Money and Finances Archives - Cathy Stucker

Wasting Time on the Internet Pays Off

July 15, 2013 by Cathy Stucker 16 Comments

find-money Update: I originally published this post in February, 2008, but this past weekend I discovered that I have almost $400 in my state’s unclaimed property fund. I am not quite sure how it got there. The state says the money was turned in by PayPal, and PayPal has all of my current contact information. I am assuming that someone tried to send me money but had my email address wrong. Rather than compare my contact info (which they had with the payment) to other accounts, PayPal just turned it over to the state.

Don’t assume that if you don’t recall any money owed to you, or if you haven’t moved or changed any accounts recently that there are no payments waiting for you. Take a few minutes and check.

Now we return you to our original post…

My mother-in-law called today to tell me she got a check for more than $300. And it was all because of some time I wasted on the Internet one day. [Read more…]

Hundreds of Dollars from One Phone Call

January 30, 2013 by Cathy Stucker 2 Comments

one-call I made $400 in just a few minutes the other day. Actually, I didn’t earn that money, I saved it. But as Benjamin Franklin said, a penny saved is a penny earned. And $400 saved is 40,000 pennies earned. Definitely worth a few minutes of my time. Here’s how I did it, and how you can do it, too.

My telephone company offers new customers a much better price than I was paying for my phone and Internet service. Although the deal was for new customers, I called them to ask if I could get the lower price on my existing service. The first person I spoke with said the offer was for new customers only, but he transferred me to someone in customer retention who immediately switched me to the new plan. No muss, no fuss, just saving money.

I have to admit that I was a little surprised. I expected some resistance from them, maybe a counteroffer of something not quite as good or something generally less than what I called for. This seemed almost too easy. Now I have exactly the same phone and Internet service I had before, but I am paying about $35 a month less than before the phone call. That means that over the course of a year I will save more than $400. Sweet. And this is not a short-term deal—the price is guaranteed “forever.”

Why not try this yourself for your business and personal accounts? [Read more…]

Accept Credit Card Payments With Your Phone

April 23, 2012 by Cathy Stucker Leave a Comment

Taking credit cards at your website is easy with PayPal and other online payment services. But accepting cards in person—for example, at a trade show, street fair, seminar or other event—can be difficult or expensive.

Now there is an easier way to get paid.

I recently starting using the Square card reader for back of the room sales at seminars. The Square reader works with your smart phone (Apple or Android) or tablet (Apple and some Android). Just plug the reader into your device, scan the card, enter the amount to charge and get paid. It is that easy. You can even email a receipt to your customer. [Read more…]

The High ROI Hour

February 23, 2011 by Cathy Stucker 9 Comments

If you were to write down all of the things you do in a typical day, what might that list look like? You would probably be surprised to realize how much time you spend on tasks that do not make money for you. For example, in a typical day you might spend one hour on email, two hours on client work, one hour on invoicing and bookkeeping, one hour on the telephone, one hour on social networking and other online activities, and the other two hours…who knows where they went.

Based on that list, two hours were spent on actual paying work. The rest was administrative, overhead and wasted time. Although some of those other tasks are necessary (It doesn’t pay to do the work if you do not invoice and get paid for it.) it may be possible to have them done by someone other than you. Or you may be able to set up a more efficient system so you spend less time on those tasks.

Here is the really important part: [Read more…]

A Penny Saved is a Penny Earned

January 10, 2011 by Cathy Stucker Leave a Comment

Image: Kozzi.com. Sign up at this link and get 10 premium credits free.You can increase your profits by generating more revenue, or by reducing expenses. This is a good time to look at what money is flowing out of your business.

Take a look at the expenses you claimed as deductions on your tax return. What were the largest expenses? Could they be trimmed, without harming your ability to do business?

Are you paying for products or services you don’t need or use? Could you get a better deal on your internet service, telephone, cell phone or long distance service?

If you have debt, how could you pay it off sooner and save interest expense? Do you use credit cards for business expenses? Consider switching to a card with a lower rate, and/or choosing a reward card that provides miles, cash back or other bonuses.

Bank charges can add up quickly. Some banks offer free or low-cost business checking. Would it be worthwhile to change banks? Or ask if your current bank will match an offer from a competing institution.

When you need to buy equipment or supplies, periodically compare prices. Consider maintenance costs. For example, buying a laser printer instead an inkjet printer can save you money in the long run. The initial cost of the laser is usually more than an inkjet, but the cost of supplies will be much less. It will be cheaper to operate the laser printer and it will require less time to order supplies, change cartridges, etc.

And don’t overlook opportunities to convert old inventory or equipment you no longer use to cash. Sell it off and get it out of your way.

Any time you can reduce your expenses, that reduction goes straight to your bottom line. Several small savings can add up to big profits.