Kelsey Hightower: Honestly, the credit probably goes to everyone in your life. Your mom, your parents, your friends, your colleagues, all that stuff. I was 22, 23 when I finally realized - and it was from observing just where things were going at that time; so I’m 23 in 2000, 2003 maybe… And so I’m looking at the game, and I remember I bought this Suburban. Car nut, right? No kids, no family, nothing. Just me, 5’9”, and I have a seven-seater car. I ain’t taking no kids to soccer or practice… I don’t even own a home, so we ain’t going to Home Depot. “Why do you have this car?” And I had the car so you could see it, and be like “Damn, he drives a Suburban.” That was why I had the car, literally. Just being honest with myself.
[01:22:02.08] And then you look around and you’re buying all these clothes… Again, I don’t really even care about these clothes, but boy, do other people do. And I said “You know what? I made a decision. I’m living by myself. I’m managing the comedian.” I had this consultancy business, entrepreneur… I’m like “We’re doing this stuff, we’re ripping and running all the time.” But when you’re managing comedians, you see the high and the low. You’re seeing very famous comedians spend $40,000 at a club on alcohol and making money fly in the air. And then you watch MTV, or some behind the music thing, and they’ve got no money later. How do you make all that money, and then be broke? And not just broke. You owe the IRS a couple of million, so you negative. How does this happen? So you watch it in real time. And I’m like “Oh, this is how this happens.” And I was like “You know what? I’m getting rid of the truck.” And one of my buddies was like “What are you doing? What are you going to do?” I was like “I’ll just rent a car when I need one.” He’s like “Kelsey, how does this even work?” I was like “I think I got it figured out. First step is –” And I don’t know all the things. So there was one step of “I’m living in the South.” And you eat steak, potatoes, macaroni and cheese, all the sides, you eat the same diet all the time. There’s no big deviation when you grow up where you grow up. You eat what everyone else eats. So I was like “Ah, I’m going vegetarian.” “So what are you gonna eat?” “I don’t know, man. I’ve never eaten Indian food. Let me try some of that. I’ve never messed with Thai food like that. Let me try that. Afghani food. Let me try that. Ethiopian food. Let me try that.” So I was forced to expand, because I couldn’t go to the normal spots anymore, because they ain’t have nothing that fit that.
So now you’ve got this forcing function… Who am I, and why am I that way? So now I’m vegetarian, because I chose to be. And now I’m eating all this other stuff. And now I’m paying attention to what they sell. “Hey, do you have something that isn’t these things?” “We don’t.” So now I’ve gotta go somewhere new.
Now look, for me, that was the number one way to expand my horizon, for someone that’s in their early 20s. Then I looked at the debt and said “Why do I owe all these people money? It makes no sense. I’m out.” And I went to the dealership, and I was like “Hey, I’m going to turn in my cars.” Like, “You can’t do that.” I’m like “Yes, you can. Voluntary repossession. You have to take these keys back. Worst case you will sell the car and I will owe the difference. And I’m ready to pay that difference when it comes. So here’s the keys. Do what you’re going to do to the credit score. I am off the debt treadmill forever. I’m out.” And my friend’s like – and like “Hey, I need a ride home, because I ain’t got no car now.” [laughter]
And so I get a ride home, and I didn’t live too far from an enterprise car rental. And that’s when they used to come pick you up. So I went there, and I still have my consultancy, my computer shop thing… And so I would get the car, and do service calls with it. Right? How hard is this? And I was like “You know what? I need to be charging trip charges when I go out and do these IT installs.” So you build it all into the model. And then guess what, if you’re savvy, you rent the car on Friday. They closed on Sunday. They have these discounts over the weekend. So when you’re try to go out and do dates and all this stuff, you get the car on Friday, you turn it back on Monday, and you don’t lie. This is a rental car. I am debt-free. This is part of the whole debt-free thing. Anyone that can’t get down with that, I can’t afford to be with them anyway… The good lifestyle is not what I’m trying to be about. So then people see who you are.
So now I’m debt-free. So that’s like “Hey, everything gotta be debt-free. We’re making decisions different over here.” But then when you do get money, what do you do? Do you change up? No, you stay the same. Nah, no, no, no, we stay the same.
I used to date my wife in high school, but we reconnected years later. And I remember two things. Blood test, credit report. I was like “Oh, you’ve got debt. No, no, no, no… We can’t get married with no debt. Here’s how it’s gonna work. I make calls, pay things off, but you’ve got to pay me back. Because I’m not the boss of you. You’ve got to know how I feel, and you’ve got to earn it back with a little help. Now you’re debt-free.”
[01:26:07.17] Right before we got married – we set the date for marriage right when the debt was going to be paid back. Now she’s her own person. She has what I have - independence. She knows what it’s like to be debt-free, and she knows what it’s like to be in control. And I proposed with a cubic zirconia. “Why am I paying ten grand for a diamond? It makes no sense. I can pay $1 for cubic ciconia. We pocket the rest.” We got married in Bahamas. Not because it’s fancy, because AirTran - I don’t know if y’all remember AirTran, the airline…