Financial Empowerment Digest #01: Budgeting, Debt, and Resilience Strategies for 27 Jan - 2 Feb 2025

Taylor, CPA, MBA

Financial Coach for Corporations & Professionals - Reducing Financial Stress, Boosting Productivity, and Driving Growth | 25+ Years of Expertise | TEDx Speaker ??? | Author

January 27, 2025

Your Weekly Digest: Budgeting, Debt, and Resilience Strategies Welcome to Financially Empowered, your go-to newsletter for actionable strategies to reduce financial stress, achieve stability, and build lasting wealth. Whether you’re a corporate leader empowering your team or a professional seeking financial resilience, this space is for you.

This Week’s Highlights

1?? Inflation Sparks Corporate Financial Wellness Growth

2?? Tax Strategies for Small Businesses in 2025

3?? Debt Restructuring Tips for Professionals

1. Inflation Sparks Corporate Financial Wellness Growth

URL: Inflation Sparks Corporate Financial Wellness Growth

Publisher: PR Newswire, 01/11/2022

Overview: Rising inflation is prompting businesses to invest in financial wellness programs to support employee productivity during economic uncertainty.

Key Points:

1. A survey indicates that nearly seven in ten working adults would perform better if their employer offered more financial wellness benefits.
2. Financial stress, exacerbated by inflation, negatively impacts workplace productivity.
3. Employers are encouraged to implement financial education and wellness programs to mitigate these challenges.

Financial Coach’s POV: Implementing financial wellness programs can alleviate employee stress, leading to enhanced productivity and overall workplace satisfaction.

2. Tax Strategies for Small Businesses in 2025

URL: What's New This Tax Season That Can Save You Money?

Publisher: The Wall Street Journal, 27/01/2025

Overview: The 2024 tax season introduces several key updates that small business owners can leverage for financial optimization.

Key Points:

1. The IRS has upgraded its online services, enhancing the taxpayer experience and making it easier to track refunds.
2. New rules include a lowered threshold for online sales reporting via 1099-K forms, which now starts at $5,000 instead of $20,000.
3. Taxpayers can benefit from disaster relief, especially those in designated areas or affected by specific events between 2020 and 2024.

Financial Coach’s POV: Staying informed about tax changes and utilizing available resources can help small business owners optimize their tax strategies and enhance financial stability.

3. Debt Restructuring Tips for Professionals

URL: High cost of living is top financial wellness concern for employers?

Publisher: Human Resource Executive, 31/10/2023

Overview: Employers are increasingly focusing on financial wellness programs to help employees manage debt amid rising living costs.

Key Points:

1. The high cost of living has become the top financial wellness concern for employers.
2. Employers are implementing financial wellness programs, including debt management and financial education, to support employees.
3. Personalized financial coaching is emerging as a preferred solution to address individual financial challenges.

Financial Coach’s POV: Professionals should take advantage of employer-sponsored financial wellness programs to develop effective debt management strategies and improve financial well-being.

Conclusion:

That’s all for this week! Did you find this helpful?

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Useful Resources to Take the First Step

• ??? Free Tools & Guides: Explore practical financial tools on my Free Resources Page.
• ?? TEDx Talk: Watch Dreams to Disability: How to Financially Prepare for the Unexpected—ranked as one of the Top 10 most-watched TEDx talks in September 2024!
• ?? Books for Financial Empowerment:?

Purchase on Amazon - Broke to Wealth & Limitations to Limitless

?? Follow for Inspiration: Connect with me on ?Instagram, LinkedIn and Tiktok.

Take the First Step Toward Empowered Employees

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