one other note, as it relates to credit cards versus debit cards. debit cards don`t help you in establishing business credit - only credit cards do, so take that into account when you use plastic!
That`s not a problem for me since I never have and never will borrow money for my business. I prefer to do it the `old fassioned` way. You know, like your grandparents would have done it. If I don`t have cash, I don`t buy. Sounds pretty simple, huh?
Did you know that most small businesses will fail in the first 5 years? Did you also know that those who make it those first 5 years will most likely fail in the second 5 years? Do you also know that most of them had a lot of business debt? It`s a lot easier to make it through the lean months if you`re not paying on loans and credit cards.
Who cares about points? Accoriding to recent studies, you`ll spend 12-18% more if you buy with credit than with cash. So you`re spending 18% more just to get 1.5% back in cash or airline miles. That math just doesn`t seem right to me. I have a cheap calculator though, so maybe I`m not doing it right.
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