Author: Kamrul Hasan Noor
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Comprehensive Guide to the Types of Accounts
In the complex accounting field, it is important to understand the different types of accounts to manage business financial health effectively. Accounts, considered from an accounting perspective, are the foundation of the financial statements usually giving insight into an entity’s financial situation and performance. These accounts are divided into five main types: assets, liabilities, owner’s equity, income, and…
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Free Debt Snowball Spreadsheet
While managing multiple debts can be complex, a well-crafted strategy can simplify the process and pave the way for financial freedom. The debt snowball method is one such strategy that has helped countless individuals and small business owners take more control over their finances. By focusing on paying off your smallest debts first, you build…
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Debt Snowball vs Avalanche – Which Debt Repayment Method is Right for You?
When tackling multiple debts, choosing the right repayment strategy is crucial, and understanding the differences between the Debt Snowball vs Avalanche methods can make a significant impact on your financial future. Developing a clear financial strategy is key to effectively managing and reducing debt. It helps in focusing on which debt to pay off first,…
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How to Pay Off Debt Quickly Using Debt Snowball Method
Have so many debts that you cannot even choose the right one to pay off? Are you overwhelmed by credit card bills, student loans, or medical debts? You are not the only one; millions of people have the same problem with their debts. But don’t worry, one effective strategy to achieve financial freedom is the…
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How 70/20/10 Budget Rule Works
Budgeting is the safety net that ensures you have control over your finances, and one of the simplest yet most effective budgeting methods is the 70/20/10 budget rule. The 70/20/10 budget rule is a simple yet powerful framework that offers a structured approach to managing your finances, ensuring that your money works hard for you.…
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How to Save Money Biweekly: Your Step-by-Step Guide
If you get paid twice a month how to save money biweekly? Disclosed the hidden tricks of savings challenges to achieve financial goals. Saving money can often feel like an overwhelming task, especially if you’re living paycheck to paycheck. However, when you change your strategy and know how to save money biweekly, you can gain…
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50/30/20 Budget Rule: Smart Money Management
Have you heard the name of 50/30/20 budget rule for managing personal finance effectively? It is a simple yet powerful framework that can help you allocate your income wisely and work towards your financial goals. Feeling overwhelmed by your finances? Struggling to save while still enjoying life’s pleasures? The 50/30/20 budget rule could be your…
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7 Best Free Budgeting Apps
Find 7 best free budgeting apps to manage their finances by tracking income, expenses, and savings. Budgeting apps have revolutionized the way people manage their finances. With the advent of technology, tracking expenses, setting financial goals, and saving money have never been easier. This article delves into the best free budgeting apps available today, offering…
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Excel Budget Spreadsheet Template Free Download
Learn about how to create an Excel budget spreadsheet template and get a free template file for personal or small business. Budgeting is a crucial aspect of managing both personal finances and business operations. It helps you predetermine costs and revenues and compare them with actual outcomes to analyze performance. This process allows you to…
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Single Entry vs Double Entry Accounting: Which Method is Best?
Choosing the right accounting method for your business is crucial for accurate financial management. There are two main choices: single-sided and double-sided accounting. While both systems record financial transactions, they differ significantly in complexity, accuracy, and the depth of financial insights provided. This article explores the details of single entry vs double entry accounting to assist you in deciding which is most suitable for your business requirements. Single Entry vs Double Entry Accounting Double entry accounting and single entry accounting are two primary methods for recording financial transactions. Here is a comparison of their main distinctions. Single…