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Welcome to the show.I am Rashawn McDonald, the host of Money-Making Conversations Masterclass, where we encourage people to stop reading other people's success stories and start planning their own.
Listen up as I interview entrepreneurs from around the country, talk to celebrities, and ask them how they are running their companies, and speak with non-profits who are making a difference in their local communities.
Now sit back and listen as we unlock the secrets to their success on Money-Making Conversations Masterclass. My next guest is truly an industry decision-maker.My next guest's name is Ash Cash.
He's one of the nation's top financial educators, personal finance experts, business coach, motivational speaker, a former 15-year banking executive, and the author of many books, including four Amazon.com bestsellers.
He's been featured on many media outlets such as CNN, The New York Times, Wall Street Journal, America Banker, CNBC, TheStreet.com, Black Enterprise, Essence Magazine, and Ebony.He is dubbed as the financial motivator.
He uses a culturally responsive approach in teaching financial literacy, wealth building, and entrepreneurship.Please welcome to Money-Making Conversations, he's my friend, Ash Cash.
Brother Rashad, thank you so much for having me.I appreciate you.It's a pleasure.You know I had to throw on my money-making shirt on.Absolutely.Because it's money-making conversations, so we had to make it happen.
Well, the great thing about it is that watching you build your career and watching you, you know, stay on the sideline, watch people.That's how people understand.You don't have to jump out there immediately to say, I've arrived.
You should have come with some experience.Let's talk about your background a little bit on being able to make you an authority, make you authentic, make you organically appreciated by the people who you give advice to.How did it all start for you?
Yeah, it started 19 years old, straight out of high school, actually.I was working at a video store, rest in peace to Blockbuster Videos.And I knew that I didn't want to be a store manager.
And one day, one of the assistant managers said that they were hiring at Chase Bank for tellers. And so I said, oh, you know what?You know, let me just test it out.I love money.Let me just go test it out.
And so I started my career as a teller at 19 years old.And I did everything, you know, in banking, from teller to personal banking to private banker, branch manager.I was the CEO of a credit union.
And while I was working, though, one of my joys, I used to go to jails, you know, Rikers Island, to churches, community-based organizations, and teach financial literacy.
And I'm a big Jay-Z fan, so in the words of the Honorable Sean Carter, there's much bigger issues in the world I know, so I first had to take care of the world I know.And so I figured, I said, you know what? I want to do this for a living.
And so from there, I just decided, like, how do I make money?How do I make impact, number one, but then how do I make an income and an impact?
And that's when I wrote my first book in 2009 and really just kind of, you know, became a speaker, became a financial educator.And then, you know, here I am today still doing the same thing, still a financial educator, but really
you know, doing it at a level that allows me to have, you know, more impact and, you know, combine that with income as well.
You know, Ash, when I brought you on the show, the whole process is just to break down a lot of things that people fear.And people fear money.People fear banks.Banks intimidate people.Taxes. intimidate people.What's the common effect?
You know, because you've been in the bank and you've seen all those different layers that you have.What is the number one common denominator that people have and not be afraid of when they bank?
Yeah, I think first and foremost is knowledge.And then second of all, it's the mindset, right?Because once you have knowledge, people are afraid of what they don't understand.
And so what happens is that a lot of people don't really understand how banking works, how taxes work.They don't understand that part of the game.And so what they attach themselves to
is other people's experiences, what other people go through, which is normally the negative stuff.And so they attach themselves to that negative aspect of it.And so that becomes their reality.
But if they start to, you know, get knowledgeable, right, the more we understand how things work, that is going to, the knowledge is going to change our mindset.
And then our mindset is going to let us know that these are, you know, banking is a tool, money is a tool, You know, taxes, even, it's a tool.And if you know how to use it the right way, you can actually use it, you know, in your favor.
You know, it's really funny when we're just hearing your conversation, I smile because, you know, you was talking about how people could stop you from doing your dreams, you know, and they have negative spirits because you can go to people, they're gonna have a negative story before they have a good story.
That's fact of life.And so, and in the beginning, I always tell people, you know, don't let your age, friends, family, or coworkers stop you from planning and living your dream.At the age of 19, you know, you left Blockbuster and went to a bank.
And then you started having dreams or thoughts of running a bank, being an executive.Talk about people who didn't believe that you could do that, that questioned you and said, no, you're just going to be a teller.
No, you're not going to ever run a credit union.Because that stopped so many people's dreams and it allowed those negative moments to dominate and then redirect their dreams.
Yeah, I think it's important that you can't, excuse me, I don't know if you hit a dog.
I heard it, don't worry about it.
Okay. Um, and so, you know, I think it's important that, um, you know, when you have a dream, you have to realize that the dream was given to you for a particular reason.
A lot of times people are so interested in, um, you know, what their family has to say, what their friends have to say, not realizing that the dream wasn't given to them.
And so, uh, I was met with a lot of opposition, uh, when I had this dream of being a banker, when I had a dream of, you know, being a branch manager, because The truth of the matter is that the finance industry is 2% black, right?It's 2% minority.
And so when you see a black guy who's from the hood, you know, right?I grew up at St.Nicholas Projects in Harlem.And so a black guy from Harlem who doesn't have the education that was necessary, I had a lot of naysayers.
I had a lot of people telling me, what I could and couldn't do.But the one thing is that I just had to attach myself to that vision.I had to attach myself to that goal and make sure that I just stay focused on it.
They always say representation matters.And the one thing, all I needed to see is one person.I didn't need to see a thousand people.I just needed to see one person that looked like me, that did what I wanted to do.
And once I saw that one person, that's who I locked in on. and everything that everybody said or all the naysayers, it really didn't matter to me because I knew it was possible.
And that belief system, that mindset of knowing it's possible was all I needed.
And so I would tell anybody who has this dream, don't share your dream with somebody who has not lived your dream or has experienced your dream or is experiencing it because they're coming from a space of they don't have the knowledge, right?
And so if you're looking to have a successful relationship, you can't talk to somebody who's never been in a relationship and get relationship advice from them.
If you're looking for money advice, you can't talk to somebody who doesn't have money experience.You have to have money-making conversations with people who know how to make money, been around money, who understand money.
So that way, that advice is coming from a place of where you wanna be or where you wanna go.But though, once you get their advice, it doesn't mean you hold on to it because things change too, right?
You take their advice and then now you mold it, you create it for you so it'll be tailor-made for you and then you move forward from there.
Yeah, that's what I love.That's why I was excited about bringing you on the show, because you live my mantra, you know, stop reading other people's success story.
That's their advice, you know, and start writing your own, because their pathway on how they got there is different.Their age is different.Their gender may be different.Their, you know, their parental support may be different.
And so, but their advice is important.Just don't try to live it the way they, and achieve it the way they achieved it.But more importantly, when I listen to you communicate all these nuggets of information about your your history.
And I tell people between the ages of 18 to 23 are important because that's when you're out there being yourself.You champion your own causes.You may not be married yet.You may be just a guy inspired or female inspired about your dreams.
And when you get out of that, when you hit your 30s and 40s, is when your dreams may get shifted out of pocket.Now, as you were starting to grow, what started shifting and who helped you stay online, Ash?Because I would call those people important.
I had a lot of people who just stepped to the plate with Rashawn.Are you crazy, Rashawn?Don't do that.
Yeah, so I would say first and foremost, you know, I have to say my wife, right?Because when I met her, you know, we worked at the bank together actually, and she was my biggest champion.She saw a lot in me that I didn't even really see yet.
It took me a while for me to see it, right?And so she was always speaking life to me, right?She was always telling me, you know, like if I accepted something that was less than, you know, what I knew,
or less than what I deserve, she would be like, nah, you need to step that up, right?And so definitely my wife was a big part of my success.But then also, oddly enough, it was people I never even met, right?
Because a lot of my neighborhood, growing up how I grew up, I didn't have access to business mentors.I didn't have access to people that could directly mentor me.And so a lot of part of my success was reading books.
Part of my success was watching documentaries.Part of my success was really just understanding that, you know, other people have done what I want to do.They laid the blueprint.
And I stay motivated by always, you know, focusing on, you know, somebody's story that, you know, that I said, oh, wow, this person came, you know, from the neighborhood.Oh, this person is, you know, has nine brothers and sisters.
They grew up in the inner city too.And they got two Emmys and they, you know what I'm saying? It was those type of stories that really allowed me to continue pushing.
So I would definitely say my wife, I would definitely say stories, documentaries, celebrities, business people.Reginald Lewis was a big- Awesome.
success, you know, a big influence in my life, Black Enterprise, right, Alfred Edmond, you know, a lot of people who I've watched from afar, but then eventually, and not to get philosophical, but eventually, as you start vibrating on the energy of success, you start to now attract success, right?
Success attracts success.And so as I started to, had to pretend and create these mentors in my head, As I started to get successful, I now started to attract other successful people who have now been my mentors directly.
And so I would say it's a combination of what I read, who I attracted, and then also my wife as well.
I'm speaking to Ash Cash.
He's the founder and chief financial educator at MindRight Money Management, a financial education and media company that blends psychology and personal finance with music, pop culture, and relevant news to help people manage their money.
It's the key to this conversation about managing your money, but also your lifestyle, better in order to live the life that you want. And that's important because so many people make mistakes when they, I always say, look in the other person's yard.
You know, just because they got a rose don't mean you have to have a rose or your rose that big.You can buy a small rose for a lot less money and let it grow to that.But a lot of people want to match up.
And that's what a lot of people make errors with money.They want to match up to what they think is successful.Like you said earlier, in a lot of tech area, financial area, you see very few Black people. of people that look like you.
Well, that's why Blacks, a lot of times, are attracted to sports, because sports are dominated by African-Americans.65% of the NFL is Black.Over 80% of the NBA is Black.And so they feel that's easy.But still, in anything you do, Ash, there is work.
There is competition.Let's take the blinders off the fake game.Just because you see a lot of us don't mean it's easy.Talk to us.
Yeah, and I love that you said that, because I think that's what happens, right?Especially now, because we have social media.And so social media is the highlight reel.
So you see the highlight reel, and people say, oh, if he can do it, then I can do it.But people don't see the sleepless nights.People don't see you're the first to wake up, the last to go to bed. People don't see the grind that goes behind that.
And so I think number one, that's why when they say life is a journey, not a destination, that's important for people to realize that if success is a place for you, then you're doing it wrong.Success can't be a place.
Success can't say, I'm successful when I reach this place. That's absolutely false.You're successful when you wake up every single day with purpose.You're successful when you say, you know what?
This is what I want, but I love the process that it's taken me to get there.Because I promise you, once you get to whatever destination there is, there's going to be something else.You're going to stop.You're going to rest if you must.
But then you're going to say, oh, I want this now.I desire this.And then now there's going to be another journey.The journey doesn't stop. Understand that don't look at somebody else's success and fall in love with the highlight reel.
Don't fall in love with what they're posting on social media.Find out what is the process?What process did they take to get to that level?And what is that process?And can you fall in love with the process?
If you cannot fall in love with the process, then success isn't for you, right?If you can't fall in love with the process of what it entails to attain what you want to attain, then you should be focused on something else.
Every single day, right, my goal is to inspire and motivate people to be the best that they could possibly be. Whether I got a dime for it or not, I am that, right?In my being, I am inspiration.In my being, I am motivation.
And so it doesn't feel like work.I know people say, if you find a job that you love, you'll never work a day in your life.And so when I say it doesn't feel like work, I don't mean that there aren't times where I wake up and I'm like, ah.
I'm not saying that.I still love it, right?Love and tired are not mutually exclusive, right?I can still love it and still be tired, and still be stressed, right?
But just understand, though, that once I get going, I'm like, all right, this is what I'm meant to do.This is what I love to do.
And so, you know, I mean, everybody who's after success, just know that it's a journey to it, and make sure you fall in love with that journey.
Please don't go anywhere.We'll be right back with more Money-Making Conversations Masterclass.
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Bank of America employee volunteers like Dominique are teaching Better Money Habits, including debt management.
If you have good debt, like a mortgage, you don't necessarily prioritize paying those off right away.
But if you have some debt, really, really high interest rates, not the best terms, then maybe you prioritize paying those off or you take a balanced approach to doing it.
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Welcome back to the Money-Making Conversations Masterclass hosted by Rashaun McDonald.
Money-Making Conversations Masterclass continues online at MoneyMakingConversations.com and follow Money-Making Conversations Masterclass on Facebook, Twitter, and Instagram.
Yeah, it's so funny you say that, because I always tell people, I get up at four o'clock in the morning, Monday through Friday.I say, I'm not happy getting up.I say, but I know that's part of the journey.
And I always tell and share the story with people about my wife.One time she asked me to, she asked to drive me to the airport, you know, and she said, wow, you just, you just don't stop, do you?I said, Well, it's not a question of me stopping.
These are part of our goals.You put goals in place, you have to reach them.And she said, do you ever get tired?And I told her, I said, I'm tired right now.
You know what I'm saying?And I had to tell that story because I knew you would appreciate what I'm saying because look, man, look, just because I'm moving forward don't mean I don't want to lay down. But that's not part of the mission.
And I want to throw you a compliment, because I'm a big rapper.I'm a big rapper fan.And my all-time favorite rapper is Tupac.Tupac, nobody can tell me nothing wrong about Tupac.And it has nothing to do with your size, nothing to do with your color.
But just listening to that, I'm going to call them lyrics that you just laid about motivation and inspiration.Man, if you'd have dropped a biggie small beat underneath you, boy, boy, I'm telling you, I'd have took off.I'd have took off.
I'd have took off. Because it felt like I was listening to the biggest, smallest motivational and financial expert.But you've been dubbed like that.You've been dubbed a financial motivator, haven't you?
Absolutely.Yeah.And you know, the funny thing about that is because, you know, like I said, I am motivation.And so, you know, when I teach, and that's what makes me different, right?
When I teach finance, I'm not teaching, I mean, finance can be boring, right? teaching it from a perspective of, oh, you know, you know, one plus one equals two.Number one is the mindset, right?
And that's why my company is called Mind Right Money Management, because you have to have your mind right before you get your money right.But then, you know, I just believe this.I believe that every single day that you wake up, it's a blessing.
Everything else is a bonus, right?And so with that level of excitement, I need people to be excited.I want you to be excited with the opportunity to earn.I want you to be excited that you even have an opportunity to fulfill your dream.
Don't only be excited because your dream is fulfilled.Be excited that you have the opportunity.There are 150,000 people that die every single day who wish they had the opportunity that you have.And so I just wake up,
inspired and motivated and thankful to God that I have another opportunity to talk to people.And so, you know, you know, I don't drink coffee.So this energy that you get right now, this is this is this is nothing but water.This is H2O.
I don't drink coffee, but it's just an excitement.And that's why they call me the financial motivator, because, you know, I have a special way of using that excitement for life.
to teach you about finance because I also believe that abundance is our birthright.And so it's not something that we should be begging for.It isn't something that we should be compromising ourselves for.It is our actual birthright.
And the more you can get to the money, the more you can get to the purpose, right?So when you start leading with purpose and you start doing and being who you are every single day,
That is what's going to allow you to command the income that you want to command.And the more income, right?I know Biggie said, more money, more problems.But the more income, the more impact, right?More income, more impact.
And so that's what it's about.It's about having motivating people to get to the bag, right?Motivating people to get to that financial abundance.That's their birthright.So that way they can have more impact, right?I've been broke before, right?
I've been at spaces where I'm counting and figuring out how I'm going to pay bills.I'm not my 100% self, right?I'm not giving you all of ash cash if I'm trying to figure out how I'm going to rob Peter to pay Paul.
But I promise you, when I'm in my purpose and the income is matching the impact, I get the impact more.And so that motivation piece is very, very necessary.
And it's very, by the way, I don't drink coffee either.I don't drink tea.I don't drink alcohol, not because I just don't like the taste.If people do it, I'm proud of.And so, because again, it's my, I get up because my body tell me to get up.
But I always tell people this, the reason I get up because I have a reason to get up.A lot of people just go to bed, Ash.They just dive in bed and then when the alarm go off, they mad or they don't know.But when that alarm go off,
What drags me out of bed is that I know what I have to do.And it's about planning for success and about putting forth that effort.
And so when you, like you said, when Biggie said, more money, more problems, all he's saying is, look, you can get more money, which means that you're going to have to put more effort on what you're going to do with it.
And that's what this conversation that we're having is about effort.Everybody wants to be a great athlete.Everybody wants to be a great singer.Everybody wants to be rich.Everybody wants a big house.Taxes come with that.
Electrical bills come with that, gas bills, all of it's much more.You know, I remember when I was reading John Sally, when he had his house, he bought the big house in Detroit.He said he had like a $17,000 electric bill.Okay, guess what?
He bought a big house.That's what came with it. He kept the lights on.All those bedrooms had to be all the time.All that stuff comes with it.And that's where more money, more problem.
As a motivator, what do you tell people who get frustrated when the dream isn't what they thought it would be when they arrived?
Yeah, I think that, so the first thing I tell them is be grateful.Be grateful that you know that this isn't what you want, right?It is as important to know what you don't want as it is to know what you do want, right?
Because knowing what you don't want will get you to what you want faster.There are many things that I thought I wanted.I was like, oh, this is it.
I'm gonna put my blood, sweat, and tears, and then I get to this destination, and I'm like, oh, that's it? But now it kind of weeds out all of the things.And so I don't think it's a loss, right?A loss isn't a loss, it's a lesson, right?
And so it's not a loss, it's really a lesson.And so for those who get frustrated, I think frustration is a great tool if you use it right. Right?Because some people use frustration as a way to stop.Some people use frustration as a way to give up.
Some people use frustration to say, you know what, I'm not doing this no more.But you need to know, you have to use frustration as a barometer, right?I'll give you an example.
If you ever are driving late night on any highway, and for whatever reason, you get tired and you start veering left, what's going to happen?You're going to run across those ridges in the road.
It's going to wake you up.
It's going to make that noise, and it's going to wake you up. Imagine if the ridges weren't there.If the ridges weren't there, you'll probably hit the divider, you'll swirl around, you'll cause a bad accident.
And so those ridges on the side, when you get tired and you start veering left or veering right, it's a wake-up call.It's like, yo, wake up. You got to get up.You're about to crash.Frustration is that.Negativity, right?Negative feelings, it's that.
It's not for you to scoff at it.It is a barometer.When you start doing something, you start to get frustrated, and you're like, ah, I hate this, then just don't stop.Just take it as a sign that you need to regroup.
That the negativity, that negative feeling that you have is telling you that you are on the wrong track. And now you got to figure out how do I go back to the middle?How do I go back to this road so I could go in the direction I need to go?
And so anybody who's feeling frustration, good.Good that you're frustrated.You either care about this thing or you're not supposed to be doing it.So now take a step back, analyze why are you frustrated?How can you release this frustration?
And what should you be doing?Because now that you know what you don't want to do or don't like to do, what are the things that you should be doing?
Yeah, thank you for that.But there are other ways you're promoting yourself.You have the Ashkash Show, a daily live financial news show, which streams Monday through Friday, 8 a.m.to 9 a.m.Eastern Standard Time.
And it provides what we just heard, motivation and advice on finance, entrepreneurship and more.And then I appeared on The Vault with Ashkash, where he speaks with successful tastemakers and entrepreneurs on their mindset.
When you started tapping into my mindset, what was your walk away?
Yeah, ah, man.So it was, first of all, it was a classic.It was an honor to even just be in your presence because, you know, as I said on the show, there was so much... I'm always the behind-the-scenes guy.Right, right.Like, what's making this tick?
But when I started tapping into your mindset, the one thing that stood out to me is that it was your resilience, right? your ability to not allow nothing, honestly, right?Nothing to stop you.That you set a goal, right?
And you see the vision for that goal, and you go after that goal regardless, right?Even when there are obstacles, because you've had a lot of obstacles in your life.There were things that the normal person, right?And I'm using normal
at the, you know, just at the word, right?The normal person would have given up, given the obstacles, given the things that have happened in your life.
But your mindset, you know, I don't even think you understand what giving up means, to be honest, right?Because there were even moments in our interview that you said something that the normal person would have been
more emotionally attached to it, like, oh, this happened, right?But you was like, oh, yeah, yeah, it was just that.And I was like, whoa.Again, so I think that mindset of resiliency that I know that the goal is this.
And I know on my way to that goal, there are going to be some obstacles, there are going to be some roadblocks, there are going to be some detours, there are going to be some things, but that's not going to stop me.
That's actually, right, like failure is actually part of success.That's what I got.That the failures, the roadblocks, the things that you might stumble on are part of your road to success.
So resiliency is that word that I would definitely attribute to you.
You know, the beauty of you is that my blessing is that meeting people who make me better and being interviewed by you, sitting around your crew, I walked away a better person, a better leader, a motivation, because sometimes you get trapped into rhythms.
And that's why I always tell people to experience.That's why people tell you to go on vacation.So go to different destinations so you can see things. either frustrate you, which I love that, because I love two words that you've talked about.
One word, you say frustration, that people don't understand the value of that.Selfishness, on my side, people don't understand the value of that because they take it negative.
They took two negative words, frustration and selfishness, where really those are the keys to your success.Because selfishness is denying yourself and taking advantage of every hour in the 24 hours.
That's selfishness to say, man, look, if I got to get it done, I got to get it done. overcoming the frustration that most people say, I can't get it done because I don't have enough time.I've never understood what that meant.Not enough time?
Are you awake?Do you have your help?God blessed you to get up.You have enough time.Set some goals and we'll get it done.
But the number one thing about it, and that's why I'm recommending people to see your show that streams Monday through Friday, 8am to 9pm. 9 Eastern Standard Time, you're nonstop.
And my compliment about you being the Biggie Smalls of financial motivation was as ultimate compliment as I can get, because you got the lyrics, and the lyrics is financial literacy.
And if somebody is speaking it, or they say coming off the dome as you are in financial literacy, take that crown, baby.Wear it to the right like Biggie had it.
Absolutely.I appreciate that.It means a lot.Thank you.
So what's the future for you?Let's wrap it up and let's talk about what's your future and next step goals.
I mean, the future was an Emmy Award talk show, but now the future is EGOT, right?If you know, you know.The future is EGOT.The future is Emmy, Oscar, and Tony. The future is a Grammy, the future is an Oscar, the future is a Tony.
Courtesy of Rashawn McDonald, so I received that.The future is really for me just continuing to do what I do every single day. but just on a higher level, right?And so that's the beauty of what I do.I'm writing more books.I have a daily finance show.
I have Inside the Vault with Ash Cash, which is a podcast.The goal is just to continue and reach more people.And so I might have a reach of 100,000 or a million people, but how do I get that reach of millions of people?
And so it's just to continue to do the same thing that I'm doing, but on a larger scale.
Well, you know, I remember a couple of years ago, a guy came and he was interviewing me.He said, man, you're going to fill stadiums.I go, hmm?He said, what you say, you're going to fill stadiums.
And I'm going to tell you this, Ash, when I fill that stadium, you're going to be on stage with me, brother.That's how much I respect you.I see you as a younger version of me with different goals that are working for you.
And I want them to be different from mine.But more importantly, I want to share you in any platform that somebody says, who do you want else on the show?I understand you're going to get a call from me, Ash. Because, man, you a beast, dude.
And I love you for that.I love your team.I love what y'all doing, man.And if you ever need me for anything, I always know.I'm coming without hesitation.
Thank you.That means a lot, because you were on the mentorship list as well.So you were somebody that was a mentor to me.I think I told you this, but back in the Steve Harvey WBLS days, anytime I went in that building, Rashawn McDonald was the name.
It rung bells in that building.And I was like, who is this Rashawn McDonald guy?And when I looked you up, I said, oh, He's the guy.That's the guy.And just from a manifestation perspective, right, just like thoughts become things.
Because, you know, now you've been on my show.I'm on your show.You know, what you've just, you know, the help that you've just offered up, that's literally, you know, you were once a mentor to me that I didn't have access to.And now I'm vibrating.
I'm in an energetic alignment with Rashawn McDonald.And now, you know, I can have you as a real mentor.
It means a lot to me.Absolutely.Absolutely.Ash Cash, I want to thank you for coming on Money-Making Conversation, my man.Thank you.
Thank you, brother.I appreciate you.
Cool.If you want to hear more Money-Making Conversation or see more Money-Making Conversation interviews, please go to MoneyMakingConversation.com and subscribe to my YouTube channel.I'm Rashawn McDonald.I am your host.
This has been another edition of Money-Making Conversation Masterclass hosted by me, Rashawn McDonald. Thank you to our guests on the show today and thank you, our listening audience.
Now, if you want to listen to any episode or want to be a guest on the show, visit MoneyMakingConversations.com.Our social media handle is MoneyMakingConversations.Join us next week and remember to always lead with your gifts.Keep winning.
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