1
00:00:00,000 --> 00:00:04,360
Lucky Land Casino asking people what's the weirdest place you've gotten lucky.

2
00:00:04,360 --> 00:00:06,860
Lucky? In line at the deli, I guess?

3
00:00:06,860 --> 00:00:09,900
Ah, in my dentist's office. More than once, actually.

4
00:00:09,900 --> 00:00:11,180
Do I have to say?

5
00:00:11,180 --> 00:00:11,900
Yes, you do.

6
00:00:11,900 --> 00:00:14,500
In the car before my kids' PTA meeting.

7
00:00:14,500 --> 00:00:15,000
Really?

8
00:00:15,000 --> 00:00:15,700
Yes!

9
00:00:15,700 --> 00:00:18,100
Excuse me, what's the weirdest place you've gotten lucky?

10
00:00:18,100 --> 00:00:19,900
I never win Intel.

11
00:00:19,900 --> 00:00:24,060
Well, there you have it. You can get lucky anywhere playing at luckylandslots.com.

12
00:00:24,060 --> 00:00:26,620
Play for free right now. Are you feeling lucky?

13
00:00:26,620 --> 00:00:28,100
No purchase necessary. VoIP prohibited by law.

14
00:00:28,100 --> 00:00:30,100
18 plus terms and conditions apply. See website for details.

15
00:00:58,100 --> 00:00:59,400
¡Comenzamos!

16
00:01:28,100 --> 00:01:34,000
I've got a lot of debt.

17
00:01:34,000 --> 00:01:38,060
And you're in debt if you pay one card and get one card off to pay the other.

18
00:01:38,060 --> 00:01:40,100
You're living in a horrible stress.

19
00:01:40,100 --> 00:01:45,960
The stress that people are living through that are in debt is enormous, enormous, enormous.

20
00:01:45,960 --> 00:01:48,680
Today we are going to talk about why we are in debt.

21
00:01:48,680 --> 00:01:53,000
Why so many people are living, spending more than what they earn.

22
00:01:53,000 --> 00:01:58,600
because there are so many people who end up paying very high interest rates with credit cards.

23
00:01:58,600 --> 00:02:04,800
And we will also learn a little bit about how to distinguish a good credit card from a bad credit card

24
00:02:04,800 --> 00:02:11,100
and how to understand them and use them correctly to be a tool in our lives and not a headache.

25
00:02:11,100 --> 00:02:18,100
Today's program will be incredibly educational and fun because we are going to give solutions

26
00:02:18,100 --> 00:02:24,000
on how to get out of debt, how to prioritize what debts we pay, how to get out of that reality.

27
00:02:24,000 --> 00:02:29,600
What we want is that we stop suffering for money and that money becomes an ally in our lives.

28
00:02:29,600 --> 00:02:36,000
Today we have as guests Ludivina Cordoba Delgado, who is a degree in international business at the University of Nahuac.

29
00:02:36,000 --> 00:02:38,500
She traveled from Cancun to be here with us today.

30
00:02:38,500 --> 00:02:43,800
She has a Master's in Business Administration at the University of Francisco de Victoria in Madrid, Spain.

31
00:02:43,800 --> 00:02:52,800
She also gives lectures and courses. She is an advisor. She has given an incredible TEDx, which has been very popular on YouTube.

32
00:02:52,800 --> 00:02:57,300
And she also accompanies us in the conversation with Marina Armendariz, who is a psychologist,

33
00:02:57,300 --> 00:03:03,800
a neuropsychologist, COO of Capital MX, who is focused on helping women to unlock their freedom

34
00:03:03,800 --> 00:03:09,300
through financial education. And we will talk from a psychological point of view about what causes the damage

35
00:03:09,300 --> 00:03:13,800
that people are suffering, the stress that people are suffering from living in debt.

36
00:03:13,800 --> 00:03:19,800
So it is convenient for us, for many reasons, it is convenient for us to understand this game of money and debts

37
00:03:19,800 --> 00:03:25,800
to play in our favor and not in our favor. And if that were not enough, it will connect from Costa Rica.

38
00:03:25,800 --> 00:03:31,800
A dear friend Steven Zamora, who has been with us on the podcast, he is a financial trainer, entrepreneur, investor

39
00:03:31,800 --> 00:03:38,800
and he is also focused on teaching people how to get out of debt without the need to earn more money.

40
00:03:38,800 --> 00:03:44,800
How to prioritize, how to get rid of debts, what debt I get rid of, which one I don't, etc.

41
00:03:44,800 --> 00:03:50,800
So, well, with this trio of experts, we are going to have a very, very interesting program.

42
00:03:50,800 --> 00:03:56,300
The confessional is open on my Instagram account, Marc Antonio Regil, and on marcantoniorregil.com.

43
00:03:56,300 --> 00:04:00,800
Diagonalfórmula, today's question is, trust me, do you spend more than you earn?

44
00:04:00,800 --> 00:04:04,800
The truth, tell the truth, nothing happens, tell the truth, that's why it's called the confessional.

45
00:04:04,800 --> 00:04:11,800
Do you spend more than you earn? Yes or no? And today we are going to present solutions.

46
00:04:11,800 --> 00:04:17,800
We will also talk about debts, sometimes in the family, I don't know if it happened to you, but I lived it.

47
00:04:17,800 --> 00:04:22,800
You end up in debt with the debt of your brother, with the debt of your cousin, with the debt of the family members who tell you,

48
00:04:22,800 --> 00:04:27,800
hey, lend me money because I'm in debt. And you say, well, I'm in debt too, no, but lend me.

49
00:04:27,800 --> 00:04:32,800
And if I don't lend you, I'm a bad son, a bad brother, a bad cousin, a bad relative.

50
00:04:32,800 --> 00:04:37,800
It gets complicated, the issue of money gets complicated because we were not given financial education.

51
00:04:37,800 --> 00:04:41,800
And that is just what we will try to do today in the most fun and accessible way.

52
00:04:41,800 --> 00:04:47,800
Ok? So stay with us here on Radio Fórmula and on Telefórmula because we are going to learn a lot.

53
00:04:47,800 --> 00:04:52,800
I repeat, go to the confessional to vote, marcantoniorregil.com, diagonalfórmula.

54
00:04:52,800 --> 00:04:57,800
Do you earn more than you earn? Yes or no? Or on my Instagram account, marcantoniorregil.com, you can find it in the stories.

55
00:04:57,800 --> 00:05:00,800
It's been in question since yesterday and we are going to tell you how the voting is going.

56
00:05:00,800 --> 00:05:04,800
After a little break, we'll be back to start with this content.

57
00:05:04,800 --> 00:05:05,800
Stay with us.

58
00:05:06,800 --> 00:05:09,800
Connect and build through our conversation.

59
00:05:09,800 --> 00:05:11,800
Through our conversation.

60
00:05:11,800 --> 00:05:12,800
Through our conversation.

61
00:05:12,800 --> 00:05:16,800
We return with Marcantoniorregil on Fórmula.

62
00:05:17,800 --> 00:05:21,800
Did you know that the podcast market in Latin America is the number one worldwide in growth?

63
00:05:21,800 --> 00:05:22,800
That's right.

64
00:05:22,800 --> 00:05:28,800
Every day more and more people listen to podcasts from the comfort of their phone, car or computer.

65
00:05:28,800 --> 00:05:33,800
Take advantage and report with us, we are rss.com and we have a package just for you.

66
00:05:33,800 --> 00:05:37,800
Write an email to ventas.rss.com

67
00:05:38,800 --> 00:05:41,800
ventas.rss.com

68
00:05:41,800 --> 00:05:44,800
And you will know that it feels like being in everyone's mouth.

69
00:05:46,800 --> 00:05:51,800
Today, dear money, financial well-being is part of a full life.

70
00:05:52,800 --> 00:05:55,800
Have a conscious economy, align your values ​​and goals.

71
00:05:55,800 --> 00:05:58,800
Discover the effective way to maintain balance.

72
00:05:58,800 --> 00:06:01,800
Open your way to financial freedom.

73
00:06:01,800 --> 00:06:03,800
Reach your maximum potential.

74
00:06:04,800 --> 00:06:07,800
Marcantoniorregil on Fórmula.

75
00:06:09,800 --> 00:06:11,800
Dear money, conscious economy.

76
00:06:11,800 --> 00:06:13,800
What does conscious economy mean?

77
00:06:13,800 --> 00:06:15,800
Well, that, to be aware of what I do.

78
00:06:15,800 --> 00:06:19,800
Because there are many people who are not aware of what they do and do not know.

79
00:06:19,800 --> 00:06:21,800
And how they say, oh, I'm not good at numbers.

80
00:06:21,800 --> 00:06:23,800
I do not want to see the state of mind.

81
00:06:23,800 --> 00:06:25,800
I do not want to know.

82
00:06:25,800 --> 00:06:27,800
And that is very dangerous.

83
00:06:27,800 --> 00:06:28,800
It costs very expensive.

84
00:06:28,800 --> 00:06:30,800
We are seeing today the issue of debts.

85
00:06:30,800 --> 00:06:35,800
And on my Instagram, Marcantoniorregil on the stories, the confessional asks,

86
00:06:35,800 --> 00:06:37,800
do you spend more than you earn?

87
00:06:37,800 --> 00:06:41,800
Well, 49% confessed and said yes.

88
00:06:41,800 --> 00:06:45,800
49% of the surveyors say they spend more than they earn.

89
00:06:45,800 --> 00:06:47,800
43% say no.

90
00:06:47,800 --> 00:06:50,800
And 8% say I do not know.

91
00:06:50,800 --> 00:06:53,800
And when you put I do not know, the most likely thing is that you do.

92
00:06:53,800 --> 00:06:56,800
So the issue is that you have to be aware.

93
00:06:56,800 --> 00:07:00,800
The National Institute of Statistics and Geography of INEGI in Mexico

94
00:07:00,800 --> 00:07:05,800
says that every six out of every ten Mexicans have debts.

95
00:07:05,800 --> 00:07:10,800
Either with a bank, a type of financial institution, stores, loans.

96
00:07:10,800 --> 00:07:14,800
And the issue is that they live in debt.

97
00:07:14,800 --> 00:07:18,800
That is why today I want us to stop suffering from the issue of money.

98
00:07:18,800 --> 00:07:21,800
And we have invited the divine Cordoba Delgado.

99
00:07:21,800 --> 00:07:24,800
Welcome. You traveled from Cancun to be with us, friend.

100
00:07:24,800 --> 00:07:28,800
That is why I am interested in people being able to achieve financial well-being.

101
00:07:28,800 --> 00:07:31,800
She is a Business School in the International University of Anahuac.

102
00:07:31,800 --> 00:07:37,800
She has a Master's in Business Management at the University of Francisco de Victoria in Madrid, Spain.

103
00:07:37,800 --> 00:07:41,800
And she was a professor of the Department of Personal Finance for Tec de Monterrey,

104
00:07:41,800 --> 00:07:44,800
a speaker of the Conducer for three consecutive years and has her TEDx.

105
00:07:44,800 --> 00:07:47,800
The money is power, which you can find on YouTube.

106
00:07:47,800 --> 00:07:49,800
She has given personalized mentoring.

107
00:07:49,800 --> 00:07:51,800
So we have a super coach.

108
00:07:51,800 --> 00:07:53,800
Super coach.

109
00:07:53,800 --> 00:07:58,800
So why do people, you also went through it, I have lived it.

110
00:07:58,800 --> 00:08:00,800
Tell us if you want.

111
00:08:00,800 --> 00:08:02,800
Why do we owe so much?

112
00:08:02,800 --> 00:08:05,800
Why are there so many people who have lived or live in debt?

113
00:08:05,800 --> 00:08:07,800
Three main reasons.

114
00:08:07,800 --> 00:08:09,800
The first one you just said in the survey.

115
00:08:09,800 --> 00:08:11,800
We spend more than we earn.

116
00:08:11,800 --> 00:08:16,800
And it seems obvious, but it has to do with a concept that financiers use a lot.

117
00:08:16,800 --> 00:08:18,800
Which is the cash flow.

118
00:08:18,800 --> 00:08:21,800
The cash flow is the money that is in your account today.

119
00:08:21,800 --> 00:08:24,800
And the one that will be tomorrow and the one that will be the day after.

120
00:08:24,800 --> 00:08:27,800
What happens when you want to buy something or you have to pay something

121
00:08:27,800 --> 00:08:29,800
and there is not enough cash flow?

122
00:08:29,800 --> 00:08:31,800
You pass the card.

123
00:08:31,800 --> 00:08:36,800
On one side it comes out to cover that deficit that you have between what you spend and what you earn.

124
00:08:36,800 --> 00:08:38,800
On the other side it comes out of debts.

125
00:08:38,800 --> 00:08:40,800
First reason.

126
00:08:40,800 --> 00:08:41,800
Second reason.

127
00:08:41,800 --> 00:08:44,800
Financial lack of education and taboo.

128
00:08:44,800 --> 00:08:46,800
Taboo towards debts.

129
00:08:46,800 --> 00:08:48,800
Debt is bad.

130
00:08:48,800 --> 00:08:51,800
I will not achieve anything so I can get into debt.

131
00:08:51,800 --> 00:08:56,800
And financial lack of education in how to use debt products.

132
00:08:56,800 --> 00:09:00,800
Because sometimes we want the only type of debt to be credit cards.

133
00:09:00,800 --> 00:09:05,800
And there is a world of types of debt that serve different things.

134
00:09:05,800 --> 00:09:07,800
So they don't tell us what they are.

135
00:09:07,800 --> 00:09:09,800
They don't tell us how they work.

136
00:09:09,800 --> 00:09:14,800
And then, as in my case, at 18 years old they tell me, hey, an educational credit.

137
00:09:14,800 --> 00:09:17,800
And I said, I don't know what that is.

138
00:09:17,800 --> 00:09:19,800
I'm going to sign.

139
00:09:19,800 --> 00:09:26,800
And when the time came to pay, I said, I think I should have informed myself more about what this debt is and how it works.

140
00:09:26,800 --> 00:09:30,800
And the third, which unfortunately happens a lot in Mexico, the need.

141
00:09:30,800 --> 00:09:32,800
A health issue.

142
00:09:32,800 --> 00:09:35,800
An emergency issue that needs to be solved.

143
00:09:35,800 --> 00:09:37,800
And what is the problem?

144
00:09:37,800 --> 00:09:38,800
We don't have savings.

145
00:09:38,800 --> 00:09:44,800
What happens when we don't have enough savings or cash flow to cover this need or this emergency?

146
00:09:44,800 --> 00:09:46,800
Debt.

147
00:09:46,800 --> 00:09:52,800
Credit cards, personal loans, nominal loans, or the one that leaves and lets me go.

148
00:09:52,800 --> 00:09:55,800
All this sounds like they didn't educate us financially.

149
00:09:55,800 --> 00:09:57,800
The root of the problem, without a doubt.

150
00:09:57,800 --> 00:09:58,800
Financial lack of education.

151
00:09:58,800 --> 00:09:59,800
Financial lack of education.

152
00:09:59,800 --> 00:10:07,800
Because if they had taught us to calculate the cash flow, how to know if I'm spending more than what I earn, how to use credit cards, please.

153
00:10:07,800 --> 00:10:08,800
Another story.

154
00:10:08,800 --> 00:10:10,800
And fear of math too.

155
00:10:10,800 --> 00:10:12,800
That's why I said the taboo.

156
00:10:12,800 --> 00:10:14,800
Because there's a lot of fear of math.

157
00:10:14,800 --> 00:10:15,800
It's very difficult.

158
00:10:15,800 --> 00:10:16,800
How am I going to use that?

159
00:10:16,800 --> 00:10:17,800
I think that's where it would go.

160
00:10:17,800 --> 00:10:25,800
And there's also one of these super limiting thoughts that women aren't good with money and that men are better.

161
00:10:25,800 --> 00:10:27,800
And nothing to do with that.

162
00:10:27,800 --> 00:10:28,800
No, no.

163
00:10:28,800 --> 00:10:30,800
In statistics, I see it with my clients.

164
00:10:30,800 --> 00:10:33,800
Most of my wallet is women who want to improve their finances.

165
00:10:33,800 --> 00:10:39,800
And in statistics, we manage better, we pay our debts better.

166
00:10:39,800 --> 00:10:49,800
Even there's a program, Infonavit, of women, credit, Infonavit, that awards that we are better payers and gives us more time to pay.

167
00:10:49,800 --> 00:10:51,800
I have the impression that women are better.

168
00:10:51,800 --> 00:10:52,800
They are better payers.

169
00:10:52,800 --> 00:10:53,800
The SAT said that.

170
00:10:53,800 --> 00:10:56,800
Women are better payers than men.

171
00:10:56,800 --> 00:10:58,800
Oh yeah? Women pay better their taxes?

172
00:10:58,800 --> 00:10:59,800
They pay better, yes.

173
00:10:59,800 --> 00:11:01,800
They are more responsible with their taxes than men.

174
00:11:01,800 --> 00:11:03,800
With their money in general.

175
00:11:03,800 --> 00:11:06,800
So it's a bit contradictory that the taboo is A.

176
00:11:06,800 --> 00:11:10,800
I feel that I'm not good at math, but I am responsible with my money.

177
00:11:10,800 --> 00:11:12,800
Now, having a debt is not bad.

178
00:11:12,800 --> 00:11:14,800
The issue is what debt?

179
00:11:14,800 --> 00:11:18,800
Because the multimillionaires of the planet are in debt.

180
00:11:18,800 --> 00:11:21,800
What happens is that they have a debt that helps them become richer.

181
00:11:21,800 --> 00:11:26,800
And most of the people who don't have that financial education have a debt that impoverishes them.

182
00:11:26,800 --> 00:11:28,800
I'm in the right place.

183
00:11:28,800 --> 00:11:29,800
You're in the right place.

184
00:11:29,800 --> 00:11:33,800
And here I remember one of the first books I read that I'm sure will be found by everyone.

185
00:11:33,800 --> 00:11:34,800
Robert Kiyosaki.

186
00:11:34,800 --> 00:11:35,800
Of course, rich father, poor father.

187
00:11:35,800 --> 00:11:40,800
And there they tell us, they tell us, they tell us, it's better to use other people's money than yours.

188
00:11:40,800 --> 00:11:42,800
It's better to risk other people's money.

189
00:11:42,800 --> 00:11:43,800
It's better.

190
00:11:43,800 --> 00:11:44,800
And we see it on credit cards.

191
00:11:44,800 --> 00:11:45,800
You told us about it a while ago.

192
00:11:45,800 --> 00:11:47,800
What happens when they make you a fraud?

193
00:11:47,800 --> 00:11:50,800
On a credit card they give you back your money very quickly.

194
00:11:50,800 --> 00:11:55,800
On the debit card, on the other, processes of many days.

195
00:11:55,800 --> 00:12:00,800
But Robert Kiyosaki, his philosophy, because I give the courses based on his philosophy,

196
00:12:00,800 --> 00:12:05,800
what he tells you is that he uses credit to buy an asset that gives him money.

197
00:12:05,800 --> 00:12:15,800
And people of the middle class and poor people get poorer because they use credit to buy a television screen, a furniture, a car.

198
00:12:15,800 --> 00:12:19,800
Things that don't give them money, but things that get them money.

199
00:12:19,800 --> 00:12:22,800
But he gets into debt by debt, even by the hands.

200
00:12:22,800 --> 00:12:24,800
But it's not a debt to go on vacation.

201
00:12:24,800 --> 00:12:29,800
You said it's a debt to acquire productive assets.

202
00:12:29,800 --> 00:12:30,800
Exactly.

203
00:12:30,800 --> 00:12:31,800
That's a good debt.

204
00:12:31,800 --> 00:12:32,800
Things that give you money.

205
00:12:32,800 --> 00:12:33,800
Things that give you money.

206
00:12:33,800 --> 00:12:40,800
Because suddenly we want to go and ask for money for a car that turns two wheels and it's depressed.

207
00:12:40,800 --> 00:12:44,800
And it's worth less, and you use it, and it's worth less, and it's not productive at all.

208
00:12:44,800 --> 00:12:46,800
And maybe you work in home office.

209
00:12:46,800 --> 00:12:47,800
Yes.

210
00:12:47,800 --> 00:12:48,800
And you don't use it.

211
00:12:48,800 --> 00:12:50,800
And you don't use it if you're paying interest.

212
00:12:50,800 --> 00:12:54,800
But you don't understand buying a car knowing that a car is not an investment, it's a tool.

213
00:12:54,800 --> 00:12:55,800
Of course.

214
00:12:55,800 --> 00:12:58,800
And it's good that you know that this is not a business.

215
00:12:58,800 --> 00:13:00,800
Or being very strategic with your debt.

216
00:13:00,800 --> 00:13:04,800
Let's see, I'm going to get rich, but to what extent is it good?

217
00:13:04,800 --> 00:13:06,800
To what extent do I want to pay that interest?

218
00:13:06,800 --> 00:13:10,800
And that's the difference between a good debt and a bad debt.

219
00:13:10,800 --> 00:13:11,800
100%.

220
00:13:11,800 --> 00:13:17,800
The bad one makes you poorer, the good one makes you rich, or gives you more money, or helps you have other income.

221
00:13:17,800 --> 00:13:18,800
That's right.

222
00:13:18,800 --> 00:13:21,800
To achieve that you have to have financial education, you have to understand the numbers,

223
00:13:21,800 --> 00:13:25,800
you have to know how to do a business, or know where to invest.

224
00:13:25,800 --> 00:13:30,800
I always tell my clients, imagine that money is a monopoly,

225
00:13:30,800 --> 00:13:33,800
and that they sit you down and you don't know the rules.

226
00:13:33,800 --> 00:13:35,800
That's how we're reaching most Mexicans to adult life.

227
00:13:35,800 --> 00:13:36,800
Of course.

228
00:13:36,800 --> 00:13:38,800
It happened to me.

229
00:13:38,800 --> 00:13:42,800
So it's very different when you know the rules, and I think I'm a witness to that.

230
00:13:42,800 --> 00:13:45,800
There's a complete transformation in your finances

231
00:13:45,800 --> 00:13:48,800
when you break that mentality that debt is bad,

232
00:13:48,800 --> 00:13:52,800
and you also have the tools, the rules of the game, to play with debt.

233
00:13:52,800 --> 00:13:54,800
And how do I learn the rules of the game?

234
00:13:54,800 --> 00:13:56,800
How do you learn the rules of the game?

235
00:13:56,800 --> 00:13:59,800
With financial education, with courses, with mentors.

236
00:13:59,800 --> 00:14:04,800
Unfortunately, there's no career today to prepare mentors in personal finances.

237
00:14:04,800 --> 00:14:10,800
As a teacher, I know that one of the university's objectives is to prepare the financial students

238
00:14:10,800 --> 00:14:13,800
so they can do this, but we're short of time.

239
00:14:13,800 --> 00:14:17,800
We need to get closer to the people who know, and even more, to the people who have lived it.

240
00:14:17,800 --> 00:14:18,800
Of course.

241
00:14:18,800 --> 00:14:21,800
Today, for example, this program is financial education.

242
00:14:21,800 --> 00:14:22,800
Exactly.

243
00:14:22,800 --> 00:14:23,800
We're talking about this.

244
00:14:23,800 --> 00:14:28,800
One of the best ways to learn is to get closer to the people who already have a healthy financial game,

245
00:14:28,800 --> 00:14:29,800
and ask questions.

246
00:14:29,800 --> 00:14:30,800
And ask questions.

247
00:14:30,800 --> 00:14:34,800
Ask questions, and play it, but little by little, as a kid.

248
00:14:34,800 --> 00:14:38,800
And one of the first steps is to get out of bad debt,

249
00:14:38,800 --> 00:14:40,800
which are these credit cards that I...

250
00:14:40,800 --> 00:14:47,800
I mean, not canceling cards, but not paying 30, 40, 60, 70% annually on a credit card.

251
00:14:47,800 --> 00:14:53,800
On a credit card, specifically, and I'm talking specifically about them because there are many types of credit,

252
00:14:53,800 --> 00:15:00,800
you need to know cut dates, payment dates, what I have to pay, not the famous payment to not generate interest.

253
00:15:00,800 --> 00:15:01,800
Yes.

254
00:15:01,800 --> 00:15:03,800
And basically, with that, you're on the other side.

255
00:15:03,800 --> 00:15:09,800
I think one indispensable thing is to go for financial education as young as you can.

256
00:15:09,800 --> 00:15:10,800
Of course.

257
00:15:10,800 --> 00:15:14,800
You see, we were promised that the presidential candidates would come here,

258
00:15:14,800 --> 00:15:18,800
Sochil and, obviously, Claudia, and I...

259
00:15:18,800 --> 00:15:21,800
Well, when they come, I want to ask them that.

260
00:15:21,800 --> 00:15:27,800
I want to ask them, is there a plan for financial education in the education system?

261
00:15:27,800 --> 00:15:32,800
Because that, the absence of financial education in the school system, makes us suffer,

262
00:15:32,800 --> 00:15:35,800
and makes the richest the richest and the poorest the poorest.

263
00:15:35,800 --> 00:15:38,800
So we have to distribute the money, but we need education.

264
00:15:38,800 --> 00:15:41,800
I mean, hopefully they can come, and hopefully we can talk about that.

265
00:15:41,800 --> 00:15:43,800
Let's take a break.

266
00:15:43,800 --> 00:15:46,800
Stay with us, our super expert, the divine Cordoba Delgado.

267
00:15:46,800 --> 00:15:49,800
We're going to talk about credit cards, how to use them, how to distinguish them,

268
00:15:49,800 --> 00:15:51,800
so that they can be our allies.

269
00:15:51,800 --> 00:15:57,800
And after the break, we'll talk about how it affects people psychologically in their lives to have debts.

270
00:15:57,800 --> 00:16:00,800
What are the consequences of living in debt?

271
00:16:00,800 --> 00:16:02,800
We'll be back after a short break.

272
00:16:02,800 --> 00:16:03,800
Cheer up.

273
00:16:03,800 --> 00:16:07,800
Follow the conversation with Marco Antonio Regil in Formula.

274
00:16:07,800 --> 00:16:10,800
Living in debt is not a good idea.

275
00:16:10,800 --> 00:16:12,800
And how does it affect psychologically?

276
00:16:12,800 --> 00:16:14,800
And obviously we're going to talk about solutions, but...

277
00:16:14,800 --> 00:16:18,800
So breathe deeply because right now we're seeing why...

278
00:16:18,800 --> 00:16:22,800
It's not to scare anyone, but we do have to generate a sense of urgency,

279
00:16:22,800 --> 00:16:25,800
to get out of debts and change our lifestyle.

280
00:16:25,800 --> 00:16:31,800
We're seeing statistics generated by a report called Financier 23,

281
00:16:31,800 --> 00:16:34,800
carried out by very respected companies.

282
00:16:34,800 --> 00:16:41,800
It says that 85% of the respondents have some kind of stress related to their current financial situation.

283
00:16:41,800 --> 00:16:50,800
85% of the respondents, which were thousands, have a stress related to their current financial situation.

284
00:16:50,800 --> 00:16:54,800
85% of the respondents have stress due to debts.

285
00:16:54,800 --> 00:16:58,800
Well, that's why the conversation is being joined by Marina Armendares,

286
00:16:58,800 --> 00:17:04,800
a neuropsychologist, a coach and CEO of Capitel.com.mx,

287
00:17:04,800 --> 00:17:07,800
and she's with us, Ludivina Cordoba Delgado,

288
00:17:07,800 --> 00:17:08,800
a business licensee.

289
00:17:08,800 --> 00:17:10,800
So, welcome.

290
00:17:10,800 --> 00:17:13,800
Marina, a lot of people are stressed due to debts.

291
00:17:13,800 --> 00:17:15,800
A lot of people are stressed. How much is it?

292
00:17:15,800 --> 00:17:17,800
85% of respondents say they have a stress related to their current financial situation.

293
00:17:17,800 --> 00:17:18,800
How come?

294
00:17:18,800 --> 00:17:24,800
Because it also says that 22.75% of respondents

295
00:17:24,800 --> 00:17:29,800
have a stress related to their current financial situation.

296
00:17:29,800 --> 00:17:31,800
Imagine that.

297
00:17:31,800 --> 00:17:35,800
55% of respondents who earn 10 pesos a month are going to pay debts.

298
00:17:35,800 --> 00:17:37,800
How come they're not stressed?

299
00:17:37,800 --> 00:17:38,800
That's what I was saying, Ludivina.

300
00:17:38,800 --> 00:17:40,800
You're paying for what you did yesterday,

301
00:17:40,800 --> 00:17:42,800
and tomorrow you'll be paying for what you did today,

302
00:17:42,800 --> 00:17:44,800
and that way you can spend the rest of your life.

303
00:17:44,800 --> 00:17:45,800
That's a very stressful situation.

304
00:17:45,800 --> 00:17:47,800
The famous minimum payment of the credit card.

305
00:17:47,800 --> 00:17:52,800
Well, I owe 10,000 pesos, but here it says that with this little amount, I can keep going.

306
00:17:52,800 --> 00:17:53,800
Exactly.

307
00:17:53,800 --> 00:17:55,800
What is your experience? What is going on?

308
00:17:55,800 --> 00:17:59,800
How does it affect a human being to have debts, to keep charging with debts?

309
00:17:59,800 --> 00:18:05,800
I believe and I see it in the clinic, and I see it with me, and I see it with my friends.

310
00:18:05,800 --> 00:18:10,800
What happens is that this stress, which is chronic,

311
00:18:10,800 --> 00:18:15,800
is one of the precursors of the most common mental health problems.

312
00:18:15,800 --> 00:18:17,800
Depression and anxiety.

313
00:18:17,800 --> 00:18:21,800
Also, if I have, and well, if someone who doesn't live with anxiety today, congratulations,

314
00:18:21,800 --> 00:18:27,800
because it's a phenomenon, but when we think about the roots of our anxiety,

315
00:18:27,800 --> 00:18:33,800
often, let's say, the genesis is in financial issues, particularly in debts.

316
00:18:33,800 --> 00:18:39,800
And then, if I also have any other predisposition to another condition of mental health,

317
00:18:39,800 --> 00:18:42,800
stress, especially chronic stress, is a trigger.

318
00:18:42,800 --> 00:18:46,800
So, how do we take care of our finances?

319
00:18:46,800 --> 00:18:49,800
It is largely also how we take care of our physical and mental health.

320
00:18:49,800 --> 00:18:51,800
Yes, it is connected.

321
00:18:51,800 --> 00:18:53,800
Besides, it is precisely the non-virtuous circle.

322
00:18:53,800 --> 00:18:59,800
I have debts, I stress, I live with anxiety, and obviously a person depressed with stress and anxiety

323
00:18:59,800 --> 00:19:01,800
will produce less money.

324
00:19:01,800 --> 00:19:04,800
It will produce less, the cognitive functions are lowered,

325
00:19:04,800 --> 00:19:10,800
so I will do less good or less good to manage, to solve, I get much less proactive.

326
00:19:10,800 --> 00:19:11,800
You paralyze yourself.

327
00:19:11,800 --> 00:19:12,800
I paralyze myself.

328
00:19:12,800 --> 00:19:18,800
And there are also issues that have to do with what I can do or what I can do to feel better

329
00:19:18,800 --> 00:19:19,800
when I feel bad.

330
00:19:19,800 --> 00:19:22,800
When I am anxious, I can go to Amazon and make a couple of purchases.

331
00:19:22,800 --> 00:19:24,800
Yes, yesterday we talked about that, about the counter.

332
00:19:24,800 --> 00:19:29,800
I can go to plan and then take a few Cargits on the card.

333
00:19:29,800 --> 00:19:30,800
It fills the void.

334
00:19:30,800 --> 00:19:31,800
It is the only thing that makes me feel good.

335
00:19:31,800 --> 00:19:33,800
So, clearly, it is a monster that is commercialized.

336
00:19:33,800 --> 00:19:34,800
It gets worse.

337
00:19:34,800 --> 00:19:35,800
It gets worse.

338
00:19:35,800 --> 00:19:39,800
It is like when you are heartbroken and you take a bottle of alcohol,

339
00:19:39,800 --> 00:19:41,800
well, you are still as heartbroken as your ex.

340
00:19:41,800 --> 00:19:42,800
And now you are drunk, right?

341
00:19:42,800 --> 00:19:43,800
Totally.

342
00:19:43,800 --> 00:19:44,800
And you call your ex at midnight.

343
00:19:44,800 --> 00:19:45,800
Totally.

344
00:19:45,800 --> 00:19:48,800
So, this is not the right path.

345
00:19:48,800 --> 00:19:49,800
It is not the right path.

346
00:19:49,800 --> 00:19:54,800
And what happens many times, and this is, we have normalized the debt, financial stress

347
00:19:54,800 --> 00:19:58,800
and anxiety, and also some depressive frames, or at least depressive symptoms,

348
00:19:58,800 --> 00:20:01,800
that what happens is that we find it normal to live like this.

349
00:20:01,800 --> 00:20:07,800
And then, what at some point seemed unsustainable today is our daily reality.

350
00:20:07,800 --> 00:20:09,800
The other day there was a post on Facebook that said,

351
00:20:09,800 --> 00:20:15,800
you can go back to your 18 years and say to your 18-year-old self, three words, I think it was,

352
00:20:15,800 --> 00:20:16,800
what would you say to him?

353
00:20:16,800 --> 00:20:22,800
And he left me to Tony, who said, pay your debts, pay your taxes, save.

354
00:20:22,800 --> 00:20:28,800
The advice that someone 30, 40, 50, 60 years old wants to say to their 18-year-old self

355
00:20:28,800 --> 00:20:30,800
are financial health advice.

356
00:20:30,800 --> 00:20:31,800
Of course.

357
00:20:31,800 --> 00:20:35,800
And it is that when you do not have financial education, you start to think,

358
00:20:35,800 --> 00:20:39,800
well, I am in debt, I pay the minimum, there is someone who thinks of it,

359
00:20:39,800 --> 00:20:44,800
or even has a counter there, a snitch who tells them, no, we do not declare everything,

360
00:20:44,800 --> 00:20:49,800
and you start to get involved, you start to carry a horrible stress.

361
00:20:49,800 --> 00:20:56,800
Now, you say that self-esteem has to do with the level of debt.

362
00:20:56,800 --> 00:20:58,800
What does self-esteem have to do with it? Tell us.

363
00:20:58,800 --> 00:21:01,800
Again, it is a virtuous or vicious cycle.

364
00:21:01,800 --> 00:21:07,800
We have, socially, you mentioned it, a lot of stigma around debt.

365
00:21:07,800 --> 00:21:08,800
Who takes on debt?

366
00:21:08,800 --> 00:21:12,800
Take on the debt of an irresponsible person, take on the debt of a poorly organized person,

367
00:21:12,800 --> 00:21:15,800
take on the debt of a person who does not control his impulses, a person,

368
00:21:15,800 --> 00:21:19,800
we also have a lot of our self-esteem linked to our generative capacity,

369
00:21:19,800 --> 00:21:21,800
a person who cannot generate enough.

370
00:21:21,800 --> 00:21:25,800
So this is not necessarily true, but it is what we socially learn.

371
00:21:25,800 --> 00:21:29,800
So what happens is that if I have debt, my debt generates me,

372
00:21:29,800 --> 00:21:31,800
the forbidden word, shame.

373
00:21:31,800 --> 00:21:34,800
And shame is a cancer for self-esteem.

374
00:21:34,800 --> 00:21:36,800
Shame and guilt.

375
00:21:36,800 --> 00:21:39,800
Shame and guilt, which are there, best friends, cousins, sisters.

376
00:21:39,800 --> 00:21:44,800
So if my financial situation generates shame on me,

377
00:21:44,800 --> 00:21:48,800
shame does not allow us to be vulnerable, it does not allow us to open up,

378
00:21:48,800 --> 00:21:52,800
it does not allow us to seek help, which we said was super important.

379
00:21:52,800 --> 00:21:56,800
So what happens is that this vicious cycle is done in which I have debt,

380
00:21:56,800 --> 00:22:00,800
that debt affects my self-perception, affects my self-esteem,

381
00:22:00,800 --> 00:22:02,800
and then two things happen.

382
00:22:02,800 --> 00:22:06,800
One, I hide, I do not ask for help, I do not have much hope of getting out,

383
00:22:06,800 --> 00:22:11,800
and on the other hand, I also feel that I do not deserve another type of life.

384
00:22:11,800 --> 00:22:14,800
It sounds a bit dramatic and maybe I am not so aware of it,

385
00:22:14,800 --> 00:22:17,800
but those ideas are linked.

386
00:22:17,800 --> 00:22:22,800
I am a person of less value because I have debt and I do not deserve a better life,

387
00:22:22,800 --> 00:22:24,800
a better life free of debts.

388
00:22:24,800 --> 00:22:31,800
So it is done there as a mental and emotional puddle in which we can get very trapped.

389
00:22:31,800 --> 00:22:35,800
But it is unfair because I said it at the beginning of the program.

390
00:22:35,800 --> 00:22:39,800
We entered to play something, and you were also saying it, Ludivina,

391
00:22:39,800 --> 00:22:43,800
we entered the game of money and they did not tell us how to play it.

392
00:22:43,800 --> 00:22:46,800
They threw us on the football field but they did not explain the rules.

393
00:22:46,800 --> 00:22:48,800
So it is not your fault.

394
00:22:48,800 --> 00:22:49,800
Not at all.

395
00:22:49,800 --> 00:22:53,800
Nobody explained it to you unless you have had a rich dad, as Robert Kiyosaki says,

396
00:22:53,800 --> 00:22:57,800
and you were the owner of an entrepreneur, of someone, a mom, a dad,

397
00:22:57,800 --> 00:22:59,800
as in the case of Taylor Swift, we were talking about her,

398
00:22:59,800 --> 00:23:02,800
that both of them, one was a financier and the other a marketer.

399
00:23:02,800 --> 00:23:07,800
Obviously the girl will not burn her money, she will invest it, she will regenerate it,

400
00:23:07,800 --> 00:23:11,800
she will be fine, but most of us, I do not know what percentage,

401
00:23:11,800 --> 00:23:13,800
we did not have financial education.

402
00:23:13,800 --> 00:23:17,800
We did not have education and we did not have the capacity or opportunity to practice.

403
00:23:17,800 --> 00:23:21,800
I can spend 50, I do not have siblings,

404
00:23:21,800 --> 00:23:23,800
so I have seen a million hours of football with my dad,

405
00:23:23,800 --> 00:23:26,800
I do not know, hundreds of hours of football with my dad.

406
00:23:26,800 --> 00:23:29,800
I have seen a lot of football but I have never played a professional game.

407
00:23:29,800 --> 00:23:31,800
So they can not throw me on the field and say,

408
00:23:31,800 --> 00:23:33,800
I taught you 100 hours of football recordings.

409
00:23:33,800 --> 00:23:39,800
Also the kids come out to life, or we came out to life at 18, 20,

410
00:23:39,800 --> 00:23:41,800
the time it was released, and until that moment,

411
00:23:41,800 --> 00:23:43,800
the only thing you have managed is your Sunday.

412
00:23:43,800 --> 00:23:49,800
The only thing you have had to play is if you bought one or two Bacardi's

413
00:23:49,800 --> 00:23:51,800
at your party and that's it.

414
00:23:51,800 --> 00:23:55,800
So we do not give the children and the young people a chance to practice,

415
00:23:55,800 --> 00:23:59,800
to play the money game in smaller leagues,

416
00:23:59,800 --> 00:24:03,800
directly to the professional league.

417
00:24:03,800 --> 00:24:07,800
And that is obviously very harmful, but what happens is that

418
00:24:07,800 --> 00:24:14,800
they do not teach us that our generative capacity is not our self-value,

419
00:24:14,800 --> 00:24:19,800
it is not our value, and we can say in all the houses that we have different values,

420
00:24:19,800 --> 00:24:24,800
but it is very prevalent to think that there is something more valuable

421
00:24:24,800 --> 00:24:28,800
in who has or generates more, even within the same family nucleus,

422
00:24:28,800 --> 00:24:30,800
within the same system.

423
00:24:30,800 --> 00:24:33,800
So there are many things and we can talk 100 hours of this,

424
00:24:33,800 --> 00:24:39,800
but what I do believe is that it does not make much sense to dedicate time,

425
00:24:39,800 --> 00:24:45,800
money and effort to leaving debts from a perspective that is not practical,

426
00:24:45,800 --> 00:24:50,800
if we do not also do an analysis of emotionally and mentally

427
00:24:50,800 --> 00:24:53,800
how we are relating to money, to debt in particular,

428
00:24:53,800 --> 00:24:56,800
because if not, what happens, and you have probably seen it,

429
00:24:56,800 --> 00:25:00,800
or even lived it, is that I got into trouble,

430
00:25:00,800 --> 00:25:06,800
and I started working, I got into a belt, I left debts and I blinked,

431
00:25:06,800 --> 00:25:09,800
and two years later I am in the same situation.

432
00:25:09,800 --> 00:25:12,800
Well, yes, but it is the same thing that happens to you when you do not have emotional education

433
00:25:12,800 --> 00:25:15,800
and you leave a bad relationship and you get into another one.

434
00:25:15,800 --> 00:25:20,800
So you have to learn financial education, but you have to learn emotional education,

435
00:25:20,800 --> 00:25:23,800
you have to go to therapy, we are always saying that.

436
00:25:23,800 --> 00:25:25,800
And you have to go to therapy, you have to go to your therapist and tell him,

437
00:25:25,800 --> 00:25:30,800
hey, besides my partner, my mom, my dad, my job, I want to talk about money.

438
00:25:30,800 --> 00:25:32,800
Money, is that money is never talked about in the house, it is a taboo issue,

439
00:25:32,800 --> 00:25:37,800
and hours in football, but how many hours dedicated, look, this is how money is earned,

440
00:25:37,800 --> 00:25:39,800
here you earn more, here you earn less.

441
00:25:39,800 --> 00:25:43,800
This is how wealth is made, as they never taught us, how wealth is made.

442
00:25:43,800 --> 00:25:47,800
This is how less taxes are paid legally.

443
00:25:47,800 --> 00:25:51,800
These are the rules that the government puts in order to stimulate the economy

444
00:25:51,800 --> 00:25:54,800
and you can legally pay less taxes.

445
00:25:54,800 --> 00:25:59,800
How does it work, what is the speed of money, what profession do you give your money to?

446
00:25:59,800 --> 00:26:03,800
That is a relationship with money, and this issue is endless.

447
00:26:03,800 --> 00:26:06,800
We are just giving ourselves a little varnish.

448
00:26:06,800 --> 00:26:09,800
So, well, after messages, we are going to join the conversation.

449
00:26:09,800 --> 00:26:14,800
Esteban Zamora from Costa Rica, he is an expert in ending debt without earning more.

450
00:26:14,800 --> 00:26:16,800
We'll be back after a break.

451
00:26:16,800 --> 00:26:20,800
Connect and build through our conversation.

452
00:26:20,800 --> 00:26:22,800
Through our conversation.

453
00:26:22,800 --> 00:26:23,800
Through emotion.

454
00:26:23,800 --> 00:26:31,800
We return with Marco Antonio Regil in Fórmula.

455
00:26:31,800 --> 00:26:35,800
I am Joaquín López-Doriga and I invite you to listen to the best interviews,

456
00:26:35,800 --> 00:26:38,800
wherever, whenever you want.

457
00:26:38,800 --> 00:26:45,800
News, sports and shows on your favorite podcast platform.

458
00:26:45,800 --> 00:26:50,800
Fórmula Group, opening the conversation.

459
00:26:50,800 --> 00:26:56,800
Follow the conversation with Marco Antonio Regil in Fórmula.

460
00:26:56,800 --> 00:27:00,800
Dear money, dear debt, how I get rid of you, debt.

461
00:27:00,800 --> 00:27:04,800
We are here with two wonderful experts and a third expert will join the conversation.

462
00:27:04,800 --> 00:27:10,800
But I am reading one of the statistics of this report called Financial Well-being 2023,

463
00:27:10,800 --> 00:27:16,800
which is also very interesting and shows us how serious the problem of financial education is.

464
00:27:16,800 --> 00:27:23,800
Of the total of the surveys, 75.75% do not have defined financial objectives.

465
00:27:23,800 --> 00:27:27,800
Three out of four people, it's not for you to feel guilty, it's not a problem.

466
00:27:27,800 --> 00:27:33,800
I was there, we have all been there, unless we have had a rich father or a rich mother

467
00:27:33,800 --> 00:27:36,800
with financial education that transmitted that issue to us.

468
00:27:36,800 --> 00:27:41,800
Three out of four people in the survey do not have financial objectives.

469
00:27:41,800 --> 00:27:46,800
Men without financial objectives, 7%, that is, they do have,

470
00:27:46,800 --> 00:27:53,800
and 4% of women who do have a clear and complete definition of financial objectives that they want to achieve.

471
00:27:53,800 --> 00:27:58,800
And that is a problem because if we are saying that money is a game

472
00:27:58,800 --> 00:28:03,800
and we do not know how to win or how to lose, then how are we going to play it?

473
00:28:03,800 --> 00:28:09,800
What emotion will it give me to manage my money correctly if I do not know how I am earning?

474
00:28:09,800 --> 00:28:14,800
As if a company did not have objectives, or an employee or a collaborator did not have objectives.

475
00:28:14,800 --> 00:28:19,800
Well, how do I do it? So I do not know how to play, I do not know how I win, I do not know how I lose.

476
00:28:19,800 --> 00:28:26,800
Well, today we are definitely talking about the bad debt, which is the one that takes money from you

477
00:28:26,800 --> 00:28:30,800
and you put it in things that take more money from you or that are evaluated,

478
00:28:30,800 --> 00:28:33,800
well, it is not a good way to get into the game of money, right?

479
00:28:33,800 --> 00:28:36,800
That's how simple it is, right? To start.

480
00:28:36,800 --> 00:28:39,800
We are Duda Divina Cordoba Delgado, International Business License,

481
00:28:39,800 --> 00:28:45,800
Marina Armendares, Neuropsychologist, Coach and CEO of Capitel.com.mx,

482
00:28:45,800 --> 00:28:52,800
we already talked about why we owe so much, we already talked about how it affects us psychologically.

483
00:28:52,800 --> 00:28:56,800
Now, ok, solutions, we are going to focus this segment on solutions.

484
00:28:56,800 --> 00:29:03,800
And that is why I ask my dear friend Steven Zamora, who is connected from his beautiful country, Costa Rica,

485
00:29:03,800 --> 00:29:08,800
to explain to us how to eliminate debt without earning more money.

486
00:29:08,800 --> 00:29:10,800
Friend, that's worth gold.

487
00:29:10,800 --> 00:29:14,800
Very good, Marco, happy first to the guests, good morning to you, Marco,

488
00:29:14,800 --> 00:29:16,800
very good morning, greetings from Costa Rica, pure life.

489
00:29:16,800 --> 00:29:17,800
Pure life.

490
00:29:17,800 --> 00:29:21,800
Well, it turns out that, for example, I was listening to the neuropsychologist Mariana,

491
00:29:21,800 --> 00:29:23,800
who sends her a hug and has a lot of control over the subject.

492
00:29:23,800 --> 00:29:24,800
Marina.

493
00:29:24,800 --> 00:29:29,800
Thank you very much and she also knows, Marina has a very good control over the subject and knows how to explain it very well.

494
00:29:29,800 --> 00:29:34,800
I am going to the point of what she also talked about the issue that people who leave debt are in debt again.

495
00:29:34,800 --> 00:29:40,800
There are two statistics and the first is that 78% of Latin Americans are over-debted.

496
00:29:40,800 --> 00:29:46,800
We understand over-debt when there is more than 30% of your income committed to paying debts.

497
00:29:46,800 --> 00:29:51,800
And there is another statistic that speaks, that 82% of people who at some point come out of debt,

498
00:29:51,800 --> 00:29:56,800
no matter the way, right now we are going to talk about ways, a few years later they are in debt again.

499
00:29:56,800 --> 00:30:01,800
For many reasons, as you were talking about, childhood, lack of financial education,

500
00:30:01,800 --> 00:30:05,800
the educational system, I want them without tools and many more things.

501
00:30:05,800 --> 00:30:08,800
So, pencil and paper in hand because we are going to get to the point.

502
00:30:08,800 --> 00:30:13,800
How do I get out of debt? How do I choose, practically, because you know that time flies, friend,

503
00:30:13,800 --> 00:30:20,800
how do I choose what debts to start paying, how can I pay debts without making more money than this specialty?

504
00:30:20,800 --> 00:30:25,800
Error number one is to focus only on leaving debts when the goal has to be not to get into debt again.

505
00:30:25,800 --> 00:30:34,800
And to not get into debt again, you have to understand that the origin of debts is the excess of spending.

506
00:30:34,800 --> 00:30:39,800
A person spends a lot on his bank account and when he maintains his false lifestyle,

507
00:30:39,800 --> 00:30:43,800
it costs him a lot, he covers credit cards and when credit cards are here,

508
00:30:43,800 --> 00:30:47,800
he covers one of the banks' traps, which is to consolidate debts.

509
00:30:47,800 --> 00:30:50,800
And when he cannot consolidate more debts, he covers the informal loan.

510
00:30:50,800 --> 00:30:55,800
So, how are we going to see a snowball that turns everything against and where does everything come from?

511
00:30:55,800 --> 00:31:02,800
In the excess of spending. So, what is the first step? Boring, because it can be boring if you have never done it.

512
00:31:02,800 --> 00:31:09,800
Make a small budget that takes you 20 minutes a month, less than your favorite episode on Netflix,

513
00:31:09,800 --> 00:31:16,800
20 minutes a month for the budget. If we decompose the word, it says pre and pre means before the money arrives.

514
00:31:16,800 --> 00:31:21,800
After it has already gone, not to control the damage. It's not like when you crash your vehicle

515
00:31:21,800 --> 00:31:24,800
and they have to make a value of how much the fix costs, nothing works.

516
00:31:24,800 --> 00:31:30,800
So, plan your finances. Not only because you already have the debt up to here,

517
00:31:30,800 --> 00:31:33,800
but so that it is a good habit, even if you can inherit it from your children.

518
00:31:33,800 --> 00:31:38,800
So, budget, because of course, if I don't know how much I'm burning, the burning rate,

519
00:31:38,800 --> 00:31:42,800
which they call it monthly, if I don't know how much I'm burning, I don't know how much I need to live.

520
00:31:42,800 --> 00:31:48,800
Cash per rate. Exactly. So, I have to make a budget, I have to know how much I'm spending

521
00:31:48,800 --> 00:31:51,800
and what I'm spending it on, because that's where there may be possibilities of spending less.

522
00:31:51,800 --> 00:31:56,800
If I'm spending so much on restaurants, on clothes that I don't need.

523
00:31:56,800 --> 00:32:02,800
Marco, I'll tell you a fact. There are people who have 5 or 6 subscriptions for watching series,

524
00:32:02,800 --> 00:32:05,800
for watching movies. Each subscription is $10 or $15 a month.

525
00:32:05,800 --> 00:32:08,800
I call that, I tell my students that they are ghost expenses.

526
00:32:08,800 --> 00:32:12,800
And that multiplies. Per month, it can be more than $100, per month.

527
00:32:12,800 --> 00:32:15,800
And if Kitagora wasn't stupid, it's more than $1,000 a year.

528
00:32:15,800 --> 00:32:18,800
And people say, I don't have money. Right?

529
00:32:18,800 --> 00:32:21,800
So, there are big mistakes out there that with a budget,

530
00:32:21,800 --> 00:32:24,800
you could notice where the money leaks are.

531
00:32:24,800 --> 00:32:28,800
Of course. How much is a can worth? A medium can. Not big, not small.

532
00:32:28,800 --> 00:32:31,800
80 pesos. No, I think inflation hit them harder.

533
00:32:31,800 --> 00:32:35,800
And here's one thing about the budget that if you allow me to say,

534
00:32:35,800 --> 00:32:38,800
everyone knows that it has to be a budget and nobody does it.

535
00:32:38,800 --> 00:32:41,800
And they say that procrastination is fear.

536
00:32:41,800 --> 00:32:46,800
So, if you're procrastinating something that you know you have to do and that will do you good,

537
00:32:46,800 --> 00:32:49,800
what you have to ask yourself, what you have to say, I'm not a coward.

538
00:32:49,800 --> 00:32:51,800
What you have to ask yourself is, what am I afraid of?

539
00:32:51,800 --> 00:32:53,800
It's very threatening to make a budget.

540
00:32:53,800 --> 00:32:55,800
Because if you look back at what you're saying,

541
00:32:55,800 --> 00:33:01,800
I spend $1,000 a month on subscriptions, I mean a year on subscriptions,

542
00:33:01,800 --> 00:33:04,800
I feel, I'm scared to realize that. I'm scared.

543
00:33:04,800 --> 00:33:07,800
Imagine, $17,000 more or less, $20,000.

544
00:33:07,800 --> 00:33:10,800
I'm scared to realize that's what happens.

545
00:33:10,800 --> 00:33:12,800
So, the budget is very threatening.

546
00:33:12,800 --> 00:33:15,800
If I'm procrastinating it, the question is, why am I scared?

547
00:33:15,800 --> 00:33:18,800
It's like going up to the scale, you're scared to see how much you weigh, right?

548
00:33:18,800 --> 00:33:20,800
But if you're not up to the scale, you don't know how much you have to go down.

549
00:33:20,800 --> 00:33:22,800
You have to see your numbers. You have to see your numbers.

550
00:33:22,800 --> 00:33:24,800
Okay, and now that I've seen the numbers, I mean, basic concept,

551
00:33:24,800 --> 00:33:26,800
I know it's boring, Steven, but you're right.

552
00:33:26,800 --> 00:33:31,800
Today's survey says that half of the people spend more than they earn.

553
00:33:31,800 --> 00:33:34,800
It's great that they're not confessing that, and there are others who don't know,

554
00:33:34,800 --> 00:33:36,800
because they don't have a budget, they don't see the numbers.

555
00:33:36,800 --> 00:33:39,800
There are even people who don't know how much they earn.

556
00:33:39,800 --> 00:33:42,800
That's the worst of it all. There are people who don't know how much they earn.

557
00:33:42,800 --> 00:33:44,800
Of course, because maybe they haven't done the math.

558
00:33:44,800 --> 00:33:48,800
Well, of course, if you give out services, if you're not employed and you have a single source...

559
00:33:48,800 --> 00:33:51,800
I have a question. I'm a freelancer. How much am I going to earn?

560
00:33:51,800 --> 00:33:53,800
I can't make a budget because I don't know how much I'm going to earn.

561
00:33:53,800 --> 00:33:57,800
Of course, or you spend things, you spend them before paying your taxes.

562
00:33:57,800 --> 00:33:59,800
You don't save the money.

563
00:33:59,800 --> 00:34:01,800
It's not yours. It's not yours.

564
00:34:01,800 --> 00:34:04,800
Or the IBA here in Mexico, which is an income tax that is not yours.

565
00:34:04,800 --> 00:34:07,800
But you spend it. You spend the IBA.

566
00:34:07,800 --> 00:34:09,800
They took the budget number one.

567
00:34:09,800 --> 00:34:14,800
Hey, Steven, but since I have a budget, what debts are the ones that should be paid faster?

568
00:34:14,800 --> 00:34:17,800
Would the other interest rates be logical or not?

569
00:34:17,800 --> 00:34:25,800
No, in this case, from a psychological point of view, I am certified as a marine, but in neuroscience.

570
00:34:25,800 --> 00:34:31,800
And the brain has to be rewarded. And a great reward for the brain is to fight for the debts from the smallest to the biggest.

571
00:34:31,800 --> 00:34:34,800
And for the brain to feel victories little by little.

572
00:34:34,800 --> 00:34:37,800
It's psychological, not so much numbers.

573
00:34:37,800 --> 00:34:40,800
That's in a normal situation. I'm going to give you an example.

574
00:34:40,800 --> 00:34:45,800
For a person who is in a challenge to lose a few kilos, what is more satisfying?

575
00:34:45,800 --> 00:34:49,800
Losing, I don't know, 20 kilos in a year or losing a kilo a month.

576
00:34:49,800 --> 00:34:52,800
What will be more satisfying? To feel those little victories.

577
00:34:52,800 --> 00:34:56,800
So, about debts, normally, because of course there are special cases.

578
00:34:56,800 --> 00:34:59,800
For example, people who get into loans drop by drop.

579
00:34:59,800 --> 00:35:02,800
Or people who get into loans with people from the dark world.

580
00:35:02,800 --> 00:35:05,800
Those are the debts that have to be taken out as quickly as possible.

581
00:35:05,800 --> 00:35:08,800
Everyone has different situations and financial realities.

582
00:35:08,800 --> 00:35:14,800
So, if I owe money to someone who is in the colony, who is dedicated to lending money, those are the first ones I have to get out of.

583
00:35:14,800 --> 00:35:17,800
And not only are the colonies, they are also the applications.

584
00:35:17,800 --> 00:35:22,800
Yes, and you get a lot of quick loans, very high interest rates.

585
00:35:22,800 --> 00:35:25,800
Download the app and I'll let you go right now.

586
00:35:25,800 --> 00:35:26,800
And while...

587
00:35:26,800 --> 00:35:28,800
I'm going to give you an example of interest rates.

588
00:35:28,800 --> 00:35:32,800
When you get an interest rate that is daily interest rate of 0.0% or whatever,

589
00:35:32,800 --> 00:35:34,800
you have to click on that, annual.

590
00:35:34,800 --> 00:35:39,800
If it's more than 20% annual, more than 10% annual, it's usury.

591
00:35:39,800 --> 00:35:43,800
It's usury and it's illegal and in most countries it's illegal, in others it's not.

592
00:35:43,800 --> 00:35:49,800
But hopefully at some point everything becomes illegal because if it's more than 10%, 20% for a personal loan, it's usury.

593
00:35:49,800 --> 00:35:53,800
Sure. Right now we were in the commercial court and we heard a commercial that said something about the CAT.

594
00:35:53,800 --> 00:35:55,800
CAT, I don't remember, but it said a number.

595
00:35:55,800 --> 00:35:58,800
I think it was a commercial for a card or a bank, right?

596
00:35:58,800 --> 00:36:01,800
What is the CAT? What is the CAT here in Mexico?

597
00:36:01,800 --> 00:36:03,800
Total annual cost.

598
00:36:03,800 --> 00:36:04,800
Total annual cost.

599
00:36:04,800 --> 00:36:05,800
Of the debt.

600
00:36:05,800 --> 00:36:08,800
All debt paradoxes have CAT.

601
00:36:08,800 --> 00:36:11,800
CAT. And when they say that, it's not a cat, it's CAT.

602
00:36:11,800 --> 00:36:13,800
It's annual cost of debt.

603
00:36:13,800 --> 00:36:15,800
And it's not the interest rate, which is another mistake.

604
00:36:15,800 --> 00:36:17,800
CAT is the same interest rate, no.

605
00:36:17,800 --> 00:36:20,800
The CAT includes everything that costs on the card.

606
00:36:20,800 --> 00:36:23,800
Commissions, late payments, withdrawals, everything that costs on the debt.

607
00:36:23,800 --> 00:36:26,800
So when I hear in a commercial, give me an example, CAT...

608
00:36:26,800 --> 00:36:27,800
Ah, well, that's another topic.

609
00:36:27,800 --> 00:36:29,800
There are three types of CAT.

610
00:36:29,800 --> 00:36:34,800
There is the personalized CAT, to your use and payment profile with the bank.

611
00:36:34,800 --> 00:36:38,800
There is the standardized CAT, which is the one registered by the authorities.

612
00:36:38,800 --> 00:36:40,800
And there is the informative CAT.

613
00:36:40,800 --> 00:36:43,800
The one we hear in commercials is the informative CAT.

614
00:36:43,800 --> 00:36:46,800
Which can move once the product is customized as a debt.

615
00:36:46,800 --> 00:36:49,800
Which is total annual cost.

616
00:36:49,800 --> 00:36:54,800
It's very good for the people who are watching us to compare the product before starting to use it.

617
00:36:54,800 --> 00:36:58,800
Okay, now, I love credit cards and I love my bank.

618
00:36:58,800 --> 00:37:00,800
Because I have a healthy relationship with it.

619
00:37:00,800 --> 00:37:01,800
I didn't have them before.

620
00:37:01,800 --> 00:37:04,800
Before I owed credit cards and it was horrible.

621
00:37:04,800 --> 00:37:08,800
But credit cards are wonderful if you know how to use them well.

622
00:37:08,800 --> 00:37:10,800
What do you think, Steven?

623
00:37:10,800 --> 00:37:13,800
As we said in our podcast episode a few months ago, Marco,

624
00:37:13,800 --> 00:37:19,800
credit cards don't get stuck in the morning and jump from terminal to terminal in a commercial, right?

625
00:37:19,800 --> 00:37:21,800
Card cards are not bad.

626
00:37:21,800 --> 00:37:23,800
The administrator of the card is bad.

627
00:37:23,800 --> 00:37:26,800
And there are also people who can't pay by account.

628
00:37:26,800 --> 00:37:29,800
Two cards, they offer one more, then more comes.

629
00:37:29,800 --> 00:37:32,800
And I've seen people with 17 credit cards.

630
00:37:32,800 --> 00:37:33,800
And all of them are here.

631
00:37:33,800 --> 00:37:36,800
Where they even come to make a debt reunification.

632
00:37:36,800 --> 00:37:42,800
And the amount of debt is so much that they put their house as a mortgage guarantee to be able to refinance debt,

633
00:37:42,800 --> 00:37:44,800
which is a bank trap.

634
00:37:44,800 --> 00:37:47,800
So, the issue is not the cards, the issue is how you are using them.

635
00:37:47,800 --> 00:37:49,800
You have to look for financial education.

636
00:37:49,800 --> 00:37:54,800
If the educational system, your parents, your family, I don't know, who do you believe,

637
00:37:54,800 --> 00:37:59,800
doesn't give you financial education, go out and look for books, courses, training, whatever.

638
00:37:59,800 --> 00:38:02,800
But go out and look for real financial education.

639
00:38:02,800 --> 00:38:06,800
I'm not saying that you go into a pyramid of putting two friends in a simple application.

640
00:38:06,800 --> 00:38:08,800
I'm talking about financial education.

641
00:38:08,800 --> 00:38:15,800
Someone who teaches you about credit card, the mortgage trap in many countries and many more.

642
00:38:15,800 --> 00:38:16,800
Of course, guess what?

643
00:38:16,800 --> 00:38:18,800
The credit cards are good or bad?

644
00:38:18,800 --> 00:38:19,800
Very good.

645
00:38:19,800 --> 00:38:21,800
I'm in love with my credit card.

646
00:38:21,800 --> 00:38:25,800
Protection, points, credit history.

647
00:38:25,800 --> 00:38:28,800
Some, because it's clearly going up in the level.

648
00:38:28,800 --> 00:38:32,800
Access to VIP rooms when you go on a trip and then you don't spend on the airport.

649
00:38:32,800 --> 00:38:33,800
For me, they are wonderful.

650
00:38:33,800 --> 00:38:35,800
Yes, I also love my credit card.

651
00:38:35,800 --> 00:38:41,800
And look, I had, at 19, I had my scary X on the credit desk for a credit card.

652
00:38:41,800 --> 00:38:43,800
Of course, the bank is your ally.

653
00:38:43,800 --> 00:38:47,800
If you know how to use what they are saying here, the bank is your ally, the credit card is your ally.

654
00:38:47,800 --> 00:38:51,800
Everything is perfect, it's wonderful what banks give you and credit cards.

655
00:38:51,800 --> 00:38:55,800
But the issue is to use them to not end up with the psychologist crying.

656
00:38:55,800 --> 00:39:02,800
But hey, I know we're running out of time, but psychologists also take the opportunity to talk about the issue of money, right?

657
00:39:02,800 --> 00:39:03,800
We're talking about the court.

658
00:39:03,800 --> 00:39:07,800
I'm a psychologist and if you had told me that one day I was going to talk about money, I would have thought that you were laughing.

659
00:39:07,800 --> 00:39:13,800
And what happens is that I realized, working as a coach with financiers, that psychologists don't, in general,

660
00:39:13,800 --> 00:39:17,800
I'm not talking about all my colleagues, there are some that don't, but in general, we don't talk so much about money.

661
00:39:17,800 --> 00:39:21,800
And to a large extent, we are also human beings, professionals, but human beings,

662
00:39:21,800 --> 00:39:24,800
that we ourselves do not have the issue of money resolved.

663
00:39:24,800 --> 00:39:29,800
Because a psychologist charges, a clinical psychologist charges for their therapeutic services,

664
00:39:29,800 --> 00:39:33,800
which are intangible and there is a certain discomfort.

665
00:39:33,800 --> 00:39:36,800
And psychologists should teach us to charge and they should teach us, like everyone else,

666
00:39:36,800 --> 00:39:40,800
to generate and make us responsible for our relationship with money.

667
00:39:40,800 --> 00:39:45,800
So the same psychologist, suddenly you take the issue out a little bit,

668
00:39:45,800 --> 00:39:50,800
because you know that you yourself or yourself have profound discomfort around that issue.

669
00:39:50,800 --> 00:39:55,800
We return to the same topic, in school they give you academic education, sum, rest, geography,

670
00:39:55,800 --> 00:40:03,800
they give you professional education, psychologist, geologist, doctor, but they don't give you financial education.

671
00:40:03,800 --> 00:40:07,800
And that's part of the problem, our beloved teachers, who must earn a lot,

672
00:40:07,800 --> 00:40:10,800
must also have financial education.

673
00:40:10,800 --> 00:40:13,800
Because so that they can transmit financial education, not like, Steven,

674
00:40:13,800 --> 00:40:19,800
how are you going to ask a teacher to give you an education that they didn't give him and that is affecting him or her?

675
00:40:19,800 --> 00:40:25,800
So it's not only paying well to teachers, that I applaud because teachers earn super well.

676
00:40:25,800 --> 00:40:28,800
They have the greatest responsibility in the world, which is to educate our children.

677
00:40:28,800 --> 00:40:33,800
But financial education, Steven, I don't know, or there in Costa Rica, they give financial education to teachers.

678
00:40:33,800 --> 00:40:36,800
Marco, no, no, hopefully it's true. And it was a shocking fact.

679
00:40:36,800 --> 00:40:41,800
Between my more than 34,000 students in 32 countries, I have had students who come from prestigious universities

680
00:40:41,800 --> 00:40:46,800
like Stanford, Harvard, MIT, they never taught them, and what is a budget?

681
00:40:46,800 --> 00:40:49,800
They never taught them how to use a credit card.

682
00:40:49,800 --> 00:40:54,800
So it's unreal to think that the system, globally, we are not talking about just one country,

683
00:40:54,800 --> 00:40:56,800
wants you to have financial education.

684
00:40:56,800 --> 00:40:59,800
Of course, and then the issue, how do we want people to make a living?

685
00:40:59,800 --> 00:41:03,800
How do we want them to do well, I don't know, in a marketing network, in the corner shop,

686
00:41:03,800 --> 00:41:08,800
selling clothes, whatever you sell. And financial education is not accounting.

687
00:41:08,800 --> 00:41:12,800
And if you allow me to complement what I was saying, sometimes we believe that those who study finance,

688
00:41:12,800 --> 00:41:13,800
do know about this.

689
00:41:13,800 --> 00:41:14,800
No.

690
00:41:14,800 --> 00:41:15,800
No.

691
00:41:15,800 --> 00:41:19,800
I have been to very large financial companies, giving financial education workshops,

692
00:41:19,800 --> 00:41:22,800
because there are problems with personal finances.

693
00:41:22,800 --> 00:41:24,800
It's a whole topic.

694
00:41:24,800 --> 00:41:28,800
In a minute we are going to say goodbye to Telefórmula, but we will continue in Radio Fórmula

695
00:41:28,800 --> 00:41:31,800
another time, but for the people who are watching us on TV, goodbye.

696
00:41:31,800 --> 00:41:35,800
Steven, last tips to get out of debt, because that takes time.

697
00:41:35,800 --> 00:41:37,800
Number one, do not focus only on making more money.

698
00:41:37,800 --> 00:41:40,800
The one who earns the most, spends the most, and if you do not have financial education,

699
00:41:40,800 --> 00:41:42,800
this will happen to most Latinos.

700
00:41:42,800 --> 00:41:48,800
Get used to making a budget, do not access the social pressure to spend more to look like what you are not.

701
00:41:48,800 --> 00:41:50,800
Do not end up in debt for a car that you do not need.

702
00:41:50,800 --> 00:41:54,800
Do not take out to quotas or months without interest, which is one of the biggest traps today,

703
00:41:54,800 --> 00:41:59,800
where even in countries like Colombia you can even take out a Coca-Cola, months without interest.

704
00:41:59,800 --> 00:42:02,800
Be very careful with looking like what you are not.

705
00:42:02,800 --> 00:42:07,800
That's where everything is distributed and analyze your roots, because by pattern of conduct learned,

706
00:42:07,800 --> 00:42:11,800
what you saw in your childhood, automatically subconsciously you are going to replicate it.

707
00:42:11,800 --> 00:42:16,800
Then think about how your childhood was in financial issues and more, there you will find many answers.

708
00:42:16,800 --> 00:42:20,800
Look for a professional guide at a psychological level, I think psychology and finances go hand in hand.

709
00:42:20,800 --> 00:42:21,800
Super.

710
00:42:21,800 --> 00:42:23,800
And you will find many answers there.

711
00:42:23,800 --> 00:42:25,800
Do you agree with us for the next invention, Steven?

712
00:42:25,800 --> 00:42:26,800
Of course, whatever you want.

713
00:42:26,800 --> 00:42:29,800
Perfect, Ludivina, final advice for people who watch us on TV.

714
00:42:29,800 --> 00:42:34,800
Learn about debts, credit cards, a level, and this is a fact that I share with you,

715
00:42:34,800 --> 00:42:38,800
a more or less healthy level of debt, and it will depend on your expenses and so on,

716
00:42:38,800 --> 00:42:42,800
is that your payments of your debts are not taken more than 30% of your income.

717
00:42:42,800 --> 00:42:43,800
That's a healthy level.

718
00:42:43,800 --> 00:42:48,800
Productive debts, preferably use them for something that can generate income.

719
00:42:48,800 --> 00:42:51,800
After the cut we will talk more about good debt, bad debt.

720
00:42:51,800 --> 00:42:53,800
For people on the phone, last advice, Marina.

721
00:42:53,800 --> 00:42:59,800
I would say that they awaken their curiosity of their own relationship with money.

722
00:42:59,800 --> 00:43:02,800
Approach it from curiosity, they will discover, as Steven says,

723
00:43:02,800 --> 00:43:08,800
many interesting things about who they are and how they make decisions if they are interested in their own relationship with money.

724
00:43:08,800 --> 00:43:09,800
Perfect.

725
00:43:09,800 --> 00:43:10,800
We take a break for Radio Fórmula.

726
00:43:10,800 --> 00:43:15,800
In Telefórmula we say goodbye and you are with the queen of the radio, Maxine Goodside.

727
00:43:15,800 --> 00:43:20,800
In Radio Fórmula we will continue and tomorrow here in the program we will talk about longevity.

728
00:43:20,800 --> 00:43:25,800
How to get healthy at 70, 80, 90, 100 years old?

729
00:43:25,800 --> 00:43:27,800
That is the topic for tomorrow.

730
00:43:27,800 --> 00:43:53,800
Thank you, Telefórmula, we return on the radio.

731
00:43:53,800 --> 00:43:57,800
We continue on Radio Fórmula, live with you.

732
00:43:57,800 --> 00:44:24,800
We continue on Radio Fórmula, live with you.

733
00:44:24,800 --> 00:44:28,800
This week we have on my YouTube channel, Marisa Lasso,

734
00:44:28,800 --> 00:44:33,800
one of the great leaders and Mexican entrepreneurs who was in the Latin version of Shark Tank.

735
00:44:33,800 --> 00:44:37,800
She is number one. Marisa Lasso, you know her.

736
00:44:37,800 --> 00:44:38,800
A jewel.

737
00:44:38,800 --> 00:44:42,800
A jewel. She started her business in a garage selling cookies and everything.

738
00:44:42,800 --> 00:44:45,800
Today you see Marisa's cookies all over Guadalajara and many places in Mexico.

739
00:44:45,800 --> 00:44:48,800
We are talking about life beyond fear.

740
00:44:48,800 --> 00:44:52,800
What happens to your life when you learn to handle your fear?

741
00:44:52,800 --> 00:44:55,800
Marisa Lasso on the YouTube podcast MarcantonioRigil.TV

742
00:44:55,800 --> 00:44:58,800
and this program can be found in Grupo Fórmula.

743
00:44:58,800 --> 00:45:00,800
There are all the episodes we have.

744
00:45:00,800 --> 00:45:03,800
This one, if you are not listening to the radio and you can't hear it completely,

745
00:45:03,800 --> 00:45:07,800
you want it completely, go to Grupo Fórmula on the YouTube channel.

746
00:45:07,800 --> 00:45:11,800
Well, we continue to talk about debts, financial well-being.

747
00:45:11,800 --> 00:45:16,800
People on Instagram are leaving comments on my account that is MarcantonioRigil.

748
00:45:16,800 --> 00:45:20,800
Some say they have their accounts and their relationship with money.

749
00:45:20,800 --> 00:45:22,800
Others say they don't.

750
00:45:22,800 --> 00:45:24,800
Rooski says,

751
00:45:24,800 --> 00:45:29,800
I don't know how to organize myself. I buy things that I don't need.

752
00:45:29,800 --> 00:45:34,800
Lilia Macias says, my financial life is a disaster and I don't know how to get out of the mess.

753
00:45:34,800 --> 00:45:36,800
I understand you because it is a nightmare.

754
00:45:36,800 --> 00:45:40,800
Luz Maria Maldonado Carrion says, I am a compulsive buyer.

755
00:45:40,800 --> 00:45:45,800
Katie says, I have expensive tastes but I earn the least.

756
00:45:45,800 --> 00:45:47,800
Sad reality.

757
00:45:47,800 --> 00:45:51,800
So it is a very common headache.

758
00:45:51,800 --> 00:45:55,800
Jota Socorro-Mendez says, I am a prey of materialism.

759
00:45:55,800 --> 00:45:58,800
There is a lot to do, right friends?

760
00:45:58,800 --> 00:46:01,800
There is a lot to do. A lot to fix.

761
00:46:01,800 --> 00:46:04,800
Let's see. Good debt against bad debt.

762
00:46:04,800 --> 00:46:06,800
It will never be enough to highlight it.

763
00:46:06,800 --> 00:46:10,800
The rich people, as we said at the beginning of the program, live in debt.

764
00:46:10,800 --> 00:46:15,800
But they are in debt not to buy a sofa or a bag of Versantes.

765
00:46:15,800 --> 00:46:18,800
They are in debt to make money.

766
00:46:18,800 --> 00:46:20,800
What do you think about debt?

767
00:46:20,800 --> 00:46:22,800
Let's see, Ludivina, what do you think about debt?

768
00:46:22,800 --> 00:46:26,800
Let's see. Debt, first, is breaking the taboo.

769
00:46:26,800 --> 00:46:29,800
Because in Mexico, it is not as it is in Costa Rica, Steven.

770
00:46:29,800 --> 00:46:33,800
Here in Mexico, there are people who say, no, why should I owe someone?

771
00:46:33,800 --> 00:46:36,800
I don't want to owe anything. I also think it is extreme.

772
00:46:36,800 --> 00:46:37,800
It is the other extreme.

773
00:46:37,800 --> 00:46:38,800
It is not healthy.

774
00:46:38,800 --> 00:46:42,800
Because in the end, it leaves you out of the game of money.

775
00:46:42,800 --> 00:46:46,800
To be afraid of debt is not knowing how that part of the game works.

776
00:46:46,800 --> 00:46:48,800
Everything is built with someone's debt.

777
00:46:48,800 --> 00:46:53,800
This building where we are, someone was indebted to build it and then rent it.

778
00:46:53,800 --> 00:46:56,800
Let's see, the money that today circulates through our hands is debt.

779
00:46:56,800 --> 00:46:57,800
It is debt.

780
00:46:57,800 --> 00:46:59,800
Of course. That's what it emits.

781
00:46:59,800 --> 00:47:01,800
That's why we can't print more money.

782
00:47:01,800 --> 00:47:02,800
Of course.

783
00:47:02,800 --> 00:47:03,800
It is debt.

784
00:47:03,800 --> 00:47:08,800
The car you drive, the one that manufactured that car, has debt to operate his company.

785
00:47:08,800 --> 00:47:14,800
So, understanding that it is part of the rules of the game of money is essential

786
00:47:14,800 --> 00:47:17,800
so that you can then migrate from bad debt to good debt.

787
00:47:17,800 --> 00:47:18,800
Good debt exists.

788
00:47:18,800 --> 00:47:21,800
Speaking of that, it seems impressive to me.

789
00:47:21,800 --> 00:47:23,800
I worked in the bank in the debt part.

790
00:47:23,800 --> 00:47:24,800
I did debt analysis.

791
00:47:24,800 --> 00:47:27,800
Then I went to the bank to do debt placement.

792
00:47:27,800 --> 00:47:30,800
The amount of debt products that there are.

793
00:47:30,800 --> 00:47:34,800
Payment, remittance, personal, nominal.

794
00:47:34,800 --> 00:47:35,800
It is a whole world.

795
00:47:35,800 --> 00:47:36,800
It is a whole world.

796
00:47:36,800 --> 00:47:40,800
And if there are all those ways to make a debt, it is because it is useful for something.

797
00:47:40,800 --> 00:47:41,800
Of course.

798
00:47:41,800 --> 00:47:42,800
But you have to have financial education.

799
00:47:42,800 --> 00:47:43,800
Debt, not Steven.

800
00:47:43,800 --> 00:47:45,800
Debt without financial education is hell.

801
00:47:45,800 --> 00:47:46,800
It is hell.

802
00:47:46,800 --> 00:47:47,800
Debt.

803
00:47:47,800 --> 00:47:49,800
And look, I'm going to give the same example.

804
00:47:49,800 --> 00:47:50,800
Let's see.

805
00:47:50,800 --> 00:47:53,800
I, my students, part of what I also teach is to invest in stock market values,

806
00:47:53,800 --> 00:47:56,800
really, as it should be done, without recruiting people.

807
00:47:56,800 --> 00:47:57,800
I mean, real investment.

808
00:47:57,800 --> 00:48:01,800
And one of the metrics that I teach my students is to see the liquid debt between the levy,

809
00:48:01,800 --> 00:48:04,800
to see how the debt of the companies is.

810
00:48:04,800 --> 00:48:07,800
The vast majority of companies have debt, except the banks.

811
00:48:07,800 --> 00:48:10,800
Because the banks work with people's money, which is another topic that we will talk about later.

812
00:48:10,800 --> 00:48:11,800
Context.

813
00:48:11,800 --> 00:48:14,800
I worked for two largest banks in Latin America for eight years,

814
00:48:14,800 --> 00:48:16,800
and I also have knowledge of the debt issue.

815
00:48:16,800 --> 00:48:19,800
For example, when I was a commercial executive,

816
00:48:19,800 --> 00:48:24,800
companies came every day looking for lines of 1 or 10 million dollars of debt credit.

817
00:48:24,800 --> 00:48:25,800
Why?

818
00:48:25,800 --> 00:48:29,800
Because with that money they put it to work and that money brings more money.

819
00:48:29,800 --> 00:48:32,800
In my personal case, I have 42 properties.

820
00:48:32,800 --> 00:48:35,800
Many of those with credit and commission or mortgage,

821
00:48:35,800 --> 00:48:37,800
that pay a fee of $800.

822
00:48:37,800 --> 00:48:40,800
And for example, I will give an example of one here in Costa Rica,

823
00:48:40,800 --> 00:48:45,800
that with $800 of fee generates $4,900 average of bill.

824
00:48:45,800 --> 00:48:46,800
That is good debt.

825
00:48:46,800 --> 00:48:47,800
That is good debt.

826
00:48:47,800 --> 00:48:48,800
Of course.

827
00:48:48,800 --> 00:48:50,800
Not a television screen for months without interest,

828
00:48:50,800 --> 00:48:54,800
or the new iPhone because everyone in your office has a new iPhone and you paid that fee.

829
00:48:54,800 --> 00:48:55,800
That is not good debt.

830
00:48:55,800 --> 00:48:57,800
No, it is not good debt.

831
00:48:57,800 --> 00:49:05,800
And in many countries the interest rate you pay for good debt is deductible from taxes, or not?

832
00:49:05,800 --> 00:49:06,800
Here it is.

833
00:49:06,800 --> 00:49:07,800
Here it is.

834
00:49:07,800 --> 00:49:08,800
Here it is.

835
00:49:08,800 --> 00:49:10,800
In the United States too, in Costa Rica I imagine.

836
00:49:10,800 --> 00:49:12,800
Yes, because the government needs that money moves.

837
00:49:12,800 --> 00:49:13,800
That it moves.

838
00:49:13,800 --> 00:49:14,800
Exactly.

839
00:49:14,800 --> 00:49:15,800
And that you generate jobs.

840
00:49:15,800 --> 00:49:20,800
Then this bonus says, you owe and the interest rate you are paying is deductible from taxes.

841
00:49:20,800 --> 00:49:25,800
But the one from the TV to the 62-inch screen that you bought to watch football.

842
00:49:25,800 --> 00:49:27,800
Well, that one no.

843
00:49:27,800 --> 00:49:29,800
The government is clearly telling you,

844
00:49:29,800 --> 00:49:31,800
hey, beautiful little boy from my heart,

845
00:49:31,800 --> 00:49:33,800
here yes, here no.

846
00:49:33,800 --> 00:49:35,800
So there is the issue.

847
00:49:35,800 --> 00:49:39,800
Now, psychologically, this of months without interest,

848
00:49:39,800 --> 00:49:42,800
or I deserve it because I work for that,

849
00:49:42,800 --> 00:49:45,800
psychologically how do these thoughts affect us?

850
00:49:45,800 --> 00:49:46,800
Pause there.

851
00:49:46,800 --> 00:49:48,800
Marco, God will prove.

852
00:49:48,800 --> 00:49:49,800
God will prove.

853
00:49:49,800 --> 00:49:50,800
Oh, my dear.

854
00:49:50,800 --> 00:49:54,480
Well, the

855
00:49:54,480 --> 00:49:59,480
life is only lived once.

856
00:49:59,480 --> 00:50:00,480
Well, we'll see later.

857
00:50:00,480 --> 00:50:01,480
We will see later.

858
00:50:01,480 --> 00:50:02,480
God will prove.

859
00:50:02,480 --> 00:50:05,480
We live in a dissociation as if the person who is going to pay that debt was not you.

860
00:50:05,480 --> 00:50:06,480
It will be God.

861
00:50:06,480 --> 00:50:07,480
It will be God.

862
00:50:07,480 --> 00:50:09,480
And I even leave it to my future self.

863
00:50:09,480 --> 00:50:10,480
Exactly.

864
00:50:10,480 --> 00:50:13,480
The rose of Guadalupe is going to appear to me with a check to pay me.

865
00:50:13,480 --> 00:50:15,480
That's the problem of Marina del Futuro.

866
00:50:15,480 --> 00:50:19,480
And what happens is that finally Marina del Futuro is me,

867
00:50:19,480 --> 00:50:21,480
Marco, the future is you.

868
00:50:21,480 --> 00:50:24,480
And you say, curse the day I bought this screen.

869
00:50:24,480 --> 00:50:25,480
Curse the day.

870
00:50:25,480 --> 00:50:26,480
And so you take it.

871
00:50:26,480 --> 00:50:30,480
And the thing is, and this is very, very, very important,

872
00:50:30,480 --> 00:50:34,480
most of us do not know how to live our money from,

873
00:50:34,480 --> 00:50:37,480
let's say, from the enjoyment.

874
00:50:37,480 --> 00:50:41,480
And then everything we have around money is stress, worry,

875
00:50:41,480 --> 00:50:44,480
precisely because of all these patterns that we have talked about

876
00:50:44,480 --> 00:50:47,480
and even with work, with the way in which we produce money.

877
00:50:47,480 --> 00:50:50,480
So my work punishes me, my money tortures me.

878
00:50:50,480 --> 00:50:54,480
So the only way to feel good about this is by making a expense or not.

879
00:50:54,480 --> 00:50:57,480
So what happens is that it is also a way to try to balance

880
00:50:57,480 --> 00:51:02,480
the I deserve it for that job, to balance the sacrifices we make.

881
00:51:02,480 --> 00:51:05,480
So it is also important to think, hey,

882
00:51:05,480 --> 00:51:08,480
this does not have to be a viacruz, it is your daily life,

883
00:51:08,480 --> 00:51:11,480
so that then you have to go on vacation or you have to buy a screen

884
00:51:11,480 --> 00:51:14,480
so that then it is worth what you are doing.

885
00:51:14,480 --> 00:51:16,480
It is a super multifactorial and super deep issue.

886
00:51:16,480 --> 00:51:19,480
But if you are thinking all the time about that job, I deserve it,

887
00:51:19,480 --> 00:51:23,480
it means that then you feel that you have a debt with yourself,

888
00:51:23,480 --> 00:51:26,480
suffering, how you produce that money,

889
00:51:26,480 --> 00:51:28,480
and then you have to reward for producing.

890
00:51:28,480 --> 00:51:31,480
So that is fed back and it becomes very toxic,

891
00:51:31,480 --> 00:51:34,480
because you have to work more to pay for that job.

892
00:51:34,480 --> 00:51:37,480
Now, there is no problem with wanting the screen,

893
00:51:37,480 --> 00:51:39,480
there is no problem with wanting the luxury car,

894
00:51:39,480 --> 00:51:42,480
there is no problem with going on vacation to Costa Rica, Guatulum,

895
00:51:42,480 --> 00:51:46,480
or La Paz, no, there is no problem, just, yes, pure life.

896
00:51:46,480 --> 00:51:49,480
But the issue is where that money comes from,

897
00:51:49,480 --> 00:51:52,480
because the rich are given those luxuries with what they have left over

898
00:51:52,480 --> 00:51:55,480
from their investments, not with their personal salary.

899
00:51:55,480 --> 00:51:59,480
And you have that experience, that is, the experience of when you go on vacation

900
00:51:59,480 --> 00:52:03,480
to a place that reaches you, that you saved, that you know how you are going to pay,

901
00:52:03,480 --> 00:52:05,480
vacation is a joy.

902
00:52:05,480 --> 00:52:09,480
You have an incredible time, you pay for the food, you buy the jeans, happy.

903
00:52:09,480 --> 00:52:13,480
When you go on vacation, knowing that you went on vacation with money

904
00:52:13,480 --> 00:52:17,480
borrowed by yourself, but that you, with debt assumed,

905
00:52:17,480 --> 00:52:19,480
and probably everyone has this experience,

906
00:52:19,480 --> 00:52:22,480
you are on the last day of vacation and you are going to have a panic attack.

907
00:52:22,480 --> 00:52:23,480
Of course.

908
00:52:23,480 --> 00:52:26,480
That is, you are going back on the plane, you open the door of your house

909
00:52:26,480 --> 00:52:30,480
and a depression enters you, which, be careful, is not the ghosts of Sunday,

910
00:52:30,480 --> 00:52:34,480
it is not the depression of vacation, it is the real panic of knowing

911
00:52:34,480 --> 00:52:36,480
that you have just been shot in the foot.

912
00:52:36,480 --> 00:52:37,480
Of course.

913
00:52:37,480 --> 00:52:39,480
And that now you are the future self who has to pay that debt.

914
00:52:39,480 --> 00:52:40,480
You don't really enjoy it.

915
00:52:40,480 --> 00:52:41,480
You don't really enjoy it.

916
00:52:41,480 --> 00:52:42,480
No, you don't really enjoy it.

917
00:52:42,480 --> 00:52:43,480
That's true.

918
00:52:43,480 --> 00:52:45,480
So you also have to have a budget for going on vacation, right?

919
00:52:45,480 --> 00:52:48,480
Here Marco, in our episode of the podcast,

920
00:52:48,480 --> 00:52:51,480
I said a joke that people in comments loved and it is,

921
00:52:51,480 --> 00:52:54,480
it's not worth going to enjoy seven days, some wonderful place

922
00:52:54,480 --> 00:52:56,480
and come back with 60 months of bitterness.

923
00:52:56,480 --> 00:52:59,480
That is not worth it.

924
00:52:59,480 --> 00:53:01,480
The photos on your Facebook are not worth it.

925
00:53:01,480 --> 00:53:03,480
The stories of your Instagram are not worth it.

926
00:53:03,480 --> 00:53:06,480
That people talk to you about that beautiful trip is not worth it.

927
00:53:06,480 --> 00:53:09,480
If you are going to spend five years, that is an unforgettable trip,

928
00:53:09,480 --> 00:53:12,480
you are going to spend five years, 60 months paying month by month,

929
00:53:12,480 --> 00:53:14,480
possibly a bad decision.

930
00:53:14,480 --> 00:53:15,480
Now I'm going to the financial part.

931
00:53:15,480 --> 00:53:18,480
If you want to do that, order yourself, damn it.

932
00:53:18,480 --> 00:53:21,480
In other words, you can't be doing things with debt because I deserve it.

933
00:53:21,480 --> 00:53:22,480
God will provide.

934
00:53:22,480 --> 00:53:25,480
Take out a lot of play, a lot of fun and that.

935
00:53:25,480 --> 00:53:27,480
Plan your trip.

936
00:53:27,480 --> 00:53:28,480
How much is it going to cost you?

937
00:53:28,480 --> 00:53:32,480
You have six months, a year to organize that trip and save a part every month.

938
00:53:32,480 --> 00:53:33,480
Stop being indebted.

939
00:53:33,480 --> 00:53:37,480
Instant satisfaction is screwing Latino.

940
00:53:37,480 --> 00:53:43,480
Instant satisfaction will never, never be the tool to have a financial balance.

941
00:53:43,480 --> 00:53:45,480
And I'm going to give you two words.

942
00:53:45,480 --> 00:53:47,480
Pleasure, happiness.

943
00:53:47,480 --> 00:53:49,480
Pleasure is short term, happiness is long term.

944
00:53:49,480 --> 00:53:50,480
What do you prefer?

945
00:53:50,480 --> 00:53:55,480
And there about what you say is, I think we were talking a lot about your present,

946
00:53:55,480 --> 00:53:58,480
no, the past, how your past affects your present.

947
00:53:58,480 --> 00:54:01,480
And then we haven't gotten into the conversation of your future.

948
00:54:01,480 --> 00:54:04,480
Because if we think about this distribution of income, no,

949
00:54:04,480 --> 00:54:09,480
that more or less 50 percent needs what I need, 30 percent wants what I want,

950
00:54:09,480 --> 00:54:11,480
vacation, the screen, etc.

951
00:54:11,480 --> 00:54:13,480
And 20 percent future.

952
00:54:13,480 --> 00:54:18,480
Because first we heal the present, but then we also think that what I already organized

953
00:54:18,480 --> 00:54:22,480
and what I have left over, then it is for vacation and it is for the screen.

954
00:54:22,480 --> 00:54:27,480
No, you are also going to live in a year and in 10, 15, 20 and the systems do not give

955
00:54:27,480 --> 00:54:32,480
for you to live like today, nothing more with your pension.

956
00:54:32,480 --> 00:54:36,480
And here is a term that we have to add and it is the minors of 40 years in many

957
00:54:36,480 --> 00:54:38,480
Latin American countries will not have pensions.

958
00:54:38,480 --> 00:54:41,480
Pension systems are collapsing and it is part of what I teach my students.

959
00:54:41,480 --> 00:54:43,480
That's why I teach them inverted.

960
00:54:43,480 --> 00:54:47,480
Let's continue the conversation after a little pause and that is one of the first things

961
00:54:47,480 --> 00:54:51,480
I learned, what you are saying about immediate satisfaction.

962
00:54:51,480 --> 00:54:53,480
And Robert, I know that I always remember that he told me,

963
00:54:53,480 --> 00:55:00,480
most people sacrifice their dreams for immediate satisfaction.

964
00:55:00,480 --> 00:55:05,480
Sacrificing your dreams for immediate satisfaction is not a very productive plan.

965
00:55:05,480 --> 00:55:07,480
We return after a very expensive price.

966
00:55:07,480 --> 00:55:08,480
Very expensive.

967
00:55:08,480 --> 00:55:09,480
We return.

968
00:55:09,480 --> 00:55:34,480
You want to start making your podcast grow?

969
00:55:34,480 --> 00:55:36,680
Hosted and distributed by RSS.com.

970
00:55:38,380 --> 00:55:40,180
RSS.com.

971
00:55:40,180 --> 00:55:41,880
Make podcasts easily.

972
00:55:44,580 --> 00:55:45,780
Get pumped.

973
00:55:45,780 --> 00:55:49,780
Follow the conversation with Marco Antonio Regil in Formula.

974
00:55:49,780 --> 00:55:53,980
Dear money, dear money, if I don't talk about you, dear money, it's very expensive.

975
00:55:53,980 --> 00:55:56,180
Having you as a taboo topic is very expensive.

976
00:55:56,180 --> 00:55:58,680
To think money is the devil is very expensive.

977
00:55:58,680 --> 00:56:02,880
To think that all the rich are bad and go to hell is very expensive.

978
00:56:02,880 --> 00:56:08,180
There are a lot of limiting thoughts that separate us and hurt us.

979
00:56:08,180 --> 00:56:10,380
They separate us from our dreams.

980
00:56:10,380 --> 00:56:15,480
Nobody can make their dreams come true if they don't have at least a basic financial education

981
00:56:15,480 --> 00:56:18,680
and a healthy emotional relationship with money.

982
00:56:18,680 --> 00:56:20,680
And that's what we're talking about today with our experts.

983
00:56:20,680 --> 00:56:23,480
It's the last segment, we're going to conclusions.

984
00:56:23,480 --> 00:56:28,380
And well, we have with us Duidina Cordoba Delgado, the International Business Agency,

985
00:56:28,380 --> 00:56:32,880
Marina Armendares, neuropsychologist, COACH CO of Capitel.com.mx,

986
00:56:32,880 --> 00:56:36,380
and our guest expert from Costa Rica, the good Steven Zamora,

987
00:56:36,380 --> 00:56:39,880
who is there with a superset and with some books behind him,

988
00:56:39,880 --> 00:56:45,180
who are here saying, what good books he brings, we have to read them all.

989
00:56:45,180 --> 00:56:47,080
Just read half of them, there's a lot more.

990
00:56:47,080 --> 00:56:49,280
Of course, it's your financial sanctuary.

991
00:56:49,280 --> 00:56:52,880
Read good books, listen to good podcasts, invest your time

992
00:56:52,880 --> 00:56:57,380
in not only reading the show section, but also reading the finance section in the newspaper.

993
00:56:57,380 --> 00:57:01,280
Well, but let's see, something that Duidina told me in the cut,

994
00:57:01,280 --> 00:57:04,880
I want to talk about the months without interest, to conclude.

995
00:57:04,880 --> 00:57:07,180
Months without interest, what comes to your mind, Amilia?

996
00:57:07,180 --> 00:57:12,280
Let's see, I love them, honestly, because I think the key is in what Steven was saying a while ago.

997
00:57:12,280 --> 00:57:18,280
Order, capacity to pay, flow of cash, what we were talking about at the beginning.

998
00:57:18,280 --> 00:57:19,980
What is the flow of cash?

999
00:57:19,980 --> 00:57:23,780
I love to call it the money of opportunities because you have three opportunities.

1000
00:57:23,780 --> 00:57:27,980
To save it, to invest it, to spend it on whatever you want or to borrow it.

1001
00:57:27,980 --> 00:57:29,580
Capacity to pay.

1002
00:57:29,580 --> 00:57:33,380
So I like it because when you have order and you know your capacity to pay,

1003
00:57:33,380 --> 00:57:36,280
you can make decisions of months without interest where you say,

1004
00:57:36,280 --> 00:57:39,280
maybe I'm not going to get out of capital right now,

1005
00:57:39,280 --> 00:57:41,980
I'm going to leave my money invested, let it give me performance,

1006
00:57:41,980 --> 00:57:43,380
while I'm paying little by little.

1007
00:57:43,380 --> 00:57:45,480
But the key to that is order.

1008
00:57:45,480 --> 00:57:47,880
I love it, for all this that we've talked about,

1009
00:57:47,880 --> 00:57:51,780
I think I also went through a process of healing my relationship with money,

1010
00:57:51,780 --> 00:57:55,380
I came from a family issue that was dragging this,

1011
00:57:55,380 --> 00:57:57,580
thanks to the sky it didn't fall again.

1012
00:57:57,580 --> 00:58:00,780
And I think that thanks to that I healed and found order, I like them.

1013
00:58:00,780 --> 00:58:04,580
But I've seen in the personal finance mentorships that I give,

1014
00:58:04,580 --> 00:58:08,280
that it's the bad of the middle-high class of this country.

1015
00:58:08,280 --> 00:58:10,780
They earn very well, sometimes we think we earn very well,

1016
00:58:10,780 --> 00:58:13,680
no, they earn very well, but they are accumulated,

1017
00:58:13,680 --> 00:58:17,880
they have a dirty clothes cost of months without interest.

1018
00:58:17,880 --> 00:58:22,380
That if gifts, that if I remember very well that in a class a student told me

1019
00:58:22,380 --> 00:58:26,980
that her aunt paid Christmas gifts to 13 months without interest,

1020
00:58:26,980 --> 00:58:28,180
this one of 12 plus 1.

1021
00:58:28,180 --> 00:58:30,280
She kept paying them the following year.

1022
00:58:30,280 --> 00:58:31,680
When we saw this topic she told me,

1023
00:58:31,680 --> 00:58:33,380
Miss, now I'm already down to 20,

1024
00:58:33,380 --> 00:58:36,180
my aunt keeps paying the gifts of that year, right?

1025
00:58:36,180 --> 00:58:38,280
Of course, no, because they are not only without interest,

1026
00:58:38,280 --> 00:58:39,980
she starts paying in January,

1027
00:58:39,980 --> 00:58:42,880
she starts paying in September and without interest.

1028
00:58:42,880 --> 00:58:47,080
Now, as you say, if that money that she was going to spend in cash,

1029
00:58:47,080 --> 00:58:50,680
I put it to work and it gives me interest and here I have no interest,

1030
00:58:50,680 --> 00:58:52,380
well, I already took the money out.

1031
00:58:52,380 --> 00:58:54,580
Totally, yes, it's good also to travel, right?

1032
00:58:54,580 --> 00:58:57,780
Before traveling, if before traveling you pay your flight

1033
00:58:57,780 --> 00:59:00,280
and you go to months without interest, you go already without debt.

1034
00:59:00,280 --> 00:59:02,380
But you don't have to spend that money on anything else.

1035
00:59:02,380 --> 00:59:04,280
You have to spend, you have to pay, you have to pay.

1036
00:59:04,280 --> 00:59:05,880
And you have to put the money to work.

1037
00:59:05,880 --> 00:59:07,980
Of course, that's another topic, you don't have to do it at the same time.

1038
00:59:07,980 --> 00:59:09,980
And that's another topic and we'll talk about it in another program.

1039
00:59:09,980 --> 00:59:12,880
Where can we find you Ludivina Cordoba Delgado Cancun?

1040
00:59:12,880 --> 00:59:15,180
Of course, in Cancun of course,

1041
00:59:15,180 --> 00:59:18,380
and in Arroba Finanzas con Ludi, we are about to release a web page,

1042
00:59:18,380 --> 00:59:20,380
in Instagram, Arroba Finanzas con Ludi,

1043
00:59:20,380 --> 00:59:24,280
the TEDx, El Dinero es Poder, there we talk about finances with gender perspective.

1044
00:59:24,280 --> 00:59:26,280
This topic is also very, very important.

1045
00:59:26,280 --> 00:59:29,080
I invite you to see it and well, nothing for now, there we are.

1046
00:59:29,080 --> 00:59:32,480
We have already made a commitment, next week they will return, next Wednesday.

1047
00:59:32,480 --> 00:59:34,280
On Wednesdays we talk about money.

1048
00:59:34,280 --> 00:59:38,080
They will return next week and we will talk about the gender,

1049
00:59:38,080 --> 00:59:41,980
about women and money, men and money, women and money.

1050
00:59:41,980 --> 00:59:45,280
A very interesting topic, we will talk about it next week.

1051
00:59:45,280 --> 00:59:48,480
But now, to close, my dear Marina Armendares,

1052
00:59:48,480 --> 00:59:53,580
that topic of postponing happiness.

1053
00:59:53,580 --> 00:59:56,680
Is it worth postponing happiness?

1054
00:59:56,680 --> 00:59:59,480
But I want to be happy today, not tomorrow.

1055
00:59:59,480 --> 01:00:03,180
I'm just going to make this distinction that he just made,

1056
01:00:03,180 --> 01:00:06,480
of pleasure versus happiness.

1057
01:00:06,480 --> 01:00:12,480
Posturing pleasure is one of the, the capacity to postpone pleasure

1058
01:00:12,480 --> 01:00:15,280
is one of the skills or characteristics

1059
01:00:15,280 --> 01:00:17,580
that have been more consistently linked to success,

1060
01:00:17,580 --> 01:00:18,880
through a bunch of studies.

1061
01:00:18,880 --> 01:00:20,080
Posturing pleasure.

1062
01:00:20,080 --> 01:00:22,980
And maybe some of you saw, a long time ago there was a viral video

1063
01:00:22,980 --> 01:00:25,380
of some children who put a bad boy in front of them and they said,

1064
01:00:25,380 --> 01:00:28,780
if you don't eat it, when I come back I'll give you two.

1065
01:00:28,780 --> 01:00:33,580
And there was a trend on Instagram and Facebook recently,

1066
01:00:33,580 --> 01:00:35,480
where you gave a child a toy and you said,

1067
01:00:35,480 --> 01:00:38,380
it's yours, but you have to wait for me to come back to open it.

1068
01:00:38,380 --> 01:00:40,280
If you open it before I come back, then...

1069
01:00:40,280 --> 01:00:41,580
It's a discipline.

1070
01:00:41,580 --> 01:00:43,680
So, we see it with children and this,

1071
01:00:43,680 --> 01:00:46,780
well, as you see it with children, you see it in adulthood.

1072
01:00:46,780 --> 01:00:49,480
And then, the topic is, do you want to have successful finances?

1073
01:00:49,480 --> 01:00:51,980
And be careful, having successful finances is not rich,

1074
01:00:51,980 --> 01:00:55,980
it's living the life you want through your finances.

1075
01:00:55,980 --> 01:01:00,380
One of the skills that must be developed is postponing pleasure.

1076
01:01:00,380 --> 01:01:03,680
Because postponing pleasure equals long-term happiness.

1077
01:01:03,680 --> 01:01:07,180
So, if I can postpone pleasure today,

1078
01:01:07,180 --> 01:01:09,980
not buying something for what I can't afford,

1079
01:01:09,980 --> 01:01:14,280
I'll be happier, sustainably happier.

1080
01:01:14,280 --> 01:01:18,380
So, when you think about your finances,

1081
01:01:18,380 --> 01:01:20,580
when you think about assuming debt,

1082
01:01:20,580 --> 01:01:24,280
remember that the person who is assuming the debt is me today,

1083
01:01:24,280 --> 01:01:26,680
but also me tomorrow and me in the past.

1084
01:01:26,680 --> 01:01:29,580
And then, by integrating all my I's,

1085
01:01:29,580 --> 01:01:32,680
I can postpone pleasure today to be happy through my long-term money.

1086
01:01:32,680 --> 01:01:35,380
And that God will provide, you will be the one begging God.

1087
01:01:35,380 --> 01:01:35,880
Exactly.

1088
01:01:35,880 --> 01:01:37,580
But you will be the one paying that debt.

1089
01:01:37,580 --> 01:01:38,380
Totally.

1090
01:01:38,380 --> 01:01:39,880
That debt.

1091
01:01:39,880 --> 01:01:42,680
I think it's excellent. Where can we find you, Marina?

1092
01:01:42,680 --> 01:01:48,180
You can find me in Capitelle.com.mx,

1093
01:01:48,180 --> 01:01:52,780
my social networks are marinaarfo and capitelmx.

1094
01:01:52,780 --> 01:01:55,580
Okay. And Evelín Hernández from Puebla, Puebla,

1095
01:01:55,580 --> 01:01:58,580
was asking, you mentioned it a while ago,

1096
01:01:58,580 --> 01:02:01,280
if this rule of 50-30-20 was good

1097
01:02:01,280 --> 01:02:04,580
or if there are better methodologies to create a budget.

1098
01:02:04,580 --> 01:02:06,980
We see that 50% is?

1099
01:02:06,980 --> 01:02:07,880
Needs.

1100
01:02:07,880 --> 01:02:08,480
What you need.

1101
01:02:08,480 --> 01:02:09,180
Your daily life.

1102
01:02:09,180 --> 01:02:10,980
Need. What I need.

1103
01:02:10,980 --> 01:02:12,880
Then 30% is?

1104
01:02:12,880 --> 01:02:13,880
Your wishes.

1105
01:02:13,880 --> 01:02:14,980
Once.

1106
01:02:14,980 --> 01:02:17,580
Being happy through your money is important.

1107
01:02:17,580 --> 01:02:20,180
You won't get along with someone you don't like.

1108
01:02:20,180 --> 01:02:21,280
With something you don't like.

1109
01:02:21,280 --> 01:02:22,280
And 20%?

1110
01:02:22,280 --> 01:02:23,880
Your future.

1111
01:02:23,880 --> 01:02:26,580
What I save and invest, basically.

1112
01:02:26,580 --> 01:02:26,980
Exactly.

1113
01:02:26,980 --> 01:02:29,380
So, do you recommend 50-30-20?

1114
01:02:29,380 --> 01:02:33,080
In parentheses. And we were talking about it outside of the ERE.

1115
01:02:33,080 --> 01:02:35,580
They call it a rule, but I see it as a guide,

1116
01:02:35,580 --> 01:02:37,580
because I have clients in inventories

1117
01:02:37,580 --> 01:02:40,780
that 85% of their income goes to needs.

1118
01:02:40,780 --> 01:02:43,680
For low wages, for inflation, prices,

1119
01:02:43,680 --> 01:02:45,580
the housing market, whatever you want.

1120
01:02:45,580 --> 01:02:48,780
So, it's a guide that will help you realize

1121
01:02:48,780 --> 01:02:50,080
what you're spending more on,

1122
01:02:50,080 --> 01:02:52,080
but it's not a square rule.

1123
01:02:52,080 --> 01:02:53,280
I understand. Very good.

1124
01:02:53,280 --> 01:02:54,180
We're running out of time.

1125
01:02:54,180 --> 01:02:55,380
We need to say goodbye to Steven.

1126
01:02:55,380 --> 01:02:57,380
Hold on to the comment for the next program.

1127
01:02:57,380 --> 01:02:58,480
Steven Zamora.

1128
01:02:58,480 --> 01:03:00,480
Amigo, you're a teacher,

1129
01:03:00,480 --> 01:03:02,680
and I want you to give us your comment

1130
01:03:02,680 --> 01:03:06,380
on the importance of investing our money in educating us.

1131
01:03:06,380 --> 01:03:07,280
And with that, we close.

1132
01:03:07,280 --> 01:03:09,280
We have a minute ahead, Amigo.

1133
01:03:09,280 --> 01:03:11,480
Basically, as I explained to my students,

1134
01:03:11,480 --> 01:03:13,080
you have to put money in your head

1135
01:03:13,080 --> 01:03:15,280
so that your head can put money in your bag,

1136
01:03:15,280 --> 01:03:18,280
but also so that they know how to manage what they have.

1137
01:03:18,280 --> 01:03:19,880
This is even biblical for those who believe,

1138
01:03:19,880 --> 01:03:21,780
but you have to know how to manage little

1139
01:03:21,780 --> 01:03:23,380
to manage a lot.

1140
01:03:23,380 --> 01:03:25,680
And if you don't look for tools,

1141
01:03:25,680 --> 01:03:27,280
things will be very difficult.

1142
01:03:27,280 --> 01:03:29,680
I say a phrase that is a bit difficult or controversial,

1143
01:03:29,680 --> 01:03:32,080
but a motivated brute is very dangerous.

1144
01:03:32,080 --> 01:03:34,080
They need tools.

1145
01:03:34,080 --> 01:03:36,580
A motivated brute is very dangerous.

1146
01:03:36,580 --> 01:03:38,280
Yes, they need tools.

1147
01:03:38,280 --> 01:03:40,480
Not only motivation, not only motivational audio.

1148
01:03:40,480 --> 01:03:42,680
They need tools and tools

1149
01:03:42,680 --> 01:03:44,480
so that they can create a work plan,

1150
01:03:44,480 --> 01:03:47,480
a map that they can follow with motivational audio.

1151
01:03:47,480 --> 01:03:48,880
It's very difficult to get far away from the best.

1152
01:03:48,880 --> 01:03:50,680
A work plan, a structure,

1153
01:03:50,680 --> 01:03:52,080
and a system to follow.

1154
01:03:52,080 --> 01:03:53,380
That's why financial education is important.

1155
01:03:53,380 --> 01:03:55,380
Of course, and education gives you processes,

1156
01:03:55,380 --> 01:03:57,780
it gives you steps, it gives you repeatable,

1157
01:03:57,780 --> 01:04:00,080
achievable processes so that you can learn.

1158
01:04:00,080 --> 01:04:01,680
I have nothing against motivators.

1159
01:04:01,680 --> 01:04:04,180
We all have many friends who are motivators,

1160
01:04:04,180 --> 01:04:07,180
but there are people who are taking them to motivation events

1161
01:04:07,180 --> 01:04:09,680
and asking God for it, and they don't educate.

1162
01:04:09,680 --> 01:04:12,280
And God gave you the head so that you can educate.

1163
01:04:12,280 --> 01:04:14,680
And God up there is like sticking to the head

1164
01:04:14,680 --> 01:04:17,180
watching the barbarity we do.

1165
01:04:17,180 --> 01:04:18,980
Educate yourself. Speaking of education,

1166
01:04:18,980 --> 01:04:20,980
you have courses, friend, where you can find

1167
01:04:20,980 --> 01:04:22,280
the people who want to educate with you.

1168
01:04:22,280 --> 01:04:25,580
On our Instagram, arroaentranadorfinanciero.cr,

1169
01:04:25,580 --> 01:04:27,880
put my name on Google and I'll even get you in the soup.

1170
01:04:27,880 --> 01:04:30,180
That's how it is today.

1171
01:04:30,180 --> 01:04:33,080
On any social network, YouTube, Instagram, wherever you want.

1172
01:04:33,080 --> 01:04:34,780
Steven Zamora, thank you very much, friend.

1173
01:04:34,780 --> 01:04:36,580
Thank you all three. We'll keep talking.

1174
01:04:36,580 --> 01:04:39,280
Remember that every week we dedicate one day of the week

1175
01:04:39,280 --> 01:04:41,480
to talk about our dear money.

1176
01:04:41,480 --> 01:04:44,180
Tomorrow we'll be talking about longevity.

1177
01:04:44,180 --> 01:04:47,280
Dr. Samar has been coming since she traveled from Miami

1178
01:04:47,280 --> 01:04:49,580
to be with us, and she's an expert in longevity

1179
01:04:49,580 --> 01:04:52,680
and she's an expert in the blue areas of the world.

1180
01:04:52,680 --> 01:04:55,280
And she'll tell us how to live in the blue areas

1181
01:04:55,280 --> 01:04:58,780
and how to get to 60, 70, 80, 90, even 100.

1182
01:04:58,780 --> 01:05:00,480
But with health and happiness.

1183
01:05:00,480 --> 01:05:02,580
So tomorrow don't miss that program.

1184
01:05:02,580 --> 01:05:05,080
Stay with Daniel D'Iturbide on Radio Fórmula

1185
01:05:05,080 --> 01:05:07,180
and find me as arroa.marcoantonioirajil

1186
01:05:07,180 --> 01:05:08,380
on all social networks.

1187
01:05:08,380 --> 01:05:09,580
See you tomorrow.

1188
01:05:09,580 --> 01:05:10,880
Thank you. Have a good one.

1189
01:05:10,880 --> 01:05:13,080
Reach your maximum potential.

1190
01:05:13,080 --> 01:05:18,580
Marco Antonioirajil in Fórmula

1191
01:05:18,580 --> 01:05:42,080
This was a production of Fórmula Group.

1192
01:05:48,580 --> 01:05:51,080
Any unnecessary void were prohibited by law.

1193
01:05:51,080 --> 01:05:53,080
Eighteen plus terms and conditions apply.

1194
01:05:53,080 --> 01:06:20,080
Visit the FDRC website for details.