Search
  • Admin

Money Management

Where to start?

As well all know money is part of our everyday lives. How we use it effects our lives in different ways. We cannot expect money to do good things for us if we are putting it in the wrong places or just not managing it correctly. Where we spend it and how spend it will reflect on the things around us good or bad.

So, whether you want to start a business or you already have one. It is important to keep your credit score at 600 (minimum) or above. Yes, you can get loans if your score is lower, but it is harder to get some kinds of loans unless you have high revenue per month or you have collateral to use against the loan. It is always better and easier to get a loan off of your credit score. Regardless you should always do your best to keep your credit score up for personal reasons. You never know what might be around the corner.

Why am I saying all this? Because you need credit to have a business, but it also has to do with your money management. You have to put money away. Majority of big corporations get loans so they can use them as a tax write off and save their money as an absolute last resort. If your house is not in order then get it in order. How you run your home reflects on your business and vice versa. No one goes in business to lose it. That is why you need to make good sound decisions with your cash. To get a loan with a good interest rates you need to keep your score up. If you want better things in life you hang out with like minded people who are already doing what you want to do. Remember you are who you hang out with! If you want a business then you hang out with other business owners. Good luck to all of you in your adventure!


4 views

© 2023 by BizBud. Proudly created with Wix.com

Call Now: 801-528-9220