If we're connected on LinkedIn, you may have seen some of my recent posts promoting grants. I love grants because they are infused cash without having to be paid back. These days, there are grants out there that also have a mentorship aspect. This means when you're awarded the grant you'll have access to monetary and non-monetary resources to take your business to the next level. Now don't get the wrong idea, there's nothing wrong with loans. If you're qualified to receive lo

What is a Money Whisperer and what does this Money Whisperer do?

Dear Olga, I started freelancing a few years ago and still don't understand how taxes work. HALP! Thank you, Anonymous Dear Anonymous, Taxes can be incredibly confusing and daunting especially as a creative. Admin business tasks probably make your skin crawl 😖 I promise this won't be painful 🤗 Your tax rate is 15.3% to cover Social Security and Medicare. Typically as an employee, you split this cost with your employer. Now that you're self-employed, you're considered an emp

Dear Olga, I am writing a business plan for my business but I have a challenge with the financial statement and how to go about it. Please, can you guide me on how to write an accurate financial statement plan? Thank you, Amina Dear Amina, Starting a new business is so exciting, congratulations! 👏👏👏 While working on my MBA degree, I wrote several business plans each semester. To help me stay on track with all of the things that were required for each business plan, I used

Most people I speak with aren't thrilled to start our money talks. Some people feel anxious and stressed because that is what they are used to feeling when it comes to money. They want things to change but they also acknowledge that this change isn't going to be easy or occur overnight. It can be a reluctance to downgrade their lifestyle or fear of facing the consequences of their mistakes from their past. Everyone has their own reasons for avoiding their finances. Knowing yo

Dear Olga, Is there an inexpensive accounting software that is easy to use? Or would that be too good to be true? Thanks, Me Dear Me, Believe it or not, there are quite a few options that are cost efficient out there! One of the fabulous benefits of cloud computing is things like accounting software are available to more people and can be more affordable than ever. When I worked at a CPA firm for several years, the majority of our clients used QuickBooks because it has a soli

Dear Olga, I have a new business and have modeled my budget in a very similar way to my personal budget but now I am wondering if I should be using a different method. Are personal budgets vastly different from a business in its infancy? Data Gal Dear Data Gal, Congratulations on your new business! An exciting adventure 😊 Finance is one of those areas that is ignored at first by many businesses, because the focus is more on making money to have cashflow to continue developin

Whether you're starting a new business or running an established operation, it's great to get the word out about what you're working on. Many businesses hire PR firms to help advertise their work and accomplishments, but what do you do when you have a limited budget and can't afford a PR firm right now? One tool I found recently that could be a great solution, if you can't afford a PR firm, it's called HARO (Help a Reporter Out). It's essentially a mailing list of journalist

I launched the Rags to Riches website and blog a month ago and I can't believe how quickly the month passed. Anyone who personally knows me, knows how much I love to learn. One time an interviewer asked me if I could make a perfect job, even if it doesn't exist, what would it be. My answer was: if there was a way to incorporate going to school and getting paid, that would be my perfect job. This experience has been full of learning experience in managing a business, creating

A few weeks ago Jeff Bezos topped Forbes' billionaires list. Yet in April 2018, Amazon was listed on the US National Council for Occupational Safety and Health's Dirty Dozen list for having dangerous working conditions. At what point do businesses and business owners stop being responsible for the imprint they leave on their employees and the environment? As a business owner, I understand the importance of maximizing your revenue and minimizing expenses but at what cost? Whe

After several years of contemplating this passion project, I decided to put my passion for finance and helping people to good use by offering advice to people and start-up owners. I want to help people face their financial fears and teach them good habits that can help them tackle any challenge they are facing now and any obstacle they may face in the future. There is a lot of noise that we have to filter through daily. Sometimes life happens and you lose your path, all you n