UBROOOO40
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How are your
finances, do you want to know
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how to make some changes
in your financial picture?
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Well, stay tuned for some tips
on how to get it together...
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My name is Yvonne
Lewis and you're watching
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Urban Report...
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Hello and welcome
to Urban Report...
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My guest today is Cordell Thomas
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Founder of Access
Foundation and the host of
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Dare to Dream's
Money Management Program
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Take it to the Bank...
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I caught him on the
set of Take it to the Bank,
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and here is
what he had to say...
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As you know,
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if you watch Urban Report...
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I love to go on the
Sets of the different
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Programs and interview
the hosts on their Set...
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and today, I have the privilege
of interviewing Cordell Thomas
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the host of Take
it to the Bank...
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Hi Cordell... How are you?
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Great... we're so
glad that you're here
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and doing such a wonderful
job of Take it to the Bank...
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Thank you for
letting me be here...
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Absolutely... okay... so
I've got some questions for you
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and they actually...
because Dare to Dream
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really focuses on
inner-city challenges
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and particularly...
inner-city relationship
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challenges...
financial challenges...
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I'd like to talk to
you about a specific issue
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and that is...
those that have been
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incarcerated... when
they come out of jail...
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what are their options...
I've heard so many stories
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about men coming out of prison
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and not being able to find a job
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they want to work but
nobody wants to hire them...
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because they're ex-felons...
what are their options...
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because people need to
know about resources...
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what's out there for them?
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I think number one would
be... be open to assistance,
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and realize that
there are some programs
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that are out there that
are quite interesting...
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Hmmm... the one
that we're working on
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in California has a
coach that helps individuals
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and they provide
them a litany of services
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a variety of services
such as... legal help...
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such as... job placement
such as... savings-match program
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such as a variety
of things as well as
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overcoming those
barriers to the work environment
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so I would ask
them to get involved
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with those types of programs...
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But how does a... you know...
you just come out of prison
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how do you even
know where to go?
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Where are the resources?
You don't... you don't...
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What's the name of the Program
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and how do I find it
and what's the process
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so, let's start with
that... what's the name
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of a Program that does that?
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For example, there
is a Program called an
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Independent Development Account
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which is a savings-match program
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Okay... is it Federally funded?
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It's Federally funded
to specific non-profits
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in that geography or location,
there are specific stipulations
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for getting access to
the Program such as...
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you will need to sit through
a financial literacy course,
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for five or six
hours... Is it hard?
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It's not hard at all to
get into the actual literacy
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program... because... to
understand how money works
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we want to give you
that type of education...
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now, we've been qualified to do
it in several locations already
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so that... once they
sit through my Program
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they're qualified to get
access to those programs...
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Ah... so you'll be able to offer
that service to ex-offenders...
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That's correct...
yeah... Oh, that's wonderful...
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in fact we're doing
that through an Organization
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a non-profit in
California that works with...
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they call it a
Project Fatherhood
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and/or other types of projects
that are associated with
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people that are
coming out of incarceration
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and it's quite interesting
because you sit with them,
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and provide that
type of information
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and it's nice because
we are actively engaging
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with these young men... and
you can see it in their eyes
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once they
engage... they understand...
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the consumer
versus producer, Ah...
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and what excites them
is the Savings Match...
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because I said, if you
want to start a business,
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Right... if you
reach your savings goals,
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they will write you a
check... match the amount...
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and send it to that Organization
that you'd like to start
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the business with...
Wait a minutes... so now...
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okay... so this is exciting...
because now you're telling me
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that someone
comes out of prison...
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and they can
actually receive funding...
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to start a
business... Yes, with certain
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pre-qualifications...
that is exactly right...
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Okay, so, some of
the pre-qualifications
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are of course
the six-hour course?
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Yeah... Are there
other stipulations
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for them that you know
of... right off the bat?
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Yes... there'll be
income qualifications...
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Okay... if you
make a $100,000 a year
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or more... you're probably not
going to get into the Program...
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if you are a Ph. D. or Master's
you probably won't get into
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the Program... but
if you don't have your
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High School diploma
yet or may have your GED
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and working on a college degree,
you can probably get access
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to the Program if you fit
some income requirements...
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so if you typically make $45,000
$20,000 a year or less...
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depending on
the specific program
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so, there'll be
variables involved,
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but "yes" to
answer the question,
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yes, they could
find access to funding...
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see that's
incredible because I remember,
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when I was living in
Dallas, and I remember seeing
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a job fair Ad... and actually...
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there was a news report
about a job fair that was being
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held for ex-felons...
and one of the fallacies...
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is that... well...
they don't want to work...
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Well, that's not true...
the line went around the corner
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so, it's not a matter of
people not wanting to work...
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it's a matter of them
A. not knowing about the
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resources available...
and not being able to be
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tapped into those
resources, because...
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they don't even know about them,
so this is such great news...
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Let's talk a little
bit about the matching...
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because what is that about...
what is the funds-matching deal,
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how does that work?
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They want to start the
process of getting people
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in the habit of
saving money, Hmmm...
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so what they do is that
they set up a bank account
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for the individual... and
if the individual will save
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every month... they have a
goal that they need to meet
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for savings... and
they can't touch that money
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until they reach their
goal... even after they reach
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the goal... what happens
is... you make a selection
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of what you want the funds
for after you reach your goal
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so if you want it for
down payment on the house
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if you want it for a new car,
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if you want it for
tuition for college
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or if you want to
start a small business...
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you select that up-front...
depending on the Program...
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now there are programs
that will give you a 2 to 1
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3 to 1... there's
even a 4 to 1 match...
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so if you save $2,000
you can get an $8,000 match
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and you'll have $10,000
written towards a car...
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written towards tuition,
written towards specific
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your goal that you
would like to have had...
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It's amazing... oh, so
the money isn't coming to you
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it's going to...
that goal. Exactly...
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Like if it's a tuition,
it goes toward the school...
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Yeah... you should
see the eyes the light
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how it lights up
in people's eyes...
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Come on... tell me... tell me...
I leave a lecture and I walk
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I'm walking away
because they have other types
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of groups they
have that are meeting,
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but they'll run out the room
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after you and say,
"Hey, I'm interested in that,
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can you tell me more... I'd
like to be a part of that...
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I want to become a Producer...
can you show me how to get it,
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to the form of
that match program"
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and it's exciting to see
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that they're engaging... Yes...
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and these are
smart men... Oh yeah...
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they know and they understand
but there are barriers
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to employment that
they need to overcome
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and there are resources
that they can be linked to
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to help them get
there... That is such a critical
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critical piece... to know
that A. there are resources...
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first of all...
they know the barriers...
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because they're confronted
with them all the time...
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we, as people
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who have not had those issues,
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don't necessarily know
what those barriers are
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we've not experienced that...
but they get it all the time,
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so, it's so great to know
that there are some resources
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out there that are
available to them...
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can you tell us a
story or an incident
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where you know of someone
that's taken advantage of one
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of these programs and they've
had some kind of success with it
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I've been told of
several situations
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of young people... 18 or
above is pretty much the case...
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but they have been
involved in the match...
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they've successfully
got to their objective,
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they got the match
funded towards purchasing a car,
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for example, Hmmm...
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I know of some situations
where one has had the match
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towards putting a down
payment on the house...
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that was nice... for the family
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to have a place to stay,
so there are several success
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stories... and if
they would like to call
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me or go to the
website, I can link them to many
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success stories that
have formally been...
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have happened over
the past several months...
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and years from this Program...
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That's tremendous...
you know there's a gentleman
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an Adventist
gentleman in California
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who has a Program...
he was building prisons...
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and in his prison...
this was so touching to me,
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because, he had a specific
kind of prison going on...
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at first the prisoners were
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allowed to use...
like... they were on one wing
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of the facility...
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and they were called
by their last names...
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they were given respect,
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their diets were changed,
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it was a Point System...
and so, if they didn't have
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any violent
issues, they got points,
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if they did certain
things, they got points,
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and they found
that the crimes and the
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violent outbursts
were so minimized on that
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in that part of the Facility,
that it was just amazing...
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their diets changed, they
were introduced to the Lord
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so many things
happened and... then... oh...
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it's Terry
Moreland... thank you Lord...
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I was trying to
think of his name
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Terry Moreland has these homes,
so, okay, so after you get
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out of prison, then...
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you can be a part of
this particular Program...
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with this Program...
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and I went out to California
and saw these homes...
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with this Program,
you're trained while you're in
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prison to build homes, so
that you build your own home,
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you build a
home for your family,
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so you come out from
there and you're building a home
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for your family and
we're not talking about
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like a matchbox home...
we're talking about a house
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that has marble
countertops and all that...
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and all you have to
do... to stay in it...
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is... you have to
keep out of trouble
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you can't have any
issues with the law...
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and you have to
continue to pay the rent...
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but you can work at
McDonald's and afford it...
00:11:44.47\00:11:47.39
so, it's giving people... so
the recidivism rate is so low
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because you're giving
men a sense of dignity...
00:11:52.66\00:11:55.20
you're giving
them an opportunity
00:11:55.23\00:11:57.02
to take care of their families,
00:11:57.06\00:11:58.76
you're giving
them an opportunity
00:11:58.79\00:12:00.45
to build their own homes,
00:12:00.49\00:12:02.15
these are the
kinds of situations
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and things that we...
resources that are available...
00:12:04.75\00:12:08.65
and some people would say,
"Well, who cares about them...
00:12:08.69\00:12:12.68
they've made mistakes,
they messed up with Society... "
00:12:12.72\00:12:16.68
suppose God said that
about us, Wow... yes...
00:12:16.71\00:12:19.28
right... who cares about them,
so, this Program is so valuable
00:12:19.32\00:12:27.15
and the one that you
mentioned with the matching
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it's not even a loan... it's
matching 2 and 3 and 4 times
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what the ex-offender
has... that's tremendous...
00:12:36.50\00:12:40.68
Yes... and with that...
00:12:40.71\00:12:42.07
we'll be able to
see... a lowered crime rate...
00:12:42.11\00:12:45.90
it's critical because
if we don't do something...
00:12:45.93\00:12:49.16
to change things...
people are just going to be
00:12:49.19\00:12:52.15
in this system... over
and over and over again...
00:12:52.18\00:12:55.10
so tell us about
some additional resources
00:12:55.14\00:12:58.69
that are
available because that...
00:12:58.72\00:13:00.17
what I just mentioned
was just one Program...
00:13:00.20\00:13:03.08
but I know that you
know several Programs...
00:13:03.11\00:13:05.92
tell us about some other
things that are available...
00:13:05.95\00:13:08.11
Sure, there was
a book that I read,
00:13:08.15\00:13:10.09
a little while
back, it's called,
00:13:10.12\00:13:11.93
"Why don't they just get a job?"
00:13:11.96\00:13:13.68
Hmmm... it's talking about those
00:13:13.71\00:13:15.36
that are willing and
able to work but they have
00:13:15.40\00:13:18.15
barriers to
that success, Hmmm...
00:13:18.19\00:13:20.03
as we've talked about it, I
tried to get some experience
00:13:20.06\00:13:22.58
with some of our
foster-care youth
00:13:22.62\00:13:23.98
in California which was a
very revealing experience...
00:13:24.01\00:13:27.86
so there are a
variety of services
00:13:27.89\00:13:29.87
that are now
becoming more available...
00:13:29.91\00:13:31.58
Mental Health Issues,
the issues to transportation,
00:13:31.61\00:13:34.98
family concerns... when we
talk about self-sufficiency
00:13:35.01\00:13:38.34
and people being
able to carry their own
00:13:38.37\00:13:40.08
after they get out of
a difficult situation,
00:13:40.11\00:13:42.28
that's one of the challenges
00:13:42.31\00:13:43.73
we found and for
across the United States,
00:13:43.77\00:13:47.11
each specific market...
the cost of living can change
00:13:47.15\00:13:50.92
substantively... so in
Los Angeles, Riverside,
00:13:50.95\00:13:53.63
where I come from... the
cost to exist with a family
00:13:53.67\00:13:57.62
with three children,
one may need Day care...
00:13:57.65\00:14:01.01
one may need Kindergarten care,
one may be in Grade School,
00:14:01.04\00:14:04.63
can be upwards of
$55,000 to $60,000 a year...
00:14:04.67\00:14:07.51
and so there needs
to be some benefit...
00:14:07.54\00:14:10.28
to bridge the gap
for any type of family...
00:14:10.31\00:14:12.98
that needs tax incentives,
that needs Day care...
00:14:13.02\00:14:16.52
that needs
transportation to get them
00:14:16.55\00:14:18.84
to the work
environment... and also,
00:14:18.88\00:14:21.10
they need a Step-up
Project where they can go from
00:14:21.13\00:14:24.02
$8 an hour up to
$15 or $16 an hour
00:14:24.06\00:14:27.44
that may be beneficial
to help them make ends meet
00:14:27.47\00:14:30.48
in a better way...
the Program that I see
00:14:30.51\00:14:33.09
as really
beneficial is some of the
00:14:33.13\00:14:35.31
financial literacy programs
surrounding financial literacy,
00:14:35.35\00:14:38.46
the kids are not necessarily
getting everything they need,
00:14:38.49\00:14:41.57
from the standpoint of
what money is really about...
00:14:41.60\00:14:44.84
it seems to be more of a
watered-down perspective...
00:14:44.88\00:14:48.08
and so we've
developed a curriculum
00:14:48.11\00:14:49.72
for these young people
and we're beginning to see
00:14:49.76\00:14:52.30
a really good
response from the kids...
00:14:52.34\00:14:54.67
now, it's incentivized
now especially for those
00:14:54.71\00:14:57.86
18 and above...
that if you sit through
00:14:57.90\00:14:59.91
the four different
parts of the Program,
00:14:59.95\00:15:01.89
you are now qualified to get
into a Matching Savings Program
00:15:01.93\00:15:05.33
and when they understand
that they can get free money,
00:15:05.36\00:15:08.32
they will typically stay and
come to the different programs,
00:15:08.35\00:15:13.55
For sure... so
now you get them...
00:15:13.58\00:15:15.05
Hmmm... hmmm... and now
we ask them three things
00:15:15.08\00:15:17.36
I'm revealing
part of the curriculum
00:15:17.40\00:15:18.94
but we expect them to listen...
for the audio people... a little
00:15:18.97\00:15:23.43
we expect them to use
the visuals that we use,
00:15:23.47\00:15:26.36
for those who like to see
things and learn from seeing...
00:15:26.40\00:15:29.94
but they all need to
engage in the conversations
00:15:29.98\00:15:33.44
and we use relevant
topics on an ongoing basis
00:15:33.48\00:15:36.91
that makes the
learning... a reality...
00:15:36.94\00:15:40.43
so we talk about
take-home assignments,
00:15:40.47\00:15:43.89
go and watch this
YouTube video about this...
00:15:43.93\00:15:47.67
or about these sports people,
or these types of things...
00:15:47.71\00:15:50.22
and we'll come back
and talk about it...
00:15:50.26\00:15:52.20
from the context of
finance... or how about taxes...
00:15:52.24\00:15:56.29
do you know that the
football players get a...
00:15:56.33\00:15:58.47
over their lifetime...
make about $60 million a year?
00:15:58.50\00:16:01.38
I mean, $60 million over the
course of their 3 to 5 years...
00:16:01.41\00:16:04.97
in the league...
but... they spend as if
00:16:05.27\00:16:08.90
they've made $60 million...
but they forget that taxes are
00:16:08.94\00:16:12.45
a part of their lives...
so they're spending at 60...
00:16:12.48\00:16:15.34
but they're only going
to be bringing home 30...
00:16:15.37\00:16:17.68
Hmmm... that
creates a problematic
00:16:17.72\00:16:19.92
cycle for these
wealthy individuals,
00:16:19.96\00:16:22.10
and then you talk about...
look at some of these actors
00:16:22.13\00:16:25.46
or actresses who've had their
bank account seized by the IRS
00:16:25.49\00:16:29.03
because they haven't paid
taxes, and there are a lot
00:16:29.06\00:16:31.66
of those conversations...
and because they
00:16:31.69\00:16:33.83
identify with these
people on a daily basis...
00:16:33.87\00:16:35.94
they see them on television,
on movies and what not...
00:16:35.98\00:16:38.35
they can now be in a
relevant conversation
00:16:38.39\00:16:41.55
which is a third part of it...
is they have to interact...
00:16:41.58\00:16:44.25
and when you find...
and you see the kids...
00:16:44.28\00:16:46.77
or young adults
beginning to engage...
00:16:46.81\00:16:49.34
Hmmm... and talk back and forth,
00:16:49.37\00:16:51.04
that's where the
learning happens...
00:16:51.08\00:16:52.67
And these are at-risk
youth... are they not?
00:16:52.71\00:16:54.72
Yes... yes... they
are at-risk youth...
00:16:54.76\00:16:55.91
and these are young
people that have been in and out
00:16:55.94\00:16:58.85
of the Foster-Care System?
00:16:58.88\00:17:00.20
They could have been in and
out of the Foster-care System
00:17:00.23\00:17:02.69
or they've just been
in a difficult environment
00:17:02.72\00:17:05.05
with family that have been
in under-served communities...
00:17:05.08\00:17:07.43
How important is
it... for young people...
00:17:07.47\00:17:11.49
at-risk or not to
know about... finances...
00:17:11.52\00:17:15.51
how important is that?
00:17:15.54\00:17:16.90
I was doing a lecture
and there was a young lady
00:17:16.93\00:17:19.94
sitting to my
left... I can remember...
00:17:19.98\00:17:22.40
smart African
American young lady...
00:17:22.43\00:17:24.79
but as we talked about
00:17:24.82\00:17:26.85
what was going to go on
00:17:26.89\00:17:28.84
this summer... it was a program
00:17:28.88\00:17:30.76
that had provided jobs
for these young people...
00:17:30.79\00:17:33.19
that's what it
was... so we asked,
00:17:33.23\00:17:34.86
"How much are you
going to make this summer?"
00:17:34.89\00:17:36.17
many of the kids didn't
know... she already knew...
00:17:36.20\00:17:38.45
"At $8 an hour, I
am going to make $1,750
00:17:38.48\00:17:42.04
over the course of the summer. "
00:17:42.08\00:17:43.18
so I said, "How many of
you already spent the money
00:17:43.22\00:17:45.51
you've made?" she
raised her hand...
00:17:45.55\00:17:47.28
"I know exactly what I have
budgeted to spend my money on. "
00:17:47.31\00:17:50.58
How old was she now?
She must have been 15...
00:17:50.62\00:17:52.81
now... I believe,
she's about... she's still 15
00:17:52.84\00:17:54.96
unless her birthday happened
between last June and today...
00:17:54.99\00:17:57.60
so a lot of this is
relevant... I don't know exactly
00:17:57.64\00:18:00.24
how much she saved
this past summer...
00:18:00.27\00:18:02.22
but at the end of the lecture,
00:18:02.26\00:18:03.80
I was able to ask
several questions...
00:18:03.84\00:18:05.46
"You have all $1,750 already
allocated to buy certain things
00:18:05.50\00:18:10.98
correct?" "Yes, I do... "
00:18:11.01\00:18:12.43
What are you buying?
"Oh, I'm buying a Tablet...
00:18:12.47\00:18:15.35
or I'm buying a SmartPhone...
00:18:15.39\00:18:17.28
and I'm buying this and
that... and the other... "
00:18:17.32\00:18:19.33
I said, "So, you have
spent all of your money
00:18:19.37\00:18:22.44
that you're bringing
in... how are you going to pay
00:18:22.48\00:18:25.32
for your SmartPhone Plan?
00:18:25.35\00:18:27.58
How are you going
to pay for that Tablet?
00:18:27.61\00:18:29.96
How are you going to
pay for internet access?
00:18:29.99\00:18:32.27
How are you going to pay
for emergencies that happen
00:18:32.31\00:18:34.94
when you have to fix your car
00:18:34.98\00:18:36.69
when you're
driving back and forth?
00:18:36.73\00:18:38.00
These are difficult
questions that we asked her...
00:18:38.04\00:18:41.91
and she didn't know
how to address it...
00:18:41.95\00:18:43.44
I said, "One of
the basic issues... "
00:18:43.48\00:18:45.01
and we went into a conversation
00:18:45.04\00:18:46.50
about what happened with
the famous football player...
00:18:46.54\00:18:48.63
and then the
reality started to hit...
00:18:48.66\00:18:50.49
I challenge the young people,
00:18:50.53\00:18:51.74
"Look, any one of you that
saved the most this summer,
00:18:51.78\00:18:57.90
I will provide
you a benefit... "
00:18:57.94\00:19:00.45
the benefit was... increased
00:19:00.49\00:19:02.78
savings rate at a local
bank... the bank approved it...
00:19:02.82\00:19:05.57
and agreed to it... so
I still need to go back
00:19:05.61\00:19:07.61
and find out who
saved the most money...
00:19:07.65\00:19:09.81
but she came back at
the end of the Program,
00:19:09.85\00:19:11.98
the lecture... and she said,
00:19:12.02\00:19:13.86
"Mr. Thomas, I am going to
save half of what I make... "
00:19:13.90\00:19:17.70
she had toned down her budget
and she wasn't going to get
00:19:17.74\00:19:21.45
everything on her list...
and I think that was a success.
00:19:21.48\00:19:25.16
That's major...
And we find that people
00:19:25.19\00:19:29.38
love that sharing...
00:19:29.41\00:19:31.27
because when I came back
00:19:31.30\00:19:33.09
to another group...
and asked them about
00:19:33.12\00:19:35.56
the Twenty-ten Rule
or the Rule of 72...
00:19:35.60\00:19:37.73
which you bring up in
these conversations...
00:19:37.77\00:19:39.87
when they are dialoging
00:19:39.90\00:19:41.81
and listening and
asking questions...
00:19:41.85\00:19:43.42
they retain the
information a lot longer...
00:19:43.46\00:19:45.77
Tell our viewers
what's the Twenty-ten Rule...
00:19:45.80\00:19:48.12
Twenty-ten Rule is
basically... I'm going to...
00:19:48.16\00:19:50.05
I have to limit my amount
of debt... on an annual basis
00:19:50.08\00:19:53.23
and on a monthly basis...
so, twenty percent of my income
00:19:53.27\00:19:56.38
has to go... to pay
back 20 percent of my debt
00:19:56.41\00:19:59.13
on a monthly basis,
and ten percent of my
00:19:59.16\00:20:02.33
annual yearly income
should go back to pay debts
00:20:02.36\00:20:05.97
on a yearly basis.
00:20:06.01\00:20:07.14
I see... So, you
now have a measure
00:20:07.18\00:20:09.14
of how much debt
I should take on...
00:20:09.18\00:20:11.08
a comfortable debt
that I should take on...
00:20:11.11\00:20:13.34
What was the other seventy...
Rule of Seventy two...
00:20:13.37\00:20:15.82
is considered the 8th
Wonder of the World...
00:20:15.86\00:20:19.29
Einstein actually
brought it up and basically...
00:20:19.32\00:20:22.71
if you divide the
interest rate into 72...
00:20:22.75\00:20:25.60
you can get... how
many years it will take
00:20:25.64\00:20:28.42
to double your money...
the same as if you divide
00:20:28.45\00:20:31.55
72 by the number of
years, you can come up with
00:20:31.58\00:20:34.64
an interest
rate... you need to target
00:20:34.68\00:20:35.99
to get... to double
your money so if you have...
00:20:36.03\00:20:38.71
let's come up
with a good number...
00:20:38.75\00:20:40.47
if you have an
interest rate of 8 percent...
00:20:40.50\00:20:42.44
Hmmm... hmmm...
and you have $10,000
00:20:42.47\00:20:44.75
that you put away
into a savings account...
00:20:44.78\00:20:47.36
and you're getting
8 percent interest,
00:20:47.39\00:20:48.84
then you take 8...
the interest rate...
00:20:48.88\00:20:52.60
into 72... is 9... so
your $10,000 at 8 percent
00:20:52.64\00:20:57.43
interest... compound interest,
it's compound interest,
00:20:57.47\00:20:59.55
Hmmm... hmmm...
will double over the next
00:20:59.59\00:21:01.81
9 years... and
so, now you know...
00:21:01.84\00:21:03.97
and that's just putting $10,000
00:21:04.01\00:21:05.86
without any additional
funds on top of that...
00:21:05.89\00:21:07.93
That's amazing... and
when they know that...
00:21:07.97\00:21:09.96
all of a sudden... they
light up and start asking those
00:21:10.00\00:21:12.71
questions about "How
can I start a Roth IRA?"
00:21:12.74\00:21:15.73
How can I get involved in this?
then you start tapping into
00:21:15.77\00:21:19.29
"Let's talk to your parents... "
00:21:19.33\00:21:20.57
"Let's talk to your
Financial Planner... "
00:21:20.61\00:21:22.46
"I will tie you to
those qualified individuals
00:21:22.49\00:21:24.31
that can lined up for that. "
00:21:24.35\00:21:25.96
That's
tremendous... see... to me...
00:21:25.99\00:21:27.84
one of the things
that is so important
00:21:27.88\00:21:30.07
about this is... is
that... so many times,
00:21:30.10\00:21:32.22
our kids have no idea
that these things are available
00:21:32.26\00:21:35.66
and to know that they can
00:21:35.70\00:21:37.64
tap into something like this
00:21:37.68\00:21:39.55
and learn about it...
that is just tremendous...
00:21:39.59\00:21:44.51
What do you see... an
inner city person... doing...
00:21:44.54\00:21:48.69
let's say that a
person is on public assistance
00:21:48.73\00:21:52.85
doesn't really...
have that much to budget
00:21:52.88\00:21:57.12
it's a fixed
income because you know
00:21:57.15\00:22:00.16
what you're going to get...
how can you save like that?
00:22:00.20\00:22:03.34
How can you save any money?
00:22:03.37\00:22:05.25
I mean, I would have to look in
00:22:05.28\00:22:09.58
and ask a lot of questions
00:22:09.62\00:22:10.75
and know where
they're at, what they're doing
00:22:10.79\00:22:12.95
what type of
programs and assistance
00:22:12.99\00:22:15.90
are available for them...
00:22:15.93\00:22:17.29
Hmmm... hmmm...
and then of course...
00:22:17.33\00:22:18.52
when you can't
save... when you're spending
00:22:18.55\00:22:21.42
what you make you're
down to the bare bones,
00:22:21.45\00:22:24.28
there are these
matching programs
00:22:24.32\00:22:26.23
that you can qualify
for... that's one of the things
00:22:26.27\00:22:29.04
and then you don't
have to save that much
00:22:29.08\00:22:31.34
but I can figure, I can find...
00:22:31.38\00:22:33.54
$75 for them to
start out with...
00:22:33.58\00:22:35.67
once you start the habit
of that program of saving,
00:22:35.71\00:22:39.30
then, you can get
that money matched
00:22:39.34\00:22:41.70
for a specific
goal and objective...
00:22:41.74\00:22:44.03
and once you get in
the habit of doing that...
00:22:44.07\00:22:46.96
then, the sky is
the limit because now...
00:22:46.99\00:22:49.23
how can I find a better
way of saving in this area
00:22:49.27\00:22:53.17
to help out in
providing additional savings...
00:22:53.20\00:22:56.14
Yes... now... let's
switch gears a little bit
00:22:56.18\00:22:59.09
and talk about
how important it is...
00:22:59.13\00:23:01.27
let's say you started
saving... how important is it
00:23:01.30\00:23:04.58
to give back...
because one of the things
00:23:04.62\00:23:07.62
that I hear is like...
00:23:07.65\00:23:08.72
"Well, I might not
have enough money to give or
00:23:08.76\00:23:12.12
I can barely
take care of myself...
00:23:12.15\00:23:13.68
so how can I give
something to a ministry
00:23:13.71\00:23:16.19
or to a cause... " Why
is it important to give?
00:23:16.23\00:23:19.72
There are studies
on happiness, Hmmm...
00:23:19.76\00:23:23.64
happy people give... Hmmm...
00:23:23.67\00:23:26.68
they are not... but
it's interesting that
00:23:26.72\00:23:29.13
it doesn't matter
how much wealth you have
00:23:29.17\00:23:31.34
or you do not have...
but those that give...
00:23:31.38\00:23:34.25
are happier people,
thus you have individuals
00:23:34.28\00:23:37.08
that give to ministries
seem to be more happier...
00:23:37.12\00:23:39.57
giving to something
that's bigger than themselves
00:23:39.61\00:23:42.34
creates that type of a
legacy that you're doing
00:23:42.37\00:23:45.07
something on behalf
of Christ so once you lay
00:23:45.10\00:23:47.66
that type of
groundwork in there...
00:23:47.69\00:23:49.82
you begin to see people
change their perspectives...
00:23:49.86\00:23:53.51
and the tithing is
really a part of that process...
00:23:53.55\00:23:57.29
but you can give
up and above that...
00:23:57.33\00:23:59.09
because there are
many different needs
00:23:59.12\00:24:00.82
that are out there...
so, when I talk to somebody
00:24:00.85\00:24:04.18
about giving...
I also tell them...
00:24:04.21\00:24:06.31
I tell them that... to
think like a wealthy person
00:24:06.34\00:24:10.08
thinks... has nothing to do
with how much money you make...
00:24:10.11\00:24:13.59
Hmmm... it has everything to do
with how you spend your money,
00:24:13.62\00:24:17.06
how you utilize the
funds that you're given
00:24:17.10\00:24:20.08
a task to manage... if
you're able to manage it
00:24:20.11\00:24:23.12
the right way...
then you find other means,
00:24:23.16\00:24:25.86
of supporting other agencies,
but I also tell them that
00:24:25.89\00:24:30.28
the wealthy are not
likely to buy new cars...
00:24:30.31\00:24:34.10
the wealthy buy 2-
year-old-new cars...
00:24:34.14\00:24:37.83
and it's why they do
that that makes sense...
00:24:37.87\00:24:41.25
they've thought through
that a luxury car is taxed...
00:24:41.29\00:24:45.05
there's a luxury tax
associated with that...
00:24:45.08\00:24:47.96
over a certain
amount... Right...
00:24:48.00\00:24:49.17
you can buy that same car
00:24:49.21\00:24:50.34
two years down the
road for a lot less...
00:24:50.38\00:24:52.10
I avoid the tax... I
get to drive the same car
00:24:52.14\00:24:55.24
with the same benefits...
with the warranty and coverage
00:24:55.27\00:24:57.72
on the car... but I
don't have to worry about
00:24:57.75\00:24:59.82
that tax... that's
smarter thinking...
00:24:59.85\00:25:01.85
you're saving money
from that standpoint...
00:25:01.88\00:25:03.80
and the write-down on the car...
00:25:03.83\00:25:05.77
when you drive a
new car off the lot
00:25:05.80\00:25:07.67
versus taking a two-year-new car
00:25:07.70\00:25:09.50
is substantively different...
there's a whole lot of...
00:25:09.54\00:25:11.73
thousands of savings
when you do it that way...
00:25:11.76\00:25:13.79
That's tremendous
because what you're saying
00:25:13.82\00:25:15.77
basically just... is
that... there is a mentality
00:25:15.81\00:25:18.86
that goes on with being wealthy
00:25:18.90\00:25:21.20
and a mentality that
goes along with poverty...
00:25:21.24\00:25:23.66
That's correct...
there's a Producer Mentality,
00:25:23.69\00:25:26.04
and a Consumer Mentality...
if I can put it that way...
00:25:26.08\00:25:29.02
Yes... If a gentleman or a woman
00:25:29.06\00:25:31.40
that understands
what it is to be wealthy,
00:25:31.43\00:25:33.63
you would never
know they're wealthy...
00:25:33.67\00:25:35.84
Hmmm... they dress down...
00:25:35.87\00:25:37.14
Hmmm... hmmm...
they buy simple products
00:25:37.17\00:25:39.18
they saved their money...
00:25:39.21\00:25:40.68
there are opulent
wealthy people too...
00:25:40.72\00:25:43.23
Hmmm... hmmm... but
those that... and I consider
00:25:43.26\00:25:46.38
wealth of people
that don't have debt...
00:25:46.42\00:25:48.84
that have paid off their debt,
00:25:48.88\00:25:50.28
they know where they are
from a budgetary standpoint...
00:25:50.32\00:25:52.40
and they know what to
do with their money...
00:25:52.44\00:25:53.98
Thank you so
much... God bless you...
00:25:54.12\00:25:55.76
Blessings to you... thank you...
00:25:55.79\00:25:57.41
I always learn
so much from Cordell
00:26:05.17\00:26:08.33
he always has such
practical information
00:26:08.37\00:26:10.82
that we can just
apply right away...
00:26:10.85\00:26:13.23
you know the Bible has
spiritual principles too...
00:26:13.27\00:26:16.69
that if we tap
into those principles,
00:26:16.73\00:26:19.88
we can be
blessed... we are told that
00:26:19.91\00:26:22.48
we should pay our
tithes and offerings...
00:26:22.52\00:26:25.02
and you know, God has
a way of just showing up
00:26:25.05\00:26:30.14
when you get down
to your last dime...
00:26:30.17\00:26:32.74
if you are faithful...
faithful stewards of what He's
00:26:32.78\00:26:35.38
given you... He
will just bless...
00:26:35.41\00:26:37.68
I remember one time
when I was going through
00:26:37.72\00:26:40.72
a severe financial challenge,
and the Lord laid on my heart
00:26:40.75\00:26:44.36
to pay a double
tithe to my Church
00:26:44.40\00:26:46.46
because my Church
was in some trouble...
00:26:46.49\00:26:49.11
and I did that...
and God just blessed...
00:26:49.15\00:26:51.70
I got all of the Pizza
Hut commercials that were
00:26:51.74\00:26:55.97
coming up... I
got the whole campaign
00:26:56.01\00:26:58.46
and so you can't
beat God giving...
00:26:58.49\00:27:00.87
remember that when you
give, He gives to you...
00:27:00.90\00:27:04.77
it's just a circle of
blessing, many times we think
00:27:04.81\00:27:08.06
that just because we are
currently financially challenged
00:27:08.10\00:27:11.32
we have to always
remain that way...
00:27:11.35\00:27:13.64
as you heard from Cordell,
that's simply not true...
00:27:13.67\00:27:17.03
we can do a budget...
take control of our finances,
00:27:17.07\00:27:20.04
instead of
letting them control us...
00:27:20.07\00:27:22.07
remember that there is
a divine plan for you...
00:27:22.10\00:27:25.09
walk in your
destiny, Jeremiah 29:11 says,
00:27:25.13\00:27:29.08
"For I know the thoughts
that I think towards you"
00:27:29.11\00:27:31.24
saith the Lord...
"thoughts of peace
00:27:31.27\00:27:33.54
and not of evil...
to give you a future
00:27:33.58\00:27:35.56
and a hope... " and
then in the King James
00:27:35.59\00:27:37.59
it says, "to give
you an expected end"
00:27:37.62\00:27:39.59
so God has an
expected end for you...
00:27:39.62\00:27:42.37
don't be afraid to give,
don't be afraid to share,
00:27:42.40\00:27:45.85
don't be afraid
to support ministries
00:27:45.89\00:27:48.57
such as Dare to
Dream... such as 3ABN...
00:27:48.60\00:27:51.35
we need you... we
need your assistance...
00:27:51.39\00:27:54.11
well, it's time
for us to close now
00:27:54.14\00:27:56.88
but we want you to
join us next time...
00:27:56.91\00:27:59.45
it just wouldn't be
the same without you...
00:27:59.49\00:28:01.99