Transcript
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got a gift from Hashem got a gift from
God and something it's called a brain
unfortunately for whatever reason most
people don't use the brain not only can
it hold you back but it can actually
cause a negative effect on a person and
the society imposes on you what is
normal and what is not normal especially
when it comes to spending on weddings it
comes to spending on SAS he causes you
to have years you you you give up you
despair if you can't keep up with the
Joneses and so you're you're just you're
touching on something so so crucial this
is what we're going to focus today on
your finances using your brain when it
comes to finances get K the wisdom for
your
[Music]
will and we are
on okay good morning
Reb yes good morning how are you Reb
shulam listen I I couldn't be any better
to start my day off with k x in front of
me how can I ask for more than that
that's that's so nice of you saying that
the feeling is mutual thank you
appreciate that
okay okay so let's talk about we covered
we covered the the first pillar we
covered the second pillar right and
today we're going to we're going to
cover the pillar number three in
order in or D Jew or somebody who
follows us to
have and their finances we discovered we
cover two pillars and now we're going to
get to the second pillar but I think
maybe it's it's it's good to take a
minute and quickly review the first two
pillars so this way if if somebody
listens to this without having listened
to the first two they they should still
be on board right
okay so the first pillar was that you
should find and do what you love
doing right what your talent is and
we're not going to go in too length to
that you can go watch the first episode
for that second pillar was reverse
budgeting meaning that you should take
the savings should be an expense and it
should be the first expense and we
covered in length how to do that and now
finally we are in pillar number three
and and pillar number three and there's
a reason why this is number three and
we'll talk about it in a few minutes but
there's a reason why it's number three
and it's important to be um you know I
think pillar number three everybody can
do in the second that they listen to it
and most people already do it but I
designed it in pillar number three for a
reason that we're going to talk in a few
minutes but what is pillar number three
okay pillar number three is every person
as far as I know got a gift from Hashem
got a gift from God and
something it's called a
brain
unfortunately for whatever reason most
people don't use the
brand they would rather you know I once
heard a quote most people would rather
die than think of course this is
important important in every area of
your life but even more important when
it comes to your finances and this is
what we're going to focus today on your
finances using your brain when it comes
to finances meaning don't spent because
other decided that you have to spend for
a certain for a certain expense and you
know where we see that mostly is when it
comes to certain expenses that the
community has because uh uh because of
the of peer pressure or because of
culture um you can see it any times that
the S is involved um you know you make a
in in America we call that you know the
the Joneses you know you try to copy the
Jones us and and sometimes at least you
know I grew up in a a fir family a
family that we always wanted to do that
I think and and and my parents always
spoke about not copying the Joneses not
wanting to be like the the
the typical American secular guy that
tries to you know stay away from from
from I don't know what to call it maybe
modernis
modernism right try to stick to your
Orthodoxy try to try to stick to what
you what you have what you and and it's
important it's an important lesson but
you know what happens then you know it's
interesting how this is happening but
you know what happens then is that you
stay away from the Joneses from the
street and you pick the Joneses from
your local Street meaning from your
community from
your place where you D
so so if like it's still copying people
but it's a different style and it's more
beautiful you know it's it's you're
talking about from people you copy them
with beautiful things but unfortunately
what happens is you stop using your
brain and the society imposes on you
what is normal and what is not normal es
especially when it comes to spending on
weddings it comes to spending on SAS
Society imposes on you what is it that
you should do and you're still copying
the Joneses but you know the more
righteous Jes let's put it this way
right you're touching on something that
is so so I mean it's just so crucial
I you talking about keeping up with the
Joneses and and it's not just in gash
it's in Nas as well we we we we we're
surrounded by all kinds of you know I
let's just take an example I was
speaking to somebody recently who just
said they they're just they don't spend
a lot of time learning anymore you know
learning TI why because he was trying to
do the death you me and he couldn't keep
up with it and it was just too much for
him and and he just so he gave up so I
said why are you doing the D he says
because he surrounded by everybody else
who does it he felt so much peer
pressure he has to do it but because it
wasn't his thing it wasn't for him he
just gave up so keeping up with the
Joneses is not just in Go in all areas
of our lives but it can have a neg not
only can it hold you back but it can
actually cause a negative effect on a
person you C you to have years you you
you give up you despair if you can't
keep up with the Joneses and you know so
I say you're you're just you're touching
on something so so crucial that it it
can have such a negative effect if we're
not like you said using our brains to be
aware of that right 100% and let's take
it a step further and now you now we'll
talk about how it comes into the the
three pillars somebody's already already
found why they love doing they do what
they love doing
beautiful the pillar one check next
reverse budgeting they save for for
Simas for retirement for you know buying
a house whatever it is passive income
they save and they do a good job they
discipline check next o all my money is
gone why because this is the standard
because this is what everybody else is
doing this this is what my friends
expect from me this is what uh the
society decided that you can't embarrass
a or aala and to do this or to do that
or not to do this or to do that is
called embarrassment okay my whole
financial plan collapsed now don't get
me wrong I love beautiful music and I
love levish uh kasas I love
it certain parts of it I like M than
other uh I like more than other parts
but what bothers me is when I see so
many people even people with money that
have money people with they have the
means and they spend money when they
make SAS and all you know it looks like
it's a very good thing why not you know
they have the money but then you speak
to them you see they don't even
appreciate it they only do things
because they hire a party planner who
tells them you know all people in your
category do this or that you know M why
why do I have to do what others decide
that is the normal take the money and
save it take the money and do something
that you love doing you know go play
something I don't know or take the money
and give it s to somebody else who's
making KAS the same night as you make
KAS your daughter and and uh and help
somebody else you don't even like it
that what that's what's so uh I don't
know if I should laugh about you know
you don't even like it why why do you do
it and this is the reason why a lot of
people's financial plan Falls up
part but but you have to admit that at
the end of the day it's not you know you
make it sound so easy use your brain go
ahead fight peer pressure but
Lisa we we want to fit in our kids wanna
our kids want to be a part of everybody
else our our family we want we want to
fit in you're you're you're talking
about something you know which is
crucial which is so important but at the
end of the day it's not so simple you
know I mean we we have a drive a desire
to to to to feed into peer pressure for
a reason so right so how how when you so
using your brain like so what's what
what are you what are you proposing how
does that happen Okay so we want to fit
in and I I want you to listen carefully
you know maybe when we finish this this
lecture this recording this episode I
want you to look back to what you said
and look back at the words that you used
I don't know if you even realize the the
words that you use you use the words we
want to fit in I will our children want
to period period period and then you
came back to you so this is the excuse a
lot of people use and I tell you why you
why people use the words our children
want and it's an excuse it's not because
they verified it and it's not because
they know it it's an excuse for people
to get away with nonsense by using their
children as a shield you
knowas you know the terroristas they use
the human Shields they use children as
Shields we also use children for Shields
to get get away with stupidity sometimes
we use children's as children as as as
Shields and I give you and I give you an
example why I know that to be true okay
um a few years ago I was involved with
something called the $10,000 wedding
wedding challenge you know you probably
remember that I remember you were you
were on the cover I think mishak it was
on the cover on the Amy you know it was
am cover covered all over the place and
it made
a it helped a lot of I know fact that it
saved millions of dollars from Jewish
people so from all kind of you know all
all all
circles I got invited to to to to to a g
convention and then to certain killas
called me you know it's a it's a long
conversation maybe another time we'll go
into more details but because of that
people knew me that I I'm active in
helping people in between you and me my
activeness was more raising awareness
not something on do this or do that I
showed what I did and I raised I raised
awareness so anyway long story short I
still lived in New York I was in Israel
for a few days a Yeshiva called
me they they they it was a Isa with more
uh mostly American boys American bam and
they called me I should come speak for
the BAM about kasas something like that
you know the all B of age so it looked
like they wanted to inspire the Bim to
to think straight when it comes to SAS
so I had a whole conversation with the B
and I think the the I think the story is
was written in the Ami back then so I I
spoke it was like 50 or 60 bam American
bam and I think one or two of them were
KAS and the rest of them were not kasan
yet and I asked from the BAM to show me
by raise of hand how many of you were
ever explained how money
works and of course nobody raised their
hand and when I was a boy I was not
taught how money works either when you
were a boy did they teach you how money
Works Basics no so I thought maybe back
then 20 20 25 years before back maybe
they didn't teach it but now maybe they
teach it but nobody was
taught so I asked them do you know how
much effort your father puts in into
earning
$5,000 most of them didn't
know they didn't relate the earning and
the and the effort that that that that
they put into that so I had a whole
conversation with
them and I asked them you know they were
all of them will probably or already go
withas and average cost of back then was
about
$6,000 and I'm sure today it's much much
more so I asked them if I ask you such a
question I give you two options option
number one to have a stro for
$6,000 and your father should have to
work three weeks full-time for
that and not only that because of that
he's not going to have what he needs in
other areas of his life or or he's going
to have to borrow the money or he's
going to have to take a loan and repay
with interest or without interest but
basically it's going to cause him a lot
of headaches and uh and heart Acts
or I give you another option you should
have a cheaper strumble maybe only two
$3,000 and you shouldn't shouldn't be so
hard for your father what would you
choose yeah 49 B
raised their hand that they would choose
the second
option so I told them you know
why you know why so why don't Kasam
choose that you know because nobody
spoke to them they already they all told
me because nobody spoke to them Common
Sense what I just said is
complicated what I just said is
something that only I was able to
communicated it's not something that
every father can communicate with there
some maybe not every but most of them
cannot communic Comm unicate I think
it's something very simple
now after the whole the whole
conversation it was like an hour
conversation um they all committed they
all committed to me that when they be
going to become kasan they're going to
make sure to tell their father and their
future father-in-law that they don't
want them to spend money on anything
that's not absolutely needed they don't
need it it's okay you don't have to buy
me Furniture you don't have to buy me
whatever you know in every Circle they
have different things that they spend on
so they all committed to it now one guy
raises their hand and says no I don't
want I don't want I want the best I want
my color to get the best jewelry I it's
G to cost so much for the and maybe they
don't have the money I don't know what
to tell you it's not my problem it's
their problem I won that that was one
guy out of 50 and I'm sure this Booker
has other issues also maybe you know
maybe a good therapist would help I
don't know what but but but try to think
you know and I I speak about in length
in my book about this the upcoming book
you know people emailed me you talk
about the book you know what's the name
of the book where can I buy it so I
forgot to say it's not out yet it's I
hope it's going to be out for for New
Year for January 1 sometimes during
something like that
so
so I I I I ask a question I ask a
question and and I laugh when I talk
about it because I feel like silly to
talk about it but you know I'm one one
of us I I'm also I'm also in the same
Peck I ask a
question when you send your children
toer to school are you looking for the
best schol that can educate them and
make them the best yeen
possible I'm sure the answer for every
Orthodox parent is yes so you're trying
to put them in schools where they teach
them TOA they teach them they teach them
M
everything five star you want the best
and somehow somehow somehow we we we we
were to have the best school system in
the world for for for to teach them
these three things but so somehow when
it comes to Common Sense and finance we
failed when we say our children will not
accept anything less than blah blah blah
in other words what you're saying is we
teached our children that they should
keep up with the Joneses we keep we
teached our children that that that we
should spend money that we don't have we
teach our children that tati when he
sees that so and so makes such a
beautiful wedding is not going to be
able to to make a wedding within it his
means because it's not going to past him
and then he's going to put the blame on
me it's m it's it's unbelievable how
wrong we went with this because it's not
our children's fault it's our fault for
two reasons number one because we want
to keep up with the Joneses and and it's
totally okay I'm totally fine nobody is
a Muslim nobody is complete everybody
has their flaws and including myself I
have my flows but we have this flow and
don't tell me that's your children and
then if you're going to keep telling
it's his problem it's her problem no
chance of going out of it at least if we
face it right in right right in the
middle we look at ourselves we say yes
yes this is the situation yes I'm not
where I want to be yes maybe I need
therapy maybe but but be honest hello
it's it's it's it's our issue you
understand what I'm
saying I totally I totally understand
what you're saying and it's not unusual
to blame our children I mean that's you
know that's saw complaining when they
left the mbar who we gonna you know we
we I'm sorry R ra said if I don't have
children who can I blame all my my my
troubles on you know I I that's it's a
very normal thing and you're fighting
human nature not that not that that's
wrong but you're you're fighting a big
you're fighting a mountain here and I I
I fully agree with you you're talk but
you're talking theoretically this is the
way it should be but on a practical
level
Lisa what small steps can people take
when they're fighting such such a giant
when they're fighting such a huge
challenge you know you you you of course
what you're saying is use your brain and
it makes sense but what I to IAL tips
can you offer that can make it a bit
more you know realistic because the
day excellent question so now I like the
question because you're asking what
practical steps can people take so now
we talking on Thea on on on what can be
done first thing that can be done is to
talk about it be honest and talk about
it and not only between you and you talk
about it to your wife to your husband to
your children by every shabas table
bring in the and the children of living
within your means not having to live
like the Joneses now um I tell you I
tell you this you know whenever somebody
talks to me about this subject I usually
start before I before they even open
their mouth I want to know one thing
like are we talking about somebody who
has the money for it or doesn't have the
money for it if you're talking about the
person who doesn't have the money for it
and then he starts talking about yeah we
can't do it because of this because of
that that okay so what do you want to do
but you don't have the money what are
you going to do you're going to steal
you're going to collect you're going to
battle I mean
stealing you're not allowed to
steal battle I mean where to pay it back
from go collect so maybe we should
involve the nunam in the conversation
the donors if it's important or it's not
important that's one thing and then the
other thing is we are we we created a
situation for ourselves that that in
order for things to change we need
everybody to change so the killas get
together all well- intended Tunas they
all mean well they all want to help it's
beautiful thing that that's are doing
but the underlying foundation for that
is that in order for the situation to
become better or to not be so bad we're
GNA make Tunas what is Tunas Tunas is
basically we're GNA say everybody needs
to do this and this way we can expect
that even the person who doesn't have
the money will you know will be will not
be embarrassed of you know making a
cheaper let's say okay and but it's true
in every area not only only with kasas
and I think it's such a it it's very
reactive and it's very good for the
person who is very lazy to use his own
brand but for somebody who really wants
to do for for example I I want to ask
you when I say you I don't mean you I
want to ask you the listener I want to
ask you the listener I look you straight
in your face and I ask you a question
tell me you want to be successful only
if the surroundings of you decided to be
successful or you want to be healthy
only if everybody else decided to be
healthy or you decided that you want to
be healthy and you want to be wealthy
and you want to be happy and you want to
live the way that meant for you to live
you know what's the truth about you you
put you put a condition of society to
perform in order for you to be able to
be productive I don't think that's you
it's only because you're surrounded with
so many people that do that you know you
go every day and and and sit with people
for two hours who are eating junk food
all of a sudden you're going to eat junk
food you sit with smokers you're going
to be a smoker you sit with uh wealthy
people you're probably going to become a
healthy a wealthy person you sit with
poor people you're probably going to
become a poor person but if you sit with
people that the whole day they're
thinking about what everybody else is
doing and that's the only way that they
can succeed you're also going to get in
a such a situation you're only going to
be able to succeed if everybody else is
exceeding I'm hearing a couple things
from you I asked you practical steps I
hear two very clear practical steps that
you've offered so far number
one it's share it with your family share
with those around you your values talk
to them about it so that you're all in
the same page so you're not fighting at
this on your own but you you're creating
an environment where everybody's sharing
the same values that you're sharing
regarding how you want to spend your
money and regarding the Tren to fight
the trend of keeping up with the Joneses
and you're saying one of the ways to do
that is by simply you know you said
chabus during the week share your values
so that everybody's on the same page
number one number two uh surround
yourself by people who share similar
ideas in an environment that is going to
encourage you to to want to um to be to
be able to to focus and to be able to
achieve what you're setting to to to to
achieve um I want to hear what your
thoughts are as well on simply
developing the inner confidence that a
person that we can do this one of the
biggest you know there's the external
challenge of keeping up the Jon Jonas
but there's also the internal challenge
of do I have the self-confidence that I
can actually pull this off you know
because that's oftentimes the inner
struggle is that you know everything
you're saying makes sense let me let me
just let me just say this about one I
think uh yes it's part of what you said
is is is what I meant to say but let me
be more
clear if you
are in a situation that you're
overweight let's say that you have 25 35
pounds more than you should
have and you're going to keep saying you
know it's not so bad it's only 35 pounds
I have friends who are 150 pounds
overweight it's not so bad yeah it would
be nice to lose 25 extra pounds you most
probably not going to lose weight in
order for you to really lose weight it
has to become so bad for you that you
should say something like I can't live
like this anymore this has to stop right
here and right now I'm terrible I'm in
terrible shap I have to do something and
you have to be passionate about this as
long as you're not going to be
passionate you're probably not going to
lose too much weight what I'm saying is
that the same things H the same thing
happens so you sitting at the shabas
table with your your wife and children
with your family and you're saying yeah
it's a big problem the needs to do this
the needs to do this no big change are
going to come out from that but if
you're going to be sitting at the shabas
table you're G to say t you know this is
terrible this is not a Jewish way of
living this is not what we signed up for
when we
said we signed up forz not to be
spending money that we don't have and we
should be proud if we have the guts to
do the right thing that's what the
communication should be and and and if
you don't have the gods to do the right
thing you should say honestly to your
children you know that should be the
language in the house unfortunately we
are not where we supposed to be and
we're dying for this you know we're
getting sick for this and we have to
change that I hope and I pray that we
should be able to change it if we'll be
able we'll be so proud maybe
unfortunately I can't do it right now
because have my own limitations but
maybe you know I I started on the wrong
foot but maybe your children you're
going to be able to do it maybe with
your children or maybe by your you
should be a role model you should be an
example that's how the communication
should be which should not but just be
you hang around people and you talk
about something I just wanted to comment
on what you said are we
going yeah okay so what I'm hearing from
you I'm actually hearing something
really profound I think it's aish here
you know the normal response that you
hear from coaches and consultants and
people who are advising others is set
goals you have to set goals you have to
be a vision of where you want to be but
you're saying it's more than just
setting goals you're saying that that
you that you have to be passionate and
driven enough to understand that
whatever goals you're setting are
there's just no other option it's not
like these are my goals and you know I'm
going to work you know towards them you
know and I'm going to make a plan I'm
but you're saying more than that it have
to be life lifethreatening you have to
recognize that these changes you have to
make are literally you know going to to
affect your life and if you don't you're
not it's not sh that you're just not
gonna have reached your goals you're GNA
lose you're it's gonna have a negative
effect so you're something saying
something much more profound than just
set goals and try to achieve them you're
saying recognize that this this is a
life or death you know
in the in the sense that it's life
altering and and if you don't do this it
can have tremendously negative effects
down the road so it's much more and you
use the word passion so these are not
just goals but these have to be passion
driven goals that and I think that's
what I'm hearing is your Kish here is
when you say use your brain it's really
more than just your brain it's using
your brain and your heart because you
have to incorporate with your brain your
heart and and feel it and and feel that
passion so it's really engaging both
your brain and your heart and not just
set goals but but set set um I would
even say parameters that this is you
know this is if I don't do it this is M
and it has to be that clear that's what
I'm hearing from you I want to make sure
that that's what you're saying that
using your brain means really setting
clear clearly defined choices it's
either life or death and Rec and realize
and look at it that way because that's
what's going to trigger you to really
make it happen is that what is that what
you're
saying absolutely absolutely very well
said and and I'll tell you even more if
if if you're going to tell me you know
I'm ready to suffer I don't want to go
out of my comfort zone I I would rather
suffer and be a victim than do the right
thing maybe that's your approach but why
do you want from your children you know
you are the head of the family if you
don't do it for you do it for your
children if you ready to suffer what do
you want from them that's the they get
they get a of doing what the Jones are
doing I'm talking the Jones the the the
rabbi Jones
theones that's what you give them that
when you don't have money you still
spent and then you put it on yish you
know it's terrible so you have to become
so aggravated so when somebody you know
try try to think you know there's always
a few very exceptional ID eaten but most
people if I come to you and I put in my
hand in my your pocket and I take out
$1,000 you're going to become very
aggravated it's you're gonna become very
angry it's gonna you tremendously and
then you I'm gonna be able to see on you
a certain type of emotion I'm going to
be able to see you why you do such a
thing to me okay if you have a you say
okay that's why wanted okay fine but
you're about why why did you have how
did you have do thing that's the way I
want you to communicate it with your
family what what are we what are we are
we are we just simple stupid people who
go like the L like the the cow to the
because everybody's doing it you know I
agree I agree you agree everybody agrees
everybody should change but that's not
going to be the condition for me to live
if everybody's GNA change I'm gonna join
them if nobody changes I'm going to look
them in the face and say I'm not signing
up for this
I want to live I choose life right it's
interesting you know they say one of one
of the approaches that they take when
when when people are dieting is don't
look at as a diet look at as a lifestyle
change what you're introducing is don't
look at it as financial management look
at it as a lifestyle change this is not
just about how to manage your money this
is about how to manage your life and
money is just a tool but this is really
it's not financial management it's it's
lifestyle management
so you're introducing something it's
much more profound than just keeping in
your bank 100% 100% And I want to and I
want to you know I want to leave The
Listener with this because if there's
nothing you feel you can do there's one
thing you can
do and that is speak about it you know I
I learned in in N this morning about you
know
was a humble person very humble person
he had a big Anova and tells him maybe
in your eyes you're humble but you are
Ro and I'm telling to the parent I'm
telling to every father you might think
of your just a humble who am I to make a
change who am I to do something
different than most people but you
should know that when you're sitting
with your
family you are the Russ for them you are
there they look up up at you they look
at what does tati say what does TTI
think about it and they should be able
to tell their children you have no idea
how angry TTI was he was holding back
his anger because because to see people
spending money that they don't have
again the didn't give them the money
they don't have
it that they don't need it and and also
understood that they don't need it but
he still people still did it because
everybody else is doing it you want your
children to be able to tell to their
children that's the emotion that saw by
you unbelievable fantastic and by the
says so if you look at yourself like
like like low that that's what you're
gonna be beautiful okay we'll leave it
for now and we covered all three pillars
and next next week we'll start talking
about question then comment that's
coming in and we'll try to cover that
okay so very good get yell the wisdom
for your
[Music]
will get down the wisdom for your wealth