Benz Financial

🏛️The ancient Greeks are known for their contributions to various fields, including and .

🛒Around the 6th century BCE, the Greeks began to develop standardized coinage systems. Prior to this, trade and transactions were often conducted through or the exchange of goods. The introduction of coins revolutionized commerce by providing a widely accepted medium of exchange.

🪙One of the most notable Greek coins is the silver tetradrachm, which was widely circulated and became a dominant currency in the ancient world. The tetradrachm featured intricate designs and symbols that represented different city-states, such as Athens and Corinth. These coins were minted with precision and held a consistent weight and purity, which enhanced their acceptability in trade.

⛵The use of coins brought about several and advancements. It facilitated long-distance trade, as merchants and travelers could rely on a standardized currency rather than relying on varying systems of value. Coins also allowed for the accumulation of wealth and facilitated the rise of banking systems, lending practices, and the development of markets.

📈The system laid the foundation for modern monetary systems and influenced subsequent civilizations in their use of coins as a medium of exchange. The concept of standardized currency greatly facilitated economic growth, trade, and the development of financial institutions throughout ancient Greece and beyond.

⚠️Okay it's ANSWER TIME for the following question... ⚠️

"🤔If you were buying a $45k car, which would be the financially wisest option? (assume you have $45,000 in cash and liquidity isn't an issue)

A. $0 down, pay $45,000 in cash up front
B. $10k down, finance $35k at 5% interest
C. $5k down, finance $40k at 3%, buy $40k of T-bills at 5% interest"......................................................................................................................................

👨🏻‍🏫And here's the answer...

"☝🏻Buying a vehicle for $45,000 is somewhat of a luxury, and is not a NEED. Everyone person is different and "affordability" varies by individual. So, while there is no exclusively right answer here, there ARE concepts that will be very helpful to understand.

Option A: paying $45,000 in cash is pretty self-explanatory, you are out 45k

✍🏻A: Your net expense is $45,000

Option B: putting $10,000 down and financing $35,000 at 5% will have us paying a total interest in the amount of $4,629 (assuming a standard 60-month loan). 45,000+ 4,629 = 49,629

✍🏻B: Your net expense is $49,629

Option C: Putting $5,000 down and then financing $40,000 at 3% will have us paying interest totaling $3,124, but buying T-Bills at 5% will have us EARNING $5,290 in the same period.

45,000 + 3,124 - 5,290 = 42,834

✍🏻C: Your net expense is $42,834

So, while none of the answers are 100% wrong, because everyone has different situations... there are some concepts that we can use in every area of our lives to save, earn, invest, and grow our fortunes!

🥇C $42,834
🥈A $45,000
🥉B $49,629

🧠Option C is the least expensive!

🆓As a proud Filipino, my Grandma taught me early that when you go to a fast food restaurant, you take some napkins for the car... When you go to a hotel, you grab some lotion for the road... And when you go to Starbucks, you grab some extra Sweet'n'Low.

💰As a financial professional I show people that that same concept can be extrapolated to get you some SERIOUS BENEFITS. There are freebies EVERYWHERE.

🙇🏻 Loyalty Programs: Many retailers offer loyalty programs that reward customers with discounts, cashback, or other rewards. Take advantage of these programs by signing up for them and earning rewards on your purchases. For example, if you frequently shop at a particular store, sign up for their loyalty program to earn points on your purchases that you can redeem for discounts or free products.

💳 Credit Card Rewards: Many credit cards offer rewards programs that allow you to earn points or cashback on your purchases. Look for credit cards that offer rewards in categories where you frequently spend money, such as groceries or travel. Make sure to pay off your credit card balance in full each month to avoid paying interest and fees.

💵 Cashback Apps: Use cashback apps like Rakuten, Ibotta, or Swagbucks to earn cashback on your purchases. These apps offer cashback on a variety of products and services, from groceries to travel to online shopping. Make sure to check the app before making a purchase to see if you can earn cashback.

👬 Referral Programs: Many companies offer referral programs that reward you for referring friends or family members to their products or services. For example, you may receive a discount or cashback for referring a friend to a particular service or product. Take advantage of these programs by sharing your referral link with friends and family.

🏷️ Price Comparison Websites: Use price comparison websites like PriceGrabber or Google Shopping to find the best deals on products you want to purchase. These websites allow you to compare prices from different retailers, so you can find the best deal and save money on your purchases. Make sure to check for additional discounts or rewards programs offered by the retailer before making your purchase.

🤯“Chris, how do you get a 800 credit score???”

🤝Well the first step is to ask a professional how scores work.

☝🏻Let me give an example of how it’s counterintuitive sometimes…

💳2 years ago i had about 7 credit cards with about 90,000 of available credit.

🚙I put a $5,000 downpayment on my wife’s Mercedes on my credit card, and it automatically went to “pay over time”. Even though I didn’t elect it and I didn’t know it happened automatically, this option hurt my credit score. And I had to spend half an hour just figuring out how to turn it off.

🤷🏻‍♂️Then, both of my rewards cards were cancelled because the creditors went bankrupt. This lowered my available credit to $75,000, which, through literally zero fault of my own, HURT my credit score!

😭Carrying a balance hurts your score, so pay it off in full every month if you can. And listen carefully… CREDIT UTILIZATION MATTERS!

💁🏻‍♂️If ‘Person A’ has 10 cards open with $100,000 of available credit and only spends $5,000 a month, then ‘Person A’ has a 5% . If ‘Person B’ has 4 cards with $40,000 of available credit, but spends $4,000 a month, they have a 10% credit utilization.

🤔Even though he spends more, ‘Person A’ will have a BETTER because he is showing a more responsible utilazation of his available debt. ‘Person A’ only uses 5% of their available credit, ‘Person B’ uses 10%.

🧠People think opening more cards hurts their score, it doesn’t, the hard inquiries when you apply for a card, DO hurt your score, but only for a few months. Just remember, never carry a balance, and CREDIT UTILIZATION MATTERS!

🥇1st Rule of Personal Finance: TAKE ADVANTAGE OF FREE MONEY

🧠One smart way to use card sign-up bonuses is to plan a specific purchase or trip in advance and strategically apply for a credit card that offers a that can be used towards that purchase or trip.
🏝️For example, let's say you're planning a trip to Hawaii and you know that you'll need to purchase , accommodations, and rental car services. You could research that offer sign-up bonuses for travel-related purchases, and apply for one that offers a bonus that can be used towards your trip.
💹Once you've earned the sign-up bonus, you can use it to offset some or all of the associated with your trip. By doing so, you can effectively reduce the overall cost of your trip and save money in the long run.
⚠️However, it's important to remember that using credit cards responsibly is key. Be sure to pay off your balance in full and on time each month to avoid paying high interest fees and potentially hurting your credit score.

👇🏻Use these links for an extra (BONUS):

Chase Sapphire Preferred ($800 FREE bonus):
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Capital One Venture X ($750 FREE bonus):
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United MileagePlus ($800 FREE bonus):
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