A credit line is a crucial part of starting a company. In fact, a majority of companies will only survive if they have credit because of the limitations of the starting capital. But in order to get a line of credit you will have to apply for one with financial institutions. Here, in one of o5.com's recipes for life, we talk about how to start a credit line for your new … [Read more...] about How to Start a Credit Line for Your New Company
financial smarts
How to Create an Effective Profit and Loss Statement
Profit and loss statements are an important business document because it categorically shows if a business is on a downturn -- allowing you to take immediate steps before the losses become painfully huge. It can also help you assess a business opportunity and monitor expenses and possible percentage of revenue. Here is a basic guide on how to create an effective profit and … [Read more...] about How to Create an Effective Profit and Loss Statement
How to Deal with Bank Errors
Because banks handle other people's money, you can expect that these financial institutions practice an extremely high level of accuracy. But even with an institution that is a stickler for doing things the right and proper way, errors still occur because, really, there's no perfect system in the world. Bank errors will happen and it is an unfortunate luck of the draw if … [Read more...] about How to Deal with Bank Errors
7 Tips for Tracking Your Expenses
Have you ever looked at your empty ATM account and thought, 'Where did the money go?' It's frustrating to work so hard, and then realize that your salary didn't go to something you really wanted, but was frittered away on small, unnoticed expenses. These tips will help you keep track of your money, so you spend on what really matters to you, and avoid unnecessary debt. … [Read more...] about 7 Tips for Tracking Your Expenses
8 Questions to Ask Before Getting Married
You love him, he loves you—but before you tie the knot, you need to know a lot more than that. Marriage is a very important decision, and it's crucial that couples sit down and have a heart-to-heart discussion. How much do you really know about each other? Are your values aligned? Are your expectations clear? This may contradict the belief that 'all you need is love,' a … [Read more...] about 8 Questions to Ask Before Getting Married