Archive for the ‘Investment’ category

Visualizing Can Make All of Your Dreams Come True!

December 11th, 2008

The first paragraph is adapted from The Success Principles, by Jack Canfield…

Fred Couples and Jim Nantz were two kids who loved golf and had very large dreams. Fred’s goal was to someday win the Master’s Tournament, and Jim’s was to someday work for CBS Sports as an announcer. Fred and Jim were suitemates at the University of Houston in the late 1970’s, and they would playact the scene where the winner of the Masters was escorted into Butler Cabin to receive his green jacket, and be interviewed by the CBS announcer. Fourteen years later, the scene they had rehearsed many times in Taub Hall at the University of Houston played out in reality as the whole world looked on. Fred Couples won the Masters, and was taken by tournament officials into Butler Cabin, where he was interviewed by… CBS sports announcer Jim Nantz, of course. After the cameras stopped rolling, the two embraced each other with tears in their eyes. They always knew it would happen that way, because they had already done it all those years earlier. » Read more: Visualizing Can Make All of Your Dreams Come True!

Bad Credit Rating? No Problem – You Can Still Buy A Car Or House

November 26th, 2008

It’s well known that if you default on mortgage or other loan repayments that it will adversely affect your credit rating, but did you know that you could also have a diabolical credit rating by doing absolutely nothing wrong?

That’s right! Regardless of how affluent they are, anyone who has never applied for credit will automatically score poorly on a credit risk basis the first time they submit any credit application. That’s because there is no credit history recorded against that person. So, even a multi-millionaire who has never applied for a loan will have an ‘officially’ poor credit rating. » Read more: Bad Credit Rating? No Problem – You Can Still Buy A Car Or House

Debt Financing – Why Using Your Personal Credit Card is Dangerous For Your Business

November 18th, 2008

Many of us (include yours truly) have used personal credit cards to finance the start up or growth of our business. It’s easy, fast, and available. The interest rates may be lower than business credit cards. And, you may have exhausted your business loans or lines of credit. But there are a few dangers in using your personal credit cards to finance your business, instead of using business credit cards or loans.

* You can’t deduct the interest. If you mix personal & business expenses on your credit card, you can’t deduct the interest because some of the debt is due to personal expenses. If you are carrying a fair amount of debt, this could add up to hundreds of dollars each month.
* You will miss deductions. If you are randomly using personal credit cards for business expenses, you will inevitably forget to enter all those receipts into your bookkeeping system. Which means that you will miss a tax deductions that you deserve to take. » Read more: Debt Financing – Why Using Your Personal Credit Card is Dangerous For Your Business

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