Finance define

Finance is a broad term that covers a lot. It can be defined as any activity that is associated with banking, leverage or debt, capital markets, investment, and money in general. It also includes the oversight, creation and studying of money movements, banking, investments, liabilities, and assets.



Wealth define

Wealth is defined as the measurement of the values of all the assets of worth that is owned by an individual, community, company or even a country. It is also determined by taking into consideration the total market value "cap" of all physical and non-physical assets owned, then subtracting any debts from it.

Wealth building

Why is it important to learn about Finance and Wealth?

It is important to learn about finance and wealth because it helps you manage your finances better, in order to build your dream life for you. . You can’t go far without knowledge first. Whether you want to buy a house, a car, a bicycle, or even buy groceries you would need to understand the concept of finance and wealth to get by in your daily life.

Build the perfect retirement plan when you budget and manage your finances. Get your budget planner here. 



Wealth knowledge, why you need to understand it in order to grow wealth.

If you don’t acquire wealth knowledge, it makes it almost impossible to build yours or even start getting into it. The very first step to success is knowledge. The second step is creating an action plan. This is why you need a budget planner to help you accomplish your financial goals.

The worst thing is making money and losing all of it by the end of the month. All that’s going to do is leave you living paycheck to paycheck. 

Credit score how to improve

Credit score: how to improve?

 A very good place to start when it comes to wealth building is to establish a good credit score. What credit score is considered good?

Although it varies depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair.  670 to 739 are considered good.  740 to 799 are considered very good. 800 and up are considered excellent.  

What is your credit score? Credit score average will technically be considered 580.



How to build your credit score?

Building credit from scratch is quite a conundrum. You need good credit to be able to own better quality credit cards. However, you need a credit card to be able to establish credit. Just like the chicken and egg. Well, you can search no more. Here we are going to tell you the steps on how to build your credit from scratch.

Wealth define

Building credit while having a credit card

When trying to build your credit score from scratch. It is recommended that you apply for a student credit card or a secured credit card that is specifically designed for people with little to no credit at all. We recommend that you start building your credit score using one of the following credit cards:

  •       Secured credit card.
  •       Student credit card.
  •       Store credit card.


Secured credit cards are cards that require cash deposits serving as collateral if you miss any of your payments. The best kind of these cards is the ones that do not charge an annual fee. Moreover, make sure that the company issuing the credit card reports back to all three major credit bureaus. This can help you tremendously build your credit score.


Student credit cards are those cards that are given to the student and the young. It gives them the chance to build up their credit. Holders of these types of cards are eligible -most of the time- for rewards and promotional offers. However, you have to keep in mind that they have lower credit limits than the other cards and higher interest rates as well.



The store credit cards are a great way to build your credit. These cards give people little to no credit at all to prove that they are capable of handling money responsibly. Moreover, they allow customers to save money when shopping.


Another thing that would help you build credit and save a ton of money in the process; is searching for products to buy that give you the best value for your money. Of those products, we bring you the digital planners from MOOD. You can check it out through this link ( Upon visiting their website you'd find a range of digital planners that suits all of your needs, personality, and of course budget.

How credit score increase

Building credit without a credit card

This can be tricky. However, no need to be discouraged. There are some ways you can build your credit without having a credit card on your person.


Students Loans

When you as a student apply for a loan and acquire it. Paying your loan payments on time boosts your credit score. Since the credit score is calculated via an algorithm; paying bills on time is considered a good predictor of future performance by it, thus increasing your credit score. Which you can easily track in our mood budget planner.


Auto Loans

When you search for a car to buy, try to buy it with an auto loan. Making on-time loan payments will drive your credit score up tremendously. Keep in mind that paying the full price of the car in cash will not help you build any credit, although it will help you save interest money. This way is great for people with little to no credit to jump-start their credit. However, keep in mind that buying a car for the sole reason of getting your credit started is not a financially wise decision. Make sure that the purchase is necessary for you as well.


Paying Rent

Paying your rent on time as agreed upon is one way to drive your credit score up. Your landlord is obligated to report your positive payment history to the credit reporting agencies. However, if your landlord did not do that, you can ask for help from one of the several rent tracker services online. Moreover, ask your utility company to report your payments to the credit reporting agencies as well.


Secured Loans

A secured loan is a loan that is aimed to help people with little to no credit. It acts like a secured credit card. You deposit money upfront, which is held to be used as collateral if you failed to deliver your payments on time as agreed.

How credit score increase

Building credit with your parents’ help

You can start building your credit score with help from your parents. They can make you an authorized user on one of their credit cards. Moreover, your parents can help you by co-signing a loan with you.


Becoming an authorized user

When your parents make you an authorized user on one of their credit cards, both of you gain benefits. You will have a chance to build your credit score, while your parents can cash back on your spending money if they used their rewards credit card. Make sure, however, to pay your payments on time without any delay. Any delay will affect both you and your parents tremendously.


Co-signing a loan with you

When you apply for a loan with little to no credit, your parents might want to co-sign with you to increase your chances of qualifying to get that loan. Especially if they have good credit already. However, keep in mind that you will both be responsible for paying the loan payments on time without any delay.

If you are under the age of 21, you must either have an adult co-sign the loan with you, or prove that you make enough money on your own to be able to repay any kind of money you spend on your credit cards or loans.

How credit score increase

How credit score increase?

Improving your credit score might appear to be a difficult task to do, however, with simple tips to follow, you can increase your score and improve it tremendously. First, you would need to check your credit score online. When you go check your score online you get to know two important things:

  •   Your exact score to know exactly where you are at.
  •   Information about factors that are affecting your score.

Understanding these two things will help motivate you to change your spending and savings habits to improve your score. It is important to note that changing your credit score takes time. There is no way your credit score changes overnight. It’s a journey that starts with a single step.

There are some tips that can help you improve your credit score. Here is our list of the tips:


Track your finances

In order for you to be aware of your spending habits or even work towards having better money management, you need to first of all track your expenditures. You also need a financial planner to make better spending plans to follow through with it. You can get our all-around budget planner that will enable you not only to track but maximize your saving potential.  Get yours here. This way you are able to implement all of these good financial habits.


Pay your bills on time

This is a no-brainer. Always pay your bills on time. This is the most important tip we can give you. Paying your bills on time is the most effective method to increase your credit score quickly. Since the credit score is calculated via an algorithm; paying bills on time is considered a good predictor of future performance by it, thus increasing your credit score.


Paying your bills on time will influence your credit score positively. Similarly, if you do not pay your bills on time, your credit score will decrease.


By bills, we mean all bills. That includes; credit card bills, any loans you have taken, auto loans, student loans, rent, utilities, phone bills, and so on. There are also many resources that can help you make payments on time. There are auto payment features, calendar reminders, and other apps you can use. This way you can make sure you are paying all of your bills on time.

what credit score is considered good

Pay your bills ahead

If you can afford it, try to pay your bills ahead of time. You can try to pay them every two weeks instead of every four weeks. This action will lower your credit utilization, which in turn improves your credit score.


Contact your loaners when you miss a payment

Sometimes, life happens and you can miss a couple of payments. If that happens, don’t worry, all hope is not lost. Just make sure your payments are made as soon as you possibly can. Late payments show up as negatives on your credit score report for up to seven years. Their weight and impact on your score decline over time. So do not be discouraged by your late payments, you can still improve your credit score.

Contact your creditors and loaners immediately when you miss a payment. Set up a payment plan with them and stick strictly to it. This will help you ease the negative effect late payments have on your credit score.


Pay your maxed out cards first

Most of us use more than one credit card. When paying bills prioritize the "maxed out" cards and pay them in full. This helps to lower the credit utilization rate, which will increase your credit score.



Do not close unused credit card accounts frequently

When it comes to credit scores, history matters. The longer the history of your score, the better it is. When you have unused credit card accounts do not attempt to close them, unless you need to. It is recommended that you close newer ones, not old ones if you had to close any.


Final thoughts on tips for finance and wealth building

When it comes to building the life you want financially, it definitely starts with learning about wealth and finance. And then of course budgeting is a given. You need to budget. It's not an option if you want to build financial freedom for yourself, and it's never too late or too early to learn about wealth knowledge.  Here are easy steps to take to start budgeting today.

These are the basics that everyone should follow no matter what their status is to have good credit and build wealth. 

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