"You have to learn how to act your WAGE, and stop trying to keep up with the Joneses." - Christia'n Founder of She's Got Her Own
Christia'n Annice, AKA Ms. Serial entrepreneur and She-eo of She's Got Her OWN Network, is a network dedicated to helping female entrepreneurs build their empires from the ground up.
Christia'n established She's Got her OWN Network to help female entrepreneurs and goal getters from all over the world build and establish their own businesses and empires, by focusing on building a strong and solid financial foundation.
With the help of Christia'n we are going to make sure that your financial situation changes starting today! Studies show that women are more in debt than men and are less likely to invest. We are going to change that. A woman who is financially educated has the power to conquer the world and become independent.
We need to build our girls up by teaching them financial education and the importance of money management.
Christia'n shared amazing insights in our interview below.
(Question from our readers) Help! I’ve accumulated over $50,000 in debt through college loans where do I even begin with paying it back before I turn 50?
A: I would suggest that you contact your creditors and work out some type of payment plan. There are also a few loan forgiveness programs that you can utilize as well you just have to do your research. The best thing is to never avoid your debt and to face it head on.
What are efficient ways to build your credit quickly?
A: Some efficient ways to build your credit quickly would be to become an AU aka “Authorized User” on a relatives account that is in good standing, or by getting a loan and paying it back on time. Another way to build your credit is to obtain a credit card with revolving credit and pay it off each month, and never go over 15% of your limit.
Why is it important to have a good credit score?
A: A good credit score is important for anyone to have. Loans are a necessary part of life for most of us. Building a solid credit history and maintaining a high credit score can have a dramatic impact on your quality of life now and in the future when you're considering applying for a loan or even a job.
What is a good website to view your credit report and history for free?
What are good credit cards to apply for?
A: This all depends on your personal needs. But I generally like credit Cards that give cash back rewards, and cards that report to all three credit bureaus.
Can you explain the importance of using credit cards wisely?
A: It shows how responsible you are to banks and lenders. Your use of credit shows them if you are an asset or liability.You always want to be looked upon as an asset and responsible borrower.
7. What is a good age to start investing in property?
A: Age 21
8. What are some tips for investing for young professionals?
A: Transition from a rental to home ownership. How much to allocate for a down payment on your home is a big question to answer. Waiting a year tosave will be very beneficial, as it can reduce the amount of interest you’ll pay overall. For example, let’s say you’re looking at a home that’s valued at $300,000. If you put down $25,000, at 4 percent interest, you’ll end up paying about $198,000 in interest over the life of the loan. If you can hold off and make a down payment of $50,000, you’ll pay about $180,000 in interest. So, by delay ing our purchase, and saving an additional $25,000 toward your down payment, you can save $18,000 in interest.
Shop around for mortgage rates. Not all lenders are the same, and rates can and do change based on many factors, such as the type of loan (fixed, adjustable, FHA), term (30-year, 15-year) and fluctuation of the rates themselves. Due diligence is key here.
9. How much money should you have saved before investing?
A: $5,000 - 10,000 CD’s, Mutual Funds, IRA’s, Gold
$20,000 - 50,000 Home Ownership
10. What are ideal credit scores for investors?
11. What should young professionals be writing off for their taxes?
(Websites? Small businesses?)
A: Anything that pertains to their business expenses such as, Gas, Food, Office Rent, Mileage, Supplies, Work attire, Company Website, Marketing & Advertising.
12. What are great strategies for saving money?
A: Pay yourself first. From every dollar that you receive be sure to pay yourself first. Place your money in savings accounts that give you good interest. Place an empty water jug by the front door and everyday you come home dump all of your loose change into the jug and don’t touch it until the end of the year.
Another way to save money is to go over your bank accounts and be sure that there aren’t any money leaks, which means be sure no unnecessary money is coming out for services you don’t need or use.
13. What should you do if you find that your monthly bills outweigh your income?
A: Simply Cut down your bills. You have to learn how to live your WAGE, and stop trying to keep up with the Joneses. Setting financial goals and having a financial plan in action is the best strategy that you can use to keep you on track.
14. What should young professionals be doing with their savings?
A: Investing! & Making it GROW!
Saving’s isn’t saving’s unless it’s growing and maturing. Young professionals should be finding ways to make their money flip and work for them.
15. Why is it important to save your tax return?
A: Your tax return is a great savings or investment starting point. Or, a great opportunity to add to an existing account.
16. What banks have the best savings accounts to build interest?
A: I prefer using credit unions over banks. With credit unions you get better rates and they are community based and are all about the people. Ive found that credit unions give the best rates and the best interest for growing my money.
Christia'ns motto is "Teamwork Makes The Dream Work!" and she believes strongly in this motto and lives by it daily. Her ambition and drive to help and see others succeed is a passion of this young lady who mentors and guides women from all over the globe on a daily basis, empowering and inspiring others alike in the world of entrepreneurship. "Your Network is Your Net Worth, Use it Wisely!" -Christia'n Annice.
Connect with Christia'n using the links below!
Google: She's Got Her OWN Network