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[chichiscloset]

How I Earned a 769 Credit Score at 23

I believe that understanding the ins and outs of managing our finances is essential in our quest for leveling up in life. After all, what good is achieving our dreams if we're not equipped with the knowledge and tools to sustain and grow our success? So how did I do it?

1. Living with parents while in school

While I had the advantage of fewer bills to pay, I still encountered challenges in managing my finances effectively. In the past, I used to blow money like it was nothing, with little to no savings to show for it. However, recognizing the opportunity to change my habits, I embarked on a journey of financial education, starting with reading "Rich Dad Poor Dad" by Robert Kiyosaki. Over the course of 6-12 months, I diligently saved and invested most of my income, laying the groundwork for my financial future. This disciplined approach not only helped me build a healthy relationship with money but also demonstrated to the bank that I was responsible and capable of handling a credit card. It was only after this period of financial growth and learning that I felt confident enough to apply for my first credit card. After being rejected 3 times prior!

2. Become Delusional as F**k

The biggest change in my relationship with money came when I realized that it's not inherently bad; I have a good relationship with money, and money works for me—this is my reality i lived in even during the times I was broke. I remained delusional in my belief that financialsuccess for me was attainable, and remarkably, it worked. This perspective empowered me to view money as a tool for creating wealth rather than something to fear. I learned to use a credit card to work for me, not as a slave to debt, and discovered how to leverage debt to make more money. This shift in mindset helped me overcome financial fears and embrace opportunities for growth.

For more financial literacy context read these posts

Escape Your 9-5 Job If You Don’t Want to Work

“Make Money When your Young, Pretty & Ambitious.”

How to make a credit card work for you

Keep Low Credit Utilization:

Aim to keep your credit card balances low relative to your credit limits. This utilization ratio should ideally be below 30%, with lower percentages being even better. High credit utilization can negatively impact your credit score.

Pay On Time, DONT MISS PAYMENTS

Consistently paying your credit card bills on time is crucial for maintaining a high credit score. Late payments can significantly damage your credit score and stay on your credit report for years.

Keep Old Accounts Open:

The length of your credit history is an essential factor in determining your credit score. Keeping old credit card accounts open, even if you're not actively using them, can help lengthen your credit history and improve your score.

Monitor Your Credit Report:

Reviewing your credit report allows you to identify any errors or inaccuracies that could be negatively impacting your score. You're entitled to a free credit report from each of the major credit bureaus—Equifax, Experian, and TransUnion—once every 12 months.

Avoid Closing Old Accounts

Closing old credit card accounts can shorten your credit history and reduce your overall available credit, both of which can lower your credit score. Unless the account carries high fees or you're unable to manage it responsibly, consider keeping it open.

Conclusion:

Through disciplined financial habits and strategic planning, I achieved and maintained a high credit score. This journey is only the beginning of my commitment to financial responsibility. For more insights on financial literacy, be sure to check out my other posts. Remember, with dedication and planning, anyone can achieve their financial goals

Until we talk again !

Chichi

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[midnightkale95]

Struggles as a writer.

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انطلاقًا من مكانتنا كأكبر شركة دفع إلكتروني في العراق، والتزامنا بتقديم أفضل التقنيات لمجتمعنا الكريم يسرنا بالإعلان عن توقيع مذكرة تفاهم مهمة بين "الشركة العالمية للبطاقة الذكية (كي)" وشركة "سامسونج الكترونكس" والذي سيعزز من قدرتنا على تقديم أحدث وأفضل المنتجات والحلول التقنية إلى السوق العراقية وسيضمن بأن التكنولوجيا ستصل الى الجميع في المجتمع، مما يعزز من ازدهار الأعمال ويحسن جودة الحياة نحن متحمسون للغاية لمشاركتكم في هذه الرحلة المذهلة نحو تقنيات متقدمة ومستقبل مشرق في العراق.

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Company Size and Different company sizes

There are five main types of business loans: general, small business, high-risk, venture capital, and corporate. Each has its own eligibility criteria that must be met before the loan can be approved.

1. General Loan Eligibility Criteria: The company's size is a key determination when it comes to Business Loans. In order to secure a loan, the business must have at least $1 million in assets and maintain a positive credit score.

2. small business Loan Eligibility Criteria: Another important factor when it comes to Business Loans is the company's size. A loan for a small business must have an annual revenue of $25 million or less and require no more than 8 employees.

3. High-Risk Loan Eligibility Criteria: A high-risk lender will only approve loans for businesses with significant risks associated with their industry or product lines. These include active counterfeiting, volatile market conditions, or high levels of risk involved in their operations such as foreign competition or product recalls). This includes companies with annual sales over $1 billion but fewer than 10 employees.

4. venture capital Loan Eligibility Criteria: Venture capitalists are often interested in investing early stage companies that have little risk attached to them and who can potentially generate significant returns on investment (ROI). To secure a venture capital loan, the business must meet several specific criteria including having an innovative technology or Within one year of filing for initial public offering (IPO) 5 Corporate Loan Eligibility Criteria: Corporate loans are typically available to companies with assets totaling more than $250 million but less than $5 billion

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[investmentplanningadvisor]

How Retirement Planning Isn't Just About You in Canada, It's a Legacy for Generations

Retirement planning is often viewed as a personal endeavor focused solely on securing one's financial future during the golden years. However, the significance of retirement planning extends far beyond individual needs—it's about creating a lasting legacy for future generations. In Canada, where the aging population and shifting economic landscape present unique challenges, the importance of retirement planning cannot be overstated. Let's explore why retirement planning is crucial, not just for individuals but for the legacy they leave behind.

1. Financial Security for Future Generations: One of the primary reasons why retirement planning is important is its impact on future generations. By diligently saving and investing for retirement, individuals can ensure financial security not only for themselves but also for their children and grandchildren. Building a robust retirement fund allows individuals to leave a legacy of stability and prosperity for their loved ones, providing a solid foundation for future generations to build upon.

2. Passing on Wealth and Assets: Retirement planning involves more than just accumulating wealth—it's about strategically managing assets to pass on to heirs and beneficiaries. Whether through estate planning, trusts, or gifting strategies, retirees can distribute their wealth in a tax-efficient manner, maximizing the value of their legacy for future generations. By carefully considering how assets will be transferred and inherited, individuals can create a lasting impact that extends beyond their own lifetime.

3. Educational Opportunities: A well-planned retirement can pave the way for educational opportunities for future generations. By setting aside funds for grandchildren's education or contributing to registered education savings plans (RESPs), retirees can invest in the future success of their family members. Providing access to quality education equips future generations with the knowledge and skills they need to thrive in an increasingly competitive world.

4. Supporting Charitable Causes: Retirement planning offers an opportunity to support charitable causes and make a positive impact on society. Whether through donations, bequests, or establishing charitable trusts, retirees can leave a legacy of philanthropy that benefits communities and causes close to their hearts. By incorporating charitable giving into their retirement plan, individuals can leave behind a legacy of generosity and social responsibility that extends far beyond their own lifetime.

5. Preserving Family Values and Traditions: Retirement planning is about more than just financial assets—it's also about preserving family values and traditions for future generations. By documenting family history, sharing stories, and passing down cherished heirlooms, retirees can leave a legacy that transcends monetary wealth. These intangible legacies help connect future generations to their roots and provide a sense of identity and belonging.

6. Ensuring Long-Term Care and Support: Retirement planning involves preparing for potential health care needs and long-term care expenses in later life. By securing adequate insurance coverage and setting aside funds for medical costs, retirees can alleviate the financial burden on future generations. Planning for long-term care ensures that loved ones are not burdened with unexpected expenses and can focus on providing care and support during times of need.

7. Promoting Financial Literacy: Retirement planning is an opportunity to instill financial literacy and responsibility in future generations. By involving children and grandchildren in financial discussions and decision-making processes, retirees can pass on valuable knowledge and skills related to budgeting, saving, and investing. Promoting financial literacy equips future generations with the tools they need to make informed financial decisions and achieve their own financial goals.

In summary, retirement planning is not just about securing one's financial future—it's about creating a lasting legacy for generations to come. By prioritizing retirement planning, individuals can ensure financial security, pass on wealth and assets, support charitable causes, preserve family values, and promote financial literacy for future generations. In Canada, where retirement planning is more important than ever due to demographic shifts and economic challenges, taking proactive steps to plan for retirement is essential for building a legacy that extends far beyond individual lifetimes.

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Peterborough, Ontario, CA K9H 0A4

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India's Coal Power Export Desires: A Difficult exercise

India’s declaration to export 80 GW of coal power age limit by 2030 features its development as a huge player in the worldwide energy market. This aggressive arrangement expects to exploit overflow coal power limit and address adjoining nations’ developing energy needs. Nonetheless, it additionally raises worries about natural effect and India’s obligation to reasonable energy objectives. Power…

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[mcommercialcapitalgroup]

A Guide to Commercial Real Estate Financing and Real Estate Financing Strategies

Introduction

Commercial real estate is a lucrative investment option that can yield substantial returns for savvy investors. However, entering the world of commercial real estate requires more than just finding the right property; it also involves understanding the intricacies of commercial real estate financing. In this comprehensive guide, we will explore the basics of commercial real estate financing and essential strategies to help you navigate this dynamic market successfully.

Understanding Commercial Real Estate Financing

Commercial real estate financing refers to the process of securing funds to purchase, develop, or renovate commercial properties such as office buildings, retail spaces, industrial facilities, and multifamily apartments. Unlike residential real estate, commercial properties are typically more expensive, and the financing options are more diverse.

Types of Commercial Real Estate Financing

Traditional Loans: Banks and financial institutions offer commercial mortgages with fixed or variable interest rates. These loans are suitable for long-term investments and come with various term options.

SBA Loans: Small Business Administration (SBA) loans are government-backed loans designed to help small businesses acquire commercial real estate. They offer favorable terms and lower down payment requirements.

Hard Money Loans: These short-term loans are secured by the property itself and are ideal for investors looking to flip or rehabilitate commercial properties.

Commercial Real Estate Crowdfunding: This innovative financing option allows multiple investors to pool their resources to invest in commercial properties.

Real Estate Financing Strategies

Create a Solid Business Plan: Before seeking financing, develop a comprehensive business plan outlining your investment goals, property analysis, and projected returns. A well-thought-out plan can attract lenders and investors.

Evaluate Your Credit Score: A good credit score is crucial for securing favorable financing terms. Ensure your personal and business credit reports are in excellent shape.

Down Payment and Equity: Be prepared to make a substantial down payment, usually ranging from 15% to 35% of the property's purchase price. The higher the down payment, the better the financing terms.

Diversify Financing Sources: Explore multiple financing sources, such as combining traditional loans with private equity or crowdfunding, to minimize risks and maximize funding options.

Market Research: Thoroughly research the local commercial real estate market to identify emerging trends, potential risks, and opportunities. A deep understanding of the market can help you make informed investment decisions.

Risk Management: Develop a risk management strategy to protect your investment. Consider factors like interest rate fluctuations, market volatility, and property-specific risks.

Conclusion

Commercial real estate financing is a complex but essential aspect of investing in this thriving sector. By understanding the various financing options and implementing effective strategies, you can secure the funding needed to pursue profitable commercial real estate opportunities. Whether you are a seasoned investor or a newcomer to the field, this guide will help you navigate the world of commercial real estate financing with confidence and success.

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[bizfluence]

Mastering Your Finances: A Comprehensive Guide to Personal Finance

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