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When the only thing at that level of the pyramid they need to do is nail that credit card debt. >> there are very few investments that you can get that will get you the return of paying down your debt that, as you said, you might be paying 19% for. >> yeah. >> after you've handled cash flow and after you've handled debt, then and only then do you start thinking about the next level, savings. >> 10% of your gross income. a lot of people say, bruce, all of this is so complicated. how do i keep track of it all. there's so much to think about. there isn't. save 10%. are you doing that? yes or no. ...

president used the state of the union to assure americans that he shared their top concern. >> i realize that for every success story, there are other stories. of men and women who wake up the anguish of not knowing where their next paycheck will come from. who send out resumés week after week and hear nothing in response. that is why jobs must be our number one focus in 2010. >> number one focus in 2010. let's look at the results, more than 1.1 million jobs added in 2010. look at the right side, that's the interesting part, 1.3 million jobs were added in the private sector. the rea...

We be telling them more of? >> we have to keep focusing on these base messages. and hopefully have some fun while we're doing it. that's why i called the book "moolala." it's not about money itself, it's about the tool. so often people disconnect their dreams with the financial fuel that will bring them to life. >> that is excellent. bruce, thanks so much. i've been looking forward to this book for a long time. you are a guy that thinks that if people are not getting the message, it's not worth putting the message out, so i hope lots of people get it. the book is fantastic. i've got a messag...

My next guest is an old friend, a business journalist and author of "moolala" bruce ellery joins me from new york. welcome back to new york. the book, you emphasize that people need to figure out first what their money is for before they learn how to manage it. why does that make a difference? >> because that's their vested interest. no one wants to do the boring stuff. and managing your money can be really, really boring. but when you have an answer to the question of what my money is for, people do it. so people say money is for adventure, freedom, travel, for my kids. when you're clear on t...

If it is your thing, great. but you have torn your way to the top of the pyramid. >> so that's brilliant because people come to me without having looked at any of that stuff on the pyramid and tell me do you think i should sell this stock and buy that stock. your point is, wait a minute, have you handled everything below that before you start to tweak or optimize right at the top of your pyramid. >> absolutely. and i'm not even going to talk to you about that stuff until you've done the stuff at the lower levels. >> bruce, you've written an entire book on this. it is based on the feedback that...