Conversation #118 | Credit Sayings I Had To Unlearn

Welcome to Another Great Episode of The Mindfully Rich Podcast!

Today I'm discussing "Credit Habits or Sayings I Had To Unlearn." Like the money habits I talked about last week that I had to unlearn, there are some credit habits and saying that I had to unlearn too. I get it; we probably learned it in childhood or growing up, picked it up from our environment, and made these myths true, but it's okay. I'll help you debunk those habits and sayings so we can all walk truthfully and give you my reasoning.

Here are today's Credit Sayings I had to unlearn; 

• "No Credit Is Good Credit"
• "Checking Your Credit Will Lower Your Score"
• "If Your A Person Of Color, Your Credit Score Will Be Low"
• "You Don't Need A Credit Card" 
• "You Have To Spend On Your Credit Cards To Build Credit"
• "Marrying Someone With Bad Credit Give Your Bad Credit Too"
• "Loaning Money To Family & Friends Even When You Don't Have It"

Get Into This Episode Ya'll! 

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Transcript

SPEAKER_00 0:00

Hello, hello, and welcome back to the Mindfully Rich Podcast, your weekly look at life and finances with a twist, where we talk about improving your overall relationship with money and building better financial habits. On each episode, I'll discuss real life situations and give y'all practical advice. The point of this podcast is for you to stay in your financial lane so you won't end up broke. I'm the creator and host, Gina Richie Richardson. Now, let's jump into today's conversation. What's up, y'all? What's up? I'm back. I'm back. Yes. Got a little raspiness going on with the voice. I haven't had this happen in a while. And I truly believe it was because this weekend we went to an RB party, and I love RB music. Okay, y'all already know I love music because majority of the episodes have had some type of music title. And RB, let me tell you what, I was singing my heart out. All right. And so that's where all this raspiness is coming from, along with me singing for majority of the day at church. I have three church services that I sing at my church every other week. And so that's why y'all finna get raspy goodness, okay? But thank y'all so much. You know, I gotta start with gratitude. Yes, I am back, and it feels good. I think it's feeling good for y'all too, you know, just from judging on how many of y'all have been listening to the episode. Of course, continue to listen, continue to share, do all of the things, okay? And so my gratitude always goes out to y'all, my rich gang. I appreciate y'all for listening, for sticking with me during a time when I was consistent. And in this time where I'm becoming more consistent, I need y'all to continue to hold me accountable. Send me the messages on Instagram, girl, where you at? What you doing? All of those things, okay? Continue to send them to me. And yes, to all of the reviews. Let me tell you what. She was like, let me sit down and I want to look at how people feel about your podcast because she's listening to me more and more as I'm doing these episodes. And she's like, okay, well, let me see what people think, not what you think about the podcast. And so she was reading reviews and was like, okay, I guess you are doing a little something, M. And I was just like, I guess I am. And so gotta let y'all know I really appreciate y'all. Y'all are the reason that I continue to sit up here and give my public service to the world of that's that's in the form of financial advice and guidance and all of the things, money and credit. Okay, that's all I can say. So we're gonna go ahead and jump into our mindful money moment. And that is the time where I will take a topic and discuss it and go through it, give y'all my reasons why I feel the way that I feel about said topic. And so let's jump jump on back. Last week, I talked about money sayings and habits that I needed to unlearn. It was a really good episode. If y'all haven't listened to it, go ahead and go back. It was really good just because there are quite a few money sayings that I thought stuck out that I wanted to talk about unlearning. And this is the thing when it comes to us, especially as adults, right? And I've been adults in for a while, I'm 38. And so I know that we all grow up in communities, we grow up in places, and we're around different people that may say things regarding money and/or credit, right? Everybody is an expert when it comes to money and credit nowadays, okay? And the things that you pick up are sayings that they've lived by or things that they've believed as truth throughout their life. So, of course, it's gonna be something that they continue to say, and those may be things that you have intentionally or unintentionally picked up, and now from that environment that you were in where you heard that, you may practice that in unintentionally in your life just because it may be something that's hard-grained in you as a truth, right? And I had a few of those when it came to money, and I had even more of them when it comes to credit, and so that's the reason why I wanted to talk to y'all today about seven different sayings, seven credit sayings. Let me go ahead and be very clear seven credit sayings that I've heard over time in my community that I would love to discuss with y'all, and we're gonna pick these things apart. I know y'all can't talk back to me, but let me tell you what. You can talk back to me on Instagram when I post it. You can get in the comments, you can share, you can start think pieces, you can do all of the things. I love it all. Okay, so let's go ahead and jump into it. So the first credit saying that I had to unlearn is no credit is good credit. All right, so let's break this one down. For years, I have heard elders, I'm gonna say elders because not right now in my in my you know real life, just because of what I do, and I didn't been in the financial industry for 16 years, ain't nothing really that's not gonna faze me at this particular point. But in my formative years, when I would hear people say no credit is good credit, I was like, oh my God, okay. So what that does is deter you from actually wanting to get any credit because it's like, okay, I'm gonna have good credit if I don't have credit established. And so what I've learned, like I said, I'm gonna throw out my experience, my certifications, and things of that sort just to make sure that I clarify these points and give y'all reasoning. When you're saying that no credit is good credit, you're basically deterring, once again, someone from obtaining credit. But there are too many areas in our life that they use credit as a factor to determine if you can have said thing. And when I'm talking about that, I'm talking about the rental industry. So whether you're renting a house or if you are renting an apartment, they're gonna be reviewing your credit. If you don't have credit established, what you think they're gonna ask you for, right? Are they gonna give you that rental, that apartment? They're probably gonna ask for some type of co-signer of some sort or someone to list down just because they don't know how you pay back yet. They don't know what your history looks like because your credit report, whether people want to believe it or not, is a character report that shows do you pay people back when you are loaned something? And it also shows character when you do pay people back, when you do have the higher score. All right. So another area in our life that's gonna be reviewing credit. They use credit as a factor when they're giving you utilities. So your utility company, they're gonna review your credit report. They may review the credit report and/or score. I'm not sure. I need to look more into that, but I know that they run it. I don't know what they're particularly looking at, if it's the report or score. But if you don't have a score generated, one thing I do know for sure is that they're gonna ask you for a deposit. All right. So in that case, is no credit good credit? No, it's not. Okay, that's actually costing you money. All right, because you're gonna have to put down a deposit. Not saying that, okay, I can't put down this little deposit. What I am saying is if you had credit established and it was decent at best, you wouldn't probably have to put down a deposit. So that's how it's costing you money. All right. And of course, you have some employers because all of the jobs that I've worked have been dealing with some type of financial peace, they're reviewing my credit report. They're reviewing my score, they're reviewing all of the things, all right, just to see where I'm at. And employers will, especially in banking. I don't know everybody's field and how they look and how much the credit report and or score are based on you actually getting the job. But in my industry, I've been turned down. I can remember early before I got into bank. Well, it wasn't too far, y'all. Let me tell you this. When I was 18, because I got into the banking industry at 19. When I was 18, I did have a charge off from a bank, and I didn't know what a charge off was, and it was listed on my credit report because what a charge off for a bank looks like, it was on my bank account where I had gone into overdraft. And child, I was 18 in 2003. Okay, so y'all roll with me on this one, all right? Because it was a lot I ain't know. All right, and there's a lot a lot of people don't know right now, but I had overdrafted the bank account. I didn't know how to use that thing. I didn't know they wanted me to pay this money back. What? Okay, you shouldn't have let me get it, okay? If I ain't had no money in the account, don't extend it. That's 18-year-old Gina, y'all. Okay. That's 2003, Gina. All right. And so what they did was I didn't pay it. They charged it off. It was listed on my credit report, it was listed on my check systems. And check systems is a system that banks utilize to determine if they're going to give you an account or not, and they utilize it to see who all what other bank or financial institutions that you owe money. And so, because I had that on there, they weren't going to let me work at this financial institution. And which bank was that whether I was working, was it a bank or a credit union at that time? Was that Hancock? I think it was Hancock. It was Hancock Bank in Mississippi. And they sent me the letter. But the good thing was they let me know all right, this is what you do to get rid of that. Was it Hancock? No, y'all, I'm lying. It was not Hancock, it was Tyndall. It was Tyndall Federal Credit Union. I was actually in Florida. And so they sent me what I needed so that that way I can get rid of it. And that was my entering into banking at 19. So um, that's what happened, and that prevented me from almost getting a job. But what they said was you can clear it up. And so when you have a bank account that's overdraft, it's like, oh, okay, who I owe this to? And I owed, I think it was TD Bank. It was some bank back at home. It's in Homewood. Dig, I can't even think of the name of the bank. I sure want to call them out, but I can't think of the name of the bank. But um, the point of the story was I was young. I didn't understand what banking was. I didn't understand what a credit report was, what check systems was, what any of those things, and what the results would be if I didn't pay my account off, or if I didn't pay in a certain amount of time. So I wasn't aware. But I gave you that story to show I applied for a job. I almost didn't get say a job because they saw something on my credit report and in my history that gave them calls for pause. So I had to correct that in order for me to get the job, just to give you an example of that. And then the next area in our life where credit is used as a factor to determine if we're getting something, of course, is when you are getting a loan. When you're getting a personal loan, if you're getting a credit card, you're getting a car loan, you're getting a mortgage loan, think of any of the loans. They all are going to be reviewing your credit report. And if you don't have history established, the no credit, once again, that we're talking about, then they're gonna require you to have a co-signer. Not saying that that's a bad thing because some people have to start off that way when they don't have credit established. But I just want you to know if you own up there in age, living on the no credit is good credit, you're gonna run into some problems in some area in your life. But it's up to us to make that determination if I'm going to start establishing some type of credit history so that that way I don't run into these problems of needing a co-signer, of needing to put down deposits, or if I'm gonna just continue to live this way. That is completely up to y'all. I just want to let you know the saying no credit is good credit is absolutely false. All right. At me if you need to. All right. Another thing, I said this earlier, no credit is is very costly because that means that you are rolling through life and you're paying for everything with cash. All right. And if you got it, baby, more power to you. Okay, go ahead and get it. Just letting you know it's going to be difficult for most of us. All right. So moving on to the next thing checking your credit will lower your score. Now, this is something that I see ran on TV ads to this day. Anytime I'm doing financial wellness workshops or I'm coaching someone and I'm talking about credit, they're telling me, if I check my credit, it's gonna lower it. We can't check it, we can't do this, we can't do that. And I'm like, if we don't check it, we don't know what needs to be changed. We don't know what you what behaviors you need to update of some sort so that you can get a better score. We don't know if if the information is accurate. You have to review your credit report. You absolutely have to because there are too many other areas in your life where they're gonna be reviewing your credit report. You got to make sure that it's right. And then also the scammers out here, child. The scammers out here, they they're getting good. They opening up accounts and people's names, they letting the accounts go bad, and then people ending up with collections and charge-offs on their credit report. So you got to review your credit report. And when you're reviewing your credit report, and then there are some businesses where they're reviewing it, like you have some employers where it may come off as a soft credit pool. Just like when you're reviewing your credit report, it's considered a soft credit inquiry. And it's in and we in the industry of banking and finances, we say pool because we're pulling your credit, but it the actual term is an inquiry where your credit report is reviewed, right? A soft inquiry is just like you're looking at it, it's for the purposes of gathering information, making sure that it's accurate, right? A hard inquiry is where you are applying for credit of some sort. That is normally what a hard inquiry is. I have now seen in today's day that some employers, when they're reviewing credit reports, it comes off as a hard inquiry. I truly believe you should be able to get those removed because it should be a soft. I don't know exactly if they just use a bad system or what. That's not what we're talking about today. But in most cases, soft inquiries, you andor someone trying to gather information about you. That can be you're an employer, a utility company, an apartment, the uh apartment rentals may be different. Those may be hard. I'm not too sure. I can't be quoted for truth on that one particularly, but I can be quoted on your soft versus your hard inquiry. Soft inquiries do nothing to your credit score. Hard inquiries will show some type of movement because you are now applying for some type of loan or you're applying to receive credit in some type of way. Now, on average, people will say, How many points will my score move? Right? Your credit score movement all depends on what's all on your account. I will say you will see at least five points decrease in your score with an inquiry. At least five points. Now, that's going to be determined on what's actually on your credit report. So scores will vary, is all I can say. All right, because we don't have a true chart that shows if you do this, if you do that, because our credit scores have completely different mixes. Okay. Moving on to the next saying I've had to unlearn is if you're a person of color, your credit score will be low. Chow, I didn't heard this so much in the black community, especially, you know, being a black woman. And I've heard that other people of color have heard this in their communities as well, where people will contrast if you're white, your credit score will be high. But if you're black, your credit score will be low. I'm gonna give y'all an example of this. And so, even in today's day, I believe it was the end of last year, there was a video. Nope, it was summertime of last year. There was a video put out there, and I did a stitch, meaning the video played, and I had to put my little two cents on the end of it so people can hear what I was saying. It was a white guy, it was hot outside, and he stepped outside and he turned into a black guy, and the black guy said something to the effect of, now my credit score is gonna be low. And everybody was kikiing all over the internet. All right, they loved it. Going up for it. So I made a video responding to it, and child, when I tell you this video, I don't know what the viral numbers are, but literally within I want to say a couple of hours, I was already at like 50 something thousand views of people like bashing me. It's just a joke, it's a joke, just laugh, calling me old, and all of this other stuff. And I was just like, oh my God, am I old? Forget all the other stuff y'all saying. That was the only one that mattered, all right? And so that saying perpetuates a negative, I don't know the word to really put there, but it's not, it's not a saying that I want perpetuated in our community, and it's not a stereotype that I want to go forward as people believing it to be truth, right? Just because it's so false. It doesn't even make sense. Your credit is built of the loan accounts that you open up, right? Whatever loan you open up, whether that be a personal loan, that be a car loan, that be a mortgage, that be a credit card, all of those loans that you, your social security number, open up. And if you're paying it on time, if you're paying it slow, if you're not paying it, the history of your credit from when you started to when it ends, that's on your credit report. That's how your score is being determined. The mix of credit that you have as a whole, the inquiries for new credit for new loans that you're taking out, that's how your score, your credit score is being determined. Not if you're black, if you're white, if you're Mexican, if you're Asian. Your race has nothing to do with your actual credit score. The demographics, where you live, have nothing to do, where you work, have nothing to do with your credit score. The thing is, people have believed this for so long because it's been a saying for the longest. All right, since I was a kid. I can remember people saying this. But it's been a saying for so long that when I did a financial wellness class, I'm just gonna say here in California, there was a white woman in the class, and I was talking about credit, and she interrupted me and she said, So it doesn't go off of because I do have a good job and I do live in a good neighborhood, and I am white, and I was thinking to myself, oh my God, people really do believe in this. Like, and she was an older white woman too. So I want to make sure that we understand your race, if you are a person of color, has nothing to do with your credit score. Nothing. All right. Once again, the factors that do determine your actual credit score are the loans that you open and the payment history that you keep on those. All right. The mix of your actual credit, meaning you got a credit card, you got a car loan, you have whatever. It just looks at the different mix of loans that you have on your actual credit report, the history that you keep from when you start credit, everything in the middle to when your credit ends on that particular loan and the inquiries that you make to obtain new loans. That is how your credit score is determined. Point blank, period. Argue with your mama. All right. The next saying, okay? The next saying I had to unlearn is you don't need a credit card. Now, I want y'all to hear me. I'm gonna talk about some factual things that resonate with why some people do need a credit card. And then I'm gonna also talk about some experimental things that I've seen in my own life and in other people's lives around me. So check this out. Gina needs a credit card. All right. I don't know about y'all. I'm in the business of leveraging my credit. I've done a good job of building it up. I can leverage my credit and I can pay for something a million times if I want to. Because when I'm using my credit card, I can pay for it, pay it off, buy it again, pay it off. Buy it again, pay it off. Buy it 50,000 more times, pay it off, right? Now, of course, as long as I'm earning the money to make sure that I can pay it off, we're in a good situation. If I'm in a situation where I'm buying something and I can't pay it, oh no, right? That's not a good situation. But that hasn't been my story. So for me, leveraging my credit makes sense instead of me using the money that I've saved or using savings, dipping in my emergency fund to pay something off. I'm a person who doesn't mind leveraging debt to get the things that I need, right? I see the benefits in doing so and also have built my credit history in doing so. So that's the reason why I feel comfortable with saying a credit card can be useful to most people. Now, for people who don't have the discipline to use their card and pay it off, or use their card, have a plan to pay it off, then yes, you can rack up a bunch of debt doing that. But overall, a credit card's function and purpose is to be a revolving line of credit to use when you need it. It's people who get in situations. Sometimes where they may not intend on not paying their credit cards back, but life happens. And then because of the situation that they're in, they make credit cards seem like they're the culprit. No, in actuality, what happened was you used your credit card, you may have intended on paying it back. Life started happening, you weren't able to pay it back, so now you racked up a bunch of debt on your credit cards. Those stories happen all the time to lots of people. Those stories now go to say the credit card is the bad guy in the situation. When in actuality, life just happened to that person who wasn't able to pay their credit card debt down. It happens, but that doesn't mean that the credit card is the problem. I'm gonna tell you a story of how a credit card came in handy for me. So I talk about my mom a lot on this podcast. For those of you that are new, my mom passed away of a heart attack in October of 2018. Now, at that time, my mom had just turned 59. She was relatively healthy from all that I knew. So this was a shock. This was oh my god, heartbreaking. I can't, I can't even go into detail, but I shot right into let's get it taken care of mode. And so, from the cost of me purchasing tickets to fly out to Chicago immediately to getting all of the arrangements together for her funeral, all of the costs and expenses associated with me being there, my kids being there, getting everything together, I probably spent about $10,000 to $13,000 total, right? So at that time, I wasn't in a position where I had built up enough savings where I was going to be able to take savings out and use that for that expense. Now, my mom had life insurance, but what I learned from the funeral home while I was at home, if you pay for the funeral outside of them having to put a lien on it, right? So if they have to put a lien on the life insurance to receive some of the monies, because that is absolutely an option. I could have put a lien on the life insurance, it would have cost me more. I think there was an extra added maybe $500 to $750 more in addition that you would have to pay. I thought, I think that's how much it was, but you would have had to pay that in addition to whatever the cost was just to put the lien against the life insurance to pay them once they were paying it out. So I decided, no, I don't want to do that. I used my credit card. I used my credit card to pay for the funeral and just said I would reimburse myself after with the life insurance once it was able to be distributed out. And so that was a time where I was excited that A, I had a credit line that was large enough for me to be able to make that purchase, make the purchases as a whole, and still have availability left over. Like I wasn't to the limit. And I was learning at that time how leveraging my credit and then being able to pay it back, how that would just continue to just to just boost me up. Because I showed now this lender, hey, Gina used this credit card for this amount of money, and Gina paid it back. That makes them trust me more when they see something like that, regardless of where the money was coming from. They still got a chance to see, all right, money was used, money was paid back. And I'm talking about the company itself. I believe that one's an American Express that I use. And so American Express was able to see this money can be used, it can be paid back. So that's helping me with American Express, with them continuing to give me and offer me credit. So that was a time that I was happy that I had a credit card and that I was able to use it and leverage in it to purchase things and expenses that I needed in such a vulnerable time for me. And so, to wrap up this point, when people say you don't need a credit card, maybe that's so for some people. That wasn't the case for me. That's not the case, that's not something that I put out there to my clients and to people because I truly do believe credit cards serve a good purpose in helping you in those times of need. And I do believe leveraging the credit that you have on credit cards can help you with gaining benefits. So when I say gaining benefits, my Southwest card gives me points so that I can book flights. My Hilton's American Express gives me points so that I can book hotel stays. There's lots of different credit cards that have different benefits, so you're using them to the benefit of you gaining something free or getting monies off. Even your store credit cards even have those same benefits, so you can use it in that way. And I just believe that it has multiple good uses. So to just say flat out you don't need a credit card, that that just don't work for me. And that's not something that I believe is true. Okay. All right. And so y'all probably like, how many more of these we got? Three. We got three more. All right. The next saying that I had to unlearn was you have to spend on your credit cards to build credit. And so I'm glad I'm doing this one right after talking about the saying you don't need a credit card. And so what I want everybody to understand is how your credit card works on your credit report. And so me being an underwriter feels like one of the best things or best jobs that I could have had to help me with explaining credit and explaining how credit works. And when I say an underwriter, meaning you go out and you get a loan, and there is a person that's gonna say yes, no, or maybe to said loan request. And I did that for a number of years. And so on someone's credit report, I can't see that you only spent on this credit card because you wanted to show me that you know how to use credit. I truly do believe to break that down best, you're showing the company that has the credit card that you can use credit. Your credit report and your credit score don't actually care about if you use the credit card or not. Only to the extent of have you had this credit card for a year or two years and you haven't used it and now it's dormant. Now that company is going to close the card because you're not using it. They're not accounting for, oh, I'm just gonna use it just this one time. You're using it one time to keep it, keep it active, but you're not necessarily having to use that credit card to quote unquote build your credit to the credit bureaus. Okay, you are building credit that you are showing said company, I can spend this amount of money and I can pay it off because your credit report is only gonna show is it paid, is it not paid? If it's not paid, how long did it go being not paid? Because when you have a zero balance on your credit card, that means it is showing as paid as agreed on your on your credit report. That's it. It's just showing zero balance on credit card shows as paid as agreed on your credit report. It's not showing, all right, it spent it one time just to show you this, that, and the other. No, when you're building credit history, right? Building credit history, let's say I want to say I'm gonna use this separate because I don't want to confuse the two. When you're building credit history with the credit card issuer, so let's say if it was an American Express, I have a $10,000 credit card, which is what's happened. I've had I had that $10,000 credit card, I used it responsibly, used it, spent it, used it, spent it. They increase my limit because they saw that I knew how to use it, spend it, use it, spend it. To the credit bureaus, they are only gonna see if I keep a balance, if I don't keep a balance, if it's paid as agreed, if it's not paid. So going back to the saying itself, you have to spend on your credit cards to build credit. You get the credit card. Once you have the credit card, it's gonna show paid as agreed if there's no balance, if there's if there's nothing being spent on it. You don't necessarily have to use that said card for the credit bureaus for them to say, oh, you're not building credit unless you're using money on there. But to the credit card issuer themselves, that's maybe a piece of history that they like to see so that they can see about increasing your actual credit limit. All right. So hopefully that's not too confusing because that's one that does become a little confusing because building your credit history with the card issuer is gonna be different from building credit history on your actual credit report. Credit history is built by on an account basis. I have a credit card account, I have a loan account, I've had it for this long. That's building credit up. That's what that looks like. And so hopefully that's not too confusing. If y'all got any questions, y'all go ahead and let me know. I would love to explain it a little bit more, okay? And so moving on to the next saying that I had to unlearn is marrying someone with bad credit will give you bad credit too. All right, so let's let's let's pick this little saying apart, right? I'm pretty sure that y'all have heard people say, I'm not marrying nobody with bad credit because I don't want bad credit. Or if I marry someone with bad credit, I'm gonna, I'm gonna get bad credit too. And you would think it was like cooties or something, like it just jumped from their credit report on over to the next credit report or something, child. And I used to crack up about this because I would just tell people, like, look, they just don't want to marry you, okay? Is you. All right. But um the truth of the matter is our credit is calculated from the loan accounts that we open up under our social security number. So when you and your partner, you get married, y'all still have two separate social security numbers. They do not link together. Now, what does end up happening in some marriages where you'll have someone who has good credit history, good credit habits, and then they combine with someone who has bad credit history and bad credit habits. And so if those same two people, they apply to get a loan together, right? Because that's what happens when two people get married. Sometimes they start going on loans with each other, whether that be a mortgage loan, a car loan, a personal loan, whatever that loan may be. So let's just say for this sake, we are talking about a credit card. Two people, one with good credit habits, the other with bad credit habits, they get a credit card. They have to apply. They're approved. Now, if this couple decides, all right, the person with bad credit habits is the one that's gonna manage the bills being paid, okay? And so if that's the case, someone who has bad credit habits and doesn't pay their bills on time, what on their own, what do you think that they're gonna do in the marriage? They're not gonna pay the, they're not gonna pay the bill. Or it's not gonna be on time. And so the thing that people miscalculate is when that bill isn't paid on time, your score, I've seen scores go down up to 80 points with having a 30-day late. So it's not that you can't marry someone who has bad credit and or bad credit habits. Are they gonna manage the bills? Are they are they gonna be managing bills for you per se, your bills that you may have set up on your own or any bills that y'all set up together? Are y'all going to come to some type of agreement? All right, we gotta make sure we're paying bills on time, make sure we're not holding balances on credit cards, make sure we're not just applying for credit all over the place. Like there has to be conversations that are had because if you have bad credit habits, meaning you don't pay your bills on time or you pay them slow or you keep large balances on your credit cards, you're applying for stuff everywhere and it's mama, then of course that's gonna lead to a decreased credit score. It's gonna, it's gonna lead up to bad credit. I don't like to say bad credit because it could be, I don't like to say bad credit. I like to say all credit could be fixed. Let's say it like that. All credit can be brought back to life. Let's say it like that. But the thing is, the point of what I'm trying to say is the saying when you marry someone with bad credit, it's gonna give you bad credit. That's not necessarily true because their credit history is not your credit history, and it doesn't have to be that way. Y'all have to figure out how y'all are gonna mix and mingle. And if you do start applying for loans together, what is that gonna look like? All right, it takes accountability from both people to make sure that that credit history either stays in a good spot and them trying to do the best to maintain or do whatever they need to do to make sure that they're not in the quote unquote bad credit zone. All right. So it's not true to say when you marry someone with bad credit, it will give you bad credit too. All right. Hopefully that helps some of y'all go ahead and get y'all engagements off and get get go ahead and get married, okay? I get that couple from couples all the time. All right, that I get that question from couples, child. I'm talking too fast. All right, so moving on to the last sand, y'all. Oh my god. This has been an episode, right? A long episode. We've been talking, but it's some good gems being being dropped, all right? So make sure the shares is in is in order, okay? All right, so this last one is not really a sand, but it's just something that I feel like you hear within your family or your friendships, right? Where people would think that you're supposed to loan money out to your family and friends, even if you don't have it, because they'll say, you got it, right? And you got it is subjective, right? Like I could have it, everybody got it before all the bills are due, okay? Look, we all get it until some bills are due or until an emergency pops up. I did an episode series on boundaries. Y'all should go back to it, I believe. Episode 85. Go back to that one. That's my year of birth. So that episode was bomb. Okay. Episode 85, I talked a lot about boundaries. And when it comes to having boundaries with your money amongst your friends and your family, you having it, quote unquote, doesn't mean that you necessarily have it to borrow, I'm sorry, have it to loan out to someone. So I truly do believe that a lot of people of color and black people, because that's the community that I grew up with, we get into that rhythm of it's like, I gotta give it to them because that's that's such and such, or it's my mama, it's my daddy, it's my my sister, my brother, my friend, my this, my that. The one thing that I can say about money and finances, a lot of people, they do a lot because they think that it would be the good thing to do, but it doesn't necessarily feel good inside of them because it doesn't help them at the it doesn't help them in the end. Because when you're giving out monies, and depending on how much money it is that you're giving out, you can be putting yourself out. And that's something that you don't want to do. You got to make sure everything is calculated to a T. Am I good now, next week, the month, the next month, six months down the line, if I give you this money. Because what it ends up doing, and a lot of people end up just going through this situation anyway, you loan money out to say your family or your friends, and they don't give you the money back, and all it does is build resentment now. So it's like, you should have just had the boundaries and just said, took, took that no at the time when you should have given it, you know, or you could do what Oprah does. Oprah, and Oprah has Oprah money, but Oprah talked about this, so I'm pretty sure it had to affect her in some type of way. Oprah says she doesn't give, she doesn't loan money out. If she has it, she'll give it to you. If she don't, she won't. That's it. Now, if Oprah can say something like that, knowing that Oprah got Oprah money, I know Oprah didn't went through some things and she didn't have some boundaries that she had to create. So always exert some type of boundaries when it comes to your money. And don't let nobody tell you, you got it, you could do this, you got this, that, and the other. And that's the thing. When you looking at people who got this, that, and the other, they got the big house, they got the cars, they got this, they got that, they paying for that stuff. That stuff costs money. You don't know what they got. They could have it just to pay for the things that they need to pay for. Okay, so never judge somebody's situation talking about they got it, or if you are in a position where you feel just because this is my family member and a close family member at that, I have to give it to them even if I don't have it, because all you're doing is putting yourself out. And if that's the person that's coming to you for help, who you got to go to for help, right? You gotta think about that. And I don't think a lot of people do, but go back and listen to episode 85 where I talked about boundaries and child. This is the longest episode I have ever done by myself. Shut up, okay? We had a good time today, okay? That's what happened when you be gone and then you come back and you got all this ammo to talk, right? You know, child, I ain't I ain't talked in a while. But this was a wonderful episode, if I must say so myself. Make sure you share, share, share. And if you are having some issues with your credit right now, child, y'all know I'm in business over here. I have a whole package where I can help you with fixing your credit. And I I don't like that saying, but for the most part, I can't change the true meaning of what it is, which is fixing your credit. And when I say fix, meaning that you need to build, rebuild, or you need to increase your credit score. I got you. Make sure you check out my website, www.immindfully rich.com. Wherever you're listening at, it should be a link for you to go to my link tree where you can see the package itself. You can set up a consultation with me so I can, you know, we can both determine if the service will be something that can assist you. Because, child, at the end of the day, if it ain't nothing that can assist you, we're gonna go ahead and we're gonna part ways. All right. So I do have a free discovery call as I'm calling it, so that way we can determine, you know, if the service will be for you. So I do have something that can assist you. So you're not just out here just like, oh my God, what do I do? You call me, okay. All right, y'all. I've been talking a lot, gave a lot of good information. Y'all make sure y'all continue to listen. If you didn't listen to last week's episode, make sure that you check that out where I talked about money sayings that I had to unlearn. This week talked about credit. Make sure that you share this, share with at least two people, okay? If we could all share with two people, we can get this thing out there. I need y'all to be my marketing, okay? And so I want y'all to live life mindfully, intentionally, and on purpose, darlings. And until next time, when I hit y'all with another one.