1 00:00:00,040 --> 00:00:02,520 Speaker 1: Hey ba fam, let's be real for a second, and 2 00:00:02,600 --> 00:00:04,680 Speaker 1: y'all know I keep it a book. The job market 3 00:00:04,720 --> 00:00:08,119 Speaker 1: in twenty twenty five has been brutal, now not brutal trash, 4 00:00:08,480 --> 00:00:11,920 Speaker 1: especially for women of color. Over three hundred thousand of 5 00:00:12,000 --> 00:00:15,080 Speaker 1: us have disappeared from the workforce this year alone, and 6 00:00:15,200 --> 00:00:20,279 Speaker 1: not by choice, but because of layoffs, disappearing DEI programs, 7 00:00:20,400 --> 00:00:23,920 Speaker 1: and stagnant wages that keep cutting us out of opportunity. 8 00:00:24,000 --> 00:00:28,880 Speaker 1: That's exactly why I created the Mandy Moneymakers Group coaching community. 9 00:00:29,280 --> 00:00:31,720 Speaker 1: It is a coaching community that is built for us 10 00:00:31,880 --> 00:00:35,400 Speaker 1: by us. Inside the community, you'll get group coaching led 11 00:00:35,440 --> 00:00:38,360 Speaker 1: by me, but you also get peer to peer accountability 12 00:00:38,640 --> 00:00:41,519 Speaker 1: with proven tools and resources that can help you do 13 00:00:41,560 --> 00:00:45,239 Speaker 1: what we have always done since rise. If you're interested 14 00:00:45,320 --> 00:00:49,080 Speaker 1: in joining the Mandy money Makers Community, please join us. 15 00:00:49,159 --> 00:00:51,879 Speaker 1: You can find information in the show notes of today's 16 00:00:51,880 --> 00:00:56,520 Speaker 1: episodes or go to mandymoney dot com slash community. That's 17 00:00:56,640 --> 00:01:02,080 Speaker 1: mandyma NDI money dot com slash community. I would love 18 00:01:02,120 --> 00:01:05,959 Speaker 1: to see y'all there. Enrollment is open, so please go 19 00:01:06,040 --> 00:01:11,200 Speaker 1: check out mandymoney dot com slash community today. Hey va fan, 20 00:01:11,360 --> 00:01:14,600 Speaker 1: welcome back to Brown Ambition. It's Mandy Money. I am 21 00:01:14,640 --> 00:01:17,880 Speaker 1: so excited to be bringing back the BAQA. We took 22 00:01:17,880 --> 00:01:20,600 Speaker 1: a couple of weeks off. Y'all had a lot going on, 23 00:01:20,959 --> 00:01:23,120 Speaker 1: and I'm just really happy to be getting back to 24 00:01:23,360 --> 00:01:26,920 Speaker 1: y'all's questions. Remember you can send us your questions at 25 00:01:27,000 --> 00:01:30,800 Speaker 1: Brand Ambition Podcast at gmail dot com, or you can 26 00:01:30,800 --> 00:01:34,240 Speaker 1: slide into my DMS at Brown Ambition Podcast on IG. 27 00:01:34,560 --> 00:01:37,560 Speaker 1: I love getting your voice notes, especially because then we 28 00:01:37,600 --> 00:01:40,280 Speaker 1: can play them for everyone to hear on the show. 29 00:01:40,440 --> 00:01:42,040 Speaker 1: Let us know if you want a pseudonym that can 30 00:01:42,080 --> 00:01:44,240 Speaker 1: be a little fun, little you know, little some sum 31 00:01:44,319 --> 00:01:47,280 Speaker 1: keep yourself private, but still get your answer. In this episode, 32 00:01:47,400 --> 00:01:50,880 Speaker 1: I'm tackling a few incredible questions from listeners past who 33 00:01:50,960 --> 00:01:54,360 Speaker 1: have asked about managing debt as a couple. Listen, I 34 00:01:54,400 --> 00:01:58,440 Speaker 1: know a little some about that navigating military benefits from 35 00:01:58,520 --> 00:02:02,120 Speaker 1: a listener who's about to tell cross country move and 36 00:02:02,160 --> 00:02:05,400 Speaker 1: another listener who wants help figuring out whether high deductible 37 00:02:05,440 --> 00:02:08,560 Speaker 1: health plans are actually worth it. Let me tell y'all, 38 00:02:08,600 --> 00:02:11,840 Speaker 1: these are some real world money dilemmas that don't always 39 00:02:11,840 --> 00:02:14,320 Speaker 1: have simple answers. But I'm doing my best, all right, 40 00:02:14,680 --> 00:02:16,720 Speaker 1: And actually that's a good time to remind y'all that 41 00:02:16,800 --> 00:02:19,600 Speaker 1: whenever it comes to the baqas y'all know, you got 42 00:02:19,639 --> 00:02:21,720 Speaker 1: to take out your salt shaker's good themount because we 43 00:02:21,760 --> 00:02:23,880 Speaker 1: are taking everything that I am saying with a grain 44 00:02:23,960 --> 00:02:27,480 Speaker 1: of salt. I am not your personal financial advisor, investment advisor, 45 00:02:27,480 --> 00:02:30,040 Speaker 1: life coach, coach at all. Hopefully you consider me a 46 00:02:30,080 --> 00:02:33,560 Speaker 1: part of your digital community. But at the same time, 47 00:02:33,840 --> 00:02:36,280 Speaker 1: you've got to reach out to experts who can get 48 00:02:36,280 --> 00:02:39,360 Speaker 1: a full holistic picture of your finances and your life. 49 00:02:39,400 --> 00:02:42,040 Speaker 1: They get really targeted advice. But I'm going to do 50 00:02:42,080 --> 00:02:44,680 Speaker 1: my best as I always do. Thank y'all so much 51 00:02:44,760 --> 00:02:49,000 Speaker 1: for not suing me. I really really appreciate it. All right, 52 00:02:49,080 --> 00:02:51,880 Speaker 1: let's dive into today's show, and as ever, don't forget 53 00:02:51,919 --> 00:02:55,160 Speaker 1: to leave us a review on Apple Podcasts, Spotify, wherever 54 00:02:55,200 --> 00:02:58,040 Speaker 1: you're listening. All right, let's dive on NBA FAM here 55 00:02:58,040 --> 00:03:08,240 Speaker 1: we go. Okay, first question is from Anonymous. Anonymous wants 56 00:03:08,280 --> 00:03:10,880 Speaker 1: to know Mandy, when does it make sense to use 57 00:03:10,919 --> 00:03:14,160 Speaker 1: credit unions. I combined finances with my spouse this year, 58 00:03:14,200 --> 00:03:17,239 Speaker 1: and I'm more bothered when it comes to debt. I'm 59 00:03:17,240 --> 00:03:20,120 Speaker 1: only comfortable carrying my student loan debt, which I've got 60 00:03:20,200 --> 00:03:23,680 Speaker 1: about sixteen thousand dollars of. My partner is also trying 61 00:03:23,720 --> 00:03:27,040 Speaker 1: to pay off about nine thousand dollars of personal consumer 62 00:03:27,120 --> 00:03:31,360 Speaker 1: debt that has skyrocketed since he's been unemployed through the pandemic. 63 00:03:32,080 --> 00:03:35,400 Speaker 1: This year, we've managed to also rack up an additional 64 00:03:35,440 --> 00:03:39,280 Speaker 1: four thousand dollars in credit card debt low interest to 65 00:03:39,360 --> 00:03:43,040 Speaker 1: no interest because we've taken advantage of a zero percent 66 00:03:43,120 --> 00:03:47,840 Speaker 1: financing offer pre tax. This year, will have made about 67 00:03:47,880 --> 00:03:52,280 Speaker 1: eighty five K and my credit score is seven twenty. Okay, 68 00:03:52,320 --> 00:03:53,840 Speaker 1: So you want to know when it makes sense to 69 00:03:53,920 --> 00:03:55,720 Speaker 1: use credit unions, I'm going to have to do a 70 00:03:55,800 --> 00:03:59,200 Speaker 1: little bit of mental gymnastics to figure out specifically what 71 00:03:59,240 --> 00:04:01,200 Speaker 1: you're wanting to do with a credit union. So I'm 72 00:04:01,200 --> 00:04:03,000 Speaker 1: thinking based on the fact that you guys have got 73 00:04:03,040 --> 00:04:05,640 Speaker 1: let me see, da math is easy, Math is fun, 74 00:04:06,080 --> 00:04:08,520 Speaker 1: nine thousand dollars plus four. So you got about thirteen 75 00:04:08,560 --> 00:04:13,320 Speaker 1: thousand dollars of credit card and personal loan debt, and 76 00:04:13,400 --> 00:04:16,000 Speaker 1: you're probably wondering, you know, should we go to a 77 00:04:16,040 --> 00:04:19,360 Speaker 1: credit union and potentially take out like a debt consolidation 78 00:04:19,520 --> 00:04:22,960 Speaker 1: loan that we could use to pay down this consumer 79 00:04:23,120 --> 00:04:25,960 Speaker 1: high interest consumer debt, and then you're just left with 80 00:04:26,080 --> 00:04:29,520 Speaker 1: one loan payment after that. With your credit score seven 81 00:04:29,560 --> 00:04:33,040 Speaker 1: to twenty, you know, you're probably really likely to get 82 00:04:33,080 --> 00:04:36,520 Speaker 1: a pretty decent rate on a debt consolidation loan, and 83 00:04:36,560 --> 00:04:39,480 Speaker 1: a credit union is a perfectly fine place to go 84 00:04:39,640 --> 00:04:42,320 Speaker 1: for that kind of loan. You can also use online 85 00:04:42,400 --> 00:04:44,760 Speaker 1: lenders too, you know, online lenders, because they don't have 86 00:04:45,200 --> 00:04:47,920 Speaker 1: all the expenses of brick and mortar banks, they tend 87 00:04:48,000 --> 00:04:52,320 Speaker 1: to offer lower fees. But my best advice when it 88 00:04:52,320 --> 00:04:55,320 Speaker 1: comes to shopping for debt consolidation loans is to get quotes, 89 00:04:55,640 --> 00:04:58,400 Speaker 1: you know, actually run your numbers, get a quote for 90 00:04:58,440 --> 00:05:00,440 Speaker 1: how much you need, and see who's going to offer 91 00:05:00,520 --> 00:05:03,120 Speaker 1: you the best terms. So your interest rate obviously is 92 00:05:03,200 --> 00:05:06,080 Speaker 1: number one, But are they going to tack on any 93 00:05:06,120 --> 00:05:08,160 Speaker 1: other fees on top of that? You know, are they 94 00:05:08,160 --> 00:05:11,400 Speaker 1: gonna are they going to give you a penalty if 95 00:05:11,440 --> 00:05:13,520 Speaker 1: you prepay your loan, which means you pay it off 96 00:05:13,600 --> 00:05:17,320 Speaker 1: sooner than what your term dictates. So definitely get some 97 00:05:17,600 --> 00:05:20,240 Speaker 1: loan options and lay them out next to each other 98 00:05:20,680 --> 00:05:23,320 Speaker 1: and just make the best decision based on the options 99 00:05:23,360 --> 00:05:27,080 Speaker 1: that you get. Now, listen, what's interesting about your question? 100 00:05:27,160 --> 00:05:30,400 Speaker 1: Is you know. So I hear you're married, your partner's 101 00:05:30,400 --> 00:05:33,279 Speaker 1: got some debt, you've racked up some debt together, but 102 00:05:33,440 --> 00:05:36,640 Speaker 1: you're talking about your credit score, and that tells me 103 00:05:36,720 --> 00:05:39,520 Speaker 1: that you're looking to take on this debt consolidation loan 104 00:05:39,560 --> 00:05:43,040 Speaker 1: potentially on your own. Just be aware that you know, 105 00:05:43,640 --> 00:05:46,400 Speaker 1: whatever happens in your relationship, that loan is going to 106 00:05:46,400 --> 00:05:48,120 Speaker 1: be in your name, so it's going to be your 107 00:05:48,160 --> 00:05:52,440 Speaker 1: responsibility to pay it down. Obviously, your partner can help. 108 00:05:52,440 --> 00:05:54,919 Speaker 1: I hope that he's been able to get work. I 109 00:05:54,960 --> 00:05:58,599 Speaker 1: know you said he was unemployed during the pandemic. I 110 00:05:58,720 --> 00:06:00,680 Speaker 1: hope that. I'm hoping that he's worked again and he 111 00:06:00,720 --> 00:06:04,440 Speaker 1: can help contribute to that consumer debt. But yeah, it 112 00:06:04,480 --> 00:06:06,719 Speaker 1: is going to be ultimately your name on the paperwork, 113 00:06:06,800 --> 00:06:08,719 Speaker 1: So you want to be sure that you can handle 114 00:06:08,760 --> 00:06:12,920 Speaker 1: those payments independently. And I would just aggressively go after 115 00:06:13,000 --> 00:06:15,440 Speaker 1: that credit card debt. You know, you say that you've 116 00:06:15,440 --> 00:06:18,279 Speaker 1: got student loan debt, which is about sixteen K. It's 117 00:06:18,279 --> 00:06:21,239 Speaker 1: not that bad, right, Plus I think at least until 118 00:06:21,279 --> 00:06:23,800 Speaker 1: the spring, you won't have to make any more payments 119 00:06:23,920 --> 00:06:26,839 Speaker 1: or make any payments on federal student loan debt. Thanks 120 00:06:26,880 --> 00:06:29,960 Speaker 1: to the relief that was given during the pandemic to 121 00:06:30,120 --> 00:06:33,359 Speaker 1: federal student loan borrowers. So hopefully that gives y'all some 122 00:06:33,480 --> 00:06:37,200 Speaker 1: time where you could really attack this personal consumer debt 123 00:06:37,200 --> 00:06:40,680 Speaker 1: that you've got, especially the high interest debt. So that 124 00:06:40,839 --> 00:06:43,159 Speaker 1: four thousand dollars of debt that you guys have accrued, 125 00:06:43,200 --> 00:06:45,680 Speaker 1: you said that was on like a zero percent financing plan. 126 00:06:46,320 --> 00:06:50,360 Speaker 1: That's maybe not your top priority right now. Maybe you 127 00:06:50,400 --> 00:06:53,440 Speaker 1: want to tackle that nine thousand dollars that you said 128 00:06:53,440 --> 00:06:57,159 Speaker 1: has skyrocketed because your partner's been out out of work 129 00:06:57,200 --> 00:06:59,680 Speaker 1: for so long, you know, So tackle the high interest 130 00:06:59,760 --> 00:07:03,200 Speaker 1: debt first, but really be aware again of taking on 131 00:07:03,240 --> 00:07:07,000 Speaker 1: that responsibility with your credit score. You know, if you're 132 00:07:07,040 --> 00:07:10,560 Speaker 1: not able to make those payments, obviously that would hurt 133 00:07:10,600 --> 00:07:13,480 Speaker 1: your credit score, and that's who the banks would be 134 00:07:13,520 --> 00:07:17,120 Speaker 1: coming to for payment if you guys can't pay. When 135 00:07:17,200 --> 00:07:19,320 Speaker 1: it comes to managing debt, well, actually I don't know 136 00:07:19,360 --> 00:07:20,600 Speaker 1: if I say this yet, but when it comes to 137 00:07:20,600 --> 00:07:23,000 Speaker 1: managing debt as a couple, I think teamwork makes a 138 00:07:23,080 --> 00:07:27,040 Speaker 1: dream work. I think, at least in my relationship, it 139 00:07:27,160 --> 00:07:29,400 Speaker 1: helped me to start thinking of his debt as my 140 00:07:29,520 --> 00:07:32,520 Speaker 1: debt from an early time in our relationship, and not 141 00:07:32,600 --> 00:07:34,320 Speaker 1: that he had a lot of debt, just as an example, 142 00:07:34,600 --> 00:07:36,880 Speaker 1: and the same thing with my savings, my income, you know, 143 00:07:36,920 --> 00:07:39,200 Speaker 1: just thinking of it as one pot, it just made 144 00:07:39,240 --> 00:07:43,360 Speaker 1: it easier to kind of tackle those goals together. So 145 00:07:43,440 --> 00:07:45,480 Speaker 1: as long as your partner is working and you guys 146 00:07:45,520 --> 00:07:47,600 Speaker 1: are bringing an extra income, and you feel like you 147 00:07:47,640 --> 00:07:51,880 Speaker 1: are capable of making a debt consolidation loan payment, you know, 148 00:07:52,040 --> 00:07:55,720 Speaker 1: month after month and making that a consistent part of 149 00:07:55,760 --> 00:07:58,280 Speaker 1: your budget, then I think it could work for you 150 00:07:58,320 --> 00:08:00,760 Speaker 1: guys to go to a credit union or any other 151 00:08:01,040 --> 00:08:04,280 Speaker 1: lender and get a debt consolidation loan as long as 152 00:08:04,320 --> 00:08:06,960 Speaker 1: it's a lower rate than the cost of your consumer 153 00:08:07,000 --> 00:08:10,600 Speaker 1: debt right now, and just paying that down aggressively, and 154 00:08:10,640 --> 00:08:12,520 Speaker 1: then once that's paid off, then you can move on 155 00:08:13,040 --> 00:08:17,160 Speaker 1: to that zero percent financing debt. As we've said on 156 00:08:17,160 --> 00:08:19,600 Speaker 1: the show before, when it comes to those zero percent 157 00:08:20,000 --> 00:08:22,000 Speaker 1: you know, credit card offers or any kind of like 158 00:08:22,120 --> 00:08:27,200 Speaker 1: zero percent financing which is an introductory rate, really pay 159 00:08:27,200 --> 00:08:29,280 Speaker 1: attention to the fine print because what you don't want 160 00:08:29,320 --> 00:08:32,800 Speaker 1: to happen is that you're left after that promotional period 161 00:08:32,880 --> 00:08:37,000 Speaker 1: is over, if you've even got one dollar of money 162 00:08:37,120 --> 00:08:39,400 Speaker 1: or one dollar of debt still on that line of 163 00:08:39,440 --> 00:08:42,640 Speaker 1: credit or that loan. They may have something called the 164 00:08:42,640 --> 00:08:45,480 Speaker 1: deferred interest clause, which basically says, even if you've got 165 00:08:45,480 --> 00:08:47,400 Speaker 1: one dollar left, we're actually going to go back to 166 00:08:47,400 --> 00:08:49,840 Speaker 1: the beginning of this loan and we're going to pretend 167 00:08:49,840 --> 00:08:52,319 Speaker 1: like you were paying interest this entire time, and they're 168 00:08:52,360 --> 00:08:54,560 Speaker 1: going to tack all that interest back onto your balance. 169 00:08:54,600 --> 00:08:56,600 Speaker 1: So it could actually increase how much you owe, which 170 00:08:57,080 --> 00:09:01,160 Speaker 1: really sucks, right, So just be conscious of that. But 171 00:09:01,320 --> 00:09:04,040 Speaker 1: I think together you guys can definitely tackle this. It's 172 00:09:04,080 --> 00:09:06,959 Speaker 1: definitely not the worst debt story that we've gotten here 173 00:09:06,960 --> 00:09:11,000 Speaker 1: on Brown Ambition that I hope that helped. And good 174 00:09:11,080 --> 00:09:14,120 Speaker 1: luck as you guys get back and you know, get 175 00:09:14,120 --> 00:09:17,880 Speaker 1: back on your feet, you know, financially, and I mean, honestly, 176 00:09:17,880 --> 00:09:21,520 Speaker 1: don't beat yourself up too bad, because the pandemic is 177 00:09:21,520 --> 00:09:25,359 Speaker 1: is and was a huge burden too, so many households, 178 00:09:25,400 --> 00:09:26,840 Speaker 1: and the fact that you had to rack up some 179 00:09:26,880 --> 00:09:29,120 Speaker 1: consumer debt does not mean that you are bad with money. 180 00:09:29,520 --> 00:09:30,920 Speaker 1: It just means you did what you had to do 181 00:09:31,000 --> 00:09:34,280 Speaker 1: to survive during unprecedented times, right, and now you just 182 00:09:34,320 --> 00:09:36,000 Speaker 1: kind of got to pick yourself back up and get 183 00:09:36,040 --> 00:09:38,600 Speaker 1: on the right track, which I feel really confident that 184 00:09:38,600 --> 00:09:41,280 Speaker 1: you guys will be able to do. All right. I 185 00:09:41,280 --> 00:09:44,920 Speaker 1: hope that helped. Thank you again for your question, and 186 00:09:45,040 --> 00:09:47,439 Speaker 1: let me see what's next. All right, So we've got 187 00:09:47,440 --> 00:09:50,640 Speaker 1: a question this week. Oh repeat, a repeat, be a 188 00:09:50,760 --> 00:09:55,160 Speaker 1: questioner Amelia. Amelia's got an interesting question. She says, I'm 189 00:09:55,200 --> 00:09:58,640 Speaker 1: currently in the process of adopting a family member's child. 190 00:09:59,080 --> 00:10:02,440 Speaker 1: I was previously child free at almost thirty years old, 191 00:10:02,480 --> 00:10:05,440 Speaker 1: and now I'm thirty two with a three year old. 192 00:10:05,800 --> 00:10:08,640 Speaker 1: I've now become a government employee and a single parent 193 00:10:08,760 --> 00:10:10,959 Speaker 1: all at once, and I'm trying to pay down debt. 194 00:10:11,520 --> 00:10:14,640 Speaker 1: I recently enrolled in school and I'm using my military 195 00:10:14,679 --> 00:10:17,040 Speaker 1: GI bill to pay for it. So now I have 196 00:10:17,080 --> 00:10:20,240 Speaker 1: an additional twelve thousand dollars tax free coming in over 197 00:10:20,280 --> 00:10:24,080 Speaker 1: the next six months. My question is this, Considering I 198 00:10:24,120 --> 00:10:26,760 Speaker 1: don't have much saved after the pandemic wiped us out, 199 00:10:27,280 --> 00:10:30,400 Speaker 1: and I'm planning a move from southern California to make 200 00:10:30,440 --> 00:10:33,600 Speaker 1: in Georgia, should I pay all my credit card debt 201 00:10:33,640 --> 00:10:36,280 Speaker 1: off or pay it down to about the thirty percent 202 00:10:36,400 --> 00:10:40,160 Speaker 1: mark and save the rest. Also some additional info my 203 00:10:40,280 --> 00:10:44,640 Speaker 1: dad is helping me pay for my cross country move. Okay, 204 00:10:45,280 --> 00:10:47,600 Speaker 1: it's a lot to unpack here. First of all, I mean, 205 00:10:47,640 --> 00:10:53,040 Speaker 1: it's amazing that you are taking on responsibility for a child. 206 00:10:53,200 --> 00:10:55,079 Speaker 1: You know, I have the goodness of your heart, and 207 00:10:55,280 --> 00:10:58,439 Speaker 1: I think that is just a really selfless and amazing 208 00:10:58,440 --> 00:11:01,600 Speaker 1: thing that you've done. It sounds like you know, you've 209 00:11:01,640 --> 00:11:05,000 Speaker 1: got your you've got a good job, you're enrolling in school, 210 00:11:05,480 --> 00:11:07,599 Speaker 1: you're using your military GI bill to pay for it, 211 00:11:07,600 --> 00:11:11,000 Speaker 1: which is amazing, and you've got that income coming in 212 00:11:11,040 --> 00:11:13,560 Speaker 1: to pay for it. But like a lot of families, 213 00:11:13,600 --> 00:11:16,359 Speaker 1: you know, you don't have a lot saved after the pandemic, 214 00:11:16,520 --> 00:11:19,400 Speaker 1: and you're wondering, you know, before I make this move, 215 00:11:19,840 --> 00:11:22,760 Speaker 1: should I pay all my credit card debt off? Potentially? 216 00:11:22,800 --> 00:11:25,960 Speaker 1: I'm wondering if you're thinking about using that twelve thousand 217 00:11:25,960 --> 00:11:28,400 Speaker 1: dollars you've got from your GI bill to pay it 218 00:11:28,440 --> 00:11:33,679 Speaker 1: off and then save the rest. Okay, a couple things, think, thing, thing, thing, Think. 219 00:11:34,679 --> 00:11:39,319 Speaker 1: I wouldn't want you to blow your GI bill on debt. 220 00:11:39,520 --> 00:11:42,920 Speaker 1: I mean, technically that money is earmark for school, and 221 00:11:42,920 --> 00:11:45,120 Speaker 1: you're supposed to use it for school. Now, anyone who 222 00:11:45,160 --> 00:11:48,760 Speaker 1: knows who's ever gotten a student loan refund check. Knows 223 00:11:48,800 --> 00:11:50,679 Speaker 1: that you could use that money for just about anything 224 00:11:51,120 --> 00:11:52,960 Speaker 1: once you get that refund check in the mill, right, 225 00:11:54,160 --> 00:11:58,040 Speaker 1: But look, I wouldn't want you to miss out and 226 00:11:58,360 --> 00:12:00,600 Speaker 1: on this great benefit that you've earned, you know, being 227 00:12:00,640 --> 00:12:03,160 Speaker 1: a service member, to be able to pay for your 228 00:12:03,200 --> 00:12:07,160 Speaker 1: school and be student loan debt free. Now, I would 229 00:12:07,200 --> 00:12:10,560 Speaker 1: actually ask can your dad help you with your credit 230 00:12:10,640 --> 00:12:13,160 Speaker 1: card debt instead of the cross country move, so that 231 00:12:13,200 --> 00:12:15,480 Speaker 1: you can feel like you're getting you know, a good 232 00:12:15,600 --> 00:12:18,640 Speaker 1: chunk of that debt paid down before you're making that move, 233 00:12:19,120 --> 00:12:21,240 Speaker 1: and then just try to do the move as cost 234 00:12:21,280 --> 00:12:26,040 Speaker 1: consciously as possible. I'm not entirely sure where it is 235 00:12:26,080 --> 00:12:28,400 Speaker 1: that you're working, but they may offer some sort of 236 00:12:28,520 --> 00:12:32,800 Speaker 1: relocation benefit. That's something that's worth asking for. If you've 237 00:12:32,800 --> 00:12:35,040 Speaker 1: got credit card debt, you don't tell me how much 238 00:12:35,080 --> 00:12:37,280 Speaker 1: you've got, so it's hard for me to tell, you know, 239 00:12:37,440 --> 00:12:41,600 Speaker 1: is this something that is really weighing down on you 240 00:12:41,679 --> 00:12:44,240 Speaker 1: that you have to pay off right away? You know? 241 00:12:44,600 --> 00:12:47,600 Speaker 1: Why not just pay it off slow and steady after 242 00:12:47,640 --> 00:12:50,120 Speaker 1: you guys move down there and you get settled, and 243 00:12:50,160 --> 00:12:53,120 Speaker 1: then just make a goal to pay that down slow 244 00:12:53,160 --> 00:12:55,760 Speaker 1: and steady, you know, as you get settled in your 245 00:12:55,760 --> 00:12:58,880 Speaker 1: new job and you guys make your new home down 246 00:12:58,880 --> 00:13:01,680 Speaker 1: and make in Georgia. I mean, it may feel like 247 00:13:01,720 --> 00:13:03,400 Speaker 1: it's weighing on you and like you've got to pay 248 00:13:03,440 --> 00:13:06,040 Speaker 1: it off right away, but take the time that you need. 249 00:13:06,080 --> 00:13:07,320 Speaker 1: I mean, I wouldn't want to put you in a 250 00:13:07,360 --> 00:13:11,080 Speaker 1: precarious financial situation and you know, blow the money that 251 00:13:11,120 --> 00:13:14,080 Speaker 1: should be going towards your school on debt that you 252 00:13:14,080 --> 00:13:17,680 Speaker 1: could potentially just be paying down slow and steady. So 253 00:13:17,800 --> 00:13:20,640 Speaker 1: before you use that GI bill on credit card debt, 254 00:13:20,720 --> 00:13:24,520 Speaker 1: I would say, you know, get in school, use a 255 00:13:24,520 --> 00:13:28,480 Speaker 1: bill to pay for that tuition, get settled, and then 256 00:13:28,960 --> 00:13:31,240 Speaker 1: start to budget or start to look at your budget 257 00:13:31,280 --> 00:13:33,360 Speaker 1: and your cash flow and say, how much will I 258 00:13:33,400 --> 00:13:35,960 Speaker 1: actually have leftover that I could use to pay down 259 00:13:35,960 --> 00:13:38,839 Speaker 1: this credit card debt? And is there anything that potentially 260 00:13:38,920 --> 00:13:42,760 Speaker 1: your dad, for example, could help you subsidized by like 261 00:13:42,800 --> 00:13:45,360 Speaker 1: giving you a little bit extra to make that card payment, 262 00:13:45,880 --> 00:13:49,240 Speaker 1: or is there another lever that you could pull? For example, 263 00:13:49,679 --> 00:13:54,000 Speaker 1: could you take out a zero percent interest balance transfer 264 00:13:54,400 --> 00:13:58,120 Speaker 1: you know, credit card and transfer that balance onto another 265 00:13:58,360 --> 00:14:00,520 Speaker 1: credit card that has zero percent interest just to buy 266 00:14:00,559 --> 00:14:02,960 Speaker 1: yourself some time we were just talking about that in 267 00:14:03,000 --> 00:14:05,600 Speaker 1: the last question, and it's an option, you know, especially 268 00:14:05,600 --> 00:14:08,000 Speaker 1: if you've got decent credit. And I don't know anything 269 00:14:08,000 --> 00:14:10,240 Speaker 1: else about your financial history than what you've said here, 270 00:14:10,280 --> 00:14:12,680 Speaker 1: so I'm just going to assume that you've got decent credit, 271 00:14:13,440 --> 00:14:16,160 Speaker 1: you may qualify for a good zero percent offer and 272 00:14:16,240 --> 00:14:19,000 Speaker 1: be able to move that over. Maybe there's even an 273 00:14:19,040 --> 00:14:21,800 Speaker 1: option if you're a military member you may have They 274 00:14:21,840 --> 00:14:25,480 Speaker 1: have great they have some financial institutions, like one of 275 00:14:25,480 --> 00:14:27,560 Speaker 1: the banks that comes to mind is USAA, but I 276 00:14:27,600 --> 00:14:30,960 Speaker 1: know there's others that, you know, work with military service 277 00:14:31,000 --> 00:14:33,800 Speaker 1: members and may be able to give you a low 278 00:14:33,880 --> 00:14:36,840 Speaker 1: interest debt consolidation loan that you can use to pay 279 00:14:36,880 --> 00:14:42,960 Speaker 1: down that debt. But yeah, that's where I'm going. I'm 280 00:14:43,000 --> 00:14:46,160 Speaker 1: not feeling so good about using, you know, school funds 281 00:14:46,160 --> 00:14:49,240 Speaker 1: to pay off debt. But at the same time, I 282 00:14:49,360 --> 00:14:51,080 Speaker 1: see what you're saying. You know, you're wanting to pay 283 00:14:51,080 --> 00:14:54,320 Speaker 1: down debt and start saving. You just may be feeling 284 00:14:54,360 --> 00:14:56,920 Speaker 1: like you have to do everything you know all at 285 00:14:56,920 --> 00:15:01,600 Speaker 1: the same time. Just break it down into small, all measurable, 286 00:15:02,080 --> 00:15:07,080 Speaker 1: you know, doable goals and it won't feel quite as overwhelming. 287 00:15:07,120 --> 00:15:11,000 Speaker 1: I hope all right, Amelia, thank you again for your question. 288 00:15:11,640 --> 00:15:13,240 Speaker 1: I'm going to take a quick little break. It's some 289 00:15:13,240 --> 00:15:15,280 Speaker 1: more of this coffee, and I'll be right back with 290 00:15:15,360 --> 00:15:20,040 Speaker 1: another of your questions. All right, y'all, I am back. 291 00:15:20,040 --> 00:15:22,280 Speaker 1: It's Bandy with Brown Ambition, and I'm here for our 292 00:15:22,280 --> 00:15:25,200 Speaker 1: third and final question from listener Cherish. What a beautiful name. 293 00:15:25,280 --> 00:15:29,240 Speaker 1: Cherish says, I enrolled in a high deductible insurance plan 294 00:15:29,320 --> 00:15:31,840 Speaker 1: so that I could get an HSA and invest the 295 00:15:31,880 --> 00:15:35,800 Speaker 1: money after hearing about the benefits on your interview with 296 00:15:35,920 --> 00:15:37,920 Speaker 1: the Journey to Launch couple. Oh you guys, if you 297 00:15:37,920 --> 00:15:40,720 Speaker 1: haven't listened to our interview with Journey to Launch Christina 298 00:15:40,760 --> 00:15:42,920 Speaker 1: and Aman, go back and listen to it. It's so good. 299 00:15:44,000 --> 00:15:47,440 Speaker 1: All right. Back to Cherish's question, Cherish says, but I 300 00:15:47,600 --> 00:15:50,400 Speaker 1: try to limit going to the doctor unless it's covered, 301 00:15:50,720 --> 00:15:53,080 Speaker 1: because I worry my cost will be really high since 302 00:15:53,120 --> 00:15:56,000 Speaker 1: I don't have a copey and I'm young, twenty eight 303 00:15:56,480 --> 00:15:59,240 Speaker 1: years old and healthy. If I want to start going 304 00:15:59,240 --> 00:16:00,920 Speaker 1: to the doctor more, but I don't want to pay 305 00:16:00,920 --> 00:16:04,040 Speaker 1: a lot. Should I switch to a healthcare plan, a 306 00:16:04,080 --> 00:16:07,320 Speaker 1: new healthcare plan? Or am I being overly cautious? I 307 00:16:07,360 --> 00:16:09,480 Speaker 1: think I'm still anxious from a time when I got 308 00:16:09,560 --> 00:16:12,760 Speaker 1: two thousand dollars bill for a simple lab test because 309 00:16:12,760 --> 00:16:14,920 Speaker 1: they send it to an out of network lab. It 310 00:16:15,000 --> 00:16:17,960 Speaker 1: happened to me too before, so I get it. Cherr says, 311 00:16:18,040 --> 00:16:20,680 Speaker 1: how can I know how much more I'll pay for 312 00:16:20,840 --> 00:16:23,560 Speaker 1: a high deductible health plan versus a health plan that 313 00:16:23,600 --> 00:16:26,040 Speaker 1: has a copay? And if I do switch to a 314 00:16:26,040 --> 00:16:29,960 Speaker 1: copay plan, will my HSA continue to grow? And if 315 00:16:30,000 --> 00:16:32,080 Speaker 1: I switch to a high deductible plan in the future, 316 00:16:32,600 --> 00:16:36,240 Speaker 1: can I continue contributing to it again? Alrighty, this is 317 00:16:36,240 --> 00:16:38,800 Speaker 1: a really cool question. I love it. Why because it 318 00:16:38,880 --> 00:16:42,280 Speaker 1: sort of brings the real world into a situation. It 319 00:16:42,320 --> 00:16:45,120 Speaker 1: brings the real world to like one of these pieces 320 00:16:45,160 --> 00:16:47,600 Speaker 1: of financial advice that's becoming more and more common. So 321 00:16:47,960 --> 00:16:51,440 Speaker 1: Christina and Ammon, they are part of this financial independence 322 00:16:51,480 --> 00:16:54,440 Speaker 1: retire early movement. So they were able to retire at 323 00:16:54,480 --> 00:16:56,600 Speaker 1: thirty nine, I believe, and they moved to Portugal and 324 00:16:56,600 --> 00:16:58,880 Speaker 1: it was all amazing. And one of the strategies they 325 00:16:58,920 --> 00:17:02,000 Speaker 1: talk about where they were able to invest and save 326 00:17:02,160 --> 00:17:05,760 Speaker 1: enough to retire that early was they invested heavily in 327 00:17:05,840 --> 00:17:10,960 Speaker 1: index funds, but they also opened an HSA, a health 328 00:17:11,000 --> 00:17:14,760 Speaker 1: savings account, And in order to get access to an HSA, 329 00:17:14,880 --> 00:17:18,320 Speaker 1: you have to enroll in a high deductible health care plan, 330 00:17:19,320 --> 00:17:21,560 Speaker 1: So you have to have a high deductible in order 331 00:17:21,600 --> 00:17:23,840 Speaker 1: to get this HSA. And the whole point of the 332 00:17:24,000 --> 00:17:27,320 Speaker 1: HSA is that you were putting pre tax dollars into 333 00:17:27,359 --> 00:17:31,359 Speaker 1: an account to set aside for your health care expenses. Because, 334 00:17:31,359 --> 00:17:33,840 Speaker 1: as we all may know, with a high deductible plan, 335 00:17:33,920 --> 00:17:36,000 Speaker 1: it means you've got to come out of pocket before 336 00:17:36,080 --> 00:17:38,080 Speaker 1: your insurance are going to pick up the tab. So 337 00:17:38,119 --> 00:17:39,879 Speaker 1: if you've got a high deductible health care plan, and 338 00:17:39,960 --> 00:17:43,520 Speaker 1: let's say the deductible is like five thousand dollars, you'll 339 00:17:43,600 --> 00:17:46,240 Speaker 1: want to have money set aside because you will be 340 00:17:46,320 --> 00:17:48,680 Speaker 1: on the hook for making any payments toward health care 341 00:17:48,720 --> 00:17:51,760 Speaker 1: needs before that deductible is met. So there's a bit 342 00:17:51,800 --> 00:17:54,320 Speaker 1: of risk there, right. I mean, they were young and healthy, 343 00:17:54,359 --> 00:17:56,680 Speaker 1: the same as you cherish when they when they decided 344 00:17:56,680 --> 00:17:59,120 Speaker 1: to opt in to the high deductible health care plan. 345 00:17:59,200 --> 00:18:01,840 Speaker 1: So they said, eh, probably we're not going to have 346 00:18:01,920 --> 00:18:03,640 Speaker 1: to go the doctor that often, and if we do, 347 00:18:03,960 --> 00:18:06,160 Speaker 1: we'll have money set aside to actually pay for that. 348 00:18:07,240 --> 00:18:11,760 Speaker 1: And when you have an HSA, what helps supercharge your 349 00:18:12,560 --> 00:18:16,120 Speaker 1: retirement savings is that you can actually invest through your HSA, 350 00:18:16,640 --> 00:18:19,560 Speaker 1: which is a cool benefit because you're putting money in 351 00:18:19,600 --> 00:18:22,159 Speaker 1: it before taxes, and then the money is growing tax 352 00:18:22,200 --> 00:18:25,919 Speaker 1: free while you're investing. And then the third and what 353 00:18:25,960 --> 00:18:28,320 Speaker 1: they why they call it a triple tax benefit, is 354 00:18:28,320 --> 00:18:30,880 Speaker 1: that you can withdraw that money tax free so long 355 00:18:30,920 --> 00:18:33,119 Speaker 1: as you're using it for medical expenses. So it is 356 00:18:33,160 --> 00:18:36,760 Speaker 1: a great tool that you potentially could use to invest 357 00:18:36,760 --> 00:18:39,320 Speaker 1: for retirement, especially because when we retire, you know we're 358 00:18:39,359 --> 00:18:42,320 Speaker 1: going to be older, you may have more health care concerns, 359 00:18:42,320 --> 00:18:44,600 Speaker 1: and then you'll actually have a pot of money through 360 00:18:44,760 --> 00:18:47,640 Speaker 1: HSA that you can withdraw and use for those those 361 00:18:47,680 --> 00:18:52,080 Speaker 1: healthcare expenses in retirement. So it sounds like a good idea, right, 362 00:18:52,200 --> 00:18:55,760 Speaker 1: sounds solid. But here's where Cherish's questions interesting because the 363 00:18:55,800 --> 00:18:57,879 Speaker 1: fact of the matter is that when you enroll in 364 00:18:57,880 --> 00:19:00,400 Speaker 1: a high deductible insurance plan, you have to pay more 365 00:19:00,440 --> 00:19:03,360 Speaker 1: out of pocket along the way, and you may actually 366 00:19:03,359 --> 00:19:06,600 Speaker 1: not have the funds to cover those kinds of expenses. 367 00:19:07,480 --> 00:19:09,920 Speaker 1: And if you anticipate that you're going to have more 368 00:19:09,960 --> 00:19:13,520 Speaker 1: medical expenses, you will have to think carefully about whether 369 00:19:13,560 --> 00:19:16,440 Speaker 1: a high deductible plan makes sense for you. It still 370 00:19:16,480 --> 00:19:19,159 Speaker 1: can make sense. You know, it can make sense if 371 00:19:19,200 --> 00:19:21,960 Speaker 1: you've got money set aside. You know that you're setting 372 00:19:22,000 --> 00:19:25,240 Speaker 1: aside through your HSA or other ways so that you 373 00:19:25,280 --> 00:19:28,440 Speaker 1: can pay for those copays out of pocket or pay 374 00:19:28,440 --> 00:19:32,280 Speaker 1: for any expenses out of pocket. And I think everyone 375 00:19:32,400 --> 00:19:35,639 Speaker 1: when you're on a medical plan like cherish this nightmare 376 00:19:35,680 --> 00:19:37,480 Speaker 1: where you've got a two thousand dollars bill for a 377 00:19:37,560 --> 00:19:39,480 Speaker 1: lab test because they send it to an out of 378 00:19:39,520 --> 00:19:42,680 Speaker 1: network lab. Those types of things happen all the time, 379 00:19:42,720 --> 00:19:45,760 Speaker 1: and you have to be really diligent and reading all 380 00:19:45,760 --> 00:19:49,399 Speaker 1: of your bills really carefully and triple triple quadruple checking 381 00:19:50,080 --> 00:19:53,200 Speaker 1: where they are sending certain lab work, or you know, 382 00:19:53,240 --> 00:19:55,040 Speaker 1: making sure if they're going to refer you to a 383 00:19:55,080 --> 00:19:58,479 Speaker 1: physician that you have done your due diligence and triple 384 00:19:58,560 --> 00:20:02,240 Speaker 1: dipple quadruple checked yourself to make sure they're in network, 385 00:20:02,560 --> 00:20:04,240 Speaker 1: because I mean, at the end of the day, like 386 00:20:04,320 --> 00:20:05,960 Speaker 1: you're going to be the one who cares most about 387 00:20:05,960 --> 00:20:09,760 Speaker 1: your money, right and in a rush at the medical office, 388 00:20:09,800 --> 00:20:11,560 Speaker 1: they may just send you to a doctor that they 389 00:20:11,560 --> 00:20:13,960 Speaker 1: think is in your network, but come to find out 390 00:20:14,000 --> 00:20:16,720 Speaker 1: they've left your network last week, you know, So you've 391 00:20:16,720 --> 00:20:20,680 Speaker 1: got to be really diligent and it takes it takes 392 00:20:20,720 --> 00:20:25,240 Speaker 1: some babysitting. I feel like you of your medical your 393 00:20:25,240 --> 00:20:27,439 Speaker 1: medical bills and all that kind of stuff to be 394 00:20:27,480 --> 00:20:30,200 Speaker 1: sure that you're not going to find yourself in that situation. 395 00:20:30,280 --> 00:20:35,240 Speaker 1: But yeah, HSA can be a good tool to use 396 00:20:35,320 --> 00:20:39,760 Speaker 1: for retirement, but it does come with that reality that 397 00:20:39,840 --> 00:20:41,520 Speaker 1: you will have to pay a little bit more out 398 00:20:41,560 --> 00:20:44,840 Speaker 1: of pocket than you might have liked to. And if 399 00:20:44,880 --> 00:20:48,480 Speaker 1: you're not feeling financially capable of doing that, then yes, 400 00:20:48,600 --> 00:20:52,000 Speaker 1: it could make more sense to enroll in a different 401 00:20:52,080 --> 00:20:54,760 Speaker 1: healthcare plan, a healthcare plan that is probably going to 402 00:20:54,840 --> 00:20:57,480 Speaker 1: cost you a little bit more out of your paycheck 403 00:20:57,520 --> 00:21:01,000 Speaker 1: each pay period. But at least you'll have the piece 404 00:21:01,040 --> 00:21:02,760 Speaker 1: of mind knowing if I do need to go to 405 00:21:02,760 --> 00:21:05,200 Speaker 1: the doctor, I'm only going to have that twenty five 406 00:21:05,240 --> 00:21:09,440 Speaker 1: dollars or that thirty five dollars copay. You ask how much? 407 00:21:09,600 --> 00:21:11,920 Speaker 1: You ask here? How can I know how much more 408 00:21:11,960 --> 00:21:15,600 Speaker 1: I'll pay on a high deductible plan versus a copay plan. 409 00:21:16,680 --> 00:21:18,560 Speaker 1: So this is where you can do some homework and 410 00:21:18,600 --> 00:21:21,280 Speaker 1: when you go to your enrollment page. Now open enrollment 411 00:21:21,320 --> 00:21:24,080 Speaker 1: is typically around November, so you may have to wait 412 00:21:25,080 --> 00:21:27,280 Speaker 1: until the fall of this year to make a big 413 00:21:27,560 --> 00:21:29,960 Speaker 1: make a change like this. But when it comes time 414 00:21:30,000 --> 00:21:32,520 Speaker 1: for open enrollment, what you want to do, and a 415 00:21:32,520 --> 00:21:34,480 Speaker 1: lot of plan pages will actually let you do this 416 00:21:34,600 --> 00:21:37,320 Speaker 1: online is do a side by side comparison and they 417 00:21:37,359 --> 00:21:40,399 Speaker 1: should be able to tell you here's what your here's 418 00:21:40,440 --> 00:21:42,440 Speaker 1: what your deduction is going to be from your paycheck 419 00:21:42,680 --> 00:21:44,560 Speaker 1: for this plan, so here's what your premium is going 420 00:21:44,640 --> 00:21:47,800 Speaker 1: to cost, and here's what your copay is going to be. 421 00:21:48,440 --> 00:21:50,080 Speaker 1: And then you've just got to make that, you know, 422 00:21:50,080 --> 00:21:53,239 Speaker 1: make the decision based on your best guess of how 423 00:21:53,359 --> 00:21:55,359 Speaker 1: much healthcare you're going to need in the year to come. 424 00:21:56,280 --> 00:21:59,399 Speaker 1: I know it's kind of it's annoying and it's a 425 00:21:59,400 --> 00:22:01,919 Speaker 1: little overwhelming, like how can I predict what kind of 426 00:22:01,920 --> 00:22:04,200 Speaker 1: health care I'm going to need? But that's what you 427 00:22:04,280 --> 00:22:05,640 Speaker 1: got to do. I mean, you just got to kind 428 00:22:05,640 --> 00:22:07,639 Speaker 1: of make the best decision based on what you know. 429 00:22:08,080 --> 00:22:10,240 Speaker 1: And if you anticipate, like like I said, if you 430 00:22:10,320 --> 00:22:16,080 Speaker 1: anticipate having some medical expenses or having some procedures done 431 00:22:16,240 --> 00:22:19,320 Speaker 1: that will be more costly, then you may want to 432 00:22:19,440 --> 00:22:21,640 Speaker 1: at least for the next year however long it'll take. 433 00:22:22,000 --> 00:22:24,760 Speaker 1: You know, change to a plan that costs you a 434 00:22:24,800 --> 00:22:27,560 Speaker 1: little bit more out of pocket for your premium, but 435 00:22:27,640 --> 00:22:31,480 Speaker 1: actually gives you better benefits because it pays for a 436 00:22:31,520 --> 00:22:35,880 Speaker 1: lot more of those services upfront versus a high deductible plan, 437 00:22:36,400 --> 00:22:39,320 Speaker 1: you know, where you're maybe paying a lower premium, but 438 00:22:39,520 --> 00:22:42,520 Speaker 1: you're coming out of pocket a lot more often when 439 00:22:42,560 --> 00:22:46,119 Speaker 1: you go to the doctor. Okay, So another question you 440 00:22:46,160 --> 00:22:48,080 Speaker 1: had is if I do switch to a copay plan, 441 00:22:48,240 --> 00:22:51,199 Speaker 1: will my HSA continue to grow? Yes. The beauty of 442 00:22:51,200 --> 00:22:53,159 Speaker 1: an HSA is you can actually take it with you, 443 00:22:53,520 --> 00:22:55,919 Speaker 1: even if you leave your job. It goes with you. 444 00:22:56,480 --> 00:22:58,240 Speaker 1: And yes, it will continue to grow. It's not going 445 00:22:58,320 --> 00:23:01,080 Speaker 1: to go anywhere. You won't lose it. And if you 446 00:23:01,359 --> 00:23:03,159 Speaker 1: decide to go back to a high deductible plan in 447 00:23:03,200 --> 00:23:06,840 Speaker 1: the future, I don't know if that particular. It depends 448 00:23:06,880 --> 00:23:09,199 Speaker 1: on if you've switched companies at that point, or if 449 00:23:09,240 --> 00:23:11,920 Speaker 1: it's the same insurance company, they may have you open 450 00:23:11,960 --> 00:23:17,840 Speaker 1: an hsat a different a different financial service. But yes, 451 00:23:17,920 --> 00:23:20,400 Speaker 1: you can contribute to your HSA again at that point. 452 00:23:20,520 --> 00:23:23,440 Speaker 1: Just maybe I just may be contributing to a new 453 00:23:23,600 --> 00:23:27,760 Speaker 1: HSA account somewhere else. But if it's the same insurer 454 00:23:27,840 --> 00:23:31,040 Speaker 1: and the same employer. I would imagine that you could 455 00:23:31,040 --> 00:23:34,160 Speaker 1: probably just start contributing again to that HSA directly through 456 00:23:34,240 --> 00:23:36,520 Speaker 1: the same HSA that you had kind of put on 457 00:23:36,600 --> 00:23:39,080 Speaker 1: pause for a while while you switch to a different 458 00:23:39,680 --> 00:23:42,960 Speaker 1: health care plan. Okay, yay. I don't know why I 459 00:23:43,000 --> 00:23:46,320 Speaker 1: get excited talking about hsas, but I love this question, Cherish. 460 00:23:46,400 --> 00:23:49,480 Speaker 1: And it's another reminder too that as much as we see, 461 00:23:50,000 --> 00:23:52,560 Speaker 1: you know, stories of other people on their own financial 462 00:23:52,640 --> 00:23:55,879 Speaker 1: journeys and you know, making decisions about the types of 463 00:23:55,920 --> 00:23:57,880 Speaker 1: health care that they're going to pay for, in types 464 00:23:57,920 --> 00:24:00,439 Speaker 1: of investment accounts that they're going to open, at the 465 00:24:00,480 --> 00:24:02,320 Speaker 1: end of the day, all they're doing is telling you 466 00:24:02,359 --> 00:24:06,720 Speaker 1: a story about what served them, you know, in their journey. 467 00:24:06,760 --> 00:24:09,119 Speaker 1: And I just want everyone to be aware of that 468 00:24:09,200 --> 00:24:10,399 Speaker 1: at the end of the day, like you've got to 469 00:24:10,400 --> 00:24:13,240 Speaker 1: do what's best for you and your financial situation, situation, 470 00:24:13,880 --> 00:24:16,240 Speaker 1: and just because something was the right decision for other 471 00:24:16,320 --> 00:24:18,439 Speaker 1: people does not mean it's going to be the right 472 00:24:18,480 --> 00:24:22,800 Speaker 1: decision for you. These things are complex, our lives are complex. 473 00:24:22,920 --> 00:24:25,520 Speaker 1: Everyone is so different. So just make peace with the 474 00:24:25,520 --> 00:24:28,240 Speaker 1: fact that your financial journey is going to look different 475 00:24:28,280 --> 00:24:30,240 Speaker 1: than everyone else's, you know, and you can definitely like 476 00:24:30,280 --> 00:24:33,000 Speaker 1: take ideas from other people, but you've got to do 477 00:24:33,080 --> 00:24:35,679 Speaker 1: what's best for you financially. And I'm really glad that 478 00:24:35,720 --> 00:24:37,840 Speaker 1: you are taking a step back here and saying, Okay, 479 00:24:37,920 --> 00:24:40,560 Speaker 1: maybe it worked for Journey to launch, but I don't 480 00:24:40,600 --> 00:24:42,960 Speaker 1: know if I'm actually going to be the right this 481 00:24:42,960 --> 00:24:45,280 Speaker 1: will be the right path for me, and being willing 482 00:24:45,320 --> 00:24:48,920 Speaker 1: to kind of be critical and think about that before 483 00:24:48,920 --> 00:24:52,040 Speaker 1: you just kind of jump and dive into something just 484 00:24:52,080 --> 00:24:55,119 Speaker 1: because you know someone else said it worked for them, 485 00:24:55,480 --> 00:24:57,800 Speaker 1: all right, Cherish, thank you so much for your question. 486 00:24:58,359 --> 00:24:59,800 Speaker 1: That was a good, juicy one for the end of 487 00:24:59,840 --> 00:25:03,280 Speaker 1: the show. Thank y'all for listening, BA fam, thanks for 488 00:25:03,320 --> 00:25:06,400 Speaker 1: walking back down memory lane and answering these questions from 489 00:25:06,440 --> 00:25:09,400 Speaker 1: listeners past on this week's Q and A. I hope 490 00:25:09,400 --> 00:25:11,400 Speaker 1: that these answers have helped you all to think through 491 00:25:11,400 --> 00:25:14,640 Speaker 1: your own money situations, and if you're sort of left 492 00:25:14,680 --> 00:25:17,119 Speaker 1: with questions of your own, send them on in email 493 00:25:17,200 --> 00:25:20,639 Speaker 1: me Bronambition Podcast at gmail dot com. You can also 494 00:25:20,760 --> 00:25:24,680 Speaker 1: DM me at Brown Ambition Podcast on ig That's probably 495 00:25:24,720 --> 00:25:26,280 Speaker 1: the easiest way. If you want to leave me a 496 00:25:26,400 --> 00:25:28,840 Speaker 1: voice memo or voice note that you want to have 497 00:25:29,000 --> 00:25:31,480 Speaker 1: aired on the show, or just ask your question that way. 498 00:25:31,760 --> 00:25:35,160 Speaker 1: I am here for y'all, so send on your questions 499 00:25:35,240 --> 00:25:38,119 Speaker 1: and I'll see y'all next Friday for another episode of 500 00:25:38,200 --> 00:25:39,879 Speaker 1: The ba Qa Bye.