1 00:00:00,120 --> 00:00:03,400 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt. 2 00:00:03,600 --> 00:00:07,920 Speaker 1: Today we're discussing imposter syndrome, rental biding wars, and costly cookouts. 3 00:00:26,880 --> 00:00:29,040 Speaker 1: So when you say costly cookouts, it does make me 4 00:00:29,080 --> 00:00:32,159 Speaker 1: think of our local fast food chain. And it's not 5 00:00:32,200 --> 00:00:34,360 Speaker 1: our local fast food chain based on North Carolina. I 6 00:00:34,360 --> 00:00:36,319 Speaker 1: believe they are in the southeast though, so you may 7 00:00:36,320 --> 00:00:39,120 Speaker 1: not have come across a cookout. But the reason I'll 8 00:00:39,120 --> 00:00:41,120 Speaker 1: bring them up, it's because they're ridiculous. You can get 9 00:00:41,120 --> 00:00:44,400 Speaker 1: a side of like two corn dogs or something like that, 10 00:00:44,479 --> 00:00:47,199 Speaker 1: or a milkshake as a side item. Um. Not the 11 00:00:47,200 --> 00:00:49,160 Speaker 1: most healthy, No, no, it's not. It's hype of place 12 00:00:49,200 --> 00:00:51,360 Speaker 1: to visit, but also the kind of place that you 13 00:00:51,640 --> 00:00:54,600 Speaker 1: might visit down here in the South. I don't know, um, 14 00:00:54,600 --> 00:00:57,080 Speaker 1: but we are going to talk about costly cookouts. And 15 00:00:57,520 --> 00:00:59,600 Speaker 1: by the way, dude, here we go. This is our 16 00:00:59,600 --> 00:01:03,280 Speaker 1: first episode that we are recording here in the new space. 17 00:01:03,320 --> 00:01:05,399 Speaker 1: It's in the new dig It's different because there is 18 00:01:05,440 --> 00:01:07,800 Speaker 1: like a much bigger window behind you now and so 19 00:01:08,280 --> 00:01:10,200 Speaker 1: just so you're used to seeing just a panel of 20 00:01:10,280 --> 00:01:14,080 Speaker 1: acoustics that's right material, and so now there's like light 21 00:01:14,120 --> 00:01:16,560 Speaker 1: coming from behind your like, I love to light in 22 00:01:16,600 --> 00:01:19,760 Speaker 1: this new office. So it's basically it's just garage apartment. 23 00:01:20,240 --> 00:01:22,520 Speaker 1: It's and that we're running in in someone that we 24 00:01:22,760 --> 00:01:25,840 Speaker 1: kind of peripherbally new in their back in the back 25 00:01:25,840 --> 00:01:28,480 Speaker 1: of their house. And it's delightful. Man Like, we we 26 00:01:28,600 --> 00:01:31,280 Speaker 1: don't put it together earlier this week and we're there 27 00:01:31,319 --> 00:01:34,479 Speaker 1: is the first episode we're literally recording here. But it's 28 00:01:34,480 --> 00:01:36,679 Speaker 1: been a blast getting settled in here and kind of 29 00:01:36,760 --> 00:01:38,280 Speaker 1: chicken things out there. We spent the last couple of 30 00:01:38,360 --> 00:01:41,600 Speaker 1: days setting up acoustically treating the space. The number of 31 00:01:41,680 --> 00:01:43,440 Speaker 1: rugs that we have in here is kind of ridiculous 32 00:01:43,440 --> 00:01:46,160 Speaker 1: because we recently moved and so kind of leftover rug 33 00:01:46,200 --> 00:01:48,480 Speaker 1: pads and rugs that we weren't going to use in 34 00:01:48,480 --> 00:01:51,360 Speaker 1: the new space kind of ended up over here. And 35 00:01:51,440 --> 00:01:53,680 Speaker 1: that's a good thing from an acoustic standpoint. But I'm 36 00:01:53,720 --> 00:01:55,680 Speaker 1: really pumped. I am. I'm so pumped to be here. 37 00:01:55,840 --> 00:01:58,880 Speaker 1: When you rode your bike to work for specifically because 38 00:01:59,680 --> 00:02:03,200 Speaker 1: he just walk outside downstairs. The past fifteen years, I 39 00:02:03,280 --> 00:02:06,440 Speaker 1: have never worked at an off site office. I've always 40 00:02:06,560 --> 00:02:08,760 Speaker 1: I mean I've worked for myself, which means that I've 41 00:02:08,800 --> 00:02:11,200 Speaker 1: had a home office. The last few years, you know, 42 00:02:11,240 --> 00:02:13,160 Speaker 1: I've been working out of the basement where we actually 43 00:02:13,240 --> 00:02:15,000 Speaker 1: kind of built out an office, but it was still 44 00:02:15,280 --> 00:02:17,760 Speaker 1: connected to my home. This is literally the first time 45 00:02:17,880 --> 00:02:20,840 Speaker 1: I have worked off site, not at home, at a 46 00:02:20,880 --> 00:02:25,440 Speaker 1: different office in fifteen years. It feels amazing because truly, 47 00:02:25,800 --> 00:02:29,240 Speaker 1: like I really am looking forward to the rhythms of 48 00:02:29,280 --> 00:02:31,400 Speaker 1: being able to hop them on bike and cover some distance, 49 00:02:31,480 --> 00:02:34,919 Speaker 1: go somewhere else work and then return home and I 50 00:02:34,960 --> 00:02:37,000 Speaker 1: don't know, just to be able to kind of mentally reset. 51 00:02:37,720 --> 00:02:42,000 Speaker 1: There's something about that. There's really something about the really 52 00:02:42,080 --> 00:02:45,600 Speaker 1: hopefully short commute that actually, um, I think from a 53 00:02:45,600 --> 00:02:48,280 Speaker 1: certain standpoint, actually gets you prepared for work and gives 54 00:02:48,280 --> 00:02:51,799 Speaker 1: you that kind of that breathing room clears the mind. Yeah. Yeah, 55 00:02:51,800 --> 00:02:54,359 Speaker 1: And I've actually I've been communing with the car by 56 00:02:54,360 --> 00:02:56,800 Speaker 1: the way for just a few days because you know, 57 00:02:56,840 --> 00:03:00,720 Speaker 1: our move happens tomorrow, which is exciting, but so I 58 00:03:00,800 --> 00:03:02,800 Speaker 1: don't recommend it. Um, It's one of those things where 59 00:03:02,840 --> 00:03:05,160 Speaker 1: I'm really glad that I'm going to be also biking 60 00:03:05,160 --> 00:03:07,720 Speaker 1: into this office shortly, because pretty soon it's gonna be 61 00:03:07,760 --> 00:03:10,040 Speaker 1: both of us man car commutes. The only good thing 62 00:03:10,040 --> 00:03:12,240 Speaker 1: about them is I've been able to listen to more podcasts. 63 00:03:12,280 --> 00:03:15,200 Speaker 1: That's like literally the only thing like subscribing. And you're 64 00:03:15,240 --> 00:03:17,560 Speaker 1: just like, I've got all the side exactly as you're driving, 65 00:03:17,600 --> 00:03:20,240 Speaker 1: like I mean with traffic. I bet it's close to 66 00:03:20,280 --> 00:03:23,480 Speaker 1: an hour yea, Candy. So yeah, we are all set 67 00:03:23,560 --> 00:03:25,480 Speaker 1: up here though, but we wanted to share with folks 68 00:03:25,480 --> 00:03:28,320 Speaker 1: that this is the first episode and if you don't 69 00:03:28,360 --> 00:03:30,480 Speaker 1: follow us on Instagram, you should go do that at 70 00:03:30,480 --> 00:03:32,920 Speaker 1: how the Money Pod because Matt has been posting a 71 00:03:32,919 --> 00:03:35,880 Speaker 1: few kind of behind the scenes office set up stuff 72 00:03:35,880 --> 00:03:38,760 Speaker 1: and we'll feel it looks like posting more shananigans from 73 00:03:38,840 --> 00:03:41,520 Speaker 1: our new set up in neighborhood in the near future. 74 00:03:41,840 --> 00:03:44,160 Speaker 1: So um yeah, we'd love to keep in touch with 75 00:03:44,200 --> 00:03:45,960 Speaker 1: you there. But Matt, let's move on to the Friday 76 00:03:45,960 --> 00:03:48,400 Speaker 1: flight sampling of stories we found interesting this week and 77 00:03:48,400 --> 00:03:51,480 Speaker 1: how they pertain to people's personal finances. And let's start 78 00:03:51,480 --> 00:03:55,360 Speaker 1: by talking taxes. Everyone's favorite subjects the specifically the i 79 00:03:55,480 --> 00:03:58,960 Speaker 1: R S h one's favorite government agency exactly. The I 80 00:03:59,080 --> 00:04:02,920 Speaker 1: r S still has a backlog of unprocessed returns, twenty 81 00:04:02,960 --> 00:04:05,280 Speaker 1: one million of them to be exact. Although the i 82 00:04:05,360 --> 00:04:07,480 Speaker 1: r S quibbles and says, yeah, it's less than twenty 83 00:04:07,520 --> 00:04:09,880 Speaker 1: million now, and it's like, okay, so like as of 84 00:04:09,920 --> 00:04:12,880 Speaker 1: a couple of weeks ago we got it's like congratulations. 85 00:04:13,120 --> 00:04:15,000 Speaker 1: It's still a lot of people who are waiting on money. 86 00:04:15,280 --> 00:04:17,240 Speaker 1: But it's like somebody who wins the lottery and you're like, 87 00:04:17,320 --> 00:04:19,080 Speaker 1: oh my gosh, dude, you went twenty one and they're like, 88 00:04:19,080 --> 00:04:23,040 Speaker 1: actually it was it was. You're like, shut up, it's 89 00:04:23,040 --> 00:04:25,559 Speaker 1: still way too much. Yeah, let's not talk about numbers. 90 00:04:25,560 --> 00:04:27,719 Speaker 1: And then we're talking about numbers to that extent. And 91 00:04:27,839 --> 00:04:29,480 Speaker 1: I don't know if it's comforting or not for people 92 00:04:29,520 --> 00:04:31,680 Speaker 1: to realize maybe that if they haven't gotten their refund, 93 00:04:31,960 --> 00:04:33,480 Speaker 1: they are not alone, Like there's a lot of other 94 00:04:33,480 --> 00:04:37,520 Speaker 1: people in that same situation exactly. Are all in the 95 00:04:37,560 --> 00:04:41,240 Speaker 1: same crappy position. But yeah, if you filed a paper return, 96 00:04:41,720 --> 00:04:43,960 Speaker 1: we don't necessarily have good news for you because those 97 00:04:43,960 --> 00:04:47,080 Speaker 1: backups are taking longer to resolve. But here's the thing. 98 00:04:47,160 --> 00:04:48,960 Speaker 1: Don't try calling the I R S to check in 99 00:04:48,960 --> 00:04:52,640 Speaker 1: on the status of your refund. That's gonna lead to hours, 100 00:04:52,720 --> 00:04:56,120 Speaker 1: potentially days, maybe weeks of wasted time because there's such 101 00:04:56,160 --> 00:04:58,800 Speaker 1: a backlog, and even answering or returning phone calls. So 102 00:04:59,160 --> 00:05:01,480 Speaker 1: instead we would said us checking the where's my refund 103 00:05:01,520 --> 00:05:03,400 Speaker 1: tool that the I r S has wi a link 104 00:05:03,480 --> 00:05:05,000 Speaker 1: to that in the show notes. But you kind of 105 00:05:05,160 --> 00:05:08,000 Speaker 1: type in a couple of personal items and they will 106 00:05:08,279 --> 00:05:10,080 Speaker 1: give you an update on kind of where things stand. 107 00:05:10,400 --> 00:05:13,000 Speaker 1: Other than that, there's just no way, sadly, to really 108 00:05:13,080 --> 00:05:16,120 Speaker 1: speed that up. That's right. Yeah, Actually, so speaking of returns, uh, 109 00:05:16,200 --> 00:05:18,680 Speaker 1: let's shift gears here. It turns out that stores are 110 00:05:18,800 --> 00:05:23,159 Speaker 1: paying folks to not return items that they've bought. There's Yeah, 111 00:05:23,160 --> 00:05:26,039 Speaker 1: there's an article in CNN and they discussed how more 112 00:05:26,080 --> 00:05:30,279 Speaker 1: retailers are considering giving full refunds but not actually asking 113 00:05:30,400 --> 00:05:33,960 Speaker 1: for the item back whatever it is that you purchased. 114 00:05:34,279 --> 00:05:37,360 Speaker 1: Amazon they've done this with specific items for years, and 115 00:05:37,640 --> 00:05:39,320 Speaker 1: you know, like every once in a while, depending on 116 00:05:39,400 --> 00:05:41,880 Speaker 1: the item, depending on like the price and the cost 117 00:05:42,000 --> 00:05:45,520 Speaker 1: of shipping specifically, like Amazon will give you your money 118 00:05:45,520 --> 00:05:48,880 Speaker 1: back without requiring you to send the product back. And 119 00:05:48,920 --> 00:05:52,040 Speaker 1: that's because returns can be a costly annoyance to these 120 00:05:52,040 --> 00:05:56,720 Speaker 1: different companies, and more companies are considering adopting similar returnless 121 00:05:56,720 --> 00:06:01,320 Speaker 1: return policies. And surprisingly many of these actual companies, uh, 122 00:06:01,360 --> 00:06:04,080 Speaker 1: they've got too much product on hand right now anyway, 123 00:06:04,480 --> 00:06:07,320 Speaker 1: so they don't even want their stuff back at all. Yeah, 124 00:06:07,360 --> 00:06:10,640 Speaker 1: that's right, and so and that's a weird conundrum because 125 00:06:10,680 --> 00:06:13,360 Speaker 1: we've been in this like era of supply chain disruptions 126 00:06:13,600 --> 00:06:16,920 Speaker 1: right where we have seen a lot of these companies 127 00:06:16,960 --> 00:06:19,440 Speaker 1: saying we don't have the product on hand that you need, 128 00:06:19,839 --> 00:06:22,640 Speaker 1: and it's kind of caused some of some of the 129 00:06:22,680 --> 00:06:24,640 Speaker 1: inflation that we've seen, and it's just had a major 130 00:06:24,680 --> 00:06:28,040 Speaker 1: impact on our society. But we're starting to see something 131 00:06:28,120 --> 00:06:32,440 Speaker 1: called the bowl whip effect, which actually means that things 132 00:06:32,480 --> 00:06:35,880 Speaker 1: are catching up and and actually have more than caught up. 133 00:06:36,120 --> 00:06:39,240 Speaker 1: So you might even be in luck if you're looking 134 00:06:39,240 --> 00:06:42,440 Speaker 1: for a deal on items like TVs, furniture, maybe some 135 00:06:42,480 --> 00:06:46,320 Speaker 1: of those other bigger ticket items, because yeah, rising retail 136 00:06:46,400 --> 00:06:50,000 Speaker 1: inventory is is a legitimate thing happening right now. So basically, yeah, 137 00:06:50,160 --> 00:06:53,760 Speaker 1: there was high demand and low supply during the heart 138 00:06:53,760 --> 00:06:56,960 Speaker 1: of the pandemic, but now manufacturing supply chains there, they're 139 00:06:57,000 --> 00:06:59,760 Speaker 1: becoming less of an issue pretty quickly, and there's just 140 00:07:00,080 --> 00:07:02,040 Speaker 1: less demand for some of those goods. Now, it's right 141 00:07:02,120 --> 00:07:05,159 Speaker 1: that everything costs more, and so, uh, the world has 142 00:07:05,240 --> 00:07:08,600 Speaker 1: kind of answered a new post pandemic era, and so 143 00:07:08,720 --> 00:07:10,920 Speaker 1: yet the bottom line is you might be able to 144 00:07:10,920 --> 00:07:14,080 Speaker 1: score some great deals at Target, best Buy, urban outfitters, 145 00:07:14,120 --> 00:07:16,400 Speaker 1: wherever you like to shop. Plenty of other places too, 146 00:07:16,600 --> 00:07:18,600 Speaker 1: and and this could be helpful on on this like 147 00:07:18,680 --> 00:07:20,800 Speaker 1: macro level to Matt When it comes to inflation, I 148 00:07:20,840 --> 00:07:23,920 Speaker 1: think seeing these retailers, I'm sure they don't like having 149 00:07:24,240 --> 00:07:27,320 Speaker 1: too much inventory. But when it comes to the rate 150 00:07:27,320 --> 00:07:30,040 Speaker 1: of inflation in general, as there's more stuff on hand 151 00:07:30,040 --> 00:07:32,400 Speaker 1: and then less demand for last stuff, prices aren't going 152 00:07:32,440 --> 00:07:34,120 Speaker 1: to continue going up at the same rate. So we 153 00:07:34,200 --> 00:07:38,440 Speaker 1: could be kind of uh past that apex of inflation. 154 00:07:38,640 --> 00:07:40,880 Speaker 1: And I hope that's the case. Yeah. Well, and it's 155 00:07:40,920 --> 00:07:43,920 Speaker 1: not that people are spending less money in general, because 156 00:07:44,000 --> 00:07:45,720 Speaker 1: folks are spending their money, they're just spending it on 157 00:07:45,800 --> 00:07:47,760 Speaker 1: different things, right, Like folks are spending more money now 158 00:07:47,800 --> 00:07:51,360 Speaker 1: and travel in other areas. So hopefully, yeah, we won't 159 00:07:51,400 --> 00:07:53,840 Speaker 1: see the prices continue to inflate into increase when it 160 00:07:53,880 --> 00:07:57,760 Speaker 1: comes to things uh like televisions, but even but even 161 00:07:57,760 --> 00:08:00,320 Speaker 1: like when you talk about travel and gas, those are 162 00:08:00,360 --> 00:08:03,760 Speaker 1: two things that are often time specific, and summer is 163 00:08:03,760 --> 00:08:05,720 Speaker 1: the most expensive time for both those things. Anyway, so 164 00:08:05,760 --> 00:08:07,680 Speaker 1: as we move into the fall, just kind of that 165 00:08:08,040 --> 00:08:10,800 Speaker 1: natural propensity to travel less drive less is going to 166 00:08:10,880 --> 00:08:13,640 Speaker 1: kick in, resulting hopefully, and you're already looking to the fall. 167 00:08:13,760 --> 00:08:17,000 Speaker 1: It's like barely some of the had right here. Uh, 168 00:08:17,080 --> 00:08:20,080 Speaker 1: let's get me even. There was this interesting story over 169 00:08:20,120 --> 00:08:24,320 Speaker 1: in Refinery twenty nine about imposter syndrome and specifically how 170 00:08:24,320 --> 00:08:26,560 Speaker 1: it's costing us money. Man, Like, I feel like most 171 00:08:26,560 --> 00:08:28,400 Speaker 1: folks have heard of this this concept by now, But 172 00:08:28,480 --> 00:08:31,120 Speaker 1: it's basically, when you don't believe yourself to be as 173 00:08:31,120 --> 00:08:34,240 Speaker 1: competent and as skilled as you actually are. You can 174 00:08:34,360 --> 00:08:36,280 Speaker 1: see how that might be a problem when it comes 175 00:08:36,320 --> 00:08:39,160 Speaker 1: to getting paid what you're worth as well. Right, and 176 00:08:39,240 --> 00:08:41,120 Speaker 1: so yeah, if you don't think you're worth a whole lot, 177 00:08:41,400 --> 00:08:44,559 Speaker 1: you're gonna have a hard time asking for a raise. Uh. 178 00:08:44,600 --> 00:08:46,800 Speaker 1: If if you feel like you're just lucky enough to 179 00:08:46,800 --> 00:08:50,040 Speaker 1: have a job, then your ability and your desire to 180 00:08:50,120 --> 00:08:52,040 Speaker 1: ask for a solid page jump is it's likely going 181 00:08:52,080 --> 00:08:54,640 Speaker 1: to be greatly diminished. But here's the thing, imposter syndrome 182 00:08:54,760 --> 00:08:56,280 Speaker 1: is a real thing. We're not going to say that 183 00:08:56,280 --> 00:08:58,600 Speaker 1: it doesn't exist. We I think we all feel it 184 00:08:59,040 --> 00:09:00,839 Speaker 1: to some extent. I think when we when we started 185 00:09:00,840 --> 00:09:02,680 Speaker 1: the show, when we started the podcast, we felt it 186 00:09:02,720 --> 00:09:04,719 Speaker 1: in a pretty big way. We still feel it now 187 00:09:04,800 --> 00:09:08,040 Speaker 1: sometimes even like setting up this office, it's like, oh, man, 188 00:09:08,400 --> 00:09:10,720 Speaker 1: are we actually big boys now or are we just 189 00:09:10,720 --> 00:09:17,640 Speaker 1: pretending to be big boys? That's right? Um, And to 190 00:09:17,679 --> 00:09:20,000 Speaker 1: an extent, I think it creates a drive in us 191 00:09:20,080 --> 00:09:22,760 Speaker 1: to create something better and it kind of calls us 192 00:09:22,840 --> 00:09:25,840 Speaker 1: up into this like a higher level of of of creation. 193 00:09:26,200 --> 00:09:28,439 Speaker 1: And I think that part of imposter syndrome can be 194 00:09:28,480 --> 00:09:31,240 Speaker 1: a good thing. But we do not want this concept, 195 00:09:31,320 --> 00:09:34,920 Speaker 1: this idea, this phenomena to keep you from being able 196 00:09:35,000 --> 00:09:36,520 Speaker 1: to get a raise. We don't want it to bog 197 00:09:36,559 --> 00:09:38,720 Speaker 1: you down to the point to where you're unable to 198 00:09:38,720 --> 00:09:42,719 Speaker 1: get paid appropriately for whatever it is that you do. Uh. 199 00:09:42,720 --> 00:09:44,560 Speaker 1: In another interesting part too of the article where it 200 00:09:44,559 --> 00:09:46,960 Speaker 1: was talking about how this can have an impact not 201 00:09:47,000 --> 00:09:49,080 Speaker 1: just on what you're earning, but just on your personal 202 00:09:49,120 --> 00:09:53,200 Speaker 1: finances in general, where you feel completely overwhelmed, You don't 203 00:09:53,240 --> 00:09:55,720 Speaker 1: feel like you are like that you have the capacity 204 00:09:55,760 --> 00:09:57,880 Speaker 1: to take on your personal finances, and so because of that, 205 00:09:58,000 --> 00:10:00,720 Speaker 1: sometimes you might stick your head in the sand. But 206 00:10:01,440 --> 00:10:05,520 Speaker 1: those problems still exist. There are still bills you have 207 00:10:05,559 --> 00:10:08,200 Speaker 1: to pay rates, you have to negotiate investing your money, 208 00:10:08,240 --> 00:10:09,880 Speaker 1: figuring out how it is that you're gonna do that. 209 00:10:10,280 --> 00:10:12,640 Speaker 1: And so it's worth pointing out that this is aligns 210 00:10:13,559 --> 00:10:15,400 Speaker 1: with the mission of our show, which is to make 211 00:10:15,440 --> 00:10:18,720 Speaker 1: sure that folks feel empowered to where they feel that 212 00:10:18,760 --> 00:10:20,959 Speaker 1: they are not pretending to be grown ups, but that 213 00:10:21,080 --> 00:10:23,079 Speaker 1: you are in fact the grown up and you are 214 00:10:23,160 --> 00:10:25,720 Speaker 1: making the right and wise decisions with your money. And 215 00:10:25,720 --> 00:10:28,839 Speaker 1: sometimes yeah, it's it's encouragement that that's needed. Sometimes it's 216 00:10:28,880 --> 00:10:32,400 Speaker 1: information that's needed. We we aim to provide both, right 217 00:10:32,679 --> 00:10:34,360 Speaker 1: and and I want to say too that there's a 218 00:10:34,360 --> 00:10:37,640 Speaker 1: massive difference between a proper understanding of your skills and 219 00:10:37,679 --> 00:10:41,000 Speaker 1: a belief in your abilities and then cockiness. Right, those 220 00:10:41,000 --> 00:10:43,600 Speaker 1: are those are two different things because I think, um, 221 00:10:43,760 --> 00:10:46,199 Speaker 1: maybe sometimes people are like, well, imposter syndrome. Well, the 222 00:10:46,240 --> 00:10:48,959 Speaker 1: opposite of that is cockiness. But there's a middle ground here, 223 00:10:49,120 --> 00:10:51,800 Speaker 1: you know where um and and again it's a normal 224 00:10:51,960 --> 00:10:55,200 Speaker 1: human feeling, um that you and I feel too at 225 00:10:55,240 --> 00:10:56,880 Speaker 1: times where it's like why why do they want us 226 00:10:56,880 --> 00:10:59,200 Speaker 1: to speak on that? There are more qualified people, But 227 00:10:59,520 --> 00:11:03,200 Speaker 1: still it doesn't mean that we we can't and shouldn't 228 00:11:03,200 --> 00:11:06,160 Speaker 1: be working towards You know, I would almost argue that 229 00:11:06,200 --> 00:11:09,600 Speaker 1: are there anymore qualified folks in US? Is that voter? Rely? 230 00:11:09,720 --> 00:11:12,640 Speaker 1: And you know, because I think there are people that 231 00:11:12,679 --> 00:11:14,760 Speaker 1: are that are brilliant in in some man they spaces, 232 00:11:14,840 --> 00:11:16,920 Speaker 1: like when we talk about buying cars or something like that. 233 00:11:16,960 --> 00:11:18,440 Speaker 1: It's something we have a lot of thoughts on. But 234 00:11:18,480 --> 00:11:21,040 Speaker 1: there are also people who work in that industry all day, 235 00:11:21,040 --> 00:11:23,320 Speaker 1: every day, right, and they have more information, more knowledge 236 00:11:23,320 --> 00:11:25,520 Speaker 1: than us. But you know, we're doing our best. Um. 237 00:11:25,679 --> 00:11:27,719 Speaker 1: But yeah, on the note of getting paid what you're worth, Matt, 238 00:11:27,760 --> 00:11:30,480 Speaker 1: let's talk about negotiation just for a second, because the 239 00:11:30,880 --> 00:11:33,640 Speaker 1: current inflation phenomenon has made that really more important than 240 00:11:33,640 --> 00:11:37,360 Speaker 1: ever before, or at least in the past forty years. Right. 241 00:11:37,480 --> 00:11:39,679 Speaker 1: And the reality is that you're you're actually not getting 242 00:11:39,679 --> 00:11:42,560 Speaker 1: a pay raise. Uh when when you're getting a pay 243 00:11:42,559 --> 00:11:47,280 Speaker 1: bump of less than ten percent because everything costs more. So, yeah, 244 00:11:47,320 --> 00:11:48,880 Speaker 1: if you get a five percent pay raise, you're getting 245 00:11:48,920 --> 00:11:51,199 Speaker 1: paid less than you were getting paid just you just 246 00:11:51,240 --> 00:11:54,000 Speaker 1: took a three point six decrease. How do you feel 247 00:11:54,000 --> 00:11:56,480 Speaker 1: about that? Not fun? Well? Yeah, and when it comes 248 00:11:56,520 --> 00:11:59,319 Speaker 1: to having that conversation conversation with your boss, it's important 249 00:11:59,360 --> 00:12:01,480 Speaker 1: we would say to be prepared, right, have a few 250 00:12:01,520 --> 00:12:03,960 Speaker 1: bullet points that you want to cover in that conversation, 251 00:12:04,080 --> 00:12:06,840 Speaker 1: and inflation should be one of those, but it shouldn't 252 00:12:06,840 --> 00:12:09,680 Speaker 1: be the only one um we want when when it 253 00:12:09,679 --> 00:12:11,760 Speaker 1: comes to that conversation, there are a lot of other 254 00:12:11,800 --> 00:12:13,439 Speaker 1: There's a lot more ground you want to cover, and 255 00:12:14,000 --> 00:12:16,680 Speaker 1: it's important to note that that ultimatums are rarely the 256 00:12:16,720 --> 00:12:19,200 Speaker 1: best way to move forward. Like give me that twenty 257 00:12:19,240 --> 00:12:21,959 Speaker 1: percent pay raise or I'm out, um, That's not usually 258 00:12:22,320 --> 00:12:24,200 Speaker 1: a good way to go forward. So finding like a 259 00:12:24,240 --> 00:12:27,000 Speaker 1: win win scenario, something that's good for your employer, good 260 00:12:27,040 --> 00:12:29,280 Speaker 1: for your boss, and good for you is an important 261 00:12:29,280 --> 00:12:31,400 Speaker 1: thing to hone in on and be sure to arm 262 00:12:31,440 --> 00:12:34,720 Speaker 1: yourself with information before you go into that discussion, and 263 00:12:34,760 --> 00:12:37,120 Speaker 1: that probably means looking at sites like glass door and 264 00:12:37,160 --> 00:12:40,240 Speaker 1: pay scale to see what other people in similar positions 265 00:12:40,240 --> 00:12:42,840 Speaker 1: are getting paid, and and more than that, pointing to 266 00:12:43,080 --> 00:12:46,280 Speaker 1: your prior results and future projects that you plan on 267 00:12:46,480 --> 00:12:49,720 Speaker 1: working on at at this company. Are are there important 268 00:12:49,760 --> 00:12:52,680 Speaker 1: part of the equation too. So you know, imposter syndrome, 269 00:12:52,720 --> 00:12:54,720 Speaker 1: like we said, has this element of human nature to it, 270 00:12:54,720 --> 00:12:57,719 Speaker 1: but don't don't let that mess with your need and 271 00:12:57,760 --> 00:13:01,720 Speaker 1: your ability to ask for more money when it's semerited. 272 00:13:02,160 --> 00:13:04,240 Speaker 1: That's right, Yeah, and so on that note, Actually, we 273 00:13:04,280 --> 00:13:08,600 Speaker 1: saw that more employers are making salaries more transparent when 274 00:13:08,640 --> 00:13:12,000 Speaker 1: they post a job listing. Microsoft they are the biggest 275 00:13:12,000 --> 00:13:14,120 Speaker 1: employer to do this, and mostly this is in order 276 00:13:14,160 --> 00:13:18,400 Speaker 1: to comply with Washington's new law. But linked in they 277 00:13:18,440 --> 00:13:22,800 Speaker 1: say that they are seeing salary data on listings now, 278 00:13:23,200 --> 00:13:26,400 Speaker 1: and so that's really helpful if you're specifically looking for 279 00:13:26,440 --> 00:13:29,200 Speaker 1: a new job. Yeah, I mean, it's always amazing to 280 00:13:29,240 --> 00:13:31,800 Speaker 1: me that people are like, this job sounds great, but 281 00:13:31,800 --> 00:13:33,480 Speaker 1: I have no idea what it pays, and I'm gonna 282 00:13:33,480 --> 00:13:35,000 Speaker 1: I'm gonna apply for it, and so it is good 283 00:13:35,080 --> 00:13:38,880 Speaker 1: to see I think employers listing them more readily, even 284 00:13:39,040 --> 00:13:41,720 Speaker 1: if they don't have to, because what an annoying thing 285 00:13:41,800 --> 00:13:45,480 Speaker 1: to go through some process for, you know, to submitting 286 00:13:45,520 --> 00:13:48,920 Speaker 1: your resume and getting your hopes up when the salary 287 00:13:49,040 --> 00:13:50,960 Speaker 1: isn't even close to what you're you're hoping or needing. 288 00:13:51,000 --> 00:13:52,920 Speaker 1: And then they're not even being required to list out 289 00:13:52,960 --> 00:13:56,120 Speaker 1: actual salaries but just salary ranges. And so I think 290 00:13:56,160 --> 00:13:58,679 Speaker 1: a range can be really helpful, even if it's incredibly wide, 291 00:13:58,679 --> 00:14:01,160 Speaker 1: depending on you know, if it can be a similar position, 292 00:14:01,240 --> 00:14:04,199 Speaker 1: but there's a big difference between somebody with one and 293 00:14:04,200 --> 00:14:06,520 Speaker 1: a half years worth of experience and somebody with ten 294 00:14:06,559 --> 00:14:09,320 Speaker 1: plus years of experience. There can be a wide range. 295 00:14:09,520 --> 00:14:11,280 Speaker 1: But even still, I think that can help because it 296 00:14:11,360 --> 00:14:14,720 Speaker 1: can help somebody like in particular, somebody that has maybe 297 00:14:14,760 --> 00:14:17,920 Speaker 1: a lot of experience to see cool. They understand that 298 00:14:17,960 --> 00:14:20,120 Speaker 1: if I come in here, that I would probably be 299 00:14:20,160 --> 00:14:22,920 Speaker 1: able to command that the higher end of that spectrum. 300 00:14:23,120 --> 00:14:25,120 Speaker 1: But you know, while we're talking about work, let's touch 301 00:14:25,200 --> 00:14:28,040 Speaker 1: on gig work for a second, because a recent survey 302 00:14:28,120 --> 00:14:31,880 Speaker 1: from ensure Ranks shows that forty percent of folks say 303 00:14:31,960 --> 00:14:35,320 Speaker 1: they need a side hustle to make ends meet. And 304 00:14:35,480 --> 00:14:37,960 Speaker 1: we were bringing this up because we've talked about the 305 00:14:38,000 --> 00:14:41,400 Speaker 1: insidious nature of gig work before. We talked about that 306 00:14:41,440 --> 00:14:45,040 Speaker 1: back in episode four nineteen. And there are, of course, 307 00:14:45,320 --> 00:14:47,840 Speaker 1: you know, more gig jobs available now than ever before. 308 00:14:48,480 --> 00:14:51,680 Speaker 1: But we believe that taking on a side hustle like 309 00:14:51,720 --> 00:14:54,400 Speaker 1: that can be the quickest method to earn some extra cash. 310 00:14:54,640 --> 00:14:56,720 Speaker 1: It's really going to be the most lucrative, it's it's 311 00:14:56,720 --> 00:14:59,360 Speaker 1: not necessarily going to be the best option for you. Instead, 312 00:14:59,520 --> 00:15:01,200 Speaker 1: we would p for a few to increase your income 313 00:15:01,240 --> 00:15:03,160 Speaker 1: by asking for a raise like we just talked about, 314 00:15:03,600 --> 00:15:06,040 Speaker 1: or by starting your own business by hanging your own shingle, 315 00:15:06,400 --> 00:15:09,280 Speaker 1: or even by getting a degree or certificate within an 316 00:15:09,280 --> 00:15:12,080 Speaker 1: industry where pay rates are going to be higher. We 317 00:15:12,120 --> 00:15:14,240 Speaker 1: believe that that gig work for most folks, it should 318 00:15:14,240 --> 00:15:16,160 Speaker 1: be seen as sort of a way to make a 319 00:15:16,200 --> 00:15:20,040 Speaker 1: little side money quickly. But always remember that the advancement 320 00:15:20,120 --> 00:15:23,880 Speaker 1: opportunities are gonna almost always be non existent in most 321 00:15:23,960 --> 00:15:26,720 Speaker 1: gig work jobs. Oftentimes gig work it makes me think 322 00:15:26,800 --> 00:15:31,440 Speaker 1: Joel of blue tarps. Uh. Specific let me let me 323 00:15:31,520 --> 00:15:33,760 Speaker 1: lay this out for you specifically. You know, we've been 324 00:15:33,800 --> 00:15:36,480 Speaker 1: experiencing some thunderstorms and imagine like a hurricane that comes 325 00:15:36,480 --> 00:15:38,160 Speaker 1: through or just a big storm. A lot of times 326 00:15:38,160 --> 00:15:41,280 Speaker 1: it takes down trees, takes on branches. You know where 327 00:15:41,280 --> 00:15:43,320 Speaker 1: I'm going with this. It'll punch a hole in your roof, right, 328 00:15:43,320 --> 00:15:46,200 Speaker 1: and so you've got this this problem in the fastest 329 00:15:46,240 --> 00:15:48,840 Speaker 1: way to keep that rain water out of your house 330 00:15:49,400 --> 00:15:51,200 Speaker 1: is you throw a tarp up on your roof. That's 331 00:15:51,240 --> 00:15:54,040 Speaker 1: something that you can do really quickly for with very 332 00:15:54,120 --> 00:15:56,800 Speaker 1: little effort, or you know, another company will show up 333 00:15:56,800 --> 00:15:58,720 Speaker 1: and do that, and all of a sudden, the rain 334 00:15:58,800 --> 00:16:01,360 Speaker 1: is no longer causing damage to your house. But here's 335 00:16:01,360 --> 00:16:04,000 Speaker 1: the thing. You don't just kick back and say, ah, 336 00:16:04,080 --> 00:16:07,400 Speaker 1: the roof is fixed. This is a short term solution. 337 00:16:07,480 --> 00:16:10,560 Speaker 1: This is something that is keeping you from causing more damage. 338 00:16:10,560 --> 00:16:12,120 Speaker 1: But you're not just resting on your laurels thinking that 339 00:16:12,160 --> 00:16:16,120 Speaker 1: everything's fine. You're gonna immediately seek to Okay, am I 340 00:16:16,120 --> 00:16:19,040 Speaker 1: going to file an insurance claim. Basically, you're looking for 341 00:16:19,200 --> 00:16:21,800 Speaker 1: ways that you can permanently fix that roof. You're looking 342 00:16:21,840 --> 00:16:24,720 Speaker 1: for longer term solutions. And that's I think how we 343 00:16:24,720 --> 00:16:28,280 Speaker 1: should oftentimes think about gig work. They are blue tarps. 344 00:16:28,440 --> 00:16:32,160 Speaker 1: They are a way to immediately, very quickly and easily 345 00:16:32,240 --> 00:16:34,360 Speaker 1: generate some more income, but it isn't something that we 346 00:16:34,360 --> 00:16:37,680 Speaker 1: should count on for the long term. I agree. I agree, 347 00:16:37,680 --> 00:16:39,520 Speaker 1: And it is one of those things where to see 348 00:16:39,520 --> 00:16:43,160 Speaker 1: more people relying on it as a necessity to be 349 00:16:43,200 --> 00:16:44,920 Speaker 1: able to pay their bills, like, that's frightening to me, 350 00:16:45,240 --> 00:16:48,160 Speaker 1: and so we need to encourage people to Yeah, gig 351 00:16:48,160 --> 00:16:51,440 Speaker 1: work can be that temporary relief for like, um, a 352 00:16:51,520 --> 00:16:54,880 Speaker 1: financial situation that you're trying to dig your dig out of. 353 00:16:55,120 --> 00:16:57,840 Speaker 1: Really quickly. But it's not a good long term situation 354 00:16:58,360 --> 00:17:02,080 Speaker 1: for almost anybody, and so most people should be working 355 00:17:02,120 --> 00:17:04,240 Speaker 1: to make more money in other ways. Totally agree. But 356 00:17:04,280 --> 00:17:05,879 Speaker 1: we've got more stories to get to, Matt. We got 357 00:17:05,960 --> 00:17:08,879 Speaker 1: to talk about the housing market and how the and 358 00:17:09,040 --> 00:17:13,240 Speaker 1: how the rate increases actually leading to more problems for renters. 359 00:17:13,320 --> 00:17:19,359 Speaker 1: We'll talk about that and more right after this break. 360 00:17:25,160 --> 00:17:26,880 Speaker 1: Al Right, we are back from the break and Jel, 361 00:17:26,920 --> 00:17:29,480 Speaker 1: like you said, we will get to that real estate 362 00:17:29,600 --> 00:17:33,040 Speaker 1: housing markets, uh interest rate story here in a second, 363 00:17:33,080 --> 00:17:35,560 Speaker 1: but first let's get to our ludicrous headline of the week. 364 00:17:35,640 --> 00:17:39,639 Speaker 1: This is from Bloomberg and the headline reads, gen Z 365 00:17:39,800 --> 00:17:43,120 Speaker 1: is making cash cool again. And uh, first of all, 366 00:17:43,320 --> 00:17:45,560 Speaker 1: like we love all of our Zoomer listeners out there, 367 00:17:45,640 --> 00:17:47,440 Speaker 1: y'all are the best. That just makes me think, though 368 00:17:47,560 --> 00:17:50,120 Speaker 1: that gen Z can make anything cool because they're making 369 00:17:50,160 --> 00:17:53,440 Speaker 1: mom jeans cool again. And you know, my wife comments 370 00:17:53,480 --> 00:17:55,440 Speaker 1: that it really it's only the young they can pull 371 00:17:55,440 --> 00:17:57,560 Speaker 1: those jeans off. No way, man, I think it's all 372 00:17:57,560 --> 00:18:00,520 Speaker 1: about your attitude because like I very like I remember 373 00:18:00,560 --> 00:18:02,320 Speaker 1: growing up. I feel like this is gonna be a 374 00:18:02,320 --> 00:18:04,359 Speaker 1: tangent like and I feel like this is going down territory. 375 00:18:04,359 --> 00:18:06,880 Speaker 1: I don't want to go I want to go down. 376 00:18:07,040 --> 00:18:08,680 Speaker 1: But I remember when, like low rise jeans were a 377 00:18:08,720 --> 00:18:10,920 Speaker 1: thing in high school, and I just remember thinking, yeah, 378 00:18:11,000 --> 00:18:13,920 Speaker 1: that's look really good, Like I like how my girlfriend 379 00:18:13,920 --> 00:18:16,639 Speaker 1: looks with those jeans on, not those highwaysted jeans. But 380 00:18:16,680 --> 00:18:19,000 Speaker 1: now that like I'm married and Kate's wearing the mom 381 00:18:19,119 --> 00:18:21,679 Speaker 1: jeans and I'm like, I'm into those, Like I like that, 382 00:18:22,000 --> 00:18:23,240 Speaker 1: So I think it. It It kind of comes down to 383 00:18:23,280 --> 00:18:26,960 Speaker 1: the attitude a little bit, all right, But we're not 384 00:18:27,000 --> 00:18:29,680 Speaker 1: trying to throw shade here to our gen Z listeners. 385 00:18:29,680 --> 00:18:32,159 Speaker 1: But with all the talk about everything going digital, the 386 00:18:32,200 --> 00:18:35,000 Speaker 1: advent of payment platforms like Venmo, like cash app, the 387 00:18:35,119 --> 00:18:38,800 Speaker 1: rise of online shopping, one of our immediate thoughts was like, like, 388 00:18:38,840 --> 00:18:42,840 Speaker 1: who uses cash anyway? Right? I almost never used cash. 389 00:18:43,080 --> 00:18:45,359 Speaker 1: I use cash more than I use checks, but not 390 00:18:45,480 --> 00:18:47,880 Speaker 1: much more. But yeah, it's it barely comes out of head. 391 00:18:47,880 --> 00:18:50,320 Speaker 1: They're like, I would not have believed this, but according 392 00:18:50,320 --> 00:18:53,840 Speaker 1: to the stats, gen Z actually likes paying with cash. 393 00:18:53,880 --> 00:18:57,080 Speaker 1: Evidently it's all the rage on TikTok and some have 394 00:18:57,119 --> 00:18:59,560 Speaker 1: said that paying with dollar bills that they have laying 395 00:18:59,560 --> 00:19:02,280 Speaker 1: around it I actually means to them that that item 396 00:19:02,480 --> 00:19:04,480 Speaker 1: that it's like it's basically free, Like it feels like 397 00:19:04,520 --> 00:19:07,320 Speaker 1: it's free to them. You know, they're not factoring cash 398 00:19:07,359 --> 00:19:09,919 Speaker 1: into their overall budget, which I totally get, but like 399 00:19:09,960 --> 00:19:12,719 Speaker 1: it also sounds like a potential recipe for maybe some 400 00:19:12,800 --> 00:19:16,040 Speaker 1: frivolous spending where they're not keeping up with what they 401 00:19:16,040 --> 00:19:18,480 Speaker 1: are spending their money on. But I will say, you know, 402 00:19:18,480 --> 00:19:21,439 Speaker 1: there is a meaningful bright side to using actual cash, 403 00:19:21,840 --> 00:19:24,000 Speaker 1: uh these real dollar bills, because one thing that's true 404 00:19:24,080 --> 00:19:26,520 Speaker 1: is that you can't spend money that you don't have. 405 00:19:26,920 --> 00:19:29,159 Speaker 1: When the money runs out, you ain't got anymore. That 406 00:19:29,320 --> 00:19:32,600 Speaker 1: is the biggest up side, right is that you yeah, 407 00:19:32,680 --> 00:19:35,080 Speaker 1: you can't go into debt if you're if you're only 408 00:19:35,119 --> 00:19:37,639 Speaker 1: spending cash. And although gen z like it seems like 409 00:19:37,640 --> 00:19:39,960 Speaker 1: they like cash more, obviously they're using other forms of 410 00:19:40,000 --> 00:19:41,960 Speaker 1: payment as well. Though there's like these different so I 411 00:19:41,960 --> 00:19:44,560 Speaker 1: mentioned the TikTok thing, there's these different trends where they're 412 00:19:44,560 --> 00:19:47,439 Speaker 1: stuffing bottles full of cash like spare cash, and then 413 00:19:47,440 --> 00:19:49,960 Speaker 1: they just like smash them open for for to spend 414 00:19:50,000 --> 00:19:51,800 Speaker 1: it on something. But another one of the trends which 415 00:19:51,800 --> 00:19:54,960 Speaker 1: was really fascinating was that they're using basically like the 416 00:19:55,000 --> 00:19:57,880 Speaker 1: cash envelope system. And I'm like, oh my gosh, it's 417 00:19:57,880 --> 00:20:00,480 Speaker 1: coming full circle. And it's almost like you've got an 418 00:20:00,560 --> 00:20:03,639 Speaker 1: entire generation that are about to become like Dave Ramsey 419 00:20:03,640 --> 00:20:06,160 Speaker 1: followers or something next are gonna go get their Nokia 420 00:20:06,200 --> 00:20:09,399 Speaker 1: brick phones and like get smartphones, which that actually is 421 00:20:09,440 --> 00:20:12,800 Speaker 1: probably a better way to go, but it'll likely lead 422 00:20:12,800 --> 00:20:14,840 Speaker 1: to a healthier society. Yeah, exactly, Like if we all 423 00:20:14,880 --> 00:20:16,560 Speaker 1: did our smartphones, we probably would better off in a 424 00:20:16,600 --> 00:20:19,280 Speaker 1: lot of ways. Although podcasts on your phone is nice, 425 00:20:19,720 --> 00:20:22,840 Speaker 1: but yeah, I think the thing with cash. It certainly 426 00:20:22,840 --> 00:20:24,840 Speaker 1: allows some folks to be more disciplined, you know, with 427 00:20:24,840 --> 00:20:26,760 Speaker 1: their money in order to ensure that they don't go 428 00:20:26,800 --> 00:20:29,080 Speaker 1: into debt. But it's also important to note that if 429 00:20:29,080 --> 00:20:31,120 Speaker 1: you have to pay with cash instead of paying with 430 00:20:31,240 --> 00:20:33,640 Speaker 1: a credit card, you're not gonna be racking up cash 431 00:20:33,680 --> 00:20:36,320 Speaker 1: back or chapel rewards. And those things add up in 432 00:20:36,320 --> 00:20:38,400 Speaker 1: a meaningful way, right, And and on top of that, 433 00:20:38,520 --> 00:20:42,160 Speaker 1: it's it's not just those primary rewards matters. The secondary 434 00:20:42,200 --> 00:20:45,080 Speaker 1: benefits the credit cards offer those can be significant too. 435 00:20:45,119 --> 00:20:47,480 Speaker 1: We actually talked about those in our how to Money 436 00:20:47,520 --> 00:20:51,600 Speaker 1: newsletter on Tuesday. In that in that edition, which you 437 00:20:51,600 --> 00:20:53,800 Speaker 1: should sign up for if you haven't yet. But yeah, 438 00:20:53,840 --> 00:20:57,199 Speaker 1: we're talking like things like purchase protection, extended warranties, rental 439 00:20:57,200 --> 00:20:59,919 Speaker 1: car insurance, and more, not to mention the fraud protection 440 00:21:00,000 --> 00:21:02,480 Speaker 1: it comes alongside using a credit card. Those are all 441 00:21:02,720 --> 00:21:06,639 Speaker 1: significant benefits. Using cash doesn't give you those things. And 442 00:21:06,680 --> 00:21:08,359 Speaker 1: so yeah, that that's one of the main reasons that 443 00:21:08,400 --> 00:21:11,560 Speaker 1: we prefer credit cards some method of payment. Cash is 444 00:21:11,600 --> 00:21:14,840 Speaker 1: still better than using a debit card, because yeah, debit 445 00:21:14,840 --> 00:21:17,000 Speaker 1: cards are not our faith and that's really because they 446 00:21:17,000 --> 00:21:19,679 Speaker 1: don't offer the same legal protections that credit cards do. 447 00:21:19,800 --> 00:21:22,520 Speaker 1: And so, like we always say, only used credit cards 448 00:21:22,640 --> 00:21:25,919 Speaker 1: if you can pay that bill on time and in full. 449 00:21:26,000 --> 00:21:29,399 Speaker 1: Otherwise cash is a better Yeah, it's a better means 450 00:21:29,880 --> 00:21:32,600 Speaker 1: of buying stuff than really anything else. Yeah, and I 451 00:21:32,640 --> 00:21:36,199 Speaker 1: will say too. So, uh, this past Wednesday, we had 452 00:21:36,200 --> 00:21:38,960 Speaker 1: our wives on We published published that episode right that 453 00:21:39,000 --> 00:21:41,800 Speaker 1: we recorded while we're at the beach, and we mentioned 454 00:21:41,880 --> 00:21:44,679 Speaker 1: that um paying for babysitters and like going out like 455 00:21:44,720 --> 00:21:47,720 Speaker 1: that's been our splurs lately. And they like cash, but 456 00:21:47,720 --> 00:21:49,439 Speaker 1: I don't know, they probably get cash appen stuff too, 457 00:21:49,480 --> 00:21:52,320 Speaker 1: what you would think. But so the youngest babysitter we have. 458 00:21:52,720 --> 00:21:54,560 Speaker 1: I think she's seventeen. I don't think she's eighteen yet. 459 00:21:54,920 --> 00:21:57,280 Speaker 1: She prefers cash like she always. She never wants to 460 00:21:57,359 --> 00:21:59,320 Speaker 1: be paid via the cash app for the money. She's 461 00:21:59,359 --> 00:22:02,560 Speaker 1: always asking to be paid in actual dollar bills. And so, 462 00:22:03,119 --> 00:22:06,320 Speaker 1: um my, my cash. Why that I've got in the 463 00:22:06,359 --> 00:22:09,480 Speaker 1: sock drawering it's starting to get low because I can't. 464 00:22:09,720 --> 00:22:12,440 Speaker 1: I literally cannot remember the last time I withdrew money 465 00:22:12,520 --> 00:22:14,280 Speaker 1: from an A T M or asked for cash back, 466 00:22:14,640 --> 00:22:16,080 Speaker 1: because I would have meant that I would have used 467 00:22:16,119 --> 00:22:17,320 Speaker 1: a debit card. I haven't done that, I think since 468 00:22:17,400 --> 00:22:20,040 Speaker 1: high school. But literally it's been that long, and I 469 00:22:20,119 --> 00:22:23,560 Speaker 1: just have just this random cash sitting around. This is 470 00:22:23,600 --> 00:22:27,960 Speaker 1: an anecdote of where I have myself, seeing an experienced 471 00:22:27,960 --> 00:22:31,439 Speaker 1: a zoomer who prefers the cash. That's funny because I'm like, no, 472 00:22:31,440 --> 00:22:33,440 Speaker 1: no, no no, pay me digitally all day every day. Yes, 473 00:22:33,480 --> 00:22:37,040 Speaker 1: I do not want to touch the dirty stuff exactly, 474 00:22:37,280 --> 00:22:40,199 Speaker 1: and not not because you know, I'm afraid of your 475 00:22:40,240 --> 00:22:43,280 Speaker 1: germs or anything like that. I am. I'm just like, 476 00:22:43,280 --> 00:22:44,720 Speaker 1: where am I gonna stuff it? I get this tiny 477 00:22:44,720 --> 00:22:47,479 Speaker 1: little wallet like ye dirty money, man. I don't want 478 00:22:47,480 --> 00:22:49,440 Speaker 1: to hang on to it, but it's been in people's 479 00:22:49,480 --> 00:22:52,800 Speaker 1: sweaty palm and who knows where else, right, Like, that's true. 480 00:22:53,040 --> 00:22:54,680 Speaker 1: I don't think about that really though, down in the sock. 481 00:22:54,800 --> 00:22:58,320 Speaker 1: My mind doesn't go there. But speaking of cash mat 482 00:22:58,320 --> 00:23:01,879 Speaker 1: the the Wall Street Journal recently reported that American households 483 00:23:02,000 --> 00:23:04,280 Speaker 1: they're keeping more money in the bank than ever before. 484 00:23:04,560 --> 00:23:08,160 Speaker 1: We have nearly eighteen trillion dollars in cash or cash 485 00:23:08,200 --> 00:23:11,480 Speaker 1: equivalent sitting in the bank as as a nation, which 486 00:23:11,520 --> 00:23:14,600 Speaker 1: is a significant increase over the twelve point eight trillion 487 00:23:14,920 --> 00:23:17,800 Speaker 1: that we had set aside before the pandemic began. And 488 00:23:17,840 --> 00:23:19,800 Speaker 1: so that's where you know, there is a lot of 489 00:23:19,880 --> 00:23:22,119 Speaker 1: pent up demand still, there's a lot of spending power 490 00:23:22,320 --> 00:23:25,720 Speaker 1: that's basically just like waiting for the chance to pounce. 491 00:23:25,720 --> 00:23:28,240 Speaker 1: And so what that means is that it's more important 492 00:23:28,240 --> 00:23:29,800 Speaker 1: than ever by the way, to make sure that you 493 00:23:29,880 --> 00:23:33,919 Speaker 1: have that money earning the best rate possible. And I 494 00:23:33,960 --> 00:23:36,960 Speaker 1: saw that a lot of the big names on online 495 00:23:36,960 --> 00:23:39,520 Speaker 1: banks are finally at that one percent level, like Discover, 496 00:23:39,640 --> 00:23:41,959 Speaker 1: ally Marcus have all hit that. But they're proud of it. 497 00:23:42,119 --> 00:23:44,280 Speaker 1: They are They're like, look at us, what we've done. 498 00:23:44,720 --> 00:23:46,520 Speaker 1: But when you when you think about how fast other 499 00:23:46,640 --> 00:23:50,040 Speaker 1: rates are rising. It seems insignificant, right You're like, you're 500 00:23:50,040 --> 00:23:52,359 Speaker 1: not keeping up with, you know, the general trend of 501 00:23:52,760 --> 00:23:55,919 Speaker 1: mortgage rates or other things that are costing more. But 502 00:23:56,440 --> 00:23:58,760 Speaker 1: C I T actually bumped their rate up from one 503 00:23:58,800 --> 00:24:01,600 Speaker 1: point two to one point three five, so they're significantly 504 00:24:01,880 --> 00:24:04,280 Speaker 1: higher than the others. And so, yeah, if you're one 505 00:24:04,320 --> 00:24:07,199 Speaker 1: of those people who finds himself with more cash on 506 00:24:07,280 --> 00:24:10,439 Speaker 1: hand and you want to keep it liquid, changing banks, 507 00:24:10,520 --> 00:24:12,280 Speaker 1: especially if you're one of the big banks, makes a 508 00:24:12,280 --> 00:24:14,320 Speaker 1: whole lot of sense right now. Absolutely. Yeah, we're big 509 00:24:14,359 --> 00:24:15,760 Speaker 1: fans of C I T and we'll make sure to 510 00:24:15,840 --> 00:24:18,520 Speaker 1: link to where you could open an account with them. 511 00:24:18,640 --> 00:24:21,400 Speaker 1: We want you earning the most money you can possible 512 00:24:21,400 --> 00:24:24,040 Speaker 1: on that cash, on that emergency fund, on that that 513 00:24:24,119 --> 00:24:26,879 Speaker 1: cushion that you've got sitting around. Uh, Joel, you know, 514 00:24:26,880 --> 00:24:29,560 Speaker 1: we've talked about rising interest rates on the podcast last week. 515 00:24:29,960 --> 00:24:32,840 Speaker 1: They've made buying a house much less affordable these days. 516 00:24:32,840 --> 00:24:35,680 Speaker 1: In fact, the so the typical HomeBuyer has lost a 517 00:24:35,760 --> 00:24:39,119 Speaker 1: hundred and sixty five thousand dollars in purchasing power since 518 00:24:39,200 --> 00:24:42,040 Speaker 1: the end of last year due to the increase in rates. 519 00:24:42,040 --> 00:24:44,600 Speaker 1: That's a big number when you think about three percent 520 00:24:44,760 --> 00:24:46,760 Speaker 1: hike in rates and you're like, yeah, okay, that sounds 521 00:24:46,800 --> 00:24:49,040 Speaker 1: like a meaningful number. But when you translate that to 522 00:24:49,480 --> 00:24:51,680 Speaker 1: how much less of a house you will purchase price, 523 00:24:51,840 --> 00:24:54,840 Speaker 1: it really thinks it is. It's substantial. Yeah, absolutely, And 524 00:24:55,080 --> 00:24:58,359 Speaker 1: this means that, uh, it's kind of derailed the plans 525 00:24:58,359 --> 00:25:01,080 Speaker 1: of a lot of Americans when it comes to I'm buying. Uh. 526 00:25:01,119 --> 00:25:03,400 Speaker 1: And it's meant that a lot of folks are being 527 00:25:03,440 --> 00:25:06,520 Speaker 1: forced to keep renting. We'll actually we'll talk about that 528 00:25:06,600 --> 00:25:08,880 Speaker 1: here in a second, but like others are taking out 529 00:25:08,920 --> 00:25:12,800 Speaker 1: adjustable rate mortgages in order to snag a slightly lower rate, 530 00:25:13,080 --> 00:25:16,639 Speaker 1: which lessons the blow of those interest rate spikes that 531 00:25:16,760 --> 00:25:18,640 Speaker 1: a lot of folks are experiencing right now. And and 532 00:25:18,880 --> 00:25:20,679 Speaker 1: I think, Matt, you and I we've maybe kind of 533 00:25:20,800 --> 00:25:25,200 Speaker 1: changed our tune a little bit recently on adjustable rate mortgages. UM. 534 00:25:25,280 --> 00:25:28,160 Speaker 1: And that's one of those things that we have normally 535 00:25:28,240 --> 00:25:31,359 Speaker 1: suggested that people take out a thirty year fixed rate 536 00:25:31,359 --> 00:25:34,040 Speaker 1: mortgage or a fifteen year fixed rate mortgage and lock 537 00:25:34,119 --> 00:25:36,720 Speaker 1: it in, especially as rates were incredibly low right when 538 00:25:36,880 --> 00:25:39,000 Speaker 1: when rates were in the upper two's on a thirty 539 00:25:39,040 --> 00:25:41,800 Speaker 1: year fixed mortgage. We were like, this is this is 540 00:25:41,840 --> 00:25:43,679 Speaker 1: pretty this is like a bird in the hand, like 541 00:25:43,720 --> 00:25:45,480 Speaker 1: you don't want to let this one go, lock it in. 542 00:25:45,880 --> 00:25:48,640 Speaker 1: But adjustable rate mortgages are able to at this point 543 00:25:48,680 --> 00:25:51,560 Speaker 1: in time save people sometimes quite a bit um on 544 00:25:51,640 --> 00:25:53,760 Speaker 1: a home purchase. Uh, and when it comes to that 545 00:25:53,800 --> 00:25:56,639 Speaker 1: monthly payment. And so yeah, I just took out actually 546 00:25:56,680 --> 00:25:59,439 Speaker 1: my first ever adjustable rate mortgage on the house we 547 00:25:59,520 --> 00:26:01,040 Speaker 1: just bought all the place that you're about to move 548 00:26:01,040 --> 00:26:03,399 Speaker 1: into tomorrow. It's right, it's a ten one arm and 549 00:26:03,480 --> 00:26:05,480 Speaker 1: so the rate can't change for ten years, and there's 550 00:26:05,520 --> 00:26:07,800 Speaker 1: a lot that can happen in ten years. And so yeah, 551 00:26:07,800 --> 00:26:11,440 Speaker 1: we interestingly enough, we're actually gonna including rates go back 552 00:26:11,480 --> 00:26:14,520 Speaker 1: down to hopefully you know, in your case, historical ows again, right, 553 00:26:14,720 --> 00:26:16,639 Speaker 1: And so yeah, there's always a chance to refinance in 554 00:26:16,680 --> 00:26:19,320 Speaker 1: the future. We actually talked about this um on an 555 00:26:19,320 --> 00:26:21,800 Speaker 1: episode that's gonna come out Monday that we recorded with 556 00:26:22,080 --> 00:26:24,520 Speaker 1: Sam Dogan, the financial Samurai. He's been a big proponent 557 00:26:24,600 --> 00:26:27,760 Speaker 1: of adjustable rate mortgages for years, and so yeah, you 558 00:26:27,800 --> 00:26:30,280 Speaker 1: can hear maybe a little more of of Sam's thoughts 559 00:26:30,320 --> 00:26:33,440 Speaker 1: and our thoughts on that on Monday that's right. Yeah. 560 00:26:33,440 --> 00:26:35,560 Speaker 1: So let's talk about renters though for a second, because 561 00:26:35,600 --> 00:26:39,720 Speaker 1: because honestly, housing in general has skyrocketed in cost, affecting 562 00:26:39,760 --> 00:26:42,200 Speaker 1: both renters and home buyers in much of the same way. 563 00:26:42,720 --> 00:26:45,760 Speaker 1: But with the recent uptick and mortgage rates, it's looking 564 00:26:45,800 --> 00:26:48,880 Speaker 1: like more folks are opting to not buy the new 565 00:26:48,920 --> 00:26:51,879 Speaker 1: home and to keep renting instead. According to some recent stats, 566 00:26:52,119 --> 00:26:55,360 Speaker 1: owning a home is far more expensive than running right now. 567 00:26:55,680 --> 00:26:57,960 Speaker 1: And so what that means is that, like, even with 568 00:26:58,160 --> 00:27:01,480 Speaker 1: meaningful rent increases that a lot of folks are experiencing, 569 00:27:01,680 --> 00:27:05,200 Speaker 1: it's still a really competitive market. Uh. And so while 570 00:27:05,200 --> 00:27:08,359 Speaker 1: we're actually seeing fewer bidding wars on with single family 571 00:27:08,400 --> 00:27:11,399 Speaker 1: homes for buying a house, there's there's we're seeing starting 572 00:27:12,000 --> 00:27:14,520 Speaker 1: a little bit. Yeah. Uh, those bidding wars are actually 573 00:27:14,520 --> 00:27:18,679 Speaker 1: becoming more common for desirable rental units, which is just 574 00:27:18,840 --> 00:27:21,560 Speaker 1: which is crazy. Uh. And so let's talk about what 575 00:27:21,600 --> 00:27:24,919 Speaker 1: you can do about that, because unfortunately there's no silver bullet, 576 00:27:25,280 --> 00:27:27,199 Speaker 1: but we would recommend that you go listen back to 577 00:27:27,200 --> 00:27:29,840 Speaker 1: episode four sixty nine. That's where we talked about different 578 00:27:29,840 --> 00:27:33,120 Speaker 1: ways to reduce your rent. Justin Poke, we we talked 579 00:27:33,119 --> 00:27:35,639 Speaker 1: with him and he had some really helpful tips. But 580 00:27:35,920 --> 00:27:38,199 Speaker 1: our two cents is that staying put in negotiating with 581 00:27:38,240 --> 00:27:40,560 Speaker 1: your current landlord can be We think that can be 582 00:27:40,560 --> 00:27:43,360 Speaker 1: the best scenario if you like, relive if you don't 583 00:27:43,359 --> 00:27:46,200 Speaker 1: want to move, because even still, you know, with vacancies 584 00:27:46,320 --> 00:27:49,480 Speaker 1: near the lowest they've ever been. For a landlord, losing 585 00:27:49,520 --> 00:27:51,880 Speaker 1: a great tenant, you know, or even just missing one 586 00:27:51,920 --> 00:27:54,680 Speaker 1: month of rent, it is not in their best interest. 587 00:27:54,720 --> 00:27:58,080 Speaker 1: That is that they're trying to avoid. Uh. And that's 588 00:27:58,359 --> 00:28:01,840 Speaker 1: is what you can use to your vantage, especially hopefully 589 00:28:02,000 --> 00:28:04,400 Speaker 1: you've always paid your rent on time, that you are 590 00:28:04,440 --> 00:28:08,000 Speaker 1: a tenant that is desirable to that landlord. They want 591 00:28:08,040 --> 00:28:10,119 Speaker 1: to keep you around. They want their life to be easy, 592 00:28:10,480 --> 00:28:13,000 Speaker 1: So look for ways to make their life easy. Start 593 00:28:13,000 --> 00:28:16,080 Speaker 1: that conversation. Now. Signing the longer leases another one of 594 00:28:16,119 --> 00:28:17,959 Speaker 1: those things that you can offer, you know, and and 595 00:28:18,000 --> 00:28:22,440 Speaker 1: it might be interesting to at least some landlords. So Matt, 596 00:28:22,480 --> 00:28:24,639 Speaker 1: for instance, my most recent tenants, like they were like, 597 00:28:24,640 --> 00:28:27,160 Speaker 1: we're totally willing to sign a longer lease if that's 598 00:28:27,160 --> 00:28:30,199 Speaker 1: something you're into, and uh, it was. I mean, I'm like, 599 00:28:30,240 --> 00:28:32,359 Speaker 1: that's great. It makes it easier for me and I 600 00:28:32,359 --> 00:28:34,520 Speaker 1: don't have to worry about vacancy and and so it's 601 00:28:34,560 --> 00:28:38,120 Speaker 1: just for me, as like a mom and pop style landlord, 602 00:28:38,360 --> 00:28:41,280 Speaker 1: I'm down with those longer, with those longer leases, locking 603 00:28:41,360 --> 00:28:44,080 Speaker 1: in their price for longer and making me feel more comfortable. 604 00:28:44,160 --> 00:28:46,400 Speaker 1: So I think those are the kind of things you 605 00:28:46,440 --> 00:28:48,239 Speaker 1: need to as a as a renter be aware of 606 00:28:48,520 --> 00:28:51,400 Speaker 1: because that can help you negotiate a better rate on 607 00:28:51,440 --> 00:28:54,120 Speaker 1: your rent um. And and you know, real estate trans 608 00:28:54,360 --> 00:28:57,160 Speaker 1: obviously vary from market to market, so uh yeah, in 609 00:28:57,240 --> 00:28:59,320 Speaker 1: some of the markets that saw the biggest upward swing, 610 00:28:59,440 --> 00:29:02,360 Speaker 1: I'm looking at you, Idaho, we're seeing more or Boise 611 00:29:02,440 --> 00:29:04,680 Speaker 1: in particular. We're seeing quicker price drops in a lot 612 00:29:04,720 --> 00:29:07,160 Speaker 1: of those markets. And so it's just it's important to 613 00:29:07,160 --> 00:29:09,240 Speaker 1: know what's going on in your particular market before you 614 00:29:09,280 --> 00:29:11,960 Speaker 1: decide to offer too much for rental unit that isn't 615 00:29:12,040 --> 00:29:14,840 Speaker 1: actually in high demand, because bidding wars are happening in 616 00:29:14,880 --> 00:29:18,440 Speaker 1: some places, but it's dependent on where you live specifically. 617 00:29:18,480 --> 00:29:20,360 Speaker 1: You don't want to necessarily go in there and be like, 618 00:29:20,640 --> 00:29:23,000 Speaker 1: I know you're charged in this, but I'll offer you 619 00:29:23,040 --> 00:29:26,200 Speaker 1: two thousand dollars. When that landlord said, well, huh, that 620 00:29:26,240 --> 00:29:28,240 Speaker 1: wasn't that wasn't even my my radar. I I haven't 621 00:29:28,240 --> 00:29:30,240 Speaker 1: even shown this to anybody, like absolutely, I'll I will 622 00:29:30,280 --> 00:29:32,280 Speaker 1: take the right There's ways to ask good questions to 623 00:29:32,320 --> 00:29:34,840 Speaker 1: kind of figure out how in demand your market is 624 00:29:35,040 --> 00:29:38,040 Speaker 1: or that particular unit might be. That's right. Yeah, So Joel, 625 00:29:38,080 --> 00:29:39,360 Speaker 1: let's kind of wrap things up here. We're going to 626 00:29:39,440 --> 00:29:43,240 Speaker 1: celebrate America here on Monday. We hope everyone has a 627 00:29:43,520 --> 00:29:47,120 Speaker 1: lovely holiday weekend, celebrating the holiday with friends and family. 628 00:29:47,400 --> 00:29:49,760 Speaker 1: But I feel like oftentimes a lot of our stories 629 00:29:49,840 --> 00:29:52,880 Speaker 1: do have to to do with inflation. Well, it's kind 630 00:29:52,880 --> 00:29:55,120 Speaker 1: of dominating a world in a lot of ways right now. 631 00:29:55,160 --> 00:29:58,239 Speaker 1: Inflation is going to make that cookout a little more costly. Uh. 632 00:29:58,440 --> 00:30:00,920 Speaker 1: Bloomberg had an article about what the the typical family 633 00:30:00,960 --> 00:30:02,840 Speaker 1: is going to have to shell out in order to 634 00:30:02,920 --> 00:30:05,800 Speaker 1: host a cookout, and as I'm sure you've guessed, it's 635 00:30:05,840 --> 00:30:08,520 Speaker 1: not going to be pretty ground Beef prices are up 636 00:30:08,640 --> 00:30:11,880 Speaker 1: thirty six percent over the past year. If you prefer chicken, 637 00:30:11,960 --> 00:30:13,760 Speaker 1: it's still gonna be up. At ton we're looking at 638 00:30:13,800 --> 00:30:18,080 Speaker 1: thirty three percent. Even pork and beans. I did actually 639 00:30:18,120 --> 00:30:21,000 Speaker 1: like porking music as a child. Yea, even that's up 640 00:30:21,000 --> 00:30:23,720 Speaker 1: thirty three percent, And so keep that in mind as 641 00:30:23,840 --> 00:30:26,680 Speaker 1: you are at the grocery store considering what you're gonna 642 00:30:26,720 --> 00:30:29,400 Speaker 1: buy for this weekend. Sort of a silver lining here, 643 00:30:29,400 --> 00:30:31,920 Speaker 1: strawberries are actually cheaper than they were last year. Not 644 00:30:32,000 --> 00:30:34,960 Speaker 1: sure how that happened, but as always, like where you 645 00:30:35,000 --> 00:30:38,360 Speaker 1: shot matters the most. We're big fans of Costco. Of Aldi, 646 00:30:38,960 --> 00:30:41,920 Speaker 1: there's a that's the closest grocer. There's a legal close 647 00:30:41,920 --> 00:30:43,800 Speaker 1: to us, and we have not yet been. I'm so 648 00:30:43,840 --> 00:30:46,120 Speaker 1: stoked because have you been there yet? Well, I've been 649 00:30:46,120 --> 00:30:48,400 Speaker 1: into legals before, but I've not been into this to 650 00:30:48,480 --> 00:30:50,840 Speaker 1: your local legal. And well, there was one by where 651 00:30:50,920 --> 00:30:52,360 Speaker 1: we used to live where we just proved probably it 652 00:30:52,480 --> 00:30:54,960 Speaker 1: just had not opened yet. Okay, I thought it had 653 00:30:54,960 --> 00:30:56,640 Speaker 1: just we were so excited to check it out, and 654 00:30:56,680 --> 00:30:58,920 Speaker 1: it still had no by the time we left. But no, 655 00:30:59,320 --> 00:31:00,960 Speaker 1: I can't wait to get over there. And it's it's 656 00:31:01,000 --> 00:31:03,040 Speaker 1: kind of like in all the on steroids. It's like 657 00:31:03,080 --> 00:31:04,440 Speaker 1: just a little bit bigger, a little bit bigger, a 658 00:31:04,440 --> 00:31:06,760 Speaker 1: little more. Selection impression is that it's a little bit nicer, yeah, 659 00:31:06,760 --> 00:31:08,760 Speaker 1: a little bit nicer maybe, and that the prices are 660 00:31:08,760 --> 00:31:11,720 Speaker 1: still supposed to be just incredibly low. So it's the 661 00:31:11,760 --> 00:31:14,800 Speaker 1: Holy Tody Aldi. We'll give our thoughts on that after 662 00:31:14,840 --> 00:31:18,080 Speaker 1: we actually we will share our thoughts on that soon 663 00:31:18,520 --> 00:31:20,560 Speaker 1: for sure. But we wanted to share this story because 664 00:31:20,600 --> 00:31:22,240 Speaker 1: avoiding some of these items that have gone up in 665 00:31:22,320 --> 00:31:25,360 Speaker 1: price the most, that's a smart move as well. We 666 00:31:25,400 --> 00:31:27,520 Speaker 1: want you to take that into account. We always want 667 00:31:27,560 --> 00:31:30,280 Speaker 1: you to consider making some tweaks to your spending when 668 00:31:30,280 --> 00:31:32,440 Speaker 1: it comes to finding ways to spend less. That's right. 669 00:31:32,600 --> 00:31:34,560 Speaker 1: So we hope you have a great weekend, have a 670 00:31:34,600 --> 00:31:36,720 Speaker 1: great July four, and we will see you back here 671 00:31:36,720 --> 00:31:39,160 Speaker 1: on Monday. It's Financial Independence Week on How the Money 672 00:31:39,240 --> 00:31:41,600 Speaker 1: next week, and we will be talking, like I said 673 00:31:41,640 --> 00:31:45,720 Speaker 1: with financial Samurai Sam Dogan on Monday's episode, I hope 674 00:31:45,720 --> 00:31:48,120 Speaker 1: you get a chance to listen. Sam has been incredibly 675 00:31:48,160 --> 00:31:51,080 Speaker 1: thoughtful about all things personal finance for more than a 676 00:31:51,120 --> 00:31:53,560 Speaker 1: decade on his site. And so yeah, I can't wait 677 00:31:53,560 --> 00:31:55,040 Speaker 1: for you all to hear that episode. That's all right, 678 00:31:55,120 --> 00:31:57,360 Speaker 1: So Joel buddy, that's gonna be it for the inaugural 679 00:31:57,360 --> 00:32:00,000 Speaker 1: episode that we're recording in our new space until next 680 00:32:00,000 --> 00:32:02,400 Speaker 1: it's time best Friends Out, Best Friends Out.