Latest / Money And Wealth With John Hope Bryant / The Power of Credit Scores: Changing Your Life and America (for the better)

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The Power of Credit Scores: Changing Your Life and America (for the better) · Money And Wealth With John Hope Bryant

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  Speaker 1: Welcome The Money in Wealth with John O'Bryant, a production
• 0:49
  Speaker 1: of the Black Effect Podcast Network and iHeartRadio. Yo. This
• 1:00
  Speaker 1: is John ho Bryant and this is the Money and
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  Speaker 1: Wealth podcast series on Black Effect Network and iHeartRadio. So
• 1:08
  Speaker 1: weekly podcast my Ministry of Finance. I want to first
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  Speaker 1: of all, thank you the listeners and subscribers for making
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  Speaker 1: this one top one hundred business podcasts in the country
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  Speaker 1: and one of the top forty entrepreneurship podcasts in the
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  Speaker 1: entire country. Let's get at it. This week's podcast is
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  Speaker 1: extremely important and provocative. It's not supposed to be provocative.
• 1:31
  Speaker 1: It shouldn't be provocative, but it you know, I think
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  Speaker 1: this is a radical movement of common sense. And well,
• 1:40
  Speaker 1: I like math because it doesn't have an opinion. That's
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  Speaker 1: my friend Melody Hobson quote. And it disappears that things
• 1:46
  Speaker 1: that I don't intend to be provocative at all are
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  Speaker 1: extremely provocative. Let me just get it out right up front.
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  Speaker 1: I don't think the issue today in this country is
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  Speaker 1: primarily black or white as in race, or red or
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  Speaker 1: blue as in politics partisan politics. I think the issue
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  Speaker 1: is green economics. Let me unpack that with specifics, and
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  Speaker 1: I'm talking about credit scores this week. I'm talking about
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  Speaker 1: the power of credit scorse to change your life in
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  Speaker 1: the change America. Of course, it should go without saying
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  Speaker 1: for the better. Okay, So I together with bernise A King,
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  Speaker 1: doctor bernise A King, the daughter of doctor Martintha King Junior,
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  Speaker 1: and Ambassador Andrew Young, who was doctor King's right arm
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  Speaker 1: in the civil rights movement and was on the balcony
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  Speaker 1: when doctor King was assassinated in April fourth, nineteen sixty
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  Speaker 1: eight in Memphis, Tennessee. Along with the Mayor of Memphis,
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  Speaker 1: Paul Young, we got together and pulled together twenty amazing
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  Speaker 1: global speakers, the experts, the best of the best, and
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  Speaker 1: founding delegates from all platforms throughout the country and even
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  Speaker 1: throughout the world. And you can go to the Dream
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  Speaker 1: Ford and look at the list of speakers and the delegates,
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  Speaker 1: and you will find it looks like America. There are
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  Speaker 1: Democrats and Republicans, there's black and white, there's rich and poor,
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  Speaker 1: there's concern and liberal, there's urban and rural. There's the
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  Speaker 1: current administration who's represented with speakers in the program for
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  Speaker 1: three hours. The ground rule was nothing negative. You can't
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  Speaker 1: throw political bombs, you can't criticize, you can't take out
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  Speaker 1: your therapy, the need for therapy and your frustrations. Using
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  Speaker 1: doctor King's memorial as a backstage, you have to come
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  Speaker 1: here with solutions for all of us. Because when Doctor
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  Speaker 1: King was assassinated, he had framed out a vision for
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  Speaker 1: the Poor People's Campaign that was about all of God's children.
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  Speaker 1: He wasn't just talking about black people. He was talking
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  Speaker 1: about poor whites. Also at that point, there are more
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  Speaker 1: poor whites in America now and then than poor anybody else.
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  Speaker 1: That is a literal fact. And I believe it is
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  Speaker 1: also true that the number one group dying in America
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  Speaker 1: today are high school educated white men dying of opioid addiction,
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  Speaker 1: which is basically just lost aspiration to the addiction. That
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  Speaker 1: the drugs are really just the side show. The real
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  Speaker 1: issue here. It is lost hope, depression, a lack of opportunity.
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  Speaker 1: And I'm talking about an opportunity economy. That's what we're
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  Speaker 1: talking about today, is an opportunity economy. But I'm talking
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  Speaker 1: about your economy. It's your front door, your front door,
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  Speaker 1: it's your kitchen table. I'm talking about how to what
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  Speaker 1: you There's some many things you can control. I'm going
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  Speaker 1: to talk about something you can control. So doctor King
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  Speaker 1: was talking about all of God's children, right. He did
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  Speaker 1: say I'm here to say black America. He said, I'm
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  Speaker 1: here to redeem the soul of America from the triple
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  Speaker 1: evils of war, racism, and poverty. And he was right,
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  Speaker 1: and unfortunately he was assassinated before he could do his
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  Speaker 1: first March. We issued a series of business plans on
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  Speaker 1: that day. You can go to Dreamford at Operation Hope
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  Speaker 1: website and download them, look at them for yourself, evaluate
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  Speaker 1: them yourself, analyze them yourself. They're all rooted in some
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  Speaker 1: basic realities and facts. Feel free to beat them up
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  Speaker 1: if you like, send them back to us if you disagree.
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  Speaker 1: So I'm very hard to disagree with basic numbers, but
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  Speaker 1: I'm more than open if you want to make them better,
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  Speaker 1: you can make them better. Fantastic Emory University, the Economics
• 5:50
  Speaker 1: Department at Emory University, and Atlanta University Business School at
• 5:56
  Speaker 1: HBCU have both agreed to be the quarterback for finding
• 6:00
  Speaker 1: these business plans as we get into the fall of
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  Speaker 1: this year and we present final plans at the whole
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  Speaker 1: global form. Okay, now I've talked enough. That's five minutes
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  Speaker 1: about the philosophy and all that stuff. I know you
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  Speaker 1: have precious time you want to I just wanted to
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  Speaker 1: let you know what this is about and what this
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  Speaker 1: is not about. And what I think. I think the
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  Speaker 1: country is sort of wasting a lot of time arguing
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  Speaker 1: about things because I really think that we can solve
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  Speaker 1: I don't know eighty percent of our problems if we
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  Speaker 1: get our economics straight right, if everybody has a personal
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  Speaker 1: aspirational ladder that they feel it's repaired enough for them
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  Speaker 1: to get on into increase. People say all the time
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  Speaker 1: when I'm giving speeches in mostly urban communities, I go everywhere.
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  Speaker 1: I would just say west Point speaking as in West
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  Speaker 1: Point the military academy. But I go to urban communities
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  Speaker 1: all the time, and people say I hate rich people,
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  Speaker 1: and I have to remind them, know, you don't. You
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  Speaker 1: hate rich people until you become rich. What you hate
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  Speaker 1: is a gamed system, right, A system that you believe
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  Speaker 1: that is rigged against your success, that no matter how
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  Speaker 1: hard you work, you can't seem to get over, you
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  Speaker 1: can't seem to advance yourself, right, And that's not good.
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  Speaker 1: If you don't believe this country is not a country,
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  Speaker 1: She's an idea you can make or anything you want,
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  Speaker 1: and with enough hustle, you should be able to aspire
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  Speaker 1: and hustle in a business plan and a hope and
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  Speaker 1: hope tied to a business plan. You should have doors
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  Speaker 1: open for you or you should be able to open
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  Speaker 1: doors to unlock the power of success in your life.
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  Speaker 1: So this is everybody's problem. And let's see at the
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  Speaker 1: end of this podcast, I've always wasted in vested six
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  Speaker 1: and a half minutes and setting this up. Let's see
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  Speaker 1: if I can spend the next forty minutes, forty five
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  Speaker 1: minutes giving you some data that absolutely unimpeachable and hit
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  Speaker 1: me on social media, hit me on comments and tell
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  Speaker 1: tell me whether you agree with this or not. But
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  Speaker 1: I want you to. I want you to tell your
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  Speaker 1: friends and subscribe to this podcast. I want them to subscribe.
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  Speaker 1: I want them to follow me on YouTube, on Instagram,
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  Speaker 1: on LinkedIn, on threads, wherever you find your social media platforms.
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  Speaker 1: Because because on those comments, those comments, those platforms, I
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  Speaker 1: actually answered you leave a comment there, I will actually
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  Speaker 1: answer it myself. Between meetings and trying to grow businesses. Okay,
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  Speaker 1: here's the first bombshell. If you listen, want somebody else
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  Speaker 1: listen to this and get to the meat of it.
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  Speaker 1: Whether they're you know, whatever, going through the motions their day,
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  Speaker 1: they're traveling, they're on they're commuting, they're cooking food, whatever,
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  Speaker 1: they're jogging. Okay, when does John get into the seven
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  Speaker 1: and a half minute mark. Here you go, first, bombshell.
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  Speaker 1: If you raise your credit score from five hundred to
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  Speaker 1: seven hundred, you'll live on average twenty year longer life. Boom. Yes,
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  Speaker 1: that's exactly right. I did not h exaggerate one little bit.
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  Speaker 1: And I'll get into each of these topics in some
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  Speaker 1: in some detail, but I want to I want to
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  Speaker 1: lay some bombs out for you. The data that experience.
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  Speaker 1: We have a Hope Financial Wellness Index that opera shop.
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  Speaker 1: You can go to the Opera Shops website. You can
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  Speaker 1: type in uh your zip code, go to Opera Shop website,
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  Speaker 1: or just type just search Hope Financial Wellness Index. I've
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  Speaker 1: given you all these We're the economic plumbing for the country,
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  Speaker 1: the bottom half of the country. So I'm giving you
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  Speaker 1: all these tools you can use on your own. By
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  Speaker 1: the way, everything is everything I'm telling you can go
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  Speaker 1: do it and yourself. You want to, let me tell
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  Speaker 1: you how you're living. Tell me your zip code and
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  Speaker 1: tell me and I'll tell you your credit score and I'll
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  Speaker 1: tell you how you're living. Go to the Hope Financial
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  Speaker 1: Wellness index. Type in your zip code, and we'll tell
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  Speaker 1: you your credit score for you and your neighbors. Right,
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  Speaker 1: I tell you what I tell you before. If you
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  Speaker 1: hang around nine broke people, you'll be the tenth. The
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  Speaker 1: opposite is also true. Uh, you model what you see.
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  Speaker 1: So what we have found is if you live in
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  Speaker 1: a five hundred credit score neighborhood, you live to about
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  Speaker 1: sixty one years of age, give or take. Black and
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  Speaker 1: brown urban poor, right, rural, doesn't matter. You live in
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  Speaker 1: a seven hundred credit score neighborhood, okay, you lived to
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  Speaker 1: about eighty one years of age. Black and brown urban poor,
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  Speaker 1: I mean black and black and white. A black, a
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  Speaker 1: black seven undre credit corred community or a white seven
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  Speaker 1: undre credit card community. It matters. Not a tan one
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  Speaker 1: I mean my Asian brother sisters or latinos doesn't matter. Okay,
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  Speaker 1: this data is unimpeachable, and so that means for about
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  Speaker 1: every fifty point increase in credit score, you live a
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  Speaker 1: fifty five live about five year longer life. And it's
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  Speaker 1: not about the credit score per se. It's about the
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  Speaker 1: trending indicators of hope, well being, belief, confidence, joy, optimism,
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  Speaker 1: whether you believe you can or whether you believe you
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  Speaker 1: can't it, you're absolutely right. Is the glass half full
• 11:04
  Speaker 1: or glass half empty? Depends who's looking at the glass.
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  Speaker 1: I can't tell you, and I can't guarantee you that
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  Speaker 1: being optimistic and positive is going to make you a success,
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  Speaker 1: but I absolutely guarantee you that being negative will make
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  Speaker 1: you fail in time. So uh, And a lot of
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  Speaker 1: disease is disase. My wife, Shag is a wellness expert,
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  Speaker 1: and she has found that about seventy seventy five percent
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  Speaker 1: of all fitness is actually what you put in your mouth, right,
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  Speaker 1: and the twenty five percent is about twenty five percent
• 11:41
  Speaker 1: is working out. What are we obsessed on? We work
• 11:43
  Speaker 1: the working out part, and we put crap in our
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  Speaker 1: diet in our mouths possibly, right, And I've been getting
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  Speaker 1: to that why that's relevant to this example of five
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  Speaker 1: hundre credits words versus seven in critsicqure in neighborhoods. Right,
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  Speaker 1: If you put crap in your in your diet and
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  Speaker 1: put that diet in your mouth of preservatives and bad foods,
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  Speaker 1: you're going to inflame. And and I think it's seventy
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  Speaker 1: percent of all disease lives on inflammation. I may not
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  Speaker 1: be right about that. I'm not a help a wellness expert.
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  Speaker 1: My wife is. She's not in this podcast. But I
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  Speaker 1: believe that's the number. The numbers. I'll tell you when
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  Speaker 1: i'm sure about something, which is ninety five percent of
• 12:14
  Speaker 1: this podcast, and I tell you when I'm not sure.
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  Speaker 1: I'm guessing. I'm guestimating, and I just guestimated based on
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  Speaker 1: my memory. But I'm not far off. But you didn't,
• 12:22
  Speaker 1: you know, comment on things that you want clarification on.
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  Speaker 1: So the life expectancy is a real situation, all right.
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  Speaker 1: We have you a census data, We've got experience credit
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  Speaker 1: score data. We overlay it. We have all the credit bureaus,
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  Speaker 1: we have our own data Operation Hope. In a fiber
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  Speaker 1: a credit score neighborhood. You have higher poverty rates, you
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  Speaker 1: have lower educational attainment. You have food deserts okay, a
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  Speaker 1: lot of fast food restaurants. Nothing wrong with fast food
• 12:51
  Speaker 1: or soul food. Every now and then, you shouldn't need
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  Speaker 1: it every day, three times a day as a replacement
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  Speaker 1: for fruits and vegetables, silads, and you know, preferably farm
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  Speaker 1: farm raised beef and clean fish and all that kind
• 13:05
  Speaker 1: of stuff. Something green on your plate every day. You
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  Speaker 1: have food deserts in these communities, you have limited health
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  Speaker 1: care access, you have environmental hazards in these communities. By contrast,
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  Speaker 1: areas where credit score is above seven hundred tend to
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  Speaker 1: have higher incomes, higher educational levels. I'm gonna get in
• 13:24
  Speaker 1: this again. I'm gonna dig dig deep into this better
• 13:27
  Speaker 1: housing and healthcare, safer environments. And this data, by the way,
• 13:33
  Speaker 1: comes from Robert Wood Johnson Foundation. That CDC studies, the
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  Speaker 1: Operation Hope Financial Wellness Index and other sources. Now in
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  Speaker 1: the U A census, if you live in a five
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  Speaker 1: hundred credit cord neighborhood, right, you see you tend to
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  Speaker 1: see a check casher next to a paytay loan lender,
• 13:58
  Speaker 1: next to a rent to own store, next to a
• 14:00
  Speaker 1: title lender, next to a liquor store. If your head
• 14:05
  Speaker 1: nodding yet next to a pawn shop. If anybody heard
• 14:08
  Speaker 1: me speak, you've heard me covered this.
• 14:10
  Speaker 3: Uh.
• 14:10
  Speaker 1: If I got into it, I got into a rhythm
• 14:13
  Speaker 1: next to next to well a church down the street,
• 14:19
  Speaker 1: trying to make you feel a little bit better once
• 14:20
  Speaker 1: a week. That's your neighborhood therapist. Right. I love black
• 14:23
  Speaker 1: people saying, oh, you know I don't go to it.
• 14:25
  Speaker 1: I'm not gonna go to a psychologist or shrink. Somebody
• 14:27
  Speaker 1: might think I'm crazy. If you black in America, the
• 14:31
  Speaker 1: joke goes and you don't think you're a little crazy,
• 14:33
  Speaker 1: You're probably crazy. We've been doing so much with so
• 14:37
  Speaker 1: little for so long, you know, almost doing anything with nothing.
• 14:40
  Speaker 1: We wake up with hustle on our brains and struggle
• 14:43
  Speaker 1: in our veins. But we got to go from a
• 14:45
  Speaker 1: surviving mindset and struggling mindset to a thribbing mindset middle
• 14:49
  Speaker 1: class to a winning mindset winners or builders. Right, So
• 14:52
  Speaker 1: I'm trying to get your mind right right, because all
• 14:55
  Speaker 1: poverty other than susten is poverty which is a roof
• 14:57
  Speaker 1: over your head and food on the table and reasonable health, healthcare,
• 15:00
  Speaker 1: all other forms of poverty right our mindset. So uh,
• 15:06
  Speaker 1: that's why this credit score thing is so powerful, because
• 15:09
  Speaker 1: it's not about the credit score per se. It's a
• 15:11
  Speaker 1: credit card again, is a trending indicator for these other
• 15:14
  Speaker 1: underlying situations. And it's really has to do with your mindset,
• 15:17
  Speaker 1: how you see the world and how and you will
• 15:19
  Speaker 1: see one of you and know if your neighbors, by
• 15:21
  Speaker 1: the way, aligned with your mindset. You know, you need
• 15:24
  Speaker 1: to change your neighbors, change your life, or change your community. Right, Okay,
• 15:37
  Speaker 1: so we set this. We've set this up, and now
• 15:40
  Speaker 1: I want to I want to get into this because
• 15:41
  Speaker 1: I'm gonna deal with uh with yes, of course, the
• 15:44
  Speaker 1: black community. I'm gonna deal with the Latino community. And
• 15:46
  Speaker 1: I'm gonna deal with white America. There are more poor
• 15:49
  Speaker 1: Whites in America than poor anybody else proved. This is
• 15:51
  Speaker 1: not a racial issue. I mean black and verment. I mean,
• 15:54
  Speaker 1: I'm gonna i'mna just start peppering stuff in here. Deal
• 15:56
  Speaker 1: with with with Native American that I mentioned that and
• 15:59
  Speaker 1: when women uh as I've written these business plans reach
• 16:03
  Speaker 1: to these groups. By the way, again able at the
• 16:05
  Speaker 1: dream Forward website. You can download it and discuss it
• 16:08
  Speaker 1: and adapt it for your own life. But folks will
• 16:12
  Speaker 1: focus on the fact that, okay, black people, you're so
• 16:15
  Speaker 1: emotional and you ride in the streets poor black people. Okay.
• 16:18
  Speaker 1: Doctor King once said that violence was the was the
• 16:21
  Speaker 1: language of the unseen and the unheard. Whether it's not
• 16:24
  Speaker 1: just physical violence or yeah, physical violence, there's also political violence.
• 16:29
  Speaker 1: I mean a lot of my poor white prosis and
• 16:31
  Speaker 1: sisters have found it important. The riot of the ballot box.
• 16:33
  Speaker 1: They're they're frustrated, and they're trying to find a white
• 16:36
  Speaker 1: way to be heard also and they and they deserve
• 16:38
  Speaker 1: to be heard. Right. So none of but none of
• 16:41
  Speaker 1: this leads anywhere Riding in the streets or writing in
• 16:43
  Speaker 1: the ballot box, none of this leads anywhere productive. We've
• 16:46
  Speaker 1: got to have solutions to our problems. Uh, And that's
• 16:51
  Speaker 1: what I am about. So you have I'm going to
• 16:57
  Speaker 1: break down states and cities and regions by credit score.
• 17:01
  Speaker 1: I'm going to talk about high credit score communities and
• 17:05
  Speaker 1: lower credit score communities. I'm going to talk about maybe
• 17:11
  Speaker 1: where you should consider living or whether you should consider
• 17:14
  Speaker 1: as an opportunity to revitalize. Right, So let me get
• 17:19
  Speaker 1: into some of the real nitty gritty stuff here, because
• 17:23
  Speaker 1: this stuff is really quite powerful. Just jump into it.
• 17:30
  Speaker 1: And by the way, Operation Hope, which is a resource
• 17:33
  Speaker 1: for you, We have fifteen hundred offices in forty two states.
• 17:37
  Speaker 1: I think it's three hundred physical locations and growing where.
• 17:41
  Speaker 1: The only nonprofit ever allowed to operate inside of a
• 17:44
  Speaker 1: bank branch in United States history, the FFIEC that joint
• 17:48
  Speaker 1: regulatory agencies all co signed more than a decade ago
• 17:55
  Speaker 1: for us to operate inside of a bank, getting the
• 17:57
  Speaker 1: bank out of the no business, sorry you declined for
• 18:00
  Speaker 1: or credit, and back into the yes business. So we're
• 18:02
  Speaker 1: in the biggest banks in America. We're the only non
• 18:04
  Speaker 1: profit that myth that met the criteria, and we are moving.
• 18:08
  Speaker 1: Credit score is fifty four points in six months, one
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  Speaker 1: hundred and twenty points in twenty four months. Nothing changes
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  Speaker 1: your life more than God or love than moving your
• 18:15
  Speaker 1: credit score one hundred and twenty points. When you go
• 18:18
  Speaker 1: to the club tonight and you meet that beautiful lady,
• 18:22
  Speaker 1: you see that handsome dude. After you go to work,
• 18:25
  Speaker 1: you go to the club, you want to relax. Hey,
• 18:27
  Speaker 1: what's your name? How are you doing? Yeah? If you
• 18:29
  Speaker 1: ask the name, ask what the credit score is, because
• 18:32
  Speaker 1: that's not just a cute date. If you get serious
• 18:35
  Speaker 1: about this person, this is your business partner for life. Right,
• 18:39
  Speaker 1: So this affects every part of your life. This financial
• 18:42
  Speaker 1: literacy is the civil rights issue of this generation. And
• 18:45
  Speaker 1: credit scores might be like counting the votes. Right, and
• 18:49
  Speaker 1: credit scordes are as important as a four year education,
• 18:52
  Speaker 1: should not replace it, but it is as important for
• 18:55
  Speaker 1: you to achieve your freedom as a four year education.
• 18:58
  Speaker 1: You have both. You should have some out of higher
• 19:00
  Speaker 1: education and you should have a competitive credit score as
• 19:05
  Speaker 1: a baseline for getting your freedom. Is my friend, the
• 19:09
  Speaker 1: CEO of Key Bank once told me. He said, John,
• 19:14
  Speaker 1: Chris Gorman told me. As we're opening on Hope Inside location,
• 19:17
  Speaker 1: he said, John, it is entirely possible that financial freedom
• 19:21
  Speaker 1: is the only true freedom, because every other freedom can
• 19:23
  Speaker 1: be taken from you. Political freedom, religious freedom, social freedoms.
• 19:28
  Speaker 1: All these freedoms can be taken for you. But once
• 19:29
  Speaker 1: you have economic freedom, you have financial literacy. You understand
• 19:32
  Speaker 1: how this system works. Unless you give it away in
• 19:35
  Speaker 1: some way, it cannot be co opted or taken away
• 19:40
  Speaker 1: from you. It's very powerful because you own it. And
• 19:43
  Speaker 1: I'm going to show you how to change and move
• 19:44
  Speaker 1: your credit scores. Again. We're doing that at Operation to
• 19:46
  Speaker 1: Hope for not free. It costs money, but we have
• 19:50
  Speaker 1: arranged through funding to get this scholarship for you. So
• 19:54
  Speaker 1: everybody listening to this. If you go to Hope inside
• 19:57
  Speaker 1: so or Hope in Hand app on your Android or
• 20:01
  Speaker 1: Apple phone, you download a open hand app and you
• 20:05
  Speaker 1: go in there and you tell John say that John
• 20:07
  Speaker 1: Brian sent you, or you call our call our one
• 20:09
  Speaker 1: eight hundred number, or you go to Operation Hope dot
• 20:13
  Speaker 1: org and are you walking to a physical location one
• 20:16
  Speaker 1: that go to our map at Operation Hope and find
• 20:18
  Speaker 1: a location across this country and you go in. You
• 20:20
  Speaker 1: tell them I sent you. You'll get one thousand dollars scholarship
• 20:23
  Speaker 1: good for twelve months for free financial coaching and counseling.
• 20:28
  Speaker 1: Whether you're in West Virginia or you in West Hollywood,
• 20:32
  Speaker 1: whether you're in you know, Tupelo, Mississippi, or whether you're
• 20:35
  Speaker 1: in Topeka, Kansas, whether you're in Detroit, Michigan, or whether
• 20:40
  Speaker 1: you're in More des Moines Des Moines, Iowa. Right, it
• 20:43
  Speaker 1: doesn't matter. We are there for you, and we're there
• 20:48
  Speaker 1: to help you move your credit score up fifty four
• 20:50
  Speaker 1: points to one hundred and twenty points, reduce your debt
• 20:53
  Speaker 1: thirty eight hundred dollars on average. This is what we're
• 20:56
  Speaker 1: doing in Operation Hope, increasing savings about twelve hundred dollars
• 20:59
  Speaker 1: for somebody making about forty eight thousand dollars a year.
• 21:02
  Speaker 1: That transforms your life, that makes you bankable. Right that
• 21:07
  Speaker 1: that means a banking goes from telling you no, sorry,
• 21:10
  Speaker 1: can't approve you to now saying yes, what can we
• 21:13
  Speaker 1: approve you for? What is it that you want? You
• 21:15
  Speaker 1: would become a homeowner, You want to send your kid
• 21:18
  Speaker 1: to college, You want to get a new auto loan.
• 21:19
  Speaker 1: You want to get a lower interest rate credit card.
• 21:21
  Speaker 1: You want to refinanswer a month eighteen to twenty five
• 21:24
  Speaker 1: percent credit card down to a twelve percent credit card,
• 21:26
  Speaker 1: or an eighteen to thirty percent all a loan down
• 21:30
  Speaker 1: to sub ten percent auto loan. This is what happens
• 21:33
  Speaker 1: when you can when you master these three things I
• 21:35
  Speaker 1: just told you about, get your credit score up fifty
• 21:38
  Speaker 1: four points, get your debt down thirty eight hundred dollars,
• 21:41
  Speaker 1: gets your savings up twelve hundred dollars. Which is what
• 21:43
  Speaker 1: Operation Hope is doing over the course of about six
• 21:46
  Speaker 1: months to a year. That allows you to get into
• 21:49
  Speaker 1: the game right, and then we just keep increasing that.
• 21:53
  Speaker 1: We've funded about four and a half billion dollars in
• 21:56
  Speaker 1: capital for home ownership, restructing your life, a small business entrepreneurship,
• 22:02
  Speaker 1: using these tools to then get the prime credit providers
• 22:06
  Speaker 1: to then say yes, which then grows economic opportunity for you,
• 22:10
  Speaker 1: grows GDP for that city that you live in or
• 22:13
  Speaker 1: a state. It moves your burden on the public system
• 22:18
  Speaker 1: and makes you more independent. It increases your health, increases
• 22:22
  Speaker 1: your prosperity, increases your optimism. You start to get it,
• 22:25
  Speaker 1: starting to is the light's starting to go on. Okay,
• 22:27
  Speaker 1: let me get into this, into this data here, So
• 22:31
  Speaker 1: rural America, poor whites. Let's get to this first and again.
• 22:34
  Speaker 1: I wrote a business plan position. Go read it for yourself.
• 22:38
  Speaker 1: The average credit score in rural American communities is five
• 22:42
  Speaker 1: sixty to six point twenty. I really need you all
• 22:48
  Speaker 1: to pay very close attention to this data because we're
• 22:54
  Speaker 1: more like all of us than you think. The average
• 22:58
  Speaker 1: credit score, by the way, for African America across the country,
• 23:01
  Speaker 1: not poor black people, all African Americans, is six twenty,
• 23:07
  Speaker 1: which means there's a bunch of folks above six twenty,
• 23:09
  Speaker 1: like me who are at seven fifty or eight hundred.
• 23:13
  Speaker 1: But there are tons more than are in five hundred
• 23:16
  Speaker 1: five to fifty range, which dragged that number down. So
• 23:19
  Speaker 1: the average is six twenty. Right. The average credit score
• 23:24
  Speaker 1: in rural areas and particularly with poor white communities are
• 23:28
  Speaker 1: between five sixty and six twenty, so about the same range.
• 23:33
  Speaker 1: What happens in these communities they have higher rates of
• 23:36
  Speaker 1: medical debt. Okay, it was recently arranged. It was actually
• 23:41
  Speaker 1: a recommendation that operations help with. Again, we're nonpartisan. We
• 23:47
  Speaker 1: work with Republican and Democratic administrations. Anybody who wants to
• 23:52
  Speaker 1: work with us to help the advance the state of
• 23:54
  Speaker 1: people's lives. Of known twelve Secretaries of the Treasury of
• 23:57
  Speaker 1: known none US presidents. We have been wrecked nine by
• 24:00
  Speaker 1: five US presidents from both parties, and I've served as
• 24:03
  Speaker 1: an advisor for three US presidents from both parties. And
• 24:07
  Speaker 1: the last administration, medical debt was an issue that so
• 24:12
  Speaker 1: that basically this does not affect your credit score anymore. Okay,
• 24:14
  Speaker 1: now we'll see what we can get done now. So
• 24:19
  Speaker 1: these communities have higher rates of medical debt, thin credit files, right,
• 24:23
  Speaker 1: and tend to deal with payday lending. Okay. And by
• 24:26
  Speaker 1: the way, you go around outside of a military base,
• 24:28
  Speaker 1: and you're going to see the same thing, right, you're
• 24:30
  Speaker 1: going to see and these are blacks, whites, Latin, those Asians, everybody, women, everybody. Right,
• 24:36
  Speaker 1: You're going to see all these financial predators stacked up
• 24:39
  Speaker 1: outside the military base because they know that these military
• 24:42
  Speaker 1: personnel can't afford to have negative stuff on their credit
• 24:46
  Speaker 1: report or negative financial situations because you lose your security clearance. Okay,
• 24:51
  Speaker 1: are you guys following me on this? Like this is
• 24:53
  Speaker 1: I'm giving you a lot. As jay Z said, I'm
• 24:56
  Speaker 1: gonna give you a million dollars with a game for
• 24:57
  Speaker 1: nine ninety nine, I'm giving you when you're five millionars
• 25:01
  Speaker 1: with a game for none ninety nine. You're not paying
• 25:03
  Speaker 1: for dime of this podcast. This is free to you, right,
• 25:07
  Speaker 1: thank you, Black Effect Network. Okay, So if credit scores
• 25:11
  Speaker 1: rise by fifty to one hundred points right to six
• 25:14
  Speaker 1: seventy to seven twenty, home ownership approval approvals increase in
• 25:20
  Speaker 1: these communities. Using USDA and FHA loans, local entrepreneurship expands,
• 25:26
  Speaker 1: especially in trades, farming, and logistics. You reduce reliance on
• 25:30
  Speaker 1: predatory credit. Household savings rates about fifteen percent. Apprenticeships and
• 25:36
  Speaker 1: job stability improve and with access to car loans prime
• 25:40
  Speaker 1: car loans for job commuting. Rural America doesn't need a bailout,
• 25:46
  Speaker 1: it needs access. Credit score credit score increases unlocks that access.
• 25:54
  Speaker 1: Let me now jump into Native American community. By the way,
• 25:57
  Speaker 1: if you want to know the Black Business Plan, I
• 25:59
  Speaker 1: cover that as a solo in the last I think
• 26:02
  Speaker 1: two episodes ago one or two episodes ago. So go
• 26:04
  Speaker 1: back and read, read, listen to that episode. I cover
• 26:08
  Speaker 1: that uh in total and really impact that. I'm just
• 26:11
  Speaker 1: focusing now on credit scores for everybody. Uh so credit score,
• 26:17
  Speaker 1: the credit situation for Native American communities, UH many tribal
• 26:22
  Speaker 1: areas lack mainstream credit options. By the way, I'm pretty
• 26:25
  Speaker 1: sure that the largest alcoholism rate in the country are
• 26:31
  Speaker 1: Native American uh Indian communities. And I think I don't
• 26:35
  Speaker 1: have it documented, but I think that the one of
• 26:37
  Speaker 1: the largest depression rates are at least uh not not clinically dictated,
• 26:45
  Speaker 1: not clinically prescribed depression, but I mean just like emotionally
• 26:48
  Speaker 1: down is in the afric American community. So I think
• 26:51
  Speaker 1: these three groups, because they've never got the memo that's
• 26:53
  Speaker 1: my fourth book of how the system works, they've been
• 26:56
  Speaker 1: locked out of. You know, the five pillars of success.
• 26:59
  Speaker 1: As much as education, you shove down your throat, understanding
• 27:02
  Speaker 1: how the system works, financial literacy, family structure and resiliency,
• 27:06
  Speaker 1: self esteem and confidence, role models and environment. Those five things.
• 27:09
  Speaker 1: If you missed three to four of those or five
• 27:11
  Speaker 1: of those things, then you tend to be depressed, distressed,
• 27:13
  Speaker 1: and you tend to take it out on yourself and others.
• 27:16
  Speaker 1: That's the white community, poor white community. I cover that
• 27:19
  Speaker 1: the number one cause of death for the number one
• 27:21
  Speaker 1: group dying in America or white men. That covered that
• 27:24
  Speaker 1: I talked about. Now the Native American Indians have just
• 27:26
  Speaker 1: talked about African Americans and African Americans as differentiated from
• 27:29
  Speaker 1: our Caribbean brothers and sisters and our African brothers and
• 27:31
  Speaker 1: sisters who have problems, but different problems than the one
• 27:34
  Speaker 1: I just described. Okay, I'm just trying to break this
• 27:37
  Speaker 1: stuff down so it's non emotional, just the data. So
• 27:41
  Speaker 1: back to the Native American communities average credit score five
• 27:44
  Speaker 1: eighty to six thirty. See how similar this is limited
• 27:46
  Speaker 1: access to traditional banking and generational wealth assets. If credit
• 27:51
  Speaker 1: scores rise fifty to one hundred points, tribal home loans increase.
• 27:56
  Speaker 1: Use this the HUD one Need four program that they
• 27:58
  Speaker 1: would use greater small business approvals via cd f I,
• 28:01
  Speaker 1: s H, community Development Financialstitutions, and b I A loan guarantees.
• 28:07
  Speaker 1: These are loan guarantees for Native American Indian populations. Financial
• 28:11
  Speaker 1: literacy becomes a sovereign tool. Sovereign a sovereignty tool, reducing
• 28:15
  Speaker 1: reliance on extractive outside services, gambling, except things like that,
• 28:22
  Speaker 1: uh reinvestment into tribal economic growth, native led banks, businesses,
• 28:28
  Speaker 1: and schools. Women are a third of the US economy.
• 28:30
  Speaker 1: Just so you know, I've covered women in a separate
• 28:33
  Speaker 1: situation podcast. You want me to go deeper with women,
• 28:37
  Speaker 1: put put in one of the comments. I'll do a
• 28:39
  Speaker 1: podcast just on the power, the untip power, untapped power
• 28:43
  Speaker 1: of women and their role in the American economies. Let
• 28:45
  Speaker 1: me know, including black women, by the way, which was
• 28:48
  Speaker 1: the biggest group of book buyers in the country, most educated?
• 28:52
  Speaker 1: I believe group I know, the biggest group of group
• 28:55
  Speaker 1: of book buyers, by the way, Black women. Okay, so women,
• 28:59
  Speaker 1: credit exists. Credit gaphic exists due to historic under banking,
• 29:04
  Speaker 1: especially for single mothers and entrepreneurs. Do you know that
• 29:06
  Speaker 1: a woman could not open a bank account in nineteen
• 29:09
  Speaker 1: seventy two? Hello, couldn't get alone lest her husband co
• 29:12
  Speaker 1: signed it in nineteen seventy two, not eighteen seventy two.
• 29:17
  Speaker 1: They actually benefited from women that benefited from a firmative
• 29:20
  Speaker 1: action design for African Americans. Whole another big podcast and
• 29:24
  Speaker 1: discussion at another time tied to our history. But anyway,
• 29:29
  Speaker 1: and I say, God bless them. I'm glad somebody benefited.
• 29:32
  Speaker 1: And of course, seventy percent of all households in Black
• 29:34
  Speaker 1: America are run by women, give or take. So think
• 29:37
  Speaker 1: about the stress that it creates. If credit score is
• 29:39
  Speaker 1: rised by fifty to one hundred points, women deserve a
• 29:42
  Speaker 1: nobel peace rise, just raising our families. By the way,
• 29:45
  Speaker 1: without women, it'd be many less men. Joke reality, think
• 29:50
  Speaker 1: about it dropped the mic. More women qualified for solo
• 29:54
  Speaker 1: home ownership with their credit score rises, Female entrepreneurs access
• 29:58
  Speaker 1: working capital, Denial rates are right are fifteen to tweets in
• 30:02
  Speaker 1: higher than men. That's ridiculous, by the way, it shouldn't
• 30:05
  Speaker 1: be that way, clearly discrimination. But we're going to just
• 30:08
  Speaker 1: work around it. Less financial stress equals increased productivity, health
• 30:13
  Speaker 1: and retirement planning, child stability improves greater maternal financial strength,
• 30:19
  Speaker 1: right and being able to get childcare. When women raise
• 30:23
  Speaker 1: their credit scores, they don't just change their lives, They
• 30:25
  Speaker 1: change the lives of everyone who depends on them. They're
• 30:27
  Speaker 1: domestic engineers. They deserve to be supported. Latino communities current situation.
• 30:42
  Speaker 1: The average credit score is sixty ten sixty sixty five.
• 30:45
  Speaker 1: They often often limited credit histories, fewer assets, and first
• 30:49
  Speaker 1: generation financial systems. If a credit score increases fifty two
• 30:53
  Speaker 1: hundred points, explosives growth in the first time home ownership
• 30:56
  Speaker 1: would happen. Immigrant entrepreneurs gain access to business lines of credit,
• 31:01
  Speaker 1: integrational intergenerational transfers. Wealth begins through home equity and savings.
• 31:06
  Speaker 1: What I tell you the number one way you do
• 31:08
  Speaker 1: a wealth in America home ownership is applies to everybody.
• 31:12
  Speaker 1: Children benefit from lower student loan rates and co and
• 31:15
  Speaker 1: co sign access to education. The American dream becomes real
• 31:20
  Speaker 1: for Latino families when access meets credit. Hello, it's a
• 31:23
  Speaker 1: rap baby. The bottom twenty percent of GDP zip codes
• 31:27
  Speaker 1: of all group have a credit score between five fifty
• 31:32
  Speaker 1: and five eighty that disproportionately impacted by crime, unemployment, housing,
• 31:37
  Speaker 1: and housing instability. Let me get into specifically what this
• 31:41
  Speaker 1: means on average. When the Hope Financial Oness Index, we
• 31:45
  Speaker 1: found that the fire under credit cord neighborhood has about
• 31:49
  Speaker 1: a sixty one percent sixty six sixty percent in graduation
• 31:53
  Speaker 1: rate from high school. A seven under credit card community
• 31:57
  Speaker 1: has about a ninety two ninety six percent. Great situation
• 32:00
  Speaker 1: from high school, which means it's gone to college. Okay,
• 32:02
  Speaker 1: seven hundred credscore neighborhoods two parent households, five hundred creditscorre
• 32:06
  Speaker 1: neighborhoods one parent household, five under Cresscore neighborhood violent crimes
• 32:11
  Speaker 1: per thousand, off the chain, seven und creditscre neighborhoods violent
• 32:16
  Speaker 1: crimes per thousand, No chain at all, almost non existent.
• 32:20
  Speaker 1: Home Ownership rates in a five under crescore neighborhood fourteen percent,
• 32:24
  Speaker 1: twenty percent maximum forty percent. You ont to average home
• 32:28
  Speaker 1: ownership rates in a seven in the crescore neighborhood seventy
• 32:31
  Speaker 1: five percent. See how consistent this is. You lived sixty
• 32:34
  Speaker 1: to sixty one years of age maximum in a fire
• 32:37
  Speaker 1: under credit coord neighborhood. Whe're looking for surviving mindset. Heck,
• 32:40
  Speaker 1: you don't even get sold security right in that Joe
• 32:44
  Speaker 1: work your whole life and you don't even get what
• 32:46
  Speaker 1: you worked for. You lived to eight seven in the
• 32:48
  Speaker 1: chrescorre community typically fifteen minutes apart in an urban city,
• 32:53
  Speaker 1: eighty one years of age, again a twenty year delta difference.
• 32:57
  Speaker 1: By just doing something that you can control, which is
• 33:01
  Speaker 1: raising your credit score. It's so many examples of this.
• 33:05
  Speaker 1: If credit card rises fifteen one hundred points. Right, community
• 33:08
  Speaker 1: stability is gained through mortgage approvals because you're becoming a
• 33:13
  Speaker 1: homeowner and nobody washes rental cars. Okay, how nice you are?
• 33:18
  Speaker 1: You take that rental car back to the owner. You
• 33:19
  Speaker 1: let him wash it or her wash it. Right, that car,
• 33:22
  Speaker 1: you can write your name on the window. After two weeks.
• 33:26
  Speaker 1: That rental car is not yours. But you own something,
• 33:29
  Speaker 1: you start taking care of it. Right. Local businesses thrive.
• 33:33
  Speaker 1: Is credit card delinquencies drop, crime rates fifteen to twenty
• 33:36
  Speaker 1: percent drops fifteen to twenty percent. Is the economic opportunity rises,
• 33:41
  Speaker 1: Schools improved with rising homeownership and tax bases. Raising credit
• 33:46
  Speaker 1: scords in the bottom twenty percent of America lifts the
• 33:49
  Speaker 1: entire nation. Whoo, can I get a name? Man? That's
• 33:51
  Speaker 1: what I'm talking about. Okay, Now I'm getting the part
• 33:54
  Speaker 1: that I'm really really excited about because I love people
• 33:57
  Speaker 1: like Okay, John, this is a nice theory. But what
• 33:59
  Speaker 1: about where I talk to me? You've been talking about
• 34:01
  Speaker 1: this stuff. Tell me some specifics so I can question it. Okay,
• 34:05
  Speaker 1: here we go the ten lowest credit card states in America.
• 34:09
  Speaker 1: Please write these down. Number one Mississippi also the most
• 34:15
  Speaker 1: unbanked state in America, poorest state in America, lowest credit
• 34:19
  Speaker 1: card state in America. America. Often these states that I'm
• 34:22
  Speaker 1: going to mention to you are often saying that they
• 34:24
  Speaker 1: hate the government, that they want to be self reliant.
• 34:27
  Speaker 1: This is again financial literacy. And typically, and I'm generalizing here,
• 34:31
  Speaker 1: typically for every two or three dollars of federal government support,
• 34:38
  Speaker 1: they're adding a dollar or so in GDP or economic activities.
• 34:42
  Speaker 1: So in other words, they're a net importer of subsidies
• 34:45
  Speaker 1: in the federal government. But these tend to be places
• 34:48
  Speaker 1: that think that they're self reliant and often will say
• 34:50
  Speaker 1: with bravado, I don't want the government in my life.
• 34:53
  Speaker 1: When you look at health care and Medicare and all
• 34:55
  Speaker 1: these other different programs, farm subsidies, all these stuff, you'll
• 34:59
  Speaker 1: find these a HEF subsidized areas. Again, this is just math.
• 35:03
  Speaker 1: I'm not picking you see in a minute, I'm gonna be
• 35:05
  Speaker 1: picking on everybody, right. This is not personal. It is
• 35:09
  Speaker 1: just it is what it is. Number one, and I
• 35:11
  Speaker 1: want to help Mississippi. I have offices in Mississippism. These
• 35:15
  Speaker 1: are opportunities where there are problems. Mississippi is six point
• 35:18
  Speaker 1: eighty right credit score. Right, that's the average, very small
• 35:22
  Speaker 1: group of people with the sevenator credit score community in Mississippi, unfortunately,
• 35:25
  Speaker 1: but it's an opportunity for those who would live there
• 35:28
  Speaker 1: and want to live there. It's an opportunity for you.
• 35:30
  Speaker 1: If you are in a sevenator credit score community in Mississippi.
• 35:32
  Speaker 1: Every every bank, every finishitution, every furniture store, whatever, every
• 35:37
  Speaker 1: department store wants to give you credit. Right, you just
• 35:41
  Speaker 1: write your own ticket Number two Louisiana six ninety Alabama
• 35:47
  Speaker 1: number three, six ninety two credit score Texas six ninety five,
• 35:53
  Speaker 1: Georgia six ninety five. I'm in Georgia right now. But
• 35:57
  Speaker 1: Atlanta as a city is basically Georgia economically. The city
• 36:02
  Speaker 1: of Atlanta as a GDP as an economy is bigger
• 36:04
  Speaker 1: than most states around Georgia combined. Two or three states
• 36:10
  Speaker 1: combined are smaller economically than the city of Atlanta. Atlanta, though,
• 36:16
  Speaker 1: has problems. It has areas that has very high credit
• 36:19
  Speaker 1: scores and very high levels of economic activity. It has
• 36:22
  Speaker 1: areas still that have low credit scores, like the TELA
• 36:24
  Speaker 1: two cities, and so Atlanta still has a kid. It's
• 36:26
  Speaker 1: act together. But the mayor and mayors have done a
• 36:30
  Speaker 1: great job here overall, and they made diversity of business strength,
• 36:33
  Speaker 1: which I keep talking about. The city of Atlanta has
• 36:35
  Speaker 1: the same size economy as this country I was at
• 36:38
  Speaker 1: three weeks ago, which is Singapore dropped the mic hello
• 36:42
  Speaker 1: number six state Arkansas six ninety six credit scores, seventh
• 36:47
  Speaker 1: state Oklahoma six ninety six, Nevada seven oh one, New
• 36:51
  Speaker 1: Mexico seven oh two, South Carolina, Carolina seven oh two.
• 36:56
  Speaker 1: The ten cities with the lowest average credit score Detroit
• 37:00
  Speaker 1: number one, five sixty six. See they're like okay, people
• 37:03
  Speaker 1: are like yeah, See, I knew there was a reason
• 37:06
  Speaker 1: Detroit in the fifties was the wealthiest city per capita
• 37:12
  Speaker 1: in the world. We're wealthier than Paris, wealthier than London, wealthier,
• 37:16
  Speaker 1: just the wealthier city. But they got the business plan wrong.
• 37:19
  Speaker 1: At some point they tripped themselves up. And I can
• 37:23
  Speaker 1: break down why in more details through you know, another podcast.
• 37:27
  Speaker 1: I don't want to burn up time here, but there
• 37:30
  Speaker 1: are reasons why. It is not having to do with
• 37:32
  Speaker 1: the efficacy or the viability of the people. They're people
• 37:37
  Speaker 1: They're fine. They just had a bad business plan. They
• 37:40
  Speaker 1: thought that they're having the automobile industry was enough. No,
• 37:42
  Speaker 1: you got to constantly sol upgrade your software. And you
• 37:45
  Speaker 1: cannot have the unions and the capitalists the management at
• 37:49
  Speaker 1: war with each other for twenty thirty years and with
• 37:53
  Speaker 1: the wrong set of priorities of why you're I mean,
• 37:56
  Speaker 1: the Bible says a house divided cannot stand anyway Detroit,
• 38:01
  Speaker 1: which I think is an enormous opportunity. I can't wait
• 38:03
  Speaker 1: to get busy going deeper in Detroit, working with the
• 38:06
  Speaker 1: mayor and others there. Uh. And I'm wanted to come
• 38:08
  Speaker 1: to your city, by the way, with my business plan
• 38:10
  Speaker 1: for America, for your city, get my book for ancial
• 38:13
  Speaker 1: literacy for all. Tell your mayor to get books for
• 38:16
  Speaker 1: his or her library. I'm will to you know, tell
• 38:19
  Speaker 1: them to listen to my podcast, you know, embrace opery
• 38:21
  Speaker 1: Shop as a partner. I wanted to come there and
• 38:23
  Speaker 1: do it. Speaking of with your mayor, have them send
• 38:26
  Speaker 1: a letter to my assistant, Kevin Bouchet in my office
• 38:30
  Speaker 1: runs strategy and communications, and I'll see when get it
• 38:33
  Speaker 1: on the schedule for our tour number so number two. Uh,
• 38:37
  Speaker 1: Colleen Klleen, Texas. Sorry by that of us mispronounced it.
• 38:40
  Speaker 1: Six forty two credit score, Washington, d C. In this
• 38:44
  Speaker 1: crazy six forty four credit score? Isn't that crazy?
• 38:48
  Speaker 3: Uh?
• 38:48
  Speaker 1: Even in our nation's capital Corpus Christi, Texas six forty eight, Mobile,
• 38:56
  Speaker 1: Alabama six point Fiftyville, Tennessee six fifty. See, I'm not
• 39:02
  Speaker 1: picking on anybody and picking on everybody. Fayetteville, North Carolina
• 39:07
  Speaker 1: six fifty one, Savannah, Georgia, six fifty two. Birmingham, Alabama,
• 39:12
  Speaker 1: six fifty three. I know the mayor there is really
• 39:15
  Speaker 1: trying to turn things around. We actually helped them become
• 39:18
  Speaker 1: a homeowner. The mayors in Birmingham's done a great job
• 39:22
  Speaker 1: with been a good friend. We have offices there and
• 39:25
  Speaker 1: we're working to get that number up. Columbia, Columbia, South Carolina,
• 39:28
  Speaker 1: six forty nine. Okay, Now, let's get into the areas
• 39:34
  Speaker 1: where the fire under credit score is within fifteen minutes
• 39:37
  Speaker 1: of a seven credit score. Community Detroit, Michigan five sixty
• 39:41
  Speaker 1: six and Gross Point, Michigan seven thirty fifteen minutes apart,
• 39:47
  Speaker 1: give or take South Central LA, where I'm from, five
• 39:51
  Speaker 1: eighty credit score. Culver City, California, seven twenty credit score.
• 39:57
  Speaker 1: I was just in Culver City. Blew my mind. The
• 40:00
  Speaker 1: economic activity, the entrepreneurship, the revitalizations happened in Culver City,
• 40:04
  Speaker 1: and black folks and brown folks. We could have we
• 40:07
  Speaker 1: lived in this area. We could have become the people
• 40:09
  Speaker 1: owned their property and did all the things. But we
• 40:12
  Speaker 1: didn't have the right business plan. We weren't focusing on
• 40:14
  Speaker 1: the right things. Where we're trying to rock the mic,
• 40:17
  Speaker 1: not on the mic right. So now somebody else does right.
• 40:20
  Speaker 1: You can't be mad at somebody else taking opportunity when
• 40:23
  Speaker 1: you could have yourself. But there's still time, there's still
• 40:26
  Speaker 1: ways to improve to wherever you are. You can still
• 40:30
  Speaker 1: do better, and I've got the tools to help you
• 40:32
  Speaker 1: get there. So don't get mad get even by succeeding
• 40:36
  Speaker 1: Number three. South Side of Chicago, Illinois. I toured this
• 40:40
  Speaker 1: area myself personally, and if you go to the Hope
• 40:44
  Speaker 1: Finage of one as Index, there's actually a PowerPoint you
• 40:47
  Speaker 1: can download of my tour there, and there's a social
• 40:51
  Speaker 1: media video that I did on this. We actually literally
• 40:55
  Speaker 1: showed you what I saw on the South Side of Chicago.
• 40:58
  Speaker 1: So South Side Chicago five ninety credit score. In Hyde
• 41:02
  Speaker 1: Park Illinois seven to ten credit score, okay, fifteen minutes apart. Oh,
• 41:08
  Speaker 1: and I actually took you on a tour. You can
• 41:10
  Speaker 1: watch one of my videos. I literally took you on
• 41:11
  Speaker 1: a tour on I drove from the South Side Chicago
• 41:15
  Speaker 1: to Hyde Park. I think it was Lincoln Park. Four
• 41:18
  Speaker 1: West Baltimore, Maryland a five to seventy credit score. Cantonsville, Maryland,
• 41:25
  Speaker 1: seven h five credit score, fifteen minutes apart. Number five
• 41:29
  Speaker 1: South Dallas, Texas, five eighty credit score, Highland Park, Texas,
• 41:33
  Speaker 1: seven to forty credit score, fifteen minutes apart. Where my
• 41:36
  Speaker 1: mother grew up, East Saint Louis. Again, I didn't make
• 41:39
  Speaker 1: this up. This is just an example. Five sixty credit score.
• 41:43
  Speaker 1: I'm picking on my mother and my auntie's hometown. Five
• 41:48
  Speaker 1: sixty credit score, okay, Clayton, Missouri, fifteen minutes apart, seven
• 41:53
  Speaker 1: to twenty five credit score. And I guarantee you go
• 41:55
  Speaker 1: to all these areas and you will find the data
• 41:58
  Speaker 1: I've given you is absolutely dead on right. That you
• 42:01
  Speaker 1: live shorter lives. You have more obesity, you've got more crime,
• 42:05
  Speaker 1: you've got more depression, you've got more anxiety, you got
• 42:09
  Speaker 1: you know, less nuclear prop families. You've got less restaurants
• 42:13
  Speaker 1: that sit down, You've got less park in green areas.
• 42:16
  Speaker 1: You got police that prey on you versus protect you,
• 42:21
  Speaker 1: that at least the perception of that, you've got less
• 42:23
  Speaker 1: economic activity, less small businesses, less services. And these fiving
• 42:26
  Speaker 1: and Chris Quad neighborhoods. You have check cashers, patiolon lenders,
• 42:29
  Speaker 1: rental stores, title lenders, liquor stores, pawn shops, et cetera,
• 42:32
  Speaker 1: et cetera, et cetera, and you go fifteen minutes apart.
• 42:34
  Speaker 1: Is Nirvana completely different. Let's talk about rural America. Now, Okay,
• 42:42
  Speaker 1: rural communities are not fifteen minutes apart, because we the
• 42:45
  Speaker 1: rural communities, so they might be different counties. Right, well,
• 42:48
  Speaker 1: let me just sort of make sure. I'm just want
• 42:49
  Speaker 1: to make sure everybody understands he's exactly the same. And again,
• 42:52
  Speaker 1: call me on this. I've been to any communities I'm
• 42:54
  Speaker 1: telling you other than a couple of I mentioned Saint Louis,
• 42:57
  Speaker 1: and it's a place where when I've been there, I've said,
• 43:00
  Speaker 1: I've said it. Well, I've been, of course, been to Baltimore,
• 43:01
  Speaker 1: but most these areas, but I can tell you exactly
• 43:05
  Speaker 1: what they look like just by virtue of the credit score.
• 43:08
  Speaker 1: I've told you what a fire and credit cord community
• 43:10
  Speaker 1: looks like. I've told you what a seven credit score
• 43:12
  Speaker 1: community looks like. If you see something different in these communities,
• 43:15
  Speaker 1: you send me a note and you tell me, and
• 43:17
  Speaker 1: I'll apologize publicly. I just don't think it's going to happen.
• 43:21
  Speaker 1: Rural communities five hundred versus seven hundred. Clay County, Kentucky,
• 43:25
  Speaker 1: five hundred credit score, Madison County, Kentucky, seventor credit score.
• 43:32
  Speaker 1: Clay County is located in the Appalachian region. By the way,
• 43:35
  Speaker 1: Clay County faces economic challenges with limited access to financial
• 43:38
  Speaker 1: services and higher rates of poverty. You've heard, You've heard
• 43:42
  Speaker 1: of the appalations. Madison County home to Eastern Kentucky University.
• 43:47
  Speaker 1: Madison County benefits from educational institutions and more diversified economic activities,
• 43:52
  Speaker 1: contributing the higher average credit scores and higher economic vitality. Okay,
• 43:57
  Speaker 1: number two, I'm gonna do these. We're gonna run through
• 43:58
  Speaker 1: these so I can, because I guess more some want
• 44:00
  Speaker 1: to cover for you. McDowell County, West Virginia, five hundred
• 44:04
  Speaker 1: credit score Monongallia County. Sorry for butchering that Monongalyia County,
• 44:09
  Speaker 1: West Virginia seven a credit score. I don't have time
• 44:12
  Speaker 1: to get into the sub details on this. You can
• 44:14
  Speaker 1: look it up for yourself. You'll find that this is that,
• 44:18
  Speaker 1: this is. There's a reason for these contrasts. Number three
• 44:21
  Speaker 1: Wilcox County, Alabama, five hundred credit score, Shelby County, Alabama,
• 44:25
  Speaker 1: seven hundred credit score. Uh Shakey County, Mississippi five hundred,
• 44:31
  Speaker 1: Madison County, Mississippi seven hundred, Apache County, Arizona five hundred.
• 44:37
  Speaker 1: I'm pretty sure that's I'm pretty sure that's a Native
• 44:39
  Speaker 1: Native American community. Coocneino Ca, Coneino County top laughing coc
• 44:51
  Speaker 1: O n I n oh, you say it? Okay, cocone
• 44:55
  Speaker 1: Oh County, Arizona seven hundred, Delta County, Colorado five hundred,
• 45:01
  Speaker 1: Larimer County, Colorado seven hundred. See, you're starting to get
• 45:05
  Speaker 1: the gist here Like this. I mean, I just again,
• 45:07
  Speaker 1: I like data. I like math because it doesn't have
• 45:10
  Speaker 1: an opinion. There's an outlier here in my data. It's
• 45:24
  Speaker 1: West Virginia, the same state that my wife's from. Shane
• 45:27
  Speaker 1: O'Bryant and my brother from another mother, Bishop td Jakes,
• 45:31
  Speaker 1: the Black Pope. By the way, Paupe Francis got rested
• 45:35
  Speaker 1: soul I just wrote a piece in time when you
• 45:37
  Speaker 1: should read it. On his passing, he reminded me many
• 45:40
  Speaker 1: ways of Doctor King. But the guy I often will
• 45:45
  Speaker 1: joke as the Black Pope is Bishop td Jakes. They're
• 45:48
  Speaker 1: both my wife and bishop are from Charleston, West Virginia. Okay,
• 45:53
  Speaker 1: So why is the best West Virginia an outlier? It
• 45:55
  Speaker 1: actually has a pretty high credit score. The average credit
• 45:58
  Speaker 1: card is seven hundred. The problem is that there's no
• 46:01
  Speaker 1: economic activity around it, at least not enough. West Virginia
• 46:05
  Speaker 1: has long relied on coal hello and extractive industries, old
• 46:10
  Speaker 1: businesses that are tired, worn out and need to be
• 46:15
  Speaker 1: you know, transitioned over time, versus holding on for dear
• 46:19
  Speaker 1: life into the last gasp of the industry peeps out,
• 46:25
  Speaker 1: as we did with many industries industrial Revolution that were
• 46:28
  Speaker 1: sent offshore because it was cheaper and more efficient to
• 46:30
  Speaker 1: do it, and because we wanted to have cleaner industry,
• 46:33
  Speaker 1: cleaner energy, and well we just moved to an information
• 46:36
  Speaker 1: and technology economy. Anyway, West Virginia is still stuck, stuck, sorry,
• 46:40
  Speaker 1: West RIGI is still dependent upon a coal and attractive
• 46:44
  Speaker 1: industries which have declined dramatically over time. There's been limited
• 46:48
  Speaker 1: reinvestment in modern industries like tech, green energy or advanced manufacturing,
• 46:52
  Speaker 1: which they have the capacity to do. One of my
• 46:55
  Speaker 1: board members is a good friend of mine, Brad Smith.
• 46:57
  Speaker 1: It runs a major university there. He's a million dollar
• 46:59
  Speaker 1: donut our to hop. He's I think the wealthiest man
• 47:01
  Speaker 1: in one of them in West Virginia is completely committed.
• 47:05
  Speaker 1: He was chairman of Into It. Brilliant businessman, really cares.
• 47:08
  Speaker 1: He's completely committed to raising all vats in West Virginia,
• 47:11
  Speaker 1: and I want to partner with him in that regard.
• 47:15
  Speaker 1: Really role model of an individual. Unlike states with booming
• 47:19
  Speaker 1: metros like Georgia with Atlanta, West Virginia lacks large economic engines. Okay,
• 47:27
  Speaker 1: two is a brain drain and a population loss. Many
• 47:30
  Speaker 1: young educated people leave the state for better opportunities elsewhere.
• 47:33
  Speaker 1: The population is aging and net migration is negative, people
• 47:38
  Speaker 1: coming into the state, shrinking the talent pool in the
• 47:41
  Speaker 1: tax space. This is why you want diversity. This is
• 47:43
  Speaker 1: why you want immigrants, legal immigrants. Yes, this is why
• 47:46
  Speaker 1: you want people excited about where you live, and you
• 47:49
  Speaker 1: want the place to be a beacon of hope and opportunity,
• 47:52
  Speaker 1: and you want people want to be inviting. Otherwise the
• 47:54
  Speaker 1: economy is going to die. Infrastructure and connective gaps. Rural
• 47:58
  Speaker 1: communities have limited ban uh transportation and access to capital.
• 48:03
  Speaker 1: These limitations restrict entrepreneurship and remote work, even if individuals
• 48:07
  Speaker 1: are financially responsible with a Seveator credit scordings example, under
• 48:11
  Speaker 1: leverage credit. A Severator credit score in West Virginia often
• 48:16
  Speaker 1: comes with very conservative credit use, low debt, which generally
• 48:19
  Speaker 1: is good, but also limited reinvestment in small businesses, home upgrades,
• 48:24
  Speaker 1: or higher education. So they have no debt, but they've
• 48:27
  Speaker 1: got no you know, no bling. You what to call
• 48:30
  Speaker 1: it that? No business bling or you know h no.
• 48:34
  Speaker 1: I'm not saying to get up as go get them
• 48:36
  Speaker 1: and goes got up and went. But again relying on
• 48:39
  Speaker 1: old industries. People aren't financially over extended. They're just not
• 48:42
  Speaker 1: building wealth aggressively either. We've got to change that. Poor
• 48:46
  Speaker 1: health outcomes all that is connected. West Virginia ranks low
• 48:49
  Speaker 1: and public health metrics obesity, substance, substance use, life expectancy,
• 48:55
  Speaker 1: all of which limit workforce productivity and increase public the
• 48:59
  Speaker 1: public call for the state education gaps. The state underperforms
• 49:04
  Speaker 1: in K through twelve and higher education attainment. Without a
• 49:08
  Speaker 1: highly educated workforce, it's hard to attract employers or innovate
• 49:13
  Speaker 1: them from within. So the bottom line with West Virginia
• 49:17
  Speaker 1: is that while they may manage their credit wisely, they're
• 49:20
  Speaker 1: living in an economy that hasn't been retooled for the
• 49:24
  Speaker 1: twenty first century. Improving credit scores is foundational, but economic
• 49:30
  Speaker 1: revival also requires investment in education, infrastructure, industry, entrepreneurship, and
• 49:36
  Speaker 1: an optimistic perspective for the future. And now I'm talking
• 49:39
  Speaker 1: about you, not a state. Think about what I just said,
• 49:42
  Speaker 1: but apply it to you. I want you to have
• 49:45
  Speaker 1: a good credit score, so no one will deny you.
• 49:48
  Speaker 1: Take your credit score. You work with the operational, You
• 49:50
  Speaker 1: get your credit score up, and you go to the computer.
• 49:53
  Speaker 1: You don't trust me, he's all job's messing around. It
• 49:55
  Speaker 1: still racism. It's just everywhere. And I don't care with
• 49:59
  Speaker 1: John saying I know it's racism. Okay, then work with
• 50:03
  Speaker 1: the operation to hope, get your credit score up, your
• 50:05
  Speaker 1: debt down, your savings up. Just get your credit score
• 50:07
  Speaker 1: up and you have a job. Right'll be a paper
• 50:09
  Speaker 1: bills and go to the computer at midnight, go to
• 50:12
  Speaker 1: one of the big banks. Right that you swear, you
• 50:15
  Speaker 1: swear these folks are races. Right, you been reading all
• 50:18
  Speaker 1: the newspapers. Go to the big bank at midnight. Nobody's
• 50:21
  Speaker 1: even around, know what computer, don't know what color you are,
• 50:25
  Speaker 1: They don't know what what race you are, what gender
• 50:27
  Speaker 1: you are, and the application is not asking you for that.
• 50:30
  Speaker 1: You type in your information, and you type in your
• 50:32
  Speaker 1: credit score is above seven hundred, and you have a job,
• 50:35
  Speaker 1: and you're trying to get fifty twenty thousand, one hundred
• 50:38
  Speaker 1: thousand dollars worth of credit line or home ownership. Let's
• 50:41
  Speaker 1: do home ownership really simple? Or a small a credit
• 50:43
  Speaker 1: card or something you know one hundred thousand dollars or less.
• 50:46
  Speaker 1: Watch that, watch you get the approval? Right, you send
• 50:50
  Speaker 1: me a note. You send me a note. You have
• 50:51
  Speaker 1: a good job, you know, decent employment. You know you're
• 50:55
  Speaker 1: not you know ten thousand dollars, you know annual income
• 50:57
  Speaker 1: trying to get one hundred thousand loans or do them stupid?
• 50:59
  Speaker 1: You go? You know you got a middle class situation
• 51:02
  Speaker 1: with a decent credit score. You go to that computer
• 51:05
  Speaker 1: and you ask for a loan, for prime loan, for
• 51:09
  Speaker 1: all the loan, or for to get up your first
• 51:12
  Speaker 1: home ownership loan or whatever. Right and watch it and
• 51:15
  Speaker 1: watch what computer says. Computer will come back with an
• 51:17
  Speaker 1: approval or a conditional approval. The color is green. I'll
• 51:21
  Speaker 1: start in where I started. The issue at the end
• 51:25
  Speaker 1: of the day. Now, is racism real? Yes, Racism is
• 51:28
  Speaker 1: like rain. It's either falling some place or is gathering.
• 51:31
  Speaker 1: So you might as well get get out of the
• 51:33
  Speaker 1: color an umbrella and the color you like and start
• 51:35
  Speaker 1: strolling through it because it's not going to change, so
• 51:39
  Speaker 1: you must. So racism real. But you can offset this
• 51:43
  Speaker 1: situation by improving your situation. The average credit score drop
• 51:48
  Speaker 1: the mic here, please listen to me. For a black
• 51:51
  Speaker 1: America is about six twenty. So we talk about police
• 51:54
  Speaker 1: brutality and racism and politics and what's going on in Washington.
• 51:58
  Speaker 1: We're obsessed on all these things, and rightly so, right
• 52:00
  Speaker 1: civil rights, social justice, all that stuff. But that means
• 52:03
  Speaker 1: six to twenty credit score means it a half of
• 52:05
  Speaker 1: Black America is waking up every morning locked out of
• 52:08
  Speaker 1: the free enterprise system. You can't get a decent auto
• 52:11
  Speaker 1: loan at six at six twenty, you can't get a
• 52:14
  Speaker 1: home loan, a prime home loan at six twenty. You
• 52:17
  Speaker 1: can't get a small business loan that's risky credit below
• 52:21
  Speaker 1: seven hundred. So if your credit is tow up from
• 52:23
  Speaker 1: a flow up, if you think credit, like my dad
• 52:26
  Speaker 1: used to call it credit, my credit is bad, right,
• 52:29
  Speaker 1: you not get an approval, and you could think it's racism.
• 52:31
  Speaker 1: All you want your credit score is five hundred. I'm
• 52:34
  Speaker 1: not giving you a loan. No one's going to give
• 52:37
  Speaker 1: you credit. You don't pay your bills. That's what that says.
• 52:39
  Speaker 1: You're not paying your bills. This is something you can control, right,
• 52:43
  Speaker 1: and I'm giving I'm giving you some game here, like
• 52:46
  Speaker 1: I know this works because it's worked for me. And
• 52:49
  Speaker 1: by the way, I was homeless. My credit was tow up.
• 52:52
  Speaker 1: It was four hundred and five hundred, right, and I
• 52:54
  Speaker 1: cover that my book Financial Literacy for All, which, by
• 52:56
  Speaker 1: the way, the paperback is now out is now a
• 53:00
  Speaker 1: best seller on Amazon and at Walmart. Hopefully you can
• 53:03
  Speaker 1: get at a black bookstore too, but it's a bestseller now.
• 53:06
  Speaker 1: I think the paperback is a best seller at Amazon.
• 53:11
  Speaker 1: The hardcovers bestseller at Walmart. It's been a bestseller for
• 53:15
  Speaker 1: over a year. That read that book Salt with my
• 53:18
  Speaker 1: brother TI today the rapper, the businessman, rapper Britain, dude actually,
• 53:23
  Speaker 1: and he's going to read the book Financials or all
• 53:26
  Speaker 1: with his children and his family like talk, doing a
• 53:29
  Speaker 1: different chapter every week. Right, He's trying to understand this
• 53:31
  Speaker 1: capitalism situation. So, I mean, this is transformational. It's something
• 53:36
  Speaker 1: you can control in your life. It's something that you
• 53:41
  Speaker 1: can measure. I check my credit score every couple of
• 53:44
  Speaker 1: days because, oh, here's an easy one for you. I
• 53:46
  Speaker 1: can't believe it didn't say this. This is a fifty
• 53:48
  Speaker 1: three minute market. You just wants who I go to
• 53:50
  Speaker 1: like an easy one? This is what Operation Joke does.
• 53:52
  Speaker 1: I'm gonna give you some of my some of our
• 53:54
  Speaker 1: free game. The first thing we do is pull your
• 53:56
  Speaker 1: credit report. If you've not pulled your credit report in months,
• 54:01
  Speaker 1: certainly years for the question years, but if you have
• 54:03
  Speaker 1: pulled your grid score in months, you've got an error
• 54:05
  Speaker 1: on your credit report. And the law states three credit bureaus, Experience, TransUnion,
• 54:10
  Speaker 1: and Equifact. The law states these are credit repositories. By
• 54:13
  Speaker 1: the way, don't get mad at the credit bureaus. They
• 54:15
  Speaker 1: just repositories for data. There's just passive repositories for credit data,
• 54:19
  Speaker 1: and a lot of data is wrong right, somebody's giving
• 54:23
  Speaker 1: them that data inputting. By the way, use a susu.
• 54:26
  Speaker 1: Make sure if you're a landlord, make sure they're using
• 54:28
  Speaker 1: a zusu, which is a good brother. There's an African
• 54:31
  Speaker 1: founded company called Susu. I know the founder. They're a
• 54:34
  Speaker 1: billion dollar company day. They say I helped inspire them
• 54:37
  Speaker 1: to get them going. But they actually track rent payment
• 54:42
  Speaker 1: rent payments to your landlord to make sure they get
• 54:46
  Speaker 1: added to your credit bureau so you get credit for it.
• 54:48
  Speaker 1: So they make sure they report credit payments to the
• 54:50
  Speaker 1: credit bureau so you get credit for that. As you
• 54:53
  Speaker 1: try to build your credit report. Back to the story,
• 54:55
  Speaker 1: if you have not checked your credit in months, in
• 54:57
  Speaker 1: certainly years, there's an eighty to ninety percent chance it
• 55:00
  Speaker 1: is an error on your credit report. There's something known
• 55:02
  Speaker 1: there that's not yours, and you're getting deemed for it.
• 55:05
  Speaker 1: And when you say to my credit my coaches that
• 55:08
  Speaker 1: operation O, I don't know what that is. That's not me. Great,
• 55:11
  Speaker 1: we didn't write a letter with you to the credit bureaus.
• 55:14
  Speaker 1: The law states that they can't confirm this yours within
• 55:16
  Speaker 1: thirty days, they must remove it. And when they come
• 55:19
  Speaker 1: back and they can't confirm its yours, and they remove
• 55:21
  Speaker 1: and they remove it at the thirty point pop and
• 55:23
  Speaker 1: your credit score. Hello, what does it do to your
• 55:25
  Speaker 1: to your self esteem? You go from six' ten credit
• 55:29
  Speaker 1: score to six forty or five seventy to six ten
• 55:33
  Speaker 1: or six, hundred right or from six eighty to SEVENTEEN
• 55:37
  Speaker 1: i mean seventeen Maybe just imagine it raises yourself, steam
• 55:40
  Speaker 1: raised your, confidence your belief in the. System you're, like, okay,
• 55:43
  Speaker 1: okay what else can we? Do okay that you, look
• 55:46
  Speaker 1: we look at your credit, reportant what's? That oh, NO
• 55:48
  Speaker 1: i got the forst several years ago and it was
• 55:51
  Speaker 1: messy and my, mom my husband AND i had, this you,
• 55:55
  Speaker 1: know phone, bill and he didn't pay the phone bill for.
• 55:59
  Speaker 1: Months it is a thousand DOLLAR i couldn't pay. It
• 56:00
  Speaker 1: SO i went to the credit, bureaus SO at AND
• 56:03
  Speaker 1: t in this, example SO Sbc communications and it would Be,
• 56:05
  Speaker 1: Oakland california THAT i. Remember this actually. Happened they sold
• 56:09
  Speaker 1: the debt that they would sold the pack bail packed
• 56:12
  Speaker 1: bail was sold at AND. T they kept rolling your
• 56:15
  Speaker 1: debt over these new. Companies at AND t chased you
• 56:18
  Speaker 1: couldn't find. You they the phone rang hundred. Numbers you's,
• 56:21
  Speaker 1: LIKE i don't know why when the one hundred number didn't,
• 56:23
  Speaker 1: answer don't, like you know What i'm talking. About you
• 56:25
  Speaker 1: know exactly What i'm talking, about and you didn't. Answer
• 56:29
  Speaker 1: they sent that to the credit. Bureau they saw. That they, well,
• 56:32
  Speaker 1: sorry they sold that to a credit agency who buys bad.
• 56:36
  Speaker 1: Debt they bought that. Debt they won't tell. YOU i
• 56:39
  Speaker 1: know they bought that debt for pennies on the. Dollar
• 56:41
  Speaker 1: so it's a thousand dollars. Bill you don't want to
• 56:43
  Speaker 1: deal with it because it shows up as a thousand
• 56:44
  Speaker 1: dollars charge off on your credit. Report is jamming up
• 56:47
  Speaker 1: your credit. Score everything else may be, Okay well that's
• 56:49
  Speaker 1: jamming your credit. Score that's that's that's hitting, you like
• 56:52
  Speaker 1: two hundred points or. Something that charge offs that's ten
• 56:56
  Speaker 1: years old or eight years old or whatever keeps renewing
• 56:58
  Speaker 1: because the credit, bureau the credit a company that bought
• 57:02
  Speaker 1: the debt is trying to collect from. You you're, like,
• 57:04
  Speaker 1: well BUT i don't have one thousand. Dollars my credit
• 57:06
  Speaker 1: people are like, coaches, like don't worry about. That let's
• 57:08
  Speaker 1: call them because what we know is they bought it
• 57:10
  Speaker 1: for probably five cents on the. Dollar so they paid
• 57:13
  Speaker 1: fifty bucks for that for that line of. Credit right
• 57:17
  Speaker 1: is a credit line we call. It it's a line
• 57:19
  Speaker 1: on your credit. Bureau they paid fifty bucks for that
• 57:22
  Speaker 1: five sison the. Dollar what do they? Want they want
• 57:24
  Speaker 1: to double their, money so they so the other company's
• 57:27
  Speaker 1: already charged it, off they've charged they in this, example
• 57:30
  Speaker 1: they want fifty they bought it for fifty. Bucks they're
• 57:32
  Speaker 1: calling you are we call them with you in the,
• 57:34
  Speaker 1: phone and, Hey i've got Missus jones. Here you, know
• 57:36
  Speaker 1: we're looking For Missus. Jones she's looking for. You, well
• 57:39
  Speaker 1: we want our. Money how much you? Want we want
• 57:41
  Speaker 1: one hundred. Dollars we're gonna pay you two hundred. Dollars,
• 57:44
  Speaker 1: Huh why are you gonna pay me double What i'm asking?
• 57:49
  Speaker 1: For because if we pay you, double And i'm gonna
• 57:52
  Speaker 1: speak to your supervisor and tell them that you did
• 57:54
  Speaker 1: a good job for staying with us and being. Consistent
• 57:57
  Speaker 1: BUT i want you to commit to remove this from
• 57:59
  Speaker 1: her credit bureau and y'all want you to write a,
• 58:01
  Speaker 1: letter get this off our credit, report and when it
• 58:03
  Speaker 1: comes back and shows, up back up, again because it's
• 58:04
  Speaker 1: been there so long as going to, REAPPEAR i want
• 58:06
  Speaker 1: you to commit in writing to write another letter and
• 58:09
  Speaker 1: we follow up with these folks month after the month
• 58:12
  Speaker 1: to get that off your credit report and keep it. Off,
• 58:14
  Speaker 1: well your credit scord will just jump. Right so in this,
• 58:17
  Speaker 1: example we probably popped you up eighty at least eighty
• 58:20
  Speaker 1: points or more on your credit pord and then we
• 58:22
  Speaker 1: just start working on other. Stuff so this is not
• 58:24
  Speaker 1: like genius, work, Right it's just hard work and no
• 58:27
  Speaker 1: one's doing. It let me give you one last story
• 58:29
  Speaker 1: of a lady who worked in Eighteen i'm, sorry worked
• 58:33
  Speaker 1: an hourly job for thirty two. Years she made fifteen
• 58:37
  Speaker 1: to eighteen dollars an. Hour this is for the person who, Says,
• 58:39
  Speaker 1: John i'm not a, billionaire a, millionaire a thousand, Are
• 58:42
  Speaker 1: i'm just me And i'm? Working how can this work for?
• 58:45
  Speaker 1: Me this lady my mother wanted the smith won the
• 58:48
  Speaker 1: Mother john, O'Brien Mara, hoskins And DAVION. L. Harris this
• 58:55
  Speaker 1: wonderful lady who met who divorced my, Daddy johnny Will,
• 58:57
  Speaker 1: smith and went out with nothing and kept IN. La
• 59:00
  Speaker 1: she could have could have taken my dad for a.
• 59:02
  Speaker 1: Cleaning she could have Gotten California's community property. State we
• 59:06
  Speaker 1: owned a gas, station ad, unit apartment, building a nursery,
• 59:09
  Speaker 1: building her own. Homes you, know she could have cleaned them.
• 59:11
  Speaker 1: Out and she just, said, No i'm going on my.
• 59:14
  Speaker 1: OWN i don't want is ALL i want is you
• 59:15
  Speaker 1: to leave me. Alone let me go live my life
• 59:17
  Speaker 1: with my. Kids and my dad who had a. Business
• 59:20
  Speaker 1: it was a business owner and had all these. Assets
• 59:24
  Speaker 1: because he was financially illiterate and he didn't realize he
• 59:27
  Speaker 1: needed my. Mother he lost all of those. ASSETS i
• 59:29
  Speaker 1: ended up taking care of. Him his criscore was in the.
• 59:31
  Speaker 1: Toilet my mother went to go work in an hourly
• 59:34
  Speaker 1: job and it was called McDonald Dollar's, aircraft boiling aircraft
• 59:38
  Speaker 1: it became. Later for thirty two, years she did some
• 59:41
  Speaker 1: part time. Stuff she had a little candy thing on the,
• 59:43
  Speaker 1: side she, said little handicraft business she had on the.
• 59:47
  Speaker 1: Side you, KNOW i had a candy business with you
• 59:49
  Speaker 1: thinking WHERE i got it. From and she'd sell stuff
• 59:51
  Speaker 1: to her co workers at McDonald Dollar's aircraft Became Bowling
• 59:54
  Speaker 1: aircraft later, on and he made a long story. Short
• 59:57
  Speaker 1: she died with a million dollar networth right bought and
• 1:00:00
  Speaker 1: sold seven, houses had a credit score of eight fifty.
• 1:00:02
  Speaker 1: Four some smart bubb was, like credit cards don't go
• 1:00:05
  Speaker 1: to eight fifty, Four, John, yeah they did back. Then,
• 1:00:08
  Speaker 1: Smart we're in it's an eight fifty maximum. Now but
• 1:00:11
  Speaker 1: my mother was bawling back. Then by the, way her
• 1:00:13
  Speaker 1: creditscrre actually went down to the seven hundreds later on
• 1:00:17
  Speaker 1: because she wasn't using credit when she retired AND i
• 1:00:20
  Speaker 1: was taking care of her here In. Atlanta so her
• 1:00:24
  Speaker 1: credit card is still about seven, hundred but it wasn't
• 1:00:25
  Speaker 1: eight to fifty anymore because she wasn't obtaining. Credit but
• 1:00:29
  Speaker 1: your credit correse is eight fifty four at some. Point my,
• 1:00:31
  Speaker 1: MOTHER i, mean my mother wasn't, black she was. GREEN i, Mean,
• 1:00:34
  Speaker 1: mom you're gonna get married? Again, maybe? Baby what does that? Mean,
• 1:00:37
  Speaker 1: well IF i get, married he's gonna be A. Bmw,
• 1:00:39
  Speaker 1: mom don't be. Vain what does that mean a black man.
• 1:00:43
  Speaker 1: Working my mother wasn't, playing and you shouldn't play. Either
• 1:00:47
  Speaker 1: this is. Possible you can change your, life AND i
• 1:00:52
  Speaker 1: expect you. To let's go get. It this is the
• 1:00:55
  Speaker 1: silver rights, movement from civil rights in the streets the
• 1:00:59
  Speaker 1: silver rights in the business. Suites we've got red rooms
• 1:01:03
  Speaker 1: that we've created to fight, discrimination, racism and we had
• 1:01:06
  Speaker 1: red rooms all OVER us as country civil rights social justice.
• 1:01:09
  Speaker 1: Organizations we need green. Rooms we Need Operation. Hope we
• 1:01:12
  Speaker 1: need not fifteen hundred, locations we need fifteen thousand. Locations
• 1:01:14
  Speaker 1: it could be some of you should become The starbucks
• 1:01:16
  Speaker 1: of financial, literacy sorry financial, inclusion and The walmart of financial.
• 1:01:21
  Speaker 1: Literacy we should be everywhere helping you to plug into this.
• 1:01:25
  Speaker 1: System is economic, piping this economic. Infrastructure that's What i'm
• 1:01:29
  Speaker 1: committed to, doing economic plumbing for Underserved. America whether you're, poor, white,
• 1:01:33
  Speaker 1: rural or you're black and brown, urban you deserve to
• 1:01:36
  Speaker 1: have a shot at this economic thing called The American.
• 1:01:39
  Speaker 1: Dream john, O'Brien this Is money And, Wealth peace In.
• 1:01:43
  Speaker 1: Life money And wealth With john O'Brien is a production
• 1:01:59
  Speaker 1: of The black Of effect Podcast. Network for more podcasts
• 1:02:02
  Speaker 1: from The Black effect Podcast, network visit The iHeartRadio, App Apple,
• 1:02:06
  Speaker 1: podcasts or wherever you listen to your favorite.
• 1:02:09
  Speaker 3: Shows the cont