Almost everyone has a debt story, and on this episode, #1 national bestselling author, speaker, financial expert and host of the popular YouTube series and podcast The Table with Anthony O’Neal, Anthony shares his story.
He also gives some practical strategies for how to start paying cash for everything, how to get out of college debt free, and how parents can start saving for their kids and future.
Welcome to Episode 425 of the podcast. Listen and access the show notes below or search for the Carey Nieuwhof Leadership Podcast on Apple Podcasts or wherever you get your podcasts and listen for free.
Plus, in this episode’s What I’m Thinking About segment, Carey shares five ways to lead when you have no money or team.
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World Vision
The deepest truths about living like Jesus often come from leaders who are suffering, persecuted, and living in a hostile environment.
And through the beatitudes in Matthew 5, we know that people in difficult circumstances like these are often the closest to living like Jesus did.
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Sign up today at worldvision.org/carey.
The Unstuck Group
For most pastors, the return to pre-pandemic attendance and engagement is going slower than anticipated. Churches that were seeing a decline or plateau in growth are noticing that trend accelerating.
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It’s an online tool that helps you assess where your church sits today in the typical church lifecycle, and it’s free.
If you don’t know The Unstuck Group, this is the consulting group my church has worked with when we need an outside perspective to help us align vision, strategy, team and action.
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Take the FREE assessment today at theunstuckgroup.com/carey, and start a conversation with your team about where your church is today, where you believe God’s called you to go, and how you’re going to get there.
Conversation Links
Debt Free Degree by Anthony O’Neal
The Graduate Survival Guide: 5 Mistakes You Can’t Afford To Make In College by Anthony O’Neal
Destroy Your Student Load Debt by Anthony O’Neal
Ramsey Solutions: Anthony O’Neal
5 Ways to Lead When You Have No Money or Team by Carey Nieuwhof
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Insights From Anthony
1. When you live with financial margin, you can bless others
Anthony and Carey have both lived with and without financial margin. They’ve learned that one of the biggest upsides to building margin into your finances is being a financial blessing to others.
Anthony saw this first-hand after he crashed his dream car. On the night of the crash, he had to walk home in the snow. When he got home, he realized he had no groceries in his fridge, so he ordered Uber Eats.
The delivery lady was a single mother making deliveries on a bicycle in the snow because she needed to feed her kids. Because Anthony had margin in his life, he was able to bless her financially, even though he had just wrecked his new car.
2. You can and should avoid taking out student loans
Right now, 33 million borrowers hold $1.7 trillion of student loans in America. This crisis is financially crippling the next generation.
Anthony teaches that you don’t need to take out student loans to be successful. There are other options than going to an expensive school and taking out loans. A few are:
- Going to a trade/technical school and working a job while you’re there
- Going to a community college for 2 years then transferring to an in-state school to finish your bachelor’s degree (and working to pay for it)
- Going through college at a pace you can afford to pay for in cash while you work
Anthony takes a deep dive into this and gives a step-by-step guide in his book Debt Free Degree.
3. Parents, don’t pay for 100% of your kid’s school, make them put in “sweat equity”
All parents want the best for their kids. But some parents end up not passing on certain lessons while trying to support their kids. One example of this is college. Anthony and Carey recommend making your kids pay for a portion of their college tuition.
When you do this, your kids put in “sweat equity” and learn that the world isn’t just going to hand them whatever they want. They need to earn it.
Quotes from Episode 425
Focus on the things you can control, and pray about the things you can't. @AnthonyONeal Share on XI don't believe in the term good debt. I don't believe in the term bad debt. I believe in one term, debt is debt. Bottom line. @AnthonyONeal Share on XDon't buy it unless you can pay for it twice. @AnthonyONeal Share on XMoney is secondary, serving is first. @AnthonyONeal Share on XThe world taught me how to rack up debt. @AnthonyONeal Share on XIf your why doesn't make you cry, then the price of commitment will make you cry. @AnthonyONeal Share on XWhen we start thinking and start believing that, ‘This is my money,’ that's when money becomes an idol. @AnthonyONeal Share on XOne of the greatest mistakes our parents can do is provide everything for their kids and then throw them out there into the real world. @AnthonyONeal Share on XWe got to start educating our young people, there are different options. Not everyone needs to actually go to a four-year university. @AnthonyONeal Share on XIf you're not building with something solid, you're building on something rocky. @AnthonyONeal Share on XWhen you have no money, no people, cast a big vision. Share on XVision creates something out of nothing. You got to help people see something if they're going to be something. Share on XResources follow vision but never proceed it. Share on XResources follow vision but never proceed it. Share on XNo amount of money can ever substitute for lack of passion. Share on XIf you're disturbed by the lack of passion in your team, have a look in the mirror. Share on XDream teams don't randomly assemble, they're built. Share on XLeaders who focus on what they can't do always miss what they can do. Share on XWhen a leader loses confidence, so does the team. Share on XWhen a leader gets bored, the team grows bored. Share on XWhen a leader is passionless, it doesn't take long for group to lose any sense of enthusiasm. Share on XRead or Download the Transcript for Episode 425
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Next Episode: Ed Stetzer
Ed Stetzer talks about the moment in history we’re seeing as being a cultural convulsion that’s making it exceptionally challenging to lead. In this wide-ranging interview, Ed talks about QAnon, Trump-ism, why evangelicals gravitate to conspiracy theories and what he sees as an evangelical reckoning. Surprisingly, it’s a potentially healing conversation many reasonable leaders will find encouraging.
Subscribe for free now so you won’t miss Episode 426.
