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Episode #6

What is The Fundable Life?

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Hey! I'm Jeri!

I'm a financial educator and speaker known for simplifying complex credit and funding strategies. I've helped thousands of individuals and small business owners get the credit they deserve.

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Summary

89% of our community said knowledge is the #1 thing standing between them and the life they want. This episode closes the gap — starting with the 7 outcomes of a Fundable Life.

In this episode:

The $300 in groceries I got for free at checkout
The trip to Hawaii I took with my mom for $0 out of pocket
The $63,000 most homebuyers lose without ever knowing it
The $50,000 in business credit your LLC could be building right now
The land your great-grandchildren could inherit because of a decision you make this year

Resources mentioned:
→ Read the full guide: 7 Things a Good Credit Score Unlocks That Nobody Talks About

→ Take the Fundable Quiz: smartcreditcoach.com/quiz
→ Get matched with a certified consultant: smartcreditcoach.com/help

If this episode landed for you — share it with one person who needs to hear it. That's how we close the 89% gap.

Transcript

[00:00:01] There's a number in this episode that I want you to remember. It's 89%.

[00:00:06] That's the percentage of people in our community who said the same thing. When we asked them what was standing between them and the fundable financial life that they actually wanted. And the numbers and the answers really surprised me because it wasn't money.

[00:00:22] It wasn't even discipline or getting a better job or a raise.

[00:00:26] It was knowledge.

[00:00:27] 89% of people that we surveyed said that I don't know what I don't know. And I'm tired of pretending that I do. So if that's you, I want you to listen in today because this episode is for you.

[00:00:41] Welcome to the Smart Credit Experience, the place where financial clarity, strategy and transformation begin. I'm your host, Geri Toliver, CEO of Smart Credit Solutions and the creator of the Smart Credit method.

[00:00:53] Every week I break down the truth about credit funding and building a financially abundant life and business. So if you're ready to learn what lenders actually look for, how to build a fundable business, and how to move forward with confidence and clarity, you're in the right place.

[00:01:11] Now, in today's episode, we're going to be talking about quite a few things that's going to lead you on a better financial path. One, we are going to talk about that 89% statistic. We're going to talk more about where it really came from and what it means. We're also going to discuss the problem that most people think, and it's that they think that good credit equals better interest rates or better terms. And although those are some of the benefits, that framing is really just very limiting and it's kind of boring. So I wanted today to help you move yourself into action by understanding what you're going to get on the other side of having good credit. Because having a credit, it's not just about interest rates. It's more about having access.

[00:01:59] Remember that? Access.

[00:02:01] Access to opportunities, access to cash back, access to free travel, access to investment opportunities, access to business capital and funding, access to wealth, Never having to worry about your money again. And so that is what the fundable life is all about. The fundable life is what your credit score is unlocking or blocking, quite frankly. And so you don't get a chance to really opt out of the credit system because it's such a huge part of how we live and survive in America. And so you're either on the access side side or you're not.

[00:02:42] You're getting blocked from it. And until today A lot of y' all probably didn't even really know the doors that you're unable to open because of not having good credit. Most people think I just can't get a credit card or a loan. But that's just the tip of the surface. There's so many more benefits that you are missing out on by not having good credit. And so I'm going to show y' all and walk you through the seven outcomes of having a fundable life. So I want you to stick with me today because I'm going to give you some real specific numbers, some real ideas for you to really think about and ponder on, because this is the first step for you to start taking your life and your fundable life seriously into the next level. So the first outcome that you're missing out on is cash back in rewards.

[00:03:30] Now, this might seem a little boring for some people, but honestly, this was one of the my first introductions to cash back in a meaningful way. As a mom of two, buying groceries for myself and for a family by myself was a little, you know, daunting on my finances. And so I had to figure out different avenues for getting a discount on my groceries and all my everyday spending. And I'm so glad that I ran across this benefit with credit cards, because credit cards y' all get give you instant discounts on groceries. Let me tell you about a story about I had went to the grocery store and I'm shopping, I'm putting things in my cart, and then I pay for it at checkout. And then while I'm paying my credit card, I noticed that I had some cash back that I could redeem for purchases that I had already made on my credit card. Y', all, did you know that I had over $600 worth of cash back?

[00:04:31] And so I took about $300 worth of that cash back and I redeemed it for a statement credit, and I technically got groceries for free.

[00:04:42] Now, granted, I had to pay for the groceries first, but then I redeemed my cash back to basically get that money back. And so, as you can see, there's so many different ways for you to use this, but there are credit cards out here that'll give you 1.5% cash back, 2%. Some of them even give you 6% cash back. But let me tell you, this isn't going to unlock at lower credit score tiers. You're going to be looking at getting yourself to at least a 680 in order to take advantage of credit cards that give you this perk. So if you're looking for instant discounts on groceries, because grocery expenses are definitely raising, they're getting high. And we're always looking for a way to save some money in a meaningful way. And so cash back and rewards, y', all, are some of the best perks that you can get from having good credit. And so get your scores higher so that you can qualify and get approved for those type of credit cards so you can dump your debit card.

[00:05:41] So many of us are using debit cards because we feel like it's safe, it's the safest option, but it's not. And we'll get into that topic in a whole different podcast.

[00:05:51] But it's time to dump your debit card and make the switch to credit card so you can take advantage of this one. One fundable life perk. The second outcome, a travel and family time, y'. All. Did you know that you can take your family on a vacation to Mexico, to Hawaii, Dubai, for free?

[00:06:13] Let me tell you, the first time that I realized that there was a perk, it was by accident. My mom, she had booked a trip to Hawaii, and she was going to go with my youngest sister. It was more of a graduation gift to her when she graduated out of eighth grade.

[00:06:29] Well, no, I'm sorry, high school. Well, unfortunately, she decided that she didn't want to go on the trip. So she called me and asked me, did I want to go? And I said, say less. I'm in there. Okay. But the problem was I didn't really have the money to go. I just didn't want to let my mom go on this trip by herself. That was just out of the question for me. And I was going to figure out a way to make it happen.

[00:06:51] And so I was in my credit card account.

[00:06:55] I was about to book my flight in my Capital One account.

[00:06:58] And then when I looked at my account, I noticed that I had points, and I didn't really understand the point system. But as I was checking out, booking my flight, I noticed that I could use my points to pay for my flight. And I did. I redeemed those points and I paid $0 for the flight. It was a little over $650 and some change, but I paid $0 out of cost, out of pocket. And it was the best $600 that I'd ever saved because I was able to take that same money that I saved and I was able to have more time and spend more time with my mom. We got to take a helicopter trip to the island of hilo we went to Kauai.

[00:07:45] We went to some really incredible places. We had went on a seven day cruise. It was awesome. And, and it was amazing being able to take this helicopter ride with my mom.

[00:07:54] And it was breathtaking, beautiful, something out of a movie, I swear. And it was one of the most wonderful experiences I've ever had with my mom.

[00:08:06] At the end of that trip, I cried real tears because I couldn't believe that I was able to have this type of experience just because I had good credit.

[00:08:17] And so I used points sign up bonuses like that really opened up a new world for me and it made me realize that these type of opportunities aren't available for just the rich people. These opportunities are available for anybody that knows that they're there, that they're available.

[00:08:36] So, you know, if you're looking to take a vacation, spend more time with family, go sell on the beach and sip a margarita without worrying about going broke, then travel points and rewards on your credit cards are amazing way to do that. Now let me, let me tell you, these credit cards aren't really something that you're going to get just by having, you know, low credit scores. You're going to have 680, 700 and above for these type of credit cards. But they are worth it. Let's talk about the third outcome that you're missing out on. Your dream home.

[00:09:05] You know, buying your first house or your second one. You know, there is a wonderful feeling that you get through ownership. And I don't care what anybody says, there's a lot of people online that tell you never to buy a home. But one of the first principles of wealth that I learned in a book called the Richest man in Babylon was that the first step to wealth is owning your own dwelling.

[00:09:29] And I realized that if I wanted to be, you know, take that first step to wealth, I needed to buy my own home. Why? Because real estate appreciates. Normally it, it grows in value over time. And then on top of that, when you buy it, you pay it off. And then you have an asset that you can either later borrow against, you can pass down to your family and you can feel good about that decision. Now most people, they probably might, you know, fight you tooth and nail not to buy a house because they just don't understand what they're getting themselves into.

[00:10:02] But buying a house is a major investment, huge investment. So you don't want to just go about it blindly. When I bought my first house, I had realized after the fact that I had gone into it a little blindly. I Wasn't as educated as I probably should have been. And the professionals that I was working with was. It wasn't very helpful. In fact, my real estate agent at the time didn't really even help me find my house. And then on top of that, he didn't come to the closing. He was just there to collect a check. So I realized after the fact that I should have taken a little more time to do research, understand interest rates and just how that whole process works. But overall, learning about the process, what helped me understand what I needed to do next time. So I didn't make any mistakes. And the biggest mistake that I say that I made was not understanding how interest rates worked on mortgages.

[00:11:01] See, when your scores are higher, you get better interest rates. When you get better interest rates, especially on a mortgage, you save so much more money.

[00:11:10] Take a $300,000 mortgage for an, for an example. Let's say you go buy a house for $300,000, but you go in there with a 620 credit score.

[00:11:21] Now, the difference between somebody with a 620 credit score and somebody with a 700 credit score is about 1.5%.

[00:11:31] It's really what you're looking at. And that adds up, y', all, especially over a 30 year mortgage.

[00:11:38] A lower interest rate, if you have a higher credit score on a $300,000 mortgage, could easily save you $63,000 around. Around that much. And so when you think about the fact that you could save $63,000 in just interest payments alone, could you think about the things you could do with that? That's a college, college tuition, right? That's paying off a car three times over a decade, three decades, actually. That's the difference between being able to retire early and working for the rest of your life. And so we can't take these decisions lightly. We have to do and run the numbers. Understand what, what are we doing here?

[00:12:21] What are we doing here? And so if you can put yourself in a position to save $63,000, do it, please do it so that you can still get your dream home and not feel so strapped doing it.

[00:12:34] Right? So next, business funding.

[00:12:38] Now, this is one of the most important lessons that I learned about credit was building business credit, understanding how to gain funding, and getting capital to grow my business.

[00:12:50] So many business owners wait. They wait until they need the credit to go get it. Don't do that. That's the worst time to go looking for funding for your business is when you need it. You want to have it on deck before you need it so that you can deploy it at will. You ain't got to wait to see if you can get approved for funding before you can invest into a marketing campaign. Hire yourself some help, you know, pay yourself a reasonable salary.

[00:13:15] Did you know that you can get at least $50,000 in business credit in your first year?

[00:13:19] This is not fluff, y'. All. This is real stuff. Your LLC can build business credit with or without you having good personal credit. This is a path, a real path towards building a business that can give you the freedom that you deserve.

[00:13:37] Because you can't keep bootstrapping your business. You can't keep using your personal finances. You can't keep using your personal credit cards, draining Savings, tapping your 401ks. I've been there, I've done that.

[00:13:49] And I racked up over $30,000 of credit card debt trying to build my business the first two years because I was maxing out my personal finances in the name of growing my business when my personal finances weren't built for that to begin with.

[00:14:02] Your business, business credit. Business funding is designed to grow a business.

[00:14:10] So you're missing out on business funding and credit and credibility opportunities because you haven't tapped in and committed to learning everything that you need to know about living a fundable life.

[00:14:25] The fifth thing that you're missing out on is building a legacy.

[00:14:29] Building wealth and a legacy.

[00:14:31] Buying land with business credit, not having to use a personal guarantee.

[00:14:37] Being able to pass something down to your grandchildren, your great grandchildren. Can you imagine your great grandchildren being able to benefit from a decision that you made this year today?

[00:14:50] Phenomenal.

[00:14:53] So many people that I talk to tell me that they want to build wealth. It's one of their biggest goals, biggest aspirations. I want to build wealth.

[00:15:01] But the fastest way and the most effective way to build wealth is to invest your money, put your money to work for you. That's the only way to do this. And you don't have to just put your money to work. You can put other people's money to work for you to make the investments, grow your wealth, your net worth, and feel good about something that you're leaving to your family.

[00:15:24] The sixth thing that you're missing out on is being able to escape and break away from the paycheck to paycheck cycle.

[00:15:34] Think about it this way.

[00:15:35] If your credit is good, really good, and you're able to save money in interest payments, you're able to save money on groceries and everyday purchases, you're able to save money on, on business opportunities, your next mortgage or your first mortgage, you're freeing up hundreds, if not thousands of dollars a year.

[00:15:59] Putting, being able to put $1,000, $4,000 even a year into your savings or into investment vehicles is going to help you break away from that paycheck to paycheck cycle. Because let me tell you, saving isn't.

[00:16:15] Saving isn't what's going to get you there.

[00:16:18] Saving your money is not that lever that you pull to get you to the financial freedom. And being able to not have to worry about your money again is not going to be able to get you from checking your bank account every day, hoping, praying that it's not in the negative.

[00:16:35] So raising your credit scores is going to free you from all of that stress. It's going to free you from worrying about are you going to be able to pay your bills on time this, this month. It's going to free you from the frustrations of debt collectors and credit card companies calling you because you can't deliver on your promises on time.

[00:16:53] It's not. It's going to deliver you from being, not being able to tell people I got it.

[00:17:00] Don't you get tired of telling people you ain't got it?

[00:17:03] So if you want to have it, you want to finally have a savings, you want to have a nest egg, improve your credit, start maximizing your opportunities.

[00:17:15] Because it's not about saving, it's about getting knowledge.

[00:17:18] So many people feel ashamed, feeling like they should be further along by now, feeling like they haven't reached their financial goals. I have people that are in their 40s, 50s, 60s, that have never seen what life looks like with good credit. They've never felt the feeling of being able to walk in a bank telling them, hey, it's my money and I need it now.

[00:17:42] They don't know what it feels like to be able to apply for the credit card and be confident that you're going to get approved. They don't know what it feels like, feels like to have banks competing with each other to lend them money, banks throwing money at them left and right.

[00:17:58] I talked to a older man the other day, told me that he doesn't want to die without seeing 700 credit scores.

[00:18:08] So if you want to break the cycle, it starts with you.

[00:18:13] Don't be ashamed.

[00:18:15] It's never too late to change your circumstances.

[00:18:17] It's never too late to start learning and building and growing.

[00:18:21] Never. I've seen people change their circumstances in six months, a year. What they thought was not possible became possible for them because they got the knowledge, the steps and the support to help them with getting it done. You can break free from it.

[00:18:37] All you gotta do is get the knowledge.

[00:18:40] And then lastly, what you're missing out on is a new life and identity.

[00:18:47] Let me tell you, when I learned what it really took to improve my finances, to raise my scores, gained a new identity for myself, somebody that could get it done.

[00:18:59] I started identifying with somebody that had it together.

[00:19:03] I started identifying with someone that finally had my finances on track.

[00:19:10] Because the problem is nobody teaches us this stuff. Nobody teaches us how to raise your credit scores, how to budget properly, how to automate your finances, how to get business credit the right way. So many of us learn things the hard way, through making mistakes, accidents.

[00:19:27] But when you know, when you finally know, you make the shift from confused to confident, from reactive to proactive and strategic.

[00:19:39] That's the difference. So many people are not getting results because they're reactive. They're waiting on something to happen. They're waiting on God to give them a sign. They're sleeping on it. They're thinking about it.

[00:19:52] Meanwhile, nothing's changing for them.

[00:19:55] So if you want something to change, stop waiting, stop procrastinating, stop hoping things will change for you. Because hope is. Is not a strategy.

[00:20:06] It's not a strategy.

[00:20:08] So how do you fill the gap?

[00:20:11] How. How do the 89% of people, how do they fill the gap?

[00:20:17] Well, the problem is this.

[00:20:19] You've never been given the education, and that's not your fault. It's not your fault at all. But here's what is your fault is that you haven't got into the knowing so that you can make a clear choice.

[00:20:33] So from this moment on, not knowing is a choice.

[00:20:37] From this moment on, not knowing is a decision that you are consciously making because you are here listening to this podcast and I'm telling you straight up that you could change your life. And we have the programs, the support and the professionals to help you with doing it.

[00:20:55] But the change starts with. With you.

[00:20:59] Nobody can do it for you.

[00:21:01] You're called to have high credit scores. You're called to not have to worry about money anymore. You're called to have a life of freedom. You're called to be able to. To pass something down for generations. You're called to that. It's why you think about it all the time. It's why you dream about it. You're called to it. But now it's time for you to bridge the gap.

[00:21:22] And so here's what I want you to do right now. Don't wait, Pull your credit reports, pull it right now. Go to annualcreditreport.com right now. Pull your credit reports.

[00:21:34] And then I want you to take our Fundable Life quiz.

[00:21:38] You can head over to smartcreditcoach.com quiz so that you can find out where you are in this process, where you are on the seven pillars of a fundable life. And once you learn what that is, hit me up, email me at contactmartcreditcoach.com let me know, where are you? Where you stuck?

[00:22:00] What pillar have you landed on?

[00:22:02] Because that's the starting point.

[00:22:05] And so I want to tell you one more thing before you wrap up.

[00:22:08] The reason why I started this show, the reason why Smart Credit Coach even exists is because I've watched too many people that I love stay stuck because they didn't understand a three digit number.

[00:22:23] Smart people, people that have went to college, people that are hardworking and they deserve more than what a 580 or 600 credit score was letting them have.

[00:22:33] So this year, this month, today, this week, that's what's going to change.

[00:22:39] We're going to work on this hour by hour, day by day, week by week, outcome by outcome, person by person.

[00:22:46] And so if you're here, you're already in it.

[00:22:49] And I want to welcome you to the Fundable Life. And so again, my name is Jerry, CEO here at Smart Credit Coach. Thank you for joining me for our Smart Credit experience.

[00:22:58] I will see you next week. Take care.