Family Financial Cents: Building Credit and Why You Want To

Here are a few resources mentioned on the Family Financial Cents segment on Sacramento and Company! Take a look at the article on restoring credit as well.

How does your credit report and score affect you and why is it important to build credit?

  • People can get loans faster.
  • Credit decisions are fairer.
  • Credit “mistakes” count for less.
  • More credit is available.
When should you start building credit?
Just like you should find a car before you need a car or a place to live before you move out of your parents home or the place you are currently living, you should have a good credit history built, before you need to be able to access a line of credit. If you don’t already have good credit or you have a “thin credit file”, TODAY would be the best day to begin building your credit.


What are some ways you can get started building credit?
First, get a job! That may sound obvious, but even with thousands of dollars in the bank, my college-age son was denied credit because he couldn’t not prove consistent income for the last six months. Next, consider finding someone to co-sign on a small loan or credit card with you. My husband, Jerry, bought my engagement ring that way over 23 years ago. His sweet Aunt Carla was willing to be his co-signer. Not only did she help him get a beautiful ring for me, she helped him build his credit too! You may also consider a secured loan. If you have an asset that is completely paid off such as a car, try going to a bank or credit union and give them the ownership paperwork to the asset and they may grant you a loan that way. Jerry and I did this with our second car when we were newly married. We gave the bank our car title and took out a loan to help purchase Mary Kay products to start my Mary Kay business. This helped both of us build our credit and provided me with items to immediately deliver to my clients as I grew my business.  There are lots of other ways!! Think outside the box on options that might be available to you with a little creative thinking!


How can you find out what is listed on your credit report and how often should you check your credit report?
 You can get a FREE copy of your credit report one time per year from each of the three major credit reporting agencies. I would suggest getting one report from each agency every 4 months so that you can monitor what is going on for the entire year. If you are married, have your spouse check their credit on 3 months that you did not check yours so that you have reports on joint credit accounts for 6 out of the 12 months of the year.
 Remember today to take actions that matter to building your credit now so that you can enjoy more choices later. 

Family Financial Cents: I LOVE Saving!

Sarah L Cook Family Financial Cents America Saves Week

It’s been said that, “Money doesn’t buy happiness, but it does buy choices,” and choices can often create a more comfortable life. With CHOICES in mind, if I were to ask you what your heart’s desire was right now, what would you say? What choices would you truly like to be able to make if finances were not a concern? Of those choices, which ones are you willing to commit your cash to? (Scroll down for the video ;-))

For example, I have dreamed of going to Hawaii for a LONG time and yet, I never made the commitment with my dollars to actually go. I kept waiting for someone to give me “permission” to go and for my husband to say that he wanted to go for our Anniversary. This past December, my husband asked what I wanted for my Birthday and I blurted out that I wanted to go to Hawaii even if I had to go by myself. He was surprised at first and then said, “You should and you should take Clarissa”. Immediately, I got to work creating the money to go. In January I had the money for tickets, and just a few days ago I put a deposit down on the darling beach house we will be staying in. I am setting aside money from each item/book/product I sell to go towards my Hawaiian adventure and you know what? I have had an easier time saving money for this CHOICE than for anything I can think in a very long time. This trip is something I TRULY want and that I am really passionate about so it makes cutting back in other areas easier. It gives me a reason to create income by getting on the phone with clients, meeting new customers while I am out and about, and emailing my list about specials as well as new products and services.

In just a few days we will be celebrating America Saves Week (February 24 – March 1, 2014) and I encourage you to invest some time thinking about something you would be willing to save for. Really give some thought to a heart’s desire you would be willing to commit your dollars to. With America Saves Week in mind, here’s a Family Financial Cents segment I did on Sacramento and Company about some great ways for families to save and the benefits of CHOICES in the family economy:

Family Financial Cents: Dollar Wars

Sarah L Cook Dollar Wars Family Financial Cents

Have you ever been in a “Dollar War”?

So many conflicts in relationships are caused by opposing views with regards to finances. In this week’s segment of #FamilyFinancialCents, I discus ideas for preventing dollar wars and strengthening your relationships.

Be sure to hop on over to to see the book I mentioned in the video!! It’s written by my Handsome Husband! :-)

Family Financial Cents: Fun Family Traditions and Funding the Holidays

Sarah L Cook Sacramento and Company Family Financial Cents

Have you gotten your Holiday Shopping done yet? Have you looked at the bank account and wondered how you are doing to pay for everything on the LISTS of your children?

Take a look at this quick video for tips on how to create fun and frugal family traditions as well as a few ideas on how to fund all the holiday expenses!

Be sure to share your holiday fun ideas below!! :-)

5 Ways to Avoid Holidebt and the Holiday Shopping Trap


  1. Take a deep breath and realize you are not the only family that gets to choose to have a debt free Holiday Season! By making a conscious choice you will feel more in control
  2. Make a list of the “Holiday Expectations and Intentions” so every family member is clear about what they want for the “perfect” holiday season.
  3. Commit to spend ONLY what fits in your budget, no exceptions! There is no “extra check” in January! It’s a BIG FAT MYTH!!
  4. “Employ” some new strategies if you want to spend MORE than what you have in your budget. There are some great ideas in this video to get you started!
  5. Time for New Traditions! Regardless if the budget is tight or not, now is a great time to start some free and low cost traditions to teach your children how to have fun and memorable experiences. The skill of creating fun without the expense will serve them well for years to come.

You can find more ideas on Pinterest! Take a look! 

3 Ways to Help Your Kids Grow Their Finances: YES for Success! #FinanceFriday

Sarah L Cook Family Financial Cents Summer CashWe’ve learned a lot in the last several years of raising entrepreneur kids. On this #FamilyFinancialCents segment, I share three ways we can really help our kids to grow their finances as they grow their businesses. The three ways comprise a formula called, YES for Success! Take a look.

1. You Set the Boundaries
2. Encourage them
3. Step back and let them build their dreams!