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spencer

Enlightened Mentor
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  1. Asked: June 18, 2024In: Money & Business

    Why are There so Much Interests on Loan?

    spencer
    spencer Enlightened Mentor
    Added an answer on June 25, 2024 at 5:45 am

    Because it's expensive to borrow people money, and it's risky too, a lot of people try to cheat the system and are a bad debt, so that's why a lot of debt owners end up marking up the interest rate, so that the money they make on loans are sustainable enough to make the business stand on its feet. IRead more

    Because it’s expensive to borrow people money, and it’s risky too, a lot of people try to cheat the system and are a bad debt, so that’s why a lot of debt owners end up marking up the interest rate, so that the money they make on loans are sustainable enough to make the business stand on its feet.

    If you want to pay low interest then you’ll have to pay faster, but generally, the longer the repayment, the bigger the interest, there are a lot of nuances though like inflation and dollar cost averaging.

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  2. Asked: September 20, 2023In: Money & Business

    What Are The Qualities Of A Successful Business Owner?

    spencer
    spencer Enlightened Mentor
    Added an answer on June 25, 2024 at 5:39 am

    Yes, that's void if you have a mortgage, but without mortgage it's not possible to pay for a house with rent, the land owner wouldn't allow it, if you take a rent of a whole building it's prohibited to rent a part of it to someone. But if you have mortgage, you can rent some part of it to someone anRead more

    Yes, that’s void if you have a mortgage, but without mortgage it’s not possible to pay for a house with rent, the land owner wouldn’t allow it, if you take a rent of a whole building it’s prohibited to rent a part of it to someone.

    But if you have mortgage, you can rent some part of it to someone and the use the rental income to pay up the mortgage, it’s an ideal strategy that has been done over and over again.

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  3. Asked: September 25, 2023In: Money & Business

    How does geofencing help marketing?

    spencer
    spencer Enlightened Mentor
    Added an answer on June 25, 2024 at 5:36 am

    Geofencing helps a business because you can build your reputation quickly, it is better to target a small geographic area when you're starting out and then expand with time, even if you're spending to get leads, it is cheaper to get them with geofencing. It also increase brand awareness, because peoRead more

    Geofencing helps a business because you can build your reputation quickly, it is better to target a small geographic area when you’re starting out and then expand with time, even if you’re spending to get leads, it is cheaper to get them with geofencing.

    It also increase brand awareness, because people know what you do and will grow accustomed to your brand and identity.

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  4. Asked: May 15, 2024In: Money & Business

    How can I unlock true financial freedom? 

    spencer
    spencer Enlightened Mentor
    Added an answer on June 25, 2024 at 5:29 am

    By building a great business, that is capable of selling a lot of units or offer a service with a very high margin, that's how you unlock your financial freedom, there's no way you can achieve freedom by working for others or Investing. Start your own business and then grow, it takes time, at leastRead more

    By building a great business, that is capable of selling a lot of units or offer a service with a very high margin, that’s how you unlock your financial freedom, there’s no way you can achieve freedom by working for others or Investing.

    Start your own business and then grow, it takes time, at least 10 years before you’ll be able to see any changes in your business.

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  5. Asked: August 15, 2023In: Money & Business

    What are the functions of loan?

    spencer
    spencer Enlightened Mentor
    Added an answer on June 25, 2024 at 5:23 am

    Loan functions in a different way and most people take on loan because they have a pressing issue they want to solve for example, they want to pay fees and their salary is not due or they want to start a profitable business and their capital isn't up there. Taking a loan is considered as risk especiRead more

    Loan functions in a different way and most people take on loan because they have a pressing issue they want to solve for example, they want to pay fees and their salary is not due or they want to start a profitable business and their capital isn’t up there.

    Taking a loan is considered as risk especially when it’s being done for the sole purpose of investment as it can make an investor stranded if his investment fails to yield.

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  6. Asked: September 6, 2023In: Crypto & Forex

    How can I earn free cryptocurrencies?

    spencer
    spencer Enlightened Mentor
    Added an answer on June 25, 2024 at 5:11 am

    You have to steadily search for airdrops, air drops consists of some tasks you'll have to do like opening a wallet with an exchange or signing up for an account, you also have to be active in telegrams group where these airdrop takes place. That's the only way I know you can qualify for a free cryptRead more

    You have to steadily search for airdrops, air drops consists of some tasks you’ll have to do like opening a wallet with an exchange or signing up for an account, you also have to be active in telegrams group where these airdrop takes place.

    That’s the only way I know you can qualify for a free crypto, if you’re lucky and get in early, you can cash in on it and make money after it’s being listed on exchanges.

     

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  7. Asked: June 21, 2024In: Money & Business

    What are the factors that lead to financial success?

    spencer
    spencer Enlightened Mentor
    Added an answer on June 24, 2024 at 5:14 pm

    Discipline is the number one factor, you have to want it so bad for it to happen, you should take control of the choices you make in life, you should reduce your desire for material needs and start thinking of ways you can offer value to the world. Save every penny you have, look for business and idRead more

    Discipline is the number one factor, you have to want it so bad for it to happen, you should take control of the choices you make in life, you should reduce your desire for material needs and start thinking of ways you can offer value to the world.

    Save every penny you have, look for business and ideas where you can add value and try as much things as possible and you’ll definitely hit the freedom lane, it takes time and won’t happen overnight.

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  8. Asked: September 16, 2023In: Money & Business

    Why is investing interesting?

    spencer
    spencer Enlightened Mentor
    Added an answer on June 24, 2024 at 5:10 pm

    Investing is interesting because you get to watch how the decisions you make turns into spendable $$, it's a really nice thing to see, if you're good in Investing you'll get to make enough money without actively working, as Investing is done passively. It is also a good way to become super knowledgeRead more

    Investing is interesting because you get to watch how the decisions you make turns into spendable $$, it’s a really nice thing to see, if you’re good in Investing you’ll get to make enough money without actively working, as Investing is done passively.

    It is also a good way to become super knowledgeable, you get to know how the economy works, how institutional banks transact and above all how to take advantage of that.

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  9. Asked: April 23, 2024In: Money & Business

    Do you need marketing skills to make money as a writer?

    spencer
    spencer Enlightened Mentor
    Added an answer on June 24, 2024 at 5:04 pm

    Yes, you need marketing skills to make money as a writer, because even if you know how to write perfectly, how can you let the world know about you, you need marketing techniques to actually make yourself known. But the good thing is you can learn marketing on the go as a writer by experimenting witRead more

    Yes, you need marketing skills to make money as a writer, because even if you know how to write perfectly, how can you let the world know about you, you need marketing techniques to actually make yourself known.

    But the good thing is you can learn marketing on the go as a writer by experimenting with different stuffs, it’s an ideal way to learn how the mind works and what makes it tick.

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  10. Asked: September 6, 2023In: Money & Business

    are sports viewing centers still lucrative in your area?

    spencer
    spencer Enlightened Mentor
    Added an answer on June 24, 2024 at 5:00 pm

    Yes, sports viewing center are pretty much lucrative in my area, people still pay to watch football and there are new joints that are being created with other types of entertainment like a mini bar and restaurant. It's a good business to start if you have a good location and will not cost much to geRead more

    Yes, sports viewing center are pretty much lucrative in my area, people still pay to watch football and there are new joints that are being created with other types of entertainment like a mini bar and restaurant.

    It’s a good business to start if you have a good location and will not cost much to get started, you can start such businesses with as low as $300 in my country.

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