“Credit Is a Tool, Not a Trap” Ex-Ramsey Personality Anthony O'Neal

Nicole Lapin (0:00)

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Anthony O'Neal (1:00)

Get off of Instagram, get off of TikTok, and go get some solid counsel and get better in this area.

Nicole Lapin (1:05)

63 percent of Americans live paycheck to paycheck. Anthony O'Neal was one of them, and now he has his own plan, his own show, and a new best seller, Stop Living Paycheck to Paycheck today. Today, he tells me which Ramsey rules he has torn up completely.

Anthony O'Neal (1:20)

Dave believes in your starter emergency fund should be $1,000. If life hits me and I only have $1,000, but I need $5,000, I'm going to make the wrong decision.

Nicole Lapin (1:29)

Which he still lives by.

Anthony O'Neal (1:30)

I am financially free because of his baby steps, because my expenses are so low that I have the freedom to just enjoy life.

Nicole Lapin (1:40)

And what he really thinks when his old boss calls people stupid.

Anthony O'Neal (1:43)

There are a group of people that life just happened to that was out of their control. I have sympathy for those individuals, but Nicole, sometimes it is our fault.

Nicole Lapin (1:53)

And whether or not he's on Kevin O'Leary's side or my side when Kevin yelled at me on my own show. I forbid you to give people that advice, I forbid you. That's just horrible. Because I asked him, somebody that makes $70,000, no consumer debt, emergency fund is done. I said, you know what? They can buy a $28 lunch at that point.

Anthony O'Neal (2:10)

The reason why I said I agree with him is.

Nicole Lapin (2:17)

And Nicole Lapin, the only financial expert who don't need a dictionary to understand. It's time for some Money Rehab. Anthony O'Neal, welcome to Money Rehab.

Anthony O'Neal (2:33)

Nicole!

Nicole Lapin (2:34)

I'm so happy to see you!

Anthony O'Neal (2:36)

Listen, you are amazing.

Nicole Lapin (2:38)

You are amazing.

Anthony O'Neal (2:38)

I have been a fan of yours for years.

Nicole Lapin (2:41)

I've been a fan of yours for years. It's like the mutual admiration society over here.

Anthony O'Neal (2:44)

And when I saw you at Invest Fest, I said, oh, we're about to get some information.

You know what you're talking about. And I love that. And thanks for having me on.

Nicole Lapin (2:51)

I love spending time with you. I love seeing you at Invest Fest. I love that you're here in person. We're going to continue the conversation, but I have to be honest with you. Okay, what's that?

Anthony O'Neal (3:00)

Up front.

Nicole Lapin (3:01)

I was a little nervous. Why? When I found out that you're coming.

Anthony O'Neal (3:04)

Why?

Nicole Lapin (3:05)

Because after Invest Fest, I put out a clip from when Kevin O'Leary was sitting in that chair and he shamed me. He said, shame on you. And you or whoever's running your social media agreed with Kevin.

So we have some things to talk about. We got to talk. We have some things to talk about.

Anthony O'Neal (3:27)

We got to talk. There was two clips that I actually like from that show. Which clip were you talking about?

Nicole Lapin (3:33)

You were like, Kevin O'Leary is right.

Anthony O'Neal (3:37)

Yes.

Nicole Lapin (3:38)

Do not buy the $28 lunch.

Anthony O'Neal (3:41)

I love it.

Nicole Lapin (3:42)

So we're going to get into it.

Anthony O'Neal (3:44)

We're going to get into it.

Nicole Lapin (3:45)

Here's the other thing. Uh-oh. I have to just get some stuff off my chest because here, get comfortable.

Anthony O'Neal (3:55)

Oh, Lord. So.

Don't need to take off my jacket. It's kind of hot and it's 65 in here.

Nicole Lapin (4:01)

So I've had some long running feelings about some stuff that comes out of Dave Ramsey's mouth as well.