WEBVTT - BA Live Special: Survival Tips For A Recession. 0:00:06.160 --> 0:00:08.879 Hey, hey, hey, ba fan, we just had our first 0:00:08.920 --> 0:00:12.200 YouTube lib and it was amazing. If I do say 0:00:12.200 --> 0:00:17.040 so myself, and I do say so myself, listen, learn, 0:00:17.200 --> 0:00:19.439 take notes to your mama cousins. And then because we 0:00:19.520 --> 0:00:22.400 had a time, honey, we had a time last night, 0:00:24.440 --> 0:00:26.760 we are I'm. 0:00:28.080 --> 0:00:33.320 Welcome to right. This is our first BRUNNABISI live. Right 0:00:33.520 --> 0:00:33.920 it is. 0:00:34.200 --> 0:00:37.600 I feel very like it's a party, but also it's 0:00:37.640 --> 0:00:38.920 like a bad party. 0:00:39.400 --> 0:00:41.400 It's like wait, yeah, wait, okay. 0:00:41.440 --> 0:00:44.800 So this is the session day, July twenty eighth, twenty 0:00:44.840 --> 0:00:49.440 twenty welcome you, hey, hey, hey, ba fama. This yesterday 0:00:49.720 --> 0:00:53.240 our very first Brunnabashan live YouTube event. So it's time 0:00:53.280 --> 0:00:56.880 for some real talk all things sess you on. It 0:00:57.040 --> 0:00:58.840 is July twenty eighth, And if you've been listening to 0:00:58.840 --> 0:01:01.840 the podcast, you know what it really means that after 0:01:01.960 --> 0:01:04.960 weeks of hype, we finally have our first clues on 0:01:05.000 --> 0:01:07.800 whether or not we are really truly in a recession 0:01:08.200 --> 0:01:11.200 and the answer might surprise you. And we're gonna talk 0:01:11.200 --> 0:01:12.959 about how it's going to impact you, and we're gonna 0:01:13.000 --> 0:01:16.440 also talk about, you know, what you can do to 0:01:16.560 --> 0:01:20.280 not only survive but thrive through whatever it is economics 0:01:20.400 --> 0:01:25.120 or economics or economics economists are saying, right, So just 0:01:25.120 --> 0:01:28.440 so you know, typically folks say like a because I 0:01:28.440 --> 0:01:30.319 don't want to say economists again and say, oh, I 0:01:30.400 --> 0:01:34.080 got it. Okay, you got it. The econdomis called a session. 0:01:34.360 --> 0:01:36.800 It's called of a session. When the GDP, which is 0:01:36.800 --> 0:01:43.039 the gross oh my gosh, gross semestic domestic product, I'm. 0:01:42.920 --> 0:01:44.520 Like, we don't know. I'm gonna google real quick. 0:01:45.319 --> 0:01:48.880 We got the sline for two consecutive quarters. That means 0:01:48.920 --> 0:01:51.280 six months in a row. So the GDP really is 0:01:51.360 --> 0:01:55.400 like goods and services, right, and so for a country. 0:01:55.720 --> 0:01:58.920 And so we just found out that, yes, that has happened, 0:02:00.200 --> 0:02:02.600 and we just completed the second quarter of the year 0:02:02.640 --> 0:02:03.320 as of today. 0:02:03.400 --> 0:02:04.080 So right on Q. 0:02:04.520 --> 0:02:08.520 The US Bureau of Economic Analysis at leased their Advanced 0:02:08.680 --> 0:02:11.840 Estimate of economic growth this morning, and many's going to 0:02:11.840 --> 0:02:14.120 tell you what's the deal? What do they say? So 0:02:14.200 --> 0:02:16.919 we can gorgeer loins? Ok? 0:02:17.000 --> 0:02:23.160 Yeah, I never understood why it was pronounced gourd anyway. Yeah, 0:02:23.200 --> 0:02:26.320 So here's what's happening, y'all. A second straight corner. The 0:02:26.440 --> 0:02:30.160 US economy did shrink again zero point nine percent. That's 0:02:30.200 --> 0:02:32.760 never a great thing. It's less than the first court 0:02:32.840 --> 0:02:35.440 the last quarters you know declined, but still it's a 0:02:35.440 --> 0:02:38.760 second quarter of straight decline. So it's bad news bears 0:02:38.800 --> 0:02:42.040 for the US economy. A big part of that, of course, 0:02:42.080 --> 0:02:44.800 has been the fact that consumer spending has been slowing down, 0:02:45.720 --> 0:02:48.359 investments in business and the investments that businesses are making 0:02:48.400 --> 0:02:52.240 have been slowing down. It's not all bad news, though, 0:02:52.280 --> 0:02:54.200 And like this picture of what's going on in the 0:02:54.200 --> 0:02:57.760 economy is super complex, and the way that it's affecting 0:02:57.800 --> 0:03:00.680 you guys at home and even us, you know, in 0:03:00.760 --> 0:03:03.320 my basement and Tiffany, you know, in her beautiful office, 0:03:03.480 --> 0:03:05.959 it's all affecting us a little bit different. So I 0:03:06.400 --> 0:03:08.640 think we should have like an open conversation. I welcome 0:03:08.680 --> 0:03:11.240 you guys to ask your questions about, you know, what 0:03:11.360 --> 0:03:15.360 is concerning you, whether it's like financially or professionally, about 0:03:15.360 --> 0:03:17.320 the recession that we're in. And while you guys are 0:03:17.320 --> 0:03:20.520 submitting some questions, please do live chat and for those 0:03:20.560 --> 0:03:22.520 of you who are catching the replay, feel free to 0:03:22.600 --> 0:03:25.640 slide into our DMS. We're at Brand Ambition Podcast on 0:03:25.840 --> 0:03:28.839 ig with any questions that you guys have, or any 0:03:28.880 --> 0:03:32.160 thoughts or concerns but let's talk about some of the 0:03:32.400 --> 0:03:35.920 like what's really happening holistically, Tiff, Like, you know, yes, 0:03:36.000 --> 0:03:38.520 the GDP is down, Yes, inflation is. 0:03:38.840 --> 0:03:41.200 Hea Hi yes, hello, hello Hi. 0:03:41.640 --> 0:03:43.840 That's a huge contributing factor, even more so in this 0:03:43.960 --> 0:03:48.680 quarter to the slowdown in the GDP. Consumer spending, Like 0:03:48.840 --> 0:03:51.920 I don't blame people for spending less, yes, you know, 0:03:52.680 --> 0:03:55.760 I think like even personally, I'm doing things like I 0:03:55.800 --> 0:03:58.720 wasn't doing before, Like instead of ordering my groceries like 0:03:58.800 --> 0:04:01.240 I used to do that willy nilly, especially during the pandemic, 0:04:02.040 --> 0:04:04.560 order the groceries so I could pick them up and 0:04:04.720 --> 0:04:07.000 just you know, pop the trunk and they would deliver them. 0:04:07.160 --> 0:04:09.760 But I realized I'm spending more money doing that because 0:04:09.800 --> 0:04:12.880 of fees, and so I've actually like gone back to 0:04:13.000 --> 0:04:15.720 just shopping in person and like planning my little grocery trip. 0:04:16.160 --> 0:04:18.920 And I am like my husband and I it's really 0:04:18.960 --> 0:04:22.080 hard to not spend seventy five frickin dollars when we 0:04:22.200 --> 0:04:25.920 order out on the weekends and during the week So 0:04:26.160 --> 0:04:28.720 we've slowed down, you know, the restaurant eating. 0:04:28.720 --> 0:04:30.280 I'm trying to cook at home more. 0:04:30.320 --> 0:04:34.119 Because our grocery bill is crazy, like two three hundred 0:04:34.120 --> 0:04:36.760 dollars a week just buying regular stuff. And I feel 0:04:36.760 --> 0:04:39.679 like that's what a lot of people are feeling, right. 0:04:39.880 --> 0:04:43.080 No, absolutely, And something that I just want to preface 0:04:43.120 --> 0:04:45.720 this with is that I know, sometimes with sessions seem like, 0:04:45.720 --> 0:04:49.000 oh my gosh, what's going on? They are a natural 0:04:49.080 --> 0:04:52.080 part of the economic cycle. The sessions usually happen every 0:04:52.680 --> 0:04:56.000 ten to fifteen years or so. And truth be told, 0:04:56.640 --> 0:04:59.279 we have like that we went through our longest stretch 0:04:59.320 --> 0:05:03.159 of not having and we broke that stride in twenty 0:05:03.200 --> 0:05:04.800 twenty because you know, we had that mini recession in 0:05:04.839 --> 0:05:08.159 twenty twenty during that panorama, right, but that was the 0:05:08.279 --> 0:05:10.040 longest the US had ever gone in. 0:05:10.000 --> 0:05:11.360 Its history without a recession. 0:05:11.440 --> 0:05:14.440 So you know, we're kind of overdue because even though 0:05:14.480 --> 0:05:16.800 we had that panorama, we had that mini recession in 0:05:16.800 --> 0:05:19.720 twenty twenty. I didn't really feel it, y'all didn't really 0:05:19.760 --> 0:05:23.320 feel it. Why, because we were stimuli to death, right, 0:05:23.400 --> 0:05:25.560 We got all that mulus money. You ain't had to 0:05:25.600 --> 0:05:27.279 pay that mortgage, you had to pay that ring you 0:05:27.279 --> 0:05:30.440 had it been it'st alone. So as a result, you know, 0:05:31.600 --> 0:05:33.960 we're kind of like overdue for recession. Think of a 0:05:34.000 --> 0:05:36.920 recession as a refresh. Mandra and I were talking offline, 0:05:36.920 --> 0:05:39.200 and a recession is kind of like a like a 0:05:39.240 --> 0:05:44.240 forest fire, right, So forest fires are definitely devastating, but 0:05:44.400 --> 0:05:47.400 it is a way for mother and nature to reset. 0:05:47.680 --> 0:05:50.360 So typically a forest has reached capacity, it can no 0:05:50.400 --> 0:05:54.000 longer support itself. And so not the forest fires that 0:05:54.040 --> 0:05:57.240 I started by those folks who do like the pregnancy 0:05:57.320 --> 0:05:59.800 gender reveal and you know, pop off fireworks and burn 0:05:59.839 --> 0:06:01.960 down you know, a neighborhood. No, no, no, we're talking 0:06:01.960 --> 0:06:04.240 about natural forest fires that typically happen because there's a 0:06:04.320 --> 0:06:06.279 lightning storm, the lightning hits a tree, the tree lights 0:06:06.279 --> 0:06:09.200 everything on fire. It's because it is time for the 0:06:09.200 --> 0:06:12.400 force to reset, and recessions are a refresh. 0:06:12.839 --> 0:06:15.480 They helped to weed out to toxic assets. 0:06:15.720 --> 0:06:18.760 They helped to weed out bad investments, bad companies that 0:06:18.839 --> 0:06:21.400 are really not doing you know well and are actually 0:06:21.400 --> 0:06:22.480 bringing down the economy. 0:06:22.600 --> 0:06:25.520 So just I just wanted to for you to keep 0:06:25.520 --> 0:06:26.320 that in mind. 0:06:27.160 --> 0:06:31.640 But this was this recession non recession because the federal 0:06:31.640 --> 0:06:33.560 government is not claiming it, you know, you know how 0:06:33.600 --> 0:06:35.600 like your ex boyfriend wasn't trying to claim you. You know, 0:06:35.720 --> 0:06:37.480 they're not trying to claim it. Although you're like, but 0:06:37.600 --> 0:06:39.640 we live together. How you're not claiming me. That's how 0:06:39.680 --> 0:06:44.520 the recess is giving that like, so two consecutive quarters 0:06:44.520 --> 0:06:45.080 of down. 0:06:44.960 --> 0:06:46.640 Of downturn, but you're not claiming me. 0:06:46.720 --> 0:06:49.760 But the reason is because also I see someone asks 0:06:49.800 --> 0:06:53.320 a question about the job market, it's because unemployment is 0:06:53.320 --> 0:06:57.200 that a historic cloths literally generational lows. So typically during 0:06:57.240 --> 0:07:01.200 recession that's not so. But also inflation is at historic highs. 0:07:01.520 --> 0:07:03.560 People are not spending as much. They were support that 0:07:03.640 --> 0:07:06.159 came out with Walmart and Target. They were both saying 0:07:06.160 --> 0:07:10.040 how they're basically doing fire sales and selling off so 0:07:10.200 --> 0:07:14.560 much of their inventory at a loss because they experience 0:07:14.640 --> 0:07:17.800 inflation as well. So like companies have to pay more 0:07:17.840 --> 0:07:21.600 for goods and services, and then we also experience inflation 0:07:21.680 --> 0:07:25.960 as consumers, and they are cutting costs even though they've 0:07:26.000 --> 0:07:28.800 had to pay more for the product or service in 0:07:28.920 --> 0:07:31.920 order to present it to you. So you know, we're 0:07:31.920 --> 0:07:34.800 on this weird yoyo of like, but there's plenty of jobs, 0:07:34.920 --> 0:07:38.120 but people don't have, you know, the money to spend 0:07:38.280 --> 0:07:41.760 on things that Target and Walmart unless it's necessities. So 0:07:42.520 --> 0:07:44.320 I just wanted to give you like a broader perspective 0:07:44.360 --> 0:07:45.880 of like, what does that kind of look like? 0:07:45.960 --> 0:07:47.360 That's why I got a really good deal in an 0:07:47.400 --> 0:07:50.880 at Airondack chairs. Yes, well, should we go to the 0:07:51.040 --> 0:07:53.800 questions real quick? Hey, everybody, I see the comments. This 0:07:53.880 --> 0:07:55.680 is my first time on YouTube live, so I'm excited. 0:07:55.640 --> 0:07:58.360 And Tip does this like in her sleep, but I'm excited. 0:07:58.400 --> 0:08:01.000 So we see oh heyba and the chat. Okay, we 0:08:01.040 --> 0:08:05.480 got a question from let's say Carla. Carla asks what 0:08:05.720 --> 0:08:08.080 does this mean for job security? Do you think there 0:08:08.120 --> 0:08:08.920 will be layoffs? 0:08:09.520 --> 0:08:10.080 Yeah? 0:08:10.560 --> 0:08:14.400 Yeah, there already have been, you know, big companies. They're 0:08:14.400 --> 0:08:17.120 smaller companies that are that are making layoffs too. I 0:08:17.120 --> 0:08:20.560 mean we've seen companies like Twitter, Redfin, which is a 0:08:20.560 --> 0:08:26.800 big realtor like home buying you know company Shopify. Just 0:08:26.840 --> 0:08:28.800 this week, I have a friend out Shopify and he 0:08:28.800 --> 0:08:31.680 he said that there was ten percent cuts at Shopify, 0:08:32.320 --> 0:08:35.160 you know. So, yes, layoffs are happening. I think this 0:08:35.360 --> 0:08:38.240 is to be expected. One of the key indicators for 0:08:38.760 --> 0:08:41.800 you know GDP, which we're seeing declining, is the investments 0:08:41.800 --> 0:08:43.599 that businesses are making. And I think the one of 0:08:43.640 --> 0:08:47.600 the biggest investments businesses do make is people, so labor 0:08:48.400 --> 0:08:51.840 and it's often like we're expensive. Salaries are expensive, so 0:08:51.960 --> 0:08:55.040 you do see companies when they're trying to save, you know, 0:08:55.200 --> 0:08:58.559 potentially have layoffs. What I'm hearing, you know, as I'm 0:08:58.600 --> 0:09:01.079 a I do career code, and what I'm hearing from 0:09:01.120 --> 0:09:05.160 clients is I was in the interview process for such 0:09:05.160 --> 0:09:06.839 and such and I've been told that it's on pause 0:09:06.880 --> 0:09:09.640 for a while, you know. And I think maybe instead 0:09:09.679 --> 0:09:12.080 of like layoffs, which you may be encountering, is like 0:09:12.480 --> 0:09:16.440 those hiring freezes or hiring pauses where companies are just like, 0:09:16.600 --> 0:09:20.520 let's just chill, you know, let's just not say yes 0:09:20.600 --> 0:09:24.440 to new headcount or you know, new hires until we 0:09:24.480 --> 0:09:27.480 see how things shake out. But I think if you're 0:09:27.520 --> 0:09:30.240 someone who you're working now and you're concerned, you know, 0:09:30.320 --> 0:09:32.880 I think it's really industry specific. Have you noticed t 0:09:32.880 --> 0:09:35.040 if like a lot of recruiters have been getting laid 0:09:35.040 --> 0:09:39.439 off and it makes sense, yeah, you know, there's some. 0:09:39.520 --> 0:09:41.720 I think at Twitter, for example, it was only the 0:09:41.720 --> 0:09:44.440 first wave of layoffs were recruiters were like from the 0:09:44.559 --> 0:09:47.640 talent acquisition part, which like makes sense when you think 0:09:47.640 --> 0:09:50.480 about it, right, because I mean, if they're slowing down hiring, 0:09:50.920 --> 0:09:54.360 you need as many recruiters, and I think if you're 0:09:54.520 --> 0:09:57.040 you know, and and other jobs. By the way, you know, 0:09:57.240 --> 0:09:59.200 I still have clients for getting jobs at places like 0:09:59.240 --> 0:10:02.400 Google that's on job offers this week, so there's still 0:10:02.440 --> 0:10:04.320 lots of jobs to be had. But I think it's 0:10:04.320 --> 0:10:07.800 really like what is the skill set? Yeah, the type, 0:10:08.240 --> 0:10:11.520 And I think it's it's a good reminder of the 0:10:11.559 --> 0:10:16.120 importance of always investing in your skills and what and 0:10:16.160 --> 0:10:19.360 how you can develop yourself so that you are one 0:10:19.360 --> 0:10:21.520 of those people that it's harder for companies to lose, 0:10:22.320 --> 0:10:26.120 you know, in that opera, illustrate your Oprah for sure, 0:10:26.840 --> 0:10:30.680 and even thinking like okay, maybe instead of like sometimes 0:10:30.679 --> 0:10:33.280 at companies they may try to reassign you to another team. 0:10:33.400 --> 0:10:34.840 So what other skills do you have? What o their 0:10:34.880 --> 0:10:37.960 team could you see yourself fitting into? But yeah, I 0:10:38.000 --> 0:10:41.240 can understand why folks are a little concerned because layoffs 0:10:41.440 --> 0:10:45.640 they're not like at crazy crazy highs, but you know 0:10:46.240 --> 0:10:47.960 there are it is happening out there. 0:10:48.440 --> 0:10:53.440 Yes, So next question we're gonna go with Jessica. Jessica 0:10:53.520 --> 0:10:56.280 ask when do we start to see the impact later 0:10:56.360 --> 0:11:00.560 this year or mostly next year. Good question, Jessica. So 0:11:00.600 --> 0:11:02.800 we're already seeing the impact now. So I did see 0:11:02.800 --> 0:11:04.960 a quick question about are we in a recession? The 0:11:05.040 --> 0:11:10.160 answer is you're no, say meaning I don't know, right, 0:11:10.240 --> 0:11:13.200 so we let's we are in a recession ish So 0:11:13.320 --> 0:11:18.880 by technical definition of two consecutive quarters of economic downturn 0:11:18.960 --> 0:11:21.920 GDP going down, down, down, Yes. 0:11:21.760 --> 0:11:22.440 We have hit that. 0:11:22.480 --> 0:11:25.360 So the GDP they're officially announced, it's six months straight 0:11:26.040 --> 0:11:29.280 we've had of economic downturn. Okay, like a contraction in 0:11:29.320 --> 0:11:33.160 the economy, so less versus more. But we also have 0:11:33.320 --> 0:11:36.720 growth in other areas that typically would also indicate a recession. 0:11:36.960 --> 0:11:40.280 So it's like we down bad here, we upcute here. 0:11:40.600 --> 0:11:45.240 So they're like, eh, you know. So to answer your question, Jessica, 0:11:45.400 --> 0:11:47.240 like when we start to see the impact, you're seeing 0:11:47.280 --> 0:11:52.600 it now right, like one, because high inflation rates are 0:11:53.000 --> 0:11:57.440 are one of the recession indicators, and we're seeing that 0:11:57.480 --> 0:11:58.199 things costs more. 0:11:58.240 --> 0:11:59.160 I know, the last time you went. 0:11:59.040 --> 0:12:02.280 To the grocery store, you were like, oh, hell now right, 0:12:02.840 --> 0:12:04.760 the market is all over the place. 0:12:05.040 --> 0:12:07.760 You know, Well, she's down, down, down. I mean like 0:12:07.840 --> 0:12:08.440 it's like. 0:12:08.520 --> 0:12:10.600 People, I tell people, don't look at you, you don't 0:12:10.600 --> 0:12:13.720 look at your home. K leave that thing alone. Because 0:12:13.720 --> 0:12:15.680 that thing is haanging right now, so you're seeing that 0:12:15.760 --> 0:12:17.000 there as well. 0:12:17.920 --> 0:12:18.960 You might be seeing it. 0:12:19.040 --> 0:12:22.400 Like I mentioned earlier, some retailers are slashing prices because 0:12:22.400 --> 0:12:24.199 they have to get rid of inventory and get an 0:12:24.200 --> 0:12:28.599 inflection of cash because people are not buying past the necessities, 0:12:28.840 --> 0:12:31.079 so they are buying the TV. 0:12:31.200 --> 0:12:33.480 So people are sticking to groceries as they ought to. 0:12:33.600 --> 0:12:36.079 But groceries also have a low profit margin, meaning that 0:12:36.120 --> 0:12:38.080 they don't make a lot of money off groceries. So 0:12:38.120 --> 0:12:39.760 when you go to Target and you're like, ah, like 0:12:39.840 --> 0:12:42.319 we are all to do and you buy your groceries, 0:12:42.480 --> 0:12:45.920 Target is giving you groceries at like a discount because 0:12:45.960 --> 0:12:48.960 they know you're going mosey on over to other things. 0:12:49.000 --> 0:12:50.560 I have to avoid the home good section. 0:12:50.679 --> 0:12:52.080 Oh yes, I can't. 0:12:51.840 --> 0:12:52.680 Go over there. 0:12:52.679 --> 0:12:57.480 Home goods also like electronics, those are high margin item, 0:12:57.559 --> 0:13:00.760 meaning they can sell them at like at multiple So 0:13:00.800 --> 0:13:02.760 you buy it for a dollar, they you know, they 0:13:02.760 --> 0:13:04.120 buy it for a dollar, they settle to you for 0:13:04.160 --> 0:13:05.280 two and so. 0:13:05.559 --> 0:13:07.680 But people are not doing that. They're stacking just to grocery. 0:13:07.720 --> 0:13:11.520 So that's also an indicator meaning that like you're going 0:13:11.559 --> 0:13:14.280 to see the impact now and you will continue to 0:13:14.280 --> 0:13:17.080 see the impact, and if we enter into a like 0:13:17.280 --> 0:13:20.520 fully recognized a session, you will continue to see the 0:13:20.559 --> 0:13:25.000 impact during the recession and after the recession. And so 0:13:25.000 --> 0:13:26.680 so I hope that answers your question. Yes, so that 0:13:26.720 --> 0:13:29.200 they're like, yes, we're in the impact now, whether they 0:13:29.280 --> 0:13:31.840 call it a recession or not, we're feeling the impact now. 0:13:33.160 --> 0:13:35.560 Absolutely, we feel in it. We had a late comer, 0:13:35.640 --> 0:13:39.040 so she asked, are we in a recession? Yeah, ish, 0:13:39.160 --> 0:13:41.960 we're in the latest data again for those late comers, 0:13:42.000 --> 0:13:44.480 zero point nine percent decline in GDP. This is a 0:13:44.520 --> 0:13:47.680 second quarter of straight decline. So it's not looking great. 0:13:47.760 --> 0:13:49.640 It's not looking great, but we are trying to talk 0:13:49.679 --> 0:13:52.640 about other indicators. And let's take a question. Where did 0:13:52.679 --> 0:13:57.360 I see it, Ashanti? Yes, Ashanti. Ashanti says, I'm currently 0:13:57.520 --> 0:14:00.240 unemployed due to my job ending and I'm looking for 0:14:00.320 --> 0:14:03.800 better opportunities. Would the possibility of a recession affect my 0:14:03.880 --> 0:14:09.480 abilities to negotiate for more money? So here's some good news, Ashanti. Actually, 0:14:09.600 --> 0:14:13.360 wages are still up. So wages have increased somewhere between 0:14:13.400 --> 0:14:16.800 like four and five percent this year, and labor demand 0:14:17.160 --> 0:14:19.720 is really strong. I mean, I love this. I'm gonna 0:14:19.840 --> 0:14:22.000 can I post a link. Anyway, there's a there's something 0:14:22.040 --> 0:14:25.480 called the Hiring Lab and it is a study and 0:14:25.600 --> 0:14:27.640 research set. Indeed, dot Com which is like one of 0:14:27.680 --> 0:14:29.840 the biggest job posting sites, you guys know that. Indeed, 0:14:30.200 --> 0:14:32.840 they have been tracking job opening since the pandemic. Job 0:14:32.920 --> 0:14:36.400 openings are still up over fifty percent compared to the 0:14:36.480 --> 0:14:41.119 beginning of the pandemic, so wages are up, demand for employees, 0:14:41.320 --> 0:14:43.800 demand for labor is still strong. So if you're in 0:14:43.880 --> 0:14:45.920 the job market, it could actually be a great time 0:14:45.960 --> 0:14:47.840 for you to negotiate for more. And I wouldn't want 0:14:47.880 --> 0:14:51.160 anyone to think I should accept less or let me 0:14:51.400 --> 0:14:53.640 like low ball myself because I want to have a 0:14:53.680 --> 0:14:55.960 good chance at getting a job. Try to resist that. 0:14:56.720 --> 0:14:59.240 But that being said, think about the field that you're 0:14:59.320 --> 0:15:03.800 in and is the demand of especially for your skill set. 0:15:04.040 --> 0:15:06.560 Don't know what fel what field you are in particularly, 0:15:06.680 --> 0:15:09.400 but you know you may have a bit of an 0:15:09.520 --> 0:15:12.040 easier time negotiating more pay if you're in like a 0:15:12.120 --> 0:15:16.080 high demand field versus like we were talking about earlier 0:15:16.120 --> 0:15:19.840 about people in recruiting or the talent acquisition field. Maybe 0:15:19.840 --> 0:15:22.880 a little bit trickier, but there's still reasons to be 0:15:22.960 --> 0:15:26.880 optimistic about your job search for sure? Good? 0:15:27.680 --> 0:15:31.880 All right, it looks like Tamika has a question. Tamika, 0:15:32.240 --> 0:15:34.200 will inflation ever go back down? 0:15:34.440 --> 0:15:34.800 Make me? 0:15:35.840 --> 0:15:37.600 Let me get my crystal ball? Hold on where not 0:15:37.680 --> 0:15:39.440 put it? It's around here somewhere. 0:15:39.640 --> 0:15:41.880 Well, here's what I'll say, although we don't have a 0:15:41.920 --> 0:15:42.440 crystal ball. 0:15:42.680 --> 0:15:48.000 Typically, the United States has a stable inflation rate about 0:15:48.080 --> 0:15:50.680 one to three percent, which we have maintained for many, many, 0:15:50.760 --> 0:15:51.240 many years. 0:15:51.640 --> 0:15:54.040 This inflation rate of like what we're over nine percent now? 0:15:54.680 --> 0:15:56.160 Is it's Craig Cray. 0:15:56.520 --> 0:16:00.200 Yes, it's not our typical so of course there's no 0:16:00.240 --> 0:16:02.280 way for us to know. But if we're going to 0:16:02.320 --> 0:16:05.920 look at history that you know, we can we can 0:16:07.480 --> 0:16:12.040 postulate that inflation hopefully will return to a to a 0:16:12.800 --> 0:16:14.800 you know, like our normal inflation a rate of one 0:16:14.840 --> 0:16:16.760 to three percent, I mean, because we cannot continue to 0:16:16.800 --> 0:16:18.520 maintain at this at this inflation rate. 0:16:18.760 --> 0:16:23.320 This is why, honestly why you see the Feds raising rates. 0:16:23.240 --> 0:16:28.440 Because when when things whenever there is an issue with 0:16:28.480 --> 0:16:31.400 the economy, they don't have too many tools to navigate. 0:16:31.440 --> 0:16:34.000 They can give away money, they can offer aid to 0:16:34.040 --> 0:16:35.320 say you don't have to pay for things, but they 0:16:35.400 --> 0:16:38.960 can also like restrict access to credit, and they do 0:16:39.080 --> 0:16:42.400 this by raising rate rates, right, They're like, hey, you 0:16:42.480 --> 0:16:46.800 know the the you know what you're going to pay 0:16:47.000 --> 0:16:48.880 for your interest rate that you're going to pay for 0:16:49.360 --> 0:16:51.960 a house or a car is going to eliminate some 0:16:52.040 --> 0:16:53.720 people from being able to afford our house or car. 0:16:53.960 --> 0:16:55.880 These are the these are the tools that the Feds 0:16:55.920 --> 0:16:58.520 have at there and the federal government has at their disposal. 0:16:58.960 --> 0:17:01.280 So I say all that to that they use these 0:17:01.320 --> 0:17:05.200 tools to hope to stabilize the economy. So I would 0:17:05.200 --> 0:17:07.159 hope that they would bring the inflation rate back then 0:17:07.240 --> 0:17:09.760 or else we're in big trouble. And if we look 0:17:09.760 --> 0:17:12.520 at history, history tells us that, like they should be 0:17:12.600 --> 0:17:13.359 able to do so. 0:17:14.280 --> 0:17:16.080 Well, let's talk about one of the biggest drivers of 0:17:16.119 --> 0:17:18.639 inflation too, which has been the fact that, like there 0:17:18.680 --> 0:17:21.800 has been increased demand for stuff, but because of the pandemic, 0:17:21.960 --> 0:17:25.280 like we're still in this period where companies can't create 0:17:25.359 --> 0:17:27.960 this stuff as fast as they used to or to 0:17:28.080 --> 0:17:31.320 meet that demand. So like it's classic. Even me with 0:17:31.480 --> 0:17:34.360 my B and econ, I can tell you that when 0:17:34.600 --> 0:17:37.920 supply decreases and you got more people wanting stuff, then 0:17:38.040 --> 0:17:40.280 you know that can lead to some inflation. So hopefully, 0:17:40.520 --> 0:17:43.600 once you know, companies get a handle on their supply 0:17:43.760 --> 0:17:46.560 chains and we're able to like level things out, we 0:17:46.680 --> 0:17:49.880 may see that come back to a little bit of normalcy. 0:17:50.480 --> 0:17:52.080 But I feel like one of the biggest things you 0:17:52.160 --> 0:17:53.840 mentioned the FED rate hike, and I want to go 0:17:53.880 --> 0:17:55.200 to Jessica Rogers' question. 0:17:55.440 --> 0:17:56.439 She asks, what. 0:17:56.560 --> 0:18:00.720 Could this mean for home buying? And this increase in 0:18:00.800 --> 0:18:04.040 FED rates directly, it doesn't. Actually it's like a myth 0:18:04.160 --> 0:18:07.080 that when the FED increases rates that mortgage rates fall 0:18:07.119 --> 0:18:10.800 and stuff with that. But because because the FED rate 0:18:11.000 --> 0:18:15.000 impacts other parts of the system, it typically like indirectly 0:18:15.160 --> 0:18:18.480 impacts mortgage rates. So rates are getting more expensive, and 0:18:18.680 --> 0:18:21.720 we have seen, like I was just reading this article 0:18:21.840 --> 0:18:25.840 that said that, you know, because people are facing higher 0:18:25.920 --> 0:18:28.480 mortgage costs, like the fact that you could get like 0:18:28.560 --> 0:18:31.680 a two percent interest rate during the pandemic and now 0:18:31.760 --> 0:18:34.200 it's like what four or five percent. It's it's getting 0:18:34.280 --> 0:18:37.280 really expensive. Plus there's just not a lot of homes 0:18:37.320 --> 0:18:40.200 out there. Yeah, we're already like Craig Cray high, So 0:18:40.760 --> 0:18:44.520 it's actually Americans are canceling their deals to purchase homes 0:18:44.560 --> 0:18:47.000 at the highest rate since the start of the pandemic, 0:18:47.560 --> 0:18:50.359 And I think that must be because they're like sticker 0:18:50.400 --> 0:18:54.000 shock one thing, and then it's like maybe weight for 0:18:54.119 --> 0:18:56.479 rates to come back down, because obviously mortgage rates can 0:18:56.560 --> 0:19:00.320 go up and down. So like, if you're not rest 0:19:00.760 --> 0:19:03.000 right now to buy a home, you may want to wait. 0:19:03.480 --> 0:19:04.920 You know, it may be the best thing for you 0:19:05.040 --> 0:19:08.760 financially to just like let things simmer down. But yeah, 0:19:08.800 --> 0:19:10.520 I mean, tipt didn't you tell a story about someone 0:19:10.560 --> 0:19:14.000 who like missed out or couldn't buy afford a house. 0:19:14.240 --> 0:19:16.240 Well, it was around the corner from where I lived. 0:19:16.400 --> 0:19:18.920 There was a woman who she had locked in a 0:19:19.040 --> 0:19:20.840 rate at like three point whatever percent. 0:19:21.359 --> 0:19:22.359 You know, she was great. 0:19:22.680 --> 0:19:26.800 Her real estate agent dropped the ball and you know, 0:19:26.880 --> 0:19:28.720 you can only hold a rate typically for like thirty 0:19:28.800 --> 0:19:31.919 days and you can get an extension, and so they 0:19:32.320 --> 0:19:34.520 failed to file or whatever, do whatever so she can 0:19:34.560 --> 0:19:35.280 get her extension. 0:19:35.560 --> 0:19:37.719 So the house that she wanted to get, she couldn't 0:19:37.720 --> 0:19:40.440 afford it with the new interest rate. So it's not 0:19:40.760 --> 0:19:41.120 a house. 0:19:41.200 --> 0:19:43.400 And cost what you're gonna pay monthly on the house 0:19:43.480 --> 0:19:45.760 is the cost of the house, but also the cost 0:19:45.800 --> 0:19:48.359 to borrow money to purchase at house. So if you're 0:19:48.400 --> 0:19:50.000 buying a house cash woo woo, you don't got to 0:19:50.040 --> 0:19:53.240 worry about interest rates. But if you are financing, it's 0:19:53.280 --> 0:19:55.280 going to factor into what your monthly amount is. Actually 0:19:55.320 --> 0:19:57.000 had to have a come to Jesus talk with my 0:19:57.600 --> 0:19:59.399 brother in law this morning because you know, he's buying 0:20:01.280 --> 0:20:04.879 my late husband, Darrell, our second property. He's purchasing it, 0:20:04.960 --> 0:20:06.360 and then I'm going to take that money and set 0:20:06.400 --> 0:20:09.399 it aside for my bonus daughter, Alyssa, to add to 0:20:10.160 --> 0:20:12.560 her you know, her legacy or the legacy her father 0:20:12.680 --> 0:20:15.760 left her. But I told him, I'm like, bruh, don't 0:20:15.880 --> 0:20:18.680 drag yourfe eat, I said, because you might price yourself 0:20:18.720 --> 0:20:21.720 out from that house. Thankfully, he's going through a program 0:20:21.800 --> 0:20:24.399 called NAKA which helps to I think the interest rate 0:20:24.440 --> 0:20:26.400 that they're offering him a three point five percent, which 0:20:26.480 --> 0:20:29.200 is great, so they're locking that in for him. But 0:20:29.280 --> 0:20:32.800 I'm like, make sure that you are doing everything they 0:20:32.880 --> 0:20:36.840 ask because you know, I'm in Jersey, so housing prices 0:20:36.960 --> 0:20:40.040 are still increasing that as dramatically as before, but with 0:20:40.240 --> 0:20:42.080 interest rates increasing, I don't know what NACA is going 0:20:42.119 --> 0:20:43.920 to do. You know, they have their own program about 0:20:44.000 --> 0:20:45.960 keeping interest rates low. But I said, if these things 0:20:46.040 --> 0:20:48.040 creep up, you might not be able to afford the 0:20:48.160 --> 0:20:50.720 very same house you could afford six months ago. So 0:20:50.800 --> 0:20:52.840 I put a little fear good in him. But hopefully 0:20:52.880 --> 0:20:55.399 that puts a little fear of God in you too. 0:20:56.520 --> 0:20:59.640 So yeah, So with housing, I mean there's no way. 0:20:59.640 --> 0:21:01.719 I mean everyone's claiming like it's not gonna be as 0:21:01.760 --> 0:21:03.679 bad as the two thousand and eight crash, or there 0:21:03.720 --> 0:21:05.159 might be not a crash at all. 0:21:06.359 --> 0:21:07.880 I don't know that you should be holding your breath 0:21:07.920 --> 0:21:09.359 for crash or not crash. 0:21:09.440 --> 0:21:11.399 It's if you want to purchase a house, you know, 0:21:11.840 --> 0:21:15.439 take your time to do so smart and keep your 0:21:15.480 --> 0:21:18.760 debt to income ratio low with lower lower debt payments 0:21:18.800 --> 0:21:21.280 by paying off your debt, keep your credit score decent, 0:21:21.840 --> 0:21:24.960 you know, maintain income coming in. If you do those things, 0:21:25.040 --> 0:21:26.840 you know there are deals to be had in every market, 0:21:26.920 --> 0:21:28.359 and if you're patient, you can find them. 0:21:28.480 --> 0:21:30.520 Okayva Fan, We're going to take a quick break and 0:21:30.600 --> 0:21:33.280 be right back with more Recession day, taking more of 0:21:33.320 --> 0:21:35.439 your questions about are we in a recession? Is it's 0:21:35.440 --> 0:21:38.400 a recession? What's going on? See y'all back after the break. 0:21:40.080 --> 0:21:47.480 We got another question, She wrote, No, it's that he Man. 0:21:47.680 --> 0:21:48.880 I don't remember one of those. 0:21:49.680 --> 0:21:53.040 You know, he Man was the the whatever, the initial 0:21:53.720 --> 0:21:57.040 like character from Hannah Barbara. I think whatever, and then 0:21:57.160 --> 0:21:59.919 she wrote was like the girl's version. But I love 0:22:00.160 --> 0:22:01.879 me some she row so she ro barely. 0:22:03.119 --> 0:22:04.400 How do we prepare? Honestly? 0:22:04.720 --> 0:22:04.840 Who? 0:22:05.359 --> 0:22:06.439 Great question? 0:22:07.240 --> 0:22:08.840 So one of the things I tell people, and I've 0:22:08.840 --> 0:22:10.520 been saying this for a long time, you got to 0:22:10.640 --> 0:22:12.880 drop down and get your noodle on. Girl, drop down 0:22:12.920 --> 0:22:13.680 and get your noodle on. 0:22:14.200 --> 0:22:17.920 So what is that you have to know today? 0:22:17.960 --> 0:22:21.840 If you don't do nothing else today, calculate your noodle budget. 0:22:21.920 --> 0:22:25.320 That is your ramen noodle budget. Think about back in college. 0:22:25.359 --> 0:22:27.240 You know you'd eat them nasty ramen noodles. I'm not 0:22:27.280 --> 0:22:30.280 talking about the delicious ones from like the authentic Asian restaurant. 0:22:30.280 --> 0:22:32.400 I'm talking about the plastic ones from the twenty five 0:22:32.480 --> 0:22:36.080 cent pack. So you know, your noodle budget really is 0:22:36.240 --> 0:22:39.000 your If I had to eat ramen noodles, if I 0:22:39.040 --> 0:22:41.080 had to get rid of the excess and only take 0:22:41.119 --> 0:22:44.760 care of the necessities, you know, what would my budget be. 0:22:44.880 --> 0:22:47.200 So maybe your life costs you four thousand dollars a month. 0:22:47.280 --> 0:22:48.480 You know you get your hair done every once in 0:22:48.520 --> 0:22:50.320 a while, nails a little bit, go out with the girls. 0:22:50.920 --> 0:22:54.320 But if you were to cut out those luxuries and 0:22:54.560 --> 0:22:57.000 just got down to the necessities, by the health and 0:22:57.040 --> 0:22:59.520 safety things that you must have, what would your life 0:22:59.520 --> 0:23:01.600 cost you? You could save six hundred bucks a month 0:23:01.640 --> 0:23:04.200 and instead of four thousand, it cost you thirty four 0:23:04.280 --> 0:23:07.560 hundred dollars. You don't have to live at your noodle budget, 0:23:07.720 --> 0:23:10.600 but you need to know what it is in case 0:23:10.800 --> 0:23:14.520 you hit a financial roadblock, you lose your job, things 0:23:14.560 --> 0:23:16.360 get too expensive, like the things you need to get 0:23:16.400 --> 0:23:18.840 too expensive. You know what your noodle budget is and 0:23:18.920 --> 0:23:21.560 you can drop down to it because if you don't, 0:23:21.800 --> 0:23:25.280 so many people end up losing their job and they 0:23:25.400 --> 0:23:27.480 lose their house and their cable is still on. I 0:23:27.560 --> 0:23:31.040 am people that was me where I still had these 0:23:31.119 --> 0:23:33.800 like expenses that were draining me even though I had 0:23:33.880 --> 0:23:35.720 just lost my job. And so if I would have 0:23:35.760 --> 0:23:37.280 dropped down and got my noodle on, I would have 0:23:37.320 --> 0:23:40.680 had excess money to live a little longer at my 0:23:40.800 --> 0:23:43.720 current space, and then also excess money to possibly put 0:23:43.760 --> 0:23:46.359 out for saving. So first things first is like, you know, 0:23:46.640 --> 0:23:50.280 cut back expenses if you can save as much as 0:23:50.320 --> 0:23:52.320 you can, because that's what's going to see you through 0:23:52.840 --> 0:23:56.880 reduce your debt payments. You know, if you're able, definitely 0:23:56.960 --> 0:24:00.600 call your service providers if you're experiencing hardship. They so 0:24:00.720 --> 0:24:02.920 many of them, especially now with the pandemic, they have 0:24:03.119 --> 0:24:04.879 hardship departments that can help you. 0:24:05.760 --> 0:24:08.240 Talk us about like reducing your debt payments for a minute, 0:24:08.240 --> 0:24:11.080 because I was talking to one of my one of 0:24:11.160 --> 0:24:13.840 my Mandy money makers, and she was just saying, like 0:24:14.359 --> 0:24:17.360 I because of interest rates rising, like credit card debt 0:24:17.440 --> 0:24:19.760 is getting more expensive, right, So if you're carrying credit 0:24:19.800 --> 0:24:23.359 card debt, like, there's things you can do to consolidate. 0:24:23.440 --> 0:24:26.240 So in her example, she did a balance transfer. So 0:24:26.359 --> 0:24:29.480 if you've got lingering consumer debt, you know, I feel like, 0:24:29.680 --> 0:24:32.119 let's talk about some ways you can like actually tackle 0:24:32.200 --> 0:24:35.240 that to reduce your debt. So like balance transfer, you 0:24:35.359 --> 0:24:38.440 can do a debt consolidation loan. So if you go 0:24:38.520 --> 0:24:40.440 to like a credit union and get a personal loan 0:24:40.520 --> 0:24:41.920 and then you use that to pay off your credit 0:24:42.000 --> 0:24:44.800 card debt, but actually like make a plan for it 0:24:45.040 --> 0:24:47.359 because it's only going to get more expensive. And the 0:24:47.359 --> 0:24:50.800 beauty of those personal loans they come with a fixed interest, right. Yeah, 0:24:50.840 --> 0:24:54.160 So it does not change, unlike your credit card debt, 0:24:54.200 --> 0:24:56.000 which is like all over the place. 0:24:57.240 --> 0:24:58.720 Yeah, that's great, and you're right. I met she Ro 0:24:58.920 --> 0:25:02.080 not she wrote ba Yeah got me. I was like sheh, 0:25:02.200 --> 0:25:04.280 like I was where I saw she Row? Did I 0:25:04.320 --> 0:25:05.040 read that wrong too? 0:25:05.560 --> 0:25:08.720 Her name is she Row, but I called her she Rah, 0:25:09.000 --> 0:25:11.960 which it was the opposite of he man she ruh. 0:25:12.480 --> 0:25:15.399 Either way, you knew what I was talking about. Thanks poison. 0:25:15.440 --> 0:25:20.880 I yes, Ah. Let's see who's next. Let's see Callicia. 0:25:22.160 --> 0:25:23.040 Let's see Calicia. 0:25:23.119 --> 0:25:26.960 How do you think federal student loan repayment may be impacted? 0:25:27.240 --> 0:25:30.679 We're supposed to start repayment, but if we're in a recession, 0:25:31.040 --> 0:25:33.000 are people going to be able to pay? 0:25:34.400 --> 0:25:34.600 Yeah? 0:25:34.880 --> 0:25:36.760 I feel like this is like a more political question 0:25:36.880 --> 0:25:40.920 than anything else. I honestly think the listen and I mean, 0:25:41.560 --> 0:25:43.879 we're we welcome all political beliefs here. But it's not 0:25:44.000 --> 0:25:46.920 looking good for democrats. It's not looking good for progressives. 0:25:46.960 --> 0:25:50.720 Like inflation, it's it's killing people, you know, not killing, 0:25:50.800 --> 0:25:54.159 but it's really, you know, hurting people financially. And I 0:25:54.200 --> 0:25:56.440 think I read a stat that's something like even though 0:25:56.440 --> 0:25:59.480 we're you know, the official official recession bell has not 0:25:59.520 --> 0:26:02.400 been rung yet still like more than half of Americans 0:26:02.440 --> 0:26:05.160 think feeling like we're are in a recession, right, that's 0:26:05.240 --> 0:26:09.440 bad for Democrats, And I feel like for popularity's sake, 0:26:09.520 --> 0:26:12.560 going into the fact that we have midterm elections in November. 0:26:12.800 --> 0:26:15.480 Midterm elections are really really important, you guys. You know, 0:26:15.640 --> 0:26:19.919 this is when senators representatives in Congress are getting elected, 0:26:20.000 --> 0:26:22.480 going up for re elections, So please vote. But I 0:26:22.560 --> 0:26:26.000 think maybe to maintain popularity, I wonder if they wouldn't 0:26:26.080 --> 0:26:29.480 just continue, like extend it again, because they said they 0:26:29.520 --> 0:26:31.880 were going to end it almost every quarter. I feel 0:26:31.960 --> 0:26:34.080 like for the past couple of like the past year, 0:26:34.720 --> 0:26:38.160 and I think because of how unpopular you know, Democrats 0:26:38.200 --> 0:26:40.840 are right now, they may try to like win us over, 0:26:41.359 --> 0:26:43.920 which is not a bad thing. But you know, time 0:26:43.960 --> 0:26:44.320 will tell. 0:26:44.760 --> 0:26:47.240 What do you think to no, I agree, I think 0:26:47.320 --> 0:26:49.719 that there's no way to know, Like you know, they 0:26:49.880 --> 0:26:50.240 might pitch. 0:26:50.400 --> 0:26:51.800 We don't get to decide, you know, we have to 0:26:51.880 --> 0:26:54.840 just wait, honestly for the what the president and his 0:26:54.960 --> 0:26:56.119 administration are going to do. 0:26:56.960 --> 0:26:58.800 Now, will if it does come back, will people be 0:26:58.840 --> 0:26:59.639 able to afford it? 0:27:00.440 --> 0:27:05.280 It really depends on that individual person, you know, the 0:27:05.359 --> 0:27:08.840 good thing about federal student loans, though, if you are 0:27:08.880 --> 0:27:11.520 in hardship, you can still apply for some sort of 0:27:11.560 --> 0:27:15.680 hardship assistance for bear deferment or for bearans, so you 0:27:15.760 --> 0:27:17.720 can that that's not gonna be taken off the table. 0:27:17.760 --> 0:27:20.240 So if you're like I can't afford it, as long 0:27:20.280 --> 0:27:23.760 as you have not maxed out how many deferments or 0:27:23.760 --> 0:27:26.720 how many forbearance, I'm asked, if you've taken up, then 0:27:26.800 --> 0:27:28.359 you can still do that if you still need to help. 0:27:28.400 --> 0:27:31.879 Because I was the deferment queen. Okay, Like I was 0:27:31.920 --> 0:27:37.120 like girl defer deffer so until I got on my feet, 0:27:37.280 --> 0:27:40.920 So that is also an option. Can I just say, like, 0:27:41.000 --> 0:27:44.200 despite it being like scury time, if you have like 0:27:44.400 --> 0:27:47.520 if you have been you know you have a stable job. 0:27:47.680 --> 0:27:52.080 I mean no job honestly is one hundred percent right, 0:27:52.160 --> 0:27:53.840 And so if you. 0:27:54.240 --> 0:27:56.480 Are like, Okay, I'm pretty solid in my job. I've 0:27:56.520 --> 0:27:59.920 got good savings, you know, I'm my dad is pretty 0:28:01.560 --> 0:28:04.320 I'm living below my knee means, and I've got you know, 0:28:04.400 --> 0:28:07.359 I'm ready kind of to like invest, you know, now is. 0:28:07.359 --> 0:28:07.960 A good time. 0:28:08.480 --> 0:28:11.560 Like so the thing about a recession, I have just 0:28:11.880 --> 0:28:12.960 like wrote notes on it, and I was like, I 0:28:13.040 --> 0:28:15.840 wanted to say exactly roid, which is. 0:28:17.480 --> 0:28:17.520 What. 0:28:17.760 --> 0:28:21.240 So what happens during a recession is that good assets 0:28:21.359 --> 0:28:25.760 go on sale. So assets can be at homes, could 0:28:25.800 --> 0:28:30.320 be businesses, could be the market, so bond stocks, good 0:28:30.480 --> 0:28:34.000 assets go on sale during recession. So if you are 0:28:34.320 --> 0:28:38.400 financially stable and you've accumulated a decent amount of savings, 0:28:38.800 --> 0:28:41.600 you can go shopping for things that are only down 0:28:41.680 --> 0:28:44.960 because the economy is not down, not because something happened 0:28:44.960 --> 0:28:45.600 to that company. 0:28:45.880 --> 0:28:47.080 And so that is an opportunity. 0:28:47.080 --> 0:28:51.360 That's why recessions honestly generate more millionaires than any other 0:28:51.560 --> 0:28:55.880 time in economic history, because people who start off with 0:28:56.480 --> 0:28:59.800 you know, a few hundred thousand or or a few 0:28:59.840 --> 0:29:02.440 things or one hundred thousand or whatever. You know, people 0:29:02.480 --> 0:29:04.920 who start off with that and invest when in good 0:29:05.040 --> 0:29:07.680 assets that just are currently on sale. When the sale 0:29:07.800 --> 0:29:11.520 is over, their asset just goes up through no work 0:29:11.560 --> 0:29:13.200 on their part, and all of a sudden, they owe 0:29:13.560 --> 0:29:16.000 you know, they own twice as much, three times as much, 0:29:16.040 --> 0:29:18.600 four times as much as a result of investing when 0:29:18.640 --> 0:29:20.960 something was down, just because the economy was down. 0:29:21.000 --> 0:29:22.400 So just keep that in mind too. That is not 0:29:22.520 --> 0:29:24.760 all doom and gloom. 0:29:25.880 --> 0:29:28.320 Yeah, all the more reason if you already are contributing 0:29:28.360 --> 0:29:30.400 to your four one K or your IRA, just keep 0:29:30.440 --> 0:29:33.640 those automatic payments going, Just keep it going, don't do anything. 0:29:34.400 --> 0:29:36.680 Should we take another question from the crowd, How about 0:29:37.120 --> 0:29:37.600 what's next? 0:29:37.680 --> 0:29:38.160 Abigail? 0:29:38.480 --> 0:29:41.160 Abigail's question? Would it be wise to ask our boss 0:29:41.840 --> 0:29:43.840 what they are planning to do to get us by 0:29:43.960 --> 0:29:46.080 in the recession? I love this question. 0:29:46.120 --> 0:29:46.960 I'm getting this a lot. 0:29:47.080 --> 0:29:47.400 I don't know. 0:29:47.720 --> 0:29:50.360 I would not be at all afraid to ask that question. 0:29:50.440 --> 0:29:53.520 I think it's an obvious one. I would start with 0:29:53.600 --> 0:29:55.360 your boss. Just be prepared if your boss is like 0:29:56.440 --> 0:29:59.040 because I'm a manager and I you know, my my, 0:29:59.560 --> 0:30:01.920 you know, arching orders come from the top. But I 0:30:01.960 --> 0:30:04.160 think that you can absolutely ask, you know, do you 0:30:04.320 --> 0:30:07.200 foresee this impacting our team? And is there a plan 0:30:07.280 --> 0:30:10.000 in place? And it's a really good time to get 0:30:10.040 --> 0:30:11.080 a sense from your company. 0:30:11.200 --> 0:30:12.320 Do they have some shit together? 0:30:12.720 --> 0:30:16.120 And is there a strategy? You know, are we well prepared? 0:30:16.640 --> 0:30:19.320 I had the benefit of working for like startups and 0:30:19.400 --> 0:30:22.320 then big companies that had been around for decades. And 0:30:22.400 --> 0:30:25.239 what I found at you know, places that I've been 0:30:25.240 --> 0:30:27.600 around for decades, They've endured a couple of recessions at 0:30:27.640 --> 0:30:29.280 this point, the same way Tiff and I have were 0:30:29.360 --> 0:30:33.560 like old crotch d like third recession. So I feel 0:30:33.600 --> 0:30:35.920 like companies that have been standing their ground for a 0:30:35.960 --> 0:30:38.520 long time, they've already gone through things like this, you know, 0:30:38.720 --> 0:30:42.640 and they've proven resilient because they're still standing. So you 0:30:42.680 --> 0:30:45.040 can even look to the past, how has the company 0:30:45.120 --> 0:30:50.160 in the past responded to recessions and economic downturns? And 0:30:50.440 --> 0:30:52.480 if you're interviewing right now, I know we're talking about 0:30:52.480 --> 0:30:54.480 someone who's working, but if you're interviewing and you're thinking 0:30:54.520 --> 0:30:57.280 about joining a new company, ask yourself like or even 0:30:57.320 --> 0:31:00.280 ask the recruiter or the hiring manager, how have you 0:31:00.360 --> 0:31:03.400 guys responded to economic downturns in the past, and what's 0:31:03.440 --> 0:31:07.240 that response looked like. I think it's definitely a fair 0:31:07.360 --> 0:31:09.600 question to ask, for sure. 0:31:09.840 --> 0:31:12.320 Yeah, because honestly, what we talk about. 0:31:12.680 --> 0:31:17.320 So for my companies, during like the twenty twenty like 0:31:17.400 --> 0:31:21.160 Minivum session, when the pandemic hit, I remember being like, okay, 0:31:21.160 --> 0:31:23.720 because before I'm a pretty decent saver, but I said, 0:31:24.440 --> 0:31:27.040 you know, if during the pandemic we're able to maintain 0:31:27.280 --> 0:31:29.560 we had a really good year because quite honestly, financial 0:31:29.600 --> 0:31:32.080 brands tend to do really well during economic downturn because 0:31:32.080 --> 0:31:35.560 you'll be like, hey, So I said, okay, we're seeing 0:31:35.560 --> 0:31:39.400 an uptick on like most industries. But I knew good 0:31:39.440 --> 0:31:40.040 things don't. 0:31:39.880 --> 0:31:40.600 Last all ways. 0:31:41.080 --> 0:31:43.360 So what I did was, I said, okay, we're going 0:31:43.440 --> 0:31:46.240 to push from having I think at the time, we 0:31:46.320 --> 0:31:48.600 had two months worth of emergency savings, so like our 0:31:48.680 --> 0:31:53.160 total operating expenses including payroll saved, and we pushed and 0:31:53.240 --> 0:31:55.520 I pushed and I pushed to get to six months. 0:31:55.720 --> 0:31:59.760 So all of my companies have six months worth of 0:32:00.000 --> 0:32:04.280 operating expenses including payroll saved UMP, so just in case 0:32:04.680 --> 0:32:06.680 I don't make it home to you know what I mean. 0:32:07.000 --> 0:32:11.600 So that helps a lot with any instability that might 0:32:11.640 --> 0:32:13.680 come up. I saw that Microsoft this is doing I 0:32:13.720 --> 0:32:15.200 don't know what they're doing now, but this is during 0:32:15.240 --> 0:32:18.760 the pandemic. They had one year worth of operating expenses, 0:32:19.200 --> 0:32:21.400 and I said, if it's good for the goose, gosh darn, 0:32:21.480 --> 0:32:24.200 it's good for the gander. And so that's what that's 0:32:24.240 --> 0:32:25.600 what made me say, like, I don't know if I'm 0:32:25.600 --> 0:32:27.840 going to do a whole year, but six months was good. 0:32:27.920 --> 0:32:30.440 So it allows us to in the back of my head, 0:32:30.440 --> 0:32:32.960 I think to myself, well, we have six months or 0:32:33.040 --> 0:32:36.440 more to get to figure out and pivot just in 0:32:36.520 --> 0:32:38.120 case something really detrimental happens. 0:32:39.280 --> 0:32:43.120 All right, let's take a next question from Cynthia. Cynthia says, 0:32:43.280 --> 0:32:46.080 I am in real estate law. If interest rates continue 0:32:46.120 --> 0:32:48.840 to climb, I'm concerned that this will impact my job. 0:32:49.360 --> 0:32:52.240 Do you think foreclosures will rise like they did in 0:32:52.320 --> 0:32:53.360 two thousand and eight? 0:32:54.360 --> 0:32:55.280 Very good question. 0:32:56.240 --> 0:32:59.280 Well, could I just say that the repullman has been 0:32:59.320 --> 0:33:03.560 coming for y'all cars, you know, the car cars. What 0:33:03.800 --> 0:33:06.840 it's there is there's been a huge uptick Mandy in 0:33:07.320 --> 0:33:10.040 car repossessions, which is a one of the key indicators 0:33:10.040 --> 0:33:10.680 for a recession. 0:33:11.280 --> 0:33:13.680 Huge uptick on car repossessions. 0:33:14.080 --> 0:33:16.959 So of course cars are not the same as homes, 0:33:17.480 --> 0:33:19.160 you know, because obviously, like you know, you don't have 0:33:19.200 --> 0:33:20.920 a car and you can't get around, but you don't 0:33:20.960 --> 0:33:23.240 have a home and where you live. But I would 0:33:23.320 --> 0:33:26.160 just say that, like, I don't know if what that 0:33:26.280 --> 0:33:28.320 means for foreclosures, but I do know when people have 0:33:28.440 --> 0:33:31.800 hard financial times, they can't for their financial obligations and 0:33:31.920 --> 0:33:33.760 they're not they're not quick to say I'm not. 0:33:33.760 --> 0:33:34.440 Paying for my home. 0:33:34.640 --> 0:33:37.200 So what you usually see is this if you remember 0:33:37.360 --> 0:33:40.880 during the two thousand and like nine ten eight recession, 0:33:41.000 --> 0:33:44.880 right that the home market, the home we didn't see 0:33:44.880 --> 0:33:46.400 the crash until years later. 0:33:46.800 --> 0:33:50.240 It's a delayed response because it takes people a while. 0:33:50.280 --> 0:33:51.800 They're like, well, I'm not gonna pay my cable bill, 0:33:52.040 --> 0:33:54.680 I'm not gonna pay my cell phone. Oh, I'm not 0:33:54.720 --> 0:33:57.000 gonna pay my car. I'm not gonna So it's usually 0:33:57.120 --> 0:33:59.680 what you see is a ripple, and the homes come later. 0:34:00.040 --> 0:34:02.800 So if it's going to happen where we see this 0:34:02.960 --> 0:34:05.880 increase in like foreclosures, you know, I don't think it's 0:34:05.920 --> 0:34:08.280 going to be like this instant. You know that instead 0:34:08.800 --> 0:34:10.719 that it will be a ripple of all of these 0:34:10.800 --> 0:34:14.640 other economic downturns because people unemployment is down, so people 0:34:14.640 --> 0:34:16.480 still have jobs in order to pay for homes. So 0:34:16.520 --> 0:34:18.960 I just say all that to say that I don't 0:34:18.960 --> 0:34:20.880 know that I would switch markets, you know, because at 0:34:20.880 --> 0:34:23.600 the end of the day, people are needed in every 0:34:23.920 --> 0:34:27.520 single sector in an industry that we have now, they 0:34:27.640 --> 0:34:29.719 just it just means that it might look different. So 0:34:29.880 --> 0:34:31.440 I would just keep my eyes and ears open of 0:34:31.600 --> 0:34:33.560 like what a pivot and if you're interested in this 0:34:33.719 --> 0:34:36.360 industry still, what a pivot might look like. 0:34:36.440 --> 0:34:37.560 In case that does happen. 0:34:38.320 --> 0:34:40.319 Can we also talk about you know, it's very thinks. 0:34:40.360 --> 0:34:41.920 A lot of things are very different than they were 0:34:42.000 --> 0:34:43.440 in two thousand and eight. There were a lot of 0:34:43.560 --> 0:34:47.239 bad mortgages being sold to families. But prior to the 0:34:47.320 --> 0:34:49.800 two thousand and eight housing crash, and that's why we 0:34:49.880 --> 0:34:52.840 saw so much foreclosure because you know, people were getting 0:34:52.880 --> 0:34:55.359 homes that they just could not afford financially, and they 0:34:55.400 --> 0:34:59.120 were getting huge mortgages and taking on lots of yeah, 0:34:59.280 --> 0:35:02.400 lots of dice the financial situations because they were so 0:35:02.560 --> 0:35:04.560 close to the edge. And so when we did see 0:35:04.600 --> 0:35:06.719 that decline in the economy and jobs were lost in 0:35:06.760 --> 0:35:10.120 all of that, like really quickly, tons of people were 0:35:10.239 --> 0:35:13.359 just way too over mortgaged and that's why you saw 0:35:13.640 --> 0:35:16.520 so many foreclosures and short sales and things like that. 0:35:17.080 --> 0:35:20.680 I feel like this time around, debt or sorry not debt, 0:35:20.719 --> 0:35:24.680 but underwriting for mortgages is stricter now because of policies 0:35:24.719 --> 0:35:26.759 that were put in place after the recession. You've got 0:35:26.880 --> 0:35:31.560 institutions like the Consumer Financial Protection Bureau, which are you know, 0:35:32.360 --> 0:35:36.040 watchdogs for lenders and making sure that they're abiding by 0:35:36.080 --> 0:35:39.319 those policies. Also, I think we're savvyer as consumers. I mean, 0:35:39.320 --> 0:35:41.279 i'd like to think you listening to Brian ambition, Like, 0:35:41.480 --> 0:35:45.480 you know, hopefully we are more financially prepared. And because 0:35:45.520 --> 0:35:47.839 of the pandemic and those stimulus checks. If you've been 0:35:47.920 --> 0:35:50.880 like you know, stacking your coins and saving and investing, 0:35:51.320 --> 0:35:53.839 you're more resilient if that were to happen. Maybe you're 0:35:53.880 --> 0:35:56.960 not as quickly to like lose your house. So it's 0:35:57.000 --> 0:35:59.000 not exactly the same as two thousand and eight, I 0:35:59.080 --> 0:36:03.960 will say that. And so also like there's programs in place, 0:36:04.000 --> 0:36:06.000 so if you're struggling to buy your home, like contact 0:36:06.040 --> 0:36:10.560 your lender, you know, see what kind of hardship you know, 0:36:10.680 --> 0:36:13.880 programs they may have, and just ask for help, you know, 0:36:14.480 --> 0:36:16.440 before you get to that point. That's what I'll add there. 0:36:17.200 --> 0:36:22.120 Yes, next question on the docket, lou Louly Louli MoU 0:36:22.400 --> 0:36:27.480 I'm literally said, should I wait to get a home 0:36:27.640 --> 0:36:28.760 improvement loan? 0:36:29.280 --> 0:36:30.359 Not a he lock? 0:36:30.960 --> 0:36:33.759 Okay, so a he lock just so you guys know, 0:36:33.880 --> 0:36:37.239 it's a home equity line of credit that basically means 0:36:37.280 --> 0:36:39.040 you borrow against the house the house is almost like 0:36:39.040 --> 0:36:42.839 a credit card and you tap into it because banks 0:36:42.880 --> 0:36:44.560 are like worst case scenario, don't pay me back, I 0:36:44.640 --> 0:36:46.800 take your houses and then I use it the paybyback. 0:36:47.120 --> 0:36:49.800 So that's my home equity line of credit. So she's asking, 0:36:51.280 --> 0:36:53.680 you know, should she take out just you know, not 0:36:53.760 --> 0:36:55.640 a home equity line of credit, which most people tell 0:36:55.640 --> 0:36:58.520 you don't do it. Should she just take out an 0:36:58.560 --> 0:37:00.440 improvement loan, which you can do to, which is different 0:37:01.800 --> 0:37:03.040 personal personal? 0:37:03.400 --> 0:37:07.719 So my my only conception, Well, here's the thing. 0:37:07.840 --> 0:37:10.400 We've been spoiled with that super low interest rate that 0:37:10.440 --> 0:37:12.719 we had, and I know it's like, oh my god, like, 0:37:12.840 --> 0:37:14.600 oh my gosh, I'm gonna wait till the interest rate 0:37:14.640 --> 0:37:17.360 gets back down to two or three percent. Is probably 0:37:17.440 --> 0:37:21.800 not likely because that was a historic Wait what that 0:37:22.120 --> 0:37:25.560 was the gap selling Jeanes for fifty cents? That's just 0:37:25.719 --> 0:37:29.440 not you know that Like when my parents brought their 0:37:29.480 --> 0:37:32.319 house in the eighties, it was like interest rates were 0:37:32.360 --> 0:37:35.120 double digits. It was not uncommon to have ten twelve, 0:37:35.320 --> 0:37:38.800 So even five percent, that's like kind of like average, 0:37:38.880 --> 0:37:41.120 like you know, that's where So you know, I would 0:37:41.160 --> 0:37:43.560 say that if you were going to take out a 0:37:43.680 --> 0:37:45.600 you know, a personal loan and the house is going 0:37:45.680 --> 0:37:48.720 to be kind of like the backing for that. Typically 0:37:48.800 --> 0:37:54.400 personal loans where you have a a tangible asset as 0:37:54.440 --> 0:37:56.920 the backing that, the interest rate is typically better because 0:37:57.400 --> 0:37:59.680 companies feel like the bank feels like, worst case scenario, 0:37:59.719 --> 0:38:01.040 we could take your house if you don't have our 0:38:01.120 --> 0:38:03.359 money versus just like swiping a card to just having 0:38:03.400 --> 0:38:06.120 credit where there's like nothing backing it. They just have 0:38:06.200 --> 0:38:07.759 to like yell at you and try to get their money. 0:38:08.000 --> 0:38:10.439 That you should get a decent interest rate. I would 0:38:10.480 --> 0:38:13.640 look at your credit score and ask myself, okay, you know, 0:38:14.000 --> 0:38:15.680 is my credit score enough to get me the very 0:38:15.719 --> 0:38:18.360 best interest rate out there. I would also look to 0:38:18.480 --> 0:38:21.120 see like are you solid in other areas if you 0:38:21.239 --> 0:38:22.919 have other debt you're trying to pay down. I don't 0:38:22.960 --> 0:38:26.040 suggest people getting into more debt right before or during 0:38:26.080 --> 0:38:29.759 the pending recession unless they're super super solid in other 0:38:29.840 --> 0:38:32.160 areas and this is like, you know, this wouldn't be 0:38:33.000 --> 0:38:35.640 a hard burden to take on. You know, now is 0:38:35.719 --> 0:38:39.120 not the time to buy new stuff if we are 0:38:39.320 --> 0:38:41.960 entering into a recession. Like I said, technically, you know 0:38:42.719 --> 0:38:46.040 it's looking like a recession. But although they're not claiming 0:38:46.080 --> 0:38:48.480 it to be thus. So so I would just say, 0:38:49.000 --> 0:38:52.799 be mindful of your holistic financial overlook view and whether 0:38:52.920 --> 0:38:54.600 or not you should move forward, and if not, you 0:38:54.719 --> 0:38:56.160 might want to wait it out. 0:38:57.200 --> 0:38:59.879 Yeah, and shop and compare, Like, get some estimates. See 0:38:59.880 --> 0:39:01.960 if if you can get, you know, an estimate of 0:39:02.080 --> 0:39:04.880 what you're alone a home improvement loan, like a personal 0:39:04.960 --> 0:39:07.359 loan rate may be, and compare that to what an 0:39:07.520 --> 0:39:10.080 estimate of a rate may be for a heelock. If 0:39:10.120 --> 0:39:13.160 you work with a lender or a bank, then maybe 0:39:13.239 --> 0:39:15.000 you can compare. Maybe it's like I'll just choose the 0:39:15.080 --> 0:39:17.640 option that has the lower rate, but definitely, like keep 0:39:17.640 --> 0:39:19.640 in mind if you can't pay that back, your home 0:39:19.760 --> 0:39:21.879 is on the line. So I agree with Tiff. 0:39:22.080 --> 0:39:23.239 First of all, I love that some of you guys 0:39:23.280 --> 0:39:25.000 are sneaking watching at work. Like, well, let me not 0:39:25.040 --> 0:39:26.840 say love it because I got employees, but you know, 0:39:27.000 --> 0:39:29.480 I wouldn't be mad at them, Honestly, I would. 0:39:29.239 --> 0:39:30.839 Say, if you get to work done, star're. 0:39:30.560 --> 0:39:32.560 Talking about it at work anyway, might as well. 0:39:32.840 --> 0:39:35.480 Do it how you do it, you know, like oh, 0:39:35.760 --> 0:39:39.000 the Robinson Crue, what you had to say, Robin san Cruz, 0:39:39.640 --> 0:39:41.600 Robert Zuku, said, Oh, I love you ladies. 0:39:41.760 --> 0:39:44.240 You have changed my life in so many good ways. 0:39:44.440 --> 0:39:48.799 Yah, we ave a listener. We have a listener. Yuri 0:39:48.920 --> 0:39:52.239 from Australia who says, it's two twenty five am here, 0:39:52.320 --> 0:39:54.680 but I had to catch your live. I'm a diehard fan. 0:39:54.960 --> 0:40:00.800 Oh yeah, we love you too, we do, we do, mate, Cracky, 0:40:00.960 --> 0:40:04.560 I don't know. Oh my gosh. So we're going to 0:40:04.600 --> 0:40:11.440 wrap up. You have any closing thoughts? Yes, I am 0:40:11.480 --> 0:40:12.279 the career queen. 0:40:12.440 --> 0:40:14.399 I think that the career is the root of all 0:40:14.480 --> 0:40:17.080 of our you know, our wealth building and all of that. 0:40:17.280 --> 0:40:19.680 So for me, it's all about professional resilience. You know, 0:40:19.960 --> 0:40:22.400 whether you are worried about the job that you have 0:40:22.560 --> 0:40:24.520 now or thinking about the job that you want in 0:40:24.560 --> 0:40:26.560 the future and what this could mean for you, just 0:40:26.640 --> 0:40:28.719 bring it back to what you can actually control, and 0:40:28.800 --> 0:40:31.719 how are you building professional resilience so that you can 0:40:31.800 --> 0:40:34.719 weather any storm, not maybe not this recession, but the 0:40:34.760 --> 0:40:37.120 next one, because they're sure always going to be another one. 0:40:37.239 --> 0:40:40.799 So are you expanding your professional brand? Are you letting 0:40:40.840 --> 0:40:43.080 people know about all the excellent work that you're doing. 0:40:43.520 --> 0:40:46.880 Are you looking for opportunities for professional development, to invest 0:40:46.960 --> 0:40:49.480 in new skills? That are in demand for your field, 0:40:50.160 --> 0:40:53.160 are you, Like Tiffany always says, illustrating your oprah, so 0:40:53.320 --> 0:40:56.880 that people you're not someone's best kept secret, that they're actually, 0:40:57.200 --> 0:40:59.319 you know, aware of all the excellent work that you're doing. 0:40:59.719 --> 0:41:02.920 I have, I've got lots and lots of resources on 0:41:03.000 --> 0:41:05.680 this and how do it, you know, build professional resilience. 0:41:05.800 --> 0:41:07.839 You can check me out follow me at Mandy Money 0:41:08.200 --> 0:41:10.640 for all career advice. But that's my key takeaway is 0:41:10.719 --> 0:41:14.279 professional resilience. It will make you feel much more in 0:41:14.440 --> 0:41:16.960 control during times like that's when a lot of stuff 0:41:17.040 --> 0:41:18.680 is really out of our control at the end of 0:41:18.719 --> 0:41:19.000 the day. 0:41:19.960 --> 0:41:22.239 And my final words are just like kind of like, 0:41:22.320 --> 0:41:25.560 you know, just really think about hunkering down, you know, 0:41:25.920 --> 0:41:28.439 not getting into brand new debt right now unless it's 0:41:28.600 --> 0:41:32.160 absolutely necessary. Really trying to book up on that saving 0:41:32.360 --> 0:41:34.480 so you can have a little cushion just in case, 0:41:35.360 --> 0:41:37.200 but also booke upon savings so you can lean into 0:41:37.239 --> 0:41:39.960 invest in get the girl, get you them jeans on sale, 0:41:40.080 --> 0:41:45.240 you know, get these assets on sale, and honestly, remember 0:41:45.320 --> 0:41:48.440 people first, right, so checking on your people. I know 0:41:48.600 --> 0:41:51.040 this is not super moneyish advice, but like you know, 0:41:51.160 --> 0:41:53.880 sometimes people are struggling and they're not saying and so 0:41:54.239 --> 0:41:56.560 you know you're not alone in this. Checking on your people, 0:41:56.680 --> 0:41:59.399 have regular conversations. You want to make sure that if 0:41:59.440 --> 0:42:02.080 we do hit really bad economic times that you know 0:42:02.160 --> 0:42:04.080 people know they can you know, you're the people that 0:42:04.120 --> 0:42:06.319 you love and care about know that you are checking 0:42:06.360 --> 0:42:08.319 in on them. They can lean on you, you can 0:42:08.400 --> 0:42:11.600 offer support, they can offer you support. And continue to 0:42:11.640 --> 0:42:14.040 listen to Brown Ambition. Ooh, you know what, since we're 0:42:14.040 --> 0:42:17.440 doing and sidebar. Hello, this is like literally the recession 0:42:17.480 --> 0:42:20.000 book right here, Get Good with Money. Okay, if you're 0:42:20.160 --> 0:42:22.600 if you're listening and you're a listener instead of watcher, 0:42:22.640 --> 0:42:25.279 I'm holding up the book. Okay, no, but for real, 0:42:25.480 --> 0:42:28.440 I wrote it for times like this. It is to 0:42:28.680 --> 0:42:32.160 build times like this, you need a strong financial foundation. 0:42:32.719 --> 0:42:34.480 And that is what Get Good with Money is all about. 0:42:34.960 --> 0:42:37.800 That is what financial wholeness, that's the ten steps that 0:42:37.840 --> 0:42:39.240 I wrote about in the book is all about. 0:42:39.440 --> 0:42:41.480 You can get you a copy at get Good with 0:42:41.600 --> 0:42:44.120 Money dot com. And we love y'all. 0:42:44.600 --> 0:42:46.840 We love seeing y'all ey or hearing from y'all every Wednesday, 0:42:46.920 --> 0:42:49.319 every Friday. Just continue to listen and tell your friends 0:42:49.320 --> 0:42:50.680 about us. Because this is cute over here. 0:42:51.239 --> 0:42:52.319 Thank you, ba fan. 0:42:52.600 --> 0:42:53.279 We love y'all. 0:42:54.480 --> 0:42:55.839 We did Worthies. That was fun. 0:42:56.520 --> 0:42:57.120 That was fun. 0:42:58.440 --> 0:43:00.680 Hey ba Faan. We could not do this show without 0:43:00.719 --> 0:43:03.720 your support or the support of our team behind the scenes. 0:43:04.040 --> 0:43:07.640 The Brown Ambission podcast is produced by Cumulus Podcast Network. 0:43:07.719 --> 0:43:11.160 It's edited by the wonderful Imani Crosby and produced by 0:43:11.280 --> 0:43:15.000 Tanya Bustos. Dennis Stimplinsky is our in house tech curu, 0:43:15.440 --> 0:43:18.120 and I am Bandy Woodard Santos your co host, and 0:43:18.280 --> 0:43:20.000 I will see y'all next week.