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Winning with money is not [music] just about making money. People, I think, know the basics of I need to pay my bills. Yeah, I should save a little bit. Outside of that, they really [music] don't know the strategy. And so, they're living paycheck to paycheck not because really they lack information, it's because they don't have the right strategy [music] that's basic and simple for them to understand. >> He is a personal finance expert, [music] a top podcaster, and best-selling author who went from homeless to becoming a net worth millionaire. Please welcome Anthony O'Neal. >> 48% [music] of individuals who make over $250,000 live in paycheck to paycheck. >> Come on. >> Really? >> Most common thing between everyone, someone [music] making $60,000 a year up to a million dollars, it's just the the amount of extra [music] debt they brought into their life. >> When you have seen yourself stretch and give [music] more to your church or charities, do you find that more money comes to you? >> You know what, Louis? I've never said this on a [music] on a on a show before, but you're my brother. I've been on here so many times. Uh >> So, why do you think so many people are actually living paycheck to paycheck in America right now? >> You know what, Louis? It's it's good good question to start off, man. Again, thanks for having me back on the show. Uh but, a a lot of people will say because people are living paycheck to paycheck because they don't know any better. And I actually say that's not the case. I'll say a lot of people live in paycheck to paycheck for two main reasons. One, the lack of information, and then two, the lack of systems and accountability. You see, wealth, in my opinion, winning with money is not just about making money. It's about, okay, if I give you a million dollars, and then I give this guy a million dollars, what's the difference between you two? It's simply the strategy that you put into place with that million dollars. So, people are getting a paycheck. People, I think, know the basics of, okay, I need to pay my bills. Okay, I should save a little bit. But, outside of that, they really don't know the strategy. And so, they're living paycheck to paycheck not because really they lack information, it's because they don't have the right strategy that's basic and simple for them to understand. >> is something you talk about in your book. You have this kind of five-step strategy to getting out of living paycheck to paycheck. And there's a new study that found that 39% of American workers say just living paycheck to paycheck would actually be an improvement to where they are right now in their life. If they were actually living to paycheck to paycheck, it would be an amazing thing for them. Most people are not even doing that cuz they're in so much debt and they're trying to borrow to constantly get out of debt and they're and they're just trapped and they feel stuck. >> Yes. >> So, you have these five phases to getting you know, getting out of this paycheck to paycheck lifestyle. In in phase one of the plan you teach is about stabilizing your finances first and casting a clear vision, a clear money vision of where you are going. But for a lot of people this feels overwhelming. >> Yeah. >> Like stabilizing feels overwhelming cuz they don't know how to do it. Getting clear on a money vision is hard because they can't even think far enough in the future. They don't even have enough money to think about next month. >> Mhm. >> So, how does someone start stabilizing their finances and cast a clear money vision for their life? >> Louis, let's go back to the word stabilizing because I think a lot of people when they hear that word they get a little uh frustrated, um a little overwhelmed, which is so confusing to me a little bit because uh stabilizing can save your life. Uh one of my good friends came home um one day and she's a ER doctor. And Louis, she said something to me and to the whole room that just it just woke me up. She said, "Man, every time someone comes into the ER doctor, they want to go from whatever their issue is to fix within a matter of an hour." To perfect health. Perfect health, right? So, she was like, "No, no, no. If you're coming in here, let's say for an example, she had a unfortunate this particular person had a gunshot wound. She said, "They wanted me to heal them within an hour." No, my first priority is get you stable, to get your heart beating at a stable rate on its own, to make sure that everything's good. Once I get you stable, then from there I can assess what needs to be fixed in you and how do we go from there, but it's not going to be done within an hour. So, the reason why I wrote phase one is to stabilize your financing and clearly the vision is we need to get your finances at a point where they're at least stable, to where you're not you're not creating any more holes, you're not creating any more issues in your life, you know, you're just getting stable. How do you get stable? The very first thing I talk about in the book is go ahead and set aside at least 1 month of your net pay, right? I used to teach back in the days, you know, this little save $1,000, right? Well, we're in 2026. $1,000 in today's day and time is not going to keep you stable, right? It it won't even get you four brand new tires on the car. I want you to have at least 1 month of your net pay. Here's why. If something in life happens to you today, studies show that we tend to operate off of two sides of our brain, our fast brain or our slow brain, right? And so, if you only have a $1,000 but you have a $5,000 issue, you're going to operate off of your fast brain. When you operate off of your fast side of your brain, you're going to make the wrong decisions. >> Mhm. >> So, if you have at least 30 days in your account and life happens, you're going to operate off of the slow side of your brain. It's okay, wait, I can cover this. I can pay my rent. I can pay my mortgage. I can still send my kids to school. I can still get my hair done. When we're in our slow side of our brain and we're in our comfort zone, right, with a little bit of tension, we'll make better calculated decisions. >> Mhm. >> And I believe that that's where I want you to go. It's be stable. And then for me to get out of phase one, it's like you said in the very beginning, it's get it's it's have a clear vision. >> What would you say is the difference between someone who has a clear money vision >> Yeah. >> and someone who doesn't have a clear money vision? Oh, it's clear. If I walk up to you and say, "Hey, where are you going within the next year with your finances? What are you doing this year? Okay, where what where in this this month of 2026?" Um, if you can't tell me what you're going to do for the rest of this year, you don't have a clear money vision. >> What does their life typically look like compared to someone who is clear? >> There's no stability. Uh, there's no consistency. Uh, we can see you all over the place with your finances. You see, with me, I can tell you right now what I'm doing for the rest of this year with my finances. I I want to purchase a home. When I purchase a home, I want to remodel the home. If if anything that comes into that does not align with that, it just doesn't flow into my budget. >> Mhm. >> Even in this new season of me right now with uh certain things going on around my life, it's like, "Wait a minute, if it doesn't align with this vision for my money, I just can't do it." And sometimes, if I'm saying no to something, I'm saying yes to something else. So, if I'm saying no to this thing over here, it's not a permanent no, but I'm now giving myself even more permission to stick to my money vision. >> Yes. >> And I think that's very very very important. The reason why a lot of people are still living paycheck to paycheck is because we haven't set the time to sit down and say, "You know what? I'm going to pay off my consumer debt this this month. I'm going to go after this $5,000 on the credit card for the next 6 months. Hey, you know what? I just had a baby. I just had twins. >> Congratulations. >> Thank you. And I want to have a 529 set up for both of my kids. >> Set them up. >> That's a vision. >> Mhm. >> Here's what I believe. We have a lot of people who are dreaming, but they don't they don't have vision. And the vi- the difference the between a vision and a dream is is it written down and is action behind it. >> Mhm. >> So, we have a lot of dreamers, but we do not have a lot of visionaries. And a lot of people who are struggling with finances are dreamers. They're like, "One day I'mma have this, and one day I'mma do this." But, when you start getting right with your money, it's because you have a vision with the execution strategy, and it's written down. >> Yeah, and you have the systems in place where you automate things. >> Yes, sir. >> When it's automated, it's it's automatic, and it's more automatically going to happen >> Come on now. >> because you're not thinking about, "Oh, I need to put this money in here. I need to do this next month or in 6 months." You're sticking to the clear vision. You're automating it with a system, and years pass, and your goals just are accomplished because of the systems. But you got to get the information first. So, phase two is actually eliminating all consumer debt. And again, 39% of American workers today >> Yeah. >> say that just living paycheck to paycheck would actually be an improvement in their life right now. >> A lot >> lot of it is cuz people are in a lot of consumer debt. >> Yes. >> And this whole, I guess, buy now, pay later for like everything, for like everything. >> Yeah. >> I get it if you're in a bind, and you have to do that in an emergency. >> Yeah. >> If you're not stable. >> Yeah, yeah. >> But that shouldn't be a regular monthly, yearly thing. That should be a once in a blue once a year, maybe, at the beginning of your your season of earning money. >> Facts. >> Not, "Oh, I'm 5 years in my career, and I've blown all my money." >> Yeah. >> And now I got to use this buy now, pay later method. Like, for me, that doesn't make sense. >> No, let's go deeper, Louis. 48% of individuals who make over $250,000 are living paycheck to paycheck. >> Come on. Come on. No way. Really? >> Yeah. >> Wow. >> I think it was a And don't quote me on this one. It's not in the book, but I was just reading a study just the other day. Nearly 30% of millionaires are living paycheck to paycheck. >> That's crazy to me. >> And to me, what what I'm seeing here is when I really do all this research, and I and I'm studying, okay, what's happening, the most common thing between everyone, someone making $60,000 a year up to a million dollars, it's just the the amount of extra debt they brought into their life. Now listen, I I I believe that 95% of the people in America today cannot handle consumer debt. Let's Let's be real. >> What does that mean they can't handle it? >> I think that there's 5% of people who can take that, leverage that debt to build wealth. >> Yeah, to buy assets. >> To buy assets. >> Yeah, yeah. >> Right? Um Anthony O'Neal, I do well financially. I still don't borrow consumer debt. I I I won't borrow money. I I won't do things um I do have an American Express now that I pay off every single Monday. >> Yeah. >> Uh but I do believe that the majority of American people cannot borrow money and use it to seriously buy assets and those assets are paying off the consumer debt. >> Mhm. >> And so what we're seeing here is that people we are borrowing money. There's two types of people in this year. And I and I have to be honest. There are certain people who unfortunately last year we had over 300,000 people lose their jobs. >> Wow. >> So I do believe that those There are certain people out there who are borrowing money because they needed to survive. I have sympathy for them. But let's also be honest. There's a lot of people who are buying things that they do not need. >> Why do you think so many people overspend and overconsume when they don't have the money? >> I just think because it's like man we we are impatient people. And I'mma put on myself. What I was that guy. >> Here in LA? >> [laughter] >> You know, I'm sitting here borrowing money. Man, I was driving a 1987 Nissan Maxima that could not go in reverse. And I borrowed money to put two 12s in the back of the of the trunk with a 1,000 W amp. I didn't need that, Louis. >> No. >> I I >> Sounded cool though. >> Yeah, exactly. >> It sounded cool. >> It sounded cool. Everyone was doing it. I remember uh man I went viral. It was a few years ago. I was living in Nashville. And uh man I I I had the money, right? I went out there and bought me a $3,000 Gucci backpack during COVID. And I I And I got the backpack, came home. I was like, "Why did you buy this backpack? YOU AIN'T GOING NOWHERE." >> [laughter] >> LIKE YOU >> HANGING UP IN YOUR HOME? YEAH, YEAH. >> LIKE it's like you're NOT YOU YOU'RE NOT TRAVELING. Airports are shut down. And I'm like, "Why did I buy it?" And I had to be honest with myself. I bought it because everyone else had one. Everyone had a Gucci bag or a Louis Vuitton bag. And so my philosophy now is, man, if I can't afford to pay for it twice and pay for it cash, I just won't buy it. And then if it's over $500, I think about it for 48 hours. >> Mhm. >> Period. And at the end of the 48 hours, if I have not committed to I'm going to get that for me, not for so Louis can see me in it, not so I can post it on social media. I mean, did you know Louis and I And tell me to be quiet. I mean, this is your show. I I just love to talk. But did you know that 58% of vacations are purchased on the quality of the Instagram pictures that people can post online? So they would swipe their credit card to go to a destination that they really don't want to go to. They just want to go there because it looks good on the 'gram. >> To get the photo. >> Just to get the photo, just to get the TikTok reels. So we're financing a lifestyle, but we're not disciplined to change our finances around so our life can be different. >> Mhm. >> And so for me, man, I I I want people to get out of consumer debt because I really do believe that if we really are honest with ourselves, we're getting up Monday, Tuesday, Wednesday, Thursday, Friday, Saturday, sometimes even Sunday. The majority of people are working two jobs to get their paycheck on Friday to pay back this particular bank, to pay back that particular company. Check this out. Come back home Monday and the families get the leftovers of their paycheck. And then it goes back to the 39% By the end of that week they're broke and they're trying to figure out how do we get to the next Friday for payday. And for me, you got to get sick and tired of where you currently are. >> Yes. >> Because that is frustrating to get up every single day to go pay back someone else. And let's just be honest, if you really I don't want to name the banks on your on your show, but there are several banks that are named after families. So you're you're borrowing money from this particular family, you're paying them back interest so that their great great grandchildren can go to school debt-free and build wealth while your children at home are struggling trying to figure out Mom, Dad, I need some new school shoes. Mom, Dad, I want to go and be a part of this soccer camp, but you pay somebody else's family to do it and we haven't done anything for our family. >> What do you think the psychological wound is that causes so many people to overspend then when they don't have the money? Is it just oh, I want to feel like I fit in or belong or I look good or a certain you know, why overspend when we don't have the money psychologically? >> Man, I was talking to a guy and I asked him that same question and uh he's a little bit older than me. And he grew up more so specifically in in African-American space. He grew up right around when when slavery was not slavery when racism was a little bit more live out there. And he said, "Anthony, the reason why I finance things and the reason why I go out there and spend my check is because I've earned it." He was like, "Back then I couldn't do certain things. Now, I want to go buy a suit. I want to go, you know, step out here and have a good time because I've earned it." And I said, "I agree that you've earned it, but at what cost to you have you earned it?" >> What's the price you have to pay? >> Exactly. You know, so you're not you're not leaving your kids any any income. You're not leaving your kids any any wealth. Uh there's a a study and I I I forgot the numbers, but it it it says this particular number leaves your children's bills and benefits and the benefits as far as an um insurance benefits are only enough to take care of partial of the bills, not all of it. But we'll leave we'll leave behind a Mercedes-Benz, a Chanel purse, a Louboutin purse, a Gucci backpack, some shoes, but none of that is transferable. None of that is going to really help set the next generation up to win. And that is why that book is so important to me because if we can really get control of our consumer debt, if we can stop financing someone else's lifestyle, and I firmly do believe that before you even get um another credit card, you need to be consumer debt free for at least 24 months. Build the habit of using your your cash, build the discipline, so that when you get back into it, yes, if you have an Amex card, okay, now you're paying it off every month, you're not paying any interest. It's your money, and now you're getting the rewards or the points and stuff like that, which is absolutely amazing. But I still would not go for points. Just so I can have a credit card, just so I can buy things if I can't afford to buy. >> You're pretty deep in the the spiritual faith world as well. >> Yes, sir. >> From your experience in the communities that you're in, >> Yeah. >> do people who have a faith-based practice, are they more prone to getting out of consumer debt earlier and investing in their future by by saving and spending less? Or do you also see people in faith and spiritual communities getting in extreme consumer debt, living paycheck to paycheck as well, whether they're financially less off or financially more off? >> You know, man, [clears throat] I think in the faith world, they're still human beings. >> Mhm. >> So, with me being a a strong Christian, um I can say this respectfully, no, they're not trying to get out of consumer debt quickly. They're still human beings. I mean, not they, we are still human beings. >> [laughter] >> Right? So, we still have our personal desires. What I do see uh prevalent within the Christian world is we are strong in the faith and giving. And so yes, tithing and giving and generosity. So I do believe that the spiritual element that what I believe in is that because we are generous, because we are tithing, and because we do operate off of faith, there is a level of blessing that comes with that. But then too, also I can say this as well, I do feel as if sometimes within the Christian world we go a little bit too far into that and we get away from the practical. So we'll give our church, you know, our light money. I totally disagree with that. No, give your tithe and offerings, but go pay your light bill. Right? Give your tithe and offerings, but go pay your rent, go pay your mortgage. But do not >> Don't do that at the expense of putting yourself more into the hole. >> Right. And there are certain organizations and and and leaders within all organizations of the spiritual realm that will say, "Hey, trust God. Give them your last." And I will sit there on the front row and be like, "Yeah, I'm not giving you my last." I'll give you what I can give you and even stretch a little bit, but my first ministry, my responsibility, is to make sure that my home is good. >> Yeah, put your mask on first. Got to. Oxygen mask. Got to. Don't starve of oxygen, you know, and then say, "Someone help me." >> Facts. >> You know what I mean? You got to take care of yourself. >> Yeah, yeah, no, I'm taking care of myself, I'm taking care of home, but I'm also going to take care of my church, man. You know, and I one of my goals is is to be within the top 1% of the givers within my local church. I love what my church and what my pastor is doing and I'm very strong on that in my church. I do believe that generosity and tithing is a secret is a secret investment that a lot of people do not invest in. So I teach give and that's one of my phases. I teach the whole invest, but I really do believe the number one investment you can make is in tithe and offerings. >> Really? >> For sure. >> The School of Greatness is brought to you in partnership with Airbnb. And one of the things that I love the most about traveling is when a place surprises you in a way that you didn't plan for. You go for the event, you go for the dinner, the meeting, or whatever it is, but what you remember is the conversation with someone local, the neighborhood you didn't expect to fall in love with, the feeling of experiencing the rhythm in the music and the passion of the place instead of just passing through it. And that's part of why I list a space on Airbnb. I love the idea that someone can come into a city and feel more connected to the local culture. Not just check a box and move on, but actually feel a place just a little bit more. And the income from it can help fund the next adventure, can go towards a home refresh, or just create a little more breathing room in your life. So, the next time a big event comes to your area, your space might be a part of someone else's trip in a really memorable way. Your home might be worth more than you think. Find out how much at airbnb.com/host. >> When you have seen yourself stretch and give more to your church or charities or causes you believe in, do you find that more money comes to you? >> You know what, Louis? I've never said this on a on a on a show before, but you my brother. I've been on here so many times. Um I had to be very unique with how I uh maneuvered the first 3 years of starting my business. I had to be very unique. Hopefully I can say Hopefully I'm saying that correctly. Hopefully you're picking up what I'm >> Sure. >> And I told God I said, "God, I'm still going to give you my tithe and beyond." I gave him 12%. Spiritually speaking, should have gave him 10% per the Bible. But I gave him 12%. I said, "Because Because God, I need you to figure out a way to get me through these next 3 years." >> Wow. >> And Louis, I I gave 12% tithes and offerings. I was even within my organization every every time someone gave us money on our YouTube channel like as a super chat or something like that, we gave all that money to single mothers. So, Anthony O'Neal nor my company profited that money. So, I think within my first year of business, man, we probably gave away a little over $100,000. Second year we gave away a little over a quarter million. Louis, I've never gone down a year. >> No. >> I've always gone up. And I do believe that is because God knows that hey, in this area of life, I can trust you. You're going to be a good steward of your finances. >> is. >> And it's not even just spiritually. It's like man, I give to uh my my fraternity. Um I give to other nonprofits. Um I've given to other churches. I've given to people just because I just felt need. Like I had a um a friend went through something with his particular family. Gave that particular friend $10,000. Here you go. I know, what's this for? No, no, no. I just want to be a blessing. Because I firmly do believe that while God asked for 10% back, the other 90% of the money he's allowed me to keep is still not mine. He just calls me to steward it well. So, if I want to make $20 million a year, I need to show God that yo, if you give me 20 million, I'm not going to be selfish. I'm going to be a blessing to others. I'm going to be a blessing to my church and to my community. If if Louis is doing something that's a great cause, man, I'm going to sow into Louis' great cause that's impacting the world. Because I want to make sure that I'm not a selfish guy with my money and that God can trust me a little more. >> Why do you think God allows bad people to have a lot of money? Some bad people. >> I mean, I I believe that God gives us a choice. You know, he he gives us free will. Um I do believe that just because God allows you to have a lot of money doesn't mean internally you are prosperous. >> Yeah, you're not rich. >> You're not rich. >> Yeah. >> Right? And so, I would rather have $5 million and be rich internally than have $20 million and be miserable and just literally going through, you know what, internally, right? And so, I used to always ask myself that. Well, God, well, why does he out there doing a b c d e f g and he making way more money than me? He said, "Yeah, but you're sleeping with at peace." >> Mhm. >> You know, you you you you can walk down the street and not have to have 10 people watching your back. >> Right. >> You know? >> [laughter] >> He was like, "Just because you see someone living well within, quote unquote, your version of well in my permissive will, Anthony, you're living perfect within my perfect will for your life." >> Mhm. >> And so, I'm really I'm always just saying, "Okay, what? Stop looking at other people's platforms and what they have. Just focus on where God has you." >> Yes. >> And I and and I have to be okay with that. And trust me, I I'm human. I wake up every single day. I get on Instagram every single day. Like, "God, I could do I could do that much better." Right? And then God convicts me. He was like, "It's not about better. It's not about more. It's about who are you called to? Who are you helping?" >> Mhm. >> Focus on that. >> Yeah. >> And Louis, man, I mean, when I really sit back and think about it, there is nothing that I want right now that I don't have. >> Mhm. >> I bought my state home. I got real estate. I have an amazing portfolio. I'm driving my dream car. I'm on the Louis Howes Show. You know what I'm saying? Like, I have an amazing company with an amazing staff and team. There's nothing that I want. Like, for my birthday this year, man, I'm I'm I'm going to Greece on a private yacht. So, it's like, yeah, I'm not I may not make as much money as them, but I'm living the life that I want. Man, my dad told me this years ago, Louis. And I try not to get emotional when I say it because as I'm getting older I'm I've noticed that man things in my life change and now I get even more what my dad said. We were playing golf on a Tuesday afternoon at 1:00 in the afternoon. My dad's in his 60s and he he stops. I just we just hit off the tee box and in the middle of us going to our balls he stops. I said, "Dad, you all right?" And he said, "Son, I'm wealthy." I looked at my dad. I said, "Dad, I know how much money you made, man. You you you ain't wealthy." >> [laughter] >> You know, you you you got a good retirement check from the army. Thank you for your service. But I still think in my head. I said, "Why you say that, Pops?" He was like, "It's 1:00 in the afternoon. I'm playing golf with my son and I don't have to go to work tomorrow. I don't have to clock in and I don't have to be worried about how I'm going to pay my bills. Like I can do what I want to do when I want to do it with whomever I want. When I leave you he was like, "Boy, go out and see a movie so I can you know have a conversation with your mama tonight." Like it just felt good and and I was like, "Huh?" He said, "So yeah, I may not have as much money as you, but I'm wealthy." And that stood out to me that wealth is not just about money, but it's also about freedom. And I think a lot of people get it confused that you need to make a million dollars to have freedom. No, no, no, no, no. You can have freedom off of $50,000. You just got to know the right strategy and the right system to put into place. And from 50,000 to 60,000 to whatever that is, you can have freedom and that's that's where I'm at is I have freedom. >> Yeah, there's actually a lot of wealthy people who aren't free. Facts. They have all the money in the world but they are struggling. Now, there are also wealthy people who are free. >> Yes, sir. Yes, sir. >> You know what I mean? That's that can they do what they want to do. They say what they want to say. They're around the people they want to do. So, I'm not saying having money makes you trapped, but there are a lot of people that are have a lot of money and hey they have a lot more stress or responsibilities that they don't know how to navigate emotionally or mentally. And therefore just causes more problems for them. I'm not saying everyone, but I'm saying there are people and if you don't understand how to navigate money and how much expense things cost having money. Like when you have money, things cost more. >> Yes, sir. >> Even if you don't buy a lot more stuff, there's just fees and expenses and taxes and you know you know which [laughter] I can your head because you know the pain of paying taxes on the money the hard earned money you make and just seeing multiple six figures, seven figures gone. >> Gone. >> And you're like, I just spent six months of my life to give this much money to the government or to the state or to whoever. >> Yes. >> And you have to navigate that in your mind. >> to. >> I spent how much sleepless nights, how much effort, how much work building something where almost half of it goes to a government that I don't know where the money's going to and if they're putting if they're stewarding it, there's a 100% chance that they're not stewarding it 100% well. >> Facts. >> And so you have to live with that. >> Yep. >> And you get to live It's a blessing to live with that, but if you don't know how to navigate that first few years for me I was angry. >> Oh, yeah. >> When I started making more money and I was like, man, half of my year is just goes towards paying the government. >> Yes. >> And then paying for this fee and then paying for this tax and then just housing the money somewhere costs money. You're just like, what? >> Yes. >> Where's all my money going? >> There's a cost everything. >> Everything, man. It's like, where'd all the money go? >> Right. Right. >> No man. >> And so it it's learning how to navigate the levels of money that come to you and and it Listen, it's hard when I don't know I was broke on my sister's couch, that was hard. >> Yeah. >> It was hard having no money and not being able to mentally, emotionally, spiritually pay for things and navigating that. >> That's it. >> It was hard paying my first rent, $400 a month. >> Oh. >> I was like, where am I going to get the money to pay for this rent month after month? That was hard. >> Yeah. >> There's different levels, right? And learning how to navigate it. That's why I wanted to talk about what does it mean to be a good steward of money? And how do we know we've graduated spiritually, emotionally, psychologically with the amount of money we have that we're ready for next levels of wealth. If I was to sit down with someone and someone asked me, am I a good steward with money? My answers will be based around this. Can you tell me where you are financially? That lets know you're a good steward, because if you don't know where you are financially, then you can never get better. So, do you know I suck with money in this area. Or do you know, I actually do pretty good with money in this area. So, I know my strengths when it comes to money and I know my my weaknesses when it comes to money. But, I also Louis can tell you the last time I spent a dollar and 50 cents. Because I'm tracking every single thing that I spend. Now, that's just me because I'm in the money space. I don't know if someone needs to track every single dollar the way that I do, but it's like for me, I can tell you if I spend 55 cents. Because that's just how how I am, cuz I'm very anal about getting to my goal and and I know every dollar, every penny that it can get me closer or it can take me away. So, for me, how you know you're getting really good with finances is number one, do you have a solid, clear vision that is aligned with a good budget? Then from there is what is the system and strategy that you're following. >> Mhm. >> I've never met a millionaire who said, I woke up the next day and I made a million dollars. And then I just I have no system or strategy. I just I just I just make money. Every person and when I say this every net worth millionaire, when I say net worth I'm talking about someone who may make $80,000 a year, but they have a portfolio of a million dollars. They follow some strategy to get there. Whether that's a 401k strategy combined with the IRA strategy combined with a couple of index fund strategy combined with you know, real estate strategy. No matter what it is, everyone follows a strategy. And then you know you need to upgrade is when they start when you can look at your income and feel like, "Hey, you know what? This is too much for me to manage." So for example, when it comes to me, man I I I still you've graduated. I I haven't graduated yet. I still get upset >> [laughter] >> when I have to cut. >> I get upset for a couple days, but then I'm like, "Okay, you know it's not a but it used to be months. Months. I'd hold on to like, "I can't believe I just all the money I had saved in my bank gone." >> Gone. >> Down to zero. It's like, "How is that even possible?" >> But you know what I did you know what I started doing a few about five years ago? It was I hired a CPA firm that in the first three months of the year they go through a tax strategy. So now I'm only upset like you for a week. Because I know what's coming, right? And I think that's also good stewardship because we also know that the tax laws are not written for the average person. It's written for, you know, the person who are making the entrepreneur, the small business owner. So it's like now that's also a level of good stewardship. Do you have a tax strategist who can sit down with you and help you come up with a game plan on how to pay the IRS less legally, ethically, morally, and for me spiritually. To where I'm not doing anything wrong. I'm doing it all for those correctly to where my tax bill may go from 48% down to maybe maybe 32 28%, but legally, ethically, morally, and spiritually. And so I love that because now when I have my tax strategy meetings, are you hiring anybody? Are you buying any real estate? Are you buying any new equipment? How much do you project to make this year? They ask me so many different questions and then we sit down and say, "Okay, this is the strategy on how to move forward for the rest of 2026." That's good stewardship because if I can keep some of that money from the IRS and maybe donate that to other single mothers. We're starting a brand new school in Ghana after in Accra, Ghana. So we were able to save some of that money and use that money to go towards the school. >> I've been to Accra. >> Oh, you have? >> I built a school in Ghana as well. Yeah, yeah, yeah. It's cool there. It's cool. It's a different world, man. >> It is. It is. I mean, I love it. >> I stood out for sure. >> [laughter] >> Great, greatest place. >> Yes, sir. >> it. Good energy there. >> Yeah. >> And so phase three we're talking about in the book you talk about building a savings cushion of at least three to six months take-home pay, which is something you've already mentioned before. And a lot of people think that that is impossible on the amount of income that they currently make. I'm like, "How am I going to get three to six months?" But what is the mindset shift that someone has to take or make before that can that can follow? Or the habit they have to change before that can follow? >> No, it's not difficult at all. When people tell me it's difficult to set aside three to six months of your income, let me see your lifestyle. How much car do you have? >> Yeah. You don't need two cars. Yeah, get rid of one of them. And you don't need to ride a bike for a year. >> You don't need the $50,000 car that you purchased. >> All right, now. Get a used car. >> Get a used car. >> When I moved to LA, I had I kid you not, man, and I was a millionaire when I moved to LA. When I moved to LA, I bought a $5,000 used car and I wrote it for five years. >> Wow. >> I did not need I didn't have radio Now, this was probably too extreme. I didn't have radio, I didn't have Bluetooth. >> Too extreme. >> Yeah, but I was comfortable in it. It got me from A to B. >> Yeah. >> It was reliable. It just didn't need it wasn't new and it was okay And I was fine with it. It was a 19 It was 1997 Cadillac Eldorado Biarritz two-door. >> Two-door. >> And it was cool, man. I was like, all right, this is nice. Like, it felt like grandpa car, you know, the the bucket seats. And I was like, all right, cool. No radio, no AC did stop working after 6 months. So, I'm like, windows down, you know, I'm rolling windows down, all these things. But, the engine worked. >> It works. >> It got me around. And I didn't need to be in something so nice or brand new for those first 5 years. I was more I I I cared more about investing my money, saving my money, reinvesting in my business to help my money work for me. >> Yes. >> And so, now I have a new car and it's fine, but it's It was more for a tax write-off. >> Yes. >> It was like, okay, what can I do to buy a car to benefit my business as a tax write-off. >> But, 5 years, I didn't need anything fancy. And I paid it off right away, 5 grand. And I drove it for 5 years, 1,000 bucks a year. >> Yeah. >> Except for gas. >> But, how much money did you save yourself? That's the question >> money did I save? >> Oh, yeah. >> I don't know. If I would have bought a new car for 50 to 100 grand, I saved a lot of money. And the insurance was cheaper and all these different things. So, saved a lot of money. >> I I believe that the greatest enemy to our financial success is our excuses. >> Mhm. >> That if we keep saying I can't, I can't, I can't, what you're saying you can't to, you're you're doing it somewhere else that is not valuable. >> Mhm. >> And so, I I I know the same way as you, man. My friends, they used to crack jokes on me cuz, you know, they'll come over to my house, "Man, this is not a house that AO should be living in." I'm like, "Well, what's the house I should be living in?" Like, I literally just moved into probably the house, quote-unquote, they say I should have been living in just a few weeks ago. But, the average house I was I was living in in a normal family home. And I'm like, man, I have goals. I have dreams. I I want to be 50 years old and I still have to be on YouTube teaching. I don't want to do that. I want to be in a position to where my money is creating more time for me to do the things that I love to do with the people I love to do. >> Mhm. >> So, when I do get married, when I do settle down and have kids, my money is paying all of the bills, not my time. And so, if I don't come up with the right system in place and live way below my means, >> Yes. >> Right? And I think this is where a lot of people can get confused. People think they'll stop living paycheck to paycheck to make more money. >> Mhm. >> You will stop living paycheck to paycheck and make more money when you have margin. >> Yes. >> Margin is your number one wealth building tool. Margin is your number one tool of getting out of paycheck to paycheck. If your income is up here, your expenses need to be down here. In between that's your margin, and that's what you play with to pay off your consumer debt. That's what you play with to invest more, to put money into real estate, to invest into your kids' future, to buy businesses, to buy stocks, whatever you want to do, but if you have no margin, you'll never get out of the trap. >> Yeah. When I was my first when I was living in Columbus, Ohio, and I had my first apartment, when I I was on my sister's couch for a year and a half living rent-free. And then I paid 250 a month for a room in my brother's house. Wow. For about 6 to 7 months. And then I finally moved out and I and I think it was paying I can't remember it was 400 or 495, but it was in the 400 range for an apartment. And after the business that I had a business partner at that time, we did over a million dollars in sales, maybe a year and a half after this, right? >> Okay. >> And I was still living in this apartment. It was under $500 a month. At that time, I had no car, so I was walking around everywhere. >> Okay. >> I had no TV. And I was just focused, and I was just stacking and saving and investing the money. >> Yeah. >> And this is what you talk about in phase four is in investing with confidence. So, your money starts working harder than you do. >> Yeah. >> And a lot of people feel like investing is for people that are rich or that are wealthy or that they are, you know, at a different level of financial success. And and people who already have it figured out or they know money better than me. What does someone who is just getting started actually need to know to invest without feeling fear? >> Man, the very first thing is that you can invest with $5 into a fractional share. Do not focus on the amount. Focus on starting the habit. >> Let's go. >> That's it. >> Consistency, man. The system, the habit. >> The system and the habit. That's what I told everybody. Oh, I don't have a whole lot of money to invest. That's not the problem. The problem is you haven't even created the habit. >> Mhm. >> You you you you haven't even just started. Just put $5 into a brokerage account. And then when you paid again, put $5 into a brokerage account. And I promise you by this time next year, you will be putting more than $5 in. >> Oh, yeah. You'll be like, oh, that make me money. >> You know what I'm saying? And so, that's what I told everyone. It's like, man, investing is not for the rich. The investing is for people who have access. >> Mhm. >> And for me, man, I think there's there's In my book, I talk about, man, you got to invest anywhere between 15 to 25% of your income every single month. The first 10% is if you are a in a Christian faith community, I think that is the best investment we can ever make. 10% into the local church. A lot of people say, well, why do I want to give to the church? So, the pastor can go buy a car or so the pastor can go buy a house and da da da. I don't care about none of that. I believe that my word of God it says, "Hey, give." Right? I'm I'm just going to give. Now, if I know for a fact that it's going to the wrong place, then I'm leaving the church. >> Yeah. Go somewhere else. >> I'm going to go somewhere else. But until then, I'm going to do. That's my very first investment. Because now what I'm saying God is I trust you more than I trust myself. Then after that, I'm putting 15% into an investment portfolio that me and a financial advisor or me or in 2026, an app or AI has come up with where that's 401ks, mutual funds, index funds, ETFs, brokerage accounts, whatever you want to do, 529s, boom. I'm investing into that. And let's say let's say you don't have 25%. Okay, cool. I need you to start wherever you do have. Not have whatever. With whatever you do have. $5, $10, buy fractional shares, get into the habit. >> it. Make it come out of your account every month. >> Yes. And what I'm telling people right now, we're living in this AI boom and tech boom. You need to be looking into companies and ETFs and index funds that have a lot of AI and tech companies inside of it. Because what I'm seeing right now, these companies, I know we all went after to say for example Nvidia. But what companies are helping Nvidia make their chips? Start looking at the companies everyone's not talking about. Because those are the companies that are secretly just blowing up behind closed doors, right? And so, that's what I'm telling people, just buy $5 fractional share of that company that creates the power plant for the chip. Or invest $5 into this ETF that creates memory for AI. >> Because you can even you can even do an a fund of AI stocks. You don't have to think about individual ones as well. >> Yeah, and so I mean I and I think that's the main thing too. And then also within that, I'm very big Lewis on we got to start investing into our children's future. Have to. Whether he's doing 1% of the income, 5% of the income a month, we got to start investing into our children's future so we can change um the future and the change the future generations. >> Yeah. >> At work, greatness sometimes starts with a pile of meeting notes here, follow-up questions there. But, that's okay, because Chat GPT work, a new way to work in Chat GPT, can organize multi-step projects and help you make progress while staying in control. Chat GPT work can use your apps, connected tools, and files to create things like landing pages, trackers, internal tools, even web apps. Say your team has a new product concept. Use Chat GPT work to review customer feedback, pull themes, and draft a prototype. Maybe there's a planning doc that Chat GPT work can organize into owners, next steps, and a shareable status update. Make it even more specialized by installing specific plugins like Google Drive or Microsoft Teams. 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And when everything just works and I don't have to think about it, I stay focused on what actually matters. It fits right into my workflow and it keeps things moving throughout the day. Visit t-mobile.com/homeinternet to check availability and get your home internet delivered today. Same-day delivery for most internet eligible customers. See if it's an option during checkout. Fastest according to Ookla Speed Test Intelligence Data, second half 2025. All rights reserved. >> Well, phase five is something you talk about playing the long game, which is paying off your home, updating your estate plan, >> Yeah. >> and creating generational wealth, >> Yeah. >> and hopefully paying, you know, supporting your children, leaving your children with something as well. >> Yeah. >> And I'm of the mind of like, uh you know, now that I have kids, I don't know if I want to give them everything because then are they going to be resourceful? Are they going to Are they going to be creative and imaginative and you know, are they going to develop their own talents to be able to steward things in life? >> Okay. >> But it's figuring out, you know, what will I give them? I don't know, you know, so we'll see. I'm I'm still kind of figuring this out. >> Well, whatever you don't give them, give it to me and I'll I'll be >> [laughter] >> I'm going to give them something for sure, but I don't know if it's like and it's also like and I think in this process what I'm learning as I'm developing with my wife our our trust and our estate plan currently, cuz we just got married a year little over a year ago. >> Yeah. >> So, we have been building this together and educating myself. And I think that phase five is really like educating yourself on these things as well. >> Yeah. >> And I'm asking these questions with my, you know, my tax attorneys, with my financial team, and things like that. Um and asking them like, what do other wealthy families do that you've seen that have done well by investing in their kids or where you've seen hasn't really done well after one generation, two generations. So, it's thinking long-term and and kind of creating caveats. You know, if they're like getting into drugs and going to jail, maybe you don't get access to certain things. >> Yeah, yeah. >> Or you get a certain amount to like support you on a you know, a down payment for a home, but you're not getting the whole pot, you know, it's like and it's creating these different layers of kind of passing down to your children. So, I'm still learning about all this right now. >> No, I and I think I think all of us are still learning. One of the things that I talk about in the book that I've learned from five of the wealthiest families that are in my life. Um one of them is a billionaire, the other ones are worth at least a half a half a billion dollars or more. All five of them do one thing that is that is totally in common. Um every Christmas after Christmas, they all leave. All of them leave. I think two of them go up Denver, Colorado. And they have a family board meeting. And when I was talking to each one of them, I was like, "Mate, why is it so important?" And to come back with you, my children will not get everything because perfectly I'll leave before my my wife leaves. So, my wife will get the bulk of everything and then my children will get the rest, but then it within my estate uh with my wife and when whenever we get married, um wife will be first, uh children will be next, my church will get a bulk as well um of the money and then my business will get a bulk of the money because I still want my business to still operate and move forward and bless people. And so, one of the things that I've learned within this meeting is they're very strategic on making sure that their family is up-to-date on everything that's happening in the family. So, they don't just go up there and just talk about what's in the what's in the the trust or the trust or the No. Here's how much money we have, yeah. >> They don't do that. >> I was shocked. Every family member has to sign a NDA. And they go up there and they talk about, "Hey, we're struggling in our marriage, and this is what we're struggling in." And now all the family is helping them get through that family struggle. Wow. The the the if they have kids, um the kids are talking about they're asking questions. So, the family comes together and they talk about the family business. Because the last name is what's carrying everybody. And so, they're like, "Hey, we want to make sure that when we leave and they get our businesses, they get, you know, these millions and millions of dollars that we're going to be passing down to them, that not only do we know that we taught them about finances, but we taught them about their spiritual walk, we taught them about their family, husband and wife issues, we've we've asked any health questions." So, they ask, "Hey, how was your checkup this year? How are you doing from a medical perspective?" "Well, I just found out I had colon cancer." "Okay, so what are we doing about that as a family?" "Well, if something was to happen to me, this what we're going to do, we're going to have this date." So, everyone in the family is fully abreast of everything that's going on, even down to the 10-year-old. The 10-year-old knows what's going on with the family, and I asked them I said, "Well, 10-year-old don't know nothing." But that's a problem. >> They need to be learning. I feel like as the youngest of four, no one ever told me anything. >> Exactly. >> it's like maybe maybe they did, but that was my interpretation, you know. >> [laughter] >> But I I I would I'll hear stuff over the last 10 years and I'll be like, "That really happened at this time? Like, no one ever told me this." They always kept me like secret cuz I was too young. >> Yeah, yeah. >> And maybe you don't tell people ever all the like, "Oh, you know, this happened with your dad and your mom" or whatever, but you got to inform people, "Hey, we're going through something as a family." You know, maybe don't give the exact details. >> Um >> And it will help the child though, too. >> Yeah. >> Because if my family would have told me they they were struggling, If my parents would have told me, "Hey, we're struggling right now." >> Who knows? >> I would not have been as disappointed back then because they made me feel like we weren't struggling. They just didn't want me to do this and go do that and go do that. But if my family would have been honest and say, "Hey, you know, I just want to be honest with you, man. Me and being an adult, which you will be one day, you're going to live um and have to pay bills. And you're going to live and have to do this. And son, right now, me and your dad, me and your mom, we just can't do it." Um and 70% of the people in America do not have a trust and/or will. But the number one way to pay for funerals right now is not through an insurance policy. It's through GoFundMe. And it bothers me because when we really look at the people who are raising GoFundMe accounts, I guarantee you not all but a lot of them we a lot of them we can find some type of name brand item. A lot of them we can find something that they should not have purchased. So, we choose feeling good over protecting the ones who we love. We choose making sure that we look good and we smell good and we have the right hair, the right haircut, the right car, and make sure our pull-up game is good rather than having a hard conversation and getting an insurance policy, and getting a trust, and getting a will, getting your health um um um um policy put together, getting your power of attorney put together. And I'm 42. And and I I woke up at 3:00 in the morning when I was like 36. And I had a strong conviction that you you're teaching all this stuff, but you're not practicing what you preach. I said, "What do you What What? Huh? I'm debt-free. I'm good. Dada." So, no, no, no. If you died today, your family will argue over what Anthony wanted with his stuff. They wouldn't know what you wanted to do with the business, with your homes, with your portfolio. So, you're going to come home, you're going to be in heaven, you're going to be looking down, and your family's going to be arguing because you were selfish. And I And I'm trying not to get emotional because it really hit me. I think a lot of people are just selfish, and we don't care because when we're gone, that's their problem. >> Mhm. >> But one of the greatest ways we can say we love our family >> Mhm. >> is by while we're living, planning for our death. >> Yeah. And when we're gone, making it more comfortable for them than more stressful for them. >> The only thing I want my family to cry over is just me being gone. >> Yeah. Not I get this, and you get that, and huh, you didn't show up, whatever it is. Yeah. >> Yeah. That's the only thing. And man, that was probably the hardest thing, one of the hardest things I've ever done in my life. Because here's why. And this This is something we got to get out of, and it just bothers me. When I told my family I was doing my will and my trust, you know what the very first question they asked me? >> Are you sick? >> Yeah, yeah, yeah. Is he sick? >> So, we automatically attached the negative to the right thing to do. >> I mean, that's normal for a lot of people, though. They think that way because they're not thinking about, you know, phase five. They're not thinking about They're thinking of survival mode. They're thinking check paycheck to paycheck still. And they're not thinking creating financial freedom and peace for themselves and a sense of clarity for others now and later. >> Yes. >> And it's I still I bought I bought life insurance for myself in my 20s. >> Yes, sir. >> Because one, I wanted to lock in a a rate that was guaranteed for life. Um and two, I was thinking about my future wife and my future kids. >> Yes, sir. >> And I didn't know when I was getting married, you know, I got 15, 18 years after I got my first insurance policy, I got married and have kids. Wow. >> But when I bought the life insurance I was like this is not for me. >> Yes. >> I'm spending money every month and every year >> Yeah. >> not for my benefit >> Facts. >> for a future person that I don't know. >> Facts. >> And future kids that are not existing >> Facts. >> for them to benefit. And I've been doing that for over a decade and a half, almost two decades. I've been Maybe it was almost two decades. I've been paying a payment monthly >> Yes. >> for people that I didn't know. >> Louis, I say the same thing, man. I have a 529 account right now. 529 account for the people who don't know is a college savings account. >> For kids that are not born. >> That are not born. Right? And And And And maybe maybe I have Maybe I have not, you know, but I haven't even met their mother yet. >> Uh-huh. >> But for me it was if I want to change the narrative I went to school. I graduated with student loan debt. I My parents couldn't give me a check. If I want to change the narrative in the O'Neal family, it starts with me. >> Let's go. >> And it doesn't start with me when I have kids. It starts with me today with the current mindset. So I sit down and I What's the strategy? And then when I talked to my financial advisor, she was like, "Well, hey, here's the strategy. If you want to start planning for your kids, you can open up a 529 in the state of Maryland. You can write off up to I think it's what? 1,500 to 2,000 dollars." >> Before they're born? >> Before they're born. >> Shut up. I didn't know that. >> But the 529 is going to my trust. So that way if something happened to me now, the money goes to my trust, right? But because now it's like, do I want to pay the IRS that money or do I want to pay my future kids that money? And then now just think about it, man. Just think about it. >> [laughter] >> When they turn 18 and they go to school I get to look at my kids in the face and say, "You know what? Here's a check for 150, 200,000 dollars that I only put maybe 20 $25,000 into it. I was thinking about you >> Wow. >> before I even met your mama. >> Yes. >> Before you was even in your mother's womb. >> Wow. >> Now, what happens, Louis? My kids are going to be like, "What?" Dad, how do I do that, Dad? >> Mhm. >> At 18, at 20. So, now we've changed the whole dynamic in the O'Neal family to where we went to having to take out student loans and thinking after the fact to where now the generation behind me is now thinking way ahead of the fact. So, now they can tell their kids the same thing. Yo, I started thinking about you at 18 years old. Now, you got a half a million dollars for college because I thought about you 15 years before I even had you. >> Yeah. >> And so, I think when we can start changing that narrative, which I love what you said by getting an I wish somebody at 22 would have told me to get an insurance policy. My own parents didn't even tell me to get an insurance policy on me. But watch this. They had insurance policy on me, though. >> Yeah. >> [laughter] >> Yeah. >> They was like, "Well, we got to get one on this boy. We don't know." But no one sat down with me and gave me the proven path on how to win with money >> Yeah. >> on any income. >> Yeah. >> And I think, man, you can get an insurance policy on any income >> Yep. >> at any season of your life. You just got to know how to do it. >> Exactly. What does financial freedom actually feel like? Not the number, but the feeling of financial freedom. >> Man, it's it's joyful. >> [laughter] >> Man, it is um it brings tears to my eyes. Financial freedom feels like you can say yes when you want to say yes and say no when you want to say no. Uh financial freedom makes me smile real hard knowing that when I find my wife, I can give her the ring of her dreams and and a wedding within my budget of her dreams and not be stressed about it. Freedom feels good when you walk to your mailbox. And any envelope that's in there, you know it's not a bill collector. Freedom makes you sleep better at night. But also, man, freedom push you in position to take advantage of opportunities that if you didn't have freedom, you could not take advantage of. And uh for me, freedom is the goal. Being rich is not the goal. Being wealthy is not the goal. Being free is the goal. And everyone says, "Anthony, one of my friends said, 'Man, Anthony, you can make double the amount of income.' I said, 'Yeah, but I won't have freedom.' Because if I chase more money, that requires more of my time. And if I give more of my time, that that means I don't have freedom to do the things that I want to do. Like I'm a HBCU professor right now. I'm not making any money doing that. But I have the freedom to drive up to Richmond, Virginia once a week, every single Wednesday, to talk to 18-year-olds and 19-year-olds about what we talked about today. I'm using my freedom to be a blessing to this younger generation, so when they graduate college, they have the basic information of what they need to do with their jobs and with the income from their jobs. That's That makes me feel so good. I I enjoy teaching at a HBCU more than I actually enjoy teaching on YouTube. >> Mhm. >> Because I had the freedom to do it. >> Mhm. >> And it's my choice. And I'm not going there to get a check. I don't have to go there to pay bills. I mean, I walk in there, man, and see those kids' eyes light up when I talk about, "Hey, man, this is this is what compound interest is." You'll be surprised, Louis, of how many young people do not even know what compound interest is. They They have this mindset that nothing is free in this world, and nothing is. But, you're trying to tell me, Anthony, if I put $5 in this account, they're going to give me $0.25? May not be $0.25, you'll get something. But, the longer I keep it in there, you mean the more money I will make? And when I show them that, "Hey, eventually, if you keep it over there for a long period of time, you'll see that the majority of your income in your account wasn't even your money." >> Crazy, right? >> They're like, "What?" That's That's what freedom brings me. Like that I get so excited knowing that in the beginning of the semester, cuz my class is called consumer economics, that is not a sexy subject. But, by the end of the semester, man, my students are like, "Professor Noel, you was my favorite class. Like, you you like My students to this day, when they graduate, they still email me. They still ask me questions about this. And that's what freedom puts you in position to do. And I want people to think about this. What could freedom put you in a position to do for your own family? For your own community? For your own kids? For your own spouse? For yourself? >> Yeah. >> Like, freedom, and I'll say this and I'll I'll be quiet. You know, I'm going to preach to you, man. See, you got you got something to set up. Last time I was on your show, I weighed 196 lb. >> after I left your show, I woke up in the uh middle of the night, went to the ER, thought I was having a stroke. >> Wow. Really? I didn't know that. >> find out I had gas. >> Oh my gosh. >> So, I paid $5,000 >> Wow. >> to find out that uh I had gas. >> Wow. >> And my doctor, she said, "Hey, Anthony, you need to change your your your health routine." And I had freedom. To where I was able to hire certain things and certain help and change and today I weigh right about 160 lbs. >> Wow. >> And I haven't had any heart burns. My blood levels are so so much better. Still got Still got some work to do. That's what freedom is to me. >> Wow. That's cool. Well, speaking of things that a lot of people struggle feeling free around, which is when they get married, >> Mhm. >> merging their money and their assets. Some people >> Why? >> Some people get a lot of stress around that or they feel like it's hard because they've built their own assets, their own financial life, and now they're merging it with a spouse. >> Yeah. >> I think on the previous episode we were talking about this at the end that we would talk about this. And I know you're not married yet. >> Yeah. >> But, what is the what is the value when two people get married of merging their money, their assets into one unit rather than staying separate? What have you seen or heard from wealthy people that works, and what have you seen that has been destructive from those who have maybe been married and gotten divorced because of money uh constraints or the the the sense of money constraints? What have you noticed or observed? >> Yeah, man. I think it is very important to combine. You can't be married um and have two separate visions for your money. It needs to be one combined vision, one combined strategy, and we both are working that strategy to get to that vision, right? And so, I do believe that you should have one main family account that all income and assets are coming into. Then from there, you have an account that pays all of your bills, and from there you'll have a savings account. But, I do believe that Anthony and my wife should have our own spending account. That we don't have to be accountable to each other about what we're spending in that. Uh I uh look forward to getting married and having a uh husband and wife conversation every single month. I'm going to be smart with it. I'm going to make sure that I buy her a nice little dress every single month, and we're going to go to her favorite restaurant, or one of her favorite restaurants every single month, and we're going to have a conversation. Hey, what worked this month? What didn't work this month? What do we need to be prepared for next month? I know we want to go on vacation in July. I know I know we want to do Christmas, and I know birthday, and anniversaries, and stuff is coming up. But, hey, you know, maybe you want to do something with your girls, or maybe there's something you want to do with the kids. What do we need to prepare for next month? How do we work the vision? Because here's the truth, man. Take away people like yourself and I who who have done financially well within our businesses. Let's talk about the average everyday person. The average everyday person cannot afford to he pay this bill, she pays that bill, and they keep their money separate. No. Uh the quickest way to get out of get out of living paycheck to paycheck, and the quickest way to building wealth, is to bring y'all income together, live off of one of y'all salary, and invest the rest. And then invest the rest. But, if you're living off yours, and you're living off of yours, you can't do that together. So, if you're if you are a the the average middle class individual, hey, man, no. Come together, and then come up with a strategy. Hey, I know we make a combined household income of 88,000, but we going to live off of my 50,000. So, whatever apartment or whatever house we can get with this 50,000, that's what we going to do. Bae, with your income, man, we're going to tithe for sure, but man, we're going to invest heavily and we're going to even use some of your income for vacation for the family. But for the bulk of your income, man, I ain't we cannot be 80, 90 years old still working because we didn't invest wisely. So, we're going to start investing your income into a mutual fund, into index funds, sit down with a financial advisor, and invest your income. Not just invest it for our retirement, but invest it for our kids, too. >> Yes. >> But if you have two separate visions, you'll never get to an end goal quickly. >> Mhm. >> And for me, even at this stage of my life, when I do get married, yeah, we're going to have some documentation documenting like, "Hey, this is going to work, but just in case it doesn't, what I came in with and what you came in with, we can we can go out that way." >> Yeah. >> But when we in this thing, no, it's it's all one pot. >> Yeah. >> Let's get to the end goal. Let's put our kids in position to win. How do we bless our church even better? How do we build a dynasty and a legacy together? Man, I I get excited about getting married and not doing this on my own. I don't want to keep all my money and all my success to myself because the truth of the fact as a Christian man, God gave me everything not to be good for the world, but to be a husband and and to be a father to my and a priest at home. I can't do that if I'm coming here saying, "Oh, all this is mine." No, baby, I did all this for you. Yeah. I did all this for us. Now, we going to be hold we going to hold each other accountable. Make sure you good with your money. >> [laughter] >> You know, but I mean, no, let's let's do this thing together and we going to meet every month about the funds. >> That's good. What are the biggest money lies that people have been taught that are quietly keeping them broke? >> Oh, managing credit score is the number one thing that you need. That's bogus. >> Yeah. >> That's bogus. >> even know what my credit score is. >> Yeah, Louis, it bothers me. Oh, man, you know, um cash ain't king, credit is king. No, it's not. I think that credit and cash are equally important. >> Mhm. >> Because and here's the truth. I lived that world. Anyone who knows me, you know. If you don't know, God bless you. My name is Anthony O'Neal. >> [laughter] >> But I lived that world, man, and I didn't have an active score. >> Mhm. >> And my car insurance for my three cars was right around $1,300 a month. >> Three cars? >> Three cars. >> Dang, man. >> $1,300 a month. >> Fact. At a time. I got rid of one. I'm down to two [laughter] now. I got my dream car and my daily car. >> Okay. >> Um and so >> you had your three cars like back in the day or something. >> I did. I had too many cars. >> Wow. >> See, I'm human, right? >> That was different. If you got the the funds, it's different. >> Definitely. >> The funds. But even still though, with the funds, I was like like you said, I only get to drive one. >> Exactly. >> So that means one of them going to be sitting all week. That's a waste of money. So I went down to two. >> And um and even with those two, I went down to 11:30 a month. Well, >> Okay. >> I did my I did my own thing. I said, you know, let me go car shopping. Went car shopping. My first quote came back at 5:10. >> Wow. >> I was like, wait, what's the difference? So I called my rep at that at at particular company I was with. She said, "Oh, your credit score." "When you first signed up with us, you had a non-credit score cuz you had no open trade lines. Now that you have a house and, you know, um actually just real estate on my credit report now, she was like, 'Your score is in a high sevens and even a low eights. So now you qualify for a cheaper rate.'" >> Wow. >> I said, "Okay, so there is a science this credit game. >> Okay. So, because I had a decent score, I saved $600, $700 a month. >> Mhm. Pretty good. >> Right. But, how many people do we know have a 800 credit score, but don't have $800 in their in their savings account? >> Mhm. >> So, I believe that one of the biggest lies that we tell people is that, man, do not worry about cash. Just make sure you have a real good credit score. And that lie is such false because, okay, let's say that's true. If I had this 800 credit score and I go borrow $25,000, but I don't have the money to pay it back, now I'm screwed. >> Yeah. >> I'm screwed. So, I think that's one of the biggest lies. I do believe that it is important, but, man, I I'm like you, Louis. I just know my score is good because I don't borrow any money like that. So, it's like for me it's it's like all my cars, paid for them cash. >> Mhm. >> Um um anything I'm paying for with cash. >> Yeah. >> Um except for real estate. >> Yeah. >> I want to get to the point to where I can pay cash for real estate, but I am kind of like, uh You know? >> yeah, yeah, yeah. Why? Why? >> [laughter] >> Right. Like, uh >> Keep that cash. >> Yeah, yeah, yeah. You know, I'm like, uh uh uh >> [clears throat] >> Like, I may my primary house, I may pay it off just so I the family is good, right? Because I am in the the content creation space and with AI, we don't know what's going to happen in the next 5 to 10 years. So, I would love to make sure the mortgage is paid off. But, even still, I'm like, I'm going to still be making money. >> Yeah. >> So, I don't know really what's the rush, right? >> Exactly. >> So. >> Yeah. What's the difference between looking wealthy and actually being wealthy? >> You know, that depends on where you are. See, they that question kind of gets me a little bit. You know, you have the book The Millionaire Next Door talking about, you know, he was a millionaire and he lived in a very modest house and drove like a Ford um a right? But, let's look at the kind of vacations he was going on. But, he was flying first class with his family. He He was probably spending 30, 40 thousand dollars. I have a friend who's in the NFL right now. I won't say his name. Uh, drives a a Yukon. Drives a Yukon. But, every year he'll spend a hundred thousand dollars on a family vacation. Because he believes in experiences. So, I I really can't say what is the difference between someone looking wealthy and being wealthy. Because what I may say, "Oh, he's trying to flaunt." I Here's my philosophy. If you are living below your means and you decide to spend your cash that kind of way, I don't care. People will look at me. I have an expensive car. Cool, great. But, I didn't have an expensive house. It did feel weird pulling up to my average house with that expensive car. But, I paid for it cash. I I I'm consumer debt-free. I live way below my means, right? But, it's like if I work hard, if I pay off all my consumer debt, if I got a fully funded uh investment portfolio, a fully funded emergency fund, however I decide to spend my money, it should be okay. >> Yeah. >> Like, I would never spend a hundred thousand dollars on a vacation. But, I will spend a hundred thousand dollars on a car. >> Yeah. >> So, there's nothing wrong with that. >> Yeah. What would you say then are normal money habits that are destroying people's finances? >> Yeah, man. We got to get off of our money habits. Got to get off DoorDash, Uber Eats. That's a habit that's just destroying us right now. They say They say on average people are spending anywhere between 42 hundred to 6,000 dollars a year. >> So, how much are they spending a year? >> 42 hundred to 6,000 dollars a year. >> uh >> On just DoorDash. >> Really? >> So, you're going to order McDonald's that typically would cost you about six six to ten bucks if you go pick it up. You're spending twenty-one dollars for a double cheeseburger value meal. >> Wow. >> Because you're Cuz you know DoorDash up >> Oh, and then the tips. >> Then the tips, then the convenience fee. >> Wow. >> Right? And then if you're going during busy hours, that convenience fee is even higher, right? So, that that is one habit that we got to stop. We have to stop doing it. There's another habit that we got to stop doing. People don't talk about this. Stop paying premiums, um high-end health insurance premiums. Get off of PPO, get into the high deductible ones, and get a high deductible account that's attached to a HSA health savings account. If you're below 40 and you're healthy and you're just going in once or twice a year to get your your average yearly exams and maybe a urgent care here and there, man, go get you a high deductible plan that keeps your high deductible cost at $3,000 to $5,000 before any expenses. Put that money inside of a savings account. Most jobs will give you a HSA account and match either the first $500 to $1,000. Put that money inside that account. Now, when you go to go to the hospital, when you go to Walgreens, CVS, Walmart, Target, anywhere, now you can see how you can pay tax-free dollars for that Tylenol that you would you were needing. So, now we're we're getting we have to get we have to get smart, but because the world has taught us, "If I go to the hospital, I only want to pay $25 out of pocket." But, how often are you going to the hospital? >> Right. >> So, I think that's another habit that we got to get out of is saying, "Cuz that's comfortable." No, man. Look look sit down with yourself and ask yourself, um can I afford that? Like, can I afford to go down to a high deductible plan? >> Stop living paycheck to paycheck, the proven path to break free from debt, build real wealth, and live free >> Yes, sir. >> on any income. Make sure you guys get a copy, get a few copies for some friends that might be struggling financially. If you're looking to to really stabilize your finances, create that vision for yourself, that money vision, eliminate the debt, start investing and saving, and start feeling the freedom that you want to feel. I'm excited about you this book for you, man. So, I want everyone to get this book and make sure to support our guy, Anthony O'Neal. Uh is there any final money lesson that you've learned in the last couple of years that you feel like would be helpful for anyone listening or watching right now? >> Man, I put so many inside of uh the book, but I think one of the lessons that I've learned when it comes to money is uh money is a game. And you're either the player or the piece. >> Mhm. >> And I think that the majority of people are the piece and they're being picked up and and played around with. >> They're being played. >> Mhm. And I think for me when I really learned that that I had to transition myself from the player to not a player, from the piece to the player, man, I learned it. There's so many ways you can build credit without borrowing any money. But we're we're just not taught that. And we talk about that inside the book. There's so many different ways you can invest without making $60,000 a year. We talk about that inside the book. It's Money is a game. More so than game, money is just a strategy. And there's a strategy for everybody on any income level. The strategy change as your income changes. You go from 50,000, you're on this strategy. You're at 70,000, you're on this strategy. You're on 100,000, you're on this strategy. Now, watch this. From 100,000 to about a half a million, you're on that same strategy. Right? And so, uh that's one of the biggest thing that I really learned and I just I spent time I had this book done before my last book. >> Mhm. >> But I wanted to make sure that this book literally were There's no fluff in there. There's not a lot of stories. It's here's the strategy for the place and the season of where you're in and if you follow that strategy you'll be consumer debt free within 12 to 18 months and within the next 3 years your whole financial situation will be changed around. >> Anthonyoneal.com, Anthony O'Neal on YouTube, Instagram, everywhere on social media. Again, make sure you guys get the book stop living paycheck to paycheck. Um, couple final questions for you. >> Yeah. >> I've asked you this question before a few different times. It's called the three truths. But I'm going to ask you in a different way. >> Okay. >> If you could only leave behind the world with three money truths, three lessons that you know to be true about money that you would leave behind, but we didn't have access to any other money content that you had ever. What would those three money truths be for you? >> Number one, give uh give back 10% as far as to be generous um and activate the spiritual realm for you. Number two, um make sure that you budget and write down every single dollar. Spend every single dollar on paper first. And then number three, um invest, position your money to make more money over a period of time cuz your money will work harder than you will. Invest at least 15 to 20%. That's it. >> Final question. Anthony, what's your definition of greatness? >> Man, you know, it's changed, man. I think my definition of greatness is what have you accomplished that no one else can see? That only you and God can see. And that means only me and God can say that I'm great. >> Wow. >> Louis can't, the world can't. Only me and God can say I'm great. And that's my definition of greatness is what have you done behind closed doors that contributes to who you exude outside for everyone? That's my definition. >> My man. >> Appreciate it, brother. >> Appreciate you, sir. [music] >> How do you actually grow that money? Because like we talked about what wealthy people do is not work for money. They make their wealth by having their money make them money. So, where do you [music] invest? And you know, the first thing everyone talks about is the 401k and I'm going to talk about this now [music] as one group called the open payment method.