Category Archives: Personal Finance Success Habits

Learn about the actions that you can take today to achieve financial success in a much more efficient manner

Home Ownership & Wealth Building

Posted on by TheWealthIncreaser.com

Learn how you can use home ownership effectively to build wealth more efficiently…

In the current economy there are many who are facing home ownership difficulties due to COVID-19 and the economic downturn that has occurred.

Even so, there are still ways that you can build wealth through home ownership and in this discussion we will address ways that you can use home ownership to build wealth and reach a level of success that can make life more enjoyable for you and your family.

As the creator of TheWealthIncreaser.com gears up for the 2020 tax season the thought of home ownership and how you can use it to build wealth continued to enter into the atmosphere whether from emails from around the world or client contacts at the office.

By mentally grasping the following paragraphs prior to purchasing your home you can position yourself and your family for more wealth building success and a more successful home ownership experience at the various stages in your life.

Make sure you have at least 15 minutes available as this discussion is longer than most and you will have the opportunity to frequent very important links that can put you on a more prosperous path and your time spent will further position you for a lifetime of wealth building success.

 

You must purchase your home with the end goal in mind

It is important that you begin your home purchase by knowing that you will need to have a down payment and pay closing costs.  You must also be aware of what you plan to do at the end of your home ownership period prior to your home purchase.

Although life is unpredictable to a large extent, you still want to go into your purchase knowing your intentions as to how you will transfer your home at the end of the desired period of your home ownership.

What you really need to know:

Credit Sore is used by lenders to rate your credit and ranges from 300 to 850.  The higher your credit score–the better your mortgage interest rate–generally speaking.

Down Payment is the amount that you will put down on your home purchase to help reduce the loan amount and normally range from 3% to 20% but can be as low as 0% to as high as you want to go as long as it is less than 100%.

Closing Costs are costs that you will have to pay to close on your home and they are determined by the type of loan and lender that you choose, along with seller contributions that were negotiated.

Refinance is when you go to a lender and redo your loan for a lower interest rate and possibly shorter loan term and can possibly help you save thousands over the life of the loan.  It is important that you “run the numbers” prior to a refinance to ensure that the new loan will benefit you in a way that is more beneficial to you–not the lender.  Your credit would be pulled if you were to refinance your loan.

Cash Out Refinance is when you refinance for more than your current outstanding loan balance (your credit would also be pulled) and use the cash for other purposes.  If you use the proceeds for Housing Repairs you can deduct that usage amount (interest portion) on your federal tax return.  Many lenders will limit the amount of your refinance at 80% of your homes market value.

Home Equity Loan or Line of Credit (your credit would also be pulled) is when you obtain a home loan or credit line using your home equity as collateral and it too would be deductible (interest portion) up to a limit if you use the proceeds for home repair.

Loan Modification is when you modify the terms in your loan agreement and in many cases a modification does not require the use of your credit score.  This is a process that is often used when there is a layoff or change in income and you desire to hang on to your home in spite of difficult times.

Rental is the process of renting a room or your entire house for a period of time where you collect rent and include the gross receipts on your tax return and deduct rental expenses (possibly including mortgage interest and depreciation) on your tax return and that will normally provide tax benefits to you on the front end. 

Your gain from the sale of rental property would normally be taxable.  At the time of sale “recapture” of the depreciation that you claimed (or failed to claim) will normally be due, thus reducing the amount of the sales proceeds at the time of sale or once you file your federal taxes.

Sale is when you sell your home and hopefully for a profit.  You are entitled to a Tax Exclusion from sale of $250,000 on your personal residence if you are single or $500,000 if you are married if you meet the requirements.

Will or Estate Planning is when you leave the property for a loved one or charitable organization as outlined by you.

Emergency Fund is an account that you should have such as savings or money market account that you can tap into when emergencies occur.  You want to properly fund this account as soon as you are able to do so as that account can help you  avoid the need to  borrow or tap into your retirement accounts.

Cash Flow is knowing what you have left over after payment of your monthly expenses so that you can live at an expected level of comfort–and it is important that you know your cash fl0w prior to purchase.

 

You must know how to use the tax advantages of home ownership upfront

There are many tax advantages to home ownership and it is important that you are familiar with them all as you don’t want to miss out on potential or actual tax savings by not being aware of your options.

By knowing the tax advantages of home ownership, you are going into your home purchase with “your eyes wide open” as opposed to merely going through the motions.  You are positioning yourself and your family for a lifetime of success as opposed to not understanding what is in store for you.

What you really need to know:

Federal & State Taxes can possibly be reduced due to home ownership as mortgage interest, property taxes and possibly mortgage insurance can all be deducted.

Points or loan origination fees (pre-paid interest that you paid to lower the interest rate) that you paid may also be deductible, therefore you may have to take the closing documents in the year after your home purchase to your tax professionals office to ensure that you get this tax deduction, as it is often overlooked by many new home buyers and tax professionals alike.

Property Taxes will help fund government operations and you can deduct them on your taxes up to a limit if you itemize on your federal tax return.

State–County–City and School taxes are normally included in your property tax payment.  Bonds that are issued by your locality are also often included.

Special Assessments are an additional form of tax for improvements near your home–such as sidewalks, sewer etcetera that you might possibly have to pay–however they would generally not be deducted unless you possibly had an office in the home or you used your property for rental purposes.

Homestead Exemptions are available in most states (you normally must be an owner/occupant) and they would have the effect of lowering your property taxes.  You generally have to sign up at the local or county level during a designated period after your home purchase to be eligible.

IRC Code “1031 Tax Exchange” is an option other than selling where you can possibly avoid or defer taxation on like-kind property.  You may have to convert your home to rental use prior to using a 1031 exchange as the property must be business or income producing.  If you decide to rent your property(s) in an effort to build wealth or you do a quick turn of your property in an effort to build wealth there are more concerns such as basis, gross rental receipt, depreciation, material participation and other areas of concern that you may need to address if you desire to build wealth more efficiently–therefore record keeping is very important.

IRC Code “121 Tax Exclusion” from the sale of your home up to $250,000 if you are single or $500,000 if you are married are still on the books and you can use this tax break to build wealth if you use it appropriately.  You must occupy the property as your primary residence in 2 of the past 5 years to qualify and this tax exclusion can only be used every 2 years.  Many  clients of  TFA Financial Planning have effectively used this approach to build wealth and reach other goals and you have the opportunity to do the same.

 

You must know the true cost of home ownership upfront

In addition to your loan that contains principal and interest you will have taxes and insurance and possibly HOA fees.

Furthermore, you will have to budget for monthly utility payments and possible repairs.  It is imperative that you create a properly funded emergency fund if you have not done so already.

What you really need to know:

PITI stands for principal, interest, taxes and insurance and you will have to pay all of that if you take out a loan on your home purchase in almost all cases. 

If you take out a loan, hazard insurance (in case your house burns down the lender wants to have recourse) will be required.  If you purchase with cash you have the option not to purchase insurance, however it is normally in your best interest to do do.

PMI or MIP  which is insurance that protects the lender in case you default would be included if you put less that 20% down and would be clearly outlined on your monthly mortgage statement.

HOA Fees or Dues are home owner association fees that some subdivisions, townhouses and condo associations charge monthly, quarterly or annually for varying degrees of services or amenities that you will have access to.

Maintenance includes everything from yard maintenance to repairing or replacing your HVAC system to everything in between and outside of your house that may need repairing including roofing, siding, gutters, soffits, plumbing, electrical and appliances, therefore you must budget for maintenance costs.

Monthly utilities include gas, electric, water, cable, garbage and other fees depending on your locale or subdivision.  If you are part of an HOA, some of those fees are sometimes included in the HOA payment.

 

 

Conclusion 

It is very important that you start your home buying process by beginning (know what you plan to do after your home purchase when you decide to sell–prior to your home purchase) with the end in mind so that you can build wealth more efficiently.

You want to purchase in an improving neighborhood with strong schools and the amenities that you desire in close proximity.

Seller financing and other creative ways of pursuing home ownership is always an option–but should be analyzed and pursued with great caution!

Also, cash purchase is always an option if you find yourself in the fortunate position to utilize this option.  If you are a handyman or have building skills you can often find bargain properties that you can rehab and live in or sell at a later date and that can in many cases lead to a large financial windfall for you and your family.

For those who lack those skills you can find bargain properties and use FHA 203k rehab loans or Fannie Mae rehab loans to transform an outdated property into one that will work for you and your family.

Use your imagination to find new and more rewarding ways of building wealth through home ownership based on your unique skills and talents.

In addition, it is important that you know the bankruptcy exclusion amount in the state that you live in so that you know upfront what you need to do to keep your home in case you face financial difficulty.  In some states 20% of your home equity may be exempt from bankruptcy filing.  In Florida 100% of your personal residence may be exempt from bankruptcy filing.

Refinancing and loan modifications are other ways that you can use to possibly retain possession of your home if you run into financial difficulty and they must also be a part of your consciousness as well.  Always realize that “timing” is critical when considering whether you need to file bankruptcy, refinance or modify your loan as you don’t want to “deplete your savings and retirement accounts” and still end up filing bankruptcy, refinancing or modifying your loan.

Your goal should be to avoid tapping into those accounts if at all possible, however if you need to pursue those options, you want to do so at a time that works to your and your family’s advantage–not to the advantage of those who have no real concern for your or your family’s  future success.

By landing on this page you have put yourself in a far better position than most first-time home buyers (or any home buyer) and it is the desire of TheWealthIncreaser.com that you will use this discussion as a stepping stone to achieve optimal wealth building success throughout your lifetime.

All the best to your home ownership success…

 

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Credit Tiers & Wealth Building

Posted on by TheWealthIncreaser.com

 

Learn why understanding “credit tiers” can help you fly at a higher level as you increase your credit score, build wealth and achieve more…

 

When it comes to credit scoring there are tiers or ranges that are better for you when it comes to getting loans at a good or the best rates when dealing with creditors.

 

Your repayment habits that you have throughout your lifetime helps build your credit file and hence your credit score.

 

The more responsible you are—the higher your credit score and the greater the probability it is that you will get a loan at a good or the best rate.

 

It is very important that you manage your credit and financial affairs at a level that is the best that is within you! 

 

By doing so you will be able to obtain credit in a way that is best for you and your family throughout the period in your life that you desire–or have a need to use credit.

 

Credit scores fall into 3 different ranges or tiers that lenders use to grant credit and the higher you fall in a credit range or tier, the better your credit terms in most cases.

 

 What is a Tiered credit score?

 

A tiered credit score falls into “3 ranges” and they are used by creditors when it comes to credit decisions from credit cards, auto loans, home loans, student loans and many other credit and consumer loans that are of a certain type, along with insurance and employment purposes.

 

Tier 1 credit cards are for people with “excellent” credit (750 and above).

 

Tier 2 credit cards require “good” credit and falls in the 700 to 749 range on the standard 300-850 point scale.

 

And Tier 3 credit cards are for “fair” credit and falls in the 640 to 699 range on the standard 300-850 point scale.

 

In addition to getting the best interest rate on credit cards, the higher your credit tier, the better the chance that you will get the best rate on home loans, student loans, auto loans and many other credit and consumer loans that are of a certain type, along with insurance and other purposes that you may have where your credit profile would be used.

 

How lenders rate credit…

 

Lenders must evaluate the risks of lending money to you and generally follow the same guidelines to evaluate a borrower’s creditworthiness.

 

By knowing what they evaluate at the earliest time possible you can put yourself in a better position for success throughout your lifetime.

 

In addition to the “5 credit factors” that will be presented later in this discussion, a creditor usually looks at three factors known as the “three Cs” and also known as Capacity, Capital, and Character when evaluating you as a credit risk.

 

  • Capacity is your present and future ability to meet your financial obligations.  Some of the areas examined would be your work history and the amount of debt that you already owe and that would be used to determine your ability to repay.

 

 

  • Character  is your trustworthiness and promptness in paying your existing bills and other debt.   Your credit history in a real sense defines your character whether you believe it is fair or not, as many lenders look at your past payment habits to determine the likelihood of future repayment.

 

In short, lenders are looking at how responsible you have been in your past when utilizing credit and accumulating assets!

 

The 3 C’s show in a real way whether you have the capacity, capital and character that is required of you when lenders are determining your ability to repay loans of various types.

 

In the past the “three Cs” was all that was needed to get a favorable decision on a loan, but in today’s information age, much more is required, such as a credit report(s) and credit score(s), and the higher you fall in the credit tier range with your credit score–the better your chances are to obtain a loan at a good or the best rate.

 

Your credit report represents a long list of your payment history, credit accounts, and other information.

 

Your credit reports are available for free at annualcreditreport.com, however your credit score is not included, and would normally have to be purchased.

 

Most importantly, you must understand what makes up your credit file and credit score—and what the major criteria is that goes into your FICO score.

 

The FICO score is named after the company that developed it—Fair Isaac and COmpany and you can get that score for a stated fee at (www.myfico.com).

 

The score is a three-digit number that falls between 300 and 850 and the higher your number, the more confidence lenders will have in your repayment ability.

 

Although other companies provide credit scores, the FICO score is the most prominent score used in the credit industry.

 

Your score will fall into a basket with other scores and it is important to know that generally more than 60% of people will have scores of 700 or more—therefore if your score is below 700, you have work to do if you desire to get in the TIER 1 range.

 

At 720 or higher (depending on the lender and type of loan), you would be considered a safer risk and you would generally receive a loan without a problem and also at a lower interest rate.

 

By gaining mastery of your credit at this time you can position yourself and your family for a lifetime of success.

 

Your FICO score is weighted as follows:

 

  • 35% Payment history.  Having a long history of making payments on time and no missed payments on all credit accounts is very important and one of the top things that creditors look for.

 

  • 30% Utilization or amount owed.  The amount that you owe relative to all of the credit that you have available is your overall utilization rate.  If you are very close to the limit on all lines of credit, you will be deemed a potential risk in the ability to repay your debt on time with many lenders.

 

  • 15% Time length of credit history.  In general, you want a credit report containing a list of accounts that have been opened for a long time–as that will help your credit score.  Your credit score would be enhanced by having older account(s) and the average age of all of your accounts would be weighted more favorably as well.

 

  • 10% Type of credit in use.  Your credit type or mix of credit cards, retail accounts, finance company loans, auto loans and mortgage loans are evaluated and weighted when your credit score is analyzed.

 

  • 10% Inquiries or new credit.  If you plan on opening several new credit accounts in a short period of time–use caution as that can result in the lowering of your credit score.  Depending on your future goals, you may want to ease into the process of opening new credit.

 

Multiple credit report inquiries can represent a greater risk, but multiple inquiries “do not” include requests made by you, an employer, or a lender who  sends you an unsolicited, “pre-approved” credit offer.

 

This type of inquiry is called a soft inquiry and would have little to no effect on your credit score.

 

In addition, to compensate for rate shopping, your credit score generally counts multiple inquiries of the same loan type in any 14-day period as just one inquiry.

 

General Guideline of How Lenders Rate Credit Scores

 

TIER 1 750 or higher is “excellent”—some lenders consider 720 or higher as tier 1

 

TIER 2   700 to 749 is “good”—some lenders consider 660 or higher as tier 2

 

TIER 3     640 to 699 is “fair”—make plans to improve

 

  • 720-higher A

 

  • Take your choice of loans at the lowest cost, including risk-based loans such as stated Income and Interest Only.  Be aware that stated Income and Interest Only loans are more difficult now even with scores over 720.

 

  • 620-719 A-

 

  • You qualify for conforming, conventional loans.  You’ll pay slightly more for risk based loans.

 

  • 600-619 B

 

  • You may take a FHA/VA loan or even a low-down payment loan with desktop (automated) underwriting.  FHA/VA now require a middle score of 620 or higher with many lenders.

 

  • 575-599 C

 

  • You can qualify for a sub-prime loan, but your interest rate will be significantly higher.  Expect a prepayment penalty.

 

  • 500-559 D

 

  • Most lenders will deny your loan, however there are a few “hard money” sub-prime lenders who will approve a loan if you have sufficient down payment.  Mortgage brokers have access to these wholesale lenders.

 

  • Only the rare sub-prime lender will approve a loan for someone with a score below 500, and a large down payment will be required—usually 25 to 50 percent.

 

  • Other conditions will apply as well.

 

  • Other Key Tips:

 

  • If your home is foreclosed—5 year moratorium on purchase of another house with many lenders

 

  • After Bankruptcy Discharge (Chapter 13) you can apply for a loan if middle score is 620 or more.

 

  • Chapter 7 with no foreclosure, FHA loan available after 3 years with many lenders.

 

  • Judgments on your credit report.  Judgments must be paid.

 

  • Judgments not paid will stop the progress of your score going up.

 

Closing Thoughts

 

It is important that you know prior to applying for a loan the importance of why you need to understand your credit position and how you can improve your credit position so that you can get a good—or the best loan available based on your credit profile.

 

By keeping in mind the above credit tiers, and knowing how to use the five credit factors to your advantage, you put yourself in position to manage your credit more effectively and efficiently at the various phases of your life.

 

You can make your stay on planet earth a more joyous occurrence by using credit wisely and mapping out your future with more clarity–so that you can go where you need to be, regardless of the chaos that you now see!

 

Even though you may take small steps now to achieve what you desire, your consistency in action will lead to you flying higher and achieving from wire to wire.

 

Now is the time that you put into motion ways to manage your credit at an optimal level and achieve the goals and dreams that are uniquely your own.

 

All the best to your credit management and “credit tier” success…

 

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Identity Protection & Wealth Building

Posted on by TheWealthIncreaser.com

Learn why you must keep your guard up against identity thieves and scammers so that you can protect your credit and finances…

 

In the current economy ID Thieves and other scammers are out in abundance and it is up to you to find ways to thwart or prevent their activity from having a consequence in your life.

 

It is important that you realize that over 50 million people in the United States alone have been victims of identity theft and it is imperative that you take steps so that you won’t add to that number in the United States or wherever you may live on the planet!

 

Many identity thieves have your name, social security number and date of birth in spite of you taking appropriate action to protect that information and they may try to open accounts in your name.  In some cases your information was obtained from data breaches and may be bought and sold throughout the world and on the dark web.  In some cases you can use a credit freeze to help prevent others from utilizing your credit, however in most cases that alone may not be enough.

 

You also need to put in place identity protection and credit monitoring measures that can help protect against what others may do to you that can slow down or prevent your dreams from coming true!

 

In addition to common sense measures that you can take, there are many free and paid providers that offer varying degrees of coverage.

 

Paid Identity & Credit Monitoring Services

 

When it comes to paid credit monitoring services there is a huge range in the coverage type and pricing.   You can get monthly protection for as little as $5 per month up to $40 per month and it is important that you know up front the coverage that you are getting and the protection that you need.

 

You can get one, two or three bureau protection from many companies, however if you pay it is normally best that you choose a company that offers coverage from all three credit bureaus.

 

Most companies also offer a host of other services from liability protection to alert notification of any changes to your report(s) as well as family plans.  It is up to you to search the marketplace to find a plan that is compatible for your lifestyle if you now have the discretionary income and you desire protecting your financial position and identity in a more stringent way.

 

Self-Monitoring of Your Credit & Finances

 

You can also self monitor your credit yourself at no cost by choosing free companies on the web or using credit card companies, including companies that you may now use at this time.

 

You can self monitor by going to annualcreditreport.com (free credit report—once per year from TransUnion, Equifax and Experian)) and myFICO.com—(get your FICO score for a stated fee) and review your credit report(s) and purchase your credit score.

 

You can gain mastery of your credit at this time by knowing the five credit factors and how to use that knowledge to effectively manage your credit at the various stages in your life.

 

In addition, you can monitor all of your financial accounts on your own by looking at your banking activity on a regular basis, signing up for financial alerts on your bank and credit accounts when a certain dollar limit is exceeded, shredding of your mail and particularly identifying information, using strong passwords on your financial accounts, safeguarding important documents and identifying information, changing passwords in a timely manner on a consistent basis and using other common sense measures that come to mind.

 

Identity Theft Indicators

 

When you notice–use of your credit that you did not initiate, loss or theft of your wallet or other personal information, new accounts on your credit report that you did not initiate, home or auto intrusion or any other occurrence involving your identity or finances that  you are uncertain of–you may be a potential or actual victim of identity theft.

 

When that happens you must contact the three major credit bureaus and consider putting a fraud alert (a fraud alert tells creditors to verify your identity prior to issuing credit) on your accounts.

 

In some instances you may have to file a police report!

 

Also be aware of small deposits to your bank account that you are not expecting, as that can indicate that someone is trying to connect to your bank account.

 

If that occurs you may want to close your account(s) and open another one.

 

Conclusion

 

It is important that you take identity protection and financial protection matters into your own hands at the earliest time possible.

 

You don’t want to experience identity theft “and” then (after the fact) get serious about protecting your identity and financial concerns!

 

Now is the time that you effectively evaluate your need for identity protection and credit monitoring services (whether free or paid) so that you can stay out in front of your finances and achieve your dreams in as effective a manner as possible.   In the times that we now live in identity protection measures and monitoring of some type is a requirement if you desire to protect your financial position and achieve more during your lifetime.

 

You possess the power to put in place measures that can help reduce the likelihood of identity theft, and it is you who can use common sense and monitoring services to help secure your financial future in a more enduring way–starting or continuing from this day–to avoid situations where you will be forced to pay!

 

All the best to your identity protection measures and unlimited success…

 

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Thomas (TJ) Underwood is a licensed real estate broker at Realty 1 Strategic Advisors in the state of Georgia and has passed the A+, Network+ and Security+ exams.  He is also a former top producing loan processor and fee-only financial planner.  It is his desire that you find this article useful and beneficial and will lead to you truly attaining the goals and outcomes that you desire.

 

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Pushing Forward & Wealth Building

Posted on by TheWealthIncreaser.com

Learn why you must push forward when tough times happen so that you can build wealth more efficiently…

 

In the current economy or any economy it is important that you have the mindset that you will push forward when adversity and other unwanted occurrences happen in your life.

 

In life there are many variables that are out of our control—even so you must “push forward” and take appropriate action on what you can control so that you can make your life more meaningful and enjoyable.

 

As the election happens and the creator of TheWealthIncreaser.com sits at the airport terminal as a new president is elected in the United States,  reflections were made about the year 2020 and how you can close out the year of 2020 with the mindset that you will not only prosper but you will also pursue what you desire with a higher level of determination and commitment regardless of the political or economic environment that you now face.

 

You can do so in a number of ways in all areas of your life–and when it comes to building wealth you can specifically do the following to achieve at a higher level of excellence regardless of what is happening around you—or to you.

 

 

  1. Determine what you desire most

It is important that you put a plan in place to pursue what you want most out of life.

 

You must have the mindset that says “I will push forward toward my goals regardless of how difficult the route!”

 

Do you know what you desire most or is it a mystery to you at this time?

 

Whether you answered yes or no you must realize that now is the time to “move more forcefully” so that you are in position to do what you desire at the various stages in your life.

 

2.  Know your approach to make what you desire a reality

You must envision in your mind the steps that you will take to achieve your goals.

 

Will you create a budget or cash flow statement so that you can get a clearer picture of where you are now at so that you can have a better picture of where you can go—or need to go?

 

By mapping out your future with an effective approach that you believe in and you feel is doable by you—you start the journey of making your dreams come true.

 

3. Have a comprehensive perspective about your finances and your financial future

Do you know all areas of your finances that must be addressed or have you never given that question serious thought?

 

Even if you have never thought about the question—you can do so at this time and change the direction in your life to that of a straight line where your future outcomes can be more likely to occur.

 

You must look at your finances from all angles and then put together plans to improve when and where necessary.

 

Conclusion

When times get tough as they undoubtedly have—or will at some future date,  you must know deep inside that you can  at this time  push forward and achieve more on a consistent basis.

 

You can do that now by preparing your mind for continuous success and gain the knowledge that you need to succeed in your future.

 

All the success as you push forward to achieve at a level that is your absolute best…

 

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Effort & Wealth Building

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Learn why you must be determined to expend effort if you really desire to build wealth…

 

It is important that you realize that effort will be required from you if you are now serious and sincere about making your wealth building dreams come true.

 

And just as the creator of TheWealthIncreaser.com (Thomas (TJ) Underwood) has used his time for your benefit over a number of months during the COVID-19 Pandemic to contemplate, organize and present the information in 1-2-3 Credit & Me to ensure that you and others who desire real success from this day forward would have access to empowering credit and finance systems that are at your fingertips—and where cost would not be an impediment—so too must you go after what you desire with a high level of effort.

 

While many other authors are writing political books to cash in on the political season the creator of TheWealthIncreaser.com (Thomas (TJ) Underwood) decided that now was the time to provide you and others a way to achieve wealth building success more efficiently.  Not only was that objective reached, but priced at $9.95 for the E-book version—1-2-3 Credit & Me is one of the best values that can be found in personal finance—period!

 

You must realize that it is your responsibility to begin and end your search for answers to your most pressing questions inside of your mind and heart—and then make the best effort possible to make what you desire most happen in real time!

 

Your “consistency in action” can be a major boost to helping you achieve what you desire most, once you determine what you desire most!

 

You must develop the habits that are necessary that provides you the ability to put forth more effort on a daily basis so that you can put into action the steps that are necessary to build wealth in a more enduring way.

 

The three steps below can be a real boost for you if you desire to build wealth and you are willing to put forth the required effort.

 

It is important that you know where you are at financially and therefore you must put the numbers that are relevant as far as your inflow and outflow of cash on a monthly basis is concerned on paper.

 

You can create a budget and know with relative certainty the income that comes into your household and flows out of your household—and thereby put yourself in position to make  moves that  can possibly improve your situation—in many cases substantially.

 

Do you know how to manage your credit in a way that serves your best interest?  Even if the answer is no—you can now change that answer to a yes by mastering the five credit factors and know what to avoid.

 

You must have a practical understanding of how your payment history, credit utilization, type of credit that you have, how far back your credit history extends, and how many inquiries you have affect your credit file and credit score.

 

You must know what entails your finances and then you can put yourself in position to review on a consistent basis.

 

You must look at your insurance, investments, taxes, education planning, estate planning wills, and retirement planning so that you can achieve more and build wealth more efficiently.

 

Conclusion

You must realize at the earliest time possible that effort will be required of you if you desire to make anything meaningful happen in your life.

 

You don’t have to live daily and not know what you can achieve in your future.  You can use a cash flow statement, mastery of your credit and a real understanding of what you can do to manage your finances more effectively to move along in life in a more joyous and rewarding way.

 

You can make it a priority to properly establish an emergency fund at the earliest time possible and reduce your and your family’s financial risks.

 

You can do all that and more and achieve more–starting today!

 

All the success as you expend more effort and achieve at a level that is your absolute best…

 

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Defining Moments & Wealth Building

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Learn why “defining moments” are the time to dig in if you desire to achieve your credit and financial goals efficiently…

 

It is important in the times that we now live in that you re-focus on what is important.

 

With 2020 being a “defining moment” in the lives of many—including the creator of TheWealthIncreaer.com—it is important that you put the right plan in place to move forward toward your dreams.

 

With COVID-19 running rampant in many parts of the world it is important that you put together a plan so that you can not only survive–but prosper and thrive.

 

At this time (a defining moment) the creator of TheWealthIncreaer.com decided that fall 2020 was the time to put forth empowering action steps that you can take right now—so that you along with others who desire credit and finance success throughout their life would be able to do so in as effective a manner as possible.

 

As you move along in life and face adversity there will be occasions when you are forced to look deep within to determine a better path to take in your life.  That inward look could be the defining moment that provides you the inspiration and strength to move forward at a level that is your absolute best.

 

Your decision at this time to go after what you want to occur most could be the defining moment in your life that puts you in position to focus in on your dreams and achieve what you desire to occur most in your life.

 

You should not live daily with the feeling or thoughts that what you desire in your future won’t work out.  Your decision to take a more serious approach and to start now–could be the defining moment in your life where you can put the steps in place and put an effective plan in place that works in your favor as opposed to going about life in a way that is uncertain!

 

You can achieve more and leave a legacy for your family and loved ones.

 

The defining moment that you are facing can make you or break you depending on how you respond.

 

You must get out of the habit of making decisions based on the short term and look further down the horizon so that you can achieve more.

 

What you do after you make a mistake speaks volumes and what you do after you achieve success also speaks volumes!

 

Even though you may be short sighted in your thinking at this time, the following steps can get you started fast on achieving long-term success and could be the defining moment in your life where you decide to  leave all excuses behind and pursue what you desire with a new level of zeal.

 

Step 1

It is important that you define where you are currently at financially.  You can define yourself and not live off of definitions that others assign to you.  By creating a budget or cash flow statement along with other personal finance statements you can get a clear picture of where you are now at so that you can plan better and take action that will lead you to where you need–or desire to be.

 

Step 2

Your desire to attain “mastery of your credit” at this time could be the defining moment where you gain the knowledge to manage your credit effectively throughout your lifetime.  You deserve the opportunity to manage your credit in a way that serves your best interest and you now have that opportunity.

 

Step 3

If you desire to define “your future” you must be able to see your finances in a comprehensive or all encompassing manner so that you can achieve more.  You must at this time look at how your insurance, investments, taxes, emergency fund, education planning, estate planning/wills and retirement planning all interact and can help you  achieve more when done properly.

 

Conclusion

By taking advantage of this moment in time and not letting what may appear to be an unfair situation that has or may occur in your life at a future date deter you or limit your ability to dream big and pursue that big dream–you put yourself in a stronger position for lifelong success.

 

In the final analysis you possess the power to define your future from this day forward!

 

By utilizing the steps above at this time or at a later time you are setting yourself and your family up for lasting success.   You no longer have to  look at your finances as a mess and you no longer have to expect  less.

 

All the best…

 

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Excuses & Wealth Building

Posted on by TheWealthIncreaser.com

Learn how you can fly higher and build wealth more efficiently if you leave all excuses behind…

 

In the current economy it can seem difficult to achieve your dreams.

With COVID 19 running rampant in many parts of the United States and many areas in the World it can often seem impossible or improbable to achieve what you may have planned prior to the COVID 19 economic environment.

Even so, if you leave all excuses behind and you pursue (you must decide to get started) what you desire at your highest level—the success that you desire can still be in your future.

It is important that you realize that adversity of all kinds will occur throughout your lifetime and the sooner that you realize that, the more effective you can be in responding to that adversity.

You can utilize a proactive approach as things in your life improve, along with a mindset of resilience to move forward effectively as you build wealth by doing the following:

 

1) Determine where you are at financially

You can leave all excuses behind at this time by making a real commitment to manage your finances better at this time, and throughout your lifetime.

You can use personal finance statements along with the goals that you desire to occur most, to achieve at a higher level as you move toward the goals that you desire most.

 

2) Know how credit affects you and your family

You can leave all excuses behind by having mastery of your credit and knowledge of how YOU can use credit effectively throughout your lifetime.

You can manage your credit file and credit score effectively if you have working knowledge of how credit works and you apply that knowledge to your unique credit situation.

 

3) Have a comprehensive picture of your finances and financial future

If you approach your finances in a comprehensive or all encompassing manner you can “see the whole picture” so to speak, as opposed to looking at your finances in isolation or in a piecemeal approach.

You must know how your insurance, investments, taxes, education funding, estate planning/wills and retirement planning and the need to create a properly funded emergency fund at the earliest time possible all correlate, so that you can leave all excuses behind–once and for all.

 

Conclusion

It is important that you look deep inside and make the decision to manage your finances at a level that is the best that is within you.

By doing so you make “your path” toward your ultimate success much more likely to come true.

All the best to your path to success as you now know what you need to do—as you pursue what you desire to come true—at a level that is the absolute best that is within you…

 

As added motivation in these difficult times the creator of TheWealthIncreaser.com will leave you with a poem that was inspired by hummingbirds and other birds that were seen this summer that can hopefully inspire and help you move forward in a more efficient manner:

 

Humming Coming at You so that You can make Your Dreams Come True

Mourning dove from up above showing you love

Hummingbird fly’s down low—showing you the way to go

Hawk coming down from up high toward the ground—to inspire you to turn your life around

Mourning dove comes to your fence to show love and recompense

Humming coming at you to ensure that you make your dreams come true

Humming coming at you to make sure you do what you need to do

Thrasher running on the ground trying to urge you to master your credit so you can win

Wren coming in to make sure you are ready to use your pen

Butterflies go high so that you can ask why and put your plan in place to exceed the sky

Wasps come to sting so that you can focus your dreams and be more than it now seems

All this and more is what is in store

Even so pursue what you desire—at a level that will take your success higher—so that you can achieve from wire to wire

Excuses no more—as you soar…

 

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Decision Making & Wealth Building

Posted on by TheWealthIncreaser.com

Learn how you can” turn the curve” and “make better financial decisions” in your life so that you can avoid the risks that have detoured so many…

 

In life there will be many turns and twists that you will have to make and it is you who must put yourself in position to make the optimal or best decision as it relates to your finances and financial future so that you can turn when and where necessary and smooth out the curves that may appear too sharp at this time.

 

While others remain idle or focus on the wrong things, you can in a relatively short time period, work on what you need to do to move toward making your dreams come true.  By knowing where you now stand financially and putting in place systems that will allow you the opportunity to make better financial decisions you can position yourself and your family for a lifetime of success and put yourself in position to pursue what you desire at a level that is your absolute best.

 

Isn’t it time you see your future with the clarity that will allow you to move to action in a manner where you truly believe you will achieve the financial outcomes that you desire!

 

By seriously looking at how you make financial decisions and digging down deep within your heart and mind you can put together a plan that allows you to turn the curve in your financial life and avoid financial strife as you move to action daily without having to think twice!

 

You can implement the following steps in your life at this time to help ensure that you will achieve your financial and life goals in a more timelier manner.

 

Determine where you are at right now…

You must know in “certain terms” the state of your financial affairs and you can do so most efficiently by creating a budget or cash flow statement so that you can get started fast on moving toward the goals that you desire or the goals that will help you achieve at a higher level throughout your lifetime.

 

By knowing your income and expenses you can get to a point where you know if you have discretionary income that will allow you to make better decisions that will lead you toward reaching your goals.

 

Determine how you will move forward…

Once you know your discretionary income and monthly inflow and outflow of funds you can devise the steps that you need to take to reach your goal(s) in a more efficient manner.  Will you utilize credit and cash to achieve what you desire and will you save now to make what you want most occur in your future?

 

Will you utilize written plans and “really think” about your future in a way that says, I am truly sincere in the effort that I will put forth to reach my goals even when twists, turns and curves appear in the horizon?

 

You must determine the best way to move forward based on your money management personality and the goal(s) that you desire most!

 

Determine how you will consistently do and review in order to ensure that your dreams will come true…

Your daily action on a scheduled basis and your desire to achieve at a level that is the best that is within you along with periodic reviews of how you have performed will greatly enhance the likelihood of successfully achieving the goals that you outline.

 

Will you wake up daily, weekly, monthly or annually (depending on your need to do so) and include in your routine a “time frame” to look at your finances from a comprehensive perspective and determine if you can make improvement?

 

Conclusion

By making the decision early on that you will not allow adversity or any other negative factors influence your future in a negative way you can put yourself in position to move forward–starting today.

 

You no longer have to approach the winding roads of life with fear because the success that you desire is now near!

 

It is imperative that you are “clear on your goals” and you “make the decision” at the earliest time possible to “confront your finances” as the decision to do so is often the key decision that you need to make that will take you toward achieving lasting (lifelong) success in all areas of your finances.

 

All the best to your decision making and future success…

 

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Reflections & Wealth Building

Posted on by TheWealthIncreaser.com

Learn about “3 Steps” that you can take to work toward financial freedom…

 

Learn why as you go down the highway of life you must reflect back on your past experiences if you desire to build wealth more efficiently in your future…

 

In life there will be times when you will wonder why the wealth building success that you desire to happen is not happening when you want it to.

 

Even so, you must not complain or be weary.  By reflecting back on the financial decisions that you have made in your past you can set yourself up for a more prosperous future.

 

By reflecting on your past experiences, being more discerning on what you expose yourself to “at this time” and improving on your “mental thought environment” you can put yourself in position for a more prosperous future.

 

Learning from your past through reflection…

The primary purpose for looking back is for improved guidance and direction.

 

Although “do it now” may be your attitude, building wealth at the level that you desire will depend on your current income and expenses on a monthly and annual basis and how effectively you manage and plan for your future.

 

What can you do to change the direction that you are going?  You can prosper if you reflect back and make a sincere decision to achieve at your highest level of excellence now and in your future.

 

Peace, joy and happiness can occur and remain in your life if you learn from your past and make a sincere effort to improve your future.

 

By reflecting back on your money management skills, how you manage your credit and how you manage your finances from a comprehensive perspective you open up real possibilities for achieving real success, now and in your future!

 

Reflecting back on your money management skills…

It is important that you yourself have a meaningful understanding of how you manage your money on a daily, weekly, monthly and annual basis as by reflecting back on how you manage your finances you can determine your money management personality and make improvements where necessary.

 

Your goal must be to achieve at a higher level of excellence when it comes to managing your finances in an overall manner on a consistent basis.

 

In short you want to understand how to manage your finances in a more intelligent, consistent and proactive manner so that you can achieve more during your relatively brief stay while you are here on planet earth.

 

Reflecting back on your credit habits…

Furthermore, you must ensure that you manage the credit affairs in your life in a way that puts you in control–and keeps you in control.

 

By looking back and visualizing how you have managed your credit and looking at your credit in a new and more inspiring way you can enhance your knowledge of how credit works and get to a point where you can use your knowledge of credit in a way that almost effortlessly works for you and your family throughout your lifetime–not against you.

 

Reflecting back on your ability to comprehensively manage your finances…

You must reflect on how you have managed your insurance, investments, taxes, emergency fund, education planning, estate planning/ wills and retirement planning.

 

You can then put yourself in position to learn what you need to learn to increase the likelihood of successful outcomes in the various areas of your finances at the various stages in your life.

 

Conclusion

It is important that you are curious about your finances and you reflect back in the areas mentioned above so that you can achieve more throughout your lifetime.

 

Why live your life daily with anxiety and uncertainty on the inside when you can choose to embark on a highway to success that has fewer roadblocks and a clearer path toward success.

 

And just as the reflectors on your bicycle when you were younger provided protection from others to help keep you alive and help get you to where you desired to go–so too can reflecting back at this time protect you against financial dangers that may occur in your future–to help get you to where you need or desire to be.

 

You no longer have to wonder about what lies in your future if you do what you need to do.

 

You can achieve your dreams (and more) if you decide at this time to seriously address the areas of your finance that you may have neglected in your past.

 

All the best toward your future success…

 

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South Fulton Demographics

Posted on by TheWealthIncreaser.com

Learn about the Demographics of South Fulton so that you can make a “more informed” home buying decision…

 

Many visitors who move to Georgia or who are now in Georgia and want to become a home owner are interested in learning about affordable communities that they can move into in the south metro area of Atlanta.

 

In this discussion we will provide you “access to” demographic data for the South Fulton area so that you can make a more informed decision about your next home purchase in the South Fulton and surrounding area.

 

It is important that you set realistic goals, you know what you can afford upfront, you do your research upfront and you ask and get answers to the right questions “prior to” searching for your new home.

 

It is important that you put a checklist together of what you deem to be the most important amenities in the home that you desire, you know what you can afford (by getting pre-qualified or pre-approved) so that you don’t look in the wrong areas and/or price points and waste your (and others) time.

 

Do you want a fenced yard of a certain size, a garage for 1 car or 2, great schools, privacy from others in the neighborhood, or any other amenity, you (and/or your real estate agent) can narrow down your search and save invaluable time by planning in advance?

 

You can learn more about the home buying process at HUD by going to https://www.hud.gov/topics/buying_a_home

 

The following links will provide you additional information “by zip code” as it relates to crime, schools, home prices and much more in the selected zip codes in the South Fulton area.

 

SOUTH FULTON

https://www.bestplaces.net/zip-code/georgia/collegepark/30337 (College Park–includes parts of East Point)

https://www.bestplaces.net/zip-code/georgia/east_point/30344 (East Point)

https://www.bestplaces.net/zip-code/georgia/collegepark/30349 (College Park–includes parts of Union City & East Point)

https://www.bestplaces.net/zip-code/georgia/fairburn/30213 (Fairburn–includes parts of Union City)

https://www.bestplaces.net/zip-code/georgia/fairburn/30268 (includes parts of Fairburn, Chattahoochee Hills & Palmetto)

https://www.bestplaces.net/zip-code/georgia/fairburn/30291 (Fairburn–includes parts of Union City)

https://www.bestplaces.net/zip-code/georgia/atlanta/30354 (includes Hapeville, College Park & Atlanta))

 

NEARBY SOUTHWEST ATLANTA

https://www.bestplaces.net/zip-code/georgia/atlanta/30331 (southwestern area of Atlanta)

https://www.bestplaces.net/zip-code/georgia/atlanta/30336 (southwestern area of Atlanta)

 

NEARBY DOUGLAS COUNTY

https://www.bestplaces.net/zip-code/georgia/lithia_springs/30122 (just outside of South Fulton in Douglas County)

 

NEARBY FAYETTE COUNTY

https://www.bestplaces.net/zip-code/georgia/peachtree_city/30269 (Peachtree City is in the south metro area of Atlanta but outside of South Fulton in Fayette County)

https://www.bestplaces.net/zip-code/georgia/tyrone/30290 (Tyrone is in the south metro area of Atlanta but outside of South Fulton in Fayette County)

https://www.bestplaces.net/zip-code/georgia/fayetteville/30214 (Fayetteville is in the  south metro area of Atlanta but outside of South Fulton in Fayette County)

https://www.bestplaces.net/zip-code/georgia/fayetteville/30215 (Fayetteville is in the  south metro area of Atlanta but outside of South Fulton in Fayette County)

 

Whether you are a first-time home buyer, a move-up seller or a veteran real estate investor we hope that this page has given you some added insight on your next purchase in this (or other areas or zip codes) beautiful area.

 

Contact us today if you have additional questions or concerns about the South Fulton and surrounding areas.

 

NOTE: If you don’t see the zip code or city that you are interested in you can go to https://www.bestplaces.net/ and type in the zip code or city to get demographic information that may concern you.  Additionally, you can go to Greatschools.com to learn in a more detailed way about schools in the area that you are considering moving into and city-data.com to learn about demographic data from a different perspective.

Also, if you reside in the Atlanta Metropolitan area you can directly benefit from the knowledge, expertise and experience of the creator of this site by scheduling a confidential “in person” consultation today by calling 404-952-9284 or email tj@TheWealthIncreaser.com

 

All the best toward your home buying success…

 

Thomas (TJ) Underwood

 

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