Saturday, January 26, 2008

Business owners are banking on banks for money!

One thing on my blog, I have talked about so many ways to receive passive and active income. So, far i have Had mention about stocks, real estate, Yuwie and other miscellaneous things.The problem is after you get all this money you had made ,what do you want to do with the it. I highly recommend putting your money in a commodity such as gold since the dollar is loosing money but is a tactic the every business owner needs (It might be commonsense but some aspects might be over look),that is opening an bank account. Even though I have made it seem putting your money in a bank account might be losing you money (since the depreciation of the dollar) it still one of the best places to have your money in. I just believe all your money should not be in a bank but working for you.

The reason why the bank is a good investment for business owners who are seeking wealth ,is the bank helps create a good credit standing. I don't know about you but when you are looking to open up a business or anything of that faction the bank (who is generally the loaner) looks how long you had a bank account and how much is in it. Even though I preach about having other investment types,I feel the the bank offers the ultimate leverage for business owners. Like who else in the world will allow you to borrow 40k. I don't have friends like that but the bank will gladly give out the money if I have an account with them.

So this concept even applies online . You can take out a personal loan( since banks only like giving tangible business a business loan) to start a website or any web like internet service. This can cover hosting , website development, and marketing. The bank out there I think is the best to open a free checking account is Washington mutual. Washington mutual offers as much as some people would from market funds a whopping 4.76% in their free checking account. So sign up for Washington mutual since free things cannot hurt anyone. So to summarize make sure you keep some money in a bank account because a loan gives you ultimate leverage since it takes money to make money.
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