investing with my bonus
Written on Saturday, 6 of December, 2008 at 4:54 am
Yesterday I have received my Christmas bonus. I’m planning to start a small business or just get a franchise. The nightly news about economic slowdown has made me think twice on spending my cash bonus. I consulted friends of mine who were professionals in marketing management and asked them about tips on starting a small business. I also asked what type of businesses are still feasible knowing that we are in economic crisis.
The best investment for my money - settle all my debts first. This is the best way to begin investing they said. If I have no more interest-earning debts, all the profit in my business can be used to expand it. I haven’t thought of this but it really makes sense, not that I have much debt. They also suggested that I get an in-depth training about the franchise first before I get into it. They also added that I must be completely educated on the terms and conditions of the franchise of my interest. Having a business of your own can really be stressful if you are not fully aware on how to run it. I thought of hiring someone who can manage the business but they said that will only add to expenses. And so I decided that I’ll just save the plan for later until I have paid all my credit card bills and have studied about the details of my planned business.
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