+@
>>>
>>> SHE'S
>>> SHE'S BEEN FEATURED ON "GOOD MORNING A+@MERICA,"
"ESSENCE,"+@ SO MANY OTHERS.
SHE IS HERE TO HELP US IMAGINE
OUR BUDGET.
OUR BUDGET. GOOD MORNING.
GOOD MORNING. >>> TIFFANY.
>>> TIFFANY. >> THANK YOU FOR HAVING ME.
>> ABSOLUTELY.
>> ABSOLUTELY. I KNOW THIS IS SOMETHING PEOPLE
ARE THINKING ABOUT.
THEY ARE PROBABLY LIKE,
"THERE'S NO WAY.
I CAN BARELY ACED FOR TO PAY
FOR THE NECESSITIES AT
THIS POINT."
THIS POINT." WHAT'S YOUR ADVICE TO THOSE
INDIVIDUALS?
INDIVIDUALS? >> MY ADVICE IS+@ TO CALCULATE
WHAT I LIKE TO CALL
YOUR NOODLE BUDGET.
SO YOUR NOODLE BUDGET IS, IF
YOU HAD TO EAT RAMEN
NOODLES -- REMEMBER THOSE DAYS,
COLLEGES, MAYBE EVEN
NOW, MEANING WHAT ARE YOUR BARE-
+@
+@ BONES
+@ BONES ESSENTIALS
BONES ESSENTIALS EXPENSES, AND THE WAY YOU +@
CALCULATE THAT IS TO ASK
YOURSELF TWO QUESTIONS, IS +@TH
SOMETHING I NEED TO
MAINTAIN MY HEALTH?
IS THIS SOMETHING I NEED TO
MAINTAIN MY SAFETY?
EVERYTHING ELSE, QUITE
HONESTLY, IS A LUXURY.
SO JUST PAY FOR THOSE EXPENSES
FIRST, AND MAKE THOSE
YOUR PRIORITY.
YOUR PRIORITY. AND IF YOU HAVE ENOUGH TO DO
MORE, THEN YOU CAN DO
MORE.
MORE.
MORE. AND
MORE. AND IF YOU DON'T HAVE ENOUGH TO
DO THAT, THEN REACH
OUT FOR HELP.
RIGHT NOW, THERE ARE FOOD
KITCHENS THAT ARE OPEN AND
FOOD PANTRIES.
FOOD PANTRIES. YOU MIGHT HAVE TO LOOK INTO A
SHELTER.
SHELTER.
SHELTER. YOU MIGHT NEED T+@O MOVE IN WIT
A RELATIVE.
A RELATIVE. DON'T WAIT.
DON'T WAIT. ASK FOR HELP.
>> WHAT ABOUT PEOPLE RECEIVING
THOSE STIMULUS RELIEF
CHECKS PEOPLE ARE RECEIVING?
IF THE BILLS ARE PAID, WHERE
+@ SHOULD SOME OF THAT
MONEY BE GOING IF THERE IS EVEN
A FEW DOLLARS EXTRA?
>> SO SAVE, SAVE, SAVE.
DURING RECESSION THEIRRY TIMES
LIKE THIS, IT IS
IMPORTANT FOR YOU TO HAVE A
STRONG CASH POSITION,
BECAUSE ONE, WE DON'T KNOW HOW
LONG THE ECONOMIC
DOWNTURN IS GOING TO LAST,+@ AN
WE DON'T KNOW IF THE
INCOME YOU HAVE COMING IN IS
GOING TO CONTINUE TO
COME IN.
COME IN.
COME IN. ILL PUT THAT STIMULUS CHECK IN
AN ONLINE-ONLY
AN ONLINE-ONLY SAVING+@S ACCOUNT, BECAUSE TWO
THINGS, ONE, YOU'RE
GOING TO EARN HIGHER INTEREST,+
BECAUSE THOSE ARE
ONLY BANKS.
ONLY BANKS. THEY DON'T HAVE THE SAME
OVERHEAD AS A +@REGULAR BANK.
TWO, IT WILL MAKE YOUR MONEYEN
CONVENIENT.
CONVENIENT. BECAUSE THERE'S A 24 TO 72-HOUR
WAIT TO TRANSFER
YOUR SAVINGS TO YOUR CHECKING
IN A REGULAR BANK.
>> HOW SHOULD PEOPLE BE
ADDRESSING DEBT NOW?
>> NORMALLY I'M SOMEONE WHO IS
LIKE BE AGGRESSIVE IN
PAYING OFF YOUR CREDIT CARD
DEBT, BUT NOT DURING
THESE TIMES.
THESE TIMES. AS I MENTIONED BEFORE, CASH IS
QUEEN, AND I REALLY
WANT YOU TO HAVE A STRONG CASH
POSITION.
POSITION.
POSITION. I WOULD BE PAYING THE MINIMUM
TO MY CREDIT CARD
DEBT, AND PUTTING THAT EXCESS
IN MY ONLINE-ONLY
SAVINGS ACCOUNT UNTIL I HAD SIX
MONTHS OF ESSENTIAL
EXPENSES SAVED.
EXPENSES SAVED. +@SO+@ SIX MONTHS OF NOODLE BUD
SAVED.
SAVED.
SAVED. WHEN YOU HAVE THAT, YOU CAN GO
BACK AND PAY A LITTLE
MORE TO YOUR DEBT, BUT NOT
+@ RIGHT NOW.
RIGHT NOW. >> OKAY.
>> OKAY.
>> OKAY. I'VE HARD YOU MENTION THIS
BEFORE, ACTUALLY, THAT
YOU CAN WORK WITH NEGOTIATING
WITH YOUR CREDITORS.
NOW, I'VE NEVER DONE THIS, BUT
HOW DOES THAT WORK?
>> YOU CERTAINLY CAN.
YOU CAN NEGOTIATE WITH YOUR
SERVICE PROVIDERS.
SERVICE PROVIDERS. THIS IS YOUR CREDIT CARD
COMPANY, YOUR LANDLORD,
MO+@RTGAGE, INSURANCE, ANYONE Y
TAKE BILLS TO.
EVERYONE KNOWS THERE IS
FI+@NANCIAL HARDSHIP PROGRAMS
YOU MIGHT QUALIFY FOR.
ONE, JUST PICK UP THE PHONE AND
CALL, AND BE HONEST
BECAUSE OF WHO'S CURRENTLY
HAPPENING, EXPERIENCING
HAPPENING, EXPERIENCING FINANCIAL HARDSHIP.
FINANCIAL HARDSHIP. +@
FINANCIAL HARDSHIP. IS THERE SOMETHING YOU CAN DO.
YOU CAN GET YOUR RATES FROZEN,
REDUCED.
REDUCED.
REDUCED. YOU CAN GET PAYMENTS FORGIVEN.
YOU CAN HAVE PAYMENTS ADDED TO
THE BACK END.
THEY HAVE A WIDE RANGE OF
RESOURCES THEY HAVE ABLE
TO HELP YOU.
SO ASK FOR YOUR HELP.
>> I, YOU KNOW, WITH THOSE
FEDERAL STUDENT LOANS,
THEY WERE TRYING TO OFFER HELP.
ANY OTHER ADVICE YOU CAN OFFER
PE+@OPLE DURING THIS
TIME?
TIME?
TIME? >>
TIME? >> YES.
>> YES.
>> YES. I
>> YES. I WANT YOU TO LOOK INTO -- IT'S
NOT FUN TO THINK
ABOUT IT, BUT LOOK INTO LIFE
INSURANCE, BECAUSE
INSURANCE, BECAUSE FOLKS ARE UNFORTUNATELY LEAVING
US SOONER THAN THEY
ANTICIPATED, SO HAVING LIFE
INSURANCE TO MAKE SURE
YOUR FAMILY IS CONTINUED TO BE
+@
YOUR FAMILY IS CONTINUED TO BE PROVIDED FOR WHEN
+@
+@ YOU'RE
+@ YOU'RE NO LONGER +@HERE.
SO I DEALEY SUGGEST TERM,
+@ BECAUSE IT'S LESS
EXPENSIVE, AND YOU CAN GET
MORE.
MORE.
MORE. YOU
MORE. YOU WANT TO +@HAVE LIFE INSURAN
THAT F+@OR 10 YEARS,
YOUR FAMILY WANTS TO HAVE THE
INCOME YOU BROUGHT IN.
SAY YOU MAKE $50,+@000 A YEAR,
50,000 TIMES 10 IS
$500,000.
$500,000.
$500,000. THAT'S THE AMOUNT YOU'D WANT TO
GET THROUGH YOUR
FAMILY.
FAMILY.
FAMILY. OR IF YOU HAVE DEBT THAT YOU
LEAVE BEHIND, GET LIFE
INSURANCE TO COVER THAT DEBT.
REALLY THINK ABOUT PLANNING
BEYOND WHAT'S JUST
HAPPENING RIGHT NOW.
>> OKAY.
>> OKAY.
>> OKAY. I KNOW YOU SHARE A LOT OF
+@RESOURCES ON SOCIAL +@MEDIA,
BUT WRACK FOLKS FI+@ND MORE
INFORMATION IF THEY WANT
TO SEE SOME OF THESE TIPS YOU
WERE MENTIONING TODAY?
>> YEAH, CERTAINLY.
YOU CAN FOLLOW ME.
I HAVE A BLOG, THE
BUD+@GETISTABLOG.COM.
BUD+@GETISTABLOG.COM. THAT'S WHERE I SHARE THESE
TIPS, AND MY WEB SITE,
THE BUCKETISTA.COM.
THE BUCKETISTA.COM. SOCIAL MEDIA IS GREAT, BECAUSE
IT'S RIGHT THERE.
AS SOON AS SOMETHIN+@G HAPPENS,
TRY TO MAKE MYSELF
AVAILABLE TO SHARE FREE TIPS.
>> THANK+@ YOU SO MUCH FOR
SQUEEZING US INTO YOUR