¶ Intro / Opening
Ho Mary, Brown Ambition Christmas or whatever you celebrate, But we've got a present.
For you listeners.
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This deal won't last forever, or will it? Because maybe I'll forget to stop it. I don't know. Go to Brownambissionstore dot com. Y'all happy happy holidays. Hey Hey, Hey we're back, We're black, We're ambitionous. Hey man, Hey, happy December.
I know, even though because of global warming in the East Coast it does not feel like December.
I mean it's getting there, but I'm good with it. This actually reminds me of Georgia. Just smidy and mild, and you know, cold enough for a nice sweater. Yeah, I appreciate it. I finally got all my decorating done outside, I feel I guess I feel better it just I think I've inherited this urge from my mother to just Christmas by everything. So I really did the most. I really really did shout out to target.
I think works on the outside, but I will say my inside is nauseatingly Christmas.
My sister was like, oh, I'll recond every door.
Oh, I do this little dingle gully things on every door, knock downstairs, every single one, so much so that my nephew Rooman was like, Auntie, you forgot you.
Forgot this one. I was like, oh, thanks, baby, here put that one on that one.
Wait. So so when Superman comes in to interrupt you, we're gonna hear jingle.
Yeah, okay, Well I'm on the second floor, so I didn't do the second floor, but just like that first floor is Christmas out because I feel like, especially since the kids come of all the time and Supergirl, it's the kind of thing you remember, even though she always makes fun of me.
Like, wow, it's very Christmas sy in here.
Oh lord, that's the opposite. Because I decided nothing on the inside because we can't have anything nice anymore. You've officially hit the we've officially. I mean, I am just I had all these I tried not to be so naive, but I did. I was like, you know, we're not gonna let our house be taken over by toys and kids stuff. And I'm still gonna keep my cute little you know, my interior design, keep my keep my couch nice,
keep my pillows nice. I officially gave up, took everything off the bottom three shelves of all the bookcases, and nothing on the coffee table. And all I have inside is I do have the stockings because they're high enough to where you can't get at them the baby. And then I did the most on the outside. So that's funny. You're like an inside out version.
I know, what's you go to?
Holiday decors? Like shopping destination?
I actually really liked. There was this place called where did I go? It was I don't remember the name of it, but like literally when you went in, Oh, what is that place called? There's this place in Jersey? But is it actually called the Christmas Tree? It might be called Chris Tree Shops. Yes, I think so that's a chain. It's like the Halloween store that pops us.
But yes, I went to one of those two I did here in our area. I got some cute stuff because like because I'm due, I did the outside and they had these pre lit gifts, pre lit gifts like little you know, like for under the tree that I put outside in my front yard.
Yes, you got this, yes, but.
You put them inside, yes, And I don't like that I put them right next to the I know, honestly.
You need to share pictures. I need to see what because I put them on the outside. But but they were like thirty bucks for a set of three there and on Target dot Com I'm not even kidding, they were over one hundred dollars for three boxes.
I was like the who Yeah, no, I can't talk to them. Last year, I think. Thank Here's the thing. Last year I did the most dot com because you know, it was our first Christmas in the new house, and so there was just so much stuff that I didn't even get a chance to put out. And I was glad because I honestly didn't feel like going to the different shops and things, so it was nice to just have all my taxi stuff already in the hassa.
Yeah, tacky, I love it.
I am just me too. Jealous.
I can't wait till next year. I mean, hopefully the baby is like, you know, not so grabby next year. Does that Does that get better? I don't know. Don't tell me, but it's uh, yeah. I did do some shopping. You're right. When I went to the Christmas tree shops in person, I just like had to escape the house and I had my mask on, but it felt uncomfortable. It was too many people in there, and I quickly got what I wanted and then I got out of there.
But I also have heard and I've experienced there's like a shortage of Christmas stuff this year. You know, I don't think I waited till that last of a minute, Like I think I went shopping before Thanksgiving, and home goods didn't really have much target, Like a lot of stuff was bare. And I guess part of the issue is retailers didn't expect such a huge interest in holiday stuff, I guess, and they I don't know. There's been like
delays and inventory and things like that. But on top of that, it seems like the opposite happened, and everybody decided to like go all out for Christmas and decorate really early this year. So if you're looking at might be slim pickens out there.
Yeah, no, I think so, I think. I mean that's why. I honest, there's so many things.
That like I got ahead of time, like even like my exercise equipment, and I got that for myself last year in December, and then when quarantine and stuff hit, I was like, oh my goodness, thank goodness I did. So the thing that it taught me was like not to wait on certain things. Not I mean, obviously you don't want to be tricking up all your money, but if there's something that you're really wanting and if it's within your budget, not to wait because there's no guarantee you'll have access later.
So you know, yeah, that's right.
You can't even get like weights anymore.
Yeah.
I had heard that, like exercise equipment is still in hot, in high demand.
Because people are anticipating getting kind of like quarantined again. So I was just like, I'm just so glad because literally what I asked for for Christmas from everyone, I was like, can you give me exercise stuff?
Like I yoga mad and I got weight.
I got all these things, and I was just like people were like, you can't even get a treadmill. I just got a treadmill in December, so it was just I was just really fortunate and it just taught me.
To be like Tippany got the good.
Sit there looking at me, like girl, it does.
I'm like what, and uh, whereabouts in the house do you keep this equipment? For anyone who's curious, I have it.
In my cave. I was like, it's yours, but we just share it.
You know, this is my zen den is in progress. I did a lot of cleanup and I am starting on. You know, I'm going to start really investing more time in making the zen den nice. And you know, husband's got his little zone, he's got his little area, but mama needs some space and I'm going to get it. It's going to be really nice. It's going to be like part office, part workout, part like read a book on a comfy chair, you know, escape from me.
No, that sounds awesome.
Honestly, I was proud of myself this past week because like off and on, like my shoulder has been like hurting because I just assume cause I've been just you know, you work more and I'm like, I'm right, I'm right hand and it's my right shoulder. So I gone to the doctor for which I was proud of myself. This is like some months back, and remember that time, like I got pulled everything.
I was like, many everything it's pulled about back. But then when we were first oh, then I was like, oh my god, everything is gone.
And then everything, like you know, within like a week or so, felt better and cleared up. But then this I just had this like shoulder like it just didn't feel right. And I was like, oh, maybe because I'm sleeping on my side too much. So I went to a physical therapy for like maybe just a few weeks and then I'm like I'm too busy for this. And
then recently it really just started like hurting again. And then I was reading this book called Contagious I think I shared with you guys last week or no, maybe the Catalyst by Jonah Berger. Anyway, he said that people that sometimes it's actually worse to It was so weird, so I'm.
Like, is this is this God talking?
Because he said it sometimes it's actually worse to sprain your your your shoulder than it is or to sprain your arm than it is to break your arm.
And I was like wait, cause.
He was trying to explain how people don't change when something is mild. That like, when you sprain your arm, you're like, you're more likely to deal with it. You're like, oh, you know, the barrier to change. It's like, it's not that bad. I can live with it, it'll go away. But if you break your arm, it's you can't live with a broken arm. You go to the doctor, you
get your treatment. And I just was thinking that to myself that oftentimes having a sprained arm actually has bigger and long lasting more and more of like a larger and long lasting effect than a broken arm. And I thought, wow, that is what I'm doing. I'm like, it's not so bad, it's just it hurts just a little, not all the time. So I made it my priority. I want to physical therapy because you could do walk in for up to a month with my insurance. You don't have to get
like a doctor's like you know script. I was a physical therapy and she was like yes, she's like, honestly, Tiffany, it's just wear and tear. Basically, you sleep on your side for like the last you know, forty one years. And she's like, then, you know, you work a lot in a computer also too. I played tennis from second grade all throughout college, you know, and I'm right handed.
So she was just like, it's wear and tear.
But the thing is like, if you didn't come men, and you didn't kind of like retrain the other muscles around whatever, like the muscle in my shoulder that's been weakened or whatever, then it could be permanent damage. So I was just really glad that I want and I encourage you if you're like I need a sign.
This is it.
Like if there's that little niggling ache, that little like, well I can no go get a checked out, honestly because something that could be so mild at first that if you would have taken care of it. And like, because she said there's probably six weeks of six weeks of therapy three days a week, which is a big commitment, or you could just not use the arm in two years, I was like, you.
Know what, I want to use my arm. I'll keep it.
Thanks, I'll keep there no scrus. You're right, and I think a lot of well, first of all, I do feel like women, it's so much easier for us to put ourselves last when it comes to healthcare appointments. I mean, my son has been to the doctor, like I feels like one hundred million times this year, and I haven't been since I had him. I was like, well, I mean everything was fine when he was born, so I guess I'm still fine. I do, yeah, I need to
do like a check up and stuff. And I think with like COVID times in the pandemic, it's also easier to put that stuff off because you say, well, it's not really safe to be out, but it's almost to this at this point. The virus is a risk, yes, but there's so many other ways to die, Like there's also still a lot of other things that could be wrong, so getting yourself checked out is important. So thanks for
that reminder. TIF. I'm gonna I thought I did pretty good because I you know, got my prescription renewed for my glasses, so everyone's always where my glasses are from. I'm about to get some new one.
Yeah, and I start my start my like coaching on on Friday, so I'm excited about that. I was like, you know, I feel like I want to lean into it. Like i feel like I'm in a new season of self care, you know, like.
A new season of self care.
Yeah, because I'm always like can I always tell myself like, well, Tiffany, you work on yourself a lot. I'm like, no, you work on your business, you know, woman, Tiffany, don't get it confused. And so I was like, this is true, Like am I really taking care of myself? Like I'm walking like more because I really enjoy walking, listening to like podcasts and books for the enjoyment of it, and so like I, you know, it's easy to pour into the budgetista, but I have not been pouring into Tiffany.
And I'm just really like, I don't want to look up and be like, girl, you have not like you know, what do you do that you enjoy for you? And are you taking care of yourself? I'm still young, and I don't want to, like, you know, I want to because I look at my father. For example, He's seventy seven. He still plays tennis three times a week. I mean when outside was open. He's still really active. And that's
he's always prioritized things that he's enjoyed, you know. And I and as a result, because he never stopped moving, he can continue to move, you know. And so I just thought about that like, huh, I want to be seventy seven like Daddy and continue to like enjoy life and and you know, and exercise and like he's just
always been like that. So I'm just like, yeah, Like, if, like I said, if you're looking for a sign to enter into your your your stage of self care, whatever that looks it's like, then do so totally deserve it.
Yes, do it. Do it.
One of one of the best things I did this year for my body, other than get the peloton, which really has been so amazing, it's gonna it's get a proper desk chair. And I know we have got some listeners out there who are sitting in there, like, you know, taking the dining room chair, the trip that used to do their makeup in, or like the holding chair. Yeah, because you're the lawn chair. You're like, have a little hap you know, you have your little cobble together workstation.
It's been a long time and if you're if you're lucky enough to work from home, you know, we're all so fortunate if we can still work from home and be safe. But get yourself a proper desk chair, because when I tell you Wayfair dot Com, I got the most I got this really great chair and it has changed up or I'm like, I forgot what it feels like. My butt feels amazing, it doesn't like go numb. After
an hour, got lumbar support. It took me so long, and I wish I had done this sooner because my back and all the eggs and stuff, even my legs would be tired. So that's something small if you're looking for like a Christmas gift. I don't think a good dust chair would would ever be a bad thing to get for yourself or ask a loved one to get you tifty. Did you say that you don't have a hat.
I mean I have a chair that I mean it is a desk chair technically, and it's really cute, but I suspect exactly. So one thing that my my physical therapist said, uh, doctor Lewis, He said, I got one of those, one of those like it looks like a like a like a cylinder, like a cylinder.
Pillow, have to get wet a lumbar support.
Yeah, so I'm actually I have a nag right now. And he said it's to remind you to like, you know, sit up, and I have some exercises to do at home in between my in between my appointments, and so I'm sitting with it right now and I can feel the difference it is. He's like, it's a reminder to kind of like sit back. So because I've got a
really terrible posture. I started slouching when I started to grow tall, and I was like, because I did and want, you know, to be tall, and so like he's just like, you know, So I ordered it as soon as I got home because he sent me like, you know what to get?
So yeah, no, you're right. I said that at too.
I was like, I want to possibly switch out this chair, maybe find one because I'm gonna be in the chair a lot, or you know what I really want, Because didn't you used to have to say when you worked at Yahoo you had a standing desk?
Did you have a standing desk?
Yeah, I've always had a standing desk. We had one at my old office. Got I haven't been there forever.
Yeah.
Standing desks are actually really easy to come by now. You can get one for not that much on Amazon or Wayfair or any of those sites. And if you don't want like a full on standing desk, which you know you have to like plug it into an outlet
and it goes up and down with a button. I've seen you can also get these little kind of like a breakfast in bedtray, but it's for your laptop and it goes up and down and you can put it on your desk like or on your kitchen counter or whatever, and you can put you just put that up and down versus having to move a whole desk. Those have worked for people.
Yeah, I think I was going to get one of those two because actually, you know, just to have like a different like you know exactly.
So, I mean obviously, sitting all day is never a good no matter how comfortable your chair is, you don't want to be sitting all day. But yeah, I don't know, I can't believe we haven't talked about before, but yeah, getting like an ergonomic setup, oh it means, it sounds, it sounds luxurious. And hey, ask your company if they will reimburse you if you work for a company. I know our company reimbursed up to five hundred dollars for work at home supplies, and it still took me months
until I order mine. I was like, oh, it's going to expire December. First, let me let me get that chair. But yeah, just see, you know, you never know what benefits you might be leaving on the table, and it makes, like I said, a big difference. What else can we tell the people eat your spinach?
No, but definitely like look into you because you're right fsay it. Like I this is always the time of year that my husband because he wears glasses even though he doesn't work. I'm like, you should definitely, you know, you want to make sure that if you have money, that you're not leaving and money kind of like on the table and lean in and use it because it's your Especially with with HSA, you don't lose it, but with FSA, if you don't use it, you lose it.
You do sometimes it will roll over to the next quarter, but double check. F s A store dot com is one of my favorites because everything there, but even like CBS and Walgreens, they all label stuff FSA approved or FSA eligible. Just don't do what I did and stock
up on baby sunscreen. Listen, a baby is very small, they don't need the sunscreen and that stuff expires, so look at these dates, like damn, I think I might have put it on him, Like twice yo, that is to be in the sun like that, So why do they even sell it?
Like, well, if your baby lives in zimbopers but if not, you might not need all the sunscreen.
Oh they don't.
Got that much skin.
I know.
I'm like trying to lather it on him, like he really doesn't. But you're gonna use the subscridhal He's fine, He's fine, It's fine.
Yeah. No, But that's a good end of your nearing the end of the year, and I think now it's like really just a good time to kind of like take stock and prepare. I mean, I would This is what I encourage people who had like a hard financial time, you know this year, is to ask yourself, like, if you could go back to December twenty twenty nineteen, and if you knew like, oh my gosh, twenty twenty it's going to be kind of a rough financial year, what
would you have done differently? And to start to start to like employ those things now because one of the things I you know, after the first recesion basically took me all the way out. I remember once I as I was rebuilding my life, I was like, Okay, if another recession comes cause it's going to what do.
You wish you would have done differently?
And I started to slowly but sure because I didn't have any money really to start at first. But I started to slowly but surely do those things like build my emergency you know account, Know what my noodle budget is and that's your if you had to eat ramen noodle's budget, your bear bones basic budget, like, know what that number is the monthly cost of my beer bones expenses, And slowly but surely to employ those things so next
time around, I wouldn't be caught not ready. And so this this recession or just really these times you know, although they were I mean, they weren't rough for me, thankfully, but even if I didn't have the successful businesses, the truth is I'm a It turned me into a saver the two you know, the two thousand and eight recession, and I would have been a saver, like regardless of whether it's budget these jing because I was like, ah, I don't ever want to be caught, you know, not ready.
So that's what I just encourage folks to kind of take stock and to figure out what you can do to work into the new year to be prepared for the to be prepared just in case something should happen again.
Isn't it so hard to do the right thing around the holidays? Though it just seems like it's one thing to fall on hard times in March, it's another thing to still be on hard times when the holidays roll around and you have kids. And my heart goes out to parents because I know that you want to give
your kids a Christmas of their dreams. And uh, it's and and even just like looking at I opened up like the weekly flyer, which I don't ever do, but anyway, I opened up Targets flyer and the first ten pages are toys, toys, toys, and it's so and another sign.
I was on a call earlier with our our content team at lending Tree, and I think our personal loans team was celebrating because our holiday personal loan, our holiday debt loan article page is getting five hundred percent growth in traffic, five hundred percent, And to me, that's like, yay, our article is really good about how to handle, you know, borrowing money for holiday spending. But also like please, dear God,
think before you take out debt. I mean, yes, it's better to take out like a personal loan than it could be better, I should say, depending on the rate that you get than using a you know, a double digit interest credit card. But it just I just to work and listen my mom. I'll never forget the Christmas after my parents got divorced and my mom couldn't afford anything, and like her coworkers, you know, got together and got us a bunch of little gifts and like little Crayola sets.
She really leaned on her tribe, her community, you know, community and friends and family for help. And I know that there's families out there struggling with with with kids, and you want to do everything for them. But as much as you can try to like readjust your own expectations and and be okay with a thinner Christmas holiday season, just it's okay. You don't feel And I'm saying this as a parent, and I just know I literally was on a ladder by myself in thirty two degree weather
putting up lights for my baby. Like I know, you want to do everything for them. I just I'm worried, and I just I want people to to to settle in and be okay with where they're at right now
financially and keep your eye on the long game. Keep your eye on just the unwrapping a gift that'll entertain them for a little while or you know, for a couple of hours, honestly, and think about you know, really, like Tiffany said, taking stock and thinking about the future and the long game, because that's that's what's important ultimately.
Okay, well are you are you ready for my favorite part of this show? Yeah?
I think we covered everything. Do your exercise, health, eat your spine, don't take out tons of debt for your holidays. You're welcome, guys. Yeah, let's let's take a quick break and we'll be right back with your questions.
And we're black, I mean back, but we are black.
Yeah.
I love that joke.
Equally true.
What are our questions?
I'm just gonna make a SoundBite of that and play it back for giggles. I love that joke. That's a good joke. Tip. All Right, thank y'all for your questions. If you have questions, we are always open. You can hit us up Brand Ambition Podcast on the Gram or Brand Ambition Podcast at gmail dot com. Pa Let's see, so this listener on the Gram she would like to be referred to as Maya, but she has a question about some debt. Maya says, I've been listening to the
¶ How do I get better odds of getting a balance transfer credit card that will cover the full amount of my debt?
podcast like Clockwork for the last year or so. You two are my older cousins in my head that forever dropped the financial gems I need to adhere to. As a millennial who has racked up a good amount of debt from primarily credit cards, I'm seeking some advice. Unfortunately, for years, my credit cards have been my emergency fund when unforeseen events happen. Currently, I have just under ten
thousand dollars that I've narrowed down to one card. My question is I want advice on how do I get better odds of getting a balance transfer credit card that would cover the entire ten thousand dollars balance. I've used balanced transfer offers previously and they're great, but the issue is they never cover the full amount. I am not in a position where I want to create another bill paying two cards. Are there any tips to getting a card that will cover the full ten k so I
can take my financial freedom back? Thank you, myya, Maya the Bee.
You too young, But there used to be this cartoon on Nickelodeon called Maya the Bee who remembers. Please tell me I'm not the only one. I used to love that show. That's what my remind would be of. But ugh, Maya, I think you are lamenting on what all of us laments on, because you're like, it's it's like spitting the it's not real fortune.
What was that game show?
It's like through with It was like the old guy who you would spin the wheel and it was like big money, big money.
Big money.
Right, yes, yes, So the only way that I have seen is really the more your income is because you have to like self report, then you know, then you have a better chance of getting a higher balance for your balance transfer card, a higher limit for your balance transfer card. But it sucks because you could ask ahead of time, they're not going to tell you because I tried that. So the better your your credit score and the more your income is, then the more likely you are.
But I'm not gonna lie. I've done a couple of balance transfers. I've never gotten ten thousand, not that it's impossible, and that was some years ago. So maybe my income wasn't high enough. But yeah, there's no I mean maybe Mandy, you know you know better, but I haven't found a magic sauce other than better, better credit score and a higher income to report.
Yeah, there really isn't one. And it's like Tiffany says, you're not going to find out how much you get approve for until you apply and see, so that's the unfortunate thing about you know, balance transfer credit cards. I would say, you know, worst case scenario if you apply and you're able to get I mean, it does sound like if you've been qualifying for a balance transfer offers, your credit score in spite of your debt is probably
fairly good. You typically need a pretty good credit score to qualify for those zero percent interest balance transfer offers. But let's say you know, you apply for another zero percent intro balance credit card and it covers five thousand dollars and you really want to get that debt paid off. I mean, you could try to go to a credit union or an online lender, and if your credit score is really good, you know, see about a personal loan,
like a debt consolidation loan. Obviously you'll pay some interest on that, but it could be a lot less than what you're paying on your credit card debt, and you know,
give you some relief. But I definitely feel like the symptom this is a symptom of the you know, the reliance on debt, and it sounds like you you know, you're aware of that problem, but I really just I hope whatever you do, you keep on the path toward paying that down and definitely staying on top of the intro periods on those balance transfers so you don't get caught with my least favorite deferred interest getting tacked onto it if you aren't able to pay it off before
that intro period's over exactly.
So, I mean, I know it doesn't sound because I definitely remember the first time I was.
Like, I was like, broh, wait, what how much?
What I've never done what my husband has? And I think we did. I think you got like five thousand. But it's you knows, the balance transfers ultimately for their benefit because they're getting you to spend money on their credit card instead of your existing banks credit card. They're not trying to you know, it's a fine balance they
have to. They definitely like the fact that people are in debt enough to want to switch to their you know, intro period credit card, but they kind of want you to stay in debt too, so it doesn't quite behoove them to, you know, give you everything you need to pay off your debt. But that's a good question though. In good luck on your debt payoff journey, it sounds like you've made a lot of good progress and you're gonna say, yeah, major kudos, my friend. You're on your way.
All right, Let's take another question. This one comes also from the GRAM and she would like to remain Oh, she or he would like to remain anonymous. All right, She says, I have friend recently put me onto your podcast,
¶ I have 40,000 dollars in savings and I'm not sure what to do with it. Is there a better place than my savings account?
and I'm thankful beyond measure to have access to your platform. I'm reaching out for any support you can offer. I'm seeking guidance with my savings account. I've managed to save close to forty thousand dollars and I just have no idea what to do with it. I already have a life insurance policy that I contribute to annually and a
four or three B through work. I initially began saving to have cash to put down on a home, but once the pandemic hit, I had to relocate, and home ownership is now on the back burner until personal things get on track. I guess my question is how can I capitalize on the money I've saved? Is there a better place to hold this much money other than my
Bank of America savans account. My goal is to have fifty thousand dollars and with my current budgeting plan, I should be able to get there by March, which is awesome. But then what question mark?
I'm gonna call them logan so that except for he or she? Right, sure, I feel like Logan is such a great like he she named? You know, doesn't matter.
Gender, New Trump all about it, right, Lolo?
First of all, BA, not black brand ambition, but Bank of America, I please run, meaning as far as like leaving your money and you're in a traditional I mean they're not giving much interest away. But I suspect that BA is literally they.
They were a piece because like we're BA.
B a b of ay. Let's do b a so b of a.
I bet you they're not even giving like a piece of a penny anyway. They're just giving a link pocket lint now, because you know they traditional banks tend to give like the worst interest pay pay, you know, as far as paid a to a savings account.
So at the very.
Least switch on over to an online on lead bank, Like, for example, if you go to magnified money dot com, that's like my favorite site to find online only banks and just type in, like you click on the savings button and you can see a bunch of them listed.
You're just gonna look for who's paying out the highest interest currently zero deposit required or like a dollar deposit required that you can keep like a dollar in order to earn the highest interest that they're paying out, and that they that it's given at least an A. I always look for an A because Magnified Money does a really great thing where they give them grades. But here's I mean, I know everybody's wanting to like put their money to work.
But you haven't.
She didn't really Well, Logan didn't share if they had emergency savings, right right, Mandy.
Well she does say that she I should say, I'm like getting my logan into trouble. Anyway, Logan said that they have a four H three B through work and they pay into a life insurance policy. I'm going to guess this forty K. They say that they put it aside to save up for a home. Let's assume that this is downpayment money. But also emergency savings.
That's when I got the vibe right then, like lol, I would say I would add, like, figure out what your noodle budget is, meaning like if your life costs you typically say five thousand bucks a month, but if you just pay for the essentials, it's three thousand bucks. Let's just pretend, so three thousand times six months is eighteen thousand dollars. So then eighteen thousand should just honestly just that's your first line of defense. It should just be saved.
That's it.
And then the other component is where you might want to if depending when do you need it. If you're like, oh, I might want to buy a house in two years, well maybe you don't want to put it into the market. But if you're like, you know what, I don't know what I'm going to want to buy a house, I don't mind leaving the money alone for three to five years, And you might want to look into slowly but surely putting money into an index fund so you can see if you'll get like a you know, a better return
than you would than savings. So I guess it all depends on like what her what Logan's goals are. If you know like if if you don't have emergent, I always say, start with emergency savings and then work from there.
What do you think, Mandra, Yeah, it kind of reminds me of a question we got last week. I forget the particulars, but I know at a certain point we were like, look when it comes to us, when it comes to savings that you want easily accessible, like you don't have to overthink it, just put it in a savings account. And you know, BAA is nothing special in
terms of big banks. Every big bank out there, you know your chases, your oh TD banks, You're I'm just any big bank, like they all the traditional brick and mortar banks typically give you really low to nothing rates on your savings, so you're not gonna make money on your savings and online only banks, like Tiffany said, yes, they often have much much higher yields on their savings accounts, but they're still like one percent maybe these days, like
less than one percent. They're not amazing. They're not like gonna make you, you know rich On rich On rich the way that you know you can really you know, you can really compound your returns, your return on investment through investing in the stock market. You just have to like adjust your expectations and remember what the money is in the savings account. For the money in your savings account. You know, the way that I approach it, it's not to
grow wealth. This is to protect what you have and protect yourself for the future, to protect yourself against debt, and to save for short term goals. So it sounds like what you have right now in savings is like, okay, some cushion for for protection, which is really important, and then also for a short ish term. You know, even though you're not going to buy a house now, like Tiffany said, you might want to get one of the
next one to two years. That to me is still a short enough timeline to say, you know, keep it in a bank account, and you know, if you want to switch it, definitely, you know you could. I don't know what the math is like if you if you, you know, switch that, put that forty K into a high interest account. You'll certainly earn some money on that money. And like, who wants to not do that? If you have the option, so do that. But then you know, you just don't, don't don't don't expect more out of
your savings account than what it's meant for. And when you're ready to, you know, upgrade to a brokerage account and just go ahead and invest in the stock market. Excuse me. You have to sort of start from Okay, what are my goals and in which order? So emergency fund, tick, down payment for a house tick. Then what other goals do you have if they're in the short term, and then keep extending those goals out to the long term.
And it's that like for me past five years, that's when I feel like, you know, definitely trying to invest in the stock market might make the most sense. Yeah, and forty k sounds like a lot, But Tiffany, once you start doing that math of like even with your even with your you know, your conservative budget there of like six k a month. Wait what did you Yeah,
eighteen k that's already half of that savings. And then if you put in another twenty k for a down payment and you don't want to, like you don't want to buy a house and then have nothing in the bank you need to have you want to have something left over, so you don't want to put the full forty k into a house, so that you have zero savings left over. What if something happens like our plumbing just blew up, you know, six months into owning a house.
So you want to have you know, cash cushions set aside for that as well, if you're going to become a homeowner.
No, absolutely, and you're right because I mean forty k it's it's a lot of money until you start to really until you start to disperse it, you know, and to say, because that's what you're wanting. You the stronger the foundation, the better. I mean, everyone has financial challenges at some point, So what you're wanting to do is like, Okay, what do I what can I do to help to
leverage against that? Like okay, if I've got to if I've got my emergency savings, if I've put you know, a decent amount down in the house, if you know, I'm living already living below my means. It's like the non fun things, but those are the things when things get rough, it's not as rough for you because you've put those things into place. And I think that's the place that like, you know, Mandy and I because you know, we we weren't living these like footloos and fancy refinancial lives.
But as a result this year, although you know it's not been easy, we haven't been devastated by it.
Yeah, and I mean I also feel like, oh dang it, my mom brain just cricked in. It's kind of like if you're walking, if you're like climbing a tree and then all of a sudden the branch is gone. That's kind of what mom brain is like, and the tree is my train of thought. Let's just kip it. I don't know for any mom listening. I'm going to keep this in the podcast so you don't feel alone.
Well, what do you call my brain? Because I'm always like, wait, who am I?
Because literally you're like, you know, you do that thing you come to the kitchen or whatever, You're like, what am I looking for?
What did I come here? Forward?
And you're like, I don't want to go back upstairs because I know I'm gonna remember as soon as.
I get to the third floor.
I found a robot in the fridge yesterday. So that's me.
Oh yep.
Well, thank you, thank you Logan or Lolo as we've already nicknamed your fake name. Thank you for question if y'all want to answer, if you want us to answer your questions, hit us up Brandabision podcast on Instagram or Brandabision podcast gmail dot com dot com.
And now it's time to boostop break up, boostop, break stop break well, I want to I guess I want to boost. Have you heard a clubhouse?
Mandra crackers?
No clubhouse? No?
No?
Do you know how to clubhouse?
It is my husband's favorite characters. No, I have not for real?
No?
Yes, no, Oh my god, I'm streussed.
I'm surprised because I feel like I've aays been talking about it. So clubhouse is like this new app that it's enough new social app, yay, but it's different in that it's completely audio.
So what happens with the clubhouse? It took me how to figure out how to use it.
So what happens is and you let me know magic because I've got like some invitation. If you want me to invite you to clubhouse, okay, that you have to have an Apple like either like an iPhone or iPad. You know me, I'm Android all the way as far as my like my computer is a Mac, but my phone. So I was like, guess I won't join because you can't do it on your computer. But then I want an iPad and if you know cheapy me, I was like,
that's the only reason why I joined. But you have to be invited by like a friend that's already in there, which is not hard to find someone that's already in there. And then what happens is there's like you can host a room. You could literally I can click right now start a room, and then I could I could start teaching a lesson. So people can't see you, but they can hear you, and sometimes most people join host.
So like you and I might both talk about like.
Hey Manjoe, let's po let's do a brod ambition room where we talk about like you know how you know how to launch a podcast, and then we'll talk and then you can invite people on stage with you, kind of like so you and I could be talking and someone might raise their hand because there's like a button you can click to raise your hand, and we might pull someone on stage and then they can talk and chair and then they go back into the audience.
I'm not gonna lie.
At first, I was kind of like, I like, I don't like because it was weird to me.
I was like, I don't care.
So is it social media.
It is social media, which I was like another social media thing. And so a friend of mine hosted like a welcome party for me, which is not really welcome party, just basically a room to say welcome Tiffany the budgetist to the clubhouse.
And so people kind of gave me like their best practices.
So what I do like is that, for example, it's a really great I guess, especially with everyone being home now, especially if you're kind of by yourself, it's great because you can actually hear human voices, like real people. And so some of the rooms have been great. I think I didn't like at first because some of the rooms I'm like, I don't get it, like what are they
talking about? But there'd be interesting rooms, like today I was in a room about, like, you know, a marketing and I love marketing, so I was like listening to successful people who were successful at marketing talk about marketing. Or sometimes you have an interesting room where they're playing like charades or whatever, like games and they're like, oh,
this is fun. Or like there was a room where they were like music folks like Jermaine Duprie and like some other like musicians and things they were talking about he was actually hosting a room called the DJ and how important the DJ is to music. So if I was a young DJ, i'd be like really excited to be in a room with like a Jermaine Dupree and some other like you know, famous DJ. So it's like
very democratizing, which I kind of like. Because like there was run room that they did a couple of weeks ago called Kevin Hart is not Funny and Kevin Hart joined the room. Yeah word yes, and he was like oh and they let him talk and he basically he was like, yeah.
Black women never support black men whatever he said.
But I mean, but you can hear his voice. This sounds interesting and also kind of creepy. As a child who you know, was in you know, when the Internet became a thing when I was like twelve, it was like ooh m a Sun chat rooms, and it was that's what vibe I'm getting.
It's very it's a it's a chat room, but like to actually connect and here.
No one's going to be like ASO okay, good.
Yeah. So well like some of the rooms, you're just like this is weird. But you could che whatever room you can, so you can kind of poke.
Your head and so sometimes I like listen and I'm like, I would say, at least once a day, I'll look to see if there's anything like interesting that I wanted to learn about, like sometimes they had a room like how to take your business from six figures to seven figures, you know. So so yeah, so I would say that it's it's interesting. I will send you an invite so you can join and you'll see if you like it. But I will say, like, you definitely want to because
there's so many notifications. I'm glad because I don't want to use my iPad because I'm like, I don't even know how to use it.
That well, I'm not gonna lie since I just got it.
But so the good thing is is that I'm actually happy that it's on my iPad because I don't use it, so I have to, like the only time I use it is for clubhouse.
So I would say maybe once or twice.
A day, so like, I'm definitely my interest is piqued. I don't know how. I don't know about this, but yeah, I will.
Send you an invite.
You know. I'm glad, yeah, because I think that you know, like I said, I think it like I said it might be fun to host a room, or like I said, just to go in and listen to like interesting conversations. And yeah, I have to say because my sister, I gave her an invite. The sister you guys love the investing sister, and she's joined a bunch of investing rooms and she's like they've been really interesting and she's learned a lot of stuff.
So you know, if you can here's the thing that's so crazy.
You can like wake up three o'clock in the morning and there're people like with rooms like discussing whatever.
Because you know, people live all over the world, so.
And you can't tell me it's just voices.
Yeah, that's why I think people like it. So you don't have to get cute literally just voices.
Can you just chime them with you just add to the conversation.
So what happens is is that like if you and I were to say, like click literally there's like a green button, I might say, maybe let's start a room.
So let's start a room.
You and I are in there, people would come in and they're they're at first, they're in the audience. We can either click someone and say I'm inviting you to speak, or they can click a hand button.
Where it's basically raises their hands and then we can say.
It's so IG video thing like an IG live.
Yeah, yeah, without the without the video. So that way you don't have to you don't have to be cute. But so you don't like if we don't want anyone to speak, but you and I that you don't have to invite anyone to speak, which is kind of nice too. So it's not like you're but you know, you might like you might want to take questions or like you might want Like I was in a room the other
day it was like Abra Duverne. It was like I think it was like black Hollywood producers or whatever, and it was a bunch of amazing people and if the conversation was interesting, but it didn't really resonate with what I was working on or anything. Some people are like, oh my god, I'm in here all.
Day, and I'm like, ah, okay, it's.
Definitely interesting, but I don't. I have not been I have not felt the need to be in there all day. But I think that you, like I said, you would enjoy it, and so I will send you an invite to clubhouse.
Let me in the clubhouse.
I know that it's really new. Like I said, I think it came out in May of this year, so like May or March this year, so it's super super new. So that's probably I didn't hear.
Well, my mom hasn't told me about it, so I know it's still cool. I'm gonna do a boost. I read this headline on CNN that says that black millennials have been driving a twenty twenty home buyer surge among
Black Americans. So shout out to black millennials and the emphasis on black home ownership, like I think on this show, obviously Tiffany and I have gone through home purchases and all that stuff, but we talk about the power of owning and how I mean, how do I go You can't really go into the history of how Black Americans have been held back from wealth generation in the form of property. So to see the an increase in black
home ownership is really great. And according to this article some stats for you, three percent rise in black home ownership in twenty nineteen, and this came in despite of the pandemic fueled economic upheaval for all Americans, but especially black Americans. So three percent is not nothing, and it's better than years past. And also just to like point out, you know, black home buyers were still it's it's it's great to see some gains, but we're still a very
small percentage of all home buyers. So only five percent of Americans who bought homes in the first part of twenty twenty were black. But the the three percent increase in black homeowners has really been driven by Black millennials. So shout out to us black millennials and this, this gives me, This gives me hope because you know, I feel like, of course, home ownership it's traditional. Not everyone
needs a house. You don't need a house as part of your you know, wealth building journey, but it's so meaningful, and you know, I think about my little brother and I remember earlier this year he was like, I don't know, I just feel like if I buy a house, like what's the point? And I would talk to him about, you know, generational wealth and as a black, single, black man in his twenties, what that what that says for him to own property and like how you know our
ancestors never could have dreamed of that. And he is on his he's almost he's buying a house in the Atlanta area. He's on the hunt right now, and he already owns a condo. And yeah, I'm really proud. I'm proud of him, and I'm happy to see this. And I certainly feel like, based on the questions we're getting from our listeners, a lot more people like black millennials are, you know, in the home buying market. And it's so it's good. It's good to see us there and let's continue it. For sure.
Yes, I do like I honestly I love that because even in this neighborhood, I was a little nervous because where I live in Newark, is it's like one I.
Would say, probably. Yeah.
The houses are probably the most expensive of this neighborhood. It's called the Forest Hill Sections, just really beautiful historic homes. And a number of years ago the New York Times had did an article about like the hidden Gym in Newark, and it was filled with like older folks, and so many of them are moving out because the houses. Some of these houses are huge because they're built in nineteen ten.
They have like seven bedrooms, and you know, some of these folks are like why why am I, you know,
living in this huge house, and so they're selling. And what I love is that I'm seeing a lot of black and brown families by because that was my biggest worries that they were going to sell and the neighborhood was going to totally gentrify, you know, and I'm not seeing that, honestly, Like I would say, you know, more than half, if not sixty to seventy percent that I've seen when they're when they have sold, I'm like, I look to see, like who comes out.
I'm like, yeah, a brown face, yes, you know.
So it's nice because Newark, honestly, during all the social people has been like a racial safe haven for myself and my family because I don't, you know, aside from you know, dude across the street, but he's moving.
Hey Keith bye, Keith, Yeah, y Kith crazy Keith.
So so yeah. So I think that that's awesome.
And I just love the fact that, you know, we are we are participating in foundational wealth.
Yes, I love our neighborhood so much. It's been majority black since it was founded in the early nineteen hundreds and we're actually I've seen a different side in twenty twenty. I feel like it's brought all of the neighbors together, Like we had a there was a Halloween block party social distance and it was really cute around the Halloween. And then I just made a flyer for our community tree lighting. We're gonna do a tree lighting in our neighborhood.
And this isn't like we don't pay dues, we don't have like a homeowner association. It's just people in the neighborhood getting together, figuring out zoom and just being good to your neighbors. So it's I love it. I this is a dream for me, and I'm so happy that we found this little, this little gem of a neighborhood. And I love that. And it's something that a lot of like if you're in a neighborhood. I mean, it
just feels obviously we're all isolated. But I've seen I've seen how it brings people together in a corny and lovely way. I love cheeses. I just love it. Come on, it's the holidays. So even if it's not like and you can just buy a tree for fifty bucks and make a little neighborhood tree lighting for yourselves. I don't know, but you know, just taking cookies to a neighbor, trying to think of some things small you can do for
your community. You don't know who's out there feeling lonely or falling on hard times, and it's I'm fortunate that we live in a neighborhood that seems to be, you know, looking out for one another, and we all need that. So I hope that you know it's not just here, and that y'all can find small ways to give back and spread cheer, you know, wherever you are in your communities.
I grew up in one like a very like neighborhoody neighborhood when I was like, I would say, like you know, zero to nine or ten, and so I remember like, you know, riding bikes and like literally like it was like I called it like a kid neighborhood where almost every house had a kid, and you know, all the parents were like, oh, you.
Know, yeah, I fed your kid dinner tonight. It was very leave it to beaver.
And I didn't realize until we moved how special that was, you know, So having that is really awesome because my parents felt like, you know, I mean, of course you always keep an eye out, but it was like it felt relatively safe, like it just it allowed me to be a kid, Like as long as I stay on this block, I could ride my bike freely. I knew Danielle's house had the best ribs. I knew a dairy's house.
I'm like, you know.
Exactly.
Like she was the only child, so she had like the Barbie dream house. I was like, oh, let me suck up to Danielle tecause I want to play with the Barbie d your house. There are Darry's house. They would always have seafood. I never had like actual crabs before. I was like, you guys are having grabs. I'm playing with her today. So so it just was really just like having that kind of close to the neighborhood. It's just it's a blessing, honestly, and so like, I'm happy that you have that.
So well I'm feeling. All I think was she and love you because of the holidays, so spread some holidays cheer. I mean, times is dark, but they're getting brighter, they really are, are they are? Yes, Well, shall we call it a show?
I think that we should.
And you know, well before we close, let me I'm going to give you my Instagram of the day. So there is a funny this is guy. He's super Philly if you're from Philly. His name is Vision Poet, that's his ig. And he does these like he tells stories of like his youth like not youth like yeah, youth like when he was like in high.
School and college. He tells them.
So he used to be a poet, so he's a really good storyteller. But he's still a poet. But anyway, he's a really good storyteller. And then he he has animated them and they are so hilarious. You're just like, yo, this guy is a mess. So I encourage you Vision Poet. Yeah, because you know, I like, somebody hit me the other day they tagged me and Neil Kattel, Remember I told you like I like to watch his daily wrap up of like the election post election news. Yeah, and because
he's a so everyone's been telling me. They've been like tagging me and let me know, like I'm here because of you. Budget he said, this is so good.
You're right.
So if you just need like a little reprieve, Vision Poet has just like I said, these really funny, irreverent kind of stories of like you know, of like, especially because I'm forty and he's around that Saint Machel. When he tells like back when Diddy was bumping in the club, You're like, I remember that, and like, especially if you're from the East Coast. It's just you know, it's like I said, it's a nice little reprieve and he's a he's an account that I enjoy.
That's it. Thank you for the IRG recommendation. You've not failed us yet. All right, to take care and want pics of your tensil fide Christmas side house please. I need to see it, all right. And I'm waiting for my clubhouse invite.
Okay, yes, well I'm gonna do right now.