From the cotton
fields of Alabama
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to the Corporate Board room...
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stay tuned to meet a
woman who dared to dream
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and wants to share some
financial strategies with you.
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My name is Yvonne Lewis
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and you're
watching Urban Report.
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Hello and
welcome to Urban Report.
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My guest today is Doris Gothard,
Motivational Author and Speaker.
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Doris is the
recipient of numerous awards
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including the
National 4-H Achievement Award,
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Exploring Executive Leadership,
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American Business
Women's Association
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and the YMCA Minority Achiever
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and Woman of Excellence Awards,
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she's the Author of five books
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and today we're going to
discuss one of her books,
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"Finances and Spirituality. "
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Welcome to Urban Report Doris...
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Thank you it is
so good to be here.
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Oh, it's so good
to have you because
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you have so much
information to share and I'm...
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I hate that we just have
30 minutes in which to do it
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because I know...
that you're just going to
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give us so many strategies
and ways to deal with finances
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and we really need
it, we really need it
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but before we get into that,
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I want our
Viewers to know Doris...
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who is Doris?
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So tell us a little
bit about your background.
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Well, you gave a great intro...
when you let everyone know that
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I got my start in
the cotton fields.
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Which is true... it's so true...
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I had a big smile on
my face remembering...
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but I want you to know
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that I took my job in the
cotton fields... very seriously.
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Yvonne: Okay, what did
you do in the cotton fields?
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Well, I was the best hired hand
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that anyone could imagine
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I think I picked more cotton
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than any other human
being on the face of the earth.
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How old were you?
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I was... I think I started
when I was in my mother's womb
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and then when she
gave birth to me...
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I just knew what to do
and I started picking...
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and my hands were
just always so busy...
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just pulling the cotton
out of the cotton bolls...
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I was passionate about it,
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it was my very first job,
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it was the way that I
helped to earn enough income
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to feed my family,
because my grandfather...
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my grandparents
raised me at a very early age
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was killed in an
automobile accident
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by a drunk driver, so
that left no man really...
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in the home... and I
took on those responsibilities
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that I had
observed my grandfather do,
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and so, I can drive the
tractor, I could milk cows,
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I could feed all of
the animals on the farm
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and we made it by God's grace.
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The key is...
that I knew from birth
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with the training
of my grandparents
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that... God was at
the center of their lives
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and I learned about Him
and accepted Jesus Christ
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as my Lord and
Savior when I was about
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six years old... I think it was
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and since that day,
I've been running for Jesus.
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Not the whole time
in the cotton fields
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because I was praying while
I was in those cotton fields
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that the Lord would deliver
me from those cotton fields
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and so He did... and so I
have spent many, many years in
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Corporate America and
now the best job of all
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is just being a
volunteer for Jesus.
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Amen... you know what's
interesting to me Doris...
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is that... you
started at a young age
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in the cotton fields and
you developed a work ethic,
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you developed a
standard of excellence
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because you just said
that you learned to do...
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you took it seriously
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and you learned to do
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all the different
things that your granddaddy did
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and you developed a
standard of excellence
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that's why you got that
Woman of Excellence Award
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probably... by the way...
but that's one of the things
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that as parents... we need to
consider for our children that
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A. we get them involved
in some kind of work early...
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I don't mean slaving... I
don't mean really difficult,
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back-breaking
work... but I mean...
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teaching a work
ethic, teaching how to work
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and also developing
that standard of excellence
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where they're not
satisfied with mediocrity
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that's what I'm
hearing from you that
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you took your little
cotton-picking job seriously
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and you did it
well so you ended up
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in Corporate
America, what kinds of things
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did you do in Corporate America?
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Well, I was a
Manager in Corporate America
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and then, promoted to
an Account Manager Level
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where you have
the responsibility for
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profit and loss,
running a piece of the business
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was one of the
responsibilities that I had
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and to this day... I think
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I still have an
appetite for that...
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and we'll talk a
little bit more later
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but I do have my
own... business...
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it's not so much
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what the challenges that
you've experienced in life...
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as it is... you're
looking at those challenges
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and looking for
the positive in it
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and then taking that and let
that be encouragement for you
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to grow from that
experience and to soar.
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I wouldn't want any of
our listeners or viewers
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to misunderstand...
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working in those cotton
fields was very, very hard work.
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It was indeed, for
me, a type of slave labor
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but I didn't allow the
reality of that situation
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to stand in the way of me
moving toward that purpose
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that God had for me in my life
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and so I don't look
back with any regret
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as a matter of fact
it helped me to become
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the person that I am today.
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I have an excellent work ethic,
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I woke up early in
the morning and always had
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a list of things to
accomplish for Jesus.
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Amen, you know, again,
taking from what you just said,
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if you look at the
way you mentally framed
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what you were doing, you
see, I think that we can either
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accept certain things
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and take it from a
negative perspective
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or we can apply a
positive spin on it,
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we can either say,
"This is back-breaking
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and I'm not going to
get anything from this"
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or... "What can
I get from this?"
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"What is this teaching me?"
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"How can I use this situation
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to take me from
Point A to Point B?"
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That's what you
did, by the grace of God,
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that's what you did.
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You went from the cotton
fields to the Board Room.
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Doris: Absolutely
Yvonne: You dared to dream...
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Doris: That's right...
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Yvonne: Yes indeed, yes indeed.
Doris: And I'm still dreaming.
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That's right, that's
right because it never stops
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and because you walked
in your divine destiny.
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That's one of the
things we talk about
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on Dare to Dream, a lot...
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on Urban Report... a lot...
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walking in your divine destiny
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and one of those
things is you have written
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several books and we're
going to show those books later
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but I want you to talk about
finances in spirituality first
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because I think that...
that we have so many issues
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in the inner city and in the
black community with finances,
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just... Americans
across the board do...
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but I think we have
some staggering numbers
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in the black community, and so,
what led you to write this book?
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Well, my desire and passion
was to serve and to help others
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and also because
of my own experience
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having grown up the
way you've described,
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as a poor family in Alabama
having to work very, very hard,
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I have always felt that we
can teach people many things
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and especially in the
African American family,
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but if you don't teach
people how to manage money,
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it's not how
much money you make...
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it's how you manage that
which God has entrusted you
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to care for and I was convinced
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that you cannot separate
the material and the physical
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in life, if you want to be
successful from the spiritual
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and so I think that
there is a divine connection
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between the
physical and the spiritual
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and the person who connects it
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and is the glue between
those two... is Jesus Himself.
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Yvonne: Amen.
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And so I passionately feel
that one can accomplish anything
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with the right attitude,
with Jesus... he's a winner
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and you can be a winner.
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Oh yes, let's put that
book up, let's put the cover up
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so people can see
"Finances and Spirituality"
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and you were saying
that the connection there
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between finances and
spirituality... is Jesus Christ.
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Doris: May I share
with you one other thing?
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Yvonne: Please...
Doris: And these are just a few
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notes that I took from the book
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and for anyone who has the book
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or you'd like to
get it at some point,
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I believe it's on page 2 or
3, but I did a little research
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and you notice on the cover
of the book that was just shown
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that the Bible is there,
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because any decision
that is made in life,
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if God is not a
part of that decision,
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then your expected
outcome is going to be less
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than what He would
desire for you to have.
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In my little research
of the Bible, I learned
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that more than 500 verses
in the Bible are about prayer,
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less than 500 verses in
the Bible are about faith
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but approximately
2,350 verses in the Bible
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are about money.
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Yvonne: Wow!
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So Jesus spent time
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talking about the
material and the spiritual
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and so, that's a very
strong and deep connection
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as our spiritual life goes,
00:10:05.90\00:10:07.84
so goes the
success of our finances.
00:10:07.87\00:10:11.97
Wow! that is so... you know...
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it's interesting because
so many people think that
00:10:14.64\00:10:18.51
the Bible isn't relevant,
that there's nothing in here
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that... it's for today...
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it's an antiquated
book... it doesn't...
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but we can find the answers
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to our problems and
questions through the Word.
00:10:28.76\00:10:32.66
Doris: Absolutely, absolutely.
00:10:32.69\00:10:34.03
Yvonne: That's
what God has given us.
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God cares about
every aspect of our lives
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and when we partner with Him,
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success will be His
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and success will be ours
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because there is
nothing more than He desires
00:10:45.74\00:10:48.38
and that's for His children
to be in partnership with Him.
00:10:48.41\00:10:51.88
Yes, yes, yes,
yes, I noticed that...
00:10:51.91\00:10:55.05
well, there are a couple of
things that I want to allude to,
00:10:55.08\00:10:57.12
number one, you
mentioned, a few minutes ago
00:10:57.22\00:11:00.69
the importance of
learning how to manage money
00:11:00.76\00:11:03.63
you know, I think
about all of these people in
00:11:03.66\00:11:06.49
Entertainment and
Sports and it just...
00:11:06.53\00:11:09.13
in various stations in life
00:11:09.16\00:11:10.97
that have made
tremendous amounts of money
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but did not
know how to manage it
00:11:13.34\00:11:16.60
and one of the things that
I think we need to look at is
00:11:16.67\00:11:21.41
how are we spending
money, you know, I tend...
00:11:21.48\00:11:24.61
I have to tell you
now, I have to make...
00:11:24.65\00:11:26.41
are you ready for
a true confession?
00:11:26.45\00:11:27.78
Doris: I'm ready.
Yvonne: Okay, I like...
00:11:27.82\00:11:30.35
I don't like to
shop but I shop a lot
00:11:30.39\00:11:33.32
and sometimes I find
myself shopping like...
00:11:33.36\00:11:35.76
if I feel a little blue,
00:11:35.82\00:11:37.43
I want to get a pair of
shoes that make me feel good
00:11:37.49\00:11:41.16
but that's emotional spending,
00:11:41.20\00:11:43.73
let's talk a little bit about
00:11:43.80\00:11:45.13
emotional
spending, what is that?
00:11:45.17\00:11:47.37
I like to
characterize it this way
00:11:47.40\00:11:49.60
money has a personality that's
transferred by us to money
00:11:49.64\00:11:58.71
very much like
people have personalities.
00:11:58.75\00:12:01.62
Some of us are savers
and some of us are spenders
00:12:01.65\00:12:06.29
and some of us
are procrastinators
00:12:06.32\00:12:09.19
when it comes to paying
the bills and paying it on time
00:12:09.22\00:12:12.43
so that you can
avoid those late fees,
00:12:12.46\00:12:16.13
some of us are
misers and we feel that...
00:12:16.16\00:12:19.77
well money should not be spent
00:12:19.83\00:12:21.17
unless it's an
absolute necessity...
00:12:21.20\00:12:24.27
and we have not
learned how to manage
00:12:24.31\00:12:26.84
the emotions that
we have about money.
00:12:26.88\00:12:29.34
I think that when we
give all of our emotions
00:12:29.38\00:12:33.88
over to God, so that they will
be under His absolute control,
00:12:33.92\00:12:38.79
then in your
scenario, Dr. Yvonne,
00:12:38.82\00:12:41.76
when you go shopping next time,
00:12:41.79\00:12:44.69
you would find in my
book at least 3 or 4 tips
00:12:44.73\00:12:47.73
that I will share with
you regarding the temptation
00:12:47.76\00:12:51.67
to be able to go in and
buy that next new purse or
00:12:51.70\00:12:55.14
a pair of shoes which
also, if I might confess,
00:12:55.17\00:12:58.54
is one of my weak
areas but I always say,
00:12:58.57\00:13:01.98
"Doris, you can
look but don't touch... "
00:13:02.01\00:13:05.25
and you have to do everything
you can to keep your emotions
00:13:05.28\00:13:09.58
under control and that can
only happen with God's help.
00:13:09.62\00:13:13.96
If you are an
emotional person as I am
00:13:13.99\00:13:18.39
regarding the purchase of shoes,
00:13:18.43\00:13:20.43
I have many, many pairs of shoes
00:13:20.50\00:13:22.56
but I no longer
go into the store
00:13:22.60\00:13:24.63
and touch every
pair of shoes that I see
00:13:24.67\00:13:27.04
that I "might have a need for,"
00:13:27.10\00:13:28.44
when I really
don't have a need for it,
00:13:28.47\00:13:30.27
so I hope those
tips are helpful to you,
00:13:30.31\00:13:32.14
first of all...
look but don't touch.
00:13:32.17\00:13:34.04
And I think we have a
slide about emotional spending,
00:13:34.08\00:13:37.41
like getting
control of your emotions.
00:13:37.45\00:13:40.48
The key is to understand
00:13:40.52\00:13:42.62
that you have to view
your emotions very much like
00:13:42.65\00:13:45.72
when you have a problem and
you want to go to the doctor
00:13:45.75\00:13:48.86
well, first of all,
you should take good notes
00:13:48.92\00:13:51.86
when you visit your doctor
00:13:51.89\00:13:53.76
because they don't really have
a lot of time to spend with you,
00:13:53.80\00:13:55.90
you want to describe
what your symptoms are
00:13:55.93\00:13:59.30
and then the
doctor is going to discuss
00:13:59.33\00:14:02.77
what a prognosis
is for your condition
00:14:02.80\00:14:05.61
and then before
you leave his office,
00:14:05.64\00:14:08.34
more likely than not, he
will write you a prescription
00:14:08.38\00:14:10.85
and so in all of those
emotions and those personalities
00:14:10.88\00:14:14.52
that I write about in the book
about being savers and spenders
00:14:14.55\00:14:17.79
and puritans and misers and oh!
and I forgot to mention to you,
00:14:17.82\00:14:21.02
there is also this emotion
or personality about money
00:14:21.06\00:14:25.33
in many homes and I
call it a mixed marriage
00:14:25.36\00:14:29.90
because not always does
the husband and the wife
00:14:29.96\00:14:34.40
agree... in other words
they have different emotions,
00:14:34.44\00:14:37.71
they have different
personalities about money
00:14:37.77\00:14:40.24
based upon what
their experience has been
00:14:40.28\00:14:42.58
so it's not always the same
but I want to tell you Doctor,
00:14:42.61\00:14:46.25
there is hope for all of us,
00:14:46.28\00:14:48.48
Jesus knows our different
personalities about money,
00:14:48.52\00:14:51.99
He knows that
there's good in the saver...
00:14:52.05\00:14:54.39
the person who never
wants to spend anything,
00:14:54.42\00:14:56.73
He also knows that there
is good... meaning hope...
00:14:56.79\00:15:00.06
for the fretter...
00:15:00.13\00:15:01.43
the individual who just
frets about spending money
00:15:01.46\00:15:04.50
and these are people I
say, with a laugh, many times
00:15:04.57\00:15:07.54
that fretters are generally
00:15:07.57\00:15:09.10
people who have no
hair on their heads
00:15:09.14\00:15:10.61
because they worry all the time
00:15:10.71\00:15:12.84
and I think I'm
married to a fretter
00:15:12.87\00:15:14.71
but there is
hope for all of us...
00:15:14.74\00:15:16.48
with these various personalities
because with Jesus...
00:15:16.51\00:15:19.28
He can help us keep all
things under His divine control.
00:15:19.31\00:15:23.79
Yeah and that's see...
again... that's the key...
00:15:23.82\00:15:26.99
keeping Jesus at the
center of everything and...
00:15:27.06\00:15:30.16
and understanding who you are
00:15:30.23\00:15:33.19
and I think,
that's one of the things
00:15:33.23\00:15:35.40
that we don't
learn... we don't learn
00:15:35.43\00:15:37.53
how to manage money and
even though it's in the Word...
00:15:37.57\00:15:41.74
and we can extrapolate
principles from the Word
00:15:41.80\00:15:44.17
I'm so thankful that the
Lord had you write this book
00:15:44.21\00:15:46.44
to help us to
go back to the Word
00:15:46.51\00:15:50.11
and get these
principles and apply them...
00:15:50.15\00:15:52.98
and apply them to our
lives so, I thank you for that
00:15:53.01\00:15:56.75
because we need to
know how to manage it
00:15:56.79\00:15:59.79
and how to
understand who we are,
00:15:59.82\00:16:02.22
what type of spender are
we and who are we married to?
00:16:02.29\00:16:06.23
If you're
married... are you one way...
00:16:06.29\00:16:08.93
is your spouse one way?
00:16:08.96\00:16:10.30
Would you unpack that a
little bit more for us too?
00:16:10.37\00:16:13.94
Yes and I think that's in
Step 2 because in this book
00:16:13.97\00:16:17.61
the Lord gave me
seven simple steps...
00:16:17.64\00:16:20.38
we may not be able
to cover them all today
00:16:20.41\00:16:23.11
but hopeful that the first three
or four... we'll be able to do
00:16:23.14\00:16:27.68
that brings me to step number
2, in order for any personality
00:16:27.72\00:16:32.22
whether you have
some of the personalities
00:16:32.25\00:16:33.96
in a family relationship
or a dissimilar personality,
00:16:33.99\00:16:37.83
meaning it's a mixed
personality arrangement,
00:16:37.86\00:16:42.73
the important thing
is... we need to know
00:16:42.76\00:16:47.64
how to be honest
in our discussions
00:16:47.67\00:16:50.77
about financial
matters in the home,
00:16:50.81\00:16:53.84
we should never
withhold financial discussions
00:16:53.88\00:16:59.01
or leave out the
children in the home
00:16:59.05\00:17:01.15
from those
financial discussions.
00:17:01.18\00:17:02.72
They should be around the table,
00:17:02.78\00:17:04.25
if there's not a
husband in the home...
00:17:04.32\00:17:06.69
if it's the mother
and just the children,
00:17:06.72\00:17:09.26
then she should be
honest in the discussions
00:17:09.29\00:17:11.79
so that they will understand,
00:17:11.83\00:17:13.33
this is how much money
is coming into our home,
00:17:13.36\00:17:15.83
this is how much money
is going out of the home
00:17:15.86\00:17:18.33
and this is a list of things
00:17:18.37\00:17:20.74
that we will be
able to afford to do
00:17:20.77\00:17:22.97
and maybe in time with
planning and with prayer
00:17:23.00\00:17:26.98
we'll be able to
purchase that car
00:17:27.01\00:17:29.48
that we very
much need so much...
00:17:29.51\00:17:32.35
so that I can
carry you to church...
00:17:32.38\00:17:35.12
I can drive you there myself or
I can get you to Church School.
00:17:35.15\00:17:37.82
Honesty is the best policy
for every single individual
00:17:37.85\00:17:42.02
the best place to start is to
sit down... find a quiet place
00:17:42.06\00:17:46.26
and have a
little talk with Jesus
00:17:46.29\00:17:48.20
and be honest about it and say,
00:17:48.23\00:17:50.13
"I'm losing sleep at
night, I'm not feeling well"
00:17:50.17\00:17:53.13
or "I'm overeating,"
and all of this is because
00:17:53.17\00:17:56.07
my financial
situation is out of control,
00:17:56.14\00:17:59.94
I have fear that I won't be
able to pay my light and gas,
00:18:00.04\00:18:04.38
fear that I won't be
able to pay this month's rent,
00:18:04.41\00:18:07.08
fear that I won't be
able to make my car payment
00:18:07.15\00:18:10.32
and many individuals are
ashamed and they're afraid
00:18:10.35\00:18:13.49
and fearful to share
any of this information
00:18:13.52\00:18:16.16
with their friends or
with members of the church
00:18:16.22\00:18:19.09
and so I always say,
"Honesty is the best policy"
00:18:19.13\00:18:21.96
if we come to the
Lord in faith... honest...
00:18:22.03\00:18:25.27
recognizing that we
cannot do it on our own
00:18:25.30\00:18:28.47
and we ask Him for help,
I believe that He will help.
00:18:28.50\00:18:32.97
If He helped me, He
will help any person.
00:18:33.01\00:18:35.21
That's step two.
00:18:35.28\00:18:36.61
Yes, now, was there a
time that you went through
00:18:36.64\00:18:40.82
a dark time financially
where you were able to apply
00:18:40.85\00:18:44.19
these principles or you
didn't know these principles
00:18:44.22\00:18:47.46
where were you
00:18:47.49\00:18:49.49
at some point... when
you either had to apply this
00:18:49.52\00:18:53.70
or kind of extrapolate
these principles for yourself?
00:18:53.73\00:18:56.77
Well, I think,
when I first recognized
00:18:56.83\00:18:59.47
that there was
difficulty and a challenge,
00:18:59.50\00:19:02.17
it was when my grandfather
who was the head of the house,
00:19:02.20\00:19:06.07
he was the provider
for us there on the farm,
00:19:06.11\00:19:11.28
of course, we were all working,
00:19:11.31\00:19:12.78
but when he was
killed by the drunk driver
00:19:12.81\00:19:15.02
in that automobile accident
when I was very, very young,
00:19:15.05\00:19:18.25
I was concerned that we
may not make it without him
00:19:18.29\00:19:23.56
and I had to figure out a way
00:19:23.59\00:19:26.16
of how can I
help my grandmother,
00:19:26.19\00:19:28.23
how can we survive?
00:19:28.26\00:19:29.80
And one of the things
that I did was to transfer
00:19:29.83\00:19:33.74
that grief into a decision...
in my mind... I made a decision
00:19:33.77\00:19:41.18
that I am going to do
excellent work in school,
00:19:41.21\00:19:45.28
I am going to work as
hard as I can on this farm
00:19:45.31\00:19:49.18
so that we can earn
income, I'm going to chop wood,
00:19:49.22\00:19:53.05
cut wood, haul in
coal, cut down trees,
00:19:53.12\00:19:56.19
do anything that I have to do,
00:19:56.22\00:19:58.06
so it was from that
very, very early age,
00:19:58.09\00:20:01.20
that I made a
commitment and I was determined
00:20:01.23\00:20:04.73
and I had perseverance
and I had a strong desire
00:20:04.77\00:20:08.24
that life could be better
00:20:08.27\00:20:09.64
and that Jesus was going
to help me accomplish it,
00:20:09.67\00:20:11.67
that's how I got to
the Corporate Boardroom.
00:20:11.71\00:20:13.74
Wow! and see...
that's... you know...
00:20:13.78\00:20:16.48
again, the key word
here, I think is "decision. "
00:20:16.51\00:20:19.25
Doris: Yes.
00:20:19.28\00:20:20.62
You made a
decision, I think without...
00:20:20.68\00:20:23.69
you first have to decide...
first you confer with God...
00:20:23.75\00:20:28.99
then you have to make a decision
00:20:29.02\00:20:31.16
based on what that
input from the Word and
00:20:31.19\00:20:33.96
whatever the Holy
Spirit impresses you to do
00:20:34.00\00:20:36.63
and then once
you make a decision,
00:20:36.70\00:20:38.63
you have to back
it up with action,
00:20:38.70\00:20:40.87
because if you
just make a decision
00:20:40.90\00:20:43.17
and you don't
back it up with action
00:20:43.20\00:20:46.04
and a plan,
then what's the point
00:20:46.07\00:20:48.84
but you went strategically
00:20:48.88\00:20:51.28
and approached
this strategically
00:20:51.31\00:20:53.75
and God honored
that, just like Joseph,
00:20:53.78\00:20:56.08
Joseph worked hard and
he went from being a slave
00:20:56.12\00:21:01.56
to being the second
in command in Egypt,
00:21:01.59\00:21:03.56
so that's what I'm
hearing from you, Sister Doris,
00:21:03.63\00:21:06.80
that you came from
meager circumstances
00:21:06.83\00:21:10.93
but you didn't let your
circumstances define you
00:21:10.97\00:21:13.80
and I don't want you
to let your circumstances
00:21:13.84\00:21:16.97
define you... wherever
you are right now in life
00:21:17.01\00:21:20.04
you don't have to
stay where you are,
00:21:20.08\00:21:23.11
you can make a decision
to move from here to here.
00:21:23.18\00:21:27.02
Ask God what's His plan for you
00:21:27.08\00:21:29.38
and then let Him impress
you with what that plan is
00:21:29.42\00:21:32.69
and then you
just move from there
00:21:32.72\00:21:34.69
you make a decision to go from
that point to the next point,
00:21:34.72\00:21:39.73
to the next point, make
a plan and work the plan.
00:21:39.76\00:21:43.23
Would you agree with that?
00:21:43.30\00:21:44.63
I would agree and let me
tell you... what God did.
00:21:44.67\00:21:47.84
With the
encouragement of my grandmother,
00:21:47.90\00:21:51.47
knowing that I no longer
had my grandfather in my life
00:21:51.54\00:21:54.88
and let me just say that I
do have a biological mother
00:21:54.91\00:21:59.38
and she was in my life,
she was young when I was born,
00:21:59.41\00:22:03.92
I'm the oldest of three and so
00:22:03.99\00:22:05.95
we were really all
kind of raised together,
00:22:05.99\00:22:08.09
and some of our
listeners will understand
00:22:08.12\00:22:10.13
that there have been many
grandparents who stepped in...
00:22:10.16\00:22:12.36
to the gap and
helped to raise families
00:22:12.39\00:22:15.16
that were not their
own but as a result of...
00:22:15.20\00:22:17.90
the encouragement
of both my grandmother
00:22:17.93\00:22:19.73
and my biological mother
00:22:19.77\00:22:21.30
to do the very best
that I could in school,
00:22:21.34\00:22:24.01
God rewarded by awarding me
a full four-year scholarship
00:22:24.07\00:22:30.85
to Tuskegee University
00:22:30.91\00:22:33.01
and so... you can use your
God-given gifts and talents
00:22:33.05\00:22:36.75
even though you may feel
that there's not enough income
00:22:36.79\00:22:40.42
in the family or in the home
to pay your way through college,
00:22:40.46\00:22:44.53
my gifts that God gave me
00:22:44.56\00:22:47.23
and my desire
and my determination
00:22:47.30\00:22:50.00
with His help... earned
me a full-paid scholarship
00:22:50.03\00:22:55.04
to Tuskegee
Institute so... God is good.
00:22:55.07\00:22:57.04
That's
tremendous, that's tremendous,
00:22:57.07\00:22:58.94
again... your work... you
used the gifts that you had
00:22:58.97\00:23:02.71
and you honed those gifts,
you didn't just leave them,
00:23:02.74\00:23:06.38
you honed them and
that is our responsibility
00:23:06.41\00:23:09.18
we are given gifts
and we have to hone them.
00:23:09.22\00:23:11.92
So now, what would you say,
00:23:11.95\00:23:13.59
in terms of managing
our personal finances,
00:23:13.66\00:23:17.86
what's the key to that?
00:23:17.89\00:23:19.53
May I give you
00:23:19.56\00:23:21.40
a personal
experience? Yvonne: Please...
00:23:21.43\00:23:22.76
After enrolling
at the University,
00:23:22.80\00:23:26.70
this was back then...
00:23:26.74\00:23:29.40
I'm not sure what's
on college campuses today
00:23:29.44\00:23:31.91
but this was my experience.
00:23:31.94\00:23:33.84
Credit Card companies...
and I'm mentioning this because
00:23:33.88\00:23:38.98
I had a personal
experience with it
00:23:39.01\00:23:40.42
and personally... I
think credit card debt,
00:23:40.48\00:23:42.85
if you don't manage it,
00:23:42.88\00:23:44.25
is the worst kind
of debt, it really is.
00:23:44.29\00:23:46.19
Colleges and Universities would
allow Credit Card companies
00:23:46.22\00:23:50.29
to have a presence on campus
and so... your Freshman year,
00:23:50.33\00:23:54.36
they would be
all over the campus
00:23:54.36\00:23:56.20
and they would offer
students a free credit card,
00:23:56.23\00:23:59.17
all you had to do was
just sign your name...
00:23:59.20\00:24:00.87
I'd not had... I
came from a farm...
00:24:00.94\00:24:03.41
I'd not had any training,
00:24:03.44\00:24:05.77
my grandparents
never had a credit card
00:24:05.81\00:24:07.38
and so it was free,
00:24:07.41\00:24:09.21
they sent it to me with a
spending limit of 300 dollars
00:24:09.24\00:24:12.75
and I thought,
"Oh! this is great... "
00:24:12.78\00:24:14.45
and so I went shopping,
I thought it was great,
00:24:14.48\00:24:16.99
I thought that that
would be the end of it
00:24:17.02\00:24:18.92
and so I went and
spent the whole 300 dollars
00:24:18.95\00:24:20.86
and then I
started getting statements
00:24:20.89\00:24:22.29
and the statement was asking
me to pay something on it,
00:24:22.32\00:24:24.73
I thought it was free,
00:24:24.76\00:24:26.09
that was my first
"teachable moment"
00:24:26.13\00:24:29.80
because I had no
thought and I had no plan
00:24:29.83\00:24:33.70
about how I was going
to pay that 300 dollar debt
00:24:33.74\00:24:37.27
and, of course, fear sets in,
00:24:37.31\00:24:39.11
you don't want to tell your
grandparents who worked so hard
00:24:39.14\00:24:42.48
to try to help keep
you there at the University
00:24:42.54\00:24:44.71
and so I didn't
have a good end result
00:24:44.75\00:24:48.35
with that first credit card
because I was unable to pay it,
00:24:48.42\00:24:50.89
I have learned that
those types of experiences
00:24:50.95\00:24:54.49
are painful and
difficult but you can overcome,
00:24:54.52\00:24:58.06
ultimately, that was a
bad report on my Credit Report
00:24:58.09\00:25:03.47
and I had no idea... later
on... how much that would mean
00:25:03.50\00:25:08.77
when I wanted to buy a new car
00:25:08.80\00:25:10.91
and my credit score
was low which meant that
00:25:10.94\00:25:16.01
I either couldn't get the loan
or the interest rate was high.
00:25:16.04\00:25:19.11
I learned before I
graduated from college,
00:25:19.18\00:25:23.69
that managing my credit
was my primary responsibility
00:25:23.72\00:25:29.02
in other words, I
learned to be accountable
00:25:29.06\00:25:31.66
and responsible
for my own actions
00:25:31.69\00:25:34.30
and I said,
"Lord, this was something
00:25:34.30\00:25:36.87
that I did... I signed my name"
00:25:36.93\00:25:38.90
and before the end of
the day, I paid that loan,
00:25:38.93\00:25:43.37
even though I had to
take a bad credit hit,
00:25:43.41\00:25:46.34
but I worked very
hard to rebuild my credit
00:25:46.37\00:25:49.14
and today, 850 is super star!
00:25:49.18\00:25:53.38
Yvonne: All right...
Doris: I think I'll make it.
00:25:53.42\00:25:55.02
All right... all right...
that's awesome, that's awesome.
00:25:55.05\00:25:59.39
You must sit down and write
a list of all of your debts,
00:25:59.42\00:26:03.22
write the monthly payment
that you're currently paying,
00:26:03.26\00:26:06.96
write down on a piece of paper
00:26:07.03\00:26:09.03
the interest rate
that you're paying...
00:26:09.06\00:26:11.10
and come up with a plan,
00:26:11.13\00:26:12.80
a plan and a
strategy that's says,
00:26:12.83\00:26:15.10
"The highest interest
rate debts that I have...
00:26:15.14\00:26:19.17
I need to do everything that
I can to pay off those debts. "
00:26:19.21\00:26:23.78
So you pay off from the
highest interest rate on down...
00:26:23.85\00:26:27.32
Doris: Yes.
00:26:27.35\00:26:28.68
So you have to look on that
little thing... that sheet...
00:26:28.82\00:26:32.12
that says what you're
paying in interest, right?
00:26:32.15\00:26:33.69
Doris: Yes.
00:26:33.76\00:26:35.09
And then find out
what your interest level is
00:26:35.12\00:26:37.43
and then start there.
00:26:37.46\00:26:38.79
Yes, start there,
because if you're only pay
00:26:38.83\00:26:41.20
on a credit card and, of
course, I'll say this again,
00:26:41.23\00:26:43.43
credit card debt is the
worst debt that you can have.
00:26:43.47\00:26:45.57
There is some good debt,
00:26:45.60\00:26:47.04
but credit card debt
is not the good debt.
00:26:47.10\00:26:48.74
It's only good debt when
you know that the charges
00:26:48.77\00:26:52.31
that you're making
on a monthly basis...
00:26:52.34\00:26:54.38
you have the
ability to pay in full
00:26:54.41\00:26:57.11
when that statement comes.
00:26:57.15\00:26:58.48
You want to organize your debts,
00:26:58.51\00:27:00.45
highest interest rate
to lowest interest rate
00:27:00.55\00:27:03.42
and target your
energies on paying off those
00:27:03.45\00:27:06.25
that have the
highest interest rates,
00:27:06.29\00:27:07.89
now everybody
needs a little incentive
00:27:07.92\00:27:09.99
and a little encouragement
so I'll say this quickly,
00:27:10.06\00:27:12.23
that one of the
things that I did
00:27:12.26\00:27:14.10
that encouraged me was
00:27:14.13\00:27:15.46
the debt that had the
lowest account balance on,
00:27:15.50\00:27:19.23
I paid that off first...
00:27:19.27\00:27:20.94
and then I dealt
with the big stuff.
00:27:20.97\00:27:23.27
Okay, so you pay
off the lowest first?
00:27:23.30\00:27:24.81
Doris: Yes.
00:27:24.84\00:27:26.17
And then you deal with
the big stuff... Doris: Yes.
00:27:26.21\00:27:27.58
How can people get your book?
00:27:27.61\00:27:28.94
You're going to tell
us in like 10 seconds...
00:27:28.98\00:27:30.31
www. dorisgothard. com
00:27:30.35\00:27:32.41
All right, one more time...
00:27:32.45\00:27:33.82
www. dorisgothard. com
00:27:33.85\00:27:37.39
And she has several
books that she's written,
00:27:37.42\00:27:40.09
several books
and she's got cookies
00:27:40.16\00:27:43.22
I mean... just go to her...
00:27:43.26\00:27:44.59
go to her
website... and check it out.
00:27:44.63\00:27:46.46
Thank you so
much... thank you so much.
00:27:46.49\00:27:49.20
Thank you for
having me... thank you.
00:27:49.23\00:27:51.90
Wow! Proverbs 13:11 says,
"Dishonest money dwindles away,
00:27:51.93\00:27:55.60
but whoever gathers money little
by little makes it grow. "
00:27:55.64\00:27:59.24
pay your tithe and offering,
00:27:59.27\00:28:00.91
have integrity in your financial
dealings, God will bless.
00:28:00.94\00:28:03.68
Thanks for joining
us, join us next time
00:28:03.78\00:28:05.68
because it wouldn't
be the same without you.
00:28:05.71\00:28:07.58