WEBVTT - Balancing Fortune and Family (How-To Monday) 0:00:00.120 --> 0:00:03.760 Ba fam, we have another how to throw back for you, 0:00:03.920 --> 0:00:06.320 of course we do. We're looking back at some of 0:00:06.360 --> 0:00:10.600 our favorite episodes from days past for memorable guests, too 0:00:10.640 --> 0:00:13.600 unforgettable moments. There's still so much to learn from the 0:00:13.720 --> 0:00:32.760 b A Vault. Take a listen, willya hey. 0:00:33.040 --> 0:00:35.880 Hey, hey we're back. 0:00:36.280 --> 0:00:41.440 We're black, We're brown, ambit shit yeah, Aum, Tiffany, Hey, guys, 0:00:41.479 --> 0:00:46.560 it's Mandy. Yeah, manage. It feels we're taping like Midday. 0:00:46.760 --> 0:00:48.960 I know, but you know, we've been the rules for 0:00:49.040 --> 0:00:52.000 our friends and we have a very special friend flash 0:00:52.159 --> 0:00:55.280 guest today. Do you want to do the honors to? 0:00:55.360 --> 0:00:58.440 Excited that? Well? She is? 0:00:58.520 --> 0:01:00.600 You might have seen her. She actually her own show 0:01:00.640 --> 0:01:02.360 at one point. I mean you've seen her. I'm shore 0:01:02.400 --> 0:01:05.600 on the Today Show for our news to Robbie, who 0:01:05.720 --> 0:01:09.560 is amazing. Not only is she a stellar financial expert 0:01:09.560 --> 0:01:14.440 and educators, recently, which is so awesome, started doing stand up. 0:01:14.520 --> 0:01:16.040 How randomly cool is that? 0:01:16.440 --> 0:01:19.559 I forgot about that? Yeah, Nush's awesome. I've known news 0:01:19.600 --> 0:01:22.120 for a long time. She's authored I don't know three 0:01:22.200 --> 0:01:25.319 or four different personal finance books. She has a massively 0:01:25.400 --> 0:01:29.200 popular podcast called so Money. The So Money Podcast. She 0:01:29.280 --> 0:01:31.800 was one of the first personal finance influencers, I think, 0:01:31.840 --> 0:01:34.880 to launch a podcast like that, And it's been such 0:01:34.880 --> 0:01:39.440 an amazing, such an amazing journey for her, and I'm 0:01:39.440 --> 0:01:40.880 so excited to have her on the show because one 0:01:40.880 --> 0:01:42.480 of the reasons we've wanted for New Shawn for a 0:01:42.480 --> 0:01:45.240 while is because both of us have been talking a 0:01:45.280 --> 0:01:48.720 lot about, you know, planning our careers and our paths 0:01:48.720 --> 0:01:52.280 to motherhood at the same time and trying to prepare 0:01:52.520 --> 0:01:55.560 as best we can for what lies ahead. And I 0:01:55.560 --> 0:01:58.720 can't I couldn't think of anyone who's who's been more 0:01:58.760 --> 0:02:03.880 candid about becoming a mother and running several businesses than Farnush, 0:02:03.920 --> 0:02:06.280 And I just knew she'd be the perfect person to, 0:02:06.760 --> 0:02:09.520 I don't know, make us feel better about what's going 0:02:09.560 --> 0:02:13.240 on and give some great little pearls of wisdom. On 0:02:13.360 --> 0:02:17.840 top of that, varnushe is never one to stay in 0:02:17.880 --> 0:02:21.799 one place for too long. She just launched a new business, 0:02:22.120 --> 0:02:25.560 a new side project called stax House, which is a 0:02:25.600 --> 0:02:29.160 financial empowerment pop up that she'll talk about on today's 0:02:29.200 --> 0:02:29.880 show as well. 0:02:31.120 --> 0:02:33.239 Yeah, I'm excited because she's just a fun, all around, 0:02:33.320 --> 0:02:36.040 like dope human being and her kids are super adorable. 0:02:36.639 --> 0:02:40.840 Speaking of motherhood, I spent all morning on the phone. 0:02:42.120 --> 0:02:44.400 So I never had to enroll a kid before, like 0:02:44.440 --> 0:02:46.239 in a school, and I grew up and I don't 0:02:46.240 --> 0:02:48.400 know how it was where you grew up, but you know, 0:02:48.440 --> 0:02:49.880 you just used to be like, oh, I moved to 0:02:49.919 --> 0:02:52.200 the town, and this is the school that's close to 0:02:52.240 --> 0:02:55.080 my house. You enroll your kid in New York. It 0:02:55.240 --> 0:02:58.960 is so different. So I've been getting my my niece, 0:03:00.160 --> 0:03:01.959 well not my niece by blood, but you know, my 0:03:02.040 --> 0:03:03.080 niece by by love. 0:03:04.200 --> 0:03:06.560 So for her mom, who moved here last year to NewYork. 0:03:06.639 --> 0:03:10.440 Last year, she couldn't get her into school school. 0:03:10.919 --> 0:03:13.280 A public school that she wanted because I guess she 0:03:13.440 --> 0:03:15.760 moved like right at the school year kind of time. 0:03:15.840 --> 0:03:17.840 So I understood that because there's like a lottery system. 0:03:18.040 --> 0:03:20.840 But this year she applied extra early. You get to 0:03:20.919 --> 0:03:23.760 choose like four schools. She chose four schools and was 0:03:23.800 --> 0:03:25.440 not matched to any of them. So her mother was 0:03:25.480 --> 0:03:29.000 totally freaking out. So I was like, that seems weird 0:03:29.000 --> 0:03:31.600 and crazy. So I posted it on Facebook, like, hey 0:03:31.600 --> 0:03:33.560 Newark people, how does this work? 0:03:34.160 --> 0:03:35.840 And so isn't that weird? 0:03:35.880 --> 0:03:40.000 Like apparently this is true. You can choose your schools. 0:03:40.880 --> 0:03:42.880 And these are public schools. These are not charter schools, 0:03:42.880 --> 0:03:45.800 these are not these are just regular public schools near 0:03:45.840 --> 0:03:46.760 your house. 0:03:46.960 --> 0:03:49.360 And not get matched. I don't know how you're not 0:03:49.480 --> 0:03:50.400 matched to four. 0:03:51.080 --> 0:03:53.000 So I've been on the phone, honestly, but now I've 0:03:53.000 --> 0:03:55.640 spoken to the CEO of the United Way. I spoken 0:03:55.680 --> 0:03:59.680 to like an executive at the charter school. I spoken 0:03:59.720 --> 0:04:04.000 to a board member at the Newark Board of Education 0:04:04.080 --> 0:04:06.400 because I'm like, no, this is not right, and this 0:04:06.480 --> 0:04:09.120 is not just for my niece, but just in general, 0:04:09.360 --> 0:04:11.840 what is going on? And like, you know, I wonder 0:04:11.920 --> 0:04:15.280 if any parents out there have experienced with like this 0:04:15.280 --> 0:04:18.479 whole lottery system. I'd heard of it before, but I 0:04:18.480 --> 0:04:22.360 didn't realize that it could. You could literally not get matched. 0:04:23.160 --> 0:04:25.640 It's a public school or are they stublic? 0:04:25.760 --> 0:04:25.839 No? 0:04:25.960 --> 0:04:28.800 These are straight public, like not sometimes you can have 0:04:28.839 --> 0:04:30.840 like a charter school that's like we're like a public school, 0:04:30.960 --> 0:04:34.159 and it's like, no, this is straight run of the mill. 0:04:34.240 --> 0:04:35.839 I mean, these are good public schools, but they're public 0:04:35.839 --> 0:04:38.520 schools nonetheless. So isn't that crazy that you can literally 0:04:39.480 --> 0:04:41.280 like not get into a public school four of them 0:04:41.320 --> 0:04:42.800 by your house? Yeah? 0:04:42.839 --> 0:04:45.160 Man, New England is no like Northeast is no joke, 0:04:45.279 --> 0:04:47.280 New York, New jert Like the things I've learned about 0:04:47.279 --> 0:04:49.480 public education up here, I makes them want to move 0:04:49.480 --> 0:04:52.680 back to Georgia real quick. When I was growing up, yeah, 0:04:52.680 --> 0:04:55.200 it was just like you were saying, like the total opposite. 0:04:55.240 --> 0:04:57.400 You know, what's your school? Just look, you know, look 0:04:57.440 --> 0:04:59.920 at where you're zoned. You know, you have a choice 0:05:00.120 --> 0:05:02.560 one high school, one middle school, maybe two high schools 0:05:02.560 --> 0:05:06.039 if you're lucky. Yep, and that's it. Like the bus 0:05:06.040 --> 0:05:09.279 picks you up, you go, and there's no choice. It's 0:05:09.360 --> 0:05:11.880 just totally different here. How old is your niece? 0:05:12.680 --> 0:05:14.719 She is eight, she's going to third grade. 0:05:15.000 --> 0:05:16.960 Third grade, so it's like elementary school. 0:05:18.040 --> 0:05:18.320 M hm. 0:05:18.440 --> 0:05:20.800 So I'm just like, excuse me. I was trying to 0:05:20.839 --> 0:05:22.640 meet it and I couldn't press the meat button in time. 0:05:23.480 --> 0:05:26.880 It's okay, but yeah, I just so this is not 0:05:26.920 --> 0:05:29.080 just for her, this is just in general. So I'm 0:05:29.120 --> 0:05:31.760 just trying to figure out. So we've gotten like a solution. 0:05:31.839 --> 0:05:35.120 Apparently it's like some family center place that you can 0:05:35.160 --> 0:05:38.000 go to and opens up the twenty ninth of this 0:05:38.080 --> 0:05:40.359 month and you can go and kind of be like, 0:05:40.560 --> 0:05:41.920 so I. 0:05:41.839 --> 0:05:43.640 Didn't get into these schools. What do I do? 0:05:43.920 --> 0:05:47.000 But the earlier you go, the better, and so that's 0:05:47.000 --> 0:05:50.200 what she's going to do. And then so I just 0:05:51.000 --> 0:05:52.240 you know, and then you you know, you pray for 0:05:52.279 --> 0:05:54.240 the best. I don't because I don't know, it's not guaranteed. 0:05:54.279 --> 0:05:57.400 We can go to this family center place and they're like, yeah, girls, 0:05:57.400 --> 0:05:59.600 so you and everybody else who wants a good school. 0:06:00.160 --> 0:06:03.080 But I mean, I'm hopeful. But it's also just disheartening 0:06:03.120 --> 0:06:05.120 because it's like, so what do you do? Do you 0:06:05.160 --> 0:06:07.200 do you either so it's like one or two choices. 0:06:07.480 --> 0:06:10.800 You either, well three, One you send your kid to 0:06:11.400 --> 0:06:14.560 a school where the kids are failing, which is like what, 0:06:14.800 --> 0:06:16.039 you know, why would a parent want that? 0:06:16.520 --> 0:06:19.400 Two you send your kids to a decent school. But 0:06:19.400 --> 0:06:22.040 it's super far like Nowrark, it's huge, Like we live 0:06:22.080 --> 0:06:24.600 in the Northward. There are great schools in the Southward. 0:06:24.640 --> 0:06:27.440 You're looking at like a twenty minute drive sometimes, you know, 0:06:27.480 --> 0:06:29.240 depending on you're going through traffic and stuff. You know, 0:06:29.320 --> 0:06:32.480 like that's not a small thing to take your third grader, 0:06:32.920 --> 0:06:34.840 you know. And then third choices that you put them 0:06:34.880 --> 0:06:36.680 in private school. And that's what she did last year. 0:06:36.720 --> 0:06:39.520 She put her in a parochial school, but you know, 0:06:40.520 --> 0:06:43.000 it was fairly inexpensive as far as Catholic schools go, 0:06:43.400 --> 0:06:45.440 but it was still money, you know. And she's like, 0:06:45.480 --> 0:06:47.760 we really, we just bought a home. We're trying to 0:06:47.800 --> 0:06:53.560 save spending you know, money every month for private school when. 0:06:53.480 --> 0:06:54.440 We paid taxes. 0:06:54.520 --> 0:06:56.440 We bought a house here, we started a business here, 0:06:56.480 --> 0:06:58.440 we paid taxes here, we went to college here. 0:06:58.800 --> 0:07:02.719 Like I mean, I guess I'm not looking for to 0:07:02.760 --> 0:07:03.880 be overly. 0:07:03.560 --> 0:07:07.880 Accommodated, just accommodated like a like a normal parent should, 0:07:07.960 --> 0:07:10.240 you know. So it's just been an interesting process and 0:07:10.280 --> 0:07:13.320 I'm like, wow, you know, how many parents you know 0:07:13.440 --> 0:07:15.920 don't have the capacity to advocate for their child. 0:07:15.920 --> 0:07:16.480 What do they do? 0:07:16.600 --> 0:07:19.920 You know, that's really disheartening. 0:07:21.040 --> 0:07:22.480 Yeah, so I mean I'll give you guys an update. 0:07:22.480 --> 0:07:24.240 You know, by this time next week, I should have 0:07:24.320 --> 0:07:26.680 like an update, so hopefully it all works out. But 0:07:27.000 --> 0:07:29.720 ultimately what I want is that I'm sharing kind of 0:07:29.760 --> 0:07:31.640 like the solutions that people have given me, like on 0:07:31.680 --> 0:07:34.200 my Facebook page, because that's why I posted the question, 0:07:34.400 --> 0:07:36.800 so you know, I mean, because I know she's not 0:07:36.800 --> 0:07:38.520 the only parent, and that was the one request that 0:07:38.720 --> 0:07:42.120 when I get some feedback, share the solutions. And honestly, 0:07:42.120 --> 0:07:44.400 the solution has just been to go to this family's 0:07:44.440 --> 0:07:47.840 center and and just share what's going on, and they're 0:07:47.880 --> 0:07:49.040 supposed to be able to help. 0:07:49.080 --> 0:07:50.679 And so I mean. 0:07:50.880 --> 0:07:53.440 That's literally everybody who I message that's been the same 0:07:53.640 --> 0:07:58.040 feedback from, you know, the the charter school executive, the 0:07:58.160 --> 0:08:00.800 CEO of the United Way, the Board of Education. Remember, 0:08:00.800 --> 0:08:02.920 every single person said the same thing. So I'm like, well, 0:08:03.000 --> 0:08:05.200 let's hope that that's a real solution, you know. 0:08:06.480 --> 0:08:08.600 I mean, just finding it, like daycare is hard enough, 0:08:09.400 --> 0:08:12.320 what then yeah, like paying for you know, paying for 0:08:12.400 --> 0:08:14.360 K through twelve, if you have to send your kid 0:08:14.400 --> 0:08:16.320 to private school, which some parents up to do if 0:08:16.320 --> 0:08:19.480 schools aren't good, and then think about the cost of 0:08:19.480 --> 0:08:20.480 college on top of that. 0:08:20.600 --> 0:08:24.800 It's just yeah, it's just exactly and it's not Honestly, it's 0:08:24.840 --> 0:08:27.600 one of the reasons why, like Newark was under state 0:08:27.680 --> 0:08:31.160 control for like thirty years something crazy. This is the 0:08:31.240 --> 0:08:34.719 first year that they're finally able to manage their own 0:08:34.760 --> 0:08:37.200 schools because New York schools were doing so poorly public 0:08:37.200 --> 0:08:40.880 schools that the state took over, and so it's crawling 0:08:40.880 --> 0:08:42.640 its way out of that, and if they want families 0:08:42.679 --> 0:08:45.760 to move here to Newark, you know, then they have 0:08:45.840 --> 0:08:48.720 to provide a way for them to have access to 0:08:49.679 --> 0:08:53.280 free and fair and good public education or else people 0:08:53.320 --> 0:08:55.520 won't stay here. I know, I won't let me wait 0:08:55.640 --> 0:08:57.760 till super baby gets here. If it's a problem getting 0:08:57.760 --> 0:08:58.600 my baby into like. 0:08:58.559 --> 0:08:59.160 A good school. 0:08:59.200 --> 0:09:01.199 Someone's like, well, girl, you gon have the money to 0:09:01.240 --> 0:09:02.719 go to public private school, And I'm like, well, first 0:09:02.720 --> 0:09:05.040 of all, I grew up in Westfield, which has one 0:09:05.040 --> 0:09:08.440 of the best school systems in the state. My parents 0:09:08.440 --> 0:09:10.880 purposely moved there because they were like, either do we 0:09:10.920 --> 0:09:13.840 pay for private school for five girls or do we 0:09:13.880 --> 0:09:16.920 pay taxes? And they opted for taxes, so you should 0:09:16.920 --> 0:09:18.640 be able to say that. So no, my kids will 0:09:18.640 --> 0:09:20.960 go to public school if it's a good public school. 0:09:21.280 --> 0:09:23.160 I have no problem with that. But they have to 0:09:23.200 --> 0:09:25.960 be available to them. So yeah, you know, this is 0:09:25.960 --> 0:09:28.480 I mean, like I said, this is it's been very 0:09:28.480 --> 0:09:32.839 interesting like this morning, Like, you know, so this is 0:09:32.880 --> 0:09:34.640 what it is to assurance. 0:09:34.880 --> 0:09:36.800 Well, did you on the on the bright side, I 0:09:36.800 --> 0:09:39.840 mean speaking of like the cost of education. So following 0:09:40.040 --> 0:09:42.760 candidates for twenty twenty, because it's never too early to 0:09:42.760 --> 0:09:47.560 think about twenty twenty, Elizabeth Warren, Democratic candidate for the 0:09:47.600 --> 0:09:51.640 nomination presidential nomination. She's released a plan. She's like one 0:09:51.640 --> 0:09:54.600 of the only candidates who's actually releasing policy initiatives. So 0:09:54.960 --> 0:09:58.080 that's what I'm looking at, is candidate's policies. And today 0:09:58.120 --> 0:10:00.439 she came out and rolled out a plan for what 0:10:00.679 --> 0:10:05.600 she would consider. She'd actually considered canceling student loan debt, 0:10:05.679 --> 0:10:08.160 up to fifty thousand dollars of student loan debt for 0:10:08.160 --> 0:10:12.480 forty two million Americans in this new policy planning right, 0:10:13.200 --> 0:10:15.000 and the way she would pay for it is a 0:10:15.000 --> 0:10:17.560 few months ago when she first rolled out her candidacy, 0:10:17.640 --> 0:10:19.520 or a couple months ago, she rolled out a new 0:10:19.600 --> 0:10:23.160 private wealth tax, which would essentially put higher taxes on 0:10:23.200 --> 0:10:25.839 the rich, which we know recent tax reform did nothing, 0:10:26.080 --> 0:10:29.000 you know to that effect. So she would raise taxes 0:10:29.040 --> 0:10:32.280 on the uber wealthy, and then with that increased tax revenue, 0:10:33.040 --> 0:10:36.200 she's talking about passing that on to student loan borrowers 0:10:36.200 --> 0:10:39.360 to help them have up to fifty thousand dollars of 0:10:39.360 --> 0:10:43.720 their student loans, their student loan debt completely eliminated, which 0:10:43.920 --> 0:10:48.480 would just change lives. I mean, talk about starting from behind. 0:10:49.440 --> 0:10:52.960 That would be huge, so huge. 0:10:54.800 --> 0:10:54.880 No. 0:10:55.280 --> 0:10:57.480 I saw that like pop up in my in my feed, 0:10:57.520 --> 0:11:00.640 and I was like, honestly, that is an amazing idea, 0:11:00.720 --> 0:11:04.480 And yeah, I think I mean that just I don't know, 0:11:04.600 --> 0:11:08.200 Like I look at my mentee's she graduated law school. 0:11:08.280 --> 0:11:11.400 She's now working as a lawyer, but when she first graduated, 0:11:11.440 --> 0:11:12.800 she was like, what am I going to do? My 0:11:13.480 --> 0:11:18.080 student loans are nine hundred dollars a month? And I'm like, what, 0:11:18.960 --> 0:11:22.000 there are a mortgage payment? I don't even you know, 0:11:22.000 --> 0:11:23.360 but I mean, I'm sure there are private loans. I'm 0:11:23.360 --> 0:11:27.680 assuming that, you know, Senator Warren is talking about public loans, 0:11:27.720 --> 0:11:29.920 but still student loans are crippling. 0:11:30.320 --> 0:11:34.400 I wish that was my mortgage payment anyway, property taxes. 0:11:34.559 --> 0:11:37.400 If you live in deep South Jersey or in the South. 0:11:37.920 --> 0:11:40.960 No, but for real. So that was just fascinating to me. 0:11:41.200 --> 0:11:44.080 And you know, especially when you look at stats that 0:11:44.120 --> 0:11:46.480 have shown, you know, everyone was so excited about public 0:11:46.520 --> 0:11:48.960 service loan forgiveness program and how it was meant to 0:11:49.080 --> 0:11:51.920 forgive student loan debt for people who took jobs and 0:11:52.000 --> 0:11:54.680 career paths and nonprofit or government work, only to find 0:11:54.679 --> 0:11:57.520 out that very few people really qualified because there were 0:11:57.520 --> 0:12:02.839 so many asterisks next to the qualification rules, so you know, 0:12:02.960 --> 0:12:06.280 there's the student loan system is still so broken. So 0:12:06.280 --> 0:12:08.480 that's not as I'm looking toward twenty twenty and what 0:12:08.520 --> 0:12:11.240 candidates have to say, like I really want to see 0:12:11.280 --> 0:12:15.320 some actual policies with you know, ways to pay for them. 0:12:15.440 --> 0:12:17.960 And it seems like Lizzie Warren so far has at 0:12:18.040 --> 0:12:21.760 least a plan to pay for such a program. And 0:12:21.800 --> 0:12:24.400 the implications for the economy are just huge, Like if 0:12:24.640 --> 0:12:26.800 it's not just about giving people a free ride, it's 0:12:26.880 --> 0:12:29.960 like with fifty thousand dollars off their back, imagine what 0:12:30.000 --> 0:12:31.760 you could do, you know, qualify for a mortgage or 0:12:31.800 --> 0:12:34.400 what's you know, freaking out because millennials aren't you know, 0:12:34.440 --> 0:12:37.680 getting into the home home. You can start a business, right, 0:12:37.720 --> 0:12:41.440 start a business, maybe not rack up credit card debt 0:12:41.480 --> 0:12:44.959 to finance your life, get out of the rent trap. 0:12:45.120 --> 0:12:49.000 Like there's there's so much opportunity. And when you also 0:12:49.200 --> 0:12:52.720 couple that with like stats on how disproportionate the student 0:12:52.760 --> 0:12:57.040 loan debt crisis impacts communities of color, you know, who 0:12:57.080 --> 0:12:58.960 are we really talking about when we when we say 0:12:59.120 --> 0:13:01.760 who will really benefit it from the duck canslation it 0:13:01.800 --> 0:13:04.880 can be people of color in a big way who 0:13:04.920 --> 0:13:07.880 already or so behind. So that was a bit of 0:13:08.040 --> 0:13:09.040 good news. 0:13:09.520 --> 0:13:11.160 For next week. Don't forget to remind me. I'm like 0:13:11.200 --> 0:13:12.520 I've been Did I tell you that I was looking 0:13:12.520 --> 0:13:13.640 for a new financial planner? 0:13:13.880 --> 0:13:15.360 Yes, ma'am. We talked about that. 0:13:16.360 --> 0:13:18.280 So but I'm gonna i'll give you guys the update 0:13:18.320 --> 0:13:20.400 of like, so I've been interviewing. I think I interviewed 0:13:20.440 --> 0:13:22.559 like I want to say, five or six people last week, 0:13:22.559 --> 0:13:24.680 and I have like two or three more this week. 0:13:25.000 --> 0:13:26.920 So I'll give you a little update. A couple of 0:13:26.960 --> 0:13:28.000 people I was like. 0:13:28.040 --> 0:13:31.080 Yikes, are you sure you know how to budget, let 0:13:31.120 --> 0:13:32.199 alone financially planned? 0:13:32.200 --> 0:13:34.400 But you know, and some people were really awesome and 0:13:34.480 --> 0:13:35.720 some people were really aggressive. 0:13:35.760 --> 0:13:37.840 So I'll give you guys a update once I finished 0:13:37.840 --> 0:13:41.800 all of my a lot of my interviews and just 0:13:41.840 --> 0:13:43.880 you know, share kind of like the process and a 0:13:43.960 --> 0:13:46.680 tool something I created for myself that made the process 0:13:46.760 --> 0:13:48.760 ten times easier, and I'll share it with you guys. 0:13:48.840 --> 0:13:51.079 So just putting it, putting that out there before a 0:13:51.160 --> 0:13:52.000 niche comes on. 0:13:52.720 --> 0:13:56.360 All right, very excited to hear who you pick. So 0:13:56.840 --> 0:13:58.480 all right, well, let's take a quick break and we'll 0:13:58.520 --> 0:14:03.240 be right back with personal finance Guru, podcaster, entrepreneur, business owner, 0:14:03.360 --> 0:14:07.880 mom preneur, just all. Whatever the accolades are, she's got them. 0:14:08.080 --> 0:14:28.240 For a new to Rabbi, come back and join us. Okay, guys, 0:14:28.240 --> 0:14:31.280 we are back as promised with for News to Rabbi, 0:14:31.400 --> 0:14:35.320 personal finance guru and recently co founder of stax House. 0:14:35.360 --> 0:14:37.480 We're calling it a pop up with a purpose, so, 0:14:37.880 --> 0:14:41.640 you know, taking a page out of the success of 0:14:41.680 --> 0:14:43.960 all these other pop ups like Museum of ice Cream, 0:14:44.040 --> 0:14:47.280 Museum of Pizza, Color Factory, twenty nine rooms, we want 0:14:47.320 --> 0:14:49.640 to be as successful as them. There's a cultural relevance 0:14:49.680 --> 0:14:52.120 and a cultural excitement around pop ups, but we wanted 0:14:52.120 --> 0:14:54.920 to bring forth also a bit of purpose, and that 0:14:54.960 --> 0:14:57.760 purpose is to empower women as they go through the experience, 0:14:57.840 --> 0:15:01.240 to open about their money, to feel like it's not 0:15:01.360 --> 0:15:04.080 taboo that they can actually you know, take control of 0:15:04.080 --> 0:15:06.800 their financial lives. And we know that there are many 0:15:07.120 --> 0:15:10.120 solutions to this problem. We don't claim to be you know, 0:15:10.120 --> 0:15:11.760 the pop up's not going to solve all the world's 0:15:11.760 --> 0:15:14.840 financial problems, but we thought that, you know, with all 0:15:14.960 --> 0:15:17.680 the content that already exists in the world, of personal finance, 0:15:17.920 --> 0:15:22.160 your great podcast books, you know courses that what was 0:15:22.440 --> 0:15:24.760 kind of missing was this essential experience. 0:15:24.920 --> 0:15:28.720 Yeah, you guys should check out www dot Stexhouse dot 0:15:28.760 --> 0:15:32.120 com to buy tickets for sex House. Now let's talk 0:15:32.120 --> 0:15:35.160 about the social media moments, because this is all about 0:15:35.160 --> 0:15:38.120 financial empowerment. But we all love a good Instagram moment. 0:15:38.480 --> 0:15:42.480 And all I'm seeing is the mechanical piggybank. Yeah, and 0:15:42.520 --> 0:15:44.440 I need to know more. Does it travel? Will it 0:15:44.480 --> 0:15:45.800 be traveling to future? 0:15:45.800 --> 0:15:50.160 Toward panical baby? And the piggy bank really is meant 0:15:50.240 --> 0:15:53.800 to and the ride is meant to illustrate bring to 0:15:53.880 --> 0:15:55.880 life the movements of the market, the fact that the 0:15:55.880 --> 0:15:58.920 market can be unpredictable, up down, sideways, round and round. 0:15:59.240 --> 0:16:02.440 We found that something like eighty six percent of women 0:16:03.000 --> 0:16:05.560 have said that they have yet to get paid back 0:16:05.680 --> 0:16:08.600 for a small purchase amongst friends. Whether that's like I 0:16:08.640 --> 0:16:11.000 got you, I shared in Uber with you last night 0:16:11.040 --> 0:16:13.360 and I paid for it, or I got dinner last night, 0:16:13.800 --> 0:16:18.360 they're still waiting for that payment. Yeah. So we were like, 0:16:18.440 --> 0:16:20.200 as something as small as that to as we know, 0:16:20.320 --> 0:16:22.840 like asking for a raise, we have this real trepidation 0:16:22.920 --> 0:16:25.240 around talking about money and asking for what we want. 0:16:25.360 --> 0:16:29.840 So that room has these beautiful illuminated installations ons, this 0:16:30.000 --> 0:16:33.880 massive cake that represents a celebratory occasion in your life. 0:16:33.920 --> 0:16:36.000 Another is an actual house that you can walk in, 0:16:36.040 --> 0:16:39.640 which represents like you know, living in a home that 0:16:40.080 --> 0:16:44.479 a shaving that milestone. And in all of these experiences 0:16:44.600 --> 0:16:47.800 or life moments, how to speak up and ask for 0:16:47.880 --> 0:16:50.560 money because like with birthdays and stuff, we get a 0:16:50.560 --> 0:16:52.560 ton of gifts that we never use, So why don't 0:16:52.600 --> 0:16:54.880 you ask for money instead, or you know, when you 0:16:55.240 --> 0:16:58.600 have a roommate and you're living with your roommate, making 0:16:58.600 --> 0:17:01.200 sure that you're talking about splitting the bills and having 0:17:01.280 --> 0:17:06.080 that important conversation. So that room is you'll see that 0:17:06.080 --> 0:17:08.919 all over Instagram, this giant cake or the home that 0:17:08.960 --> 0:17:11.080 we have in this huge like also this one room 0:17:11.080 --> 0:17:12.760 that this one part of the room that is this 0:17:12.920 --> 0:17:16.880 floral like decor that looks like a travel destination. That's 0:17:16.920 --> 0:17:19.240 also a life moment. We want to encourage women to 0:17:20.000 --> 0:17:23.200 travel and experience travel, but to do it responsibly, splitting 0:17:23.200 --> 0:17:25.960 the bill with friends and how to have those conversations. 0:17:27.359 --> 0:17:29.920 We also have a stack salon, which is a retrofitted 0:17:30.800 --> 0:17:33.679 salon that looks like kind of like out of you know, 0:17:33.760 --> 0:17:37.160 still Magnolia's or something, And in that room, it's really 0:17:37.160 --> 0:17:42.080 about creating this relaxing backdrop to then talk about negotiating 0:17:42.160 --> 0:17:44.560 and asking for your worth. So we've got excerpts from 0:17:44.560 --> 0:17:47.640 my podcast playing with people from like Susie Orman and 0:17:47.800 --> 0:17:51.520 Ariana Huffington talking about how to earn your worth. We 0:17:51.600 --> 0:17:54.680 have a Stax she Stacks magazine. She Sacks as our 0:17:54.680 --> 0:17:56.800 parent company, so we have a whole magazine in there 0:17:56.880 --> 0:18:00.479 that has articles around how to negotiate and you know, 0:18:00.560 --> 0:18:04.800 how to turn your side hustle into a full time gig. 0:18:04.840 --> 0:18:07.080 And then we have in every room. I forgot to 0:18:07.119 --> 0:18:09.840 mention this. In every room, we have these electronic beacons 0:18:10.320 --> 0:18:12.920 that we call them beacons. There are these tall vertical 0:18:12.960 --> 0:18:16.800 stations that are driven by iPads that are a lot 0:18:16.800 --> 0:18:19.800 of them are pop quizzes or they're asking you for 0:18:19.880 --> 0:18:22.080 more information about yourself so that we can give you 0:18:22.119 --> 0:18:25.200 more catered advice. So that's where we're trying to sprinkle 0:18:25.200 --> 0:18:28.920 in the literacy throughout the experience. It was a balance, right, 0:18:29.040 --> 0:18:33.520 so it's not this heavy handed, you know, textbook financial experience. 0:18:33.800 --> 0:18:36.720 I thought that would be a little weird frankly, but 0:18:36.800 --> 0:18:39.080 to the extent that we thought it was you know, 0:18:39.200 --> 0:18:43.480 fun and appropriate and well tied into the room. We 0:18:43.600 --> 0:18:46.119 have these moments where you can learn about money, but 0:18:46.160 --> 0:18:48.400 we also hope to have like money schools, really good 0:18:48.440 --> 0:18:55.080 conversations around closing the wealth gap, you know how the 0:18:55.119 --> 0:18:57.720 different sort of unique financial circumstances that affect people that 0:18:57.760 --> 0:19:00.480 are like women of color or modualized groups. Groups Like 0:19:00.800 --> 0:19:05.119 how we can you know, create better advice or tools 0:19:05.240 --> 0:19:07.880 or what are the systemic issues that we can address, 0:19:08.359 --> 0:19:11.320 because you know, again, sax House in and of itself 0:19:11.440 --> 0:19:13.480 is a great experience, but we really want to take 0:19:13.520 --> 0:19:16.359 it to the next level through conversation and we have 0:19:16.440 --> 0:19:19.720 a dedicated space in sax House for those things. So 0:19:19.720 --> 0:19:21.520 if you two want to come and ho do a 0:19:21.520 --> 0:19:24.160 live podcast from sax House, we would totally invite you 0:19:24.440 --> 0:19:28.600 to come. I think that would be fun and yeah, 0:19:28.680 --> 0:19:31.000 so if maybe that's how I get you guys to 0:19:31.040 --> 0:19:33.480 come come take your show on the road, I'll. 0:19:33.359 --> 0:19:33.720 Take it. 0:19:35.720 --> 0:19:35.880 Well. 0:19:35.880 --> 0:19:38.399 Our other motivation for having you on Farniche was just 0:19:38.440 --> 0:19:40.879 to talk to you because you wrote this amazing article 0:19:40.880 --> 0:19:43.159 in Refinary twenty nine about what it's like to be 0:19:43.240 --> 0:19:47.000 a successful mom and an entrepreneur. So let's let's jump 0:19:47.000 --> 0:19:49.800 into that. I mean, Tiffany, I know you have questions here. 0:19:49.920 --> 0:19:51.840 Yes, and so I just wanted to ask, like, you know, 0:19:52.280 --> 0:19:53.679