Hey, hey, hey, new Year, New year, new you.
Yeah, well I feel like, you know, New Year's saying me, well no, well, well yeah, I don't know. How was your New Year?
My New Year was great. I'm finally in the house. By the way, Hey guys, Happy New Year. It's Mandy and Tiffany with Brown Ambition.
Yesk me, I forgot. I'm so rude. I'm like, hey, Mandy, how are you? Oh hey, Brown Ambition listeners? My bad?
Did you guys forget us? We missed two episodes.
I know people were like, so where have you been? We've been here living our best life. Mandy's in the house.
Right, I'm in a house. Yeah, my house looks really beautiful. We're like ninety eight percent done. I have realized that it's nothing like HG TV. I mean I already realized that, but in terms of like the moment when you walk in and you've been kicked out for a week and you come in and everything is perfect, that doesn't happen in real life.
No bra.
Over the holidays, I was telling tiff like, I had to host my family and my husband's family, and I had no countertop, no dishwasher, no stovetop, no sink no, no sink in the kitchen no, no nothing, no silverware no, because everything, Because you have to understand, like we moved into the house in April, but we never really unpacked because we knew we were going to do a renovation, and when the renovation happened, we like got out of there.
And this is this was like us unpacking the house plus building furniture and yours your your your best, you know, most smartest podcast friend here decided to plan a housewarming party for New Year's and she thought that she was going to have a Christmas party and yeah, I still had my family over, but I had to cancel all planned functions except for the essential people.
You did what you're what the kids called the most.
I try, but like you get so excited, it didn't seem like that big of a deal. In November, my contractor was like, yeah, yeah, yeah, Christmas. What he meant was Christmas, you'll have like, you know, we had the essentials we could move in and everything, but also just you have no idea what it takes to build. So we were building so much furniture, like the packaging. Our whole yard until today was just the backyard was filled with boxes and styrofoam, and I'm like, so sorry, Mother Earth.
We promised we were re cycling it, but like the amount of packaging that these everything would come in from like a lamp to a you know, a bed frame was insane. But I know my way around a drill gun right now, So holler if you need any help.
That's one thing about renovating it, like you become like a semi pro. You're like, oh no, that's the installation. It really needs to be packed tightly because you're like, where did I learn these things?
Yes, if you guys are doing home renovation projects, here's a free, free tip is to go to PBS dot org or like YouTube and watch this old house. It's the best because they actually my husband's obsessed with it. But it's this It's been on the on the air for decades. But I feel like if you're doing any kind of home improvement, they have an episode for everything, and like just just YouTube in general, I mean obviously
not for electrical and stuff, but for little things. I mean, we learned how to do so much just from watching just watching YouTube.
Yeah, you university in the house, huh.
Yeah, but it was good. What did you do over the holiday.
My holiday was pretty chill, like I Christmas was nice, hung out, my family, my my niece is my nephew. That's like, you know, I feel like Christmas is so a kid's holiday now. So Superman and I I'm like, thank god he doesn't this the podcast because Superman and I said, we're not going to exchange gifts. So what does that mean to you, Mandy? When you're not going to exchange gifts.
You better get me something?
No, Oh my god, you are on his side. I was like, Christmas. He he he whips out this watch for me and I'm looking and I him like, oh my god, I didn't get him anything.
Okay, awkward because.
We said I must have said it like fifteen to an exchanging gifts, right, No, because we're working on the house. Yes, so we're not exchanging gifts. No, so you're sure. So I'm like, wait, why is this here? I was like, so, I it was so awkward. I'm not gonna lie. He had a little bit of a tude. I was like, what's your problem.
He's like nothing, I mean with your family or just the two like this is.
Just like you know, Supergirl had opened her gifts you know, it was upstairs, like you know, like rolling around and all her her new things, and I could tell he was like, here you go. I was like, oh no, God knows the best, and so I didn't even say anything. So then I at first, honestly I didn't think that he was going to be upset about it, because I wouldn't because we literally just spoke about it.
You have receipts probably yes. So I was like, okay, so I don't matter. You should have gotten something.
So the next day he still had attitude. I'm like, what's your problem? He was like, I can't beieven't give me anything for Christmas. I was like a He was like, we just said activity everybody gives gifts. And I was like, well, first of all, I did get you a gift me while Mandy who I didn't, but you know what Amazon Prime is the real o G. I was like, I did get you a gift. It was just delayed because of the holidays, and he's like you did. It was like it'll be here tomorrow.
We will walking upstairs, like I told the Christmas White Lie Tiffany.
But I will say he was very happy because I you know, he's getting his man cave in the new house, and so I got him it was a great, a great deal. I got him one of those those refrigerator, like like you know, many refrigerators that you can put like you know, your soda, your beers and all that kind of stuff. You know, yes, and so he loved like it's it's it was a good size, and I was like, who thank god it prime was on and
popping and Lil was like, it'll be here tomorrow. I was like, you're a gift, be here tomorrow, so see, and he was like, yo, he loved it so much. I mean, when I say so much, I don't even feel bad about not being truthful about it because I feel so bad because I didn't realize how important it was for him. Maybe that's his love language gifts languages right now, Yeah, but I really like mostly I feel like his love language is mostly acts of service, and
he's usually not a big on gift receiving. That's why I was really shocked at Or maybe it's just me because honestly, I could care less of it. I mean, the watch he got me was really beautiful. But if I don't know, maybe it's because I just gifts don't mean that much to me, and so like, I'm more funny.
You didn't tell him that when he gave it to you, did you?
No? No, I loved it. I told me that it was beautiful and I loved it. He picked it up like a really beautiful watch. I was like, come my god, it's beautiful. And that was shocked because I was like, this is not even like one of those like we don't we're not giving gifts. But here's a Starbucks card, we're not giving gifts, or but here's some perfume. This was like, we're not giving gifts. Oh, here's a vital watch. I'm like, really, what this is more than just a gift.
This is like a good gift. Why. So it was a lesson learned. I mean, he's happy now because he's got his fridge. And he was like, this is so dope. I told all my boys. I was like, who, I'm sure they're wise, like she can't get you know, and she just worried that. But I'm glad that, like, you know, he enjoyed it. So that was my Christmas and New Year's was super awesome. His sister always has an awesome party at her house. She goes all out. So we had a really good time for New Years.
It must be nice to have a party. It's okay, I still have some friends over it. It's fine. It was lovely. I was gonna say we decided not to do gifts, but we ended up getting each other gifts that were for us but also for the house, so that is how we justified the expense. I got him a really nice Craftsman toolkit that he had been literally just like Slad just g chatting me every day. Just
here's that link again. I got him that, and he got me a coffee maker, so now I can make because the biggest gripe I have about living out in the suburbs is that I can't just get out of my apartment and go downstairs and get a nice ltte. Now I have to like drive to the Starbucks or drive a dunkin Donuts. And I'm so tired of spending five dollars on you know, lattes. So now I can
do my own lattes. So hey, but anss. So then we came back to work in reality and my husband, who you know, I was like, maybe you shouldn't have got me a gift because now you're basically not going to get paid for work, you know, because he wants for the government.
This government shutdown has been like I'm like, I feel so anxious for folks, like, who, I know, this is not the first time they've had, you know, this government, Like, you know, the government has like shut down and federal workers have not been paid, but it's I guess this is kind of like the first time that I feel like, I know folks that are talking about it, they're like, oh my gosh, like I'm not I don't know when I'm going to get my next paycheck, and you know,
some people are home. But the hard part is those people who actually still have to go to work and not get paid. I see the say workers, you know, I heard that there's been this huge like calling out, like everyone's taking their sick time, you know, like I'm not.
Working for free, right because you work and you're you're not going to get paid, but the hope is that they'll retroactively pay you. So it's not like it's the first shutdown. That's true. My husband's work for the federal government for over ten years and he's gone through several shutdowns before, but he always got paid. Retro actively. But what's making everyone nervous is that we haven't had a human man baby in the presidency before, you know, holding
holding everyone's paycheck's hostage over a dumb wall. So that's why I think this one's just a little bit crazier. And yeah, so my husband's worked, he's been working. He got paid I think the Friday during the holidays basically for the week, like for the work before, the two weeks before. And now he says he's at work because he's been deemed essential, but he's not getting paid. He's like, no, I'm not working late tonight. I'm coming home because I'm not getting paid anyway.
It's wow, not cool.
But it's not just like workers. It's also us, right, so the IRS right now, who do you like their federal employees is so this is tax refund season, so there's concerns that tax refunds may not go out on time because there's not enough people staff. And already the IRS like didn't have enough people, you know, in the.
Best of it works for the IRS. And he said that, you know, like you are going to have to send your taxes in in a timely manner, but they can I guarantee that you're going to get your refund done in a timely manner. I'm like, wow, this is really like, this is really a season where people kind of like reset their finances with their tax return tax returns, you.
Know, yeah, I would like mine, please.
Well I don't get tax returns anymore, so I'm kind of like, well, but still, like I remember when I was teaching how that was, like whoa, it was a great way to like boost my savings or pay down additional debt. So it's just crazy times now.
Yeah, and they're saying that things like what do you call it? I almost said welfare, but you're not supposed to say that anymore, are you. I don't know, can you say welfare? Welfare assistant? Food stamps may not like they're good for now, but they may not be good at the shutdown drags on forever. So it's not just it's like everyone's getting screwed, working families, poor families. I mean,
how why it's so ridiculous. And I don't know what the latest is, but it doesn't seem like we're anywhere closer to reaching a deal than we were, you know, a week or two ago. So just hope that we get over this.
Yes, because one thing I did see that, like, I saw this video of our current president and he said that that potentially this could last a year, And I'm like, wait, what.
Like holding your own like holding your own government hostage and would then pay for hundreds of thousands of employees.
This is Yeah, it's about eight hundred thousand people affected. I mean as far as directly affected. And it's like, uh, how does that you know? Yeah, that's and it's crazy because oh yeah, it's just really crazy.
Here's hoping don't try and visiting national parks. There is like this really sad photo of a national park trashed because I had to pick up garbage.
I saw that. I was like, wow, I heard DC is looking real filthy. Right about that?
Well, I think teachers, I mean teachers and like policemen, those are state employees, right, so they're not impacted.
No, I feel like because my sister in laws husband, I think he said that he was home. I have to I'd have to ask her, But I feel like he was complaining about it as one of the people I was talking about. And he's a he's a police officer. But I don't think but he also would be essential, So I just can't see it. Or maybe it was her I think maybe she works for the federal government. That's why she works for her. So it's herd that's.
Home not Okay. Yeah, well, you guys, if you're impacted by the shutdown, we want to hear from you. Yeah, send us an email at brand Ambisson Podcast at gmail dot com, or tweet us at yeah you still got it, or tweet us at the BA podcast on Twitter. Yes, so you, miss thang, have a what's your liverature challenge for twenty nineteen. What what what would I do?
No? No, no, no, no, no, that's fine. That's I thought you gotta say something else. Heck, keep going.
Thought I was gonna scoop your boost. Yeah, we'll get to your boost. Okay, don't you worry.
So I'm excited because we are. This is our fifth liberature challenge we so far have had, not including this challenge, but collectively over the last four years before this challenge, about seven hundred thousand, mostly women, get free financial education. The first challenge was all about the fundamentals, so like budgeting, savings, basic credits, all that kind of stuff. The second challenge was the Savings edition, so it was all savings. Third
challenge was the Credit edition. That's the one I did with you Mandy and and Magnify Money. That was a really dope one.
And then the.
Fourth challenge was all about Network that was last year. And now this challenge is home the home Buying edition. And so the way the challenges worked, they're always free. It's really like my giveback to the community. So there's no excuse that you know, you like, you get all the tools that you need to help yourself in a specific kind of like genre of financial education. And a lot of folks just ask me, like how do I, you know, purchase a home? And I partnered with a
friend of mine, the Tip of her. She has this company called m M n H Financial Services. But what I love about the Tip is that not only is she a credit expert like certified and all that kind of stuff, but she's also a certified she's a realtor,
and she's also a certified home buying educator. So she works with like Freddie Mack and some some of these other kind of like UH federal and national like uh financial not financial home buying education kind of like uh uh firms and and and she she teaches around the country, and so I asked her if she could come on board and help me to structure this in a way that made sense, you know. So she she led her expertise and it's awesome. The first week is all about
home buying knowledge. Second week is like all about really like implementation kind of like what do you need to do to kind of get yourself ready? And then the third week is all about funding, like how do you like what types of funding are out there, and like what's the best fit for you? And so even if you might not be ready to buy a house right now, which is fine, but it's almost like having it. It's like a first time home buyer class that you could take at the in the like the privacy of your
own home. It's three weeks. The emails are delivered directly to your inbox. You could just go to l r C for Liverature Challenge l RC home Buying dot com and it's completely free. It's like I said, this is a and for some people who are like I'm not interested at home buying, but you talked about the other ones networth, credit savings fundamentals. You could just go to Live Richer Challenge dot Com and all of them are listed and just take one. It's a great beginning of
the year, kind of like reset. And so that's why we always do it in the beginning of the year. And so those are automated. We're currently doing the home buying addition live and then we automated after fabulous. That's that way.
Where were you two years ago?
Huh huh for myself too. Shoot. But it's just good because like some things, I'm like, I'm learning, even myself. That's the thing about Like me, I'm like, I'm not an expert in all things. Like I know what I'm good at, and I try to stick to that. And then I my friends who are I bring them along and I'm like, well, can you can you show folks how to do this? And I've never gotten to know yet. And what I love about it is that you really
get to learn. Like everyone you need on your team, you're like, oh, real, oh, I need to you know, maybe a mortgage lender. You know I'm gonna need potentially like you know, like uh, definitely, you're gonna want somebody to inspect the home, and these things that you can get ahead of time. And too, like you know, there might be a teacher next door program or a police
officer next door program that you might qualify for. What's nakka, you know, and so knowing all of the funding resources that are out there and what you need to do
to be prepared. So one of the things that the typic because she teaches, like I said, for like Freddie mack and and some of these other organizations, is that like that her students always come back to her and tell her that their lenders like you are like the one of the most prepared people have ever seen, Like all of your stuff is in order, because the way she teaches is to make sure that all of your stuff is in order, so when you do go, you
are likely to you know, to get your proof. I've seen people find a house, get really excited, get it for your proof letter, only not to be able to close because at the end, you know, they didn't have their paperwork done or they really could not their finances just didn't match what the lender felt comfortable lending. So yeah, that's what this is for. So and yeah, they don't have to be ready right now, just for people who are just even interested in learning.
I'm interested in learning more about like the tax implications of home ownership, especially now with all the tax changes from last year finally going into effect. Like, I think my next move is to get a new accountant because I had like a tax preparer before, which was like very simple because we just had like W two's and you know, nothing else to really account for. And now I'm thinking, you know, we just did this big renovation.
We've did a lot of waste. We've we've made a lot of improvements to the house that save on energy costs and things like that. But what I'm not sure about. I'm not asking you for like an answer, because I know, but I'm just saying maybe maybe other people are wondering too.
With the standard deduction for tax filers having gone up, what that means basically is it's made now it's makes less sense for you to itemize things like charitable deductions and the cost of installing new windows on your house or whatever. But I'm wondering now if we've made enough improvements to the house that it makes sense for us to itemize, And if we do itemize, it would be our first time and especially I think this is our first time filing as a married couple. I can't remember
if we did last year or not. No, I think this might be the first year. So yeah, what does all that mean? And last year we ended up owing taxes. I'm just like I'm going into this time. I want to like prepare and get interviewing accounts now, just to get on the ball.
No, that's I mean, it's it's critical because I mean, thankfully I had my accountant for the businesses, but you know, he doesn't just do my business. He does, you know, my my personal taxes as well. So just sitting you know, I remember when he sat down with us and you know, was we were kind of going back and forth, do we file married filing separately, married filing jointly? Like? Do we do we like claim? You know, he Superman has a has a daughter, my bonus daughter, Supergirl, Like do
we claim her? So there were all of these So what I loved about Carlos ourccuntant is that he ran all the scenarios, like you know, with the house without a house, with Supergirl without Supergirl, all of these things, and and came up with how like which one was going to give us the best tax benefit? You know?
And we came up with like the perfect mix. And so that's what versus a tax prepair, that's what your accountant can do is to really because with the UH typically with the tax prepair, like I remember, I used to go to like hn R Block, but I stopped because they were like charging me per page, you know, and it was like, oh, by the time they were done,
I'm like, that's my whole refund. And so with Carlos and with most accounts, it's kind of just like a lump sum, and they're they're not just like you know, they're not just running your taxes. They're giving you advice, you know. So Carlos, you know, will give me like advice based upon changes that are happening, like well what about this and what about that? And what about this house? And you said you brought another one and what does that mean? And are you guys renovating all of these
questions that seemed like small talks. I'm always thinking to myself, me and Carlos were like talking, and I'm like yeah, and then because I'm thinking with chit chatting like friends, but what he's doing is extracting information from my taxes. You want me away a therapy. Carlos is like, oh, that will affect your taxes in this way. And I'm like, oh, so you don't care about how my renovations are going. He's like, oh, that's nice, but that's how it's gonna
affect your taxes. So yes, getting yourself once your taxes get to be a little bit more complicated, getting yourself a really good accountant. There's actually a website that Carlos told me about because people always ask me about if they can if they can hire him, and he's honestly not taking on new clients, but I am going to get you the link it is. He was like, you know, going on here and you know, basically doing your own research. Let me fand it. Where is the Carlos I know
now that it's like it's like I'm under pressure. It's here.
I swear it is.
Don't dude, I'll edit.
This out to be less scruciating.
I'm like, I can't find it. I'm like, are you kidding me? I was just looking at it yesterday like oh, this is yeah.
I think I'll keep it it. It's funny enough.
It's like a s P A I A P A A s P A S C p A or something like that.
Well, the American Institute of CPAs is the big national organization. Yeah, they have a tool online where you can locate CPAs in your area and find them. Yeah. Yeah, we interviewed their experts all the time.
Well there you go. So yeah, so he was just like, you know, looking there viewing someone because you really want someone. It's almost like your doctor. You want someone that you're going to feel very comfortable sharing kind of like your you know, your background, your history, the mistakes that you made, you know, so that way they could really advise you based upon like what's really happening in your life.
You know, yes, one hundred percent, I am ready it's happening. My other resolution is just to actually go to a doctor, speaking of which I did not go to a single medical professional in twenty eighteen.
Why. I don't know.
I just kept saying, I think I might have tried to go to the gynecologist. But I think what happened was I went this might have been last year of the year, but no, I'm pretty sure it must have been this year. I went to my gynecologist. And if you guys are in a busy city, maybe you have this experience. But I made an appointment. I went, They made me wait an hour and a half and I
still wasn't seen and I had to go back to work. Okay, so I left and I did make a follow up appointment, but then I did not go, and I'm not I mean, it's very serious, I should go to a doctor.
Yeah.
I was like, man, I'm just like wasting the money I was spending on insurance. What you know, I managed to spend. I did go because you know, I saved money in my flex saving his account. And I only at my company. It's different from every employer. But at my company, they let us roll over five hundred dollars. But I still had, you know, like a few hundred dollars to spend. So you know, I got some new glasses and some stuff at the drug store, but I needed to go to the doctor. I'm gonna do it.
Me feel bad, but you.
Know, and I'm not gonna lie. I was really never really like a doctor person. But this year I went to the doctor alive. I guess because in preparation for trying to have a kid. But I found myself at a doctor that so it just got easy because I was always Honestly, the reason I used to not go is just for the economics of it. I was, you know, an entrepreneur that wasn't making a bunch of money. So I was like, this call will go away by itself.
I'm pretty sure, you know, like, you know this mole looks it looks benign.
You know, Okay, you didn't have a mole.
What I'm just saying, like, I remember what time. The only time I actually read is like I dyed my own hair and I didn't revealize I was allergic to black guy and my whole head yes, manny. And my mother was like, do you want to die? Because I was like, I don't have money for the emergency room. She was like, I sent her a picture. It looked like do you remember the movie Mask with like Jim Carrey? No, no, no, oh wow, you are so young.
Wait what other one is there? I was like, it turned your head green? What where is this going?
No? Mask is with oh what is her name? A Cher? I want you to google it. Look up the Mask movie with Chaer and she had a son, Eric Stalt was but his name was Rocky Dennis in the movie and hits face like literally, that's my Facebook. I want you to Google so you can take a look. You're gonna be like, no, I don't want to. Oh my god.
Him, Yeah, I wasn't born when this came out. Sorry would you carry?
Oh my good. So like that's how my facebooked. For those of you who were doing the Google search, it was because it was it was so swollen. But so I read later that here's a sector of the population that it's severely alerted to black dye. And I was like, oh, I was supposed to do a test and I didn't, and so my face grew up like that. It was just all liquid underneath that I could feel it, and I was like, it'll go away, It'll go away. So I ended up walking to the emergency I went and
they were like, you're having an allergic reaction. I'm like, no kidding. And they gave me basically a glorified Benadryl and then gave me a prescription, which I thought was like a prescription. And so I go to the pharmacy and they basically said Benajolo was in the aisle. Eight hundred dollars later.
I was alive. Okay, you're not helping, just make a case for healthcare, Tiff, You're not.
One of the things was that, And this is what I learned. I didn't know that you could negotiate your your bill, and so that's what I learned with that because I owed eight hundred, but I didn't have eight hundred. And I remember it was like, you know, like they sent me like the pink envelope that's like the envelope you get right before collections. And my brother in law, he was in medical school, He's like, no, you should
call and negotiate it, you know. So I called and I was like, look, I don't have eight hundred dollars. They're like, well what do you have? And I'm like four hundred and they said, okay, we'll take it. I was like, oh wait, two hundred.
Definitely negotiate.
I didn't know that. So I negotiated down and so yeah, but it was a it was a lesson learned. And like I really was not planning on going to the doctor. And my mother's like, your faith doesn't even look recognizable. So you're you're you're gonna, you know, so it's just important for you to go to the doctor.
I guess that's why I haven't gone because nothing's really happened. I'm pretty healthy, but I have gained weight this year. I think that's just I know why, because I've just been like not living a normal life. But I'm gonna I'm gonna go. I'm gonna go. I'm gonna do all of it. I'm gonna go the dentist, I'm gonna go to the guy ina collogist. I'm gonna. I need to find new doctors in my area. I think that's also part of it, when you know when you move and
like you had to find all new medical professionals. Like I think I'm actually gonna I'm done with doc Doc because it's just like, you know, I feel like I've had a hodgepodge of medical professionals over the last eight years living in New York. I'm like, which one's closer to my job now, you know, and just flipping. But I think it'd be good just to have like a dedicated primary care position and take care of myself. In
twenty nineteen, hold me accountable on it, guys. Tweet me in three months if I haven't gone to a doctor, I'll pay something. I'll pay money to a charity.
I don't know, Yes, I mean you can pay toward my renovation. You know, that's just putting it out there. You're all right, You're all right now, No, this is this is all good. See Like New Year's is such
a great time to reset. So these are good resetting things for me for New YEARK Like I didn't really, I mean I have some like business goals, but really like my big like kind of like personal goal is really like like just continuing to build on relationships, like you know, being a good wife, being a good sister, a good daughter, you know, good friend, and just making sure a good bonus mom and like really just trying to solidify my relations and just making sure you know
I'm president and I'm here. These are questions, That's all I'm gonna say. Because everyone hates when I mess with Hilaria's I got your messages.
We're gonna bring that into twenty nineteen. We're gonna bring that jingle.
Okay, that's the first prie the girl question.
All right, to kick off the new year, we got a couple of good questions from some listeners. Let's start with the listener Veronica. Okay, Veronica says, my name's Veronica. Good good place to start. And I want to say I absolutely love your podcast. It brings me life. Since I started listening to you guys, my credit score is now seven oh one. Hey, no, good to you. And I think it's hilarious that Tiffany still doesn't know your social media hand. This doesn't sound like a question, Okay,
on to the question. I am currently using a brick and mortar bank Boa the worst I have been, she says, not that was her words, not mine. I have been researching online banks and I really like what Ally has to offer. H sounds familiar, but I am scared to transfer all my money to an online bank. I guess because of the familiarity I have with Bank of America in the easy access. Do you ladies still use a brick and mortar bank in addition to banking online for
your regular everyday checking and savings accounts? Would you suggest switching to a credit union and having an online bank in addition to that? There are so many options and I would like some advice. Thank you in advance. Veronica A loyal fan. Oh thanks, Veronica, Varo.
That's why I used to call my best friend back in the day Varro.
Uh.
Yeah, so I actually believe in having three. I like to have a credit union because if I'm going to borrow, best place to gets the best rate. I have an online only bank because that's where I keep my savings. I don't even have a checking account there because I like to keep my my savings far away from my checking because then they become the same thing. And then I use my brick and mortar for like basically like checking, like bills and and like where I get a lot
of my deposits. So, yeah, I have brick and mortar. I use Oh I mean, I hate to say, but I mean I use a bank. Yeah, so we're gonna leave it at that. So but it's a brick and mortar very similar to your bank. But yeah, so I don't I don't think there's anything wrong with having those three. Actually, I like that because I like having a bank that no matter where I am and kind of in the country,
I have access to my funds. And like, like I said, the credit union is great for savings as well as borrowing money, and then definitely online for for savings because it makes your money slightly inconvenient if you don't have for checking at that same bank. So I'll say go for it and add you know, have those three in the mix.
Yeah, that's not a bad idea. I mean it's not an all it's not an all or nothing thing. But when it comes to she mentions being afraid of transferring her money to an online bank, and I mean in terms of being afraid, online banks as long as they say their FDIC insured are equally as safe as a brick and mortar bank. Just because there's a storefront doesn't
make it any less safe. In fact, I would argue it's less safe because it has a brick and mortar location that could just shudder at any moment, because that's the trends that we're seeing in big banks, is that it's getting too expensive to keep those physical branches, so they're they're shutting them down and they're trying to compete now with the online bank. So yeah, An, I have
an ALLY savings account. I recently opened a checking account because it gave me the ability to write checks, so I like that, and it's easy to transfer funds back and forth. I still have a big bank account that I use, and I forget why I opened it, but it used to be nice before I realized that ALLY refund I used to like it, because you know, it was nice to have a big bank that I knew I can go to an ATM and access cash for free. Back then, I use cash a lot more often than
I do now. And also since then, it's even less of a reason to stick with the bank because Ally and some online banks will offer a reimbursement to a certain amount for your ATM fees if you go you know, out of network, which you have to because they don't have a network of ATM fees. So I can swipe my ALLY, I can. I take my ALLY checking card and you know, I take it to the bodega to get money out, and then I get a refund for like the two or three dollars fee or whatever it is.
I think it's up to fifteen dollars, but check the terms. Yeah, h Man credit unions though I don't I haven't had a credit I'm still mad at Georgia Federal or what is it, Georgia Telco credit Union. My friends they still have like fifty dollars that is trapped in an old checking account that I had way back in college because I can't remember my damn password.
Are you kidding? No?
And like I have to. I think at this point that my account's been deleted and I've tried to call multiple times, and I need like a phone password, and I cannot, for the life of me, figure out what nineteen year old Dandy thought was a good phone password.
I mean, you're not using with everybody else that's using the year of their birth.
I will. I'll try that next. I don't know, I have no idea. I have to like go physically to a branch in Georgia, which I don't live there anymore. So, uh, they got my money, but I'm coming for it every they still send me. They still send me account statements. It's really shady, Yes.
You wish, maybe it's give me.
Annoying. Anyway, thanks for your question, Veronica.
That was a good one, even with the little shade about because you're right, I don't remember our social media handles. I was trying to wiggle out of it when I was telling you, and then I was like, oh, darn it, I don't remember them. So we're here now. It's okay.
We don't have an Instagram, we don't take messages there. That's when I remember, I know, I know, Oh my gosh it, I'll never say we've been doing this how many years?
I know?
It's okay. You guys know how to google. You can find us exactly all right. And here's a question from paul Lette. It's a good question for the new year. If you're trying to rebuild your credit. She says, does it make sense to get a secured credit card if you already have a regular credit card? And how well getting a secured credit card plus having existing credit cards affect my credit and my credit score.
Oh well, first, maybe I'll describe what a secure credit card is, and then Mandy you can kind of give some invice. So a secured credit card, I like to say, is like a credit card with trading will, right, so it's really secured. So every credit card is secured in some way. Like so like a regular credit card is like that's the bank's money. So every time you wripe, you a regular credit card, you're borrowing money. So next time you're at Wendy's, you are fixedally borrowing money for
that chicken sandwich. But with a secured card, they're like, we don't trust you that much because your credit is either like you really don't have much credit, so maybe you're super young, or you're just someone who never borrowed any money, or your credit's not very good, and so they're like, we don't trust you, so we're not gonna let you loan. We're not going to loan you money
through your credit card when you swipe. Instead, we want you to secure that card with your own money, anywhere from three hundred dollars is the lowest that I've seen upboards of like one thousand dollars. So you put that money up. They put it like a like a like a basically glorified savings account, a money market account for you, and they give you the card and let's just say, put up three hundred dollars. Your limit on the card is three hundred dollars, and so you swipe away pay back,
swipe away pay back. I've seen that like as short as six months of using the card. Wisely, if it's with the bank that actually has a you know that also offers an unsecured credit card that they can say, like for example, Wells Fargum, they can say, hey, you've been doing so well with a secured card, we are going to make it in an unsecured card like everyone else, and we're going to give you back your three hundred dollars,
and so that's basically what it is. Typically, secured cards are for people who are wanting to grow their their credit history but don't have access to a normal credit card. Typically, So, but what do you think about having.
Yeah, I don't see a problem at all, especially if you've had credit in the past and your score is low and you're looking to rebuild but you can't get qualified for any new cards, or you don't trust yourself with regular credit cards and you just want the training wills back on and you want to just take out a secured card to build some good credit history. I don't think if you have a credit card and you also have a secured card, there should be much of
any impact to your credit score. As long as you are using the secured card secured card properly and making your payments on time, your score should improve. And as long as the existing credit cards that you have, you know, let's say that there's nothing charged on them and you're not carrying a balance from month to month or getting paid you know, paying interest, then yeah, it shouldn't be
hurting your credit. If you've had credit cards in the past, that you've been really delinquent on and that's still on your credit report. That's just going to have to take time to fall off your report. So the secured card behavior will count as good behavior, but the old credit card behavior won't.
We leave you.
You have to wait that seven year period to have it finally drop off your report. But as Tiffany always does, you know, when when they're calculating your credit scores, they're looking at Yes, they look at the past, you know, several years of history, but what's happened most recently tends to have a bigger impact. So the negative impact of that older history of yours will diminish with time.
Yeah. Yeah, And so the short answer is that's fine. You don't have to I mean you could. You can use your current credit card wisely, you know, meaning like so the best way, like I found to use a credit card that like you're like, I really need to raise my credit score is that if you pay it off, if it's close to being paid off, that will be awesome paid off, and then put something really nomenal on
and something under fifty bucks. So maybe like gym membership or I don't know, maybe like a magazine membership or something subscription and then you you leave the card home, let the membership charge the card automatically, and then from your bank account set up an automatic payoff. Just call the card company and say that is the statement date,
like basically when do you issue me my statement? So you know to pay after the statement date, meaning after they've recorded the card has been used, but before the due date or by the due date. So there's like a window there, like, hey, what was her name again? Paul attellaid, Hey, Paula pau let's use the card credit bureaus so they've recorded that because you don't want to pay it off so quickly that they show that you've
never used the card. So if you do that, And so I did that once when I when my car, my score had dropped from like an A or two to like a five forty seven after my foreclosure and the recession. So I did that with two cards, Like I had two cards that already had a zero balance because I had like a bunch of cards because I was wild out here in these streets. But I had two that had a zero balance because I had done I had done one of those rollovers, and I kept
the cards open because I was. I wanted to pay down my debt, so I rolled it over to the cards that had less a lower interest rate, and so my credit score dropped dramatically like soon after that because I had a foreclosure. And I was like, you know, with these two cards. My friend who was a bankruptcy lawyer, I asked him, like, what do you usually tell your clients, and he was like, you know, Tiffany, just charged something really small, leave the card at home, and then paid
the card off in full. So I did that with two cards, and by it took about a year, and that's some change. It took a while, but I was like, I think maybe a year, I went to a seven fifty, but that's with an active foreclosure on on my credit report and so and now I'm back into eight hundreds.
Yeah. I mean, if you have an existing card and you trust yourself to use it, then just do exactly that. You don't have to open a secured card. But maybe you're opening a secured card for another reason that makes sense to you. So but as long as you use both wisely, then it will be all fine. My neighbor's name is Paulette. By the way, I keep thinking about that Hey you pull it all right? Thank you guys
for your questions again. Hit us up at Brandnambisson podcast dot com or shoot us an email or shoot us in an email at Brand Ambition Podcast at gmail dot com. Or yes, you can go to Instagram at Brown Ambition Podcast on Instagram or on Twitter at the BA podcast. By the way, Yeah, who's contacted miss what's her face? Who owns the Brown Ambition Twitter handle? Can we talk to her? Can we get it please? It's been three years?
Like, yeah, she's not ying it. Oh, I just kind of update it said. The White House says that I R S will issue tax refunds during the government chuckdown.
Well okay, yeah, right, we'll see side.
I I mean to be fair. That's according to the Shade Room.
So I don't know how listen, okay qualified.
So now it's time for boostand up break a boostreak. I have been waiting for this time. Do you have a booster break?
Why you make me go first so you can just stomp all over my with your way better boost?
I but no, you have rate.
I'll go first and keep it quick. So I was just gonna boost. You know, it's not like I have legislation under my name, but I was going to boost certificates of deposits because I don't think they get enough credit as savings vehicles. So I would like to do
a shout out for CDs. So, if you have money in savings and a regular savings account and you are looking to earn even more on your savings, online banks especially offer pretty good CD rates these days, and I took a risk because the thing with CDs is that you lock up your money for a certain amount of time, like three months or six months or twelve months, up
to five, seven, ten years. So for me, a year ago, we decided we weren't going to need a certain amount of money and we could put it into a one year CD that earned at the time almost a full percentage point more than my regular savings earned, or is that true half a percentage point more. So we put it into a CD and it just matured this past couple of week, and it was so great to actually for it to work and to see that I've earned more money than had I just left it in my
regular savings account. Even so, if you guys are like me and Tiff and you like to hoard cash, yes, right, a CD is like a baby step up. You're not putting the money in the market and risking it. You know, CDs are still under FDIC insurance. You won't lose your
principle if the bank goes under. So yeah, CDs. I recommend if you have money that like you've got your emergency fund saved, you have money in case of emergency and a regular liquid savings account, and you have a little bit of extra money like let's say you're saving for ooh, for like Tiffany, for saving for a house,
like a down payment. It's a great way to save put some money away into a CD, and then maybe if you're looking to buy a house in you know, a year, two years, three years, then it can be a nice way to earn morm on your money over that time. With the caveat that, when you get a CD, you're like locking in the rate, So you do want to pay attention into what's happening with rates right now.
Rates have been going up, so you may not want to lock up your money in a CD for too too long if the FED decides to keep raising rates because when they raise rates, usually savings accounts and CDs you'll see deposit accounts have higher rates too, and you don't want to be stuck with like the twenty nineteen rate when the rates are higher in like twenty twenty two. You know, so that's my boost. Okay, you go like.
You guys know a couple of years ago. It's been three years actually, I mean so twenty fifteen. A friend of mine, her name was Angela B. McKnight. She reached out to me. She had just become the new assembly woman for in in Jersey City. I think it's like the thirty fifth of the thirty first district, and she reached out. I was like, I'm the new assembly woman. I really want to create change right away. I want to get some law paths. I want to focus on education.
And I said okay, And so she was like, you know, obviously Tippany, she had taken my finalnial education class at the INN that a way. That's how we met, and she was like, I thought it was great. I'd love to talk to you about what would that look like
maybe in the school system. So we met and I told her, you know, there's already a law and place for high school and she was like, okay, I didn't know that and I said yeah, and I said, honestly, I really believe the financial education start should start as young as elementary school and middle school. And she was
like okay. And we met at Starbucks, like I said, December twenty fifteen, and she got her staffers to work to look up the law for high school and all of that that it meant, and to start to gather information of what we were going to need for to write the bill for the piece of legislation for the for our bill. So we did all of that she got.
We had a little bit of pushback from some New Jersey administrators and educators because and it was great because I got to meet with them, and She's like, you know, they're coming to my office. I'd love for you to meet with them because we really need to get them on board. And so I did, and I understood their their pushback and their friction because they were just like
me when I was a teacher. I was like, oh, here we go, another new piece of legislation for people who don't know anything about education, and they're making it harder for me to be a successful classroom teacher. But I told them that know that I believe in integration versus like stopping the educational day and creating space and time.
And so they were like, wow, this is you know, this is really good to what we did is we crafted the bill to really talk about you know that like integrating financial education in elementary and middle school, not saying stop its financial education time. For example, like books that like so if you're going to order one hundred books, maybe five of them are are based in financial education.
When I was teaching preschool, I taught for over ten years, I had a we did like a penny drive every year with the kids, and then every every week when we had the penny drive, the kids got to count the pennies and talk about who we were going to give the money to. So like really integrating or like doing savings boxes. So for art, we always did art. We always did like a major art project once a week. And so we would do sometimes like like they would
bring in a two box from home. We would cut out pictures of things they wanted to save for and what that looked like. Even like for like as little as three years old, I would Every preschool classroom has like a job chart where the kids do jobs around
the classroom. Most of them anyway, and so I used to pay the kids, like at three and four, like I would give them monopoly money, one dollar if they did a good two dollars if they did it not so great, two dollars that they did a great job, and no doubts if they didn't do anything right, cause you know, and then they got to save it in their savings boxing. At the end of the week, they
got to spend it in our school store. So all of these things are integrations versus buying new materials, stopping all of it. Were required with some training for teachers to learn how best to integrate into their classroom. So anyway, we got all of this information back, wrote this bill based upon integration. Thought it was so great. It went through the committee, it went to the House, it went to the Senate. It had bipartisan except across the board.
Got to Governor Christie's desk right when, so he you know, he wasn't going to be the government anymore. So he was on his way out and got to his desk and she, you know, spoke with him briefly. It was like, you know, please this bill is on your desk, please sign it, you know. But he had like I'm sure like hundreds of bills on his desk. He didn't sign it, So they call that a pocket veto. This was about a year ago, and so that just.
For how long years this is through three years as long as the podcast has been running for.
Really, you're right, And it was so disappointing because, you know, because you know, you worked so hard. I remember, like I mean, there were times when she wanted me to come to testify in front of Senate, but I couldn't because I you know, I was somewhere else enough out of state. But Angela really put in so much work on you know, assembly woman midnight, and so it was
so disappointing. We were like, yes, it's finally he it's not, you know, but it's honestly such a It was actually, like, honestly almost like a blessing that he didn't sign it. So now we have a new mayor, Governor Phil Murphy, same thing. This was a little faster. So Angela did the same, like you know, it was the big bill went through the committee, the Senate, the House, all of that. There was pushback. She had to edit the bill to exclude e elementary school and just say middle school. So six,
seventh and eighth grade. They felt more comfortable with that, so she said, okay, brought it all the way, got to the governor's desk. Not only did they say we're going to sign it, but we're going to get it a signing ceremony. So normally bills are signed. Every day you get an email saying, hey, your bill was signed. It's a law now. But this was like a ceremony. And they let Angela pick the school. And Angela picked the school in Jersey City called the President of Barack
Obama School, which I thought was so awesome. She actually helped her rename that school, and so she picked the school. All these amazing students came, and what was even more amazing, So Angela, She's brown ambition, personified me. I'm brown ambition. Right. Then Governor Phil Murphy wasn't I don't know where he wasn't able to or I don't know if he's on
vacation or if he's out of state whatever. So they had Sheila Sheila Oliver, which is the she's the first black woman lieutenant governor, and so she signed the bill. So here are all these brown women and black women on stage, the President of the school and not the president. The principal of the school was a a is a black woman, and it just was like so like if you look at the pictures, you're like, wait, what's happening.
It's just all this beautiful brownness. And so I remember, So they had us all come on stage till one. Angela just gave me like the dopest shout out. When it was her time to speak. My mom came. I told her last minute, like the night before. I was like, you know, and she was it's such a type of thing that you forget to tell your mom and then she finds out later and is livid, you know. So she came. My best Friendrina came, my friend Rihanna and
her daughter. She her daughter was home from school. She wasn't feeling well for a couple of days, but she was feeling a little bit better, but still had one more day office. She was like, I want her to come see this. Olivia is eight, so she's like, I want her to see history being made. So all of us standing on stage and then so you know, Lieutenant Governor Sheila Oliver, I'm like making the hand motion signed the bill and said it is officially now law that
was January third, twenty nineteen. What an awesome way to start the year. So now but two thousand. So what's so awesome about it is that it takes place or goes into effect for the most upcoming school year, which
is September twenty nineteen. So that means in the state of New Jersey, all of New Jersey middle school students, there's going to be requirement of integration of financial education, so something that's not going to be a heavy lift for the teachers, but it's going to start the conversation of financial education in the classroom as young as sixth grade. And so we're going to go back to write another bill to get that elementary school because I really believe
that elementary school needs to be included as well. So I got legislators from Washington and Maryland hit me up saying they wanted to do this. When I was in Texas, the governor's wife we were talking about it, and she was like, when this goes through a New Jersey, hit me up because I want to do this in Texas. So it's just an amazing thing, and I'm hoping this is going to ripple outward to other to other states, and that's what we're hoping for.
You're like the best.
So I'm like literally so for those because some people are like, want to look it up? It's a fourteen fourteen. So if you just google New Jersey bill or New Jersey law a fourteen fourteen, it comes up. But I like to call it the budget este Law. Though you're not gonna see that on there, just know that that's my.
Name for we know what it's called.
But yeah, So honestly, it's it's surreal to think, like, you know, one day when I have my little one and they're like coming home with like financial literacy homework, and I'm like, you know, your mom did that right whatever, I'm like, now, real, I did do that.
When they're watching that same old cartoon, I'm just a boob. You'd be like, well pause that.
Yeah. So it's just awesome to like really make lasting change happen, you know.
I mean, I don't know personally, but I'm kidding. That's so exciting, especially because we've heard the progress a long time. Listeners. If you guys remember like heard you talk about this for so long, and so yeah, it's exciting to see you win. My friend.
Yeah, I just like, like I said, I like it. To me, I played a really small part. Angela, like all the all of the legislative like maneuvering you have to do. It was really such a civic lesson. I was like, wow, this is all it takes. And Angela, I mean, if you get a chance to google assembly Woman Angela Vie McKnight, because I was telling my dad about it, and my dad's like the smartest man I know, and he was like wow when I told him about
the law. He's like, do you know how many legislators and how many people in government who could get law passed, never in their whole legislative career ever get a law pass This is like her third or fourth law, Mandy. She's only been in she's only been in office like three or four years.
That's amazing. The tiede have even seen like all the posts from like the new class in Congress thing sworn in and like, yes, all the women and women of color. I mean, I know all the crap happening in the country right now, but it is so like Galvani It's like gives me hope, yes all over again. So it's amazing.
I just love that she's championing things that people would not normally. She just got a law path for I don't know if hair braiding is huge in New York and New Jersey, so for those of you listening thing, it might be huge in your city as well, but especially in really urban cities, hair braiding is huge. But the problem is that they were treating hair braiders like cosmetologists, and they were making them having to go to school, which is about twenty thousand dollars to get all of
these certifications that they didn't need for hair braiding. And so Angela worked and it seemed like such a small thing, but it wasn't because what it meant was that women who had started these businesses, like you know, like hair braiding shops, they were kind of operating illegally. They couldn't grow, they couldn't advertise because if they did, and they came to their shop and they said, where's your cosmetolity certificate?
And you don't have one, even though you're not washing here, you're not dying here, you're not cutting here, not anything, you're just literally braiding. And so she got a law pass to say that hair braiders no longer in New Jersey no longer have to have have to have a cosmopology degree. They instead just have to have an OSHA certificate certificate. And OSHA is just like the protective arm to make sure you're treating your employees correctly and stuff
like that. So how like that's I mean, it seems like it's a small thing, but like this is going to transform those women's lives that they can they can operate openly and legally and really grow their businesses because now they're not required to get this like the certificate that has nothing to do with what they're doing. And I just love Angela for that. She is always looking for ways to to like how are everyday people struggling?
And how do I make their lives better? And like I said that that was this is like her third law, a third law only being in office for three years. Like that's incredible. Like she she's incredible, you know, So it was a pleasure to work with her.
Hopefully it's just the beginning, my friend. Amen, Well, congratulations, that is a good way to start the year, right. You know, I got my countertops, you got your bill passed, You're doing okay. A year ago, you didn't have a budget EASTA bill a year ago on and have countertops. O. Hey, like we're doing okay.
Perspective, We would love to hear honest sleep from you guys, like, so, how is your year? Like yehie, I know you're gonna give to your resolutions, but how is your year going? I know it just started, but share something good, you know, let's set the tone for an awesome, awesome new year.
Positive vibes only,