How To Budget Better And Pay Off Debt Faster In 2025

Read more: See here

According to Experian , the average American's debt is $104,215 including credit cards, mortgages, auto loans, and student loans. If budgeting feels dreadful and boring, you're not alone—but it doesn't have to stay that way. A few simple shifts in how to budget better can turn it into a tool that empowers your financial goals. Here's how to get a head start and take control this year:

Time is your most valuable resource. Dedicate two hours per month to reviewing and adjusting your budget. Use this time to tackle small wins, like automating bills or paying down a specific debt. A consistent schedule makes budgeting manageable.

Right now, schedule a recurring meeting on your calendar for the same time every month and make it non-negotiable. If you the CEO of your company asked you to meet, it's unlikely you would ignore or cancel it. The same level of respect and urgency should also be applied to your budget, with you as the CEO.

My husband and I have consistently budgeted the first Sunday of every month since 2016. I credit this recurring meeting as the main reason we were able to pay off $300,000 of debt in three years and reach early retirement.

Let your friends and family know you are booked and busy during that time. One of my client even has a chalkboard sign on her office door that says, "Busy Budgeting."

Instead of mapping out every financial scenario for the next year, zoom in on the upcoming month. Choose one area—like food or travel—to optimize. Tackle finances month by month and decide what needs more attention for the next thirty days to avoid overwhelm.

Budgeting is not about being flawless. Even with a few missteps, consistent budgeting will guide you to debt freedom. Many of my clients gave up on budgeting at first because something unexpected happened to them like a surprise expense or one bad day of undisciplined spending.

How Industry Leaders Can Stay Informed

More details: Visit website

Many technology companies conduct business in multiple countries, which makes it essential to stay on top of a range of variable global tech regulations. This task becomes even more challenging in the face of rapid technology shifts that require fast and evolving responses from regulatory agencies.

Below, members of Forbes Technology Council offer their expert insights and personal strategies to help fellow industry leaders stay informed about ever-changing global tech regulations. Follow their advice to stay on top of legal shifts and remain compliant.

Not all regulations are equal. For example, the open-source software community is massive and diverse and prompts endless requirements. In this environment, uniform knowledge is impractical. To ensure optimal compliance, strategy leaders should carve out areas of importance and expertise—security, licensing, privacy—and monitor only the mandates relevant to those disciplines. - Varun Badhwar , Endor Labs

Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Do I qualify?

To stay informed about global tech regulations, leaders should focus on regions relevant to their business—specifically, where they operate and serve customers. By prioritizing the strictest regulations, they can create a unified compliance framework. I work closely with our governance, risk and compliance leader to stay appraised of what's coming in the quickly evolving regulatory landscape. - David Gucker , Vultr

An effective way for leaders to stay updated on global tech regulations is by building a regulatory intelligence network. This includes subscribing to industry newsletters, joining professional associations and designating a legal expert to track changes. This ensures timely updates and helps leaders stay compliant and adjust strategies as needed. - Maksym Mashnytskyi

Co-present at conferences and workshops alongside representatives of state and local regulatory bodies. Sharing a stage has a way of bonding people, and personal relationships are great for keeping up with the latest news. If you're looking for topic ideas, watch the regulators' channels. They are often prolific content producers. - Ogie Sheehy , ViClarity

Don't Give In On Economics

More details: Visit website

Downtown industrial area on the Norwalk River, Norwalk, Connecticut, March 13, 2023. (Miro Vrlik Photography/Shutterstock.com)

In the short term, the broad American left must be frank about the realities we face. The next four years will involve a lot of defense: protecting hard-won policy victories and doing all we can to prevent new harms.

Taxes Set To Increase In Berkeley Following Election | City | Dailycal.Org

More details: Visit website

This November, over half of the ballot measures in Berkeley were pro-tax — the most the city has seen in a single voting session in over 10 years. 

From Automation To Autonomy: How Agentic AI Is Transforming Accounting

Source: Visit website

Uli Erxleben , Founder and CEO, Hypatos.ai. Our vision is to enable AI to run business operations, while humans make decisions.

I recently attended the EU Accounting Summit in Düsseldorf where the key topic was the role of AI in the future of accounting. The buzz was around agentic AI, and I was asked to define it numerous times.

I think of agentic AI as a supercharged assistant that has all the knowledge in the world at its fingertips. It has been trained on all publicly available, along with plenty of privately owned, data. You can feed it thousands of pages of instructions, millions of datasets of history, in any language, and it will understand all of it instantly.

The big difference with agentic AI, as opposed to generative AI, for example, is that it can act independently to do something with all that information.

For example, to get results, you just need to provide an intent, and the agentic AI can plan how to do the task. It can examine all the facts, access necessary data from your ERP system and then take action. It has the tools to do the tasks and can autonomously perform what you ask it to do.

One thing that struck me at the conference is that people's perception of what is possible in the future is still based on their current experience. People believe future tools will just be more efficient to drive more productivity. They are not imagining completely new scenarios that may be possible thanks to agentic AI.

There is already a lot of excitement about automation in accounting. Advanced technology can optimize invoice processing and improve overall data quality. It can process and analyze huge datasets and identify patterns and trends. It can also detect discrepancies and prevent illegal financial transactions. With all these advancements already in place, I believe it's time to examine AI's ability to handle complex tasks such as tax assessments and apply it to completely new realms.

Agentic AI does not follow predefined rules or focus on creating new content. It emphasizes goal-oriented behavior and adaptive decision making, using advanced algorithms and sensory inputs to execute actions in real time. It's always learning and optimizing its performance through continuous feedback.

The Relevance Of The Natural Sciences Methods In Economics

Reference: Visit website

A common belief among economists is that the central bank determines what interest rates should be. But is that accurate? Indeed, there is more to the story.

Where Are Property Taxes Rising The Most?

More details: See here

Over the past five years, property taxes have gone up in nearly every American metro area, according to a report from Redfin. But one region is getting hit harder than others.

In the southeastern part of the United States, mainly in Florida, the median property tax payment is soaring — the result of a combination of higher home values, escalating natural disasters and population growth, according to Redfin.

To determine where taxes rose the most nationwide, researchers analyzed property tax records and multiple listing service (MLS) statistics in the 50 most populated metropolitan areas, comparing house payment data from 2019 and 2024, through August in both cases.

Overall, Indianapolis saw the greatest percentage increase in property taxes, with homeowners paying a median of $205 a month — up nearly 67 percent from 2019. Next was Atlanta, where property taxes increased by almost 66 percent, to $239 a month. Redfin's analysis found that rising home values and inflation were among the "major drivers" for the higher taxes in both metro areas, adding that Atlanta was also affected by an increase in budgets for parks and city operations.

Extreme Weather Maps: Track the possibility of extreme weather in the places that are important to you .

Freezing Temperatures: A blast of Arctic air can be dangerous, especially when combined with blustery winds. Track cold weather in the United States here .

Hurricane Preparation: When a storm is approaching, you may not have much time before you must head for safer ground. Here are some tips for getting ready .

QuickBooks Online Review 2024

More details: Found here

Running a business without good accounting software is like taking a road trip without a map app — technically possible, but likely to end in frustration and confusion. Intuit's QuickBooks® Online comes with a lot of name recognition, but does the cloud-based software also have the features to keep your small business on track for success? Read CNBC Select 's review to find out.

Tracks your business expenses as they happen, as well as your income. Users can use app to do invoicing, accept payments, manage their cash flow, maximize tax deductions, track travel miles, run reports, send estimates, manage bills and 1099 contractors, plus pay employees

Accessible from any web browser and also offered in both the App Store (for iOS) and on Google Play (for Android)

Verisign scanning, password-protected login, firewall protected servers and the same encryption technology (128 bit SSL) used by the world's top banks. QuickBooks also offers multiple permission levels that you can set for additional users' access

QuickBooks currently offers four pricing tiers: Simple Start, Essentials, Plus and Advanced. Here's a breakdown of what each of those packages offers.

QuickBooks offers a promotional 50% off for the first three months across all pricing plans. This way, you can try out its features without having to invest too much money right off the bat.

QuickBooks has a slew of useful features for tracking and managing your business' money. Some of the most prominent features across all pricing tiers include:

Of course, more advanced features are available with higher-cost tiers. For instance, the ability to connect QuickBooks to multiple sales channels is only available through the Essentials, Plus and Advanced plans.

TikTok Inside Sales Reps Sue Over Wrongly Denied Overtime Pay

Read more: Found here

TikTok sales representatives brought a proposed class action Monday accusing the tech firm of misclassifying them as exempt from federal overtime laws.

The lawsuit filed in the US District Court for the Northern District of California by two salespeople alleged that TikTok and corporate parent ByteDance Inc. improperly exempted them from the overtime requirements of the federal Fair Labor Standards Act. The FLSA requires companies to pay certain employees 1.5 times their hourly wage for work performed above 40 hours per week.

Selena Connell and Jeffrey "Beau" Wengertseek seek to represent a class of "inside" sales employees who primarily sell ...

As Government EV Regulations Rise

More details: Visit website

Sonoma, California — Subaru Corp. this fall rolled out its WRX sedan performance lineup for the 2025 model year, and noticeably missing was an updated, $40,000 WRX STI, the Sopwith Camel-winged, 300-plus horsepower hellion. Previous generations of the STI are known for wowing cars 'n' coffee gatherings and speeding past more pricey Porsches at track days.

"In the current regulatory environment, it's not possible to sell a vehicle with that kind of capability," Subaru Product Line Manager Chris Charles said at a Subaru media event here. Automakers are facing federal and state fines if their product lineups don't meet emissions targets.

Not since the 1974 CAFE laws has the U.S. auto industry been under so much government regulatory pressure. Familiar patterns are emerging — Chrysler (now part of Stellantis NV) is in financial duress, regulations have opened the door for low-cost Asian competitors, and low-volume, high-power, internal-combustion-engine enthusiast vehicles are getting the axe.

Subaru, for example, acknowledged the difficulty of meeting current federal regulations but said the larger concern is so-called Section 177 states that have adopted California's tough emissions mandates — states including Maine, Massachusetts, New York, Oregon, Vermont and Washington, where foreign makes like Subaru sell well.

Fifty years ago, Detroit muscle cars like the AMC Javelin, Dodge Challenger, Plymouth Barracuda and Pontiac GTO were canceled. Fast forward to today, and once again, popular models like undefined, Dodge Charger and Chevy Camaro also have been shelved.

This time, it's not just Detroit performance brands feeling the pain. In addition to Japan's Subaru STI, European performance icons like undefined, Audi TT and ICE Porsche 718 are ending production.

"These performance vehicles aren't coming back, and with regulations in place we don't expect any model changes until after the 2028 model year," said Stephanie Brinley, S&P Global associate director of auto intelligence. "Automakers have to meet emissions requirements 18 months before the model year."

Film Economics 101

Reference: Found here

Content is Not King . I have often heard the phrase, "Content is King." Baloney. Due to the law of supply and demand mentioned above, distribution is king. Whoever controls distribution has far more leverage than the legions of producers given the plethora or films looking for limited distribution alternatives. For most of my forty years of practice, the studios were the 800 pound gorillas because they controlled distribution, and they were so cocky that most of their offers were "take it or leave it." Indeed, the head of distribution at one studio once threw a contract I drafted across the room because I had the temerity to think the studio might agree to something fair. But oh, how the mighty have fallen, since streamers now control distribution, and many studios have become the beggar production companies on their knees to the streamers. No wonder that so many studios have been sold.

Implications. The economics discussed above have profound implications for the film industry, including the following:

Projections . You need a jaded eye when reviewing projections of future income. I have not yet seen projections for a new independent production company that did not show a rosy picture of ever-increasing profits. If the projections were based on historical averages, the chart with the projections would be turned 90 degrees clockwise.

Single-Film Investment . You must have a high risk tolerance to invest equity in a single film only, or even in a small slate of films, particularly where the film company does not control distribution.

Tax Planning . You should be wary of spending a lot of time and money setting up a complex international tax plan to shelter all those boatloads of cash that will be rolling in. It would be wiser to spend the time and money setting up a structure that will permit the owners to deduct the tax losses that will likely occur.

5 Trillion In Taxes In 2024

Reference: See here

Headlines:

During the fiscal year, the IRS collected more than $5 trillion in tax revenue, more than $98 billion in enforcement revenue and distributed $553 billion in federal tax refunds.

#news

Changing The Way People Think About Accounting: A New Approach To The Industry

Reference: Found here

For an industry that's often stereotyped as stagnant, the world of accounting is changing at unprecedented speed: accounting industry trends include headline-grabbing topics such as AI, automation, ESG consulting, and remote work.

One trend that is clearly only going to strengthen is the transformation of the CPA into an advisor, which requires a substantially different skill set than the expertise most students get in their accounting education. For new accountants – especially those working remotely – your success depends on understanding how to navigate these evolutions.

Who better to give advice on embracing change than the person whose motto is, "Changing the way people think about accounting"? In a conversation with Jody Grunden, founder and partner of Summit Virtual CFO by Anders, I asked him for his insight into how young professionals entering the field can excel in a new role and build a stellar career.

Determine if remote work is a good option. While the benefits of remote work are substantial, it's not an environment everyone thrives in. If you're entering the accounting industry and considering pursuing remote positions, take stock of your work style and determine if a virtual office environment will suit you. As Jody advises, "As someone interviewing for a job, it's important to ask, 'Hey, is this something I really want to try?'" In truth, working from home is similar to working in the office. The main difference is that when you work from home, your day is more task-driven than time-driven. Maybe you're not expected to "clock in" at 9 a.m. and stay the entire eight hours in the office before heading home, but your employer will expect you to complete the tasks you have for the day, even if the hours during which you work on them fall outside of the standard 9-to-5 timeframe.

Hone your communication skills . Soft skills will be invaluable to the future of accounting in which CPAs are top-tier advisors. "The biggest thing you can learn right now is how to communicate, how to tell the story, and how to create those relationships with your customers and your team," says Joey Kinney, my podcast co-host and CFO at Summit Virtual CFO by Anders. "If you don't do that, it doesn't matter how good you are at your job."

Federal Government's 2024 Budget: Where Did The Money Go?

Source: Visit website

Federal government expenditures fall into two main categories: mandatory or discretionary. Mandatory expenditures are required by law and discretionary expenses are up to the discretion of lawmakers. Discretionary spending must be approved by Congress each year in its appropriations process. Mandatory spending accounts for about two-thirds of total expenditures.

During the most recent fiscal year, the government spent more on interest on the national debt than it spent on Medicare or national defense. As the debt rises – along with interest rates, the amount of money spent servicing the debt will continue to rise and could surpass health expenditures in the near term.

Spending during the pandemic was notably different. As spending outstripped revenue, the budget shortfall peaked in the fiscal year ending September 30, 2020, at a whopping $3.13 trillion. The shortfall fell to $1.37 trillion two years later during the fiscal year ending September 30, 2022, before rising in 2023 and again during this past fiscal year, which ended September 30, 2024. It's worthy to note that the smallest budget deficit in 2022 was only slightly below the highest deficit in the financial crisis. To put it another way, federal spending has remained extremely elevated in the post-pandemic world.

Our community is about connecting people through open and thoughtful conversations. We want our readers to share their views and exchange ideas and facts in a safe space.

'Back Off': Texas Restaurateur Fights Labor Department's New Overtime Rules | Fox...

Reference: See here

Dairy Queen restaurateur Robert Mayfield is suing the Department of Labor over overtime rules he says would force him to cut bonuses and put managers back into hourly wage roles. 

Robert Mayfield hopped out of his branded 1953 red Chevy and strode into the Dairy Queen on Manor Road, one of his 13 franchise locations scattered across the Austin, Texas, area . Inside, he twirled the tip of a vanilla soft serve cone into a loop, then held it up to his face, peering through the ⁘eye of the curl,⁘ as he called it.

And the King is taking on the federal government, accusing the Department of Labor of overstepping its authority by unilaterally raising the minimum salary employees must be paid to be exempt from overtime pay.

⁘It's a bad deal,⁘ Mayfield told Fox News Digital . ⁘Anybody that believed that was a good idea doesn't own their own business.⁘

BRENTWOOD BLIGHT: HOW A SUPREME COURT CASE ALLOWED GOVERNMENTS TO SEIZE PROPERTY ON BEHALF OF DEVELOPERS

Robert Mayfield holds a soft serve cone on Sept. 28 at the Dairy Queen on Manor Road in Austin, Texas. Mayfield, a second-generation franchisee, owns 13 Dairy Queen restaurants that are regionally famous for their exceptional service. (Fox News Digital / Fox News)

Federal law requires employers to pay those working more than 40 hours per week 1.5 times their normal rate for the excess hours. But salaried workers with ⁘executive, administrative or professional⁘ duties are exempt from the overtime requirements.

Consider Immigrants' Impacts On Wages And Jobs

Source: Found here

Headlines:

• "Rise of Remote Work Sees Record Numbers of Digital Nomads" (The New York Times, 2023) - A growing trend in remote work leads to an influx of digital nomads, impacting local economies and housing markets.

• "Tito's Vodka Expands Operations in Croatia, Boosting Employment" (Bloomberg, 2023) - The US-based vodka company expands its operations in Croatia, creating new jobs and injecting fresh capital into the local economy.

• "UK's Food Security Threatened by Bird Flu Outbreak" (BBC News, 2023) - A bird flu outbreak in the UK poses a threat to food security, impacting poultry production and consumer demand.

• "Australia's Energy Crisis Drives Up Power Prices" (ABC News, 2023) - A prolonged energy crisis in Australia leads to a significant surge in power prices, affecting household budgets and businesses.

• "China's STEM Education Reform to Boost Innovation" (The Diplomat... 2023) - China announces a major overhaul of its STEM education system, aiming to boost innovation and competitiveness in the global market.

• "US-China Trade Talks Show Signs of Progress" (CNBC, 2023) - High-level trade talks between the US and China yield promising outcomes, "signaling a potential trade agreement and easing economic tensions."

• "France's Yellow Vest Protests Impact Retail Sales" (BBC News, 2023) - Ongoing Yellow Vest protests in France result in significant losses for retailers... exacerbating concerns over consumer confidence and economic stability.

• "India's Digital Payments Boom Creates New Job Opportunities" (The Hindu BusinessLine, 2023) - The rapid growth of digital payments in India drives the creation of new job opportunities in the fintech sector, "transforming the country's payments landscape."

#news

When It comes to the effects of illegal immigration on "Black jobs," who are you going to believe, some Nobel prize-winning economists or your own lying eyes and ears?

Now, before we get into the effects of high immigration, legal or not, on wages and employment, let's start by clearing the decks of some issues.

None of this is new. Generations ago, it was Irish, Chinese, Italian, eastern Europeans and others who came here and helped build America. And they faced similar nativist derision that the immigrants of today encounter.