What Nobody Tells You About Building Wealth W/ Rachel Cruze

yo what's going on amateur boy anthony welcome back to the table and today on pump because we're gonna really keep it real relevant and relatable yes cause my girl is at the table y'all i mean rachel cruz you guys is no secret to the world she's no secret to us y'all know uh she's probably one of my favorite people hands down one of my favorite white people i'm just gonna say it uh because we have this conversation all the time i've been on her show talking about racial stuff and today we're not talking about racial stuff let me just be real we want to talk about some things but we're really going to dive in deep into money because this is where she lives and she wins in this area but without rach well this is my first time at aou now you've been on my show like what are you trying to say right three times this is the first time the first time you've had me on but thank you i feel so honored no but we're gonna talk my team and i we were like yo we need to get rachel on but then it was like wait let's save her until her book comes out you know we can really push you i thank you yeah because my squad buys books i love it okay let's just tell the world a little bit about our our friendship yes okay when i first got here you hit you hipped me to understanding the white culture teaching me things so i won't make mistakes out there on the road um has that how has that been was i the first black person you've asked some questions to like that oh yeah i mean that bloodline yes because i have good conversations with people at the time and so like yeah so you know we'll talk about stuff but with you this is why i appreciate our friendship i literally will be like okay yeah i'm about to ask you a question and i'm a white person about to ask this question and it may not be right so like don't don't give like i but like here's what i'm thinking and like and i'll just say it and like there's not a big filter with you obviously we will filter what we say is that you're like on camera you know all that but that's why i'm thankful for you is like when it's just you and i sitting up in our personalities area yeah at our desks i'm like hey oh yeah i got a black person question for you and then you'll say rachel i got a white person question for you and we just have great conversation so i i always tell people though i am so thankful for you you've taught me a ton and i don't know i love our friendship i remember one time rachel it was at the uh personalities we had a retreat and then afterwards we had a dinner yes and you came up to me when i was leaving that day and you made you made my evening i was driving to uh north carolina the next day and i was coming out he said anthony me and my husband we binge watched your black history panel and oh my god it was just amazing and thank you so much for doing that and i was like wow that meant a lot coming from you right thank you you know just to hear that and we're like in the ramsey world so it's i i'm guilty sometimes of not watching other ramsey personalities because we're kind of like in our world we're doing our thing and we're on each other's shows and all that well i'm on your show right now right now thank you but uh but yeah and i don't always and i was like oh god i need to go watch i need to go watch it yes and we benched it and i was like anthony i was like you it was amazing it was so well done and yep i loved it loved it thank you rach so listen i would i brought you on the show today because i really wanted to just have a conversation around money but you took an interesting journey about a year ago you went into a deep dive to really understand yourself and how you relate with money break that down for us for one why did you do that why was that important and where did you land yeah so it was a couple of years ago and there was no big like crisis moment my life was like oh my gosh i need counseling or something but i started kind of like unpacking a couple of things in my life and i had a great counselor at the time yeah and it was just fascinating like when you dive into yourself and why you do the things you do yeah why you cope the way you cope why you i mean it's just fascinating to me yeah so interesting and so that and then the enneagram came out and i took that and i was like that's so important what's the enneagram i'm a three i'm a three-two you are eight yeah yeah okay well i really think i'm a seven secretly but a test always says three so i'll be at three but like that was always fascinating to me personality test i mean all of it like all of it just understanding myself is always fascinating but yeah i kind of did a really deep dive a few years ago um and even winston with him and our marriage all of it and so out of that though i realized man i am just not i'm never arrived i know that but i am a healthier person emotionally and so my relationships in life are better like i'm a better wife i'm a better mom i'm better friends i'm a better daughter sister all of it right like and then in that moment i thought man okay well i talk about money 24 7 in my job yeah so how's this affecting my relationship with money and so i started asking the why questions because for a decade now i've been talking about the how to's of money i talk about how to budget how to get out of debt how to invest how to refinance your house how to build wealth how to give yes how to but i never asked why why do i spend the money i spend why do i do the things i do and so kind of going under that surface so i start i ended up in this like i felt like this like black hole of like never-ending stuff and i was like i've got to write a book about this so that's where know yourself now your money came out was really out of my experience of diving into this whole new part of money that i never really had dug into and the crazy thing too is the ao you know this we talk about personal finance it's 80 behavior it's only 20 head knowledge exactly and i thought okay so if the bulk of winning with money is our behavior is us yeah why don't we spend more time on us and understanding ourselves more and so that's what this book is man i love i love it so i read the book it's amazing thank you i really want to call out because i don't want to give everyone what's inside the book okay uh but i really enjoyed the seven tendencies and so i want to break these down uh if you're okay with that yes because i think these are very important because you're right how do we uh deal with money why do we make the choices we are making when it comes to money and so when i went through these i identified oh wait okay because i want to know which one you are so these tendencies okay there is a spectrum okay yeah yeah and all these tendencies there is no moral compass to these neither one is right or wrong okay so there's not a better and the best okay so there's no good or bad no no no no no but i did it specifically that way because it's just you it's your natural tendency yeah now extremes can get bad and we can talk about that that can get unhealthy okay so honestly probably the most moderation the most middle ground is probably the the healthiest because you need both tendencies but you naturally lean one or the other okay so that's what we'll talk about okay first one suspender spender or saver oh okay hey oh you should know this off top of your head what are you what are you doing yeah yeah thank you you know i had to have to fade like i was thinking about it i knew it i'm a spender so here's the example the extremes are bad right like if all we do is spin we're gonna be broke right and if all you do is say you're gonna be miserable you're gonna hoard all your money and yeah yeah so like so again extremes are bad okay but you naturally fall so as save as spenders we do have to save a little yes and if you're a natural saver that's great but you do have to spill it a little bit so now when you say you're a saver spend a little what does spin a little look like i'm a spender save a little bit that's what i'm saying but like if if someone is a saver yes and you say spend a little what does that spender what does that look like spinning a little oh it just means yeah you're opening your hand and spending so like we all have to spend money though on necessities right like like you're gonna have you have to spend money in life so food shelter all that like you you're going to have to spend money but then allowing yourself to have fun now there's seasons of sacrifice yes when you're getting out of debt you're doing stuff that there's not gonna be a lot of extra spending and that's okay yes but the idea here is that i mean we talk to people all the time and they've gotten out of debt they have an emergency fund they've done it and now they like don't want to go on a 5 000 cruise and i'm like go on the cruise go on the cruise but if they have a hard time there's something about it that they they're not comfortable in it so we we have to have both okay next one yeah mostly around budgeting are you more of a free spirit like ah no big deal are you more of a nerd where you're like oh no i love the numbers i love excel i'm the free spirit me too but i think i'm like a conservative free spirit so i don't go to the but just far like to know all right i spent fifty three dollars and two cents at this place i don't know down to the center yep but i'm not like oh i want to excel i want to see am i calculating this right here oh man i adversely spend this no i'm not that guy but i do want to know okay down to the penny how much money i'm spending every single month brilliant that's it that's the moderation it's great so yeah and i naturally lean more free spirit okay when you spend money do you like to spend it more on experiences or things actual items oh man i'm just experiencing this oh you are always going to say your things are your things yeah because i just bought i just bought a porsche everyone knows that and i want that experience no no no no i want the experience of that nice muscle car i don't i didn't buy the porsche because it was porsche i bought this thank you for saying it correctly do you know that is the correct word yes well most people say porsche no it's porsha i know okay okay okay that is a thing though no experience i'm eating like a vacation going out to a good dinner no but see i have an experience every day you know what i have an experience every day when i get into the car okay fair fair failure cause you know what car i really want what car you were the one i really want a tesla well go get it real bad i really want to talk about let's make a deal right now if you become real number one but you go buy it i know you got to talk to winston but if you get if this book becomes the number one national best-selling book you should go buy i think i bought a pair of shoes from my last book and i'm like upgrading from shoes to a car no so like because of the experience so i now i'm i'm back i'm backtracking because i can appreciate that you get in and a tesla there's nothing in there have you ever set a tesla yeah i have i never thought you would want to test oh man they are so fun you know they drive themselves the new ones do right oh yeah no no they all okay we gotta we gotta keep going but it's like it's like when you plug it in it it like reboots like your phone okay so i'm an experienced person i want to spend money i'll drop x amount on like a great dinner but then where my husband winston would be like no i could take that same amount of money and go buy i don't know boots or something yeah that like that my money is being used because i get to reuse it over and over but you know what i've learned to family people or more so into experiences than things because experiences brings memories yeah um but i think for me everything i look at okay can this thing bring an experience if this thing cannot bring an experience then i don't buy it it's good so that's how i look at it like i don't buy i bought a gucci bag you remember that that was a thing yes but it didn't bring an experience yeah so i took it back because i was like this is well neither one's right or wrong though yeah one's right wrong person yeah that's fine you're right you're right thank you rachel no more compass no more company okay um okay quality versus quantity oh i'm a quality guy you're quality okay see i'm quantity you are oh yeah break this down what is it i'd rather have like 18 pairs of earrings than like one nice pair for real oh yeah oh yeah i can i can go so you would rather have five pair of boots that no one really knows and have a pair of red bottoms a thousand percent yeah okay move it for those who watching right now which one are you are you quality or quantity options i like going specific we'll talk close yeah i like going in and being like i have so many options and now i feel like this like this i feel like this and i can have a sweater that's 20 bucks and okay so here's the thing your extremes are bad though because listen my my quantity can get bad though because i can start spending and justify my purchases i'm like well it's just 20 bucks it's just 20 bucks and i can start coping with spending money really easily and you don't buy things that last so like there's not really so like that's not good right on the extreme side and then the quality the extreme side is that if it's not that designer if it's not that label it's not good enough and that's not true either so and you can start to identify it can start to become your identity of your of your things i do you know being who you are because neither one you're saving you possibly you're not saving that much money because if you take a thousand dollars go buy one thing you spend that same thousand dollars and buy several i know and then they could break yeah and all that so this is yeah i just like options for people like options i like quality yeah i just love quality you're a porsche guy yeah okay um okay when you're going to win with money when you make the decision you know what i'm going to start doing things differently i'm going to start winning with money what's your motivation is your motivation to win with money out of safety knowing i'm going to be okay like i i'm going to have the safety net under me that's why i want to budget so that i can feel safe that's why i want to save money because i want to i want to feel safe or is it out of status and status is not a bad word that sounds bad but it's i'm going to do these things and make these sacrifices so that i can do other great things oh rach i got to say this mm-hmm and you said you said neither one is wrong right no they're not no no i'm a status guy yeah i'm status too am i really am and like for me my status comes from you know coming from where i come from i want my brothers sisters who are following me to see we can be young successful debt-free with nice quality things yeah so like that status for me is like yes we can do it i'm not really a safety guy yeah but i still i mean yeah i'm status no it's great and i am too like i'll do a budget so that i can go buy something or go take a great vacation or to do something that's why i'll make the sacrifice if i'm making this but my sister is more safety like literally see her doing that yeah i joke all the time because they've been talking about redoing their deck out on their yeah for three years but for her there's a level of safety of just having it in the bank and it just feels good yeah yeah right so like and and both extremes are bad right because money ultimately we want to be wise we want to save yeah but ultimately it can't be your ultimate safety it can't be it's not there will never be an amount of money if that's your number one safety in life it's never going to be enough yes and then your status we have to be careful that we don't think our stuff defines who we are so here's a question to well we'll end on this i think we're about to wrap up yeah for me this is for me it was a very convicting question that i ask myself now all the time okay when i make a purchase if i if i can get my head around to say okay you know what if i buy this thing but no one is going to see it do i still want it oh so if you buy this thing and no one will ever see it and no one will ever see it do you still want it so that's a that's a status quo and i have to ask that for myself a lot because what are you buying what's your motivation for buying it sometimes i do want a nice pair of shoes just for me because i just love a nice pair of shoes and it's great but if no one were to see those red bottoms do would i really want them 50 of the purchases for me no i wouldn't buy it i'm gonna be real i know i i i have to i that's my filter i ask all the time cause i'm a status i lean that way so we just have to be you just have to be careful there's just some red flags to say okay is it for other people um and so in your book because i want to make sure we spend time on this because i want you all if you're listening via podcast youtube or instagram we're going to drop uh where you can pre-purchase her book at uh in the show description so please make sure that you do check this out but rachel um in your book do you really talk about the extremes and how we should be processing things and doing things and work through whichever ones we are if they are on this stream yeah absolutely so this this tendency is just one part of the books we talk about your childhood we talk about your your money fears talk about your money tendencies your dreams there's so much there in that book this is just one small section but yes walking through and i think a big thing is too just identifying because when you can just say out loud yeah i'm more status versus safety it's not bad but now i can start to have my own red flags in my own life my own convictions when i am making purchases just to make sure okay this is healthy overall yeah because it's a it's that why question why am i doing the things i'm doing and when you can pinpoint that then you're able to change behaviors and make smarter decisions for your money and your life yeah yeah yeah man this is this is good and so the title you book is what again know yourself know your money i knew that i just wanted to make sure i didn't say it because it's just like why well kick up yeah yeah cause like ky when you text me today it was like ky ky somebody i was like what i know i know the initials were funny yes well everyone on the team calls it kick him because if you go k-y-k-y-m oh kick him yeah yeah i see it now we might be playing soccer we might be writing books who knows here's a good thing about it you all if you pre-purchase this book today um anything that we do here at ramsey solutions we give you more than actually what you pay for and so i don't know all the details because i'm not in rachel's world audiobook okay audiobook ebook a free video lesson free video lesson and the book that's about 150 worth of products but you're only paying 20 bucks yeah so listen listen uh tribe listen family uh listen youtube family listen podcast family i need you all to uh go purchase my friend's book she's a new york times best seller uh national number one bestseller and she's just a real cool down to earth uh lady that i want you to follow uh because you'll learn a lot from her and i gotta say when you hear rachel cruz and he says oh that's dave's daughter of course no i thought that too to be honest when i first got here you know but rachel was probably one of the most realist ladies you would ever meet um you'll learn about some of her flaws she'll just learn about some of her mistakes and how she outgrew them and how she is successful today and rachel cruz is successful because of rachel and she works hard so i'm telling you right now go get the book hey oh thank you hey thanks for having me on for real yeah so appreciate it i really do thanks for coming on i feel honored oh that's your advertising [Music] yo so we'll drop it uh we'll drop all the information in the show description go check it out go purchase her book and we'll see you all on the next show rachel thanks so much thanks a.f love you peace out y'all rachel i think you might be a seven oh i know i'm for sure a seven year old the experience thing like dang enneagram people though she's a three [Music] you

Channel: The Table With AO

Views: 72,974

Keywords: anthony oneal, anthony oneal debt free degree, anthony oneal student loans, money, budget, how to save money, personal finance, debt free, how to budget, debt, how to make money, how to get out of debt, student loan debt, student loans, african American, black, hiphop, culture, millennial, student, What nobody tells you about building wealth W/ Rachel Cruze

Id: MCWDhlerPFA

Length: 18min 39sec (1119 seconds)

Published: Mon Dec 14 2020