1 00:00:02,560 --> 00:00:06,040 Speaker 1: It's time for the b a qa A the b 2 00:00:06,240 --> 00:00:10,360 Speaker 1: a qa What to say the ba qa with Manday 3 00:00:10,520 --> 00:00:15,640 Speaker 1: the ba qa A. Hello ba Fam, I am back 4 00:00:15,680 --> 00:00:19,000 Speaker 1: to answer more of your questions on this week's b Aqa. 5 00:00:19,320 --> 00:00:23,800 Speaker 1: This question comes from listener Chelsea. Chelsea says, hey, ladies, 6 00:00:23,840 --> 00:00:26,200 Speaker 1: I am twenty six years old and currently working in 7 00:00:26,280 --> 00:00:30,320 Speaker 1: my first full time Big Girl career JOm. I'm working 8 00:00:30,360 --> 00:00:33,400 Speaker 1: on transitioning to another job now. I have good credit 9 00:00:33,440 --> 00:00:35,440 Speaker 1: for my age and I make good money, but I'm 10 00:00:35,479 --> 00:00:38,680 Speaker 1: always working on a bigger bag. I have my own 11 00:00:38,720 --> 00:00:42,000 Speaker 1: small business and very few bills, but I want to 12 00:00:42,000 --> 00:00:44,880 Speaker 1: hear from you, ladies. What would you tell your twenty 13 00:00:44,960 --> 00:00:48,279 Speaker 1: something self, knowing everything that you know now? I am 14 00:00:48,400 --> 00:00:51,400 Speaker 1: very I'm a very proactive person, so I am working 15 00:00:51,440 --> 00:00:54,440 Speaker 1: on getting into personal finance more and planning for the future. 16 00:00:55,080 --> 00:00:59,000 Speaker 1: I love your show and I appreciate your advice. You know, Chelsea, 17 00:00:59,200 --> 00:01:01,120 Speaker 1: this question came out a really good time for me 18 00:01:01,240 --> 00:01:04,880 Speaker 1: because I was just sitting the other day in my 19 00:01:05,000 --> 00:01:07,440 Speaker 1: car on the way to pick up dinner or something 20 00:01:07,440 --> 00:01:10,240 Speaker 1: for the family. I sometimes give myself little errands just 21 00:01:10,280 --> 00:01:13,040 Speaker 1: so I can go be alone in the car. Anyone 22 00:01:13,040 --> 00:01:15,679 Speaker 1: out there also do that even if I sit in 23 00:01:15,720 --> 00:01:17,760 Speaker 1: the driveway for like an extra ten minutes when I 24 00:01:17,800 --> 00:01:20,800 Speaker 1: get back, like that is precious quiet time for me. 25 00:01:21,560 --> 00:01:24,520 Speaker 1: But I was reflecting on my drive and I was 26 00:01:24,560 --> 00:01:27,840 Speaker 1: thinking about my three bees, the book, deal, the Beyonce, 27 00:01:27,959 --> 00:01:32,360 Speaker 1: the baby, and I really, yes, I'm proud of myself 28 00:01:32,360 --> 00:01:35,760 Speaker 1: that I accomplished those things this year. But I looked 29 00:01:35,800 --> 00:01:37,720 Speaker 1: back and I was like, you know who accomplished that, 30 00:01:38,720 --> 00:01:42,240 Speaker 1: Baby Mandy when she was twenty four and opened her 31 00:01:42,280 --> 00:01:45,480 Speaker 1: first four oh one K and started to invest. She's 32 00:01:45,560 --> 00:01:48,480 Speaker 1: the one I can thank for the ability that I 33 00:01:48,480 --> 00:01:52,600 Speaker 1: have had to build this life for myself, and she's 34 00:01:52,680 --> 00:01:57,320 Speaker 1: the hero of my story. I'm getting to enjoy the 35 00:01:57,360 --> 00:02:01,040 Speaker 1: fruits of baby Mandy's labor. And as I was thinking 36 00:02:01,080 --> 00:02:03,320 Speaker 1: about that, God, it made me want to just like 37 00:02:03,400 --> 00:02:06,280 Speaker 1: reach back in time and give her such a big 38 00:02:06,400 --> 00:02:09,280 Speaker 1: hug because she worked so hard. I'm still working hard 39 00:02:09,360 --> 00:02:12,680 Speaker 1: right and in another twenty years, ten years, I might 40 00:02:12,720 --> 00:02:15,320 Speaker 1: be looking back and saying, ooh, thirty six year old Mandy. 41 00:02:15,480 --> 00:02:18,080 Speaker 1: She was my queen. She did it all for me. 42 00:02:18,760 --> 00:02:20,600 Speaker 1: But I will always have a soft spot in my 43 00:02:20,919 --> 00:02:23,480 Speaker 1: soft spot in my heart for the baby Mandy of 44 00:02:23,520 --> 00:02:29,079 Speaker 1: my early twenties because when there are so many reasons, 45 00:02:29,120 --> 00:02:33,920 Speaker 1: distractions of opportunities to go a different way, to follow 46 00:02:34,000 --> 00:02:37,040 Speaker 1: the social media pressure to put on a big show, 47 00:02:37,160 --> 00:02:40,760 Speaker 1: go on vacations, you know, show off that you're doing 48 00:02:40,800 --> 00:02:43,320 Speaker 1: well and you got no kids and you're having fun, 49 00:02:44,000 --> 00:02:46,680 Speaker 1: and try to keep up with you know, the joneses. 50 00:02:46,760 --> 00:02:50,880 Speaker 1: At that age, Baby Mandy made a different decision and 51 00:02:50,919 --> 00:02:56,920 Speaker 1: decided I'm going to keep lifestyle inflation out of my picture. 52 00:02:57,080 --> 00:03:00,400 Speaker 1: And lifestyle inflation, as I've said, lifestyle creep another word 53 00:03:00,440 --> 00:03:03,680 Speaker 1: for it, that is like the silent killer of wealth. 54 00:03:04,480 --> 00:03:08,560 Speaker 1: I promise you so many people could be genuinely debt free, 55 00:03:08,600 --> 00:03:12,680 Speaker 1: wealthy well into like early like twenties and thirties if 56 00:03:12,680 --> 00:03:16,680 Speaker 1: they just could beat down lifestyle inflation. So if I 57 00:03:16,680 --> 00:03:20,040 Speaker 1: could go back, I would say, this is the best 58 00:03:20,040 --> 00:03:22,760 Speaker 1: thing that you did, baby girl. Like the fact that 59 00:03:22,960 --> 00:03:25,919 Speaker 1: when you ten x your net worth and you ten 60 00:03:26,040 --> 00:03:29,640 Speaker 1: xt your income by quitting jobs and learning how to 61 00:03:29,680 --> 00:03:33,160 Speaker 1: be a badass negotiator and getting those big raises as 62 00:03:33,160 --> 00:03:36,200 Speaker 1: you jump from job to job and move through your career, 63 00:03:36,600 --> 00:03:39,880 Speaker 1: you didn't let the extra earnings drive you to start 64 00:03:39,920 --> 00:03:43,040 Speaker 1: spending more in places that didn't really like they weren't 65 00:03:43,080 --> 00:03:45,320 Speaker 1: a huge value to you. And by that I mean 66 00:03:45,360 --> 00:03:48,480 Speaker 1: I wasn't going out and upgrading my apartment to get 67 00:03:48,520 --> 00:03:52,320 Speaker 1: the better you know, the better location, the luxury unit 68 00:03:52,440 --> 00:03:56,280 Speaker 1: with the washer dryer. That living in New York City, 69 00:03:56,360 --> 00:03:59,040 Speaker 1: that's kind of like a status symbol, like, oh, you 70 00:03:59,040 --> 00:04:01,760 Speaker 1: have a washer dryer in your building or in your unit. 71 00:04:02,160 --> 00:04:04,080 Speaker 1: Like first of all, where do you live Jersey, because 72 00:04:04,120 --> 00:04:07,920 Speaker 1: that's not happening in Manhattan. But unless you got real, real, real, 73 00:04:07,920 --> 00:04:11,560 Speaker 1: real big money. But you want to improve your lifestyle. 74 00:04:11,760 --> 00:04:14,560 Speaker 1: You want to go out more for drinks after work, 75 00:04:14,640 --> 00:04:17,279 Speaker 1: You want to you want to go on those vacations, 76 00:04:17,320 --> 00:04:19,440 Speaker 1: you know, you want to go to the Hamptons like 77 00:04:19,480 --> 00:04:22,479 Speaker 1: you see and TV and sex and the city you know, 78 00:04:22,680 --> 00:04:24,960 Speaker 1: in the summertime and escape the city and all of that. 79 00:04:25,080 --> 00:04:26,800 Speaker 2: And you want to be able to. 80 00:04:27,360 --> 00:04:30,440 Speaker 1: Do the big New Year's Eve celebrations and all the 81 00:04:30,480 --> 00:04:33,120 Speaker 1: things that you know, think about when you associate with 82 00:04:33,200 --> 00:04:34,919 Speaker 1: New York and what you do here and being in 83 00:04:34,960 --> 00:04:37,880 Speaker 1: your twenties and all of that. But I really got 84 00:04:37,920 --> 00:04:40,080 Speaker 1: quiet with myself in my twenties and I was like, 85 00:04:41,000 --> 00:04:45,520 Speaker 1: I value financial freedom. I never want to go back 86 00:04:45,520 --> 00:04:49,520 Speaker 1: to that fear and anxiety that I felt after I 87 00:04:49,600 --> 00:04:51,440 Speaker 1: moved to New York and I got let go from 88 00:04:51,440 --> 00:04:53,360 Speaker 1: my very first job. I was laid off like three 89 00:04:53,360 --> 00:04:56,120 Speaker 1: months after I joined back in twenty ten, and I 90 00:04:56,200 --> 00:04:58,320 Speaker 1: never wanted to feel like that again. And I said, 91 00:04:58,360 --> 00:05:03,120 Speaker 1: I value feeling safe. I value feeling free to make 92 00:05:03,200 --> 00:05:05,760 Speaker 1: decisions that I want to make, not because I'm desperate 93 00:05:05,800 --> 00:05:09,600 Speaker 1: to find a job to keep my lifestyle. And that 94 00:05:09,720 --> 00:05:12,080 Speaker 1: is what I would tell any twenty something today is 95 00:05:12,960 --> 00:05:16,760 Speaker 1: start to get really clear on what you value, why 96 00:05:16,960 --> 00:05:21,520 Speaker 1: you are making the choices you're making today financially, and 97 00:05:21,720 --> 00:05:23,440 Speaker 1: how that's going to get closer to the goals that 98 00:05:23,560 --> 00:05:26,720 Speaker 1: you value. So for me, I was like, yes, it's 99 00:05:26,839 --> 00:05:28,479 Speaker 1: nice to go out. And don't get me wrong, I 100 00:05:28,520 --> 00:05:31,279 Speaker 1: had hell of fun in my twenties. I had a 101 00:05:31,320 --> 00:05:35,799 Speaker 1: big ass wedding that I paid for cash, thirty thousand 102 00:05:35,839 --> 00:05:39,240 Speaker 1: dollars wedding in Savannah, Georgia that I have no regrets about. 103 00:05:39,480 --> 00:05:41,200 Speaker 1: But I was only able to save up for that 104 00:05:41,240 --> 00:05:43,159 Speaker 1: wedding and I didn't want to take on debt for 105 00:05:43,200 --> 00:05:47,159 Speaker 1: that wedding. By making some serious lifestyle choices to enable me, 106 00:05:47,279 --> 00:05:49,720 Speaker 1: like as I was increasing my income, my husband and 107 00:05:49,760 --> 00:05:52,520 Speaker 1: I moved in with his family. For I think we 108 00:05:52,600 --> 00:05:54,919 Speaker 1: lasted about eight months. It was, you know, did what 109 00:05:54,960 --> 00:05:57,359 Speaker 1: I could with my in laws, my future in laws. 110 00:05:57,640 --> 00:05:59,640 Speaker 1: But we were able to save and set aside cash 111 00:06:00,200 --> 00:06:01,839 Speaker 1: that wedding so that you wouldn't be taking on a 112 00:06:01,839 --> 00:06:03,880 Speaker 1: lot of debt. And that's not the choice that a 113 00:06:03,920 --> 00:06:06,600 Speaker 1: lot of people make when they finally get to you know, 114 00:06:07,000 --> 00:06:08,799 Speaker 1: at the time I was making I had just gotten 115 00:06:08,800 --> 00:06:10,600 Speaker 1: a new job and was making over one hundred and 116 00:06:10,600 --> 00:06:13,960 Speaker 1: fifty thousand dollars a year, and I chose to live 117 00:06:14,000 --> 00:06:16,640 Speaker 1: like a broke like like I did, like I wasn't, 118 00:06:17,000 --> 00:06:18,720 Speaker 1: you know what I mean? And I did it for 119 00:06:18,760 --> 00:06:21,359 Speaker 1: a time so I could give myself something that I valued, 120 00:06:21,640 --> 00:06:25,280 Speaker 1: you know later. So looking back on baby Mandy in 121 00:06:25,320 --> 00:06:27,919 Speaker 1: her twenties, I would say, that's the smartest thing that 122 00:06:28,000 --> 00:06:32,000 Speaker 1: she did. So get clear on your values, Chelsea. What 123 00:06:32,279 --> 00:06:33,800 Speaker 1: do you where do you want to see yourself in 124 00:06:33,839 --> 00:06:36,600 Speaker 1: ten years? And what financial choices can you make now 125 00:06:36,640 --> 00:06:39,520 Speaker 1: to get yourself there? So for me, it was about 126 00:06:39,839 --> 00:06:44,560 Speaker 1: keeping my debt low and setting early habits to invest. 127 00:06:44,720 --> 00:06:46,919 Speaker 1: And I didn't focus on how much I was setting aside. 128 00:06:46,960 --> 00:06:49,760 Speaker 1: I just focused on or how sorry I didn't focus 129 00:06:49,760 --> 00:06:52,400 Speaker 1: on how much I was like making in the market. 130 00:06:52,520 --> 00:06:55,320 Speaker 1: I just focused on setting a goal of I'm going 131 00:06:55,400 --> 00:06:59,120 Speaker 1: to be contributing ten percent automatically, and I'm going to 132 00:06:59,160 --> 00:07:01,640 Speaker 1: increase that by one percent each year, and I'm going 133 00:07:01,720 --> 00:07:04,760 Speaker 1: to continue this habit. And the beautiful thing about just 134 00:07:04,839 --> 00:07:07,719 Speaker 1: focusing on the habit of investing and just automating it 135 00:07:07,760 --> 00:07:10,680 Speaker 1: and forgetting it is that as you earn more, like 136 00:07:10,720 --> 00:07:13,040 Speaker 1: you're talking about, I'm working on a bigger bag right now, 137 00:07:13,240 --> 00:07:16,200 Speaker 1: as the bag gets bigger, the cut that you're taking 138 00:07:16,200 --> 00:07:18,320 Speaker 1: for your investments is going to get bigger right along 139 00:07:18,360 --> 00:07:21,920 Speaker 1: with it. And as you grow, you know, get older, 140 00:07:22,040 --> 00:07:25,880 Speaker 1: time goes on, those investments will grow, you know, in shallah, 141 00:07:25,880 --> 00:07:28,600 Speaker 1: hopefully most of the time, they will grow. Right. So, 142 00:07:29,960 --> 00:07:31,840 Speaker 1: if you can just get clear on your values and 143 00:07:31,920 --> 00:07:34,320 Speaker 1: set the habits of saving and investing now, I mean, 144 00:07:34,320 --> 00:07:36,480 Speaker 1: you're already going to be so so far ahead of 145 00:07:36,520 --> 00:07:40,520 Speaker 1: your peers and really stick with those values. And remember, 146 00:07:41,200 --> 00:07:43,680 Speaker 1: like when you start looking and getting tugged in other 147 00:07:43,720 --> 00:07:45,400 Speaker 1: directions and people are trying to get you to do 148 00:07:45,480 --> 00:07:49,480 Speaker 1: this bottomless brunch and take this vacation, like if it's 149 00:07:49,480 --> 00:07:52,520 Speaker 1: not true to you and your goals like get really 150 00:07:52,880 --> 00:07:57,920 Speaker 1: secure and strong in saying no and setting that boundary 151 00:07:58,360 --> 00:08:01,120 Speaker 1: and letting your friends be a part of your life, 152 00:08:01,440 --> 00:08:03,680 Speaker 1: be a part of your life in other ways that 153 00:08:03,760 --> 00:08:05,400 Speaker 1: are of value to you. 154 00:08:05,400 --> 00:08:05,640 Speaker 2: You know. 155 00:08:05,920 --> 00:08:08,600 Speaker 1: For me, I like to take vacations. I like to 156 00:08:08,640 --> 00:08:11,160 Speaker 1: travel with my friends, but I was going to keep 157 00:08:11,160 --> 00:08:12,760 Speaker 1: it small and I was going to go with friends 158 00:08:12,800 --> 00:08:15,240 Speaker 1: who wanted to vacation at my level, you know, who 159 00:08:15,280 --> 00:08:18,760 Speaker 1: weren't going to pressure me into like spending extra for 160 00:08:19,000 --> 00:08:22,880 Speaker 1: first class this, or you know, the luxury villa versus 161 00:08:22,960 --> 00:08:25,240 Speaker 1: the smaller bed and breakfast, you know what I mean. 162 00:08:25,320 --> 00:08:29,720 Speaker 1: So I think that that's also really important is making 163 00:08:29,720 --> 00:08:32,880 Speaker 1: sure that the people you surround yourself with respect your values. 164 00:08:32,880 --> 00:08:34,880 Speaker 1: They don't have to have the same values or want 165 00:08:34,920 --> 00:08:36,600 Speaker 1: the same things you want, but they need to respect 166 00:08:36,679 --> 00:08:39,480 Speaker 1: you and where you're coming from. What I also love 167 00:08:39,480 --> 00:08:42,440 Speaker 1: about you, Chelsea, you personified brown ambition. You got your 168 00:08:42,440 --> 00:08:45,240 Speaker 1: first full time, big, big girl career job that you said, 169 00:08:45,280 --> 00:08:47,880 Speaker 1: but you also have your small your own small business 170 00:08:47,880 --> 00:08:51,800 Speaker 1: on the side, having your own source of independent income. 171 00:08:52,040 --> 00:08:53,480 Speaker 2: Oh baby, Mandy. 172 00:08:53,200 --> 00:08:55,000 Speaker 1: Did this in her twenties and I love her for it. 173 00:08:55,040 --> 00:08:58,720 Speaker 1: She started brand ambition, and you know, obviously went on 174 00:08:58,880 --> 00:09:01,920 Speaker 1: to do other creative endeavors that I'm doing now in 175 00:09:01,960 --> 00:09:05,439 Speaker 1: my thirties. But just starting something in your twenties and 176 00:09:05,480 --> 00:09:07,880 Speaker 1: not thinking about I need to may become a millionaire. 177 00:09:07,920 --> 00:09:10,080 Speaker 1: I need to have this business, you know, get I 178 00:09:10,120 --> 00:09:13,360 Speaker 1: need to become a unicorn billionaire, you know, billion dollar business, 179 00:09:13,400 --> 00:09:16,360 Speaker 1: something like that, but just starting something like there's no 180 00:09:16,440 --> 00:09:18,080 Speaker 1: way you're gonna be able to enjoy the fruits of 181 00:09:18,080 --> 00:09:20,120 Speaker 1: any labor if you never do the labor first, right, 182 00:09:20,160 --> 00:09:22,600 Speaker 1: And sometimes some of us get psyched out by the 183 00:09:22,720 --> 00:09:25,480 Speaker 1: goal that's seeming too large, Like if I start a business, 184 00:09:25,480 --> 00:09:27,319 Speaker 1: it has to be perfect, it has to bring in millions, 185 00:09:27,360 --> 00:09:30,000 Speaker 1: you know. But and then you let that psych yourself 186 00:09:30,000 --> 00:09:32,160 Speaker 1: out and you never start it. But just starting to 187 00:09:32,679 --> 00:09:35,560 Speaker 1: plant the seed of some kind of entrepreneurship in you're 188 00:09:36,520 --> 00:09:39,000 Speaker 1: in your early twenties to bring an additional income for 189 00:09:39,080 --> 00:09:43,440 Speaker 1: yourself that it's going to give you professional resilience, meaning 190 00:09:43,559 --> 00:09:47,120 Speaker 1: your big girl job it doesn't love you back. I 191 00:09:47,200 --> 00:09:49,440 Speaker 1: learned that very early in my twenties. The job does 192 00:09:49,520 --> 00:09:53,040 Speaker 1: not love you back. So having your own source of 193 00:09:53,120 --> 00:09:57,560 Speaker 1: find like financial your own source of income, so that 194 00:09:57,760 --> 00:10:01,520 Speaker 1: you can protect yourself on top of having savings, having 195 00:10:01,600 --> 00:10:03,640 Speaker 1: another source of income that's not tied to your nine 196 00:10:03,720 --> 00:10:06,880 Speaker 1: to five makes you so much more resilient, So I 197 00:10:06,920 --> 00:10:09,600 Speaker 1: think that that's excellent. I would definitely, you know, give 198 00:10:09,640 --> 00:10:12,920 Speaker 1: my baby Mandy in her twenties, a huge, huge round 199 00:10:12,960 --> 00:10:17,240 Speaker 1: of applause for always kind of staying independent and having 200 00:10:17,280 --> 00:10:20,040 Speaker 1: something of her own, even as I gave my all 201 00:10:20,160 --> 00:10:22,960 Speaker 1: to my employer, saving a little bit for myself as well. 202 00:10:22,960 --> 00:10:25,599 Speaker 1: And I love that you're doing that too. But you 203 00:10:25,640 --> 00:10:27,920 Speaker 1: sound like you're an amazing shape, Chelsea, and I'm so 204 00:10:28,040 --> 00:10:31,079 Speaker 1: damn proud of you, and I can't wait, like right now, 205 00:10:31,080 --> 00:10:34,640 Speaker 1: if I were you, I would just like be have 206 00:10:34,720 --> 00:10:37,040 Speaker 1: a shit eating grin on my face at all times, 207 00:10:37,080 --> 00:10:40,080 Speaker 1: because I know for a fact, Chelsea, and you need 208 00:10:40,120 --> 00:10:42,560 Speaker 1: to know this too, that in another ten years, when 209 00:10:42,600 --> 00:10:45,200 Speaker 1: you're my age thirty six, you are gonna be like 210 00:10:45,960 --> 00:10:47,840 Speaker 1: doing it. You're going to be living the life that 211 00:10:47,840 --> 00:10:51,000 Speaker 1: you're dreaming of right now, and you can be like 212 00:10:51,120 --> 00:10:53,400 Speaker 1: me in whatever version of your life you want to 213 00:10:53,440 --> 00:10:57,040 Speaker 1: be in. But reflecting back and saying thank you so much, 214 00:10:57,120 --> 00:11:00,440 Speaker 1: twenty six year old Chelsea for making those choices, because 215 00:11:00,480 --> 00:11:03,000 Speaker 1: now I am thriving and I am loving my life 216 00:11:03,040 --> 00:11:05,760 Speaker 1: exactly as I wanted to. And I wish that for 217 00:11:05,880 --> 00:11:09,120 Speaker 1: so so many of us out there. Right, So you 218 00:11:09,240 --> 00:11:10,520 Speaker 1: got time on your side. 219 00:11:11,080 --> 00:11:12,040 Speaker 2: Good for you. Girl. 220 00:11:12,520 --> 00:11:15,600 Speaker 1: Listen, if you're listening to this show and you're thirty six, 221 00:11:15,679 --> 00:11:18,360 Speaker 1: forty six, fifty six, and you're like, damn it, I 222 00:11:18,400 --> 00:11:22,040 Speaker 1: wish I was Chelsea. Now you still got time. Age 223 00:11:22,080 --> 00:11:25,440 Speaker 1: ain't nothing but a number. But you asked Chelsea about 224 00:11:25,440 --> 00:11:28,400 Speaker 1: something I'd tell my twenty something self, you know. But 225 00:11:28,440 --> 00:11:31,440 Speaker 1: the trick here is that no matter what age you are, like, 226 00:11:31,800 --> 00:11:34,600 Speaker 1: start telling yourself these lessons now and in another ten 227 00:11:34,679 --> 00:11:37,120 Speaker 1: years we all have, you know, we don't know how 228 00:11:37,160 --> 00:11:38,440 Speaker 1: much time we're going to get. We hope we have 229 00:11:38,520 --> 00:11:41,079 Speaker 1: lots of time, right, and I do believe that it's 230 00:11:41,120 --> 00:11:44,520 Speaker 1: never too late to start making changes and start changing 231 00:11:44,559 --> 00:11:47,319 Speaker 1: your approach to money and to your career and your 232 00:11:47,360 --> 00:11:51,320 Speaker 1: finances so that you can thrive and start a new 233 00:11:51,600 --> 00:11:54,559 Speaker 1: you know, a new chapter for yourself. So I hope 234 00:11:54,600 --> 00:11:57,880 Speaker 1: that this was helpful, Chelsea, and thanks for giving me 235 00:11:57,920 --> 00:12:00,959 Speaker 1: a chance to reflect. And you know, pat baby Mandy 236 00:12:01,000 --> 00:12:03,960 Speaker 1: on the shoulder for doing the damn thing. And I 237 00:12:03,960 --> 00:12:06,880 Speaker 1: hope in another ten years I'll be just as proud 238 00:12:06,920 --> 00:12:08,880 Speaker 1: of who I am now, for making the decisions that 239 00:12:08,960 --> 00:12:10,880 Speaker 1: I am now that are going to help me continue 240 00:12:10,880 --> 00:12:13,520 Speaker 1: thriving in my forties and beyond. I'm going to take 241 00:12:13,520 --> 00:12:16,200 Speaker 1: a quick break and be right back with question number two. 242 00:12:19,320 --> 00:12:24,240 Speaker 3: And I'm back and I'm black and I'm brown ambition. 243 00:12:24,280 --> 00:12:28,040 Speaker 2: Shit, I'm back and I'm black and I'm brown Ambish. 244 00:12:28,080 --> 00:12:32,280 Speaker 3: Shit. I'm black and I'm black and I'm brown ambition. 245 00:12:33,360 --> 00:12:35,559 Speaker 3: Don't you wish we could be friends? 246 00:12:35,760 --> 00:12:41,240 Speaker 2: Hey? Okay, so we are back for question new it all? Dude. 247 00:12:42,720 --> 00:12:45,400 Speaker 3: I was talking to one of my mentees today that 248 00:12:45,520 --> 00:12:49,160 Speaker 3: recently just lost his grandmother a couple of days ago, 249 00:12:49,200 --> 00:12:51,120 Speaker 3: so just had me thinking about grief all over again. 250 00:12:51,760 --> 00:12:56,120 Speaker 2: And he has been in business for a couple of years, and. 251 00:12:57,600 --> 00:13:00,920 Speaker 3: You know, he's been having a hard time, and he 252 00:13:01,000 --> 00:13:05,120 Speaker 3: was just asking, like, how do you just even start, Tiffany. 253 00:13:05,640 --> 00:13:07,320 Speaker 3: You know, like he's it's been like, I think like 254 00:13:07,360 --> 00:13:09,600 Speaker 3: five years. He's made a little money here there, you know, 255 00:13:09,679 --> 00:13:13,400 Speaker 3: and it's like not from this big budget niece to 256 00:13:13,480 --> 00:13:16,080 Speaker 3: space where like I have an access and knowledge of dad, 257 00:13:16,400 --> 00:13:18,800 Speaker 3: how do you just start? And so me answering the 258 00:13:18,880 --> 00:13:20,920 Speaker 3: question for him, and it's funny because he called me. 259 00:13:20,960 --> 00:13:23,120 Speaker 3: And then I have another mentee who has like a 260 00:13:23,160 --> 00:13:24,640 Speaker 3: business that you probably know if I say it, but 261 00:13:24,679 --> 00:13:27,120 Speaker 3: still he was kind of struggling too. He has a 262 00:13:27,160 --> 00:13:28,960 Speaker 3: business with his wife, and I was like, I know 263 00:13:29,000 --> 00:13:30,800 Speaker 3: his wife for a long time, and we were talking 264 00:13:30,800 --> 00:13:32,280 Speaker 3: on the phone for like an hour, and I was 265 00:13:32,360 --> 00:13:34,719 Speaker 3: just kind of pouring into him, and I thought, this 266 00:13:34,800 --> 00:13:38,280 Speaker 3: is going to be a good question to answer, like 267 00:13:38,880 --> 00:13:44,360 Speaker 3: how how do you how do you start, you know, 268 00:13:44,559 --> 00:13:48,040 Speaker 3: how do you start to walk towards success in business? 269 00:13:48,080 --> 00:13:52,120 Speaker 3: And what both of them they both have businesses that 270 00:13:52,440 --> 00:13:56,640 Speaker 3: very much are good for the community, you know, like 271 00:13:56,679 --> 00:13:59,480 Speaker 3: it's good for our community, Like these are black centric 272 00:13:59,600 --> 00:14:04,200 Speaker 3: focus businesses that are meant to uplift and uphold and 273 00:14:04,400 --> 00:14:09,200 Speaker 3: enhance and empower our communities. And so they've been doing 274 00:14:09,280 --> 00:14:12,680 Speaker 3: that work for a number of years and they're like, 275 00:14:12,760 --> 00:14:16,480 Speaker 3: but I'm not making sustainable money. And this lesson took 276 00:14:16,520 --> 00:14:18,319 Speaker 3: me a long time to learn. 277 00:14:18,600 --> 00:14:19,720 Speaker 2: But you've been a learner. 278 00:14:19,760 --> 00:14:22,080 Speaker 3: Tip that you can't go get you a notebook, go 279 00:14:22,200 --> 00:14:26,600 Speaker 3: get you a notebook. So here's a lesson I had 280 00:14:26,680 --> 00:14:30,200 Speaker 3: to learn because I too have a community based business 281 00:14:30,960 --> 00:14:34,760 Speaker 3: that doing a good job with the community side is 282 00:14:34,800 --> 00:14:41,040 Speaker 3: not the same thing as making money. I know. It's like, what, Okay, 283 00:14:41,200 --> 00:14:44,680 Speaker 3: you have to have an impact plan if that's what 284 00:14:44,720 --> 00:14:46,720 Speaker 3: you so desire, and then. 285 00:14:46,640 --> 00:14:50,320 Speaker 2: A separate income plan. 286 00:14:51,960 --> 00:14:54,520 Speaker 3: Many of us who start businesses to be of service 287 00:14:54,560 --> 00:14:56,960 Speaker 3: to our people, we already have the impact plan. We 288 00:14:57,040 --> 00:14:59,120 Speaker 3: know it's built into our DNA or you I'll get 289 00:14:59,120 --> 00:15:02,920 Speaker 3: a help right and then like, and I know it 290 00:15:02,960 --> 00:15:06,520 Speaker 3: took me four or five years of perfecting my impact 291 00:15:06,560 --> 00:15:10,000 Speaker 3: plan and wondering why I was still broke before I 292 00:15:10,040 --> 00:15:13,280 Speaker 3: realized I don't actually have a plan to make money. 293 00:15:13,480 --> 00:15:16,880 Speaker 3: I just assume if I make the bigger the impact 294 00:15:16,920 --> 00:15:20,120 Speaker 3: money would come. Is say, lie, maybe every once in 295 00:15:20,120 --> 00:15:21,160 Speaker 3: a while you get a little lucky. 296 00:15:21,160 --> 00:15:22,480 Speaker 2: You're almost like you hit a lick. 297 00:15:23,520 --> 00:15:25,760 Speaker 3: But the truth of the matter is that's not actually 298 00:15:25,800 --> 00:15:28,760 Speaker 3: how it works. Like, that's really actually not how it works. 299 00:15:28,760 --> 00:15:33,240 Speaker 3: That like you have to have a separate income plan. 300 00:15:33,400 --> 00:15:36,520 Speaker 3: Here's a crazy thing. You can have major impact make 301 00:15:36,600 --> 00:15:39,880 Speaker 3: no money. You can have all this income and not 302 00:15:39,960 --> 00:15:41,720 Speaker 3: have impact on people in a positive way. 303 00:15:42,000 --> 00:15:42,840 Speaker 2: That's the crazy part. 304 00:15:42,960 --> 00:15:44,440 Speaker 3: Like you could if you could literally just have an 305 00:15:44,440 --> 00:15:46,080 Speaker 3: income plan and have a successful business. 306 00:15:46,360 --> 00:15:48,040 Speaker 2: But how you want to sleep at night? Because I 307 00:15:48,120 --> 00:15:48,800 Speaker 2: sleep good. 308 00:15:49,320 --> 00:15:53,000 Speaker 3: So I like to have an impact and an income plan. Okay, now, 309 00:15:53,120 --> 00:15:54,960 Speaker 3: how you and yours do in your household, that's up 310 00:15:55,000 --> 00:15:57,560 Speaker 3: to you. But what I'm saying is is that you 311 00:15:57,760 --> 00:16:01,920 Speaker 3: always have to have an income plan. How will I 312 00:16:02,160 --> 00:16:06,840 Speaker 3: make money? Separate from the impact, How will I make money? 313 00:16:06,920 --> 00:16:09,480 Speaker 3: And so I started. Once I realized that I started 314 00:16:09,480 --> 00:16:11,000 Speaker 3: to really look at I'm like, Wow, all the things 315 00:16:11,040 --> 00:16:13,000 Speaker 3: I'm doing to create impact, none of these. 316 00:16:12,920 --> 00:16:14,400 Speaker 2: Things make me money. 317 00:16:14,600 --> 00:16:17,640 Speaker 3: And if I'm being honest, the budget Niza, which is 318 00:16:17,640 --> 00:16:20,640 Speaker 3: my first business, my first baby, I still struggle with 319 00:16:20,680 --> 00:16:24,480 Speaker 3: them because my first mind is always impact, impact, impact. 320 00:16:24,480 --> 00:16:26,720 Speaker 3: I'll give you an example. I recently did a wealth 321 00:16:26,760 --> 00:16:29,720 Speaker 3: walk in Maryland, and so my wealth walk went really good. 322 00:16:29,760 --> 00:16:32,280 Speaker 3: Like the first wealth walk I had in Jersey, I 323 00:16:32,280 --> 00:16:34,160 Speaker 3: think like fifty people showed up, which was nice. 324 00:16:34,200 --> 00:16:35,520 Speaker 2: We just walked and talked about money. 325 00:16:35,800 --> 00:16:37,520 Speaker 3: The second walk I had a Mayland, about one hundred 326 00:16:37,520 --> 00:16:39,280 Speaker 3: people showed up, and then this time we went live 327 00:16:39,320 --> 00:16:40,960 Speaker 3: and four thousand people showed up live. 328 00:16:41,720 --> 00:16:43,640 Speaker 2: It went great, But the. 329 00:16:43,520 --> 00:16:47,840 Speaker 3: Wealth Walk is impact, and it was such a heavy 330 00:16:47,880 --> 00:16:49,720 Speaker 3: lift for my team, and it cost me money to 331 00:16:49,720 --> 00:16:51,680 Speaker 3: fly out there and to get a hotel to hire 332 00:16:51,720 --> 00:16:52,880 Speaker 3: the photographer and Da da. 333 00:16:52,800 --> 00:16:57,400 Speaker 2: Da da dah. There was no income menia and people 334 00:16:57,480 --> 00:16:58,760 Speaker 2: keep saying, ooh, can you do a wealth walk? 335 00:16:58,840 --> 00:17:01,400 Speaker 3: Kick you, I can't afford to do that, and I'm 336 00:17:01,400 --> 00:17:04,119 Speaker 3: struggling with I want to do more wealth walks because 337 00:17:04,119 --> 00:17:07,080 Speaker 3: they were It was so amazing because one y'all know, 338 00:17:07,119 --> 00:17:10,600 Speaker 3: I've been a walking child, right, snches since has been getting. 339 00:17:10,359 --> 00:17:11,320 Speaker 2: Snatched, right. 340 00:17:11,880 --> 00:17:14,800 Speaker 3: And I know for our community, especially for black and 341 00:17:14,800 --> 00:17:17,959 Speaker 3: brown people, but especially for black women, the impact of 342 00:17:18,160 --> 00:17:23,600 Speaker 3: like of distress and diabetes and high blood pressure and hypertension, 343 00:17:23,680 --> 00:17:26,040 Speaker 3: all these things we carry in our body, that walking 344 00:17:26,680 --> 00:17:30,080 Speaker 3: is a great tool that for the majority of us, 345 00:17:30,200 --> 00:17:34,280 Speaker 3: is not overly taxing. You know, it's a community based activity. 346 00:17:34,280 --> 00:17:36,119 Speaker 3: It's so good for your legs and your limbs, and 347 00:17:36,119 --> 00:17:38,439 Speaker 3: also for most people, not everyone. I know that everyone 348 00:17:38,520 --> 00:17:40,760 Speaker 3: is not able. But the beautiful part about the Wealth 349 00:17:40,800 --> 00:17:44,360 Speaker 3: walk is that we walk and then those who could 350 00:17:44,400 --> 00:17:48,199 Speaker 3: not walk, we came back anyway to a you know, safe, 351 00:17:48,680 --> 00:17:51,399 Speaker 3: secure place, and then we talk about money. And the 352 00:17:51,480 --> 00:17:54,480 Speaker 3: last one I did was with the counsel Counselman at 353 00:17:54,560 --> 00:17:59,000 Speaker 3: Large Will Juando in Maryland, and he talked about how 354 00:17:59,040 --> 00:18:03,679 Speaker 3: to how to lean into legislation and your politicians in 355 00:18:03,720 --> 00:18:05,520 Speaker 3: a way that will impact your wealth. 356 00:18:05,800 --> 00:18:06,720 Speaker 2: So it was awesome. 357 00:18:06,800 --> 00:18:09,680 Speaker 3: I mean, Will was so knowledgeable from how to get 358 00:18:09,720 --> 00:18:12,399 Speaker 3: money for your businesses to how to purchase a home 359 00:18:12,920 --> 00:18:14,760 Speaker 3: using the tools available to you in your state. 360 00:18:14,800 --> 00:18:20,800 Speaker 2: It was just so impactful. No income, all of that awesome. 361 00:18:20,880 --> 00:18:22,399 Speaker 3: And I know if I do the next one two 362 00:18:22,480 --> 00:18:24,080 Speaker 3: hundred and the next one three hundred and next one 363 00:18:24,080 --> 00:18:29,840 Speaker 3: front and no income, and I realize, okay, I have 364 00:18:29,880 --> 00:18:32,159 Speaker 3: to have an income plan. And so some of the 365 00:18:32,160 --> 00:18:33,879 Speaker 3: things I can do is I can sell T shirts 366 00:18:33,880 --> 00:18:34,840 Speaker 3: like Wealth Walk T shirts. 367 00:18:34,840 --> 00:18:35,560 Speaker 2: I thought about that. 368 00:18:36,520 --> 00:18:40,399 Speaker 3: Also, I can say, hey brands, hey brands, looking like 369 00:18:40,440 --> 00:18:44,040 Speaker 3: you always do, why don't you sponsor or Wealth Walk? 370 00:18:44,280 --> 00:18:47,359 Speaker 3: Because you get these people in person one hundred, two hundred, 371 00:18:47,359 --> 00:18:49,720 Speaker 3: three hundred, and then on top of that, you get 372 00:18:49,880 --> 00:18:52,840 Speaker 3: thousands of people watching the walk the talk part of 373 00:18:52,840 --> 00:18:55,920 Speaker 3: the Wealth Walk, and so there's like, you know, potential 374 00:18:55,920 --> 00:18:57,080 Speaker 3: for sponsorship there. 375 00:18:58,440 --> 00:18:59,720 Speaker 2: So I have not done those things yet. 376 00:18:59,720 --> 00:19:02,440 Speaker 3: But what I'm saying is that even me a season entrepreneur, 377 00:19:02,480 --> 00:19:04,520 Speaker 3: fifteen years in the game, I still struggle with the 378 00:19:04,560 --> 00:19:06,200 Speaker 3: income impact component. 379 00:19:06,359 --> 00:19:11,479 Speaker 2: Okay. And so I was telling my mentees about so 380 00:19:11,520 --> 00:19:13,680 Speaker 2: here's how I had him start and hopefully these these 381 00:19:13,720 --> 00:19:16,400 Speaker 2: will help for you. You ready, get shippad down. 382 00:19:16,520 --> 00:19:19,200 Speaker 3: I know you probably driving the car, and to pull 383 00:19:19,200 --> 00:19:20,639 Speaker 3: over to the side of the road, get your pen on, 384 00:19:21,320 --> 00:19:21,760 Speaker 3: and say. 385 00:19:21,600 --> 00:19:22,320 Speaker 2: Here are the steps. 386 00:19:22,600 --> 00:19:25,960 Speaker 3: One I always visualize whenever I'm trying to reach your goal. 387 00:19:26,240 --> 00:19:29,679 Speaker 3: I always visualize a white board, typically a corkboard, and 388 00:19:29,720 --> 00:19:32,439 Speaker 3: I say, put your numbers on the board. So I 389 00:19:32,480 --> 00:19:35,639 Speaker 3: want you to visualize a whiteboard or a corkboard and 390 00:19:35,680 --> 00:19:38,119 Speaker 3: put a number at the top of the board. And 391 00:19:38,160 --> 00:19:40,399 Speaker 3: so that number can be a number of people you 392 00:19:40,400 --> 00:19:42,320 Speaker 3: want to sign up for your email list or whatever. 393 00:19:42,320 --> 00:19:44,760 Speaker 3: But we're talking about income right now. So we're gonna 394 00:19:44,760 --> 00:19:47,360 Speaker 3: put an income number on the board. And it has 395 00:19:47,440 --> 00:19:47,919 Speaker 3: to be. 396 00:19:49,800 --> 00:19:53,600 Speaker 2: Folk. It has to be based on something concrete. 397 00:19:54,280 --> 00:19:57,920 Speaker 3: So for one of my mentees, it was based upon 398 00:19:58,000 --> 00:20:00,760 Speaker 3: he was filing some paperwork for his big or whatever, 399 00:20:01,040 --> 00:20:02,720 Speaker 3: and like he had some lawyer fees and blah blah 400 00:20:02,720 --> 00:20:05,280 Speaker 3: blah blah, and I was like, add up those fees 401 00:20:05,320 --> 00:20:09,119 Speaker 3: so you can get very clear on the number, you know, 402 00:20:09,200 --> 00:20:11,800 Speaker 3: So for you, you want to get very clear on 403 00:20:11,840 --> 00:20:12,760 Speaker 3: So I don't want you to just come up with 404 00:20:12,760 --> 00:20:14,440 Speaker 3: some random and oh, I would love to make ten thousand. 405 00:20:14,480 --> 00:20:15,320 Speaker 2: I don't care about all that. 406 00:20:15,840 --> 00:20:19,520 Speaker 3: What number do you need to make for a specific reason, 407 00:20:19,560 --> 00:20:21,760 Speaker 3: because it's going to give you purpose to walk toward it. 408 00:20:22,240 --> 00:20:25,960 Speaker 3: So you might say, honestly, I need to make three thousand, 409 00:20:26,080 --> 00:20:29,760 Speaker 3: five hundred because that's how much three months worth of 410 00:20:29,800 --> 00:20:31,159 Speaker 3: rent and the place that I want to rent, I 411 00:20:31,160 --> 00:20:33,280 Speaker 3: don't know, and just make it to them. Or maybe 412 00:20:33,280 --> 00:20:35,840 Speaker 3: you need to get materials for whatever, the paintings that 413 00:20:35,920 --> 00:20:38,199 Speaker 3: you sell and the materials you added it all up, 414 00:20:38,280 --> 00:20:41,719 Speaker 3: it's like two hundred, I don't know. Get that number 415 00:20:41,760 --> 00:20:45,480 Speaker 3: on the board and a timeframe. Numbers are critical, So 416 00:20:45,520 --> 00:20:47,040 Speaker 3: that's going to go on the top of your board. 417 00:20:47,200 --> 00:20:48,520 Speaker 3: You can go on a real board or the board 418 00:20:48,520 --> 00:20:51,680 Speaker 3: in your head. Okay, that goes first on the board. Okay, 419 00:20:51,960 --> 00:20:54,360 Speaker 3: very clear. So it's the number that you need to hit, 420 00:20:54,520 --> 00:20:57,880 Speaker 3: specific number based upon a specific goal and a timeframe. 421 00:20:57,920 --> 00:21:01,160 Speaker 3: Those two numbers go on top. Second on the board. 422 00:21:01,680 --> 00:21:05,439 Speaker 3: Is that's your must make number. Second number on the 423 00:21:05,480 --> 00:21:07,639 Speaker 3: board is your like to make numbers. So let's just 424 00:21:07,680 --> 00:21:10,000 Speaker 3: say it's twelve hundred dollars is what you need to 425 00:21:10,000 --> 00:21:12,200 Speaker 3: make in order to buy the materials to do your paintings, 426 00:21:12,480 --> 00:21:14,719 Speaker 3: but ideally you would love to make two thousand dollars 427 00:21:15,280 --> 00:21:17,560 Speaker 3: in the next three months. So maybe you said to yourself, 428 00:21:18,000 --> 00:21:20,040 Speaker 3: you know, I want to like, you know, I have 429 00:21:20,119 --> 00:21:24,159 Speaker 3: three months because I don't know essence fast or invest 430 00:21:24,200 --> 00:21:26,320 Speaker 3: fast or whatever's coming up, and I need my painting 431 00:21:26,400 --> 00:21:28,560 Speaker 3: to be ready by then, you know, or whatever. I'm 432 00:21:28,600 --> 00:21:29,920 Speaker 3: just making it up like that's why you have the 433 00:21:29,960 --> 00:21:32,120 Speaker 3: three month timeframe. You need to make the twelve hundred 434 00:21:32,119 --> 00:21:34,560 Speaker 3: because you added up how much pain and whatever things 435 00:21:34,560 --> 00:21:37,199 Speaker 3: you need are gonna cost you in twelve hundred is 436 00:21:37,280 --> 00:21:38,240 Speaker 3: what you need to make. 437 00:21:38,600 --> 00:21:40,199 Speaker 2: Second number on the board what I like to make. 438 00:21:40,240 --> 00:21:43,240 Speaker 3: It would be cute if I could make two thousand now, okay, 439 00:21:43,400 --> 00:21:45,879 Speaker 3: a little boost up, a little reach. So that's the 440 00:21:45,920 --> 00:21:50,040 Speaker 3: second number on the board. You with me, okay. Third 441 00:21:50,160 --> 00:21:53,520 Speaker 3: thing on the board is I want you if you 442 00:21:53,640 --> 00:21:55,680 Speaker 3: already have been in business, I want you to write 443 00:21:55,720 --> 00:21:59,840 Speaker 3: down a number of ways you've already made money before. 444 00:22:01,320 --> 00:22:04,000 Speaker 3: So you might say, you know, I did sell one 445 00:22:04,040 --> 00:22:08,600 Speaker 3: painting before, or I did sell a T shirt before, 446 00:22:09,400 --> 00:22:13,760 Speaker 3: or you know what, my sister's best friend did pay 447 00:22:13,800 --> 00:22:15,600 Speaker 3: me to make a cake. I need you to write 448 00:22:15,640 --> 00:22:17,880 Speaker 3: down all the ways you've made money before, and if 449 00:22:17,880 --> 00:22:19,879 Speaker 3: you haven't made any money because you're brand new, I 450 00:22:19,920 --> 00:22:23,440 Speaker 3: need you to write down ways that people have made 451 00:22:23,440 --> 00:22:25,720 Speaker 3: money in the space that you're in before. I'm not 452 00:22:25,760 --> 00:22:28,360 Speaker 3: talking about big, big ways. I'm talking about people who 453 00:22:28,359 --> 00:22:30,879 Speaker 3: are similar size to me. You're like, Yo, my homegirl, 454 00:22:31,200 --> 00:22:35,159 Speaker 3: you know she sold I don't know, acrylic nails, or 455 00:22:35,240 --> 00:22:36,600 Speaker 3: she's done retightening of. 456 00:22:36,600 --> 00:22:38,159 Speaker 2: Hair or whatever that is. 457 00:22:38,560 --> 00:22:41,919 Speaker 3: So either ways you've made money before, or ways that 458 00:22:41,960 --> 00:22:44,200 Speaker 3: you've seen someone who's about at your level has made 459 00:22:44,200 --> 00:22:46,880 Speaker 3: money before. Okay, write down as many ways as possible. 460 00:22:47,320 --> 00:22:48,119 Speaker 2: You're ready. 461 00:22:48,160 --> 00:22:52,159 Speaker 3: So remember number one, how many time frame and a 462 00:22:52,240 --> 00:22:54,960 Speaker 3: specific amount that you want to make within that timeframe 463 00:22:55,040 --> 00:22:58,920 Speaker 3: based upon specific goals, not just these random things, based 464 00:22:59,000 --> 00:23:03,480 Speaker 3: on specific goals. Two, same timeframe, but your stretch goal, 465 00:23:04,400 --> 00:23:06,600 Speaker 3: add another five hundred to it, and add thousand to it. 466 00:23:06,640 --> 00:23:07,200 Speaker 2: Stretch goal. 467 00:23:07,640 --> 00:23:11,240 Speaker 3: Three ways that you've already made money in this space already, 468 00:23:11,359 --> 00:23:13,320 Speaker 3: or ways that you've seen people who are at your level, 469 00:23:13,400 --> 00:23:15,119 Speaker 3: very beginner level made money in this space. 470 00:23:15,400 --> 00:23:16,800 Speaker 2: Okay, and so we're. 471 00:23:16,600 --> 00:23:20,280 Speaker 3: Doing three now three A is now here or here 472 00:23:20,320 --> 00:23:22,320 Speaker 3: are the ways that because you can't do all the 473 00:23:22,400 --> 00:23:24,280 Speaker 3: things right, So let's just say you write down ten 474 00:23:24,320 --> 00:23:26,280 Speaker 3: different ways that you've made money in this way before, 475 00:23:26,320 --> 00:23:29,119 Speaker 3: or you've seen people who are beginning make money in 476 00:23:29,119 --> 00:23:30,160 Speaker 3: this way. 477 00:23:30,280 --> 00:23:31,600 Speaker 2: You can't chase all of them. 478 00:23:31,760 --> 00:23:34,600 Speaker 3: So you're going to write down these four questions You're 479 00:23:34,600 --> 00:23:36,400 Speaker 3: going to ask yourself and it has to say yes 480 00:23:36,440 --> 00:23:38,760 Speaker 3: to these four for you to decide if maybe you're. 481 00:23:38,600 --> 00:23:39,160 Speaker 2: Gonna do it. 482 00:23:39,400 --> 00:23:44,399 Speaker 3: One you have to ask yourself, like ideally, you know, 483 00:23:44,640 --> 00:23:46,760 Speaker 3: I think it's three questions, really, but really, like I said, 484 00:23:47,119 --> 00:23:48,679 Speaker 3: have you made money in this way before? 485 00:23:49,280 --> 00:23:52,120 Speaker 2: Right? Have I made money in this way before? Or 486 00:23:52,280 --> 00:23:52,640 Speaker 2: have I. 487 00:23:52,600 --> 00:23:54,880 Speaker 3: Seen someone who is very beginning make money in this way? 488 00:23:54,920 --> 00:23:56,800 Speaker 3: Because we want to know is it possible. We're not 489 00:23:56,840 --> 00:23:59,600 Speaker 3: guessing out here now. This is not your life business 490 00:23:59,600 --> 00:24:01,760 Speaker 3: plan and you're planned for. This is a make money 491 00:24:01,840 --> 00:24:03,840 Speaker 3: now plan the next three months, right or four months 492 00:24:03,880 --> 00:24:06,520 Speaker 3: or whatever? Have I made money like this before? Have 493 00:24:06,600 --> 00:24:08,359 Speaker 3: I seen a beginner make money like this before? 494 00:24:08,480 --> 00:24:12,720 Speaker 2: Yes? Moving along? Two? Can I do this by myself? 495 00:24:13,240 --> 00:24:14,840 Speaker 3: Because one of my friends he was like, oh, if 496 00:24:14,880 --> 00:24:17,119 Speaker 3: I only had a team, I'm like, what that's like 497 00:24:17,200 --> 00:24:19,000 Speaker 3: saying if I only had a magic wand duh? 498 00:24:20,320 --> 00:24:22,399 Speaker 2: If we all have humongous. 499 00:24:21,920 --> 00:24:24,720 Speaker 3: Teens, if we only had a million dollars, if we 500 00:24:24,760 --> 00:24:26,560 Speaker 3: only had no worries, if I only get eat cake, 501 00:24:26,560 --> 00:24:28,320 Speaker 3: can I get fat? I mean, what are we saying? 502 00:24:28,400 --> 00:24:31,000 Speaker 3: Of course, but you don't got none of them things? 503 00:24:31,080 --> 00:24:34,760 Speaker 3: So step two is can I do it without a team? 504 00:24:34,800 --> 00:24:36,719 Speaker 3: Can I do this by myself? Like I said, this 505 00:24:36,800 --> 00:24:40,240 Speaker 3: is not a forever plan. This is just in the 506 00:24:40,359 --> 00:24:43,320 Speaker 3: moment plan so I can get to my first major 507 00:24:43,359 --> 00:24:44,120 Speaker 3: financial goal. 508 00:24:44,720 --> 00:24:47,080 Speaker 2: You know, can I do this by myself? When I 509 00:24:47,119 --> 00:24:49,080 Speaker 2: first the first six seven years, by Jesus, it was 510 00:24:49,160 --> 00:24:51,880 Speaker 2: me myself and not that's all I got to. 511 00:24:51,680 --> 00:24:54,560 Speaker 3: The end and don't know. Okay, can I do it 512 00:24:54,560 --> 00:24:57,359 Speaker 3: by myself? That's question number two? If you can't do 513 00:24:57,400 --> 00:24:59,720 Speaker 3: it by yourself, Like, if you're fortunate, then maybe you're 514 00:24:59,800 --> 00:25:02,920 Speaker 3: you're significant others helping and maybe you got a sister helping. 515 00:25:02,960 --> 00:25:05,280 Speaker 3: Great Q for you, but in large part for most 516 00:25:05,280 --> 00:25:07,040 Speaker 3: of us, can I do this by myself? 517 00:25:07,080 --> 00:25:07,520 Speaker 2: To start? 518 00:25:08,440 --> 00:25:12,040 Speaker 3: Third question? Can I is this possible within a time frame? 519 00:25:12,280 --> 00:25:14,119 Speaker 3: Because sometimes what I will find, especially with a new 520 00:25:14,200 --> 00:25:17,040 Speaker 3: entrepreneurs so I'll have these huge ideas, but that's a 521 00:25:17,080 --> 00:25:20,320 Speaker 3: five year plan. Bro were talking about five months from now, Max, 522 00:25:21,359 --> 00:25:23,000 Speaker 3: Like don't give me no five year plan. You don't 523 00:25:23,040 --> 00:25:25,520 Speaker 3: have no money coming in tomorrow, like you might not 524 00:25:25,560 --> 00:25:28,120 Speaker 3: be here in five years to see that through. Can 525 00:25:28,160 --> 00:25:29,840 Speaker 3: I do this within my time frame? I would not 526 00:25:29,880 --> 00:25:31,800 Speaker 3: make a time frame more than five months, honestly, I'm 527 00:25:31,840 --> 00:25:35,320 Speaker 3: looking like three months on the average that timeframe, you know, Like, 528 00:25:35,400 --> 00:25:36,880 Speaker 3: can I do this within the timeframe? 529 00:25:37,040 --> 00:25:38,440 Speaker 2: Is that possible? Yes? 530 00:25:38,520 --> 00:25:40,080 Speaker 3: I can bake a cake and sell a cake within 531 00:25:40,119 --> 00:25:44,000 Speaker 3: three months? Okay, there you go. And then fourth is 532 00:25:44,480 --> 00:25:46,240 Speaker 3: do I not have to come out of pocket? 533 00:25:46,280 --> 00:25:49,439 Speaker 2: Really? Or is it nomenal meaning? 534 00:25:49,600 --> 00:25:53,600 Speaker 3: Like hmm, like what can I do to keep my 535 00:25:53,760 --> 00:25:55,919 Speaker 3: cost as low as possible because I don't have any money? 536 00:25:56,400 --> 00:25:58,560 Speaker 3: You know, like maybe baking a cake? You'm like, oh, 537 00:25:58,680 --> 00:26:01,800 Speaker 3: I do have to spend a little bit money to start. Well, 538 00:26:01,840 --> 00:26:03,880 Speaker 3: what's cheaper than the cake? Our cookies cheaper than cakes? 539 00:26:03,920 --> 00:26:06,000 Speaker 3: I could sell that instead, you know what I mean? 540 00:26:06,600 --> 00:26:09,640 Speaker 3: Or can I do pre orders of these cakes instead 541 00:26:09,680 --> 00:26:12,080 Speaker 3: for people who already eating cakes from me? Can I 542 00:26:12,160 --> 00:26:14,040 Speaker 3: do it without taking much money out of pocket? Or 543 00:26:14,119 --> 00:26:15,600 Speaker 3: zero money out of pocket? You see how you have 544 00:26:15,640 --> 00:26:17,840 Speaker 3: to be clever? So those are the fourth questions you're asking. 545 00:26:17,920 --> 00:26:21,560 Speaker 3: Under number three, have I done this before made money 546 00:26:21,600 --> 00:26:23,919 Speaker 3: because you want to. I don't want you guessing. So 547 00:26:24,040 --> 00:26:27,399 Speaker 3: that is your preliminary I ain't never made no real money. 548 00:26:27,600 --> 00:26:29,840 Speaker 3: I'm still super new in business. Or you've been in 549 00:26:29,880 --> 00:26:32,679 Speaker 3: business for a while, but you're not really sure, like 550 00:26:32,720 --> 00:26:34,399 Speaker 3: you know why you're not making no money. That is 551 00:26:34,440 --> 00:26:37,359 Speaker 3: a preliminary income plan. 552 00:26:38,160 --> 00:26:42,639 Speaker 2: Ain't that good job. I'm not gonna lie. I'm smart, 553 00:26:44,520 --> 00:26:46,160 Speaker 2: you know, but for real, that's a preliminary plan. 554 00:26:46,200 --> 00:26:48,680 Speaker 3: And when I told it to my two and I've 555 00:26:48,680 --> 00:26:51,439 Speaker 3: got about three male menties everybody else's like women, and 556 00:26:51,480 --> 00:26:52,960 Speaker 3: I told it to them, they were like, oh my gosh, 557 00:26:53,000 --> 00:26:55,720 Speaker 3: I could do that. Right away, they started texting me like, Yo, 558 00:26:56,119 --> 00:26:58,240 Speaker 3: here's all the fees that I have to pay, and 559 00:26:58,280 --> 00:27:00,760 Speaker 3: so I know my number thirty eightundred dollars. I know 560 00:27:00,840 --> 00:27:03,919 Speaker 3: my number twelve hundred dollars. Okay, in three months, I 561 00:27:03,960 --> 00:27:06,520 Speaker 3: really have to have it done or this thing expires. Okay, 562 00:27:06,800 --> 00:27:09,119 Speaker 3: but my stretch numbers, I would love to make forty 563 00:27:09,119 --> 00:27:11,800 Speaker 3: five hundred dollars. Okay, here are the three ways that 564 00:27:11,800 --> 00:27:13,679 Speaker 3: I've made money before. Then we started to look at 565 00:27:13,720 --> 00:27:17,120 Speaker 3: those ways. Once those ways answer those four questions, boom, 566 00:27:17,280 --> 00:27:20,200 Speaker 3: I've made money like this before I've seen someone do it. Boom, 567 00:27:20,240 --> 00:27:23,000 Speaker 3: it don't take more money out of pocket or very little. 568 00:27:23,280 --> 00:27:23,639 Speaker 2: Boom. 569 00:27:23,840 --> 00:27:25,800 Speaker 3: I could do it within a timeframe. Boom, I could 570 00:27:25,840 --> 00:27:28,080 Speaker 3: do it by myself and answer those questions. Then we 571 00:27:28,119 --> 00:27:30,240 Speaker 3: started to like, I said, let's put some money, more 572 00:27:30,240 --> 00:27:32,560 Speaker 3: money on the board. Once you start to you look 573 00:27:32,600 --> 00:27:34,640 Speaker 3: at your list of number three, you start to eliminate 574 00:27:34,640 --> 00:27:36,840 Speaker 3: those things. So don't say yes to those four questions. 575 00:27:37,520 --> 00:27:39,880 Speaker 3: And then I started to say, Okay, you sold merch 576 00:27:39,960 --> 00:27:43,719 Speaker 3: before you told me that the merch made you two 577 00:27:43,840 --> 00:27:45,760 Speaker 3: hundred and fifty dollars. Can you put merch down for 578 00:27:45,800 --> 00:27:47,720 Speaker 3: five hundred? I think if you did two fifty on 579 00:27:47,800 --> 00:27:49,720 Speaker 3: some old la la la la, I think you do 580 00:27:49,760 --> 00:27:52,119 Speaker 3: five hundred in three months, if you did two fifty 581 00:27:52,119 --> 00:27:53,800 Speaker 3: in one month. He was like yes, So now we're 582 00:27:53,840 --> 00:27:56,120 Speaker 3: starting to cross things off the board because you want 583 00:27:56,119 --> 00:27:59,199 Speaker 3: to make three thousand dollars. Okay, you already down like 584 00:27:59,560 --> 00:28:02,160 Speaker 3: we've already maybe we can put merch down for five 585 00:28:02,240 --> 00:28:04,200 Speaker 3: hundred dollars. So now you're down to twenty five hundred 586 00:28:04,240 --> 00:28:06,280 Speaker 3: dollars that needs to be made. What else I could do? 587 00:28:06,320 --> 00:28:09,840 Speaker 3: Speaking okay, because before he was like, oh I don't 588 00:28:09,880 --> 00:28:12,720 Speaker 3: know how many speaking engagements A how I should charge 589 00:28:12,760 --> 00:28:15,360 Speaker 3: for speaking engagement. But now buruh I said, look, if 590 00:28:15,400 --> 00:28:17,560 Speaker 3: it was me, I'm looking at the board, I'm looking 591 00:28:17,600 --> 00:28:19,240 Speaker 3: at the people who want me to speak. You let 592 00:28:19,240 --> 00:28:21,560 Speaker 3: them know I would love to make fifteen hundred, but 593 00:28:21,600 --> 00:28:24,919 Speaker 3: in your mind you might take six or seven hundred, okay, 594 00:28:25,240 --> 00:28:26,719 Speaker 3: And so you might even push to say, you know, 595 00:28:26,760 --> 00:28:28,400 Speaker 3: do you have a budget of two thousand? If they 596 00:28:28,400 --> 00:28:32,000 Speaker 3: push back to fifteen or at least a thousand, a thousand, damn, 597 00:28:32,080 --> 00:28:34,720 Speaker 3: you already halfway done. Because he said, there's some speaking 598 00:28:34,720 --> 00:28:36,680 Speaker 3: people who have asked him to speak, and he's always 599 00:28:36,680 --> 00:28:39,240 Speaker 3: been like, oh no, I'm like, get your no less 600 00:28:39,280 --> 00:28:41,960 Speaker 3: than five hundred, push for at least one thousand dollars, 601 00:28:42,040 --> 00:28:44,400 Speaker 3: you know, but ask for maybe twenty twenty five hundred. 602 00:28:44,440 --> 00:28:45,680 Speaker 2: See what they say. 603 00:28:45,840 --> 00:28:48,160 Speaker 3: So he was already like, yo, okay, merch down for 604 00:28:48,200 --> 00:28:50,680 Speaker 3: five hundred, speaking down for fifteen hundred. 605 00:28:50,720 --> 00:28:51,520 Speaker 2: Boom, Now we're. 606 00:28:51,360 --> 00:28:54,560 Speaker 3: At two thousand, other three thirty five hundred that you need, boy, 607 00:28:54,680 --> 00:28:57,360 Speaker 3: you know, And so slowly but surely you see how 608 00:28:57,400 --> 00:29:00,240 Speaker 3: you go from I don't know what that do to boom. 609 00:29:00,000 --> 00:29:03,320 Speaker 2: Boom boom, boom boom boom boom boom. Let's go back. 610 00:29:03,880 --> 00:29:05,400 Speaker 2: Oh that was first ices in that when I was 611 00:29:05,400 --> 00:29:07,000 Speaker 2: a kid. I'm like, do you remember that? 612 00:29:07,080 --> 00:29:07,240 Speaker 1: Saw? 613 00:29:07,280 --> 00:29:09,080 Speaker 2: Boom boom boom. Let's go back to my room. Tell 614 00:29:09,240 --> 00:29:11,240 Speaker 2: I was like in the second grade anyway. 615 00:29:12,040 --> 00:29:15,280 Speaker 3: But you see how you go quickly from like here, 616 00:29:15,400 --> 00:29:18,840 Speaker 3: it's an actuable income plan that I can do today? 617 00:29:19,680 --> 00:29:20,560 Speaker 2: Is that really helpful? 618 00:29:20,720 --> 00:29:23,360 Speaker 3: Because then you can start assigning amount that you believe 619 00:29:23,360 --> 00:29:25,680 Speaker 3: you can make. That's why asking yourself the question, have 620 00:29:25,760 --> 00:29:28,200 Speaker 3: I made money in this space before, because then you 621 00:29:28,200 --> 00:29:30,640 Speaker 3: can say, if I was able to make two hundred, 622 00:29:30,720 --> 00:29:33,560 Speaker 3: maybe I can make four. Or if my friend or 623 00:29:33,600 --> 00:29:35,840 Speaker 3: someone who I saw do it, you know, I see 624 00:29:35,880 --> 00:29:38,160 Speaker 3: that they if I can estimate they made about a thousand, 625 00:29:38,200 --> 00:29:40,280 Speaker 3: maybe I could do two thousand. You see what I mean. 626 00:29:40,880 --> 00:29:43,320 Speaker 3: So I hope that was helpful. You know, I love 627 00:29:43,400 --> 00:29:45,880 Speaker 3: me some personal finance, but I also love some business. 628 00:29:47,040 --> 00:29:48,120 Speaker 3: So here's the thing. 629 00:29:48,600 --> 00:29:49,320 Speaker 2: Here's the thing. 630 00:29:49,560 --> 00:29:51,640 Speaker 3: When you started out friends, if you want me to 631 00:29:51,680 --> 00:29:54,320 Speaker 3: mentor you which you know you do know you no, 632 00:29:54,400 --> 00:29:57,080 Speaker 3: you no, you know you do. I actually have a 633 00:29:57,080 --> 00:30:00,840 Speaker 3: mentorship program called mymntor Tiffany dot com. Use this platform 634 00:30:00,840 --> 00:30:04,239 Speaker 3: called Patreon and it's twenty bucks a month. It's like 635 00:30:04,280 --> 00:30:05,880 Speaker 3: two sixteen for the year, because I think you get 636 00:30:05,920 --> 00:30:07,400 Speaker 3: like ten percent off if you pay for the year, 637 00:30:07,640 --> 00:30:10,240 Speaker 3: and the benefit if you pay for the annual is 638 00:30:10,280 --> 00:30:11,800 Speaker 3: when I come to your city. So whenever I go 639 00:30:11,840 --> 00:30:13,680 Speaker 3: to a city, I try my best to have a 640 00:30:13,680 --> 00:30:17,120 Speaker 3: mentee dinner with about twenty to twenty five women as 641 00:30:17,160 --> 00:30:19,240 Speaker 3: much as a restaurant will allow, which usually they cap 642 00:30:19,240 --> 00:30:21,480 Speaker 3: it at twenty five, and then we have dinner together 643 00:30:21,600 --> 00:30:23,920 Speaker 3: and we get to like introduce ourselves to each other, 644 00:30:24,040 --> 00:30:26,480 Speaker 3: share our businesses. I mean, it's just an amazing time. 645 00:30:26,520 --> 00:30:28,560 Speaker 3: Like in Maryland it was about twenty two of us. 646 00:30:29,160 --> 00:30:31,600 Speaker 2: It was awesome. But if you pay annually, I. 647 00:30:31,600 --> 00:30:34,600 Speaker 3: Set aside the first half of the tickets for annual 648 00:30:34,640 --> 00:30:37,160 Speaker 3: members to because it always sells out. I set aside 649 00:30:37,160 --> 00:30:38,640 Speaker 3: the first half of the tickets that they get to 650 00:30:38,680 --> 00:30:40,840 Speaker 3: buy first, and then I leave it like I open 651 00:30:40,920 --> 00:30:42,800 Speaker 3: up to the rest of the mentees. That's the benefit 652 00:30:42,880 --> 00:30:45,160 Speaker 3: of being an annual member. You get ten percent off 653 00:30:45,160 --> 00:30:47,880 Speaker 3: and you get access to things before everybody else because 654 00:30:47,880 --> 00:30:51,160 Speaker 3: it always always sells out. So yeah, if you want 655 00:30:51,160 --> 00:30:53,160 Speaker 3: to join, you on a twenty bucks a month, my 656 00:30:53,320 --> 00:30:56,960 Speaker 3: mentor Tiffany dot com. I don't talk about personal finance there. 657 00:30:57,000 --> 00:30:59,080 Speaker 3: Don't come there like I need. I have to live 658 00:30:59,200 --> 00:31:02,760 Speaker 3: richer academy that if you want a personal finance like 659 00:31:02,920 --> 00:31:07,120 Speaker 3: you know, courses. But my mentor Tiffany, is really me 660 00:31:07,120 --> 00:31:12,680 Speaker 3: mentoring you in business. Okay, So hopefully that was helpful. 661 00:31:12,760 --> 00:31:15,040 Speaker 3: I know that was kind of around or word, but 662 00:31:15,760 --> 00:31:18,080 Speaker 3: I just know that was really helpful for them, and 663 00:31:18,240 --> 00:31:19,960 Speaker 3: you know, hopefully that was helpful for you. 664 00:31:20,680 --> 00:31:22,280 Speaker 2: And I will see you. 665 00:31:22,320 --> 00:31:25,880 Speaker 3: At the next b a q A A b a 666 00:31:26,280 --> 00:31:28,600 Speaker 3: q A wit to say the b a q A 667 00:31:28,720 --> 00:31:30,280 Speaker 3: with Tiffany the b a q. 668 00:31:30,520 --> 00:31:34,840 Speaker 2: A see your next Friday. All right, bye, y'all, Hey, 669 00:31:34,880 --> 00:31:35,560 Speaker 2: ba fam. 670 00:31:35,600 --> 00:31:38,440 Speaker 1: We could not do this show without your support or 671 00:31:38,480 --> 00:31:41,280 Speaker 1: the support of our team behind the scenes. The brann 672 00:31:41,360 --> 00:31:44,800 Speaker 1: Viision podcast is produced by Imani Crosby and Dennis and 673 00:31:44,880 --> 00:31:48,040 Speaker 1: Plinsky is our in house tech guru. I am your 674 00:31:48,080 --> 00:31:50,760 Speaker 1: co host Mandy Woodrif Santos, and we will see y'all 675 00:31:50,800 --> 00:31:54,520 Speaker 1: next week, ba Fam.