December 17, 2023 • 28 mins
In this episode, I'm having a conversation with Tiffany Largie, CEO and founder of DO THE DAMN THING, exploring alternatives to conventional investment methods like stocks and bonds. Tiffany and I navigate how small businesses can be a powerful asset for wealth creation, especially if it's something you're actually passionate about. We also explain the concept of robo investing and share some of the best online platforms for managing investments. More than that, we're going to talk about black-owned banks in the money arena and the potential cons of banking with big institutions.
So, let’s dissect the changing economy, spread some truth around recession, and discuss investor impacts on the US housing market. I'm sure you've noticed the rising costs of airline tickets and skyrocketing car prices, but don't worry, I have a tried and true 4/10 rule for buying cars.
Let’s go!
Thank you for listening to The Millionaire Mindset Podcast with George Dines.
To connect with George visit www.georgedines.com
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
a common sense millionaire here.
I got a very special momentcoming up.
I was actually walking down thestreet one day and I actually
ran into one of the mostimportant people that I have met
in the last five years of mylife.
That's Tiffany Largy.
We had a ridiculousconversation and I just want to
(00:21):
share with you some of the itemsthat we talked about.
It was just incredible moment.
It was hot as hell outside butwe had to come inside so that we
could finish up theconversation because it was a
hundred and something degrees.
But that's okay.
Here we go.
I hope you all enjoy this andas much as I enjoyed speaking
(00:43):
with her, I guess we'll just getgoing.
Welcome to the Common SenseMillionaire, where we work to
promote your financialadvancement in knowledge,
process and education so thatyou and your family become
financially secure.
This is the place I sharecommon sense action steps that
you can take today to assistyour financial advancement.
(01:04):
So sit back, grab a drink andlet's get started.
Speaker 2 (01:09):
Tell me about this thing.
Every business owner I knowstarted their business for one
or two reasons.
Either one they're like me andthey had to create like they had
to solve a real-world problem.
Yes, right, like for me.
I was putting my kids to bedhungry.
I was always angry, frustrated,and me starting a hustle, first
(01:29):
because I just sold my way, andthen figuring out how to take
my hustle or my ability to sellinto a business is how I ended
up today.
But there are other people whothey're like oh my gosh, I need
to be a trillion era and I needfive bettonlies, Do you still?
I believe that a small businessis the way to wealth, faster
than anything else.
(01:49):
That's my perspective.
I want to hear is that crazyfor you?
Speaker 1 (01:57):
It's not crazy.
I mean, that's how everythingstarted.
That's how Henry Ford started,in a barn trying to put together
a car.
And look where Ford is now.
Speaker 2 (02:07):
Yeah, yeah, for sure.
Speaker 1 (02:08):
It's not where it used to be because he's gone, so
the impetus that went intomaking this grow is not the same
as it was 75 years ago,whatever.
Yeah, yeah, yeah but yeah,business is really it, Because
most people are doing somethingthat they really love.
Speaker 2 (02:26):
Yeah.
Speaker 1 (02:26):
And this in our lives is really one of the few
opportunities that we have to dosomething that we really love.
Speaker 2 (02:35):
I agree.
Speaker 1 (02:35):
Okay, how many of you all are out there just doing
stuff for a check?
Correct?
There is nothing worse thanjust doing something for a check
, and that's where this world ismoving.
Speaker 2 (02:45):
We're saying that, say that in these streets there
is nothing worse than doingsomething for a check.
I can't even.
Oh man, that is it, yeah.
Speaker 1 (02:55):
Once you start doing something just for the check,
you're going down the road of anegative, repetitive activity.
And one way that you can breakout of that is if you have a
particular talent, if you have aparticular skill that you can
market itself, give it a shot.
That's what really makes thecountry grow.
Speaker 2 (03:16):
Let me ask you this.
So about eight years ago and Ijust want to get your feedback
on this I shot a video and it'scalled the fastest way to wealth
and in the video it says youknow, every guru tells you that
you need to invest in stock andbonds, you need to get real
estate.
But I was like, forget thosetwo avenues.
(03:37):
For me, both of those I needsomething to make something.
That's my philosophy.
Speaker 1 (03:44):
Yeah, okay.
So Investments are a good thing.
The key is, yeah, you do needsome type of institutional
investments for your savings.
Speaker 2 (03:55):
Institutional.
You're going to break that down.
I need English.
I need like poor man's wordshere.
Speaker 1 (03:59):
You need to put some money in the stock market.
Okay, over the past, overhistory.
Speaker 2 (04:05):
Is it like $50?
I need.
Speaker 1 (04:06):
Well, no, you could.
Speaker 2 (04:08):
You looked at me you were like what?
$50.
Speaker 1 (04:10):
Whatever you got hey, whatever you got Okay.
Okay, I respect that and $50 isnot going to open an account
for you.
Some places have minimums, okay, unless you want to try to do
it yourself, which I do notrecommend Really.
No Now, for instance, for me.
Speaker 2 (04:25):
You don't recommend doing it yourself.
Hold on, hold on.
Do you mean like opening theaccount online?
The Shars Schwab thing?
Speaker 1 (04:31):
And like Well with a company like that, and I try not
to use company names- but,those, a lot of those companies
require that there's a brokerInvolved.
Okay, so yeah, your money isgoing to pay for that guy's
salary.
Speaker 2 (04:43):
Got it.
Speaker 1 (04:44):
I have played with what they call robo investing,
where I just invest money on amonthly basis.
Wait what was that name.
It's called robo investing.
Speaker 2 (04:52):
Robo investing For all the people like me.
I want to make sure you havethe English version.
Speaker 1 (04:58):
Yes, and that's where algorithm determines what is
going to make up your portfolio.
Or you say that, hey, I'm goingto.
Robo investing.
Speaker 2 (05:08):
Robo investing.
Speaker 1 (05:09):
So I have an account where I play with that.
Yeah, yeah, and I'm very happywith the performance.
Speaker 2 (05:15):
So robo investing money's being pulled out
automatically.
How do you bank account forthree months?
All this automated stuff.
Yeah, it's got to be automated,got it, so it's being pulled
out.
It goes into some something.
Speaker 1 (05:25):
I've made a determination of how I want the
assets allocated.
Okay, the money is split, goesinto that asset.
Speaker 2 (05:32):
Give it dirty.
What are the three onlineplaces?
If I were going to go to ourbrowser that you would suggest
that or that you like.
Maybe that you're notsuggesting, because we can't
suggest anything.
Speaker 1 (05:42):
Yeah, but what do you like?
Yes, we're not making asuggestion.
Speaker 2 (05:45):
We're not making a suggestion.
I'm not an accountant.
Speaker 1 (05:48):
The one that I'm going to go with, one that I
think that I like, that I haveworked with.
Okay, it's a wealth front.
Okay, I would.
I would really look at thatWealth front.
Wealth front, got it.
And guess what?
Tell me, doesn't cost youanything, uh.
Speaker 2 (06:06):
Uh, but isn't that?
Speaker 1 (06:08):
There's no.
There's no fees.
Speaker 2 (06:09):
But isn't that that Robinhood thing?
Speaker 1 (06:11):
no, fees thing too?
No, it's not.
Is that equal to?
Speaker 2 (06:14):
I'm not talking about the Robinhood, listen, I'm so
back words that think of me aslike I know that I know that
it's something to think, that Iand like I have all the
knowledge and all the fancywords.
Speaker 1 (06:26):
I understand, but I'm literally like Robinhood was
rather interesting when it firstcame out Fantastic.
But it's no longer standingthere by itself.
It was purchased by a majorcompany.
Speaker 2 (06:37):
Fair enough Okay.
Speaker 1 (06:38):
So typically.
So I don't know what's going onwith it.
You know in detail, don't worryabout it, but typically, you
know, usually when the big guysget involved, there's fee
structures that they're lookingfor Totally.
So that's why I look for justyou know, very simple.
I say I want 10% by this assetclass.
My money gets allocated.
(06:59):
Okay, I have a way of not, Idon't look at this stuff because
you look at it, you're like, oh, maybe I'm smarter than the
people or the algorithm or themarket.
No, you're really not.
So I'm just going with it, I'mplaying with it, I have some
money in there and I want to beable to tell people hey, look,
you know, this worked for me.
So something that you mightwant to think about, got it.
(07:23):
Most recently, I had my niece.
Okay, she just graduated fromcollege.
I pulled her aside.
I said look, you know whatYou're going to be making money.
Now.
I said do you want to be likethe majority of people out there
that when they're in their 60s,they don't have anything or
they don't have enough saved totake them to 85.
Okay, I said you need to startsaving now.
(07:44):
I said do you want to be rich?
She says yes, then you have tolisten to what I'm telling you
and you need to start puttingyour money away so that 30 years
from now, you have over amillion dollars.
Okay, I said you got to stopthe spending.
None of the fake jewelry anddesigner clothes and all of
these things that are reallywaste of money.
(08:05):
Okay, because the Gucci bag ina good mean crap when you're 80
years old and you can't eatanything.
Speaker 2 (08:11):
But hold on, wait a second, because I want to talk
from a business owner'sperspective.
Sure, what if the Gucci baggets her a man?
No, no, I'm serious becausethere's an idea, just like in
your knees?
Speaker 1 (08:25):
How does the Gucci bag get you a man?
Speaker 2 (08:28):
Listen, it's just like in business.
So there's a rule of thumb thatif I look and dress a certain
way, I'm always going to get acertain type of a customer or
client.
I'm a man, uh-oh.
Speaker 1 (08:37):
Okay.
Speaker 2 (08:38):
This is getting awkward.
Speaker 1 (08:38):
I see somebody with a whole bunch of Gucci and Louis
Vuitton and everything You'rerunning the other direction.
That's a waste of time becausetheir mind is not focused where
I think it should be.
Speaker 2 (08:49):
Got it.
So you're like uh-uh, yeah, Imean, I just Do you feel the
same way when you do businesswith people?
Like, think about the vendorsand customers and clients?
That I'm not clients.
Speaker 1 (08:59):
Well, it's the ones I have to turn away.
Who, um, uh, they have abusiness.
It might be successful, yeah,okay, but not paying stuff on
time, not planning for theirtaxes, and what happens with
that?
Folk like that okay, 10, youknow they get nice cars and all
this other kind of stuff, but atthe end of the day it doesn't
(09:20):
give them anything.
Yeah, what you're going to dowith the car.
Speaker 2 (09:24):
Got it.
Okay, this is fair.
So for you you're like mm.
I think a rule of thumb forsure for everybody is get rid of
the expenses.
Speaker 1 (09:33):
Foolishness, the foolishness I'm telling you.
In my opinion, 30 years fromnow, this country's going to
look different.
I mean, I'm going to be old ashell then, so, but I think that
people are not getting preparedand understanding the changes
that are occurring and they'renot being prepared for that.
(09:54):
So you know, I don't want tosound like a conspiracy person
or anything like that no, no, no.
I appreciate this the key isthat we've got to change how
we're interacting financiallyand I think also, as African
Americans especially, have tochange.
Okay, Because you know we'rebuying things that create no
(10:16):
value.
Speaker 2 (10:17):
We're buying things black people.
Can I call them black?
Speaker 1 (10:20):
Yeah, you can call them black folk.
Speaker 2 (10:21):
Okay, I have a hard time with African.
Americans, that's okay, blackfolks are buying things that
sometimes don't have long value.
Speaker 1 (10:30):
It doesn't make sense .
This doesn't make sense.
A handbag five grand, okay, youcould invest that.
Okay, pretty much, you know, 10percent time over time at some
point.
Speaker 2 (10:41):
It's going to become something.
What does that mean?
Time over time?
Speaker 1 (10:45):
Over year annual periods, yeah, so in the future.
In the future, yeah.
Speaker 2 (10:51):
I'm breaking that word down for all of the people
who might ever listen to this,who are just a business owner
and they know how to make a lotof money.
Speaker 1 (11:00):
Okay, and you were talking about the man, right.
So I said, yeah, I'm a man.
Well, this is what men do, thisis what I think men do, so let
me, here we go.
Speaker 2 (11:07):
I'm going to be.
This is going to get good.
This is going to get personal.
Here, let me lean in.
This is what men do.
Speaker 1 (11:10):
This is going to get good.
I'm closing my eyes for thisbecause I don't want to hear it.
So my wife, my wife and herfamily everyone in her family
lives to over 90.
Okay, okay, over 90.
Everyone in my family is, like,typically gone by 75.
(11:34):
Okay.
So, as a man, okay, I have tomake sure that my wife is good,
so that she's not eating catfood at 90.
Okay, so everything I do is setup for that.
Yep, okay, yes, there'senjoyment, we have fun, we take
trips and all that.
(11:55):
But at the end of the day, myjob is to make sure that she's
good.
And that was the only way thatI figured that I could do it,
which was how do I accumulateassets for both of us in
retirement, but primarily forher, because she's going to be
around 1995.
That's just how it is.
That's the reality.
Speaker 2 (12:16):
I love that.
Speaker 1 (12:16):
Face the reality.
Speaker 2 (12:18):
That's like the cutest love story.
I didn't know, george even hadthat in you, but it doesn't
surprise me.
Speaker 1 (12:27):
I had difficulty.
I had to almost start fromscratch.
It was difficult as hell.
Okay, how old were you?
Speaker 2 (12:35):
Not how old are you?
What chapter, what phase wereyou at in your life?
Not how old were you, whatphase were you at?
Because for me, I feel like Ihave started over more than once
, and I think that's the waylife is, though.
Speaker 1 (12:46):
Yeah, it is.
I mean, I was at 40, 42 orsomething like that and I was
like what the hell?
I don't have, I don't have shit.
I don't have anything as muchsaved as needed.
Totally, I had to get creditback in shape.
Okay, I couldn't go buy a car,right, and so, yeah, things
(13:07):
started over.
I relocated, picked up somevery pretty good positions,
well-paying positions thatallowed me to advance, Okay, and
to get in there and take careof the future.
Speaker 2 (13:23):
I get it.
I get it, I get it, I hear it.
What do you feel like?
Is the number one myth thatyou're hearing around?
That around, just like money inthe US.
What's one of the myths thatyou're like?
Oh, I bought humbug.
Is there really a recessioncoming.
Speaker 1 (13:38):
I feel like it's already here.
You know, if there were arecession, you know, you know
love you and everything, but Iwouldn't be here If I knew that
I'd be a genius, but I don'tknow so much a recession as a
change.
I think, it's yes, Just saychange.
I agree 100%.
I don't know about therecession thing.
Speaker 2 (13:55):
What do you think about this housing thing that's
happening?
All these investors who havecome through the US bought up a
gazillion houses for platformslike Airbnb, like here in this
city during, you know, superbowlwas here, and I remember having
quite a few conversations withpeople who had portfolios, or,
either directly or indirectly,with people who had portfolios
of you know, 30, 40 propertiesin here ready to rake up for
(14:18):
Superbowl, only to find out that, as packed as we were here,
that 50% of their inventory justsat and I thought to myself
that's crazy, because they arethe first people who came in,
drove up the pricing market.
They completely pushed outsingle moms.
In my opinion, they completelypushed out average families from
being able to just buy a pieceof property.
They lopsided the market, buythemselves and now, and on top
(14:42):
of that, these properties cameand they sat.
What's your thought or feelingaround the truth of where we are
, the housing market, and myrandom annoyance with investors
at that level?
Speaker 1 (14:54):
It's very difficult because it depends on where you
live.
Okay, so I'm, you know, I'mfrom the Washington DC Maryland
area.
So right now in that area, inthat space, okay, the money, the
big money, has kind of beenspent.
So a lot of properties in thatarea are cash only, sales Shut
(15:20):
up.
So, especially in the higherprice ranges, it's cash only.
Okay, there's not.
Speaker 2 (15:26):
I need a moment for that.
Speaker 1 (15:27):
Not doing a $2 million mortgage right.
So now those people, it appears, are satisfied and happy.
So market is kind of changing,okay, and what's also happening
is, because of the increase inthe interest rates, it's making
things much more expensive forfolks.
So it's kind of difficult.
Speaker 2 (15:49):
Are people moving out ?
Are they moving out of there?
Speaker 1 (15:52):
Not really.
You know, DC is kind of state.
The DC area is stable becauseseat of government is there, so
it's a continual flow in and outof people.
So that's so interesting.
It's kind of difficult for folkand families.
Now this thing you were talkingabout Airbnb, so the city of DC
(16:14):
has decided to regulate howthose things are managed.
Speaker 2 (16:20):
Oh, they are yeah, to make some housing available.
Speaker 1 (16:24):
But look, I've talked to guys and they're talking
about how they may make $5,000or $6,000 a week off of a
property.
So it's kind of interesting andyou can do that in DC because
of people still wanting to gothere for tourism and all of
that and don't want to stay inhotels.
I mean, we've seen priceincreases everywhere.
Speaker 2 (16:47):
Yes.
Speaker 1 (16:48):
Let's talk about airline tickets.
Speaker 2 (16:49):
Oh, don't even.
Oh, my God, don't even get meto that topic.
What the hell is happening?
What the hell is happening,yeah, Airline tickets are
ridiculous.
It's crazy that their airlinetickets are ridiculous and that
they're able to cancel, like theamount of customer service or
customer experience has justgone, ooh, and they maintain the
price.
And the craziest thing for meis sometimes, especially this
(17:12):
year, going onto a plane.
I'm like the plane's fullBecause I didn't expect that,
you know.
I'm like wait a second, thesetickets were $700 and this thing
is full.
Oh my gosh.
Speaker 1 (17:23):
So let's go to the thing I hate the most car prices
.
Speaker 2 (17:28):
You've talked about this before.
Speaker 1 (17:30):
No, no, this is out of control.
I mean, I went just to look atsome cars and because I've had
mine car for a few years, it'sall paid off yeah yeah, yeah.
Well, I'm not getting anothercar right now.
That's just not happeningBecause prices are ridiculous.
You go to some of the car lotsand I wanted a little SUV and
they have like markups on it forlike $10, $15,000 on the car.
(17:54):
Insane and I'm like what thehell?
What the hell?
Because of tarot it's going on.
And then who the hell is payingthis Tarot?
They're talking about peoplewho are now have a monthly
payment of like around athousand bucks on a car.
Speaker 2 (18:07):
On a regular car.
It is in On a car Insane.
Speaker 1 (18:11):
So you know my rule.
Speaker 2 (18:13):
I know your rule For buying a car Isn't the rule the
410, rule the 410.
Speaker 1 (18:17):
Give it Four year least car no more than four
years old and 10,000 miles.
Okay, a year, Okay, I don'tknow where you're going to find
that now.
I have a guy who helped me getthe car.
He goes out to the auction forme picks the car and comes back
(18:40):
but can't find what.
He can't find what I want and,as a matter of fact, I've given
him a bunch of referrals andhe's having a hard time finding
what these folk want.
So I don't know, it doesn'tmake sense.
It's not making any sense.
What's?
The solution for this, the 410rule is a problem now because
these cars are so expensive thatwhen people either lease them
(19:01):
or pay for them, they don't dothe maintenance on it.
Speaker 2 (19:04):
No, they don't.
Speaker 1 (19:05):
They don't want to pay the maintenance?
Speaker 2 (19:07):
Okay, they don't, and they don't feel like they need
to, because they're going to begetting rid of this car.
Anyway, the car anyway, and Ithink, that's a good reason
because of the amount ofincentives, especially coming
after the pandemic, as themanufacturers.
I wanted to use the wordrecover, but I have so many
mixed feelings about whatrecovery really is for these
companies because they paintthese.
But there's so many companiespainted these pictures I've got.
(19:29):
I'm recovering and I need torecover, but then you look at
that report at the end of theyear and you're like you made
how much in profit.
What are you talking about?
Literally Like it's the mostasinine ass backwards kind of
approach for me and I say tomyself how, what's the win?
(19:51):
Is the win even for me?
Like, as I teach people, is thewin for me to teach people how
to make more money?
Yes, I can, but I almost can'tteach them anymore about making
more money without teaching themhow to be better with money
that's correct and how tonavigate.
What the hell is happening?
Speaker 1 (20:08):
I'll be in a meeting and someone's like well, how can
I?
I save money?
I said well, I said let's,let's look at this.
I said I can guarantee almostlet's say almost guarantee I can
save you $4,000 a year rightoff the bat.
Speaker 2 (20:23):
Okay, tell me how to save $4,000 a year.
Speaker 1 (20:25):
Cancel, your damn cable Cancel your cable.
Anybody paying a cable bill of350 a month.
Oh yes, you have lost yourfreaking mind, correct, okay.
Speaker 2 (20:34):
It doesn't make any sense to me.
Speaker 1 (20:36):
I have not had this argument, I bet I was like no
People are paying 350 a month.
As a matter of fact, when Itold a client that they didn't
like that message, I said wellthat's right.
Speaker 2 (20:45):
You told me about that.
Speaker 1 (20:47):
I said yeah, you want to save 4,000 a year here.
This is it, Boom, Boom.
You could use that for this.
We have got to figure this outas people, as everybody has got
to figure this out.
Speaker 2 (20:59):
Everyone has got to figure this out.
Yeah, I find that you know mymoney's savanness, so I'm going
to tell you something youprobably don't know.
I don't think anybody knowsabout this, but you're about to
hear I know this is coming andwe can't turn back from this.
Okay, so let me take a deepbreath.
20 years ago maybe a little lessthan 20 years ago I was a
(21:22):
coup-bonner oh, okay, no, no,the extreme couponer, okay, and
I used to have 20 to 30newspaper papers every single
Sunday and cut coupons.
I Used to get my family to getinvolved in this.
Did you ever know this about me?
I Used to get my family, mykids, everybody.
(21:44):
But let me take you one stepfurther.
I'm gonna show you how seriousand deep this is, because I want
you guys to be like oh, she'swins a storm bot.
20 papers no, the truth is thatsometimes I couldn't come up
with the papers because theywould all be gone.
But guess where I would go togo get them?
The garbage I would dumpster,dive into the garbage Crawl
inside.
(22:04):
I want everyone to get thisvisual because of how important
Saving money, having more money,being in control of my money,
was now.
Before that, I didn't come fromlike this long line of like,
like money saviness.
I actually, jada, maya, werereally young and we just were in
such a bad world, bad situationFinancially, and I went to
(22:27):
visit a church one day and theladies you know how those women
surround you and suck you up andthey'll like come to Bible
study or woman something group.
They didn't know who they weretalking to, but I went to it
anyways and as I was sittingthere, I thought the whole thing
was useless and very upset.
And then someone went oh, Icaught my coupons and she had
this very neat binder.
(22:47):
Now I'm telling you thisbecause she had this binder and
all it took was me seeing thisbinder and then making a
decision.
The truth is that I feel likeevery person can make a crazy
money decision right now, wherethey are and sometimes You're
you make the decision, you getgoing and then you spiral out of
control.
Every time that I like, everytime that I Think about me
(23:12):
couponing, it's probably one ofthe happiest times of my life
and I owned a hustle there, nota big business, but I say it's
one of the happiest times of mylife because I was so on top of
how much did I spend for thatthing?
Like to the penny.
So I was a person who went intothe grocery store 200 dollars
(23:33):
worth of groceries, paid $5, andand for me, like I felt like it
was a way of life.
And just last Month, mydaughter, or last month or two
months ago, my daughter was likemom, we should start couponing
again and it wasn't out of aplace of need.
But I realized that the actionwas tied to the behavior.
Speaker 1 (23:51):
Okay.
So let me ask you this Allright, you do this couponing,
right?
So let's just say, at theheight of your, of your
couponing, let's just say, forour units sake, you had it was
the Sunday paper which usuallyhas the most coupons, right?
Yeah, all right, so let's allright.
How much did you say of a month?
Speaker 2 (24:10):
well, this is a little excuse just from the
coupons because I was buying tosave, but I was also buying to
sell no, no, I understand, butthat's.
Speaker 1 (24:19):
But when you were Saving, how much did you say?
Speaker 2 (24:23):
I don't know about the month.
Okay, so I would say a couplethousand dollars a year.
Speaker 1 (24:26):
But I think you kind of got to where I was going.
So you, you, you saved, butthen you use that to fund a
business to sell.
Speaker 2 (24:36):
Yes, I would buy more products.
Yes, that's fine.
Speaker 1 (24:40):
That's what you made money totally okay.
So what'd you do with the money?
Paid bills okay.
Speaker 2 (24:49):
Point, the whole point is I could use it to
invest.
That's exactly right.
Speaker 1 (24:53):
Yes, I exactly were engaging in a, in a business
activity which most people 90,95 percent of people- wouldn't
be doing correct.
So that's why you know I wastrying to get you on that one.
No, but I didn't work becauseyou know we did what.
I was going to recommend Ibuilt it, but I invested.
Speaker 2 (25:09):
That's my point.
I wasn't investment the sameway.
Businesses and investment,that's fine.
Speaker 1 (25:14):
That's fine.
But I'm saying most people theysave the money.
Well, what do you do with themoney?
Do you do?
You say, they just do the moneyand say I'm gonna put this in
the savings account, or is itone of those Situations where oh
well, you know, I want thehandbag or something that's fine
.
Speaker 2 (25:29):
They just throw it.
Speaker 1 (25:30):
I watch those, those coupon shows when the people are
come on, but they they nevergive the result at the end.
What was the end result of allof them in this?
Speaker 2 (25:38):
No, they don't give the result at the end, and
that's what we all need to see.
Speaker 1 (25:42):
We all need to see a damn result for what we're doing
.
Speaker 2 (25:46):
You know, I tell you what I know we got to get out of
here, but I, you know even methinking about couponing.
I think my, I think that's I.
I maybe didn't understandstocks and bonds back then, but
I definitely understoodinvesting.
Speaker 1 (26:04):
Well, most people don't trust it.
I'm speaking for my family.
My father did invest, but henever trusted it.
But he came from an era whereyou couldn't go to an
African-American person at anyof the major brokerages Okay,
(26:25):
they didn't work, they weren'tallowed to work there, correct,
okay.
And this was the age when youpaid huge commissions and
basically went to pay for thesalaries of the people.
Speaker 2 (26:37):
Yeah, yeah.
Speaker 1 (26:38):
So he didn't trust the system Totally Because we
were not allowed to play in thesystem.
Speaker 2 (26:44):
Yep.
Speaker 1 (26:45):
Okay, I get it, but now we can.
Speaker 2 (26:47):
Yes.
Speaker 1 (26:49):
We have black-owned banks that, unfortunately, I
don't think we utilize enough orwork with.
Speaker 2 (26:59):
I wanna hear you talk about that in the future.
That's an interesting topic forsure.
I don't want you to go therenow because I know we could be
here all day.
But I'm like but black-ownedbanks that we don't really use,
period, got it Okay?
I?
Speaker 1 (27:14):
mean, we put money in that big bank that had the
stagecoach that basically justripped off their own clients.
Okay, and we were some of thoseclients, correct, and we
haven't moved.
Speaker 2 (27:25):
And we haven't moved.
We kept our money right there.
We kept our money in the samebank.
We're like, yes, you did thewhole thing.
Basically, we're like it's okay, yep, it's okay, it's not okay.
It's not no, George Dineseverybody.
Okay, George Dines everybody.
Speaker 1 (27:41):
So that's great.
One day I'll see.
Oh, I guess he's turning it offnow, right?
Speaker 2 (27:49):
No, he's still going.
He's turning it off now.
No, he's not turning it off,he's still going.
Oh man, this is the bloopersection.
This is no.
This is going straight on theepisode.
Oh no.
Speaker 1 (28:02):
You've been listening to the Common Sense Millionaire
, where you can learn how to gofrom zero to a million using
common sense solutions toeveryday financial issues.
Make sure and subscribe to stayconnected with more content,
tools and help so you canadvance towards your financial
goals.
If you need assistance or havequestions, leave a comment or
(28:22):
you can email me at george atcommonsensemillionairecom.
a common sense millionaire here.
I got a very special momentcoming up.
I was actually walking down thestreet one day and I actually
ran into one of the mostimportant people that I have met
in the last five years of mylife.
That's Tiffany Largy.
We had a ridiculousconversation and I just want to
(00:21):
share with you some of the itemsthat we talked about.
It was just incredible moment.
It was hot as hell outside butwe had to come inside so that we
could finish up theconversation because it was a
hundred and something degrees.
But that's okay.
Here we go.
I hope you all enjoy this andas much as I enjoyed speaking
(00:43):
with her, I guess we'll just getgoing.
Welcome to the Common SenseMillionaire, where we work to
promote your financialadvancement in knowledge,
process and education so thatyou and your family become
financially secure.
This is the place I sharecommon sense action steps that
you can take today to assistyour financial advancement.
(01:04):
So sit back, grab a drink andlet's get started.
Speaker 2 (01:09):
Tell me about this thing.
Every business owner I knowstarted their business for one
or two reasons.
Either one they're like me andthey had to create like they had
to solve a real-world problem.
Yes, right, like for me.
I was putting my kids to bedhungry.
I was always angry, frustrated,and me starting a hustle, first
(01:29):
because I just sold my way, andthen figuring out how to take
my hustle or my ability to sellinto a business is how I ended
up today.
But there are other people whothey're like oh my gosh, I need
to be a trillion era and I needfive bettonlies, Do you still?
I believe that a small businessis the way to wealth, faster
than anything else.
(01:49):
That's my perspective.
I want to hear is that crazyfor you?
Speaker 1 (01:57):
It's not crazy.
I mean, that's how everythingstarted.
That's how Henry Ford started,in a barn trying to put together
a car.
And look where Ford is now.
Speaker 2 (02:07):
Yeah, yeah, for sure.
Speaker 1 (02:08):
It's not where it used to be because he's gone, so
the impetus that went intomaking this grow is not the same
as it was 75 years ago,whatever.
Yeah, yeah, yeah but yeah,business is really it, Because
most people are doing somethingthat they really love.
Speaker 2 (02:26):
Yeah.
Speaker 1 (02:26):
And this in our lives is really one of the few
opportunities that we have to dosomething that we really love.
Speaker 2 (02:35):
I agree.
Speaker 1 (02:35):
Okay, how many of you all are out there just doing
stuff for a check?
Correct?
There is nothing worse thanjust doing something for a check
, and that's where this world ismoving.
Speaker 2 (02:45):
We're saying that, say that in these streets there
is nothing worse than doingsomething for a check.
I can't even.
Oh man, that is it, yeah.
Speaker 1 (02:55):
Once you start doing something just for the check,
you're going down the road of anegative, repetitive activity.
And one way that you can breakout of that is if you have a
particular talent, if you have aparticular skill that you can
market itself, give it a shot.
That's what really makes thecountry grow.
Speaker 2 (03:16):
Let me ask you this.
So about eight years ago and Ijust want to get your feedback
on this I shot a video and it'scalled the fastest way to wealth
and in the video it says youknow, every guru tells you that
you need to invest in stock andbonds, you need to get real
estate.
But I was like, forget thosetwo avenues.
(03:37):
For me, both of those I needsomething to make something.
That's my philosophy.
Speaker 1 (03:44):
Yeah, okay.
So Investments are a good thing.
The key is, yeah, you do needsome type of institutional
investments for your savings.
Speaker 2 (03:55):
Institutional.
You're going to break that down.
I need English.
I need like poor man's wordshere.
Speaker 1 (03:59):
You need to put some money in the stock market.
Okay, over the past, overhistory.
Speaker 2 (04:05):
Is it like $50?
I need.
Speaker 1 (04:06):
Well, no, you could.
Speaker 2 (04:08):
You looked at me you were like what?
$50.
Speaker 1 (04:10):
Whatever you got hey, whatever you got Okay.
Okay, I respect that and $50 isnot going to open an account
for you.
Some places have minimums, okay, unless you want to try to do
it yourself, which I do notrecommend Really.
No Now, for instance, for me.
Speaker 2 (04:25):
You don't recommend doing it yourself.
Hold on, hold on.
Do you mean like opening theaccount online?
The Shars Schwab thing?
Speaker 1 (04:31):
And like Well with a company like that, and I try not
to use company names- but,those, a lot of those companies
require that there's a brokerInvolved.
Okay, so yeah, your money isgoing to pay for that guy's
salary.
Speaker 2 (04:43):
Got it.
Speaker 1 (04:44):
I have played with what they call robo investing,
where I just invest money on amonthly basis.
Wait what was that name.
It's called robo investing.
Speaker 2 (04:52):
Robo investing For all the people like me.
I want to make sure you havethe English version.
Speaker 1 (04:58):
Yes, and that's where algorithm determines what is
going to make up your portfolio.
Or you say that, hey, I'm goingto.
Robo investing.
Speaker 2 (05:08):
Robo investing.
Speaker 1 (05:09):
So I have an account where I play with that.
Yeah, yeah, and I'm very happywith the performance.
Speaker 2 (05:15):
So robo investing money's being pulled out
automatically.
How do you bank account forthree months?
All this automated stuff.
Yeah, it's got to be automated,got it, so it's being pulled
out.
It goes into some something.
Speaker 1 (05:25):
I've made a determination of how I want the
assets allocated.
Okay, the money is split, goesinto that asset.
Speaker 2 (05:32):
Give it dirty.
What are the three onlineplaces?
If I were going to go to ourbrowser that you would suggest
that or that you like.
Maybe that you're notsuggesting, because we can't
suggest anything.
Speaker 1 (05:42):
Yeah, but what do you like?
Yes, we're not making asuggestion.
Speaker 2 (05:45):
We're not making a suggestion.
I'm not an accountant.
Speaker 1 (05:48):
The one that I'm going to go with, one that I
think that I like, that I haveworked with.
Okay, it's a wealth front.
Okay, I would.
I would really look at thatWealth front.
Wealth front, got it.
And guess what?
Tell me, doesn't cost youanything, uh.
Speaker 2 (06:06):
Uh, but isn't that?
Speaker 1 (06:08):
There's no.
There's no fees.
Speaker 2 (06:09):
But isn't that that Robinhood thing?
Speaker 1 (06:11):
no, fees thing too?
No, it's not.
Is that equal to?
Speaker 2 (06:14):
I'm not talking about the Robinhood, listen, I'm so
back words that think of me aslike I know that I know that
it's something to think, that Iand like I have all the
knowledge and all the fancywords.
Speaker 1 (06:26):
I understand, but I'm literally like Robinhood was
rather interesting when it firstcame out Fantastic.
But it's no longer standingthere by itself.
It was purchased by a majorcompany.
Speaker 2 (06:37):
Fair enough Okay.
Speaker 1 (06:38):
So typically.
So I don't know what's going onwith it.
You know in detail, don't worryabout it, but typically, you
know, usually when the big guysget involved, there's fee
structures that they're lookingfor Totally.
So that's why I look for justyou know, very simple.
I say I want 10% by this assetclass.
My money gets allocated.
(06:59):
Okay, I have a way of not, Idon't look at this stuff because
you look at it, you're like, oh, maybe I'm smarter than the
people or the algorithm or themarket.
No, you're really not.
So I'm just going with it, I'mplaying with it, I have some
money in there and I want to beable to tell people hey, look,
you know, this worked for me.
So something that you mightwant to think about, got it.
(07:23):
Most recently, I had my niece.
Okay, she just graduated fromcollege.
I pulled her aside.
I said look, you know whatYou're going to be making money.
Now.
I said do you want to be likethe majority of people out there
that when they're in their 60s,they don't have anything or
they don't have enough saved totake them to 85.
Okay, I said you need to startsaving now.
(07:44):
I said do you want to be rich?
She says yes, then you have tolisten to what I'm telling you
and you need to start puttingyour money away so that 30 years
from now, you have over amillion dollars.
Okay, I said you got to stopthe spending.
None of the fake jewelry anddesigner clothes and all of
these things that are reallywaste of money.
(08:05):
Okay, because the Gucci bag ina good mean crap when you're 80
years old and you can't eatanything.
Speaker 2 (08:11):
But hold on, wait a second, because I want to talk
from a business owner'sperspective.
Sure, what if the Gucci baggets her a man?
No, no, I'm serious becausethere's an idea, just like in
your knees?
Speaker 1 (08:25):
How does the Gucci bag get you a man?
Speaker 2 (08:28):
Listen, it's just like in business.
So there's a rule of thumb thatif I look and dress a certain
way, I'm always going to get acertain type of a customer or
client.
I'm a man, uh-oh.
Speaker 1 (08:37):
Okay.
Speaker 2 (08:38):
This is getting awkward.
Speaker 1 (08:38):
I see somebody with a whole bunch of Gucci and Louis
Vuitton and everything You'rerunning the other direction.
That's a waste of time becausetheir mind is not focused where
I think it should be.
Speaker 2 (08:49):
Got it.
So you're like uh-uh, yeah, Imean, I just Do you feel the
same way when you do businesswith people?
Like, think about the vendorsand customers and clients?
That I'm not clients.
Speaker 1 (08:59):
Well, it's the ones I have to turn away.
Who, um, uh, they have abusiness.
It might be successful, yeah,okay, but not paying stuff on
time, not planning for theirtaxes, and what happens with
that?
Folk like that okay, 10, youknow they get nice cars and all
this other kind of stuff, but atthe end of the day it doesn't
(09:20):
give them anything.
Yeah, what you're going to dowith the car.
Speaker 2 (09:24):
Got it.
Okay, this is fair.
So for you you're like mm.
I think a rule of thumb forsure for everybody is get rid of
the expenses.
Speaker 1 (09:33):
Foolishness, the foolishness I'm telling you.
In my opinion, 30 years fromnow, this country's going to
look different.
I mean, I'm going to be old ashell then, so, but I think that
people are not getting preparedand understanding the changes
that are occurring and they'renot being prepared for that.
(09:54):
So you know, I don't want tosound like a conspiracy person
or anything like that no, no, no.
I appreciate this the key isthat we've got to change how
we're interacting financiallyand I think also, as African
Americans especially, have tochange.
Okay, Because you know we'rebuying things that create no
(10:16):
value.
Speaker 2 (10:17):
We're buying things black people.
Can I call them black?
Speaker 1 (10:20):
Yeah, you can call them black folk.
Speaker 2 (10:21):
Okay, I have a hard time with African.
Americans, that's okay, blackfolks are buying things that
sometimes don't have long value.
Speaker 1 (10:30):
It doesn't make sense .
This doesn't make sense.
A handbag five grand, okay, youcould invest that.
Okay, pretty much, you know, 10percent time over time at some
point.
Speaker 2 (10:41):
It's going to become something.
What does that mean?
Time over time?
Speaker 1 (10:45):
Over year annual periods, yeah, so in the future.
In the future, yeah.
Speaker 2 (10:51):
I'm breaking that word down for all of the people
who might ever listen to this,who are just a business owner
and they know how to make a lotof money.
Speaker 1 (11:00):
Okay, and you were talking about the man, right.
So I said, yeah, I'm a man.
Well, this is what men do, thisis what I think men do, so let
me, here we go.
Speaker 2 (11:07):
I'm going to be.
This is going to get good.
This is going to get personal.
Here, let me lean in.
This is what men do.
Speaker 1 (11:10):
This is going to get good.
I'm closing my eyes for thisbecause I don't want to hear it.
So my wife, my wife and herfamily everyone in her family
lives to over 90.
Okay, okay, over 90.
Everyone in my family is, like,typically gone by 75.
(11:34):
Okay.
So, as a man, okay, I have tomake sure that my wife is good,
so that she's not eating catfood at 90.
Okay, so everything I do is setup for that.
Yep, okay, yes, there'senjoyment, we have fun, we take
trips and all that.
(11:55):
But at the end of the day, myjob is to make sure that she's
good.
And that was the only way thatI figured that I could do it,
which was how do I accumulateassets for both of us in
retirement, but primarily forher, because she's going to be
around 1995.
That's just how it is.
That's the reality.
Speaker 2 (12:16):
I love that.
Speaker 1 (12:16):
Face the reality.
Speaker 2 (12:18):
That's like the cutest love story.
I didn't know, george even hadthat in you, but it doesn't
surprise me.
Speaker 1 (12:27):
I had difficulty.
I had to almost start fromscratch.
It was difficult as hell.
Okay, how old were you?
Speaker 2 (12:35):
Not how old are you?
What chapter, what phase wereyou at in your life?
Not how old were you, whatphase were you at?
Because for me, I feel like Ihave started over more than once
, and I think that's the waylife is, though.
Speaker 1 (12:46):
Yeah, it is.
I mean, I was at 40, 42 orsomething like that and I was
like what the hell?
I don't have, I don't have shit.
I don't have anything as muchsaved as needed.
Totally, I had to get creditback in shape.
Okay, I couldn't go buy a car,right, and so, yeah, things
(13:07):
started over.
I relocated, picked up somevery pretty good positions,
well-paying positions thatallowed me to advance, Okay, and
to get in there and take careof the future.
Speaker 2 (13:23):
I get it.
I get it, I get it, I hear it.
What do you feel like?
Is the number one myth thatyou're hearing around?
That around, just like money inthe US.
What's one of the myths thatyou're like?
Oh, I bought humbug.
Is there really a recessioncoming.
Speaker 1 (13:38):
I feel like it's already here.
You know, if there were arecession, you know, you know
love you and everything, but Iwouldn't be here If I knew that
I'd be a genius, but I don'tknow so much a recession as a
change.
I think, it's yes, Just saychange.
I agree 100%.
I don't know about therecession thing.
Speaker 2 (13:55):
What do you think about this housing thing that's
happening?
All these investors who havecome through the US bought up a
gazillion houses for platformslike Airbnb, like here in this
city during, you know, superbowlwas here, and I remember having
quite a few conversations withpeople who had portfolios, or,
either directly or indirectly,with people who had portfolios
of you know, 30, 40 propertiesin here ready to rake up for
(14:18):
Superbowl, only to find out that, as packed as we were here,
that 50% of their inventory justsat and I thought to myself
that's crazy, because they arethe first people who came in,
drove up the pricing market.
They completely pushed outsingle moms.
In my opinion, they completelypushed out average families from
being able to just buy a pieceof property.
They lopsided the market, buythemselves and now, and on top
(14:42):
of that, these properties cameand they sat.
What's your thought or feelingaround the truth of where we are
, the housing market, and myrandom annoyance with investors
at that level?
Speaker 1 (14:54):
It's very difficult because it depends on where you
live.
Okay, so I'm, you know, I'mfrom the Washington DC Maryland
area.
So right now in that area, inthat space, okay, the money, the
big money, has kind of beenspent.
So a lot of properties in thatarea are cash only, sales Shut
(15:20):
up.
So, especially in the higherprice ranges, it's cash only.
Okay, there's not.
Speaker 2 (15:26):
I need a moment for that.
Speaker 1 (15:27):
Not doing a $2 million mortgage right.
So now those people, it appears, are satisfied and happy.
So market is kind of changing,okay, and what's also happening
is, because of the increase inthe interest rates, it's making
things much more expensive forfolks.
So it's kind of difficult.
Speaker 2 (15:49):
Are people moving out ?
Are they moving out of there?
Speaker 1 (15:52):
Not really.
You know, DC is kind of state.
The DC area is stable becauseseat of government is there, so
it's a continual flow in and outof people.
So that's so interesting.
It's kind of difficult for folkand families.
Now this thing you were talkingabout Airbnb, so the city of DC
(16:14):
has decided to regulate howthose things are managed.
Speaker 2 (16:20):
Oh, they are yeah, to make some housing available.
Speaker 1 (16:24):
But look, I've talked to guys and they're talking
about how they may make $5,000or $6,000 a week off of a
property.
So it's kind of interesting andyou can do that in DC because
of people still wanting to gothere for tourism and all of
that and don't want to stay inhotels.
I mean, we've seen priceincreases everywhere.
Speaker 2 (16:47):
Yes.
Speaker 1 (16:48):
Let's talk about airline tickets.
Speaker 2 (16:49):
Oh, don't even.
Oh, my God, don't even get meto that topic.
What the hell is happening?
What the hell is happening,yeah, Airline tickets are
ridiculous.
It's crazy that their airlinetickets are ridiculous and that
they're able to cancel, like theamount of customer service or
customer experience has justgone, ooh, and they maintain the
price.
And the craziest thing for meis sometimes, especially this
(17:12):
year, going onto a plane.
I'm like the plane's fullBecause I didn't expect that,
you know.
I'm like wait a second, thesetickets were $700 and this thing
is full.
Oh my gosh.
Speaker 1 (17:23):
So let's go to the thing I hate the most car prices
.
Speaker 2 (17:28):
You've talked about this before.
Speaker 1 (17:30):
No, no, this is out of control.
I mean, I went just to look atsome cars and because I've had
mine car for a few years, it'sall paid off yeah yeah, yeah.
Well, I'm not getting anothercar right now.
That's just not happeningBecause prices are ridiculous.
You go to some of the car lotsand I wanted a little SUV and
they have like markups on it forlike $10, $15,000 on the car.
(17:54):
Insane and I'm like what thehell?
What the hell?
Because of tarot it's going on.
And then who the hell is payingthis Tarot?
They're talking about peoplewho are now have a monthly
payment of like around athousand bucks on a car.
Speaker 2 (18:07):
On a regular car.
It is in On a car Insane.
Speaker 1 (18:11):
So you know my rule.
Speaker 2 (18:13):
I know your rule For buying a car Isn't the rule the
410, rule the 410.
Speaker 1 (18:17):
Give it Four year least car no more than four
years old and 10,000 miles.
Okay, a year, Okay, I don'tknow where you're going to find
that now.
I have a guy who helped me getthe car.
He goes out to the auction forme picks the car and comes back
(18:40):
but can't find what.
He can't find what I want and,as a matter of fact, I've given
him a bunch of referrals andhe's having a hard time finding
what these folk want.
So I don't know, it doesn'tmake sense.
It's not making any sense.
What's?
The solution for this, the 410rule is a problem now because
these cars are so expensive thatwhen people either lease them
(19:01):
or pay for them, they don't dothe maintenance on it.
Speaker 2 (19:04):
No, they don't.
Speaker 1 (19:05):
They don't want to pay the maintenance?
Speaker 2 (19:07):
Okay, they don't, and they don't feel like they need
to, because they're going to begetting rid of this car.
Anyway, the car anyway, and Ithink, that's a good reason
because of the amount ofincentives, especially coming
after the pandemic, as themanufacturers.
I wanted to use the wordrecover, but I have so many
mixed feelings about whatrecovery really is for these
companies because they paintthese.
But there's so many companiespainted these pictures I've got.
(19:29):
I'm recovering and I need torecover, but then you look at
that report at the end of theyear and you're like you made
how much in profit.
What are you talking about?
Literally Like it's the mostasinine ass backwards kind of
approach for me and I say tomyself how, what's the win?
(19:51):
Is the win even for me?
Like, as I teach people, is thewin for me to teach people how
to make more money?
Yes, I can, but I almost can'tteach them anymore about making
more money without teaching themhow to be better with money
that's correct and how tonavigate.
What the hell is happening?
Speaker 1 (20:08):
I'll be in a meeting and someone's like well, how can
I?
I save money?
I said well, I said let's,let's look at this.
I said I can guarantee almostlet's say almost guarantee I can
save you $4,000 a year rightoff the bat.
Speaker 2 (20:23):
Okay, tell me how to save $4,000 a year.
Speaker 1 (20:25):
Cancel, your damn cable Cancel your cable.
Anybody paying a cable bill of350 a month.
Oh yes, you have lost yourfreaking mind, correct, okay.
Speaker 2 (20:34):
It doesn't make any sense to me.
Speaker 1 (20:36):
I have not had this argument, I bet I was like no
People are paying 350 a month.
As a matter of fact, when Itold a client that they didn't
like that message, I said wellthat's right.
Speaker 2 (20:45):
You told me about that.
Speaker 1 (20:47):
I said yeah, you want to save 4,000 a year here.
This is it, Boom, Boom.
You could use that for this.
We have got to figure this outas people, as everybody has got
to figure this out.
Speaker 2 (20:59):
Everyone has got to figure this out.
Yeah, I find that you know mymoney's savanness, so I'm going
to tell you something youprobably don't know.
I don't think anybody knowsabout this, but you're about to
hear I know this is coming andwe can't turn back from this.
Okay, so let me take a deepbreath.
20 years ago maybe a little lessthan 20 years ago I was a
(21:22):
coup-bonner oh, okay, no, no,the extreme couponer, okay, and
I used to have 20 to 30newspaper papers every single
Sunday and cut coupons.
I Used to get my family to getinvolved in this.
Did you ever know this about me?
I Used to get my family, mykids, everybody.
(21:44):
But let me take you one stepfurther.
I'm gonna show you how seriousand deep this is, because I want
you guys to be like oh, she'swins a storm bot.
20 papers no, the truth is thatsometimes I couldn't come up
with the papers because theywould all be gone.
But guess where I would go togo get them?
The garbage I would dumpster,dive into the garbage Crawl
inside.
(22:04):
I want everyone to get thisvisual because of how important
Saving money, having more money,being in control of my money,
was now.
Before that, I didn't come fromlike this long line of like,
like money saviness.
I actually, jada, maya, werereally young and we just were in
such a bad world, bad situationFinancially, and I went to
(22:27):
visit a church one day and theladies you know how those women
surround you and suck you up andthey'll like come to Bible
study or woman something group.
They didn't know who they weretalking to, but I went to it
anyways and as I was sittingthere, I thought the whole thing
was useless and very upset.
And then someone went oh, Icaught my coupons and she had
this very neat binder.
(22:47):
Now I'm telling you thisbecause she had this binder and
all it took was me seeing thisbinder and then making a
decision.
The truth is that I feel likeevery person can make a crazy
money decision right now, wherethey are and sometimes You're
you make the decision, you getgoing and then you spiral out of
control.
Every time that I like, everytime that I Think about me
(23:12):
couponing, it's probably one ofthe happiest times of my life
and I owned a hustle there, nota big business, but I say it's
one of the happiest times of mylife because I was so on top of
how much did I spend for thatthing?
Like to the penny.
So I was a person who went intothe grocery store 200 dollars
(23:33):
worth of groceries, paid $5, andand for me, like I felt like it
was a way of life.
And just last Month, mydaughter, or last month or two
months ago, my daughter was likemom, we should start couponing
again and it wasn't out of aplace of need.
But I realized that the actionwas tied to the behavior.
Speaker 1 (23:51):
Okay.
So let me ask you this Allright, you do this couponing,
right?
So let's just say, at theheight of your, of your
couponing, let's just say, forour units sake, you had it was
the Sunday paper which usuallyhas the most coupons, right?
Yeah, all right, so let's allright.
How much did you say of a month?
Speaker 2 (24:10):
well, this is a little excuse just from the
coupons because I was buying tosave, but I was also buying to
sell no, no, I understand, butthat's.
Speaker 1 (24:19):
But when you were Saving, how much did you say?
Speaker 2 (24:23):
I don't know about the month.
Okay, so I would say a couplethousand dollars a year.
Speaker 1 (24:26):
But I think you kind of got to where I was going.
So you, you, you saved, butthen you use that to fund a
business to sell.
Speaker 2 (24:36):
Yes, I would buy more products.
Yes, that's fine.
Speaker 1 (24:40):
That's what you made money totally okay.
So what'd you do with the money?
Paid bills okay.
Speaker 2 (24:49):
Point, the whole point is I could use it to
invest.
That's exactly right.
Speaker 1 (24:53):
Yes, I exactly were engaging in a, in a business
activity which most people 90,95 percent of people- wouldn't
be doing correct.
So that's why you know I wastrying to get you on that one.
No, but I didn't work becauseyou know we did what.
I was going to recommend Ibuilt it, but I invested.
Speaker 2 (25:09):
That's my point.
I wasn't investment the sameway.
Businesses and investment,that's fine.
Speaker 1 (25:14):
That's fine.
But I'm saying most people theysave the money.
Well, what do you do with themoney?
Do you do?
You say, they just do the moneyand say I'm gonna put this in
the savings account, or is itone of those Situations where oh
well, you know, I want thehandbag or something that's fine
.
Speaker 2 (25:29):
They just throw it.
Speaker 1 (25:30):
I watch those, those coupon shows when the people are
come on, but they they nevergive the result at the end.
What was the end result of allof them in this?
Speaker 2 (25:38):
No, they don't give the result at the end, and
that's what we all need to see.
Speaker 1 (25:42):
We all need to see a damn result for what we're doing
.
Speaker 2 (25:46):
You know, I tell you what I know we got to get out of
here, but I, you know even methinking about couponing.
I think my, I think that's I.
I maybe didn't understandstocks and bonds back then, but
I definitely understoodinvesting.
Speaker 1 (26:04):
Well, most people don't trust it.
I'm speaking for my family.
My father did invest, but henever trusted it.
But he came from an era whereyou couldn't go to an
African-American person at anyof the major brokerages Okay,
(26:25):
they didn't work, they weren'tallowed to work there, correct,
okay.
And this was the age when youpaid huge commissions and
basically went to pay for thesalaries of the people.
Speaker 2 (26:37):
Yeah, yeah.
Speaker 1 (26:38):
So he didn't trust the system Totally Because we
were not allowed to play in thesystem.
Speaker 2 (26:44):
Yep.
Speaker 1 (26:45):
Okay, I get it, but now we can.
Speaker 2 (26:47):
Yes.
Speaker 1 (26:49):
We have black-owned banks that, unfortunately, I
don't think we utilize enough orwork with.
Speaker 2 (26:59):
I wanna hear you talk about that in the future.
That's an interesting topic forsure.
I don't want you to go therenow because I know we could be
here all day.
But I'm like but black-ownedbanks that we don't really use,
period, got it Okay?
I?
Speaker 1 (27:14):
mean, we put money in that big bank that had the
stagecoach that basically justripped off their own clients.
Okay, and we were some of thoseclients, correct, and we
haven't moved.
Speaker 2 (27:25):
And we haven't moved.
We kept our money right there.
We kept our money in the samebank.
We're like, yes, you did thewhole thing.
Basically, we're like it's okay, yep, it's okay, it's not okay.
It's not no, George Dineseverybody.
Okay, George Dines everybody.
Speaker 1 (27:41):
So that's great.
One day I'll see.
Oh, I guess he's turning it offnow, right?
Speaker 2 (27:49):
No, he's still going.
He's turning it off now.
No, he's not turning it off,he's still going.
Oh man, this is the bloopersection.
This is no.
This is going straight on theepisode.
Oh no.
Speaker 1 (28:02):
You've been listening to the Common Sense Millionaire
, where you can learn how to gofrom zero to a million using
common sense solutions toeveryday financial issues.
Make sure and subscribe to stayconnected with more content,
tools and help so you canadvance towards your financial
goals.
If you need assistance or havequestions, leave a comment or
(28:22):
you can email me at george atcommonsensemillionairecom.
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