April 20, 2020


Crystal Washington: Hello, I’m Crystal Washington, Technology Strategist, and Futurist

Karen McCullough: and I’m Karen McCullough, the millennial evangelist who helps you deal with change. And today we want you to rethink it forward

Crystal Washington: And by rethinking it forward, we mean that there are some things that have worked for all of us in the past that probably won’t work for us in the future. And if we were to be really honest, they’re not always working for us right now.

Karen McCullough: Right. Well, it’s money Monday, my favorite day, my favorite date. So what have you been doing to save a little money?

Crystal Washington: Oh, Karen. Uh, well I wax my mustache. Um, today I did my own eyebrows cause it was starting to look like two caterpillars. So that’s, that’s two pretty major things I did myself. What about you?

Karen McCullough: I cut my own hair. I see it sticking out over here. But I went through and I see last week I looked at myself on the, uh, on the, on the video and I went, Oh, that hair. So I hope my stylist isn’t listening. I love you. But I did, I went through and I am to cut my own hair. Now. I didn’t get to the bat. So if we go on, we’re in here another two months, I’ll be putting up the back and just wait, are you going to have a mullet or it could be a mullet.

Crystal Washington: Well, but you know what we’re saving. That’s all that matters. Karen,

Karen McCullough: So talking about savings, I wonder how many of you have already received your stimulus? Check the $1,200 because the day they are going out, but if you want, you can download an app. The US treasury and the IRS came up with an app. It’s called get my payment and we’ll put the uh, the information below. But you can track when your check is going to come and how it’s going to be either deposited or if you’re going to get a check. So I think that’s good. We’re kind of taking control of something that we can control and that’s our money.

Crystal Washington: You know, speaking of government incentives and the cares act and things like that. Karen, I don’t know if you saw but I think it was just yesterday. Well, no, just recently, not yesterday, but recently. Um, it was approved that square and PayPal and some of those uh, FinTech companies, I could actually process those payroll protection plan loan slash grants from the government as well. So if you’re still waiting to get in with your larger banks, Wells Fargo finally let me in. They let you in and keep in mind I was near the top because I kind of have some inside connections with the bank, so I was near the top, but still, it took so long for me to get in. Like it took me over a week after I came to sign up so they finally opened up. But for some people, because they’re so limited funds and I think, you know, at this point over 80% of the funds are already right unless they add some more. So go for wherever you can get it. So if you want to go to square or PayPal and apply through them, go for it.

Karen McCullough: That’s pretty cool. They were talking about the stock. I love the stock market and they were about how more and more people are using PayPal and credit cards than ever before because there’s no more cash exchange. So, um, it’s interesting. PayPal and square, I’ll put that on my list. Yeah. So, uh, I love, like I just said, I do love studying the market. In fact, it’s my number one hobby. I like to really invest my own money. And so every morning I have my cup of coffee and I turn on CNBC and I think that for some of you out there, this might be a really good habit. You’ll hear CEOs talk about their business and you’ll begin to see where we may land when this is over. So this morning I was watching CNBC. It’s my favorite channel and I love watching squawk box.

Karen McCullough: It starts at 6:00 AM I’ve got my coffee and I listened to the guys on squat box every morning. And why do I think this is important for you? Because I think we need to take control of our money. We need to understand where we are going to land, what companies are going to be okay when this is over and maybe take a little bit of control in your 401k and your investments. But that’s not what I want to talk about today. That’s probably a whole nother money. Monday I want to talk about today, the CEO of Quicken loans, his name is Jay farmer and Jay was on today talking about this whole idea of people, right? Not paying their mortgage, feeling like they don’t have to pay their mortgage right now. And he said that this is misguided information. He said, you’ve got to think of this.

Karen McCullough: There’s a word out there called forbearance and forbearance means that you take what you owe maybe this month and next month, maybe even the following. You call your lender and you put that on hold, but guess what? You pay it back so you have to take that money and you pay it back. So if you have four barons for three months, month number four months, number five months number six, you’re paying the loan back. So I think we have to be really careful because sometimes we’re hearing things and um, they’re not all true. So I want you to make your rental payments if you can and pay that house payment or call your lender.

Crystal Washington: I think communication is key right now. You know, I’ve seen some really interesting conversations on Facebook, Karen, where people are talking about how they shouldn’t have to pay rent. Right? I think that some people don’t understand that a lot of landlords aren’t big corporations. Like sometimes it’s like retired teachers, that’s their only source of income or they’re just trying to pass something on to their kids. And so if we can afford to pay, we should always pay as my opinion. That’s just kinda how I believe in living here. Then certainly reach out. You know, I’ve, I’ve seen cases where there’ve been landlords who have basically given their tenants free rent for a whole month right now. So some of them thoroughly did that, which is wonderful and it shows where their heart set. But you know, I think we also have to think about the fact that I think Colby 19 shown us Karen, just how connected we are. And it’s not just health, it’s finances as well. So if everyone just stops paying rent, especially to those small mom and pop owners,

Karen McCullough: it’s going to just be a huge ripple effect. But even to the larger companies as well. So if we think we’re getting over versus we do legitimately have a neat, because it’s going to come back and bite us, all of us. So with that biting us, I think we’re going to close it down for this Monday and we will see you again on Wednesday. Now if you have any, any ideas or suggestions on how to save money, please put them in the comments and I’ll put that website and that app in the comments too. Thank you guys. Cut your own hair. Okay.