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Speaker 1: Hey, hey, ba fam, are you ready to level up

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Speaker 1: now and let's get started on your next big career move. Hey, hey,

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Speaker 1: ba fam, we have some company in the studeo today.

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Speaker 1: This has been a long time coming and I can't

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Speaker 1: think of a better way to kick off the year,

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Speaker 1: especially when Brown Ambition fam, y'all have been so generous

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Speaker 1: and kind to let me peek into the window of

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Speaker 1: your financial stressors, Like what is keeping you up at night?

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Speaker 1: What is getting y'all stressed when it comes to your finances?

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Speaker 1: Is it housing? Is it groceries? Is it jobs? Is

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Speaker 1: it transportation? And I have to say, I'm going to

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Speaker 1: share some of those survey results with y'all, but because

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Speaker 1: of the results, I just knew I had to do

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Speaker 1: an episode all around the dirty D word debt, debt, debt, debt, debt, y'all.

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Speaker 1: One of the most viral clips from Brown Ambition of

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Speaker 1: twenty twenty four was when I Mandy Woodrow Santos, raised

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Speaker 1: my hand and I said, yeah, I'm in a bad

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Speaker 1: financial place too. I'm in a tough financial spot, like

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Speaker 1: housing is so incredibly expensive, taking care of these babies

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Speaker 1: is so incredibly expensive. It's like I don't have one mortgage,

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Speaker 1: I have three because childcare right and be a fam. Overwhelmingly,

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Speaker 1: y'all were so compassionate, but you also shared your stories,

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Speaker 1: and that's why I decided let me actually do a

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Speaker 1: survey of our audience. It has been a long time,

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Speaker 1: and because of that survey, like I said, I just

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Speaker 1: knew that I wasn't alone. And Brown Ambition was literally

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Speaker 1: created so that we could have a non judgmental table

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Speaker 1: to come to. Y'all can feel like you're sitting across

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Speaker 1: from your sister friends and we can get through the

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Speaker 1: tough times together. So in twenty twenty five, to kick

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Speaker 1: off the year, I had to invite some friends along

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Speaker 1: for the journey as well, and I couldn't think of

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Speaker 1: a more incredible pair than the two women who are

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Speaker 1: in the studio today. So let's give a warm ba

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Speaker 1: fan welcome to today's company. We have Dasha Kennedy, aka

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Speaker 1: the Broke Black Girl. Y'all may know her from these

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Speaker 1: Internet streets. Dasha has been a guest on Brown Ambition before,

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Speaker 1: and today she is here. She's a trailblazing financial activist

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Speaker 1: and educator who's committed to transforming the world of finance

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Speaker 1: into a more equitable and accessible space for women, and

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Speaker 1: she is joined by her partner in crime for the day,

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Speaker 1: Natalia Brown. If y'all haven't heard of Natalia, you must

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Speaker 1: get to know my friend, my new friend. Now. She

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Speaker 1: has spent on at nearly a decade now working at

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Speaker 1: the National Debt Relief. She is the chief Compliance Officer

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Speaker 1: and Consumer Affairs Officer at National Debt Relief. And Natalia

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Speaker 1: and Dasha are here today because DAYSHA partners with National

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Speaker 1: Debt Relief and I want to talk to y'all about

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Speaker 1: the word that is keeping me and OURBA fam all

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Speaker 1: up at night. So we're going to talk through, hopefully

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Speaker 1: a little bit about how the heck a company like

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Speaker 1: National Debt Relief even works because I think I ton't

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Speaker 1: to tell you when we first met. I have I

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Speaker 1: have some questions. Debt relief agencies get a bad rap.

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Speaker 1: There's a lot of confusion about what they do what

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Speaker 1: they don't do. So I want to get to the

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Speaker 1: nitty gritty of like how can y'all help consumers. And then, Dasha,

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Speaker 1: you're always giving incredible finance tips to your audience and

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Speaker 1: real world talk. I know because you're raising two boys.

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Speaker 1: We all have two boys each. Do we decide that

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Speaker 1: that's that's a crazy coincidence? And I know that you've

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Speaker 1: got some real incredible tips for our audience as well

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Speaker 1: on how they can start tackling their debts. So, without

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Speaker 1: further ado, welcome ladies.

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Speaker 2: Thank you for having us.

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Speaker 1: And just for the say hi va vam. So can

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Speaker 1: each of y'all just say a few words so that

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Speaker 1: people can get used to your voice, because don't you know,

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Speaker 1: when like you're on a podcast and you hear three

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Speaker 1: different people, you're like, who that whod so day? Should

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Speaker 1: you go first?

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Speaker 3: Well, I'm Deisha Kennedy, creator of the Roqueg Girl. I'm

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Speaker 3: super excited to be here today just to talk about

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Speaker 3: it too. Was like you said, I think that within

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Speaker 3: itself gets a bad reputation, and we'll really talk about it.

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Speaker 3: We find out that it's not this boogieman that has

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Speaker 3: been made out to be.

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Speaker 1: I don't believe you. I think it absolutely is a

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Speaker 1: boogeyman and it's on my back daysha. Okay, So Dasha

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Speaker 1: got that real southern where are you from again?

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Speaker 3: From the Middlewest? From Saint Louis, Missouri born and raised.

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Speaker 1: Oh Saint Louis. I was like, it's country, but it's not.

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Speaker 1: It's that nelly country. Okay, gotcha. But now you're in

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Speaker 1: Atlanta or word, yes, you're in the A Okay, all right,

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Speaker 1: get a little southern flavor, all right, Natalia? All right,

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Speaker 1: your turn my turn.

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Speaker 2: So I'm Natalia. I just go by that most of

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Speaker 2: the time. And I love that you said that Mandy,

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Speaker 2: debt doesn't have to be a boogeyman, but I know

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Speaker 2: it feels that way. But all you need is a plan,

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Speaker 2: and it always feels better. Once you have a plan,

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Speaker 2: you know what direction you're going in. And there is

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Speaker 2: a lot of stigma. There's a lot of stigma around

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Speaker 2: debt itself, around debt relief companies, what we do, what

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Speaker 2: we don't do. And the reality is that there are

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Speaker 2: laws that you know are in place to protect consumers.

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Speaker 2: I am that is my job is to protect our consumers,

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Speaker 2: and I'm always putting people first. So I think we

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Speaker 2: can talk about that at length. And I hope you

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Speaker 2: feel better at the end of it.

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Speaker 1: Oh that's kind. I hope that y'all feel better too,

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Speaker 1: but at the very least feel better because you are

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Speaker 1: not alone. So according to our survey, and I'm happy

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Speaker 1: to hear nat if you guys have done any data,

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Speaker 1: But like, we get it, people are in debt. Like

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Speaker 1: the economy right now for me is like, yeah, businesses

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Speaker 1: are making money, but they're making money because things are

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Speaker 1: so so much more expensive and us underneath that, you know,

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Speaker 1: like everyday working class Americans, we are getting squished. Over

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Speaker 1: fifty percent of y'all said you were somewhat worried about

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Speaker 1: your finances, twenty percent said you're very worried, and there's

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Speaker 1: another twenty percent that are extremely worried. So that means

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Speaker 1: literally everybody who listens to the show is a little

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Speaker 1: bit at least somewhat worried about their finances. And so

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Speaker 1: many of you guys are very worried. And number one

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Speaker 1: on the list of biggest sources of financial stress, can

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Speaker 1: you believe it's paying down debt? Fifty eight percent of

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Speaker 1: our listeners, more than half, say that paying down debt

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Speaker 1: is the biggest source of financial stress. Now stress. I

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Speaker 1: love that book The Body Keeps the Score, And I

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Speaker 1: just know that that stress is not just about you know,

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Speaker 1: something that's weighing on you that you know gives you

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Speaker 1: a little bit of heartburn during the day, but it

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Speaker 1: can literally make you physically ill to think about this debt.

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Speaker 1: And in my case, over the years, it can make

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Speaker 1: me feel like frozen, don't know what to do, don't

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Speaker 1: know where to turn. So nat I'm curious because I'm

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Speaker 1: gonna call you net though you said I could. I'm

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Speaker 1: curious if you could talk about what it's like when

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Speaker 1: people come to National debt relief in what sort of

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Speaker 1: like mental state are they in at the time, and

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Speaker 1: how do you guys start helping them.

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Speaker 2: There is a full range. There's fear, there's anger. I

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Speaker 2: think stress manifests itself very differently for different people, So

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Speaker 2: we're very much trained to kind of acknowledge that. Right,

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Speaker 2: some people are embarrassed because they have the good job,

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Speaker 2: they've had the good life, and it's really hard to say, like, yeah,

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Speaker 2: I make one hundred thousand dollars, but I'm also way

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Speaker 2: over my head, right. Sometimes it's you know, as your

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Speaker 2: income increases, your expenses increase, or you have emergencies. So

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Speaker 2: we have people like that. We also have people who

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Speaker 2: may not make enough, or they've had a divorce, or

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Speaker 2: their child has gotten sick. Medical reasons are a lot

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Speaker 2: of reasons why a lot of people go out of

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Speaker 2: debt and have to rely on credit cards as well.

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Speaker 2: So they come to us in very very different ways.

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Speaker 2: But at the end of the day, everyone wants the

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Speaker 2: same thing is to not have that stress of having

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Speaker 2: to figure out where the money is going to come

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Speaker 2: from to lower the cost of their interest and all

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Speaker 2: of the debt that they have. So it's at the

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Speaker 2: end of the day, the plan that we give people

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Speaker 2: gives everyone hope, and I think that's what we try

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Speaker 2: to offer as much as possible as hope and a plan.

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Speaker 1: So what actually does national debt relief do? So I'm

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Speaker 1: calling your number and am I going to hear from that?

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Speaker 1: Is it going to be like, Hey, this is not

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Speaker 1: I feel you? What's going on? Like? What is that

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Speaker 1: process like? And what kinds of services do y'all offer?

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Speaker 3: Well?

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Speaker 2: I hope so someone on the phone won't be me,

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Speaker 2: but it will be someone on the phone that is

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Speaker 2: welcoming human or not like change a human, not a computer,

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Speaker 2: not a AI voice, because that's the real thing these days.

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Speaker 2: An actually human person will answer the phone, ask some

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Speaker 2: very simple questions and really understand what the debt landscape is,

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Speaker 2: like what is the unsecure debt? Is a credit cards?

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Speaker 2: Is it medical debt? Is a reprocess debt? Is it

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Speaker 2: basically just unsecured. We'll take a look at that profile,

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Speaker 2: look at how much you're paying in minimum balances, and

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Speaker 2: then get that info.

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Speaker 1: Are people is it like you're filling out a form

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Speaker 1: with all of your accounts and then you guys have

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Speaker 1: like a portal.

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Speaker 2: Yes, with your the client's permission, we will pull credit

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Speaker 2: verify everything while the client can sell us send us

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Speaker 2: a statement of all of their debts, so they do

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Speaker 2: have access to a portal. It will show them everything

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Speaker 2: that they have. It will give them options around what

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Speaker 2: program payment makes sense for them, because that can also

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Speaker 2: be flexible depending on how long you want to be

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Speaker 2: in a program. And the ultimate goal is to get

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Speaker 2: that total debt reduced by settling one debt at a time,

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Speaker 2: sometimes two at a time with a manageable monthly payment.

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Speaker 2: So that's the process. It's really customized towards each individual,

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Speaker 2: so there's not a one size fits all plan for anyone.

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Speaker 1: But debt settlement is the goal.

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Speaker 2: That settlement is a goal debt reduction. So let's say to

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Speaker 2: tenthou some dollar debt our goals to try to save

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Speaker 2: as much money on that debt by negotiating with that creditor.

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Speaker 2: And sometimes it's a lumsome repayment, sometimes it's over terms,

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Speaker 2: but it's always going to be a reduction of that

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Speaker 2: ten thousand dollars so our goal is to at least

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Speaker 2: get it down to five thousand plus our fee.

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Speaker 1: So when you're someone like, how do you know when

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Speaker 1: you have enough debt or the right kinds of debt

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Speaker 1: to be a good candidate for debt settlement? And I

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Speaker 1: can go ahead and describe what I think of debt

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Speaker 1: settlement as and then you tell me if I'm right

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Speaker 1: or wrong, because I'm kind of playing the part of

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Speaker 1: a regular person. And so the way I did manage

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Speaker 1: a content team for like five years, and we've heard

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Speaker 1: about this stuff all the time, but whatever I forgot,

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Speaker 1: But debt settlement to me is like, especially if you're

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Speaker 1: just a consumer and you're being pursued by you know,

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Speaker 1: let's say it's a hospital or it's a creditor credit

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Speaker 1: card company for a past do debt and you call

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Speaker 1: them up and you're like, I know, I owe you

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Speaker 1: a thousand dollars. I can't pay it. I could pay

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Speaker 1: you for hundred, and they're like, no, maybe five hundred,

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Speaker 1: and then you you'll pay a lump sum and they'll,

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Speaker 1: you know, go about their their day. Did I get

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Speaker 1: that right?

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Speaker 2: Almost? Sometimes that five hundred can be broken up over

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Speaker 2: twelve months, So I'll give you a ninety percent you pass.

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Speaker 1: Oh nice, Well, lump sum payment was what my That's

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Speaker 1: like the three words that keep coming to my mind

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Speaker 1: is like, settle your debt. But it's but you have

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Speaker 1: to have the cash on hand for a lump sum,

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Speaker 1: so it's good to know. Potentially you don't, you can

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Speaker 1: get a payment.

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Speaker 2: A flexibility that we offer, so if it's available, sure,

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Speaker 2: but it's usually the best interests of our clients since

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Speaker 2: there's multiple debts, to break those settlement amounts over time

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Speaker 2: so that we can get things moving on each credit

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Speaker 2: a little bit faster.

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Speaker 1: Have you ever used debt settlement yourself, Dasha, or had

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Speaker 1: to settle debts?

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Speaker 3: No, well, I'll take that back, yes I did. So

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Speaker 3: my experience was settling with debt was me trying to

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Speaker 3: figure it out on my own. And so I'm just

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Speaker 3: going to tell you what my experience was. It was

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Speaker 3: me coming home one day from work. I had groceries

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Speaker 3: in hand, and someone called my phone and it was

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Speaker 3: a debt collector and it was a very threatening call

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Speaker 3: and it was almost like, if you don't pay this debt,

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Speaker 3: we're going to report it to the police. So I

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Speaker 3: was extremely scared. Immediately paid it, never heard anything else

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Speaker 3: about it. Now, I was in my early twenties. This

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Speaker 3: probably could have been a scam, It probably could have

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Speaker 3: been real. But this was just where I landed simply

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Speaker 3: because I didn't know. And I'm sure that's not how

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Speaker 3: debt settlement works now that I know better, but back

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Speaker 3: then I ran into that a lot. So just putting

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Speaker 3: myself in the shoes of someone that was just starting off.

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Speaker 3: I'm sure a lot of people get calls like that.

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Speaker 3: They get calls from debt collectors probably are more aggressive

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Speaker 3: than what we would like, and if we don't know

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Speaker 3: what our options are, we fall victims to what we

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Speaker 3: think is debt settlement. But as Ned explained, we now

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Speaker 3: know that it is completely different and more than that.

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Speaker 1: Yeah, so Dashauld, When was that was that pre like

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Speaker 1: consumer Financial Protection Bureau post, you know, like after the recession?

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Speaker 3: This was I am I'm thirty six now, so this

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Speaker 3: had to be around in my early twenties. Okay, this

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Speaker 3: had to be in my early twenties when this happened.

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Speaker 3: And again I was just so afraid that I just

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Speaker 3: immediately paid it. And I was young, very new to

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Speaker 3: learning anything about money. I knew that it was a

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Speaker 3: debt that I owed, but I didn't know my options,

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Speaker 3: I didn't know who to call. I didn't feel comfortable

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Speaker 3: asking for it. You know, it's a whole stigma around

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Speaker 3: asking for help. So when I got the call, I

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Speaker 3: just wanted the problem to go away. So I just

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Speaker 3: paid whatever they told me to pay, And till this day,

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Speaker 3: I can't even tell you if that actually came off

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Speaker 3: my credit, if I actually saw anything from it. I

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Speaker 3: just made the payment.

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Speaker 1: So yeah, I mean, in that situation, it is super stressful.

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Speaker 1: First of all, that sounds really that sounds like harassment.

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Speaker 1: It sounds illegal. And Natalia, what would you say to

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Speaker 1: someone today if they were getting those types of calls

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Speaker 1: and didn't know what to do, if you could like

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Speaker 1: be a magician and like you know, Genie in a

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Speaker 1: bottle poof show up in front of them, what would

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Speaker 1: you tell them if they're on the.

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Speaker 2: Phone with absolutely illegal, especially today. It may not have

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Speaker 2: been when when Dasha was getting those phone calls, but

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Speaker 2: the FDCPA is an act that passed that actually protects

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Speaker 2: consumers against threatening phone calls from collectors. Specifically, you can't

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Speaker 2: call during certain times so they can't call you at

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Speaker 2: midnight anymore. They can't show up at your house there.

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Speaker 2: I actually heard some really threatening stories from some of

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Speaker 2: our clients in the past as well, So they're really

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Speaker 2: good rules in place to make sure that harassment doesn't occur,

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Speaker 2: and if it is, know that it's illegal and that

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Speaker 2: there is an act to protect against it. And I

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Speaker 2: wouldn't pay anything. Like Daisha said, there's a lot of

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Speaker 2: fraud and scams going on these days. I would verify

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Speaker 2: that that dead is even yours and that it's a

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Speaker 2: reputable company that's trying to collect from you in the

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Speaker 2: first place.

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Speaker 1: Okay, so many things there. So two things, what are

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Speaker 1: some signs it's a fraud? And two I want to

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Speaker 1: talk about how do you actually go about that debt verification?

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Speaker 1: Because I know the textbook way of doing that that

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Speaker 1: CFPB has on their website, but I'm just curious in reality,

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Speaker 1: how does it work?

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Speaker 2: Well? Well, so, one, you can always pull your credit

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Speaker 2: record at least once a year. It's always free. I'm

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Speaker 2: not going to vouch for any apps, but there are

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Speaker 2: definitely lots of apps out there that will give you

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Speaker 2: access to your credit information. So one verify that it

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Speaker 2: is your debt and then two, I'd like to call

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Speaker 2: people back. So if I get a phone call from someone,

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Speaker 2: I'm like, okay, well, what's the number where I can

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Speaker 2: call you back? I can't talk right now. You don't

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Speaker 2: have to be really obvious about it, but you also

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Speaker 2: want to make sure that when you call back it

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Speaker 2: is actually that company. You can look up their website

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Speaker 2: and usually you'll get some form of written documentation. When

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Speaker 2: there's a creditor, they always mail something. So if you

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Speaker 2: don't have a physical document and the number doesn't quite

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Speaker 2: make sense when you do like a Google look up

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Speaker 2: and it's like someone's Google or voice number, that's not legitimate.

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Speaker 2: People don't collect through Facebook Messenger either, right, It's usually

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Speaker 2: a phone call or an actual letter. So be aware

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Speaker 2: of people sending email saying I'm collecting on this debt.

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Speaker 2: That's generally not accurate either.

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Speaker 1: Or a text message yeah.

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Speaker 2: Or a text message. Don't click any.

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Speaker 1: Links even in your text now, okay, So now the

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Speaker 1: debt verification that doesn't have to be a formal process.

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Speaker 1: It literally is just like, does this debt sound like

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Speaker 1: it's yours? And you can just check that by going

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Speaker 1: to yeah, like using a credit report app. You know,

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Speaker 1: going to Annual Report Annual credit Report dot com and

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Speaker 1: downloading all three of your credit reports for free, like

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Speaker 1: you said you can do once a year. You know,

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Speaker 1: there's credit karma, there's Equifax, like all these different credit

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Speaker 1: bureaus now and banks themselves. If you don't have a

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Speaker 1: credit report, you're just not trying hard enough because like

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Speaker 1: they're just handing them out on this street corners basically, now, okay,

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Speaker 1: all right, So how do I know I'm in the

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Speaker 1: How do I know it's time? Like I can't manage

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Speaker 1: this and I should ask for help from an organization

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Speaker 1: like National Debt Relief.

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Speaker 2: I love that question because debt relief is not for everyone.

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Speaker 2: I actually like to dispel that where lots of people

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Speaker 2: think that it is. It is for the consumer who

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Speaker 2: is contemplating bankruptcy, but they're not quite there yet. So

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Speaker 2: there's different types of debt relief where maybe if you

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Speaker 2: can still qualify for a loan and your credit score

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Speaker 2: is still where it needs to be, that might be

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Speaker 2: an option for some people. If your credit score is

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Speaker 2: already in danger and you're not going to be able

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Speaker 2: to qualify for a consolidation loan and credit counseling from

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Speaker 2: a long term perspective, you're still paying a full debt.

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Speaker 2: You're still paying interest even though it's reduced. May not

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Speaker 2: be an option for some people. So then the next

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Speaker 2: thing would be debt relief. So that's where you're making

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Speaker 2: your minimums or just above the minimum. It's going to

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Speaker 2: take you thirty forty years to pay off, you know,

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Speaker 2: seventy five hundred dollars in debt because you can barely

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Speaker 2: make those minimums. So our program will basically say, you know,

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Speaker 2: if your minimums are adding up to seven hundred dollars

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Speaker 2: a month, maybe we can get a program payment that's

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Speaker 2: three hundred and fifty dollars a month, so we can

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Speaker 2: work towards settling those debts, and it immediately gives some

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Speaker 2: cash flowback. So it's really a cash flow issue and

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Speaker 2: a long term kind of goal that you have to

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Speaker 2: make for yourself. It's I want to get rid of

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Speaker 2: my unsecure debt versus I want to keep my credit score.

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Speaker 2: Sometimes we aren't concerned about credit. We're concerned about getting

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Speaker 2: people out of debt right, and then you can rebuild

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Speaker 2: credit faster than you can with bankruptcy. So that's ultimately

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Speaker 2: the goal and the consumer that we like to work with.

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Speaker 1: So those are like the Big three. I guess four

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Speaker 1: you have sort of like debt consolidation, like a DII

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Speaker 1: debt consolidation. So like in my experience, you can if

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Speaker 1: you have good credit, you can leverage that and get

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Speaker 1: like a fixed rate personal loan, you know that you

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Speaker 1: can use to pay off some debt, and then you

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Speaker 1: have one payment versus how three or four however many

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Speaker 1: no credit cards you've paid off, that's an option. Then

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Speaker 1: you have credit counseling. So credit counseling. Can you describe

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Speaker 1: that for me, because I'm not even sure if I

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Speaker 1: can tell the difference between credit counseling and like debt relief.

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Speaker 2: So credit counseling, you're still paying full balance, right, So

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Speaker 2: what credit counseling does. It says, we'll still give you

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Speaker 2: a one type of payment, one payment per month. However,

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Speaker 2: you're still going to pay interest, So we'll take your

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Speaker 2: interest from the twenty something percent that you had. Maybe

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Speaker 2: we'll give you ten percent, whatever deal that they can

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Speaker 2: get with your creditors. So if you all ten thousand,

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Speaker 2: you're still paying ten thousand plus interests and that will

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Speaker 2: take however much time, right, and if you fail out,

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Speaker 2: you miss a payment, there's really negative consequences to that, right,

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Speaker 2: so you actually start right back to where you are.

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Speaker 2: The interest comes back to your accounts, and it's kind

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Speaker 2: of a cycle that you end up starting again. So

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Speaker 2: if someone is looking at credit counseling, you have to

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Speaker 2: be really sure you can make those months payments so

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Speaker 2: that you don't have to stop from the beginning all

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Speaker 2: over again. The difference with debt relief is you we

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Speaker 2: aren't reducing any interest. We are taking that balance when

432
00:22:10,160 --> 00:22:12,479
Speaker 2: you enroll. Let's say it's ten thousand dollars, we are

433
00:22:12,520 --> 00:22:15,680
Speaker 2: looking to reduce that amount to about fifty percent, which

434
00:22:15,680 --> 00:22:18,399
Speaker 2: would be about five thousand dollars. And whether that's a

435
00:22:18,480 --> 00:22:21,359
Speaker 2: lump or over time, that is all you're going to pay.

436
00:22:21,680 --> 00:22:25,439
Speaker 2: Then that account is closed. It is done. Versus you know,

437
00:22:25,680 --> 00:22:28,159
Speaker 2: a longer term situation and credit counseling. So one is

438
00:22:28,160 --> 00:22:29,280
Speaker 2: a little bit faster than the other.

439
00:22:30,080 --> 00:22:31,879
Speaker 1: So even if it's like I have a ten thousand

440
00:22:31,920 --> 00:22:35,840
Speaker 1: dollars credit card balance and maybe it's spread across three cards,

441
00:22:36,480 --> 00:22:40,439
Speaker 1: through debt relief, I could or y'all could negotiate that

442
00:22:40,520 --> 00:22:44,840
Speaker 1: down to like five thousand dollars but there would be

443
00:22:44,840 --> 00:22:48,000
Speaker 1: no interest or that would be like inclusive of any interest,

444
00:22:48,040 --> 00:22:50,520
Speaker 1: Like I wouldn't be that five thousand is not going

445
00:22:50,600 --> 00:22:52,960
Speaker 1: to go off and like continue growing as I pay

446
00:22:52,960 --> 00:22:56,040
Speaker 1: it down? Right, Interesting, how do you guys manage that?

447
00:22:56,040 --> 00:22:59,600
Speaker 1: What actually happens behind the Wizard of Oz curtain? What

448
00:22:59,680 --> 00:22:59,960
Speaker 1: y'all do?

449
00:23:00,119 --> 00:23:00,640
Speaker 3: It's not working?

450
00:23:02,080 --> 00:23:04,679
Speaker 2: We basically when a client enrolls, that's the balance that

451
00:23:04,720 --> 00:23:06,760
Speaker 2: we work with, right, So there might be interest that

452
00:23:06,840 --> 00:23:09,680
Speaker 2: does accrue, but when we look at that and when

453
00:23:09,680 --> 00:23:12,760
Speaker 2: we give a quote to a consumer, we're basing it

454
00:23:12,760 --> 00:23:15,760
Speaker 2: off the day that they enrolled into our program. So

455
00:23:16,400 --> 00:23:19,399
Speaker 2: when we get a settlement, that's what we aim to do.

456
00:23:19,440 --> 00:23:22,120
Speaker 2: It's a matter of building the relationships with our creditors.

457
00:23:22,440 --> 00:23:25,520
Speaker 2: There's leverage, right. We have hundreds of thousands of clients,

458
00:23:25,600 --> 00:23:27,760
Speaker 2: So we do a lot of work to make sure

459
00:23:27,800 --> 00:23:31,080
Speaker 2: that we can negotiate the best rates for our consumers

460
00:23:31,119 --> 00:23:33,560
Speaker 2: because we actually have leverage for our consumers because there's

461
00:23:33,560 --> 00:23:36,000
Speaker 2: such a big client base that we can work with.

462
00:23:36,840 --> 00:23:39,959
Speaker 1: Interesting, what are some of the biggest clients that you

463
00:23:39,960 --> 00:23:41,000
Speaker 1: guys do work with?

464
00:23:42,359 --> 00:23:44,560
Speaker 2: Do you mean banks or.

465
00:23:44,359 --> 00:23:48,280
Speaker 1: Banks or is it like credit issuers lenders?

466
00:23:48,400 --> 00:23:51,200
Speaker 2: We work with lenders. We work with first party banks,

467
00:23:51,200 --> 00:23:53,840
Speaker 2: we work the debt collection agencies, And there's this thing

468
00:23:53,920 --> 00:23:56,439
Speaker 2: called debt buyers. Those are people that buy debt that

469
00:23:56,480 --> 00:23:58,480
Speaker 2: couldn't be collected on before and it kind of gets

470
00:23:58,640 --> 00:24:01,240
Speaker 2: sold over and over and over again. We work with

471
00:24:01,280 --> 00:24:04,880
Speaker 2: them as well. So anyone who is an issuer or

472
00:24:05,359 --> 00:24:07,400
Speaker 2: is collecting on unsecure debt, we work with them.

473
00:24:08,119 --> 00:24:11,360
Speaker 1: Okay, so because you guys have such a big portfolio,

474
00:24:12,119 --> 00:24:16,320
Speaker 1: I'm Mandy, I enroll in debt relief. Then you can

475
00:24:16,359 --> 00:24:20,639
Speaker 1: say it's are you even like calling up my personal

476
00:24:20,680 --> 00:24:23,600
Speaker 1: creditor and talking about me and my debt? Or is

477
00:24:23,640 --> 00:24:27,119
Speaker 1: it like I'm calling on behalf of the seventy five consumers.

478
00:24:27,160 --> 00:24:29,360
Speaker 1: I have all their information and we want to get

479
00:24:29,359 --> 00:24:31,040
Speaker 1: their debts collectively down.

480
00:24:31,600 --> 00:24:33,960
Speaker 2: It depends on what's best for the consumer. It really

481
00:24:33,960 --> 00:24:38,000
Speaker 2: does depend because each issuer and collector has different rules

482
00:24:38,000 --> 00:24:41,159
Speaker 2: and parameters. So there are definitely times where it's an

483
00:24:41,200 --> 00:24:44,000
Speaker 2: individual like this is the person that I'm helping right now.

484
00:24:44,040 --> 00:24:46,639
Speaker 2: I actually used to be a negotiator. And there are

485
00:24:46,680 --> 00:24:50,680
Speaker 2: other times where a debt buyer, for example, might say, hey,

486
00:24:50,920 --> 00:24:52,760
Speaker 2: we've had this on our books for a really long time.

487
00:24:52,800 --> 00:24:54,439
Speaker 2: We'll give you a really low percentage if you can

488
00:24:54,480 --> 00:24:56,680
Speaker 2: give us at least however many so we'll go through

489
00:24:56,680 --> 00:24:59,400
Speaker 2: our database and try to figure out who can afford

490
00:24:59,840 --> 00:25:02,719
Speaker 2: the kind of you know, fire sales settlements, right, So

491
00:25:02,760 --> 00:25:04,840
Speaker 2: it could be a little bit of both. It just

492
00:25:04,840 --> 00:25:07,840
Speaker 2: depends on what's best for the consumer and what's the

493
00:25:07,880 --> 00:25:10,879
Speaker 2: best timing how much money is available. There's a lot

494
00:25:10,920 --> 00:25:12,360
Speaker 2: of different factors that go into it.

495
00:25:13,160 --> 00:25:16,480
Speaker 1: Are there sometimes, like we've talked about older debts before,

496
00:25:17,080 --> 00:25:20,040
Speaker 1: Are there sometimes, like for either of y'all, where it

497
00:25:20,080 --> 00:25:24,160
Speaker 1: doesn't make sense to like settle older debts because maybe

498
00:25:24,160 --> 00:25:25,919
Speaker 1: they're about to fall off your credit report.

499
00:25:27,320 --> 00:25:32,120
Speaker 2: It depends. Different states have different rules unfortunately, so there

500
00:25:32,160 --> 00:25:35,320
Speaker 2: are states where, yeah, it doesn't make sense. There are

501
00:25:35,320 --> 00:25:37,800
Speaker 2: other states where you know, the statute limitations that I

502
00:25:37,840 --> 00:25:40,439
Speaker 2: think is what you're referring to maybe different. Some places

503
00:25:40,440 --> 00:25:42,840
Speaker 2: a seven years, some places it's three years. So it

504
00:25:42,880 --> 00:25:47,000
Speaker 2: depends on the state, and it depends on when you

505
00:25:47,080 --> 00:25:50,080
Speaker 2: last major payment, when you last made contact. Each state

506
00:25:50,119 --> 00:25:53,040
Speaker 2: has weird rules. So sometimes yes, sometimes now so we

507
00:25:53,320 --> 00:25:55,359
Speaker 2: definitely have a database that kind of tells us what

508
00:25:55,440 --> 00:25:56,560
Speaker 2: it doesn't make sense.

509
00:25:56,720 --> 00:26:00,440
Speaker 1: Got to have like PTSD from putting together a crazy chart.

510
00:26:01,200 --> 00:26:03,119
Speaker 1: When I was managing that content team, I was like,

511
00:26:03,200 --> 00:26:05,000
Speaker 1: let's do a chart, and it's going to be every

512
00:26:05,040 --> 00:26:07,639
Speaker 1: state and every type of consumer debt, and we're going

513
00:26:07,680 --> 00:26:09,760
Speaker 1: to tell you what the stat sheeted limitations are. Can

514
00:26:09,800 --> 00:26:14,560
Speaker 1: you imagine what a pain? So you're in compliance, you know,

515
00:26:14,720 --> 00:26:17,399
Speaker 1: it's like, I see what? So depending like, do you

516
00:26:17,440 --> 00:26:19,720
Speaker 1: work with people in every state across the country?

517
00:26:20,000 --> 00:26:20,840
Speaker 3: Just about?

518
00:26:21,760 --> 00:26:25,199
Speaker 2: So, there's maybe five states that we don't operate in,

519
00:26:25,240 --> 00:26:27,600
Speaker 2: but for the most part, we are in every single state,

520
00:26:27,680 --> 00:26:29,680
Speaker 2: or at least can offer debt really for every single state.

521
00:26:29,760 --> 00:26:32,840
Speaker 1: Yeah, okay, gotcha? All right, Now, how do y'all make money?

522
00:26:33,600 --> 00:26:34,680
Speaker 1: So does a business?

523
00:26:35,200 --> 00:26:38,120
Speaker 2: As a business, we do charge your fee. And I'll say,

524
00:26:38,280 --> 00:26:40,480
Speaker 2: like some people will say, I might jump the question,

525
00:26:40,920 --> 00:26:43,400
Speaker 2: why are you charging your fee? There's free services out there,

526
00:26:43,400 --> 00:26:46,479
Speaker 2: and that's absolutely true, but they can't scale. So in

527
00:26:46,600 --> 00:26:48,720
Speaker 2: order for us to do the work that we're doing

528
00:26:48,760 --> 00:26:51,359
Speaker 2: for as many people as we're doing, we need operating costs.

529
00:26:51,359 --> 00:26:54,120
Speaker 2: So that's where that fee comes in. So that fea set,

530
00:26:54,200 --> 00:26:57,640
Speaker 2: it doesn't fluctuate. It's told upfront and we actually bake

531
00:26:57,720 --> 00:27:00,320
Speaker 2: it into that monthly program payment so that it's not

532
00:27:00,359 --> 00:27:03,640
Speaker 2: an additional cost on top of anything else. We give

533
00:27:03,680 --> 00:27:05,480
Speaker 2: you one quote. We are not going to ask you

534
00:27:05,520 --> 00:27:07,399
Speaker 2: for anything else. We're not going to change fees on you.

535
00:27:08,160 --> 00:27:10,400
Speaker 2: So it can be anywhere between fifteen and twenty five

536
00:27:10,440 --> 00:27:13,840
Speaker 2: percent of the amount that you enrolled, right, So even

537
00:27:13,840 --> 00:27:15,800
Speaker 2: if it increases, we're not charging anymore.

538
00:27:16,880 --> 00:27:20,200
Speaker 1: Okay, does it often increase? Because that's one thing about debtman,

539
00:27:20,359 --> 00:27:22,720
Speaker 1: when you're trying to get sometimes if you don't and

540
00:27:22,800 --> 00:27:25,200
Speaker 1: we'll get to this, get to the heart of the issue,

541
00:27:26,000 --> 00:27:28,959
Speaker 1: you can just be coming back six months later like

542
00:27:29,080 --> 00:27:30,280
Speaker 1: I got some more debt.

543
00:27:32,160 --> 00:27:36,359
Speaker 2: How Yeah, it happens. Well, reporting on credit reports it's

544
00:27:36,400 --> 00:27:39,479
Speaker 2: not always accurate, right, Sometimes there are things that are

545
00:27:39,520 --> 00:27:41,639
Speaker 2: not reporting that pop up later that we'll add to

546
00:27:41,680 --> 00:27:45,160
Speaker 2: the program for our consumers. There are other times when

547
00:27:46,880 --> 00:27:49,520
Speaker 2: it actually happened to me when I bought my first

548
00:27:49,560 --> 00:27:54,040
Speaker 2: like furniture set, and I didn't understand that that zero

549
00:27:54,160 --> 00:27:57,480
Speaker 2: percent interest for twenty four months and then it all

550
00:27:57,520 --> 00:27:59,359
Speaker 2: hit me at once. So I got myself into a

551
00:27:59,400 --> 00:28:01,200
Speaker 2: little bit of child And that will happen as well.

552
00:28:01,280 --> 00:28:05,120
Speaker 2: So those promotional kind of debts that people think are

553
00:28:05,200 --> 00:28:07,160
Speaker 2: really great and then you get hit with a bunch

554
00:28:07,160 --> 00:28:08,960
Speaker 2: of ventures all at once, and that balance kind of

555
00:28:09,000 --> 00:28:13,399
Speaker 2: doubles overnight. That happens as well. And then, to be

556
00:28:13,520 --> 00:28:17,080
Speaker 2: quite honest, people can find themselves in desperate situations and

557
00:28:17,160 --> 00:28:19,320
Speaker 2: may may need to swipe that card while they're in

558
00:28:19,359 --> 00:28:22,000
Speaker 2: the program, and it happened to be still open because

559
00:28:22,000 --> 00:28:24,840
Speaker 2: they blew a tire and they couldn't afford that emergency.

560
00:28:25,240 --> 00:28:27,399
Speaker 2: So there are a bunch of different reasons why it

561
00:28:27,480 --> 00:28:29,800
Speaker 2: might increase, But we tend to just work with each

562
00:28:29,800 --> 00:28:32,399
Speaker 2: individual consumer and have those conversations depending on what the

563
00:28:32,440 --> 00:28:33,119
Speaker 2: situation is.

564
00:28:33,920 --> 00:28:36,919
Speaker 1: Yeah, that was something that I had that was like

565
00:28:36,960 --> 00:28:39,600
Speaker 1: an idea that I had about about debt really from before,

566
00:28:39,720 --> 00:28:42,360
Speaker 1: is that you have to close get your accounts closed,

567
00:28:42,400 --> 00:28:44,080
Speaker 1: like you can no longer use them. Is that the

568
00:28:44,120 --> 00:28:45,959
Speaker 1: case you really? Sometimes?

569
00:28:46,840 --> 00:28:48,680
Speaker 2: But again I like, I'm not going to present like

570
00:28:48,720 --> 00:28:49,680
Speaker 2: life does not happen.

571
00:28:50,560 --> 00:28:54,920
Speaker 1: Yeah, but you actively close the accounts, they're potentially still

572
00:28:54,920 --> 00:28:55,400
Speaker 1: out there.

573
00:28:55,640 --> 00:28:58,320
Speaker 2: They're potentially still out there, and the creditors will eventually

574
00:28:58,320 --> 00:29:00,520
Speaker 2: close them as they pass too.

575
00:29:01,240 --> 00:29:03,680
Speaker 1: I mean I opened what I opened a zero balance, Sorry,

576
00:29:03,720 --> 00:29:06,440
Speaker 1: I have zero percent interest credit card. I don't know.

577
00:29:06,440 --> 00:29:08,560
Speaker 1: A couple of years ago, I think it was when

578
00:29:08,600 --> 00:29:10,720
Speaker 1: we were buying like furniture or something like that or

579
00:29:10,720 --> 00:29:13,960
Speaker 1: some kind of big purchase paid it off and then

580
00:29:14,040 --> 00:29:15,280
Speaker 1: I was like, well, I'll just keep the line of

581
00:29:15,280 --> 00:29:16,880
Speaker 1: credit open, and the bank was like, no, you can't

582
00:29:16,920 --> 00:29:18,400
Speaker 1: have that. We close in it.

583
00:29:18,920 --> 00:29:21,680
Speaker 2: They just took making a decisions whenever they feel like it.

584
00:29:21,800 --> 00:29:23,680
Speaker 2: That's the other thing. Read the fine print when you

585
00:29:23,720 --> 00:29:26,600
Speaker 2: open up credit cards too, because they do reserve the

586
00:29:26,680 --> 00:29:30,120
Speaker 2: right to reduce your credit limits, which sometimes, yes, puts

587
00:29:30,160 --> 00:29:32,000
Speaker 2: people in a lot of trouble, especially if they were

588
00:29:32,000 --> 00:29:33,320
Speaker 2: carrying a balance.

589
00:29:33,920 --> 00:29:35,880
Speaker 1: Yeah, or like you know, that's such a huge part

590
00:29:35,880 --> 00:29:39,120
Speaker 1: of your credit score is your available balance versus how

591
00:29:39,200 --> 00:29:42,000
Speaker 1: much debt you're carrying. And it may look really cute

592
00:29:42,440 --> 00:29:44,400
Speaker 1: when you have a lot of available credit, and so

593
00:29:44,440 --> 00:29:47,280
Speaker 1: when they reduce your credit limit, now it's like, oh shoot,

594
00:29:47,320 --> 00:29:50,680
Speaker 1: maybe you did have a twenty percent utilization rate and

595
00:29:50,720 --> 00:29:53,080
Speaker 1: now it's like fifty percent, and you may see your

596
00:29:53,120 --> 00:29:57,120
Speaker 1: score go down and not even know why, you know,

597
00:29:59,000 --> 00:30:02,960
Speaker 1: Is there anything else people should know about debt relief

598
00:30:03,480 --> 00:30:06,520
Speaker 1: or any pros and cons that you want to cover

599
00:30:06,600 --> 00:30:08,920
Speaker 1: before we take a little break and come back and

600
00:30:08,960 --> 00:30:11,959
Speaker 1: talk about general debt tips and how to get out

601
00:30:12,000 --> 00:30:12,320
Speaker 1: of debt.

602
00:30:12,920 --> 00:30:16,440
Speaker 2: Sure, I encourage people to do their research. I like

603
00:30:16,480 --> 00:30:18,960
Speaker 2: to say that people look at Amazon reviews before they

604
00:30:18,960 --> 00:30:21,880
Speaker 2: buy something more than when they are looking for their

605
00:30:21,920 --> 00:30:26,200
Speaker 2: financial products. So be just as diligent. Don't take my

606
00:30:26,240 --> 00:30:28,960
Speaker 2: word for it, don't take Dash's word for or even Mandy's, like,

607
00:30:29,160 --> 00:30:32,000
Speaker 2: do your research. Look at the BBB, look at CFPB,

608
00:30:32,560 --> 00:30:34,840
Speaker 2: go to the review site, see what other consumers have

609
00:30:34,920 --> 00:30:37,360
Speaker 2: to say, because, like you said, there's a community of

610
00:30:37,400 --> 00:30:40,520
Speaker 2: people that have already experienced this and they can actually

611
00:30:40,560 --> 00:30:43,800
Speaker 2: speak more truth and be more credible when it comes

612
00:30:43,840 --> 00:30:46,040
Speaker 2: to what to look for. And just make sure that

613
00:30:46,080 --> 00:30:49,600
Speaker 2: these are accredited companies, even if it's not national debt. Really,

614
00:30:49,760 --> 00:30:52,800
Speaker 2: just make sure you work with an accredited and reputable company.

615
00:30:53,400 --> 00:30:56,760
Speaker 1: Okay, accredited? Okay? Oh and I know what I forgot

616
00:30:56,760 --> 00:30:59,280
Speaker 1: to ask about bankruptcy. You mentioned bankruptcy. So like if

617
00:30:59,280 --> 00:31:01,800
Speaker 1: you said, of your someone who's considering bankruptcy but you

618
00:31:01,800 --> 00:31:04,800
Speaker 1: haven't filed yet, debt relief may be a step before that.

619
00:31:04,880 --> 00:31:08,720
Speaker 1: Why is that in particular, because with bankruptcy there's a potential,

620
00:31:09,200 --> 00:31:12,440
Speaker 1: depending on which version of it that you file, where

621
00:31:12,480 --> 00:31:15,160
Speaker 1: you could maybe get a lot of your debts forgiven

622
00:31:15,400 --> 00:31:15,880
Speaker 1: and whole.

623
00:31:17,280 --> 00:31:21,400
Speaker 2: Yeah. So the truth of bankruptcy is there's an upfront

624
00:31:21,440 --> 00:31:25,760
Speaker 2: cost to bankruptcy and that can be a small amount

625
00:31:25,800 --> 00:31:27,960
Speaker 2: anywhere to a very large amount, depending on the type

626
00:31:27,960 --> 00:31:30,760
Speaker 2: of attorney that you acquire. Right, A lot of people

627
00:31:30,800 --> 00:31:33,600
Speaker 2: will always right. Not people don't always have that out

628
00:31:33,640 --> 00:31:36,440
Speaker 2: of pocket expense upfront. So that's one hurdle to clear.

629
00:31:36,800 --> 00:31:38,800
Speaker 2: The second hurdle to clear is even if you pay

630
00:31:38,800 --> 00:31:41,400
Speaker 2: that fee, there is no guarantee that you will qualify

631
00:31:41,440 --> 00:31:44,040
Speaker 2: for bankruptcy. So, like you said that, there's two. There's

632
00:31:44,120 --> 00:31:47,880
Speaker 2: one that is really evasive, where every asset that you

633
00:31:47,960 --> 00:31:51,040
Speaker 2: might have may be taken away to put towards your

634
00:31:51,080 --> 00:31:53,760
Speaker 2: debt if you even qualify for that. That's basically what

635
00:31:53,800 --> 00:31:56,800
Speaker 2: they call a clean slate. But it's not. It's very painful.

636
00:31:56,880 --> 00:31:57,000
Speaker 3: Right.

637
00:31:57,040 --> 00:31:59,680
Speaker 2: If you own anything, whether it's a diamond ring, a

638
00:31:59,680 --> 00:32:03,760
Speaker 2: wat home, a car, it is up for someone else

639
00:32:03,760 --> 00:32:05,480
Speaker 2: to determine whether or not it's going to be sold

640
00:32:05,520 --> 00:32:07,840
Speaker 2: to pay off your debt, and you have no say.

641
00:32:08,520 --> 00:32:12,160
Speaker 2: The other version is a payment plan, where again a

642
00:32:12,160 --> 00:32:14,600
Speaker 2: lot of people will fail out of that payment plan.

643
00:32:15,440 --> 00:32:17,560
Speaker 2: You paid it up to the front attorney, you get

644
00:32:17,560 --> 00:32:21,760
Speaker 2: a payment plan, you miss a payment, you start all

645
00:32:21,800 --> 00:32:24,080
Speaker 2: over again. You failed out of bankruptcy, so now you're

646
00:32:24,120 --> 00:32:26,080
Speaker 2: at square one. If you want to try to file again,

647
00:32:26,360 --> 00:32:29,800
Speaker 2: you pay those fees again. So I like to say,

648
00:32:29,920 --> 00:32:33,400
Speaker 2: try debt relief before you go to bankruptcy because the repercussions.

649
00:32:33,760 --> 00:32:36,760
Speaker 2: Even if you are successful bankruptcy to rebuild your credit,

650
00:32:36,880 --> 00:32:38,719
Speaker 2: it's seven to ten years that you're going to have

651
00:32:38,760 --> 00:32:42,160
Speaker 2: that stain on your report. So what are your long

652
00:32:42,240 --> 00:32:43,760
Speaker 2: term goals? If you're trying to buy a home in

653
00:32:43,800 --> 00:32:46,440
Speaker 2: ten years, bankruptcy is probably not the best. But if

654
00:32:46,440 --> 00:32:48,040
Speaker 2: you do debt relief, you could be out of debt

655
00:32:48,160 --> 00:32:51,440
Speaker 2: within twelve, twelve to forty eight months, start rebuilding your

656
00:32:51,440 --> 00:32:53,920
Speaker 2: credit much sooner, and put yourself on a path to

657
00:32:54,080 --> 00:32:56,800
Speaker 2: home ownership or whatever your other financial goals are.

658
00:32:58,040 --> 00:33:00,440
Speaker 1: Yeah, it sounds like there's so many, Like I mean,

659
00:33:00,480 --> 00:33:02,800
Speaker 1: it doesn't sound like there. It's one of those trickiest

660
00:33:02,880 --> 00:33:05,480
Speaker 1: The trickiest things is which option is best for me.

661
00:33:05,680 --> 00:33:09,920
Speaker 1: It's so nuanced and any of these options may be

662
00:33:10,000 --> 00:33:13,120
Speaker 1: right for you. So like credit counseling, debt settlement, you know,

663
00:33:13,960 --> 00:33:19,360
Speaker 1: filing bankruptcy, even just floating out with debt consolidation, loans

664
00:33:19,680 --> 00:33:22,760
Speaker 1: or whatever. These are all just like different options that

665
00:33:22,840 --> 00:33:25,760
Speaker 1: I'm hoping by having this conversation, we're opening Yell's minds

666
00:33:25,800 --> 00:33:29,040
Speaker 1: up to it. However, I think it's going to be

667
00:33:29,080 --> 00:33:33,200
Speaker 1: a very personal choice and net so if someone calls

668
00:33:33,280 --> 00:33:36,400
Speaker 1: National Debt Relief, they don't have to. There's no pressure

669
00:33:36,480 --> 00:33:38,440
Speaker 1: to like get a plan today, right, but it can

670
00:33:38,480 --> 00:33:40,760
Speaker 1: be one of the steps they take toward figuring out

671
00:33:40,760 --> 00:33:42,360
Speaker 1: if it is a good fit for me.

672
00:33:42,760 --> 00:33:46,440
Speaker 2: Yeah, it's absolutely a free consultation and we actually do

673
00:33:46,520 --> 00:33:49,480
Speaker 2: discuss all the options and give you that information. And

674
00:33:49,680 --> 00:33:52,160
Speaker 2: it's up to the consumer decide if what option is

675
00:33:52,200 --> 00:33:54,040
Speaker 2: best for them, but we do provide all that information

676
00:33:54,120 --> 00:33:55,120
Speaker 2: having Oh I love.

677
00:33:54,960 --> 00:33:58,440
Speaker 1: That, Okay, yeah, because you know, sometimes it's like if

678
00:33:58,440 --> 00:34:01,760
Speaker 1: you go into a restaurant and you see the menu

679
00:34:01,840 --> 00:34:04,080
Speaker 1: and you're like, I don't like any of this stuff.

680
00:34:04,320 --> 00:34:06,240
Speaker 1: It's so hard to like go I don't know if

681
00:34:06,240 --> 00:34:09,440
Speaker 1: you have that, Like someone listening is like, oh, no,

682
00:34:09,480 --> 00:34:12,400
Speaker 1: you're just giving me a secondhand anxiety. But having to

683
00:34:12,400 --> 00:34:14,200
Speaker 1: get up and be like, I'm so sorry, I don't

684
00:34:14,239 --> 00:34:17,840
Speaker 1: want this kind of food and leaving can be Have

685
00:34:17,920 --> 00:34:18,359
Speaker 1: you done that?

686
00:34:18,640 --> 00:34:19,000
Speaker 2: I have?

687
00:34:19,280 --> 00:34:21,360
Speaker 1: Seeh I love that, But you're a negotiation queen like me,

688
00:34:21,440 --> 00:34:25,040
Speaker 1: so great. All right, so let's take a little break

689
00:34:25,160 --> 00:34:27,520
Speaker 1: and when we come back, I'm going to get Dasha

690
00:34:27,560 --> 00:34:29,680
Speaker 1: in the hot seat because miss broke black Girl, you

691
00:34:29,719 --> 00:34:32,880
Speaker 1: need to help us not be broken anymore. Okay, please

692
00:34:33,719 --> 00:34:39,399
Speaker 1: get us reach a right you're Abauba fan. All right,

693
00:34:39,480 --> 00:34:42,560
Speaker 1: I am back with my guests, with our company. We

694
00:34:42,640 --> 00:34:46,239
Speaker 1: got Dasha Kennedy, the broke Black Girl, and we have

695
00:34:46,400 --> 00:34:49,879
Speaker 1: Natalia Brown of the National Debt Relief What is it

696
00:34:50,080 --> 00:34:51,960
Speaker 1: the National Debt Relief? What or my message?

697
00:34:52,719 --> 00:34:53,000
Speaker 2: Relief?

698
00:34:53,680 --> 00:34:58,960
Speaker 1: National Debt Relief? Yay in the studio. So, oh my god.

699
00:34:58,960 --> 00:35:01,239
Speaker 1: I mean, we've been talking about debt, y'all, and it's

700
00:35:01,280 --> 00:35:04,760
Speaker 1: been a little uncomfy, but I'm already starting to feel

701
00:35:04,760 --> 00:35:07,560
Speaker 1: personally a little bit better and at least like let's

702
00:35:07,600 --> 00:35:10,480
Speaker 1: kick off some conversations. You know, as we've always said,

703
00:35:10,960 --> 00:35:13,040
Speaker 1: when it comes to financial advice, you want to get

704
00:35:13,080 --> 00:35:17,439
Speaker 1: it from a personal, personal source, someone who knows your

705
00:35:17,600 --> 00:35:21,480
Speaker 1: unique situation. So all of this content, all this conversation

706
00:35:21,600 --> 00:35:24,000
Speaker 1: is just for educational purposes, y'all. We're trying to help,

707
00:35:24,040 --> 00:35:27,719
Speaker 1: trying to give y'all some questions, to ask, some ideas,

708
00:35:27,840 --> 00:35:31,680
Speaker 1: just so that you can actually start tackling the debt

709
00:35:31,760 --> 00:35:34,640
Speaker 1: that you may be carrying. That is, like I said,

710
00:35:34,760 --> 00:35:39,480
Speaker 1: keeping snatching your sleep away from you. Right, Okay, So Dasha,

711
00:35:39,640 --> 00:35:44,719
Speaker 1: talk to me about what happens when you're staring at

712
00:35:44,840 --> 00:35:47,719
Speaker 1: a bunch of debt. And we've talked about some solutions

713
00:35:47,719 --> 00:35:49,840
Speaker 1: to like getting rid of the debt, but how do

714
00:35:49,920 --> 00:35:53,280
Speaker 1: we get to the underlying what usually is happening underneath

715
00:35:53,280 --> 00:35:55,640
Speaker 1: that debt that is causing it? And how do we

716
00:35:55,760 --> 00:35:58,320
Speaker 1: like nip that in the bud so it doesn't happen again.

717
00:35:58,360 --> 00:35:59,880
Speaker 1: And you can't tell me I have to give up

718
00:35:59,880 --> 00:36:02,640
Speaker 1: my children because I know they are the source of

719
00:36:02,640 --> 00:36:07,120
Speaker 1: my financials dream but I love them. What do we do?

720
00:36:08,080 --> 00:36:10,560
Speaker 3: I think the first thing that's really important is for

721
00:36:10,640 --> 00:36:14,520
Speaker 3: us to understand that this being dead or dealing with

722
00:36:14,560 --> 00:36:17,680
Speaker 3: debt is something that we all go through. It's just

723
00:36:17,920 --> 00:36:21,080
Speaker 3: one piece of our personal finance journey. And I think

724
00:36:21,120 --> 00:36:25,120
Speaker 3: when we humanize that, it makes dealing with this so

725
00:36:25,280 --> 00:36:29,560
Speaker 3: much easier. When we realize, like, okay, debt is a tool.

726
00:36:29,840 --> 00:36:32,640
Speaker 3: It doesn't define who I am. I don't have to

727
00:36:32,680 --> 00:36:37,960
Speaker 3: feel bad or guilty or shamed because I've landed in debt.

728
00:36:38,040 --> 00:36:40,239
Speaker 3: So I think when you were first looking at all

729
00:36:40,280 --> 00:36:42,200
Speaker 3: of your dead looking at all of your numbers. That's

730
00:36:42,239 --> 00:36:45,800
Speaker 3: the first thing to realize, Like, I'm not a bad person.

731
00:36:46,440 --> 00:36:50,160
Speaker 3: This, this is fixable. I can't come out of this, And

732
00:36:50,200 --> 00:36:53,719
Speaker 3: so I think it's first important to just recognize that

733
00:36:53,800 --> 00:36:57,000
Speaker 3: when you are sitting in front of all of the notices,

734
00:36:57,160 --> 00:37:02,120
Speaker 3: the phone calls, the voice messages, recognizing that this may

735
00:37:02,160 --> 00:37:07,080
Speaker 3: be a bad or uncomfortable situation, but it doesn't make

736
00:37:07,160 --> 00:37:10,000
Speaker 3: me a bad person, and this can be fixed.

737
00:37:12,120 --> 00:37:14,840
Speaker 1: And what is it usually? Like, I mean, is it

738
00:37:14,880 --> 00:37:18,200
Speaker 1: as simple as you're Like, let's say it's a classic

739
00:37:18,280 --> 00:37:24,239
Speaker 1: situation where you're just not making enough to meet your expenses,

740
00:37:24,600 --> 00:37:28,160
Speaker 1: Like how does that? How does And especially if you're

741
00:37:28,200 --> 00:37:31,239
Speaker 1: someone who used to have more than enough, but like

742
00:37:31,320 --> 00:37:35,560
Speaker 1: your expenses have increased and you may not feel comfortable

743
00:37:35,880 --> 00:37:38,400
Speaker 1: like with the idea of budgeting and like having to

744
00:37:38,400 --> 00:37:40,640
Speaker 1: figure out something different, Like what's your advice to someone

745
00:37:40,640 --> 00:37:43,319
Speaker 1: who's maybe not so used to that, and like to

746
00:37:43,360 --> 00:37:45,759
Speaker 1: get them to actually start looking at their budget and

747
00:37:45,920 --> 00:37:49,840
Speaker 1: what they can trim or what they can add or

748
00:37:49,880 --> 00:37:53,280
Speaker 1: take away so that they can actually start chiseling away,

749
00:37:53,360 --> 00:37:54,759
Speaker 1: chipping away at that debt.

750
00:37:54,960 --> 00:37:57,799
Speaker 3: Yes, I think that what's most important is to take

751
00:37:57,840 --> 00:38:01,120
Speaker 3: out the assumption, take out guess work. A lot of

752
00:38:01,160 --> 00:38:03,040
Speaker 3: times when we are trying to figure out what we

753
00:38:03,120 --> 00:38:06,080
Speaker 3: have going on with that, we're usually guessing like, oh,

754
00:38:06,160 --> 00:38:08,719
Speaker 3: I think I owe this amount, I think I have

755
00:38:08,880 --> 00:38:11,279
Speaker 3: this much money coming in. So the first thing is

756
00:38:11,320 --> 00:38:15,040
Speaker 3: to remove all of the guessing and actually sit down

757
00:38:15,239 --> 00:38:18,280
Speaker 3: and create a list of all the desks that you owe,

758
00:38:18,400 --> 00:38:21,319
Speaker 3: the balances, who you owe, how much you owe them,

759
00:38:21,680 --> 00:38:25,120
Speaker 3: your other expenses that you have going on each month.

760
00:38:25,160 --> 00:38:28,680
Speaker 3: And I know that that sounds so redundant.

761
00:38:28,200 --> 00:38:30,320
Speaker 1: Because terrible that yes.

762
00:38:30,320 --> 00:38:33,239
Speaker 3: Yes, and we hear it a lot, and it's like

763
00:38:33,320 --> 00:38:37,680
Speaker 3: one of the most repetitive pieces of personal financial advice,

764
00:38:37,880 --> 00:38:40,479
Speaker 3: but it's because it's the most honest thing. The only

765
00:38:40,520 --> 00:38:42,960
Speaker 3: way that you're going to figure out where program is

766
00:38:43,000 --> 00:38:44,840
Speaker 3: going to be best for you, what your next step

767
00:38:44,920 --> 00:38:47,959
Speaker 3: is going to be, is to actually know exactly what

768
00:38:48,440 --> 00:38:50,320
Speaker 3: is going on. And I tell people all the time,

769
00:38:50,560 --> 00:38:53,120
Speaker 3: you only have to do this once. You only have

770
00:38:53,200 --> 00:38:57,680
Speaker 3: to push through this uncomfortable feeling one time, making the list,

771
00:38:58,040 --> 00:39:01,200
Speaker 3: creating the you know, gathering the numbers and all the information.

772
00:39:01,480 --> 00:39:03,839
Speaker 3: You only have to do that one time. So I

773
00:39:03,880 --> 00:39:04,680
Speaker 3: think it.

774
00:39:05,680 --> 00:39:07,600
Speaker 1: You can do it one time, and then you just

775
00:39:07,640 --> 00:39:11,120
Speaker 1: like stress about it and then you look away, and

776
00:39:11,120 --> 00:39:13,000
Speaker 1: then you go about your life and then you're like,

777
00:39:13,040 --> 00:39:14,520
Speaker 1: maybe we should get that spreadsheet.

778
00:39:15,560 --> 00:39:21,160
Speaker 3: Yes, you get you can't just can't stop there. Because

779
00:39:21,200 --> 00:39:24,080
Speaker 3: what I like to think too is like, Okay, i

780
00:39:24,160 --> 00:39:28,560
Speaker 3: can let this hover over my head, and when I'm

781
00:39:28,600 --> 00:39:30,880
Speaker 3: out trying to have a good time, I'm thinking about

782
00:39:30,920 --> 00:39:33,160
Speaker 3: how much credit card that I got. When I'm out

783
00:39:33,200 --> 00:39:35,719
Speaker 3: at my son's football game, I'm thinking about how much

784
00:39:35,719 --> 00:39:38,759
Speaker 3: credit card that I got. Or I can't create the

785
00:39:38,800 --> 00:39:42,479
Speaker 3: plan that one time, and I can create the plan,

786
00:39:42,600 --> 00:39:47,000
Speaker 3: create the list, know everything that's going on, start working

787
00:39:47,120 --> 00:39:49,200
Speaker 3: towards getting rid of it. And then when I'm out

788
00:39:49,239 --> 00:39:52,759
Speaker 3: and I'm living my regular life, this isn't hovering over me.

789
00:39:53,000 --> 00:39:55,800
Speaker 3: So it is uncomfortable, it's not easy, and it's not fun.

790
00:39:55,840 --> 00:39:58,160
Speaker 3: But you only have to do the hardport once.

791
00:40:00,280 --> 00:40:02,440
Speaker 1: I don't know about just once. It's not like you

792
00:40:02,520 --> 00:40:04,480
Speaker 1: someone still got to pay it off, right, and it's

793
00:40:05,360 --> 00:40:07,480
Speaker 1: all right? I got my list and now what Dasha,

794
00:40:07,719 --> 00:40:09,560
Speaker 1: Now what do I do with it? Now? It's like

795
00:40:09,680 --> 00:40:13,400
Speaker 1: all these different due dates and minimum payment amounts and

796
00:40:13,480 --> 00:40:16,719
Speaker 1: maybe there's some zero percent stuff that's going to expire soon,

797
00:40:16,840 --> 00:40:20,440
Speaker 1: so you gotta know what to do with that. What next?

798
00:40:21,360 --> 00:40:23,720
Speaker 3: I think the next step will definitely be to figure

799
00:40:23,760 --> 00:40:26,440
Speaker 3: out what your plan of action is. What's going to

800
00:40:26,440 --> 00:40:29,239
Speaker 3: be your plan to start paying off some of the debt,

801
00:40:29,320 --> 00:40:32,200
Speaker 3: to start chipping away at it. And so again, when

802
00:40:32,239 --> 00:40:35,400
Speaker 3: we have these conversations and we talk about debt management

803
00:40:35,480 --> 00:40:39,040
Speaker 3: or debt repayment, there's normally two things that always come up,

804
00:40:39,080 --> 00:40:43,480
Speaker 3: and it is the avalanche and snowball method. So I

805
00:40:43,560 --> 00:40:47,440
Speaker 3: always feel yes, yes, So for me, if anyone is

806
00:40:47,440 --> 00:40:50,600
Speaker 3: familiar with my content, I am the queen of chipping

807
00:40:50,640 --> 00:40:54,360
Speaker 3: away at things in small increments. Why because it is

808
00:40:54,400 --> 00:40:58,080
Speaker 3: the motivation that sells me this. Having a bunch of

809
00:40:58,120 --> 00:41:01,480
Speaker 3: debt hovering up your heads, that's not always motivating, that's

810
00:41:01,520 --> 00:41:04,480
Speaker 3: not always exciting. But if I can find a way

811
00:41:04,480 --> 00:41:07,200
Speaker 3: to chip away at this in small incremation or just

812
00:41:07,280 --> 00:41:10,480
Speaker 3: make small changes, that gives me something to look forward

813
00:41:10,480 --> 00:41:14,600
Speaker 3: to each day. So that takes away being scared of

814
00:41:14,800 --> 00:41:18,319
Speaker 3: the boogeyman of the large number. So now I can

815
00:41:18,400 --> 00:41:21,360
Speaker 3: chip away at this in small doses, and it's motivating,

816
00:41:21,480 --> 00:41:24,600
Speaker 3: it's encouraging, it's something that you want to keep.

817
00:41:24,360 --> 00:41:27,400
Speaker 1: Doing so in your book, which is going to be

818
00:41:27,400 --> 00:41:30,840
Speaker 1: coming out in March twenty twenty five, so just a

819
00:41:30,880 --> 00:41:34,080
Speaker 1: few months from now. In your book, is there a

820
00:41:34,160 --> 00:41:36,040
Speaker 1: chapter on debt or more than one chapter?

821
00:41:36,400 --> 00:41:36,520
Speaker 2: Oh?

822
00:41:36,640 --> 00:41:37,400
Speaker 3: Yes, absolutely?

823
00:41:37,400 --> 00:41:39,799
Speaker 1: Okay, So is it the snowball the avalanche? What kind

824
00:41:39,800 --> 00:41:42,000
Speaker 1: of method do you like? What's working for your followers?

825
00:41:42,440 --> 00:41:46,600
Speaker 3: So for me, it is the snowball method, but it's

826
00:41:46,760 --> 00:41:50,040
Speaker 3: like it's it's with a twist. So it's the snowball

827
00:41:50,080 --> 00:41:53,440
Speaker 3: method because what I've seen work the best is it

828
00:41:53,560 --> 00:41:57,000
Speaker 3: being a motivating factor to getting out of debt. When

829
00:41:57,000 --> 00:41:58,600
Speaker 3: we are dealing with and so now we're going to

830
00:41:58,680 --> 00:42:02,360
Speaker 3: have a deeper conversation. So when we are having conversations

831
00:42:02,360 --> 00:42:05,680
Speaker 3: to mostly black and brown women, we already know that

832
00:42:06,040 --> 00:42:08,760
Speaker 3: more than likely we're going to run into some income issues.

833
00:42:08,920 --> 00:42:11,960
Speaker 3: We're going to run into women who are probably taking

834
00:42:11,960 --> 00:42:17,160
Speaker 3: on the brunch of the financial responsibilities of the household.

835
00:42:17,200 --> 00:42:20,240
Speaker 3: I see this a lot in my community. So sometimes

836
00:42:20,280 --> 00:42:23,520
Speaker 3: it's discouraging to say you have to pay X amount

837
00:42:23,600 --> 00:42:27,640
Speaker 3: of dollars one hundred dollars or more towards a debt.

838
00:42:27,840 --> 00:42:30,800
Speaker 3: Immediately I'm going to think about how much my quality

839
00:42:30,840 --> 00:42:34,720
Speaker 3: of life that I'm already probably scraping by is going

840
00:42:34,760 --> 00:42:37,279
Speaker 3: to change. But if someone tells me I can chip

841
00:42:37,280 --> 00:42:40,400
Speaker 3: away at this in twenty five dollars increments and slowly

842
00:42:40,440 --> 00:42:43,840
Speaker 3: but surely increase that by ten dollars every week. Doesn't

843
00:42:43,880 --> 00:42:45,919
Speaker 3: sound like much. Now we have a good thing going,

844
00:42:46,000 --> 00:42:48,960
Speaker 3: We have a good habit established, we have a good

845
00:42:49,080 --> 00:42:51,960
Speaker 3: and we have a few good program not programs, but

846
00:42:52,080 --> 00:42:54,839
Speaker 3: patterns set up. Now we have changed it to where

847
00:42:54,880 --> 00:42:57,480
Speaker 3: now it's more motivated and I'm more excited to do

848
00:42:57,520 --> 00:43:00,719
Speaker 3: this while also not having to take away from a

849
00:43:00,760 --> 00:43:03,640
Speaker 3: pot that's probably already empty when I first started.

850
00:43:04,560 --> 00:43:07,239
Speaker 1: Yeah, so the debt snowball break it down for us.

851
00:43:07,320 --> 00:43:09,759
Speaker 1: It's been a minute, but I know, be a fan yea.

852
00:43:09,840 --> 00:43:12,239
Speaker 1: But listen to this show something else and writing since

853
00:43:12,280 --> 00:43:14,520
Speaker 1: the beginning. We're about to do our tenth year. Can

854
00:43:14,600 --> 00:43:18,040
Speaker 1: y'all believe that? Gradulu? This is Yeah? Well, thank you.

855
00:43:18,320 --> 00:43:22,040
Speaker 1: I'm very excited. But also I feel like an old

856
00:43:22,160 --> 00:43:25,560
Speaker 1: krusty like you mentioned some of the old personal finance advice.

857
00:43:26,080 --> 00:43:30,640
Speaker 1: It is so it is like broken record because that's

858
00:43:30,880 --> 00:43:33,759
Speaker 1: it's like, it is what it is. It's money, you

859
00:43:33,840 --> 00:43:35,479
Speaker 1: got it, you don't. The math is math and math.

860
00:43:35,960 --> 00:43:39,720
Speaker 1: But at the same time, like we these these concept

861
00:43:39,760 --> 00:43:43,839
Speaker 1: of snowball methods, zero sum budgeting, debt avalanche, like I've

862
00:43:43,880 --> 00:43:46,360
Speaker 1: heard about them, but like, let's reintroduce it, make it fresh,

863
00:43:46,400 --> 00:43:48,360
Speaker 1: make it new. So talk about the snowball because you

864
00:43:48,400 --> 00:43:50,960
Speaker 1: said you like that one, and there's actually a study

865
00:43:51,000 --> 00:43:53,359
Speaker 1: that shows that the snowball is the most effective. Right,

866
00:43:53,440 --> 00:43:56,560
Speaker 1: it may not save like the most overall because of

867
00:43:56,600 --> 00:43:58,720
Speaker 1: the of the difference in how you structure your debts,

868
00:43:59,239 --> 00:44:02,240
Speaker 1: but it has that like it has that like you said,

869
00:44:02,440 --> 00:44:08,320
Speaker 1: that has this, like this this flywheel of I'm getting

870
00:44:08,320 --> 00:44:10,359
Speaker 1: something done a little bit at a time, I'm seeing

871
00:44:10,400 --> 00:44:13,279
Speaker 1: the balances go down. That can get addicting and can

872
00:44:13,480 --> 00:44:16,200
Speaker 1: make sure that you stay motivated. So break it down

873
00:44:16,200 --> 00:44:16,760
Speaker 1: for a station.

874
00:44:16,880 --> 00:44:19,319
Speaker 3: Yes, so when we think about the snowball method, it

875
00:44:19,360 --> 00:44:23,359
Speaker 3: really is you focusing on the smallest balance first and

876
00:44:23,400 --> 00:44:25,840
Speaker 3: you're paying that off and then you use that amount

877
00:44:25,960 --> 00:44:28,440
Speaker 3: to pay towards your next debt and so on and

878
00:44:28,480 --> 00:44:30,560
Speaker 3: so on. So think of just like a snowball rolling

879
00:44:30,600 --> 00:44:32,719
Speaker 3: down the hill. It starts off small, but as it

880
00:44:32,760 --> 00:44:35,200
Speaker 3: goes down the hill, it picks up momentum to eventually

881
00:44:35,239 --> 00:44:38,680
Speaker 3: you have a lot of money a lumpsum more huge

882
00:44:38,760 --> 00:44:42,440
Speaker 3: ball that you can apply to your last debt at

883
00:44:42,440 --> 00:44:45,200
Speaker 3: the end of the snowball methic. So the beauty here

884
00:44:45,320 --> 00:44:48,160
Speaker 3: is that when you were done now, that is a

885
00:44:48,239 --> 00:44:51,400
Speaker 3: lump sum of money that you can either save, invest

886
00:44:51,719 --> 00:44:54,080
Speaker 3: or put back into your quality of life on a

887
00:44:54,120 --> 00:44:57,640
Speaker 3: monthly basis, because you have already gotten used to living

888
00:44:58,120 --> 00:45:02,000
Speaker 3: without that piece of money. And so I like that

889
00:45:02,160 --> 00:45:06,120
Speaker 3: a lot because granted it may not save you the

890
00:45:06,160 --> 00:45:09,080
Speaker 3: most money in the long run, but I don't like

891
00:45:09,160 --> 00:45:13,600
Speaker 3: to look at things dollar by dollar because doing the

892
00:45:13,680 --> 00:45:17,040
Speaker 3: avalanche method. Let's say I save a lot of money

893
00:45:17,080 --> 00:45:19,920
Speaker 3: doing that, but what would I have paid for it?

894
00:45:20,000 --> 00:45:23,840
Speaker 3: Really mentally, emotionally, I would have paid for that somewhere

895
00:45:23,880 --> 00:45:26,600
Speaker 3: else that I'm probably not willing to pay their.

896
00:45:26,480 --> 00:45:27,040
Speaker 2: Cost for that.

897
00:45:27,200 --> 00:45:30,600
Speaker 1: And the aidvalanches where you do it from interest rates. Yes,

898
00:45:30,880 --> 00:45:33,480
Speaker 1: so like you're paying down it makes sense. It's like

899
00:45:34,040 --> 00:45:38,200
Speaker 1: the most expensive debt goes first, and it's like order

900
00:45:38,280 --> 00:45:40,960
Speaker 1: it by your APRS, by whatever you're paying an interest.

901
00:45:42,560 --> 00:45:45,279
Speaker 1: But some of that most expensive debt it can take

902
00:45:45,400 --> 00:45:48,719
Speaker 1: longer to pay down. Right, Yes, it may not be

903
00:45:48,760 --> 00:45:51,800
Speaker 1: the smallest balance, and so that can get demotivating.

904
00:45:52,320 --> 00:45:55,920
Speaker 3: Is that what you're saying, Yes and the smallest balance

905
00:45:56,160 --> 00:45:59,759
Speaker 3: is extremely motivating, it's encouraging, it's picking up momentum. Use

906
00:45:59,760 --> 00:46:02,200
Speaker 3: sources to feel good about yourself, because we just talked

907
00:46:02,200 --> 00:46:04,799
Speaker 3: about that early and dealing with debt can be isolating.

908
00:46:05,080 --> 00:46:07,880
Speaker 3: You feel a lot of guilt, shame, and anxiety. So

909
00:46:07,920 --> 00:46:10,319
Speaker 3: now when you finally finally have a good thing going

910
00:46:10,360 --> 00:46:13,200
Speaker 3: and you're chipping away at these balances, now you're excited,

911
00:46:13,400 --> 00:46:15,600
Speaker 3: you know, about doing this. You're excited to see what

912
00:46:15,680 --> 00:46:17,759
Speaker 3: the end is going to look like. That's why I

913
00:46:17,800 --> 00:46:18,920
Speaker 3: love that one the most.

914
00:46:19,560 --> 00:46:27,759
Speaker 1: I'm going to feel excited. Yes, yes, I know, be

915
00:46:27,880 --> 00:46:30,120
Speaker 1: a famous like Nandy. Tell us how much debt you

916
00:46:30,280 --> 00:46:31,080
Speaker 1: actually have?

917
00:46:31,360 --> 00:46:33,600
Speaker 2: Girl? Yeah?

918
00:46:33,960 --> 00:46:35,319
Speaker 1: Well, let me just tell you. One thing that me

919
00:46:35,360 --> 00:46:37,080
Speaker 1: and day should know is that when you get a

920
00:46:37,120 --> 00:46:39,879
Speaker 1: book advance, it looks really pretty, but they don't give

921
00:46:39,920 --> 00:46:42,359
Speaker 1: it to you all at once. Yeah, and then you

922
00:46:42,440 --> 00:46:45,160
Speaker 1: can't work while you're writing that book. So where does

923
00:46:45,160 --> 00:46:47,840
Speaker 1: that money come from? Where does that money come from?

924
00:46:48,600 --> 00:46:49,360
Speaker 3: That is true?

925
00:46:49,760 --> 00:46:50,360
Speaker 2: That girl?

926
00:46:51,480 --> 00:46:53,320
Speaker 1: How have you been doing it while running your business

927
00:46:53,320 --> 00:46:55,160
Speaker 1: at the same time, Day Show, what am I doing wrong?

928
00:46:56,040 --> 00:46:58,719
Speaker 3: It's been a challenge. I'm not going to lie. It's

929
00:46:58,800 --> 00:47:03,400
Speaker 3: really been a challenge because I had to dedicate eighteen

930
00:47:03,440 --> 00:47:08,560
Speaker 3: months solely to my book while also still working to

931
00:47:08,600 --> 00:47:12,160
Speaker 3: a certain extent and being a mom. So even just

932
00:47:13,120 --> 00:47:15,560
Speaker 3: for the topic of debt, I can see how when

933
00:47:15,600 --> 00:47:19,000
Speaker 3: life changes, I can see how sometimes it's easy to

934
00:47:19,600 --> 00:47:21,960
Speaker 3: want to rely, you know, on credit course, or to

935
00:47:22,040 --> 00:47:25,719
Speaker 3: find ourselves in spaces making decisions that we probably would

936
00:47:25,760 --> 00:47:28,080
Speaker 3: not have made before. That's why I think it's so

937
00:47:28,120 --> 00:47:31,600
Speaker 3: important to humanize a conversation about debt to where it

938
00:47:31,680 --> 00:47:35,359
Speaker 3: doesn't define you as a person. It more than likely

939
00:47:35,560 --> 00:47:38,680
Speaker 3: just defines a part of your life, but you can

940
00:47:38,719 --> 00:47:39,360
Speaker 3: grow past that.

941
00:47:41,120 --> 00:47:44,440
Speaker 1: Yeah. For me, it's also like it's a little bit

942
00:47:44,480 --> 00:47:50,200
Speaker 1: of toxic hope, okay, because I'm not gonna lie. Over

943
00:47:50,200 --> 00:47:52,200
Speaker 1: the course of my career, I've always been such a

944
00:47:52,200 --> 00:47:55,360
Speaker 1: good negotiator, and I've been able to get like wind

945
00:47:55,400 --> 00:47:57,759
Speaker 1: falls here and wind falls there that I may have

946
00:47:57,920 --> 00:48:00,799
Speaker 1: had some bad habits of like oh, were spending over

947
00:48:00,840 --> 00:48:03,880
Speaker 1: the years, but they were always there was always something

948
00:48:04,040 --> 00:48:06,239
Speaker 1: that came through that was like here you go, and

949
00:48:06,280 --> 00:48:10,319
Speaker 1: it's like it never happened. But in twenty twenty three,

950
00:48:10,560 --> 00:48:14,759
Speaker 1: woo woo, it was so hard and it's like, Okay,

951
00:48:14,960 --> 00:48:16,920
Speaker 1: it's time to like put your big girl panties on.

952
00:48:17,560 --> 00:48:20,200
Speaker 1: And I wonder, like even for me, I have a

953
00:48:20,280 --> 00:48:23,879
Speaker 1: husband and he's looking over at me, like you got

954
00:48:23,880 --> 00:48:27,840
Speaker 1: this because I usually do you know, I don't know

955
00:48:27,880 --> 00:48:30,279
Speaker 1: if y'all have do y'all have partners and like or

956
00:48:30,320 --> 00:48:32,800
Speaker 1: do you have any tips for people who are in relationships?

957
00:48:32,800 --> 00:48:35,799
Speaker 1: And it really does take to to tango into debt

958
00:48:35,840 --> 00:48:39,120
Speaker 1: and to tango out of it, and sometimes that communication

959
00:48:40,000 --> 00:48:41,640
Speaker 1: is so so hard to do.

960
00:48:43,120 --> 00:48:44,400
Speaker 2: I think we both have stories.

961
00:48:47,120 --> 00:48:49,920
Speaker 1: Your story net well, I was girls.

962
00:48:50,680 --> 00:48:54,480
Speaker 2: I was in a situation where I did not have

963
00:48:54,800 --> 00:48:58,000
Speaker 2: as much help right so it I was the personalization

964
00:48:58,160 --> 00:49:00,640
Speaker 2: was speaking about I've been the kind of the breadwinner

965
00:49:01,360 --> 00:49:04,239
Speaker 2: in my household and right now as a single mom

966
00:49:04,280 --> 00:49:07,719
Speaker 2: with two boys, it's just me. So I know you're

967
00:49:07,719 --> 00:49:10,200
Speaker 2: talking about partnership, but I also include my kids. I

968
00:49:10,280 --> 00:49:13,560
Speaker 2: think it's super important because mine are going to be

969
00:49:13,640 --> 00:49:18,360
Speaker 2: nineteen in December and twelve. They understand what we have financially,

970
00:49:18,440 --> 00:49:21,399
Speaker 2: what we don't have financially, what our goals are as

971
00:49:21,400 --> 00:49:23,720
Speaker 2: a family, right because I don't want them to squander

972
00:49:23,719 --> 00:49:26,920
Speaker 2: any hard work that I've done over these years. So

973
00:49:27,239 --> 00:49:31,640
Speaker 2: they have a better understanding of at their age than

974
00:49:31,640 --> 00:49:32,160
Speaker 2: what I did.

975
00:49:32,280 --> 00:49:32,440
Speaker 3: Right.

976
00:49:32,480 --> 00:49:36,600
Speaker 2: So I'm a child of immigrants that came to America

977
00:49:36,640 --> 00:49:40,600
Speaker 2: didn't necessarily understand the financial landscape. So I just think

978
00:49:40,600 --> 00:49:43,279
Speaker 2: it's super super super important to not just talk to

979
00:49:43,320 --> 00:49:45,839
Speaker 2: your partner about money and what your financial goals are.

980
00:49:46,040 --> 00:49:49,719
Speaker 2: It's also like it's a whole family thing. It's understanding

981
00:49:49,800 --> 00:49:52,560
Speaker 2: taking the kids shopping and understanding, well, that's not on sale.

982
00:49:53,120 --> 00:49:56,320
Speaker 2: That's not on sale, so hard to see how the

983
00:49:56,400 --> 00:50:00,719
Speaker 2: light for that, right, And it's like just teaching good

984
00:50:00,719 --> 00:50:03,359
Speaker 2: money habits as much as possible because I think it's

985
00:50:03,400 --> 00:50:06,600
Speaker 2: a whole family situation, so that you know, debt can

986
00:50:06,640 --> 00:50:10,760
Speaker 2: be preventable. But it's also when there is debt, everybody

987
00:50:10,840 --> 00:50:13,399
Speaker 2: understands what it is. Right, So especially you know after

988
00:50:13,440 --> 00:50:16,400
Speaker 2: the holidays, don't overspend, right, Like have that real conversation

989
00:50:16,520 --> 00:50:18,640
Speaker 2: like what do you love the most? Experiences? I think

990
00:50:18,680 --> 00:50:22,040
Speaker 2: are the most important things versus things. So I mean

991
00:50:22,080 --> 00:50:23,880
Speaker 2: there's some real hard to have.

992
00:50:24,480 --> 00:50:26,880
Speaker 1: Yeah, they really are. And then when I have I

993
00:50:26,880 --> 00:50:28,520
Speaker 1: have two little babies. I mean I have a four

994
00:50:28,600 --> 00:50:31,200
Speaker 1: year old and a well five year old and a

995
00:50:31,200 --> 00:50:33,920
Speaker 1: one year old, and the past two years it hasn't

996
00:50:33,960 --> 00:50:36,920
Speaker 1: been so much about it. Well, it's all about their experiences.

997
00:50:36,960 --> 00:50:41,400
Speaker 1: And you know one thing, the child early childhood entertainment

998
00:50:41,440 --> 00:50:46,120
Speaker 1: industry is just booming because there's it's like all the

999
00:50:46,200 --> 00:50:49,799
Speaker 1: solutions to entertain your children cost money, you know what

1000
00:50:49,800 --> 00:50:52,080
Speaker 1: I mean. Everyone's like, well, just get a babysitter and

1001
00:50:52,120 --> 00:50:54,960
Speaker 1: just get you know, have them stay extra daycare and

1002
00:50:55,080 --> 00:50:57,120
Speaker 1: aftercare and this and that and the third. And I'm like,

1003
00:50:57,480 --> 00:50:59,919
Speaker 1: or go to the trampoline park on a rainy day,

1004
00:51:00,120 --> 00:51:01,920
Speaker 1: or go to the museum. I'm like, bro, when you're

1005
00:51:01,920 --> 00:51:05,479
Speaker 1: paying for a family afore that shit adds up. It's

1006
00:51:05,800 --> 00:51:10,040
Speaker 1: wild birthday parties, my god, do our gifts for everybody

1007
00:51:10,040 --> 00:51:13,880
Speaker 1: in their class like it is? Ugh? I could seriously,

1008
00:51:13,920 --> 00:51:14,440
Speaker 1: I could.

1009
00:51:14,200 --> 00:51:16,120
Speaker 2: Go on, but I don't think it's funny because they

1010
00:51:16,120 --> 00:51:19,080
Speaker 2: always play with the box. Instead, we did all that

1011
00:51:19,840 --> 00:51:20,359
Speaker 2: and let.

1012
00:51:20,239 --> 00:51:23,319
Speaker 1: There be some tissues in it. Like literally, my son

1013
00:51:23,400 --> 00:51:25,759
Speaker 1: played all day with a piece of foam that came

1014
00:51:25,800 --> 00:51:29,799
Speaker 1: inside of this cute little bookcase that I built for him. Yeah,

1015
00:51:29,840 --> 00:51:31,840
Speaker 1: he didn't care for that, but the piece of foam

1016
00:51:32,480 --> 00:51:36,400
Speaker 1: shaped like a shield of a night. He's very into

1017
00:51:36,480 --> 00:51:38,920
Speaker 1: in a piece of foam that was like his little lightsaber.

1018
00:51:39,239 --> 00:51:41,760
Speaker 2: That's what he imagination is everything it is.

1019
00:51:41,800 --> 00:51:45,160
Speaker 1: It really is. But God, single motherhood. I mean I

1020
00:51:45,200 --> 00:51:47,080
Speaker 1: was raised by a single mom. My heart really goes

1021
00:51:47,080 --> 00:51:49,840
Speaker 1: out to you, Nat, And oh we were some brady

1022
00:51:49,920 --> 00:51:51,759
Speaker 1: kids too. I hope your kids are much more well

1023
00:51:51,800 --> 00:51:58,040
Speaker 1: behaved they are, Sasha, what about you partnered? Like you know,

1024
00:51:58,320 --> 00:52:01,839
Speaker 1: relationship finances with your kids? Like, how are you working

1025
00:52:01,880 --> 00:52:02,080
Speaker 1: all that?

1026
00:52:02,160 --> 00:52:04,920
Speaker 3: In? No, so I am divorced. I've been divorced. It's

1027
00:52:04,920 --> 00:52:07,600
Speaker 3: probably going on about a decade. So I'm raising my

1028
00:52:07,600 --> 00:52:08,840
Speaker 3: two boys by myself.

1029
00:52:08,960 --> 00:52:11,040
Speaker 1: You've lived so many lives.

1030
00:52:10,600 --> 00:52:11,680
Speaker 3: Yes, oh I have.

1031
00:52:11,960 --> 00:52:13,759
Speaker 2: I have so many.

1032
00:52:14,520 --> 00:52:17,279
Speaker 3: I have sixteen year old and twelve year olds, and

1033
00:52:17,320 --> 00:52:20,400
Speaker 3: it's really the same with Nat. I involve them a

1034
00:52:20,440 --> 00:52:23,879
Speaker 3: lot in the finances. I can say my twelve year

1035
00:52:23,880 --> 00:52:26,960
Speaker 3: old does not care about nothing that I say. He

1036
00:52:27,080 --> 00:52:29,480
Speaker 3: don't care about a budget, he don't care about a

1037
00:52:29,560 --> 00:52:32,839
Speaker 3: credit card paying, he does not care. Like he's at

1038
00:52:32,840 --> 00:52:36,239
Speaker 3: the age where it's like it's not computing to him.

1039
00:52:36,239 --> 00:52:38,279
Speaker 3: It's like you want say, he doesn't understand why he

1040
00:52:38,320 --> 00:52:41,000
Speaker 3: can't get like he's not a brad or anything, but

1041
00:52:41,120 --> 00:52:45,520
Speaker 3: he just can't put two and two together. He still

1042
00:52:45,560 --> 00:52:48,440
Speaker 3: thinks like, oh, if you swipe a card, if you

1043
00:52:48,520 --> 00:52:51,040
Speaker 3: have the card and you swipe it, it should work.

1044
00:52:51,120 --> 00:52:54,640
Speaker 3: So we're like working through like getting him to really

1045
00:52:54,719 --> 00:52:57,560
Speaker 3: understand how it goes. But I evolved them a lot,

1046
00:52:57,600 --> 00:53:00,520
Speaker 3: just like Nat in all of the financial discs decisions.

1047
00:53:01,000 --> 00:53:03,000
Speaker 3: It was important for me to sit them down so

1048
00:53:03,080 --> 00:53:05,480
Speaker 3: that they can see me pay our rent, they can

1049
00:53:05,520 --> 00:53:08,840
Speaker 3: see me pay our carnoes, so they can actually see

1050
00:53:09,000 --> 00:53:11,800
Speaker 3: what those numbers look like like. It's not as simple

1051
00:53:11,840 --> 00:53:15,160
Speaker 3: as just swiping a card and it's done. One of

1052
00:53:15,200 --> 00:53:18,919
Speaker 3: the best things that I have love navigating with them

1053
00:53:19,360 --> 00:53:23,160
Speaker 3: is unpaid labor in the household. I wanted to introduce

1054
00:53:23,200 --> 00:53:26,200
Speaker 3: my voice to that as early as possible, and we

1055
00:53:26,239 --> 00:53:29,520
Speaker 3: talk about that a lot, like if when you're eating

1056
00:53:29,760 --> 00:53:32,759
Speaker 3: someone is cooking just because you're not seeing it get

1057
00:53:32,840 --> 00:53:35,960
Speaker 3: done like someone is doing it. And I started that with, Hey,

1058
00:53:36,000 --> 00:53:39,359
Speaker 3: if you're walking past the liundry room and it's overflowing

1059
00:53:39,560 --> 00:53:43,000
Speaker 3: with your clothes on a Monday, and then Tuesday, all

1060
00:53:43,000 --> 00:53:47,520
Speaker 3: of those clothes are washed. Someone did that. So you know,

1061
00:53:47,640 --> 00:53:50,239
Speaker 3: I talked to them a lot about unpaid labor, how

1062
00:53:50,280 --> 00:53:52,400
Speaker 3: it means for us all to play a part in

1063
00:53:52,480 --> 00:53:55,080
Speaker 3: the household because they are older. If they were much younger,

1064
00:53:55,080 --> 00:53:57,440
Speaker 3: the conversation would be different. But they are older boys.

1065
00:53:57,560 --> 00:53:59,800
Speaker 3: So I talked to them about that a lot. But

1066
00:53:59,840 --> 00:54:03,279
Speaker 3: it is important to involve them in all working aspects

1067
00:54:03,640 --> 00:54:07,120
Speaker 3: of money, especially in the household, because they're they're boys.

1068
00:54:07,120 --> 00:54:09,399
Speaker 3: They're going to go out in the world. They're going

1069
00:54:09,440 --> 00:54:11,520
Speaker 3: to know possibly one day get married.

1070
00:54:11,680 --> 00:54:17,160
Speaker 1: I don't yes, I feel like I always ready.

1071
00:54:19,200 --> 00:54:22,920
Speaker 3: I always tell myself, like, I'm doing this for your

1072
00:54:23,040 --> 00:54:26,480
Speaker 3: wife from my daughter in law. That's that's like my mindset,

1073
00:54:26,560 --> 00:54:28,719
Speaker 3: like I want to make sure she is in the

1074
00:54:28,719 --> 00:54:32,160
Speaker 3: best position possible because I've done everything that I can

1075
00:54:32,480 --> 00:54:34,719
Speaker 3: for you while you're my care.

1076
00:54:34,800 --> 00:54:37,440
Speaker 1: The partners that come before, the way or the husband

1077
00:54:37,560 --> 00:54:41,319
Speaker 1: or whatever, your your your, your pronoun of choice. I'm

1078
00:54:41,360 --> 00:54:43,200
Speaker 1: gonna go ahead and put this book on blast again.

1079
00:54:43,280 --> 00:54:48,520
Speaker 1: Boy mom, read y'all, Reimagining Boyhood in the Age of

1080
00:54:48,560 --> 00:54:51,719
Speaker 1: Impossible Masculinity. Library. You'll get the book back when I'm

1081
00:54:51,719 --> 00:54:55,719
Speaker 1: done with it. Okay, weeks since has been I don't know,

1082
00:54:56,400 --> 00:55:00,000
Speaker 1: Oh my gosh, all right, So, Dasha, Queen of Small

1083
00:55:00,080 --> 00:55:04,879
Speaker 1: all steps. This is a new year, and I've heard

1084
00:55:04,960 --> 00:55:06,960
Speaker 1: one step, which to me is not so small, but

1085
00:55:07,000 --> 00:55:08,640
Speaker 1: it is a big step. It is sitting down and

1086
00:55:08,680 --> 00:55:12,959
Speaker 1: getting your information in one place. And that includes every

1087
00:55:12,960 --> 00:55:18,880
Speaker 1: credit card balance, every every bill that you have coming,

1088
00:55:19,560 --> 00:55:24,440
Speaker 1: every expense down on paper spreadsheet. Mint is gone. What

1089
00:55:24,480 --> 00:55:27,040
Speaker 1: are the girls using? Now? I have in Power. That's

1090
00:55:27,080 --> 00:55:31,000
Speaker 1: the app that I use too. Oh nice, formerly known

1091
00:55:31,000 --> 00:55:34,680
Speaker 1: as Personal Capital. Yeah yeah, what about you, Dasha.

1092
00:55:34,640 --> 00:55:37,440
Speaker 3: I still use a spreasheet. I am an ex sale girl,

1093
00:55:37,560 --> 00:55:40,200
Speaker 3: through and through asheets. Yep.

1094
00:55:40,560 --> 00:55:43,680
Speaker 1: I just love that you say exhale. It's such ah.

1095
00:55:44,080 --> 00:55:46,840
Speaker 1: The Saint Louis accent. It should be studied. It's amazing,

1096
00:55:47,400 --> 00:55:49,160
Speaker 1: all right, I love it. Okay, So we have our

1097
00:55:49,239 --> 00:55:51,560
Speaker 1: numbers down and now we are sweating, and it's like

1098
00:55:51,560 --> 00:55:53,359
Speaker 1: can I afford a bottle of wine because I need

1099
00:55:53,400 --> 00:55:55,799
Speaker 1: some wine? Or it's like get an edible, like get

1100
00:55:55,840 --> 00:55:57,680
Speaker 1: your little gummy. I might get a gummy from the

1101
00:55:57,719 --> 00:56:00,520
Speaker 1: closet and just sit down and just like kids are

1102
00:56:00,520 --> 00:56:03,279
Speaker 1: in bed, and just let the relaxation national debt relief.

1103
00:56:03,320 --> 00:56:05,440
Speaker 1: Don't shake your head, No, you don't endorse that, okay,

1104
00:56:07,400 --> 00:56:13,400
Speaker 1: get you in trouble, yeah yeah, just whatever it takes

1105
00:56:13,680 --> 00:56:17,040
Speaker 1: self soothing, all right, And then I am working on

1106
00:56:17,640 --> 00:56:22,600
Speaker 1: ordering them from smallest balance to highest. Now I don't

1107
00:56:22,640 --> 00:56:26,200
Speaker 1: have tons of patients for trimming expenses. I need what

1108
00:56:26,280 --> 00:56:27,920
Speaker 1: I need. You know what I mean, and I can

1109
00:56:28,040 --> 00:56:28,800
Speaker 1: justify anything.

1110
00:56:28,800 --> 00:56:29,040
Speaker 3: For me.

1111
00:56:29,080 --> 00:56:31,600
Speaker 1: It's always about more money. How do I get bring

1112
00:56:31,600 --> 00:56:33,920
Speaker 1: more in? That is the solution in a lot of ways.

1113
00:56:35,320 --> 00:56:39,320
Speaker 1: So looking for additional sources of income, whether that's increasing

1114
00:56:39,360 --> 00:56:42,439
Speaker 1: your rates if you are freelancing, asking for a raise

1115
00:56:42,480 --> 00:56:46,200
Speaker 1: obviously at work, quitting and getting a better offer somewhere else,

1116
00:56:46,400 --> 00:56:48,720
Speaker 1: as I coach women to do all of the time.

1117
00:56:49,160 --> 00:56:53,640
Speaker 1: But bringing in extra money is always nice. But then

1118
00:56:54,280 --> 00:56:56,440
Speaker 1: what are some baby steps from there? Like when it

1119
00:56:56,480 --> 00:57:00,440
Speaker 1: comes to just like chiseling that down are you talking about, Dasha.

1120
00:57:00,680 --> 00:57:03,880
Speaker 1: I've seen on Instagram you'll post these like savings challenges

1121
00:57:03,920 --> 00:57:07,320
Speaker 1: and it's like day one, two dollars, day three, seven,

1122
00:57:07,360 --> 00:57:09,839
Speaker 1: and it goes from there. What has worked? What can

1123
00:57:09,880 --> 00:57:10,560
Speaker 1: you see working?

1124
00:57:11,280 --> 00:57:13,760
Speaker 3: I see a lot when I post those says challenges.

1125
00:57:13,840 --> 00:57:17,120
Speaker 3: I get a lot of positive feedback because the amounts

1126
00:57:17,160 --> 00:57:19,640
Speaker 3: are so small that a lot of these people who

1127
00:57:19,720 --> 00:57:23,000
Speaker 3: use them, they don't really miss the money, and it's

1128
00:57:23,040 --> 00:57:26,360
Speaker 3: small and it's increasing and very small increments that they

1129
00:57:26,400 --> 00:57:30,640
Speaker 3: don't realize that they are taking money from their income,

1130
00:57:31,040 --> 00:57:33,240
Speaker 3: putting it to the side, and they don't miss it

1131
00:57:33,280 --> 00:57:35,960
Speaker 3: because it's so small. So I do see that that

1132
00:57:36,120 --> 00:57:39,760
Speaker 3: works a lot too. I see a lot of budgeting

1133
00:57:40,000 --> 00:57:44,320
Speaker 3: that works. I am a huge fan of zero based budgeting.

1134
00:57:44,320 --> 00:57:47,520
Speaker 3: It is the only budgeting method that I recommend because

1135
00:57:47,560 --> 00:57:49,840
Speaker 3: it gives I know it's not the only one that works,

1136
00:57:49,840 --> 00:57:51,840
Speaker 3: but it's the only one that I recommend because you

1137
00:57:51,880 --> 00:57:54,600
Speaker 3: get to give every single dollar that you bring in

1138
00:57:54,840 --> 00:57:57,800
Speaker 3: a job to do keeping your money busy. I'm someone

1139
00:57:57,800 --> 00:57:59,800
Speaker 3: who believes that my money should work just as hard

1140
00:57:59,800 --> 00:58:02,080
Speaker 3: as me. That I should not have any money that's

1141
00:58:02,120 --> 00:58:04,800
Speaker 3: sitting idle. I need to have a plan for it.

1142
00:58:04,840 --> 00:58:06,920
Speaker 3: And just because my money is busy doesn't mean that

1143
00:58:07,000 --> 00:58:09,280
Speaker 3: it's all spent. It is just meaning that it's all

1144
00:58:09,400 --> 00:58:12,320
Speaker 3: accounting accounting for. So if I do come across any

1145
00:58:12,520 --> 00:58:14,800
Speaker 3: extra money, I know that, hey, maybe I can put

1146
00:58:14,800 --> 00:58:17,440
Speaker 3: this towards savings. Maybe I can put this towards that.

1147
00:58:18,320 --> 00:58:20,640
Speaker 3: I think that that is very important. So I see

1148
00:58:20,720 --> 00:58:23,600
Speaker 3: a lot when I share with my audience different ways

1149
00:58:23,640 --> 00:58:28,520
Speaker 3: to do things that are less stressful, small increments, small amounts,

1150
00:58:28,560 --> 00:58:32,960
Speaker 3: Those tend to go over very well because it's less intimidating.

1151
00:58:33,800 --> 00:58:37,080
Speaker 1: So zero based budgeting, I do like that. That's one. Yeah.

1152
00:58:37,120 --> 00:58:39,680
Speaker 1: So zero based budgeting is a method that I've definitely

1153
00:58:39,680 --> 00:58:42,920
Speaker 1: heard of before, and that's where every dollar, even if

1154
00:58:42,920 --> 00:58:45,920
Speaker 1: it's like this twenty dollars is going to go to

1155
00:58:46,240 --> 00:58:48,040
Speaker 1: your four to one K or this twenty dollars is

1156
00:58:48,040 --> 00:58:51,560
Speaker 1: going to go toward your emergency savings, like it has

1157
00:58:51,600 --> 00:58:54,160
Speaker 1: a job. It doesn't just stay in your checking account.

1158
00:58:54,640 --> 00:58:56,520
Speaker 3: Yeah, And I think that that's such a good approach

1159
00:58:56,560 --> 00:58:59,240
Speaker 3: because it's been so many times, especially when I first

1160
00:58:59,280 --> 00:59:02,120
Speaker 3: started out. I'll look at my bank account and I'll say, oh,

1161
00:59:02,160 --> 00:59:04,120
Speaker 3: like I got an interest two hundred dollars, and then

1162
00:59:04,160 --> 00:59:06,440
Speaker 3: I'll spend it. Then I'll realize, oh, I didn't pay

1163
00:59:06,440 --> 00:59:09,600
Speaker 3: a light bal or oh, and so now I'm stuck

1164
00:59:09,680 --> 00:59:12,400
Speaker 3: in a cycle of payday loans, which is exactly how

1165
00:59:12,440 --> 00:59:14,720
Speaker 3: I ended up in debt in the first place, because

1166
00:59:15,000 --> 00:59:17,920
Speaker 3: I wasn't accounting for all of the money that I

1167
00:59:17,960 --> 00:59:20,120
Speaker 3: was bringing in, and so I started to think, like,

1168
00:59:20,320 --> 00:59:22,760
Speaker 3: I'm working hard all week. I don't want my money

1169
00:59:22,920 --> 00:59:26,320
Speaker 3: just lost and sit in idle and waste it. I

1170
00:59:26,400 --> 00:59:28,840
Speaker 3: want to track every single dollar that I bring in.

1171
00:59:29,080 --> 00:59:31,960
Speaker 3: And that's not to micro manage, but you do want

1172
00:59:31,960 --> 00:59:34,680
Speaker 3: to be involved with what's happening with your money, what's

1173
00:59:34,720 --> 00:59:36,080
Speaker 3: coming in and out of your account.

1174
00:59:37,680 --> 00:59:41,400
Speaker 1: Okay, zero, I love zero based budgeting. We're going to

1175
00:59:41,480 --> 00:59:43,520
Speaker 1: post a link so you guys can learn more about that.

1176
00:59:44,400 --> 00:59:46,880
Speaker 1: Not any final tips, any final words.

1177
00:59:48,200 --> 00:59:50,400
Speaker 2: I think this is a great conversation. We could talk

1178
00:59:50,400 --> 00:59:51,160
Speaker 2: about this all day.

1179
00:59:51,240 --> 00:59:54,000
Speaker 1: Actually, no, I think my stress levels are high enough

1180
00:59:54,040 --> 00:59:58,120
Speaker 1: to do at lunch when at lunch Friday were not

1181
00:59:58,160 --> 01:00:02,280
Speaker 1: allowed to talk about any of this. Absolutely that don't

1182
01:00:02,320 --> 01:00:04,520
Speaker 1: even bring don't then.

1183
01:00:06,320 --> 01:00:11,080
Speaker 2: This is our time, Okay, So yeah, all I will

1184
01:00:11,080 --> 01:00:16,080
Speaker 2: say is is just know that having a plan is

1185
01:00:16,120 --> 01:00:18,959
Speaker 2: better than no plan and is never ever too late

1186
01:00:19,400 --> 01:00:21,760
Speaker 2: to really sit down and figure out what the goal is.

1187
01:00:21,840 --> 01:00:25,040
Speaker 2: I like to work backwards, so my motivation comes from

1188
01:00:25,480 --> 01:00:28,280
Speaker 2: I want X by X date, and then I'm going

1189
01:00:28,320 --> 01:00:30,400
Speaker 2: to figure out how I'm going to get there. Excuse me,

1190
01:00:30,480 --> 01:00:32,640
Speaker 2: come hell of high water. That is just how I

1191
01:00:32,680 --> 01:00:35,480
Speaker 2: look at it, right, So that big shiny thing at

1192
01:00:35,480 --> 01:00:37,120
Speaker 2: the end of the road that I really want the most,

1193
01:00:37,160 --> 01:00:39,479
Speaker 2: and it might be an experience, it's something that's true

1194
01:00:39,520 --> 01:00:41,240
Speaker 2: to who I am and genuine to who I am

1195
01:00:41,320 --> 01:00:43,320
Speaker 2: or what I want to provide for my children, and

1196
01:00:43,400 --> 01:00:46,360
Speaker 2: that's what keeps me like really focused on I could

1197
01:00:46,400 --> 01:00:49,040
Speaker 2: buy that bag, but I think I would rather my

1198
01:00:49,120 --> 01:00:50,920
Speaker 2: kids go to any college that they want to without

1199
01:00:50,920 --> 01:00:53,600
Speaker 2: a student loan, right, So, like that's one of my big, big,

1200
01:00:53,640 --> 01:00:57,560
Speaker 2: big things. So it's never too late to start, It's

1201
01:00:57,600 --> 01:01:00,560
Speaker 2: never too late to learn, it's never too late to

1202
01:01:00,600 --> 01:01:03,640
Speaker 2: increase your income. There are people that are getting into

1203
01:01:03,640 --> 01:01:06,880
Speaker 2: acting at like seventy right, So, like there are possibilities everywhere.

1204
01:01:06,960 --> 01:01:10,120
Speaker 2: Y'all are writing books. I'm so proud of y'all. It's

1205
01:01:10,160 --> 01:01:14,479
Speaker 2: like they're the possibility try. So just know that debt

1206
01:01:14,560 --> 01:01:16,560
Speaker 2: is one of those things. It's just another possibility that

1207
01:01:16,600 --> 01:01:17,360
Speaker 2: you can go around.

1208
01:01:18,320 --> 01:01:21,120
Speaker 1: Yeah, some of that optimism, we got it, y'all. All right,

1209
01:01:21,160 --> 01:01:23,280
Speaker 1: ba fam, I want to hear from y'all. Please send

1210
01:01:23,360 --> 01:01:26,360
Speaker 1: us an email, send us a DM on Instagram at

1211
01:01:26,360 --> 01:01:30,360
Speaker 1: Brand Ambition Podcast, Brandambisson Podcast at gmail dot com. I

1212
01:01:30,440 --> 01:01:33,000
Speaker 1: want to know how you felt about this conversation and

1213
01:01:33,040 --> 01:01:34,880
Speaker 1: what are some of the baby steps you were going

1214
01:01:34,920 --> 01:01:36,919
Speaker 1: to take to start tackling this debt because I want

1215
01:01:36,920 --> 01:01:39,640
Speaker 1: to do this Brand Ambition listener survey in six months

1216
01:01:40,160 --> 01:01:43,800
Speaker 1: and I want to see that we are handling business. Okay,

1217
01:01:43,840 --> 01:01:47,160
Speaker 1: we got our Olivia Pope crisis management, white hats on.

1218
01:01:47,760 --> 01:01:49,760
Speaker 1: Let's handle our shit, be a fam Okay, we can

1219
01:01:49,800 --> 01:01:54,560
Speaker 1: get out of this mess twogether. No judgment, no shame,

1220
01:01:55,040 --> 01:01:58,480
Speaker 1: just action. Thank you, Dasha, and thank you Nat for

1221
01:01:58,600 --> 01:02:02,080
Speaker 1: joining from National Debt. Really, Dasha, congrats on the book.

1222
01:02:02,080 --> 01:02:03,800
Speaker 1: We can't wait to get our copy and have you

1223
01:02:03,880 --> 01:02:06,280
Speaker 1: back on the show when it's finally out in the world.

1224
01:02:06,960 --> 01:02:08,200
Speaker 3: Thank you, I'm excited.

1225
01:02:08,800 --> 01:02:10,000
Speaker 1: Thank you both. Take care