“Live within your means, not beyond them,” is a phrase I’m sure you’ve definitely heard before. Now let’s bring that motto to life. Let’s talk about your debt-to-income (DTI) Ratio.
Your DTI informs you if you’re living within your means by balancing the amount of money you’re spending, to the amount of money you’re taking in. Once you determine how to calculate debt-to-income ratio, find out what your DTI is, what do you do with it? How do you continue working towards the perfect number, especially if you want to grow your business?
Keeping your DTI low and under control (think: anywhere under 33%!) can help you start setting goals so your financial health, and your business can grow.
In addition to keeping your DTI in check, there is also a slew of apps that can help you grow your business, connect you with clients, increase productivity, and save you time and money when you’re on the go!
Here are seven great apps to help you grow your business now.
A lost business card is a lost business connection, and that means a lost profit! If you’re an entrepreneur or a small business owner, connections are everything. Sometimes, running your own business is being in the right place at the right time to meet the right people.
CamCard turns the business card in your pocket to a contact in your phone! It scans the card, keeps the image, and links all the data. You can tap the number and call directly from the app! Now you can actually call that person you said you would on Monday morning.
If you know me, you’ve probably heard me rave about the Adobe Scan app. But I promise you, it’s as good as I’ve been saying!
I am constantly thinking of new ideas. My brain is always working and I jump from one thought to the next. A great way to keep the people I work with on the same page is being able to send them a PDF of a quick brainstorm I had. Now, I don’t have to write it all out in an email, just take a quick pic and share. Tada! They have some of my inspiration too.
There are plenty of times when we all need to scan documents or just wish we had a digital version of something so we don’t have to look through an old notebook to find it. This is a one stop shop to keeping all your paperwork in order.
QuickBooks Self-Employed: Mileage Tracker and Taxes
Are you someone who can deduct mileage for your taxes? If the answer is yes, the QuickBooks Self-Employed: Mileage Tracker is for you.
Mileage is one of the biggest tax deductions you can take when you’re self-employed. It may seem like nothing when you’re thinking cents to the mile, but if you consider that most of us drive every day and multiple times a day, that can add up to be a big expense! I’m talking to you, ride share drivers and task rabbits!
So what does the QuickBooks Self-Employed: Mileage Tracker do? It automatically tracks your mileage while you’re driving using your phone’s GPS, and without draining your phone’s battery. Your mileage data is then saved and categorized to maximize mileage tax deductions. It just takes a few minutes at the end of your day to be fully prepared come tax day. PS: This app is easier than driving!
Let’s say you’re on a work trip. You were told all the food and gas you pay for would be reimbursed, but all you have to do is save the receipts and make an expense report. Sounds simple, but if you can’t hold on to a business card, a bunch of receipts isn’t going to be any easier.
Expensify does all that work for you. Just take a picture of the receipt, using the smart scan, and the app will automatically use that info to make your expense report. The work is done with one snap!
Apps like this help make sure you don’t sweat the small stuff so you can use that bit of time to work towards your goals.
We’ve talked business cards, mileage, expenses, and scanning on the go – all apps that help you in your work. But don’t forget about yourself and your personal financial health!
It’s a universal complaint, Millennials just weren’t taught about finances. We’re all just playing adult hoping we’re doing it right, but sometimes that means we’re not paying attention to the things that do matter.
As I mentioned above, your DTI is a key financial health indicator that shows if you’re living within your means and helps determine how big of a loan you may qualify for.
Turbo gives you your accurate DTI number plus customized tips for better money management: improve your numbers, pay off your debt sooner (student loan, mortgage, credit card and more), and better your overall financial health. Now, it IS up to YOU to get the good credit score, but Turbo will definitely help you understand why your score is what it is and give you direction to on how to improve it. Wondering how to check your credit score for free? Turbo makes it easy!
If This Then That. It took me 7 tries to say it out loud but it’s easier to use than say. It’s like delegating tasks but as an app. This is a handy tool for any person, business, or both!
The app basically does what it says. For example “If I post a photo to my Instagram then post it to Twitter.” or “If I get an email from this person then notify me.”
The app also has tons of features and combinations – it could (almost) run your life! It’s one of those apps that just works. It even connects to your smart home. As I make my home smarter I love the idea that I can connect habits with one app.
Customer service is a huge deal. I am definitely the person who will tweet a company if they aren’t responding to their email. Sometimes, sliding in the DM’s is the only way to hear back.
Intercom helps companies get to people quicker, so we don’t have to do a 1am “You up?” just to know why something isn’t working. It is a great customer messaging app for your business that integrates a help desk and knowledge base to solve your customer problems faster. Never leave a customer left on ‘read’ again.