 Good morning. Hey, how's it going everybody? How you doing? I should say good afternoon Welcome to my channel. My name is Russell Moore and you've reached dedicated to financial literacy I'm just so excited. I'm excited about what God is doing. What's he's gonna be doing? Not just in our country, but in the state of California, but Spiritually physically might financially Emotionally, I believe he wants to touch every part of our lives. Okay, but this channel is definitely more so dedicated to financial literacy and teaching and Really what I want to say is Investing hacks is what this is about. It's particularly for new investors Retail investors new investors. No, I'm not looking for the institutional investor. They're not gonna watch this channel Anyway, this is this is definitely this is this channel is for people that have just come into the stock market or you just are having financial problems and financial issues and you Just want to hear somebody Give some solutions To your to your drama How many of you out there have some financial drama? You know one of the things I wanted to talk about today and I'm going to talk about a few things I'm just going to share from the heart concerning finances um my niece right now lives with me and uh extremely intelligent very smart and um And and she was coming in here in my room and we we've been sitting here talking about finances and stocks and and uh Options and she wants to do all these things and she's really excited about Investing and so I was just encouraging her and I'm going to say this to you I'm going to say this to everyone. I say this all the time This is the model of this channel and that is you will not you will not earn if you do not learn Now it's got to be more than learning After you learn you got to put it into practice. You got to practice what you've learned So I always tell people, you know, don't just be don't just get your preach on Get your live on You know, yeah, you know after you after you get the knowledge Practice what you're getting and that way it'll become a part of you. Okay? So I real quickly Uh the last the last Episode that I spoke and I want to encourage everybody. Please hit the subscribe button Ding the bell so you'll get content Hey, give me a thumbs up thumbs down. You don't like it. I hey I can take it. I'm a big boy Really big boy So, um But I really want to thank you uh But I really want to just help everyone I want to help everyone that listens to this channel and listens to the sound of my voice um We were talking about not being taught As an african america I was reading this book the other day And the book was dealing with swing trading and the author was saying how when he was like five or six years old He saw his father He would see his father reading the newspaper Every day looking at stocks and calling it stockbroker and And and then he when he was about 10 or 11 years old He asked his dad to put a buy a stock for him And I you know, that was so foreign to me and me and my niece We were talking about the same, you know, we were talking about this, you know Just the african american community Nobody taught us about the stock market And finances and Now my dad was good with finances and my dad had some bonds Um, he had some savings bonds back then Um, I don't know if he was ever into the stock market if he was he never told me about it And my dad was a great man. He was he was great, but when it came to financial literacy, he never taught me anything My dad was a saver, but he didn't really my dad gave me this advice about money He said what you have to do wrestle is hide money from yourself My dad used to say that all the time. I never but I didn't get it. I I I you know what? Now I do What he was saying is Put money away somewhere And make it nearly impossible for you to touch it One of the things you have to do financially You have to admit number one. You have to admit where you are financially Don't try to be something and make everybody think you're where you're at at a certain place that you're not Don't do that Be where you are. It's okay Everybody starts somewhere and most at the bottom Unless you've got some rich father or family member and you inherited something Of great wealth. No, you know, most people have not done that Many people have acquired student debt so Be number one be very honest with where you're at financially if you've acquired a lot of debt Some of it wasn't you know, you school debt. You had to go to school. You had to get your degree. Okay, I get it Okay, that's that debt to me is not your fault. You were investing in your future Okay, but if there's debt there that you know, okay I got this credit card And I just went on a spending spree About everything that I wanted and I desired and now I have found no satisfaction in the things that I've purchased Those are your bad choices. Okay, so there is good choices and bad choices But it is accumulated the debt has accumulated So what you want to do is admit and say, hey, I made some bad decisions here How do I stop making these kinds of choices? And one of the things that you have to be able to do to find be financially free Is you have to be willing to fight yourself And discipline yourself and say no No Starbucks I'm only going once this week. I'm not going to go every day I will go to the store and buy food And purchase food with inflation the way it is. I don't know You're still gonna come out better versus going to fast foods I know it's easier. I know it's simpler. I know I did it for years And I know how to cook my dad was a great cook and taught me Now I said no, I'm cooking for I cook for my family I cook I go to the store You'll save so much more money and it'll free you up to be able to invest more Okay So be willing To look at yourself look at your finances and say look I've made some bad decisions Nobody's judging you. I'm not here on this channel to judge you But we do have to make a change especially now You have to make a change now gang. I'm telling you Let me tell you one of the reasons why here's my next point inflation One of the things I decided to do last Early the well started last year. I started buying cyclical items some of the things my everyday items that I need deodorant toothpaste Toilet paper paper towels my wife my wife's feminine products My son there's different things that he needs on a regular basis where we have to use on a regular basis dawn hand and liquid dish soap I begin to accumulate and stock up Because I knew that inflation was going to come I know that the federal government the federal reserve would love to tell you that we are at 5.4 The last cpi consumer price index said that we are at 5.4 inflation That is not true I know I can get in trouble you two for just saying this but that's just not true I believe we're more around 7% look at your gas prices here in california We're at five dollars Look at the items that you're purchasing there more So here's my next point And i'm going to get off my rant after this Instead of putting your money Oh chase is not going to like the city bank wells fargo. They're not going to like me saying this But maybe they'll change The banks want you to put your money there But they're not paying you any interest So you get paid you get a paycheck and you put it in a bank account First of all you're checking account. You're not getting any interest from that and you're being charged a fee You're getting charged a fee monthly Did you know that society particularly the youth is starting to get away from checking accounts and bank accounts FinTech is the future Is the future And the banks know that If you put your money in a savings account, it just sits there It's not the interest I haven't even checked the last time I checked it was zero zero point five something I think it's it's less than that. You're not getting 1% when you put your money in a in a savings So that your money begins to compound So guess what if you're putting your money in a savings account a bank account savings account You're actually losing why because inflation is going up So your dollar is in the savings account. You got ten dollars well This box of cereal was costing last year three eighty nine You got ten dollars, right? Now this is four eighty nine Your savings account now is nine dollars You want to take this money? Why not put it in a stock market? The s and p 500 on the last hundred years averages nine percent yield one every year Nine percent. So let's let's take that nine percent from your savings, right? It went up a dollar Okay, it went up Seven percent. Let's well, I'll we'll say what the feds are saying five point four percent In the savings account you're losing Your dollar is actually losing But if you're if you're in the stock market just an s and p 500 and etf spy sp y Invest in spy just that alone Nine to ten percent You're at least gaining four percent Inflations at five you're at nine. You're at least gaining four percent on your money Get out of that savings account With all you can here's my last thing Start looking at property Many people out there think they can't get a home That you're looking at you're looking at You're looking at your debt. You're looking at your your credit score. You want to clean all that up as much as possible But don't wait Do you know the fha? The limits your credit limits the credit the credit base for fha loan is five twenty Now you don't want to be at five twenty Try to at least get it to 60 You know an fha Just if you can get it up to six hundred You're credit up to six hundred get rid of some of that debt save a little money put a little money up Put a little money begin to save money begin to save money Three percent three point five percent. It's all you need to put down three percent for an fha All right So that's it. That's my that's my tidbit for today That's my hack my investing hack for today Again, I want to tell you, you know, we love you We love you hear it definitely Definitely Oh, wow I'm laughing because That's my son's daycare Definitely learning Maybe I should change the channel to definitely learning. No dedicated to financial literacy I'm Russell more. I'm out of here. Love you very much. Have a great prosperous week continue to do what is right continue to choose right All right, the next The next episode we'll talk about probably talk more about inflation Some hacks some investing hacks you can do to To win even in the midst of inflation We'll talk about gold gold is a hedge against inflation Back to you later. Have a great day