It's time for the b a qa a to b a q a with tifferinid to b a q a. No man day to b a qa a. It's barnabachan question answers. Manay's not here because she is at a conference slash retreat just living her best life. I was just talking with her earlier today, so she's here in spirit or whatever. So this is Barna Beach in question answers.
You have questions, we have some answers. But the thing is we're not your mama, not your father, not your sister, but your friend, not your financial advisor, not your attorney, not your account At the end of the black day, we know none of those things, which means that you are going to take the final say from the people
that you pay. Okay, oh that was a bar no for relse who your grandma, not us, because this is just the smallest grain of salt that you're gonna take this entertainment from, because we are not giving you financial advice for just just entertaining you, but certain something to think about, you know, when it comes to whatever your financial woes are. But if you have questions that you'd like to be considered, go ahead on over to briannibisionpodcast
dot com. Click contact us Brandivision Podcasts at gmail dot com or Brannabision podcast on ig and sliding our DMS. We have a Moulah baby question from you from I'm gonna call her yoah because I think you gave you a real name. Girl. What should I call you? I'm gonna call you m chi Chi. That's my sister's nickname. Che che hey che j She says. First off, I love you ladies so much. I'm one of them, brown all Filipinos all, so I'm included in the stud too,
right you are? We love a Filipina, Okay, she said Brian Filippinas, So I love that. Yes, love a load joking you are, girl. I'd be honored if you ladies answered my question. Okay, chich. I have about two hundred thousand dollars in student loan debt along with about twelve thousand dollars credit card debt. I'm also a mom of a two year old and still live with my parents in expensive Beep Bay area, San Jose, California, John, because the Bay is expensive. California is expensive. My husband and
I want to get our own place. Out here because our jobs are here. I'm a physician's assistant currently making one hundred and seventy five thousand dollars, and my husband makes eighty thousand. But we still feel like we can't afford any single family homes out here, because girl, you can't. It's the bay. My question is, should I try to pay off all my dat while saving for a house and purchase later, or just try and get a house sooner and pay off my student loan till I'm like
fifty girl? She wrote that, girl, I think that's maybe a loaded question with multiple different answers, but I'd love to hear your thoughts. Thanks in advance. Oh chee chee, hold that thought and we'll be right back. First of all, can we just acknowledge how terrible is it that somebody can make one hundred and seventy five thousand dollars with a partner that makes eighty thousand doll Let's do the math. How much is that? How much of that? How much?
How much is how much of that? Let's see calculata see y leata calculator. After a while, Cracker Dog come on camera. Y'all told me to get this iPhone I'm still not impressed. Almost say yea later, I still miss my android. Okay, let's see one seventy five plus eighty thousand is two hundred and fifty five thousand dollars. Is what you guys make? You're living at home and you can't afford home because how much do you have to make?
How much I'm about to look up do you have to make to afford a home in the Bay Area. We're gonna see. Let's see what they say. Okay, way where whoa? Okay? The income required to afford a home in the Bay Area depends on city or county and the cost of housing, but in general, in San Francisco, this is as of March twenty twenty four, an income of three hundred and thirty nine thousand dollars eight hundred and sixty four was needed to comfortably afford a mortgage
in San Francisco. Child, that's crazy. Oh yeah, that's crazy. Now California, in general, it said to qualify for a mortgage in mid tier California, you would had to make about two hundred and thirty five thousand dollars, you know, which is double more than double the medium household for I guess in the United States, that's crazy. So if you're in San Francisco the Bay Area, which I mean in San Francisco Bay Area, because y'all don't give me the line, you know, for y'all all over there, you'd
be like, that's not why that is San Jose. Let me see. Let's see what said what they say in in San Jose. Let's see see San JOSEI Sa Jossey, you say, let's see what they talking about? No way, okay, let me see. Jesus it's worse for you. Well, brace yourself. As of March twenty twenty four, a household in San Jose, California, needs to earn at least Hey, Filipino, sweetheart, listen four hundred fifty four thousand, two hundred and ninety six dollars
to afford a mortgage on a home. That's freaking crazy, because the average home value in San Jose is one point four seven two basic one point five million dollars. Hey, you have to make half a million freaking dollars. So for those of you, because I only I'm only sharing this, chichi, because I know some people are like, girl, you live at home. Girl, you and your husband make two fifth. That's a lot of money. Yes, Minnesota, it is a lot of money, but in San Jose it's not enough.
It's not enough. She would need to make double that to buy a house. So you're gonna have to ask yourself. Would I be saving until I'm totally paid off? Probably not, because girl, you'll never be able to get a house, because not even about paying off your debt. Honestly, like you would have to make so much and by then you're gonna have to make even more because you have to make them near half a million dollars stuff for
the home. So what I would be looking at is that, I mean the Bay Area to me, that San Jose child, it's been out of the question. Are there any other places further out? You know, like do you have to live in California? I mean, I know you your parents live there, which is always really great, especially with a two year old child, so I knew, you know, if
your parents are probably helping out significantly. So I'm not saying moving anytime soon, but I might be looking to say, Okay, in the next five years, the baby will be seven. What what is it that we're wanting in the At the end of the day. It's home ownership that critical to us, like what is it that we're wanting? And I would make a financial this decision based upon that, like, Okay, we're gonna stay here for the next five years. By
then the baby will be seven. I think. Seven is like second grade, I think, and we can move to set other state or whatever, because I've already done my research that in this state I can still make good money and it goes further here and whatever your husband does can do the same, and I can. You know, we would be able to be and be in the rains to be able to afford a house, so you would have to maybe make some drastic changes, you know, or make significantly more money. It's not just a student
loan debt. And also too, I would be keeping my eye on like this current election that's cut well, depending when you listen to this, but I would be looking into the Public Service Loan Forgiveness Program PSLF. I would be looking at the Income Driven Repayment Program, the IDR IDR plan if they're still even here, depending on what's
happened with this that election. I'd be looking at student loan debt relief to see like what can I do to qualify for student loan debt relief to maybe get some of that two hundred thousand dollars down or out, you know, you know, definitely work hard and get rid of that credit card debt and try not to get into any more. But I'd be looking for help with that student loan debt child. I would not be doing that by myself. This is a heavy load, child. We
all care in this burden. But that's what I would really do. I would not wait for fifty to buy a house. I would ask myself if it's that important for me for me to raise my kid in a house, which you know, so a big goal for a lot of people. It might mean moving and for now a two year old child. I would be home with my parents so they can help. But I would make a five year plan to ask myself, what does that look like? You know, where is there any place else we can move?
Do I have a sibling that lives someplace else and maybe it's more cost effective. So I wouldn't be making any moves anytime soon, but I'd be making a plan with my husband to say, how do we want our life to look and how do we arrange our finances to get there. How much money do we need to make if we move to that place, Maybe we would make we would make less, but the cost of living
is less. I would start to make those plans while also be looking at these student loans that forgiveness and see what's available, and really attacking that credit card debt and trying not to get back into credit card debt. But in the meantime, in between times, child, parents, watch that two year old while you grind. But yeah, I'm not gonna I'm not waiting for fifty I don't know. If you're forty eight, that's one thing. But if you're forty no, that's ten years. No. I don't think you
have to wait that long. You just might have to make a big, big, big addressment. Child, Can you imagine? This is the world we live in all and these are the hands we eve? And oh remember that it was a weird I think it was Phil Collins. Let me see what's that, Phil Collins? The world we live in? I want you guys to look it up. It's weird. It's like a puppet. I mean, I remember being freaked out by as a kid, the world we live in, the world we live and was it Phil Collins? Phil Collins,
I think so, Oh, the Land of Confusion. Yes, no, it's by Genesis. It's Genesis. I'm wondering. Was Phil Collins part of Genesis? Child? It was a weird video. Yeah, so I guess Genesis was a group that Phil Collins was a part was a member of. And it's it's called Land of Confusion and it was like puppets, but the puppets were I wouldn't say realistic. They're scared child. Go ahead to the YouTube's and the song is a bop. But the video child, this is back when I was
a kid. So Ronald Reagan was president when I was a kid. I don't know, it was probably the eighties, so I was like really young. But I remember this video coming out on MTV and being like, what the entire heck is this? But yeah, it was like and this is the world we live it oh, and these are the hands we live and uh, we're giving a I don't know child. Anyway. The reason why I'm singing is that just look at this. There's too many men, too many people, making too many problems and not much
and not so much love going around. Can't you see this is the land of confusion. Child, if this ain't a bot from now, but I would say all that that we're in the world is Carmen San Diego. And where in the world can you and your partner make two hundred and fifty five thousand dollars And it's not enough to move out of your mama's house. Damn Filipino, chee, chee. Ain't that crazy? I try not to get disheartened, but it's like, what the entire hell that doesn't make sense.
Two hundred and fifty thousand dollars is a lot of money, yo, a lot of money, and it should be able to get you whatever you're wanting at the bare bones, basically a house, and the fact that it doesn't is really disheartening. I don't know, you know, I don't have the magic wand but if I did, child, you know, if I did, you know, like that's more than enough. The average person doesn't even make half that. I wish you well make your plan, give yourself a five year plan. You might
have to move to someplace less expensive. In the meantime, let your parents watch that baby and make your financial plan about where you want to live. We can actually buy something because to be required to like make half a million dollars to buy a house. It's crazy talk. Okay, crazy talk again. If you have questions, we have answers that are entertainment based only. Go ahead on the slide and our dms on Briandavision podcasts on ig briandivisionpodcast dot com.
Contact us on our website or Brandavision Podcasts at gmail dot com. Send us an email if you're old school missus Jackson, if you're nasty, and please share this episode because the only way people who know is if you tell them and leave us a review. You know manby be reading the reviews. I don't, but if you leave us a review, especially on Apple podcasts, we will read them out loud aka wee as a mandy because when you leave reviews at less, the algorithm know a the
girls is feeling it on whatever. Let's show us other people you know, and as you know, we're here every Monday with a throwback episode, every Wednesday with our regular episode, and every Friday with ba Qa. So if you want us to stay here, you know, eight years later, I think we're eight years of the game, nine years of the game, then we need your house, spreading the good gospel of Brown ambition. Until next week, stay brown, stay ambitious, and stay safe. Bye.