DNYLL Welsh & Co.

10/15/2024

Did you know?

There are approximately 11.7 billion one dollar bills in circulation in the US, with 8.9 billion 20 dollar bills and 11.5 billion 100 dollar bills. There are about 39.8 billion notes in circulation all together. For coins, there are about 28 billion in general circulation.

According to the personal finance website GOBankingRates, there is $8.28 trillion worth of paper notes and coins in circulation in the world. Per the outlet, this number is based on a 2021 estimate from the Bank for International Settlements.

Read more at
https://www.titlemax.com/discovery-center/how-many-dollar-bill-circulated/ and
https://www.moneydigest.com/1486588/how-much-money-exists-world/ #:~:text=Liquidity%20is%20key%20when%20categorizing%20money&text=According%20to%20the%20personal%20finance,the%20Bank%20for%20International%20Settlements.

10/14/2024

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08/26/2024

Ever wondered how you FICO score was calculated? Here’s how!

Swipe for a breakdown ➡️

08/24/2024

As of July 2024, the national average credit score in the United States was 717.

✨800 to 850: Excellent
Individuals in this range are considered to be low-risk borrowers. They may have an easier time securing a loan.

✨740 to 799: Very Good 
Individuals in this range have demonstrated a history of positive credit behavior and may have an easier time being approved for additional credit.

✨670 to 739: Good 
Lenders generally view those with credit scores of 670 and up as acceptable or lower-risk borrowers.

✨580 to 669: Fair 
Individuals in this category are often considered “subprime” borrowers. Lenders may consider them higher-risk, and they may have trouble qualifying for new credit.

✨300 to 579: Poor 
If you find yourself in the poor category, it’s likely you’ll need to take steps to improve your credit scores before you can secure any new credit.

VantageScore suggests separating its credit score range (300 to 850) into different groups, with a score of 661 or higher considered a good score. However, lenders may have their own criteria for what they consider to be a good credit score.

Lenders frequently use variations of “prime” to describe consumers’ creditworthiness. But you might think of these categories as poor, fair, good and excellent credit scores.

90% of lenders use credit/FICO scores over Vantage.

08/19/2024

Using your credit cards to automate bill payments and paying them off monthly can be highly beneficial. I advise doing this ONLY if you have a BUDGET and the bills you’re automating are ALL accounted for in said budget. This way, there should be no issues with paying your credit card balance IN FULL each month.

✨Timely Payments✨
Automating your bill payments with a credit card ensures that your bills are always paid on time, helping you avoid late fees and maintain a positive payment history.

✨Improves Credit Score✨
By paying off your credit card balance in full each month, you keep your credit utilization low, which is a key factor in maintaining or improving your credit score.

✨Earn Rewards✨
Many credit cards offer rewards like cash back, points, or miles on purchases. By using your card for automated payments, you can earn these rewards on your regular expenses without additional spending.

✨Simplifies Financial Management✨
Automating bills with your credit card consolidates multiple payments into one monthly statement, making tracking and managing your finances easier.

08/01/2024

✨ GIVEAWAY ALERT! ✨

We’re thrilled to announce The ABCs for Boss Babies Giveaway! This is your chance to win an exclusive signed copy of our self-published children’s book!

How to enter:
1️⃣ Follow us on our socials:
2️⃣ Like this post 💚
3️⃣ Comment and tag 3 friends who’d love this for their little one! 🧚🏽

Bonus: Share this post to your story and tag us for an extra entry!

Last day to enter is August 21st. The winner will be announced August 26th. Don’t miss out—good luck to all! 🍀🙌🏽

A very special thanks to for sponsoring our first book giveaway 🥹

07/22/2024

Swipe to see four reasons you should be investing ✨

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07/01/2024

Want to open a new account? Here are some things to consider before you do:

💰Initial Deposit Requirement
Many financial institutions require some kind of initial deposit to create an account. These fees often range from $5 to $100 for standard accounts. There are accounts that don’t have any initial deposit requirement, leaving your account empty until you later choose to transfer money into it.

💰Minimum Balance Requirements
Many accounts have balance requirements, which is the lowest amount of money you must have in the account. This is typically assessed daily. If you drop below that amount, you may incur fees. Look for an account that won’t punish you for dropping below a minimum, but do keep in mind that financial institutions have the right to close accounts that aren’t being used.

💰Annual Percentage Yield (APY)
Financial institutions will often advertise the Annual Percentage Yield (APY) over the simple interest rate, because it more accurately reflects the interest earned by taking into account compounding interest. With compounding, your account balance grows due to the interest over time, and that amount also earns interest. However, the basic interest rate and the APY are often very close, particularly when interest rates are low.

💰Account Maintenance Fees
Common fees include low balance fees, annual or monthly maintenance fees, dormancy/inactivity fees, and ATM fees. Sometimes these fees are waived if you meet certain requirements such as maintaining a minimum balance.
*** Some savings accounts don’t have these fees at all, which you should look for when considering a new savings account.***

Read more here https://www.alliantcreditunion.org/money-mentor/what-to-look-for-in-a-savings-account

06/25/2024

“The best credit card hack? Pay off your balance in full and on time. While this might not be the most glamorous rule, it’s the one that matters the most. This practice helps you avoid interest and fees, and it also boosts your credit score. A significant factor in determining your credit score is your credit utilization ratio — or how much credit you’re using versus what you have available — which ideally should be kept below 30%.”

Read more on credit card hacks at https://use.expensify.com/blog/credit-card-hacks #:~:text=The%20best%20credit%20card%20hack,also%20boosts%20your%20credit%20score.