If you run a small business, you may easily qualify for a credit card that is designed to meet your needs. However, it is important to ask yourself if you need one. Sometimes, business owners end up applying for a credit card when they do not really need one. Benefits of a business credit card The biggest benefit of a business credit card is that you can separate your business charges from your personal expenses. Hence, you can keep separate books for the same. When accounting for the business, you can tally up the business expenses with ease. Thereby, you can keep track of your personal and business charges. Individuals with multiple business entities can also manage their expenses easily. Certain credit cards come with features that are designed for business use only. They also allow the primary card holders to set and adjust their spending limits for the employee credit cards. Suits every level of credit A business credit card is ideal for every level of credit. It will allow you to earn rewards on your purchases and provide benefits like purchase protection and travel insurance. It will also allow the business owner to separate personal interest from business interest charges.

If you own a credit card, you must be aware of the feature called ‘cash advance.’ The credit card issuer will inform you about cash advances when you apply for the card. A cash advance is an amount of cash that you can borrow against your credit. All credit cards come with a credit limit, and a cash advance will allow you to borrow cash against this limit. You have to pay back the advance with interest. This amount is tied to your credit card and you have to repay it over a period of time. You can also make minimum payments in installments. Features of cash advance Your limit of cash withdrawal depends on the limit of your credit. You need to refer to your account to determine the amount of cash advance you are eligible for. This limit could also be lower than the total limit in case there is a balance on your card. You need to understand that this cash advance feature is not available to customers free of cost. Customers need to pay a fee and this fee includes an interest rate that is higher than the interest rate applicable to all the purchases made by the credit card.

As a recently bereaved person, your emotional state would be in utter turmoil. However, there are certain hard tasks that will need your attention. There are certain financial decisions you will have to take after the loss of a loved one. First of all, you will need to inform the credit bureaus about the death of your close relation. After you report the death, the credit agencies will ensure that no new credit is issued to the accounts of the deceased. The best way to notify the credit agency is by applying for a “deceased-do not issue credit” flag, which is placed on the file of the deceased. Once this flag is placed, the credit agencies will not issue any credit under the name of the deceased. In addition to the request, you will be required to provide the following information. A certified copy of the death certificate with a raised stamp Copies of papers that prove you are the executor Full name and birth date of the deceased Recent address and social security number of the deceased Date of death of the deceased If you are the executor, you can also ask for a copy of the credit report of the deceased in order to get a clear idea of the balance and the accounts.

How often have you been stressed owing to a drop in your bank balance? There is a solution for revising your spending patterns. If you set restrictions on your bank or credit card, you will be able to manage your finances in an appropriate manner. Financial discipline can help you achieve your financial goals and you will be able to remain debt free. One of the most important things to keep in mind is to stick to the limit you set. It may seem easy but it is not. There are challenges you may face when keeping a track of your income. You will have to get your records regularly and thoroughly checked. Keep a record of all your spending habits and make a note of the same. Here are a few tips on how you can set a spending limit on your card. Request for a new limit You can ask the credit card company for a new credit limit. If you ask them to reduce the credit limit, it could lower your credit score. If you come across a financial emergency, you might be in trouble with a low credit limit. You need to keep your current financial condition in mind and set your own limits instead of having the bank set one for you.

Online, or internet banking most definitely had it’s perk. Remote check cashing, e-transfers, the ability to pay with tap, and 24/7 access to funds leave little wonder why over 70% of Americans choose to bank online. However, with that convenience comes threats from malware, online scammers, and hackers trying to get your banking passwords, personal identification passwords (PINs), and steal your hard earned money. Thankfully, the U.S. Federal Reserve says banking can still be done safely online if you safeguard your digital funds with the following security tips: 1. Choose a password carefully Selecting a password that can’t be guessed is the first step to protecting your online safety. Banking experts recommend choosing a password between 6 and 12 characters, that uses a combination of letters and numbers. You can also use case sensitive letters to further protect your passwords and PINs. It’s wise to use a new password for every account and card, and also avoid using names, dates, and locations that are easy to guess (i.e., address or maiden name). 2. Keep your passwords and PINs secret Passwords and PINs should be kept confidential and they should never be shared carelessly with friends, family, or service or retail providers.

While you may be aware that personal credit and business credit are two different things, you may not be aware that your personal credit can affect your business and vice versa. Here are the main differences between a personal and business credit: What is personal credit and business credit? Social Security Number (SSN) is used by the creditors to prepare a personal credit score. Employer Identification Number (EIN) is used by the credit agencies to create a business score. SSN is a unique number assigned for life whereas EIN can be different for each business owned. Personal file created on the basis of SSN stays with the owner and reflects every single detail while there can be multiple credit files depending on the number of business entities. Business credit capacity gives much more ability to generate capital than personal credit which makes it easier to grow business with business credit rather than personal credit. What role does personal credit play in a business venture? A business credit score is built over time wherein business owners have an extensive personal credit history. Lenders use personal credit score to determine the kind and amount of business credit that will be offered and the rate of interest that will be charged only if the business is a sole proprietorship.

All apps are not for gaming and entertainment. Some are actually helpful and can help save your money. Yes, we’re talking about the money saving apps that help you keep your finances on track without having to stress over, “where you spent all your money.” If you always wanted to start saving, but have continuously failed, you surely need the help of the experts to manage your finances. Let’s find out which are the best money management apps: Mint Available for both iOS and Android, this is one of the best money saving apps that keep track of all your financial accounts from savings to retirement. Mint works by making notes of your complete money spending pattern and based on that it creates a budget. On the iPad, it also helps in generating certain graphs to represent your cash flow and overall net worth. If you’re worried about the security, the app can be protected with the secure password to access it from your Smartphone or through the website. It will help in improving your financial health and save a lot of money in the long run. GoodBudget This app was earlier named as Easy Envelope Budget Aid and is considered a perfect app for couples who like sharing their budgeting plans with each other.

Many people enjoy corporate travel, as the change in workplace energizes them. On the other hand, some people hate corporate travel, for it adds stress to their lives. However, if planned carefully and thoughtfully, corporate trips can turn out to be rejuvenating. Here are a few ways you can make your next business trip stress-free: Be ready Keep your business travel bag packed all the time – Be it for leisure or business travel, people tend to forget packing crucial items like a charger, deodorant, etc. To prevent such a mistake, it is advised to keep your business travel bag packed all the time. Pack wisely In their efforts to ensure maximum comfort and convenience while out on a business trip, people tend to over pack. To avoid this mistake, you must pack your bag wisely. You can pack stuff that can serve you on multiple days, like a jacket that goes well with your different shirts and trousers. Use a corporate travel agency Booking business travel can be time-consuming, as there is a plethora of hotels, airfare, and route options to choose from. You can save both your time and money by counting on the top corporate travel agencies.

While teenagers are taught a lot of life skills, one in particular that needs to be emphasized is savings and money management. The earlier they are taught about personal savings, the more emphasis will they give on it. It is the age when an individual evolves from a high school student to a college goer. He/she may also have to deal with student loans or personal debt very soon. Learning money management tips through this can help a great deal. There is a lot one can learn about money management. The best way to do so is by asking more and more questions. A person who knows how to handle their money can go a long way in life. Why do you need to know about money management tips? Money management is a skill that you develop over time. What you can do is start off by following some tips and then take over yourself. Track your expenses Fix your budget for the month Start personal savings early Plan for future expenses Have money saved for emergencies Ensure that you have a steady income flow Invest in the future Make the best of the discounts available out there Spend your money meaningfully Read and learn more about money management These tips can help you get on the path of managing money efficiently.

Many people have all the time and knowledge to handle their finances efficiently. On the other hand, some people fail to keep track of their portfolios due to myriad reasons. A financial planner, also known as a financial advisor, comes to the rescue of such individuals. This article aims to enhance your knowledge about these professionals, what they do, why you should hire them, and so on. Who is a financial planner? A financial planner is a professional who has a knack for helping individuals and corporations maintain their financial objectives. He or she assists people and organizations in increasing their net worth through careful management and investment of money based on their means and financial status. Financial planners, also known as investment advisors, investment consultants, or investment managers specialize in tax planning, risk management, retirement savings, asset allocation, and estate planning. What is the role of a financial planner? Following are several ways in which a financial planner can help you: Organization and management of finances: By examining your financial position and goals, they can recommend ideal strategies for achieving your objectives. Financial windfall: Financial advisors help you get the most of your financial windfall, such as a lottery. Marriage and children: