1
00:00:00,120 --> 00:00:02,880
Speaker 1: Welcome to How the Money. I'm Joel, I'm Matt, and

2
00:00:02,920 --> 00:00:06,880
Speaker 1: today we're discussing by nothing groups, student loan forgiveness made Easy,

3
00:00:07,280 --> 00:00:30,040
Speaker 1: and Jack cries hyper inflation. That's right. We're gonna talk

4
00:00:30,040 --> 00:00:33,080
Speaker 1: about Jack Dorsey, plus a bunch of other stories, actual

5
00:00:33,080 --> 00:00:35,240
Speaker 1: stories that we came across this week. And we're not

6
00:00:35,280 --> 00:00:37,920
Speaker 1: going to be comment commenting on the newest iteration of

7
00:00:37,920 --> 00:00:40,519
Speaker 1: his facial hair because that's a constantly changing with that.

8
00:00:40,600 --> 00:00:42,680
Speaker 1: This could be a podcast i think, dedicated solely to

9
00:00:42,680 --> 00:00:44,960
Speaker 1: that which we wanted to see going on right now. Um,

10
00:00:45,000 --> 00:00:47,720
Speaker 1: it's like a very long looking goatee. Oh well, he's

11
00:00:47,720 --> 00:00:49,800
Speaker 1: always said that, like it's just a wild looking beard.

12
00:00:49,920 --> 00:00:52,440
Speaker 1: But but first we wanted to share that we are

13
00:00:52,479 --> 00:00:56,200
Speaker 1: going to have some listener hangs here in Atlanta, not today,

14
00:00:56,240 --> 00:00:59,920
Speaker 1: not this Friday, but rather next Friday, November. We are

15
00:01:00,080 --> 00:01:02,840
Speaker 1: going to be meeting up at Monday Night Garage at

16
00:01:02,840 --> 00:01:05,160
Speaker 1: seven five. I think Joel is going to be paying

17
00:01:05,160 --> 00:01:09,000
Speaker 1: for beers. But please come out if you're in Atlanta

18
00:01:09,080 --> 00:01:10,880
Speaker 1: or near Atlanta, we would love for you to come

19
00:01:10,880 --> 00:01:13,120
Speaker 1: out in November five Money Night Garage. We're gonna have

20
00:01:13,120 --> 00:01:15,800
Speaker 1: a little How the Money listener hang, yes, I'm looking

21
00:01:15,840 --> 00:01:18,440
Speaker 1: forward to it, Matt. Here's why, though, I won't be

22
00:01:18,440 --> 00:01:21,800
Speaker 1: able to pay for beers. Okay, tell me, because I am.

23
00:01:21,840 --> 00:01:24,000
Speaker 1: I just want to ticket to go to the World Series. Okay,

24
00:01:24,000 --> 00:01:25,600
Speaker 1: so you pull the trigger, you're doing it? I did,

25
00:01:25,760 --> 00:01:28,200
Speaker 1: I did, And so yeah, this is instead of fibular cheap.

26
00:01:28,240 --> 00:01:31,920
Speaker 1: This is dumb or criminally insane. No, it's dude, No,

27
00:01:31,920 --> 00:01:34,399
Speaker 1: no it is not. Because you are such a big

28
00:01:34,440 --> 00:01:36,800
Speaker 1: Braves fan and this is something that's gonna be worth

29
00:01:36,840 --> 00:01:39,000
Speaker 1: it for you, right, I mean, And not to mention

30
00:01:39,160 --> 00:01:41,720
Speaker 1: you're since you're covering beers for everybody, we know that

31
00:01:41,760 --> 00:01:44,440
Speaker 1: you're in a You're in a good place financially. It

32
00:01:44,480 --> 00:01:47,640
Speaker 1: would be different if you were saddled with loads of debts.

33
00:01:47,720 --> 00:01:49,920
Speaker 1: It would be different if you hadn't been making smart

34
00:01:49,960 --> 00:01:52,960
Speaker 1: moves with your money for the past fifteen years, ten

35
00:01:53,000 --> 00:01:55,080
Speaker 1: years ago, going going to the World Series, which wasn't

36
00:01:55,080 --> 00:01:56,880
Speaker 1: an option because it's been twenty two years since the

37
00:01:56,920 --> 00:01:59,920
Speaker 1: Braves have been to the World Series. Yeah, and it,

38
00:02:00,120 --> 00:02:01,760
Speaker 1: and that has been one of those like bucket list

39
00:02:01,800 --> 00:02:03,880
Speaker 1: items since I was a kid's going to a World

40
00:02:03,960 --> 00:02:06,920
Speaker 1: Series game, go and enjoy the heck out of it. Like,

41
00:02:06,920 --> 00:02:09,320
Speaker 1: do you feel guilty at all? For kind of I mean,

42
00:02:09,360 --> 00:02:11,280
Speaker 1: this is a small amount, it's a decent I will say,

43
00:02:11,320 --> 00:02:13,200
Speaker 1: it's a small amount of guild for sure. But you

44
00:02:13,240 --> 00:02:14,800
Speaker 1: need to not you need to push that out of

45
00:02:14,800 --> 00:02:17,240
Speaker 1: your mind and just enjoy it to the max. And

46
00:02:17,280 --> 00:02:20,120
Speaker 1: I want you to extract every amount of enjoyment from

47
00:02:20,160 --> 00:02:22,080
Speaker 1: that game. Oh I will, I will, but don't lose

48
00:02:22,120 --> 00:02:24,120
Speaker 1: your voice because we need to record. I thought about that.

49
00:02:24,160 --> 00:02:27,200
Speaker 1: I'll try not to. But fortunately, at least one of

50
00:02:27,200 --> 00:02:30,360
Speaker 1: my friends is a season ticket holder, and so I

51
00:02:30,400 --> 00:02:32,760
Speaker 1: saw that standing room tickets are going for like eight

52
00:02:32,800 --> 00:02:35,720
Speaker 1: hundred bucks. I paid four hundred bucks for the ticket,

53
00:02:35,800 --> 00:02:38,840
Speaker 1: So it's that is awesome. It's definitely it's a discount, right,

54
00:02:39,160 --> 00:02:41,960
Speaker 1: it's not it's not quite full freight, which I'm thinking

55
00:02:42,000 --> 00:02:43,720
Speaker 1: for because because to be honest, like we we all

56
00:02:43,720 --> 00:02:46,120
Speaker 1: have a price threshold, kind of like that that four

57
00:02:46,160 --> 00:02:48,400
Speaker 1: pack of beer I talked about recently, I walked away

58
00:02:48,400 --> 00:02:50,200
Speaker 1: from it. If it was eight hundred dollars to get in,

59
00:02:50,240 --> 00:02:52,480
Speaker 1: I would say no plus standing remotely, like like you

60
00:02:52,520 --> 00:02:54,720
Speaker 1: don't you do not have a guaranteed seats if you're

61
00:02:54,760 --> 00:02:56,480
Speaker 1: just getting that eight hundred dollar ticket yeah, which I'd

62
00:02:56,520 --> 00:02:57,840
Speaker 1: be okay with standing room only if it was like

63
00:02:58,040 --> 00:02:59,880
Speaker 1: even if it was like two fifty or something like that.

64
00:03:00,040 --> 00:03:02,600
Speaker 1: But we all have our breaking point before hundred bucks.

65
00:03:02,600 --> 00:03:05,120
Speaker 1: For me, for this bucket list item, I'm doing it.

66
00:03:05,240 --> 00:03:08,200
Speaker 1: So go Braves. We'll see if we can win game

67
00:03:08,240 --> 00:03:11,280
Speaker 1: three tonight. Um, I'm sure hoping so well. Even though

68
00:03:11,320 --> 00:03:13,560
Speaker 1: I haven't been following it at all, I'm hoping so

69
00:03:13,600 --> 00:03:15,320
Speaker 1: as well. I mean, I'm not so. I mean back

70
00:03:15,320 --> 00:03:16,520
Speaker 1: when I was a kid, like when I was ten

71
00:03:16,600 --> 00:03:18,480
Speaker 1: or eleven years old, there wasn't anything bigger than the

72
00:03:18,480 --> 00:03:20,640
Speaker 1: Braves back in the nineties, right, But I haven't been

73
00:03:20,680 --> 00:03:22,960
Speaker 1: following it as closely. But even I might turn the

74
00:03:22,960 --> 00:03:24,679
Speaker 1: game on here in the next couple of days. Let's

75
00:03:24,680 --> 00:03:27,720
Speaker 1: hope my face Paint Itself gets on the TV. But

76
00:03:28,360 --> 00:03:30,400
Speaker 1: all right, let's move on to the Friday Flights. It's

77
00:03:30,440 --> 00:03:33,399
Speaker 1: a sampling of stories we found interesting this week and

78
00:03:33,520 --> 00:03:37,280
Speaker 1: how those pertain to your money. And so the first

79
00:03:37,480 --> 00:03:40,600
Speaker 1: story we want to cover today. Truly, one person's trash

80
00:03:40,800 --> 00:03:43,600
Speaker 1: is another person's treasure. The New York Times had a

81
00:03:43,680 --> 00:03:47,560
Speaker 1: great right up on by Nothing Groups that's really worth reading.

82
00:03:47,560 --> 00:03:49,200
Speaker 1: Will link to it in our show notes. But the

83
00:03:49,200 --> 00:03:52,160
Speaker 1: passionate folks in these groups, they do a fantastic job

84
00:03:52,200 --> 00:03:55,320
Speaker 1: really of offering up used goods that might otherwise end

85
00:03:55,360 --> 00:03:58,440
Speaker 1: up in the landfill. I'm always amazed at some of

86
00:03:58,440 --> 00:04:00,920
Speaker 1: the things that get posted in our local buy nothing group.

87
00:04:01,200 --> 00:04:03,920
Speaker 1: The New York Times actually mentioned dryer lent being something

88
00:04:03,960 --> 00:04:06,520
Speaker 1: that got snatched up recently. You can use that to

89
00:04:06,720 --> 00:04:09,560
Speaker 1: uh like kindling for a little campfire or hamster beds.

90
00:04:09,600 --> 00:04:12,440
Speaker 1: Apparently I didn't know that, but uh yeah, it's a

91
00:04:12,440 --> 00:04:17,040
Speaker 1: little weird. And somebody in mind this week was requesting acorns. Oh,

92
00:04:17,080 --> 00:04:19,280
Speaker 1: they should come over to our house. The oak trees

93
00:04:19,279 --> 00:04:21,840
Speaker 1: behind our house are dropping acorns left orright? Have you?

94
00:04:21,880 --> 00:04:23,640
Speaker 1: I mean as we're sitting here working, you can hear them.

95
00:04:24,040 --> 00:04:26,400
Speaker 1: Yeah yeah, yeah. So it's it's kind of just a

96
00:04:26,440 --> 00:04:29,039
Speaker 1: fascinating place because you never know what somebody's gonna offer

97
00:04:29,080 --> 00:04:31,520
Speaker 1: up or what somebody's gonna request. And I actually just

98
00:04:31,560 --> 00:04:34,600
Speaker 1: scored two Halloween costumes this week on the buy Nothing group.

99
00:04:35,279 --> 00:04:36,640
Speaker 1: I myself, I'm going to be the man of the

100
00:04:36,680 --> 00:04:39,480
Speaker 1: yell hat from Curious George and my little Dude I

101
00:04:39,560 --> 00:04:41,640
Speaker 1: wish he got a Curio Storge costume, but that would

102
00:04:41,640 --> 00:04:44,000
Speaker 1: have been great, I know, but he's gonna be a dinosaur,

103
00:04:44,120 --> 00:04:47,560
Speaker 1: so free costumes for the wind nights. I didn't know

104
00:04:47,600 --> 00:04:49,560
Speaker 1: you were doing a dinosaur. So I think Westy is

105
00:04:49,560 --> 00:04:53,440
Speaker 1: gonna be an alligator because Kayton, we're planning to be

106
00:04:53,520 --> 00:04:56,799
Speaker 1: low key. It's basically a dinosaur, yeah, but specifically alligator

107
00:04:56,839 --> 00:04:59,200
Speaker 1: lowkey Okay, I don't know what that is, so yeah,

108
00:04:59,240 --> 00:05:02,400
Speaker 1: you'll see. So I mean, what's the weirdest thing that

109
00:05:02,480 --> 00:05:05,400
Speaker 1: you have seen in our local buy nothing group? Because

110
00:05:05,560 --> 00:05:08,600
Speaker 1: you know, with it being predominantly on Facebook, I am

111
00:05:08,640 --> 00:05:11,599
Speaker 1: not on there. Yeah, but I did see that by

112
00:05:11,600 --> 00:05:14,440
Speaker 1: Nothing that they're looking to launch a standalone app, in

113
00:05:14,480 --> 00:05:16,480
Speaker 1: which case I could totally see myself getting on there.

114
00:05:16,520 --> 00:05:18,960
Speaker 1: I just don't like getting inundated with all the other

115
00:05:19,000 --> 00:05:22,520
Speaker 1: distractions actually hop hopping in Facebook. I know. I rarely

116
00:05:22,680 --> 00:05:25,720
Speaker 1: head over there to Facebook in general. I will say.

117
00:05:25,839 --> 00:05:29,320
Speaker 1: The great thing now, though, is I have the news

118
00:05:29,360 --> 00:05:32,240
Speaker 1: feed eradicator plug in. I've had that for years. So

119
00:05:32,279 --> 00:05:33,719
Speaker 1: do you have that on your phone as well? No,

120
00:05:33,839 --> 00:05:35,640
Speaker 1: but I don't usually use it on my phone, so

121
00:05:35,960 --> 00:05:37,800
Speaker 1: I usually go just on the desktop and I go

122
00:05:37,839 --> 00:05:39,520
Speaker 1: straight to the Hat of Money Facebook group to check

123
00:05:39,520 --> 00:05:41,719
Speaker 1: in on things there and I go to local buy

124
00:05:41,760 --> 00:05:45,560
Speaker 1: nothing or the neighborhood civic association groups and groups are

125
00:05:45,560 --> 00:05:47,680
Speaker 1: really the only thing I use Facebook for. I don't

126
00:05:47,680 --> 00:05:51,080
Speaker 1: ever post, I don't really read people stuff that's just um. Yeah,

127
00:05:51,080 --> 00:05:53,520
Speaker 1: there's a lot of crummy things about Facebook or time

128
00:05:53,520 --> 00:05:55,600
Speaker 1: sucking things about Facebook, and I just want to use

129
00:05:55,640 --> 00:05:58,880
Speaker 1: it for only the tools that I enjoy. But I

130
00:05:58,920 --> 00:06:01,360
Speaker 1: just wanted to say, yeah, buy nothing groups can be

131
00:06:01,600 --> 00:06:04,600
Speaker 1: a little weird, a little offbeat, but adorable at the

132
00:06:04,640 --> 00:06:08,000
Speaker 1: same time. And I just encourage other folks to join

133
00:06:08,080 --> 00:06:09,880
Speaker 1: one if they're on Facebook, and if not, to look

134
00:06:09,920 --> 00:06:12,080
Speaker 1: forward to this standalone app in the future so that

135
00:06:12,120 --> 00:06:14,560
Speaker 1: you can still participate, because it really it's like neighbors

136
00:06:14,560 --> 00:06:16,159
Speaker 1: help and neighbors and I think it's it's just like

137
00:06:16,320 --> 00:06:19,240
Speaker 1: it's a good thing. And that's one of the positive

138
00:06:19,240 --> 00:06:22,279
Speaker 1: benefits that the Internet has brought us, that connectivity on

139
00:06:22,320 --> 00:06:24,760
Speaker 1: that level. It's just that's a good stuff. Yeah, there's

140
00:06:24,760 --> 00:06:26,720
Speaker 1: buy nothing groups are a great way to keep you

141
00:06:26,839 --> 00:06:28,960
Speaker 1: from spending all of your money. Uh. And on a

142
00:06:29,000 --> 00:06:32,520
Speaker 1: related note, let's talk about the high price of burnout,

143
00:06:32,520 --> 00:06:34,200
Speaker 1: because there is a great article in the Wall Street

144
00:06:34,240 --> 00:06:37,440
Speaker 1: Journal decelling the reality that most of us tend to

145
00:06:37,480 --> 00:06:40,680
Speaker 1: spend more money when we're exhausted, and when we're overwhelmed,

146
00:06:40,920 --> 00:06:43,360
Speaker 1: we spend on the little conveniences that we might otherwise

147
00:06:43,440 --> 00:06:46,719
Speaker 1: have considered too costly, or these once in a while

148
00:06:46,839 --> 00:06:50,200
Speaker 1: treats kinda like they become more habitual, they become more regular,

149
00:06:50,240 --> 00:06:53,039
Speaker 1: they find their way into our monthly budgets. And so

150
00:06:53,080 --> 00:06:54,880
Speaker 1: when you've been put through the ringer at work, or

151
00:06:54,920 --> 00:06:57,480
Speaker 1: if you have other stressors that are impacting your life,

152
00:06:57,800 --> 00:07:00,400
Speaker 1: it's important to recognize what's going on. We don't want

153
00:07:00,400 --> 00:07:03,520
Speaker 1: you to fall prey to the burnout temptation of just

154
00:07:03,560 --> 00:07:07,200
Speaker 1: scrolling on Instagram, uh and more spur of the moment purchases.

155
00:07:07,560 --> 00:07:10,120
Speaker 1: On one hand, I understand the need for expenses to

156
00:07:10,160 --> 00:07:12,040
Speaker 1: go up if you're working a lot. I was talking

157
00:07:12,040 --> 00:07:13,560
Speaker 1: with a friend of mine earlier this week, and he

158
00:07:13,600 --> 00:07:16,000
Speaker 1: has been working until like eight, nine, even ten o'clock

159
00:07:16,040 --> 00:07:18,920
Speaker 1: at night, and I guarantee that he doesn't have time

160
00:07:19,000 --> 00:07:20,360
Speaker 1: these days to go to the grocery store on the

161
00:07:20,400 --> 00:07:23,080
Speaker 1: way home from More go home, cook himself a nice, affordable,

162
00:07:23,160 --> 00:07:26,600
Speaker 1: healthy meal, eating those hot pockets, hopefully not hot pockets.

163
00:07:27,160 --> 00:07:29,080
Speaker 1: Hopefully the firm is covering dinner for them as well,

164
00:07:29,080 --> 00:07:30,320
Speaker 1: which I'm sure is the case, but there's a lot

165
00:07:30,320 --> 00:07:32,160
Speaker 1: of folks who don't have those kind of perks, and

166
00:07:32,200 --> 00:07:35,000
Speaker 1: in those instances, I understand, especially when it comes to food,

167
00:07:35,200 --> 00:07:37,640
Speaker 1: there's a convenience, Like there's a higher cost of convenience

168
00:07:37,640 --> 00:07:40,200
Speaker 1: that you're gonna pay for in order to eat some

169
00:07:40,240 --> 00:07:43,080
Speaker 1: food quickly without that taking a lot of time. But

170
00:07:43,160 --> 00:07:45,280
Speaker 1: hopefully in addition to that, you're also making a little

171
00:07:45,280 --> 00:07:46,760
Speaker 1: bit more money, and so in my mind it kind

172
00:07:46,760 --> 00:07:48,760
Speaker 1: of balances out a little bit. But on the other hand,

173
00:07:48,800 --> 00:07:50,880
Speaker 1: if you're a little burnt out and that's causing you

174
00:07:50,960 --> 00:07:54,560
Speaker 1: to consume, like buy more dumb stuff, basically, that's definitely

175
00:07:54,560 --> 00:07:57,200
Speaker 1: something we want to warn folks about. When you're consumeristic

176
00:07:57,480 --> 00:08:00,000
Speaker 1: defenses are down, Essentially, it can be easy to get

177
00:08:00,040 --> 00:08:01,640
Speaker 1: knocked in the face all of a sudden you're buying

178
00:08:01,640 --> 00:08:03,560
Speaker 1: a bunch of stuff. That's what we want folks to

179
00:08:03,600 --> 00:08:05,720
Speaker 1: avoid for sure. Yeah, it's like the shields being down

180
00:08:06,160 --> 00:08:08,400
Speaker 1: the money and falcon or something like that, and you're

181
00:08:08,400 --> 00:08:10,440
Speaker 1: just more prone to attack the best star man. Yeah,

182
00:08:10,800 --> 00:08:14,240
Speaker 1: oh yeah, that's right, do you My Star Wars references

183
00:08:14,240 --> 00:08:17,160
Speaker 1: are terrible, but so it just makes me think that

184
00:08:17,280 --> 00:08:20,640
Speaker 1: one yet, breaking that habit of scrolling is is a

185
00:08:20,640 --> 00:08:22,800
Speaker 1: good thing, like working to break that habit is helpful.

186
00:08:22,960 --> 00:08:25,880
Speaker 1: That news feed eradicator app that I mentioned is helpful

187
00:08:25,920 --> 00:08:28,640
Speaker 1: one to help break that habit. And but if you

188
00:08:28,720 --> 00:08:31,440
Speaker 1: still just kind of love the idea of mindless scrolling

189
00:08:31,800 --> 00:08:34,840
Speaker 1: instead of scrolling Instagram where every fourth thing you see

190
00:08:34,960 --> 00:08:37,200
Speaker 1: is an ad, scroll that buy nothing group instead and

191
00:08:37,240 --> 00:08:39,240
Speaker 1: find the funky things that you know you you might

192
00:08:39,280 --> 00:08:40,720
Speaker 1: be able to go pick up from a neighbor for

193
00:08:40,840 --> 00:08:44,400
Speaker 1: free instead of buying something. And also yeah, find alternatives

194
00:08:44,800 --> 00:08:47,960
Speaker 1: uh to the costly purchases that burnout can cause. We

195
00:08:48,000 --> 00:08:50,800
Speaker 1: would say, get outside. You might feel like you can't

196
00:08:50,800 --> 00:08:53,840
Speaker 1: afford to take the time for let's say, a twenty

197
00:08:53,840 --> 00:08:56,920
Speaker 1: minute walk out in nature or in your neighborhood, but

198
00:08:57,000 --> 00:09:01,120
Speaker 1: in reality you probably can't afford not to. Financial margin

199
00:09:01,320 --> 00:09:03,080
Speaker 1: is crucial, But if you feel like you're hitting a

200
00:09:03,120 --> 00:09:05,480
Speaker 1: wall when it comes to the demands on your time,

201
00:09:05,880 --> 00:09:08,200
Speaker 1: it's crucial to take a step back and find ways

202
00:09:08,200 --> 00:09:10,600
Speaker 1: to incorporate activities that are going to lead to better

203
00:09:10,880 --> 00:09:13,720
Speaker 1: health overall for you. You can't just focus only on

204
00:09:13,760 --> 00:09:17,320
Speaker 1: the money and achieving whatever financial goals you've set for yourself. Yeah. Yeah,

205
00:09:17,360 --> 00:09:20,160
Speaker 1: you got to think about the holistic person. And then

206
00:09:20,160 --> 00:09:23,439
Speaker 1: if burnout is this continual struggle for you, and work

207
00:09:23,920 --> 00:09:27,040
Speaker 1: is the perpetual culprit, well it might be time to

208
00:09:27,080 --> 00:09:31,240
Speaker 1: look elsewhere and to prioritize an employer who incorporates better boundaries,

209
00:09:31,240 --> 00:09:34,319
Speaker 1: who doesn't expect you to apply to a Slack message

210
00:09:34,360 --> 00:09:37,720
Speaker 1: at eight pm, expect you to be constantly checking your phone.

211
00:09:38,040 --> 00:09:41,640
Speaker 1: And this is a great time to look elsewhere if

212
00:09:41,679 --> 00:09:43,839
Speaker 1: you're feeling like, you know what, there's no way out

213
00:09:43,840 --> 00:09:46,640
Speaker 1: of this burnout conundrum. Uh, in the in the situation

214
00:09:46,640 --> 00:09:48,760
Speaker 1: that I currently find myself in, I've got to get

215
00:09:48,760 --> 00:09:50,920
Speaker 1: out of it completely. That's right, man. Let's talk about

216
00:09:50,920 --> 00:09:53,800
Speaker 1: cars next. The we we saw that the average price

217
00:09:54,080 --> 00:09:56,920
Speaker 1: of a new car has just topped forty five tho

218
00:09:57,200 --> 00:10:00,000
Speaker 1: dollars for the first time. This is according to consumer

219
00:10:00,040 --> 00:10:03,640
Speaker 1: reports and True Car. Uh. Dude, forty five dollars is

220
00:10:03,720 --> 00:10:06,720
Speaker 1: a tremendous amount of money. Uh, nine times when I

221
00:10:06,720 --> 00:10:10,000
Speaker 1: paid for homers And with supply chain bottlenecks and the

222
00:10:10,080 --> 00:10:12,480
Speaker 1: car industry being basically in the dumps, like you can't

223
00:10:12,480 --> 00:10:15,120
Speaker 1: even get the exact car that you want right now.

224
00:10:15,160 --> 00:10:16,559
Speaker 1: From what I'm sorry, your car is gonna have to

225
00:10:16,559 --> 00:10:18,920
Speaker 1: be hot pig, sir, And it's no seriously exactly yeah,

226
00:10:18,920 --> 00:10:20,760
Speaker 1: from I mean, there's different folks who know who are

227
00:10:20,800 --> 00:10:24,160
Speaker 1: looking at getting new vehicles and basically they can't get

228
00:10:24,200 --> 00:10:26,319
Speaker 1: what they want. It's kind of it's more like a

229
00:10:26,320 --> 00:10:29,320
Speaker 1: beggar's can't be choosers mindset or like take take what

230
00:10:29,440 --> 00:10:31,520
Speaker 1: you can get scenario out there and this that just

231
00:10:31,559 --> 00:10:34,880
Speaker 1: puts it in perspective how expensive new cars are. On

232
00:10:34,960 --> 00:10:36,920
Speaker 1: top of that, the average price on a new truck

233
00:10:37,360 --> 00:10:40,560
Speaker 1: it's even more dude sixty thou dollars. While it's uh,

234
00:10:40,600 --> 00:10:42,960
Speaker 1: it's certainly possible for a new car to be your

235
00:10:43,120 --> 00:10:45,559
Speaker 1: craft beer equivalent, you'll want to make sure that you're

236
00:10:45,559 --> 00:10:48,640
Speaker 1: doing some soul searching before you decide that it definitely is.

237
00:10:49,040 --> 00:10:51,800
Speaker 1: If you're splurge has a couple of extra zeros after it,

238
00:10:52,440 --> 00:10:54,040
Speaker 1: you can think a little bit harder. I think twice.

239
00:10:54,559 --> 00:10:56,800
Speaker 1: And even though use car prices are through the roof

240
00:10:56,960 --> 00:10:59,400
Speaker 1: as well, that just the current stratosphere that new car

241
00:10:59,440 --> 00:11:02,680
Speaker 1: prices have reached just makes it an even bigger financial

242
00:11:02,800 --> 00:11:05,080
Speaker 1: commitment and it means that your personal finances have to

243
00:11:05,080 --> 00:11:07,520
Speaker 1: be an excellent shape in order to make a purchase

244
00:11:07,679 --> 00:11:12,040
Speaker 1: of this magnitude. I agree. And speaking of consumer reports, Matt,

245
00:11:12,160 --> 00:11:14,080
Speaker 1: they were writing a bunch of winning stuff this week.

246
00:11:14,320 --> 00:11:16,400
Speaker 1: I love that they dropped the knowledge about how much

247
00:11:17,000 --> 00:11:19,199
Speaker 1: these cars are costing right now, the average price of

248
00:11:19,240 --> 00:11:22,400
Speaker 1: new car skyrocketing. But they wrote another article which showed

249
00:11:22,480 --> 00:11:25,520
Speaker 1: that Americans are overpaying on their car loans, So in

250
00:11:25,559 --> 00:11:30,600
Speaker 1: addition to the higher sticker price, they're also paying higher

251
00:11:30,679 --> 00:11:34,120
Speaker 1: rates of interest unnecessarily. In fact, despite having a great

252
00:11:34,120 --> 00:11:37,679
Speaker 1: credit score, dealerships often succeed in writing you alone at

253
00:11:37,679 --> 00:11:40,520
Speaker 1: an interest rate far beyond what you should be paying.

254
00:11:41,160 --> 00:11:43,600
Speaker 1: First things first, Matt and I don't like car loans.

255
00:11:43,640 --> 00:11:45,680
Speaker 1: We don't. Nope, I don't really like buying new cars

256
00:11:45,760 --> 00:11:49,560
Speaker 1: in general, or taking out loans to pay for depreciating assets.

257
00:11:49,840 --> 00:11:52,920
Speaker 1: Although one could argue that cars are not a depreciating

258
00:11:53,040 --> 00:11:56,640
Speaker 1: asset in the here now, but that's extremely rare. Count

259
00:11:56,640 --> 00:11:59,160
Speaker 1: on that continuing exactly, we would prefer to see you

260
00:11:59,160 --> 00:12:02,319
Speaker 1: pay cash for car, even if it means buying an

261
00:12:02,320 --> 00:12:06,400
Speaker 1: extremely used car in even like the five thousand dollar range.

262
00:12:06,559 --> 00:12:09,200
Speaker 1: That is exactly how much my current minivan cost, which

263
00:12:09,280 --> 00:12:11,360
Speaker 1: two years ago to the equivalent today might be like

264
00:12:12,920 --> 00:12:14,880
Speaker 1: maybe what you can find find a decent used car

265
00:12:14,960 --> 00:12:17,960
Speaker 1: for right, But if you do decide to take on

266
00:12:18,000 --> 00:12:20,600
Speaker 1: a car loan, know what your credit score is before

267
00:12:20,600 --> 00:12:22,800
Speaker 1: you start the search. And if you've got good credit,

268
00:12:23,040 --> 00:12:25,440
Speaker 1: we would say push to get a competitive rate. Don't

269
00:12:25,440 --> 00:12:27,640
Speaker 1: just take the rate that's given to you. And that

270
00:12:27,720 --> 00:12:30,600
Speaker 1: means shopping around, and so we would say check with

271
00:12:30,640 --> 00:12:32,800
Speaker 1: your local credit union to see what rates you might

272
00:12:32,880 --> 00:12:36,280
Speaker 1: qualify for before you go car shopping. You want to

273
00:12:36,320 --> 00:12:39,600
Speaker 1: have that quote in hand so that when a dealership says,

274
00:12:39,760 --> 00:12:41,600
Speaker 1: here's the rate you qualify at and you say, that's

275
00:12:41,600 --> 00:12:44,280
Speaker 1: funny my credit unions, as I qualify at three and

276
00:12:44,280 --> 00:12:46,920
Speaker 1: a half percent and you're telling me it's that doesn't

277
00:12:46,920 --> 00:12:50,040
Speaker 1: make any sense. And since we're seeing record levels of

278
00:12:50,080 --> 00:12:53,400
Speaker 1: car deebt overall, it's just important to mention that cardet sucks,

279
00:12:53,600 --> 00:12:55,680
Speaker 1: like it's it's a crummy thing to have. We don't

280
00:12:55,679 --> 00:12:57,720
Speaker 1: want you to have it. It might have become perfectly

281
00:12:57,760 --> 00:13:00,880
Speaker 1: normal in our culture overall, but it shouldn't be normal

282
00:13:00,920 --> 00:13:03,280
Speaker 1: for how the money listeners. We want you to avoid it,

283
00:13:03,320 --> 00:13:05,000
Speaker 1: like the plague. Yeah, so the higher costs of new

284
00:13:05,000 --> 00:13:07,800
Speaker 1: cars in general. That, coupled with higher rates of interest

285
00:13:07,880 --> 00:13:10,640
Speaker 1: that these different lenders are pushing on folks. Both of

286
00:13:10,640 --> 00:13:14,000
Speaker 1: those things have led to the average new car monthly

287
00:13:14,080 --> 00:13:17,280
Speaker 1: payment being five hundred and sixty bucks last year, all

288
00:13:17,360 --> 00:13:19,360
Speaker 1: time highs, which would give you more than enough to

289
00:13:19,440 --> 00:13:22,760
Speaker 1: fully fund a roth Ira. So essentially, that car payment

290
00:13:22,840 --> 00:13:25,439
Speaker 1: is keeping you from becoming a millionaire by the time

291
00:13:25,440 --> 00:13:27,560
Speaker 1: you retire. Keep that in mind when you think about

292
00:13:27,559 --> 00:13:29,960
Speaker 1: it like that, the trade off factor, it's like it's

293
00:13:30,040 --> 00:13:32,600
Speaker 1: not worth it. No, not not at all, uh and dued.

294
00:13:32,640 --> 00:13:34,199
Speaker 1: One of the worst parts about buying a new car,

295
00:13:34,840 --> 00:13:37,480
Speaker 1: I mean, besides how much they cost, is the car

296
00:13:37,520 --> 00:13:40,360
Speaker 1: warranty robotcalls that you'll have to endure might be worse

297
00:13:40,360 --> 00:13:42,199
Speaker 1: than the monthly payment. You've seen like the different memes

298
00:13:42,360 --> 00:13:44,319
Speaker 1: right where it's just like we've been trying to contact

299
00:13:44,320 --> 00:13:46,839
Speaker 1: you about your car's extent. Do you have you seen those?

300
00:13:47,200 --> 00:13:49,319
Speaker 1: I have? They're like yeah, and um, like a fortune

301
00:13:49,360 --> 00:13:52,640
Speaker 1: cookie or like on a pregnancy test or my favorite one.

302
00:13:52,640 --> 00:13:55,199
Speaker 1: I actually saw them reasonably that I like looking at memes. Uh,

303
00:13:55,360 --> 00:13:57,080
Speaker 1: It's how I like to spend the remaining minutes I

304
00:13:57,120 --> 00:13:59,040
Speaker 1: have before I go to bed. But there was one

305
00:13:59,080 --> 00:14:02,120
Speaker 1: that I saw that was on the Squid Game invitation card,

306
00:14:02,240 --> 00:14:04,400
Speaker 1: you know the card where they invite folks to the game,

307
00:14:04,440 --> 00:14:06,240
Speaker 1: and he flips it over and it's like, we've been

308
00:14:06,240 --> 00:14:09,840
Speaker 1: trying to contact you. Which on that note, actually next

309
00:14:09,880 --> 00:14:12,960
Speaker 1: week we actually recorded a Squid Game financial Lessons money

310
00:14:13,040 --> 00:14:15,320
Speaker 1: lessons episode, and you can look forward to uh to

311
00:14:15,440 --> 00:14:19,040
Speaker 1: that one next week next Wednesday. But regarding these robocalls,

312
00:14:19,080 --> 00:14:23,120
Speaker 1: Americans receive roughly thirteen billion of these specific types of

313
00:14:23,160 --> 00:14:26,280
Speaker 1: phone calls every year. They're actually the top scam phone

314
00:14:26,320 --> 00:14:28,720
Speaker 1: call in the US right now, according to robo Killer,

315
00:14:28,960 --> 00:14:32,120
Speaker 1: and according to the FTC, the Federal Trade Commission. Uh So,

316
00:14:32,200 --> 00:14:34,480
Speaker 1: David Lazarus from the l A times, he picked up

317
00:14:34,480 --> 00:14:36,680
Speaker 1: his pen, he got to work his proverbial pan. I

318
00:14:36,760 --> 00:14:39,760
Speaker 1: think the laptop his repetic choices. True, he probably actually

319
00:14:39,800 --> 00:14:42,720
Speaker 1: writes things out on the computer. But he noted that

320
00:14:42,760 --> 00:14:45,880
Speaker 1: these these supposed warranties are actually just service contracts that

321
00:14:45,920 --> 00:14:48,120
Speaker 1: aren't worth the paper that they're written on. I think

322
00:14:48,120 --> 00:14:50,600
Speaker 1: we all maybe suspected that, but he is confirming it,

323
00:14:50,760 --> 00:14:52,560
Speaker 1: and we wanted to share that with you. But these

324
00:14:52,560 --> 00:14:55,600
Speaker 1: extended warranties, in general, it's a tenuous decision. These aren't

325
00:14:55,640 --> 00:14:57,920
Speaker 1: great products, and we would prefer for you to have

326
00:14:58,000 --> 00:15:00,920
Speaker 1: the money on hand to pay for these hairs instead

327
00:15:00,960 --> 00:15:04,360
Speaker 1: of plunking down thousands of dollars on a warranty, even

328
00:15:04,520 --> 00:15:07,640
Speaker 1: if it's directly for the manufacturer of your vehicle. But

329
00:15:07,760 --> 00:15:09,400
Speaker 1: if you're getting a call from, you know, one of

330
00:15:09,440 --> 00:15:13,040
Speaker 1: these scam warranty companies, we would recommend that you definitely

331
00:15:13,080 --> 00:15:14,800
Speaker 1: hang up the phone. Yes, and if you open up

332
00:15:14,800 --> 00:15:18,360
Speaker 1: the fortune Cookie, just toss that in the trash, because, yeah,

333
00:15:18,400 --> 00:15:20,720
Speaker 1: you want to avoid these in every turn. The manufacturers

334
00:15:20,720 --> 00:15:24,240
Speaker 1: warranties aren't trash, They're still probably not worth the money.

335
00:15:24,280 --> 00:15:26,440
Speaker 1: It's better just to have the money on hand and

336
00:15:26,560 --> 00:15:29,280
Speaker 1: not put the thousands of hard earned dollars towards that

337
00:15:29,320 --> 00:15:33,040
Speaker 1: extended warranty, especially if the kind of vehicle that you

338
00:15:33,040 --> 00:15:37,080
Speaker 1: you purchased is mostly reliable. But yeah, without being literally

339
00:15:37,120 --> 00:15:39,440
Speaker 1: the hottest, the number one scam these days, we wanted

340
00:15:39,480 --> 00:15:42,440
Speaker 1: to mention hang up the phone, don't even consider it.

341
00:15:42,760 --> 00:15:45,840
Speaker 1: But we've got more to get to on this episode, Matt,

342
00:15:45,880 --> 00:15:49,720
Speaker 1: including cries of hyper inflation from the Twitter Master himself.

343
00:15:49,800 --> 00:16:00,720
Speaker 1: Well we'll talk about that right after this. All Right,

344
00:16:00,760 --> 00:16:02,880
Speaker 1: we're back for the break talking about headlines we came

345
00:16:02,920 --> 00:16:05,840
Speaker 1: across this week. This is our Friday Flights, and of

346
00:16:05,880 --> 00:16:08,440
Speaker 1: course it's time now to get to our ludicrous headline

347
00:16:08,440 --> 00:16:10,040
Speaker 1: of the week, which actually doesn't have to do with

348
00:16:10,120 --> 00:16:12,440
Speaker 1: hyper inflation. Uh. We'll get to that story here in

349
00:16:12,440 --> 00:16:15,520
Speaker 1: a second. But the actual ludicrous headline is Florida Man,

350
00:16:15,920 --> 00:16:18,560
Speaker 1: which you always gotta love Headlina Stori Florida Man. Uh,

351
00:16:18,600 --> 00:16:22,080
Speaker 1: Florida Man, you piqued my interest already wins lottery and

352
00:16:22,160 --> 00:16:25,760
Speaker 1: plans to buy a toothbrush. This is an article from

353
00:16:25,760 --> 00:16:28,160
Speaker 1: a local news organization in Florida and listener Dan he

354
00:16:28,200 --> 00:16:31,000
Speaker 1: posted this in the Facebook group a young dude named Brian.

355
00:16:31,080 --> 00:16:33,880
Speaker 1: He ended up winning a million bucks from a scratch off,

356
00:16:34,160 --> 00:16:36,360
Speaker 1: and you know, good for him, glad he wants some money.

357
00:16:36,360 --> 00:16:38,560
Speaker 1: But we just wanted everyone real quick to know that

358
00:16:38,640 --> 00:16:42,320
Speaker 1: we do not support you playing the lottery. I mean,

359
00:16:42,600 --> 00:16:43,760
Speaker 1: here's the thing. If you buy a new car and

360
00:16:43,760 --> 00:16:46,280
Speaker 1: don't play the lottery, if you are doing it because

361
00:16:46,320 --> 00:16:48,520
Speaker 1: you know that you're just doing it for kicks, and

362
00:16:48,560 --> 00:16:51,240
Speaker 1: if you're in a financial position to absorb that cost,

363
00:16:51,280 --> 00:16:54,360
Speaker 1: and maybe I wanted to be in your budget, like

364
00:16:54,360 --> 00:16:57,160
Speaker 1: like I wanted to be this planned, uh, decisive thing

365
00:16:57,200 --> 00:16:59,920
Speaker 1: that you've decided in a moment of clarity, something that

366
00:17:00,080 --> 00:17:02,600
Speaker 1: your coworkers or something like that. It's it's it feels okay,

367
00:17:02,640 --> 00:17:04,760
Speaker 1: but if you're going to the gas station every every

368
00:17:04,840 --> 00:17:08,560
Speaker 1: day kind of thing, that's probably unhealthy. Exactly. Yeah. But

369
00:17:08,560 --> 00:17:11,480
Speaker 1: but Brian, he was insanely lucky, and so now he's

370
00:17:11,480 --> 00:17:14,280
Speaker 1: got a lot of unexpected money flowing into his life,

371
00:17:14,600 --> 00:17:16,560
Speaker 1: and so what's he gonna do with it? He wants

372
00:17:16,600 --> 00:17:20,560
Speaker 1: a new pair of flip flaps, plus that electric toothbrush

373
00:17:20,720 --> 00:17:23,040
Speaker 1: that we mentioned in the title. Uh, this guy is awesome.

374
00:17:23,440 --> 00:17:26,120
Speaker 1: It sounds like that. Hopefully he'll be able to avoid,

375
00:17:26,560 --> 00:17:29,040
Speaker 1: you know, the lott of curse of declaring bankruptcy within

376
00:17:29,080 --> 00:17:32,119
Speaker 1: just a couple of years of winning. So fingers crossed

377
00:17:32,119 --> 00:17:34,080
Speaker 1: that he'll be able to keep his desires in check

378
00:17:34,320 --> 00:17:36,639
Speaker 1: as that money starts to flow into his account. And

379
00:17:36,680 --> 00:17:39,080
Speaker 1: by the way, you know, he won a million bucks,

380
00:17:39,119 --> 00:17:41,680
Speaker 1: but he's actually receiving less than eight hundred thousand because

381
00:17:41,680 --> 00:17:44,520
Speaker 1: of taxes. Taxes. Gotta keep that in mind. You definitely, yeah,

382
00:17:44,600 --> 00:17:46,240
Speaker 1: did you start spending all that money? You see the

383
00:17:46,240 --> 00:17:48,400
Speaker 1: headline number and it's like, that's not actually how much

384
00:17:48,400 --> 00:17:50,399
Speaker 1: money you're gonna get, And if he lived in a

385
00:17:50,440 --> 00:17:53,119
Speaker 1: state like California, he'd beginning even less but more of

386
00:17:53,160 --> 00:17:56,040
Speaker 1: those state income tax So good on you, Brian. But Matt,

387
00:17:56,080 --> 00:17:58,280
Speaker 1: let's let's just keep moving on. If the ludicrous headline

388
00:17:58,920 --> 00:18:01,840
Speaker 1: was a tweet in my have been one from Twitter

389
00:18:01,880 --> 00:18:04,920
Speaker 1: CEO Jack Dorsey this week, he made a remark about

390
00:18:05,000 --> 00:18:08,840
Speaker 1: hyper inflation, and his tweet read, and I quote, hyper

391
00:18:08,840 --> 00:18:12,919
Speaker 1: inflation is going to change everything. It's happening, end quote,

392
00:18:13,680 --> 00:18:15,960
Speaker 1: And all right, buddy. I didn't know how to respond

393
00:18:16,000 --> 00:18:18,040
Speaker 1: to that. I didn't actually respond to that, and not

394
00:18:18,040 --> 00:18:19,159
Speaker 1: that he would have read it if I didn't. I

395
00:18:19,160 --> 00:18:20,840
Speaker 1: think he was waiting on you to get He's like,

396
00:18:21,800 --> 00:18:24,240
Speaker 1: how do the how do money guys feel about my tweets?

397
00:18:24,480 --> 00:18:26,760
Speaker 1: What do you think about my take? Well? I think

398
00:18:26,760 --> 00:18:29,080
Speaker 1: my complete dismissal love it. Jack tells you everything you

399
00:18:29,119 --> 00:18:31,680
Speaker 1: need to know. It's important to note, though, that there

400
00:18:31,760 --> 00:18:35,359
Speaker 1: is a huge difference between the inflation that is happening

401
00:18:35,400 --> 00:18:37,160
Speaker 1: right now that Matt and I have been talking about

402
00:18:37,200 --> 00:18:41,239
Speaker 1: four months and months and months and hyper inflation. Just

403
00:18:41,320 --> 00:18:44,439
Speaker 1: ask somebody who lives in Venezuela what hyper inflation like

404
00:18:45,000 --> 00:18:48,119
Speaker 1: it's a completely different scenario than what we're enduring here

405
00:18:48,119 --> 00:18:50,400
Speaker 1: in the United States, where it's like two thousand percent.

406
00:18:50,640 --> 00:18:52,960
Speaker 1: Is their inflation right right? Exactly? Yes, And it's a

407
00:18:52,960 --> 00:18:55,080
Speaker 1: far cry from what we are currently dealing with. And

408
00:18:55,119 --> 00:18:58,400
Speaker 1: when he says it's happening now, well, hyper inflation has

409
00:18:58,400 --> 00:19:02,000
Speaker 1: an actual definition, and you can compare what's happening now

410
00:19:02,240 --> 00:19:05,040
Speaker 1: in real numbers to the actual definition, and you can

411
00:19:05,080 --> 00:19:07,840
Speaker 1: see that it doesn't hold any water. His argument doesn't

412
00:19:07,840 --> 00:19:11,480
Speaker 1: hold any water. And basically the definition is when the

413
00:19:11,560 --> 00:19:14,440
Speaker 1: price for goods and services are going up at roughly

414
00:19:14,520 --> 00:19:17,680
Speaker 1: fifty percent a month or a thousand percent in a year.

415
00:19:17,920 --> 00:19:20,840
Speaker 1: And so we talked about rising prices in this country,

416
00:19:20,920 --> 00:19:24,360
Speaker 1: and they certainly are going up, but that would mean

417
00:19:24,520 --> 00:19:27,160
Speaker 1: that that price or on that good or services going

418
00:19:27,240 --> 00:19:31,400
Speaker 1: up every single day. Like you might check a price

419
00:19:31,400 --> 00:19:33,240
Speaker 1: on Amazon in the morning about that evening it costs

420
00:19:33,240 --> 00:19:35,440
Speaker 1: ten percent more and you're like, WHOA, I should have

421
00:19:35,480 --> 00:19:37,840
Speaker 1: bought it earlier. But that is not what's happening in

422
00:19:37,840 --> 00:19:41,920
Speaker 1: this like a year later, not twenty four hours later. Yes, yes,

423
00:19:41,960 --> 00:19:44,159
Speaker 1: And so I feel like this is like kind of

424
00:19:44,280 --> 00:19:47,320
Speaker 1: crying wolf. It's getting people throwing some people in a tizzy,

425
00:19:47,400 --> 00:19:50,000
Speaker 1: and no, hyper inflation is not here. We all know

426
00:19:50,040 --> 00:19:52,080
Speaker 1: that Twitter is not the best place to get your

427
00:19:52,200 --> 00:19:56,679
Speaker 1: information or to have a nuanced conversation about the crucial

428
00:19:56,720 --> 00:19:59,639
Speaker 1: topics of our day. But this really only reinforces that

429
00:20:00,080 --> 00:20:02,359
Speaker 1: inflation that we are experiencing. Like, like you said, Jill,

430
00:20:02,400 --> 00:20:05,240
Speaker 1: it is sticking around more than we expected, but we're

431
00:20:05,320 --> 00:20:08,760
Speaker 1: nowhere near hyper inflation like it would seriously wreck our economy,

432
00:20:08,960 --> 00:20:11,359
Speaker 1: and we are not seeing that. I'm not gonna say

433
00:20:11,400 --> 00:20:14,080
Speaker 1: that it's impossible because I don't know what the future holds,

434
00:20:14,280 --> 00:20:16,360
Speaker 1: but it is not something at all that we're expecting

435
00:20:16,600 --> 00:20:19,320
Speaker 1: to see on the horizon anytime soon. And Joel, since

436
00:20:19,320 --> 00:20:22,000
Speaker 1: we've just got them talking about sort of a tech blunder,

437
00:20:22,240 --> 00:20:24,399
Speaker 1: maybe Jack stepping in it a little bit there on Twitter,

438
00:20:24,600 --> 00:20:29,120
Speaker 1: let's mention another This one involves buying stuff online. Bloomberg

439
00:20:29,200 --> 00:20:33,040
Speaker 1: they had this interesting article about bots buying Christmas gifts.

440
00:20:33,280 --> 00:20:36,480
Speaker 1: That's right, it sounds cute. This is these are non

441
00:20:36,480 --> 00:20:40,440
Speaker 1: cute boty little bot daughters and less robots and more

442
00:20:40,480 --> 00:20:44,840
Speaker 1: automated software which is snapping up in demand items and

443
00:20:44,920 --> 00:20:47,880
Speaker 1: reselling them for a profit. Uh, these bots are doing

444
00:20:47,880 --> 00:20:49,760
Speaker 1: the bidding of folks who are trying to make just

445
00:20:50,000 --> 00:20:53,240
Speaker 1: a massive profit from items that are in extremely limited supply.

446
00:20:53,840 --> 00:20:56,080
Speaker 1: This is especially prevalent in like the white hot market

447
00:20:56,119 --> 00:20:58,720
Speaker 1: of sneakers, you know, after this, bots will buy hundreds

448
00:20:58,920 --> 00:21:01,119
Speaker 1: or thousands of items just in your seconds. They then

449
00:21:01,160 --> 00:21:03,600
Speaker 1: just will turn around and then list those now sold

450
00:21:03,640 --> 00:21:06,280
Speaker 1: out items on sites like eBay, which I don't like.

451
00:21:06,400 --> 00:21:09,320
Speaker 1: I don't like ebab being used that way for double

452
00:21:10,000 --> 00:21:11,879
Speaker 1: has a site. Though I like eBay, I don't like

453
00:21:11,920 --> 00:21:14,560
Speaker 1: that that's happening to eBay because, like I mean, it

454
00:21:14,560 --> 00:21:16,919
Speaker 1: makes eBay get a bad rap exactly. Yeah, And I

455
00:21:16,920 --> 00:21:19,199
Speaker 1: see baseball. I see it as such, especially since I've

456
00:21:19,200 --> 00:21:20,679
Speaker 1: been on there selling more recently. I see it as

457
00:21:20,720 --> 00:21:23,320
Speaker 1: such a bastion of uh, you know, instead of you know,

458
00:21:23,359 --> 00:21:25,399
Speaker 1: buying nothing. It's like, well, you can buy stuff you

459
00:21:25,400 --> 00:21:28,480
Speaker 1: need and make a small profit, but it just helps

460
00:21:28,560 --> 00:21:31,200
Speaker 1: keep stuff from going into the landfills. And how many

461
00:21:31,280 --> 00:21:35,320
Speaker 1: yeasies did you buy while you run there? None? But sadly,

462
00:21:35,560 --> 00:21:37,600
Speaker 1: these folks who are doing this, there's not much that

463
00:21:38,080 --> 00:21:39,720
Speaker 1: can be done about it. There are there are a

464
00:21:39,720 --> 00:21:42,720
Speaker 1: couple of companies that are selling this just different anti

465
00:21:42,840 --> 00:21:45,480
Speaker 1: bought software to some of the big retailers like Walmart,

466
00:21:45,800 --> 00:21:47,560
Speaker 1: and hopefully we will see that curb some of the

467
00:21:47,880 --> 00:21:50,879
Speaker 1: this nefarious behavior that's going on. However, we wanted to

468
00:21:50,880 --> 00:21:53,160
Speaker 1: share this with you because if there is an item

469
00:21:53,200 --> 00:21:55,520
Speaker 1: that you really really want and it sells out, that

470
00:21:55,520 --> 00:21:57,840
Speaker 1: doesn't mean that you should pay double or even triple

471
00:21:57,880 --> 00:22:00,240
Speaker 1: for it elsewhere. Instead, we want you to keep shopping

472
00:22:00,880 --> 00:22:03,080
Speaker 1: or maybe even do the harder thing of like changing

473
00:22:03,119 --> 00:22:05,280
Speaker 1: your mind and say, Okay, I no longer want this

474
00:22:05,320 --> 00:22:07,200
Speaker 1: thing that I really really wanted to do some mental

475
00:22:07,240 --> 00:22:11,520
Speaker 1: gymnastics jedi mind, choose something else. The Star Wars like

476
00:22:11,560 --> 00:22:13,720
Speaker 1: that two for two. I think we actually got that

477
00:22:13,760 --> 00:22:15,720
Speaker 1: one right where these are no longer the yeasies you

478
00:22:15,720 --> 00:22:18,800
Speaker 1: are looking for. I love it if you could say

479
00:22:18,800 --> 00:22:20,320
Speaker 1: that to yourself, it's gonna help a lot. That's what

480
00:22:20,359 --> 00:22:22,520
Speaker 1: you want to do exactly, because we're we're going to

481
00:22:22,600 --> 00:22:25,600
Speaker 1: see more and more of these shenanigans, whatever the hot

482
00:22:25,680 --> 00:22:29,560
Speaker 1: toy is of the moment. We're gonna see more people

483
00:22:29,640 --> 00:22:33,520
Speaker 1: with these automated programs snapping them up, basically grinch ing

484
00:22:34,200 --> 00:22:36,840
Speaker 1: this stuff that you might have bought for your child

485
00:22:36,960 --> 00:22:39,840
Speaker 1: or for yourself, and um, yeah, I hate seeing that

486
00:22:39,880 --> 00:22:43,359
Speaker 1: Hopefully these anti bought softwares that are are are starting

487
00:22:43,359 --> 00:22:47,320
Speaker 1: to get really good, are implemented more widely across more

488
00:22:47,320 --> 00:22:49,679
Speaker 1: more of these sites that these bots are targeting. But

489
00:22:49,960 --> 00:22:52,159
Speaker 1: let's move on to student loans for a second map

490
00:22:52,240 --> 00:22:54,359
Speaker 1: there there is some some urgent news that we have

491
00:22:54,440 --> 00:22:57,800
Speaker 1: to share for anybody out there who has student loans. No,

492
00:22:58,080 --> 00:23:01,360
Speaker 1: your payments have not resumed yet the the Education coming

493
00:23:01,400 --> 00:23:04,360
Speaker 1: up soon next year in February, but the Education Department

494
00:23:04,400 --> 00:23:09,240
Speaker 1: has relaxed the requirements for what counts as qualified payments

495
00:23:09,320 --> 00:23:13,359
Speaker 1: in the PSLF program Public Service Loan Forgiveness. This is

496
00:23:13,440 --> 00:23:17,000
Speaker 1: huge because it means that about twenty two borrowers will

497
00:23:17,040 --> 00:23:22,480
Speaker 1: automatically see their remaining loans erased straight up, poof gone yep,

498
00:23:22,760 --> 00:23:25,880
Speaker 1: like magic, and then another twenty seven thousand borrowers could

499
00:23:25,960 --> 00:23:28,959
Speaker 1: join them if they can show they were previously working

500
00:23:29,400 --> 00:23:33,040
Speaker 1: in public service when they made payments that were considered

501
00:23:33,040 --> 00:23:37,800
Speaker 1: ineligible at the time. And additionally, and estimated five hundred

502
00:23:37,880 --> 00:23:40,840
Speaker 1: and fifty thousand borrowers will be able to have payments

503
00:23:41,040 --> 00:23:45,240
Speaker 1: that were previously made to Federal Family Education loans and

504
00:23:45,320 --> 00:23:49,719
Speaker 1: Federal Perkins loans count towards PSLF two. The only catches.

505
00:23:49,800 --> 00:23:53,879
Speaker 1: If you haven't applied for PSLF, you have until October

506
00:23:54,000 --> 00:23:56,960
Speaker 1: thirty one, Halloween, which is this weekend. You could do

507
00:23:57,000 --> 00:23:58,840
Speaker 1: so you've got two days. So we're gonna put the

508
00:23:58,840 --> 00:24:01,879
Speaker 1: link to this where you do that. On how to

509
00:24:01,960 --> 00:24:04,360
Speaker 1: money dot com. Time is of the essence. You gotta

510
00:24:04,400 --> 00:24:06,480
Speaker 1: do it immediately, but I'll read the website real quick

511
00:24:06,480 --> 00:24:09,639
Speaker 1: to it's student aid dot gov slash p s l

512
00:24:09,720 --> 00:24:13,359
Speaker 1: F waiver. That's right. And on the note of student loans,

513
00:24:13,520 --> 00:24:15,320
Speaker 1: you know, we've talked about a few of the major

514
00:24:15,359 --> 00:24:17,760
Speaker 1: student loan servicers who are all getting out of the

515
00:24:17,800 --> 00:24:21,040
Speaker 1: federal student loan servicing game. So let's give some more

516
00:24:21,080 --> 00:24:23,760
Speaker 1: details on that. Specifically, loans with navigants are going to

517
00:24:23,840 --> 00:24:26,320
Speaker 1: be now serviced by Maximus. If you're with FED Loan,

518
00:24:26,359 --> 00:24:29,560
Speaker 1: you might end up over at Mohila Nell, Net, ed

519
00:24:29,640 --> 00:24:32,240
Speaker 1: Financial and Maximus. Those are all options for you, and

520
00:24:32,280 --> 00:24:34,560
Speaker 1: then Granite State loans will be transferred over to ed

521
00:24:34,600 --> 00:24:36,919
Speaker 1: Financial as well. Uh. This is all gonna be happening

522
00:24:36,960 --> 00:24:39,800
Speaker 1: in the next couple of months and new servicers should

523
00:24:39,840 --> 00:24:42,000
Speaker 1: be in place by the end of the year. Your

524
00:24:42,119 --> 00:24:44,240
Speaker 1: repayment plans and interest rates will all remain the same,

525
00:24:44,280 --> 00:24:46,920
Speaker 1: of course, and the good news is that you shouldn't

526
00:24:47,040 --> 00:24:48,919
Speaker 1: have to do anything. If your loans are currently in

527
00:24:48,960 --> 00:24:52,000
Speaker 1: deferment or if they're in forbearance, that should automatically carry over.

528
00:24:52,400 --> 00:24:55,520
Speaker 1: But of course, with something this big and complicated, uh,

529
00:24:55,560 --> 00:24:58,000
Speaker 1: something where the federal government is involved, you never know.

530
00:24:58,240 --> 00:24:59,719
Speaker 1: And so that's why we want this to be on

531
00:24:59,800 --> 00:25:02,040
Speaker 1: your radar. A lot of moving parts right here, Yeah,

532
00:25:02,040 --> 00:25:03,560
Speaker 1: a lot of things going on, and I would be

533
00:25:03,880 --> 00:25:06,600
Speaker 1: actually shocked if everything goes as smoothly as it's supposed

534
00:25:06,640 --> 00:25:09,040
Speaker 1: to agree. Just like in my own life, I assume

535
00:25:09,119 --> 00:25:11,760
Speaker 1: that things are going to go goes well. Whenever I

536
00:25:11,800 --> 00:25:14,199
Speaker 1: am telling Emily how long it's gonna take me to

537
00:25:14,200 --> 00:25:16,359
Speaker 1: fix something, how long I'll be away from the house,

538
00:25:16,960 --> 00:25:19,080
Speaker 1: She's always like twenty minutes. Really, like, how long is

539
00:25:19,080 --> 00:25:21,359
Speaker 1: it actually gonna take time? Three? Yeah, well, I think

540
00:25:21,400 --> 00:25:23,360
Speaker 1: it's gonna take twenty minutes because I'm an optimist, but

541
00:25:23,600 --> 00:25:25,560
Speaker 1: you're right, it is always times more like an hour.

542
00:25:26,400 --> 00:25:29,080
Speaker 1: And some of you may have already received information on this,

543
00:25:29,280 --> 00:25:31,199
Speaker 1: but if you haven't, we would suggest logging into your

544
00:25:31,240 --> 00:25:33,880
Speaker 1: current service or making sure they have all your updated

545
00:25:33,880 --> 00:25:36,439
Speaker 1: information because you want to make sure you're getting all

546
00:25:36,440 --> 00:25:39,560
Speaker 1: the correct details about the transition, and even if you

547
00:25:39,920 --> 00:25:42,680
Speaker 1: have been getting that updated info, it wouldn't hurt to

548
00:25:42,720 --> 00:25:45,800
Speaker 1: go ahead and make sure you have copies of all

549
00:25:45,920 --> 00:25:48,640
Speaker 1: your information, like your payment history and your current balance

550
00:25:48,680 --> 00:25:52,560
Speaker 1: is on hand. In particular, if you're working towards PSLF,

551
00:25:52,600 --> 00:25:56,520
Speaker 1: you'll want to file an employment certification form to verify

552
00:25:56,600 --> 00:25:58,680
Speaker 1: the number of payments you've made so far. It's an

553
00:25:58,680 --> 00:26:00,919
Speaker 1: e c F by the way, you like the abbreviations

554
00:26:01,320 --> 00:26:05,960
Speaker 1: go for us. Again, none of this should be absolutely necessary,

555
00:26:06,040 --> 00:26:08,439
Speaker 1: but it wouldn't hurt to have your info saved on

556
00:26:08,480 --> 00:26:11,680
Speaker 1: your own computer in case any snaff woos arise. One

557
00:26:11,720 --> 00:26:15,040
Speaker 1: thing you will need to do. Most folks probably were

558
00:26:15,160 --> 00:26:17,840
Speaker 1: enrolled in auto pay back before your federal student loans

559
00:26:17,840 --> 00:26:20,480
Speaker 1: were put on hiatus. If so, you actually need to

560
00:26:20,520 --> 00:26:23,000
Speaker 1: confirm your auto pay in order for those payments to

561
00:26:23,000 --> 00:26:26,399
Speaker 1: automatically resume in February. So if your service or has changed,

562
00:26:26,560 --> 00:26:29,800
Speaker 1: those auto payments aren't going to just turn on and resume.

563
00:26:30,080 --> 00:26:31,600
Speaker 1: You've got to go in there and manually do something

564
00:26:31,680 --> 00:26:33,680
Speaker 1: exactly Yeah, and you know there's no rush on that,

565
00:26:33,960 --> 00:26:36,080
Speaker 1: unlike the making sure that you sign up for that

566
00:26:36,080 --> 00:26:39,159
Speaker 1: pslf waiver, but do keep that mind as you are

567
00:26:39,160 --> 00:26:41,639
Speaker 1: transitioned over to that new service or but will But

568
00:26:41,640 --> 00:26:44,119
Speaker 1: I'm pretty sure we'll be revisiting this topic in the

569
00:26:44,119 --> 00:26:46,560
Speaker 1: coming months, as well as we get closer to February

570
00:26:46,640 --> 00:26:48,760
Speaker 1: of next year. But Joe, that's gonna be it for

571
00:26:48,800 --> 00:26:50,440
Speaker 1: this episode. Again, we want to remind folks that we

572
00:26:50,480 --> 00:26:52,960
Speaker 1: were gonna have that listener hang coming up next Friday,

573
00:26:53,040 --> 00:26:55,840
Speaker 1: November five. You should be able to recognize Joel and I.

574
00:26:55,920 --> 00:26:57,440
Speaker 1: We look like the guys on the cover of your

575
00:26:57,560 --> 00:27:01,120
Speaker 1: podcast artwork, except I do different. I got longer hair now.

576
00:27:01,200 --> 00:27:04,720
Speaker 1: But we'll be out there hopefully. Interest It's not that great.

577
00:27:04,920 --> 00:27:07,159
Speaker 1: I'm just I'm just giving you. Hey. I'm I'm actually

578
00:27:07,160 --> 00:27:10,119
Speaker 1: not ashamed of having uh not just gray but white hairs.

579
00:27:10,240 --> 00:27:12,480
Speaker 1: It's a sign of maturity, that's what some would say.

580
00:27:12,520 --> 00:27:14,960
Speaker 1: But yeah, and I'm wisdom. I'm gonna go do some

581
00:27:15,280 --> 00:27:17,760
Speaker 1: chopping tonight and watch the Braves win. But yeah, we

582
00:27:17,800 --> 00:27:19,879
Speaker 1: hope to see you next Friday night at Monday Night

583
00:27:19,880 --> 00:27:22,280
Speaker 1: Garage if you live in Atlanta at seven forty five.

584
00:27:22,320 --> 00:27:24,800
Speaker 1: Follow us on Instagram for more details. But it's gonna

585
00:27:24,800 --> 00:27:27,520
Speaker 1: be a lot of fun having beers with fellow money nerds,

586
00:27:27,600 --> 00:27:30,880
Speaker 1: but Matt until next time. Best friends out, best friends out,