1 00:00:06,080 --> 00:00:10,039 Speaker 1: It's time for the b a q a A that'd 2 00:00:10,039 --> 00:00:12,680 Speaker 1: be a q a what you say that'd be a 3 00:00:13,039 --> 00:00:17,000 Speaker 1: q ain't no man day to be a qa Just timpanay. 4 00:00:17,400 --> 00:00:22,440 Speaker 1: The b a qa a man is not here. As 5 00:00:22,440 --> 00:00:24,960 Speaker 1: you can see, I'm in the step buy my little son. 6 00:00:25,120 --> 00:00:25,840 Speaker 2: But I got y'all. 7 00:00:26,280 --> 00:00:29,560 Speaker 1: We're going to take some questions and I've got some answers. 8 00:00:29,600 --> 00:00:32,520 Speaker 1: But as I always say, I'm not your mama. 9 00:00:32,720 --> 00:00:33,760 Speaker 2: No, I'm not. 10 00:00:33,720 --> 00:00:37,360 Speaker 1: Your cousin, well, your financial internet cousin. I'm not your 11 00:00:37,360 --> 00:00:41,040 Speaker 1: financial advisor. I'm not your attorney. I'm not your doctor child, 12 00:00:41,600 --> 00:00:44,440 Speaker 1: I'm not even your engineer. But what I am is 13 00:00:44,560 --> 00:00:48,680 Speaker 1: a smart black girl who can answer some questions that 14 00:00:48,720 --> 00:00:52,480 Speaker 1: you take with the smallest tiniest grain of salt aka 15 00:00:53,080 --> 00:00:56,160 Speaker 1: sue somebody else you know, Take what I say with 16 00:00:56,200 --> 00:00:58,000 Speaker 1: a grain of salt. Ask the people that you pay 17 00:00:58,480 --> 00:01:00,960 Speaker 1: like what you should do. Do. Let's get started, b 18 00:01:01,080 --> 00:01:02,960 Speaker 1: a qa And if you ever want to ask a question, 19 00:01:03,480 --> 00:01:05,720 Speaker 1: best thing to do is go head on over to 20 00:01:05,800 --> 00:01:09,520 Speaker 1: brianambischon podcast on Instagram, send us a question. 21 00:01:09,360 --> 00:01:12,560 Speaker 2: There, and or go ahead on and. 22 00:01:13,240 --> 00:01:17,320 Speaker 1: To briannabishonpodcast dot com and click contact us. 23 00:01:17,800 --> 00:01:19,240 Speaker 2: Yeah, all right, let's get started. 24 00:01:19,319 --> 00:01:21,760 Speaker 1: Let me see, let me say, let me say, let 25 00:01:21,800 --> 00:01:24,680 Speaker 1: me say, quick question from Patrice. But I think I'm 26 00:01:24,720 --> 00:01:28,680 Speaker 1: gonna do three today. Patrice asks a question. She says, Hello, Tiffany, 27 00:01:29,120 --> 00:01:32,080 Speaker 1: I love the podcast. And here you mentioned financial advisors 28 00:01:32,080 --> 00:01:32,840 Speaker 1: a few times. 29 00:01:33,200 --> 00:01:33,920 Speaker 2: Do you have any. 30 00:01:33,760 --> 00:01:37,240 Speaker 1: Suggestions on how to find one I do or anyone 31 00:01:37,280 --> 00:01:40,200 Speaker 1: that you could recommend. I'm single mom and want to 32 00:01:40,319 --> 00:01:43,240 Speaker 1: meet some goals to prepare for her going to college. 33 00:01:43,280 --> 00:01:46,320 Speaker 1: First of all, yes, single mama. Okay, now here's what 34 00:01:46,319 --> 00:01:46,840 Speaker 1: you're gonna do. 35 00:01:47,120 --> 00:01:50,280 Speaker 2: Patrese. So I wrote this book called Geek. It was money. 36 00:01:50,880 --> 00:01:52,760 Speaker 1: I'm not gonna tell you that book, right, but what 37 00:01:52,800 --> 00:01:55,200 Speaker 1: you are gonna do is get something far free. You're 38 00:01:55,240 --> 00:01:58,320 Speaker 1: going to go to get Good with Money dot com. 39 00:01:58,320 --> 00:02:00,920 Speaker 1: I'm literally going there now to make sure it's all good. 40 00:02:01,360 --> 00:02:03,280 Speaker 1: And you're going to click at the top it says 41 00:02:03,600 --> 00:02:05,960 Speaker 1: GGWM for gick Ors Money. 42 00:02:06,000 --> 00:02:08,680 Speaker 2: Book Club Kit. You find that, click on the kit 43 00:02:09,280 --> 00:02:09,919 Speaker 2: sis right. 44 00:02:10,240 --> 00:02:13,280 Speaker 1: Then you're gonna download the kid and when you do, 45 00:02:13,720 --> 00:02:17,720 Speaker 1: it's gonna open up one it'll it'll it'll send you 46 00:02:17,760 --> 00:02:20,280 Speaker 1: a I guess a PDF or link, but you'll be 47 00:02:20,320 --> 00:02:22,200 Speaker 1: able to open up right away and what's so great 48 00:02:22,200 --> 00:02:26,840 Speaker 1: about the kit is if you scroll down zam zamz 49 00:02:27,800 --> 00:02:33,119 Speaker 1: If you scroll down to chapter ten on the kit 50 00:02:34,320 --> 00:02:39,240 Speaker 1: pick your money Team, there's gonna be these resources, right Like, 51 00:02:39,800 --> 00:02:41,920 Speaker 1: there's gonna be these resources that you can use to 52 00:02:42,040 --> 00:02:45,799 Speaker 1: find who you need. Like if I click, let me see, No, 53 00:02:46,080 --> 00:02:49,359 Speaker 1: where is it? Oh? Meanwhile, girl, I'm on the wrong thing. 54 00:02:49,680 --> 00:02:51,800 Speaker 1: I was like, where is this. I'm looking at the 55 00:02:51,800 --> 00:02:55,200 Speaker 1: book club kit. I mean, that's great. You could definitely 56 00:02:55,240 --> 00:02:57,120 Speaker 1: go get your book club kit on two, but I 57 00:02:57,160 --> 00:02:58,600 Speaker 1: want you to not get the book club get I 58 00:02:58,639 --> 00:03:01,200 Speaker 1: want you to go there and get the toolkit because 59 00:03:01,200 --> 00:03:02,959 Speaker 1: I was like, this doesn't look like what I said 60 00:03:03,240 --> 00:03:05,240 Speaker 1: what you should have. You're going to get the toolkit 61 00:03:05,280 --> 00:03:07,760 Speaker 1: because that's really important. And I still want you to 62 00:03:07,760 --> 00:03:12,840 Speaker 1: scroll down to chapter ten because in the toolkit you 63 00:03:12,880 --> 00:03:14,200 Speaker 1: will find as soon as you put in your name 64 00:03:14,240 --> 00:03:16,359 Speaker 1: in your email, it opens up right away to the website. 65 00:03:16,720 --> 00:03:18,840 Speaker 2: And if you go scroll, scrow, scrow, I want you 66 00:03:18,880 --> 00:03:19,600 Speaker 2: to The reason. 67 00:03:19,440 --> 00:03:21,160 Speaker 1: Why I want you to go here is because it's 68 00:03:21,240 --> 00:03:23,560 Speaker 1: more than just here's a list of financial advisors. 69 00:03:24,120 --> 00:03:25,720 Speaker 2: There are a bunch of things. 70 00:03:25,760 --> 00:03:30,519 Speaker 1: So there is this this template that I created called 71 00:03:30,760 --> 00:03:33,880 Speaker 1: my sole called financial Life which is literally a template 72 00:03:33,919 --> 00:03:37,160 Speaker 1: where it's like all of it is a sheet that 73 00:03:37,160 --> 00:03:39,160 Speaker 1: you can fill out with all of your financial information. 74 00:03:39,280 --> 00:03:43,720 Speaker 1: So when you interview financial planners ideally certified financial planners 75 00:03:44,000 --> 00:03:46,360 Speaker 1: that you are, don't forget what to share with them, 76 00:03:46,440 --> 00:03:49,360 Speaker 1: Like I like to actually share my my my sole 77 00:03:49,440 --> 00:03:52,200 Speaker 1: called financial life template with them, like here's everything you 78 00:03:52,360 --> 00:03:54,840 Speaker 1: need to know about my finances. Let's talk, right, So 79 00:03:54,880 --> 00:03:57,000 Speaker 1: that's one that's there. This is under chapter ten on 80 00:03:57,040 --> 00:04:01,040 Speaker 1: the toolkit at get goodwith Money dot Com. Also there 81 00:04:01,080 --> 00:04:03,320 Speaker 1: you're also going to find some sites that I recommend, 82 00:04:03,800 --> 00:04:08,040 Speaker 1: like the na p F A fee only network, XY Planning. 83 00:04:08,080 --> 00:04:10,880 Speaker 1: That's all gonna be there if you're looking even to 84 00:04:10,920 --> 00:04:13,440 Speaker 1: find it, like an accountant, there's going to be information there. 85 00:04:13,880 --> 00:04:15,800 Speaker 1: And so it's just like it's just there's just so 86 00:04:15,920 --> 00:04:18,039 Speaker 1: many resources there that that are going to help you. 87 00:04:18,080 --> 00:04:20,440 Speaker 1: So I would go to get Go with Money dot Com. 88 00:04:20,480 --> 00:04:23,520 Speaker 1: Click on the tool kit, scroll to chapter ten. Don't 89 00:04:23,560 --> 00:04:26,240 Speaker 1: just get where you can find a financial planner. I 90 00:04:26,279 --> 00:04:29,279 Speaker 1: also want you to get like what questions you should 91 00:04:29,279 --> 00:04:34,440 Speaker 1: ask them and what and like like here's this temple 92 00:04:34,480 --> 00:04:36,440 Speaker 1: that you can fill out with your finances so they 93 00:04:36,480 --> 00:04:38,000 Speaker 1: know like whether or not you might be a fit 94 00:04:38,040 --> 00:04:38,320 Speaker 1: for them. 95 00:04:38,880 --> 00:04:42,640 Speaker 2: So I hope that's helpful. Lansing. 96 00:04:43,640 --> 00:04:46,919 Speaker 1: Next on the docket, we have a question that we 97 00:04:46,960 --> 00:04:49,880 Speaker 1: get a lot. I'm gonna give you a name. Let's 98 00:04:49,880 --> 00:05:00,680 Speaker 1: call you Denise asks Hey, Tiffany and Mandra love you question. 99 00:05:00,880 --> 00:05:04,159 Speaker 1: I never know whether or not to pay down debt 100 00:05:04,520 --> 00:05:08,080 Speaker 1: or save what comes first, the chicken, nub the egg. 101 00:05:08,800 --> 00:05:10,240 Speaker 2: Well she didn't say the chicken or the egg. I 102 00:05:10,240 --> 00:05:10,719 Speaker 2: had to that part. 103 00:05:11,480 --> 00:05:14,680 Speaker 1: So when you are paying down, when you have some 104 00:05:14,760 --> 00:05:18,400 Speaker 1: extra money left over, if you know you're fortunate there 105 00:05:18,560 --> 00:05:21,600 Speaker 1: you know there is that question. Do I prioritize paying 106 00:05:21,640 --> 00:05:26,000 Speaker 1: down debt? Do I prioritize savings? And the answer is 107 00:05:26,279 --> 00:05:29,480 Speaker 1: it depends what I say. Your name was fake name, Chanise. 108 00:05:29,920 --> 00:05:35,039 Speaker 1: It depends Chenese. Because if you have debt that is expensive, 109 00:05:35,279 --> 00:05:38,159 Speaker 1: which most debt is meaning over double digits like some 110 00:05:38,200 --> 00:05:44,200 Speaker 1: people have debt it's fifteen percent, twenty percent double digit debt. 111 00:05:44,520 --> 00:05:47,400 Speaker 1: I want you to over index and pay more towards 112 00:05:47,440 --> 00:05:52,680 Speaker 1: paying down debt because right now, let me see what 113 00:05:52,720 --> 00:05:54,520 Speaker 1: banks are giving as far as interest. Right we're about 114 00:05:54,520 --> 00:06:00,920 Speaker 1: to look it up about to see like what banks 115 00:06:00,920 --> 00:06:04,080 Speaker 1: are doing as far as interest rates, let's slay like 116 00:06:04,200 --> 00:06:07,279 Speaker 1: I'm trying to think, like what a high yield savings 117 00:06:07,320 --> 00:06:13,880 Speaker 1: accounts is giving right now? High yield savings accounts, Okay, okay, 118 00:06:14,800 --> 00:06:20,640 Speaker 1: right now the highest I'm saying is about four point 119 00:06:20,720 --> 00:06:27,400 Speaker 1: five percent. Okay, well I actually that's old, so that's weird. 120 00:06:27,640 --> 00:06:31,360 Speaker 1: Why is it not showing anyway? But right now, yeah, 121 00:06:31,520 --> 00:06:34,760 Speaker 1: about four point five percent? Right, So, if your debt 122 00:06:34,880 --> 00:06:39,840 Speaker 1: is costing you ten percent, and high yield meaning like 123 00:06:39,880 --> 00:06:41,839 Speaker 1: the highest you're getting right out here in the streets 124 00:06:42,360 --> 00:06:46,480 Speaker 1: is four and a half percent, ten percent is bringing 125 00:06:46,520 --> 00:06:46,919 Speaker 1: you down. 126 00:06:47,400 --> 00:06:49,440 Speaker 2: Four percent is halfway bringing you back up. 127 00:06:49,720 --> 00:06:51,720 Speaker 1: So do you see why it's important to pay off 128 00:06:51,760 --> 00:06:53,680 Speaker 1: the thing that's actually costing you the most amount of 129 00:06:53,720 --> 00:06:57,320 Speaker 1: money because you cannot save what the debt is costing you. 130 00:06:58,000 --> 00:06:59,479 Speaker 2: So what I would say. 131 00:06:59,839 --> 00:07:02,480 Speaker 1: Is is I want you to focus on getting rid 132 00:07:02,600 --> 00:07:04,960 Speaker 1: of expensive debt now. I don't want you to not save. 133 00:07:05,120 --> 00:07:07,440 Speaker 1: So let's just say I had one hundred dollars, I 134 00:07:07,520 --> 00:07:09,440 Speaker 1: might say to myself, I'm gonna put twenty five dollars 135 00:07:09,440 --> 00:07:12,280 Speaker 1: into savings because savings is like a seat belt. 136 00:07:12,600 --> 00:07:14,840 Speaker 2: You know, you're gonna have to lean into that safety 137 00:07:14,880 --> 00:07:15,120 Speaker 2: of it. 138 00:07:15,040 --> 00:07:18,320 Speaker 1: All that's just how it goes, you know, Like, so 139 00:07:18,400 --> 00:07:21,280 Speaker 1: you should have something going towards savings and then maybe 140 00:07:21,280 --> 00:07:23,680 Speaker 1: I put seventy five dollars toward paying down that debt 141 00:07:23,680 --> 00:07:25,800 Speaker 1: because the debt is costing me way too much money. 142 00:07:25,880 --> 00:07:27,480 Speaker 1: But let's just say I had like some student loan 143 00:07:27,520 --> 00:07:29,760 Speaker 1: debt and the interest rate was like three percent or 144 00:07:29,760 --> 00:07:31,720 Speaker 1: something like that. Then I would over in debts on 145 00:07:31,760 --> 00:07:33,720 Speaker 1: the savings because the savings is just making me more 146 00:07:33,760 --> 00:07:35,840 Speaker 1: than the student loan is costing me. So I would 147 00:07:35,880 --> 00:07:38,840 Speaker 1: say maybe like seventy five into savings twenty five to 148 00:07:38,920 --> 00:07:40,640 Speaker 1: pay you know, the student loan debt off. 149 00:07:40,920 --> 00:07:41,960 Speaker 2: I hope that makes sense. 150 00:07:41,960 --> 00:07:47,000 Speaker 1: That, like, if you're paying off debt versus savings, look 151 00:07:47,040 --> 00:07:49,560 Speaker 1: to see are you gonna make more in savings or 152 00:07:49,560 --> 00:07:53,400 Speaker 1: you're gonna spend more on debt. In prioritize which one 153 00:07:53,760 --> 00:07:56,280 Speaker 1: the interest rate is higher. You know, you should still 154 00:07:56,280 --> 00:07:58,880 Speaker 1: try your best to do both, but prioritize the one 155 00:07:58,880 --> 00:08:01,040 Speaker 1: with the interest rate that's high, because that's where you're 156 00:08:01,040 --> 00:08:03,200 Speaker 1: gonna see the biggest return, or at least the biggest 157 00:08:03,240 --> 00:08:06,720 Speaker 1: cut down. I think it was, Oh, who's that richest 158 00:08:06,720 --> 00:08:08,440 Speaker 1: man in the world when he's the richest warm Buffett. 159 00:08:08,520 --> 00:08:10,960 Speaker 1: He said, the best raise you can give yourself is 160 00:08:11,000 --> 00:08:14,400 Speaker 1: to get rid of high interest rate debt because that 161 00:08:14,480 --> 00:08:18,160 Speaker 1: interest rate, that fifteen twenty percent is coursing you, siss. 162 00:08:18,320 --> 00:08:20,040 Speaker 1: So if you can get rid of that debt, you 163 00:08:20,040 --> 00:08:21,840 Speaker 1: are going to be able to have more money a month. 164 00:08:21,880 --> 00:08:22,960 Speaker 2: That's like an internal raise. 165 00:08:23,360 --> 00:08:27,360 Speaker 1: So before we answer another question or two, we don't see, 166 00:08:27,520 --> 00:08:30,480 Speaker 1: we're gonna throw the break, pay some bills, and we're 167 00:08:30,480 --> 00:08:36,600 Speaker 1: gonna be back and black and brown and miss see 168 00:08:36,640 --> 00:08:41,160 Speaker 1: you in a minute. We're back in black. Can I 169 00:08:41,240 --> 00:08:42,960 Speaker 1: just get into the fact that, like, because I mean, 170 00:08:42,960 --> 00:08:44,760 Speaker 1: if you don't pick yourself up, who's gonna big yourself up? 171 00:08:46,240 --> 00:08:48,120 Speaker 1: Your girl skin has been glowing. And when I tell 172 00:08:48,120 --> 00:08:50,520 Speaker 1: you I don't have like I have. We don't have 173 00:08:50,600 --> 00:08:53,079 Speaker 1: on on. I have like this thing from Bobby Brown 174 00:08:53,160 --> 00:08:56,640 Speaker 1: called something a bomb girl. 175 00:08:56,640 --> 00:08:57,240 Speaker 2: I'm the worst. 176 00:08:58,080 --> 00:09:00,160 Speaker 1: But anyway, so it gives you a little bit of 177 00:09:00,160 --> 00:09:02,600 Speaker 1: a glow. But I don't have foundation on. Look at 178 00:09:02,640 --> 00:09:06,320 Speaker 1: my skin. You know what I've been doing instead? I 179 00:09:06,360 --> 00:09:07,880 Speaker 1: have been taking So I asked my doctor it was 180 00:09:07,920 --> 00:09:10,000 Speaker 1: okay to take. They said, yes, I have been taking 181 00:09:10,120 --> 00:09:12,920 Speaker 1: collagen and it's like one of the best ways to 182 00:09:12,920 --> 00:09:14,760 Speaker 1: get collagen, which I don't do this because I don't 183 00:09:14,760 --> 00:09:18,719 Speaker 1: eat meat. Is bone broth, you boil bones and like, 184 00:09:18,760 --> 00:09:20,920 Speaker 1: cause there's like collagen in the bones, and collagen is 185 00:09:20,960 --> 00:09:23,760 Speaker 1: what helps your skin rejuvenate. Collagen is like helps with 186 00:09:23,880 --> 00:09:25,880 Speaker 1: joints and stuff like that. And so I've been seeing 187 00:09:25,920 --> 00:09:27,600 Speaker 1: the girls talk about collagen and but I said, before 188 00:09:27,600 --> 00:09:29,680 Speaker 1: I put them things in my body, child, let me 189 00:09:29,720 --> 00:09:31,719 Speaker 1: ask my duelter. And they were like, you know, that's 190 00:09:31,760 --> 00:09:34,240 Speaker 1: fine that you can take collagen, and that's great. So 191 00:09:35,679 --> 00:09:38,959 Speaker 1: I ordered this like collagen called like Spoiled Child. I'm 192 00:09:38,920 --> 00:09:42,280 Speaker 1: sure you to all the this is not sponsor. I 193 00:09:42,440 --> 00:09:45,320 Speaker 1: ordered this collagen called Spoiled Child, and I was like, okay, 194 00:09:45,360 --> 00:09:47,400 Speaker 1: the taste is not bad. I take like two tablestoons 195 00:09:47,440 --> 00:09:49,560 Speaker 1: every morning. It's a little sweet, so I'm sure the 196 00:09:49,600 --> 00:09:51,679 Speaker 1: sugar is like if you diabetic, you might want to say, 197 00:09:52,760 --> 00:09:57,280 Speaker 1: but anyway, so you know the girly seed that you know, 198 00:09:57,320 --> 00:09:59,559 Speaker 1: it's about two months before you really see. 199 00:09:59,440 --> 00:10:00,680 Speaker 2: Like a different you know. 200 00:10:00,760 --> 00:10:02,520 Speaker 1: So I was like, okay, So I'm on the end 201 00:10:02,520 --> 00:10:04,640 Speaker 1: of my second bottle, which actually let me make myself 202 00:10:04,640 --> 00:10:07,280 Speaker 1: a no because your girl need to order another bottle. 203 00:10:08,480 --> 00:10:09,960 Speaker 2: So the girl. 204 00:10:09,960 --> 00:10:11,440 Speaker 1: He said, you know, after two months, I'm gonna say 205 00:10:11,480 --> 00:10:15,880 Speaker 1: I'm just literally making myself no order or order college. 206 00:10:17,520 --> 00:10:18,079 Speaker 2: College. 207 00:10:18,240 --> 00:10:21,800 Speaker 1: Yeah. And so the other day, like I was getting 208 00:10:21,840 --> 00:10:24,320 Speaker 1: like my makeup retech. I was like speaking at someplace 209 00:10:24,360 --> 00:10:28,640 Speaker 1: big time. The other day, I was like, you know, 210 00:10:28,720 --> 00:10:32,040 Speaker 1: like getting my makeup done, like to speak on the stage. 211 00:10:32,040 --> 00:10:33,360 Speaker 1: And the lady was like, you have such great skin. 212 00:10:33,360 --> 00:10:34,760 Speaker 1: I mean, people tell me I have decent skin all 213 00:10:34,800 --> 00:10:36,640 Speaker 1: the time. But I was like, hey, yeah, yeah, But 214 00:10:36,640 --> 00:10:39,720 Speaker 1: then I really looked because when I came back from Egypt, 215 00:10:39,760 --> 00:10:43,600 Speaker 1: like last month, like Egypt burnt your sister's sister to 216 00:10:43,640 --> 00:10:47,480 Speaker 1: a crisp okay, I was, and I wore sunscreen even 217 00:10:47,520 --> 00:10:49,880 Speaker 1: though I'm chocolate. I wore sunscreen because chocolate do melt. 218 00:10:50,640 --> 00:10:52,960 Speaker 1: And but it's just like my skin was so dry 219 00:10:53,040 --> 00:10:55,520 Speaker 1: after and it just was not looking its best and 220 00:10:55,559 --> 00:10:57,560 Speaker 1: I was breaking out like crazy, and I don't break out. 221 00:10:57,640 --> 00:11:00,480 Speaker 2: I was getting cystic acne like I was in high school. 222 00:11:01,000 --> 00:11:03,120 Speaker 1: But I started taking this collagen and I bought all 223 00:11:03,120 --> 00:11:04,319 Speaker 1: this stuff that I was gonna use to kind of 224 00:11:04,320 --> 00:11:06,160 Speaker 1: rejuvenate my skin, and I just got lazy. I bought 225 00:11:06,160 --> 00:11:08,079 Speaker 1: one hundred dollars worth of stuff and I just never 226 00:11:08,120 --> 00:11:10,040 Speaker 1: got to it. So I'm using my normal skin carero 227 00:11:10,120 --> 00:11:11,720 Speaker 1: tuons that I've been using for the last three years, 228 00:11:11,720 --> 00:11:14,320 Speaker 1: which is because my skin gets really dry birds bees, 229 00:11:14,360 --> 00:11:17,080 Speaker 1: I use an oil cleanser. Then I use like this 230 00:11:17,240 --> 00:11:20,200 Speaker 1: serum from this black owned brand that I love called 231 00:11:20,240 --> 00:11:23,240 Speaker 1: butter Bar. They have this melanin serum that I've always 232 00:11:23,240 --> 00:11:24,560 Speaker 1: been using for the last two years. And they have 233 00:11:24,559 --> 00:11:26,760 Speaker 1: an under eye roller things that I always been using. 234 00:11:27,920 --> 00:11:30,040 Speaker 1: And then because I can get like little ezema patches 235 00:11:30,080 --> 00:11:33,600 Speaker 1: I was using, I used this like this like Ezama lotion, 236 00:11:33,720 --> 00:11:35,440 Speaker 1: but I use it on my face too, but the same. Like, 237 00:11:35,559 --> 00:11:38,000 Speaker 1: I didn't do anything different. But when I was saying 238 00:11:38,040 --> 00:11:41,559 Speaker 1: my skin it is the most supple. I ain't never 239 00:11:41,559 --> 00:11:43,720 Speaker 1: seen my skin like this. And I was like, in 240 00:11:44,000 --> 00:11:46,000 Speaker 1: literally I was putting lotion on my skin yesterday, and 241 00:11:46,040 --> 00:11:48,520 Speaker 1: I was like, why did my skin feel so soft. 242 00:11:48,559 --> 00:11:50,440 Speaker 2: Like sore like a baby's booty. 243 00:11:50,800 --> 00:11:52,160 Speaker 1: I know, I'm going off on a tangent because I'm 244 00:11:52,160 --> 00:11:53,480 Speaker 1: like whatever, girl Mandy in here, I could do what 245 00:11:53,520 --> 00:11:55,240 Speaker 1: I won't, I could do what I won't, So anyway, 246 00:11:55,800 --> 00:11:57,440 Speaker 1: and I was like, I'm not doing anything different. I 247 00:11:57,440 --> 00:11:59,120 Speaker 1: have not used any of those products that I bought 248 00:11:59,120 --> 00:12:01,320 Speaker 1: to like rejuvenate my skin post Egypt, because I've just 249 00:12:01,320 --> 00:12:03,440 Speaker 1: been lazy about it. I'm using the same routine I 250 00:12:03,559 --> 00:12:08,560 Speaker 1: always as I always and yeah, and I realized the 251 00:12:08,559 --> 00:12:11,960 Speaker 1: only thing new is this dag on collagen. And I'm 252 00:12:11,960 --> 00:12:14,080 Speaker 1: not here to say you need to use collegen, but 253 00:12:14,080 --> 00:12:18,560 Speaker 1: I'm just saying your good sis. I mean, my skin 254 00:12:18,760 --> 00:12:23,840 Speaker 1: is given twenty five, but my knees is given forty three. Yeah, 255 00:12:23,880 --> 00:12:25,920 Speaker 1: so I don't know. I mean, I would just love 256 00:12:25,960 --> 00:12:27,160 Speaker 1: to know. Has anybody try collagen? 257 00:12:27,760 --> 00:12:27,960 Speaker 2: You know? 258 00:12:28,360 --> 00:12:29,800 Speaker 1: My sister says she was gonna try it so we 259 00:12:29,840 --> 00:12:31,600 Speaker 1: fit the sea, But I don't know. I don't know 260 00:12:31,600 --> 00:12:33,240 Speaker 1: if that's why my skin looks like this. All I'm 261 00:12:33,280 --> 00:12:35,480 Speaker 1: saying is I didn't. I'm not using anything new on 262 00:12:35,520 --> 00:12:38,959 Speaker 1: my face, you know. The only thing different is I'm 263 00:12:39,000 --> 00:12:42,240 Speaker 1: taking collagen. So, like I'm not a medical doctor, so 264 00:12:42,240 --> 00:12:43,720 Speaker 1: I'm not saying that's what you need to do. But 265 00:12:43,760 --> 00:12:46,199 Speaker 1: like I said, I spoke to my doctor, the one 266 00:12:46,200 --> 00:12:48,040 Speaker 1: who I pay, so that's what you ought to do. 267 00:12:48,320 --> 00:12:50,200 Speaker 1: But and just ask about you know, like I don't know, 268 00:12:50,679 --> 00:12:52,160 Speaker 1: cause I just, you know, I want to be youthful 269 00:12:52,160 --> 00:12:53,880 Speaker 1: because my mom, don't have no wrinkles, and I said, 270 00:12:54,000 --> 00:12:56,640 Speaker 1: child dry skin leads to wrinkles. We don't want that, 271 00:12:56,920 --> 00:13:00,280 Speaker 1: so our forty three year old skin is holding it tight. Okay, anyway, 272 00:13:00,280 --> 00:13:05,160 Speaker 1: shout out to collegen. Anyway, let's see question from Shirlean. 273 00:13:06,000 --> 00:13:09,200 Speaker 1: Charlene says, Hi, ladies, I have a dilemma and I 274 00:13:09,240 --> 00:13:11,600 Speaker 1: hope you can help with it. I have a personal 275 00:13:11,679 --> 00:13:16,040 Speaker 1: loan of five fifteen thousand, five hundred and with a 276 00:13:16,120 --> 00:13:19,280 Speaker 1: whopping fifteen point twenty four percent interest rate. She said, 277 00:13:19,320 --> 00:13:21,480 Speaker 1: I know you don't have to tell me, sad face, 278 00:13:21,559 --> 00:13:24,040 Speaker 1: I get it. That's a lot running the numbers. I 279 00:13:24,080 --> 00:13:27,480 Speaker 1: don't have the capacity to pay more than the minimum payment, 280 00:13:27,640 --> 00:13:29,880 Speaker 1: which is three hundred and eighty thousand a month on 281 00:13:30,000 --> 00:13:33,720 Speaker 1: the loan, and I am a new single mom working 282 00:13:33,760 --> 00:13:36,520 Speaker 1: part time. However, I do put aside four hundred dollars 283 00:13:36,520 --> 00:13:39,040 Speaker 1: a month into my son's saves account, and that currently 284 00:13:39,040 --> 00:13:43,360 Speaker 1: has a balance of fifteen thousand dollars earning approximately four percent. Oh, 285 00:13:43,400 --> 00:13:46,000 Speaker 1: we just answered the question like this. I have recently 286 00:13:46,040 --> 00:13:48,120 Speaker 1: decided that I want to put at least ten thousand 287 00:13:48,440 --> 00:13:52,520 Speaker 1: of the savings into an investment bond for my son 288 00:13:52,600 --> 00:13:54,400 Speaker 1: and continue to fund it each month, as I have 289 00:13:54,520 --> 00:13:56,719 Speaker 1: been doing. But part of me thinks I should take 290 00:13:56,760 --> 00:14:01,199 Speaker 1: fifteen thousand to pay the loan that rebuild my son's 291 00:14:01,200 --> 00:14:03,200 Speaker 1: savings by paying eight hundred dollars a month into it. 292 00:14:03,559 --> 00:14:04,400 Speaker 2: What say you? 293 00:14:04,480 --> 00:14:06,440 Speaker 1: I hate the idea of taking my child's money, but 294 00:14:06,480 --> 00:14:09,080 Speaker 1: I also hate the debt that won't move. For context, 295 00:14:09,200 --> 00:14:12,480 Speaker 1: I have two thousand in emergency funds and hope to 296 00:14:12,480 --> 00:14:14,680 Speaker 1: buy a home in the next year or two. Thanks 297 00:14:14,720 --> 00:14:23,160 Speaker 1: so much, Shirlene, Hirlene, Chirlene, Shirley, Shirley, Shirley, I beg 298 00:14:23,240 --> 00:14:25,840 Speaker 1: you please, you don't something take my man. That's Dolly 299 00:14:25,880 --> 00:14:30,640 Speaker 1: Parton and then it was like remade by Malea Cyrus. Okay, Shirlen, 300 00:14:32,360 --> 00:14:34,600 Speaker 1: this is hard, right because you're like, I want to 301 00:14:34,640 --> 00:14:37,880 Speaker 1: set aside money for the baby, which congratulatess mama. 302 00:14:37,960 --> 00:14:41,680 Speaker 2: I love that. But you have this debt, which you're 303 00:14:41,720 --> 00:14:42,400 Speaker 2: absolutely right. 304 00:14:42,440 --> 00:14:46,200 Speaker 1: If you pay the minimum on this fifteen thousand dollars debt, 305 00:14:46,480 --> 00:14:47,960 Speaker 1: you will be paying that debt. 306 00:14:49,760 --> 00:14:51,400 Speaker 2: It's go get a like a. 307 00:14:51,600 --> 00:14:53,280 Speaker 1: If I had the time, I would like plug into 308 00:14:53,280 --> 00:14:55,160 Speaker 1: a calculate you're gonna pay not be paying that debt 309 00:14:55,240 --> 00:14:56,240 Speaker 1: for a long time. 310 00:14:56,280 --> 00:14:58,480 Speaker 2: And you're likely paid like double what you actually own. 311 00:14:58,760 --> 00:15:01,720 Speaker 1: That fifteen is gonna cost you, Like, you know, that's 312 00:15:01,720 --> 00:15:04,640 Speaker 1: the problem with like when you pay the minimum on debt, 313 00:15:05,560 --> 00:15:07,480 Speaker 1: it's that like so much of that money goes to fees, 314 00:15:07,720 --> 00:15:10,800 Speaker 1: which is really disheartening. You know. So I can understand 315 00:15:11,120 --> 00:15:14,040 Speaker 1: you didn't say how old your son was, but you 316 00:15:14,080 --> 00:15:17,200 Speaker 1: said I'm a new single mom. So I don't know 317 00:15:17,240 --> 00:15:22,920 Speaker 1: if you're newly single or newly a mom. But the 318 00:15:23,000 --> 00:15:26,320 Speaker 1: thing is, if mama ain't good, nobody good. And so 319 00:15:26,480 --> 00:15:28,320 Speaker 1: I know you're like, oh, I hate taking away from 320 00:15:28,320 --> 00:15:29,800 Speaker 1: my son, but you know it's really taking away from 321 00:15:29,800 --> 00:15:32,360 Speaker 1: your son, this fifteen thousand dollars money you owe at 322 00:15:32,400 --> 00:15:36,960 Speaker 1: fifteen percent. If it was me, I honestly, especially if 323 00:15:37,000 --> 00:15:39,120 Speaker 1: my son was a baby, like it'd be one thing. 324 00:15:39,120 --> 00:15:41,280 Speaker 1: If you said my son graduates high school next year, 325 00:15:41,320 --> 00:15:43,600 Speaker 1: then I might be like, ah, you need that money 326 00:15:43,600 --> 00:15:47,160 Speaker 1: for college right away. But if your son is really young, 327 00:15:47,640 --> 00:15:49,360 Speaker 1: you know, if he was super young, you know, like 328 00:15:49,480 --> 00:15:50,920 Speaker 1: I said, you're a new mom, you know your son 329 00:15:51,000 --> 00:15:53,040 Speaker 1: is like two three. I would take that full amount 330 00:15:53,080 --> 00:15:55,080 Speaker 1: and pay off that debt and say we're not going 331 00:15:55,120 --> 00:15:57,080 Speaker 1: back into we're not going back into debt. 332 00:15:57,080 --> 00:15:57,320 Speaker 2: No more. 333 00:15:57,360 --> 00:15:58,880 Speaker 1: Now you don't You didn't tell me your other debt. 334 00:15:59,160 --> 00:16:01,920 Speaker 1: Do you have other credit card debt and things like that. 335 00:16:02,160 --> 00:16:04,880 Speaker 1: I don't know that here, because then I might reconsider. 336 00:16:05,200 --> 00:16:06,920 Speaker 1: But I'm just going to pretend like this is the 337 00:16:06,920 --> 00:16:08,840 Speaker 1: only debt that you owe besides like maybe your car 338 00:16:08,920 --> 00:16:11,000 Speaker 1: note or something like that. But this is the most 339 00:16:11,040 --> 00:16:13,520 Speaker 1: expensive debt in the you don't have any credit card debt. 340 00:16:13,520 --> 00:16:17,240 Speaker 1: I'm just going to pretend I probably would put all, 341 00:16:17,480 --> 00:16:20,160 Speaker 1: if not most, to pay off this debt because at 342 00:16:20,160 --> 00:16:22,320 Speaker 1: that fifteen percent, it's going to take a long time 343 00:16:22,360 --> 00:16:24,280 Speaker 1: to pay that off. And if your son is only 344 00:16:24,360 --> 00:16:26,360 Speaker 1: earning four percent, and let's just say you put your money, 345 00:16:26,440 --> 00:16:29,560 Speaker 1: his money into a bond, right, you put it into investment, 346 00:16:29,600 --> 00:16:32,640 Speaker 1: you put into the market. The market is still on 347 00:16:32,760 --> 00:16:36,040 Speaker 1: average going to yield about ten percent a year, So 348 00:16:36,360 --> 00:16:39,600 Speaker 1: ten percent is still less than fifteen that you know, 349 00:16:40,040 --> 00:16:42,240 Speaker 1: fifteen in the quarter that the debt is costing you. 350 00:16:42,360 --> 00:16:43,200 Speaker 2: Does that make sense? 351 00:16:43,360 --> 00:16:45,280 Speaker 1: So even if you were to get a great return 352 00:16:45,320 --> 00:16:48,680 Speaker 1: in the market at ten percent, you know, you're still 353 00:16:48,760 --> 00:16:50,440 Speaker 1: it's still not going to be what the debt is 354 00:16:50,480 --> 00:16:54,240 Speaker 1: costing you. So I probably would all things considered used 355 00:16:54,280 --> 00:16:56,920 Speaker 1: to pay down that debt and stay out of debt, 356 00:16:57,520 --> 00:17:00,480 Speaker 1: you know, as much as possible, because what you don't 357 00:17:00,480 --> 00:17:01,880 Speaker 1: want to do is you don't want to make it 358 00:17:01,920 --> 00:17:05,760 Speaker 1: a habit of like saving and then taking, saving and taking. 359 00:17:05,840 --> 00:17:09,639 Speaker 1: So then what I would do moving forward is I 360 00:17:09,680 --> 00:17:12,000 Speaker 1: would be putting my son's money into a vehicle that 361 00:17:12,040 --> 00:17:14,199 Speaker 1: I cannot easily touch, to your point, like setting and 362 00:17:14,240 --> 00:17:17,639 Speaker 1: putting up you know, investing it so it's not easily 363 00:17:17,680 --> 00:17:20,280 Speaker 1: accessible to you. That's probably all I do. I would be, 364 00:17:20,320 --> 00:17:22,399 Speaker 1: like I might. I'm not saying this is what you 365 00:17:22,400 --> 00:17:24,320 Speaker 1: should do. If I would do, I'd probably bite the bullet, 366 00:17:24,880 --> 00:17:27,760 Speaker 1: pay off this debt, commit to not getting back into 367 00:17:27,800 --> 00:17:30,439 Speaker 1: debt like that, or if I do, you know, borrow 368 00:17:30,480 --> 00:17:33,320 Speaker 1: money or whatever, you know, navigating for the best interest 369 00:17:33,320 --> 00:17:35,880 Speaker 1: possible so it's not costing me so much. And then 370 00:17:35,960 --> 00:17:37,720 Speaker 1: any new money that I'm going to be doubling down 371 00:17:37,760 --> 00:17:39,400 Speaker 1: my child, I'm going to put it into an account 372 00:17:39,600 --> 00:17:41,360 Speaker 1: that I don't have as much free access to because 373 00:17:41,400 --> 00:17:43,399 Speaker 1: we don't want to make a habit into taking from 374 00:17:43,400 --> 00:17:46,320 Speaker 1: the son's account, from your son's account, and also too, 375 00:17:47,000 --> 00:17:50,400 Speaker 1: instead of doubling up to rebuild my son's savings into 376 00:17:50,440 --> 00:17:52,600 Speaker 1: eight hundred buck dollars a month. I would put four 377 00:17:52,680 --> 00:17:55,440 Speaker 1: hundred dollars to my son and four hundred dollars into 378 00:17:55,440 --> 00:17:57,760 Speaker 1: my emergency fund, because your emergency fund is not enough, 379 00:17:58,520 --> 00:18:00,960 Speaker 1: you know, like you want ideally they have three months 380 00:18:01,000 --> 00:18:04,320 Speaker 1: worth of expenses in the emergency fund, you know, because 381 00:18:04,480 --> 00:18:06,399 Speaker 1: here's the reason why if something happens, what would you 382 00:18:06,440 --> 00:18:08,760 Speaker 1: and your son do? You know, like I would make 383 00:18:08,800 --> 00:18:12,880 Speaker 1: that My priority is to bulk up that emergency fund. 384 00:18:12,920 --> 00:18:15,879 Speaker 1: So again, I would probably pay off all of, not 385 00:18:16,000 --> 00:18:18,800 Speaker 1: most of that fifteen thousand dollars because it's too expensive. 386 00:18:19,440 --> 00:18:22,399 Speaker 1: I would continue to fund my son's account with the 387 00:18:22,400 --> 00:18:24,720 Speaker 1: four hundred and now put the other four hundred into 388 00:18:24,720 --> 00:18:27,080 Speaker 1: my emergency fund, if not even more into the emergency fund, 389 00:18:27,119 --> 00:18:29,280 Speaker 1: like two hundred to my son for you know, six 390 00:18:29,400 --> 00:18:33,440 Speaker 1: hundred to the emergency fund only because if emergency hits, 391 00:18:33,480 --> 00:18:35,760 Speaker 1: who won't look after you and a baby that money? 392 00:18:36,040 --> 00:18:37,600 Speaker 2: And so that's more important right now. 393 00:18:37,960 --> 00:18:40,200 Speaker 1: And then you know, like try your best to keep 394 00:18:40,240 --> 00:18:42,080 Speaker 1: out of debt and continue to earn and look for 395 00:18:42,119 --> 00:18:43,320 Speaker 1: ways to earn additional income. 396 00:18:43,960 --> 00:18:45,440 Speaker 2: I hope that's helpful, Shirlene. 397 00:18:46,080 --> 00:18:47,800 Speaker 1: Yeah, sometimes you have to make those choices that are 398 00:18:47,800 --> 00:18:49,960 Speaker 1: not the funnest or the cutest, but the choice that 399 00:18:49,960 --> 00:18:51,680 Speaker 1: we have to make. I have certainly been in that place, 400 00:18:51,720 --> 00:18:56,400 Speaker 1: so certainly, no, no, no shame. You do the best 401 00:18:56,440 --> 00:18:58,880 Speaker 1: you can with what you have until you can do better, 402 00:18:58,920 --> 00:18:59,560 Speaker 1: Then you do better. 403 00:19:00,080 --> 00:19:04,560 Speaker 2: So I hope that was helpful. Bea fan. If you have. 404 00:19:04,840 --> 00:19:08,840 Speaker 1: Questions that you want to answered about business, about career, 405 00:19:09,160 --> 00:19:12,840 Speaker 1: about money, about entrepreneurship, you know, you just want to 406 00:19:12,880 --> 00:19:15,399 Speaker 1: share whatever you can, hit us up. We are the 407 00:19:15,440 --> 00:19:20,560 Speaker 1: BA Podcast on Twitter, Brian Ambition Podcast on Instagram, Brianambition 408 00:19:20,760 --> 00:19:24,400 Speaker 1: Podcasts dot com. You can click contact us and ask 409 00:19:24,520 --> 00:19:29,480 Speaker 1: questions there. There's a contact contact me button there until 410 00:19:29,520 --> 00:19:32,119 Speaker 1: next week. Holy, By next week, we all are the 411 00:19:32,240 --> 00:19:36,920 Speaker 1: auntie of a brand new BA baby. We already have Rio, 412 00:19:37,040 --> 00:19:40,520 Speaker 1: that's Mandy's son, Rio. We already have Rio, So we're 413 00:19:40,520 --> 00:19:42,160 Speaker 1: about to have a new BA baby. So we all 414 00:19:42,600 --> 00:19:44,320 Speaker 1: be on baby watch to see when that baby's coming. 415 00:19:44,320 --> 00:19:47,879 Speaker 1: Because Mandy literally do like today any day now, so 416 00:19:47,920 --> 00:19:48,800 Speaker 1: you'll be stuck with me. 417 00:19:49,320 --> 00:19:49,800 Speaker 2: But that's okay. 418 00:19:49,800 --> 00:19:52,040 Speaker 1: We're gonna have some guests in the stew I's just 419 00:19:52,119 --> 00:19:54,879 Speaker 1: here by myself today because Mandy had to do some 420 00:19:54,960 --> 00:19:58,680 Speaker 1: baby things last minute. All right, y'all see you next week. 421 00:19:58,880 --> 00:20:02,480 Speaker 2: Bye, Hey, ba Fam. We could not do this show 422 00:20:02,600 --> 00:20:05,600 Speaker 2: without your support or the support of our team behind 423 00:20:05,600 --> 00:20:09,120 Speaker 2: the scenes. The Brown Ambition Podcast is produced by Imani 424 00:20:09,160 --> 00:20:12,520 Speaker 2: Crosby and Dennis Stanplinsky is our in house tech guru. 425 00:20:13,040 --> 00:20:15,600 Speaker 2: I am your co host Mandy Woodrif Santos, and we 426 00:20:15,680 --> 00:20:20,280 Speaker 2: will see y'all next week, ba Fam.