Become more understanding of your creditworthiness
FICO Score is a credit score created by the Fair Isaac Corporation (FICO). FICO Scores are the most widely used credit scores, with 90% of the top lenders in the United States using them for their lending decisions. FICO Scores range from 300 to 850. Scores from 300 to 579 are poor, 580 to 669 are fair, 670 to 739 are good, 740 to 799 are very good, and 800 to 850 are exceptional. If you are in the market for a major purchase such as a car or home, you should be familiar with your FICO Score, especially the…
Investing for the long term does not have to be complex
Let’s say that you are not interested in conducting fundamental and technical analysis to discover the individual companies you will invest in for the long term. You want to put your money into ETFs monthly that you are comfortable with because they cover a wide range of assets, and the ETFs themselves are managed by one of the largest asset managers in the world. I want to let you know that you can happily do exactly that. …
Make understanding your money easy for yourself
Budget is a word that most people avoid. I get it. It can be time-consuming and feel like a waste of your time when it comes to creating a budget. I want to let you know that there is a way to simplify creating a budget so that you can truly gain an understanding of how money flows into and out of your checking account(s) monthly. That simple way involves creating a five-column chart (either in a spreadsheet or on paper) with the following categories:
1. Income
2. Expenses
3. Savings
4. Investments
5 Discretionary
1. Income
When it comes…
A representation of potential NASDAQ 100 members
The NASDAQ 100 is a stock market index of the 100 largest non-financial companies listed on the NASDAQ stock exchange. It is commonly known for tracking the performance of technology-based companies due to its heavy weighting towards companies such as Apple, Microsoft, Amazon, Facebook, Tesla, Alphabet, and NVIDIA. To gain exposure to the NASDAQ 100 via an ETF, QQQ and QQQM are the two options. When it comes to gaining exposure to the next potential members of the NASDAQ 100, the ETF that provides that exposure is the Invesco NASDAQ Next Gen 100 ETF (QQQJ).
QQQJ is an ETF based…
The future of financial services is here
Financial technology (Fintech) is a term used to describe new technologies that seek to improve and automate financial services for a more efficient experience. Fintech has led to major innovations over the past decade, such as simplifying investing in the stock market, speeding up online payments, and simplifying online lending. According to a recent report by Market Data Forecast, the global fintech market is expected to grow gradually and reach a market value of approximately $324 billion by 2026, growing at a compound annual rate of about 23.41% over the forecast period 2021–2026. …
Be responsible
When it comes to having multiple credit cards, you must require more responsibility from yourself. Falling into the rabbit hole of consumer debt is something that you never want to face. In making sure that you are responsible and using your credit cards to your advantage, you will always benefit from them, and your FICO Score will benefit too. The following three effective tips will help guide you on using your credit cards wisely so that you can always benefit from them:
1. Always Pay Your Full Monthly Balances
2. Use Your Credit Cards for the Majority of Your Purchases
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Potential opportunity for portfolio diversification
A mid cap company is a company that is generally understood to have a market capitalization between $2 billion and $10 billion. When it comes to a mid cap ETF, that is not always the case, with some companies in mid cap ETFs having market caps as high as $60 billion. When considering that major ETFs that track major indices like SPY and QQQ are heavily weighted towards mega cap companies, companies with $200+ billion market capitalizations, it helps make more sense why mid cap ETFs contain companies with larger market caps.
Digital identification
A non-fungible token (NFT) is a cryptographic asset on a blockchain with unique identification codes and metadata. Essentially, every single NFT is unique in some form or fashion. NFTs can be used to represent items such as artwork, music, and trading cards. NFTs are most prevalent on the Ethereum blockchain, with them either coming from the ERC-721 or ERC-1155 standard. The following three points will help to simplify NFTs further:
1. Fungible vs. Non-Fungible
2. NFT Examples
3. The Importance of NFTs
1. Fungible vs. Non-Fungible
To further understand NFTs, let’s break down what fungible means. For something to be…
Gain exposure to high growth potential
A small cap ETF is an exchange-traded fund that is composed of smaller market capitalization companies. The academic definition of a small cap company is a publicly traded company with a market capitalization of $300 million to $2 billion. When it comes to small cap ETFs, that definition is stretched, with some companies having market capitalizations of up to $20 billion. …
Know what to do if you want to increase your credit limit
When it comes to getting a higher credit limit on a credit card, it can be beneficial or harmful to you, depending on your financial responsibility and how long you have had the card. If your income has increased, you pay off your full statement balance every month, and you have had the credit card for at least a year, your chances of getting a credit limit increase improve significantly, but there is no guarantee. If you believe that you more than qualify for a credit limit increase, the following four items represent your options:
1. Wait for an Automatic…
