Masculine Identity | Building Your Credit & Money Up
Summary
TLDRIn this video, Jonathan emphasizes the significance of building credit and financial stability for personal growth and independence. He shares his journey from a low credit score to improvement, highlighting the use of secured credit cards and credit builder loans. Jonathan also stresses the importance of living minimally, saving, and investing wisely, including his successful experience with stock trading and cryptocurrencies. He encourages viewers to start building credit early, work hard, and consider side hustles for financial freedom, ultimately aiming for a comfortable life as a high-value individual.
Takeaways
- 💼 The importance of building credit and managing money is emphasized as a crucial part of masculine identity and financial independence.
- 🏦 The speaker's first experience with credit was a secured credit card, which taught him the value of responsible credit usage and timely payments.
- 📉 He experienced a drop in credit score to 590 due to misuse of credit, highlighting the consequences of financial irresponsibility.
- 🔺 To rebuild credit, the speaker suggests using credit cards for small purchases and paying them off promptly to demonstrate reliability.
- 💳 Opening a secured credit card and maintaining good payment habits can lead to better credit offers and improved credit scores.
- 💲 The speaker recommends credit builder loans as a way to establish a positive credit history and regain trust with lenders.
- 🏡 Credit is essential for securing good rates on major purchases like houses and cars, with a target score of 700 or above.
- 💰 For those starting with no credit or looking to improve, the speaker advises beginning as early as possible to build a strong financial foundation.
- 📈 The video also touches on money building, advocating for a minimalist lifestyle and strategic saving to accumulate wealth.
- 🔄 The speaker shares personal success with stock trading and cryptocurrencies, suggesting it as a viable side hustle for additional income.
- 🤑 Emphasizes the value of side hustles and the importance of hard work, suggesting that increasing work hours can lead to higher earnings and financial stability.
Q & A
What is the importance of building credit according to Jonathan?
-Building credit is important because it is a part of the masculine identity and financial stability. It allows for financial freedom, avoiding living paycheck to paycheck, and is necessary for securing good rates on loans for houses and cars.
How did Jonathan's first experience with credit impact his credit score?
-Jonathan's first experience with credit was with a secured credit card, which he misused, causing his credit score to drop to 590. This experience opened his eyes to the importance of credit management.
What lesson did Jonathan learn from his initial credit mistakes?
-Jonathan learned the importance of using credit responsibly for small purchases and paying it back on time to avoid maxing out credit cards and to build a good credit score.
What is a secured credit card and how did it help Jonathan rebuild his credit?
-A secured credit card requires a security deposit and is for individuals with poor or no credit history. Jonathan used it to rebuild his credit by making small purchases and timely payments, which helped increase his credit score to 660-670.
What is a credit-builder loan and how can it help improve one's credit?
-A credit-builder loan is a type of loan designed to help build or rebuild credit by making on-time payments. It helps establish a positive payment history with lenders and can lead to better credit offers.
How does Jonathan suggest using credit cards effectively?
-Jonathan suggests using credit cards for small purchases of less than a hundred dollars and paying them back as soon as possible, ideally within the same week, to avoid accumulating debt and to build credit.
What role does living a minimalist lifestyle play in building financial stability according to Jonathan?
-Living a minimalist lifestyle helps in building financial stability by reducing unnecessary expenses, allowing more money to be saved or invested back into oneself.
How did Jonathan make money through stock trading and what advice does he give?
-Jonathan made money by investing in stocks like Dogecoin and AI companies, making significant returns. He advises studying the market, companies, and their financials before investing, and treating stock trading as a serious side hustle.
What is the significance of having a side hustle according to Jonathan?
-Having a side hustle is significant because it demonstrates the ability to turn ideas into income and provides an additional stream of revenue, contributing to financial independence.
What advice does Jonathan give for those who have messed up their credit or have low money?
-Jonathan advises those with poor credit or low money to start rebuilding their credit and saving money immediately, emphasizing that it's never too late to get back on track and that hard work and discipline are key.
Outlines
💼 Building Credit and Financial Stability
The speaker, Jonathan, emphasizes the importance of building credit and financial stability, which he considers integral to masculine identity. He shares his own experience with a secured credit card that initially damaged his credit score. Jonathan then discusses the significance of making on-time payments and using credit responsibly for small purchases to rebuild his credit. He suggests using credit builder loans to establish a positive relationship with lenders and mentions a company called Self, which offers credit builder loans. He also advises starting to build credit early, aiming for a score above 700 for better rates on loans and purchases. The paragraph concludes with Jonathan's encouragement for viewers to engage in the comments and share their own credit-building tips.
💰 Maximizing Earnings and Side Hustles
In the second paragraph, Jonathan talks about the value of hard work and the concept of a 'masculine identity' tied to financial independence. He shares his experience of working two jobs and successfully investing in stocks, particularly in Dogecoin and AI companies, which led to significant financial gains. Jonathan stresses the importance of studying and understanding the market before investing, and he mentions various platforms like Cash App, Robinhood, and Weeble for trading stocks. He also touches on the idea of side hustles, using his YouTube channel as an example, and encourages viewers to find ways to turn their ideas into income. He concludes by reiterating the importance of financial discipline and the absence of get-rich-quick schemes, urging viewers to work hard and smart to improve their financial standing.
Mindmap
Keywords
💡Credit
💡Financial Freedom
💡Secured Credit Card
💡Credit Score
💡Minimalist
💡Side Hustle
💡Stock Trading
💡Cryptocurrency
💡Masculine Identity
💡Debt
💡Investment
Highlights
Importance of building credit and financial stability for personal growth and independence.
The journey of building credit starts with understanding the value of money and time.
Using a secured credit card as a first step towards building credit.
Learning from a credit score drop and the importance of responsible credit use.
Making on-time payments to rebuild credit after a setback.
The significance of credit in securing loans for major purchases like houses and cars.
Aim for a credit score of 700 and above for better interest rates on loans.
The benefits of starting to build credit early in life.
Self as a platform for credit builder loans to improve credit scores.
The concept of living minimally to save money and invest in oneself.
The value of having a side hustle or business to generate additional income.
Stock trading as a side hustle and the importance of research and portfolio management.
Using apps like Cash App, Robinhood, and Weeble for stock trading.
The psychological aspect of money management and the drive for financial independence.
The message that hard work and dedication are necessary for financial success.
The reality that there are no get-rich-quick schemes, only consistent effort and smart financial decisions.
Encouragement for young men to take control of their financial future and live independently.
Transcripts
what's good guys it's your boy Jonathan
J coming to another video Let's cook
boys let's cook all right the importance
of building credit and building your
money up guys understand this you're
going to hear high value man get thrown
out there in this space it's a lot of
background work it's a lot of time to
yourself time off this is something that
takes time to build up so no matter how
young you are how old you are if you've
had you know good credit you messed it
up or you've never had any credit and
you're trying to figure out what are
things I can do to build my credit I got
your back but guys a lot of this stuff
you have to implement into your life
because it is a part of the masculine
identity you should be working towards
being financially straight you know
financially free you're not worried
about you know when's the next meal
gonna come or you know living from
paycheck to paychecks this is really
going to help you when you implement
these tips get in the comment section if
you've got things to add on to this list
or things that help you get your money
up and get your credit up guys let's get
together and show fellas this is the way
to do it let's get into it credit and
why credit is so important my experience
with credit and how you can make credit
work for you all right so my first line
of credit was with a secured credit card
and I ended up tanking my credit score
it was at 590 and that was the first
time it really like opened my eyes you
know if you don't have immediate cash
you need to use your credit or if I
don't want to use my debit card and I
want to swipe my credit card for
something small that's the way to go
about it and pay it back on time
that taught me such a valuable lesson
and actually picking myself up and
getting back to 660 670 that really
showed me like yo this is okay because
at that time when I messed my credit up
I was feeling really low you know I was
feeling down about myself because you
know you had all this credit and you
messed it up so quick being
irresponsible so even when you're in the
middle of being irresponsible you know
what's up so guys don't ever play
yourself out because that's all you're
gonna do is play yourself out when you
max out credit cards you want to use
them effectively use them on small
purchases pretty much I tried to when I
got my credit back on track I tried to
not use my credit cards you know I'd
swipe it for like a hundred dollars or
less and pay it back as soon as I could
try to do it like that same week you
know what I mean try not to use it that
much and it really did help build my
credit score but these were tips that I
used to build it up coming back from
taking a major L that I created right so
I opened up a secured credit card this
one was for 500 and then after I held
that one down for a little bit credit
loan these are going to be credit
Builder loans or you know you can start
anywhere from a thousand dollars and up
to build a rapport in a relationship
again with other lenders with credit
card companies so when they see that you
make these on-time payments they will
trust you again and then you'll start
getting offers in the mail for other
credit cards and other deals and you
will just see like okay I'm back on
track because if they trust me to give
me another card or a real card after
making these steps that means that
you're good again but you have to
understand never fall off again with
your credit because credit is just as
important as money guys you're going to
need credit if you ever want to buy a
house and get good rates you're going to
need credit if you ever want to go get a
car and get the best price for like you
know it gets you in a car for the best
price you're going to need your credit
score to be up anywhere from 700 and
above you want to be aiming for if you
want good rates on things also the
younger you are you start now so that
means if you're like 18 19 20 21 you
have no experience with credit guys jump
on it as soon as possible get your
credit score up it's very important
there's another company called self it's
a credit Builder loan and after you hit
but you're really paying yourself back
so if you take out a loan for like a
thousand or above you're making these
monthly payments of I think it was the
lowest you could do is 48 or you can set
your payment 75 100 whatever you want to
do and by the time you reach a certain
amount in the account guys self will
actually give you a secured credit card
from the money that you've already paid
yourself back so if you let's say you've
paid yourself back 300 400 500 you can
take but I think the minimum is 125 so
anywhere from 125 up you can take from
um that money that you've built back
that you're basically just going to pay
yourself back and put it on to a secured
credit card guys that's going to build
your credit as well you're going to see
these tips and tricks actually you know
boosting your credit score by 20 points
10 points five points eight points at a
time it's going to keep going up when
you make on-time payments next thing I
want to talk about is money building
your money up that's why it's very
important to live like a minimalist
you're going to understand like okay my
bills have to get paid and then
whatever's after that I actually sit
down write in my notes or in my
calculator on my phone and I put
together a plan to save understand this
and when you don't go out you have more
money to save or actually you have more
money to then invest back into yourself
you have more money to eat healthier
just little simple tips and tricks like
that that people don't understand like
how could I ever get money for this you
have to cut back somewhere you have to
make a compromise I worked two jobs a
lot guys if you're working 40 hours a
week and you're not in the career field
that you want to be in that makes you
pretty good money there is nothing wrong
with working to jobs you can never think
you're above stuff like that because if
you're not putting in the work 60 hour
weeks 70 hour weeks come on like really
think about it you want to save your
money but you want to do the bare
minimum to save money it just doesn't
work like that guys and that's a part of
the masculine identity knowing that you
know everything rides on your back
everything like if you don't keep going
everything will fall because this is for
you I got really good at stock trading
uh oh Dogecoin you know I made a lot of
money off of Dogecoin uh I probably
invested 500 in Dogecoin I think I made
like five thousand dollars back I
invested 500 like 250 at one time 250 at
another time and my returns from that
were like five thousand dollars crypto
and stock trading it's a certain you
have to have a certain portfolio that
you can leave there to make money but
when I say make money I mean doing it as
a side hustle you can be a stock Trader
guys but it's going to be a lot of
studying you're going to be watching
other channels on YouTube to see what's
about a hit what's about to be big
you're going to put your bid in
basically you're gonna buy some stocks
and you're gonna buy a good amount of
stocks like a good number of stocks I'm
not talking about oh I bought one two
three shares no you're gonna buy 20 30
anywhere to 100 shares of something
always study the company how long the
company's been out you know uh how much
money is into the company how many
shares are available is it being talked
about you have to know the company that
you're investing your money in guys I
made a lot of my money from AI
um companies that are kind of like
Facebook but in other countries just
building up I was just seeing hundreds
of dollars go up and I'm like you know
what let me do a little bit more
research yeah let me pull my money out
and then have what I gained you know
stock trading is a side hustle it's
actually a full-time job for people who
take stock trading very very very very
serious very serious trust and believe I
know there's a lot of doubters no no
guys if you study and you really get
good with your intuition I'm telling you
something about it stock trading is the
way to go no you can use cash app for
stock trading you can use Robinhood for
stock trading you can use Weeble for
stock trading there's a lot of different
you know options there's a lot of
different apps you're gonna understand
like okay so if I needed money real
quick all I have to do is use my brain
and I can make it in just about anyway
that's what stock trading is going to
teach you you're going to feel like yo I
can make money like just for my
knowledge yes that's going to be one of
the first signs that you're going to see
like holy [ __ ] I can actually get money
in other places having a side Hustle
having a side hustle is very important
or having a side business is very
important it shows that you can make
your thoughts come to life
imagine that you woke up with zero money
in your pocket
zero money in your pocket but all you
had was an idea and you actually turned
it into a way to make money YouTube
channel this is a whole side business
this is a whole side business do I do it
for the money no I do it really for the
message that I send to God it just so
happens that this makes money it's the
same thing with the stock trading you
know you put an idea out there in the
world and you really go hard at it guys
it becomes a side hustle I don't care
what you want to do it's like when you
see a kid on the side of the road
selling lemonade for like 99 cents a
glass you know stuff like that makes me
proud because that's the exact same
thing that I'm doing now just in a
different form money isn't everything
but these are things that you need to
have to live in this world it is what it
is see things of this world like money
a lot of other stuff is more important
than that but this is just what it takes
for you to live a comfortable Life as a
young man as a grown man as a complete
man high value man it's never too late
to come back as a man so you might have
messed up your credit you can get right
back on track trust and believe if your
money is low right now you're working
less than 40 hours 40 hours a week why
aren't you saying money no no no no news
flash you're not working hard enough 55
hour weeks instead of 40 hour weeks to
get more money that's just what you got
to do if you have to stop going out with
your friends
and stop following behind people having
fun going clubbing and all this stuff
guys you're going to save your money you
know there's no get rich quick scheme
these were tips and tricks that I use to
get back on track when I messed up my
credit and guys I'm telling you right
now life is a lot better so if you want
to build your credit up or if you've
never had credit before start right now
this is going to be a part of
Independent Living so if you're a young
man still living with your parents or
you have a roommate this stuff is very
important it's your boy Johnson J get
with you boys in the next video like
comment subscribe let's go boys let's go
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