In today’s episode, our guest is Anthony O’Neil. He is the national bestselling author of The Graduate Survival Guide: 5 Mistakes You Can’t Afford to Make in College and travels the country spreading his encouraging message to help teens and young adults transition into the real world. He is also a financial expert and a host of a new podcast called The Table.
[8:32] Why should we listen to you?
I grew up with four parents. I have two biological parents and two step-parents who raised and loved me just as much as my biological parents. I come from a life perspective, not as an expert nor preacher when I talk to you. I’m going to come from a real relevant and relatable perspective.
[11:08] Where did you get the skills you work with?
It took me a long time to figure it out. It was when my truck started traveling around the world. Then I started teaching young people how to go to school without racking up student loan debt. And then my mentor Dave Ramsey recruited me.
[12:18] Do you find that sometimes it takes an extra level to be confident and teach someone?
I think it’s where I tend to attract and where I tend to go. This generation is looking for authentic, relatable, and relevant content. I just got to force myself into that world into their culture. And once they understand what I’m saying, then that’s it.
[13:21] What have been some of the most impactful groups or organizations that you’ve talked to?
I had the opportunity to speak for NFL and NBA teams and go in there to help out with their rookies every year. I sit down with these rookies and mentor them. When I sit down with him, I say things that he needs to do.
[16:16] How do I get people out into financial freedom to have freedom of life?
You got to have a why and if your why doesn’t make you cry, then the price of commitment, the cost to accomplish the goals and dreams that you want, will make you cry. It starts with the internal why. When your why makes you cry, then the price of commitment won’t make you cry, and you will push through anything and accomplish everything you desire.
[18:44] How does somebody get out of debt?
Stop borrowing money. If you want to get out of debt, stop racking up debt, bottom line. I had to be patient and not worry about trying to blend in with the world. Use the Debt Snowball method; when you’re paying off all your debt, on all your debt from smallest to largest, make all your minimum payments. But then when you’re getting your extra income, and if you do a budget, and you cut out some additional expenses, all that extra income, you’re going to put it on the very first one, why are you making your minimum payments on the others.
[20:46] When you get done with the first one, take all of that money and put it on the second one. It’s an efficient way to get out of debt. And when you do this debt snowball method, it’s all about momentum. It’s not about math. It’s not about getting creative knows about when you see yourself paying off the first one, get to the second one, get to the third one. You saw your future change, and you keep moving.
[21:47] What kind of indirect message passes the question of why they should go and start doing something?
I’m always trying to go back to myself and teach from within myself. When you start avoiding debt, make sure you have an emergency fund. Once you have that emergency fund, take advantage of all the Roth plans out there. Be creative. Go out there and buy your plot of land and just let it sit there put it into the trust for your kids down the road.
[25:27] What should be the amount of money for an emergency fund?
If you’re in a stable situation, three months of your average expenses. The bare minimum that I teach is three to six months of your expenses if you’re in a commission-based job. It all depends on your situation.
[29:09] What promise did God make to the world when He created you?
You can get an authentic, relevant, and relatable conversation. You’re not going to have an expert. You’re going to have a person who is a student first and foremost, who loves God and who’s going to be genuine, and who genuinely wants to see you win.
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