1 00:00:00,040 --> 00:00:03,600 Speaker 1: An illegal alien from Guatemala charged with raping a child 2 00:00:03,680 --> 00:00:07,480 Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador 3 00:00:07,720 --> 00:00:11,840 Speaker 1: accused of murdering a Texas man of Venezuelan charged with 4 00:00:11,920 --> 00:00:15,840 Speaker 1: filming and selling child pornography in Michigan. These are just 5 00:00:15,920 --> 00:00:19,680 Speaker 1: some of the heinous migrant criminals caught because of President 6 00:00:19,720 --> 00:00:23,320 Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States 7 00:00:23,320 --> 00:00:28,120 Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border 8 00:00:28,160 --> 00:00:31,680 Speaker 1: crossings are at the lowest levels ever recorded, and over 9 00:00:31,760 --> 00:00:34,960 Speaker 1: one hundred thousand illegal aliens have been arrested. If you 10 00:00:35,040 --> 00:00:38,920 Speaker 1: are here illegally, your next you will be fined nearly 11 00:00:39,000 --> 00:00:43,000 Speaker 1: one thousand dollars a day, imprisoned, and deported. You will 12 00:00:43,040 --> 00:00:46,680 Speaker 1: never return. But if you register using our CBP home 13 00:00:46,720 --> 00:00:50,120 Speaker 1: app and leave now, you could be allowed to return legally. 14 00:00:50,479 --> 00:00:55,240 Speaker 1: Do what's right. Leave now. Under President Trump, America's laws, 15 00:00:55,400 --> 00:00:57,840 Speaker 1: border and families will be protected. 16 00:00:57,920 --> 00:01:00,000 Speaker 2: Sponsored by the United States Department of Homeland Security. 17 00:01:00,120 --> 00:01:00,480 Speaker 3: Budgeting. 18 00:01:00,640 --> 00:01:03,160 Speaker 4: I think it's budgeting is extremely underrated when it comes 19 00:01:03,160 --> 00:01:05,760 Speaker 4: to financial planning for individuals. I always say, like, if 20 00:01:05,800 --> 00:01:09,480 Speaker 4: you look at a corporation, budgeting is like the major 21 00:01:09,520 --> 00:01:11,000 Speaker 4: thing that they do like you. I mean, like Apple 22 00:01:11,120 --> 00:01:13,240 Speaker 4: knows every dollar that comes in and comes out, Like 23 00:01:13,520 --> 00:01:16,480 Speaker 4: they pay accountants millions of dollars. They have a whole 24 00:01:16,480 --> 00:01:18,800 Speaker 4: team of accountant to keep track of the books. And 25 00:01:19,120 --> 00:01:21,759 Speaker 4: budgeting is like that's everything. Budgeting is everything. But it's 26 00:01:21,800 --> 00:01:25,280 Speaker 4: like most entrepreneurs and most regular people that just have 27 00:01:25,400 --> 00:01:28,160 Speaker 4: jobs have no idea of the budget, Like they don't 28 00:01:28,160 --> 00:01:29,840 Speaker 4: have any idea of how much money comes in, they 29 00:01:29,880 --> 00:01:31,880 Speaker 4: have no idea of how much money goes out. They're 30 00:01:31,920 --> 00:01:35,200 Speaker 4: just wringing it and just you know, spending money whenever 31 00:01:35,400 --> 00:01:38,200 Speaker 4: you know they need to, and the money comes in 32 00:01:38,240 --> 00:01:39,840 Speaker 4: and it just goes to their bank. And that's kind 33 00:01:39,840 --> 00:01:42,080 Speaker 4: of like how most people run not only their business 34 00:01:42,120 --> 00:01:45,880 Speaker 4: but their life. So budgeting, budgeting one oh one right 35 00:01:45,920 --> 00:01:49,600 Speaker 4: for somebody that has never budgeted before, but they first 36 00:01:49,600 --> 00:01:53,760 Speaker 4: and foremost why why is budgeting essential? And then we'll 37 00:01:53,760 --> 00:01:55,919 Speaker 4: go into like some different hacks that can help people 38 00:01:55,960 --> 00:01:57,480 Speaker 4: to get better with budgeting. 39 00:01:58,160 --> 00:02:01,360 Speaker 5: So budgeting is a sense of because it is a 40 00:02:01,400 --> 00:02:04,960 Speaker 5: physical picture of what your money is doing. Right, So 41 00:02:05,840 --> 00:02:08,120 Speaker 5: if you have kids and you're in the other room 42 00:02:08,120 --> 00:02:10,079 Speaker 5: and your two year old is quiet, You're like, wait, 43 00:02:11,000 --> 00:02:13,120 Speaker 5: what the hell are they breaking because you know they're 44 00:02:13,160 --> 00:02:15,760 Speaker 5: cutting up, putting a you know, putting a knife enough 45 00:02:16,000 --> 00:02:18,800 Speaker 5: in the socket whatever, you know. And so it's the 46 00:02:18,800 --> 00:02:21,360 Speaker 5: same thing with your money. Like you you have to 47 00:02:21,360 --> 00:02:22,560 Speaker 5: be on top of your money. I would say, like 48 00:02:22,560 --> 00:02:24,520 Speaker 5: your money is like a bad two year old, Like, 49 00:02:24,560 --> 00:02:26,640 Speaker 5: if you leave it to its own devices, it's gonna 50 00:02:26,639 --> 00:02:31,720 Speaker 5: be breaking shit that I can curse. Yeah, right, So 51 00:02:31,880 --> 00:02:33,360 Speaker 5: you want to be on it when it comes to 52 00:02:33,400 --> 00:02:37,040 Speaker 5: your money and be present. You are the adult. You 53 00:02:37,120 --> 00:02:38,920 Speaker 5: decide what your money does. And so that's what a 54 00:02:38,919 --> 00:02:41,040 Speaker 5: budget allows you to do. And it allows you to 55 00:02:41,120 --> 00:02:43,960 Speaker 5: be the adult of you of your life. And so 56 00:02:44,040 --> 00:02:46,200 Speaker 5: it's important. You know, I don't care how much money 57 00:02:46,200 --> 00:02:49,640 Speaker 5: you make, you can outspend like great wealth. There are 58 00:02:49,680 --> 00:02:53,320 Speaker 5: people who have been millionaires and even billionaires and have 59 00:02:53,440 --> 00:02:56,320 Speaker 5: been less penniless. So I think sometimes people think, like, well, 60 00:02:56,360 --> 00:02:58,960 Speaker 5: if I had ten million dollars, was like mc hammer 61 00:03:00,000 --> 00:03:03,440 Speaker 5: from somebody, You're like, who's that? Okay, Tody Braxton, right, 62 00:03:03,760 --> 00:03:08,000 Speaker 5: Alan Iverson. So many people have outspent their wealth. It 63 00:03:08,040 --> 00:03:09,360 Speaker 5: is more than possible. 64 00:03:10,080 --> 00:03:12,800 Speaker 4: So what kind of all right, so what are the 65 00:03:12,800 --> 00:03:14,120 Speaker 4: different strategies for budgeting? 66 00:03:14,200 --> 00:03:14,359 Speaker 5: Right? 67 00:03:14,400 --> 00:03:16,600 Speaker 4: Like it's someone okay, I realize the budgeting is important. 68 00:03:16,639 --> 00:03:17,920 Speaker 4: I want to do it. So how do I go 69 00:03:17,960 --> 00:03:22,440 Speaker 4: about it? Is it spreadsheet software? Like is there formulas 70 00:03:22,480 --> 00:03:24,360 Speaker 4: that you should use? Because some people say, like your 71 00:03:24,360 --> 00:03:26,880 Speaker 4: housing should only be like twenty or thirty percent of 72 00:03:26,919 --> 00:03:30,079 Speaker 4: your total budget. So yeah, what's your what's your philosophy? 73 00:03:30,120 --> 00:03:31,919 Speaker 4: As far as like the one on one, the person 74 00:03:32,040 --> 00:03:34,400 Speaker 4: realizes they need to budget now they actually want to 75 00:03:34,400 --> 00:03:35,600 Speaker 4: start a budget. 76 00:03:35,800 --> 00:03:38,320 Speaker 5: So let's just start super super easy, because I mean, yes, 77 00:03:38,360 --> 00:03:39,720 Speaker 5: I use this spride seat all that stuff, but most 78 00:03:39,720 --> 00:03:41,320 Speaker 5: people are not going to do that to start. It's 79 00:03:41,320 --> 00:03:43,840 Speaker 5: the difference between I want to lose some weight and 80 00:03:43,880 --> 00:03:45,960 Speaker 5: so tomorrow, like you're gonna run you know, ten miles, 81 00:03:46,000 --> 00:03:48,080 Speaker 5: You're not gonna run ten mouse. You might the first day, 82 00:03:48,120 --> 00:03:49,600 Speaker 5: and the second day you're going to go back to 83 00:03:49,640 --> 00:03:52,760 Speaker 5: the couch. So I want you to start off walking. 84 00:03:53,120 --> 00:03:55,560 Speaker 5: So for someone who's like I don't budget, I never 85 00:03:55,600 --> 00:03:59,040 Speaker 5: took to a budget. First things first is start with 86 00:03:59,160 --> 00:04:03,480 Speaker 5: having separate bank accounts, right, So I believe in having 87 00:04:03,520 --> 00:04:06,920 Speaker 5: a bill's account to pay your bills and having a 88 00:04:07,080 --> 00:04:09,960 Speaker 5: spend account to spend from your bills account. Should not 89 00:04:10,040 --> 00:04:12,440 Speaker 5: have a debit card attached to it that's a debit 90 00:04:12,440 --> 00:04:14,080 Speaker 5: card is a choice. I don't think people realize that 91 00:04:14,120 --> 00:04:16,040 Speaker 5: the bank issues you a debit card. But you could 92 00:04:16,040 --> 00:04:18,680 Speaker 5: be like, nah, I'm good. So my bill's account does 93 00:04:18,680 --> 00:04:21,200 Speaker 5: not have a debit card. My spend account, it's both. 94 00:04:21,240 --> 00:04:23,400 Speaker 5: These are checking accounts that the same bank has a 95 00:04:23,400 --> 00:04:25,720 Speaker 5: debit card. And then you want to least one savings 96 00:04:25,760 --> 00:04:28,159 Speaker 5: account not at that bank. So you want to at 97 00:04:28,200 --> 00:04:30,880 Speaker 5: least one safets account at an online only bank. And 98 00:04:30,960 --> 00:04:33,520 Speaker 5: so what it looks like is that your money comes in. 99 00:04:34,240 --> 00:04:37,440 Speaker 5: Some of it goes into your I like to call 100 00:04:37,480 --> 00:04:40,280 Speaker 5: it my deposit account, slash your spend account, so that's 101 00:04:40,279 --> 00:04:42,720 Speaker 5: where your money lands. Some of it goes into your 102 00:04:42,720 --> 00:04:44,680 Speaker 5: bills account to pay bills, and you know how much 103 00:04:44,720 --> 00:04:47,120 Speaker 5: to go into your bills account by what bills are due. 104 00:04:47,240 --> 00:04:49,400 Speaker 5: And then some of it goes into your savings. So 105 00:04:49,440 --> 00:04:52,080 Speaker 5: in the beginning you're not going to have the math perfect. 106 00:04:52,279 --> 00:04:53,800 Speaker 5: You might just be like, I don't care if ten 107 00:04:53,839 --> 00:04:56,560 Speaker 5: dollars goes into your savings. When I was at my brocus, 108 00:04:56,600 --> 00:05:00,400 Speaker 5: I was literally transferring two dollars. You know, just contin 109 00:05:00,600 --> 00:05:03,479 Speaker 5: just to have the habit of savings. You never you 110 00:05:03,560 --> 00:05:05,240 Speaker 5: never want to get out of the habit of putting 111 00:05:05,279 --> 00:05:08,640 Speaker 5: something away in your savings account. That's important. So what 112 00:05:08,680 --> 00:05:10,440 Speaker 5: I did for my husband, for example, he's not gonna 113 00:05:10,440 --> 00:05:12,479 Speaker 5: sit down and spreadsheet. That's just not happening. He's like, 114 00:05:12,520 --> 00:05:17,320 Speaker 5: what breaks city, dope? So we do instead? Now, is 115 00:05:17,640 --> 00:05:20,720 Speaker 5: we budget for him anywhere? Because I like the spreadsheet. 116 00:05:20,760 --> 00:05:23,599 Speaker 5: We budget before his money even gets there, I said, Babe, 117 00:05:23,600 --> 00:05:26,400 Speaker 5: go to HR. Here's what you're gonna tell them. Hey, 118 00:05:26,680 --> 00:05:29,280 Speaker 5: before you give me my money. Some of it goes 119 00:05:29,320 --> 00:05:33,160 Speaker 5: into his retirement account check, some of it goes into 120 00:05:33,279 --> 00:05:35,800 Speaker 5: his into his spend account. That the deposit account where 121 00:05:35,800 --> 00:05:39,200 Speaker 5: things are depositives right, check by his direct deposit account, right. 122 00:05:39,360 --> 00:05:41,800 Speaker 5: Some of it goes into our joint bill's account check, 123 00:05:42,240 --> 00:05:45,440 Speaker 5: some goes into his personal savings check, and some goes 124 00:05:45,440 --> 00:05:49,479 Speaker 5: into our joint savings. So he basically his budget is 125 00:05:49,520 --> 00:05:54,000 Speaker 5: done automatically through HR, so it lands and all he 126 00:05:54,080 --> 00:05:55,920 Speaker 5: has to think about is when it comes to his 127 00:05:55,960 --> 00:05:57,880 Speaker 5: personal savings, whatever you want to do to that, that's 128 00:05:57,880 --> 00:06:00,400 Speaker 5: your business, as tabit. That would saying the vegan begon 129 00:06:00,480 --> 00:06:02,239 Speaker 5: chef that ready loves right now, and that's your business, 130 00:06:02,760 --> 00:06:05,640 Speaker 5: right and all he has to worry about too, it's 131 00:06:05,680 --> 00:06:08,359 Speaker 5: his basically his allowance in his deposit account, in his 132 00:06:08,600 --> 00:06:11,200 Speaker 5: spending account. So whatever's in his spending account. If I 133 00:06:11,200 --> 00:06:13,440 Speaker 5: see my husband with some new JS on. Back in 134 00:06:13,440 --> 00:06:14,880 Speaker 5: the day, I used to be like, oh, that's what 135 00:06:14,920 --> 00:06:18,720 Speaker 5: we're doing. I enjoyers with the bread money. Now it's 136 00:06:19,400 --> 00:06:22,280 Speaker 5: no more right because I know one thing. He didn't 137 00:06:22,279 --> 00:06:24,000 Speaker 5: take it from the bills account. He didn't take it 138 00:06:24,000 --> 00:06:26,080 Speaker 5: from our joint savings. So if he took it from 139 00:06:26,080 --> 00:06:31,000 Speaker 5: his personal savings or his spending account, that's fine. And 140 00:06:31,040 --> 00:06:32,600 Speaker 5: so like if you don't know how to do anything else, 141 00:06:32,640 --> 00:06:35,960 Speaker 5: if you just have at least those three accounts and 142 00:06:36,000 --> 00:06:38,880 Speaker 5: have your money automatically split from well really four because 143 00:06:38,880 --> 00:06:40,600 Speaker 5: you want to have a retirement account and have your 144 00:06:40,600 --> 00:06:44,240 Speaker 5: money split from work, then you will be ahead of 145 00:06:44,240 --> 00:06:46,320 Speaker 5: the game. And so for people who want to go 146 00:06:46,360 --> 00:06:48,640 Speaker 5: a little bit deeper. For me, you know, like I, 147 00:06:48,760 --> 00:06:49,880 Speaker 5: like I said, I like to have spread to you. 148 00:06:49,960 --> 00:06:52,680 Speaker 5: I like to know how much we're spending on on 149 00:06:52,680 --> 00:06:55,359 Speaker 5: on groceries, how much we're spending on gas, So I 150 00:06:55,440 --> 00:06:57,320 Speaker 5: keep track of that. I just the tool I like 151 00:06:57,360 --> 00:06:59,320 Speaker 5: to use message, just excel, So I like to keep 152 00:06:59,320 --> 00:07:01,520 Speaker 5: track of that. There, but you don't necessarily have to. 153 00:07:01,600 --> 00:07:04,840 Speaker 5: You set aside a you know, an allowance for yourself. 154 00:07:05,520 --> 00:07:08,160 Speaker 5: Typically things are led by bills. So if ideally you 155 00:07:08,240 --> 00:07:10,840 Speaker 5: want to be setting aside twelve to fifteen percent for 156 00:07:10,920 --> 00:07:12,960 Speaker 5: your retirement, and you probably are saying like, I can't 157 00:07:13,000 --> 00:07:15,600 Speaker 5: afford to lose twelve to fifteen percent of my pay, 158 00:07:15,840 --> 00:07:17,600 Speaker 5: or to start with one percent, and every six months 159 00:07:17,600 --> 00:07:20,080 Speaker 5: you boosted up, start with a half percent, and every 160 00:07:20,080 --> 00:07:22,840 Speaker 5: six months you boosted up, start with something towards retirement. 161 00:07:23,480 --> 00:07:25,800 Speaker 5: And then your bills. I like to do bills every 162 00:07:25,880 --> 00:07:28,440 Speaker 5: two weeks, so the money I have transferred to the 163 00:07:28,480 --> 00:07:31,360 Speaker 5: bills account, you ask yourself, okay, how much are my 164 00:07:31,400 --> 00:07:33,720 Speaker 5: bills from the first to the fifteenth, and how much 165 00:07:33,760 --> 00:07:35,800 Speaker 5: are my bills from the fifteen to the thirtieth, And 166 00:07:35,840 --> 00:07:38,200 Speaker 5: that's how you know how much to be going into 167 00:07:38,200 --> 00:07:41,000 Speaker 5: the bill's account. You know, so it might be or 168 00:07:41,040 --> 00:07:43,040 Speaker 5: you might just have a select number. You might say, well, 169 00:07:43,120 --> 00:07:46,160 Speaker 5: my bills are around three thousand dollars a month, so 170 00:07:46,200 --> 00:07:49,800 Speaker 5: every paycheck or every pay period, my bi weekly or 171 00:07:49,840 --> 00:07:52,080 Speaker 5: my bi monthly pay period, fifteen hundred dollars is going 172 00:07:52,120 --> 00:07:55,200 Speaker 5: to go into my bill's account. And having your bills account, 173 00:07:55,240 --> 00:07:58,000 Speaker 5: paid bills automatically for you is really going to be 174 00:07:58,160 --> 00:08:01,800 Speaker 5: like clutch, Like I don't pay bills, bills pay themselves, 175 00:08:01,960 --> 00:08:03,640 Speaker 5: so it lands on my bill's account and then dark 176 00:08:03,760 --> 00:08:07,880 Speaker 5: my bills already know I pay my pay the electric bill, 177 00:08:08,040 --> 00:08:10,480 Speaker 5: pay the water bill, pay these bills for me automatically, 178 00:08:10,640 --> 00:08:13,240 Speaker 5: and like I said, what's left in mind, spend account 179 00:08:13,320 --> 00:08:15,600 Speaker 5: is attached to my debtit card and I can spend 180 00:08:15,640 --> 00:08:18,480 Speaker 5: and when that money is done, so on mine. What's 181 00:08:18,480 --> 00:08:22,320 Speaker 5: really important too about a budget is is the savings account. 182 00:08:22,440 --> 00:08:24,640 Speaker 5: I don't want you to save at your regular bank 183 00:08:25,040 --> 00:08:27,280 Speaker 5: because it makes it easy to transfer. We've all been 184 00:08:27,280 --> 00:08:30,520 Speaker 5: there at Target right and been like, oh man, like 185 00:08:30,600 --> 00:08:33,160 Speaker 5: I really want whatever this thing is, this bleunder this dress, 186 00:08:33,240 --> 00:08:35,280 Speaker 5: this shirt, and you look at check in. You know 187 00:08:35,400 --> 00:08:37,400 Speaker 5: Daril William got no money and check in, but you 188 00:08:37,400 --> 00:08:40,760 Speaker 5: know who got money there, savings, And then you're in 189 00:08:40,880 --> 00:08:43,080 Speaker 5: line making that transfer, like happy about it to like 190 00:08:43,120 --> 00:08:45,320 Speaker 5: making a transfer even though you're like that was supposed 191 00:08:45,320 --> 00:08:47,440 Speaker 5: to be for powers. You're like pass, can wait, tease 192 00:08:47,440 --> 00:08:50,360 Speaker 5: your care make that transfer and you're like dang. Later 193 00:08:50,400 --> 00:08:52,280 Speaker 5: you're like this, why I don't never go nowhere because 194 00:08:52,280 --> 00:08:54,160 Speaker 5: I'm always at Target to buy a toilet tissue and 195 00:08:54,160 --> 00:08:55,960 Speaker 5: then I leave but three hundred dollars worth of stuff. 196 00:08:56,480 --> 00:08:59,680 Speaker 5: If you put your savings in an online only savings account, though, 197 00:09:00,480 --> 00:09:03,680 Speaker 5: then you're gonna have to wait at least twenty four 198 00:09:03,720 --> 00:09:06,600 Speaker 5: to seventy two hours for your savings at your online 199 00:09:06,640 --> 00:09:10,079 Speaker 5: only savings account to transfer back to your checking to 200 00:09:10,600 --> 00:09:13,679 Speaker 5: your spend account. And so what that means is it 201 00:09:13,679 --> 00:09:16,880 Speaker 5: makes your money inconvenient, and inconvenient money get saved. So 202 00:09:16,920 --> 00:09:20,000 Speaker 5: I like this website called magnify money dot com to 203 00:09:20,040 --> 00:09:22,480 Speaker 5: look for an online only savings account because they grade 204 00:09:22,960 --> 00:09:25,240 Speaker 5: savings accounts from A to F. So you're gonna look 205 00:09:25,240 --> 00:09:27,880 Speaker 5: for an a account that's one. Two, you're gonna look 206 00:09:27,880 --> 00:09:32,120 Speaker 5: for an account that's FDIC insured that's two. Three, You're 207 00:09:32,120 --> 00:09:33,840 Speaker 5: gonna look for an account that's gonna give the highest 208 00:09:33,840 --> 00:09:36,440 Speaker 5: interest rate because your big bank is not gonna give 209 00:09:36,440 --> 00:09:39,160 Speaker 5: you much of an interest rate. So online only savings 210 00:09:39,200 --> 00:09:41,880 Speaker 5: accounts don't have as much overhead, so they pass that 211 00:09:41,960 --> 00:09:44,400 Speaker 5: on to you and you earn a higher interest. And 212 00:09:44,520 --> 00:09:47,080 Speaker 5: then for you're going to look for a bank that 213 00:09:47,160 --> 00:09:50,839 Speaker 5: has low deposit requirement. So that means in order to 214 00:09:50,880 --> 00:09:53,080 Speaker 5: open up the bank account. Maybe you have to you 215 00:09:53,080 --> 00:09:55,120 Speaker 5: have to put in a dollar and also too in 216 00:09:55,200 --> 00:09:58,040 Speaker 5: order to maintain and get that interest. You don't want 217 00:09:58,080 --> 00:09:59,720 Speaker 5: them to say you have to have ten thousand dollars 218 00:09:59,760 --> 00:10:01,400 Speaker 5: in the make account in order for you to earn 219 00:10:01,840 --> 00:10:04,480 Speaker 5: the interests that they've advertised. So those are the four 220 00:10:04,520 --> 00:10:06,920 Speaker 5: components you're going to look for in your online safe account. 221 00:10:07,080 --> 00:10:09,440 Speaker 5: So I hate to say like, oh, twenty percent here, 222 00:10:09,480 --> 00:10:13,720 Speaker 5: thirty percent there, unless you have an irregular income. You 223 00:10:13,760 --> 00:10:16,800 Speaker 5: don't have to live by percentages. You would live by amounts. 224 00:10:16,840 --> 00:10:20,360 Speaker 5: So one hundred dollars here, three hundred dollars there, four 225 00:10:20,440 --> 00:10:22,600 Speaker 5: hundred dollars here, that's what you're That's the split that 226 00:10:22,600 --> 00:10:25,200 Speaker 5: you should be doing regularly every month. If your money 227 00:10:25,280 --> 00:10:28,520 Speaker 5: it fluctuates because you have an irregular income, then you 228 00:10:28,880 --> 00:10:31,920 Speaker 5: might say, you know, forty percent goes into my bills. 229 00:10:33,000 --> 00:10:36,200 Speaker 5: You know five percent goes into spending. But you have 230 00:10:36,240 --> 00:10:38,880 Speaker 5: to work backwards, like how much are your bills Unless 231 00:10:38,920 --> 00:10:40,920 Speaker 5: you're starting from scratching your twenty one you're just moving 232 00:10:40,920 --> 00:10:43,360 Speaker 5: out that you can force your bills to fit within 233 00:10:43,640 --> 00:10:45,920 Speaker 5: that percentage. But it's easy for people to say, oh 234 00:10:45,960 --> 00:10:48,720 Speaker 5: seventy thirty Yeah, but like, so, what are your bills 235 00:10:48,720 --> 00:10:50,600 Speaker 5: actually though your bills might be seventy percent of your 236 00:10:50,600 --> 00:10:53,680 Speaker 5: income right now, you know, so that's so you have 237 00:10:53,720 --> 00:10:55,959 Speaker 5: to pay your bills and you're I'm not worried about 238 00:10:55,960 --> 00:10:58,320 Speaker 5: the percentage, just now, like how much you actually need 239 00:10:58,360 --> 00:11:01,000 Speaker 5: to pay bills? Put that in the bills accoun Okay, 240 00:11:01,160 --> 00:11:03,360 Speaker 5: how much ideally do you want to save once those 241 00:11:03,360 --> 00:11:05,040 Speaker 5: bills are paid? I want to save one hundred dollars 242 00:11:05,080 --> 00:11:07,360 Speaker 5: a month, So make that a bill. Now that one 243 00:11:07,440 --> 00:11:09,760 Speaker 5: hundred dollars a month is automatically put into that savings 244 00:11:09,760 --> 00:11:12,600 Speaker 5: account directly from your job. And then what's left over, 245 00:11:12,760 --> 00:11:14,559 Speaker 5: like I said, is your spending money. You know, you 246 00:11:14,640 --> 00:11:16,600 Speaker 5: might tell yourself, I'm going to give myself fifty dollars 247 00:11:17,240 --> 00:11:21,080 Speaker 5: every two weeks for spending. Okay, great, and for whatever reason, 248 00:11:21,160 --> 00:11:23,600 Speaker 5: if there's not enough money, then you take care of bills. 249 00:11:23,920 --> 00:11:25,480 Speaker 5: You say, I guess I can't save this month, and 250 00:11:25,520 --> 00:11:29,520 Speaker 5: I guess I can't. I don't spending money this month 251 00:11:29,559 --> 00:11:31,520 Speaker 5: for like, you know, spending money for things that are 252 00:11:31,559 --> 00:11:34,760 Speaker 5: like you know, like hair nails, grooming, this and that. 253 00:11:34,880 --> 00:11:37,120 Speaker 5: You know, so sometimes you don't have it, and that's okay. 254 00:11:37,320 --> 00:11:39,160 Speaker 5: So there are times when I didn't have it, but 255 00:11:39,200 --> 00:11:41,520 Speaker 5: I had to pay bills, and even sometimes I didn't 256 00:11:41,520 --> 00:11:42,920 Speaker 5: have enough for bills and I had to say, well, 257 00:11:42,960 --> 00:11:45,200 Speaker 5: I have to pay my noodle budget bills, my essential bills. 258 00:11:45,480 --> 00:11:48,720 Speaker 5: Verizon can wait. Rising is not going to shoot you 259 00:11:48,760 --> 00:11:51,400 Speaker 5: if you don't pay. Yes, we'll affect your credit score, 260 00:11:51,400 --> 00:11:53,280 Speaker 5: but credit scores are things that you can you can 261 00:11:53,400 --> 00:11:56,360 Speaker 5: you can increase later. I much rather you take care 262 00:11:56,400 --> 00:11:57,719 Speaker 5: of things that are going to make you happy, I 263 00:11:57,760 --> 00:11:59,480 Speaker 5: mean healthy and safe. 264 00:12:00,240 --> 00:12:02,079 Speaker 2: I was just thinking about that because one of the things, 265 00:12:02,120 --> 00:12:05,320 Speaker 2: the powerful things you talk about is identifying ifs, Like 266 00:12:05,360 --> 00:12:07,520 Speaker 2: we can have anything we want if we just identify 267 00:12:07,559 --> 00:12:10,440 Speaker 2: our ifs in control them so that we can budget. 268 00:12:10,520 --> 00:12:10,640 Speaker 3: Right. 269 00:12:10,800 --> 00:12:13,680 Speaker 2: So if I want to say four hundred dollars, maybe 270 00:12:13,840 --> 00:12:17,000 Speaker 2: I don't go to the barbershop twice a week. Right, 271 00:12:17,080 --> 00:12:19,040 Speaker 2: So can you talk about the your points of identifying 272 00:12:19,080 --> 00:12:21,120 Speaker 2: the ifs and how they can translate to having more 273 00:12:21,160 --> 00:12:21,960 Speaker 2: money in your budget? 274 00:12:22,520 --> 00:12:24,680 Speaker 5: Absolutely, there are four questions you should ask yourself before 275 00:12:24,720 --> 00:12:27,600 Speaker 5: you spend any money. Do I need it? Do I 276 00:12:27,720 --> 00:12:30,120 Speaker 5: love it? Do I like it? Do I want it? 277 00:12:30,280 --> 00:12:32,800 Speaker 5: Need it? Love it like it? Want it, need it, 278 00:12:32,920 --> 00:12:36,960 Speaker 5: love it like it? What you need to switch on right. 279 00:12:37,440 --> 00:12:40,080 Speaker 5: So your needs come first. That's food, cholter, clothing, water, 280 00:12:40,160 --> 00:12:43,440 Speaker 5: the absolute necessities you must have to stay healthy and safe. 281 00:12:43,640 --> 00:12:45,560 Speaker 5: You pay for those first. Most of us are here 282 00:12:45,600 --> 00:12:49,360 Speaker 5: to that. That's why you're alive. Then your loves are 283 00:12:49,480 --> 00:12:52,600 Speaker 5: those things that enhance your life. What are things five 284 00:12:53,040 --> 00:12:56,480 Speaker 5: ten years from now that's still our value even though 285 00:12:56,520 --> 00:12:58,640 Speaker 5: that thing might not be there right. So if you 286 00:12:58,679 --> 00:13:00,679 Speaker 5: had Oprah's bank account, I tell people what would you 287 00:13:00,720 --> 00:13:02,640 Speaker 5: do or do more of? So a lot of people 288 00:13:02,679 --> 00:13:04,960 Speaker 5: say travel, maybe they'd start a business, maybe they go 289 00:13:05,000 --> 00:13:08,160 Speaker 5: back to school, maybe the philanthropy, whatever that is. So 290 00:13:08,200 --> 00:13:10,480 Speaker 5: those are your loves. Those are things that give you 291 00:13:10,720 --> 00:13:14,000 Speaker 5: long term joy, even when that thing is not physically 292 00:13:14,040 --> 00:13:17,840 Speaker 5: there right. And then your likes are short term joy. 293 00:13:18,160 --> 00:13:22,480 Speaker 5: So you know that's your target, run, that's your that's 294 00:13:22,520 --> 00:13:24,480 Speaker 5: that dress that you're like, oh, this is super cute. 295 00:13:25,280 --> 00:13:27,480 Speaker 5: You know that might be I don't know, eating out 296 00:13:27,520 --> 00:13:29,080 Speaker 5: with friends or eating out with friends might be a 297 00:13:29,080 --> 00:13:31,199 Speaker 5: love because you might be like, yo, I'm such a foodie. 298 00:13:31,240 --> 00:13:34,120 Speaker 5: Five years from now, I'm remembering that restaurant. So there's 299 00:13:34,160 --> 00:13:36,360 Speaker 5: no judgment, you get to decide, But likes our short 300 00:13:36,400 --> 00:13:39,120 Speaker 5: term joy. And wants are just things to get. I 301 00:13:39,360 --> 00:13:41,520 Speaker 5: really try to stay away from just frivolous spending, which 302 00:13:41,600 --> 00:13:43,800 Speaker 5: is what wants are. It doesn't mean I never do it, 303 00:13:44,160 --> 00:13:46,160 Speaker 5: but it doesn't make sense to trick up your money 304 00:13:46,160 --> 00:13:49,440 Speaker 5: and wants when you can have more things for loves 305 00:13:49,480 --> 00:13:52,440 Speaker 5: and your needs. And so what I try to do 306 00:13:52,440 --> 00:13:54,200 Speaker 5: is so I try to live in the second half, 307 00:13:54,320 --> 00:13:56,640 Speaker 5: the first half of life, my needs and my loves, 308 00:13:56,679 --> 00:14:01,199 Speaker 5: because that's an enriched, fulfilled life. I'm not really a foodie, 309 00:14:01,800 --> 00:14:05,679 Speaker 5: although my belly would to just otherwise, but I'm not 310 00:14:05,720 --> 00:14:08,080 Speaker 5: really a foodie. But I used to go eat brunch 311 00:14:08,240 --> 00:14:10,040 Speaker 5: every weekend with my friends and then one day I 312 00:14:10,080 --> 00:14:11,240 Speaker 5: was like, why thew am I going to bunch. I 313 00:14:11,240 --> 00:14:13,560 Speaker 5: have not been on vacation in like two years, so 314 00:14:13,640 --> 00:14:16,560 Speaker 5: I stopped going. They're likeyos Hilly, You're so cheap, right, 315 00:14:16,600 --> 00:14:18,000 Speaker 5: And I'm like, I'm not cheap. It's just that, like, 316 00:14:18,040 --> 00:14:19,520 Speaker 5: I don't want to spend my money on bunch anymore. 317 00:14:19,560 --> 00:14:22,480 Speaker 5: I don't want to spend thirty dollars a week eating brunch, 318 00:14:22,520 --> 00:14:24,360 Speaker 5: And so I started saving my brunch money that I 319 00:14:24,400 --> 00:14:25,880 Speaker 5: made it a game every time they asked me to 320 00:14:25,880 --> 00:14:27,760 Speaker 5: go to brunch, I would put I would transfer thirty 321 00:14:27,800 --> 00:14:30,280 Speaker 5: dollars to my savings account, and then within a few 322 00:14:30,320 --> 00:14:32,320 Speaker 5: months I had enough money. I went for my first 323 00:14:32,320 --> 00:14:35,880 Speaker 5: solo travel trip. I went to Albuquerque, New Mexico because 324 00:14:35,960 --> 00:14:37,640 Speaker 5: I had on my bucket list I wanted to ride 325 00:14:37,640 --> 00:14:40,480 Speaker 5: in a hot air balloon. In Albuquerque, New Mexico's the 326 00:14:40,520 --> 00:14:42,760 Speaker 5: high air bloon capital of the world. Who knew? Now 327 00:14:42,800 --> 00:14:45,840 Speaker 5: you do yes, right? And so I was like, okay. 328 00:14:45,920 --> 00:14:49,480 Speaker 5: So I remember my friend called me Tijana. She was like, hey, girl, 329 00:14:49,520 --> 00:14:51,360 Speaker 5: we're about to have We're gonna have brunch tomorrow. But 330 00:14:51,400 --> 00:14:53,600 Speaker 5: I know you and yo cheap behind you ain't going. 331 00:14:53,920 --> 00:14:55,640 Speaker 5: I was like, cause I was like slight flex, well, 332 00:14:55,680 --> 00:14:58,160 Speaker 5: actually major flex. I was like, ooh girl, I'm about 333 00:14:58,160 --> 00:14:59,920 Speaker 5: to get in a hot air balloon. The captain said, 334 00:14:59,920 --> 00:15:01,400 Speaker 5: I turn off my phone. Can I call you later? 335 00:15:01,880 --> 00:15:04,120 Speaker 5: She was like, I had an air Ballottle and Newer. 336 00:15:04,200 --> 00:15:07,640 Speaker 5: I'm like, no, girl, New Mexico. That's when I do 337 00:15:07,680 --> 00:15:12,440 Speaker 5: with my brunch money. Mike drop. Okay, So now don't 338 00:15:12,440 --> 00:15:15,120 Speaker 5: I stop telling my friends. I don't say I don't say. 339 00:15:14,960 --> 00:15:15,480 Speaker 3: No to brunch. 340 00:15:15,480 --> 00:15:17,880 Speaker 5: I'll tell them like, ah Na, girl, I can't go 341 00:15:17,960 --> 00:15:20,360 Speaker 5: right now, because I'm saying yes to Paris, I'm saying 342 00:15:20,440 --> 00:15:23,240 Speaker 5: yes to Istanbul, I'm saying yes to Santorina. These are 343 00:15:23,240 --> 00:15:26,000 Speaker 5: places I've been. I'm saying yes to Morocco. And so 344 00:15:26,080 --> 00:15:28,680 Speaker 5: I started to decide for myself what my needs and 345 00:15:28,760 --> 00:15:31,520 Speaker 5: my loves were. So I'm not against spending money. I'm 346 00:15:31,560 --> 00:15:33,960 Speaker 5: against spending money on things that don't matter to you. 347 00:15:34,200 --> 00:15:37,720 Speaker 5: Prioritize what your more is, like some of us are 348 00:15:37,760 --> 00:15:41,720 Speaker 5: spending our whole life spending money on someone else's idea 349 00:15:41,760 --> 00:15:44,960 Speaker 5: of more. Tajuanta is a foodie, not me. That's her more, 350 00:15:45,360 --> 00:15:47,760 Speaker 5: that's less for me. You know, let her eat out 351 00:15:47,800 --> 00:15:49,280 Speaker 5: with another food if she can come to my house 352 00:15:49,280 --> 00:15:51,320 Speaker 5: and chill out for free. And so that's really how 353 00:15:51,360 --> 00:15:54,200 Speaker 5: you start to prioritize, just to ask yourself, like what 354 00:15:54,240 --> 00:15:57,040 Speaker 5: does more of a life truly mean? You know, for me, 355 00:15:57,560 --> 00:15:59,520 Speaker 5: I don't want any You know, your spending should be 356 00:15:59,520 --> 00:16:02,120 Speaker 5: reflected of your values and how you want your life 357 00:16:02,120 --> 00:16:02,320 Speaker 5: to go. 358 00:16:02,560 --> 00:16:05,760 Speaker 4: So you said it hunting with the online. 359 00:16:05,960 --> 00:16:08,320 Speaker 2: Earners, what's up? You ever walk into a small business 360 00:16:08,360 --> 00:16:11,520 Speaker 2: and everything just works, like the checkout is fast, the 361 00:16:11,600 --> 00:16:15,480 Speaker 2: receipts are digital. Tipping is a breeze and you're out 362 00:16:15,480 --> 00:16:18,720 Speaker 2: the door before the line even builds. Odds are they're 363 00:16:18,880 --> 00:16:22,360 Speaker 2: using Square. We love supporting businesses that run on Square 364 00:16:22,440 --> 00:16:25,560 Speaker 2: because it just feels seamless. Whether it's a local coffee shop, 365 00:16:25,760 --> 00:16:28,240 Speaker 2: a vendor at a pop up market, or even one 366 00:16:28,280 --> 00:16:31,360 Speaker 2: of our merch partners, Square makes it easy for them 367 00:16:31,400 --> 00:16:35,360 Speaker 2: to take payments, manage inventory, and run their business with confidence, 368 00:16:35,720 --> 00:16:39,040 Speaker 2: all from one simple system. If you're a business owner 369 00:16:39,240 --> 00:16:42,640 Speaker 2: or even just thinking about launching something soon, Square is 370 00:16:42,720 --> 00:16:44,760 Speaker 2: hands down one of the best tools out there to 371 00:16:44,840 --> 00:16:48,760 Speaker 2: help you start, run, and grow. 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It's like banking with P and C Bank. 383 00:17:31,760 --> 00:17:34,560 Speaker 2: It might seem boring to save, plan and make calculated 384 00:17:34,600 --> 00:17:37,679 Speaker 2: decisions with your bank, but keeping your money boring is 385 00:17:37,720 --> 00:17:41,040 Speaker 2: what helps you live a more happily fulfilled life. P 386 00:17:41,160 --> 00:17:46,000 Speaker 2: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly 387 00:17:46,040 --> 00:17:48,679 Speaker 2: Boring since eighteen sixty five is a service mark of 388 00:17:48,720 --> 00:17:51,960 Speaker 2: the PNC Financial Service Group, Inc. P and C Bank 389 00:17:52,359 --> 00:17:54,560 Speaker 2: National Association Member FDIC. 390 00:17:56,720 --> 00:17:59,439 Speaker 6: Coach, the energy out there felt different. What changed for 391 00:17:59,480 --> 00:18:00,200 Speaker 6: the team today? 392 00:18:00,200 --> 00:18:02,399 Speaker 7: It was a new game day scratches from the California 393 00:18:02,440 --> 00:18:03,880 Speaker 7: Lottery players everything. 394 00:18:04,200 --> 00:18:06,160 Speaker 3: Those games sent the team's energy through the roof. 395 00:18:06,240 --> 00:18:08,199 Speaker 6: Are you saying it was the off field play that 396 00:18:08,280 --> 00:18:09,399 Speaker 6: made the difference on the field. 397 00:18:09,480 --> 00:18:12,200 Speaker 7: Hey, little play makes your day, and today it made 398 00:18:12,240 --> 00:18:12,639 Speaker 7: the game. 399 00:18:13,119 --> 00:18:15,440 Speaker 3: That's all for now, Coach, one more question. 400 00:18:15,320 --> 00:18:18,159 Speaker 8: Play than you Los Angeles Chargers, San Francisco forty nine 401 00:18:18,240 --> 00:18:21,280 Speaker 8: Ers and Los Angeles ram scratchers from the California Lottery. 402 00:18:21,400 --> 00:18:24,520 Speaker 8: A little play can make your day. Peace made responsibily. 403 00:18:24,600 --> 00:18:26,119 Speaker 8: Must be eighteen years or older to purchase plate or 404 00:18:26,160 --> 00:18:26,960 Speaker 8: claim my savings. 405 00:18:26,960 --> 00:18:28,600 Speaker 4: That was a good point, I tell people all the time, 406 00:18:28,640 --> 00:18:30,200 Speaker 4: like you got to treat your savings like a bill, 407 00:18:30,800 --> 00:18:32,879 Speaker 4: like how you have your bill, your car bill, Like 408 00:18:32,920 --> 00:18:34,600 Speaker 4: you can't afford to not pay your car bill. You 409 00:18:34,640 --> 00:18:37,199 Speaker 4: can't afford to not pay your cell phone bill. So savings, 410 00:18:37,200 --> 00:18:38,879 Speaker 4: like you said, no matter how much it is, it 411 00:18:38,920 --> 00:18:41,120 Speaker 4: should be a line item in a bill, I think, 412 00:18:41,560 --> 00:18:42,359 Speaker 4: but I wanted touch on. 413 00:18:42,400 --> 00:18:43,160 Speaker 3: I had a few questions. 414 00:18:43,240 --> 00:18:46,879 Speaker 4: So first when you had mentioned with your husband with HR, soho, 415 00:18:47,200 --> 00:18:49,560 Speaker 4: I didn't even know that was possible. So somebody's paycheck 416 00:18:49,600 --> 00:18:53,520 Speaker 4: can be split into different bank accounts for direct depositis. 417 00:18:53,280 --> 00:18:57,000 Speaker 5: Typically up to four. So most mid size so like 418 00:18:57,000 --> 00:18:58,639 Speaker 5: even my company. I don't have some huge company, but 419 00:18:58,680 --> 00:19:01,040 Speaker 5: we're able to do that. So typically a to four splits. 420 00:19:01,480 --> 00:19:04,720 Speaker 5: And so if you're if you're a single, ready to mingle, 421 00:19:05,440 --> 00:19:09,480 Speaker 5: I would say your bill's account a like, and your 422 00:19:09,480 --> 00:19:11,480 Speaker 5: savings account and your spending account. So I would do 423 00:19:11,520 --> 00:19:15,960 Speaker 5: the three right. So but if you are in a 424 00:19:16,000 --> 00:19:19,440 Speaker 5: relationship where you're like sharing expenses, then I would have four. 425 00:19:19,480 --> 00:19:21,359 Speaker 5: I believe that you should have some autonomy over your 426 00:19:21,359 --> 00:19:25,160 Speaker 5: finances as well as responsibility because you're with someone, So 427 00:19:25,200 --> 00:19:29,960 Speaker 5: that would be a personal savings. Each person a joint savings, 428 00:19:30,000 --> 00:19:34,720 Speaker 5: a joint bills, and and and and then your own 429 00:19:34,760 --> 00:19:37,720 Speaker 5: spending account. So to checking two savings. So one of 430 00:19:37,720 --> 00:19:40,119 Speaker 5: the checking one of the savings is yours, and the 431 00:19:40,160 --> 00:19:43,400 Speaker 5: other checking the other savings is someone else's well belongs 432 00:19:43,400 --> 00:19:45,040 Speaker 5: to collectively to the whole. 433 00:19:45,920 --> 00:19:47,720 Speaker 4: And all you have to do is just go to 434 00:19:47,880 --> 00:19:50,440 Speaker 4: HR And it's like a form like the regular direct 435 00:19:50,440 --> 00:19:52,159 Speaker 4: deposit form that you fill out, but it's just like 436 00:19:52,200 --> 00:19:54,200 Speaker 4: you can just add different bank accounts to it, yes, 437 00:19:54,320 --> 00:19:54,960 Speaker 4: and tell them. 438 00:19:54,840 --> 00:19:56,560 Speaker 5: This is the amount, like like you know, my check 439 00:19:56,680 --> 00:19:59,480 Speaker 5: is five thousand dollars. You know, let's just say a 440 00:19:59,520 --> 00:20:01,760 Speaker 5: pay period, a thousand goes here, a thousand goes here, 441 00:20:01,800 --> 00:20:04,240 Speaker 5: a thousand goes here, and so now like the other day, 442 00:20:04,440 --> 00:20:06,920 Speaker 5: because because because it's online only savings, we don't look 443 00:20:06,960 --> 00:20:10,240 Speaker 5: at it all the time, my husband is like, yo, babe, 444 00:20:10,359 --> 00:20:14,400 Speaker 5: I got mad money in my savings. I'm like, okay, 445 00:20:14,480 --> 00:20:19,080 Speaker 5: you're welcome, I upgrade right, But he was like, I 446 00:20:19,240 --> 00:20:21,919 Speaker 5: never had this much save because he doesn't think about it. 447 00:20:21,920 --> 00:20:23,800 Speaker 5: It's been like the last two or three years that 448 00:20:23,880 --> 00:20:26,560 Speaker 5: money would just land. So my husband is the type 449 00:20:27,080 --> 00:20:28,679 Speaker 5: maybe this is all man with your boys, and you know, 450 00:20:28,680 --> 00:20:30,800 Speaker 5: your boys be like, yo, yo, you can let me 451 00:20:30,840 --> 00:20:33,159 Speaker 5: hold thirty dollars. You gonna let me hear, you know, 452 00:20:33,359 --> 00:20:36,080 Speaker 5: And so he would always be like, yo, bhabe such 453 00:20:36,080 --> 00:20:38,040 Speaker 5: and such as you know, such a such a struggling 454 00:20:38,040 --> 00:20:41,960 Speaker 5: to be And I'd be like, who tone, I don't 455 00:20:41,960 --> 00:20:44,600 Speaker 5: even like tone, right, but like you know so now 456 00:20:44,640 --> 00:20:46,320 Speaker 5: because so we would have to be talking back and 457 00:20:46,400 --> 00:20:48,359 Speaker 5: forth to take money out of our our joint pot. 458 00:20:48,760 --> 00:20:51,280 Speaker 5: So now there's none of that because one, you have 459 00:20:51,359 --> 00:20:53,280 Speaker 5: your own allowance money and you have your own savings. 460 00:20:53,359 --> 00:20:55,239 Speaker 5: You want to give tone all your safe and that's 461 00:20:55,240 --> 00:20:56,280 Speaker 5: how you won't live your life. 462 00:20:56,359 --> 00:21:00,000 Speaker 2: Go ahead, you know, joint account exactly. 463 00:21:00,119 --> 00:21:02,080 Speaker 5: I was like, I'm looking at the joint saving in 464 00:21:02,119 --> 00:21:04,320 Speaker 5: the doorbell. I was like, okay, long, I'll see no 465 00:21:04,400 --> 00:21:07,600 Speaker 5: tone bill in that. So it allows you, you know, 466 00:21:07,640 --> 00:21:09,640 Speaker 5: so everyone to feel like you're part of this community 467 00:21:09,640 --> 00:21:12,440 Speaker 5: where you're all contributing, but allows you to have autonomy, 468 00:21:12,440 --> 00:21:14,040 Speaker 5: like he could do whatever he wants with well, not 469 00:21:14,119 --> 00:21:16,040 Speaker 5: whatever he wants, but you know what I mean, Like 470 00:21:16,080 --> 00:21:18,560 Speaker 5: with his money, he can decide. And so I think 471 00:21:18,560 --> 00:21:21,480 Speaker 5: that works best for if you're in a significant relationship 472 00:21:21,520 --> 00:21:22,280 Speaker 5: with someone. 473 00:21:22,200 --> 00:21:25,240 Speaker 4: And another thing the last question. So the online savings, 474 00:21:25,240 --> 00:21:27,240 Speaker 4: like I said, I believe the same thing you said, 475 00:21:27,280 --> 00:21:28,560 Speaker 4: as far as it's good to have it, not with 476 00:21:28,600 --> 00:21:30,840 Speaker 4: the bank like I Chase. I have Chase from my 477 00:21:30,960 --> 00:21:33,320 Speaker 4: business and my personal bank account, but I have Capital 478 00:21:33,359 --> 00:21:36,880 Speaker 4: one my online savings. And the reason is that it's 479 00:21:36,960 --> 00:21:38,440 Speaker 4: not it's a whole hassle to get the money. You 480 00:21:38,480 --> 00:21:41,320 Speaker 4: gotta wait like three days. So psychologically it's like out 481 00:21:41,400 --> 00:21:43,320 Speaker 4: of sight, out of mind when you when you when 482 00:21:43,320 --> 00:21:45,160 Speaker 4: I log on and Chase app, I don't see it. 483 00:21:45,400 --> 00:21:47,160 Speaker 4: I even forget about it. I was just thinking about 484 00:21:47,160 --> 00:21:49,879 Speaker 4: it just now, like I forgot about I forgot about it. 485 00:21:49,880 --> 00:21:51,280 Speaker 4: I haven't really even you know what I'm saying. So 486 00:21:52,400 --> 00:21:56,199 Speaker 4: what what do you have any top banks that you're 487 00:21:56,240 --> 00:21:59,080 Speaker 4: recommending like or like interest rates that we should be 488 00:21:59,080 --> 00:22:01,000 Speaker 4: because I figure, I get what my interest rate is. 489 00:22:01,040 --> 00:22:02,959 Speaker 4: I know it's slightly higher, like you said, because online 490 00:22:02,960 --> 00:22:05,080 Speaker 4: banks don't have the same brick and water expenses as 491 00:22:05,280 --> 00:22:08,560 Speaker 4: regular traditional banks do. So it's always good to have 492 00:22:08,760 --> 00:22:11,800 Speaker 4: online bank for the higher interest rate. But are there 493 00:22:11,840 --> 00:22:14,560 Speaker 4: any ones that in particular right now that's paying higher 494 00:22:15,080 --> 00:22:16,159 Speaker 4: interest rates than others? 495 00:22:17,640 --> 00:22:20,080 Speaker 5: There was, so here's being like one. I'm like these 496 00:22:20,080 --> 00:22:22,880 Speaker 5: banks will pay my bills. People always no, but honestly, 497 00:22:22,920 --> 00:22:26,080 Speaker 5: so the reason why I tell people like I, I'm currently 498 00:22:26,119 --> 00:22:29,360 Speaker 5: with Ally Bank a L L Y right. But here's 499 00:22:29,400 --> 00:22:32,000 Speaker 5: the thing. Ally Bank, back in the day they had 500 00:22:32,080 --> 00:22:35,680 Speaker 5: the best They had the best interest rate. They don't anymore. 501 00:22:36,320 --> 00:22:37,840 Speaker 5: Their interest rate is okay. I think last why I 502 00:22:37,920 --> 00:22:40,240 Speaker 5: check it was like well one point five percent. But 503 00:22:40,280 --> 00:22:42,040 Speaker 5: there are banks out there. There was a Credit Union 504 00:22:42,040 --> 00:22:44,199 Speaker 5: when I looked at Magnifying Money the other day, that 505 00:22:44,320 --> 00:22:48,320 Speaker 5: was given two percent. So I definitely say go for 506 00:22:48,359 --> 00:22:50,240 Speaker 5: the bank that's giving the highest interust rate. There's also 507 00:22:51,119 --> 00:22:53,359 Speaker 5: Goldman Sacks has a has a bank account called like 508 00:22:53,440 --> 00:22:57,040 Speaker 5: Marcus my Goldman Sachs. You know, that's another one. So 509 00:22:57,720 --> 00:23:00,840 Speaker 5: you know, I say that there isn't a best bank. 510 00:23:01,160 --> 00:23:03,240 Speaker 5: If the bank is FDIC insured and they're paying you 511 00:23:03,280 --> 00:23:06,280 Speaker 5: the highest interest rate, that's the best bank. Like I said, 512 00:23:06,280 --> 00:23:08,520 Speaker 5: I like Ally but I'm only there now because I 513 00:23:08,520 --> 00:23:11,159 Speaker 5: signed out with them originally. But best believed. Go with 514 00:23:11,240 --> 00:23:13,159 Speaker 5: the coins are you don't have to be loyal to 515 00:23:13,200 --> 00:23:16,320 Speaker 5: your bank. They're not loyal to you, you know, go 516 00:23:16,480 --> 00:23:18,280 Speaker 5: with who's give you them coins. Yeah. 517 00:23:18,480 --> 00:23:20,320 Speaker 2: One of the things you said about having a joint account. 518 00:23:20,359 --> 00:23:21,199 Speaker 3: You know I can attest to. 519 00:23:21,280 --> 00:23:24,399 Speaker 2: I think it's a great idea, especially for married couples. 520 00:23:25,119 --> 00:23:27,879 Speaker 2: I heard you preach about prepared to invest, right, So 521 00:23:27,880 --> 00:23:29,480 Speaker 2: if you have that a joint account, what is something 522 00:23:29,520 --> 00:23:31,760 Speaker 2: that couples could think about investing? 523 00:23:32,720 --> 00:23:36,359 Speaker 5: So this is great. So people ask me, like, here's 524 00:23:36,359 --> 00:23:38,679 Speaker 5: the steps to prepare to invest so you don't have 525 00:23:38,720 --> 00:23:41,159 Speaker 5: to wait to invest for retirement. So to be clear, 526 00:23:41,560 --> 00:23:44,679 Speaker 5: when I say retirement is an investment, the purpose of 527 00:23:44,720 --> 00:23:46,720 Speaker 5: retirement is not so you're going You're not gonna live 528 00:23:46,760 --> 00:23:49,960 Speaker 5: on no private island in retirement unless you're living on 529 00:23:49,960 --> 00:23:53,280 Speaker 5: a private island now. Retirement is so you can maintain 530 00:23:53,359 --> 00:23:57,000 Speaker 5: your current lifestyle. If you set aside twelve to fifteen 531 00:23:57,040 --> 00:24:00,560 Speaker 5: percent of your income now your gross income now, and 532 00:24:00,600 --> 00:24:03,399 Speaker 5: that's all you ever do. What that will inability to 533 00:24:03,440 --> 00:24:06,240 Speaker 5: do is maintain your current lifestyle. So if you don't 534 00:24:06,280 --> 00:24:08,000 Speaker 5: see palm trees next to you now, you ain't gonna 535 00:24:08,000 --> 00:24:11,000 Speaker 5: see palm trees when you eighty, right, So then so 536 00:24:11,000 --> 00:24:13,080 Speaker 5: if you do that first and foremost, because you must 537 00:24:13,119 --> 00:24:16,040 Speaker 5: set aside for your future self and it's your younger 538 00:24:16,040 --> 00:24:18,000 Speaker 5: self job to look after your future self. So that 539 00:24:18,040 --> 00:24:21,680 Speaker 5: comes first. Then after you're doing that, then you have 540 00:24:21,800 --> 00:24:24,640 Speaker 5: to have a budget, right, you have to have some 541 00:24:24,680 --> 00:24:28,600 Speaker 5: sort of physical plan of what your money is doing. 542 00:24:28,760 --> 00:24:31,120 Speaker 5: This much is going to build, this much is going 543 00:24:31,119 --> 00:24:34,199 Speaker 5: to spend him something. So that's step two. Do you 544 00:24:34,240 --> 00:24:35,879 Speaker 5: have a budget? Check before people say or I want 545 00:24:35,880 --> 00:24:38,919 Speaker 5: to invest, I'm like, slow down, slow down, Sun, You're 546 00:24:38,960 --> 00:24:41,119 Speaker 5: killing them. Who's filling them? What I obtained? You didn't not 547 00:24:41,240 --> 00:24:46,640 Speaker 5: have bods? Right, So that's too. Do you have a budget? Great? Now? 548 00:24:47,480 --> 00:24:52,240 Speaker 5: Step number three? Right, do you have savings? Right? So, 549 00:24:52,680 --> 00:24:55,760 Speaker 5: do you have emergency savings at minimum minimum minum during 550 00:24:55,760 --> 00:24:58,600 Speaker 5: the recession I say six months. During a nonversession, I 551 00:24:58,600 --> 00:25:01,959 Speaker 5: say at least three months of your noodle budget? Meaning 552 00:25:02,040 --> 00:25:04,800 Speaker 5: do you have three months of your essential bills saved? 553 00:25:05,000 --> 00:25:08,480 Speaker 5: Because we already talked about if you were to lose 554 00:25:08,480 --> 00:25:10,000 Speaker 5: your job, you're gonna drop down to get your noodle on. 555 00:25:10,040 --> 00:25:11,720 Speaker 5: You're not gonna be living at the same You're not 556 00:25:11,720 --> 00:25:13,360 Speaker 5: gonna be living at your three thousand dollar bus. You're 557 00:25:13,359 --> 00:25:15,159 Speaker 5: gonna be living at your twenty five hundred dollars budget. 558 00:25:15,440 --> 00:25:17,320 Speaker 5: So do you have at least three months of your 559 00:25:17,359 --> 00:25:20,639 Speaker 5: noodle budget saved? That's important because that is going to 560 00:25:20,680 --> 00:25:22,840 Speaker 5: help you if times get rough and tough. Do you 561 00:25:22,880 --> 00:25:27,280 Speaker 5: have that great? Then number four, do you have high 562 00:25:27,320 --> 00:25:32,120 Speaker 5: interest debt? Meaning how are you going to invest when 563 00:25:32,119 --> 00:25:36,480 Speaker 5: you owe visa at eighteen nineteen twenty five thirty percent? 564 00:25:37,280 --> 00:25:40,720 Speaker 5: Do you think you're gonna get a return of fifteen thirteen? 565 00:25:41,240 --> 00:25:44,879 Speaker 5: You know, thirty percent? No? On average, the market yields 566 00:25:44,880 --> 00:25:47,280 Speaker 5: about seven to eight percent a year. So what that 567 00:25:47,320 --> 00:25:51,240 Speaker 5: means is you put your money in the market, on average, 568 00:25:51,359 --> 00:25:54,400 Speaker 5: you're going to get back eight cents. Let's just say, 569 00:25:55,200 --> 00:25:58,600 Speaker 5: but because you have credit card debt, you're losing eighteen 570 00:25:58,800 --> 00:26:03,160 Speaker 5: cents or year. So you make it eight cents and 571 00:26:03,200 --> 00:26:05,800 Speaker 5: losing eighteen cents. The best thing you can do is 572 00:26:05,920 --> 00:26:08,080 Speaker 5: pay off the credit card debt, the high interest credit 573 00:26:08,160 --> 00:26:10,919 Speaker 5: card debt, because you're losing more than you're likely to 574 00:26:11,080 --> 00:26:13,679 Speaker 5: gain in the market. So before you start investing, you 575 00:26:13,720 --> 00:26:16,639 Speaker 5: and your boo like, get rid of that high interest 576 00:26:16,680 --> 00:26:19,320 Speaker 5: credit card debt first and foremost. So that's four. So 577 00:26:19,440 --> 00:26:21,680 Speaker 5: now you've done all those four things. You feeling cute, okay, 578 00:26:21,720 --> 00:26:24,840 Speaker 5: you feeling spicy. Now we can leap into investing for wealth. 579 00:26:25,400 --> 00:26:28,760 Speaker 5: So investing for wealth if you are a couple, if 580 00:26:28,800 --> 00:26:30,239 Speaker 5: you don't know how to do nothing else, like, you know, 581 00:26:30,240 --> 00:26:31,800 Speaker 5: so most people are like they're not really willing to 582 00:26:31,840 --> 00:26:34,440 Speaker 5: do like everybody wants to like trade options. They don't 583 00:26:34,440 --> 00:26:35,679 Speaker 5: even know what that is. They want to, you know, 584 00:26:35,760 --> 00:26:37,720 Speaker 5: everybody wants to buy stock. Then you bought Delta. How's 585 00:26:37,760 --> 00:26:38,720 Speaker 5: that working out for you right now? 586 00:26:38,840 --> 00:26:39,640 Speaker 3: How's Delta doing? 587 00:26:39,920 --> 00:26:43,560 Speaker 5: It's doing terrible. I can tell you because I have Delta, 588 00:26:43,600 --> 00:26:45,560 Speaker 5: and so most people want to do that. But truth is, 589 00:26:45,600 --> 00:26:47,520 Speaker 5: most people are not willing to do the work for investing. 590 00:26:47,560 --> 00:26:50,840 Speaker 5: That's okay, So this is what I tell people that instead, 591 00:26:51,320 --> 00:26:55,919 Speaker 5: you can invest in a mutual fund. I prefer target 592 00:26:56,000 --> 00:26:59,600 Speaker 5: date funds because it's like super super handholding. A target 593 00:26:59,680 --> 00:27:04,040 Speaker 5: date fun is a mutual fund that you pick the 594 00:27:04,040 --> 00:27:06,119 Speaker 5: target date the date you want to pull out that money. 595 00:27:06,480 --> 00:27:10,200 Speaker 5: So typically most target date funds are the date that 596 00:27:10,240 --> 00:27:11,680 Speaker 5: you want to pull out that money. Typically is the 597 00:27:11,760 --> 00:27:14,200 Speaker 5: date that you want to retire, So you might say 598 00:27:14,240 --> 00:27:17,040 Speaker 5: twenty fifty, twenty forty five, twenty thirty five. They're usually 599 00:27:17,080 --> 00:27:19,320 Speaker 5: five years apart. So you're going to pick a mutual 600 00:27:19,359 --> 00:27:22,840 Speaker 5: fund that's a target date fund, right, a mutual fund. 601 00:27:22,880 --> 00:27:24,760 Speaker 5: Just so you know, for those listening I'm sure you know, 602 00:27:24,840 --> 00:27:29,320 Speaker 5: but you never know. It's a collection of investments. I 603 00:27:29,400 --> 00:27:31,600 Speaker 5: like mutual funds that tend to be index funds, so 604 00:27:31,640 --> 00:27:33,720 Speaker 5: they follow a particular index, like the S and P 605 00:27:33,840 --> 00:27:36,960 Speaker 5: five hundred, which is basically like the market. So that 606 00:27:37,000 --> 00:27:40,960 Speaker 5: means you're invested in a mutual fund that's an index fund, 607 00:27:41,440 --> 00:27:45,000 Speaker 5: and it follows the market and your money. The reason 608 00:27:45,040 --> 00:27:47,639 Speaker 5: why I like target date funds is that it rebalances 609 00:27:47,960 --> 00:27:50,600 Speaker 5: like a true investor knows that they have to shift 610 00:27:50,800 --> 00:27:54,160 Speaker 5: based upon how life like where they are in life. 611 00:27:54,320 --> 00:27:56,680 Speaker 5: Most people don't do that, so a target date fund 612 00:27:56,680 --> 00:27:58,760 Speaker 5: does it for you. A target date fund says, you 613 00:27:58,800 --> 00:28:00,840 Speaker 5: pick the target date of twenty fifty. It is now 614 00:28:00,880 --> 00:28:03,520 Speaker 5: twenty twenty. We have thirty years. We got time, so 615 00:28:03,560 --> 00:28:06,280 Speaker 5: we the target day fund is going to be invested 616 00:28:06,320 --> 00:28:09,280 Speaker 5: more aggressively because you have thirty years. The closer you 617 00:28:09,359 --> 00:28:14,760 Speaker 5: get to twenty fifty, the more conservative automatically your investment 618 00:28:14,840 --> 00:28:17,280 Speaker 5: is going to be invested because the target day fund 619 00:28:17,320 --> 00:28:20,560 Speaker 5: is aware of twenty fifty is coming up. So the 620 00:28:20,600 --> 00:28:23,160 Speaker 5: closer we get if it's twenty forty nine, then you're 621 00:28:23,280 --> 00:28:27,320 Speaker 5: super You might be invested in all cash accounts in bonds, 622 00:28:27,520 --> 00:28:30,639 Speaker 5: super super conservative investments, right, so you don't not do 623 00:28:30,640 --> 00:28:33,800 Speaker 5: anything else. You can buy mutual fund that that's that's 624 00:28:34,160 --> 00:28:35,919 Speaker 5: that follows an index fund like I said, the S 625 00:28:35,960 --> 00:28:38,960 Speaker 5: and P five hundred. Typically you can you can follow 626 00:28:39,000 --> 00:28:41,160 Speaker 5: you look for a mutual fund. That's that's called a 627 00:28:41,200 --> 00:28:46,600 Speaker 5: total market fund, meaning that your fund mimics a particular market, 628 00:28:46,640 --> 00:28:48,360 Speaker 5: like I said the S and P five hundred one hundred. 629 00:28:48,400 --> 00:28:50,600 Speaker 5: So when the when the market goes up, your money 630 00:28:50,600 --> 00:28:52,480 Speaker 5: goes up. When the market goes down, your money goes down. 631 00:28:52,680 --> 00:28:55,480 Speaker 5: But we like we, like I mentioned before, on average, 632 00:28:55,880 --> 00:28:59,800 Speaker 5: the market yields about seven to eight percent a year. 633 00:29:00,120 --> 00:29:02,760 Speaker 5: You will you will over the over the next thirty years, 634 00:29:02,800 --> 00:29:05,480 Speaker 5: you're gonna see about a seven eight percent game, which 635 00:29:05,520 --> 00:29:07,680 Speaker 5: is great, you know, even like that's for people who 636 00:29:07,680 --> 00:29:08,959 Speaker 5: are like I, don't want to do nothing else like 637 00:29:09,160 --> 00:29:12,360 Speaker 5: And so when you're looking for a target date fund 638 00:29:12,480 --> 00:29:15,360 Speaker 5: or mutual fund, you're looking for something called the expense ratio, 639 00:29:15,640 --> 00:29:18,840 Speaker 5: and that is the fee that that fund is charging 640 00:29:18,880 --> 00:29:21,680 Speaker 5: you the percentage of the money that you have invested 641 00:29:21,760 --> 00:29:24,400 Speaker 5: with that fund. And so right now, like a Vanguard, 642 00:29:24,440 --> 00:29:26,960 Speaker 5: they have one of the lowest expense ratio. So the 643 00:29:27,000 --> 00:29:31,160 Speaker 5: brokers accounts that have mutual funds and target date funds, 644 00:29:31,160 --> 00:29:35,400 Speaker 5: and these total market funds are like Vanguard, Fidality, child Swab. 645 00:29:35,840 --> 00:29:39,120 Speaker 5: So you're gonna google expense ratio for First Fidelity, expense 646 00:29:39,240 --> 00:29:41,720 Speaker 5: ratio for child Swab. I think, like, right now, it's 647 00:29:41,760 --> 00:29:45,000 Speaker 5: like the target fund for a total market target date 648 00:29:45,000 --> 00:29:48,680 Speaker 5: fund for Vanguard. Right now, it's like point zero six percent, 649 00:29:48,720 --> 00:29:51,920 Speaker 5: which is great, right, not even point zero zero six percent, 650 00:29:51,920 --> 00:29:54,480 Speaker 5: which is like something ridiculous, like a piece of a 651 00:29:54,520 --> 00:29:56,960 Speaker 5: piece of a piece of piece of a penny. And 652 00:29:57,040 --> 00:30:00,320 Speaker 5: so that's great because the average financial advisor is going 653 00:30:00,400 --> 00:30:03,080 Speaker 5: to charge you one percent of the assets of your 654 00:30:03,200 --> 00:30:05,120 Speaker 5: of your money that they've invested. So the financial advisor 655 00:30:05,160 --> 00:30:07,400 Speaker 5: is gonna charge you one percent. Bandguard's going to charge 656 00:30:07,400 --> 00:30:09,680 Speaker 5: you a piece of a piece of a piece of 657 00:30:09,680 --> 00:30:11,440 Speaker 5: one percent, so you get to keep more of your money. 658 00:30:11,720 --> 00:30:16,600 Speaker 5: Fees are the biggest hindrance to earning money. You know, 659 00:30:16,640 --> 00:30:21,360 Speaker 5: I'm not anti financial advisor, but you're spending a lot 660 00:30:21,360 --> 00:30:24,360 Speaker 5: of money sometimes for them to do automatically what some 661 00:30:24,400 --> 00:30:26,440 Speaker 5: of these automatic funds can do. Unless you have other 662 00:30:26,440 --> 00:30:28,320 Speaker 5: things your financial advisor's doing for you. If there's just 663 00:30:28,320 --> 00:30:31,000 Speaker 5: investing your money bruh sis. Just put it in a 664 00:30:31,560 --> 00:30:34,360 Speaker 5: target day fund and let the fund automatically balance for 665 00:30:34,440 --> 00:30:36,560 Speaker 5: you and you can keep most of your money. So 666 00:30:36,720 --> 00:30:38,840 Speaker 5: if you're investing with your significant other, what I love 667 00:30:38,920 --> 00:30:40,760 Speaker 5: is that you can literally say, hey, Vanguard, we're going 668 00:30:40,840 --> 00:30:43,680 Speaker 5: to open up a mutual fund. Well prefer a target 669 00:30:43,760 --> 00:30:46,280 Speaker 5: day fund that's invested in an index. So do you 670 00:30:46,320 --> 00:30:48,600 Speaker 5: have like I know, Vanguard literally has one called their 671 00:30:48,640 --> 00:30:50,840 Speaker 5: total market fund, or you have a total market fund, Okay, 672 00:30:50,920 --> 00:30:53,000 Speaker 5: open it up. We're gonna putting two hundred dollars a month. 673 00:30:53,640 --> 00:30:57,040 Speaker 5: Just you can have that transferred automatically from your savings account. 674 00:30:57,040 --> 00:30:59,240 Speaker 5: Transfer your two hundred bucks a month because you already 675 00:30:59,240 --> 00:31:01,600 Speaker 5: have your three months of savings trets for your three 676 00:31:01,680 --> 00:31:03,320 Speaker 5: hundred bucks a month or two hundred bucks a month 677 00:31:03,320 --> 00:31:05,280 Speaker 5: into that account and let it grow. You kind of 678 00:31:05,320 --> 00:31:07,160 Speaker 5: set it and set I forget it. So that's like 679 00:31:07,200 --> 00:31:10,240 Speaker 5: the easiest possible way to start investing. If you do that, 680 00:31:10,320 --> 00:31:12,800 Speaker 5: you will be better off than ninety nine or nine 681 00:31:12,840 --> 00:31:15,480 Speaker 5: point most people. And just keep it really simple. I 682 00:31:15,480 --> 00:31:18,480 Speaker 5: think investing should be really simple unless like you really 683 00:31:18,520 --> 00:31:21,120 Speaker 5: are interested in learning how to buy individual stocks, but 684 00:31:21,240 --> 00:31:23,240 Speaker 5: you have to when it comes to investing, like in 685 00:31:23,240 --> 00:31:26,160 Speaker 5: the traditional sense and like the market, keep it simple. 686 00:31:26,400 --> 00:31:28,520 Speaker 5: And then you can also invest by starting a business. 687 00:31:28,560 --> 00:31:31,160 Speaker 5: You can invest by writing a book. There's other ways 688 00:31:31,160 --> 00:31:33,640 Speaker 5: to invest. You can invest by real estate like I 689 00:31:33,680 --> 00:31:36,360 Speaker 5: do all those things. I have residual investments where I 690 00:31:36,360 --> 00:31:38,520 Speaker 5: have books that pay me a few thousand dollars a 691 00:31:38,560 --> 00:31:40,680 Speaker 5: month from books I've written years ago. I have a 692 00:31:40,720 --> 00:31:43,280 Speaker 5: business that you know, that's an investment as well. I 693 00:31:43,320 --> 00:31:45,480 Speaker 5: put money into that business and it yields money back. 694 00:31:46,040 --> 00:31:48,400 Speaker 5: I also have real estate. You know, even in your 695 00:31:48,400 --> 00:31:50,480 Speaker 5: primary your primary residence, you have to think about that 696 00:31:50,480 --> 00:31:53,320 Speaker 5: as an investment, and you have to understand that the 697 00:31:53,400 --> 00:31:57,200 Speaker 5: key with investing is you should make money on the buy, 698 00:31:58,320 --> 00:32:02,200 Speaker 5: not necessarily the seal. Meaning this is then if you 699 00:32:02,240 --> 00:32:04,440 Speaker 5: always make sure you make money on the buy, you 700 00:32:04,520 --> 00:32:07,880 Speaker 5: never lose. But it's time to sell. So bought this 701 00:32:07,960 --> 00:32:11,600 Speaker 5: house that living in now cash SLFE flex but it 702 00:32:11,680 --> 00:32:14,680 Speaker 5: was a foreclosure so it was worth at the time 703 00:32:14,680 --> 00:32:17,160 Speaker 5: maybe three twenty because it was kind of like a 704 00:32:17,200 --> 00:32:20,280 Speaker 5: little bit beat up, and we bought it for one eighty. 705 00:32:20,760 --> 00:32:23,800 Speaker 5: So we made money on a buy even if nothing 706 00:32:23,800 --> 00:32:25,240 Speaker 5: else we didn't fix it up. We're like, you know, 707 00:32:25,240 --> 00:32:27,200 Speaker 5: we tired, we ran out of money to fix it up. 708 00:32:27,240 --> 00:32:29,000 Speaker 5: We bought it for one eighty a house that's worth 709 00:32:29,040 --> 00:32:31,440 Speaker 5: three twenty, So we made money on the buy, no 710 00:32:31,480 --> 00:32:33,440 Speaker 5: matter what. So even now they're talking about the market 711 00:32:33,480 --> 00:32:35,640 Speaker 5: it's gonna drop, I'm not worried about it. Would have 712 00:32:35,680 --> 00:32:37,400 Speaker 5: to drop a whole hell of a lot for a 713 00:32:37,440 --> 00:32:40,280 Speaker 5: house worth three twenty to drop down to one eighty, 714 00:32:40,640 --> 00:32:45,120 Speaker 5: you know, exactly, so we so then we then we 715 00:32:45,200 --> 00:32:47,120 Speaker 5: renovated the place. So now I just got the house 716 00:32:47,120 --> 00:32:49,520 Speaker 5: of praise. We renovated it. The house is now worth 717 00:32:49,960 --> 00:32:52,840 Speaker 5: three ninety. So it's like even if we never renovated, 718 00:32:52,920 --> 00:32:55,280 Speaker 5: we was gonna win. So same thing with stocks, you 719 00:32:55,320 --> 00:32:57,720 Speaker 5: know that, like you make money on the buy, you know, 720 00:32:58,600 --> 00:33:00,840 Speaker 5: not necessarily, like you don't want to have to wait 721 00:33:00,840 --> 00:33:02,280 Speaker 5: for the out. But not enough people do that. They 722 00:33:02,320 --> 00:33:04,720 Speaker 5: want to jump into the market right now because you know, 723 00:33:05,160 --> 00:33:08,400 Speaker 5: your your neighbor's like, oh I bought, Oh you're not in, 724 00:33:08,480 --> 00:33:11,400 Speaker 5: but yeah, I me h, oh little bitcoin. Meanwhile, you 725 00:33:11,440 --> 00:33:13,720 Speaker 5: don't know nothing, know what they're talking about. Don't jump 726 00:33:13,760 --> 00:33:15,440 Speaker 5: in and lose your money. Like if you're not going 727 00:33:15,440 --> 00:33:17,600 Speaker 5: to do the research, you're going to be broke. Get 728 00:33:17,640 --> 00:33:20,000 Speaker 5: you an index fund, you know, invest in things that 729 00:33:20,040 --> 00:33:22,280 Speaker 5: you're willing to do the research on, or invest in 730 00:33:22,360 --> 00:33:25,600 Speaker 5: semi automated, super simple investments, and you'll be fine. You 731 00:33:25,600 --> 00:33:28,360 Speaker 5: don't have to have your investments so honestly largely be boring. 732 00:33:28,400 --> 00:33:30,080 Speaker 5: You don't have to have the hottest stock. 733 00:33:30,680 --> 00:33:34,080 Speaker 6: So, Coach, the energy out there felt different. What changed 734 00:33:34,120 --> 00:33:34,840 Speaker 6: for the team today? 735 00:33:34,960 --> 00:33:37,120 Speaker 7: It was the new game day scratches from the California 736 00:33:37,160 --> 00:33:38,160 Speaker 7: Lottery players. 737 00:33:38,200 --> 00:33:40,880 Speaker 3: Everything. Those games sent the team's energy through the roof. 738 00:33:40,960 --> 00:33:42,920 Speaker 6: Are you saying it was the off field play that 739 00:33:42,960 --> 00:33:44,120 Speaker 6: made the difference on the field. 740 00:33:44,200 --> 00:33:46,960 Speaker 7: Hey, little play makes your day, and today it made 741 00:33:46,960 --> 00:33:49,320 Speaker 7: the game. That's all for now, Coach. 742 00:33:49,200 --> 00:33:49,880 Speaker 5: One more question. 743 00:33:50,040 --> 00:33:52,880 Speaker 8: Played the new Los Angeles Chargers, San Francisco forty nine 744 00:33:52,960 --> 00:33:56,000 Speaker 8: ers and Los Angeles Rams scratchers from the California Lottery. 745 00:33:56,120 --> 00:33:59,200 Speaker 8: A little play can make your day. Peace may responsible. 746 00:33:59,200 --> 00:34:00,760 Speaker 8: You must be eighteen years old older to purchase plate 747 00:34:00,800 --> 00:34:01,080 Speaker 8: or claim