Travis Kelce Genius Money Move, FICO Score Tips, & Rihanna’s Net Worth Reviewed | Financially Us

today on financially us we're tackling former Bachelor Joey gr's credit score issue and how it may affect him down the road Plus at Jason and Travis Kel's gigantic podcasting payday and Heather Deo shares the best financial advice she's ever received plus we're taking a look at Rihanna's rise to becoming a [Music] billionaire I'm Christina garabaldi and welcome to financially us where we'll dive into into everything from celeb's paychecks to the best financial advice from the richest Stars I'm so excited because today I am joined by Lynette calani Cox aka the money Coach Lynette I am so excited to have you here thank you so much for joining me thank you my pleasure and it's a great topic it really is celebs and money what more can we ask for all right so let's get right into it and start with Fame and finances so our celeb money news of the week and we're starting with Bachelor nation's Joey so Joey recently appeared on a June episode of Jason taric's trading Secrets podcast and he actually revealed his FICO credit score dropped 80 points due to missed credit card payments when he filmed season 28 of the reality dating show he further spoke um about this in an Instagram story and SP with a sponsored ad from Credit Karma saying my credit score did in fact dropped by a substantial amount when I was away on the show this all came from me missing one small payment when I was away on the show for 3 months it resulted in my credit score taking a large hit but since that time I've been able to raise my credit score this can happen to anyone so Lynette let's start with the basics what exactly is a FICO score and how massive is an 80 Point drop well uh FICO credit score is one type of credit score there's actually a ton of them there's the Vantage score which is the score from the three credit bureau's Equifax Experian Trans Union but essentially it's telling lenders and the financial community how well you've handled your credit obligations your mortgage your credit cards your student loans uh your car note Etc and in terms of Joey's situation he's right that it actually can and does happen to people if you even miss one small payment I don't know how big his payment was for his credit card but honestly it doesn't matter Christina if it's a $20 payment a $200 payment or a $2,000 payment people are so shocked to hear that just one late payment being 30 days or more late on a payment can lower your FICO credit score by 100 points or so so yes that's massive when it comes to your overall credit score so he's right if you're if you're late even if you just accidentally forget it can ding you which is one of the reasons you want to put your stuff on autopay especially if you're traveling busy working Etc make sure you pay at least the minimums definitely I guess he was more nervous about dating 30 women rather than worrying about his auto pay but you kind of said it before that 700 is about that good credit so where exactly do you want to be do you want to be between that you know 650 750 range and you said before you know if you have a bad credit it's going to affect your mortgage uh maybe buying a car these big purchase items things like that that's right and having a poor credit rating unfortunately it it affects you in more ways than simply the interest that you'll pay on a variety of loans you might not be able to get uh a place to rent because landlords are going to check that for some people you might not be able to get certain jobs because some employers do credit-based employment screening to determine who to hire and even sometimes who to promote so you definitely want to keep your credit in tiptop shape now overall yes having a 700 or higher FICO score or Vantage score is good you're very solid there but frankly uh one of the things that I talk about in my book bounce back about how you recover from mistakes uh of all kind personal or financial um is that having a 760 is even better 760 to 850 puts you in what I call the perfect credit scoring range and then that's where lenders are going to kind of like fall all over themselves to do business with you you'll have a much easier time getting approved and in fact you will have the best loan rates and terms that are ail available in the marketplace so if you can you want to Edge it up to 760 or higher all right such great advice all right let's move on over to Travis Kelsey and Jason Kelsey because I think a lot of people would like to be them right now because they are making some huge money moves they have signed deal with podcast studio wondery for the rights to their popular new heights podcast according to a report published by The Hollywood Reporter they have a reported deal in the $100 million range um Travis Jason and wonder CEO Jen Sergeant shared their excitement as I would too in a statement to The Hollywood Reporter with Jen saying we've been watching the growth of the podcast really since it was launched and I have been building a relationship with Travis and Jason and getting to know them for a while now Sports is a really exciting category for podcast listeners it's a strategic priority of wondery and Amazon so there are a lot of reasons to think about joining forces $100 million massive massive figure especially compare that number yeah to Travis's contract for the Kansas City Chiefs where he's being paid about 34.25 million I mean not bad as well we see in the likes of Joe Rogan and caller Daddy's Alex Cooper reach a massive nine figure deal for their podcast how does a company kind of recoup these costs down the line with a deal like this well it's all about U monetization really what they're looking to do is to leverage these two now kind of bigger than life brothers and they're just so humorous they're down to earth they both have massive followings and let's not forget about that little Aster for that that other little that that famous um little singer that has elevated his platform a little bit too let's say so what they're yes is to is to monetize their platforms and the ways in which that they will reach an audience through the platform yes through the podcast but also you better believe they're going to have merch they're going to have other ways through advertising through um deals that come to the table that elevate their you know brands that allow them to recruit this money but at the end of the day it's the advertising it's the the monetization in very creative ways that's going to make this you know that hundred million doll deal is probably you know a bargain for for what they're getting out of out of those too oh definitely and you know you know kind of don't quit your day job comes to mind for people who try to pick up podcasting or other similar creative Endeavors um in the case of Travis where do you kind of do you feel like this is probably like the future for him as well I do I mean listen anybody who's an athlete should you know really understand that of course you have a limited uh time span in terms of your career whether that's NFL NBA uh baseball Etc and you should extend your 15 minutes of fame so to speak and be creative about the ways in which you try to accelerate your wealth through things that are not on the field or on the basketball court or on the baseball field Etc so um yeah I think overall both of them frankly are smart um in their you know respective stages um to really look at other ways to stay engaged with the public to monetize and to uh increase their longevity in the public eye definitely you mentioned before do you feel like if maybe he wasn't dating her they wouldn't I yes the podcast was successful beforehand he was a household name beforehand but he is a world famous superstar now do you feel like if that relationship wasn't in play maybe he wouldn't have gotten this huge payday listen Christina I'm G be honest no way on God's green earth what what they have gotten this deal and listen no knock on him obviously because he's like you said you know was known but not globally known not internationally known and the Taylor Swift effect is huge just think about the number of people that her presence and her dating him brought to uh football you know whether it's women watching um you know gen Z Millennials Etc and it it kind of reminds me of Beyonce you remember the beyon song upgrade you oh yeah totally you know it's about Mutual support and collaboration but she has a line in there that basically says yeah when you're in those big meetings trying to get the Mills the Millions for the deals you know take me to kind of seal the deal and to sweeten the deal you know so I'm not saying that Taylor walked into the meeting with him but you can be sure that they knew that there's this Alliance this team and there's this interest in their relationship Etc so yeah they're going to get more listeners to the podcast more downloads higher revenues Etc in terms of advertising absolutely because of the Taylor Swift effect as well 100% And she's making the NL a lot of money too is all right well each week we're highlighting celebrities rise to riches and this week goes to our girl Rihanna who is quite literally on the money when it comes to financial decisions according to Forbes her reported net worth is around 1.4 billion but what has helped her get to this level she sold over 250 million records worldwide making her one of the bestselling music artists ever with income streams coming in from record-breaking tours to merchandise and here's the kicker she actually hasn't released an album since 2016 so it's been eight years um a lot of this money comes from Fenty Beauty which launched in uh 2017 her focus on inclusivity with a wide range of foundation Shades transformed the beauty industry and it generated over 100 million in sales just within its first few weeks um in 2021 Forbes estimated the value of Fenty Beauty at around 2.8 billion with Rihanna reportedly owning a 50% stake get that money she also launched her lingerie line Savage by Fenty and the Brand's inclusion of diverse sizing and Powerful marketing has helped it grow um by 2021 it was reported that that was $1 billion and finally she has made a significant investment in real estate she owns multiple properties including luxury condos Mansions you name it she owns it and she's got the money to uh spend on it so when it comes to Rihanna's success and wealth what are some things that really stick out to you well I mean Rihanna is a financial Savage okay because my girl is just working it at so many angles I love the fact that she really um highlights and appreciates ownership so you mentioned of course her 50% Equity stake that's a huge part of her wealth and her net worth in the in the Fenty brand but really the thing that I kind of like most about her is that she's like doing it her way you know she's like making people on social whether it's on X or on you know Instagram or whatever or Tik Tok people are like when is the album coming girl but they're still sticking around it's been eight years but they're still you know huge Rihanna fans so she knows how to do just enough to tease and to leave people wanting more she speaks her truth she's her authentic self you know her and her partner they're beautiful kids they're just out there living their best lives you know she goes back home to the Caribbean and she just you know gives back in so many ways so I think that just literally just kind of like being her authentic self and being true to who she is um as a partner um you know just as a mom she's just really elevated her brand in creative ways that allow her to leverage her celebrity status and to financially benefit from it as well so she not out there slaving away in other words like cranking out you know album after you know album or song you know every year no she's like I'll get to it when I'm ready you know and you know yeah but you make a good point like she kind of sprinkles it she's like I'm gonna you know perform at the Super Bowl that'll hold you exactly a little bit but you know so many celebrities have successful Beauty lines and Brands and fashion lines you know we got rare Beauty from Selena Gomez Kylie Jenner of course skins from Kim Kardashian but Fenty Beauty I remember when it came out and like it really changed the beauty game with you know the the so many different shades of foundation for so many different women do you think that that's what made it so successful I do think that it's become enormously successful because of Rihanna's iconic status and her you know role as a game changer at so many levels um not just in the Beauty World of course but in fashion I mean look at what she's done at the Met Gala like people look forward to just what is she going to be wearing and so she's been able to translate that sort of iconic uh gamechanging nature and her own creativity and her willingness to take risks in creative ways throughout you know a variety of creative Industries you know whether that's fashion or beauty or her um work as an artist uh musically Etc and so I think it's just a combination it's again it's it's kind of like her entire Aura is about I'm doing this my way thank you very much and you know she can just be let her hair down and just you know you'll see her some pictures swimming in the Caribbean or something and then just like this total Glam goddess made up and then it's like wow I want what she's selling you know all right well in today's free advice we chatted with real house eyes of Orange County's Heather de bro since viewers have seen her make several real estate Investments on the show including a $16 million Beverly Hills mansion she knows a thing or two when it comes to finances take a look the best financial advice I could give someone else is make sure that you and your partner are communicative and you're on the same page when it comes to finances and Investments you must be a partnership you must have a system of checks and balances or it goes down Terry and I were in that position once and we recalibrated everything must do that all right well great advice from Heather de bro I'll have what she's having as well all right well thank you so much for joining me today Lynette this was so much fun thank you thank you my pleasure I'll come back anytime I would love to have you and for more episodes of financially us make sure to subscribe to our YouTube channel and follow usmagazine.com