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Speaker 1: Yo, this is real talk. I am not afraid of

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Speaker 1: what's happening in the pandemic financially because this is not

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Speaker 1: my first financial crisis and I've been broken before, so

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Speaker 1: we have definitely been collectively broken. Yes, And you know what,

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Speaker 1: if I had to be broke with anybody, I want

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Speaker 1: to be broke with you. You're saying that because you've

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Speaker 1: already been broke with me. Dead As Baby. Hey, I'm

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Speaker 1: Cadine and we're the ellis Is. You may know us

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Speaker 1: for posting funny videos without boys and reading each other

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Speaker 1: publicly as a form of we are making me derby

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Speaker 1: most days. And one more important thing to mention, we're married. Yes,

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Speaker 1: so we are. We created this podcast to open dialogue

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Speaker 1: about some of life's most taboo topics, things most folks

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Speaker 1: don't want to talk about through the lens of a

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Speaker 1: millennial married couple. Dead ass is a term that we

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Speaker 1: say every day. So when we say that ass, we're

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Speaker 1: actually seeing fast the truth, the whole truth, and nothing

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Speaker 1: but the truth. We're about to take pillow talk to

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Speaker 1: our whole new level. Dead As starts right now. Okay,

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Speaker 1: so this story time takes place about two times decades apart,

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Speaker 1: two thousand nine. I told this story before two nine,

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Speaker 1: come back from the NFL. Lose a lot of money

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Speaker 1: during the economic crisis, during the recession boom, Me and

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Speaker 1: Cane moved back to our apartment and we have no

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Speaker 1: money none. I get cut by the NFL codein is

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Speaker 1: not working. We lose a lot of money in the

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Speaker 1: stock market and in doing all the right things, doing

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Speaker 1: all the right things, just so you know exactly buying change,

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Speaker 1: buying car you did. So I just want to start

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Speaker 1: there so people know that that's where coming from. Fast forward,

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Speaker 1: the pandemic starts to happen in in March, they started

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Speaker 1: to shut down, and the first thing going through my

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Speaker 1: mind is how can I pivot? So immediately I'm thinking

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Speaker 1: about the fact that I probably won't be filming, we

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Speaker 1: won't be able to do any events, we won't be

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Speaker 1: able to do the Dead Ass podcast, because that was,

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Speaker 1: you know, gonna gonna be huge for us, and it

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Speaker 1: was what is the most important thing right now? Digital marketing,

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Speaker 1: digital content. So you know what I did. I decided

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Speaker 1: to sit down and create more content, put all my

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Speaker 1: finances into a secure place, speaking my financial advisors, and

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Speaker 1: focused on how to recreate myself, and ultimately that's what

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Speaker 1: I did for the next three months, recreated who we

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Speaker 1: were in the digital space. You know, when we talk

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Speaker 1: about finances, money, Dallas, coin, to have the bag, whatever

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Speaker 1: you I want to talk about securing automatically, Automatically, I

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Speaker 1: started to think my girl and her song. I was

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Speaker 1: born to flex diamonds on my neck. I like bored

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Speaker 1: and just I like more than sex, but nothing in

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Speaker 1: this world I like more than checks. Money I really

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Speaker 1: want to see. It's a I don't really need to

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Speaker 1: d I need the A. I got bands in the coop,

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Speaker 1: but in out the roof, I got touch me. I'll

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Speaker 1: shoot or maybe I won't. But you know, hey, let

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Speaker 1: me tell you something. You do get super excited about

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Speaker 1: spending money. Hey, I get excited about making it too,

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Speaker 1: though equally so you can spend. Yeah, I get more

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Speaker 1: excited about making it. I don't really care that much

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Speaker 1: about spending. You know, a lot has happened to talk

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Speaker 1: about the shift, though, Talk about the shift, because you know,

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Speaker 1: we had the moment in time, like you said in Storytime,

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Speaker 1: back in two thousand nine, where you know, we were

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Speaker 1: living a pretty decent life. You were in the NFL,

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Speaker 1: you know, we made the right investments with money, we

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Speaker 1: were doing our thing, um, and then lost all of

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Speaker 1: that in doing the right thing, So we went back

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Speaker 1: to rock bottom. And then there was a greater respect

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Speaker 1: that I'd gained as well for having to rebuild. And

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Speaker 1: then through rebuilding, now I got a little Scrooge McDuck

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Speaker 1: in me, I do, I will say, got a little

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Speaker 1: Scrooge McDuck in me. Um. You know you and I

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Speaker 1: think two more are more or more apt to help

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Speaker 1: others as well too. So it's like, you know, and

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Speaker 1: I feel like that's why we continue to be blessed,

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Speaker 1: because we were able to create a space and a

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Speaker 1: platform where we can now employ you know, people who

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Speaker 1: were friends, but also professionals, families who are professionals with

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Speaker 1: their respective fields, you know. So I feel like that's

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Speaker 1: why we continue to be blessed. Look, I've said it

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Speaker 1: on this platform with that, and I've said it to

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Speaker 1: you that I want to be super rich and famous

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Speaker 1: so that I could help provide opportunities for other people.

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Speaker 1: Like that is my goal. I want to be super

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Speaker 1: duper rich and famous for that soul purpose, Like I

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Speaker 1: want to be able to create jobs, create industries, move markets.

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Speaker 1: I really want to be able to do that, and

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Speaker 1: I want to do that for my people. I want

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Speaker 1: to do that for the people who look like me,

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Speaker 1: are the people who've gone through the struggle that we've

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Speaker 1: gone through. I want to do that. So I am

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Speaker 1: right there with you. I'm right there with you. I mean,

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Speaker 1: if there's one thing the pandemic taught us, and it's

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Speaker 1: that if you stay ready, you don't got to get ready,

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Speaker 1: you know what I mean. Well, however, we were not

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Speaker 1: prepared for something of this magnitude, Like, let's be real,

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Speaker 1: who really thought that the entire country, world for that matter,

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Speaker 1: was going to shut down to the extent that it did. Well,

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Speaker 1: you know, we weren't. I wasn't prepared for a pandemic,

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Speaker 1: But after going through everything I went through in two

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Speaker 1: thousand nine, I was super prepared for trying to maintain

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Speaker 1: my finances and try to pivot. Like to me, the

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Speaker 1: pivot was the easiest part because muscle memory for you,

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Speaker 1: and it was also it was also just thinking ahead,

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Speaker 1: like on to be ahead of the curve, like you

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Speaker 1: start to say I can't do this forever. You know,

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Speaker 1: we've been saying that. What's in the past three years.

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Speaker 1: Do you mean in terms of our content for example,

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Speaker 1: vogging and all that, right, just with with everything, I mean,

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Speaker 1: even even with the podcast, because we didn't know if

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Speaker 1: we were gonna be able to record. We know we're

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Speaker 1: gonna be able to go back into the studio, So

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Speaker 1: I'm like, I may not be able to create content forever.

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Speaker 1: What else can I do to generate revenue to provide

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Speaker 1: for my family? And I've been thinking about that for

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Speaker 1: the past year. So when the pandemic hit, it was

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Speaker 1: almost like, well, I've been thinking about different things, so

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Speaker 1: we're kind of forcing to move, you know what I'm saying,

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Speaker 1: Look at different industries. How can I make money? How

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Speaker 1: can I do different investments? You know, what can I

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Speaker 1: do to create some revenue and diversify? So that was

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Speaker 1: that you would say it was the main difference for

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Speaker 1: you with two thou absolutely because in two thousand nine,

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Speaker 1: I was playing football thinking that, well, I'm going to

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Speaker 1: play until I don't want to play no more. You

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Speaker 1: never think that it's going to end before you're ready

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Speaker 1: for it to end, you know. So even though I

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Speaker 1: was I was tired of playing football, I wasn't ready

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Speaker 1: to be done playing at that moment, I still want

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Speaker 1: to make a little bit more money and secure myself financially.

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Speaker 1: But then it came to an abrupt end. And at

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Speaker 1: that time I had no clue where I was. I

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Speaker 1: was lost, I was depressed, I was mad um, I

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Speaker 1: was angry. I blamed everybody. I blamed you, I blame

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Speaker 1: my agent, I blamed the teams, I blamed the NFL,

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Speaker 1: I blamed my parents, you know, because I couldn't wrap

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Speaker 1: my mind around the fact that I couldn't do what

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Speaker 1: I wanted to do. You know. So when this happened,

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Speaker 1: and the first thing that was going through my mind

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Speaker 1: is like, shoot, you know, we can't do the podcast.

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Speaker 1: We can't I can't film, I'm like, man, those are

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Speaker 1: the biggest ways that we make money. And then I'm like, well,

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Speaker 1: brand partnerships. I thought about different events that I was

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Speaker 1: going to are supposed to be going to to speak

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Speaker 1: or to attend, and it was just like like He's

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Speaker 1: like you literally watch it. Think about the money that

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Speaker 1: you have coming because you're planning for that, which is

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Speaker 1: why my mom has my dad actually has always said

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Speaker 1: to me, don't spend your money before you get it,

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Speaker 1: absolutely because something may fall through and then you don't

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Speaker 1: have that bag that you thought you secured, and it's

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Speaker 1: a whole fumble on the plane. And what in March?

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Speaker 1: Do you remember? March we made fifteen percent of what

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Speaker 1: our monthly salary usually is. And in March we were

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Speaker 1: I was preparing to go back to film sisters, and

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Speaker 1: we didn't know when that was gonna happen. So we

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Speaker 1: were preparing our year based on our first two our

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Speaker 1: first two months January February before. So then that that

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Speaker 1: number goes down to and it's like, how long is

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Speaker 1: this gonna last? If anything, that incremental increase should have

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Speaker 1: been absolutely making of your month, you know what I mean?

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Speaker 1: That hurt. But because of where I was before, I

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Speaker 1: always put money aside. And this is just a tip

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Speaker 1: I'm going to give you guys when you're making money.

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Speaker 1: I was putting money aside so that we could survive

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Speaker 1: two years without either one of us working, so that

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Speaker 1: if worst case scenario, something happened and we could not

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Speaker 1: work for two years, we can at least pay our mortgage,

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Speaker 1: pay our rent, pay our car notes, whatever those monthly

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Speaker 1: expenses are covered. Put that in a separate account. So

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Speaker 1: I just knew and what I'm doing now continuously is

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Speaker 1: I'm adding to that account. Right, So now I'll say, okay,

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Speaker 1: we can exist two years. Oh, we're making more money.

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Speaker 1: Let's add three years, let's add four years. Okay, we

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Speaker 1: could exist five years without doing anything because we have

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Speaker 1: money and savings. You know, we would have to live modestly,

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Speaker 1: you know. But the thing is, we could still live

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Speaker 1: the way we were so after the emergency fund became

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Speaker 1: like in case of emergency fund was actually an emergency.

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Speaker 1: So many people experience job loss and financial stress following

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Speaker 1: the coronavirus outbreak, and how can we better prepare ourselves

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Speaker 1: financially in anticipation for another global crisis. Since mid March,

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Speaker 1: the coronavirus pandemic has taken a toll on life as

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Speaker 1: we know it, and the world has not only been

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Speaker 1: impacted physically by the effects of the virus, but because

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Speaker 1: of mandates that we quarantine at home, the economic impact

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Speaker 1: has been devastating. Millions of Americans have suffered a loss

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Speaker 1: of income and employment over the better part of the

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Speaker 1: year with no end in sight, and in August, about

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Speaker 1: three point three million people aged and over with bachelor's

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Speaker 1: degrees or higher were unemployed. Up one point two million

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Speaker 1: since February and that's according to the Bureau of Labor Statistics.

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Speaker 1: So you know, we need all the help right now.

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Speaker 1: We need all the help we need to figure out

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Speaker 1: what are some ways that we can strategically put ourselves

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Speaker 1: into a position financially to kind of overcome this and

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Speaker 1: get our footing underneath us again. So joining us again

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Speaker 1: on dead as podcasts, We're always let me tell you,

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Speaker 1: she is just a regular with us, Tiffany elite. The

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Speaker 1: budget needs to as we know her best is back

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Speaker 1: to help us make sense of this financial impact of

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Speaker 1: COVID nineteen, the pandemic, and what we can do to

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Speaker 1: combat those effects. Tiffany, what's up, sack? Let me tell

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Speaker 1: you anytime, I'll be talking about that money on the

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Speaker 1: money because she knows what to do. Okay, girls, Since

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Speaker 1: the last time we spoke, I've been good though. I mean,

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Speaker 1: I'm lucky, blessed, highly favorite. Everyone is healthy, so that's

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Speaker 1: what matters most. I've been good. What about y'all? We've

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Speaker 1: been good. We've been good, just you know, like everyone's

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Speaker 1: doing not trying to find ways to pivot and plan accordingly.

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Speaker 1: You know, Kadina and I talk all the time, and

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Speaker 1: I said, you know, the biggest empires are built during

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Speaker 1: times of catastrophe, So right now was a catastrophe. So

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Speaker 1: whoever put, whoever is prepared, will probably come out on

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Speaker 1: top of this. So I want to take this time

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Speaker 1: and use our platform to help as many listeners as possible.

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Speaker 1: Plan there they're come up. So you're the best person

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Speaker 1: to talk to, especially as an entrepreneur. Um. Right now,

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Speaker 1: the entrepreneurial spirit is probably the greatest spirit in America

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Speaker 1: because so many people have lost traditional jobs, those who

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Speaker 1: are able to make additional funds, the entrepreneurs are the

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Speaker 1: ones who are able to capitalize. So Tiffany, depending on

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Speaker 1: the field, to the people and tell us what we

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Speaker 1: need to be doing. Well, that's I'm sure a load

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Speaker 1: of question for you, Tiffany. Um. I mean you can

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Speaker 1: unpack that. However, you'd like telling us where I'll to start. Well,

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Speaker 1: I'll say this that I actually built the budget needs

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Speaker 1: to which is now eight figures a year. Woo woo um.

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Speaker 1: During the pandemic we had our first seven figure months,

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Speaker 1: a second seven figure seven big months, so now we're

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Speaker 1: eight figures. So but I built the budget needs to

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Speaker 1: during the last recession two thousand eight, two thousand nine.

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Speaker 1: So so to your points that it's times like this

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Speaker 1: are when most millionaires are made, quite honestly, And the

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Speaker 1: thing is, what you're seeing is something that could have

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Speaker 1: been anticipated, not the pandemic, not Corona, but the recession, right,

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Speaker 1: Because so first things first is if I had to say,

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Speaker 1: you know, what I would have told I'm gonna share

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Speaker 1: what I wish I would have told what I was

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Speaker 1: a preschool teacher back then, what I would have told

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Speaker 1: preschool teacher tiffany back then. Right, So first things first

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Speaker 1: is to understand every ten to fifteen years in the

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Speaker 1: US of A we have as so, meaning that so

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Speaker 1: you're feeling this now you're like, oh my goodness, it's

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Speaker 1: such unique times. The pandemic, yes, or a session, No,

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Speaker 1: we will be back here. But how will it meet you? Yes,

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Speaker 1: you know, how will it meet you? And I mean

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Speaker 1: it makes because two thousand nine was when the economic

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Speaker 1: crisis hit, when Obama became president, and that's when Kadine

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Speaker 1: and I were going and I remember feeling at that

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Speaker 1: time like this is the worst thing that ever happened.

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Speaker 1: I'm no, I'm not making any money. And then when

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Speaker 1: hit in the recession. Just like I was prepared. I

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Speaker 1: was like, Okay, I've been here before, It's time to

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Speaker 1: utilize that capital differently. Um So one first thing to

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Speaker 1: first I would have told Tiffany back then is that girl,

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Speaker 1: where is your savings? Right? So when you do get

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Speaker 1: on your because you will not always be in this position,

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Speaker 1: I need people to set aside, ideally six months of

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Speaker 1: what I call your noodle budget. Like that is if

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Speaker 1: you if I had to eat Ramen noodles budget, well,

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Speaker 1: you know sometimes you got I love that, right, So

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Speaker 1: that's just your your bare bones essential budget. So let's

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Speaker 1: just say your regular budget includes the nails, hair, movies, um, Netflix,

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Speaker 1: all that stuff. Your noodle budget just pays for the

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Speaker 1: necessary expenses. Because if you were to lose your job,

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Speaker 1: you should pivot to your noodle budget right away. It's

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Speaker 1: a temporary, low cost life. That's what your noodle budget is.

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Speaker 1: So you want to have six months of that set aside,

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Speaker 1: because imagine if you would have had six months of

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Speaker 1: your noodle budget set aside and you lost your job,

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Speaker 1: say during from March April April, So then you would

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Speaker 1: have had April, May, June, July, August, September, you would

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Speaker 1: have just now been running out of money. You would

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Speaker 1: have had some time to pivot and fig something out,

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Speaker 1: you know. So that's first things first. Um, second thing,

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Speaker 1: during times like this, I tell people that not to

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Speaker 1: go overboard with paying off so much debt if you

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Speaker 1: don't have your savings, or if you think your job

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Speaker 1: is like in limbo. Right, if I was a doctor

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Speaker 1: or a nurse right now, I'm not worried, right, but

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Speaker 1: if I was, um, you know, I work for a

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Speaker 1: restaurant and maybe we just open back up again, but

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Speaker 1: you never, you just don't know what it's gonna go,

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Speaker 1: you know. Or I work for uh my sisters and engineers.

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Speaker 1: She worked for a party planning um, like they do

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Speaker 1: these like um these big events company where she, as

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Speaker 1: an engineer has to figure out like the configuration of

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Speaker 1: like the things that they would build for people's partners. Right,

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Speaker 1: so you know, she's like, it's likely not gonna happen

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Speaker 1: that I'm going back, you know, So you know, knowing

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Speaker 1: that that's happening, I don't want people to go over

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Speaker 1: board with paying off debt because you need to keep

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Speaker 1: that money close to you, because you're gonna need to

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Speaker 1: pay for food, clothing. You know where you live, you're

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Speaker 1: gonna need to pay for your your noodle budget expenses

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Speaker 1: and third of what I would tell people. And I

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Speaker 1: wish I knew this because I had. I bought a

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Speaker 1: condo when I was twenty five. I thought I was

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Speaker 1: grown grown. I was like, oh yeah, right, my little

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Speaker 1: too better one one bad condo. And and then but

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Speaker 1: then when I was twenty nine, my school closed its

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Speaker 1: doors during the recession. It was a nonprofit BA school.

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Speaker 1: They didn't have any funding. And I continue to pay

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Speaker 1: the mortgage. I mean I used all my savings to

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Speaker 1: pay the mortgage. I withdrew all the money for my

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Speaker 1: retirement account mortgage because I was like, oh no, I've

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Speaker 1: been to pay this right, yes, And guess what happened.

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Speaker 1: I lost the house anyway, So now they got my

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Speaker 1: retirement money, they got my saving they have everything. I

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Speaker 1: have no house and no money. And I wish I

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Speaker 1: would have told Tiffany then like that that you are

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Speaker 1: more important than your dead that instead, if you don't

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Speaker 1: think a hundred percent you could you could save this house.

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Speaker 1: If you don't think a hundred percent that this house

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Speaker 1: you'll be able to maintain and keep it, then keep

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Speaker 1: your money, says, because yes, and I couldn't let it

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Speaker 1: go and have my tirement money. Let it go and

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Speaker 1: maintain my savings. I put all my bills above my

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Speaker 1: best interest. That the same thing. I think that's important

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Speaker 1: to talk about because we have been so conditioned to

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Speaker 1: like not let things go. So for example, I remember

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Speaker 1: when my boy Bellowed when he was, you know, don't

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Speaker 1: do a little bit of economic issue, and he was

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Speaker 1: working hard, but he had a condom. He brought his

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Speaker 1: first condo with twenty three same thing in Connecticut, and

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Speaker 1: he had told me during the economic cris he said,

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Speaker 1: but I'm about to let this condo go. And I

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Speaker 1: remember saying, what you can't credit? He said, my credit

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Speaker 1: is gonna get fixed, but I can't just give them

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Speaker 1: all my cash. And and and probably into a couple of

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Speaker 1: years later and when he told me that, and once

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Speaker 1: again he's in he's you know, he works for black Rock,

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Speaker 1: he's in finances, so he understands the importance of debt

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Speaker 1: to cash flow. And I never understood that. And I

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Speaker 1: wanted to ask you, how does someone decide what's the

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Speaker 1: important amount of debt and cash flow to maintain you know,

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Speaker 1: is it how much they make per month? You know,

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Speaker 1: like what is how was this someone decide what number

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Speaker 1: makes sense for them. One you have to you have

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Speaker 1: to decide whether you have regular cash flow. Right, So

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Speaker 1: this is a job that's going to continue to pay me.

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Speaker 1: I'm pretty certain the money is not going anywhere because

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Speaker 1: that if I was a doctor or nurse right now,

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Speaker 1: I would be pretty certain it would have to something

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Speaker 1: crazy would have to happen for me to lose my job. Right, So,

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Speaker 1: knowing like, okay, my cash flow, let's just say five

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Speaker 1: thousand dollars a month is pretty secure. Ok So your

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Speaker 1: your debt that leaves out of the house, right, So

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Speaker 1: that's your your debt to income ratio. This is actually

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Speaker 1: what mortgage people look at. They look to see how

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Speaker 1: much your monthly income is versus how much your monthly

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Speaker 1: debt payments right right, And so they don't want more

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Speaker 1: than they don't want more than. I think it's like

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Speaker 1: at of your of your income to be leaving before

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Speaker 1: your mortgage because they also like between forty two because

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Speaker 1: they also know that your house is gonna cost you

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Speaker 1: about you know, so they're like, okay, if we use

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Speaker 1: up thirty and you're already using at that leads you

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Speaker 1: thirty for the rest. That leaves you an additional twenty

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Speaker 1: to thirty for the rest of your life. Is that reasonable?

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Speaker 1: You know? And so ideally the lower obviously the lower

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Speaker 1: your debt, the better. That's what I tell people, like

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Speaker 1: save your debt for things like a mortgage, for things

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Speaker 1: like you know, like maybe you have to pay off

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Speaker 1: you know, I don't know, you have some sort of

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Speaker 1: health thing that you have to pay for. Save your

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Speaker 1: debt for you know, I don't even like really people

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Speaker 1: paying getting financing a car. But sometimes you just can't

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Speaker 1: help it. You gotta get to work. Like when you

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Speaker 1: have a a lamp bill, you got a side table bill,

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Speaker 1: couch bill, that's when you swipe your car, So now

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Speaker 1: you have all this things that could wait. You know,

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Speaker 1: that's really the issue. Most people's debt is not because

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Speaker 1: of this. It's like they're big bills. It's like, oh

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Speaker 1: my laptop. Oh you know, I had to get that

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Speaker 1: side table but the easiest came out, like you got

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Speaker 1: an easy bill, but of life, and so before you

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Speaker 1: know it, all the money that comes in is dedicated

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Speaker 1: to someone else. So you want to be mindful of

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Speaker 1: that flow, like how much money do I have coming

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Speaker 1: in versus how much money am I actually keeping? That's

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Speaker 1: actually what they call your savings rate. How what percentage

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Speaker 1: of your money are you keeping? That's what's critically important.

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Speaker 1: Like I would never tell Oprah you can't get easy,

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Speaker 1: because I'm certain that the amount of money that she

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Speaker 1: has coming in versus what she has coming out, you know,

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Speaker 1: is there's a huge significant difference. High school teacher Tiffany.

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Speaker 1: I think I was making like I want to say,

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Speaker 1: twenty maybe like take home pay, maybe like three thousand

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Speaker 1: dollars a month, maybe twenty six to three thousand dollars

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Speaker 1: a month, And so I had to be mindful, like, Okay, well,

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Speaker 1: how much what is gonna be my saving drape? Ideally

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Speaker 1: I wanted thirty percent of my money to stay with

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Speaker 1: me for investing and retirement and then ten percent for

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Speaker 1: for savings. So how do I live under that seventy

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Speaker 1: If you did that first, if you paid yourself first

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Speaker 1: in that way, if you said, okay, it's actually for

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Speaker 1: you y'all who are really young, you're just stepping out

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Speaker 1: getting your first job. If you this is what I

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Speaker 1: do with mine, my bonus baby, um, she's thirteen and

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Speaker 1: she don't even know. She just got his little side job.

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Speaker 1: She's babysitting and stuff. I think it's not some of

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Speaker 1: that money. I'm like, that's cute, thirty percent of it.

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Speaker 1: Put it up because I want to teach her that

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Speaker 1: you pay you are more important than any of your bills.

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Speaker 1: Put up your thirty percent first, and then you figure

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Speaker 1: out your life with that seventy percent. You remember my

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Speaker 1: dad did me because you don't know nothing about that life.

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Speaker 1: But right, see, but you see she living way nice

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Speaker 1: to that. I was like, that's how we get Organs.

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Speaker 1: I'm like, oh, you've got three. I just got Jorgess

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Speaker 1: as a grown person all right over here too. I

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Speaker 1: was just like, wait a second, I'm all of a

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Speaker 1: sudden the sneak ahead now, and I mean I think

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Speaker 1: about sneakers. I can actually afford sneakers. Now. You got

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Speaker 1: Jordans because you you didn't get George because your parents

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Speaker 1: are from the West Indies, And well, I got to

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Speaker 1: do it. Anything that you were spoiled in other ways

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Speaker 1: not having order, so I was spoiling. This wasn't stylish, yes,

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Speaker 1: exactly didn't know, but that I was like, what was Jordan.

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Speaker 1: Who's Michael Jordan? Michael, I'm like, but we didn't have

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Speaker 1: like tennis lessons and stuff, right, right, But so this

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Speaker 1: is what I tell. This is not just what I

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Speaker 1: tell like my my, my mentees, but also even grown folks.

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Speaker 1: I was that I was listening to this podcast interview

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Speaker 1: with um what's his face Dame dash right, and he

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Speaker 1: said something that was so profound. I'm like, Yo, if

428
00:22:29,440 --> 00:22:31,840
Speaker 1: I got a tattoo, it would be that. It's that

429
00:22:31,920 --> 00:22:36,200
Speaker 1: the purpose of working is to own, so that way

430
00:22:36,240 --> 00:22:39,320
Speaker 1: the things that you own will eventually put you out

431
00:22:39,359 --> 00:22:47,840
Speaker 1: of work. That's what Yes, your money work for you

432
00:22:49,240 --> 00:22:52,359
Speaker 1: every night. I love that because here's what happened. What

433
00:22:52,400 --> 00:22:54,640
Speaker 1: most people do. They work, they pay bills, they work,

434
00:22:54,680 --> 00:22:56,720
Speaker 1: they get a haircut, they work, they go out, they work,

435
00:22:56,760 --> 00:22:58,560
Speaker 1: they have fun, they work, they work, they work. But

436
00:22:58,600 --> 00:23:01,880
Speaker 1: there's no end to that, Psychele, you're just working. You don't, Yes,

437
00:23:01,960 --> 00:23:05,920
Speaker 1: if you're not intentional with I am working to own assets.

438
00:23:05,960 --> 00:23:09,000
Speaker 1: Assets put money into your pocket. So assets are cash, assets,

439
00:23:09,040 --> 00:23:12,200
Speaker 1: our home, assets are real estate. Assets are like maybe

440
00:23:12,320 --> 00:23:15,439
Speaker 1: art even jewelry can be assets. Right, So things that

441
00:23:15,600 --> 00:23:20,600
Speaker 1: assets our business, so appreciation purchase exactly so that way,

442
00:23:20,640 --> 00:23:23,840
Speaker 1: one day, that real estate properly that you bought that business,

443
00:23:23,840 --> 00:23:26,680
Speaker 1: that you have, that cash, that you can live off

444
00:23:26,720 --> 00:23:29,800
Speaker 1: of the assets that you that you now that asset

445
00:23:29,920 --> 00:23:31,959
Speaker 1: is put to work and you can sit down. But

446
00:23:32,040 --> 00:23:34,480
Speaker 1: most people work to work, they don't work to own.

447
00:23:34,520 --> 00:23:36,240
Speaker 1: And if they thought about that from the very beginning,

448
00:23:36,280 --> 00:23:37,960
Speaker 1: they'd be in a better spot. See. But this this

449
00:23:38,040 --> 00:23:41,879
Speaker 1: is where people get Dame confused, because Dame talks down

450
00:23:42,040 --> 00:23:43,959
Speaker 1: on people who are you. You have a boss, You

451
00:23:43,960 --> 00:23:46,400
Speaker 1: have a boss. I never had a boss, he said.

452
00:23:46,359 --> 00:23:47,960
Speaker 1: And then I remember he got to argument with dj

453
00:23:48,119 --> 00:23:49,719
Speaker 1: m V and DJV was like, Okay, you never had

454
00:23:49,720 --> 00:23:52,360
Speaker 1: a boss, but you sold drugs. You work for somebody,

455
00:23:52,800 --> 00:23:55,680
Speaker 1: And he was like, no, I got my drugs on consignment. Okay, dude,

456
00:23:56,040 --> 00:24:00,720
Speaker 1: it doesn't matter whether you technically there was someone above

457
00:24:00,760 --> 00:24:04,120
Speaker 1: you who allowed you to generate cash flow. And where

458
00:24:04,119 --> 00:24:07,920
Speaker 1: I really rock with Dame is where I agree with him.

459
00:24:08,000 --> 00:24:11,320
Speaker 1: You really only work to create cash flow so that

460
00:24:11,440 --> 00:24:15,080
Speaker 1: you can own something that creates cash flow for you.

461
00:24:15,800 --> 00:24:17,760
Speaker 1: That is that is the goal. And I think that's

462
00:24:17,760 --> 00:24:19,600
Speaker 1: what people need to understand, and I think that's what

463
00:24:19,760 --> 00:24:22,840
Speaker 1: black people need to understand. Even my mom's generation, my

464
00:24:22,920 --> 00:24:26,960
Speaker 1: dad generation, your parents. Having a good job was the

465
00:24:26,960 --> 00:24:30,240
Speaker 1: American dreams. I got a good job, I can retire

466
00:24:30,440 --> 00:24:33,560
Speaker 1: six five, I got my pension clock, my hours. That

467
00:24:33,960 --> 00:24:36,879
Speaker 1: was never the American dream. The American dream is ownership,

468
00:24:37,160 --> 00:24:40,359
Speaker 1: which we didn't have access to readily available, you know

469
00:24:40,359 --> 00:24:43,560
Speaker 1: what I mean, Like, you're not gonna understand that, Oh

470
00:24:43,560 --> 00:24:45,520
Speaker 1: you're a doctor, you're a lawyer. That my dad. That's

471
00:24:45,520 --> 00:24:48,359
Speaker 1: all they want to do. Lawyer, pharmacist, engineer, that's you

472
00:24:48,480 --> 00:24:51,960
Speaker 1: good to go. But if like now they're like, my

473
00:24:52,200 --> 00:25:00,920
Speaker 1: tiffness off your house month. But and now the espreneurs

474
00:25:00,920 --> 00:25:03,080
Speaker 1: two a minute ago, it was she ain't got no job. Girl.

475
00:25:03,920 --> 00:25:05,960
Speaker 1: Let me tell you your father and my father should

476
00:25:06,000 --> 00:25:08,800
Speaker 1: meet and have a drink because they are the same person.

477
00:25:08,840 --> 00:25:10,679
Speaker 1: And I still to this day. It wasn't until the

478
00:25:10,720 --> 00:25:13,399
Speaker 1: pandemic happened and my father was quarantined with us. We

479
00:25:13,400 --> 00:25:15,560
Speaker 1: were both of my parents were living with us for

480
00:25:15,560 --> 00:25:18,000
Speaker 1: the four months um that we were like really locked down.

481
00:25:18,480 --> 00:25:20,480
Speaker 1: And you know, my dad saw us like pulling up

482
00:25:20,520 --> 00:25:22,600
Speaker 1: the ring light and the cameras and this and that,

483
00:25:22,800 --> 00:25:26,280
Speaker 1: and he's just like sweet, you recorded thing and then

484
00:25:26,320 --> 00:25:28,440
Speaker 1: put it on YouTube. What do does do that makes

485
00:25:28,440 --> 00:25:31,040
Speaker 1: you money? I'm like, yes, who does pay you? You

486
00:25:31,080 --> 00:25:33,240
Speaker 1: have a boss on YouTube? I'm like, no, we don't

487
00:25:33,280 --> 00:25:34,960
Speaker 1: have a boss on YouTube. But you know, he just

488
00:25:35,000 --> 00:25:38,240
Speaker 1: could not wrap his mind around that unconventional way to

489
00:25:38,320 --> 00:25:42,399
Speaker 1: him of making money. Yes, so he was is key.

490
00:25:42,480 --> 00:25:45,080
Speaker 1: So I got for you number one way. Pay yourself first. Now,

491
00:25:45,080 --> 00:25:48,920
Speaker 1: when you say you're savings, are we talking net or gross?

492
00:25:49,160 --> 00:25:54,480
Speaker 1: I would think net? Well, I mean it can be

493
00:25:54,600 --> 00:25:56,760
Speaker 1: that can be tricky. I always like, at least start

494
00:25:56,800 --> 00:26:00,320
Speaker 1: with with ned. I mean ideally, yes, gross, but if

495
00:26:00,359 --> 00:26:02,639
Speaker 1: you're just starting out and things are tight, then at

496
00:26:02,720 --> 00:26:05,040
Speaker 1: least you would start with net. Because what you're wanting

497
00:26:05,080 --> 00:26:07,760
Speaker 1: to do is get into the practice of setting aside

498
00:26:07,960 --> 00:26:11,320
Speaker 1: because people think, like, um that it means you're living

499
00:26:11,400 --> 00:26:13,480
Speaker 1: less of a life when you set aside. That's why

500
00:26:13,480 --> 00:26:15,120
Speaker 1: I like to start people all slow, like, or you're

501
00:26:15,119 --> 00:26:17,720
Speaker 1: gonna do five percent? Do that you can do ten

502
00:26:17,760 --> 00:26:20,639
Speaker 1: percent of net? Okay, fine, but yes, ideally setting aside

503
00:26:20,720 --> 00:26:22,960
Speaker 1: thirty percent of gross. But it can be hard to

504
00:26:22,960 --> 00:26:25,520
Speaker 1: set aside thirty percent of growth because yes, who also

505
00:26:25,560 --> 00:26:28,479
Speaker 1: gets grows the I R and people need to understand

506
00:26:28,560 --> 00:26:32,200
Speaker 1: the weights between net and growth. Gross is say, for examples,

507
00:26:32,240 --> 00:26:34,520
Speaker 1: you get paid ten dollars. You know you made ten dollars,

508
00:26:34,560 --> 00:26:37,480
Speaker 1: that's gross. Net is the I R S gonna take

509
00:26:37,520 --> 00:26:43,520
Speaker 1: four that ten dollars. So you're about to get three

510
00:26:43,560 --> 00:26:45,399
Speaker 1: dollars out of the ten dollars you thought you was

511
00:26:45,400 --> 00:26:47,840
Speaker 1: getting to that three dollars you actually get in your check.

512
00:26:47,920 --> 00:26:50,800
Speaker 1: That's net. So people need to understand that between gross

513
00:26:50,840 --> 00:26:53,439
Speaker 1: and net when you're making plans, if you're making plans

514
00:26:53,480 --> 00:26:56,160
Speaker 1: on gross, understand that other people are going to get

515
00:26:56,200 --> 00:26:58,480
Speaker 1: part of that money first. So I just want to

516
00:26:58,920 --> 00:27:00,840
Speaker 1: well here and here's how you can said that. It's

517
00:27:00,920 --> 00:27:04,800
Speaker 1: that's the beauty of of a tax advantage retirement account. Right,

518
00:27:04,800 --> 00:27:07,000
Speaker 1: So if you do a four one K, you can

519
00:27:07,040 --> 00:27:10,919
Speaker 1: set aside twenty of your growth because that is the

520
00:27:10,960 --> 00:27:13,720
Speaker 1: one thing the IRS allows you to do. And they'll say,

521
00:27:13,760 --> 00:27:19,040
Speaker 1: okay you okay, caudem device. You guys made ten dollars. Wait,

522
00:27:19,119 --> 00:27:21,720
Speaker 1: before we take our tax money, do you want to

523
00:27:21,760 --> 00:27:24,240
Speaker 1: put some in your four one K? Because guess what,

524
00:27:24,240 --> 00:27:25,320
Speaker 1: we don't want to take care of you when you

525
00:27:25,320 --> 00:27:28,359
Speaker 1: get over, Like, yeah, I of the ten, I would

526
00:27:28,359 --> 00:27:30,280
Speaker 1: like to put two dollars in our four one K.

527
00:27:30,520 --> 00:27:32,720
Speaker 1: Then the i r S says, fine, we will not

528
00:27:32,920 --> 00:27:35,200
Speaker 1: tax you one ten, we will tax you one eight,

529
00:27:36,200 --> 00:27:38,440
Speaker 1: and so that it lowers your taxes now. So then

530
00:27:38,520 --> 00:27:41,600
Speaker 1: what happens is but later anytime you're if you're over

531
00:27:41,680 --> 00:27:43,560
Speaker 1: fifty nine and a half, then you can start with

532
00:27:43,600 --> 00:27:46,840
Speaker 1: drawing that money right the penalty and you pay taxes

533
00:27:46,880 --> 00:27:51,080
Speaker 1: on it later. Right. So then there's another tax advantage

534
00:27:51,080 --> 00:27:53,280
Speaker 1: account called a ROTH I rate. It is also a

535
00:27:53,320 --> 00:27:55,600
Speaker 1: retirement account. But then that's where you can put some

536
00:27:55,720 --> 00:27:59,120
Speaker 1: of your net money. Because what happens is you take

537
00:27:59,160 --> 00:28:01,480
Speaker 1: you have your take home pay, and then you might say,

538
00:28:01,480 --> 00:28:04,960
Speaker 1: you know what, I'm gonna put the other five in

539
00:28:05,040 --> 00:28:08,440
Speaker 1: my wrath IRA account, and that is money that's already

540
00:28:08,440 --> 00:28:10,760
Speaker 1: been taxing. The beauty of a ROTH account is that

541
00:28:11,440 --> 00:28:14,120
Speaker 1: the money was already taxed to put money in that account,

542
00:28:14,480 --> 00:28:16,680
Speaker 1: and then when fifty nine and a half or above

543
00:28:16,760 --> 00:28:18,640
Speaker 1: you pull that money out, you don't have to pay

544
00:28:18,680 --> 00:28:20,960
Speaker 1: taxes on that money or what it grew to. So

545
00:28:21,080 --> 00:28:23,480
Speaker 1: you put in ten thousand, and it's now sixty tho

546
00:28:24,000 --> 00:28:26,200
Speaker 1: that whole sixty we ain't gotta worry about it. You

547
00:28:26,240 --> 00:28:27,800
Speaker 1: don't have to pay taxes on it because you pay

548
00:28:27,880 --> 00:28:31,720
Speaker 1: taxes on the money going in. So my so this

549
00:28:31,800 --> 00:28:33,560
Speaker 1: is like some people always wonder, like what you should

550
00:28:33,560 --> 00:28:35,919
Speaker 1: do for a second, so I suggest a c sell. Well,

551
00:28:35,920 --> 00:28:38,680
Speaker 1: first have to say this, I'm a financial educator. I'm

552
00:28:38,680 --> 00:28:42,160
Speaker 1: gonna financial girlfriend. I'm not your financial advisor, absolutely, but

553
00:28:42,200 --> 00:28:44,120
Speaker 1: I'm sharing. Well, I'm just staring in general. This is

554
00:28:44,120 --> 00:28:48,360
Speaker 1: like my attorney, right, I'm sharing are just the things

555
00:28:48,360 --> 00:28:53,000
Speaker 1: that I do. Do your grandma? All right, I'm gonna

556
00:28:53,040 --> 00:28:56,760
Speaker 1: go all right now. So if you're like, huh, where

557
00:28:56,760 --> 00:28:58,560
Speaker 1: because someone asked me this the other day, where should

558
00:28:58,600 --> 00:29:00,800
Speaker 1: I put my money for retirement? And I said, one,

559
00:29:01,200 --> 00:29:05,280
Speaker 1: if your if your company offers a match, then start

560
00:29:05,320 --> 00:29:08,200
Speaker 1: with your four one k up to that match. So

561
00:29:08,280 --> 00:29:10,320
Speaker 1: they say, you know, you put in three percent and

562
00:29:10,320 --> 00:29:12,720
Speaker 1: we'll put in two percent. Whatever it is they'll give you.

563
00:29:12,760 --> 00:29:16,640
Speaker 1: Get your match money there first and then stop. Then

564
00:29:16,720 --> 00:29:19,320
Speaker 1: the excess money. If you still have money left over

565
00:29:19,360 --> 00:29:21,239
Speaker 1: after getting your match with them, because you're write your

566
00:29:21,240 --> 00:29:23,920
Speaker 1: matches free money, then I would I would max out

567
00:29:24,000 --> 00:29:26,480
Speaker 1: my wrath. If you're under fifty years old, you could

568
00:29:26,480 --> 00:29:28,880
Speaker 1: put in six thousand dollars. And here's how why I

569
00:29:28,880 --> 00:29:31,280
Speaker 1: want you to max out your wrath is that you

570
00:29:31,320 --> 00:29:34,440
Speaker 1: can only have a raw if you are I think

571
00:29:34,480 --> 00:29:36,000
Speaker 1: I don't know how much. I can't remember how much

572
00:29:36,000 --> 00:29:37,640
Speaker 1: of it. This is for a couple. But if you're

573
00:29:37,680 --> 00:29:40,200
Speaker 1: single and you make under a hundred and thirty nine

574
00:29:40,200 --> 00:29:43,720
Speaker 1: thousand dollars a year, so you have a limited time

575
00:29:43,720 --> 00:29:46,680
Speaker 1: frame if you're gonna make big money to contribute to

576
00:29:46,720 --> 00:29:48,920
Speaker 1: a row. Remember roth is when you can pull your

577
00:29:48,920 --> 00:29:54,440
Speaker 1: money out tax free, okay exactly, So you want to

578
00:29:54,480 --> 00:29:56,200
Speaker 1: take it. A roth is awesome, so you want to

579
00:29:56,200 --> 00:29:58,880
Speaker 1: take advantage, like I can't do it rock anymore, right,

580
00:29:58,960 --> 00:30:00,520
Speaker 1: So you want to get while to get thing is good,

581
00:30:00,560 --> 00:30:03,800
Speaker 1: So you wanna so I am four wind k first

582
00:30:03,920 --> 00:30:06,320
Speaker 1: up to the match. If there's no match, or you

583
00:30:06,400 --> 00:30:08,000
Speaker 1: already max that you form in one kid, go to

584
00:30:08,120 --> 00:30:10,320
Speaker 1: raw and then after you max that you're raw. So

585
00:30:10,360 --> 00:30:12,520
Speaker 1: the six is right now six thousand allars a year

586
00:30:12,560 --> 00:30:15,880
Speaker 1: if you're under fifty. If you're over fifty and seven thousand,

587
00:30:16,080 --> 00:30:18,320
Speaker 1: So if you can't do the raw any um or

588
00:30:18,360 --> 00:30:20,560
Speaker 1: you max that your raw right, then go back to

589
00:30:20,680 --> 00:30:22,280
Speaker 1: your for wine kid if you still have money, and

590
00:30:22,320 --> 00:30:25,760
Speaker 1: then you can maxie. Let me tell you Tiffany got

591
00:30:25,760 --> 00:30:27,160
Speaker 1: me over here one And if Sean is doing all

592
00:30:27,200 --> 00:30:32,280
Speaker 1: we gotta call our financial can we talk about financial

593
00:30:32,680 --> 00:30:36,600
Speaker 1: So here's the thing about financial advisors. Okay, financial people like,

594
00:30:36,600 --> 00:30:38,600
Speaker 1: what's the financial advisor? What's the financial planner? What's the

595
00:30:38,640 --> 00:30:43,480
Speaker 1: financial right? So a financial advisor is the overall name

596
00:30:43,840 --> 00:30:46,520
Speaker 1: of those people who give you advice right now. There

597
00:30:46,520 --> 00:30:48,720
Speaker 1: are different types of financial advisors. There could be like

598
00:30:48,720 --> 00:30:51,920
Speaker 1: an investment advisor, the best thing. It could be a planner.

599
00:30:52,200 --> 00:30:56,720
Speaker 1: But ideally the ideal type of financial advisor you want

600
00:30:56,880 --> 00:31:02,520
Speaker 1: is a certified financial planner. Great, because here's why. But certified.

601
00:31:02,560 --> 00:31:06,200
Speaker 1: That key word is certified because it would be certified. Yeah,

602
00:31:06,200 --> 00:31:09,000
Speaker 1: a CFP. They have to have three years of experience,

603
00:31:09,480 --> 00:31:12,160
Speaker 1: and they have to have passed a hardass test in

604
00:31:12,360 --> 00:31:15,840
Speaker 1: order and they have all this um um betting in

605
00:31:16,000 --> 00:31:19,920
Speaker 1: order to be certified because almost anyone calls financial So

606
00:31:20,000 --> 00:31:23,320
Speaker 1: people doing their due diligence finding that board certified plastic surgeon,

607
00:31:23,680 --> 00:31:27,040
Speaker 1: do the same with your financial advice. Please. That's the

608
00:31:27,080 --> 00:31:31,120
Speaker 1: c of a CFP certif And then there's different ways

609
00:31:31,120 --> 00:31:33,320
Speaker 1: they can get paid. The three main ways are this

610
00:31:33,360 --> 00:31:36,520
Speaker 1: is they make it so confusing. There's the only fee

611
00:31:36,520 --> 00:31:38,960
Speaker 1: based commission. I feel like commission is easy. You know

612
00:31:39,000 --> 00:31:41,120
Speaker 1: what commission is. That just means that if they sell

613
00:31:41,160 --> 00:31:43,840
Speaker 1: you something like insurance, they get paid off. That is

614
00:31:43,840 --> 00:31:49,080
Speaker 1: the worst one, right, my dad? Right? What's because my

615
00:31:49,120 --> 00:31:52,080
Speaker 1: dad would say who he who pays the piper determines

616
00:31:52,120 --> 00:31:54,680
Speaker 1: the tune. Right for the young ones. Whoever pays the

617
00:31:54,760 --> 00:31:56,280
Speaker 1: dj you get to play, You get to pick the

618
00:31:58,120 --> 00:32:01,400
Speaker 1: If the financial planner is getting paid aid from the product,

619
00:32:01,480 --> 00:32:03,840
Speaker 1: what they're not thinking about you. They're worried about what

620
00:32:03,880 --> 00:32:07,360
Speaker 1: the product, so commission base, and we're not. We're not

621
00:32:07,400 --> 00:32:10,360
Speaker 1: for a commission base. Next is is this is what

622
00:32:10,440 --> 00:32:13,400
Speaker 1: I have. I have fee only my CFP. So fee

623
00:32:13,400 --> 00:32:16,000
Speaker 1: only is ideal because when you have someone who's fee only,

624
00:32:16,240 --> 00:32:19,840
Speaker 1: it means they only get their fee from you. That

625
00:32:19,880 --> 00:32:23,280
Speaker 1: means you are that you are paying the details and

626
00:32:23,320 --> 00:32:25,560
Speaker 1: they have a fiduciary. Yes, that means that they are

627
00:32:25,560 --> 00:32:28,280
Speaker 1: a fiduciary, meaning that by law they have to put

628
00:32:28,320 --> 00:32:31,440
Speaker 1: your interest first and they don't so mine. So my

629
00:32:31,760 --> 00:32:34,520
Speaker 1: talking to my CFP Angeli, so Julie might say what

630
00:32:34,680 --> 00:32:37,960
Speaker 1: she did, Typically, you're under insured. You should get more insurance. Now,

631
00:32:38,120 --> 00:32:41,560
Speaker 1: a fee based or commission based, a financial um planner

632
00:32:41,960 --> 00:32:46,280
Speaker 1: might sell me the insurance angelie, she already got her money.

633
00:32:46,440 --> 00:32:49,000
Speaker 1: She gets a flat rate for me, and so she's

634
00:32:49,040 --> 00:32:51,080
Speaker 1: just telling me, girl, you need more in charge, call

635
00:32:51,160 --> 00:32:54,720
Speaker 1: your insurance company and see exactly. So it doesn't she's

636
00:32:54,760 --> 00:32:56,960
Speaker 1: not giving me advice based upon what can add money

637
00:32:56,960 --> 00:33:00,960
Speaker 1: to her pocket because there is nothing. He fla exact

638
00:33:01,080 --> 00:33:05,440
Speaker 1: exactly convintions. So you're looking for a fee only financial

639
00:33:05,440 --> 00:33:08,600
Speaker 1: advisors that it's only you that's paying them, so that

640
00:33:08,720 --> 00:33:10,320
Speaker 1: those are the those are because if you like fee

641
00:33:10,360 --> 00:33:13,280
Speaker 1: base folks sometimes will get their flat fee from you,

642
00:33:13,360 --> 00:33:15,560
Speaker 1: but then they also can make commissions, offer things on

643
00:33:15,600 --> 00:33:18,360
Speaker 1: the background. I'm not interested in working with someone who

644
00:33:18,400 --> 00:33:21,240
Speaker 1: gets paid to sell me something. So, Tiffany, since we're

645
00:33:21,400 --> 00:33:23,680
Speaker 1: you know, since we're talking about the pandemic, right, and

646
00:33:23,800 --> 00:33:27,360
Speaker 1: a lot of people have lost jobs, right, I want

647
00:33:27,360 --> 00:33:31,760
Speaker 1: to know who in today's world really needs a financial planner?

648
00:33:32,400 --> 00:33:35,560
Speaker 1: And if you don't need one, how can you prepare

649
00:33:35,640 --> 00:33:37,840
Speaker 1: your life if you if you don't make enough income

650
00:33:37,920 --> 00:33:40,440
Speaker 1: to you know, particularly have a financial planner? What are

651
00:33:40,480 --> 00:33:42,120
Speaker 1: the stuff The first thing I have right now, the

652
00:33:42,240 --> 00:33:44,680
Speaker 1: number one pay yourself first. I'm putting that that's going

653
00:33:44,720 --> 00:33:47,080
Speaker 1: to be one of my keys to success. But what

654
00:33:47,120 --> 00:33:49,200
Speaker 1: else can things do? What else can people do? If

655
00:33:49,200 --> 00:33:52,360
Speaker 1: they do not need they can sign and all the

656
00:33:52,520 --> 00:33:55,960
Speaker 1: people don't need financial planners because you really should have

657
00:33:56,680 --> 00:33:59,040
Speaker 1: like ideally they say you should have about a hundred

658
00:33:59,080 --> 00:34:01,920
Speaker 1: thousands and two hundred fikey thousand dollars worth of assets

659
00:34:02,000 --> 00:34:06,000
Speaker 1: to invest, you know, because there are fees involved in it.

660
00:34:05,840 --> 00:34:07,920
Speaker 1: It may not make sense if you don't have that much,

661
00:34:07,960 --> 00:34:10,440
Speaker 1: but you have maybe saying you have a special needs child,

662
00:34:10,480 --> 00:34:13,759
Speaker 1: you might need a little assistance, um, because there are

663
00:34:13,760 --> 00:34:17,200
Speaker 1: fees associated the when it comes to your money. The

664
00:34:17,320 --> 00:34:19,799
Speaker 1: closer it gets to a human hand helping you, the

665
00:34:19,880 --> 00:34:22,400
Speaker 1: more expensive it's going to be. Like the fees. So

666
00:34:22,440 --> 00:34:25,840
Speaker 1: a financial planner is the most expensive of all the help. Right.

667
00:34:25,960 --> 00:34:28,840
Speaker 1: So you can also use something called like UM a

668
00:34:29,000 --> 00:34:33,800
Speaker 1: robot advisor. This is not this is a an algorithm, right,

669
00:34:33,920 --> 00:34:37,560
Speaker 1: So robot advisors are like UM trying to think like

670
00:34:37,560 --> 00:34:42,040
Speaker 1: somewhere like a Vanguard has a child Schwab Fidelity. That's

671
00:34:43,120 --> 00:34:45,279
Speaker 1: you know what I mean. That's when you go and

672
00:34:45,320 --> 00:34:47,800
Speaker 1: you typically with a with a Roadbo advisor, you will

673
00:34:48,280 --> 00:34:50,680
Speaker 1: you will put in your you will like fill out

674
00:34:50,760 --> 00:34:53,360
Speaker 1: some sort of like a survey to say I'm this

675
00:34:53,480 --> 00:34:55,839
Speaker 1: old and this is my temperament and all this kind

676
00:34:55,840 --> 00:34:58,440
Speaker 1: of stuff, and they will generate. This is the this

677
00:34:58,480 --> 00:35:00,360
Speaker 1: is where we will this is where your they should go.

678
00:35:00,400 --> 00:35:02,239
Speaker 1: We're gonna put it there for you. So because it's

679
00:35:02,239 --> 00:35:06,040
Speaker 1: not a person if fees are less right, So that's

680
00:35:06,080 --> 00:35:07,880
Speaker 1: something that you can do. Or also you can do

681
00:35:07,960 --> 00:35:10,600
Speaker 1: something called like it's the d y I method, and

682
00:35:10,680 --> 00:35:13,360
Speaker 1: that is a brokerage from a discount brokerage firm. So

683
00:35:13,400 --> 00:35:16,360
Speaker 1: that's like, um, like, uh is it a betterment? No?

684
00:35:16,440 --> 00:35:19,400
Speaker 1: Better mean it's not brokerage firm. Um. This is one

685
00:35:19,440 --> 00:35:21,799
Speaker 1: of those firms like each trade someplace where you can

686
00:35:21,840 --> 00:35:24,640
Speaker 1: actually pick your things yourself. So this is for folks

687
00:35:24,640 --> 00:35:27,879
Speaker 1: who are like I think trade a lot, right yep.

688
00:35:28,400 --> 00:35:31,000
Speaker 1: So you can go in and say, huh, they don't

689
00:35:31,000 --> 00:35:33,880
Speaker 1: want to give you much help, but they say, um,

690
00:35:33,920 --> 00:35:35,360
Speaker 1: you know here all the stocks in the bonds and

691
00:35:35,360 --> 00:35:37,480
Speaker 1: everything else. You can pick those things yourself. So there's

692
00:35:37,560 --> 00:35:39,600
Speaker 1: d y I. If you're someone who was like I

693
00:35:39,640 --> 00:35:42,040
Speaker 1: don't mind picking myself, there's robo where you're like, look,

694
00:35:42,200 --> 00:35:43,640
Speaker 1: I just want to take a survey. Here's my fifty

695
00:35:43,680 --> 00:35:45,960
Speaker 1: bucks every month, and they put it places for you

696
00:35:46,400 --> 00:35:49,680
Speaker 1: or there's a financial advisor, financial advisor being the most expensive,

697
00:35:50,600 --> 00:35:52,920
Speaker 1: d y I and and robo being the least expensive.

698
00:35:52,960 --> 00:35:55,239
Speaker 1: Those the f you're looking for is usually call your

699
00:35:55,239 --> 00:35:58,440
Speaker 1: expense ratio. But if you are someone, if you're in

700
00:35:58,480 --> 00:36:01,960
Speaker 1: a during the pandemic, you're fortunate to have excess money

701
00:36:02,280 --> 00:36:04,839
Speaker 1: and well one, let's let's pull back. If you're not,

702
00:36:05,280 --> 00:36:06,879
Speaker 1: there are people who are not going to have enough

703
00:36:06,880 --> 00:36:09,239
Speaker 1: money even to pay for their noodle budget. Right, that's

704
00:36:09,239 --> 00:36:11,000
Speaker 1: when you really want to get even lower to what

705
00:36:11,040 --> 00:36:13,640
Speaker 1: I call your health and safety budget. That's when you

706
00:36:13,680 --> 00:36:16,680
Speaker 1: have to acknowledge that somebody is not getting paid, but

707
00:36:17,200 --> 00:36:19,719
Speaker 1: the things that will get paid are the things that

708
00:36:19,760 --> 00:36:22,760
Speaker 1: maintain my health and the things that maintain my safety.

709
00:36:23,080 --> 00:36:24,680
Speaker 1: And so I've been there before where I had to

710
00:36:24,680 --> 00:36:28,400
Speaker 1: make a decision and say, Verizon we cool, but not

711
00:36:28,520 --> 00:36:30,959
Speaker 1: cooler than my health and safe and I need mind healer.

712
00:36:31,120 --> 00:36:33,520
Speaker 1: This is important. This is important because right now, as

713
00:36:33,560 --> 00:36:35,560
Speaker 1: a pandemic, people are losing jobs and they're trying to

714
00:36:35,560 --> 00:36:38,799
Speaker 1: figure out how to pay prioritize what needs to get paid.

715
00:36:38,840 --> 00:36:42,040
Speaker 1: And it's a tough feeling to say, you know, but

716
00:36:42,400 --> 00:36:44,239
Speaker 1: here you're you're listening. You just got to go line

717
00:36:44,280 --> 00:36:46,880
Speaker 1: by line because a lot of these companies, is it

718
00:36:46,960 --> 00:36:50,080
Speaker 1: safe to say that they're not reassessing or reevaluating like

719
00:36:50,200 --> 00:36:53,520
Speaker 1: interest payments or fees or any of that. Are they

720
00:36:53,640 --> 00:36:58,200
Speaker 1: making any entrustments time? Right, So it's such a unique

721
00:36:58,239 --> 00:37:01,080
Speaker 1: time that companies are more meania that they were before.

722
00:37:01,120 --> 00:37:04,920
Speaker 1: But everybody's not being cool about it. And so you before,

723
00:37:05,000 --> 00:37:07,879
Speaker 1: don't you don't just stop paying. You might look and say,

724
00:37:07,920 --> 00:37:10,520
Speaker 1: I've got these ten bills and other ten bills. These

725
00:37:10,719 --> 00:37:12,759
Speaker 1: four bills are my health and safety bills. That's what

726
00:37:12,760 --> 00:37:16,080
Speaker 1: if I could afford, everybody got something important, right, So

727
00:37:16,120 --> 00:37:18,320
Speaker 1: then the other ones you will call and say, hey,

728
00:37:18,480 --> 00:37:21,120
Speaker 1: I'm having trouble. I mean, Corona, we all know, is

729
00:37:21,120 --> 00:37:23,600
Speaker 1: there something you can do to help? Many will help,

730
00:37:23,680 --> 00:37:26,560
Speaker 1: but some will not because you know they're just whatever,

731
00:37:26,800 --> 00:37:30,000
Speaker 1: they're not interested in being helpful. But here's the thing.

732
00:37:30,320 --> 00:37:32,920
Speaker 1: It as long as it's not gonna affect your health

733
00:37:33,000 --> 00:37:35,120
Speaker 1: and safety, will it affect your credit score? You have?

734
00:37:35,200 --> 00:37:37,160
Speaker 1: But credit scores could be fixed. At one point, my

735
00:37:37,160 --> 00:37:42,200
Speaker 1: credit score was up five seven and guess what I'm

736
00:37:42,080 --> 00:37:44,040
Speaker 1: I'm I'm an eight oh seven now, baby. But they're

737
00:37:44,040 --> 00:37:47,560
Speaker 1: gonna tell me, say stressing me out with that whole

738
00:37:47,560 --> 00:37:50,120
Speaker 1: credit thing. And there's credit credit sets. Me is that

739
00:37:50,120 --> 00:37:52,160
Speaker 1: and then those apparently are not even like your actual

740
00:37:52,200 --> 00:37:54,239
Speaker 1: credit score. You have to get it from like you know,

741
00:37:55,760 --> 00:37:58,520
Speaker 1: I do, ever, so well, the best to me, the

742
00:37:58,560 --> 00:38:01,280
Speaker 1: best site that I found, because those are credit scores,

743
00:38:01,320 --> 00:38:03,279
Speaker 1: but there are so many types of credit scores. The

744
00:38:03,360 --> 00:38:06,000
Speaker 1: most used is your FICO score. That's the most common,

745
00:38:06,200 --> 00:38:08,080
Speaker 1: and if you have a good FIGHTO score, you likely

746
00:38:08,080 --> 00:38:09,520
Speaker 1: have a good score every place elf, So I tell

747
00:38:09,560 --> 00:38:12,000
Speaker 1: people look at that. And the website that I like,

748
00:38:12,440 --> 00:38:16,200
Speaker 1: um is um what is it called? Credit scorecard dot

749
00:38:16,200 --> 00:38:18,480
Speaker 1: com is because when I was thinking about getting a mortgage,

750
00:38:18,760 --> 00:38:21,480
Speaker 1: I went to Discover owns it. I don't work with Discovery,

751
00:38:21,520 --> 00:38:24,399
Speaker 1: but Discover owns it. But I will say that they

752
00:38:24,440 --> 00:38:26,719
Speaker 1: don't you don't. They don't require you to give them

753
00:38:26,719 --> 00:38:28,560
Speaker 1: a credit card. You don't have to have a Discover card.

754
00:38:28,880 --> 00:38:30,880
Speaker 1: But what I liked about it is that when I

755
00:38:30,920 --> 00:38:33,759
Speaker 1: pulled my credit score and my mortgage guy pulled my

756
00:38:33,760 --> 00:38:36,640
Speaker 1: credit score, it was the same. So I'm like, oh, y'all,

757
00:38:36,719 --> 00:38:40,719
Speaker 1: y'all legit. So yeah, what did I say? Or card

758
00:38:40,760 --> 00:38:43,360
Speaker 1: dot dot but just like us, because they will be

759
00:38:43,360 --> 00:38:47,440
Speaker 1: emailing you. You want to know you know your little right, right,

760
00:38:47,680 --> 00:38:50,400
Speaker 1: So I don't worry about your credit in times like

761
00:38:50,480 --> 00:38:52,279
Speaker 1: this unless you're you gotta buy a house soon or

762
00:38:52,320 --> 00:38:55,680
Speaker 1: car soon during pandemic. You're not right, So I would

763
00:38:55,680 --> 00:38:57,759
Speaker 1: not worry about that. Instead, worry about your health and

764
00:38:57,800 --> 00:39:00,320
Speaker 1: safety bills. Everyone else can wait. And if you find

765
00:39:00,680 --> 00:39:03,360
Speaker 1: that the people that you're forcing to wait start harassing

766
00:39:03,400 --> 00:39:05,279
Speaker 1: you via the phone because they are apt to do.

767
00:39:05,360 --> 00:39:07,360
Speaker 1: I have been harassed many a time via the phone.

768
00:39:07,400 --> 00:39:10,399
Speaker 1: They will call you your mama and your cousin man. Right,

769
00:39:10,600 --> 00:39:12,759
Speaker 1: So I went right down the staples in my last

770
00:39:12,800 --> 00:39:15,640
Speaker 1: little seventy cents, and that's the cease and desist letter,

771
00:39:15,640 --> 00:39:19,560
Speaker 1: which is free online. Get the temp list and desist

772
00:39:19,880 --> 00:39:23,640
Speaker 1: for literally. I googled. It was like, dear beep, please

773
00:39:23,680 --> 00:39:26,799
Speaker 1: stop calling me at these numbers, email me and you

774
00:39:26,800 --> 00:39:29,319
Speaker 1: may mail me. You are just because you owe someone,

775
00:39:29,440 --> 00:39:31,920
Speaker 1: it doesn't give them the right to harass. You give

776
00:39:31,960 --> 00:39:35,120
Speaker 1: them the right. These you know, these are the people

777
00:39:35,200 --> 00:39:39,319
Speaker 1: need to hear because for your mental health, you need

778
00:39:39,360 --> 00:39:42,360
Speaker 1: to understand how to get people to stop harassing you,

779
00:39:42,440 --> 00:39:46,240
Speaker 1: number one, and to understand to prioritize your physical health

780
00:39:46,440 --> 00:39:48,880
Speaker 1: so you can actually get back to work when the

781
00:39:48,920 --> 00:39:52,440
Speaker 1: pandemic is done. Health and pinances are like people are

782
00:39:52,480 --> 00:39:56,200
Speaker 1: not prioritizing what's important. They're worried about their credit score.

783
00:39:56,200 --> 00:39:58,680
Speaker 1: They're worried about what people might say if I have

784
00:39:58,760 --> 00:40:01,440
Speaker 1: to call and ask for help. So they're spreading themselves

785
00:40:01,480 --> 00:40:03,520
Speaker 1: in and stressing out trying to do things and the

786
00:40:04,040 --> 00:40:05,840
Speaker 1: tricking up all your money. I'm telling I wish I

787
00:40:05,840 --> 00:40:08,320
Speaker 1: would have told, you know, twenty nine year old Tippany

788
00:40:08,360 --> 00:40:10,799
Speaker 1: at the time, like YO, leave them money. You're like

789
00:40:10,880 --> 00:40:13,600
Speaker 1: they can't wait like that, the bank can wait. The

790
00:40:13,600 --> 00:40:15,239
Speaker 1: worst they're gonna do is they're gonna bring your credit

791
00:40:15,239 --> 00:40:16,840
Speaker 1: score down. And guess what five years a girl, you

792
00:40:16,880 --> 00:40:21,200
Speaker 1: got me back and better than ever and now like right,

793
00:40:22,080 --> 00:40:24,800
Speaker 1: tell me where were you and and why? I was

794
00:40:24,840 --> 00:40:29,480
Speaker 1: like sure, where was that thing? I was trying to

795
00:40:29,480 --> 00:40:33,640
Speaker 1: pay off, the spending money, not having no cash, trying

796
00:40:33,640 --> 00:40:35,319
Speaker 1: to keeping the credit score up, knowing that we still

797
00:40:35,320 --> 00:40:37,080
Speaker 1: ain't gonna have the capital or buying nothing or put

798
00:40:37,080 --> 00:40:38,719
Speaker 1: down down payment on the house. So it was like

799
00:40:39,640 --> 00:40:42,800
Speaker 1: I will say this, Yeah, So the point a credit score,

800
00:40:43,239 --> 00:40:46,040
Speaker 1: if there's one thing you could sacrifice, If there's one

801
00:40:46,040 --> 00:40:48,520
Speaker 1: thing you could say you know what you could go

802
00:40:48,920 --> 00:40:50,919
Speaker 1: it is your credit score. Because of all the things,

803
00:40:50,960 --> 00:40:53,120
Speaker 1: all the money things, the debt that's saving is the

804
00:40:53,120 --> 00:40:55,440
Speaker 1: budget of all the money things. Credit score is the

805
00:40:55,480 --> 00:40:59,080
Speaker 1: easiest to manipulate up. So like, if there's a list

806
00:40:59,120 --> 00:41:01,120
Speaker 1: of things to worry about, oh my god, my blood,

807
00:41:01,160 --> 00:41:03,000
Speaker 1: and my dad, my credit score should be at the

808
00:41:03,040 --> 00:41:05,600
Speaker 1: bottom because there's so many tips and tricks to raising

809
00:41:05,600 --> 00:41:08,040
Speaker 1: your credit score. I'm not worrying my credit score dropped

810
00:41:08,040 --> 00:41:10,359
Speaker 1: to a six hundred. I would say, okay, because that's

811
00:41:10,360 --> 00:41:12,279
Speaker 1: what Give me six months, give me a year. I'll

812
00:41:12,280 --> 00:41:15,960
Speaker 1: be right back at the least of your worries, unless

813
00:41:16,360 --> 00:41:18,919
Speaker 1: you are trying to buy a house right now, which

814
00:41:18,920 --> 00:41:20,840
Speaker 1: if you are in financial turmoil, I don't know you

815
00:41:20,840 --> 00:41:24,720
Speaker 1: why right exactly exactly Before we move on to the listener,

816
00:41:24,880 --> 00:41:27,840
Speaker 1: I had one question for you, Tiffany. I grew up

817
00:41:27,880 --> 00:41:31,440
Speaker 1: in a household where like my mom, my grandmother, they

818
00:41:31,520 --> 00:41:33,759
Speaker 1: were a part of um. I'm not sure if it's

819
00:41:33,800 --> 00:41:37,799
Speaker 1: something similar. You guys have susu a pardner, so you

820
00:41:37,840 --> 00:41:39,960
Speaker 1: know it's like, oh, yeah, mom, can I get such

821
00:41:39,960 --> 00:41:42,040
Speaker 1: and such? Yeah, wait till my partner draw, Like you know,

822
00:41:42,120 --> 00:41:45,200
Speaker 1: that was the thing you know, so I've seen that

823
00:41:45,239 --> 00:41:48,600
Speaker 1: there are some things popping up now, like the savings

824
00:41:48,680 --> 00:41:52,480
Speaker 1: flowers and things like that, and it sounds kind of similar,

825
00:41:52,520 --> 00:41:55,520
Speaker 1: but it also kind of seems a little pyramid schemish

826
00:41:55,560 --> 00:41:57,680
Speaker 1: to me and I we heard of one recently where

827
00:41:57,680 --> 00:41:59,440
Speaker 1: it's like you put a certain amount of money in

828
00:41:59,480 --> 00:42:01,680
Speaker 1: and then you as you bring people in, you get more.

829
00:42:01,760 --> 00:42:04,920
Speaker 1: So it's almost like a susue partner slash pyramid scheme.

830
00:42:05,040 --> 00:42:07,319
Speaker 1: I'm not sure how to dissect it, but are these

831
00:42:07,320 --> 00:42:09,480
Speaker 1: things legitimate and do they work in a time like this?

832
00:42:09,560 --> 00:42:11,359
Speaker 1: And if not, what can people do instead if they're

833
00:42:11,360 --> 00:42:13,200
Speaker 1: looking to kind of help each other out with a

834
00:42:13,200 --> 00:42:16,279
Speaker 1: saving system. So as a chip of immigrants, I'm so

835
00:42:16,360 --> 00:42:18,399
Speaker 1: pissed when they call that stuff su sue partner. It's

836
00:42:18,440 --> 00:42:21,360
Speaker 1: not what my mom and your mom and all the

837
00:42:21,360 --> 00:42:24,080
Speaker 1: other immigrant parents that we know we're doing was legit.

838
00:42:24,400 --> 00:42:26,680
Speaker 1: It was a group of people because I bet she

839
00:42:26,719 --> 00:42:29,440
Speaker 1: was with your auntie, all of them because Auntie Sue,

840
00:42:29,719 --> 00:42:32,680
Speaker 1: AUNTI Sue didn't have her money that was going to her.

841
00:42:33,160 --> 00:42:35,319
Speaker 1: My grandmother even had one of her job, Like on

842
00:42:35,400 --> 00:42:37,160
Speaker 1: her job, it was like a couple of her coworkers.

843
00:42:37,200 --> 00:42:39,719
Speaker 1: It's like okay, And if somebody was like a couple

844
00:42:39,760 --> 00:42:41,439
Speaker 1: of hours late with the drop or to pick off,

845
00:42:41,480 --> 00:42:43,400
Speaker 1: it was like because he was not everyone in it.

846
00:42:44,040 --> 00:42:47,440
Speaker 1: So susos are different because susu you're not actually making money.

847
00:42:47,600 --> 00:42:51,040
Speaker 1: You're passing the same amount of money around. So you

848
00:42:51,239 --> 00:42:54,200
Speaker 1: if a suzu round is finished, meaning like the five

849
00:42:54,200 --> 00:42:57,000
Speaker 1: people eventually get money, the same money that you put

850
00:42:57,000 --> 00:42:58,719
Speaker 1: in is the same one you will that you get out.

851
00:42:59,000 --> 00:43:01,239
Speaker 1: It's just it's just it's a savings It's just like

852
00:43:01,360 --> 00:43:02,960
Speaker 1: I put my money in five months from now, I

853
00:43:02,960 --> 00:43:05,239
Speaker 1: see my full money back. So susu is a great way,

854
00:43:05,320 --> 00:43:07,920
Speaker 1: especially for for for black and brown folks and immigrant

855
00:43:07,960 --> 00:43:10,799
Speaker 1: folks to have a way to save and to have

856
00:43:10,960 --> 00:43:13,799
Speaker 1: access to capital to do things when they likely would

857
00:43:13,840 --> 00:43:16,480
Speaker 1: not from the bank. So susus are told interest and

858
00:43:16,520 --> 00:43:19,600
Speaker 1: all that extra stuff exactly exactly. So the key to

859
00:43:19,719 --> 00:43:22,480
Speaker 1: a susu is, you know, it's a legit susu. What

860
00:43:22,560 --> 00:43:24,759
Speaker 1: it's the same group of people. You don't have to

861
00:43:24,800 --> 00:43:27,839
Speaker 1: add new people to get to make money. The moment, yes,

862
00:43:28,080 --> 00:43:31,400
Speaker 1: the moment that everyone has to continuously add folks to

863
00:43:31,480 --> 00:43:33,759
Speaker 1: get paid. You know, now you're in the pyramid scheme

864
00:43:34,080 --> 00:43:36,120
Speaker 1: regardless of what they call it, right, But I have

865
00:43:36,200 --> 00:43:38,120
Speaker 1: to add random folks because you have to ask yourself

866
00:43:38,120 --> 00:43:40,080
Speaker 1: that I had a friend who did it. She said, Oh,

867
00:43:40,080 --> 00:43:41,400
Speaker 1: I put in you know, two thousand. I was, I

868
00:43:41,440 --> 00:43:43,680
Speaker 1: got that ten and she's like, oh, tip is legit.

869
00:43:44,000 --> 00:43:45,959
Speaker 1: I said, it's a scam, girl, She said, how's the scam?

870
00:43:45,960 --> 00:43:48,440
Speaker 1: I got paid? I said, hello, people get a scam

871
00:43:49,600 --> 00:43:53,879
Speaker 1: because we wouldn't scale, you know, like like someone's gonna

872
00:43:53,880 --> 00:43:55,640
Speaker 1: snatch your purse and they're gonna get off. You know,

873
00:43:55,680 --> 00:44:00,960
Speaker 1: they're like, so asked her. I said, if you put

874
00:44:01,000 --> 00:44:02,920
Speaker 1: in two thousand and you got that ten, where the

875
00:44:03,000 --> 00:44:06,640
Speaker 1: eight thousand comes from? Up in the business with that

876
00:44:06,840 --> 00:44:09,240
Speaker 1: magical it come from? You know that naturally it came from.

877
00:44:09,280 --> 00:44:13,680
Speaker 1: It came from four other people, fools that ain't gonna

878
00:44:13,680 --> 00:44:16,520
Speaker 1: get their money. I said, you just came up just

879
00:44:18,320 --> 00:44:20,319
Speaker 1: and so that's that's the thing. Like you have to

880
00:44:20,360 --> 00:44:24,040
Speaker 1: continuously add new people, adding people, add new people. Eventually

881
00:44:24,239 --> 00:44:27,160
Speaker 1: there's going to be there's a threshold where there's not

882
00:44:27,320 --> 00:44:29,320
Speaker 1: enough people who are willing to fall for it anymore,

883
00:44:29,360 --> 00:44:32,000
Speaker 1: and that's when the falls and the early people got paid.

884
00:44:32,239 --> 00:44:34,560
Speaker 1: But you never know what you don't know if you're early,

885
00:44:34,560 --> 00:44:36,280
Speaker 1: you don't know if you're late. But the late people,

886
00:44:36,480 --> 00:44:38,560
Speaker 1: they never know that they're late ones. They're the ones

887
00:44:38,600 --> 00:44:40,960
Speaker 1: that lose their two thousand, their two hundred or whatever dollars.

888
00:44:41,200 --> 00:44:44,160
Speaker 1: So I tell people, yes, you can get lucky and

889
00:44:44,239 --> 00:44:46,560
Speaker 1: maybe get one round off, you know, but is it

890
00:44:46,640 --> 00:44:48,839
Speaker 1: worth it if you've already type for cash, you want

891
00:44:48,840 --> 00:44:51,480
Speaker 1: to throw away two hundred dollars for hopeful I get

892
00:44:51,840 --> 00:44:54,759
Speaker 1: get my money? Now? They away from those, Yeah, from

893
00:44:54,760 --> 00:44:56,520
Speaker 1: those like if you have to. Like I said, it's

894
00:44:56,520 --> 00:44:58,919
Speaker 1: so if you have a definite circle, it's the five

895
00:44:58,960 --> 00:45:00,759
Speaker 1: of us, it's the ten of us. Now we're gonna

896
00:45:00,760 --> 00:45:03,759
Speaker 1: start this super that's okay, but it's the ten of us,

897
00:45:03,760 --> 00:45:05,960
Speaker 1: and every every person has to bring in tent and

898
00:45:06,000 --> 00:45:08,560
Speaker 1: those ten have to bring intent. And now now we're

899
00:45:08,560 --> 00:45:13,839
Speaker 1: talking about eventually somebody gonna get ripped off right right

900
00:45:13,920 --> 00:45:17,080
Speaker 1: right exactly. It'll be your your mama too, that you

901
00:45:17,200 --> 00:45:18,600
Speaker 1: bring me in and she didn't put her money in

902
00:45:18,800 --> 00:45:20,480
Speaker 1: and then it falls apart. She's looking at you like

903
00:45:22,280 --> 00:45:26,160
Speaker 1: these people people don't try to im pyramid schemes. Seemed

904
00:45:26,160 --> 00:45:28,040
Speaker 1: like it's an immigrant thing. Bernie made off ran the

905
00:45:28,080 --> 00:45:30,680
Speaker 1: pyramid scheme all Yeah, it was Rob Peter to pay

906
00:45:30,719 --> 00:45:33,040
Speaker 1: Pole and he continued to get millions of dollars from

907
00:45:33,080 --> 00:45:35,200
Speaker 1: people and then pay the people that he brought in

908
00:45:35,239 --> 00:45:37,640
Speaker 1: first talk about made them think they were making money,

909
00:45:37,680 --> 00:45:40,160
Speaker 1: and they just bringing more people until it was passing

910
00:45:40,200 --> 00:45:46,080
Speaker 1: them right. Ultimately, Yeah, that would have been would have

911
00:45:46,080 --> 00:45:47,880
Speaker 1: stiff to sniff them out. Like wait a second, you

912
00:45:47,920 --> 00:45:50,239
Speaker 1: can tell you to ask me when it came out.

913
00:45:50,360 --> 00:45:53,160
Speaker 1: It came out though, that seems scheme came out when

914
00:45:53,200 --> 00:45:55,839
Speaker 1: when the stimulus checks came out. If you notice people

915
00:45:55,840 --> 00:45:59,040
Speaker 1: are the original scammart is the one who plants the seed.

916
00:45:59,360 --> 00:46:01,719
Speaker 1: They're like they with doing refund time. Yes, they did

917
00:46:01,719 --> 00:46:03,759
Speaker 1: it doing stimulus check time because they know people have

918
00:46:03,840 --> 00:46:07,440
Speaker 1: cool and beyond the dust off, the blessing loom and

919
00:46:07,480 --> 00:46:10,120
Speaker 1: then is the blessing low I said, the devil is

920
00:46:10,120 --> 00:46:14,000
Speaker 1: a lion. I'm gonna put that as one of my

921
00:46:14,040 --> 00:46:17,880
Speaker 1: things avoid scams. When when when you get into tons

922
00:46:17,880 --> 00:46:21,200
Speaker 1: of economic strife, that's when most of the biggest scam

923
00:46:21,239 --> 00:46:23,560
Speaker 1: artists come out. Like you said, so people make a

924
00:46:23,560 --> 00:46:25,320
Speaker 1: little bit of money from a stimulus check or a

925
00:46:25,400 --> 00:46:27,759
Speaker 1: tax returning, like I gotta make some extra money, let

926
00:46:27,760 --> 00:46:30,200
Speaker 1: me give it to this savory, this unsavory fellow over

927
00:46:30,280 --> 00:46:32,400
Speaker 1: there with the slip back here. He said he can

928
00:46:32,480 --> 00:46:35,600
Speaker 1: quadroople my money in two days. Avoid scams. I gotta

929
00:46:35,680 --> 00:46:39,200
Speaker 1: nowhere exactly. Feliks a bit smarmy to me. All right,

930
00:46:39,239 --> 00:46:41,960
Speaker 1: Before we're moving to Tiffany, I just really want to

931
00:46:41,960 --> 00:46:46,160
Speaker 1: touch quickly on any services that you offer, any special services,

932
00:46:46,560 --> 00:46:48,920
Speaker 1: you know, let people know, of course, anything that you're

933
00:46:48,920 --> 00:46:51,120
Speaker 1: doing during COVID to help any programs you may have,

934
00:46:51,160 --> 00:46:54,440
Speaker 1: anything online, any courses where can people find you to

935
00:46:54,560 --> 00:46:59,240
Speaker 1: educate themselves if they're looking for particular things with finance. Yes, no, absolutely,

936
00:46:59,280 --> 00:47:01,800
Speaker 1: thank you. So I am the budget LISTA at the

937
00:47:01,840 --> 00:47:06,960
Speaker 1: budget lista dot com and just the budget needsta on Instagram, Facebook, YouTube, Twitter, everywhere.

938
00:47:07,080 --> 00:47:09,840
Speaker 1: Um but I do have an online school called the

939
00:47:09,880 --> 00:47:14,359
Speaker 1: Live Richer Academy and specifically for women, although we do

940
00:47:14,400 --> 00:47:17,480
Speaker 1: have some gods who are like, I don't give there

941
00:47:19,160 --> 00:47:24,359
Speaker 1: this money, right and so so we have all these

942
00:47:24,400 --> 00:47:27,640
Speaker 1: amazing experts that come in and teach typically a weekly

943
00:47:27,640 --> 00:47:32,840
Speaker 1: class on everything from negotiating to buying real estate to wholesale,

944
00:47:32,920 --> 00:47:36,520
Speaker 1: to starting a business, to starting a nonprofit to I

945
00:47:36,520 --> 00:47:38,920
Speaker 1: mean literally we just had someone who came on. She

946
00:47:39,040 --> 00:47:41,919
Speaker 1: makes money doing voiceovers and so she came to teach

947
00:47:42,000 --> 00:47:43,360
Speaker 1: us how to do that. So every week we have

948
00:47:43,440 --> 00:47:46,360
Speaker 1: these amazing experts come in who are experts in their field,

949
00:47:46,600 --> 00:47:49,640
Speaker 1: teach these awesome classes about how they do what they

950
00:47:49,680 --> 00:47:51,319
Speaker 1: do and how you can't too, and then you get

951
00:47:51,360 --> 00:47:54,040
Speaker 1: to join this awesome group. Um right now it's on

952
00:47:54,120 --> 00:47:57,399
Speaker 1: it's our private Facebook group. There's about forty thousand, if

953
00:47:57,400 --> 00:48:01,640
Speaker 1: not more, members of the Literature Academy. So, because I

954
00:48:01,680 --> 00:48:04,120
Speaker 1: believe that we work best in community. So there's three

955
00:48:04,160 --> 00:48:07,120
Speaker 1: things that you need for success. Knowledge, which the Academy

956
00:48:07,160 --> 00:48:10,279
Speaker 1: provides because when you know better, you do better. Access.

957
00:48:10,480 --> 00:48:13,640
Speaker 1: You get access through folks. So I bring people who

958
00:48:13,719 --> 00:48:17,720
Speaker 1: normally charge to three dollars to basically donate their time,

959
00:48:18,200 --> 00:48:21,520
Speaker 1: and as a result, you get access to people who

960
00:48:21,800 --> 00:48:23,600
Speaker 1: you know you might not otherwise be able to afford

961
00:48:23,719 --> 00:48:27,359
Speaker 1: in their community. Right, you want to have accountability people

962
00:48:27,400 --> 00:48:28,960
Speaker 1: who are going to encourage and keep you going. So

963
00:48:29,000 --> 00:48:31,799
Speaker 1: if you're interested and join the Literature Academy, I've got

964
00:48:31,840 --> 00:48:34,560
Speaker 1: a forty percent off link. You can go to Literature

965
00:48:34,600 --> 00:48:36,960
Speaker 1: Academy dot com to learn more, but don't sign up

966
00:48:37,000 --> 00:48:39,360
Speaker 1: there because it's full price there. So The forty percent

967
00:48:39,400 --> 00:48:43,200
Speaker 1: off link is join l r A dot com. That's

968
00:48:43,440 --> 00:48:46,440
Speaker 1: j O I n l r A for Living Richer

969
00:48:46,480 --> 00:48:50,040
Speaker 1: Academy dot com and join our forty thousand members and

970
00:48:50,400 --> 00:48:52,640
Speaker 1: you know, learn to take your life and finances to

971
00:48:52,719 --> 00:48:55,560
Speaker 1: the next level. There you go, I mean, because think

972
00:48:55,600 --> 00:48:58,839
Speaker 1: about it ten years ago, sys te Tiffany, you know

973
00:48:59,120 --> 00:49:03,960
Speaker 1: what built this eight figure business? Not crazy from school

974
00:49:03,960 --> 00:49:05,680
Speaker 1: teacher that now, because that's what I said. Let me

975
00:49:05,719 --> 00:49:07,600
Speaker 1: tell you that I was just I just did alive

976
00:49:07,680 --> 00:49:09,279
Speaker 1: last night, like how did I go from here to here?

977
00:49:09,280 --> 00:49:13,080
Speaker 1: And you know what it was? Guidance. It's you need

978
00:49:13,080 --> 00:49:15,560
Speaker 1: mentor Coors. And so that's why that's why it's in

979
00:49:15,840 --> 00:49:18,400
Speaker 1: the academy on purpose that I'm not the only teacher.

980
00:49:18,440 --> 00:49:21,080
Speaker 1: I barely teach on purpose because I said, who helped

981
00:49:21,080 --> 00:49:24,200
Speaker 1: me get here? Oh Sandy, who helped me get so

982
00:49:24,280 --> 00:49:27,359
Speaker 1: I literally brought my guides with me to teach these

983
00:49:27,360 --> 00:49:29,200
Speaker 1: classes because I'm like, how did I get to seven

984
00:49:29,200 --> 00:49:32,239
Speaker 1: figures when I I lost my house, my condo and

985
00:49:32,280 --> 00:49:34,279
Speaker 1: I old two twenty on it. I had a credit

986
00:49:34,320 --> 00:49:36,840
Speaker 1: card debt of thirty five thousand, student loan debt fifty

987
00:49:37,400 --> 00:49:40,040
Speaker 1: I owed almost three hundred thousand dollars in debt. How

988
00:49:40,080 --> 00:49:42,040
Speaker 1: do you get there from ten years ago to a

989
00:49:42,160 --> 00:49:44,799
Speaker 1: seven figure net worth now in an eight figure a

990
00:49:44,880 --> 00:49:47,279
Speaker 1: year company? How with no debt? I don't have no debt.

991
00:49:47,320 --> 00:49:49,560
Speaker 1: I'm I'm debt free like my four year old nephew Roman,

992
00:49:49,960 --> 00:49:53,200
Speaker 1: Like I have two homes, no mortgage. My husband has

993
00:49:53,200 --> 00:49:55,520
Speaker 1: a car of a car, no cardinal how and it's

994
00:49:55,520 --> 00:49:58,000
Speaker 1: two guidance And I put that into the young into

995
00:49:58,040 --> 00:50:00,160
Speaker 1: the academy, I mean, and y'all have a I have

996
00:50:00,160 --> 00:50:03,840
Speaker 1: a podcast to me and my friend Mandy called Brown Ambitions. Yes,

997
00:50:04,239 --> 00:50:07,680
Speaker 1: so we talk about being black and brown women and

998
00:50:08,120 --> 00:50:10,279
Speaker 1: how do you manage your finances during times like this

999
00:50:10,440 --> 00:50:13,120
Speaker 1: especially but in your black and brown skins. Well, that's

1000
00:50:13,120 --> 00:50:15,920
Speaker 1: a financial tribe. That's ultimately why it was so important

1001
00:50:15,920 --> 00:50:20,319
Speaker 1: to to have you on and to continuously because of

1002
00:50:20,360 --> 00:50:24,719
Speaker 1: access Number one. I feel blessed that I know who

1003
00:50:24,760 --> 00:50:27,799
Speaker 1: you are, Tiffany, because now that I'm making money, and

1004
00:50:27,800 --> 00:50:29,520
Speaker 1: even when I was making a little bit of money,

1005
00:50:29,560 --> 00:50:32,120
Speaker 1: I could learn from someone how to make my little

1006
00:50:32,160 --> 00:50:34,400
Speaker 1: bit a lot. Because people think that you have to

1007
00:50:34,440 --> 00:50:36,680
Speaker 1: have a lot in order to make you know, you

1008
00:50:36,680 --> 00:50:39,359
Speaker 1: can have a little bit and build to ultimately live

1009
00:50:39,400 --> 00:50:41,640
Speaker 1: in abundance and we have to build from scratch because

1010
00:50:41,640 --> 00:50:44,760
Speaker 1: we were not afforded the luxuries of having anything passed

1011
00:50:44,760 --> 00:50:48,120
Speaker 1: on trust and you know, uh. And also, you don't

1012
00:50:48,160 --> 00:50:52,839
Speaker 1: have to have a super special talent dribble of basketball, dance, uh,

1013
00:50:53,040 --> 00:50:55,640
Speaker 1: sing wrap act. You don't have to have a special

1014
00:50:55,640 --> 00:50:58,120
Speaker 1: talent in order to live in abundance and be able

1015
00:50:58,120 --> 00:51:01,560
Speaker 1: to create wealth for your family. You're an example of that, definitely.

1016
00:51:01,600 --> 00:51:03,279
Speaker 1: I don't know how. I don't think you even know

1017
00:51:03,320 --> 00:51:07,279
Speaker 1: how much I appreciate you always coming up, always being

1018
00:51:07,320 --> 00:51:09,200
Speaker 1: always ready for us. I'm like, tif, you tired, and

1019
00:51:09,520 --> 00:51:13,320
Speaker 1: because we're back, No, I love it because to me,

1020
00:51:13,400 --> 00:51:16,560
Speaker 1: the more people I want our people to hear this message,

1021
00:51:17,040 --> 00:51:19,920
Speaker 1: I want them to know that you literally have everything

1022
00:51:20,000 --> 00:51:23,080
Speaker 1: you need and you to succeed. That is the voice

1023
00:51:23,080 --> 00:51:25,239
Speaker 1: that I heard inside me when I lost everything and

1024
00:51:25,239 --> 00:51:26,960
Speaker 1: I was like, yo, I don't even know what to do.

1025
00:51:27,239 --> 00:51:30,560
Speaker 1: It was Tiffany, you have everything inside you you need

1026
00:51:30,640 --> 00:51:33,000
Speaker 1: to succeed. I am good at one thing, and that's teaching.

1027
00:51:33,520 --> 00:51:36,080
Speaker 1: And I was able to take that and to flip

1028
00:51:36,080 --> 00:51:38,040
Speaker 1: it and flip it again and monetize it and flip

1029
00:51:38,040 --> 00:51:39,960
Speaker 1: it to your point of You don't have to know

1030
00:51:39,960 --> 00:51:42,560
Speaker 1: how to dribble a ball singer. Everyone is good at

1031
00:51:42,640 --> 00:51:45,560
Speaker 1: something that is your bank account. You can tap into

1032
00:51:45,600 --> 00:51:49,200
Speaker 1: that bank pool and withdraw money and then reinvest there.

1033
00:51:50,000 --> 00:51:53,080
Speaker 1: Make those deposits, baby, They're important. And I will tell you, Tiffany,

1034
00:51:53,160 --> 00:51:56,759
Speaker 1: since the first time we spoke, remember my theory was

1035
00:51:56,800 --> 00:52:00,879
Speaker 1: budgets for me to be broken. You don't longer. No

1036
00:52:00,960 --> 00:52:04,800
Speaker 1: longer do I feel that way? Ye talk about it. No,

1037
00:52:05,160 --> 00:52:08,320
Speaker 1: I'll give you, would give you your props. I'll definitely.

1038
00:52:08,560 --> 00:52:11,200
Speaker 1: She has definitely been a lot more cognizant of the

1039
00:52:11,239 --> 00:52:15,040
Speaker 1: money coming in, how it goes out. We've created multiple

1040
00:52:15,120 --> 00:52:17,480
Speaker 1: you know, I listened to you. We've created multiple fastest

1041
00:52:17,520 --> 00:52:20,680
Speaker 1: for income but also outcome. You know. So we have

1042
00:52:20,760 --> 00:52:23,759
Speaker 1: different we have different um we have different accounts. We

1043
00:52:23,800 --> 00:52:27,640
Speaker 1: have to diversify. You know. She puts certain money away

1044
00:52:27,680 --> 00:52:32,000
Speaker 1: immediately that she's not going to such a look at

1045
00:52:32,040 --> 00:52:34,200
Speaker 1: me like yeah, because I'm telling you at the end

1046
00:52:34,200 --> 00:52:36,200
Speaker 1: of the day, like you want to really be able

1047
00:52:36,280 --> 00:52:38,920
Speaker 1: to like ball for real, you know, but you want

1048
00:52:38,960 --> 00:52:40,480
Speaker 1: to be able to say, like yo, when I get

1049
00:52:40,480 --> 00:52:43,239
Speaker 1: a thing, I get a thing. Yes, you know, I

1050
00:52:43,280 --> 00:52:44,560
Speaker 1: don't have to I want to be able to like,

1051
00:52:44,600 --> 00:52:46,759
Speaker 1: if I want to get my mom diamond earrings, I'm like,

1052
00:52:47,239 --> 00:52:50,240
Speaker 1: it's nothing, they got it. I'm not swiping my card

1053
00:52:50,600 --> 00:52:52,279
Speaker 1: or if I am, I know it's because I'm putting

1054
00:52:52,280 --> 00:52:54,839
Speaker 1: the money right back, you know. So like I don't

1055
00:52:54,840 --> 00:52:57,600
Speaker 1: want to just look wealthy. I want to be wealthy.

1056
00:52:57,760 --> 00:53:00,800
Speaker 1: YEA yeah, I love that. Well, we are going to

1057
00:53:00,960 --> 00:53:03,759
Speaker 1: take a little break and move into our listener letter

1058
00:53:03,840 --> 00:53:06,200
Speaker 1: of the day, but we'll do that after we get

1059
00:53:06,200 --> 00:53:30,880
Speaker 1: into some ants. So stick around, and now it's time

1060
00:53:30,920 --> 00:53:34,000
Speaker 1: for my favorite part of the show because I love

1061
00:53:34,040 --> 00:53:39,040
Speaker 1: to hear from y'all listener letters and I'm nosy, low key,

1062
00:53:39,200 --> 00:53:41,120
Speaker 1: I don't want to know, like what y'all going through?

1063
00:53:41,160 --> 00:53:43,000
Speaker 1: What can I help? Can I be an assistance? Can

1064
00:53:43,040 --> 00:53:44,959
Speaker 1: I give my two cents? There you go, it's making

1065
00:53:44,960 --> 00:53:47,960
Speaker 1: a sense and money. Um. You know, we have Tiffany

1066
00:53:48,000 --> 00:53:50,440
Speaker 1: still on. She's gonna talk to us with these listen letters.

1067
00:53:50,440 --> 00:53:52,799
Speaker 1: Give her two cents as well. Um, But before we

1068
00:53:52,880 --> 00:53:55,520
Speaker 1: do that, we wanted to do really quickly, maybe like

1069
00:53:55,520 --> 00:53:59,239
Speaker 1: two or three takeaways Tiffany um of people who are

1070
00:53:59,280 --> 00:54:04,480
Speaker 1: now in this position where they're trying to rebuild. Um,

1071
00:54:04,520 --> 00:54:06,960
Speaker 1: and I just lost my question about what was my question? No? Well,

1072
00:54:06,960 --> 00:54:08,440
Speaker 1: I mean, first of all, I was supposed to ask.

1073
00:54:08,520 --> 00:54:11,680
Speaker 1: You were supposed to ask a question, my bad, questions bad.

1074
00:54:11,760 --> 00:54:14,719
Speaker 1: That's why I wasn't even because I wasn't supposed to

1075
00:54:14,760 --> 00:54:22,800
Speaker 1: ask that. Your scammer, you'll be trying to steal questions questions, Yes,

1076
00:54:23,520 --> 00:54:27,080
Speaker 1: that's questions, my bad, my bad. I was like, that

1077
00:54:27,160 --> 00:54:29,280
Speaker 1: was not my question. I got a different question ahead.

1078
00:54:29,520 --> 00:54:32,120
Speaker 1: The biggest thing that I think people want to know

1079
00:54:32,320 --> 00:54:34,920
Speaker 1: from Tiffany is you lost your job in the pandemic.

1080
00:54:35,760 --> 00:54:37,719
Speaker 1: You don't know what your savings looks like because you

1081
00:54:37,800 --> 00:54:41,759
Speaker 1: wasn't prepared. How do you begin to rebuild? Okay, right,

1082
00:54:42,040 --> 00:54:44,839
Speaker 1: that's the beginning. How do you begin to rebuild during

1083
00:54:44,840 --> 00:54:49,040
Speaker 1: this time? But one you first begin by hunkering down

1084
00:54:49,080 --> 00:54:51,840
Speaker 1: and get rid of non essential expenses like I mentioned before.

1085
00:54:52,400 --> 00:54:55,000
Speaker 1: Then too, you have to look for ways to make income.

1086
00:54:55,600 --> 00:54:59,120
Speaker 1: Is it that you're going to start looking for jobs? Like? Honestly?

1087
00:54:59,120 --> 00:55:01,399
Speaker 1: Facebook groups on my babe, Like a lot of times

1088
00:55:01,400 --> 00:55:03,960
Speaker 1: when I'm looking to hire someone, I will jump into

1089
00:55:04,280 --> 00:55:09,040
Speaker 1: um small business groups and I will jump in and say, hey,

1090
00:55:09,080 --> 00:55:12,480
Speaker 1: I'm looking for So if you join like a Facebook

1091
00:55:12,520 --> 00:55:15,080
Speaker 1: group with small business owners and entrepreneurs. It's a great

1092
00:55:15,120 --> 00:55:18,880
Speaker 1: space because so many times entrepreneurs are looking for digital folks.

1093
00:55:19,200 --> 00:55:23,560
Speaker 1: I'm looking for, um, a bookkeeper, I'm looking for an admin.

1094
00:55:23,719 --> 00:55:26,759
Speaker 1: I'm looking for so look to see what immediate ways

1095
00:55:26,800 --> 00:55:30,720
Speaker 1: can you start making money, especially digitally. My sister super

1096
00:55:30,760 --> 00:55:32,799
Speaker 1: smart engineer. But she's like, girl, I'll have no job

1097
00:55:32,880 --> 00:55:35,120
Speaker 1: right now. So what she did was she was like,

1098
00:55:35,160 --> 00:55:37,720
Speaker 1: you know what, I can be a consultant. Instantly register

1099
00:55:37,800 --> 00:55:40,680
Speaker 1: her business as an LLC. And now it's looking she

1100
00:55:40,920 --> 00:55:43,800
Speaker 1: is a black woman, I think, like what minority owned business,

1101
00:55:43,880 --> 00:55:46,719
Speaker 1: you know, and a small business? Right, So registered is that?

1102
00:55:47,200 --> 00:55:50,240
Speaker 1: And she found a contract for school that was looking

1103
00:55:50,280 --> 00:55:53,120
Speaker 1: for some sort of classes, types of classes to be taught.

1104
00:55:53,480 --> 00:55:55,759
Speaker 1: She's not a teacher. But what she did was then

1105
00:55:55,800 --> 00:55:58,320
Speaker 1: she went online found a curriculum that she could purchase.

1106
00:55:58,360 --> 00:56:00,480
Speaker 1: It was like, okay, hold up on that. And she

1107
00:56:00,560 --> 00:56:02,839
Speaker 1: found a young woman who's a teacher who said I'll

1108
00:56:02,840 --> 00:56:06,799
Speaker 1: teach it. So now she's writing the contract for a

1109
00:56:06,880 --> 00:56:09,160
Speaker 1: couple of you know, a couple of six figures, and

1110
00:56:09,200 --> 00:56:12,360
Speaker 1: it's gonna pay, Yes, it's gonna pay two thousand dollars

1111
00:56:12,400 --> 00:56:14,640
Speaker 1: for this for this um as soon as if she

1112
00:56:14,719 --> 00:56:17,040
Speaker 1: gets it, then she would pay two thousand dollars for

1113
00:56:17,200 --> 00:56:20,760
Speaker 1: the for the curriculum, right, and then she would likely

1114
00:56:20,800 --> 00:56:23,480
Speaker 1: pay that the young teacher maybe say like fifty thousand

1115
00:56:23,560 --> 00:56:25,640
Speaker 1: or who wouldn't want that, and then she could protect

1116
00:56:25,680 --> 00:56:27,640
Speaker 1: you keep on fifty for herself. But do you see

1117
00:56:27,640 --> 00:56:30,239
Speaker 1: how you have to you have to pivot now? How

1118
00:56:30,280 --> 00:56:33,319
Speaker 1: can I make money? What are things that I'm good

1119
00:56:33,320 --> 00:56:36,319
Speaker 1: at that I can then monetize? You know right now?

1120
00:56:36,640 --> 00:56:39,000
Speaker 1: You know, maybe it's tutoring. You know, you you went

1121
00:56:39,080 --> 00:56:41,879
Speaker 1: to school, You're an engineer, You're you were really good

1122
00:56:41,880 --> 00:56:44,160
Speaker 1: at math. People need two of these babies at home,

1123
00:56:44,160 --> 00:56:47,080
Speaker 1: don't know, they're not learning nothing to leave right now,

1124
00:56:47,160 --> 00:56:48,960
Speaker 1: you need to be racking your brain of how you

1125
00:56:49,000 --> 00:56:52,080
Speaker 1: can bring income into your house. And then once that happens,

1126
00:56:52,840 --> 00:56:55,000
Speaker 1: you know, so you're you're getting rid of the excess,

1127
00:56:55,480 --> 00:56:58,040
Speaker 1: figuring out how you can bring income into your house,

1128
00:56:58,320 --> 00:57:00,480
Speaker 1: and then stacking as much of it as possible. So

1129
00:57:00,680 --> 00:57:02,560
Speaker 1: those are the three things that I would be focused

1130
00:57:02,600 --> 00:57:06,000
Speaker 1: on right now. If I lost everything during during the

1131
00:57:06,080 --> 00:57:09,279
Speaker 1: pandemic and I was trying to regain my footing, I

1132
00:57:09,360 --> 00:57:11,319
Speaker 1: wrote all of those down. I'm going to reiterate those

1133
00:57:11,360 --> 00:57:13,040
Speaker 1: on my moment of truth. But I got you, so

1134
00:57:13,160 --> 00:57:15,920
Speaker 1: we got number one, get rid of non essential expenses.

1135
00:57:16,320 --> 00:57:18,840
Speaker 1: Number two, look for digital ways to make money, and

1136
00:57:18,920 --> 00:57:22,360
Speaker 1: number three save as much as possible. That's how you

1137
00:57:22,440 --> 00:57:24,880
Speaker 1: can start getting back on your feet. Ladies and gentlemen.

1138
00:57:25,360 --> 00:57:27,680
Speaker 1: You have to listen to these steps, whether you are

1139
00:57:27,800 --> 00:57:29,880
Speaker 1: making money or not making money, because even if you're

1140
00:57:29,920 --> 00:57:32,400
Speaker 1: making money, you can make more money by doing these

1141
00:57:32,480 --> 00:57:35,120
Speaker 1: three things right here and listen, y'all ain't going nowhere

1142
00:57:35,200 --> 00:57:37,080
Speaker 1: right now, or we shouldn't be, at least so spending

1143
00:57:37,080 --> 00:57:39,080
Speaker 1: the money that you would have on that outing or

1144
00:57:39,240 --> 00:57:42,920
Speaker 1: on that outfit or on the here style or whatever

1145
00:57:43,040 --> 00:57:44,600
Speaker 1: it was that you would have had to do because

1146
00:57:44,640 --> 00:57:47,880
Speaker 1: you were out there being entertained or entertaining people like

1147
00:57:48,000 --> 00:57:50,080
Speaker 1: now the time we're all at home. That's let's trying

1148
00:57:50,080 --> 00:57:51,840
Speaker 1: to make sure that we're just saving some money in

1149
00:57:51,880 --> 00:57:53,960
Speaker 1: the process. You know, we won't hem you up no

1150
00:57:54,120 --> 00:57:57,160
Speaker 1: longer than we had you know, as much as we

1151
00:57:57,240 --> 00:57:59,960
Speaker 1: love to keep you around and keep key and whatnot. Well,

1152
00:58:00,040 --> 00:58:02,400
Speaker 1: let you go, um so again, remember to find tiffany

1153
00:58:02,480 --> 00:58:05,280
Speaker 1: Alice the budget Nesta on all platforms right pretty much

1154
00:58:05,280 --> 00:58:09,760
Speaker 1: for the most part, awesome sounds appreciate you all right,

1155
00:58:09,840 --> 00:58:12,480
Speaker 1: thank you. If you'd like to be featured on dead

1156
00:58:12,520 --> 00:58:16,040
Speaker 1: As podcast as one of our listener letters, be sure

1157
00:58:16,200 --> 00:58:20,680
Speaker 1: to email us at dead ass Advice at gmail dot com.

1158
00:58:20,840 --> 00:58:24,320
Speaker 1: Spell it out for developer D A S S A,

1159
00:58:24,840 --> 00:58:30,320
Speaker 1: D V I C E dot com. I'm righty baby,

1160
00:58:30,880 --> 00:58:35,200
Speaker 1: moment of truths of truth time, This is my moment

1161
00:58:35,240 --> 00:58:41,760
Speaker 1: of truth. Okay. Um. During times of economic crisis is

1162
00:58:41,800 --> 00:58:45,360
Speaker 1: when the majority of the economic juggernauts you see today

1163
00:58:45,400 --> 00:58:49,680
Speaker 1: have been built. So let's be prepared as a people

1164
00:58:50,560 --> 00:58:54,760
Speaker 1: to capitalize on what's happening right now. Don't capitalize on

1165
00:58:54,840 --> 00:58:57,120
Speaker 1: the pain, because it's a lot of pain for people

1166
00:58:57,200 --> 00:58:59,680
Speaker 1: during this pandemic. But what we can do as a

1167
00:58:59,720 --> 00:59:05,240
Speaker 1: PEP is capitalized on these opportunities. Number One, pay yourself first.

1168
00:59:06,120 --> 00:59:11,240
Speaker 1: Your savings plan of your growth is ideal. Is that

1169
00:59:11,480 --> 00:59:17,560
Speaker 1: realistic for everybody? No, but it's ideal. Number Two, understand

1170
00:59:17,600 --> 00:59:20,320
Speaker 1: that your credit scores can be easily manipulated. With that

1171
00:59:20,440 --> 00:59:24,200
Speaker 1: being said, do not lose any sleep over not paying

1172
00:59:24,240 --> 00:59:26,720
Speaker 1: a bill on time that is not going to directly

1173
00:59:26,800 --> 00:59:30,760
Speaker 1: affect your health, your safety, and your wellness, especially your

1174
00:59:30,800 --> 00:59:33,680
Speaker 1: mental health, because these bill collectors will have you going

1175
00:59:33,760 --> 00:59:35,800
Speaker 1: crazy thinking that your whole life will come to an

1176
00:59:35,880 --> 00:59:37,800
Speaker 1: end if you do not pay them on time, when

1177
00:59:37,800 --> 00:59:40,000
Speaker 1: the truth of the matter is you can pay them

1178
00:59:40,000 --> 00:59:42,200
Speaker 1: when you're ready. Listen to what Tiffany said, get a

1179
00:59:42,280 --> 00:59:45,000
Speaker 1: cease and desist order so they stopped calling you and

1180
00:59:45,080 --> 00:59:50,280
Speaker 1: your family. Number three, use group economics. People call them

1181
00:59:50,320 --> 00:59:56,040
Speaker 1: sus suits. What use group economics If you need a

1182
00:59:56,120 --> 00:59:58,480
Speaker 1: large sum of money, get within the people in your

1183
00:59:58,520 --> 01:00:01,080
Speaker 1: group that you trust, the allop a susu where everyone

1184
01:00:01,120 --> 01:00:03,080
Speaker 1: pays into the susu. And if you need the lumps

1185
01:00:03,080 --> 01:00:04,760
Speaker 1: on the money at a certain time, you know that

1186
01:00:04,840 --> 01:00:06,600
Speaker 1: your take happens on a certain day, so you can

1187
01:00:06,640 --> 01:00:08,680
Speaker 1: get something paid. For example, if you have a child

1188
01:00:08,760 --> 01:00:10,680
Speaker 1: in college and you have to get that tuition paid

1189
01:00:10,760 --> 01:00:12,800
Speaker 1: on time. There are certain ways you can use group

1190
01:00:12,840 --> 01:00:15,200
Speaker 1: economics amongst the people around you so you don't have

1191
01:00:15,280 --> 01:00:17,760
Speaker 1: to borrow money from the bank, exactly, cutting out that middleman.

1192
01:00:18,960 --> 01:00:21,520
Speaker 1: There's no interest when you use book economics. There's no interests.

1193
01:00:21,520 --> 01:00:23,000
Speaker 1: You don't have to pay more than what you and

1194
01:00:23,040 --> 01:00:28,280
Speaker 1: do it with people you trust to the exactly number

1195
01:00:28,360 --> 01:00:31,640
Speaker 1: four moments moment. This is this is important. This is

1196
01:00:31,680 --> 01:00:33,400
Speaker 1: no I mean go ahead. But I love it because

1197
01:00:33,560 --> 01:00:36,360
Speaker 1: before we already said prioritize your health, because if you

1198
01:00:36,440 --> 01:00:38,040
Speaker 1: if you don't put your health first, when things do

1199
01:00:38,160 --> 01:00:39,800
Speaker 1: start to get on the upswing and you're not healthy,

1200
01:00:39,880 --> 01:00:42,000
Speaker 1: you can't perform. You can't even get a job because

1201
01:00:42,000 --> 01:00:44,720
Speaker 1: you're not healthy. So you must prioritize your health. That

1202
01:00:44,920 --> 01:00:46,960
Speaker 1: that ultimately goes with you know, knowing that your credit

1203
01:00:47,000 --> 01:00:50,480
Speaker 1: score could be manipulated. So not stressing over bullshit. But lastly,

1204
01:00:50,680 --> 01:00:53,960
Speaker 1: number five, avoid scams. There are a lot of people

1205
01:00:54,120 --> 01:00:57,520
Speaker 1: out here right now being scammed because they pray on

1206
01:00:57,600 --> 01:01:00,080
Speaker 1: the fact that people don't have jobs. So when you

1207
01:01:00,160 --> 01:01:02,000
Speaker 1: get your stimulus check or you get a little bit

1208
01:01:02,000 --> 01:01:05,080
Speaker 1: of extra money, don't look for the quick fix. Most

1209
01:01:05,120 --> 01:01:07,200
Speaker 1: of the times when you're emotional and you look for

1210
01:01:07,280 --> 01:01:10,400
Speaker 1: the quick fix, when people can take advantage. It's true.

1211
01:01:10,560 --> 01:01:13,080
Speaker 1: So understand these are the things you can do to

1212
01:01:13,480 --> 01:01:15,280
Speaker 1: get out of this rut that went right now, this

1213
01:01:15,400 --> 01:01:18,480
Speaker 1: economic rut um. Like Tiffany said, her three points was

1214
01:01:19,240 --> 01:01:22,160
Speaker 1: get rid of non essential expenses, look for digital ways

1215
01:01:22,200 --> 01:01:25,080
Speaker 1: to make money, and to save as much as possible. Please,

1216
01:01:25,120 --> 01:01:26,400
Speaker 1: I hope you had a pen on the paper and

1217
01:01:26,440 --> 01:01:28,240
Speaker 1: you wrote all of these things down and we can

1218
01:01:28,320 --> 01:01:30,600
Speaker 1: come out of this way better than we came in. Absolutely,

1219
01:01:30,640 --> 01:01:32,880
Speaker 1: And you know what, It's funny, your long moments of

1220
01:01:32,960 --> 01:01:35,040
Speaker 1: truth led me to my moment of truth, which was

1221
01:01:35,280 --> 01:01:38,400
Speaker 1: thank you. It's the perfect segue. We act like we

1222
01:01:38,520 --> 01:01:40,880
Speaker 1: did this before. Like you know, we're bouncing back and forth.

1223
01:01:44,080 --> 01:01:51,360
Speaker 1: You be trying to con swag wasn't good. But anyway,

1224
01:01:52,320 --> 01:01:55,480
Speaker 1: I would like to leave you all with this one question,

1225
01:01:55,880 --> 01:01:58,680
Speaker 1: and this is something that Tiffany started with. We know

1226
01:01:58,840 --> 01:02:02,000
Speaker 1: that the recession will probabill happen in another decade. We

1227
01:02:02,040 --> 01:02:03,960
Speaker 1: don't know how it's gonna happen, but it's gonna happen.

1228
01:02:04,760 --> 01:02:11,240
Speaker 1: Where will it meet? You? Ask yourself that where will

1229
01:02:11,600 --> 01:02:15,840
Speaker 1: it meet you? Because it's gonna happen. History has shown

1230
01:02:16,840 --> 01:02:20,560
Speaker 1: that it happens. So when it happens again, where will

1231
01:02:20,640 --> 01:02:24,720
Speaker 1: it meet you? Use this opportunity to cultivate, to do

1232
01:02:24,880 --> 01:02:29,440
Speaker 1: your research, to build your financial tribe of people who

1233
01:02:29,480 --> 01:02:31,880
Speaker 1: are assisting you in whatever way. And they may not

1234
01:02:31,920 --> 01:02:34,200
Speaker 1: be assisting you by giving you money, but they have

1235
01:02:34,400 --> 01:02:37,000
Speaker 1: a certain area of expertise within this whole financial realm

1236
01:02:37,040 --> 01:02:40,040
Speaker 1: that they can assist with build your financial tribe and

1237
01:02:40,320 --> 01:02:43,320
Speaker 1: figure out and know where you want this next recession

1238
01:02:43,400 --> 01:02:46,880
Speaker 1: to meet you, hopefully with more money in your budget

1239
01:02:46,960 --> 01:02:52,440
Speaker 1: than the noodle budget, the Roman noodle budget, the ramanlestening

1240
01:02:52,480 --> 01:02:55,920
Speaker 1: to that moment and truth. Oh thank you baby, I

1241
01:02:56,040 --> 01:02:59,520
Speaker 1: mean listen so anyway, be sure to follow us on

1242
01:02:59,680 --> 01:03:03,400
Speaker 1: social media please uh dead asked the podcast where you

1243
01:03:03,520 --> 01:03:05,920
Speaker 1: can you know, comment and share and let everybody know

1244
01:03:05,960 --> 01:03:08,560
Speaker 1: what's going on Instagram um and of course Cadine I

1245
01:03:08,720 --> 01:03:12,280
Speaker 1: am and I am devout And if you're listening when

1246
01:03:12,280 --> 01:03:16,720
Speaker 1: Apple podcasts, be shure to rate, review, and subscribe. Dead

1247
01:03:16,760 --> 01:03:23,959
Speaker 1: Ass Baby, dead Ass is a production of I Heart

1248
01:03:24,000 --> 01:03:27,200
Speaker 1: Media podcast Network and is produced by nor Opinion and

1249
01:03:27,400 --> 01:03:30,400
Speaker 1: Triple Follow the podcast on social media at dead as

1250
01:03:30,560 --> 01:03:32,160
Speaker 1: the Podcast and never miss a Thing