Me and Momma are just alike

00:01 Hello. Hello. This is Hill Hughen here with my mom.

00:04 Hello.

00:05 Valerie Hughen She is my mom. And I have four siblings, all boys, and I'm the oldest of them, and I'm looking for some advice and some. Some wisdom.

00:15 And you have a foster little brother.

00:17 Yeah, well, he's in the four. He counts as the four.

00:19 He's a fifth.

00:19 Yeah. One, two, three, four. I'm the fifth. I have four little siblings. Come on. How do I know more?

00:24 Okay, go ahead.

00:25 All right, this week, Thanksgiving. Thanksgiving break, my 18th. What has been your favorite part about Thanksgiving break so far this year?

00:35 My favorite part of Thanksgiving break is the last Thanksgiving that we know that you're home and the whole time that I've gotten to have you here. And next year, we'll be looking forward to you coming home for Thanksgiving. But this year, just having you home and going to celebrate with your oldest aunt in Gadston and just being thankful that she's still here with us. So it was a good Thanksgiving.

00:57 It is my. My last. My last everything.

00:59 It is your last everything.

01:00 But.

01:01 But we'll be so happy next year that you coming home.

01:05 Well, you got four more to get through, so.

01:06 Yeah, we. All right.

01:08 It'll be a long. A long Thanksgiving tradition. What is your favorite childhood memory from either Thanksgiving break or the holidays?

01:16 My favorite things.

01:18 It's, like, around this time period, like.

01:21 My favorite memory is the same memory over and over and over again, and it's just our big extended family getting together. That you're thankful that you're a part of that and can see that it's a different extended family, because so many aunts and uncles that you don't know that I got to celebrate with, but it's just different. But it's kind of the same thing. My favorite memory is just seeing having everybody together. The extended family.

01:42 It's getting younger, too. A lot of babies.

01:44 It is getting a lot younger. Yeah.

01:45 A lot of babies.

01:46 Yep. Which is why it's important to me for you to still spend time with Aunt Mona and Aunt Jessie because they're still part of that first generation.

01:55 What is your favorite item on the Thanksgiving dinner table?

01:59 Oh, gosh. You should have prepared me for these questions. Oh, take your time dressing chicken and dressing.

02:05 Dressing.

02:06 I know, but that's the only time of year you get it.

02:08 You would think that passes on to me.

02:10 No, I know. You wouldn't like dressing because you don't like casseroles.

02:12 I just like turkey. Turkey and rolls.

02:17 Mm. No, it's definitely dressing because it's the only time of year you get it.

02:21 All right, so those are done with the Thanksgiving and time period questions.

02:25 Okay.

02:25 Now this is an economic class and economic interview. And I know you're not a. You don't work in economics or didn't.

02:31 Major in Economics ii.

02:32 Okay. But you should have a much better knowledge of it than I do.

02:37 Okay, agree.

02:38 Do you remember taking any economic classes growing up or in college?

02:42 Yes, I do. Both in high school and in college.

02:45 Which one was the say prepared you the best?

02:49 I don't think either class prepared me for real life economics. I feel like it was more academic than it was life applicable.

02:57 Really?

02:58 Yeah. I don't know that it. I felt like. I felt like it was just things I had to learn. Yeah, right. But not, I don't think I was ever thought of how I was going to apply that to my life.

03:09 So you would say didn't. It would. So economics in the book was different than economics in the real world?

03:14 Yes, correct.

03:15 All right. So I'm hoping that's not the case. Hoping that education is.

03:19 I'm hoping a little bit. It depends on the teachers for sure, but hopefully they're preparing you better than mine did. But I also grew up in a completely different generation.

03:27 Really.

03:28 I don't think that like in any of my economics classes they said they talked about like credit cards or debt or things like that.

03:35 Do you wish you would have studied economics more?

03:38 For sure, with the right teacher? Yes, for sure.

03:43 What are one or two pieces of advice that you would give to someone my age on economic choices now, relative now? Not for when I'm say I'm a parent or getting older.

03:53 Like right now?

03:54 Yes, starting. Starting now.

03:56 To save at least, you know, you've got to put part of your paycheck into savings. You need to always plan on tithing to the church. So whatever your paycheck is, you just go ahead and divide that up.

04:12 So being prepared to save.

04:13 Correct. 20 or 30% into savings, 10% to the church, and then the rest can go into your bank account.

04:21 Any more advice?

04:24 No credit. Stay away from credit always. Like you could go out now and try to get a credit card, which is.

04:29 Yeah.

04:29 Crazy and scary. Yeah, scary, scary.

04:32 What do they base credit like, score off of? If you don't have a loan, you.

04:36 Have to get your. I mean, once you have your first job, they'll go, you're making this much.

04:40 Money and they base your credit score off of that.

04:42 And then your next credit score will be off of that credit score. Like what you did with that credit card. But you should always. Only I was told you should have one credit card that is paid off because you want to have credit. It's good to have credit. But I don't think you're mature enough to have credit. Yeah, I think that's something. No, I think that's something that comes with maturity, for sure.

05:03 Would you say getting a loan and working with the banks has changed a lot? Like as.

05:08 I don't know, because I didn't do it a long time ago. Yeah, that would be something. I would think so. I feel like in my parents generation, I remember they knew their bankers, they knew like there was like a personal relationship and now it's not at all. I think it's become major corporations and stuff like that. Yes, yes, for sure.

05:31 Okay. Do you have any major economic regrets or minor.

05:36 Yes, I got a credit card too early with my first job and Nordstrom at Nordstrom Rack. No, it was just Nordstrom. It wasn't Rack. It was the main Nordstrom. And I mean, I thought this is the greatest thing ever. And I. I think I like spent to my limit so quickly and just thought, oh, I'll pay it off. And it was just not. No, it was awful. I was not prepared. I mean, I had an apartment, I had utilities.

06:01 I had you all put on credit.

06:02 No, no, just my clothes. Just spent. Yes, just that one credit card. I maxed out. And that bill, you know, I didn't account for interest rates.

06:12 Oh, yeah.

06:13 And it probably had like a 25% interest rate.

06:15 And so we do learn about that in economics. But did you think about that?

06:19 Yeah, I didn't think about that. No, I just thought, this is great. I'm gonna go buy all cute clothes and I'll pay it back.

06:27 What were the interest rates like?

06:28 It was probably 20. 20, 25%. It was awful. I remember it was so bad. And so I learned my lesson.

06:33 Have you seen a lot of change in the interest rate?

06:36 Like they've gotten worse? Oh, yeah, they've gotten worse. Yeah. Yep.

06:41 Following into that, is there any major difference in economy now compared to when you were 18 year old? How so?

06:47 Everything is so much more expensive right now.

06:49 Inflation.

06:51 Inflation. You're not. I mean, well, the minimum wage has gotten higher, but minimum wage had to get higher.

06:56 Yeah.

06:57 Because everything is so expensive.

06:58 I remember granny used to tell me that they should go to the movies for like 25.

07:01 When I went, it was $5.

07:03 $5.

07:04 Which is crazy. That's crazy because I bought Rhett and his date A ticket the other night was 42. Yeah.

07:08 For two tickets. That's insane. You buy 30.

07:11 That's insane. That crazy because it was $5 for me to go to. Maybe.

07:15 Even though it's like, more, it still looks more expensive. I feel like the cost is, like, worse too. I feel like even though, like, money is worth more, like the dollar is worth more, it's still like, no, because $5 was probably still kind of reasonable. Even though, like, kind of maybe expensive at the time.

07:29 The dollar is definitely weaker.

07:30 Yeah. Yes.

07:31 Yes, for sure.

07:33 Did your parents push any economic advice or decisions over you? Is this, are these advice still relevant today?

07:39 I don't think my parents did a great job. I think they spoiled me too much. I think they paid for too much.

07:43 The only child.

07:44 I was the only child. They paid for way too much. They didn't. Like I said, I got that Nordstrom credit card and thought, yeah, I'll just pay it back. I don't have to tell them about it and I'll pay it back. I mean, I was 21 and they did not prepare me for what that was going to look like. Hopefully we've done a better job.

08:01 Did you learn anything from their small business, the pharmacy?

08:03 Yes, I did.

08:04 What was something you learned?

08:05 I learned well, so dad owned a home infusion company first and then he sold that and then they started the home health care company. And I learned a lot about insurance and small business insurance. I learned about being self insured. I learned about having employees and having to play pay employees and demands of employees and the demands of the economy and suppliers and everything else. Yeah, I learned a lot.

08:33 Too bad you don't own a small business.

08:35 I don't want a small business. I learned too much. That's the problem. That's the difference.

08:38 You say it's difficult.

08:40 Yes, yes.

08:42 I asked you this earlier, but what was your first job and do you regret it?

08:46 My first job was babysitting. I told you, girls had it way easier. We got to babysit. No, I don't regret it. I loved it.

08:51 And your first official job was Nordstrom?

08:54 No, my. That was not. That was my credit card. My first credit card was Nordstrom. My first job was at Marshall McLennan for a year and then Stern AG.

09:03 What's Marshall McLennan?

09:04 An insurance brokerage firm. Kind of like what I'm doing now.

09:06 So you never had an official job in like, high school? Never like a, A corporate job?

09:09 I worked for dad.

09:10 Oh, okay.

09:11 I worked for dad, which he was training me on pharmaceutical Sales, which was pretty a big deal at that time. It was definitely a big deal, but I did that babysitting.

09:20 What did you major again?

09:21 Business with a minor in marketing.

09:23 So you did.

09:24 I did. Why did you not know that?

09:26 How did I just assume you didn't major in economics.

09:28 It's not economics.

09:29 Oh, but you. But around money. Oh, you switched. You were pharmaceutical.

09:33 No, I was education and I switched to business.

09:37 How did I have this message this whole time?

09:39 That's sad.

09:39 Do you regret switching off of education?

09:42 Yes.

09:43 Really?

09:43 I think I do now. Because I wish. At Samford, I was in elementary education and they put me in a five year old kindergarten class. And I wish. And it scared me. I was like, I don't want to teach kindergarteners for the rest of my life.

09:56 Yeah.

09:56 And so I changed the business quickly because of dad and their businesses. But I wish I had changed a secondary education and taught English.

10:02 You could teach business or economics.

10:05 No, I think because I can promise you, you're probably already smarter than me on it. I think everything has changed so much.

10:11 Yeah, that is. That's what I've noticed so far just from talking to you in the past, even though I assumed you're a pharmaceutical major.

10:19 How would I major in pharmaceuticals? Hell, he went, that's so sad.

10:24 Are you excited for me to be a business major or would you say.

10:27 Would you like. I want you to concentrate. I want you to do business pre law. Because you are so. I mean, I just feel like that's what your brain lends towards is because you remember so many things. I am and or international business. I don't want you just to do general business.

10:46 No, I agree. There's more. More job opportunities, more things. I want to travel too.

10:51 Correct. You need to. You need to go live somewhere and speak fluent Spanish and learn it.

10:56 Would you say that traveling is like a big. A big learning experience?

10:58 What do you think? I mean from my.

11:00 From your. Yeah. How is that? How has traveling helped you out?

11:04 Because it's tough because dad, your granddad.

11:06 We'Ll say out of the country because I've never been.

11:08 Your granddad was in the Navy. I would say, you know, this is the thing I've learned. And you say that your granddad was in the navy and the two places he wanted me to see that I haven't been yet are Hong Kong and Panama because he wanted me to go through the Panama Canal. But I would say he also put importance on seeing everything in the United States. And so, yeah, I think it's just as Important that you see the US as it is to see other countries.

11:33 It's true.

11:34 Because there are so many different places here.

11:38 As the mom to five kids, what are some economic advice you would share to young families? Sorry to. Sorry to bounce off what you're talking about your dad.

11:49 To save. Definitely to save.

11:51 So savings. The big idea here for sure.

11:53 To save and to allow yourself to plan ahead. To plan ahead on when you're gonna spend money, like on trips and Disney and things like that. Don't do Disney too much, but yeah, to save and to plan.

12:08 I do think there's a big, like, theme of just spending today. Like, people get their money and just spend it on whatever, cosmetics and like.

12:17 The thing dashes Disney World, I guess. And it's gone.

12:20 Yeah. And it's gone. South Park. Do you have any. Anything you bought that you regret spending too much money on five kids?

12:28 No, not y'all. A whole zoo of animals. I don't regret them. I don't regret animals.

12:34 That is a lot of money.

12:35 I would say cars. Like, I would say my most recent car purchase was smart. But in the past, we've probably gotten cars that we spent too much. Like a suburban. You know, like things that were.

12:43 I was.

12:44 I didn't really need to have.

12:44 Those are kind of liabilities, too.

12:46 For sure. Because you don't get the money back.

12:47 Decreasing assets, depleting assets.

12:50 Correct. You are not going to see that money again. Unless it's your Jeep, which we looked out on.

12:54 No Lamborghinis.

12:55 Did they hold their value? Yeah. Okay.

12:57 We got that because of. How do we luck out? Because of COVID Yes.

13:01 Yes. We bought it December 29th and then.

13:04 Covid hit that March, and we both lived through Covid. Did you think the economy has changed a lot from COVID Yes. Well, yeah. Oh, yeah. It's completely different. I remember.

13:12 But the economy changed a lot, too. I feel like pre Twin Towers and post. Twin Towers. Yeah, I think that was.

13:19 Yeah. You lived through 911 and then 2008 recession, which was just houses, I think. Real estate.

13:25 Yep.

13:26 Dad probably knows more about that than.

13:28 Why does dad know more that stock.

13:31 Stock.

13:32 Dad knows about stocks and bonds.

13:35 That's. That's important.

13:36 It is important.

13:37 And then Covid. What should you say? Do you think Covid or Twin Towers changed the economy the most?

13:42 Because of the president. The current president.

13:45 911 probably affected international business a lot.

13:47 It did, for sure. It affected the Middle east.

13:50 Oil.

13:50 The markets were crazy.

13:52 Oh, gas prices. That's probably the biggest thing I've seen Since I've been Covid killed.

13:56 Been aware of the gas prices.

13:58 I remember it being like 250. And then at one point it's like five or six.

14:02 And then when it's $3, it's good. But it was. Remember, during Trump, it got down to below $2 at one point.

14:11 Well, is there anything else you would like to say? Any.

14:16 I think you're. I think I worry less about you, as, you know, with your brothers. Because you hate spending money.

14:22 Oh, yeah, I do. Unless it's Disney, I feel the pain about every dollar.

14:26 Whereas, like, Rhett and Miles, like, can you imagine? Miles is gonna have zero accountability for money. So I do feel like you have a good head on your shoulders with money. I don't know how we handled that differently with you than your brothers, but, yeah, I think you're.

14:43 I don't know the question, actually, since I was just in Auburn. Do you. When you graduated from college, did you live with someone?

14:49 Where did I go to college? Do you even know where I went?

14:50 Sanford University.

14:52 You didn't know my major?

14:53 Business major. Did you live with someone right now?

14:56 Wouldn't that keep your major? And what did I do?

14:57 That's embarrassing. I might switch education.

15:00 No, you're not.

15:01 Did you live with someone right after college?

15:03 Who did I live with?

15:04 Lauren?

15:05 Yes.

15:05 But, like, did y'all.

15:06 We had an apartment in Crestline that our dads paid for.

15:09 That was the problem in Mombrook. See, they're spoiled. Y'all don't know anything. There's your spending.

15:13 Just said that. Yes. Our dads pay for our apartment.

15:16 You think that. Wear it off, even though.

15:17 Yes, because then the next thing I knew, after I lived with her for a year in Crestline, then I went, and that's when I about got my credit card, that Nordstrom credit card. And then I was also paying my rent and paying all my utilities for the first time. It was a lot.

15:31 How long. How long do you live by yourself? Before you and dad?

15:36 Two years.

15:37 You're by yourself?

15:38 Completely by myself. With my cats, Oliver and Fagan.

15:41 I kind of. I kind of like that.

15:43 You like the thought of living by yourself.

15:45 With my dogs and. Yeah, same Steve the cat.

15:49 You're more like me than you thought.

15:51 Oh, well, thank you for the interview and for the advice.

15:56 I enjoyed it.

15:58 Hope one of the other kids has to do this someday.

16:00 It'll be bad.

16:02 Adios.