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Showing posts from September, 2018

Tapping the Equity In Your Home

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Over time, the value of your home has grown and your mortgage balance has been reduced (or even eliminated). The equity (the property's value minus any liens against it) you now have in your home is a reservoir of funding potential. You may decide to tap into it for various purposes, such as remodeling your home, paying off high-interest loans or credit card debt, buying a car, or sending your child to college.
The pros and cons Home equity financing (which may be set up as either a loan or a line of credit) is secured by the equity you've built up in your home. This type of financing has several advantages compared to other forms of personal loans: Higher borrowing limitsFavorable interest ratesTax-deductible interest--if you itemize your deductions on your federal income tax return, you may be able to deduct the interest on up to $100,000 ($50,000 if married filing separately) of home equity debt. There can be drawbacks, however: You may have to pay closing costs and other fee…

Trust Basics

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Whether you're seeking to manage your own assets, control how your assets are distributed after your death, or plan for incapacity, trusts can help you accomplish your estate planning goals. Their power is in their versatility — many types of trusts exist, each designed for a specific purpose. Although trust law is complex and establishing a trust requires the services of an experienced attorney, mastering the basics isn't hard.
What is a trust?A trust is a legal entity that holds assets for the benefit of another. Basically, it's like a container that holds money or property for somebody else. You can put practically any kind of asset into a trust, including cash, stocks, bonds, insurance policies, real estate, and artwork. The assets you choose to put in a trust depend largely on your goals. For example, if you want the trust to generate income, you may want to put income-producing securities, such as bonds, in your trust. Or, if you want your trust to create a pool of ca…

Is what I am doing today, getting me closer to where I want to be tomorrow! ?

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via Instagram

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What’s preventing me from making it a reality ?
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At times we may feel that our dreams and ambitions are just an impossible dream. I certainly did at some point in life .
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I aspired to be financially independent, and not worrying about the next bill on line. I also envisioned a lifestyle enjoying my passion for traveling. I honestly though that day was so far away, I couldn’t even preoccupy myself with it at the time .
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And then I realized that was exactly the one thing I was doing wrong. The one thing stopping my dream was myself, my unwillingness, and my mind! .
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I learned that changing my thoughts had power, that changing my habits were momentum, and it was then when I was filled with will and self empowerment to start my journey towards what once was my furthest dream .
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Now I can say I’ve accomplished two out of the three. But you bet I am closer than where I once were 5 years ago! .
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 Find your will, find your power, your motivation. Have cheerleaders…

Choosing a Credit Card

Like dandelions in a spring lawn, credit card offers pop up everywhere--stuffing your mailbox, flashing on the Internet, even falling from the magazines in your doctor's waiting room. And they all sound so attractive. "0% APR until next year!" "No fee if you transfer a balance now!" "Low fixed rate!" You're thinking of applying for a card, but how do you decide which offer is best for you?
Learn the lingoIn order to evaluate credit card offers, you'll need to learn the language they use. Here are some of the more important terms. Annual percentage rate (APR): the cost of credit as indicated by a yearly (fixed or variable) interest rate. This rate and the periodic rate (the APR expressed as a daily or monthly factor) must be disclosed to you before you become obligated on the card.Balance computation method: the formula used to determine the outstanding balance on which you're charged interest for the billing period.Finance charge: the cost o…

I am more than just a paying-down-debt machine •

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 I am worthy of my time
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I will live a stress-free life
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I’ll challenge you to start your day with a purpose, to call the energy you want in your life. Changes happen when you have the right mindset, and habits evolve with constant reminders and actions. What changes do you want to see in your life!?

Credit Cards For The Unwary

It's hard to imagine functioning in today's society without access to credit. However, you need to be careful not to fall victim to some of the pitfalls associated with it.
Revolving credit can make it hard for you to pay off debtCredit cards allow you to spend money you don't currently have, and to repay what you've spent over time instead of all at once. When you use a card, the balance you owe increases, and your remaining available credit decreases. As you make your payments to reduce your outstanding balance, your available credit once again increases. Thus, your credit revolves around for you to use again. Since you can spend more than you currently have, you can easily spend more than you can afford. As your balance increases, your minimum monthly payments also increase, and soon you'll find yourself in over your head--especially if interest rates and a variety of fees are high. Interest and fees can add to the costCredit card debt generally carries a high inte…

My mission is to help other millennials reach financial independence just as I’ve been able to do so for myself!

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• 🔸 During my years of experience, I’ve found that when it comes to financial decision-making, the common denominator on individuals are lack of knowledge and understanding
• 🔸 That’s why my commitment to you will be focused on education, motivation, empowerment and energizing willpower to make you achieve your most distant goals in a shorter period of time
• 🔸 As a financial fitness coach, I will work you every step and provide as much assistance and guided progress as you feel comfortable with. After all, this is you financial plan, you’re on the wheel. Im just on the passenger seat giving you directions
• 🔸 What are your amvisions!? It’s important to you, it’s important to me. Let’s talk

How Student Loans Impact Your Credit Score

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If you've finished college within the last few years, chances are you're paying off your student loans. What happens with your student loans now that they've entered repayment status will have a significant impact — positive or negative — on your credit history and credit score.
It's payback timeWhen you left school, you enjoyed a grace period of six to nine months before you had to begin repaying your student loans. But they were there all along, sleeping like an 800-pound gorilla in the corner of the room. Once the grace period was over, the gorilla woke up. How is he now affecting your ability to get other credit? One way to find out is to pull a copy of your credit report. There are three major credit reporting agencies, or credit bureaus — Experian, Equifax, and Trans Union — and you should get a copy of your credit report from each one. Keep in mind, though, that while institutions making student loans are required to report the date of disbursement, balance due, a…

Understanding Your Credit Score

Your credit report contains information about your past and present credit transactions. It's used primarily by potential lenders to evaluate your creditworthiness. So if you're about to apply for credit, especially for something significant like a mortgage, you'll want to get and review a copy of your credit report.
You can see what they see: getting a copy of your credit reportEvery consumer is entitled to a free credit report every 12 months from each of the three credit bureaus: Experian,TransUnion, and Equifax. Besides the annual report, you are also entitled to a free report under the following circumstances: A company has taken adverse action against you, such as denying you credit, insurance, or employment (you must request a copy within 60 days of the adverse action)You're unemployed and plan to look for a job within the next 60 daysYou're on welfareYour report is inaccurate because of fraud, including identity theftVisit www.annualcreditreport.com for more…

Ever wondered what financial planning was all about ⁉️

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What is covered under a plan ⁉️
If it is truly that important ⁉️
Take a look, and if you have any questions, you know where to find me! 😊

Debt Consolidation

If you have a lot of debt, you're not alone. Today, more and more Americans are burdened with credit card and loan payments. So whether you are trying to improve your money management, having difficulty making ends meet, want to lower your monthly loan payments, or just can't seem to keep up with all of your credit card bills, you may be looking for a way to make debt repayment easier. Debt consolidation may be the answer.


What is debt consolidation?Debt consolidation is when you roll all of your smaller individual loans into one large loan, usually with a longer term and a lower interest rate. This allows you to write one check for a loan payment instead of many, while lowering your total monthly payments. How do you consolidate your debts?There are many ways to consolidate your debts. One way is to transfer them to a credit card with a lower interest rate. Most credit card companies allow you to transfer balances by providing them with information, such as the issuing bank, ac…

Getting Started: Establishing a Financial Safety Net

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In times of crisis, you don't want to be shaking pennies out of a piggy bank. Having a financial safety net in place can ensure that you're protected when a financial emergency arises. One way to accomplish this is by setting up a cash reserve, a pool of readily available funds that can help you meet emergency or highly urgent short-term needs.


How much is enough?
Most financial professionals suggest that you have three to six months' worth of living expenses in your cash reserve. The actual amount, however, should be based on your particular circumstances. Do you have a mortgage? Do you have short-term and long-term disability protection? Are you paying for your child's orthodontics? Are you making car payments? Other factors you need to consider include your job security, health, and income. The bottom line: Without an emergency fund, a period of crisis (e.g., unemployment, disability) could be financially devastating. Building your cash reserve

If you haven't establ…