Cash is King, Credit is Power, I Know You Know What I Mean

We all know what is going on in the world.

The stock market got a flood of new investors, inflation is through the roof, money was pumped into the economy and people went and bought cars, unemployment is SKY HIGH, and last but not least there is a for sale sign on houses on almost every other block in some neighborhoods.

At this point in time, we need to have an understanding of the impact of having cash in our portfolio paired with effective money management as well as leveraging our credit to be a cash flow tool or means of a pathway to wealth.

As people of color, we aren't new to the aspect of getting money, whether that's hustling for it legally or illegally. The disconnect starts from the understanding of money and knowing the difference between being rich and being wealthy.

The main difference that is highlighted when comparing RICHNESS to WEALTH is that rich people live above their means to keep up with a lifestyle while wealthy people spend less than they earn, save and or invest to lay the foundation for sustainable wealth.

People of wealth learn about money, they learn how to make it work for them They learn the importance of cash and how it allows one to be a bit more flexible and have some peace of mind.

Cash is opportunity. Cash is flexibility. Cash is comfort.

Having cash gives you leverage that not everyone has access to. It allows you to multiply your assets due to the advantage of having fluid capital ready and available.

I know, I made a provocative caption that credit is power, however, it is only power if you understand it and know how to leverage it to create a better life for yourself and your family.

Having good credit gives you a say, it gives you access to certain things and precedence over certain things.

To list a few, credit gives you access to the lower interest rates on your loans, you have precedence over a higher limit than someone in bad standing, access to better REWARDS!

All in all, people have come into "situationships" where money was touched but how that money was utilized is what became the deal breaker. To have a change in the wealth gap, we need to build a better relationship with money by knowing the flexibility and peace of mind but the more important factor to really see a dent is where credit comes in. We need to learn about credit and how to LEVERAGE IT!

I Believe, that obtaining knowledge on both variables, paired with the correct action to leverage it will be the game change on the ROAD TO WEALTH.