The Truth About Paying Yourself First… Most People Are Broke and Simply Recycling Debt… Not Rich
Summary
➡ The text emphasizes the importance of teaching children to be self-sufficient and not to rely on their parents for everything. It criticizes the idea of pushing kids out of the house at a young age without preparing them for the real world. The author also stresses the need to think about decisions from a business perspective, to avoid debt, and to be financially prepared for any situation. Lastly, it calls for a change in mindset and leadership, urging people to seek inspiration not from material possessions, but from the process and reasons behind achieving success.
➡ The speaker emphasizes the importance of changing our mindset and not just following popular advice without understanding it. They plan to challenge existing beliefs and provide a new blueprint for success. They are gaining recognition and refuse to compromise their approach, relying on their faith and personal principles. They express gratitude for their followers’ loyalty and encourage them to continue supporting their journey.
Transcript
Paying yourself first could mean that you’re out here making sure that you’re educated and that you’re reducing the amount that you’re taking out in student loans by going to community college and then paying for that first, right? So you need to set a budget, right? And the way that I do my budgets, and you can go into the Patreon and look at the budget video, is based off of percentages. So the same way that money comes out of your account for taxes is the way that you guys need to be making sure that you’re paying yourself and accounting for what you’re supposed to be doing as far as what’s best for you long term, right? So then you then adjust your budget for whatever it is that you need to take care of after that, right? So let’s just say, for example, one of my OGs taught me back when I was in a plant to always pay yourself at least 20 to 25%, right? Meaning that I take my gross and whatever it is that I gross, I then take whatever it is at 25% of that.
So let’s just use a round number. Let’s say you grossed $1,000 that week. Okay, cool. So then I pay myself $250, regardless of what I’m paying in taxes, regardless of what I’m claiming in exemptions or dependents or whatever like that, I take that $250, that’s gone. It don’t exist to me. No matter what, that $250 is gone. Now, whatever I’m going to use that $250 for, that has to be for something that’s actually going to benefit me or invest in me or ensure that I’m going to be successful long term. So that $250 need to go on a brokerage account, it can go to my education, it can go towards paying off debt.
If you’re young enough, then you shouldn’t be acquiring debt in the first place. Don’t even put yourself in that position. That $250 gone. I don’t care what happens. So now whatever is left is what I adjust what I’m going to do as far as fun, living situation, whatever. And the problem with most people is that they look at the market and they say, well, this is how much living costs. I’m going to do that or this is how much I need to buy a car for. I’m going to do that. And then they adjust their budget accordingly afterwards for whatever it is that they got left towards savings.
And you need to do the opposite. And the way that you the first thing you do is you train yourself to start focusing on paying yourself first and then everything else comes last. And then you’ll start to make adjustments. So it’s only two things that’s going to happen after that. Either you’re going to adjust your lifestyle to fit what you have left, which is a smart thing to do. And or and or it could be an and or and or you’re going to work much harder and then be that much more motivated because you know that in order for you to meet certain thresholds of a lifestyle.
That you’re going to have to make way more money. You see what I’m saying? So listen, if I got 25 percent, that’s going to me because y’all y’all get 25 percent to the government. Y’all get 25 percent to the student loans. You get 25 percent to the finance company. You give 25 percent to this. Now, my mindset is different because it’s like, wait a minute, if I only got, you know, 600, 500, 400 dollars for the week left over, that means that either A, I need to make more money or B, I need to adjust my lifestyle.
But that money don’t exist. The money that you pay yourself, it does. It should never exist. That is not an emergency fund. That is not something that you can go and take on, you know, tap into. When people ask you for money or people do stuff, you don’t look and say, oh, man, I got that money over there. No, I’m broke. That money don’t exist. You got to act like you never had it. You got to act like what would you do if it didn’t exist in the first place? Right. And so that’s how you got to live your life.
You need to. And it’s so hard for people to make the adjustment after they’ve been living a life for so long doing it the opposite way because that’s how society has taught us. The reason that society teaches you that is because it’s incentivized for the banks to make money off of you because you think that it makes sense to borrow money. So your normal is to borrow money for student loans. Your normal is to go get credit cards. Your normal is to go finance a car. Your normal is to go and buy a house and then finance it for the next 30 years because that’s what everybody do.
So everybody is marketing to everybody the wrong thing, but they’re not marketing to you how to get rich. Why? Because if they got rich, if you got rich, the more y’all that get rich, the more that the banks don’t make money. The more y’all that get rich, the more that the finance companies fail. The more you’re ought to get rich, the more that all of these consumers and all of these stores don’t make their money. The corners, the after pay is the finance companies, the credit cards, the banks, all these places. They don’t get rich off of me.
They get rich of y’all. They don’t get rich off me they get rich off y’all. That’s how we start in this morning. That’s how we starting this morning. The finance companies don’t get rich off me. They get rich off you. You know why? Because I don’t believe in financing. Everything that I do in my life, I adjust to my budget. If I’m not there yet, then that means that I need to make more money. I need to go and get another job. I need to go and make sure that I partner with somebody that also has some expertise in that area.
Maybe you need to get married. Maybe you need to get married. You didn’t know that marriage was a business decision, especially when you broke. Marriage is for broke people. Don’t let them lie to you. Marriage is for broke people. You thought that marriage was for love. No, marriage is for you to leverage the person and what they can do for you, and then you reciprocate, and then you give them whatever it is that you can do for them, and then you lean on each other in order to be able to grow and then build this wealth and build this empire, and then you preserve it by passing it on and ensuring that you’re raising a group of people, A, the kids.
The kids is not for you to feel good so that you can get mad at the daddy. The kid is for you to create a better environment going forward and then also be able to preserve wealth and pass it down to know that this earth is going to be in good hands because you’ve groomed a successor to your greatness. Marriage is literally a business decision. Maybe you need to go and get married because you can’t do it by yourself. You insufficient in this area of your life. You keep crashing out, and you don’t have nobody to hold you accountable.
Marriage shouldn’t be for love. It shouldn’t be for looks. It shouldn’t be for all of this superficial nonsense. It should be for people that actually got your best interests at heart, and that’s why you need to be equally yoked. It allows for you to grow in areas where you weak at. Every decision that you make. Now, that don’t mean that the love can’t come with it. It don’t mean that the box can’t come with it. It don’t mean that you can’t have a great time to come with it, but it’s business first. When I was a child, I did childish things.
When I became a man, I put away that nonsense. It’s time to run it up. It’s time to take care of business. It’s time to make sure that the person that didn’t ask to be here, your kid, then is groomed to be a successor for your greatness. They’re supposed to be better than you. You don’t have kids so you can get taken care of when you get old. You have children so that you can make sure you have a successor and you give them everything that they need. You shouldn’t have your son being raised to be a son husband.
Your kid shouldn’t be in football so that they can get a good contract and be able to take care of the parents. That’s not what it is. That’s not what happens. That’s how your kid gets CTE. That’s how your kid turned into Muhammad Ali in his last days. Everything is a business decision, but because we don’t look at things business first, we make decisions based off of our emotions. That’s why your children shouldn’t be out the house right now. You keep trying to push them out the house at 18, 17, 19, 20, 21, making them pay a bill.
That’s not what, are they ready? Are they ready? Are they ready to go out there and prove themselves to be worthy of being a successor? Are you in a position to make them a successor? Are you passing on debt? Are you passing on greatness? Are you passing on lessons? Are you passing on opportunities? Are you giving them what they need to make this world a better place? Are you passing on generational curses? Please, let’s throw away that whole term, generational wealth. Let’s throw away the whole term, generational wealth.
It’s not a real thing. You buying your kid a car, your son a car is not a generational wealth moment. That’s you preventing him from learning the lessons of what it takes to get hard work and he’s never gonna appreciate it because you didn’t make him work for it. You making your son a girl. You might as well get him a dress. You might as well get him a dress. What happens? Listen, if you not confident that if you was to pass away that your family would be okay, you did your family a disservice.
If your kids at 19, 20, 21, 22, 23, 24 years old would absolutely fumble, crumble, fall in the event that something was to happen to you because they’re not sufficient enough to be able to take care of themselves and all they ever did was depend on daddy and mama, you failed as a parent. The criteria for girls is supposed to be different for guys. The criteria for you was supposed to be different so that you could teach your kids what life was supposed to be like as far as what it takes in order to be successful.
And we all out of purpose, we all out of purpose. That’s why we finance everything. You’re not supposed to be indebted to anybody for the rest of your life. For 30 years that mean that if you turn 30 or you turn 40 and you finally decide to buy a house that you got to pay for it till you 70, ooh wee. Oh no, oh no. That ain’t even your house. They lied to you because they made, they did the same thing to you that Diageo did to Puff. They say, yeah, you can act like you own Siroc but that ain’t really yours.
That ain’t really yours. The minute that you miss three months of payment, guess what, Anton coming to buy your property and I’m paying cash. I’ll never have a finance company hoarding over me telling me what I can and can’t do. I’ll never have a company, a finance company or a bank saying, hey, we need to call in your loan because we having a cash crunch right now because it’s a pandemic or it’s a recession out here. I’ll never be beholden to somebody else and tell me or to tell what my family is gonna do.
My family will never not have a roof over their head in order to ensure that the elements ain’t getting on them. Not happening, can’t happen. You know why? Because I always think business first and I’m always about my business. I’m about my father’s business which means I’m about my business which means that all of my people are gonna be beneficiaries of my greatness. If you don’t look at everything from a business perspective, if everything you do, you tricking off on these hoes, you taking vacations while you got debt, you don’t deserve it.
You have not earned the right to be able to do it just because everybody is doing it. And let’s be clear, just because you see the pictures on Instagram don’t mean that these people ain’t broke. These people are broke. Debt is higher than it’s ever been inside of the United States of America. Those people down there in Tampa and North Carolina, God bless them but let me tell you something. They were not financially prepared for a disaster. If anything happens, they can’t survive a month. That’s why everybody mad at FEMA and don’t get me wrong, they should be mad at FEMA but let’s be clear.
For me and mine, I’m never gonna depend on who wins the President of the United States of America in order to ensure that mine is taken care of. I’m never gonna depend on FEMA. I’m never gonna depend on another man. I never wanna put my family in a position if anything ever happens to me that she gotta go and get with another man and ensure she survives. I never wanna put my daughter in a position where she gotta look to another man for resources instead of looking at good character.
That is our responsibility as a people and that’s why I get so sick of the culture sitting there begging somebody in order to make sure that they’re taken care of. No, that’s your right to ensure that you hold them accountable not because you’re under duress but because you are in abundance. You can’t have a conversation with somebody and ask them for something or demand something from them when you’re suffering because they look at you as weak. You’re the one that’s at a disadvantage. The only time that you can negotiate is when you’re in a position of power.
That’s why rich people win is because they’re not looking at it under duress. When you’re begging, you’re at somebody else’s mercy. When you’re in a position of power, you control the narrative. You don’t wanna talk to me, you don’t wanna hear that. Anton, you’re in a position of privilege. Anton, you owe it. No, I just talked that real talk and if you listen to me instead of listening to your mama, maybe your mama wouldn’t be depending on you in order to ensure that she survived because she ain’t got enough in retirement.
You can get mad at me all you want. That’s why you’re depending on the Democratic Party. That’s why you waiting for a handout. That’s why you need her to get you $1,500, $6,000 to take care of your baby. I don’t want your money. When they was giving out them STEMI checks during the pandemic, I ain’t getting no STEMI check. I don’t want your money, your blood money. You can’t give me nothing. You work for me. How you gonna give me my money and you getting paid by me to taxpayers? You ain’t never had a private job in your life.
You ain’t never did nothing. You ain’t never built nothing. How you gonna tell me about a union member and you ain’t never worked in a union? How you gonna tell me about how to build a business and every single story that you tell me is based off of something that you heard from somebody else that you seen somebody else did? Yeah, my Nana’s best friend owned a business. You don’t know nothing about a business. You ain’t never employed nobody. You ain’t never tried to do nothing. You ain’t never even failed at trying to build a business because you don’t even know what that feels like.
You don’t even know how to set it up. You ain’t never paid taxes. You ain’t never paid nobody. Ain’t nobody ever depended on you. Can’t nobody depend on you. Can’t nobody even call you $4,000 if they need it. And we supposed to elect these people as our leaders and they have no real life experiences outside of what other people has given to them. We have to change our mindset. We got to change the way that we communicate. We have to change the way in which we’re influencing people. We have to change the leadership. We have to force people to show them, show us their receipts, how you gonna give us advice on how to be successfully married and you can’t hold down a relationship.
We sitting here buying books from people that’s failing in every single aspect of life outside of making money. And then we find out that the money that they made was blood money. We got to change our mindset, change our leadership, change the people that we look to for inspiration. Don’t look at inspiration as a car. It’s the how you got it that matters. It’s the why. Your why and your how matters more than whether or not you have it. Because the option to buy it and choose a not to is just as powerful as if you got it to floss for everybody else.
I don’t care if you did it and failed. I care about whether or not you was in a position to do it at all. I don’t care if you do it and fail. I care about whether or not you was in a position to do it at all. We got to change our mindset. We got to change our mindset and context matters. So when you see people throw around these terms, pay yourself first. Generation or wealth. All of this stuff, they just talking. They can’t give you no insight. They can’t give you no context.
And that’s why I’m about to go on tour and destroy everybody. You about to see me pop up on a lot of places and a lot of shows and whoever is in front of me, they’re going to fall. And they’re going to fall gloriously. I’m going to destroy them because my job at this point is to tear down the very thoughts, the very system, the very culture that you thought was normal and to give you a replacement. I’m going to give you the blueprint to what success looks like. One by one, day by day.
They can’t stop us. I told you that we was at the tip that we was just starting. We was just getting started with what this thing was going to be. Now you see the movement moving. Now you see the visibility. Now you see the acknowledgement. Now you see people getting in touch with me. The top of the top. The top of the top is reaching out to me. And time. Can we collaborate? No, I don’t want to collaborate. I’m going to do this the same way that I’ve been doing it the entire time.
We’re going to do it my way or no way because I worship no man. I subject myself to no agenda. I do what I do because I seek my guidance from God and that’s it. And we are at the very beginning of what this is going to be. So thank you guys for continuing to join me. Thank you guys for continuing to take this journey with me. I love you. I appreciate you. And I’m so glad that I got your loyalty because I’m loyal to you. I’m loyal to you. I never change.
I’m an improve, but I’m a never change. Y’all hit a like for the algorithm. Subscribe to the channel and turn on your notifications. [tr:trw].
See more of The Millionaire Morning Show w/ Anton Daniels on their Public Channel and the MPN The Millionaire Morning Show w/ Anton Daniels channel.
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