Loan Builder: The Strategy That Builds Credit While You Save
Loan Builder: The Strategy That Builds Credit While You Save
Most people think building credit means going into debt. You apply for a card, you spend, you pay it off, and hopefully your score climbs. That's one way. But there's another path that a lot of people don't know about β and it's one that grows your savings at the same time it builds your credit history.
It's called a loan builder account, sometimes called a credit-builder loan. And if you're starting from scratch or recovering from past mistakes, it might be one of the smartest first moves you can make.
What a Loan Builder Account Actually Does
Here's how it works. You apply through a credit union or community bank. They approve you for a small loan β usually somewhere between $300 and $1,500. But instead of giving you the money upfront, they hold it in a secured savings account while you make monthly payments.
Once you've made all your payments, the money is released to you. Meanwhile, every on-time payment gets reporte...
Do I Need Life Insurance?
I hope you're enjoying your morning, afternoon, or evening, and you decide to hang out with me to learn more about a topic that most of us associate with less than pleasant issues, Life Insurance.
I choose to use life insurance; differently, I think life insurance can be used for wealth creation - as an asset tool. The goal of people like me is to minimize - minimize your premiums, which means the cost of insurance, and maximize cash value growth. If you want to know more about how life insurance works and what questions to ask when thinking about buying life insurance watch "What to Know About Life Insurance".
CLICK HERE TO WATCH THAT VIDEO
Now if you're here to get tips from The Finance Geek - here they are. I believe that to be able to coach you guys, I have to be using these methods on my finances, so I have an update on my journey and how I landed on my numbers. I've been working on this plan for myself for six months, and while I regularly update the YouTube crew o
...Funding Your Kingdom
We've been going over some vital lessons on how to establish your Kingdom, how to protect it, how to create activity income, passive income, and most recently acquiring tools for your Kingdom. Now, we're going to start stepping into funding your Kingdom using the Velocity Banking concept to your advantage.
Even after you're completely debt-free, you can continue to utilize Velocity Banking strategies to maximize your business productivity. Velocity Banking's primary use is actually to make money and invest money. That's what real estate investors and business owners are doing with their funds when they practice Velocity Banking.Β
Β I want to give you an example of how I fund my own Kingdom, so I can be a cheerful giver and help people while building my business -with cash flow, great credit, and the bonus of feeling secure in my finances.
Watch the video below for a look at the numbers:
Like I mentioned in the video above - the end goal is to get to a ...
