WEBVTT - Creative Gift-Giving Ideas (While in Debt) 0:00:16.200 --> 0:00:20.600 It's time for the b a q a A b 0:00:20.720 --> 0:00:23.400 a q a which your sir be a. 0:00:23.800 --> 0:00:26.320 Q eight with man day, let me be a q 0:00:26.440 --> 0:00:30.680 a tip a. Let me be a q a A. 0:00:31.960 --> 0:00:33.680 Hey man, you know what, we just did the same 0:00:33.800 --> 0:00:36.320 we're doing that far twin thing. We did the head 0:00:36.360 --> 0:00:41.120 at the same time. Oh man, you can't teach that 0:00:41.200 --> 0:00:42.720 kind of choreography. 0:00:43.680 --> 0:00:44.800 Either guy, or you don't. 0:00:45.040 --> 0:00:48.880 Hello, all right, what's up? B a fam Hey Tiffany, 0:00:48.880 --> 0:00:50.680 I'm excited for b a q A. You got some 0:00:50.760 --> 0:00:53.720 juicy questions you guys. If you want to semitic question, 0:00:53.840 --> 0:00:57.080 you can go to Brand Ambition Podcast on i G 0:00:57.400 --> 0:01:00.200 and slide into our d MS, or you can mail 0:01:00.280 --> 0:01:04.920 us directly at Brandanambispodcast at gmail dot com dot com. 0:01:05.240 --> 0:01:07.399 And oh yeah, we need to do the don't sue us? 0:01:08.520 --> 0:01:09.759 Oh yes, so here's the thing. 0:01:09.760 --> 0:01:15.680 This is for entertainment purposes, Holy Solemn, which means like child, 0:01:15.720 --> 0:01:18.119 do not sue us because you got to reach out 0:01:18.160 --> 0:01:21.400 to your doctor, yoloya, your financial advisor. We're not none 0:01:21.400 --> 0:01:24.240 of those things, which is two super cut brown girls 0:01:24.520 --> 0:01:28.440 on the interwebs just talking our talk, you know, not 0:01:28.520 --> 0:01:32.440 giving advice, just talking and giving a little entertainment aka 0:01:32.440 --> 0:01:34.640 Sue your Grandma not us. 0:01:35.120 --> 0:01:35.480 Thank you? 0:01:36.440 --> 0:01:39.800 All right, let's jump on in here. Instagram user Jalisa 0:01:40.120 --> 0:01:43.160 says I love the show, keep them coming, please and 0:01:43.160 --> 0:01:43.480 thank you. 0:01:44.600 --> 0:01:44.959 Question? 0:01:45.200 --> 0:01:47.480 Is it smart to have a home equity line of 0:01:47.520 --> 0:01:50.200 credit on standby in the event that you need it? 0:01:50.440 --> 0:01:52.680 We bought our house almost three years ago, and I'm 0:01:52.680 --> 0:01:54.920 not sure that we have a ton of equity just yet, 0:01:55.280 --> 0:01:58.360 but I heard a financial advisor on IG talking about it. 0:01:58.400 --> 0:01:59.920 Thoughts love y'all. 0:02:00.000 --> 0:02:02.000 Well all those IG advisors. 0:02:03.120 --> 0:02:07.440 Wow, maybe it was someone really good. But yeah, I 0:02:07.520 --> 0:02:10.880 actually I actually am considering doing just that. 0:02:11.120 --> 0:02:13.120 So okay, well let's tell the people what is a 0:02:13.160 --> 0:02:13.560 he lock. 0:02:13.919 --> 0:02:16.240 A home equity line of credit is basically turning the 0:02:16.240 --> 0:02:19.880 equity in your home into a piggybank. But don't get 0:02:19.880 --> 0:02:22.520 a twisted it is a loan. And it took me 0:02:22.680 --> 0:02:26.280 ages to sort of like understand what a second mortgage was. 0:02:26.360 --> 0:02:29.639 This is a second mortgage because you are taking out 0:02:29.680 --> 0:02:32.440 a loan against the value of your home. But the 0:02:32.840 --> 0:02:35.160 specific thing here is that it's the value of your 0:02:35.200 --> 0:02:39.840 home minus your loan balance. So like, if you have 0:02:39.919 --> 0:02:42.760 one hundred thousand dollars of equity in your home. Meaning 0:02:42.800 --> 0:02:45.160 if you owe one hundred thousand dollars on your loan, 0:02:45.639 --> 0:02:49.240 but your home is appraised for two hundred thousand dollars, 0:02:49.680 --> 0:02:52.440 that means you have one hundred thousand dollars of equity. 0:02:53.160 --> 0:02:56.800 And the other thing didn't understand about a home equity 0:02:56.840 --> 0:02:59.240 line of credit specifically, because there is such thing as 0:02:59.240 --> 0:03:01.680 just a home equity loan, which is when you will 0:03:01.720 --> 0:03:05.440 get a lump pay, a lump sum deposit of like, okay, 0:03:05.480 --> 0:03:07.760 we're going to give you, like, let's say again, your 0:03:07.800 --> 0:03:11.640 equity is one hundred thousand dollars. Lenders will some of 0:03:11.680 --> 0:03:14.600 them may give you up to like eighty percent of 0:03:14.639 --> 0:03:17.840 yours of your equity as a lump sum, but it 0:03:17.880 --> 0:03:21.880 can vary by lender. But let's say it's eighty thousand dollars. 0:03:22.480 --> 0:03:24.240 You can get that as a one lump sum payment. 0:03:24.680 --> 0:03:27.880 A home equity line of credit is you'll have that 0:03:27.960 --> 0:03:31.720 eighty thousand dollars available to you to use, and you'll 0:03:31.760 --> 0:03:35.080 have something called a draw period, which is basically how 0:03:35.160 --> 0:03:37.680 much time during this time window of time I think 0:03:37.680 --> 0:03:40.240 it's like five to ten years something like that, where 0:03:40.240 --> 0:03:44.040 you can actually use that line of credit like a 0:03:44.080 --> 0:03:46.720 credit card to pay for things around your house, whether 0:03:46.760 --> 0:03:51.200 it's home upgrades, consolidating debt, buying a car, whatever it 0:03:51.240 --> 0:03:53.320 may be. You can use the money for whatever you want. 0:03:54.640 --> 0:03:59.119 They're also usually a lot lower, lot less expensive than 0:03:59.680 --> 0:04:03.000 credit card dead or other forms of borrowing because and 0:04:03.040 --> 0:04:05.880 this is the big thing, your home is securing it. 0:04:05.960 --> 0:04:08.520 So the same with your first mortgage on your home. 0:04:08.840 --> 0:04:12.120 If you default on your payment for that loan, you 0:04:12.160 --> 0:04:16.080 could lose your home. So on the flip side of that, 0:04:16.560 --> 0:04:18.560 because the bank knows they're going to get something, they 0:04:18.640 --> 0:04:24.719 leave in here with something you don't. Yes, they're leaving 0:04:24.760 --> 0:04:26.640 there with something, and that's something is going to be 0:04:26.640 --> 0:04:28.680 the roof over your head. So they give you a 0:04:28.880 --> 0:04:34.600 cheaper interest rate. And I'm not surprised that she saw 0:04:34.640 --> 0:04:37.839 someone talking about it because so many homeowners like me 0:04:38.200 --> 0:04:40.320 who are stuck in a starter home but have a 0:04:40.320 --> 0:04:43.280 lot of equity. You know, it is an attractive option 0:04:43.760 --> 0:04:46.839 to sign up for a home equity line of credit. 0:04:46.880 --> 0:04:48.240 You don't have to use it all at one time, 0:04:48.240 --> 0:04:50.440 but you have access to it like this, like Jalisa 0:04:50.480 --> 0:04:55.360 has said, and Tiffany, as you pointed out, in harder 0:04:55.880 --> 0:04:59.039 economic times, it may not be banks may not be 0:04:59.200 --> 0:05:04.200 as willing to loan to offer helocks, so. 0:05:04.480 --> 0:05:06.479 Because they know the girl is going to be like, ah, 0:05:06.600 --> 0:05:08.360 let me go to my house, which is like a piggybank. 0:05:09.160 --> 0:05:12.240 So I'll share with you what my financial advisor, an Jelie, 0:05:12.320 --> 0:05:13.240 said she'd asked me. 0:05:13.240 --> 0:05:14.480 She said, Tiviny, do you want to go ahead and 0:05:14.480 --> 0:05:18.559 get a helock? Think about it? And I was like why. 0:05:18.680 --> 0:05:21.440 She said, well, bird on the street is you know, 0:05:21.640 --> 0:05:26.400 the people are worried about an upcoming recession, and when 0:05:26.400 --> 0:05:30.760 that happens, banks oftentimes take heelocks off the table because 0:05:30.800 --> 0:05:33.400 they know a lot of homeowners leaning on them, and 0:05:33.640 --> 0:05:35.800 oftentimes they lean in on them when they need it 0:05:35.839 --> 0:05:37.600 the most, which means you're likely not to be able 0:05:37.640 --> 0:05:40.360 to afford to pay it back. So she said, if 0:05:40.360 --> 0:05:42.320 you think that you might need access, but I had 0:05:42.360 --> 0:05:45.479 a year's worth of emergency savings saved, so she was like, 0:05:45.560 --> 0:05:48.200 it's not something I'm suggesting, just something they could think about. 0:05:48.400 --> 0:05:50.840 If you think that you might need access to additional income, 0:05:51.520 --> 0:05:55.039 your additional money, you can get one holded and that way, 0:05:55.080 --> 0:05:58.000 if something really bad happens, you have this money. But 0:05:58.080 --> 0:06:00.760 because you have a year's worth of emergency savings, essentially 0:06:00.760 --> 0:06:02.599 you have your emergency saving. Just wanted to put that 0:06:02.640 --> 0:06:06.080 out there because you also have to remember that oftentimes 0:06:06.120 --> 0:06:09.040 there are variable interest rates, which means the interest you know, 0:06:09.360 --> 0:06:11.320 the percentage that you pay on what you borrow, can 0:06:11.320 --> 0:06:14.520 go up and down. And then you know, and here's 0:06:14.520 --> 0:06:16.640 the thing. Sometimes there's closing costs and fees. So it's 0:06:16.640 --> 0:06:18.600 not just like you know a. 0:06:18.520 --> 0:06:20.680 Lot of time there are I mean, it's just like 0:06:20.760 --> 0:06:22.960 when I saw I got a quote from a lender, 0:06:23.040 --> 0:06:24.320 and when I saw that, I was like, oh, this 0:06:24.440 --> 0:06:26.719 is this really is another mortgage, like the same stuff 0:06:26.760 --> 0:06:31.800 points and closing and origination costs, and yeah, it felt 0:06:31.800 --> 0:06:33.599 like that, and I'm like, oh, this is not just 0:06:33.640 --> 0:06:34.760 a casual little. 0:06:34.760 --> 0:06:35.920 Yes, it's not something. 0:06:36.200 --> 0:06:39.440 So it's really if here's what I would say, like, 0:06:39.480 --> 0:06:42.240 you know, something to consider. If you're like, you know what, 0:06:42.279 --> 0:06:45.360 we bought this house, it's probably worth significantly more. 0:06:45.760 --> 0:06:47.920 I am a little bit worried about the job market, 0:06:48.160 --> 0:06:48.520 you know what. 0:06:48.640 --> 0:06:50.040 Let me have this kind of like and I can 0:06:50.080 --> 0:06:52.280 trust myself not to just use it. Let me have 0:06:52.360 --> 0:06:55.120 this like money, this credit set aside that if something 0:06:55.160 --> 0:06:57.240 happens in the next couple of years, we'll have some 0:06:57.400 --> 0:07:00.800 money to kind of see ourselves through or if you're 0:07:00.800 --> 0:07:03.400 someone who because there's some like even tax benefits. If 0:07:03.440 --> 0:07:05.200 you're like, yo, we want to like renovate, they have 0:07:05.320 --> 0:07:08.480 to make it even better depending how you use your 0:07:08.839 --> 0:07:12.160 your your he lock. The interest may be deductible if 0:07:12.160 --> 0:07:15.200 you use it to buy, build, or sustainably improve your home. 0:07:16.080 --> 0:07:18.280 And it requires a loan, so there might be some 0:07:18.280 --> 0:07:19.920 some tax benefits there too. 0:07:20.600 --> 0:07:22.960 Just something to think about. There's no right or wrong, 0:07:23.360 --> 0:07:25.600 just information to make the right choice for you. 0:07:26.920 --> 0:07:30.600 Yeah, I got a quote from a lender. It's better 0:07:30.640 --> 0:07:32.680 dot com. It's an online lender. It's just one of 0:07:32.680 --> 0:07:34.960 the easiest ones to get a nice little quote from 0:07:35.000 --> 0:07:37.080 if you're just curious what you might qualify for it 0:07:37.160 --> 0:07:40.480 so soft credit check. So I recommend playing around. But 0:07:40.480 --> 0:07:42.040 then you got to remember they're going to call you 0:07:42.200 --> 0:07:46.000 up every five minutes after you put in that. Okay, 0:07:46.440 --> 0:07:48.520 so put the there's a there's a special setting on 0:07:48.560 --> 0:07:52.680 your phone. Unrecognized numbers get sent to voicemail just preparing you. 0:07:52.760 --> 0:07:55.160 Sorry to Jonathan for you're doing a great job, but 0:07:55.200 --> 0:07:59.920 I don't want to talk yet. The rate that I 0:08:00.200 --> 0:08:04.720 was quoted was eight point eight seventy five percent. Well, 0:08:04.880 --> 0:08:07.440 that's one like market rates are in these days, is it? 0:08:07.480 --> 0:08:09.320 I thought mortgage? Wait, they're not under seven percent? 0:08:09.400 --> 0:08:14.240 Yeah, I don't know. I wonder like what the differences 0:08:14.360 --> 0:08:17.360 between like what tends to be the difference between like 0:08:17.360 --> 0:08:21.200 a traditional like but they're both thirty year mortgages. But 0:08:21.280 --> 0:08:24.040 again that's based on my un my husband and my's 0:08:24.120 --> 0:08:26.960 unique financial situation. Are credit scores all of that. So 0:08:26.960 --> 0:08:29.280 I'm just sharing what my information is. And I haven't 0:08:29.320 --> 0:08:31.920 yet gotten a second quote, So Jonathan, chill out, okay, 0:08:31.960 --> 0:08:32.480 because I'm not. 0:08:33.880 --> 0:08:36.320 It's its average luck rates between eight and ten percent. 0:08:36.440 --> 0:08:39.160 Yeah, yeah, and it also matters how much you're borrowing. 0:08:39.320 --> 0:08:42.400 And this is just based on I think what does 0:08:42.440 --> 0:08:46.120 it say? Sixty five thousand dollars would be the line 0:08:46.160 --> 0:08:48.960 of credit. So that's based on that amount. And you can, 0:08:49.080 --> 0:08:50.840 just like a traditional mortgage, you can choose is it 0:08:50.880 --> 0:08:54.320 thirty year, fifteen whatever? Is it adjustable rate? Is it 0:08:54.440 --> 0:08:56.920 fixed rate? This is a fixed sorry, this is an 0:08:56.960 --> 0:09:01.440 adjustable rate. And the hope, I mean my hope would be, uh, 0:09:01.559 --> 0:09:04.480 you know, as the Fed continues lowering rates, which they're 0:09:05.080 --> 0:09:08.760 trending in that direction, that maybe the rate wouldn't be 0:09:08.800 --> 0:09:12.040 going up, but I don't know that's the rate right now. 0:09:12.080 --> 0:09:13.640 On average, at least in the state of New Jersey 0:09:13.760 --> 0:09:15.920 is like seven point three percent for thirty and six 0:09:15.960 --> 0:09:18.200 point three four fifteen. 0:09:17.880 --> 0:09:19.320 So slightly higher. 0:09:19.840 --> 0:09:22.600 Yeah, but I mean, you know yourself, if you're like yo, 0:09:22.679 --> 0:09:24.480 I'm in this position, you're a nurse chod or you 0:09:24.480 --> 0:09:27.199 are never going to be un a bluid. But maybe 0:09:27.280 --> 0:09:29.719 you're in a position where during the last procession or 0:09:29.760 --> 0:09:32.040 downturn you were let go and you know you have 0:09:32.440 --> 0:09:33.920 you know, a job that kind of tends to do 0:09:33.960 --> 0:09:36.080 that or a career that tends to do that. You 0:09:36.160 --> 0:09:37.920 might want to say, you know what, let's prepare ahead 0:09:37.960 --> 0:09:40.120 of time. So that was a really great question. 0:09:40.440 --> 0:09:44.880 Helock, excellent. Just compare your rates, y'all, shop around. Keep 0:09:44.960 --> 0:09:48.880 Jonathan at bay All right, next question. 0:09:48.840 --> 0:09:50.040 We gotta take a quick break. 0:09:51.080 --> 0:09:54.640 Oh yeah, I got excited. Yeah, quick break. 0:09:58.520 --> 0:10:02.680 And we're back. So what is our next question? Because 0:10:02.679 --> 0:10:04.120 you said it was in the DMS, right. 0:10:04.559 --> 0:10:07.360 Oh no, oh, no, I made it up. That's right. 0:10:08.559 --> 0:10:10.360 So oh, this is a great time to plug the 0:10:10.400 --> 0:10:13.560 brand Ambition listener survey. Y'all, please go to the show notes. 0:10:13.559 --> 0:10:15.000 It's going to be a link to our survey there, 0:10:15.120 --> 0:10:17.040 or you can go to brand Ambition podcast dot com. 0:10:17.080 --> 0:10:18.680 At the very top of the page is a blue, 0:10:18.800 --> 0:10:22.760 bluish greenish banner that says, twenty twenty four listener survey. 0:10:23.040 --> 0:10:24.800 We haven't done one in a hot minute. I love 0:10:24.880 --> 0:10:29.840 doing surveys because y'all leave such thoughtful feedback. And anyway, 0:10:30.400 --> 0:10:33.600 based on that initial survey results hot off the presses, 0:10:33.600 --> 0:10:36.040 we have about one hundred and fifty responses so far, 0:10:36.720 --> 0:10:40.000 and I wasn't surprised, but I was like, Okay, we're 0:10:40.000 --> 0:10:43.640 going to continue talking about this topic. A large percentage 0:10:43.720 --> 0:10:46.040 of our audience is struggling with credit card debt and 0:10:46.120 --> 0:10:50.720 housing costs, So paying down debt. Out of the seven 0:10:50.840 --> 0:10:56.720 different sources of financial stress that we have here, housing costs, childcare, food, transportation, 0:10:56.800 --> 0:10:59.800 paying down debt was number one, with sixty four percent 0:11:00.280 --> 0:11:03.880 of listeners saying that was their biggest source of financial stress, 0:11:03.960 --> 0:11:07.560 and which was way more than any other topic. Housing 0:11:07.600 --> 0:11:10.120 costs was a distant second with forty five percent. So 0:11:10.679 --> 0:11:13.439 because of that, and because we're heading into the holiday season, 0:11:13.520 --> 0:11:16.560 because Tiffany and gonna be here for November, we have 0:11:16.679 --> 0:11:19.280 to get her now right, we have to do a 0:11:19.320 --> 0:11:24.520 little talk about holiday spending when you are also navigating 0:11:24.600 --> 0:11:28.400 debt and I want some real tea real advice for listeners, 0:11:28.440 --> 0:11:31.240 because I know y'all are probably feeling like I am, 0:11:31.840 --> 0:11:35.440 like I still got to get these legos. So what 0:11:35.480 --> 0:11:36.800 do we do? 0:11:36.960 --> 0:11:42.400 Well, here's some of the things that I recommend is that, like, literally, 0:11:42.480 --> 0:11:44.680 it sounds like silly, but you really do have to 0:11:44.679 --> 0:11:48.679 make a list, like making a list, chegging it twice, 0:11:49.160 --> 0:11:53.119 gonna find out if you know or not anyway, so truthfully, 0:11:53.200 --> 0:11:57.000 like if you know, okay, I'm gonna buy presents, irregardless. 0:11:57.000 --> 0:11:58.839 I know that's not a real word, but we're black. 0:11:59.080 --> 0:12:02.920 Why is it? My present is re god list? 0:12:03.520 --> 0:12:06.760 So then I want you to do it within parameters. 0:12:07.080 --> 0:12:09.719 I want you to say, Okay, I am willing to 0:12:09.760 --> 0:12:13.360 spend five hundred, six hundred one thousand whatever that is. 0:12:13.760 --> 0:12:16.079 That is within the parameters of although I have dead 0:12:16.440 --> 0:12:18.040 you know, I'm willing to do this. 0:12:18.400 --> 0:12:19.479 And one of the best. 0:12:19.200 --> 0:12:21.760 Ways to stay within those parameters, quite honestly, is to 0:12:21.960 --> 0:12:22.840 not go. 0:12:22.760 --> 0:12:24.839 To the store. The store is. 0:12:25.040 --> 0:12:32.040 Lack because when you go to the store, you're like, oh, oh, oh. 0:12:30.160 --> 0:12:32.199 Oh, I don't want to be targeted home goods. 0:12:32.080 --> 0:12:32.920 A child don't. 0:12:33.160 --> 0:12:34.960 So instead, what you're gonna do is go sit your 0:12:34.960 --> 0:12:36.920 happy behind down in front of the computer. 0:12:37.000 --> 0:12:37.200 Dora. 0:12:37.440 --> 0:12:39.080 That's a computer for those of you who don't seakpa 0:12:39.320 --> 0:12:45.960 like me and Mandy. All Right, So you're gonna see 0:12:45.960 --> 0:12:48.760 in front of your computer, and you're going to, like, 0:12:48.800 --> 0:12:52.280 you know, you're gonna like, you know, Auntie such and such, uncle, 0:12:52.440 --> 0:12:55.520 this person, whatever it is, and you're going to like 0:12:56.200 --> 0:12:58.160 create your list of what you're going to purchase and 0:12:58.240 --> 0:13:00.559 how much it costs, you know, so that way you 0:13:00.600 --> 0:13:02.760 can do your budget and your list off the same 0:13:02.800 --> 0:13:05.439 time at the in the safety of your home, and 0:13:05.480 --> 0:13:08.040 you're going to sign up for things like I love 0:13:08.720 --> 0:13:12.800 It's not ebaits anymore racketin because racketon lets you get 0:13:12.800 --> 0:13:16.480 cash back and they'll find coupons. Honey has like a 0:13:17.400 --> 0:13:20.440 it'll allow you to see Honey racketing Honey. And there's 0:13:20.440 --> 0:13:22.839 a third one, Capital One has one too. These are 0:13:22.880 --> 0:13:24.439 pop ups that pop up on your screen when you 0:13:24.440 --> 0:13:27.000 get to the payment page and says, hey, we found 0:13:27.040 --> 0:13:29.520 coupons for you. So these are like coupon finders. And 0:13:29.559 --> 0:13:32.520 when I tell you, I would say a good fifty 0:13:32.559 --> 0:13:34.720 to sixty percent of the time. Well, maybe I'm fifty 0:13:34.720 --> 0:13:36.680 to six per thirty to forty percent of the time, 0:13:37.080 --> 0:13:38.800 Like I will find a coupon. I just brought some 0:13:38.840 --> 0:13:41.280 jeans last night and it said, hey, you found a coupon. 0:13:41.360 --> 0:13:43.959 I said, okay, I pressed it. Fifty percent off coupon. 0:13:44.000 --> 0:13:46.200 I couldn't believe it that I didn't know of. And 0:13:46.280 --> 0:13:47.480 so this will allow you. 0:13:47.480 --> 0:13:48.280 Yeah kind of luck. 0:13:48.679 --> 0:13:50.640 Yeah, so it's because I use all three. 0:13:50.840 --> 0:13:52.240 This cone has been expired. 0:13:53.200 --> 0:13:55.520 Well, that's because I use all of them. Like I'm like, 0:13:55.600 --> 0:13:58.400 I have no loyalty. I use racketin, I use whatever 0:13:58.400 --> 0:14:00.720 the capital one is, and I use use honey. 0:14:00.960 --> 0:14:03.720 So between the three of them, at least something. 0:14:03.720 --> 0:14:05.480 It might only be a dialog off or free shipping 0:14:05.559 --> 0:14:08.120 or whatever, but something like thirty to forty percent of 0:14:08.200 --> 0:14:09.079 the time will pop up. 0:14:09.520 --> 0:14:11.800 And so if you do that, it'll allow you to. 0:14:11.760 --> 0:14:15.880 Say, Okay, I have outlined everything I'm buying for everyone. 0:14:16.160 --> 0:14:18.839 I know exactly what you know what I'm getting. Here 0:14:18.840 --> 0:14:21.600 are my discount and code, this is my budget. Boom, 0:14:21.640 --> 0:14:23.760 I'm done, you know. So that is one of the 0:14:23.800 --> 0:14:27.520 best ways that you can manage your holiday spending. Even 0:14:27.520 --> 0:14:29.280 if you're like I probably shouldn't buy this stuff, but 0:14:29.360 --> 0:14:33.640 quite honestly, I'm doing it anyway. Something else to think 0:14:33.680 --> 0:14:37.280 about is that, like you can collectively decide with your 0:14:37.320 --> 0:14:41.080 family to do something different this year, so you can like, 0:14:41.120 --> 0:14:43.800 so my sisters and I started this some years back. 0:14:43.840 --> 0:14:46.040 I want to say, it probably has been over ten 0:14:46.120 --> 0:14:49.000 years now where we don't actually get each other because 0:14:49.000 --> 0:14:51.160 there's five of us, so that's too many gifts. So 0:14:51.200 --> 0:14:54.840 instead on Thanksgiving we pull a name what we use 0:14:54.880 --> 0:14:58.200 this thing called ooh, it's like secret Santa dot com 0:14:58.280 --> 0:14:58.840 or something like that. 0:14:58.840 --> 0:15:01.480 It's free umber you yeah, talking about it, yes, And so. 0:15:01.400 --> 0:15:03.480 We just go on and we use the same one 0:15:03.520 --> 0:15:05.920 every year. Or Elfster I think that's what. Actually that's 0:15:05.960 --> 0:15:07.720 what I think. It's called elf Ster like elf but 0:15:07.760 --> 0:15:12.240 stir and so we go in and then it will 0:15:12.480 --> 0:15:14.640 everybody puts in their name and like kind of like 0:15:14.640 --> 0:15:17.520 the gifts they want, and then we collectively decide as sisters, 0:15:17.680 --> 0:15:20.000 so as your family, what is the budget. So when 0:15:20.000 --> 0:15:22.240 things were tough, fifty bucks, when things are better, two 0:15:22.320 --> 0:15:24.560 hundred bucks, and so we'll decide this year what the 0:15:24.560 --> 0:15:27.560 budget is, and then we'll press like Elvester will email 0:15:27.640 --> 0:15:29.760 you secretly be like your person is. 0:15:29.760 --> 0:15:32.640 Tracy, you know, and then it'll list all the things. 0:15:32.800 --> 0:15:34.360 And what's so great is that if you use the 0:15:34.360 --> 0:15:36.920 same one, like we use Elvester every year, it will 0:15:36.960 --> 0:15:38.880 say you had Tracy last year, So they will purposely 0:15:38.880 --> 0:15:39.320 not give you. 0:15:39.280 --> 0:15:41.640 The person for the year before, which is kind of nice, 0:15:42.400 --> 0:15:42.600 you know. 0:15:42.800 --> 0:15:44.120 And then you're just like all right, and then we 0:15:44.160 --> 0:15:45.920 all know the budget. You know, I get my one 0:15:45.920 --> 0:15:48.840 person the thing and that's it. So that helps a 0:15:48.880 --> 0:15:50.680 lot too. You might say, we're actually not going to 0:15:50.720 --> 0:15:53.520 exchange gifts this year. How about everybody just brings bring 0:15:53.600 --> 0:15:55.800 their best dish that they make, and then we have 0:15:55.960 --> 0:15:59.200 like a holiday pot luck. So having the conversation ahead 0:15:59.240 --> 0:16:02.480 of time Thanksgiving is a great time because the family's 0:16:02.480 --> 0:16:05.240 all there could kind of decide how we're going to handle. 0:16:05.040 --> 0:16:08.240 Gift giving this year. That's really really helpful, you know. 0:16:08.440 --> 0:16:11.960 And to do that, but also too lean into your 0:16:12.000 --> 0:16:16.280 faves like social media. Typically your favorite brands are going 0:16:16.360 --> 0:16:20.560 to give away things or codes or whatever on social media, Twitter, 0:16:20.680 --> 0:16:22.440 whatever that they actually don't have on their site. 0:16:22.760 --> 0:16:25.120 And so there are certain brands that I like to follow. 0:16:24.800 --> 0:16:26.360 And I'm like, wait, they have twenty percent off, they 0:16:26.400 --> 0:16:29.040 have thirty percent off textless. 0:16:29.560 --> 0:16:31.640 Yeah, oh yeah that textless is everything. Now. 0:16:31.680 --> 0:16:35.000 The key though, is is that you don't want to overspend. 0:16:35.000 --> 0:16:37.040 That's why you want to have your list first. If 0:16:37.040 --> 0:16:38.440 you're like, oh, I'm going to get my sister these 0:16:38.480 --> 0:16:41.120 gap jeans, I'm going to get my brother, you know, 0:16:41.240 --> 0:16:44.280 this flute from whatever, I'm going to get whatever that is. 0:16:44.360 --> 0:16:45.720 It's like you want to get on the test list 0:16:45.720 --> 0:16:47.360 from the things that you actually want to purchase for 0:16:47.400 --> 0:16:51.000 people and not and and have your budget ahead of 0:16:51.000 --> 0:16:53.560 time so you're not overspending unnecessary Seven. 0:16:57.520 --> 0:16:59.520 Well, can I share a tip, especially when you have 0:16:59.520 --> 0:17:03.200 a little kid. A huge hit for my family last 0:17:03.240 --> 0:17:05.160 year and then I'm gonna have Rio du again this year, 0:17:05.280 --> 0:17:08.320 is you can buy like a big bin of Legos 0:17:08.359 --> 0:17:10.760 for like thirty bucks, like five hundred Legos or whatever, 0:17:10.800 --> 0:17:13.520 and it comes with a little booklet of these most 0:17:13.560 --> 0:17:16.919 adorable little like figurines that you can build. And they 0:17:16.920 --> 0:17:18.960 don't take that much time. They're like for ages three 0:17:18.960 --> 0:17:21.840 and up or whatever. And Rio made the cutest little 0:17:21.920 --> 0:17:25.280 Lego characters for everybody in the family, and we wrapped 0:17:25.320 --> 0:17:29.359 him up and he wrote and tears people just oh 0:17:29.400 --> 0:17:34.560 my god. Real Mamsmiley Face and Real Mania Rainbow Heart. 0:17:35.240 --> 0:17:38.400 Oh they loved it. So that was a really great 0:17:38.440 --> 0:17:40.840 way because I want Rio to like learn the power 0:17:40.880 --> 0:17:43.879 of gift giving because he's a great little griplin. So 0:17:45.080 --> 0:17:47.879 handmade gifts from the kiddos, you can get away with 0:17:47.920 --> 0:17:49.160 that when you got the cuties. 0:17:49.160 --> 0:17:52.119 Okay, it's true. It's true. 0:17:52.680 --> 0:17:55.760 And then also too, like like thinking about gifts in 0:17:55.800 --> 0:17:58.359 different ways, like you know, I mean it sounds kind 0:17:58.359 --> 0:18:00.800 of corny, but cha, I bet you many would love 0:18:00.800 --> 0:18:03.040 a gift. It was like, you get ten free babysittings 0:18:03.080 --> 0:18:05.120 this year. It's like, girl, holy done. 0:18:04.960 --> 0:18:08.120 My god, that's a thousand dollars present. I mean ten 0:18:08.160 --> 0:18:11.479 times one hundred dollars. I mean, you know, so no 0:18:11.480 --> 0:18:15.560 one told about the babysitter tax have a happy marriage. 0:18:15.560 --> 0:18:16.640 And so that's the thing. 0:18:16.800 --> 0:18:18.920 So imagine, like with the people that you really really 0:18:18.920 --> 0:18:23.440 care about, is there service you can give instead of presents? 0:18:23.800 --> 0:18:25.600 You know, like, oh I can babysit, I could walk 0:18:25.640 --> 0:18:27.960 the dog, I can come over and do dishes, I 0:18:28.000 --> 0:18:32.040 can make dinner, you know, so consider doing that. But 0:18:32.200 --> 0:18:34.159 having the key with all things when it comes to 0:18:34.240 --> 0:18:36.840 money is having the conversation ahead of time and not 0:18:37.000 --> 0:18:39.480 just doing the thing, you know, so that way people 0:18:39.560 --> 0:18:41.880 understand like, hey, this year, I want to try something different. 0:18:42.119 --> 0:18:44.320 How would you feel, everybody, family if I gave service 0:18:44.359 --> 0:18:49.000 this year? Oh I love that okay? Or like you know, 0:18:49.080 --> 0:18:50.800 like even when I go all my my girlfriends for 0:18:50.880 --> 0:18:52.760 like dinner, I'm like, all right, So how are we 0:18:52.800 --> 0:18:53.040 doing it? 0:18:53.080 --> 0:18:54.120 Are we splitting evenly? 0:18:54.520 --> 0:18:56.960 Do we have like a certain like stay under you know, 0:18:57.040 --> 0:19:01.920 the you know, the threshold having pre conversations about anything money, 0:19:01.960 --> 0:19:04.120 but especially about the holidays. It's really going to save 0:19:04.119 --> 0:19:06.679 you from a lot of frustration and heartache and heartbreak. 0:19:08.119 --> 0:19:10.120 Like Jenelle and I used to like say no gifts 0:19:10.480 --> 0:19:12.880 then instead we were just gonna go and go somewhere, 0:19:13.760 --> 0:19:15.840 you know, So that way it'd be like, Okay, no gifts. 0:19:15.880 --> 0:19:17.040 Or if you are going to like, you know, slip 0:19:17.119 --> 0:19:18.359 up because you want to do something sweet, keep it 0:19:18.400 --> 0:19:20.560 under twenty five bucks or whatever, and then we would 0:19:20.560 --> 0:19:23.040 put the money in our travel account and then we 0:19:23.080 --> 0:19:24.160 would just have the best time. 0:19:24.240 --> 0:19:25.640