Mindset To Money, Author at Mindset To Money
How To Start Your Own Private Bank (2023)

How To Start A Private Family Bank

If we learned anything from the Silicon Valley Bank collapse, it’s that we cannot depend on the banks to keep our money safe. It’s time to start your own private bank.

But, how do you start one?

There is no shortage of social media posts and 60 second TikTok videos about becoming your own bank, also referred to as “infinite banking,” but these posts often leave readers feeling intrigued but ultimately frustrated by the lack of concrete guidance.

That ends here.

In this article we’ll break down how to start your own private bank.

Let’s start with the first common question…

What is a Private Family Bank?

First and foremost, let’s get the language right. Technically, just know that the way to refer to this if you want to use accurate language is a “private family reserve,” because in a legal sense, this is not actually a true bank. But for the sake of this article, we’ll use the commonly accepted term of private family bank.

The 2nd thing you need to know is that there is also MASSIVE MISINFORMATION about the core structure of the private family bank. I’ll share more about that in a moment, but for now, let’s talk about why people call it a “bank” if it’s not actually a bank.

In the simplest form, a private family bank is similar to a traditional bank in function, in the sense that it serves as a holding place for your money. The obvious primary difference is that YOU own it, but there are other really important advantages that a private family bank offers you when structured properly, such as:

  • It allows you to maximize your ability to mitigate taxes to the full extent of the law
  • It allows you to have full control over everything while personally owning nothing, which eliminates the liability risk of any of your cash, assets and other business holdings being subject to lawsuits brought against you personally
  • After your death, it can be passed down to YOUR family for generations, in the form of a Private Family Office (we’ll discuss the family office structure in another article)

There are several other benefits of having your own family bank such as you never have to worry about your personal credit score, being denied, having creditors, the IRS or anyone tell you what to do with YOUR money, and your family will be taken care of for GENERATIONS!

You are the bank.

Now, here is where people tend to think it begins and ends

Step 1: Find an experienced insurance agent who specializes in “infinite banking” policies:

These are not your typical off the shelf products, most life insurance agents don’t even know how to do this. You need to find a specialized agent who is a specialist in setting up “non-direct recognition whole life insurance policies” (see Step 2) and sets you up with a policy that gives them the least amount of commission for your benefit.

Step 2: Have your agent create a non-direct recognition whole life insurance policy

for your specific needs. Non-direct recognition refers to a type of whole life insurance policy that allows the policyholder to borrow against the cash value of the policy without affecting the dividends or cash value growth. 

Step 3: Put a lump sum of money in your policy

i.e. $50,000-$100,000+ and have the ability to borrow against your policy within as little as 30 days sometimes sooner. This is how it works, you can borrow up to 90% of the cash value in your policy. The money in your account can continue to grow with interest as if you never touched it because it’s in a “non-direct” policy meaning they don’t recognize when you borrow against the policy. 

Step 4: Use the money.

Preferably into a business/asset that can create a new revenue stream so you can pay the loan back to increase your borrowing capacity or if you don’t pay the loan back it will be subtracted from your death benefit.

BUT little do people know that’s only one small piece of the puzzle, especially if you want to truly create a private family entity structure that gives you full advantage of tax benefits and liability protection.

Have you ever heard the saying own nothing but control everything? 

Well that’s how the wealthy do it and this is what Ross Bruson does for a living. He structures his clients family banks in a way that sets them up for generations to generations. 

He has a bulletproof system that he has done for the last 30 years securing the legacies of countless families. Below is a snapshot of his unique 4-entity structure to safeguard your assets, money, taxes, and create a legacy of multi-generational wealth for families, inside of one generation

Here is his 4-Step Entity Structure Process

Step 1: Create a S-Corporation – Management/Holding Company For LLCs

Step 2: Create a Limited Liability Companies (LLCs) – Operating LLCs & Asset Holding LLCs

Step 3: Create a Limited Liability Limited Partnership (LLLP) – Private Financial Reserve

Step 4: Create a Living Trust – Grantor Self-Settled Spendthrift Trust

This chart is impossible to describe in writing, it must be explained. Ross was featured in a Mindset To Money Masterclass and gave an outstanding presentation on how this 4-entity structure works and how to protect your assets to save you thousands and millions of dollars in taxes. It’s a must watch to truly understand how to create your own private family bank. 

To access the Masterclass click here.

He even went in-depth about the Rockfeller’s and how he patterns his structure after them. 

The Rockefeller’s are famous for structuring their private family bank and here is an example of how they have passed wealth down to generations 

They used a very strategic approach and their family is now worth billions. 

Here are the steps the Rockefeller’s used to create their own private family bank

  1. Parents setup a family trust
  2. As soon as a beneficiary of the trust is born, (a child), the family trust takes out a cash value life insurance policy for the maximum amount of insurance a company will offer
  3. Then as trust is setup for each child in the family as soon as the child is born. The trust is named the beneficiary of the life policy
  4. The child can learn about and have access to the capital found in his own life 
  5. The child can make deals with his parents or grandparents, whereby the parents or grandparents will make the child a loan from their policy’s cash value should the child need funds greater than what has built up in the child’s policy
  6. This money has to be paid back. If it is not paid back, the parents or grandparents have the cash values building up in the child’s policy they can take therby maintaning the survival of the main family trust.
  7. Restrictions are placed on how much a child can borrow from his or the main family trust. If the child is not able to pay the loan back in full, the trust can be made whole again by the child’s life insurance policy
  8. When the loan is paid back, the interest on the loan is NOT getting paid back to the government or to a banking institution, but back into the family bank, keeping the family and the family bank strong.
  9. The parents acting as a board, can setup a model so that the children can only borrow a certain amount or even a specific number of times, depending on the assets in the trust. The board can use something called a statement of purpose – an extended family mission statement that will govern their decision and make sure the money is put to good use.  

Everything you thought you knew,  you may need to think again. This is not some DIY project you should think of taking on yourself.

This process must be understood enough to even have a conversation of what you want and need.

To get a better understanding and see the exact 4-entity structure that Ross recommends to safeguard your assets and your money, save double-digit percentages on taxes yearly, and create a legacy of multi-generational wealth for families, inside of one generation then this is the masterclass for you. Click here to access.

Will you be the one to take on the responsibility to create the STRUCTURES for generational wealth to begin in your family?

Frequently Asked Questions

Can you create your own private bank?

Short answer, no. Creating a life insurance policy involves working with an insurance company and a licensed insurance agent who can guide you through the process and help you select a policy that meets your financial goals and needs. It’s important to carefully consider your options and consult with a financial professional before making any decisions.

How much does it cost to open a private bank?

To determine the cost to open a private bank varies. You will need to consider factors such as your age, health, the amount of coverage you need, and the length of the policy term. You will also need to consider any fees or charges associated with the policy, such as premiums, administrative fees, and surrender charges.

It is best to contact an insurance agent or company directly to get a personalized quote for a non-direct recognition whole life insurance policy based on your specific needs and circumstances.

Is private banking profitable?

Private banking can be profitable but it depends on your individual financial situation and investment goals. Private banking typically guarantees a fixed rate of return on the cash value component of the policy, which can provide stability and predictability in your long-term investment portfolio. Additionally, the death benefit can provide a tax-free source of income to your beneficiaries upon your passing.

If you enjoyed this article, you’ll love the information we share with our members and subscribers about Mindset, Investing, Business and Personal Finance. Learn more ways to build your business credit and buy automated income streams, take our Financial Autonomy Quiz at MindsetToMoney.com, and identify your path to retire yourself in 5 years or less. 

Leverage AI To Write Your Next Book In Days With Alicia Lyttle

INCREASE: How To Leverage AI To Write Your Next Book with Alicia Lyttle

Hey y’all, this is Danielle!

These days, it seems that we have an overwhelming number of platforms and channels to navigate when it comes to marketing ourselves, our stories and our respective products and services. 

There’s Facebook (for old folks born in the 1900s as my kids say lol)…

There’s Instagram…

There’s Pinterest…

There’s YouTube…

There’s Twitter…

There’s TikTok…

There’s Podcasting…

And the latest addition to the mix is “Threads” which is a Twitter competitor launched by Mark Zuckerberg…at least that’s what I heard anyway. I haven’t tried it. 

Overwhelming trying to figure out how to navigate and post to so many platforms, right? 

But wait! It’s not just the posting is it? You gotta take it a step further than that… 

You also gotta “target your audience.”

That means…

Taking trending topics and tryna figure out how to marry them with posts about your products / services that are relevant to your audience…

Researching trending hashtags for your audience segment, and using them in your posts…

Keeping up with trending images, background music and background sounds on content that is performing well for your audience segment, specific to each social media platform, and using it in your posts…

And you apparently also gotta learn dance moves to go along with the trending audio.

But wait! There’s more!

You also gotta “engage” with your audience.

That’s right, after all that, you then actually have to talk to all these random humans in your comments and DMs.

Who TF has time for all this?

Chile….issa hard NO for me.

We’ve been head down, building our business for the last year and a half, and have been mostly radio silent on social media during that time.

We’re just now getting to the point where we recently hired a professional team to begin managing our outbound social media posting on a daily basis, across all of our social channels.

If you’re a business owner or subject matter expert, and you have no desire to be dancing and recording new content all damn day in front of your phone to connect with your potential customers or clients online, you and I have something in common.

But if you aren’t yet at a place to spend thousands of dollars to hire professionals who post daily on your behalf and grow your brand for you online…what can you do?

Here’s the deal…

Quiet as it’s kept, BOOKS are still popular. Still relevant. Still valuable. And still one heck of a marketing tool to create that inbound interest from your prospects when used correctly. 

Whether you know it or not, YOU have a story to tell and there are people who will pay to get access to that story. 

I’ve written a chapter as a featured author in one book, I also have a book published on Amazon, and I’ve self-published a 3rd book which we sell independently, direct to our customers. 

The reality is if you can type, you can write a book. Sooooooo…WRITE A BOOK.

But is it really that simple?

Me personally? I love writing, so I found the process to be SUPER easy, non-intimidating and seamless.

Heck, the hardest part was sharing some of the most personal aspects of my life for the world to read lol.

So with all that said, with me loving to write, and the process of writing a book feeling really easy and approachable for me, I was able to write my last book a few years ago in just a few short months.

For someone who LOVES writing, and LOVED the process of writing a book, it only took me a few short months.

But, guess what?

If you’re less like the handful of weirdos like me, and more like, ummm I don’t know, just about every other normal, everyday person, it’s more likely that maybe writing a book HASN’T been a breeze for you, and maybe you have a story in you and you HAVEN’T gotten it out yet.

Here’s the good news – if you’re someone who feels like you have a book in you, but you DON’T necessarily love writing, or you DON’T find the process of writing easy and seamless, and you struggle to find the time to write that book you’ve been talking about and “working on” for years now…

Your process to write a book doesn’t need to be months. It doesn’t even need to be weeks. You, yes YOU CAN WRITE YOUR FIRST OR NEXT BOOK IN JUST A HANDFUL OF DAYS using artificial intelligence right now.

In our next Mindset To Money Master Class, Alicia Lyttle will show us exactly how to go through the entire process from start to having your book FINISHED in just a matter of days, including a beautifully designed cover…including a full launch campaign series of emails, ads, everything you need.

No more excuses, right?

Here’s what you need to know about Alicia: 

  • Alicia Lyttle is an EIGHT figure entrepreneur. 
  • Former highly ranked White House employee
  • Named by USA Today as one of the top 20 Entrepreneurs building empires in 2023
  • Digital marketing expert with 23 years of experience
  • Has helped thousands of individuals quit their 9 to 5

P.S. I’m about 99% certain that whatever Alicia is selling, I’m going to buy lol. I’ve wanted to be a full-time author for my ENTIRE life and if AI is helping folks knock out books in just a few days, I’m here for it.

best insurance companies for infinite banking
Best Insurance Companies for Infinite Banking 2023

Best Non-Direct Recognition Insurance Companies

Do you want to know the best insurance companies for infinite banking?

We sure did.

We fell in love with the idea that we could fund whole life insurance policies and borrow against the cash value of them without it affecting the dividends or cash value growth. 

In addition to that, the cash in the policy grows tax free, and we leave a death benefit for our family when we ultimately kick the can.

Spoiler alert – none of us are making it out of here alive, so we might as well make the most of it for our families.

Getting all of these benefits doesn’t happen ANYWHERE else other than by using this infinite banking concept.

But, you HAVE to have your policy set up the right way or this could actually work against you.

We didn’t want to have to learn the hard way, so we brought in Justin Donald, a 9-figure investor who built his entire portfolio on the back of non-direct recognition, whole life insurance as his primary investment mechanism to fund his deals.

Justin gave an outstanding Master Class in the Mindset To Money community showing us how he funded a multiple 9-figure private family reserve in one generation! 

In the Master Class he explained the difference between the two types of policies to consider and the ONLY one you should choose. The two options are:

  • Direct Recognition Whole Life Policies
  • Non-Direct Recognition Whole Life Policies

If you’d rather watch than read, click the video below to hear a snippet from the Master Class of Justin explaining the important differences. You CANNOT mess this part up.

Direct Recognition, Whole Life Insurance

In this type of policy, the insurance company directly recognizes and adjusts the policy’s cash value and dividend calculations based on any outstanding loans or withdrawals made by the policyholder.

When a policyholder takes a loan or makes a withdrawal in a direct recognition policy, the insurance company reduces the cash value and dividend calculations of the policy by an amount equivalent to the outstanding loan or withdrawal.

This means that policyholders may experience a decrease in the growth potential and dividend payments of their policy when utilizing loans or withdrawals.

For example – let’s say you have a direct recognition, whole life policy with $100,000 in cash value. You take out a loan of $75,000 of your cash value.

How much cash value would you then have left in the policy? As you’d expect, you’d have $25,000 in cash value left in the policy.

DIRECT RECOGNITION, WHOLE LIFE INSURANCE

  • Cash Value = $100,000
  • Loan = $75,000
  • Remaining Cash Value = $25,000

NON-DIRECT RECOGNITION, WHOLE LIFE INSURANCE

In this type of policy, the insurance company treats the policyholder’s policy loans and withdrawals separately from the calculation of dividends. 

This means that when a policyholder takes a loan or makes a withdrawal from their policy, the insurance company does not reduce the dividends or cash value growth of the policy based on the borrowed amount.

Now with same scenario as above – let’s say you have a NON-direct recognition, whole life policy with $100,000 in cash value. You take out a loan of $75,000 against your cash value. 

How much cash value would you then have left in the policy? As you’d expect, you’d have…wait a minute…the full $100,000 in cash value left in the policy? What the what? WELCOME TO NON-DIRECT RECOGNITION.

  • Cash Value = $100,000
  • Loan = $75,000
  • Remaining Cash Value = $100,000

As you can see, it is not in your best interest to use a direct recognition policy. So when you are seeking the best life insurance company for infinite banking, BE SURE the company is only offering you a non-direct recognition whole life insurance policy. 

Justin started with Northwestern Mutual and later learned that they did not offer a non-direct recognition policy, only direct.

After doing a lot of research he later found the best insurance companies for infinite banking that offer the best returns and are the most financially sound, and the list is not very long.
He used the first one on this list to help build his 9-figure investment portfolio!

Here Are The Best Insurance Companies For Infinite Banking

  1. MassMutual is widely regarded as a reputable whole life insurance company for serveral reasons, one being the long-standing history they have and financial stability along with the fact that they offer a range of flexible and customizable whole life insurance policies that align with the principles of infinite banking, providing policyholders with the potential for cash value growth and competitive dividend payouts.
  1. New York Life stands out as well because of their long-standing history of financial stability giving policyholders the peace of mind they need knowing that their polices are backed by a company with a long history of financial success. Their whole life insurance options also allow you to tailor your policy to meet your specific need and finiancial goals. 

These are the two best insurance companies for infinite banking. When it comes to investing in a whole life insurance policy you only want to work with companies with a long-standing history of financially stability, and that give the best returns.  

The next most common question is…

How to set up whole life insurance for infinite banking and use it to your advantage?

These are the steps you’ll want to take when considering infinite banking:

Step 1: Find an experienced insurance agent who specializes in “infinite banking” policies: The companies mentioned above don’t provide just the typical off the shelf products, they are specialists in setting up “non-direct recognition whole life insurance policies” and set you up with a policy that gives them the least amount of commission for your benefit.

Step 2: Have your agent create a non-direct recognition whole life insurance policy for your specific needs.

Step 3: Put a lump sum of money in your policy. Here is an infinite banking example, invest $50,000-$100,000+ and put it in a non-direct recognition policy and have the ability to borrow against your policy within as little as 30 days sometimes sooner.

This is how it works, you can borrow up to 90% of the cash value in your policy. The money in your account can continue to grow with interest as if you never touched it because it’s in a “non-direct” policy, meaning they don’t recognize when you borrow against the policy. 

Step 4: Invest the money in a way that will produce passive returns. Preferably into a business or asset that can create a new revenue stream that can pay the loan back in a reasonably short period of time, to increase your borrowing capacity, or if you don’t pay the loan back it will simply be subtracted from your death benefit.

BUT little do people know that’s only one small piece of the puzzle, especially if you want to truly create a private family bank entity structure that gives you full advantage of tax benefits and liability protection.

Have you ever heard the saying own nothing but control everything? Well that should be your ultimate goal. See how you can create a private family bank, more accurately called a “private family reserve” —>> HERE

Justin started out by investing in mobile homes and used his whole life insurance policy to fund it. He gave a full break down on how he built his 9-figure investment portfolio in this private Mindest To Money Master Class —>> HERE.

Click here to access the Master Class.

As infinite banking continues to become a wealth-building strategy, selecting the right insurance company is imperative.

Everyone has their own unique financial goals, so it’s essential to do thorough research, seek professional advice, and choose an insurance company that aligns with your specific needs. 

We hope you now know the best insurance companies for infinite banking to choose from to give you the best returns.  

If you enjoyed this article, you’ll love the information we share with our members and subscribers about Mindset, Investing, Business and Personal Finance.

To learn more ways to build your business credit and buy automated income streams, take our Financial Autonomy Quiz at MindsetToMoney.com, and identify your path to retire yourself in 5 years or less.

Cash Flow Planning for Beginners: A step-by-step Guide (2023)

Cash Flow Forecasting Model

Cash Flow Planning is KEY to running a successful business. 

This is how you determine how you’re going to pay your bills, hire someone or even have to fire someone. You have to have a good gauge of what’s coming in and what’s going out if you want your business to have a future.

Do you have a good grasp on your finances?

If not, don’t worry. In this article we’re going to break it down so you’ll have a clear understanding on cash flow planning and how to use it for your business. 

But wait, there’s more! 

We’re also going to show you how to get your hand on other people’s money to grow YOUR business, so stay tuned for that!

Here is everything you need to know about Cash Flow Planning

Let’s start with the basics:

What is Cash Flow Planning?

Cash flow planning gives a company a view at its incoming and outgoing cash to ensure it can meet it’s expenses. This includes cash flow from investing, operations, and financing activities.

Why is cash flow planning important?

Having a cash flow plan will make it that much easier to qualify for business financing, and predictably grow your bottom line. You can think of it as a budget for a business.

So let’s talk about how to get this. Here are 4 steps to effective cash flow budget planning:

  1. Establish your cashflow goals. Think about your business and where you want it to go. Then write down the steps you’ll have to take to get there. Does it require outsourcing more tasks so you can work on more strategic areas of your business? Does it require investing in more equipment or education? What will it take and cost to get you to the next level?
  2. How much money do you have coming in? Take a look at what’s coming in. You should have a full understanding of how much money is coming in every month. Even if some months are different than others, you should know what to expect. Look at trends from previous years but also think about the difference in what’s going on in the world (No one saw Covid coming).
  3. Calculate your business expenses – both short and long-term. These expenses might include operating expenses like salaries, rent, taxes, loan payments, equipment purchases, raw materials, business permits, etc. Subtract the money you expect to come in during the month by the money you plan on spending. This is how you calculate your cash flow plan.
  4. Know your number.  Now that you know how much you’ll have left it might not be enough to get to where you want your business to go, and that’s OKAY. 

This is where we want to show you how to get OTHER people to pay you to grow your business, and the way to do that is by getting Business Credit.

Business credit allows business owners to fund expenses they have and pay it back later as profits roll in. This allows the business to create flexibility with their finances, while you grow sustainable cash flow. 

With sustainable cash flow, this opens opportunities for bigger business credit lines, better credit terms, and better rates.

85% of businesses fail because they don’t have enough money. 

The GOOD news is that so many banks and lenders want to give to people but unfortunately so many small business owners have no idea where to go, what to do, or how to qualify. 

Business credit is not only good to help you fund your business, but even if you don’t need it right away, it’s still good to have as a safety net. If anything ever goes wrong, you can always use your business credit to keep your business running. 

You can even use business credit to pay yourself. Many small business owners do not pay themselves, and many don’t know that you can use business credit to get paid.

It’s hard to build your business if you don’t have any money. 

Business credit is fairly easy to get IF you can pay your bills on time. There are other factors to consider, but generally it can be easy to get. Even if you’re new in business or have been denied before. 

If you’re looking to obtain business credit, a great way to further educate yourself is by attending one of our most popular Master Classes on the topic.

In this Master Class you’ll learn

  • How to start, grow and leverage business credit without using your SSN

If you’re concerned about business credit and fear that you may not be able to manage it properly, this is the Master Class for you. 

We even cover what to do if you’re not making enough money to pay it back in time, or not making any money at all. We’re going to cover it all.

Click here to join us for this Business Credit Master Class.

Advantages and disadvantages of cash flow forecasting?

Some advantages of cashflow planning are to include the ability to balance costs, revenue and beneficial for businesses that are working to gain profits. 

Some disadvantages may include lack of flexibility. Some businesses without stable cash flow and growing expenses can find it hard to stick to a plan or forecast properly. 

This is the power of having business credit. You want to have a cash flow strategy if you want your business to grow. 


Now that you know how to calculate your cash flow planning and how to access business credit to grow your business, the sky is no longer the limit for you.

If you enjoyed this article, you’ll love the information we share with our members and subscribers about Mindset, Investing, Business and Personal Finance. Learn more ways to build your business credit and buy automated income streams, take our Financial Autonomy Quiz at MindsetToMoney.com, and identify your path to retire yourself in 5 years or less. 

hacks to improve your credit score fast
5 Little-known Hacks to Improve Your Credit Score Fast

Are you looking for hacks to improve your credit score fast?

Legitimately?

We were too. There is SO MUCH INFORMATION out there about improving your credit score, but how do you know who to trust?

How do you get access to experts in this field that deal with helping thousands of people improve their credit without showing them illegal methods that set you up for failure?

Well, thankfully, you’ve stumbled upon us, Mindset To Money. It’s the connections we have that make our readers better and learning hacks to improve your credit score fast is just one of them.

We interviewed personal finance expert Dominique Brown because one of the top questions we were often asked is, how can we REALLY improve our credit score fast?

Dominique gave us the no fluff, honest truth. You simply won’t find this information anywhere else, because most “gurus” give you half the truth.

You’ll see what we’re talking about as you read below. 

Dominique emphasized, BEFORE you can work on improving your credit score, you must understand this. 

Five Key Factors That Impact Your Credit Score

  • Payment History (35%): Your history of paying bills on time is a significant factor. Late payments can have a detrimental impact on your credit score.
  • Revolving Credit (30%): This factor looks at your credit card balances relative to your credit limits. Lowering your credit card balances can rapidly improve your score.
  • Length of Credit History (15%): The longer you’ve had credit accounts in good standing, the better it reflects on your credit score.
  • Types of Credit (10%): Lenders like to see a mix of credit types, such as credit cards, loans, and mortgages.
  • New Credit (10%): Opening multiple new credit accounts in a short period can negatively affect your credit score.

Now that you understand the factors that impact your credit score, let’s delve into some actionable hacks to increase your credit score quickly:

5 Hacks to Increase Your Credit Score Fast

1. Pay Down Credit Card Balances

how to increase credit score quickly

The first hack on our journey to turbocharging your credit score revolves around managing your credit card balances. Credit card balances play a pivotal role in determining your creditworthiness, making up a significant chunk of your overall credit score. Here’s how you can make the most of this hack:

Credit card balances should ideally be maintained at or below 6% of your credit limit. This low utilization rate indicates responsible credit management, impressing potential lenders and credit agencies.

Prioritize paying off high-interest credit cards first. By reducing high-interest debt, you’ll not only lower your credit utilization but also save money on interest payments.

Consider transferring balances to credit cards with lower interest rates. Balance transfer cards can provide a temporary respite from high interest, allowing you to pay down debt more quickly.

2. Pay Bills on Time

CREDIT SCORE HACKS

Your payment history carries significant weight in determining your credit score (35%). Therefore, consistently paying your bills on time is absolutely crucial. Let’s delve deeper into this essential credit score hack:

Set up payment reminders or automatic payments for all your bills, from credit cards to utilities. This proactive approach ensures you never miss a due date.

Late payments can have a long-lasting negative impact on your credit score. One missed payment can remain on your credit report for up to seven years, so strive for a flawless record of on-time payments.

Consistency in on-time payments builds a strong payment history, a factor highly valued by lenders when evaluating your creditworthiness.

3. Check Your Credit Report

improve credit score

Regularly monitoring your credit report is another vital component of improving your credit score. Your credit report holds the key to identifying errors, inaccuracies, or fraudulent accounts that could be dragging down your score:

Access your credit report from all three major credit bureaus – Equifax, Experian, and TransUnion. Federal law allows you to obtain one free report from each bureau annually.

Scrutinize your credit report for any discrepancies or inaccuracies. Errors could include incorrect account balances, inaccurate payment histories, or unfamiliar accounts.

If you discover any discrepancies, initiate the dispute process promptly. Correcting these errors can lead to a swift boost in your credit score.

4. Diversify Your Credit Types

 tips to increase credit score fast

Credit scoring models evaluate your credit mix, considering the various types of credit accounts you hold. To optimize your credit score, consider diversifying your credit profile:

A mix of credit types, such as credit cards, loans, and mortgages, signals responsible credit management and can positively influence your credit score.

If you primarily have credit cards, consider adding a different type of credit account to your financial portfolio. Options include a small personal loan or a secured credit card.

Use new credit accounts responsibly, as opening multiple accounts in a short period can temporarily lower your score before it begins to improve.

5. Use AI Tools

credit score improvement hacks

Leverage AI technology to help you manage and improve your credit. These tools can assist in identifying and disputing negative items on your credit report.

Dominique gave a fantastic master class on how you can use AI to take control of your credit and financial future. You can instantly challenge negative items on your credit report, optimize your credit profile and more at the click of a BUTTON!

It’s like nothing you’ve ever seen, check it out —>> HERE

Remember, while these methods can lead to rapid improvements, building and maintaining excellent credit is an ongoing endeavor that demands consistent financial responsibility. 

Implement these hacks wisely, stay vigilant, and watch your credit score soar, unlocking a world of financial opportunities and security. Your path to financial empowerment starts now.

If you enjoyed this article, you’ll love the information we share with our members and subscribers about Mindset, Investing, Business, Personal Finance, Multi-Generational Legacy Wealth Protection Structures.

Mindset To Money members learn how to build their business credit as a step on their journey to replacing earned income with automated income, but your first step?

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How to Write a Book With No Experience
How to Write a Book With No Experience: The #1 Best Way

How to Get Started Writing a Book

Do you want to learn how to write a book but don’t have the experience?

It’s okay, because you know what every great writer had?

The same experience.

They all started with no experience and the ONLY way they were able to get some was by just doing it. BUT, we’re not going to just hang you out to dry with that lame statement.

We are LITERALLY going to show you how to write a book with no experience by leveraging the power of Aritificial Intelligence (AI).

Yes, AI! Don’t think about the way you may have used it before, giving you subpar responses if you’ve used tools like ChatGPT.

For those living under a rock, ChatGPT is a natural language processing tool driven by AI technology that allows you to have human-like conversations and much more.

Have you ever heard the saying Garbage in, Garbage out?

Well if you give these AI tools generic questions, you’re going to get generic answers. 

Did you know you can actually train these AI tools to think like you, talk like you and ghost write your next book?

Now, don’t be scared, but it is a little scary how accurate these tools can get once you train them but I rather use the word AMAZING.

You mean, I can FINALLY get the book out that I’ve been wanting to write for years but I no longer have to use the excuses of fear, time, or know how?

Sign me up! 

We were privileged to attend a Mindset To Money Masterclass on How to Write a Book Leveraging the Power of AI.

And it BLEW.US.AWAY!.

The Masterclass was hosted by renowned entrepreneur and AI master Alicia Lyttle. Alicia is a  TEDx Speaker, digital marketing expert with 23 years of experience and has held prestigious positions at The White House, and has shared her expertise internationally, teaching others to leverage the internet for business success.

Her ability to write books in a matter of days has sparked great attention.

We are going to share some of the snippets from that Masterclass she held to help you learn how to write a book with no experience and show you some MIND BLOWING ways on how you can get this done in 10 days or less!

Don’t believe us? Watch this snippet from the Masterclass where Alicia Lyttle showed us how to train ChatGPT to write just like her.

(insert youtube video recap)

If you can do this with a couple of prompts just think about what you can do if you’re trying to write a book!  This was just a SNIPPET! 

Can you imagine what else was discussed in this Masterclass? Let’s just say, she went in even more in-depth and showed us the blueprint we need to create a book in just 10 days! If you want to see the full Masterclass, click HERE.

So, Can You Write a Book With No Experience?

Absolutely, did you see what we just showed you? How could you need experience to write a book when you have AI? Artificial intelligence has evolved significantly and it has the tools and understanding to help you write a book in your own style and tone and most importantly get you unstuck and get you passed that blank piece of paper..

How to Get Started Writing a Book

How do you overcome your fears of getting started writing a book?

You just have to do it scared. The advantage you have with AI is that you don’t have to do it alone. You’re using it as a “partner” and you have the confidence to know that you are dealing with a professional writer assisting you every step of the way for the very low price of nothing!

This eliminates such a huge barrier for those who would have otherwise had to do this by themselves. 

So, now that you know you can create a book with no experience let’s discuss some of the things you’ll want to think about.

How Do I Write My First Book?

How Do I Write My First Book
  1. First Understand Your Style and Tone: Begin by recognizing your natural writing style and tone. Are you casual, formal, conversational, or professional? Knowing this helps train AI to write in a way that represents you authentically.
  1. Leverage AI with Caution: Be cautious when using AI to write your book. Understanding how to train AI in your style and tone is crucial. Misusing AI can result in poor quality content. Ensure you’re well-versed in training AI before diving in.
  1. Ideation Process: Generate an idea for your book. It could be something you’re passionate about or an area where you have expertise. AI can assist you in developing and structuring this idea into a coherent narrative.
  2. Identify Your Target Audience and Genre: Determine who your book is intended for. Consider your passions and interests. AI can help you align your content with the preferences and expectations of your target audience.
  3. Combine Passion and Expertise: Align your writing with your passions and areas of expertise. AI can enhance your content by refining and improving it, allowing you to create a meaningful and impactful book.
  4. Iterate and Refine with AI: Work iteratively with AI, allowing it to assist in refining your content. AI can provide valuable suggestions and improvements throughout the writing process.
  5. Publish and Share Your Work: Once your book is complete and polished with the aid of AI, explore publishing options. AI can guide you in this process, making it accessible for those with no prior experience.

You’ll also want to join online communities, engage in meaningful conversations, offer valuable input, and showcase your expertise. 

This is the best way to write your book, because when it’s time to sell it, your audience will be waiting for it. Having an engaged audience will be one of your greatest resources. 

Writing a book with no experience has become too easy IF you know what you’re doing with AI. The barriers to entry have diminished.

Get your story out there and share it with us in the comment section below so we can see just how awesome you are. 

If you enjoyed this article, you’ll love the information we share with our members and subscribers about Mindset, Investing, Business and Personal Finance. 

Learn more ways to build your business credit and buy automated income streams, take our Financial Autonomy Quiz at MindsetToMoney.com, and identify your path to retire yourself in 5 years or less.