# Financial Tips: Debit Cards vs Credit Cards. How to improve your buying power!

An episode of [Money Making Conversations Master Class](https://invisiblenetwork.ai/podcast/1264705641), 13 Aug 2024, 24 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/b1db7263-d1a3-4d00-8976-af62012aab44/3b18db48-5102-448c-ac04-b1ca0160f2d8/audio.mp3?utm_source=Podcast&in_playlist=35a10561-3e1b-4d05-a529-af62012aab6a

Listen and subscribe to Money Making Conversations on iHeartRadio, Apple Podcasts, Spotify, www.moneymakingconversations.com/subscribe/ or wherever you listen to podcasts. New Money Making Conversations episodes drop daily. I want to alert you, so you don’t miss out on expert analysis and insider perspectives from my guests who provide tips that can help you uplift the community, improve your financial planning, motivation, or advice on how to be a successful entrepreneur. Keep winning! Two-time Emmy and three-time NAACP Image Award-winning television Executive Producer Rushion McDonald interviewed Dr. George C. Fraser. Dr. George C. Fraser is the Chairman and CEO of FraserNet, Inc., a company he founded over 35 years ago. He is a renowned networking guru, business leader, author, and entrepreneur who is regarded as one of the foremost respected authorities on entrepreneurship and building generational wealth and economic empowerment for the Black community. Got financial ills and in need of healing? Well look no further because Doctor George C. Fraser is in the house and ready to administer a prescription in money management! From the trap of only paying off your monthly minimum balance on your credit card to the pitfalls of buying things on sale and borrowing money, Dr. Fraser debunks many financial myths that can ruin your financial future while providing easy-to-swallow methods on how to build generational wealth. The information train doesn’t just stop there though. Dr. Fraser is also here to introduce us to the Power Networking Conference, a conference that he started 23 years ago to connect African American business across the diaspora and increase the value of Black dollars. #STRAW #SHMS Money Making Conversations Master Class with Rushion McDonald is America's premier entrepreneurship, business leadership, financial literacy, and wealth-building podcast featuring successful entrepreneurs, executives, founders, celebrities, and industry experts sharing actionable insights for professional and financial success. Business Podcast Entrepreneurship Small Business Business Growth Financial Literacy Wealth Building Black Entrepreneurs Minority Business Leadership Executive Leadership Business Funding Marketing Strategies Personal Development Startup Advice Sales Training CEO Interviews Founder Stories Professional Development Economic Empowerment Business Success Networking Brand Building Innovation How to start a business Small business funding Entrepreneur success stories Business leadership podcast Wealth building strategies Black entrepreneur podcast Minority business development Marketing for small businesses Business growth strategies Startup funding opportunities Executive leadership training Financial literacy education Success mindset podcast See omnystudio.com/listener for privacy information.

## Transcript

[0:05] Speaker 1: Welcome to the show.
[0:06] Speaker 2: I am Rashawn McDonald, the host of Money Making Conversations Masterclass,
[0:10] Speaker 2: where we encourage people to stop reading other people's success
[0:13] Speaker 2: stories and start planning their own. Listen up as I
[0:17] Speaker 2: interview entrepreneurs from around the country, talk to celebrities and
[0:21] Speaker 2: ask them how they are running their companies and speak
[0:23] Speaker 2: with nonprofits who are making a difference in their local communities.
[0:27] Speaker 2: Now sit back and listen as we unlock the secrets
[0:30] Speaker 2: to their success on Money Making Conversations Masterclass. My next
[0:35] Speaker 2: guest is George Frazier.
[0:37] Speaker 3: I call him Dr.
[0:38] Speaker 1: George C.
[0:38] Speaker 4: Frazier.
[0:39] Speaker 5: He's the chairman and CEO of FrazierNet, a company founded
[0:42] Speaker 5: over 30 years ago.
[0:44] Speaker 1: Dr. George C.
[0:45] Speaker 5: Frazier is a renowned networking guru, business leader, author, and
[0:48] Speaker 5: entrepreneur who is regarded as one of the foremost respected
[0:52] Speaker 5: authorities on entrepreneurship and and building generational wealth and economic
[0:56] Speaker 5: empowerment for the Black community. He will be talking about
[0:59] Speaker 5: his annual Power Networking Conference, plus give us some great
[1:03] Speaker 5: value about how we can be successful in our own
[1:06] Speaker 5: everyday life. Please welcome to Money Making Conversation, Dr. George C.
[1:10] Speaker 4: Frazier. Oh, God bless you. Good to hear you. I've
[1:15] Speaker 4: always loved the energy in your voice. Hell, you motivate me,
[1:19] Speaker 4: and I'm a motivator.
[1:20] Speaker 1: Well, you know, that always accompanies me.
[1:22] Speaker 5: Because, you know, it's like, you know, I'm sure when
[1:24] Speaker 5: Michael Jordan got on the court, and I call you
[1:26] Speaker 5: Michael Jordan. Now, this ain't Rashad McDonald. I just throw
[1:29] Speaker 5: myself to be a little bit, I'm not even going
[1:32] Speaker 5: to say LeBron. I'm not even LeBron.
[1:35] Speaker 1: But you're Michael Jordan, Dr.
[1:36] Speaker 4: George Frazier.
[1:37] Speaker 1: Understand that, man.
[1:38] Speaker 5: We are respected in this business of entrepreneurship because you
[1:42] Speaker 5: all know, like now entrepreneurs have almost become a fad,
[1:46] Speaker 5: just like the word branding has become a fad. But,
[1:49] Speaker 5: you know, you started this whole networking and relationship before
[1:52] Speaker 5: it was even vogue. Talk about how it was when
[1:56] Speaker 5: we started the Frasier Networking and now how it is now,
[1:59] Speaker 5: especially with social media being so prevalent in the process
[2:03] Speaker 5: of networking.
[2:04] Speaker 4: Yeah, that's an excellent point, Rashawn. Social media has helped
[2:09] Speaker 4: all of us to stay connected, to get connected, and
[2:13] Speaker 4: to leverage more effectively our collective resources and intellectual capital.
[2:19] Speaker 4: And so I love it. It has really helped. to
[2:23] Speaker 4: spread the word about economic development and wealth creation. It's
[2:26] Speaker 4: helped us, in fact, to understand the rules for financial success.
[2:33] Speaker 4: I mean, actually, there are three basic rules. There are
[2:35] Speaker 4: three basic rules that will, if you're looking for financial freedom,
[2:41] Speaker 4: if you follow these three basic rules, there's no way
[2:45] Speaker 4: that you can go wrong. Rule number one, your rent
[2:49] Speaker 4: or mortgage should be less than what you make in
[2:51] Speaker 4: a week. I cannot tell you how many black people
[2:54] Speaker 4: are house poor. Your rent or mortgage should be no
[2:57] Speaker 4: more than you make in a week. So if you
[2:59] Speaker 4: have a two household income, you combine the income for
[3:03] Speaker 4: a week and your rent or mortgage should be no
[3:06] Speaker 4: more than that. That's number one. Number two, only borrow money.
[3:11] Speaker 4: to make money. So yes, you can borrow money to
[3:14] Speaker 4: buy a house because if you keep your house, it
[3:17] Speaker 4: is going to make money. There's nothing wrong with that.
[3:20] Speaker 4: If you're borrowing money to buy a car, unless you're
[3:24] Speaker 4: turning that car into a useful and utilitarian tool to
[3:29] Speaker 4: help you make money, get back and forth to work
[3:32] Speaker 4: or do whatever you need to do, That's a good thing,
[3:35] Speaker 4: but it's a depreciating asset, Rashawn, because the moment you
[3:39] Speaker 4: buy that car, if you turn that car around and
[3:41] Speaker 4: try to take it back to the dealer to get
[3:43] Speaker 4: what you paid for, you would not get it.
[3:45] Speaker 1: It'd be a fight on the showroom floor.
[3:47] Speaker 4: Okay. That's right. Same thing with diamonds, Rashawn. You can
[3:53] Speaker 4: buy you a beautiful diamond bracelet if you turned around
[3:56] Speaker 4: and try to sell it back to the jeweler. But
[3:59] Speaker 4: what you just paid for it, you will not get it.
[4:01] Speaker 4: So borrow money to make more money and figure out
[4:06] Speaker 4: whatever you're borrowing money for. How are you going to
[4:09] Speaker 4: get something in return for your investment? And that's what
[4:12] Speaker 4: you expect. You expect a return on your investment. So
[4:15] Speaker 4: that's number two. And number three, this is deep. As
[4:20] Speaker 4: your income increases, your cost of living should decrease dramatically.
[4:28] Speaker 4: or stay the same. Stop living, brothers and sisters, above
[4:32] Speaker 4: your means. Stop living, which means you're spending more than
[4:36] Speaker 4: you earn. Stop living even within your means, which means
[4:40] Speaker 4: you're spending everything you earn, and live below your means
[4:46] Speaker 4: and invest the rest, right? So as your income increases,
[4:50] Speaker 4: your car Your cost of living should either decrease or
[4:54] Speaker 4: stay the same. Do not raise your cost of living
[5:00] Speaker 4: because you gotta raise. Take that difference between what you
[5:03] Speaker 4: were earning and what you're now earning and invest it.
[5:08] Speaker 4: Don't spend it. And the first person you invest in
[5:13] Speaker 4: is you. Tithe to you first. Take the money off
[5:19] Speaker 4: the top. Don't spend what you have to spend to
[5:22] Speaker 4: pay your bills and then invest what you got left. No, no, no, no, no, no, no.
[5:27] Speaker 4: Invest in you first. And then if you follow these
[5:32] Speaker 4: three rules, there's no way that you cannot land on
[5:36] Speaker 4: financial freedom.
[5:37] Speaker 3: And that's what we are talking about. Financial freedom.
[5:40] Speaker 4: Sean, there's six habits that will keep us broke. There's
[5:43] Speaker 4: six habits that will keep you broke. Right. Not talking
[5:47] Speaker 4: about money. We don't talk about it in school. We
[5:51] Speaker 4: generally don't talk about it around the family table. That'll
[5:54] Speaker 4: keep you broke. You've got to talk about money, understand capitalism,
[5:58] Speaker 4: understand money. So talking about money will help prevent you
[6:03] Speaker 4: from keeping broke. Talking about it around the family table,
[6:06] Speaker 4: talking about it among your friends is more important than
[6:10] Speaker 4: what's happening on Real Housewives of Atlanta. Number two. failing
[6:16] Speaker 4: to build an emergency fund. Now we've all been taught
[6:21] Speaker 4: that we need to save some money for a rainy day.
[6:23] Speaker 4: So failing to build an emergency fund for more than
[6:28] Speaker 4: six months, I would look at it now for at
[6:31] Speaker 4: least a year. What does it take for you to live,
[6:34] Speaker 4: to maintain your standard of living for at least 12 months, right?
[6:39] Speaker 4: And make sure that you have that as cash available
[6:41] Speaker 4: to you. Number three, making impulse purchases. Let me say
[6:46] Speaker 4: it a different way. I would rather carry a plastic
[6:50] Speaker 4: bag with $ 5, 000 in it than to carry a $ 5, 000
[6:52] Speaker 4: Louis Vuitton bag with $ 100 in it. Stop making impulse purchases, right?
[6:59] Speaker 4: Because that's going to drain you of your cash available.
[7:04] Speaker 4: Number four, buying items you don't need because they're on sale. Now,
[7:09] Speaker 4: I have to chastise my wife often about this. Why
[7:12] Speaker 4: do you buy? Well, it was on sale. I said,
[7:14] Speaker 4: but you already got three of them. Yes. Right. So
[7:17] Speaker 4: buying stuff that you don't need. Manage. your impulse buying.
[7:23] Speaker 4: And number five, paying bills late because of the exorbitant
[7:28] Speaker 4: interest rates when you pay your bills late, especially those
[7:33] Speaker 4: credit cards. Man, you look at the annual interest rate
[7:36] Speaker 4: on these credit cards and if you're paying the minimum
[7:38] Speaker 4: that you have to pay each month, you will never
[7:41] Speaker 4: pay that credit card off.
[7:42] Speaker 1: That minimum is a trick move. That minimum monthly payment
[7:45] Speaker 1: is a trick move.
[7:47] Speaker 4: That's right. Absolutely. You'll never pay it off. All right.
[7:51] Speaker 4: So don't pay your bills late. Don't pay the minimums.
[7:56] Speaker 4: Always pay more. I try to pay double to triple
[8:01] Speaker 4: the minimum. I might pay 25 percent of what I owe.
[8:07] Speaker 4: So that's number five. Don't pay bills late and don't
[8:10] Speaker 4: pay minimums is a beautiful point you made. And number six,
[8:14] Speaker 4: the improper use of credit cards. Yeah. the improper use
[8:17] Speaker 4: of credit cards. 15 years ago, I cut up all
[8:22] Speaker 4: of my, I have no credit cards. What I have
[8:25] Speaker 4: are debit cards that are attached to my bank account, Rashawn,
[8:30] Speaker 4: and I cannot spend any more than I have in
[8:34] Speaker 4: my damn checking account. So, you know, I'm thinking about
[8:37] Speaker 4: every time I use my debit card and I got,
[8:40] Speaker 4: I got, Three or four of them because I have
[8:43] Speaker 4: various banks for various needs, but I can never spend
[8:47] Speaker 4: any more than I have available right now. So improper
[8:54] Speaker 4: use of, so these are habits that keep us broke.
[8:58] Speaker 4: And we are also the most financially illiterate people in America.
[9:03] Speaker 4: We are at the bottom of every single statistic that
[9:06] Speaker 4: matters in this country economically. And so we need to
[9:10] Speaker 4: educate ourselves, educate our children. This is related to talking
[9:14] Speaker 4: about money. And as a result of that. As a
[9:17] Speaker 4: responsible leader in this country, as you are, we started
[9:24] Speaker 4: our WINS Wealth Building Centers to address financial illiteracy in
[9:30] Speaker 4: black America. Because if the business of America is business,
[9:33] Speaker 4: it is dangerous, Rashaun, and self-defeating to be financially illiterate. Therefore,
[9:39] Speaker 4: education is the answer. The key to a well-rounded financial
[9:44] Speaker 4: education is to align... People's mindsets, their habits, their values
[9:50] Speaker 4: and solutions with the importance of the overall goals of
[9:54] Speaker 4: black America or according to numerous analytical statistics and studies
[9:59] Speaker 4: and predictions. we will ultimately, if we don't fix our
[10:05] Speaker 4: financial bad-ass habits, right? We will be relegated to permanent
[10:10] Speaker 4: second-class citizenry, and we will end up in a second slavery.
[10:14] Speaker 4: So we developed, in 2018, the Wynn's Wealth Building Centers
[10:19] Speaker 4: and Curriculum to address, among other things, the psychology, the
[10:24] Speaker 4: emotions and our relationship with money in both the secular
[10:28] Speaker 4: and non-secular black organizations, both the church and other black organizations.
[10:33] Speaker 4: And we're softly focusing on our deep-seated struggle with instant
[10:38] Speaker 4: versus delayed gratification. It's one of the very bad habits
[10:42] Speaker 4: that we have. And we're struggling with the basics of
[10:46] Speaker 4: financial growth to include, but it's not limited to the
[10:51] Speaker 4: four pillars for the intergenerational transfer of wealth. That is
[10:54] Speaker 4: the essence of our WINS financial centers. And we've got
[10:59] Speaker 4: over 20 churches already involved with our curriculum and with
[11:03] Speaker 4: our program. But the four pillars, very simply, are the
[11:06] Speaker 4: proper management of accumulated wealth so that we can start
[11:09] Speaker 4: reading about entertainers and athletes that earn $ 100 million in
[11:13] Speaker 4: their career. And within five years, they're either broke or
[11:16] Speaker 4: in bankruptcy. The second pillar is real estate. ownership, both
[11:20] Speaker 4: residential and commercial real estate is the cornerstone for the
[11:25] Speaker 4: intergenerational transfer of wealth. The fourth one is business development.
[11:30] Speaker 4: We are the consumption class in this country. White folks
[11:33] Speaker 4: are the merchant class. They make stuff and we buy stuff.
[11:37] Speaker 4: Stop doing that, brothers and sisters, if you sell something.
[11:40] Speaker 4: sell something. In America, two things are going on 24-7.
[11:44] Speaker 4: Somebody's buying and somebody's selling. We're doing all the damn buying.
[11:48] Speaker 4: So if you make cookies, put them in a box,
[11:50] Speaker 4: put your name on it, and sell it to somebody.
[11:53] Speaker 4: If you live on a farm, take the manure, put
[11:56] Speaker 4: it in a bag, put your name on it, and
[11:59] Speaker 4: sell it to somebody. You can become an entree manure.
[12:02] Speaker 4: Stop doing all the damn buying and sell something. This
[12:06] Speaker 4: is extremely important. On this, I'll give one final little
[12:10] Speaker 4: quote by Bishop Tudor. Bishop Tudor Bismarck. He wrote a
[12:14] Speaker 4: wonderful book called Kingdom Economics. And I'm going to quote him.
[12:20] Speaker 4: And he says, as black people, we have embarked upon
[12:24] Speaker 4: a new millennium. And this millennium brings momentous change. We
[12:30] Speaker 4: see differences in every facet of society, cultural shifts, economic upheavals,
[12:34] Speaker 4: political changes, and more. As believers, it is imperative not
[12:40] Speaker 4: only must we be spiritually sound, but we must also
[12:44] Speaker 4: establish a firm kingdom economic foundation. We must now unlock
[12:51] Speaker 4: the keys to economic empowerment. Well, end of quote, I
[12:56] Speaker 4: concur with that. And so I'm recommending that the brothers
[13:00] Speaker 4: and sisters out there, if you belong to a church family,
[13:04] Speaker 4: talk to your pastor, get in touch with us and
[13:07] Speaker 4: put a Winswalth Building Center. It's a little license agreement
[13:11] Speaker 4: and use our curriculum and start educating your congregation. You'll
[13:16] Speaker 4: have a better congregation. You'll have a more. a financial
[13:20] Speaker 4: free congregation, there'll be better tithers, there'll be better givers.
[13:24] Speaker 4: So this is a very, very big and important idea
[13:27] Speaker 4: that must be sustained over at least three or the
[13:31] Speaker 4: next three or four generations.
[13:32] Speaker 1: So that's important.
[13:34] Speaker 6: Please don't go anywhere. We'll be right back with more
[13:37] Speaker 6: Money Making Conversations Masterclass. Welcome back to the Money Making
[13:47] Speaker 6: Conversations Masterclass hosted by Rashawn McDonald.
[13:51] Speaker 5: The Power Networking Conference has been the home of black
[13:53] Speaker 5: entrepreneurs looking to connect. That's important when I say connect,
[13:57] Speaker 5: grow and prosper. Forbes voted it as one of the
[14:00] Speaker 5: top five conferences in the world for entrepreneurs. They pride
[14:04] Speaker 5: themselves on unique philosophy of networking, building a financial legacy
[14:07] Speaker 5: for your grandchildren.
[14:08] Speaker 1: And this is about the future.
[14:09] Speaker 4: And the reason I love it is because we launched
[14:13] Speaker 4: at our conference the first virtual nation called Fraser Nation.
[14:20] Speaker 4: It was a virtual, this is before the pandemic. So
[14:22] Speaker 4: I'm not, you know, I'm not a soothsayer. I can't
[14:25] Speaker 4: predict the future. I was not predicting a pandemic that
[14:29] Speaker 4: would make everything go virtual. But I said, I think
[14:32] Speaker 4: we could have a virtual nation, right? And it's very
[14:37] Speaker 4: simply provide access to overall training and coaching and modeling
[14:45] Speaker 4: that is needed by our citizens and therefore help improve
[14:49] Speaker 4: the recycling of black dollars and intellectual capital among our
[14:53] Speaker 4: citizens and allies. It's this massive database of top black professionals,
[14:59] Speaker 4: business owners, and community leaders. Access the intellectual capital, access
[15:05] Speaker 4: the products and services that black people sell around the world,
[15:10] Speaker 4: in the entire Pan-African diaspora. When you look at the
[15:15] Speaker 4: businesses that we own and we're not supporting like we
[15:20] Speaker 4: should support, so this helps the connectivity of that and
[15:24] Speaker 4: it provides This kind of database and virtual meetings and
[15:30] Speaker 4: virtual conferences and virtual summits and virtual workshops. Right. Because
[15:38] Speaker 4: virtual ain't going away.
[15:40] Speaker 5: That's why I just said, because a lot of people
[15:42] Speaker 5: don't understand that. You can't look at it as being
[15:45] Speaker 5: negative because it's a brick and mortar. And the goals
[15:48] Speaker 5: of FrasierNet are simple. Help black people build wealth that
[15:51] Speaker 5: can be transferred into society. generational wealth opportunity for the future,
[15:55] Speaker 5: helped Black people become the number one employer of Black
[15:58] Speaker 5: people in the 21st century, to facilitate building a global
[16:01] Speaker 5: network of Africans throughout the diaspora whose focus is personal
[16:06] Speaker 5: and business excellent and using it to build partnerships, join ventures,
[16:10] Speaker 5: and strategic alliances.
[16:12] Speaker 1: That's very key right there. Networking.
[16:14] Speaker 4: And now the whole virtual thing has been normalized. Yes. Right? Yes.
[16:20] Speaker 1: That's why I love it, George. I'm so excited.
[16:23] Speaker 5: I am so excited for your brand because, you know,
[16:26] Speaker 5: we stumbled upon, because of the COVID-19, the real purpose.
[16:32] Speaker 1: Because, you know, not that we didn't know. We didn't know.
[16:34] Speaker 5: You know, we were just doing what everybody do. You know,
[16:37] Speaker 5: IBM does it. All the big corporations do these brick
[16:39] Speaker 5: and mortar. But you had to be trained in the pandemic,
[16:43] Speaker 5: train people to look at TV, to Zoom, Instagram Live,
[16:47] Speaker 5: Facebook Live.
[16:48] Speaker 1: So everybody's there now. Your brand is.
[16:51] Speaker 4: A global brand. There you go. There you go. There
[16:54] Speaker 4: you go. No question about it. And with brothers like
[16:57] Speaker 4: you promoting it, I'm telling you, this is very important.
[16:59] Speaker 4: What you're doing, what you're saying, your reach, your credibility,
[17:04] Speaker 4: the way people trust you. I mean, this is the
[17:10] Speaker 4: gold standard for how we get this out there. and
[17:15] Speaker 4: used by our people. We've got to have people like
[17:18] Speaker 4: you talking about it. And heck, you talk about it
[17:22] Speaker 4: better than I do. I mean, you know why? Because
[17:25] Speaker 4: you see it.
[17:26] Speaker 1: You see it. You see it.
[17:28] Speaker 4: You're a visionary. You see it. You know what the
[17:31] Speaker 4: possibilities are. You know that we have to do this.
[17:34] Speaker 4: We don't have any choice. That's why I'm so excited.
[17:36] Speaker 4: I'm so excited. We have to do this. Yeah. What
[17:39] Speaker 4: we have to do is create the instruments, the vessels,
[17:43] Speaker 4: and the tools for us to do it and then
[17:46] Speaker 4: move it through our marketing and advertising channels. radio, television,
[17:55] Speaker 4: social media system that is so targeted and so effectively
[18:00] Speaker 4: utilized by Black people. And it will happen. It will work.
[18:04] Speaker 4: There's no question about it.
[18:05] Speaker 3: I want everybody to understand that. That means that you
[18:07] Speaker 3: can be in Africa.
[18:08] Speaker 1: You can be in England.
[18:10] Speaker 5: You can be in France. You can be in Mexico.
[18:13] Speaker 5: You can be in Canada. And now you can participate
[18:16] Speaker 5: in this conference.
[18:17] Speaker 4: That's right.
[18:18] Speaker 1: And that's why it's so important that we tell everybody this.
[18:22] Speaker 5: I want you to take off your little narrow hats
[18:24] Speaker 5: about how can I participate?
[18:26] Speaker 1: You don't have to get on a plane.
[18:28] Speaker 5: This has been conceptualized to be very network friendly for
[18:32] Speaker 5: all the things that he's always talking about. Meet millionaires,
[18:35] Speaker 5: potential partners, investors and build your network. workshop speaks, all
[18:39] Speaker 5: these things, registration, student registration, VIP registration, ultra VIP registration,
[18:45] Speaker 5: all these things, seminars, all these things are available virtually.
[18:49] Speaker 5: That's amazing to me.
[18:51] Speaker 1: You know I'm fired up.
[18:53] Speaker 4: I mean, just think about that. I mean, when's the
[18:55] Speaker 4: last time Black people from all.
[18:58] Speaker 7: Over the diaspora were able to come together around a
[19:02] Speaker 7: common vision, right, with instruction, motivation, some of the best
[19:07] Speaker 7: and baddest speakers and preachers on the planet, the Reverend
[19:12] Speaker 7: Freddie Haynes posts our talk every year. Jamal Bryant opens
[19:16] Speaker 7: the talk every year. And I mean, we can just
[19:19] Speaker 7: voice Watkins will be there. So we can go down
[19:23] Speaker 7: the list. It is just incredible.
[19:25] Speaker 4: If you want to know more about The Virtual Power
[19:29] Speaker 4: Networking Conference. Just go to www.powernetworkingconference.com. www.powernetworkingconference.com. If, in fact,
[19:40] Speaker 4: you can't find a link or something, just email me.
[19:43] Speaker 4: Just email me very simply at G. Fraser, F-R-A-S as
[19:47] Speaker 4: in Sam, E-R, at FraserNet.com. G. Fraser at FraserNet.com. And
[19:53] Speaker 4: I'll make sure you get everything you need to know to,
[19:57] Speaker 4: in fact, get registered. That's Dr.
[19:58] Speaker 3: George C.
[20:00] Speaker 1: Fraser.
[20:01] Speaker 5: He's a renowned networking guru, chairman and CEO. You're not
[20:04] Speaker 5: emailing just anybody, not an assistant.
[20:06] Speaker 4: Dr.
[20:07] Speaker 3: George C.
[20:07] Speaker 1: Frazier, that's who you're in the net.
[20:09] Speaker 5: Renowned networking guru, chairman and CEO of FrazierNet, a company
[20:13] Speaker 5: he founded over 32 years ago to lead global networking
[20:16] Speaker 5: and economic development movement for people of African descent.
[20:20] Speaker 1: That's FrazierNet.
[20:22] Speaker 5: A belief that we should be in the game, not as.
[20:25] Speaker 1: Buyers, but as sellers.
[20:28] Speaker 5: People, product, put your name on something, become an entrepreneur,
[20:32] Speaker 5: telling you how you can become an entrepreneur. putting a
[20:35] Speaker 5: plan in place so you can win, not only just short-term, long-term,
[20:38] Speaker 5: because that's what this is all about. Because everybody go
[20:40] Speaker 5: out there, they want to do something, they'll have a
[20:42] Speaker 5: plan in place. That's short-term success. We're trying to create
[20:45] Speaker 5: long-term success at FrasierNet. That's why it's virtual. That's why
[20:49] Speaker 5: he's always on my show. I feel blessed that I'm
[20:52] Speaker 5: able to bring somebody of his caliber on my show.
[20:54] Speaker 1: He always be hyping me up. I be hype because
[20:56] Speaker 1: he's one of the few people I just let him talk.
[20:59] Speaker 5: I just interrupt periodically, just drop some dives, remind everybody
[21:03] Speaker 5: how gifted it is to even hear him talk like
[21:05] Speaker 5: this because your beliefs and your values mean something to people.
[21:10] Speaker 5: What I like to always say is that that's why
[21:12] Speaker 5: I'm excited about the virtual event, FrasierNet, because.
[21:16] Speaker 3: You're just a hidden gem. Your network's not saying that
[21:19] Speaker 3: you're not unknown. I don't want to insult like that.
[21:21] Speaker 3: But this virtual platform allows more people to participate.
[21:26] Speaker 1: It's such a blessing. It's such a blessing, brother.
[21:28] Speaker 3: Such a blessing.
[21:28] Speaker 4: Well, God bless you, Rashawn. God bless you. And God
[21:32] Speaker 4: bless all that you mean to us and your servant leadership,
[21:36] Speaker 4: because you are a servant. I mean, you just... are
[21:39] Speaker 4: incredible in how you manage that and how you focus
[21:42] Speaker 4: on that, emphasize that. It's all in your voice and
[21:45] Speaker 4: in your spirit. And so I'm going to close with
[21:50] Speaker 4: giving the brothers and sisters out here a little tip
[21:53] Speaker 4: on how to build your passive income, how to build
[21:55] Speaker 4: your passive income. Because there should not be a black
[21:57] Speaker 4: person in America with a single stream of income, right?
[22:01] Speaker 4: All of us should have multiple streams of income, what
[22:04] Speaker 4: we call a passive income. So take your nine to
[22:07] Speaker 4: five income. If you've got a job, 97% of us
[22:11] Speaker 4: have a job. Take your nine to five income and
[22:16] Speaker 4: use that to fuel your side hustle. Okay, whatever that
[22:20] Speaker 4: may be, sell something. That's your side hustle. Then use
[22:24] Speaker 4: your side hustle to fuel the money you get from that,
[22:28] Speaker 4: to fuel your investments because you're going to get extra
[22:32] Speaker 4: money and you're going to invest that money. I don't
[22:35] Speaker 4: care if it's cryptocurrency, stocks, bonds, whatever it is, whatever
[22:38] Speaker 4: floats your boat, invest your side hustle money and then
[22:42] Speaker 4: take your investments and over time, your investments will replace
[22:49] Speaker 4: your nine to five. That's the goal.
[22:54] Speaker 1: That's the goal.
[22:55] Speaker 4: That's the goal. That's right.
[22:57] Speaker 3: I want to appreciate you.
[22:59] Speaker 5: But again, thank you for coming on the show. And
[23:01] Speaker 5: I got to do my job now. See, you always
[23:04] Speaker 5: give me instructions, but you don't.
[23:05] Speaker 1: Even know it. See, when you come on my show, Dr.
[23:08] Speaker 5: Frazier, you put me to work in a positive manner
[23:10] Speaker 5: because I said, okay, I said, okay, you know, it's like,
[23:13] Speaker 5: it's like, you know, you're the Pope of entrepreneurship to me.
[23:16] Speaker 3: You're the Pope now.
[23:17] Speaker 1: The Pope became the town. He then blessed everybody with information. Now,
[23:21] Speaker 1: guess what? We got to get busy and spread the word.
[23:23] Speaker 5: So that my mission right now is to spread the
[23:25] Speaker 5: word of Frazier Nick, My friend.
[23:27] Speaker 1: We talk soon, OK?
[23:29] Speaker 5: This has been another edition of Money Making Conversations Masterclass
[23:32] Speaker 5: hosted by me, Rashawn McDonald.
[23:34] Speaker 1: Thank you to our guests on the show today. And
[23:36] Speaker 1: thank you, our listening audience.
[23:38] Speaker 5: Now, if you want to listen to any episode or
[23:40] Speaker 5: want to be a guest on the show, visit MoneyMakingConversations.com.
[23:45] Speaker 5: Our social media handle is Money Making Conversations. Join us
[23:48] Speaker 5: next week. And remember to always lead with your gifts.
[23:51] Speaker 1: Keep winning.

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