by MSE Staff | Published 30 Jan 2022 

When it comes to investing, there are a lot of options out there. You can invest in stocks, bonds, real estate, and a variety of other assets. But for new or busy investors who don't have the time or skills to perform fundamental analysis or technical analysis; mutual funds, ETFs, and Robo advisors may be the best option. In this blog post, we will discuss the value of simplicity when it comes to investing and why mutual funds, ETFs, and Robo advisors may be the best choice for you!

What Is a Fundamental Stock Analysis?

Fundamentals are the underlying factors that influence a company's stock price. These include things like earnings, dividends, book value, cash flow etc. Fundamental analysts attempt to understand these factors in order to predict a company's future performance and stock price.

What Is a Technical Stock Analysis?

Technical analysts look at a company's stock price and chart patterns to try and predict future movements. They use things like moving averages, volume indicators, and Fibonacci retracements to make their predictions.

The Value of Mutual Funds:

Mutual funds are a great way for new or busy investors to get exposure to a variety of stocks without having to do any research. All you need to do is choose the fund that best suits your risk profile and investment goals. And best of all, most mutual funds have low fees!

The Value of ETFs:

ETFs are similar to mutual funds, but they trade on an exchange like stocks. This allows investors to buy and sell shares throughout the day. ETFs also offer a wide variety of investment options, including stocks, bonds, and real estate. And like mutual funds, ETFs have low fees!

The Value of Robo Advisors:

Robo advisors are a relatively new investment option that uses artificial intelligence to manage your portfolio. They offer a wide variety of investment options and usually have lower fees than traditional investment advisors. Robo advisors can be a great option for new or busy investors who don't have the time or skills to invest on their own.

Why Mutual Funds, ETFs, and Robo Advisors?

There are a few reasons why these options may be the best choice for new or busy investors:

Mutual funds and ETFs offer simplicity and diversification. With just one purchase, you can own a piece of dozens or even hundreds of different companies. This reduces your risk since you are not invested in just one company. And because they are passively managed, you don't have to worry about doing any research or making any decisions.

Robo advisors are a great option for those who want to take the guesswork out of investing. They use algorithms to create and manage your portfolio, so you don't have to worry about making any investment choices.

Both mutual funds, ETFs, and Robo advisors offer a lot of value when it comes to simplicity and ease of use. If you are new to investing or just don't have the time to do all the research yourself; these may be the best options for you!

Final Thoughts

It’s important to remember that there are many different types of investments out there, and not every type is right for everyone. Whether you prefer stocks or bonds, mutual funds or ETFs, Robo advisors or do-it-yourself investing; we can help! As the saying goes “too much of a good thing isn't always better." Why don't you take some time to see what's best for your needs? Book a free wealth discovery session with Curtis Banks today!

by MSE Staff | Published 14 Nov 2021 

What's the difference between Money Smart Transformation and Money Smart Pivot? Is one better than the other? This article will explain what each program is about, how they are different, and which might be best for you.

A Plan for Positive Change

Both programs are designed to help you understand your finances and develop a plan for positive change. The main purpose of both is to teach skills so that people can better manage their money today. So, which is right for you?

Your Schedule

Money Smart Transformation vs Money Smart Pivot

Both Money Smart Transformation and Pivot are designed to fit the busy day for working professionals. Implementation classes and group mentoring sessions take place during the evening on Wednesdays and intensive live classes happen on Saturdays at the end of the month. Implementation and group mentoring sessions are typically 2-hour sessions. Intensive live classes are typically 10-hour classes. While participation is key to making progress in both programs, Curtis provides a recording of class sessions so that you can review. Money Smart Pivot members also have access to two private mentoring sessions with Curtis Banks every month.

Think about what your life looks like. Are you able to commit 2-3 hours per week building a brighter financial future? Are you able to commit to evening classes on Wednesdays? Are you able to commit to an intensive live class at least once a year?

Curriculum

Working Professionals vs Entrepreneurs

Curtis' programs are meant to provide you with financial education and wealth mentoring so that you can build wealth. Money Smart Transformation guides working professionals to take action in their finances and create sources of passive and investment income. Once someone reaches the point in their finances where they are generating passive income or business income alongside their earned income, Curtis recommends Money Smart Pivot. Pivot continues to provide financial education and includes 1-on-1 wealth mentoring. Curtis believes 1-on-1 mentoring is important for entrepreneurs because it provides time to focus on your business and life goals.

Length of Program

Transformation vs Pivot

Your success in either program is dependent upon the goals you set, the effort you put into achieving your goals, and external factors. Regardless, both programs will help you as long as you stay the course. Ideally, Money Smart Transformation is a 12–14-month program that ends with members reaching a higher level of financial wellbeing and income security. The curriculum for Money Smart Pivot continues after transformation graduates move on to generating passive income or business income alongside earned income.

Which Is Right for You?

We all want to be financially successful, but it's hard work. It takes time and dedication to learn the skills needed for success in this area of our lives. You can't just wing it or hope that you figure things out on your own because these are important steps in life - ones that should not be taken lightly! Which program would best suit your needs? Give us a call today so we can get more information about what you're looking for and see if there is any way we could help.

by MSE Staff | Published 13 Nov 2021 

The financial world is complicated and many of us need guidance when it comes to our finances. A financial educator provides education on personal finance topics. A financial coach will work one-on-one with clients to help them set goals and devise strategies for achieving these goals. Wealth mentors guide clients through all aspects of accumulating wealth, including identifying sources of income and developing ways to save money on taxes. This article will explore the differences between these three professionals so that you can make an informed decision on which one is right for you!

Note: this article uses a fictional characters and fictional events to help distinguish the differences between a financial educator, financial coach, and wealth mentor.

Casey's Story

Casey is in her 20s, fresh out of college. She has landed a job with decent pay and wants to establish good financial habits now so that she can live comfortably in retirement. The problem is that Casey doesn't know much about personal finance; this makes it difficult for her to self-advocate when purchasing services or negotiating salary.

Casey has decided to meet with a finance coach

Casey's Financial Coach: A financial coach helps people set and achieve personal finance goals, such as buying a home or paying for college tuition fees. Casey's goal is to establish good financial habits so that she can live comfortably in retirement. Her coach will help her identify her values when it comes to money, set financial goals that are meaningful to her, and devise a realistic plan for achieving these goals.

Benji's Story

Benji is in his 40s and is experiencing identity theft for the 5th time this year. The impact this is having on his credit and financial security are starting to wear down Benji's self-esteem. The problem is that Benji has not taken a financial literacy course since he was in college and things have changed considerably; this makes it a challenge for Benji to take the appropriate actions to prevent and protect against identity theft.

Benji has decided to meet with a financial educator

Benji's Financial Educator: A financial educator helps people of all ages and backgrounds become financially capable. They can teach you how to avoid identity theft, create a budget that works for your lifestyle, manage your finances for success, and invest in the right places so that you can retire comfortably one day. Benji needs help understanding why he is being targeted by cybercriminals and how to stop it from happening again. He also wants help understanding exactly what identity theft is and why he should be concerned about it.

Cindy's Story

Cindy is in her 60s and has recently retired after a 30-year career as an elementary school teacher. She had been planning for retirement all throughout her life; however, she now realizes that her money philosophy is not very different from how it was when she first started working.

Cindy has decided to meet with a wealth mentor

Cindy's Wealth Mentor: A wealth mentor guides their clients through all aspects of becoming wealthy including identifying sources of income and developing ways to save money on taxes. They can help you plan for retirement, create financial goals that are meaningful to you, and devise a realistic strategy for achieving these goals. Since Cindy currently has few sources of income or wealth accumulation strategies in place, her wealth mentor will work with her to identify what might be holding her back from becoming financially secure, so she'll know how best to move forward.

Which Is Right for You?

Making the world of finance more accessible for everyone is a goal that’s very near and dear to my heart. Curtis knows how important it can be to have someone there by your side as you embark on this journey. The financial educator educates, the financial coach provides hands-on support, and the wealth mentor guides clients through all stages of accumulating wealth. Which one makes sense for you? Why not sign up today for a free discovery session with Curtis banks!

by MSE Staff | Published 7 Nov 2021 

The Definition of Income

Income is the money you bring in, but that's not all! There are a variety of different types of income and near limitless ways to create streams of it. The number of income sources you maintain have a direct impact on your financial security and peace of mind.

The different types of income include

Earned Income: 

Income you earn from employment and includes your salary, bonuses, tips and commissions. It also refers to any income earned doing odd jobs or freelance work on the side such as babysitting or selling unused items online.

Passive Income:

Income you earn from assets such as rental properties. It also includes income earned through royalties for creative works like songs, movies and books.

Investment Income:

Income earned from investments such as dividends, interest or capital gains on your investments.

These income sources can all be classified as income and contribute to your overall financial wellbeing. However, it's important you know how each income stream is taxed so that the correct taxes are applied at the right times. Consulting with a tax planner to avoid overpaying in taxes is an excellent strategy to maximize your income.

Finances can be a huge source of stress and worry. But it doesn't have to be! There are many different types of income, and near limitless ways to create streams of money that will help you build the financial security and peace of mind you deserve. If we've piqued your interest in this subject matter, don't hesitate to book a free discovery session with Curtis Banks today. You and Curtis will work together so that you can feel confident about your future – both financially AND emotionally!

by MSE Staff | Published 6 Nov 2021 

Managing your money can be a challenge. It is not always easy to stay on top of the daily tasks that are required for managing your wealth. Curtis Banks, Wealth Mentor and Financial Educator, shares his Managing Money Tips with readers in order to help them manage their finances better. For those who want to build wealth, this article will give you some great tips that will help you get there faster!

Money Tip #1: Personal Development

Your ability to make sound financial decisions depends heavily on your financial knowledge and skills. This is known as your financial capability. A big part of your financial capability is your personal development. This includes things like improving your knowledge about finance, learning new skills and building better habits that will lead you to success in the long run.

Money Tip #2: Schedule Time to Review Your Accounts

Imagine you're reviewing your bank statement for the first time in over 6 months, and you notice that fraudulent charges started occurring 4 months ago. You promptly place the account on hold and attempt to get your money back. However, you may not get any of your money back if you report it beyond the 60-day limit according to the FDIC. This reporting timeline may change from country to country. However, it's important to review your accounts well within that timeline. There are a plethora of free calendar apps available that you can use to set reminders. Carve out time and honor it. Review your accounts regularly for accuracy.

Money Tip #3: Automate Your Money Management System

You've created a money management plan using Curtis Banks' Money Smart Allocation System. Depending on the payment options provided by your employer you may be able to have a portion of your income automatically deposited to meet your savings goals. As for your banking institutions, they may offer automatic transfers and automatic bill payment. All of these tools are useful in helping you manage your money and avoid fees.

Money Tip #4: Wealth Mentor (Your Team)

Managing money tips are an excellent resource for building financial awareness. They provide broad educational benefit to readers. A wealth mentor goes above and beyond providing education and resources specific to your individual needs. Because a wealth mentor is someone who has accomplished what you have set out to achieve, a wealth mentor is an indispensable member in your team of experts.

Have you identified who your wealth mentor could be? Curtis Banks has mentored tons of people on how to build wealth. If building wealth is one of your goals, feel free to book a discovery session to learn more about working with Curtis Banks.

Money Tip #5: Payoff Credit Cards Monthly

Curtis recommends that you pay off your credit cards every month to avoid carrying over a balance. This is an important strategy to avoid paying more and more money on interest. By paying off your credit cards every month you're freeing up money for growth opportunities. Additionally, keep each credit card balance within 25% of their credit limit and do not exceed 25% of your total credit limit. Your utilized credit shows up on your credit report and ultimately affects your credit score.

Money Tip #6: Have Adequate Insurance

Insurance is meant to protect you from financial hardship when pre-defined conditions occur. Insurance is a financial product with a variety of options in the marketplace. There are a variety of insurance products ranging from unemployment to healthcare and beyond to help reimburse you. Be a savvy shopper. Shop around for products that offer you an adequate amount of protection at an optimal price. Revisit your plan periodically to ensure that you're getting the best coverage and the best rates.

Money Tip #7: Buy Cash Producing Assets (Passive Income)

Do you plan to work forever? While the type of assets you purchase to grow your net worth should align with your financial goals, it's important to focus on assets that pay you in addition to growing in value. The benefits of cash producing assets have a snowball effect as you buy more and more. It is possible to replace earned income with income from cash producing assets. This can translate to more freedom to pursue other passions you have. Talk to your team of advisors and make a plan for passive income.

Money Tip #8: Grow Your Network

It's said that we are the sum of our social circle. Growing your network of mentors and mentees aids in the personal development of you and those around you. Don't limit yourself by being an island, look outside your immediate circle and expand on the wealth around you so it can be passed down to the next generation.

Money Tip #9: Leverage Tax Deductions

Working with a credible tax advisor and tax preparer can help you keep more of the money you make. Curtis Banks says that it's important to plan ahead and keep a record of deductible transactions. It's important to note that every tax situation is different. Please consult with your team of experts on how this applies to you and your unique financial goals.

Money Tip #10: Be A Savvy Shopper

Curtis says that being a savvy shopper is an important money management tip. Chances are the thing that you’re interested in purchasing is available at a better price from another seller. Comparing prices can save you money. Finally, be patient when shopping. The things you want to buy will still be there in a few days or weeks if you’re willing to wait for the price to go down.

We hope that you have found this article helpful in your journey to better manage your finances. If you want help from a wealth mentor who understands the challenges of managing money, we invite you to book a free discovery session with Curtis Banks. He is looking forward to meeting with you and helping make it easier for all those who are seeking financial freedom!

by MSE Staff | Published 3 Nov 2021 

It's no secret that saving money is important. Many people struggle to make saving a habit, but it doesn't have to be hard. In this blog post we will discuss 4 financial traits you should break and solutions for how to stop them from affecting how you build wealth.

Financial Habit 1: Money Avoidance

Some people believe that money is bad. If you've ever heard that the love of money is the root of all evil. This is a belief that motivates people to get rid their money by any means necessary! If you or a role model have ever gone through a nightmare experience involving money, it's easy to say money is bad and call it quits. Money can be a very emotional subject for some people, and they avoid handling it as much as possible.

Money Avoidance Example: You work hard to earn an income but never saving any portion of it.

Financial Habit Solution: Money avoidance is a tough habit to break, but it can be done. The first step you need to take is accepting that it is okay for you to have money. Once this idea has been internalized saving and spending will become easier for you. You also should consider how much better the lives of those around you could be if you had more wealth. Think of all the positive things that you could do with your money if you just made a few changes.

Financial Habit 2: Money Status

At some point most people will acknowledge that there is some connection between financial achievement and the value of your possessions. Sadly, this is left up to interpretation where many fall for the rich lifestyle trap. This is a belief where your self-worth is driven by the perceived value of your possessions. You or an influential   role model may have found the social engagement they desire by acquiring expensive things.

Money Status Example: You spend money in order to impress others.

Financial Habit Solution: Money status is a hard habit for many people with low self-esteem to break because they believe that their possessions reflect who they are as a person. Or they may seek out rewarding social interactions that occur after buying expensive things. If you want to stop this financial habit you need to determine your true value and focus on building yourself up rather than buying things to impress others. Look for other ways to achieve those rewarding social interactions that are not harmful. Make a list of ways that you can nurture relationships without buying expensive things.

Financial Trait 3: Money Worship

Some people view money as a fix-all for everything in life. A money worshipper's initial response for missing their daughter's soft-ball game is to throw money at her. They end up using money as a barrier between themselves and the rest of the world. Money worshippers think that money is the answer to every question and use it as a tool for avoiding personal responsibility.

Money Worshipper Example: You spend your life chasing more and more wealth, believing you will finally be happy when you get there.

Financial Trait Solution: How do we break this bad habit? Money worshipers need to see money as a tool rather than an end goal. Money will not solve all of your problems and you can't buy the happiness of those around you. Write down ten ways that you can participate in social and life events without using money to move things along. In what ways do they keep you more connected with the world around you? Look for opportunities to take a break from chasing money, focus on being present, and find happiness in the moment.

Financial Trait 4: Money Vigilance

Being frugal, saving, and keeping hush-hush about your money seems like a great idea until it becomes harmful. Money vigilance can result in missing out on opportunities to invest because of a desire to avoid loss. In its more extreme cases, someone who is overly vigilant can damage their relationships in favor of keeping their money hidden away.

Money Vigilance Example: You hoard your money and avoid taking investment risks or consulting a team of financial advisors.

Financial Trait Solution: First, you need to break free of the fear that has shackled you to your money. You may have witnessed or experienced a traumatic life event that led you down the path of money vigilance. It can be difficult to build trust and confidence in a world of uncertainty. Working with a certified personal finance coach or mentor can be a great first step. You don't have to choose between money and having meaningful relationships. And there are financial opportunities that can suit your risk tolerance, but you have to talk to qualified experts to find them!

Finances are a part of life. However, some people have displayed certain traits that can inhibit them from achieving their financial goals. These four habits include saving money but only for the sake of saving it rather than using it to improve your future, being so focused on status symbols instead of personal development and relationships, viewing money as an all-encompassing solution to life's problems, and hoarding money out of fear. By using these tips, you can break the four habits so that you can build wealth.

by MSE Staff | Published 31 Aug 2021 (Updated 1 Nov 2021)

Many people struggle with the idea of managing their money, and the biggest issue is that they focus on the wrong thing. They think about how to make more money when the answer is really in how you save it. Curtis Banks knows this and has written a book called "The Book on Money Management," which teaches readers how to manage their finances correctly by first addressing the root of the problem, then showing them how to allocate their money for building wealth.

Focus on Saving Money

You can have money saved for opportunities and unexpected life events by learning from "The Book on Money Management". The book first helps you identify the root of what's preventing you from saving. It takes you step-by-step addressing how you think about money and your goals to identify your financial hang ups and motivators. By the time you're halfway through the book, you'll be ready to start allocating your money.

Allocate Your Money For Opportunities

Once the root of the problem is addressed, the book on money management shows you how to allocate your money. It teaches what types of things you should be focusing on, like an opportunity fund or retirement savings account. Once these are established it's easy to start taking steps towards building wealth through smart investing.

Practical and Effective Strategies

Curtis Banks has written this book to help people take control of their finances as they focus on building wealth, instead of just making more money. Get ready to learn how to save, allocate and build your wealth by reading "The Book on Money Management". This is a practical guide that provides effective advice you can follow today.

"The Book on Money Management"

It doesn't matter how much money you earn if it's not allocated correctly. If you're looking for a way to save more and achieve financial success, "The Book on Money Management" can help. Written by Curtis Banks, the book is designed to be an easy-to-read guide of all things related to saving and building wealth--from understanding your net worth and creating an allocation plan, to investing wisely in stocks or real estate. Order this helpful resource today before supplies run out!

by MSE Staff | Published 22 Aug 2021 (Updated 2 Nov 2021)

Saving money is not always easy. But there are many ideas that can help you save more and have a better financial future. Learn about 10 financial rules to live by, ideas on how to save money, and ideas for making your savings grow faster in this Money Smart list!

Have a Plan for Your Money

What is your life plan? Do you know what you want to be doing 1 year from now? How about 5 years and even 10 years from now? You have expectations for your life, so it makes sense to have expectations for your money. This is because your money supports the things you expect to do and have in life. Do you plan on paying off your mortgage in 3 years? Your money supports your life goals. Do you plan on continuing your education next year? Your money supports your continued education. Do you plan to eat today? Your money supports your ability to live. Your ability to plan out your finances is integral to your life plan. Make your plans detailed. What do you want and where are you going?

Planning out your finances is not easy. It takes a lot of work, but it pays off in the end! If things change, make sure to update your plan accordingly. You can't go wrong with an updated financial plan that accurately reflects what's happening in life. Make adjustments as needed!

Pay yourself first

Where does your after-tax money go? Curtis Banks teaches the Money Smart Allocation system because it forces you to stop throwing your money out on expenses and start allocating your money on assets. It's so simple that most people will fight it at first. Limit expenses to 45% of your income and focus a minimum of 55% of your income on growing your net worth! When you put your income to work growing your net worth, you pay yourself first. Your future self will thank you for it!

Participate in Financial Education Programs

What are your ideas on how to save money? There's a chance that the ideas your co-workers have might not work for you. This is why participating in financial education programs can help with finding better ideas and strategies that suit your needs as an individual. It never hurts to learn more about money so find out what kind of financial classes or workshops may be available near you! Financial literacy, knowledge, and awareness are important skills when it comes to personal finances. You should always take advantage of any opportunity needed to improve yourself and understanding of finance. With increased knowledge comes responsibility for using this information accordingly - use these concepts wisely!

Curtis Banks teaches and mentors on how to save money, how to systematically manage your money to grow your net worth, and how to retire abundantly and stay retired in Money Smart Transformation. It's a three-step program that includes learning, implementation, and mentoring so that you can take control of your finances. If you'd like to learn more about the program schedule a discovery call with Curtis Banks today. https://www.scheduleyou.in/mVrdFy

Take Advantage of Coupons, Discounts, and Sales When Possible

It's always a good idea to use coupons, discounts, and deals when you can. Do your research before purchasing anything because often times the best deal is not what it seems! Don't pay full price - there are plenty of ways to save. Coupons, discount codes or offers for free shipping from favorite stores like amazon prime have saved me time and money in my life.

Create a Habit of Saving Your Money and Keeping It

You can automate your money into a savings account, but you have to learn to not spend it for unintended purposes. Make a habit of saving your money and keeping it. Don't spend it for things you didn't plan on because many times emergencies happen out of the blue! Create an emergency fund that grows - this will be important in case something unexpected comes up like car repair, doctor's appointment, or even just needing to replace lost items.

Automate Contributions to Your Retirement

Take the necessary steps to ensure that your quality of life is abundant when you retire. Direct a portion of your income today to secure your livelihood in retirement. You can automatically contribute to your retirement by setting up an automatic withdrawal from a checking or savings account. The best thing you can do for yourself is start saving. The early you start, the easier it will be for you!

Avoid living below your means

It’s important to keep your expenses down but there is a point where you can become too frugal. For example, sleeping on a friend's couch to avoid paying higher living expenses can be an extreme way to save money. However, it's not a long-term solution for saving money. Living below your means can create discomfort and friction in different areas of your life. It can even make relationships with others difficult. Make sure that you're living within your means and not below your means.

Avoid living above your means

Living comfortably is important but it should never cause cash flow problems. You should maintain a healthy cash flow each month. If you're cash flow is running in the negative, it means that you have more money going out than you have coming in. That's a sign that you are living above your means. Pay attention to your cash flow and make sure that you're living within your means.

Create an Emergency Fund That Grows

Make sure your emergency fund is keeping up with inflation. An emergency fund is a safety net for you, your family and your home. Create an emergency fund that grows so that it'll be there to help in case of emergencies like car repair or doctor's appointments. It's also important to make sure that your emergency fund matches with inflation. Living expenses were far less in the 1960s than they are today. The costs of goods have increased dramatically. Keeping up with inflation will ensure that the money stays valuable just in case you have to use this account when you need it.

Grow your net worth

Understanding how much wealth we're building each month and year is important when it comes to our financial well-being! You should take stock on what you are doing financially monthly, quarterly, and annually by reviewing the numbers and viewing where exactly your money goes - if it isn't going towards assets then adjustments need to happen. Increase understanding by tracking monthly expenses, income, savings goals, debt payoff progress, assets, liabilities, investments, and net worth.

The 10 financial rules to live by and the ideas on how to save money are not always easy, but they will help you have a better future. What do you need? I’m here for you with free resources like Curtis' Top 10 Money Smart Strategies that can make your savings grow faster. Let's work together towards a smarter financial future! Request a free copy of this list during a free wealth discovery session.

by MSE Staff | Published 18 Aug 2021 (Updated 2 Nov 2021)

Having a healthy credit score is important because it can affect so many things in your life. It determines whether or not you qualify for certain loans, the interest rates you will pay on those loans, and what types of insurance coverage are available to you if any at all.

A credit card is a tool that can be used to increase your net worth over time. When strategically managed, they are an effective way of building long term wealth through increased spending power and use of rewards points for things you would have bought anyway.

If you carry balances from month to month with no intentions of paying off the balance at any point during the duration, then your creditworthiness will be harmed, and future loans may not be granted.

Improving your credit can also make you eligible for a number of different types of rewards programs. Common rewards include cash back, points and miles. With cash back there is the potential to get a percentage of money refunded when purchasing with your card- which could be helpful if you need to leverage all available funds on it at any given time! Points reward give users points that they may then exchange for tangible benefits like plane tickets or hotel stays while Miles Rewards earn discounts on travel costs altogether- making them an excellent option in comparison!

With a little strategy and responsibility, it is possible to strategically grow your net worth by leveraging credit. Think property investments or business investments that will pay you back more than the interest on what was borrowed. This can be similar as saving money in many ways!

Credit cards are often used for convenience, but they do have some drawbacks such as high-interest rates when compared with other forms of borrowing like mortgages and car loans which may come at better terms if you're seeking cash rather than using them to build up assets over time - think property investments or investing in businesses whose returns exceed even ongoing expenses like monthly interest charges from a card balance

If you’ve ever taken advantage of 0% interest introductory offers to pay off your principal balance, then it's not surprising that this is a great strategy. These deals are one way credit can help us save money over time as we reduce the cost of borrowing money with these types of opportunities.

Credit cards can be a tool to help you build long term wealth if used strategically. They are an effective way of increasing your net worth over time through increased spending power and the use of rewards points for things you would have bought anyway. If this sounds like something that might work for you, check out Curtis’ free e-book “Money That Grows”! It’s full of solid advice on growing net worth.

by MSE Staff | Published 16 Aug 2021 (Updated 2 Nov 2021)

Financial success is not easy, and there are a few steps that you can take which will lead towards making more money and becoming wealthier in the long-term. One of those first steps? Building credit! It sounds simple but it's actually tricky because we're all so busy these days juggling work, friends, family -not to mention finances. But with strategies for increasing net worth using credit cards (which could make things easier) people may be able to get on the road to wealth much faster than they thought possible before.

Retirement Contributions by the Numbers

Credit card companies are getting more and more aggressive in their marketing tactics. The minimum monthly payment is the lowest amount a customer can pay on their revolving credit account per month to remain in good standing with the company, but many people who only make this bare minimum will end up paying higher interest expenses than those who put down a little extra each month. With all of these new gimmicks from banks like 0% interest for 6 months, it's hard not to get sucked into an enticing offer or two--but always be mindful that making just the minimum due may lead you deeper into debt faster.

An APR is the annual rate of interest you can expect to pay as a borrower. Fees are additional costs that you agree to pay in exchange for access to credit and other services such as withdraw, late payments on your card, or maintenance fees.

What Are the Benefits of Making Overpayments?

Making overpayments is a great way to get out of debt faster, but there are risks involved. If you don't make at least the minimum payment each month, then your credit rating will be damaged when that information gets reported as missed payments and late fees!

When you make an overpayment, a sense of accomplishment and pride comes with that. You'll feel better about the direction your finances are moving as well as have less stress in your life! Not to mention increased motivation for taking more proactive steps in not only financial aspects but other parts of life too.

The Difference Between Minimum Payments and Overpayments

Believe it or not, your credit card issuer is keeping track of whether you make a minimum payment or an overpayment. Minimum payments are a strong indicator that you're going to have trouble paying down your credit card and making them means you’re giving away your money! That’s money that could be invested instead in opportunities with higher returns. Conversely, when you do the right thing by opting for an overpayment on balance owed each month; this reduces the amount accrued from interest which can then lead into more savings!

You Deserve a Healthy Relationship with Your Money

Knowing how to use your credit cards wisely can help you increase your net worth. The first step is understanding the difference between a minimum payment and an overpayment on a credit card, as well as what APR means for each of these terms. Once you know this information, Curtis has some tips that may be helpful in helping you do more with less when it comes to managing your finances. If any of this sounds confusing or overwhelming, schedule a discovery call today so we can walk through everything in detail together! You deserve healthy relationships not just with people but also with yourself and money too!