Credit cards have moved on to become almost a necessity today. It's rare to find people having no credit card. In fact most of the people have more than one credit card. However, possessing a credit card is not enough. You also need to understand how to use it properly. Sometimes credit cards can become a pain e.g. when you get into a debt trap.The first thing to understand is the fact that credit card is not free money or a goldmine that you...more
A lot of people associate credit cards with just personal credit card which an individual posses and uses for shopping etc. However, there is another category of credit cards and that is called small business credit cards. As suggested by the name itself, the small business credit cards are meant for small businesses or people running small businesses.So how does the small business credit card differ from the other credit cards in general?The...more
Imagine hiring an accounts keeping agent for free for your small business. This is what small business credit card does for you indirectly. However, this is not the only benefit. There are a lot of other benefits too. It's for these benefits that the small business credit cards have gained the status of a necessity today. Let's see what these benefits are.1. Auto-segregation of business expensesThis is the most important benefit from using a small business credit card. You just have to ensure that you make all your business payments using your small business credit card and your monthly credit card statement will clearly and accurately reflect all your business expenses. You can use this further for accounting purposes or business planning.2. Rolling creditSmall businesses, as any business, incur expenditures first and earnings later e.g. a business might need to make purchases, pay their staff, incur maintenance costs etc, all towards building a product or providing services to their clients. The client is, of course, going to make payments. However, there is a time lag between these expenditures and earning. A small business credit card allows you to roll-over the credit i.e. you...more
Credit cards seem to have become a fad today. Almost everyone has a personal credit card today (a lot of people have more than one credit cards). Though most of the people use personal credit cards for what they are really meant for, some are unable to decide on when to use which type of credit card.So is there a difference in terms of what credit...more
Credit cards are here to stay for the multiple benefits associated with them. We already know that credit cards act as a convenient payment mode for shopping, they are safer to carry as compared to cash, they help build a credit rating which can be used for getting fast approval on loans etc, and they are there to help when you need credit....more
We know that there are multiple benefits associated with a small business credit card. However, business expense reporting is probably one of the most important benefits.Be it for accounting purpose and tax calculations or be it for planning the future financial requirements etc of your small business, you surely need to know what expenditures you are making on the running of your business. The business expenses includes small things like paying for the brochure printing job, entertainment expenses for clients, business travel expenses or gifts etc. If you were to use your personal credit card for paying for these or just simply cash, then you would end up with a load of bills/expense-statements to sort out at the end of each month. Not only would you be spending a lot of time sorting out what is a personal expense and what a business expense is, but could also end up doing it wrongly. After all it's only human to make errors in things like this. On the other hand, if you were using your small business credit card for the payment of all the business expenses, the need for such a sorting job is eliminated altogether. Your monthly statement for your small business credit card will...more
Credit card or plastic money is omnipresent today. Today they are treated as more of a necessity than just a commodity. Thus it is essential that you not only use them properly but also take proper care of them. The following list is a compilation of...more
It has happened again, and again in a very big way. I am sure you have heard the news that General Motors has announced they are closing plants and letting some 30,000 people go. Some they will be able to relocate, some they won't. Ford announced...more
Imagine you've just returned from an all expenses paid 3 dayseminar all about marketing/Windows Vista/ Sales or somethingelse you're into to.By using the methods and techniques you've learnt you'll improveyour career or business.But there's a secret...more
Looking for a job can be a scary process. We're very focused on saying the right thing, presenting our credentials, convincing the interviewers that we're the right person for the job. But sometimes it's important to take a step back and look at the...more
Romulus and Remus are the eponym of Rome as Alpha and Beta are the eponym of investing. Romulus and Remus are the mythical twins of Rome; Alpha and Beta are the non-fictional twins of asset management. Story tellers tell us that Romulus and Remus...more
The total lending in the UK has seen an upward trend. The figures released for September, 2005 shows that the total lending has increased by £9.0bn. Secured loans, that constitute an important part of the total lending, are not very far behind. It...more