Wednesday, January 18, 2012

Let's talk money

I live in a house divided in regards to finances... but I'm working on fixing that. Compromising is part of marriage (the part I don't like) and that INCLUDES sticky subjects such as finances.

My husband owns his own business. He has always HAD money. His life has revolved around the ladder that one climbs to reach a certain level of satisfaction. Whether that ladder move is social, financial, or what have you--he has climbed it. His ideas of finances have always been so different from mine.

i have never HAD a lot of money. i have done okay with what i have (no complaints here), but hard financial times are something that i have always been accustomed to. And I'm okay with that... it's made me smart.

Add those two together and it can be interesting...

He knows ALL about businesses, and i don't. But i try. I do my research that's for sure. :)

When he first opened the business he could only take checks and cash. Well, with big purchases such as furniture that was NOT going to work. We quickly got on board to get him a credit card processing services and all the equipment necessary to make SURE we could take plastic!

Another handy item was the POS systems. That's practically a MUST have in any business. While I personally am not a fan of charging items (I'd rather see someone pay cash for an item), not everyone feels that way. Plus i got to thinking about how I NEVER have cash, but i use my debit card. So i would be totally bummed if a business couldn't swipe my card.

No matter what kind of business you own, you may consider investing in an ATM machine for your store. This drives traffic in itself. Think about it... you are driving down the road and need cash and you pull into the first store you see that has the neon letters that read "ATM". And chances are when you walk in you end up buying something--even if it's something little like a coke or candy bar. You hadn't planned on spending that money but the ATM sign drew you in and you spent it. This is a GREAT way to draw traffic into your store...

I've learned some new things about finances over the past year. Learning about the business and the BEST ways to please customers coupled with my eagerness to learn as much as i can about finances and the BEST decisions.

do your research. That's always the place to start when you begin talking about money :)

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