Inside The Vault: How Using Credit Can Help You Build Up Wealth with Dion Coopwood

did you know that 7 out of 10 credit reports have an error on them many people have bad credit and believe that it's their fault that their credit is the way it is and that the responsibility is on them to actually fix it but what if i told you that the laws actually work in your favor and if you understand the laws then you can credit your way to wealth that's a bar listen our next guest is going to give you everything you need to know to get excellent credit in no time the right way the ethical way the way that's going to help you build wealth for generations to come let's get it hey wait wait wait i know you want to watch this next video but listen if you are an entrepreneur business coach business consultant or a small business owner who has a story and wants to learn how to create multiple streams of income from your story i need you to text me right now my book to 646-687-4152 that is my personal number i have been an author for over 12 years i've written 10 books four of them have been best sellers and i've sold over a hundred thousand books but i've also helped a lot of my clients take their expertise and put it into a story then create multiple streams of income from that so i want to help you do the same thing so text my book to 646-687-4152 all right let's go back to the video pay attention and listen to me bout to teach class inside the boat my man asked so get [Music] and see black millionaires all yeah oh yeah come inside the boat and see black millionaires oh yeah oh yeah you won't ask you can catch it right here in the fall all right josh so welcome to another awesome episode of inside the vault with ash cash the number one financial literacy show that's gonna help you create the life that you want to help you live in abundance and create that six or seven figure business and generational wealth today we have a powerful show for you because when you understand how money works when you understand wealth when you understand how credit can help you build wealth for generations then you will know why you need to watch this episode more than once share it with your friends share with your mom and them your sister them all of them we got my guy dion in the building good bro my g i you man i'm all good i can't complain yo man um i'm excited about this show because you know i i've i've been a financial educator for over a decade um have been beating the drum on you know how credit can help you build wealth um and you you know you you got a a a methodology a new methodology that even for me as a seasoned financial educator when you told i would it blew my mind and so y'all yo listen i promise y'all i'm not i'm not hyping it up i promise you when he dropped this gym y'all gonna go crazy y'all gonna be like yo where has dion been all my life but before we even get on there who is dionne cooper man so dionne uh man i'm a mindset financial literacy uh coach and i just help people unlock their six-figure year with you know coaching for me and just helping them tap into the right mindset and understand the financial literacy so that way they can take themselves to the next level uh born and raised in the south side of chicago shout out to my chicago people out there or even my gary and the other people out there right right um just shout out to everybody from the south side of chicago because growing up in chicago we understand that it wasn't easy um you know life just necessarily wasn't fair i grew up in a broken home you know didn't have you know my dad no relationship there probably met about four or five times to be honest with your ass and uh i just was the type of individual that i wasn't going loud that situation or that circumstance you know stopped me from being able to achieve the level of success that i felt like i deserved within me as an individual right and so man i just added that i was going to give life all i got because i deserved a lot you know and so with that being said now i fast forward my life even though i didn't have a relationship with a man growing up and somebody to show me the way you know i said you know what i'm going loud that situation to really motivate and inspire me to be the best father figure to be the best you know individual that i can't be to my family so now you know mary man yes um three kids and uh taking care of my mom at the exact same time and so life has been good and as you always say life has been abundant so that's who i am and that's where i come from brother that's me yeah yeah yeah and i and i i love you know i love your energy love your enthusiasm love your story um because i feel like a lot of people who grow up in similar situations um you know they give up they don't have that further that fortitude uh to have them keep going like like what was it in you that said yo i gotta yo i gotta push past this though like i'm like i'm not gonna be a uh you know a a victim of my circumstance yeah you know to be honest man i think it was the way my mom uh raised me yeah she always raised me in a church you know taught me to be a believer and so just those foundational principles you know as a child growing up it stuck with me it stuck with me i said you know as long as i can believe and i can achieve as long as i can see it i can achieve it i can be it you know what i mean and so i just like you know what i'm going to keep believing i'm going to stay motivated i'm going to stay inspired and the times when people didn't believe me they gave up on me you know me i was like no i'm going to keep pushing yeah i'm going to keep going and so here i am i'm like you know what it's going to be good it's going to be all good right so i just i just stay to believe it i think that that's the biggest piece that means a lot of people are missing is that they don't tap into that foundation right i think a lot of a lot of life is really about the fundamentals yeah and we are taught a lot of fundamentals as we're growing up and we forget some of those things that we're taught from our mom and people that raised us or who taught us to do things the right way and we kind of like you said we we allow people to sway us we allow people to convince us to not have that right mindset to keep going and just continue to stay motivated and inspired and so for me i'm like i'm gonna keep those principles in intact that mom's taught me and you know it carried a lot of weight you know what i mean yeah and so and so you know i'm a hoop are you a hooper right yeah yeah um i mean i didn't play d1 though you played d1 yeah um talk to us a little bit about the parallels between the discipline that that basketball professionals you know sports in general teaches you and being successful as an entrepreneur in business yeah those two really go hand in hand the reason why is because me playing basketball it taught me one principle that everybody needs you got to be coachable yeah like you got to be coachable yeah and so that principle alone by you know when a coach say run a play i got to run a play otherwise i got sit down and i can't enjoy what it is that i'm good at doing you know what i mean and so you know me growing up and having wait hold on don't miss that no that's a bar look at the camera say that again say that again that's the bar yeah like that that principle you know of playing basketball you know and growing up and i i mean i'm time i had coach out to coach out to coach and i remained coachable you know and so just being coachable and having that principle you know growing up in life that's the piece that allowed me to stay in the game and run the play because when you can be coachable i mean it's like your lifestyle is limitless because when you got people in your life that has you know played the game most page most coaches just played the game most coaches have played the game and so now that they can be a coach they can actually teach you how to run the plays that allow them to be successful and win because most coaches are winners yeah like if you look at the coaches around the nba college and things of that nature most of those individuals have one in the game of life in the game of basketball and so all they're doing is they're giving back to the individuals who are now playing now and who eventually are going to be coaches so if you want to you know start up as a player and you know make great money and you know do things whether it be basketball whether it be rapper entrepreneur as long as you can be coachable ash this is what i'm going to tell you if you could be coachable just in those foundational principles of life you could go anywhere because again most coaches was players you can go from a player to a coach you can go for from a coach to be an owner because as you become a coach and you're actually successful there you get to sit in the sky box man you get to watch the game from where it's played at now so people got to understand that when you when you're looking to get into something if you could be coachable you can go a long way yo you i love that you said that because i think that a lot of times people are trying to figure out what others have already figured out to try to do it differently yeah and it doesn't make sense right and you know the the the number one uh thing that i've seen is that it's always the broke people yeah who are not willing number one to pay yeah right to pay to be coached um it's always the broke people who um who think things are scams who are not willing to you know invest in themselves but it's the people that's getting to it you know what i'm saying who are willing to invest in themselves right so like you know you know you and i right we we met through neo's mastermind like right yeah and so when i when i when i think of of you know neil's mastermind that's a pretty penny that you know yeah to to you know to to join into the mastermind but the truth of the matter is that you know once you are in these spaces not only have you now qualified yourself to be around other movers and shakers right yes you know you know you know when you think about uh what what hole said whole said meet me at the at the table the one that starts at g up yeah yeah that way no fraud willies yeah silly yeah gambling area right and so for y'all who don't understand what he's saying he's saying yo i don't want to gamble with the dudes who are who are gambling they re-up or gambling money that they don't have yo meet me at the table the one that starts a g up a thousand or better yeah right because once once i'm at that table i know that everybody else yeah yeah is willing to bet on themselves right so how how important is i mean you talked about being coachable but yeah how important is mentorship even when you reach a certain level of success how important is ongoing mentorship you said something that hit me you said you talked about paying how we had to pay for the mentorship right with neo the the concept and neo talks about this all the time those who don't pay they don't pay attention that's and that's true like you know i i got family members that come to me and they look at my success and they say well man can you mentor me and i tell them the price yeah and they they look at me and it's disrespectful to me because i understand they don't understand that if i gave you my mentorship for free and i spent all day with you like i do my mentors right you're not gonna pay attention because you didn't pay nothing but if i said hey if i mentor you like how neal said yo i'll mentor you guys but here's the cost we looked at the price tag and we didn't we didn't question it because we understood mentorship so when somebody had to look at something and say well if this this may be my last so if i spend my last on mentorship then i got to pay attention because i need to get a return on my investment so when you pay you pay attention right and see you talked about you know mentorship and people not understanding the value and people look at it as a scam well scamf to me still stands but still confused about money they confused they'll understand how money works they don't get it because you know i paid to be in neo's mentorship program right and it's like the the return on investment i get i'm not going to talk numbers but it's silly yeah it don't even make any sense yeah but i knew my value and i knew my worth and i knew neo was that i knew his work because to me price is on the issue in the absence of value i knew that i knew that neo was valuable i watched him i looked at the receipts i looked at the track record i said he's where i want to go so this is what mentorship really means to me and i talk about this all the time ass but people i think can still go over their head like luggage they don't get it so this is what mentorship means to me ash if you would like that chicago slick talk yeah i caught all of it pick up what i put down let's go look so my thing is this if ash is going to travel right now you can't take a plane you got to go four states over you're probably going to use something like a navigation or gps or something right okay cool if you get on a if you get on a plane if the flight of t the flight attendant and the coal pilot and the pilot they probably are connected because they know we got to go from here to here even though it's a plane we still gonna use navigation right why do we use navigation as why do we why do we use navigation to go from where we get to where we're trying to go why because we we need direction we we want the easiest way the fastest route to get to there as you just explained mentorship people don't understand when you're when you're at point a and you're trying to get to point b you got to tap into a mentor who has been where you at yeah and they currently are where you trying to go and they gonna get you there like you just said the gps get you there the fastest they get you they're the safest it's i mean it's the best it's the best thing that you can like mentorship is like a cheat code to life yeah so when i knew i said hello when i tap into neo i'm going i'm going to pay whatever it costs to be the boss i'm going to pay because i need somebody to navigate me from point a to point b that's my gps system so everybody got to understand and know that a mentor is just like a gps system it's nothing short of it so we if we trust the gps system to get us from point a to point b the safest the most efficient and the most cost efficient why don't you look at a mentor the same way so that's how i look at mentorship i love that and so so talk to us about your mentorship program right demand a decade dominate the decade dominate the decade talk to us about that well see what i do is i teach people um a lot of concepts in regards to financial literacy similar to yourself but i teach everything underneath the sun personal credit business credit business funding trade lines manufacture spending i mean i'm teaching my mentees the concept and the way of life in regards to like you said if you're not tapped into credit then you not you can't possibly type into wealth yeah and i i understand that people that are living with bad credit they're putting themselves in a situation where every single day they're making money making decisions and it's costing them because everything that we do is normally costing us from an interest rate perspective you know i mean two of our biggest purchases in life is automobile that's expensive yeah and that and that depreciates with value right and then you got a house which appreciates with value but your house and your car is one of our biggest expenses in life and it costs us money but people not understanding that if you got bad credit you're gonna pay ten times more than the person for good credit then when you go in there with bad credit they like yo your credit is bad you got a bad interest rate we want money down like they they sticking it to you whether you having good credit and you put yourself in a good position this is what i'm teaching my mentees because the reality is that nine out of 10 people don't understand financial they don't have the basics and the understanding of the concepts of how money works yeah and financial literacy is big in industry because ain't no school's really teaching no the kids ain't learning in this school you ain't learning in a university and so they're teaching stuff that we can't really apply when we come out yeah you know we i tell my mentees all the time the investment that you just made into my mentorship program is gonna be the best for you and they say well make it make sense and they already understand it because obviously you gotta have the right mindset to make that type of investment but i tell them i say listen you guys are not gonna spend four years with me you're not gonna give me a hundred grand and you're not gonna come up out of here and not make no money yeah that's what that's normally what a university does to people you there for four years yeah you to gave them a hundred grand and you graduated with a degree that you can't even really apply you know what i mean you at walmart and walgreens you're trying to figure it out because life said here's the bills and you now you're a mama you're a dead you're a parent and you got real bills and real life is happening but then you get into a mentorship program like mine yours neos people that's out here that i would consider what's called entrepreneurs entrepreneur educators and we're giving people the game because we we've done it we we've had failures we've had successes and we put together a system that works for you systems stand for save yourself some time energy and money and we're giving them a system so and dominate the decade you've got a system that you're able to plug yourself into and you give me 30 to 90 days with you yeah and i'm showing you how to literally come up out of the program and you can make you you want five figures a month six figures a month it's up to you because you can't just come in the program and be note takers you got to come in and be action takers too i love that way hold on i know you're watching this video but joe my god carter has a challenge that i need you to tap into talk about the challenge yo yo everybody talk about making the back i want to help you keep the bag from my tax free challenge you go spend five days with me and learn how to live tax free i'm teaching you how to write up your travel your cars your clothes and live the tax free life to keep the bag you know we got to keep the bag right you got to keep the bag to get your mind and your money right tap in five days with my guy let's go let's go back to the show yo too much heat listen i told so so you blew my mind we was talking behind the scenes and you blew my mind when you talked about this new credit system yeah that you are implementing you're helping others implement called metro2 yep yo yo yo listen tick before we get here get a piece of paper get a pen write this down yeah cause metro 2 is going to change your life yep yeah talk to us bro got you yeah so most people when they're going through the credit repair process um you know they're doing what's called factual dispute and it's and it works and you get results but what i end up finding out is that um when i started to get into the industry i was like it's got to be another way and what i found out it was that it was another way and you said factual dispute that's your dispute factual dispute is where individual either says that the accounts on a consumer credit profile do or don't belong to they don't assume no responsibility or they say that the accounts on the credit profile is probably not factual has some inaccuracies or or misguided or inappropriate information and maybe there's really no true ownership and so i don't have to own it as long as i don't stay ownership then based upon factual disputing and saying that these items don't belong to me i can get it removed right but a lot of times what end up happening is and i found out this the hard way when i first got into the industry that it's a lot of back and forth right and so even though that's just the normal way of doing it and that's still that's the only one legal way in order to properly repair a person's credit when you take that national credit exam you learn that you they say hey listen what is the only one legal way it's called factual dispute but what people don't know is again information will change your financial situation i i was educated on a concept called metro 2 and what metro 2 is it's a concept of where uh you know the the consumer has a better chance at getting items removed and deleted off their consumer credit profile because what happens is is uh the the credit bureaus they put together this compliance law and the compliance law back in 1997 stated that if a a item on a consumer credit profile does not meet certain standards it's not ethically right morally right or legally right based upon how it should be reported based upon compliance then it can't be reported so see as when we send in letters to the credit bill we're thinking that somebody's sitting there and they're emotional when they reading these letters right ain't nobody not doing that you gotta think there's millions of letters that are being sent there every single day every single week so when the letter come in somebody mainly opens the letter and they feed it into this machine called e oscar and so metro to compliance and people could google this google what's iasco google what's metro too metro 2 is the compliance standard that e oscar was was was developed by so when you feed a letter to e oscar it's just a web-based coding machine so always looking for specific words specific letters of specific coding that is going by to determine whether an account can stay on a consumer credit profile or got to be deleted so when you feed that letter and that's a metro to compliant letter because the machine is going to say delete delete delete delete because it's not compliant based upon my standard as a machine so ain't no point of sending in a letter saying a dog ate my homework i lost my job i can't pay my bills that's not gonna work you need to send in a web-based compliant letter that's gonna get the job done so what i'm teaching my mentees is i'm giving them an actual system i'm giving them an actual system and the system's going to be in the book that you know obviously would be in the links in here but that's i get them an actual system that literally does all the work for them though they ain't got to worry about how to put together the letter because most people they come and they say well i'm gonna put together these others i'm gonna get these you know items removed off my credit profile the reality is that i give them an actual system that all they gotta do is upload their credit report it's gonna identify all of the negative items all you gotta do is hit generate items to be deleted it's going to generate a letter all you got to do is just mail it off it's gone and even the system that i give to people you ain't got to mail off the letters if you don't want to you can hit a button and it'll mail your letters off too this thing is crazy all right and so and so and so just to unpack that a little bit right so you know you know i stated earlier that seven out of ten credit reports have mistakes on them right um and so a lot of you you mentioned factual uh reporting where if you know you know people are looking for those errors and kind of using those to get you know stuff removed off their credit report right but this new system right metro 2 is literally breaking down sort of like the the com the way that the credit bureaus uh want things to be reported and if they're not reported in the way that it's supposed to be reported whether it's right or wrong correct right whether it's right or wrong if it's not reported in a specific way yeah then it has to be removed yep so faction dispute just like you said we're talking about going first we talk about whether the items are made or not based upon factual nature of the account inaccuracies maybe the date is wrong or the amount is wrong we talk about arguing with the bureau yeah versus it's not compliant to be reported we're talking about it i see it there as reported i may or may not own the account i may not have responsibility of the account yeah maybe maybe not and i'm going to argue that i don't more than anything to get it based upon factual nature to count but over here we talking about that the account can't even it's a complaint to be reported so how can you we use if we fight fire with fire they made the rule i'm just teaching people the rule that they made to use it against them wow that's it wow and and how how important um you know because there's a lot of uh people who watch the show who you know work a 9-5 who are you know looking to uh either start a business to kind of get to that next level um how important is your personal credit as it relates to you know starting a business it's very vital because most people this is a misconception that i deal with a lot ash is that people come to me and they say hey i want to start a business i want to get business credit i want to get business funding but what they don't realize and i just want to help the people is that you got to have your personal credit in order because a lot of these financial institutions that you're going to to get your business started to get these startup loans and get their startup capital they're looking at ash as the individual to determine rather what's your personal credit history look like can we really trust you as the business owner to handle this 50 or 100 000 line of credit to go ahead and go start the business because you got to think most lines of credit or whether it's a credit card or line of credit these are unsecured lines of credit so that means that there's no collateral backing them so that means that if you go start an llc today and you go get a hundred thousand dollar line of credit tomorrow what's the likelihood of a person repaying and the things just don't work out right there's no likelihood right so what they do is they want the individual to pg or what's considered personally guaranteed that business in order to get that line of credit so they say if the business default on that line of credit as we're gonna come for you for the money we're gonna put this now on your credit report so that way you can pay us back so personal credit is is obviously is very important now you need to meet certain criteria and guidelines in order to make sure that you can actually support your business but i mean that's a whole nother story but just to ask you a question yeah personal credit is is huge yeah it's you and and how can somebody um like build wealth with credit right because i think that um when we think about credit i know majority of everyday people think about credit just from a standpoint of of buying the things that they want that they can't afford but they buy them now in advance right um but but you know myself as a financial educator knowing and understanding credit there are ways to build wealth with credit but if you could talk talk to our audience about those see again we wasn't taught this kind of stuff at the dinner table and so we don't understand how credit works we don't understand that we need to get our credit in order we need to go to the bank we need to leverage opm where we consider other people's money we need to learn how to leverage other people's money we need to go to the bank and be okay taking out a hundred thousand dollar line of credit and then once we take out that hundred thousand dollar line of credit i'm gonna say this because i don't wanna guide nobody in the wrong direction but we need to learn how to essentially have a game plan in order for that money i tell my mentees all the time don't go to the bank and get a line of credit or don't go get a credit card with zero percent api for 12 months if you don't have a 12-month game plan but the reality is that if you got a business plan where you know you're gonna go get some real estate you're gonna put some cars on touro you know you're gonna go do airbnb go get that line of credit stop trying to put yourself in a position where you're using your money you know trying to fund your dreams and trying to fund your business now you run out of cash and then now like that's ash cash you run out of cash right but then now you're in a situation where you can't keep your business going or your business has to get developed dissolved because you run out of money so essentially building wealth with credit is essential and people don't understand it because i mean i when i tell you i leverage i leverage credit all day i go get everything i want and gotta have and this is a concept that people understand this is how powerful credit is you can you can get approved for over a hundred thousand dollar line of credit before you can go make a hundred thousand dollars you know what i mean so while you're out here struggling trying to work your job day to day week to week month to month year to year and you're trying to save money you doing you're doing this thing backwards you're hustling but they say that again you said you could get approved yes say it one more time you get approved for a hundred thousand dollars in lines of credit before you can make a hundred thousand dollars right so if i if i could show you a way in less than 90 days to get a hundred thousand dollars in credit that you can now go take and start two or three businesses and create yourself some residualized income so now you take a hundred thousand from the bank you go let's just say you're gonna get a real estate property that's got you three thousand dollars cash flow coming in then you're gonna take another piece of that you start a touro fleet and now you got six thousand dollars coming in so now you you at a point where you got five to ten thousand dollars a month coming in and now the bank said hey yo on this hundred thousand dollar loan we stressed you out we gave you let's just say they gave you 82 months to pay it back something super small like a fifteen hundred dollar month no now you paying them back we good right we ain't tripping it's the same concept when we go bad car we don't get them forty fifty a hundred thousand dollars for the car when we go bad house we don't get them a hundred thousand two hundred thousand three hundred thousand for the house we say hey yo i wanna i wanna take a loan out and i want you to finance this house and i'll pay you back monthly it's the same thing when we start our business we need to go to the bank and ask the bank for 50 100 000 line of credit after we've gotten our personal credits together then we take those funds and we put that into our business and let the business generate us some money and we pay the back the bank back slowly but surely you know what i mean and so i know there's a mindset though right because a lot of people who may or may not understand personal credit um they carry over that same personal credit thought process into business credit but they're two separate animals can you talk a little bit about the differences between personal credit and business credit yeah so um essentially personal credit is everything that you go do that's considered a consumer credit transaction where a consumer transaction is where you go out and on your individual name you write down your name your social security number so that's a consumer transaction right when you why do you do things in your business a business transaction that's normally an ein number you know in your business and things that nature with your done in brass street and you got business credit you got personal credit so those two are two solely totally different different entities and people getting confused because again we're not taught these fundamentals when we start a business when we're coming into things because we have our regular bank account we don't have a business bank account and so then we start our business we just probably got an ein and we don't have it really incorporated we don't have our duns number together we don't really have a lot of these fundamental principles to get in place so what ends up happening here ash is that we go out and we start a business and the money is coming in and it's going into our personal bank account and we're just you using money and spending money not realizing that there's a totally different ball game because personal credit business credit two totally different entities they ain't going together they shouldn't go together but we got to mess together like glue when you got to divorce your business you got to divorce yourself for your business yo have his own business bank account where money is going in there you pay yourself as an llc to the individual and now you can you know do your taxes the game gets crazy but i want to help people understand like you said it's the difference between personal credit and business credit well business credit none of that stuff reports your personal credit profile if you're doing it the right way you know unless you're a sole proprietor if you're running a real llc you're running a real business the right way that it's supposed to be ran then you got lines of credit some like me me and you i'm pretty sure you got mx platinum everything we do on that mx business platinum it's all over there so now what ends up happening just like when i just moved to atlanta i go to buy a house they looking at me like all they see is income they see no liabilities because they like they you don't got no cars i don't have no cars my business got cars i don't have cars now that's four cars in the driveway but ain't in my name i have no ownership but look hole said it's the concept of owning nothing but controlling everything yeah i don't own nothing yeah it's nothing you could sue me assume if you want to exactly you ain't getting that fast it's all in the business name x you know what i mean max nah that's 100 because i i tell you you know i got i got a i got a nice car i don't have a nice car i don't know right there you go and and you know you know um that's the other you know you talked about like you know amex right yeah i charge everything on everything right and um you know it's such a blessing though to be able to live off of points though yeah right and i think that a lot of times people don't realize like i like i don't i don't i cut my debit card up i'm not charging nothing i don't know what that is i don't know what that is right like and a lot of people believe like yo you know there's there's people out here that convince you to like never use credit um and you missing out right like i use my points to fly i fly i fly good yeah you know what i'm saying i eat good you know what i'm saying dude i saw you on the plane i mean you know right but how how do you how do you you know like like like talk about that a little bit right like talk about um that concept of being able to live off a point yeah opposed to or like the like the reason why debit cards are the the worst thing you could do with the worst thing okay you could do with money and my in my estimation yep yep is spend your own money and use debit cards yeah using debit cards and there's no offense to nobody yeah but using debit cards that's a poverty mindset using credit cards that's a wealth mindset yeah because when we use our debit card we can't build credit yeah so why would i use my debit card if it's not gonna help me build credit it's called a credit score i need to build credit if everywhere i go these people are essentially judging me based upon my credit score if i use a debit card if i'm not building credit that doesn't make sense if i use a debit card and i lose my debit card and somebody started using my money that's my real hard earned money ass like why would i want to risk my money it doesn't make sense and then if i use my debit card like you just stated i'm not getting no cash back in the reward points so i'm not getting no no type of investment or no type of return on the investment of money that i'm spending on the debit card but if i use my credit card i'm protecting my money in the bank because if i lose my credit card that's state money it's not mine why do i care right i can sleep peacefully at night if i lose my credit card but that debit card ain't it ain't the same type of feeling it's like yo i'm having a panic attack right then if i use my credit card i'm building credit then as i'm building credit as i'm using credit and paying it off i'm building more credit then that's what i do every 90 days i asked the banker i said hey let me get a limited increase i've been using this card up i got some more shopping to do then they increased my limit which means that now my credit card utilization go down which my score goes up some more make it make sense right then every time i use this american express business platinum card and i ain't going to get it to the parks because i mean i'm walking straight through the airport i'm sitting in an executive lounge eating good drinking good it's all free on american express i appreciate you right but i'm getting cash back every time i spend every single dollar on that card so i teach a concept to my mentees called manufacturer spending right and so that's the concept where i teach them how to create passive income as long as they got a credit card that's got cash back and reward points you see i'm saying so you talking about the points and we talking about points we talk about teaching people how to how to go out and literally have a concept to where you're spending money cause we're gonna spend money anyway anyway we're gonna spend it anyway yeah but along with the money that you're gonna spend anyway teaching you another concept that you can use that you can actually create passive income from so now we got we got to revolving a bank of money that's coming in so you know that it just it just makes sense people don't understand they don't know because again this is education you know again like like neil always tell me our biggest expensive life is what we don't know and so if we don't don't we don't know we can't grow it that's it it's all good if you are an entrepreneur business coach or small business owner who wants to get more visibility for your product or service then consider advertising on inside the vault we have been seen and heard over two million times and as the show continues to grow your ad would be embedded in our episodes forever so the return on investments on advertising with us is unmeasurable and invaluable if you're interested in this once in a lifetime opportunity then text podcast to 646-687-4152 [Music] or email us at info insidethevaultshow.com allow your business to get the visibility that it deserves and it's so crazy because think about this concept right and so anybody who's who's listening think about this concept um you're gonna spend money on groceries you're gonna spend money on gas you're going to do laundry or whatever the case may be um you know you know both my kids go to private school yeah i i i charge my my kids tuition or private school i charge my kids tuition on my credit card i do gas or credit i do everything on anything that they allow me to do credit i'm doing credit because the truth of the matter is that i'm going to have to pay for these things anyway and so anybody who's hearing to say this we're not saying to use credit cards uh irresponsible correct correct right and to and to and to buy things that you don't need don't go i mean if you're gonna buy the clothes anyway then do it but don't don't go and buy you know buy stuff that you don't need no use the credit card for the things you you were going to spend money on anyway that money that's in that bank account that she was going to spend it use that to pay off the credit card and then now once you use it to pay off the credit card if you have a good you know you know you know credit card and i mean i know we keep saying amex but there's others out there because amex ain't giving us no checks right so we just keep saying amex do it's right right but you know with that this you know you got you got you know you got i don't even say all day right you got other cards out there that give you points yeah um and then when you pick when you pay it back now all of a sudden you get points from those and then now the money that you was gonna you know spend anyway now has given you money and now you could live passively yeah you know what i'm saying so i i love that and so right now somebody has bad credit they're trying to get their credit you know to to the right space what's the first thing they do they need to get they need to get with a credit repair expert yeah immediately yeah they have to because like i just said they're they're in a situation to where every decision that they're making on a day-to-day basis is costing them money yeah like we can't like we're trying to send kids to college if that's what they choose to do we're trying to save money we're trying to eradicate and eliminate debt again if you have good credit and you can get the cash back reward points like we just talked about if you're going to spend the money anyway that means that if you're spending the money and you're getting these points back you could cash those in for let's just say gift cards right and you can take them gift cards and now you can pay off for a utility bill or you can eliminate some debt that you may have had sitting there or you may you maybe owe somebody you made some bad decisions as a as a younger individual now you need to you need to pay these people back it's just a situation to where anybody has bad credit they need to start with credit repair first they need to start their first and as they build they need to get with somebody too that can actually educate them because if not if they don't have that mindset to understand it okay i made these decisions uh how can i avoid them and not make them again they need somebody that's going to educate them through the process of understanding that this is how you get into this situation this is how we're going to get you out of it and then these are the things that you need to do on a going forward basis so that way you can stay away from making these costly decisions yeah yeah you said you said something about like mindset and making decisions um how do you help somebody change the mindset that like credit card is not free money right and because i mean i put myself on blast when i first started getting credit i was i was thinking it's free money right and so i'm overspending because oh it's just a credit card but now when that bill come in and now you can't pay you know what i'm saying so how do you change that mindset so that people you know view credit in the right way yeah i think that um mindset has to be changed and altered based upon coaching i think that again if you get with somebody that can actually coach you through understanding how we got in this position and how we're gonna get out of it i think that that's the piece that's critical um because you again like you said most people they'll hear this and they'll say well they're telling me to go get a credit card and they're telling me to just use the money in the credit card that's not what we're saying what we're saying is that based upon your spending habits spend the money on the credit card and then take the money that's in the bank and pay it back we're not saying like maybe like i did i'm gonna be honest i did i made bad decisions when i first got introduced to credit because there was no real foundational education in regards to the introductory credit for me and so when i got it i just i just spent i didn't know what it was i didn't know how it worked right and so then now you're in a situation where if you don't understand payment cycle if you don't understand due date now your payment cycle is jacked up you're not paying stuff back on time now you got missed payments now your credit score is taking a hit everybody's looking at you like yo you got all these missed payments we don't want to do business with you right so again a person just has to really be coached on the understanding of how credit works in itself so that way they can have the proper mindset on a going-forward basis in order to navigate and handle credit the right way yeah yeah and so so so talk to me right you know dion is now you know at a space where you know grew up not knowing who his dad was had to figure things out himself uh you know now he's a you know you know you know you know multi seven-figure earner you know you know parent husband doing the right thing uh if dion could go back to his 18 year old self what what what advice is is is dion today giving young dion that's a good question yeah normally man um the enemy is the enemy oh yeah i mean and so the enemy is the enemy yeah yeah i would have i would have probably educated myself more on credit to be honest i would have educated myself more on financial literacy and understanding of how money really works i would have educated myself more on business um i would have i would have honestly um probably changed some things in regards to my environment i think that the biggest piece on me getting to where i'm at is the fact that i i made a lot of sacrifices ash in regards to my environment you know we you know we always talk about audit in our circle um the people that i grew up with now um and i and i learned this later in life it's not the same people that i hang with i mean we talk about 20 and 30 year friends that they're not here and they're not here because i just had i had a moment with myself that i couldn't i could no longer stay in those type of environments to talk about the same stuff and wake up every day and chase the same you know unforgotten dreams they were just like you know what yo i want something totally different and so you know for me i was like you know what the whole time i realized it was on me it's been on me this whole time and so i just really had to make some different changes to get where i'm at and this is that's that's part of the reason why i just recently relocated to you know to the state of georgia because i said man i understand that there's power in proximity yeah and i know that if i change my environment it's going to help with i already have a strong mindset ain't nothing nobody can say to me that's going to throw me off like you could forget about it not even the wife that she know that right and we have in-depth conversations but you know i'm so focused you know on my goals and my dreams you can't talk me out of it but at the exact same time if i could go back and tell my 18 year old self something or anything it's just yo like like educate yourself on some of the stuff that you really didn't know that now i'm learning later in life it's kind of like the individuals out there that you know may be watching this they got bad credit they made some credit mistakes don't let don't let that like be a part of what you know determines your future like you got it right but the reality is that if you're hearing this and you're listening to this you got to put yourself in a position to where start educating yourself on some of the stuff that we're talking about and some of the concepts in regards to money and credit and financial literacy that we're bringing up because trust me it's it's it's going to come it's going to come to you sooner or later yeah we gotta we gotta deal with it at some point in time and so the 18 year old me i wish that you know i could have took ownership sooner yeah and i wish that i could have took you know just the understanding of how money works and financial literacy and credit uh that much more you know serious sooner than later yeah 100 i love that i love that and so talk to us a little bit about like some of the money moves you made right what would you say is the most um extravagant thing you've uh done with money oh man um when i uh last year i had my first 100k month and i i said i'm going by i ate and that just i mean to most people they're like yo that don't even make sense and to me it don't make sense because i know how money worked and i know that cards depreciate but it's just it was just a moment where it's like yo you deserve this you know like cause my wife she always my wife gets on me all the time she say why you don't ever spend none of your money she spends all the money you know what i'm saying but i don't like i just i don't join me yeah why are you on it and i'm like i'm trying to make sure the kids is good i wanna like i gotta take care of my babies like i didn't grow up privileged right you know like the way that my kids grow up like that brings me joy you know what i mean the way that my wife she gets to relax all day and chill and not have a worry and don't have to go to work that brings me joy you know so for me it just that was probably the most extravagant thing that i've done like literally in my whole life is when it bought a car that cost six figures i'm like yo i deserve this like let me go and get that and my wife was happy she thought it was you would have thought it was her car because i don't i don't do nothing i don't shop i don't really do a whole lot i'm like a basic guy like as long as i'm good as long as my family my kids is good i'm good yeah yeah me and so what would you say is the most impactful thing you've done with money the most impactful thing that i've done with money uh probably take the majority of money that i make and i'll reinvest it back into my business to mentor and coach and develop other individuals like i'm always just focused on what can i do next to motivate and inspire the next individual because i looked up to individuals and you know it's like i feel like i'm getting to a point to where people are looking at me yeah because they've always looked at me but it's now like you said now getting to like taking it to a whole nother level you know having hundreds of thousands of people looking at you and watching you and being motivated and inspired by you my thing is i want to see how i can help somebody so my thing is i take my money i'll take the money that i earn and i put it back into mentorship i put it back into coaching like i support another coach like like somebody like about like you come out with ebook i'm buying it and i'm gifting it to somebody i'm trying to make sure that i can give the most impact and bring the most value to the community as possible it's not about me it's about the people yeah so my thing is when i when i get ahold of money i'm trying to figure out how can i reinvest it to be impact with somebody so that way when i leave the people say that was a good guy yeah yeah that was a good guy and and honestly i think that you know uh people don't understand that the fastest way to get blessed is to bless others right and so so even even in that mindset you you're all not even almost you are guaranteeing that the blessings continue to circulate right because you don't you don't you don't get what you want yeah you get what you are yeah yeah if you're a blessing you'll get blessings yeah it's always a blessing to be a blessing and i think that that's like off the scene man you was talking about how we met and stuff right and it just kind of so happened that everything happened the way it's supposed to happen like i was i was i gravitated towards neal because i kind of saw myself in him you know god fearing and just you know being a family man and things of that nature i said that's like i like i like i aspire that right and so for me when i when me and you met it was through the neo connection and so when i i said man ash is a good he's grounded like he's got a good spirit about himself and so again it's just when you when you're blessed like i know when i know what somebody being a blessing and you that type of person and so that's why you know the the energy is just it's natural yeah i mean it's natural yeah yeah and i love that i love the eye so we're gonna do our lightning round and so what we do is we're inside the vault and so we take bank terms and we flip them okay you know for our audience for our insiders uh and so the first word we're gonna use is deposit slip right okay okay uh a deposit slip you walk into the bank you fill out the deposit slip and you're putting money inside of the bank yeah but here inside the vault a deposit slip is a money mistake a slip up right a money a money slip right what is the biggest deposit slip that you've made so far in your journey wow that's that's key so what's basically the biggest slip up that i've made i think um just really like just being naive to business partners and not really understanding you know not everybody is is for you you know and so if they not for you they may be against you and i just not really paying attention to signs and and understanding that again like i said that my environment is key yeah you know and like we don't understand and we think that we think that it's a joke i think that outside of that mistake is really understanding and looking at myself and saying yo like you are you are the go-to guy and you've been that guy for a while yeah like you you've been that guy for a while why won't you go outside of this environment or go outside of the circle that you currently like that you that you were talking to every single day and go find some hitters and some people that's really making some moves like yourself so for me i think that that was probably my biggest costly mistake is just staying in the same environment for a year after year because you know the like the most expensive thing is being in the same place you was last year and so for years and years i'm tr i'm like yeah i was like oh yeah cool i make a lot of money yeah everybody like oh you know but it wasn't really getting me nowhere yeah like if i'm not around like the ash cash or the nehemiah davises and the m500s and the alice like if i'm not surrounded by these people or if i'm not trying to chase after these people then what am i really doing yeah that's a mistake yeah big mistake yeah now i love that i love that all right word number two charge off right you know where to charge off is right yeah yeah but we go explain for the people you know charge off you borrow money for the bank you don't pay the money back the bank the bank's trying to get the money but eventually like you know what we're gonna charge this off uh but for us inside the ball a charge off is about you know what type of people or mindsets did you have to charge off in order to you know get to where you are right now oh we yeah i think we kind of touched on this a little bit uh but yeah like the mindset is just really um understanding that you know whatever you put your mind to you can do like it's really like you talk about abundance all of the time and i love it because that's really what it's all about like people need to understand that you know we were all made special and we all have a gift and we have to work within our gift the word say if you if if you make room for your gift like like if you make room for it it's going to make room for you you just have to really operate within your gift yeah and so for me i think for a long time because i've been in sales for a while yeah and being in sales i think that i was i'm like you know i'm good at this but it wasn't really my gift you know what i mean like it wasn't really my gift and just you know teaching people and coaching and motivating you know and inspiring other people and just really giving back and pouring value with other people that's really my gift yeah you know what i mean so that's that's that's what i would say yeah all right last but not least um atm right yeah uh atm you know automated telemachine you put your card in uh you get the money out you know you get the money out but for us atm means another teachable moment you dropped so many bars here today uh i need one more man i need you to look in that camera give us one more teachable moment what do you want our people to walk away with what you want them to know they're going to be like yo dion drops bars man give us a double teacher what i would definitely say is that um you know i'm here today with ash cash because i made a lot of sacrifices so my question would be to everybody is what are you willing to give up to go up that's my question um you got to be willing to sacrifice like i literally at the drop of a dime like i met nehemiah davis last year october and you know i told myself i was very serious about my future i was very serious about taking care of my family and really truly getting to that next level and he said well listen he said if you're really serious he said you need to be in that environment he said you need to go ahead and you need to relocate and come to georgia here we are six months later i'm here like i didn't i didn't i didn't question it i didn't i said i think that this is the path that i need to go down i had the conversation with you know the wife i told her what we were going to do and so we just really started to work in alignment with you know what it is that we wanted to do what our goal was which is to take the family relocate to georgia and i will tell you all this too as you're willing to give some things that be willing to sacrifice to get to that next level what i will say is this start telling everybody about it a lot of people keep the best things that potentially possibly could happen to you they keep it to themselves like i'm like i'm gonna if i tell as yo i'm gonna make i'm gonna make 20 million this month i gotta go i gotta write that thing down i gotta tell the family i gotta go tell ash cash about it too so when i decided that i was gonna relocate to georgia i said neil consider it done he said when you gonna do i told him what i was gonna do i did it before i was actually gonna do it i told him this year october and i ended up getting here i think this year april right i've been here like 30 days and he was like man you ain't you ain't you ain't you like you're not joking i said but i'm running to play so i told him i was gonna do it i wrote it down told the wife i started telling everybody i was moving to georgia and it was like when you leave i said as soon as possible started planning started putting everything together because most people man when they when they really want something they'd be they'd be afraid that it's too big they're not really going to accomplish it they don't want to tell nobody because they're afraid of embarrassment yeah i'm not i'm not that guy like i said yo i'm going to get here i'm going to do it this is what i'm going to do about and then before that actual day actually because i i got it done yeah you know so i just want to encourage everybody to be willing to sacrifice and we really need to give something up to go up it was uncomfortable for me to go from where i was used to i've been there 30 plus years to now be in a whole nother state yeah like i had to hit the reset button re-figured i ain't got no friends around no no family around like it's just me and the fam yeah intermediate family that's it right like this that's it if that ain't if that ain't uncomfortable i don't know what it is and people got to be willing to get you know be uncomfortable like you got to get uncomfortable to be comfortable to get where you're really trying to go so that's what i would say as just yeah that's it bro yo what are you willing to give up to go up that's the bar of the show dion dominate the decade um i know you got a gift for our people man like yeah talk to our insiders man so this is what i'm gonna do for everybody today i'm gonna give you guys a copy of my ebook it's called quick credit reference guy what this book does is it gives you the opportunity to understand how your personal credit profile needs to be structured so on a personal on the business how you gonna get approved for any and everything right instead of you know applying for stuff and get into the client it's also gonna show you how to build your actual business and build business credit so it's gonna teach you how to literally build a business from scratch start your llc the right way the actual place that you need to go to register your business everything is going to be inside of this book and it's going to teach you how to build business credit all you got to do is text free credit to 74121 text free credit to 74121 i'm gonna get you guys all that copy and it's just for ash cass having me on the show today i just wanna bless you know the community with that gift brother my brother i appreciate you listening yo insiders i'm telling you like i like i promise you i mean thing like i said man y'all gonna have to watch this over and over again a lot of gems have been dropped a lot of information you know he's from chicago so you talk fast so slowly but make sure y'all tapping with dr uh if they wanted to connect with you you know where can they follow you where can they find you yeah definitely so you guys can follow me on instagram at mr phenomenal power that's at mr dot phenomenal where spelled and power the web spell all one word you can find me on facebook at dion coop wood just my regular government name brother and that's where they can find me at brother brother i appreciate you you kept your word you said you gonna flame this up and kept your words this is fire we are closing out the vault another awesome episode make sure y'all visit our website insidethevaultshow.com follow us on all social media platforms at inside the vault matter of fact i need you to text the word insiders to 646-687-4152 we got something special for all of you insiders who are tapped in with us on a weekly basis we appreciate you we love you we thank you for sharing the word for reviewing the podcast for you know you know subscribing all that good stuff make sure you follow me uh at imash cash on all social media platform and i'm gonna see y'all next time in god's will same time same place inside the vault the greatest money mindset show on the planet all right y'all peace you won't ask you can catch it right here in the fall you

Channel: Earn Your Leisure

Views: 73,649

Keywords: Earn your leisure, EYL, inside the vault, inside the vault with ash cash, asset protection, protect your assets, protect assets, asset protection strategies, financial asset management systems collections, financial asset management systems, financial asset management systems inc, fams financial asset management systems, financial asset management systems sharonville, how to take care of our assets when we pass away, financial asset management systems inc fams

Id: rSHzmwKj95w

Length: 54min 33sec (3273 seconds)

Published: Fri Aug 12 2022