Be aware of these overspending traps

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While it’s always easy to say that you want to save money, the act of doing it could be a challenge, especially if there are overspending traps that exist in many personal and social aspects. Here are some examples of spending traps that you should avoid.


Sales: Sales are one of the most common spending traps that consumers always fall for. Strong advertising techniques urge buyers to purchase things when the prices are slashed off, even if there is absolutely no need to buy them. A good way to avoid this trap is to do a bit of research and know the actual prices of things you want to buy, and consider if they are really worth it.


Purchasing with credit cards: According to a research by the Massachusetts Institute of Technology, people using credit cards spend twice as much as those who actually pay for cash. Credit card use is responsible for falling into so much debt because one tends to buy things they can’t afford as long as they can “pay for it later.”

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Giving into peer pressure: People spend so much money on going out and purchasing just to keep up with friends who can actually afford to. If you don’t have the money to go out for a night out or for a fancy dinner, resist the urge and try to use the money for necessities instead.


Bharti Jogia-Sattar’s stepping stone in the corporate world was Total Real Estate Management, where she was accountant for three years. Afterward, she got an offer from Glenwood Financial Group, Inc. to be Assistant Controller. Now, she is an independent consultant in the greater Los Angeles metropolitan area, specializing in finance, real estate, and investments. For more articles like this, visit this page.

Why soft skills matter now more than ever in the workplace

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In the work environment that demands well-roundedness and continuing development, technical skills aren’t the only currency of good employees. Soft skills are also highly sought after – they’re people skills or emotional intelligence that establish one’s ability to interact with others. Here’s why soft skills are more important today than ever.


Soft skills are personal attributes that can shape and affect relationships, communication, and interaction with others. They include traits such as presentation, problem-solving, creativity, teamwork, negotiation, and working under pressure. They are an essential component of finding, attracting, as well as retaining clients and customers, and surviving in business, especially in cutthroat industries where service can make the difference.


Soft skills matter because they are harder to learn. While they are teachable and can be learned over time, they are more challenging to develop given the fact that they have little to do with knowledge or expertise but are closely linked to the character. Hard skills are also deemed useless without soft skills – technical know-how alone isn’t enough to be truly effective in most jobs out there.

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The modern workplace is also highly interpersonal, where soft skills such as collaboration, listening, and communication are all greatly valued. Also, customers have begun to demand soft skills, as technology has brought about more competitive prices and convenience and customer service is usually what influences the choice to use or support a particular product or service.


Soft skills are in-demand today more than ever for these reasons and this: the workplace of the future will rely on them, as they fast emerge as the differentiator in the digital economy.


Bharti Jogia-Sattar is a financial executive in the greater Los Angeles metropolitan area with a broad expertise in financial and corporate management. Read more about her expertise in financial and corporate management on this page.

Accounting: To outsource or to hire in-house?

Hiring an accountant is essential for most businesses as their expertise in analyzing financial data, preparing, report, and maintaining financial records, filing taxes, and doing other financial tasks help ensure the financial integrity of the business. Two of the most common ways to acquire the services of an accounting professional are to employ accountants or outsource the services. They offer distinct advantages, namely the following:

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In-house

With an in-house accountant, businesses would have more control over their financial management. This is especially advantageous for organizations that have specific or unusual accounting requirements. If the leaders desire the accountant to share in the same culture, it is better to employ one.


Hiring in-house would also result in more efficient collaboration with the accounting staff because they are always in the same vicinity, and not a phone call or email away.

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Outsource

One of the primary reasons businesses opt to outsource their accounting needs is that they are cost-effective. Rather than have more workers in the payroll and shell out additional overhead expenses, they can save money by just paying a third-party accountant to do the job. There would also be no need to train accounting employees, and instead, allot more time for value-adding activities.


Outsourcing can also help reduce the risk of fraud, as long as the right accounting professionals or companies are hired.


For more accounting articles, visit this Bharti Jogia-Sattar blog.

Rookie accounting pitfalls company owners should look out for

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Many companies have been brought down by the mistakes of their financial officers and accountants. While some business owners could dismiss small accounting mistakes as negligible, their frequency could create huge holes. And then, some mistakes are so egregious, they cause not only financial problems, but legal ones as well. Experienced accountants are wary of these pitfalls. It’s the younger accountants that need to keep their eyes peeled.


Take for instance the common act of mixing personal and company expenses. This is also an easy mistake to spot. While some company owners and execs may try to slip some of their vacation expenses to the company, experienced accountants know that letting this kind of dealing slide may lead to incredibly serious repercussions, especially if the IRS decides to get involved.

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It’s the responsibility of the accountants and financial officers of a company to educate business owners on the serious consequences of the organization getting caught mixing these receipts.


Another rookie accounting mistake is not staying up to date with the tax laws of the state. Experienced accountants know all too well that tax laws are updated every so often. The company should be notified of such changes, and in the frequency they occur. Staying on top of these updates means that the business can avoid paying the wrong amount at the right time and avoid massive fees and penalties.


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

A Brief History Lesson On REIT

Former President Dwight D. Eisenhower is revered by countless Americans, listing him among the best Commanders-in-Chief that the U.S. has ever had. During his time in office from 1953 to 1961, there were plenty enduring programs and innovations that the country still benefits from up to today. Some examples were the Interstate Highway System, the establishment of NASA, the Civil Rights Act of 1957, and the Atomic Energy Act, among others.

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His presidency was also known for widespread economic prosperity throughout his two terms, save for a minor recession that hit the nation in 1958. One of the economy-related legislations that gave investors additional opportunity to build wealth was the Real Estate Investment Trust (REIT) Act in 1960, which was contained in the Cigar Excise Tax Extension.
REIT merged real estate and stock-based investment, giving small investors an avenue to access an investment instrument that had previously been available only to large institutions or high-net-worth individuals.
The act also aimed to encourage REITs through a unique tax status – companies that meet strict, specific criteria as REITs are exempted from contributing income tax on qualifying income.
More than five decades after the REIT Act was passed, REIT.com reports that “the industry has grown to a $1 trillion equity market capitalization and nearly $2 trillion in real estate assets.” That number is from the U.S. alone. Investors around the world are embracing the investment instrument because of the many advantages it brings.

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Bharti Jogia-Sattar is a financial expert who started her career with a real estate institution. For similar articles, subscribe to this website.

The Proper(Ty) Choice: Why Add Real Estate To Your Portfolio

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Any financial advisor would tell you that real estate is integral to any investment portfolio. Despite threats of recession, real estate tends to increase in value, offers a steady cash flow from rentals, and presents investors with tax incentives. As buyers get to pay loans in full, buyers can focus on appreciating the property’s value with the simplest improvement or renovation.

It is also worth noting that this asset type has little correlation with the stock market. As time passes, real estate investments can reduce risk and increase returns in one’s overall investment portfolio. One sound advice is to divide a chunk (capping at 20%) of your risk assets to real estate investment trusts or REITs, both local and foreign.

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REITs often come in index funds and exchange-traded funds or ETFs, and these are the sound choices for new players in the industry. REITs can come in the form of various properties like retail stores, storage units, apartments, offices, hotel rooms, and even hospitals, therefore providing a better range of investment options for your capital.

Real estate assets in the form of REITs are highly recommended as shares of these trusts are easier to sell than any physical property. It thus allows for more liquidity for owners. Unless buyers are looking to quickly and directly own real estate, REITs should be the better option for the present.

Bharti Jogia-Sattar is a financial executive in the greater Los Angeles metropolitan area with a broad expertise in financial and corporate management. To know about her work, visit this website.

Project Management: Dealing with the Triple Constraint

All project management deals with the famous “Triple Constraint,” which is also referred to by other terms, such as the “Project Management Triangle,” or the “Iron Triangle.” These three are the forces that govern every organizational project and which project management aims to control:

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•  Time: This constraint refers to the actual time when the deliverables, tasks, and the end result of the project need to be accomplished. Every project should have a deadline to maximize resources and achieve goals. Among the constraints, time is the only non-recoverable commodity.

• Cost: Every project entails finite financial resources to complete. Project management provides an estimation of various cost streams involved in the project to make sure that sufficient funding is allotted for every aspect of the project.
• Scope: The scope defines the quality of the project and how the tasks should be delivered. It should be identified upfront to increase the likelihood of project success and to manage everyone’s expectations.

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Every project manager must be knowledgeable of these constraints and how they relate with one another. For example, improving the quality of a deliverable can result in an increase in cost and adjustment of schedule. The discipline of project management enables the project manager and his team to work around these constraints and meet all organizational requirements.

Bharti Jogia-Sattar is an independent consultant who has helped various firms through her hands-on brand of leadership. Project management is just one of the wide range of skills she has developed throughout her professional career. Follow this Facebook page for similar articles.