Tips for Entrepreneurs

According to recent reports, as many as 49% of small business owners use personal credit cards for business use. This statistic is alarming for several reasons:

1. First, by using personal credit cards for business purposes, the owner is mixing their personal and business finances and could be compromising the liability protection provided by the corporate structure of their business. 
2. Second, every business owner relying on their personal credit cards is putting their personal credit at risk for the sake of their business. This is a bad idea, because if the business starts to have problems their personal credit rating could suffer substantially. Many people have had to file personal bankruptcy because of debts that actually belonged to their business's. 
3. Third, business owners who use personal credit to finance their business are foregoing the opportunity to use credit cards to build business credit. Instead of giving their business a safety net of credit and further protecting their personal finances and credit, they are jeopardizing the business's financial well being, their own credit, and their own financial well-being. 

As you can see, I'm not exactly a fan of using personal credit cards for business. It's just a bad idea. You are much better off separating your business expenses out onto business cards, reporting to business credit bureaus, that are not in any way tied to your own personal credit.

Even your business is new and you can't get approved for a line of credit, start by using a business debit card. Honestly, depending on the business it may be more beneficial as this helps to prevent overspending as well.

Remember you can reach me on social media at the links below. Don't forget to use the hashtag #RealtyMeDallas

Until Next Time...✌😉

http://www.realtymesold.com/

    

Works Cited: Corporate Business Strategies eblast

Girl, Where Have You Been?

So my last post to this blog was in February and some of you may be wondering "Girl, where have you been?". I may not have the largest following but I'm grateful for those that are loyal to following this blog.

To be transparent, December of last year I was in a car accident. I really don't talk much about it because I try to show my best self everyday. Let me tell you it was stressful but here is the "short" version of story. I didn't use an attorney because after researching online, with my level of injuries it was better to pursue the case on my own. I really have to give a lot of credit to google and it's amazing search engine. I was able to provide a diagram of the accident with thorough explanations, police reports from the scene, photos, and videos.  It was determined that the other party was at fault (After a 3 week battle) and the insurance company said the video footage submitted was the most weighed factor in their decision. I have to say through this experience I really am encouraged to purchasing a dash camera. Dash-cam footage has been the only real way to substantiate claims these days. And I'm not saying people are dishonest but the other party definitely didn't have the truth in them. It's no wonder why dash-cameras are required in some parts of the world.

I had to do therapy for about five or six months. The insurance company only gave me 4 days to replace my vehicle. Can you imagine on top of everything you have to do trying to replace your car in only 4 days? It was a nightmare trying to balance work, life, recovery, and trying to close this chapter in my life.

In June, I finally settled with the insurance company for a five figure amount that I was satisfied with. Again, google helped me a lot in that area as well. I used an online calculator to determine a fair amount to start negotiations based on medical expenses, lost earnings, future lost income, estimated future expenses, multiplier for damages, and finally pain & suffering. To add to the stress I later found out that the hospital put a lien against me for the balanced owed. Gratefully, God kept me in good spirits.

The experience that I went through was crazy (to say the least) and I definitely wouldn't wish that on anybody. I thank God for his covering on me, his comfort during my break downs, and his grace as I pressed through.

I'm blessed to be alive today and that is just further proof that God is not done with me yet. I've got way more to do.

Remember you can reach me on social media at the links below. Don't forget to use the hashtag #RealtyMeDallas #RealtyMeSold

Until Next Time...✌😉

http://www.realtymesold.com/