Best Mac Apps for Home Finances

Every family tracks their personal finances in some capacity. If a household did not keep track on their spending and savings than their life would be in shambles. The key to keeping an organized household when it comes to finances is to find the best resources that work best for you and your family. For me, I like to do everything electronically on my phone or laptop. I came across an app by the name of Setapp that offers many resources of this nature. Setapp is an app available to Mac users that gives you access to dozens of  top rated mac apps in one spot for a small monthly fee. At first I was a skeptical of the fee, but when you see the advantages that is provides than you will not be disappointed and will want to register as soon as possible. Below is a brief description of a handful of apps available on Setapp that I found helpful for personal finances.


One of the biggest obstacles with personal finances is timing. You have to make sure you pay all of your bills on time! With the app Chronicle which is available on Setapp you are able to track and pay bills in an easy manner by having due date reminders, payment scheduler, bill checker and budget planner. Having all of these functions in one spot is a key to personal finance success for me.


Similar to Chronicle, MoneyWiz is a great budget and bill organizer app. It allows you to track what you spend your money on and even lets you sync the app to your online banking to make things easier for you. By syncing instantly across all of your devices, it makes it real simple to quickly check your financial position at the touch of a button. It also offers specialized reports like forecasted spending to help you plan out your finances.

Home Inventory

Besides money in the bank, your net worth can include physical items. Physical items and belongings can be worth money and need to be catalogued. With the Home Inventory App available on Setapp you can keep track of the inventory in your home in an organized fashion. Cataloging your belongings with this app can be beneficial in many situations, for example you would be able to run reports to see if your home is properly insured or if all items were moved while moving homes.

Setapp allows you to access these apps as well as many others for the small monthly fee of $9.99. It simply allows you and your family to become as organized and efficient as you always hoped you could be by making it easy. Setapp can help you get a hold of personal finances, education, organization, business and many elements of your life. Try it today!


Do you own a small business? Here are 10 questions you should be asking your insurance agent.

If you own a small business one of your largest expenses is commercial insurance.  In most states general liability and workers’ compensation are required by law.  Other coverages are dependent upon the industry you operate in and the amount of risk your business is willing to take on.  There are many aspects that go in to this decision and partnering with a trusted and experienced independent insurance agent can help you save immensely on commercial insurance.  Taking some extra time to speak with this agent about all aspects of your business is important as well.  Here are 10 questions you should ask any potential insurance agent.

What is your experience and do you have any credentials? 

Experience and credentials can be used not only as a litmus test, but they can tell you a little about the experience and the knowledge of your broker.  You should not discredit a young or inexperienced agent automatically.  An agent with limited experience can make up for that with enthusiasm and energy.  A more established agent might not be as hungry for your new business and as a result they may not give you the specialized attention you need. The main thing is to get to know your broker beyond the basic information on her card or website.

Do you personalize policies?

Depending upon your industry this can be extremely important.  Many insurance carriers offer cookie cutter business owner packages and they do not deviate from those packages.  This is good for some businesses because carriers have insight through their history of claims what policies each industry may or may not need.  If you are a start-up or you have no employees this may not be necessary.  For instance, if you are a photographer who works from home you may not have a need for workers compensation coverage.  If you are in another industry where you do not own or operate any vehicles you do not need commercial auto.  Some agencies and carriers are more flexible with you when it comes to adding or subtracting coverages.  This is important to know before you purchase coverages you do not need.

Are there flexible payment options?

Pay as You Go Workers Comp Insurance Coverage is one option that can help businesses pay for their coverage monthly based on payroll instead of in one lump sum.  Pay as You Go Workers’ Compensation benefits businesses by freeing up cash for more immediate business needs, by preventing over or under paying and by drastically lowering the likelihood of a mid-term audit by your insurance carrier.  This is especially helpful for cash strapped or seasonal businesses.

How much does my policy cover?

What you are actually asking your agent is, “What are my policy limits?” A limit is the total amount your policy can pay out. For General Liability Policies there are two ways in which limits are paid:  Aggregate limit is the most your policy will pay in a single year for all claims.  Occurrence limit is the amount your policy can pay for any single claim.  Which type of policy you want for your business really depends on the types of risks you face and how much risk you are willing to take on.  Taking on more risk will help lower your premium, but will make you have to foot more of the bill when a claim does occur.  This is why it is important to take some extra time to speak long and honestly with your agent about your business and what types of risks you are comfortable with.

Can I get more coverage?

An Umbrella Insurance Policy is the best way to supplement your General Liability Coverage.  This policy will kick in when the limits of your other policies have been reached. You can purchase Umbrella coverage in increments of $1 million, and it’s often a cost-effective way to fulfill liability insurance requirements in client contracts.  It is crucial to understand that an umbrella policy only kicks in for a covered loss.  If you live somewhere with a common risk of natural disasters, like hurricanes or tornadoes, those disasters have to be covered separately. An umbrella policy will not kick if the claim is not covered by the initial policy.

Is it worth my time to implement an in-depth safety program?

The simple answer to this question is yes, it is always worth your time and effort to implement and effective safety program.  Having a safety program in place will cut down on the number and severity of injuries to your workforce.  The safety of your workforce should always be at the heart of your businesses mission.  A healthy workforce is a happy and productive workforce.  This program can also keep down what your business pays for workers compensation premium.   The program does not have to be excessively time consuming.  Including this in a weekly or monthly huddle can make a difference in the injury outcomes of your employees.

Do I really need Commercial Auto Insurance?

The answer to this question really depends on the operations of your business.  If you own and operate cars as a part of your daily business than yes, you absolutely need commercial auto coverage.  If you have employees who use their own cars for work or who drive rental cars from time to time you can cover them with a hired and non-owned auto policy.  If you have employees who drive their own car as part of their job duties, their personal auto policies will cover the damages to their car, but not the liability to other cars if the accident is there fault.  That liability falls on the business because the reason the car was at the location of the accident was because of an action of the business.

Do I really need Cyber Insurance?

Again this policy completely depends on the operations of your business.  It is important to speak long and honestly with your insurance agent about all of the electronic devices any of your employees use.  There may be risks hiding in places you might not realize.  The great thing about a good insurance agent is that they not only interact with small businesses when they purchase insurance for their business, but they also speak with business owners when bad things happen.  They can use those experiences to help you prepare for those times when bad things happen to your business. They should be able to prepare you for risks you do not even know you face.

Am I classified properly for workers’ compensation?

This is extremely important for your business cash flow. Especially, if you operate in an industry with several different areas of operation.  If you do, you need to ensure the agent classifies your business properly.  They are in the business of analyzing risk.  If you do not tell them all of your risks, then it is in their best interest to assume your business is taking on more risk.  If you do not give your agent enough information they may place your business in a riskier classification code.  This can have an enormous impact on what you pay for general liability and workers compensation insurance.   Taking just a few extra minutes to explain exactly what your business does and does not do, can save you immensely when it comes to premium.

How can I lower my premium?

If lowering your premium is a priority than tell that to your agent.  Agents interacting with a lot of people who operate in a lot of different industries and who have a lot of different priorities.  Some business owners just want their policy and they want it quickly so they can get back to running their business. To that business owner price may not be at the top of their priority list.  Other business owners may want to insure their business to the absolute largest limits possible, while other business owners are comfortable taking on more risk.  Where ever you are on this spectrum, tell that to your agent.  Let them know what is important to you and they can better serve your needs.


Mitchell Sharp is a Marketing Associate for Workers Compensation Mitchell is a Missouri Boy and a Carolina Man. He has a deep passion for social media and content marketing. Mitchell would like to use his knowledge of these subjects to benefit small business owners.

5 Vital Things No One Thinks About When Starting a Business

Starting, running, and owning your own company is the American dream. Do what you love, be your own boss, work on your own terms: what could go wrong? Well, as you probably know, many small businesses fall short of their founder’s goals for them. For one reason or another, a new company might not flourish as expected. The good news is, if you’re interested in starting your own business, there are measures you can take to guard against early troubles. Here are five important things few consider when starting a new business, but can give you an early advantage all the same:

Location, Location, Location

You might be thinking that where your business is located shouldn’t really matter very much. Especially if your company isn’t a customer-based enterprise (restaurant, bar, hair salon, etc.) However, with the advent of mobile phones and the ever-rising number of people who exclusively use their phone to access the internet, where you set up shop is nearly as important as what you do. Ensure that your business has high visibility in the “real world,” and on search engines, if you want sustained success.

Scrutinize the Competition

Smart business people aren’t arrogant. Instead, they recognize what their competitors do well, and try to learn from them. Don’t become so enamored with your own product or service that you close your eyes to outside ideas

Financing is Paramount

Passionate entrepreneurs sometimes skip over one of the most essential aspects of their business: financial viability. There’s nothing wrong with believing in your project. But before any serious work can get done, you need to have the funds available to cover your expenses. Secured business loans and merchant cash advances can be helpful tools in this endeavor, but no matter your fiscal situation, you need to be honest with yourself about it.

Hire Smarter

It’s difficult enough finding people who share your vision and are willing to work as hard as you are to make it come true. And hiring the right employee can prove one of the most difficult tasks for any new business owner. However, truly great employers find coworkers who can bring different skills to the table. Hiring people who think just like you do won’t help your company grow, it’ll just add another voice to crowd.

Get Comfortable with Working

Everybody likes orange juice, but few are willing to go through the trouble of squeezing oranges to get it. Starting your own business is like squeezing a thousand oranges every day. When you’re the boss, everything at your company reflects back on you. So prepare yourself to work harder than ever before. Just remember though, those long hours will pay off in the end.

Secret Every Entrepreneur Should Know: Be Comfortable being uncomfortable

Each entrepreneur is unique and goes about attaining goals in their own unique fashion. But even in their individuality, entrepreneurs all share a powerful secret recipe that facilitates business success.

Most entrepreneur guides offer the same advice – work hard, don’t give up, be creative, and other similar pearls of wisdom. But most of these guides often fail to point out some harsh truths about attaining success as an entrepreneur. One such truth is becoming a successful entrepreneur is hard and uncomfortable work, and staying a successful entrepreneur is even harder.

But the life of an entrepreneur being an uncomfortable battle with many fresh foes popping out of unexpected corners isn’t necessarily a bad thing. This is because fresh obstacles that block your path to success make you creative as you seek solutions, and can even inspire you to accomplish bigger things that you thought yourself incapable of. So instead of fearing discomfort, here’s how you can spin gold from straw by being comfortable while living the uncomfortable life of an entrepreneur;

  1. Your customer should always be priority.

As uncomfortable as it may sound, your customer should always be your priority. This means sacrificing your time, energy, and much more to ensure the perpetual satisfaction and happiness of your customers. Remember that each customer that is dissatisfied is a potential customer for your competitor. Prioritising your customers all the time with little time and resources for yourself might seem tasking but fortunately there are recommended productivity resources out there you can use to achieve some balance between work and life.

  1. Keep a close eye on your finances

Start-ups think they are only ones who are short on finances. But that’s not true. Even entrepreneurs who have made a name for themselves run into financial issues every now and then, and a lot of entrepreneurs have fallen of the ladder of success due to financial mismanagement at some point in their career. Thus, rather than celebrate your first success by getting comfortable and spending big, keep a close eye on your finances and try to minimise your expenditure.

This might seem harsh especially since most people become entrepreneurs because they want financial independence, but keeping your spending lean is actually a secret to success. You can keep your spending lean by evaluating your business and identifying which costs are necessary and which aren’t. Those that aren’t can be deferred or simply altogether dropped.

  1. Be open to fresh input

With all your qualifications and no matter how high you rise, the fact still stands that you don’t know all it takes to be successful. The day you know it all is the day you stop growing as an entrepreneur. So don’t be close minded. Rather, accept advice, feedback, and other input from all available sources – especially more experienced entrepreneurs as well as your customers.

In conclusion, the life of an entrepreneur is always unpredictable and this can throw your plans and budget out of whack. But rather than break under such pressure, get comfortable with being flexible and adapt to the circumstances. By operating this way, you are more likely to find a silver lining in every circumstance that you can exploit in your favour.

How Much Money Can You Safely Borrow?

Almost everyone carries at least some form of debt. In the first quarter of 2017, consumer debt in America hit an all-time high of $12.73 trillion. Household debt continues to grow every year, alongside federal and corporate debt. In other words, the country is swimming in borrowed capital.

This isn’t necessarily a bad thing. Debt of any kind can actually be beneficial if it’s used responsibly. Borrowed money can help save you time and effort in several situations, from buying a house, getting educated, or starting a new business. A quick loan from Cash Stop can help you meet your monthly expenses, buy that new car, or purchase a new piece of tech. Debt can certainly be useful in moderation.

By borrowing a sustainable amount, you can fund your dreams and complete important projects without messing up your credit score or your personal finances. Here’s how you can figure out how much money you can borrow safely:

Total Net worth

In order to borrow safely, it’s important to estimate your ability to pay back the loan. A crucial factor is your net worth. Your personal net worth is the estimated value of all your assets, minus the estimated value of everything you owe. In other words, it’s the net value of everything you possess.

When total debt is measured as a ratio against your net worth, it provides a clearer structure to your personal finances. As a rule of thumb, the lower the debt-to-net worth ratio, the more sustainable the debt.

While a debt-to-net worth ratio of less than 1x is ideal, any ratio below 2.5x would be considered relatively safe.

Interest Coverage

Another, and more precise, way to calculate debt sustainability is the debt-to-income (DTI) ratio. By measuring gross monthly income against your net debt expenses you can accurately estimate your ability to service the debt load.

Experts disagree on the ideal ratio of debt expenses to income. However, a good place to start is the recommended ratio for qualified mortgages.

Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, lenders, banks, and financial institutions can offer borrowers special protections and terms if the debt expenses or monthly interest payments are less than 43% of monthly gross income. This means a debt expense-to-income ratio of less than 0.43 would be considered safe. For home loans and mortgages, financial planners recommend keeping this ratio below 0.30.

In short, spending less than one-third of your pre-tax income every month on all your interest payments is financially sustainable.

Final Thoughts

The wealthier you are the more you can borrow. Your total wealth and gross income are important factors to consider when estimating how much money you can borrow. Banks and lenders have specific ratios in mind when they offer to extend a loan. Sticking to these ratios makes it more likely that your debt will help you grow, rather than put you in a detrimental, stressful position.

Investment ideas for beginners

Are you letting your money work for you? If not, you are missing a great opportunity to increase your personal wealth. Keeping money in a low interest account isn’t going to accomplish this. By choosing to invest your money in stocks, bonds or other options, successful investments will generate more cash for your future goals. Consider some of these potential investment alternatives.


Different than other investments, bitcoin is a currency that can be used in a number of ways to help increase one’s wealth. The most common method is simply to purchase the bitcoin currency, anticipating it will increase in value. The currency is very popular with online websites including online casinos and at, they are considering the use of Bitcoin with other online banking methods.

Certificates of Deposit

CDs permit investors to invest their extra cash. This particular investment can vary in terms. Some CDs are short term with only three months while others can be as long as 5 years. Of course, one’s specific needs will determine the better term option. However, generally the longer the investment, the better your return on investment will be.  Shop around when looking to purchase CDs as banks do vary in regards to their rates.

Peer to Peer Lending

While this is a relatively new idea, peer to peer lending bypasses traditional banks and connects consumers looking to invest with those needing a loan. Notes are purchased by investors from websites. Borrowers must go through a thorough vetting process which helps reassure investors of repayment. Each month lenders will receive a payment consisting of principal repayment along with interest.

You may choose to try one of these investment ideas or perhaps another way to let your money work for you. No matter what you decide, one important thing to remember is that you must be diligent researching any investment prior to making it.

Types of Insurance

When going to purchase life insurance, it is important that you know there are different types out there. You will need to explore all of the types to find what is best for you. Even if you have a policy, it is important that you read your policy and understand what you have. Below is a brief outline of what types of life insurance are out there.


Term life insurance is when you purchase a policy that provides you with coverage for a defined period of time. You pay a premium during that time. If you pass away before the time period elapses than you can receive the benefits, but if you claim after the time period than you can not receive the benefits. Term life insurance is known to be inexpensive and also easier to understand, making it very popular for the masses.


Whole life insurance pays a benefit for as long as you’re paying the premium. Along with the benefit, you also accrue a cash value through the years. The cash value can be used as an investment and can be withdrawn for things such as education or emergency situations but will not be distributed if not used at time of the death benefit. This type of policy is more expensive than term.


Universal life is similar to whole insurance but is more flexible because you able to increase or decrease the death benefit and cash value throughout the time period. Because of this, it is more expensive than whole insurance.


When you are employed, Group Life Insurance is often a benefit offered. Group Life is basically a contract with a life insurance company which contains a group of people. This is a benefit that can cover your needs or sometimes people have supplemental policies in addition to what is offered by their company. The convenience of this policy can’t be beat. It is typically free to the employee so they get the benefit without having to do anything.


Advantages and Disadvantages

Each type of insurance has its advantages and disadvantages. What you think is best is based on personal preference and opinion. Many families choose to hold multiple policies of each to cover their bases. You can have more than one policy


People use life insurance for many different things. Life Insurance uses include investment, cash flow, loans, chronic illness, tax shelter, supplement retirement, enhance income, and college tuition to name a few. It is best to speak to a professional about how you can use your policy to help you.

Hopefully this information allows you to understand life insurance and the types of policies that are out there.