WEBVTT - More Covid-19 Money Questions Answered 0:00:16.120 --> 0:00:23.400 Hey, hey, hey, we're back. We're black, we're brown, abbish 0:00:23.680 --> 0:00:26.880 yr I decided to like you see, you had that tone, 0:00:26.960 --> 0:00:29.319 that tonal change. Everybody can't do that. Everybody can't do 0:00:29.360 --> 0:00:30.400 that each week. 0:00:30.440 --> 0:00:32.199 I just regret that we never came up with an 0:00:32.240 --> 0:00:40.440 actual gone for the entry. No, it's just tip spin 0:00:40.520 --> 0:00:43.200 pull tip spin, you know, holding that burying that weight 0:00:43.360 --> 0:00:46.480 on her shoulders for a good four and a half 0:00:46.600 --> 0:00:49.920 years now. I try to switch it up with y'all. 0:00:50.320 --> 0:00:51.879 You would appreciate it, that's what you are. 0:00:53.240 --> 0:00:56.400 No, I appreciated you. I'm just like Mady. We should 0:00:56.440 --> 0:00:57.040 give you a break. 0:00:58.360 --> 0:01:00.320 Oh no, that would actually be cool. If we had 0:01:00.320 --> 0:01:03.000 a little rodo vision like little Diddy Bop, maybe we 0:01:03.040 --> 0:01:03.520 could get there. 0:01:03.880 --> 0:01:06.600 We've been saying that for half we. 0:01:06.560 --> 0:01:08.120 Should hit up the girl. Remember the young woman that 0:01:08.160 --> 0:01:10.400 did that, did the Molly Moore theme song. 0:01:11.720 --> 0:01:14.679 Sure, yeah, right, if you wanna, yeah, let's do that. 0:01:14.920 --> 0:01:18.360 But before that, let's uh, let's talk about what's happening. 0:01:18.440 --> 0:01:20.600 What's happening in year old? How are we? How? First 0:01:20.640 --> 0:01:22.520 of all, mental health check in? How are you doing? 0:01:22.920 --> 0:01:26.480 Eh? Okay, it's a lot, you know, it's about right. 0:01:27.920 --> 0:01:30.960 That's literally like and I guess it's better than like 0:01:31.040 --> 0:01:37.080 being worse than it, but definitely I'm feeling like like, yeah, yeah, it's. 0:01:36.880 --> 0:01:38.280 A cabin fever getting to you. 0:01:39.240 --> 0:01:43.160 Yeah, I mean some days and some days not. I 0:01:43.160 --> 0:01:45.560 mean because I do work largely from home, but it's 0:01:45.600 --> 0:01:47.920 hard because you know, you work from home, but I 0:01:47.960 --> 0:01:51.240 can leave, but knowing that you really can't and I'm 0:01:51.240 --> 0:01:53.960 not gonna lie. More and more of my friends have 0:01:54.160 --> 0:01:58.080 friends that have passed or really sick from Corona, so 0:01:58.240 --> 0:02:01.520 it just it's starting to creeping closer and closer, and 0:02:01.560 --> 0:02:05.200 I'm just you know, you have this feeling where you 0:02:05.240 --> 0:02:07.639 know that eventually you're going to know somebody like, well 0:02:07.840 --> 0:02:11.079 that's like really sick or yea worse than sick. And 0:02:11.280 --> 0:02:13.520 I guess I'm kind of like bracing myself. What is that? 0:02:14.400 --> 0:02:17.880 What does that feel like? You know what I mean? So, yeah, 0:02:17.919 --> 0:02:18.440 you're right. 0:02:19.360 --> 0:02:23.239 It feels almost like you're that person in the movie 0:02:23.600 --> 0:02:26.280 and you're trap somewhere where the water is seeping in 0:02:26.560 --> 0:02:28.880 and right now it's around your ankles, and every week 0:02:28.919 --> 0:02:30.919 it's like, Okay, it's my shins, and it's my knees 0:02:30.960 --> 0:02:33.000 and it's my waist and when is it going to 0:02:33.080 --> 0:02:37.480 get me, Yeah, it's that. It is that that just 0:02:37.520 --> 0:02:40.160 cloud of anxiety which sort of just hangs over everything. 0:02:41.000 --> 0:02:43.760 One of the things I started to do around I 0:02:43.800 --> 0:02:45.919 don't know the third or fourth day since I started 0:02:45.960 --> 0:02:49.040 to work from home, was pull out this old just 0:02:49.320 --> 0:02:50.919 I always buy journals and I'm like, I'm going to 0:02:50.960 --> 0:02:53.080 write in them one day. I love collecting journals that 0:02:53.120 --> 0:02:55.639 I'd never write in, but I finally I picked one 0:02:55.680 --> 0:02:58.680 out and I started to just jot down what really 0:02:58.680 --> 0:03:01.160 frustrated me that day or what was happening that day, 0:03:01.200 --> 0:03:04.680 because there really isn't. I mean, I do have my 0:03:04.800 --> 0:03:08.560 therapist who I still see via a tell a what's 0:03:08.600 --> 0:03:10.560 it called telehealth I think is the platform they use, 0:03:10.639 --> 0:03:13.359 But for me, it helps to just write out what's 0:03:13.360 --> 0:03:15.960 stressing me out and even if it's four am. Especially 0:03:16.000 --> 0:03:18.600 when I was really dealing with intense anxiety when I 0:03:18.639 --> 0:03:20.680 had the baby, I would wake up all night and 0:03:20.720 --> 0:03:22.799 just couldn't. I would stay awake all night and could 0:03:22.840 --> 0:03:25.240 not sleep, and I would just get up, go to 0:03:25.280 --> 0:03:27.200 the kitchen, pull out a notepad and just like write 0:03:27.200 --> 0:03:29.720 out what I was worried about and just write it down. 0:03:29.840 --> 0:03:33.919 And something about that helps me. So if that seems 0:03:33.960 --> 0:03:35.520 like something that could help you. I just wanted to 0:03:35.560 --> 0:03:38.600 share because it's very simple and it's free, and just 0:03:38.600 --> 0:03:42.200 getting it off your chest, saying it out loud, as 0:03:42.240 --> 0:03:44.880 my therapist always says, like one of the things that 0:03:45.120 --> 0:03:48.560 she and I talk about is it's not about pushing 0:03:48.600 --> 0:03:51.280 down the thoughts, the scary thoughts, what could happen, the 0:03:51.280 --> 0:03:54.880 what ifs, But it's about looking at them and acknowledging 0:03:54.920 --> 0:03:57.560 them and letting them float away, just kind of saying, Okay, 0:03:57.600 --> 0:04:00.600 I had that thought, it's just a thought, can't hurt me, 0:04:01.040 --> 0:04:03.880 and kind of moving on from it, and you know, 0:04:04.080 --> 0:04:08.000 my journey through anxiety continues, but not something that's helped me. 0:04:08.440 --> 0:04:09.680 I guess you know what it is that I used 0:04:09.680 --> 0:04:14.320 to always strike me as odd, not odd like but odd. 0:04:14.480 --> 0:04:16.159 I don't know any other way to put it, is 0:04:16.200 --> 0:04:20.240 that things, terrible things can happen, and yet the world 0:04:20.279 --> 0:04:22.680 is still moving, you know. Like I remember when I 0:04:22.720 --> 0:04:25.120 was in it was in my twenties, and I remember, 0:04:25.240 --> 0:04:28.320 like my grandmother passed away, and I remember being like, yo, 0:04:28.680 --> 0:04:31.240 doesn't everybody understand my grandmother passed away? Like as if 0:04:31.279 --> 0:04:34.240 like like everyone stopped for a moment. You know what 0:04:34.320 --> 0:04:37.680 I mean, like it's like like I was teaching preschool 0:04:37.680 --> 0:04:38.960 at the time, and I remember I had to go 0:04:39.000 --> 0:04:41.000 home because it was like, you know, the kids, they 0:04:41.040 --> 0:04:43.120 were like miss Tiffany, look at my dog baby and 0:04:43.200 --> 0:04:46.520 watch me kick and you know, like it's everything keeps 0:04:46.560 --> 0:04:50.200 turning despite tragedy, and so sometimes it's hard because like 0:04:50.279 --> 0:04:53.000 you can't catch your breath because you're like, you know, 0:04:53.040 --> 0:04:55.320 although this is the first time that it does seem 0:04:55.360 --> 0:04:57.960 like a of a kind of a screeching halt because 0:04:58.000 --> 0:05:02.120 things are not turning and churning. But I don't know. 0:05:02.160 --> 0:05:04.279 That always struck me as kind of like this weird 0:05:04.920 --> 0:05:09.400 sense that you have to keep walking despite losing limbs 0:05:09.440 --> 0:05:11.440 along the way or something. You know. I don't know 0:05:11.440 --> 0:05:12.360 if I'm describing it. 0:05:12.480 --> 0:05:14.839 Yeah, no, I get it. It's it's again. I'll go 0:05:14.880 --> 0:05:16.680 back to that analogy of like there's a like a 0:05:16.680 --> 0:05:20.120 tornado hits a big city and maybe you're across the 0:05:20.160 --> 0:05:22.680 country and it's sunny outside and it's hard for you 0:05:22.720 --> 0:05:25.320 to imagine and you go about your life and I 0:05:25.360 --> 0:05:27.200 and it does feel that way being here in New 0:05:27.279 --> 0:05:29.320 York and being in the New Jersey area like we are, 0:05:29.720 --> 0:05:31.320 it feels like you're you're in the eye of the 0:05:31.400 --> 0:05:35.320 hurricane and it's just destroyed. You know, it's we're about 0:05:35.360 --> 0:05:38.040 to hit the apex in terms of deaths. In New York. 0:05:38.160 --> 0:05:40.040 They say the middle of April. It's the end of 0:05:40.080 --> 0:05:42.800 April where it's going to keep getting worse. But there's 0:05:42.839 --> 0:05:44.760 parts of the country where it's not quite as bad. 0:05:45.200 --> 0:05:47.679 And like in Georgia, my my own home state of Georgia, 0:05:48.000 --> 0:05:50.320 Lord have mercy. How do this man beat Stacy Abrams? 0:05:50.320 --> 0:05:52.200 I will never be able to tell you. But the 0:05:52.240 --> 0:05:55.600 governor is trying to reopen beaches right now, and it 0:05:55.680 --> 0:05:59.720 feels like there's some places where people just aren't getting it. 0:05:59.800 --> 0:06:03.039 And I mean, living here in the middle of it, 0:06:03.120 --> 0:06:05.680 we I mean I can't. And I'm talking to my 0:06:05.720 --> 0:06:08.200 family in Georgia and I'm like, you guys have to 0:06:08.200 --> 0:06:12.839 take it seriously, because New York is not special. We are. 0:06:13.200 --> 0:06:15.240 It was always going to grow really fast here because 0:06:15.240 --> 0:06:17.279 we live in such close proximity and there's so many 0:06:17.320 --> 0:06:20.920 of us. But it can happen in other places and 0:06:21.000 --> 0:06:25.240 it already is you see Louisiana. Anyway, I get it. 0:06:25.279 --> 0:06:28.240 And it also for people who have been impacted and 0:06:28.279 --> 0:06:31.920 have lost loved ones to turn on CNN or whatever 0:06:32.000 --> 0:06:35.120 news network and to see that stupid count of the 0:06:35.200 --> 0:06:39.520 deaths like it's a telethon or something like that, ten 0:06:39.520 --> 0:06:41.960 thousand and one, ten thousand and two, you know, and 0:06:42.000 --> 0:06:44.600 it's just it's and I get why they're doing it, 0:06:44.640 --> 0:06:48.120 because it's what people you know, it's it's the fear. 0:06:48.279 --> 0:06:53.360 But it just you can get disconnected from the fact 0:06:53.360 --> 0:06:56.000 that those are real lives that we're using. Up to 0:06:56.040 --> 0:06:58.719 two hundred what was it, two hundred something thousand was 0:06:58.720 --> 0:07:01.479 one of the projections of people who could die before 0:07:01.760 --> 0:07:04.039 we hit before we get to the other side of 0:07:04.080 --> 0:07:07.159 this in the US, and that just No, it's not 0:07:07.320 --> 0:07:09.760 fifty million who died from the Spanish flu one hundred 0:07:09.840 --> 0:07:13.800 years ago, but it's two hundred thousand people. Yeah, so yeah, 0:07:13.840 --> 0:07:18.720 it's really sobering, and you you, I mean, you can't 0:07:18.720 --> 0:07:20.480 think about that stuff all the time because it can 0:07:20.560 --> 0:07:23.600 really weigh you down. So it's like you want to 0:07:23.640 --> 0:07:26.920 stay personally. This weekend, I've tried to not watch the 0:07:26.960 --> 0:07:30.320 news and tried to not watch social media and just 0:07:30.360 --> 0:07:33.400 tried to just live and I did some yardwork and 0:07:33.480 --> 0:07:35.720 it really helped. I treated it like it was a weekend. 0:07:35.960 --> 0:07:38.280 That's one of the problems I think is do you 0:07:38.280 --> 0:07:39.960 feel like the days are just blurring together and the 0:07:39.960 --> 0:07:42.800 weekend's not special anymore. It kind of just feels like 0:07:42.840 --> 0:07:45.840 a continuation. But I truly tried to make it a 0:07:45.880 --> 0:07:49.080 weekend where we slept in and we did some yard 0:07:49.080 --> 0:07:51.920 work and we stayed outside because it was finally nice out. Yeah, 0:07:51.960 --> 0:07:54.160 and just tried to you know, take a break from 0:07:54.160 --> 0:07:54.559 the news. 0:07:54.920 --> 0:07:56.840 Yeah, it did feel like a weekend, like for the 0:07:56.880 --> 0:07:59.120 first weekend because I refuse, Like I remember, there was 0:07:59.160 --> 0:08:01.760 some stuff. It was kind of like overhanging on Friday, 0:08:01.800 --> 0:08:03.440 and I kind of told the team like, yeah, it's 0:08:03.480 --> 0:08:07.120 not that serious, Like everybody, WUSA take this Saturday and 0:08:07.160 --> 0:08:10.920 Sunday to hug on your loved ones who were in 0:08:11.560 --> 0:08:14.120 the house with you, and and you know, sit on 0:08:14.160 --> 0:08:16.480 your front steps if you're able, and go in the 0:08:16.480 --> 0:08:20.240 backyard if you have one, and not work basically, I mean, 0:08:20.280 --> 0:08:22.320 and there are a few things that we do on 0:08:22.360 --> 0:08:24.360 the weekends, like we have for the Literature Academy, we 0:08:24.400 --> 0:08:28.000 have A and a'sk the expert every Sunday, So Tamra, 0:08:28.080 --> 0:08:29.640 I know, had to do some work, but for the 0:08:29.640 --> 0:08:33.160 most part, we're really trying to give people like their weekends. 0:08:33.240 --> 0:08:35.840 So that way there's just a sense of, I don't know, 0:08:35.880 --> 0:08:39.000 bring some sort of sense of normalcy. So yeah, and 0:08:39.000 --> 0:08:42.240 then it's just been like even figuring out this whole 0:08:42.280 --> 0:08:43.520 PPP program. 0:08:43.640 --> 0:08:43.920 Yeah. 0:08:44.080 --> 0:08:46.040 So for those who don't have know PPP program, it's 0:08:46.040 --> 0:08:49.319 the paycheck protection. There's another p IM missing. What's the 0:08:49.480 --> 0:08:52.280 plan plan? Play the hard the easy one. 0:08:52.480 --> 0:08:54.280 So now with PPP, I had to do it. 0:08:54.360 --> 0:08:59.160 Oh I love that. So the PPP program is meant 0:08:59.200 --> 0:09:02.880 for business owners and even that word we use very loosely, 0:09:03.360 --> 0:09:07.000 so proprietors ten ninety nine, folks in independent contractors, people 0:09:07.000 --> 0:09:10.439 who have businesses, even nonprofits that have that employee under 0:09:10.440 --> 0:09:16.280 five hundred people that you could qualify for help. It's 0:09:16.480 --> 0:09:22.440 a loan that becomes a grant if you're GIA, yes, 0:09:22.600 --> 0:09:23.280 forgivable loan. 0:09:23.480 --> 0:09:25.760 That's the big selling point. They're forgivable potentially. 0:09:26.120 --> 0:09:30.480 So at first they were telling us that hey, business 0:09:30.520 --> 0:09:35.640 like your syphony, you can count because they're heavily leaning 0:09:35.679 --> 0:09:40.120 into how many people that you're employing, and we will 0:09:40.120 --> 0:09:44.120 give you two and a half months worth of payroll 0:09:44.120 --> 0:09:45.800 plus a little extra sp like if you have rent 0:09:45.880 --> 0:09:48.840 and some other bills, but mostly they're really leaning into 0:09:48.840 --> 0:09:51.280 your payroll because the purpose of it is for you 0:09:51.360 --> 0:09:53.720 not to let go of anyone. So it's that great 0:09:53.720 --> 0:09:57.120 because honestly, as it relates to my business, it's myself 0:09:57.160 --> 0:09:59.160 and my business partner Jabrill, we are the w two 0:09:59.200 --> 0:10:01.600 workers and everybody else is an independent contractor. And I 0:10:01.600 --> 0:10:04.400 was like, okay, great, we could submit and get two 0:10:04.440 --> 0:10:08.439 and a half months worth of that payroll set aside 0:10:08.480 --> 0:10:11.880 just in case, right, and then as long as after 0:10:11.920 --> 0:10:14.280 that money is dispersed, you keep people employed for eight weeks, 0:10:14.679 --> 0:10:17.440 then that loan becomes forgivable. And then if if you 0:10:17.480 --> 0:10:19.920 don't keep people employed, let's just say you let go 0:10:20.000 --> 0:10:23.000 of half of the people, then half the money is due. 0:10:23.080 --> 0:10:25.120 And there still it feels like you're still working out 0:10:25.240 --> 0:10:27.199 like what it looks like, but it looks like it's 0:10:27.240 --> 0:10:29.480 going to be under four percent the interest on that loan, 0:10:29.520 --> 0:10:30.840 and I think you have up to ten years to 0:10:30.840 --> 0:10:33.160 pay it back. So anyway, I was all like, Okay, 0:10:33.200 --> 0:10:35.600 this is awesome. And now I mean, all of a sudden, 0:10:35.679 --> 0:10:38.440 that of the blue. I guess someone said that there's 0:10:38.440 --> 0:10:43.080 more versions of more interpretations of this Stimulus Care Act 0:10:43.120 --> 0:10:46.920 than the Bible, because now the word really is that no, 0:10:47.160 --> 0:10:50.040 you cannot count your your ten ninety nine workers. So 0:10:50.600 --> 0:10:52.000 which is where most of the people on my team 0:10:52.040 --> 0:10:55.800 are their independent contractors. And the reason, which it makes sense, 0:10:55.840 --> 0:10:58.280 but it's just disappointing. The reason is because the ten 0:10:58.440 --> 0:11:03.000 ninety nine independent contract also can actually claim themselves, so 0:11:03.040 --> 0:11:05.360 they don't want to pay the ten ninety nine worker 0:11:06.000 --> 0:11:08.240 to apply and then you apply for them too, so 0:11:08.280 --> 0:11:10.080 that they're getting basically paid for twice. 0:11:10.840 --> 0:11:13.280 So I was like, where'd you go if you're a 0:11:13.320 --> 0:11:15.040 business owner. I mean, we put the link in the 0:11:15.040 --> 0:11:16.760 show notes last week and I'll do it again to 0:11:16.840 --> 0:11:19.520 the application through the SBA. Is that where you apply 0:11:19.600 --> 0:11:22.000 for PPP or do you go to your like your 0:11:22.040 --> 0:11:23.560 bank or where you start? 0:11:23.679 --> 0:11:26.440 Well, you start with your local bank. Most banks, and 0:11:26.520 --> 0:11:30.120 here's what's so crazy, because applications open on Friday, maybe 0:11:30.200 --> 0:11:32.800 Bank of America, Wells Fargo, they're not taking applications anymore. 0:11:32.920 --> 0:11:35.440 That's crazy, they said. They're so overwhelmed. They're like, nope, 0:11:35.440 --> 0:11:39.440 closing the door. And so in most big banks or 0:11:39.520 --> 0:11:43.520 most banks are only taking applications if you bank with them, 0:11:44.200 --> 0:11:46.800 and so you know, so start with your bank. But 0:11:46.880 --> 0:11:48.440 then you're going to have to do a search. If 0:11:48.480 --> 0:11:51.040 your bank is no longer taking applications, then you're going 0:11:51.120 --> 0:11:52.719 to have to do a search for banks that will 0:11:52.720 --> 0:11:55.840 take applications from people who don't bank with them. So 0:11:55.880 --> 0:11:57.720 that's what I'm kind of doing now because I didn't 0:11:58.280 --> 0:11:59.800 I didn't realize it was going to just be filled 0:11:59.880 --> 0:12:03.040 up so quickly. So my my CFO is quickly working 0:12:03.080 --> 0:12:06.160 on submitting our application to a bank that you don't 0:12:06.160 --> 0:12:08.599 have to bank with in order to in order to 0:12:08.640 --> 0:12:13.640 apply with them. So yeah, it's just it's just I mean, 0:12:13.640 --> 0:12:17.520 when I say a mess, I mean a hot mess, 0:12:17.600 --> 0:12:21.160 a two year old temper tantrum because you say, you know, 0:12:21.240 --> 0:12:23.560 no more, no more animal crackers, because you're going to 0:12:23.559 --> 0:12:25.000 have dinner soon. Mess. 0:12:25.040 --> 0:12:27.600 I mean on the because we've been following it to 0:12:28.040 --> 0:12:30.360 our small business reporter, are really following it, and to me, 0:12:30.400 --> 0:12:32.600 it seems like, well, the government is not always known 0:12:32.640 --> 0:12:34.560 for being the best at rolling out new programs, let 0:12:34.640 --> 0:12:37.760 alone new programs that it talks about on Tuesday and 0:12:37.760 --> 0:12:40.800 then launches on Friday, like this has been really quickly 0:12:40.840 --> 0:12:44.000 slapped together. And I mean, if I were a small 0:12:44.040 --> 0:12:47.520 business owner right now wanting to apply and running into issues. 0:12:47.559 --> 0:12:49.640 I would just say be patient and keep trying and 0:12:49.679 --> 0:12:54.440 be persistent because eventually, hopefully people will figure out. The 0:12:54.480 --> 0:12:57.920 banks are catching up with the government's stimulus package as 0:12:57.960 --> 0:12:59.920 much as you know anyone else right now, and they 0:13:00.040 --> 0:13:02.520 need time to get the right you know, people in 0:13:02.559 --> 0:13:05.120 place and whatnot. And also they're struggling too. You know, 0:13:05.280 --> 0:13:07.200 some banks have had to like lay off people or 0:13:07.360 --> 0:13:09.640 you know, furlough people because of what's going on. So 0:13:10.200 --> 0:13:14.600 I don't know, be patient, try hard, contact community banks, 0:13:14.600 --> 0:13:16.880 credit unions, like smaller banks that may not be getting 0:13:16.880 --> 0:13:18.880 as overwhelmed as the big brand names are. 0:13:19.400 --> 0:13:21.400 Right yep. I was going to say that, yeah, that 0:13:21.480 --> 0:13:23.959 a lot of the smaller banks are definitely they might 0:13:24.000 --> 0:13:26.680 have some space there. And also to call ahead of time, 0:13:26.720 --> 0:13:28.360 ask to speak to the business banker so you know 0:13:28.400 --> 0:13:30.360 what to bring. So because every bank is kind of 0:13:30.400 --> 0:13:31.800 like figuring out and making up their. 0:13:31.679 --> 0:13:34.040 Own rules, so you can go in person to the 0:13:34.040 --> 0:13:35.400 bank for. 0:13:35.400 --> 0:13:37.600 Some people, Yeah, there's some people who actually went, like 0:13:37.679 --> 0:13:39.920 a friend of mine, she went and she and they 0:13:40.040 --> 0:13:45.520 made her come in person. So yeah, so definitely call 0:13:45.600 --> 0:13:47.880 the bank and ask those questions. Do I have to 0:13:47.880 --> 0:13:50.800 come in person? Do I have to bank here, it's 0:13:50.800 --> 0:13:53.480 so kind of open an account. Now what do you 0:13:53.600 --> 0:13:56.800 need because like I said, every you know, Chase Bank, 0:13:56.840 --> 0:13:59.400 for example, has their own application. So yes, there's the 0:13:59.400 --> 0:14:02.720 there's the BA application, but then Chase has their own application. 0:14:02.800 --> 0:14:05.080 So you're wanting to know, like what is the application 0:14:05.160 --> 0:14:07.439 process because well, you don't want to think about this. 0:14:08.280 --> 0:14:10.960 Thousands of people are going to be applying, hundreds of thousands, 0:14:11.040 --> 0:14:13.920 right and if this is not like normal times where 0:14:14.080 --> 0:14:16.680 they can coach you too. Oh your application got kicked 0:14:16.679 --> 0:14:19.280 back because you forgot this. Don't be that person because 0:14:19.320 --> 0:14:21.160 it might just be kickback. Like oh yeah, girl, you're 0:14:21.160 --> 0:14:22.840 not getting nothing because we told you to fill this 0:14:22.880 --> 0:14:26.120 out properly. So making sure that you're going to apply 0:14:26.280 --> 0:14:29.840 that you take the time to give them everything they 0:14:29.880 --> 0:14:33.000 ask for. Yeah, so you know you have the opportunity 0:14:33.040 --> 0:14:36.720 to potentially get money. But yeah, that was just like 0:14:36.760 --> 0:14:38.800 the only cause, like that's significantly less because we have 0:14:38.840 --> 0:14:40.920 like twenty people on the team and there's a difference 0:14:40.960 --> 0:14:43.160 between twenty people payroll to two people. 0:14:43.360 --> 0:14:45.520 Well, we've got a couple of questions relating to the 0:14:45.560 --> 0:14:48.760 stimulus package. That will get to when we answer questions 0:14:49.400 --> 0:14:52.000 and the next segment. Just FYI, okay, if you guys 0:14:52.240 --> 0:14:54.520 do you guys want keep sending your questions and they've 0:14:54.520 --> 0:14:57.760 been great. Go to brand Ambission podcast dot com ask 0:14:57.840 --> 0:15:01.080 us ask us anything, or you can send me notes 0:15:01.120 --> 0:15:04.160 directly on Instagram. We're at brand a Mission Podcast or 0:15:04.280 --> 0:15:08.720 email Brando Mission Podcast at gmail dot com. Back, So 0:15:08.760 --> 0:15:10.680 why don't we take a quick break and we will 0:15:10.680 --> 0:15:12.560 come back and get into some of those questions. 0:15:42.720 --> 0:15:49.840 So it's time for question DA questions. Honestly, I really 0:15:49.840 --> 0:15:52.800 love the questions segment because folks ask such great questions 0:15:52.800 --> 0:15:56.360 and sometimes I'm like, oh, good ones. What questions we 0:15:56.400 --> 0:15:57.280 have in the mail bag? 0:15:57.640 --> 0:16:01.080 As I mentioned, we have a couple of questions from 0:16:01.120 --> 0:16:03.760 people who are wondering, you know, what should they be 0:16:03.840 --> 0:16:06.520 doing now that there is this stimulus package coming out. 0:16:06.880 --> 0:16:09.640 This question comes from with someone who wanted to remain anonymous. 0:16:10.120 --> 0:16:13.520 She says, I actually haven't filed taxes in the last 0:16:13.600 --> 0:16:15.840 couple of years. Does this mean I will not qualify 0:16:15.880 --> 0:16:18.720 for a stimulus check? If not, what can I do 0:16:19.200 --> 0:16:21.920 so that I can potentially qualify? This is a really 0:16:22.000 --> 0:16:25.800 good question because we mentioned last week, so these checks 0:16:25.840 --> 0:16:27.960 will be coming in the next couple of weeks or so. 0:16:28.200 --> 0:16:30.240 There's still not a firm date on that, but the 0:16:30.240 --> 0:16:32.520 way that's happening, so if you file taxes in twenty 0:16:32.560 --> 0:16:35.360 eighteen or twenty nineteen, the IRS is going to use 0:16:35.400 --> 0:16:38.160 that tax return to see if you're eligible or not. 0:16:38.440 --> 0:16:40.840 So what that means is, if you earned a lot 0:16:40.840 --> 0:16:43.280 more money in twenty eighteen than you did in twenty nineteen, 0:16:43.320 --> 0:16:45.320 you're going to want to follow your twenty nineteen taxes 0:16:45.400 --> 0:16:48.280 asap so that they can look at your lower income 0:16:48.320 --> 0:16:51.600 this year because if you have higher income, I believe 0:16:51.600 --> 0:16:54.080 they've capped it at around ninety nine thousand dollars for 0:16:54.080 --> 0:16:57.160 an individual. If you have higher income, you won't qualify 0:16:57.240 --> 0:17:00.080 for any stimulus money. So let's say you earned one 0:17:00.120 --> 0:17:03.320 hundred thousand dollars in twenty eighteen, and your freelancer in 0:17:03.360 --> 0:17:05.879 twenty nineteen it was super slow and you earned fifty 0:17:05.960 --> 0:17:08.480 thousand dollars. You're going to want to file that twenty 0:17:08.560 --> 0:17:11.640 nineteen tax return so that it reflects that lower income, 0:17:11.760 --> 0:17:14.879 so you will qualify for a check. If not, Like 0:17:14.920 --> 0:17:17.280 I said, they'll look at twenty eighteen's tax returns and 0:17:17.320 --> 0:17:19.960 that if you earn more that year, you may not 0:17:20.080 --> 0:17:23.480 qualify that being said, like she asks, what do I 0:17:23.520 --> 0:17:26.080 do if I didn't file taxes those two years? So 0:17:26.160 --> 0:17:28.440 what the IRS is doing is they're going to look 0:17:28.480 --> 0:17:32.240 at social Security statements to see if people can be eligible. 0:17:32.640 --> 0:17:34.760 Or you can quickly go ahead and file your twenty 0:17:34.840 --> 0:17:38.080 nineteen tax It's just a simple tax return for twenty nineteen. 0:17:38.119 --> 0:17:40.479 It's not too late, and they can use the income 0:17:40.640 --> 0:17:43.960 or whatever you put on that tax return right now, 0:17:44.119 --> 0:17:47.439 so it's not too late. And whatever bank account you 0:17:47.560 --> 0:17:51.760 have connected to your your refund in the past, whatever 0:17:52.080 --> 0:17:54.480 wherever it's been direct deposited, if that's how you've gotten 0:17:54.480 --> 0:17:56.919 your refund, I think most people have, that's where the 0:17:56.920 --> 0:18:01.560 IRS will be sending it. So get on it. And 0:18:01.600 --> 0:18:03.400 I'm going to put the same resource links that were 0:18:03.400 --> 0:18:05.840 in last week's show in this show. Note says, well 0:18:05.960 --> 0:18:09.640 for you guys to check. All right, and let's take 0:18:09.720 --> 0:18:13.920 our next question from a listener will call Arti. Artie says, 0:18:13.960 --> 0:18:17.000 God bless you both. During this time, the President announced 0:18:17.040 --> 0:18:19.680 that interest on federal student loans will be discontinued until 0:18:19.720 --> 0:18:22.919 further notice. My student loan provider said they implemented this, 0:18:23.000 --> 0:18:26.040 but they said my payments will stay the same shouldn't 0:18:26.040 --> 0:18:28.480 my fixed monthly payment go down as a result of 0:18:28.520 --> 0:18:32.280 interest no longer being applied, Artie, So she sent this 0:18:32.320 --> 0:18:35.640 email on March twenty third. We just checked on this 0:18:35.960 --> 0:18:39.439 and there's good news here. So the great news is 0:18:39.440 --> 0:18:44.000 that actually the government has suspended student loan payments on 0:18:44.040 --> 0:18:48.200 federal loans from March thirteen through September thirtieth, which means 0:18:48.359 --> 0:18:50.119 if you have federal student loans, you don't have to 0:18:50.160 --> 0:18:53.960 pay anything. What they've done is automatically put federal student 0:18:54.000 --> 0:18:58.120 loan borrowers into forbearons. On top of that, typically when 0:18:58.160 --> 0:19:01.239 you're put a loan in fourbearans is still accruing, so 0:19:01.280 --> 0:19:02.919 although you don't have to pay anything, you still have 0:19:03.000 --> 0:19:03.960 interest piling up. 0:19:04.200 --> 0:19:06.760 And sometimes you can make interest payments because I used 0:19:06.760 --> 0:19:09.159 to be for Baron's Queen and so I used to 0:19:09.200 --> 0:19:12.720 make the interest payments just so it wouldn't accrue on 0:19:12.800 --> 0:19:14.760 top of my principle. So just know that this is 0:19:14.880 --> 0:19:16.280 a second break they're giving. 0:19:16.000 --> 0:19:20.320 You exactly, so there's not actually any interest accruing even 0:19:20.320 --> 0:19:23.800 though you're in forbearans. So this is a double wamy benefit. 0:19:23.960 --> 0:19:27.040 So Alretie, you should call your servicer back and make 0:19:27.080 --> 0:19:29.640 sure that they know that this is the new law 0:19:29.640 --> 0:19:32.080 that's passed. And like we've said before, a lot of 0:19:32.080 --> 0:19:34.520 companies like banks and lenders, they're catching up with the 0:19:34.560 --> 0:19:37.320 news just like we are. So if you're getting confusing 0:19:37.680 --> 0:19:40.639 advice that conflicts with what you find on federal websites, 0:19:40.920 --> 0:19:44.320 for example, definitely go to studentaid dot gov and click 0:19:44.359 --> 0:19:45.679 on their corona we I'll put a link to this 0:19:45.720 --> 0:19:47.119 in the show notes. I'll save you the trouble. Go 0:19:47.160 --> 0:19:49.320 the show notes and I'll put a link to the 0:19:49.359 --> 0:19:52.920 Coronavirus Federal student Loan page that you guys can check 0:19:52.960 --> 0:19:57.040 the information. Call your servicer and if you get confusing advice, 0:19:57.080 --> 0:19:59.119 I would just escalate it to a manager until you 0:19:59.480 --> 0:20:02.440 get someone on the phone who knows what they're talking about. Yeah, 0:20:02.440 --> 0:20:04.919 because yeah, you shouldn't have to pay anything. You can 0:20:04.960 --> 0:20:08.240 still choose to pay, and say that if you can, 0:20:08.400 --> 0:20:10.080 why stop, right, I mean. 0:20:10.880 --> 0:20:13.919