Speaker 1: Hey, hey, hey, I've been in the house all day.
Speaker 1: But probably some of you welcome back, welcome black.
Speaker 2: To brown ambition. That's a good day. I haven't left that.
Speaker 3: I haven't actually left my house other than maybe to
Speaker 3: go to the backyard since Friday, I realized, which is
Speaker 3: not good for anybody, no one's mental health.
Speaker 1: It's like, honestly, I honestly, I really in like the
Speaker 1: what's been like six weeks now since we've been home.
Speaker 1: I really have gone on out very very little. But
Speaker 1: yesterday I had to go to the pharmacy to get
Speaker 1: my my prenatal vitamins. And when I went, and then
Speaker 1: because my sister also told me that pull ups are
Speaker 1: like sold out everywhere, and I happened to see some,
Speaker 1: I was like, oh, but it was so weird to
Speaker 1: be there because it won they were only letting I mean,
Speaker 1: Walgreens is a big pharmacy, and they were only letting
Speaker 1: in less than ten people in at a time, and
Speaker 1: you had to have a mask on, So it was weird,
Speaker 1: like kind of like standing outside to wait six feet apart.
Speaker 2: It just it was like this dystopian society, you know,
Speaker 2: it's the new normal.
Speaker 3: Yeah, it is actually husby went to CVS to get
Speaker 3: something for me yesterday and he said the same thing
Speaker 3: he had, Everyone had to wear masks. Shout out to
Speaker 3: all the people out there making masks and sending them
Speaker 3: and donating them. My aunt Ann in Wisconsin, Hey Anne,
Speaker 3: who does not listen to the show or probably know
Speaker 3: what a podcast is. She sent us two hands own masks.
Speaker 3: And then my dad had a couple of and whatever
Speaker 3: masks that he fedexed over here. My dad also offered
Speaker 3: to FedEx me overnight kale. I was just complaining about whatever.
Speaker 3: You know, I'm not trying to say this is a
Speaker 3: real problem, but I couldn't find kale anywhere because all
Speaker 3: the suburban people where I live were just eating up
Speaker 3: all the kale. And he went to Walt and he
Speaker 3: legitimately was going to overnight ship me kale.
Speaker 2: This man has.
Speaker 3: Overnight shipped me food before, like he will overnight ship
Speaker 3: me thanks giving me leftovers. That's just what my dad does.
Speaker 3: He's that kind of person.
Speaker 2: Oh I love it.
Speaker 3: I was like, no, Daddy, I don't need the kale
Speaker 3: that bad, but love you. He sent me some masks too,
Speaker 3: which was which was sweet. Yeah, I think like a
Speaker 3: lot of people. We listened to the advice, which was
Speaker 3: leave the masks for the healthcare workers and don't buy any.
Speaker 3: And then now it's mandatory to in New York to
Speaker 3: wear them when you can't stay six feet apart.
Speaker 2: And we're like, oh no, we don't have any.
Speaker 3: So glad that my aunt and my dad, well, my
Speaker 3: aunt helped out.
Speaker 1: It's just crazy out here in these streets. In these streets,
Speaker 1: it's just I don't know's there's highs, there's lows, there's
Speaker 1: low lows. You know, you hear about your friends online.
Speaker 1: Some of my friends have already lost like four or
Speaker 1: five people, and I'm just like, oh my gosh, it's
Speaker 1: just a lot.
Speaker 2: It's too much. And you just don't I don't see.
Speaker 1: Like when it comes to financial things, even though when
Speaker 1: it seems like it's overwhelming, kind of in the back
Speaker 1: of your mind, you know that there's a solution or
Speaker 1: there's a way out. But when it comes to health,
Speaker 1: it's you feel so helpless, you know.
Speaker 3: Yeah, I mean, in the one sense, I do know
Speaker 3: that there are smart scientists out there and we have
Speaker 3: we have the capability to find a vaccine. It's just
Speaker 3: not going to be for a long time, and so
Speaker 3: it's like it's it's trying to let go of the
Speaker 3: sense of control we have over the vaccine, which we
Speaker 3: have none. We can just trust that, you know, I
Speaker 3: just trust in our scientists, and I hope that our
Speaker 3: leadership get that out of their way and lets them
Speaker 3: do their job, and you know, everyone continues to stay safe,
Speaker 3: stay home in the meantime. Yeah, it definitely feels like
Speaker 3: this is a new normal for a while, but we
Speaker 3: need to sort of make peace with that. The other
Speaker 3: side of it is, of course, we talk about a
Speaker 3: lot is the financial side. And I heard a lot
Speaker 3: of people got their stimulus checks this past week. If
Speaker 3: you filed your taxes in the past and you got
Speaker 3: your or tax refund deposited directly into your bank account,
Speaker 3: you should have gotten your stimulus check or stimulus sorry,
Speaker 3: economic impact payment, it's what they're calling it by now,
Speaker 3: and hopefully it helps a little bit. I got a
Speaker 3: note from one of our listeners who said that she
Speaker 3: was going to use it for a card down payment.
Speaker 2: You know, do what you gotta do, Okay, do what
Speaker 2: you're going do. It's okay, it's no adjustment.
Speaker 3: Maybe you need that car to go to work and
Speaker 3: that's fine, but yeah, I mean hopefully that helps people.
Speaker 3: I know a lot of folks I work with work
Speaker 3: excited when they got their checks. I keep saying checks,
Speaker 3: even though it was direct deposited.
Speaker 2: It's a little something.
Speaker 3: And we definitely went ahead and file their tax return
Speaker 3: just so because we were getting a refund and I
Speaker 3: was like, yeah, let's just get this done and dusted.
Speaker 3: I hope that folks are finding some sort of relief
Speaker 3: from that. I know it's not very much. Twelve hundred,
Speaker 3: what's the max? Twenty four hundred? You guys are listening
Speaker 3: to this show On Wednesday, I got an alert from
Speaker 3: IRS dot gov yesterday that if you're someone who is
Speaker 3: on Social Security benefits, you may not have gotten as
Speaker 3: much as you should have if you have a dependent
Speaker 3: at home, and they're giving everyone until the twenty second
Speaker 3: of April, which is tomorrow, to go to IRS dot
Speaker 3: gov and update their filing so that they can get
Speaker 3: that extra five hundred dollars. So I'm gonna post a
Speaker 3: link in the show notes, and if you're listening to
Speaker 3: this and that's you, I don't know if anyone is,
Speaker 3: I'm going to post a link to that IRS notice,
Speaker 3: so that you guys can hopefully get all the coins
Speaker 3: that you should be getting right now.
Speaker 1: It's just so much to process. Sh Yeah, but that
Speaker 1: was super helpful. It's just like, ah, there's so many
Speaker 1: money questions. I mean, that's when I tell you the
Speaker 1: level of I mean, what I love about our listeners
Speaker 1: and Dreamcatchers is that they always have a ton of
Speaker 1: financial questions. But the thing, like my inbox has been kaboom.
Speaker 1: I'm like, uh, sis, I can't even keep up. Can
Speaker 1: you keep up?
Speaker 3: No?
Speaker 1: I cannot, so and we try our best, Like even
Speaker 1: in the Facebook group, like oh my god, what stimulus
Speaker 1: came out? We actually had to start banning. You know,
Speaker 1: we have a DreamCatcher Facebook group. It's like five hundred
Speaker 1: thousand mostly women. We actually had to ban stimulus talk
Speaker 1: for a while because every post was about stimulus, and
Speaker 1: quite honestly, some of the questions were questions that there
Speaker 1: was no answer for just yet, like well what if
Speaker 1: you know, what if I I changed my bank account
Speaker 1: some last time, and what if I moved from where
Speaker 1: the check is It's like, well, there was no there
Speaker 1: was no answer to those things at the time, so
Speaker 1: it just became just overwhelming and then I get it
Speaker 1: because people are like, what am I supposed to do?
Speaker 2: There's very little direction from the quote unquote.
Speaker 3: Top there's at least IRS dot gov, and they are
Speaker 3: trying to keep up with the questions. So I'm going
Speaker 3: to again post a link to the FAQ from the
Speaker 3: IRS dot gov because it has answers to those kinds
Speaker 3: of questions. And you know, we got I got an
Speaker 3: Instagram message from someone who sent me a link to
Speaker 3: IRS dot gov to their page about the Economic and
Speaker 3: Impact payments, and they asked, is this legitimate? And I'm like, yes,
Speaker 3: IRS talk of is in fact legitimate? If it's not, like,
Speaker 3: if we can't trust the IRS, what's what's going on? Yeah,
Speaker 3: So one of the you know we talked, obviously, millions
Speaker 3: and millions of people are filing for unemployment benefits right
Speaker 3: now trying to figure out what they're trying, you know,
Speaker 3: how they can bring an income if they've lost their jobs.
Speaker 3: Another what I was I kind of joked about this,
Speaker 3: but I had been seeing remember Susie Orman, she really
Speaker 3: had a huge wave that she rode like a lot
Speaker 3: of personal finance experts did after the two thousand and
Speaker 3: eight financial crisis and really people flock to her for advice,
Speaker 3: and then I don't know, I feel like I didn't hear
Speaker 3: from her in a long time. Well, Susie is back
Speaker 3: with a vengeance, and I started to see people sharing
Speaker 3: some advice that she was giving a couple of weeks ago.
Speaker 3: And one of the things that stuck out to me
Speaker 3: was Susie was like, you guys need to run up
Speaker 3: your credit cards now, don't yes run up your credit cards?
Speaker 3: Essentially because she said, if you have to choose between
Speaker 3: putting food on the table or paying your mortgage versus,
Speaker 3: you know, putting a bill on a credit card, uh,
Speaker 3: put that, put whatever on your credit cards, that you
Speaker 3: keep your liquid cash available for the essentials for food
Speaker 3: and such like that. And the reason she was saying
Speaker 3: it and I get it now, is because when these
Speaker 3: types of financial situations happen, when we have a downturn
Speaker 3: like we're having now. We saw this back in the
Speaker 3: O Wait crisis too, banks will literally start to hedge
Speaker 3: their own risks. They will say, oh, crap, in the
Speaker 3: past ten years, we've been giving people a lot of credit,
Speaker 3: and we're afraid that a lot of folks who're either
Speaker 3: losing their jobs or they're listening to people like Susie
Speaker 3: Orman and are going to start racking up their credit
Speaker 3: cards because you know, they fear that they won't have
Speaker 3: access to that credit or that they you know, need
Speaker 3: that extra capital because they've lost their job or whatnot.
Speaker 3: Banks are literally in some cases, we've heard from our
Speaker 3: audience that banks are starting to reduce credit limits and
Speaker 3: people I could see that, Yeah, they're they're just finding out, oh,
Speaker 3: my credit limit's been slashed. One person reached out to
Speaker 3: one of the credit experts on your team and said
Speaker 3: that they had been slashed from seventeen thousand dollars limit
Speaker 3: to a five hundred dollars limit. What. Yes, absolutely, and
Speaker 3: it's totally fine for banks to do this. And it's,
Speaker 3: like I said, they know that they have a lot
Speaker 3: of risk right now because like Susie Orman is recommending
Speaker 3: this thing. I mean, it sounds like bad. It sounds bad.
Speaker 3: It's everything that we usually say don't do, don't run
Speaker 3: with your credit cards. But Susie's point is that, well,
Speaker 3: you know, your mortgage is tied to your house. If
Speaker 3: you've default on your mortgage, you could lose your house,
Speaker 3: whereas a credit card is unsecured, right, Yeah, you can
Speaker 3: file bankruptcy to well it's not obviously the best solution,
Speaker 3: but there's you it's unsecured. You're not going to lose
Speaker 3: your car which you need for work, or your house,
Speaker 3: but you need for you know, for your family. The
Speaker 3: same way with a credit card. And of course banks
Speaker 3: know that they're riskier, that's why they have higher aprs yep.
Speaker 1: And so I think I was just reading someplace that
Speaker 1: I don't know if it was a CNBC that like,
Speaker 1: credit card debts are passed one trillion dollars for the
Speaker 1: first time last year. So can you imagine if thirty
Speaker 1: percent of people are not making credit card payments and
Speaker 1: what that could do to the credit card industry that
Speaker 1: is at the next bubble to burst. I feel like, oh,
Speaker 1: just seeing like what happened with oil today, No, it
Speaker 1: was it today, It was that yesterday of how oil
Speaker 1: prices fail to negative for the first time ever, ever,
Speaker 1: ever in history, And so I just feel like sometimes
Speaker 1: there's like dominoes. Sometimes it's like one thing falls, and
Speaker 1: then sometimes it's like all the things are falling, like
Speaker 1: a historic crash going on, like in the oil market.
Speaker 2: Like, so what are like what next.
Speaker 1: It's like, even if we are better and healthier, the
Speaker 1: financial landscape is just in shambles. And what does that
Speaker 1: mean for us? You know, I have to believe.
Speaker 3: I have to lift you up, Tiffany. I today I'm
Speaker 3: the optimist.
Speaker 2: And usually that to me.
Speaker 3: And I'm like, you sound you sound really dead down
Speaker 3: right now. But we are a recession, like we survive
Speaker 3: the O eight crisis in a lot of ways, that
Speaker 3: was worse, I think financially. You know, we didn't have
Speaker 3: the stimulus bill back then, it was a bank bailout. Now,
Speaker 3: sure the stimulus checks aren't much, but there's something. And
Speaker 3: if and Congress is about to pass another huge multi
Speaker 3: billion dollar, if not trillion dollar bill to increase funding
Speaker 3: for small businesses, I feel like we are we will
Speaker 3: bounce back. But you're right, the same way the financial
Speaker 3: landscape was forever changed by the O eight crisis. It
Speaker 3: will be changed, I hopefully, uh for the better. But yeah,
Speaker 3: I mean, stay with us, Tiffany, stay stay, stay optimistic.
Speaker 1: You know it's so crazy because it's like I'm okay,
Speaker 1: I guess that's what it what it is. It's like, ah, man,
Speaker 1: it's just just the flood to see how many dream
Speaker 1: catchers reach out who are afraid and scared, like because
Speaker 1: of what happened in eighth nine, I have been fortifying
Speaker 1: myself for like the last ten years against this. So
Speaker 1: I feel fairly certain that I'm you know, I'm okay.
Speaker 1: I've got more than a year's worth of emergency saving.
Speaker 2: Saved, you know. I I'm okay.
Speaker 1: I have a strong business that actually does better in recessions.
Speaker 1: But it's just I don't know, I just you know,
Speaker 1: sometimes I think to myself, like, Yo, what would preschool
Speaker 1: teacher at that time Tiffany do right now? Or Tiffany
Speaker 1: who had just lost her job? What would I have done?
Speaker 2: And so I guess it's just I think about those
Speaker 2: people and I'm just like, ah, what are they gonna do?
Speaker 2: What are they gonna do?
Speaker 1: One thing I know for sure is that good times
Speaker 1: and bad times nothing lasts forever. So I know we're
Speaker 1: not always going to be in this position, and human
Speaker 1: beings are very resilient, So I know that there's an
Speaker 1: other side to this. It's just like it could just
Speaker 1: be really like overwhelming. Especially I think I am what
Speaker 1: is that word? When I'm an EmPATH? When you know
Speaker 1: someone who's like an emotional sponge. So sometimes I think
Speaker 1: I'm just maybe soaking up too much worry out there,
Speaker 1: and some I just need a break from it.
Speaker 3: You know, No, I mean the anxiety and the financial
Speaker 3: turmoil is real, like people who were on part of
Speaker 3: the gig economy or had incomes that were you know,
Speaker 3: living paid check to paycheck. It definitely is and I
Speaker 3: want to I don't want to minimize those challenges at all,
Speaker 3: because they really are out there. And again, I will
Speaker 3: post resources so people can find ways to file for
Speaker 3: unemployment benefits.
Speaker 2: I'll post something for you guys.
Speaker 3: Who need to rely on like your local food bank,
Speaker 3: and for those of us who are in a more
Speaker 3: privileged place. And I'm like you, Tiffany, my wounds from
Speaker 3: the Great Recession really helped me, like you said, four
Speaker 3: to fy my financial foundation the past ten years and
Speaker 3: be really you know, a stickler about savings. And I'm
Speaker 3: glad that it did. And because I'm in this position now,
Speaker 3: I think the way that we can cope with some
Speaker 3: of our anxiety is to and feel like, how can
Speaker 3: we help people is we can donate, we can give back.
Speaker 3: One of the things I did is I sent fifty dollars,
Speaker 3: which isn't a lot, but I sent it to the
Speaker 3: woman who was giving me postnatal massages and really just
Speaker 3: brought my body back. My body was wrecked after I
Speaker 3: gave and I loved her Kim May, and I was
Speaker 3: doing that once a month for my own mental health,
Speaker 3: and I was so sad I wasn't able to and
Speaker 3: she told me all about how you know, she's around
Speaker 3: my age, and she had really started to really become
Speaker 3: passionate about post natal care and prenatal care for women. Anyway,
Speaker 3: I send her a tip on Venmo, and Venmo is
Speaker 3: choosing some people who were doing that to match their
Speaker 3: tip for people. And I donated to the prenatal yoga
Speaker 3: studio that I was going to as well, which is
Speaker 3: owned by a woman of color in my area in
Speaker 3: the suburbs, which is very uncommon. And I love D
Speaker 3: and everyone loves D and her. She's created this beautiful
Speaker 3: business for women, by women, for women who were really underserved,
Speaker 3: you know, going through not just prenatal pregnancy complications, but
Speaker 3: like postnatal life. And so I donated to her GoFundMe
Speaker 3: and you know, it's small things like that, but maybe
Speaker 3: there's a way that you could find, you know, to
Speaker 3: support someone in a small way, and except that we
Speaker 3: can't fix everybody.
Speaker 2: Yeah, I feel like one of the best ways.
Speaker 1: Like I've always donated about ten percent of my income,
Speaker 1: but this time I've just been donating more time. I
Speaker 1: don't think I've ever taught more financial education than I
Speaker 1: have now. So, like, I go live at least a
Speaker 1: few times a week just to teach free classes.
Speaker 2: Like y'all know, I have my online.
Speaker 1: School, but I'm like, uh, that's cute, but people need access,
Speaker 1: like free, tangible, real access.
Speaker 2: So we did two free financial series.
Speaker 1: It was like four classes for the first set, four
Speaker 1: classes for the second set of other financial experts who
Speaker 1: were amazing and other experts as well, So we're actually gonna.
Speaker 2: Be I'm gonna be. I put them all together.
Speaker 1: And because people were having trouble finding them because we
Speaker 1: did them on Facebook Live, so I said, I asked
Speaker 1: my team put them all together, put them on one site,
Speaker 1: so that way we could tell people go to budgetista
Speaker 1: blah blah dot com, and that way you can have
Speaker 1: access and watch these videos while you're home. So that's
Speaker 1: gonna be rolling out soon. It's totally free. I feel
Speaker 1: like the thing that always makes me feel better when
Speaker 1: I'm feeling overwhelmed is to be of service. And the
Speaker 1: way that I like to be of service is through teaching,
Speaker 1: because I'm like, if I can know something, I can
Speaker 1: share something, and I know that if I can show
Speaker 1: you a different way or something new or something helpful,
Speaker 1: that you'll show somebody else and then there's a ripple
Speaker 1: effect there.
Speaker 2: Yeah.
Speaker 3: Absolutely, And if finances aren't your strong suit, maybe just
Speaker 3: offering to buy groceries for your neighbor next door, or
Speaker 3: dropping off a gift card to a neighbor you know
Speaker 3: who's lost their job. I know our neighbors they worked
Speaker 3: in the restaurant industry and they're proud, so we just
Speaker 3: dropped them off a gift card. And you know, and
Speaker 3: on Easter, I just bought a couple of little plants,
Speaker 3: like some Kali lilies and gave them to our immediate neighbors.
Speaker 3: And just little acts of kindness. It just makes me
Speaker 3: feel like, Okay, I've done a little something. If you
Speaker 3: can sew, which I can't, sorry to my grandmother who
Speaker 3: spent lots of time teaching me, and I forgot how.
Speaker 3: But if you can sew masks. You can sew them
Speaker 3: and donate them. There's things that you guys can do.
Speaker 3: I did want to just to go back really quick
Speaker 3: to the credit limit decrease question, the immediate impact. So
Speaker 3: I just wanted to think about the questions people might have,
Speaker 3: is well, who is most likely to get their credit
Speaker 3: card limit decreased? Actually, if you don't use your card
Speaker 3: quite often, if you have an older card that you
Speaker 3: haven't used in a while. Our credit expert at lending
Speaker 3: Tree says, those are the cards that issuers are probably
Speaker 3: going to slash first. Which may not seem like a
Speaker 3: big deal, but we talk a lot about credit utilization
Speaker 3: and what a huge component of your credit score that is.
Speaker 3: In fact, it's right up there with making on time payments.
Speaker 3: And what happens when your credit limit decreases is that
Speaker 3: your utilization rate, which is how much credit you use
Speaker 3: versus how much credit you have access to, can increase.
Speaker 3: So let's say you've got ten thousand dollars of available
Speaker 3: credit across three cards, and your credit issuer takes one
Speaker 3: of the cards and decreases it, and now all of
Speaker 3: a sudden, you only have five thousand dollars worth of
Speaker 3: available credit and you carry twenty five hundred dollars across
Speaker 3: those two cards. Now your utilization rate is fifty percent,
Speaker 3: whereas before it might have been like twenty five percent,
Speaker 3: and that can really hurt your credit. So if this
Speaker 3: happens to you, you can try calling your issuer and
Speaker 3: asking them to reconsider. You can ask another issuer for
Speaker 3: the credit credit cards that you still have open if
Speaker 3: they can bump your cards up. Now that's going to
Speaker 3: be a small hit to your credit and because it'll
Speaker 3: be a hard inquiry, but it's something. Or you can
Speaker 3: try to get another card to try and increase your
Speaker 3: available credit. That's really all that there is that you
Speaker 3: can do. So it's unfortunate that it's happening, But definitely
Speaker 3: if you guys, if you guys are experiencing this, we'd
Speaker 3: love to hear from you. Send us an email at
Speaker 3: Brandabission podcast at gmail dot com, or you can shoot
Speaker 3: me a note in Instagram, because I'm curious if people
Speaker 3: are being notified and how they're being notified, because there's
Speaker 3: not really any there's nothing that makes banks need to
Speaker 3: give you a heads up. They can just kind of
Speaker 3: do it.
Speaker 1: Yeah, that's the worst I remember during the last recession
Speaker 1: when I was late on my people don't realize if
Speaker 1: you can. If you're late on one thing financially, it
Speaker 1: can affect all of your things. I was laid on
Speaker 1: my mortgage and then Bank of America, the card I
Speaker 1: had at the time, my credit limit, they slashed it
Speaker 1: in half. And basically when I asked them, they were like,
Speaker 1: you were laid on your mortgage and I was like, yeah,
Speaker 1: but my mortgage is with Chase.
Speaker 2: You guys are Banking of America.
Speaker 1: And they're like potato Potata, So know that too. That
Speaker 1: it's you know, you could be late with one financial
Speaker 1: institution and it can affect your relationship with another.
Speaker 3: Yeah, one hundred percent. And this isn't just going to
Speaker 3: be credit cards. I mean, I'd be interested if people,
Speaker 3: if you're out there trying to get a mortgage, your
Speaker 3: first time home buyer. Banks are going to be tightening
Speaker 3: their credit requirements in a lot of different areas and
Speaker 3: it could make it more difficult to get things like
Speaker 3: a mortgage or an auto loan. Credit card, and they
Speaker 3: just maybe making it a little bit more difficult in
Speaker 3: terms of what they require, income limits, credit limits, things
Speaker 3: like that. So if y'all are experiencing any of that,
Speaker 3: definitely reach out to us, interested to hear, and maybe
Speaker 3: we should take a quick break. And speaking of people
Speaker 3: reaching out to us, answer some questions, questions, let me
Speaker 3: get back, so be right back, y'all.
Speaker 2: We're back. It's time for a question.
Speaker 1: Sorry too, sorry to our editor, and I was just like,
Speaker 1: you know what, what questions?
Speaker 2: We apologize to the people.
Speaker 3: Let's take a question that's maybe not so COVID related.
Speaker 3: This one comes from Instagram wants to remain anonymous. She says,
Speaker 3: I'd love some advice about my husband. He's about to
Speaker 3: start a nursing program that will cost about thirty thousand
Speaker 3: dollars for tuition and books. We have about sixteen thousand
Speaker 3: dollars in savings and plan to use ten thousand dollars
Speaker 3: of that to pay for his first semester. After that,
Speaker 3: we're going to take out a loan. He'll be in
Speaker 3: school full time, so I'll be the only one working.
Speaker 3: My question is, how do you recommend we allocate our money.
Speaker 3: Should we just focus all our efforts on saving to
Speaker 3: pay off the loan? Is there any way we can
Speaker 3: invest a portion of it to start building our wealth,
Speaker 3: and if so, would that be a smart decision? So
Speaker 3: she is going to be supporting them financially while he
Speaker 3: goes to nursing school, and they've got sixteen thousand in savings.
Speaker 3: They're going to take ten thousand of that to get
Speaker 3: ahead and pay for his first semester, leaving them with
Speaker 3: six thousand dollars in saving. And she wants to know
Speaker 3: should she folks on saving from her income so that
Speaker 3: they can pay up the loan later or is there
Speaker 3: any way that they can invest it to start building
Speaker 3: wealth so that they can tackle it later after he graduates.
Speaker 2: Well, so just super clear.
Speaker 1: So they're going to get they have some money saved,
Speaker 1: but they're going to be getting this loan, but they
Speaker 1: are going to get more than what school costs.
Speaker 3: She basically they're going to get a loan, but the
Speaker 3: first semester they want to take ten thousand dollars out
Speaker 3: of their savings to pay for it so they don't
Speaker 3: have to take a loan. Okay, Yeah, So for me,
Speaker 3: what's sticking out is they have sixteen thousand dollars in
Speaker 3: savings and they're going to take more than.
Speaker 2: Half of it to put towards school. To put towards.
Speaker 3: School right now. I don't know how you would feel
Speaker 3: about that, but my sense is if he has access
Speaker 3: to federal student loans, which can typically come at a
Speaker 3: pretty low interest rate, and you can get income based
Speaker 3: repayment later, I honestly would say, don't dip into your
Speaker 3: savings that much, especially now, especially now with one income,
Speaker 3: Like what happens if you lose your job. I don't
Speaker 3: know if you guys live together. I'm going to assume
Speaker 3: so because your husband, do you live together? I forgot, Yeah,
Speaker 3: I would really rethink depleting your savings to that extent.
Speaker 3: You want to have some money in the bank, and
Speaker 3: in thirty thousand dollars, let's say he needs that much
Speaker 3: out of a student loan. That's about average for what
Speaker 3: folks take out for student loans, and you can, definitely,
Speaker 3: if it's a federal loan, have access to some flexible
Speaker 3: repayment options in the future, which will be definitely helpful
Speaker 3: for you. And I wouldn't want to see you guys,
Speaker 3: you know, deplete your savings and then end up needing
Speaker 3: to breck up credit card debt when you don't have
Speaker 3: the same forgivable options.
Speaker 1: I was gonna say, too, you plus two, especially during
Speaker 1: times like now entering into what's looking like will be
Speaker 1: a recession, you want to have, you know, like about
Speaker 1: six months of essential expenses saved, because what you don't
Speaker 1: want to do, like to Mandy's point, is to have
Speaker 1: to rely on credit cards should something happen, especially since
Speaker 1: you're moving to a one income household. Depleting savings is
Speaker 1: hardly ever a really good idea, but it's even worse
Speaker 1: when an economic downturn is predicted because then you just
Speaker 1: don't know where you're going to stand from now, and
Speaker 1: your savings is kind of like you get to hedge
Speaker 1: against the bed, Like, Okay, if we were to lose
Speaker 1: my income we have I don't know, let's just say
Speaker 1: your life costs you four thousand dollars a month. We
Speaker 1: have two months worth of expenses, so we can figure
Speaker 1: out what to do in those two months. So yeah,
Speaker 1: I wouldn't want you to spend that all, especially if
Speaker 1: you can't get federal student loans. And even if you
Speaker 1: can't get federal student loans, depleting your savings during the
Speaker 1: beginning of a potential recession is a note for me.
Speaker 3: Dog Yeah, and I mean the career that he's chosen nursing.
Speaker 3: That's also one of the professions where he could potentially
Speaker 3: if you live in a state where they have certain programs,
Speaker 3: he could potentially qualify for loan forgiveness if he works
Speaker 3: in a low income area or an underserved area. And
Speaker 3: as far as job security goes, I mean the healthcare professionals,
Speaker 3: that's a smart I would say it's use of tuition, Yes,
Speaker 3: especially nurses smart use of tuition dollars. I don't see
Speaker 3: why he wouldn't be able to qualify for federal student loans.
Speaker 3: I would definitely say do that first, Do not deplete
Speaker 3: your savings. As far as the question tif of whether
Speaker 3: she should invest for the potential to grow some of
Speaker 3: their savings so they can pay the loans off later,
Speaker 3: I would also say, no, that's probably I mean, how
Speaker 3: long is nursing school?
Speaker 2: A few years?
Speaker 3: That to me is not a long enough time horizon
Speaker 3: for you to want to risk your savings in the market,
Speaker 3: especially with all the uncertainty we're dealing with right now
Speaker 3: with where we're at. Yeah, I don't know if if
Speaker 3: you have a different opinion.
Speaker 1: No, no, no, I agree. I feel like we said
Speaker 1: this before during an early episode. Now is really the
Speaker 1: time to hunker down if there's nothing else you could
Speaker 1: think of, hunker down, hunker down, hunker down meaning that
Speaker 1: preserve your cash, live frugally, don't freeze your life. I'm
Speaker 1: glad he's going to school. Well, I think that's great,
Speaker 1: but you're not here to freeze your life. But you're
Speaker 1: definitely here to try to create as much security as
Speaker 1: you can financially for yourself.
Speaker 2: So we can see our way through this time.
Speaker 3: And thank you for your question. Yeah, hopefully that was helpful.
Speaker 3: And this question came recently, so hopefully we got you
Speaker 3: in time.
Speaker 2: Yes, don't don't, don't do it.
Speaker 3: Okay, let's take another question from the gram. This one
Speaker 3: is interesting. It's about online savings, which you guys know
Speaker 3: we talk about are some of our favorite online savings
Speaker 3: accounts because they typically have higher rates. Not typically they
Speaker 3: almost always have higher rates than traditional banks do. But
Speaker 3: like a lot with the with the FED slashing interest rates,
Speaker 3: savings accounts, you may have noticed even the online ones
Speaker 3: you have pretty high rates have been decreasing. So this
Speaker 3: question is from we see does she want to be anonymous?
Speaker 3: Doesn't say, but I also don't know her name, so
Speaker 3: we'll just say her name is Patricia. Patricia says, I
Speaker 3: want to use a bank for on line savings. I
Speaker 3: see that of April tenth, American Express their savings right
Speaker 3: went down to one point six percent, while Ally has
Speaker 3: gone down to one point five percent, and Marcus by
Speaker 3: Goldman Secks is at one point five to five percent.
Speaker 3: Any cons you could think of for opening an online
Speaker 3: savings account right now? As rates are going down.
Speaker 2: I'm going down.
Speaker 1: So here is what could potentially happen for the first
Speaker 1: time in history. Although we pray not that we could
Speaker 1: actually reach a point of negative interest where you actually
Speaker 1: have to pay a bank to hold your money the
Speaker 1: way you do with the checking account.
Speaker 2: We hope that doesn't happen.
Speaker 1: That would be the only time that I think opening
Speaker 1: up an online savings account would not be a great
Speaker 1: idea until now.
Speaker 2: I mean, here's the thing.
Speaker 1: Although online savings accounts are not giving great interest right now,
Speaker 1: it's still better than a brick and mortar savings.
Speaker 3: It's still a lot better, a lot a lot better.
Speaker 1: Because they're giving you a piece of piece of a
Speaker 1: piece of a piece of a piece of piece of penny,
Speaker 1: and at least like ALLY is giving you a penny
Speaker 1: in a half. So right now, there's no cons for me.
Speaker 1: The two biggest pros are one, you're still going to
Speaker 1: earn more money than if you kept your money with
Speaker 1: like a Wells Fargo or TD TD Bank or Bank
Speaker 1: of America. And the second pro is that it makes
Speaker 1: your money inconvenient. I don't believe in having a checking
Speaker 1: account at an online state, at an online only bank.
Speaker 1: I keep my checking at my big bank for ease
Speaker 1: of use, you know, because they're the big banks are everywhere.
Speaker 2: And then I keep my savings at my online only.
Speaker 1: Bank, and if I want to transfer savings to checking,
Speaker 1: there's about a twenty four hours sometimes up to seventy
Speaker 1: two hour rate, which forces me to not be impulsive
Speaker 1: when it comes to spending my savings. It forces me
Speaker 1: to plan and prioritize my savings spending. So I like
Speaker 1: the inconvenience of an online only savings account, and you
Speaker 1: still earn more interest. So right now it's pro pro.
Speaker 1: But keep an eye on what's happening now. Twenty twenty
Speaker 1: has been a year of history, like us, like making
Speaker 1: history financially about different things that have never been done before.
Speaker 1: So yeah, negative interest rates are a possibility, you know,
Speaker 1: their possibility of being charged a fee for your savings accounts.
Speaker 1: So just keep an eye out for that. That would
Speaker 1: be the only time that I'd be like Nasis, I'm good.
Speaker 3: I know, but a lot of people are already paying
Speaker 3: those fees, you know, paying banks to hold their money,
Speaker 3: and I would just say, it hasn't happened yet. And
Speaker 3: the hugest pro for whether it's an online bank or
Speaker 3: traditional bank. And I'm speaking to my dad in particular,
Speaker 3: who continues to save money rolled up in socks throughout
Speaker 3: his house and in his mattress and all the places
Speaker 3: it's not protected. At least you still have FDIC insurance
Speaker 3: for your funding. And in fact, with the Cares Act,
Speaker 3: that stimulus package that Congress passed, they have unlimited FDIC
Speaker 3: coverage now. So I mean, I don't know, I don't
Speaker 3: have two hundred and fifty grand lying in cash somewhere.
Speaker 2: I wish I did. That would be nice.
Speaker 3: But but your money is protected in a bank, and
Speaker 3: you know you're earning a little bit of something something
Speaker 3: right now. But that's really the benefit of putting your
Speaker 3: money with an FDIC insured or NCUA insured. If you
Speaker 3: have a credit basically the same thing. Your money is
Speaker 3: protected and it's protected against loss, unlike the money in
Speaker 3: your four to one K, which is you know, going
Speaker 3: all over the place right now, if you're like me
Speaker 3: with what's going on right now.
Speaker 2: So it's nice to earn a little bit of money
Speaker 2: on your savings.
Speaker 3: That's cool, But I think the real, the real pro
Speaker 3: of saving, whether an online or with a regular bank,
Speaker 3: as long as our FDIC ensured is that your money
Speaker 3: is you know, guaranteed by the government to be there
Speaker 3: if all hell breaks loose. And the one thing I'll
Speaker 3: say is if you have a lot in savings and
Speaker 3: you're you have a lot of cash in savings, and
Speaker 3: you've got your six months savings or however much you
Speaker 3: feel comfortable having for emergencies, and then.
Speaker 2: You have cash on top of that, you could look
Speaker 2: to CDs.
Speaker 3: Now, CD rates, just like savings accounts, rates will be
Speaker 3: going down because the FED has continued to slash rates.
Speaker 3: But that being said, they can offer higher potential savings
Speaker 3: rate than your regular savings account. So if you want
Speaker 3: to lock in a higher rate and you have that
Speaker 3: extra cash, you could look to a CD. They're also
Speaker 3: FDIC insured, so your money is protected, and they could
Speaker 3: have a higher rate. The only downside with the CD
Speaker 3: is that you have to lock it in for a certain.
Speaker 2: Amount of time.
Speaker 3: The longer you agree to lock it in, the higher
Speaker 3: the rate will be. So five years whatever. But you
Speaker 3: can get them three months, six months, one year, up
Speaker 3: to five years, seven years, I think maybe even more.
Speaker 3: And if you were to like cash out that CD
Speaker 3: before that term expires or until that term is completed,
Speaker 3: then you'd have to pay an early withdrawal penalty, which
Speaker 3: of course just not just not key, thank you, And
Speaker 3: then it's just like defeats a purpose in the first.
Speaker 2: Place, exactly because you're gonna lose.
Speaker 1: But I'll say this about because I did a CD
Speaker 1: for like the kids in my family. I did it
Speaker 1: last year, and it came to maturity in April. I
Speaker 1: did it with ALLY, and I guess I must have
Speaker 1: signed up inadvertently for an automatic rollover to like a
Speaker 1: CD again. And I just happened to remember in the
Speaker 1: back of my head, like, oh, April my CD, And
Speaker 1: so I logged into ALLY and there was like a
Speaker 1: notice there. There was like, hey, girl, you got about
Speaker 1: ten days that if you don't withdraw your money from
Speaker 1: the CD.
Speaker 2: It's locked in. I'm like, I get it, get it
Speaker 2: lie right? Can you imagine I was pissed. I was like,
Speaker 2: I didn't get an email. Maybe they did send an email.
Speaker 2: I didn't see it.
Speaker 1: But so just be mindful that if you are going
Speaker 1: to get a CD, which you know might be the
Speaker 1: tool that your you know, vehicle that you might want
Speaker 1: to use, that that one.
Speaker 2: You know that you're not.
Speaker 1: Signing up for automatic rollover or maybe you are, maybe
Speaker 1: you want to, but put like a little reminder on
Speaker 1: your on your phone, like two weeks ahead of time,
Speaker 1: so that way you know to go check on your
Speaker 1: CD and pull it out and withdraw it if you
Speaker 1: want to.
Speaker 3: Definitely a pro tip. I did the same thing when
Speaker 3: I had my The most I've ever felt comfortable doing
Speaker 3: was a one year CD.
Speaker 2: Yeah me too. Yeah.
Speaker 3: But those three banks that she mentioned, ally Goldman Sachs
Speaker 3: or sorry ally Marcus By Goldman Sachs.
Speaker 2: I closed my app. What was the other one that
Speaker 2: she mentioned? It was Oh, I know it too, It's
Speaker 2: at the top of got it.
Speaker 3: Yeah, So those three of the bigger online banks that
Speaker 3: are out there. I'll post a link again to Magnify
Speaker 3: Money where you can compare savings accounts, and if you
Speaker 3: guys are looking for a safe place to stash your cash,
Speaker 3: please opt for an fd I, C or NCU, a
Speaker 3: insured bank account and not the socks in your closet. Yes,
Speaker 3: Alton Woodriff, can you hear me, Daddy, it's a problem.
Speaker 3: He literally was, like I asked, because you know, my
Speaker 3: dad lost his job. He's been out of work for
Speaker 3: a few weeks now, and my brother and I have
Speaker 3: been helping him. But I was like, Dad, do you
Speaker 3: need anything? It got groceries? Like man, He's like, yeah,
Speaker 3: I got I got a I got a jug full
Speaker 3: of quarters. I can cash it anytime I want to.
Speaker 3: Legitimately he has. He's that man with the water jug
Speaker 3: full of cords.
Speaker 2: That's right.
Speaker 3: Pause, I know, bless his heart. All right, Well, thank
Speaker 3: you guys so much for your questions. One more time.
Speaker 3: Send him to Brand Ambission Podcast at gmail dot com,
Speaker 3: beca or hit us up on the gram Brand Ambisson
Speaker 3: Podcast on Instagram.
Speaker 2: That I am. And now it's time for boost or
Speaker 2: break or boost or break break. Oh sorry, Kelly Boo break.
Speaker 3: CALLI our editor to the people know what we're talking about.
Speaker 2: So Cally is our editor.
Speaker 1: I'm trying to keep my laugh out because Kelly said
Speaker 1: my laugh brings us into the red. Yeah, she's trying
Speaker 1: to call. She and Mandy are trying to quell my joy.
Speaker 1: So I'm trying to sit a little further away from
Speaker 1: the bike because apparently I'm loud.
Speaker 2: Who knew?
Speaker 3: I mean, listen, especially compared to me, like when I
Speaker 3: was editing our audio, it would be I would have
Speaker 3: no problem being able to tell when I was talking
Speaker 3: when Tiffany was talking.
Speaker 2: Let me try not to lie. Mandy's not making you laugh.
Speaker 3: Listen. You are who you are and we love you.
Speaker 2: We love you for it. So are you gonna boost?
Speaker 2: Are you gonna ray? I'm gonna go first this time.
Speaker 3: Okay, I'm you always control the boost and break up.
Speaker 2: I'm gonna boost.
Speaker 1: Actually, I'm gonna boost these local banks because Wells Fargo,
Speaker 1: You naughty, naughty boy. Do you see Wells Fargo's being
Speaker 1: sued surprise surprise, apparently how they mishandled the PPP funds,
Speaker 1: the Paycheck Protection Fund.
Speaker 3: Yes, they're quick with the lawsuit, quick quick, real quick.
Speaker 2: Just happened.
Speaker 1: But you know what I'm because I have my business
Speaker 1: accounts at Wells Fargo and honestly.
Speaker 2: Good for them.
Speaker 1: Sorry, I'm sure they'll never throw any money my way.
Speaker 1: Don't care, because literally, they secretly opened your ability to
Speaker 1: apply for the PPP on like a Sunday afternoon Manday,
Speaker 1: and by Sunday evening, oh we're not taking any more people.
Speaker 1: I'm like, wait, you guys were open. So it was
Speaker 1: the way they handle it was terrible the moment that
Speaker 1: I'd heard about it. My friend don Tcio, she lives
Speaker 1: in Florida. She went to her local bank, and her
Speaker 1: local bank had her fill out an application, and they said,
Speaker 1: we don't have any of the money or anything yet,
Speaker 1: but we'll have you primed.
Speaker 2: And ready to go.
Speaker 1: So when the money does come in, we've already vetted
Speaker 1: you and your application is done.
Speaker 2: We could just connect you with the money. That's what
Speaker 2: happened to her.
Speaker 1: My other friend, who lives in Philly, same thing, local
Speaker 1: bank filled out that application. Money's already been deposited into
Speaker 1: her account. Meanwhile, I'm here with the biggest bank in
Speaker 1: Dagon country and I can't get my business banker on
Speaker 1: the phone. I can't get anyone to answer the phone,
Speaker 1: I can't get an email back. I couldn't even apply.
Speaker 1: I'm like, why am I with this bank again?
Speaker 2: Not for long?
Speaker 1: Because my CFO and I we were all talking about it.
Speaker 1: They are if they've already been a mess before, so me,
Speaker 1: this is supposed to be a boost forget them, the
Speaker 1: boost to the smaller banks. So we actually started looking
Speaker 1: at smaller local banks. We found one that we really
Speaker 1: like and I opened up like a business bank account
Speaker 1: with them. And when I did, they actually called me
Speaker 1: and said, hey, did you ever apply for the PPP loan?
Speaker 1: And I said no, because the bank I was with
Speaker 1: before they dropped the ball. And they were like, well,
Speaker 1: you know another round is likely coming. If you'd like
Speaker 1: to pre basically pre qualify, you could fill out an
Speaker 1: application now. And I'm like, wow, where have you been
Speaker 1: on my love? So shout out to local banks. You know,
Speaker 1: Like when I when I opened up my businesses, I thought, well,
Speaker 1: you know, common sense would say you should go with
Speaker 1: the big bank so they could take care of you
Speaker 1: and they can handle your business. Honestly, I'm not so
Speaker 1: sure anymore. I'm we have broad ambition, we have I
Speaker 1: have TJMS, my marketing.
Speaker 3: You stumped me into the Wells Fargo and I didn't
Speaker 3: want to. I know, my bad girl, my bad girl,
Speaker 3: my online everything, all the.
Speaker 2: Things you are. Well, we leave, and we leave it
Speaker 2: still dirty.
Speaker 1: I have a marketing company, I've got the budget Nissa,
Speaker 1: and I also have my uh literature academies.
Speaker 2: So all four of those companies are with Wells Fargo.
Speaker 2: But we're leaving. We are leaving.
Speaker 1: I'm packing my bags and we're leaving, and we're gonna
Speaker 1: go head over to my new, small, friendly bank where
Speaker 1: the vice president actually calls you and checks up on you,
Speaker 1: and you have access to the tools and resources you
Speaker 1: need to succeed. I suspect a lot of people are
Speaker 1: going to be leaving. Honestly, a lot of people left
Speaker 1: Wells Fargo after they were signing people up illegally for
Speaker 1: bank accounts, and the president and CEO and the people
Speaker 1: at the top were acting as if they had no
Speaker 1: idea when they know that was an underlying policy.
Speaker 2: So a lot of people left.
Speaker 1: Then I didn't leave them because I had so many
Speaker 1: bank accounts with them. I just didn't feel like the hassle.
Speaker 1: But it's actually more of a hassle to stay.
Speaker 3: That's a great and you know, in all seriousness that
Speaker 3: is exactly what's happening. A lot of big banks either
Speaker 3: they ran out of funding for this program really quickly
Speaker 3: or they just didn't want to play ball. And the
Speaker 3: real winners and the real heroes here have been the
Speaker 3: local bank. So if you're a small business owner and
Speaker 3: like Tiffany, you haven't gotten you haven't gotten through your
Speaker 3: big bank, you don't have to be you have to
Speaker 3: like join the bank. Like you can go to a
Speaker 3: bank that you don't bank with and ask them about
Speaker 3: the program and maybe it's about opening up a checking
Speaker 3: account or whatever to qualify. But those are the real
Speaker 3: heroes for small business owners right now.
Speaker 2: Yah postent and honestly, I have checked all the banks.
Speaker 1: Everyone is going to basically tell you that at some
Speaker 1: point you're going to have to open up a business
Speaker 1: bank account with them, which is fine.
Speaker 2: I have no problem doing that.
Speaker 3: So just know that, well that's where they're going to
Speaker 3: deposit your stimulus money. So is I you know you
Speaker 3: need he needs it. That was a good boost. Yeah,
Speaker 3: And you have to if you're going to are you
Speaker 3: gonna apply for the PPP program? We did already Girl
Speaker 3: check Protection program literally.
Speaker 1: Monday, I you know, I went because I was like,
Speaker 1: you know, we're looking for a new bank. Went opened
Speaker 1: up a bank account Monday, got a call from the
Speaker 1: vice president Monday, was like, hey, would you like to
Speaker 1: apply sure by Tuesday? We submitted our paperwork, signed, and
Speaker 1: now we're like preapproved within like twenty four hours.
Speaker 2: I was like what. Meanwhile, big ol' Wells Fargo.
Speaker 1: I have still not heard back from my personal banker
Speaker 1: quote unquote, I have not heard back from then. We've emailed,
Speaker 1: we've called, we haven't heard anything. It's been a nightmare.
Speaker 1: But so I'm like, oh, it's a wrap for Wellsey.
Speaker 2: It's a rap bye ye.
Speaker 3: And this just came out today that the Congress has
Speaker 3: passed a new bill that would approve more money for
Speaker 3: the paycheck Protection Program three hundred and ten three hundred
Speaker 3: and ten billion more dollars that they have created out
Speaker 3: of thin air. We won't talk about that.
Speaker 2: And also six.
Speaker 3: Yeah Rio, you know Rio and the babies. They're going
Speaker 3: to handle this when they get grown. And another bill
Speaker 3: that would increase the Emergency Disaster Loan program by sixty billion,
Speaker 3: so more money coming for small business owners. And now
Speaker 3: if you if you miss the first wave, definitely go
Speaker 3: to your local banks, your credit unions first and foremost
Speaker 3: to get access and tell us your stories. Are you
Speaker 3: guys getting the stimulus? If you're a small business owner, entrepreneur,
Speaker 3: are you getting are you having success getting access to
Speaker 3: funds that you're supposed to have access to? Hit us
Speaker 3: up Brand Ambission Podcast at gmail dot com. Okay, we
Speaker 3: really like to hear from you. Okay, is it my
Speaker 3: turn yet?
Speaker 1: It is?
Speaker 2: Thank you.
Speaker 3: So I want to do a brown a boost for
Speaker 3: virtual game Night, which my family and I I kind
Speaker 3: of proposed the idea of doing a virtual game night
Speaker 3: before I figured out how to do it, and then
Speaker 3: I was like sweating bullets trying to figure out how
Speaker 3: do you do a virtual game night. I ended up
Speaker 3: using an app called house Party, which is cute. It's
Speaker 3: it's kind of like whatever, or it's kind of like
Speaker 3: any other It's kind of like FaceTime, but you have
Speaker 3: the ability to play games and they have games built
Speaker 3: into the app.
Speaker 2: So I recommend it.
Speaker 3: It's really fun and it was a nice way to
Speaker 3: spend a couple hours with my fam on Friday and
Speaker 3: feel feel together.
Speaker 2: And I will do a quick brown.
Speaker 3: Break for an affliction that I have just found a
Speaker 3: name for so my wrist has been destroyed. Like I
Speaker 3: just kept joking that the baby destroyed my body, and
Speaker 3: one of the things that he destroyed was my arm.
Speaker 3: Just all the times you to lift them up, and
Speaker 3: all the rocking and all the nursing and all that,
Speaker 3: my risk just hasn't been the same. And ever since
Speaker 3: I've been working from home without my I left my
Speaker 3: big monitor and my keyboard and my nice standing desk
Speaker 3: at the office, which we can't get into. I think,
Speaker 3: like a lot of people, I've been locked out of
Speaker 3: the office because they want to keep it sanitized.
Speaker 2: For whenever we go back.
Speaker 3: Anyway, So my wrist is just giving me so many problems,
Speaker 3: and I'm wearing a brace now. This is actually an
Speaker 3: affliction called mommy's thumb, which I had never heard of
Speaker 3: before until someone told me. They're like, you have mommy's thumb.
Speaker 3: This is a legitimate, Like it's kind of like carpal tunnel,
Speaker 3: but specific to the part of your hand that you
Speaker 3: use for the baby. And I'm like, what is this
Speaker 3: child doing to me? And I found a gray hair today,
Speaker 3: you guys. Oh, so I have a bummers and a
Speaker 3: gray hair and it's it's real sad but on the
Speaker 3: plus side, baby is almost sleeping through the night now,
Speaker 3: like really, yes, yes, yes, And I don't want to
Speaker 3: get into a debate about whether or not you should
Speaker 3: let them cry, but it's.
Speaker 2: Been working for us.
Speaker 3: And I decided that he won't remember the tears that
Speaker 3: he shed, but I will remember the tears that I
Speaker 3: shed because I had many, many breakdowns from lack of sleep,
Speaker 3: and the fact that I'm getting more sleep is the
Speaker 3: reason we're surviving this whole situation at all. So I
Speaker 3: have to give a brown boost to my baby for
Speaker 3: figuring out how to sleep, because I love him and
Speaker 3: I'm so proud and thank God because now the fog
Speaker 3: is truly starting to lift, now that my sleep is improving.
Speaker 2: What did I just give you? Two boosts and a
Speaker 2: break I don't even care.
Speaker 1: I was a lot now that's good though, yes, because
Speaker 1: I don't even know, like when I guess every baby's different.
Speaker 1: Is there like a typical age when they start sleeping
Speaker 1: through the night.
Speaker 3: So here's the number one piece of advice for any
Speaker 3: mom out there, a new mom.
Speaker 2: Whatever.
Speaker 3: The reason I regained my sanity is because I stopped
Speaker 3: listening to all the googles all.
Speaker 2: The books, all the experts, all you know.
Speaker 3: I was trying to information my problems to death, problems
Speaker 3: that I perceived to have. And I just started listening
Speaker 3: to my child and she yes, and I just started
Speaker 3: to recognize he's the boss. He will tell me how
Speaker 3: many naps he needs, He'll tell me how much and
Speaker 3: how often he's going to eat. When I stopped caring,
Speaker 3: like I used to track how long his feeds were
Speaker 3: when they happened, and then if he slept a good stretch,
Speaker 3: I would try to recreate the day and I would
Speaker 3: stress out and drive myself crazy because I'd be like, oh, no,
Speaker 3: he ate at four twelve yesterday and it's four seventeen,
Speaker 3: and he's refusing, like he's a human and they're all
Speaker 3: different and genuinely genuine. It sounds so simple, but my
Speaker 3: mental health only started to make a turnaround when I
Speaker 3: stopped caring what expert said. Now, the one expert I
Speaker 3: listened to when my mom is a little upset by
Speaker 3: this is my doctor, our doctor, our pediatrician. So she's
Speaker 3: the one that I called and asked about advice around
Speaker 3: and sleep, and she and hers is the advice that
Speaker 3: I went by. And that's just what that's for my
Speaker 3: own mental health. I went on a little bit of
Speaker 3: a rant here, but it's it's absolutely the thing that
Speaker 3: I will credit for helping me get back to feeling
Speaker 3: like myself is just me and my kid. We're in
Speaker 3: a bubble. He tells me what he needs, I give
Speaker 3: it to him, and.
Speaker 2: That's what works for us. And I don't care.
Speaker 3: I don't care what so and so's baby did, or
Speaker 3: what the internet's baby did, or that book you know,
Speaker 3: and that expert on Instagram, like every baby is just different.
Speaker 3: And they they will figure it out man like they
Speaker 3: used to figure it out without Google, like they yeah,
Speaker 3: it's it's a miracle. They it's watching him figure things
Speaker 3: out like how to sleep, how to you know, even
Speaker 3: just how to reach for me or just ask for
Speaker 3: what he needs, like they tell you if you just
Speaker 3: listen and stop trying to control them anyway.
Speaker 2: So I'm back. I feel like I'm back.
Speaker 3: I don't want to jinx myself, but the and honestly
Speaker 3: and all that the work I've done to just let
Speaker 3: go of what I can't control, which is my own child.
Speaker 3: I can't control him. I just need to let him be.
Speaker 3: He's a smart kid. And that is also the approach
Speaker 3: I'm taking for this pandemic. I can't control it. I'll
Speaker 3: let humankind. We'll figure this out. We've survived the plague
Speaker 3: and all kinds of stuff before. That's just that's what
Speaker 3: I'm saying, so I can sleep at night, y'all.
Speaker 1: Okay, well, you're sounding much schipper, And.
Speaker 2: A few choice prescriptions have also helped me.
Speaker 3: But also stopping googling was a real good was my
Speaker 3: was my self prescribement?
Speaker 2: Good? Good? All right, are you feeling better yet? I am.
Speaker 2: I honestly think it's allergies.
Speaker 1: I know, right, every time I coughs, people are like god,
Speaker 1: and I'm like, oh gosh, no. I mean, I don't
Speaker 1: have any of the other symptoms. And this is the
Speaker 1: time of year I cough anyway, because I have the
Speaker 1: running nose, you know, the watery eyes. It's I have,
Speaker 1: you know, like analogies this time of years.
Speaker 2: So season, it is what it is.
Speaker 1: I feel I do feel better emotionally about I mean,
Speaker 1: it's hard. Like I said, I'm an impath, so sometimes
Speaker 1: I just need, I need. I'll talk to someone like
Speaker 1: my sunshine folks. And because you are feeling upbeat, and
Speaker 1: made me feel upbeat because I'm soaking up your happy energy.
Speaker 1: And then if someone gets into my inbox and they're
Speaker 1: like crying, then I'm like, I'm sad with you, so.
Speaker 3: Beldhearted, like I am not a cord No, I do defineized,
Speaker 3: I do complementalize extremely well.
Speaker 2: I don't. I don't. I don't even know how.
Speaker 3: You got to put the people problems in the drawer
Speaker 3: in the back of your head and then okay, that's
Speaker 3: in that drawer.
Speaker 2: Now. My drawer is my own.
Speaker 3: Protect, special, protected place. It's a sacred place. You gotta
Speaker 3: be careful what you let it in your drawer, not
Speaker 3: your drawers.
Speaker 2: That's different. I'm not a lady no more. But you know,
Speaker 2: back in the day, that was some good advice.
Speaker 3: Oh, this analogy is getting away for me.
Speaker 2: Oh my goodness.
Speaker 3: Go hug your husband and say sorry for yelling at
Speaker 3: him for interrupting again.
Speaker 2: He's gonna be like, no, keep you a hug.
Speaker 3: On that note, have a good week, you guys, and
Speaker 3: we will see y'all next week.
Speaker 2: Until next time,