Untangling Student Loans – A Conversation with Adam Carroll

On this episode of The Money Script Podcast, host Yohance Harrison welcomes Adam Carroll, filmmaker and financial educator, to discuss student loans, debt repayment strategies, and financial literacy. Adam shares insights from his groundbreaking documentary Broke, Busted, and Disgusted, revealing how the student loan crisis impacts borrowers and their families. Together, they explore strategies like the Shred Method to accelerate debt repayment and reclaim financial freedom. Adam also shares his first money memory and how it shaped his financial journey. Whether you're tackling student loans or looking to optimize your finances, this episode is packed with actionable advice.


Learn about the practical Shred Method for effective financial management.
theShredmethod.com

Want to spend 15 minutes with one of our advisors?  Please visit moneyscript.com to book a session.

Transcript

Adam Carroll 0:00

We went to the college students directly and said, okay, what does college mean to you? How much debt will you have? And we had another cross section of students. More interestingly in that demographic, we talked to university presidents and one of the university presidents, as we were saying, hey, your students are concerned about what kind of jobs they'll get upon graduation and does that concern you? And we had a private college president say, future employability is none of our concern.

Seth Harrison 0:35

You are tuned in to the Money Script podcast. Today we will share strategies to help you grow your financial literacy and improve your Money Script. I'll be back with some important announcements. Until then, enjoy the show.

Yohance Harrison 0:55

Welcome back to the Money Script Podcast. It's your host, Johannes Harrison. We are well on our way into season four five. That's right. 1, 2, 3, 4, 5. And we're still here. Thanks to all of you. I'm very excited to be with each and every one of you today. I have another exciting guest and we are going to talk about student loans. Wait, wait, wait, wait. Don't, don't turn it off. It'll be good. There'll be some good news that we have about student loans. We're going to talk about student loans. We're going to talk about paying off debt. We're going to talk about how to improve your behaviors and just some of your thoughts and actions around managing those pesky, pesky student loans. You know, here's the thing. You did the time, so now you have to pay it back. Or maybe not. We'll talk about that, too. So I'd like to invite and welcome Adam Carroll to the Money Script podcast. Adam, how are you today?

Adam Carroll 1:50

I am awesome, Johannes. Thanks for having me. I'm excited to be with you.

Yohance Harrison 1:53

I'm excited to be with you because you are an expert on this topic. So I'm actually really just excited to learn from you. I mean, usually for, for my normal listeners, ongoing listeners, you're probably wondering, well, what's the hot topic today? Well, the hot topic is student loans. There is one thing that did happen that I'll mention and we'll talk about it on another podcast as we get closer to applying for FAFSA for next year. But if you're watching the news or happen to see it come across your. Your headlines, they did change Congress in the last budget. They did change some of the rules on fafsa, and they claim they're making it easier for us to fill out FAFSA forms, eliminating almost fix questions, which sounds good. There was an editorial in the Wall Street Journal this weekend. That said, it's good for some, not so great for others, but isn't that the way it is with everything? But we will break all of that down on a future episode. But today I want to talk with Adam specifically because Adam did an entire documentary on student loan debt called Broke, Busted, and Disgusted, which just the name alone just, just tells you how a lot of us feel. Feel about student loans. So, Adam, I'd like to just ask you, what led you to making this documentary?

Adam Carroll 3:09

Well, I love the question, Johannes, because it was kind of a labor of love I had. For the past 20 years or so, I've made my living as a professional speaker and the majority of my talks have been on college campuses. So I've toured as a guest lecturer for. Yeah, for, for 20 years, been on 750 college campuses. And I realized that everywhere I went, I would ask students, how much do you have in student loan debt? And can you guess the number one answer that people gave me?

Yohance Harrison 3:43

My answer's got to be too much.

Adam Carroll 3:45

Too much was the second common answer. The majority of them said, I don't know.

Yohance Harrison 3:47

Yeah, okay.

Yohance Harrison 3:51

Oh, yeah, that was probably number one answer. Yeah.

Adam Carroll 3:53

And I was so shocked by it, Johannes, that I was asking people, hey, give me ballpark, best guess. And they were like, honestly, I couldn't tell you. And so when I started speaking on colleges, rates were. Or student loan debt was probably hovering in the 30 to 40 grand range. And over the course of 10 or 15 years, it went to 60 and then 80. I met people with 100 grand, 125 grand for an undergrad degree, met people with as much as 300,000 in grad school and med school, law school degrees, and now it's higher than that for some people. So what inspired me to do the documentary on student loan debt was this feeling that people were going to be broke, busted, and disgusted, but they didn't even know it yet. And so hence the name.

Yohance Harrison 4:37

Hence the name. Okay, got it. Well, no, I, I know that firsthand.

Yohance Harrison 4:43

My wife had six figure student loan debt.

Yohance Harrison 4:49

My son has five figure student loan debt. And I've shared the story on the podcast multiple times. When it comes to debt, we only accumulate it in three ways. I mean, now there's subcategories of all these three ways. There's three methods that debt that we acquire debt. The first is there's an emergency and you don't have the money to pay for it. Yeah, someone's always standing by to lend it, whether it's a friend or that Friend's last name is Visa, MasterCard or American Express. The second way that we accumulate debt is when there are things in our life that are important that become urgent and we're not willing to say no. That was me with my son. I said, you're going to college, you're going to college, you're going to college. However, I wasn't doing a good job of saving for college. And then he said, dad, I got accepted into college and I did not have the guts to tell him no because it was important and now it's urgent. And Sally was right there. She said, how much do you need? And we said, all of it.

Adam Carroll 5:14

Amen.

Adam Carroll 5:32

Yeah.

Adam Carroll 5:44

Yeah.

Yohance Harrison 5:46

And then the third way we accumulate debt is just by spending tomorrow's money today. Okay. Probably the most prolific way for us as Americans, we like to do that. Oh, I'm gonna get a bonus. Or I'll just pay it off after Christmas. For those of you that are listening to this episode, shortly after the holiday season of 2023, if you find yourself in that situation, I have news for you. Christmas is coming again. Okay? So you can either plan for it or you can wait to be till it becomes important and urgent. You're not willing to say no to Chanel Prad exporting goods, whatever it is. But yeah, no, when it comes to college debt, I mean, I. We have clients that have close to a half a million dollars of student loan debt because we work with a lot of individuals in the medical field. And you know, whether from their bachelors to their graduate degrees, med school, and then spending three to four years in residency, only making 50, $60,000 a year with 3, 4, $500,000 worth of student loan debt. And fortunately, the laws have changed. The rules around the federally backed debt has changed a little bit to make it not as taxing on them. But I remember going back pre Covid, where while that person was in residency, their debt would still be growing, be out of school, but their debt's still growing because the interest was still accumulating on that debt. So, yes, broke, busted, and disgusted. There's quite a few clients that can, that can definitely relate to that. So, so, so tell me, as you went through the, the documentary, you know, what were some of the commonalities other than, you know, not knowing what were some of the other commonalities that you found with students around the country?

Adam Carroll 6:31

Sure.

Adam Carroll 7:32

We did three separate groups and we interviewed high school students. Johan started there, started asking them, hey, what, what does college mean to you? What does it look like? Where do You. And we had this cross section of students, all walks of life, all socioeconomic groups in different high schools. And many of them, the majority of them said, well, college is your future. You know, college is a way to get ahead. It's a way to get out of whatever scenario you're in or to get into the scenario you want to be in. And so I thought that was an interesting answer from a lot of them. We went to the college students directly and said, okay, what does college mean to you? How much debt will you have? And we had another cross section of students, more interestingly in that demographic. We talked to university presidents. And one of the university presidents, as we were saying, hey, your students are concerned about what kind of jobs they'll get upon graduation and does that concern you? And we had a private college president say, future employability is none of our concerns. Can you imagine?

Yohance Harrison 8:39

Whoa, whoa.

Adam Carroll 8:41

That I was like, hey, you're on camera, you know, like this. We are rolling crazy. I said, what if not future employability are you after? And he said, we're creating well rounded citizens in a democracy.

Adam Carroll 8:57

And wow. So, yeah, there were answers like that. And then we went to the graduate.

Yohance Harrison 9:03

I'm, I'm sorry, wait a minute. Yeah,

Yohance Harrison 9:07

I'm a little confused here.

Yohance Harrison 9:10

I thought that the purpose of college was to improve employability. I thought that was it. I thought it was the only purpose of college.

Adam Carroll 9:19

Apparently not to this individual. He said flat out, future employability, none of our concern. It was all about, you know, creating these well rounded students, well rounded citizens in a democracy. And, you know, this is a school. Yeah, they're broke. It was a school that was 30,000, $35,000 a year, you know, tuition to go to school.

Yohance Harrison 9:34

Okay.

Yohance Harrison 9:42

That's a hundred, that's six figures when you're done.

Adam Carroll 9:45

Yeah, yeah. Not including room and board. Right. I mean, so we learned a lot. The ones, the, the one group I think Johans, that really speaks to being broke, busted and disgusted were the graduates that we talked to. And we, we would say, hey, what is it like paying back student loans? Or what are, what have your loans done for you? And a couple of the folks got really teary eyed and said, I'm afraid I'll die with it. I'm afraid I'll never be out of it. We had a woman who, she had 300,000 in student loans and she was a doctor of veterinary medicine.

Adam Carroll 10:21

The challenge, yeah, and the challenge for her and many of them, and you could include probably med school students and chiropractors and others, is that they fall in love with their future significant other who is also in that amount of student loan debt.

Yohance Harrison 10:36

Yes, I, you know who you are if you're listening, right? Close to a million dollars of student loan debt because they fell in love while in school.

Adam Carroll 10:46

And it feels somewhat oppressive. This particular woman, she said her minimum payment was twelve hundred dollars a month. So think about, you know, what you've got to do to make any amount of money but enough to pay 1200, which is. Could be a house payment, certainly a rent payment for most people. But I said, well, how much is the debt? She said, 300,000 at 8%. So if you do the math, that's $24,000 a year.

Yohance Harrison 11:11

If we're just talking, it means her balance isn't moving.

Adam Carroll 11:14

It's growing by 10 grand a year. And we started going down this path with her of what is the plan? And she said, I'm on, you know, I'm. Hopefully I will get a debt forgiveness at some point down the road. And the problem with that is, you know, many of those folks who, who encounter debt forgiveness will then have a tax liability at the end of the forgiveness. So no matter what, you know, she probably would owe even 80, $90,000 in taxes if she were to have it forgiven. So this was the, you know, the, the challenge for us in the documentary was people were like, okay, you've highlighted the problem. What's the solution? And candidly, at the time, I didn't know what the solution was short of, hey, you've got to really go at your loans hardcore and get them knocked out. Because, you know, as, you know, as we know, as some of your listeners know, when you're talking about debt levels that large, the interest expense on the debt can eat you alive. So we have to get to the principal and start chewing through the principal in order to minimize the interest expense.

Yohance Harrison 12:14

Oh, yes.

Yohance Harrison 12:21

Oh, yeah. Now, is that where the shred method came from? But was the, which came first shred method or the documentary?

Adam Carroll 12:30

The documentary came first. And then the shred method came second. And what I realized is that, you know, most people, when they're paying back their student loans, Johans, they're paying minimum payments maybe a little bit more. Maybe a little bit more. And, you know, we've, we've worked with folks who will say, well, I have an extra $250 or $500 a month that I'm sending to my student loans, but if they're not really intentional about how the payback happens. And by that I mean saying all $500 of this goes towards this particular loan. To knock it out, what the servicers will do is they'll disperse all 500 dol portion of loans. And they, that that is to their benefit, not to your benefit. And so we teach people how to, how to, you know, take that extra amount and we show them where it comes from and how to leverage it. Right. But go after those debts one by one and really knock them out in, in no time flat so that we can play the lender's game against the lender, essentially.

Yohance Harrison 12:31

Okay.

Yohance Harrison 13:01

Exactly, exactly.

Yohance Harrison 13:09

They sure do.

Yohance Harrison 13:31

Indeed. Now, now, is this is the shred method. Is it similar to the, the more popular methods of the avalanche payment payments or the. What's the other one? Snowball payments? Is that the strategy?

Adam Carroll 13:46

It would be similar to snowball and avalanche. But, but I would say in our own, you know, in our own vernacular, if the snowball is a, is a vehicle, the shred method is like putting nitrous oxide in the gas tank of that vehicle.

Yohance Harrison 13:59

So, so I thought you were going to say it's the snow plow method. You said vehicle. I went to snow plows.

Adam Carroll 14:05

Okay, it could be that maybe I'll. We might trademark like that. There you go.

Yohance Harrison 14:08

You might want to, we, we show.

Adam Carroll 14:10

People how to, to do snowball, but to do it at such a, an elevated sped up process that it kind of blows people away how fast they can be out of debt.

Yohance Harrison 14:21

Yeah, no, no, you're, you're, you're right. You know, I, I have to admit, listeners, I haven't played with the shred method at all. I learned about it as I was doing the, you know, the background research for this podcast. But for those of you that know me and have heard me speak on this topic, I am a huge fan of coming up with ways to dramatically reduce your cost of borrowing. Because here's what we have to admit. If we've borrowed money, it's done. What's done is done. You've already borrowed it. You can't unborrow the money. It's not like you can go and say, hey, just kidding, I didn't get a job, so I don't want to pay for the student loan anymore. I mean, you can, but that's not going to do well for the rest of your life because. And it's very hard to bankrupt student loan debt. There's that too. I mean, it happens to a few people. I mean a small, I know a few people, I can count them on one finger that have been able to achieve bankrupting student loan debt. But I don't know if that's a path that you want to sign up for. For the rest of us, if you're able to find gainful employment and you can, and you have some money coming in and you want to come up with a strategy to pay off your debt faster. Yes. An extra $50, an extra $100, extra 250 dol go a long way towards reducing your debt, especially if you know which debt to apply it to. For those of you that listen to us through throughout Covid, one of our mantras were for student loan debt that, you know, ignore the, the public debt for now since it's at zero interest and zero payment. And if you have private debt, that's still at 5, 6, 7, 8, 10, 11, 12%, throw all of your money at that. And I, I heard from a lot of you, you came out of COVID with your private loans paid off because that's where that payment that you used to be sending to the public loan, you are now sending it to the private loan. Now you can take that money and apply it to the public loan. And I encourage all of you, we'll leave some links here in the show, notes of how you can learn more about the shred method and see if it's a process that can help you get out of debt faster. And like Adam said, really just use the bank's own rules to your advantage because they do have, they have laws that they have to follow when it comes to extra payments. It's just a lot of us as consumers, we don't know what those are.

Adam Carroll 14:47

Yeah.

Adam Carroll 16:38

I don't know. It is, it's the ignorance of, of how those payments are, are applied, how it's processed. It's just a general. I know you talk about this all the time, Johannes, but it's, it's a general financial literacy that. Oh yeah, we all need to understand. And if I may, there's, there's, you know, two or three principles that are central to this working the first one very simply, and I know you talk about this all the time, you have to have more money at the end of the month, not more month. At the end of

Adam Carroll 17:07

flat out, you've got to spend less than you make. And then the second part of that is understanding what do you do with the extra. Because what most people do is they'll stock money in checking or savings. And we have a theory at the shred method, which is lazy idle money that's sitting in savings or checking, checking especially. But lazy idle Money that's sitting and checking is dangerous money. Because if you had an extra thousand or two thousand bucks in checking, what might you do with it?

Yohance Harrison 17:10

Absolutely.

Yohance Harrison 17:40

Oh yeah, I don't like the word extra. I don't. Yeah, extra means that it's, it doesn't have a home. And if it doesn't have a home, then I, I'm more than likely going to find a way to spend it. I will. I mean, as for those of you that, that caught the little change in the camera, if you're watching on YouTube, extra money. For me, that's a new battery, son talking to you. New battery. But yeah, no extra money. Extra money. I think that conceptually in our minds, yeah, extra means unimportant, right? So if we have something extra and it doesn't have a home, then it's like, ah, it's not that important. I can just let it do nothing or I can let it go do something that, that, that, that is not going to be as meaningful. But what I hear you say is that it's not. Let's not call it extra. Yes, you want to have more money than month, but then you want a home, you want a place for that, for that additional, those, additional, not actually those additional dollars to go so that it can add more value to your, to your financial plan long term.

Adam Carroll 17:51

100.

Adam Carroll 18:27

Right.

Adam Carroll 18:45

And the key is that it's going to the most efficient place it possibly can. Which if it is, in checking. You know, one of the things that we know is that if folks say, oh, well, I typically keep however much extra, whatever a number that would be relative to your audience. Five hundred, a thousand, $5,000 extra in checking. It's too easy to go into Costco and walk out with a bounce house or a kayak because you're like, well, I had extra money, so I bought it. And what we're doing is saying, okay, if you have extra, let's figure out where it goes and let's put it there in the most efficient manner possible. But know that you'd still have access to money if you needed it. And there's a big difference in our world of available money versus accessible money. So available money would be money sitting in a checking or savings, or you're safe at home and you could go grab it, you could take it out of the bank, you can look at it, count. It makes you feel good. Accessible money might be you have a line of credit that's available should you need it. Or maybe you have money in a cash value life insurance policy that's There as equity should you need it, that's accessible money. Or this would be the last case scenario, but you have a credit card in case you absolutely need it at that's accessible money. But in the meantime, what we're trying to do is free up cash flow by blasting away the debts that we can, which in this case would be the, you know, the, the student loans or certainly credit cards, car loans and eventually the mortgage.

Yohance Harrison 20:13

Yeah. Oh, indeed. I, I, it is very exciting when I'm able to run those reports and see how much money, if they go through a plan like you're saying, how much money that they will not have to spend. Yeah, on interest. I don't like to save money they saved on interest because we don't know what you're going to do with the money yet. But this is money you're not going to have to commit to interest payments. And now you can commit that money somewhere else.

Adam Carroll 20:44

Yes. And on to that point, one of the other core philosophies we have, and this is more of a, of a truth, it's a reality. But the two greatest expenses that we have in life are taxes and the interest expense on debt. For most people, they will pay the most in taxes. And think about, you know, property tax, income tax, sales tax, gas tax, tax. Yeah, tax, tax, tax on your, on your Social Security taxed income already tax.

Yohance Harrison 21:14

Yeah, I pay taxes on my day, I pay Social Security taxes. And then when I collect my Social Security, I pay taxes on it. So now I pay taxes on taxes.

Adam Carroll 21:20

Taxes on taxes on taxes. And then the, the, the other piece of that is the interest expense on debt, which is, and this is one of those things that a lot of people, again, don't really understand how this works. But 6.6% is the magic percentage rate that if you borrowed some amount of money at 6.6% and you took the entire time you were given to pay it off, you will have paid for that amount of money twice. So if you borrow $250,000 in student loan money at 6.6% over 25 years, or 35, 21 is the average amount of time it takes to pay off a student loan, from what I understand. But at 25 years, that 250 will become 500,000 that you've paid back, and that is the interest on debt. That's like, it's, it's, you know, it's weakening us financially.

Yohance Harrison 22:08

In the end, ladies and gentlemen that are looking to buy a house as we record this podcast, the average interest rate is 6.6% for a 30 year mortgage. So if that means that you are buying a 500,000, 300,000 million dollar home at 6.6 and you only make the scheduled payments, you're going to pay twice as much for that house.

Adam Carroll 22:21

There you go.

Adam Carroll 22:33

Yep. Scary.

Yohance Harrison 22:36

It is. It is. And you'll be surprised what an extra 50, 100 or $150 can do, especially if applied at the right time. That's important too. Gonna have some. Oh, I'm just gonna make one extra payment on my mortgage. I'm like, no, split that out over the year. Because your interest is calculated every single month based on the balance that month. So if you wait until December to make an extra payment, that means you missed out on lowering the interest all year long. We can talk about this for hours, but we can't because it's a podcast. So we gotta wrap things up a bit. So I want to,

Adam Carroll 22:47

Indeed.

Adam Carroll 22:55

Yeah.

Adam Carroll 23:01

Yep.

Yohance Harrison 23:18

before we go into our favorite question that we ask all of our guests, I want to know if you could just share with everyone a little bit more about how they can learn more about the shred method.

Adam Carroll 23:29

The best way to find out more is to visit theshredmethod.com

Adam Carroll 23:34

and on that site, Johannes, we've got a 30 minute master class that basically will walk you straight through the process. If you don't have 30 minutes, you can go to the savings calculator on our page and literally put in your numbers, income, expense, what your debt loads are and it will kick out how quickly you could be out of debt and what you would not spend in interest, I'm not going to say save, but what you would not spend in interest if you were to pay that off. And it's a, it's a free service. So the, the calculator itself will tell you what it is. And if that's intriguing to you, we would love to spend 20 minutes on the phone or on a zoom walking through your exact numbers and show you what is really possible. And if it works for you at that point, by all means, sign up, join our community. But I'll tell you this, we're an education company and a coaching company and then we are a software company. Third, so it's education first, we believe education should be free. So we're gonna pass it out as much as we can. We're a coaching company second, because we believe, just as you do, everyone has money scripts and we have to begin to redefine things like, oh well, I'll always be in debt. I'll Always have a car loan. I'll always have a mortgage. Or as one of my friends grew up hearing and believed, we'll never have a lot of money, so we might as well spend it now. Because we'll never have a lot of money, so we might as well spend it now. So we coach to that. Right? And then last but not least is the software. And we're really building, in the nature of full disclosure, we're building a software company. But our software company exists to help people create freedom and flexibility in their lives. And that's really what the software does for folks.

Yohance Harrison 25:17

Beautiful. Well, again, we'll have links in the show notes for everyone. So, speaking of money scripts, and since you understand the lingo so well with all of our podcast guests, we like to ask a question of them to learn more about their money scripts. And if this is your first time listening to the podcast, this is the money Script podcast. I'm Johannes Harrison. I am a financial advisor by day, podcaster by day also. And this is, as Adam was saying, this is where I like to educate individuals. This is your freedom, your freemium service that you get from, from me and all the guests that we bring to the show to help you grow your financial literacy. Now, a money script is an idea or a learned behavior that most of us develop very early on in life. And it's how we think about money. It's the relationship we have with money. It's the less than a second of the time that it takes for your brain to process how to make a financial decision. You know, when your car breaks down, like, ah, just I'm just go get a new one or versus fixing it. What have you. Your your brain is doing is it's trying to keep you alive, number one, but it's also trying not to waste your time and help you to use your past experiences to get you to a decision, but doesn't always know if that's the right or wrong decision. So with that, we like to ask all of our guests about their money script by asking Adam, what is your first memory of money?

Adam Carroll 26:43

Oh, my first memory of money. This comes. It comes to the top of my mind very easily because I tell the story all the time to audiences. I used to go on vacations with my parents when I was young. They loved to travel. They would take my sister and I to all different places. And we were living in California. We went to the Santa Cruz beach boardwalk. And I remember my dad had given me $20. He gave me a $20 bill and my sister a $20 bill and I was probably six, maybe seven years of age. And he said, this money is for souvenirs or it's for ice cream or it's for candy in the candy shop, but it's yours. You can spend it as you see fit. When it's gone, it's gone and there's no more. Right. He was a big believer in letting us make the decisions and, you know, empower us to have our own agency around money. And as a 6 year old, $20 seemed like a gajillion.

Yohance Harrison 27:36

Oh yeah, yeah, yeah.

Adam Carroll 27:38

I was rolling deep, you know, so. So I. I've got the 20 bill in my back pocket and you know how young kids are. You hans, you want to feel it. You're touching it all the time. My hands are getting sweaty. I'm just excited about that 20 in my back pocket. And at some point I pulled my hand out and the 20 flipped out. And we got into the candy store and I'm choosing all this candy and I'm going up to pay and I'm excited about getting that $20 bill out. And it wasn't there and I lost it. I freaked out. And I remember my sister, this is my earliest money memory. My sister said, how could you be so careless with money? How could you be so. You're so careless with money. And fast forward, I got to 18, 19, 20, 21, I graduated from college. I had 30 some thousand dollars in student loans, I had 8 grand in credit card debt. I was upside down on my car. I mean, I did all the dumb things with money that you would do. Because my script was I'm careless with money. And it wasn't until I re engineered my thoughts around money. And you know, as T. Harve Eker from Secrets of the Millionaire Mind says, if you want to change the fruits, you must first change the roots. And so I went back to the roots of money for me and reconnoitered my thinking around it. And today money comes easily and frequently. Money is my friend. I enjoy it, it enjoys me. We have good company together, but we're both very intelligent about how we use each other. So, you know, the relationship has been repaired. But certainly my early money memory was. I am so careless with money.

Yohance Harrison 29:18

Beautiful story, Adam. Beautiful story. I'm very excited to share that one with all of our guests because I am confident that many of you can relate to that carelessness with money. Because for a second there I thought Adam was telling my story. Especially until about 18, 19, 20 years old. Oh, I had all Those mistakes too. Upside down in my car. I had my brother co sign for a car for me and I still was missing payments. And he's calling me, if you don't make your car payment. And I didn't understand. I'm like, what's the big deal? It was a big deal, right? I'm sorry, bro. I'm sorry. I still, I still love you. I appreciate you. But, but as you were saying, having those, those daily mantras to yourself that money comes easily to you, I remember just to more story. I remember growing up, my parents, because of the financial situation they were in, not even wanting to go to the mailbox because in the mail it was probably a bill or a late notice or this or that. And I want to give a shout out to the musical genius. I'll give him that of Drake because he created a song. And in that song, I'm paraphrasing here, but he says envelopes in the mail, grab a letter opener. Might be another check. Ain't no telling. And I remember when my mindset shifted from fear of what's in the mailbox to excitement. Yes, the check that might be in the mail.

Adam Carroll 30:50

Totally.

Yohance Harrison 30:52

So to all of our listeners out there, I hope there's nothing but checks in your mailbox. And we will see you next time here on the Money Script podcast. Thank you, Adam, for joining us. Don't forget to tell a friend. Tell a friend to tell a friend to get your dose of financial literacy. We have over a hundred episodes. Okay, no excuses. We have over a hundred episodes. And it's not just me. There's so many financial literacy podcasts out there. Consume something more than just music. Consume something more than just news. Consume something that's going to help you grow and learn and develop your money script. So until next time, everyone take care. We'll see you soon.

Seth Harrison 31:35

I'm back. Wasn't that a great show? I hope you learned something. I know I did. Now, before you go trying anything you heard today, remember it is not intended to be specific tax or legal advice. If you need that, go see a CPA or an attorney. If you would like any complimentary consequences consultation with a knowledgeable advisor, visit moneyscript.com and schedule a 15 minute consultation. Want Johans to come speak at your next event? Go to the MoneyScript website for that too. Of course, if you're watching on YouTube, make sure to like comment, subscribe and click the bell for notifications. MoneyScript Wealth Management is a registered financial advisory service in multiple states. Want to learn more? Get the full disclosure on our website, moneyscript.com it.