Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Ash Cash Exantus.
He is one of the world's top financial educators. Dubbed as the "Hip-Hop Financial Advisor", he uses a culturally responsive approach in teaching financial literacy, wealth building, and entrepreneurship. He is also a speaker, 6x bestselling author, and creator of the #1 Community for Financial Spirituality.Company Description *MindRight Money Management is a culturally responsive financial education company that makes money management relatable, engaging, and effective. By blending music, pop culture, and real-time current events, we meet people where they are and guide them to where they want to be financially. Through dynamic workshops, impactful books, insightful articles, and easy-to-understand resources, we empower individuals and communities to build wealth, eliminate debt, and master their money with confidence and clarity.
Talking Points/Questions *Talking Points for Interview:
1. Align Your Savings & Spending
Why is aligning savings and spending essential?How can someone start aligning their finances today?Talking Point: A financial plan is the only way to take control of your money and design the life you desire.
2. Broaden Your Earnings
Why is having multiple streams of income important?What are some practical ways families can create additional income?Talking Point: Creating multiple streams of income is essential to securing financial stability and building wealth.
3. Underwrite Your Financial Freedom Fund
What is a financial freedom fund and why is it crucial?How can someone build one efficiently?Talking Point: A financial safety net is your first line of defense against life’s uncertainties.
4. Nurture Creditworthiness
How does credit impact wealth-building? What are the best ways to improve and maintain a strong credit score? Talking Point: A strong credit score is the key that unlocks opportunities to build wealth and financial freedom.
5. Diminish Liabilities
How do you differentiate between good and bad debt? Why is eliminating bad debt so important? Talking Point: Eliminating bad debt is the fastest way to reclaim your financial power and fuel wealth creation.
6. Amplify Investments
Why is investing critical to building wealth? What types of investments should families consider? Talking Point: Your money should work harder for you than you work for it—investing is how wealth multiplies.
7. Navigate a Life Insurance Strategy
How can life insurance be used as a wealth-building tool? What strategies can families use to “become their own bank”?Talking Point: Life insurance isn’t just protection; it’s a powerful tool to build and transfer generational wealth.
8. Create a Tax Wealth Strategy
Why is tax planning essential for wealth accumulation? How can families implement effective tax strategies? Talking Point: Minimizing taxes means keeping more of your money to grow and preserve your legacy.
9. Establish Legacy
What steps should families take to protect and pass on their wealth? Why is estate planning critical for generational wealth? Talking Point: A will and trust ensure your wealth lives on, protecting your family and preserving your vision for generations.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
I'm Rashan McDonald. I host this weekly Money Making Conversation
Masterclass show. The interviews and information that this show provides
off for everyone. It's time to start reading other people's
success stories and start living your own.
Speaker 2 (00:13):
Now.
Speaker 1 (00:13):
If you want to be a guest on my show,
you have a product, a small business, you're an entrepreneur,
you're trying to get the word out, Please visit our website,
Moneymakingconversations dot com and click the b A Guest button.
Submit your information. It comes directly to me. Hey, and
you can be a guest on my show, Money Making
Conversations Masterclass. Now let's get this show started. My guest
(00:35):
as Cash. He is not a stranger to this show.
One of my most popular guests who's ever been on
this show is this gentleman. He's one of the world's
top financial educators. Dubbed as the hip hop Financial Advisor,
he uses a culturally responsive approach and teaching financial literacy,
wealth building, and entrepreneurship. He is also a speaker, six
(00:59):
time selling author, and creator of the number one community
for financial spirituality. Please welcome to the Money Making Conversation Masterclass.
I might want to call them reverend, but I want
ask cash, how you doing ask.
Speaker 2 (01:13):
I'm doing well, brother, Thank you so much. It's always
a pleasure being on man. I appreciate you well.
Speaker 1 (01:18):
You know, ask cash. You know your voice resonates, you know,
you got that right tone and with people you know,
like you know you want the people. If it's if
you're a child and you say stop, they think of
spanking about to come next up you say stop. That's
how your voice resonates with that munch authority. Now we're
talking about savings, we're talking about spending. Let's talk about
(01:39):
aligning that because right now we got tariffs coming on
in this country. We got X they went down, but
they were just up. You know, we're looking at our pocketbook.
Let's talk about where the economy is right now and
how should we move forward because we are living in
a country that's going to be dealing with tariffs. We
(01:59):
don't know how long, but we will be dealing with tariffs.
Speaker 2 (02:03):
No, absolutely, there's so much uncertainty right now happening that
it is mandatory that if we want to live financially free,
if we want to take control of our finance, our finances,
have a great financial plan, we have to allign our
savings and our spending, and simply what that means is
know your numbers, right, Know how much does it take
(02:25):
for you to live comfortably? And then create what I
like to call in you know, financial freedom fund. A
lot of people call it an emergency fund, but words
have power, and we're not calling any emergencies into our life.
And so know your numbers right, create the financial freedom fund.
You know, make sure that you know, you know, you know,
you know that you're saving at least six to eight
(02:46):
months of expenses so that when prices go up or
powers start to happen on things start to happen within
the economy that we're uncertain about, we could still live
a life that's comfortable for us. And we know which
way we're going to.
Speaker 1 (03:00):
Let me ask you this as I'm talking to Ash
Cash for the leading financial experts or financial advisors, they
call them a hip hop financial advisor. But you know
it was a bank teller and then you ran the bank.
So that means that you know, you're you're a firston
that sees opportunity. You know, I just step your step
your way into that opportunity. You just at the house
(03:21):
with your family man and you're just reading the news,
reading the stock going up and down? How do you
how do you jump rope your way in? You know,
you just can afford eggs? Can you take them out?
Can you buy your can you buy your kids clothes?
Your parent at the house. How do you want to
pair whether it's male or female or a couple, how
(03:41):
should they approach their spending today?
Speaker 2 (03:45):
Yeah? Yeah, I think I think the way you know,
definitely not spending any money on non essentials, right, and
so you know, this is a time when there's uncertainty
that financially, start to look at some things that you
may have to cut back on, things that are not necessary. Right,
the you know, the extra coffee, right instead of make it,
(04:06):
you know, instead of going to Starbucks, maybe maybe you uh,
you know, make coffee at home. Right, So, so so
start focusing on only using money for the things that
you need. Why, right, not to restrict yourself because the
more access that you have to money, not only can
you now start to take advantage right when you like
(04:27):
you mentioned the stock market. If the stock market is down,
that means it's on sale. That means that if it's
a strong company, you might have access to be able
to really, you know, take advantage of the upsling back
up right, you know, you know, so certain assets become
become on steff. So you want to make sure that
you that you have money available so that you could
(04:47):
take advantage of things. So I would just say cut
back a little bit on the things that are non
essential and then the the you know, it leaves up
that cash to be free, and then you you have
access to uh. You know, you have decisions. You can
make decisions for yourself and your family.
Speaker 1 (05:04):
And I'm giveing them a little tip here. Everybody, pride
is stopping a lot of people from taking advantage of
opportunities out there. I'm gonna tell you some Ash, I
shop with coupons. When I find the right coupons. I
shop with coupons. Now, I'm a member of every major
a grocery store loyalty plan. I'm gonna tell you something.
(05:26):
Just today, on my loyalty plan, I filled up my
truck and got a dollar off each gallon. A dollar
off each gallon I filled up today. These loyalty plans
can save you money. And guess what, I am deemed
a very successful person, Ash. But I'm successful because I
(05:48):
understand deals I understand opportunity. When I go in a
store a restaurant and they have a discount for senior citizens,
Hey that's me, raise my and so a lot of pride.
I ain't got time for that. You go into some
of these stores, they tell you on certain days you
get five times the points. On certain days certain store
(06:12):
grocery stores, you go in, they tell you you get
more points on a Friday. These loyalty programs win for you.
And also some of these programs, will you pay a
fee to be a member, can be big wins for you.
Speaker 2 (06:27):
Correct, Absolutely, And I'm glad that you said that because
I think that's the number one thing. Right, People who
don't have money worry about what people who don't have
money is going to say about them, when it should
be the opposite. You should be looking at every opportunity
to save, every opportunity to stretch your money, every opportunity
(06:48):
to change your relationship with money. Right, You've got to
working hard for money, make your money work hard for you,
and deals, loyalty programs. You know, this is a way
of stretching your money and making your money work for you.
Speaker 1 (07:00):
Absolutely. Now, when you talk about being creative, streams of income.
It's essentially secure and financial stability and building wealth. Now,
there are two things that happen when you say that
ass cash. First of all, you just gotta survive. How
do you survive and then build wealth? How can you
do the same? You know, especially in this today's economy,
we have an administration that promise they're going to reduce taxes.
(07:23):
Whether administrators promise that, hey, employment, they get in there
and they start laying off people, firing people, diminishing job
opportunities for certain people. So that confusion is like are
they there for me, the middleman, the middle class man,
lower income person. So when you have that much uncertainty
(07:44):
in front of you, how do you survive and build wealth?
Speaker 2 (07:49):
Is that possible? Yeah? Oh absolutely, So here's you know,
you know, besides you know, cutting back on spending and
things of that nature. I do think that it's important.
It's not it's important to start creating habits, right and
so you know, you know a lot of people are
because of the Internet and you know, they see what
(08:09):
they see on on on television, they want to get
rich quickly. But the truth is you need to get
rich slowly. And that what does that mean that means
that you need to create the habits that create wealth.
And so yes, you survived by really just you know,
making sure that you're taking care of the minimum of
what your necessities are. But you build wealth slowly. You
(08:30):
build wealth by saying, you know what, ten percent of
my income is going to go into investments, ten percent
of my income is going to go to uh, you know,
to saving, ten percent of my income is going to
go to personal development, right, whatever that percentage is, which
which works out because at the end of the day,
that means every single day that you get paid, every
(08:51):
week you get paid, you're using that money to advance
your wealth. And so yes, you know, for the first
month that you do it, you might not see it change.
We have something called compound interest, right, and so as
you're saving, as you're investing, all of what you're doing
is actually compounding. And so a year from now, right,
that ten percent of your income, a year from now,
(09:12):
you're gonna look up and you're gonna start now start
noticing that wealth. And then now you have more options
and more opportunities. And so yes, you can survive and
build wealth at the same time. It's just a matter
of you know what systems do you have Are you
automating your finances? Are you are you making sure that
regardless of what's going on, like, not saving and not
(09:33):
investing your money is unacceptable. I don't care how tight
your budget is, I don't care what. You know, what
you gotta do. You have to make sure that you're saving.
You have to make sure that you're investing your money,
because if you don't, you are susceptible to to job laws.
You're susceptible to you know, you know, to struggling. And
so you might as well, you know, survive and and
(09:56):
take on that uh, that temporary struggle so that you
don't you don't struggle from a from a long term perspective.
Speaker 1 (10:03):
Wow, Now, Ash, let's let's go a little bit into
the You have a number one community for financial spirituality.
What exactly is that?
Speaker 2 (10:12):
Yeah, we call it the abundance community. Right. So, a
lot of times when people think about money, they think
about money just from a practical perspective, as if you know,
if I just make more money, everything is going to
be okay, if I just you know, work hard and
that's it. But there is a spiritual component to money.
There is a mental component to money. And so you know,
(10:34):
I created the Abundance Community because regardless of you know,
what religion you believe in, whether you're Muslim, Jewish, Christian,
you know, all of the the scriptures say that you
were you were made in the image and likeness of God.
And so if you're made in the image and likeness
of God, then if God is infinite possibility, then you
are infinite possibility. And so instead of trying to take
(10:56):
you know, God and spirituality out of out of your money,
you know, I've created, you know, a community called the
Abundance Community where we are teaching you practical things on
how to live in abundance. Right, because abundance is your birthright.
But also let's not forget about your mindset, right because
think about this, right, when they say you are made
(11:17):
in an image and likeness of God, we know that
we can't see God. No one's really like God doesn't
have an image, He doesn't look like something. And so
when the scriptures talk about the image, what image are
they talking about? Well, image is the root word in imagination.
So they're saying that we are the thoughts, right, We're
(11:38):
the only living beings that could think of something and
make it so and so when we talk about image,
it's the mindset, right, you know, as a man thinking,
so shall he be? And so now it's about, you know,
teaching people how to change your mindset, how to tap
into the God within, how to also use the practical
things in order to be thank for. Do what not
(12:01):
be fruit for and maintained be fruit for a multiply
There you go.
Speaker 1 (12:05):
How can we reach you before I go to break?
Speaker 2 (12:08):
My website is I amascash dot com. Everything is there
or you can follow me on all social media platforms
at I am ass cash.
Speaker 1 (12:16):
I'm telling you how much I believe in this young
man and what he says and what he brings to
the table because financial literature is key. You know, my
audience is seven eight percent African Americans, twenty percent of
white twelve percent, or they call it the origin of
Hispanic you know, because you're when you get to seventy
eight and twenty, that's ninety eight. So how they get
twelve percent? But they figured it out. So I'm but
(12:39):
my main thing is that you know, sixty sixty five
percent my audience is between the ages of eighteen and
forty nine. That's my listening audience and the month of April.
Of this month, I particularly want to be able to
this month, I want to be able to start sharing
financial advice, literacy advice from ash cash on my platform,
(13:00):
and I want you to just go to Money Making
Conversations if you have time, just visit money Making Conversations
dot com and you'll be able to get additional information
about ash cash. And it's very This is free, this
is complimentary. This is not a charge for what I'm offering.
But I think if you hear it consistently coming from
somebody that's well respected in the community, you can only win.
(13:22):
So go to Money Making Conversation or visit Moneymaking Conversations
dot com starting this month, and you'll be able to
find valuable tools that ask cash is provide. Also will
have information about how to be successful as business owners,
how to be successful when you're hiring people, how to
be successful as leaders. All this is important for us
(13:45):
to start going to someplace where you can get this
information consistently and you can share it.
Speaker 3 (13:52):
Please don't go anywhere. We'll be right back with more
Money Making Conversations Masterclass. Welcome back to the Money Making
Conversations Masterclass hosted by Rashan MacDonald. Money Making Conversations Masterclass
continues online at Moneymakingconversations dot com and follow money Making
(14:15):
Conversations Masterclass on Facebook, Twitter, and Instagram.
Speaker 1 (14:18):
Let me educate you about my guest, ash Cash. He
was one of the world's top financial educators. Dubbed as
the hip hop Financial Advisor. He used a culturally responsive
approach in teaching financial literacy, wealth building, and entrepreneurship. He's
also speaker, six time bestselling author, and creating creator of
the number one community for financial spirituality. When we talk
(14:42):
about underwriting your financial freedom fund, what exactly when you
say that underwrite your financial freedom fund, what exactly are
you talking about? Ash Cash?
Speaker 2 (14:53):
Yeah, that's creating that financial safety net, right, because that's really,
you know, your first line of defense against life uncertainties.
You know, people you know a lot, like if you
work at nine to five. You know, I don't know
who fighter is, but I know that every time when
I see my paycheck, Fighter she takes hers first, she
takes us, she takes hers off the top right, And
(15:13):
so we got to start treating ourselves like fighter, like
the irs and stop making excuses as to why we
don't you know, we don't have money saved, and so
you know, underwriting your financial freedom fund is really creating
an automatic, you know, savings plan. And that's why you know,
we started with knowing your numbers. When you know, you
know what my you know, you know my budget is
(15:36):
two thousand you know, per per month or three thousand
or whatever that number is. Now you have to say
to yourself, all right, let me multiply that by three
to three or six, right, and so let's just say
if it's two thousand a month and expenses, then you
know you should you should at least have six to
twelve thousand dollars in a in a financial freedom fund.
(15:57):
That gives you flexibility. Right, So that way, if something
happens to your primary source of income, you're not scrambling
and having to take any opportunity or doing things that
you shouldn't be doing because you know you have this
this financial you know, safety net. So it's really automating
your finances and really get into that space where you
have that six to eight months of expenses in an account.
Speaker 1 (16:19):
You see in the score. Now, whenever you say score
around with Sean McDonald, I'm only thinking about one score.
That's that credit score. A lot of people in our
community ignore it. A lot of people walk around and
messed up credit. First of all, let's talk about how
valuable a good credit score is, and when you mess
(16:40):
it up, ask cash. Help us get back on the
straight narrow, help us get back to that score.
Speaker 2 (16:45):
Yeah, yeah, people don't realize that. Uh you know, really,
a strong credit score is the key, right It unlocks opportunities,
helps you build well financial freedom. You know, you know,
I was fortunate to become a homeowner at the early
age of twenty five, but I didn't have the money, right.
I grew up in public housing, so I didn't have money,
(17:07):
you know, staved up in order to buy this home.
So how was I able to buy this home? I
was able to save up money first and foremost, but
then I was able to use my credit to get
to get funding for the rest of it. You know,
a lot of us have you know, five hustles and
when we want to start businesses. But when we start
these businesses, we don't we're not successful with business because
you know, we don't have the capital to help us.
(17:27):
You know, you know, you know, with these businesses, and
so how do you get capital? You have to first
use your you know, personal credit to get funding for
the business. In the beginning, they might use you as
a personal guarantee. But if you don't have good credit
for how you're going to do that? So so building wealth,
you can do that with credit. And so luckily, luckily,
you know, your credit is broken down into five categories.
(17:49):
You got your payment history, you got your usage ratio,
you got the length of credit history, you have your
credit mix, and you have new credit. Right, So thirty five,
thirty fifteen ten, ten, thirty five, thirty fifteen ten, ten,
those are the percent and so thirty five percent of
your score your payment history. So if you messed up
your credit, all you have to do is make sure
that you're starting to pay your credit your on time. Right.
(18:10):
Thirty percent of your score is your usage ratio, meaning
when you have your credit cards, how are you using credit?
Are you using it? You know, is your credit limit
high or low? So you want to keep that below
thirty percent if you are, which means if you have
a thousand dollars credit only use three hundred dollars if
you want to maintain a seven hundred credit score, because
(18:31):
your credit score goes from three hundred to eight fifty.
If you want to maintain a seven hundred credit score,
which is which is excellent credit, then keep keep your
usage ratio at ten percent. You know, you know, you
know the LEMP of credit history, which is which is
fifteen percent of your score. You want to make sure
that you're not closing out any accounts. Ten percent of
your score. Your credit mixed, so you want to make
sure you have different types of credit. And then the
(18:52):
last ten percent is your new credit. So you just
want to make sure that you're not just applying for
credit just willy nilly, because the more you apply for credit,
the more is gonna negatively impact your score. So if
you remember those five things that even if you have
that credit or if you've never had credit before, you
follow those five sets, then you'll be on your way
to that excellent credit score and using that credit score
(19:15):
to help your bill.
Speaker 1 (19:15):
Wealth are rebuilding, You're credit back to a level of normalcy.
Speaker 2 (19:18):
Is that you can use it absolutely.
Speaker 1 (19:21):
Now here's a quick question. Now online my credit cards,
I keep an automatic minimum spend it automatic. Don't pay
that now. I'm not recommending anybody to do the minimum spend.
If you got a credit card debt because as you
is just paying to, you go to grade to you
die now. But that's a good way of not missing
(19:45):
a payment if you just turn on that automatic minimum pay.
Is that correct in what I'm saying, a good technique
to use ash cash because like I said, I'm the storyteller,
you are the financial guy.
Speaker 2 (20:00):
Absolutely, I would absolutely do that because you know, life happens, right,
and so imagine as life is happening, you just forget.
It's not that you don't have the money you forget
about it, but that but that one thing that you
forget about stays on your credit score at least for
forty eight months, right and so and so think about that,
that one mistake. And I just said thirty five percent
(20:21):
of your score is your payment history. And so if
you make a mistake and you forget to pay your
bill and then all of a sudden you forget to
pay that bill, and then you know, you know it
gets it gets dan. First of all, you'll get late
fees and then if it's over thirty one days late,
that's when it gets reported to your your your credit report.
That can negatively impact you. So I one thousand percent agree, yes,
(20:44):
you should you should have automated payment for the minimum amount.
But to your point, you don't want to pay those
minimums like you want to. You want to diminish your liabilities.
You want to make sure that you know the difference
between what good debt and bad debt and create a
plan so that you're eliminating bad debt.
Speaker 1 (21:03):
I'll tell you as first of all, thanks for coming
on Money Making Conversation master Class, but I wanted to
set aside a little time to talk about life insurance strategy.
Can we see a lot of commercials out there the
term life whole universal wealth building can be very life
insurance can be very key in that wealth building process.
(21:24):
But if you can walk us through the insurance world
as cash style, please tell us.
Speaker 2 (21:32):
Yeah, so I would say definitely, you know, look at
life insurance for sure, right because a lot of people
only look at it for the death benefits. But if
you have the right strategy, you can really become your
own bank, right, you can really get to that space
where you're using life insurance, especially if you you know,
get life insurance at a young age you're able to
(21:54):
you know, there's different types of life insurance, but you
can use life insurance not only for the death benefit,
but as you're accumulating tax value in your your your
life insurance policy, you could be borrowing from yourself. Right,
you could create a system where now when you need
that loan, instead of instead of borrowing that money you
know from the bank, uh, you know, and then paying
(22:16):
the bank the interests, you're borrowing the money from yourself
and paying yourself back and then building that up. Right,
you know the other strategies and I've seen many families
do this where you know, families will take out life
insurance policy and make a trust, right, create a family trust,
and make the trust the beneficiary. And so what happens
when now the whole family has life insurance and you know,
(22:38):
we don't want to see our loved ones, you know,
pass away, but everyone, all of us are going to
pass away one day. So imagine you know, having life
insurance and then that money goes into a trust and
that trust becomes the bank that people could borrow from.
So there's so many different strategies that the wealthy used
in order to you know, build wealth using life insurance.
(22:58):
And so, you know, life and insurance has to be
one of the strategies that you maintain for yourself that
you that you add in order to you know, start
start that that that wealth building process.
Speaker 1 (23:09):
As we close out, ask Cas tell everybody again about
your your your financial community, for your abundance program that
you have out there, and how people can get in
touch with you.
Speaker 2 (23:21):
Absolutely. First of all, thank you so much for having me.
Go to uh the Abundance Community dot com. That is
where the abundance community is. It's the number one community
for financial spirituality. We have something called the Abundance Formula
where you can it's non step program to build financial freedom.
(23:41):
You can go to my website I am Asscash dot com.
All of my books, my programs are there, or you
can follow me on all social media platforms at I
am as cash.
Speaker 1 (23:50):
Thank you, my brother. I appreciate you for coming on
Money Making Conversation and we will stop talk so and again.
Go to Moneymaking Conversation dot com. You will see this
brother a lot on my website because we're trying to
change lives with information information you can use.
Speaker 2 (24:04):
Thank you, Ash Cash, appreciate you.
Speaker 1 (24:07):
This has been another edition of Money Making Conversation Masterclass
hosted by me Ra Shaun McDonald. Thank you to our
guests on the show today and thank you for listening
audience now. If you want to listen to any episode
or want to be a guest on the show, visit
Moneymakingconversations dot com. Our social media handle is money Making Conversation,
So join us next week and remember to always leave
(24:30):
with your gifts. Keep winning.
Speaker 4 (25:00):
Attatatatata.
Speaker 1 (26:13):
This has been another edition of Money Making Conversation Masterclass
hosted by me Rushaun McDonald. Thank you to our guests
on the show today and thank you for listening to
the audience now. If you want to listen to any
episode I want to be a guest on the show,
visit Moneymaking Conversations dot com. Our social media handle is
money Making Conversation. Join us next week and remember to
(26:34):
always leave with your gifts. Keep winning.
I'm Rashan McDonald. I host this weekly Money Making Conversation
Masterclass show. The interviews and information that this show provides
off for everyone. It's time to start reading other people's
success stories and start living your own.
Speaker 2 (00:13):
Now.
Speaker 1 (00:13):
If you want to be a guest on my show,
you have a product, a small business, you're an entrepreneur,
you're trying to get the word out, Please visit our website,
Moneymakingconversations dot com and click the b A Guest button.
Submit your information. It comes directly to me. Hey, and
you can be a guest on my show, Money Making
Conversations Masterclass. Now let's get this show started. My guest
(00:35):
as Cash. He is not a stranger to this show.
One of my most popular guests who's ever been on
this show is this gentleman. He's one of the world's
top financial educators. Dubbed as the hip hop Financial Advisor,
he uses a culturally responsive approach and teaching financial literacy,
wealth building, and entrepreneurship. He is also a speaker, six
(00:59):
time selling author, and creator of the number one community
for financial spirituality. Please welcome to the Money Making Conversation Masterclass.
I might want to call them reverend, but I want
ask cash, how you doing ask.
Speaker 2 (01:13):
I'm doing well, brother, Thank you so much. It's always
a pleasure being on man. I appreciate you well.
Speaker 1 (01:18):
You know, ask cash. You know your voice resonates, you know,
you got that right tone and with people you know,
like you know you want the people. If it's if
you're a child and you say stop, they think of
spanking about to come next up you say stop. That's
how your voice resonates with that munch authority. Now we're
talking about savings, we're talking about spending. Let's talk about
(01:39):
aligning that because right now we got tariffs coming on
in this country. We got X they went down, but
they were just up. You know, we're looking at our pocketbook.
Let's talk about where the economy is right now and
how should we move forward because we are living in
a country that's going to be dealing with tariffs. We
(01:59):
don't know how long, but we will be dealing with tariffs.
Speaker 2 (02:03):
No, absolutely, there's so much uncertainty right now happening that
it is mandatory that if we want to live financially free,
if we want to take control of our finance, our finances,
have a great financial plan, we have to allign our
savings and our spending, and simply what that means is
know your numbers, right, Know how much does it take
(02:25):
for you to live comfortably? And then create what I
like to call in you know, financial freedom fund. A
lot of people call it an emergency fund, but words
have power, and we're not calling any emergencies into our life.
And so know your numbers right, create the financial freedom fund.
You know, make sure that you know, you know, you know,
you know that you're saving at least six to eight
(02:46):
months of expenses so that when prices go up or
powers start to happen on things start to happen within
the economy that we're uncertain about, we could still live
a life that's comfortable for us. And we know which
way we're going to.
Speaker 1 (03:00):
Let me ask you this as I'm talking to Ash
Cash for the leading financial experts or financial advisors, they
call them a hip hop financial advisor. But you know
it was a bank teller and then you ran the bank.
So that means that you know, you're you're a firston
that sees opportunity. You know, I just step your step
your way into that opportunity. You just at the house
(03:21):
with your family man and you're just reading the news,
reading the stock going up and down? How do you
how do you jump rope your way in? You know,
you just can afford eggs? Can you take them out?
Can you buy your can you buy your kids clothes?
Your parent at the house. How do you want to
pair whether it's male or female or a couple, how
(03:41):
should they approach their spending today?
Speaker 2 (03:45):
Yeah? Yeah, I think I think the way you know,
definitely not spending any money on non essentials, right, and
so you know, this is a time when there's uncertainty
that financially, start to look at some things that you
may have to cut back on, things that are not necessary. Right,
the you know, the extra coffee, right instead of make it,
(04:06):
you know, instead of going to Starbucks, maybe maybe you uh,
you know, make coffee at home. Right, So, so so
start focusing on only using money for the things that
you need. Why, right, not to restrict yourself because the
more access that you have to money, not only can
you now start to take advantage right when you like
(04:27):
you mentioned the stock market. If the stock market is down,
that means it's on sale. That means that if it's
a strong company, you might have access to be able
to really, you know, take advantage of the upsling back
up right, you know, you know, so certain assets become
become on steff. So you want to make sure that
you that you have money available so that you could
(04:47):
take advantage of things. So I would just say cut
back a little bit on the things that are non
essential and then the the you know, it leaves up
that cash to be free, and then you you have
access to uh. You know, you have decisions. You can
make decisions for yourself and your family.
Speaker 1 (05:04):
And I'm giveing them a little tip here. Everybody, pride
is stopping a lot of people from taking advantage of
opportunities out there. I'm gonna tell you some Ash, I
shop with coupons. When I find the right coupons. I
shop with coupons. Now, I'm a member of every major
a grocery store loyalty plan. I'm gonna tell you something.
(05:26):
Just today, on my loyalty plan, I filled up my
truck and got a dollar off each gallon. A dollar
off each gallon I filled up today. These loyalty plans
can save you money. And guess what, I am deemed
a very successful person, Ash. But I'm successful because I
(05:48):
understand deals I understand opportunity. When I go in a
store a restaurant and they have a discount for senior citizens,
Hey that's me, raise my and so a lot of pride.
I ain't got time for that. You go into some
of these stores, they tell you on certain days you
get five times the points. On certain days certain store
(06:12):
grocery stores, you go in, they tell you you get
more points on a Friday. These loyalty programs win for you.
And also some of these programs, will you pay a
fee to be a member, can be big wins for you.
Speaker 2 (06:27):
Correct, Absolutely, And I'm glad that you said that because
I think that's the number one thing. Right, People who
don't have money worry about what people who don't have
money is going to say about them, when it should
be the opposite. You should be looking at every opportunity
to save, every opportunity to stretch your money, every opportunity
(06:48):
to change your relationship with money. Right, You've got to
working hard for money, make your money work hard for you,
and deals, loyalty programs. You know, this is a way
of stretching your money and making your money work for you.
Speaker 1 (07:00):
Absolutely. Now, when you talk about being creative, streams of income.
It's essentially secure and financial stability and building wealth. Now,
there are two things that happen when you say that
ass cash. First of all, you just gotta survive. How
do you survive and then build wealth? How can you
do the same? You know, especially in this today's economy,
we have an administration that promise they're going to reduce taxes.
(07:23):
Whether administrators promise that, hey, employment, they get in there
and they start laying off people, firing people, diminishing job
opportunities for certain people. So that confusion is like are
they there for me, the middleman, the middle class man,
lower income person. So when you have that much uncertainty
(07:44):
in front of you, how do you survive and build wealth?
Speaker 2 (07:49):
Is that possible? Yeah? Oh absolutely, So here's you know,
you know, besides you know, cutting back on spending and
things of that nature. I do think that it's important.
It's not it's important to start creating habits, right and
so you know, you know a lot of people are
because of the Internet and you know, they see what
(08:09):
they see on on on television, they want to get
rich quickly. But the truth is you need to get
rich slowly. And that what does that mean that means
that you need to create the habits that create wealth.
And so yes, you survived by really just you know,
making sure that you're taking care of the minimum of
what your necessities are. But you build wealth slowly. You
(08:30):
build wealth by saying, you know what, ten percent of
my income is going to go into investments, ten percent
of my income is going to go to uh, you know,
to saving, ten percent of my income is going to
go to personal development, right, whatever that percentage is, which
which works out because at the end of the day,
that means every single day that you get paid, every
(08:51):
week you get paid, you're using that money to advance
your wealth. And so yes, you know, for the first
month that you do it, you might not see it change.
We have something called compound interest, right, and so as
you're saving, as you're investing, all of what you're doing
is actually compounding. And so a year from now, right,
that ten percent of your income, a year from now,
(09:12):
you're gonna look up and you're gonna start now start
noticing that wealth. And then now you have more options
and more opportunities. And so yes, you can survive and
build wealth at the same time. It's just a matter
of you know what systems do you have Are you
automating your finances? Are you are you making sure that
regardless of what's going on, like, not saving and not
(09:33):
investing your money is unacceptable. I don't care how tight
your budget is, I don't care what. You know, what
you gotta do. You have to make sure that you're saving.
You have to make sure that you're investing your money,
because if you don't, you are susceptible to to job laws.
You're susceptible to you know, you know, to struggling. And
so you might as well, you know, survive and and
(09:56):
take on that uh, that temporary struggle so that you
don't you don't struggle from a from a long term perspective.
Speaker 1 (10:03):
Wow, Now, Ash, let's let's go a little bit into
the You have a number one community for financial spirituality.
What exactly is that?
Speaker 2 (10:12):
Yeah, we call it the abundance community. Right. So, a
lot of times when people think about money, they think
about money just from a practical perspective, as if you know,
if I just make more money, everything is going to
be okay, if I just you know, work hard and
that's it. But there is a spiritual component to money.
There is a mental component to money. And so you know,
(10:34):
I created the Abundance Community because regardless of you know,
what religion you believe in, whether you're Muslim, Jewish, Christian,
you know, all of the the scriptures say that you
were you were made in the image and likeness of God.
And so if you're made in the image and likeness
of God, then if God is infinite possibility, then you
are infinite possibility. And so instead of trying to take
(10:56):
you know, God and spirituality out of out of your money,
you know, I've created, you know, a community called the
Abundance Community where we are teaching you practical things on
how to live in abundance. Right, because abundance is your birthright.
But also let's not forget about your mindset, right because
think about this, right, when they say you are made
(11:17):
in an image and likeness of God, we know that
we can't see God. No one's really like God doesn't
have an image, He doesn't look like something. And so
when the scriptures talk about the image, what image are
they talking about? Well, image is the root word in imagination.
So they're saying that we are the thoughts, right, We're
(11:38):
the only living beings that could think of something and
make it so and so when we talk about image,
it's the mindset, right, you know, as a man thinking,
so shall he be? And so now it's about, you know,
teaching people how to change your mindset, how to tap
into the God within, how to also use the practical
things in order to be thank for. Do what not
(12:01):
be fruit for and maintained be fruit for a multiply
There you go.
Speaker 1 (12:05):
How can we reach you before I go to break?
Speaker 2 (12:08):
My website is I amascash dot com. Everything is there
or you can follow me on all social media platforms
at I am ass cash.
Speaker 1 (12:16):
I'm telling you how much I believe in this young
man and what he says and what he brings to
the table because financial literature is key. You know, my
audience is seven eight percent African Americans, twenty percent of
white twelve percent, or they call it the origin of
Hispanic you know, because you're when you get to seventy
eight and twenty, that's ninety eight. So how they get
twelve percent? But they figured it out. So I'm but
(12:39):
my main thing is that you know, sixty sixty five
percent my audience is between the ages of eighteen and
forty nine. That's my listening audience and the month of April.
Of this month, I particularly want to be able to
this month, I want to be able to start sharing
financial advice, literacy advice from ash cash on my platform,
(13:00):
and I want you to just go to Money Making
Conversations if you have time, just visit money Making Conversations
dot com and you'll be able to get additional information
about ash cash. And it's very This is free, this
is complimentary. This is not a charge for what I'm offering.
But I think if you hear it consistently coming from
somebody that's well respected in the community, you can only win.
(13:22):
So go to Money Making Conversation or visit Moneymaking Conversations
dot com starting this month, and you'll be able to
find valuable tools that ask cash is provide. Also will
have information about how to be successful as business owners,
how to be successful when you're hiring people, how to
be successful as leaders. All this is important for us
(13:45):
to start going to someplace where you can get this
information consistently and you can share it.
Speaker 3 (13:52):
Please don't go anywhere. We'll be right back with more
Money Making Conversations Masterclass. Welcome back to the Money Making
Conversations Masterclass hosted by Rashan MacDonald. Money Making Conversations Masterclass
continues online at Moneymakingconversations dot com and follow money Making
(14:15):
Conversations Masterclass on Facebook, Twitter, and Instagram.
Speaker 1 (14:18):
Let me educate you about my guest, ash Cash. He
was one of the world's top financial educators. Dubbed as
the hip hop Financial Advisor. He used a culturally responsive
approach in teaching financial literacy, wealth building, and entrepreneurship. He's
also speaker, six time bestselling author, and creating creator of
the number one community for financial spirituality. When we talk
(14:42):
about underwriting your financial freedom fund, what exactly when you
say that underwrite your financial freedom fund, what exactly are
you talking about? Ash Cash?
Speaker 2 (14:53):
Yeah, that's creating that financial safety net, right, because that's really,
you know, your first line of defense against life uncertainties.
You know, people you know a lot, like if you
work at nine to five. You know, I don't know
who fighter is, but I know that every time when
I see my paycheck, Fighter she takes hers first, she
takes us, she takes hers off the top right, And
(15:13):
so we got to start treating ourselves like fighter, like
the irs and stop making excuses as to why we
don't you know, we don't have money saved, and so
you know, underwriting your financial freedom fund is really creating
an automatic, you know, savings plan. And that's why you know,
we started with knowing your numbers. When you know, you
know what my you know, you know my budget is
(15:36):
two thousand you know, per per month or three thousand
or whatever that number is. Now you have to say
to yourself, all right, let me multiply that by three
to three or six, right, and so let's just say
if it's two thousand a month and expenses, then you
know you should you should at least have six to
twelve thousand dollars in a in a financial freedom fund.
(15:57):
That gives you flexibility. Right, So that way, if something
happens to your primary source of income, you're not scrambling
and having to take any opportunity or doing things that
you shouldn't be doing because you know you have this
this financial you know, safety net. So it's really automating
your finances and really get into that space where you
have that six to eight months of expenses in an account.
Speaker 1 (16:19):
You see in the score. Now, whenever you say score
around with Sean McDonald, I'm only thinking about one score.
That's that credit score. A lot of people in our
community ignore it. A lot of people walk around and
messed up credit. First of all, let's talk about how
valuable a good credit score is, and when you mess
(16:40):
it up, ask cash. Help us get back on the
straight narrow, help us get back to that score.
Speaker 2 (16:45):
Yeah, yeah, people don't realize that. Uh you know, really,
a strong credit score is the key, right It unlocks opportunities,
helps you build well financial freedom. You know, you know,
I was fortunate to become a homeowner at the early
age of twenty five, but I didn't have the money, right.
I grew up in public housing, so I didn't have money,
(17:07):
you know, staved up in order to buy this home.
So how was I able to buy this home? I
was able to save up money first and foremost, but
then I was able to use my credit to get
to get funding for the rest of it. You know,
a lot of us have you know, five hustles and
when we want to start businesses. But when we start
these businesses, we don't we're not successful with business because
you know, we don't have the capital to help us.
(17:27):
You know, you know, you know, with these businesses, and
so how do you get capital? You have to first
use your you know, personal credit to get funding for
the business. In the beginning, they might use you as
a personal guarantee. But if you don't have good credit
for how you're going to do that? So so building wealth,
you can do that with credit. And so luckily, luckily,
you know, your credit is broken down into five categories.
(17:49):
You got your payment history, you got your usage ratio,
you got the length of credit history, you have your
credit mix, and you have new credit. Right, So thirty five,
thirty fifteen ten, ten, thirty five, thirty fifteen ten, ten,
those are the percent and so thirty five percent of
your score your payment history. So if you messed up
your credit, all you have to do is make sure
that you're starting to pay your credit your on time. Right.
(18:10):
Thirty percent of your score is your usage ratio, meaning
when you have your credit cards, how are you using credit?
Are you using it? You know, is your credit limit
high or low? So you want to keep that below
thirty percent if you are, which means if you have
a thousand dollars credit only use three hundred dollars if
you want to maintain a seven hundred credit score, because
(18:31):
your credit score goes from three hundred to eight fifty.
If you want to maintain a seven hundred credit score,
which is which is excellent credit, then keep keep your
usage ratio at ten percent. You know, you know, you
know the LEMP of credit history, which is which is
fifteen percent of your score. You want to make sure
that you're not closing out any accounts. Ten percent of
your score. Your credit mixed, so you want to make
sure you have different types of credit. And then the
(18:52):
last ten percent is your new credit. So you just
want to make sure that you're not just applying for
credit just willy nilly, because the more you apply for credit,
the more is gonna negatively impact your score. So if
you remember those five things that even if you have
that credit or if you've never had credit before, you
follow those five sets, then you'll be on your way
to that excellent credit score and using that credit score
(19:15):
to help your bill.
Speaker 1 (19:15):
Wealth are rebuilding, You're credit back to a level of normalcy.
Speaker 2 (19:18):
Is that you can use it absolutely.
Speaker 1 (19:21):
Now here's a quick question. Now online my credit cards,
I keep an automatic minimum spend it automatic. Don't pay
that now. I'm not recommending anybody to do the minimum spend.
If you got a credit card debt because as you
is just paying to, you go to grade to you
die now. But that's a good way of not missing
(19:45):
a payment if you just turn on that automatic minimum pay.
Is that correct in what I'm saying, a good technique
to use ash cash because like I said, I'm the storyteller,
you are the financial guy.
Speaker 2 (20:00):
Absolutely, I would absolutely do that because you know, life happens, right,
and so imagine as life is happening, you just forget.
It's not that you don't have the money you forget
about it, but that but that one thing that you
forget about stays on your credit score at least for
forty eight months, right and so and so think about that,
that one mistake. And I just said thirty five percent
(20:21):
of your score is your payment history. And so if
you make a mistake and you forget to pay your
bill and then all of a sudden you forget to
pay that bill, and then you know, you know it
gets it gets dan. First of all, you'll get late
fees and then if it's over thirty one days late,
that's when it gets reported to your your your credit report.
That can negatively impact you. So I one thousand percent agree, yes,
(20:44):
you should you should have automated payment for the minimum amount.
But to your point, you don't want to pay those
minimums like you want to. You want to diminish your liabilities.
You want to make sure that you know the difference
between what good debt and bad debt and create a
plan so that you're eliminating bad debt.
Speaker 1 (21:03):
I'll tell you as first of all, thanks for coming
on Money Making Conversation master Class, but I wanted to
set aside a little time to talk about life insurance strategy.
Can we see a lot of commercials out there the
term life whole universal wealth building can be very life
insurance can be very key in that wealth building process.
(21:24):
But if you can walk us through the insurance world
as cash style, please tell us.
Speaker 2 (21:32):
Yeah, so I would say definitely, you know, look at
life insurance for sure, right because a lot of people
only look at it for the death benefits. But if
you have the right strategy, you can really become your
own bank, right, you can really get to that space
where you're using life insurance, especially if you you know,
get life insurance at a young age you're able to
(21:54):
you know, there's different types of life insurance, but you
can use life insurance not only for the death benefit,
but as you're accumulating tax value in your your your
life insurance policy, you could be borrowing from yourself. Right,
you could create a system where now when you need
that loan, instead of instead of borrowing that money you
know from the bank, uh, you know, and then paying
(22:16):
the bank the interests, you're borrowing the money from yourself
and paying yourself back and then building that up. Right,
you know the other strategies and I've seen many families
do this where you know, families will take out life
insurance policy and make a trust, right, create a family trust,
and make the trust the beneficiary. And so what happens
when now the whole family has life insurance and you know,
(22:38):
we don't want to see our loved ones, you know,
pass away, but everyone, all of us are going to
pass away one day. So imagine you know, having life
insurance and then that money goes into a trust and
that trust becomes the bank that people could borrow from.
So there's so many different strategies that the wealthy used
in order to you know, build wealth using life insurance.
(22:58):
And so, you know, life and insurance has to be
one of the strategies that you maintain for yourself that
you that you add in order to you know, start
start that that that wealth building process.
Speaker 1 (23:09):
As we close out, ask Cas tell everybody again about
your your your financial community, for your abundance program that
you have out there, and how people can get in
touch with you.
Speaker 2 (23:21):
Absolutely. First of all, thank you so much for having me.
Go to uh the Abundance Community dot com. That is
where the abundance community is. It's the number one community
for financial spirituality. We have something called the Abundance Formula
where you can it's non step program to build financial freedom.
(23:41):
You can go to my website I am Asscash dot com.
All of my books, my programs are there, or you
can follow me on all social media platforms at I
am as cash.
Speaker 1 (23:50):
Thank you, my brother. I appreciate you for coming on
Money Making Conversation and we will stop talk so and again.
Go to Moneymaking Conversation dot com. You will see this
brother a lot on my website because we're trying to
change lives with information information you can use.
Speaker 2 (24:04):
Thank you, Ash Cash, appreciate you.
Speaker 1 (24:07):
This has been another edition of Money Making Conversation Masterclass
hosted by me Ra Shaun McDonald. Thank you to our
guests on the show today and thank you for listening
audience now. If you want to listen to any episode
or want to be a guest on the show, visit
Moneymakingconversations dot com. Our social media handle is money Making Conversation,
So join us next week and remember to always leave
(24:30):
with your gifts. Keep winning.
Speaker 4 (25:00):
Attatatatata.
Speaker 1 (26:13):
This has been another edition of Money Making Conversation Masterclass
hosted by me Rushaun McDonald. Thank you to our guests
on the show today and thank you for listening to
the audience now. If you want to listen to any
episode I want to be a guest on the show,
visit Moneymaking Conversations dot com. Our social media handle is
money Making Conversation. Join us next week and remember to
(26:34):
always leave with your gifts. Keep winning.
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