Finance Rants - Your Source for Personal Finance Education

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Your Source For Personal Finance Education

We educate you on your personal or business credit reports, offer suggestions for improvements, and answer your questions.


Credit Score

We will help you get the facts about saving and investing and assist you in following through with an intelligent plan based on your specific needs.


Investing

Would you like a better understanding of where your money is going? Personal finance coaching with FinanceRants may be just what you need.


Budgeting

We offer one-on-one coaching for the following:

You don't have to go it alone!

Stay on top of your credit with your FREE 3-Bureau Personal Credit Report and Scores!

Monitor and stay informed of significant changes to your Business Credit Profile.


Business Credit Monitoring

### **Funding for New Small Businesses in the US**

A business loan is essential when planning to start a new business. There are various kinds of small business funding loans that you can opt for when you are planning to raise capital for your business.

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Among numerous business loans, which loans suit the best for your small business funding depends on various factors:

*   What are the prospects for your loans?
*   How would you want to utilize the funds?
*   How long would it take to repay the amount?

Hence, to find the most appropriate new small business loans for your business, you must choose the loans for business owners' requirements.

### Types of Loans for Funding New Small Businesses in the US:

Following are the three common types of loans available for your business lending:

### Term Loans:

Term loans are the most popular type of new small business loans. This type of loan allows the borrower to receive a lump sum amount of money that has to be returned with interest over a pre-determined period.

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The condition of acquiring this loan involves an asset like machinery or business property as a guarantee. This loan may be risky, as the lender has the right to sell that asset if the business owner becomes a defaulter.

However, when it comes to the advantage of taking this loan, it involves getting the money right into your hands all at once, which will help you scale your business.

### Personal Loans:

A personal loan is a business loan that is a viable option for a new small business. It is an attractive business lending option for your business. Although this loan requires you to have a reasonably good credit score, these credits are easier to acquire. However, the lending costs of personal loans tend to be of a higher level.

### SBA Loans:

Small Business Administration is a platform for small business funding in the US. The banks issue these loans with a period of repayment depending on how the lender plans to pay them back.

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The best part about this loan is that it offers loans at the lowest interest rates in the market and allows the business owner to borrow up to five million dollars. While, on one side, they are pretty tough loans to qualify for, the repayment terms of this loan are longer.

### Conclusion:

If you plan to start a small business in the US, begin by making a good business plan. Once your project is ready, get your team and prospects ready and decide where and when to start. Once you get sorted, you will not have to worry about finances because this blog has highlighted some of the best, simple, hassle-free business financing options.

So wait for no further, choose the loan that suits you the best, and start working for your better future!


This blog discusses the best possible new small business loans available for funding your new business. 

Funding for New Small Businesses in the US

Working on a **personal budget** can be a perfect way to track where you spend money. It can also work great to improve your management skills.

Also, it will help if you do budgeting to improve your savings without compromising much on your wants and needs.

Every month, it's crucial to manage your take-home pay and compare it to your planned expenses, which ideally shouldn't be higher than your income. Here, we will discuss **how to budget money** in the best way.

## **How To Budget Money Easily**

A famous saying is that "failing to plan means planning to fail." It applies to every decision, whether related to career or **personal finances.** Proper budgeting and planning can be game changers in your life.

So this makes you wonder how to go about managing the budgets? Well, you can follow these amazing tips to manage **personal**\*\* finance\*\* like a pro.

### **1.**\*\* Make A Habit To Note Spending\*\*

Keeping a diary where you make categories can be a perfect way to provide you with the best **money** -making skills. You can opt for a digital diary or a regular one or just write it in your smartphone notes.

![](/images/istockphoto-495853751-612x612.jpg)

Once you have it, make sections for the monthly bills, needs, want, and saving plans.

· **Bills** are, of course, mandatory, as you cannot pay half to save money. So, please keep it simple by putting the bill amount aside first.

· **Needs:** thisis a section where you decide whether it is important or not. Have a thorough look at those things you consider that are your needs and keep the amount for them aside.

· **Wants:** are something that most people handle wrongly. When making a personal **budget,** it is wrong to eliminate your wants.

Instead, you must reduce them by figuring out what you actually want and what you merely do just because you see a friend doing it.

· **Savings:** can be a game changer in your life once you decide to utilize them after a long period.

Always take a saving amount first, then manage your expenses. Whether you want to buy a car or property or invest in a startup. If you spend wisely on expenses, you can save a good amount easily.

### **2.**\*\* Follow The 50/30/20 Method.\*\*

The 50/30/20 method is a simple budgeting technique that can aid in sustainable, simple, and effective money management.

The general method of thumb is to allocate 50% of your monthly after-tax income for needs, 30% for wants, and 20% for savings or debt repayment.

![](/images/Screen-Shot-2018-08-25-at-11.46.26-PM.png)

The 50/30/20 method is an easy monthly budgeting technique that outlines how much you should allocate to monthly savings and living expenses.

You may make better use of your money by consistently maintaining a balance between three key areas of expenditure.

## **The Final Word**

A written monthly **budget** is a strategy for financial planning that enables you to forecast your monthly spending and savings. You may track your spending patterns with it as well. It's crucial to maintaining your financial stability in the longer run.


Personal Finance Budgeting Basics


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Have you heard either of these terms before? They both have to do with your
credit report, but each serves its own purpose. The main difference between the
2 is who is responsible for paying balances on the accounts. Read on to find out
more!

#### **What are Primary Tradelines?**

Primary tradelines are the credit accounts that are opened in your name where
the creditor has extended credit to you. You are responsible for the transactions
that occur on these tradelines. These are the kind of tradelines that most of you
are likely familiar with.

#### **How Do Primary Tradelines Help My Credit Score?**

There are 5 main factors that are used in calculating your credit score. These
include Payment History, Overall Credit Utilization, Credit History Length, Credit
Mix, and Amount of Inquiries. Primary tradelines are one of the main items on
your credit report, so they will affect each of the 5 factors listed above. If you
would like to learn more about the basics of your credit score then check out our article titled, ["Your Credit Score & What it Means to You"](https://www.financerants.com/blog/improve-your-credit-score/)
.

#### **Can Buying Primary Tradelines Repair My Credit?**

If you could buy primary tradelines than yes, they would greatly help improve
your overall credit profile. Unfortunately, primary tradelines can not be
purchased since the original owner is the only one who is responsible for the
account. But don’t fret, there is something called an Authorized User tradeline
that can be purchased and can help to diversify your overall credit profile!

#### **What are Authorized User Tradelines?**

Authorized user tradelines are a revolving credit card account onto which an individual is added as an authorized user. They are typically revolving lines of credit on which someone places another as an authorized user account holder. The
account will report to the client’s credit report and can help to increase
average account age, improve payment history, and lower utilization depending on the client’s
specific needs. This proven method has helped countless people improve their
overall credit profile.

#### **Do People Actually Buy Authorized User Tradelines?**

The answer to this is ABSOLUTELY! People have been legally buying and selling
authorized user tradelines for years to help bolster their credit profiles. The
important part is to make sure you are doing business with a reputable company.

#### **What to Know Before Buying Authorized User Tradelines?**

One of the most difficult decisions when it comes to
authorized user tradelines is choosing which company to purchase them from. There are many
dishonest businesses out there who may not provide the services that
you expected. This article is meant to provide you with an introduction to authorized
user tradelines and how they could benefit you, while also providing a safe,
proven marketplace to purchase them from.

Before purchasing a tradeline it is important to make sure
you have a copy of your up-to-date credit report for all three major credit
bureaus including Transunion, Equifax and Experian. This will allow you to be
able to make an informed decision when it comes to choosing which tradeline
will serve you best in your specific situation. Tradelines usually can make the biggest difference when being added to a blank or nearly blank credit profile. If there are many negative items such as collections, charge-offs etc. a tradeline may not be able to make much of an impact. In those situations you may want to address the derogatory items prior to adding a tradeline. 3FreeScoresNow.com provides clients a free 7-day trial which includes a 3-bureau credit report among other
benefits.

#### **Best Authorized User Tradeline Companies**

Why don’t we get right to it? The top of the list, the cream
of the crop, the best of the best, Tradeline Supply Company! This company has been
in business for many years and are in my opinion one of the best, safest
tradeline companies out there. Not only do they offer authorized user
tradelines for sale, but they also provide free educational resources to make
sure that clients are well informed before making a purchase! Tradeline Supply
Company has one of the largest inventories of tradelines to meet any client’s
specific needs. Although prices may be a bit higher than other alternatives, it
is well worth the money for the extra peace of mind and resources available to
customers on their website. Another important feature of Tradeline Supply is
their guarantees policy which clearly lays out what they do and do not
guarantee, which helps to prevent misunderstandings and confusion in this all
too often confusing business. Don’t take my word for it, check them out and see
for yourself!

[<img src="https://www.tqlkg.com/pb115nswkqo9JCFHIBF9BDFIHEEC">](https://www.kqzyfj.com/9b108hz74z6MWPSUVOSMOQSVURRP)

Another GREAT authorized user tradeline company worth discussing is Tradeline
Genie. Tradeline Genie has been in the business for years and has extensive,
industry specific knowledge as well as a history of great customer service! Their
website is located at [TradelineGenie.org](https://tradelinegenie.org) and is very easy to navigate. It also has a great FAQ section that should
answer any questions you may have. My favorite thing about Tradeline Genie is
the amazing prices! Their tradeline prices are unbeatable which is why they are a
great choice for the budget conscious consumer. Also, they have a great
cardholder program where you can make passive income while helping others to
achieve their financial goals! If you are interested in this program, please send
them an email at [Orders@TradelineGenie.org](mailto:orders@tradelinegenie.org).

![](/images/OIP.jpg)

Hopefully I given you a better understanding of the difference between primary tradelines
and authorized user tradelines. Although they have distinct differences, they both
play an important role in the calculation of your credit score. If you would like to
learn more about how you can improve your credit score, visit our article titled,
[“How to Improve Your Credit Score”](https://www.financerants.com/blog/improve-your-credit-score/).


Primary Tradelines VS. Authorized User Tradelines

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Sylvie B.

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Your Source For Personal Finance Education

You don't have to go it alone!

Credit Score

Investing

Budgeting

Stay on top of your credit with your FREE 3-Bureau Personal Credit Report and Scores!

Recent posts

Funding for New Small Businesses in the US

Personal Finance Budgeting Basics

Primary Tradelines VS. Authorized User Tradelines

Business Credit Monitoring
Monitor and stay informed of significant changes to your Business Credit Profile.

Sylvie B.

Get early access

Home

Your Source For Personal Finance Education

You don't have to go it alone!

Credit Score

Investing

Budgeting

Stay on top of your credit with your FREE 3-Bureau Personal Credit Report and Scores!

Recent posts

Funding for New Small Businesses in the US

Personal Finance Budgeting Basics

Primary Tradelines VS. Authorized User Tradelines

Business Credit MonitoringMonitor and stay informed of significant changes to your Business Credit Profile.

Sylvie B.

Get early access

Business Credit Monitoring
Monitor and stay informed of significant changes to your Business Credit Profile.