Color Full Lives is hosted by Angela Yee (@angelayee of The Breakfast Club and Lip Service) and Aminatou Sow (@aminatou of Call Your Girlfriend). The show is sponsored by State Farm® and Loud Speakers Network. The hosts’ real talk on personal finance and candid conversations with influencers strives to empower women of color to up their financial IQs, lives, business and careers. The podcast is available on Apple Podcast, Soundcloud, Spotify or your favorite platform. This week, PB86 Guest: Tonya Rapley of MyFabFinance.com, Rich (@IamRichJones) and Marcus (@TheMarcusGarret) join the hosts to discuss:

• Millennial Money expert, Tonya Rapley, shares her story on financial abuse, how to avoid spending triggers, and how she paid for a budget-friendly destination wedding in cash
• The inspiration behind Marcus’ book series, Debt Free or Die Trying, and how accumulating $26,000 in debt in 72 hours cost him 7 years of financial dependence
• The importance of budgeting, how to automate your way to retiring a millionaire, and why your own lifestyle inflation might be blocking your blessings

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References Mentioned on This Show

• Social Media
  • Hosts: @Aminatou & @AngelaYee
  • Guests: @MyFabFinance, @IamRichJones, @THEMarcusGarret
  • Producer: @mattRAZ
• Debt Free or Die Trying
  • Debt Free or Die Trying: How I Buried Myself in $30,000 in Debt and Dug My Way Out by Age 30 – The book detailing the sometimes serious, most-times amusing story of how Marcus buried himself in over $30,000 in debt.
  • (eBook) Debt Free or Die Trying: A Simple Guide for Creating a Debt Free Plan You’ll Actually Follow – This follow-up to the original DFDT book drops the background story and gets straight to the facts on how to create a budget and start your own path to debt freedom; one you’ll actually finish.
• 10 Pages a Day Challenge
  • PaychecksAndBalances.com/Books – we’re reading and reviewing 15 of the best Personal Finance books available so you don’t have to
• Recommended Podcasts
  • PB26: Behind the Brilliance ft. @LisaNicoleBell
  • PB65: The Billionaire Mindset with Tyrone Jackson
  • PB75: Paychecks on a Plane ft. Brian Fontenot of Driftr Travels
• Recommended Reads
  • How to Save 1x Your Income by Age 30 Even on an Average Salary and Retire a Millionaire
    • Assumptions: Starting at age 20 with an Average Return on $253/monthly ($8/day) savings by age 67
      • 10% Average Return: $2,648,676 (value at age 67)
      • 7% Average Return: $1,000,000
      • 4% Average Return: $403,830
    • $253/month is about 10% of an annual Single Person’s Median Income of $30,622 – and this assumes they never receive a raise or promotion in their entire life. $253/month is about 5% of the Household Median Income of $56,516
  • VSB on the Root.com – How Marcus Got $26,000 in Debt in Less Than 72 Hours

Additional Resources

• What’s a good episode for people to start with? Episode 69 with Patrice Washington, who is also known as America’s Money Maven and is a regular on the Steve Harvey show. We hit entrepreneurship, financial tips, the importance of saying no, handling family members that come to you for money.
• Our fastest downloaded episode? Barely Making It on $500,000?! We discuss FinancialSamurai.com’s Scraping By On $500,000 A Year: Why It’s So Hard For High Income Earners To Escape The Rat Race.
• PB20: Lifestyle Inflation + Millennials Winning!
• PB73: Mastering Financial Independence with Robert Farrington
• PB70: Make Money Moves: Employees Who Stay In Companies Longer Than Two Years Get Paid 50% Less
• P&B Blog: How Much Home, Car, and Debt You Can Afford on a 30, 50, and $100,000 Salary