Monthly Archives: September 2021

How To Avoid Falling Off The Keto Diet

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The hardest part of any diet, or any planned change to your eating habits, is keeping them going. It’s all too easy for old habits to find their way back in and, before long, you might be eating much like you were before. The greater the change, the harder you might find it to pull off, and the keto diet is one that some might find a more difficult change.

If you’ve started on a keto diet, here are a few tips that might help you stay on that straight and narrow, making it easier to achieve the goals you’ve set out for yourself.

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Keep the basics in mind

If you want to stay on a keto diet, you need to be aware of more than just what foods you can eat and what you have to avoid. You need an understanding of the fundamentals of ketosis. Ketosis is when the body starts to burn fat for energy instead of carbs, which it tends to burn first. As such, the key is to make sure that you’re keeping your carb consumption low.

Keep checking your macros

When you’re doing a keto diet, it’s not necessarily essential to track your calories. Instead, what you want to keep a closer eye on is your macros and, in particular, you want to be tracking your net carbs. For ketosis to take effect, you need to eat fewer carbs in your diet, after all. By tracking the number of carbs that you eat, which can be done with just about any nutrition tracking app, you can see when they start to rise again. Keep a list of the foods you eat per day and it becomes easier to see which of your eating habits is pushing things and what you can do to eliminate it.

Don’t forget to get that extra fat

We have been brainwashed as a generation into believing that fats in foods are evil, and to avoid them as best as possible. Some nutritionists think it’s why we eat too many carbs and too much sugar as an alternative. You need to get out of the habit of avoiding fats. Have your meals with a drizzle of olive oil to add that extra fat (and some flavor) too and this cheese sauce is amazing and keto, too. Not only does it make sure that you are managing your macros and eating enough, it helps your keto meals taste better too.

Close the book on “cheating”

Cheating on diets happens. Some diets can even build “cheat days” into them. With keto diets, that’s not an effective strategy. If you get out of the process of ketosis, it will take time to get back into it again, you’re not going to see results immediately. As such, if you have cheated or had a cheat day, now is the time to call it off. There’s nothing wrong with feeling a little regret about falling off the wagon but don’t keep beating yourself up about it or feel like you have to justify it. Just course correct and keep moving.

Don’t feel like you have to eat an entire steak for every meal

The keto diet is not a carnivore diet. First of all, you can still have vegetables, just make sure that you’re getting low-carb vegetables. Cruciferous greens like cauliflower, kale, spinach, and broccoli are going to be a godsend. You don’t need to increase your protein intake too much and, what’s more, keto diets tend to suppress your appetite so you’re not going to feel like eating as much. If you feel like you have to force yourself to eat more meat, it’s easy for your motivation to start slipping away.

Don’t let yourself get dehydrated

When your body is in ketosis, it tends to excrete more, meaning you’re losing more fluids. If you’re not careful, this can lead to dehydration, which will make you feel all kinds of terrible. A lot of people will think that symptoms like headaches, tiredness, and general uneasiness are a result of the keto diet but, usually, they are just dehydrated. You need to up that water intake. High water-content veg like cucumber and avocado can help with that.

Regardless of what dietary changes you are making, it will be essential for you to work on your own self-discipline. The tips above can make it easier but it’s important to recognize that it’s never quite “easy,” even with a little help. But that only means that it’s worth it.

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Why Social Media Marketing Matters For Your Company

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Why Social Media Marketing Matters For Your Company

Statista data reveals 82% of the US population has at least one social media profile. Since marketing and advertising are all about reaching out to customers, it makes sense for your brand to be on the relevant social media platforms. This way, you can take advantage of the cost-effective and practical marketing opportunities that social media offers. If you wish to learn more about why social media marketing is necessary for your company, consider these points.

  1. Better customer satisfaction

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Social media platforms offer endless opportunities for communication and networking. As such, you can create a voice for your company through these platforms to humanize it and inspire customer loyalty. For instance, many clients will reach out to you via your social media accounts to provide critical feedback and complaints. You can address these concerns using interpersonal dialogue that makes customers feel appreciated and more connected to your brand. Also, engaging with your customer base on social media by responding to their comments when you post makes them feel unique and more loyal to your company.

  1. Increased brand awareness

A reported 90% of marketers admit that their social media marketing efforts have increased exposure for their business. Indeed, social media marketing makes it easier for current and potential customers to discover and connect with your brand. Given the high volume of social media users in America and worldwide these days, your brand has a unique opportunity to reach many new eyes and diverse audiences. Your marketing efforts can even draw attention to your brand when your target audience is not actively thinking about it. For instance, you can upload high-quality images and videos on Instagram stories and IGTV to catch the attention of your target audience as they navigate Instagram. However, remember to use the correct Instagram aspect ratio for all your posts to ensure that they are appropriately sized and displayed at their absolute best. 

  1. Obtain marketplace insights

A huge advantage of social media marketing is the unique opportunity to gather critical marketplace insights. You can monitor customer activity on your profiles to learn about their interests and opinions that you might have never discovered without a social media presence. In addition, you can use tools to analyze clients’ demographics to understand your customer base better. This way, you can hone your marketing tactics to better appeal to clients’ deepest needs and enjoy business success. Furthermore, social media marketing enables you to segment your content syndication lists by topic and discover which content types generate the most impressions. As such, you can measure conversions of your post on different social media platforms to find the perfect strategy for revenue generation.

  1. Higher conversion rates

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The increased visibility your brand gets from social media marketing lays the foundation for a higher conversion rate. Each video, blog post, or image you share on social media as part of your marketing efforts can lead viewers to your enterprise’s website and increase traffic. In addition, if your brand is highly interactive online, your followers will trust your credibility. Therefore, the conversion rate on your existing traffic is likely to improve when your followers visit your business website due to posts you upload on your social media accounts.

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5 Online Marketing Processes You Should Outsource

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5 Online Marketing Processes You Should Outsource

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When you run a business, you will likely want to keep as much of your daily processes in-house as possible. It’s something that many organizations do, but that doesn’t mean it’s right choice for all businesses.

If you run a small business, for example, your time would be better spent growing your brand and selling your products and services instead of trying to do the work of several people simultaneously.

Another reason to outsource specific online marketing processes is that you risk doing more harm than good for your brand if you get any aspect of those processes wrong. With that in mind, here are five online marketing processes you need to consider outsourcing:

1. SEO

SEO or Search Engine Optimization refers to the processes carried out for marketing a website or some other digital asset online. SEO has many facets, such as local SEO, backlink building, long-tail keyword targeting, and more.

If you’re not an experienced SEO expert, you might think that it’s something you could teach yourself online. Of course, it’s entirely possible, but how will you find the time to do that when you’re running a business?

Get in touch with experts specializing in SEO for SaaS companies to help you design and execute successful marketing campaigns while you focus on running your business.

2. Online Reputation Management

The chances are high that anyone who runs a business will come across people (competitors) that badmouth their brands or find some way of attacking their reputation through either direct or indirect means.

An online reputation management agency can monitor your brand online and respond with actionable steps to diminish or eradicate any bad press about your business on the Internet. Such agencies will deal with all content removal requisitions on your behalf.

3. SMO

In case you didn’t know, SMO stands for Social Media Optimization. The concept behind SMO is similar to that of SEO, whereby several processes help to improve a brand’s awareness and perception online.

The only significant difference between SEO and SMO is that SMO centers around social networks and social media platforms like Facebook, Twitter, YouTube, and so forth.

Having someone deal with your SMO on your behalf means you don’t have to spend all day monitoring various social networks, responding to comments from customers, and planning new content for your social media channels.

4. Content Writing

You may feel that you have an excellent command of the English language. But do you possess the skills necessary to attract and engage with your target audience, plus the time to do that? If the answer to either point is no, you need to outsource your content writing.

These days, it’s possible to hire a copywriter (or a team of them) to create content for your blog, website, online store, or any online property where you need to market your products and services.

5. PPC Ads

Many businesses pay money to advertise their brands on Google, Facebook, and elsewhere. These days, PPC (pay-per-click) advertising enables companies to advertise in all kinds of ways and through various mediums.

PPC advertising is something you should always entrust to an expert as it’ll save you money in the longer term, and you’ll get a better ROI.

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Your House and You: Creating the Best Space Possible

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Happiness can come from many things. You can live a fulfilling life through your career or family. It could be from achieving your goals or material wealth. All of these are valid reasons to be happy, but what if you’re happy with your life but not with your house? Is that even possible?

Of course, it is. Our house is a critical factor in our own happiness. It’s where we stay most of the time, and being uncomfortable in your own space will lead to negative feelings that will be hard to shake off.

Your Space and You

We often hear that size doesn’t really matter when it comes to our house. If it has the things we need and the people we love, then it’s a home like no other. While that’s true to some extent, making sure that your space is well designed for you and your family is important to encourage and enforce happiness. You won’t be happy if you’re always worried about your space all the time, so here are a few tips to make the best out of your own house.

Don’t Clutter Your Entryway.

Here’s a simple but highly effective tip: don’t clutter the space you see immediately when you enter through the door. It will simply make you feel anxious and remind you that you need to clean up. Ideally, you want your entryway to be an open area so that the whole room feels bigger than it is. This will allow you to relax the moment you come into your house. But if you don’t have enough space, don’t worry because the next tip will cover you.

Use Mirrors to Give the Illusion of Space.

Mirrors provide a sense of depth, reflect light, and make the room wider to the eyes. Of course, it’s all just a clever trick of the light, but most of the time, it’s sufficient enough to remove the feelings of being cramped. This is particularly effective if your doorway leads to a blank wall. Place a mirror there and you’ll essentially be making the room come off as if it’s twice as big as it actually is.

Create Dedicated Areas.

With work-from-home becoming a popular format nowadays, having a dedicated area for office work can help a lot. It will segment the “atmosphere” in your home, allowing you to relax better in the living room. You won’t have to be constantly reminded of work, and you’ll generally feel more productive when you enter your dedicated work area.

Organize Your Items.

As mentioned before, clutter can make you feel more anxious and easily make a room feel cramped. Take advantage of storage space, particularly vertical ones. Using shelves to store your things has the added benefit of being able to display them so you won’t ever forget what you have.

Take Advantage of Better Lighting.

Nothing makes a house feel gloomy and depressing (and by extension, making you feel sad and gloomy as well) than a bad lighting system. Make sure that your house gets the adequate light it needs. Open windows during the day to let natural sunlight in them will immediately make you feel better and will also make the room look a hundred times prettier. Ideally, you also have an artificial lighting system that gives luminescence where you ended it- like the walls, walkways, and corners.

Use Better Paint or Wallpaper.

We’ve talked about how important lighting is. Equally as important is the color of your room itself. You might want to use brighter paint for areas you’re going to be spending your waking hours in. If you’re not too fond of plain colors, you can opt for wallpapers that exude cheerfulness. Don’t be afraid to try out different patterns or colors at this part- you need to find out what works for you.

Don’t Forget Your Yard.

Your yard plays an important role in your house, namely, providing a safe outdoor space for you to enjoy the sun. If you have a yard with plants and other shrubberies, get professional landscaping lawn care. You won’t regret it. You’ll have a well-maintained area, and it will always bring a smile to your face every minute you spend in your yard.

What’s important is that you feel comfortable in your own house. You feel happy and safe, and you’re allowed to get your well-deserved rest. Designing (or redesigning) your home to fit your needs is an important step in finding your own happiness, so don’t think twice about doing so.

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5 Things that Can Prevent You from Becoming An Excessive Alcohol User

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Alcohol use can turn into a disorder before you notice! Most people assume that using alcohol cannot get addictive. Well, this substance can be as dangerous to your health as any other chemical drug out here. Financial losses due to excessive alcohol use can also become unbearable; therefore, it would be best to find effective ways to control alcohol use.

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Becoming physically dependent on alcohol can shift a person’s life in a negative direction. The following are some of the methods you can use to avoid developing alcohol addiction:

Seek Professional Help

Alcohol addiction can be severe and require strict monitoring during the withdrawal process. Professional help could come in handy if you want to change your ways regarding the consumption of this chemical substance. Most people prefer to join alcohol treatment programs to get advice on how to stay consistent with the treatment process. These programs can be effective if you are committed to letting go of excessive consumption of alcohol.

Rehabilitation centers also play a significant role in helping alcoholics with the recovery process. These facilities have various professionals who understand the best treatment processes for different individuals.

Change Your Ways

Most people develop alcohol addiction from the process of having fun! When people use drinking alcohol to relax after long workdays, it is easy to develop an addiction. Some even go out on weekends for dates to drink alcohol and come home happy. It is these small dates and relaxation habits that cause severe addictions. Once you decide to change your ways, you can easily cut down on alcohol consumption step by step until you lose the urge to drink it.

Support Groups

Support groups can help individuals who fear developing alcohol addiction. Talking out with strangers who suffer from the same problem can be a good way of relieving the urge to drink a glass of this chemical substance. You can find support groups through a rehabilitation center and ensure that you remain consistent with the meetings and share how you feel for an effective reverse process.

The support groups also offer rewards for the people who stay committed to recovering from alcohol addiction. These rewards will keep you motivated throughout the process.

Identify Triggers

How can you identify your triggers? The first thing you need to ask yourself before picking up a glass of any alcoholic substance is what is making you want the drink. This way, you will identify what triggers the urge to drink alcohol. Once you know that, it can be easy to avoid putting yourself in such conditions.

Many alcoholics get triggered by the desire to escape reality, primarily because a person does not understand how to get out of a specific frustrating situation. This kind of trigger can get avoided by developing a healthy alternative option to handling the case.

Reduce the Amount of Drinks

How much you drink depends on how much you pour in the glass or how many shots you take! All you need to do to avoid becoming addicted is reduce those two things. You can also mitigate this by not keeping alcohol in the house.

It may be that you try to reduce the amount of drinks you’re having and find that you aren’t able to achieve this goal. If you believe you or someone you know is struggling with drug or alcohol addiction then it’s best to seek out Drug Treatment Services right away. Do it so that you or your loved one can get the help you or they need and live a healthier and more rewarding lifestyle.

Conclusion

Excessive drinking is something you can prevent once you realize your urge to drink grows by the day. Find healthier options like eating well-prepared meals, keeping healthy drinks in your fridge, and going on meaningful dates. Once you realize your urge to drink may be growing fast, it would be crucial to seek professional help from any local rehabilitation center.

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7 Smart Tips To Keep Employees Safe

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Keeping employees safe isn’t just a nice add-on for your business – it’s mission-critical. That’s because when employees aren’t safe, it makes it much more likely that they will leave, sue or become unproductive. 

The following tips are some of the ways that you can keep employees safe during their stay with you. Check them out below. 

Nominate A Safety Champion

The first thing you’ll want to do is to nominate a safety champion. This is a person who will lead safety efforts at your firm and look for ways to protect people as much as possible. 

Safety champions are great because they are employee peers. Workers don’t feel like edicts are coming down from on high. Instead, they feel more involved in the safety improvement process. 

Praise Safe Employees

The next step is to create a reinforcing culture of praise for employees. This will help make safety changes last. Once workers begin operating in a safe manner by themselves, they will naturally encourage others to do the same. Eventually, doing something unsafe will become culturally unacceptable. 

Improve Your On-Site Security

While most business premises are safe for workers, criminals may still operate in them, posing a potential danger. For that reason, it is important to invest in on-site security. 

You can do this in two ways, according to https://www.watchmenkc.com/services/video-security-system-in-kansas/: hire on-site security staff or install a CCTV-based security system. Many companies do both because they want their colleagues to feel more secure. 

Keep Communication Channels Open

When it comes to matters of safety, employees need constant communication from staff. If there are interruptions in communication, it can lead to the formation of bad habits and incorrect practices. 

At many businesses, safety discussions are now a daily reality. Supermarkets, for instance, often hold morning meetings where they tell staff to observe protocols, such as staying away from forklift trucks. 

Create Ownership

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Another powerful tool you can use to keep employees safe is to create ownership. You do this by making safety the responsibility of all of the individuals in your team. 

The best approach is to give individual employees responsibilities to ensure other colleagues are following the correct procedures. So, for example, you might have one person ensuring that everyone wears their high-vis vests and another who is responsible for wet floor signs. 

Be Proactive
Don’t allow safety issues to go unattended before dealing with them. Instead, address them head-on before they cause injury. 

Over recent months, companies have had to become more proactive in response to COVID-19. Many are making it easy for their employees to get vaccinations. Others are providing hand sanitizers at strategic locations to keep people safe.

Be Compliant
Lastly, you’ll want to make sure that you remain compliant with all relevant workplace health and safety regulations – something you can view at https://www.osha.gov/workers. These regulations are quite minimal usually, but they also address the issues most likely to crop up in your business. Abiding by the law protects your brand while also ensuring that workers avoid some of the most common injuries.

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Keep Your Home Secure With These Five Tips

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Investing heavily in household goods and valuables leads to growing concerns about home security. With the advent of new technologies, burglars are now more sophisticated and can enter homes when they are sure the home is unoccupied, using new techniques to monitor it. You can make your home more secure by following these steps. 

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Keep Your Doors Locked 

There is no doubt that we are all familiar with the concept of locking our doors when we leave home or go on vacation, but what percentage of us make an effort when we are at home? Locking your doors while you are at home may seem counterintuitive, but it is really very helpful in maintaining the safety of your house. 

 If you want to relax in your sitting room and you don’t want any surprises to surprise you, such as a stranger in the house, then you should make it a habit to turn the key the moment you arrive at your home so you can relax when you arrive. The habit of locking your computer is also important since it teaches you how to remember to do it in the future. 

Landscape Your Garden 

It is a burglar’s dream to have a house with many trees and shrubs outside; it allows them to crouch under windows unnoticed and break the window or the door frame. If they are caught, they can also hide behind it to escape. 

 If you landscape your garden and ensure there are no unnecessary trees or bushes outside your doors or windows, you can eliminate this potential natural habitat for burglars. Consider placing these features at the bottom of the garden rather than at the top. 

Keep Your Belongings Out Of Sight

Burglars usually scout a neighborhood looking for trees and bushes to offer them cover. They will also look at what the property can offer in terms of occupations and products. Displaying your products is a bad idea. 

Make sure that you can no longer see expensive televisions, computers, or sound systems from the street. Consider talking to a product liability lawyer if you happen to be injured while moving a product, and get what you deserve. 

Keep The People Safe In Emergency 

You never know when an accident is going to happen. This means you need to be prepared. Have a first aid kit in your cupboard with items such as bandages, reusable gel ice packs, plasters, pain killers, and antiseptic cream. 

Make Your House Look Occupied

Burglars look for signs of occupied houses when they assess what sort of neighborhood they are in so that they can assess risk levels accordingly. For instance, check to see if your lights are turning on and off if the mail is piling up at your door or letterbox and if the property is in generally decent shape. 

You should always set your lights on timers, even if you’re just going on vacation for a few days. Your neighbor may also be able to help you remove snow or leaves from your path and your letterbox. 

These five tips will help you to keep your home secure. Do you have any other methods to add in the comments?

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Should You Become Self-Employed ?

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Do you want to have more control over your work, be able to set your hours, or work on things you’re passionate about? Perhaps you want to build your business around supporting a good cause, or you have great ideas that aren’t possible to realize in your current job.

If this is you, then you might want to consider self-employment. Learn about whether self-employment is for you and what to consider before going through with it.

Pros & Cons of Self-Employment

There are several good reasons to become self-employed but also many difficulties that come with it. Let’s start with the more obvious stuff.

Self-employment allows you a lot more control over, and flexibility with, your work. You set your hours, choose where you work, who you work with, and what you work on. These are great, but they come with a lot of responsibility.

Though you get more flexibility with your work, self-employment means more work hours, not less. You will also have to handle the legal matters that a company would have handled for you.

Being self-employed lets you structure your work around what’s important to you. You can solve problems you care about, follow your passion, and learn a lot of things you wouldn’t have learned from working in a company along the way. 

However, you will be out of your comfort zone. That you will be learning a lot of things is great but it’salso an indicator of how much you don’t know. You won’t have co-workers to help or teach you if you don’t know something. If you weren’t directly interacting with clients before, chances are you will have to after becoming self-employed.

In the end, it depends on what you prefer, how important the advantages are to you, and how much you’re willing to bear with the disadvantages.

Another thing to consider is how much your circumstances mitigate the disadvantages. You might have a lot of money and assets, a strong support system, or experience with a wide range of tasks. All of these could make transitioning to self-employment a lot easier

Self-Evaluate and Consider Your Options

Before becoming self-employed, you should take the time to consider if this is something you actually want to do. Ask yourself what your options are and why you’re doing this. Some people might consider self-employment because they

hate their current job or their boss.

Avoiding bad jobs is certainly a perk, but it’s not enough of a reason to become self-employed. Being self-employed comes with its own hardships and responsibilities. Quitting your job and starting your own business is something you have to commit yourself to, so make sure you go into it with enough resolve.

If you’re resolute, then it’s time to take stock. Ask yourself the following questions:

Are you disposed to having more responsibility for your work?

What are you passionate about and skilled at?

What services or products can you offer?

How much of your money and assets are you willing to utilize or risk?

This should give you an idea of what it is you want to do and what your business should offer.

Come Up with a Business Strategy

After handling all the legal requirements for forming a business, it’s time to strategize.

If you come into this without a detailed business plan, then you will be setting yourself up for failure from the very start. Analyze your competitors and set yourself apart by focusing on what’s unique about what you offer.

You will need to pick a niche, at least in the beginning. Why do people buy products or avail of services? It’s because they have a goal they want to achieve or a problem they want to solve.

They buy toys to make their children happy. They hire exterminators to get rid of termites. What are you able to offer, and who would your customers be? Start small and specific. As a newly self-employed individual, you will have little in the way of reach. Address a small set of problems and offer solutions.

You will also need a way of financing your business. This could come from your savings, family and friends, a business loan, or any other source of funding.

Once your business is up and running, you should aim to get your brand out there. You will need a website. It’s a great way to attract clients and partners. If you can afford it, you might want to hire a company to market your content.

There are many objectives you won’t be able to reach simply because you lack the manpower and specialized knowledge. Partnerships and outsourcing are a couple of great ways to compensate for this.

It will be difficult, but as long as you go into it with good reasons and a good plan, self-employment can be one of the best decisions you can make for your career. You’ll inevitably stumble, but keep at it, and you’ll be able to make things go your way.

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Surefire Ways to Live a Long and Happy Life

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No matter how positive your aura is, there are times you may feel overwhelmed and beaten down by life. In some instances, it may feel like nothing can cheer you up. However, as human beings, we live life with grit, and no matter what curveballs life throws at us, we overcome it and move forward. In this article, we show you how you can improve the quality of your life by giving you tips to live long and stay happy.

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Do the Things You Love

While this may sound like a cliche statement, doing the things you love is one of the pieces of advice that stand the test of time. Whether you love your career, spending time with friends, or a hobby, immersing yourself in it allows you to live a happy and fulfilling life. Allow yourself to enjoy the process without worrying about outcomes, as worry only reduces the quality of an experience.

Use Your Phone Well

The world is quickly going digital, and you can see it in how people spend their time. Today, the average adult spends approximately four hours a day on their phone.

However, your smartphone can serve your mission towards a long and healthy life. If you use your phone well, you can achieve a happy, healthy life. Your phone can help you stick to a schedule, plan and execute your diet, plan healthy meals and learn new recipes, and learn about exercise as you keep track of your progress.

Learn and Prioritize Self-care

With the current state of affairs, it is possible to get immersed in day-to-day activities and forget that we should take care of some of our personal needs. However, to live a long and healthy life, you need to acknowledge that your body allows you to experience the world, and you need to give back to it. Instead of allowing your body to stay tired and sluggish, you should prioritize self-care. Eat a healthy diet, drink water and exercise, read books and do the things that excite your body and soul. Despite a busy schedule, you should make time for your body.

Make Positive Changes

It is a universal law that we attract what we focus on. But, unfortunately, we lend most of our energy to negative thinking patterns and habits. To start attracting better things into your reality, you need to make some changes in your life. 

Some of the adjustments you can make include spending time with those who matter to you, quitting bad habits such as smoking, drinking, eating junk food, and incorporating exercise into your daily routine. You can also pick up a new hobby or rekindle your love for old hobbies and see how much energy and positivity you can pump into your day.

Bottom Line

Life can get busy and tedious. However, you can incorporate the above tips into your life and make some positive changes. Remember, your body allows you to experience everything around you. Therefore, it is only fair that you make time to adjust and enjoy life as it comes.

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Lease Accounting and What We Need to Know

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A lease is defined as a transaction that a company makes to have the right to use an asset. This, like any other financially-based transaction, needs to be accounted for in a timely and accurate manner. Thankfully, these days, software exists to make accounting for leases easier and quicker in terms of recording, gathering, and reporting the information.

How Does a Lease Work?

With a lease, a company will pay the other party an agreed-upon sum in exchange for the use of an asset. The asset can be a vehicle that is used for deliveries or plant hire that is used on a construction job. The latter is likely to be a shorter-term lease because the equipment may well be returned after a particular construction project has been completed.

Leases are popular with businesses as opposed to buying an asset because no down payment will be required, the monthly payments are generally lower than with bank loans, and a lease is easier to obtain where there are bad credit ratings to consider. So, there is certainly a market for leases and much to account for to keep track of them. The thing to be aware of with leases is that there can be mileage restrictions and the potential for extra fees for early terminations. This will all be in the small print and need to be taken note of on both sides where extra payments are involved.

Accounting for a Lease

Lease accounting is an important section of accounting and should be taken extremely seriously in terms of recording things accurately. Rules exist to govern the way leases are, for instance, defined. In fact, in most cases in the future, it will be as capital leases, albeit the ones that are for less than 12-months, which remain classed as operating leases.

In an accounting ledger, whether it be a paper record or a computerized one where there will be less chance of misreading figures, a journal entry will be required. This consists of debiting the lease asset account and, at the same time, crediting the lease liability account. The amount of lease asset or liability should be recorded as the fair value in terms of the total lease payments. The idea of debits and credits follows the convention of the double-entry bookkeeping system.

The principle behind double-entry bookkeeping, which computer software will take care of, as long as you enter everything from both sides, is that every financial transaction has equal and opposite effects in two different accounts. Where software accounting tools are used, all these separate accounts will be automatically integrated by the lease accounting software and appear as totals on the balance sheet to be reported on. Figures are then instantly accessible for monthly and year-end audit situations.

There are just three basic rules to accounting, whether to do with lease accounting or not:

Debit the receiver and credit the giver.

Debit the incoming and credit the outgoing.

Debit all expenses and losses but credit all income and gains.

If you know these rules, you cannot go far wrong with regards to the placement of figures in the accounts. The software can help you with this.

Accounting Standards

There is an added complication with lease accounting because there are more accounting standards to know. For instance, concerning how, in the future, leases need to be classified from a balance sheet point of view. In the past, it has not always provided a full picture to shareholders when the details of all leases were not visible. To rectify this, in the future, leases will need to primarily be recorded as capital ones, rather than be split between finance and operating leases. When they are longer than 12 months, that is.

So, it pays to know all the different accounting standards to accurately record figures in the leasing sections of your accounts. It is, after all, these figures that will ultimately be reported.

In conclusion, we need to think of the way that we record leases in our account in terms of there being debits and credits to record for each transaction and know that in the future leases will need to be predominantly recorded as capital leases. Lease accounting software exists to help us with all of this so that we can accurately record and report our lease figures in an accurate and timely way.

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