1 00:00:00,040 --> 00:00:01,960 Speaker 1: Let's say good morning now to the host of How 2 00:00:02,000 --> 00:00:05,080 Speaker 1: to Money on KFI. You can listen to them every 3 00:00:05,120 --> 00:00:07,800 Speaker 1: Sunday from noon to two. It's a very own Joel Larsgard. 4 00:00:07,840 --> 00:00:09,920 Speaker 2: Morning Joel, Good morning Amy. 5 00:00:10,080 --> 00:00:15,120 Speaker 1: Okay, so people are tightening their budgets and maybe for 6 00:00:15,240 --> 00:00:18,000 Speaker 1: Christmas presents you might head down to the Dollar Store 7 00:00:18,000 --> 00:00:20,520 Speaker 1: this year. There's some good and some bad in that. 8 00:00:21,800 --> 00:00:23,600 Speaker 2: Yeah, I mean the Dollar Store. 9 00:00:24,000 --> 00:00:27,080 Speaker 3: When the economy is in a rough spot, it sees 10 00:00:27,200 --> 00:00:27,800 Speaker 3: an uptick. 11 00:00:27,920 --> 00:00:28,080 Speaker 2: Right. 12 00:00:28,120 --> 00:00:29,960 Speaker 3: People are like, this is this is where I'm going 13 00:00:30,040 --> 00:00:32,720 Speaker 3: to go to save money because it's just in the name. 14 00:00:33,280 --> 00:00:35,080 Speaker 2: I'm not going to pay. I'm not gonna pay. 15 00:00:34,920 --> 00:00:37,640 Speaker 3: As much as I would at most other retailers, is 16 00:00:38,200 --> 00:00:41,760 Speaker 3: what you assume. And the truth is, yeah, you can 17 00:00:41,840 --> 00:00:45,840 Speaker 3: get some deals at the Dollar Store, but the other 18 00:00:45,960 --> 00:00:48,960 Speaker 3: side of the equation is when you factor in price 19 00:00:49,040 --> 00:00:52,480 Speaker 3: per unit, the Dollar Store is often not the cheapest. 20 00:00:52,840 --> 00:00:55,320 Speaker 3: And then there was some data that just came out 21 00:00:55,360 --> 00:01:01,400 Speaker 3: recently about Family Dollar and Dollar general price inspections. And 22 00:01:01,440 --> 00:01:04,080 Speaker 3: so essentially, when you see the price on the shelf 23 00:01:04,120 --> 00:01:05,520 Speaker 3: at the Dollar Store and you're like, that seems like 24 00:01:05,520 --> 00:01:08,160 Speaker 3: a pretty good deal, Well, the price on the shelf 25 00:01:08,200 --> 00:01:09,959 Speaker 3: is not what it rings up at. And this is 26 00:01:10,000 --> 00:01:12,920 Speaker 3: not just a you know, maybe like one in one 27 00:01:13,000 --> 00:01:16,840 Speaker 3: hundred items, this is like almost a quarter of items 28 00:01:16,880 --> 00:01:19,600 Speaker 3: being sold at some of these dollar stores across the 29 00:01:19,640 --> 00:01:23,040 Speaker 3: country are not ringing up what you thought they would. 30 00:01:23,080 --> 00:01:25,040 Speaker 3: And so people were walking out and they're like, I thought, 31 00:01:25,080 --> 00:01:27,160 Speaker 3: I like would have paid a whole lot less, and 32 00:01:27,160 --> 00:01:28,520 Speaker 3: they started looking at their re seat and they're like, 33 00:01:28,520 --> 00:01:31,200 Speaker 3: holy mackerel, this is like so much more expensive than 34 00:01:31,240 --> 00:01:33,399 Speaker 3: what it said it was going to be. So dollar 35 00:01:33,400 --> 00:01:36,160 Speaker 3: stores are under fire from this from attorney generals around 36 00:01:36,160 --> 00:01:37,000 Speaker 3: the country. 37 00:01:36,880 --> 00:01:39,600 Speaker 1: Which is interesting because it really used to be that 38 00:01:39,720 --> 00:01:42,160 Speaker 1: everything was a dollar. Like you'd go in and you go, hey, 39 00:01:42,160 --> 00:01:43,720 Speaker 1: how much is that and they go a dollar? How 40 00:01:43,760 --> 00:01:47,240 Speaker 1: much is this a dollar? But that changed after COVID. 41 00:01:47,960 --> 00:01:50,840 Speaker 3: Sure, yeah, of course, right like as inflation ticked up 42 00:01:50,840 --> 00:01:54,000 Speaker 3: and everything got more expensive, dollar stores had to innovate, 43 00:01:54,080 --> 00:01:56,200 Speaker 3: and so it was well, like, let's do three for 44 00:01:56,320 --> 00:01:58,360 Speaker 3: five dollars, or it's a dollar and a quarter right 45 00:01:58,440 --> 00:02:01,640 Speaker 3: for certain things, And it's just it's impossible to hold 46 00:02:01,640 --> 00:02:04,920 Speaker 3: that line after a certain point, which I totally understand, 47 00:02:05,160 --> 00:02:07,680 Speaker 3: and I think consumers understand that too. They're like all right, 48 00:02:07,720 --> 00:02:09,960 Speaker 3: I'm still hoping to get a deal, even though I 49 00:02:10,000 --> 00:02:11,520 Speaker 3: know that when I walk in there, everything I look 50 00:02:11,560 --> 00:02:13,960 Speaker 3: at is not going to cost me a dollar. But 51 00:02:14,280 --> 00:02:17,400 Speaker 3: it's just really unfortunate that and part of this is 52 00:02:17,400 --> 00:02:19,120 Speaker 3: a staffing issue at the dollar Store, but they just 53 00:02:19,160 --> 00:02:20,679 Speaker 3: have to do with these different dollar stores. 54 00:02:20,680 --> 00:02:22,000 Speaker 2: They just have to do better, though. 55 00:02:22,040 --> 00:02:24,600 Speaker 3: They just have to find a way to ensure that 56 00:02:24,639 --> 00:02:27,639 Speaker 3: the prices on the shelves are the ones that consumers 57 00:02:27,639 --> 00:02:30,679 Speaker 3: are paying at checkout. And when you think about when, yeah, 58 00:02:30,840 --> 00:02:34,040 Speaker 3: this might happen occasionally somewhere else where you're like ringing 59 00:02:34,080 --> 00:02:35,560 Speaker 3: it up and you're like, wait a second, I think 60 00:02:35,560 --> 00:02:37,240 Speaker 3: it was lower on the shelf. Maybe you talk to 61 00:02:37,520 --> 00:02:39,400 Speaker 3: an employee and they help you figure it out. But 62 00:02:39,440 --> 00:02:43,400 Speaker 3: at the dollar Store, this is a perpetual problem that 63 00:02:43,440 --> 00:02:45,400 Speaker 3: you're going to run into, and I guess it just 64 00:02:45,520 --> 00:02:48,200 Speaker 3: makes me I just want to warn people that you 65 00:02:48,240 --> 00:02:50,720 Speaker 3: one that's a problem, and then two you might not 66 00:02:50,840 --> 00:02:52,680 Speaker 3: be getting as good of a deal as you think 67 00:02:52,720 --> 00:02:54,280 Speaker 3: you are, especially when you look at like the price 68 00:02:54,320 --> 00:02:56,760 Speaker 3: per unit, which I think is a good way to look. 69 00:02:56,800 --> 00:02:58,600 Speaker 3: Let's say you're buying a tube of toothpaste and you're like, oh, 70 00:02:58,720 --> 00:03:00,079 Speaker 3: this is a dollar and a quarter, that seems like 71 00:03:00,120 --> 00:03:02,160 Speaker 3: a good deal. But let's say it's three ounces and 72 00:03:02,639 --> 00:03:05,760 Speaker 3: at the grocery store, Yeah maybe maybe it's two dollars 73 00:03:05,760 --> 00:03:07,920 Speaker 3: and fifty cents, but it's an eight ounce tube, and 74 00:03:07,919 --> 00:03:10,400 Speaker 3: so you're actually getting more for your money if you 75 00:03:10,400 --> 00:03:12,240 Speaker 3: get the toothpaste at the grocery store. These are just 76 00:03:12,280 --> 00:03:14,239 Speaker 3: the kind of things that are ultimately going to save 77 00:03:14,280 --> 00:03:16,320 Speaker 3: you more than literally just going to the dollar store 78 00:03:16,320 --> 00:03:18,080 Speaker 3: and assuming that you're going to pay the least amount. 79 00:03:18,280 --> 00:03:21,720 Speaker 1: Okay, So just be careful and pay attention because you 80 00:03:21,760 --> 00:03:23,519 Speaker 1: have to do that at the regular store. Like I 81 00:03:24,120 --> 00:03:27,480 Speaker 1: almost always check my receipts now because like with at 82 00:03:27,600 --> 00:03:30,720 Speaker 1: my Pavilions, they've got the app with the coupons, and 83 00:03:30,760 --> 00:03:33,520 Speaker 1: sometimes you don't get credit for it, or something's on 84 00:03:33,560 --> 00:03:35,520 Speaker 1: the shelf and it looks like one price but it's 85 00:03:35,520 --> 00:03:38,400 Speaker 1: actually another one. So it's another place where you have 86 00:03:38,440 --> 00:03:39,000 Speaker 1: to be careful. 87 00:03:39,400 --> 00:03:40,400 Speaker 2: That's right, all right. 88 00:03:41,640 --> 00:03:44,880 Speaker 1: Now, We know that you love to save money, because 89 00:03:44,880 --> 00:03:47,760 Speaker 1: otherwise you wouldn't be the host of how to money, oKFI, 90 00:03:48,320 --> 00:03:52,160 Speaker 1: But sometimes you should spend more money. 91 00:03:53,560 --> 00:03:56,040 Speaker 2: Yeah, this is this, that's it's so true. 92 00:03:56,040 --> 00:03:59,240 Speaker 3: Like there is the buy once crime once movement, which 93 00:03:59,280 --> 00:04:00,520 Speaker 3: I'm I'm a big fan of. 94 00:04:00,640 --> 00:04:02,920 Speaker 1: Wait, buy once, buy once, cry once. 95 00:04:03,320 --> 00:04:03,720 Speaker 2: That's right. 96 00:04:03,760 --> 00:04:06,240 Speaker 3: So it's like it's basically what it's insinuating is you 97 00:04:06,320 --> 00:04:10,440 Speaker 3: spend more money in one fell swoop on the nicer product, 98 00:04:10,880 --> 00:04:13,160 Speaker 3: and then hopefully that means you don't have to replace 99 00:04:13,200 --> 00:04:15,640 Speaker 3: the product for a really long time. Like I think 100 00:04:15,680 --> 00:04:20,039 Speaker 3: of something like Darn Tough Socks or even bomb of socks, 101 00:04:20,040 --> 00:04:21,440 Speaker 3: which are not as well made, but they still have 102 00:04:21,480 --> 00:04:25,279 Speaker 3: a similar like guarantee standing behind their socks, like they're 103 00:04:25,360 --> 00:04:26,000 Speaker 3: just amazing. 104 00:04:26,040 --> 00:04:28,120 Speaker 2: They're such a good sock. They're really really expensive. 105 00:04:28,120 --> 00:04:29,640 Speaker 3: Though people look at at me, the why am I 106 00:04:29,720 --> 00:04:32,320 Speaker 3: spending twenty dollars for one pair of socks when I 107 00:04:32,320 --> 00:04:35,680 Speaker 3: can get a twelve pack of socks for that same price. Well, 108 00:04:35,720 --> 00:04:38,240 Speaker 3: it's because they don't ever really get holes in them. 109 00:04:38,279 --> 00:04:42,000 Speaker 3: They're incredible, they feel amazing, and then you if you 110 00:04:42,040 --> 00:04:43,520 Speaker 3: ever have to replace them, if you ever do get 111 00:04:43,560 --> 00:04:45,840 Speaker 3: a hole in them, well guess what, darn Toff will 112 00:04:45,839 --> 00:04:46,520 Speaker 3: do it for free. 113 00:04:46,600 --> 00:04:47,880 Speaker 2: Like they're just like, hey, send us your old pair, 114 00:04:47,920 --> 00:04:48,680 Speaker 2: will send you a new pair. 115 00:04:48,960 --> 00:04:51,560 Speaker 3: And and so I'm all about the buy once, cry 116 00:04:51,560 --> 00:04:54,919 Speaker 3: once thing, buy the nicer item and then never have 117 00:04:55,000 --> 00:04:59,360 Speaker 3: to buy, never have to replace it, hopefully. And what's 118 00:04:59,400 --> 00:05:02,200 Speaker 3: interesting is like that sometimes going cheap makes the most sense. 119 00:05:02,240 --> 00:05:03,960 Speaker 3: It just depends on what we're talking about. But I 120 00:05:03,960 --> 00:05:06,400 Speaker 3: think there's been a confluence. I mean, think about the 121 00:05:06,480 --> 00:05:09,280 Speaker 3: rise of Shean and Timu. There's been a confluence of 122 00:05:09,600 --> 00:05:12,720 Speaker 3: really cheap options for us to partake in recently. And 123 00:05:12,839 --> 00:05:16,960 Speaker 3: everybody knows that when you take the absolute cheapest route, 124 00:05:17,200 --> 00:05:19,760 Speaker 3: so much of the time you're either disappointed or that 125 00:05:19,800 --> 00:05:23,080 Speaker 3: item breaks in short order, and so be careful. There's 126 00:05:23,120 --> 00:05:25,520 Speaker 3: something like the Wirecutter just had a list of a 127 00:05:25,560 --> 00:05:28,200 Speaker 3: few items that really do make sense to spend less 128 00:05:28,200 --> 00:05:31,200 Speaker 3: money on. Like vodka they mentioned was one of those things, 129 00:05:31,200 --> 00:05:35,320 Speaker 3: like buy the cheap vodka, okay, especially like the vodka 130 00:05:35,320 --> 00:05:37,360 Speaker 3: from Costco. It's really good and it's gonna cost a 131 00:05:37,400 --> 00:05:38,880 Speaker 3: lot less money. You're not going to really notice a 132 00:05:38,880 --> 00:05:41,039 Speaker 3: big quality difference. The same thing is true with some 133 00:05:41,080 --> 00:05:43,839 Speaker 3: of the home electronics now. Maybe like there are cheaper 134 00:05:44,240 --> 00:05:48,039 Speaker 3: companies like Whys out there, who's making home cameras that 135 00:05:48,120 --> 00:05:50,440 Speaker 3: are pretty dang solid for like twenty five bucks, you 136 00:05:50,440 --> 00:05:52,360 Speaker 3: could spend one hundred and fifty bucks, But you're not 137 00:05:52,400 --> 00:05:53,160 Speaker 3: going to get. 138 00:05:53,640 --> 00:05:55,680 Speaker 2: You're not going to get much better quality if you do. 139 00:05:56,120 --> 00:05:58,800 Speaker 3: And so it's worth knowing when it's okay to cheap 140 00:05:58,839 --> 00:06:01,680 Speaker 3: out and when it's actually when it actually makes sense 141 00:06:01,680 --> 00:06:04,320 Speaker 3: for your wallet and you're not getting something massively in feor. 142 00:06:04,400 --> 00:06:06,080 Speaker 3: But then it also makes sense to do your due 143 00:06:06,080 --> 00:06:09,279 Speaker 3: diligence when we're talking about buying, especially, I think like 144 00:06:09,520 --> 00:06:11,719 Speaker 3: a mattress, like you do you want to buy the 145 00:06:11,720 --> 00:06:14,520 Speaker 3: two hundred dollars mattress or the two thousand dollars mattress. 146 00:06:14,720 --> 00:06:16,599 Speaker 3: I kind of land somewhere in between. I like some 147 00:06:16,640 --> 00:06:18,839 Speaker 3: of the costco mattresses. But so much of it comes 148 00:06:18,839 --> 00:06:21,880 Speaker 3: down to research, to knowing what you're buying so that 149 00:06:21,920 --> 00:06:24,880 Speaker 3: you're not ultimately just cheaping out getting getting the thing 150 00:06:24,920 --> 00:06:26,800 Speaker 3: that costs the least in the moment, but it is 151 00:06:26,839 --> 00:06:27,920 Speaker 3: going to cost you more over time. 152 00:06:28,320 --> 00:06:31,960 Speaker 1: Okay, So things to consider when you're going to invest. Yeah, 153 00:06:32,120 --> 00:06:34,400 Speaker 1: I mean, I think we've all found that we're like, oh, 154 00:06:34,400 --> 00:06:36,120 Speaker 1: that looks like such a good deal and then. 155 00:06:36,040 --> 00:06:38,160 Speaker 2: It falls apart. So yeah, all. 156 00:06:38,120 --> 00:06:41,240 Speaker 1: Right, all right, Well it just means that we have 157 00:06:41,320 --> 00:06:43,920 Speaker 1: to do more research, Joel, and we can do that 158 00:06:44,040 --> 00:06:46,280 Speaker 1: by listening to your show on Sundays because you have 159 00:06:46,600 --> 00:06:49,480 Speaker 1: lots of great financial advice. It's how to Money with 160 00:06:49,560 --> 00:06:52,520 Speaker 1: Joel lars Guard every Sunday from noon to two right 161 00:06:52,560 --> 00:06:55,680 Speaker 1: here on KFI. You can also follow him at how 162 00:06:55,760 --> 00:06:58,400 Speaker 1: to Money jewelars Guard. Thanks so much. Do we get 163 00:06:58,440 --> 00:06:59,320 Speaker 1: to talk to you next week? 164 00:07:00,000 --> 00:07:00,400 Speaker 2: I'd love to you. 165 00:07:00,480 --> 00:07:02,440 Speaker 1: Let's do it, okay, perfect, right before Christmas. 166 00:07:02,440 --> 00:07:04,960 Speaker 2: We'll do some Christmas stuff that sounds great. Al right, 167 00:07:05,160 --> 00:07:06,880 Speaker 2: take care, okay, you too. Bye