Friday, November 22, 2019

Trudy's Mult-Angled View of Money. Connect with this CASHercise(TM) Coach.

  • I grew up a Missionary Kid, and I know family finance from that perspective.
  • I served a Christian non-profit in an administrative capacity, and I know ministry finance from that perspective.
  • I have left a poor Third-World country to seek the American dream. I know the immigrant's struggle.
  • I served in corporate America and had to handle a multi-million dollar budget for the two departments I ran. I understand faithful and ethical financial management from that perspective.
  • I served as a church administrator, plus my father and brother are senior Pastors of both small and sizeable congregations, so I know church finances from an inside perspective.
  • I endured a divorce 25 years ago, and survived that financial ruin. So I know personal finances from that perspective.
  • I took care of my grandmother in her final years and administrated her affairs. I know family finances from a Caregiver's perspective.
  • I traded Forex and know the emotional roller coaster ride of that and the 'gambler's mindset'.
  • God buffered my family with abundance before the recession, so I enjoyed finances from a place of abundance perspective.
  • Our family then lost it all during the recession of 2006-2012, and a member of our family had to file for bankruptcy. So I know desperation from that perspective.
  • Then the Lord helped us climb out of that deep negative financial hole after the recession. I know restorative finance and trusting God through the storm perspective.
  • I have many years of serving the families in various churches as a financial literacy table leader and/or Budget Coach. So I have a general overview of family financial situations from that perspective.
  • I helped author a Florida state approved pre marriage course that included the mandatory segment on family finances. So, I understand divorce avoidance over money issues from that perspective.
  • I am building multiple profitable businesses and Coach other Christian entrepreneurs to do the same. So I understand Biblical Finance from a leadership perspective.
  • I hold multiple license and certifications in the financial services industry. So I understand the industry, its limitations and liabilities.
There are too many Christians in line for a handOUT and not enough of us able to offer a hand UP. This needs to change and I share with you what God showed me. Connect with me https://cashercise.gr8.com/

Wednesday, November 20, 2019

7 Hacks to Using Credit Strategically to Build Wealth






As a Christian and an occasional financial literacy table leader for my church, some are

surprised by the fact that I do embrace credit. The fact is, I treat credit the way I would treat fire or a sharp blade. Used correctly, it is an amazing tool. Handled mindlessly, and you have a possible fatality ahead.

Even Jesus recognized that we are IN this world, even if as Christians - we are not considered citizens of this world.

John 17:15-16 “ I do not ask that you take them out of the world, but that you keep them from the evil one.They are not of the world, just as I am not of the world.”

To function in this world today, especially in the USA, ignoring credit or becoming ‘credit invisible’ will make prosperity and wealth more challenging to grasp and enjoy.

Impossible? No! But, why dig a trench with your hands when a shovel or backhoe would do a better job?


Caveat #1: The content presented here is for educational purposes and to raise awareness and should not be considered legal or financial advice.


Caveat #2: Check the banks you hold credit cards with. Especially some secured credit cards are locked to the limit of your secured deposit with no room for expansion or interest rate change no matter how good your payment behavior. If you have any of those, upgrade to the more flexible options as soon as you establish an improvement in your credit score.


Caveat #3: 5 of the 7 hacks mentioned are open to small business owners only.


Hack #1: This Credit Utilization Strategy May Increase Credit Limit


This single strategy has earned diligent followers the gift of unrequested, credit limit increase repeatedly through the life of the card. I have personally enjoyed this and so has my clients. I have noticed that banks seem especially willing to reward you with unsolicited higher spending limits during the Christmas holidays.

When the limit is increased, so is the 30% spending threshold. For example; if you have a $1000 credit limit and you keep your balance at or below $300, if the bank increases your credit limit to $5000, you can now spend $1500 or less and still be maintaining a 30% or less credit utilization.

Having access to more funds to spend, while maintaining a healthy credit utilization is my favorite wealth expansion hack and worthy of the #1 spot.


Hack #2: Have Your Cake and Eat it Too! The Recycle Money Strategy


Got paid? Other than the funds for car and mortgage payment, or anything that won’t take credit as a form of payment, send the rest of your paycheck to pay down your debt. Then, use the newly reloaded credit card to buy stuff. I explain this strategy in more detail in my Best Seller book, CASHercise. This hack ensures you pay more than the required credit card payment minimum and you look like a #CreditBoss to the credit card company. Yep! You guessed it! The recycle strategy tends to make you seem worthy of credit limit extensions, which loops you back into Hack #1.

OK, so the following hacks are limited to business owners, but I am sure a bunch of you reading this are, or eventually will be. So if you are not a business owner (or one yet), enjoy hacks #1 and #2, or be inspired to start a business and use these next hacks to help you build more wealth.


Hack #3: Build a Business Credit Profile


Trust me. The effort is worth it. Most entrepreneurs and startups use personal credit and loans from family and friends to fund their new business adventure. The first 5 years are the most investment intensive years and profitability is rare, so rare, the SBA says 50% of startups fail in this timeline. This is because of the availability of urgent funding to ride this cash-intensive time dries up really quickly. Personal credit tanks and the ability to continue cash flowing your business grinds to a halt.

UNLESS…
You make the effort to build business credit.

It does take time and you do often start your business credit profile on the shoulder of your personal credit, but eventually - your FEIN will replace all needs to enter your SS# as your business develops that financial persona that it already legally holds.

Banks tend to offer higher credit limits to businesses even though the same owner would have either been denied or offered significantly fewer limits on the personal credit side. I teach this process and show you how to get started here. If you have $5K-$10K to throw at this process, I also have a resource to help you build a business credit profile that opens up $50K, $100K and more in credit lines in a 6 month to one year window (results not guaranteed but very doable).

One of the benefits of business ownership is the corporate veil. That veil protects our home and private assets should the company fail. However, buying things with personal funds for the business or using business funds for personal assets pierces the corporate veil and exposes your family to corporate lawsuits. Building business credit and using business credit for credit purchases for your business is wiser than continuing to use personal funds and exposing your family to future lawsuits and losses.


Hack #4: Apply for credit where you shop most

So this may be a Duhhhh! I already knew that concept - but for the record, I mean apply for business credit where you shop most. This is where guidance is useful. Not knowing the minimum criteria your supplier is looking for to offer credit may have you applying to a sure rejection. However, clearly - if where your business shops most offer you credit, you just freed up your cash flow and can restock your inventory and have more opportunities for increased sales.


Hack #5: Offer credit to your customers and report them if they don’t pay as agreed


This is a sweet tip that honestly, you should be paying me for. However, I am banking on your ability to see I give value whenever you connect with me - even remotely, and for free - that a seed is planted for you to connect with me when you do need the services I offer.

How many more sales could you make if you offer credit to your clients? Now, before you worry that they will not pay you if you set your business up to report their payment history, there is a good chance they will stick closely to the agreement. If you connect with me, I can help you decide if this option is a fit for your business, and how to go about setting that up.



Hack #6: Use credit to track taxable write-offs


So this is more of time is money hack. If you save time, you save money.

We all know that having a business gives us the opportunity to acquire business supplies and write many of those off annually. Where most of us get in trouble is, data tracking and proving our expenses. While your new business is growing, the owner and their handful of supporting helpers wear many hats and often, things fall through the cracks.

If you use a company credit card to purchase company-related expenses, your data and record-keeping for write-offs is much easier at tax time. No more shoeboxes of thermal paper fading receipts that you need to manually enter. Maximize your write-offs by having your business credit keep track of business expenses for you.

The fact that the expense is on the business card also makes it a business expense, especially if you use hack # 6 with hack #7.



Hack #7: Increase your business perks before you give yourself a raise


So, we have all heard that President Trump only takes a $1 paycheck. In fact, this is not new - many Corporate Executives appear broke on paper or take a $1 paycheck while living an obviously luxurious lifestyle.

This is a hack of enjoying company perks on the company’s dime.

Need a new car? Before you buy one with personal credit and funds, let the business buy it and drive a company-funded car. You have the car, but your personal assets would say you own none. I am no lawyer, so be sure to check with your lawyer here because if you ever file for divorce, your soon to be Ex could claim you pierced the corporate veil if you do not do this hack right. Before you give yourself an income raise and increase your personal tax bracket, if you are the business owner, consider adding corporate lifestyle perks first.

You will not be the first business to own a vacation cottage, boat or other lifestyle perks that you get to enjoy without the personal cost or liability.

Just a reminder, you can buy nicer things for less money with excellent credit! For example, one of my clients pays more for her used Kia than my son pays for his BMW. If you are ready to put your financial house in order and build your business credit, connect with me. As I mentioned, initially, your personal credit will be scrutinized as you start to build your business credit profile and we can help you with that as well.

Prosperity is not entitled but it is within reach. Profitable stewardship creates debt-free wealth.m

Saturday, September 14, 2019

The Widow's 2 Mites & Why Benny Hinn is Recanting his stance on the 'Prosperity Gospel'.

There are too many good Christians in line for a handOUT instead of being in a position to offer a hand UP. This needs to change, and I have partnered with God to do my part to help change that.

Christians & Money...
 
Benny Hinn is a well-known 'Prosperity Gospel' Preacher
Over the years he has shouted to the in-house and online congregation to 'send a seed of $1000 or more and the Lord will reward you 110 fold' (paraphrased). Now, in his late 60's, Benny Hinn is spending his time recanting this doctrine. Please see more in this 9-12-2019  article published in Christian Today.

This 'name it and claim it' 'Prosperity Gospel' has enough truth in it to 'fool the elect, if possible'; but it flies in the face of Jesus's encounter with the widow who cast her two mites into the offering plate. She did not have $1000 to seed her fantastic future, but some in the audience did - and here is what Jesus said in Mark 12:41-44, "And he called his disciples to him and said to them, “Truly, I say to you, this poor widow has put in more than all those who are contributing to the offering box. For they all contributed out of their abundance, but she out of her poverty"

The problem I had with this camp is the focus was on sending money to these Preachers as the way to cast 'seed'. The following promise of the harvest was for doing as they asked. I do believe that anything I ask in the name of Jesus, believing it - I can have it. That is NOT the same as sending money to a specific preacher of a specific amount and expecting a direct correlation between that giving experience and the returns promised.

I believe the Lord will prompt seed giving and you will feel that urge to give in your heart and it may be to a random person, to your family member, and yes - maybe to your Pastor. However, that prompting is Holy Spirit driven, not pulpit shouted.

I also have said repeatedly that prosperity is NOT entitled (a key component of the 'Prosperity Gospel' movement). However, I do advocate that prosperity IS within reach. We need to position ourselves for God's favor by being in His will for our lives, tithing, and work! Yes! I said that horrid four-letter word, W-O-R-K.

Work and planting seed go hand in hand. The Bible's favorite analogy is the Farmer, the talk of weeds, the God-controlled aspect after planting (weather, etc) and then the fact that a harvest can be 30, 60, 100 fold when the seed falls on good soil.

I have worked hard to differentiate myself from the 'Prosperity Gospel' bunch. I am so glad that Benny Hinn has heard the Holy Spirit's correction and has become obedient to the re-direction of his audience.
Watch the Christians & Money Channel on your Roku or Amazon Fire TV.
Optional: Rather than channel search, you can share easily via a link, 

Because prosperity is not entitled, 
but it is within reach.
 
 




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Why 'Snuggle with your Trouble'?
Why 'Protect your Problems'? 

We know some of you would rather play incognito; observing without taking action.  However, whatever your current money situation, it is an OUTCOME of your thinking and actions. If you don't like the fruit don't blame the fruit, blame the seed. Maybe it is time to plant some new ones?   

Wednesday, March 13, 2019

Stop the Money Bleed! The Sharks are Nearby.

Spend Spend Spend all day
Spend it all away...
Merrily, Merrily, Merrily, Merrily...
Money goes away.
  • OMG! Those shoes are SO Cute!
  • WHAAAT? That purse is on SALE? I gotta have it.
  • I need a dress for that party. I have a closet full of nothing to wear.
  • That top is so last year! Get this one.
  • I need that man toy - I mean, tool.
  • If he loved me, he would get me that $5K ring.
  • That bigger one would make all my friends jealous, so that is the one I need.
  • I don't want that lame-o Toyota! I am getting me a BMW.
Duh Nuh!
Duh Nuh!
Duh Nuh Duh Nuh Duh Nuh Duh Nu!


When you are in spending frenzy - do not be surprised if Facebook, Google, and Instagram seem to show you all you have been craving. Suddenly, every sale will beckon to you. It is as if (sharks) sellers can smell your money and they have come to take it.

Impulse, perishable, and depreciating purchases deplete wealth potential. Yet - we do it all the time then cry "BROKE!"

Living above your means is never wise and until we absorb this beyond just intellectual information, things will change. Change for the worse.


Budgeting is an important life skill and budgeting will show you exactly how much money is assigned to each planned purchase you intend to make.

Most people I have met hate to budget even when they know they should and wish they would. I realized that the word budget, just even saying it - creates the feeling of imprisonment. Working within a contained limit. It truly is a pathetic word for the effort made.

That is why I choose to refer to this experience as a SPENDING PLAN!

Don't Budget! Plan Your Spend.

I offer a FREE Budgeting to Improve Your Credit Score, course. This is a spending plan that is a distant cousin to the traditional budget. The course I am offering you teaches a budgeting strategy that also positively impacts your credit score.

Interested? Click HERE

Tuesday, February 12, 2019

10 Tips So Florida Residents Can Delete Debt Fast

This is a blog series.  Read Part 1 of this post HERE

7 Easy Actions Florida Residents Can Use to Delete Debt Fast


Grim statistics tell the facts. Florida residents are deep in debt by the millions. I may just have your solution - IF, in addition to the state laws and legal options, you are also willing to receive Biblical insights and encouragement.

Want it or Not - Florida Residents Need a Money Fixer Upper NOW! Pt.2


YIKES!



Where do you stack up against the average?

$5,700 is relatively easy to pay off. The thing to remember is - this is an AVERAGE! There are some who are tracking in at $50K+ in debt, and some in these statistics with $100 in debt. The higher your debt, the harder and longer it will take to pay down, but if this is your goal - read on.

7 Easy Debt Deleting Strategies

1. Dana, one of my former clients who did a workshop with me to save her $1000 Emergency Cash Stash found $100 in coins to start her saving account. You can too. 
Go through every purse, jeans pocket, the sofa cushions, your kid's toy bins, and so on and collect all the coins you find. Some banks have a coin for cash exchange machine. Wells Fargo, where I bank asks that I bring the coins in already rolled - but they will accept coins. I found coin sleeves in my local Dollar Store. However, there are coins for cash exchange that will, for a small fee, give you paper bills in exchange for your coins. 

2. As you collect change from spending activities, add them to a jar and when the jar is full, exchange that for paper bills as well. The bigger the bill the bigger the emotional charge to break it on trivial expenses, so go for the Benjamins.

3. Sell the extras - and trust me, you have extras. My daughter regularly sells her one-time worn, 
'I- will-never- be- seen- in- this- outfit- again', on Offer Up, etc.

4. Do odd jobs for the elderly for cash. So many would be grateful to pay $25/hour for a handful of chores. Let them know you are available and give them one hour of your time to take the trash to the curb, walk their dogs, change a light bulb, etc.

5. If you have a BA Degree, teach Chinese Kids to speak English. VIP Kid pays $20-22/hour and the hours are 4am-9am EST and you pick your slots and frequency of teaching time so it is easy to head on to work after. If you want to check this opportunity out, click HERE then enter referral code TRUDY0007. I make $400/month because my goal is to earn my car payment + gas $. However, my friend who shared this opportunity with me earned $2186 for the month of February 2019. How much you make yourself available to teach is totally up to you.

6. Take this twist on a storage cleanout - yours, or offer to do a friend/relative's garage/storage with the agreement that anything they no longer want is yours (so even if they do not pay you to do the job, still make the offer). Then, offer these things for sale. I had a client do this for her mom. She sanded down an old dresser and painted it. She also took photos and wrote quick descriptions of books etc. Then, she posted all these for sale online/garage sale.

7. Do the 1-week, no grocery/no eat-out challenge. Save all your grocery money for that week. During this time, try to get invites to friends & family. Find new and creative ways to use up what is already in your house.

If you think you may do one, or all of these, please be sure to comment below and let me know which you will try first. Let's get Debt FREE!

Why not check out my Amazon BEST SELLER CASHercise(TM). How to Be Debt Free, Outrageously Profitable & Joyfully Generous.


Want It Or Not... YOU NEED THIS! Florida Residents Money Fixer Upper Solution.

Grim statistics tell the facts. Florida residents are deep in debt by the millions. I may just have your solution - IF, in addition to the state laws and legal options, you are also willing to receive Biblical insights and encouragement.

Want it or Not - Florida Residents Need a Money Fixer Upper NOW!


YIKES!

There is a very high possibility that your credit report has errors on it and that is not legal for that to happen - but it does! 79% of the time.

The Florida state law says:"
Incomplete, inaccurate, and outdated negative information does not belong on your credit report - any of them!
I would bet that if you looked at all 3 bureaus right now and went through your report, line by line there would be at least one notation that is inaccurate, outdated, or incomplete.

What you also may not realize is - these kinds of data negatively impact the score they tell you, which in turn impacts your financial options.

ARE YOU FURIOUS YET? 

I am!

I have your fixer-upper for this!

Curious? Connect with me for more info. Book a FREE Discovery Call here. Put your wallets away - this is just a peek-a-boo chat to see if your situation needs my solution or not. No Biggie! No Commitment.

As for the other pieces of this crazy statistics, I will address those in upcoming blogs. Stay tuned!