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Speaker 2: It was the new game day scratches from the California
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Speaker 3: Everything.
Speaker 4: Those games sent the team's energy through the roof.
Speaker 1: Are you saying it was the off field play that
Speaker 1: made the difference on the field.
Speaker 4: Hey, little play makes your day, and today it made
Speaker 4: the game. That's all for now, coach, one more question.
Speaker 1: Play the new Los Angeles Chargers, San Francisco forty nine
Speaker 1: Ers and Los Angeles Rams scratchers from the California Lottery.
Speaker 1: A little play can make your day. Peace made responsibly.
Speaker 1: Must be eighteen years or older to purchase late or claim.
Speaker 5: All right, guys, welcome back another exciting episode EYL.
Speaker 3: The Virtual Edition.
Speaker 5: Virtual Edition. Yeah, so you know we're getting better.
Speaker 3: Yeah.
Speaker 5: Sure, this is our second virtual episode. So you know
Speaker 5: we all worked out the kinks the first one.
Speaker 4: Yeah.
Speaker 3: Yeah, so now we're trying one. Yeah.
Speaker 6: You know, when as it will as a way, we're
Speaker 6: gonna get it done.
Speaker 5: So, you know, as I said, we try to facilitate
Speaker 5: people and topics that we get requested for, and you know,
Speaker 5: this is definitely a topic that we have gotten requested
Speaker 5: like a lot of times to cover like finance tip,
Speaker 5: A lot of time to talk about like all kinds
Speaker 5: of high level stuff. But it's important for everybody, not
Speaker 5: just regular every day people. Everybody to have the fundamentals.
Speaker 5: Like I used to play sports, and they and my coaches,
Speaker 5: so as you say, like before you do trick shots
Speaker 5: and before you do you gotta learn the fundamentals. So
Speaker 5: our guest today is the fundamental Champion Crown, the Tiffany Aliche.
Speaker 5: So she's better known as budget Nista on Instagram and
Speaker 5: Facebook and all over the internet. So a real, a
Speaker 5: real force of nature. She's been all over the place,
Speaker 5: the real but more in America, I believe for black enterprise.
Speaker 5: She has something that she's doing with own open network.
Speaker 5: We just got finished talking about that.
Speaker 3: Street Journal New York Times.
Speaker 5: Yeah, she's she's she's a published author, she wrote several
Speaker 5: books today, she has an own academy, she has an
Speaker 5: extensive community on social media.
Speaker 3: And she started that education preschool.
Speaker 6: Yeah, we're gonna talk to that.
Speaker 5: So yeah, so the budget needs to If you follow
Speaker 5: her Instagram, you know she gives all kinds of tips
Speaker 5: from retirement planning, to budgeting, to paying off debt to
Speaker 5: just you know, practical tips, that financial tips, understanding credit,
Speaker 5: understanding credit, all kinds of stuff. So yeah, you know
Speaker 5: this is right up our alley as far Alisia. So
Speaker 5: first and foremost, thank you, thank you for joining us.
Speaker 6: Appreciate it, so.
Speaker 4: Thank you for having me. This is dope. I listened
Speaker 4: to y'all. Remember when Black and Parts did that article
Speaker 4: on y'all. Al was like, let me.
Speaker 6: Let me listen shout that was a minute ago. That
Speaker 6: was that was crazy.
Speaker 4: So I put it all in my rotations. I like
Speaker 4: listening to the podcast and then I saw you have
Speaker 4: my brother from another mother, Ash cast that.
Speaker 3: Oh yeah, yeah, yeah, that's our guy.
Speaker 6: We had him on two podcasts. We had him on
Speaker 6: two podcasts.
Speaker 5: He did a live podcast for us in DC and
Speaker 5: then he did the Regular So shout out to Ash
Speaker 5: cash Man.
Speaker 6: He's a he's a good guy.
Speaker 3: For university too. Yeah, he's a regular. He's a regular.
Speaker 3: That's our brother.
Speaker 4: Ye.
Speaker 5: So so Tiffany, can we should I call you Tiffany
Speaker 5: or budgonesa?
Speaker 6: Which one do you prefer?
Speaker 4: I mean, you call me whatever, but like you got
Speaker 4: me budgetestas you know, that's the Brandon.
Speaker 6: Sorry, call you whatever. Just don't call you broke.
Speaker 3: That's a fact.
Speaker 5: So so all right, Kim, you got a very interesting
Speaker 5: backstory because I actually watched it on your on your
Speaker 5: website and a lot of people that we bring on
Speaker 5: the podcast are from humble beginnings or that financial literacy
Speaker 5: was not taught to them. They're like first generation learning
Speaker 5: about financial literacy. But you, you was actually interesting for
Speaker 5: a few different reasons. A, you were a teacher like Troy,
Speaker 5: you taught young kids preschool, I believe. But you said
Speaker 5: your father actually instilled financial literacy and you at an
Speaker 5: early age he was accounting in the CEOs And so
Speaker 5: can you talk about that your journey from you know,
Speaker 5: growing up in a household of financial literacy to becoming
Speaker 5: an educator to now becoming an entrepreneur.
Speaker 4: Yeah, so yeah, you had it write. My dad was
Speaker 4: a CFO and an accountant, and he and my mom
Speaker 4: both immigrated from Nigeria shout out Eboku and so they
Speaker 4: so my dad was like really like kind of like
Speaker 4: the academic when it came to financial education. So like
Speaker 4: sit down to they let me show you how to budget,
Speaker 4: Let me show you like how to He would like
Speaker 4: do a budget like in his ledger book, you know,
Speaker 4: let me show you how to use my calculator with
Speaker 4: the paper coming out the back. And my mom was
Speaker 4: more like real life application, like we go on food
Speaker 4: shopping and we negotiating, we can you know. And so
Speaker 4: so I'm one of five girls, so you know, we
Speaker 4: have five kids, budgets a way.
Speaker 3: Of life that's a lot extreme exactly.
Speaker 4: So I just grew up, like we didn't shy away
Speaker 4: from money talk in the house. So it was odd
Speaker 4: to me when I got older and I was like,
Speaker 4: y'all don't have Thursday night money class. What'sy'all been doing
Speaker 4: on Thursday nights? You know? So it was odd to
Speaker 4: me when I got older how people were so fearful
Speaker 4: to talk about money because I didn't grow up with
Speaker 4: this knee jerk reaction like we don't talk about money here,
Speaker 4: or we don't share the ups and downs. Like I
Speaker 4: can't remember one Christmas my dad, I think it was
Speaker 4: like November December here. His his job was closing down,
Speaker 4: and he was like, so for Christmas, you know, we
Speaker 4: won't we won't have Christmas in December. Instead, we're going
Speaker 4: to push it to the end of January, right, And
Speaker 4: I was like, all right, So we put up the
Speaker 4: tree like January twenty fifth, and it was like presents abound,
Speaker 4: So there was He was really good and my parents
Speaker 4: were really good at talking about money in a way
Speaker 4: that was kid appropriate but not assigning negativity to it.
Speaker 4: So it wasn't like it ain't gonna be no Christmas. We
Speaker 4: ain't got it. It was like, so daddy's job closed
Speaker 4: because they had a strike, So this is what's happening,
Speaker 4: and then this is the immediate solution. So I was
Speaker 4: kind of like, okay, So that was a way of life,
Speaker 4: and when it wasn't until really I got to college
Speaker 4: and my college roommate shout out to her. I won't
Speaker 4: say your name, girl, because we're still Facebook friends, but
Speaker 4: she was getting deck collectors call in the dorm room
Speaker 4: and we thought it was hilarious because I mean, we're kids, dumb,
Speaker 4: so they would call and we were like, we would
Speaker 4: pretend different names and we were put on different voices,
Speaker 4: and I thought it was hilarious. And I went home
Speaker 4: telling my dad like, yo, so I just just has
Speaker 4: deck collectors call in the room and he was like, yo,
Speaker 4: that's serious, and I'm like it was like, y'all are
Speaker 4: violent when you go back, tell her to say this, this, this,
Speaker 4: and this, and I was like, okay, and so I did.
Speaker 4: So it turned out that her mom, who was a
Speaker 4: single mom and trying her best, had opened up credit
Speaker 4: cards in her name. So I had never even heard
Speaker 4: of that before. And so that was kind of like
Speaker 4: the first time that I realized that, not that I
Speaker 4: mean my parents, we didn't have a lot of money.
Speaker 4: You can't have a lot of money with five kids
Speaker 4: for the most part, So it wasn't mad we grew up.
Speaker 4: I remember roaches and things, you know, when we was
Speaker 4: real little, So it's not that we had a lot
Speaker 4: of money, but there was a lot of knowledge, and
Speaker 4: so I didn't realize that that was truly the difference.
Speaker 4: And not that like I said, I didn't grow up
Speaker 4: having a lot, but I grew up learning a lot
Speaker 4: and I took that with me and after college. In college,
Speaker 4: I didn't know what I wanted to do, so I
Speaker 4: chose business randomly because I figured, I guess I could
Speaker 4: get a job with that, but I really fell in
Speaker 4: love with teaching on campus. To make extra money, I
Speaker 4: started working as a childcare center and I was like, oh,
Speaker 4: I like this, this is fun. I could be wild
Speaker 4: that could be my crazy self. Like if you know me,
Speaker 4: I'm like a little on wild side. And I'm like,
Speaker 4: because all of my internships were so boring and I'm everything,
Speaker 4: I'm gonna die here in corporate America. They're not gonna
Speaker 4: have me. I was so dramatic. They not gonna take
Speaker 4: my soul. So I was like, Okay. After graduation, it
Speaker 4: was like one year away when I realized I didn't
Speaker 4: want to work in corporate America, and so I decided
Speaker 4: and instead I'm going to be a teacher. So I
Speaker 4: went back and got my certification. And in the meantime,
Speaker 4: I said, well, back then, you could do this. I
Speaker 4: don't think you could do it now, but you could
Speaker 4: teach preschool with a college degree. You didn't have to
Speaker 4: be certified. I believe now you have to have certification.
Speaker 4: So I said, okay, it's nine months for certifiction. I'll
Speaker 4: teach older grades after that, but in the meantime, I'll
Speaker 4: teach preschool. But I ended up falling in love with
Speaker 4: that age and I stayed there for ten years and
Speaker 4: I loved it, and I wasn't making much. I remember
Speaker 4: my corporate internship job after graduating and offered me fifty
Speaker 4: thousand dollars a year, and the teaching job offered me
Speaker 4: thirty nine thousand. And that's when I realized the importance
Speaker 4: of financial education because I was like, I could take
Speaker 4: the fifty and hate my life, or I could take
Speaker 4: the thirty nine and love my life but not make
Speaker 4: as much. So I took the thirty nine and I
Speaker 4: freaked it andd it.
Speaker 3: I like that. I liked that.
Speaker 4: In two years, I saved forty thousand dollars. I bought
Speaker 4: a condo. I bought my car in cash. I had
Speaker 4: like this little Putt Putt twenty nineteen Nissan Ultima, but
Speaker 4: it was paid off in cash. So I had forty
Speaker 4: thousand dollars. Say I bought a condo, I had my
Speaker 4: master's I was honestly I had money. Say that was
Speaker 4: maxim out my retirement account and was doing all the
Speaker 4: right things so much so I decided, Okay, it's time
Speaker 4: for me to start investing for wealth, not just retirement.
Speaker 4: So this is back in the day when I used
Speaker 4: to believe that if you look like you have money,
Speaker 4: you have money. So one of my friends, i'll call him,
Speaker 4: I call him Jacob Defet. His name is not Jacob,
Speaker 4: but he's in jail now, so m hmm. So he
Speaker 4: was my I thought he was my boy, and I thought, yo,
Speaker 4: Jacob got money, lay pol I member. He had a
Speaker 4: penthouse in New York, I mean dressed tailored down. And
Speaker 4: I was like, yo, Jacob, you clearly have money. Teach
Speaker 4: me how to invest. And he was like, okay, you
Speaker 4: look like a sucker, I mean an investor. And so
Speaker 4: he was like, you know, the best way to invest
Speaker 4: is other people's money. Do you have credit cards? I
Speaker 4: was like one, but they don't really have much of
Speaker 4: a balance because my dad would out a balance a limit.
Speaker 4: My dad had already taught me that you pay off
Speaker 4: your credit cards every month in fall. So I had one,
Speaker 4: and so he was like, nai, yo, you got a
Speaker 4: good credit, open up like three of them joys. Okay,
Speaker 4: opened them up and I had like high limits, five thousand,
Speaker 4: ten thousand. He's like, take that money off, we go
Speaker 4: on best with that money. I all that money. I
Speaker 4: gave it to Jacob, the damn thief, and he was gone.
Speaker 4: And here I was with thirty five thousand dollars in
Speaker 4: credit card debt, like overnight, and I just remember being
Speaker 4: like wait what And I was hot and then I
Speaker 4: remember I was like, nio, I'm gonna get the boys
Speaker 4: on Jacob. Like so I was searching for Jacob. And
Speaker 4: then the recession hit, and all of a sudden, in
Speaker 4: my school where I worked, they were like, yeah, so
Speaker 4: new school year, it's not happening, so you know, good
Speaker 4: luck to you. I was like, so wait, now our
Speaker 4: old thirty five thousand dollars in debt. I had just
Speaker 4: got my master so now I also had a fifty
Speaker 4: plus thousand dollars like master's degree from Seaton Hall University
Speaker 4: that had to pay off. I have a mortgage, credit
Speaker 4: card debt for the first time, and no job. All
Speaker 4: of a sudden, it was like really bad. And I
Speaker 4: went from all of a sudden being Tiffany who was
Speaker 4: so good with my money, to Tiffany who's broke. And
Speaker 4: it was hard to like dig my way out. And
Speaker 4: it took me a while to kind of forgive myself
Speaker 4: for the mistakes because I blamed Like, I mean, it's
Speaker 4: one thing to take responsibility, it's another thing to blame yourself.
Speaker 4: So I told myself, you have to take responsibility, but
Speaker 4: you have to you got to get tired of kicking
Speaker 4: yourself while you're down, girl, Like, okay, we get it.
Speaker 4: You ain't cant nobody you know, you made a mistake.
Speaker 4: You were in your early twenties. These things happened. So
Speaker 4: I leaned on what I knew. I knew how to budget,
Speaker 4: I knew how to save, I knew how to like
Speaker 4: the fundamentals that had learned at home. I leaned on that.
Speaker 4: And it was the recession, the two thousand and eight
Speaker 4: two thousand and nine procession. I moved back home with
Speaker 4: my parents. I was twenty nine going on thirty, sleeping
Speaker 4: in my sh medium middle school bed, like yo, this
Speaker 4: can't be life. But it was. And from there I
Speaker 4: started to just like build myself back up, and people
Speaker 4: started asking me like yo, because they had already known
Speaker 4: me before. I used to help my family and friends
Speaker 4: with their budgets and things like that, and I used
Speaker 4: to volunteer doing so, like I would help the parents
Speaker 4: of my preschoolers with their finances, but just like something,
Speaker 4: you know, light work. But I realized that during a recession,
Speaker 4: people needed that assistance, and so I'm like friends would
Speaker 4: ask and friends of friends and friends of friends of friends,
Speaker 4: and then Finally, my best friend was like, you should,
Speaker 4: you should start charging and I'm like, can you do that?
Speaker 4: And my baby sister gave me the name Budgetisa because
Speaker 4: she was being shady. She said, oh, you know the fashionista.
Speaker 4: I said, yeah, she said, that's not you. I was like,
Speaker 4: you know what, I like it, so Budgetisa. It was
Speaker 4: who's laughing now, Lisa? So yeah, So I started the
Speaker 4: Budgetnisa and it was started off as one on ones
Speaker 4: and then I started partnering with organizations like the United
Speaker 4: Way Boys and Girls Club, and then I started working, like,
Speaker 4: you know, speaking at colleges and then Prudential. Before I
Speaker 4: knew it, social media started to be less about what
Speaker 4: you ate for dinner and lunch, and more and more
Speaker 4: people businesses started to come online, and so I started
Speaker 4: to lean in to like using online to grow my business,
Speaker 4: and the Budgetnisa was booming. It actually does really well.
Speaker 4: I realized that this financial education space does really well
Speaker 4: during recessions, and so yeah, it was booming, and it
Speaker 4: really I'm grateful for those hot hard times because it
Speaker 4: also humbled me and it taught me what people were
Speaker 4: really feeling when they were messing up financially. Because I
Speaker 4: didn't get that before because I had been financially perfect
Speaker 4: up until like my mid twenties, and once I went
Speaker 4: through financial hard times, when someone tells me I lost
Speaker 4: my house to foreclosure, I'm like, I know what that
Speaker 4: feels like because I've been there, Or like, yo, I
Speaker 4: don't have enough money for groceries. I'm like, I know
Speaker 4: what that feels like. And so I'm glad for those
Speaker 4: times because it allows me to truly be of service
Speaker 4: and to serve from a place of empathy, not just sympathy.
Speaker 3: A lot of game.
Speaker 7: First of all, Happy Teacher Appreciation Week. Once a teacher,
Speaker 7: always a teacher. I want to go back to what
Speaker 7: you said about investing for wealth versus investing for retirement.
Speaker 7: Especially with my colleagues in the field of education, all
Speaker 7: they think about is retirement.
Speaker 3: They don't really think about long time wealth.
Speaker 7: How'd you get people in that mindset, especially around you
Speaker 7: at that time.
Speaker 4: To start well? And during the recession, everybody wide open,
Speaker 4: everybody because it's like struggle time. So everyone's like, I
Speaker 4: need help, I need help, I need help. And they
Speaker 4: realized that some of the everyone's not broke because of COVID,
Speaker 4: A lot of folks know that they struggling because of
Speaker 4: things before COVID, That COVID was really like a magnifying
Speaker 4: glass on Yeah, you you know, you was already here.
Speaker 4: Cis like you, you know, your bank account was already
Speaker 4: on love Love, And so it wasn't hard to get
Speaker 4: people in the mindset because people were really open. Like honestly,
Speaker 4: it was just like, hey, who does help with budgeting?
Speaker 4: I do, because if you can't beat your kids and
Speaker 4: you can't pay your bills, you're ready to learn, you know.
Speaker 4: So that part was honestly easy. It's hard. It's hard
Speaker 4: doing great times to get people to get on board
Speaker 4: because before two thousand and eight financial crash, nobody wanted
Speaker 4: to hear me talk about budgeting and living. Simply none
Speaker 4: of my friends cared. But like you know, when you
Speaker 4: lose your job and there's no money in the savings
Speaker 4: account and the checking account, you know, people were open.
Speaker 4: So that's that's really what it was. It was the
Speaker 4: times like it was. It was like there was like
Speaker 4: a crack in the matrix and I slipped in. It
Speaker 4: was perfect timing for what I was bringing to the table.
Speaker 4: It was things that I had already said already, like
Speaker 4: even now like our business. You know, we had the
Speaker 4: best April ever, like the best month ever, ever, ever
Speaker 4: in ten years of business. And it's because people are
Speaker 4: open right now, because we're in what looks like to
Speaker 4: be the start of a recession.
Speaker 5: So let me ask you this. You was making thirty
Speaker 5: nine thousand dollars a year and in two years you
Speaker 5: said you saved forty thousand and you maxed out your
Speaker 5: full your retirement plan. How is that possible? Because like, yeah,
Speaker 5: how is that even possible?
Speaker 4: Well, see, one of the things I did was it's
Speaker 4: the before, the before. So what most people do they
Speaker 4: graduate college, They're like, yo, I got to stun maybe
Speaker 4: a core and I was like, I need a car too.
Speaker 4: But what I'm not going to do is get the
Speaker 4: twenty thousand dollars car with the car Nome. Instead, I stayed.
Speaker 4: I stayed home my first year after graduating in college
Speaker 4: because even though living with Nigerian parents, I know, joke,
Speaker 4: because it's still like, why are you going It's to midnights.
Speaker 4: I'm like, it's hey, what are you doing in these streets?
Speaker 4: In the streets but so so, but I was like,
Speaker 4: I'm willing to take the short term l for the
Speaker 4: long term, w tweeted at the Buchanista. So, so that's
Speaker 4: what I did. I stayed home for a year, and
Speaker 4: I remember at the time, I didn't even I wasn't
Speaker 4: even making the thirty nine thousand. I was making I
Speaker 4: think fourteen dollars an hour. But I knew one thing.
Speaker 4: I had pay rent and I didn't have a car
Speaker 4: at the time, but I wanted to save up, so
Speaker 4: I was making h I want to say I probably
Speaker 4: was making like maybe like two thousand dollars a month
Speaker 4: or something like that, or maybe not even maybe like
Speaker 4: fourteen or fifteen hundred dollars a month, but I was
Speaker 4: saving about nine hundred dollars a month when I stayed
Speaker 4: home that first year out of college. That's ad a mistake.
Speaker 4: I know everybody doesn't have this opportunity, but I'm sharing
Speaker 4: because people always get mad like I can't do that.
Speaker 4: Since you ask me my story. So I stayed home
Speaker 4: because I was able and my parents said, you don't
Speaker 4: have to pay rent. I used to ride my bike
Speaker 4: to go teach at the local daycare center. It was
Speaker 4: in Plainfield, New Jersey, and I was making, like I said,
Speaker 4: fourteen or fifteen dollars an hour, making like I think
Speaker 4: sixteen hundred dollars a month. Save saved that nine hundred
Speaker 4: dollars a month, and at the end of the year,
Speaker 4: I had like ten thousand, eight hundred. So with that
Speaker 4: ten thousand, eight hundred, I told my dad, Okay, I
Speaker 4: want to get a car. He was like, well, lesson, adult,
Speaker 4: lesson number one, do not get a new car. It's
Speaker 4: a waste of money. They'd depreciate. It's a losing investment.
Speaker 4: It's not an investment. It's a liability means liabilities well
Speaker 4: y'all know, but just audience ability to take money out
Speaker 4: your pocket.
Speaker 3: Right, Yeah, I've heard that's loan before.
Speaker 4: But he was like, but I'm gonna take you to
Speaker 4: my guy. You know everybody got a guy. I'm to
Speaker 4: take you to my guy. He will take you to
Speaker 4: the auction. And so he took me to his friend
Speaker 4: who's a dealer, a car dealer, and took me to
Speaker 4: the auction. And I was like that one nine and
Speaker 4: I told you to ninety ultimonth it was five thousand,
Speaker 4: five hundred. My dad said, okay, that's what you want.
Speaker 4: So for my ten thousand, nine hundred, I put down
Speaker 4: I bought it for five thousand, five hundred. So one,
Speaker 4: now I have no car note, but I do have
Speaker 4: a car. Two, My insurance was super low because when
Speaker 4: you own the car out right, your insurance is new.
Speaker 4: So I remember my insurance being like fifty two dollars
Speaker 4: a month. So if you compare someone else's life, they
Speaker 4: have a car, they have insurance, but that's costing them,
Speaker 4: say three hundred dollars a month. I have a car.
Speaker 4: I have insurance, but it's costing me fifty two bucks
Speaker 4: a month. So I was like, all right, now we
Speaker 4: cooking with grease. Now. It was like when I was
Speaker 4: able to get the job teaching right and making thirty
Speaker 4: nine thousand, I still had that car, and I was like, okay,
Speaker 4: now I'm ready to move out. But one thing I
Speaker 4: knew was yes, is it dope to have my own
Speaker 4: fly apartment? Yes, but you know it's even better paying
Speaker 4: low rent. So I asked my sister. I was twenty
Speaker 4: three and she was twenty five. I said, you're ready
Speaker 4: to blow this joints. He says, sure am, So we
Speaker 4: got an apartment together. It took me like I was
Speaker 4: in charge for looking at the department because she knew
Speaker 4: I was cheap, so it took me like six months
Speaker 4: of looking everywhere. We found this apartment. It was actually
Speaker 4: next to a daycare center. The woman who owned it,
Speaker 4: she was like, look y'all look like nice, wholesome girls,
Speaker 4: and it's next to my business, this daycare center. So
Speaker 4: I don't want no partying, no this, no that. So
Speaker 4: as a result of that, I'm gonna keep the rent
Speaker 4: low and reasonable. It was eleven hundred dollars a month.
Speaker 4: It included the utilities because the daycare center and the
Speaker 4: house that we were renting were connected, so the daycare
Speaker 4: center paid the utilities. I was like, but you ain't
Speaker 4: got to worry about us being crazy, And so eleven
Speaker 4: hundred dollars a month, divided by two, it's five point fifty.
Speaker 4: So now my other friend has an apartment twelve hundred
Speaker 4: dollars a month, and a car and a insurance three
Speaker 4: hundred dollars a month, her life is costing her fifteen hundred.
Speaker 4: I have an apartment five to fifty a month, and
Speaker 4: I have insurance fifty bucks a month, So my life
Speaker 4: has cost me six hundred dollars to her fifteen hundred.
Speaker 4: Duc So I learned that their thing. You can get
Speaker 4: the thing that you want, is there a way to
Speaker 4: get it at a discount? So I was living the
Speaker 4: same life as the rest of my twenty something your
Speaker 4: old friends. But I was patient waiting for the discount.
Speaker 4: Like I didn't finance any of the furniture, Like I
Speaker 4: was sleeping on an air mattress until I had enough
Speaker 4: money to save and to get the like bedroom set
Speaker 4: that I wanted. And even then I knew, you know,
Speaker 4: you really can't negotiate at Macy's. I was like, you know,
Speaker 4: Sylvia Leice, my mom taught me when we were kids,
Speaker 4: had to negotiate. So I went to the mom and
Speaker 4: pop shop, was like, ooh, that actually furniture real cute
Speaker 4: and it's been sitting in the window for a long time,
Speaker 4: mister Lou, how about you sell it to me for now? Okay?
Speaker 4: Every week I used to come in like it's still here.
Speaker 4: You're not gonna get no new merchandise till you move
Speaker 4: this furniture. Oh my god. After three weeks, mister Lou
Speaker 4: sold it to me for like, you know, like a
Speaker 4: thirty percent discount. So I had my account set, my bedset,
Speaker 4: and I paid for a cash and so I was
Speaker 4: always really good at doing that, saying I want the
Speaker 4: same things as my counterparts. How do I get the
Speaker 4: same things as my counterparts, but at a price that
Speaker 4: makes so the reason why most people can't afford their
Speaker 4: life is that they financed everything. They financed their computer,
Speaker 4: They have a blender bill, a refrigerator, build a light,
Speaker 4: that every little lead that they want. Even if you're like, oh,
Speaker 4: I don't have a blender bill. Did you use your
Speaker 4: credit card to buy that blender? Well, then since you
Speaker 4: got a blender bill. And so I learned that if
Speaker 4: I wanted something, to wait, to save and to get it,
Speaker 4: so I didn't add any additional monthly expenses. That's how
Speaker 4: I was able to save so much because I was
Speaker 4: living off half my income because everything I had I
Speaker 4: had paid for in full. So I really didn't have
Speaker 4: that many reoccurring bills. That's the key, and to be
Speaker 4: able to save a significant amount of money is to
Speaker 4: not have reoccurring bills, or not to have as many
Speaker 4: reoccurring bills.
Speaker 5: Well, you know what, I gotta be honest, I was
Speaker 5: a little skeptical because I was thinking to myself, like,
Speaker 5: if you make thirty nine thousand after taxes, you're making
Speaker 5: like twenty five thousand, but you broke it down and yeah,
Speaker 5: I guess anything is possible.
Speaker 7: I was so waiting for you to tell us that
Speaker 7: you were on your noodle budget, and I was like
Speaker 7: a hair cuts, it's a noodle budget.
Speaker 3: But now you got another way to get it done.
Speaker 4: Yeah, well your noodle budget is this and everyone. I
Speaker 4: mean when I was, you know, unemployed and after teaching
Speaker 4: and lost my job, I did drop down to get
Speaker 4: my noodle on right. So people ask me, like, you know,
Speaker 4: what's the noodle budget? It's really just what is your
Speaker 4: if you had to eat ramen noodles, meaning if you
Speaker 4: had to live your cheapest, least expensive life, no bells,
Speaker 4: no whistles, what is that budget? So first you have
Speaker 4: to know what your regular budget is. Maybe it's three
Speaker 4: thousand dollars a month. That's rant, that's the kids, that's
Speaker 4: carnal whatever, right, that's going now, that's haircuts. And then
Speaker 4: your noodle budget. Let's just say it's twenty five hundred
Speaker 4: bucks a month. Because you cut your own hair, you
Speaker 4: don't go out. And I don't suggest that people live
Speaker 4: at their noodle budget unnecessarily that's over sacrificed for what.
Speaker 4: But you should know what it is, because if you
Speaker 4: lose your job instantly, you want to turn around and
Speaker 4: drop down and get your noodle on, like like why
Speaker 4: do you still have cable running? And they threaten you
Speaker 4: a foreclosure like turn off the TV? Says right, So
Speaker 4: I would say sis because like most of my women
Speaker 4: that found me are my dream catches are women, right,
Speaker 4: So it doesn't make sense we don't pivot fast enough.
Speaker 4: You lost your job. First, people you should be calling
Speaker 4: are those extra you know, those extra bills that she
Speaker 4: don't need to pay anymore. It's not forever. You will
Speaker 4: eventually watch TV again, I promise you, you know. But
Speaker 4: it's like we don't pivot fast enough. I call it
Speaker 4: the lady in the fur cove so Bergen County. I
Speaker 4: live in Newark and during the last recession I was
Speaker 4: in Bergen County. I was getting gas and this lady
Speaker 4: had like this fur curd on and like a range
Speaker 4: rolle where you could tell that you know, this woman
Speaker 4: had bank at one point. So I'm looking because I'm nosy,
Speaker 4: I'm looking at her the amount of money on her
Speaker 4: gas like whatever, like on the gas tank where it
Speaker 4: says like how much she owes It was like twenty
Speaker 4: five dollars, right, and so in Jersey we don't pump
Speaker 4: our own gas. So she gave the do her car.
Speaker 4: He swipes it and it's like nah, gives it back
Speaker 4: to her, you know, and she gives him another one,
Speaker 4: another one. But it was the height of the recession,
Speaker 4: probably two thousand and nine, and what it was like
Speaker 4: clear to me was that this is someone who had money,
Speaker 4: but maybe she had it all wrapped up in investments
Speaker 4: and that had dropped. She had not pivoted. She was
Speaker 4: still living at that old like. You see how I
Speaker 4: gave her a whole backstory. I don't know that lady business,
Speaker 4: but this is why I had told myself. I was like, ooh,
Speaker 4: she clearly had money, but she don't have no money
Speaker 4: no more. She's still all your stunton in her rain drover. Right.
Speaker 4: But everyone does that. Everyone we do that. We all
Speaker 4: do that like if your cable is still on and
Speaker 4: you can't afford your rent, if you're still buying clothes
Speaker 4: and you're late on your credit card bill. You see,
Speaker 4: like we all are the lady with the fur coat on.
Speaker 4: It's just a two different levels. So just keda life,
Speaker 4: were keda to a strong financial life. It's just living
Speaker 4: below your means. I mean, I nobody know, nobody wants
Speaker 4: to do that. My dad would say, you have to
Speaker 4: cut your coat according to your size, right, everybody want
Speaker 4: to squeeze into a small now you know you're a
Speaker 4: medium home like, it's not living less of a life.
Speaker 4: It's living within the life that your money provides for you.
Speaker 4: There's nothing wrong with that. You can't grow wealth living
Speaker 4: an outsized life.
Speaker 5: It's levels, it's levels, and you gotta understand what level
Speaker 5: you're over. Humbling experience sometimes, but it is what it is.
Speaker 5: Dream catches not dream chases.
Speaker 4: Languaging is important a fact Crystal and Theory would say.
Speaker 5: Things, Yeah, actual wage act accordingly. So in the next
Speaker 5: on the next segment, we're gonna we're gonna get into
Speaker 5: the meat and potatoes of all of the financial tips
Speaker 5: that everybody always tunes in the Alesia for and give
Speaker 5: out some free game. All right, So in this segment,
Speaker 5: we want to start off with where we left off
Speaker 5: of budgeting and budgeting. I think it's budgeting is extremely
Speaker 5: underrated when it comes to financial planning for individuals. I
Speaker 5: always say, like, if you look at a corporation, budgeting
Speaker 5: is like the major thing that they do. Like you,
Speaker 5: I mean, like Apple knows every dollar that comes in
Speaker 5: and comes out, Like they pay accountants millions of dollars.
Speaker 5: They have a whole team of accountant to keep track
Speaker 5: of the books. And budgeting is like that's everything. Budgeting
Speaker 5: is everything. But it's like most entrepreneurs and most regular
Speaker 5: people that just have jobs have no idea of the budget,
Speaker 5: Like they don't have any idea of how much money
Speaker 5: come and they have no idea how much money goes out.
Speaker 5: They're just winging it and just you know, spending money
Speaker 5: whenever you know they need to, and the money comes
Speaker 5: in and it just goes into their bank. And that's
Speaker 5: kind of like how most people run not only their business,
Speaker 5: but their life. So budgeting, budgeting one oh one right
Speaker 5: for somebody that has never budgeted before, but they first
Speaker 5: and foremost why why is budgeting essential? And then we'll
Speaker 5: go into like some different hacks that can help people
Speaker 5: to get better with budgeting.
Speaker 4: So budgeting is essential because it is a physical picture
Speaker 4: of what your money is doing. Right, So if you
Speaker 4: have kids and you're in the other room and your
Speaker 4: two year old is quiet. You're like, wait, what the
Speaker 4: hell are they breaking? Because you know they they're cutting up,
Speaker 4: putting a you know, putting a knife up in the
Speaker 4: socket whatever, you know. And so it's the same thing
Speaker 4: with your money. Like you you have to be on
Speaker 4: top of your money. I would say, like, your money's
Speaker 4: like a bad two year old, Like, if you leave
Speaker 4: it to its own devices, it's gonna be breaking shit
Speaker 4: that I can curse. Yeah, right, So you want to
Speaker 4: be on it when it comes to your money and
Speaker 4: be present. You are the adult. You decide what your
Speaker 4: money does. And so that's what a budget allows you
Speaker 4: to do. And it allows you to be the adult
Speaker 4: of your life. So it's important. You know, I don't
Speaker 4: care how much money you make, you can outspend like
Speaker 4: great wealth. There are people who have been millionaires and
Speaker 4: even billionaires and have been less penniless. So I think
Speaker 4: sometimes people think like, well, if I had ten million dollars,
Speaker 4: was like a mc hammer. Okay from some of y'all,
Speaker 4: you're like, who's that? Okay, Tody Braxton, right, Alan Iverson.
Speaker 4: So many people have outspent their wealth. It is more
Speaker 4: than possible.
Speaker 5: So what kind of all right, so what are the
Speaker 5: different strategies for budgeting?
Speaker 6: Right?
Speaker 5: Like, it's someone Okay, I realize the budgeting is important.
Speaker 5: I want to do it, So how do I go
Speaker 5: about it? Is it spreadsheet software? Like is there formulas
Speaker 5: that you should use? Because some people say, like your
Speaker 5: housing should only be like twenty or thirty percent of
Speaker 5: your total budget. So yeah's your what's your philosophy as
Speaker 5: far as like the one on one the person realizes
Speaker 5: they need to budget now they actually want to start
Speaker 5: a budget.
Speaker 4: So let's just start super super easy, because I mean, yes,
Speaker 4: I use this spricy all that stuff, but most people
Speaker 4: are not gonna do that to start. It's the difference
Speaker 4: between I want to lose some weight and so tomorrow
Speaker 4: you're like you're gonna run you know, ten miles. You're
Speaker 4: not gonna run ten mouse You might the first day,
Speaker 4: and then the second day you're gonna go back to
Speaker 4: the couch. So I want you to start off walking.
Speaker 4: So for someone who's like I don't budget, I never
Speaker 4: took to a budget. First things first is start with
Speaker 4: having separate bank accounts. Right, So I believe in having
Speaker 4: a bill's account to pay your bills and having a
Speaker 4: spend account to spend from your bills account should not
Speaker 4: have a debit card attached to it. That's a debit
Speaker 4: card is a choice. I don't think people realize that
Speaker 4: the bank issues you a debit card. But you could
Speaker 4: be like, nah, I'm good, So my bill's account does
Speaker 4: not have a debit card my spend account. It's both.
Speaker 4: These are checking accounts that the same bank has a
Speaker 4: debit card. And then you want to least one safet
Speaker 4: account not at that bank, So you want at least
Speaker 4: one safet account at an online only bank. And so
Speaker 4: what it looks like is that your money comes in.
Speaker 4: Some of it goes into your your I like to
Speaker 4: call it my deposit account, slash your spend account, so
Speaker 4: that's where your money lands. Some of it goes into
Speaker 4: your bills account to pay bills, and you know how
Speaker 4: much to go into your bills account by what bills
Speaker 4: are due. And then some of it goes into your savings.
Speaker 4: So in the beginning you're not going to have the
Speaker 4: math perfect. You might just be like, I don't care
Speaker 4: if ten dollars goes into your savings. When I was
Speaker 4: at my brocus, I was literally transferring two dollars, you know,
Speaker 4: just to cont just to have the habit of savings.
Speaker 4: You never you never want to get out of the
Speaker 4: habit of putting something away in your savings account. That's important.
Speaker 4: So what I did for my husband, for example, he's
Speaker 4: not going to sit down and spreadsheet. That's just not happening.
Speaker 4: He's like, what breaks city. Nope, it's not. So we're
Speaker 4: do instead. Now, is we budget for him anywhere? Because
Speaker 4: I like the spreadsheet. We budget before his money even
Speaker 4: gets there, I said, Babe, go to HR. Kid's what
Speaker 4: you're gonna tell them? Hey, before you give me my money.
Speaker 4: Some of it goes into and his retirement account check.
Speaker 4: Some of it goes into his into his spend account,
Speaker 4: that deposit account where things are depositives right check by
Speaker 4: his direct DEPOSITI account right. Some of it goes into
Speaker 4: our joint bill's account check, some goes into his personal
Speaker 4: savings check, and some goes into our joint savings. So
Speaker 4: he basically his budget is done automatically through HR, so
Speaker 4: it lands and all he has to think about is
Speaker 4: when it comes to his personal savings, whatever you want
Speaker 4: to do with that, that's your business. As TABA that
Speaker 4: would say the vegan, vegan chef that Yodly loves. Right now,
Speaker 4: that's your business, right And all he has to worry
Speaker 4: about too, is his basically his allowance in his deposit account,
Speaker 4: in his spending account. So whatever's in his spending account.
Speaker 4: If I see my husband with some new j's on.
Speaker 4: Back in the day, I used to be like, oh,
Speaker 4: that's what we're doing. Do you want enjoyers with the
Speaker 4: bread money? Now it's not my basiness no more, right
Speaker 4: because I know one thing. He didn't take it from
Speaker 4: the Bill's account. He didn't take it from our joint savings.
Speaker 4: So if he took it from his personal savings or
Speaker 4: his spending account, that's fine. And so like if you
Speaker 4: don't know how to do anything else, if you just
Speaker 4: have at least those three accounts and have your money
Speaker 4: automatically split from well really four because you want to
Speaker 4: have a retirement account and have your money split from work,
Speaker 4: then you will be ahead of the game. And so
Speaker 4: for people who want to go a little bit deeper.
Speaker 4: For me, you know, like I, like I said, I
Speaker 4: like to have spread to you. I like to know
Speaker 4: how much we're spending on on on groceries, how much
Speaker 4: we're spending on gas, so I keep track of that.
Speaker 4: I just the tool I like to use best is
Speaker 4: just Excel, So I like to keep track of that there.
Speaker 4: But you don't necessarily have to. You set aside a
Speaker 4: you know, an allowance for yourself. Typically things are led
Speaker 4: by bills. So if ideally you want to be setting
Speaker 4: aside twelve to fifteen percent for your retirement, and you
Speaker 4: probably are saying, like, I can't afford to lose twelve
Speaker 4: to fifteen percent of my pay, or to start with
Speaker 4: one percent, and every six months you boosted up, start
Speaker 4: with a half percent, and every six months you boost
Speaker 4: it up, start with something towards retirement. And then your bills.
Speaker 4: I like to do bills every two weeks, so the
Speaker 4: money I have transferred to the bill's account. You ask yourself, okay,
Speaker 4: how much are my bills from the first to the fifteenth,
Speaker 4: and how much are my bills from the fifteenth to
Speaker 4: the thirtieth, And that's how you know how much to
Speaker 4: be going into the bills account. You know, so it
Speaker 4: might be or you might just have a select number.
Speaker 4: You might say, well, my bills are around three thousand
Speaker 4: dollars a month, so every paycheck or every pay period,
Speaker 4: my bi weekly or my bi monthly pay period, fifteen
Speaker 4: hundred dollars is going to go into my bill's account.
Speaker 4: And having your bills account paid bills automatically for you
Speaker 4: is really going to be like clutch, Like I don't
Speaker 4: pay bills. Bills pay themselves, so lands on my bills account,
Speaker 4: and my bills already know, pay my pay the electric bill,
Speaker 4: pay the water bill, pay these bills for me automatically.
Speaker 4: And like I said, what's left in my spend account
Speaker 4: is attached to my debit card, and I can spend
Speaker 4: and when that money is done, so on mine. What's
Speaker 4: really important too about a budget is the savings account.
Speaker 4: I don't want you to save at your regular bank
Speaker 4: because it makes it easy to transfer. We've all been
Speaker 4: there at Target right and been like, oh man, like
Speaker 4: I really want whatever this thing is, this bleunder this dress,
Speaker 4: this shirt, and you look at check in. You know
Speaker 4: Dariel William got no money to check in, but you
Speaker 4: know who got money though savings, and then you're in
Speaker 4: line making that transfer, like and happy about it to
Speaker 4: like making a transfer even though you're like that was
Speaker 4: supposed to be for powers. You're like, pass can wait,
Speaker 4: tease your care make that transfer, and you're like dang.
Speaker 4: Later you're like this, why I'll never go nowhere because
Speaker 4: I'm always at Target to buy a toilet tissue and
Speaker 4: then I leave but three hundred dollars worth of stuff.
Speaker 4: If you put your savings in an online only savings account, though,
Speaker 4: then you're gonna have to wait at least twenty four
Speaker 4: to seventy two hours for your savings at your online
Speaker 4: only savings account to transfer back to your checking to
Speaker 4: to your spend account. And so what that means is
Speaker 4: it makes your money inconvenient, and inconvenient money get saved.
Speaker 4: So I like this website called magnify money dot com
Speaker 4: to look for an online only savings account because they
Speaker 4: grade savings accounts from A to F. So you're gonna
Speaker 4: look for an A account that's one. Two, you're gonna
Speaker 4: look for an account that's FD I I see insured
Speaker 4: that's two. Three. You're going to look for an account
Speaker 4: that's going to give the highest interest rate because your
Speaker 4: big bank is not going to give you much of
Speaker 4: an interest rate. So online only savings accounts don't have
Speaker 4: as much overhead, so they pass that on to you.
Speaker 4: And you earn a higher interest. And then four, you're
Speaker 4: going to look for a bank that has low deposit requirement.
Speaker 4: So that means in order to open up the bank account,
Speaker 4: maybe you have to you have to put in a
Speaker 4: dollar and also too in order to maintain and get
Speaker 4: that interest. You don't want them to say you have
Speaker 4: to have ten thousand dollars in the bank account in
Speaker 4: order for you to earn the interests that they've advertised.
Speaker 4: So those are the four components you're going to look
Speaker 4: for your online safe account. So I hate to say like, oh,
Speaker 4: twenty percent here, thirty percent there, unless you have an
Speaker 4: irregular income. You don't have to live by percentages. You
Speaker 4: would live by amounts. So one hundred dollars here, three
Speaker 4: hundred dollars there, four hundred dollars here. That's what you're
Speaker 4: That's the split that you should be doing regularly every month.
Speaker 4: If your money it fluctuates because you have an irregular income,
Speaker 4: then you might say, you know, forty percent goes into
Speaker 4: my bills. You know five percent goes into spending. But
Speaker 4: you have to work backwards, like how much are your
Speaker 4: bills unless you're starting from scratching your twenty one you're
Speaker 4: just moving out that you can force your bills to
Speaker 4: fit within that percentage. But it's easy for people to say, oh,
Speaker 4: seventy thirty. Yeah, but like, so what are your bills actually?
Speaker 4: Though your bills might be seventy percent of your income
Speaker 4: right now, you know, so that's so you have to
Speaker 4: pay your bills and you're I'm not worried about the percentage.
Speaker 4: Just now, like how much you actually need to pay bills?
Speaker 4: Put that in the bill's account. Okay, how much ideally
Speaker 4: do you want to save once those bills are paid.
Speaker 4: I want to save one hundred dollars a month, So
Speaker 4: make that a bill. Now that one hundred dollars a
Speaker 4: month is automatically put into that savings account directly from
Speaker 4: your job. And then what's left over, like I said,
Speaker 4: is your spending money. You know, you might tell yourself,
Speaker 4: I'm going to give myself fifty dollars every two weeks
Speaker 4: for spending. Okay, great, and for whatever reason, if there's
Speaker 4: not enough money, then you take care of bills. You say,
Speaker 4: I guess I can't save this month, and I guess
Speaker 4: I can't. I don't spending money this month for like,
Speaker 4: you know, spending money for things that are like, you know,
Speaker 4: like hair, nails, grooming, this and that. You know, so
Speaker 4: sometimes you don't have it, and that's okay. So there
Speaker 4: are times when I didn't have it, but I had
Speaker 4: to pay bills, and even sometimes I didn't have enough
Speaker 4: for bills and I had to say, well, I have
Speaker 4: to pay my Nettle budget bills, my essential bills. Verizon
Speaker 4: can wait. Verison is not going to shoot you if
Speaker 4: you don't pay. Yes, we'll affect your credit score. But credits,
Speaker 4: course are things that you can you can you can
Speaker 4: increase later. I much rather you take care of things
Speaker 4: that are going to make you happy, I mean healthy
Speaker 4: and safe.
Speaker 7: I was just thinking about that because one of the things,
Speaker 7: the powerful things you talk about is identifying ifs, Like
Speaker 7: we can have anything we want if we just identify
Speaker 7: our ifs and control them so that we can budget.
Speaker 6: Right.
Speaker 7: So if I want to say four hundred dollars, maybe
Speaker 7: I don't go to the barbershop twice a week, right,
Speaker 7: So can you talk about the your points of identifying
Speaker 7: the ifs and how they can translate to having more
Speaker 7: money in your budget?
Speaker 4: Absolutely, there are four questions you should ask yourself before
Speaker 4: you spend any money. Do I need it? Do I
Speaker 4: love it? Do I like it? Do I want it?
Speaker 4: Need it? Love it like it? Want it, need it,
Speaker 4: love it like it?
Speaker 3: One you need Swiss on that.
Speaker 5: Right.
Speaker 4: So your needs come first. That's food, shelter, clothing, water,
Speaker 4: the absolute necessities you must have to stay healthy and safe.
Speaker 4: You pay for those first. Most of us are here
Speaker 4: to that. That's why you're alive. Then your loves are
Speaker 4: those things that enhance your life. What are things five
Speaker 4: ten years from now that's still our value even though
Speaker 4: that thing might not be there. Right. So if you
Speaker 4: had Oprah's bank account, I always tell people what would
Speaker 4: you do or do more of? So a lot of
Speaker 4: people say travel, maybe they'd start a business, maybe they
Speaker 4: go back to school, maybe the philanthropy, whatever that is.
Speaker 4: So those are your loves. Those are things that give
Speaker 4: you long term joy, even when that thing is not
Speaker 4: physically there, right. And then your likes are short term joy.
Speaker 4: So you know that's your target. Run, that's your that's
Speaker 4: that dress that you're like, oh, this is super cute.
Speaker 4: You know that might be I don't know, eating out
Speaker 4: with friends or eating out with friends might be a love.
Speaker 4: You might be like yo, I'm such a foodie. Five
Speaker 4: years from now, I'm remembering that restaurant. So there's no judgment.
Speaker 4: You get to decide, but likes our short term joint
Speaker 4: and wants are just things to get. I really try
Speaker 4: to stay away from just frivolous spending, which is what
Speaker 4: wants are. It doesn't mean I never do it, but
Speaker 4: it doesn't make sense to trick up your money and
Speaker 4: wants when you can have more things for loves and
Speaker 4: your needs. And so what I try to do is
Speaker 4: so I try to live in the second half, the
Speaker 4: first half of life, my needs and my loves, because
Speaker 4: that's an enriched, fulfilled life. So I'm not really a foodie,
Speaker 4: although my belly would suggest otherwise. But I'm not really
Speaker 4: a foodie. But I used to go eat brunch every
Speaker 4: weekend with my friends, and then one day I was like,
Speaker 4: why the hell am I going to brunch. I have
Speaker 4: not been on vacation in like two years, so I
Speaker 4: stopped going. They're like, yo, himmy, you're so cheap, right,
Speaker 4: And I'm like, I'm not cheap. It's just that, like
Speaker 4: I don't want to spend my money on bunch anymore.
Speaker 4: I don't want to spend thirty dollars a week eating bunch,
Speaker 4: and so I started saving my brunch money that I
Speaker 4: made it a game. Every time they asked me to
Speaker 4: go to bunch, I would put I would transfer thirty
Speaker 4: dollars to my savings account, and within a few months
Speaker 4: I had enough money. I went for my first solo
Speaker 4: travel trip. I went to Albuquerque, New Mexico because I
Speaker 4: had on my bucket list I wanted to ride in
Speaker 4: a hot air balloon in Albuquerque, New Mexico's the high
Speaker 4: air bloon capital of the world. Who knew? Now you do, right?
Speaker 4: And so I was like, okay, So I remember my
Speaker 4: friend called me Tijuana. She was like, hey girl, we're
Speaker 4: about to have We're gonna have brunch tomorrow, but I
Speaker 4: know you and yo Chi behind you ain't going. I
Speaker 4: was like, cause, I was like slight flex, well, actually
Speaker 4: major flex. I was like, ooh girl, I'm about to
Speaker 4: get in a hot air balloon. The captain said, I
Speaker 4: got turned off my phone. Can I call you later?
Speaker 4: She was like, I had an air balloon in Newark.
Speaker 4: I'm like, no, girl, New Mexico. That's when I do
Speaker 4: my brunch money. Mike drop. Okay, So now I stopped
Speaker 4: telling my friends I don't say I don't say no
Speaker 4: to brunch. I'll tell them like, ah, nah, girl, I
Speaker 4: can't go right now because I'm saying yes to Paris.
Speaker 4: I'm saying yes to Istanbul, I'm saying yes to Santarina.
Speaker 4: These are places I've been. I'm saying yes to Morocco.
Speaker 4: And so I started to decide for myself what my
Speaker 4: needs and my loves were. So I'm not against spending money.
Speaker 4: I'm against spending money on things that don't matter to you.
Speaker 4: Prioritize what your more is, Like some of us are
Speaker 4: spending our whole life spending money on someone else's idea
Speaker 4: of more. Tajuana is a foodie, not me. That's her more,
Speaker 4: that's less for me. You know, let her eat out
Speaker 4: with another food is she can come to my house
Speaker 4: and chill out for free. And so that's really how
Speaker 4: you start to prioritize, just to ask yourself, like what
Speaker 4: does more of a life truly mean? You know, for me,
Speaker 4: I don't want any You know, your spending should be
Speaker 4: reflective of your values and how you want your life
Speaker 4: to go.
Speaker 6: So you said hunting with the online savings that was
Speaker 6: a good point.
Speaker 5: I tell people that all the time, Like you got
Speaker 5: to treat your savings like a bill, like how you
Speaker 5: have your bill, your car bill, Like you can't afford
Speaker 5: to not pay your car bill. You can't afford to
Speaker 5: not pay your cell phone bill. So savings, like you said,
Speaker 5: no matter how much it is, it should be a
Speaker 5: line item and a bill.
Speaker 6: I think. But I wanted to touch on I had
Speaker 6: a few questions.
Speaker 5: So first when you had mentioned with your husband with HR,
Speaker 5: so I didn't even know that was possible. So somebody's
Speaker 5: paycheck can be split into different bank accounts for direct deposits.
Speaker 4: Typically up to four So most mid size so like
Speaker 4: even my company. I don't have some huge company, but
Speaker 4: we're able to do that. So typically up to four splits.
Speaker 4: And so if you're if you're a single, ready to mingle,
Speaker 4: I would say your bill's account a like, and your
Speaker 4: saving account and your spending account. So I would do
Speaker 4: the three right. So but if you are in a
Speaker 4: relationship where you're like sharing expenses, then I would have four.
Speaker 4: I believe that you should have some autonomy over your
Speaker 4: finances as well as responsibility because you're with someone, so
Speaker 4: that would be a personal savings each person a joint savings,
Speaker 4: a joint bills and and and and then your own
Speaker 4: spending account. So to checking two savings. So one of
Speaker 4: the checking one of the savings is yours, and the
Speaker 4: other checking the other savings is someone else's well belongs
Speaker 4: to collectively to the whole.
Speaker 5: And all all you have to do is just go
Speaker 5: to HR And it's like a form like the regular
Speaker 5: direct deposit FORMA you fill out, but it's just like
Speaker 5: you can just add different bank accounts to.
Speaker 4: It, yes, and tell them this is the amount, like
Speaker 4: like you know, my check is five thousand dollars. You know,
Speaker 4: like to say a pay period, a thousand goes here,
Speaker 4: a thousand goes here, a thousand goes here, and so
Speaker 4: now like the other day, because because it's online only savings,
Speaker 4: we don't look at it all the time. My husband
Speaker 4: was like, yo, babe, I got mad money in my savings.
Speaker 4: I'm like, okay, you're welcome, I upgrade right and so,
Speaker 4: but he was like, never had this much save because
Speaker 4: he doesn't think about it. It's been like the last
Speaker 4: two or three years that money would just land. So
Speaker 4: my husband is the type maybe this is all man
Speaker 4: with their boys, so you know, your boys be like, yo, yo,
Speaker 4: you can let me hold thirty dollars. You will let me,
Speaker 4: you know, And so he would always be like, yo, babe,
Speaker 4: such and such as you know, such and such a
Speaker 4: struggling to be And I'd be like, who tone, I
Speaker 4: don't even like tone. Right'd be like, you know so
Speaker 4: now because we would have to be talking back and
Speaker 4: forth to take money out of our joint pot. So
Speaker 4: now there's none of that because one, you have your
Speaker 4: own allowance money and you have your own savings. You
Speaker 4: want to give tone all your savor and that's how
Speaker 4: you want to live your life.
Speaker 3: Go ahead, you know, just don't touch this joint account.
Speaker 4: So it's like I'm looking at the joint saving and
Speaker 4: the doorbell. I say, okay, long, I'll see no tone
Speaker 4: bill and that. So it allows you, you know, so
Speaker 4: everyone to feel like you're part of this community where
Speaker 4: you're all contributing, but allows you to have autonomy, like
Speaker 4: he could do whatever he wants with well, not whatever
Speaker 4: he wants, but you know what I mean, Like with
Speaker 4: his money, he can decide. And so I think that
Speaker 4: works best for if you're in a significant relationship with someone.
Speaker 6: And another thing.
Speaker 5: The last question, So the online savings, like I said,
Speaker 5: I believe the same thing you said, as far as
Speaker 5: it's good to have it, not with the bank like
Speaker 5: I Chase. I have Chase for my business and my
Speaker 5: personal bank account, but I have Capital one my online savings,
Speaker 5: And yeah, the reason is that it's nice a whole
Speaker 5: hassle to get the money. You gotta wait like three days,
Speaker 5: so psychologically it's like out of sight, out of mind
Speaker 5: when you when you when I log on the Chase app,
Speaker 5: I don't see it. I even forget about it. I
Speaker 5: was just thinking about it just now, like I forgot
Speaker 5: about I forgot about it. I haven't really even you
Speaker 5: know what I'm saying. So, but what do you have
Speaker 5: any top banks that you're recommending like or like interest
Speaker 5: rates that we should be because I think I forget
Speaker 5: what my interest rate is. I know it's slightly higher,
Speaker 5: like you said, because online banks don't have the same
Speaker 5: brick and water expenses as regular traditional banks do. So
Speaker 5: it's always good to have an online bank for the
Speaker 5: higher interest rate. But are there any ones that in
Speaker 5: particular right now that's paying higher interest rates than others?
Speaker 4: There was? So here's the thing, like one. I'm like,
Speaker 4: these banks will pay my bills? People always right, no,
Speaker 4: but honestly, so the reason why I tell people like
Speaker 4: I I'm currently with ally Bank, A L L Y right.
Speaker 4: But here's the thing. Ally Bank, back in the day
Speaker 4: they had the best, They had the best interest rate.
Speaker 4: They don't anymore. Their interest rate is okay. I think
Speaker 4: last of my check it was like, well one point
Speaker 4: five percent. But there are banks out there. There was
Speaker 4: a Credit Union when I looked at Magnifying Money the
Speaker 4: other day, that was given two percent. So I definitely
Speaker 4: say go for the bank that's giving the highest interest rate.
Speaker 4: There's also gold Sas has a bank account called like
Speaker 4: Marcus my Goldman Sachs. You know that's another one.
Speaker 3: Erners, what's up?
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Speaker 4: There isn't a best bake if the bank is FDIC
Speaker 4: insured and they're paying you the highest interest rate. That's
Speaker 4: the best bank. Like I said, I like ally, but
Speaker 4: I'm only there now because I signed out with them originally.
Speaker 4: But best believe, go with the coins are You don't
Speaker 4: have to be loyal to your bank. They're not loyal
Speaker 4: to you, you know, go with who's giving you them coins.
Speaker 6: Yeah.
Speaker 7: One of the things you said about having a joint account,
Speaker 7: you know I can attest to. I think it's a
Speaker 7: great idea, especially for married couples. I heard you preach
Speaker 7: about preparing to invest, right, So if you have that
Speaker 7: a joint account, what is something that couples could think
Speaker 7: about investing?
Speaker 4: So this is great. So people ask me, like, here's
Speaker 4: the steps to preparing to invest, so you don't have
Speaker 4: to wait to invest for retirement. So to be clear,
Speaker 4: when I say retirement is an investment, the purpose of
Speaker 4: retirement is not so you're going You're not gonna live
Speaker 4: on no private island in retirement unless you're living on
Speaker 4: a private island. Now. Retirement is so you can maintain
Speaker 4: your current lifestyle. If you set aside twelve to fifteen
Speaker 4: percent of your income now your gross income now, and
Speaker 4: that's all you ever do. What that will inability to
Speaker 4: do is maintain your current lifestyle. So if you don't
Speaker 4: see palm trees next to you, now, you rain' go
Speaker 4: see palm trees when you eighty, right. So then so
Speaker 4: you do that first and foremost, because you must set
Speaker 4: aside for your future self and it's your younger self
Speaker 4: job to look after your future self, so that comes first.
Speaker 4: Then after you're doing that, then you have to have
Speaker 4: a budget. Right, you have to have some sort of
Speaker 4: physical plan of what your money is doing. This much
Speaker 4: is going to build, this much is going to spend
Speaker 4: him something. So that's step two. Do you have a budget?
Speaker 4: Check Before people say, oh I want to invest, I'm like,
Speaker 4: slow down, slow down? Son? You killing them? Who's filling
Speaker 4: them with octane? You didn't not have body? Right, So
Speaker 4: that's too. Do you have a budget? Great?
Speaker 2: Now?
Speaker 4: Step number three right, do you have savings? Right? So,
Speaker 4: do you have emergency savings at minimum minimum minum during
Speaker 4: the recession I say six months? During a non recession,
Speaker 4: I say at least three months three months of your
Speaker 4: noodle budge, meaning do you have three months of your
Speaker 4: essential bills saved? Because we already talked about if you
Speaker 4: were to lose your job, you're gonna drop down to
Speaker 4: get your noodle on. You're not gonna be living at
Speaker 4: the same You're not gonna be living at your three
Speaker 4: thousand dollar bus. You're gonna be living at your twenty
Speaker 4: five hundred dollar budget. So do you have at least
Speaker 4: three months of your noodle budget saved? That's important because
Speaker 4: that is going to help you if times get rough
Speaker 4: and tough. Do you have that great? Then? Number four?
Speaker 4: Do you have high interest debt? Meaning how are you
Speaker 4: going to invest when you owe visa at eighteen nineteen
Speaker 4: twenty five thirty percent? Do you think you're gonna get
Speaker 4: a return of fifteen thirteen you know, thirty percent?
Speaker 2: No?
Speaker 4: On average, the market yields about seven to eight percent
Speaker 4: a year. So what that means is you put your
Speaker 4: money in the market. On average, you're going to get
Speaker 4: back eight cents. Let's just say, but because you have
Speaker 4: credit card debt, you're losing eighteen cents a month or year.
Speaker 4: So you make it eight cents and losing eighteen cents.
Speaker 4: The best thing you can do is pay off the
Speaker 4: credit card debt, the high interest credit card debt, because
Speaker 4: you're losing more than you're likely to gain in the market.
Speaker 4: So before you start investing, you and your boo, like,
Speaker 4: get rid of that high interest credit card debt first
Speaker 4: and foremost. So that's four. So now you've done all
Speaker 4: those four things. You feeling cute, Okay, you feeling spicy.
Speaker 4: Now we can leap into investing for wealth. So investing
Speaker 4: for wealth if you are a couple, if you don't
Speaker 4: know how to do nothing else, like you know, so
Speaker 4: most people are like, they're not really willing to do
Speaker 4: like everybody wants to like trade options. They don't even
Speaker 4: know what that is. They want to, you know, everybody
Speaker 4: wants to buy stock. Then you bought Delta. How's that
Speaker 4: working out for you? Right now? How's Delta doing? It's
Speaker 4: doing terrible. I can tell you because I have Delta,
Speaker 4: and so most people want to do that. But truth is,
Speaker 4: most people are not willing to do the work for investing.
Speaker 4: That's okay, So this is what I tell people that instead,
Speaker 4: you can invest in a mutual fund. I prefer target
Speaker 4: date funds because it's like super super handholding. A target
Speaker 4: date fund is is a mutual fund that you pick
Speaker 4: the target date the date you want to pull out
Speaker 4: that money. So typically most target date funds are the
Speaker 4: date that you want to pull out that money. Typically
Speaker 4: is the date that you want to retire, so you
Speaker 4: might say twenty fifty, twenty forty five, twenty thirty five.
Speaker 4: They're usually five years apart. So you're going to pick
Speaker 4: a mutual fund that's a target date fund, right, A
Speaker 4: mutual fund, just so you know, for those listening, I'm
Speaker 4: sure you know, but you never know. It's a collection
Speaker 4: of investments. I like mutual funds that tend to be
Speaker 4: index funds, so they follow a particular index, like the
Speaker 4: S and P five hundred, which is basically like the market.
Speaker 4: So that means you're invested in a mutual fund that's
Speaker 4: an index fund, and it follows the market and your money.
Speaker 4: The reason why I like target date funds is that
Speaker 4: it rebalances like a true investor knows that they have
Speaker 4: to shift based upon how life like where they are
Speaker 4: in life. Most people don't do that, so a target
Speaker 4: date fund does it for you. A target date fund
Speaker 4: says you pick the target date of twenty fifty, it
Speaker 4: is now twenty twenty. We had thirty years, we got time,
Speaker 4: so we the target day fund is going to be
Speaker 4: invested more aggressively because you have thirty years. The closer
Speaker 4: you get to twenty fifty, the more conservative automatically your
Speaker 4: investment is going to be invested because the target day
Speaker 4: fund is aware of twenty fifty is coming up. So
Speaker 4: the closer we get if it's twenty forty nine, then
Speaker 4: you're super You might be invested in all cash accounts,
Speaker 4: in bonds, super super conservative investments, right, so you don't
Speaker 4: not do anything else. You can buy a mutual fund
Speaker 4: that that's that's that follows an index bond like I said,
Speaker 4: the S and P five hundred. Typically you can you
Speaker 4: can follow you look for a mutual fund. That's that's
Speaker 4: called a total market fund, meaning that your fund mimics
Speaker 4: a particular market like I said the S and P
Speaker 4: five hunder one hundred. So when the when the market
Speaker 4: goes up, your money goes up. When the market goes down,
Speaker 4: your money goes down. But we like we like I
Speaker 4: mentioned before, on average, the market yields about seven to
Speaker 4: eight percent a year, so you will you will over
Speaker 4: over the next thirty years, you're gonna see about a
Speaker 4: seven eight percent game, which is great, you know, even
Speaker 4: like that's for people who are like I don't want
Speaker 4: to do nothing else like And so when you're looking
Speaker 4: for a target date fund or a mutual fund, you're
Speaker 4: looking for something called the expense ratio, and that is
Speaker 4: the fee that that fund is charging you the percentage
Speaker 4: of the money that you have invested with that fund.
Speaker 4: And so right now, like a Vanguard, they have one
Speaker 4: of the lowest expense ratio. So the broker's accounts that
Speaker 4: have mutual funds and target date funds and these total
Speaker 4: market funds are like Vanguard, Fidality child Swab. So you're
Speaker 4: gonna google expense ratio first, Fidality expense ratio for child Swab.
Speaker 4: I think like, right now, it's like the target for
Speaker 4: a fund, for a total market target date fund for Vanguard.
Speaker 4: Right now it's like point zero six percent, which is great, right,
Speaker 4: not even points zero zero six percent, which is like
Speaker 4: something ridiculous, like a piece of a piece of a
Speaker 4: piece of piece of a penny. So that's great because
Speaker 4: the average financial advisor is going to charge you one
Speaker 4: percent of the assets of your of your money that
Speaker 4: they've invested. So the financial advisor is gonna charge you
Speaker 4: one percent, Vanguard's going to charge you a piece of
Speaker 4: a piece of a piece of one percent, so you
Speaker 4: get to keep more of your money. Fees are the
Speaker 4: biggest hindrance to earning money. You know, I'm not anti
Speaker 4: financial advisor, but you're spending a lot of money sometimes
Speaker 4: for them to do automatically what some of these automatic
Speaker 4: funds can do, unless you have other things your financial
Speaker 4: advisor's doing for you. If they're just investing your money,
Speaker 4: bruh fis just put it in in a target day
Speaker 4: fund and let the fund automatically balance for you and
Speaker 4: you can keep most of your money. So if you're
Speaker 4: investing with your significant other, what I love is that
Speaker 4: you can literally say, hey, Vanguard, you want to open
Speaker 4: up a mutual fund. We'll prefer a target day fund
Speaker 4: that's invested in the index. So do you have like
Speaker 4: I know, Vanguard literally has one called their total market fund,
Speaker 4: or you have a total market fund. Okay, open it up.
Speaker 4: We're gonna be putting two hundred dollars a month. Just
Speaker 4: you can have that transferred automatically from your savings account.
Speaker 4: Transfer your two hundred bucks a month, because you already
Speaker 4: have your three months of savings treats for your three
Speaker 4: hundred bucks a month or two hundred bucks a month
Speaker 4: into that account and let it grow. You kind of
Speaker 4: set it in and semi forget it. So that's like
Speaker 4: the easiest possible way to start investing. If you do that,
Speaker 4: you will be better off than ninety nine or nine
Speaker 4: point most people. And just keep it really simple. I
Speaker 4: think investing should be really simple unless, like you really
Speaker 4: are interested in learning how to buy individual stocks. But
Speaker 4: you have to when it comes to investing, like in
Speaker 4: the traditional sense and like the market, keep it simple.
Speaker 4: And then you can also invest by starting a business.
Speaker 4: You can invest by writing a book. There's other ways
Speaker 4: to invest. You can invest by real estate like I
Speaker 4: do all those things. I have residual investments where I
Speaker 4: have books that pay me a few thousand dollars a
Speaker 4: month from books I've written years ago. I have a
Speaker 4: business that you know, that's an investment as well. I
Speaker 4: put money into that business and it yields money back.
Speaker 4: I also have real estate, you know, even in your
Speaker 4: primary your primary residence. You have to think about that
Speaker 4: as an investment, and you have to understand that the
Speaker 4: key with investing is you should make money on the buy,
Speaker 4: not necessarily the seal. So meaning this is then if
Speaker 4: you always make sure you make money on the buy.
Speaker 4: You never lose, but it's time to sell. So bought
Speaker 4: this house that I'm living in now cash slighte flex
Speaker 4: but it was a foreclosure so it was worth at
Speaker 4: the time maybe three twenty because it was kind of
Speaker 4: like a little bit beat up, and we bought it
Speaker 4: for one eighty. So we made money on a buy
Speaker 4: even if nothing else. We didn't fix it up. We're like, yo,
Speaker 4: we tired, we ran out of money to fix it up.
Speaker 4: We bought it for one eighty a house that's worth
Speaker 4: three twenty, So we made money on the buy, no
Speaker 4: matter what. So even now they're talking about the market
Speaker 4: it's gonna drop, I'm not worried about it. It would
Speaker 4: have to drop a whole hell of a lot for
Speaker 4: a house worth three twenty to drop down to one eighty.
Speaker 3: You know, got to have the wind built in exactly.
Speaker 4: So we so then we then we renovated the place.
Speaker 4: So now I just got the house of praise. We
Speaker 4: renovated it. The house is now worth three ninety, so
Speaker 4: it's like even if we never renovated it, we was
Speaker 4: gonna win. So same thing with stocks, you know that
Speaker 4: like you make money on the buy, you know, not necessarily,
Speaker 4: like you don't want to have to wait for the cell.
Speaker 4: But not enough people do that. They want to jump
Speaker 4: into the market right now because you know your your
Speaker 4: neighbors like, oh I bought, Oh you're not in, but
Speaker 4: yond me, Oh you don't do bitcoin. Meanwhile, you don't
Speaker 4: know nothing, know what they're talking about. Don't jump in
Speaker 4: and lose your money. Like, if you're not going to
Speaker 4: do the research, you're going to be broke. Get you
Speaker 4: an index fund, you know, invest in things that you're
Speaker 4: willing to do the research on, or invest in semi
Speaker 4: automated super simple investments, and you'll be fine. You don't
Speaker 4: have to have your investments told honestly largely be boring.
Speaker 4: You don't have to have the hottest stock.
Speaker 5: So all right, So in the last segment, we're going
Speaker 5: to bring it home with a few more tips on
Speaker 5: personal finance. So okay, So two questions that I had
Speaker 5: that's related to personal finance that's big ones. The first
Speaker 5: one is credit cards. Right, so a lot of people
Speaker 5: I'm struggling with credit card debt, and I've heard different
Speaker 5: strategies of how to pay off credit card debt. I
Speaker 5: think one strategy is like the avalanche strategy. Like, so
Speaker 5: we have one strategy, you pay off the smaller amount, oh,
Speaker 5: the larger amount first.
Speaker 6: I think.
Speaker 5: The other strategy is you pay off the highest interest
Speaker 5: amount first. So like if you have five cards and
Speaker 5: one is twenty percent, one is fifteen, you pay off
Speaker 5: the twenty percent first, where the other one is if
Speaker 5: you have five cards and whatever the highest amount is,
Speaker 5: you focus the majority of your resources to that. Knock
Speaker 5: that out the way and think, so do you have
Speaker 5: a set strategy for people that do you personally recommend
Speaker 5: or like, what's what's the best way that somebody can
Speaker 5: can go about paying off credit card debt?
Speaker 4: So yeah, those are both really good ways. So I
Speaker 4: personally like the snowball method first, first and foremost. Well
Speaker 4: I like a mix of snowball slash avalanche. So the
Speaker 4: avalanche method is the method where you pay off the
Speaker 4: more expensive debt first, and that is the debt that
Speaker 4: has the highest interest rate. So that's the fee that
Speaker 4: they're charging you for the money that you owe them. Right,
Speaker 4: So the reason why you pay that off first is
Speaker 4: because logically, if I can give it a debt debt first,
Speaker 4: that that is costing me the most amount of money.
Speaker 4: I'm paying twenty percent, twenty cents on every dollar for
Speaker 4: that debt. But the problem is is at what if
Speaker 4: that debt that you're owing is thirty thousand dollars and
Speaker 4: you make thirty thousand dollars a year, You'll be paying
Speaker 4: that forever. So it doesn't really feel good. It's like
Speaker 4: the equivalent of saying you're going to bench press one
Speaker 4: hundred pounds tomorrow. You're just starting out. So I like
Speaker 4: to start off with this snowball method, which is that
Speaker 4: you pay the debt with the lowest balance first, right,
Speaker 4: and so you start off so you can have early success.
Speaker 4: And so let's just say, you know, you have a
Speaker 4: credit card debt where the balance is one hundred dollars.
Speaker 4: You pay out that one hundred dollars, woo hoo. Now
Speaker 4: you take that whole payment that used to pay to
Speaker 4: that debt and you roll it over to the next
Speaker 4: lowest debt on your list. So as you start to
Speaker 4: do that, then once you start to get a little momentum,
Speaker 4: then you can start looking at, okay, now, which debts
Speaker 4: are really Now you can start to mix an avalanche,
Speaker 4: so which debts are actually costing me the most amount
Speaker 4: of money now that I freed up cast by paying
Speaker 4: off these lower debts. And so I like a mix
Speaker 4: of the two of avalanche and snowball method. But I
Speaker 4: say start off with snowball and then you can start
Speaker 4: to infuse avalanche. So basically, start off paying off the
Speaker 4: debt with the lowest balances first, and then once you
Speaker 4: have excess money because you don't have those those smaller balances,
Speaker 4: you don't have those credit cards to throw money at,
Speaker 4: then you could start using this excess money to pay
Speaker 4: off debts with the highest interest rate.
Speaker 7: You said in times right now, Like a lot of
Speaker 7: people in financial hardships, i've heard you said that one
Speaker 7: of the things you could do is reduce your payments
Speaker 7: to debt. So if you were paying two hundred dollars
Speaker 7: a month to your Best Buy card and the minimum
Speaker 7: payment was fifty dollars, maybe not paying seventy is a key.
Speaker 3: You want to talk about that a little.
Speaker 4: Bit, So especially if you don't have at least three
Speaker 4: months of your nettle budget saved, so three months of
Speaker 4: essential essential expenses saved. I mean, I wouldn't even pay
Speaker 4: seventy dollars to my best boy, I'd be paying best
Speaker 4: by the fifty because during recessionary times the times during recession,
Speaker 4: cash is quean right because if you were to lose
Speaker 4: your job, if you were to get sick, if your
Speaker 4: job were to close down, what you're gonna do, You're
Speaker 4: going to need cash. Debt free and no savings equals
Speaker 4: debt because so many people are still so prior relatively.
Speaker 4: I paid off my credit card debt. How much saves?
Speaker 4: You got nothing? Well, now you got deb girl, No,
Speaker 4: I'm deaf free. No, you're not let your card break down.
Speaker 4: What you're gonna do sis You're gonna look at your
Speaker 4: savings account, which is empty, and you're gonna look back
Speaker 4: at that credit card and swipe that card. And that
Speaker 4: credit card is now gonna charge you a fee for
Speaker 4: using that card for an emergency where you could have
Speaker 4: used money for free and from your savings account. So
Speaker 4: I like, debt free doesn't equal well, I mean, especially
Speaker 4: the black community. Crudential does this. Did this study called
Speaker 4: like the Black American Experience or something like that about money,
Speaker 4: and they found that they interviewed like a few thousand
Speaker 4: black folks and asked, like, what's your number one goal?
Speaker 4: And our goal as a community is to get debt free,
Speaker 4: and the larger population their goal is to grow wealth.
Speaker 4: Because somehow along the way we have confused debt freedom
Speaker 4: with wealth. It's not the same. You know, who else
Speaker 4: is debt free. I've got a four year old nephew, Roman,
Speaker 4: Roman don't have no debt. Roman is broke right, well, man,
Speaker 4: I got no money, So debt free is not the
Speaker 4: same thing as well. And we put so much energy
Speaker 4: into getting debt free, that doesn't mean anything, right. I'd
Speaker 4: rather you focus, like, you know, make debt something that's
Speaker 4: like this behind the scenes goal debt freedom, and you
Speaker 4: know you pay it like you're supposed to, but really
Speaker 4: focus your energy on growing wealth. Now give you an example.
Speaker 4: So I told you I had that that a student
Speaker 4: loan seen Hall University, fifty thousand dollars plus right, or
Speaker 4: like fifty two thousand something like that. I was the
Speaker 4: four baron's queen. I was like, not this year, no, no,
Speaker 4: no deferment, nope. Right. So I did that for years
Speaker 4: and then maybe like three or four years, maybe four
Speaker 4: years into the budgetista I could afford to make a
Speaker 4: payment on the debt, and I started to and then
Speaker 4: I realized that maybe I was paying, like, I don't know,
Speaker 4: a few hundred bucks a month, and I was like, huh,
Speaker 4: I can aggress that I had aggressively paid off that
Speaker 4: thirty five thousand dollars credit card debt scam. And I said,
Speaker 4: I can continue to aggressively pay off this student loan debt.
Speaker 4: But I know I owners that the budgetista is needing
Speaker 4: money for growth. I need to hire a designer, I
Speaker 4: need to hire what. So I could take this extra
Speaker 4: money and put it toward the business instead. So I told, like,
Speaker 4: my student loan you going back on for barons and deferment,
Speaker 4: I'm gonna have to see you late, assist. And I
Speaker 4: put the money toward my business instead. And in two years,
Speaker 4: I was able to write a full check of fifty
Speaker 4: two thousand dollars to my credit card to my student
Speaker 4: loan debt because I had grown my business to seven figures.
Speaker 4: So if I had to use that money to pay
Speaker 4: off the student loan debt, then then I would have
Speaker 4: been student loan debt free and maybe a business that
Speaker 4: was making some you know load mid six figures, which
Speaker 4: is cool. But now doing that, not only did I
Speaker 4: have enough money to pay off my student loan debt
Speaker 4: because I didn't focus on debt. I finally got to it,
Speaker 4: but I focused on well. I was able to buy
Speaker 4: this house for one hundred eighty thousand dollars cash. I
Speaker 4: was able to renovate this house another six figure of renovation.
Speaker 4: I was able to pay off my parents' house one
Speaker 4: hundred twenty thousand knowledge. You see what I mean. So
Speaker 4: focusing on wealth allowed me to have all the things,
Speaker 4: including debt freedom. Focusing on just getting debt free just
Speaker 4: gets you that you will be Roman four years old
Speaker 4: with no debt but no money.
Speaker 5: No, it's true what you said, And a lot of
Speaker 5: times things, especially in our community, we equate debt. It's
Speaker 5: only like bad debt that we think about, so like
Speaker 5: cars or credit cards and stuff like that.
Speaker 6: So that's why it's such a push.
Speaker 5: And then it's like, you know, all kinds of people
Speaker 5: that preach, you know, debt free community and all that stuff.
Speaker 5: So it's like most people have when and it's like
Speaker 5: all kinds of religious nothing against the religious community, but
Speaker 5: you know, it's all kinds of religious quotes that people
Speaker 5: will throw in there, and it's kind of like half
Speaker 5: truths because there's good debt and it's bad debt, And
Speaker 5: if you're not fully educated, you think that all debt
Speaker 5: is bad. Where I mean, I've told this story several
Speaker 5: times and a couple of different times on the podcast
Speaker 5: where I've done several different times where I've taken money
Speaker 5: from my credit card interests free for like twelve eighteen months,
Speaker 5: and I invested it. And it's like, if you give
Speaker 5: me twenty thousand dollars free for eighteen months via balance transfer,
Speaker 5: but people don't even know you can put the balance
Speaker 5: transfer into your actual bank account. I give me twenty thousand,
Speaker 5: I'll give it back to you eighteen months. Let me
Speaker 5: flip this. By the time I flip it and then
Speaker 5: doubled it, and I just got to pay you back
Speaker 5: to twenty thousand that I borrowed. So I just use
Speaker 5: that as an example of that there's good debt and
Speaker 5: this bad debt, And especially when you're in business, I mean,
Speaker 5: it's kind of really almost impossible to run business without
Speaker 5: any debt at some point if you plan on really scaling,
Speaker 5: like even major corporations, they have debt for the most part,
Speaker 5: Like very few companies have no debt at all. You
Speaker 5: have to be responsible and manage the debt properly. But
Speaker 5: it's a leverage. It's a leverage tool.
Speaker 4: So like we're unfortunate in that we because wasn't nobody
Speaker 4: lending my black behind money, right, Like that's not happening.
Speaker 4: Wells Farker was like, oh girl, get out. So I
Speaker 4: had to build the Budgeonista from the ground up, you know,
Speaker 4: with like so we had to the Budgetiesta became the bank.
Speaker 4: So as the Budgetess to start to do well, then
Speaker 4: it was enabled me to branch out to my other companies,
Speaker 4: and the Budgetista became the bank lending to those other companies.
Speaker 4: Other companies made money paid the Budgetista back. And now
Speaker 4: one of my companies is we had our first seven
Speaker 4: figure month, right and so and then we have rearcurring
Speaker 4: of just under seven figure. So by next month we'll
Speaker 4: be an eight figure in your company with no debt.
Speaker 4: So do we use credit cards to pay for things
Speaker 4: like marketing, but we pay them off in full every month.
Speaker 4: We have an Amex card that we use largely. So
Speaker 4: here we are eight figure of your company and no
Speaker 4: long term debt, you know. So it's I just say
Speaker 4: all that that, like it's possible to do the things
Speaker 4: that you want. I mean, and still I live fairly
Speaker 4: simply like if you see me out here in these streets,
Speaker 4: you would never know, right because I you know, because
Speaker 4: it was like, do I elevate my lifestyle right now
Speaker 4: to do our port back into my business. So I
Speaker 4: had already told my financial planners. I believe that you know,
Speaker 4: I have a financial planner because I was at a
Speaker 4: certain point where I knew I know how to make
Speaker 4: money and how to save money. I know how to
Speaker 4: budget money, but I really wanted to learn how to
Speaker 4: grow my money to the next level. So I hired
Speaker 4: a finance planner for myself and and my husband.
Speaker 7: One of the beautiful things about you and ourselves is
Speaker 7: like twenty ten, we would just like. I was fresh
Speaker 7: out of college teaching and one of the things I
Speaker 7: saw in education is that financial literacy wasn't being taught
Speaker 7: in school, and so I reached for my best friend.
Speaker 7: I'm like, yo, you know you're doing finance. Why don't
Speaker 7: we try to teach finance to kids? And it seems
Speaker 7: like around the same time you were doing a similar thing.
Speaker 7: You want to talk about the law A one four
Speaker 7: four or as we know it, as the world should
Speaker 7: know what the budget needs still law.
Speaker 4: Yeah, So I had dope friends the same. You know,
Speaker 4: you have to just understand that your deposit what you
Speaker 4: deposit a seed, you get to reap later, right, you
Speaker 4: get to reap that harvest. So I was teaching financial
Speaker 4: education at the Naida Way. There was a young woman
Speaker 4: there and it was Angela Vie McKnight. At the time,
Speaker 4: she was working for like IBM or something, but she
Speaker 4: did so much for her community in Jersey City. Someone
Speaker 4: was like, yo, you should be an assembly woman because
Speaker 4: you do so much, you have this nonprofit. You're dope.
Speaker 4: So she ran and she won. So she hit me
Speaker 4: up and it was like, hey, Tiffany, you know I
Speaker 4: took your class at the end of it way, it
Speaker 4: was a six week course. I want to do something
Speaker 4: for education for the city, or for not just the city,
Speaker 4: but for the state of New Jersey. And I told her, well,
Speaker 4: Jersey's ahead of the curve, and that we had already
Speaker 4: had a law in place for high school, right. But
Speaker 4: I told her, I believe because I used to teach
Speaker 4: preschool that kids as lowest three and fourced to be
Speaker 4: getting financial education age appropriate financial education. So she and
Speaker 4: I met up at the Starbucks downtown Newark and we
Speaker 4: started to write the bill. It was like if you
Speaker 4: ever like, you know, schoolhouse Rock, just a bill. It
Speaker 4: was like a Civics class of like all the steps
Speaker 4: that had to go to to become a law. First,
Speaker 4: you sit down, you kind of write out what you're thinking.
Speaker 4: Then her team has to do research to see what's
Speaker 4: already out there. Maybe there's outstanding bills there was. I
Speaker 4: told her that it should be elementary and middle school.
Speaker 4: So he wrote up a bill. We met with these
Speaker 4: different committees because you have to have people on board,
Speaker 4: and so we met up with the Education committee. They
Speaker 4: said we love it, and she was like, I need
Speaker 4: you to come because the teachers are kind of pushing
Speaker 4: back because you know, as a teacher, there's always some
Speaker 4: new initiative. You're like, what now, we already have mad
Speaker 4: Time Engles times did like what now?
Speaker 7: They don't like change and they don't like anything added
Speaker 7: to their schedules.
Speaker 4: Yes, And so I said, I agree, you're right. Because
Speaker 4: a teacher, I was like, you know what, you're right, Susan.
Speaker 4: I hated that, like are we doing something else? Now?
Speaker 4: I'm not doing it, you know, and so what I
Speaker 4: did was I went back and we edited the bill
Speaker 4: to say that it wouldn't you it was mandatory to
Speaker 4: have financial education integrated into the school day, so meaning
Speaker 4: you could be teaching science and talking about money, so
Speaker 4: like how much would it cost to clean up the park.
Speaker 4: You could be teaching colors and or you can be
Speaker 4: teaching like art and maybe you're making a savings box.
Speaker 4: So integration versus like stop it's money time. So the
Speaker 4: teachers I like that, you know. So we met with
Speaker 4: the committee. Then it has to go to like the Senate,
Speaker 4: and then it has to go to or has to
Speaker 4: go to the House and then Senate, and they voted
Speaker 4: on it. It went all the way up to Governor
Speaker 4: Christie's desk, and it was the year that he was
Speaker 4: like on his way out, and he promised he was
Speaker 4: going to sign it and he didn't. And in the
Speaker 4: state of New Jersey, if a governor doesn't sign a law,
Speaker 4: it's beetled by just not signing it. There's certain states
Speaker 4: where if a governor doesn't sign a law on the
Speaker 4: way out, it's automatically integrated in but not in New Jersey.
Speaker 4: So we worked for two years for it. To get
Speaker 4: to his desk only for him not have to sign it.
Speaker 4: I was like whatever, so but it was It was
Speaker 4: fine because then we had to go back to the beginning,
Speaker 4: meaning like we had to rewrite the bill, and now
Speaker 4: all of a sudden they wanted to drop off the
Speaker 4: elementary school part. We were like, fine, we're not fighting,
Speaker 4: We'll just have middle school. So we went through the
Speaker 4: same committee House Senate, got to Governor mur Murphy's desk.
Speaker 4: And this is why, you know, the right thing that
Speaker 4: happens at the right time, because if we would have
Speaker 4: had it signed under what's his face, yeah, Christie, it
Speaker 4: wouldn't We wouldn't have had all the fanfare. Governor murphyw
Speaker 4: was like, not only do I love it, I super
Speaker 4: love it. So in the state of New Jersey we
Speaker 4: have our very first black lieutenant governor, which is basically
Speaker 4: governor second in command, and he was like, I'm not
Speaker 4: gonna be there, but I would love for this to
Speaker 4: have a signing day. Not every law is a signing day.
Speaker 4: So not only do we have a signing day with
Speaker 4: our black lieutenant governor, you know, she was the Lieutenant
Speaker 4: Oliver signing. We got to choose the school and Angela
Speaker 4: chose the Barack Obama school because you know, we keep
Speaker 4: it all the way black, okay. So and then here
Speaker 4: right so here it is lieutenant governor, black woman, Angela
Speaker 4: assembly woman who made this law happen, a black woman
Speaker 4: budgetista up on stage, black woman. It was such a
Speaker 4: blackly black black affair, and all the kids in the audience.
Speaker 4: My mama came. Honestly, it was dope. And to see
Speaker 4: her sign and she was like, this bill is now
Speaker 4: a law, it was like amazing. So yeah, So it
Speaker 4: wasn't until you know, at the time, some things don't
Speaker 4: soak in and you're like, oh, okay, that's good. Okay,
Speaker 4: I run a law. Go about your business. But one
Speaker 4: of my best friends was around the corner and she'd
Speaker 4: had a daughter, Olivia, who is eight, and so they
Speaker 4: come over all the time. And then Olivia was like,
Speaker 4: Auntie Tiffany, can you have me my homework? I said sure.
Speaker 4: So I'm looking at this homework and it's like about money,
Speaker 4: and I'm like, you're not about money in school? She
Speaker 4: said yeah, we started learning about money in school.
Speaker 3: And it was like, oh snap, there goes me out.
Speaker 4: So it hit me like Olivia's learning about money because
Speaker 4: something that her aunt Tiffany did, So that was when
Speaker 4: it was like a full circle moment.
Speaker 7: So yeah, and that's going to live off for generations
Speaker 7: like that impact that you just did. And it's true,
Speaker 7: like it could be. It doesn't have to just be
Speaker 7: in mathematics like there is finance and everything. It could
Speaker 7: be in the literature, in ela, it could be in
Speaker 7: social studies. It can be in science, like you said,
Speaker 7: like a lot of we can talk about going out
Speaker 7: of space and how much rockets and how much TESLA
Speaker 7: puts into or SpaceX puts into space exploration.
Speaker 3: It's all around us.
Speaker 7: So I'm happy that you did that, and I guess
Speaker 7: there's two guys who might have to work on something
Speaker 7: for New York.
Speaker 4: So we're going back for elementary school because honestly, I
Speaker 4: want that when you step foot in public school in
Speaker 4: New Jersey, from the very beginning kindergarten all the way
Speaker 4: up to your senior in high school, you're getting financial education.
Speaker 4: It's just gonna set you apart for when you when
Speaker 4: you you know, go off into adulthood, Like if you
Speaker 4: had twelve years of financial education, you're not the same
Speaker 4: kid as a kid that didn't.
Speaker 3: So absolutely.
Speaker 5: So speaking on education, you have you have your own
Speaker 5: educational platform. Can you talk about that?
Speaker 4: Yes? So I have an online school called the Live
Speaker 4: Richer Academy. It's dope I created. I wanted to create
Speaker 4: a safe space for women. So the budgetista is is
Speaker 4: it just way? We have a handful of guys in there.
Speaker 3: I just tell them, don't act up, act you and
Speaker 3: gets smacked up. That's what you're doing.
Speaker 4: Because in the in the especially the black community. So
Speaker 4: Credential has a study like that, same of Black and
Speaker 4: money study, but they found that women just in general,
Speaker 4: I don't think this was a black study, but they
Speaker 4: found that women in general make up to seven zero
Speaker 4: seventy percent of the financial choices in the household. So
Speaker 4: even if she's a stay at home mom, who's buying
Speaker 4: the groceries, who buying a kid the kids food? Like
Speaker 4: you know, if you you're married, right, so you you
Speaker 4: hate a car like us, let's just say it's a
Speaker 4: family car. You you love the car, she hate the car,
Speaker 4: y'all ain't getting that car. Now, she loved a car
Speaker 4: and you are y'all get in that car.
Speaker 2: Right.
Speaker 4: And So, because women have a lot of influence on
Speaker 4: how even if they're not making the money, on how
Speaker 4: money is spent. Right, So I realized that if I
Speaker 4: want to help my community, the best way to do
Speaker 4: is to women. And I am a woman, so it's
Speaker 4: easier for women to listen and to flock to me.
Speaker 4: And so I started when I started a budget thest
Speaker 4: to ten years ago, I started kind of like our crew,
Speaker 4: Like I always say, like we're the Beehive of personal finance,
Speaker 4: and we call ourselves dream catchers because words mean things.
Speaker 4: And we're like over nine hundred women deep in over
Speaker 4: one hundred different countries. Like we are information. And so
Speaker 4: I have Facebook group. It's like five hundred thousand women
Speaker 4: in there twenty four hours a day. Eighty percent of
Speaker 4: the group is engaged that we just help each other,
Speaker 4: like does anybody know how to do a budget? Does
Speaker 4: anybody know anything about credit? How much do the baby
Speaker 4: shoes cost? You can ask any in that group. It's
Speaker 4: a safe space. And so I was teaching the basics.
Speaker 4: And then as I was growing, So I'm a baby
Speaker 4: millionaire and you know, I'm uncle funk as as I
Speaker 4: so as I would my husband be, like yo, I
Speaker 4: still be out here in these streets, not like the
Speaker 4: street streets, but like with his friends, like don't we staying?
Speaker 4: You know? I was like, you know, they don't know
Speaker 4: where I live, babe, they don't know where I live.
Speaker 4: But and you're not gonna find nothing. But like so
Speaker 4: you know, target clothes, so run up and you can
Speaker 4: get done up. So what I learned now with the academy,
Speaker 4: what I realized is that you cannot budget your way
Speaker 4: to wealth. Right. So you can budget, you can say it,
Speaker 4: that's great, but at some point you have to elevate
Speaker 4: to the next level. And I realized that I had
Speaker 4: gotten to this level because of my especially my dad,
Speaker 4: and I realized that I need instruction, I need mentorship,
Speaker 4: I need experts, and so I started myself pulling people
Speaker 4: from the financial community to teach me how to do
Speaker 4: certain things, you know, like how do you invest in
Speaker 4: really state, how do you invest? Like what's the best
Speaker 4: for time, and like all these things that that didn't
Speaker 4: know ten years ago. I was pulling them in and
Speaker 4: I started to raise my own net worth from negative
Speaker 4: three hundred thousand when I lost the house and I
Speaker 4: had the credit card debt and the and the student
Speaker 4: loans to now like just over a million dollars, you know,
Speaker 4: like one point one or one point two right my
Speaker 4: net worth and so and I'm completely debt free, Like
Speaker 4: I don't owe nothing on this house. We owned two houses,
Speaker 4: two cars. We don't owe we don't have any credit
Speaker 4: card debt. We're for real debt free, you know. And
Speaker 4: so I thought to myself, as I was growing, and
Speaker 4: I'm teaching the women the basics, you know, a lot
Speaker 4: of the women were outgrowing the basics, So the basics
Speaker 4: I give away for free. So like the Facebook group Dreamcatchers,
Speaker 4: Live Richer with the Budgetista free, all of my challenge
Speaker 4: is free, you know, most of the information free. But
Speaker 4: I thought to myself, as I'm elevating and growing, I
Speaker 4: want to bring along my girls. And so they were
Speaker 4: asking me for more, but I'm like, well, that's not
Speaker 4: really my expertise. So I started to reach out to
Speaker 4: the people that helped me to elevate and said, could
Speaker 4: you teach a class? And I started to put these
Speaker 4: classes together, and I created the Live Richer Academy where
Speaker 4: it's like fifty or sixty different experts. Ash Cash our
Speaker 4: boy teaches. So I reach out to the best of
Speaker 4: the best of the best and we have classes and
Speaker 4: it's awesome, and we have thirty one thousand students inside
Speaker 4: the Liverature Academy. They be getting their life, buying houses,
Speaker 4: real estate, starting businesses, getting pressed lace and their kids.
Speaker 4: It's like it's amazing every day. And we have a
Speaker 4: private forum where people post their wins, like some of
Speaker 4: the winds are like tremendous credit scores raising and so
Speaker 4: we have these experts come in and teach and the
Speaker 4: Academy is just like a warm embrace and it's really
Speaker 4: there to help you elevate beyond the fundamentals to like
Speaker 4: truly start to grow wealth for yourself. That's what I
Speaker 4: want for us. And I'm proud of the Literature Academy.
Speaker 4: It's four years old. We just had our first seven
Speaker 4: figure month, and so so seven figures in a month,
Speaker 4: it's like, oh, that's cute, you know, but how much
Speaker 4: did you spend to get seven figures in month? So
Speaker 4: what I'm really proud of is like, not the end
Speaker 4: of this month, but we're on track by the end
Speaker 4: of next month to have seven figures recurring, meaning with
Speaker 4: no market spend, with no output except for salary and
Speaker 4: like bills and our salary and buils and things are
Speaker 4: I think last time she told me, my my CFO,
Speaker 4: it's under ten percent. So under ten percent of our
Speaker 4: total income goes to keeping this academy running without the
Speaker 4: market spend and will be recurring income. Will be seven
Speaker 4: figures by the end next month. Is We're right about
Speaker 4: eight hundred thousand dollars a month reoccurring. So that's like
Speaker 4: tremendous with no debt. And so I'm just proud of
Speaker 4: the academy, you know, like of like what we've been
Speaker 4: able to do and how many people we've been able
Speaker 4: to help. I mean, we've helped our audience save well
Speaker 4: over two hundred million dollars, pay off one hundred fifty
Speaker 4: million dollars worth of debt. We've transformed lives. Like yo,
Speaker 4: I can't go anywhere without some sister hemming me up
Speaker 4: and giving me a hug and crying and thank you
Speaker 4: so much. You know, even when I walk these streets,
Speaker 4: like people are like Hong Kong bunch of nieces that
Speaker 4: you I'm like.
Speaker 3: It is girl, keep cute, give me six feet.
Speaker 4: You're right, I want to be an example that you
Speaker 4: could do good work, that you can help good people
Speaker 4: and that you can make good money. That those things
Speaker 4: are not conflicting values. You know, like, you don't have
Speaker 4: to have a business that takes advantage of people. You
Speaker 4: could have a business that's transparent, that truly is of service,
Speaker 4: that transforms live that you know, that leans into the
Speaker 4: community that you want to speak to. We don't take advantage.
Speaker 4: I don't like every day a credit card company leans
Speaker 4: into me and says like, Yo, you know, we'll give
Speaker 4: you three hundred dollars a person if you sign them up,
Speaker 4: And I'm like, yo, kick rocks. I can make be
Speaker 4: making so much more money for all the people that
Speaker 4: come to me and ask me to like sell out
Speaker 4: my community. I'm like, nah, Yo, I don't want to
Speaker 4: make money in that way. I want to be an
Speaker 4: example that you can show up like you know, you
Speaker 4: can show up, be kind, keep your community first, and
Speaker 4: still make bank. Like you think, I'm not going to
Speaker 4: be like, Yo, we're on our way, Like our goal
Speaker 4: is nine figures. You think we're not gonna make it. Hell, yeah,
Speaker 4: we gonna make it and still be good to our
Speaker 4: community and pour back in because I set aside ten
Speaker 4: percent and pour right back into the community that we serve,
Speaker 4: so it's just a pleasure. So yeah, the Literature Academy
Speaker 4: is my jam, and we actually have something for your
Speaker 4: for y'all listeners who are wanted to be part of
Speaker 4: the Literature Academy. Like I said, we have some men
Speaker 4: in there. I'm sure they're been dragged by their girlfriends
Speaker 4: and there and their wives like, so anybody could join,
Speaker 4: Like I mean, like I say this a lot, but
Speaker 4: if you don't mind that, it's the same, like the
Speaker 4: same information for men and women is just that I
Speaker 4: would say ninety six percent of my audience are women.
Speaker 3: Come on, you're coming.
Speaker 6: Yeah, So for your.
Speaker 4: Audience, I actually gave y'all like like, if you were
Speaker 4: to go to Libature Academy dot com, you'll see the
Speaker 4: full price, but for your audience, I gave you guys
Speaker 4: a a forty percent off discount link for you could
Speaker 4: either pay monthly or you could pay get two months
Speaker 4: free if you pay annually and you just pay the
Speaker 4: one lump sum. So it's like a gym membership where
Speaker 4: like if you pay monthly, it comes out every month.
Speaker 4: I mean, you can cancel any time, obviously, but I
Speaker 4: don't like people to get the hot sometimes people like
Speaker 4: I sign up one month. I'm like says it's a membership,
Speaker 4: but you don't cantal but like you know, you signed
Speaker 4: up on a fifteen, it's back.
Speaker 6: I'll be back on the fifteen.
Speaker 3: People like I said, you can.
Speaker 4: Pay for the year and get and get get one
Speaker 4: month free. But it's forty percent off. So I don't
Speaker 4: know if I say it's to say price, because who
Speaker 4: knows when people are gonna listen to I mean, I
Speaker 4: don't plan on raising price anytime soon, so I'll say
Speaker 4: for now. So right now, it's it's fifty bucks a
Speaker 4: month if you were to go to liverature academy dot com.
Speaker 4: But if you use the link for earn your Leisure,
Speaker 4: it's not fifty bus a month. It's twenty nine ninety
Speaker 4: nine a month, So forty percent off that stipe twenty
Speaker 4: nine ninety nine a month for for for now, and then,
Speaker 4: like I said, the annual normally would have been I
Speaker 4: think like five hundred dollars or six hundred dollars for
Speaker 4: the year, but for your leisure it's uh two hundred
Speaker 4: and ninety nine dollars, so three hundred bucks for the
Speaker 4: whole year because you get two months free and so yeah,
Speaker 4: I mean all of that value. I'll say this. I
Speaker 4: always tell people, like twenty nine ninety nine a month,
Speaker 4: right for the forty percent off. That's a dollar dad.
Speaker 4: You know so many people like my attorney is in there,
Speaker 4: like you can't even like speak his name for a dollar.
Speaker 4: You know, like if he does a contract for me,
Speaker 4: I gotta be like dang ariy word like the homy
Speaker 4: hookup for he did a contract for me was three
Speaker 4: thousand dollars. That was the homey hookup. And he's in
Speaker 4: there teaching. You know, my my CFO Shanta, she is
Speaker 4: the dopest. She just did a whole class about how
Speaker 4: to set up your business. So you want to hire Shanta.
Speaker 4: You know, I pay Shanta six figures. You Bay had,
Speaker 4: You're not even You're getting Shanta, You're getting the Tivit,
Speaker 4: You're getting ash cash, You're getting all these amazing people.
Speaker 4: My girl Sandy, who teaches you had a side, hustle
Speaker 4: and make money on the side. My girl Tila, who
Speaker 4: teaches you, like you do you want to invest in
Speaker 4: in stocks, individual stocks and learn how to trade options.
Speaker 4: She teaches that, Like yo, you want to work with
Speaker 4: Tila it's fifteen hundred dollars. I believe she might actually
Speaker 4: charge two thousand for her course. But what makes the
Speaker 4: Accounty special is that everyone in my community knows how
Speaker 4: much I want to pour into the community, so they
Speaker 4: donate their time to us. Like that's because there's no
Speaker 4: way I could make the academy thirty bucks a month
Speaker 4: in a way, because they're like if I had to
Speaker 4: pay each of those folks for what they're what they're worth,
Speaker 4: but they want to pour back into a community that
Speaker 4: they know might not otherwise be able to afford their
Speaker 4: level of expertise. And so they're like, Tiffany, I got you.
Speaker 4: You know, I'm gonna come, I'm gonna teach my class,
Speaker 4: and I'm gonna make sure that folks get it. And
Speaker 4: so yeah, it's just a blessing like it's and when
Speaker 4: you get that level of commitment, when you get that
Speaker 4: intention poured into you, like the sky is the limit.
Speaker 4: Like I said, we have thirty one thousand members right now,
Speaker 4: about three hundred new, hundred three people, three hundred people
Speaker 4: knew join the day, and it's like a love that's
Speaker 4: in there. So yeah, get your get your forty percent off,
Speaker 4: you use their link and I'll see you in the academy.
Speaker 5: Nah, I appreciate it. I appreciate you doing that for us.
Speaker 5: And yeah, it's it's always a blessing to just to
Speaker 5: meet people. And like I said, I checked it out.
Speaker 5: I actually checked it out and it's super official. So
Speaker 5: if anybody's interested, like like Tiffany said, you know, she
Speaker 5: was kind enough to give us a special discount for
Speaker 5: ey L. So we're putting the link in the bio
Speaker 5: or the description if you're listening on Apple or Spotify,
Speaker 5: if you're watching on YouTube, being description. It also be
Speaker 5: on our website on our e y L Alumni tap,
Speaker 5: so you can go to EYO Alumni tap on e
Speaker 5: y L or Alesia dot com and we'll have the
Speaker 5: links everywhere. So once again, thank you for that. I
Speaker 5: appreciate it.
Speaker 3: Appreciate you earners. Take advantage of.
Speaker 5: How can people contact you on social media? Any new
Speaker 5: initiatives that you want to make the people aware of.
Speaker 4: So yeah, I am the Budgetnista everywhere, the Budgetista on Instagram,
Speaker 4: on Facebook, on Twitter, or even on TikTok. But I
Speaker 4: am not tiktoking. Ain't gonna be attacking under my name.
Speaker 6: Don't Rush, don't rush challenge, I know, right, so Twitter.
Speaker 4: Everywhere, I'm the budget Nesta. My favorite partment probably right
Speaker 4: now is like Instagram, but like you know, you can
Speaker 4: follow me there.
Speaker 3: But congrats on three hundred thousand thank you.
Speaker 4: Yeah right, I was, like I made it, so yeah,
Speaker 4: so I'm Also it's just the budget lista dot com
Speaker 4: so if you're looking for resources, and so I have
Speaker 4: a ton of resources. One of my things is that
Speaker 4: my biggest thing is you don't have to spend money
Speaker 4: with me to get help. Like when you're a teacher,
Speaker 4: and you are a teacher for real, for real, you
Speaker 4: know you're like, I can't help, but teach you catch
Speaker 4: me at the Whole Food bougie about the oranges like
Speaker 4: a girl, and that's how you fix your credit, like
Speaker 4: I can't help it. Like results, like a teacher is
Speaker 4: truly a calling. So I always say like, because I
Speaker 4: know not everybody. I mean, for some people, thirty dollars
Speaker 4: a month is too much, you know. So I have
Speaker 4: a ton of free resources to help you get and
Speaker 4: stay on financial track. So so I believe of service first.
Speaker 4: So yeah, the budget lista everywhere, but like probably my
Speaker 4: most exciting new product I have a ton of hooks,
Speaker 4: but you can type in budget Eista on Amazon and
Speaker 4: find them. But this is my baby. I don't know
Speaker 4: if they can see my baby. So her name is
Speaker 4: Molly Moore, and I said, Okay, how do I go
Speaker 4: back to my preschool teacher roots and come for the
Speaker 4: babies and start teaching pre finance to education in a
Speaker 4: way that's age appropriate. So for the last like forever years,
Speaker 4: I've been working on this book and this character. So
Speaker 4: it's gonna be the first of many of her series,
Speaker 4: and it's called Happy Birthday Molly Moore. And this book
Speaker 4: in particular teaches kids the difference between more and like
Speaker 4: what truly does more mean more present, more stuff or
Speaker 4: mere family, more friends. So at the end, because you know,
Speaker 4: the teacher me like, I can't just like have a
Speaker 4: book and it's like a cute book. At the back
Speaker 4: of the book, I actually have like a section where
Speaker 4: it's like extend the lesson questions and extend the lesson activities.
Speaker 4: So you as a parent can read the book and
Speaker 4: be like, Okay, how do I make sure that my
Speaker 4: kid gets the lesson about what this book is supposed
Speaker 4: to teach? So or if you're a teacher an educator,
Speaker 4: You're like, oh, I don't feel like making a whole
Speaker 4: lesson plan. You're in gots to girl. I did it
Speaker 4: for you exactly for real, and I aligned it with like,
Speaker 4: you know, state and federal standards on purpose, so that
Speaker 4: way makes it easy for you. And so I'm just
Speaker 4: so proud of it because it just is like me
Speaker 4: going back to my roots. And yeah, so Molly Moore,
Speaker 4: it's available at mollymore dot com. M A l I
Speaker 4: m O r E. So I figured Molly, you know,
Speaker 4: you think like, oh Molly, no, Molly, like the African
Speaker 4: country and A L I.
Speaker 6: That's the first that's the first thing I thought about.
Speaker 4: What I thought Now, I was like, now her name
Speaker 4: is Molly. And I did it on purpose because I
Speaker 4: was like, Dora is just Spanish enough. So I was like, well,
Speaker 4: how could I do that for my little black baby?
Speaker 4: And so yeah, m A l I m O r E.
Speaker 4: But I'm just really proud of her because it's just
Speaker 4: it's been literally like over ten years in the making.
Speaker 4: This book has been in my head and to have
Speaker 4: this physically in front of me. We did a Kickstarter
Speaker 4: and we raised like seventy five thousand dollars. I couldn't
Speaker 4: even believe it in my damn self, almost double what
Speaker 4: we were asking for. When I tell you already major
Speaker 4: networks have reached out about turning her into a show.
Speaker 3: Wow.
Speaker 4: Yeah, it's crazy, you know when you really step in,
Speaker 4: Like if I could leave anybody with anything, It's like, Yo,
Speaker 4: there's nothing special about me except for my relentless pursuit
Speaker 4: for excellence. I'm like, yo, it could always be better.
Speaker 4: Everyone on my team is a freaking beast, so much
Speaker 4: so I call them Unicorn Shout out to the Unicorn
Speaker 4: Squad because they make magic happen every day. So like I,
Speaker 4: I mean, I think I'm smart enough. I think everything
Speaker 4: in me is like h enough, Like I'm smart enough,
Speaker 4: like B plus smart, be smart. You know, I'm chill,
Speaker 4: chill enough. You know I'm cute enough, you know, But
Speaker 4: like what makes me sets me apart is like yo,
Speaker 4: can't stop, won't stop, relentless pursuit of excellence. Though this
Speaker 4: book is ten years in the making. Who works on
Speaker 4: something for ten years? I do because it was going
Speaker 4: to be right And as soon as I open the floodgates.
Speaker 4: If I tell you some of your faves have reached out,
Speaker 4: Like I got a production company I would love for
Speaker 4: Molly Moore. Yo. When I just posted the screenshot, book
Speaker 4: wasn't even printed yet, already had like three deals on
Speaker 4: a table. I'm like, what so I if I can
Speaker 4: leave you with anything?
Speaker 7: Is that?
Speaker 4: Like yo? The relentless pursuit of excellence. And it's not
Speaker 4: about killing yourself. It's about daily deposits. What is it
Speaker 4: that you want out of life? Write that mess down
Speaker 4: and deposit into your dream band daily, like, oh you
Speaker 4: know I want I want a business? Okay, did you
Speaker 4: do your Google search today? Did you read? Did you
Speaker 4: listen to earn your leisure today? Did you read a book?
Speaker 4: You know? Every day depositing something into your goals and
Speaker 4: dreams and the sky is a freaking limit, like yo,
Speaker 4: some of the things I've been able to accomplish you.
Speaker 4: I used to be a preschool teacher ten years ago.
Speaker 4: I was wiping butts during this time, right, And now
Speaker 4: you know I could pay somebody to wipe my butt if.
Speaker 8: I wanted to.
Speaker 6: That's an option.
Speaker 3: Everything's on the table.
Speaker 4: Have you got the cash? Right?
Speaker 6: Teddy said that everybody's got price.
Speaker 2: Somebody gotta be Virgil learned that in the eighties that
Speaker 2: fact eighties babies for real. Troy housekeeping eye on me.
Speaker 7: Yeah, man, shout out to everybody on patreon dot com.
Speaker 7: Big shout out to our newest member, Anthony. He said,
Speaker 7: listen to Troy. Can you do me a favor? Let
Speaker 7: the world know that I came to Patreon because of Janet,
Speaker 7: who was part of Ernia Leeza Universe. She is an
Speaker 7: outstanding contributor to e y l U. So shout out
Speaker 7: to Janet for recommending Anthony, and welcome to the family, Anthony.
Speaker 7: That's our proud to pay program. We have a bunch
Speaker 7: of tiers that you can join that and some of
Speaker 7: those tiers lead you to e y l u. And
Speaker 7: they also lead you to our private real estate real
Speaker 7: estate uh Facebook group who was which is headed by
Speaker 7: our brother MG the mortgage guys.
Speaker 3: Shout out to him. Yeah, that group is I mean,
Speaker 3: I can't even with a number.
Speaker 5: We should do some kind of collapse. We got EYO
Speaker 5: University in a private real estate group on Facebook. I
Speaker 5: know you got obviously you know the whole movement. Yeah,
Speaker 5: we'll talk.
Speaker 3: Yeah, that would be that would be crazy. Yeah, the
Speaker 3: community is growing.
Speaker 7: At a vast, very fast race and uh shout everybody
Speaker 7: that is purchasing the merch like the merchant is flying
Speaker 7: like out the slows right now. So everybody that's been
Speaker 7: supporting that, we appreciate it. We got our Market Mondays
Speaker 7: coming out the shirts and we got our earner shirts
Speaker 7: coming out.
Speaker 3: Shout to our.
Speaker 5: Group market market Mondays, the hottest stock show on the world,
Speaker 5: in the community in the world.
Speaker 6: It's not the community in the world.
Speaker 4: Heavyweight champion of the world.
Speaker 3: You know what, You're right. I apologize, we're taking it
Speaker 3: every community.
Speaker 5: But yeah, every Monday a PM Easter Standard time, exclusively
Speaker 5: on our YouTube channel. Shot out to Ian Dunlap master investor.
Speaker 5: That's picking up so much team, it's crazy.
Speaker 3: Every week we set a new record of attendance for sure.
Speaker 5: So once again, guys, thank you for rocking with us.
Speaker 5: We appreciate it. See you next week.
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