Posted in Debt Free Me

Month End: March Snapshot

At the end of March, I’ve come one step closer to being consumer debt free. More importantly, I had a discussion with someone I care about. This person had been a pillar in my life growing up, and a life event changed how I saw him. Unfortunately, even after intervening with him, I found that he hadn’t changed, and I’m wrestling with what do next. It’s in moments like these that I put my trust in God, my wife, my parents, and my close friends. I’m very thankful for what this year has brought despite the challenges.

If you notice, the current balance on my WF line of credit increased by $20 from $4,650 to $4,670 from the remaining balance of last month versus the current balance of March. This increase is due to the annual fee. Most of your personal lines of credit that you may have with a bank or credit union will charge you an annual fee. Honestly, it’s the price you pay for having a line of credit that charges less interest than your credit cards.

This month, I saw my credit score with Transunion increase. This increase is due to the installment loan, the increasing availability of my revolving line of credit debt, my on-time payment history, and the age of my credit. There are three different type of debt that are recorded by the three credit bureaus, and those are revolving, installment, and mortgage. There are different factors that can affect your credit score. An installment and mortgage loan can increase your credit score, especially if the loans are paid with principal and interest payments. If you have a mortgage loan, then make sure you pay it, because having 30+ late payment can adversely affect your credit score. I’m very thankful to what I’ve been able to build up in my personal savings. I believe you should aim to have three months’ worth of income saved up.

If you want to learn more about how I’m increasing my income while reducing debt, or if you want to have someone to discuss your debt reduction strategy with, or if you need me to check your financial pulse then, contact me.

Also, learn more about how I use the self-lending principle through contacting me

This month’s video is Secrets From a LIFEHACKER | This Is What They Don’t Want Us To Learn (very illuminating!) from the Video Advice YouTube channel.

“The LORD will send rain at the proper time from his rich treasury in the heavens and will bless all the work you do. You will lend to many nations, but you will never need to borrow from them.”

I believe in your journey to….

A Debt Free Me

Posted in Pursuit of Excellence

December 14, 2016

Tobacco companies and gun manufacturers get plenty of scorn. Yet for some reason, the multinational corporations that make and sell perhaps the most addictive and damaging legal substance of all get a free pass. To the point that when such a company is the target of an acquisition or merger, senators and governors of opposing parties will band together to see that nothing even threatens to jeopardize the company’s future. We’re referring to purveyors of alcohol in general, and Anheuser-Busch InBev (BUD) in particular. The world’s largest brewer sells $43.6 billion worth of the demon liquid (and related, less satanic potables) every year, boasting a high gross margin of 60.7% and inspiring some of the strongest customer loyalty this side of Harley-Davidson Inc. (HOG). The result is a $177 billion company that seems capable of doing little wrong in the eyes of investors. In 2008, InBev merged with Anheuser-Busch. Anheuser-Busch InBev operates in 25 countries. The company divides its operations into 9 regions: North America, Mexico, Latin America North, Latin America South, Europe, Asia Pacific North, Asia Pacific South and Global Export & Holding Companies. The company’s North American region was responsible for 25.8% of total volume in 2015 – totaling in 118 million hectoliters (over 3.1 billion gallons). We take it for granted that the region that includes the United States has to be Anheuser-Busch InBev’s largest, right? Wrong. That would be Latin America North, at almost 27%. This includes Brazil, one of the combined company’s countries of origin. The Asia Pacific region follows at 19.3%. On a per-capita basis, no one drinks like Europeans do. Volume there accounted for 9.4% of the company total, followed by Mexico at 9.1%, and Latin America South at 7.9%. Anheuser-Busch InBev has announced plans to buy SABMiller, the world’s second-largest brewer. The investor who goes long on Anheuser-Busch InBev stock is rarely disappointed, whether in the short term or beyond.

Credit card debt can be a major roadblock to your financial goals, such as saving for retirement or increasing your net worth. Unfortunately, new data from the New York Federal Reserve suggests that after a debt decline, Americans are borrowing money at a rate that approaches pre–Great Recession levels. The result: Household debt is rising and credit cards are a major driver, along with mortgages, student loans and auto loans. Here’s a quick breakdown of what the Fed’s research uncovered. Credit card debt continues to contribute to a household’s total indebtedness, as well as student loan and mortgage debt. The increase in household debt may be attributable to two primary factors: a steady increase in the cost of living and stagnation in wages. Since 2003 household incomes have increased by 28% but the cost of living has climbed by 30%. That gap doesn’t sound big, but the disparity between earning and spending may be a driving force for some Americans to turn to credit cards to cover the gap. Some items, such as medical costs (57%) and food and beverage prices (36%) increased massively more. The cost of living is going to force people to create a debt repayment plan, and at the same time force others to create additional streams of income. I suggest that if you haven’t created a budget, then you should. A budget will show you how much you are spending, and when your income is the most vulnerable.
If you need are interested in creating a budget, then contact me for a financial checkup in the contact me section.

For this week, I’ve included How to Retire Early: The Shockingly Simple Math from Video School Online YouTube channel.

“If you think you know it all, you’re a fool for sure; real survivors learn wisdom from others.” Proverbs 28:26 MSG