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Why You Need to Improve Your Cash-Flow, Today!
In this episode of the Financial Griot Podcast, Lovely and Lawrence talk about cash flow positivity during a time of high inflation and even higher prices. Most people don't know how much they spend monthly or even how much they earn. This is a good time to pause and do a mid year inventory so you can make sure your money management is up pre-recession. It's up to you to be prepared for the next opportunity.
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Seven Money Principles to Grow Your Net Worth Faster
As the world prepares to enter into a new global recession for 2023, establish your money principles. It’s the only way you will be able to succeed. We’ve held the big R at bay since 2018 but it’s long overdue. “Global growth is slowing sharply, with further slowing likely as more countries fall into recession. My deep concern is that these trends will persist, with long-lasting consequences that are devastating for people in emerging markets and developing economies,” said World Bank Group President David Malpass. Your Personal Economy Will Force You Back to Your Money Principles In January 2014, I found myself starting over from scratch. With a maxed-out $5,000…
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The 7 Highly Effective Ways to Achieve Your Goals
92% of people never achieve their goals. While that might be true for them, instead lets focus and learn from the eight percent. Back in 350 BC, Aristotle stated “Our goal in life is to achieve happiness, which comes in two varieties: the human happiness we achieve by exercising the virtues of character, and the godlike happiness we achieve when we grasp eternal truths.“ To reach this destination, the great philosopher emphasizes the importance of education and our own personal habits. Over 2,000 years later, Psychology Today agreed “Consistent habits allow us to achieve our goals.” Here are the 7 lessons to help you achieve your goals: 1. Begin with…
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Here’s the Latest 401k, IRA and Other Contribution Limits for 2023
One of the best ways to become an automatic millionaire in your lifetime. Don't skip on the contributions.
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How to Prepare and Recover from Financial Setbacks
Learning from past financial setbacks is a tried and proven method to build a Better Future. An Ameriprise Financial study found that 75% of American experience at least one major financial setback in their lifetime. This often come at a cost of more than $50,000. For 42% of Americans, the first financial mistake starts at college with unnecessary expenditures, credit card debt and student loans. We sign up early and get roped into a lifestyle of debt. Prior to the pandemic, many were on track to default on their student loans. So much so that one out of every ten Americans has defaulted on a student loan. An average of…
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How We Made $20k in Passive Income for Q2 2022
The second quarter of 2022 was hopeful. High prices raged on and it's likely that the passive income economy dragged down. With price inflation up, some goals might not materialize this year but we will likely still land in the positive. My internal compass still leans toward overall gratitude. I work from home. Additionally, I have a beautiful wife who loves to travel like I do. Our growth is proving to us that the solutions to a challenging word are merely tougher and more resourceful people.
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Not-a-Recession Equals Opportunities for Black and Brown Millennials
While falling markets would typically scare people into saving and staying home, most are happily liquidating their savings or tapping into consumer credit. This is a perfect storm of “not-a-recession” arguments but try not to get distracted by the noise.
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How to Quickly Calculate Your Wealth
Inflation raging +8%, it's all about wealth protection. While we share our Net Worth monthly, I still get the impression that most don't know.
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Here are the Most Common Financial Mistakes You Should Avoid
No matter if you pivoted from financial mistakes or barely avoided them, this is a great list for those who want to build wealth SMARTER and more effectively.
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Here’s How to Boost Your FICO® Score Organically
To start, Banks and Credit card lenders use several different scoring models to calculate creditworthiness, one of which is the FICO. Since its introduction, FICO® Score became widely adopted by 90% of top lenders. While it is similar to Credit Score, FICO®’s initial goal was to improve business decisions by using data intelligently. Payment history and amount of debt are the two biggest factors in determining your FICO® Scores. As such, changes in these areas can have the highest impact. The Most Effective Way to Grow Your FICO® Score If you want to know how to grow your credit score organically, remember to these key ingredients. Your payment history accounts…
