Deciding On A Budget

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Deciding On A Budget

Have you ever stopped to think about how much money you spend on different things? Although it can be easy to overlook your expenses, a little misguided spending can run your finances into the ground. I used to struggle a lot with financial concerns, until one day when I decided to take my finances a little more seriously. My blog is all about deciding to budget, and how to take those first steps towards a healthier financial future. This blog is designed to help each user by offering helpful, motivating tips. Check out these articles for more information that might help you!

What You Should Look For In A Small Business Checking Account

Do you have a small business and no checking account? Perhaps you have been relying on a personal savings account. It is a good idea to get a checking account that is specifically designated for your business's use. If you keep your personal and business accounts separate, it can simplify things from tax and accounting perspectives. It will also give your business a more professional appearance when it comes to paying bills and buying business supplies and inventory. The following points represent some of the things you should look for in a bank as a small business owner.

24/7 Customer Service

In today's tech-driven world, many small business owners seek a banking solution that can offer customer service around the clock. Some banks have apps and customer service to meet the demands of small businesses. 

Transaction Limits

There are a variety of transactions that small business owners make on a daily and monthly basis. You will want to consider how much those transactions will affect your banking needs. There might be limitations on how many transactions can take place in a billing cycle. Fees might be added for additional transactions. If you plan to have a merchant account, you will also want to know much those transactions will cost. 


Some banks have fees attached to their services. It is wise to consider fees in advance because they can add up. Some common fees are set-up fees, fees for not maintaining a certain balance, maintenance fees, and higher fees when businesses scale up. It is important to keep in mind that not all banks charge the same fees, which is why you should be proactive when comparing banks.

Business Tailored Services

It makes little sense to get a business checking account that has the same features as your personal checking account. You will want to look for a business solution that has services unique to businesses. Perhaps you are currently the only employee for your business. However, there might be future growth that will require you to hire employees. It would be beneficial to choose a bank that has options such as payroll services.

Future Loan Possibilities

Inquire about whether the bank shows consideration for small business loans. Perhaps you do not presently need a loan, but you may want one in the future to expand your business or cover unexpected circumstances. Keep in mind that some banks may extend lending in the form of a business credit card. You may reserve the card until you need to use it. 

Reach out to a bank in your area, such as FNCB Bank, to learn more about business checking.