Don't you think it's time to get your finances in order?

So…The year is coming to a close and like most people, we are re-evaluating our finances and starting to prepare for 2023. While some of us may have already found ways to make 2023 better, some of us are still trying to create our financial goals for 2023. 
In this series, we are going to talk about checking your credit and debt health so you can move into 2023 with a plan or start working on your goals to become credit-worthy or into debt cleanliness.

Assessing your Credit Health

One of the main things we would like to do before the year is out or at the beginning of the new year is assess our credit health. We should always want to identify how our credit profile looks to others and take the necessary steps to make it more appealing to creditors (especially if you are planning a big purchase in the near future). Here are a few steps you should take while assessing your current credit profile. 

1. You should get a copy of your Free Credit Report. You can obtain a copy of your free credit report through https://www.annualcreditreport.com/ it will show your current credit profile. Now, once you've reviewed your profile if it seems as though some work is required, it's strongly encouraged that you then purchase your credit report with scores from a reputable company such as Privacy Guard (www.privacy guard.com). With this subscription, you can take a deeper dive into your credit profile and begin to work on accounts that may be affecting your credit profile in a negative manner. Want to know what to look for once you’ve obtained your credit report? Sign up today for our Credit Health Checklist. 

2. Be Ready for the unexpected. Once you’ve reviewed your credit report, you may see things on there that you’ve never seen before or never knew existed. Don’t worry or fret. Jot down all accounts or information that you do not recognize so that you can dispute them in the future. 

3. Start Saving. There may be some accounts that you have on your profile that will require your attention. Start putting money aside to address these debts. One thing that Creditors look for is your ability to address the debt. While most people look at a closed derogatory debt as something to not be bothered with because it will not impact your scores, Creditors look at those differently. A PAID closed collection looks much better to a creditor than an open collection because it shows that you are making an effort to be responsible and address your credit debt. Start setting money aside to address these debts. 

Now onto debt. This can be a very touchy subject but let's not forget that credit and debt go hand in hand. Because of the pandemic, lots of people have fallen short in their obligations to address their debts and unfortunately created some more debt along the way. The good news is that the pandemic is almost behind us so now is a good time to address any outstanding debts! Let us evaluate what you should look for while reviewing your debt.

1. Current Status. How far in debt are you? Can you afford to make the necessary changes to address your debt? As you evaluate these things, know one thing is for sure- there is no fast fix to addressing debt. Set realistic goals to address your debt and remember there is no sprint to the finish line- Give yourself some grace!

2. How much debt do you have? Do you have a lot of debt? Or a small amount? Based on your answer you can then assess how long it will take you to address the debt. Of course, this will be one determining factor (with disposable funds being the next) but it is good to know what you are working with, along with its timeframe.

3. Long-term vs. Short-term debt. Debts such as a home would be considered long-term debt. It has the ability to stretch into 2 or 3 decades. Whereas a car lasts a few years. Know your debt and make an attempt to understand your policies within your scheduled payment plan. If you are looking to minimize the time frame on such debts, look into your finances and you can also assess your creditworthiness in an attempt to minimize interest rates. 

There of course is so much more to managing and maintaining your debt but for now, you can start with these fine nuggets!!!

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The Importance of Money Management for Business Funding

By Bianca Beadle • 17 Apr, 2023
Proper money management is essential for securing business funding. It involves maintaining cash flow, managing business credit, and using the appropriate identification number, such as a business EIN instead of a personal SSN. Effective money management demonstrates financial responsibility, protects personal assets, and creates a professional image for the business, increasing the chances of obtaining funding for business growth and success.

Breaking the Cycle of Poor Credit: How Money and Debt Management Can Help Secure Business Funding

By Bianca Beadle • 15 Feb, 2023
The blog post "Breaking the Cycle of Poor Credit: How Money and Debt Management Can Help Secure Business Funding" delves into the challenges individuals face when seeking business funding, particularly when personal collateral is required. The author shares their experience of sitting in on a business funding zoom meeting and the alarming number of people who were dismissed because they couldn't use their personal credit as collateral. The post highlights the importance of money management, debt management, and cleaning up one's credit as critical factors in securing business funding. Additionally, the post discusses alternative funding options such as crowdfunding, grants, and small business loans. The author also emphasizes how credit, money management, and debt management all correlate with each other and provide strategies for improving all three areas. The post aims to educate readers on the importance of these topics and encourage them to take the necessary steps to secure funding for their business.

Gear up for 2023

By Bianca Beadle • 01 Nov, 2022
Man, what a year! Can I say I am ready for 2023??? This year has been very challenging and after much thought and deliberation, I came up with one realization; I need to get my ish together. With that being said, I started planning out things that I am going to do to ensure that I am placing myself in a position to be the best version of me for 2023. Because my life is so extra, I have had to break it down into categories. I know I am not the only person that needs a revamp, so I thought I’d share my journey with you! Maybe the things that I do will help someone or give you the inspiration to do something for yourself! So, here it goes… Today we are going to tackle my personal and general household mess…lol. So recently I’ve had a set of twins and honestly, my entire world has been turned upside down! I feel as if I am behind the rat race. I am being transparent when I say that I feel as though my entire house feels as though it is in shambles so, this is my honest attempt to make some adjustments in hopes that I can create some peace within myself and my home. So, let’s start with the personal areas I would like to tackle: Mental and Emotional Health. Being a mother of 6, one of the things I want to make sure and remember is that I need to take time for myself and not always thinking of only doing things for others. With the help of a plan I’ve developed, I’ll be able to concentrate on completing three things for my mental health each month. Some of the options that I’ve come up with for this are writing what I am grateful for daily, finding time throughout my day to meditate and track having no negative thoughts or self-talk for 7 days. Additionally, reflect on what went wrong in 2022 and think of ways to make a change for 2023. Last but not least, practice more self-love; maybe read some self-help books and take a mental health day at least once a month. Physical Health. So, with a set of newborns on my hands, I’ve had little time for this department, I went from running or walking 4 miles a day to barely making 500 steps. But beyond that, I have other things I need to work on. Because I am so out of whack, I have a few options I would like to get back in gear for 2023. We all know that healthy disciplined habits start with food so preparing healthier snacks and eating more healthier well-proportioned meals will be my very first bridge to cross. My next to-do will be to get enough sleep. Now my boys sleep very well usually from 8pm to 3am the following morning, then from 4am to at least 6 or 7. However I’m always up doing something or the other instead of taking my already exhausted butt to bed. Moving forward I would definitely try to get at least 6 hours of sleep a night. Other things to work on are walking at least 6000 steps a day, minimizing bad eating habits, set goals for losing some of this baby weight and continuing to drink plenty of water. Educational Health. I ’ve long wanted to go back to school for something and finally, I’ve made up my mind. Take the time to find a paid or free course that speaks to you; that makes you a better you. Looking to change your career? Find a course that is offered for free that tells/showcases what your new employment opportunity is. These are the ones I would like to tackle in the next few months but of course there are other lifestyle goals that we can try to tackle such as environmental, career, relationships, financial and hobbies and fun goals. Which one stands out to you as an area that you’d like to improve? Now the next hurdle to cross is my household. It may have the smallest section in this post, but I promise you, it is the most extensive of the 2 points we’re discussing today. Whether you have 1 child or 8, cleaning is something that is never over. So, you must know that it is seriously an impossible feat trying to keep a house clean and well put together with 6 kids. As the months went by, I realized that some deep cleaning is required. Before the year is up, there are a few things I would like to get done. Some of my to-dos include purging rooms, deep cleaning and keeping up and maintaining our home after all of the hard work is done! Now my OCD won’t let me be great, so every major to-do needs to be written down, accounted for and checked off a list. My plan is to tackle each room at a time until I get everything cleaned and put together to my specifications. I've created this printable to make sure I do everything I need to do in each room and stay focused. If anything needs to be purchased, a list will be created to host all of my items for purchase. I am sharing this printable with you and hopefully it can help you get organized before the new year as well! With that being said, please comment below and tell me what you are going to go for yourself personally and also what are you going to do to get your home in order all before the new year begins. In the meantime, are you prepared for Credit and Debt, the next topic in our series? Keep an eye and ear out!!!

Setting Goals and Crushing Them

By Bianca Beadle • 15 Oct, 2022
As we move into the month of October, we realize that the only way we can get things done is by setting goals and making an honest attempt to crush them! While you're probably still trying to find work and life balance, we figured we'd share some business goals to help you crush the remainder of this month, (leaving you more life to live, for the upcoming holidays.) Sssssoooo..... Let's Go!!! 1. Get a new certification. Have a new course you are dying to complete? Have a class that can help you propel your business or allow for you to be able to explain things better to customers? Start taking that class in the month of October and hopefully you can complete it before the year is over! Good luck! 2. Hire workers. Is your business going through a transition? Do you need more help in the office, or due to the increase in business? If so, here is your chance to hire your desired help. Take time to seek out help that suits the needs of your business while also staying within any budget that you may have created for such assistance. 3. Complete open tasks/assignments/ projects. Do you have open projects, tasks or assignments that you have not completed for clients? Can you complete them before the end of the month? Now is your chance to put your best foot forward! Try your very best to complete any open work before the end of the month. The end goal is to close as many open accounts as possible before the end of the year and with only a few months left to go, this is a great time to shoot for the stars and close as many accounts as you can. Remember, work efficiently to continue to maintain the integrity of your work standards! 4. Network. Want to connect with more people within your niche? Try to make an effort to attend events that support businesss networking. Whether a social mixer, a pop-up shop or even a meeting at your Chamber of Commerce, find ways to link and conect with other business minded people like yourself! You'd never know what you can learn from them; or them from you! 5. Increase your presence on Social Media. How is your following on social media? Are you engaging with your audience? Try creating a reel or a story or just a simple post! Want to get more followers or advertise an ad you are promoting? Try their marketing options through the social media ad sections. Of course, there are other goals that you can try such as: - Email Marketing Goals - Sales Goals - Engagement Goals - Financial Goals - Growth Goals - Marketing Goals - Time Management Goals - Productivity Goals What goals are you setting for the month of October?

Are you ready for 2020-21 tax season?

06 Dec, 2020
Here is what you should look for to file for 2020: If you received unemployment: you will be issued a Form 1099-G from your State Government. Like a W2, it should be received before January 31st. It will include all earning and taxes withheld, if any, for the unemployment received in 2020. If you pulled funds from your Retirement: you will be issued a Form 1099-R from your Retirement Company, also like a W2, it should be received by January 31st. It will include all funds withdrawn throughout the 2020 year, and any taxes withheld. Helpful Tip... when receiving unemployment always have taxes withheld, when possible. It's not too late to make the change to have taxes withheld and it will help reduce how much you may owe. Need to Know... if you withdraw from your retirement early, you can't avoid the early withdrawal penalty, even if you have more taxes withheld. This will help with how much you may owe in taxes, but the penalties are calculated during the filing of your taxes, so only have the minimum amount of tax withheld and save some of your funds, if possible, in case you owe.

MY INTRO TO CREATING A BUDGET: PHASE 1

04 Dec, 2019
Honestly, I know everyone has their very own interpretation of budgeting and here I am having my own! Because of my past struggles with finances, I've become very inept at getting rid of debt. Every time I've found myself in a financial pickle, I've realized that it was in part of me losing sight of my budget and me just winging it! I find that things spiral out of control when I don't monitor my budget closely. While I follow the general rules of budgeting, I've created my very own system of budgeting that seems to work for me and honestly keeps me sane. Most that know me, know that I am very old school; I love me some pen to paper! It's something about writing things down that makes it all seem so permanent. For creating my household budget I use the following: My Happy Planner Dated Yearly Planner My Happy Planner Budget Extension Pack A Lil Washi Tape A Few Stickers Pens, pencils and highlighters Double Sided pocket folders My Happy Planner: I've found that this planner keeps me most sane because honestly, the decorating option that this planner offers, is my life save! However, you can go with whatever is best suitable to you!
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