How “earn money for leisure” changes financial knowledge for the benefit of culture

Financial literacy has change into a hot topic on social media, but for years it was the preserve of MBA graduates, Ivy League players and the white middle class. Despite good intentions, many black parents were unprepared to show their children about stock options, real estate investing, debt management, and the importance of ownership or life insurance just because they themselves didn’t have access to this information. Even today, many working-class communities of color still lack access to the economic resources available to prestigious institutions and business establishments. But Rashad Bilal and Troy Millings are changing the narrative with a financial podcast that has grown right into a wildly popular, multi-faceted platform changing the face of wealth.

Genesis

Before launching Earn Your Leisure (EYL) in 2019, Bilal and Millings taught financial literacy to public school students in the Bronx, New York. While working as an elementary school physical education teacher, Millings incorporated financial literacy into his lesson plans during summer school. At one point he asked Bilal, a financial advisor, to instruct his students about money. Finally, longtime friends built the set finance curriculum for students. Meanwhile, Bilal had also began constructing a robust social media presence by sharing financial information, and desired to expand his reach by starting a podcast. Naturally, he asked Millings to co-host, and the two began discussing the money games behind sports, entertainment and business, in addition to the latest economic trends. On the show, Bilal and Millings delve into the stories of famous entrepreneurs and famous business owners, comparable to the billionaire Marek KubańczykNBA legend and business titan Shaquille O’Nealand social entrepreneur John Henry.

“There were a lot of business podcasts or business platforms (that gave) a lot of crap and a lot of motivational stuff,” Bilal said BLACK ENTERPRISES. “I really don’t want to hear it. I want to know exactly what’s going on and how did you do it?”

Bilal says that in the first few episodes, Bilal and Millings “did deep into the case studies. This was the original assumption. It was like pop culture mixed with Harvard Business School. He added that “we took case studies like Airbnb and broke them down.”

Strengthening Culture

Their formula worked. Just seven months after launch, EYL has raised over 6,500 subscribers and averaging 20,000 episode views through July 2019. The show has now amassed over 5 million downloads, in addition to a formidable 422,000 YouTube subscribers and 702,000 Instagram followers. Hosts consider their following has grown because they consistently serve disenfranchised markets with content that’s authentic, delicious, and economically empowering.

“We have created our own niche when it comes to the financial literacy space. We approached it differently,” Bilal said. “For years, you had to wear a suit and tie to really be taken seriously and talk about business. And you had to shave your face, (but) we come with beards and hoodies and sneakers and hip-hop lyrics.” He states that “the best marketing tool was simply being yourself.”

Millings says the key to growing the audience was intentionally reaching out to underserved communities which have historically lacked access to financial tools and resources.

“We added value to a community that needed it,” Millings says. “We combined barbershop conversations with Wall Street and it just worked out.”

In addition to the podcast, Bilal and Millings created it Earn money at recreational university, a web based learning platform offering dozens of courses across 35 different industries. They also launched the EYL podcast network, which currently produces and distributes programs including: with Ash Cash and with the investor Ian Dunlap. What’s more, a duo secured the contract with iHeartMedia and Charlamagne Tha God with the groundbreaking podcast network The Black Effect earlier this 12 months.

Implementing games in practice

Bilal and Millings not only bring economic gems and exclusive interviews to a brand new generation; in addition they apply these lessons to their very own lives. For example, Millings says Dunlap has modified the way he saves money.

“I remember when Ian (Dunlap) and I sat down and he told us, ‘Listen, we told you you needed six to eight months of savings to be safe.’ And I remember he said, “No, my new theory is we need 60 months.” And that blew me away,” Millings recalled. “I said, ’60 months? That’s almost five years of savings!” Dunlap, nonetheless, explained that constructing a bigger savings fund is the foundation of generational wealth.

“When you accumulate a certain level of wealth, it should now not be about you, but about your loved ones and the generations that may live without you. And this has now change into my way of pondering,” says the teacher.

Bilal talks similarly about his interview Stairs on Wall Streetstock trader and YouTuber, persuaded him to open a deposit account for his son.

“It’s something I did not have for my son. “I already knew that, but just him talking about how much money he had for his daughter really encouraged me to actually go ahead and put the money into my son’s account,” he said.

“I use everyone we brought to the platform who actually has anything to do with stocks,” says Bilal. “I pick their brains, ask them different questions and learn as much as I can from them offline.”

The future of the Movement

From expanding a web based university to opening a non-public equity firm, the sky is the limit for the EYL brand, and the hosts set themselves ambitious goals.

“We want to grow in the online education space and be the largest online university that can compete with the University of Phoenix,” says Bilal. “I think we have over 9,000 members at EYL University. So we want that number to grow to about 50,000 or 100,000 members.”

He then revealed that he and Millings desired to own a fleet of trucks and 100 properties, open a non-public equity firm, and create a financial literacy curriculum for multiple schools.

“I feel like there’s nothing we can do,” Millings added. “We are ambitious enough to believe we can do anything. And yes, you can see us in some movies, you can see us in some short TV shows. It really is limitless.”

Ultimately, he says, their mission is to return EYL to its roots in education. “One of my passions is to get back to that and spread those seeds to communities that need us.”

has now added Invest Fest to its portfolio. Invest Fest is a three-day conference held in Atlanta designed to offer entrepreneurs with opportunities to develop and network. You can learn more about Invest Fest Here.