Enrich Financial is about education.
We believe that there are no "secrets" to financial security… and financial education isn't just for the wealthy. Enrich Financial's goal is to educate hardworking families — just like you — on simple concepts that can change your financial future forever.
Six steps to building your financial situation:
1. Increase your cash flow
It is but obvious that everyone who has invested his money in the market always looks for more and more profit to be earned each time. Once the cash flow increases in the business, the chances of increasing the profit get higher. This also relates to credit report and if it caters to all the requirements and indicates a high credit score, you will easily be able to expand your business.
2. Manage Debt
It is one of the major tasks to manage the amount of debt. One should try to pay the debt as soon as possible as it affects the credit score and hence credit rating. The more delay in paying the debt will leave a bad impression over money lenders. This is unfortunate and it may hamper your financial growth as well.
3. Create Emergency Fund
It is one of the basic and effective measures which is always used by the credit repair specialists to improve your credit report rating. This includes the clearance of those payments which can be easily paid. This creates an impression that you are paying your debts and payments on time and hence you are a good candidate for lending the loan. One should always have some amount saved with him so that emergency expenses can be paid off with ease.
4. Ensure proper protection
One should be very much cautious in choosing the credit repair company for repair and maintenance of credit report. The point to be considered is that company is using all the legal procedures and policies to correct the mistakes in the report. This is a very important point to be considered because this can put you in trouble under various acts and various legalities. In addition to these one should always look for those measures which will help in reducing the loss of income and all the family assets.
5. Build long-term savings
Long-term savings help very much in impressing your lenders or financial companies. Long-term savings such as Fixed-deposits and investment in various assets such as land, gold, etc. present yourself as a wise and foresighted businessman but a responsible citizen also. One should think of these measures to help himself in getting loans easily, even if there are some minor flaws in your credit report. This always helps in minimizing the effect of inflation and long-term investments help in cutting the tax costs.
6. Preserve your Estate
Help limit probate costs
Probate cost is the cost when you have to claim the assets of any deceased one. Maintaining the privacy regarding all your investments, assets and financial transactions helps you reduce the probate the costs. There are number of technical aspects which need to be considered regarding the probate administration such as creditor notification, petition for a personal representative etc.