Hey, hey, hey child.
Anyway, either way, I'm super happy broadcasting live from the new house.
This is Tiffany.
Oh happy happy, happy new home.
I know right, I mean, she's and Rice? Is that even how people say it? I love?
That's what I love saying she's and Rice.
I wun't say it often enough, But no, it feels so good, Like I was saying earlier, You've been like, it feels like why I don't even miss that old place.
I'm like, what old thing? I feel like, you know, breaking up with like a.
Bad boyfriend and I'm like, I totally move on with this new guy. And then you guy's amazing.
You're out the halfway hood exactly. Isn't that crazy? I don't live in that halfway good anymore?
But I am sad for the children that you always talk about. Superman provides pizza for and juice boxes. What are they gonna do?
I know?
But honestly, like whe where he works is right next to it. So I was like, I have to go visit my babe.
Minnie.
She's like the a perpetual four year old. I'm like, Minnie, are you four?
She's like I'm seven. I'm like, Minnie, do you grow. She's like no, and so yeah, I do. I am going to miss them.
Actually, I think I am gonna, like, you know, go by and visit because that that is the the you know, the one sad things that I miss, like all the all the little babies around there.
And and it's cute because my my sister.
When she drops off her my niece and my nephew to just like meet a babysit, they love coming.
They call it. My nagery name is otto, so they call it Auntie Eddo's house.
They're like, I you know, they know that there's like a playground in the back and the kids always have a sprinkler going on. So last time she brought them here, they were like, where is this place? This is not this is not Auntie Eddol's playground. So they were highly disappointed at my new house.
Kids are so suspicious of new locations.
They were like, this is cute or whatever. Where are the kids?
Yeah, we're hosting a barbecue for the fourth of July. And the first thing I've I've learned since all my friends have had kids is that keep the kids entertained. Like before I bought food or anything else, I was like we need a kidie pool. We need some water guns, uh, the kind that parents don't have to run and refill every five seconds because that drives them crazy. I've seen that happen. No fucking bubbles. Excuse me, sorry, that's how I feel about bubbles.
I have seen.
Yes, it's like, no, there's never a kid not crying at the end when you bring out bubbles, because you know, we have smaller kids on the we're on the smaller side and my friend group and like they want they know, they want to hold it themselves, but they're going to tip it over. The bubbles are going to be over within two minutes. Yeah, and then they're going to be screaming.
Because they're like I can't unless you get which I did get from my my nephew wants.
It was like a bubble I got offrom like Amazon.
It's literally like the bubble thing like rotates like a windmill and then there's like a little fan behind it. It's like you know, like six bucks or something. Yeah, and it blows bubbles for you.
So there's there's that.
Those are clutch, but they only distract for so long.
You know. I put them up high and I let them go crazy. I don't know what it is about kids and dogs.
They love bubbles, they do, but I decided no bubble wars at my party, just water wars and some like little yeah kiddy things. So I'm excited for that. We had like a we had like what do you call it, a stress test this past weekend where Enrique, my husband's mom, was supposed to come with a couple of aunties and I should have known better. A couple of aunties turned into like fifteen sixteen, seventeen eighteen, a couple of hounds entire, yes, the entire inwood in the Bronx came to my backyard.
I was just like, oh, who else is coming? Okay, cool, that's great, glad we have enough hamburgers and hot dogs. But yeah, it's that's it's summertime. When you got a house, what are you going to do?
I know that was cool because it was I think it was like the next day after we moved in, it was like my sister came with the kids and I was like okay, and then like my.
Doorball rings, it was like my frand Carol.
I was like, oh hey, okay, and then like an hour after that, Drina came by.
I was like hey, and then Drina bought her baby. Well he's four, but still his baby, and.
Then Drina's husband came and then our neighbor. It was like literally from ten am to ten pm because I was like, Oh, I have all these plans this Saturday, I'm going to do all the unpacking.
I did nothing.
I ended up getting pizza and like I was like, oh my gosh, Like but it was so nice because we had not had that many people over and like, you know, because our apartment was so little, so it really couldn't bear like all of those people, you know, But so it was just nice. I mean it feels like home already, well homish because like we still have to get basically everything. We put together our bed that night,
which was like I actually really love this bed. But when you're tired from moving, you're like to get the Allen key so you can put up a headboard.
You're like, oh, just shoot me.
But I'll never forget the p because when you put together a whole house, like did you guys get brand new everything? Like just the value yep, the boxes, Tiffany, Yeah, the like we our whole backyard was like covered in boxes and packaging, and I felt like we had to hire a dump like a special junk company to come take away our crap because just like the number of packages, like it was crazy. My hands, like your hands don't
feel the same for like a week. From all that, it's just untaping and like screwing gas.
Yeah, and then just using new things. And I was like, okay, I've never used this up in before.
So you know, you don't realize how used to you you are to your stuff. So I'm like using the dishwasher, like what am I doing wrong? And I'm like, oh, I'm like where's the manual? Then I'm like, you know what, where's the YouTube video? Because these days, who wants to read a manual? So thank god for YouTube. That's like a little pro tip that like if you're using your appliances and stuff for the first time and you're like, like you don't understand.
I was.
I was like on the phone with like like on on hold, waiting for Best Buy so I could bust and be like my hood is not working. And I meanwhile, then as I was like waiting, I watched the YouTube video. I was like, you pressed the wrong button. I was like, let me hang out.
Yeah, I'm boss. Bless the people who take their time to walk you through how to use the knobs on all the appliances. I don't know who they are or how they make money, but bless them.
Why not all heroes were capes? Well? What else is going on in the world? And pains?
Oh?
You know, that's all I got. I'll get to my brow. You can just hear that the tone of my voice. I'm gonna have a brown break for later. But no, things are good. I think summertime is hitting generally the workforce. I work with a lot of We have a staff, but we also rely on contractors and freelancers a lot. And every summer they start to slip and the work gets a little bit worse and they stop. This isn't my break, but I'm just you know, I have multiple
breaks today. Yeah, So that's what I've been dealing with, is like the free and it's not just at work either, freelancers And I understand because your freelancer, your time is your own. You know, we're not your boss ultimately, so you can start to slip if you want. It's a bad way to keep clients, I would say, but it happens like clockwork every summer, every Christmas holiday time. But I've noticed, like with our dog walkers. I've been using
the dog walking app Wag. I've talked about it before, and I cannot keep a dog walker, like they just canceled all the time. Today I had to run home because the one dog walker just didn't show up at all. And usually they're quick about finding a replacement, like a sub but then that one didn't show up. And then my poor dog and I was in meetings back to back and it wasn't until four o'clock when I was like, I haven't gotten my Wag alert, where is Mollie? And
poor baby was in her room all day? And I felt so guilty. And I know, like my friends who leave their dogs at home all day are like, what stop beating yourself up? Like we leave our dogs at home for twelve hours. But I just I just feel so bad. You know, I really want to give her the life she deserves.
So it is it like so when you lead them home right so they know, like Molly knows not to go in the house.
So she's just holding it. That is that the issue?
Well, today, of course she pete because she was alone for way too long, and she's so used. She's almost like a toddler. You know, she's on a schedule. I p a two outside, but there was no two pm dog walker today. I don't know how long she held it. I haven't watched the tapes back, but she I know she held it all day and at least she didn't go number two.
It's fine. I just felt so bad.
I was like, I know you had to go my Okay, I'm not gonna do my ca but.
Mean while moll is like I did go and I'm fine.
I know she's like, give me a treats. So I made sure I gave her the good the good kibbles. And you know, I'm just being ridiculous. But you know, it's hard even just being a dog parent. It's uh, you know, it's hard times.
Yeah, no, it's yeah. I can't imagine.
Honestly, I had a cat, but I'm like, I just can't imagine, Like I feel like cats are so independent. I bear did anything. So I can't even imagine like the level of because I see like my friends who have dogs. I had my friend Katherine was a cat person. She had two cats and then like her sister one year gifted her this cute little puppy for her birthday. She was like, what, I don't even do dogs now. She's like, I'm like, where are your cats? She's like who?
When I tell you, she's like, she has totally become a dog person, and she's like, you know, she still loves her cats, obviously, but she's like, like, she is such a dog mom. She brings a dog to work because she's the CEO of a company, so she brings a dog to work.
Everybody knows the dog. All the pictures are dogs.
I'm like, when I'm on Instagram, I'm like, you are such a neglect for mom. Where are the cat pictures? Someone like that The cat is randomly in the background. She's like, oh yeah, yeah, there he goes, And then the dog with his best thought.
I'm like, you know what, I.
Just don't love you like a dog? Does you know? I feel I did an interview yesterday with this like radio show about this study that we do at Magnet Money. I don't usually talk about it, or we do so many studies. This was one of my favorite that we do. It Magnify, and I figured y'all might find it interesting. Since a lot of different media outlets are picking it up.
But every year.
A couple of years ago, I was like, anytime you do a story, but people who earn six figures, just something about six figures just sounds like success, right, I want to earn six figures. And I was at a point in my life a while back where I was earning six figures, and I was like, I don't feel rich. This doesn't feel like wealth. I still feel like I'm paycheck to paycheck now. Granted, you know, I know people who earn you know, less than that, and you know
are thinking, why are you whining? But in a dual income household, it's not that far fetch to say you earn six figures. All you need is to people earning the minim you know, median household income in America, Yeah, which is like fifty or fifty six or six, I forget if it's fifty six to sixty thousand or something like that. So we started looking at where a family of three so two earner household with a preschool age child in America, where you can earn six figures and
still feel like you're not making ends meet. And last year we did the study this and I think Washington, d C. Was the worst place where you had the least money left over in your bank account each month, or you were going into debt basically to provide like normal basic household needs like daycare and your mortgage and all that. This year, Washington, DC is number two. San Jose,
California is number one. Really yeah, California. I mean it's not so surprising because you have a lot of like West coast, we have San Francisco, San Jose, but then the east coast, New York is number eight, and I feel it Minneapolis that was actually surprising to me. Minneapol number ten. Yeah, people only have in Minneapolis, a family only has about one hundred and fifty bucks left over when accounting for all those expenses. Yeah, so Honolulu coming
in at number six. It's you know, a lot of places, and it's not just about the places where there's a negative balance left over at the end of the month, which was seven out of the metro areas we looked at, but it's also just like the places where you have one hundred dollars, two hundred dollars, three hundred dollars left over in the bank, and you know that's when you can feel like I'm doing everything right and there's just not anything left over, you know, to invest or to
save or to save for a house or pay off the debt and things like that.
That's the part that always is so disheartening for me is that I see so many people who are doing everything right, Like they're you know, they're not buying the latte, you know, they're not or.
The Oto toasts, that's right, Like.
You know what I mean, They're not splurging, you know, I mean, they're not living like you know what I call the noodle budget, which is when you just eat Gramma noodles. You know, they're not doing that, but you know, but they're there, and and still it's really not enough. They're like, so how am I supposed to manage and.
Do all of this? And honestly, I'm like, I don't know. That's the part that you.
Know, honestly like that I was, I was talking, and I'm like, at a certain point, like if you're living in a place where the dollar like your dollars either, you know, we can say things like try to earn more money, try to increase your finances, but when you're in a place where the cost living is so high and it's constantly working against you, and you're not able to earn a wage or like an income that makes you,
you know, feel comfortable. I think by all the time, you know, if I weren't earning what I'm already now in New York City, I don't know if I could have sustained like a comfortable life here. And it's really
hard to do. Like there's people at my company because our headquarters is in Charlotte, North Carolina, people willfully choosing to leave New York to move down there because they're like, oh, I have a chance to to you know, have you know, lower childcare expenses, property taxes, you know those things that really eat transportation costs even eat up like that big part of your budget. And I see more of my friends thinking about leaving New York because of that. How can I start a family here?
Yeah, you're right, Like having a second kid is like a or even just one is it seems like a like a luxury because you're like, I mean, I don't, I honestly as you you know, how like you don't. It's not until you get older that you still you start to really marvel at your parents because you're like, how in the five my gi, I'm like, really, Arondie and Sylvia five in New Jersey, I don't, honestly I do.
And my mom is like she's like everything, like she's like, I don't know, like the way my dad even got our house, yo.
One of the things like like I hope to like if I could, if I could, if I could pray and ask for anything, it would be like the tenacity of my father because like like he wanted us. We were living in Roselle. I think by then. I don't know if Lisa was born here. I think she was, but so.
But he realized, okay, like we were in a.
Private school, well Catholic school, which wasn't super super expensive, but enough to be like, yo, there's too many girls here.
Somebody something has to give.
Either we spend the money on school because like in Rosella, the public schools weren't that great, or we spend the money on taxes. So my dad had done all this research on like what you know what New Jersey towns had, like the best public school, so he would just pay the taxes found Westfield, which taxes are relatively high, but the school system is extremely great, but to get our.
House, they didn't want like hit like what he and my mom made.
My dad's in the count and our mom is a nurse, I mean decent money, but they like he couldn't get a mortgage anywhere. He finally had to show I don't even know what made my dad think they think, think of this, but we he was building a house in Nigeria and it's a big, beautiful, huge house, and but of course it doesn't it's like dwarfs in the like for the price of what you could build in Nigeria.
Somehow he brought the plans and proof that he was building the second property to the bank and from there, I guess they kind of like were like, oh, well, you have more money than we thought. I have to ask my dad the exact story, but that's how he was able to secure mortgage because he was able to kind of prove like, although it seems like we don't have a much, look we're building a second home, so
we do have money. And somehow whatever the mortgage loan officer I don't even know the underwriter agreed and we got our house in Westfield and now, like what they got the house in Westfield for now seems like pennies. At the time, he was like all of his friends were like, Yo, you're bugging that house is way too expensive.
How are you going to manage?
It was two twenty five or two fifty, which like for like it's five bedroom, three full back, two kitchens, so you know, but back then it.
Was like they're over over thirty.
It was about thirty years ago, two fifty or two twenty five. That was a lot of money to pay
for a house. And now, of course the house is worth well over like because what sold such a great town, it's worth about maybe seven and seven fifty, but just a wherewithal to Like sometimes you know, you get a know and you have to creatively show that you are credit worthy and that my dad just you know, had the wherewithal to be like, no, I'm going to show them that I am credit worthy because I want my kids to grow up and go to a really good
school system. But I know we cannot afford to send them all to private school.
But yeah, five, I don't know when I.
Asked them, because like, I mean, it was six figures coming into the house, yes, but six figures is paynuts with five kids. It wasn't like they weren't making two hundred thousand dollars a year collectively. I would say, you know, like maybe I don't know, maybe one twenty, I don't even know, but definitely not even close to two hundred thousand, but five children years two years apart. So like and except for the baby, So can you imagine all those dag on teenagers hair clothes.
Thinking about the childcare? Like, because that's when you look at our study. Like, let's take, for example, what's number one, I said, San Jose, California. The mortgage payment in San Jose, Uh, oh crap, where is it at? It's about twenty seven hundred dollars. Childcare is about half that at thirteen hundred dollars for one child. So like that's you know, half your mortgage payment, and in some places that's like a full mortgage payment. And when you have friend, when you
have more than one child, you're just at it. And I know it's a temporary expense, but it's still like three years about you know, where you're having to pay that each month. And I think that is what can really kill can really just kill families if they don't have alternative childcare do you know what.
Your parents did? Did you guys?
Did you do like the newspaper nanny like my mom did. She just found like some lady in the newspaper and off one day when I was six years old.
Well, the lady used to I remember. We used to have the lady.
I remember, I like when we were really little, which is so crazy because we lived like in the damn near projects. But but having a nanny is not a big deal in certain cultures, like that's what we just havep OneD. So we had a nanny while we were like living in the project.
She used to come.
But I remember what I used to love about her is that she let me put cheese on my broccoli, And I thought that was everything because my mom was super like like every like my mom was a nurse, so everything we ate was like super bland sometimes and I'd be like ugh, like so I was like, I get cheese on my BROCLI would miss such as such comes So from what I remember, we definitely were in daycare because I see pictures, but we also had like a nanny, you know, like kind of come to the house.
I guess to fill in the gap of like when my mom left and my dad came back.
You know, But yeah, I don't. Honestly, I don't. I don't know.
I honestly don't know how because I can remember going school shopping and just the amount of money and bags we had, and just food shopping. My mom used to have to hit specialty stores just to make the most of our budget, like a bread, a bread factory, the butcher like. She didn't she couldn't just go straight food shopping because we had to buy everything in bulk.
You know, this is before the cost goos of the world. Yeah, I don't even know.
I don't know how you even emotionally care for five kids, let alone financially. That's why I honestly like whatever they need. My parents are always like you guys are always so ghitterous with us.
I'm like, yo, five, we're here and alive. I don't know. Whatever you want is your you want to go to Mexico? What do you need, daddy?
I'm intrigued by I wonder if our listeners, if you're you know, I know we have listeners with kids out there. Do you use a nanny and are you comfortable? I'll keep you anonymous. I'm curious what is a nanny charge, where do you live? How much do you pay for your nanny? Or like, where do you live and what do you pay for daycare? This is when you can vent, like vent to us your childcare costs. Because I'm curious, both of us thinking about having kids. I think about
this all the time. I'm like, what am I What am I going in for? Because I'm just like terrified of how much it costs out here. I just don't know what to do. I do.
Yeah, well, my sister puts, like, so my niece and my nephew.
Now that my nephew pay God is three, he could go to daycare becomes preschool and in the state of New Jersey, preschool is considered public school. But before that, with the two kids, because they're only like a year and a half apart, she was paying twenty three hundred dollars a month for daycare.
I was like, yo, what she's like kids two kids?
Twenty three hundred dollars a month and I don't even but thankfully, Like, so, if you're someone who's kind of struggling, there's something. My friend Linda is a social worker, and she was sharing that there are programs called literally there's one called program for parents where you can apply and based upon what you make, will they will supplement some of that payment, so they'll pay the school directly, so they'll look on a sliding scale and they might say, we'll pay a thousand of that.
You know, So don't hesitate to reach.
Out and apply for programs for parents, because I remember when I taught preschool, we did have some parents that were using programs for parents, and sometimes they paid all of it depending on what you make.
So there are like.
Programs out there for child care if you don't make much. But yeah, it's so child well, she said, twenty three hundred dollars. I was like, so you literally just work to put the kids in daycare? She said, just about.
Somebody out there. I know you can top that. I know I got a friend paying more than three grand a month for two kids in daycare, so I know y'all can adopt that.
Let me know.
Also, it's not just like it's not just daycare. It's like when you get into preschool or whatnot. Sometimes it's after school care you gotta pay for because like preschool ends at three thirty and you're still at work till six and then exactly. The summertime comes and then it's summer camp, and I'm.
Yes, that's exactly what she's gonna do now.
She's like, her son is three, so he's out for two weeks and then they're like, so who watches him? You know, like and then and then on top of that he goes back. But it's not it's not it's not daycare or what's daycare now? Because like you know, public school is quote unquote out, so she's gonna have to pay for that.
So it's just honesty.
Who children you like, we children are just so expensive, like forget clothes and hay, I'm just talking about like making sure that you know, you know that you're you know, you have someplace somebody.
Can watch you. It's just yeah, childcare is something else.
I'm like, it's like one of those guaranteed so it'll never go out of business because at some point someone has to watch kids.
You know, any people in the manny that I know literally one of the parents.
I go speaking to a woman today her her husband's to stay at home dad now because they did the math and they were like, honestly, it actually makes more sense for one of us stop working.
Oh, hell, yeah, no, I you hear that more and more. And when you're talking about mortgage payment or no, if you're not making more than that mortgage payment each month, then yeah. And I'm talking about like how a childcare costs can be as much as a mortgage. Yeah, I
get it. And then it's sad because it's great to be as you know, stay at home parents are the best, and like, if you really love doing that, that's great, but if you're like forced into it financially, then you feel like you're putting your career on pause to you know, stay at home. And I think we talked to for a new Shurabbi about that when she was on the show.
Sometimes it's like as much as you want to avoid it, especially if you want, you know, to have a sustainable career, to keep your career going, it can really just like delay your own advancement. But yet it becomes a necessity because it's like who do I choose my career or my kid?
And of course your comes first, exactly.
Yeah, So you guys share your stories with us. Your our email is Brand Ambition Podcast at gmail dot com. You can hit us up and if you're gonna send me a long rant, please send it an email. Instagram rants are hard to read. I'd be scrolling for hours, So email Brando Mission Pocast at gmail dot com. You can hit us up with a shorter story at Instagram our Instagram handle us at the BA Wait wait no, no
no at brand and Mission podcast on Instagram. And if you have a story, and how many characters is Twitter these days? What are we at two hundre or something? I forget?
Yeah? Big?
Then if you have a very short story, hit us up on Twitter at the BA podcast.
Segway segweg Questions Questions.
Honestly, questions have started to become my favorite part of the BA podcast because you guys ask such great questions. Although I will say sometimes you guys will message me on on Instagram and sometimes the question is.
So like heavy. It's literally like, so I'm having open heart surgery? How do you do it?
And you're like what, I can't what Like it's not literally like that, but but you know what I mean, Like the question is so complex, I'm like.
This can't possibly be answered on Instagram.
So, like Brandy said, if you have not the medical or you'd be surprised somebody asked me a question the other day and it was a great question.
It was about landlording. I think she was taking over an apartment or something like. She had brought like a a complex and there were a tenant that the landlord, the current landlord didn't want to evict, and was like, hey, you have to be the one evicted.
She was like, is it legal for me to whatever the question is?
And I was like, I don't know. I was like, well, one, I don't know what state you live in. There's different rights in different states.
And two, I'm not.
A lawyer, and three like I don't I'm not a real estate I don't contender myself like a real estate expert. I mean, I have a house and we have a second house, but that doesn't qualify me to be like, ooh, what you need to do is? I mean, I always appreciate great questions, but sometimes I think you guys give me way too much credit. I'm like, uh, two houses a genius does not make me. But yes, but I love our questions that we get. So what's what are the good questions that we have?
Now?
How about a housing question to start things off? Since you know you love those. This person would like to remain anonymous. That's totally fine. Hi, ladies. I'm a new listener and I love the podcast. I'm in my late twenties, and unfortunately I've missed manage my credit. But I've decided to get serious using the combination of bringing an income from a side hustle and using the snowball effect to
pay off my credit debt. I'm confident I can pay it off my credit cards and save a decent amount in three years, in which I'd be interested after that point in buying a home. But would I be eligible to buy a home if I've got the funds there and I've improved my credit over those three years, or do you think the bank will still think poorly of me because of my past behavior. By the way, I've always paid bills on time. It's just that it's just
more so that I have a high credit usage. Good question, And hey, you're in your late twenties, but you're getting your act together. That's pretty much like the pattern for most humans.
Yeah, you know, it's always so crazy to me when people like in their twenties are like, oh my god, I messed up. My life is over. And I know I was there before. I remember being twenty six being like I'm so old now. But no, in your twenties, you are like super super.
Time is on your side.
It is, I mean not that it's not on your side of the thirties and forties, but especially your twenty that's literally the first decade of like true adulthood. Like no one's expecting you to be Albert Einstein when it comes to your money. But well, the bank is looking for a couple of things right when you're looking when you're buying a home. So one, they're looking to see
just how much debt you already have. Like I'll give you example, I was like super good, I had a great credit score, all that kind of stuff when I bought my condo when I was like twenty five, but I had student loan debt and they gave me so much trouble even though on everything else I was like an A plus.
So one, they're gonna look at how much debt do you.
Currently have because banks don't like to see that you have a heavy debt burden because they're like, well what about us, We want to be your only real heavy
debt burden. Two, they're looking at your credit score, so they're wanting to, you know, your credit score is basically like your financial GPA, so they're wanting to know, like, you know, have you do basically pay back and so, you know, I feel like in the long as long as in the last couple of years, you've been pretty consistent, So it's not like you've got delinquencies from like six months ago. If it's been three years or more, I
don't know how heavily they'll count that against you. Is really what your credit score is going to kind of dictate, especially if you've gotten low debt, and especially if like the last couple of years, you've been like on point with it. And then of course they're gonna want to see, like do you have like that down payment, do you have money like actual cash like set aside, because it's not just your down payment. People forget their closing costs
that are associated with with with purchasing a house. So that's really what they're gonna be most those three things are what's gonna be like what they're most concerned with.
And so as long as those three things are are in alignment, you should be okay.
Banks not that people make mistakes, but really like most creditors, mortgage people are are really concerned with what have you done most recently because this is this is is that this is a snap stop of your current financial character, so something from like, you know, years ago, although not to say that it's not like they're going to totally ignore it.
But if what you're doing now all sets that you still are, you still have a strong there's still a strong.
Potential that you'll be able to get a mortgage without any major issue.
Yeah, And the key there is that they really are looking at what's happened in your life the last twelve months. Especially so if you're you know, you're looking three years down the road. You can have this debt paid down. You're going to get those balances down as long as you don't rack up that credit card debt behind after you make those payments, which it can be tempting to do. Once you finally got your cards paid off, just be really diligent about getting your usage down as low as possible.
And in three years, you know, I don't see why you would have a problem, especially if, like you said, you haven't been delinquent on your payments. You're probably just racking up debt and making the minimum payment on time, you know, and keeping your credit in good standing. But what could kill you is is the credit utilized rate, So how much credit you're using versus how much credit
you have. So as long as you've got that taking care of and you've got a plan to pay it down, which it sounds like you do, you know, you should be You should be in good shape. Just be careful about racking of debt the year you're about to get a mortgage, opening up new credit, the year you're gonna have a mortgage, that's a big red flag. A lot of people think, oh, I'm gonna get a mortgage. I
need to show the bank I can do this. Let me get a new credit card, or I'm gonna get a mortgage, let me go ahead and take out a you know, finance some new furniture. And that can really screw up your application because one, it adds debt to your to your debt to income ratio, which is how much debt you have versus how much income you have coming in. And if it's happening during the underwriting process, like when you're already applying with the bank and they're
vetting you out, it can like freak them out. Oh no, this person is not you know, is inconsistent or you know, they're not financially stable enough to not need credit right now, so they're taking out new credit and it can throw a wrench in your and your whole plan. So just be cautious. It sounds like you're on the right track, my friend.
Yeah, no it does.
And thank you for your question. Appreciate that. Let's go switching over to the email inbox. That question was from Instagram. Let's see, Oh emergency fund question, So this comes from listener. Let me see if she want to be anonymous. Nope, Paulette, Hey ladies, apologies if you already answer this question. But how do you come up with the magic number for the amount of money to save for an emergency fund? And where do you save it?
Keep up the great work, so paultte pat of me. You see my Spanish there, call me Corey Booker and whatever the guy's first name is.
You see the silence, Shaye, I can shave Corey he you know, yes? Right? Yeah?
First of all, did you see Corey's face when he started speaking Spanida and she was like, wait, that was gonna be my thing?
Like it was hilarious, but everyone who I.
Know speak Spanish was like, yo, it was the worst display of that language I've ever seen.
Yeah.
So anyway, so for me, I like to three or four months is enough for me. But it depends what industry that you're in and how quickly you could recover from basically job loss.
That's what I like to use as a measuring stick.
So one of my sisters is an engineer, so if she would have lose her engineering job, it's not super easy, especially for a black woman, to secure another engineering job, so she might need like a year. My mom when she was a nurse, she's now retired. Honestly, I remember when her hospital closed down and nurses are still in high demand that she had a job before the hospital had even fully closed because nurses were in such high demand.
I mean she had like ten hospitals. Like I remember every day they were calling the house like is your mom home?
Is your mom home?
So for her, a couple months is more than enough because she could replace that income.
So really, how quickly could you replace your income in your industry?
And yeah, and I like to save my savings in an online only savings account. I always direct people to Magnify Money Mandy's company. Well, I know it's not her company, but you know what I mean. There to magnify Money dot Com because I like to find an online only savings account and I at the banks. I one, you
look for an FDIC inshored bank. Two highest interest rate, three lowest required deposit, and then four you're also going to make sure that that interest rate like doesn't go down if you don't have a certain amount, because there a certain banks where it's like, in order to earn this interest rate, you have to have like twenty five thousand dollars in our bank and maintain that balance.
So yeah, I mean, I think.
Like I said, three months or above, depending on what industry you're in. And I like online only banks, and I always go to Magnify Money when I'm looking for an online only bank, and I don't open up a checking account with that bank because I want that the way I can get my money is to transfer back to my regular brick and mortar bank because there's like a delay of about twenty four to forty eight hours that stops me from overspending.
Yeah, I mean, the key with an emergency fund as far as where to save it is you know, there's an emergency fund, which is like you know, your car breaks down the middle of the road and you need money transferred over, or your roof brain your roof collapses and you need a hotel for the night or something like that. And for that, I would say, keep it
in an account that you can access immediately. Like you know, even if you have to have one small emergency fund tied to an account that you know, you can go to the ATM and pull it out, which that applies to online banks too. You know, I have ally, I have a debit card. I can go to ATM and withdraw from my savings if I need to. And then if you've got you know, you want an emergency fund for like like TIF said, the big things job loss, illness,
medical debt, things like that. You know, definitely keep that where you can earn the highest rate, even if it's a little bit more inaccessible, because you won't need to access it, you know, within an hour or something if
something crazy happens. But since we're talking about like savings and stuff, you know, the FED is looking like they're going to be potentially lowering rates and I heard yeah, and some some banks like I got an email from Ally that their savings rate is going down, not a ton, I think it's going from two point two percent ap Y to two point one percent ap Y, but just saying, like the period and that's about savings rates, you can probably expect to see rates fall if FED do, If
the FED does cut deposit rates, rates fall on things
like CDs as well. So we're just kind of entering this new period where for so long it's been the online banks competing and ratcheting up their rates and giving people higher and higher returns, and you know, I don't know, it seems like that might be slowing down a little bit, which just means it's even more important to shop around, like Tiffany said, and make sure you're getting the best deal because there are still some places out there that are giving higher rates.
Just be mindful because sometimes like like like Ally, that's my bank as well, But so sometimes like they're definitely banks that give more than Ally, but they're like those kind of like you know, these are like kind of like introductory rates, so you know, you're like, oh, yay, they're giving me two point five to allies two point two. But then if you really look at the fine print, you're like, oh, for the first six months or for
a year or whatever that is. So you're gonna want to look for a bank that will steadily give you that that that rate, and you're not because you don't want to. And I used to do that. I used to bank hop like a lot, and honestly, it's too much. So I really wanted to stick with the bank that you know, had like a steady, sure interest rate that wasn't fluctuating like months a month.
You know.
No, that's a really good point.
You are smart. I'm smart.
So sometimes you need a next you want to take one more question on Oh, no, gotta go.
I gotta got my dog.
You know, my dog, my dog, mom guilt. But thank you guys for your questions. We'll get to more next week again. Go to Brandambission podcast dot com to click the ask us anything tab that I'll send us an email. You can email us directly Brandimbision Podcast at gmail dot com or yes, or go to Instagram and uh direct or what do you call it? Da?
Sorry?
Direct message us? GotY d m us.
I know you already knew.
I was like, give me that card back, give me that millennial card.
Beck send us an.
Insta mail at the Graham We're at Brown Ambition Podcast. Can't even get the name out at Brandon Vission podcast on Instagram. I also love when you guys share that you're listening to the show. And I actually did a better job sharing y'all stories last week. So let us know when you're listening to the show on your Wednesday commute, take a snapshot of your favorite part of the show or yourself listening, whatever you want to do, and we'll share it. It could be one big brand ambition party.
Yes please yes tag tag tag because I love clicking the reshare button.
Now it's Tampa Winds. Oh no, Oh my gosh, yo, that was a throwback.
That was Brown Break, Rock Boost, Brown Break or Brown Boost. I feel like we do like more more boost, which is great and breaks, which are you know, I mean they're great too, but you know, I feel like, thankfully we do more wins.
So are you gonna break?
Are you gonna boost? I am gonna do I know I said I was going to do a break. I kind of have done enough winding for one episode, though, so I'm gonna flip it because as I was sitting here, I was feeling warm and fuzzy because my my neighbors. Honestly, you know, I've been in the burbs for about a year now, technically about six months because we were out
for the renovation. But I have just you know, we just found this little, this little stretch on our little block where the people on either side of us are just so nice. And they have been the people who I can call and text when our dog walker bails and we need someone to let our dog out, or you know, if we have a package that we don't want on our doorstep and they can bring it in, and they are just the sweetest people. So shout out to people who have good neighbors and getting to know
your neighbors. It was a little awkward at first. It's way more awkward, I feel, well, actually it was awkward in the city too, Like in apartments. I feel like I never knew my neighbors. It's a little awkward to like get to know other grown adults living their life. But I'm so happy that we have because they've been we don't have anybody else out here, Like we're probably twenty minutes from our closest relative, and they have kids that you know, need their attention, so they can't come
to our rescue all the time. So we've really leaned on our neighbors lately and they've saved our butts on multiple occasions. And just got a text from a neighbor ar Nando, calling him out his teenage son is going to be Molly's dedicated dog walker. Wooo that summer yay. I'm just like, please, someone, please, Molly is the best dog. Please someone treat her right.
Oh that's awesome. So yeah for neighbors, Yeah, yeah, for neighbors.
Well, I've got a brown break in a brown booth. So brown break first is for professional comparison.
So I don't know. Lately, I don't know.
Lately, I've been like, you know, like all the socials and usually I'm not, but like, you know, just I I unfood followed a bunch of folks who like do basically the same thing I do, like even though like we're cool in real life. Because I had like this really bad habit of like professional comparison and then using it as a way to be like.
Tippany, you're not doing good, you know.
But I found myself like I was, you know, So I found myself like I was like, I could totally follow people like again, it's not a big like you know, these are like my actual real like financial friends.
So I call my financial friends. So like we talked on the phone, we kind of connect and I was like, oh, I'm not following, so I need to follow such and such. Shah. I don't follow so fast on follow.
Because I realized I'm not over the professional comparison like thing. And I'm like, you know, and even though I know I'm doing well, I don't think I'm not doing well. But then you know, you start saying, oh, man, did I miss out on an opportunity?
Or ooh should I do that too?
Or dang, you know, you know, everyone seems to have been chosen for a certain campaign.
They didn't choose me. No one called me.
I'm like, oh my god, Symphony, honestly, are you five now? So yeah, I don't if you guys have any tips about how to get over it. Maybe there is nothing, no way I don't know about how to get over kind of like like not even well, cause I feel like in my personal life I don't do that, but definitely professionally I find myself doing that using sometimes other people's moves to measure whether or not I'm doing a good job or not, and I don't want to do that.
That's why I said I unfollowed basically like all my real life financial friends and folks that do the same thing as me, because I couldn't seem to get past like like looking.
At being like, oh dad, what does that say about where I am?
And you know, because I know, like I know I'm doing whused in preschool teacher for goodness sake, not that that's like something bad, but from where I was to where I am now, of course I know that. You know, I'm proud of myself and I'm doing well. That's why I hate when I look at something and someone's killing it and I'm like, yes, go girl, you killed it, and then this other voice comes in and says, are.
You killing a Tiffany? He's killing it. God.
It just reminded me this meme that I that Vial with Davis shared yesterday. It was like this evil It was like evil Barbie whispering and good Barbie's ear. Anyway, what I'll say is I think it's human nature to compare ourselves and the thing about being an adult that's so damn hard is that the measuring sticks are gone. Like when you were in school, I was hella competitive. I knew there was a list people got grades, You got GPA's, there was a valedictorianus lutatorian. You know, you
got awarded every four years for graduating. They were gold stickers and ribbons and awards ceremonies, and you always kind of knew where you were at with your peers, and you could compare yourself and strive. And I think competition makes you better in that way. When you're an adult, Like we're all out here living own lives, there's no one measuring stick, and it gets hard, and like Instagram and social has become that measuring stick. But it's so
ineffective because it's biased. Obviously the other person is only posting the highlight reel and it's it's it's just toxic. And you know that's why that's a big part of way I've pulled away from Instagram the past year and a half. You know, career be damned. I'm sorry, I I don't. I just my mental health and just my
own self worth came into play. And I think if you if you need social media for your career as much as you can just try it, like the way that you've unfollowed people like thinking of ways to protect yourself.
Yes, and that's what I've done.
I'm like, so like one, I don't like I I you know, I don't I get the job done and what I need to do on social I do a lot of like in my team does a lot of scheduling, so that way it's like it's out, but I don't have to necessarily let go. And what I I started to do on Instagram with has helped a lot.
Is I used to.
Follow, like, you know, like professionally like follow, and I still do somewhat like business accounts, but I follow way more.
I love old homes.
I follow way more historic houses and like interior design and like all this other stuff that so I can when I go on Instagram, I'm flooded with like eighty percent like stuff that like, you know, I'm wanting to see, not stuff that's going to make me say like ooh girl, like such and such. You know, I don't know got booked to do the you know whatever your like your favorite bank or whatever. How come you didn't get booked? So I don't get this I don't see that as much.
But I guess what the part that's hard for me is that I wish I.
Didn't feel like that.
It's like, well, what, you know, like what can I What exercises can I do?
What mental exercises can I do?
That way I can follow folks and not feel like, you know, not use it as a reason to be like Tiffany, you could definitely do be doing better. And I'm like when I know that, you know, I like where I am. You know, I'm happy where i am. I'm proud of how far I've come. So that's that's the brown break. It's figuring out what does that like what? I don't know if anyone's kind of like cracked the code on, you know, letting go of that comparison. Like
they say, comparison is the thief of joy child. There is nothing more true. So but then and then my my brown boost is just the ring. So we have the ring. We finally have internet, and so the ring doorbell is everything. Okay, let me tell you I was in the office today, working in my new office and my new house, and I you know, got a little notification.
It was the Amazon people, and I could see the girl who very roughly threw my box but whatever, but threw it on the front porch and I was able to go downstairs and get it right away, versus like not knowing when something was delivered.
So I love this ring app. It is great.
Like I could see when Superman is coming home, I could see when anyone comes on the front porch and it just shows like the ring app also connects to something called Neighbor next Door or something like that where I can see like other people's ring stuff that they post. So if there's like like there was a kid that was like checking everybody's car doors a couple of nights ago, I guess looking for change, and so like you can kind of see, like you know, just be mindful everybody
lock your car doors. So I love this ring And I know that the ring guy was on Shark Tank and I think he got like the nied and of course now it's like a huge business, but honestly, the.
Ring is everything.
Get it ring everything anyway, that's my brown BOOST love it.
We're a nest, We're a nest family out there, so there's so many new systems out there, and I love I just love having surveillance on all my my little tiny house, which feels kind of ridiculous, but it gives me a peace of mind. You feel isolated in the suburbs. It's quiet out here.
Mm hmm.
Like my first few months living in this house, I was terrified at night, and.
I remember, I remember, yeah, and I.
Felt like such a big baby, and I remembered as a child. I was really spooked out too by all the noises in my house. But yeah, it gives you that piece of mind. And a dog helps too, So I'm on team get a dog.
That's true, because you run up in there with a dog. I don't care how cute and color of your dog is. That dog will give you the business.
That's great.
Well, it's been awesome as per you. Let's do this again next week, shall we?
I mean, why not. Let's keep it going, keep the party going. Good luck with the new house. Can't wait to see it.
Yes, I know, so many thanks by all right, y'all, We will talk to you next week. Thank you for joining Brand and Bishen. As per usual, it.
Was Spanish audios Whish, which was like Arnold Schwartzenegger's. It was like Arnold Schwartzenigg Louigo Rosario Dawson was like Obay. We worked on this