Money Moves

Hey Rayne Drops! Money is a resource and most of the time when it's talked about in music, it relates to spending it and using it to show immediately what you have and be a status symbol. I say, that's cool and you know I love a new shoe BUT let's have a space where we can support each other stacking and building legacy.

I believe we all have insight on how to make things happen since we are all unique and have different skills. What would happen if we started putting those things together? - GREATNESS and probably some really good music inspired from it.

Please share in the comments of this blog, download the money saving hack eBook below and tell a friend. Let's Move!

Rayne Drops Money Level Up Corner

Blog: She Levels Up™

Crypto, Blockchain & NFT's 

Yes, there is an explosion that has been in the making for about 10+ years. You've heard of Bitcoin, blockchain and I'm sure by now, NFT's but may not be sure exactly what they are and/or what they may or may not mean to you.

Here's my take...

So much of our financial lives are actually taking place online so crypto is not a farfetched thing to transition to. Essentially, crypto assets like Bitcoin, Litecoin, Ethereum, Ripple, NFT's, or any other digital file or link are on what is called a blockchain. There are different types of blockchains but what is most important to know is the basics of how they work. They work off of what is called a "smart contract".

Smart contracts in one of its simplest forms is even a vending machine. Yup, every time you use a vending machine, you are using blockchain technology. How so? It's a simple contract that you are agreeing to in order to get an asset (or snack). In the example of the vending machine, there is a set price for a bag of chips you want. You supply the vending machine with the money for your selection as an agreement and the machine gives you the bag of chips.

With blockchain, instead of there being just one vending machine, there are usually a series of machines that verify both sides of the process. They verify that the asset (bitcoin, a digital file, or in the case of the vending machine, chips) are actually there and that the purchaser actually has the agreed payment.

This takes up a good amount of power but is seemingly instantaneous and faster than a wire transfer. So in a sense, this makes doing business more efficient and in some ways secure. 

Crypto can be attain in a number of ways as long as you have a computer or smart device. Cashaspp, Coinbase, Kucoin, Metamask, and many others can be used to buy, transfer and sell crypto currencies which will open the door up to you being able to acquire crypto assets like NFT's. Digital art is booming right now, gaming has been making waves and I'm sure music is to follow. There are whole marketplaces you can purchase NFT's to get access to your favorite creatives creations. 

As the world moves further into a digital place, one thing I hope remains is some form of physical currency. It is still a great equalizer and if nothing else, emergency parachute. In a time where negative hacking can turn up as much as a handy time and energy saving life hack, having some physical money in case one of your crypto wallets gets lost can be the difference between groceries paid for and being hungry for a period. Or if someone is on really bad times and is on the street, how do you give to the poor if physical currency becomes obsolete and they do not have a smart device or a safe place to charge it? There are other considerations but this is a big one that I don't hear much talk about.

I am still learning about this whole ecosystem myself but 2 resources I like that break all of these aspects of the new digital life down further are finance academy and Coindesk.

And you know I could not write about this without trying my hand at at least one of each so, I've gotten a small amount of crypto (on the blockchain) and created my first music NFT for the remix to the Rayne Drop favorite Shell Shocked! Check it out the video here and let me know what you think!

From Multiple to Maxed 

Its okay to have more than one or two credit cards but there are certain stipulations to making them work to your benefit. 
If you've had trouble with debt before because you've lacked some level of spending discipline then hold off on trying this a bit until that is addressed. If you're ok in the disciple department or you keep an ultra low balance on your one credit card then know it will not hurt your credit if you have another. Once you have it your biggest job is to make sure you do not ever keep a high balance on either one. 

It shows you can manage a large sum available to you without going crazy. If this happens and you keep everything else with your money in order, you should see some improvements in your credit score.

Don't Blindly Invest 

Go with what you know and if you are thinking of trying another investment or savings vehicle, research the heck out of it -- just don't take one other persons opinion. 

The information they give you may be 100% accurate but you need to have a full scope of your risks in any investment you make. Know all of the pros and con's and then decide whether or not you can tolerate the worst happening or if it would be too devastating.


Here are some of my suggestions for accessible information sources before you invest:

Realty: Danielle Pierce, Mark Whitten, Max Maxwell, Douglass Depte

Stocks: Red Panda, Wall Street Trapper, The Black Financial Channel, Our Rich Journey


There are so many resources. What are your favorites?

Analysis Paralysis 

This really applies to every area of your life. Your home, money, business, health - everything.

Analysis paralysis is real. It’s great to know that you need some level of knowledge to adequately take a leap of faith and succeed; however, if you never apply that knowledge, what are you really gaining? Knowledge is a resource that must be used in order to be leveraged. Also when you use what you know, what you've learned will be reinforced and you'll gain more knowledge along the way. Remember, you never stop learning and things are a process.

In the comments, write down what action you're going to take by the end of the week toward at least one of your goals.

Keep Your Oldest Credit Cards Open 

The older your credit accounts the better so keep your oldest credit card open. If you've just paid it off or are about to, don't close it. Put it away and let it now help you raise your credit score by maintaining a low balance that you pay off every month.

I ain't out here needing your validation...I be bout my money”


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