Speaker 1: Hey, hey, hey, we're back, but black, we're brown ambition.
Speaker 1: Hey Mara, hey you have a different background.
Speaker 2: What's going on? Oh, I'm at my mom's house.
Speaker 1: House, Mama, mandra Oh.
Speaker 2: Mama's good. Yeah, we came here. We had like a
Speaker 2: many little family reunion because I haven't seen my siblings
Speaker 2: all together since last year. So it's been nice. It's
Speaker 2: been nice a couple. It's just yeah, you think with
Speaker 2: all these adults and a toddler it would be a
Speaker 2: little less stressful. But I feel like because we're in
Speaker 2: a new place, Rio is just like stuck to me
Speaker 2: like glue. But I know he was not happy when
Speaker 2: my mom was like, Mama has to go to work.
Speaker 2: He's mad.
Speaker 1: And does you have a new nephew too? Write don't
Speaker 1: you like a new nephew and niece?
Speaker 2: No, I know it came up though. My little brother's like, yeah,
Speaker 2: I don't know if I want to have kids. My
Speaker 2: sister's already not. She has three dogs, and you know
Speaker 2: her and her husband are not having children. They've decided
Speaker 2: for many years now. I'm just like, I'm I just
Speaker 2: going to be trapped here. The only one someone might
Speaker 2: be only one, no, no one else can to join
Speaker 2: the misery. No, I'm kidding, just like, yeah, make your
Speaker 2: own choices.
Speaker 1: That's great.
Speaker 2: I got no argument for it, going for it like
Speaker 2: it's yeah, it's crazy expensive and very stressful, but yeah,
Speaker 2: go live your go live your fabulous lives.
Speaker 1: Oh, I have some rando good news. So, as you know,
Speaker 1: my book get good money. It's been like a year old.
Speaker 1: It's sold like one hundred and sixty five thousand copies,
Speaker 1: which is great, but the other week, so I've been
Speaker 1: averaging about eight hundred or so sales, seven to eight
Speaker 1: hundred or so sales a week for the last maybe
Speaker 1: like two months or so, and then I had this
Speaker 1: big spike because I'm a psycho, and I check my
Speaker 1: book sales every week because like most author like for example,
Speaker 1: if you signed with Penguin like I have, you get
Speaker 1: something called the Author Portal. But almost every major publisher
Speaker 1: has some sort of portal where authors can log in
Speaker 1: and see their numbers. So I checked like every week
Speaker 1: and I saw that I had doubled in sales. It
Speaker 1: was like fifteen hundred sales. And I was like, why,
Speaker 1: poor quet, And because you know that's not nothing had happened.
Speaker 1: So I looked on my social to see that I
Speaker 1: did logan my content manager posts anything that really went crazy,
Speaker 1: and I said, no, our usual. I had been on
Speaker 1: this podcast called Millennial Money with Grants Sabateur said Bader,
Speaker 1: I'm sorry, Grant, I always say your name wrong. But
Speaker 1: you know, like I was like, okay, but you know,
Speaker 1: like it's people anyway, keep going.
Speaker 2: Right.
Speaker 1: So I was like, I don't think that's it. Something
Speaker 1: in my gut said it's social media. But I couldn't
Speaker 1: figure out because I'm like, if it was social media,
Speaker 1: wouldn't I be tagged like crazy in this thing, you know?
Speaker 1: But something said this is social media because no email
Speaker 1: had gone out nothing. So I waited and someone taged
Speaker 1: me something random on Twitter and it was like, oh, Tiffy,
Speaker 1: you should watch this. This young woman is really into
Speaker 1: like self care. But the girl looked like twenty two.
Speaker 1: I'm like, well she knows about self care. So I
Speaker 1: didn't watch it. And then yesterday two people tagged me
Speaker 1: and say, oh my god, Tiffany, she did this woman,
Speaker 1: this young woman, d Asia, she did a view of
Speaker 1: a review of your book. And I was like, oh,
Speaker 1: that's the self care girl. Oh that's why she was
Speaker 1: tagging me on Twitter, like one person tagged me because
Speaker 1: I don't go on on TikTok. So she did this
Speaker 1: review of my book on TikTok. And when I'm not
Speaker 1: gonna lie, Mandy say if you we're going, we're gonna
Speaker 1: give Daja a little shout out because if you won't
Speaker 1: do a review, this is the way you do a review.
Speaker 1: It was textbook perfect review. Her name is d Asia.
Speaker 1: Literally the number D the letter D than the word
Speaker 1: Asia A s I A and say so s a
Speaker 1: y s so so d A s A I A
Speaker 1: s a y sso so Deja say so. Go to
Speaker 1: Daja's say so and click on how she did that
Speaker 1: book review. If you are an influencer, if you are
Speaker 1: you know, a content creator, and you wanted to work
Speaker 1: with brands or whatever, that is the perfect I had
Speaker 1: never literally it is so well done. Deja just for context,
Speaker 1: has about twenty thousand followers on TikTok. That review has
Speaker 1: one hundred and thirty thousand views, so, because that's how
Speaker 1: what she did it, it's got over two hundred or
Speaker 1: something so comments and she's commenting. And then because Desa
Speaker 1: is a smarty pants, she made sure to put the
Speaker 1: link in her bio, so if you bought the book,
Speaker 1: you know, it was like an an Amazon affiliate link
Speaker 1: for her. So people purchased the book and they use
Speaker 1: her affiliate link right. So, but it was so well done. So,
Speaker 1: I mean, Desa, I didn't even get a chance because
Speaker 1: I message her on Instagram so we could connect because
Speaker 1: I think originally she's from Jersey, so I don't know
Speaker 1: her personally. She just bought the book. She says something like, y'all,
Speaker 1: I have a roth Ira. Do you understand she holds
Speaker 1: the book. This book right here was so helpful, she
Speaker 1: explains how. Then she does a freeze frame of one
Speaker 1: of the pages in the book and says, read this
Speaker 1: passage right here. This is an example of how easy
Speaker 1: it is to read this book, I mean perfection. That
Speaker 1: sixty second video generated about seven or eight hundred book sales.
Speaker 1: Do you understand she sold eight hundred books with her video,
Speaker 1: And so I just so I understand book talk. So
Speaker 1: I was just talking to my publisher at my public
Speaker 1: Well yeah, my publisher like at Penguin. Her name is Marnie,
Speaker 1: the big publisher over there, the big editor over there.
Speaker 1: And then my agent Heather, because I was talking about
Speaker 1: like potentially upcoming books and things, and I was telling
Speaker 1: them that, and she was. Marnie was telling me that, yes,
Speaker 1: book talk has been responsible for upwards of a fifty
Speaker 1: percent uptick in sales of books overall, especially for the
Speaker 1: young adult market in girls. That there are books that
Speaker 1: were not no longer in print because they weren't selling anymore,
Speaker 1: that have sold millions of copies because some young girl
Speaker 1: thinks the book is amazing, talks about it on her Twitter,
Speaker 1: on her TikTok, and then it just blows up with sales.
Speaker 1: And so I just share all that to say. So
Speaker 1: they're trying to figure out how do they how do
Speaker 1: they capitalize on that, because, like I said, it's not
Speaker 1: about finding like this creator with hundreds of thousands of followers,
Speaker 1: because that might not be it. Diasia has twenty thousand followers.
Speaker 1: It's not that, you know what I mean, It's not
Speaker 1: necessarily that you have to have a ton of followers.
Speaker 1: It's that something about the way you describe the book
Speaker 1: makes people want to get it, and so it clearly
Speaker 1: was shared over and over. So one I want to
Speaker 1: shout to you, Daz y'all told her like when are
Speaker 1: you in Jersey next? How you lunch? And so she
Speaker 1: actually because she lives in like Boston and so she's
Speaker 1: actually coming to Jersey in a couple of weeks, so hopefully
Speaker 1: we can meet up. So I just want to thank
Speaker 1: that young sister because she that was just like so
Speaker 1: awesome and yeah, just like some I probably should have
Speaker 1: said that for brown Booth, but job, I just had
Speaker 1: to get her her shout out because I don't think,
Speaker 1: you know, it wasn't intentional. She doesn't know me, she's
Speaker 1: not want to sell books for me.
Speaker 2: Well it worked, you know, like with marketing, there's no
Speaker 2: way to like, you know, I prefer it's exciting when
Speaker 2: these little moments happened because you don't one. It's like
Speaker 2: you can't plan it. Obviously, your book is great, and
Speaker 2: I think that's the most important thing. You wrote a
Speaker 2: good book, Like that's how you replicate it. Have great
Speaker 2: books and have a great you know, content because like
Speaker 2: the people who get excited about it. That's the power
Speaker 2: of being an influencer, like a micro influencer and TikTok's algorithm. Baby,
Speaker 2: when it takes.
Speaker 1: All a girl, I was like what, Yeah.
Speaker 2: I don't sleep on TikTok. Is that why all of
Speaker 2: a sudden you were liking my videos? You got excited,
Speaker 2: you got on TikTok.
Speaker 1: I had long I know, beause someone had like you know,
Speaker 1: someone when they tagged me. So I went to TikTok
Speaker 1: and then when I opened it, you popped up. I
Speaker 1: was like, oh, this is cute. Oh this is cute manding.
Speaker 1: So I was just in there anyway, So I was like,
Speaker 1: let me get made some love while I'm in here.
Speaker 1: This is my once a year TikTok pilgrimage. And then
Speaker 1: like so yeah, but if anybody's on TikTok and they
Speaker 1: want to do a review, cheah, let me know. I'm
Speaker 1: taking TikTok reviews. Yeah, even although I'm not in TikTok.
Speaker 1: But yeah, I just thought that that was really awesome
Speaker 1: and just like and honestly, what I love is that
Speaker 1: in general, what we're seeing is that the powers really
Speaker 1: in the hand of the people. So like the powers
Speaker 1: that be don't get to decide what's good or bad.
Speaker 1: We get to decide. And so that's just an example
Speaker 1: of that that like if you have a book in
Speaker 1: you or whatever product or service that if you can
Speaker 1: get it in the hands of actual people and make
Speaker 1: sure that it's helpful and useful, then you know you
Speaker 1: can do well. Even if someone says, you know, we
Speaker 1: don't want you, It's like, yeah, you might not want
Speaker 1: me gatekeeper, but the people want me yeah.
Speaker 2: And it's it's completely making the access to these titles
Speaker 2: so much more easy, Like you know, Oprah's Book Club,
Speaker 2: I feel like almost is it's I don't know, it's
Speaker 2: how our moms found out what books to read. And
Speaker 2: it feels like, you know, hashtag book talk is amazing
Speaker 2: and I love following it because it's the sweetest, most
Speaker 2: like passionate nerds. And I say that with so much love. Yes,
Speaker 2: And my favorite ones are when they have they're like
Speaker 2: at a bookstore and it's all and it's usually women
Speaker 2: working at the bookstores and they're like, and it's just
Speaker 2: someone who's saying, you know, go grab me the last
Speaker 2: book that made you have a good cry, Go grab
Speaker 2: me the book that made you want to call a
Speaker 2: friend immediately, and like the joy that they have and
Speaker 2: sharing books and considering the fact that isn't the phone
Speaker 2: supposed to be killing you know, the industry.
Speaker 1: It's literally that it's not.
Speaker 2: It's absolutely and it's almost like to our own detriment.
Speaker 2: You know, if you're trying to write a traditionally published book,
Speaker 2: do you overlook the power of platforms to amplify So
Speaker 2: that's really exciting and yeah, shout out to Deja just
Speaker 2: say so. Yes, thanks said so and it was so.
Speaker 1: Well speaking of the power of like social media on
Speaker 1: personal finance. Turning it around to girl this crypto chat,
Speaker 1: are you do you invest in crypto? Nope, I have
Speaker 1: a li little bit, not much, like you know, maybe
Speaker 1: a few thousand dollars invested in them in crypto. But
Speaker 1: apparently you are in the minority of minorities because black folks.
Speaker 2: Take my black card. It's been threatened many times.
Speaker 1: We over index apparently on in crypto into.
Speaker 2: A disturbing level. Yeah, to a disturbing level. Well, the
Speaker 2: reason I think we're talking about it is there is
Speaker 2: these headlines about I mean, obviously the stock market has
Speaker 2: been just in the trash can for a long time
Speaker 2: quite a minute now, but crypto especially like there's actually
Speaker 2: a study by the Federal Reserve Bank of Kansas. They're
Speaker 2: like a big deal. Okay, when they do studies, it matters,
Speaker 2: and one of these stats that they found, one of
Speaker 2: these pieces of data they found really disturbed me. And
Speaker 2: I think, of course, I feel like you had to
Speaker 2: have them living under a rock if you didn't get
Speaker 2: any kind of crypto content as a black person in
Speaker 2: America over the past couple of years. And I knew
Speaker 2: it was increasingly popular in all of that, but black
Speaker 2: investors are more likely to have crypto than stocks or
Speaker 2: each funds. When did we get to that level of
Speaker 2: what happened? And I'm like, damn it, we missed some
Speaker 2: steps in between, y'all. We missed some very important building
Speaker 2: blocks in between. And it sucks because it's almost like
Speaker 2: it's not like crypto's meant to be a predatory and
Speaker 2: you know, financial product. But no, I feel like it
Speaker 2: just shows when knowledge what knowledge? The difference between knowledge
Speaker 2: and education. For in my mind, you know, we learned
Speaker 2: a thing about a thing, learned a crypto and how
Speaker 2: it existed, but like the holistic.
Speaker 1: Education, yes, wasn't there.
Speaker 2: And so it just kills me because I mean, how
Speaker 2: many people thought I'm building wealth and I'm taking some
Speaker 2: you know, steps toward breaking generational poverty and all that
Speaker 2: only to be like, oh crap, what have I done?
Speaker 1: And I think that's why we over index because we're
Speaker 1: so far behind in like the wealth, you know, because
Speaker 1: of that wealth gap. So I think a lot of
Speaker 1: folks and I understand. I thought that this would be
Speaker 1: a way to close that gap more quickly because I
Speaker 1: never saw people talk about investing more than the last
Speaker 1: few years. In like the black community, it has exploded
Speaker 1: to talk about investing has exploded, and I have been
Speaker 1: trying to caution people that you ought to invest, but
Speaker 1: it is you don't neglect the foundational financial steps, you know.
Speaker 1: It's one of the reasons, honestly why I wrote gig
Speaker 1: it was money because I was like, you know, do
Speaker 1: you have your budget? I know it's not sexy. Are
Speaker 1: you saving saving?
Speaker 2: You know?
Speaker 1: Are you in control of your debt? How's your credit looking?
Speaker 1: Do you know how to earn? Because once you have
Speaker 1: this foundational things, then you can invest in a way that, yes,
Speaker 1: you could take some risks over here, but you can
Speaker 1: invest in a way that is more likely to return
Speaker 1: a solid return. And then with like a percentage maybe
Speaker 1: five percent of your portfolio, you're a little bit more risky,
Speaker 1: maybe more if you're a little bit younger, but I
Speaker 1: think that that's what we saw. Like one of my
Speaker 1: one of my go to folks that I listened to,
Speaker 1: Ian Dunlap of the Masterstor. He's on one of our
Speaker 1: other podcasts, favorite podcasts that we'd like to listen to,
Speaker 1: Earn your Leisure. Well they have too. They have Earn
Speaker 1: your Leisure and they have Earn your Leisure Market Mondays,
Speaker 1: So he does market Mondays. He's just like super smart
Speaker 1: and intelligent when it comes to the market, and you
Speaker 1: would think, you know, he's a young brother, and he
Speaker 1: would always say he was like, you know, light on
Speaker 1: crypto because he was like ultimately, he was like, you're
Speaker 1: seeing all these people talk about it because it's sexy.
Speaker 1: I'm here to talk about the investing fundamentals, and I'm
Speaker 1: not convinced that crypto is not it's not still wildly
Speaker 1: swinging yet. This was this was before when crypto was
Speaker 1: doing really well. He was like, yeah, but the market
Speaker 1: has over one hundred years in the game, so you know,
Speaker 1: and so but folks, you know, we're listening to the
Speaker 1: pop up new financial educators who just came to market,
Speaker 1: who you know, just learned crypto, and it just.
Speaker 2: Makes me think about how we have food deserts and
Speaker 2: black communities and all you can get is like the
Speaker 2: corner store with the junk food and the process shit
Speaker 2: and you know, and maybe there's a couple of like
Speaker 2: healthy items there, but the quality of the information is
Speaker 2: so not great by the times, by the time it
Speaker 2: gets to our neighborhoods or wherever we live. And that's
Speaker 2: what I feel. This is indicative of indicative of too.
Speaker 2: You know, we should be able. We need the whole
Speaker 2: foods of financial advice. We deserve that, you know, like
Speaker 2: there should be the fun sprinkles, but there also should
Speaker 2: be the substance, you know, like you have the good
Speaker 2: quality stuff. And for me, that's that basic, you know,
Speaker 2: core investing information so that you're not over indexing on
Speaker 2: that junk. You know.
Speaker 1: So we have Brenna Bishop baby in our Q and
Speaker 1: A yes, that's why you are here listening. You know,
Speaker 1: you get the whole meal. Were not just snacks up
Speaker 1: in here. We might look like a snack, but we
Speaker 1: serve at home wheels up in here.
Speaker 2: I don't think we've ever talked about crypto and on
Speaker 2: this show, because I know there's been like dips in
Speaker 2: the past too, And I think for a hot minute
Speaker 2: I did own like a tiny, tiny bit of bitcoin.
Speaker 2: But it's just anyway, and I think we've only ever
Speaker 2: discussed in the context that I think it deserves to
Speaker 2: be discussed in, which is like, this is a new territory.
Speaker 2: It's you know, it's an untested, new you know asset.
Speaker 2: What what even is it? And and and the reasons
Speaker 2: I think people were drawn to it. It's like, oh,
Speaker 2: it's and there's that lack of fundamental trust in the
Speaker 2: banking sector. I think it just black households in general,
Speaker 2: and crypto felt like that alternative. It felt like something
Speaker 2: that could be ours and didn't have like you know
Speaker 2: that like that that that baggage that came with it.
Speaker 2: But the fact that some people are treating crypto like
Speaker 2: a like a like a savings account, like it's supposed
Speaker 2: to be safe, yeah, from the effects of stock market
Speaker 2: crashes and a recession, like recession proof investment.
Speaker 1: Like yeah, I don't know where that can.
Speaker 2: We blame Paris Hilton or Matt Damon Is it there for?
Speaker 2: Like I don't know, I.
Speaker 1: Don't know, you know, because I read about the case,
Speaker 1: I thought that I think at first well, crypto first
Speaker 1: first came about, like the underbelly of crypto was like,
Speaker 1: so people could do a legal activity. They could do
Speaker 1: bad things with bad people, so you can sell drugs,
Speaker 1: you could do things and not get caught, you know.
Speaker 1: But then like when traditional kind of investors type started
Speaker 1: to latch on, what I was hearing from them that
Speaker 1: crypto is a hedge against around recessions. So as the
Speaker 1: traditional money goes down in value, and well really not
Speaker 1: over hedge against recession, more sure, a hedge against inflation.
Speaker 1: That like, as traditional money loses its value, crypto, because
Speaker 1: it's not tied to like a country or a place
Speaker 1: or government, crypto should remain solid. But what we see
Speaker 1: is that like you know, like that's not true that
Speaker 1: all things are linked. So the dollar bill is you know,
Speaker 1: like what is our inflation right now? Like eight point
Speaker 1: something percent. Crypto has lost about fifty percent of its value,
Speaker 1: if not more, for some cost.
Speaker 2: Unsusceptible to the emotions that drive stock market crashes any
Speaker 2: other asset. I don't understand. How was it not supposed
Speaker 2: to be impacted behind like market forces? How it doesn't
Speaker 2: make any sense.
Speaker 1: Well, now we know we knew natcha.
Speaker 2: This is the test that we've been waiting for. You know,
Speaker 2: what's going to happen with bitcoin again? I think back
Speaker 2: to my like really annoying econ professor from college and
Speaker 2: his Hawaiian T shirts who I'm sure or his Hawaiian shirts,
Speaker 2: who would love this? Like this grand economic experiment that
Speaker 2: we're in right now, Like what will happen? So just
Speaker 2: more data? But this is going to be a hot
Speaker 2: I mean July, y'all girl, like summer time. Everyone's checking out.
Speaker 2: This is Can we check out?
Speaker 1: Can we talk about what our friend Kevin Matthews he's
Speaker 1: building bread on Instagram. He has this great post that
Speaker 1: basically breaks down the four core dates in July that
Speaker 1: in the caption, yes, oh yeah, mark your calendars. Okay,
Speaker 1: So first July eighth, it's the unemployment report we get
Speaker 1: to see is it going up? Is it going down?
Speaker 1: Is it better? Is it worse? That comes out July eighth?
Speaker 1: Mark your calendars? So what comes next?
Speaker 2: Me? Sorry, I guys have that. Mom. I'm sorry, she's like,
Speaker 2: because it's okay for me to take Brio to the park. Yes,
Speaker 2: take him? My bad? What'd you ask me? So?
Speaker 1: Like I said, so July eighth, the Unemployment report comes out.
Speaker 1: So this is a report that's going to help to
Speaker 1: dictate whether or not, you know, unemployment is getting better,
Speaker 1: it's getting worse. What industries are getting better and worse?
Speaker 1: So that comes out July eighth.
Speaker 2: July eighth, Yeah, I think everyone will have their eyes
Speaker 2: on it. Unemployment is still really really low. It's like
Speaker 2: a three point six percent, So if it's starting to
Speaker 2: go up as it has in the past month, and yeah,
Speaker 2: that will be a huge indicator that things are not
Speaker 2: looking good for us. After that, what does keV have?
Speaker 2: July eighteenth, Google Google stock split. Another day, another stock split,
Speaker 2: but this time it's Google.
Speaker 1: Yep, twenty to one stock split. Uh, not that I've
Speaker 1: ever remember, Well, I haven't been investing for like, I mean,
Speaker 1: probably the last ten years, Not that I remember. Maybe
Speaker 1: I'm sure they've done what FO but not that since
Speaker 1: I've been an investor. But it's going to be a
Speaker 1: twenty to one stock split. So means if you have
Speaker 1: one chair, you now will have twenty shares that add
Speaker 1: up to the one chair that you had before. What
Speaker 1: I have seen with so many stock splits, well, we're
Speaker 1: going through a crazy time right now. Anyway that there's
Speaker 1: an initial drop even after the stock split, and then
Speaker 1: like you know, you hope it starts to climb up.
Speaker 1: I mean, Google's kind of a goliath, so you know,
Speaker 1: I mean, I still think it's a solid investment. I'm
Speaker 1: not giveing you investment advice, but it's a solid investment.
Speaker 1: But I don't know I would buy right after the
Speaker 1: initial stocksplit just because they're usually a dip and then
Speaker 1: you know, they get to make the stallion needs to
Speaker 1: come back up eventually, so you might want to start
Speaker 1: buying on the rise that selling. That's July eighteenth, marker calendars.
Speaker 1: July twenty fifth, earning season starts, so for those who
Speaker 1: don't know, earning season is when the like folks, who
Speaker 1: I mean people will start to report their earning. So
Speaker 1: big companies, like big you know, companies that are you know,
Speaker 1: publicly traded will start to report their earnings. And especially
Speaker 1: if you get dividends, meaning like if you are invested
Speaker 1: in a company that per stock will yield you know,
Speaker 1: a dollar per stock fifty cents or whatever, you'll start
Speaker 1: to know what that is. So earning seasons will that
Speaker 1: will they'll start to report out so people either get
Speaker 1: excited or depressed or buy more or less. But that's
Speaker 1: you will get like that will start to be reported
Speaker 1: out July twenty fifth, So that's huge, So you want
Speaker 1: to mark your calendars.
Speaker 2: Yeah, and that sort of ties into the next, you know,
Speaker 2: big date in July, which is July twenty eighth. I
Speaker 2: didn't know this was any big deal or any big
Speaker 2: holiday until Kevin points it out, pointed this out. But y'all,
Speaker 2: we've talked about this in past episodes too, sort of
Speaker 2: like who decides if we're in a recession or not?
Speaker 2: And what does it take to be in a recession?
Speaker 2: And one of the key key if you break it
Speaker 2: down that the main definition is a couple of two
Speaker 2: quarters in a row of a decline in gross domestic product,
Speaker 2: so a decline in what the US is producing and
Speaker 2: how much money we're making as a country. And July
Speaker 2: twenty eighth is when the agency National Bureau of Economic
Speaker 2: what is it and NYBER Economic Research when they basically
Speaker 2: come out and they'll say, okay, based on these earnings
Speaker 2: that we're seeing the GDP of the country, you know,
Speaker 2: has it been two quarters of a decline? Okay? Ring
Speaker 2: the alarm it's recession time maybe, so it's you know,
Speaker 2: I would argue that whether or not they ring any
Speaker 2: bell when there's a recession coming, like, you should still
Speaker 2: be taking steps now, like every day I think throughout
Speaker 2: our you know, just basic and financial good practices are
Speaker 2: to you know, keep your debt low, keep a plan
Speaker 2: for paying down your debt, keep a plan for saving
Speaker 2: and investing, you know, keep your emergency funds on the side,
Speaker 2: so you're always ready for a recession. But yeah, we'll
Speaker 2: see what happens. It's like winter is coming, I.
Speaker 1: Know, so like yeah, so that twenty eighth, it'll yeah,
Speaker 1: it'll be official, official, official. Now it's different from last
Speaker 1: time because remember we entered into our session during COVID,
Speaker 1: but it was such a quick turnaround. I don't believe
Speaker 1: if we enter into too a recession that that's what's
Speaker 1: going to happen, because the jump jumped up so much
Speaker 1: it was almost an unnatural So what we're seeing, if
Speaker 1: you ask me, is kind of like a course correction
Speaker 1: from all that growth. And so yeah, so Gurja Loins,
Speaker 1: you know, we might be in for kind of like
Speaker 1: a bumpy you know, kind of a bumpy ride. You know,
Speaker 1: we've lived through it before, and that's recessions are quite
Speaker 1: are quite cyclical, so you know, they come and they go.
Speaker 1: And I think a depression is I believe it's it's
Speaker 1: is it six months of I think that's what a
Speaker 1: depression is. Like, I think it's like six months like
Speaker 1: of GDP, like you know, on the decline, and you know,
Speaker 1: the last depression was the Great Depression. Something else that
Speaker 1: Kevin shared that I thought that was like, Oh, you're right.
Speaker 1: In the comments is July thirteenth, we'll get the latest
Speaker 1: inflation numbers. So before all the shenanigans, I remember, inflation
Speaker 1: for the longest time hovered around three percent. Now we're
Speaker 1: over eight percent, so we'll see where we are now now.
Speaker 1: Something actually, my mentee Eacy just texts me today that
Speaker 1: I thought was really interesting. She said that she's like,
Speaker 1: can you take a look at this? So a financial
Speaker 1: person that she like follows was like, here's the thing
Speaker 1: that we are as a country. Are we losing our
Speaker 1: top world world status status? You know, meaning typically after
Speaker 1: one hundred years this happened where you know, at one
Speaker 1: point it was Germany, that France, you know, Rome, and
Speaker 1: so like, are we really just seeing like this is
Speaker 1: like the beginning of the decline of US being like
Speaker 1: the number one world power. Maybe maybe China is up next,
Speaker 1: maybe Japan is up next, and maybe so because you know,
Speaker 1: if we look at what history tells us, you know
Speaker 1: that we're in the final stages of that they call
Speaker 1: thee hundred year Empire, So like every hundred years a
Speaker 1: new empire becomes becomes like the number one empire. Like obviously,
Speaker 1: like look at Europe, they're still here, you know, look
Speaker 1: at those countries that I mentioned before, they're still here,
Speaker 1: but they're not you know, the United States for a
Speaker 1: long time has been number one people. We were at
Speaker 1: the gold standard as far as like money and the dollar,
Speaker 1: and so maybe you were at the we're slowly but
Speaker 1: surely at the end of that. And I don't know,
Speaker 1: but you know, if that's so, you know, maybe you
Speaker 1: know it might be in another you know, twenty or
Speaker 1: ten years before that actually happens. But no one stays
Speaker 1: up forever, you know. So yeah, like you know.
Speaker 2: It doesn't feel like the number one place to live.
Speaker 1: Not know what I'm saying.
Speaker 2: Yeah, I think like a lot of people these like listening,
Speaker 2: I'm here in Saint Louis, which is, you know, not
Speaker 2: the best place to be in general, but yeah, in
Speaker 2: this neighborhood, just all these fireworks going off and all
Speaker 2: the excitement. I'm like, well, what for exactly? I mean,
Speaker 2: there still no birthday property.
Speaker 1: You know, you're active in school and your mom's like,
Speaker 1: nope're day party. You're like, what, Yeah, you've been acting
Speaker 1: a USA. No birthday party for you.
Speaker 2: I mean people, you do put the US on a pedestal,
Speaker 2: But no, I don't think that. I think for a
Speaker 2: long time we've seen how untrue it is that we
Speaker 2: have everything right and that's okay. I think honestly, people
Speaker 2: are more driven to fight back and to want to
Speaker 2: fix things when we are not all underneath, Like we're
Speaker 2: not operating under this false belief that everything is perfect
Speaker 2: and things are rosy and why do anything things you're fine.
Speaker 2: I think we're seeing that things are not fine. So
Speaker 2: hopefully that will like drive people to actually do something.
Speaker 2: But this month, like if the let's do worst case scenario,
Speaker 2: because sometimes it makes me feel better just to look
Speaker 2: at the scary thing worst case scenario. We are gonna
Speaker 2: officially be considered a recession at the end of July,
Speaker 2: and then what happens, markets will probably go a little haywarm,
Speaker 2: as they already have done. I think we can absolutely
Speaker 2: expect more layoffs to come. We've seen some layoffs here
Speaker 2: and there. I mean, layoffs are always happening, but of
Speaker 2: course during times like this there's extra scrutiny. But I
Speaker 2: think we'll definitely see more layoffs. What I think happens
Speaker 2: too is there's a there's an important psychological impact of
Speaker 2: being told okay, it's a recession. Yeah, And not just that,
Speaker 2: but for other for business leaders to see other business
Speaker 2: leaders choosing to cut costs and reduce you know, labor,
Speaker 2: then maybe they're more likely to make a similar decision themselves.
Speaker 2: But I have to say I was at it. I
Speaker 2: was at a wedding this weekend with an old buddy
Speaker 2: of mine who is just a brilliant, a brilliant sort
Speaker 2: of investing analyst, and he was saying, how, you know,
Speaker 2: in some of the trends that he's seeing, some companies
Speaker 2: are choosing rather maybe they would cut, maybe they would
Speaker 2: reduce costs. Obviously they would if they if they cut
Speaker 2: some jobs now, but that there's still this feeling that
Speaker 2: when they want to rehire it's going to be so
Speaker 2: damn hard to find people because the labor it is
Speaker 2: still pretty tight, that they'd rather just waste, not waste,
Speaker 2: but rather lose the money by keeping staff on and
Speaker 2: crite it out than having to put the put the
Speaker 2: resources into like recruiting down the line. And for him
Speaker 2: to say that, I was just like, yes, and there's
Speaker 2: not always black and white, and especially for folks who
Speaker 2: are you know, concerned, what does this mean for my
Speaker 2: career prospects and all of that. I still think there
Speaker 2: will be opportunities for you know that top talent and
Speaker 2: top talent within companies now. But you know it's not
Speaker 2: all in our control at the end of the day.
Speaker 1: Yes, well, I know it's a heavy lot that we
Speaker 1: put on y'all, but.
Speaker 2: It is Asia. Maybe Desia should post yay America on
Speaker 2: TikTok and then people would people will start.
Speaker 1: Right, Can you can you you know, do a TikTok
Speaker 1: so we could turn things around to talk.
Speaker 2: For the s m P. Five hundred.
Speaker 1: Yeah, Well, I'll say this so if you haven't listened already,
Speaker 1: well before we take our break. If you haven't listened already,
Speaker 1: keep listening here, but go back to our last b
Speaker 1: a q A because if you're like, how do I
Speaker 1: even prepare for a recession? We got you. We answer
Speaker 1: that question super thoroughly so you can you know if
Speaker 1: you don't know, Every Friday we have a b a
Speaker 1: q A and we answer that question there so you
Speaker 1: can dive deep and start to prepare.
Speaker 2: So all right, what should we take a quick breaking
Speaker 2: break and come back to break?
Speaker 1: Yes we should. Now it's time for boost break up,
Speaker 1: boost break, booz.
Speaker 2: Break?
Speaker 1: Are you gonna booze? Are you gonna break?
Speaker 2: Yes? Yes?
Speaker 1: Are you gonna Are you gonna break? What you gonna do? Okay?
Speaker 1: Boosty breaking time? So mandra are you gonna boost? Are
Speaker 1: you gonna break?
Speaker 2: Permission to break? Please?
Speaker 1: Yes? Permission? Granted I was gonna say we've been boosted
Speaker 1: alive because it's been dork times down here, but you know.
Speaker 2: Yes, it's okay not to be Okaylado said, Oh I
Speaker 2: liked that. Yes, yeah, So what I have not been
Speaker 2: okay with is and I won't name names because you know,
Speaker 2: I'm out here trying to get these influencer dollars in
Speaker 2: these streets. But my business bank account that I chose
Speaker 2: last summer, I did my research, I wanted to find
Speaker 2: a bank that had low fees and online only experience
Speaker 2: was relatively well reviewed, and my top choice at the
Speaker 2: time was no longer accepting new applications because they were
Speaker 2: kind of startup anyway. So went with this one particular bank.
Speaker 2: And it's been a year and it's such a pain
Speaker 2: in the butt to switch banks, but I had to
Speaker 2: do it because I think it's so important. Obviously to
Speaker 2: have digital only experiences is wonderful because they tend to
Speaker 2: give you as a bank will give you higher returns,
Speaker 2: like higher rates on your savings and checking, and they
Speaker 2: don't charge those fees. You know. I was a new
Speaker 2: business owner. I didn't know how much money I was
Speaker 2: going to have on my account, so I didn't want
Speaker 2: to immediately get an account that was like, you know,
Speaker 2: twenty five dollars a month unless you have this minimum
Speaker 2: deposit or this many you know, transaction actions a month
Speaker 2: or whatnot. So I chose this bank, and the online
Speaker 2: experience is so shite, so horrible. I was sick of it,
Speaker 2: like always had and like having to change my password
Speaker 2: every couple of months, and then not only that, but
Speaker 2: I was supposed to be given a relationship manager, someone
Speaker 2: who had a name who I could reach out to.
Speaker 2: Shout out to Chris, who I don't even know if
Speaker 2: you exist or not, never took my phone calls, like
Speaker 2: and I got locked out of my account and I
Speaker 2: wasn't able to pay a vendor or sorry pay it,
Speaker 2: like yeah, pay someone that was helping me on a project.
Speaker 2: And it was just such a hot mess. So I
Speaker 2: swallowed my pride because I thought I made the right decision.
Speaker 2: And I was like, let me go find a better
Speaker 2: bank account and let me be really specific and actually
Speaker 2: see if I can get like a preview of their
Speaker 2: system and like see the back end. And I am excited.
Speaker 2: I found a different bank. I'm only a weekend, so
Speaker 2: I'm not about to endorse any new bank. But the
Speaker 2: way that I had to the list of things that
Speaker 2: I had to update, I went on my Trello. Do
Speaker 2: you use Trello?
Speaker 1: I did?
Speaker 2: I love Trello. I just made myself a Trello card.
Speaker 2: And for anyone who's who's dealing with the shitty bank
Speaker 2: and you know you want to choose, you know you
Speaker 2: want to leave, and you know that you should leave,
Speaker 2: just take it from me. Just list out all the
Speaker 2: accounts that you need to update and just you know,
Speaker 2: take a couple hours and just get it done. My
Speaker 2: peace of mind has returned. I'm so happy that I
Speaker 2: voted with my dollars and like taken money away from
Speaker 2: a really terrible experience. So yeah, break to bad customer
Speaker 2: support and a boost to the ones who were doing
Speaker 2: it right, and shut it to my new bank. I'll
Speaker 2: let you guys know another year whether or not I
Speaker 2: made the right choice.
Speaker 1: Well, I'm going to keep the I'm trying to think
Speaker 1: I had a break, but I was just like yeah,
Speaker 1: So instead, I'm going to just keep the gig or
Speaker 1: money trained going. I just hit fourth four thousand reviews
Speaker 1: on Amazon, which is like, I see, I can't even believe.
Speaker 1: I'm not gonna lie. I'm like, yes, it is a lot.
Speaker 1: And what's so crazy is of the four thousand reviews,
Speaker 1: three thousand, nine hundred and eighty four or five star
Speaker 1: reviews And that makes only days I know, only stem
Speaker 1: unheard of even I'm like, damn, did I body's not. Oh,
Speaker 1: but I'm just like that's crazy. Only sixteen of the
Speaker 1: four thousand are not a five star. Yeah, it really is,
Speaker 1: And I just have to say, like I have like
Speaker 1: a I don't know if I can say so, but
Speaker 1: we have something coming up for Gegor. That's why I
Speaker 1: was meeting with my publisher and my agent today to
Speaker 1: help extend and beyond what I've done already. So I'm
Speaker 1: excited for what that looks like. But yeah, it just
Speaker 1: you know what it does. It makes me feel really
Speaker 1: good because this is what I intended. So you know,
Speaker 1: like you know, May's writing a book, but this is
Speaker 1: for anybody doing anything that, like you know, there's like
Speaker 1: the initial intent and certainly you want to do well,
Speaker 1: you want to sell YadA, YadA, YadA, whatever, the initial
Speaker 1: thing you're one to do when you're launching something new.
Speaker 1: But I like to also fast forward two years, five years,
Speaker 1: ten years, twenty years, and what I wanted was, what,
Speaker 1: like the four hour work we had, I will teach
Speaker 1: you to be rich that I wanted it to be
Speaker 1: a resource that people can lean into years and years
Speaker 1: and years from now. So I wrote it with the
Speaker 1: intention of, yes, I want to do well now, but
Speaker 1: even more importantly, I want to be there for you later.
Speaker 1: Now that we're entering into this recession, I'm like, this
Speaker 1: is an awesome tool I know, I wrote something solid
Speaker 1: and good and useful, and so I'm just really proud
Speaker 1: that what I intended and what I work toward, you know, besides,
Speaker 1: like you know, the good sales and all that kind
Speaker 1: of stuff, it's like happening because this is beyond dreamcatchers.
Speaker 1: This is beyond people who know me, Like I have
Speaker 1: like white dudes coming up to me and saying like,
Speaker 1: oh my god, I love your book. I'm like, what,
Speaker 1: because I wrote the book first and foremost this is
Speaker 1: like the inner circle word for black women, and then
Speaker 1: the circle beyond that was for women of color, and
Speaker 1: then the circle beyond that was for all ways women
Speaker 1: and then men of color and then white men. Because
Speaker 1: y'all get everything for the one or two that might
Speaker 1: be listening, right, So I always like, you know, that
Speaker 1: was the intention. And so if you do, if you do,
Speaker 1: I don't want to say, do a good job. If
Speaker 1: you do the job that you intended, then you do
Speaker 1: hit your core group. But it does indeed spread outward.
Speaker 1: And to have people come up to me to read
Speaker 1: review from people who are not part of like the
Speaker 1: inner circle, then the circle, then the cir it just
Speaker 1: really like it just blows my mind, and I'm just
Speaker 1: really proud of like just really proud of it. So
Speaker 1: if you're working on something, you're working on your book,
Speaker 1: you're considering putting something out there, like just keep in mind,
Speaker 1: like what is it that you're wanting, like you know,
Speaker 1: five years, ten years, twenty years from now, because you know,
Speaker 1: just like like I said, I'm just really proud of it,
Speaker 1: Like I was like four thousands refuse wow, because you know,
Speaker 1: like I'm not famous. I mean, I know y'all know me,
Speaker 1: but you know, in the real life, real streets, don't
Speaker 1: nobody really know me except for some out there at
Speaker 1: hole Foods, right, But so it's just it feels really
Speaker 1: good that that means it's really helping because people are
Speaker 1: not getting it because they're like, that's that budgeonist, the
Speaker 1: girl Like people are just like I don't even know her,
Speaker 1: but I've heard good things. That's my boosty, my extra
Speaker 1: blackie brown boostie.
Speaker 2: I mean, always bound down to your book success. And
Speaker 2: I don't think we really celebrated your book a versary either.
Speaker 2: Do we miss it?
Speaker 1: I don't think yeah we did it. Yeah it was
Speaker 1: it was I want to say, like March thirty first
Speaker 1: or March thirtieth or something like. It was a day
Speaker 1: before April first.
Speaker 2: Yeah, totally. So this feels like hell.
Speaker 1: Yeah, yeah, if you want to get it, go ahead.
Speaker 2: On five thousand, about to hit two hundred thousand any
Speaker 2: day now.
Speaker 1: Well I'm hoping by the end of the year one
Speaker 1: hundred thousand hard copies. So that was like a new
Speaker 1: like you know, that's just yeah and so, but yeah,
Speaker 1: if y'all are interested, it's gecked with Money. I mean,
Speaker 1: they're sold everywhere, but get Good with Money dot com.
Speaker 1: What I like about gek Go with Money is that
Speaker 1: we always showcase a black typically women own bookstore that
Speaker 1: you could purchase the book from. So that's always showcased
Speaker 1: on top. And then the other places were like you
Speaker 1: can get it from targeting a yeah yeah, yeah, but
Speaker 1: you want to help a sister out, not me sister,
Speaker 1: but that sister, then you could get it directly from
Speaker 1: her as well.
Speaker 2: So you have that on Kicking with Money dot com.
Speaker 1: Right, yeah, if you go to get your money dot com,
Speaker 1: it's always right at the top. I don't know who
Speaker 1: showcased this month, yes, I you know, I don't know
Speaker 1: who showcase this week, but we try to we try
Speaker 1: to switch it out every month. Right now we have
Speaker 1: the Black Dot Cultural Center. They're in Georgia, and so yeah,
Speaker 1: like you can you know, buy directly from them, so
Speaker 1: really try to you know, round it out. So that
Speaker 1: may because these small bookstores, that's how they stay alive,
Speaker 1: you know, and so like, you know, if you don't
Speaker 1: mind spending because typically I'm not gonna lie if Amazon
Speaker 1: always has a sale, but if you don't mind spending
Speaker 1: extra two or three dollars whatever, you know, it makes
Speaker 1: sure that you know, these bookstores see some sales as well.
Speaker 1: So we try to make sure that I think you're
Speaker 1: going to do.
Speaker 2: Like book did you do a lot of books bookstore appearances?
Speaker 1: I did? I couldn't. It was literally the middle of COVID.
Speaker 2: It was COVID.
Speaker 1: Yeah, yeah, I didn't do any bookstore I didn't want.
Speaker 1: I don't know. I have something that may be coming up,
Speaker 1: and maybe for that I'll do a tour. So I'll
Speaker 1: dis give the little you know, y'all the first to
Speaker 1: hear first, they probably gonna be like, my age is
Speaker 1: probably activity. If you don't shut the hell up, we're
Speaker 1: I supposed to talk about. So maybe I'll do a
Speaker 1: tour for that, but I didn't. I literally couldn't. I
Speaker 1: although when COVID it didn't lift, but people were going outside.
Speaker 1: I did do this amazing black bookstore called Mahogany Books
Speaker 1: in DC. I think they have one in Maryland and
Speaker 1: one in DC. Ramanda and her husband are amazing. I mean,
Speaker 1: their bookstore is so beautiful. So that was the only
Speaker 1: in person one that I did, and we were still
Speaker 1: masked up then, so you know, I would, honestly, I
Speaker 1: would enjoy that because I like getting down hugging dream
Speaker 1: catchers and like, you know, holding babies and you know,
Speaker 1: and all of that.
Speaker 2: So we'll see. I think that I'll be first in line.
Speaker 2: I feel like you could be like the Michelle Obama
Speaker 2: of personal finances and just sell out stadiums, can you.
Speaker 1: I don't know about all that. Sell libraries. Libraries tend
Speaker 1: to see their libraries like, look, it's full, Like I
Speaker 1: don't have to come to see y'all.
Speaker 2: Hey, Hey, just tell book talk, make it happen.
Speaker 1: I'm saying, dager, you want a girl. We thank you,
Speaker 1: all right, y'all. Hopefully we took you on the roller
Speaker 1: coaster ride up good. Oh no, we're good Okay. Wait.
Speaker 1: As per usual, our usually be a roller coaster ride,
Speaker 1: but ultimately we're gonna be, Were gonna be I.
Speaker 2: We're always gonna be. Keep listening, keep doing the fundamentals,
Speaker 2: focusing on the fundamentals, don't get distracted by sexy sprinkles,
Speaker 2: and we'll all be fine. All right, Yes, stick around.
Speaker 2: This Friday will have another episode of Be A, Q
Speaker 2: and A so definitely check it out and as ever,
Speaker 2: send us your questions and all you love. While you're
Speaker 2: reviewing Tiffany's book, go review our show while you're at it. Yeah,
Speaker 2: you know what I'm saying on udistian podcast dot com.
Speaker 1: And share this podcast with your bestie. Hello, she needs
Speaker 1: to listen.
Speaker 2: Absolutely your bestie and your bestie's bestie. All right until
Speaker 2: next week. Bye, Hey, ba fan, We could not do
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Speaker 2: team behind the scenes. The Brown Ambission podcast is produced
Speaker 2: by Cumulus Podcast Network. It's edited by the wonderful Imani
Speaker 2: Crosby and produced by Tanya Bustos. Dennis Stimplinsky is our
Speaker 2: in house tech curu, and I am Bandy Woodard Santos,
Speaker 2: your co host, and I will see y'all next week,