Does the idea of watching your money grow right in front of your eyes sound appealing? This is what compound interest can do for you.
The U.S banking system may as well be stuck in the 1990s. Trying to wire any major sums between banks will take days to clear, even in an age where digital bank accounts are common.
Warren Buffet, one of the world’s most successful investors, acknowledges that stock picking doesn’t work for everybody and recommends: investing in low-cost index funds. Further, he says that index funds are, “the most sensible equity investment for most average and long term investors.”
If you are trying to build a business or a brand, you need to find all the different ways to reach your audience. Thankfully, due to the advance of technology, there are various ways to communicate with people.
Among the first key decisions you make as a business owner is choosing a legal business structure. A business structure is a critical determinant in many components of your business including taxes, raising capital, daily operations, and the amount of paperwork to file. As a result, you should choose a business structure that benefits you and protects you.
Mismanaging your credit is a surefire way to end up in the financial doghouse. Trying to make that leap into real estate, the car rental industry, or any business idea without a sustainable line of credit is making the game hard on yourself. The U.S credit system is designed for you to take advantage if you’re willing to spend enough time to learn. Lower credit scores lead to major purchases like cars or homes becoming pocket drainers over time because of higher interest rates.
It doesn’t matter where you started on the credit totem pole whether it’s in the 400s, 600s, or 700s. Lower scores only dictate how much longer the rebuilding process will be. What does matter is actively searching for new ways to take control of your finances, and not going down with the ship if you see your credit score sinking.
Credit cards often get a bad rep as another way to hold onto useless debt. People boast about their lack of established credit, clueless that without any credit lines their interest rates on major purchases will skyrocket. A basic example of the benefits of a good line of credit would be when you’re trying to buy a new car: