Sukkot 2021 | Finance 1 by Elder Billy Jackson | 9-18-2021

[Music] okay all right shalom everyone okay fantastic all right so looks like the countdown is going again we're in a countdown loop all right shalom everyone welcome to wednesday morning this is the the first day of of the classes that we're going to be doing and we're going to be starting off with elder billy jackson's going to be doing finance one and so we're going to bring him up here in a minute we do need a volunteer a parent to go up and help the katana a was it a where's b katan b go see stephanie in the back she got her hand up with her phone in her hand if we get a parent to go help an assist upstairs you got one nope all right you're all good all right fantastic okay so we got that taken care of awesome well i hope everybody's doing well this should be the last day of rain for us so we should hopefully be getting that done today [Applause] and so all although all in all it has not been raining all that hard when we've been going in and out of different things as much so for you know maybe one or twelve once or twice but it's really been pretty good we've done one sukkot where it rained i mean when i say rain i mean it poured every day for eight days i mean and we were in a place where we parked on grass and it was a muddy mess and people get oh it's just terrible so we're very blessed and it's very good okay so we're just gonna go ahead and have a couple of quick reminders so reminder number one and then you can spread the word because not everybody obviously is in the room here okay we the staff have met with the staff here and confirmed that all of the things that we put out there in the buffet you can eat i know people are getting rumors out there and spreading all kinds of nonsense if there's anything on the buffet that can that you are concerned with you should come see me okay because somebody went up to one of the don't just ask a person who's bringing trays of food out they don't know because some of you said to someone one of the staff members are these meatballs okay and they said what are they made out of she said beef and pork no they weren't they were beef but they probably are always beef and pork except now that we're here okay and i went and confirmed with the people that are in charge in the kitchen and they were beef all right and so the only thing that will be on the menu will be two breakfasts we'll have bacon on the menu and we will have separate for us turkey sausage or turkey something okay so they'll put something out there different for us but that's the only two times the entire time we're here that there'll be anything you can't eat on the buffets okay because they have found it easier to serve us the same then to serve everybody the same than to try to make separate things and keep it separate lines and everything else so you should be fine now can there be mistakes just like anywhere else that can be so if you do see something you have a question about i don't have a problem with that just understand that we've reviewed every item on the on the menu with their staff more than once okay and confirmed it even right before we got here that everything should be fine okay all right just want to clarify that because we had a little problem last night where some rumors started going around because somebody asked the wrong person okay all right so so the best thing to do is ask me and then you'll get the right answer or ask billy and we should be able to get that worked out okay because i promise you we've made every effort with them and they know they want to not mess this up for us because they we have we're already booked out here for the next couple of years they want us to be here i mean all right so um i'm not sure is marty back there okay marty do we have an in focus or something that where i talked about active versus you know passive commerce and those kind of things did we ever we never made one separate for that right okay at some point we'll record something or i'll just say something here just to help everybody remember what because it is shabbat or it's a holy day i want to make sure especially before we get to saturday do you understand how how are we here and how are we eating in the buffet and i'll explain to you how that works okay and i've done that before a lot of you've heard me do it but i just we didn't record it as a separate thing we could just point to which maybe we'll record something this time that we can then post somewhere okay with that being said i don't want to take up all of billy's time sir elder billy jackson [Laughter] good morning well you're here i'm very thankful that you're here uh and we're gonna start off this morning by talking about a subject oh turn it on hold on a second hold it tell us green right there it is so we're going to start off this morning talking about something everybody wants but most people don't want to talk about and that's your money i can't think of any other subject other than money and religion that covers every aspect of your life money is involved in every aspect of your life including your spiritual walk a lot of our spiritual walk and people that i talked to over the years in council the spiritual walls walk is jacked up because their finances is jacked up and so coming into this walk where we have three tithes i remember when i was back in the church trying to counsel people with just the one tithe coming into a walk where you have three ties and how to to deal with them became a concern for many people that i get to talk to so i have to coach them on how to lower their spending or increase their earning and or find a balance in between all right so we're going to talk about it a little bit before we talk about it how many of you seen rabbi's money mastery teaching awesome just about everybody in the room so the first thing i want to talk about is our mindset because a lot of people struggle when they walk into my office full of tears hope is gone and only to ask them you have a budget no did you write it out no well then how you how do you know where you are you don't have a plan our plan is our budget people walk into my office i want to start a business what does your budget look like at home if home isn't straight don't ever expect to go into business and be successful and if if you are i know several people that went in the business home jacked up went into business they're successful in their business once they start making money they give me a call i made money i don't know what to do with it i made a lot of money i don't know what to do with it so we got to have the appropriate and the correct mindset to understand where we are to get to where we want to go i mean all right so just want to read off a few statistics give you a little background of me and i think it's strange that when i talk to people about their money nobody has ever asked me if i have a degree if i have a certification they never ask me my experience all they want to know is can i help them isn't that crazy for everything else i mean our health our spiritual walk when it comes to people's money nobody has ever asked me actually when i came to tennessee i did have somebody ask me and uh they didn't have at the time any certifications that i thought appropriate to do what i was doing and i've been doing this since 2011. strangely enough it all started when i was pastoring a church and i looked at six figure earners that i knew of you know i was pastoring them but the offering bucket and we only did one offer offering bucket never grew we never had enough to pay our bills people weren't giving they were giving tokens that's what i called it they were given they were given yahweh tips according to our understanding i had a family that was a business owner the husband was making six figures the wife was making six figures and they weren't giving definitely not tithing and so i prayed because you know i teach you guys to pray you got a problem pray first so i prayed i was like at the time god in that walk i was like what is what is the problem i got six figure earners many of them six figure earners and the rest of them definitely making over 50 grand a year i was like why are we suffering and it was a combination i know now of the walk and their ability to give and be obedient in their faithfulness in their relationship but he said they haven't been taught they haven't been taught they haven't been talked correctly about money they haven't been taught correctly how to deal with money they haven't been taught correctly what money is for so i begin on my journey to figure it out and i believe it's something since 2011 until now has been very useful in this walk it's been very useful in my life after getting out of the police department actually while i was in the police department give you a little background so you'll know that i know what i'm talking about nobody ever asked that anyway so it doesn't matter but i just want to share with you while i was in the police department i was also moonlighting running a security business i've always been in some type of business on the side i've always had more than one job if you want to take notes i forgot to mention i got some handouts over here um i got some cards and some pins if you need to take notes hopefully you have something to take notes because i'll be talking about a lot of stuff um should i be watching the time marty so i know when my hour's up another 20 minutes okay [Laughter] so anyway i've been in retail management for a long time i've managed to supermarket i've managed uh goodwill i've managed payless i was a district leader with payless shoe stores and due to the walk i had to get out of retail but i've managed some multi-million dollar organizations from the bottom up growing businesses and making money for a lot of people i have have set up several businesses have been successful in several businesses and coming here into this walk with so many people and so many businesses i often time again look at what they're doing and where they are to see how i can help them to get to where they need to get to so i always talk to them first about the numbers you need to know your numbers if you're any of your business owners know many of you are you need to know your numbers without knowing your numbers you can not possibly know what goals you need to reach what numbers you need to hit to get to what you need to get to get to what you need to get to so back in 2017 the average household income in america just in the united states was about fifty nine thousand dollars average household income two thousand twenty census says is about sixty 62 843 is the average household income of that number eight out of ten houses in america are living paycheck to paycheck the average american house is living paycheck to paycheck eight out of ten that means if you look down your street eight out of the ten houses you see are living paycheck to paycheck which means if they miss one paycheck their whole finances are screwed up one paycheck could mess up their life 2017 it was 7 out of 10 pandemic and everything moved up to about 8 out of 10. houses are living paycheck to paycheck consumer debt in america 12.73 in 2017. now we're up to 14.88 trillion dollars in consumer debt what happens to people that make six figures six figures 40 of six figure earners are living paycheck to paycheck 40 the other 60 of 100 000 earners are worse off a lot of them can't make it without a paycheck so people ask me all the time how does that happen it happens because your inc your in your uh your income increases and so does your expense and your spending and so we miss it 73 of americans american households cannot afford a one thousand dollar emergency so if they can't live without one of their paychecks if they had a thousand dollar emergency most times is going to take up one of those paychecks so you're already in a bad place so how do we change the mindset to understand where we are to where we have to go i tell people initially when they come and sit with me you got one or two problems generally generally people have one or two problems they either have too much stuff or they have not enough money and in between there's a balance and we can figure that out together one-on-one a lot of people ask me you might see over there i do have a business called money fit coaching it's online and what i do is that's where i do the one-on-ones to help families get from where they are to where they need to be when you call me for accountability at the congregation because you guys know i worked there as well when you call me for that leadership i don't have time to go through your whole budget and spend hours working with you to figure out where you are and where we need to go so i have a business on the side that i do after i'm not working at the congregation which is never no i'm kidding i'm always working that i help you one-on-one and many of you have took advantage of that service there is a charge for that i believe as rabbi has taught me since i've been here what you need which is what i'm giving you now what you need is no cost for that but what you want to get to that goal to get to that dream to get to the place you want to get to there's a cost and we can talk about that later that's not the point just want to let you know i want people get confused like he's teaching the class he's our elder and he teaches people and collects money on the side i do there's a good reason for that i tell people all the time what to do with their finances and not many of them do it but if you got to pay for it if there's a value to you you'll do it and i have more people that have been successful because they had to pay for it than the people that take the information that i give away for free and actually use it so let's talk about the proper mindset first off your money is not yours it's not kindles either it's not yours if you can get that in your mind and understand the money is not yours it won't be so hard when you got to depart from it it's not yours and i know you say i worked for it i earned it i worked hard i worked three jobs i worked 12 jobs i'm jamaican and it's mine it's not yours first of all we got to recognize it all belongs to him and if you get that perspective wrong you're overspend because you think it's yours you waste a lot of money because you think it's yours you make a lot of bad decisions because you think it's yours what is a bad decision me think of one probably the main one that i talk about with people they have money with no plan having money or income coming in with no plan you're like a ship without a sale having money with no gold you are shipped without a sale you're just wandering around when i'm counseling private privately the first question i asked my families are if money wasn't an option what would you be doing right now then the next thing i asked if i'm in a setting like this if money wasn't an option and you know what you would be doing are you doing it raise your hand i see one hand two hands three hands and some for some people retirement is what they want to be doing so it's okay but you saw the hands go up nine out of 10 people if you walk down the street and ask them what would they be doing if money wasn't an option they don't know the answer because they're surviving most of them not living they've allowed the world advertisement marketing life responsibility to come in and dictate to them the choice that they have to make not the choice they want to make because they're chasing a dollar some people are at a job they don't want to be at because they're there for the dollar and they're very responsible people but they don't have a way out most of them because they don't have a plan it's a great book that i read often you can find it on youtube electronically it's called the strangest secret by earl nightingale it talks about 100 men that went out and out of 100 men they followed these 100 men through their lives when they got out of high school they went some of them went to college at the end it was only about five out of 100 that actually was successful what is success success has nothing to do with money you can be successful and be broke if that's where you want to be i know some people that choose to live a very minimalist lifestyle and they're very happy but what is success success is waking up every morning doing doing what you want to do that's success there's no price tag attached to that i'm successful i wake up every morning and i come to beth shalom and i answer the phone and do do my job and that's what i want to do i believe that's what i was created for i was created to serve him in this capacity to help people get to where they need to get to not only their spiritual growth but especially in their finances because outside of religion in your spiritual growth your finances are connected in every single way as we talked about in the beginning so we have to change our mindset how do we change our mindset we change it first by understanding that for the question i asked you what would you do if money wasn't an option what would you be doing right now people tell me oh i would travel that gets old at some point after you see everything oh i would start a business what business i don't know oh i want to finish my college degree great i had a young lady in my office not too long ago and she came in because she was just tired of her job and she got to the point where she just walked off her job and i said what would you be doing if money wasn't an option try to change the way she's thinking about what she just did and she says when i my goal might to be successful i want to be a stay-at-home mom so great now she's not married doesn't have any kids but that's what she wants to do to be successful in her mind if she had attained that she would be successful great so the next step is how do we get there changing our mindset to understand how to get from where we are to where we need to be requires us to think differently the world has taught you has advertised to you to want what they want but we're set apart how can we want a little less so we're living off of 70 of our income and not 110 the 10 over 100 is your credit cards some of you are living 115 120 125 150 of your income because you live the rest on credit and i know nobody wants to hear probably all of you because you're here a lot of people tell me oh i got credit i got credit i got this much credit that much credit this much credit this much credit credit is debt and if i knew what i knew now i would have never got credit card when i was 20 years old i'm 44 now i haven't had a credit card in a very long time but if i knew what i knew now i would have never got a credit card people come to me all the time oh i don't have especially some of our kids that came on our academy hey i want to start life i want to buy a house i want to do this i want to do that i need to get a credit card no you don't but the mindset the world mindset has taught us that we need credit we should get credit credit is good depends on what you need it for if you got credit and messed it up like i did 20 years ago actually was over 20 years ago then in order for me to buy another house i got to get my credit straight because there's a requirement i bought into the system i got the credit card did poorly with it and now i got to get my credit built up to a certain level a certain debt score that's what it is i have debt score the bigger your score the more debt you have i hear people brag to me all the time i got a 850 i got a 800. that allows you to do some things this means you got more debt than i have or you have the income to keep up with the debt that you have so i'm not telling you to cut up your credit cards yet some of you need got big balances to pay off but i want you to think about your money differently and have a mindset a mindset that i'm not going to be in this same place that i am right now three months from now six months from now a year from now i'm going to be in a better place because i understand how to think appropriately about my money understanding that is not mine and also a big motivator is you should be wanting to get out of that place and not establish due debt in habakkuk too the prophet is talking about writing a vision and i like this piece of scripture because it applies to the correct mindset writing the vision the first thing you need to do you'll hear rabbi say if you ever counsel with them is what do you want you'll come in with a problem on the council about he's going to ask you what do you want i'm going to ask you what do you want then my next question will be have you prayed about it as many of you know because i want to make sure you're serious about what you want but most of all for you to be serious about what you want you got to know what you want and a lot of us in our finances we don't know what we want we want to be free we want to have more we want to do more we want to give more we want to live more but how do we get from there to where we need to be first step right division write the vision know what you want figure out what it is that you want and write it down since we're talking about finances i'm gonna give you a financial first goal that you should write down you should save or have in savings to start one month of expenses living expenses so whatever your monthly budget is what you actually bring home not what you actually have to pay out because a lot of us are out peter to pay paul because we live in 115 150 above what we actually bring in so bring so write down what your goal is for one month your expenses that's your first goal write it down and for everybody is going to be different some people can live off of 3 000 some people need eight some people need five but if you don't have a clear goal of what it is you're trying to attain and in this context we're talking about our finances you will never reach it it down make it plain i need to make ten thousand dollars a month out of that ten thousand dollars a month in this walk how many how much of that are we actually going to live off of somebody can call it out i can't see half of you seven thousand right because the first three is coming off the first 30 is coming off the top when you get it right you watch money mastery even though it's not your third tie of the year you should be saving that 10 percent and you can use that for your investing to build up your expense or your emergency fund should be one month one month of expenses it used to be one three to six months you start with one month but then three to six months of living expenses that has changed since the pandemic since 2011 i've been teaching about finances it's changed greatly because of the pandemic i would have people argue with me about paying off debt versus saving and what order to do that in i said you need to be saving because you can be real responsible and all your bills are paid and you lose your job you have nothing saved how are you going to make it to the next month and i actually have people argue with me i got a good job i didn't work that 30 years that means nothing but we're thinking about it and looking about looking at money the wrong way because we're thinking it's ours or we think that we have time or we think we secure so we think we have time to continue to mess up not being the place we need to be and when we lose our job most of you in this ministry will be talking to me how do i get from where i am to where i need to be we first have to change our mindset figure out what we want and i gave you your first goal is to save one month write it down whatever that number is over here on the side i have a personal snapshot financial snapshot that you can write down what you need help with a lot of people come to my office and they come with a bunch of stuff and i send them away with a budget and instruction and how to start working towards that goal money mastery rabbi's teaching showed you which is absolutely correct or else he wouldn't have taught it you need to track your expenses for 30 days i tell people teach people to put it in a gallon size ziploc bag all your receipts for 30 days do your best to buy it with cash so you can have a physical receipt if you use a card print it off and make sure you have that receipt and put it in and start tracking but changing your mindset means establishing a goal writing it down make it plain because the rest of the scripture says so you can walk and not faint didn't say so you could run so you can walk and have a clear idea a clear goal a clear mindset this is what i need to do financially now this these rules apply to any area in your life for goal setting but we're talking about finances you just looked around the room many of you did if you didn't only three people out of the room raised their hand that says if money wasn't an option they knew what they would be doing so we need to change a mindset so we know a lot of us in this walk because we want to know we don't want to leave it up to chance up to doubt up to a prior belief system we're in here because we want to know and our goal is to be with him i mean so we got to get it in line don't come up to me and say you want to start a business if your house not straight because that's where we're going to go first show me that you can appropriate appropriately deal with your finances before we start talking about business i've told you i've ran million dollar multi-million dollar corporations and i had to sit down with ceos and go through my p l which is a profit and loss report and i had to explain expenses line by line sometime i had to stop the dumpster for coming to some of my stores more than once a month because that was 900 bucks and i needed to save some money i had to do some adjusting but that's what you have to do in a business and if you're not properly appropriating in your life in your house you're not going to be successful so we need to start by writing the goal one month of expenses people often ask me what do i do after i get there well do that first come back and talk to me i got a good filter that i use some of you may know what it is when you come and i give you your instruction what to do i give you a packet of paper and i say fill this out it's a budget fill this out it has instructions on it give it back to me if i never get it back you're not serious about getting yourself straight you never make an appointment with me you're not serious about getting yourself straight and i know some people need time i had somebody last night so i need i need 30 you know 30 60 days to get it down because i spend a lot it's okay once you get it done let's sit down let's talk about your numbers and get your mind straight scripture says that wealth and i'm just going to open up this so we can lead into the next time that we get together to talk about finance on finance too but wealth was given to you to create the covenant to establish the covenant not created he created it but he gave you wealth yahweh gave you wealth to establish his covenant establish whatever wherever you are wherever he placed you to establish it and because we had the wrong mindset and we haven't been taught a lot of us have been establishing our own little thing our own little house our own little world and not use it for what he wants us to use it for so we don't give appropriately we don't do the first second third tithe and a lot of it is not really everybody's fault a lot of people don't know they don't know how to take their income from 115 and bring it down to 70 percent it's easy for me i'm outside of looking and i can look at your budget and tell you you don't need a hobo max as my kids call it hbo max and disney and netflix that's 20 extra dollars right there and you can get all that stuff back once you get the stuff in alignment but a lot of our stuff is out of alignment and then last but not least we're living on somebody else's money that's why you need to have your own start having your own security blanket and not using the man's security blanket because your security blanket doesn't cost you anything but some discipline as rabbi said because most of us are lazy we don't even want to think when it comes to our money i was talking to a lady said that she went to school to be a veterinarian but she was a school teacher but she went to college to be a veterinarian i said why are you not a veterinarian that's what your dream is is that still your dream yes that's my dream why are you not a veterinarian well i got bills to pay okay pay your bills get another job go be a veterinarian let's work on a plan to get you to be a veterinarian that's what you want to be let's work on a plan to get you to be the ceo if that's what you want to be open a restaurant that's the way you want to be but we got to get home done first and get the right the right mindset in order for us to move forward with what it is we want to accomplish in our life so we write the vision we make it plain so we can walk towards that vision and not faint though your vision is not going to come instantaneously because it's not a microwave society everybody want it now they want the pleasure now they want to enjoy it now they want to go on the cruise now they can't afford life now and they spend way more than they make and one thing that rabbi mentioned last night that i tell people all the time we waste so much everything we're just wasteful as people i've been there done that we're just wasteful and a lot of times we don't even know we're wasteful because we think we deserve hobo max and netflix and prime and this and that and just and if you can afford it i have no problem with it if you mastered or learned how to tithe i have no problem with it get all the hobo max you want but if you don't have a goal i sit down with you and you can't raise your hand and say if money wasn't an option you don't know what you would be doing then there's some adjusting that needs to happen your mind needs to change get out of that thought process like the world buckle down i've told many people i had couples sit with me the wife is upset she want the husband home but she wants more money she's home taking care of kids he can't have it both ways he's going to get five jobs and take his responsibility retool himself so he can get a higher paying job or he's going to be out working 12 jobs to take care of you and the kids and i hope you there supporting him and cheering him on and loving him and helping him as a good help me to be all he can be so you can stay home and watch the kids if that's what you want to do if that's what you guys decide to do but you can't have it both ways you can't come and cry about you don't have enough money but yet you don't want him to work so let's change our mindset first goal one month of expenses let's get the one month just write that goal down one month living expenses some people say well i got that already good the next step is three months three to six months but i like to take it slow if you can do it faster do it faster but it's not a race you want to save one month what would what would what would one month give you gives you one month of freedom if you lost your job you got one month to figure it out three months gives you three months six months gives you six months do you know we used to teach that three you know three to six months of living expenses do you know what the new the new number is now because of covet and everything how the world is changing loss of jobs and everything one year of income you should have saved so if you come to me to talk about business you ain't got one year income saved at least half a year half of your income saved we ain't talking about business we're going to talk about how to get you where you need to be so you can launch from there setting your appropriate goal and make sure there's no obstacles in your way let me help you jump over those landmines because they're out there a lot of those are drive by land mines i got 10 000 from the stimulus i want to go and be an investor nope i got 16 000 from the stimulus i'm gonna go buy a new car nope you buy a used car no car payments we're not getting no car payments one month all right one month am i how long i got marty two minutes i'm good all right so we got our first goal all right change your mindset write your goal down put it in your pocket look at your goal every day if you look at your goal guess what and you work at your goal and you discipline yourself and you get rid of hobo max people got on their phone got it in their house they got it everywhere you can get to where you need to get to it's not hard it takes discipline rabbi talks about his gym membership do you know when i talk about wasting we'll talk about the next time we meet all the ways where we may waste and all the ways where we can save that money does anybody know the biggest area in our lives where we waste the average american family does anybody know want to take a guess where do we waste the most isaac entertainment is one of them eating out food not just eating out but food it's a big one it's one year i looked at my taxes when i was a police officer i did taxes and i looked at the budget and i was depressed because i looked at my taxes and realized how much money i earned that year and i was really happy but i looked at i made i think like 77 that year so i'm looking at 77 000 and trying to figure out where it went because i was living paycheck to paycheck like where did this money go so i start tracking my income for 30 days at the end of 30 days my wife will tell you our magic number was 671. 671 dollars we could not account for that month they know where it went you might say 671 dollars is nothing what depends on what kind of income you got what kind of lifestyle you have i'm not ruled by money i'm not materialistic so i don't money is amoral it's not good or bad it's what you do with it right so i'm not impressed by how much money you have i got two l's and william if you want to write a check ma'am kid [Laughter] most of you know that joke um but it went to eating out that's where it was entertainment eating out we would eat out just because we had to eat out we would find a way to eat out find the emergency that we had to eat out so we didn't have to cook because we were too tired all those excuses but you imagine if i saved 671 a month from eating out how much i would have at the end of the year eight something eight thousand dollars and then i meet people that are afraid because they have that much money i had this one family they told me they had 16 000 because of the stimulus and all the stuff that happened and they were afraid to leave it sitting in the bank do you need it you've lived all this time without it your income is good we went over your budget everything looks good why do you need to use the 16 000 well it's there it's there to save it's only a poverty mentality that will cause you to spend money and not allow it to sit in the bank or advertising and marketing because they told you you needed the cadillac i like cadillac i don't have one yeah but i like cadillac but you'll find something that you need everybody needs something i needed to eat out apparently but we'll find a way we decrease our spending increase our income we'll just get a get rid of a bunch of stuff i didn't know i found out you can sell you stuff on amazon have you go through your garage and just sell stuff on amazon probably make 2 000 to get to your first month goal or some of you might realize what that number is it might scare you and you might say i don't know how i'm spending this a lot of people don't know how they got to where they are i said you got to where you are because you didn't have a goal if you're a ship without a sale i can make you go wherever i want you to go if i'm controlling the current if you ship without a sale and i'm controlling you by that credit card with a 75 000 balance i can get you to go wherever i want you to go and i'm gonna keep marketing to you because i want you to get that card because if you get that card you're gonna use that card most likely or you may lose your job after you spend the 75 000 and i still got you and i got your house and i got your car i got your kids college tuition i got everything attached to you because you didn't have the right mindset you didn't have the knowledge to keep you from making those bad decisions so we're going to get there together if you want to but all it takes you first step is to write your goal make it plain so you can walk and not faint and though that goal may be a while before you get there you will get there if you keep following the goal you'll find ways you'll drive down the street and find out a way that you don't have to get that starbucks so you can put that ten dollars starbucks is expensive you put that ten dollars towards your goal all right and this is the last closing as i said i was done ten minutes ago i was talking to some young men 2018 at a sukkot talking to them about changing the way they think about money and i asked them how do you save ten thousand dollars and if i just tell you that you're gonna think oh my gosh ten thousand dollars is a lot of money you might not think that since the government and gave everybody all this money that we're gonna have to pay back later but i said how how can you save ten thousand dollars and they were thinking it's a big number to some people depending on what your income is big number so i said how about saving 100 100 bills every time you get paid take 100 bill put an envelope and save it put it in a jar somewhere you can see it motivate yourself only pay interest that only pay debt off that is interest bearing we'll get into that in another teaching but you need to start saving saving matters saving is the first thing writing your goal trying to reach that goal cut out everything that's not going to allow you to get to your goal i'm not telling you to suffer i'm just saying you need to run like heck towards that goal of having at least one month everybody i get a lot of phone calls about people calling about losing their job if you had three six nine 12 months of income saved do you think you would be stressed if you lost your job because of the jab you got a whole year to retool yourself find something else work 12 jobs i used to tell people work two part-time jobs still a full-time income but it gives you the flexibility to move some things around if you like me and need to be a jamaican and work all those jobs but you can reach your goal if you want to be spiritually fit let's start learning how to be financially fit get our finances in order first goal you write it down one month i mean ah man was that helpful all right so i told shamans rob that i'm sure there's people online that want to ask questions if you have a question here that i can answer in a general way i'll answer it the best i can i might refer you to counseling one-on-one with me and no i'm not gonna charge you at first unless you just hard-headed no one listened well you got a whole lot of debt a whole lot of problems all right no questions you got any online sean miss rob oh he didn't shut it all because i said i was closing okay is there a question coming oh she has a question just press the button the red light to cut on um let's say with that we have the three months of savings and it's sitting in the bank with inflation going the way it is are we losing ground to leave it there i always suggest putting in a market a money market account there are money market accounts that you can put in to earn a little bit but it's better than putting in something that you can't get out or put in the market where you're going to lose it so it's fine sitting there would you recommend maybe purchasing silver or something to offset that inflation it depends on what your goal is that's going to make that's going to matter what your personal financial goal is i wouldn't talk about any kind of investing or anything like that until you like six months unless you got half of your income saved or a year because that's a bigger chunk of money then we can decide what we need to do based on what your goals are long term because you may be retired you may you know all those things matter it affects them you're welcome anybody else oh miss alyssa can somebody take it to mike please or you probably don't want to bring it down don't put it on camera just take the mic please i'm sorry camera people okay question suppose you're living on disability or ssi and you're only allowed to save so much money and you want to make a big purchase later on but you you're trying to you want and you're you're doing it okay with the spending of course i could get better but um i want to put i want to save or put some back for a larger purpose but if you get caught on disability you can lose it any advice just practical well i hate to say it like some people come to me my older uh clients come to me and they got that that mattress effect anybody know about the mattress effect they got the house safe they have a secure way to save money without putting it in a place that can recognize that it's there a lot of people do it the mob no buried in the backyard but yeah you can put it in a place that's not like in a bank if you have a secure place to put it in because they know they're sending you the money they don't know how much you're saving so if you're afraid of that then put it in a place they can't see it okay my question is if you're saving some in your own government funds and then you get asked if you have cash on hand in paperwork you don't have it in your hand gotcha thank you it's not on hand it's unsafe hiding in the backyard in the dirt it's not on hand i'm sorry i got that from rabbi that's a rabbism i'm not volunteering nothing it's mine and you can't have already paid taxes 12 times so i tell people start businesses start a business you need to start something find out how to do it check it out anybody else mr isaac and then we go to rob on my stream come up to the mic so they can see i know it's that white light is scary i know it's coming to the light testing so should you keep a credit card even if it's maintained zero balance if you're having to pay the surcharge every year or just go ahead and get rid of it i mean if you don't have any balance on it zero balance i would suggest you start learning how to live off cash or what i do is i have a secured card a secured credit card i took my savings money gave it to the bank and they gave me a credit card but it's my money it's not their money you got to be careful with that one though because they will charge you interest on your own money if you don't pay the bill and you use it but i teach people to use a secured card if you want to you want that feeling of the credit card you want a safe place so you think to save it and maybe you need to do that put it on the secure card the many companies that do it yeah they're going to frown at you and say oh your credit's good you should just let me give you 25 000. i got i i had one to bring they told me they offered me some money one of these credit card companies oh we'll give you fifty thousand dollars the little disclaimer under the bottom you're gonna be paying an extreme rate most of the time double triple quadruple the amount that you borrow so you imagine them giving me fifty thousand i used it for a good business idea and then i lose my job which gives me the ability to pay it back and now i owe 200 000 and now you're sitting in my office asking me how do i file for bankruptcy i actually had two bankruptcy attorneys come and take a course i had back in 2011 and they drove up in these nice new cars and after we had the meeting and i went out and saw what they got into i said get rid of your car i'm gonna have a repo but you can't pay it they're going to take it anyway why would you get an expensive car payment and you you talking about filing bankruptcy so get a secure card if you want that feeling of credit i would get rid of anybody else's money you don't need anybody else's money now if you're talking about you know loans and things of that sort because you want to go into business let's talk about it first and make sure you go in we got a lot of experience rabbi has many many years and as many people on staff that have years of experience with running business and owning business i ran and made money for other people had my own at times lost money made money but you don't want to put yourself in that risk i try to be as close to zero risk as i can possibly be and most of that means trying to find out how you can do it for yourself work for yourself all right rob shamish rob okay mark s can we associate ourselves in other business owners that doesn't observe the sabbath as long as the other business owner and people call rabbi all the time for that council as long as that business uh is not causing you to break torah you know you want to be smart about it seek counsel make sure the partnerships or whatever is set up appropriately so you don't get taken to the bank i think that's the best way i can say that so you don't lose your shirt a lot of people want to go into business and at the beginning when they're talking about businesses it sounds exciting it sounds like a great idea and you can make money but they don't set it up properly as a business partnership the correct way and when they want to split or when they disagree it's hard to get out of that they wind up losing a lot or suffering a lot you got anything else i got one but i'm trying to get clarification from yanni she says question can one save money in mty for future move to tennessee i would call in and find out the particulars about that i know we strongly uh last feast shavuot and even pesach people were sending in extra money um they didn't understand the tithing that they were supposed to keep the second tie they used for feasts like now and whatever is left over you could then give at the end when you have no more use for it if you have more than you actually need it but we don't people were sending in feast money to use for the feast and we had to give them their money back so we don't do that but it may be a certain circumstance because she's out of the country so she can call and counsel about her particular circumstance but on a normal basis for everybody answers no you can't save money with us that that's what she was kind of referring so her money would be here in the states so then you know when when and if she gets to come here she would be able to start her home and life here yeah yanni call and counsel so we can get the particulars and specifics about what you want to do there's a lot of electronic online things that you can do transfer-wise so on and so forth that you can keep it in your money until you're ready to come here and then transfer it over banks will do the same thing you can keep your money in the bank over there when you want to move here they'll transfer it so call us and we can counsel about those particulars of your situation anybody else no oh come on mr winner if you look at your paper and you look at your your neighbor sitting beside you and that number is bigger than yours you might want to and i'm kidding like look can i add a couple of yours to reach good hi um i use the bank rewards credit card initially for like emergency funds but i don't need it now but i do use it because i make about five six hundred dollars off rewards so i funnel all my payments through and just pay it off immediately i'm not a fan of credit cards i've heard people i know people get amazing points and all kinds of things from credit cards i used to sell credit card processing so i know how it works they're giving you rewards back because they're lowering the apr a lot of the cards they're just giving you some of the processing money back if you don't need to operate that way get out of it okay get out of it i mean you you're earning processing money back and i know it's almost like oh i'm giving away free money but what if your business goes down a tube and you got their money they want their money back same thing with a credit card people say i got a zero balance i have no annual fee until you need it until you use it and you want to be put in that tempting place where oh my car broke down i got 2500 in the bank but i also got 2500 on the credit card let me use the credit card and save my cash gotcha yeah i keep it at a zero balance i just pay it off immediately after i transfer money for payments yeah i i don't i don't you'll never hear me shout for any kind of somebody else's money i never i never do all right thanks you're welcome anybody else marty gonna have a lot to edit all right well i appreciate all of you um look at that i almost made it time for rabbi to come out for his class everybody super excited about the color code [Applause] oh that's the that's the first one half of y'all need to go back and get the right lanyard because i'm looking around the room and i know now i'm kidding [Laughter] we changed out a few this morning somebody uh did that test and uh had to change their lanyard to they were something different than they were before sure miss kathleen we can come on grayson or uh shane can you let rabbi know that i'm sure he'll be coming out let him know that i'm wrapping up oh there's shane miss kathy said some young lady dropped their glasses outside the elevator anybody missing glasses which building ritual at the pritchard building if anybody's missing glasses she's going to take him to the front desk if nobody in here welcome he's on his way all right you're welcome you're welcome if you guys need help uh i'm the accountability partner for a lot of people uh and the finances at the ministry they call them just ask questions is it good bad like again i don't have time to dig deep but we do offer that uh rabbi and myself i can give you some guidance when you got that you're at the car dealer and you're trying to decide should you fix your cars or get a new one we'll help you do that or if you should buy or save or hold or sell all those things we can help you immediately with those things that come up sometimes you just need to kick in your butt and i'm happy to help you limp away i'm kidding but we can help you super excited the marketplace is open for those who didn't know it was open if you need to get your t-shirts and stuff for friday it's open if you need to get a copy to color code you haven't did it yet there are copies on the table that you can have and get ready when rabbi comes [Music] you

Channel: Messianic Torah Observant Israel

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Length: 62min 7sec (3727 seconds)

Published: Wed Sep 22 2021