The 5 C's of credit
When a lender reviews your credit history.
What is Character?
The amount of money immediately available in your bank account.
Personal and community ideals that can assist in discovering your "money culture".
What are Values?
A state of having a regulated nervous system.
What is Window of Resilience
Giving a free gift or a discount creates a sense of obligation in a person's minds to make a purchase.
What is Reciprocity?
When a lender reviews your ability to repay a loan.
What is Capacity?
The "20" in the 50-30-20 rule.
What is Savings?
Items or services purchased that fill either a necessity or desire.
What are Wants vs. Needs?
The belief that there are unlimited resources, opportunities, and possibilities for everyone in the world, fostering optimism, gratitude and generosity.
What is an Abundance Mindset?
Leading you to believe that "everyone is doing it" and that you should be doing it too.
What is Social Consensus?
When a lender considers situations or circumstances that may affect repayment of a loan.
What are Conditions?
A rating that indicates how good a credit risk you are.
What is a Credit Rating?
An intense overwhelming feeling about finances associated with automatic nervous system activation, inability to think clearly, and desire to hide or flee.
What is financial shame?
Telling you that a product will help you and improve your life.
What is Benefit?
When a lender reviews your personal investment or downpayment and alternative repayment resources.
What is Capital?
Sending a letter of dispute to a credit bureau.
What is Correcting an Error on your Credit Report?
Two basic categories of expenses.
What are Fixed and Flexible Expenses?
The man who invented public relations at the US government level (Century of the Self Documentary).
Who is Edward Bernays?
Creating a false sense of urgency by suggesting that something is a short-term offer or is in limited supply.
What is Scarcity?
When a lender reviews your personal resources and valuables to guarantee repayment of a loan.
What is Collateral?
A type of credit that allows you to borrow a specific amount of money at one time for a defined purpose.
What is Installment Credit?
The system of four steps to developing a spending plan.
What is TATS?
A six step process to heal money trauma that aligns with your values.
What is the Trauma of Money Method?
Trying to build a trustworthy reputation by claiming a product is of high quality or that others approve of it.
What is Source Credibility?