WEBVTT 00:00.231 --> 00:14.909 [SPEAKER_00]: people are right when it comes to the math, but I want to say this clearly right up front because I get emails about this every single, I would say every single day to be honest with you and I'm still going to tell you to ignore the people who are only focusing on the math. 00:15.805 --> 00:16.566 [SPEAKER_00]: and here's why. 00:17.046 --> 00:23.511 [SPEAKER_00]: Because being right on paper and being right in your actual life are two completely different things. 00:23.671 --> 00:28.095 [SPEAKER_00]: And today, and today, I've got the research to prove it. 00:28.355 --> 00:32.198 [SPEAKER_00]: Listen, before we get into it, I want to say, man, welcome back to the table daily. 00:32.478 --> 00:33.739 [SPEAKER_00]: It's your boy Anthony O'Neill. 00:34.000 --> 00:35.180 [SPEAKER_00]: What was in the next 10 minutes? 00:35.200 --> 00:41.546 [SPEAKER_00]: I'm going to give you one truth, one move so we can keep it going and get you from being living page at a paycheck to 00:45.296 --> 00:46.677 [SPEAKER_00]: I want to tell you about a couple. 00:47.377 --> 00:48.738 [SPEAKER_00]: I think about often, right? 00:49.198 --> 00:50.959 [SPEAKER_00]: We'll call them Marcus and Renee. 00:51.579 --> 00:53.500 [SPEAKER_00]: Five deaths between them both, right? 00:53.800 --> 01:09.587 [SPEAKER_00]: A $400 medical bill, a $2,800 credit card, a $7,000 car loan, a $13,000 student loan, and a mortgage, they're not even touching it when it comes to paying it off. 01:10.327 --> 01:15.110 [SPEAKER_00]: Marcus is an amazing dude and he's an engineer, he's a numbers guy. 01:15.491 --> 01:21.074 [SPEAKER_00]: He ran the interest race on every single one of the debts that he and Renee have together. 01:22.255 --> 01:26.398 [SPEAKER_00]: He told me, man, we attack the credit cards first. 01:26.418 --> 01:27.619 [SPEAKER_00]: 22% interest Anthony. 01:28.199 --> 01:29.600 [SPEAKER_00]: That's the smart move. 01:30.060 --> 01:32.822 [SPEAKER_00]: That's what saves us the most money. 01:40.548 --> 01:41.429 [SPEAKER_00]: dollar for dollar? 01:42.609 --> 01:44.351 [SPEAKER_00]: That is the optimal order, right? 01:45.551 --> 01:50.214 [SPEAKER_00]: But three months into attacking that credit card something happened that Mark has did an account for. 01:51.535 --> 01:52.676 [SPEAKER_00]: Nothing felt different. 01:54.672 --> 02:09.716 [SPEAKER_00]: the balanced move that little excitement that they started was going and Renee told me later that she felt like we were bailing out a boat with a teaspoon. 02:10.656 --> 02:14.977 [SPEAKER_00]: Meaning we're pulling something and is barely going anyway. 02:17.515 --> 02:29.717 [SPEAKER_00]: By being honest with you, they quit, not because the math was wrong, but because the math never acts how it would feel to keep going for two years before the first debt disappear. 02:33.892 --> 02:39.714 [SPEAKER_00]: So when he brought this up to me, I, I, you all know me if you follow me, I told him told them to do something instead. 02:40.034 --> 02:41.774 [SPEAKER_00]: Forget the interest rates for a second. 02:42.354 --> 02:45.375 [SPEAKER_00]: Line up every debt from smallest balance, two largest. 02:46.095 --> 02:54.598 [SPEAKER_00]: And you know what, for the next 90 days, I want you to attack the $400 medical bill first with everything that, that, that they had. 02:56.058 --> 02:58.259 [SPEAKER_00]: Y'all, I say give me 90 days. 02:59.459 --> 03:00.739 [SPEAKER_00]: It was going in three weeks. 03:01.379 --> 03:02.840 [SPEAKER_00]: And less than 30 days. 03:03.651 --> 03:05.213 [SPEAKER_00]: And Mark has said something to me. 03:05.593 --> 03:06.514 [SPEAKER_00]: I'll never forget. 03:07.295 --> 03:07.975 [SPEAKER_00]: He said, A.O. 03:09.517 --> 03:09.797 [SPEAKER_00]: A.O. 03:10.398 --> 03:16.384 [SPEAKER_00]: I know this isn't the smart way, but I haven't felt this hopeful about money in years. 03:22.511 --> 03:23.792 [SPEAKER_00]: I said, well, how was that not smart? 03:28.177 --> 03:36.221 [SPEAKER_00]: Sounds smart to me, because here's a number I want you to actually sit with because it settles this argument for good. 03:36.822 --> 03:43.545 [SPEAKER_00]: You see in 2012, two marketing professors published a study in the Journal of Marketing Research. 03:44.065 --> 03:52.610 [SPEAKER_00]: They pulled real data from more than 6,000 households working through actual consumer debt payoff plans. 03:53.450 --> 03:58.233 [SPEAKER_00]: not hypothetical spreadsheets, real people with real balances. 03:58.653 --> 04:00.534 [SPEAKER_00]: And they found, watch this. 04:04.277 --> 04:11.281 [SPEAKER_00]: This is what gives me this is what they found that it's going to end all of the debates. 04:11.321 --> 04:14.563 [SPEAKER_00]: We're going to end all of the arguments moving forward. 04:15.608 --> 04:43.847 [SPEAKER_00]: send this to all of your deep social media influencers that the household that attack their smallest balance first were significantly more likely to become completely dead free than the households that attack the highest interest rate first not slightly more not not not not significantly more like crazy more 04:44.948 --> 04:53.515 [SPEAKER_00]: That's bad grammar, but like, studies are showing that the people doing the wrong math were finishing the race. 04:55.097 --> 04:59.560 [SPEAKER_00]: The people doing the right math were quitting somewhere in the middle. 05:00.901 --> 05:02.082 [SPEAKER_00]: What's more important? 05:03.564 --> 05:07.507 [SPEAKER_00]: Doing it technically right or finishing. 05:09.772 --> 05:11.794 [SPEAKER_00]: Now I've got to ask a question, why this is happening? 05:12.334 --> 05:15.577 [SPEAKER_00]: You see, because debt payoff isn't actually a math problem. 05:16.517 --> 05:19.300 [SPEAKER_00]: It's a behavior problem wearing a math costume. 05:20.120 --> 05:23.583 [SPEAKER_00]: And behavior runs on momentum, not logic. 05:25.145 --> 05:29.446 [SPEAKER_00]: Let me say it one more time, behave your runs on momentum, not logic. 05:30.187 --> 05:31.987 [SPEAKER_00]: Think about it like this, think about it like this. 05:33.008 --> 05:40.790 [SPEAKER_00]: If it takes you 18 months before you eliminate your very first debt, your brain starts asking a dangerous question around month 6. 05:41.550 --> 05:42.851 [SPEAKER_00]: Is this even going to work? 05:43.551 --> 05:46.172 [SPEAKER_00]: But if you eliminate a debt with that three weeks, 05:47.153 --> 05:58.048 [SPEAKER_00]: then another one, but then the next six weeks, then another one, within six months, your brain starts asking a completely different question, what else can we knock out? 05:58.869 --> 05:59.890 [SPEAKER_00]: What else can we do? 06:00.591 --> 06:04.296 [SPEAKER_00]: And that shift right there is the entire game. 06:05.263 --> 06:09.145 [SPEAKER_00]: I was 20 years old with exactly $6.32 to my name. 06:09.625 --> 06:15.888 [SPEAKER_00]: I remember specifically cutting up a cheeseburger in half because it wasn't just dinner, it was dinner for two nights. 06:16.608 --> 06:20.370 [SPEAKER_00]: I thought being broke and living paycheck to paycheck was normal. 06:20.410 --> 06:25.112 [SPEAKER_00]: Looking back at it, I wasn't just broke, I didn't have a system in place. 06:25.372 --> 06:28.714 [SPEAKER_00]: Everything changed when I learned how money actually worked. 06:29.274 --> 06:34.795 [SPEAKER_00]: That's the roadmap that I specifically put inside of my brand new books that I've lived in page at the paycheck. 06:34.956 --> 06:43.338 [SPEAKER_00]: If you're tired of surviving and you're ready to start thriving and building, go to anthonyoneo.com for a slash book and order your copy today. 06:43.638 --> 06:46.638 [SPEAKER_00]: Again, that's anthonyoneo.com for a slash book. 06:47.059 --> 06:52.420 [SPEAKER_00]: And let's go from surviving to thriving instead of your kids up to really have work. 06:54.045 --> 06:55.166 [SPEAKER_00]: But here's the stick apart. 06:55.626 --> 07:06.813 [SPEAKER_00]: I want you to remember, see the dead avalanche wins on paper, the snowball wins in real homes because momentum is the fuel that finishes the plan. 07:08.394 --> 07:14.618 [SPEAKER_00]: So I would never argue with a financial person that says, do the dead avalanche way because it will save you money. 07:14.738 --> 07:20.962 [SPEAKER_00]: If I gotta pay a little bit more in interest, so I can complete the goal, I'm gonna do it. 07:25.813 --> 07:27.057 [SPEAKER_00]: So let me ask you a question. 07:28.862 --> 07:30.487 [SPEAKER_00]: I want you to answer this honestly. 07:31.801 --> 07:39.703 [SPEAKER_00]: Have you started a smart debt pay off plan before and quit somewhere in the middle? 07:40.943 --> 07:48.505 [SPEAKER_00]: Do you know exactly how many separate debts and different kind of accounts you have right now without looking anything up? 07:49.105 --> 07:56.547 [SPEAKER_00]: Have you ever gone months attacking one big balance without feeling like anything actually changed? 07:57.842 --> 08:04.807 [SPEAKER_00]: If any watch this, if any of that sounds familiar, this episode is for you. 08:06.833 --> 08:07.673 [SPEAKER_00]: Here's your move today. 08:08.434 --> 08:12.295 [SPEAKER_00]: And I want you to grab a pen, not your phone notes, all right? 08:12.735 --> 08:13.855 [SPEAKER_00]: But an actual pen. 08:14.796 --> 08:19.197 [SPEAKER_00]: I want you to write out every single debt you have, not your mortgage, okay? 08:19.957 --> 08:24.199 [SPEAKER_00]: Everything else lists them from smallest balance, two largest balance. 08:24.419 --> 08:25.779 [SPEAKER_00]: It doesn't matter the interest rate. 08:25.879 --> 08:28.620 [SPEAKER_00]: I don't even care about the interest rate right now, all right? 08:29.320 --> 08:35.243 [SPEAKER_00]: Doesn't matter what the map nerves say, doesn't matter what freaking social media says. 08:35.623 --> 08:38.964 [SPEAKER_00]: It's the smallest amount to the largest amount. 08:39.504 --> 08:42.826 [SPEAKER_00]: Now, I'm going to circle the smallest one on that list. 08:43.106 --> 08:48.388 [SPEAKER_00]: And that circle right there is the beginning of the end of this fight. 08:54.657 --> 09:01.659 [SPEAKER_00]: That list you just made is the exact starting point of phase two and my brand new book stopped living page at a paycheck. 09:02.019 --> 09:04.639 [SPEAKER_00]: This is what I call clear the ground. 09:04.979 --> 09:06.940 [SPEAKER_00]: I'll walk you through the entire desk no ball. 09:07.360 --> 09:09.220 [SPEAKER_00]: Minimum payments on everything else, right? 09:09.781 --> 09:18.343 [SPEAKER_00]: Everything extra thrown at that smallest balance and then rolling that freed up money towards the very first one. 09:18.683 --> 09:21.083 [SPEAKER_00]: And then once you pay that off, it goes to the next one. 09:25.644 --> 09:26.585 [SPEAKER_00]: completely dead-free. 09:27.725 --> 09:34.528 [SPEAKER_00]: I even showed you inside of the book on how to get some extra income instantly to put towards the person. 09:36.689 --> 09:41.611 [SPEAKER_00]: Y'all listen, Mark is in Renee's story, sounded a little too familiar. 09:43.212 --> 09:44.032 [SPEAKER_00]: I need you to hear this. 09:44.652 --> 09:47.733 [SPEAKER_00]: You don't need a smarter spreadsheet. 09:48.294 --> 09:51.075 [SPEAKER_00]: You need a plan that's built for how real 09:54.866 --> 09:59.311 [SPEAKER_00]: bat, I will say by real research and real resource. 10:00.332 --> 10:04.476 [SPEAKER_00]: That's exactly what I built in size top living paycheck to paycheck. 10:04.896 --> 10:07.178 [SPEAKER_00]: I'll walk you through the full five phase escape plan. 10:07.899 --> 10:11.523 [SPEAKER_00]: Starting with the Death Snowball method that thousands of families. 10:12.063 --> 10:26.349 [SPEAKER_00]: have used to go from overwhelmed to completely debt-free one small win at a time and they are completely debt-free on average 18 to 24 to 26 months of doing the program that is inside of my book. 10:27.509 --> 10:32.971 [SPEAKER_00]: And all you guys do is go to anthonyow.com for us as book right now and pre-order your copy today. 10:33.612 --> 10:39.054 [SPEAKER_00]: Whatever this you just wrote out, this book turns it into a plan you actually 10:41.028 --> 10:41.868 [SPEAKER_00]: This is not fluff. 10:42.108 --> 10:43.349 [SPEAKER_00]: This is not a money book. 10:43.909 --> 10:45.170 [SPEAKER_00]: This is a freedom book. 10:45.670 --> 10:51.612 [SPEAKER_00]: And I give you this strategy to go from where you are now to financial freedom tomorrow. 10:52.273 --> 10:57.475 [SPEAKER_00]: All you have to do is go to anthonyoneau.com for us to ask book and get your copy today. 10:58.315 --> 11:03.217 [SPEAKER_00]: Remember family, I'm saying this, put a rest of the year, freedom. 11:05.458 --> 11:06.679 [SPEAKER_00]: It's better than being rich. 11:07.239 --> 11:08.059 [SPEAKER_00]: I'm Anthony O'Neill. 11:09.060 --> 11:13.061 [SPEAKER_00]: Go to anthanelno.com for a slash book or to your copy today. 11:14.022 --> 11:16.423 [SPEAKER_00]: And I'll see you on the next episode. 11:16.643 --> 11:17.703 [SPEAKER_00]: Make sure to share this with somebody. 11:18.044 --> 11:18.444 [SPEAKER_00]: Peace out.