Live Below Your Means: The Key to Lasting Wealth
Earn Your Leisure
EYL Network
4.8 • 7.8K Ratings
🗓️ 10 May 2025
⏱️ 9 minutes
🧾️ Download transcript
Summary
In this insightful clip from Money Moves, hosts Rashad Bilal, Troy Millings, and Ian Dunlap break down why living below your means is the ultimate wealth strategy—and why modesty might be your greatest financial asset. They discuss money traps that can derail your financial progress, the true cost of home ownership, and why that flashy car or expensive watch may not be worth the investment.
Rashad revisits the importance of financial organization and planning for your family’s future, urging us all to consider what would happen if the unexpected occurred. The trio doesn’t hold back as they share personal stories, from passing up on luxury cars, to resisting peer pressure to “flex,” and putting family first with smart estate planning.
Ian talks about the discipline it takes to maintain a modest lifestyle, even when tempted by the trappings of wealth, and Troy emphasizes building a solid financial legacy over superficial purchases. The hosts also challenge common financial myths—like always buying, not leasing, a car—and share their honest takes on what truly matters for financial security.
If you’re looking to build real wealth, avoid costly mistakes, and invest in your future, this clip is packed with practical tips and authentic conversation you won’t want to miss.
**Key Takeaways:**
- The importance of living BELOW your means and what it actually looks like in practice
- Why modesty can be a financial superpower, from homes to cars to jewelry
- How resisting societal pressures builds wealth over time
- Personal stories about maintaining discipline and ensuring your family’s financial safety
- Debunking myths around homeownership, big purchases, and “buying vs leasing”
- How to organize your finances and plan ahead with estate strategies
If you’re serious about securing your financial future and creating real generational wealth, make sure to watch, like, and subscribe for more practical money advice from the Money Moves crew!
**#FinancialFreedom #MoneyMoves #WealthBuilding #LiveBelowYourMeans #RashadBilal #TroyMillings #IanDunlap #FinancialLiteracy #MoneyTips #Investing #GenerationalWealth #ModestLiving #FinancialPlanning #SmartMoney**
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Transcript
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| 0:00.0 | You gotta think about if you died today, what would happen? |
| 0:04.0 | At least every every couple of work. |
| 0:06.0 | That's important. |
| 0:07.0 | That's important because most of the time, and even for me, I had to realize that. |
| 0:12.0 | Like, most of us, if we died today, it's not organized enough. |
| 0:19.0 | And that's, that's a problem. |
| 0:21.3 | That's a big bulletproof. |
| 0:22.3 | You got to think if I died today. |
| 0:23.9 | And you got to avoid money traps. |
| 0:27.8 | And I've talked about this last week, but I'm going to double down on this because I'm, you know, |
| 0:32.8 | helping people is more important than what critics have to say. |
| 0:35.9 | Buying a home is extremely important, |
| 0:37.8 | but it is also can be a money trap. |
| 0:40.8 | It can be a money pit. |
| 0:41.8 | It could be a money pit. That's unfortunate situation because once you're in it, you can't |
| 0:46.0 | really turn around. But buy a home, like, if you can, if you can get approved for a million dollar mortgage buy a condo for 250 |
| 0:57.7 | thank me later hello thank me later i go through it so you wouldn't do it after you might |
| 1:03.7 | you might not have the same level of okay i'm gonna bring this girl over and she thank me later if she wants you she |
| 1:12.2 | wants you regardless of what you buy you're gonna build it together by lower yes then what you |
| 1:19.8 | yep and what you get approved for thank me later yeah because it's more beneficial to have money working for you. |
| 1:32.2 | For sure. |
| 1:33.3 | Then you actually putting money into something that potentially down the line, |
... |
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