Use credit wisely

Use credit but use it wisely Your credit cards can be a very useful tool in business, on the basis that you clear the balance every month I use an Amex card with fifty five days of credit

Now when I run my facebook ads, if I started running at the beginning of a month, I won't be billed till the end of the month If I then pay for that using my Amex card, I'll get 55 days of credit which means I'm essentially getting 85 days of credit, which allows me to then reap the rewards of my Facebook Ads, get new business in and then pay the credit card bill almost two and a half months later The caveat is you should always clear your balance to avoid the interest But cards that have 55 or 60 day interest-free period, if you use this wisely, you can really extend your cash flow in your business but also collect points, air miles and trade that in for hotels or flights down the road so again this is something you need to be very disciplined about You must clear your balance every month

But it's a great way of leveraging somebody else's cash to help you in the short term in your business