Debt Free Divas Podcast Interview with Jarim Person Lynn!

Debt free divas

A few weeks ago I had the pleasure of sitting down with my faves the @debtfreedivas for a great interview on all things BKF.
Check it out here –>>
Or visit your Stitcher radio app and search for the “debtfreedivas” podcast!

What does your mental diet consist of?

Stitcher blog

All of the things I profit each month on are from specific things I learn daily from educational articles shared amongst our Winner’s Circle Members, books, various Stitcher radio educational podcasts, TED talks, documentaries, Black Thought/The Roots, Talib Kweli, Lupe Fiasco, Pharoahe Monch, Kendrick Lamar, J. Cole, to even trial and failure from getting off my a$$ and testing the various instructions and theories out.

What did you learn from listening to Juicy J and Drizzy Drake albums in your rotation so far today?

Remember, you are the sum total of what you allow to enter your mind.

If you don’t have Stitcher radio on your phone or computer you’re missin out. Its like the Pandora for educational podcasts.

Turn off the ratchet rap, ratchet gossip talk shows etc and shows and feed your mind.

**MY current favorite shows on Stitcher Radio (which don’t have to be your shows):

Bigger Pockets (rental income investing)
The Eventual Millionaire (business, technology and ideas)
48 Days with Dan Miller
Mad Money w/ Jim Cramer
CNBC Fast Money
The Ric Edelman Show
The Nutrition Diva
The Dave Ramsey show
MoneyPlan SOS
Suze Orman show
Debt Free Divas
Better Conversations – Money & Marriage
Entrepreneur on Fire
among others like well known NPR etc

Another great source of entertainment after a day of productivity is the incredible collection of life changing documentaries available on Hulu, Netflix & Youtube.
Here are some of my personal favorite.

*Top documentaries that compelled me to stop eating meat:
Forks over Knives
Fat, Sick & Nearly Dead
Food Inc.

*Top documentaries on money:
In Debt We Trust
I’m fine, thanks.
The Queen of Versailles

*Top documentaries on minimalism:
No Impact Man

*Top documentaries on education and classism:
Waiting for superman
The Cartel

*Misc documentaries to check out:
Burt’s Buzz (all about the co-founder of Burt’s Bees)
After Innocence
Gideon’s army
What’s the T?
American Meth
Strip Club King: The Story of Joe Redner
Off Label
Counterfeit Culture
Hot Coffee

Lastly, there is a TED Talk app on just about every streaming box being sold right now. Use it for some great content and education!

Now what are some of your own?


BKF Investing School 2nd Edition out now!

(Click on the image below for more info.)

Black future month

5 Checking & Debit Card habits you always want to keep

1. Always keep 2 checking accounts with a visa/mastercard debit card for each. One account for spending and one for bills.

This not only helps with budgeting in the BKF zero debt program but it also helps tremendously in the fight against fraudulent transactions as your spending account, traditionally with far less money in it than your bills account, is the only account you expose to risky situations.
Names of recommended checking accounts for this can be found here –>>…
Remember, this is a no credit card program – cut those debt traps up.

2. Always use the “credit” option at check out over “debit”. Though card terminals have yet to change the options shown on screen to the correctly titled “signature or debit” or “signature or pin”, choosing the falsely titled “credit” option will continue to be your best option.
By avoiding the store’s push to confuse you and get you to input your pin number, you will be provided the same “protections” as credit card users when it comes to chargebacks, fraud and insurance on purchases, but without the next 15 years of your life paying off debt.

3. If you have any checking account with “overdraft protection” linked to it, and you’re comfortable with that, I need you to withdraw all of your money and light a torch to it now. Save us both some time.
If you’re smart enough to now know the stupidity behind keeping your account connected with this type of corporate fraud, I need you to call your bank and remove overdraft pro-theft-tion now.
While the annual percentage rate on a payday loan is typically 400%-500%, the APR on the average overdraft equates to 3,500%.
I don’t care what you believe you will never do. This is about risk vs reward. Don’t be dumb.

Overdraft protection

4. Never ever use your pin # at a gas station. –>>…
As a matter of fact entering in your pin number should generally be avoided at all cost. The only places you should use your card’s pin # are at your own bank’s ATM or at your own bank’s teller window. And be careful even with that.
If you go to Costco once a month, use cash. If you go to Costco more than once a month, use condoms.

5. Be wary of using cold hard cash in general. You can not place a “stop payment” on a stolen $100 bill. No matter how much you tell yourself you are, you are not going to stop and write down each transaction on a napkin or app after you make them so you can keep track and see how you are performing against your budget. Because you’re not tracking your spending, you will run out of cash repeatedly and dip into bill money to pay for lunches at work.

Use an online application like to track expenses from both your bills account and your spending in real time.

Remember – 2 checking accounts: one for bills and one for spending. Order a visa or mastercard debit card for each.

Neither Visa or Mastercard are credit card companies but rather businesses that own payment processing networks that can connect to any bank issuing a card. Neither of these companies hold consumer debt.

The 2014 Winner’s Circle Awards

2014 Winners Circle Awards Logo

As the year comes to an end, its time to congratulate those who have gone the hardest at changing/fixing/improving their financial situations.

For those who remember, a while back we would do the Winner’s Circle awards and give honors to aaalll of our top performing members at the end of each year.

Well now (perhaps a good thing) we have far too many members to name and far too many that have done incredibly well this year. So we’re not going to name each of you but know that overall, the team kicked a$$.

So what we’ll do is name the top 5 performers this year and give a peak at how they made it there.

**In at #5 we have: Toya P.

Talk about determined, Toya gets the hustler of the year award for “kicking ass in an employment setting”.

Following her passions on the business side, always receiving top praise from management and clients alike, she’s one of the few people actually using the degree/field she worked to be apart of. Toya did it all while driving a reliable paid off Scion working in an industry known for grand ballerific facades.

And in doing so, it allowed her the cash flow this year to beef up her investment portfolio filled with a diversified array of ETFs.

Then there was that healthcare stock she put in the gambling portion of her portfolio that snagged…wait for it..

..a 35% gain. Don’t remind her of this – her head may get a bit bigger.

**Coming in at #4 we have: Johnell M.

One of our first members to join club “I’m Debt Free!!!” this year.

After doing the process a little backwards a few years ago and sacrificing to pay off $15k of his student loans before he did his credit cards, he was recently able to finally say I’ve had it.

Just last winter you could find him commuting to work without using heat and saving an extra $125 per week on gas in the process. He said he just wore extra layers and stayed bundled up (insane lol)

And now in 2014, he took his tax refund from taxes and kicked Chase and Best buy out of his house once and for all.

For the rest of the year he used that awesome debt free cash flow to go back to school and increase his skill set without adding any new debt.
Welcome to the club Johnell!

**In the #3 & #2 spots, we have: Tiffany & DeVonne 

No car notes, credit cards or any of it! AND no student loans??
They also didnt want to stay long distance landlords anymore so they placed their out of state house on the market and it recently sold! Effectively making them members of “Club – Rent Rich Over 30″
A minority couple with excellent jobs, paid off cars, no mortgage hanging over their backs, 1000% debt free, and a portfolio full of high performing ETF investments.
Congrats to the Johnson household!
#TeamNoCarNote #TeamNoCreditCards #TeamSallieMurdersClub #TeamWTFisaMortgage

**And now…drummroll pleease**

The #1 Winner’s Circle member who kicked serious financial a$$ in 2014 is…
>> Tsehainesh <<

Always ordering BKF books to give out for Christmas gifts to her friends once she had knocked out her credit card debt…

Continuing to go hard over the last year and a half on student loan debt and refusing to upgrade her 10 year old Honda Accord in the process…

One of the newest members of the 20% club for 2014…

Over her 6 Steps to Zero debt journey she began when the original BKF book was released in 2011, she not only paid off $12,600 in credit card debt..

…but freed herself from $31k in student loans, WHILE investing in her 529 plan for her kid.

Did I mention she did this as a single mother making a modest salary in the expensive as ___ bay area?

So lets give her and all other Winner’s Circle rockstars a monster shout out for 2014!

Special 2014 shout outs go to Jasmine G (working on going natural, making huge progress with your finances and driving that same paid off year 2000 honda), Krischa E (starbucks challenge and most reliable paid off new model car award), Isidra (drastically improving income and canceling a Target credit card before it was even sent), Jaaye  (better be the last time I congratulate you for paying off credit card balances)

The Top 5 BKF Transportation Choices

**Top 5 transportation choices in today’s environment***

Screen Shot 2014-12-11 at 3.21.10 PM

When it comes to the most cost effective forms of transportation, here are the top 5 options in 2015 (for the vast majority of people):

1. Ditching the car altogether. With this no longer being the year 1968, the options for non car ownership in America have gotten to the tipping point to where they are extremely in your favor.

Today, the average cost to maintain a recent model sedan is $838/month –>>

Next generation companies like Sidecar, Uber, Lyft, Zipcar, Relay Rides, Cars2go etc have put in blood sweat and tears to offer new experiences that will also save you a ton of money and trouble.

Relocate yourself to a more centrally located to work and/school and you will save more money AND time than you will ever spend on the potential for increased rent. Couple that with public transportation and personal transportation (bike/scooter etc) and you can end up spending no more than $200-$300/month and be healthier doing so.

2. Ditch the car…mostly. An alternative to number one, that is better for (some) parents, is to do the heavy lifting using step 1 (above) while keeping a 10 year old, paid off reliable clunker parked on the street for those one off trips. Since the car is paid off, and you’re spending about $200 for public transportation, your costs go up here for low insurance, low gas, low maintenance and non luxury car annual registration.

Total spent here – no more than $300/month

3. Drive electric! This is by far the cheapest of the “I must drive my own car during the majority of the month” scenarios. With dealers basically giving these cars away –>>
The cost breakdown becomes this:
+$10k for a 36 month lease = $278/month
-$2500 check from the state = +$69/month back in your pocket
+$100 insurance/month
+$10 maintenance&registration/month (you have a brand new car that doesn’t need oil changes or any other real maintenance – its lovely)
+$30/month in increased electricity bill (maybe)
-free car pool lane use
-incredibly fast pickup and acceleration
-saving the world for your kids future
= $330/month on average

4.Drive reliable (Honda, Toyota & Nissan) used & paid for in CASH (under $12k).
This is the second best option for the “I must drive my own car during the majority of the month” scenario.

5.Leasing non-electric cars. Understand that even if you are going to make the mistake of avoiding the previous 4 options listed above, the worst thing you will ever do is take out a loan on a new or used car. Learn why here –>
And here –>
Learn why leasing, as of today, is still better than debt –>>

Personally – I have zero desire to run around telling people I’m paying monthly to “own” a quickly depreciating asset.

I’d rather go legally blind over the course of a month.
Barely. (Beat Debt, Master Your Money. Reclaim your LIFE)

The Magical “Hood Unicorn”

Hood unicorn

From now on I want you to refer to anyone you know aiming to be the exception at all things otherwise stupid and trivial, as a *magical hood unicorn*.

While these people are out trying to be exceptions for the sake of being an exception, we will continue to aim to only make progress in areas that are worthy of progress. Just because something “can” be done, in some far off off chance of a reality, doesn’t mean you should aspire to do it.

In other words, just because you’re an exception doesn’t make you exceptional.

You have to learn the basics of risk vs reward.

How to tell you’re a hood unicorn – tip #103:

When you’re the first person in any conversation to say “not every…”.

When not “any” body ever made a statement towards that being the case.

Typical examples:

“Uh uh! Not every body who listen to wacka flocka and gucci all day is ignorant”

“Not every body who uses welfare is always gone be poor!”

“Not everybody with a $120k liberal arts degree ends up without a job!”

“Not every body who has kids while theyre young & broke isnt thinking about the welfare of their kids!”

“Not every body who uses credit cards is in debt!”

“Just because he was a hoe when i met him doesnt mean hes a hoe now. Not everybody stays the same!”

“Uh uh! All my girlz is bad bitches. Not every body who wears weave is a chicken head!”

So as you sit there and type on a computer you’ve been paying interest on since windows 95 came out..

And you use that same payday loan/credit card default judgement computer to do a slow ass google search for what to do when you’ve developed traction alopecia.

And cry to your girlfriend every night about why “your” dude is still sleeping with other women after you met him as that other woman

And then you march and protest occupy wall street because you think they owe you money to pay off student loans for a career you knew had a low financial success rate…

And you leave your need to be fixed 8 year old BMW parked in front of the apartment you owe back rent to…

After everyone in your family told your a$$ that BMWs have a high likelihood of being the devil…

I want you to remember what your obsession with “not every…” has done for you in life so far.

No one gives a hot d@$@ about the potential to be an exception in stupidity.

This is about asking yourself “is it worth doing said stupid shit IN THE FIRST PLACE?”.