In this episode of The Good News, Angie Austin and Jim Stovall delve into the winner’s wisdom column titled ‘Cash is King.’ They explore the pervasive culture of debt and the importance of financial independence. Jim shares practical advice on reducing high-interest credit card debt by utilizing credit unions and demonstrates how a shift in mindset towards money can positively impact one’s future. Through exploring key concepts of saving, spending, and wise consumerism, listeners are empowered to tackle financial hurdles head-on.
Welcome to The Good News with Angie Austin. Now, with The Good News, here’s Angie.
SPEAKER 05 :
Hey there, friend. Angie Austin here with The Good News with Jim Stovall, and we are talking about his Winner’s Wisdom column, and this week it’s titled Cash is King. Oh, this is a good one, Jim. What’s this all about?
SPEAKER 02 :
Well, you know, we are all bombarded with so many advertising messages and emails and pop-ups and everything in the middle of our TV and radio and everything. And it would be interesting to learn what is the most advertised thing there is. You know, it’s not cars. It’s not soft drinks. It’s not potato chips. It’s not travel. The thing that we are most sold is debt. Whether it’s credit cards, whether it’s student loans, whether it’s home loans, whether it’s car loans, everybody wants to loan us money. And we have to remember, whether you go to Ben Franklin, a penny saved is a penny earned, or the scriptures that the debtor is enslaved to the lender. And you have to realize that this is just a bad way to go. But we’ve already had a housing crisis in 2008. Then we’ve had the student loan crisis. And now we’re getting ready to have a major credit card crisis. Coming out of COVID and things, I am told now that one in five American families have $30,000 or more in credit card debt. And at an average rate of 22%. And Angie, if your listeners don’t get anything else out of our conversation on this today… If you’re one of those and you have that kind of credit card debt you’re carrying and you have a rate approaching 20% or 22%, which is the average, some are more than that, I want you to do one thing this week. In your town or your city, wherever you live, close to your home, there is a credit union. And the average bank card right now is charging you 22%. The average credit union only charges their members 12% on credit card debt. Well, that difference of 10% on a $30,000 debt is $250 a month. And you can wipe out a lot of debt and take care of a lot of things for $250 a month. And it’s simply for transferring your balance back. from a bank to a credit union in your hometown, and it’s easy to do. So I would encourage anybody, you know, first and foremost, get rid of that credit card debt as quickly as you can. But while you’re doing it, you will erase it so much quicker if you will just get that rate down to, you know, the average of 12% and save $250 a month.
SPEAKER 05 :
You’ve been helping us a lot with money the last few weeks. I think it was two weeks ago we talked about missingmoney.com. And you were saying that people need to go there because the U.S. government or different corporate entities, they turn in the money and then it gets listed on this website. And then you might have to go to your state website, but you can check all the states you’ve lived in. And we found a significant amount of money for my mom. But then I found for myself, I used to work for NBC in Los Angeles. I must have done like some side job or something. And I knew I did something for a soap opera. But I had one payment for $122, which already came in. And then the bigger ones, you have to get it notarized. And I’m looking at one here. $65, no big deal. Salary and wages, NBC Broadcasting Company, $65. Insurance premium from New York Life. I worked there right after college, $169. And then I have one more that’s over $1,000. And so I just have to get these notarized, and then they send you a check. But one that was small for $122, it already came in. I already put it in the bank. And that was like, you know, what we put. We talked two weeks ago. And so, yeah, it’s pretty fast once you get it going. And these are through California. And then I had one through Colorado. So anyway, it works. So check in my mom. Like I said, I think my brother found six different. Well, I found it for him. And then she’s with him now. So he’s handling it. But it’s surprising how something just can kind of get lost in the wash when you move, you know.
SPEAKER 02 :
Well, the Winner’s Wisdom column is read by, they tell me, somewhere between 2 and 3 million people. Probably half of them are in the United States. And that column has been out a couple weeks. But just in the first few days after it happened, we heard from people. And we quit counting at 100,000. It’s probably half a million dollars or more now. That has come from just people. Go look at missingmoney.com. It’s just that simple. And, wow, there’s money on the table. Pick it up. It belongs to you.
SPEAKER 05 :
Oh, I should check my dad’s name, too. I checked some of my cousin’s parents’ names, and you’d be surprised at deceased parents’ things that have come up as well. All right, so let’s get back to this week, then, since I just wanted to say thanks for that one. Cash is king, so go to the credit union. And there are other cards, if that doesn’t work for you at credit union, that will also let you roll over and get your debt onto a lower interest rate card and just start paying more than the minimum.
SPEAKER 02 :
as well yeah i mean you know debt is your enemy you’re at war with debt but you’re in a battle with your interest rate and you can you can impact that right now and go do it and now whatever you do do not transfer that balance somewhere else and now you realize well i’ve got this bank card completely empty over it let me run that up again no this is time when you quit borrowing money you know when you know when you earn money You trade your time today for someone else’s money, for your expenses. When you borrow money, you’re mortgaging your future and your children’s future and your grandchildren’s future, and it’s just ridiculous what you do. It’s just so much easier to do that. One of the things I’ve done is, once you’ve got cash, and I haven’t borrowed money in 40 years, I did it once, and it scared me to death, and I’ve been on a cash basis ever since. People say, well, Jim, you can’t get into business without borrowing money. I own a television network and make first-run movies with studios. I don’t know anything more capital-intensive than that, and we don’t borrow money. So you may have to get strategic partners. You may have to do some other things. But several amazing things happened. I have offices and studios here, and Every year we renegotiate with the building people, and I always remind them, I’m different than any other tenant you have because I’m going to write you a check for the whole year up front. And I get about an 18 to 20% discount just for doing it. Well, I don’t know anywhere else you can go get 20% guaranteed on your money just because you did that. And then our bills come in every day in the mail just like everybody else’s or email. And we pay them the day they come in. Most companies and people, well, they wait until the end of the month and they write all the checks at once. We pay them the day they come in because when I need a vendor, when I need a product or a service or some special out of one of the peoples that supply us, I can just call up and say, hey, I need your help. You’ll remember me. I’m the first check you get every month. And we need some help here. And you become a super consumer when you do that and you pay cash for everything. So cash is king. Debt is your enemy. And, wow, it’s just a great way to live. And the best money you will ever have, the best thing you will ever buy with money is a six-month emergency fund. So every time the car starts smoking or the refrigerator makes a weird noise or the roof starts leaking, you know, a calamity anymore. It’s not a tragedy. It’s an inconvenience. It’s not that big a deal. And you can just change your life by getting all that noise out of your world.
SPEAKER 05 :
You know, I was, I think, 16 when I took out my last car loan, and it was $3,000 or $4,000 for like a 79 Camaro or something of the sort that my grandmother co-signed with me. And I… Then after that, you know, because I graduated without any student debt, I actually graduated and I had $12,000 in the bank and I paid for all my books, all my tuition, lived in low income housing, worked full time. And that, you know, obviously was a long, very decades ago. So after that, I paid cash for all of my vehicles. I haven’t had a loan since, and we just bought a new car, which we don’t do. Our cars were a 2000 Chevy and then two SUVs that are a 2003 and a 2006. So I got a Tesla, and I know people have mixed feelings on those, but there’s like a $12,500 government incentive right now, 75 from Tesla. The federal government and then five thousand because I’m based in Colorado. They give a tax break on. And so anyway, we paid cash for that. And it’s just such a good feeling having grown up poor. I was just with a friend of mine who’s been out of work because of the Hollywood strikes, you know, with the writers and the actors are still striking, as you know, because you’re getting ready to work on a movie.
SPEAKER 01 :
Yeah.
SPEAKER 05 :
And so she’s been out of work for eight months. And she last time we were together on a trip said, you talk about money too much. Stop talking about money and you worry about money too much. Well, what’s interesting is that we just were together and I paid for everything for her because she’s been out of work for so long that she has huge credit card debt. And I, having worried about money all these years, and I wouldn’t say worried. I’ve just been frugal because I’ve been poor. She doesn’t have retirement savings. And I am proud to say I have a very healthy retirement account because I saved so much in my 20s and 30s. And so I said to her, maybe there could be a good combination of the two of us. maybe i you know am too conscious of always you know getting the best deal or saving like i told you just bought a ticket back from california for 24.98 you know because i look for these deals i don’t need to fly first class i don’t need a ton of luggage but i think she’s seeing that maybe my um frugality um and i’m not cheap though i always leave a 20 25 tip i’d say more like 25 like i’m very i bought all her tickets to universal i bought her tickets to the pumpkin festival I gave her money for groceries. I bought all of her meals because I know right now she’s in a bind. And so she sees I’m not cheap, but that I’m frugal. And there’s a difference there, that I’m kind of thrifty. So I think she’s seeing that maybe… I don’t know. She didn’t make any comments about me talking about money or savings too much. But I distinctly remember the disdain in her voice when we were at Disney World a few years ago and she wanted to go to some expensive restaurant. And I said I wasn’t a foodie and it really wasn’t my cup of tea. And she’s like, you talk about money too much and you worry about money too much. And you’re worried because I would tell her like a deal I got or something because it’s kind of fun to get a really… I mean, come on, when you get a ticket home from California for $24.98… You know, I’m like, hey, that’s a great deal. But guess what? That same day, her son bought a ticket out of the same airport I use because there’s an airport outside of L.A. called Ontario, and it’s much smaller, and it’s easier to fly out of, and there isn’t as much traffic, and it’s hardly any further than LAX for me. So anyway, to make a long story short, he bought his round-trip ticket out of that same airport. So I thought, hmm, well, maybe these people are catching on to my ways. Yeah.
SPEAKER 02 :
There you go. Now, sooner or later, you will worry about money. You’ll either worry about it in advance or you’ll worry about it after the fact. And it’s always more expensive to worry about after the fact. If you’re old enough, you remember those old Fram oil filter commercials where They’re junk in a car, and the mechanic says, you can pay me now or you can pay me later. And, you know, pay me now is buy the oil filter. Pay me later is you need a whole new engine. And, you know, worrying about money is just a matter of taking care of it. You know, money’s not the most important thing in the world. But it affects the things that aren’t the most important things in the world, our family and our friends and the things that we do that we take care of each other. So it’s a tool, and you do need to take care of it, and then it will take care of you.
SPEAKER 05 :
You know, I was also with, oh gosh, I have to tell you this really quick. My old cameraman friend from NBC, we hadn’t seen each other in 23 years and we met for lunch and then I came to his house and he said, boy, when I covered the OJ Simpson case, we called it OT Simpson because he was telling me how much his take home was. Well, it’s suffice it to say these cameramen were making in the $200,000 to $300,000 range because the overtime was unbelievable when they would be camped out at the courthouse all day. And he said, Angie, I said, oh, how much do you save? Because, Jim, the majority of my retirement savings was for my 20s and 30s when I worked for these big, you know, NBC and Fox and all these big stations. Anyway, he said nothing. I spent it all. And and then when we went to his house, he had tons of collectibles. He had five sheds full of collectibles. So when we left, I said to the kids, I said, that’s the difference, you know, in how. I don’t have five sheds of collectibles, but I also have retirement money because I saved in my 20s and 30s. And it blew my mind that he’s like, yeah, if I were to save some of that money, life would be so much easier now. So I just it’s interesting, you know, to see the difference in choices people make. All right. We’re out of time. Jim Stovall dot com. Friend, it’s always so fun. The time just flies by when we talk. Thank you, Jim. You’re a real blessing to our program and to me. You’re the best.
SPEAKER 03 :
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SPEAKER 04 :
Lyman is listening to the Mighty 670, KLT, Denver.
SPEAKER 05 :
Hi, friend. Welcome to Good News with Angie Austin. Joining us is Erica Gimpel. You may know her from Criminal Minds, the Fane TV series, and ER. She’s now starring in Bang Bang, and she’s here to discuss the film’s theme of family, legacy, and redemption, as well as her career. Welcome, Erica.
SPEAKER 04 :
Thank you so much for having me.
SPEAKER 05 :
You are welcome. Well, it looks really powerful. So kind of give us the background on this retired boxer and the whole theme of the movie.
SPEAKER 04 :
Well, I really think it has a lot to do with expectation. And especially if in boxing, like he has a, I don’t want to give too much of the film, like I want people to see it, but he, he had a fight that was going to be his everything that was going to be determining his legacy and, And the fight did not go the way he thought. So it really looks at what happens when, in a sense, a dream is deferred. But what do you do with that moment? And this is a man who holds on to that and it festers. And it becomes something very bitter and drives him throughout his whole journey. And so what the film really looks at is in this time period of the movie, what he awakens to and what boxing became for him in the course of his life. And what I loved about this movie and what I love about the movie is that it really is an homage to boxers, meaning that it really looks at the hidden scars that a lot of boxers carry and the percentage of what happens to boxers after their time in the ring. And I really think this man awakens to that in a very unique way, the way the film goes about looking at this man’s journey.
SPEAKER 05 :
Yeah, it’s a unique breed of person that gets into boxing. There’s so much involved in not just the physical aspects but the mental aspects of really taking your body to the brink of almost killing yourself in some cases where you continue to subject your body to that but then mentally can keep trying to win. And then what’s behind that? Is there like rage there? Is it an attempt? You know, a lot of these boxing clubs back in the day, you know, were in areas where maybe this was the kids way to get out of their neighborhood or whatever it may be. And so, you know, they’re fueled with a desire to succeed. And maybe this is the only way they see out and then to succeed. lose out on his chance per se and then to maybe get another chance not himself to box but I know that it involves someone that’s been estranged in his life so I’m curious what drew you to Bang Bang and to the character?
SPEAKER 04 :
Well I have to give a shout out to the most incredible casting director who has brought me projects six other times and he brought this to my attention and I was very blown away because this is a moment, and my character’s name is Sharon, and she’s just come through a double mastectomy. And she and Bang Bang were lovers early when they were both on the rise in their careers. She was a singer. She still sings in a bar that she owns. But this double mastectomy that she’s walked through, she’s really making a complete life change to live. So for her, it’s what I loved about their relationship in this movie, that he’s become very bitter by what’s happened. And with her, you see this caring side of him. And also they give each other a soft place to land with both of the scars they’ve walked through in life. Life hasn’t been easy for both of them. And you just get to see this moment of solace that they give to each other and which I’d never seen on film before. I don’t want to give it away, but it’s just the intimacy of seeing people’s physical scars on them, but also the internal scars we have in life. And how do we carry them? And she’s really made a conscious choice to live. And that’s what’s in front of her. So I found that it was just a very… a very powerful look at, you know, being in Detroit, being that we’re, you know, I feel like this movie is really resonating right now because of how challenging it is right now in our country and people struggling with work and jobs and prices of things are so expensive and, having Detroit be a big part of the film is really big, looking at a place that was at one time thriving. And I know there are pockets of Detroit that still have incredible culture. It’s not that, but it’s just kind of the larger picture of, like, wow, where something was really thriving and now it’s struggling is a symbolic nature of what’s going on in their lives as well.
SPEAKER 05 :
It sounds like maybe your character, Erica – has experienced maybe a lot more growth and healing in the movie than your former boyfriend.
SPEAKER 04 :
Yeah, she’s at the beginning stages of committing to that. So you’re watching her also get stronger and stronger in her commitment to her life. And that’s powerful. That’s really powerful.
SPEAKER 05 :
Is there any of the scenes that were particularly challenging for you to shoot? I mean, I can imagine the connection, you know, being in Detroit, being in these scenes that are probably pretty moving. Anything that was particularly challenging or maybe memorable to shoot or even fun for that matter?
SPEAKER 04 :
Yeah, there were, I’ll just say two scenes. It was the bar scene. You know, I hadn’t, a lot of time as a bartender. There’s a certain kind of flick you got to have when you’re pouring bourbon and pouring, you know, that kind of thing. And so the hotel we were staying at, I met the night manager. He was like, One night he stayed up with me for three hours. He was like, I’m going to open the bar for you. You pretend that I’m your client and come in and, you know, I’ll show you. He gave me the most incredible bartending lesson. Like in a couple hours. And it was like, it was just so beautiful. And I just feel like as actors, we’re always going, okay, how can I learn? How can I make this more? You know, and you just utilize what you have with you, you know? And so that was really a fun moment. And I really felt the scene with Tim and I, I don’t want to give it away, but there’s more of like an intimate scene that we share, and that wasn’t easy for me to film, but it was the reason I wanted to do the movie, because I’ve never seen a woman bearing her scars of a double mastectomy. I’ve never seen that on film. Oh, yeah, yeah. Yes, and really seeing behind the wig, behind the scarf, And what does it mean to be intimate with a partner when you come through that? And I felt like that was, and it’s not just about that. It’s more of their relationship and what they’re, you know, the solace they’re giving to each other. But it was something really powerful to film. And I was able to really, it’s almost like a painting in a sense of like myself and the wonderful makeup artist named David Atherton, who’s actually Tim Blake Nelson’s, personal makeup artist. And we really came up with the way the scars were going to look and how my head was going to look and the bits of hair that are there or not there. We really came up with a whole character. And so that was really what drew me to this was showing those intimate moments that I have not seen on film. And you’ve got it.
SPEAKER 05 :
I’m sorry, I didn’t mean to step on you. You’ve got a pretty diverse career, I know. Yeah. We mentioned you did Criminal Minds, A Fame, Chicago Med. I know you’ve done some Grey’s Anatomy, ER. I mean, Veronica Mars. I mean, you’ve had a really long career. Are movies a lot different to shoot than a series?
SPEAKER 04 :
Yes. I mean, because, you know, you’re very specifically on this one character for this amount of time. And so it can be very intense because you’re so focused on that, which I really love. And on a series, you have the opportunity of developing a character over a longer period of time, which has another gift to it as well. but it really depends on the heart of the film. I mean, this was a, I’m going to call it a gritty, raw, more of a raw piece. So I, that’s why I like being on location because you really pick up the vibe and every, everybody who’s come to either flown there to be a part of it, you just, you’re all together. And so there’s a sense of, okay, we’re going to, we’re in the trenches together. We’re going to make this work. And it’s different than coming back to your home when you’re at home working, you know, it’s just, it’s different. And I, I like, You know, it can be challenging being allocated, but it’s also, but it really puts you a complete commitment to what you’re doing and where you are, which I really like. And I feel like that shows up on the film.
SPEAKER 05 :
How long did it take you to shoot the film?
SPEAKER 04 :
Well, I think they did it in 18 days, but I was just down there, I think, for two weeks. So I wasn’t there for the full amount of time. Because I’m not in throughout the whole entire film. So that was my amount of time being there.
SPEAKER 05 :
Now, it sounds like this was a pretty moving character to play with a lot of depth. Anything that the role or any of the scenes affect you personally or have an impact on you, which you’re walking away with saying, yeah, that really was something that I’m going to remember forever. Yeah.
SPEAKER 04 :
Yeah, thank you for that great question. It really felt to me about, again, going back to when life throws you this obstacle and you make a choice, I’m going to live, I’m going to change the way I’ve been living, what that kind of resilience looks like when you’re in the same environment. This character works in a bar, so she’s serving everybody she used to drink to in her life, and now she’s choosing not to. She’s choosing to change her patterns and what that takes, that strength of character. I felt like I had a lot of respect for that. And just I walk away with a reminder of that kind of resilience when you’re really looking to have a healthier life, when you’re committing to living your life in a different way. That resonated with me a lot.
SPEAKER 05 :
And in terms of watching the film, is there a website that you’d like to send us to to get more info? I mean, it was really easy to find. The Bang Bang trailer is pretty cool.
SPEAKER 04 :
Yeah, I know. I don’t know where you are, what state you are in. I’m sorry. But it’s, you know, it’s now being released in a very unique way because it was just in L.A. and New York. And I know it’s going to Arizona. It’s going to different states now. So it’s opening around the country. So I think if you just Google Bang Bang and show times locally, I think you’ll be able to see if it’s playing closer to you. That’s what I would just say at this point.
SPEAKER 05 :
Okay, and then I’m also curious, what’s next for you?
SPEAKER 04 :
Oh, thank you for that question. I have written a film that I’m going to be directing and acting in, and that’s been really my, I call it my love project, and it’s dedicated to women of a certain age. And it’s called Rise, and it’s really about this character really loses a lot in her life, but then comes to realize it’s never too late to reclaim your life and rise.
SPEAKER 03 :
That’s pretty cool.
SPEAKER 04 :
Yeah, and it’s really for women. It’s my dedication to women to really know that we can always reclaim ourselves no matter how much we’ve lost.
SPEAKER 05 :
That’s neat. I have two friends that you remind me a little bit of. My girlfriend, Beatrice, she’s the drill sergeant of life. She was a drill sergeant. She always wanted to be an author. And she’s been like a truck driver. She’s been a drill sergeant. She’s been a hairdresser. And she, in her 60s, has now gone back – to school to finish her bachelor’s and to go to law school to help other veterans and she lost her husband a few years back and it just blows my mind she’s um you know ministers to a lot of veterans and she said a lot of these kids you know came into the military really broken and from maybe sometimes some of them you know just entering at 18 from painful backgrounds. She’s dedicating her life to helping these people. In her 60s, I’m like, oh my goodness, I can’t imagine going back to law school at this point in my life. That is so cool. Of all your jobs that you’ve done, because you’ve had so many different acting jobs, what are a couple of your favorites and why?
SPEAKER 04 :
That’s a great question. I’ll just say, there was a show called Nikita a couple years ago with Maggie Q. And I love that arc, the arc I was playing. I was like a homeless woman, but you come to find out that I was behind the creation of this, I guess, organization that was taking people who were on death row and and taking them out of death row and turning them into incredible spies or or agents who are working and in a sense on behalf of something good but then unfortunately it turns into something negative but i just i loved I love that arc of being this woman who’s on the streets and you don’t know what she just really spoke to me about how much you’re speaking of your friend, how much as women we’ve done so much behind the scenes and we don’t get the credit for it.
SPEAKER 05 :
And that’s pretty neat. That was on the CW. I worked for a station that was a CW station that had the Gilmore Girls. So, yes, I remember that show being on. Oh, that’s so neat. Well, I’m really pleased that we got to speak today.
SPEAKER 04 :
Yes, me too.
SPEAKER 05 :
Thank you, Erica. And again, the movie is Bang Bang. Erica Gimple, thank you so much for joining us on The Good News. Appreciate it. Thank you. Have a great day.
SPEAKER 01 :
Thank you for listening to The Good News with Angie Austin on AM670 KLTT.
In this episode of The Good News, Angie Austin and Jim Stovall delve into the winner’s wisdom column titled ‘Cash is King.’ They explore the pervasive culture of debt and the importance of financial independence. Jim shares practical advice on reducing high-interest credit card debt by utilizing credit unions and demonstrates how a shift in mindset towards money can positively impact one’s future. Through exploring key concepts of saving, spending, and wise consumerism, listeners are empowered to tackle financial hurdles head-on.
