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Transcript

Why Pay Raises Disappear in 6 Months (And How to Stop It) · The Table with Anthony ONeal

• 0:01
  [SPEAKER_00]: You know, when it's the last time you got a race, or when is that something got a bonus?
• 0:05
  [SPEAKER_00]: Oh, you know what, let me ask you this.
• 0:07
  [SPEAKER_00]: When is the last time you got a new job that paid more than the last one?
• 0:12
  [SPEAKER_00]: Now here's the real question, and I want you to be honest.
• 0:15
  [SPEAKER_00]: Six months later, after you got the new race, the bonus, or the new job, could you tell me exactly where the extra money went?
• 0:25
  [SPEAKER_00]: I'm gonna wait.
• 0:27
  [SPEAKER_00]: Here's the truth.
• 0:31
  [SPEAKER_00]: And that should bother you more than it probably does, because if you can't answer that question, it means the rays you celebrated didn't actually change your life, it just changed your bills.
• 0:51
  [SPEAKER_00]: What's going on, fams of boy Anthony O'Neill, welcome back to the table.
• 0:54
  [SPEAKER_00]: Present, stop living paycheck to paycheck.
• 0:56
  [SPEAKER_00]: Man, we are one truth, one move, 10 minutes, pull up a chair, let's get into it.
• 1:04
  [SPEAKER_00]: I want you to picture a household.
• 1:07
  [SPEAKER_00]: Okay, doesn't matter if it's yours or somebody you know, because I promise you, you know this family.
• 1:14
  [SPEAKER_00]: Let's call them the Henderson's, for an example.
• 1:18
  [SPEAKER_00]: Jai gets called into his manager's office on a random Tuesday, his stomach drops because when your manager wants to see you unexpectedly, you, uh, we all automatically will assume the worst.
• 1:29
  [SPEAKER_00]: Trust me, I've been there.
• 1:31
  [SPEAKER_00]: but this time it was good news.
• 1:33
  [SPEAKER_00]: It was a race.
• 1:36
  [SPEAKER_00]: $8,000 a year.
• 1:37
  [SPEAKER_00]: Effective immediately.
• 1:39
  [SPEAKER_00]: Effective immediately.
• 1:43
  [SPEAKER_00]: $8,000.
• 1:44
  [SPEAKER_00]: John gets excited and calls his wife on a drive home, practically shouting into the phone.
• 1:50
  [SPEAKER_00]: That night they went out and they celebrated.
• 1:53
  [SPEAKER_00]: They go out to eat somewhere that usually save for special occasions and why not, right?
• 2:01
  [SPEAKER_00]: They deserve it.
• 2:02
  [SPEAKER_00]: Over the next few months, small thing shift, the car that was starting to fill a little tight, gets traded in for something just a little bit nicer, with a slightly higher payment, but it's fine.
• 2:17
  [SPEAKER_00]: They can afford it now.
• 2:19
  [SPEAKER_00]: They start ordering delivery two or three nights a week instead of for one, because honestly, who has the energy to keep cooking ever single night?
• 2:29
  [SPEAKER_00]: They upgrade a streaming package.
• 2:32
  [SPEAKER_00]: They finally get that gym membership.
• 2:34
  [SPEAKER_00]: They've been talking about, but they're not going to with every single day.
• 2:43
  [SPEAKER_00]: None of it by itself is reckless.
• 2:47
  [SPEAKER_00]: None of it is even a Beyonce G. wrong.
• 2:53
  [SPEAKER_00]: But six months later, John sits down to actually look at the numbers and here's exactly what he found.
• 2:59
  [SPEAKER_00]: $8,000 more a year coming in and in the account where their savings used to slowly grow month over month.
• 3:10
  [SPEAKER_00]: Nothing changed.
• 3:11
  [SPEAKER_00]: Same number as it was before the race.
• 3:16
  [SPEAKER_00]: The extra income did disappear because of one big mistake.
• 3:19
  [SPEAKER_00]: It disappeared in a hundred small, reasonable sounding
• 3:29
  [SPEAKER_00]: It's because they made a lot of small decisions based upon the raise.
• 3:35
  [SPEAKER_00]: There's a name for what happened to Johnny his family.
• 3:37
  [SPEAKER_00]: It's called lifestyle inflation.
• 3:40
  [SPEAKER_00]: It's what happens when your income goes up, but your habits stay exactly the same.
• 3:46
  [SPEAKER_00]: So every extra dollar quietly finds a new place to live before you ever get to say what actually matters.
• 3:59
  [SPEAKER_00]: Here's a number that should stop you and really make you think.
• 4:05
  [SPEAKER_00]: I've said it's on the last show the last episode that a current CNBC and they believe that roughly one in five households earning more than 150,000 dollars a year are still living paycheck to paycheck.
• 4:20
  [SPEAKER_00]: One in five.
• 4:22
  [SPEAKER_00]: at $150,000 a year, they are still living page of the paycheck.
• 4:28
  [SPEAKER_00]: I need you to think about that for a second.
• 4:31
  [SPEAKER_00]: That is not a small income.
• 4:34
  [SPEAKER_00]: That is more than $10,000 a month.
• 4:36
  [SPEAKER_00]: That is a household, most people would assume, has everything figured out.
• 4:41
  [SPEAKER_00]: And yet, one out of every five of them is standing exactly where you might be standing right
• 4:52
  [SPEAKER_00]: Here's why that happens, and I need you to really hear this part.
• 4:57
  [SPEAKER_00]: Income is not the same thing as discipline.
• 5:00
  [SPEAKER_00]: A race doesn't create margin in your life.
• 5:04
  [SPEAKER_00]: A race reveals whether you already had discipline in the first place.
• 5:10
  [SPEAKER_00]: If you had no system before the race, the race doesn't fix that.
• 5:16
  [SPEAKER_00]: It just gives you or it gives you a lack of system more money to work with.
• 5:23
  [SPEAKER_00]: That's how I want to say it.
• 5:24
  [SPEAKER_00]: Yeah.
• 5:25
  [SPEAKER_00]: And I've said this several times before, and I'm going to say it again today, because it's one of the truest things I know about money.
• 5:33
  [SPEAKER_00]: Your income builds wealth, your habits keep it.
• 5:50
  [SPEAKER_00]: You can have the biggest income of your life.
• 5:54
  [SPEAKER_00]: And if there's no plan attached to it, it will pass through your hands exactly like water passes through our fingers.
• 6:03
  [SPEAKER_00]: Fast, quiet, and gone before you even realize that it left.
• 6:13
  [SPEAKER_00]: This is why so many people get a raise
• 6:20
  [SPEAKER_00]: and then that same tight, anxious feeling creeps right back in.
• 6:26
  [SPEAKER_00]: It's not because the raise in a work is because nobody ever told them that a raise needs a job to do, just like every other dollar in the house needs a job.
• 6:35
  [SPEAKER_00]: Without a job to do extra money, doesn't build your future, it just upgrades your present.
• 6:43
  [SPEAKER_00]: If payday feels like relief, instead of progress, we need to have an honest conversation.
• 6:49
  [SPEAKER_00]: Because here's a truth, payday shouldn't feel like somebody threw you a life-preserver.
• 6:54
  [SPEAKER_00]: No, it should feel like another step towards freedom, specifically financial freedom.
• 6:59
  [SPEAKER_00]: But for a lot of people, that paycheck is almost already gone before it ever hits the bank, the mortgage, the car, the credit cars.
• 7:08
  [SPEAKER_00]: Everyone is getting paid, except for who?
• 7:10
  [SPEAKER_00]: You.
• 7:11
  [SPEAKER_00]: That's exactly why I wrote Stop Living Page at the Page Check.
• 7:15
  [SPEAKER_00]: I wanted to give hard, working people like yourself a real plan, not another motivational speech.
• 7:22
  [SPEAKER_00]: If today's message sounds like your life, go to anthonyoneau.com for slashbook and order your copy today.
• 7:30
  [SPEAKER_00]: Again, that's anthonyoneau.com for slashbook.
• 7:34
  [SPEAKER_00]: Let's get to freedom together.
• 7:36
  [SPEAKER_00]: I want to ask you something.
• 7:37
  [SPEAKER_00]: I need you to be honest.
• 7:39
  [SPEAKER_00]: Did your last raise bonus or new job create real savings or did it create a new monthly payment?
• 7:48
  [SPEAKER_00]: Are you spending more on a convenience now than you were a year ago?
• 7:53
  [SPEAKER_00]: Things like delivery services, subscriptions, and upgraded services.
• 7:57
  [SPEAKER_00]: Maybe you went from economy to economy plus.
• 8:09
  [SPEAKER_00]: Maybe you went from Uber, XL, to Uber, but that?
• 8:14
  [SPEAKER_00]: If your income went up in the last 12 months, has your stress about money actually going down, or does it feel the same?
• 8:25
  [SPEAKER_00]: I need you to be honest with me.
• 8:28
  [SPEAKER_00]: Drop it into comments, be honest.
• 8:30
  [SPEAKER_00]: We are a community who holds everyone accountable by praying in love and hope.
• 8:36
  [SPEAKER_00]: Here's your move for today, and I want you to actually do this one.
• 8:40
  [SPEAKER_00]: Here, me clearly, I need you to do it, not just think about it, not just hear it, I need you to hear it, think about it, and do it.
• 8:50
  [SPEAKER_00]: Think back to the most recent raise, bonus, or income increase, even if it was just a small little increase, $50 a month, five hundred dollars a month, whatever it was.
• 9:01
  [SPEAKER_00]: I want you to name specifically what the extra money has been going towards for the last several months.
• 9:09
  [SPEAKER_00]: What you'd write it down if you can, rent maybe I went up, new car, more eating out, subscriptions, hell, let's be real brothers, maybe you're dating a little bit more, you've said the how you're dating, I don't know.
• 9:22
  [SPEAKER_00]: There's no shame to this list, there's only clarity because you cannot build margin with money you've never actually tracked.
• 9:30
  [SPEAKER_00]: can't.
• 9:32
  [SPEAKER_00]: This is exactly why I built what I call the monthly money vision in to stop living paycheck to paycheck the most recent book.
• 9:41
  [SPEAKER_00]: Stop a punishment budget.
• 9:43
  [SPEAKER_00]: It's a plan you build before the month even stars.
• 9:46
  [SPEAKER_00]: So that when a raise comes in, when a bonus comes in, or when any kind of extra income shows up, and
• 9:53
  [SPEAKER_00]: It already has an assignment waiting for it.
• 9:56
  [SPEAKER_00]: That's a difference between a raised that quietly disappears and a raised that actually moves your family forward.
• 10:04
  [SPEAKER_00]: You will clearly see inside of a sub-divincredible paycheck I believe that if you get a raise that you shouldn't even touch that raised for 12 months.
• 10:14
  [SPEAKER_00]: So here's why I need you to understand.
• 10:17
  [SPEAKER_00]: The next raise, the next bonus, the next promotion,
• 10:23
  [SPEAKER_00]: I believe that for you.
• 10:26
  [SPEAKER_00]: But if you don't have a plan in place before it arrives, it would disappear exactly the same way the last one did.
• 10:35
  [SPEAKER_00]: That's why I wrote Stop Living Pitch at a paycheck and inside the book, I showed you exactly how to build a plan for every single dollar before the money ever lands in your account.
• 10:46
  [SPEAKER_00]: So that raise actually bills your future instead of just funding nicer versions of this
• 10:53
  [SPEAKER_00]: This is not theory.
• 10:55
  [SPEAKER_00]: This is the same system as same strategy to same plan I've used to help thousands of families and thousands of individuals like yourself finally keep what they worked their behinds all for.
• 11:08
  [SPEAKER_00]: All you got to do is go to anthonyoneo.com 4-stachebook today and order your copy before your next paycheck even hits.
• 11:16
  [SPEAKER_00]: And if you download today, I'm going to give you about $300 worth of bonuses.
• 11:19
  [SPEAKER_00]: It's going to help transform your life.
• 11:21
  [SPEAKER_00]: So don't let your next paycheck or increase disappear like the last one did.
• 11:27
  [SPEAKER_00]: Go to anthonyoneo.com 4-stachebook, get a copy of the book today and share this with a friend.
• 11:33
  [SPEAKER_00]: Hey, listen, let's do this thing together.
• 11:36
  [SPEAKER_00]: Now, on the next special edition of the table with Anthony O'Neill, what we present stop living page at the paycheck, I want to show you something that might genuinely surprise you.
• 11:45
  [SPEAKER_00]: Families making $100,000 a year sometimes more, and still living page at the paycheck, I show you exactly why that keeps happening, and why it has nothing to do with how hard you're working or they're working.
• 12:02
  [SPEAKER_00]: Alright, listen, I say this on every episode, freedom is better than being rich.
• 12:10
  [SPEAKER_00]: You'll get it one of these days.
• 12:12
  [SPEAKER_00]: I should go and have it on the old.com for a search book or your company today and I'll see you tomorrow at the table.