What is a money circle?

Money circle is a group of people that comes together, pool resources and knowledge in other to achieve a financial goal. Typically, the objective revolves around saving money, access to cheap money or investing money.

Takeaways: Money circle

Money circle is a great way to connect with people while achieving your financial goals. That’s why most successful people are in somehow part of a  circle. Members support each other and push each other to achieve financial freedom.

Advantages:

  • Meet new people and connect on a personal level
  • It is important to acknowledge that you can build substantial wealth through money circles.
  • Access to financial products for people with no access to traditional banking.
  • Thorough background check on each member
  • Strong sense of commitment from each member

Think of it as a credible alternative should you need a space where you can talk about money.

How does it work?

Generally, there are no typically rules. But you need to take some precautions. But in essence, the goal is to find people you can trust, set a weekly, monthly meeting date. During those meeting, you discuss all your money issues, share ideas, give an account of the current situation and give your contributions. if the circle is focused on investment you will meet your broker and he will give you an update.

More often members end up building very strong personal ties that last for a very long time. You can start with your close family and your community before expanding.

Learn more about money circle

Perspharp you want to skip all the learnings and jump directly in the most interesting part. Yet you need assistance to implement one or multiple money circle around you.

  • Then take this course instead. It will teach how to run a program near you and make a decent living of it.

How to start a money circle : General class

Money circle brings like-minded people together. They pool resources and help each other achieve their respective financial goals. In this class, you will learn the fundamentals. In addition, you can go further by running a program. the program is more than just group friends.

Course overview money  circle class


    • Welcome to the course
    • Definition
    • The importance of a being part of a circle.
    • Different types of circles.
    • Lending circle
    • Saving circle
    • Investment club
    • Learn how to choose the right circle
    • The legal framework
    • The advantage
    • The drawbacks
    • How to set up a circle?
    • Working with professional services

Become a student: Enroll

After you attend this course, you find a whole different perspective in life. It would help you assess how you can leverage your community to improve your financial prospect. More money circles are a great way to turn your financial fortune around.

Cost: $399 (or 6 payments of $70).

Sign up


 

Questions

  • Subject: Money circle class
  • Email: educatorslearners@gmail.com

 

 

 

How to Write a Check

A check is a legal written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer. In addition, it is an indispensable skill every adult should master. Because it is still surprisingly very common even in today’s ultra digitalized world.

Writing a check is pretty easy, this article will show you exactly how to do it. Just follow the step by step guide. There is no specific order you can complete it in any order you like.

How to Write a Check: Step by step

  • Step 1: Write the date

On the upper right-hand corner, there is a dedicated blank space. Typically, you use today’s date to keep accurate records. However, always remember the date here should be the date that you sign the check.

  • Step 2: The name of the recipient or the payee

“Pay to the order of” write the name of the person or the company you are sending the check to next to that line. Also, do avoid any mistake, if you are not sure about the person’s full name ( first name, middle name, last name, ‘Jr’ or “sir”), please double check again before writing. If it goes to an organization write out its full name, not acronyms unless given permission.

  • Step 3: Numerical amount of the check to the right of the dollar sign

write the exact amount using dollars and cents in the small box on the right-hand side. Consistently, start with the last number on the left to prevent fraud. Finally, draw a line after the last digit.

  • Step 4: Amount in words below the “Pay to the Order of” line

The exact amount should have an equivalent in words to avoid fraud and confusion. This is the amount that would be paid. Yet in case of doubt with the numerical amount, the amount in words is legally abiding.

  • Step 5: Signature

Sign the check in the bottom-right corner. Use the same and the signature on file at your bank. The check will invalid if it is not signed.

  • Step 6: Memo section on the bottom left of the check.

Although this section is optional. It could be useful to write a note for yourself to remember what the check is for. In addition, some organization or landlords require additional information on the memo section.  For instance rent appartment#1 or ID number. Because it helps keep track and accountability.

11 Things to keep in mind

  1. Write a check when you absolutely need it. That is because it is time-consuming and it is not the most convenient way to move money. Furthermore, you can save money and time by not using a checkbook.
  2. Make sure you have sufficient fund in your account before writing a check or the amount will be available before the recipient cashes it to avoid a bounced check.
  3. Keep a record of all your checks: it would help you track your expenses and avoid bounced checks.
  4. Use a pen when writing a check to make it permanent and avoid any issues.
  5. No blank check: Don’t sign a check until you’ve filled in all the necessary information including the recipient and the amount. a blank check is basically given unlimited access to your account.
  6. Print the amount in a way that prevents scammers from adding to it or altering it.
  7. Get checkbook with carbon paper so you can automatically keep a record of every check you write.
  8. Always use the same signature for all your check and it has to be the same signature filed at your bank.
  9. Avoid writing a check payable to cash. It practically the same as a blank check.
  10. Write fewer checks. Use this method of moving money when it is absolutely necessary.
  11. When writing your check make sure nobody is recording. The goal is to avoid people imitating or forging your signature and your handwriting.

How to cancel a check

When you realized that a check was stolen or lost, there are some few steps you can take to ensure the check doesn’t get cashed by an unauthorized person.

  • a. Call the bank to ask them to stop the payment immediately as soon as possible before the check is processed.
  • b. Prepare the following information check number, amount, name of the beneficiary
  • c. Make sure you send in within typically 14 days official paperwork either by mail or in-person to follow up with the verbal or electronic request. If no written confirmation is made within the legal time frame the stop payment will not be honored.
  • d. Be prepared to pay cancellation fees normally around $30
  • e. Close the account that has been comprised and reopen a new one to avoid unauthorized access to your account.

What to do if a stolen check has been cleared?

  • If a stolen check goes through, you can still be able to eliminate charges by contacting your bank in a timely manner.
  • Contact the recipient to inform the person or the organization about the incident and the necessary measures. Eventually, make arrangement to send a new check.
  • The cancellation also applies to a cashier check as well in case of fraud.

ORIGINALS

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3 Reasons Why Most Black Don’t Become Wealthy By Valerie Love

Why black families struggle to build wealth?. The answer is not so simple. Even though historical reasons certainly play a bigger role in generational wealth. Yet evidence has also pointed out different reasons.

In the video 03 main reasons identify are “Flossing or Ballin”, the lack of money understanding and the everything now attitude. Nevertheless, the goal is not to condemn black culture. But, the ultimate argument is to encourage more African American to be more money conscious and long term focus.

Takeaways:

Just by adjusting their lifestyle and community interaction. The African American community could easily be one of the most powerful. Yet it is worth noticing elements such as educational level, low investment in black communities and racial segregation.

Go deeper why most black struggle to build wealth nowadays?

This 2017 article from Huffpost, shed more about this topic with illustrative details. For example, the well-documented paper revealed statistics and empirical explanation about the real truth surrounding the limitation of black wealth.

Way forward

These simple tips if applied can help the black community build more wealth.

a. Pragmatism

Often time more African American don’t accept some hard fact evidence. As an illustration, if you live with the minimum wage why will you buy an iPhone? Why will you rent a $900 apartment if you earn $2000 a month? In essence, live either below your means or at par with your means.

b. Stronger community, stronger people

Across the country, most communities where the majority are black are invested with all sort of crime, decay, and destructions. Even though low public investments don’t help. Yet, some simple step could be taken to improve the situation.

  • Firstly, spreading more love within the community by supporting each other, organizing community cleaning up campaigns and
  • Also, team up to promote crime-free business opportunities.
  • Moreover, build solid black business networks and associations.
  • Finally, shop and buy black to encourage the community.

c. Behavior

African American need to be more optimistic and appreciate the opportunity of being American. In addition, this includes hard work and always thinking ahead. Also, the feeling of resentment and aggressivity only path the way for more social and racial clustering.

d. Education

More educated people equal more community elevation. By education, I don’t mean a college degree. I mean knowledge sharing, mentoring, and coaching. They are more important than a college degree.

 

 

 

 

How to Make Easy Passive Income

Passive income is everyone’s dream. The ability to make money while sleeping or enjoying yourself at a beach on a sunny day. Frankly who won’t like that. Many people have weight in and abundantly written about the topic. Read about Gary Vaynerchuck takes on it. In this article, I want to share with you what I consider as the best passive income idea, I have ever come across.

You will read, watch or listen to content about this idea or that idea. Typically it is all about asset businesses like a blog or real estate. But have you ever heard about investing in people?

So how can you invest for a lifelong passive income stream?

A. People

1. Build a community: You can do that online by leveraging a blog or a website to sell digital content and keep them engaged. Or you can develop your legit network marketing scheme. The good thing with network marketing is you can basically develop it for any type of business. The more you have people enrolling in your scheme the more money you make and it would grow by itself.

I will recommend building a network marketing empire around foods and cosmetic products or at least gravitate around Fast-moving products.

With a blog or a website, you have to develop content upfront for a couple of months perhaps years, optimize your SEO then publish and wait for the magic to happen. But make sure you publish quality contents. You can start with a couple of articles around 30 then continuously optimize.

I will recommend selling digital products such as e-books, audios, videos, music, articles, and books.

2. Develop a personal student loan program: You invest in a person or a group a person by paying their college degree or trade school program in exchange every paycheck you will get 1%. Furthermore, it is a model that has been around for a very long time. There is an unlimited market to tap into. You should always keep it between 0.5% to 1%.

I will recommend being extremely transparent upfront. Get an agreement signed. After all, a company can go bankrupt and disappear but an individual might be around for a while. You can work with students from underprivileged countries. Because the cost of entry is lower and they have very limited options. For example, $400 per year can cover a student cost for a year.

3. Agent: In my opinion, a good agent works 2 to 4 months per year. His main goal is to secure a multi-year deal for the person he represents. Think about those who invested in The Spice Girls band in the UK or the agent of the world most valuable sports players or entertainers.

I will recommend industries such as music, films or sport. But first, you have to make sure the person really has a talent. Also, transparency and honesty are critical.

B. Finance

1. Invest in the stock market: You can find a broker and give the person the money and let him do the workHowever, be aware of scams and pyramid schemes. So make your due diligence if possible hire a professional to run all the investigation.

Dividend stocks are great because while these stocks pay dividends they can also appreciate (or depreciate) in value. This means that you’ll still get to take advantage of compound interest of the value of the stock. Plus you can reinvest your dividends until you reach your desired amount

2. Equity Investor: as an investor, all you will do is just showing up at a board meeting once every quarter then go back to the beach. You don’t need to earn million to make your way through the investment career. Even a little as $1000 per year investment will go a long way if put towards a high-value startup or project.

I will recommend you to focus on already existing small businesses or startups with clear cash flows generation and a monthly payout.

3. Currency trade: This is a more complicated strategy but the more valuable foreign exchange you have, the ability to make good money. Imagine you have some euros at then USD drops against the Euro by 20%, you will be 20% richer in Dollars. Just as simple as that. Moreover keeping a certain level of foreign currencies is a good idea to have.

I will recommend you to always have at least 1000 worth of European Euro, Norwegian Krone, Australian Dollar and British Sterling Pound currency stored somewhere. Because they are one of the most stable currencies in the world.

4. Gold: it is the world most valuable metal and a safe haven. Have you ever asked yourself why central banks around the world use this as their respective currency reserve? If they do, why don’t you?

I will recommend having at least $2000 worth of gold in your safe.

C. Property

Investing in real estate is definitely one of the best ways to build passive income. that is because all you have to do is to buy in a property and then either rent/lease it out or wait for it to take value and leverage home equity’

But before you do please ask yourself those questions:

  • Do you want to buy the property for family purposes or for rental?
  • Do you want to use for both?
  • Are you looking to develop a new project or buy from existing markets?

Answers to those questions will help you determine, a location and a tentative budget. Moreover, if you choose rental/lease it is advisable to use a property management company to protect yourself against tenant abuses.

You must be asking yourself where is the money going to come from?

That is because from time to time we have heard from our grandparents and parents in order to make money in real estate you need to come up with the money and buy a property. If that statement was right a couple of years ago since 2012 and the JOB ACT is no more relevant. Indeed, in 2012 Congress passed the JOB ACT which allowed companies to market private investments to the public for the first time. Consequently, real estate crowdfunding was born.

What is real estate Crowdfunding?

Real estate crowdfunding companies do is allow investors like you and me to pool our funds and buy multi-million dollar commercial properties or $300k single-family homes – whatever we agree on. The returns on these investments are distributed according to how much each investor contributed.

There is no shortage of real estate crowdfunding platforms, so I recommend doing thorough due diligence.  If it is possible I recommend you seek counseling from a professional realtor.

Nevertheless here is a list of the most popular ones:

  • Fundrise
  • Roofstock
  • EquityMultiple

Here is how you can make a decent passive income from your property:

  1. Rental

Renting is super chill and at the same time, it requires a lot more effort from the owner. You can maximize your income by renting directly. But be prepared to deal with homeowner challenges. For example late-night call from tenants to complain about x, y, and z. In addition to finding a reliable tenant. But making a good return on investment on rental can be extremely challenging. That is why people typically leverage the extra income available to put into property rental. It is a means to store extra money.

2. Flipping

This is probably where the money is if done right. You find a property in a relatively good neighborhood, buy the house at a good price renovate it then sell it at the market price. The challenge here is to find the house you can buy at a good price.

3. Home equity

This probably one of the best way to make money from real estate. Basically, you buy a property and once it takes value. You can live from the extra money collected above the price you bought the house without selling the property. The downside is you need the housing market to constantly appreciate itself and you will need to know the perfect time to sell.

I will recommend looking into the co-property investment strategy to limit your financial exposure and get good deals in prime locations. However, make sure you do your due diligence. In addition, explore up and coming locations rather than investing in an already mature or trending market. Finally, find a mentor a real estate veteran to coach you and guide you throughout the process.

In conclusion

Passive income is awesome. You can choose one of those or a combination of all to achieve your financial freedom. Whatever strategy you choose, keep in mind you will need to put in some work upfront to enjoy a good income stream. Typically at least 1 year of hard work. So you will either sacrifice your time or money

Passive Income: stop buying into the idea By Gary Vaynerchuk

What is passive income?

Stop buying into the idea of passive income, Gary Vaynerchuk, one of the most prolific entrepreneurs and a well renowned public speaker came out with this amazing video to take part in the conversation of making money. In addition, this video published on Facebook, he uncovered the myth around the topic. Furthermore, he explains what it takes to make the money you need to get your financial freedom.

            “Anything that starts with I don’t want to work is already a problem”                                                                        Gary Vaynerchuk

Takeaways: Income stream

If you want to have financial freedom, you need to put in some hours and build the business. Nevertheless, he emphasizes from his opinion the only 02 alternative income options are real estate and the stock market. Moreover, from Gary’s views, those are the only two streams that he can recommend. Anything else will need time, consistent effort and commitment. An average of 7 years is necessary to build a good income stream.

Conclusion

In essence, Gary is not negating the idea of generating any incomes without putting in the same 9 to 5 schedule. He is pointing out the hard fact that nothing comes easily. Basically, Gary Vaynerchuk tells the audience there is no such thing as

How To Pay Off Student Loan : Useful tips

To pay off all your student loan, it will require some distinctive efforts and focus. Indeed student loans in the US are one of the most important debts crisis of the century. Some key statistics:

  • One in five adult Americans has a student loan.
  • The total amount of student loan debt is $1.47 trillion in 2018.
  • 44 million student loan borrowers in this country
  • 65% of college seniors who graduated from nonprofit colleges in 2017 had student loan debt.
  • Overall Student loan debt has seen almost 157% growth since the Great Recession and is the fastest-growing portion of the total household debt in the U.S.

As of 2018, roughly 1 out of 10 people with student loans were late with (or completely missed) their payments. That’s the highest 90+-day delinquency rate of all household debt—outranking auto loans, credit card debt and mortgages. So how can you pay off your student loan? This article will cover some helpful tips.

Takeaways: How To Pay Off Students Loans

To pay off your student loan, you have a couple of options. You can earn more money, save more money, leverage your environment, leverage your negotiations skills or credit card short term strategy.

A. Earn more money

Typically you can’t pay off your loan because you don’t earn enough money to keep you running. Every hundred dollars taken away from your paycheck puts you under hard stress to meet up with your bills. So a great solution will be to earn more money. Many options are available but you can either change job, request for a promotion or find a side hustle. Gaining extra income comes with more sacrifices. Either it will take away your free time, or you will need to invest money. Likely it is going to be a combination of both. However if well manage it could be very profitable, you could make a couple of thousands of dollars per month.

B. Save more money

Another very interesting approach of getting the financial space you desperately need to pay your students loan is to reduce your living expenses and to live within your means. Cut off all unnecessary expenses, trim your bills to save money. Another simple way is to adopt a minimalist lifestyle. You will have to let go of some of the threads and perhaps your gadgets. It is not easy but you have to keep in mind the main objective of paying off your students. It will certainly push you towards some hard time, maybe your loved ones will hate you, and probably you will be anti-social. Eventually, you will no more be as cool as you are now. But who cares the most important is your financial health. So stay focus and resist all the discounts, sales, promotions and the sweet talks encouraging you to be trending.

C. Leverage your community

The community approach in paying off your student loan is a collective approach that relies on tools such as saving circles, or lending circles (you can get a loan for zero interest rate). The community implication is also extremely critical as your relationships, connections, friendships can really support you towards achieving your goals. You could even team up with another person for motivation. Get a roommate or live with your parent so you can share bills and put it towards paying off your student loan. Of course, you will sacrifice your freedom and independence but you will gain in the long run. Nothing worth than having some extra dollars in your account.

D. Career

Check out for job opportunities that include or negotiate a sign-in-bonus, performance bonus and eventually a commission if you are in an industry that promotes that. You can take full advantage of money-making opportunities available at your company such as hiring referrals, or mission nobody wants to do. Plus you can also sell your side hustle to people around you in your company. Finally do not hesitate to change job, field or career if you realize the company or the industry will not take you where you want to go.

C. Credit card strategy short term

This is a very risky strategy but if well managed can be worth the shot. You can max out your credit card to pay part of your loan, then pay your credit card monthly payment. Because of its minimal, you won’t have that much pressure financially. That will give you space to breathe and strategize for the long term. It is a short term strategy that works pretty well if you put in the discipline required.

D. Credit Card Rewards

Every time you use it you are accumulating points. You can turn out and maximize those options by asking your roommate/family every month to do purchases and accumulate rewards with a single card. The credit reward is then redeemed and utilize the money to pay off student loan monthly payment. You organize it as a circle with each member of the community waiting for their turn every month.

Nonetheless, you need to read the fine print to understand the terms and conditions of your cash rewards program.

E. General

Here are some simple tips that you can apply to pay off your student loan.

  • Drive a cheap car if you absolutely need a car. If you don’t stick to public transportation and ride-sharing when it is necessary.
  • Buy use phone or cheap phone for less than $450
  • Avoid friends who are always thinking about spending money or refusing to grow up
  • Get a partner or get married to a person that is willing to support you through the process.
  • Cut off all unnecessary subscription plans
  • Stop taking vacations or travelings

In addition to the above, there another legal way you can take advantage of to avoid paying your student loan.

Extra: 4 Legal ways to stop paying your student loan

1. Income-driven repayment

Typically you will start paying your student loan only when you reach a pre-defined income threshold.

2. Join public serve

After a certain number of years of working in the public service, you can be eligible for a federal forgiveness program.

3. Serve your country and take advantage of forgiveness program for people who have served the military.

Joining the military has numerous advantages. One of those advantages is free tuition and the opportunity to get part of your complete loan taking care off.

4. File for bankruptcy

This is the ultimate decision, depending on how you will take things forward. If it comes to the point where you can’t afford to pay your student loan anymore then you can file for bankruptcy.

How long does it take to pay off your student loan?

There isn’t any miracle solution. Maybe if you win the lottery, receive an inheritance, donation, or apply for debt forgiveness. Perhaps you can find legal ways to stop paying your student loans. But, in essence, the time will depend on your ability to be focused and committed to getting out of debt. Some people get out debt two years after graduation, others 10 years. Some never. It all depends on you.

Conclusion: How To Pay Off Student Loan

Student loans are a pain in our finances. The negative impact on us goes beyond our imaginations. It affects our ability to buy a house, get married, or to leave in a certain comfort with our family. That is why the more you get out quit the better you will be. More importantly, money management skills are critical don’t hesitate to learn and ask questions on how to get out of debt.

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