Participants: Cordell Thomas
Series Code: TITTB
Program Code: TITTB000032
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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 and many more financial matters 00:29 on Take it to the Bank. 00:31 Hi, my name is Cordell Thomas, 00:33 and this is Take it to the Bank. 00:35 Welcome to you and I have my wallet out 00:37 so there's a purpose for it being out. 00:40 We're discussing today about some of the things 00:42 that you should not carry in your wallet, 00:44 some of the things you should not do 00:46 from a financial standpoint. 00:48 What is the critical think on money that you have 00:50 that you would like to share, 00:52 and I would ask you to even to go to our website, 00:54 you know, sign in, give us some contact information, 00:57 give me some feedback, which you have been doing. 01:00 Some of you have called about items such as credit, 01:04 my credit repair, credit rebuilding, 01:07 many of these type of issues which are important issues 01:10 as we look at our overall look at how we deal with our money, 01:16 and what are critical thought processes 01:19 in buying something and doing things. 01:22 Now, many of us have concerns about custom service 01:25 when we go and buy something, 01:27 we didn't get what we expected. 01:29 Those are some of the top customer complaints 01:31 that we have and warranty items. 01:34 We were told at some point in time 01:36 that cars, the quality of cars didn't start going up 01:41 until competition started happening. 01:44 People are competing all the time 01:46 and they are competing for your attention, 01:49 so no matter who you are, they are willing to talk to you 01:53 because if you have the revenue or the money, 01:57 the funds, cash is king. 02:02 Did you know 02:04 that there are things that you can get for free? 02:08 Did you know there are programs that are out there 02:10 that are target towards people 02:11 who make between 30 and $45,000 a year 02:15 that provide them access to free money? 02:17 Wow! What did I just say? 02:20 Free money, which is a great investment. 02:23 There are programs out there that provide you an opportunity 02:26 to actually have your savings match to, two to one, 02:30 three to one, four to one in some instances. 02:33 We have some programs in southern California, 02:34 where we had people line up and begin the process 02:37 of getting to habitual savings process. 02:41 And once they save a certain of money 02:43 what get to their objective, 02:44 their money is matched two to one. 02:47 So, you could save a $1000 02:48 and you have $2000 match to that, 02:50 you have a total of three, 02:51 and we are knowing now that it works, it works. 02:55 And people in your-- 02:56 in some of our situations where we may be challenged 03:01 from a revenue or income standpoint, 03:05 I think there are several things that can be done 03:07 to help you change the mindset that you have 03:10 and move towards becoming more, taking more ownership 03:14 of who you are as a father, 03:17 as a caretaker of the home that you've been given to do. 03:22 So, many of these things that we talk about, 03:25 I'm throwing out hints right now to you 03:27 because all you need to do is connect with me on the website, 03:30 give me a call, and I will share with you 03:32 specifics about websites and places you can go, 03:35 to get access to these type of services. 03:38 Did you know that if you buy glasses, 03:42 how much they typically cost? 03:44 You can buy glasses for 150, $200. 03:48 There are places that you can go 03:49 to get free eye glasses or glasses that cost 695, 03:55 and these are not cheap glasses 03:56 and it just, and it does include the lenses. 03:59 Did you know there are ideas, 04:02 there are different hints that you can find out 04:06 about how you can bypass all of the messaging 04:11 then when you are calling your bank for example. 04:13 There are simple tools you can use. 04:14 There are apps that are out there 04:16 that help you wait in the sequence, 04:19 so you don't have to sit on the phone 04:21 and listen to music. 04:22 You can go do your thing and it will call you back 04:25 when you are ready, 04:26 they are ready to speak with you. 04:28 Did you know that if you go to any major type of building 04:33 type of retail store that they have the ability 04:36 right there in front of you to give you discounts, 04:39 if you ask for them? 04:41 Did you know that medical billing organisations 04:44 hate to bill through the insurance company, 04:47 and are willing to check with you 04:49 and give you up to 50% discount on the services 04:52 that they provide from the medical standpoint? 04:54 For example: If you wanted to get a medical check up, 04:59 you could go to specific website 05:00 and check what typical physicals cost. 05:04 And then you go into that organisation 05:07 and talk to the biller, talk to that individual 05:09 and say, "Hey, you know what, 05:10 I don't want you to bill this through the insurance, 05:12 but I would like to pay cash for it, 05:13 can you give me discount?" 05:15 And guess what they can do. 05:16 They can give you up to a 50% discount. 05:18 Many little things that we don't know about 05:21 that can give us an opportunity to save in many different ways 05:26 moneys that we will typically pay out 05:28 or could be charged through our bottom-line. 05:32 One of the other things that people are not quite aware of 05:35 is the opportunity you have not only to save, 05:39 but to think through the different items 05:43 on your budget and figure a way to save. 05:46 Do you really need a landline if you have smartphone? 05:51 Because people can find you wherever you are at 05:53 with your smartphone, 05:55 and you can take calls at home also. 05:57 So why do you pay for both a landline, 06:00 and a smartphone? 06:03 Little things if you think about 06:04 or the context of I have internet access 06:09 with the super speedy type of broadband, 06:13 so I can get downloads very quickly 06:16 and also at the same time I can get Voice over IP, 06:20 which means internet based phone service, 06:23 which can be a lot less expensive 06:26 than land based phone service. 06:29 And many of us, 06:30 when you take a look at the budgets that we do, 06:31 we see people that have all three, 06:34 and they are spending well over $250 a month 06:38 for just phone when they could limit their costs 06:41 maybe $90 or $100 a month. 06:43 When you look at what's out there 06:45 and you research of what you need, 06:48 then you can make decisions accordingly. 06:51 And those are the things 06:52 I want us to start thinking about, 06:54 as we look at making decisions 06:56 about what we carry in a wallet, 06:57 we go back to the critical think on money. 07:00 Why do we ask that additional question? 07:03 Why do we talk to these different elements 07:06 of what are important to have with you 07:08 and what are important to avoid? 07:10 The reason why we do it this way 07:12 is because we go back 07:14 to the same context of a question 07:16 I always ask people in our classes. 07:19 What question would you ask 07:21 if you were asked to invest in a barber shop 07:24 for someone that is bald? 07:26 Those are the major questions 07:28 and the thoughts that I bring to your attention 07:30 because as we begin to think 07:32 about how we handle the money in the investments, 07:34 the things that Christ has given to us to manage. 07:38 We begin to get an idea that it's not about the money, 07:44 it's about how we utilise the funds that we're given. 07:48 And then it becomes a big, big process initially, 07:52 a difficult process to make a decision 07:54 about what are my needs. 07:56 What are my wants? Why am I buying this? 07:58 Why should I get this? Why do I need this? 08:01 And now we get to the context 08:03 of some of the important questions we should ask about, 08:07 what do we carry with us? And why do we carry it with us? 08:10 And what should we avoid carrying with us? 08:12 And what, why we decide 08:14 not to carry those items in our wallet? 08:17 Now, a wallet could be, a wallet could be a murse, 08:19 it could be a purse, it could be anything 08:21 that someone carries with them 08:22 with a lot of valuable information in there. 08:25 Ask the question, same question I've always ask, 08:28 is it valuable to carry an extra key in your wallet? 08:33 If your wallet gets stolen, 08:35 they not only have your home address, 08:36 they have an extra key to get into your address, right. 08:39 So little things that you should ask along the way, 08:42 what if someone say, "Hey, why don't-- 08:44 I need to bring in a lottery that I won 08:48 and I need to pay a fee to get access to that lottery, 08:51 can you help me out?" 08:53 This is something I got involved with. 08:56 Someone came to me 08:58 and asked me that same question, 09:00 and then you begin to ask the typical type of questions 09:03 that are necessary to say 09:04 is this something that's legitimate? 09:06 Is it something that I should get involve with? 09:08 Should I help out with it? 09:10 And I actually didn't ask the critical question. 09:12 I just accepted the fact and heard what the person said, 09:15 and I began and I helped the individual initially 09:18 to get access to whatever cash they had coming in. 09:21 And guess what? 09:22 If I would have thought about it at that time, 09:25 I wouldn't have done it. 09:26 After the fact I thought about, 09:27 "Why did I just give that person some money 09:29 to help get something 09:31 that you shouldn't have to pay for?" 09:33 'Cause legitimately 09:35 if you're getting money transferred 09:36 into your bank account, 09:38 all the bank would do is take from the proceeds 09:41 that go into your account, the fees that are necessary, 09:44 and it's a smooth process. 09:45 So I always ask those type of questions 09:48 and I ask you to ask the same legitimate questions 09:52 that are necessary to get down to the core of the matter 09:57 which is, 09:59 what is the critical question I should ask of you, 10:01 if you are asking me for money? 10:04 Those are the issues. 10:05 So now, I go to what we're talking about 10:08 the critical think on why we should carry, 10:11 we shouldn't carry certain things in our wallet. 10:13 What are some items that we should avoid carrying, 10:16 and we went to those same young people and said, 10:19 ask the same question. 10:20 What are the items 10:23 that you should avoid carrying in your wallet? 10:26 And it's interesting how they responded, 10:28 and we will go from their answers 10:31 and explains in more detail. 10:34 Do not carry my social security card number, 10:37 I memorise that, 10:38 so if I ever need it, I just know it. 10:41 And I don't carry any passwords like reminder words, 10:47 so I keep that and as well, 10:48 I don't carry like any personal information 10:51 like a birth certificate or passport. 10:53 I don't carry any of that in my purse either. 10:57 Should avoid carrying in your wallet, 10:59 your passport, your social security card, 11:01 those are like very critical elements 11:03 you need to survive in this country. 11:06 And you don't want to lose that very easily. 11:08 You also don't want to carry 11:09 like your checking book information, 11:11 your bank information 11:12 or any other information that it's very personal 11:14 and then, it can be harmful to you 11:19 if somebody were to get that information. 11:23 You should avoid carrying in your wallet 11:25 any extra personal information such as social security number, 11:30 alien identification number, 11:33 any, probably too personal credit card information, 11:37 you know, birth certificates and too much cash 11:43 I believe it's very dangerous for you to be carrying, 11:47 you know, thousands of dollars in your-- 11:49 I mean in your wallet 11:51 because, anyone can rob you at any time. 11:58 You should avoid carrying 11:59 your social security number card, 12:01 and your banking information, 12:06 like your account number and all that. 12:11 And that's on your birth certificate 12:14 because you don't need anybody knowing that 12:17 unless you really, really need it for 12:18 like a job interview or something, 12:20 which I doubt it but, yeah. 12:23 Do not carry a pocketknife in your wallet for sure. 12:33 That answer caught me off guard. 12:35 He is a very smart young man, 12:37 and what he says is very accurate. 12:40 I'm little redundant here, but you don't carry things 12:42 that make you uncomfortable specifically in your wallet 12:44 or whatever you carry those important documents in. 12:48 But what's true 12:49 is the fact that we establish certain type of guidelines 12:54 that protect us as individuals, 12:56 and you've heard what most of those young people said, 12:59 about social security number or social security card. 13:02 One of the biggest issues that we have to be aware of 13:04 is that people are looking for information for us. 13:06 So you begin to see the changes 13:08 that have happened in the environment 13:10 such as retailers now 13:13 cannot keep your MasterCard 13:18 or credit card information available. 13:21 So the numbers that they have 13:23 when they print out your receipts, 13:25 only show the last four numbers of your credit information. 13:29 But then of course, 13:30 they are not able to really retain that information 13:33 and specifically some of these things 13:36 that you now are educated on, you can make certain 13:39 that people don't keep your information 13:41 and that you're in control of that important documentation 13:46 that you should have and carry in your wallet. 13:48 So now, we talk about that list of things you should not carry. 13:54 Social security number, why? That information is critical. 13:58 A person gets your social security number, 14:00 that means they can get your ID, 14:02 they can open up credit in your name. 14:05 They can do a vast number of things 14:08 and stealing your identity. 14:10 One of the big things that I try to warn people 14:12 about in this era of technology is that, 14:15 I don't even make calls from my cell phone 14:20 when it has to do with important transaction 14:23 such as talking to the bank. 14:26 That information is not on a landline 14:29 and so that information is out there in the atmosphere, 14:33 if I can call it that, 14:35 and so people could typically pick up on your conversations. 14:38 There is a vast danger there. 14:40 We know of individuals that have technology 14:44 that can follow you in cars 14:46 and listen to your conversations. 14:48 Yes, that is available, 14:50 and would you wanted to have someone 14:52 you have no ideas out there 14:54 finding out information about you 14:56 and using it to develop other person, 14:59 other identities that can come and haunt you 15:02 in the near future. 15:03 Another concern about social security numbers 15:06 are about our children. 15:08 The young people that can't get access to credit as yet, 15:12 your two, three, four, five, six year olds 15:15 are having, constantly you're seeing stories of companies 15:19 having their databases being hacked into, 15:22 and people stealing that information. 15:24 You know what's interesting, they will not report 15:28 that the database has been hacked into four, 15:31 at least two, three weeks up to two to three months. 15:36 And then, you get a letter from them in the mail saying, 15:38 "We are sorry to say 15:39 that our account has been hacked into, 15:41 and your personal data was stolen." 15:45 And then you have means to worry, 15:46 and then they tell you, 15:48 "Hey, but we are providing you a free service 15:50 that will help lock your information, 15:52 so in case somebody is trying to utilize it, 15:55 you are able to control it a lot better." 15:57 Well, a couple of weeks 15:58 or up to two months have gone by, 16:00 so how secure is that?" 16:02 And there are many people now that are reporting in 16:05 saying that their children over the years 16:09 as they reach a certain age, 16:10 once they check on the credit information, 16:13 they find that their kids have a credit file. 16:16 It's not the kid's credit file, 16:18 someone has taken the information, 16:21 and used it to their benefit, 16:24 and or sold that credit information 16:27 all over the globe, 16:28 so other people are using it to get access to credit. 16:31 And it's a next big wave of concern, 16:34 that most of us should be quite aware of. 16:36 So that's social security number 16:38 is one of critical concern, and we should be well aware of 16:44 how we handle that information and what we do with it. 16:47 There are some that advice 16:49 that you take your social security card 16:51 and put it in a bank lock box. 16:54 Well, it creates a little inconvenience 16:56 when you have to apply for a job 16:59 that needs your credit-- 17:01 your social security number. 17:03 But as the young lady on-- 17:05 in our interview said, she has hers memorized. 17:09 Unless you need to show it to any one 17:11 from an employment standpoint, 17:13 you should also make certain 17:15 that you know the employer is a credible employer, 17:19 and it's not just somebody that's out there 17:21 saying that they will employ you, 17:23 just to get access to your social security information. 17:26 Big things going on from that standpoint 17:29 and the more people know, 17:30 and more technology proliferates, 17:33 there's a more reason we to stay actively involved 17:36 in protecting our information, and protecting our data. 17:39 So don't carry a social security card 17:43 around with you 17:44 because if you lose that type of information, 17:47 it creates a major, major problem 17:50 as you try to resolve and straighten out that issue. 17:54 Number two on the list are business cards, 17:56 and now I don't know how I can, 18:01 say that a business card is something 18:03 you should avoid carrying with you 18:04 except to save that if someone steals your wallet, 18:07 what do they have? 18:09 That's the thought process that I like you to think of 18:12 is now what do they have of you. 18:14 They have your driver's license, 18:16 if you carry your driver's license 18:18 in your wallet, and what does that tell people. 18:21 Well, it gives people your address, 18:23 where you live, gives the picture of who you are, 18:28 so now all of that information is out there on you. 18:31 Now, they can have some means of putting together a profile 18:35 of who you are. 18:36 They not only have your driver's license, 18:37 they probably have a debit card of yours, 18:39 and they have a credit card of yours. 18:41 They also have some other information 18:43 if you carry coupons with you and receipts. 18:45 They can put together a really unique profile 18:48 of who you are as an individual. 18:50 And then of course, 18:52 if you have a business card in there, 18:53 they not know where you live at home, 18:55 but they now also know where you work. 18:57 So it gives them a complete profile 19:00 of not only what you do, where you work but it can-- 19:04 they can infer how much money you're making 19:07 based on the job title you have on the card. 19:09 So I would tend to think, there are other ways 19:11 of carrying around personal information 19:13 such as a business card. 19:15 And typically you can put your business information 19:18 in a contact form, 19:19 electronic format on your smartphone 19:21 and you can share with people that way. 19:23 I would tend to think, the most important 19:26 and most valuable outcome of keeping in that way 19:30 is that people can't put together a complete profile 19:34 of who you are, 19:35 if in fact they are able to take your wallet 19:37 and walk away with it. 19:39 Okay, the next thing 19:40 that I would probably tend to ask people to look at 19:42 would be, what amount of cash 19:47 do you think is necessary to carry with you. 19:49 Because if you carry too much of one thing, 19:53 it can be a major loss. 19:54 So I definitely think that as we look at what we are, 19:59 think of as an adequate amount of cash, 20:02 consider that type of element, consider where you live. 20:05 Remember, 20:07 that insurance on a car is based on where you live. 20:09 If you are an urban, in more dense area, 20:11 you're typically likely to pay more money for insurance 20:14 than if you live in a rural area. 20:15 The same applies for if you live in a dense 20:19 or urban community, 20:21 you are going to have to think more of your safety issues. 20:25 More people, studies have been done, 20:26 more people in a dense compact area 20:29 is more likelihood 20:30 of having some type of criminal type of behavior happens. 20:35 So watch yourself, protect yourself, 20:38 carry those things that are only necessary, 20:41 and don't provide necessary details of your life, 20:45 either electronically online 20:48 or keeping that type of information with you 20:51 in your wallet. 20:52 One of the other things 20:53 that are really important to think about 20:55 is how many credit cards you carry with you, 20:57 or debit cards you carry with you. 20:59 If I asked you that question, 21:01 the statistic show that people were carrying 21:04 more like three to five different type of cards 21:07 in their wallet with them. 21:08 They carry not only the credit card, 21:10 they carry a debit card, 21:12 they carry a retail store chain card, 21:14 they carry a gas card, 21:15 they carry a variety of those things in their wallet. 21:18 So if people take that, 21:20 they have taken a lot of information from you 21:22 as an individual, 21:24 and it could create a crisis at that time. 21:28 Now, the last thing that we, we talk about 21:32 is to avoid carrying a check leaf. 21:35 You know, I used to do that, 21:37 just drop a check leaf in there, 21:38 because I'm gonna probably need to use it 21:39 as I go and do certain things. 21:42 But I would say, avoid that, because why? 21:45 They have access on a check. What does a check have? 21:48 It not only has your address, it has routing numbers, 21:51 it has your checking account number, 21:53 that has information that they can utilize 21:56 to get access to your bank information, 22:00 this is crucial. 22:02 Many people have had their savings 22:05 and their banking information taken to whole new level 22:09 and it's-- 22:10 They have taken the money out, 22:11 and they have lost it completely. 22:14 I suggest that we do one other thing. 22:17 The one other thing that I ask you to do, 22:19 with your wallet 22:21 and the information that's in it 22:22 is make a copy of every thing you carry with you. 22:26 Why? 22:28 Because if it is lost, 22:29 you can actually put together a puzzle 22:31 of what you had and what is now gone 22:34 and you could put it together in a viable way 22:37 so that you can know who to call 22:39 as quickly as possible to close down those accounts 22:42 before any major damage can be done on your account. 22:46 Many people have asked the question 22:48 of what's the right time to it. 22:49 Well, as soon as somebody, 22:51 you find out your wallet is lost, do something. 22:54 But there are many people that walk around with 22:57 assuming that their wallet is in a certain specific area. 23:00 I keep my wallet in my murse, my man's purse 23:03 or I keep my wallet in my back pocket. 23:06 For me, I always have to be in connection 23:09 with my wallet somehow if I'm on a trip, why is that? 23:13 Because people can take it out of your pocket at any time, 23:16 and the quicker you know it's gone, 23:19 the better of you will be, 23:21 although, it can be a very stressful situation. 23:25 The longer that happens, 23:28 the longer they have to do damage, 23:30 and the longer they have to create a whole new identity, 23:35 and create lot, a lot of other problems. 23:39 One of the major items 23:40 I also ask people to do is this. 23:43 Check your credit report, check your credit profile, 23:46 take a look at what's going on with your personal information. 23:51 It will be interesting to find out, if something is there 23:53 that's not supposed to be there. 23:55 You can fight it, you can find out 23:57 what's going on with your specific profile. 24:00 Check on specific items in your profile. 24:05 Check on what's going on with your personal data, 24:09 phishing scams, 24:10 and other type of scams are out there all the time. 24:13 People are sending viruses all over the place, 24:17 and they can get on your computer. 24:19 And what do they do? 24:20 They track your key strokes, 24:22 and can find out information from that standpoint. 24:25 I cannot emphasize enough, 24:28 that as we talk about the items to avoid in your wallet, 24:31 these are items to avoid carrying around with you 24:34 all the time, 24:35 it can provide you a sense of peace of mind 24:37 if you know what's going on with your information 24:41 on a real time basis. 24:42 And most people don't have the time to do it, 24:44 until it's too late. 24:46 There is a statistic out there 24:48 that many people may not know something is going on 24:51 with their personal data until it's way too late. 24:54 And it takes a long time to unravel all of the things 24:59 that can cause damage to your information. 25:03 So those are the major things that I would emphasize to you, 25:07 as somebody that dwells in an inner city area, 25:10 in an urban area, 25:12 and it is of utmost importance that you understand 25:17 how this all fits into your personality in your profile. 25:20 If you are discouraged about working 25:22 and you can't find work, 25:24 there are things that can be done for you. 25:27 I will tell you this, 25:28 that the study that's been done on self sufficiency 25:30 has told us this, that if you can get a coach, 25:33 somebody you can rely on, somebody you can talk to, 25:35 somebody that can give you good advise 25:37 about critical think on money. 25:40 Then you have somebody that will mentor you, 25:44 you have somebody that will talk to you, 25:45 and someone who will give you the right answers 25:48 and keep you motivated. 25:50 But there is one other important element 25:51 that you should be aware of, regardless of what issues 25:55 and barriers you have to employment, 25:57 you can overcome those barriers. 25:59 You can do a lot of great things in your life 26:02 and you can become a happy person, 26:05 by being able to give back 26:08 and do something for other individuals. 26:11 The thing that's most important 26:13 whatever your barrier is, is this. 26:17 We found out that if you can get a coach, 26:20 and you can get access to four specific services 26:25 for your personal life, 26:27 you have a 100 percent likelihood of succeeding. 26:31 So if you need information on child care, 26:33 if you need information on tax credits, 26:36 if you need information on, on free money access 26:40 or matching savings amounts, those answers are there. 26:45 The critical think on money is here 26:46 to provide you those resources, 26:49 and when you have those resources available to you, 26:54 and someone there to motivate you 26:56 and stay with you, 26:58 as you make those changes in your life, 27:00 you are 100 percent likely to succeed 27:03 in this issue called money. 27:05 So I take you a step back to the beginning 27:08 and I ask you to look at where you are at, 27:13 and then figure out where you want to be, 27:16 whether or not right now it's paying off that debt, 27:19 target getting it out of the way. 27:22 Secure a budget. 27:24 You can get one off of the website. 27:26 Download that budget and fill it in. 27:29 Know where your money is coming from, 27:31 know where your money is going. 27:33 The third step I ask you to do is look into your wallet, 27:37 look into what you carry with you on your smartphone. 27:40 Look into all of these elements that personalize your life 27:44 and that people are looking to take from you 27:47 to benefit themselves. 27:49 Think about it, make those changes, 27:52 call the people that can help you. 27:55 Call your pastor and then, Take it to the Bank and save. 28:00 God bless you. |
Revised 2016-07-18