Ready to test your financial savvy? Dive into "Money Mythbusters," an electrifying game show that challenges everything you think you know about personal finance, debt, and spending.
Join us for an interactive experience where audience participation is key! We explore how money controls our lives and uncover the truths behind common financial misconceptions. Discover strategies for spending wisely, investing in your community, and the power of pivoting your approach to wealth.
This engaging segment at Essence Festival features courageous volunteers ready to prove their money knowledge. Learn how to turn your passions into profit and gain inspiration to be more, do more, and earn more. Get ready for a fun and educational showdown where bragging rights are on the line!
#MoneyMyths #PersonalFinance #EssenceFestival #FinancialLiteracy
Join us for an interactive experience where audience participation is key! We explore how money controls our lives and uncover the truths behind common financial misconceptions. Discover strategies for spending wisely, investing in your community, and the power of pivoting your approach to wealth.
This engaging segment at Essence Festival features courageous volunteers ready to prove their money knowledge. Learn how to turn your passions into profit and gain inspiration to be more, do more, and earn more. Get ready for a fun and educational showdown where bragging rights are on the line!
#MoneyMyths #PersonalFinance #EssenceFestival #FinancialLiteracy
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FunTranscript
00:00Hello, hello, hello.
00:04Well, we're about to do something very unique.
00:06We are having an actual game show.
00:09We want to talk about money.
00:11We're going to talk about debt.
00:12We're going to talk about all the things that control us
00:14and our ideas around money.
00:15So I'm going to need a lot of crowd participation.
00:18I know it's very loud.
00:20It's a lot of things happening.
00:21But you get bragging rights and say,
00:23you know what to do with your money.
00:24You know what money is all about.
00:26So we're going to need a few volunteers.
00:28So who wants to volunteer?
00:30Don't all volunteer once.
00:32Is there one?
00:33Oh, there's another.
00:34I feel like I'm at an auction.
00:35Okay, so we have some volunteers ready
00:37to show how much you know about your money
00:39and what you're willing to do with your money, right?
00:41So I'm going to bring up Casey.
00:44Okay, okay.
00:46We're going to keep going.
00:47So today we're just going to talk about
00:49when you get your money, what you're going to do with it,
00:51how you deal with debt, how you spend your money.
00:54And every year that I come to Essence,
00:56I make a very valued effort to spend my money wisely.
00:59So even today, I went to different vendors
01:02and say, how can I spend my money to get back
01:04into not just the economy, our economy?
01:07And so what Essence has been for me
01:08is a way for me to really just invest in my own people.
01:12So even today, instead of me wearing any designer,
01:15I decided to wear my own clothes.
01:17So I'm a painter.
01:18But what I started doing was,
01:19when I was not able to sell paintings,
01:21I learned how to turn my artwork into actual fabric.
01:25And so when you think about pivoting
01:27and changing who you are and what you do,
01:29you can't just do one thing, right?
01:31And so that's the important thing.
01:32By coming to Essence Festival,
01:34you are actually inspired to do more and to be more.
01:37And so today, we're going to talk about
01:39the power of pivoting,
01:41but also the power of using your money to do great things.
01:43So I got my volunteers ready to do some great things.
01:47So we are going to bring up Casey shortly.
01:50Oh, she's ready.
01:51All right, Casey.
01:52You ready to get them started?
01:54Okay, she ready.
01:55Let's go.
01:57Hey, y'all.
01:57Hey.
01:59I need a lot of energy, y'all.
02:01We actually have a game show that's about to take place.
02:04Yes.
02:05All right.
02:06And we're...
02:06No, we have two volunteers ready for you.
02:08Yay.
02:09Okay.
02:10So this game show is called Money Mythbusters.
02:13Okay.
02:14And we need 10 people from the audience
02:16to come up here for some bragging rights.
02:19It is very, very easy.
02:21I promise you.
02:21This is stuff you know, like the back of your hand.
02:24So the first two,
02:25are you already on the side of the stage?
02:26Uh-oh, uh-oh, uh-oh.
02:27Beautiful.
02:28I need two more right here.
02:30Come on.
02:31We have some competitive folks.
02:32Another one right here.
02:33We got another one with it.
02:34Uh-oh.
02:34No.
02:35Right there.
02:36All right.
02:36Two more.
02:36I need four more.
02:37I need four more.
02:39Line it on up.
02:41Line it on up.
02:41Come on.
02:42Come on.
02:42Very easy.
02:43Come on, sis.
02:45We have...
02:45Oh, come on.
02:46Two more.
02:47Two more.
02:48Okay.
02:49Line it up and you are all going to get a paddle.
02:51This is a game show called Money Mythbusters.
02:55This is the stuff we know, like the back of our hands.
02:58One, two, three, four, five, six, seven, eight, nine, ten.
03:01Beautiful.
03:02Y'all come down a little more.
03:0311 for good luck.
03:04All right.
03:04Come on.
03:04A little more.
03:05Does that enough?
03:06Does that enough?
03:06Okay.
03:07Yep.
03:07We got it done.
03:08First it didn't look like it was going to happen.
03:09Now it's overflow.
03:10Look at that.
03:12All right.
03:13So let's give a round of applause for our courageous volunteers, y'all.
03:18Y'all can do better than that.
03:20Come on now.
03:20It's Saturday.
03:21Fourth of July.
03:22Exactly.
03:23Exactly.
03:24All right.
03:24So before we get into the themes, I want to go down the line and allow all of these
03:29amazing volunteers to introduce themselves.
03:32Let us know your first name and the city that you're repping.
03:35Nia from New Orleans.
03:36Come on, Nola.
03:38Okay.
03:39My name is Jerry and I'm repping Nola, but that 337 Lafayette.
03:43Okay.
03:44Specifically.
03:44All right.
03:45Let's see who's going to take the prize today.
03:47My name is Sal.
03:48I'm representing Jersey, Newark, New Jersey.
03:50Okay, Jersey.
03:51All right.
03:52All right.
03:52My name is Colby, representing New Orleans, Salmon Walk.
03:56Nola is heavy in the building.
03:59Mahalia from Baltimore.
04:01Come on, Baltimore.
04:02Got love.
04:03Anthony from Baltimore.
04:04Baltimore.
04:05Heavy on the Baltimore.
04:07Via from Chicago by way of Atlanta.
04:09Chicago by way of Atlanta.
04:11Yeah.
04:12Lila, North Memphis.
04:15North Memphis.
04:17Okay.
04:18Dr. Latonya Butts, Millersville, Georgia.
04:20What part of Georgia?
04:21Millersville, Georgia.
04:21Milledgeville, Georgia.
04:23The South is in here with something to say.
04:25Angelica from Mobile, Alabama.
04:28Mobile, Alabama.
04:29I live in Huntsville, Alabama.
04:31No bias.
04:32No bias.
04:33It's all fair.
04:34I promise.
04:35Okay.
04:35So, this game show is called Money Mythbusters.
04:39We are going to let these audience members hold their paddles down while I ask a question.
04:45If they think it is true, they will hold the paddle up, facing you, saying true.
04:50If they think the answer is false, they will flip it to show false.
04:54You all watch them to make sure I don't miss anybody that gets it wrong, okay?
04:59At the beginning of each question, you must hold your paddle down to your right side.
05:04No cheating.
05:05Down on your right side.
05:07Down on your right side.
05:10Down on your right side.
05:12Beautiful.
05:12When I ask the question, you will know that I'm done because I'm going to say true or false.
05:17Only when I say true or false do you lift your paddle up.
05:22Y'all watch them, okay?
05:25Everybody that gets a question right, you stay on the stage.
05:31If you get the question wrong, you have to exit the stage, okay?
05:37We duking it out.
05:38And this is only round one.
05:39There will be a round two because the champs are going to stay on stage to duke it out with
05:43the winners of round two.
05:45All right?
05:46Y'all ready?
05:47Does that make sense to y'all?
05:49If y'all see somebody that I missed that flipped their paddle, tell me, okay?
05:54All right.
05:55All right.
05:55So we're about to do the first question, but I need your paddles down by your side so that nobody
06:00cheats down by your side.
06:03All right.
06:05The question is done when I say the words true or false.
06:08Hold it up quickly.
06:09All right.
06:10First question.
06:11True or false?
06:14An LLC stands for Limited Liability Company.
06:19True or false?
06:22All right.
06:22Everybody has it up.
06:24The answer is true.
06:28Everybody that put false, head on off.
06:31It's okay.
06:32You can always try again in a second.
06:34You can always try again in a second.
06:36I'm going to repeat it.
06:38An LLC stands for Limited Liability Company.
06:42Y'all give it a round of applause for those who came up here and did that thing.
06:47All right.
06:49Paddles by your sides.
06:50Paddles by your sides.
06:51Paddles by your side.
06:52Okay.
06:52Watch them, y'all.
06:54All right.
06:54Question number two.
06:57True or false?
06:59A checking account is mainly designed to help you spend and pay your bills.
07:16True or false?
07:18I love the mix.
07:19The answer is true.
07:22They want you to use it to be able to easily just spend money.
07:26You can, yeah, but I'm sorry.
07:28You can always come back.
07:29Come back.
07:30Come back right after.
07:31We're going to have so many rounds.
07:33All right.
07:36Next.
07:37Next question.
07:42A savings account is usually intended for money you don't need to spend every day.
07:50True or false?
07:53Everybody got it right.
07:54Give them a round of applause.
07:55I told y'all y'all got this.
07:58All right.
07:58Money myth busters.
08:00True or false?
08:02A credit card uses your own money that's already in your bank account.
08:07True or false?
08:08Watch them, y'all.
08:09Watch them.
08:10You got to put it up.
08:13A credit card uses your own money that's already in your bank account.
08:17True or false?
08:19They all got it right.
08:21Give them a round of applause.
08:24Okay.
08:25True or false?
08:28And I see the front row giving them the answers.
08:30Y'all know y'all stuff.
08:31I'm not mad at you.
08:32Y'all know y'all stuff.
08:33That's good.
08:33I'm impressed.
08:34Y'all got to be up here on the second round.
08:37All right.
08:38Cash app.
08:39Cash app.
08:41Offers a debit card that lets you spend the money in your cash app balance.
08:46True or false?
08:48Come on.
08:49Y'all better do it.
08:50That's correct.
08:52Yeah, yeah, yeah.
08:52Don't get light on the applause.
08:54They're killing it.
08:56All right.
08:56True or false?
09:00Venmo only allows you to send money.
09:02You cannot receive money.
09:04True or false?
09:07Oh, you taking too long, baby.
09:08You about to get disqualified.
09:09All right.
09:09I'm going to repeat the question.
09:10I'm going to say the answer.
09:12Venmo only allows you to send money.
09:14You cannot receive money.
09:16That is false.
09:18You can receive money on Venmo.
09:20FinTech is a powerful thing.
09:22We love it.
09:23We love it.
09:23Financial technology.
09:25All right.
09:25This is the last question.
09:27Whoever is still standing after this gets to stand in the championship ring while another
09:34group goes and they'll duel it out in the end.
09:36Y'all doing good.
09:40True or false?
09:42My friend is closing her eyes.
09:43I know that's right.
09:44I know that's right.
09:46True or false?
09:48A budget helps you plan how you'll spend and save your money.
09:54True or false?
09:56These girls are good.
09:58That is correct.
09:59A budget helps you plan how you spend and save your money.
10:03I got to do another one.
10:04I'm sorry.
10:05Y'all better than I thought.
10:07True or false?
10:09You are not allowed to view your official credit score.
10:14True?
10:15Your official credit score.
10:17The official one.
10:18You got to answer.
10:19You are not allowed to view your official credit score.
10:24Y'all.
10:26Y'all got it right.
10:27They got it right.
10:27They got it right.
10:28They got it right.
10:28They got it right.
10:28Yeah, yeah, yeah.
10:30All right.
10:30I'm not going to give up.
10:30I'm not going to give up.
10:31Okay.
10:32Okay.
10:33True or false?
10:35Direct deposit.
10:38Direct deposit means your paycheck can go directly into your bank account.
10:43Is it the bank account?
10:45True or false?
10:48Okay.
10:49I'm going to go to my hard cards to eliminate somebody.
10:52Y'all ready?
10:54That was right.
10:54That was right.
10:58Okay.
11:00True or false?
11:01An EIN, which means employer identification number.
11:06An EIN, not an SSN.
11:09We're talking about the EIN, y'all.
11:12An EIN is like a social security number for many businesses.
11:20All right.
11:21All right.
11:21All right.
11:22This is good.
11:23This is good.
11:24And this hopefully demystifies because the name of this game is called money myth busters.
11:29Sometimes folk don't use our language in our communities.
11:32They don't say what big mama said.
11:34But we already know this stuff, y'all.
11:35A lot of the trauma that we experience is imposter syndrome.
11:38But we didn't call ourselves impostors.
11:40They called us that.
11:41Hopefully, they showed you that we know our stuff.
11:45True or false, owning one share of stock means you own a tiny piece of that company.
11:55True or false, true or false?
11:59Okay.
12:01They got it right.
12:01I love this.
12:03They got it right.
12:05Okay.
12:06True or false?
12:08This is the last question.
12:10I noticed the last question.
12:11I noticed the last question now.
12:11Ain't no way.
12:14Cryptocurrency is backed by the U.S. government in the same way that the U.S. dollar is.
12:20True or false, true or false?
12:30I'm so sorry to report that y'all are wrong.
12:38My girl got it.
12:39Yeah.
12:40This y'all too, not all of y'all.
12:43The cryptocurrency tokens are not backed by the U.S. government, the same with the U.S. dollars.
12:48But thank y'all so much.
12:49We're going to have enough.
12:50Y'all killed it.
12:51We know this stuff, y'all.
12:53These are money mythbusters.
12:55We called in it.
12:56All right.
12:57So give them your name one more time and tell them where you repping.
13:00Nia New Orleans.
13:01Nia New Orleans.
13:02Nia New Orleans, I need you to stand over there in the money championship square.
13:07We're going to have another round because Nia about to duel it out with the best on the other side.
13:12I need 10 more volunteers.
13:14Come on, Lizzie.
13:15Are you right here?
13:16That's three.
13:16Come on, four, five, six, seven.
13:21Yes.
13:21Got you, brother.
13:22Come on up here.
13:24Eight.
13:25I need two more.
13:27Nine, 10.
13:29I counted you, sis.
13:31You were just helping your friend.
13:33One more.
13:34All right.
13:34I'm going to give you paddles on the side.
13:35Yes, babe.
13:36You can come.
13:36Coral dress.
13:37Yep.
13:38All right.
13:39As they come up, I'm going to repeat the rules.
13:43This game show is called Money Mythbusters.
13:46Money Mythbusters.
13:49And it is testing our knowledge around money.
13:53And we've actually seen that people are pretty cold at it, even the audience.
13:57So the winners of this round is going to take Nia head to head, and then we'll have our final
14:02winner.
14:04Oh, we need your paddle.
14:05Nia was like, this is mine.
14:07All right.
14:08Nia prayed over that paddle.
14:10All right.
14:12So let's get into it.
14:14Let me go back.
14:15I'm not going to be.
14:17I'm going to go back to my easier questions.
14:20Yeah, I'm going to give you all some easy.
14:21All right.
14:23True.
14:24Wait.
14:24Paddles to your side, baby.
14:26Because y'all can't flip at the last minute.
14:28All right.
14:29Beautiful.
14:30All right.
14:30First question for you all.
14:32Interest.
14:32Interest is money that can be earned on savings.
14:36True or false.
14:37Interest is money that can be earned on savings.
14:40Y'all can't be looking at each other paddles now.
14:42Y'all got to help me.
14:43Tell me who's cheating.
14:45I'm going to allow it.
14:46Everybody has to put it up faster next time, or I'm going to point you to the stairs.
14:49Okay?
14:50I love you.
14:50All right.
14:51Cool.
14:52Yes.
14:52Interest is money that can be earned on savings.
14:54That's correct.
14:55Next question.
14:57The New York Stock Exchange and NASDAQ allow you to trade stocks between 9.30 a.m. to 4.00
15:05p.m.
15:05Eastern time.
15:06True or false?
15:08Quickly.
15:11They got it right, y'all.
15:12Give them a round of applause.
15:13Come on.
15:14Come on.
15:16All right.
15:17True or false?
15:20A deductible is the amount.
15:23Wait.
15:23Y'all better put it up immediately, okay?
15:25Don't be looking at each other.
15:27All right.
15:29A deductible is the amount your insurance company always pays first.
15:33True or false?
15:34Show it.
15:35Show it.
15:35Show it.
15:36Pause.
15:37All right.
15:38The answer is false.
15:40All the truths must leave the stage.
15:44You must pay the deductible first.
15:47You must pay the deductible first.
15:51It's all right.
15:52Y'all holding it down.
15:53Money myth busters.
15:54Good job.
15:56All right.
15:57Next question.
16:00This legal document explains how you want your assets divided after you pass away.
16:06It is called a will.
16:08Is that true or false?
16:10Let me see it.
16:11True or false?
16:12Exactly right.
16:13That is a will.
16:14That is a legal document.
16:15Agreed.
16:15Agreed.
16:15Agreed.
16:15Good job.
16:16I agree.
16:16Good job.
16:18All right.
16:23True or false?
16:25Equity.
16:26Equity means ownership in a business or an asset.
16:32Equity means ownership in a business or an asset.
16:35True or false?
16:37Quickly.
16:38All right.
16:38The answer is true.
16:43If you put false, you must sit down.
16:46Good job, mama.
16:47All right.
16:48We almost on our head to head with Nia.
16:52We might be on our final round, to be honest, because ain't no way.
16:58All right.
16:58True or false?
16:59Inflation means prices generally increase over time.
17:04True or false?
17:07Yes, absolutely.
17:08Inflation means prices generally increase over time.
17:11That's exactly right.
17:12All right.
17:13This is going to be the one that does it.
17:15I'm sorry, y'all.
17:17Where y'all from?
17:17What's your name and what city you representing?
17:20My name is Kathy.
17:21I'm from Madison, Mississippi.
17:22Come on, Mississippi.
17:23My name is Gary from Chicago.
17:26Come on, Shai.
17:27My name is Jade, and I'm from Mount Vernon, New York.
17:30Come on, New York.
17:32Melanie from Plainfield, New Jersey.
17:34All right, Jai.
17:35Dewana from New Orleans.
17:37All right, New Orleans.
17:38I'm sorry to my other five.
17:40I love y'all so much.
17:42All right.
17:44True or false?
17:46Diversification.
17:48Diversification means putting all your money into one investment.
17:52True or false?
17:54Y'all can't say it.
17:56Come on now.
17:57Come on now.
17:59I'm glad we know.
18:00Money myth busters.
18:01We know this stuff cold.
18:02Believe it.
18:02All right.
18:03I'm going to go to my heart to knock y'all out.
18:05Maybe.
18:08All right.
18:13True or false?
18:15Every buy now or late.
18:17Excuse me.
18:18True or false?
18:19Every buy now, pay later purchase is interest free.
18:24Show it.
18:25Okay.
18:26Oh, I'm sorry, baby.
18:27I'm sorry.
18:28I know.
18:29I'm sorry.
18:30But you might be right.
18:31Is she right, y'all?
18:34She didn't know what side it was on?
18:37I'm suspicious about this front row.
18:43Okay.
18:44Okay.
18:44Let me.
18:45I'm going to let you stay.
18:46I'm going to let you stay.
18:49True or false?
18:50The FDIC insures stocks you purchase through a brokerage account.
18:56The FDIC insures stocks you purchase through a brokerage account.
18:59True or false?
19:02The answer is false.
19:04The FDIC does not insure stocks in your brokerage account.
19:10The purchase in your brokerage account.
19:12All right.
19:13I actually am going to let the four of y'all duel it out with Nia.
19:20Come on.
19:22No.
19:23Y'all just the best of the best.
19:24Just come up, stand up here.
19:26I believe it because we only have two and a half minutes and y'all look good.
19:31All right.
19:32So, I'm going to get your paddle, sweetie.
19:36I believe in y'all.
19:38There can be only one winner with a twist.
19:44Nia, you've been watching this crowd.
19:47You've been seeing how they've been giving hints to your competitors.
19:50You've been seeing who knows their stuff and who's wrong with every head nod.
19:55So, you get to add whatever your strategy is, whether they're good or bad, amazing or not.
20:02You get to add two folk of your choice.
20:05Point them out real fast.
20:07Raise your hand if you want to come up for the final.
20:08It could be somebody who went before.
20:10All right.
20:10Right here.
20:11Who else?
20:12You.
20:13Okay.
20:13Come on.
20:14Oh, I'm sorry.
20:15You decide, Nia.
20:16Who?
20:18Y'all got to hurry up now.
20:20Come on, Nia.
20:23Pretend you got to paddle in your decision-making.
20:25Come on now.
20:26All right.
20:27I'm going to give this up another time.
20:28All right.
20:29This is.
20:29All right.
20:31Come on up.
20:32Come on up.
20:3390 seconds to duke it out.
20:36The champions of the Money Mythbusters game show.
20:42And again, y'all are doing an amazing job.
20:44You notice the language a lot of times is difficult, but the concept is not.
20:49Y'all are doing an amazing job.
20:51All right.
20:52Give them a round.
20:52Give them a hand of applause.
20:54About to choose our finalist.
21:01All right.
21:01Y'all ready?
21:05All right.
21:06Let me just warm you up really quickly.
21:08Just warm you up really quickly.
21:10If someone promises you they'll double your money with zero risk.
21:15If somebody promises you they'll double your money with zero risk, you should trust them.
21:21All right.
21:22Of course.
21:22Y'all better answer that.
21:23Okay.
21:24Amazing.
21:24All right.
21:25Y'all warmed up.
21:26All right.
21:26Hands to the side.
21:29True or false.
21:31Digital wallets can only be used on smartphones.
21:34True or false.
21:35You got it.
21:36Digital wallets.
21:37Y'all can't look at each other.
21:38Digital wallets can only be used on smartphones.
21:41Come on.
21:41Y'all come on now.
21:43All right.
21:43That answer was false.
21:46All the falses have to leave.
21:49Digital wallets can be used.
21:51All the truth got to leave.
21:52I'm sorry.
21:52All the truth got to leave.
21:53I'm sorry.
21:54All the truth have to leave.
21:55Y'all keep it together.
21:57You do not need to have a smartphone to use a digital wallet.
22:00They're a plug and play.
22:02They use that a lot in Africa, Asia, everywhere.
22:07Exactly right.
22:08He knows.
22:09All right.
22:11True or false.
22:13Stripe helps many online businesses process payments.
22:18True or false.
22:20Stripe.
22:21True or false.
22:23Stripe helps many businesses.
22:26Process payments.
22:27True or false.
22:29Hurry.
22:30False has to sit down because that answer is true.
22:34All right.
22:34Last question.
22:36We only got three people left.
22:38We might have three champions.
22:39We'll see.
22:39Very last question.
22:44Compound interest allows you to earn interest on both your original money and the previously earned interest.
22:53Compound interest allows you to earn interest on both your original money and the previously earned interest.
22:59True or false?
23:00Everybody said true.
23:00You're exactly right.
23:01These are our three winners.
23:02Give them a round of applause.
23:03I'm just buying drinks.
23:04You're doing too much.
23:05All right.
23:06That's all our time, folks.
23:08I hope that you have learned a lot from this session.
23:10I am the CEO and founder of Blaze Group.
23:12We teach financial education at colleges, villages across the entire world, as well as communities, right?
23:19That look like ours.
23:19Thank you so much for engaging with me today.
23:21Appreciate y'all.
23:27We ain't good girl, but we still good.
23:31We'll see you next time.
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