Speaker 1: Hey, hey, hey, ba fan, we just had our first
Speaker 1: YouTube lib and it was amazing. If I do say
Speaker 1: so myself, and I do say so myself, listen, learn,
Speaker 1: take notes to your mama cousins. And then because we
Speaker 1: had a time, honey, we had a time last night,
Speaker 1: we are I'm.
Speaker 2: Welcome to right. This is our first BRUNNABISI live. Right
Speaker 2: it is.
Speaker 3: I feel very like it's a party, but also it's
Speaker 3: like a bad party.
Speaker 2: It's like wait, yeah, wait, okay.
Speaker 1: So this is the session day, July twenty eighth, twenty
Speaker 1: twenty welcome you, hey, hey, hey, ba fama. This yesterday
Speaker 1: our very first Brunnabashan live YouTube event. So it's time
Speaker 1: for some real talk all things sess you on. It
Speaker 1: is July twenty eighth, And if you've been listening to
Speaker 1: the podcast, you know what it really means that after
Speaker 1: weeks of hype, we finally have our first clues on
Speaker 1: whether or not we are really truly in a recession
Speaker 1: and the answer might surprise you. And we're gonna talk
Speaker 1: about how it's going to impact you, and we're gonna
Speaker 1: also talk about, you know, what you can do to
Speaker 1: not only survive but thrive through whatever it is economics
Speaker 1: or economics or economics economists are saying, right, So just
Speaker 1: so you know, typically folks say like a because I
Speaker 1: don't want to say economists again and say, oh, I
Speaker 1: got it. Okay, you got it. The econdomis called a session.
Speaker 1: It's called of a session. When the GDP, which is
Speaker 1: the gross oh my gosh, gross semestic domestic product, I'm.
Speaker 2: Like, we don't know. I'm gonna google real quick.
Speaker 1: We got the sline for two consecutive quarters. That means
Speaker 1: six months in a row. So the GDP really is
Speaker 1: like goods and services, right, and so for a country.
Speaker 1: And so we just found out that, yes, that has happened,
Speaker 1: and we just completed the second quarter of the year
Speaker 1: as of today.
Speaker 2: So right on Q.
Speaker 1: The US Bureau of Economic Analysis at leased their Advanced
Speaker 1: Estimate of economic growth this morning, and many's going to
Speaker 1: tell you what's the deal? What do they say? So
Speaker 1: we can gorgeer loins? Ok?
Speaker 3: Yeah, I never understood why it was pronounced gourd anyway. Yeah,
Speaker 3: So here's what's happening, y'all. A second straight corner. The
Speaker 3: US economy did shrink again zero point nine percent. That's
Speaker 3: never a great thing. It's less than the first court
Speaker 3: the last quarters you know declined, but still it's a
Speaker 3: second quarter of straight decline. So it's bad news bears
Speaker 3: for the US economy. A big part of that, of course,
Speaker 3: has been the fact that consumer spending has been slowing down,
Speaker 3: investments in business and the investments that businesses are making
Speaker 3: have been slowing down. It's not all bad news, though,
Speaker 3: And like this picture of what's going on in the
Speaker 3: economy is super complex, and the way that it's affecting
Speaker 3: you guys at home and even us, you know, in
Speaker 3: my basement and Tiffany, you know, in her beautiful office,
Speaker 3: it's all affecting us a little bit different. So I
Speaker 3: think we should have like an open conversation. I welcome
Speaker 3: you guys to ask your questions about, you know, what
Speaker 3: is concerning you, whether it's like financially or professionally, about
Speaker 3: the recession that we're in. And while you guys are
Speaker 3: submitting some questions, please do live chat and for those
Speaker 3: of you who are catching the replay, feel free to
Speaker 3: slide into our DMS. We're at Brand Ambition Podcast on
Speaker 3: ig with any questions that you guys have, or any
Speaker 3: thoughts or concerns but let's talk about some of the
Speaker 3: like what's really happening holistically, Tiff, Like, you know, yes,
Speaker 3: the GDP is down, Yes, inflation is.
Speaker 2: Hea Hi yes, hello, hello Hi.
Speaker 3: That's a huge contributing factor, even more so in this
Speaker 3: quarter to the slowdown in the GDP. Consumer spending, Like
Speaker 3: I don't blame people for spending less, yes, you know,
Speaker 3: I think like even personally, I'm doing things like I
Speaker 3: wasn't doing before, Like instead of ordering my groceries like
Speaker 3: I used to do that willy nilly, especially during the pandemic,
Speaker 3: order the groceries so I could pick them up and
Speaker 3: just you know, pop the trunk and they would deliver them.
Speaker 3: But I realized I'm spending more money doing that because
Speaker 3: of fees, and so I've actually like gone back to
Speaker 3: just shopping in person and like planning my little grocery trip.
Speaker 3: And I am like my husband and I it's really
Speaker 3: hard to not spend seventy five frickin dollars when we
Speaker 3: order out on the weekends and during the week So
Speaker 3: we've slowed down, you know, the restaurant eating.
Speaker 2: I'm trying to cook at home more.
Speaker 3: Because our grocery bill is crazy, like two three hundred
Speaker 3: dollars a week just buying regular stuff. And I feel
Speaker 3: like that's what a lot of people are feeling, right.
Speaker 1: No, absolutely, And something that I just want to preface
Speaker 1: this with is that I know, sometimes with sessions seem like,
Speaker 1: oh my gosh, what's going on? They are a natural
Speaker 1: part of the economic cycle. The sessions usually happen every
Speaker 1: ten to fifteen years or so. And truth be told,
Speaker 1: we have like that we went through our longest stretch
Speaker 1: of not having and we broke that stride in twenty
Speaker 1: twenty because you know, we had that mini recession in
Speaker 1: twenty twenty during that panorama, right, but that was the
Speaker 1: longest the US had ever gone in.
Speaker 2: Its history without a recession.
Speaker 1: So you know, we're kind of overdue because even though
Speaker 1: we had that panorama, we had that mini recession in
Speaker 1: twenty twenty. I didn't really feel it, y'all didn't really
Speaker 1: feel it. Why, because we were stimuli to death, right,
Speaker 1: We got all that mulus money. You ain't had to
Speaker 1: pay that mortgage, you had to pay that ring you
Speaker 1: had it been it'st alone. So as a result, you know,
Speaker 1: we're kind of like overdue for recession. Think of a
Speaker 1: recession as a refresh. Mandra and I were talking offline,
Speaker 1: and a recession is kind of like a like a
Speaker 1: forest fire, right, So forest fires are definitely devastating, but
Speaker 1: it is a way for mother and nature to reset.
Speaker 1: So typically a forest has reached capacity, it can no
Speaker 1: longer support itself. And so not the forest fires that
Speaker 1: I started by those folks who do like the pregnancy
Speaker 1: gender reveal and you know, pop off fireworks and burn
Speaker 1: down you know, a neighborhood. No, no, no, we're talking
Speaker 1: about natural forest fires that typically happen because there's a
Speaker 1: lightning storm, the lightning hits a tree, the tree lights
Speaker 1: everything on fire. It's because it is time for the
Speaker 1: force to reset, and recessions are a refresh.
Speaker 2: They helped to weed out to toxic assets.
Speaker 1: They helped to weed out bad investments, bad companies that
Speaker 1: are really not doing you know well and are actually
Speaker 1: bringing down the economy.
Speaker 2: So just I just wanted to for you to keep
Speaker 2: that in mind.
Speaker 1: But this was this recession non recession because the federal
Speaker 1: government is not claiming it, you know, you know how
Speaker 1: like your ex boyfriend wasn't trying to claim you. You know,
Speaker 1: they're not trying to claim it. Although you're like, but
Speaker 1: we live together. How you're not claiming me. That's how
Speaker 1: the recess is giving that like, so two consecutive quarters
Speaker 1: of down.
Speaker 2: Of downturn, but you're not claiming me.
Speaker 1: But the reason is because also I see someone asks
Speaker 1: a question about the job market, it's because unemployment is
Speaker 1: that a historic cloths literally generational lows. So typically during
Speaker 1: recession that's not so. But also inflation is at historic highs.
Speaker 1: People are not spending as much. They were support that
Speaker 1: came out with Walmart and Target. They were both saying
Speaker 1: how they're basically doing fire sales and selling off so
Speaker 1: much of their inventory at a loss because they experience
Speaker 1: inflation as well. So like companies have to pay more
Speaker 1: for goods and services, and then we also experience inflation
Speaker 1: as consumers, and they are cutting costs even though they've
Speaker 1: had to pay more for the product or service in
Speaker 1: order to present it to you. So you know, we're
Speaker 1: on this weird yoyo of like, but there's plenty of jobs,
Speaker 1: but people don't have, you know, the money to spend
Speaker 1: on things that Target and Walmart unless it's necessities. So
Speaker 1: I just wanted to give you like a broader perspective
Speaker 1: of like, what does that kind of look like?
Speaker 3: That's why I got a really good deal in an
Speaker 3: at Airondack chairs. Yes, well, should we go to the
Speaker 3: questions real quick? Hey, everybody, I see the comments. This
Speaker 3: is my first time on YouTube live, so I'm excited.
Speaker 3: And Tip does this like in her sleep, but I'm excited.
Speaker 3: So we see oh heyba and the chat. Okay, we
Speaker 3: got a question from let's say Carla. Carla asks what
Speaker 3: does this mean for job security? Do you think there
Speaker 3: will be layoffs?
Speaker 2: Yeah?
Speaker 3: Yeah, there already have been, you know, big companies. They're
Speaker 3: smaller companies that are that are making layoffs too. I
Speaker 3: mean we've seen companies like Twitter, Redfin, which is a
Speaker 3: big realtor like home buying you know company Shopify. Just
Speaker 3: this week, I have a friend out Shopify and he
Speaker 3: he said that there was ten percent cuts at Shopify,
Speaker 3: you know. So, yes, layoffs are happening. I think this
Speaker 3: is to be expected. One of the key indicators for
Speaker 3: you know GDP, which we're seeing declining, is the investments
Speaker 3: that businesses are making. And I think the one of
Speaker 3: the biggest investments businesses do make is people, so labor
Speaker 3: and it's often like we're expensive. Salaries are expensive, so
Speaker 3: you do see companies when they're trying to save, you know,
Speaker 3: potentially have layoffs. What I'm hearing, you know, as I'm
Speaker 3: a I do career code, and what I'm hearing from
Speaker 3: clients is I was in the interview process for such
Speaker 3: and such and I've been told that it's on pause
Speaker 3: for a while, you know. And I think maybe instead
Speaker 3: of like layoffs, which you may be encountering, is like
Speaker 3: those hiring freezes or hiring pauses where companies are just like,
Speaker 3: let's just chill, you know, let's just not say yes
Speaker 3: to new headcount or you know, new hires until we
Speaker 3: see how things shake out. But I think if you're
Speaker 3: someone who you're working now and you're concerned, you know,
Speaker 3: I think it's really industry specific. Have you noticed t
Speaker 3: if like a lot of recruiters have been getting laid
Speaker 3: off and it makes sense, yeah, you know, there's some.
Speaker 3: I think at Twitter, for example, it was only the
Speaker 3: first wave of layoffs were recruiters were like from the
Speaker 3: talent acquisition part, which like makes sense when you think
Speaker 3: about it, right, because I mean, if they're slowing down hiring,
Speaker 3: you need as many recruiters, and I think if you're
Speaker 3: you know, and and other jobs. By the way, you know,
Speaker 3: I still have clients for getting jobs at places like
Speaker 3: Google that's on job offers this week, so there's still
Speaker 3: lots of jobs to be had. But I think it's
Speaker 3: really like what is the skill set? Yeah, the type,
Speaker 3: And I think it's it's a good reminder of the
Speaker 3: importance of always investing in your skills and what and
Speaker 3: how you can develop yourself so that you are one
Speaker 3: of those people that it's harder for companies to lose,
Speaker 3: you know, in that opera, illustrate your Oprah for sure,
Speaker 3: and even thinking like okay, maybe instead of like sometimes
Speaker 3: at companies they may try to reassign you to another team.
Speaker 3: So what other skills do you have? What o their
Speaker 3: team could you see yourself fitting into? But yeah, I
Speaker 3: can understand why folks are a little concerned because layoffs
Speaker 3: they're not like at crazy crazy highs, but you know
Speaker 3: there are it is happening out there.
Speaker 1: Yes, So next question we're gonna go with Jessica. Jessica
Speaker 1: ask when do we start to see the impact later
Speaker 1: this year or mostly next year. Good question, Jessica. So
Speaker 1: we're already seeing the impact now. So I did see
Speaker 1: a quick question about are we in a recession? The
Speaker 1: answer is you're no, say meaning I don't know, right,
Speaker 1: so we let's we are in a recession ish So
Speaker 1: by technical definition of two consecutive quarters of economic downturn
Speaker 1: GDP going down, down, down, Yes.
Speaker 2: We have hit that.
Speaker 1: So the GDP they're officially announced, it's six months straight
Speaker 1: we've had of economic downturn. Okay, like a contraction in
Speaker 1: the economy, so less versus more. But we also have
Speaker 1: growth in other areas that typically would also indicate a recession.
Speaker 1: So it's like we down bad here, we upcute here.
Speaker 1: So they're like, eh, you know. So to answer your question, Jessica,
Speaker 1: like when we start to see the impact, you're seeing
Speaker 1: it now right, like one, because high inflation rates are
Speaker 1: are one of the recession indicators, and we're seeing that
Speaker 1: things costs more.
Speaker 2: I know, the last time you went.
Speaker 1: To the grocery store, you were like, oh, hell now right,
Speaker 1: the market is all over the place.
Speaker 2: You know, Well, she's down, down, down. I mean like
Speaker 2: it's like.
Speaker 1: People, I tell people, don't look at you, you don't
Speaker 1: look at your home. K leave that thing alone. Because
Speaker 1: that thing is haanging right now, so you're seeing that
Speaker 1: there as well.
Speaker 2: You might be seeing it.
Speaker 1: Like I mentioned earlier, some retailers are slashing prices because
Speaker 1: they have to get rid of inventory and get an
Speaker 1: inflection of cash because people are not buying past the necessities,
Speaker 1: so they are buying the TV.
Speaker 2: So people are sticking to groceries as they ought to.
Speaker 1: But groceries also have a low profit margin, meaning that
Speaker 1: they don't make a lot of money off groceries. So
Speaker 1: when you go to Target and you're like, ah, like
Speaker 1: we are all to do and you buy your groceries,
Speaker 1: Target is giving you groceries at like a discount because
Speaker 1: they know you're going mosey on over to other things.
Speaker 3: I have to avoid the home good section.
Speaker 2: Oh yes, I can't.
Speaker 3: Go over there.
Speaker 1: Home goods also like electronics, those are high margin item,
Speaker 1: meaning they can sell them at like at multiple So
Speaker 1: you buy it for a dollar, they you know, they
Speaker 1: buy it for a dollar, they settle to you for
Speaker 1: two and so.
Speaker 2: But people are not doing that. They're stacking just to grocery.
Speaker 1: So that's also an indicator meaning that like you're going
Speaker 1: to see the impact now and you will continue to
Speaker 1: see the impact, and if we enter into a like
Speaker 1: fully recognized a session, you will continue to see the
Speaker 1: impact during the recession and after the recession. And so
Speaker 1: so I hope that answers your question. Yes, so that
Speaker 1: they're like, yes, we're in the impact now, whether they
Speaker 1: call it a recession or not, we're feeling the impact now.
Speaker 3: Absolutely, we feel in it. We had a late comer,
Speaker 3: so she asked, are we in a recession? Yeah, ish,
Speaker 3: we're in the latest data again for those late comers,
Speaker 3: zero point nine percent decline in GDP. This is a
Speaker 3: second quarter of straight decline. So it's not looking great.
Speaker 3: It's not looking great, but we are trying to talk
Speaker 3: about other indicators. And let's take a question. Where did
Speaker 3: I see it, Ashanti? Yes, Ashanti. Ashanti says, I'm currently
Speaker 3: unemployed due to my job ending and I'm looking for
Speaker 3: better opportunities. Would the possibility of a recession affect my
Speaker 3: abilities to negotiate for more money? So here's some good news, Ashanti. Actually,
Speaker 3: wages are still up. So wages have increased somewhere between
Speaker 3: like four and five percent this year, and labor demand
Speaker 3: is really strong. I mean, I love this. I'm gonna
Speaker 3: can I post a link. Anyway, there's a there's something
Speaker 3: called the Hiring Lab and it is a study and
Speaker 3: research set. Indeed, dot Com which is like one of
Speaker 3: the biggest job posting sites, you guys know that. Indeed,
Speaker 3: they have been tracking job opening since the pandemic. Job
Speaker 3: openings are still up over fifty percent compared to the
Speaker 3: beginning of the pandemic, so wages are up, demand for employees,
Speaker 3: demand for labor is still strong. So if you're in
Speaker 3: the job market, it could actually be a great time
Speaker 3: for you to negotiate for more. And I wouldn't want
Speaker 3: anyone to think I should accept less or let me
Speaker 3: like low ball myself because I want to have a
Speaker 3: good chance at getting a job. Try to resist that.
Speaker 3: But that being said, think about the field that you're
Speaker 3: in and is the demand of especially for your skill set.
Speaker 3: Don't know what fel what field you are in particularly,
Speaker 3: but you know you may have a bit of an
Speaker 3: easier time negotiating more pay if you're in like a
Speaker 3: high demand field versus like we were talking about earlier
Speaker 3: about people in recruiting or the talent acquisition field. Maybe
Speaker 3: a little bit trickier, but there's still reasons to be
Speaker 3: optimistic about your job search for sure? Good?
Speaker 1: All right, it looks like Tamika has a question. Tamika,
Speaker 1: will inflation ever go back down?
Speaker 2: Make me?
Speaker 3: Let me get my crystal ball? Hold on where not
Speaker 3: put it? It's around here somewhere.
Speaker 2: Well, here's what I'll say, although we don't have a
Speaker 2: crystal ball.
Speaker 1: Typically, the United States has a stable inflation rate about
Speaker 1: one to three percent, which we have maintained for many, many,
Speaker 1: many years.
Speaker 2: This inflation rate of like what we're over nine percent now?
Speaker 3: Is it's Craig Cray.
Speaker 1: Yes, it's not our typical so of course there's no
Speaker 1: way for us to know. But if we're going to
Speaker 1: look at history that you know, we can we can
Speaker 1: postulate that inflation hopefully will return to a to a
Speaker 1: you know, like our normal inflation a rate of one
Speaker 1: to three percent, I mean, because we cannot continue to
Speaker 1: maintain at this at this inflation rate.
Speaker 2: This is why, honestly why you see the Feds raising rates.
Speaker 1: Because when when things whenever there is an issue with
Speaker 1: the economy, they don't have too many tools to navigate.
Speaker 1: They can give away money, they can offer aid to
Speaker 1: say you don't have to pay for things, but they
Speaker 1: can also like restrict access to credit, and they do
Speaker 1: this by raising rate rates, right, They're like, hey, you
Speaker 1: know the the you know what you're going to pay
Speaker 1: for your interest rate that you're going to pay for
Speaker 1: a house or a car is going to eliminate some
Speaker 1: people from being able to afford our house or car.
Speaker 1: These are the these are the tools that the Feds
Speaker 1: have at there and the federal government has at their disposal.
Speaker 1: So I say all that to that they use these
Speaker 1: tools to hope to stabilize the economy. So I would
Speaker 1: hope that they would bring the inflation rate back then
Speaker 1: or else we're in big trouble. And if we look
Speaker 1: at history, history tells us that, like they should be
Speaker 1: able to do so.
Speaker 3: Well, let's talk about one of the biggest drivers of
Speaker 3: inflation too, which has been the fact that, like there
Speaker 3: has been increased demand for stuff, but because of the pandemic,
Speaker 3: like we're still in this period where companies can't create
Speaker 3: this stuff as fast as they used to or to
Speaker 3: meet that demand. So like it's classic. Even me with
Speaker 3: my B and econ, I can tell you that when
Speaker 3: supply decreases and you got more people wanting stuff, then
Speaker 3: you know that can lead to some inflation. So hopefully,
Speaker 3: once you know, companies get a handle on their supply
Speaker 3: chains and we're able to like level things out, we
Speaker 3: may see that come back to a little bit of normalcy.
Speaker 3: But I feel like one of the biggest things you
Speaker 3: mentioned the FED rate hike, and I want to go
Speaker 3: to Jessica Rogers' question.
Speaker 2: She asks, what.
Speaker 3: Could this mean for home buying? And this increase in
Speaker 3: FED rates directly, it doesn't. Actually it's like a myth
Speaker 3: that when the FED increases rates that mortgage rates fall
Speaker 3: and stuff with that. But because because the FED rate
Speaker 3: impacts other parts of the system, it typically like indirectly
Speaker 3: impacts mortgage rates. So rates are getting more expensive, and
Speaker 3: we have seen, like I was just reading this article
Speaker 3: that said that, you know, because people are facing higher
Speaker 3: mortgage costs, like the fact that you could get like
Speaker 3: a two percent interest rate during the pandemic and now
Speaker 3: it's like what four or five percent. It's it's getting
Speaker 3: really expensive. Plus there's just not a lot of homes
Speaker 3: out there. Yeah, we're already like Craig Cray high, So
Speaker 3: it's actually Americans are canceling their deals to purchase homes
Speaker 3: at the highest rate since the start of the pandemic,
Speaker 3: And I think that must be because they're like sticker
Speaker 3: shock one thing, and then it's like maybe weight for
Speaker 3: rates to come back down, because obviously mortgage rates can
Speaker 3: go up and down. So like, if you're not rest
Speaker 3: right now to buy a home, you may want to wait.
Speaker 3: You know, it may be the best thing for you
Speaker 3: financially to just like let things simmer down. But yeah,
Speaker 3: I mean, tipt didn't you tell a story about someone
Speaker 3: who like missed out or couldn't buy afford a house.
Speaker 1: Well, it was around the corner from where I lived.
Speaker 1: There was a woman who she had locked in a
Speaker 1: rate at like three point whatever percent.
Speaker 2: You know, she was great.
Speaker 1: Her real estate agent dropped the ball and you know,
Speaker 1: you can only hold a rate typically for like thirty
Speaker 1: days and you can get an extension, and so they
Speaker 1: failed to file or whatever, do whatever so she can
Speaker 1: get her extension.
Speaker 2: So the house that she wanted to get, she couldn't
Speaker 2: afford it with the new interest rate. So it's not
Speaker 2: a house.
Speaker 1: And cost what you're gonna pay monthly on the house
Speaker 1: is the cost of the house, but also the cost
Speaker 1: to borrow money to purchase at house. So if you're
Speaker 1: buying a house cash woo woo, you don't got to
Speaker 1: worry about interest rates. But if you are financing, it's
Speaker 1: going to factor into what your monthly amount is. Actually
Speaker 1: had to have a come to Jesus talk with my
Speaker 1: brother in law this morning because you know, he's buying
Speaker 1: my late husband, Darrell, our second property. He's purchasing it,
Speaker 1: and then I'm going to take that money and set
Speaker 1: it aside for my bonus daughter, Alyssa, to add to
Speaker 1: her you know, her legacy or the legacy her father
Speaker 1: left her. But I told him, I'm like, bruh, don't
Speaker 1: drag yourfe eat, I said, because you might price yourself
Speaker 1: out from that house. Thankfully, he's going through a program
Speaker 1: called NAKA which helps to I think the interest rate
Speaker 1: that they're offering him a three point five percent, which
Speaker 1: is great, so they're locking that in for him. But
Speaker 1: I'm like, make sure that you are doing everything they
Speaker 1: ask because you know, I'm in Jersey, so housing prices
Speaker 1: are still increasing that as dramatically as before, but with
Speaker 1: interest rates increasing, I don't know what NACA is going
Speaker 1: to do. You know, they have their own program about
Speaker 1: keeping interest rates low. But I said, if these things
Speaker 1: creep up, you might not be able to afford the
Speaker 1: very same house you could afford six months ago. So
Speaker 1: I put a little fear good in him. But hopefully
Speaker 1: that puts a little fear of God in you too.
Speaker 1: So yeah, So with housing, I mean there's no way.
Speaker 1: I mean everyone's claiming like it's not gonna be as
Speaker 1: bad as the two thousand and eight crash, or there
Speaker 1: might be not a crash at all.
Speaker 2: I don't know that you should be holding your breath
Speaker 2: for crash or not crash.
Speaker 1: It's if you want to purchase a house, you know,
Speaker 1: take your time to do so smart and keep your
Speaker 1: debt to income ratio low with lower lower debt payments
Speaker 1: by paying off your debt, keep your credit score decent,
Speaker 1: you know, maintain income coming in. If you do those things,
Speaker 1: you know there are deals to be had in every market,
Speaker 1: and if you're patient, you can find them.
Speaker 3: Okayva Fan, We're going to take a quick break and
Speaker 3: be right back with more Recession day, taking more of
Speaker 3: your questions about are we in a recession? Is it's
Speaker 3: a recession? What's going on? See y'all back after the break.
Speaker 2: We got another question, She wrote, No, it's that he Man.
Speaker 2: I don't remember one of those.
Speaker 1: You know, he Man was the the whatever, the initial
Speaker 1: like character from Hannah Barbara. I think whatever, and then
Speaker 1: she wrote was like the girl's version. But I love
Speaker 1: me some she row so she ro barely.
Speaker 2: How do we prepare? Honestly?
Speaker 1: Who?
Speaker 2: Great question?
Speaker 1: So one of the things I tell people, and I've
Speaker 1: been saying this for a long time, you got to
Speaker 1: drop down and get your noodle on. Girl, drop down
Speaker 1: and get your noodle on.
Speaker 2: So what is that you have to know today?
Speaker 1: If you don't do nothing else today, calculate your noodle budget.
Speaker 1: That is your ramen noodle budget. Think about back in college.
Speaker 1: You know you'd eat them nasty ramen noodles. I'm not
Speaker 1: talking about the delicious ones from like the authentic Asian restaurant.
Speaker 1: I'm talking about the plastic ones from the twenty five
Speaker 1: cent pack. So you know, your noodle budget really is
Speaker 1: your If I had to eat ramen noodles, if I
Speaker 1: had to get rid of the excess and only take
Speaker 1: care of the necessities, you know, what would my budget be.
Speaker 1: So maybe your life costs you four thousand dollars a month.
Speaker 1: You know you get your hair done every once in
Speaker 1: a while, nails a little bit, go out with the girls.
Speaker 1: But if you were to cut out those luxuries and
Speaker 1: just got down to the necessities, by the health and
Speaker 1: safety things that you must have, what would your life
Speaker 1: cost you? You could save six hundred bucks a month
Speaker 1: and instead of four thousand, it cost you thirty four
Speaker 1: hundred dollars. You don't have to live at your noodle budget,
Speaker 1: but you need to know what it is in case
Speaker 1: you hit a financial roadblock, you lose your job, things
Speaker 1: get too expensive, like the things you need to get
Speaker 1: too expensive. You know what your noodle budget is and
Speaker 1: you can drop down to it because if you don't,
Speaker 1: so many people end up losing their job and they
Speaker 1: lose their house and their cable is still on. I
Speaker 1: am people that was me where I still had these
Speaker 1: like expenses that were draining me even though I had
Speaker 1: just lost my job. And so if I would have
Speaker 1: dropped down and got my noodle on, I would have
Speaker 1: had excess money to live a little longer at my
Speaker 1: current space, and then also excess money to possibly put
Speaker 1: out for saving. So first things first is like, you know,
Speaker 1: cut back expenses if you can save as much as
Speaker 1: you can, because that's what's going to see you through
Speaker 1: reduce your debt payments. You know, if you're able, definitely
Speaker 1: call your service providers if you're experiencing hardship. They so
Speaker 1: many of them, especially now with the pandemic, they have
Speaker 1: hardship departments that can help you.
Speaker 3: Talk us about like reducing your debt payments for a minute,
Speaker 3: because I was talking to one of my one of
Speaker 3: my Mandy money makers, and she was just saying, like
Speaker 3: I because of interest rates rising, like credit card debt
Speaker 3: is getting more expensive, right, So if you're carrying credit
Speaker 3: card debt, like, there's things you can do to consolidate.
Speaker 3: So in her example, she did a balance transfer. So
Speaker 3: if you've got lingering consumer debt, you know, I feel like,
Speaker 3: let's talk about some ways you can like actually tackle
Speaker 3: that to reduce your debt. So like balance transfer, you
Speaker 3: can do a debt consolidation loan. So if you go
Speaker 3: to like a credit union and get a personal loan
Speaker 3: and then you use that to pay off your credit
Speaker 3: card debt, but actually like make a plan for it
Speaker 3: because it's only going to get more expensive. And the
Speaker 3: beauty of those personal loans they come with a fixed interest, right. Yeah,
Speaker 3: So it does not change, unlike your credit card debt,
Speaker 3: which is like all over the place.
Speaker 2: Yeah, that's great, and you're right. I met she Ro
Speaker 2: not she wrote ba Yeah got me. I was like sheh,
Speaker 2: like I was where I saw she Row? Did I
Speaker 2: read that wrong too?
Speaker 1: Her name is she Row, but I called her she Rah,
Speaker 1: which it was the opposite of he man she ruh.
Speaker 2: Either way, you knew what I was talking about. Thanks poison.
Speaker 2: I yes, Ah. Let's see who's next. Let's see Callicia.
Speaker 2: Let's see Calicia.
Speaker 1: How do you think federal student loan repayment may be impacted?
Speaker 1: We're supposed to start repayment, but if we're in a recession,
Speaker 1: are people going to be able to pay?
Speaker 2: Yeah?
Speaker 3: I feel like this is like a more political question
Speaker 3: than anything else. I honestly think the listen and I mean,
Speaker 3: we're we welcome all political beliefs here. But it's not
Speaker 3: looking good for democrats. It's not looking good for progressives.
Speaker 3: Like inflation, it's it's killing people, you know, not killing,
Speaker 3: but it's really, you know, hurting people financially. And I
Speaker 3: think I read a stat that's something like even though
Speaker 3: we're you know, the official official recession bell has not
Speaker 3: been rung yet still like more than half of Americans
Speaker 3: think feeling like we're are in a recession, right, that's
Speaker 3: bad for Democrats, And I feel like for popularity's sake,
Speaker 3: going into the fact that we have midterm elections in November.
Speaker 3: Midterm elections are really really important, you guys. You know,
Speaker 3: this is when senators representatives in Congress are getting elected,
Speaker 3: going up for re elections, So please vote. But I
Speaker 3: think maybe to maintain popularity, I wonder if they wouldn't
Speaker 3: just continue, like extend it again, because they said they
Speaker 3: were going to end it almost every quarter. I feel
Speaker 3: like for the past couple of like the past year,
Speaker 3: and I think because of how unpopular you know, Democrats
Speaker 3: are right now, they may try to like win us over,
Speaker 3: which is not a bad thing. But you know, time
Speaker 3: will tell.
Speaker 2: What do you think to no, I agree, I think
Speaker 2: that there's no way to know, Like you know, they
Speaker 2: might pitch.
Speaker 1: We don't get to decide, you know, we have to
Speaker 1: just wait, honestly for the what the president and his
Speaker 1: administration are going to do.
Speaker 2: Now, will if it does come back, will people be
Speaker 2: able to afford it?
Speaker 1: It really depends on that individual person, you know, the
Speaker 1: good thing about federal student loans, though, if you are
Speaker 1: in hardship, you can still apply for some sort of
Speaker 1: hardship assistance for bear deferment or for bearans, so you
Speaker 1: can that that's not gonna be taken off the table.
Speaker 1: So if you're like I can't afford it, as long
Speaker 1: as you have not maxed out how many deferments or
Speaker 1: how many forbearance, I'm asked, if you've taken up, then
Speaker 1: you can still do that if you still need to help.
Speaker 1: Because I was the deferment queen. Okay, Like I was
Speaker 1: like girl defer deffer so until I got on my feet,
Speaker 1: So that is also an option. Can I just say, like,
Speaker 1: despite it being like scury time, if you have like
Speaker 1: if you have been you know you have a stable job.
Speaker 2: I mean no job honestly is one hundred percent right,
Speaker 2: And so if you.
Speaker 1: Are like, Okay, I'm pretty solid in my job. I've
Speaker 1: got good savings, you know, I'm my dad is pretty
Speaker 1: I'm living below my knee means, and I've got you know,
Speaker 1: I'm ready kind of to like invest, you know, now is.
Speaker 2: A good time.
Speaker 1: Like so the thing about a recession, I have just
Speaker 1: like wrote notes on it, and I was like, I
Speaker 1: wanted to say exactly roid, which is.
Speaker 3: What.
Speaker 1: So what happens during a recession is that good assets
Speaker 1: go on sale. So assets can be at homes, could
Speaker 1: be businesses, could be the market, so bond stocks, good
Speaker 1: assets go on sale during recession. So if you are
Speaker 1: financially stable and you've accumulated a decent amount of savings,
Speaker 1: you can go shopping for things that are only down
Speaker 1: because the economy is not down, not because something happened
Speaker 1: to that company.
Speaker 2: And so that is an opportunity.
Speaker 1: That's why recessions honestly generate more millionaires than any other
Speaker 1: time in economic history, because people who start off with
Speaker 1: you know, a few hundred thousand or or a few
Speaker 1: things or one hundred thousand or whatever. You know, people
Speaker 1: who start off with that and invest when in good
Speaker 1: assets that just are currently on sale. When the sale
Speaker 1: is over, their asset just goes up through no work
Speaker 1: on their part, and all of a sudden, they owe
Speaker 1: you know, they own twice as much, three times as much,
Speaker 1: four times as much as a result of investing when
Speaker 1: something was down, just because the economy was down.
Speaker 2: So just keep that in mind too. That is not
Speaker 2: all doom and gloom.
Speaker 3: Yeah, all the more reason if you already are contributing
Speaker 3: to your four one K or your IRA, just keep
Speaker 3: those automatic payments going, Just keep it going, don't do anything.
Speaker 3: Should we take another question from the crowd, How about
Speaker 3: what's next?
Speaker 2: Abigail?
Speaker 3: Abigail's question? Would it be wise to ask our boss
Speaker 3: what they are planning to do to get us by
Speaker 3: in the recession? I love this question.
Speaker 2: I'm getting this a lot.
Speaker 1: I don't know.
Speaker 3: I would not be at all afraid to ask that question.
Speaker 3: I think it's an obvious one. I would start with
Speaker 3: your boss. Just be prepared if your boss is like
Speaker 3: because I'm a manager and I you know, my my,
Speaker 3: you know, arching orders come from the top. But I
Speaker 3: think that you can absolutely ask, you know, do you
Speaker 3: foresee this impacting our team? And is there a plan
Speaker 3: in place? And it's a really good time to get
Speaker 3: a sense from your company.
Speaker 2: Do they have some shit together?
Speaker 3: And is there a strategy? You know, are we well prepared?
Speaker 3: I had the benefit of working for like startups and
Speaker 3: then big companies that had been around for decades. And
Speaker 3: what I found at you know, places that I've been
Speaker 3: around for decades, They've endured a couple of recessions at
Speaker 3: this point, the same way Tiff and I have were
Speaker 3: like old crotch d like third recession. So I feel
Speaker 3: like companies that have been standing their ground for a
Speaker 3: long time, they've already gone through things like this, you know,
Speaker 3: and they've proven resilient because they're still standing. So you
Speaker 3: can even look to the past, how has the company
Speaker 3: in the past responded to recessions and economic downturns? And
Speaker 3: if you're interviewing right now, I know we're talking about
Speaker 3: someone who's working, but if you're interviewing and you're thinking
Speaker 3: about joining a new company, ask yourself like or even
Speaker 3: ask the recruiter or the hiring manager, how have you
Speaker 3: guys responded to economic downturns in the past, and what's
Speaker 3: that response looked like. I think it's definitely a fair
Speaker 3: question to ask, for sure.
Speaker 2: Yeah, because honestly, what we talk about.
Speaker 1: So for my companies, during like the twenty twenty like
Speaker 1: Minivum session, when the pandemic hit, I remember being like, okay,
Speaker 1: because before I'm a pretty decent saver, but I said,
Speaker 1: you know, if during the pandemic we're able to maintain
Speaker 1: we had a really good year because quite honestly, financial
Speaker 1: brands tend to do really well during economic downturn because
Speaker 1: you'll be like, hey, So I said, okay, we're seeing
Speaker 1: an uptick on like most industries. But I knew good
Speaker 1: things don't.
Speaker 2: Last all ways.
Speaker 1: So what I did was, I said, okay, we're going
Speaker 1: to push from having I think at the time, we
Speaker 1: had two months worth of emergency savings, so like our
Speaker 1: total operating expenses including payroll saved, and we pushed and
Speaker 1: I pushed and I pushed to get to six months.
Speaker 1: So all of my companies have six months worth of
Speaker 1: operating expenses including payroll saved UMP, so just in case
Speaker 1: I don't make it home to you know what I mean.
Speaker 1: So that helps a lot with any instability that might
Speaker 1: come up. I saw that Microsoft this is doing I
Speaker 1: don't know what they're doing now, but this is during
Speaker 1: the pandemic. They had one year worth of operating expenses,
Speaker 1: and I said, if it's good for the goose, gosh darn,
Speaker 1: it's good for the gander. And so that's what that's
Speaker 1: what made me say, like, I don't know if I'm
Speaker 1: going to do a whole year, but six months was good.
Speaker 1: So it allows us to in the back of my head,
Speaker 1: I think to myself, well, we have six months or
Speaker 1: more to get to figure out and pivot just in
Speaker 1: case something really detrimental happens.
Speaker 3: All right, let's take a next question from Cynthia. Cynthia says,
Speaker 3: I am in real estate law. If interest rates continue
Speaker 3: to climb, I'm concerned that this will impact my job.
Speaker 3: Do you think foreclosures will rise like they did in
Speaker 3: two thousand and eight?
Speaker 2: Very good question.
Speaker 1: Well, could I just say that the repullman has been
Speaker 1: coming for y'all cars, you know, the car cars. What
Speaker 1: it's there is there's been a huge uptick Mandy in
Speaker 1: car repossessions, which is a one of the key indicators
Speaker 1: for a recession.
Speaker 2: Huge uptick on car repossessions.
Speaker 1: So of course cars are not the same as homes,
Speaker 1: you know, because obviously, like you know, you don't have
Speaker 1: a car and you can't get around, but you don't
Speaker 1: have a home and where you live. But I would
Speaker 1: just say that, like, I don't know if what that
Speaker 1: means for foreclosures, but I do know when people have
Speaker 1: hard financial times, they can't for their financial obligations and
Speaker 1: they're not they're not quick to say I'm not.
Speaker 2: Paying for my home.
Speaker 1: So what you usually see is this if you remember
Speaker 1: during the two thousand and like nine ten eight recession,
Speaker 1: right that the home market, the home we didn't see
Speaker 1: the crash until years later.
Speaker 2: It's a delayed response because it takes people a while.
Speaker 1: They're like, well, I'm not gonna pay my cable bill,
Speaker 1: I'm not gonna pay my cell phone. Oh, I'm not
Speaker 1: gonna pay my car. I'm not gonna So it's usually
Speaker 1: what you see is a ripple, and the homes come later.
Speaker 1: So if it's going to happen where we see this
Speaker 1: increase in like foreclosures, you know, I don't think it's
Speaker 1: going to be like this instant. You know that instead
Speaker 1: that it will be a ripple of all of these
Speaker 1: other economic downturns because people unemployment is down, so people
Speaker 1: still have jobs in order to pay for homes. So
Speaker 1: I just say all that to say that I don't
Speaker 1: know that I would switch markets, you know, because at
Speaker 1: the end of the day, people are needed in every
Speaker 1: single sector in an industry that we have now, they
Speaker 1: just it just means that it might look different. So
Speaker 1: I would just keep my eyes and ears open of
Speaker 1: like what a pivot and if you're interested in this
Speaker 1: industry still, what a pivot might look like.
Speaker 2: In case that does happen.
Speaker 3: Can we also talk about you know, it's very thinks.
Speaker 3: A lot of things are very different than they were
Speaker 3: in two thousand and eight. There were a lot of
Speaker 3: bad mortgages being sold to families. But prior to the
Speaker 3: two thousand and eight housing crash, and that's why we
Speaker 3: saw so much foreclosure because you know, people were getting
Speaker 3: homes that they just could not afford financially, and they
Speaker 3: were getting huge mortgages and taking on lots of yeah,
Speaker 3: lots of dice the financial situations because they were so
Speaker 3: close to the edge. And so when we did see
Speaker 3: that decline in the economy and jobs were lost in
Speaker 3: all of that, like really quickly, tons of people were
Speaker 3: just way too over mortgaged and that's why you saw
Speaker 3: so many foreclosures and short sales and things like that.
Speaker 3: I feel like this time around, debt or sorry not debt,
Speaker 3: but underwriting for mortgages is stricter now because of policies
Speaker 3: that were put in place after the recession. You've got
Speaker 3: institutions like the Consumer Financial Protection Bureau, which are you know,
Speaker 3: watchdogs for lenders and making sure that they're abiding by
Speaker 3: those policies. Also, I think we're savvyer as consumers. I mean,
Speaker 3: i'd like to think you listening to Brian ambition, Like,
Speaker 3: you know, hopefully we are more financially prepared. And because
Speaker 3: of the pandemic and those stimulus checks. If you've been
Speaker 3: like you know, stacking your coins and saving and investing,
Speaker 3: you're more resilient if that were to happen. Maybe you're
Speaker 3: not as quickly to like lose your house. So it's
Speaker 3: not exactly the same as two thousand and eight, I
Speaker 3: will say that. And so also like there's programs in place,
Speaker 3: so if you're struggling to buy your home, like contact
Speaker 3: your lender, you know, see what kind of hardship you know,
Speaker 3: programs they may have, and just ask for help, you know,
Speaker 3: before you get to that point. That's what I'll add there.
Speaker 1: Yes, next question on the docket, lou Louly Louli MoU
Speaker 1: I'm literally said, should I wait to get a home
Speaker 1: improvement loan?
Speaker 2: Not a he lock?
Speaker 1: Okay, so a he lock just so you guys know,
Speaker 1: it's a home equity line of credit that basically means
Speaker 1: you borrow against the house the house is almost like
Speaker 1: a credit card and you tap into it because banks
Speaker 1: are like worst case scenario, don't pay me back, I
Speaker 1: take your houses and then I use it the paybyback.
Speaker 1: So that's my home equity line of credit. So she's asking,
Speaker 1: you know, should she take out just you know, not
Speaker 1: a home equity line of credit, which most people tell
Speaker 1: you don't do it. Should she just take out an
Speaker 1: improvement loan, which you can do to, which is different
Speaker 1: personal personal?
Speaker 2: So my my only conception, Well, here's the thing.
Speaker 1: We've been spoiled with that super low interest rate that
Speaker 1: we had, and I know it's like, oh my god, like,
Speaker 1: oh my gosh, I'm gonna wait till the interest rate
Speaker 1: gets back down to two or three percent. Is probably
Speaker 1: not likely because that was a historic Wait what that
Speaker 1: was the gap selling Jeanes for fifty cents? That's just
Speaker 1: not you know that Like when my parents brought their
Speaker 1: house in the eighties, it was like interest rates were
Speaker 1: double digits. It was not uncommon to have ten twelve,
Speaker 1: So even five percent, that's like kind of like average,
Speaker 1: like you know, that's where So you know, I would
Speaker 1: say that if you were going to take out a
Speaker 1: you know, a personal loan and the house is going
Speaker 1: to be kind of like the backing for that. Typically
Speaker 1: personal loans where you have a a tangible asset as
Speaker 1: the backing that, the interest rate is typically better because
Speaker 1: companies feel like the bank feels like, worst case scenario,
Speaker 1: we could take your house if you don't have our
Speaker 1: money versus just like swiping a card to just having
Speaker 1: credit where there's like nothing backing it. They just have
Speaker 1: to like yell at you and try to get their money.
Speaker 1: That you should get a decent interest rate. I would
Speaker 1: look at your credit score and ask myself, okay, you know,
Speaker 1: is my credit score enough to get me the very
Speaker 1: best interest rate out there. I would also look to
Speaker 1: see like are you solid in other areas if you
Speaker 1: have other debt you're trying to pay down. I don't
Speaker 1: suggest people getting into more debt right before or during
Speaker 1: the pending recession unless they're super super solid in other
Speaker 1: areas and this is like, you know, this wouldn't be
Speaker 1: a hard burden to take on. You know, now is
Speaker 1: not the time to buy new stuff if we are
Speaker 1: entering into a recession. Like I said, technically, you know
Speaker 1: it's looking like a recession. But although they're not claiming
Speaker 1: it to be thus. So so I would just say,
Speaker 1: be mindful of your holistic financial overlook view and whether
Speaker 1: or not you should move forward, and if not, you
Speaker 1: might want to wait it out.
Speaker 3: Yeah, and shop and compare, Like, get some estimates. See
Speaker 3: if if you can get, you know, an estimate of
Speaker 3: what you're alone a home improvement loan, like a personal
Speaker 3: loan rate may be, and compare that to what an
Speaker 3: estimate of a rate may be for a heelock. If
Speaker 3: you work with a lender or a bank, then maybe
Speaker 3: you can compare. Maybe it's like I'll just choose the
Speaker 3: option that has the lower rate, but definitely, like keep
Speaker 3: in mind if you can't pay that back, your home
Speaker 3: is on the line. So I agree with Tiff.
Speaker 1: First of all, I love that some of you guys
Speaker 1: are sneaking watching at work. Like, well, let me not
Speaker 1: say love it because I got employees, but you know,
Speaker 1: I wouldn't be mad at them, Honestly, I would.
Speaker 2: Say, if you get to work done, star're.
Speaker 3: Talking about it at work anyway, might as well.
Speaker 1: Do it how you do it, you know, like oh,
Speaker 1: the Robinson Crue, what you had to say, Robin san Cruz,
Speaker 1: Robert Zuku, said, Oh, I love you ladies.
Speaker 2: You have changed my life in so many good ways.
Speaker 3: Yah, we ave a listener. We have a listener. Yuri
Speaker 3: from Australia who says, it's two twenty five am here,
Speaker 3: but I had to catch your live. I'm a diehard fan.
Speaker 2: Oh yeah, we love you too, we do, we do, mate, Cracky,
Speaker 2: I don't know. Oh my gosh. So we're going to
Speaker 2: wrap up. You have any closing thoughts? Yes, I am
Speaker 2: the career queen.
Speaker 3: I think that the career is the root of all
Speaker 3: of our you know, our wealth building and all of that.
Speaker 3: So for me, it's all about professional resilience. You know,
Speaker 3: whether you are worried about the job that you have
Speaker 3: now or thinking about the job that you want in
Speaker 3: the future and what this could mean for you, just
Speaker 3: bring it back to what you can actually control, and
Speaker 3: how are you building professional resilience so that you can
Speaker 3: weather any storm, not maybe not this recession, but the
Speaker 3: next one, because they're sure always going to be another one.
Speaker 3: So are you expanding your professional brand? Are you letting
Speaker 3: people know about all the excellent work that you're doing.
Speaker 3: Are you looking for opportunities for professional development, to invest
Speaker 3: in new skills? That are in demand for your field,
Speaker 3: are you, Like Tiffany always says, illustrating your oprah, so
Speaker 3: that people you're not someone's best kept secret, that they're actually,
Speaker 3: you know, aware of all the excellent work that you're doing.
Speaker 3: I have, I've got lots and lots of resources on
Speaker 3: this and how do it, you know, build professional resilience.
Speaker 3: You can check me out follow me at Mandy Money
Speaker 3: for all career advice. But that's my key takeaway is
Speaker 3: professional resilience. It will make you feel much more in
Speaker 3: control during times like that's when a lot of stuff
Speaker 3: is really out of our control at the end of
Speaker 3: the day.
Speaker 1: And my final words are just like kind of like,
Speaker 1: you know, just really think about hunkering down, you know,
Speaker 1: not getting into brand new debt right now unless it's
Speaker 1: absolutely necessary. Really trying to book up on that saving
Speaker 1: so you can have a little cushion just in case,
Speaker 1: but also booke upon savings so you can lean into
Speaker 1: invest in get the girl, get you them jeans on sale,
Speaker 1: you know, get these assets on sale, and honestly, remember
Speaker 1: people first, right, so checking on your people. I know
Speaker 1: this is not super moneyish advice, but like you know,
Speaker 1: sometimes people are struggling and they're not saying and so
Speaker 1: you know you're not alone in this. Checking on your people,
Speaker 1: have regular conversations. You want to make sure that if
Speaker 1: we do hit really bad economic times that you know
Speaker 1: people know they can you know, you're the people that
Speaker 1: you love and care about know that you are checking
Speaker 1: in on them. They can lean on you, you can
Speaker 1: offer support, they can offer you support. And continue to
Speaker 1: listen to Brown Ambition. Ooh, you know what, since we're
Speaker 1: doing and sidebar. Hello, this is like literally the recession
Speaker 1: book right here, Get Good with Money. Okay, if you're
Speaker 1: if you're listening and you're a listener instead of watcher,
Speaker 1: I'm holding up the book. Okay, no, but for real,
Speaker 1: I wrote it for times like this. It is to
Speaker 1: build times like this, you need a strong financial foundation.
Speaker 1: And that is what Get Good with Money is all about.
Speaker 1: That is what financial wholeness, that's the ten steps that
Speaker 1: I wrote about in the book is all about.
Speaker 2: You can get you a copy at get Good with
Speaker 2: Money dot com. And we love y'all.
Speaker 1: We love seeing y'all ey or hearing from y'all every Wednesday,
Speaker 1: every Friday. Just continue to listen and tell your friends
Speaker 1: about us. Because this is cute over here.
Speaker 2: Thank you, ba fan.
Speaker 1: We love y'all.
Speaker 3: We did Worthies. That was fun.
Speaker 2: That was fun.
Speaker 3: Hey ba Faan. We could not do this show without
Speaker 3: your support or the support of our team behind the scenes.
Speaker 3: The Brown Ambission podcast is produced by Cumulus Podcast Network.
Speaker 3: It's edited by the wonderful Imani Crosby and produced by
Speaker 3: Tanya Bustos. Dennis Stimplinsky is our in house tech curu,
Speaker 3: and I am Bandy Woodard Santos your co host, and
Speaker 3: I will see y'all next week.