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10 Financial Terms You Should Know

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swapthoughts.com

We often draw a blank when we hear financial terms such as interest, 401(k) and money markets. We scramble to Google these terms but still may not be  able to clarify exactly what it all means. Below are 10 common financial terms and how they may apply to your life.

  1. Money Market Accounts (MMA): These are accounts similar to your typical savings accounts at banks; however, there are two key differences. Money Market Accounts typically require larger daily minimum balances (usually anywhere from $1,000 to $2,500, although some online banks are removing the minimum deposit requirement) and they pay more interest (usually an average of about 1.0% APY). MMAs are a good option for those looking to minimize financial risk (as opposed to stocks and bonds).
  2. Interest vs. Interest Rate:  Interest is the amount it is going to cost you to borrow money. Interest rate is described as the percentage paid for the use of the loan. Interest rates may be variable or fixed and are typically higher on riskier loans.
  3. 401(k) Plan: This is the most common retirement account, provided by an employer. Money is deducted from your paycheck pre-tax, therefore lowering your taxable income (that’s a good thing!). Another great benefit is employer matching. This is when employers match what you are contributing (usually up to a certain percentage or dollar amount); it’s basically free money!
  4. Stock: This represents ownership in a corporation and part of its earnings. To name a few, the benefits to owning stock are: growing your money (provided the company is doing well) and the ability to defer paying your taxes.
  5. Bond: Bonds are another form of a loan; it is money leant from an investor to a government or corporate entity. Yes, the government and corporations borrow money too! Bonds are a good investment opportunity because they are a bit safer than stocks. If a company were to go bankrupt, creditors (issuers of bonds) are paid before those who hold stock.
  6. Premium: This term may sound a lot more complicated than it really is. Simply put, premiums are the price that a bond or stock sells above its issue price.
  7. Equity: This is the value of ownership or the value of the shares in a company.
  8. Secured vs. Unsecured Loans: These two terms are commonly misunderstood, especially when it comes to student loans. Secured loans require the lender to put up something of value against the loan; if the loan is not paid, the lender has the option to use that item to satisfy your debt. A secured loan gives the lender security. An unsecured loan is just the opposite; nothing of value is needed to obtain a loan. Student loans, as well as credit cards, are unsecured loans.
  9. Refinancing: Sometimes a borrower may have a loan with such high fees and interest rates; A new loan is then taken out to pay the old one, essentially with lower fees and interest.
  10. Short-term vs. Long-term Investments: There are many types of investments. Short-term investments are great for financial goals set for two years or less, such as money market accounts. Long-term investments typically carry a longer maturity date, such as retirement accounts.

What are some difficult financial terms you’ve had to research?

 

Finding Positivity In The 3 Negative R’s

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What are the Three R’s? Many of you may say they are reading, writing and arithmetic but we are talking about resentment, regret and resilience. When thinking about the three R’s, it’s important to focus on how the latter (resilience) can be built from the former two (resentment and regret).

Yes, on the surface it doesn’t seem like these three words would go together and it might be hard to believe that a combination of resentment and regret could amount to anything related to strength and flexibility.  But, if we look without fear at what these feelings are and where they come from, we’ll find they can make us stronger and more confident.

Resentment can be a product of not expressing our feelings appropriately.  If we swallow our feelings often, we can harbor resentment for those individuals, remarks or acts that triggered those suppressed emotions.

Regrets revolve around choices we did or did not make in some past moment.

Each of these are rooted in a past that will remain unchanged.  Mentally rehashing these moments repeatedly is paramount to torture and suffering.

To change these negative feelings into strength, first reconsider whatever misstep or missed opportunity has kept you from moving forward.  In fact it’s a good idea to write down the person, event or decision around which your resentment and regret are a focus.

Think about it and ask yourself this series of questions below:

1. What lesson(s) can be learned from this scenario?

Be constructive; this is not an opportunity to beat yourself up.

2. What am I having trouble letting go of?

This is easily identified as the one or few thoughts you repeatedly have.

3. How can I forgive myself or the others involved?

Judging your past behavior based on a current and improved mindset and skillset is unfair. Apologize to yourself and any others involved.  Make it genuine and specific. Do not expect it to be reciprocated; the purpose is to clear your conscience. Acknowledge that you did your best in that past moment.

4. Which of my core values is being challenged?

Perhaps one of your core values is safety and you failed to play it safe by taking a business or financial risk.  Identifying the value violated by your past self will allow you to determine whether or not this value helps or hurts overall.  The value may sound good in theory but it may be possible that it no longer fits your life. Perhaps you want to be able to take more risk and are unsure how to reconcile with your desire for safety.

5. What can I do differently if similar circumstances appear in the future?

It may be helpful to write a “do-over” scenario in which you would write the ideal scenario of the circumstances that have caused you so much angst.  This exercise will not only highlight the lesson you learned but will also emphasize your growth in terms of skillset and mindset.

The thing about resilience is that in order for it to be built, it’s necessary for you to be taken out of your element or comfort zone.  Resilience is a result of being stretched or challenged.  The events of our past that have generated resentment and regret are the best tools for personal growth; as these are the experiences that made us feel uncomfortable and out of control.

The lessons we identify can lead to growth and strength and will allow for flexibility going forward.  Acknowledging our weaknesses allows us to focus on ways to make those improvements we deem necessary.  Envisioning possibilities moves us out of the past and into the present and future. Establishing self-awareness builds a foundation on which to base future decisions and allows us to better determine those things we can control.

We all have regrets, but to allow them to torture us for the rest of our lives is not only painful, it’s non-productive.  Make your past missteps work for you by looking to them as life lessons and you’ll find that a healthier and wiser life awaits you.

Fearless Womeneur™: Demanding Your Fee and Your Respect

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[vc_row][vc_column][dt_fancy_title title=”www.civit.it” title_align=”left” title_size=”small”][vc_column_text]The number of women starting their own business is growing at an astounding rate with no chance of slowing down. The opportunity and desire for female entrepreneurs across many fields have not been absent of challenges; as expected. Embarking in male dominated industries like technology and engineering to the consultant life of branding, social media and marketing, can present some difficulties in terms of reaching the level of success that is deemed worthy.

In our careers, especially those of us that are small business owners and bosses, it is important to understand that it’s OK to demand the fee that you deserve. Consulting fees are tricky in that you have to narrow down the number that makes sense for the industry that you are in, your expertise and quality of work experience. Your rate or fee can also establish your respect “on the street” and create a reputation for you that can bring in more business.

Here are some points to consider when deciding what you and your company are worth:

1.  Knowing Your Business:

Understanding the effort, work product and customer base of your business is key when trying to solidify a fee. Ask yourself: What are my customers looking for?; What type of work do they need (proposal, social media presence, presentation, etc.)?; and How much time and resources would be needed for a typical project and/or task? These will help you narrow down what may be reasonable based on your field and geographic location.

2.  Freelance / Consultant Fee Types:

  • Hourly – Entrepreneur.com tells us that “To figure out an appropriate hourly rate, you can either use a source like the Careers in Business website to see what consultants earn in your area, or decide how much you’d like to earn in a year and do the math to turn that figure into an hourly rate.”
  • Project – Typically, entrepreneurs work on a project by project basis which includes a set schedule of completion with milestones with a given budget. If this type of fee is chosen, you and the client should negotiate a fixed fee based on the effort needed, length of project and/or your work history. If you are just starting out, expect this fixed rate to be a little lower than your counterpart; do not get discouraged as this experience will build up your resume.
  • Retainer basis – Certain occupations such as attorney, event planner and/or interior designer have a set monthly fee which allows them to be available to work for the client at will during the agreed upon timeframe. As a consultant, many clients may need your expertise at random points throughout their business activities and this method may make it easier to secure your time.

Check out Consultant Journal models and fee calculator to jot down your financial worth as an entrepreneur across these types!

3.  Having the Conversation

As a consultant/entrepreneur, any discussions that deal with payment, contract and agreements should always be face to face initially. This can set the stage for a great relationship. Before you meet your clients, you should already have a pretty good idea of what type of services you can and will provide and the type of rate you have chosen. Conversations with your client will iron out the details. The conversation should allow you to be firm in your demands, realistic with the work you can produce and gain a level of respect that will travel to the potential next client.

Talking, asking and negotiating your fee is tough because it’s essentially an awkward conversation. To avoid this inevitable feeling, do some homework beforehand. Negotiations may be necessary and once done so, follow up with something in writing so that everyone remains on the same page. Don’t be afraid to demand what you deserve; your fee should increase over time as you gain more experience and build out your client base. People will pay for quality work especially from fearless Womeneurs™ they trust![/vc_column_text][/vc_column][/vc_row]

Alita Hilton-Daniel

by 628 Comments

[vc_row][vc_column][vc_custom_heading text=”Womeneur Spotlight” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]

Take a walk down the path of these entrepreneurs, business owners and progressive women.

[/vc_column_text][/vc_column][/vc_row][vc_row type=”vc_default” bg_type=”image” parallax_style=”vcpb-default” bg_image_new=”id^2985|url^https://www.womeneur.com/wp-content/uploads/2016/04/womeneur-spotlight-alita-hilton-of-silly-simone_650_650_90_ffffffgrayopac-7_s_c1.jpg|caption^null|alt^null|title^womeneur-spotlight-alita-hilton-of-silly-simone_650_650_90_ffffffgrayopac-7_s_c1|description^null” css=”.vc_custom_1461330248953{margin-bottom: 0px !important;}”][vc_column width=”2/3″][vc_column_text css=”.vc_custom_1461329865393{margin-bottom: -2px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”]

ALITA HILTON-DANIELS OF SILLY SIMONE

OWNER[/vc_column_text][vc_separator color=”custom” border_width=”5″ accent_color=”#e3672b” css=”.vc_custom_1460496937176{padding-top: 0px !important;padding-bottom: 0px !important;}”][vc_column_text]Website:

Social Media: [dt_social_icons animation=”none” alignment=”default”][dt_social_icon target_blank=”true” icon=”facebook” link=”http://facebook.com/sillysimone” /][dt_social_icon target_blank=”true” icon=”twitter” link=”http://twitter.com/thesillysimone” /][dt_social_icon target_blank=”true” icon=”instagram” link=”http://instagram.com/thesillysimone” /][/dt_social_icons][/vc_column_text][/vc_column][vc_column width=”1/3″][vc_single_image image=”2984″ img_size=”full”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Alita Hilton-Daniels is the creative force behind Silly Simone, the beautiful African-inspired handmade jewelry company. As a designer, Alita found a way to merge her talent with a customer base that is in love with bold, colorful and quality “statement” pieces that can fit across many styles. The first Silly Simone piece began back in 2013 in Brooklyn, NY and has grown in to a full collection of unique pieces now available on .

This Womeneur has begun to expand her brand by selling her pieces throughout NYC at shops in museums and libraries as well as styling for celebrities like and .

Alita talked to Womeneur about her career journey and discussed some gems she has learned along the day:

What inspired your journey into business?
My desire to be different and to have things that are different is what made me search deep into my soul for something that I could create that wasn’t available to myself nor anyone else.

What steps did you take to start your business?
I received a lot of help from knowledgeable peers.

What are your biggest fears?
Conforming to the norm.

What do you do to stay motivated when you feel like giving up?
I sit back and take a break. I clear my mind of clutter and get back into the swing of things.

What are your weakness in business and how have you worked pass them? 
Being more professional because I tend to like the creative side of the business.

What’s been most rewarding?
Meeting so many beautiful souls.

Who were you before you started your business?
I think I’m the same person, just a little busier. I’m a free spirit and a loving soul. You can see both of those qualities in my pieces.

If you had to do it again, what (if anything) would you do differently?
I would make sure I was more knowledgeable from the beginning.

What’s one good software or application you cannot live without?
There is none.

What’s your secret to cultivating a relationship between you and your customers?
There’s no secret. I truly care about my customers and the quality of my work. I think they can sense how much I care.

Where do you see your business in 5 years?
In high demand with an understanding that my pieces will always be made by hand and never mass produced.

What are 3 tips you can share with budding and current entrepreneurs/business owners?

  1. Remain focused.
  2. Never give up.
  3. Learn to have patience.

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4 Small Ways to Accomplish Big Goals

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[vc_row][vc_column][dt_fancy_title title=”jabrilfaraj.com” title_align=”left” title_size=”small”][vc_column_text]Why does it seem like we are always waiting for the perfect time to make a move?

We will have a vision for our life and goals to accomplish, but then create the ideal (perfect) circumstances that must happen before we start. I know in my life, I was so guilty of this. I was the Queen of Procrastination. And I would have the most random and ridiculous excuses to justify it:

“Once I get my finances in order, my credit straight, win the lottery and the sun shines for 10 days straight without setting, I will think about starting my business.”

“I can’t start this organization now! I must wait until I finish my 2 degrees to do so.”

Or a more common one: “I will wait until Monday to start working out. I am going out to eat this weekend at my favorite restaurant, and well, you know how that goes.” 

So many dreams have fallen by the wayside because in my mind it was never the right time. This is the mindset that kills dreams.

We are always looking ahead to make big moves and for many people, that day never comes. We have a false belief that life is in our control and that our circumstances (our mundane life) will remain as our daily routine currently dictates. And that as long as we can get this together, then we can make X,Y, or Z move. We fail to realize that life is all about change and something will always come up. Business owners understand this philosophy that something will always come up so the time to do something is now. This is how you develop strength and character. Adopting a do it now attitude will separate you from the pack. How many people do you know that are always “finna do something?” How many of those people that talk the talk actually do it and see it through? I think another reason is because we vastly underestimate ourselves and our current potential. We see our future selves as having more knowledge and more will power to accomplish the goals we have now. This is false. You are absolutely capable of at the very least starting on your dreams. Each day taking it step by step.

So if you have goals to accomplish how does one seize the moment and do what needs to be done? How do you muster up the energy, discipline and motivation to reach for the dreams on your heart?

1. Practice acting on those thoughts that get you closer to your goal and immediately.
I previously watched a Ted Talk and the speaker suggested that from the time of having a thought and the time of action should take about 5 seconds. Wait, wait?! Yes, 5 seconds. This trains you to be a “Do it now, ” person. Most successful people have this embedded in them, hence the reason they are successful.

2. Keep your goals visible.
You don’t need anything fancy here besides paper, pencil and tape. Write your goals down and make them visible for you to refer to everyday, especially when you feel discouraged.

3. Create daily to-do lists.
I swear by this. To do lists break down major projects into smaller ones. It helps you to not overwhelm yourself and keeps you productive. Even if the tasks are little, they are still steps to get you to your goals.

4. Get your rest.
A well rested woman is unstoppable. Getting adequate rest helps you to focus more and to be ready to go in the morning.

In accomplishing our dreams, always remember that the road will not be perfect nor will you have the perfect set of circumstances. The time is going to pass anyway. We might as well let it pass doing the things we love.[/vc_column_text][/vc_column][/vc_row]

How To Become a Financially Wise Woman

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girlsjustwannahavefunds.com

Being financially sound is more than just earning, saving and properly managing your money. There are additional aspects to consider when it comes to thinking about monetary matters. Here are the basics to becoming the financially wise woman you were destined to be:

  • Saving is more than stashing your money in a shoebox:

​Of course, it’s great to have a savings account through a bank, however, there are many ways for you to save what you earn while earning interest. Sites such as mint.com and nerdwallet.com are great online tools for searching for interest-yielding savings accounts such as online savings accounts, CDs and money market accounts.

  • Investing is also a key part of financial growth:

​The thought of investing makes some women’s heads spin but if done properly it can be very lucrative. Once you have satisfied all of your financial obligations, determine if you have any extra or discretionary funds left over. If you do, it is wise to look into investing. Some investment options are: real estate, mutual funds and ETFs, to name a few. Saving for retirement is also a crucial part of investing. Some employers offer 401(k) plans or plans such as IRAs are options you can open up at anytime without the assistance of an employer.

  • Doing research will ensure that you are finding what’s best for you:

Doing research is key when it comes to money matters. Whether it’s reading finance books, articles or attending seminars/classes, it is wise to not only familiarize yourself  with these topics but become well educated. This will allow you to see that money is just a tool and not something to be afraid of.

 

Finding Your Personal Affirmations of Success

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madamenoire.com

As an entrepreneur, we are constantly looking for inspiration to help us stay motivated, stay fresh, and to remind us why we started. In the beginning, when you are working your normal 9-5, than coming home at night to work on your side-hustle/future company and juggling everything else life throws at you, it can become overwhelming.  In the midst of all the craziness, I try to find small “affirmations of success;” the mottos or stories from my life or from those that I admire that can shift my mental state from exhausted and overwhelmed to encouraged and energized. Often, these “affirmations of success” helps to clear my creative mind and redirects me towards my goals giving me the space and opportunity to know that my dreams are not only real but attainable!

There are tons of ways to stay motivated but here are a couple of my favorite people and mottos that help to keep me on track:

Ursula Burns, Chairwoman and CEO XEROX

Being the 1st African American woman to run a Fortune 500 company is inspiration in itself but Ursula Burns gives me inspiration by her ability to overcome an upbringing that was not paved with gold. Someone sent me a brief video of Burns giving a speech at a YMCA women’s luncheon held about 5 years ago where she spoke about being raised by a single mom. Here is the piece of advice her mother instilled in her based on growing up very poor:

Where you are (economically, socially, etc.), is not who you are. If you are in a bad place it’s only temporary and it shouldn’t change the core value of what you can bring to the world.

The last part struck a chord with me and it should too with many of you entrepreneurs – “it shouldn’t change the core value of what you can bring to the world.” It’s easy to fall in to the trap of feeling discouraged because life has not afforded you “a seat at the table” from birth. To see an example of a woman of color who believed she can be anything let alone the CEO of XEROX shows that we all have something to offer; we just have to believe that who we are plays an important part of becoming a success in whatever career we choose to follow.

Oprah Winfrey (Auntie O) – Media Mogul

During the 2013, Harvard University commencement speech, Oprah, Winfrey was the keynote speaker and her words were, of course, inspirational. She talked a lot about her fear of preparing for this speech and how much failure played a role in her confidence of addressing the graduates on that day. Here is what she said about failure:

“It doesn’t matter how you may rise because at some point you will stumble. If you are constantly pushing yourself higher and higher, {it’s inevitable} that you will, at some point, fail. But when you do remember this there is no such thing as failure, its just life moving us in to another direction….its ok to feel bad. Learn from every mistake. They are there to teach you and force you to be more of who you are. Figure out what is the next right move. The key to life is to develop an internal moral GPS that can tell you where to go.”

Wisdom! Oprah, like many other successful people, has been very upfront about their failures and this, for me, is motivation because in the struggle is where the growth happens Entrepreneurs need to know that the people they admire, have once felt overwhelmed, have once been discouraged and was able to become successful regardless.

What are your “affirmations of success?” How are you pulling inspiration in to your life to stay motivated?

 

Building Your Personal Brand

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d11consulting.com

Personal brand, reputation, expertise, and experience are the terms that have evolved over time when evaluating a person and what they bring to the table in their career and what they can contribute.  These words also reflect how someone would determine whether or not you qualify for a specific job or role.  At a time where social media essentially helps the world go around, your personal brand is key.

Simply put, branding is how you present yourself to others.  If you want to grow professionally, whether it be as an employee or an entrepreneur, personal branding is essential because it allows you to stand out in a crowded marketplace.  Most importantly, personal branding allows you to control how you are perceived by others.  Whether you’re interacting with someone online or in person, a strong personal brand will help you make a memorable and positive impression.

Your personal brand is not just exclusive to your online presence, but to your offline presence as well.  After all, in order to be successful, networking and being able to communicate with people are keys components that contribute to others entrusting their ability to work with you and value your expertise.

There are several factors that should be considered in not only developing your personal brand but expressing it for others to see.  Your brand should be authentically who you are, what you value and what you seek to accomplish.

While there are many ways to present your personal brand, these key elements should get you started:

Elevator Pitch

Your elevator pitch is the most succinct way to communicate your purpose, your talents and the mark you want to leave on the world.  We are at a time when audiences have very limited attention span, therefore it is important that you are exude confidence and you can get to the point when speaking to a prospective employer or customer as to why you are the best fit.

Online Presence

It is no secret that a person who is going to invest in either a future employee or business, will use Google to research whether or not they are qualified and a person with whom they would want to work with.  With that said, your online presence should not only allude to your qualifications and expertise, but give an indication as to the type of person you are.

Does your online presence show you to be a person of integrity or someone who does not act in a respectable manner?  If you are an entrepreneur, does your online presence match the business you offer?  For example, if you are a health and fitness trainer, we should expect to see elements of healthy eating and exercise within your social media post and you living the life that you want others to believe.  While there is the element of work-life balance, it is perfectly fine to post your tasteful vacation pictures or enjoying your time with friends.

Additionally, anyone who wants to have a meaningful career, should have a LinkedIn profile that outlines your experience and goals.  Your profile can also be used as a tool to network with others in your current field or desired field.  This tool can also be used to post subject matter that falls in line with your expertise or interact in discussions that can ultimately illustrate your expertise and contribute to building your network.

Networking

There are so many ways to network and meet with like minded professionals.  Some of these include workshops, national conferences and other local events such as meetups.  These opportunities not only allow you to meet and form connections with potential partners, but you are able to continue to learn about your particular industry as well as project to others your commitment to your career.

Your personal brand allows people to trust that you are someone that they would want to work with professionally and that you have knowledge of your field.  It should be ever evolving, but staying true to who you are and the values you possess as you grow professionally will always be important.

 

Nnenna Stella

by 773 Comments

[vc_row][vc_column][vc_custom_heading text=”Womeneur Spotlight” google_fonts=”font_family:Open%20Sans%3A300%2C300italic%2Cregular%2Citalic%2C600%2C600italic%2C700%2C700italic%2C800%2C800italic|font_style:400%20regular%3A400%3Anormal”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]

Take a walk down the path of these entrepreneurs, business owners and progressive women.

[/vc_column_text][/vc_column][/vc_row][vc_row type=”vc_default” bg_type=”image” parallax_style=”vcpb-default” bg_image_new=”id^2981|url^https://www.womeneur.com/wp-content/uploads/2016/04/womeneur-spotlight-nnenna-stella-of-the-wrap-life_650_650_90_ffffffgrayopac-7_s_c1.jpg|caption^null|alt^null|title^womeneur-spotlight-nnenna-stella-of-the-wrap-life_650_650_90_ffffffgrayopac-7_s_c1|description^null” css=”.vc_custom_1461329113904{margin-bottom: 0px !important;}”][vc_column width=”2/3″][vc_column_text css=”.vc_custom_1461328717636{margin-bottom: -2px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”]

NNENNA STELLA OF THE WRAP LIFE

OWNER[/vc_column_text][vc_separator color=”custom” border_width=”5″ accent_color=”#e3672b” css=”.vc_custom_1460496937176{padding-top: 0px !important;padding-bottom: 0px !important;}”][vc_column_text]Website:

Social Media: [dt_social_icons animation=”none” alignment=”default”][dt_social_icon target_blank=”true” icon=”facebook” link=”http://facebook.com/thewraplife” /][dt_social_icon target_blank=”true” icon=”twitter” link=”http://twitter.com/shopwraplife /][dt_social_icon target_blank=”true” icon=”instagram” link=”http://instagram.com/thewraplife” /][/dt_social_icons][/vc_column_text][/vc_column][vc_column width=”1/3″][vc_single_image image=”2980″ img_size=”full”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]A woman’s hair is essentially her crowning glory and hair accessories, such as hair wraps, have transformed from a bedtime necessity to a great addition to an amazing outfit. The online shop, is helping to highlight many looks with colorful hand printed and handmade African Head Wraps and other unique products.

The online store was launched in January 2014 by Nnenna Stella and the Company’s mission is to its customers “find inspiration to be more creative and expressive in your everyday life.” The head wraps from The Wrap Life are unique, bold and functional. Each product is made with love for the woman who is a queen in her own right and looks for pieces to express her unique style.

Stella took some time to share with Womeneur her career journey and some important components of her success:

What inspired your journey into business?
I wanted to create something for other women that they’d find useful.

What steps did you take to start your business?
I did a lot of research and planning.

What are your biggest fears?
I don’t currently have any.

What do you do to stay motivated when you feel like giving up?
Sleep.

What are your weakness in business and how have you worked pass them? 
Starting too much at one time. Prioritizing has been a great solution.

What’s been most rewarding?
Helping women feel confident.

Who were you before you started your business?
The same person. My business simply gives me more ways to express and discover my capabilities.

If you had to do it again, what (if anything) would you do differently?
I would try new things more often and honor my intuition.

What’s one good software or application you cannot live without?
Photoshop.

What’s your secret to cultivating a relationship between you and your customers?
Transparency.

Where do you see your business in 5 years?
I’m still perfecting the picture. Honestly, it evolves and shifts from time to time. In 5 years, The Wrap Life will have helped thousands of women feel amazing, creative and confident.

What are 3 tips you can share with budding and current entrepreneurs/business owners?

  1. Start where you are with what you have. If you wait until you have everything you need, you’ll never start.
  2. Be kind and patient with yourself.
  3. Tell people exactly what you need from them.

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Transform Fear Into Action: Know Your Credit Score

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There is nothing more invigorating than knowing your financial blueprint.  Knowing where you stand financially is a powerful first step in removing debt, increasing your credit score, investing in your future self and most importantly, it’s the first step towards piece of mind.   For many people looking at their credit report is like pulling teeth and people are often scared of what they may uncover.  I’m here to share how knowing the details of your credit report is personal power.

Earlier this month, I shared how viewing your finances and creating a budget is a necessary step in order to see how you spend your money.  Once you have a budget in place, the next thing to do is print out your credit report from all three agencies Equifax, Experian and Transunion.  What you may not know is thateveryone is allowed one annual free credit report, which includes your fico score.  Are you sure you know where to go and what to look for once you have your report?  Here are a few things to look out for while reading over your report:

Where to find your credit report:

  1. Are you a credit card user? If so, many creditors charge their users a small monthly fee for credit alerts, which advises  when there’s fraudulent activity on your card.  Often your credit card statement will highlight this charge from a third party company.  What they don’t tell you is that this monthly fee also allow you access to their website and obtain your credit report and analysis profile for no additional cost.
  2. CreditReport.com, CreditKarma.com, MyFico.com and FreeCreditScore.com are all reputable third party credit agencies that provide through credit analysis, debt repayment calculators and your fico score.
  3. Go straight to the bureau for your score.  Your fico score is a combination of reporting to all three agencies, so why not go straight to their sites and obtain your report.  Find them at Equifax.com, Experian.com and Transunion.com

Your reputation is like a credit score.  Everything you do can affect it -Michelle Parson

Now that you have your credit score and you know where you stand financially.  Use this helpful diagramCredit Score & Fico Score Guide 101 to see what are your next action steps to establishing the financial future you can be proud of.  It’s surely not too late to make a change. By printing out your score you have already transformed your fear into action.  Can’t wait to see you guys back next month so we can continue the journey of securing a financially sound future!