Ash ExantusChief Financial Educator, Ash Cash Enterprises · Financial Empowerment Leader | Public Affairs Strategist | Media Executive | Advocate for Economic Equity & Financial Literacy | Champion for Formerly Incarcerated Communities

Part 2: Top Ways You Are Shredding Money 🚨

30 Aug 2023 · 1 min

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1:01

In this concise financial‑advice segment, the speaker outlines common habits that drain personal wealth and urges viewers to replace them with asset‑building strategies. He warns against trying to keep up with the Joneses—spending to match others’ lifestyles—lending money to family or friends with little chance of repayment, neglecting self‑investment and personal development, and taking on debt for liabilities such as expensive car payments or credit‑card purchases that do not generate income. The core message is to stop allocating money to liabilities and instead focus on acquiring assets that cover those costs, thereby stopping the “shredding” of money.

Chapters

You should be trying to get your money up. Number 3, trying to keep up with the Joneses. You're looking online, you're seeing what people are doing, and you're trying to do the same thing. You're shredding money. Number 4, lending money to family and friends. You ain't got it, so how you lending it to them? Make sure that you know that once you lend that money, you ain't gonna never get it back. Number 5, not investing in yourself. You're trying to get to the next level, but you're using the same information you had yesterday. No, you got to invest yourself and become better, because if not, you're shredding money. Lastly, taking out debt for liabilities. You got a car payment paying $700? Really? And you don't drive Uber? Listen, you are paying money on liabilities. You're paying your credit card to look nice. You do not need to do that. You're shredding money. Stop focusing on the things that are putting the money to waste. Start focusing on making sure that you have assets that are paying for your liability. All right, y'all, we out.