When you actually take time and focus on your finances and try to formulate a plan you see small opportunities here and there. Today, I was provided an opportunity to change auto insurance due to my current company pulling out of my state. After checking around I have found insurance for $10 a month cheaper!
If you go all the way back to when I started this financial journey $10 would be right at a 60% increase in cash flow. That is pretty dang good.
Now, a new development happened today. I received a pre-approved visa card. I know what everyone is thinking...oh no, not a credit card at this stage in the game.
Well, one thing I haven't discussed is my credit rating. Over the past year I have started trying to build it. I initially was approved for an eBay store card. After making purchases with the card and instantly paying them off as soon as it posted for a few months I was then approved for an Amazon store card. Using this same method I was the given an increased credit line.
After investigating how to build credit I found that keeping under 15% balance on your cards is very healthy with credit rating. My initial score around 3 years ago was in the high 400's. Now, as I am getting this new visa I am currently sitting at 678. According to the information I have read, and looking at the tips on a credit monitoring website I needed to have a credit card that was not just a store card. With this card over the course of about a year I should be able to take my score into the 700's which opens up a new opportunity. A chance to by a home.
Buying a home in my oppinion will be my greatest opportunity to increase cash flow. I could own a house for much less than I am paying in rent. I am going to investigate how much I could save a month.
OK, here we go...total cash flow per month...$126. A heck of I leap from $16.
I will keep you informed on new developments!
Thanks for tuning in!!
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