1 00:00:00,040 --> 00:00:03,600 Speaker 1: An illegal alien from Guatemala charged with raping a child 2 00:00:03,680 --> 00:00:07,480 Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador 3 00:00:07,720 --> 00:00:11,840 Speaker 1: accused of murdering a Texas man of Venezuelan charged with 4 00:00:11,920 --> 00:00:15,840 Speaker 1: filming and selling child pornography in Michigan. These are just 5 00:00:15,920 --> 00:00:19,680 Speaker 1: some of the heinous migrant criminals caught because of President 6 00:00:19,720 --> 00:00:23,320 Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States 7 00:00:23,320 --> 00:00:28,120 Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border 8 00:00:28,160 --> 00:00:31,680 Speaker 1: crossings are at the lowest levels ever recorded, and over 9 00:00:31,760 --> 00:00:34,960 Speaker 1: one hundred thousand illegal aliens have been arrested. If you 10 00:00:35,040 --> 00:00:38,920 Speaker 1: are here illegally, your next you will be fined nearly 11 00:00:39,000 --> 00:00:43,000 Speaker 1: one thousand dollars a day, imprisoned, and deported. You will 12 00:00:43,040 --> 00:00:46,680 Speaker 1: never return. But if you register using our CBP home 13 00:00:46,720 --> 00:00:50,120 Speaker 1: app and leave now, you could be allowed to return legally. 14 00:00:50,479 --> 00:00:51,280 Speaker 1: Do what's right. 15 00:00:51,840 --> 00:00:52,720 Speaker 2: Leave now. 16 00:00:53,040 --> 00:00:57,840 Speaker 1: Under President Trump, America's laws, border and families will be protected. 17 00:00:57,920 --> 00:01:00,000 Speaker 2: Sponsored by the United States Department of Homeland Security. 18 00:01:00,240 --> 00:01:02,280 Speaker 3: Thought off of where we left off of budgeting and budgeting, 19 00:01:02,440 --> 00:01:04,920 Speaker 3: I think it's budgeting is extremely underrated when it comes 20 00:01:04,959 --> 00:01:07,560 Speaker 3: to financial planning for individuals. I always say, like, if 21 00:01:07,600 --> 00:01:11,280 Speaker 3: you look at a corporation, budgeting is like the major 22 00:01:11,319 --> 00:01:12,800 Speaker 3: thing that they do. Like you, I mean, like Apple 23 00:01:12,920 --> 00:01:15,039 Speaker 3: knows every dollar that comes in and comes out, Like 24 00:01:15,319 --> 00:01:18,280 Speaker 3: they pay accountants millions of dollars. They have a whole 25 00:01:18,280 --> 00:01:20,600 Speaker 3: team of accountant to keep track of the books. And 26 00:01:20,920 --> 00:01:23,560 Speaker 3: budgeting is like that's everything. Budgeting is everything. But it's 27 00:01:23,600 --> 00:01:27,080 Speaker 3: like most entrepreneurs and most regular people that just have 28 00:01:27,200 --> 00:01:29,959 Speaker 3: jobs have no idea of the budget, Like they don't 29 00:01:29,959 --> 00:01:31,640 Speaker 3: have any idea of how much money comes in, they 30 00:01:31,680 --> 00:01:33,680 Speaker 3: have no idea of how much money goes out. They're 31 00:01:33,720 --> 00:01:37,000 Speaker 3: just wringing it and just you know, spending money whenever 32 00:01:37,200 --> 00:01:40,000 Speaker 3: you know they need to, and the money comes in 33 00:01:40,040 --> 00:01:41,640 Speaker 3: and it just goes to their bank. And that's kind 34 00:01:41,640 --> 00:01:43,880 Speaker 3: of like how most people run not only their business 35 00:01:43,920 --> 00:01:47,680 Speaker 3: but their life. So budgeting, budgeting one oh one right 36 00:01:47,720 --> 00:01:51,400 Speaker 3: for somebody that has never budgeted before, but they first 37 00:01:51,400 --> 00:01:55,560 Speaker 3: and foremost why why is budgeting essential? And then we'll 38 00:01:55,560 --> 00:01:57,720 Speaker 3: go into like some different hacks that can help people 39 00:01:57,760 --> 00:01:59,320 Speaker 3: to get better with budgeting. 40 00:02:00,040 --> 00:02:04,040 Speaker 4: So budgeting is essential because it is a physical picture 41 00:02:04,040 --> 00:02:07,960 Speaker 4: of what your money is doing. Right, So if you 42 00:02:08,040 --> 00:02:10,120 Speaker 4: have kids and you're in the other room and your 43 00:02:10,160 --> 00:02:13,080 Speaker 4: two year old is quiet, You're like, wait, what the 44 00:02:13,120 --> 00:02:13,919 Speaker 4: hell are they breaking? 45 00:02:14,000 --> 00:02:15,600 Speaker 2: Because you know they're cutting. 46 00:02:15,320 --> 00:02:17,920 Speaker 4: Up, putting a you know, putting a knife enough in 47 00:02:17,960 --> 00:02:19,080 Speaker 4: the socket whatever, you know. 48 00:02:19,680 --> 00:02:21,600 Speaker 2: And so it's the same thing with your money. 49 00:02:21,720 --> 00:02:23,880 Speaker 4: Like you you have to be on top of your money. 50 00:02:23,880 --> 00:02:25,280 Speaker 4: I would say, like, your money's like a bad two 51 00:02:25,360 --> 00:02:27,959 Speaker 4: year old, Like if you leave it to its own devices, 52 00:02:27,960 --> 00:02:33,440 Speaker 4: it's gonna be breaking shit that I can curse. Yeah, right, 53 00:02:33,480 --> 00:02:35,040 Speaker 4: So you want to be on it when it comes 54 00:02:35,080 --> 00:02:37,000 Speaker 4: to your money and be present. 55 00:02:37,080 --> 00:02:40,079 Speaker 2: You are the adult. You decide what your money does. 56 00:02:40,120 --> 00:02:41,760 Speaker 4: And so that's what a budget allows you to do 57 00:02:42,000 --> 00:02:44,480 Speaker 4: and allows you to be the adult of your of 58 00:02:44,520 --> 00:02:47,320 Speaker 4: your life. So it's important, you know, I don't care 59 00:02:47,360 --> 00:02:51,240 Speaker 4: how much money you make. You can outspend like great wealth. 60 00:02:51,240 --> 00:02:52,080 Speaker 2: There are people who. 61 00:02:51,880 --> 00:02:56,359 Speaker 4: Have been millionaires and even billionaires and have been less penniless. 62 00:02:56,600 --> 00:02:58,400 Speaker 4: So I think sometimes people think, like, well, if I 63 00:02:58,400 --> 00:03:00,480 Speaker 4: had ten million dollars was like mc. 64 00:03:00,440 --> 00:03:02,760 Speaker 2: Hammer from Somebody'll You're like, who's that? 65 00:03:02,919 --> 00:03:08,360 Speaker 4: Okay, Tony Braxton, right, Alan Iverson. So many people have 66 00:03:08,600 --> 00:03:11,160 Speaker 4: outspent their wealth. It is more than possible. 67 00:03:11,880 --> 00:03:14,600 Speaker 3: So what kind of all right, So what are the 68 00:03:14,600 --> 00:03:17,160 Speaker 3: different strategies for budgeting right, Like, it's someone Okay, I 69 00:03:17,160 --> 00:03:19,040 Speaker 3: realize the budgeting is important. I want to do it. 70 00:03:19,120 --> 00:03:22,480 Speaker 3: So how do I go about it? Is it spreadsheet software? 71 00:03:22,680 --> 00:03:25,240 Speaker 3: Like is there formulas that you should use? Because some 72 00:03:25,240 --> 00:03:27,680 Speaker 3: people say, like the housing should only be like twenty 73 00:03:27,800 --> 00:03:30,760 Speaker 3: or thirty percent of your total budget. So yeah, what's 74 00:03:30,800 --> 00:03:32,799 Speaker 3: your what's your philosophy as far as like the one 75 00:03:32,800 --> 00:03:35,440 Speaker 3: on one the person realizes they need to budget now 76 00:03:35,480 --> 00:03:36,600 Speaker 3: they actually want to start a. 77 00:03:36,520 --> 00:03:40,120 Speaker 4: Budget, So let's just start super super easy, because I mean, yes, 78 00:03:40,160 --> 00:03:41,520 Speaker 4: I use a sprite sheat all that stuff, but most 79 00:03:41,520 --> 00:03:42,920 Speaker 4: people are not going to do that to start. 80 00:03:42,960 --> 00:03:45,040 Speaker 2: It's the difference between I want to lose some. 81 00:03:44,960 --> 00:03:47,280 Speaker 4: Weight and so tomorrow, like you're gonna run you know, 82 00:03:47,320 --> 00:03:49,360 Speaker 4: ten miles, you're not gonna run ten mouse You might 83 00:03:49,400 --> 00:03:50,840 Speaker 4: the first day, and the second day you're going to 84 00:03:50,880 --> 00:03:53,640 Speaker 4: go back to the couch. So I want you to 85 00:03:53,760 --> 00:03:57,080 Speaker 4: start off walking. So for someone who's like I don't budget, 86 00:03:57,120 --> 00:03:57,480 Speaker 4: I never. 87 00:03:57,400 --> 00:03:58,200 Speaker 2: Took to a budget. 88 00:03:58,880 --> 00:04:03,600 Speaker 4: First things first is start with having separate bank accounts, right, 89 00:04:03,720 --> 00:04:06,680 Speaker 4: So I believe in having a bill's account to pay 90 00:04:06,720 --> 00:04:10,640 Speaker 4: your bills and having a spend account to spend from 91 00:04:10,680 --> 00:04:13,000 Speaker 4: your bills account. Should not have a debit card attached 92 00:04:13,000 --> 00:04:14,920 Speaker 4: to it. That's a debit card is a choice. I 93 00:04:14,920 --> 00:04:17,039 Speaker 4: don't think people realize that the bank issues you a 94 00:04:17,040 --> 00:04:19,120 Speaker 4: debit card. But you could be like, nah, I'm good. 95 00:04:19,320 --> 00:04:21,200 Speaker 4: So my bill's account does not have a debit card. 96 00:04:21,839 --> 00:04:22,680 Speaker 4: My spend account. 97 00:04:22,680 --> 00:04:23,000 Speaker 2: It's both. 98 00:04:23,040 --> 00:04:25,200 Speaker 4: These are checking account that the same bank has a 99 00:04:25,200 --> 00:04:27,520 Speaker 4: debit card. And then you want to least one savings 100 00:04:27,560 --> 00:04:29,960 Speaker 4: account not at that bank. So you want to at 101 00:04:30,000 --> 00:04:32,680 Speaker 4: least one safets account at an online only bank. And 102 00:04:32,760 --> 00:04:35,320 Speaker 4: so what it looks like is that your money comes in. 103 00:04:36,040 --> 00:04:39,240 Speaker 4: Some of it goes into your I like to call 104 00:04:39,279 --> 00:04:42,240 Speaker 4: it my deposit account, slash your spend accounts, so that's. 105 00:04:42,080 --> 00:04:42,960 Speaker 2: Where your money lands. 106 00:04:43,440 --> 00:04:45,719 Speaker 4: Some of it goes into your bills account to pay bills, 107 00:04:45,720 --> 00:04:47,159 Speaker 4: and you know how much to go into your bills 108 00:04:47,200 --> 00:04:49,560 Speaker 4: account by what bills are due. And then some of 109 00:04:49,600 --> 00:04:52,400 Speaker 4: it goes into your savings. So in the beginning you're 110 00:04:52,400 --> 00:04:54,520 Speaker 4: not going to have the math perfect. You might just 111 00:04:54,560 --> 00:04:56,360 Speaker 4: be like, I don't care if ten dollars goes into 112 00:04:56,400 --> 00:04:58,599 Speaker 4: your savings. When I was at my brocus, I was 113 00:04:58,640 --> 00:05:02,640 Speaker 4: literally transferring to you know, just to continue, just to 114 00:05:02,640 --> 00:05:05,719 Speaker 4: have the habit of savings. You never you never want 115 00:05:05,720 --> 00:05:07,800 Speaker 4: to get out of the habit of putting something away 116 00:05:07,839 --> 00:05:08,719 Speaker 4: in your savings account. 117 00:05:08,800 --> 00:05:09,400 Speaker 2: That's important. 118 00:05:09,800 --> 00:05:11,840 Speaker 4: So what I did for my husband, for example, he's 119 00:05:11,880 --> 00:05:13,120 Speaker 4: not gonna sit down and spreadsheet. 120 00:05:13,160 --> 00:05:15,440 Speaker 2: That's just not happening. He's like, what breaks city, dope, 121 00:05:17,080 --> 00:05:21,320 Speaker 2: So we're doing stead Now? Is we budget for him anywhere? 122 00:05:21,360 --> 00:05:22,520 Speaker 2: Because I like the spreadsheet. 123 00:05:22,560 --> 00:05:25,400 Speaker 4: We budget before his money even gets there, I said, Babe, 124 00:05:25,440 --> 00:05:28,200 Speaker 4: go to HR, here's what you're gonna tell them. Hey, 125 00:05:28,480 --> 00:05:31,080 Speaker 4: before you give me my money, some of it goes 126 00:05:31,120 --> 00:05:35,040 Speaker 4: into his retirement account check. Some of it goes into 127 00:05:35,080 --> 00:05:37,720 Speaker 4: his into his spend account, that deposit account where things 128 00:05:37,760 --> 00:05:41,000 Speaker 4: are depositives right check by his direct deposit account, right. 129 00:05:41,160 --> 00:05:43,599 Speaker 4: Some of it goes into our joint bill's account check, 130 00:05:44,040 --> 00:05:47,240 Speaker 4: some goes into his personal savings check, and some goes 131 00:05:47,240 --> 00:05:51,279 Speaker 4: into our joint savings. So he basically his budget is 132 00:05:51,320 --> 00:05:53,080 Speaker 4: done automatically. 133 00:05:52,480 --> 00:05:55,520 Speaker 2: Through HR, so it lands. 134 00:05:55,240 --> 00:05:57,279 Speaker 4: And all he has to think about is when it 135 00:05:57,279 --> 00:05:59,240 Speaker 4: comes to his personal savings, whatever you want to do 136 00:05:59,240 --> 00:06:01,320 Speaker 4: to that, that's your business, as tab it. That would say, 137 00:06:01,360 --> 00:06:03,280 Speaker 4: the vegan vegan chef that ready loves right now, and 138 00:06:03,320 --> 00:06:06,760 Speaker 4: that's your business, right And it. All he has to 139 00:06:06,760 --> 00:06:09,000 Speaker 4: worry about too, is his basically his allowance in his 140 00:06:09,040 --> 00:06:12,080 Speaker 4: deposit account, in his spending account. So whatever is in 141 00:06:12,080 --> 00:06:13,839 Speaker 4: his spending account. If I see my husband with some 142 00:06:13,880 --> 00:06:15,800 Speaker 4: new JS on. Back in the day, I used to 143 00:06:15,880 --> 00:06:17,120 Speaker 4: be like, oh, that's what we're doing. 144 00:06:18,279 --> 00:06:21,279 Speaker 2: I enjoyers with the bread money. Now it's not no 145 00:06:21,360 --> 00:06:23,680 Speaker 2: more right because I know one thing. 146 00:06:23,760 --> 00:06:25,600 Speaker 4: He didn't take it from the bills account. He didn't 147 00:06:25,600 --> 00:06:26,880 Speaker 4: take it from our joint savings. 148 00:06:27,040 --> 00:06:28,120 Speaker 2: So if he took it from his. 149 00:06:28,040 --> 00:06:32,159 Speaker 4: Personal savings or his spending account, that's fine. 150 00:06:32,720 --> 00:06:33,880 Speaker 2: And so like if you don't know how. 151 00:06:33,800 --> 00:06:35,719 Speaker 4: To do anything else, if you just have at least 152 00:06:35,760 --> 00:06:39,880 Speaker 4: those three accounts and have your money automatically split from 153 00:06:39,960 --> 00:06:41,520 Speaker 4: well really four because you want to have a retirement 154 00:06:41,520 --> 00:06:44,760 Speaker 4: account and have your money split from work, then you 155 00:06:44,839 --> 00:06:47,640 Speaker 4: will be ahead of the game. And so for people 156 00:06:47,640 --> 00:06:49,159 Speaker 4: who want to go a little bit deeper. For me, 157 00:06:49,880 --> 00:06:51,200 Speaker 4: you know, like I, like I said, I like to 158 00:06:51,240 --> 00:06:51,680 Speaker 4: have spread to you. 159 00:06:51,760 --> 00:06:52,760 Speaker 2: I like to know how much we're. 160 00:06:52,600 --> 00:06:56,920 Speaker 4: Spending on on on groceries, how much we're spending on gas, 161 00:06:56,920 --> 00:06:58,920 Speaker 4: so I keep track of that. I just the tool 162 00:06:58,920 --> 00:07:00,880 Speaker 4: I like to use message Just so I like to 163 00:07:00,960 --> 00:07:03,320 Speaker 4: keep track of that there, but you don't necessarily have to. 164 00:07:03,400 --> 00:07:06,640 Speaker 4: You set aside a you know, an allowance for yourself. 165 00:07:07,320 --> 00:07:09,960 Speaker 4: Typically things are led by bills. So if ideally you 166 00:07:10,040 --> 00:07:12,640 Speaker 4: want to be setting aside twelve to fifteen percent for 167 00:07:12,720 --> 00:07:14,760 Speaker 4: your retirement, and you probably are saying like, I can't 168 00:07:14,800 --> 00:07:17,400 Speaker 4: afford to lose twelve to fifteen percent of life pay, 169 00:07:17,640 --> 00:07:19,400 Speaker 4: or to start with one percent, and every six months 170 00:07:19,400 --> 00:07:21,880 Speaker 4: you boosted up, start with a half percent, and every 171 00:07:21,880 --> 00:07:24,640 Speaker 4: six months you boosted up start with something towards retirement. 172 00:07:25,280 --> 00:07:26,360 Speaker 2: And then your bills. 173 00:07:26,400 --> 00:07:28,960 Speaker 4: I like to do bills every two weeks, so the 174 00:07:29,040 --> 00:07:32,440 Speaker 4: money I have transferred to the bills account, you ask yourself, okay, 175 00:07:32,440 --> 00:07:34,920 Speaker 4: how much are my bills from the first to the fifteenth, 176 00:07:35,080 --> 00:07:36,760 Speaker 4: and how much are my bills from the fifteen to 177 00:07:36,760 --> 00:07:38,920 Speaker 4: the thirtieth, And that's how you know how much to 178 00:07:39,080 --> 00:07:42,280 Speaker 4: be going into the bill's account, you know, So it 179 00:07:42,360 --> 00:07:44,200 Speaker 4: might be or you might just have a select number. 180 00:07:44,240 --> 00:07:45,080 Speaker 2: You might say, well, my. 181 00:07:45,080 --> 00:07:48,240 Speaker 4: Bills are around three thousand dollars a month, so every 182 00:07:48,280 --> 00:07:51,720 Speaker 4: paycheck or every pay period, my bi weekly or my 183 00:07:51,760 --> 00:07:54,000 Speaker 4: bi monthly pay period, fifteen hundred dollars is going to 184 00:07:54,000 --> 00:07:57,000 Speaker 4: go into my bill's account, and having your bills account 185 00:07:57,040 --> 00:07:59,760 Speaker 4: paid bills automatically for you is really going to be 186 00:07:59,840 --> 00:08:03,600 Speaker 4: like clutch, Like I don't pay bills, bills pay themselves, 187 00:08:03,760 --> 00:08:05,600 Speaker 4: so it lands on my bill's account, and then my 188 00:08:05,640 --> 00:08:09,680 Speaker 4: bills already know I pay my pay the electric bill, 189 00:08:09,840 --> 00:08:12,280 Speaker 4: pay the water bill, pay these bills for me automatically, 190 00:08:12,440 --> 00:08:15,040 Speaker 4: and like I said, what's left in mind, spend account 191 00:08:15,120 --> 00:08:17,400 Speaker 4: is attached to my DEBTIT card and I can spend 192 00:08:17,440 --> 00:08:19,640 Speaker 4: and when that money is done, so on mine. 193 00:08:20,040 --> 00:08:22,760 Speaker 2: What's really important too about a budget is is the 194 00:08:23,280 --> 00:08:24,120 Speaker 2: savings account. 195 00:08:24,240 --> 00:08:26,440 Speaker 4: I don't want you to save at your regular bank 196 00:08:26,840 --> 00:08:28,520 Speaker 4: because it makes it easy to transfer. 197 00:08:28,560 --> 00:08:31,600 Speaker 2: We've all been there at Target right and been like, 198 00:08:31,640 --> 00:08:33,199 Speaker 2: oh man, like I really want. 199 00:08:33,040 --> 00:08:35,480 Speaker 4: Whatever this thing is, this bleunder this dress, this shirt, 200 00:08:35,840 --> 00:08:37,800 Speaker 4: and you look at check in. You know Daril William 201 00:08:37,880 --> 00:08:39,480 Speaker 4: got no money and check in, but you know who 202 00:08:39,480 --> 00:08:43,280 Speaker 4: got money there, savings, And then you're in line making 203 00:08:43,280 --> 00:08:45,240 Speaker 4: that transfer like happy about it, tode like making a 204 00:08:45,240 --> 00:08:47,280 Speaker 4: transfer even though you're like that was supposed to be 205 00:08:47,280 --> 00:08:49,600 Speaker 4: for powers, You're like pass, can wait, tease your care 206 00:08:50,240 --> 00:08:50,720 Speaker 4: make that. 207 00:08:50,679 --> 00:08:51,920 Speaker 2: Transfer and you're like dang. 208 00:08:51,960 --> 00:08:53,520 Speaker 4: Later you're like this, why I don't never go nowhere 209 00:08:53,840 --> 00:08:55,839 Speaker 4: because I'm always at Target to buy a toilet tissue 210 00:08:55,880 --> 00:08:57,760 Speaker 4: and then I leave but three hundred dollars worth of stuff. 211 00:08:58,280 --> 00:09:01,480 Speaker 4: If you put your savings in an online only savings account, though, 212 00:09:02,280 --> 00:09:05,480 Speaker 4: then you're gonna have to wait at least twenty four 213 00:09:05,520 --> 00:09:08,400 Speaker 4: to seventy two hours for your savings at your online 214 00:09:08,440 --> 00:09:12,280 Speaker 4: only savings account to transfer back to your checking to 215 00:09:12,000 --> 00:09:13,760 Speaker 4: your spend account. 216 00:09:14,120 --> 00:09:15,920 Speaker 2: And so what that means is it makes your. 217 00:09:15,800 --> 00:09:18,959 Speaker 4: Money inconvenient, and inconvenient money get saved. So I like 218 00:09:19,000 --> 00:09:22,080 Speaker 4: this website called magnify money dot com to look for 219 00:09:22,080 --> 00:09:25,880 Speaker 4: an online only savings account because they grade savings accounts. 220 00:09:25,480 --> 00:09:27,280 Speaker 2: From A to F. So you're gonna look for an 221 00:09:27,320 --> 00:09:28,600 Speaker 2: a account that's one. 222 00:09:28,840 --> 00:09:32,080 Speaker 4: Two, you're gonna look for an account that's FDIC insured. 223 00:09:32,440 --> 00:09:32,920 Speaker 2: That's two. 224 00:09:33,559 --> 00:09:35,240 Speaker 4: Three, You're gonna look for an account that's gonna give 225 00:09:35,240 --> 00:09:37,760 Speaker 4: the highest interest rate because your your big bank is 226 00:09:37,800 --> 00:09:39,640 Speaker 4: not gonna give you much of an interest rate. So 227 00:09:40,040 --> 00:09:43,120 Speaker 4: online only savings accounts don't have as much overhead, so 228 00:09:43,160 --> 00:09:43,920 Speaker 4: they pass that on. 229 00:09:43,960 --> 00:09:45,480 Speaker 2: To you and you earn a higher interest. 230 00:09:46,120 --> 00:09:48,800 Speaker 4: And then four, you're going to look for a bank 231 00:09:48,800 --> 00:09:52,559 Speaker 4: that has low deposit requirement, so that means in order 232 00:09:52,600 --> 00:09:54,520 Speaker 4: to open up the bank account, maybe you have to 233 00:09:54,760 --> 00:09:56,760 Speaker 4: you have to put in a dollar and also too 234 00:09:56,840 --> 00:09:59,680 Speaker 4: in order to maintain and get that interest. You don't 235 00:09:59,679 --> 00:10:01,319 Speaker 4: want that to say you have to have ten thousand 236 00:10:01,360 --> 00:10:02,800 Speaker 4: dollars in the bank account in order for you to 237 00:10:02,840 --> 00:10:06,080 Speaker 4: earn the interests that they've advertised. So those are the 238 00:10:06,120 --> 00:10:08,000 Speaker 4: four components you're going to look for in your online 239 00:10:08,000 --> 00:10:08,600 Speaker 4: safe account. 240 00:10:08,880 --> 00:10:11,240 Speaker 2: So I hate to say, like, oh, twenty percent here, 241 00:10:11,280 --> 00:10:15,199 Speaker 2: thirty percent there. Unless you have an irregular income. 242 00:10:15,440 --> 00:10:17,800 Speaker 4: You don't have to live by percentages. You would live 243 00:10:17,840 --> 00:10:21,520 Speaker 4: by amounts. So one hundred dollars here, three hundred dollars there, 244 00:10:21,960 --> 00:10:24,280 Speaker 4: four hundred dollars here. That's what you're That's the split 245 00:10:24,320 --> 00:10:26,560 Speaker 4: that you should be doing regularly every month. If your 246 00:10:26,679 --> 00:10:30,200 Speaker 4: money it fluctuates because you have an irregular income, then 247 00:10:30,240 --> 00:10:33,720 Speaker 4: you might say, you know, forty percent goes into my bills. 248 00:10:34,800 --> 00:10:36,840 Speaker 4: You know five percent goes into spending. 249 00:10:37,640 --> 00:10:38,199 Speaker 2: But you have to. 250 00:10:38,160 --> 00:10:40,840 Speaker 4: Work backwards, like how much are your bills Unless you're 251 00:10:40,840 --> 00:10:42,920 Speaker 4: starting from scratching your twenty one you're just moving out 252 00:10:43,120 --> 00:10:46,400 Speaker 4: that you can force your bills to fit within that percentage. 253 00:10:46,480 --> 00:10:49,200 Speaker 2: But it's easy for people to say oh, seventy thirty. Yeah, 254 00:10:49,240 --> 00:10:50,800 Speaker 2: but like, so what are your bills actually? 255 00:10:50,840 --> 00:10:52,640 Speaker 4: Though your bills might be seventy percent of your income 256 00:10:52,720 --> 00:10:55,559 Speaker 4: right now, you know, so that's so you have to 257 00:10:55,559 --> 00:10:58,360 Speaker 4: pay your bills and you're I'm not worried about the percentage. 258 00:10:58,400 --> 00:11:00,680 Speaker 4: Just now, like how much you actually need to pay bills? 259 00:11:00,840 --> 00:11:03,840 Speaker 4: Put that in the bill's account. Okay, how much ideally 260 00:11:03,840 --> 00:11:05,680 Speaker 4: do you want to save once those bills are paid. 261 00:11:05,720 --> 00:11:07,560 Speaker 4: I want to save one hundred dollars a month, So 262 00:11:07,679 --> 00:11:09,800 Speaker 4: make that a bill. Now that one hundred dollars a 263 00:11:09,840 --> 00:11:12,400 Speaker 4: month is automatically put into that savings account directly from 264 00:11:12,440 --> 00:11:14,960 Speaker 4: your job. And then what's left over, like I said, 265 00:11:15,040 --> 00:11:16,960 Speaker 4: is your spending money. You know, you might tell yourself, 266 00:11:17,000 --> 00:11:19,680 Speaker 4: I'm going to give myself fifty dollars every two weeks 267 00:11:19,679 --> 00:11:23,280 Speaker 4: for spending. Okay, great, and for whatever reason, if there's 268 00:11:23,280 --> 00:11:26,000 Speaker 4: not enough money, then you take care of bills. You say, 269 00:11:26,000 --> 00:11:27,600 Speaker 4: I guess I can't save this month, And I guess 270 00:11:27,640 --> 00:11:31,600 Speaker 4: I can't. I don't have spending money this month for like, 271 00:11:31,640 --> 00:11:33,160 Speaker 4: you know, spending money for things that. 272 00:11:33,160 --> 00:11:36,559 Speaker 2: Are like you know, like hair nails, grooming, this and that. 273 00:11:36,679 --> 00:11:38,920 Speaker 2: You know, so sometimes you don't have it and that's okay. 274 00:11:39,120 --> 00:11:40,960 Speaker 4: So there are times when I didn't have it, but 275 00:11:41,000 --> 00:11:43,320 Speaker 4: I had to pay bills, and even sometimes I didn't 276 00:11:43,320 --> 00:11:44,720 Speaker 4: have enough for bills, and I had to say, well, 277 00:11:44,760 --> 00:11:47,000 Speaker 4: I have to pay my noodle budget bills, my essential bills. 278 00:11:47,280 --> 00:11:50,520 Speaker 4: Verizon can wait. Rising is not going to shoot you 279 00:11:50,559 --> 00:11:53,199 Speaker 4: if you don't pay. Yes, we'll affect your credit score, 280 00:11:53,200 --> 00:11:55,080 Speaker 4: but credit scores are things that you can you can 281 00:11:55,200 --> 00:11:58,160 Speaker 4: you can increase later. I much rather you take care 282 00:11:58,200 --> 00:11:59,520 Speaker 4: of things that are going to make you happy, I 283 00:11:59,559 --> 00:12:01,360 Speaker 4: mean healthy and safe. 284 00:12:02,000 --> 00:12:03,880 Speaker 5: I was just thinking about that because one of the things, 285 00:12:03,920 --> 00:12:07,120 Speaker 5: the powerful things you talk about is identifying ifs, Like 286 00:12:07,160 --> 00:12:09,320 Speaker 5: we can have anything we want if we just identify 287 00:12:09,360 --> 00:12:12,240 Speaker 5: our ifs in control them so that we can budget. 288 00:12:12,320 --> 00:12:12,440 Speaker 2: Right. 289 00:12:12,600 --> 00:12:15,480 Speaker 5: So if I want to say four hundred dollars, maybe 290 00:12:15,640 --> 00:12:18,800 Speaker 5: I don't go to the barbershop twice a week, right, 291 00:12:18,880 --> 00:12:20,840 Speaker 5: So can you talk about the your points of identifying 292 00:12:20,880 --> 00:12:22,920 Speaker 5: the ifs and how they can translate to having more 293 00:12:22,960 --> 00:12:23,760 Speaker 5: money in your budget? 294 00:12:24,320 --> 00:12:24,800 Speaker 2: Absolutely? 295 00:12:24,840 --> 00:12:26,800 Speaker 4: There are four questions you ask yourself before you spend 296 00:12:26,800 --> 00:12:27,400 Speaker 4: any money. 297 00:12:27,600 --> 00:12:30,719 Speaker 2: Do I need it? Do I love it? Do I 298 00:12:30,880 --> 00:12:33,040 Speaker 2: like it? Do I want it? Need it? Love it 299 00:12:33,280 --> 00:12:35,679 Speaker 2: like it, want it, need it, love it, like it one. 300 00:12:35,760 --> 00:12:40,319 Speaker 2: We need to switch on right. So your needs come first. 301 00:12:40,400 --> 00:12:43,559 Speaker 4: That's food, cholter, clothing, water, the absolute necessities you must 302 00:12:43,640 --> 00:12:45,240 Speaker 4: have to stay healthy and safe. 303 00:12:45,440 --> 00:12:47,360 Speaker 2: You pay for those first. Most of us are here 304 00:12:47,400 --> 00:12:48,480 Speaker 2: to that. That's why you're alive. 305 00:12:48,920 --> 00:12:52,800 Speaker 4: Then your loves are those things that enhance your life. 306 00:12:53,080 --> 00:12:56,720 Speaker 4: What are things five ten years from now that's still 307 00:12:56,760 --> 00:13:00,160 Speaker 4: our value even though that thing might not be there right. 308 00:13:00,200 --> 00:13:01,920 Speaker 2: So if you had Oprah's bank account, I always tell 309 00:13:01,920 --> 00:13:03,160 Speaker 2: people what would you do or do more of? 310 00:13:03,640 --> 00:13:05,720 Speaker 4: So a lot of people say travel, maybe they'd start 311 00:13:05,760 --> 00:13:07,839 Speaker 4: a business, maybe they go back to school. 312 00:13:07,760 --> 00:13:10,840 Speaker 2: Maybe the philanthropy, whatever that is. So those are your loves. 313 00:13:10,840 --> 00:13:14,160 Speaker 4: Those are things that give you long term joy, even 314 00:13:14,200 --> 00:13:17,280 Speaker 4: when that thing is not physically there right. And then 315 00:13:17,840 --> 00:13:21,319 Speaker 4: your likes are short term joy. So you know that's 316 00:13:21,360 --> 00:13:25,319 Speaker 4: your target. Run, that's your that's that dress that you're like, oh, 317 00:13:25,320 --> 00:13:28,360 Speaker 4: this is super cute. You know that might be I 318 00:13:28,400 --> 00:13:30,280 Speaker 4: don't know, eating out with friends or eating out with 319 00:13:30,320 --> 00:13:31,920 Speaker 4: friends might be a love because you might be like, yo, 320 00:13:32,000 --> 00:13:33,000 Speaker 4: I'm such a foodie. 321 00:13:33,040 --> 00:13:35,960 Speaker 2: Five years from now, I'm remembering that restaurant. So there's 322 00:13:35,960 --> 00:13:37,520 Speaker 2: no judgment. You get to decide, but. 323 00:13:37,559 --> 00:13:40,560 Speaker 4: Likes our short term joy and wants are just things 324 00:13:40,559 --> 00:13:42,320 Speaker 4: to get. I really try to stay away from just 325 00:13:42,400 --> 00:13:44,880 Speaker 4: frivolous spending, which is what wants are. It doesn't mean 326 00:13:44,920 --> 00:13:47,080 Speaker 4: I never do it, but it doesn't make sense to 327 00:13:47,160 --> 00:13:49,400 Speaker 4: trick up your money and wants when you can have 328 00:13:49,520 --> 00:13:53,679 Speaker 4: more things for loves and your needs. And so what 329 00:13:53,720 --> 00:13:55,040 Speaker 4: I try to do is so I try to live 330 00:13:55,080 --> 00:13:57,440 Speaker 4: in the second half, the first half of life, my 331 00:13:57,559 --> 00:13:59,160 Speaker 4: needs and my loves, because that's an. 332 00:13:59,120 --> 00:14:02,160 Speaker 2: Enriched, fuck filled life. So I'm not. 333 00:14:02,080 --> 00:14:05,520 Speaker 4: Really a foodie, although my belly would to just otherwise, 334 00:14:06,240 --> 00:14:08,839 Speaker 4: but I'm I'm not really a foodie. But I used 335 00:14:08,840 --> 00:14:11,360 Speaker 4: to go eat brunch every weekend with my friends and 336 00:14:11,360 --> 00:14:12,520 Speaker 4: then one day I was like, why thew am I 337 00:14:12,520 --> 00:14:14,000 Speaker 4: going to bunch? I have not been on vacation in 338 00:14:14,040 --> 00:14:16,680 Speaker 4: like two years, So I stopped going. They're like, yo, Hilly, 339 00:14:16,679 --> 00:14:19,320 Speaker 4: you're so cheap, right, And I'm like, I'm not cheap. 340 00:14:19,320 --> 00:14:20,560 Speaker 4: It's just that, like, I don't want to spend my 341 00:14:20,560 --> 00:14:21,320 Speaker 4: money on bunch anymore. 342 00:14:21,360 --> 00:14:24,560 Speaker 2: I don't want to spend thirty dollars a week eating brunch. 343 00:14:24,320 --> 00:14:26,160 Speaker 4: And so I started saving my brunch money that I 344 00:14:26,200 --> 00:14:27,680 Speaker 4: made it a game. Every time they asked me to 345 00:14:27,680 --> 00:14:29,560 Speaker 4: go to brunch, I would put I would transfer thirty 346 00:14:29,600 --> 00:14:32,080 Speaker 4: dollars to my savings account, and then within a few 347 00:14:32,120 --> 00:14:34,120 Speaker 4: months I had enough money. I went for my first 348 00:14:34,120 --> 00:14:37,680 Speaker 4: solo travel trip. I went to Albuquerque, New Mexico because 349 00:14:37,760 --> 00:14:39,440 Speaker 4: I had on my bucket list I wanted to ride 350 00:14:39,440 --> 00:14:42,240 Speaker 4: in a hot air balloon. In Albuquerque, New Mexico is 351 00:14:42,240 --> 00:14:43,800 Speaker 4: the high air bloon capital of the world. 352 00:14:43,800 --> 00:14:44,280 Speaker 2: Who knew? 353 00:14:44,360 --> 00:14:47,640 Speaker 4: Now you does, right, and so I was like, okay, 354 00:14:47,720 --> 00:14:50,480 Speaker 4: So I remember my friend called me Tajana. 355 00:14:50,560 --> 00:14:52,040 Speaker 2: She was like, hey, girl, we're about to have We're 356 00:14:52,040 --> 00:14:54,040 Speaker 2: gonna have brunch tomorrow. But I know you and Yo 357 00:14:54,120 --> 00:14:55,400 Speaker 2: cheap behind you ain't going. 358 00:14:55,720 --> 00:14:57,440 Speaker 4: I was like, cause, I was like slight flex, well, 359 00:14:57,480 --> 00:14:59,720 Speaker 4: actually major flex. I was like, ooh, girl, I was 360 00:14:59,720 --> 00:15:01,680 Speaker 4: about to getting a hot air balloon. The captain said, 361 00:15:01,680 --> 00:15:02,440 Speaker 4: I gotta turn off my phone. 362 00:15:02,480 --> 00:15:04,720 Speaker 2: Can I call you later? She was like, I had 363 00:15:04,720 --> 00:15:08,040 Speaker 2: an air balloon and Newer. I'm like, no, girl, New Mexico. 364 00:15:08,960 --> 00:15:10,840 Speaker 2: That's when I do with my brunch money. Mike drop. 365 00:15:12,080 --> 00:15:15,520 Speaker 4: Okay, So now I don't I stop telling my friends. 366 00:15:15,600 --> 00:15:17,280 Speaker 2: I don't say I don't say no to brunch. 367 00:15:17,320 --> 00:15:19,680 Speaker 4: I'll tell them like, ah Na, girl, I can't go 368 00:15:19,760 --> 00:15:22,160 Speaker 4: right now because I'm saying yes to Paris, I'm saying 369 00:15:22,240 --> 00:15:25,040 Speaker 4: yes to Istanbul, I'm saying yes to Seratarina. These are 370 00:15:25,040 --> 00:15:27,800 Speaker 4: places I've been. I'm saying yes to Morocco. And so 371 00:15:27,880 --> 00:15:30,040 Speaker 4: I started to decide for myself. 372 00:15:29,680 --> 00:15:31,200 Speaker 2: What my needs and my loves were. 373 00:15:31,400 --> 00:15:34,200 Speaker 4: So I'm not against spending money. I'm against spending money 374 00:15:34,240 --> 00:15:37,280 Speaker 4: on things that don't matter to you. Prioritize what your 375 00:15:37,480 --> 00:15:40,840 Speaker 4: more is, like some of us are spending our whole 376 00:15:41,120 --> 00:15:44,920 Speaker 4: life spending money on someone else's idea of more. Tajuana 377 00:15:45,000 --> 00:15:47,760 Speaker 4: is a foodie, not me. That's her more, that's less 378 00:15:47,760 --> 00:15:49,880 Speaker 4: for me. You know, let her eat out with another 379 00:15:49,880 --> 00:15:51,360 Speaker 4: food if she can come to my house and chill 380 00:15:51,400 --> 00:15:53,440 Speaker 4: out for free. And so that's really how you start 381 00:15:53,480 --> 00:15:55,880 Speaker 4: to prioritize, just to ask yourself, like. 382 00:15:55,840 --> 00:15:57,720 Speaker 2: What does more of a life truly mean? 383 00:15:58,160 --> 00:16:00,320 Speaker 4: You know, for me, I don't want an You know, 384 00:16:00,360 --> 00:16:03,120 Speaker 4: your spending should be reflective of your values and how 385 00:16:03,160 --> 00:16:04,120 Speaker 4: you want your life to go. 386 00:16:04,360 --> 00:16:07,960 Speaker 3: So you said, Ernests, what's up. 387 00:16:08,040 --> 00:16:11,080 Speaker 5: You ever walk into a small business and everything just works, 388 00:16:11,440 --> 00:16:14,760 Speaker 5: like the checkout is fast, or seats are digital? Tipping 389 00:16:15,000 --> 00:16:17,440 Speaker 5: is a breeze and you're out the door before the 390 00:16:17,480 --> 00:16:21,880 Speaker 5: line even builds odds are they're using Square. 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Prescription required 435 00:18:55,520 --> 00:18:57,520 Speaker 6: restrictions at for hers dot com apply. 436 00:18:57,480 --> 00:18:59,159 Speaker 3: With the online savings. That was a good point I 437 00:18:59,200 --> 00:19:00,800 Speaker 3: tell people to all, it's like you got to treat 438 00:19:00,840 --> 00:19:03,520 Speaker 3: your savings like a bill, like how you have your bill, 439 00:19:03,600 --> 00:19:05,600 Speaker 3: your car bill. Like you can't afford to not pay 440 00:19:05,600 --> 00:19:07,119 Speaker 3: your car bill. You can't afford to not pay your 441 00:19:07,119 --> 00:19:09,400 Speaker 3: cell phone bill. So savings, like you said, no matter 442 00:19:09,400 --> 00:19:11,600 Speaker 3: how much it is, it should be a line item 443 00:19:11,760 --> 00:19:13,919 Speaker 3: and a bill. I think, but I wanted touch on. 444 00:19:13,920 --> 00:19:16,359 Speaker 3: I had a few questions. So first when you had 445 00:19:16,440 --> 00:19:19,200 Speaker 3: mentioned with your husband with HR, so I didn't even 446 00:19:19,200 --> 00:19:21,680 Speaker 3: know that was possible. So somebody's paycheck can be split 447 00:19:21,720 --> 00:19:25,040 Speaker 3: into different bank accounts for direct depositis. 448 00:19:24,840 --> 00:19:28,520 Speaker 4: Typically up to four so most mid size so like 449 00:19:28,560 --> 00:19:30,200 Speaker 4: even my company, I don't have some huge company, but 450 00:19:30,240 --> 00:19:32,719 Speaker 4: we're able to do that. So typically up to four splits. 451 00:19:33,000 --> 00:19:35,720 Speaker 4: And so if you're if you're a single. 452 00:19:35,560 --> 00:19:38,680 Speaker 2: Ready to mingle, I would say your bill's. 453 00:19:38,359 --> 00:19:42,399 Speaker 4: Account a like, and your savings account and your spending account. 454 00:19:42,400 --> 00:19:43,800 Speaker 2: So I would do the three right. 455 00:19:45,000 --> 00:19:48,680 Speaker 4: So, but if you are in a relationship where you're 456 00:19:48,760 --> 00:19:51,440 Speaker 4: like sharing expenses, then I would have four. I believe 457 00:19:51,440 --> 00:19:53,920 Speaker 4: that you should have some autonomy over your finances as 458 00:19:53,960 --> 00:19:57,080 Speaker 4: well as responsibility because you're with someone. So that would 459 00:19:57,119 --> 00:20:00,359 Speaker 4: be a personal savings each person, a joint safe thanks 460 00:20:01,880 --> 00:20:07,040 Speaker 4: and joint bills and and and then your own spending accounts. 461 00:20:07,040 --> 00:20:09,720 Speaker 4: So to checking two savings, so one of the checking 462 00:20:09,760 --> 00:20:12,320 Speaker 4: one of the savings is yours and the other checking 463 00:20:12,359 --> 00:20:15,040 Speaker 4: the other savings is someone else's I'm well belongs to 464 00:20:15,440 --> 00:20:16,600 Speaker 4: collectively to the whole. 465 00:20:17,480 --> 00:20:19,280 Speaker 3: And all you have to do is just go to 466 00:20:19,440 --> 00:20:22,000 Speaker 3: HR And it's like a form like the regular direct 467 00:20:22,000 --> 00:20:23,720 Speaker 3: depositive form that you fill out, but it's just like 468 00:20:23,760 --> 00:20:25,760 Speaker 3: you can just add different bank accounts to it, yes, 469 00:20:25,880 --> 00:20:26,600 Speaker 3: and tell them this. 470 00:20:26,520 --> 00:20:28,120 Speaker 4: Is the amount, like well, like you know, my check 471 00:20:28,240 --> 00:20:31,040 Speaker 4: is five thousand dollars, you know, like to say a 472 00:20:31,080 --> 00:20:33,320 Speaker 4: pay period, a thousand goes here, a thousand goes here, 473 00:20:33,320 --> 00:20:35,800 Speaker 4: a thousand goes here and so now like the other day, 474 00:20:35,960 --> 00:20:38,480 Speaker 4: because because because it's online only savings, we don't look 475 00:20:38,480 --> 00:20:39,200 Speaker 4: at it all the time. 476 00:20:39,640 --> 00:20:43,360 Speaker 2: My husband is like, yo, babe, I got mad money 477 00:20:43,440 --> 00:20:48,560 Speaker 2: in my savings. I'm like, okay, you're welcome, I upgrade, right. 478 00:20:49,880 --> 00:20:52,399 Speaker 4: But he was like, never had this much save because 479 00:20:52,400 --> 00:20:54,480 Speaker 4: he doesn't think about it. It's been like the last 480 00:20:54,480 --> 00:20:57,160 Speaker 4: two or three years, and money will just land. So 481 00:20:57,240 --> 00:20:59,359 Speaker 4: my husband is the type maybe this is all. 482 00:20:59,280 --> 00:21:01,760 Speaker 2: Man with their boys. You know, your boys be like yo, yo, 483 00:21:01,800 --> 00:21:04,320 Speaker 2: you can let me hold thirty dollars. You will let me, 484 00:21:04,480 --> 00:21:04,719 Speaker 2: you know. 485 00:21:04,920 --> 00:21:07,640 Speaker 7: And so he would always be like, yo, behave such 486 00:21:07,640 --> 00:21:09,560 Speaker 7: and such as you know such and such a struggling 487 00:21:09,600 --> 00:21:13,520 Speaker 7: to be and I'd be like, who tone, I don't 488 00:21:13,520 --> 00:21:16,160 Speaker 7: even like tone, right, but like you know so now 489 00:21:16,200 --> 00:21:17,879 Speaker 7: because so we would have to be talking back and 490 00:21:17,960 --> 00:21:18,960 Speaker 7: forth to take money out of. 491 00:21:18,880 --> 00:21:19,880 Speaker 2: Our joint pot. 492 00:21:20,320 --> 00:21:22,840 Speaker 4: So now there's none of that because one you have 493 00:21:22,920 --> 00:21:24,840 Speaker 4: your own allowance money and you have your own savings. 494 00:21:24,920 --> 00:21:26,800 Speaker 4: You want to give tone all your savior and that's 495 00:21:26,800 --> 00:21:27,800 Speaker 4: how you want to live your life. 496 00:21:27,920 --> 00:21:31,520 Speaker 2: Go ahead, you know its joint account exactly. 497 00:21:31,640 --> 00:21:33,600 Speaker 4: I was like, I'm looking at the joint saving and 498 00:21:33,640 --> 00:21:35,879 Speaker 4: the doorbell, I say, okay, long as I'll see no 499 00:21:35,960 --> 00:21:39,159 Speaker 4: tone bill and that So it allows you, you know, 500 00:21:39,200 --> 00:21:40,760 Speaker 4: so everyone to feel like you're part of this. 501 00:21:40,720 --> 00:21:43,320 Speaker 2: Community where you're all contributing. 502 00:21:42,720 --> 00:21:44,399 Speaker 4: But allows you to have autonomy, like he could do 503 00:21:44,400 --> 00:21:46,600 Speaker 4: whatever he wants with well, not whatever he wants, but 504 00:21:46,920 --> 00:21:48,399 Speaker 4: you know what I mean, like with his money, he 505 00:21:48,440 --> 00:21:50,919 Speaker 4: can decide. And so I think that works best for 506 00:21:51,280 --> 00:21:53,520 Speaker 4: if you're in a significant relationship with someone. 507 00:21:53,760 --> 00:21:56,800 Speaker 3: And another thing, the last question showed the online savings. 508 00:21:56,800 --> 00:21:58,800 Speaker 3: Like I said, I believe the same thing you said, 509 00:21:58,840 --> 00:22:00,159 Speaker 3: as far as it's good to have it now with 510 00:22:00,160 --> 00:22:02,399 Speaker 3: the bank like I Chase. I have Chase from my 511 00:22:02,520 --> 00:22:04,879 Speaker 3: business and my personal bank account, but I have Capital 512 00:22:04,920 --> 00:22:08,200 Speaker 3: one my online savings. And yeah, the reason is that 513 00:22:08,280 --> 00:22:10,000 Speaker 3: it's notice a whole hassle to get the money. You 514 00:22:10,040 --> 00:22:12,879 Speaker 3: gotta wait like three days. So psychologically it's like out 515 00:22:12,960 --> 00:22:14,840 Speaker 3: of sight, out of mind when you when you when 516 00:22:14,880 --> 00:22:16,720 Speaker 3: I log on the Chase app, I don't see it. 517 00:22:16,920 --> 00:22:18,680 Speaker 3: I even forget about it. I was just thinking about 518 00:22:18,680 --> 00:22:21,119 Speaker 3: it just now, like I forgot about haven't I forgot 519 00:22:21,119 --> 00:22:22,840 Speaker 3: about it? I haven't really been you know what I'm saying. So, 520 00:22:23,960 --> 00:22:27,760 Speaker 3: but what do you have any top banks that you're 521 00:22:27,800 --> 00:22:30,639 Speaker 3: recommending like or like interest rates that we should be 522 00:22:30,720 --> 00:22:32,560 Speaker 3: because I figure, I forget what my interest rate is. 523 00:22:32,560 --> 00:22:34,480 Speaker 3: I know it's slightly higher, like you said, because online 524 00:22:34,520 --> 00:22:36,600 Speaker 3: banks don't have the same brick and mortar expenses as 525 00:22:36,840 --> 00:22:40,119 Speaker 3: regular traditional banks do. So it's always good to have 526 00:22:40,160 --> 00:22:43,239 Speaker 3: an online bank for the higher interest rate. But are 527 00:22:43,280 --> 00:22:45,520 Speaker 3: there any ones that in particular right now that's paying 528 00:22:45,720 --> 00:22:47,919 Speaker 3: higher interest rates than others? 529 00:22:49,200 --> 00:22:51,600 Speaker 4: There was so his being like one, I'm like, these 530 00:22:51,640 --> 00:22:52,679 Speaker 4: banks will pay my bills. 531 00:22:52,920 --> 00:22:55,960 Speaker 2: People always might know, but honestly, so the reason. 532 00:22:55,680 --> 00:22:58,240 Speaker 4: Why I tell people like I, I'm currently with Ally 533 00:22:58,280 --> 00:23:00,320 Speaker 4: Bank A L L Y right. 534 00:23:00,480 --> 00:23:01,359 Speaker 2: But here's the thing. 535 00:23:01,680 --> 00:23:04,159 Speaker 4: Ali Bank, back in the day they had the best 536 00:23:05,160 --> 00:23:06,320 Speaker 4: They had the best interest rate. 537 00:23:06,359 --> 00:23:08,760 Speaker 2: They don't anymore. Their interest rate is okay. 538 00:23:08,800 --> 00:23:10,240 Speaker 4: I think last of my check it was like, well 539 00:23:10,320 --> 00:23:12,680 Speaker 4: on one point five percent. But there are banks out there. 540 00:23:12,680 --> 00:23:14,560 Speaker 4: There was a Credit Union when I looked at Magnifying 541 00:23:14,560 --> 00:23:17,199 Speaker 4: Money the other day that was given two percent. So 542 00:23:17,359 --> 00:23:20,600 Speaker 4: I definitely say go for the bank that's giving the 543 00:23:20,680 --> 00:23:23,959 Speaker 4: highest indust rate. There's also Goldman Sachs has a has 544 00:23:24,000 --> 00:23:26,440 Speaker 4: a bank account called like Marcus my Goldman Sachs you know. 545 00:23:26,520 --> 00:23:30,440 Speaker 4: That's another one. So you know, I say that there 546 00:23:30,520 --> 00:23:34,240 Speaker 4: isn't a best bank. If the bank is FDIC insured 547 00:23:34,280 --> 00:23:36,040 Speaker 4: and they're paying you the highest interest rate, that's the 548 00:23:36,040 --> 00:23:38,920 Speaker 4: best bank. Like I said, I like ally, but I'm 549 00:23:38,920 --> 00:23:41,120 Speaker 4: only there now because I signed up with them originally. 550 00:23:41,200 --> 00:23:44,080 Speaker 4: But best believe, go with the coins are you don't 551 00:23:44,119 --> 00:23:45,320 Speaker 4: have to be loyal to your bank. 552 00:23:45,320 --> 00:23:48,320 Speaker 2: They're not loyal to you. You know, go with who's 553 00:23:48,560 --> 00:23:49,840 Speaker 2: giving you them coins. Yeah. 554 00:23:50,040 --> 00:23:51,879 Speaker 5: One of the things you said about having a joint account, 555 00:23:51,920 --> 00:23:53,399 Speaker 5: you know I can attest to. I think it's a 556 00:23:53,400 --> 00:23:57,400 Speaker 5: great idea, especially for married couples. I heard you preach 557 00:23:57,440 --> 00:23:59,879 Speaker 5: about prepared to invest, right, So if you have that 558 00:24:00,080 --> 00:24:03,320 Speaker 5: join account, what is something that couples could think about investing? 559 00:24:04,280 --> 00:24:05,119 Speaker 2: So this is great. 560 00:24:05,160 --> 00:24:08,919 Speaker 4: So people ask me, like, here's the steps to preparing 561 00:24:08,960 --> 00:24:11,159 Speaker 4: to invest so you don't have to wait to invest 562 00:24:11,200 --> 00:24:14,400 Speaker 4: for retirement. So to be clear, when I say retirement 563 00:24:14,480 --> 00:24:17,280 Speaker 4: is an investment, the purpose of retirement is not so 564 00:24:17,280 --> 00:24:19,200 Speaker 4: you're going You're not gonna live on no private island 565 00:24:19,280 --> 00:24:21,600 Speaker 4: in retirement unless you're living on. 566 00:24:21,520 --> 00:24:22,560 Speaker 2: A private island. Now. 567 00:24:23,040 --> 00:24:26,760 Speaker 4: Retirement is so you can maintain your current lifestyle if 568 00:24:26,760 --> 00:24:30,280 Speaker 4: you set aside twelve to fifteen percent of your income 569 00:24:30,320 --> 00:24:33,240 Speaker 4: now your gross income now, and that's all you ever do. 570 00:24:33,720 --> 00:24:37,160 Speaker 4: What that will inability to do is maintain your current lifestyle. 571 00:24:37,280 --> 00:24:39,000 Speaker 4: So if you don't see palm trees next to you now, 572 00:24:39,040 --> 00:24:40,800 Speaker 4: you ain't gonna see palm trees when you eighty. 573 00:24:41,320 --> 00:24:41,639 Speaker 2: Right. 574 00:24:41,920 --> 00:24:44,119 Speaker 4: So then so you do that first and foremost, because 575 00:24:44,119 --> 00:24:47,080 Speaker 4: you must set aside for your future self and it's 576 00:24:47,119 --> 00:24:49,280 Speaker 4: your younger self job to look after your future self, 577 00:24:49,320 --> 00:24:52,640 Speaker 4: so that comes first. Then after you're doing that, then 578 00:24:52,800 --> 00:24:55,679 Speaker 4: you have to have a budget. Right, you have to 579 00:24:55,720 --> 00:24:59,640 Speaker 4: have some sort of physical plan of what your money 580 00:24:59,720 --> 00:25:02,320 Speaker 4: is doing. This much is going to build, this much 581 00:25:02,400 --> 00:25:04,080 Speaker 4: is going to spend him something. 582 00:25:04,119 --> 00:25:06,479 Speaker 2: So that's step two. Do you have a budget? Check 583 00:25:06,520 --> 00:25:08,080 Speaker 2: before people say or I want to invest, I'm like 584 00:25:08,359 --> 00:25:11,440 Speaker 2: slow down, slow down? Son? You killing them? Who's filling 585 00:25:11,440 --> 00:25:14,040 Speaker 2: them with? Obtained? You didn't not have boss? Right, So 586 00:25:15,440 --> 00:25:19,320 Speaker 2: that's too. Do you have a budget? Great? Now, step 587 00:25:19,440 --> 00:25:24,320 Speaker 2: number three right, do you have savings? Right? So, do 588 00:25:24,400 --> 00:25:25,879 Speaker 2: you have emergency. 589 00:25:25,320 --> 00:25:28,120 Speaker 4: Savings at minimum minimum minum during the recession I say 590 00:25:28,240 --> 00:25:30,760 Speaker 4: six months. During a non recession, I say at least 591 00:25:30,800 --> 00:25:33,639 Speaker 4: three months three months of your noodle budget? Meaning do 592 00:25:33,720 --> 00:25:36,800 Speaker 4: you have three months of your essential bills saved? Because 593 00:25:36,800 --> 00:25:40,280 Speaker 4: we already talked about if you were to lose your job, 594 00:25:40,280 --> 00:25:41,719 Speaker 4: you're gonna drop down and get your noodle on. You're 595 00:25:41,720 --> 00:25:43,480 Speaker 4: not gonna be living at the same You're not gonna 596 00:25:43,480 --> 00:25:45,120 Speaker 4: be living at your three thousand dollar budge. You're gonna 597 00:25:45,119 --> 00:25:47,119 Speaker 4: be living at your twenty five hundred dollar budget. So 598 00:25:47,200 --> 00:25:49,240 Speaker 4: do you have at least three months of your noodle 599 00:25:49,320 --> 00:25:52,400 Speaker 4: budget saved? That's important because that is going to help 600 00:25:52,440 --> 00:25:53,879 Speaker 4: you if times get rough and tough. 601 00:25:54,200 --> 00:25:57,679 Speaker 2: Do you have that great? Then number four, do you 602 00:25:57,880 --> 00:26:00,920 Speaker 2: have high interest debt? 603 00:26:01,280 --> 00:26:04,040 Speaker 4: Meaning how are you going to invest when you owe 604 00:26:04,119 --> 00:26:08,040 Speaker 4: visa at eighteen nineteen twenty five thirty percent? 605 00:26:08,840 --> 00:26:09,920 Speaker 2: Do you think you've got to get a. 606 00:26:09,840 --> 00:26:15,320 Speaker 4: Return of fifteen thirteen you know, thirty percent? No, On average, 607 00:26:15,400 --> 00:26:18,080 Speaker 4: the market yields about seven to eight percent a year. 608 00:26:18,400 --> 00:26:20,560 Speaker 2: So what that means is you put your. 609 00:26:20,480 --> 00:26:23,720 Speaker 4: Money in the market, on average, you're going to get 610 00:26:23,760 --> 00:26:27,959 Speaker 4: back eight cents. Let's just say, but because you have 611 00:26:28,040 --> 00:26:32,520 Speaker 4: credit card debt, you're losing eighteen cents a month or year. 612 00:26:32,960 --> 00:26:36,000 Speaker 4: So you make it eight cents and losing eighteen cents 613 00:26:36,119 --> 00:26:37,960 Speaker 4: the best thing you can do is pay off the 614 00:26:37,960 --> 00:26:40,720 Speaker 4: credit card debt, the high interest credit card debt, because 615 00:26:40,720 --> 00:26:43,520 Speaker 4: you're losing more than you're likely to gain in the market. 616 00:26:43,680 --> 00:26:46,560 Speaker 4: So before you start investing, you and your boo, like, 617 00:26:46,680 --> 00:26:49,480 Speaker 4: get rid of that high interest credit card debt first 618 00:26:49,520 --> 00:26:50,000 Speaker 4: and foremost. 619 00:26:50,000 --> 00:26:52,320 Speaker 2: So that's four. So now you've done all those four things. 620 00:26:52,320 --> 00:26:54,600 Speaker 4: You feeling cue, Okay, you feeling spicy. Now we can 621 00:26:54,760 --> 00:26:58,760 Speaker 4: leap into investing for wealth. So investing for wealth if 622 00:26:58,760 --> 00:27:00,800 Speaker 4: you are a couple, if you don't know how to 623 00:27:00,840 --> 00:27:02,520 Speaker 4: do nothing else, like you know, so most people are like, 624 00:27:02,520 --> 00:27:05,000 Speaker 4: they're not really willing to do Like everybody wants to 625 00:27:05,040 --> 00:27:06,560 Speaker 4: like trade options. They don't even know what that is. 626 00:27:06,600 --> 00:27:08,280 Speaker 4: They want to, you know, everybody wants to buy stock. 627 00:27:08,280 --> 00:27:09,840 Speaker 4: Then you bought Delta. How's that working out for you? 628 00:27:09,960 --> 00:27:12,359 Speaker 2: Right now? How's Delta doing? It's doing terrible. 629 00:27:12,400 --> 00:27:15,600 Speaker 4: I can tell you because I have Delta, and so 630 00:27:15,920 --> 00:27:17,280 Speaker 4: most people want to do that. But truth is, most 631 00:27:17,320 --> 00:27:19,080 Speaker 4: people are not willing to do the work for investing. 632 00:27:19,119 --> 00:27:22,320 Speaker 4: That's okay, So this is what I tell people that instead, 633 00:27:22,880 --> 00:27:27,480 Speaker 4: you can invest in a mutual fund. I prefer target 634 00:27:27,560 --> 00:27:31,240 Speaker 4: date funds because it's like super super handholding a target 635 00:27:31,280 --> 00:27:35,560 Speaker 4: date fund is a mutual fund that you pick the 636 00:27:35,600 --> 00:27:37,679 Speaker 4: target date the date you want to pull out that money. 637 00:27:38,040 --> 00:27:41,760 Speaker 4: So typically most target date funds are the date that 638 00:27:41,760 --> 00:27:43,240 Speaker 4: you want to pull out that money. Typically is the 639 00:27:43,320 --> 00:27:45,760 Speaker 4: date that you want to retire, so you might say 640 00:27:45,800 --> 00:27:48,160 Speaker 4: twenty fifty, twenty forty five, twenty thirty five. 641 00:27:48,160 --> 00:27:49,320 Speaker 2: They're usually five years apart. 642 00:27:49,520 --> 00:27:51,560 Speaker 4: So you're going to pick a mutual fund that's a 643 00:27:51,600 --> 00:27:55,000 Speaker 4: target date fund, right, A mutual fund, just so you know, 644 00:27:55,240 --> 00:27:56,960 Speaker 4: for those listening, I'm sure you know, but you never know. 645 00:27:57,280 --> 00:27:59,960 Speaker 2: It's a collection of investment. 646 00:28:00,760 --> 00:28:03,080 Speaker 4: I like mutual funds that tend to be index funds, 647 00:28:03,080 --> 00:28:05,199 Speaker 4: so they follow a particular index, like the S and 648 00:28:05,200 --> 00:28:06,400 Speaker 4: P five hundred, which. 649 00:28:06,240 --> 00:28:07,520 Speaker 2: Is basically like the market. 650 00:28:07,840 --> 00:28:11,640 Speaker 4: So that means you're invested in a mutual fund that's 651 00:28:11,640 --> 00:28:13,480 Speaker 4: an index fund. 652 00:28:13,000 --> 00:28:15,959 Speaker 2: And it follows the market and your money. 653 00:28:16,240 --> 00:28:18,119 Speaker 4: The reason why I like target date funds is that 654 00:28:18,160 --> 00:28:21,239 Speaker 4: it rebalances like a true investor knows that they have 655 00:28:21,320 --> 00:28:25,160 Speaker 4: to shift based upon how life like where they are 656 00:28:25,160 --> 00:28:27,800 Speaker 4: in life. Most people don't do that, so a target 657 00:28:27,840 --> 00:28:29,440 Speaker 4: date fund does it for you. A target date fund 658 00:28:29,480 --> 00:28:32,080 Speaker 4: says you pick the target date of twenty fifty, it 659 00:28:32,119 --> 00:28:33,119 Speaker 4: is now twenty twenty. 660 00:28:33,200 --> 00:28:34,120 Speaker 2: We have thirty years. 661 00:28:34,119 --> 00:28:36,479 Speaker 4: We got time, so the target day fund is going 662 00:28:36,520 --> 00:28:39,960 Speaker 4: to be invested more aggressively because you have thirty years. 663 00:28:40,040 --> 00:28:43,600 Speaker 2: The closer you get to twenty fifty. 664 00:28:43,280 --> 00:28:46,880 Speaker 4: The more conservative automatically your investment is going to be 665 00:28:46,960 --> 00:28:50,320 Speaker 4: invested because the target date fund is aware of twenty 666 00:28:50,360 --> 00:28:53,200 Speaker 4: fifty is coming up. So the closer we get if 667 00:28:53,240 --> 00:28:55,560 Speaker 4: it's twenty forty nine, then you're super You might be 668 00:28:55,560 --> 00:29:01,400 Speaker 4: invested in all cash accounts, in bonds, super super conservative investments, right, 669 00:29:01,600 --> 00:29:02,720 Speaker 4: so you don't not do anything else. 670 00:29:03,200 --> 00:29:04,120 Speaker 2: You can buy a mutual. 671 00:29:03,960 --> 00:29:07,000 Speaker 4: Fund that that's that's that follows an index fund like 672 00:29:07,000 --> 00:29:08,360 Speaker 4: I said the S and P five hundred. 673 00:29:09,120 --> 00:29:11,120 Speaker 2: Typically you can you can follow you look for a 674 00:29:11,160 --> 00:29:11,800 Speaker 2: mutual fund. 675 00:29:11,840 --> 00:29:15,560 Speaker 4: That's that's called a total market fund, meaning that your 676 00:29:15,800 --> 00:29:18,800 Speaker 4: fund mimics a particular market like I said the S 677 00:29:18,840 --> 00:29:20,760 Speaker 4: and P five hunder one hundred. So when the when 678 00:29:20,760 --> 00:29:22,640 Speaker 4: the market goes up, your money goes up. When the 679 00:29:22,640 --> 00:29:24,840 Speaker 4: market goes down, your money goes down. But we like 680 00:29:24,840 --> 00:29:28,720 Speaker 4: we like I mentioned before, on average, the market yields 681 00:29:28,960 --> 00:29:32,000 Speaker 4: about seven to eight percent a year, so you will 682 00:29:32,360 --> 00:29:34,520 Speaker 4: you will over the over the next thirty years, you're 683 00:29:34,520 --> 00:29:37,400 Speaker 4: gonna see about a seven eight percent game, which is great, 684 00:29:37,480 --> 00:29:39,400 Speaker 4: you know, even like that's for people who are like 685 00:29:39,400 --> 00:29:39,960 Speaker 4: I don't want to do. 686 00:29:39,880 --> 00:29:42,000 Speaker 2: Nothing else like. And so when you're looking for a 687 00:29:43,160 --> 00:29:43,840 Speaker 2: target date. 688 00:29:43,720 --> 00:29:45,640 Speaker 4: Fund or mutual fund, you're looking for something called the 689 00:29:45,720 --> 00:29:49,760 Speaker 4: expense ratio, and that is the fee that that fund 690 00:29:49,840 --> 00:29:52,640 Speaker 4: is charging you the percentage of the money that you 691 00:29:52,640 --> 00:29:55,400 Speaker 4: have invested with that fund. And so right now, like 692 00:29:55,400 --> 00:29:57,480 Speaker 4: a Vanguard, they have one of the lowest expense ratio. 693 00:29:57,560 --> 00:30:02,040 Speaker 4: So the broker's accounts that have ne funds and target 694 00:30:02,120 --> 00:30:06,120 Speaker 4: date funds and these total market funds are like Vanguard, Fidality, 695 00:30:06,280 --> 00:30:10,320 Speaker 4: Child Schwab. So you're gonna google expense ratio for First Fidelity, 696 00:30:10,400 --> 00:30:12,600 Speaker 4: expense ratio for child Swab. I think like, right now, 697 00:30:13,040 --> 00:30:16,320 Speaker 4: it's like the target fund for a total market target 698 00:30:16,400 --> 00:30:19,600 Speaker 4: date fund for Vanguard. Right now it's like point zero 699 00:30:19,720 --> 00:30:22,640 Speaker 4: six percent, which is great, right, not even points zero 700 00:30:22,720 --> 00:30:25,680 Speaker 4: zero six percent, which is like something ridiculous, like a 701 00:30:25,720 --> 00:30:26,960 Speaker 4: piece of a piece of a piece of piece of 702 00:30:27,000 --> 00:30:31,040 Speaker 4: a penny. And so that's great because the average financial 703 00:30:31,080 --> 00:30:33,960 Speaker 4: advisor is going to charge you one percent of the 704 00:30:34,000 --> 00:30:35,880 Speaker 4: assets of your of your money that they've invested. 705 00:30:35,920 --> 00:30:37,680 Speaker 2: So the financial advisor is gonna charge you one percent. 706 00:30:37,880 --> 00:30:40,760 Speaker 4: Vanguard's going to charge you a piece of a piece 707 00:30:40,800 --> 00:30:42,120 Speaker 4: of a piece of one percent, so you get to 708 00:30:42,160 --> 00:30:43,000 Speaker 4: keep more of your money. 709 00:30:43,280 --> 00:30:47,719 Speaker 2: Fees are the biggest hindrance to earning money. 710 00:30:47,960 --> 00:30:52,600 Speaker 4: You know, I'm not anti financial advisor, but you're spending 711 00:30:52,680 --> 00:30:55,560 Speaker 4: a lot of money sometimes for them to do automatically 712 00:30:55,640 --> 00:30:57,720 Speaker 4: what some of these automatic funds can do. Unless you 713 00:30:57,720 --> 00:30:59,520 Speaker 4: have other things your financial advisor's doing for you. If 714 00:30:59,520 --> 00:31:02,239 Speaker 4: there's just an'sting your money, bruh sis, just put it 715 00:31:02,240 --> 00:31:05,120 Speaker 4: in a target day fund and let the fund automatically 716 00:31:05,400 --> 00:31:07,760 Speaker 4: balance for you and you can keep most of your money. 717 00:31:07,960 --> 00:31:10,240 Speaker 4: So if you're investing with your significant other, what I 718 00:31:10,240 --> 00:31:12,120 Speaker 4: love is that you can literally say, hey, Vanguard, we 719 00:31:12,200 --> 00:31:15,000 Speaker 4: want to open up a mutual fund. Would prefer a 720 00:31:15,000 --> 00:31:17,720 Speaker 4: target day fund that's invested in an index. So do 721 00:31:17,720 --> 00:31:19,880 Speaker 4: you have like I know, Vanguard literally has one called 722 00:31:20,000 --> 00:31:22,440 Speaker 4: your total market fund, or you have a total market fund, Okay, 723 00:31:22,480 --> 00:31:24,080 Speaker 4: open it up. We're going to be putting two hundred 724 00:31:24,120 --> 00:31:27,240 Speaker 4: dollars a month. Just you can have that transferred automatically 725 00:31:27,560 --> 00:31:28,520 Speaker 4: from your savings account. 726 00:31:28,600 --> 00:31:30,280 Speaker 2: Transfer your two hundred bucks a month. 727 00:31:30,120 --> 00:31:32,920 Speaker 4: Because you already have your three months of savings, transfer 728 00:31:32,920 --> 00:31:34,600 Speaker 4: your three hundred bucks a month or two hundred bucks 729 00:31:34,600 --> 00:31:36,320 Speaker 4: a month into that account and let it grow. 730 00:31:36,480 --> 00:31:38,040 Speaker 2: You kind of set it in and semi forget it. 731 00:31:38,280 --> 00:31:41,160 Speaker 2: So that's like the easiest possible way to start investing. 732 00:31:41,160 --> 00:31:43,400 Speaker 4: If you do that, you will be better off than 733 00:31:43,600 --> 00:31:45,240 Speaker 4: ninety nine or nine point most people. 734 00:31:45,880 --> 00:31:46,960 Speaker 2: And just keep it really simple. 735 00:31:46,960 --> 00:31:49,760 Speaker 4: I think investing should be really simple, unless, like you 736 00:31:49,800 --> 00:31:51,160 Speaker 4: really are interested. 737 00:31:50,760 --> 00:31:52,360 Speaker 2: In learning how to buy individual stocks. 738 00:31:52,520 --> 00:31:54,760 Speaker 4: But you have to when it comes to investing in 739 00:31:54,800 --> 00:31:57,719 Speaker 4: the traditional sense and like the market, keep it simple. 740 00:31:57,960 --> 00:32:00,040 Speaker 4: And then you can also invest by starting a business. 741 00:32:00,120 --> 00:32:02,680 Speaker 4: You can invest by writing a book. There's other ways 742 00:32:02,720 --> 00:32:05,200 Speaker 4: to invest. You can invest by real estate, like I 743 00:32:05,240 --> 00:32:07,920 Speaker 4: do all those things. I have residual investments where I 744 00:32:07,920 --> 00:32:10,080 Speaker 4: have books that pay me a few thousand dollars a 745 00:32:10,080 --> 00:32:12,240 Speaker 4: month from books I've written years ago. I have a 746 00:32:12,280 --> 00:32:14,840 Speaker 4: business that you know, that's an investment as well. I 747 00:32:14,880 --> 00:32:17,040 Speaker 4: put money into that business and it yields money back. 748 00:32:17,600 --> 00:32:19,960 Speaker 4: I also have real estate. You know, even in your 749 00:32:19,960 --> 00:32:22,040 Speaker 4: primary your primary residence, you have to think about that 750 00:32:22,040 --> 00:32:24,880 Speaker 4: as an investment, and you have to understand that The 751 00:32:24,960 --> 00:32:28,760 Speaker 4: key with investing is you should make money on the buy, 752 00:32:29,880 --> 00:32:31,160 Speaker 4: not necessarily to sell. 753 00:32:31,360 --> 00:32:34,480 Speaker 2: So meaning this is then if you always make sure 754 00:32:34,520 --> 00:32:36,720 Speaker 2: you make money on the buy, you never lose. 755 00:32:36,760 --> 00:32:39,920 Speaker 4: But it's time to sell. So bought this house I'm 756 00:32:39,920 --> 00:32:43,360 Speaker 4: living in now cash s life flex. But it was 757 00:32:43,400 --> 00:32:46,520 Speaker 4: a foreclosure so it was worth at the time maybe 758 00:32:47,000 --> 00:32:48,960 Speaker 4: three twenty because it was kind of like a little 759 00:32:48,960 --> 00:32:50,640 Speaker 4: bit beat up, and. 760 00:32:50,480 --> 00:32:51,800 Speaker 2: We bought it for one eighty. 761 00:32:52,320 --> 00:32:55,360 Speaker 4: So we made money on a buy even if nothing 762 00:32:55,360 --> 00:32:56,400 Speaker 4: else we didn't fix it up. 763 00:32:56,400 --> 00:32:58,160 Speaker 2: We're like, yo, we tired, we ran out of money 764 00:32:58,200 --> 00:32:59,800 Speaker 2: to fix it up. We bought it for one eighty. 765 00:33:00,040 --> 00:33:02,520 Speaker 4: House that's worth three twenty, So we made money on 766 00:33:02,560 --> 00:33:04,440 Speaker 4: the buy, no matter what. So even now they're talking 767 00:33:04,480 --> 00:33:05,200 Speaker 4: about the market. 768 00:33:05,040 --> 00:33:06,760 Speaker 2: It's gonna drop, I'm not worried about it. 769 00:33:06,720 --> 00:33:08,320 Speaker 4: It would have to drop a whole hell of a 770 00:33:08,360 --> 00:33:10,920 Speaker 4: lot for a house worth three twenty to drop down 771 00:33:10,920 --> 00:33:12,480 Speaker 4: to one eighty, you know. 772 00:33:14,360 --> 00:33:17,520 Speaker 2: Exactly. So we so then we then we renovated the place. 773 00:33:17,560 --> 00:33:19,080 Speaker 2: So now I just got the house of praise. 774 00:33:19,360 --> 00:33:22,160 Speaker 4: We renovated it. The house is now worth three ninety. 775 00:33:22,600 --> 00:33:24,680 Speaker 4: So it's like even if we never renovated, we was 776 00:33:24,720 --> 00:33:27,160 Speaker 4: gonna win. So same thing with stocks, you know that 777 00:33:27,320 --> 00:33:31,080 Speaker 4: like you make money on the buy, you know, not necessarily, 778 00:33:31,120 --> 00:33:32,760 Speaker 4: like you don't want to have to wait for the cell. 779 00:33:32,800 --> 00:33:33,720 Speaker 2: But not enough people do that. 780 00:33:33,720 --> 00:33:35,959 Speaker 4: They want to jump into the market right now because 781 00:33:36,000 --> 00:33:38,600 Speaker 4: you know your your neighbor's like, oh I bought. 782 00:33:39,440 --> 00:33:41,440 Speaker 2: Oh you're not in, but yond me? Uh oh you 783 00:33:41,480 --> 00:33:43,600 Speaker 2: don't do bitcoin. Meanwhile, you don't know nothing. Know what 784 00:33:43,640 --> 00:33:44,520 Speaker 2: they're talking about. 785 00:33:44,760 --> 00:33:46,680 Speaker 4: Don't jump in and lose your money. Like, if you're 786 00:33:46,680 --> 00:33:48,360 Speaker 4: not going to do the research, you're gonna be broke. 787 00:33:48,960 --> 00:33:51,480 Speaker 4: Get you an index fund, you know, invest in things 788 00:33:51,480 --> 00:33:53,719 Speaker 4: that you're willing to do the research on, or invest 789 00:33:53,760 --> 00:33:57,080 Speaker 4: in semi automated super simple investments, and you'll be fine. 790 00:33:57,080 --> 00:33:59,480 Speaker 4: You don't have to have your investment should honestly largely 791 00:33:59,520 --> 00:34:01,640 Speaker 4: be boring. You don't have to have the hottest stock. 792 00:34:03,440 --> 00:34:03,600 Speaker 2: Hi. 793 00:34:03,840 --> 00:34:06,600 Speaker 8: I'm Sherry Harris, owner of Life Source Water. As a 794 00:34:06,640 --> 00:34:09,800 Speaker 8: new grandmother in lifelong Californian, I care about what's in 795 00:34:09,840 --> 00:34:13,320 Speaker 8: the water my family uses every day. For over forty years, 796 00:34:13,400 --> 00:34:16,719 Speaker 8: our whole house water system has protected Bay Area families 797 00:34:16,719 --> 00:34:19,720 Speaker 8: with filtered water from every tap. Now we are offering 798 00:34:19,800 --> 00:34:23,359 Speaker 8: a double dip in savings free basic installation plus an 799 00:34:23,400 --> 00:34:25,200 Speaker 8: extra two hundred and fifty dollars off. 800 00:34:25,360 --> 00:34:26,640 Speaker 2: That's up to twelve. 801 00:34:26,360 --> 00:34:29,040 Speaker 8: Hundred dollars in savings. Call our factory at one eight 802 00:34:29,120 --> 00:34:32,120 Speaker 8: hundred Water nine nine or visit life sourcewater dot com 803 00:34:32,200 --> 00:34:34,880 Speaker 8: hurry offer in September thirty. Warranty limitations apply