– Hi, Coach Frasier here, with Full Circle Coaching and Consulting. And today I wanted to
talk to you about debt. Debt is a huge thing that
we hear about constantly from clients, from people
that reach out to us, and even just hey, friends and family. Debt is one of those
things that is so powerful that it can paralyze people
and control their lives. And we're seeing more and
more debt in our society. We're seeing people graduating with student loans of 250,000 dollars. We're seeing people
incurring more and more loans in their business to expand and grow. Lines of credits. We're seeing mortgages getting larger and larger, debt carrying cost. We're seeing people using credit cards to pay off other credit cards. And they're maxing them out. We're also seeing all sorts of people that are stressed about paying taxes and the debts that they
owe to the government.
So, if we allow these kind of stresses and this anxiety around
debt to control us, it will totally interfere with our ability to expand our businesses
and grow our lives. So, how do we do this? First step is we want to
teach you how to start wearing the pants in your relationship with debt so that you can start to control it. It's all about mindset. The second step is about creating a plan. If you can create a plan that allows you to breakdown that debt
and just beat the drum so that you can actually pay it off in a specified amount of time,
you can control your debt. And you can eliminate
your anxiety and fear. And that's the point. Debt, just like fear, is
invisible but it's real, okay. And it also, even though it's powerless, it can dominate people. I've seen it over and over.
So, let's create a plan so that you can get your life back,
control it and prosper. So, step one. The first piece again, mindset. Whatever we put our energy towards is where our energy goes. So, if our mindset is all about debt, guess what we get? We attract more debt. So, what we think about, we bring about. And we all know it. We know people that are worried about debt and that's all they talk about. And guess what? They're paralyzed there. They're in that space and
they keep on attracting more and more debt and bills. So, let's break that cycle. The first step to doing that is to take a piece of paper out
and start to write down all of the benefits of
the debt that you have.
So, be grateful. Start to write down all the benefits that the banks and all
of the loan companies and the line of credits, and
all these different lenders, even your clients. When they're lending you
money, what are the benefits? What are you doing with that money? So, once you start writing
down enough benefits for money then you're gonna start to
shift your mindset around it. It's not gonna be a negative anymore, it's gonna be a positive.
So, let's think about this. You know, money. The debt that you've
borrowed is allowed you to get a degree from school
and allow you to earn a living. It might have made you into a doctor that can help you change lives. It might've allowed you to buy the house that you now shelter and
protect your family with. It may help you get the car
that gets you to and from work. It helps you shuttle your
kids to different events. There are a 1000 different
ways that money is a benefit, or debt is a benefit. And once you write enough of these down, you'll feel grateful for it.
Step number two, change your debt from a money value, into a service value. So again, mindset around money is very powerful, it's very emotional and it can control us. So, let's simply take that money and figure out how much debt
we have, how much we owe and let's break it down
into cost of service. So, the services are the things that we do in our business. If it's a chiropractor, are you adjusting? What's your cost per adjustment.
Or if you're in business, what's your average
transaction cost or fee? And once you accumulate your service cost, you can divide that into your debt and figure out how many services will it take to pay off your debt. When you got that number of services, now, we can start to focus
on the amount of services that we can lovingly deliver or sell, or transactions that we carry on and how we can actually convert that into positive energy that will help us grow our business and
deliver more services so that we can pay down that debt. Rather than being stuck on
that negative dollar value. Powerful thing. I've seen this action. I have a client that was
mired in a fair bit of debt.
I think there was at least
three different credit cards and several line of credits. And when we started to just
simply consolidate them 'cause he had five or
six different payments. And we consolidated them into one big mass and we broke it down into
the number of adjustments it would take for him to pay that off, then we created a plan monthly. How many services did he require monthly in order to make that happen? The result was amazing. Because first of all I
saw his shoulders drop about six or eight inches. The amount of energy that
came out of him was incredible because finally he saw how
he controlled the debt. The debt didn't control
him, he controlled it. And he was able to focus on delivering that loving service in his practice.
And suddenly, his practice exploded. So, this is very real. If you can learn how to control the energy and mindset around debt, you can take back your life and you can continue to grow your practice and expand your ability to deliver your optimal self to the planet. So, let's think about
this, debt is really just a relationship with money. That's all it is, it's
a reflection of that and we see so many of our clients that have a huge block and that block interferes
with their ability to grow their business or their practice. So, if you're ready to change your mindset around debt and to take
some big steps forward, check out one of our coaches, see if you can book a call with one
of us and we can look at some of the interferences that you may have in your life, debt or otherwise, that prevent you from
growing your business.
Check out the practice
growth strategy sessions in the link below. Let's see if we can help break through that practice plateau, or
that business glass ceiling that limits you, and make that into a new glass floor. And you can start to grow your business and your practice organically. Thanks for watching..
if you need a free debt management
software then this video is for you hey it's Hoz here with another great
tool to share with you and this one is a free debt management tool. It is in fact
the free tool that gets you out of debt because it says so on the screen. But
seriously this tool is amazing I wish I'd had this tool years ago back
when I was a freelancer under a mountain of debt. Now the beauty of this tool is
that it shows you which cards to pay first how to tackle your debt and which
is the most mathematically efficient way to pay down your debt.
In short all the
things that I never knew how to do. So in this video I'm gonna give you a quick
overview of how it works and then I'm gonna show you where you can go and get
it for yourself. Okay so let's go into my account.
Now here I am in my settings screen and this is the first place you want to go
to when you sign up so you can do that by clicking on the cog wheel at the top
right hand side – that's the settings wheel – or you can click on my account
here on the left hand side navigation. Here you'll see that you can enter your
name and your email address and you'll notice two tabs: the settings and the
options. Those are really the two tabs that you want to focus on in this
section. So notice here the debt payoff method. Here you choose a debt payoff
method from the drop down menu just choose any and don't worry about it
because you can change this whenever you want as many times as you want and I'll
show you that in a moment.
And then here you enter the total budget – you enter how
much money you have available to throw at the debt every month. Okay then we go
to options and here you'll see that you can enter any currency that you want so
this software will work for you wherever you are on the planet unless you happen
to have a weird currency that's not listed here for some reason. Okay then
you have a drop-down menu that enables you to set your landing page. I have mine
set to the payoff progress. You can set it to the dashboard,
the snowball table, accounts or easy mode. And that's about it really.
So let's go to the easy mode section which is the top link on the left hand
side and this brings you to this screen. Now notice there's a toggle here you can
click on this to expand the navigation menu on the left and you can click it
again to contract it and make the most out of the screen area.
So this easy
section is really easy to understand: there are only three steps. 1 set your
budget, 2 add accounts and 3 choose a plan, and that's it. So here you add
your monthly budget; step two you add your cards and I added some dummy ones
there with some data so that we have something to look at but you simply
click the add new account button, you give the card or the debt a nickname – and you can get as inventive as you want here: the debt from hell or the
slave driver or whatever you want. You enter to your current balance, your
minimum payment, interest rate, and the software will work out everything for
you – how much you're paying in interest every single month.
A lot of these fields
are not compulsory; some are. You enter the next due date that's the next day
that you're paying and I recommend that you enter the credit limit of the card
and I'll show you why in a moment. Okay so then we go to step 3 and here we have
the debt payoff plan and from this drop-down you choose a plan and this is
really good because whatever plan you choose you'll notice that there's a
table underneath with all the credit cards that you add organized according
to the debt plan that you choose. So these here are organized in the order
that I need to pay them off.
So the software uses the minimum payment of
each card to figure out what the minimum payment is at the end of the month for
the total debt and then it looks at the amount available that you have – the
budget, the money that you have to throw at the debt – and then it figures out how
much extra money you have and according to whatever plan you choose it decides
what the best most effective way to pay down that debt is. Okay so here you can
see for example that I have PayPal as one account and the software has figured
out that I can afford to throw 205 pounds at Paypal this month, and notice
that some cards don't have an amount for this month and that's because it's using
the payment date to see that those have already been paid so it's looking at the
available money now after those cards have been paid and it's organizing it
that way.
Now if we scroll down we can see exactly when that debt will be
extinguished and notice what happens here: this second card here has a
hundred-pound every month being thrown at it – it's a fixed payment. As soon as
the first debt is extinguished that 15-pound that was being paid every month
to that first debt is now moved to the second debt so now there's 115 pounds
being thrown at the second debt.
And if we scroll all the way down you'll notice
that at the end of that debt when that second debt is extinguished that extra
money is then thrown at the third debt and it does snowball this way because of
course you're getting rid of interest payments as well as the fixed or the
minimum payment that you're making to that card. Okay so we do this for every
card and you can see here at the end when you will finally one day hopefully
be debt-free. Now let's go back up to the top if we go
to the dashboard screen you'll see that it's a bit more comprehensive you see
more details. Let me just toggle that off. Here you can
see all the cards and you can see at the bottom row here the maximum interest
that you will pay at the end of that debt and it's always a shocking amount,
and along the top here you can see that you have a cockpit style overview
showing you active debts, monthly budget, minimum payments, snowball amount, payments
made and overall progress.
So the software looks and feels really good – it
is a nice interface considering that there's only so much you can do with
numbers; it does actually look a bit sexier than a spreadsheet. Okay so we
scroll down here you'll see a debt account payment manager. Now this is
really cool – this has been really well thought out. You'll see that there are
different cards here all the cards that you list will be here and every single
one of them will have a quick pay button okay and what this is is if you find
yourself in the fortunate position one month where you have a bit of extra cash
to throw at one of your cards, you do that then you come here and you actually
record that payment. So for example let's say that I threw 20 quid at this card. I
can add that in there and click on the quick pay button and what happens is
that immediately updates the entire debt – the entire plan –
and it adds the amount to that card. Now if you use spreadsheet to manage a lot
of debt then you know that when you throw an extra payment at one of your
cards it usually means you have to update something manually on the
spreadsheet and things can get funky quickly, so this is one reason I really
like this tool, apart from how handy it is.
I like the
way that you can make those quick payments and just have everything
updated automatically. Now you'll see here on the right-hand side you have a
transaction history and it shows the payment that I just made as well as
three other dummy payments that I made during the previous recordings because
would you believe it I recorded this and I forgot to turn the screen on and the
second time I recorded this I turned the screen on and turned off the mic by
mistake so I'm having one of those days. So yes, this is the third time I'm
recording this video and I hope it's the last one.
Okay so here on the left hand
side you'll see that there are a ton of other links – really useful stuff. There's one here called the payoff plan and this shows you all the different
methods. Now if you go to this compare methods this will actually show you each
plan and how long it will take to pay using each plan as well as the total
amount of interest that you'll pay. Now notice for example that the debt
snowball it says try this method if you have several low balance accounts that
you want to pay off sooner rather than later,
so that would not have been me at any point in the past. The second plan is the
debt avalanche and this method is the most mathematically effective way to pay
off your debt. This is the type of thing that I really needed guidance with and I
didn't have back in the day, so I really like this bit.
Then you have the hybrid
debt ratio which is really cool and you'll notice that this actually takes
one month less than the debt avalanche to pay the entire debt. Then you have the
other plans here which you can explore but as you saw earlier in the easy mode
screen you can very quickly change that debt payoff plan
to something else. So I'm gonna click on the hybrid to debt ratio and that's
gonna immediately update my plan. So you can see how cool this software is – it's
actually a godsend. Now let me just say that this software is free and you saw
the banner on the website – it is a free debt management tool – but they do have a
paid section and if you click on this Stats and Projections, that takes you to
a restricted area where you have to pay if you want access.
Now I will say that the payment is actually twelve dollars a year that's
one dollar a month which is just… you know, unbeatable for what the software
does; it's just unbelievable. And it does have a lot more features including a
bill management of your monthly non debt expenses.
So for example you can record
your outgoings whether these are payments to hosting and tools or your
own private personal stuff. So the paid version enables you to also
manage your money or your finances rather than just your debt but the free
tool will actually take care of the debt management. There are a couple of
interesting things there as well like this 52-week savings challenge plan and a
debt blaster payoff method enhancement.
I don't know what that is because I
haven't used the paid version and taken a look but there is a 30 day free trial
if you really wanted to do that. That said I would just focus on paying the
debt using the free tool if that's all you can afford and especially if you are
in big debt. Don't be spending more money. Although one dollar a month in this case
with this particular tool may actually save you money. Okay so let's talk about
where you can go and get this tool but before you do if you want to keep up to
date with these great tools that I keep finding then please subscribe to the
channel and that way we can stay in touch.
Okay
so the debt tool is called undebtit – undebt dot it. This is the domain name
where you go and you sign up for your free account. Go do this and get
control of that debt and of course as always remember take it easy and I shall
see you in the next video.
– Hi, Coach Frasier here, with Full Circle Coaching and Consulting. And today I wanted to
talk to you about debt. Debt is a huge thing that
we hear about constantly from clients, from people
that reach out to us, and even just hey, friends and family. Debt is one of those
things that is so powerful that it can paralyze people
and control their lives. And we're seeing more and
more debt in our society.
We're seeing people graduating with student loans of 250,000 dollars. We're seeing people
incurring more and more loans in their business to expand and grow. Lines of credits. We're seeing mortgages getting larger and larger, debt carrying cost. We're seeing people using credit cards to pay off other credit cards. And they're maxing them out. We're also seeing all sorts of people that are stressed about paying taxes and the debts that they
owe to the government. So, if we allow these kind of stresses and this anxiety around
debt to control us, it will totally interfere with our ability to expand our businesses
and grow our lives. So, how do we do this? First step is we want to
teach you how to start wearing the pants in your relationship with debt so that you can start to control it. It's all about mindset. The second step is about creating a plan. If you can create a plan that allows you to breakdown that debt
and just beat the drum so that you can actually pay it off in a specified amount of time,
you can control your debt. And you can eliminate
your anxiety and fear.
And that's the point. Debt, just like fear, is
invisible but it's real, okay. And it also, even though it's powerless, it can dominate people. I've seen it over and over. So, let's create a plan so that you can get your life back,
control it and prosper. So, step one. The first piece again, mindset. Whatever we put our energy towards is where our energy goes. So, if our mindset is all about debt, guess what we get? We attract more debt. So, what we think about, we bring about. And we all know it.
We know people that are worried about debt and that's all they talk about. And guess what? They're paralyzed there. They're in that space and
they keep on attracting more and more debt and bills. So, let's break that cycle. The first step to doing that is to take a piece of paper out
and start to write down all of the benefits of
the debt that you have.
So, be grateful. Start to write down all the benefits that the banks and all
of the loan companies and the line of credits, and
all these different lenders, even your clients. When they're lending you
money, what are the benefits? What are you doing with that money? So, once you start writing
down enough benefits for money then you're gonna start to
shift your mindset around it. It's not gonna be a negative anymore, it's gonna be a positive. So, let's think about this. You know, money. The debt that you've
borrowed is allowed you to get a degree from school
and allow you to earn a living. It might have made you into a doctor that can help you change lives.
It might've allowed you to buy the house that you now shelter and
protect your family with. It may help you get the car
that gets you to and from work. It helps you shuttle your
kids to different events. There are a 1000 different
ways that money is a benefit, or debt is a benefit. And once you write enough of these down, you'll feel grateful for it. Step number two, change your debt from a money value, into a service value. So again, mindset around money is very powerful, it's very emotional and it can control us. So, let's simply take that money and figure out how much debt
we have, how much we owe and let's break it down
into cost of service.
So, the services are the things that we do in our business. If it's a chiropractor, are you adjusting? What's your cost per adjustment. Or if you're in business, what's your average
transaction cost or fee? And once you accumulate your service cost, you can divide that into your debt and figure out how many services will it take to pay off your debt. When you got that number of services, now, we can start to focus
on the amount of services that we can lovingly deliver or sell, or transactions that we carry on and how we can actually convert that into positive energy that will help us grow our business and
deliver more services so that we can pay down that debt.
Rather than being stuck on
that negative dollar value. Powerful thing. I've seen this action. I have a client that was
mired in a fair bit of debt. I think there was at least
three different credit cards and several line of credits. And when we started to just
simply consolidate them 'cause he had five or
six different payments. And we consolidated them into one big mass and we broke it down into
the number of adjustments it would take for him to pay that off, then we created a plan monthly. How many services did he require monthly in order to make that happen? The result was amazing. Because first of all I
saw his shoulders drop about six or eight inches. The amount of energy that
came out of him was incredible because finally he saw how
he controlled the debt.
The debt didn't control
him, he controlled it. And he was able to focus on delivering that loving service in his practice. And suddenly, his practice exploded. So, this is very real. If you can learn how to control the energy and mindset around debt, you can take back your life and you can continue to grow your practice and expand your ability to deliver your optimal self to the planet. So, let's think about
this, debt is really just a relationship with money. That's all it is, it's
a reflection of that and we see so many of our clients that have a huge block and that block interferes
with their ability to grow their business or their practice. So, if you're ready to change your mindset around debt and to take
some big steps forward, check out one of our coaches, see if you can book a call with one
of us and we can look at some of the interferences that you may have in your life, debt or otherwise, that prevent you from
growing your business.
Check out the practice
growth strategy sessions in the link below. Let's see if we can help break through that practice plateau, or
that business glass ceiling that limits you, and make that into a new glass floor. And you can start to grow your business and your practice organically. Thanks for watching..
Welcome back Suze Orman is here with us on the
InvesDiva Movement where we are aiming to help at least one million moms and more and dads and aunts
and brothers and grandparents all the people who can benefit from taking control of their financial
future, there is nobody better to answer questions about debt and that is Suze Orman she is the
legend in retirement planning and in debt management actually financial advisor unlike me
she's an actual financial advisor. So Suze thank you so much for being on our show and taking
the time to actually educating our audience.
Let's do it girlfriend what
do you want to know next? So debt management in America and in any
other country I'm hearing is a big deal, now not being from America I was born and raised in
Iran I didn't grow up with much but debt wasn't a thing we wouldn't buy things that we didn't have
money for and then I went to Japan and Japanese people also like they they don't go into debt like
buying as as as long as I know um so it was a very new thing to me coming to America finding out that
people going into debt to go to college people go to bed to buy stuff on their credit card and
then people don't pay their credit card.
I'm like how does this even make sense so I personally
don't have experience with it so my first question for you Suze is, what is the biggest mistake
people are making right now when it comes to debt? First, before you understand what you
don't have which is debt you know meaning the money you don't have that's created
debt you have to understand what money is. And you have to understand that the goal
of money is to make you feel secure. Simple, that's it, nothing more needs to be
said. You also need to understand that money is the greatest teacher when it comes to teaching
you about who you are. Because money cannot do anything without you, you're the one who has to go
out and get a paycheck you're the one who decides do you invest that paycheck do you spend it do
you waste it what do you do with it? If you are walking down the street and you drop $20 it cannot
call out to you and go wait wait you drop me come back and get me. So money cannot do anything
without you.
So if your money isn't doing what you want it to do and you find that you are in a
total financial chaotic mess that is because you yourself are a chaotic mess, your money is just
a mirror and reflecting back to you who you are. So when you have debt you have debt
because when you feel less than you spend more than, when you yourself feel like
ugh I'm a nobody I don't have anything I'll never be anybody I've struggled my whole life
I deserve this and whatever you say to yourself that all of a sudden translates into you
buying something that you can't afford. When you feel less than you spend more than
and so when you look at debt the first thing you have to understand is, this is a statement
of how you feel about who you are this is your mirror that you're looking at.
That you hate to
look at, that you don't want to pay attention to, that you don't know how to get out of it, so why
did you create that debt, to begin with? because I can tell you easily how you get out of debt but
if you can't figure out why you got into debt, to begin with, you'll get out of debt and get
right back in it again. So you need to look at debt in a whole different way now anybody can
say oh pay the highest interest rate first, who cares about any of that truthfully.
What I want you to care about is yourself and what are you doing in your life to be an
obstacle in your path to financial freedom or financial independence? And normally it comes
down to the three internal obstacles to wealth fear, shame, and anger. Those are the three
emotions that cause you to spend more money than you know you should be spending to do all kinds of
things because you're angry I'm gonna get back at this person I'm gonna go buy a new car, I'm gonna
do this, I'm gonna do that oh you're at a store and you see a sale and the sales ending today
and you are afraid that you're going to miss out on this sale you buy something you
take it home and you never wear it again. Why is that because when you look at that item
that you bought it reminds you of the fear that you felt when you purchased it and this is all
going on subconsciously and all of a sudden your life stops working if you have debt you have to
go within to see why you are doing without that is why it is so important that you understand
who you are, that you understand why you do what you do with money? Not in terms of investments and
things like that but why do you buy something when you can't afford it? why do you have 50,000 pairs
of earrings? Suze Orman still only has one pair for the past 40 years, I don't need more than that
you can look at any book cover go back to Oprah 20 or 30 years every show I was ever on you'll never
see another pair of earrings besides this.
I don't have a purse, I don't because I don't carry a
purse and so like why do you need all that stuff really? So when it comes to debt the most
important thing for you to understand is when you have credit card debt you are paying
for your present-day desires but your costs will be your future day needs. There will be
things when you get older that you need but you can't pay for them or get them because you
paid for your desires when you were younger. So just think about what I said to you and it's
not the typical answer a financial advisor would give you. The typical answer would be oh well
there's good debt, there's bad debt pay that snowball method pay the… no, I don't care how
you get out of debt I care about you understanding why you got into debt to begin with? What are
you trying to fill up within yourself with the things that you are buying that are putting
you in debt? that is the question at hand.
That is so powerful and surprised
that people don't know that. oh, they don't know that. People in America don't know that and I'm so
glad that you bring it up and people don't know that even though you've been saying
this clearly for years and years and years. But it's about who you are it's about so you
can so it this really is this is a spiritual thing like money is spiritual and you have
to become the kind of person who's not, who is not in debt you have to become the
kind of person who earns a lot of money, and that really is the gist of it is that hey
don't be in debt.
I am okay I'm not going to be in debt is not gonna fix the problem, the
problem is you, which is something that you were actually talking about in our first interview
like fixing yourself fixing understanding who you are um really can be powerful when it
comes to fixing your money issues right? It's the only way to fix your money issues you
cannot if you have money issues, it's because you have issues because your money can't have
issues without you. So stop blaming your money for things that you're doing.
Think about it your
money I can rip up twenty dollar bills I could can't they can't scream they can't go
stop I hurt. You and your money are one. I mean this obviously makes sense but I
have a follow-up question, and that is college debt? because that is something that again
the society kind of looks like it again in America like you you just go into college that you have
to go to college and you pay like what do people do with this do we do they have to continue to do
this? if they already have college debt what to do because that's a question that I get asked a lot
and not having had college debt my only solution is that go make more money and but like just learn
how to make more money but what would you say? Well right now student loan debt, so you
have all different kinds of debt you have mortgage debt you have credit card debt you
have 401k debt and loans sometimes you have personal debt hopefully you don't have payday
loans but you have all different kinds of debt, and then you have student loan debt as well.
Out
of all of those debts that you can possibly have, student loan debt is the most dangerous
debt you can have bar none. Why? because all those other debts including IRS debt can
be discharged in bankruptcy, you could get rid of them if you needed to. Student loan
debt is the only debt that you cannot take through bankruptcy in 99.5 percent of the cases.
So it will follow you to your grave. So therefore student loan debt is the one debt that you really
really really need excuse me to pay attention to and to make sure that you are not in default, you
are not in deferment, you are not in forbearance that you are really dealing with it. Now you
haven't had to deal with your student loan debt if they're federal student loan debt over the
past year or so and that's going to come to an end in January because you have been really on
a moratorium granted by the federal government. Where you aren't being paid in charged
interest right now, and you haven't had to make any payments, oh shortly you will so
it is really important that you have a plan of how are you going to pay off your student
loan debt and that's a whole course into itself.
So I do want to have a question um about debt versus getting funded for something
that is going to generate you more money. Do you think there is a difference? Yeah so right now I've started up my I co-founded
a new company by the name of Securesave and you can all look at it at securesave.com and it's
the first employer-sponsored emergency savings plan for employees, first of its kind. Now I could
have funded it myself but I didn't fund it myself instead we went for seed funding and everything
and other investors invested in this idea in the hopes that they're going to make a lot of money
off of it. Right now that's debt so to speak but not debt that I'm personally responsible
for, I'm responsible for doing the best I could possibly do to make this company a serious success
so that they win big as well as I win big but most of all the employees of all the corporations in
the world win bigger, and so that's somehow using other people's money who are intelligent enough
or not to invest in you and your idea and you haven't forced them to do it that's their decision
if they want to do it or not great.
Debt when you're starting your own company you're taking out
credit card debt, you're taking out equity lines of credit, you're using up all the money that you
have, and if it doesn't work then what? then what? so if you have an idea that you want to start
and go on your own save the money and you want to invest just your money but save it that it was
extra money don't go into debt to fund a business, in my opinion. That's just my opinion. You
know there was that um curves I don't know if you remember this but it was this big fad of
a franchise of all these women opening up these these companies where women would go from machine
to machine to machine they were called curves and it took off like wildfire everybody was
making a fortune and all these women were doing it and then the whole thing went belly up and
then all these women had absolutely no money. So just be smart with what you're doing when it
comes to debt also know how to run a business, if you're taking money from yourself or for
somebody else it's not just base because you have a good idea and you just want to try this,
you have to do the research you have to do a profit and loss statement you have to know that
you can carry that business for one or two years like I expect that we have to carry secure save
although maybe not all the way through 2023 to even start making a profit, but we have the
money to do so.
So just be intelligent with your ideas and just because you can't find a way to
make a living doesn't mean you start a business. You start a business because you have a passion
and a desire and a great idea and a business plan and you know what it's going to cost
and you know all of those things. Then start something but I would really like to
see you start it with other people's money or a small business loan or something more than you
yourself going into debt and one last thing on this and part of the reason of that is there's a
lot of money power attracts money powerlessness repels it. Just like I said to you a few moments
ago that money can't do anything on its own people are the ones who buy your products, people are
the ones who hire you and give you a promotion, and or whatever it may be so when you're powerful
you attract people to you since people control money you attract money when you're powerless you
repel people. Since people control money you repel money when you are in debt debt is bondage and
it's the thing that all of you are most afraid of, so here you are you're in debt and it's now
rendered you powerless but yet you need to be powerful to attract customers and everything so
it's like this catch-22 that's my thoughts on it.
So good I think the way I went about it at least
was when I was broken almost in a welfare house was um self-education, educate yourself it
goes directly with what Suze Orman is saying, it gives you power knowledge gives you power
and you don't have to go in my opinion really and get a fancy college degree to get that power
to get that knowledge. Like literally knowledge is now a commodities readily available
for everybody on YouTube, self-educate and try to find your passion, in my opinion,
everybody needs to have their own business at this day and age I feel like just working
at corporate America is not going to cut it learn how to create multiple revenue streams
and the more power the more knowledge you gain the more you have to give to people and the more
willing people are to give you money to serve them and it goes round and ha and then hand in hand and
then instead of accumulating that debt you're now accumulating that compounding effect for
your money to grow and grow and grow and turn into a million-dollar family.
I'm gonna throw
this out there. And Suze you are like literally it, you talk about like how to become the person
to earn money and be out of debt and how to get out of debt you are the whole package. We
cannot thank you enough for your generosity to be on our show this tiny little show which we
are hoping is going to grow and you guys watching, you know what to do go ahead and smash that
like button share it with people who need to hear this they need to change themselves
in order to resolve their money issues and remember to always Make Your Money
Work For You. I'll see you next time.
