Latest / The Table with Anthony ONeal / I Owe You an Apology: I've Been Teaching the Wrong Emergency Fund Amount

Transcript

I Owe You an Apology: I've Been Teaching the Wrong Emergency Fund Amount · The Table with Anthony ONeal

0:00
[SPEAKER_00]: I remember when I was about 21 years old, I coasted my car into a gas station, and I say coasted because the car was running literally on fumes.
0:21
[SPEAKER_00]: I was scared to press the gas pedal.
0:24
[SPEAKER_00]: I remember when I put into the gas station I called my bank to check my balance because back then we didn't have the internet like that.
0:32
[SPEAKER_00]: The automated voice told me that I had $6.32 to my name.
0:38
[SPEAKER_00]: Not in my accounts, but in my only account that I had.
0:41
[SPEAKER_00]: On that particular day, it was a Wednesday evening and payday was not until Friday morning.
0:49
[SPEAKER_00]: Not Friday early morning was really Friday right before lunch time.
0:54
[SPEAKER_00]: So I remember leaving a gas station going straight to McDonald's ordered two double cheese burgers and two sweet teas.
1:01
[SPEAKER_00]: Got home, took out a kitchen knife and cut both burgers in half.
1:09
[SPEAKER_00]: The reason why I cut both burgers in half is because that was going to be my lunch and dinner for the next two days, skipping over breakfast.
1:20
[SPEAKER_00]: I really look at it.
1:22
[SPEAKER_00]: That was somewhat of my emergency fun and for years after that, after I learned better, after I matured, after I started building wealth, after I started teaching my community, I would tell you all that a thousand dollars was enough money in your starter emergency fun to get started.
1:46
[SPEAKER_00]: And truly, while that advice came from a good place from a healthy place, in 2026, and moving forward, I was wrong.
1:57
[SPEAKER_00]: Today, I own that.
1:59
[SPEAKER_00]: Today, I am correct in that.
2:02
[SPEAKER_00]: and I'm giving you the real number and exactly how to build it.
2:07
[SPEAKER_00]: So I really need you to stay with me throughout today's show because I'm not gonna be giving you a bunch of fluff.
2:12
[SPEAKER_00]: I'm really coming from my heart, coming from statistics and backing up why I am changing my numbers, why moving forward, this is the number I'm going with and why owning it, right?
2:25
[SPEAKER_00]: So let me explain why I am correcting myself.
2:31
[SPEAKER_00]: The $1,000 rule was designed as a starter point, a quick win to build momentum while you're attacking your consumer debt.
2:39
[SPEAKER_00]: And in a different economy, honestly, back then it did work.
2:43
[SPEAKER_00]: Let's be honest, right?
2:45
[SPEAKER_00]: But now we're in 2026.
2:46
[SPEAKER_00]: And if we're being honest, I will say any time I have to COVID, I should have changed.
2:50
[SPEAKER_00]: But I did.
2:51
[SPEAKER_00]: And it's all good.
2:52
[SPEAKER_00]: I'm changing today.
2:53
[SPEAKER_00]: But in 2026, the numbers do not lie.
2:57
[SPEAKER_00]: Listen, a minor car accident out of pocket calls on average.
3:03
[SPEAKER_00]: $1,500 to $3,000.
3:05
[SPEAKER_00]: A broken water heater on average going to be anywhere between $1,200 to $2,000.
3:10
[SPEAKER_00]: One ER visit, no overnight stay.
3:13
[SPEAKER_00]: Just one emergency you can get in get it out.
3:16
[SPEAKER_00]: There's about $1,500 to $3,000.
3:17
[SPEAKER_00]: And watch this.
3:19
[SPEAKER_00]: Watch this.
3:20
[SPEAKER_00]: One week of lost income for someone let's say making right around an average of $50,000 a year, that's nearly $1,000 going.
3:33
[SPEAKER_00]: Here's the truth that, in fact, you can lose a thousand dollars and the time it takes you to sneeze.
3:39
[SPEAKER_00]: That's not dramatic.
3:41
[SPEAKER_00]: That's just a fact.
3:47
[SPEAKER_00]: So that shows going to be a little, it's going to be a little interesting.
3:50
[SPEAKER_00]: But here's the inflation reality.
3:53
[SPEAKER_00]: A thousand dollars in 2010 is not the same as a thousand dollars today.
3:59
[SPEAKER_00]: We see with the war and everything that's going on, groceries are up right now.
4:04
[SPEAKER_00]: Rent costs are more.
4:05
[SPEAKER_00]: Ask me, how do I know this?
4:06
[SPEAKER_00]: Because I'm renting out my house.
4:11
[SPEAKER_00]: Medical bills cost more.
4:13
[SPEAKER_00]: I literally just filled up my gas tank, put $80,000 in a gas tank, and they got me a half of gallon.
4:19
[SPEAKER_00]: I mean, not a half of gallon.
4:20
[SPEAKER_00]: You got me a half a full tank of gas.
4:30
[SPEAKER_00]: The advice I'm learning didn't evolve with the economy, but my community we have to.
4:38
[SPEAKER_00]: My community we have to.
4:40
[SPEAKER_00]: I want to start off today's conversation by asking you a simple question.
4:44
[SPEAKER_00]: How many of you have had an emergency completely wipe out your savings?
4:49
[SPEAKER_00]: I want you to just drop it in the comments, but let me know, you know, I'm saying like, yo, Anthony, you're right.
4:54
[SPEAKER_00]: I had $1,000, but man, I had emergency come up.
4:56
[SPEAKER_00]: That was actually $1,500.
4:57
[SPEAKER_00]: So I had to take the $1,000 out and go maybe borrow and put it on a credit card.
5:01
[SPEAKER_00]: Like how many of you all have had any emergency wife voucher savings?
5:08
[SPEAKER_00]: Let me know in the comments section.
5:11
[SPEAKER_00]: Check this out, family.
5:12
[SPEAKER_00]: Did you know that nearly 4 and 10 Americans still have zero money invested in the stock market?
5:19
[SPEAKER_00]: That's a gap where wealth is built on missed.
5:22
[SPEAKER_00]: If you're just saving, you're falling behind, because the market's average close to about a 10% a year for a century, while your savings account is barely keeping up with inflation.
5:34
[SPEAKER_00]: I want to make this point.
5:35
[SPEAKER_00]: If you wait just five years to start investing, you could lose out on hundreds of thousands of dollars in future wealth.
5:41
[SPEAKER_00]: That's not hype, that's real math.
5:43
[SPEAKER_00]: The wealthiest 10% of Americans now own over 90% of all stocks because they started and they stayed consistent.
5:51
[SPEAKER_00]: But here's the thing.
5:52
[SPEAKER_00]: You don't need to be rich to honestly get inside of the investing game.
5:56
[SPEAKER_00]: With platforms like so-fi and best public and moumou, you can open the account today start with as little as a dollar literally and buy fractional shares of the same assets that have built generational wealth for millions.
6:09
[SPEAKER_00]: No commissions, 100% no excuses on your area.
6:12
[SPEAKER_00]: Listen, I need you to hear me clearly.
6:14
[SPEAKER_00]: Stop sitting on a sideline.
6:16
[SPEAKER_00]: Go to amphonyomil.com for session-right now to compare the top investing platforms and open your first investing account today.
6:24
[SPEAKER_00]: Your future self and your children's children will thank you for taking action right now.
6:30
[SPEAKER_00]: We have to start building well, not just watching others get rich.
6:35
[SPEAKER_00]: Do not let another year go by.
6:37
[SPEAKER_00]: As a matter of fact, don't let another day go by.
6:40
[SPEAKER_00]: Take the first step, family.
6:41
[SPEAKER_00]: Visit amphibianno.com for Sasha and Best.
6:44
[SPEAKER_00]: Let's get to work.
6:45
[SPEAKER_00]: Let's start investing ASAP.
6:48
[SPEAKER_00]: Let's get back to the shop.
6:49
[SPEAKER_00]: I want to tell you about someone in our community by the name of Marcus.
6:54
[SPEAKER_00]: He's a single dead, he has two boys.
6:58
[SPEAKER_00]: He's a warehouse supervisor in North Carolina.
7:01
[SPEAKER_00]: He was working the plan, paid off his credit cards, started building savings, watched this, had $1,300 saved and just a matter of about 42 to 45 days I think it was.
7:12
[SPEAKER_00]: Then he got a call.
7:15
[SPEAKER_00]: Technically, he got called into his boss's office and heard where nobody really wants to hear.
7:22
[SPEAKER_00]: Mark is our company of downsizing.
7:25
[SPEAKER_00]: What I am about to say is not an attack on you, your character, or your work at, it's just, we're downsizing.
7:37
[SPEAKER_00]: His first thought wasn't about his career.
7:39
[SPEAKER_00]: He told me, his first thought was, man, how am I going to be a father to my boys?
7:45
[SPEAKER_00]: His first thought was, how am I going to feed my boys?
7:48
[SPEAKER_00]: How am I going to let my boys mother know that I lost my job?
7:53
[SPEAKER_00]: But because he had that buffer, that $1,200 covered a little bit of his rent, his groceries, and a little bit of his utilities.
8:06
[SPEAKER_00]: And with weeks he didn't land a new job.
8:10
[SPEAKER_00]: Our member, about three years ago, he called into the show and he said, that little bit of savings literally saved me from going back into debt or even worse.
8:21
[SPEAKER_00]: And here's what I've learned, specifically for our Christian community.
8:25
[SPEAKER_00]: You see, Marcus didn't need a miracle.
8:28
[SPEAKER_00]: He needed margin.
8:30
[SPEAKER_00]: He needed time.
8:32
[SPEAKER_00]: and a thousand dollars and twenty twenty six doesn't buy you enough of either so what's the new number.
8:41
[SPEAKER_00]: Anthony, what are you changing this to?
8:44
[SPEAKER_00]: So here's what I'm teaching now.
8:46
[SPEAKER_00]: And this is what I'm teaching inside of my app in the black inside the escape plan.
8:52
[SPEAKER_00]: Your new target is going to be one full month of your net pay.
8:57
[SPEAKER_00]: Not your expenses, your net pay.
9:01
[SPEAKER_00]: Whatever history bank account after taxes and the deductions, that number times one, that is your buffer, that is your starter buffer.
9:10
[SPEAKER_00]: So let's say for an example, your net pay is $4,500 a month.
9:14
[SPEAKER_00]: your savings is going to be $4,500 a month.
9:18
[SPEAKER_00]: Household, a household, a brain coma, $7,000 combined, then this means that you and your spouse need $7,000 inside of savings account.
9:27
[SPEAKER_00]: I need you to write that number down right now.
9:30
[SPEAKER_00]: If you've got to pause this video, pause the podcast.
9:33
[SPEAKER_00]: I need you to write that number down right now.
9:35
[SPEAKER_00]: As a matter of fact, pause this pause right now and go to your bank statement, log them to your bank account and look at the last time you got paid for, let's say last month and see, okay, how much money do I actually have coming in?
9:48
[SPEAKER_00]: Is it $3,500, is it $10,000, is it $45,000?
9:51
[SPEAKER_00]: I don't know, I almost should write that number down then come back.
9:54
[SPEAKER_00]: Now some of you are gonna ask me where why one month?
9:58
[SPEAKER_00]: because most problems can be solved within 30 days.
10:04
[SPEAKER_00]: Most problems.
10:05
[SPEAKER_00]: And that's beyond us.
10:07
[SPEAKER_00]: If we really wanna look at the truth about what happens when your back is against the wall with no margin, we make some horrible decisions.
10:17
[SPEAKER_00]: But when you have nothing between you and disaster, listen here, you're bound to make a bad decision.
10:26
[SPEAKER_00]: You're going to take that payday loan here.
10:27
[SPEAKER_00]: You're going to max out your credit card.
10:29
[SPEAKER_00]: And a lot of you all have called in to ask me, yo, Anthony, cannot pull from our 401k to do this, to do that, to do this.
10:37
[SPEAKER_00]: Check this out.
10:39
[SPEAKER_00]: It's not because you're irresponsible.
10:42
[SPEAKER_00]: It's because you're desperate.
10:44
[SPEAKER_00]: And desperate people may desperate decisions.
10:50
[SPEAKER_00]: But if we have that 30 days, a breathing room, let's be honest.
10:56
[SPEAKER_00]: You think clearly, one of our key words for this year is strategy you move strategically, if you had that 30 days, you protect your family instead of just reacting.
11:17
[SPEAKER_00]: Now I want to be clear.
11:21
[SPEAKER_00]: I need to be clear, and pull out this, of what this one month buffer is not for.
11:30
[SPEAKER_00]: Snack for Christmas gifts.
11:33
[SPEAKER_00]: It's not for a cell on a new iPhone.
11:36
[SPEAKER_00]: It's not for a vacation.
11:38
[SPEAKER_00]: It's not because you just met this chick brother and you want to take her off the E because she bad to the bone.
11:42
[SPEAKER_00]: No, no, no, no, no, no.
11:46
[SPEAKER_00]: It's not, I just saw this purse and I got it get it because everybody get it.
11:50
[SPEAKER_00]: It's not, I just saw this thing on TikTok shop and man, it looks so good.
11:54
[SPEAKER_00]: I need to get it.
11:55
[SPEAKER_00]: You don't need to get it.
11:56
[SPEAKER_00]: Nothing because it's not emergency.
11:59
[SPEAKER_00]: I had a friend tell me.
12:01
[SPEAKER_00]: He used his emergency fund to cover a date.
12:05
[SPEAKER_00]: I said, oh, bro, hell no.
12:08
[SPEAKER_00]: No, no.
12:10
[SPEAKER_00]: That is a budget problem.
12:12
[SPEAKER_00]: That is a, I'm trying to please people problem.
12:15
[SPEAKER_00]: And y'all, I'm checking this out.
12:16
[SPEAKER_00]: He ain't even with a chick no more.
12:21
[SPEAKER_00]: Your emergency fund is for a job loss.
12:24
[SPEAKER_00]: medical crisis, car accidents, essential home repairs, kids get sick, you need to go to the hospital, that's it, everything else you budget for it, you plan for it inside your app in the black.
12:41
[SPEAKER_00]: You have to.
12:44
[SPEAKER_00]: Now, now, now, where do you keep this money?
12:49
[SPEAKER_00]: because where you keep this money, matters just as much as how much you have.
12:57
[SPEAKER_00]: Matter of fact, I've checked this out because this is where I want you to keep it.
13:01
[SPEAKER_00]: This is a family.
13:02
[SPEAKER_00]: If your savings account is earning less than 1% you're literally donating money back to the bank.
13:08
[SPEAKER_00]: You see, traditional savings accounts are paying pennies.
13:11
[SPEAKER_00]: While high-year savings accounts are paying dollars and the gap is costing you real wealth every single year.
13:20
[SPEAKER_00]: I'm gonna get real with you here real quick.
13:22
[SPEAKER_00]: When $10,000 a regular bank might pay you $40 a year, but a top high yield savings account, that's $400 to $500 a year, just for moving your money.
13:32
[SPEAKER_00]: That's hundreds of extra dollars in your pocket.
13:36
[SPEAKER_00]: No extra work, no risk, and your money stay safe, and FDIC ensure.
13:41
[SPEAKER_00]: Nearly one in four Americans have zero emergency savings, and most who do are missing out on free money.
13:49
[SPEAKER_00]: By leaving their cash and lazy accounts, Ohio saves account is the fastest, simplest upgrade you can make to hit your emergency fund and short-term goals faster.
14:01
[SPEAKER_00]: So, listen, stop letting your heart earn dollars stay lazy.
14:04
[SPEAKER_00]: Visit anthonyonil.com for SaaS savings, compare the best high-year save as accounts and open yours in literally two minutes.
14:12
[SPEAKER_00]: Every extra dollar interest gets you closer to financial freedom.
14:16
[SPEAKER_00]: So, please do not wait.
14:18
[SPEAKER_00]: Don't let another year go by earning pennies.
14:22
[SPEAKER_00]: Go to anthonyonil.com for SaaS savings.
14:25
[SPEAKER_00]: Let your money start working for you today.
14:28
[SPEAKER_00]: I, let's keep that to the show.
14:30
[SPEAKER_00]: You see, most of you have your savings sitting in a regular bank account making 0.1% to 0.5% interest.
14:37
[SPEAKER_00]: I am working on something major within our particular company and so that requires some money to come in and we're going to be announcing what this major thing is.
14:48
[SPEAKER_00]: I'm really, really excited.
14:49
[SPEAKER_00]: Sometime the beginning of the next month and because of that major project project, we have some money coming in.
14:55
[SPEAKER_00]: And so, because that money is coming in and I really can't use this money anytime soon, you know, my CFO knows that you're just going to impart this money inside of a high-year savings account so we can at least pocket some money, right?
15:07
[SPEAKER_00]: So we can at least make some kind of money on the money while just sitting there not just getting 0.03%.
15:14
[SPEAKER_00]: You see how high your savings account is your best friend.
15:17
[SPEAKER_00]: You've got to go to www.antherinoneau.com for SaaS savings and pick the best one for you.
15:22
[SPEAKER_00]: Because if you have, let's say $5,000 in the savings account.
15:25
[SPEAKER_00]: You're earning about $5 a year, $5 a freaking dollars.
15:29
[SPEAKER_00]: That is not saving.
15:30
[SPEAKER_00]: That is slowly going broke with a false sense of security.
15:34
[SPEAKER_00]: And I'll be honest with you.
15:36
[SPEAKER_00]: My emergency fund literally pays for my days.
15:40
[SPEAKER_00]: The interests that I earn every single month from my highest savings account go straight into my fun spending.
15:46
[SPEAKER_00]: So if my account made $500 last month, I get to spend $500 on the day because my money is making more money while I'm sleeping.
15:53
[SPEAKER_00]: While I'm actually out on dates while I'm working while I'm recording this video.
15:58
[SPEAKER_00]: my money is making money.
16:00
[SPEAKER_00]: So let me show you real math here, real, real math.
16:05
[SPEAKER_00]: Hopefully my new editing team we can get this up on the screen.
16:08
[SPEAKER_00]: But $5,000 in its traditional savings account is $5 a year.
16:13
[SPEAKER_00]: Now, $5,000 in a high yield savings account at 5%, is $250 a year, $10,000.
16:22
[SPEAKER_00]: That's $500 a year.
16:25
[SPEAKER_00]: That's $500 a year just for moving your money to the right account.
16:29
[SPEAKER_00]: No extra work, no risk just having it positioned correctly, having it in the right place.
16:37
[SPEAKER_00]: That's crucial.
16:38
[SPEAKER_00]: So every week, my team updates our list of the top high-o savings accounts, paying anywhere between 3% up to 5.2% APY.
16:48
[SPEAKER_00]: So this is no minimums, no hidden fees, FDIC insured.
16:53
[SPEAKER_00]: Again, all you have to do is go to anthonyoneo.com for slash savings right now, compare the race.
16:59
[SPEAKER_00]: You pick one.
17:00
[SPEAKER_00]: I don't care which one you pick.
17:01
[SPEAKER_00]: Open it today.
17:02
[SPEAKER_00]: It's gonna take you maybe tops five minutes from your phone.
17:07
[SPEAKER_00]: The link is in the description, and it should be up right around here somewhere below me.
17:12
[SPEAKER_00]: All right.
17:12
[SPEAKER_00]: So do not go to sleep tonight without your money being in a high yo savings account.
17:17
[SPEAKER_00]: I'd need you to get out of the wrong account and get it into the right account.
17:24
[SPEAKER_00]: Now, I want to give you four, four rules for keeping your emergency fine protected.
17:29
[SPEAKER_00]: All right, four rules is a crucial.
17:32
[SPEAKER_00]: Don't fade out on me yet.
17:33
[SPEAKER_00]: I give you about 10 more minutes I'll let you go.
17:35
[SPEAKER_00]: Here's rule number one.
17:36
[SPEAKER_00]: Keep it completely separate from your checking account.
17:39
[SPEAKER_00]: Out of sight and out of mind.
17:42
[SPEAKER_00]: Mahayo saves account are actually with two different notes, three different banks now.
17:47
[SPEAKER_00]: And they all have connection to my checking account, but where I do all of my budgeting out of, where I do all of my spending out of is I bank with truest, but I don't see the other savings account.
17:58
[SPEAKER_00]: I just don't, and I love that.
18:00
[SPEAKER_00]: I remember one tunnel went so long without needing my emergency fund that for a hot second, I forgot that I had another six plus figures sitting in this account for emergencies.
18:13
[SPEAKER_00]: And the reason why I just remembered it is because your boy is buying another piece of real estate property and so they want to look at all my assets and I just remember, you know, I got that account, but while I wasn't focused on buying anything, I completely forgot that I actually had another six plus figures over here in these these few accounts.
18:35
[SPEAKER_00]: So here's rule number two.
18:36
[SPEAKER_00]: You gotta make sure everything is FDIC and short.
18:39
[SPEAKER_00]: Do not open up one of these banks that's even gonna offer you six, seven, eight percent, but they're not FDIC and short.
18:46
[SPEAKER_00]: Never keep your emergency funds and stocks crypto or anything you can't access immediately.
18:53
[SPEAKER_00]: It needs to be liquid and needs to be able to be accessed immediately.
18:58
[SPEAKER_00]: immediately.
18:58
[SPEAKER_00]: That's why I tend to have my accounts with the sofa because it will come with the actual checking account and a debit card.
19:07
[SPEAKER_00]: So you'll have a high-year or savings account.
19:09
[SPEAKER_00]: You can open up a checking account if you have an emergency, you can move that money over to the checking account and use a debit card that comes with it.
19:16
[SPEAKER_00]: with the visa debit card, I would say.
19:18
[SPEAKER_00]: So let's say you need access to $2,000.
19:22
[SPEAKER_00]: Well, you don't have to wait 24 hours for it to transfer to your main account.
19:25
[SPEAKER_00]: You can just use your visa debit card.
19:27
[SPEAKER_00]: It came with your sofa, high yo savings, and checking account, boom, you have access to that account within a matter of seconds now.
19:34
[SPEAKER_00]: Which leads me to number three, get a debit card for the account.
19:37
[SPEAKER_00]: but don't carry it.
19:39
[SPEAKER_00]: I keep mines in the safe at the house, so it's available whenever I need it.
19:43
[SPEAKER_00]: It's not tempting me when I go inside the store and I'm a dang man.
19:47
[SPEAKER_00]: I got X amount of money over here.
19:48
[SPEAKER_00]: I can just swipe this card.
19:49
[SPEAKER_00]: Nononononon, I don't even see it.
19:51
[SPEAKER_00]: I won't even take it out.
19:53
[SPEAKER_00]: And watch this.
19:55
[SPEAKER_00]: Watch this.
19:56
[SPEAKER_00]: Let's say if my company wants to go down today, as much as I love my staff, most as I love you all, I'm not touching that for company expenses.
20:04
[SPEAKER_00]: That is for Anthony O'Neill to live, that is for Anthony O'Neill's family.
20:09
[SPEAKER_00]: A.O.
20:10
[SPEAKER_00]: enterprise and a neatness network has their own emergency fund and thankfully knocking on wood and by the grace of God that was in a matter of the five years, I've never missed payroll and I've never ever had to go into our emergency fund for anything.
20:23
[SPEAKER_00]: We've gotten close during some horror seasons, but somehow in a way, God made way and he allowed us to make some more money and boom, we've never had it such it.
20:31
[SPEAKER_00]: Which leads me over to rule number four, when you use it, because you will use it, I've had to use my emergency fund.
20:38
[SPEAKER_00]: You've got to pause everything else and rebuild it immediately.
20:43
[SPEAKER_00]: That's discipline, that is a system.
20:49
[SPEAKER_00]: Just because you use it doesn't mean now to say if you had $10,000 in there and you use $4,000, you got $6,000 left, okay, I got $6,000 in my savings account.
20:58
[SPEAKER_00]: I'm good.
20:59
[SPEAKER_00]: No, you're not.
20:59
[SPEAKER_00]: You need to put that $4,000 back in there because it's not a matter of if you're going to need another $10,000 in your emergency.
21:06
[SPEAKER_00]: It's just a matter of when you're going to have a $10,000 emergency.
21:10
[SPEAKER_00]: And I promise you, every adult living up in their forties right now has had an emergency that could have caused them anywhere between five to 10 to even some times 15,000 dollars.
21:22
[SPEAKER_00]: Well, let's talk about that because you're saying, Anthony, five thousand, 10,000 dollars.
21:25
[SPEAKER_00]: I already know some of you are all thinking, Anthony, I don't have one month of net pay just sitting around.
21:32
[SPEAKER_00]: I get you, I hear you, neither did Mark is, but he started.
21:38
[SPEAKER_00]: And that's the move, you see?
21:43
[SPEAKER_00]: I don't wanna say this.
21:52
[SPEAKER_00]: Here's my problem with us.
21:54
[SPEAKER_00]: And when I say us, people who look like me, minority individuals, black people, well, minority people.
22:03
[SPEAKER_00]: We are the most talented people on planet earth, I believe.
22:09
[SPEAKER_00]: The most talented, the most creative group of people.
22:19
[SPEAKER_00]: But we don't know how to, we know how to dream.
22:25
[SPEAKER_00]: We know how to talk a good game, but we do not know how to follow and work a system.
22:34
[SPEAKER_00]: We know how to start something, but do we know how to finish it?
22:43
[SPEAKER_00]: But yet, we want to complain, yet we want to write it, yet we want to go out there and make a lot of noise about what the system is not designed for.
22:52
[SPEAKER_00]: It's like, we're good at screaming, we're good at making a lot of noise.
22:59
[SPEAKER_00]: And while I think that that is a crucial part for African Americans, among other people, but strategy and systems is just as important, even unity is just as important.
23:15
[SPEAKER_00]: And I'm going way off here, but I just got to do it because I just fill it in my spirit.
23:21
[SPEAKER_00]: I was at the barber this morning, getting my hair cut before I came in to record this show, man.
23:26
[SPEAKER_00]: And it was my barber who connected me with the team at Cleanings in my house.
23:32
[SPEAKER_00]: And when they showed up, five people showed up to clean my house.
23:42
[SPEAKER_00]: Five people showed up to clean my house.
23:47
[SPEAKER_00]: My house that I'm currently in right now, then I'm about to move out of is about 5,800 square feet.
23:54
[SPEAKER_00]: Before I had a clean and lady, it was just her to curm maybe about seven hours to clean.
23:59
[SPEAKER_00]: Those five, it took them maybe an hour and a half, two hours to clean.
24:04
[SPEAKER_00]: Why?
24:05
[SPEAKER_00]: Because they're hardworking.
24:06
[SPEAKER_00]: They have a strategy.
24:07
[SPEAKER_00]: Well, if it's five of us, and we each only work 20 minutes in this section of the house, we could be finished with this house within a matter of an hour and a half, two hours.
24:17
[SPEAKER_00]: Now we go from cleaning one house a day to what we could possibly do four houses a day.
24:23
[SPEAKER_00]: And if we do four houses a day and we all work the strategy, we will all make money, but we got to be together.
24:29
[SPEAKER_00]: And we got to start and we got to finish black people.
24:32
[SPEAKER_00]: We don't know how to work a strategy.
24:34
[SPEAKER_00]: But we know how to make a lot of noise, and I said this respectfully a lot of it is unnecessary noise.
24:43
[SPEAKER_00]: So I want to give you an action plan on how you can make some more money, and how you can get to one month.
24:51
[SPEAKER_00]: How I got to one month, and how I am building it.
24:54
[SPEAKER_00]: I need you to write this down.
24:56
[SPEAKER_00]: Here's the number one.
24:57
[SPEAKER_00]: You guys know your number.
24:59
[SPEAKER_00]: You've got to calculate your monthly net pay, this is your target and you have to write it down on a sheet of paper or you've got to have an inside of your app in the black and we're going to put in the black app information up on the screen somewhere now and also put it inside of the show notes.
25:16
[SPEAKER_00]: All right, but you got to know this number.
25:18
[SPEAKER_00]: You need to put it down somewhere where you can see at least two or three times a day.
25:22
[SPEAKER_00]: Then step number two is you got to open up a high-yield savings account today by going to anthonylo.com for SaaS savings.
25:28
[SPEAKER_00]: You got to pick one that fits you, fix your goals.
25:32
[SPEAKER_00]: Open it even with just $0.
25:34
[SPEAKER_00]: Because the first step is just opening in the account on the engine that's fairly fun to that account today.
25:39
[SPEAKER_00]: But I do need you to just open it, start building that healthy habit.
25:43
[SPEAKER_00]: which leaves me over a certain number three.
25:45
[SPEAKER_00]: You've got to set up automatic transfers.
25:47
[SPEAKER_00]: Even if it's 50 dollars a week, that's $2400 a year, automated.
25:50
[SPEAKER_00]: I want you to set it and just let it build.
25:53
[SPEAKER_00]: Get your starter savings emergency finding going.
25:56
[SPEAKER_00]: Then step four, find extra money to accelerate.
26:00
[SPEAKER_00]: cut some subscriptions.
26:02
[SPEAKER_00]: Negotiate one of your cell phone bills.
26:04
[SPEAKER_00]: Negotiate your car insurance bill.
26:06
[SPEAKER_00]: Sell something that you're not using.
26:08
[SPEAKER_00]: Every extra dollar goes straight to the buffer until it's full.
26:12
[SPEAKER_00]: Listen, if you've got to go out there and drive for Uber or do do Instagram or do door dash and do Uber eats, do whatever you've got to do just so you can get that buffer I promise you when life hits you.
26:23
[SPEAKER_00]: Not a matter of if but when life hits you you are going to be thinking
26:28
[SPEAKER_00]: that you were willing to get outside of your comfort zone to prepare for a season that God is allowing to come.
26:34
[SPEAKER_00]: And let me say this, man, that these last three weeks of my life has been hell.
26:41
[SPEAKER_00]: Has been hell.
26:43
[SPEAKER_00]: Has been hell.
26:46
[SPEAKER_00]: Can I be honest with you?
26:48
[SPEAKER_00]: It's been hell.
26:53
[SPEAKER_00]: I'm not at liberty to disclose.
26:58
[SPEAKER_00]: Why the last three weeks in my life has been hell because God has not released me to do that yet.
27:04
[SPEAKER_00]: But as soon as he does, man, I can't wear it, I can't wait to share it.
27:09
[SPEAKER_00]: But when this went down immediately, some of my family said that devil, I said, no, I'm being gonna give the devil too much credit, man.
27:18
[SPEAKER_00]: Let me tell y'all something right now.
27:25
[SPEAKER_00]: That wasn't the devil.
27:27
[SPEAKER_00]: It was his life, but what some people will say is the devil, what some people will say, oh, that's an emergency because I was prepared.
27:38
[SPEAKER_00]: My that emergency shifted into just a inconvenience for a period of time of my life.
27:47
[SPEAKER_00]: And when I got the bill to resolve this situation,
27:52
[SPEAKER_00]: I saw what this sucks, but I didn't feel stressed, I didn't lose my mind, I didn't have to borrow no money because I had a bag sitting and waiting for something like this to happen.
28:08
[SPEAKER_00]: Because for a season in my life, I was willing to be uncomfortable by saving, by telling my friends no, by not driving this kind of car, by not buying these kind of watches, by not buying this jewelry.
28:19
[SPEAKER_00]: I was willing to be uncomfortable.
28:21
[SPEAKER_00]: I was willing to not have the latest and the greatest things.
28:24
[SPEAKER_00]: I was willing to tell my people no, I was willing watches to tell Anthony O'Neill myself no.
28:30
[SPEAKER_00]: because for me, I knew life was coming and I wanted to make sure that when life hits me, I can't be prepared for everything, but I could be prepared for the majority of things.
28:41
[SPEAKER_00]: And thank God, I told myself, no, thank God, I was listening to what the Bible says.
28:48
[SPEAKER_00]: Count the calls.
28:52
[SPEAKER_00]: And when life hit me and and I'm telling right now life hit me probably the hardest I've ever been hit in my entire going on 42 years of living But when life hit me it didn't set me back Because I was prepared for it financially I was prepared for it spiritually and even I was prepared for it as much as I could mentally
29:16
[SPEAKER_00]: And some of us were going through depression, some of us were going through heartache, some of us were filling the press because we are not willing to get prepared now.
29:30
[SPEAKER_00]: We are unwilling to live uncomfortable for 12 months so we can live the next 12 years fruitful.
29:40
[SPEAKER_00]: But the truth of the fact is, nothing extraordinary happens inside of our comfort zone.
29:50
[SPEAKER_00]: Nothing really fruitful comes from within side of our comfort zone.
29:55
[SPEAKER_00]: It is when we can step out on faith, trust God, be uncomfortable, do things that may make us feel embarrassed uncomfortable.
30:04
[SPEAKER_00]: But it's preparing us for the next season.
30:08
[SPEAKER_00]: Listen to me clearly.
30:11
[SPEAKER_00]: I need you to be uncomfortable for these next few months, so you can get to a place to where you are comfortable.
30:20
[SPEAKER_00]: That's the description and you're about to cut, you'll be all right, you'll be all right.
30:31
[SPEAKER_00]: The friends that you may have to tell no to that, hey, I can't come with you on this particular trip, you'll be all right.
30:37
[SPEAKER_00]: I was talking one of my home girls and she said, Anthony, you have convicted me so much.
30:43
[SPEAKER_00]: She said, just just watching you and just being connected with you,
30:51
[SPEAKER_00]: He's an Anthony men I was putting trips on credit cards.
30:57
[SPEAKER_00]: I was putting brunch on credit cards.
31:02
[SPEAKER_00]: But then when you said, man, how can someone of, I wasn't talking to her or talking to someone else, but she was like, dang, he's talking to me too.
31:09
[SPEAKER_00]: How can I, someone of my status, single, a real good six-figure-plus job, live on the outskirts of, you know, the main city, my mortgage payment is not that bad.
31:21
[SPEAKER_00]: How is it that I don't even have $1,500 to my name?
31:26
[SPEAKER_00]: but I've been on trips, but I got Louis.
31:29
[SPEAKER_00]: But every time I step out, I look good, hair straight, make a flawless body, right in type.
31:34
[SPEAKER_00]: Clothes is on point, but I don't have $1500 on my side.
31:41
[SPEAKER_00]: I looked at it and I said, sis, you said it not me, but you're right.
31:45
[SPEAKER_00]: I said, but you ain't the only one.
31:46
[SPEAKER_00]: I always had dudes spend the seven bands on a strip club at a strip club and I didn't even have seven bands inside my account.
31:53
[SPEAKER_00]: I was at dude paying $1200 on a car note when I didn't even have $1200 on my account.
32:00
[SPEAKER_00]: I was at dude, I was trying to get 800 credit score and I didn't even have 800 on my account.
32:05
[SPEAKER_00]: I finally got to the point, I said, yo, I'm done.
32:08
[SPEAKER_00]: I'm changing my life around.
32:10
[SPEAKER_00]: and every extra dollar that I make, every extra dollar that I say is gonna go straight to my savings account.
32:17
[SPEAKER_00]: Who's least willing to build with a step five?
32:20
[SPEAKER_00]: Fam, you gotta protect your money like a sacred.
32:25
[SPEAKER_00]: You know what, you know what day?
32:27
[SPEAKER_00]: You know what's so funny?
32:28
[SPEAKER_00]: This culture is interesting.
32:31
[SPEAKER_00]: It's interesting.
32:33
[SPEAKER_00]: I had a young lady said, you must be new money.
32:35
[SPEAKER_00]: I was like, why you say that?
32:36
[SPEAKER_00]: Because you're scared to spend your money.
32:40
[SPEAKER_00]: I say, is it that I'm scared to spend it, or am I scared to go back to where I was?
32:51
[SPEAKER_00]: Something wrong with Newman?
32:56
[SPEAKER_00]: There's nothing wrong with protecting where what I built to prevent me from going backwards.
33:08
[SPEAKER_00]: So you can say, oh, he's scared, he's scared.
33:10
[SPEAKER_00]: Oh, he, he knew money.
33:11
[SPEAKER_00]: I don't say what you want to say, but I would say, I'm just wise.
33:16
[SPEAKER_00]: And step five is about protect what you have built.
33:20
[SPEAKER_00]: So if you use it, you'll go rebuild it immediately.
33:23
[SPEAKER_00]: If you are building it and you're not protecting it by having it in a high yo savings account, move it and put it there.
33:31
[SPEAKER_00]: Yo, listen man, don't allow people to talk you out of your financial freedom.
33:39
[SPEAKER_00]: All right, now I don't win all the way around this thing, but I just really want to say, I apologize.
33:50
[SPEAKER_00]: Over the next, I would say going on five to six months, you're going to be seeing some content, that's going to be clear with you all on where I stand financially.
33:59
[SPEAKER_00]: and why I stand, where I stand, it'll be backed by data, it'll be backed by facts.
34:05
[SPEAKER_00]: Yes, Anthony O'Neill taught, save $1,000 as a starter emergency fund rule.
34:14
[SPEAKER_00]: And while I think honestly, even if you just have $1,000 in your account, you're not doing horrible because it was about 40% of people cannot even afford to cover $1,000 in emergency cash without going into a credit card or something like that.
34:27
[SPEAKER_00]: So if you got $1,000, great, man, this, I'm not knocking that rule.
34:31
[SPEAKER_00]: I'm just saying Anthony O'Neill is updating and changing the rule.
34:36
[SPEAKER_00]: I'm correcting it today.
34:38
[SPEAKER_00]: Not because my attention was wrong, but because the economy has changed and the advice needs to happen and change with it.
34:48
[SPEAKER_00]: You honestly deserve updated truth.
34:50
[SPEAKER_00]: Now, outdated advice.
34:53
[SPEAKER_00]: Now, I'm not gonna be changing this for a while, though.
34:56
[SPEAKER_00]: All right.
34:57
[SPEAKER_00]: I don't see myself ever changing this.
34:59
[SPEAKER_00]: Yes, you need one month of net pay inside of your savings account.
35:03
[SPEAKER_00]: And I think that that transcends like that that can go from generation to generation to generations because if you just have 30 days to process to think to not feel stress.
35:15
[SPEAKER_00]: to sit down if you're single with yourself and accountability partner if you're married with you and your spouse and say, hey, babe, what's the plan?
35:23
[SPEAKER_00]: Hey, hey mentor, accountability partner, this is the plan I'm thinking about.
35:27
[SPEAKER_00]: It doesn't make sense.
35:28
[SPEAKER_00]: When we can do that, we will make better decisions.
35:35
[SPEAKER_00]: So here's the three takeaways.
35:36
[SPEAKER_00]: Number one, yes, $1,000 is no longer enough money.
35:43
[SPEAKER_00]: your target today with their mind community is one full month of your net pay.
35:50
[SPEAKER_00]: This is one full month of your net pay before you start attacking your consumer debt.
35:56
[SPEAKER_00]: Yep.
35:58
[SPEAKER_00]: Number two, where you keep it matters just as much as how much you have in it.
36:05
[SPEAKER_00]: This is a high EOS savings account and you've gotta go to anthonyo.com for size savings.
36:10
[SPEAKER_00]: Number three, I need you to start saving today.
36:14
[SPEAKER_00]: Open up the account, set the transfer and protect it.
36:18
[SPEAKER_00]: This isn't about being perfect.
36:21
[SPEAKER_00]: It's about being prepared.
36:23
[SPEAKER_00]: It is about starting the process of when life hits you.
36:27
[SPEAKER_00]: it turns into an inconvenience.
36:30
[SPEAKER_00]: It's the Marcus wasn't perfect, but he was somewhat prepared, and because of that, his boy is a, his light stayed on, and he didn't have to go back into that.
36:45
[SPEAKER_00]: That's what one month of margin can do for your family.
36:50
[SPEAKER_00]: So matter of fat, that's what one month of margin will do for your family.
36:55
[SPEAKER_00]: Go to www.amthinou.com for us to ask savings today and open up your account.
37:01
[SPEAKER_00]: Today.
37:02
[SPEAKER_00]: Listen, I'm going to try something.
37:05
[SPEAKER_00]: If you made it all the way through to the end of this video, number one, thank you.
37:08
[SPEAKER_00]: Hit that subscribe button, share this video with someone to encourage them.
37:14
[SPEAKER_00]: But I'm going to do a many, a many fun thing if you're willing to do it.
37:19
[SPEAKER_00]: Put your number inside the comment section.
37:21
[SPEAKER_00]: And I think what I'm going to be doing is praying throughout the rest of this week that God will enlarge that number for you, for your family.
37:34
[SPEAKER_00]: It should be anything to know.
37:35
[SPEAKER_00]: I will see you on the next show, peace out.