Earn Your Leisure

In this episode, Troy Millings speaks with credit expert Shonda Martin to discuss the crucial topic of establishing credit at a young age. Shonda stresses the importance of setting children up for financial success by adding them as authorized users on credit cards at 16 or 17 years old, ensuring they have an established credit profile by the time they turn 18. She emphasizes that simply turning 18 does not automatically grant a FICO score and outlines the necessary credit history requirements for it.
Shonda also delves into the misconception regarding the impact of adding children to credit cards at a younger age, emphasizing the potential risks and benefits of such actions. She shares personal experiences and offers valuable insights into the long-term effects of credit history, emphasizing the value of a well-managed credit profile over a high credit score. Additionally, Shonda provides practical advice on handling credit card closures, shedding light on how such actions can affect one's credit score and offering guidance on when it's appropriate to close a card.
The discussion also covers the significance of credit card age and how it contributes to a solid credit foundation, highlighting the benefits of maintaining open accounts and managing credit utilization. Shonda's expert advice on navigating the nuances of credit scoring provides invaluable knowledge for individuals seeking to build and maintain a healthy credit profile. Don't miss this insightful conversation that explores the complexities of credit establishment and management, providing practical strategies for optimizing financial well-being.
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Subscribe and watch more videos here:
https://www.youtube.com/@EarnYourLeisure
Join the EYL community for deeper training and a more detailed approach:
https://www.eyluniversity.com
Join the number one stock club in the world:
https://www.ianinvest.com
See omnystudio.com/listener for privacy information.

Subscribe and watch more videos here:
https://www.youtube.com/@EarnYourLeisure
Join the EYL community for deeper training and a more detailed approach:
https://www.eyluniversity.com
Join the number one stock club in the world:
https://www.ianinvest.com
See omnystudio.com/listener for privacy information.

Taxes can be one of the biggest expenses for entrepreneurs and investors—but understanding the tax code can completely change the game. In this episode, we sit down with Ms. Business to break down the biggest tax mistakes business owners make, how to structure your business properly, and why the tax code rewards people who understand how to use it.

We cover major tax changes, including the $40,000 SALT deduction limit and opportunities to potentially write off 100% of qualifying vehicle costs. We also discuss why real estate remains one of the most powerful asset classes for tax strategy, how business owners should approach quarterly taxes, and the tax credits parents need to know about.

For traders, we break down how trading through an LLC can create advantages, strategies option traders can use to potentially offset taxes, and why proper business structure matters. Plus, Ms. Business explains the best way to approach filing your taxes and shares how building relationships through live events can create opportunities that go far beyond business.

#EarnYourLeisure #Taxes #TaxStrategy #Business #Entrepreneurship #Investing #RealEstate #LLC #TaxDeductions #OptionTrading #WealthBuilding #FinancialLiteracy #MsBusiness
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