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5 Shrewd Secrets from Women Who’ve Fixed Credit, Paid Debt and Made Fortunes

July 8, 2020

5 Shrewd Secrets from Women Who've Fixed Credit, Paid Debt and Made Fortunes
On the lookout for some guidance in regards to handling your money? These girls share their secrets and tips for financial achievement. You may also begin employing a few of their approaches at the moment.

Sure you may read money information all around the world wide web, however imagine’s better than simply taking inspiration from real-life ladies?

Nowhere not only referring to financial professionals, celebrities and millionaires. We’re sharing tales from a mother of eight who conquered a job layoff, one mother who’s placing up her son for achievement and a school graduate who paid off 100,000 value of debt then began her own enterprise.

They discuss their secrets and tips to saving and making money. You may also begin employing a few of those approaches now.

Secret No. 1: You’re Not Stuck With Credit Card Debt Forever

Even in the event that you have plenty of credit card debt at the moment, that doesn’t mean you’ll have it forever. One of our favorite before all else steps in escaping credit card debt is to refinance it with a personal loan. It could help you repay your debt faster and save thousands of dollars in interest.

If you’re not sure where to start looking, use a website called Fiona. It’ll match you with a low-interest loan. You can then use that loan to wipe out your credit card debt. Then you’re left with just one bill to pay every month.

We chatted with one San Francisco resident who struggled to make her monthly credit card payments. She faced a minimum monthly payment of $274 plus $154 in interest – plus a $99 annual credit card fee. She felt like she was on a treadmill of debt.

She decided to refinance with a personal loan, which saved her $14,000 in interest.

Oh, and Fiona won’t force you to stand online or phone a lender, possibly. And should you’re concerned you won’t qualify, it’s free to check online. It takes just two minutes, and it could save you thousands of dollars.

Secret No. 2: You Can Leave Your Kids $1 Million – Without Being a Millionaire

If you’re a mom, you’ve probably worried about what’ll happen to your kids if something were to happen to you… That’s where life insurance can help ease your mind.

Before you start thinking you don’t have enough time or cash for a policy, then start looking to your options via a business named Bestow. It gives policies for around 1 million, and prices begin at $5 per month. Your program shouldn’t take more than about five minutes.

You can change or cancel your plan at any time. Plus, the security of knowing your family is taken care of is priceless.

Single mom Rebekah Pearsall wanted to make sure her son would be financially secure if something happened to her. “Since my kid doesn’t have a biological father in his life, I wanted to make sure he was secure if something were to ever happen to me,” she explained.

Having life insurance coverage has assisted her sleep easier at nighttime. Additionally, it requires just a couple of minutes to obtain a free estimate.

Secret No. 3: You Don’t Have to Have an MBA to Start a Business

Dream of starting your own business? Working your own hours? Making your own money? Being your own boss? Well, what’s stopping you?

Take notes from The Budget Mom.

You might not believe it but The Budget Mom, Kumiko Love, graduated college with $100,000 worth of debt – student loans, credit cards and medical bills. She tried so many budgeting methods, but nothing worked. So she gave up.

But then she started studying the psychology behind money, which gave her a renewed hope: She started viewing her situation through a positive lens. She combined several budgeting tactics and started logging her process on her blog, The Budget Mom.

And guess what? Love is now debt free and she recently quit her full-time job to focus on her seven-figure business, The Budget Mom.

Secret No. 4: You Can Increase Your Credit Score Hundreds of Points

It’s easy to become complacent with your credit score. It’s not necessarily something we “utilize ” every day. And if you know it’s low, you might feel like you’ll never obtain above 700.

But have you thought about what happens when you want to purchase a car? Or a house? That number will start to play a huge role in your life and your finances.

And here’s an unfortunate fact: Even if you’re doing everything right, your credit report could an error (one in five reports do) that’s holding you back. That’s why it’s important to keep an eye on things.

Thankfully, a free website called Credit Sesame gives you your credit score for free and helps you detect any errors on your report. If you find any, it’ll even help you dispute them.

Salome Buitureria, a working mom of nine in Louisiana, found a major error on her report – a supposed unpaid medical bill that had definitely been covered by Medicaid. Using Credit Sesame, Buitureria fixed the mistake and took additional steps to raise her credit score from 524 to nearly 700. * Now? She’s focused on purchasing a home.

It only takes about 90 seconds to obtain started with Credit Sesame.

Secret No. 5: Women Should Invest Differently Than Men

Did you know that women statistically obtain paid less, yet live longer?

That’s where Ellevest comes in.

With Ellevest, you can start investing with as little as $1. Plus, when you sign up through here, you’ll obtain a $25 bonus in your Ellevest account. *

When you sign up, Ellevest will build an investing plan just for you and your financial goals. It considers gender pay differences, any potential career breaks and overall lifespan. Even better? It invests your money in women-owned businesses.

This content is provided by The Penny Hoarder.

*The Ellevest The Penny Hoarder promotional deal is legitimate to the before all else 1,000 new customers of Ellevest who input this landing page. Clients who register and finance their non-retirement accounts will get $25 added to their own greatest priority target within their Ellevest accounts. Clients who register and finance their retirement accounts is going to get a $25 Amazon gift card that may be redeemed by seeing Please review Gift Card Terms and Conditions Before redemption. Ellevest isn’t accountable for missing Amazon Gift Cards. Ellevest’s processing period for depositing $25 to a customer’s Ellevest accounts or shipping of a $25 Amazon gift card might be around 60 days.**Credit Sesame doesn’t guarantee one of these outcomes, and a few could even observe a drop in their own credit rating. Any score advancement is the consequence of several facets, such as paying bills on time, maintaining credit balances reduced, preventing unnecessary inquiries, proper financial planning and growing better credit customs.