Financial literacy is the possession of knowledge and skills that enable informed and effective money management. I encourage you to educate yourself on properly setting up LLC's, credit, assets, passive income, finance laws and institutions. I'm in the process of unlearning things and creating a new mindset. With this new mindset comes new perspectives which has shifted my planning. Financial freedom is my goal. It is obtainable for anyone consistent. One day I will quit my 9-5 job. I want to build generational wealth and break generational curses. It will happen. It's time to start. Below are the basic steps:

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1. Start fixing your personal credit

- Start removing inquiries, student loans, late payments, collections (Try Google OR In-person Credit Repair Service)

- Start making timely payments, add AGED Tradeline, download Self or Kikoff app (VERY small, personal loans you pay MONTHLY that report MONTHLY to FICO)

• YOUR personal credit score doesn't have to be good to start an business. Why? You and your business are two different entities

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2. Start LLC

- Legally register your LLC (different states have different requirements use Google)

- Your LLC needs professionalism (business phone number, email, website, address)

• DON'T use your home address for your LLC address! You can fix this, instead use virtual address or brick and mortar

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3. Start building business credit

- Must be registered with Dun & Bradstreet to get your D-U-N-S number, this number is used to check the business credit profile

- Set up a business checking account (if your aren't generating business income yet deposit funds from your 9-5 income bank account just to show the bank some activity)

- Apply for business funding and get approved: cars, loans, grants, credit cards, programs (best to apply for Non-PG which means your approval isn't based on your personal credit)

- If needed, add Net30 Accounts

- Business credit is scored on 0-100 range. 80 is considered high business credit. Business credit is easier than personal credit

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4. Scale your business

- Use the business funding to invest into the business (example: inventory) and/or your next LLC

- Use your 9-5 income (until it isn't needed anymore) and business income to pay your business credit lines and bills MONTHLY

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5. Invest in passive income

- Passive income is money you earn with minimal ongoing effort to earn or maintain

-Passive income is referred to as "money you make in your sleep"

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6. Repeat

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Leverage your skills and scale your businesses