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Pennon Partners Claims Its Debt Consolidation Program Will Get You Out of Debt

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Best 2019 Reviews provides expert reviews for consumers looking to consolidate their credit card debts. A particular website, Pennon Partners, is of interest to best2019reviews.com. After a Pennon Partners review, it was determined that the same organization was also known as Jayhawk Advisors, Clay Advisors, Pine Advisors, Colony Associates, Alamo Associates, and White Mountain Partners. Pennon Partners and pennon partners com are part of the new type of Debt Consolidation Loan companies that are marketing to American consumers. Generally, they engage consumers through direct mail offers, cold calling and internet advertisements.

Debt Consolidation is the costliest in terms of borrowing money. Check the Debt Consolidation Loan reviews. They make it simple and easy to borrow money due to the highly liquid nature of the money.  Younger people who are susceptible to impulse purchases are likely to become addicted to the ease of spending money they don’t currently own.

When it comes to credit cards, the smartest course of action is to have no credit cards at all. You can have one credit card if you want to account for emergency payments, but it should be used for emergencies only.

Your financial life and your personal loan offer will becomes much more manageable when you have one less thing to worry about. Credit cards, for all the flexibility they purportedly bring, make it too easy to fall in debt. It becomes a concern when you depend on them to pay for just about everything, from grocery bills to gas and utility bills, entertainment, and shopping clothing.

Most households wouldn’t find themselves in a financial stumbling block if they use their credit cards with discipline. The idea is to spend reasonably and pay off the debt before the end of every month. If nothing else, at least pay more than the minimum payment and don’t accrue more unneeded debt.

How to Determine if You Have too Much Debt

The most efficient way to calculate if you have too much debt is to use a formula known as the debt-to-income ratio or DTI.

This is the formula: recurring monthly debt / monthly income = DTI ratio.

The debt ratio can be determined in two ways, one includes mortgage, the other excludes it. The one including mortgage is often used by creditors to approve or reject a loan.

So for instance, let’s assume your debt payments every month are equal to $4000 and your monthly income is $8,000. The math for that is 4000/8000 = .50 or 50%. This is extremely high. You have way too much debt that you can handle.

Lenders prefer to work with individuals who have less than 35% or less after including mortgage or rent payment.

The other method to determine your debt to income ratio is to exclude mortgage payment. The resulting number should be less than 10% and not more. Anything larger should be a serious cause for concern.

How to Fix a Bad DTI Ratio

The best way to fix things is to lower your expenses and try increasing your income. Unfortunately, old habits die hard. Even though you may end up increasing your income, some people respond by increasing their expenses. This makes it harder to play catch up with debt and they find themselves caught in a vicious cycle.

How to Seek Help

If you feel you are too overwhelmed with your debt, the last thing you should do is to seek out quick fixes.

Things such as loans that promise no credit check must be avoided at all costs. It is important to realize they will make your situation worse, and not better. The best thing you can do is contact a nonprofit credit counseling agency that will try to seek lower interest rates on your credit card. This is known as debt management, and should usually take 3 to 5 years, leaving you debt-free at the end.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

Business Strategies of Michael Gastauer

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Michael Gastauer, a German billionaire and entrepreneur, has led Black Banx to remarkable heights with his innovative strategies in the digital banking sector. As the founder and CEO, his vision has transformed Black Banx into a significant player in the global financial industry, serving millions and revolutionizing banking practices. 

Gastauer’s approach has been distinctly customer-centric, focusing on solving real-world problems through accessible financial services. This strategy has not only captured a vast market share but also established Black Banx as a model of innovative fintech success.

Innovate Early and Often, Invest Strategically

Gastauer’s journey began with a robust foundation in the fintech sector, where he initially created and later sold a payment services company for US$480 million. 

This significant capital boost allowed him to invest in his next venture: Black Banx. Launched in 2014, Black Banx differentiated itself by offering real-time account opening and cross-border payment solutions to a global audience, addressing major inefficiencies in traditional banking. 

Gastauer’s foresight in identifying and investing in these key areas early on allowed Black Banx to scale quickly and efficiently. His strategy was clear: leverage high initial investment to accelerate growth and secure a substantial market presence before competitors could catch up.

Within a year of its inception, Black Banx expanded rapidly, reaching over 1 million customers. This was just the beginning, as the platform soon integrated cryptocurrency options, enhancing its appeal and utility for a broader client base. By the end of 2018, Black Banx was valued at US$9.8 billion, a testament to its rapid growth and the successful implementation of its business model. 

Gastauer’s bold move to integrate cryptocurrencies early in the game positioned Black Banx as a pioneering force in fintech, well ahead of traditional banks.

Pinpoint Problems and/or Challenges

One of the core components of Gastauer’s strategy was to tackle financial exclusion head-on. Black Banx made significant strides in offering banking solutions to the unbanked and underbanked, particularly in regions with limited access to traditional banking services. 

By leveraging technology and strategic partnerships with mobile network operators, Black Banx has been able to extend its reach and offer innovative banking solutions to millions worldwide. This strategic alignment with mobile operators has been crucial, as it taps into an existing infrastructure to reach remote areas, significantly lowering the cost of expansion.

The platform’s ability to facilitate quick, cost-effective international money transfers has been a game-changer, particularly in markets like the Middle East, Asia, and Africa. This not only supports individuals and businesses in these regions but also contributes to the overall growth and stability of the global economy. 

Gastauer’s focus on simplifying and reducing the cost of these transactions demonstrates a deep understanding of the core needs of his customers, thereby enhancing customer loyalty and trust in the brand.

Take a Tech-Driven Approach

Under Gastauer’s leadership, Black Banx has remained at the forefront of technological integration within the banking sector. The adoption of blockchain, AI, and data analytics has enabled the platform to offer personalized financial services, enhancing customer experience and satisfaction. 

This technology-driven approach ensures that Black Banx stays ahead of industry trends and continues to offer relevant and secure banking options. Gastauer’s commitment to integrating advanced technology not only streamlines operations but also provides a scalable model that supports continuous growth and adaptation in a rapidly evolving market.

Leave No Market Unturned

Gastauer’s vision for Black Banx was never limited to a single region. By 2023, the company had expanded its services to include 28 FIAT and two cryptocurrencies, with a robust presence in over 180 countries. This global approach has not only diversified the company’s customer base but also minimized regional economic risks, allowing Black Banx to thrive in a competitive and fast-changing financial landscape. 

The strategic decision to operate across diverse markets also mitigates the risk of localized economic downturns affecting the overall health of the company.

Set Milestones

The year 2023 was a landmark year for Black Banx, as it reached 39 million customers and reported revenues of US$2.3 billion. The company’s ability to maintain a high rate of customer acquisition and satisfaction speaks volumes about its effective strategies and customer-focused approach. 

The first quarter of 2024 continued this trend, with Black Banx announcing a pre-tax profit of US$639 million and revenues of US$2.1 billion, driven by strategic implementations like fixed monthly account maintenance fees. Gastauer’s strategy to introduce fixed fees was a calculated risk that paid off, providing stable revenue streams and further solidifying Black Banx’s financial foundation.

Michael Gastauer’s strategic foresight and relentless innovation have propelled Black Banx to new heights, making it a leader in the digital banking sector. His commitment to financial inclusion, coupled with an aggressive expansion strategy and technological integration, has not only shaped the future of Black Banx but has also set a new standard in the industry. 

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