Divine Mind Money Series (Part 5 - Final Entry)

 This is the final entry in the Divine Mind Money Series. The purpose of the Divine Mind Money Series has been to share programs that have helped me in regards to money. It is my sincerest hope that it has been a benefit to each person who has taken the time to read it. I appreciate all of your comments, shares, and follows. Please keep them coming!

First, if you missed the Ask Harv Live Webinar that I posted about in Part 3 of the series, it is now available for replay here Ask Harv Live: Creating Multiple Streams of Income I would HIGHLY encourage you to check it out! T Harv Eker is a straightforward, no nonsense kind of finance trainer, and any suggestion he makes is tried and true, you can believe that! I don't know how long the replay will be available so go watch it now while you can. I'll wait . . . .

The other program I wanted share with everyone in this final edition of the Divine Mind Money Series, is something I'm almost certain everyone can and should take a look at and that is, Credit Restoration.

I use to be terrified to even look at my credit report, I knew it wasn't pretty so why bother myself with the stress of seeing the mess I knew I had created. Well, while that may be true, it is also true that many credit reports contain errors or have items that are misreported. Especially if you have been through a divorce, it's possible you could be paying for your ex-spouse's debts and not even know it. Regardless of your credit situation, credit history is one of the most important things in this country (the U.S.) it determines just about everything including now whether or not you can be hired for certain jobs.

I recently came across a credit restoration program that was unlike any I had seen before. They offer transparent assistance, allowing you to stay abreast of how your credit repair case is progressing, they charge no advance fees to work on your report, you only pay for items that are successfully deleted, updated to positive status or cease reporting, and they offered a free affiliate program which allows clients to earn extra income by sharing the programs with others. The name of the company is Credit MRI and I am both a client and an affiliate. As promised, I have not paid any fees, and my restoration is in the beginning stages of disputes.

 It was very easy to get started with the Credit MRI program, and the short video really explains it all. I have regular contact with the representative working my case and he takes the time to answer all my questions which is great. If you have been wanting to get a handle on your credit, I think this is definitely a service that is worth checking out. Once you get signed up as a client, don't forget to check out the Affiliates page as well. It's a great program that has the potential to be an excellent passive income stream once you get it going.

And so, this completes the Divine Mind Money Series! If you have gotten value from it, I do hope that you will share the posts with your friends on your Facebook or Twitter pages. It has been my great pleasure to share these programs with the public and hopefully we will all be getting our money right soon! Start Now! Take Action! and just Don't Give Up!

Divine Mind Money Series (Part 4)

 Welcome back to the Divine Mind Money Series! The purpose of this series is to share different programs and strategies that have helped me in regards to money. In Part 1, I brought you the Diva Money Club. In Part 2, I shared my investment strategy with Lending Club. I talked about how to cultivate your Millionaire Money Mindset in Part 3. Today is about an important element, that runs hand and hand with your money mindset and that is.... money management habits.

 I'm not going use the foul "B" word that ends in "udget", instead, I'll show you how I've been taught to use what I have and make the most of it. First, I use Mint.com, to track my income and spending. Mint.com was created by the makers of finance software like Quicken and Quickbooks and it gives up-to-date tabs on your money and reports back to you in real time. All you have to do is add your online banking accounts (its secure and encrypted, like I said its from the Quickbooks people) and the site will do the rest. You can also add debts like credit cards, car payments, loan payments, etc., as well as, investments such as those with Lending Club and it will track those as well and calculate your net worth based on the information given.

Once all your information is linked into Mint.com, you can use it to track all your spending, categorize it, and it will enable you to see where your money goes so you can regulate yourself without the pressure of being on a ....yeah you know the word. If you like having a "B word", Mint.com offers a section for you to create one.

The other money management system that I want to share, is something else I learned from T. Harv Eker's Secrets of the Millionaire Mind book and the Millionaire Mind Intensive that I talked about in Part 3 of this series. It's called the "Jars System" but you can use shoe boxes, envelopes, prepaid debit cards, or any combination of these. Here's the basics of how it works, every single bit of money you have, down to the cent, and any money that comes in should be allocated like this (or some variation thereof):

55% Necessities (Your Living Expenses, Rent, Utilities, Car payment,etc)

10% Financial Freedom Fund (Invested for Financial Freedom)

10% Long Term Savings for Spending (Savings for BIG purchases, like the washer and dryer)

10% Education (For investing in your self development, like books, classes, etc)

10% Play (Your "You Can Have Whatever You Like" money)

5% Give ( For your favorite charity, cause, or random acts of kindness)

It does not matter if you have $1.00; $10.00 or $1,000.00; the point here is to get into the habit of managing your money. If you can manage $1.00 properly, you will be showing the Universe/God that you can be trusted with more. Start NOW! Take whatever you have, no matter how much or little and allocate it into your labeled jars, envelopes, or whatever you're using. If you see that you need more toward your necessities, you have 2 options: Focus on downsizing, maybe selling the car you can't afford, or cutting up those credit cards OR focus on ways to bring in more income, perhaps by visiting the Diva Money Club for ideas. Whatever you do, DO NOT, I repeat DO NOT focus on how much you DO NOT have or the bills! That is a sure-fire way to only attract more lack. Focus on creating more and more will come. 

Now as I said, the % are just a guideline, My personal money management system looks like this:

40% Living Expenses

20% Debt Repayments

10% Investing (My Financial Freedom Account)

10% Business/Education

15% Me Money

5% Give

Just remember, Start Now! The HABIT is more important than the amount!

Also, if you haven't already, head over to my "Recommended Reading" Section at the bottom right on this page and get a copy of "Secrets of the Millionaire Mind" AND Register for a Millionaire Mind Intensive near you! Yes! I think it's that awesome.

Divine Mind Money Series (Part 3)

Divine Mind Money Series (Part 2)

 Good Sunday Morning! This is the second installment of the Divine Mind Money series, where my aim is to share the different programs that have helped me in regards to money. Yesterday, I posted about the Diva Money Club, which was created by four Divas, on a mission to coach others to replace their salary in 12 months or less...with multiple streams of income. Today, I bring you my money investment secret weapon, Lending Club. I know, another club, right? Well this Club is for those who want to grow their money passively! I don't "save" money anymore. I only invest. Why? Because bank interest rates are CRAP! Let's just call it like it is. Unless you have $100,000 in your account at all time, your bank interest is not going to grant you much return and even then there's a better way to get the return you deserve.

The basics of Lending Club breaks down to this: People need loans for things like credit card consolidation, major purchases, etc. Instead of trying to get this loan from big banker, they turn to peer lenders (that's us!) to fund their loans, known to us as "notes". Multiple lenders invest in their loan until the loan amount requested is fulfilled. As payments on the loan come in, the investors receive their principal back (the initial investment) plus interest.

Let's take a real example:

 This is a screen shot from my actual Lending Club account. This is one of the twenty notes I'm invested in. You can see in the box on the left, it shows the date the loan was issued, the amount I invested ($25 is the minimum amount you can invest in any note), the total loan amount, the interest rate, the loan term (in this case 3 years, some run 5 years) and the status of the loan (current, late, defaulted). In the box on the right, it shows my last payment, how many total payments I've received so far, and then break downs how much of each payment received went towards my $25 principal and how much towards the interest.

This box tells me when to expect my next payment, how many payments are left in the term and how much I will have received one the loan term is fulfilled, The date of my final payment, and how much of my $25 principal is still outstanding.

This is my overall account summary. It show my Net Annualized Return, as it stands right now, this number fluctuates as payments from my various notes come in. Since I started, my return % has stayed around 14%. The middle box shows the total interest I've received so far, and under that my total payment received. The box on the far right is my account total which equals my outstanding principal, the outstanding interest accrued and available cash from payments received (which can be withdrawn to my bank, or saved until it reaches $25 for reinvestment.)

The great things about Lending Club is that you only need $25 to get started. The concept of peer lending is easy to understand, at least for me. I could never really get into stocks and mutual funds because I just don't understand how they work, and I like to think of myself as a pretty intelligent person. Lending Club does all the pre-screening of the borrowers and will share you, as the potential lender, relevant information such are credit score range, current employment and monthly income, and also their debt to income ratio. Potential lenders are also able to ask borrowers questions before decided to throw money in their pot. I also like that the investment terms are not super long, only 3 to 5 years. I don't have to wait 20 years for a good return!

Bottom Line, I love Lending Club, and I definitely think it is a service worth checking out.