WEBVTT - Have a Financially Fearless Summer (How-To Monday) 0:00:00.080 --> 0:00:02.360 Hey, hey, ba fam, I am so excited to bring 0:00:02.400 --> 0:00:05.440 you another how to throwback. This was from last summer 0:00:05.480 --> 0:00:09.000 when we had this incredible series of guests with Chris 0:00:09.039 --> 0:00:12.600 Browning from Popcorn Finance. Oh, Chris, I miss you and 0:00:12.640 --> 0:00:15.600 you're so he has the most soothing voice you'll ever hear, 0:00:16.200 --> 0:00:18.400 and the fact that he talks about money. I'm just like, Yes, 0:00:18.520 --> 0:00:20.439 it's a cozy, warm blanket of a man. That's what 0:00:20.520 --> 0:00:24.200 Chris Browning is. We also have my forever fave Berna 0:00:24.239 --> 0:00:27.320 and Nat from Hey Berna on the Show, and Jamila 0:00:27.400 --> 0:00:31.120 Soou Front Journey to Launch, and lastly Janie Torres from 0:00:31.200 --> 0:00:34.559 Yo Kioto Dineo. We are looking back today at some 0:00:34.680 --> 0:00:37.320 of the most memorable moments from that co host series, 0:00:37.400 --> 0:00:39.080 So check it out. Ooh, I'm gonna listen to this 0:00:39.159 --> 0:00:41.160 one because I mean, I like to listen to them all, 0:00:41.640 --> 0:00:45.120 but a little roundup of my favorite people talking on 0:00:45.120 --> 0:00:48.000 our show is just too good to miss. So I 0:00:48.040 --> 0:00:51.400 hope you guys enjoy this, and while you're listening, don't 0:00:51.440 --> 0:00:54.400 be shy leave us a review. We got some incredible 0:00:54.440 --> 0:00:56.960 reviews from a couple of listeners. We got one from 0:00:57.040 --> 0:01:00.800 Casey and from travel by Faith, who are so sweet 0:01:00.920 --> 0:01:03.480 and so generous and said the nicest thing about our 0:01:03.480 --> 0:01:06.960 show on Apple Podcasts. So please take the time to 0:01:07.040 --> 0:01:09.000 leave us a review. We will read them on the show. 0:01:09.080 --> 0:01:12.839 And yeah, we just love y'all so much. Okay, here 0:01:13.000 --> 0:01:23.640 is our how to episode for this week. 0:01:31.959 --> 0:01:36.920 Now, have the time of my life. 0:01:37.280 --> 0:01:38.160 Okay, just kidding. 0:01:38.319 --> 0:01:40.920 I've really miss Tiffany, but we made it, y'all, and 0:01:40.959 --> 0:01:44.360 I can't thank my guest co host enough for joining 0:01:44.400 --> 0:01:47.600 me and holding my hand through this period of separation 0:01:48.080 --> 0:01:50.720 while Tiffany has been on a much needed rest and 0:01:50.840 --> 0:01:53.920 recharge of AKA. I want to thank Chris Browning of 0:01:54.000 --> 0:01:58.640 Popcorn Finance Berna and Nat from Hey Berna, Jamila Soufran 0:01:58.760 --> 0:02:01.320 from Journey to Launch, and last but not least, Janie 0:02:01.320 --> 0:02:05.440 Torres Rodriguez from Yo Kioto Dineto Podcast for joining me 0:02:05.520 --> 0:02:06.760 this past month. Y'all. 0:02:07.400 --> 0:02:08.799 I can't believe we made it. 0:02:08.880 --> 0:02:11.320 I had such a good time getting to know these 0:02:11.320 --> 0:02:13.560 guys better, and I feel like I've got four new 0:02:13.639 --> 0:02:18.240 financial besties already. Now, this reference is strictly for the millennials, 0:02:18.280 --> 0:02:21.720 so boomers and gen zers, sorry, not sorry. So y'all, 0:02:21.720 --> 0:02:25.000 remember those old episodes of Saved by the bell where 0:02:25.040 --> 0:02:27.640 they meet up at the Max and they reminisce about 0:02:27.639 --> 0:02:30.320 the school year and they look longingly at nothing in 0:02:30.360 --> 0:02:34.200 particular in the distance, and then it happens. The screen 0:02:34.280 --> 0:02:38.079 goes all squiggly and you realize it's one of those episodes, 0:02:38.200 --> 0:02:40.640 a recap of some of the best moments from the 0:02:40.680 --> 0:02:44.160 season's past. Well, here we go, Bayside Tigers, I mean, 0:02:44.400 --> 0:02:47.600 ba fam, I am about to walk down memory Lane 0:02:47.639 --> 0:02:50.639 and replay some of the most memorable moments from our 0:02:50.720 --> 0:02:54.720 summer co host series. This is the greatest hits over 0:02:54.760 --> 0:02:57.120 the last month, and I hope you guys enjoy them 0:02:57.240 --> 0:02:59.520 as much as I did getting to relive some of 0:02:59.560 --> 0:03:02.880 these common when I'm in the co host chair. Honestly, 0:03:03.000 --> 0:03:05.639 sometimes I told Berna this when we had lunch last week. Yeah, 0:03:05.639 --> 0:03:08.960 we like hang out now, I told her that. Honestly, 0:03:09.120 --> 0:03:11.240 sometimes I feel like I had these conversations and I 0:03:11.360 --> 0:03:14.920 semi blackout and I have a hard time remembering. So 0:03:14.960 --> 0:03:17.160 it was really fun to walk back down memory lane 0:03:17.440 --> 0:03:19.080 and pick out what I thought were some of the 0:03:19.160 --> 0:03:22.600 really poignant and powerful moments that I had recording with 0:03:22.680 --> 0:03:25.440 these amazing co hosts. So sit back and relax and 0:03:25.600 --> 0:03:31.359 enjoy this look back que the Squiggly Dreamy music Cali. 0:03:35.760 --> 0:03:36.160 Okay. 0:03:36.360 --> 0:03:39.520 Our first trip down memory Lane starts with my conversation 0:03:39.680 --> 0:03:42.160 with the wonderful Chris Browning. He and I took a 0:03:42.240 --> 0:03:45.880 question from listener Laschen, who was asking about the difference 0:03:45.880 --> 0:03:50.400 between having a budgeting problem and an income problem. Lachine says, 0:03:50.440 --> 0:03:52.840 I just found your podcast after buying Tiffany's book, and 0:03:52.880 --> 0:03:55.680 I'm obsessed in her book, which is I will add 0:03:55.680 --> 0:03:58.240 here you guys called Get Good with Money, which you 0:03:58.280 --> 0:04:01.080 can get I Get Good with Money. It's an eight 0:04:01.120 --> 0:04:05.120 week National wait, eight week New York Times bestseller. At 0:04:05.120 --> 0:04:08.280 this point, it's insane anyway, So Laschen found us through 0:04:08.280 --> 0:04:11.080 her book. She says, in the book, Tiffany talked about 0:04:11.160 --> 0:04:14.320 determining if you have a budgeting problem or an income 0:04:14.400 --> 0:04:17.600 slash earning problem. And I think I have an earning problem. 0:04:17.640 --> 0:04:20.440 When I wanted to get y'all's opinion, I make fifty 0:04:20.480 --> 0:04:24.400 thousand dollars a year. After taxes and insurance and my 0:04:24.480 --> 0:04:28.520 retirement retirement savings, I'm left with about twenty nine hundred 0:04:28.560 --> 0:04:32.200 dollars per month. I can comfortably pay my bills, save 0:04:32.320 --> 0:04:34.800 for travel, and add money to my IRA. But that's 0:04:34.839 --> 0:04:38.279 about it. I want to save more, but there's nowhere 0:04:38.279 --> 0:04:40.839 else in my budget. I feel like I can slice 0:04:40.880 --> 0:04:43.960 and dice. What do you guys think? So, what's your 0:04:44.000 --> 0:04:46.000 take on like a budget versus an income problem? 0:04:46.080 --> 0:04:50.080 Chris, This is a great question here, and I think 0:04:50.360 --> 0:04:53.080 sometimes we do get trapped in they Okay, let's let's budget, 0:04:53.160 --> 0:04:55.280 let's cut and let's save where we can, which is 0:04:55.320 --> 0:04:57.720 good to go through and evaluate your budget and see 0:04:57.720 --> 0:05:01.359 where you're maybe wasting money. But the only thing is 0:05:01.360 --> 0:05:03.720 you can only cut so much. If you've already you 0:05:03.920 --> 0:05:06.240 got your stuff under control, and you're really diligent with 0:05:06.279 --> 0:05:07.960 how you spend, you're going to get to a point 0:05:07.960 --> 0:05:10.240 where you just can't cut anything else. And if you 0:05:10.760 --> 0:05:13.800 want to increase your or increase the money available to 0:05:13.839 --> 0:05:16.440 invest and do other things with, yeah, you have to 0:05:16.440 --> 0:05:21.039 make more, which is it's much harder than cutting, but 0:05:21.080 --> 0:05:23.040 it's way more impactful in the long run. 0:05:23.600 --> 0:05:25.880 Yeah. I mean, if you guys need to hear it 0:05:25.920 --> 0:05:27.880 here first. Although I'm pretty sure we've said it before, 0:05:28.279 --> 0:05:30.760 you cannot budget your way to wealth building. 0:05:30.880 --> 0:05:31.560 You can't do it. 0:05:31.960 --> 0:05:34.839 You cannot become rich by budgeting. You can get part 0:05:34.880 --> 0:05:37.760 of the way there. Certainly you can, and it's certainly 0:05:37.800 --> 0:05:41.200 a good starting point, and I think most levels you 0:05:41.200 --> 0:05:43.040 should have at least an idea of what's going in 0:05:43.080 --> 0:05:46.080 and what's going out and what's left over. Budgeting is amazing, 0:05:46.120 --> 0:05:48.360 but it ain't going to get you there, and I 0:05:48.400 --> 0:05:51.240 think I think it definitely sounds like if you're to 0:05:51.279 --> 0:05:53.840 the point where you want to put more money away 0:05:53.920 --> 0:05:56.440 and you just don't have it and you can't. Literally 0:05:56.440 --> 0:05:58.160 you've looked at the budget and you're like, what am 0:05:58.200 --> 0:06:00.680 I going to do? Like live in my car? You can't. 0:06:00.880 --> 0:06:02.919 You know, there's nothing else to slice and dice, like 0:06:02.960 --> 0:06:05.560 you say, so it is time to start looking at 0:06:05.560 --> 0:06:08.800 a couple different things. I am huge about the impact 0:06:09.400 --> 0:06:12.040 your career. I'm very passionate about the impact that your 0:06:12.080 --> 0:06:15.599 career choices can have in helping you accumulate wealth. And 0:06:15.680 --> 0:06:19.200 I'm also huge on looking for additional income streams on 0:06:19.279 --> 0:06:21.719 top of, you know, outside of your nine to five 0:06:21.800 --> 0:06:24.200 job or whatever work you happen to do, so that 0:06:24.279 --> 0:06:28.000 you diversify the income streams that you have. After a 0:06:28.080 --> 0:06:30.400 year like this, it certainly feels like a lot of 0:06:30.440 --> 0:06:35.160 people were turning to side hobbies or side hustles as 0:06:35.160 --> 0:06:38.440 they say, you're starting their own businesses to bring in 0:06:38.480 --> 0:06:40.760 extra money. Because it was a real kick in the ass, 0:06:40.800 --> 0:06:44.520 you know, to realize how vulnerable we all were, especially 0:06:44.600 --> 0:06:46.120 those of us who were tied to a nine to 0:06:46.120 --> 0:06:49.640 five job that either you had layoffs or cut back hours. 0:06:49.680 --> 0:06:53.320 I mean, it all felt very like scary and a 0:06:53.360 --> 0:06:57.640 good reminder about the importance of having those different income streams. So, 0:06:58.080 --> 0:06:59.800 I mean, Chris, both and I. You and I both 0:06:59.800 --> 0:07:02.240 have podcasts. You know, I don't think either of us 0:07:02.320 --> 0:07:06.080 is rolling in the dough from the podcast life, but 0:07:06.360 --> 0:07:08.440 especially not as you're getting all the upgraded equipment that 0:07:08.480 --> 0:07:12.640 it sounds like you're accumulating. But you know, talk about 0:07:12.680 --> 0:07:14.480 like the podcast and what other what do you what 0:07:14.480 --> 0:07:17.080 do you think about different income streams and how someone 0:07:17.120 --> 0:07:18.880 could you know, bring in extra wealth? 0:07:19.640 --> 0:07:21.920 Uh yeah, I mean obviously I'm I'm a fan of 0:07:22.400 --> 0:07:25.000 doing other things and building other streams of income and 0:07:25.040 --> 0:07:27.760 businesses and just things you own on your own. Because one, 0:07:27.840 --> 0:07:29.920 I just enjoy the process of making something and having 0:07:30.000 --> 0:07:32.160 it something that I've created is just it's just a 0:07:32.200 --> 0:07:34.000 cool experience and just I don't know, it makes you 0:07:34.000 --> 0:07:35.920 feel good, Like look I've made this thing. I've put 0:07:35.960 --> 0:07:39.200 my time and sweat into this and it's here. So 0:07:39.440 --> 0:07:42.240 I'm definitely for finding things that you're you're passionate about, 0:07:42.760 --> 0:07:45.000 that you enjoy doing, that you see an opportunity to 0:07:45.080 --> 0:07:48.240 have a viable business doing, and pursuing those because, like 0:07:48.280 --> 0:07:50.840 you said, you know, jobs are secure intil they're not 0:07:51.200 --> 0:07:55.480 until something happens where they need to move on from you. 0:07:55.480 --> 0:07:58.760 You know, things could change overnight. But but just like you, 0:07:59.160 --> 0:08:03.400 I'm a huge fan of growing within your career. That 0:08:03.520 --> 0:08:05.280 was one of the biggest things that helped us get 0:08:05.280 --> 0:08:07.520 out of debt when my wife and I kind of 0:08:07.520 --> 0:08:10.680 got serious about our finances. We had about twenty seven 0:08:10.720 --> 0:08:12.960 thousand dollars in credit card debt and we were taking 0:08:13.000 --> 0:08:15.880 home like forty five thousand dollars between the two of us, 0:08:16.480 --> 0:08:19.240 which was not enough money and not especially not in 0:08:19.240 --> 0:08:20.720 southern California. It is not much. 0:08:20.720 --> 0:08:21.360 Did you do that? 0:08:22.400 --> 0:08:25.600 Wow? It was rough. We were living in a tiny house, 0:08:26.320 --> 0:08:31.600 a very small studio for several years, and really we 0:08:32.040 --> 0:08:33.959 cut our budget down to like nothing, like we were 0:08:34.000 --> 0:08:37.760 not having any fun, Nothing was getting spent that didn't 0:08:37.800 --> 0:08:41.360 need to be spent, and it still was going so slow. 0:08:41.480 --> 0:08:44.240 It was. It was such a long journey, and so 0:08:44.559 --> 0:08:46.760 for me, that's what I went and I left at Okay, 0:08:47.040 --> 0:08:49.160 this is how much I'm making. I think at the time, 0:08:49.360 --> 0:08:51.360 I've got how much I was making by myself, but 0:08:51.360 --> 0:08:53.880 it wasn't I clearly wasn't a lot. What do I 0:08:53.920 --> 0:08:55.800 need to do? And so that's when I started saying, 0:08:55.800 --> 0:08:58.160 all right, what professional organizations can I join. I started 0:08:58.200 --> 0:09:01.319 joining these different groups for book keepers, and I would 0:09:01.440 --> 0:09:04.120 go to conferences and I would help organize as speakers, 0:09:04.120 --> 0:09:06.240 and then I would meet other people from other places 0:09:06.280 --> 0:09:09.160 and I would find out about new openings and build 0:09:09.200 --> 0:09:11.439 up my resumes. When I applied for the next job, 0:09:11.520 --> 0:09:13.240 it's like, whoh you did all of this, Like, oh yeah, 0:09:13.240 --> 0:09:15.000 you know, you can kind of pump yourself up, and 0:09:15.040 --> 0:09:17.439 so doing things like that it allowed me to increase 0:09:17.480 --> 0:09:19.599 my income so much faster than if I would have 0:09:19.679 --> 0:09:21.960 just stayed at my one job and hoped for a 0:09:22.040 --> 0:09:24.079 nice raise, which wasn't going to gum. 0:09:24.200 --> 0:09:27.360 What were you doing at the time. Your backgrounds in accounting. 0:09:27.440 --> 0:09:29.680 Uh, yeah, like accounting and bookkeeping work. So at the 0:09:29.720 --> 0:09:32.160 time I was a payroll supervisor. I was running a 0:09:32.200 --> 0:09:35.920 perill department at a school district actually, and. 0:09:36.600 --> 0:09:38.800 You're managing paychecks and trying to get a bigger one. 0:09:39.440 --> 0:09:42.200 Exactly. I would see everyone who was making more money 0:09:42.240 --> 0:09:43.720 than me and be like, all right, I need to 0:09:43.720 --> 0:09:44.480 do something about this. 0:09:44.600 --> 0:09:45.679 That's got to be really depressed. 0:09:49.200 --> 0:09:49.920 You know, when you. 0:09:49.920 --> 0:09:51.480 See some of those paychecks, you're like, I don't know 0:09:51.480 --> 0:09:53.680 what these people are doing right now, but I need 0:09:53.679 --> 0:09:55.920 to make some changes and get one of these because 0:09:56.440 --> 0:09:57.680 it's way more than I'm king. 0:09:58.000 --> 0:09:59.800 You know what's bad if you're like jealous of a 0:10:00.160 --> 0:10:02.480 Like I don't know what kind of school teachers these were, 0:10:03.040 --> 0:10:05.880 but I'm feeling like a middle school math teacher is 0:10:05.920 --> 0:10:08.440 making more. It's like, ooh, okay. 0:10:08.160 --> 0:10:08.560 It's time. 0:10:09.760 --> 0:10:11.480 Yeah. I was like, because we all know teachers aren't 0:10:11.480 --> 0:10:13.679 paid that well, and I was getting paid a lot 0:10:13.760 --> 0:10:15.320 less than than the majority of teachers. 0:10:15.880 --> 0:10:19.480 That's a crime. Yeah, I've I love that, you know. 0:10:19.600 --> 0:10:22.880 I was recently celebrating with my husband because we've really 0:10:22.960 --> 0:10:26.160 been focused on increasing our net worth and we did 0:10:26.200 --> 0:10:28.520 the math with our planner and realized that we have 0:10:29.000 --> 0:10:31.680 increased our net worth by tenfold in the last five years. 0:10:31.960 --> 0:10:32.320 Wow. 0:10:32.360 --> 0:10:34.400 And I was I was sitting down and we're going 0:10:34.480 --> 0:10:36.960 to I'm gonna do a specific show about it. But 0:10:37.120 --> 0:10:39.520 as I was sitting through and working through, you know, 0:10:39.559 --> 0:10:41.800 how did we do this? I'll tell you one thing. 0:10:41.960 --> 0:10:46.600 It wasn't by budgeting the most significant, the biggest reasons. 0:10:46.640 --> 0:10:48.880 And I part of me almost feels a little, or 0:10:49.000 --> 0:10:54.120 used to feel a little not ashamed. But I think 0:10:54.160 --> 0:10:57.600 people want to hear that we just pulled ourselves up 0:10:57.600 --> 0:11:01.760 by our bootstraps, and you know, we coop on and 0:11:01.800 --> 0:11:04.840 we we were good people and we just worked real hard. 0:11:04.880 --> 0:11:08.080 They want to hear that kind of story. But the 0:11:08.160 --> 0:11:13.240 truth is was that I was super ruthless with pursuing 0:11:13.760 --> 0:11:17.640 new opportunities when two things were true, when I could 0:11:17.679 --> 0:11:21.600 earn significantly more, and when I could challenge myself professionally. 0:11:21.640 --> 0:11:24.240 So when I could when I was offered, when I 0:11:24.320 --> 0:11:26.000 was offered I was in other jobs, and when I 0:11:26.080 --> 0:11:29.480 was offered opportunities to move to a different company, as 0:11:29.480 --> 0:11:33.800 long as the opportunity was professionally rich, like I could 0:11:33.920 --> 0:11:36.120 I was learning a new skill, I was getting to 0:11:36.160 --> 0:11:38.680 try a new position or something like that, and it 0:11:38.720 --> 0:11:42.240 came with additional income. I was definitely willing to take it. 0:11:42.280 --> 0:11:46.600 And I was very risky with some of my career choices, 0:11:47.080 --> 0:11:49.800 and they could have gone the other way entirely, you know, 0:11:49.880 --> 0:11:54.920 without with risk comes rewards or you know, disaster. But 0:11:55.080 --> 0:11:57.640 it was because of those choices I was able to negotiate, 0:11:58.120 --> 0:12:03.320 you know, thirty percent percent raises equity in companies that 0:12:03.360 --> 0:12:06.679 I was joining, which opened me up to even additional 0:12:06.920 --> 0:12:10.880 opportunities to build wealth as long as that stock price 0:12:10.880 --> 0:12:13.240 in that company went up, which I was fortunate enough 0:12:13.280 --> 0:12:16.400 to have that happen sometimes. So like, those are the 0:12:16.440 --> 0:12:19.760 types of things that that I'm I'm ready to just 0:12:19.800 --> 0:12:22.160 be honest about it because there's no shame in it. 0:12:22.160 --> 0:12:25.280 In fact, I had to do it. I'm a black 0:12:25.320 --> 0:12:28.280 woman in America, yo, Like, we don't make that much money. 0:12:28.440 --> 0:12:32.200 We make sixty percent of what a white man earns. 0:12:32.240 --> 0:12:36.040 So for me, I just always thought about when I 0:12:36.040 --> 0:12:38.640 went into like a salary negotiation or when I was 0:12:38.679 --> 0:12:41.240 approached by a competitor or a different company to come 0:12:41.280 --> 0:12:44.080 work for them, I really looked at that as an opportunity. 0:12:44.080 --> 0:12:47.120 It's often the best opportunity you can get to negotiate 0:12:47.160 --> 0:12:50.440 a higher salary and staying at the same place for 0:12:50.520 --> 0:12:52.840 a long time. It ain't it, y'all. It is not 0:12:53.040 --> 0:12:56.240 it in terms of in terms of salary growth, especially 0:12:56.280 --> 0:12:58.720 if you came in entry level. That is not the 0:12:58.760 --> 0:13:02.600 way to increase your income unless. I mean, you can 0:13:02.600 --> 0:13:04.120 stay there if you love your job, but then you 0:13:04.240 --> 0:13:07.240 got to start side hustling on, you know, get a 0:13:07.320 --> 0:13:10.520 side business or take a hobby and start bringing in cash, 0:13:10.800 --> 0:13:14.480 you know, on top of your earnings. But loyalty does 0:13:14.640 --> 0:13:17.439 not pay in corporate America. It doesn't. I am proof 0:13:17.480 --> 0:13:20.320 of that. I really had to make those big, scary 0:13:20.480 --> 0:13:23.319 leaps to get to where I am today, to get 0:13:23.320 --> 0:13:24.520 those bigger paydays. 0:13:25.280 --> 0:13:28.240 No, I mean, I love that so much because I've 0:13:28.320 --> 0:13:31.840 seen it where in a situation no one. I won't 0:13:31.920 --> 0:13:33.680 name a place so no one can figure out what 0:13:33.720 --> 0:13:35.800 I'm talking about. But that was a place. 0:13:35.880 --> 0:13:38.760 Well, leave Chris alone, don't get in, don't get them 0:13:38.800 --> 0:13:39.439 in trouble. 0:13:39.200 --> 0:13:41.160 Don't get me in trouble. Please don't go research this place. 0:13:41.320 --> 0:13:43.360 But I was working at this place. There's a woman there. 0:13:43.400 --> 0:13:45.959 She was amazing at her job, she was amazing, and 0:13:46.080 --> 0:13:48.000 she just wanted She didn't didn't think she was asking 0:13:48.040 --> 0:13:50.040 for a raise. She just wanted a better title than 0:13:50.040 --> 0:13:53.400 what she had. And they're like, no, we can't do 0:13:53.440 --> 0:13:55.640 that I'm sorry, it's something so easy. They were like, no, 0:13:55.679 --> 0:13:58.200 we can't do that, but what you're great? So she's like, 0:13:58.200 --> 0:13:59.360 you know what, all right, I'm out of here. So 0:13:59.360 --> 0:14:01.000 she left, got a at her job, got the title 0:14:01.080 --> 0:14:03.360 she wanted, and got to pay raise the person they 0:14:03.360 --> 0:14:05.319 brought in to replace her. They gave the title that 0:14:05.880 --> 0:14:08.720 she wanted and more money, and it was like they 0:14:08.760 --> 0:14:10.920 could have done it all along, but it was just like, well, 0:14:10.960 --> 0:14:13.600 they think we have you here, you're not going to leave, 0:14:13.920 --> 0:14:16.560 so we're not going to do anything. And that's where 0:14:16.559 --> 0:14:18.080 you like, I mean, I agree with you one hundred percent. 0:14:18.160 --> 0:14:19.840 That's that's the only way you're going to make these 0:14:19.840 --> 0:14:23.320 significant leaps sometimes is to define better opportunities outside of 0:14:23.320 --> 0:14:25.680 where you are. Because they have no incentive to make 0:14:25.680 --> 0:14:27.000 your pay jump significantly. 0:14:27.760 --> 0:14:30.560 And you may think that they're the nicest people. You know, 0:14:30.640 --> 0:14:32.800 they've come to your housewarming parties, they gave you a 0:14:32.880 --> 0:14:34.760 nice little gift when you had a baby or you 0:14:34.800 --> 0:14:37.800 got married. It does like they're not going It takes 0:14:37.840 --> 0:14:40.200 a lot of effort. I was that manager who really 0:14:40.240 --> 0:14:42.760 fought for raises and promotions for my people when I 0:14:42.760 --> 0:14:45.160 didn't have to, because I wanted to retain them. 0:14:45.800 --> 0:14:47.000 I and there were. 0:14:46.920 --> 0:14:48.760 Plenty of people who just don't do that because it 0:14:48.800 --> 0:14:51.040 takes a lot of time, it takes effort. You got 0:14:51.080 --> 0:14:53.880 to like do your research. You got a bat for people. 0:14:54.360 --> 0:14:56.520 It's just not in a lot of people's best interests 0:14:56.600 --> 0:14:59.520 to go to bat for folks. That's work. So yeah, 0:14:59.560 --> 0:15:01.640 I love that example. I mean, I hate it, but 0:15:02.120 --> 0:15:04.360 it's a really good example of what we're talking about here. 0:15:04.400 --> 0:15:09.000 Loyalty does not pay, y'all. But I want to talk 0:15:09.040 --> 0:15:11.160 a bit about before we get to the next question 0:15:11.240 --> 0:15:14.520 about starting a new business. Like I literally I'm at 0:15:14.520 --> 0:15:16.240 a point where I just started a new business. 0:15:16.320 --> 0:15:18.840 Hell guys, I'm I'm the. 0:15:18.760 --> 0:15:22.840 CEO and founder of Mandy Money Media, which is a 0:15:23.160 --> 0:15:27.960 independent content consulting firm and editing and writing business. Yay, 0:15:28.280 --> 0:15:30.960 do I get the kind of thanks? You know, do 0:15:31.120 --> 0:15:33.680 my own thing. After a long well like a decade 0:15:33.720 --> 0:15:37.880 of experience, I'm striking out on my own. And what's 0:15:37.880 --> 0:15:40.480 so fun for me has been doing these things Like 0:15:40.920 --> 0:15:44.720 I filed for an LLC. It's shockingly easy to do this, y'all. 0:15:44.720 --> 0:15:46.800 You just need a little bit of money and like Google, 0:15:46.840 --> 0:15:48.560 like you just had a Google. If you go to 0:15:48.560 --> 0:15:52.080 your state's Department of Labor website or just google your 0:15:52.120 --> 0:15:56.080 state LLC. It'll have a very easy to fill out form, 0:15:56.440 --> 0:15:59.600 pick your name, give them your little coins. I had 0:15:59.600 --> 0:16:02.840 it with the minutes. I got approved and got my 0:16:02.840 --> 0:16:05.640 my LLC established, and then it's what the I R 0:16:05.720 --> 0:16:07.240 S do you? Did you do this yet? We get 0:16:07.240 --> 0:16:11.680 a tax payer or an employee ID number through. 0:16:11.480 --> 0:16:14.720 The i RS dot gov and that's such an easy process. 0:16:14.720 --> 0:16:16.040 And then you don't have to give people your Social 0:16:16.040 --> 0:16:16.920 Security number either. 0:16:17.480 --> 0:16:19.000 Yeah, I mean I think I might have to like 0:16:19.040 --> 0:16:21.960 get it, but yeah, it took. I was I was shocked. 0:16:22.000 --> 0:16:24.080 It was instantly, Oh, here's your e I N. Here 0:16:24.080 --> 0:16:25.960 you go. And once I had that e I N, 0:16:26.000 --> 0:16:27.440 what did I do? I went and got a business 0:16:27.440 --> 0:16:30.120 bank account, just did some googles to find the best one. 0:16:30.280 --> 0:16:31.680 Although I will say, I don't know if you have 0:16:31.720 --> 0:16:34.040 a business bank account or credit card yet, do you? 0:16:34.600 --> 0:16:34.720 Uh? 0:16:34.800 --> 0:16:36.520 Yeah, I do have the credit card. I've not gone 0:16:36.560 --> 0:16:38.640 the banking route. I'm still I mean, I probably shouldn't 0:16:38.640 --> 0:16:42.040 be saying this out loud, but yeah, maybe you lessnings 0:16:42.080 --> 0:16:43.960 and personal accounts as business accounts right now. 0:16:44.440 --> 0:16:46.280 You know that's cool. It depends on how you. I 0:16:46.560 --> 0:16:48.200 did learn that, you know, when I was trying to 0:16:48.240 --> 0:16:50.600 decide whether to do an LLC or work as a 0:16:50.600 --> 0:16:54.200 sole proprietor. It's very different, like in terms of how 0:16:54.880 --> 0:16:58.680 how you can commingle your personal versus professional expenses and 0:16:58.720 --> 0:17:01.160 things like that. But definite I got the one with 0:17:01.160 --> 0:17:03.160 my CPA and he was like, LLC is the way 0:17:03.200 --> 0:17:06.040 to go. So that's what I did. And yeah, but 0:17:06.200 --> 0:17:08.800 the E I n it took seconds and the oh, 0:17:08.800 --> 0:17:10.560 the business bank account. What I was going to say, 0:17:10.640 --> 0:17:14.720 is I because that's I wanted. I'm gonna get paid soon, hopefully, 0:17:14.960 --> 0:17:18.359 hopefully soon from clients. You know, I'm manifesting it, like 0:17:18.400 --> 0:17:22.159 my husband installing his Tesla charger five months before he 0:17:22.200 --> 0:17:25.199 actually had a Tesla. I'm going to get this. I 0:17:25.200 --> 0:17:28.479 got a bank account through a online bank, and it 0:17:28.560 --> 0:17:31.879 was kind of hard to find a fee free business 0:17:31.920 --> 0:17:34.240 bank account. It seems like a lot of them charge 0:17:34.920 --> 0:17:38.280 They either have a minimum required balance, which I don't 0:17:38.280 --> 0:17:39.760 know if I'm gonna make I'm gonna make money, but 0:17:39.840 --> 0:17:42.280 like I can't, I can't commit right now that I'm 0:17:42.280 --> 0:17:44.879 going to be making a certain amount. Yeah, so it 0:17:44.920 --> 0:17:49.280 took a lot of comparing and contrasting. But I definitely 0:17:49.720 --> 0:17:51.399 I was able to get one, and you have to 0:17:51.400 --> 0:17:54.200 have your E I N in order to get one 0:17:54.240 --> 0:17:58.280 set up. And then I got approved for a personal sorry, 0:17:58.320 --> 0:18:01.840 a business credit card, which was a So it's it, 0:18:01.960 --> 0:18:04.200 you can do it. And look, I'm a business who. 0:18:04.240 --> 0:18:06.800 You can't tell me nothing. I'm a business owner, right, 0:18:07.520 --> 0:18:11.080 I don't need a storefront. I'm doing it. 0:18:11.080 --> 0:18:13.040 It's so different than what people thought of, like what 0:18:13.280 --> 0:18:14.720 people I think. We have a much different image in 0:18:14.760 --> 0:18:16.880 our head of what it takes to be a business owner. 0:18:16.920 --> 0:18:19.240 It's it's so it's such an easy process these. 0:18:19.240 --> 0:18:22.680 Days, it really is. So I hope that that motivates 0:18:22.720 --> 0:18:25.680 y'all and inspires you to to look at you know, 0:18:25.760 --> 0:18:27.400 if you if you're like me and you've been doing 0:18:27.440 --> 0:18:30.520 something for a long time, you know, and you realize 0:18:30.560 --> 0:18:33.320 you've got a certain set of skills that companies would 0:18:33.320 --> 0:18:37.360 pay to take advantage of or leverage. You know. That's 0:18:37.400 --> 0:18:39.640 a way of like, let's say I was still doing 0:18:39.680 --> 0:18:42.440 my you know, had a nine to five job, I 0:18:42.520 --> 0:18:45.439 could I could feasibly do this on the side and 0:18:45.560 --> 0:18:49.040 just bring in some extra income. And that's the beginning 0:18:49.119 --> 0:18:52.760 again to true wealth building. So I love that Tiffany 0:18:52.800 --> 0:18:55.400 covered that in her book, Get It with Lenny dot Com. 0:18:55.440 --> 0:18:57.640 Y'all she got the book. I love that she covered 0:18:57.640 --> 0:18:59.680 that in the book because it really is like it's 0:18:59.720 --> 0:19:02.840 the next level from just basic budgeting really focusing on 0:19:02.880 --> 0:19:03.399 your income. 0:19:04.000 --> 0:19:06.199 Yeah, it really is such a great idea. And you know, 0:19:06.280 --> 0:19:08.480 what I've started to discover too, is that the bar 0:19:08.640 --> 0:19:11.480 is actually very low for a lot of what people 0:19:11.520 --> 0:19:15.800 consider good work. I'm very shocked for whatever it's right 0:19:17.000 --> 0:19:19.320 in my mind, it's like people are like, if you're 0:19:19.320 --> 0:19:21.199