Articles

Articles, Blogs, Posts to write
-The Fundamental Steps of Entrepreneurship (For Podcast)
-Business Basics I
-Business Basics II
-Business Basics III
Becoming Financially Savvy – Financial Skills and Financial Behavior
Money Motivation Mondays
What is credit and how should it be applied to day to day life
Understanding the Micro and Macro Economics of Credit in the Real World
Financial Literacy for Teens 101
x5 Things You Need to Know about Finances
The Importance of Financial Literacy
Saving Options

Articles, Blogs, Posts to write-The Fundamental Steps of Entrepreneurship (For Podcast) -Business Basics I-Business Basics II-Business Basics IIIBecoming Financially Savvy – Financial Skills and Financial Behavior Money Motivation MondaysWhat is credit and how should it be applied to day to day lifeUnderstanding the Micro and Macro Economics of Credit in the Real WorldFinancial Literacy for Teens 101×5 Things You Need to Know about FinancesThe Importance of Financial LiteracySaving Options

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Week Oct 3

Financial Housekeeping for the Wealth Minded Individual!

Whether you are transitioning from job security to financial independence, or pursuing a new passion, the journey is about much more than the end goal.

As you strive towards your aspirations, you will encounter obstacles that test your resolve and push you to grow.  Each step, no matter how small, contributes to your development. For some, the process may seem easy, while for others, it may feel impossible. The key is to embrace these changes and recognize that they are molding you into a stronger, wiser, and more resilient individual.

The Markets: Its the fourth quarter October to December, we are in the holiday months, A turbulent five days for markets, featuring rising tensions in the Middle East and a port strike that both started and stopped, was capped off by a better-than-expected September jobs report that helped stocks close marginally up on the week.

For the first week of October the S&P 500 rose 0.2%, while the Nasdaq Composite and Dow Jones Industrial Average rose about 0.1%.

An update on inflation and the start of third quarter earnings reports will grab investor attention in the week ahead.

The October Consumer Price Index (CPI) report will headline an economic calendar that will also feature updates on consumer sentiment and the release of the minutes from the Federal Reserve’s September meeting.

On the corporate side, some of America’s largest financial institutions, including JPMorgan, Wells Fargo, and BlackRock, will kick off third quarter earnings season on Friday. PepsiCo and Delta Air Lines are also scheduled to report earlier in the week.

Real Estate: The Chinese Communist Party and its globalist allies have already snatched up a staggering 43 MILLION acres of American farmland.

Even Bill Gates couldn’t resist jumping into this historic land grab…

And according to an NBC investigation, he’s bought up so much land…

He is now the largest private farmland owner, with enough land to build The Pentagon 8,000 times over. While also waging financial war on the petrodollar.

Because after all, it’s not like China has run out of land…

And it’s definitely not because Bill Gates wants to replace his tech billions with the back-breaking work of running a farm. “This is a two-pronged attack to starve America into submission and dethrone the US Dollar.”

Bank Error, Not in Your Favor

SBAC had a massive glitch and showed all customers as having a $0 balance. The banks in the UK have also glitched. NatWest, RBS, and Ulster Bank all down as Brits unable to access their money with mobile banking.

The Bank of England, the equivellant to the U.S.’s Federal Reserve, injected $39.47Billion of liquidity in the market this past week.

If Your Credit Report is Full of Mistakes, Here’s What You Do

Your credit report should be a source of fact, actual truth. After all, this is supposed to represent your actual borrowing behaviors with creditors. When you apply for a credit card, mortgage, car loan, or even some non-financial applications such as for jobs, rentals, and insurance, lenders pull your credit report to judge your credit worthiness.

So, mistakes on your creddit report have long-reaching consequences. Yet, many Americans are surprised to learn errors on your credit report are quite common, much more common than the consumer reporting bureaus would have you believe. A 2024 Consumer Reports survey of more than 4,000 people found that 44% of people who checked their credit report found at least one mistake. Of those people, 27% said the mistakes were around account information errors, including accounts they did not recognize, on-time payments being reported as late or missed payments, and debts listed in collection that did not belong to them, alias, old and inaccurate personal information that was simply irrelevant.

Luckily, there’s a straightforward process in place for disputing credit report errors. Let’s walk you through the process.

Why Do Mistakes On Your Credit Report Matter

First, it’s essential to understand why mistakes on your credit report matter:

  • If your identifying information (address, name, birthdate) is incorrect, it can make it hard to get approved for new loans or credit because the information you put on the applicatioin doesn’t match what’s on your report.
  • If there is an error around account information, such as having debts listed that aren’t yours or payments listed as late even though you’ve paid on time, it can negatively affect your credit score. Each of these errors can significantly lower your credit score and impact your approval for new loans or credit. Or, if you are approced, your lower credit score means you’ll get a much higher interest rate. Paying a higher interest rate can cost you hundreds if not thousands of dollars on your overall loan!
  • Sometimes, you need to submit your credit information when applying for a job or a new rental agreement. In these situation, the errors might come across as concerning and cost you that job or lease opportunity.
  • Many unexplained errors on your credit report can also indicate someone is trying to steal your identity.

How to Dispute Errors

The Fair Credit Reorting Act (FCRA), regulates the consumer credit reporting agencies, and their interactions with consumers, as well as the data they store, and how they are able to dissiminate it. If you as a consumer find any mistakes on your personal credit report, you have consumer protected rights to file a dispute with the reporting agency. Now there are three major Consumer Credit Report Agencies or Bureaus, I hesitate to use the term bureaus because its somewhat misleading. Anyway these companies do not actually do the report themselves, they are fed data from other companies or subdivisions of the major company, at which time the main three companies compile the data for resale to their customers. The main three are Experian, Equifax, and transUnion, each of these companies have a simi monopoly on credit reporting in their region. Experian handles most of the population living on the Western United states, equifax handles middle America and TransUnion take the East Coast or Eastern states.

But How Do You File a Dispute

You can file your dispute via mail, phone call, or online. For the most optimal methods it is advised to utilize the first two in most circumstances. You will want to fill out the dispute form, or type or handwrite a letter with the information you are disputing on it along with any reason for the dispute

You’ll want to fill out the dispute form and also attach a personal letter. Your letter should include what you think is wrong on your credit report, a copy with the mistakes highlighted, the action you would like the credit bureau to take, and any supporting documents that prove your case. Make sure to only send copies of supporting documents, not originals, so if anything gets lost, you still have proof.

The credit bureau must respond to your dispute.

  • If your request is deemed “irrelevant,” they’ll notify you of this decision and close out the dispute. They’ll also provide you with their reasoning (such as not enough evidence) so you can follow up if needed. 

Suppose the credit bureau reaches out to the business, and they cannot prove the information to be accurate. In that case, it’s the business’s responsibility to notify all three credit bureaus so all your credit reports can be updated.  The credit bureau is obligated to give you the dispute results in writing. If your dispute led to any changes in your credit report, you will receive a free copy of your updated report. This copy doesn’t count towards your one free annual report.  You can ask the credit bureau to send the corrected credit report to any lender that accessed your credit report in the last six months. 

. As a consumer, you’re entitled to a free copy of your credit report from each credit bureau once every 12 months. Make it a habit to order this report and review it. 

Credit monitoring companies are an option if you don’t have enough time to dedicate to this task. These companies offer many helpful services, including monitoring your credit and alerting you of significant changes in your credit score, reviewing your credit report for mistakes, filing disputes on your behalf, and offering credit improvement advice. Of course, this all comes for a fee. 

So, it’s up to you to decide if you’re up for this responsibility or if you’d rather outsource it to someone else. The most important thing is that it gets done by someone!

UHA Pros & Cons

Universal HomeOwnership in America

Assumptions:

  1. The existing population of 360 million remains unchanged.
  2. Currently homeless individuals are provided with homes under UHA.
  3. All housing is owned, not rented.
  4. No significant changes in the economy or geopolitical landscape outside America.

Geopolitical Consequences:

  1. Stable Housing Environment: A more stable living environment may reduce social unrest and political instability associated with homelessness and temporary housing solutions.
  2. Reduced Pressure on Refugee Policies: With fewer homeless individuals, there would be less pressure to accept refugees as a solution for affordable housing shortages.
  3. Potential Increase in National Pride: Homeownership is often associated with a sense of pride, stability, and belonging, which could contribute to increased national identity and social cohesion.

Economic Consequences:

  1. Increased Consumer Spending: With the elimination of rent payments, households may have more disposable income for other expenses like consumer goods or services, boosting economic growth.
  2. Potential Housing Market Stabilization: By eliminating the renter-landlord dynamic, the housing market may become more stable and less volatile. However, it could also lead to an overheated housing market if supply does not keep pace with demand.
  3. Potential Decrease in Real Estate Investment Opportunities: With fewer rental properties available, traditional real estate investment strategies would need to adapt. This could include a shift towards commercial and non-residential property investments.
  4. Increased Mortgage Lending: To meet the increased housing demand, mortgage lenders may need to expand their offerings, potentially leading to more flexible lending practices.
  5. Possible Inflation: If supply cannot keep pace with the increased demand for homes, inflation in the housing market could occur, making homes less affordable over time.

Social Consequences:

  1. Enhanced Community Stability: Homeownership often leads to longer-term residency and stronger community ties, fostering more stable neighborhoods.
  2. Potential Reduction in Mobility: With fewer rental options available, people may be less likely to move around the country, potentially leading to regional economic disparities if some areas are more attractive than others.
  3. Greater Financial Security: Homeownership can provide a sense of financial security and wealth accumulation through home equity. However, this could also lead to over-leveraged households in an overheated housing market.
  4. Increased Social Cohesion: With more people invested in their communities through homeownership, there may be stronger social ties and increased community involvement.
  5. Potential Disparities: While everyone would own a home, disparities could still exist between the quality of homes owned, property taxes paid, and maintenance costs. This could widen the wealth gap if some households struggle to maintain their properties or pay associated costs.

B.O.I. Report

The Beneficial Ownership Information Report

How does a reporting company report a corporate trustee as a beneficial owner?
For purposes of this question, “corporate trustee” means a legal entity rather than
an individual exercising the powers of a trustee in a trust arrangement.
If a reporting company’s ownership interests are owned or controlled through
a trust arrangement with a corporate trustee, the reporting company should
determine whether any of the corporate trustee’s individual beneficial owners
indirectly own or control at least 25 percent of the ownership interests of the
reporting company through their ownership interests in the corporate trustee.

  • For example, if an individual owns 60 percent of the corporate trustee of a
    trust, and that trust holds 50 percent of a reporting company’s ownership
    interests, then the individual owns or controls 30 percent (60 percent × 50
    percent = 30 percent) of the reporting company’s ownership interests and is
    therefore a beneficial owner of the reporting company.
  • By contrast, if the same trust only holds 30 percent of the reporting
    company’s ownership interests, the same individual corporate trustee owner
    only owns or controls 18 percent (60 percent × 30 percent = 18 percent) of
    the reporting company, and thus is not a beneficial owner of the reporting
    company by virtue of ownership or control of ownership interests.
    The reporting company may, but is not required to, report the name of the corporate
    trustee in lieu of information about an individual beneficial owner only if all of the
    following three conditions are met:
  • the corporate trustee is an entity that is exempt from the reporting
    requirements;
  • the individual beneficial owner owns or controls at least 25 percent of
    ownership interests in the reporting company only by virtue of ownership
    interests in the corporate trustee; and
  • the individual beneficial owner does not exercise substantial control over the
    reporting company.

Corporate Entities:
Statutory Trust
Business Trust
Foundation
Not created by the filing of a document with the secretary of state or similar office

What is it?
Which law governs these requests? The Corporate Transparency Act
Who qualifies for exemptions?
How do you file? File a report using the BOI E-filing system.
How do I get a FinCEN ID? Create a FinCen id (optional)

I Just Can’t Seem to Make Enough Money!!!

Most people on the surface living in the U.S. believe this to be their most prevelant financial issue, but truth be told lack of money is a much deeper issue than many may suspect.

First and foremost when you actually decide to be more financially savvy, with the intention of securing financial independence for yourself, and yes I purposely use the word decide, meaning you cut off any other possibilities, leaving no other choice, then you first must determine how you manage your money. Are you a person who is inherently detailed and watches every penny spent? Most likely not because were that the case then you probably wouldn’t be reading this right now, however if that is you and you obviously are reading this walk with me through this ideal. Or you may be the person who knows what your expenses are on the surface, knows how much you have coming in on a regular basis and you simply work within those confines, you may have a little credit debt here or there but for the most part you feel you simply dont make enough. And the last version or possible personality trait, knows they are completely financially irresponsible, spends every dollar that comes in and borrows the rest as you run out of month before you run out of month. Each of these lifestyles have their own set of financial issues as to why you feel you aren’t making enough, but the fact of the matter is for all is that you simply are not taking into account the actual cost of things. The goods and services we buy have a sticker price, but that rarely included the actual cost we will pay for the items.

If you are never truly aware of the actual cost an item, good, or services cost you then you cant truly manageyour money effectively. When you only look at the sticker cost of things, you are completely neglecting all the other cost factors not on the sticker, such as; maintenance cost, insurance cost, handling, shipping, servicing, transferringsales tax, and so forth.

Interest Payments are not only keeping people broke, but stifling ownership.
Interest is paid to the lender, the biggest lenders are typically the 5 Major Banks
On mortgages
On Autos 21% of every dollar paid goes to interest

Keys to the Kingdom:

  1. Never Lose Money
  2. Buy value at a low price
  3. Build Great Money Habits
  4. Avoid Debt
  5. Keep Cash Reseeves
  6. Invest in yourself
  7. Educate yourself on money
  8. Invest in low-cost index funds
  9. Give back
  10. Think long term
  11. Leverage compound interest
  12. Live modestly