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Speaker 1: It's time full the b a q a a, the

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Speaker 1: b a qep.

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Speaker 2: A Okay, the big a qa hey brown ambition question

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Speaker 2: to answer where you have questions and we have answer ish.

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Speaker 2: We're just two smart brown girls who are just sharing

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Speaker 2: our opinion. But we are not your attorney, we're not

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Speaker 2: your certified financial planner, we're not your accountant, so certainly

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Speaker 2: reach lean into them for the final say.

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Speaker 1: But you know, we have a little suy here too. Okay,

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Speaker 1: we know some stuff. We definitely know some stuff. All

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Speaker 1: career and money questions, y'all continue to hit us up

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Speaker 1: with those. Go to Brandimission podcast dot com click ask

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Speaker 1: us anything, or you can just hit us up directly

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Speaker 1: send us a DM. We are at Brandabission Podcast on

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Speaker 1: the gram also Brandamission Podcast at gmail dot com dot com.

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Speaker 1: You will be taking your questions. Give us a fun

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Speaker 1: name though, you know, if you want to be anonymous,

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Speaker 1: give us little pen name, the pseudonym you wish you

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Speaker 1: had that you used for all your you know, your

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Speaker 1: childhood fan fiction on the internet.

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Speaker 2: Sick name Sally, okay, or like Big Booty Judy.

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Speaker 1: I'll never know my fan fiction pen name. Never. Well,

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Speaker 1: let's get into we got some fun money questions today.

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Speaker 1: You excited? I am. Let's start with listener TD A

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Speaker 1: bank fame. I don't know all right, TD says, Hey,

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Speaker 1: ba team, I love the show and love you too,

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Speaker 1: doube Queens. I'm so glad Tiffany's Backish, I've been praying

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Speaker 1: for you, and I've led two book clubs with getgu

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Speaker 1: with money Woo woo. A stand Yes, while I would

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Speaker 1: like to remain anonymous, Yes, TD is your pen name.

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Speaker 1: I hope you will consider this question for the Friday

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Speaker 1: Q and A. First, I'm not even gonna look at

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Speaker 1: my four oh one K or my roths, which I've

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Speaker 1: totaled about three hundred and fifty to four hundred thousand

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Speaker 1: dollars in the good old days aka two weeks ago.

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Speaker 1: I'm locked in for the ride until I'm fifty nine

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Speaker 1: and a half. In time is on my side. This

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Speaker 1: is so true. Second, my emergency fund is about thirty K,

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Speaker 1: which is about six to eight months of expenses right

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Speaker 1: now in a high yield savings account. My house and

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Speaker 1: cars are paid in full. I have about sixty K

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Speaker 1: and three mutual funds that are being hammered right now.

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Speaker 1: I've had fifteen K and losses since Friday. I had

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Speaker 1: a goal of having one hundred thousand dollars in my

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Speaker 1: emergency fund in the next one to two years. I'll

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Speaker 1: be closer and feel a bit more secure if I

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Speaker 1: can move fifty K to my emergency fund. I'd also

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Speaker 1: like to purchase ten K and I bonds. So here's

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Speaker 1: my question. Would it be unwise to move the mutual

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Speaker 1: funds to my high yield savings and replenish them later

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Speaker 1: by continuing to invest in the downturn? Here's the caveat.

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Speaker 1: I'm thinking of taking an adult gap year or global

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Speaker 1: nomadding in mid twenty twenty three, and I'd plan to

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Speaker 1: liquidate my mutual funds for that life event next year.

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Speaker 1: Any perspective you could offer would be great. Thanks, Ned,

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Speaker 1: advance ted first and foremost. TV is impressive girl, Okay,

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Speaker 1: can we look? Can we stand for this system? Right here?

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Speaker 1: We can stand? Yes, four hunderd K in her four

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Speaker 1: oh one K. Yes, emergency fund, six to eight months

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Speaker 1: of expenses saved in the high yield savings, house and

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Speaker 1: car paid in full. Boom boom damn. She should have

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Speaker 1: co written Good with Money, No, not just led the

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Speaker 1: book clubs, I feel like, but she's so, I get

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Speaker 1: this sense. She's basically so, she's talking about her investment

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Speaker 1: account outside of her four oh one K. So she's

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Speaker 1: got like a brokerage account and she's got sixty K

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Speaker 1: in there where she's being invested. She's been investing in

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Speaker 1: mutual funds, which are being hammered right now, aren't we

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Speaker 1: all right? Yes? And she wants to know if she,

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Speaker 1: if she, if, what would we think about her dipping

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Speaker 1: into that brokerage account, selling those investments and then selling

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Speaker 1: fifty thousand dollars worth of those investments and putting them

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Speaker 1: in her emergency fund and then using the ten K

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Speaker 1: of those funds two or ten K of her investments

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Speaker 1: that are in mutual funds right now, liquidating them and

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Speaker 1: purchasing eye bonds instead. Good question, juicy.

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Speaker 2: I know one, you're thinking, well one, I'm thinking, like,

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Speaker 2: this is the fact, is you you for even okay?

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Speaker 2: You found them back. I'm stuttering because I'm like, my

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Speaker 2: miscreaction is like leave it alone, Sis, But you do

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Speaker 2: have a special case because Sis got going on her.

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Speaker 2: You know, her retirement accounts looking cute and good. She

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Speaker 2: doesn't have the major debt that everyone else has. I'm

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Speaker 2: assuming you probably don't have credit card debt either, because siss,

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Speaker 2: house paid off, car paid off, you sound a good

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Speaker 2: credit card debt free CISK. And then the fact that

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Speaker 2: you have your your emergency fund funded six to eight months.

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Speaker 2: So normally i'd be like, no, leave it alone, but ugh,

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Speaker 2: because I don't know what the market is gonna do.

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Speaker 2: You know, you've already lost ten to fifteen thousand dollars

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Speaker 2: and it might get worse or I guess my concern

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Speaker 2: is locking in the loss versus taking your money and run. Normally,

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Speaker 2: if you weren't going to take this money so that

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Speaker 2: way you could know mad in mid two thousand, mid

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Speaker 2: twenty twenty three, i'd be like, leave it, you know,

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Speaker 2: don't don't lock in the loss by drawing your money.

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Speaker 2: But because it's for something specific, I mean, if.

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Speaker 1: You want to do it, I'm not going to stand

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Speaker 1: in your oasis.

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Speaker 2: But don't tell nobody I told you, you know, because

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Speaker 2: like I said, normally, i'd be like, don't do it.

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Speaker 2: But because you have so you're so strong everywhere else financially. Yeah,

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Speaker 2: because my concern is this recession is not looking like

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Speaker 2: it's not looking like what the last mini recession looked like,

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Speaker 2: which was like an instant bounce back, you know, like

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Speaker 2: it went down the right back up again. It's looking

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Speaker 2: like it's only gonna get worse before it gets better,

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Speaker 2: and we just don't know how much how much worse.

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Speaker 2: So I A'm mad at you. I'm mad at you

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Speaker 2: because you have the rest of your financial life together.

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Speaker 2: So if you want to do it, I mean you

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Speaker 2: might see me right alongside with you. You see me now,

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Speaker 2: I'll say, ooh, you have to tell me nothing now

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Speaker 2: that I am recording in the upstate New York instead

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Speaker 2: of my house. But I'm like, oh, look at me

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Speaker 2: traveling and doing the Paul guests, so you might have

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Speaker 2: me right along with you.

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Speaker 1: I was excited for you to do the show on

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Speaker 1: the back of a camel in Jordan, but that didn't happen. Maybe,

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Speaker 1: oh that's really not happening. Ah, this is really interesting

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Speaker 1: because it's so timely right. So, and she's talking about

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Speaker 1: you know, she was thinking she wants to basically take

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Speaker 1: this money out of the market so to so snatch

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Speaker 1: it up while she still can before she loses even more.

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Speaker 1: But what's important here and the reason you're giving the

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Speaker 1: advice you are, and I want to make it clear

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Speaker 1: to our audience. It's different than what we usually would say.

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Speaker 1: Her time horizon is so much shorter now. She's talking

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Speaker 1: about she was wanting to use this money for mid

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Speaker 1: twenty twenty three. That's only a year away. And she

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Speaker 1: had planned to use this money to global nomad, which

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Speaker 1: is incredible, right, that's only a year away. And like

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Speaker 1: what Tiffany is saying is with the way that trends

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Speaker 1: are showing right now, things may get worse before they

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Speaker 1: get better. It's possible that if she were to leave

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Speaker 1: it tied up in mutual funds in the market. Let's

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Speaker 1: just assume I don't know what the mutual funds are holding,

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Speaker 1: but let's assume they're all stock index fund or things

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Speaker 1: like that. Tracking the S and P. It's looking like

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Speaker 1: things will get worse before they get better, so she

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Speaker 1: could lose even more. She needs the money in the year.

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Speaker 1: It'd be different if this was what the money that

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Speaker 1: she was investing for her retirement. She's got that in

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Speaker 1: a separate bucket. Retirement bucket is looking amazing four hundred

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Speaker 1: K in a four to one K, So this is

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Speaker 1: her you know, her wealth building fund on the side,

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Speaker 1: So yeah, I can I can understand Tiff why you're

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Speaker 1: saying what you're saying. It's scary to me still, but

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Speaker 1: you know, it's really scary to me still. I love

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Speaker 1: that she's I like that she's doing the eyebonds. Here's

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Speaker 1: the thing, you know, so what are let's talk about

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Speaker 1: some ways to yield a higher return out of the

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Speaker 1: stock market. So if she's gonna take sixty k out

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Speaker 1: of this fund, then what could she do? I think

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Speaker 1: ten k and I bonds is great. We talked about

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Speaker 1: eyebonds a few weeks ago. They're getting super sexy and

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Speaker 1: exciting now because they guarantee I think a nine percent

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Speaker 1: nine point sixty two percent. At the time, I should

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Speaker 1: double check that they are meant to hedge against inflation,

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Speaker 1: and with inflation being as high as it is, the

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Speaker 1: interest rate on ebonds was like over nine percent, and

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Speaker 1: that's guaranteed. You can contribute ten k per year in

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Speaker 1: an ibond. So if you want go back and listen

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Speaker 1: to that episode we talk all about it. That's smart,

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Speaker 1: but an emergency savings fun. I mean I did get

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Speaker 1: an alert from my online only bank that the savings

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Speaker 1: rate is going to be going up I think two

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Speaker 1: point nine percent or one percent now, which is hoo exciting,

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Speaker 1: But at least look into CDs. I would say, like,

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Speaker 1: I don't know what CD rates are right now, but

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Speaker 1: you know, CDs can make sense if you are okay

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Speaker 1: with tying up your money for a little bit of time.

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Speaker 1: I mean there's CDs as short as like three or

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Speaker 1: six months, sometimes as long as I don't know, five, seven,

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Speaker 1: ten years. You're going to need your money in the

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Speaker 1: next year, so see what twelve month CD rates kind

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Speaker 1: of look like. You may not need. You're going to

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Speaker 1: need some money at the beginning, sorry, some money next

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Speaker 1: year when you start your travels. You may not need

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Speaker 1: it all at once, though, So there's something called a

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Speaker 1: CD ladder where you can choose CDs of different links

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Speaker 1: so that they mature and you can withdraw the funds

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Speaker 1: in a staggered pace. So you could do a six

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Speaker 1: month CD, at twelve month CD at eighteen month CD

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Speaker 1: at twenty four months CD to kind of like carry

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Speaker 1: you through your travels, and then each time they mature

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Speaker 1: you can withdraw the funds and then you know your

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Speaker 1: money will have grown, probably not at an enormously amazing

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Speaker 1: rate because rates are still pretty low but better than

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Speaker 1: what you may get from an emergency fund. And because

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Speaker 1: they are CDs, they're held by FDIC insured institutions, so

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Speaker 1: you have security there as well, like you're not going

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Speaker 1: to lose your money, which is of course different to

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Speaker 1: money you lose in the stock market, because nothing we

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Speaker 1: can do about all that. No, that's really smart.

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Speaker 2: I really like that because it's like it's like a

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Speaker 2: it's a good mix of our innate girlly that money alone.

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Speaker 2: But also I get it because you've done everything else

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Speaker 2: really responsibly and you deserve to no mad if you

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Speaker 2: want to know bad, especially with what's happening in USA

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Speaker 2: the USAA, but to do so in a way you

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Speaker 2: know that you know where you get to make a

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Speaker 2: little bit of money on your money. It's not just

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Speaker 2: sitting you know, in your in your savings account. I

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Speaker 2: think that's that's brilliant. Let us know where you planning

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Speaker 2: on going, CYS. I would love to hear, right, I'm like.

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Speaker 1: Just want to be your friend, I know, right. I

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Speaker 1: was like, you want to come on because she sounds dope.

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Speaker 1: We need a third co host. I don't know that's incredible. Well,

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Speaker 1: good try, I mean, good luck. That's so exciting, and

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Speaker 1: talk about setting goals and then going out and freaking

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Speaker 1: reach them. Didn't even mention that she still has thirty

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Speaker 1: K and her emergency fund on the side too, so

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Speaker 1: she's covering literally all her bases. Yes, but I would

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Speaker 1: also end this with this might be a good one

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Speaker 1: time meet with a financial planner to get a strategy

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Speaker 1: in place. I think maybe TIF and I can help

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Speaker 1: you with like the beginnings of thinking about that. But

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Speaker 1: I would love I mean, you can probably get a

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Speaker 1: financial planner to talk to you, you know, as an

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Speaker 1: initial call, just to like strategize this particular instance of

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Speaker 1: your money, just to get that extra you know, professional opinion,

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Speaker 1: and they can look at your whole picture very carefully

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Speaker 1: and give you real specific advice in that case exactly for.

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Speaker 2: Like one hundred and fifty two hundred and fifty bucks.

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Speaker 1: So yeah, you could do that. Yeah, all right, y'all.

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Speaker 1: Should we take a quick break and come back with

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Speaker 1: another of your questions? This is a ba Q and A.

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Speaker 2: And we're black. Get back.

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Speaker 1: You want to read this one? Sure?

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Speaker 2: Our next question is from Chanel. I hope you don't

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Speaker 2: mindus using your name because you didn't say it was anonymous.

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Speaker 2: So Hi, my name is Chanelle and I had a

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Speaker 2: quick question with tales of the recession coming, what should

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Speaker 2: we be doing to prepare? If this was already answered

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Speaker 2: in a podcast episode, would you be able to tell

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Speaker 2: me which one? Thanks for your help, so now we

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Speaker 2: might have but cis with what's going on now we've

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Speaker 2: find to answer it again. Okay, So how should people prepare?

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Speaker 2: And how are you preparing, Mandy for the upcoming recession?

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Speaker 2: I feel like it's like a party, like, all, how

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Speaker 2: are you doing what you know for the recession? Girl? Over?

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Speaker 1: There is recession girl summer?

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Speaker 2: Is that a thing? Yeah?

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Speaker 1: So the thing is. That's one of the reasons why

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Speaker 1: this week I held a free workshop called Recession Proof

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Speaker 1: your Career, because I believe very strongly that so much

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Speaker 1: of our career is the root of our financial of

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Speaker 1: the ability for ourselves to grow our finances. So professionally,

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Speaker 1: what you can do to sort of hedge against recessions

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Speaker 1: and tough economic times are to always be investing in

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Speaker 1: your own skills and the value you bring to companies.

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Speaker 1: The people who will be in most danger of being

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Speaker 1: cut you know, and if companies do decide to downsize,

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Speaker 1: they as they have been doing, are the ones whose

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Speaker 1: skills can be easily replaced or automated. So what are

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Speaker 1: you bringing to the table that is going to make

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Speaker 1: you super valuable? And maybe you are released from your job,

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Speaker 1: but will other people be looking for someone with your

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Speaker 1: skills and talents? Sometimes people are laid off through no

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Speaker 1: fault of their own or not because the company doesn't

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Speaker 1: need their skills. But companies just got to make their

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Speaker 1: They got to make the books. You know, the math

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Speaker 1: has to math for Wall Street to be happy with them, right,

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Speaker 1: so they make these drastic cuts. Doesn't mean that your

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Speaker 1: skills are not needed? But will other companies want them?

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Speaker 1: So I'm always thinking about, like, what are the skills

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Speaker 1: that I have today? And then will multiple companies be

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Speaker 1: interested in me? I think that's a great way to

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Speaker 1: give yourself some professional security. Don't wait until times are

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Speaker 1: difficult either to actually reach out to your network and

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Speaker 1: to keep your network warm, because it's a lot harder

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Speaker 1: to reach out to folks for help or for referrals

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Speaker 1: or for like help you know, getting a job or

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Speaker 1: whatnot when things are really dicey and everyone's sort of

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Speaker 1: stressed out. I think it's better to cultivate those relationships,

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Speaker 1: you know, always. And I think our previous question too,

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Speaker 1: was a really good example of like, I don't know

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Speaker 1: how to look at your where you have your money

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Speaker 1: now and doesn't make the most sense for you, you know,

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Speaker 1: are you? And I think it's a good time to

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Speaker 1: like be restructuring your investments if you're overly risky, Like

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Speaker 1: maybe your risk tolerance for investing in the stock market

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Speaker 1: is not as strong as you thought it was, and

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Speaker 1: you can't sleep, you know, and you have so much

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Speaker 1: of your investments tied up in stocks, and maybe it's

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Speaker 1: time to rethink that maybe you're getting older or you

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Speaker 1: just you know, can't handle the anxiety, and maybe you

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Speaker 1: need to shift some over into less risky investments. Like

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Speaker 1: our last listener, she asked about eyebonds. You know, there's

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Speaker 1: other forms of bonds you could purchase as well that

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Speaker 1: are protected, you know, high yield savings CDs, things like that.

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Speaker 1: I mean, there's a there's a bunch you can kind

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Speaker 1: of do.

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Speaker 2: What do you think, TI, Well, I would say, well,

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Speaker 2: first and foremost, I need you to figure out what

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Speaker 2: your noodle budget is I mean, this is when I

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Speaker 2: survived the two thousand and nine session. That was a

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Speaker 2: mistake that I made that I did not quickly drop

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Speaker 2: down and get your noodle on girl. Eh, drop down

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Speaker 2: and get your new girl. So your noodle budget is

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Speaker 2: like think back, like if you had to eat Ramen

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Speaker 2: noodles like college, right, Meaning if I look at my

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Speaker 2: budget and let's just say, my life cost me five

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Speaker 2: thousand dollars a month mortgage, car know everything, right, but

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Speaker 2: it also includes like hair done, nails and everything did,

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Speaker 2: but my life could potentially cost me four thousand dollars

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Speaker 2: a month if I cut out the things that are

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Speaker 2: not necessities. Right. So I'm not saying you should live

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Speaker 2: at your noodle budget, but you should know what it is.

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Speaker 2: That way, if really the shit hits the van, for

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Speaker 2: lack of a better word, then you know instantly what

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Speaker 2: you can cut out. You know, because too many people

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Speaker 2: were losing their homes and still had cable. And when

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Speaker 2: I say too many people, I am people. You know.

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Speaker 1: I was still face like one.

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Speaker 2: Hundred and something dollars a month for cable and I

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Speaker 2: lost my home to foreclosure, and it was like, not

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Speaker 2: that one hundred something dollars a month would have saved

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Speaker 2: my house. It wasn't about the house at that point.

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Speaker 2: That was grocery money for me, you know, that was

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Speaker 2: other bills that could have been paid. So one identify

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Speaker 2: your noodle budget. You don't have to drop down to

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Speaker 2: it yet, but just know if times get tough, you can.

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Speaker 2: So that's one of the things. Something else too, is

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Speaker 2: like sometimes you have to identify even more than your

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Speaker 2: noodle budget.

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Speaker 1: I call it my health and safety budget.

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Speaker 2: So noodle budget is I can still pay the bills,

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Speaker 2: but I just don't have the excess. My health and

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Speaker 2: safety budget is what I had to drop down to

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Speaker 2: when I lost my job during the recession, the two

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Speaker 2: thousand and nine recession, and I lost my house to foreclosure.

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Speaker 2: Now is really really struggling, and the health and safety

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Speaker 2: budget is ain't nobody getting paid unless it supports my

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Speaker 2: health and my safety. That meant they were people like

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Speaker 2: my credit cards that were late, and I had to

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Speaker 2: be okay with that because nothing is I am more

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Speaker 2: important than my bills. I had to call the credit

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Speaker 2: card companies and say, hey, I don't have it right

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Speaker 2: now because I'm going to get my abs, my medicine instead,

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Speaker 2: I'm going to make sure that I have enough for

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Speaker 2: this place where I have to live, so I'm not homeless.

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Speaker 2: You know, I'm going to have enough to I can eat.

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Speaker 2: And so there's levels. There's your regular budget, which you're

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Speaker 2: likely living at now. Great, Know what your noodle budget is,

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Speaker 2: so if you have to drop down to that, which

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Speaker 2: is just the non bells and whistles budget, great, Then

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Speaker 2: know your health and safety budget, whereas it means that

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Speaker 2: some bills won't get paid because you have to take

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Speaker 2: care of your health and safety. So really understanding your

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Speaker 2: tears and doing so, but also too. One of the

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Speaker 2: reasons why I wrote We're going to do I haven't

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Speaker 2: done a GetGo of Money plug in a long time. Okay,

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Speaker 2: my New York Times bestselling book Gets Good with Money.

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Speaker 2: But honestly, one of the reasons why I wrote it

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Speaker 2: was in response to how I struggled during the twenty

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Speaker 2: nine and ten recession. I wanted to create this holistic

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Speaker 2: look of your money that I call financial homeness, and

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Speaker 2: that is these ten components of your personal finances that

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Speaker 2: will allow you to see you through the good and

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Speaker 2: the bad, and so focusing on your financial holeness honestly,

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Speaker 2: So that is so here are the ten components budgeting, savings, debt, credit,

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Speaker 2: learning to earn. So that's like financial hollness one oh one,

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Speaker 2: that's the core foundation, and then financial holness one oh

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Speaker 2: two is investing for both retirement and wealth. Right, it

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Speaker 2: is your insurance, it is your money team, your net

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Speaker 2: worth and estate planning. So I would focus on the

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Speaker 2: first five components of financial holness, like really tightening up

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Speaker 2: on your budget, on your savings, plan on lowering your debt,

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Speaker 2: and managing your credit and learning to earn. You know,

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Speaker 2: if you need help with that, you can go head

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Speaker 2: on over to get Good with Money dot com and

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Speaker 2: go ahead and scoop that book up. No, but honestly, like,

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Speaker 2: that's why I wrote that book, and honestly, it's just

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Speaker 2: an accumulation of the work that I do, which is

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Speaker 2: I'm really here to help you to build this financial

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Speaker 2: foundation so you can see your way through the most

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Speaker 2: difficult parts of your financial journey and you're in your

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Speaker 2: life's journey as it relates to your money. And so

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Speaker 2: that's what I would suggest, understanding your tears, really working

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Speaker 2: on this financial homeness part and also not purchasing any

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Speaker 2: big ticket items unless you are really solid with your dead,

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Speaker 2: your your your investments, you know your you have your

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Speaker 2: retirement fund, you have your six to twelve months worth

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Speaker 2: of of an emergency fund. I would not be buying

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Speaker 2: like a big ticket item right now because you might

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Speaker 2: need that money to survive through this. So just keep

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Speaker 2: those things in mind.

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Speaker 1: Yeah, and Chanelle doesn't mention much about her assets and

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Speaker 1: how much she hasn't She hasn't mentioned anything boy her dad,

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Speaker 1: her or her cash on hand. But for those who

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Speaker 1: have the means and for those who have a long

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Speaker 1: time horizon, I would not want y'all to stop investing.

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Speaker 1: I mean, this is my advice with a lowercase A,

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Speaker 1: not an investment. But if you have the means and

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Speaker 1: you know our previous are I almost had previous caller,

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Speaker 1: our previous question from listener TD who has you know,

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Speaker 1: wants to do something with her investments next year. That's

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Speaker 1: a very short time horizon. Yeah, snatch that money up

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Speaker 1: and do something else with it. But if you have

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Speaker 1: a long if you're investing for retirement, things like that,

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Speaker 1: I would say, you know, keep investing. Things are cheap,

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Speaker 1: look at it that way, you can buy more shares

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Speaker 1: of companies now than maybe you could you know, months ago.

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Speaker 1: And that was one of the great lessons I learned

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Speaker 1: post recession of two thousand and eight, thousand and nine,

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Speaker 1: when I was laid off in twenty ten as a

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Speaker 1: result of that, like several years it took for that

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Speaker 1: whole recession to just like chill out, and I learned

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Speaker 1: then like investing even during tough times, and it has

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Speaker 1: benefited me enormously, you know, investing through the pandemic, investing

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Speaker 1: through my early years in my career, which was post

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Speaker 1: eight crisis. It's just hard to give that specific advice

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Speaker 1: to you, missionel So I don't know all your business,

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Speaker 1: but if you have a professional advice or who does,

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Speaker 1: and they can certainly help you. There. You mentioned credit

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Speaker 1: card debt to Tiffany. I was reading something about how

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Speaker 1: Americans are, like credit card debt is starting to rise,

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Speaker 1: which is concerning, right, I mean, non surprised things are

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Speaker 1: so much more expensive, Like, and there's a there's this

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Speaker 1: calculator that I want to share with y'all. I get

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Speaker 1: to find a link to it. It's like your personal

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Speaker 1: inflation calculator, and it helps, I think, give a lot

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Speaker 1: of it helps give important perspective to how not everyone

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Speaker 1: is in Not everyone is feeling this inflation at the

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Speaker 1: same pace as other people. It really depends on your lifestyle,

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Speaker 1: your household size, whether you're renting, whether you're owning a home,

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Speaker 1: if you need a car, like and your personal inflation

430
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Speaker 1: rate can be so much higher than what we all

431
00:21:46,200 --> 00:21:48,439
Speaker 1: say is like, oh, eight percent. No, it can be

432
00:21:48,480 --> 00:21:50,680
Speaker 1: double triple that, depending on what you're going to give you.

433
00:21:50,800 --> 00:21:52,720
Speaker 2: Like I drove down here. I drove to you know,

434
00:21:52,760 --> 00:21:54,919
Speaker 2: like Upstate New York from from Newark because you know,

435
00:21:54,960 --> 00:21:57,719
Speaker 2: typically I don't drive. I work from home, and so

436
00:21:57,880 --> 00:22:05,080
Speaker 2: I was not to the sting of paying for gas

437
00:22:05,080 --> 00:22:07,240
Speaker 2: because honestly, like the whole foods I go to is

438
00:22:07,280 --> 00:22:09,639
Speaker 2: in Newark. You know, my sister lives around the corner

439
00:22:09,880 --> 00:22:12,719
Speaker 2: my other you know, everything is so close until like

440
00:22:12,760 --> 00:22:15,320
Speaker 2: the tank finally got to eat and I filled it up.

441
00:22:16,040 --> 00:22:18,160
Speaker 2: When the man told me ninety five dollars, I looked like, who.

442
00:22:18,000 --> 00:22:18,560
Speaker 1: Was he talking to?

443
00:22:19,080 --> 00:22:22,080
Speaker 2: Not me? What did you That's cause I put I

444
00:22:22,080 --> 00:22:22,840
Speaker 2: put I put up.

445
00:22:22,880 --> 00:22:24,200
Speaker 1: Are you driving? What are you driving?

446
00:22:25,600 --> 00:22:29,439
Speaker 2: Jerell has a Lincoln mk Z. I don't know one

447
00:22:29,440 --> 00:22:31,000
Speaker 2: of these big cars. I'm holding for Alyssa that she

448
00:22:31,040 --> 00:22:33,800
Speaker 2: wants for when she turns like I guess seventeen or eighteen,

449
00:22:33,840 --> 00:22:35,280
Speaker 2: so she can crash the car because that's what they

450
00:22:35,320 --> 00:22:37,760
Speaker 2: all do. But so I gave my sister my car.

451
00:22:38,560 --> 00:22:40,480
Speaker 2: I know, I gave my sister my car, and I

452
00:22:40,560 --> 00:22:42,439
Speaker 2: kept Jerell's car, which is kind of a it's kind

453
00:22:42,480 --> 00:22:45,240
Speaker 2: of a big car. But he was always like, no,

454
00:22:45,359 --> 00:22:47,520
Speaker 2: make sure you always put premium gas or whatever. I

455
00:22:47,560 --> 00:22:50,000
Speaker 2: was like, this thing's about to get some water, and

456
00:22:50,080 --> 00:22:52,760
Speaker 2: so I filled it up and I was like what,

457
00:22:53,400 --> 00:22:55,639
Speaker 2: Because the truth is, I never really looked like I

458
00:22:55,680 --> 00:22:57,920
Speaker 2: just go to the gas station. Back when I was

459
00:22:58,000 --> 00:22:59,920
Speaker 2: driving a lot, like I used to live in South

460
00:23:00,040 --> 00:23:01,560
Speaker 2: Jersey and I would drive all the way to Newerk,

461
00:23:01,600 --> 00:23:03,880
Speaker 2: I knew exactly the cheap gas stations because I'm like no, no,

462
00:23:03,960 --> 00:23:06,000
Speaker 2: no, no no. And I was driving like a little like

463
00:23:06,320 --> 00:23:08,600
Speaker 2: Nissan Ultima, and so I could put like you know,

464
00:23:08,680 --> 00:23:11,359
Speaker 2: rocks and stones and that thing could drive. So but

465
00:23:11,400 --> 00:23:14,360
Speaker 2: I like, because I hardly ever drive, I wasn't really

466
00:23:14,400 --> 00:23:16,520
Speaker 2: looking at prices. I just pulled up, was like fill

467
00:23:16,560 --> 00:23:19,600
Speaker 2: it up. And I was like I'm sorry, what or

468
00:23:19,640 --> 00:23:21,800
Speaker 2: did you just ask for a car not So to

469
00:23:21,880 --> 00:23:25,080
Speaker 2: your point, Mandy, about the inflation hits people differently, someone

470
00:23:25,359 --> 00:23:28,440
Speaker 2: like me who doesn't drive very often. You know, I,

471
00:23:29,280 --> 00:23:31,640
Speaker 2: you know, the the inflation of gas has not hit

472
00:23:31,720 --> 00:23:34,639
Speaker 2: me as hard because I'm not you know, filling up

473
00:23:34,640 --> 00:23:38,200
Speaker 2: my tank as much. So just being mindful of your

474
00:23:38,400 --> 00:23:43,960
Speaker 2: lifestyle and asking yourself, you know, if you had to

475
00:23:44,160 --> 00:23:48,040
Speaker 2: cut back or if you had to make more, start

476
00:23:48,080 --> 00:23:51,399
Speaker 2: planning out what does that look like now? Because that

477
00:23:51,480 --> 00:23:53,760
Speaker 2: might be coming. And so it's like, Okay, if I

478
00:23:53,800 --> 00:23:56,000
Speaker 2: had to, I could do this or I you know,

479
00:23:56,520 --> 00:23:57,920
Speaker 2: I could do this, Because I was just talking to

480
00:23:58,240 --> 00:24:00,400
Speaker 2: one of my friends, Cabrel, today about ways that he

481
00:24:00,440 --> 00:24:01,720
Speaker 2: was like, you know, I'm really good at this, this,

482
00:24:01,720 --> 00:24:04,000
Speaker 2: this and this, and I call that the bank. You know,

483
00:24:04,400 --> 00:24:07,320
Speaker 2: the bank is an area in my life that I

484
00:24:07,359 --> 00:24:10,240
Speaker 2: could bank on making money. Like if things got really tight,

485
00:24:10,960 --> 00:24:13,480
Speaker 2: let's just say. You know, everybody hates the budgetista, right,

486
00:24:13,720 --> 00:24:15,720
Speaker 2: I could do one on once and I could bank

487
00:24:15,760 --> 00:24:17,880
Speaker 2: on that and say, hey, you know, people do want

488
00:24:17,880 --> 00:24:20,359
Speaker 2: to sit down with me with your personal finances and

489
00:24:20,440 --> 00:24:22,400
Speaker 2: so like that's like I remember, Mandy, when you first

490
00:24:22,400 --> 00:24:24,639
Speaker 2: started your business, your bank was you know, you were

491
00:24:24,640 --> 00:24:27,920
Speaker 2: an editor and you're like I can I can write,

492
00:24:27,960 --> 00:24:29,720
Speaker 2: I can edit. It may not be my fave, but

493
00:24:29,800 --> 00:24:31,560
Speaker 2: I know I can bank on that skill set and

494
00:24:31,560 --> 00:24:34,640
Speaker 2: make money in PROCP. You know, so ask yourself too,

495
00:24:35,040 --> 00:24:37,200
Speaker 2: you know, for those listening, like, do you have something

496
00:24:37,240 --> 00:24:37,760
Speaker 2: you can bank on?

497
00:24:37,840 --> 00:24:38,080
Speaker 1: For me?

498
00:24:38,520 --> 00:24:40,679
Speaker 2: Even when I was teaching preschool, my bank was I

499
00:24:40,720 --> 00:24:43,719
Speaker 2: could tutor, I could babysit. You know, the bank might

500
00:24:43,760 --> 00:24:47,199
Speaker 2: be driving uber like, what does that look like for you?

501
00:24:47,200 --> 00:24:49,520
Speaker 2: You don't have to do it now, but identifying that

502
00:24:49,840 --> 00:24:51,520
Speaker 2: it's certainly going to help. So if you need to

503
00:24:51,520 --> 00:24:53,119
Speaker 2: tap into it, it's the aren't ready for you?

504
00:24:54,760 --> 00:24:56,639
Speaker 1: I love that. It's almost like a noodle budget for

505
00:24:56,680 --> 00:25:00,320
Speaker 1: your career or your professional skills. What's your I work

506
00:25:00,359 --> 00:25:04,239
Speaker 1: on that? But that's really smart. I love that. Well,

507
00:25:04,320 --> 00:25:07,040
Speaker 1: let's be clear too, we're not technically in an official

508
00:25:07,119 --> 00:25:10,960
Speaker 1: recession yet, but I think it's the slow burn of

509
00:25:11,000 --> 00:25:14,280
Speaker 1: this whole painful situation, is that there is time to

510
00:25:14,400 --> 00:25:17,679
Speaker 1: make changes now that could definitely prepare you if it

511
00:25:17,720 --> 00:25:19,879
Speaker 1: came to that. And if you know, a year or

512
00:25:19,920 --> 00:25:22,600
Speaker 1: two from now, you personally are affected by the down

513
00:25:22,840 --> 00:25:25,959
Speaker 1: this downturn that we're going through right now. So yeah, absolutely,

514
00:25:26,080 --> 00:25:28,679
Speaker 1: I love what Tiff said, your noodle budget, beefing up

515
00:25:28,680 --> 00:25:31,800
Speaker 1: your savings, paying down your debt, just those good fundamental

516
00:25:31,840 --> 00:25:33,159
Speaker 1: I mean, I know you don't have your big get

517
00:25:33,240 --> 00:25:34,879
Speaker 1: good with money picture behind you right now, but I

518
00:25:34,880 --> 00:25:36,639
Speaker 1: do have the book back there. If you guys can

519
00:25:36,680 --> 00:25:40,679
Speaker 1: see go ahead and to get Good Money dot com.

520
00:25:40,680 --> 00:25:42,840
Speaker 2: I'm gonna get you a copy for really really now.

521
00:25:43,280 --> 00:25:45,520
Speaker 2: Now is the time to really lock in on the fundamentals,

522
00:25:45,560 --> 00:25:47,000
Speaker 2: the financial fundamentals.

523
00:25:47,400 --> 00:25:49,719
Speaker 1: Hell, yeah, that's the like, what is it twenty bucks now?

524
00:25:49,720 --> 00:25:52,240
Speaker 1: Twenty bucks worth well spend y'all, It's probably on sale

525
00:25:52,240 --> 00:25:57,760
Speaker 1: and Amazon, but supporting local bookseller. Thank you mission now

526
00:25:57,840 --> 00:26:00,560
Speaker 1: for your question. Thank you all for your incredible questions.

527
00:26:01,040 --> 00:26:03,840
Speaker 1: Y'all can hit us up. We're Brannambission podcast dot com.

528
00:26:03,880 --> 00:26:07,360
Speaker 1: You can also dm us at Brannambisson Podcast on Instagram

529
00:26:07,560 --> 00:26:11,480
Speaker 1: or email us Brownabission Podcast at gmail dot com. Hey

530
00:26:11,520 --> 00:26:13,720
Speaker 1: ba fan, we could not do this show without your

531
00:26:13,720 --> 00:26:16,640
Speaker 1: support or the support of our team behind the scenes.

532
00:26:16,920 --> 00:26:20,520
Speaker 1: The Brown Ambission Podcast is produced by Cumulus Podcast Network.

533
00:26:20,600 --> 00:26:24,080
Speaker 1: It's edited by the wonderful Imani Crosby and produced by

534
00:26:24,119 --> 00:26:27,840
Speaker 1: Tanya Bustos. Dennis Demplinsky is our in house tech guru

535
00:26:28,280 --> 00:26:31,000
Speaker 1: and I am Bandy Woodard Santos, your co host, and

536
00:26:31,160 --> 00:26:32,880
Speaker 1: I will see y'all next week.