The Rise Of Crypto-Friendly Businesses: Opportunities And Challenges

This is a guest post by Myrtle Bautista

Cryptocurrencies have emerged as a powerful force in the global economy over the past decade. Businesses and enterprises of all sizes are realizing the potential of cryptocurrencies in their operations. Initially, Bitcoin and other cryptocurrencies were viewed as a niche asset class, limited to a small group of tech-savvy individuals. However, the use cases of these digital currencies are transforming the business landscape. 

This article will discuss the opportunities and challenges presented by the rise of crypto-friendly businesses. But before we dig into it, let's know precisely what cryptocurrency is.

What Is Cryptocurrency?

Simply put, a cryptocurrency is a digital currency that uses cryptographic systems to make online transactions safer and quicker without any mediators. It means that cryptocurrencies are not regulated by any central bank, making them immune to any third party intervention. Investing in cryptocurrencies can be very lucrative if a proper strategy is built before jumping into it. Some of the most popular cryptocurrencies nowadays are Bitcoin, Ethereum and Ripple. 

The Rise Of Crypto Friendly Businesses

Crypto-friendly businesses are companies that have integrated cryptocurrencies into their operations by accepting crypto payments or providing services related to cryptocurrencies. These businesses have recognized the potential of cryptocurrencies as a viable payment option and have taken steps to accommodate this growing trend.

What Can Crypto Do For Your Company?

To spark your company's thinking about crypto, below are mentioned some of the rationales behind why some businesses are currently using crypto:

• Introducing cryptocurrency now may help raise internal awareness of this new technology in your business. It also may help the business position itself in this vital growing field for a future that could include central bank digital currencies.

• Certain options are available with cryptocurrency that are simply not with fiat currency. Programmable money, for example, can enable real-time and precise revenue sharing while increasing transparency to facilitate back-office reconciliation.

• Cryptocurrency provides a new avenue for improving a variety of more traditional Treasury tasks, such as making money transfers simple, real-time, and secure, helping strengthen control over the enterprise's capital and managing the risks and opportunities of investing in digital investments.

Cryptocurrencies have gained popularity over the years, attracting businesses and individuals who want to invest or accept it as a form of payment. Crypto-friendly businesses have emerged and are exploring the opportunities that come with it. However, this new technology also poses some challenges. Let us take a look at the opportunities first.

The Opportunities

Increased revenue

Companies accepting cryptocurrencies as payment are able to boost their revenue by reaching a new market of clients who use digital assets. They can potentially attract crypto users searching for new ways to spend their digital assets.

Global accessibility

Cryptocurrencies are not restricted by borders and can be used by anyone from anywhere. Cryptocurrency users can securely store and access their holdings from anywhere. For example, anyone who invests in Bitcoin, can manage bitcoin anywhere in the world. Businesses that accept cryptocurrency can simply transact with international consumers without worrying about currency exchange rates.

Lower transaction fees

Cryptocurrencies such as Bitcoin or Ethereum have lower transaction fees than traditional payment methods such as credit cards. Accepting Bitcoin can potentially reduce transaction costs and increase translation speed, making it a very practical; choice for enterprises.

Security

Since transactions are encrypted and cannot be altered, they provide high levels of security. Accepting cryptocurrencies can help businesses avoid fraudulent activity like chargebacks and identity theft.

Early adopter advantage

 As cryptocurrencies become more widely used, organizations that embrace the technology early on may have a competitive advantage over those that do not.

The Challenges

Volatility

Cryptocurrencies are widely known for their high volatility, which puts businesses that accept them as payment at risk. Cryptocurrency price fluctuations can influence the value of a company's revenue, which can be difficult to control.

Lack of regulation

 The cryptocurrency industry's lack of regulation might be a hurdle for businesses who wish to accept it as a payment method. The legal status of cryptocurrencies varies across countries, making it difficult for enterprises to navigate the legal landscape.

Technical expertise

Since cryptocurrencies are a complex technology, businesses must have the technical expertise to properly integrate them into their operations. Small firms, in particular, may lack the resources to invest in the technical skills required to accept cryptocurrency.

Limited acceptance

Despite their growing popularity, cryptocurrencies are not yet widely recognised as a means of payment. Businesses that take cryptocurrencies may not have a big number of customers that utilize them, limiting their earning potential.

Security risks 

Cryptocurrencies are susceptible to hacking and other security breaches, and businesses that accept them as a form of payment must have robust security measures in place to protect themselves and their customers.

Conclusion

In conclusion, crypto-friendly businesses have the potential to benefit from increased revenue, lower transaction fees, global accessibility, security, and early adopter advantage. However, they also face challenges like volatility, lack of regulation, and technical expertise. Businesses that want to embrace digital currencies must weigh these opportunities and challenges and develop a strategy

Meet Myrtle Bautista

Myrtle is a journalism major, a social media marketer and is now exploring freelance writing. She's fond of anything related to health and wellness, and when she's not writing, you'll find her doing long-distance cycling, ultramarathons, hiking, or in a local cafe enjoying a good cold brew.

How I Made Over $11K Blogging Income in April 2023

Welcome to my monthly income report, where I share my blogging and social media earnings. I figured I could make this a thing on the blog - This report not only demonstrates that it's feasible to generate income through blogging and social media, but also holds me accountable to my goals. If you're interested in learning more about my income sources and accessing valuable resources to start your own business, I encourage you to join The Climb membership.

In today's ever-changing economy, it's more crucial than ever to create multiple streams of income and avoid relying solely on a job or a single source of earnings. The ongoing pandemic has taught us the importance of adaptability and resilience, as well as the need to have a solid financial footing. By diversifying our income streams, we empower ourselves with greater financial security and freedom. Instead of being vulnerable to economic uncertainties, we become architects of our own financial destiny. Building multiple streams of income allows us to weather storms, seize new opportunities, and cultivate a life of abundance. This blog serves as one of my income streams and I am hoping this article inspires someone who has been thinking about starting a business on the side to take that leap.

If you remember from March’s income report, I mentioned that earlier this year, I set a goal to monetize my blog and significantly increase my income. As someone who has a deep passion for blogging, it has evolved far beyond a mere hobby and become an activity I genuinely enjoy and dedicate substantial time to. Consequently, I'm eager to explore its potential and see how far it can take me.

So far this year, my blog has earned $28,0161.81. In April alone that income was $11,118.00. All the revenue I'm reporting here is directly attributed to my blog and social media platforms, particularly Instagram. For a detailed breakdown, you can find the information on The Climb membership page, which I encourage you to join.

By becoming a member of The Climb, you will get access to all my income reports and their sources, you'll gain exclusive access to comprehensive insights into how I monetize my blog and Instagram. Additionally, you'll receive valuable resources designed to help you start your side business, enhance your online presence and effectively monetize your own platform. As a member, you'll also become part of a supportive community of like-minded individuals who share the same aspirations and are embarking on a similar journey.

Generating income on the side is undoubtedly possible, but it requires dedication, time, and effort. If you're willing to invest in it, be consistent and stay true to yourself and your values, the opportunities are limitless.

So, let us embrace the entrepreneurial spirit within us, explore diverse income-generating avenues, and create a future where our financial well-being is firmly in our own hands. Remember, in today's world, having multiple streams of income is not just an option; it is a necessity for a prosperous and fulfilling life.

How to Find Work-Life Balance as a Working Parent: Tips and Tricks from an “Unorthodoc” Mom

Are you a working parent struggling to balance work and family life? Don't worry, you're not alone! Finding work-life balance can be a challenge, but there are tips and tricks that can help. As an "UnOrthoDoc" mom, I know firsthand how important it is to prioritize balance, accept help, create boundaries, and take time for yourself. Balancing work and family life isn't always easy, but with some effort and these tips, you can find solutions that work for you.

PRIORITIZING BALANCE

Let's start by discussing the importance of prioritizing balance. It's not feasible to cater to everyone's needs, so it's crucial to deliberately choose to prioritize balancing your work and family life. This entails making well-informed decisions, such as finding a job that's not overwhelming, modifying your work schedule to create a better balance, or even considering a family size that you can raise responsibly.

However, let's face it, striking a balance between work and family life can be quite challenging. This is why it's essential to have conversations with your family and gather their diverse perspectives. By asking them how they feel about your work and listening to their honest opinions, you can identify areas that require improvement and make them feel heard. Furthermore, they will understand your work situation better.

ACCEPTING HELP

Accepting help is crucial in achieving work and family life balance. It's essential to overcome the fear of asking for assistance from friends and family whenever necessary. Whether it's picking your kids from school or taking them to their extracurricular activities, having someone you can trust to support you with these tasks can significantly ease your burden.

CREATING BOUNDARIES

Prioritizing boundaries is essential for balancing work and family life. It's crucial to draw clear lines that protect both aspects of your life from distractions. You can establish rules such as avoiding work-related phone calls during meals or not checking emails while on vacation. This approach will demonstrate to your family that they are a priority while also safeguarding your work.

Of course, it's impossible to achieve a perfect balance between work and family all the time. Sometimes, work obligations or family emergencies will require you to make sacrifices. However, it's important not to let this imbalance become a norm. Try to take every opportunity to bring the scale back to the center and maintain equilibrium.

TAKE TIME FOR YOURSELF

Prioritizing self-care and taking time for yourself is essential to achieving a balanced life. Don't forget to schedule time for relaxation and rejuvenation, whether that's through exercise, binge-watching your favorite TV show, or enjoying a walk in the sunshine. Taking vacations can also be a great way to recharge.

It's important to keep in mind that there's no one-size-fits-all approach to balancing work and family life. What works for one person may not work for another. By implementing some of these tips and making an effort to find solutions that fit your specific needs and preferences, you can achieve greater balance.

If you're interested in learning more about living an "UnOrthoDoc" life as a mom, check out my blog for additional insights and inspiration.

THE BALANCING ACT:

Being an orthodontist and owning a practice means that finding balance between work and family life can be quite challenging. Before having a child, my primary focus was on growing my practice and achieving my personal goals. I enjoyed being able to travel on a whim and take time off for myself. However, after becoming a mother, I quickly realized that I needed to find a way to balance my professional aspirations with my responsibilities as a wife and mother.

It has not been an easy journey, but I have learned to prioritize and delegate tasks to make it work. I have a great team at my practice who I trust, and they help ensure that things run smoothly even when I'm not there. I have also become more efficient with my time and try to maximize the hours I have available to work.

While I take pride in my career, I have also come to understand the importance of slowing down and being present in the moments that matter. I don't want to miss out on my child's milestones or the little things that make life worthwhile. To achieve this, I make a conscious effort to create a more balanced life. I focus on things that bring me joy and fulfillment, and I have learned to say no to things that aren't essential.

It has been a worthwhile journey, and I am proud of the life I have built for myself and my family. I want my child to understand that it is possible to have a successful career and a happy family life, but it takes work and prioritization. I look forward to continuing this journey and living at a slower pace, where I can savor and appreciate the most important moments in life.

What It's Like Being a Semi-Retired Dentist

A guest post by Dr. Reginald Baker, Jr

Dentistry is a 15 year career. You may want to read that again. I remember this sentence vividly from the speaker at my Dental School orientation session. - Dr. Baker

Becoming a dentist was a dream come true for me. After years of hard work, I was able to build a successful career in dentistry that spanned 15 years (essentially). It was a journey that took me through two different jobs, earning a substantial income in the first four years out of dental school, and eventually purchasing and selling my own dental practice.

As a young dentist, I was focused on building my career and making a name for myself in the industry and my community. My first associate job out of dental school was working in a rural healthcare setting which offered student loan repayment. That helped tremendously in cutting that bill down so that it wasn’t as daunting. That job was rewarding and allowed me to develop my skills. It lasted for almost 2 years until I was offered a position with a group practice making more than double my previous salary. Of course I jumped at that opportunity.

I worked tirelessly to improve my skills and provide the best possible care for my patients. My hard work paid off, and I was able to earn a great income that allowed me to live a comfortable life.

Along the way, I was also smart with my money. I made great investments and lived within my means, saving as much as possible for the future. This allowed me to purchase my own dental practice and eventually sell it at the 15-year mark.

Now, as a semi-retired dentist, I am able to work in dentistry when I feel like it, while also living the life of my dreams and taking care of my family. I no longer feel the pressure to constantly build my career or work long hours to make ends meet. Instead, I am able to focus on what truly matters to me - my family and my own well-being.

My desire now is to live a quiet, slow-paced life where I can watch my young son grow up and catch every milestone along the way. Being able to be present for my family is truly a blessing, and something that I will never take for granted.

Looking back on my career in dentistry, I am proud of what I accomplished and the impact I was able to make in the lives of my patients. However, I am equally proud of the life I have built outside of dentistry - one that allows me to prioritize my family and my own happiness above all else.

In the end, being a semi-retired dentist has allowed me to achieve the perfect balance between work and life. I am able to work on my own terms, while also enjoying the freedom and flexibility that comes with financial stability. It is a life that I am truly grateful for, and one that I will continue to cherish for years to come.

Dr. Reginald Baker has founded the Brand SemiRetired

- a lifestyle brand that aims to emphasize a financially independent lifestyle. He believes that to work for many years and only enjoy a few just didn’t make sense. In his words, “We have to stop living at work and start working at living. Thats the true definition of being Semi-Retired.”

More about Dr. Baker & his brand

As the owner of Semi-Retired, a successful consulting business, I've had the luxury of being able to semi-retire at a relatively young age. For years, I had been putting in long hours and working tirelessly to build my business from the ground up, but now I've reached a point where I can afford to take a step back and enjoy some of the fruits of my labor.

But that doesn't mean I've stopped working altogether. Instead, I've found a happy medium between work and play. I still take on a few clients each year, but I'm much more selective about the projects I choose. I've also been able to delegate more responsibilities to my trusted team of employees, which has allowed me to focus on the areas of the business that I'm most passionate about.

One of the biggest benefits of semi-retirement has been the ability to travel more. My wife and I have always enjoyed exploring new places, but when I was working full-time, it was difficult to get away for more than a week or two at a time. Now, we're able to take longer trips and really immerse ourselves in the local culture.

Of course, there are some downsides to semi-retirement as well. It can be difficult to let go of control and trust others to run the business in your absence. And there's always the risk of losing touch with industry trends and falling behind the competition.

But overall, I feel incredibly grateful for the opportunity to semi-retire at such a young age. I've been able to achieve a level of financial stability that I never thought possible, and I'm able to enjoy the simple pleasures of life without the stress and pressure of running a business full-time. It's the best of both worlds, and I wouldn't have it any other way.

Attaining Financial Independence

Financial independence is a dream that many people share, especially in the United States. The ability to live comfortably and support oneself without worrying about the next paycheck is a goal that most people aspire to achieve. However, there are many factors that can affect a person's ability to attain financial independence. In this blog post, we will discuss some of these factors, including student loan debt, the cost of owning and running a dental practice, and the cost of having children and touch a bit on the Financial Independence Retire Early (FIRE)movement as it relates to all this.

Student Loan Debt

One of the biggest financial obstacles facing many Americans today is student loan debt. According to the Federal Reserve, the total amount of outstanding student loan debt in the United States is over $1.7 trillion. This debt can take years, if not decades, to pay off, and can make it difficult to save for retirement or achieve financial independence.

To make matters worse, the interest rates on student loans can be quite high, which means that even making minimum payments can be a challenge. This can make it difficult for young professionals, such as dentists, to ever get over this hurdle.

Cost of Owning and Running a Dental Practice

For dentists, owning and running a dental practice can be a lucrative career choice. However, it also comes with significant expenses. Dentists must pay for equipment, rent, utilities, and staff salaries, among other expenses.

According to the ADA Health Policy Institute, the average dental practice owner in the United States has a net income of around $180,000 per year. However, this income can vary greatly depending on the size and location of the practice, as well as other factors.

To achieve financial independence, dentists must not only manage these expenses but also save for retirement and other financial goals.

Cost of Having Children

Another factor that can impact a person's ability to achieve financial independence is the cost of having children. According to the USDA, the average cost of raising a child in the United States is over $230,000 from birth to age 18. This includes expenses such as food, clothing, housing, and education.

Having children can also impact a person's ability to save for retirement, as the need arises to prioritize saving for their children's education and other expenses.

Is Financial Independence Attainable in the United States?

Given these factors, is financial independence attainable in the United States? I have listened to numerous podcasts and interviews of people who have and are on the path of achieving this goal =, even with the factors above. So, in short he answer is yes, but it may require careful planning, budgeting, and sacrifice. For dentists, this may mean choosing to work for a few years at a higher-paying job before starting their own practice or taking on a significant amount of debt to start their own practice.

It may also mean making difficult choices when it comes to having children, such as delaying starting a family until they are more financially stable.

Ultimately, achieving financial independence in the United States is possible, but it may require more effort and sacrifice than it would in other countries with different social and economic structures. It is important for individuals to consider all the factors and make informed decisions about their careers, finances, and family planning in order to achieve their financial goals.

The F.I.R.E Movement & How This Relates

In recent years, the Financial Independence Retire Early (FIRE) movement has gained popularity among individuals looking to achieve financial independence at an earlier age. The goal of the FIRE movement is to save and invest aggressively, often up to 50% or more of their income, to reach financial independence as early as possible.

While traditional retirement may be a goal for some, the FIRE movement focuses on achieving financial independence rather than reaching a specific retirement age. This means that individuals can retire early and enjoy the freedom to pursue their passions and interests without the need to work for a paycheck.

However, reaching financial independence at an early age can be challenging, especially when dealing with factors such as student loan debt, the cost of owning and running a dental practice, and the cost of having children.

To achieve FIRE, individuals need to be disciplined about their spending and prioritize saving and investing. This may mean living a frugal lifestyle, choosing a career with high earning potential, or taking on side hustles to increase income.

For dentists, this may mean working for a few years at a higher-paying job before starting their own practice or finding ways to reduce expenses, such as sharing office space or equipment with other dentists.

When it comes to having children, the FIRE movement encourages individuals to consider the financial impact of having children and make informed decisions about family planning. This may mean delaying starting a family until they are more financially stable or finding ways to reduce the cost of raising children.

The FIRE movement is a viable option for individuals looking to achieve financial independence at an early age. While it may require more effort and sacrifice than traditional retirement planning, it is possible to reach financial independence with careful planning, budgeting, and disciplined saving and investing. Dentists can take advantage of high earning potential in their profession and find ways to manage expenses to achieve their financial goals and retire early.

Food For Thought 💭

Attaining financial independence may seem like a daunting task, but it is important to remember that it is achievable with hard work and dedication. I know that sounds cliché but many people have achieved financial independence at a young age and have been able to retire early and live their dream life.

One inspiring example is Mr. Money Mustache, a blogger who retired at the age of 30 by following the principles of the FIRE movement. He now spends his time pursuing his passions and living a fulfilling life with his family.

While everyone's journey to financial independence will be different, the key is to focus on the long-term goals and make small steps towards achieving them. By being disciplined about spending, saving, and investing, individuals can build wealth over time and achieve financial independence.

So, if you are looking to achieve financial independence, don't be discouraged by the obstacles that may come your way. Instead, stay motivated, stay focused, and keep working towards your goals. With determination and hard work, you can achieve financial independence and live the life of your dreams.

“Create a life you don’t need a vacation from”

— anon

How I Made Over $12K In March 2023 With My Blog

At the top of the year I wrote an article in which I outlined my blogging income and mentioned that one of my goals for 2023 was to seriously monetize and increase the income from my blog. If you’ve been with me for a while you know what happens when your girl has a goal.

With all the financial uncertainty in the air, we all could use some extra cash whether it’s to cushion against a rainy day (as they are sure to come), to invest, to safe guard against a potential layoff or for whatever reason. For me, blogging is one of my great loves. It has long surpassed being a hobby and something I genuinely enjoy and spend a lot of time on, and thus I want to see how far I can take it. Perhaps one day it may even replace the income of my 9-5. I have seen it happen with other people so I know it is possible.

In this article I am going to outline the few ways I make money on my blog and how you can too.

For the month of March 2023, I made $12,164.73 from all the ventures I will list below. In February that income was $3012.56 and in January it was $1766.52. Year to date the total extra income made is $16, 943.81. All the income reported here is through my blog and social media (Instagram). Here is the breakdown:

If you're interested in learning more about how I made money through my blog and Instagram, I encourage you to sign up for my paid community. You'll get access to exclusive content and resources that will help you grow your online presence and monetize your platform. Plus, you'll be part of a supportive community of like-minded individuals who are also on the same journey as you.

Making money through your blog and social media is possible, but it takes time and effort. If you're willing to put in the work and stay true to yourself and your values, the possibilities are endless.

Thank you for reading, and I hope to see you in my paid community soon!

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9 Ways To Make Extra Income Online

More and more, people are finding different ways to either increase or supplement their income especially with current financial uncertainties. With a lot of people securing jobs that are either remote or location independent, there is now a level of flexibility that has made it easier to leverage your wifi connection to make some extra money. Whether you're looking to supplement your income or start a new career, there are a variety of ways to make money online. Here are some of the most popular methods:

1. Freelancing: Freelancing involves providing services such as writing, designing, coding, or social media management to clients online. Platforms like Upwork, Fiverr, and Freelancer.com connect freelancers with clients and offer a wide range of job opportunities. I recently hired a VA on Upwork to help me with a few admin tasks and pay her weekly. In the past I have used said platform as well as Fiverr to hire for several small jobs.

2. Affiliate marketing: Affiliate marketing involves promoting products or services through an affiliate link and earning a commission on any resulting sales. Amazon Associates, ShareASale, and Commission Junction are popular affiliate marketing platforms. You can then promote these on your social media or website.

3. Sell products online: You can sell products online through platforms such as Amazon, eBay, Etsy or your own website. You can either sell products you create yourself, or source products from wholesalers and sell them for a profit.

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4. Online tutoring: If you have expertise in a particular subject, you can offer online tutoring services through platforms such as Tutor.com, Chegg, or Wyzant.

5. Virtual bookkeeping: If you have experience in bookkeeping or accounting, you can offer virtual bookkeeping services through platforms like Bookminders, Belay Solutions, or AccountingDepartment.com.

6. Online content creation: If you are creative or have a talent for creating content such as videos, blogs, or podcasts, you can monetize your content through platforms like YouTube, Patreon, Instagram, TikTok or Substack.

7. Online coaching: If you have expertise in a particular area, such as fitness, nutrition, or business, you can offer online coaching services through platforms like Coach.me, Teachable or Udemy.

8. Online market trading: Online market trading involves buying and selling stocks, currencies, or commodities through online trading platforms like eToro, Robinhood, or TD Ameritrade.

9. Online surveys: There are many companies that pay individuals to take online surveys. While the pay is typically low, it's an easy way to make some extra cash in your spare time. Some popular survey sites include Swagbucks, Survey Junkie, and Vindale Research.

Making extra money online is easier than ever thanks to the plethora of opportunities available. Whether you're looking to earn a little extra cash or start a new career, there's a way to make money online that's right for you.

Want specifics on how to make money with any of the above, join my community below.

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Exploring the Future of Digital Money: Trends, Technologies, and the Role of Financial Development

This is a guest post by Katie Pierce

Digital money is revolutionizing the way we use and think about our finances. As a result, the use of this innovative currency is growing at an unprecedented rate. A recent report by the World Bank estimated that there are currently around 1.7 billion unbanked adults worldwide. Digital money could change this by providing them with access to financial services, reducing the costs of financial transactions, increasing efficiency, and enhancing security.

And today is a pivotal point in history as we witness how its future is shaping up. In this blog post, we’ll unpack the factors that are making a critical impact on the trajectory of digital money.

Trends

While there are countless possibilities for how technology might define the future of digital money, some clear trends are beginning to emerge. 

1. Real-time payments

One key direction in the development of digital money is the shift toward “real-time” payments. This means that transactions can be completed almost instantaneously. As a result, people no longer have to wait days or weeks for a bank transfer to go through. 

Such real-time payments offer consumers convenience. In the past, they had to plan ahead when making purchases or transferring funds—but not anymore! Today, they can conduct their transactions in a micro-fraction of the time that they used to spend on previous financial arrangements. 

2. Open banking

Yet another important development is open banking. This refers to a system where banks allow customers to share their financial data with third parties, such as app developers or payment service providers. 

Open banking can make managing finances easier by enabling users to access all their accounts from one place. This results in the quicker completion of transactions. Thus, both individuals and businesses alike can enjoy incredible convenience, with the new technology facilitating faster and more secure payments for goods and services. 

3. The rise of cryptocurrency

Cryptocurrencies like Bitcoin have gained popularity in recent years and are now widely used for online transactions. However, cryptocurrencies face regulatory challenges, and their use is still relatively limited.

4. Mobile money transfers 

Another significant trend in digital money is the increasing use of mobile wallets and mobile banking transactions. Mobile payment systems, like Apple Pay and Google Wallet, are increasingly becoming mainstream. Alongside this are the development of technological innovations that enable heightened convenience and security in their use. Mobile payments are thus expected to continue to grow, with the global mobile payment market projected to reach $494.5 billion by 2030.

Technologies

Several technologies are driving the growth of digital money, such as:

1. Blockchain technology

Blockchain technology, which underlies cryptocurrencies, is one of the technological waves that aren’t likely to break anytime soon. Blockchain is a distributed ledger system where transactions can be recorded securely and transparently. It can disrupt the financial industry by delivering benefits like improved efficiency, more cost-effective dealings, and bolstered security. 

In fact, this cutting-edge technology has been hailed as a way to reduce risks associated with digital payments. However, as digital money becomes more popular, developing more advanced safeguards against fraud and other potential risks will be essential. 

2. Artificial Intelligence (AI)

AI or artificial intelligence is also a major catalyst (if not the primary one!) in the shift towards digital money. It refers to the ability of machines to perform tasks that typically require human mental processes, such as image perception, speech recognition, decision-making, and language translation. With computer algorithms, this technology can learn and improve from experience and perform tasks that could only be previously performed by humans.

Today, AI is being used to automate financial transactions. These include fraud detection, risk assessment, and customer service improvement. AI systems are also being used to develop personalized financial products and services, such as robo-advisors, that provide low-cost investment advice to consumers.

The impact of financial development 

The role of financial development in shaping the future of digital money can’t be ignored as it makes the following possible:

1. Financial inclusion

One way financial development can support the growth of digital money is by promoting economic inclusion. This refers to the provision of affordable and accessible commercial and banking services to underserved populations. Through digital money, customers can now easily send and receive money regardless of where they live and their financial status. And this can go a long way in enhancing their social mobility and giving them access to more opportunities. 

2. Regulation

Governments around the world are investing in policies designed to facilitate innovation in the payments sector while still protecting consumer interests. One fine example is their initiatives that support safe and secure offshore banking jurisdictions that enable individuals and companies to enjoy lower taxes outside their own country base. Also, regulatory changes, such as open banking, have already had a major impact on how businesses operate. 

Yet there is still a ton of work to be done before we reach a truly seamless and secure global payments system. Regulatory devices must be flexible enough to accommodate new technologies and equally robust to prevent financial instability and protect consumers.

The bottom line

While the future of digital money has many exciting possibilities, it also presents some serious considerations regarding financial stability and consumer protection. Through advances in technology and supportive government policies, we can ensure that the global payment system is secure and accessible for all. So, let’s do the work and wait with bated breath as digital money continues to evolve and, hopefully, become a greatly beneficial instrument for future generations. 

For more tech-savvy insights, news, and information, visit the blog of The UnOrthoDoc today!

Meet Katie Pierce

Katie Pierce is a teacher-slash-writer who loves telling stories to an audience, whether it’s bored adults in front of a computer screen or a bunch of hyperactive 4-year-olds. Writing keeps her sane (most of the time) and allows her to enjoy some quiet time in the evening before she walks into a room of screaming kids (all of whom she loves dearly) the next morning

Financial Foundation: Get Good With Money

In my book club so far this year we’ve read two books on money and they were very different. The first one, Die With Zero tells us to spend our money, throw caution to the wind and live! while the second book, The Psychology of Money tells us a different story - that one should prepare for life’s lemons, save, invest then save some more as life will inevitably through us curveballs. Both books offered great insight and are the inspiration behind this blog post.

While both books are different in their messaging, there still lies fundamental basics that both authors agree on: You must get good with money.

In my opinion, we cannot begin to even get good with money if we don’t have the basics down. This might be a refresher to some and a reminder to others. After this post, grab your daily budgeting sheets (or grab them here), pull up your online banking platform and get to work.

Here are 5 things to get started on the right path:

1. Have a PLAN

Create a roadmap for your finances. What are your financial goals and what will you do to achieve them? Perhaps you would like to earn more money this year? Realistically, how much would that be? How would you go about achieving this? Break your goals down into bite-sized action steps and work diligently to reach them. Put a timeline on each goal to keep yourself accountable. Make a plan for all the things that will require money. Consider hiring a financial planner/advisor that can give you personalized recommendations and keep you on a timeline. 

2. Create and Commit to a Budget

I know I know, we don’t really like budgeting, It’s boring but it must be done. This will take some discipline. Consider adopting and applying the the 50-30-20 rule. Essentially this means, 50 percent of your money each month should go to essentials like bills and housing, 20 percent should go towards your financial goals like savings, saving for retirement and paying off debt/student loans, and 30 percent should go towards wants like vacation, entertainment, etc. Personally I dedicate 30% to financial goals and 20% for miscellaneous things like vacation and entertainment. Of course your budget sometimes need a little wiggle room and things do change so adjust along the way but for the most part try to stick to this plan. Automate it so that you don't have to think about it.

3. Start/Fund Your Retirement Account

It is really important that you get on this early! It is vital that you prioritize creating and contributing to a retirement fund and take advantage of compounding interest. Compounding interest will do a lot of the hard work for you if you start early. Here are the contribution limits or 2023. Try to maximize your contributions and take advantage of any match system your job has to offer. Speak with your accountant about the tax benefits of each type of account.

4. Keep an Emergency Fund

Make sure you have at least three (3) to nine (9) months of funds saved up for a rainy day.  If 2020 taught us anything, it’s that we need to be prepared for anything and that life will inevitably through us curveballs. Your emergency fund is where part of the 20 percent savings portion of your budget should go, and it's there in case you lose your job, become ill, or encounter an unexpected expense. Keep this money in a separate savings account at a separate bank from your checking account and forego a debit card for that account. Also, automate your contributions.  Ask your employer to direct debit a portion of your salary into your emergency fund account. You can also consider placing the funds into an account with high yield interest. Personally I use Ally and have been for years, but there are quite a bit of online banks with high yield interest accounts like Synchrony Bank, Marcus by Goldman Sachs, UFB etc.

5. Tackle your debt.

All debt are not created equal. It is unreasonable to tell anyone to get rid of all debt, especially if you live in the US where the financial system runs on you having debt. However, there are some debt that’s considered “bad debt” like credit card debt because it grows pretty quickly and doesn't help you in the long term. Interest rates are usually high and can take a very long to pay off. Unless of course, you stay on top of it and pay the full balance each month. On the contrary, some may argue that student loans are a form of “good debt” because it's an investment into your future earning potential. Put as much money as you can towards credit card bills first starting with the ones with the highest interest. Once that's paid off, prioritize the next highest interest debt, and so forth. Also consider automating the contribution to your debt payment so that you never have to worry about a missed or late payment.

These are the very basics. As with anything, there must be a solid foundation. Once this foundation is built, you can now go on to build on your money making/diversifying prowess. Get these planner sheets to keep you organized to stay on top of your money goals and if you love books join my book club.

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7 Things I Learned From Creating a 7-Figure Business

When I first started out in business, I had no idea what I was getting myself into. After years of hard work and dedication, I am proud to say that in 2022 I have achieved 7-figure success. It was quite possibly one of the most challenging yet rewarding goals I have accomplished yet. I spent the last week in 2022 completely spent and exhausted with much time to reflect. From this journey, I have learned a great deal about what it takes to be a successful entrepreneur and millionaire. In this blog post, I will share seven key things that I have learned from creating a 7-figure business. I will provide tips on mindset, personal, professional, and financial development that have helped me reach my goals. . Here are 7 lessons I learned on the way to 7-figures:

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Side Hustle: 5 Ways to Increase Your Skillset with Skillshare

Personal development is an important topic to me and one of the ways I work on myself is making sure that I hone my existing skills and gain new ones. I love learning! Here’s the thing about diversifying your skills - you become an asset. You become an asset to your place of employment and also to yourself. When you know how to do many things your skills become transferrable which could mean an increase in salary. It could also mean a new way for you to make extra money on the side.

If you’re in that boat where you are looking to increase your skillset and make some extra money on the side then I am going to recommend to you Skillshare. Skillshare is a great platform for both learning new skills and teaching them to others. With a membership, you can access thousands of courses, tutorials, and workshops to enhance your existing knowledge, while also having the opportunity to become an instructor and start earning money. In this blog post, we’ll discuss five different ways to increase your skillset with Skillshare, so you can start a successful side hustle.

1. Join Skillshare

   With a Skillshare membership, you join a growing community of millions of passionate learners and start acquiring skills you need to reach your goals. All you need to do to get started is create an account on the platform. It is subscription-based and offers classes from the world’s best instructors in topics ranging from design, marketing, photography, blogging and business. Each class includes short video lessons, projects and resources to help you build your skills and potentially unlock a new source of passive income.

   With my link you can get a Skillshare membership this month for 30% off it’s original price.

2. Take Classes

   Once you have signed up and become a member, you want to start taking classes. Find topics that you are interested in and just have fun with it. They have over 27,000 classes in their library, you can explore different topics and find what interests you. If you have a skill you already know, you can take courses to deepen your knowledge or even teach that skill yourself.

   You don’t even have to sign up for classes right away. Browse the library and save classes that look interesting to watch later. That way, you can get an idea of the types of classes available and decide which ones will be the most beneficial to your career.

   Taking classes on Skillshare should be fun. Don’t feel pressured to sign up for a course that doesn’t interest you just because it’s popular. It’s important to take the time to explore and find something that speaks to your passions. You will get the most out of the experience if you choose something that excites you. I am a skillshare member and it has helped me over the years to learn about various things related to blogging and social media. What I have learned on skillshare has been invaluable.

3. Teach a Class

   As you gain proficiency in new skills, you can take the next step to become an instructor on Skillshare and start teaching others. Teaching classes on Skillshare provides a great opportunity to earn passive income, while also giving you the chance to learn even more new skills. Plus, you’ll get the satisfaction of helping others acquire knowledge and become more proficient in areas they’re interested in.

   Setting up an account to become an instructor is easy and straightforward. You simply sign up as a teacher, and then create classes by uploading pre-recorded video lectures. You’ll also need to provide students with helpful resources and give them timely feedback.

   Once you’ve published your classes, Skillshare takes care of the promotion for you and shares your class with the millions of potential students on its platform. You can even choose to make your class free or premium so that you can earn money for your hard work.

4. Promote Your Classes

   Even though Skillshare will promote your classes for you, you may want to share your classes with people on different platforms for a wider reach. To share your classes directly on skillshare, just share your class link with fellow teachers and students in the comment section of a course or via direct messages. I encourage you to also share your classes directly on social media like Twitter, Facebook, Instagram and other platforms that may be relevant to your target audience.

   When creating content to promote your classes, make sure to highlight the topics covered in the course and emphasize the practical application of what students will learn. You can also create short videos and tutorials to show off your teaching style. Lastly, if you’re a part of any online communities or forums, you can share your classes there as well.

   Promoting your classes is one of the best ways to make more money from Skillshare. When you reach more people, you’ll have more potential students and more chances to earn money. With this strategy, you’ll be able to start making passive income in no time while also giving others the opportunity to learn new skills.

5. Earn Money

   By teaching your own classes on Skillshare, you can earn a passive income from your creative endeavors. After your classes have been published, Skillshare pays you for each student enrolled in them. The best part is that you don’t have to be constantly monitoring your classes since you get paid even after the course has finished. So why not give Skillshare a try and start earning money from your creative side hustle?

   If you would like to give Skillshare a try, sign up for a membership and use this link to get 30% off the original price.

Step by Step Guide on How To Set Up an LLC

So you’ve decided to take that next big step and start a business or side hustle. You have your idea, business plan and everything else in place but now need to make your business legitimate. Many small business owners decide to set up an LLC for the liability protection it provides. An LLC, or limited liability company, exists separately from its owners , and the owners are, therefore not personally responsible for business debts.

To form an LLC, you'll need to file paperwork with the state where your business is located. Every state has its own rules and procedures, but there are several steps you'll need to follow to get your LLC up and running, no matter where you live.

Step 1: Choose a name for your LLC

Get creative and choose a business name that will stand out and be memorable. Keep in mind however that most states do not allow two different business entities to have the same name. So do your research and make sure your business name is not already taken. You can't, for example, have "Lilly’s Pup Treats, LLC" and "Lilly’s Pup Treats, Inc.," even if they're located in different cities.

Do a google search and check with the US patent and trademark office to see if your proposed LLC name is available. Choosing a unique name can help avoid confusion and trademark infringement claims. Also consider whether a domain name is available that matches your business name, you will want everything to be as cohesive as possible.

If the name you've selected is available, but you aren't ready to file your LLC documents right away, you may want to consider reserving the name. Nearly every state allows you to reserve a name by filing a form and paying a name reservation fee. The length of the reservation period, filing fees, and renewal policies vary from state to state.

Step 2: Choose a registered agent

Almost every state requires LLCs to name a registered agent. A registered agent is a person who agrees to receive official documents (lawsuits, subpoenas, etc) on behalf of the LLC and to pass them along to the appropriate person at the LLC. You, the officer can be the registered agent or you can assign someone like your accountant that role if he/she set your business up for you. Some companies, like legal zoom provide registered agent services for a fee.

Step 3: File organizational paperwork with your state

You will need to file articles of organization that list things such as:

• The name and address of the LLC

• The length of its existence, if not perpetual

• The name and address of the registered agent

• The purpose for which the LLC was formed

The paperwork usually must be signed by the person forming the LLC, and in some states, the registered agent must also sign. The filing fee varies from state to state

Step 4: Prepare an LLC operating agreement

The operating agreement typically isn't filed with the state and and is usually not required by state laws. However, it is an essential way for business owners to define their rights and responsibilities and minimize future disagreements. An LLC operating agreement is a roadmap that describes how your LLC will run. Common provisions in this agreement include the statement of intent, its business purpose, the time period during which it will operate, how it will be taxed, new LLC member admissions, and member capital contributions.

Step 5: Determine licenses needed

After the LLC's formation documents are filed and approved, the state will issue a certificate or other document confirming that your LLC now exists. Once you've received the certificate, you can determine whether or not you will need specific permits or licenses—like a zoning permit or liquor license, that your business may need.

Step 6: Get an EIN

The next step is to get your Employer Identification Number (EIN). Your EIN kind of like a Social Security Number for your business. Not only is it unique to your business, but it's crucial for particular business necessities like banking, taxes, and even hiring employees.

Step 7: Register to do business in other states (optional)

If your LLC does business in more than one state, you may need to register to do business in other states. To do this, you'll need to fill out and submit paperwork that's similar to the paperwork you filed when you formed your LLC. You'll also need a registered agent in each state where you are authorized to do business.

An LLC is a popular and flexible business option that works well for many small business owners.  LLCs are typically pretty easy to set up and maintain.

If you’re looking to set up an LLC and would like a trusted and reputable firm to take this off your hands, become a member of my exclusive community - The Climb and get access to all my resources

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How I Make Close to $25,000 from Blogging

Blogging has been a long time hobby of mine. I have been blogging since around 2008 and each of my blogs have always served as sort of a diary of my experiences, lessons learned and things picked up along the way. One great thing that has always come from it, is the help that it offers to people who read it - whether it is inspiration, a lesson from an experience of mine, a how-to guide, an industry contact or something more tangible. My inbox is filled with people thanking me for helping them in some way or another - this to me is quite fulfilling.

I do believe that if I were to give up working as an Orthodontist, one thing that would replace it is blogging. Many people do not know this or wouldn’t believe, but I am a true introvert. I am forced to have extroverted tendencies/personality because of the nature of my career and the way I have used my platforms (i.e social media), but my preferred method of communicating will always be in written form. Seriously, text me instead of calling.

What I hadn’t set out to do was actually make money from my blog. If this is something you have been wondering about I have written a few articles on how to start a blog and how to monetize the blog. I have also written articles on different kinds of side hustles - I have many ideas when it comes to this - and what I do know how to do is turn a hobby into a business. I have done this with my candle company, have helped numerous people get their side business off the ground and have written an e-book as a guide on how someone like you can do it too. I have written several articles on making money from a blog but I never went full throttle down that path myself. I simply welcomed a few opportunities that landed in my inbox with the added bonus of making an income from my monthly operations on this site.

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In 2022 I made roughly $25,000 from my blog. I consider the income from my blog as passive income. The income came from affiliate links throughout my articles and resources page, my digital products and a few sponsored posts.

One of my goals for 2023 is to increase my blog income by actively pursuing opportunities to make money with it. If I am being honest, I want to see what might happen if I actually try, and thinking long-term I want to see if I can turn this blog into a viable business. This way, I will not only gain another source of income but also (potentially) recession-proof my income. As an Orthodontist, my income is not recession-proof. If, God forbid, we should have another pandemic or the economy takes a nose dive, my current income would also be on that trajectory.

Here are my blog income sources for 2022:

• Affiliate Links - $9045.42

• Digital Products - $4800.50

• Sponsored Posts - $10,150.00

  $ 23,995.92

I am not including income from my candle company because it involves putting in extra time. I hand-pour and package each candle that is purchased and it does carry some overhead costs. However, running a candle business is another lucrative side hustle!

I will be sharing specific resources, articles and how-to guides in the member area, which is the paid portion of this site. You will get a chance to know everything I know. If you want to level up both personally and professionally, If you’re considering starting a side hustle/business I invite you subscribe to The Climb - my paid members only area. Here’s what you get:

• Unlimited free access to all e-books, planners and other digital products

• Member only blog posts with exclusive resources not available to the public

• Access to member exclusive discounts from trusted brands

• Guidance with starting a side hustle or passive income stream

• As a gift, one free UnOrthoDoc Candle per year (for yearly members)

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23 Goals for 2023

“Happy are those who dream dreams and are ready to pay the price to make them come true.” — Leon Joseph Cardinal Suenens

I really enjoy goal setting. It is one of my key methods of self improvement yearly.

Time and time again, research shows that you are more likely to achieve your goals when you write them down. In that same breath, it is important that when you’re thinking about setting goals, you set yourself up for success. That means having a method of planning that allows you to track your progress in the right way, stay motivated, and encourages you to be both consistent and disciplined. For as long as I can remember, I’ve kept a planner where all tasks, meetings, outings and goals (big, small, daily, weekly, monthly, etc) live. I highly recommend downloading the 2023 goal planner from my shop. I personally use this and update it every year. You can download it for free by signing up for my newsletter.

This year I’m writing my goals down as it corresponds with the year! I heard this pretty cool idea on the GenTwenty podcast and thought I’d give it a whirl so here goes…these are my 23 goals for 2023:

1. Read at least 23 books in 2023

2. Commit to working out 2-3 times per week

3. Run a 10K

4. Maintain a 7-figure practice/business

5. Re-commit to date night with my husband once per week

6. Schedule a CEO day once per month

7. Go to church at least one Sunday per month

8. Complete the Wharton Masters Business of Orthodontics-AAO Program

9. Be more active on the Board of the DC Dental Society

10. Drink more water (4-6 cups/day)

11. Increase my blogging & candle company Income

12. Do one family/kid friendly activity per week(end)

13. Spend 1000 hours outdoors

14. Try a new restaurant every month

15. Find ways to give back to my community

16. Do continuing education (CEs) once per month

17. One spa day per month (self care)

18. Book at least four trips and two “real” vacations

19. Gain a new skill

20. Get more sleep

21. Pay off debt

22. Learn one new recipe every month

23. Shop with more small businesses

Now that I’ve written this on the blog, you get to be my accountability partner. I will do one check-in mid year to update my progress and another at the end of the year. What are your 2023 goals?

Retirement Planning for Young Professionals in 2023

2023 RETIREMENT CONTRIBUTION LIMITS

If you’ve been a reader here for a while you know that financial development is one of my favorite topics, especially when it comes to retirement planning. It is never too early (or late) to start saving towards your retirement! The past several years have made saving and investing a bit challenging but if I had any advice for a place to park what little money you may have left over for investing, it would be in a retirement account.

It is no secret at all that we are heading into a recession, if we are not already in the middle of one. The US government is trying to tighten up to decrease spending across all boards to combat our current inflation crisis. This could mean higher prices for goods and services which will trigger less spending but we could also see a smaller amount left over on our paychecks. It is imperative now more than ever to dump whatever money you may have into a safe place like a retirement fund. Now is not the time for gambling and high risk, in my opinion.

When speaking of saving for retirement, it is very important to have some knowledge of compounding interest to fully understand the benefits of starting early. This post will cover some retirement basics, contribution limits and what to do with extra money should you find yourself so lucky.

I must remind you that retirement planning is a long term investment. In most cases you will not be able to access these funds until around age 59 1/2 without severe ramifications (taxes + penalties). So, if you are investing and need to access your funds sooner than this, you may have to think of other types of investments. Take a look at other investment vehicles here, here and here.

There are many different accounts and plans available and choosing the right one is very important as they each have different benefits and advantages, especially when it comes to tax planning. Here are a few to help you get started:

Simple IRA (Savings Incentive Match Plan for Employees)

For the year 2023, participants can make employee contributions of up to a maximum of $15,500 per year if you are under 50 years old and $19,000 if you are older than 50. This is a retirement plan that is usually available to self-employed individuals, however both employee and employer contribute to this account. Contributions are non tax deductible.

Traditional IRA

Anyone can open a traditional IRA account - but honestly, if you are a dentist or physician (like most of my colleagues are), then there really is no use for this type of account. During residency you have the option to open a Roth IRA (more on that below) because your lower salary allows you to stay within the income restrictions. Later as you start your career and your salary increases you will most likely surpass the income caps and will have the ability to deduct your traditional IRA contributions. However, it’s worth understanding as it forms the framework for all other types of retirement accounts. A Traditional IRA is set up by you (not an employer) and the maximum contribution to this type of account is $6,500 if you’re under 50 years old and $7,500 if you’re older. The contributions are tax deductible and grows tax-free.  If you withdraw the money prior to age 59 1/2, there will be ramifications of a 10% tax (penalty) as well as any income tax which would be owed on the money.  After age 59 1/2, you just have to pay the income tax based on your tax bracket at that time.  At age 70, you will be required to start withdrawing part of the money each year, the “Required Minimum Distribution (RMD).”  This is age based and starts out at about 3.6% and increases to about 8.8% at age 90.  

Roth IRA

I absolutely love a Roth IRA. However, there is a contribution income limit. If you make more than $153K (single) or $228K (married), you cannot contribute to a Roth IRA. However, there are ways to get around that with Roth IRA conversions, which we will discuss in a subsequent post. Anyone with earned income can open a Roth IRA and contribute up to $6500 per year. If you’re over 50, those limits are raised to $7500 per year.

The reason I love a Roth IRA is because you contribute with after-tax money, but it is never taxed again!  You don’t pay taxes on capital gains and dividends as the money grows, and it comes out tax-free in retirement.  You generally can’t access the money before age 59 1/2, but unlike a 401K or Traditional IRA there are no required minimum distributions beginning at age 70.

401K

If you are an employee of a company and your employer offers a 401K retirement plan, there’s absolutely no reason why you should not be participating. It is even more important that you participate if said company is offering a match. A match is basically free money! Do not leave free money laying on the table. The contribution maximum for the year 2023 is $22,500 and the great thing about a 401K is that you are investing pre-tax dollars. The not-so great thing is that when you go to retrieve your money (after age 59 1/2), you will be taxed on this (unlike with a Roth IRA).

If you're an Independent Contractor (not a W2 employee), you’re considered to be “running your own business.” In this case, you can also make an employer contribution of 20% of your net income up to $55,000.

SEP IRA (Simplified Employee Pension)

If you have your own practice, a SEP IRA may be a good option. This allows you to contribute 25% of your business profit or $66,000 per year, whichever is less. The contributions are tax deductible, and investments grow tax deferred until retirement.

IF YOU FIND YOURSELF WITH SOME EXTRA CASH, HERE’S WHAT YOU CAN DO WITH IT:

Fund a Traditional Brokerage Account

Traditional brokerage accounts don't offer any sort of tax benefit for the money you put in, unlike IRAs and 401Ks. However, they offer flexibility in that you can withdraw funds at any time and for any reason. If you decide to retire early, like my husband did, you can use the money in your brokerage account to pay your living expenses. There are no income limits associated with funding a brokerage account.

Fund a Health Savings Account

HSAs are funded with pre-tax dollars, like traditional IRAs and 401(k)s. Withdrawals can be taken at any time, and they're tax-free as long as they're used to pay for qualified medical expenses. Any money not used immediately can be invested, just like in an IRA or 401(k). If withdrawals are taken for non-medical purposes, they will be subject to a 20% penalty.

However, once the contributor reaches the age of 65 funds can be accessed for any reason without being penalized. At that point, your HSA can serve as a general retirement savings account.

This is not a comprehensive list of retirement vehicles but certainly a great place to start. Everyone, as early as possible, should start contributing to one of the above. Speak with your financial planner or accountant for more clarification about which plan is best for you. If you need more info on this visit, the IRS website. Hope this helps in getting started.

Books I Read in 2022

I am an avid reader! I love a good book. Losing yourself in a book to me is the ultimate relaxation, not only that but there are a host of benefits to reading:

• Increases knowledge

• Exercises your brain

• Improves your focus

• Improves your memory

• Entertainment

• Improves your ability to empathize

• Improves your communication skills

• Reduces stress

• Improves your mental health

• Live longer, etc

This year I managed to read 26 books, 12 of which I read together with my book club. I must admit that my time is very different now being a mom and business/practice owner, and while I would have preferred to read all 26 physical books, quite a bit of them were the audio version (thanks audible!) Nevertheless I got it done, still reaped the benefits and developed a newfound love for audiobooks. They are the truth! You can still carry on with your day, do several things and still “read,” it’s amazing. Here’s a round-up of the 26 books I read in 2022 and if one of your goals for 2023 is to read more books, join my book club.

I hope to see you in the book club!

Everything You Need To Know About Web3

This is a guest post by Bash Sarmiento

Because I have spoken about cryptocurrencies and NFTs before, I thought it a good idea to impart some knowledge on the future of the internet, i.e Web3.

Web3 is the next era of the internet, where users are in control of their data and applications. Many businesses and tech experts have been predicting its rise for years, and it is finally starting to become a reality! If you want to learn more about Web3, check out our guide to everything you need to know.

What is Web3?  

To begin learning about this new technology, you must first answer the question: What is Web3? 

Simply put, it is a decentralized platform that runs on blockchain technology that provides a secure and transparent way for users to interact with each other. In particular, Web3 allows users to interact with decentralized applications (DApps) and smart contracts on the Ethereum blockchain. 

A DApp runs on the Ethereum blockchain. It is like a traditional web application but is powered by smart contracts - self-executing contracts that run on the blockchain. They can ease transactions between users securely and transparently. For instance, a smart contract could be used to manage a rental agreement between two parties.

Now that you know the basics of Web3, take a closer look at some of its key features.

Key Features of Web3 

One of the most important features of Web3 is that it is decentralized. This means that it is not controlled by any central authority, such as a government or a corporation. Instead, it is powered by the Ethereum blockchain, which is a global network of computers that anyone can join. 

Another key feature of Web3 is that it is secure. All data and transactions on the Ethereum blockchain are encrypted and stored in a public ledger. This makes it almost impossible for anyone to tamper with the data or make fraudulent transactions. 

Lastly, Web3 is transparent. Because all data and transactions are stored on the blockchain, anyone can view them. This makes it easy to track down any potential problems or fraud. 

What is the difference between Web2 and Web3? 

Now that you know what Web3 is, you might be wondering how it differs from its predecessor, Web2. The main difference is that while Web2 is centralized, meaning that there is a single point of control, Web3 is decentralized. There is no single entity that can control or manipulate the network. 

Another key difference is that while Web2 runs on central servers, Web3 runs on a decentralized platform. Finally, while Web2 apps are mostly closed-source, meaning that only the developers can see and change the code, Web3 apps are open-source. This means that anyone can view and contribute to the code, making it more transparent. 

How is Web3 used?

Albeit a relatively new technology, Web3 already has many applications. And with its vast potential, there will likely be even more applications for this technology in the future. 

• Web3 Wallets - A Web3 wallet is a crypto wallet that allows you to store and manage your Ether and other Ethereum-based tokens. It also allows you to interact with DApps on the Ethereum blockchain. 

• Decentralized Exchanges - On decentralized exchanges, users can trade cryptocurrency without the need for a central authority.

• Identity Management - Web3 can be used to build decentralized applications that manage user identity securely and transparently.

• Supply Chain Management - DApps can also track the movement of goods and materials through the supply chain.

• Voting - Applications that allow users to vote on decisions made by a group or organization can also apply Web3 technology to facilitate the process and secure each vote.

• Insurance Contracts - Decentralized insurance contracts can be developed by using Web3. With this type of contract, users can insure themselves against risks such as theft, fraud, or natural disasters. 

• Web3 Bounties - Web3 bounties are a way to incentivize users to complete tasks. Bounties are often used by developers to find bugs in their code or to improve the usability of their applications. These can be used to post and manage bounties for tasks such as bug fixes, security audits, or product development.

What are the risks of using Web3?

As with any new technology, there are some risks associated with using Web3. These include the risk of technical vulnerabilities and the risk of fraud or theft. However, these risks can be mitigated by taking proper security precautions and by using trusted platforms and services.

The Future of Web3

The goal of Web3 is to create a more democratic, open, and secure internet for everyone, and the future of Web3 is bright. It has the potential to revolutionize the way that people interact with the internet and can be used to build a new generation of decentralized applications. 

Additionally, because it is based on the Ethereum blockchain, it is highly scalable and can be used to power large-scale applications. Although it is still in its early stages, there are already several projects and businesses applying Web3 to various areas such as social media, finance, and gaming.

Meet Bash Sarmiento

Bash Sarmiento is a writer and an educator from Manila. He writes laconic pieces in the education, lifestyle and health realms. His academic background and extensive experience in teaching, textbook evaluation, business management and traveling are translated in his works.

Find him on Instagram and LinkedIn

6 Trends That Will Affect The Future Of Advertising

This is a guest post bu Bash Sarmiento

The advertising sector constantly evolves along with time passing, especially with the emergence of new technologies and innovative trends. These inventions transformed how marketers operate, from creating content to fulfilling their responsibilities. For instance, the internet and social media have become the most effective platform for businesses to advertise their products and interact with customers today. Regardless, this is just the beginning of the bright and promising future of advertising. With the current and emerging trends, how companies see and utilize advertising will change in the coming years. 

In this article, we'll discuss these trends that will affect the future of advertising. Make sure to keep reading; you might be one step ahead of your competitors after adapting them to your marketing strategy today.

Trends That Will Affect The Future of Advertising

Enhanced Customer Targeting with Big Data Analytics

Most marketers are aware of the tremendous potential of big data analysis. Data alone has always been essential in coming up with strategic marketing decisions. But with big data, more information is being collected and utilized for your operations. 

One of the most impressive uses of big data in advertising is customer targeting. It is the process of connecting to your target audience through having insights about them. Using the data-driven approach, you will get to know your audience and think of ways to optimize your campaigns based on their wants and needs. 

However, you must be aware that since big data can get extraordinary volume and variety of unstructured data, it can be overwhelming. Therefore, you have to learn how to leverage the most crucial information easily to be able to make your customer targeting effective.And if you want to advertise your products well, make sure to measure the results. Take into account what is working, what isn't, and how you can improve.

Personalized Consumer Experience

Every consumer has a unique set of tastes and preferences. Therefore, it only makes sense to consider these particular inclinations in your digital marketing strategies. With big data, you can gain insights into their preferences and behavioral patterns. From there, you can personalize your content for them and improve their experience.When you target your ads to a specific audience, use ad copy, images, and even video clips that appeal directly to the interests of those consumers. All of these will result in a better experience for them.

Integrated Online-Offline Advertising 

During the pandemic, physical stores with little online presence have struggled, and most of them unfortunately closed. On the other hand, many digital brands have thrived during those times up until today. People have been purchasing a lot online because of the convenience of not getting out of the house. But that doesn't mean that physical stores have already gone out of style. Of course, many consumers still prefer physical stores. Therefore, you'd instead adjust your marketing strategy to meet the current trends in this age of digitalization.

Along with your usual advertising strategies in person, like hosting events, you can use the internet and social media to promote the business. Leverage all digital marketing channels as much as possible, especially mobile-friendly ones. These could help you gain more customers. 

Moreover, you can utilize VR and AR technologies to enhance your customer's shopping experience. Right now, Ikea already has an AR app that allows users to see furniture items, while other fashion brands have launched apps that enables shoppers to try on clothing virtually. Many brands are hopping through this trend—and soon, it will revolutionize the future of advertising.

Story-Driven Visual Content 

When it comes to digital marketing, content visualization is always the best. The rise of smart speakers and voice search today has precedent "readable content." In fact, according to research, visual content is preferred by people over plain text.

But nowadays, visualization alone will not be enough anymore. You should also be aware of the essential elements of brand storytelling. Modern consumers prefer relatable video content. In other words, they are looking for content that goes beyond product advertising. So, create a cohesive campaign that tells a realistic narrative. Add images, infographics, and videos to your texts to capture the hearts of your consumers.

Social Media Optimization (SMO)

If people aren't on their phones to text, they're most likely scrolling through their social media platforms. In light of this, it is best to leverage those platforms to grow your online presence, promote your products, and connect with your customers. 

Know that SMO works just like Search Engine Marketing (SEM), which includes search engine optimization (SEO) and paid media. They have the same goal to increase visibility and generate traffic. The only difference is SEM works on search engines like Google and Bing, while SMO is, of course, focused on social media platforms like Facebook, TikTok, Instagram, YouTube, etc.

The plan is to direct the public to your website, where more information is acquired. Therefore, similarly to SEM, you must create unique and engaging content to make this possible and do paid marketing for enhanced visibility.

Brand Transparency

With many businesses emerging today, consumers are becoming more discerning about the brands they support. That said, being transparent about how you operate will help you set your company apart. You can create advertisements and video content about your operations and how the brand supports different causes when you hop into this trend.

Final Thoughts

The advertising sector is ever-changing and complicated. The only way to succeed is to stay relevant and adapt to all these changes. With our article that covers the trends that will influence advertising in the future, you'll be able to transition swiftly and may succeed in the industry in the coming years.

Meet Bash Sarmiento

Bash Sarmiento is a writer and an educator from Manila. He writes laconic pieces in the education, lifestyle and health realms. His academic background and extensive experience in teaching, textbook evaluation, business management and traveling are translated in his works.

Find him on Instagram and LinkedIn

How To Smash Your Goals in 2023

The last several years taught us a lot about uncertainty, to the point where now we probably have gotten used to plans changing on a whim or at least a bit more comfortable with variability. Nevertheless, the beginning of a new year is a hopeful time. It is often a time where we daydream and envision our ideal future and motivate ourselves to turn our vision of this future into reality by reaching and smashing our goals.

My method of goal setting remains the same, but I wanted to add a few specifics this time around:

1.START WITH A YEAR REVIEW 

I know this might seem like a lot of work, but it’s worth your time. Don’t stress, just be honest with yourself. If you had a planner last year, just look back through the months and assess everything without judgment. The easiest way to do this review is by answering these 5 questions: 

1. Identify 3 to 5 things that made you proud from 2022

2. If you set goals for 2022, how far did you get?

3. Identify what worked well, what didn’t work and why

4. Are there things you would like to improve, start or stop doing?

5. What are some of the lessons you learned last year that you want to keep moving forward?

2. PRIORITIZE YOUR GOALS

Now that you’ve done your year review, identify the top priority areas that you want to work on whether it is career, finances, health, relationships, etc. It could be all of the above, but pinpoint specific things in each category to work on. Remember, this is not about anyone else but YOU. This is personal.

3. WRITE YOUR GOALS DOWN

A sure way to make things happen is to write it down. It sounds strange, but there is enormous power in putting things down on paper, and according to research you become 42% more likely to achieve your goals and dreams when it’s written. I always keep a physical (paper) planner even though I use the planner on my smartphone as well.

4. BUILD A SYSTEM AROUND ACHIEVING YOUR GOALS

This is where we sometimes lose focus. We may know what goal(s) we want to accomplish but before putting action steps into place they are intentions. Right now the steps in how to accomplish your goals might be blurry, let’s turn them into action:

5. MAKE YOUR GOALS S.M.A.R.T.E.R

So how exactly do you set intentions that you will actually stick to? Be SMART about it. But this year, I want us to be SMARTER.

Before you set a goal, first figure out your “why.” By figuring out and articulating the reason you want to achieve something you are more likely to remain motivated to stick to it.

S - Small and Specific: What do you want to do? Break your goals into smaller, more specific ones. For example, if your goal is to eat healthier in 2022, be more specific by making it about adding 1 fresh fruit or vegetable and a bottle of water per day for the month of January.

M - Measurable : How will you track your progress? All your goals must be measurable, that means you should be able to describe the physical manifestation of the outcome of your goal. Example, losing 2lbs per week by adding one fruit or vegetable and a bottle of water to our diet each day.

A - Attainable: How will you do it? Is your goal attainable? Can you realistically achieve your goal? Another great way to stay on track is to find an accountability partner. Example, someone who will check in to make sure you had your fruit/vegetable each day or someone who will ensure you meal prep.

R - Relevant: Is this relevant to your life right now? Is this goal relevant to you or even realistic? Ensure you’re not setting a goal that you really don’t care about and hence not realistic. Example, I dislike running. If I make it a goal of mine to incorporate running 1 mile/day I know I will fail. Instead, I ensure I get my cardio in by getting on the elliptical, peloton or taking a Zumba class.

T - Timely: When do you want to do it? Make a tentative plan for everything you do. Don’t just make it a goal to exercise once per day. You know your schedule, you know if you’re a morning or late night person. Instead of saying you will work out once per day, say you will work out at 5:30am on Mondays, Wednesdays and Fridays for 1 hour before work.

E - Evaluate: How is it going? If you’re not tracking your progress how will you know what’s the cause of you not getting those killer abs? At the end of the month, go back through your planner and see if you stuck to the plan to reach your goal. 1. Did you meal prep every week for the past month? 2. Did you in fact incorporate 1 fruit/vegetable and a bottle of water to your diet each day for the month? Did you work out 3 times per week for the month? It’s okay if you missed a day or two (you’re a work in progress).

R - Readjust: How can you make it better? If you missed the mark in some areas last month =, you can make adjustments to improve next month. 3 days per week at 5:30am didn’t work for you? Maybe try Monday morning at 6am before work, Wednesday evening at 6pm after work and Saturday afternoon. Readjust until you hit your sweet spot.

6. TRACK YOUR PROGRESS, REFLECT AND RE-CALIBRATE

Resist the urge to freestyle your goals and actually check your progress as you go along. At the end each month, take time out to analyze what you have achieved, what you failed to achieve and how to improve on this (last 2 steps above). Journaling as you go along and circling back at the end of each month can really help you to stay on track.

7. ADJUST TO LIFE’S LEMONS

Life gets in the way and can derail you. Things such as illness, family commitments, work, life emergencies etc can impact your goals. Take note of these things and adjust as you proceed. 

8. ASK FOR HELP

Lastly, get an accountability partner. Have a friend or loved one you can lean on  for moral support and encouragement, you will need it from time to time. If you need specific help, reach out to those who can offer any guidance or assistance. The internet and social media is a great way to make connections.

Bonus: Be your own D**n Cheerleader and eliminate self doubt. Figure out what keeps you motivated and inspired. I love quotes! I keep them everywhere - my phone’s wallpaper, sticky notes around the house, on my desk at work, on the bathroom mirror, etc. I listen to music, books and podcasts that are uplifting. I tolerate no negativity and try to stay away from it at all costs.

Remember, a goal without a plan is just a wish. By breaking down your goals into bite-sized, manageable actions and writing them down, setting goals and intentions for the new year that you can actually stick to becomes a much easier process.

Grab a planner, a journal and let’s get ready to smash our 2023 goals! Remember, a sure way to make things happen is to write it down.

A Guide To Setting SMART Goals

Sometimes we set goals and then fall short, that’s okay. Everyone fails from time to time – it’s part of life’s journey. But if you find yourself consistently not reaching or giving up on your goals, it’s time to find a new way to set your intentions.

The value of setting goals in life cannot be overstated. We need to feel like we’re working toward a goal to ultimately feel fulfilled and joyful in life. But are all goals created equal? Not necessarily. The outcomes you want ultimately point to the quality of the objectives you’re setting for yourself – and if you’re not using SMART goals, you could be holding yourself back

MAKE YOUR GOALS S.M.A.R.T

So how exactly do you set intentions that you will actually stick to? Be SMART about it.

Before you set a goal, first figure out your “why.” By figuring out and articulating the reason you want to achieve something you are more likely to remain motivated to stick to it, rather than it being something you think you should do.

S - Small and Specific: Break your goals into smaller, more specific ones. For example, if your goal is to eat healthier in 2023, be more specific by making it about adding 1 fresh fruit or vegetable and a bottle of water per day for the month of January. Do you want to make more money this year? Saying you “want to earn more” is too vague. Instead, pick a number for how much money you want to earn. Is it $150,000 per year, $500,000 or even $1 million? Set a clear number to track your progress against. Having a specific goal is helpful in two ways: you can better visualize your outcome – imagine all those zeroes in your bank account – and you will know without a doubt when you’ve achieved it.

M - Measurable : All your goals must be measurable, that means you should be able to describe the physical manifestation of the outcome of your goal. Example, losing 2lbs per week by adding one fruit or vegetable and a bottle of water to our diet each day. Or, in the case of making $150,000 per year you can check the numbers as the year goes on to see if you’re reaching the goal.

A - Attainable and Accountability: Is your goal attainable? Can you realistically achieve your goal? Another great way to stay on track is to find an accountability partner. Example, someone who will check in to make sure you had your fruit/vegetable each day or someone who will ensure you meal prep. If it’s to make $150,000 do you have the potential to even earn that income (switching jobs, salary increase, unique skills, side hustles, etc). When you create a goal that’s too lofty, it can seem impossible. You may be overwhelmed and eventually give up.

R - Relevant and Realistic: Is this goal relevant to you or even realistic? Ensure you’re not setting a goal that you really don’t care about and hence not realistic. Example, I dislike running. If i make it a goal of mine to incorporate running 1 mile/day I know I will fail. Instead, I ensure I get my cardio in by getting on the elliptical, bike or taking a Zumba class. Realistic goals are those that you are willing and able to work toward that can be achieved by improving your current habits.

T - Timely: Make a tentative plan for everything you do. Don’t just make it a goal to exercise once per day. You know your schedule, you know if you’re a morning or late night person. Instead of saying you will work out once per day, say you will work out at 5:30 each morning for 1 hour before work/school. Do you think you can start earning your desired salary in six months, one year or two years? Having a clear time frame is essential for checking your progress along the way to reaching your goal.

Because of their effectiveness, SMART goals are commonly used in business, but you can also use them in your personal life, from creating fulfilling relationships to mastering a new skill. No matter which area of your life you want to improve, this tested strategy saves you the wasted time of not knowing precisely what you want or how to get it. SMART goals can help you “ladder up” to the bigger goals you set when you identify your purpose. Being purposeful and living with intention is what SMART goals are all about.

HOW TO ACHIEVE SMART GOALS

Now that we’ve answered the question “what is a SMART goal?” let’s look at a few tips for achieving them.

START SMALL

Instead of tackling your most urgent or loftiest goal pick something small to start with.

WRITE IT DOWN

According to a study conducted at the Dominican University in California, those who write down their goals are 42% more likely to achieve them. It doesn’t matter whether you write your SMART goals in a journal, enter them into an app or type them into a Word document. Just make sure they are documented.

CHECK-IN REGULARLY

How long will it take you to reach your SMART goals? How do you know if you’re falling off track? Regular check-ins allow you to evaluate your progress and course-correct when necessary.

DON’T LET FEAR HOLD YOU BACK

If you’re not making the progress you’d like, take a look at what’s holding you back. Are you hesitant because your goal or approach is unreasonable, or are you reticent because of a deep-seated fear of failure? Finding the source of your hesitation is critical, since overcoming our fears is pivotal to goal mastery as well as personal and professional development.

CELEBRATE EVERY WIN

When you celebrate wins – even the small ones – your brain gets a boost of dopamine that reenergizes and refocuses you. If you’re working on professional SMART goals, celebrate small wins with your team. Not only will this help you to continue to press forward but it will also inspire your team to do the same. Personal successes? Celebrate with your friends or family. After you’ve celebrated, get right back on track so you can work toward celebrating the next win.