Budgeting tips for young adults

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Managing finances is a challenging task most young adults face, especially when given the freedom to earn their own money for the first time.  There are many spending temptations that surface, such as shopping, eating out, and spending money on going out.  Here are some helpful tips to save money.

Keep a spending tracker that works best for your habits.  One of the most effective ways to stay on top of your finances is by listing everything you spend.  It could be on a spreadsheet, on your smartphone, or even just on a notepad.  You can calculate the money that’s going out each week, versus the amount of money you actually earn.

Don’t overspend on trends.  Young adults like to keep up with the trends and purchase new models of devices, new clothes, and eat out in pricey restaurants.  While it could be social pressure, take control of your urges and think about how hard you work to earn the money that you’ll spend on these unnecessary things.

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Let go of unnecessary subscriptions.  If you notice that you are shelling out too much money on monthly bills for cable TV or different kinds of subscriptions, evaluate what you really need the most.  Terminate your membership for subscriptions that you don’t use regularly, and you can even spend more time to do offline things, such as reading and other fulfilling activities that don’t require spending.

Bharti Jogia-Sattar is a financial executive, accountant, and investments expert based in the greater Los Angeles metropolitan area.  She became Vice President and Controller for both Countrywide Capital Markets and Lions Gate Entertainment.  Collectively, she spent five years working for both companies: two for Countrywide Capital Markets, and three for Lions Gate Entertainment. For more material on money matters, follow this page.

The skills you need to survive in the Fourth Industrial Revolution

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Experts say that by the year 2020, the Fourth Industrial Revolution would have already brought forth artificial intelligence and machine learning, robotics and advanced materials, autonomous transport, and other sophisticated technologies to the digital economy.  The workplace is being disrupted these days with skills, employment, and workforce strategies all changing. Here are the skills that will allow employees and organizations to survive the 4IR.

At the risk of automation are administrative tasks such as data entry, scheduling and accounting, where nearly every company is likely to embark on digital transformation.  Service jobs such as fast food cashiers are likely to be replaced by self-service kiosks, while cab drivers are now supposedly sharing their space with self-driving cars and even hyperloops.

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These capabilities are likely to see newfound needs, from UX design and digital maintenance to application administration as well as integration management.  The business toolkit is fast expanding into more and more digital skills such as mobile, CRM, and analytics.  The emphasis, however, is fast shifting to the ability to learn as well as continually sill up.  This is particularly true for technical skills that often change but can be updated with online and on-demand learning.

The 4IR is also all about a burgeoning set of soft skills.  Experts predict that in 2020, these in-demand skills will include complex problem-solving, critical thinking, creativity, and people management.  Organizations should also pay good attention to emotional intelligence, judgment and decision-making, service orientation, negotiation, and cognitive flexibility.

The future of work and employment is filled with potential – only if people and companies are properly equipped with skills appropriate for the new digital era.

Bharti Jogia-Sattar is an expert in financial and corporate management and real estate. She has 15 years of experience as a financial executive and an accountant. Even as a college student at Bryn Mawr, she was already setting the stage for an impressive professional career.  Learn more about her expertise in financial and corporate management on this page.

How small businesses can benefit from cloud-based accounting tools

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Technology has been a boon for small businesses in a lot of ways.  It has made several business functions performed more efficiently and gotten rid of some operational bottlenecks, allowing these companies to give their attention to more value-adding activities.

One of the ways technology has helped small businesses is through cloud-based accounting tools.  Gathering, recording, and processing revenues, expenses, cash flows, and other accounting tasks can be done through any device as long as there is internet connection.  Aside from the convenience offered by cloud-based apps, there are other benefits, including the following:

Security:  A common misconception about cloud-based applications is that they are most susceptible to hacks because of their online features.  While this is a legitimate concern, cloud service providers place a premium on security.  Additionally, accounting data would be protected from the damages natural disasters might bring.

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Business relationship:  For small businesses, building and maintaining good relationship with employees and external parties, including vendors and distributors, are crucial.  Cloud-based accounting tools offer the ability to locate invoices, bills, and other accounting documents with ease, reduce the risk of human errors, and see financial reports in an efficient manner.

Real-time updates:  Organizations that use traditional software would have to create a schedule for updating the app. Otherwise, they risk experiencing bugs and security issues.  Cloud-based tools are updated automatically and in real-time by their service providers.

Bharti Jogia-Sattar has worked as a financial executive and accountant for more than 15 years.  Learn more about her work by visiting this page.

 

How to use past budgeting mistakes to your advantage

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If you’ve ever wondered why you’re always out of cash, there could be something wrong with the way you handle your finances.  While it could be painful to look back at your poor money handling habits, understanding your mistakes could be beneficial as you move forward with budgeting.

Growing up in a money-tight environment is one of the best learning experiences to lead a life without budgeting mishaps.  Witnessing how your parents struggle with money and remembering how they can’t afford to buy you what you want should be enough reason for you be firm with your current spending habits.  While it’s easy to follow over-spending patterns, do your best to steer away from using your credit card or borrowing money just so you can buy something.

Assigning payables according to your current paychecks is a big mistake, and you might have noticed how you went short on money because most bills are due at the same time.  An easy solution is to save up one month’s worth of income and use it as a budget to pay for this month’s bill, while this month’s paychecks should be meant for next month’s bills.

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If you experienced borrowing money from a friend or a relative because you needed to pay for an unexpected expense, then you know that it’s important to have an emergency fund.  For each paycheck, make it a habit to set aside money for your emergency fund.  You’ll find it useful when a sudden payable needs to be fulfilled. Examples could be: the car breaking down or medical expenses.

Bharti Jogia-Sattar is an expert in financial and corporate management and real estate.  She has more than two decades of experience as a financial executive and an accountant.  For more financial tips, visit this link.

The Three Basic Types of REIT

Directly investing in real estate often necessitate shelling out a huge sum of money, which makes it inaccessible to many investors. Real Estate Investment Trusts (REITs) is an instrument or security that gives investors opportunities to put money in properties or mortgages.

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It is similar to a mutual fund wherein capital is raised from large and small investors, which, in turn, is used to purchase real estate assets through major exchanges.

These three are the basic types of REITs:

Equity REIT

According to Market Realist, 90 percent of all types of REITs are equity REITs. This type invests in and owns, and sometimes, operates, income-generating real estate assets of a wide variety, including residential, retail, industrial, health care, and office properties. The major source of revenue for equity REITs are rent and lease payments, which are then distributed as dividends to shareholders.

Mortgage REIT

Mortgage REITs, also called mREITs, use pooled funds from the investors to loan money directly to real estate owners, landlords, or operators. There are also mREITs that lend for acquisitions of loan or purchase mortgage-backed securities. Investors will be able to earn from the net interest margin of these loans.

Hybrid REIT

Not yet that common in the market today, hybrid REITs is an investment strategy that aims to own both physical properties and mortgages. While investors in this instrument can diversify their portfolio, finding the right balance has proven to be difficult.

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Independent consultant and financial expert Bharti Jogia-Sattar had previously worked in the real estate sector, and one of her competencies is management of REITs. Read more about her by visiting this page.

Top Los Angeles Neighborhoods For Your New Home

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It could be quite daunting to decide on a specific area L.A. to settle down and build your new home in, as the entire area is as conducive to family life as any can be. The city is one of the most famous in the country and a lot of buyers have their mind set on moving here. Still, there are gems of neighborhoods that are most ideal for that new house. Here are some of them:

Inglewood
Inglewood is proximate to major freeways and thoroughfares (La Brea and La Cienega), including the airport. There’s also a plan for better connectivity of this west-L.A. neighborhood via the Metro’s new Crenshaw/LAX line. For entertainment, it is going to be the home of the Rams, the city’s new NFL team. Single-family homes here have a selling rate in the mid-$400,000 range.

Mar Vista
Adjacent to Santa Monica, Venice, and Del Rey, Mar Vista is a great neighborhood on the verge of being upscale. Median house pricing here is $976,800, but this is not surprising because it has become an education hub. It is host to reputable public and private schools like the Mar Vista Elementary School, Le Lycée Français, and Notre Dame Academy.

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Cypress Park
This area at the foot of Mount Washington offers good access to well-visited thoroughfares like Glendale and Eagle Rock. What lures many would-be residents are the early 20th century craftsman- and Spanish-style homes. At a price range of around $500,000 to $600,000, it is steadily being populated by young professionals looking for a not-too-busy district where they can build their lives.

Highland Park
Including Highland Park on this list is a no-brainer. It’s among the top neighborhoods throughout the entire country, a haven for artists who want a community that feeds on art. Based on sales volume, sale-to-list ratio, and on-market listings, it’s one of the most successful districts, too, with the typical new home priced at around $473,600.

Bharti Jogia-Sattar is an expert in financial and corporate management and real estate. She has 15 years of experience as a financial executive and an accountant. For similar reads, check out this blog.

The General Objectives of Financial Planning

Financial planning cannot be underestimated by any organization, because functioning without it would be near impossible. Financial planning enables organizations to determine their short-term and long-term goals, in line with the company’s mission and vision. A balanced plan is also crafted to allow the realization of these goals.

There are many processes involved in financial planning. Some of these are sales forecasting and identification, projection, and assessment of funds or budgets. It is also a year-round activity that requires constant monitoring and adjustments to keep the organization on track with its plans.

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Financial planning has two general objectives:

Availability of sufficient funds

One of the primary purposes of financial planning is to ensure the sufficiency of funds for financial transactions on a day-to-day basis, acquisition of assets or properties, and other expenses. The timely availability of financial resources is also important, which financial planning can ascertain.

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Management of cash flow

Organizations deal with shortage of cash regularly. But excess funds can also cause problems if they are not managed and wasted because of lack of proper planning. Financial planning also determines the best investment strategies, expansion plans, and other ventures to maximize long-term financial returns.

Bharti Jogia-Sattar is an independent finance and accounting consultant who has in-depth knowledge of financial planning and analysis, project management, internal audit, and many more. Learn more about her by checking out this LinkedIn page.

Non-Technical Skill Set For Project Managers

Many office workers think landing a position as a project manager only requires further education or top-notch qualifications. While technical skills and a master’s degree can land one the job of a project manager, there are non-technical skills that will help them be beyond their professional potential.

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Leadership

Project managers are expected to have leadership skills. They must know how to have everyone on the team on the same page so they can work together to achieve their goals. It is not just about the leader being on top of the chain, but it is also about keeping everyone together intact towards success.

Decision-making

Project managers should not be indecisive. They must learn which battles to choose, and when things get worse, must also be strong-willed in facing challenges and finding options.

Coaching

It’s not enough that the project managers are the only ones competent to do the job, their team members should be able to do the same too. When project managers know how to coach their team members, everyone becomes competent to perform the tasks that are assigned to them.

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Team-building

Project managers must be personally involved in the lives of their team members, and not just solely on their work output. When project managers work to make their team one, they promote a positive working environment. Other positive skills like trust building, communication, and conflict management are also practiced not only by the leader but by the whole team as well.

 
Bharti Jogia-Sattar is a corporate and financial management expert with more than two decades of professional experience. She is also an independent consultant who works with various firms, providing them with a hands-on brand of leadership. Learn more about her by visiting this Facebook page.

Key Skills For Effective Project Management

Project managers are great assets in organizations as they help deliver successful projects. While certifications from different training programs make a project manager a bankable candidate, certain skills make them more successful. Here are vital skills that will help project managers become more effective officers and leaders.

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Operational and organizational awareness

It helps that project managers are book smart, but it is a must that they understand how their company works—its products and services, customers, leaders, suppliers, and other connections. Effective project managers know how these groups are linked to one another, and they understand the needs of everyone involved in the business.

Leadership

Project managers know how to keep their people motivated. They are assertive yet likable, and they also work to make their teams effective.

Communication

It is important that project managers can relay their expectations to their team so everyone can work efficiently. They speak with clarity and conciseness, so their members won’t have to waste time trying to figure out what is required of them.

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Problem solving and risk management

Project management is about handling problems and gauging risks. Individuals who can predict and make solutions as problems arise can accomplish tasks successfully. This is why project managers should be great at problem-solving and risk management.

Bharti Jogia-Sattar is a financial executive with years of valuable experience in the field.  Visit this blog for more articles on project management.

Learn How To Boost a Home’s Market Value

Financial planning for a real estate asset does not stop after the purchase. This is a common mistake many homeowners make. To fully maximize a property’s potential, it is essential that people are aware of the techniques that keep or improve the market value of their homes. Remember that real estate is considered a good investment because it can easily be converted to cash. The amount one can gain is dependent on how well the asset’s upkeep was. Take note of the following considerations.

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Consult with a realtor: Well-intended but unnecessary upgrades not only is expensive but are a waste of time and energy. For the most part, homeowners are cautioned against adding any new feature or accessory. If they feel that their home could improve with an additional room, it would be better to make one from an existing space. However, before any reconstruction, it is best to understand what the market is looking for. This is simplified with the help of a realtor.

Keep things working: The most obvious recommendation is to have all utilities working. A home’s market value increases when potential buyers see that it has been well taken cared of. A good tip to place one’s self in the buyer’s shoes. Purchasing a property that needs extensive repairs is not appealing.

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Assess and review: Most people have a small pile of clutter. These are usually mementos. Regardless, these items should be thrown away or recycled to create space. Homes that look clean often sell higher. Moreover, having less junk allows the distinctive architectural features of the property to shine.

Financial planners consistently remind their clients to regularly clean and manage their property. This keeps the asset relevant in society, making it useful for any emergency.

Bharti Jogia-Sattar is a trusted financial executive, whose focus is within the real estate industry. Learn more when you follow this blog.