Speaker 1: It's time for the b a q a a to
Speaker 1: b a q a, which.
Speaker 2: Is said the ba q it would mandate the b
Speaker 2: a q a tiffin a the b a qa a.
Speaker 1: Hey manjer how you doing?
Speaker 3: I can't wait to get into these questions. I look
Speaker 3: forward to this Friday episode so so much. And y'all
Speaker 3: are so generous sending us in your questions. I feel like,
Speaker 3: while you're at it, why not go to iTunes and
Speaker 3: leave us the review because you know how much we
Speaker 3: charge to answer your questions.
Speaker 1: Zero?
Speaker 3: Do you know what I'm saying, So if you have
Speaker 3: a moment, go to iTunes, leave us a review or
Speaker 3: whatever they call it now Apple podcasts, leave us the
Speaker 3: review please do. We read them all and they matter
Speaker 3: so so much, and we just want to flood the
Speaker 3: review system in the Apple algorithm, so they just know
Speaker 3: that ba Faan is here and always.
Speaker 1: Quick mandra Remember we said we're going to do.
Speaker 3: That read oh reviews? Yeah, oh okay, yeah, absolutely.
Speaker 1: Just tell the girls so we'd like you, you know, shop.
Speaker 3: Why not let's do one right now?
Speaker 1: Okay? This one?
Speaker 3: Oh, it was just from this past week. Happy Listener
Speaker 3: two thousand and nine said, it's been an it's an
Speaker 3: inspiring conversation. It's been great to see this podcast evolve.
Speaker 3: I enjoy the I enjoy the current format of a
Speaker 3: longer topic covered Wednesday and shorter Q.
Speaker 1: And a Friday. That's us right now.
Speaker 3: I can't believe how much has happened from Mandy and
Speaker 3: Tiffany over time. Thank you both for being open, honest,
Speaker 3: and vulnerable through the good and not so good times.
Speaker 3: I've learned. I've learned so much from the podcast. In
Speaker 3: Tiffany's book, Keep Teaching. Wow, I needed to hear that
Speaker 3: little pep talk right before I buried my soul on
Speaker 3: this episode. So on this Wednesday episode and then another
Speaker 3: from last week as well. From the Willie thirty says,
Speaker 3: I absolutely love my girls, Mandy and Tiffany. This podcast
Speaker 3: is very informative, fun and just real life.
Speaker 1: Oh I love that woe. If you guys do reviews,
Speaker 1: who my regial here? Read it a good way? You know.
Speaker 2: Not?
Speaker 3: God keep remind us while we do this ba faan.
Speaker 3: But let's get into the questions because we do have
Speaker 3: some juicy money questions.
Speaker 2: Quick disclaimer, right, Remember guys, we are not your attorney advisor,
Speaker 2: We're not your doctor.
Speaker 1: Lawyer.
Speaker 2: None of the we are too smart asorable, beautiful, even
Speaker 2: brown girls on the interwebs. You like answering business, career
Speaker 2: and money questions, so you gotta take it with the
Speaker 2: smallest grain of salt and lean into the people you pay.
Speaker 3: Okay, okay, I love it. Thank you for that, Tiffany
Speaker 3: keeping us out of a courtroom drama every Friday. All right,
Speaker 3: let's start with listener who just wants to go buy
Speaker 3: tea houses sing Hello ladies. Tea says, it is such
Speaker 3: a pleasure writing you. I've been a listener for many years,
Speaker 3: and I look forward to hearing from y'all two times
Speaker 3: a week. From a fellow listener, Romla's question back in
Speaker 3: January on the BAQ and A made me think about
Speaker 3: my own financial situation. We got we should have looked
Speaker 3: up Romo's question. Anyhow, A series of life events has
Speaker 3: taken my credit score from a forty five and twenty
Speaker 3: twenty one to six oh five today. Now that I'm
Speaker 3: in a position to pay off my debts and repair
Speaker 3: my credit score, I wonder do I pay off balances
Speaker 3: in one lump sum payment or spread them out so
Speaker 3: as to show a record of regular study. Payments. Thank
Speaker 3: you very much, looking forward to your advice and insights.
Speaker 1: Do I know you all over this Tiffany.
Speaker 2: Girl, because just last night remind them well and me
Speaker 2: and my friend the Tiva, the credit Nista, so you know,
Speaker 2: on the budget Budgetnissa and the credit Nista. She literally
Speaker 2: is the smartest person I know about credit. I mean
Speaker 2: she goes to like the government meetings, she goes to
Speaker 2: the trainings, all things credit is. She taught a class
Speaker 2: just last night, so it's fresh in the cranium, if
Speaker 2: you will, and.
Speaker 1: In native is here. I feel very confident. She was,
Speaker 1: like put it off.
Speaker 2: She said basically that yes, I understand having kind of
Speaker 2: like showing that, yoh, you're making your payments monthly. Although
Speaker 2: there's a benefit to that, that the bigger benefit is
Speaker 2: I'm assuming that if your score dropped that low is
Speaker 2: because you're carrying over thirty percent of like your utilization.
Speaker 2: Utilization is how much credit you could borrow versus how
Speaker 2: much credit you are borrowing. So let's just say you
Speaker 2: have a credit card one hundred dollars limit and you
Speaker 2: have a ninety dollars balance. Your utilization is ninety percent
Speaker 2: on that card, and so utilization is thirty percent of
Speaker 2: your score and payment history is thirty five percent. And
Speaker 2: so what you're thinking about is like, oh, I can,
Speaker 2: I can pay off you know regularly, But the problem
Speaker 2: is it will keep your utilization. I'm assuming, based upon
Speaker 2: how far you dropped at such a high place that
Speaker 2: it offsets any benefit from paying regularly over the next
Speaker 2: few months. So what I would do is and I'm
Speaker 2: assuming this is what in the tip would suggest as well,
Speaker 2: because she said it like last night on our course
Speaker 2: class together, is to pay that bad boy off. In
Speaker 2: doing so, you should see a lump a jump fairly
Speaker 2: quickly in doing so. That like having so, Nativa said
Speaker 2: something really interesting. I know you've heard that, I've said
Speaker 2: this rule before, and she said that it's a bit outdated,
Speaker 2: this thirty percent rule where you want to keep your
Speaker 2: credit balance under thirty percent of the limit. And she
Speaker 2: said that actually that it came directly from the credit bureaus,
Speaker 2: that they weren't being so literal.
Speaker 1: They basically were.
Speaker 2: Like, well, you really don't want to go over thirty
Speaker 2: percent of what someone has lent to you. But that's
Speaker 2: not a hard and fast rule that if you're close
Speaker 2: to thirty percent, it is bringing down your score still,
Speaker 2: and so she was really like, you want to be
Speaker 2: in that five to ten percent and then paying it
Speaker 2: off every month in full and even lower. If you
Speaker 2: want to see your score moved, you want to be
Speaker 2: in the one to two percent, like one to three
Speaker 2: percent space. So really you want to be basically paid
Speaker 2: off every month. Yes, go ahead, man, it's Tiffany.
Speaker 3: Can I share? I think I talked about I out
Speaker 3: a zero percent balance transfer card for some credit card
Speaker 3: debt while I was launching the business. I was like,
Speaker 3: let me just move this over and keep my cash
Speaker 3: flow a little bit better. And I will attest to that,
Speaker 3: because my credit score did drop while I had that
Speaker 3: credit that balance transfer in the balance transfer promo period.
Speaker 3: It is going to be up in this coming November,
Speaker 3: so next month, and I was so petrified because I
Speaker 3: knew there was a deferred interest clause and I was
Speaker 3: not petrified, but I'm just like, I'm going to pay
Speaker 3: it off.
Speaker 1: I'm going to pay it off.
Speaker 3: But because I wanted my cash flow to be fine,
Speaker 3: I was like, I'm going to do it in one
Speaker 3: limp sum, you know, when we get closer. And I
Speaker 3: finally did, and yeah, my credit score jumped like twenty
Speaker 3: five points.
Speaker 1: That's huge.
Speaker 3: I think I was still like I was at seven hundred,
Speaker 3: and I think it's back up to the high seven
Speaker 3: not even twenty five, maybe more it's back up into
Speaker 3: the high seven hundred. So for sure, when you pay
Speaker 3: it down that big lump sum, it is an instant
Speaker 3: boost to your.
Speaker 1: To your credit score.
Speaker 2: Yeah, and I just want to say, you know what,
Speaker 2: congratulations to you, because I know you probably took like
Speaker 2: an emotional hit from forty five, which is you're only
Speaker 2: five points away from literally like the top score as
Speaker 2: far as Freco is concerned, to six oh five, which
Speaker 2: you know is really considered a credit score that's not
Speaker 2: doing quite as well.
Speaker 1: So to be able to get yourself.
Speaker 2: And together to a position where you could pay it
Speaker 2: off in full, that's not a small thing. So I
Speaker 2: hope you take a moment to say, snaps all around
Speaker 2: for me. I did it, and my name's T That's
Speaker 2: what I did for you. Thanks for sharing tea. So
Speaker 2: we take a quick break. Oh, I want to do
Speaker 2: a little segment, but we're gonna talk about we come
Speaker 2: back called what do we say? Look, I forgot already, like, well,
Speaker 2: we're gonna when we come back, we're gonna take a
Speaker 2: break and then we're gonna Reremember.
Speaker 3: She's gonna tell me, so I remember.
Speaker 2: When we write back for a break, and we'll be
Speaker 2: back in a moment. Okay, we're back, but my memory
Speaker 2: is still on that back. Remember when we take them
Speaker 2: Wednesday episode, you and I were just kind of sharing
Speaker 2: all of our financial shenanigans, and we said, sometimes I
Speaker 2: don't need you to fix it.
Speaker 1: I just want to be able to like say the thing.
Speaker 3: Oh yes, yes, just like just say the thing out loud,
Speaker 3: and to do like a word vomit. And you don't
Speaker 3: you don't want a solution, You're just wanting to get
Speaker 3: it off your chest.
Speaker 1: And it's a lighter share the burden. So like, what
Speaker 1: should we call that?
Speaker 2: Because I think that would be nice every once in
Speaker 2: a while to do like get it off your chest.
Speaker 3: Or okay, you be a confessional.
Speaker 1: A journalist and whatever. I love that. So we're gonna
Speaker 1: start like a first of all, me and Madi would
Speaker 1: likely forget. But what are we going to read them?
Speaker 2: I think so because so when no name is always anonymous, yeah,
Speaker 2: always anonymous, and so you know, don't put like well
Speaker 2: I live in New Jersey on and I have three.
Speaker 3: Like, so Tiffany, stop that and Mony cut that out.
Speaker 1: You did it again.
Speaker 3: It's like the intrusive thought keeps coming.
Speaker 2: It's like, okay, so make sure that you don't have
Speaker 2: any things in there. Like I work at IBM next
Speaker 2: to my friend Melissa and she gets on my no, Like,
Speaker 2: you want to make sure that whatever your confessional is
Speaker 2: in the it makes market be a confessional. So we
Speaker 2: know this means you just want us to read it
Speaker 2: out loud because you just want someone to tell you
Speaker 2: just want to bring it out, and we're not going
Speaker 2: to offer any feedback, any anything.
Speaker 1: We're just going to read it without judgment, without comment. Okay.
Speaker 2: Sometimes you just if you listen to our Wednesday episode
Speaker 2: prior me and Mandy, just like we had.
Speaker 1: Our confessionals ourselves, So go ahead and listen.
Speaker 3: And so sometimes you're in a shitty situation and even
Speaker 3: you know how to get out of it. Yeah, the
Speaker 3: thing is like I know how to get out. I
Speaker 3: know exactly what I need to do as far as
Speaker 3: my own business, financials and taxes and all that kind
Speaker 3: of stuff. But it doesn't make that going through it
Speaker 3: any less hard. And people don't know that you're going
Speaker 3: through it, so saying it out loud, it just it
Speaker 3: doesn't fix the problem, but it makes you feel lighter.
Speaker 3: I feel lighter having told Tiffany and you know, thousands
Speaker 3: of y'all who are listening, it didn't mean to know
Speaker 3: my business, but here you are. And that's the promise
Speaker 3: I made you when I heard this show. Yeah, so
Speaker 3: we hope that that will, you know, give you a
Speaker 3: place to just whisper your little dirty financial secrets. Yeah,
Speaker 3: tell us about the debt that you got. You don't
Speaker 3: have to be perfect for us, you know, be vulnerable,
Speaker 3: like show us.
Speaker 2: Out that because that like that thing you bought that
Speaker 2: your your partner is like what that they don't know?
Speaker 3: We want to know that you want to know or
Speaker 3: you know, did you hide something from your partner that
Speaker 3: you bought. I might have decreased the price of that
Speaker 3: pottery pottery barn bedding by about two hundred dollars. One
Speaker 3: husband asked me how much it was. Why does it matter?
Speaker 1: We need it?
Speaker 3: Yes, I love that be a confessional.
Speaker 2: One of the things I learned from my business coach
Speaker 2: Zion and even my therapist doctor Green, is that one
Speaker 2: of the ways to release shame is to give voice
Speaker 2: to it. And so we want to just get provide
Speaker 2: a space so you can give voice to some of
Speaker 2: the things that you might be ashamed of.
Speaker 1: Because we're not going to judge you here.
Speaker 2: We're going to read it and be like, well, I
Speaker 2: hope you take a USA and a and a breather,
Speaker 2: and I hope that hearing your confession out loud gave
Speaker 2: you a little bit of like, because sometimes hearing it
Speaker 2: out like you like, it's actually not as it's not
Speaker 2: as crazy as I thought. So yeah, so be a confessional.
Speaker 2: We don't have one this week, but you know, we
Speaker 2: want to start to add that in every once in
Speaker 2: a while when you guys, you know, just make sure
Speaker 2: you market be a confessional so we know that you're
Speaker 2: not wanting solutions. You just want to you want to
Speaker 2: give voice to something that's happening to you.
Speaker 3: Yes, I love that, all right, next question, Next question,
Speaker 3: you're gonna read this one.
Speaker 2: Yes, this is from Okay. This doesn't say but I
Speaker 2: was like, I think I cased her name. Hey Robin,
Speaker 2: she says, Hey, ladies, question for you. I'm in the
Speaker 2: process of signing up with a new internet provider Kai,
Speaker 2: I'm being offered ten dollars off my monthly bill if
Speaker 2: I set up direct debit from a bank account. I've
Speaker 2: noticed this is becoming a trend. It is, and I'm
Speaker 2: tempted to set up checking a checking account specifically for
Speaker 2: only these types of transactions to take advantage of the discounts.
Speaker 1: Okay, thoughts, PS, This.
Speaker 2: Comes from a place of being super freaked out about
Speaker 2: information and identity theft.
Speaker 1: Thank you you guys. Hear heart, heart heart. So what
Speaker 1: you say, Mandy, Well.
Speaker 3: I think it's interesting and kind of strange that they
Speaker 3: are incentivizing a debit transaction. I'm guessing it's because they
Speaker 3: don't want the processing fees that credit card issuers charge them,
Speaker 3: and they're trying to think about their bottom line and
Speaker 3: what's best for them. And you know, ten bucks honestly
Speaker 3: is a lot of money when you think about it.
Speaker 3: I mean it could be like ten I feel like
Speaker 3: that's ten percent of the average credit I mean, not
Speaker 3: credit card cable bill in hundred.
Speaker 1: Dollars eighty seven or eighty.
Speaker 3: Yeah, and if you want premium channels, you want Telemundo,
Speaker 3: that's cost extra.
Speaker 1: That's my in laws. Yeah.
Speaker 3: So I can see how that could be tempting. I
Speaker 3: think in this case, if you have a bank account,
Speaker 3: that will just allow you to create for free an
Speaker 3: extra bank account. You could always sorry, I created like
Speaker 3: if you have a checking account, for example, you could
Speaker 3: create another sub checking account and it wouldn't cost anything,
Speaker 3: but you get a new account number and a separate thing.
Speaker 3: And then as far as like if you're worried about
Speaker 3: identity theft and then getting or taking your identity and
Speaker 3: then emptying your checking account, which is a real thing
Speaker 3: that can happen, and unfortunately when they take your cash,
Speaker 3: it's like you may have some protection through your you know,
Speaker 3: checking account as far as like identity theft and fraud
Speaker 3: for taking the money out, but you have to catch
Speaker 3: it mostly to get the whole benefit. You have to
Speaker 3: catch it within like sixty days if you want all
Speaker 3: the money back, and it can be a little bit
Speaker 3: more challenging then if it worked. See insurance for taking
Speaker 3: accounts so FD I see insurance is like if the
Speaker 3: bank loses your money, oh that's ft I C insurance
Speaker 3: isn't for like fraud, so yeah, and I need I
Speaker 3: don't have. I used to know this verbata because as
Speaker 3: as you know, when I was running a content team
Speaker 3: for personal finance sits, we would update this language all
Speaker 3: the time. But so I would say, I know, I
Speaker 3: know generally that credit cards they have the zero liability
Speaker 3: fraud insurance. That's like a very standard benefit now, which
Speaker 3: means if you're defrauded, you're like, you're not going to
Speaker 3: owe us the money. With a checking account, if you're defrauded,
Speaker 3: you may not owe back the money.
Speaker 1: Sorry, you may not.
Speaker 3: You know, you may be able to get your money back,
Speaker 3: but you have to typically catch it sometimes within sixty
Speaker 3: days or thirty days, and it may not be all
Speaker 3: of it and maybe just more of a workaround to
Speaker 3: get it. So it's a little bit trickier. That's why
Speaker 3: typically they'll advise you to like, you know, will advise
Speaker 3: you to use your credit card for that type of thing.
Speaker 3: But I feel like to get around it, you could
Speaker 3: open a sub checking account, just tie the payment to
Speaker 3: that one account and make sure you got the money
Speaker 3: in there each month for your payment. Yeah, that's what
Speaker 3: I'll say. And then what do you think you looking
Speaker 3: at the latest on the identity theft for checking accounts,
Speaker 3: I think we should.
Speaker 2: Know what I did I'm looking at it. I'm not
Speaker 2: sure if this is still because I remember a few
Speaker 2: years ago, Credit sests Me actually launched this first totally
Speaker 2: free credit and identity protection service. I remember because they
Speaker 2: reached out to me and I work with them. I'm
Speaker 2: trying to see credit Me. Yeah, I'm trying to see
Speaker 2: if it's still there, if they still have it, because
Speaker 2: they had it, and I remember it was up to
Speaker 2: fifty thousand dollars, which is great, and this was free,
Speaker 2: so you signed up for a free credit sez to
Speaker 2: Me account.
Speaker 3: I don't know, Tiff, it's credit sized me even around anymore.
Speaker 1: I That's why i'm looking it up now to because
Speaker 1: you know.
Speaker 3: These platforms, I mean, I feel old.
Speaker 2: It still is around, but I'm just wondering if they
Speaker 2: still have the oh my gosh, the identity theft protection
Speaker 2: because it used to be free.
Speaker 1: Like I said, that was some years ago. I'm just
Speaker 1: looking to see.
Speaker 2: I'm trying to see on their site because I remember
Speaker 2: I thought that was really great. It was, like I said,
Speaker 2: it was up to fifty thousand dollars that you could
Speaker 2: you get free. They do have free credit monitoring, and
Speaker 2: so I will say that about credits as me. That
Speaker 2: still is true and they are still around. I'm looking
Speaker 2: on here now. I just don't know if they have
Speaker 2: the identity theft protection, but they do have credit monitors
Speaker 2: take guard your credit. Credit monitoring helps protect your identity.
Speaker 1: I'm looking here. Support your finances can help you. Okay?
Speaker 1: Is our credit monitoring really free? Yes?
Speaker 2: With your credit test me account, you get TransUnion credit
Speaker 2: monitoring for free. You also get free daily credit credit
Speaker 2: score refreshes, so you always know where you stand. Okay, well,
Speaker 2: at the very at the very least. With credit test
Speaker 2: Me you get free credit monitoring. A lot of places
Speaker 2: offer that, but I, you know, dig a little deeper
Speaker 2: to see if they not only offer credit monitoring but
Speaker 2: the identity theft protection, because they had that before and
Speaker 2: it was incredible.
Speaker 1: I just don't know if they still have.
Speaker 3: Two factor authentication. Let's not under like, if you're talking
Speaker 3: about how to prevent someone from like logging into your account,
Speaker 3: they get your account details. Two factor authentication goes a
Speaker 3: long way to protecting even your passwords and things like that.
Speaker 3: It sounds simple, but if you don't have two factors
Speaker 3: authentication authentication turned on for your banks, get that turned
Speaker 3: on even face ID, you know, log in something like that.
Speaker 3: But I love, I love how easy it is when
Speaker 3: you do the two factor authentication and then it like
Speaker 3: texts your phone. And with the iPhone, now you got
Speaker 3: this feature.
Speaker 1: Do they have that with the Android?
Speaker 3: I don't know. But when you're in the app, it'll
Speaker 3: already read your text message and just give you the number.
Speaker 3: It's like, do you want to copy and paste this numbers?
Speaker 3: You don't have to like go to the text, remember
Speaker 3: the number, come back to the page and type it
Speaker 3: in you just like automatically. So it's so easy and
Speaker 3: it's such a simple thing to do too.
Speaker 1: Oh and and just so word because I found it.
Speaker 2: So I I'm on securities dot security dot org and
Speaker 2: they reviewed credits to me.
Speaker 1: I think as of this year, this is what they like.
Speaker 2: Basic credit and identity identity monitoring, multi factor authentication that
Speaker 2: you're just talking about, Mandy.
Speaker 1: And they do have identity theft insurance what I love.
Speaker 2: Even if you don't pay for a plant, because they
Speaker 2: do have a plan, you can be eligible for up
Speaker 2: to one million dollars in reimbursement if your identity gets stolen. Yeah,
Speaker 2: and so they don't like is that shaky privacy poly
Speaker 2: and privacy policy and jurisdiction. Let's see, credits Me isn't
Speaker 2: a good choice for the for the privacy concern. Oh
Speaker 2: don't there you go, chunky sign up and limited customer support.
Speaker 2: So this is their bottom up, yeah, meaning like it's
Speaker 2: probably like weird to sign hard to sign up. They
Speaker 2: gave it the rating of eight point seven out of ten.
Speaker 2: It says, not only did credits as Me give us
Speaker 2: monthly credit updates from all three bureaus, we also got
Speaker 2: identity theft insurance. If our identities were stolen, we could
Speaker 2: have gotten rembursed up to one million dollars. So that's
Speaker 2: just something to take a look at, you know, potentially,
Speaker 2: Like they also have LifeLock as one of those ones.
Speaker 2: If you don't have LifeLock, chot.
Speaker 1: I have LifeLock. Okay, I love LifeLock.
Speaker 2: It has helped me so many times because LifeLock, I mean,
Speaker 2: but you do pay for LifeLock. I think I paid
Speaker 2: like ten or twenty bucks a month, and because people
Speaker 2: have tried to sell my identity before, and LifeLock be like, girl,
Speaker 2: is is you send me a text?
Speaker 1: I'm like it's not.
Speaker 2: And so if you're concerned in general, Like I wouldn't
Speaker 2: much worry about this bank account. I would be thinking
Speaker 2: if I'm worried in general that I would be, I
Speaker 2: would have signed up. Maybe that ten dollars you're saving,
Speaker 2: you put it toward like a LifeLock or like to
Speaker 2: pay for identity theft you know program. Quite honestly, to me,
Speaker 2: it's worth it because at one point it was happening
Speaker 2: a lot. Someone was trying and once since I got LifeLock,
Speaker 2: that that completely stopped. With LifeLock, I'm able to freeze
Speaker 2: my accounts, which I did when when Jarelle passed away.
Speaker 2: Angelie my financial advisor, is like, right away freeze his
Speaker 2: credit because people will look up obituaries and try to
Speaker 2: know that you're grieving yes, and try to go with
Speaker 2: So I went into LifeLock because we had LifeLock together.
Speaker 2: Froze all of his accounts and his social Security number.
Speaker 2: I just happened to like like LifeLock because I've been
Speaker 2: using it now for a number I don't work with
Speaker 2: them or anything. I've been using it now for a
Speaker 2: number of years. But it doesn't hurt to get a
Speaker 2: free credit sess me account just to have that backburner too,
Speaker 2: you know, like get that for free, but then LifeLock
Speaker 2: or another like system like that that you pay.
Speaker 3: She was like, dang, I want to eat Chipotlet once
Speaker 3: a month.
Speaker 2: I know, tagget it, but it's like you want to
Speaker 2: you want to eat Apotle or you want to make
Speaker 2: sure that you actually have Chipotle money in the futen.
Speaker 3: I don't agree.
Speaker 1: Okay.
Speaker 3: I did want to catch because I left this an
Speaker 3: open ended thing and I don't like doing that. But
Speaker 3: I did bring up the idea of what happens if
Speaker 3: you have unauthorized purchases on your debit account, like your
Speaker 3: your checking account, and I talked about the limit and
Speaker 3: like if you have to that you generally do need
Speaker 3: to contact your bank within a certain timeframe. But I
Speaker 3: found that the updated info from US News and World
Speaker 3: Report oh edited by a former freelancer of mind. Okay, anyway,
Speaker 3: So in most cases, federal law limits your liability for
Speaker 3: unauthorized debit card purchases to fifty dollars, provided you report
Speaker 3: the fraud within two business days of discovering it. If
Speaker 3: you report the debit card fraud after two business days
Speaker 3: but less than sixty calendar days, you could be liable
Speaker 3: per up to five hundred dollars, and if you don't
Speaker 3: report the fraud within sixty calendar days of receiving your statement,
Speaker 3: you could be liable for any amounts stolen from your account.
Speaker 3: So this is why it's important to regularly review your
Speaker 3: bank statements and which the tools that Tiffany's talking about,
Speaker 3: like if you get a credit card or one of
Speaker 3: these like monitoring systems or what I do is I
Speaker 3: don't care how how annoying it is. Every time I
Speaker 3: use my credit card or my checking I don't evenly
Speaker 3: use debit. When I do, I get an email with
Speaker 3: the transaction.
Speaker 1: So just like this quick skim through.
Speaker 3: Each day, I go through my email and I'm like,
Speaker 3: oh that, oh yeah, husband went God, is you know
Speaker 3: metro card reloaded? I guess that was all me this month.
Speaker 1: That's fine again.
Speaker 2: Okay, yeah that does my AMX does it? It sends me
Speaker 2: a text. Yeah, I'm not gonna lie. I have it
Speaker 2: for my business card, and it quote unquote is annoying,
Speaker 2: but not really because I'm like wait what and that
Speaker 2: Sometimes I'm like we still use that company? No, no, no,
Speaker 2: that I'll hit up Georgia my cfon and being like Georgia,
Speaker 2: why do we still work with?
Speaker 1: So yeah, that's that's actually great.
Speaker 2: You know I never thought about that to not just
Speaker 2: do it for my business but for my personal Oh yeah, yeah,
Speaker 2: so that's all.
Speaker 1: That's really great.
Speaker 2: Yes, like having a text or email sent to you,
Speaker 2: so you're like, wait, who charged?
Speaker 1: What ever?
Speaker 3: Sent someone in New Orleans like spent thirty bucks on
Speaker 3: my Fandango account on movie tickets. I was like, not again,
Speaker 3: not again, not ever, not ever? Alright, A good question
Speaker 3: actually an old like a question that is Tailor's oldest time.
Speaker 3: But also it's good to look up the most recent
Speaker 3: and see that you know that liability really hasn't changed
Speaker 3: for checking accounts.
Speaker 2: So if you have questions, ask us or confessions, Yes,
Speaker 2: questions or confessions, what you're gonna do?
Speaker 1: Questions? All confessions here? How are you? Questions? A confessions on.
Speaker 3: The b A you can tell it where the PBS
Speaker 3: generation everything, have like a fifty little jingle to open
Speaker 3: it up.
Speaker 2: I know, all right, y'all, but yes, if you do,
Speaker 2: certainly can go to the BA podcast dot com.
Speaker 1: Oh no, look Brown Ambition podcast dot com.
Speaker 3: Google Brown Ambition. That's all you got to.
Speaker 2: Do yeah, just Google and just like you know, however, Instagram, Twitter,
Speaker 2: our site, just like you know, hit us up and
Speaker 2: ask us questions about business, career, personal finances, whatever.
Speaker 1: We're here for you, okay, all right until next week.
Speaker 3: Until next week, Bye bye