From the Ghetto to a Growth Mindset | Jerry Brown The Financial Independence Show

Today's episode features Jerry Brown from Peerless Money Mentor.



Jerry grew up in a self-described ghetto with no real view of a way out.



We cover his background, how he turned things around, and how he's built a powerful financial independence network.



You won't want to miss this inspiring story!



Listen, learn, and let us know what you think about this awesome episode.

Episode Summary

Jerry's Background



* Jerry didn't really know he was poor growing up

* But he lived in a crime-filled neighborhood with few outside role models

* His mom also needed assistance to get by

* He talks about how people were surprised he'd even admit that he was from the area he lived in

* Growing up he thought basketball or rapping would be the only possible way to escape

* His mom did put a big emphasis on learning but financial independence never seemed reasonable



Can you Bootstrap Past Disadvantages?



* Jerry sees it as a mixed bag

* He does put a lot of weight into hard work

* But he also acknowledges the real disadvantages

* He was also cognizant enough to understand his family was a big advantage



Jerry's Financial Mistakes



* Jerry was young and healthy so he thought he didn't need insurance

* A large dental procedure led him to serious credit card debt

* Then he started buying more things on credit

* Eventually, Jerry would buy a $22k car while only earning $22k per year



Financial Wake Up Call



* He came home and his fiance had her bags packed

* Jerry realized he couldn't afford to live by himself

* So he thought he'd just live out of his car to avoid the embarrassment of moving home

* Jerry was also carrying debt with 25% interest rates

* He was making payments but was never actually making progress

* A friend recommended he refinance through a personal loan

* This lowered his debt all the way down to 5%

* For his remaining credit card bills, he did a balance transfer

* That gave him 0% rate for 18 months



Jerry's Side Hustle Journey



* He tried Swagbucks but the payout was terrible

* Then he tried Uber but it was taking a toll on his car

* Jerry also tried We Go Look where you send in pictures of damaged vehicles for insurance claims.

* Now he is getting more into freelance writing and social media management

* Jerry also highly recommends Beta Testing.



Networking



* This was a really powerful part of Jerry's story

* Networking expanded his world view

* It also tangibly impacted him

* From ideas on debt payment or side hustles like freelance writing

* Jerry really highlights the importance to surround yourself with people you can draw knowledge and encouragement from



Key Takeaways



* Artificial Limits: One thing that really stuck out was the disadvantage that people experience simply by having low expectations set for them and surrounding them.

* Mental Health: We loved that Jerry was open about his mental health journey and his encouragement to others to also take it seriously.



Call to Action



Expand your network! One easy way is to just join our Facebook group page. Other options are LinkedIn, MeetUp, or other Facebook group pages.



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