Participants: Cordell Thomas
Series Code: TITTB
Program Code: TITTB000019
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00:01 On Take it to the Bank,
00:02 you'll find ways to get out of debt, 00:09 solve your credit card problems, 00:14 how to make and stick with the budget, 00:19 simple ways to save, 00:24 buying or selling a home, 00:26 and many more financial matters on Take it to the Bank. 00:32 Hi, my name is Cordell Thomas 00:34 and I'm so glad you're here today. 00:36 We're talking about a variety of things 00:38 that I think will interest you. 00:40 One of the things that we're talking about 00:42 are the top 10 financial difficulties, 00:47 top reasons for financial difficulties 00:49 that we all come across. 00:50 And today we're gonna look at one specific item, 00:54 which is living beyond your means. 00:58 One of the key things 01:00 that most people don't think about is, 01:04 one of the major ways we think about money. 01:09 How do you think about money? 01:11 I was interested today over the past couple of weeks, 01:14 I think it was on February 28 that I found this article. 01:17 What happy people know about money? 01:20 What happy people know about money? 01:22 And if you read the article, 01:23 which I can actually provide for you, 01:25 if you'd like to get the information is, 01:27 they don't look at it in the same way 01:30 most other people do. 01:32 Money is not the important facet of life. 01:34 It's the happiness that the money 01:37 or the financial situation that those people in, 01:43 the security they probably have with their finances 01:45 that gives them, 01:47 the happiness of that gives them. 01:48 So they spend their money, 01:49 they allocate their money for correct expenditures 01:51 that they have, 01:52 but they don't worry about the money 01:54 and where it comes from. 01:55 Many of these individuals are not wealthy. 01:57 They indicate specifically in the article 01:59 that these are not wealthy individuals. 02:01 If they need more money, they can go out and make it 02:02 if they need it. 02:04 But they're living well within their means 02:05 and they are happy, and they travel, 02:08 and they do what they need to do with their money 02:11 to make their happiness 02:12 exhibit itself in how they live, 02:14 what they do, their philanthropy, 02:16 a very interesting read, which takes me to a verse 02:20 that we should all get very accustom to, 02:23 it's in Luke 12:15 02:25 and it says, "Hey, take care and guard against greed. 02:31 Life does not consist 02:34 in the abundance of one's possessions." 02:37 It doesn't really make a difference 02:40 how much you have, 02:41 God doesn't look at that, He looks at your countenance, 02:44 and looks so much how you are using the talents 02:47 that He's given to you to use. 02:49 And that may be in your support of philanthropy, 02:53 the support of nonprofits such as 3ABN, 02:55 and many other organizations 02:57 that are providing a service to our communities. 02:59 What we do is provide financial literacy training 03:03 to our youth, 03:04 we provide it to adults, 03:05 and we try to provide them information, 03:09 useful information that they can benefit from 03:12 and utilize in an ongoing basis. 03:16 What do happy people know about money 03:22 that we may not, that you may not? 03:25 And I think it's something 03:26 that we need to begin the process of discussing 03:29 as we dialogue about this issue called money. 03:32 There was another article that came out 03:34 that I'll remind you of too 03:35 is send it I think around the same time 03:40 that wealthy people are more likely to cheat. 03:47 I guess what does that mean? 03:48 I mean, just from a negotiation they may mislead the truth. 03:51 They might take candy from a child. 03:53 I mean, these are little things 03:54 that they talked about in the article. 03:56 So wealth does not make you 03:58 the greatest person in the world. 04:00 Wealth takes a certain level of integrity 04:04 and it takes planning to get to that point. 04:07 But do you have to be wealthy to be happy? 04:09 Well, based on the previous article 04:11 wealth is not happiness. 04:14 Happiness is not focused on money. 04:17 Happiness is focusing on using the time 04:19 you have to utilize the funds 04:22 that are available to do things, 04:24 to go places, 04:26 to enjoy the life that you've been given 04:28 and to give back by sharing with others 04:31 the wonderful benefit that you have in Christ. 04:34 And another benefit that people don't think about 04:37 is when you're not worried about money then you relax 04:41 and then stress does not become an issue, 04:43 which is what we are talking about. 04:46 What is the biggest stress in life today? 04:49 There are about 66 stressors 04:52 that are exhibited from external factors in life, 04:55 what are they? 04:56 Well, I'm not gonna give you the full 66, 04:58 but the top three have everything to do with money. 05:01 Number one is finances, 05:04 the number one stressor in life is finances 05:08 that's key to understand. 05:09 The number two is work environment, 05:12 people are stressing out right and left 05:14 about their work environment 05:15 and they don't know how to deal with it. 05:16 People are having problems with being, 05:20 they're focusing on getting the next promotion, 05:23 they're willing to climb over everyone to get that promotion, 05:26 they're willing to lie, steal, and cheat 05:31 to get to that next level in their work environment, 05:35 they're willing to do whatever it takes, 05:36 and it creates a lot of stress. 05:38 Other things that are associated with work 05:40 is transportation costs 05:42 that are now going over $4.50 in California. 05:46 People are traveling long distance in California, 05:48 it's costing them more to get to work, 05:50 they have to get to work to pay for those costs, 05:53 and so now they're focused on the money 05:54 to help take care of the expenses. 05:56 Remember happiest people in life 05:59 are not focused on money, they're not. 06:02 The happiest people are know, 06:05 what they know about money 06:06 and how to use money is key to understanding 06:09 what you can do. 06:10 So that is number two is the work environment 06:12 and a lot of things associated with the work environment 06:15 include transportation, you know, 06:17 getting in the car making sure you're insured, 06:19 making sure you get there safely, 06:21 the stress about getting to work 06:22 and getting home at night, 06:23 and those long commutes 06:25 that people have in the California areas 06:26 as I'm aware of. 06:28 And then, of course, the third one 06:30 is personal relationships. 06:33 If you don't communicate in your relationship, 06:34 if you have financial difficulties in relationship, 06:36 what is the top cause for divorce? 06:41 Finance. 06:43 Finance is the top cause 06:44 and you can see it getting involved 06:48 in every different facet of our lives. 06:50 The top three issues, 06:51 the top three things that cause stress 06:53 are finance, work environment, 06:56 as well as personal relationships. 06:58 And if we can figure out a way to get around all of that 07:01 we'll understand our capacity 07:04 to be in control of our lives and understand 07:08 how we can be at peace 07:09 and enjoy that life that we're giving all the more. 07:14 Now what we're talking about number one, 07:17 will be living beyond your means 07:19 and this will talk through several different elements 07:23 to include, the ease of access 07:26 that we have to consumer credit, 07:27 it will talk about advertising 07:30 that is hitting us from all of the perspectives. 07:32 We'll talk about the lack of financial education 07:34 that most people don't have, 07:36 and distinguishing between your needs versus your wants. 07:41 This is a very, very important topic to talk about 07:47 because many people don't want to address it, 07:50 people don't want to talk about it, 07:52 and people feel uncomfortable dealing with it. 07:55 But we will talk about it 07:56 and I ask you to engage with me. 07:59 At the end of the program, 08:01 we will have information 08:03 that we'll provide you with email address, 08:05 as well as website that you can go to, 08:07 if you want to provide feedback or ask questions. 08:11 Write those questions down as I go through the program 08:14 and send them to me 08:15 because we're always interested to find out 08:17 what your thoughts are, what your concerns are, 08:20 and how we can be of benefit to you in future programs? 08:23 Okay, so we've gotten that out of the way, 08:26 so let's begin the process 08:28 of talking about this issue called, 08:32 the first of the top 10 reasons 08:34 why we have financial difficulties. 08:36 This first one is living beyond your means, 08:41 living beyond your means. 08:44 There are lots of things I can tell you 08:46 about living beyond your means, 08:48 but one of the things that I think are critical 08:51 to understanding about what it means to live 08:53 beyond the means is the fact that people overspend. 08:55 It's a simple word overspending. 08:58 We spend more than we have. 09:00 And that has a lot to do with you 09:02 as a single individual, 09:04 you as married couples, 09:06 you as an individual that's going towards retirement, 09:09 you as an individual that have medical costs. 09:12 Now in many different aspects of our lives 09:16 we think about those emergencies 09:18 that could come up and make them self available, 09:20 what could those emergencies be? 09:22 Well, we know we're talking about transportation issues, 09:24 we talked about that, those are critical 09:26 because we have cost of living that is going out of the roof. 09:30 We can't, if we're not budgeting 09:32 and understanding where we're at, 09:34 we are setting ourselves up to be in those 09:37 in the capacity of overspending, 09:39 and spending money we're not supposed to. 09:42 What other things can cause an emergency? 09:45 While a breakdown of a car, a medical emergency, 09:49 get in a car accident, 09:51 and all of these things cause stress 09:52 in the work environment, 09:54 and at home you also have those specific concerns 09:57 when you're looking at a broken water heater, 09:59 and we need the extra funds to pay for those things, 10:02 but yet we haven't just taken a step back 10:04 and look at what we do with our funds, 10:08 what we do with our money, 10:10 how we track our money, and understanding 10:13 how we evaluate where our money comes from 10:16 and where it goes. 10:17 If we have an understanding of where those things are 10:20 and how these things impact our lives, 10:22 then we won't know 10:24 where we're going on the road map of life. 10:26 So if we're planning to save $5,000 this next year, 10:30 we need to sit down and plan that roadmap to $5,000. 10:34 And I ask you all to sit down, 10:36 sit down today 10:38 and begin the process of assessing your debt, 10:40 where are you right now? 10:42 And then, of course, creating that budget. 10:45 What is a budget? 10:47 A budget is simply your income subtracting your expenses 10:53 and then you have a number, that's your budget. 10:56 Basically your income minus your expenses 10:59 that gives you an idea of where you're at, 11:01 it starts the process of developing 11:03 a number of where you wanna to be, 11:05 your roadmap, where you wanna go. 11:08 If you are in a negative situation, 11:11 where your income is less than your expenses, 11:15 then you have a concern and you need to start 11:17 looking at how you can take out those elements of your expenses 11:21 that can help you bring you back in line. 11:24 For example, do you really need to have cable TV? 11:28 Do you need to have satellite TV? 11:31 Can you cut that expense 11:32 and use something a little less expensive? 11:34 Do you need to spend $135 a month on your cell phone? 11:38 Could you get rid of a landline 11:39 and just go with your cell phone? 11:40 Can you cut expenses in specific areas 11:43 that will generate a little bit more income 11:46 or the stability that you're not spending 11:49 as much money on a monthly basis? 11:52 So a budget is critical, 11:54 assessing your debt is critical, 11:56 knowing where you're at is critical, 11:59 and that means you need to have that type of budget. 12:02 Now when you get experienced in doing a budget 12:05 and you get experienced in figuring out 12:07 where you're at and tracking your expenses 12:09 and getting your road map in place 12:11 to saving $5,000 or $10,000 a year 12:14 then you begin to understand why people 12:17 who are not focused on money are happy people. 12:21 They're not worried about the money, 12:22 they're not worried about what they do with the money, 12:25 they enjoy the benefits, and the blessings 12:28 that God gives them. 12:30 They're not necessarily wealthy. 12:32 They just utilize their money 12:35 and make sure they're not spending 12:36 more than they have to spend. 12:38 I know of people. 12:39 I've run into people for example, an older lady, 12:43 more mature lady who lives out in the Midwest 12:46 has said that in her ability to support 12:49 a nonprofit organization, 12:51 she does something that we don't even think of doing 12:54 during the winter time. 12:55 But she shuts down different portion of her home 12:58 and to save that expense on the gas bill 13:01 to heat those portions that she doesn't necessarily use, 13:04 and she uses that savings to maintain her support 13:08 of a nonprofit organization. 13:11 It takes that creative mindset to say, 13:13 "I may not make that much but what I do make," 13:19 The Widow's Mite is a story that comes from the Bible, 13:21 "but what I do make, 13:22 I'll make it useful to the use of Christ's Work." 13:27 So daring is the first step. 13:29 Take a look at where you're at and make sure 13:32 that you're in line with your roadmap 13:34 and your budget 13:36 because your budget will be different 13:37 than everyone else's. 13:39 But it takes you taking the time 13:41 and looking at where you're at and where you wanna go. 13:45 There are many things we're gonna talk about today, 13:47 but I'd like to make you aware of a couple things 13:50 before we moved forward. 13:53 The number one thing is, I got this in the mail, 13:57 major cause of heart attacks, Christmas, avoid Christmas. 14:01 "Oh, we can't do that Christmas comes every year." 14:04 But the statistic is this, 14:07 more Americans die from cardiac arrest 14:10 on Christmas Day than on any other day of the year. 14:14 Doctors have long speculated 14:16 on the cause for this holiday heart syndrome, 14:20 guess why this occurs? 14:23 They blame it from cold weather to financial issues, 14:29 family stress. 14:31 What are the top two reasons for financial stress 14:34 or for stress in general? 14:36 Finances, work, and family. 14:40 That's it. 14:41 This is what the cause. 14:42 And then, of course, on Christmas Day, 14:44 Christmas Day the best day of the year 14:48 people are dying 14:49 because they're stressed out of about 14:50 how I'm gonna repay that debt? 14:52 How I'm gonna take care of all of these things 14:54 that I'm trying to make everyone happy with? 14:56 And we end up making people sad 14:58 because this is a crisis 15:00 that most people don't think about. 15:03 Avoid heart attacks. 15:05 Simply by planning, planning is the key. 15:10 And so we take a look at distinguishing 15:13 between your needs versus your wants. 15:15 What is a need? 15:18 What is a want? 15:20 This is a simple kind of question 15:21 but it can go into many different directions 15:23 because many of us think that we need certain items. 15:26 I remember, I was saying to my wife way back 15:29 when we were first married, "I need this." 15:32 And she, you know, of course, with her psychology 15:34 she is saying things like, "Do you really need it, honey? 15:36 Is it something that it's that important to have it? 15:39 And is it really a need 15:40 because do we need it to survive? 15:42 Think about that." 15:43 Is it something that you need to survive? 15:45 The things that you need to survive are shelter, 15:49 food, clothing. 15:51 Shelter, food, and clothing. 15:54 That's it. 15:55 That's really it. Everything else is a want. 15:58 And we can pretty much think that a car is a need 16:00 because you need it to transport yourself 16:02 to do work, the necessary work. 16:04 Yeah, we can begin to talk about 16:06 those other elements of needs, 16:07 but when we look at a need versus a want, 16:10 take a look at it if it's something 16:12 that we need to put on the table, 16:13 keep our roof over our heads, 16:15 and making sure that we are in a safe environment. 16:19 That's what we do for our kids and for the family. 16:21 So we make sure the mortgage is paid, 16:24 we make sure that we have the clothing in place, 16:27 and you don't necessarily have to go out and buy new clothing. 16:30 One thing I really liked about my generation 16:32 is we went through that phase called the grunge look. 16:34 You know, Gen Xer was the type that we had, 16:36 we didn't really care about how we looked, 16:38 you dress in jeans, 16:39 and you dress in T-shirts, 16:41 and you went did which you had to do. 16:43 The millennials are somewhat of the same. 16:45 It's not about the look, it's really about who you are, 16:48 and what you're trying to accomplish. 16:49 You're not really focused on the clothing, 16:52 but the clothing is kind of important also, 16:54 so you make sure you maintain the needs associated with that. 16:59 Now when you go and buy clothing ask yourself, 17:02 to ask yourself three questions. 17:04 Is this something I need? 17:07 Is it necessary? 17:08 Or is it something you want? 17:11 Do I need the clothes? 17:12 Or do I already have five pair of jeans 17:14 at home in my closet 17:15 so I don't really need it but it's something I want 17:17 because it's a trend, people are buying, 17:19 and I see all the friends with it. 17:20 You know, our kids come back 17:22 and talk about that all the time, 17:23 which is the next year I wanna go in is advertising. 17:26 But the key is this, 17:28 is it something I really need or is it something I want? 17:32 Ask yourself that first question. 17:34 Now if it's a want, can you afford to pay for it right now? 17:38 Goes to another issue of credit, immediacy, 17:41 gratification I can go on 17:42 and put it down on the credit card 17:44 and then I'll pay the minimum payments 17:45 over the next few months and pay it off. 17:48 Don't get into that habit, get away from that habit. 17:50 We should all have a kumbaya moment together 17:54 where we come together with all of our credit cards 17:58 and then we cut them up. 17:59 That would be a wonderful experience 18:01 and if you're interested in doing that, 18:02 we can all do it together. 18:04 But the issue is to get away 18:06 from that thought process of I can put it on a credit card 18:10 because I'm ending up 18:11 continuing the process of paying a company money 18:16 that I don't necessarily have to, 18:18 if I'm prepared to pay for it now. 18:22 Have I saved for it? 18:23 Have I planned for it? 18:24 Was it part of my budget? 18:26 Have I assessed this? 18:27 Have I talked to my spouse about it? 18:29 Is this something we're prepared to go and get 18:31 at this point in time? 18:33 And the third question is if you can't afford it now, 18:37 will you be able to save money to purchase it in the future? 18:41 I always love that is, all right, 18:43 we don't have the money now 18:45 so we can prepare to buy it in the future and guess what? 18:48 When we do that and we walk out of the store 18:50 without purchasing it that day 18:51 because it wasn't a part of our plan 18:54 it goes away. 18:55 The need to buy goes away. 18:58 I don't even think about it anymore because remember, 19:01 I had those five pair, 19:02 extra pair of jeans in the closet 19:04 that I can always go back to and wear 19:05 if I really need something at that point in time. 19:07 So it turns out that it really wasn't a need, it was a want, 19:11 and the want that I came up with wasn't that urgent 19:14 at that point in time. 19:15 Okay. 19:16 So we're talking about these simple issues 19:19 but they're complex 19:20 because you're dealing with, if you're married, 19:22 with a spouse, if you have kids, 19:24 you're dealing with the kids, and the kids, 19:26 oh, my goodness think about this. 19:29 Advertising is one of the things 19:31 that we were talking about in reference 19:33 to living within your means. 19:36 From the moment your child is born, 19:39 advertising agencies are going after him. 19:41 I believe it was Reagan in the early 80s 19:46 that deregulated the advertising industry. 19:49 So now they could go after your kids 19:51 in so many different ways and it is very deep. 19:54 Watch what your kids are watching 19:56 on the television screen 19:57 because it's all about advertising to them 20:02 and getting them to get into the habit 20:04 of becoming consumers, 20:06 becoming a consumer and that is a critical issue. 20:10 We have to protect them against the advertisers 20:13 because we are bombarded on a daily basis, 20:15 you can't avoid advertising, 20:17 if you don't even have a TV, you can walk out the front door 20:21 and you'll see a billboard, you can drive different places 20:24 and you see all of these different ads 20:27 that are available to get you to buy something. 20:30 If you go into a store, 20:31 they have new forms of advertising 20:34 that try to get you to buy certain things. 20:37 I ask you to go to a store 20:39 and when you look at buying something, 20:40 look up above, and below that product 20:44 because what they do strategically 20:46 is put the product that they want to sell 20:49 or the manufacturer 20:51 who pays the most for the ad space. 20:54 So you can probably find something cheaper, 20:56 if you look above or below that specific product. 21:00 Advertising is there to change your mindset 21:03 of how and why you purchase for your kids. 21:07 The other thing is that kids are coming to you every day. 21:10 I have a child that will not stop asking, 21:13 "But, Daddy, I want it. 21:14 But, Daddy, Daddy, can I have it? 21:16 Can I have it, Daddy?" 21:17 It gets to the point 21:18 where they're teaching your children to ask 21:22 because when you ask repeated amount of times 21:25 you break down that wall of resistance 21:28 that the parent has. 21:29 And finally, out of exasperation, 21:32 "All right, let me give it to you." 21:33 But let's get it. 21:36 And then you get away from your whole context of, 21:40 is this something we planned for? 21:42 Or is it something that we actually need? 21:44 So now you're teaching your kids 21:47 to behave in a way 21:49 that you're trying to get away from. 21:51 So it becomes a very difficult process 21:55 of maintaining that focus on a budget, 22:00 that focus on a budget. 22:01 So when we talk about incorporating the whole family 22:05 in this budgetary process that is essential 22:08 and there's no age limitation. 22:10 My son is seven, my daughter is five, 22:12 we sit and say we're going to the store today 22:17 and we're planning to purchase this item. 22:21 We've budgeted for this 22:22 so that's what we're going to do. 22:25 Now have you any money saved up? 22:28 What are you planning to ask when we go to the store? 22:30 Or we just say there's nothing else over there, 22:33 we're going to the store for the journey, 22:35 and the experience, 22:37 and make it exciting for the kids. 22:38 But we try to make sure 22:39 that unless they've saved for something 22:41 and it's a part of the budget 22:42 and we try to stay away from these purchases 22:45 that are not necessary. 22:47 Again it goes to those questions. 22:49 Do I need this? 22:51 Is this something that I really need? 22:52 Or is it something that I want? 22:54 Ask the child the same question. 22:56 Two, if it's a want can I afford to get it today? 22:59 Do you have the funds to buy this item today? 23:02 Ask the child the question because they know, 23:05 they begin to understand the context 23:06 of this consumer driven society. 23:10 And then, of course, if I can't buy it today, 23:12 if you don't have the money today son, 23:15 then maybe we should wait to get it. 23:17 And guess what happens? 23:18 The same thing that happened to me 23:22 in giving up that option of buying it 23:24 because I didn't have the funds to buy 23:26 or I didn't really need it happens to my child, 23:29 he forgets about that item. 23:33 And then what he does is we leave and go home 23:36 and it's no longer part of his mindset. 23:38 It seems as if that when we see something, 23:42 this thing called greed, 23:44 this thing called thinking about that I need to keep up 23:47 with the Joneses on the other side of the fence, 23:50 it's not that important. 23:51 And going back to the initial conversation 23:53 about what happy people know about money 23:56 is that they're not focused on money, 23:58 they're not focused on buying things, 24:00 and acquiring things. 24:02 But they're focused on using the money 24:03 in an appropriate way 24:05 that keeps them stress free 24:07 and has them providing benefits to whomever it could be, 24:11 nonprofit organizations, philanthropy, 24:13 going on mission trips 24:15 all of these elements are part of how happy people 24:18 now focus on how they use the money. 24:21 They're not focused on the money. 24:27 One of the major other issues 24:28 that, and we'll talk about two more, 24:30 one is the specifics about access to consumer credit. 24:34 We've talked about this 24:35 and I continue to repeat it over and over again 24:37 is consumer credit 24:39 is one of the most dangerous areas 24:41 that we could deal with. 24:43 Right now your bank is expanding, 24:46 trying to expand its market share 24:48 by extending credit to more risky clients. 24:52 And what they're doing with those future payments 24:55 on those credit cards is they're bundling those assets 24:58 and they are selling them to investors. 25:01 So it frees up the capital for themselves, 25:03 but guess what? 25:04 This freed up capital is not really a free way 25:07 of giving you credit, 25:08 there are costs associated with credit. 25:11 So they look at assessing you in a variety of ways. 25:14 Yes, they still look at your credit report, 25:16 they'll look at character, 25:17 they still look at if you have a savings account 25:19 so they look at capital, 25:20 and they still look at your ability to pay back 25:24 'cause if you don't have a job, 25:25 they probably not gonna look at you as favorably. 25:27 But if you do have a job they say, "Yes, 25:29 he has the capacity to payback on this account." 25:32 Okay, but they are looking at riskier clients. 25:35 They'll look at that and give you a card. 25:39 And they give it to you 25:41 saying you are now having the capacity to buy, 25:44 what you need to buy, when you need to buy it. 25:46 But they don't tell you that I am a business 25:48 and this business is in business to make money. 25:52 So they're gonna make money off of your acquisitions 25:54 and your purchases. 25:55 I advise that you get away from credit cards 25:59 and the use thereof. 26:01 And if you can't pay back the balance within 30 days, 26:04 why are you gonna use it. 26:05 It means it's not necessarily a need, it's a want, 26:09 and unless I save for that need 26:11 then I won't respect the acquisition 26:14 that I purchased. 26:15 So I ask you to look at that in a serious way 26:18 and consider that credit and the access 26:21 that people are giving you to credit 26:23 is something you should think about very carefully 26:27 and be very hesitant in getting indebt 26:30 from that standpoint. 26:31 The last point I'd like to talk about 26:33 in reference to living beyond your means 26:36 is understanding 26:38 what financial education is about? 26:40 We don't teach it in schools. 26:42 We don't teach as a part of college courses, 26:44 we don't teach as a part of elementary school classes. 26:48 We talk to our young people at home at times about finance 26:52 when we give them a small allowance, 26:54 but do we teach them about saving? 26:56 Do we teach them about investing? 26:58 Do we talk to them directly about their capacity 27:01 to acquire specific goods and products? 27:04 But do we also talk to them 27:06 about getting away from being a consumer 27:09 and think about becoming a producer. 27:12 Do we think about teaching our kids 27:14 about owning a business 27:16 and developing a business idea, a business concept. 27:19 My daughter is planning to open up her own jumper 27:25 or this pullover type of business. 27:28 She likes these little things, the cute little pink things, 27:32 and she has her own, her own creative design for it. 27:35 What I ask you to do is teach your kids about finance, 27:38 talk to them about it directly. 27:40 Make it a part of your ongoing conversation. 27:42 Remember, that there are a lot of people stressing out 27:45 about what life is about 27:47 and unless we educate ourselves, 27:50 stress will kill us. 27:54 So let's stop living beyond our means, start saving, 27:58 and Take it to the Bank. 27:59 Thank you. God bless. |
Revised 2017-05-11