So you have read all the books, conquered the mindset portion of your journey focusing on saving and living a lifestyle that is well below your means, and now you are ready to invest. What’s next for most people is the accumulation of a set monetary amount that you will invest into an asset. You worked overtime, got a side hustle and were able to save 10,000 to 20,000 dollars to put down on your first rental property and now you do so and feel great but there is one problem. You are out
So you don’t have any collections, late payments, or charged off accounts on your credit, but you still struggle being approved for any loans or credit accounts? If you find yourself constantly getting denied for credit, then you may need to focus on building positive credit history. I know most people are asking, “Well, how am I supposed to do that when I can’t get approved for anything???” To start building credit, or even rebuilding, you will have to start with some unconventional ways first. Apply for a Credit Builder Loan. Credit builder loans
There is a relatively unknown concept in many circles that is a powerful wealth-building tool that many of us know the fundamentals of but few use to supercharge their decent to financial freedom. This concept is called “house hacking” and gives you the ability to live rent-free or subsidize a good portion of your rent, allowing you to save or invest what would normally be paid to a landlord or mortgage company. Now before you write this off or think that this is some scheme to get you to pay money to some “guru”
So my husband and I have been saving our spare change for the last couple of years and let me just say, it adds up QUICK! Every two weeks we cash ours in (We go to Publix and use their coin machine) and its usually anywhere between $45-$60.00 in there. (That is the actual jar we use in the picture above!) We use ours for date night, however there are countless ways you can use your spare change and you can allow yours to build up even longer for different goals you may have!
Financial literacy was always something that I took for granted. I mean we all know the old sayings of “pay yourself first” “live within your means” and other information passed down from generation to generation which basically amounted to enjoying the weekend with friends and loved ones and hoping that you saved enough money for gas to get back and forth to work until you got paid on Friday. This is what life is like for most americans and without pursuing resources that will further educate you on the pillars of finance will be most
I remember my credit clients used to absolutely HATE when I tell them that they need to get a credit card in order to see a real boost in their credit score! The majority feel that they lack the discipline to use the card responsibly. Although I definitely understand, (sometimes I have to hide my cards as well) credit cards are going to be the fastest way to build a credit score especially if you lack existing credit. The best tip I can give someone who is recovering from bad credit is a secured
This article contains affiliate links for services and sites we trust or use. To learn more , please read our full disclaimer. How many times have you gotten that good paying job or that raise at your current job and felt that you were finally on your way to doing better financially, only to find yourself in the same financial position you have always been in; living paycheck-to-paycheck and unable to save? This is because the more money we make the more money we tend to spend. Once we get an increase in pay, we