Speaker 1: It's time full the b a q a a, the
Speaker 1: b a qep.
Speaker 2: A Okay, the big a qa hey brown ambition question
Speaker 2: to answer where you have questions and we have answer ish.
Speaker 2: We're just two smart brown girls who are just sharing
Speaker 2: our opinion. But we are not your attorney, we're not
Speaker 2: your certified financial planner, we're not your accountant, so certainly
Speaker 2: reach lean into them for the final say.
Speaker 1: But you know, we have a little suy here too. Okay,
Speaker 1: we know some stuff. We definitely know some stuff. All
Speaker 1: career and money questions, y'all continue to hit us up
Speaker 1: with those. Go to Brandimission podcast dot com click ask
Speaker 1: us anything, or you can just hit us up directly
Speaker 1: send us a DM. We are at Brandabission Podcast on
Speaker 1: the gram also Brandamission Podcast at gmail dot com dot com.
Speaker 1: You will be taking your questions. Give us a fun
Speaker 1: name though, you know, if you want to be anonymous,
Speaker 1: give us little pen name, the pseudonym you wish you
Speaker 1: had that you used for all your you know, your
Speaker 1: childhood fan fiction on the internet.
Speaker 2: Sick name Sally, okay, or like Big Booty Judy.
Speaker 1: I'll never know my fan fiction pen name. Never. Well,
Speaker 1: let's get into we got some fun money questions today.
Speaker 1: You excited? I am. Let's start with listener TD A
Speaker 1: bank fame. I don't know all right, TD says, Hey,
Speaker 1: ba team, I love the show and love you too,
Speaker 1: doube Queens. I'm so glad Tiffany's Backish, I've been praying
Speaker 1: for you, and I've led two book clubs with getgu
Speaker 1: with money Woo woo. A stand Yes, while I would
Speaker 1: like to remain anonymous, Yes, TD is your pen name.
Speaker 1: I hope you will consider this question for the Friday
Speaker 1: Q and A. First, I'm not even gonna look at
Speaker 1: my four oh one K or my roths, which I've
Speaker 1: totaled about three hundred and fifty to four hundred thousand
Speaker 1: dollars in the good old days aka two weeks ago.
Speaker 1: I'm locked in for the ride until I'm fifty nine
Speaker 1: and a half. In time is on my side. This
Speaker 1: is so true. Second, my emergency fund is about thirty K,
Speaker 1: which is about six to eight months of expenses right
Speaker 1: now in a high yield savings account. My house and
Speaker 1: cars are paid in full. I have about sixty K
Speaker 1: and three mutual funds that are being hammered right now.
Speaker 1: I've had fifteen K and losses since Friday. I had
Speaker 1: a goal of having one hundred thousand dollars in my
Speaker 1: emergency fund in the next one to two years. I'll
Speaker 1: be closer and feel a bit more secure if I
Speaker 1: can move fifty K to my emergency fund. I'd also
Speaker 1: like to purchase ten K and I bonds. So here's
Speaker 1: my question. Would it be unwise to move the mutual
Speaker 1: funds to my high yield savings and replenish them later
Speaker 1: by continuing to invest in the downturn? Here's the caveat.
Speaker 1: I'm thinking of taking an adult gap year or global
Speaker 1: nomadding in mid twenty twenty three, and I'd plan to
Speaker 1: liquidate my mutual funds for that life event next year.
Speaker 1: Any perspective you could offer would be great. Thanks, Ned,
Speaker 1: advance ted first and foremost. TV is impressive girl, Okay,
Speaker 1: can we look? Can we stand for this system? Right here?
Speaker 1: We can stand? Yes, four hunderd K in her four
Speaker 1: oh one K. Yes, emergency fund, six to eight months
Speaker 1: of expenses saved in the high yield savings, house and
Speaker 1: car paid in full. Boom boom damn. She should have
Speaker 1: co written Good with Money, No, not just led the
Speaker 1: book clubs, I feel like, but she's so, I get
Speaker 1: this sense. She's basically so, she's talking about her investment
Speaker 1: account outside of her four oh one K. So she's
Speaker 1: got like a brokerage account and she's got sixty K
Speaker 1: in there where she's being invested. She's been investing in
Speaker 1: mutual funds, which are being hammered right now, aren't we
Speaker 1: all right? Yes? And she wants to know if she,
Speaker 1: if she, if, what would we think about her dipping
Speaker 1: into that brokerage account, selling those investments and then selling
Speaker 1: fifty thousand dollars worth of those investments and putting them
Speaker 1: in her emergency fund and then using the ten K
Speaker 1: of those funds two or ten K of her investments
Speaker 1: that are in mutual funds right now, liquidating them and
Speaker 1: purchasing eye bonds instead. Good question, juicy.
Speaker 2: I know one, you're thinking, well one, I'm thinking, like,
Speaker 2: this is the fact, is you you for even okay?
Speaker 2: You found them back. I'm stuttering because I'm like, my
Speaker 2: miscreaction is like leave it alone, Sis, But you do
Speaker 2: have a special case because Sis got going on her.
Speaker 2: You know, her retirement accounts looking cute and good. She
Speaker 2: doesn't have the major debt that everyone else has. I'm
Speaker 2: assuming you probably don't have credit card debt either, because siss,
Speaker 2: house paid off, car paid off, you sound a good
Speaker 2: credit card debt free CISK. And then the fact that
Speaker 2: you have your your emergency fund funded six to eight months.
Speaker 2: So normally i'd be like, no, leave it alone, but ugh,
Speaker 2: because I don't know what the market is gonna do.
Speaker 2: You know, you've already lost ten to fifteen thousand dollars
Speaker 2: and it might get worse or I guess my concern
Speaker 2: is locking in the loss versus taking your money and run. Normally,
Speaker 2: if you weren't going to take this money so that
Speaker 2: way you could know mad in mid two thousand, mid
Speaker 2: twenty twenty three, i'd be like, leave it, you know,
Speaker 2: don't don't lock in the loss by drawing your money.
Speaker 2: But because it's for something specific, I mean, if.
Speaker 1: You want to do it, I'm not going to stand
Speaker 1: in your oasis.
Speaker 2: But don't tell nobody I told you, you know, because
Speaker 2: like I said, normally, i'd be like, don't do it.
Speaker 2: But because you have so you're so strong everywhere else financially. Yeah,
Speaker 2: because my concern is this recession is not looking like
Speaker 2: it's not looking like what the last mini recession looked like,
Speaker 2: which was like an instant bounce back, you know, like
Speaker 2: it went down the right back up again. It's looking
Speaker 2: like it's only gonna get worse before it gets better,
Speaker 2: and we just don't know how much how much worse.
Speaker 2: So I A'm mad at you. I'm mad at you
Speaker 2: because you have the rest of your financial life together.
Speaker 2: So if you want to do it, I mean you
Speaker 2: might see me right alongside with you. You see me now,
Speaker 2: I'll say, ooh, you have to tell me nothing now
Speaker 2: that I am recording in the upstate New York instead
Speaker 2: of my house. But I'm like, oh, look at me
Speaker 2: traveling and doing the Paul guests, so you might have
Speaker 2: me right along with you.
Speaker 1: I was excited for you to do the show on
Speaker 1: the back of a camel in Jordan, but that didn't happen. Maybe,
Speaker 1: oh that's really not happening. Ah, this is really interesting
Speaker 1: because it's so timely right. So, and she's talking about
Speaker 1: you know, she was thinking she wants to basically take
Speaker 1: this money out of the market so to so snatch
Speaker 1: it up while she still can before she loses even more.
Speaker 1: But what's important here and the reason you're giving the
Speaker 1: advice you are, and I want to make it clear
Speaker 1: to our audience. It's different than what we usually would say.
Speaker 1: Her time horizon is so much shorter now. She's talking
Speaker 1: about she was wanting to use this money for mid
Speaker 1: twenty twenty three. That's only a year away. And she
Speaker 1: had planned to use this money to global nomad, which
Speaker 1: is incredible, right, that's only a year away. And like
Speaker 1: what Tiffany is saying is with the way that trends
Speaker 1: are showing right now, things may get worse before they
Speaker 1: get better. It's possible that if she were to leave
Speaker 1: it tied up in mutual funds in the market. Let's
Speaker 1: just assume I don't know what the mutual funds are holding,
Speaker 1: but let's assume they're all stock index fund or things
Speaker 1: like that. Tracking the S and P. It's looking like
Speaker 1: things will get worse before they get better, so she
Speaker 1: could lose even more. She needs the money in the year.
Speaker 1: It'd be different if this was what the money that
Speaker 1: she was investing for her retirement. She's got that in
Speaker 1: a separate bucket. Retirement bucket is looking amazing four hundred
Speaker 1: K in a four to one K, So this is
Speaker 1: her you know, her wealth building fund on the side,
Speaker 1: So yeah, I can I can understand Tiff why you're
Speaker 1: saying what you're saying. It's scary to me still, but
Speaker 1: you know, it's really scary to me still. I love
Speaker 1: that she's I like that she's doing the eyebonds. Here's
Speaker 1: the thing, you know, so what are let's talk about
Speaker 1: some ways to yield a higher return out of the
Speaker 1: stock market. So if she's gonna take sixty k out
Speaker 1: of this fund, then what could she do? I think
Speaker 1: ten k and I bonds is great. We talked about
Speaker 1: eyebonds a few weeks ago. They're getting super sexy and
Speaker 1: exciting now because they guarantee I think a nine percent
Speaker 1: nine point sixty two percent. At the time, I should
Speaker 1: double check that they are meant to hedge against inflation,
Speaker 1: and with inflation being as high as it is, the
Speaker 1: interest rate on ebonds was like over nine percent, and
Speaker 1: that's guaranteed. You can contribute ten k per year in
Speaker 1: an ibond. So if you want go back and listen
Speaker 1: to that episode we talk all about it. That's smart,
Speaker 1: but an emergency savings fun. I mean I did get
Speaker 1: an alert from my online only bank that the savings
Speaker 1: rate is going to be going up I think two
Speaker 1: point nine percent or one percent now, which is hoo exciting,
Speaker 1: But at least look into CDs. I would say, like,
Speaker 1: I don't know what CD rates are right now, but
Speaker 1: you know, CDs can make sense if you are okay
Speaker 1: with tying up your money for a little bit of time.
Speaker 1: I mean there's CDs as short as like three or
Speaker 1: six months, sometimes as long as I don't know, five, seven,
Speaker 1: ten years. You're going to need your money in the
Speaker 1: next year, so see what twelve month CD rates kind
Speaker 1: of look like. You may not need. You're going to
Speaker 1: need some money at the beginning, sorry, some money next
Speaker 1: year when you start your travels. You may not need
Speaker 1: it all at once, though, So there's something called a
Speaker 1: CD ladder where you can choose CDs of different links
Speaker 1: so that they mature and you can withdraw the funds
Speaker 1: in a staggered pace. So you could do a six
Speaker 1: month CD, at twelve month CD at eighteen month CD
Speaker 1: at twenty four months CD to kind of like carry
Speaker 1: you through your travels, and then each time they mature
Speaker 1: you can withdraw the funds and then you know your
Speaker 1: money will have grown, probably not at an enormously amazing
Speaker 1: rate because rates are still pretty low but better than
Speaker 1: what you may get from an emergency fund. And because
Speaker 1: they are CDs, they're held by FDIC insured institutions, so
Speaker 1: you have security there as well, like you're not going
Speaker 1: to lose your money, which is of course different to
Speaker 1: money you lose in the stock market, because nothing we
Speaker 1: can do about all that. No, that's really smart.
Speaker 2: I really like that because it's like it's like a
Speaker 2: it's a good mix of our innate girlly that money alone.
Speaker 2: But also I get it because you've done everything else
Speaker 2: really responsibly and you deserve to no mad if you
Speaker 2: want to know bad, especially with what's happening in USA
Speaker 2: the USAA, but to do so in a way you
Speaker 2: know that you know where you get to make a
Speaker 2: little bit of money on your money. It's not just
Speaker 2: sitting you know, in your in your savings account. I
Speaker 2: think that's that's brilliant. Let us know where you planning
Speaker 2: on going, CYS. I would love to hear, right, I'm like.
Speaker 1: Just want to be your friend, I know, right. I
Speaker 1: was like, you want to come on because she sounds dope.
Speaker 1: We need a third co host. I don't know that's incredible. Well,
Speaker 1: good try, I mean, good luck. That's so exciting, and
Speaker 1: talk about setting goals and then going out and freaking
Speaker 1: reach them. Didn't even mention that she still has thirty
Speaker 1: K and her emergency fund on the side too, so
Speaker 1: she's covering literally all her bases. Yes, but I would
Speaker 1: also end this with this might be a good one
Speaker 1: time meet with a financial planner to get a strategy
Speaker 1: in place. I think maybe TIF and I can help
Speaker 1: you with like the beginnings of thinking about that. But
Speaker 1: I would love I mean, you can probably get a
Speaker 1: financial planner to talk to you, you know, as an
Speaker 1: initial call, just to like strategize this particular instance of
Speaker 1: your money, just to get that extra you know, professional opinion,
Speaker 1: and they can look at your whole picture very carefully
Speaker 1: and give you real specific advice in that case exactly for.
Speaker 2: Like one hundred and fifty two hundred and fifty bucks.
Speaker 1: So yeah, you could do that. Yeah, all right, y'all.
Speaker 1: Should we take a quick break and come back with
Speaker 1: another of your questions? This is a ba Q and A.
Speaker 2: And we're black. Get back.
Speaker 1: You want to read this one? Sure?
Speaker 2: Our next question is from Chanel. I hope you don't
Speaker 2: mindus using your name because you didn't say it was anonymous.
Speaker 2: So Hi, my name is Chanelle and I had a
Speaker 2: quick question with tales of the recession coming, what should
Speaker 2: we be doing to prepare? If this was already answered
Speaker 2: in a podcast episode, would you be able to tell
Speaker 2: me which one? Thanks for your help, so now we
Speaker 2: might have but cis with what's going on now we've
Speaker 2: find to answer it again. Okay, So how should people prepare?
Speaker 2: And how are you preparing, Mandy for the upcoming recession?
Speaker 2: I feel like it's like a party, like, all, how
Speaker 2: are you doing what you know for the recession? Girl? Over?
Speaker 1: There is recession girl summer?
Speaker 2: Is that a thing? Yeah?
Speaker 1: So the thing is. That's one of the reasons why
Speaker 1: this week I held a free workshop called Recession Proof
Speaker 1: your Career, because I believe very strongly that so much
Speaker 1: of our career is the root of our financial of
Speaker 1: the ability for ourselves to grow our finances. So professionally,
Speaker 1: what you can do to sort of hedge against recessions
Speaker 1: and tough economic times are to always be investing in
Speaker 1: your own skills and the value you bring to companies.
Speaker 1: The people who will be in most danger of being
Speaker 1: cut you know, and if companies do decide to downsize,
Speaker 1: they as they have been doing, are the ones whose
Speaker 1: skills can be easily replaced or automated. So what are
Speaker 1: you bringing to the table that is going to make
Speaker 1: you super valuable? And maybe you are released from your job,
Speaker 1: but will other people be looking for someone with your
Speaker 1: skills and talents? Sometimes people are laid off through no
Speaker 1: fault of their own or not because the company doesn't
Speaker 1: need their skills. But companies just got to make their
Speaker 1: They got to make the books. You know, the math
Speaker 1: has to math for Wall Street to be happy with them, right,
Speaker 1: so they make these drastic cuts. Doesn't mean that your
Speaker 1: skills are not needed? But will other companies want them?
Speaker 1: So I'm always thinking about, like, what are the skills
Speaker 1: that I have today? And then will multiple companies be
Speaker 1: interested in me? I think that's a great way to
Speaker 1: give yourself some professional security. Don't wait until times are
Speaker 1: difficult either to actually reach out to your network and
Speaker 1: to keep your network warm, because it's a lot harder
Speaker 1: to reach out to folks for help or for referrals
Speaker 1: or for like help you know, getting a job or
Speaker 1: whatnot when things are really dicey and everyone's sort of
Speaker 1: stressed out. I think it's better to cultivate those relationships,
Speaker 1: you know, always. And I think our previous question too,
Speaker 1: was a really good example of like, I don't know
Speaker 1: how to look at your where you have your money
Speaker 1: now and doesn't make the most sense for you, you know,
Speaker 1: are you? And I think it's a good time to
Speaker 1: like be restructuring your investments if you're overly risky, Like
Speaker 1: maybe your risk tolerance for investing in the stock market
Speaker 1: is not as strong as you thought it was, and
Speaker 1: you can't sleep, you know, and you have so much
Speaker 1: of your investments tied up in stocks, and maybe it's
Speaker 1: time to rethink that maybe you're getting older or you
Speaker 1: just you know, can't handle the anxiety, and maybe you
Speaker 1: need to shift some over into less risky investments. Like
Speaker 1: our last listener, she asked about eyebonds. You know, there's
Speaker 1: other forms of bonds you could purchase as well that
Speaker 1: are protected, you know, high yield savings CDs, things like that.
Speaker 1: I mean, there's a there's a bunch you can kind
Speaker 1: of do.
Speaker 2: What do you think, TI, Well, I would say, well,
Speaker 2: first and foremost, I need you to figure out what
Speaker 2: your noodle budget is I mean, this is when I
Speaker 2: survived the two thousand and nine session. That was a
Speaker 2: mistake that I made that I did not quickly drop
Speaker 2: down and get your noodle on girl. Eh, drop down
Speaker 2: and get your new girl. So your noodle budget is
Speaker 2: like think back, like if you had to eat Ramen
Speaker 2: noodles like college, right, Meaning if I look at my
Speaker 2: budget and let's just say, my life cost me five
Speaker 2: thousand dollars a month mortgage, car know everything, right, but
Speaker 2: it also includes like hair done, nails and everything did,
Speaker 2: but my life could potentially cost me four thousand dollars
Speaker 2: a month if I cut out the things that are
Speaker 2: not necessities. Right. So I'm not saying you should live
Speaker 2: at your noodle budget, but you should know what it is.
Speaker 2: That way, if really the shit hits the van, for
Speaker 2: lack of a better word, then you know instantly what
Speaker 2: you can cut out. You know, because too many people
Speaker 2: were losing their homes and still had cable. And when
Speaker 2: I say too many people, I am people. You know.
Speaker 1: I was still face like one.
Speaker 2: Hundred and something dollars a month for cable and I
Speaker 2: lost my home to foreclosure, and it was like, not
Speaker 2: that one hundred something dollars a month would have saved
Speaker 2: my house. It wasn't about the house at that point.
Speaker 2: That was grocery money for me, you know, that was
Speaker 2: other bills that could have been paid. So one identify
Speaker 2: your noodle budget. You don't have to drop down to
Speaker 2: it yet, but just know if times get tough, you can.
Speaker 2: So that's one of the things. Something else too, is
Speaker 2: like sometimes you have to identify even more than your
Speaker 2: noodle budget.
Speaker 1: I call it my health and safety budget.
Speaker 2: So noodle budget is I can still pay the bills,
Speaker 2: but I just don't have the excess. My health and
Speaker 2: safety budget is what I had to drop down to
Speaker 2: when I lost my job during the recession, the two
Speaker 2: thousand and nine recession, and I lost my house to foreclosure.
Speaker 2: Now is really really struggling, and the health and safety
Speaker 2: budget is ain't nobody getting paid unless it supports my
Speaker 2: health and my safety. That meant they were people like
Speaker 2: my credit cards that were late, and I had to
Speaker 2: be okay with that because nothing is I am more
Speaker 2: important than my bills. I had to call the credit
Speaker 2: card companies and say, hey, I don't have it right
Speaker 2: now because I'm going to get my abs, my medicine instead,
Speaker 2: I'm going to make sure that I have enough for
Speaker 2: this place where I have to live, so I'm not homeless.
Speaker 2: You know, I'm going to have enough to I can eat.
Speaker 2: And so there's levels. There's your regular budget, which you're
Speaker 2: likely living at now. Great, Know what your noodle budget is,
Speaker 2: so if you have to drop down to that, which
Speaker 2: is just the non bells and whistles budget, great, Then
Speaker 2: know your health and safety budget, whereas it means that
Speaker 2: some bills won't get paid because you have to take
Speaker 2: care of your health and safety. So really understanding your
Speaker 2: tears and doing so, but also too. One of the
Speaker 2: reasons why I wrote We're going to do I haven't
Speaker 2: done a GetGo of Money plug in a long time. Okay,
Speaker 2: my New York Times bestselling book Gets Good with Money.
Speaker 2: But honestly, one of the reasons why I wrote it
Speaker 2: was in response to how I struggled during the twenty
Speaker 2: nine and ten recession. I wanted to create this holistic
Speaker 2: look of your money that I call financial homeness, and
Speaker 2: that is these ten components of your personal finances that
Speaker 2: will allow you to see you through the good and
Speaker 2: the bad, and so focusing on your financial holeness honestly,
Speaker 2: So that is so here are the ten components budgeting, savings, debt, credit,
Speaker 2: learning to earn. So that's like financial hollness one oh one,
Speaker 2: that's the core foundation, and then financial holness one oh
Speaker 2: two is investing for both retirement and wealth. Right, it
Speaker 2: is your insurance, it is your money team, your net
Speaker 2: worth and estate planning. So I would focus on the
Speaker 2: first five components of financial holness, like really tightening up
Speaker 2: on your budget, on your savings, plan on lowering your debt,
Speaker 2: and managing your credit and learning to earn. You know,
Speaker 2: if you need help with that, you can go head
Speaker 2: on over to get Good with Money dot com and
Speaker 2: go ahead and scoop that book up. No, but honestly, like,
Speaker 2: that's why I wrote that book, and honestly, it's just
Speaker 2: an accumulation of the work that I do, which is
Speaker 2: I'm really here to help you to build this financial
Speaker 2: foundation so you can see your way through the most
Speaker 2: difficult parts of your financial journey and you're in your
Speaker 2: life's journey as it relates to your money. And so
Speaker 2: that's what I would suggest, understanding your tears, really working
Speaker 2: on this financial homeness part and also not purchasing any
Speaker 2: big ticket items unless you are really solid with your dead,
Speaker 2: your your your investments, you know your you have your
Speaker 2: retirement fund, you have your six to twelve months worth
Speaker 2: of of an emergency fund. I would not be buying
Speaker 2: like a big ticket item right now because you might
Speaker 2: need that money to survive through this. So just keep
Speaker 2: those things in mind.
Speaker 1: Yeah, and Chanelle doesn't mention much about her assets and
Speaker 1: how much she hasn't She hasn't mentioned anything boy her dad,
Speaker 1: her or her cash on hand. But for those who
Speaker 1: have the means and for those who have a long
Speaker 1: time horizon, I would not want y'all to stop investing.
Speaker 1: I mean, this is my advice with a lowercase A,
Speaker 1: not an investment. But if you have the means and
Speaker 1: you know our previous are I almost had previous caller,
Speaker 1: our previous question from listener TD who has you know,
Speaker 1: wants to do something with her investments next year. That's
Speaker 1: a very short time horizon. Yeah, snatch that money up
Speaker 1: and do something else with it. But if you have
Speaker 1: a long if you're investing for retirement, things like that,
Speaker 1: I would say, you know, keep investing. Things are cheap,
Speaker 1: look at it that way, you can buy more shares
Speaker 1: of companies now than maybe you could you know, months ago.
Speaker 1: And that was one of the great lessons I learned
Speaker 1: post recession of two thousand and eight, thousand and nine,
Speaker 1: when I was laid off in twenty ten as a
Speaker 1: result of that, like several years it took for that
Speaker 1: whole recession to just like chill out, and I learned
Speaker 1: then like investing even during tough times, and it has
Speaker 1: benefited me enormously, you know, investing through the pandemic, investing
Speaker 1: through my early years in my career, which was post
Speaker 1: eight crisis. It's just hard to give that specific advice
Speaker 1: to you, missionel So I don't know all your business,
Speaker 1: but if you have a professional advice or who does,
Speaker 1: and they can certainly help you. There. You mentioned credit
Speaker 1: card debt to Tiffany. I was reading something about how
Speaker 1: Americans are, like credit card debt is starting to rise,
Speaker 1: which is concerning, right, I mean, non surprised things are
Speaker 1: so much more expensive, Like, and there's a there's this
Speaker 1: calculator that I want to share with y'all. I get
Speaker 1: to find a link to it. It's like your personal
Speaker 1: inflation calculator, and it helps, I think, give a lot
Speaker 1: of it helps give important perspective to how not everyone
Speaker 1: is in Not everyone is feeling this inflation at the
Speaker 1: same pace as other people. It really depends on your lifestyle,
Speaker 1: your household size, whether you're renting, whether you're owning a home,
Speaker 1: if you need a car, like and your personal inflation
Speaker 1: rate can be so much higher than what we all
Speaker 1: say is like, oh, eight percent. No, it can be
Speaker 1: double triple that, depending on what you're going to give you.
Speaker 2: Like I drove down here. I drove to you know,
Speaker 2: like Upstate New York from from Newark because you know,
Speaker 2: typically I don't drive. I work from home, and so
Speaker 2: I was not to the sting of paying for gas
Speaker 2: because honestly, like the whole foods I go to is
Speaker 2: in Newark. You know, my sister lives around the corner
Speaker 2: my other you know, everything is so close until like
Speaker 2: the tank finally got to eat and I filled it up.
Speaker 2: When the man told me ninety five dollars, I looked like, who.
Speaker 1: Was he talking to?
Speaker 2: Not me? What did you That's cause I put I
Speaker 2: put I put up.
Speaker 1: Are you driving? What are you driving?
Speaker 2: Jerell has a Lincoln mk Z. I don't know one
Speaker 2: of these big cars. I'm holding for Alyssa that she
Speaker 2: wants for when she turns like I guess seventeen or eighteen,
Speaker 2: so she can crash the car because that's what they
Speaker 2: all do. But so I gave my sister my car.
Speaker 2: I know, I gave my sister my car, and I
Speaker 2: kept Jerell's car, which is kind of a it's kind
Speaker 2: of a big car. But he was always like, no,
Speaker 2: make sure you always put premium gas or whatever. I
Speaker 2: was like, this thing's about to get some water, and
Speaker 2: so I filled it up and I was like what,
Speaker 2: Because the truth is, I never really looked like I
Speaker 2: just go to the gas station. Back when I was
Speaker 2: driving a lot, like I used to live in South
Speaker 2: Jersey and I would drive all the way to Newerk,
Speaker 2: I knew exactly the cheap gas stations because I'm like no, no,
Speaker 2: no, no no. And I was driving like a little like
Speaker 2: Nissan Ultima, and so I could put like you know,
Speaker 2: rocks and stones and that thing could drive. So but
Speaker 2: I like, because I hardly ever drive, I wasn't really
Speaker 2: looking at prices. I just pulled up, was like fill
Speaker 2: it up. And I was like I'm sorry, what or
Speaker 2: did you just ask for a car not So to
Speaker 2: your point, Mandy, about the inflation hits people differently, someone
Speaker 2: like me who doesn't drive very often. You know, I,
Speaker 2: you know, the the inflation of gas has not hit
Speaker 2: me as hard because I'm not you know, filling up
Speaker 2: my tank as much. So just being mindful of your
Speaker 2: lifestyle and asking yourself, you know, if you had to
Speaker 2: cut back or if you had to make more, start
Speaker 2: planning out what does that look like now? Because that
Speaker 2: might be coming. And so it's like, Okay, if I
Speaker 2: had to, I could do this or I you know,
Speaker 2: I could do this, Because I was just talking to
Speaker 2: one of my friends, Cabrel, today about ways that he
Speaker 2: was like, you know, I'm really good at this, this,
Speaker 2: this and this, and I call that the bank. You know,
Speaker 2: the bank is an area in my life that I
Speaker 2: could bank on making money. Like if things got really tight,
Speaker 2: let's just say. You know, everybody hates the budgetista, right,
Speaker 2: I could do one on once and I could bank
Speaker 2: on that and say, hey, you know, people do want
Speaker 2: to sit down with me with your personal finances and
Speaker 2: so like that's like I remember, Mandy, when you first
Speaker 2: started your business, your bank was you know, you were
Speaker 2: an editor and you're like I can I can write,
Speaker 2: I can edit. It may not be my fave, but
Speaker 2: I know I can bank on that skill set and
Speaker 2: make money in PROCP. You know, so ask yourself too,
Speaker 2: you know, for those listening, like, do you have something
Speaker 2: you can bank on?
Speaker 1: For me?
Speaker 2: Even when I was teaching preschool, my bank was I
Speaker 2: could tutor, I could babysit. You know, the bank might
Speaker 2: be driving uber like, what does that look like for you?
Speaker 2: You don't have to do it now, but identifying that
Speaker 2: it's certainly going to help. So if you need to
Speaker 2: tap into it, it's the aren't ready for you?
Speaker 1: I love that. It's almost like a noodle budget for
Speaker 1: your career or your professional skills. What's your I work
Speaker 1: on that? But that's really smart. I love that. Well,
Speaker 1: let's be clear too, we're not technically in an official
Speaker 1: recession yet, but I think it's the slow burn of
Speaker 1: this whole painful situation, is that there is time to
Speaker 1: make changes now that could definitely prepare you if it
Speaker 1: came to that. And if you know, a year or
Speaker 1: two from now, you personally are affected by the down
Speaker 1: this downturn that we're going through right now. So yeah, absolutely,
Speaker 1: I love what Tiff said, your noodle budget, beefing up
Speaker 1: your savings, paying down your debt, just those good fundamental
Speaker 1: I mean, I know you don't have your big get
Speaker 1: good with money picture behind you right now, but I
Speaker 1: do have the book back there. If you guys can
Speaker 1: see go ahead and to get Good Money dot com.
Speaker 2: I'm gonna get you a copy for really really now.
Speaker 2: Now is the time to really lock in on the fundamentals,
Speaker 2: the financial fundamentals.
Speaker 1: Hell, yeah, that's the like, what is it twenty bucks now?
Speaker 1: Twenty bucks worth well spend y'all, It's probably on sale
Speaker 1: and Amazon, but supporting local bookseller. Thank you mission now
Speaker 1: for your question. Thank you all for your incredible questions.
Speaker 1: Y'all can hit us up. We're Brannambission podcast dot com.
Speaker 1: You can also dm us at Brannambisson Podcast on Instagram
Speaker 1: or email us Brownabission Podcast at gmail dot com. Hey
Speaker 1: ba fan, we could not do this show without your
Speaker 1: support or the support of our team behind the scenes.
Speaker 1: The Brown Ambission Podcast is produced by Cumulus Podcast Network.
Speaker 1: It's edited by the wonderful Imani Crosby and produced by
Speaker 1: Tanya Bustos. Dennis Demplinsky is our in house tech guru
Speaker 1: and I am Bandy Woodard Santos, your co host, and
Speaker 1: I will see y'all next week.