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Serial Entrepreneur Melik Monal Shares In His New Book How He Became A Business Success And What He Learned In The Process

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NEW YORK, NY / ACCESSWIRE / February 17, 2021 /Melik Monal came from a very humble background. He went quickly from a low income background to making millions of dollars and building himself an amazing portfolio.”I was born and raised in Belle … Monal Capital

NEW YORK, NY / ACCESSWIRE / February 17, 2021 / Melik Monal came from a very humble background. He went quickly from a low income background to making millions of dollars and building himself an amazing portfolio.

“I was born and raised in Belle Glade, FL in a poverty stricken town where financial literacy was nonexistent. I started off picking blueberries in hot Hammonton, New Jersey. From these humble beginnings, I was able to build several multi million dollar companies while creating a platform to help people like yourself obtain financial freedom,” Melik recounts.

Melik runs a chain of financial firms in ten different locations offering financial services. He was inspired to get into this business by watching his parents struggle with their own finances as immigrants coming to the United States. He wanted a better life for him and his family while being able to help people along the way.

“My why will forever be my beautiful daughter Mia-Amora Monal and also watching my parents (immigrants) from Haiti struggle just to provide for our family. In addition, my passion to help others also inspired me. I knew the only way I could help more people is to put myself in a better position to do so and watching my parents struggle gave me the will and determination and having my daughter only pushed me even further,” Melik says.

Like many others, Melik grew up in a town where financial literacy was not a part of the vocabulary for the average person. His goal is to change the way that people look and think about wealth as a whole. This is the definition of success for Melik. He also created the financial freedom Hacks course To teach others how he was able to leverage the system . The FinancialfreedomHacks course which focuses on building your personal and business credit and multiple streams of income to gain generational wealth. They do it yourself credit repair e-book guide has helped thousands of people regain their financial stability purchase yours today !! FinancialfreedomHacks.org

“Growing up In Belle Glade, FL financial literacy was scarce. I want to inspire and help as many people as possible to become financially free, and to show our youth that there are so many different routes you can take to become successful or financially free by changing the dynamics of how we as people look at wealth. Success means everything to me just as important as breathing. I gauge my success on how many people I have helped succeed throughout my lifetime thats true success for me,” Melik states.

Melik has just written a book detailing his years of experience and all that he has learned and accomplished from them. It will be published in March . The book is full of amazing tips and tricks to help people with their own finances and to build multiple streams of income. The most informative financial freedom book yet!

“My book has over 10 years of personal experiences. The pandemic amplified The reason for why I am writing this book. We live in a systematic country where everyone thinks the government will bail them out due to this pandemic and people have really seen how easy it can be to lose it all living paycheck to paycheck and not building multiple streams of income. My book is like no other, not only is my book going to motivate my readers, but I am also going to show them step-by-step on how easy it can be to become financially free, and the only thing that’s in their way is themselves,” Melik comments.

Some of the things that readers can expect to find in the book to help them on their financial journey: Building business and personal credit, building cash flow, knowing the difference from an asset and liability, Understanding how important taxes and draft are and how to build generational wealth.

In addition, he’s created a course “financial freedom Hacks”

Which focuses on

1. How to build Business and personal credit.

2. How to build a seven-figure tax business

3. How to create a seven-figure real estate portfolio

4. Building a e-commerce business (Amazon)

5. How to build a restaurant from ground up

A book created to inform my readers on how to think and build like the rich.

To find out more aboutMelik Monal and his book, you can check him out on Instagram and get his book here

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SOURCE: Monal Capital

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Are Sallie Mae Student Loans Federal or Private?

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When you hear the name Sallie Mae, you probably think of student loans. There’s a good reason for that; Sallie Mae has a long history, during which time it has provided both federal and private student loans.

However, as of 2014, all of Sallie Mae’s student loans are private, and its federal loans have been sold to another servicer. Here’s what to know if you have a Sallie Mae loan or are considering taking one out.

What is Sallie Mae?

Sallie Mae is a company that currently offers private student loans. But it has taken a few forms over the years.

In 1972, Congress first created the Student Loan Marketing Association (SLMA) as a private, for-profit corporation. Congress gave SLMA, commonly called “Sallie Mae,” the status of a government-sponsored enterprise (GSE) to support the company in its mission to provide stability and liquidity to the student loan market as a warehouse for student loans.

However, in 2004, the structure and purpose of the company began to change. SLMA dissolved in late December of that year, and the SLM Corporation, or “Sallie Mae,” was formed in its place as a fully private-sector company without GSE status.

In 2014, the company underwent another big adjustment when Sallie Mae split to form Navient and Sallie Mae. Navient is a federal student loan servicer that manages existing student loan accounts. Meanwhile, Sallie Mae continues to offer private student loans and other financial products to consumers. If you took out a student loan with Sallie Mae prior to 2014, there’s a chance that it was a federal student loan under the now-defunct Federal Family Education Loan Program (FFELP).

At present, Sallie Mae owns 1.4 percent of student loans in the United States. In addition to private student loans, the bank also offers credit cards, personal loans and savings accounts to its customers, many of whom are college students.

What is the difference between private and federal student loans?

When you’re seeking financing to pay for college, you’ll have a big choice to make: federal versus private student loans. Both types of loans offer some benefits and drawbacks.

Federal student loans are educational loans that come from the U.S. government. Under the William D. Ford Federal Direct Loan Program, there are four types of federal student loans available to qualified borrowers.

With federal student loans, you typically do not need a co-signer or even a credit check. The loans also come with numerous benefits, such as the ability to adjust your repayment plan based on your income. You may also be able to pause payments with a forbearance or deferment and perhaps even qualify for some level of student loan forgiveness.

On the negative side, most federal student loans feature borrowing limits, so you might need to find supplemental funding or scholarships if your educational costs exceed federal loan maximums.

Private student loans are educational loans you can access from private lenders, such as banks, credit unions and online lenders. On the plus side, private student loans often feature higher loan amounts than you can access through federal funding. And if you or your co-signer has excellent credit, you may be able to secure a competitive interest rate as well.

As for drawbacks, private student loans don’t offer the valuable benefits that federal student borrowers can enjoy. You may also face higher interest rates or have a harder time qualifying for financing if you have bad credit.

Are Sallie Mae loans better than federal student loans?

In general, federal loans are the best first choice for student borrowers. Federal student loans offer numerous benefits that private loans do not. You’ll generally want to complete the Free Application for Federal Student Aid (FAFSA) and review federal funding options before applying for any type of private student loan — Sallie Mae loans included.

However, private student loans, like those offered by Sallie Mae, do have their place. In some cases, federal student aid, grants, scholarships, work-study programs and savings might not be enough to cover educational expenses. In these situations, private student loans may provide you with another way to pay for college.

If you do need to take out private student loans, Sallie Mae is a lender worth considering. It offers loans for a variety of needs, including undergrad, MBA school, medical school, dental school and law school. Its loans also feature 100 percent coverage, so you can find funding for all of your certified school expenses.

With that said, it’s always best to compare a few lenders before committing. All lenders evaluate income and credit score differently, so it’s possible that another lender could give you lower interest rates or more favorable terms.

The bottom line

Sallie Mae may be a good choice if you’re in the market for private student loans and other financial products. Just be sure to do your research upfront, as you should before you take out any form of financing. Comparing multiple offers always gives you the best chance of saving money.

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Tips to do some fall cleaning on your finances

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Wealth manager, Harry Abrahamsen, has five simple ways to stay on top of the big financial picture.

PORTLAND, Maine — Keeping track of our financial stability is something we can all do, whether we have IRAs or 401ks or just a checking account. Harry J. Abrahamsen is the Founder of Abrahamsen Financial Group. He works with clients to create and grow their own wealth. Abrahamsen shares five financial tips, starting with knowing what you have. 

1. Analyze Your Finances Quarterly or Biannually

You want to make sure that your long-term strategy is congruent with your short-term strategy. If the short-term is not working out, you may need to adjust what you are doing to make sure your outcome produces the desired results you are looking to accomplish. It is just like setting sail on a voyage across the Atlantic Ocean. You know where you want to go and plot your course, but there are many factors that need to be considered to actually get you across and across safely. Your finances behave the exact same way. Check your current situation and make sure you are taking into consideration all of the various wealth-eroding factors that can take you completely off course.

With interest rates very low, now might be a good time to consider refinancing student loans or mortgages, or consolidating credit card debt. However, do so only if you need to or if you can create a positive cash flow. To ensure that you are saving the most by doing so, you must look at current payments, excluding taxes and insurance costs. This way you can do an apples-to-apples comparison.

The most important things to look for when reviewing your credit report is accuracy. Make sure the reporting agencies are reporting things actuary. If it doesn’t appear to be reporting correct and accurate information, you should consult with a reputable credit repair company to help you fix the incorrect information.

4. Savings and Retirement Accounts

The most important thing to consider when reviewing your savings and retirement accounts is to make sure the strategies match your short-term and long-term investment objectives. All too often people end up making decisions one at a time, at different times in their lives, with different people, under different circumstances. Having a sound strategy in place will allow you to view your finances with a macro-economic lens vs a micro-economic view. Stay the course and adjust accordingly from a risk and tax standpoint.

RELATED: Financial lessons learned through the pandemic

A great tip for lowering utility bills or car insurance premiums: Simply ask! There may be things you are not aware of that could save you hundreds of dollars every month. You just need to call all of the companies that you do business with to find out about cost-cutting strategies. 

RELATED: Overcome your fear of finances

To learn more about Abrahamsen Financial, click here

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How to Get a Loan Even with Bad Credit

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Sana pwedeng mabura ang bad credit history as quickly and easily as paying off your utility bills, ‘no? Unfortunately, it takes time. And bago mo pa maayos ang bad credit mo, more often than not, kailangan mo na namang mag-avail ng panibagong loan. 

Good thing you can still get a loan even with bad credit, kahit na medyo limited ang options. How do you get a loan if you have bad credit? Alamin sa short guide na ito. 

For more finance tips, visit Moneymax.

 

 

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