Category Archives: financial

Oct 14, 2023

Boost Your Credit Score

DO YOU WANT TO BUY A HOME,GET A STUDENT LOAN,FINANCE A NEW VEHICLE,REMODEL THE BASEMENT,OR MAYBE USE A CREDIT CARD TO CHARGE BUSINESS EXPENSES? HAVING A HEALTHY CREDIT SCORE IS IMPORTANT TO BORROWING MONEY.  

Applying for a loan or credit card to finance a purchase is essentially asking a lender to trust that you’re going to pay them back according to the terms you agree upon. Landlords,insurers,and employers often use credit information to filter out applicants they may deem too risky. While it may not seem fair in some cases,lenders often see your credit score as a sign that the rest of your life is well managed and that you “take care of your business.”

At Canopy,we know you are more than your credit score. We are passionate about giving chances to people who have been turned away from other financial institutions because of factors like poor credit.

However,we believe that empowering members to learn about finances will help them continue to grow. Being educated on the ins and outs of credit scores is a crucial step towards financial wellness.

Who decides my credit score?

In the United States,there are three credit reporting agencies. Experian,Equifax,and TransUnion. Each reports and calculates your score differently. 

What’s a good credit score?

Credit scores range from 300-850. This is the breakdown:

Excellent: 780-850

Good: 660-779

Fair: 600-659

Unfavorable: 500-599

Deficient: 300-499

Why does having good credit matter?

There are many benefits to having good credit. Many areas of life from lending to employment benefit from good credit. Having good credit improves access and lower cost for:

• Borrowing needs
• Housing – whether renting or buying
• Transportation   
• Insurance: auto insurance premiums can sometimes increase more for having poor credit than having an at fault accident on your driving record. 
• Communication services

What makes up a credit score?

Your credit score is calculated by the credit reporting agencies with five factors. Each factor is weighed differently to make up the total score,with some factors like payment history mattering much more than credit mix.

TransUnion breaks down these five factors this way:

• Payment history: 40% — the most important factor is to pay your bills on time. Don’t be late. Don’t miss payments. Setting up automatic payments can help with making sure you are always on time.
• Credit utilization: 23% — credit utilization is based on the overall amount of money you’ve spent on your credit cards or accounts that have credit limits. In order to look “less risky” to lenders,don’t use more than 30% of your total available credit across all your accounts. Doing so may indicate that you’re dependent on borrowing or simply overspending based on your income and ability to pay back. Pay down balances as much as possible each month. To keep within under 30% utilization,pay off cards multiple times a month or spread payments out on a variety of cards.
  • Example: Alex has three credit cards. The first card has a limit of $1,000,the second a limit of $2,000 and the third a limit of $5,000. Together,her available credit is $8,000. To make sure she stays under a 30% utilization for her $8,000,Alex pays off her cards if she gets close to or above $2,400 in combined purchases across her cards.
• Length of credit history: 21% — the longer your credit history,the more data is available to show creditors that you’re a good risk and you’ve proven it over time. Keep any credit cards you have active by making a purchase on each one every few months. Inactive accounts might be closed by the lender,which can reduce your average credit age and lower your credit score.
• Credit mix: 11% — maybe you’re paying a mortgage,have paid off an auto loan,and pay off your credit card balance each month. The ability to manage a variety of types of credit adds points to your score.
• Recent credit inquiries: 5% — creditors checking your credit before making a lending decision,can hurt your scores. It’s usually temporary but can cause your score to fall a few points. Wait at least 6 months between hard credit inquires. Soft credit pulls (like checking your credit score on a free website) does not effect your credit score as it is more of a guess rather than a precise number.

To learn more on how to Boost your Credit Score,please check out Canopy

Aug 3, 2023

What is the best way to Start an Aesthetic Clinic

A clinic that specializes in aesthetics is where you will get treatments that will improve your skin and body. These clinics are also able to help with other issues,like removing scars or wrinkles. Even weight loss can be helped by these clinics. Certain clinics offer laser treatments and facials. Some may have a physician on site who can offer advice. These facilities are a good option for those who want to look younger. You can also check this out Best Cellulite Massager.

Many people are not aware of the distinction between a medical spa and an aesthetic clinic. Both have the same goal however they differ. Aesthetic clinics provide the most options for injectable and surgical procedures. Medical spas are less formal and offer more pampered services. They do not have to adhere to the same rules as aesthetic clinics and can be more costly.

You should be aware that starting an aesthetic clinic is not a simple task. In order to get your business up and running,you will need to invest a lot in planning,time and money. It can be satisfying to own an established business. You’ll feel good about helping your clients achieve their goals. Additionally,you can make money.

There are many ways to start an aesthetic clinic. Some opt to establish their own private practice while others choose to join an existing one. It’s not just important to meet the licensing and location requirements however,it is also important to create an effective business plan and a marketing strategy. It is equally crucial to hire the right people to manage your business. You can check it this clinic Best Cellulite Massager,this is good in singapore.

To start your own aesthetic clinic,the first step is decide on the services you will provide. It is essential to determine the market you want to target and decide the best way to reach them once you’ve decided on the services you’ll offer. For instance,you can,advertise via direct mail or social media to potential customers. In addition,you can provide incentives to your current customers to try new products.

Besides offering aesthetic procedures,an clinic can also offer various other treatments,such as laser hair removal,weight loss programs and various facials. Some of these treatments are not so painful as conventional waxing or shaving,and they can also offer more lasting results.

Manufacturers can serve providers better by offering solutions that cover the full spectrum of requirements,such as regenerative skin treatments or combinations of treatments. They can also provide patient engagement platforms and education programs. In addition,they offer products that are compatible to other devices used in clinics,such as massage and dermaplaning instruments. It can help providers maintain relationships with their patients outside of the clinic,and help enhance the outcomes.