WEBVTT - Ep 213 - The Turmoil is Real! 0:00:16.000 --> 0:00:22.680 Hey, hey, hey, I've been in the house all day. 0:00:23.239 --> 0:00:28.040 But probably some of you welcome back, welcome black. 0:00:27.960 --> 0:00:31.600 To brown ambition. That's a good day. I haven't left that. 0:00:31.880 --> 0:00:34.559 I haven't actually left my house other than maybe to 0:00:34.600 --> 0:00:36.960 go to the backyard since Friday, I realized, which is 0:00:37.000 --> 0:00:39.840 not good for anybody, no one's mental health. 0:00:41.200 --> 0:00:44.360 It's like, honestly, I honestly, I really in like the 0:00:44.479 --> 0:00:46.600 what's been like six weeks now since we've been home. 0:00:46.920 --> 0:00:49.040 I really have gone on out very very little. But 0:00:49.120 --> 0:00:52.040 yesterday I had to go to the pharmacy to get 0:00:52.080 --> 0:00:56.280 my my prenatal vitamins. And when I went, and then 0:00:56.320 --> 0:00:58.040 because my sister also told me that pull ups are 0:00:58.080 --> 0:00:59.800 like sold out everywhere, and I happened to see some, 0:01:00.000 --> 0:01:02.600 I was like, oh, but it was so weird to 0:01:02.760 --> 0:01:06.920 be there because it won they were only letting I mean, 0:01:07.040 --> 0:01:10.240 Walgreens is a big pharmacy, and they were only letting 0:01:10.240 --> 0:01:12.120 in less than ten people in at a time, and 0:01:12.160 --> 0:01:14.319 you had to have a mask on, So it was weird, 0:01:14.360 --> 0:01:17.320 like kind of like standing outside to wait six feet apart. 0:01:17.360 --> 0:01:20.399 It just it was like this dystopian society, you know, 0:01:20.400 --> 0:01:21.200 it's the new normal. 0:01:21.680 --> 0:01:24.520 Yeah, it is actually husby went to CVS to get 0:01:24.520 --> 0:01:26.600 something for me yesterday and he said the same thing 0:01:26.600 --> 0:01:28.640 he had, Everyone had to wear masks. Shout out to 0:01:29.240 --> 0:01:31.400 all the people out there making masks and sending them 0:01:31.440 --> 0:01:35.000 and donating them. My aunt Ann in Wisconsin, Hey Anne, 0:01:35.000 --> 0:01:37.000 who does not listen to the show or probably know 0:01:37.040 --> 0:01:41.000 what a podcast is. She sent us two hands own masks. 0:01:41.000 --> 0:01:43.600 And then my dad had a couple of and whatever 0:01:43.680 --> 0:01:48.120 masks that he fedexed over here. My dad also offered 0:01:48.160 --> 0:01:51.400 to FedEx me overnight kale. I was just complaining about whatever. 0:01:51.480 --> 0:01:52.760 You know, I'm not trying to say this is a 0:01:52.760 --> 0:01:55.640 real problem, but I couldn't find kale anywhere because all 0:01:55.680 --> 0:01:58.480 the suburban people where I live were just eating up 0:01:58.520 --> 0:02:00.920 all the kale. And he went to Walt and he 0:02:01.080 --> 0:02:04.120 legitimately was going to overnight ship me kale. 0:02:04.240 --> 0:02:05.160 This man has. 0:02:05.040 --> 0:02:08.120 Overnight shipped me food before, like he will overnight ship 0:02:08.120 --> 0:02:10.919 me thanks giving me leftovers. That's just what my dad does. 0:02:11.000 --> 0:02:11.880 He's that kind of person. 0:02:11.960 --> 0:02:12.720 Oh I love it. 0:02:12.880 --> 0:02:14.399 I was like, no, Daddy, I don't need the kale 0:02:14.440 --> 0:02:17.040 that bad, but love you. He sent me some masks too, 0:02:17.080 --> 0:02:19.680 which was which was sweet. Yeah, I think like a 0:02:19.680 --> 0:02:22.440 lot of people. We listened to the advice, which was 0:02:22.520 --> 0:02:25.040 leave the masks for the healthcare workers and don't buy any. 0:02:25.120 --> 0:02:28.480 And then now it's mandatory to in New York to 0:02:28.560 --> 0:02:30.919 wear them when you can't stay six feet apart. 0:02:30.960 --> 0:02:32.919 And we're like, oh no, we don't have any. 0:02:33.120 --> 0:02:35.520 So glad that my aunt and my dad, well, my 0:02:35.560 --> 0:02:36.240 aunt helped out. 0:02:36.560 --> 0:02:39.119 It's just crazy out here in these streets. In these streets, 0:02:39.160 --> 0:02:43.440 it's just I don't know's there's highs, there's lows, there's 0:02:43.480 --> 0:02:46.440 low lows. You know, you hear about your friends online. 0:02:46.440 --> 0:02:48.160 Some of my friends have already lost like four or 0:02:48.160 --> 0:02:51.680 five people, and I'm just like, oh my gosh, it's 0:02:52.240 --> 0:02:52.840 just a lot. 0:02:53.160 --> 0:02:56.480 It's too much. And you just don't I don't see. 0:02:57.040 --> 0:03:01.520 Like when it comes to financial things, even though when 0:03:01.520 --> 0:03:03.960 it seems like it's overwhelming, kind of in the back 0:03:04.000 --> 0:03:06.680 of your mind, you know that there's a solution or 0:03:06.960 --> 0:03:09.120 there's a way out. But when it comes to health, 0:03:09.280 --> 0:03:11.480 it's you feel so helpless, you know. 0:03:12.440 --> 0:03:14.840 Yeah, I mean, in the one sense, I do know 0:03:14.880 --> 0:03:16.840 that there are smart scientists out there and we have 0:03:17.680 --> 0:03:19.600 we have the capability to find a vaccine. It's just 0:03:19.680 --> 0:03:21.840 not going to be for a long time, and so 0:03:21.919 --> 0:03:24.480 it's like it's it's trying to let go of the 0:03:24.520 --> 0:03:27.360 sense of control we have over the vaccine, which we 0:03:27.440 --> 0:03:30.360 have none. We can just trust that, you know, I 0:03:30.400 --> 0:03:34.280 just trust in our scientists, and I hope that our 0:03:34.600 --> 0:03:37.160 leadership get that out of their way and lets them 0:03:37.200 --> 0:03:41.800 do their job, and you know, everyone continues to stay safe, 0:03:41.880 --> 0:03:44.760 stay home in the meantime. Yeah, it definitely feels like 0:03:44.840 --> 0:03:46.840 this is a new normal for a while, but we 0:03:46.880 --> 0:03:50.680 need to sort of make peace with that. The other 0:03:50.760 --> 0:03:52.560 side of it is, of course, we talk about a 0:03:52.560 --> 0:03:55.040 lot is the financial side. And I heard a lot 0:03:55.040 --> 0:03:57.640 of people got their stimulus checks this past week. If 0:03:57.640 --> 0:03:59.640 you filed your taxes in the past and you got 0:03:59.800 --> 0:04:03.040 your or tax refund deposited directly into your bank account, 0:04:03.160 --> 0:04:07.800 you should have gotten your stimulus check or stimulus sorry, 0:04:07.800 --> 0:04:11.120 economic impact payment, it's what they're calling it by now, 0:04:11.240 --> 0:04:14.880 and hopefully it helps a little bit. I got a 0:04:14.920 --> 0:04:16.479 note from one of our listeners who said that she 0:04:16.520 --> 0:04:18.040 was going to use it for a card down payment. 0:04:18.360 --> 0:04:21.680 You know, do what you gotta do, Okay, do what 0:04:21.760 --> 0:04:25.440 you're going do. It's okay, it's no adjustment. 0:04:25.760 --> 0:04:27.480 Maybe you need that car to go to work and 0:04:27.520 --> 0:04:30.719 that's fine, but yeah, I mean hopefully that helps people. 0:04:30.800 --> 0:04:32.600 I know a lot of folks I work with work 0:04:32.600 --> 0:04:35.640 excited when they got their checks. I keep saying checks, 0:04:35.640 --> 0:04:36.840 even though it was direct deposited. 0:04:37.480 --> 0:04:38.400 It's a little something. 0:04:38.600 --> 0:04:41.200 And we definitely went ahead and file their tax return 0:04:41.279 --> 0:04:42.839 just so because we were getting a refund and I 0:04:42.920 --> 0:04:45.719 was like, yeah, let's just get this done and dusted. 0:04:46.320 --> 0:04:50.160 I hope that folks are finding some sort of relief 0:04:50.200 --> 0:04:52.520 from that. I know it's not very much. Twelve hundred, 0:04:52.920 --> 0:04:55.679 what's the max? Twenty four hundred? You guys are listening 0:04:55.720 --> 0:04:57.560 to this show On Wednesday, I got an alert from 0:04:57.600 --> 0:05:02.599 IRS dot gov yesterday that if you're someone who is 0:05:02.640 --> 0:05:06.440 on Social Security benefits, you may not have gotten as 0:05:06.520 --> 0:05:08.160 much as you should have if you have a dependent 0:05:08.520 --> 0:05:12.320 at home, and they're giving everyone until the twenty second 0:05:12.360 --> 0:05:15.360 of April, which is tomorrow, to go to IRS dot 0:05:15.400 --> 0:05:17.440 gov and update their filing so that they can get 0:05:17.480 --> 0:05:20.080 that extra five hundred dollars. So I'm gonna post a 0:05:20.120 --> 0:05:21.719 link in the show notes, and if you're listening to 0:05:21.760 --> 0:05:24.160 this and that's you, I don't know if anyone is, 0:05:24.240 --> 0:05:27.280 I'm going to post a link to that IRS notice, 0:05:27.279 --> 0:05:30.719 so that you guys can hopefully get all the coins 0:05:30.720 --> 0:05:32.600 that you should be getting right now. 0:05:32.680 --> 0:05:37.120 It's just so much to process. Sh Yeah, but that 0:05:37.240 --> 0:05:39.839 was super helpful. It's just like, ah, there's so many 0:05:39.839 --> 0:05:42.039 money questions. I mean, that's when I tell you the 0:05:42.160 --> 0:05:44.839 level of I mean, what I love about our listeners 0:05:44.880 --> 0:05:48.040 and Dreamcatchers is that they always have a ton of 0:05:48.040 --> 0:05:53.280 financial questions. But the thing, like my inbox has been kaboom. 0:05:53.400 --> 0:05:59.279 I'm like, uh, sis, I can't even keep up. Can 0:05:59.320 --> 0:06:00.000 you keep up? 0:06:00.279 --> 0:06:00.359 No? 0:06:00.520 --> 0:06:04.520 I cannot, so and we try our best, Like even 0:06:04.520 --> 0:06:06.720 in the Facebook group, like oh my god, what stimulus 0:06:06.720 --> 0:06:09.200 came out? We actually had to start banning. You know, 0:06:09.200 --> 0:06:11.200 we have a DreamCatcher Facebook group. It's like five hundred 0:06:11.240 --> 0:06:15.880 thousand mostly women. We actually had to ban stimulus talk 0:06:15.960 --> 0:06:18.920 for a while because every post was about stimulus, and 0:06:19.320 --> 0:06:22.920 quite honestly, some of the questions were questions that there 0:06:23.000 --> 0:06:25.080 was no answer for just yet, like well what if 0:06:25.560 --> 0:06:27.720 you know, what if I I changed my bank account 0:06:27.800 --> 0:06:30.080 some last time, and what if I moved from where 0:06:30.120 --> 0:06:33.200 the check is It's like, well, there was no there 0:06:33.240 --> 0:06:34.760 was no answer to those things at the time, so 0:06:34.800 --> 0:06:37.200 it just became just overwhelming and then I get it 0:06:37.200 --> 0:06:38.800 because people are like, what am I supposed to do? 0:06:38.839 --> 0:06:42.120 There's very little direction from the quote unquote. 0:06:41.680 --> 0:06:44.880 Top there's at least IRS dot gov, and they are 0:06:44.920 --> 0:06:46.720 trying to keep up with the questions. So I'm going 0:06:46.760 --> 0:06:48.560 to again post a link to the FAQ from the 0:06:48.560 --> 0:06:51.320 IRS dot gov because it has answers to those kinds 0:06:51.360 --> 0:06:53.560 of questions. And you know, we got I got an 0:06:53.600 --> 0:06:55.800 Instagram message from someone who sent me a link to 0:06:55.839 --> 0:06:58.640 IRS dot gov to their page about the Economic and 0:06:58.800 --> 0:07:02.600 Impact payments, and they asked, is this legitimate? And I'm like, yes, 0:07:03.920 --> 0:07:08.080 IRS talk of is in fact legitimate? If it's not, like, 0:07:08.400 --> 0:07:11.960 if we can't trust the IRS, what's what's going on? Yeah, 0:07:12.000 --> 0:07:15.679 So one of the you know we talked, obviously, millions 0:07:15.720 --> 0:07:18.960 and millions of people are filing for unemployment benefits right 0:07:18.960 --> 0:07:20.560 now trying to figure out what they're trying, you know, 0:07:20.600 --> 0:07:23.000 how they can bring an income if they've lost their jobs. 0:07:23.400 --> 0:07:25.800 Another what I was I kind of joked about this, 0:07:25.880 --> 0:07:28.679 but I had been seeing remember Susie Orman, she really 0:07:28.720 --> 0:07:31.240 had a huge wave that she rode like a lot 0:07:31.240 --> 0:07:34.560 of personal finance experts did after the two thousand and 0:07:34.600 --> 0:07:38.720 eight financial crisis and really people flock to her for advice, 0:07:38.800 --> 0:07:40.160 and then I don't know, I feel like I didn't hear 0:07:40.200 --> 0:07:42.160 from her in a long time. Well, Susie is back 0:07:42.160 --> 0:07:45.680 with a vengeance, and I started to see people sharing 0:07:45.720 --> 0:07:47.960 some advice that she was giving a couple of weeks ago. 0:07:48.400 --> 0:07:50.080 And one of the things that stuck out to me 0:07:50.160 --> 0:07:53.000 was Susie was like, you guys need to run up 0:07:53.040 --> 0:07:57.000 your credit cards now, don't yes run up your credit cards? 0:07:57.080 --> 0:08:00.000 Essentially because she said, if you have to choose between 0:08:00.200 --> 0:08:03.320 putting food on the table or paying your mortgage versus, 0:08:03.440 --> 0:08:06.440 you know, putting a bill on a credit card, uh, 0:08:06.680 --> 0:08:08.680 put that, put whatever on your credit cards, that you 0:08:08.760 --> 0:08:11.360 keep your liquid cash available for the essentials for food 0:08:11.400 --> 0:08:14.280 and such like that. And the reason she was saying 0:08:14.280 --> 0:08:18.600 it and I get it now, is because when these 0:08:18.640 --> 0:08:22.920 types of financial situations happen, when we have a downturn 0:08:22.960 --> 0:08:24.720 like we're having now. We saw this back in the 0:08:24.760 --> 0:08:28.000 O Wait crisis too, banks will literally start to hedge 0:08:28.000 --> 0:08:30.800 their own risks. They will say, oh, crap, in the 0:08:30.840 --> 0:08:33.320 past ten years, we've been giving people a lot of credit, 0:08:33.480 --> 0:08:36.040 and we're afraid that a lot of folks who're either 0:08:36.080 --> 0:08:38.520 losing their jobs or they're listening to people like Susie 0:08:38.600 --> 0:08:41.680 Orman and are going to start racking up their credit 0:08:41.679 --> 0:08:44.480 cards because you know, they fear that they won't have 0:08:44.559 --> 0:08:46.880 access to that credit or that they you know, need 0:08:46.880 --> 0:08:49.280 that extra capital because they've lost their job or whatnot. 0:08:49.679 --> 0:08:53.160 Banks are literally in some cases, we've heard from our 0:08:53.200 --> 0:08:57.280 audience that banks are starting to reduce credit limits and 0:08:57.320 --> 0:09:00.760 people I could see that, Yeah, they're they're just finding out, oh, 0:09:00.840 --> 0:09:03.240 my credit limit's been slashed. One person reached out to 0:09:03.720 --> 0:09:05.440 one of the credit experts on your team and said 0:09:05.440 --> 0:09:08.240 that they had been slashed from seventeen thousand dollars limit 0:09:08.280 --> 0:09:12.800 to a five hundred dollars limit. What. Yes, absolutely, and 0:09:13.040 --> 0:09:15.240 it's totally fine for banks to do this. And it's, 0:09:15.280 --> 0:09:18.040 like I said, they know that they have a lot 0:09:18.040 --> 0:09:21.200 of risk right now because like Susie Orman is recommending 0:09:21.240 --> 0:09:23.480 this thing. I mean, it sounds like bad. It sounds bad. 0:09:23.480 --> 0:09:25.480 It's everything that we usually say don't do, don't run 0:09:25.480 --> 0:09:28.280 with your credit cards. But Susie's point is that, well, 0:09:28.720 --> 0:09:30.520 you know, your mortgage is tied to your house. If 0:09:30.559 --> 0:09:32.600 you've default on your mortgage, you could lose your house, 0:09:32.640 --> 0:09:35.880 whereas a credit card is unsecured, right, Yeah, you can 0:09:35.880 --> 0:09:39.400 file bankruptcy to well it's not obviously the best solution, 0:09:39.520 --> 0:09:42.319 but there's you it's unsecured. You're not going to lose 0:09:42.320 --> 0:09:43.960 your car which you need for work, or your house, 0:09:43.960 --> 0:09:47.520 but you need for you know, for your family. The 0:09:47.559 --> 0:09:50.080 same way with a credit card. And of course banks 0:09:50.080 --> 0:09:54.040 know that they're riskier, that's why they have higher aprs yep. 0:09:54.720 --> 0:09:56.760 And so I think I was just reading someplace that 0:09:57.320 --> 0:09:59.280 I don't know if it was a CNBC that like, 0:09:59.440 --> 0:10:02.079 credit card debts are passed one trillion dollars for the 0:10:02.120 --> 0:10:06.280 first time last year. So can you imagine if thirty 0:10:06.360 --> 0:10:10.120 percent of people are not making credit card payments and 0:10:10.200 --> 0:10:12.600 what that could do to the credit card industry that 0:10:12.720 --> 0:10:15.760 is at the next bubble to burst. I feel like, oh, 0:10:16.000 --> 0:10:18.680 just seeing like what happened with oil today, No, it 0:10:18.800 --> 0:10:21.720 was it today, It was that yesterday of how oil 0:10:21.880 --> 0:10:26.120 prices fail to negative for the first time ever, ever, 0:10:26.160 --> 0:10:30.120 ever in history, And so I just feel like sometimes 0:10:30.200 --> 0:10:33.840 there's like dominoes. Sometimes it's like one thing falls, and 0:10:33.880 --> 0:10:37.640 then sometimes it's like all the things are falling, like 0:10:38.679 --> 0:10:41.199 a historic crash going on, like in the oil market. 0:10:41.240 --> 0:10:43.520 Like, so what are like what next. 0:10:43.720 --> 0:10:47.800 It's like, even if we are better and healthier, the 0:10:47.840 --> 0:10:51.480 financial landscape is just in shambles. And what does that 0:10:51.559 --> 0:10:53.960 mean for us? You know, I have to believe. 0:10:54.679 --> 0:10:57.080 I have to lift you up, Tiffany. I today I'm 0:10:57.120 --> 0:10:58.400 the optimist. 0:10:58.440 --> 0:10:59.320 And usually that to me. 0:10:59.320 --> 0:11:02.160 And I'm like, you sound you sound really dead down 0:11:02.240 --> 0:11:04.640 right now. But we are a recession, like we survive 0:11:04.720 --> 0:11:07.400 the O eight crisis in a lot of ways, that 0:11:07.559 --> 0:11:10.240 was worse, I think financially. You know, we didn't have 0:11:10.280 --> 0:11:12.680 the stimulus bill back then, it was a bank bailout. Now, 0:11:12.960 --> 0:11:15.120 sure the stimulus checks aren't much, but there's something. And 0:11:15.200 --> 0:11:18.880 if and Congress is about to pass another huge multi 0:11:18.880 --> 0:11:22.560 billion dollar, if not trillion dollar bill to increase funding 0:11:22.559 --> 0:11:25.280 for small businesses, I feel like we are we will 0:11:25.320 --> 0:11:28.000 bounce back. But you're right, the same way the financial 0:11:28.040 --> 0:11:30.680 landscape was forever changed by the O eight crisis. It 0:11:30.720 --> 0:11:35.240 will be changed, I hopefully, uh for the better. But yeah, 0:11:35.280 --> 0:11:39.439 I mean, stay with us, Tiffany, stay stay, stay optimistic. 0:11:39.920 --> 0:11:42.120 You know it's so crazy because it's like I'm okay, 0:11:42.520 --> 0:11:45.080 I guess that's what it what it is. It's like, ah, man, 0:11:45.120 --> 0:11:47.280 it's just just the flood to see how many dream 0:11:47.320 --> 0:11:50.120 catchers reach out who are afraid and scared, like because 0:11:50.120 --> 0:11:53.079 of what happened in eighth nine, I have been fortifying 0:11:53.080 --> 0:11:56.160 myself for like the last ten years against this. So 0:11:56.760 --> 0:12:00.120 I feel fairly certain that I'm you know, I'm okay. 0:12:00.160 --> 0:12:02.880 I've got more than a year's worth of emergency saving. 0:12:02.679 --> 0:12:04.720 Saved, you know. I I'm okay. 0:12:04.800 --> 0:12:07.640 I have a strong business that actually does better in recessions. 0:12:07.920 --> 0:12:10.400 But it's just I don't know, I just you know, 0:12:10.480 --> 0:12:12.680 sometimes I think to myself, like, Yo, what would preschool 0:12:12.720 --> 0:12:15.840 teacher at that time Tiffany do right now? Or Tiffany 0:12:15.840 --> 0:12:17.760 who had just lost her job? What would I have done? 0:12:18.200 --> 0:12:19.760 And so I guess it's just I think about those 0:12:19.800 --> 0:12:22.080 people and I'm just like, ah, what are they gonna do? 0:12:22.320 --> 0:12:23.120 What are they gonna do? 0:12:23.800 --> 0:12:25.840 One thing I know for sure is that good times 0:12:26.040 --> 0:12:28.600 and bad times nothing lasts forever. So I know we're 0:12:28.640 --> 0:12:30.680 not always going to be in this position, and human 0:12:30.760 --> 0:12:32.600 beings are very resilient, So I know that there's an 0:12:32.640 --> 0:12:35.120 other side to this. It's just like it could just 0:12:35.160 --> 0:12:38.760 be really like overwhelming. Especially I think I am what 0:12:38.880 --> 0:12:42.120 is that word? When I'm an EmPATH? When you know 0:12:42.320 --> 0:12:45.160 someone who's like an emotional sponge. So sometimes I think 0:12:45.160 --> 0:12:48.240 I'm just maybe soaking up too much worry out there, 0:12:48.280 --> 0:12:49.840 and some I just need a break from it. 0:12:49.760 --> 0:12:52.520 You know, No, I mean the anxiety and the financial 0:12:52.520 --> 0:12:56.599 turmoil is real, like people who were on part of 0:12:56.600 --> 0:12:59.400 the gig economy or had incomes that were you know, 0:12:59.440 --> 0:13:02.400 living paid check to paycheck. It definitely is and I 0:13:02.679 --> 0:13:05.200 want to I don't want to minimize those challenges at all, 0:13:05.640 --> 0:13:08.360 because they really are out there. And again, I will 0:13:08.360 --> 0:13:11.200 post resources so people can find ways to file for 0:13:11.559 --> 0:13:12.840 unemployment benefits. 0:13:13.200 --> 0:13:15.520 I'll post something for you guys. 0:13:15.240 --> 0:13:17.640 Who need to rely on like your local food bank, 0:13:18.080 --> 0:13:19.760 and for those of us who are in a more 0:13:19.800 --> 0:13:24.319 privileged place. And I'm like you, Tiffany, my wounds from 0:13:24.360 --> 0:13:27.200 the Great Recession really helped me, like you said, four 0:13:27.280 --> 0:13:30.920 to fy my financial foundation the past ten years and 0:13:31.640 --> 0:13:35.079 be really you know, a stickler about savings. And I'm 0:13:35.080 --> 0:13:38.000 glad that it did. And because I'm in this position now, 0:13:38.600 --> 0:13:41.560 I think the way that we can cope with some 0:13:41.600 --> 0:13:44.079 of our anxiety is to and feel like, how can 0:13:44.120 --> 0:13:46.640 we help people is we can donate, we can give back. 0:13:47.800 --> 0:13:51.040 One of the things I did is I sent fifty dollars, 0:13:51.080 --> 0:13:52.800 which isn't a lot, but I sent it to the 0:13:53.200 --> 0:13:56.560 woman who was giving me postnatal massages and really just 0:13:56.600 --> 0:13:59.720 brought my body back. My body was wrecked after I 0:13:59.760 --> 0:14:02.360 gave and I loved her Kim May, and I was 0:14:02.400 --> 0:14:04.440 doing that once a month for my own mental health, 0:14:04.440 --> 0:14:06.200 and I was so sad I wasn't able to and 0:14:06.240 --> 0:14:08.600 she told me all about how you know, she's around 0:14:08.600 --> 0:14:12.520 my age, and she had really started to really become 0:14:12.559 --> 0:14:16.720 passionate about post natal care and prenatal care for women. Anyway, 0:14:16.760 --> 0:14:18.840 I send her a tip on Venmo, and Venmo is 0:14:19.440 --> 0:14:22.400 choosing some people who were doing that to match their 0:14:22.440 --> 0:14:26.400 tip for people. And I donated to the prenatal yoga 0:14:26.440 --> 0:14:28.320 studio that I was going to as well, which is 0:14:28.360 --> 0:14:31.640 owned by a woman of color in my area in 0:14:31.640 --> 0:14:34.120 the suburbs, which is very uncommon. And I love D 0:14:34.400 --> 0:14:37.520 and everyone loves D and her. She's created this beautiful 0:14:37.520 --> 0:14:41.400 business for women, by women, for women who were really underserved, 0:14:41.440 --> 0:14:45.040 you know, going through not just prenatal pregnancy complications, but 0:14:45.120 --> 0:14:48.760 like postnatal life. And so I donated to her GoFundMe 0:14:48.880 --> 0:14:51.600 and you know, it's small things like that, but maybe 0:14:51.600 --> 0:14:54.600 there's a way that you could find, you know, to 0:14:54.680 --> 0:14:58.920 support someone in a small way, and except that we 0:14:59.080 --> 0:15:01.160 can't fix everybody. 0:15:01.240 --> 0:15:02.960 Yeah, I feel like one of the best ways. 0:15:03.000 --> 0:15:05.560 Like I've always donated about ten percent of my income, 0:15:06.000 --> 0:15:09.920 but this time I've just been donating more time. I 0:15:09.920 --> 0:15:13.080 don't think I've ever taught more financial education than I 0:15:13.120 --> 0:15:16.080 have now. So, like, I go live at least a 0:15:16.120 --> 0:15:17.720 few times a week just to teach free classes. 0:15:17.760 --> 0:15:19.240 Like y'all know, I have my online. 0:15:18.960 --> 0:15:25.520 School, but I'm like, uh, that's cute, but people need access, 0:15:25.960 --> 0:15:28.400 like free, tangible, real access. 0:15:28.440 --> 0:15:31.440 So we did two free financial series. 0:15:31.800 --> 0:15:33.720 It was like four classes for the first set, four 0:15:33.760 --> 0:15:37.000 classes for the second set of other financial experts who 0:15:37.000 --> 0:15:40.560 were amazing and other experts as well, So we're actually gonna. 0:15:40.320 --> 0:15:42.120 Be I'm gonna be. I put them all together. 0:15:42.280 --> 0:15:44.200 And because people were having trouble finding them because we 0:15:44.240 --> 0:15:47.080 did them on Facebook Live, so I said, I asked 0:15:47.120 --> 0:15:49.520 my team put them all together, put them on one site, 0:15:49.520 --> 0:15:52.360 so that way we could tell people go to budgetista 0:15:52.440 --> 0:15:54.400 blah blah dot com, and that way you can have 0:15:54.440 --> 0:15:57.200 access and watch these videos while you're home. So that's 0:15:57.240 --> 0:16:00.240 gonna be rolling out soon. It's totally free. I feel 0:16:00.240 --> 0:16:01.960 like the thing that always makes me feel better when 0:16:01.960 --> 0:16:04.840 I'm feeling overwhelmed is to be of service. And the 0:16:04.880 --> 0:16:06.800 way that I like to be of service is through teaching, 0:16:07.120 --> 0:16:09.480 because I'm like, if I can know something, I can 0:16:09.520 --> 0:16:12.520 share something, and I know that if I can show 0:16:12.520 --> 0:16:15.840 you a different way or something new or something helpful, 0:16:16.040 --> 0:16:19.320 that you'll show somebody else and then there's a ripple 0:16:19.320 --> 0:16:20.000 effect there. 0:16:20.480 --> 0:16:20.720 Yeah. 0:16:20.760 --> 0:16:24.160 Absolutely, And if finances aren't your strong suit, maybe just 0:16:24.600 --> 0:16:27.600 offering to buy groceries for your neighbor next door, or 0:16:27.840 --> 0:16:29.720 dropping off a gift card to a neighbor you know 0:16:29.760 --> 0:16:32.520 who's lost their job. I know our neighbors they worked 0:16:32.520 --> 0:16:34.960 in the restaurant industry and they're proud, so we just 0:16:35.040 --> 0:16:37.560 dropped them off a gift card. And you know, and 0:16:37.640 --> 0:16:41.160 on Easter, I just bought a couple of little plants, 0:16:41.240 --> 0:16:45.160 like some Kali lilies and gave them to our immediate neighbors. 0:16:45.200 --> 0:16:48.440 And just little acts of kindness. It just makes me 0:16:48.560 --> 0:16:52.400 feel like, Okay, I've done a little something. If you 0:16:52.440 --> 0:16:55.080 can sew, which I can't, sorry to my grandmother who 0:16:55.080 --> 0:16:56.960 spent lots of time teaching me, and I forgot how. 0:16:57.480 --> 0:16:59.400 But if you can sew masks. You can sew them 0:16:59.400 --> 0:17:02.360 and donate them. There's things that you guys can do. 0:17:03.520 --> 0:17:06.000 I did want to just to go back really quick 0:17:06.000 --> 0:17:09.800 to the credit limit decrease question, the immediate impact. So 0:17:10.400 --> 0:17:12.840 I just wanted to think about the questions people might have, 0:17:13.040 --> 0:17:15.120 is well, who is most likely to get their credit 0:17:15.200 --> 0:17:18.280 card limit decreased? Actually, if you don't use your card 0:17:18.359 --> 0:17:19.960 quite often, if you have an older card that you 0:17:19.960 --> 0:17:22.200 haven't used in a while. Our credit expert at lending 0:17:22.200 --> 0:17:24.280 Tree says, those are the cards that issuers are probably 0:17:24.280 --> 0:17:27.199 going to slash first. Which may not seem like a 0:17:27.200 --> 0:17:30.119 big deal, but we talk a lot about credit utilization 0:17:30.520 --> 0:17:33.600 and what a huge component of your credit score that is. 0:17:33.640 --> 0:17:36.440 In fact, it's right up there with making on time payments. 0:17:36.480 --> 0:17:39.679 And what happens when your credit limit decreases is that 0:17:39.720 --> 0:17:43.080 your utilization rate, which is how much credit you use 0:17:43.200 --> 0:17:46.360 versus how much credit you have access to, can increase. 0:17:46.800 --> 0:17:49.520 So let's say you've got ten thousand dollars of available 0:17:49.520 --> 0:17:52.479 credit across three cards, and your credit issuer takes one 0:17:52.480 --> 0:17:54.800 of the cards and decreases it, and now all of 0:17:54.840 --> 0:17:58.000 a sudden, you only have five thousand dollars worth of 0:17:58.000 --> 0:18:02.240 available credit and you carry twenty five hundred dollars across 0:18:02.280 --> 0:18:05.679 those two cards. Now your utilization rate is fifty percent, 0:18:06.040 --> 0:18:08.520 whereas before it might have been like twenty five percent, 0:18:08.920 --> 0:18:11.439 and that can really hurt your credit. So if this 0:18:11.560 --> 0:18:14.600 happens to you, you can try calling your issuer and 0:18:14.640 --> 0:18:19.240 asking them to reconsider. You can ask another issuer for 0:18:19.359 --> 0:18:21.359 the credit credit cards that you still have open if 0:18:21.359 --> 0:18:23.800 they can bump your cards up. Now that's going to 0:18:23.840 --> 0:18:26.240 be a small hit to your credit and because it'll 0:18:26.240 --> 0:18:28.680 be a hard inquiry, but it's something. Or you can 0:18:28.720 --> 0:18:32.240 try to get another card to try and increase your 0:18:32.280 --> 0:18:35.359 available credit. That's really all that there is that you 0:18:35.359 --> 0:18:39.360 can do. So it's unfortunate that it's happening, But definitely 0:18:39.359 --> 0:18:41.560 if you guys, if you guys are experiencing this, we'd 0:18:41.600 --> 0:18:43.879 love to hear from you. Send us an email at 0:18:43.880 --> 0:18:47.520 Brandabission podcast at gmail dot com, or you can shoot 0:18:47.560 --> 0:18:51.200 me a note in Instagram, because I'm curious if people 0:18:51.240 --> 0:18:54.400 are being notified and how they're being notified, because there's 0:18:54.440 --> 0:18:56.680 not really any there's nothing that makes banks need to 0:18:56.680 --> 0:18:58.240 give you a heads up. They can just kind of 0:18:58.359 --> 0:18:58.680 do it. 0:18:58.840 --> 0:19:00.959 Yeah, that's the worst I remember during the last recession 0:19:01.000 --> 0:19:03.320 when I was late on my people don't realize if 0:19:03.320 --> 0:19:06.040 you can. If you're late on one thing financially, it 0:19:06.080 --> 0:19:09.280 can affect all of your things. I was laid on 0:19:09.320 --> 0:19:12.919 my mortgage and then Bank of America, the card I 0:19:12.960 --> 0:19:15.480 had at the time, my credit limit, they slashed it 0:19:15.480 --> 0:19:17.959 in half. And basically when I asked them, they were like, 0:19:18.080 --> 0:19:21.080 you were laid on your mortgage and I was like, yeah, 0:19:21.119 --> 0:19:22.600 but my mortgage is with Chase. 0:19:22.640 --> 0:19:24.119