So we are back. We are back, we are black, we are brand ambition. It's Tiffany, It's Mandy good.
Day, wow, epic jazz hands. Also, was that the tune of Bee?
Yes? Okay? Good?
Were you also thinking about Beauty and the Beast randomly today? Because I found myself thinking about it a lot today And what a busted story that is for young girls.
You know what? I was thinking about it because I was thinking about as reading an article right before we got on that incident with the woman walking her dog. Oh yeah, Karen Central Park Karen hashtag single park Karen. Yes, Wow, wow, wow, wow, wow wow.
Can we not get through a national holiday without without a story? This is so sad and the fact that it happened in New York to racism or Karens. A lot of Karens move here from other places, you know, to fulfill their dream their dreams. It puts them in the path with a lot of brown people and then we have these situations. So but yeah, what a should show. Let's talk about it. Yeah, let's also talk about the connection between that and Beauty and the Beast for a second.
Well, because I was thinking to myself, like, she's in the that she was in the woods. Like it literally was like still on my computer. So I just was thinking like she was in the woods and I don't know, and it just had me thinking like be I guess, you know, just so many leaps that my brain made.
But I mean, I'm with you on the journey, even if I don't know where we're going. I'm always with you, ride or.
Die, tip a. But honestly, she could not have except she has the beast for the pack of wolves, and he's like Bell, Yes, exactly, he's the bell in the analogy.
I'm with you now, gotcha?
Because I'm just like, ma'am, it's just and you know what, I guess what really is? Well, let's just say because not everybody knows. So there's a woman named Amy Cooper because black Twitter has done its hissing, and they found that woman within twenty four hours, and I fired, Wait, I mean, could they erase student alone that? Because black Twitter, y'all just do what to do all the things?
Girl lost her job, her livelihood. Has issued an apology that's from like what the headline in the New York Times has changed like ten times today to update the story.
Yes, and then gave her dog back to the to the shelter. So apparently she was in this place called I've been I've been to Sycho Potential Park before, but there's a section called the Ramble, which I guess is specifically known for bird watching, and you were supposed to put your your dog on a leash, which sounds reasonable because you know people. And so a gentleman named Christian who was bird watching asked her to put her dog on a leash, and Amy became enraged because how dare
you tell her what to do? Begins to I guess rate him and quickly realizes, she know what, I don't have to do whatever you want. I'm actually going to call the police and I'm going to say, She literally says with her mouth, do you know the level like this is peak Karen level that you are literally being recorded. You can see it and for you to say, watch what I do as you record me, I'm going to call the police and say an African American man is
threatening my life. She's saying this Basically, I'm gonna see if I can get you potentially hurt. Today.
It almost she seemed like a threat, didn't it, Like I'm gonna make sure to tell them you're African Americans, so that they come with their guns. Ready, That's what and I'm reading I'm reading into it, but it seemed like that was the truth threat, not just that I'm gonna call the cops, but I will let them know of course, that you're a man.
Well, the fact that she said, because who says an African American man? Like if it was just a regular she would have just want, like, I'm gonna tell a place a guy threatening me. But the fact that she said an African American man, it was very much can from across the street. Remember I told you, remember we talked about how yes, my my husband's twin. Yeah, very much like call the police. That's what that was. It
was weaponizing whiteness. She knew exactly what she was doing, and she knew that he knew what that meant like, and she says like, like, I guess she you know, she's issued a weak apology. Basically, she's like, I was I was afraid that. Did you watch the video? She didn't look afraid to me. She looked very much in charge. Yeah, I was afraid. It picked up.
It picked up right when he started after after the beginning of the altercation when he asked her to put the dog on the leash any because it's him recording. That's that's the footage that's been released, nothing from her phone. I felt so bad for the dog because she's just yanking the dog's collar, holding onto the dog by the collar as she's frantically dialing for the police. And that poor dog, no wonder she had to give up ownership. That dog choked to death.
Yes, I was looking like, ma'am, you are so so concerned with trying to get this man in trouble that you are literally killing your dog. That dog was like, Amy, I didn't do it, Amy, I can't believe. I can't breathe. Yes, oh yeah.
And and the fact that this guy he the reason I think this is what triggered well, I don't know. It's all like, you know, we're all just reading between the lines or trying to make the story hole in our heads because all we have is the video. And then Christian wrote a Facebook post, which is where the
story's coming from. But he said that he keeps dog treats in his pockets because he's such an avid birdwalker, and he runs into the situation a lot where people are not putting their dog on the leash, and so he keeps treats in his pocket just in case, which is very smart, in case a dog runs up on you, as they do, and you're afraid and you want to just like, you know, distract the dog or even I think he was trying to prove a point to her that if your dog's not on a leash, then cool,
I'm gonna give him a retreat and he's gonna wander over here, and then what are you gonna you know? So, and he needs a known he's like president of some society. He's a known launcher.
She literally chose the absolute worst worst the word I mean, Harvard graduate. He didn't need to be a Harvard graduate. But aren't we all just glad that I am he shouldn't have to be. But the fact that he's literally a Harvard graduate, he is an ex Marvel connic book editor president, I'm like you. The fact that that even is important, that she can look at him and be like, let me turn on my my my fake tears, okay, hold on, hell, I was like, what, okay, cool?
He might have had a better chance of surviving an altercation with the police than someone like my dad, a black bus driver, working class from Atlanta, who doesn't speak like a Harvard graduate, but like that could easily. I always put my dad in their shoes, and I get so mad. I just don't understand how doing of mental leaps, How does it go? Where does the Karen, Where does it come from?
Why?
How do you What is it about society that has told white women in this moment that they need to escalate it to that level and put just for their own safety, you know, like where where? And I'm not trying to say that she's not responsible for her actions, which she absolutely is. But this is a common theme. And it's ironic because I had just I had just watched on Facebook they had rerun this Ted talk that Baratunde Thurston had given and he's this he's a pretty
well known writer, and he did. He gave a Ted talk on exactly this kind of situation, why you call the cops, and how you can change your actions and not escalate it to that level. And what happens when you do call the cops. It puts, you know, it puts the person on the other side of it in direct danger for their life. And I encourage you all to to check out that Ted talk. But I just watched it and I'm just like, yeah.
I mean, well yeah, I just the thing is she knew she knew exactly what she was doing. It just doesn't know about the internet. Yeah of course. I mean this is a woman who I forget what she did, but she she an educated woman with a high level position at Franklin Templeton. I heard that, Oh my goodness, yes, I believe so. And then they heard that so many people were on the site today complaining that they crashed their site, I know, Frankslin Templeton. That was like, what
in the social justice movement? Yeah, but you know, black Sweater's undefeated. They're not just here from memes, Okay, they are undefeated. What I was like, how did they find her? Apparently one of the ways they were able to find her is that I guess she hired dog walkers, right, Yeah, dog walker turned over.
Her.
That's what happened. When you know the dog walker was like the dog walker probably was like I know that dog Yeah exactly, you know, but yeah, it's just that yeah, and she's like her life is ruined. But I'm like, yeah, but what, here's the thing. What was your intention was it to ruin his? Look what you know, like crime me a river? If you would have won, if you would have if he would have recorded you, and they would have come and roughed him up, Like what was
your actual intention? And now that literally you dug this grave for this man and you fell in it. Now it's like help, No, I honestly don't feel pity for her. Where are the thing?
And hopefully in white women tears, Yeah, that's always what comes next, because it's a tearful apology, you know, distract us from the fact that you know, look all innocent and I'm just a woman, and you know I never met any harm. What doesn't matter. You picked up a
load the gun almost And that's the sad truth. And she's the way that she said it just leads me to believe that not only does she is she aware of these situations as they happen and the danger that it poses to to people of color, not just African Americans, but especially African Americans, but she she knew that because the way that she said it told me that she knew what she was doing was extra dangerous for him as an African American.
Look at the past.
That's like attempted assault or something, and you need to start the police needs to push press charges at a minimum, because she could have endangered his life. You know, he might have been reaching for dog treats and someone would have thought it was a gun.
Exactly. It's absolutely heartbreaking.
But I'm glad in this case, and I'm glad in this instance it ended up on the right side. At least, you know, no wrong, no harm came to him and she, you know, I don't wish anyone ill, but at least she, you know, wasn't rewarded for her ignorance.
Exactly.
I don't want someone to lose her job like that. You can debate whether that's what she deserved or not, but I would rather she was arrested for attempted assault or something like that based on how she how she threatened him.
I would like to add that to that. Yeah, please, I would like to add that on top of the and it's okay.
So I live in the suburbs of New York City, about thirty minutes outside of New York City, So I ride the commuter train and to work. I mean I used to when months ago, when that used to happen. People rode trains to work or went to work at all. And this is the kind of like the number of times like let you make a one make let you sneeze in the quiet car, just I dare you to sneeze in the quiet car on the way to work on the commuter trail, the Metro North, because there are
it's full of Karen's. And what's the male equivalent of Karen? Did we say Keith? It's full of it can be Keith for us, because that's your neighbor. And if you don't know what we're talking about, go last week listen to the show. It is full of Keith's and Karen who loved to who loved to correct one another. Sir, it's the quiet car, Sir, ma'am, it's the quiet car.
And I've seen people like snip at each other like that, white people snipping at white people for breaking the rule in that way, and they, you know, they get very excited about being able to call someone out. But the difference is like, how dare he be a black man and do the same thing that I'm sure you know every like I'm sure she would have done in that situation, And That's what it's about. It's not it's not that you know, it's whether or not he was wrong or right.
It's the fact that he has the balls, he has the audacity to come to her, a white woman, and try to correct her, because that is not acceptable. But it's perfectly fine every day on the train, and and I know one day on the train, I'm sure if there's well, the train that I ride is not super diverse, but I'm sure if it was that situation and there was you know, a Keith or Karen and then Christian Cooper on the train and he, you know, he had the audacity to try and correct them, it might have
happened on that train too. It's it's a problem that I don't know how to solve it.
It needs to be a crist Yeah. This, thank god for just video and thank god that he you know that Christian kept his his wits about him. And thank god for christian sister because she posted it on Twitter. Oh she did, okay mm hm, because he was he didn't think he's like, honestly, it's from what I'm reading, it didn't seem like he thought much of it because it didn't end poorly. But I guess he showed his sister. She said, Oh, we're not going to do is you know?
She said, let me get my homies on Twitter. Twitter, there's there's nothing but space, time and opportunity on Twitter. Black Twitter is like we've been home all day. Oh oh, there's a mystery that needs to be solved.
Right, nothing but time to to scroll into to reach tweet and h a damn bird water?
Could he be doing anything lessing?
Not that he needed to, but like, but could he be doing anything more innocent and adorable damn birds?
Oh yeah, trying to find out you already know, which is so crazy because you already know. They try to do some digging, like maybe he maybe he'd sells drug something that we can make.
It like Harvard graduate. No, actually, no, Marvel comic editor.
No speeding tickets, parking tickets. It's pathetic. He should he should have been able to be an ex convict, like you know, I don't know just out he shouldn't. He should be able to be any damn person.
You know.
He shouldn't be able to be anyone and just mind his own business and not fear for his life in that way. It's it's sad.
Very very sold, so random random twists. I don't know, I was, I have to It was just before we got on too, I was like, looking at like my mortgage papers that I have to sign. Do you think a mortgage crisis is looming? You know? Our last procession was kind of triggered by bad loans made prior to two thousand and eight, two thousand and nine, I y'all know, for most of y'all, you know, I lost my home during that time, my first my first home, a condo.
But I was just thinking about that as I was like, you know, looking at the three five papers and getting ready to sign, and I was thinking to myself, like I was reading some statistics where I think it was something like like eight percent of homeowners right now, you know, or in forbearance, you know, like because three fourths of homes are government back to mortgages right through fourths of homes now people folks who have homes have government back mortgages.
And y'all know, luvia the Cares Act, that that these mortgages are available for forbearans, and that the government's like up to six months you don't have to pay. There's still the interest is still running.
And you're going to owe that money in six months. We don't understand about four barons.
Yes, well, I will say too, because one of my friends like came to the loan right like let you and also yes and there, but there's some loopholes. To my friend Mikayla, who's an attorney, has been like studying it. She and I were just talking about it and she was like, girl, like, you know, there's ways. Basically, if you don't have it to pay, the bank is not
supposed to force you to pay. They're supposed to be able to offer you another six months and even then they're supposed to work out some other reasonable payment plan. But she said she doubts the banks. You know, banks obviously are not going to be the people to tell
folks all the rules that are inside the CARES Act. Actually, Mikayla's working on creating some like really easy to understand and kind of like checklists so folks when they're approaching their bank can intelligently ask the bank for what they're owed via the care sect. But either way, so there are a lot of people who can't afford their mortgage and they're not losing their homes now because they've opted for forbearance, So then what happened? I was just thinking them.
You know, there's so many facets to this pending and looming recession, right it's like COVID, Oh my gosh, the market, what's gonna happen there? And now it's like, wait, so all this money that's being printed, what happens when that stops? And now, you know, mortgages, like what happens when people can't afford their mortgages anymore? And six months from now,
twelve months from now? So I just was thinking about that, like, you know, because as it is right now, it seems like housing prices are staying steady because you know, me, I was looking for investment opportunities. So that's why I've just been nerding out, like huh, but housing prices are
staying steady. There was the demand for homes actually has not subsided because folks couldn't go out the last month some change, and so now those folks who weren't able to go out to find homes are like, oh, finally the country's open back a little bit. So we are not seeing really a drop in home purchases. Folks who could wait are like, Okay, I won't all wait to put my home on the market, so those who felt like they really had to sell. Basically, the market's not
flooded with homes. It's still basically a seller's market. I say all that to say, but it's not always going to be. So I'm just curious what you think about price a potential mortgage crisis looming.
Oh, thank you for asking me. I have a lot of fie feel very like, thank you for trusting me with this answer, with the caveat that I'm not a mortgage economist or any kind of economist, but it's funny. I will add to the list of reasons people are still buying homes out there is not a lot of Like I was just talking to a friend yesterday and she said that a good friend of hers they have
sped up there. They live in a two bedroom apartment in Brooklyn, and they were like, we need to get a home, We need to get out of here because they have a four year old. Then they're married and they're driving each other crazy, and so they like, all of a sudden, it was like, we think we're going to buy and then boom, they had bought a to get the f out and get more space. Do I think there's going to be a mortgage crisis. I really hope not, and I think that one is a lot
of things are different. It's ten years since the Great Recession, and there were, thanks to the Dodd Frank Act, a lot of regulations put in place to make mortgage lending a lot safer for consumers and to make sure that consumers aren't able to take on mortgage debt that is outrageous that they could not afford with their household income. That being said, obviously, anytime, what's the unemployment rate right now? Like a million percent? I don't know, great depression levels, yes,
over great depression. Yes, millions and millions of people are out of their jobs, including like my dad, who's still out of work. The way that he's making his mortgage payments or thanks to unemployment benefits and his extra how much do they give an extra six hundred bucks on top of your unemployment benefit through the Cares Act or through the legislation that Congress passed that's going to expire
at the end of July. I believe that extra six hundred dollars payment and his unemployment benefits should last through the end of the year, I believe. Now what's scary is if the government does not step in and continue to provide this type of funding so long as people are out of work. Now that's a different story depending on what zip code you know. At this point, it's
like by zip code, the story is very different. If some places are reopening and businesses are getting back back to you know, levels pre COVID, and people are using services and paying for services again, and people are able to get back into the workforce. Maybe in that zip code you don't have people falling behind their mortgages and struggling to keep up and getting foreclosed on. And maybe in other zip codes that are harder hit where people are not able to get back to work as quickly.
And we're we're getting past July thirty first, when the extra six hundred dollars has gone from unemployment benefits and we're getting you know, unemployment benefits are expiring and people aren't able to keep qualifying for them, maxing them out and whatnot. Now that's scary to me. And there's not going to be a vaccine until twenty twenty one at
the very earliest. It seems like from what all sources are saying the sources that I read anyway, the scientific ones, So I don't know, but I do think it is a super local story. I think your zip code will dictate when you reopen, what that looks like, how quickly people will want to start using services, spending money again,
getting back out there. And that's going to directly translate into how businesses do whether they're hiring people back, and when they hire you back, are you working the same hours, are you getting the same pay, do you have a
salary cut? There's a million different things. One thing that I know for certain is without more action from our elected officials, I am really worried about what it looks like after July or through the end of the year for people who are on the brink of financial insecurity
and really need those benefits to get them by. It's through no fault of their own that they're out of work, right, and that is why Congress approved that jillion dollar stimulus package, and as far as I know, they haven't approved another one. They can't agree. Republicans are now pretty much saying, oh,
that was a one time thing. Now we need to take a deep breath, and we're not going to be cutting any more checks for the near future, and Democrats are pushing them to provide more stimulus funding, and they're kind of at an inpast right now. Something like that is going to need to happen because and again this is like at a local level and many parts of the country it's going to be a long time before
they get back to business as usual. And maybe in other parts of the country they're fine, you know, and they're like I saw a picture of people at a pool party over the weekend, which is kind of terrifying. Yes, some parts of the country are feeling real good about themselves, feeling real their immune systems are popping apparently, and like they're back out there in the world. There's other parts like New York where we still you know, I still am not sure when you know, Reel will ever see
his grandparents who lived thirty minutes away. I know, it's a very long winded answer, but it's not going to be. I don't think it'll be a nationwide widespread mortgage crisis like we had an eight and it's very different reasons why it would be today. It would be because people are not able to get back to work because Congress does not act to give people funding or forced banks
and lenders to get people a break for longer. How long can you tell a bank you're not allowed to foreclose on people who are in for Baron's programs.
I don't know.
It's so unprecedented. But without yeah, without action from Congress, sure, but I don't think it'll be a mortgage crisis on the I think it'll be, like I said, at a local level, very different from one zip code to the next. Yeah.
And also too with these low, super super low interest rates, these are like unheard of. So people are like, uh, because people keep asking me should I buy a house? Altivey, and I'm like, you know, well, we find abs so frequently, Like I'm honestly on the fence about buying a house.
It all depends. But I feel like if your interests like most of my friends, they bought homes, a lot of most but a lot of my friends bought homes, I would say the less two or three years, so like two three years ago, you were looking at interest rates to like five percent and five four point three four point three four point which is like, so, I know, but if you have an interest rate of over right now interest rates, I mean It all depends obviously on
a narrative of things. But they're looking at interest rates in the under three point five percent, depending on what your credit score looks like, and YadA, YadA, YadA, all these other things. But like, that's you're gonna a friend of mine, I want to say, her interest rate was like five point six or something like that, and now her her interest rate is three point you know something five or something like that, and she's saving four hundred bucks a month on her mortgage. That's a good amount
of money. So abs so freaking lowly. I would if I, you know, if I'm on the fence about where you to buy a house right now, because I would love for people to lock in an amazing interest rate. But at the same time, I'm like, I knew Dad, knew Dad. I'm not sure during times like these, but I do believe that, Like, if you can refinance and save five six, you know, six hundred plus dollars a month, I think that's a good thing.
I love a good refined calculator, and we happen to have one at lending Tree, so I'll put one in the show notes for you guys. Refinance. I've been playing putting our numbers in the REFI calculator a lot and just playing around with them. Two points off your mortgage,
that's huge for sure. My whole thing is I don't want to have to get you do have to pay closing costs because you're getting a new loan, and I would want to see are they allowing you to roll those closing costs into your loan so that you don't have to pay upfront, and like how that would affect the mass because if I couldn't do that, I probably wouldn't, you know, refinite, because I don't think the upfront costs would be worth how much we would save, because I
don't think we're going to be in this house for a full thirty years. A lot of times when you do the calculations. If we're guilty of this too in our content, is we can We'll say, you know, you can save twenty five thousand dollars over the lifetime of your mortgage if you refinance, but are you going to stay in the house for thirty years you need? And also it doesn't take into account how much of you already, like how much equity do you have in the house now?
And it's a little complicated. I might just on top of using the calculator. I almost want to say, also, if you call a loan officer or lender and have them like they want to sell you, they want you to take a lot alone with them, maybe they'll do the calculations for you, make the math a little bit easier, you know, with no pressure for you to actually take
out the product. But I I'm a procrastinator, and I was kind of using the fact that things were so crazy at work and with COVID as an excuse to just let this REFI opportunity slip by, because, like I said, we maybe be saving a point or whatever, but the raids just keep going down, and I'm like, damn, I know I got some free time. Maybe I should look into this. I know I'm not gonna lie. I'm like, wait, okay, wait, wait, do I sign now?
Do I wait? It's just honestly, if they do financial double, help me love it. I know that's exactly what I'm feeling.
Like.
If they imagine if the ways were like two point five, that's like insane. That's basically like kiss some free money. Financial Double. We shall copyright A memoir by Mandy Woodroff, We shall see. I would honestly if it dropped out to like one, I would definitely.
By Nandy Woodriff financial double Dutch and on the stage is no, I'm kidding but not kidding. Did I just have a million dollar idea right now?
But it just stays double us. Especially Oh, I think she's gonna go in.
She's going it every and you know what people want to tell you, that's what That's what everyone's asking. The budget needs to for Tiffany. When do I jump? When do I get in there? It's it seems like everyone's winning the game of double Dutch, but when I jump in, I'm gonna get tangled up in the ropes. That's it's so fun and hard to hard to predict. But good question.
I'm glad I got this whole house situation done when I did and got out of the city for sure, for sure, because if I were buying or selling right now, I'm glad to hear that the markets. I think it's also a local story, but I'm glad to hear that things are relatively stable if you're still but also.
Too like it's not like stocks. People, don't you know, It's not like how it is with with stocks. Right, one day the stock you know, don't's gonna be down one hundred points, three hundred points. That's not how it is with the with with the housing market. It's not like, oh my gosh, my house was worth three hundred thousand,
now it's worth two hundred thousand in one day. That it tends to move more slowly, like when you know when in two thousand and eight, two thousand and nine, two thousand and nine was not when the housing market actually reached its bottom, it was like two thousand and ten eleven. So it tends to trail a year or
two behind. So as the economy, if the economy does poorly and crashes and burns and whatever, then you see the housing market comes after that, Like the decline of the housing market comes after that, because it just takes time for homes an't go up and down that quickly. So yeah, so like you know, basically we'll see I tell people I would I'm not I wouldn't not not get a home because I could take advantage of low interest, but I would just be really mindful about getting a
good deal. So I would hate for you to buy at the top of a market. There's no way to know if we're at the top of the market until the market has already passed. That's the bad part because I bought my home, my first home, at the top of the market. It was like at peak, and then it just declined from there. So I don't know. I feel like if you're gonna at the end of the day, if you're you have to actively be an investor with our with our finances, like really looking at our neighborhood,
or you know, our price is really growing up. Is this a solid neighborhood. Is this is a neighborhood that either like a Westfield where like the prices have stayed steady up down in between. Or is this like a neighborhood that has seen huge growth because maybe it's right outside of a major city and it's like, you know, people can't afford the major city anymore. Or is this
a neighborhood that's kind of tapped. You know, folks are saying like it's gonna be neighborhoods quite honestly, like New York that are going to like well, like like the city city, like you know, mid tad Manhattan where these huge you know, twenty million dollars thirty million dollars, like are people going to be buying those to live in a city where they're afraid? Quite honestly, so time will.
So am I allowed to put myself on the back for non touching my four oh one k because looking at my I love the balance chart where it shows you up and down how accounts done, and it's basickly there was a huge dip, but it's basically almost back. I think what was the most I was down over twenty five percent or something. Now at around like eight nine percent down, I'm good. I increased my contribution way back when, and I'm feeling good. I'm checking it because
I trust myself not to do anything. But it's just another example that when the market goes down, it has a way of bouncing back, especially in times like this. Yeah, so yeah, I feel okay at least in that regard. Now you, missy, you're doing a cash out refib right, and tell me again you're using the cash out part to invest in a property. Yes, we have for folks who were like, yeah refinancing.
Mm hm hm. So so yeah, we're gonna we bought a second property. You know, we bought it for ten thousand dollars. It's a total piece of junk. But we were going to completely tear down and put up a two family house. But honestly, the price of that, of what they would cost because of the utilities and all these other things like the prices, that was going to
cost more than what the house would be worth. I think it was like almost five hundred thousand dollars to tear it all down to move everything, because the we'd have to totally do a new foundation because we wanted to move the house back. But I was like five hundred thousand that two family houses in that area only go for not even four hundred thousand, so it's like, well,
that doesn't make sense. So we were like, well, what if we just build an existing two family on the actual house itself, And even that, the price just didn't
make sense. So we're like, you know, we're just gonna renovate the existing home, and so that renovation is going to be about one eighty and then homes one family home in that neighborhood for that size typically go for about two thirty, between two thirty to two fifty, So we like, you figure one eighty for the renovation and ten thousand dollars what we paid for, so that's one ninety we get back max to fifty. So there's some spread.
There's like a sixty thousand dollars spread. So we're just we're going to use the money for that because I could pay for you know, like I could, you know, my husband and we could pay for the house out of pocket. But you know, I felt like I really wanted to. I felt like the house that we're we're living in now, I'm not taking out all the money about maybe like sixty percent. I felt like it was kind of like a like money sitting in a bank
account that was going unused. So I really wanted to pull out like two fifty from this house, put you know, some of the money toward the other house, and honestly invest the rest. I wanted to because if the interest rate that we because our indust rate that we got was three point twenty five percent, you know, yeah, three
point two five percent, I know that. I mean we could almost put that money on not these days, but you could almost put that money, you know, a couple of years ago in a savings account and make more. So it was like, well, we would lose three point two five percent as far as our interest paying interest on them, the cash out component. But I know that if we invest that money, we can make more than
three point two five percent. So I'd rather pay a mortgage, a low mortgage, because we're still going to pay our insurance out of pocket, and we're still going to pay our taxes separately out of pocket because I want to be able to pay off the mortgage whenever I want to. So yeah, that's what we're doing. We're investing the money in real estate and in the market and to help Rush reach our ultimate financial freedom goals. So I feel
really comfortable. I think our mortgage is going to be like twelve hundred bucks a month, so I'm like it's more than that. We're more than comfortable enough to be able to pay that without having to worry, because obviously you don't want to take on new debt if you don't have to. But I just felt like this is one of those instances where the the the what is it? The ends just not the the ends justify the means.
Yeah, like you're going to have the return on it's worth the risk. Yes, yes, Oh that's fascinating. All right, Well, thanks for giving us the lowdown again. Should we get into some question missy please do let's say a quick break. We will be right back after this newe from our sponsor.
It's timeful questions that Little Diddy was for Alex because Alex said, Tiffany, I like your singing and although no, no, you're lying, you know I appreciate it. Don't encourage I mean encourage her.
We love your singing, we love your uterus, we love everything about the Tiffany I gotta I got an email with the subject line that just said uterus with like four exclamation exclamation.
I feel bad for that lady. Now, I mean kind of, but I'm like, I'm sure she's like, well, dang, I didn't mean all of that, but yeah, thank you guys.
Though.
Shout out to the listener who told us that she had a that you had her crying in her kitchen on your behalf because she too has had struggles with IVF and lots of messages from listeners saying that they support you. Jeff. We love you, your uterus and all your organs. Talk about them at length if you want to, if you want to, there's a financial angle.
We want to know why, you know and let's talk about gallbladers.
But in lieu of gallbladders, let's open up the mail bag. So I'm scrolling through our email, good old Gmail. If you guys want to leave us a question there, you can hit us up at Brand Ambition Podcast at gmail dot com. You can also go to our website brandambispodcast dot com, where you can click because anything, and also on the Gram. Yes, I am here answering your questions or at least looking at them on Instagram. We are
at Brown Ambition Podcast on the room. All righty, let's take one from Okay, this one has an interesting question. So Tiffany and I were just talking about Congress potentially releasing a second stimulus package. If you remember, oh so many weeks ago, the first stimulus bill included a twelve hundred dollars stimulus check twelve hundred or twenty four hundred dollars simulus check depending on your income and things like that, and it literally was just like here's some money in
your bank account. So here is a listener who wants to remain anonymous, and she has a question on the Gram about the next wave. She says, thank you guys for giving such beneficial information I've been able to renegotiate some high interest rates on credit cards, and I'm still working on getting down that credit card debt and building
on my savings using the snowball method. Since theor speculation there might be a second stimulus package coming out, I was wondering if you think it's wise to take a few hundred dollars if that second check is given and invest it while stocks are quote unquote on clearance. I was thinking of using an app like Acorns or robin Hood. Out of those types of apps, which would you recommend. I'm still learning about the market and educating myself. Thank you so much.
So.
She has some credit card debt she's still working to pay off, and she wants to know with the next check. Let's say she used the first check on her debt, I'm not sure is it okay to take a portion of that and invest in?
What's say you?
Miss?
I say that? Well, first thing. So it's funny because that friend of mine just called me and asked me today something similar. She's like, what should I do? I said, well, first and foremost, are you current on your bills? If you're late, get current? Do you have upcoming bills? But no income. If you do take care of that, then it sounds like you've negotiated some of your credit card interest rates down or you're in the process of still
credit card's even low. Like for me, like I've got perfect credit and I think, you know, humble b I you know, one of my interest rates is like ten percent or whatever, that's still double digits. So it actually would be more financially sound to use the money to pay down credit card debt that's have double digit interest rates, then to enter into the market and hope to get double digit to earn double digit interest rates. Does that make sense, anonymous, because if you were to say.
I don't know, if she's not here, it makes sense because you know, like for example, if she were to say, hey, I've got a student loan debt and it's five percent, and you know, I'm good on bills, I'm not behind.
I do have, you know, like the money that's coming in, it's you know, I'm okay with paying bills moving forward. Should I put and I do have some savings, because that's important too. Should I, you know, should I maybe enter into the market. I might say maybe. But also the fact that you're not fully knowledgeable about what to do in the market. Also makes me say wait, because I don't want you to enter in like as a novice investor with this money that you could really be using,
because here's the thing. You don't know necessarily how to invest, which is fair because sists all of us. But you do know how to pay off that debt, so it would just be more financially sound to do the thing that you do know, which is pay off high interest rate credit card debt.
I have nothing to add. I would just say, pay off the credit card debt. A few hundred dollars won't go very far even when stocks are on clearance, which is what that's like, the little jokey way I talk about what happens when the market goes down because things get cheaper, like stocks go down in value. So if you're looking to buy low, it's a good time if
you have the funds available. But girlfriend, if you have credit card debt, almost certainly it has double digit interest rate aprs and you need to pay that down asap. And let's say I don't know how much the next check would be. Look at me, look at me, ramble. Even though I said I'm nothing to add, I got something to add. Let's say the next check is twelve hundred dollars if it was this time around, So a
few hundred dollars leaves you a nine hundred. If you have that much credit card debt, I feel like you probably need some emergency savings, and I would put all that towards savings so that you don't find yourself back in debt, or at the very least use it to tackle some of that credit card debt. And good luck, because honestly, it is a form of investing in savings to pay off that debt. It's just like reverse investing. You have to look at it that way. Okay, I like that.
I must start using it.
Not entirely sure if it makes sense, but it sounded good, right.
No, No, it does because I was trying to figure out how to explain because people are like, I don't get what. How was paying down debt really making me any money? It's literally like reverse investing that you know you're trying to on here, but you actually would earn less by losing less on this side. So reverse investing reverse investing.
The second memoir by Mandy Woodruff, author of Financial double Munch. All right, sorry, thank you very much for your question, Anonymous. We are going to take one more. This one is from our email inbugs old school. Let me say if they want us to use their name, I'm just going to assume no. Let's call this person Ashley. Ashley has a car. H She has a car, which is good to know because the question is about her car. She has a question about whether she should sell or rent
out her car for extra income. All right, she says, my grandfather has gifted me has gently used twenty fifteen Mini Cooper. I love that her grandfather has a Mini Cooper that is adorable. About two months ago, it's paid off and in great shape. I currently have a twenty sixteen Honda Cord, which I'm still paying a car note on. I've always loved Hondas, and I know them to be extremely reliable. However, I reside in San Francisco and parking two cars would be a hassle, and I can't drive
two cars at once. Clearly, if I were to sell the Honda, i'd owe around four thousand dollars out of pocket due to being upside down on the loan. Upside down the loan just means that she owes more on the car than it's actually worth, which is a really bad situation to be in, and it's probably because you had a really high interest rate on your loan. Anyhow, I digress. She says, if I were to sell the Honda, I'd owe around four thousand dollars still, which I have
in my savings, so I could sell it with no issues. However, I've been considering renting out the Honda on sites like truro or get Around, which is like Airbnb for cars, which would allow me to bring an extra money to pay the car off quicker, and then once it's paid off, I could use whatever money I get monthly from those apps to put toward my savings extra income. I do know it's risky to rent on sites like that, but I also like the idea of making side income, having
a backup. What do you guys think? This is an interesting question. So did she has a free car and she got another car that she owes some money on.
She want to put that car to work?
Honey, she does, But I'm wondering, if she has the four grand in savings, why not just pay off the Honda. But this is before she got a free car. But her reality is that she has a free car. She got two cars, and she wants to get rid of one. I yeah, I feel as someone who doesn't like the hassle of things like renting out cars. I've heard of
that site Touro and get Around. I've never used them personally, so I don't know about the upfront costs, if there's any like fees you have to pay or anything like that you would have to I do know they're kind of popular on the West Coast, more so I think on the East than on the East Coast, or at least in New York City where we don't drive as much.
I would definitely ask around if you have friends who use it, and do the math to see if it would make financial sense to keep paying your car note on a car that you're underwater on and then get income. How consistent would it be? I mean, no one's really using their cars right now.
Right I was about to say, I was gonna say.
Sorry, I just was on a own and it was like just lots of people out of my mouth.
No, I was really gonna say quarantine, quarantine, so like literally I wrote it. I read an article today that hurts is filing bankruptcy because Hurts, one of the largest car rental you know companies in the country. Is like, ain't nobody writing cars? If ain't nobody writ in cars from Hurts. My concern is that normally this might not be a bad idea, but I feel like it's literally the worst time. It's like, hum, my mom gave me a house, you know, you know, I inherited a house.
Should I airbnb it? It's like, uh, normally airbnb totally great question. But during times like this, we are living in abnormal times. So if it was me, if it was me, I probably would just sell the car because the likelihood of you probably making the money you maybe normally would in times like these. It also two, here's my concern too, Mandra, what do you think about, Like what if so here's the thing, her grandfather gifted her car, but well, I don't know how much is a car worth?
Because you can gift, give, and receive up to what ten thousand dollars without having to pay taxes as a gift.
Don't ask me to questions on the fly. I don't know, but it's something like that.
I'm almost yes, I'm almost positive because I remember looking at from my parents because I was like me and a superman. We're sending the money every every month, and I wanted to make sure I was going to keep under the tax threshold. It's between ten and twelve thousand, don't hold me. I definitely know that it's not under ten.
So I would just also be curious to know, you know, being mindful of the tax burden of receiving that car if it's over worth over ten or twelve thousand dollars and two likely not being able to rent it out profitably during times like now, I honestly probably just sell it and put it toward my savings and paying off the other car.
Sell the Mini Cooper and then use that those proceeds to pay off the Honda. Or it would depend on which one's worth more. Yes, maybe the Mini Cooper even though it's a year older. What a funny looking car. But then like worth's more to who in a world where people aren't driving, I don't know how much would you be able to get for that? Would you sell it yourself as a private party seller or would you sell it through you know, sell it to a dealership. Can you even do that? I don't know.
I know these days. So they're trying to give it a car. They said it like because I was even honestly, now it's a great time if you are in the hunt for a car, especially what especially a used car, because literally normally Hurts Avis all these places they sell their their fleet to use car dealers, and now they're trying it, especially Hurts in particular. It's actually trying to raise funds to stay afloat because they filed I believe chapter eleven, which is the not the bankruptcy then where
you're just like, we're done, we're closing up. Stop. It's the yes. And so one of the things you're trying to like, you know, raise funds is they're selling these cars. According to this article, I can't remember where I was reading it, they're selling these cars directly to so you can like go on Hurts and see, like, you know, can I buy a car directly from Hurts at a really great price? So cutting out the middle makes me interesting exactly, so they can, you know, so they can
make money to stay alive. So that would just be my concern. Honestly, I probably try to sell it. Do your best, and I don't know that i'd want the hassle also to having someone in my car, the Rona and all these other things and meeting up for folks. So yeah, that's what I was doing, honey.
It took me a while to get to the place that you were landed out immediately, but I got there. It's definitely not a good time to be renting out your car as a as a source of income. And yeah, to Tiffany's point about buying a car, I do know because we've reported on this, dealerships are scaring, like really wanting to people to buy cars right now. Obviously people are not wanting to buy cars because who needs a car these days when you're going literally nowhere.
And I'm not saying go out there and buy.
Like the twenty twenty one is not even released yet, the twenty twenty model of whatever car. I mean, I think you should still do it responsibly, don't take out a big car loan like try and get something. It's amazing, it's a great idea to do what Tiffany said. That's how we got our cars certified pre owned car that used to be a rental that the rental company sold to a dealership and we got it through them and it had, you know, a warranty and all that kind
of stuff. Just shop smartly and wisely. But if you have good credit, got a nice amount for healthy down payment. Yeah that it's a buyer's market for cars for sure. But yeah, thank you so much for your question. Hopefully that was helpful to you. And thank you for an interesting Yeah, an interesting question on that.
Yeah, that was a good And shout out to your grandpa with the Mini Cooper I know, so cute. All right, thank you guys for your questions. Again.
You can hit us up Brandambis Podcast at gmail dot com dot com or on Instagram. You can find us Brand Ambition Podcast on the Gram.
And now it's time for Boost to break. All right, children gather around, It's time to booze. It's time to break, Mandy. Which well will you take? Will you boost? You break? Will you boost? I'm mad? I'm literally like souldiers popping, like shimming like as if I'm like, honestly, yeah, anyway, you're gonna boost a break.
Girl. I'm gonna take a break because a girl well not really well she's a girlfriend. But our resident editorial assistant on our team at lending Tree this weekend rolled her ankle while she was out jogging trying to live her best life in quarantine, and she fractured her a little ankle bone. It's the most adorable little fracture you ever saw in your life, but I'm sure it hurts like hell. She dragged herself to a primary or not
a primary care, what do you call it? Urgent care on Friday to you know, get it, get it looked at. She wasn't sure if it was a break or not. It was a break, but then she of course couldn't see an orthopedic specialist until Monday. And when she did, she went today. Rights, No, today's Tuesday. Monday was a holiday. Yes, so she went today, and I'm going to take a break on her behalf for just the shadiness of the healthcare system and some doctor's offices. Because they they were
trying to upsell her on this boot. They were like, you need to buy this boot from us. It's two hundred dollars, okay, like like you know the boots that you can wear like on your foot. And I said, well, could you use your FSA dollars and she said no. They said that it wasn't FSA eligible And they said that my insurance wouldn't cover the boot, so she paid out a pocket for this boot. And then I was like,
look on Amazon dot com. I'm sure you could have bought that boot yourself hobbled on home and she's like, yeah, they were fifty dollars on Amazon. Oh, and I'm pretty sure they are safe eligible. And I just was like, she was like, damn it, they got me and I and she felt bad, and I'm like, it's not your fault.
That is so twisted and busted like this, Like it shouldn't be that hard to figure out that you can save a lot of money on damn you know, regular ass boot that anyone can get on the interwebs themselves. So I just feel like she was taking advantage of a little bit in her time of need. So yeah, shout out not shout out a.
Break for horror.
Oh I just realized. I just realized she broke. She had a break, and I'm taking a break about.
Oh break very meta as its very meta. It is so hot in this room, I'm losing my mind. I need to get out of your I do it.
For you guys in the audio quality okay, no AC anyway, So a break for her, please heal well, Miss Cameron. And then if you if you are, obviously, if it's a non emergency situation and the doctor's trying to sell you some kind of equipment or like ace bandage or whatever, just do your You can even google it really quick. Even just go to like FSA store dot com and
anything on that website. You know it's FSA eligible and see if you can get it from there because you can probably save money versus trying to buy it from the doctor's office and nothing.
Smarty, ady you are, I'm gonna do a boosy breakye, but we're light. Just keep it cute. So my breaky is going to be my niece. Oh my god, when did I turn old? Yo? My knees her every day now, I'm like, what's this light? But you didn't break I know exactly. I've been taking daily walks and walking up to an hour and I'm like, wait, so I've been stretching a lot. Anybody has any joint something. I just feel like I've been trying to get my regular exercise in.
I am stretching, I'm doing yoga every morning and I just I tell you, like, walking up the stairs are like literally I'm like, is this life? Is this the life I'm gonna live? I just can't take it anymore.
So Dad would tell you to get the green alcohol from the bottom shelf, but this at the pharmacy if they even still sell this, and you know it's a larger public. Get the green alcohol, the menthol kind of rubbing on there. That'll cure you. It'll cure all evils, the green alcohol.
That of ginger ale. Right, yes, so yeah, so I just you know, but honestly, if there's some things that I need to be taking because I'm just like I keep saying like, oh it's gonna get better, it's not getting better, and stop walking so much. Yeah, But the thing is, I'm not even like I'm not power walking. I'm not like, you know, like I'm just literally like taking a stroll. I'm like, geez, is this life? Anyway? That's the break. And then the Booze so Own came on.
You know my my date you on Own with them with I totally forgot. I was so nervous, and so I just want to really boost my family and friends because they did like a like a prop to live where they not live. But they all watched on Zoom like the team watched, the team, the Unicorn Squad, the Buddanista and Literature Academy team. They they watched on Zoom together. My dad and my mom watched together, which is so cute, and then my friends watched all on Zoom together. So
it was just really nice. I was honestly super nervous because when I taped it with Ayanla, I taped it here and I guess she's in California, and I was really I was so nervous. I didn't even remember what I said. You know, sometimes they're like, oh, well, let me review. In my mind, I was like, I honestly have no idea what I said. So we were all watching together, like lessie what Tiffany said. But I gave
myself a solid A minus. I always grade myself and that's pretty high on my scale because I never give myself good grades. But I was like, Tiffany, that was a solid A minus. I'm proud of you girl.
I'm I'm so sorry I forgot all about and I get and I told Siri to remind me.
It's her fault. But I think I had the own app and so you're able to watch it like there I'm assuming if it's on the own app then it should be. But also too if you just want to catch some clips, like if you go to own YouTube channel, they have like clips. But yeah, I was, like I said, I was really. I was proud of myself for getting through it despite the nerves, and it looked good. I
was like, oh my gosh, look it's happening. And it made me realize, like I finally bought some acoustic foam stuff for the office because I didn't realize how echoey.
If you're sweating, you're not growing. The Third Memoir by Mandy Woodruff on bookshelves.
So I bought some hopefully so the next time we tape it should sound even more. I mean, I don't know what the word is. What's the opposite word of echo, but let's yes, less bouncy. So yeah. So I was like, oh, own debut so hopefully fingers crossed it means goodan.
Yeah, yeah, well congrats Dan, I'm sure you did amazing. I will confirm that as soon as I watch it. I'm very sorry for forgetting.
No, I'm just I anytime.
No, it's seriously, something that scares the crap out of you is always a good thing in the end, even though it's really scary, and I know that you're doing a lot of your publicity in house now and you're killing it and look at you go and congrats, this is awesome.
Thank you, You're welcome, and thank you guys for continuing to listen.
My gosh, I'm like, yes, don't remind us how long we've been doing the show, because sometimes I'm like, really, we're still doing it. Yes, it's just this habit, and
you guys are still listening, still tuning in. And despite my fears about people dropping off because they're not commuting and you know, we don't know where you guys typically listen, apparently a lot of you guys just listen sitting around the house, and like one Instagram user said, we were helping her get through the last hour and fifteen minutes of her work from home situation. So shout out to you and thank you guys so much for continuing.
To support the show. Yes, thank you.
If you want to show some love and you're a new listener or new enough to have not left a review on iTunes yet, please go to your phone right now, turn it over, go to the review. Please leave us a five star review or however many stars you you know, think this experience is.
Worth a five star.
Give the five star please, because this helps other people find the show and it's the reason we're still alive and kicking. So thank you, guys, think you think you?
Thank you? Yes, thank you? Oh and thank you Mandy for those cute pictures of real I was like, Yo, Rio is giving me all the life months old. He's really fucking cute. I can't even know he is.
I'm gonna start tagging some labels on his Instagram ads he is selling these outfits.
Oh yeah, you should. Honestly, Mandy, you really should, because I feel like I knew a kid that paid for his own college college fund for like the first five years of life because he was super cute and so you know, he just used to model until he was like, I don't know, six or seven, and then you know his mom was like, hey, I'm good, but she put all that money up and paid for college. Know what.
Honestly, me and my husband went through a real, real awkward phase from ages six to thirteen. So I feel like I only have a limited time, Like, if this kid takes after us, he's only going to be cute for like another five years, so I need to like really capitalize. I need to capitalize because he's going to look a little wrecked. He's gonna look a little busted, which is fine. It builds character. It's why I am the way I am.
It's all fine, and it brings it, brings it, bring him.
And keep him humble.
You know.
I hope he has those ugly duckling years. But in the meantime, you're right, I'm going to I need to figure out how does it work in the Instagram age? How do you make money off your child in a way that's not creepy.
Yeah? No, I just I would just start tagging brands and then you never know they might reach out to be like baby super cute, my goodness, And yeah, I would start.
But he's going to be so mad. He hates whenever I but he's like, please don't put our baby on the internet.
Oh I know everybody.
I know.
My sister's always like if you put my child on One time I had my niece talk about when I tell her, I was like, Amelia, say get your credit together, just like gick your credit get y'all. Meanwhile, my sister's sitting there. I hear her go through Instagram and she's watching it and she realized, like I just taped it. She's like, did you just put my child on? I was like, that was the last time. I was like, I think I need to pay. I got talking too, so I'm not allowed anymore. Yeah.
Well anyway, well thank you. He turned six months today. Happy birthday, Rio. Hope you guys had a good long weekend, and thank you again for listening.
We will really don't