What Affects Your Credit Report?

What are credit reports?

Credit reportsย contain personal information. Information like one’s address, payment history, where one borrowed money from, and what one borrowed money for are a few examples. This information is collected over time by credit reporting agencies or also called credit bureaus. Like in school, depending on how well one performs in different classes, one’s grade is either good, bad, or in the middle. This is almost like credit reports because depending on how well one can manage one’s accounts, payments, and loans one receives a good or bad credit score. Continue reading “What Affects Your Credit Report?”

The concept of sunk cost

๐—ง๐—ต๐—ฒ ๐—ฐ๐—ผ๐—ป๐—ฐ๐—ฒ๐—ฝ๐˜ ๐—ผ๐—ณ ๐˜€๐˜‚๐—ป๐—ธ ๐—ฐ๐—ผ๐˜€๐˜
In economics and business decision-making, a sunk cost (also known as retrospective cost) is a cost that has already been incurred and cannot be recovered regardless of any actions taken in the future.
A fairly decent example of this is one of my tenants that had not paid her rent in over a year.
From everything I know about property management, this past due rent has to be considered a sunk cost. Even if we eventually get a civil judgment against for this amount, in reality, we’ll be able to collect a smal portion of it and not without jumping through many hoops.

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Eliminate, Automate, Delegate in that Order

Time is our most precious resource. Itโ€™s a non-renewable resource that is continuously ticking away. Our time to have an impact, make a difference or accomplish a goal is limited. We all benefit from downtime and relaxation, but I hope you will agree with me that during our โ€œworkโ€ hours we want to make be as productive as possible. Your measure of success may be different than other folks but most likely it involves a number and often the bigger the number the better. Some examples may be:

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