Credibility & Credit Goes Hand in Hand… : ThyBlackMan.com

Tuesday, September 19, 2017


Credibility & Credit Goes Hand in Hand…

October 29, 2014 by  
Filed under Money, News, Opinion, Weekly Columns

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(ThyBlackMan.com) …starting within ourselves, that is. Yes, we have been provided the tools to guide us, but we must find the determination within ourselves to utilize what we already know. We are all aware of how credit and credibility determines a job position, loans, homes, and all elements applicable to money. But have we stopped to think about how being credible to ourselves first just might influence our responsible ways with credit endeavors in the future? Quite often, there are new approaches implemented warranting insight of our credit and credibility. The two go hand in hand and used in many instances.

So first let’s discuss credibility, and how it can affect us as a person manipulating a domino effect of disastrous financial decision making. Second, we can discuss credit, and how it paves the way for a financially sound and secure future. But let me say this – before I forget my train of thought-, without the two elements driving our financial path, life as we know it can be very bleak. The financial world is changing, and as a black culture we need to adapt to those changes…and fast.

But First, Let’s Factor in A Plausible Disadvantage…

As a black culture, statistically we average a credit score of 603, in comparison to other cultures combined average of 782. The numbers should determine that we must start acting on our credibility and credit endeavors. A disadvantage we experienced, during the housing recession, had shown racial pursuits for the black race; causing many, even black wealthy families, credit and credibility to plunge. I believe since that occurrence people have not been so fortunate to piece finances back together. However, I want to make things clear. I have worked in the real estate market, and I have firsthand seen how people will try to live out of their means. It occurs among the more wealthy households on down to the less fortunate households, so there is no discrimination there. But the point of the matter is we as a culture must do better, we contribute to our financial woes.

When taking on a debt and especially a significant amount, we must calculate for present and future monies. So when the recession happened, although fraudulent activity took place, we should had been more financially stable in our own “pockets” where when issues presented itselfcredibility-2014 we were able to counter the problem until the fraudulent activity worked itself out in the court system. This practice would have saved our credibility and credit. The recession incident, although unfair, was just one more thing added to the “list of objections” for our people, which they will use to determine our reliability for financial decisions. We cannot keep letting life obstacles hinder us. We need to get prepared and remain prepared for the unforeseen “craziness.” Does that make sense?

Now, We Can Further Discuss Credibility & Credit Practices….

Credibility is the quality of being trustworthy and authentic. When we can trust ourselves enough to know responsible boundaries, and adhere to those boundaries, only then can we label ourselves credible – in a financial sense. Knowing boundaries when it comes to spending, taking on debt, and liabilities of day to day expenses will help us make monetarily conscious, yet noble decisions. See, if we do not have an authentic self, we cannot expect others to take any of our financial inquiries seriously. Being credible to oneself first, will facilitate our plausible fiscal stance; satisfying our wants and needs and ultimately interpret our future.

For example, knowing we have only enough money in the account to pay our upcoming bills means that all leisure activity such as wants and needs will have to be pushed to the side. This is where reasonable credibility is tested. When we are aware that our debt comes first and wants last, we are on the right track.

For credibility purposes, one should always live within their means. Meaning trying to live up to society’s expectations of a lavish lifestyle is only going to hinder our chances at credibility; especially if we are unaware of how to manage money, life and obstacles. As they say, “Stay in your lane”; and be proud of that lane. At least we can have the audacity to say “that will never be me”, when other people’s money problems and credibility hit the roof. Being able to witness other people’s problems and learn from them are also credible tactics to utilize on our part. There is nothing worse than having full knowledge of how a problem has caused issues for one person, yet we will turn around and repeat the foolery.

This self-destruction can be eliminated from our life if we just find credibility within ourselves and remain in our financial lane. Once we are making sound decisions on important financial affairs that prove positive, our efforts at self-credibility have been mastered. Only then will our financial management be trusted where financial credibility is required among establishments. Doors begin to open one by one, all because we made a conscious decision to believe in our own authenticity with setting financial boundaries.

Credit worthiness knows no bounds; therefore, it is up to us to enforce them. Credit is the ability to obtain services based on a financial credibility and it has the ability to project a person’s trustworthy history. We cannot expect to purchase a home on the notion that the lending company may find us “likable.” They will never consider us worthy of discussing further options on a car if they find our credibility and credit full of shame. The absence of reliability, companies or lenders will never advance us credit, or employment for that matter; not without high risk penalties to pay. So desiring the finer things life has to offer does not come without financial practice, trials and tribulations, and effort; which are pertinent factors to learning the proper ways to managing credibility and credit.

After securing a credible past, only then will be able to reap the benefits (with caution). The feeling of applying for a job that we really desire is refreshing on so many levels. The idea of knowing most employers check our credit for credibility purposes will actually be the least of our worries, as the interview will rank our highest worry. Being able to pick out the car of our dreams is breathtaking; without having to sweat bullets waiting on a reply from a bank or seeing the outrageous annual percentage rates they slide across the table. How about being in the realm to live and vacation comfortably; or own a business without having to involve flaky investors? All great benefits to life, don’t you think?

FYI: I have to throw this out there for some folk – make sure you are employed and within reasonable means before splurging on your credibility and credit. We sometimes forget to factor in annual income, budgeting and expenses before making rash monetary decisions. Everything has to be managed thoroughly.

So with everything considered, it is imperative to get on track with making sure we have the tools within ourselves to begin paving the path for financial matters in the future. Protecting our credibility is essential to a universal credit ability moving forward.

Important: This article is concise, but to the point. Be proactive in further research, as there are other factors to consider when managing credibility and credit. So please, if you are not savvy in financial management consult a credible financial consultant, where you can obtain in-depth details to a sound financial future.

Staff Writer; Tameshia Holleman

This talented sister can also be found over at; ButterFly Writes 4TheState.


Comments

2 Responses to “Credibility & Credit Goes Hand in Hand…”
  1. Tameshia says:

    Hi Hoodgirl,

    Thank you for commenting. And I must say, your response is very true. We live in a society were everything financial is “Credit.” We seem to have forgotten the ways of, “if I cannot pay for it out-right, I should not be getting it.”

    I was not brought up understanding credit, but after trials and hard lessons to be learned, I quickly found the the key to success…credibility within myself, in a financial sense, in order to maintain an established credit ability. Credit is based on everything nowadays,and my purpose for the article is to bring to attention our position in this credit world, and find changes within ourselves.

  2. hoodgirl says:

    Great Article. The first step towards financial credibility is to create a “zero based budget” to live by before that month begins which brings focus to help accomplish financial goals on a monthly basis such as eliminating debt, adequate savings, investing towards retirement, purchasing a home, etc.

    As a Financial Advisor, I find that the single most difficult task in the pursuit of financial peace is getting people to write down what they own and owe to create a plan “zero based budget” to help them achieve financial security. My theory as to why people are so reluctant to do this simple step is because CREDIT is the American way and we are so conditioned to the fact that if you want it you can get it NOW because as long as you live you will always owe someone so why not get what you want on credit and repay what you owe based on what you can afford to pay monthly.

    In my opinion, this way of thinking does not allow people to assess the value of assets against the financial cost of owning these assets through debt “CREDIT” which ultimately prevents people from building and protecting Wealth.

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