Dave, I Disagree With Your Thoughts On Credit Cards
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Ryan's with us in Sacramento hey Brian how are you hey how's it going better than I deserve what's up so I've been watching your show for a couple of days and I think you give really good advice but I do disagree with your thoughts on credit cards and that you know they're just bad overall the biggest is of course do we know the interest is that on it but you're on the premise that you'll spend more with a credit card than was past now that may be may be true but that's a general statement the general statistics and it doesn't apply to everyone there may be someone out there who can get a credit card and pay about the same price as if they would do with cash and then that would increase their credit score and you know such yeah my great grandmother died when she was 90 and she drank bourbon and smoked cigarettes every day and she used to say yeah these cigarettes won't kill me one of these days and cigarettes didn't kill her they didn't kill her she got away with it other stuff killed her when she was 90 anyone the Bourbon either okay does that make it okay for for me to say it sit here and say cigarettes are okay absolutely not ah so your logic flow doesn't even make sense how old are you 21 okay and well your logic flow is not what you're saying is it logical it's say it's like saying drunk drivers don't always kill someone so it's okay to drive drunk that's your logic flow and so it just it's not logical I doesn't work so here's the deal there's been multiple pieces of research done not just my opinion but multiple pieces of actual detailed in-depth research that shows that people spend more when there's a disconnect from the fact that they're spending money emotionally for instance when you spend cash there's one study that was done at MIP that says when you spend cash it activates the pain centers of the brain you feel it you have an ouch moment when you spend cash when you spend with a debit card it doesn't do it so much but does a little bit because you still connect that with the balance on your checking account emotionally they smell the credit card it doesn't activate it at all and consequently people spend more another example would be the basic friction on Amazon you bought stuff on Amazon I assume are you an Amazon Prime member yes ok and you realize you spend more because it's easier to spend right even spend that much on Amazon but when only time I would spend on it is if it's cheaper there than on a store yeah but you get the idea that the easier it is to buy something the more likely you are to spend over the course of your life now an individual transaction maybe maybe not ok I'm an Amazon Prime member actually my wife is I use her account but and so but so when I'm on there I do shop around like you're talking about I'm a fairly responsible guy with money I'm a multimillionaire the stuff I teach has worked for me and so but the bottom line is is that behavior in your in the way you handle payments does affect your spending patterns over the course of your life over the course of a year again an individual transaction maybe not and to your point some people are more disciplined than others but the concept is simply this the credit card is the cigarette of the financial world there's no upside to using it only downsides is it going to kill everyone no but it kills a bunch of people and financially speaking so why you know why handle snakes why you know rattlesnakes don't always kill you when you pick them up but most of them will or there's a good chance you know there's a better chance you're going to get bit if you fool with them then if you don't fool with them that kind of thing and so that's what it comes down to and really what it comes down to is not studying your feelings or your opinions it's say let's talk to wealthy people who have built wealth starting from nothing and ask them what they do with their payment structure and here's the stairs what we just finished the largest study of millionaires ever done and what we found in talking to the millionaires is they pay cash for everything some of them have a credit card and pay it off every month like you're talking about but none of them caring consumer debt of any kind ever they don't carry car debt they don't carry credit card debt I don't carry any debt of anything else and so I appreciate your opinion Brian but you're just wrong that's what it comes down to you're just wrong and the you know there's no possible way that we would ever tell anyone to use a credit card because it doesn't cause them to win it only has downside not upside I'm not gonna tell you to drive drunk you might get away with it but you might kill yourself or kill somebody else I'm not gonna tell you to smoke cigarettes you might be my great-grandmother and died of 90 of something else but it very likely will kill you it's a proven thing it's you know there's only downside there's no upside and so that's it I mean you know the downside is your breath stinks and when you smoke you smell like you lick the bottom of an ashtray and and everybody knows it you're something you're you know you smell your clothes smell like it anything else and credit card debt does the exact same thing to your financial world it stinks it up and you're just you're not gonna win screwing around with these things so again to your point can an individual from time to time do that yes a highly disciplined individual would be very unlikely to have major problems but there's no upside so why screw with the snakes they're cute you want to pet them I mean why screw with the snakes there's only one possibility screwing around the rattlesnakes get bet or not get bet I guess there's two possibilities maybe you're really good with snakes what does that prove nothing then proving anything at all so we stay away from them sir and I appreciate your call
This is the update video for week 34 of the 52 week challenge!
Thank you so much to all of the viewers! I really appreciate the comments and support that you all give! It really means a lot to me and I Thank You for it!
I hope that at least one person finds this video helpful!. When I first discovered the 52 week challenge it really changed my way of thinking regarding money management. My goal is to help at least one person discover the same way that I did to learn how to save money, how to manage money, invest it in a better way, how to make money, or supplement your income, pay an extra bill, save for retirement,…all of these things we all think about, some more than others …
(to read more about my thoughts above, scroll down beyond this next section)
If you would have thoughts about any of the books or services that I have posted below, …please feel free to let me know in the comments section below so that we can all learn something of unique value that helps us all! I would be more than happy to share it with anyone!
As promised,… here are some products and services that you might find uniquely helpful! A portion of the proceeds from the products or services below go to support the channel. If you find any of these products or services unhelpful, please leave a thumbs down along with a comment. All feedback is appreciated!
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You can grab a bag to hold your savings in with this
The link to my first video update of the 52 week challenge is here
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….. ( continued from above section ) Money is a subject that we can all relate to…, we all have experience with it at some point in our lives and for some of us, a little more of it would certainly help go a long way.
If I could just figure out what this secret code is to unlock the cash flow….lol,
….I had discovered a glimpse of this secret code a few years ago when
you’re still reading huh????…
well comment below if you really want to hear the rest of the story and Ill do a video instead of typing it all out…
all right so what's up you guys so I'm doing my update video to the 52-week challenge and as you can see here I have a lot of ones you can probably guess by the bands that are wrapped around it how many ones there are and we're going to do a quick update so also I just like to say that my new favorite sound is the sound of money going through a money counter so if you guys know what that sounds like you probably will agree with me but that's why one of the sweetest sounds that you can get to your ears so anyway without further ado let's go ahead and get get on with the with the 52-week challenge update video all right look at that doesn't that look great alright so anyway let's get started alright you guys so so where were we we were updating the 52-week challenge video so um we are on week 34 so without further ado this is the part you guys want to see so we're going to start out counting alright so let's do it alright so we have week 1 like 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 all right so that's 34 weeks of savings alright so as you can see how to come upstairs and my bonus room to do this because it's quite a bit of money so anyhow as you can see if you start out from week one and continue to save each week even when you get down to to week 34 you're essentially saving 34 dollars that week 34 dollars that you wouldn't spend for whatever you're going to be doing so anyhow so next question is probably gonna be so how much is it all together alright so if you add up all your weeks one plus two plus three plus four and so on all the way up to week 34 you should have a total of five hundred ninety five dollars alright I have a chart as well to help me keep track of this so just give me one second and this is my chart here so I have you can see all your weeks if you guys want to pause and screenshot that you can certainly do that but you'll see on week 34 you should have five hundred and ninety five dollars so week 35 is coming up soon and you'll add another thirty five dollars to your pile and that'll put you at 630 so to be honest with you this takes a lot of work counting up all the money and lining it up and all that stuff but it looks cool it's got a good effect to it and these are all ones so anyhow this is what 34 weeks worth of savings looks like in addition to that this is 595 one dollar bills okay so also if you look at the chart again you'll see that when you get to your very last week week 52 you should have a total of thirteen hundred and seventy seventy-eight dollars so again this is the 52-week challenge update this is week 34 and I'm probably going to go a couple of weeks before I give another update video because again if this does take time to to count the money out and put it out and line it up and so on and so forth it's fun and also this room smells like money which is also awesome so that is the 52-week challenge and if you just if this is your first time hearing about the 50 week challenge if you'd like to check out my first video I'll put a link in the subscript in the description box below and you can check out the first video and that kind of explains what we're doing and how we're doing it and how you can basically get in the habit of saving money so that you can have a little bit of savings towards the end of the year without kind of stretching your budget so again this is the 52 week challenge this is 34 weeks worth of savings and this is the part where I clean it all up alright so we'll start the first week here that's always cool stack it all up all right I guess you'll get to see at the end what $595 and ones looks like stacked up in a pile come on settle down settle down all right all right League 30 what's the best part of the video right here alright and last but not least week 34 all right so that's five hundred ninety five dollars in once and you can see it's a handful of money literally so stick it in my trusty rusty piggy bank where Bank and as you can see stick this in here alright that's alright I'll fix this another time get in there alright alright you guys 50 week challenge so until next time see you guys later peace
In our culture today, you might hear people say things like:
“It’s impossible to graduate from college without taking out student loans.”
“You can’t buy a car or have nice things without debt.”
“The only way to become a millionaire is to be born into a rich family.”
But believe it or not, our culture doesn’t always tell the truth. Shocking, I know.
So, in the latest episode of The Rachel Cruze Show, I’m going to set the record straight. You’ll learn:
• Three truths society doesn’t tell you about money
• How a school teacher paid off $40,000 of debt in just 14 months
• The proven plan to become a millionaire, no matter your income
Resources (everything mentioned in this episode):
Become a Financial Peace University Coordinator!
The 7 Baby Steps:
Financial Peace University:
– Well I hate to be the bearer of bad news, but society has been lying to you about your money. And as your money BFF, I'm here to make sure that you know the truth. (upbeat pop music) Listen guys, society is not always going to tell you truth. Yep, you're going to hear that you have to go into debt for things you want, and to live a life where you control your money and your future is impossible. But I'm here to tell you, that's not true. So today I'm going to show you how to do some things that society tells you are impossible— things like winning with money right now, no matter who you are, not going into debt for things you want, and becoming a millionaire, because it is still possible. So I'm going to bring on Elizabeth who did the impossible and paid off $40,000 in 14 months. And then we're going to have Chris Hogan back on to talk about how everyday people are becoming millionaires. Because again, society tells you, "To be a millionaire, you have to be rich and famous." But that is not true. So I thought it'd be fun to see what people are saying out on the street about these topics. So I sent out my friend, Will Smith— not that Will Smith, sorry, a different Will Smith— to get some insight, so take a look. – Hey guys, Will Smith here. I'm out here in Nashville. Let's go see what people have to say about this topic. – Do you have student loans? – Yes. – Yes, quite a few. – Yes. – Do you think student loans are a normal thing? – Yeah, I would say they're very normal. College is super expensive, so most people who go to college, yeah, have them. – I think most millennials, particularly, have student loans. – Do you think it's possible for someone to go to college with zero student loans? – Do I think it's possible? Yes. Do I think it's likely? No. – No. – I think you'd have to have either parents or somebody helping you out. – Do you have a car payment? – I do have a car payment. – Yep. – Yes, I have a car payment. – If you were going to buy a car tomorrow, how would you pay for that? – I would probably put a small down payment and finance the rest. – How long would it take you to save to buy a car? – With my income, I feel like it would be at least 10 years. – Maybe, two to three years. – How many millionaires do you think there are in the US? – 100,000? – 1,000. – Somewhere in the 40,000s? – I would say, maybe, anywhere between 100 and 200. – What if I told you there were 11,000,000 millionaires? – That's shocking. – Do you think you'll ever be a millionaire? – No. – Fingers crossed, maybe, one day. – We can hope. – And what is your plan, to becoming a millionaire? – I am going to become an actress. – Maybe, not teach yoga anymore. – Make wise decisions with my investments. – Probably, get internet famous. That's what most people do, right? – Do you think you could ever teach a class about finances? – No, I don't think I could ever teach a class about finances. – Not yet, no. – If someone asked you to teach a class on personal finance tomorrow, would you be able to do that? – No, but I would love to take that class, if it was offered tomorrow. – All right, let's jump into it. You can buy a car without debt. Mmm hmm. It may not be a great car, but you save up and you pay cash for a car. You can go to school without debt. It's possible. You may not be going to your dream school, or your teenager may not be going to their dream school. Stay in state, go to a community college, work, scholarships and grants, all those things, and you can still go to school without debt. And, you guys, you can become a millionaire. We'll talk about that later in the episode, but it is possible. But, there's a few things that you must do first to set yourself up for success. (whimsical piano music) Number one: You have to change your mindset. One thing I noticed, through all those interviews, is that people really believe that they just can't do it. And dealing with your money, it is 80% behavior. It's only 20% head knowledge, okay? So understanding how money works is only a very small portion of it. But doing it is actually what's going to cause change. But, in order to do something, to have action, you have to have hope. You have got to believe that you can. Number two: Stop believing the lies. Yes, society is going to tell you so many things about money. Everything—that debt is normal, and the only way to succeed and to get what you want is just the avenue of debt. That's the way it is. Guys, if that's what you believe, then you're going to be normal. Now, let me break it down for you. Normal—78% of Americans live paycheck to paycheck. That's right. Their money comes in, they pay all the bills, all the credit cards, all the car loans, all the student loans, their mortgage—everything. It goes right back out and they have nothing. They have to wait for next month's paycheck. So, if you'd like to be normal, you can be normal, but if you're sitting there, thinking, "That doesn't sound fun," or maybe that's your reality and you think, "Mmm, I can't do that." You get to change. You really, really do. Which is number three: Get on a plan. You have to be intentional. Now, this is not going to happen over night, but you have to stick to the plan. And the plan we teach, over and over and over, is the Baby Steps. The Baby Steps are seven steps that get you from zero savings, full of debt, living paycheck to paycheck, all the way to living completely debt-free, building wealth and being tremendously generous. Now, if you're not familiar with the Baby Steps, make sure to click the link below, because that video is going to show you everything about the Baby Steps, so that you can get to it. Guys, it works. I'm telling you, it works. And now, I'm so excited, because I have Elizabeth coming on, who did the steps. She's doing it. She did the impossible and made it possible. And now, she is even teaching people how to do it herself. So, take a look at her story. – I felt out of control. I felt chaotic. I felt no peace. I had $40,000 in student loan debt. I had no idea how I was going to pay off the student loan debt that I had accrued. I'm a teacher, so I had heard, "Oh, they'll forgive it after a certain number of years." So, I spoke to the student loan company and they said that the plan that I was on would never repay my student loans. She said, "We will forgive your loans when you are 50 years old, or whenever you repay it all back." And that was my moment of reality. Once I started working the Baby Steps in Financial Peace, and saw the momentum of my debt snowball starting, I felt so victorious. I felt like I had won and I had beat the system, almost. After I paid off all of my student loan debt, my coordinator reached out to me and he said, "You have a story to tell. And you did this on a teacher's salary, which people can really connect with. And they think that that can't be done." It began to click for me, that I had something special to share. So in December, I decided to be a coordinator, and I led my first class in January. And it's so inspirational to me, because it challenges me in the best ways, and it helps me be a part of something that's life changing. People are motivated and want to change their family tree, and I'm just so blessed that I get to be a part of that. – Thanks, Elizabeth. Thanks for being here. – Thank you for having me. – Yes, your story's so great. I love it, because not only did you do the impossible, what some people would say, which is pay off $40,000 in 14 months. But you overcame some myths and lies that our society believes about money. So, first and foremost, $40,000— – [Elizabeth] Yeah. – in 14 months. Okay, how did you do that? – I became gazelle intense— – [Rachel] Yes. – to use your dad's words. – I love that. – I just, worked really hard. – So, you're pretty vocal about your journey, like, you told people. – Yes, yes. – What do most people think about it? – They thought I was crazy. Especially since it was student loan debt. A lot of people would say, "You know that they'll forgive that, right?" or "After so many years, it'll be gone. You don't have to worry about it. Why are you wasting your money, now?" And I'm like, I don't want to live that way, I don't want to be indebted to someone else. – Yes, that's so good, because that's a great point, that you brought up is—there really is this myth out there, of people believing that student loans, they'll just be forgiven one day, don't worry about it. And so, you fell into that some, you feel like? – Yes, what they don't tell you when you sign the paper for your student loans, is that the loan forgiveness is very difficult to get. – Yes, it's beyond rare for that to be a reality. So the reality, for most people, is that they're going to have this debt and, if they don't do what you did, then they keep student loans around, forever and ever, and stay in debt. But you got intense. You worked like crazy amounts. Because how many jobs did you get? – I had like eight jobs, at one point. – That's unbelievable. Tell me what some of them were. I'm just curious, what'd you do? – Yeah, I worked at a bakery, part-time. Babysitting became my jam. I babysat all the time. I do calligraphy, so I would write on chalkboards and address envelopes for people. And I just tried to use any talent that I knew I had in my back pocket to help me make some extra money, on top of teaching full-time. – And you did it, yes. That's incredible. So, then you became debt-free and then became passionate about this message of living debt-free, and living intentionally, and the Baby Steps, and all that's taught in Financial Peace University. And, with the class, there's always a coordinator that helps facilitate the discussion. And you became a Financial Peace University coordinator. So, you taught a class. How'd it go? – It was so great. We had an amazing group of people and great attendance they really stuck with it. It was transformational. – Were there a few people in the class that you loved their story and you were like, wow. Like the transformation they made was unbelievable? – Yeah, there was one couple who made $120,000 total, so they had a good amount of money, but they were so in debt. – Isn't that amazing? – Yes. – I mean, seriously, though. A lot of people really believe, "If I just had more money, I could do this." I'm like, no, if you don't have good money habits, the more money you have, the bigger the mess is going to be. – Right. – And so, just because you're making a huge income, you could have a big mess, which is this family. That is always so interesting to me. So keep going, sorry. – Oh, you're fine. So, they paid off $15,000 of debt, just in the two months that they were in my course, so I was so proud of them. And now they want to be coordinators and help share their success and help people, so. – That's amazing. That's so great. So, what made you want to do this? Because not only is going to the class, somewhat a commitment. You go nine weeks and you're with a group. But when you say, "Hey, I'm going to go and do it again, and actually facilitate." It must have obviously changed your life for you to do that. So what was the why for you? – The course transformed my life so much. And I'm just so thankful that I took Financial Peace in that moment in my life, that I can't keep quiet about it. I want to tell everyone about what this course can do for you. No one taught me, growing up, how to budget, and how to save, and how to invest. And so, now that I have that knowledge, I just want to tell everyone I can. That's my why. – Yeah, it's so good. It's so good. Because so many of you watching are thinking, "Oh my gosh, we have so much debt, we don't budget," and all of this, so going through Financial Peace University, just as a member is huge. But people may be watching this and thinking, "Okay, I'm doing this. Maybe I'm on the other side," like you are. Would you say that you have to be super financially smart and that you have to have all the answers? Because some people could be intimidated by it. – Right, I would definitely say I was in that boat before I got started with being a coordinator. I thought I didn't' know enough about investing and real estate and all of the Baby Steps, past Baby Step three, basically. But, my coordinator from when I went through Financial Peace, really encouraged me and met with me and talked to me about how to be relatable and share my story. And that was what was going to connect with people. And if I didn't know the answers, I could reach out to someone and they would help me figure out the answers. – So good. Well, seriously, I know from our seat, our perspective, at Ramsey Solutions, we always say the radio show can only reach so far. Only so many people know about the podcast. Only so many people watch the shows or go to the events. But it's the coordinators that are in their cities, in their towns, all over America, thousands and thousands of you all, sitting down with people on a Tuesday night or a Wednesday night or a Sunday night and have this group. Really it becomes a family, in this class and completely transforming their lives and you spearheaded that, for you guys. So I so appreciate it, seriously. You're like in the trenches, boots on the ground, helping spread the message. It's spreading the message of hope, you guys. It's what we want—for you to take control of your money. And so, I so appreciate it and I'm so glad it was a great experience for you. – Thank you. – So, if you guys want to coordinate a Financial Peace University class, just like Elizabeth, make sure to click the link in the show notes. And, coming up next, Chris Hogan is going to come on and we're going to talk about how you can become a millionaire. (upbeat pop music) (shifter clicks) (door knocks) (latch clicks) Guys, let's be real—being a parent is hard work. Now that I have two daughters of my own, it feels like the to-do list never ends. And, as every parent knows, your priorities change and you have to make important decisions for your child's future. – That's why term life insurance is a must, for every parent. It's so easy to get and it's affordable. What you're looking for is 10 to 12 times your annual income, to make sure everyone in your family is taken care of. Winston and I use Zander Insurance. They do all of the work for you to find the best prices and options, so go to Zander.com to get started on a quote today. Because that's who we trust to take care of our family. (easy pop music) – Hogan, you're back. – I am back and I'm excited to be with you. – I'm so glad. Okay, so I can't wait to dive in, because people believe the lie that you just can't become a millionaire today. But it's a lie, people. It's a lie. So, let's go through, really quickly, the top three lies people believe, and I want you to hit me with the truth. – Okay. All right. – I mean, don't really hit me. – No, I would never do that. – That would hurt. – No, I wouldn't do that. But, I'm going to tell you the truth. – Yes, do. – Because, you're right. There are some lies out there, so. – Yes. – You lead. – First lie is: A lot of people believe, to become a millionaire, you have to inherit your money, or that millionaires, they've only become millionaires because they inherited a bunch of money. – Rachel, people actually believe this. And you know why? It's easy for people to believe that, hey, someone just handed it to them. Nobody really worked hard themselves. So here's the fact: We studied over 10,000 millionaire's all across the country. We did the largest study that's ever been done. We found out the truth. According to our research, 79% of the millionaires didn't inherit a dime. – Nothing. – Nothing. That means, that they didn't have it handed to them. This was someone that actually worked hard and built up wealth over time. So, inheritance? No. – Okay, another lie is: People say, well, I have to make a ton of money. I've got to make at least six figures in order to become a millionaire. – Rachel, this is another myth. It's not true. According to our research we had a third of the millionaires that we studied, never had a six-figure household income. Can I tell you something else? – Oh, bring it on. – Top three positions. Top three positions of the millionaires that we studied. Number one was engineers, which isn't surprising— they plan stuff. Number two was accountants. That doesn't surprise. – Makes sense, sure. – They know money. Number three blew me away. Number three was school teachers. – Okay, I love that you mentioned that, because we actually just had Elizabeth on the show. She's a teacher. She's on Baby Step six. So she's working her way there, and she will. She will become a millionaire— – She will, Rachel. – which I love. – Because she's attacking with Baby Step six, she's going to pay off the house. And then she's got that value, plus the money she's putting into her 403b. She's well on her way, because debt's not stealing from her anymore. She's being intentional. – That's right. Okay, so there's a lot of interesting things you guys found out in the survey. Things like typical millionaires, they coupon, they drive used cars, all these cool things. But I want to know the real tactical stuff. To truly have a net worth of $1,000,000 or more, there's really three big things that you have to do. Yes, all these other things help, for sure. But one of them is, when you start to win, to keep your lifestyle still at a minimum. That you don't go crazy, spending a bunch of money. No, these people—these everyday millionaires, I call them, because they're everyday men and women— you wouldn't know it, Rachel, when you met them. They knew what allowed them to get to that $1,000,000 net worth—being intentional with their money, being very focused. And yeah, they have nice things, but they save up and they pay cash for it. – It's so good. So even upping their lifestyle, just a very small percentage, they don't go crazy. – That's right. – I love that. Okay, another thing, to get you there, is investing. – Rachel, you know this is the truth, right? Can I tell you this? 80% of the millionaires we studied said the number one thing that caused them to build their $1,000,000 net worth was one thing: employer sponsored retirement plans. And one more thing: 68% of the millionaires we studied used an investment professional. That means they had someone to guide them along the way. That's why you and I talk about the SmartVestor Pros. You don't want to do this alone, right? If you've got car trouble, you go see a mechanic. If you've got a health issue, you go see a doctor. We're talking about your dreams and your future. You need to talk to an investment professional. – So good, you guys. I mean, seriously, when you're investing, your money is working for you. But I want you out of debt, to have your emergency fund in place and start down that path. – Yes. – Okay, the other big thing is paying off your house. A lot of millionaires say they got a lot of their net worth by paying off their house. – Yeah. This is the last big step. You and I know this, being plugged in with Financial Peace University. When you become 100% debt-free, and now that mortgage payment isn't leaving you anymore, that mortgage payment is there to do more for your family or to help you catch up for your retirement dreams. But, this is a big deal. So much so, that I developed a free tool. It's a net worth calculator, at my website chrishogan360.com to help people understand what is your net worth right now? And I want to explain it to your viewers. So, to get to net worth, what you take is all that you own—that's in your bank account, your 401k, your IRAs—add all that up and subtract out anything you owe on. So, what you own minus what you owe. If that end number is $1,000,000 or more, then congratulations, you're an everyday millionaire. – You're a millionaire. – That's right. – And the great thing is, we talked about it earlier in the episode, but it's so true, is that this is possible. Society is going to tell you, no, unless you're famous, or you have a rich family, there's no way you can become a millionaire. You can—anyone can—and your book is to prove it, right? – [Chris] It does prove it, yeah. – [Rachel] The "Everyday Millionaires." – That's what got me started down this path. The American dream is alive and available. What we have to do is make a decision that we're going to do it and you have to keep deciding, every day. – So good, you guys. You can do the impossible. It's possible for you. – It is possible. – Okay, if your curious about this book, because it is so good, you could actually read the first two chapters, completely for free. Just click the link below. – Are you giving away my stuff? – Just a little bit, you know. Just a giver. I'm a giver, on the show. – You are a giver. – It's called The Rachel Cruze Show. – Yeah, you are kind of in charge. – Welcome, welcome. (laughing) – You're kind of the boss. You're small, but you're the boss. – I'm bossy, sometimes, yes. – So much so. – Hogan, thanks for coming on. – Thank you, for having me. – Seriously, great information. – Good to see you. Thank you, ma'am. – All right guys, thanks for tuning in today. I loved this episode, because there's so much truth in it. And so I hope you feel encouraged, because you guys can do this. Thanks again, to Chris Hogan for coming on, and Elizabeth for sharing her story. So to get everything we talked about in this episode, make sure to click the link in the show notes. And if you've not subscribed to my podcast yet, make sure you do that, because there's always some fun bonus material there. And, as always, for you all, be sure to take control of your money and create a life you love. – Rachel Cruz. – What do you think, Chris Hogan? – I have no idea. – I think it's just really great. – It is hilarious. – Be a millionaire, Hogan. – You can become a everyday millionaire. (laughs) – All you have to do is invest. (both laughing) – No more. – That's so good. – That was hilarious.
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one of me my shotty but it's at my new body but none of nobody else Barsky no ma ho ho this whole night I'm sorry cuz bro you itself and I love nobody worries it all gotta bow back pink oh god I am on the billboard of New York City I have been dreaming to this ever since I was a little bit we took on this video and you want to know what's the T what is going on with LEM tell your son and sister here I put on Cartier I am here to tell you sisters what is going wrong with your business and how you can fix it how can you get your money keep to keep going up and up and up make sure you visit in Times Square to just see my billboard thank you so much now let's go give to it hey dolls what makes another video to the no serious and the fairies it's called doll talk I know y'all been telling me lately y'all like when I make sit-down videos talking about motivational inspirational conversational you know stuff video stuff like that it's the talk between me and you from dog to dog the first and foremost let's talk about what's obvious let's talk about my hair my hair my shirt I'm literally the brightest thing in my room right now I look like a bottle of hair dye this wig is from cranberry hair gorgeous gorgeous 6:13 wig that I got from them and I just water call it the hair I wanna call it the hair using that adored I in the color Jade it should wine hot water up at the die and dip your hearings and boom voila magic so yeah I just dip the hair into the color use only one bottle and it came out good I didn't leave the hair in I literally just left it in I was ducking and ducking it for like a good 20 minutes but yeah make sure you check out cranberry here if you want this gorgeous 613 Bob and yeah girl get you something nice sick sourcing here it's really rich good – hair that color is very good for every bright bright so yeah the link to this wig will be in description box below cranberry hair also have a lot of coupon codes that you can use right onto it you know I've been getting a lot of questions a lot of concerns that people is saying people that tell me what what they're doing wrong in their business like what's the issue stuff like that and honestly we don't get it right into it straight to the point for you to even think about what's going wrong with your business but to say you have to make investment first okay I don't know if you heard this before but the better you put in the much better you're gonna get out – people say that I think I just made that up but that's for real like you gotta put your work your all your everything cuz there's something for it to come out good okay you need a budget so whether you have a business yet or not even if your existing business owner you need a budget if you want to like to send different your business you need a budget you cannot just go ahead and just spend money on an ounce no you need to plan it out this how you save your money and this is how you do it the smart way okay so you need a budget so if you're first starting a business you want to start a business and you don't know what your budget is you want to spend under some people want to spend under $50 and 105 hundred one thousand you know people have a lot of different price ways you like different budgets however me I'm gonna select my first start of my business I just went ahead and did it I think I spent like $200 um yeah yeah I'm y'all ready no I have a crazy business history if you don't know with the girl go watch your food pass my videos okay please spend that much I didn't really plan it out and that's where I went but now I'm here to tell you guys everything because I went through everything and I've never shot one to the teeth for the wrong thing like me looking at Ford ok do not go ahead and buy all this expensive packaging expensive dis expensive that to be honest with me like when shipping the products out that outside don't matter it just as long that the product gets there safe that's what matters I don't need to spend all this money on pink bubble mailers when all they're gonna do is just throw it away when they get their package you don't need to spend all that money now that's an option I'm not telling you to just not do that at all PACA save money like expensive packaging it's it's a lot so I will go to I go with like the envelopes from the 99-cent store from Dollar Tree I use those they are very very affordable and also you have to be smart okay to save money on shipping they go by the weights um you can go back forever email however that goes but I saw a lot of small item I have you know my shipping is gonna be less money because the more the product weight the motor package makes some more they're gonna charge you if we didn't know that so for the envelopes and like um those yellow envelope stuff I use they don't really weight as much as some other um envelopes like the pad ones shipping don't be that much a smart way if a package can fit in this little envelope put it in there okay put it in there you go nice and big it's just gonna wait it's just gonna be more money when shipping it out thing is um website domains I don't know what it is but I don't like when I teach business owners whose website D my cos cosmetics dot Shopify that my Shopify calm you understand what I'm saying most people will understand one thing if you understand what I'm saying okay but I don't like those domains first of all how is this person supposed to like find you all the time like there's no message cosmetic Tony cosmetics at my shop a fighter like nobody got time for that buy a domain okay by domain so basically you can but you can have your own original domain it could be calm or a.net have you want to be but you need a good domain if you want to take your business seriously and you want people to find your website you can buy domain ru Shopify Shopify you can buy a domain right on the website if honestly listen and use create account for Shopify literally all your answers will be on Shopify you can buy a domain from there from Google and stuff like that it's only like ten dollars a year or eleven dollars a year a year not every day okay so make that investment that's that's a small investment that's just the domain honey we got to go into the next one Rinku sell products to sell to resell on your website which you know every business does by the Uyghurs for cheap and you know they sell it at it you know good resume price to get their profit you know make sure your vendor prices are good cuz you don't want to be spending so much money on this wholesale items for you to sell and then you have to double that or triple that amount for it for you to have a good profit then you're gonna be going to that era where you're over pricing your items and that's not gonna bring customers it's just gonna be like up girl well by clicking off the prices are a little bit pricey make sure it's Ali's worth it it caters to you of what you want to do now I do want to talk about should you preorder or should you have inventory on hand once a customer orders are from your website you order it from the vendor and send it off to a customer that's what that is keep all the popular items in your inventory okay all the popular items you know that this product is very popular it's gonna sell so I'm gonna sell out in the next two days keep that on hand okay because honestly pretty artists is good too you know if you don't have the money to buy everything or however your situation is let me tell you the downside of pretty ordering um you're not really gonna be making as much profit you don't want to be spending the money that you just got for the customer on the product and then you got to take away that and get your profit it's just it can be a lot sometimes I just do it that way Keith the popular items only in your inventory or if you have oh you can afford you know to keep all most of the inventory it's up to you my website I have wigs I have wholesale I have clothing I have juries acessories I have a whole lot of stuff get like a t-shirt you guys know I make my custom orders yeah guys not make the t-shirt custom so I have a lot of blank t-shirts and once I get a t-shirt order I custom make it and ship it like that so you know it's just not sitting around and you know what if it never selves you know I like to do it that way sometimes you just don't want to go through the headache of just you just want to have that item right in your inventory so I can just shove it out but you do what's good for you I am of vinda I'm a Binda so if you guys need any wholesale products right now I have rings jury necklaces my lip gloss custom t-shirts stuff like that on my website for wholesale at the moment and you also contact the wholesale number on that on the website text the number be professional be professional okay I really like I think business very seriously you know when it comes to business I'm not talking to you like you're my homegirl and being very professional very proper baby I like Alexander okay so yeah please just come professional to me say hello just thank you it would check out my whole self section on my website now what's in the whole self section is what is in the whole subsection don't go to my other sections of my website and be like is this photo no it's not okay what's your three most also host a risk even if it fails like I had so many ideas with my business before and I didn't take those risks like I was like this is not gonna happen nobody's gonna buy this nobody's gonna do that and girl you have to take a risk because basically sometimes only pressure not stopping you is you don't care somebody think is stupid who gets a goddamn it's not their goddamn money they ain't gotta look at your goddamn stuff period okay so yeah take risk even if it fails like I'm always thinking of new things from my for myself or my business and I just don't like to I just like to say Chris I like to if I have an idea if I have something in mind I'm gonna go with the girl cuz one i'ma go with people who have businesses for all the wrong reasons to just you know their money hungry they're scammers or whatever but this is my passion like I this is my passion this doing business is my passion it was never my passion to work for somebody also work for the city or the government or whatever it was never my passion like oh my god I want to work for no I was never doing that I was like oh my god I'm gonna have this for myself so it's all about roots in yourself and that's more time yourself if you see yourself stressing and you see yourself just not doing well take some time out girl and relax I tell guys I was so damn stressed these past weeks like I will just in and out of my house just going walking working picking up stuff gonna post office back and forth it's time out for yourself invest in yourselves take a day off or whatever you have to do you honey having a business change as a person or you know Media anything change like change on pricing just say having a business for me personally I don't know about anybody else but it changed me as a person it really does I think having a business just brings a whole new mentality to you you learn more cuz you're doing it everything on your own submission you're teaching your own self stuff and learning from yourself you're basically your own teacher okay so yeah um it really changed me as a person because before I had a business you know I was clueless I really wasn't taken you know what I want to do in life very soon is like I was not I didn't find my passion yet you know before but once I had my own business I was like this is my time like I literally remember um a job didn't accept me I forgot what job was and I started crying because I was like wow I have no job I can't get a job I'm have no money it's just like crazy and this happened a while ago like I think two three years ago and I was crying like oh my god like but I was like you know I'm being my own boss I didn't sell in my old wedding after high school my wigs I was selling synthetic with okay it was nothing major I was selling synthetic wigs I was you know I made a good pinion for that so basically that's when I started hustling and my husband turned into having my own business hustle hustle hustle and so I started my own business and oh my god that was the best decision of my life like being a business owner it changed me it changed my attitude I'm more I'm very confident now and let me tell you why you grow confidence as a business owner or some people don't because being a business owner you're gonna go through those times where nobody supporting you nobody supporting you nobody gonna help you nobody's gonna be there to talk to you or whatever or somebody probably gonna make fun your business you know however it goes you're gonna go through that okay you're gonna go through customers you're gonna go to people trying to scam you you're gonna go through that if you don't then you are lucky as hell you learn patience also you want to be picked you learn to be patient there's gonna be customers out there I try to test you it's just gonna be a lot so you have to you grow a whole different attitude a whole different better side yourself but let's say the downfalls of having a business also was like sometimes is a lot of stress on you now if you have a team stuff like that I don't have a team you know everything I do is with myself so sometimes or the stress everything comes back to me like if it's an issue I have to fix it you know it can be a lot sometimes so that's probably little downside but honestly the best thing you can ever do having your own business Addison's changed my attitude change so much like my attitude got worse but good I just have like a bossy attitude like you literally turn you know how you watch the movies and then there's this old lady who who's a blue the boss of the company or whatever you like give me my coffee I want my chocolate okapi and Michael up in it but dang y'all give me now and then the worker says oh yes um I'm sorry miss eclairs I'll get the bike for you you know a little sister who just run around place you know being mistreated I feel like that was sleazy that's so crazy like you just for me first I'm safe her swing cos I know but me personally I just grew that Boston tap that boss added to like I don't need you like I'm the boss I listen to what I say you know and I don't mean that in a bad way and it might sound bad but everybody like decline you or they just reject you it don't hurt you cuz you're like oh you needed me like the I'm everything I'm I'm the boss like I am that batch okay so you I grew that attitude and I want to say that attitude so more like the attitude I just genuinely don't care what people think I don't care if people don't like me I don't care people rejecting it it's just a good attitude and I'm grown that and I love it so that's how being your own boss can really change you and the better way you gotta have confidence let I have a backbone you've got to not be sensitive okay you got to get your money you got to be on time I hold them back guys um it's not the end of the world don't boohoo and cry if your bitches not doing well cuz honestly my business does you know honestly sometimes my business have slow days too you know so days differs from everybody some five orders might be a slow days to somebody one order might be so so day 100 orders might be a slow days and somebody so it different from everyone so do not think like you're the only do not think like yours is the worst thing ever oh what you're doing wrong so what I realized I was doing wrong when my business is I wasn't like promoting I wasn't like I wasn't having other people promote my stuff so I have I had outside the sphere of sending stuff people sent it free stuff to people and they never do what I say or it never happens and I have that fear so bad cuz I don't want to give somebody what I worked on for so long out of my money out of my hard work Monte for them to just not do what they're supposed to do or just still for me that's a big fear I have in honey that happened to me I swear a hell is gonna thing is gonna come down from Satan is gonna come from hell and just sooo my body just shrink somebody swear half and I still have that fear so I know that's one thing I need to work on for my business and it's finding some good promoters you know that are actually social media stars you know close to celebrities I'm trying to have the most popping person in my clothes and I also go to you guys don't make investments in the wrong people as and don't send free stuff to people that's not gonna benefit your business those four send free stuff and this person is not gonna give you the marketing the traffic that you need for your website don't do it's a waste of time okay you gotta choose wisely you gotta be smart okay that's what I'm doing I'm working on you know I'm gonna influencers people I can trust people have popping stuff like that cuz it's people who's who's really grinding out here you guys enjoyed this dog talk I really loved this definitely coming down below what other topics you want me to do I will be I will be doing more topics just coming down below don't be shy because of our business boys toys on the next if you want this chain it's on my website is a savage training it's gonna be my favorite chain ever no to my website make sure to check it out below and make sure you check out everything on my website you for the support and hasta LaVista cool I like it stop put it in there be better get that see stuff slay into your hair turning skittles