WEBVTT - Community Doesn't Equal Money (BA Q&A) 0:00:02.560 --> 0:00:06.040 It's time for the b a qa A the b 0:00:06.240 --> 0:00:10.360 a qa What to say the ba qa with Manday 0:00:10.520 --> 0:00:15.640 the ba qa A. Hello ba Fam, I am back 0:00:15.680 --> 0:00:19.000 to answer more of your questions on this week's b Aqa. 0:00:19.320 --> 0:00:23.800 This question comes from listener Chelsea. Chelsea says, hey, ladies, 0:00:23.840 --> 0:00:26.200 I am twenty six years old and currently working in 0:00:26.280 --> 0:00:30.320 my first full time Big Girl career JOm. I'm working 0:00:30.360 --> 0:00:33.400 on transitioning to another job now. I have good credit 0:00:33.440 --> 0:00:35.440 for my age and I make good money, but I'm 0:00:35.479 --> 0:00:38.680 always working on a bigger bag. I have my own 0:00:38.720 --> 0:00:42.000 small business and very few bills, but I want to 0:00:42.000 --> 0:00:44.880 hear from you, ladies. What would you tell your twenty 0:00:44.960 --> 0:00:48.279 something self, knowing everything that you know now? I am 0:00:48.400 --> 0:00:51.400 very I'm a very proactive person, so I am working 0:00:51.440 --> 0:00:54.440 on getting into personal finance more and planning for the future. 0:00:55.080 --> 0:00:59.000 I love your show and I appreciate your advice. You know, Chelsea, 0:00:59.200 --> 0:01:01.120 this question came out a really good time for me 0:01:01.240 --> 0:01:04.880 because I was just sitting the other day in my 0:01:05.000 --> 0:01:07.440 car on the way to pick up dinner or something 0:01:07.440 --> 0:01:10.240 for the family. I sometimes give myself little errands just 0:01:10.280 --> 0:01:13.040 so I can go be alone in the car. Anyone 0:01:13.040 --> 0:01:15.679 out there also do that even if I sit in 0:01:15.720 --> 0:01:17.760 the driveway for like an extra ten minutes when I 0:01:17.800 --> 0:01:20.800 get back, like that is precious quiet time for me. 0:01:21.560 --> 0:01:24.520 But I was reflecting on my drive and I was 0:01:24.560 --> 0:01:27.840 thinking about my three bees, the book, deal, the Beyonce, 0:01:27.959 --> 0:01:32.360 the baby, and I really, yes, I'm proud of myself 0:01:32.360 --> 0:01:35.760 that I accomplished those things this year. But I looked 0:01:35.800 --> 0:01:37.720 back and I was like, you know who accomplished that, 0:01:38.720 --> 0:01:42.240 Baby Mandy when she was twenty four and opened her 0:01:42.280 --> 0:01:45.480 first four oh one K and started to invest. She's 0:01:45.560 --> 0:01:48.480 the one I can thank for the ability that I 0:01:48.480 --> 0:01:52.600 have had to build this life for myself, and she's 0:01:52.680 --> 0:01:57.320 the hero of my story. I'm getting to enjoy the 0:01:57.360 --> 0:02:01.040 fruits of baby Mandy's labor. And as I was thinking 0:02:01.080 --> 0:02:03.320 about that, God, it made me want to just like 0:02:03.400 --> 0:02:06.280 reach back in time and give her such a big 0:02:06.400 --> 0:02:09.280 hug because she worked so hard. I'm still working hard 0:02:09.360 --> 0:02:12.680 right and in another twenty years, ten years, I might 0:02:12.720 --> 0:02:15.320 be looking back and saying, ooh, thirty six year old Mandy. 0:02:15.480 --> 0:02:18.080 She was my queen. She did it all for me. 0:02:18.760 --> 0:02:20.600 But I will always have a soft spot in my 0:02:20.919 --> 0:02:23.480 soft spot in my heart for the baby Mandy of 0:02:23.520 --> 0:02:29.079 my early twenties because when there are so many reasons, 0:02:29.120 --> 0:02:33.920 distractions of opportunities to go a different way, to follow 0:02:34.000 --> 0:02:37.040 the social media pressure to put on a big show, 0:02:37.160 --> 0:02:40.760 go on vacations, you know, show off that you're doing 0:02:40.800 --> 0:02:43.320 well and you got no kids and you're having fun, 0:02:44.000 --> 0:02:46.680 and try to keep up with you know, the joneses. 0:02:46.760 --> 0:02:50.880 At that age, Baby Mandy made a different decision and 0:02:50.919 --> 0:02:56.920 decided I'm going to keep lifestyle inflation out of my picture. 0:02:57.080 --> 0:03:00.400 And lifestyle inflation, as I've said, lifestyle creep another word 0:03:00.440 --> 0:03:03.680 for it, that is like the silent killer of wealth. 0:03:04.480 --> 0:03:08.560 I promise you so many people could be genuinely debt free, 0:03:08.600 --> 0:03:12.680 wealthy well into like early like twenties and thirties if 0:03:12.680 --> 0:03:16.680 they just could beat down lifestyle inflation. So if I 0:03:16.680 --> 0:03:20.040 could go back, I would say, this is the best 0:03:20.040 --> 0:03:22.760 thing that you did, baby girl. Like the fact that 0:03:22.960 --> 0:03:25.919 when you ten x your net worth and you ten 0:03:26.040 --> 0:03:29.640 xt your income by quitting jobs and learning how to 0:03:29.680 --> 0:03:33.160 be a badass negotiator and getting those big raises as 0:03:33.160 --> 0:03:36.200 you jump from job to job and move through your career, 0:03:36.600 --> 0:03:39.880 you didn't let the extra earnings drive you to start 0:03:39.920 --> 0:03:43.040 spending more in places that didn't really like they weren't 0:03:43.080 --> 0:03:45.320 a huge value to you. And by that I mean 0:03:45.360 --> 0:03:48.480 I wasn't going out and upgrading my apartment to get 0:03:48.520 --> 0:03:52.320 the better you know, the better location, the luxury unit 0:03:52.440 --> 0:03:56.280 with the washer dryer. That living in New York City, 0:03:56.360 --> 0:03:59.040 that's kind of like a status symbol, like, oh, you 0:03:59.040 --> 0:04:01.760 have a washer dryer in your building or in your unit. 0:04:02.160 --> 0:04:04.080 Like first of all, where do you live Jersey, because 0:04:04.120 --> 0:04:07.920 that's not happening in Manhattan. But unless you got real, real, real, 0:04:07.920 --> 0:04:11.560 real big money. But you want to improve your lifestyle. 0:04:11.760 --> 0:04:14.560 You want to go out more for drinks after work, 0:04:14.640 --> 0:04:17.279 You want to you want to go on those vacations, 0:04:17.320 --> 0:04:19.440 you know, you want to go to the Hamptons like 0:04:19.480 --> 0:04:22.479 you see and TV and sex and the city you know, 0:04:22.680 --> 0:04:24.960 in the summertime and escape the city and all of that. 0:04:25.080 --> 0:04:26.800 And you want to be able to. 0:04:27.360 --> 0:04:30.440 Do the big New Year's Eve celebrations and all the 0:04:30.480 --> 0:04:33.120 things that you know, think about when you associate with 0:04:33.200 --> 0:04:34.919 New York and what you do here and being in 0:04:34.960 --> 0:04:37.880 your twenties and all of that. But I really got 0:04:37.920 --> 0:04:40.080 quiet with myself in my twenties and I was like, 0:04:41.000 --> 0:04:45.520 I value financial freedom. I never want to go back 0:04:45.520 --> 0:04:49.520 to that fear and anxiety that I felt after I 0:04:49.600 --> 0:04:51.440 moved to New York and I got let go from 0:04:51.440 --> 0:04:53.360 my very first job. I was laid off like three 0:04:53.360 --> 0:04:56.120 months after I joined back in twenty ten, and I 0:04:56.200 --> 0:04:58.320 never wanted to feel like that again. And I said, 0:04:58.360 --> 0:05:03.120 I value feeling safe. I value feeling free to make 0:05:03.200 --> 0:05:05.760 decisions that I want to make, not because I'm desperate 0:05:05.800 --> 0:05:09.600 to find a job to keep my lifestyle. And that 0:05:09.720 --> 0:05:12.080 is what I would tell any twenty something today is 0:05:12.960 --> 0:05:16.760 start to get really clear on what you value, why 0:05:16.960 --> 0:05:21.520 you are making the choices you're making today financially, and 0:05:21.720 --> 0:05:23.440 how that's going to get closer to the goals that 0:05:23.560 --> 0:05:26.720 you value. So for me, I was like, yes, it's 0:05:26.839 --> 0:05:28.479 nice to go out. And don't get me wrong, I 0:05:28.520 --> 0:05:31.279 had hell of fun in my twenties. I had a 0:05:31.320 --> 0:05:35.799 big ass wedding that I paid for cash, thirty thousand 0:05:35.839 --> 0:05:39.240 dollars wedding in Savannah, Georgia that I have no regrets about. 0:05:39.480 --> 0:05:41.200 But I was only able to save up for that 0:05:41.240 --> 0:05:43.159 wedding and I didn't want to take on debt for 0:05:43.200 --> 0:05:47.159 that wedding. By making some serious lifestyle choices to enable me, 0:05:47.279 --> 0:05:49.720 like as I was increasing my income, my husband and 0:05:49.760 --> 0:05:52.520 I moved in with his family. For I think we 0:05:52.600 --> 0:05:54.919 lasted about eight months. It was, you know, did what 0:05:54.960 --> 0:05:57.359 I could with my in laws, my future in laws. 0:05:57.640 --> 0:05:59.640 But we were able to save and set aside cash 0:06:00.200 --> 0:06:01.839 that wedding so that you wouldn't be taking on a 0:06:01.839 --> 0:06:03.880 lot of debt. And that's not the choice that a 0:06:03.920 --> 0:06:06.600 lot of people make when they finally get to you know, 0:06:07.000 --> 0:06:08.799 at the time I was making I had just gotten 0:06:08.800 --> 0:06:10.600 a new job and was making over one hundred and 0:06:10.600 --> 0:06:13.960 fifty thousand dollars a year, and I chose to live 0:06:14.000 --> 0:06:16.640 like a broke like like I did, like I wasn't, 0:06:17.000 --> 0:06:18.720 you know what I mean? And I did it for 0:06:18.760 --> 0:06:21.359 a time so I could give myself something that I valued, 0:06:21.640 --> 0:06:25.280 you know later. So looking back on baby Mandy in 0:06:25.320 --> 0:06:27.919 her twenties, I would say, that's the smartest thing that 0:06:28.000 --> 0:06:32.000 she did. So get clear on your values, Chelsea. What 0:06:32.279 --> 0:06:33.800 do you where do you want to see yourself in 0:06:33.839 --> 0:06:36.600 ten years? And what financial choices can you make now 0:06:36.640 --> 0:06:39.520 to get yourself there? So for me, it was about 0:06:39.839 --> 0:06:44.560 keeping my debt low and setting early habits to invest. 0:06:44.720 --> 0:06:46.919 And I didn't focus on how much I was setting aside. 0:06:46.960 --> 0:06:49.760 I just focused on or how sorry I didn't focus 0:06:49.760 --> 0:06:52.400 on how much I was like making in the market. 0:06:52.520 --> 0:06:55.320 I just focused on setting a goal of I'm going 0:06:55.400 --> 0:06:59.120 to be contributing ten percent automatically, and I'm going to 0:06:59.160 --> 0:07:01.640 increase that by one percent each year, and I'm going 0:07:01.720 --> 0:07:04.760 to continue this habit. And the beautiful thing about just 0:07:04.839 --> 0:07:07.719 focusing on the habit of investing and just automating it 0:07:07.760 --> 0:07:10.680 and forgetting it is that as you earn more, like 0:07:10.720 --> 0:07:13.040 you're talking about, I'm working on a bigger bag right now, 0:07:13.240 --> 0:07:16.200 as the bag gets bigger, the cut that you're taking 0:07:16.200 --> 0:07:18.320 for your investments is going to get bigger right along 0:07:18.360 --> 0:07:21.920 with it. And as you grow, you know, get older, 0:07:22.040 --> 0:07:25.880 time goes on, those investments will grow, you know, in shallah, 0:07:25.880 --> 0:07:28.600 hopefully most of the time, they will grow. Right. So, 0:07:29.960 --> 0:07:31.840 if you can just get clear on your values and 0:07:31.920 --> 0:07:34.320 set the habits of saving and investing now, I mean, 0:07:34.320 --> 0:07:36.480 you're already going to be so so far ahead of 0:07:36.520 --> 0:07:40.520 your peers and really stick with those values. And remember, 0:07:41.200 --> 0:07:43.680 like when you start looking and getting tugged in other 0:07:43.720 --> 0:07:45.400 directions and people are trying to get you to do 0:07:45.480 --> 0:07:49.480 this bottomless brunch and take this vacation, like if it's 0:07:49.480 --> 0:07:52.520 not true to you and your goals like get really 0:07:52.880 --> 0:07:57.920 secure and strong in saying no and setting that boundary 0:07:58.360 --> 0:08:01.120 and letting your friends be a part of your life, 0:08:01.440 --> 0:08:03.680 be a part of your life in other ways that 0:08:03.760 --> 0:08:05.400 are of value to you. 0:08:05.400 --> 0:08:05.640 You know. 0:08:05.920 --> 0:08:08.600 For me, I like to take vacations. I like to 0:08:08.640 --> 0:08:11.160 travel with my friends, but I was going to keep 0:08:11.160 --> 0:08:12.760 it small and I was going to go with friends 0:08:12.800 --> 0:08:15.240 who wanted to vacation at my level, you know, who 0:08:15.280 --> 0:08:18.760 weren't going to pressure me into like spending extra for 0:08:19.000 --> 0:08:22.880 first class this, or you know, the luxury villa versus 0:08:22.960 --> 0:08:25.240 the smaller bed and breakfast, you know what I mean. 0:08:25.320 --> 0:08:29.720 So I think that that's also really important is making 0:08:29.720 --> 0:08:32.880 sure that the people you surround yourself with respect your values. 0:08:32.880 --> 0:08:34.880 They don't have to have the same values or want 0:08:34.920 --> 0:08:36.600 the same things you want, but they need to respect 0:08:36.679 --> 0:08:39.480 you and where you're coming from. What I also love 0:08:39.480 --> 0:08:42.440 about you, Chelsea, you personified brown ambition. You got your 0:08:42.440 --> 0:08:45.240 first full time, big, big girl career job that you said, 0:08:45.280 --> 0:08:47.880 but you also have your small your own small business 0:08:47.880 --> 0:08:51.800 on the side, having your own source of independent income. 0:08:52.040 --> 0:08:53.480 Oh baby, Mandy. 0:08:53.200 --> 0:08:55.000 Did this in her twenties and I love her for it. 0:08:55.040 --> 0:08:58.720 She started brand ambition, and you know, obviously went on 0:08:58.880 --> 0:09:01.920 to do other creative endeavors that I'm doing now in 0:09:01.960 --> 0:09:05.439 my thirties. But just starting something in your twenties and 0:09:05.480 --> 0:09:07.880 not thinking about I need to may become a millionaire. 0:09:07.920 --> 0:09:10.080 I need to have this business, you know, get I 0:09:10.120 --> 0:09:13.360 need to become a unicorn billionaire, you know, billion dollar business, 0:09:13.400 --> 0:09:16.360 something like that, but just starting something like there's no 0:09:16.440 --> 0:09:18.080 way you're gonna be able to enjoy the fruits of 0:09:18.080 --> 0:09:20.120 any labor if you never do the labor first, right, 0:09:20.160 --> 0:09:22.600 And sometimes some of us get psyched out by the 0:09:22.720 --> 0:09:25.480 goal that's seeming too large, Like if I start a business, 0:09:25.480 --> 0:09:27.319 it has to be perfect, it has to bring in millions, 0:09:27.360 --> 0:09:30.000 you know. But and then you let that psych yourself 0:09:30.000 --> 0:09:32.160 out and you never start it. But just starting to 0:09:32.679 --> 0:09:35.560 plant the seed of some kind of entrepreneurship in you're 0:09:36.520 --> 0:09:39.000 in your early twenties to bring an additional income for 0:09:39.080 --> 0:09:43.440 yourself that it's going to give you professional resilience, meaning 0:09:43.559 --> 0:09:47.120 your big girl job it doesn't love you back. I 0:09:47.200 --> 0:09:49.440 learned that very early in my twenties. The job does 0:09:49.520 --> 0:09:53.040 not love you back. So having your own source of 0:09:53.120 --> 0:09:57.560 find like financial your own source of income, so that 0:09:57.760 --> 0:10:01.520 you can protect yourself on top of having savings, having 0:10:01.600 --> 0:10:03.640 another source of income that's not tied to your nine 0:10:03.720 --> 0:10:06.880 to five makes you so much more resilient, So I 0:10:06.920 --> 0:10:09.600 think that that's excellent. I would definitely, you know, give 0:10:09.640 --> 0:10:12.920 my baby Mandy in her twenties, a huge, huge round 0:10:12.960 --> 0:10:17.240 of applause for always kind of staying independent and having 0:10:17.280 --> 0:10:20.040 something of her own, even as I gave my all 0:10:20.160 --> 0:10:22.960 to my employer, saving a little bit for myself as well. 0:10:22.960 --> 0:10:25.599 And I love that you're doing that too. But you 0:10:25.640 --> 0:10:27.920 sound like you're an amazing shape, Chelsea, and I'm so 0:10:28.040 --> 0:10:31.079 damn proud of you, and I can't wait, like right now, 0:10:31.080 --> 0:10:34.640 if I were you, I would just like be have 0:10:34.720 --> 0:10:37.040 a shit eating grin on my face at all times, 0:10:37.080 --> 0:10:40.080 because I know for a fact, Chelsea, and you need 0:10:40.120 --> 0:10:42.560 to know this too, that in another ten years, when 0:10:42.600 --> 0:10:45.200 you're my age thirty six, you are gonna be like 0:10:45.960 --> 0:10:47.840 doing it. You're going to be living the life that 0:10:47.840 --> 0:10:51.000 you're dreaming of right now, and you can be like 0:10:51.120 --> 0:10:53.400 me in whatever version of your life you want to 0:10:53.440 --> 0:10:57.040 be in. But reflecting back and saying thank you so much, 0:10:57.120 --> 0:11:00.440 twenty six year old Chelsea for making those choices, because 0:11:00.480 --> 0:11:03.000 now I am thriving and I am loving my life 0:11:03.040 --> 0:11:05.760 exactly as I wanted to. And I wish that for 0:11:05.880 --> 0:11:09.120 so so many of us out there. Right, So you 0:11:09.240 --> 0:11:10.520 got time on your side. 0:11:11.080 --> 0:11:12.040 Good for you. Girl. 0:11:12.520 --> 0:11:15.600 Listen, if you're listening to this show and you're thirty six, 0:11:15.679 --> 0:11:18.360 forty six, fifty six, and you're like, damn it, I 0:11:18.400 --> 0:11:22.040 wish I was Chelsea. Now you still got time. Age 0:11:22.080 --> 0:11:25.440 ain't nothing but a number. But you asked Chelsea about 0:11:25.440 --> 0:11:28.400 something I'd tell my twenty something self, you know. But 0:11:28.440 --> 0:11:31.440 the trick here is that no matter what age you are, like, 0:11:31.800 --> 0:11:34.600 start telling yourself these lessons now and in another ten 0:11:34.679 --> 0:11:37.120 years we all have, you know, we don't know how 0:11:37.160 --> 0:11:38.440 much time we're going to get. We hope we have 0:11:38.520 --> 0:11:41.079 lots of time, right, and I do believe that it's 0:11:41.120 --> 0:11:44.520 never too late to start making changes and start changing 0:11:44.559 --> 0:11:47.319 your approach to money and to your career and your 0:11:47.360 --> 0:11:51.320 finances so that you can thrive and start a new 0:11:51.600 --> 0:11:54.559 you know, a new chapter for yourself. So I hope 0:11:54.600 --> 0:11:57.880 that this was helpful, Chelsea, and thanks for giving me 0:11:57.920 --> 0:12:00.959 a chance to reflect. And you know, pat baby Mandy 0:12:01.000 --> 0:12:03.960 on the shoulder for doing the damn thing. And I 0:12:03.960 --> 0:12:06.880 hope in another ten years I'll be just as proud 0:12:06.920 --> 0:12:08.880 of who I am now, for making the decisions that 0:12:08.960 --> 0:12:10.880 I am now that are going to help me continue 0:12:10.880 --> 0:12:13.520 thriving in my forties and beyond. I'm going to take 0:12:13.520 --> 0:12:16.200 a quick break and be right back with question number two. 0:12:19.320 --> 0:12:24.240 And I'm back and I'm black and I'm brown ambition. 0:12:24.280 --> 0:12:28.040 Shit, I'm back and I'm black and I'm brown Ambish. 0:12:28.080 --> 0:12:32.280 Shit. I'm black and I'm black and I'm brown ambition. 0:12:33.360 --> 0:12:35.559 Don't you wish we could be friends? 0:12:35.760 --> 0:12:41.240 Hey? Okay, so we are back for question new it all? Dude. 0:12:42.720 --> 0:12:45.400 I was talking to one of my mentees today that 0:12:45.520 --> 0:12:49.160 recently just lost his grandmother a couple of days ago, 0:12:49.200 --> 0:12:51.120 so just had me thinking about grief all over again. 0:12:51.760 --> 0:12:56.120 And he has been in business for a couple of years, and. 0:12:57.600 --> 0:13:00.920 You know, he's been having a hard time, and he 0:13:01.000 --> 0:13:05.120 was just asking, like, how do you just even start, Tiffany. 0:13:05.640 --> 0:13:07.320 You know, like he's it's been like, I think like 0:13:07.360 --> 0:13:09.600 five years. He's made a little money here there, you know, 0:13:09.679 --> 0:13:13.400 and it's like not from this big budget niece to 0:13:13.480 --> 0:13:16.080 space where like I have an access and knowledge of dad, 0:13:16.400 --> 0:13:18.800 how do you just start? And so me answering the 0:13:18.880 --> 0:13:20.920 question for him, and it's funny because he called me. 0:13:20.960 --> 0:13:23.120 And then I have another mentee who has like a 0:13:23.160 --> 0:13:24.640 business that you probably know if I say it, but 0:13:24.679 --> 0:13:27.120 still he was kind of struggling too. He has a 0:13:27.160 --> 0:13:28.960 business with his wife, and I was like, I know 0:13:29.000 --> 0:13:30.800 his wife for a long time, and we were talking 0:13:30.800 --> 0:13:32.280 on the phone for like an hour, and I was 0:13:32.360 --> 0:13:34.719 just kind of pouring into him, and I thought, this 0:13:34.800 --> 0:13:38.280 is going to be a good question to answer, like 0:13:38.880 --> 0:13:44.360 how how do you how do you start, you know, 0:13:44.559 --> 0:13:48.040 how do you start to walk towards success in business? 0:13:48.080 --> 0:13:52.120 And what both of them they both have businesses that 0:13:52.440 --> 0:13:56.640 very much are good for the community, you know, like 0:13:56.679 --> 0:13:59.480 it's good for our community, Like these are black centric 0:13:59.600 --> 0:14:04.200 focus businesses that are meant to uplift and uphold and 0:14:04.400 --> 0:14:09.200 enhance and empower our communities. And so they've been doing 0:14:09.280 --> 0:14:12.680 that work for a number of years and they're like, 0:14:12.760 --> 0:14:16.480 but I'm not making sustainable money. And this lesson took 0:14:16.520 --> 0:14:18.319 me a long time to learn. 0:14:18.600 --> 0:14:19.720 But you've been a learner. 0:14:19.760 --> 0:14:22.080 Tip that you can't go get you a notebook, go 0:14:22.200 --> 0:14:26.600 get you a notebook. So here's a lesson I had 0:14:26.680 --> 0:14:30.200 to learn because I too have a community based business 0:14:30.960 --> 0:14:34.760 that doing a good job with the community side is 0:14:34.800 --> 0:14:41.040 not the same thing as making money. I know. It's like, what, Okay, 0:14:41.200 --> 0:14:44.680 you have to have an impact plan if that's what 0:14:44.720 --> 0:14:46.720 you so desire, and then. 0:14:46.640 --> 0:14:50.320 A separate income plan. 0:14:51.960 --> 0:14:54.520 Many of us who start businesses to be of service 0:14:54.560 --> 0:14:56.960 to our people, we already have the impact plan. We 0:14:57.040 --> 0:14:59.120 know it's built into our DNA or you I'll get 0:14:59.120 --> 0:15:02.920 a help right and then like, and I know it 0:15:02.960 --> 0:15:06.520 took me four or five years of perfecting my impact 0:15:06.560 --> 0:15:10.000 plan and wondering why I was still broke before I 0:15:10.040 --> 0:15:13.280 realized I don't actually have a plan to make money. 0:15:13.480 --> 0:15:16.880 I just assume if I make the bigger the impact 0:15:16.920 --> 0:15:20.120 money would come. Is say, lie, maybe every once in 0:15:20.120 --> 0:15:21.160 a while you get a little lucky. 0:15:21.160 --> 0:15:22.480 You're almost like you hit a lick. 0:15:23.520 --> 0:15:25.760 But the truth of the matter is that's not actually 0:15:25.800 --> 0:15:28.760 how it works. Like, that's really actually not how it works. 0:15:28.760 --> 0:15:33.240 That like you have to have a separate income plan. 0:15:33.400 --> 0:15:36.520 Here's a crazy thing. You can have major impact make 0:15:36.600 --> 0:15:39.880 no money. You can have all this income and not 0:15:39.960 --> 0:15:41.720 have impact on people in a positive way. 0:15:42.000 --> 0:15:42.840 That's the crazy part. 0:15:42.960 --> 0:15:44.440 Like you could if you could literally just have an 0:15:44.440 --> 0:15:46.080 income plan and have a successful business. 0:15:46.360 --> 0:15:48.040 But how you want to sleep at night? Because I 0:15:48.120 --> 0:15:48.800 sleep good. 0:15:49.320 --> 0:15:53.000 So I like to have an impact and an income plan. Okay, now, 0:15:53.120 --> 0:15:54.960 how you and yours do in your household, that's up 0:15:55.000 --> 0:15:57.560 to you. But what I'm saying is is that you 0:15:57.760 --> 0:16:01.920 always have to have an income plan. How will I 0:16:02.160 --> 0:16:06.840 make money? Separate from the impact, How will I make money? 0:16:06.920 --> 0:16:09.480 And so I started. Once I realized that I started 0:16:09.480 --> 0:16:11.000 to really look at I'm like, Wow, all the things 0:16:11.040 --> 0:16:13.000 I'm doing to create impact, none of these. 0:16:12.920 --> 0:16:14.400 Things make me money. 0:16:14.600 --> 0:16:17.640 And if I'm being honest, the budget Niza, which is 0:16:17.640 --> 0:16:20.640 my first business, my first baby, I still struggle with 0:16:20.680 --> 0:16:24.480 them because my first mind is always impact, impact, impact. 0:16:24.480 --> 0:16:26.720 I'll give you an example. I recently did a wealth 0:16:26.760 --> 0:16:29.720 walk in Maryland, and so my wealth walk went really good. 0:16:29.760 --> 0:16:32.280 Like the first wealth walk I had in Jersey, I 0:16:32.280 --> 0:16:34.160 think like fifty people showed up, which was nice. 0:16:34.200 --> 0:16:35.520 We just walked and talked about money. 0:16:35.800 --> 0:16:37.520 The second walk I had a Mayland, about one hundred 0:16:37.520 --> 0:16:39.280 people showed up, and then this time we went live 0:16:39.320 --> 0:16:40.960 and four thousand people showed up live. 0:16:41.720 --> 0:16:43.640 It went great, But the. 0:16:43.520 --> 0:16:47.840 Wealth Walk is impact, and it was such a heavy 0:16:47.880 --> 0:16:49.720 lift for my team, and it cost me money to 0:16:49.720 --> 0:16:51.680 fly out there and to get a hotel to hire 0:16:51.720 --> 0:16:52.880 the photographer and Da da. 0:16:52.800 --> 0:16:57.400 Da da dah. There was no income menia and people 0:16:57.480 --> 0:16:58.760 keep saying, ooh, can you do a wealth walk? 0:16:58.840 --> 0:17:01.400 Kick you, I can't afford to do that, and I'm 0:17:01.400 --> 0:17:04.119 struggling with I want to do more wealth walks because 0:17:04.119 --> 0:17:07.080 they were It was so amazing because one y'all know, 0:17:07.119 --> 0:17:10.600 I've been a walking child, right, snches since has been getting. 0:17:10.359 --> 0:17:11.320 Snatched, right. 0:17:11.880 --> 0:17:14.800 And I know for our community, especially for black and 0:17:14.800 --> 0:17:17.959 brown people, but especially for black women, the impact of 0:17:18.160 --> 0:17:23.600 like of distress and diabetes and high blood pressure and hypertension, 0:17:23.680 --> 0:17:26.040 all these things we carry in our body, that walking 0:17:26.680 --> 0:17:30.080 is a great tool that for the majority of us, 0:17:30.200 --> 0:17:34.280 is not overly taxing. You know, it's a community based activity. 0:17:34.280 --> 0:17:36.119 It's so good for your legs and your limbs, and 0:17:36.119 --> 0:17:38.439 also for most people, not everyone. I know that everyone 0:17:38.520 --> 0:17:40.760 is not able. But the beautiful part about the Wealth 0:17:40.800 --> 0:17:44.360 walk is that we walk and then those who could 0:17:44.400 --> 0:17:48.199 not walk, we came back anyway to a you know, safe, 0:17:48.680 --> 0:17:51.399 secure place, and then we talk about money. And the 0:17:51.480 --> 0:17:54.480 last one I did was with the counsel Counselman at 0:17:54.560 --> 0:17:59.000 Large Will Juando in Maryland, and he talked about how 0:17:59.040 --> 0:18:03.679 to how to lean into legislation and your politicians in 0:18:03.720 --> 0:18:05.520 a way that will impact your wealth. 0:18:05.800 --> 0:18:06.720 So it was awesome. 0:18:06.800 --> 0:18:09.680 I mean, Will was so knowledgeable from how to get 0:18:09.720 --> 0:18:12.399 money for your businesses to how to purchase a home 0:18:12.920 --> 0:18:14.760 using the tools available to you in your state. 0:18:14.800 --> 0:18:20.800 It was just so impactful. No income, all of that awesome. 0:18:20.880 --> 0:18:22.399 And I know if I do the next one two 0:18:22.480 --> 0:18:24.080 hundred and the next one three hundred and next one 0:18:24.080 --> 0:18:29.840 front and no income, and I realize, okay, I have 0:18:29.880 --> 0:18:32.159 to have an income plan. And so some of the 0:18:32.160 --> 0:18:33.879 things I can do is I can sell T shirts 0:18:33.880 --> 0:18:34.840 like Wealth Walk T shirts. 0:18:34.840 --> 0:18:35.560 I thought about that. 0:18:36.520 --> 0:18:40.399 Also, I can say, hey brands, hey brands, looking like 0:18:40.440 --> 0:18:44.040 you always do, why don't you sponsor or Wealth Walk? 0:18:44.280 --> 0:18:47.359 Because you get these people in person one hundred, two hundred, 0:18:47.359 --> 0:18:49.720 three hundred, and then on top of that, you get 0:18:49.880 --> 0:18:52.840 thousands of people watching the walk the talk part of 0:18:52.840 --> 0:18:55.920 the Wealth Walk, and so there's like, you know, potential 0:18:55.920 --> 0:18:57.080 for sponsorship there. 0:18:58.440 --> 0:18:59.720 So I have not done those things yet. 0:18:59.720 --> 0:19:02.440 But what I'm saying is that even me a season entrepreneur, 0:19:02.480 --> 0:19:04.520 fifteen years in the game, I still struggle with the 0:19:04.560 --> 0:19:06.200 income impact component. 0:19:06.359 --> 0:19:11.479 Okay. And so I was telling my mentees about so 0:19:11.520 --> 0:19:13.680 here's how I had him start and hopefully these these 0:19:13.720 --> 0:19:16.400 will help for you. You ready, get shippad down. 0:19:16.520 --> 0:19:19.200 I know you probably driving the car, and to pull 0:19:19.200 --> 0:19:20.639 over to the side of the road, get your pen on, 0:19:21.320 --> 0:19:21.760 and say. 0:19:21.600 --> 0:19:22.320 Here are the steps. 0:19:22.600 --> 0:19:25.960 One I always visualize whenever I'm trying to reach your goal. 0:19:26.240 --> 0:19:29.679 I always visualize a white board, typically a corkboard, and 0:19:29.720 --> 0:19:32.439 I say, put your numbers on the board. So I 0:19:32.480 --> 0:19:35.639 want you to visualize a whiteboard or a corkboard and 0:19:35.680 --> 0:19:38.119 put a number at the top of the board. And 0:19:38.160 --> 0:19:40.399 so that number can be a number of people you 0:19:40.400 --> 0:19:42.320 want to sign up for your email list or whatever. 0:19:42.320 --> 0:19:44.760 But we're talking about income right now. So we're gonna 0:19:44.760 --> 0:19:47.360 put an income number on the board. And it has 0:19:47.440 --> 0:19:47.919 to be. 0:19:49.800 --> 0:19:53.600 Folk. It has to be based on something concrete. 0:19:54.280 --> 0:19:57.920 So for one of my mentees, it was based upon 0:19:58.000 --> 0:20:00.760 he was filing some paperwork for his big or whatever, 0:20:01.040 --> 0:20:02.720 and like he had some lawyer fees and blah blah 0:20:02.720 --> 0:20:05.280 blah blah, and I was like, add up those fees 0:20:05.320 --> 0:20:09.119