"Achieving Your Dreams in 2023: Strategies for Building Business and Personal Credit and Finding Financing"

This quarter I am focussed on recession proofing, and building your business and personal credit can make a huge difference in staying ahead in this changing economy.

One thing you will discover is that business credit can be used for wise business and investment strategies. Years ago I started building my business credit when I opened my first gift store at 23 years young. I was able to strategically purchase items including properties with the use of this form of credit. Not only did it give me a longer float/payback time, it also afforded me far lower interest rates and far more credit than I could have had with just a personal credit line. The good thing is these strategies still work today.

Building credit is an essential part of being financially secure and having access to the funds you need to pursue your dreams. In 2023, there are several steps you can take to build your business and personal credit and still find ways to finance your aspirations.

For Business Credit:

1. Get a business credit card: A business credit card can help establish your business's credit history and provide a line of credit that you can use to cover business expenses.
2. Pay bills on time: Late payments can harm your credit score, so make sure to pay your bills on time and in full each month.
3. Use your credit responsibly: Don't max out your credit card or take on too much debt. Keep your balances low and pay your bills on time to maintain a good credit score.

For Personal Credit:

1. Check your credit report: Start by getting a copy of your credit report and correcting any errors you find.
2. Pay bills on time: Late payments can harm your credit score, so make sure to pay your bills on time and in full each month.
3. Keep balances low: High balances on your credit cards can hurt your credit score, so try to keep your balances low and pay off debt as soon as possible.

For Financing Dreams:

1. Research and compare: Explore different options for financing your dreams, including loans, grants, and crowdfunding.
2. Consider a personal loan: Personal loans can be a good option for financing your aspirations, especially if you have good credit.
3. Seek advice from professionals: Consult with a financial advisor or loan specialist to find the best financing option for your needs.

Building credit takes time and effort, but it is a critical step in achieving financial stability and realizing your aspirations. With the right tools, strategies, and support, you can build both business and personal credit and find ways to finance your dreams in 2023.

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About the author ?? Sheila guides entrepreneurs and working professionals through the profitable steps of building a business while also living there best life: from creation of expansion; marketing from planning to implementation; wealth building and preservation through real estate investing; and strategic planning all so that you can get back to the business of living your best life. Learn more at?www.SheilaMac.com