August, 2006:

HSBC Business Checking

I opened a business checking account with HSBC to keep my buiness accounts seperate from my personal ones. I signed up in a branch for a promotion for free business checking. The sign up process took about an hour, but it was fairly easy. I just had to bring in some documents for my company and fill out a few forms. I have to say, my experience with HSBC has been excellent. Their service is superb. (Let me leave that to another post)

I received my check book about two weeks later. I also signed up for online business banking. They sent me a security device that generates a different numeric code based on real time sequence and I need that to log in along with my password. The reason for the added security is because you can do more with the business account, such was wiring money out.

Grand Idea

I just thought of a great idea. I was thinking of setting up a networking event for all the financial bloggers. This will give everyone a chance to meet and discuss ideas. It is possible some may get together for business or a big project.

I have not thought of the details yet. Since I live in NYC, I’d like to host the event in NYC, but it will be expensive to host an event. To make it more realistic, we can do something like this. First, we’ll run a pilot version. I or we (feel free to help out) will host a small event in NYC at some budget place for the first time and if it works, we’ll make it bigger the second time. I haven’t figure out how the cost part works. I imagine we’ll all chip in for the event.

Or, we can find sponsors like investors and companies and turn this into a huge marketing/networking event/opportunity. Companies may be looking for knowledgable people, but at the same time, we financial bloggers get a chance to discuss ideas.

Thought: If I have a mansion, I can host the event there and invite all the financial bloggers.

Feel free to give your suggestions.

Advanta Business Credit Card

I have applied for an Advanta Business Credit Card for my business. This way , I can keep my business expenses seperate from my personal ones. This card offers one of the best cash back rewards. It pays 5% Cash Back on gasoline, office supplies, utilities, computer equipment, cell phones and Internet services, and 1% on all other purchases.

The card categorizes all my expenses for me and I can download all the transactions to MS Money or to a spreadsheet for tax purposes.

Quote of the Day

Every young man should have a hobby; learning how to handle money is the best one. – Jack Hurley

Indeed, my hobby is to grow money.