Retire With Rylee

I really enjoyed listening to this!! Some of these i already do, but I'm definitely going to work on the rest.

Copy These Millionaire Habits To Get Rich These were huge unlocks for me. Hope you guys like this video!! If you're curious about business buying, I’m hosting a free 90 minute class on October 16 @ 1...

One of my favorite ways to save money is DIY. All prices include labor, convenience, and know how.

I saved $125 dollars today! 💰💰💰

I took my car in for it's annual inspection. 🚙 It needed a new battery. 🪫🔋 They were going to charge me $265. I asked how much of that was labor. They said $45. So even if I went elsewhere for the battery and it was the same price, I would save close to $50. I told them I'd skip it. I went online searched for battery prices and saw Walmart had the same battery for $140!!

I borrowed my mom's car 🚘and zoomed over to Walmart for the battery! Little did I know, they would have installed for FREE!

There are lots of car issues that can easily be done with basic tools. 🔧 🧰🪛

Changing light bulbs in the car, certain filters, and other small repairs. I ALWAYS check to see if I can do something myself before allowing a mechanic to.

Thanks Walmart!

One of the best "passive" ways to increase your financial health is to learn about and take care of your Credit Score!💰💰💰

A credit score is a numerical representation of an individual's creditworthiness, typically ranging from 300 to 850. Lenders, landlords, and even employers use credit scores to gauge the risk of lending money or entering into a financial agreement with someone.

💸The Five Components of a Credit Score💸

1. Payment History (35%): This is the most significant factor, reflecting whether you pay your bills on time. Late payments can severely impact your score.

2. Credit Utilization (30%): This measures the amount of credit you’re using compared to your total available credit. Keeping your utilization below 30% is generally advised.

3. Length of Credit History (15%): A longer credit history can positively influence your score. This includes the age of your oldest account, the average age of all accounts, and how long specific accounts have been active.

4. Types of Credit (10%): This considers the variety of credit accounts you have, such as credit cards, mortgages, and installment loans. A diverse mix can enhance your score.

5. New Credit (10%): This looks at how many new accounts you’ve opened and recent inquiries into your credit. Too many inquiries can suggest risk, potentially lowering your score.

Uses of a Credit Score

Credit scores are used for various purposes, including:

- Loan Approval: 💳 Lenders assess scores to determine eligibility for loans and credit cards.
- Interest Rates: 🆓️ Higher scores often lead to lower interest rates, saving borrowers money.
- Renting: 🏠Landlords may check credit scores to evaluate the reliability of potential tenants.
- Employment: 💼Some employers review credit history when assessing candidates for specific positions.

Importance of a High Credit Score

Maintaining a high credit score is crucial because:

- Access to Credit: 💯 A high score increases your chances of being approved for loans and credit cards.
- Better Terms: 📈It can lead to lower interest rates and better loan conditions, which can save you significant amounts over time.
- Financial Flexibility: 💰A good score can provide more options for borrowing in emergencies or for significant purchases.
- Rental Opportunities:🏘 It can facilitate securing rental housing without additional hurdles.

TLDR: Understanding and managing your credit score is essential for financial health and long-term stability. Regularly checking your score and making timely payments can help keep it high.

Wealth doesn't happen overnight, it take a lifetime of financially savvy habits, and requires a mindset of growth and prosperity ✨️

What are some habits you employ to protect your finances? 💰💰💰

So excited to help a new client start real estate investing! 🏘

It doesn't have to be scary! And you can start with just $10! 💰

Message Me if you want to increase your savings invest in your future and create more stability and financial peace of mind! 🤑

If you have debt, loans, or payments that accure interest, find out if you can make 'principal only' payments. This will ultimately save you money because the amount that you're paying interest on is shrinking. Sometimes this means making a phone call to set it up or having to pay over the phone every time. It's definitely worth the savings💰

Prioritize your luxuries

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Life is worth enjoying, but if you indulge without discipline, you won't enjoy anything. Decide what brings you the most joy or has the most importance and choose luxury in those areas.

If you really love traveling and food, then make a larger portion of your savings for enjoying those items, while having an economy car, affordable home, and casual off-brand clothing.

Here are a list of areas to consider when thinking about luxury spending and priorities. Pick 2 or 3 to indulge, and the rest can be low cost items.

Cars 🚙
Housing and Home Decor🏠
Clothing and Accessories 👗🛍
Travel and Vacation 🏜
Food and Nutrition 🥩🍱
Fitness and Health 🏋️‍♀️
Appearance and Pampering 💅
Sports and Hobbies 🎸

I choose to indulge when it comes to my travel. I'm able to afford international high class vacations because I choose to drive an economical car, wear clothes from goodwill, and live in a lower cost part of town.

What are your priorities and what tradeoffs are you willing to make?

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One HUGE financial waste is fashion. We've moved from a society that had a few high-quality items that would last for years, and have moved to hundreds of cheap seasonal pieces that end up torn, and unwearable before the season is up.

Personal Expression from fashion isn't the problem. Its buying cheaply made items at a high, cost just to get rid of them 3 months later when they are out of style.

Here are some great shopping tips that will save you THOUSANDS:

1. Shop second-hand. There are a million different ways to get clothes that aren't at such a high price tag. Goodwill, Thrift Stores, Ebay, Second-Hand stores, Poshmark etc. These places often have new clothes with the tags still on for a fraction of what you'd pay in the mall.

2. Buy high quality versatile pieces. If you've just GOT to have name brand, make sure they are high quality so that in the future they can be resold to make up some of your initial investment.

3. Instead of buying a new dress for every event, wedding, or party, rent instead! There are lots of options for renting designer gowns, and you still get the experience and look, without the hefty price tag.

4. I've said this a million times, and I'll keep saying it. Quality, Quality, QUALITY! If you're buying purses, make sure they are leather, of sustainable material, or have a warranty. Buy shoes with a reputation for longevity. Those typically are leather, and very high-quality materials, and will last for years.

Stay tuned for more money management tips!

Some people think that being rich has to do with large investments, inheritances, and making lots of money.

It's more about mindset and habits. Building a life of healthy microhabits that save money and having a disciplined and steady investment strategy is essential.

Here are examples of microhabits at the grocery store that add up to BIG savings over time:

Grocery shopping:
-Where you shop matters. Driving a little further to shop bulk or buy from a store with lower prices is worth it. For example. Buying cereal at ALDI versus Fresh Market, the same exact box of cereal had a $4 difference. Think of how many items you purchase each year and saving multiple dollars on each item.

-Many credit cars give "cash back" or incentives for using them at restaurants and grocery stores. Take advantage of this, just make sure to pay off the balance in full so you aren't paying interest.

-Buy off brand. There may be some items that you need to get name brand because you can taste the difference or the quality is better, but more often than not, store brand items are just fine and a much lower price.

-Shop price per ounce instead of flat cost. You'll get more product for less money.

-Buy in bulk, portion and freeze.

-Plan your meals and buy only what's on the list. This cuts down on impulse spending and helps reduce waste.

Have any tips of your own to add?