Is it Wise to Charge My Home Business Expenses to My Personal Credit Card?

When you read testimonials of a few successful Internet entrepreneurs, it may be common to read that in their past they are "maxed out their credit cards". At this point, I can hear you thinking out loud, "but they made it anyway … and so can I". I wish that would be the case for every Tom, Dick, Harry and Sally, but the improper use of credit can be devastating to some not only for their personal businesses but it negatively pressures significant family relations as well.

So let's ask, "Is it wise to charge my home business expenses to my credit card?"

The answer to that question is, "It depends." You see, the use of the credit card can work either to the benefit or detriment of the one using it. The intelligent questions to ask are:

1. Do I have sufficient cash on hand to purchase this right now?
2. In my current capacity, can I afford to buy this right now? "
3. Why am I charging my credit card for this item?

Firstly, if you are personally "liquid" enough to purchase this item, and if you have set it as necessary for your business, then yes, it is wise to use your credit card if you will have the deduction to take the cash out of your reach, keep it someplace safe, (like in a savings account or piggy bank) until such time to settle your card statement comes.

Secondly, to say "you can afford to buy or purchase" an item means that you are not sacrificing any other basic needs of your family such as the grocery or utility bill budget. It means you really have a "surplus" tucked away someplace. It can also implying that if you are deferring a payment, you are absolutely certain of a cash inflow that will sustain this expenditure such as scheduled bonus or lumpsum to be received for sure. Otherwise, re-evaluate your position. If you can pay the FULL BALANCE in one payment, then yes – you can definitely afford it.

For those who choose to defer payments, credit card companies may impose a finance charge of as much as 3.5% a month for the revolving balance and that accumulates to about 42% a year! Compare that to the yield paid to you if you had a deposit, say 3% per annual, then you are spending so much in finance charges and your business has not even taken off yet. Perhaps interest rates, are of a different level in your country, find out and compare. It pays to know!

Thirdly, there are other reasons to use credit cards. Convenience is usually the key reason, but it has its own responsibilities that go with it. Cashless transactions has its perks – no bulky bills to tug around or no risks that thieves will snatch them from you. But then, the same security mechanism we devote to our cash holdings should also be exercised for our credit cards. Because they too, may be swiped and stolen from us. So, we have to be vigilant.

And I almost forgot, most credit cards offer a reward system or points such as freebies, or cash-backs. That can also be a good reason to charge items to your card. The bottomline is, determine if you can afford to pay it – if you can, go ahead and charge it!


Are You Ready to Turbo Charge Your Atkins Diet?

Lose up to 16 pounds a week by combing the highly effective Atkins diet and the super healthy Mediterranean diet. This plan is so incredibly powerful that you can lose five, ten and even up to 16 pounds in a single week!

On average, dieters using the Mediterranean-Atkins diet plan lost more than 30 pounds in 12 weeks. My first seven weeks following this plan I lost 27 pounds and my room mate lost 22. There was also a dramatic improvement in my blood sugar, cholesterol and blood pressure. My doctor was extremely pleased with my readings.

The plan is like a Mediterranean mini-feast. Think fish with lemon and herbs, fresh green drizzled with olive oil, and even a lovely glass of red wine! Seriously here, I am not joking.

The major difference between the old approach and the new one is that every other day your main protein will be fish. However the other days you can still have unrestricted and unlimited protein rather it is from eggs, chicken, beef and etc.

You will also refrain from pre-packaged low-carb foods and instead you will focus on getting 30 grams of carbs a day from nutrient-packed vegetables. Olive oil will be your main source of fat. And you can also have the option of savoring up to two small glasses of wine a day.

Simply put the Atkins and Mediterranean diets better together than they do on their own. By following the subsequent turbo secrets you too can have very similar results.

The best protein for weight loss is fish. Of course any diet that cuts down significantly on carbs and boosts protein will flip switches in the body that slash hunger while increasing metabolism and speed up the fat burning. But of all the protein choices, fish has the most fat-fighting power. Studies show that nutrients in fish not only make our anti-hunger hormones work better, they also help spark fat so flab burns faster.

The best fat for weight loss is olive oil. Olive oil is not only good for your heart, studies show it also dampens the appetite, curbs cravings and helps speed up the metabolism. Simply put if you replace unhealthy fats with olive oil you are going to see the biggest difference in your scale.

By getting your carbohydrates from vegetables instead of pre-packaged low-carb foods you can get special fat-blasting antioxidants. For starters, by eliminating fake sweeteners that actually stimulates the appetite you will be loading up on fat fighting super nutrients especially if you decide to drink red wine while participating in the Mediterranean-Atkins diet plan. Red wine contains a super antioxidant called resveratrol which is one of the most studied nutrients in the world today. In addition to a ton of other incredibly healthy benefits it also helps lower blood sugar and appears to help with low calorie diets as well. In other words, drinking red wine can actually cause weight loss.

So if you are a huge fan of low-carb diets like I am but you also like to enjoy a glass of wine here and there then this diet is for you. Of course that is in addition to the incredible weight loss you can experience as well.