Bad Credit? Do THIS to Increase Your Credit Score! PLUS the Secret to Building Wealth #DebtFree

do we see what's coming here okay let me show you debt debt debt debt debt i got a question for you so why is it that we rush to be married because everyone's talking about hey go get you a man go get you a woman chase the ring but you ain't chase your own life you know here's a funny thing you know as i'm traveling around the world and i'm on tv from tamarind hall to fox and friends to the rachel ray shows one of the most common questions i have been asked is anthony how did you build your success and it's simple i didn't focus on getting into a relationship i maximized my single season and that is why i created this course we're gonna walk through eight pillars on how to maximize your single season and really tap into that that potential that's on the inside of you that you really haven't brought out there's some assignments there's some constructive thinking that you're going to have to really put into place so that way you can start building your life because when we have ownership we have freedom when we have freedom it creates different opportunities when we have opportunities there's so much you can do with your future family but it starts right now you own your mind you own your thoughts god has given you something go do it [Music] according to experian 34.8 percent of americans have a fico score between 580 and 669. and to be honest that is considered to be long one of the most common questions i'm often asked on instagram and or on here on youtube um or even on podcasts in the comments like hey anthony how do i build my credit score and i laugh sometimes because i'm like wait wait wait do y'all not listen to my message so you know what i decided i was like you know what let me go on ahead and answer this question so today i'm gonna answer this question and i know some of y'all are shocked wait a minute anthony o'neil the debt-free guy is going to show me how to build my credit score i am and i would encourage you to listen all the way to the very end because you know me i stay true to who i am you know um i remember growing up and i was like yo listen i gotta have a credit score like to be a man i gotta have a credit score and i'm gonna walk y'all through the things that i did to build my credit score score the very first thing that i did was i checked my credit history i'll never forget um i went out there and pulled my credit report i went to transunion and went to experian i went to equifax and i pulled my actual credit report because i wanted to see what all was on my credit and so i actually agreed that all of us whether you're doing the credit route or the no credit route like me we should at least once sometimes twice a year pull our credit reports to make sure that nothing fraudulently has been reported if you're drowning in debt you need to pull it so you can see who all you owe you need to be aware of what's happening with your social security information and with your credit information the only thing i have on my credit report is my mortgage right and so for me if you really want to start building your credit score the very first thing you have to do off top is you need to know your credit history you need to pool your credit report now here's number two you know and and and you want to build a credit score you know uh number two is you need to make the minimum payments on your credit cards on time right that prevents a late pay if you're really going deeper into the people who like promoting other people's money and maximizing your credit score they will say keep your balance below 30 right you know missed payments are a sure way to drop a credit score let's just be real all right even if you can't afford to pay off your card each month try to make the minimum payment that's what they will say all right make the minimum payment okay if your minimum payment is 30 dollars a month and your interest rate is 17 just make the minimum payment don't worry about the interest penalties don't worry about uh the penalties you pay just make the payment because the end goal is not financial freedom the end goal is the 800 credit score the end goal is not freedom the end goal is a credit score so please make your payment on time okay and can i just be real with y'all i'm going to be real y'all up front all right honestly your creditors they don't want you to pay off your credit card every month you know i get this it was all man i get the credit card and i paid off every single month listen if everyone in america if everyone in america was paying off their credit cards without paying any interest there would be no credit cards we wouldn't have a system because there's no money in the system if everyone is paying it off on time and not paying interest so i'm gonna be real with you all some of y'all gonna get upset but i told you this year we're coming at it differently i'm coming at it real i'm coming at y'all the way i wish somebody would have came at me when i was young and i was thinking about doing some foolish stuff with my money okay you're not go the majority of you all watching me right now who have a credit card let's be honest i can't see your face but you can see mine you can't see everyone else's face who's watching and listening uh to today's show the majority of you all who got the credit card this is what you said i'ma get it for an emergency and i'm gonna keep the usage below 30 and i'm never going to pay interest and 8 out of 10 of you all failed you failed you're paying 17 21 of interest you're carrying over a balance you're racking up credit card debt and you're drowning in debt because you thought getting a credit card will help you get a credit score and now look at you you went and you financed that date you went and you put that gucci backpack that louis vuitton backpack that chanel purse that spring break on there listen the creditors don't want you to pay it off on time now i'm gonna keep it a buck at the table there are some of you all who are watching this right now and you don't pay interest i'm not talking to the minority i'm talking to the majority for the first time today i'm not talking to the minority i'm talking to the majority of people in america who are sitting here saying this crap i'm going to pay it off every single month and you're not so you want to build a credit score make the minimum payment don't pay any interest okay making the minimum payment even if you are curing crazy interest over time will slowly increase your credit score let's just be honest all right but while you're slowly increasing your credit score you're also slowly slowly slowly racking up that now let's just be real let's say you have this this credit score here's number three thing you got to do is communicate with your creditors you got to communicate with your creditors by now you've probably got creditors and debt collectors calling you because you wrapped up all these credit card debts you're not making them uh the payments on time and you're struggling i get it i understand you know and so now you probably have creditors actually calling you saying hey you know mr sessions such mrs and said you you're later in the payments you know before we sit in the collection agency we just want to communicate so we can work on the payment okay if you want to boost your score it might be time to talk with your creditors and work out a deal before it gets to the collection agency you see your creditor may be able to get you on a payment plan but be warned debt collectors can sneaky and will say anything to get you to make payments know your rights if you're at a point to where you are now in collections all right and you're trying to save your score right um i remember being in collections and i remember calling people and lying to them trying to scare them disrespecting them just so i can get a payment all right just so i can get a payment but if the creditors are harassing you or threatening you let me be real with you be sure to record the messages and report them to authorities because it is illegal for them to threaten you it is illegal for them to be calling around you know all your neighbors because there's this thing called skip tracing to where they can you know find out where you live and then call other people around you call your family call your friends call some of your call your job and call check this i used to do this i would call your job and if you didn't pick up i would just change like the last number on your number or i would call the the big the whatever the main office line is and ask to speak to someone else and yo hello is such-and-such at the office no she's not in today but can you tell us tesla's from such and unfortunately we may have to be have her serve today and she wants to know why she's going to be served i have to have her to give me a call i have him to give me a call i used to do so much stuff um and you know what if you don't report it they're not going to get into trouble and i used to scare people i used to scare people i used to scare people because they racked up all this debt but if they wouldn't have racked up all this debt they wouldn't be getting phone calls but you all want to know how do you build a credit score how do you build a credit score you're not asking me how do we build wealth people ask me how do i build a credit score and i get so frustrated so i said let me answer that today number one you gotta check your credit history number two you gotta make the minimum payments and keep your credit below 30 of usage number three you got to communicate with the you know with the creditors especially if you're going into collections number four you got to pay down your balances as much as possible to lower your credit usage percent lenders like it when you're in debt let me say this again lenders love it they are in love with you when you are in debt but they don't necessarily like it when you max your credit cards out each month and you do not pay them back they want to see you in debt they want to see you drowning in debt as long as you coming up to breathe he goes 30 dollars he'll go 20 dollars he'll go honey no they want you drowning as long as you come up to breathe they don't want you on the surface they don't want you swimming and soaring and enjoying freedom no they want you drowning as long as you don't die let me say that again they want you drowning as long as you don't die because if you die financially you can't pay them back but if you're drowning you can come up and catch a breath and go back under come back up catch a bradley go back under they are in love with you because you're trying to keep a score they're trying to feed their families oh you're trying to keep a score to get a score and they're trying to put money into their grandkids future oh my gosh oh my gosh oh my gosh so number four pay down your balance as much as possible to lower your credit usage percentage okay what do some experts say in this whole area aim to pay off 70 of your balance if you can keep the balance around 30 of your overall credit your credit score will start increasing so pretty much pay off some of the debt and keep some of the debt stay in debt so you can get a score this is probably the hardest show i've ever done because i hope y'all see where i'm going here it's like number five right it's keep old accounts open keep old debt accounts open if you have an old you know credit account that you're not using oh just keep the debt open you know just keep it open it makes it looks like you know you have a full credit history and more responsibility with your credit okay yeah so go ahead and keep that deadline i'm lying on them open so if something does happen you can jump back to that rather than using cash you could jump back into debt you could jump in and rack up more debt rather than go into your emergency savings account and avoiding that yeah yeah you want to build a score you don't want to build wealth you want to build a score yeah just keep that account open just in case you need to rack up some more debt that's how you build a score number six add yourself to someone's account who has good credit go put yourself you know go ask them they can put you on as an authorized user so you can build your credit score yeah yeah so that way when they go out there and they max out their lowe's credit account or their you know their home depot account yeah you're going to get the max out too now you're just great your score is going up your score is going up your score but not your freedom not your financial peace not your wealth not the things that really make a difference you know if you follow these tips over time your credit score will improve let me just be honest you'll get to the 700 800 score but it's not going to help you build true wealth paying off your debt saving cash investing your money coming up with a clear vision and you're sticking to that vision whether that's with you by yourself or with that's with you and your spouse as with you and your spouse and your family your kids that will build wealth when you die your credit score can't be passed down to your kids it can't but what you have in investments what you have and ownership what you have accumulated when it comes to wealth can be passed down to your kids and i remember chasing a score thinking that was the best way to build my wealth when it wasn't now let me be honest with you guys let me be honest with you let me be honest with you at this season of my life i'm not knocking people who want to go the credit card route the credit score route the opm route other people's money if that's what you want to do i'ma be real with you i'm not your guy i'm not the guy that's going to sit here and preach here's how you build credit here's how you rack up more debt no no i want ownership my whole platform is about ownership my whole platform is about man i remember having a 700 credit score but i didn't have 700 in my bank account but i was chasing a score rather than chasing how do i live how do i grow how do i build my bank account so i did a whole show with this thing here's how you build your score so y'all can stop asking me anthony how do i battle up in my credit so i can get a mortgage how do i build my credit so i can get this how do i do this no stop asking me because you i'm not going to be that guy but i gave you five things if you care about the score that's how you do it the key thing you got to do is you got to build up that that's it let's just be real gotta rack up that i know some of y'all watching or going to comments and say well anthony you're kind of wrong because you know i don't pay interest i'm not talking to the minority i'm not talking to you because i firmly do believe that there are people who can have a credit card and do not pay any interest one of my mentors does it he gets his credit card he puts everything on that credit card and it's due on the 12th he pays it on the 10th of every single month his assistant actually makes the payment you know so it's like i get it i ain't talking to you bye you can get off the channel [Music] i'm talking to the majority of the people who think they can do it but they can't but i'm a living witness that yo you can have the life that you want you can have you can drive the cars that you want you you can you can live in the house that you want you can go on a vacation that you want you can build the house that you want without having a credit score you can have financial freedom people come from you all the time said anthony your method is uh i'm like yo my method works for me and it works for 300 000 plus people too that's on this youtube channel it works for the hundred thousand of you all who download my podcast uh a month it works for several people and i'm ready to grow it even more so much more you see here's the truth a credit score isn't a measurement of how much money you have or how wealthy you are in the words of my friend and mentor dave ramsey a credit score is not the measurement of your success it doesn't it doesn't mean that you are financially successful okay it just measures how good you are at paying off and paying back debt that's it you have a 800 credit score does it mean that you are just this perfect person does it mean that that you are just brilliant when it comes to money no it just means that you're brilliant at swiping that card and paying it back so you know what let's go to the let's go to the whiteboard because i want to show you all exactly okay um how your credit score is calculated okay so let's let's break this down okay so your score um get this working right here's how your score is uh calculated all right and uh man yeah i want to thank apple for this ipad scenario i love this thing okay we taking this thing up all right so here's the very first thing this one is going to be your payment history all right so this is going to be uh yeah it's 35 all right so this is your payment history that's the first part then your next part is going to be your credit usage all right this is going to be 30 of your credit score this is how your score is calculated right then this is going to be your age of credit excuse my my writings all right uh it's 15 15 then we go down here it's like okay your credit mix this one right here is going to be another 10 and then you got another one new credit inquiries all right this is going to be 10 so now let's go over here what does what does payment history mean let me tell you this is going to be your debt history all right what about come over here what does our credit usage mean i'm gonna tell you this is gonna be our debt usage all right are y'all getting the magic over here are you seeing exactly what i'm saying age of accounts this is how long you had debt put to be there all right because keep going your credit mix what kind of debt okay and then your new credit your new credit here right here right this is pretty much going to be what kind of new debt do you want do we see do we see what's common here okay let me show you debt debt debt debt debt that's it pretty much you love paying back debt what is a credit score man i'm telling you just look at it look at it we got debt debt debt debt debt what do we not see on this list what what what do we not see on this list our score is not calculated by how much money we have in our savings account our score is not calculated by how much money we have invested our score is not calculated by how long we've been on our job our score is not calculated by how much we have in our 401ks our score is not calculated by how we live below our means our score is not calculated by how much we get on a monthly basis from our salary or from our businesses our score is only calculated by how much debt we have how much debt we use how long we've been in debt what kind of debt we have and then what kind of new debt are we trying to get what do you want me to do y'all want to build a credit score right just go rack up that just go let's go ahead and do it okay go ahead and do it go ahead and do it you see if you're struggling with a low credit score let me explain a few things to you okay while you're so focused on building a credit score you're building a cycle of debt and financial insecurity while you're so focused on chasing the 800 oh man i got a 800 credit score you are building a cycle of debt you're building a cycle of financial insecurity you're building a cycle that you're going to pass down to your kids that hey they value a score more than they value actual financial freedom and i refuse to be the guy that sits here and tells my kid everything in the world everything boils down to what's your credit score no nah man you want you want to know something else of why i get so passionate about this message right let me tell you why let's go back to the white board okay and and i think it's what yeah 2020 okay in 2020 then medium annual income for a single person okay the median okay this is the yes it's right so this is the median income okay and 2020 i got it on my notes here 35 800 let me clean that up for y'all 805 dollars all right this is 2020. all right so before taxes right this is before taxes bt taxes right this was two thousand nine hundred and eighty five eighty four yes eighty four um eighty four dollars a month okay 84 a month all right the average car payment in 2020 was 575 this is car payment okay the average grocery food in 2020 was 412 dollars a month all right utilities in 2020 the average 331 dollars a month right rent the average rent in 2020 uh oh uh oh 1124 what's that total right here 2 42 dollars wait wait wait so if they're making 2 984. a month minus 2442 [Music] right look at the math there i need to do the math because i want to make sure i'm absolutely correct so we do 2 984 minus 2 42. this is they only have left 542 for the month that's if that's if that's not even if this is before tax so they're already in a negative they're already living way above their means but y'all want to go out there and get a credit score you want to go out there and put more stress on to you so y'all want me to teach you how to build a credit score rather than go back to the whiteboard see rather than change this rather than change this crap we want to come back up here and focus on this this is what we want to do we want to build this up but this is our truth right here we're making 200 294 dollars before taxes car notes 575. let me clean that up a little bit yeah let me clean that up a little bit i want y'all to really see that the car note is 575 food i need to put that there it's 412 come on now utilities 331 rent 1124. so before taxes we're already above our we're already living above our means already already this doesn't even factor in uh eating out if you're on a date look at y'all look at you vacations if you want to get a vacation close and random expenses doesn't even factor in debt doesn't even factor in the average credit card payment that peeps on people to make it doesn't even factor in uh the the um insurance that some of you all are making doesn't even factor in uh some of the buy here pay here stuff y'all are doing online it doesn't even it just factors in the bare minimum things i'm not cussing i'm not gonna curse but forget a credit score huh i can't do it i'm not going to do it here's what i am going to do i'm going to help you get out of that i'm going to help you get into a home i'm going to help you start that business i'm going to help you lay down the foundation to build wealth i'm going to help you get closer to financial freedom i'm going to help you maximize your single season i'm going to help you really take control and have ownership of your life i'm going to help you really see your vision really write down your vision and stay true to your vision i'm going to help you be the best husband be the best wife you could possibly be i'm going to help you be the best friend be the best employee be the best employer that you can possibly i'm gonna help you avoid the drama i'm gonna help you leave the majority and joan the minority and when i say the minority we think differently when it comes to our money i'm gonna help you we're gonna help each other because i'm on this journey with you but those credit cards that credit score will not help you it will it's not going to help you because if you can't pay the balance every month if if if you're living way above your means what's going to what's what's going to happen is you're going to fall victim you're going to drown you're going to start drowning and listen man listen listen i am mentoring people right now with half a million dollars in debt and i'm not talking about a half a million dollars because they got a mortgage payment no i'm talking about a half a million dollars in consumer debt excluding their mortgage from loans private loans student loans credit card debt car notes i'm mentoring one particular person right now with five cars and this individual makes a hundred and twenty-five thousand dollars a year five cars 12 credit cards what in the world are we doing listen you don't have to live this way you can get off of this this this continued hamster wheel you can get off of this continued stare case that is not going anywhere and you can truly start gaining financial independence financial freedom so you can build wealth and never live check to check again but it starts with shifting your mindset about debt it starts with shifting your mindset period when it comes to life and i really meant podcasts i mean if y'all can get a chance and y'all listening to the podcast world man i want y'all to come look at my facial expressions right now because i really want you to understand i've been there man i've i've been that guy that that that that was like yo i need to you know i need i need to get an 800 credit score i've been that guy to where i sold a woman a car who had a 820 credit score um and she bought a car for her grandson but she was only making eight 900 a month but because she had a score the bank still gave her the money she didn't have the money she didn't have nothing in her savings account but because she had a score the bank said well since you're good at paying back debt we'll let you figure out how to pay us back the debt even though you don't have the money to pay us you see my message is to the average person in america my message is for the majority people in america not the ones who are handling doing this okay over here i'm talking to the nearly eighty percent of the people in america who are living paycheck to paycheck right now i'm talking to the people who are a little bit ashamed to see here when they say anthony's right i shouldn't have a credit card anthony's right i i need to get rid of this credit card anthony's right i don't i need to get rid of this car though anthony's right he i got it for an emergency but getting my hair done turned into an emergency because that new weave was looking good and my head started scratching i needed new braids anthony is right because you know i got the credit card for emergency but that beautiful girl with that long hair coke bottle shape full beautiful girl came to my life and i just wanted to impress her anthony i had to take her to ruth chris i had to take her to eddie v's i had to take her to one of the best restaurants so i can show her that i'm really into her so i racked up debt and i paid for that debt that meal over a month two three four months because i wanted to impress her rather than lay down a solid foundation for my life that's who i'm talking to that's who i'm talking to i'm talking to you i'm talking to your friend and the reason why i'm talking to you is because i've been that guy i've been that guy i was that guy that you know checked my credit history i was a guy that made just the minimum payments while i had a job i was a guy that you know i communicated with my creditors i was the guy that paid down the balances as much as i can i tried to keep it below 30 percent as much as i can i i was a guy that when i wasn't using the credit card i kept the account open just in case and that just in case turned into a 500 to a thousand dollar to 15 000 to a 20 000 to a 35 000 situation in a matter of six months i was that guy that got onto my parents not my parents i got on to my girls um at that time's credit card and credit card as an authorized user so i can you know get the credit score i was that guy how was that guy and where did it land me nowhere you know i used to say in the past that man it landed me homeless in the back seat of my car and it didn't i put myself in the backseat of my car i used to say it landed me drowning in debt it didn't i put myself in the debt i decided to go there why because i wasn't given the proper education and wisdom on how to avoid it and that's what i'm doing this year that's why we're going to two shows a week that's why we're building a course for single people that really has nothing to do with money this course has everything to do with how do we maximize our single season how do we shift our mindset because that's the very first thing before i can teach you anything about money i gotta make you understand and show you how to shift your thinking and i'm telling you it's absolutely amazing so if you want to build wealth stop worrying about your credit score and start focusing on getting out of debt if you want financial freedom stop chasing a score and start focusing on getting out of debt if you really want to pass down something to your kids instead of for saying hey look at what i got on credit because i had this crazy a great credit score you know what wisdom and knowledge are you passing down to your people can i be real to us and again i'm not knocking people who who use the opm out i'm not i'm not i'm not i rock on no opm not using other people's money i rock on ownership i'm a proud person to be on this side of the planet on this side of the world because it works for me and it feels good when i wake up and the only thing i have to take care of is my mortgage payment and then my business bills as far as i'm paying my contractors and my team members it feels good to know that i don't have any debt linking around that's chasing me down it feels good but can i be real for one second that i may i may step on someone's toes here and i mean this with no disrespect out of all love my white people just chill with me i want to talk to my people that look like me black people we are some of the most creative people but we don't own nothing we are the most creative minds out there but we don't own nothing we work monday through friday we work our butts off we get up and we you know put on our best and we go in there with our best attitudes and we give you know this job our hearts our mind for eight hours a day for 40 hours a week and some of us give us give them 50 60 hours a week we we put in all this hard labor to get our paycheck on friday and to give someone else the fruit of our labor because when we're living above our means two we're chasing a credit score to come back home on monday on monday and have nothing for our families we're chasing a score we're giving a man black man white man whoever we're giving someone else our labor for 40 hours or 50 hours a week to get our paycheck on friday to go spend it on the bank the credit card banks and the car dealerships and all these other people to come back home to our families broke we're not working monday through friday for our families to build legacy to build something that we own that our family owns we're working hard so we can help somebody else build for their families and in return we get a score bump that man listen let's dive in how can we shift the mindset how can we shift the mindset yo we're just not tuned in to the table man welcome back it's your boy anthony welcome back to the show this is a little different show man i'm literally teaching people how to build a credit score but before we get back to the show i want to remind you guys that listen um one of the key things when it comes to really building true wealth is having a solid savings account all right one of the key things when it comes to building true wealth is having a solid savings account is it one more time one of the true things one of the best things when it comes to building wealth is making sure that you have a savings account so you don't have to go back into debt and so one of the key things that i teach is make sure that if you're in debt you have a thousand dollars part for an emergency fund using the same seven baby steps that my mentor and friend dave ramsey teaches right but then on baby step number three is have a fully funded emergency fund of about three to six months i recommend go stretch the thing to six months of expenses and then i'm gonna add a little flavor to it you know from my thing now is make sure that you have six months of your salary you know your average income i would really push for that so that way your lifestyle doesn't have to change if you don't want it to um and where do you park this a lot of people say anthony where do i park this i just park this in my you know checking account and just don't test that amount of money no i want you to part that honestly in a totally different account that you still have access to when it comes to an emergency you can get to it instantly and my good friends over at prize pool is where i park my emergency fund and i want you to check them out i'm going to put their information in the show description and here's why i like prize pool it's very simple the fdic insured they're gonna give you point thirty percent interest on top of giving you point thirty percent interest they're kind of like a fun gambling app but they're a savings account so let's just say for an example you put a thousand dollars in this account where they're gonna give you a thousand tickets and at the end of every single month they do a drawing to do a grand prize of about twenty five thousand dollars and they'll do another grand prize of about 10 15 and then they'll give away a few hundred dollars here two hundred dollars there and that's actually pretty dope so they're gonna reward you for just parking your money there anyways and still give you the point thirty percent interest absolutely amazing and you are covered you are insured go check them out check them out because i promise you what we're about to dive into right now when it comes to the keys of getting out of debt you're going to realize that the keys of getting out of debt is to make sure that you have a savings account but you're going to get a savings account because the very first thing you're going to do is you'll get you a second job okay you know when it comes to paying off your credit cards fast there's three main things three main things i really really want you to focus on upfront and these are simple number one is you know find out if you can get a second job okay what if you're working eight to five eight to five pays the bills right i always say like five to five to nine builds your future if you're single if you don't have any kids even any other major responsibilities five to nine can shift and change your future how are you maximizing that time to get out of debt if you got fifty thousand dollars a hundred thousand dollars twenty thousand dollars ten thousand dollars how are you maximizing the time i interviewed a couple you know a few shows ago and man dave was like man for seven years anthony we were getting out of debt and we didn't we didn't do much we didn't do things we didn't really enjoy things because we were focused on when we got off of work it was all right cool what do we need to do between five and nine five and eight o'clock to generate more money to pay off the debt and one of the things you can do outside of us uh getting a second job especially in today's day and time is show how do you start a side hustle one of the top rising things to do and be real with you all right one of the top rising small types of business right people who are like me content creators who people who are getting on youtube and you have something to say you you're passionate about something they're getting on youtube they're getting a podcast show they're generating money from youtube they're generating money from brand deals and sponsor deals you know are you a writer can you write a blog and when you get a blog do you know that there's things called affiliate feeds so let's say if you write a blog and you're promoting a book in your blog because that book inspired something right well hey yo you can recommend this book go to amazon sign up for amazon and every time someone clicks on that link and buy something from amazon not just that book but if they click on that link that goes to the book let's say they buy that book and let's just say they buy um some plates for their kitchen you're going to get a percentage of both of the sales because you sent them to amazon there are so there's so much uh money out there to be made but the thing is are you willing to put in the work to do it you see the greatest enemy to our success the greatest enemy to us becoming debt free the greatest enemy to us building wealth is our excuse what's our excuse is laziness we are the greatest excuse we are the greatest enemy to ourselves why anthony i don't know what to do but listen do you have a four year degree are you drowning in student loan debt and you have a four-year degree if you do tutor some people get online go to tutor.com and go to someone do you have a car go drive for uber go drop off some food go deliver some groceries but i'm telling you right now there's ways to make money online i'm interviewing uh um a young lady she's like 26 27 years old and back in 2020 when she got her stimulus checked listen man she got a similar chef like 1500 bucks i can't remember the exact amount she got because she does have kids she took that stimulus check and turned it into 1.2 million dollars in 10 months she went online she started teaching people how to grow their social media accounts listen i remember back in the days man when um people used to say oh i'm a youtuber i remember can i be real with you i'm gonna be real with you my brother-in-law may see this i love you glenn uh i remember when he told me he's quitting his job and he's gonna be a youtuber i was like what a youtuber he better get you a real job the heck you talking about you're a youtuber man you got a wife you got a son you bet you better get our thing going work for walmart go get you a real job bruh today today he made more money than i ever thought this dude would have made he gut checked me real quick he's in a high six figures he's built a very very successful business and let's be real i'm a youtuber i'm a podcaster i'm a influencer so many different ways you can do it that can start generating you money right now you don't have to go in and technically clock in at another job but you need you do need to go clock in somewhere else if you're trying to get out of debt and when you start getting these extra this extra income coming in here's the very first thing you need to be doing is you need to sit down and cut your expenses cut them cut your expenses listen i just moved to the dmv area right and i wanted to build this beautiful studio and my team was telling me hey you have to spend x amount of dollars if you want to do it this way so i was like all right cool what can i cut to offset to go towards the vision if your vision is i want to get out of credit card debt if your vision is i want to get out of debt and start building wealth well how can you go to the vision for your money aka budget but i love saying the vision for your money how can you go to the vision of your money and start maneuvering some things out temporarily you know what can you do to kind of shift things and if you can do that you're going to start really seeing a huge difference when it comes to your vision for your money you're going to see you paying off debt you're going to see a lot of things but you got to cut your expenses you got to and if you don't cut your expenses you're not going to see a difference all right so i promise you this much you got to do it now once you start getting an extra job once you you know go out there and you start an online business and i definitely would encourage some of you because some of you man i think there is something on the inside of you that other people need to hear and let me let me let me let me let me pause right here and just encourage you let me just speak into your life right uh because i think some of you all watching right now say anthony you know i have this idea but people told me it wouldn't work let me tell you something man i've had some big names tell me some of my visions wouldn't work i've had people look at me in my eyes who called me their friends who called me a brother i've had people you know um who were close to me sit here and tell me that's not a good idea i don't really understand that i wouldn't do that that's not gonna work and it's working today here's the truth not everyone's gonna agree with what you're gonna do not everyone's gonna see the vision the way you see the vision not everyone's gonna see value in what you see value in true story i'm going off i'm getting back to subjects i wanted to just really pause here and encourage you i remember pastoring uh in a beautiful city of jacksonville florida and i brought up a young kid um who all the time would bring a basketball to church right and everyone in that all the kids in the church would clown on them they would they would laugh at him like bro why are you going to be carrying a basketball to church like how come everywhere you go in a grocery store you got a basketball in your hand you're turning it and you're you're dribbling it and you're throwing it up and you're practicing your wrist thing like man bro you ain't even that really that good like why you got a basketball and i saw them one day picking on him and the the lord the lord i'm getting spiritual here the lord told me you need to speak on value i was okay and use him as an example i said ooh so i'm speaking on value and i ask him to come up and he comes up and he gives me his basketball and i bring and he this is a kid that's like maybe like a maybe like a 2.5 gpa you know he wasn't he wasn't on paper the smartest kid uh but he was a brilliant kid and a very good athletic kid and i mean basketball was his ticket right and so um i bring up another kid who's a 4.2 she was like a 4.2 uh no i'm sorry that's i didn't bring her up i brought another guy he's like a four four 4.0 4.2 kid right so i take the basketball from the other young kid and i give him this basketball and everyone starts laughing when i give it to him and he was like what am i gonna do with this like what i don't need a basketball and then i took the basketball from this kid and i gave it to that kid who's the basketball is right i said do you want this he said absolutely yes sir that's a boy wait you want this and i went back to the kid who's a 4.0 kid and said but you don't want this and he was like correct i don't need it pa like what's what's up like i don't i don't want it i don't i don't even like basketball i said oh that's interesting but you like basketball he says no i love basketball no i i need basketball i said you need basketball i said what do you mean by that he said basketball is my ticket out of the hood basketball is the only way i could possibly get into a college and go somewhere that's better than where i live so while people were laughing at something that he valued because they didn't understand the value for themselves it was so valuable to him but it wasn't valuable to the kid who's a 4.2 because he has another sense of value which is education that was going to get him through but this kid who valued basketball who said yo this is my ticket up out of here and this could be the possible ticket to get my family up out of here his value was two total different things listen god gave you that vision god gave you that value he didn't give it to them to have the same vision and to have the same value it is your responsibility to live out the things god has created you to do it is your responsibility to activate and to go forward with the vision that god gave you even if they say no even if they say that is dumb even if they do not believe it it is still your responsibility and look at me today let me be a witness for you i've had people say that is dumb i've had people talk about me behind my back but it's paying my bills today some of the things that can get you out of debt are some of the things that you could be holding down that you could be pushed down in here in your gut because you're scared to bring it out because the world because people are saying i wouldn't do it and let me be here let me be the first person to tell you you should do it and i'ma be honest with you i may not even see your vision i may not even agree with what you're doing but it's not my responsibility to see it it's my responsibility to encourage you to do the things that you believe you were created to do and from there it's between you and god and one thing i know about our god who i serve he only needs you to say yes and he'll work through you so once you start cutting your expenses and once you figure out what you're gonna do get a job start a side hustle y'all there's there's there's there's some things okay stop opening up more credit cards stop racking up debt here's the truth credit cards are not emergency funds credit cards are not safer than debit cards credit card points are not worth it i know y'all are going to kill me i know y'all going to be in the comments and y'all i'm like oh no oh no i got so many uh air miles like i could go to africa with these free air miles cool can you pay off your debt i can go to israel cool great what are you passing down tickets i can get a free cruise cool cool great can you pay cash to take your whole family on a cruise credit cards are not the way to go you guys okay here's the thing and we're going to end on this is do you need a credit score you see the world tells us that we need a score to be successful i remember walking into a high school and i asked this question do you believe you need a credit score to be financially successful in the world and 80 percent of the kids raised their hand and it bothered me then i remember going to a college and i was shocked i said hey um raise your hand if you believe you need a credit score to be successful financially maybe only 20 of the kids in this particular school which was a christian private school raised their hand here's the truth we don't need a credit score to be successful in america let's break it down can you get a mortgage without a credit score yes you can you can get a mortgage through manual underwriting um and manual underwriting is uh is a lender who will look through your assets and income to determine if you can truly afford a mortgage most people are approved in a few days to a week and no credit really is involved now they are going to pull your credit report to make sure that there's nothing crazy on there but let's just say that you know uh you're like me it's like i do have a technically score but i don't have any open trade lines outside of my mortgage right and so what people would do um is they would actually look at it all right cool anthony can you provide us with you know the last few months of your rent if i didn't have a mortgage or hey can you provide us the last few uh six months of your electricity bill utilities bill was it paid before due date um you know there if there is there's even a way now and i'm gonna do some more research on this uh but there is a way now to where you can honestly now report your rent to your credit report so that way you don't have to have proof of it you can actually go to like rent.com or something like that i'm gonna do some more research on it and come back and teach on that you know but you can actually now have your rent reported to your credit report if you know you want to purchase a home you can actually now start having your utilities reported to your credit report so there's a way to start preparing yourself you know for getting a mortgage that way without racking up any debt and what it simply does it doesn't really impact your score but it does show history and no matter what whether it's on your credit report or rather you are uh it's not on your credit report if this is your first time purchasing a mortgage they're gonna ask you to print off the last year or two years of your rent history um and just prove to them that you were on on time paying your rent all right so yes you can get a mortgage without a credit score it is called manual underwriting there are several companies out there that do it um the company that does all of my mortgages his church here mortgage uh learned about them when i was with dave ramsey a phenomenal company they're in pretty much every major state and they are a solid group of people and what i like about them too is it's not even just about the manual underwriting right churchill will give you a certified pre-approval pretty much it's almost like hey we actually already had our our underwriter look at this so there shouldn't be any major issues that come up when it's come to time to go to official underwriting because this approval came from our manual underwriter so you're going to really pretty much be out there shopping um and you're going to be in good hands because it's like hey you had an actual human being look at your information and say yeah long as they just confirm everything they're solid and i like that okay so that's number one you do not need um a credit score to get a mortgage and and trust me okay you don't want to buy a house you can't afford and here's one thing i don't like i do not like about other banks sometimes is that when a computer approves you and then it goes to manual when it goes to underwriting man they'll approve you for more housing you can actually afford i remember the very first time i got um i got a pre-approval from my actual bank bank and they approved me for close to like 48 of my net pay i was like 48 good gosh i mean they approved me for a lot of money and then it lays out well we can we can go up to 50 if you want and she didn't say 50 she said it's amount right but when i did the math that's 50 of my net pay i said no i don't want that i don't want that i don't want 50 of my paycheck going towards my mortgage no i don't want that i don't want that one of the things i teach is hey you want to keep your expenses at 25 keep your home expenses to 25 and churchill is very big at that all right so that's number one number two you don't need credit to rent an apartment i called five different credit uh not credit i called five different apartment complexes and i'm gonna drop that information that video in the show description or better yet i'm gonna put it right there right and i want you to go back and watch it because this one right here um i called five of them all of them said no you don't have to have a credit score to rent here if you do not have a credit score and no history of payments at all we may require one of them said we may require a cosigner the other four said we may just require extra deposit like 250 bucks for one month worth of rent and that's fine because what do i teach you're going to have at least six months of emergencies so that's fine that's fine you get that back towards the end um of you know when you leave and you go purchase your home that's fine that is okay all right here's another one number three is you can't get a job without a credit score bad credit let me be real with you bad credit may keep you from some opportunities like joining the military but little to no credit history won't be counted against you i've i've literally talked to recruiters i've literally talked to government workers they're like no man if you come to us with no credit with no debt we're not going to penalize you for not having any debt okay now we may question it because the most of the people in america if we pull your credit up and you have no score nothing active on there we may be like yo is this really your social security number we will probably ask you some clarifying questions but if you come to us with no debt we're not going to say you can't get a job because you're debt-free no no now if you come to us with a 480 credit score 500 credit score and you're drowning in 200 000 in debt and we don't see you striving towards that yeah you probably won't get a job yeah you probably you probably can't work for the government why because they believe in they want peace as much as possible they don't want bill collectors calling them they don't want you trying to figure out how to maneuver things around to get more money so you can go back and pay a debtors like they want people to come to the government come in the military and be peaceful so if you go to them with no debt they're not going to penalize you all right that should encourage you honestly if you are drowning in debt right now you want to get to the government and work from the military i should encourage you to get out of debt it should encourage you to pay off the credit card it should encourage you to avoid debt all right you see if you focus on paying off your debt without opening up new accounts your score will not matter bottom line and once you're out of debt you can focus on saving money and using these other messes to buy rent or advance in your career but if you got bad credit feel free to feel free to follow my boost your score advice but if you truly want to build wealth if you truly want to be in the minority space if you truly want to be different watch this and the only way you could be different is by making a difference and making a difference in your life and your kids life and your family life that i want you to shift your mindset to stop using credit cards and focus on building true wealth through savings through investment through real estate through starting a business through living below your means through avoiding racking up debt so in today's show you got an option do you want to build a score if so i'm not your guy y'all can stop asking me that another option is do you want to do you want to pay off your debt do you want to position yourself to where you can build true and lasting wealth do you want to position yourself to where you can build a foundation that your kids and your kids kids can live off of and grow and mature and evolve do you want to wake up in financial freedom in in financial peace if that's you i'm your guy if that's you i'm here with you and we're going to stay on this journey together because i don't want to be just a great creative i want to own what i create and i want to pass down what i create to my kids and not only do i just want to pass down the physical umness of when it comes to money i want to pass down the knowledge and the wisdom with the legacy so that way when they get the legacy they have the knowledge they have the wisdom to grow if i leave them with 20 million dollars i want my kids to grow that 20 million to 50 million and when they pass down that legacy to their kids they're going to pass down the 50 million plus the knowledge and the wisdom to turn that 50 million into 100 million and when they get that 100 million with my great great-great-grandkids at that time they'll take that money i wouldn't see it grow and you know what i'm gonna keep it a buck that's how we change eventually change the wealth gap with the black and whites in the world is we have to start shifting how we look at things we have to start becoming owners we have to really start thinking differently and start setting our kids up so we can change and shift the wealth gap and we can't do that if we're drowning in debt and so let's end the show with today scripture and with today's affirmation is romans chapter 13 verse 8. it says let no debt let no debt no debt remain outstanding except the continuing debt to love another the continuing debt to love each other not the debt that we pay them but the debt we owe to each other and that is to love each other so today's affirmation we repeat it five times if you're watching me live or if you're watching this on youtube you're gonna type uh type it in the comments if you're driving in your car you're gonna repeat this live with me five times today's affirmation i'm not stopping until i'm the best i can be and i'm wealthy today's affirmation i'm not stopping until i am the best i can be from my wife from my husband for my kids for my family for my friends for the kingdom for the community for the culture and and until i'm wealthy type it say it i'm not stopping until i'm the best i can be and until i am wealthy that's what we do right here at the table my name is anthony o'neill appreciate y'all welcome with your boy i'll see y'all next show peace out [Music] you

Channel: The Table With AO

Views: 50,711

Keywords: anthony oneal, anthony oneal debt free degree, anthony oneal student loans, money, budget, personal finance, debt free, how to budget, debt, how to get out of debt, african American, hiphop, EYL, Dave Ramsey, how to increase credit score, build wealth, what is a credit score, how credit works, low or bad credit, 2022 money moves, credit card debt, debt free journey, building black wealth, financial education, earn your leisure, minority mindset, grant cardone

Id: I_QR3KAEsoE

Length: 68min 54sec (4134 seconds)

Published: Mon Feb 21 2022