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Speaker 1: Welcome to Had of Money.

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Speaker 2: I'm Joel, I'm Matt.

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Speaker 1: Today we're talking about taco trading pointless points and millionaire renters.

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Speaker 2: Taco Cat Go Cheese Pizza, Joel, Is that a game

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Speaker 2: that you'll play?

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Speaker 3: Oh?

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Speaker 2: Yeah, that's fun.

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Speaker 1: Yeah.

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Speaker 3: For all the folks with kids out there, If you

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Speaker 3: have not yet tried the card game Taco Cat Goat

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Speaker 3: Cheese Pizza, I.

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Speaker 2: Would highly recommend. It's a ton of fun.

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Speaker 1: They have like a holiday themed one that's like, dude,

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Speaker 1: I forget what it's like, Santa Elf something. Yeah, but

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Speaker 1: those are fun to play with the kids.

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Speaker 2: Yeah.

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Speaker 3: But in fact, this is our Friday flight where we're

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Speaker 3: going to talk about the best headlines from this past

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Speaker 3: week how they pertain to your personal finances. Joel real

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Speaker 3: quick man. I was talking to a family member about

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Speaker 3: getting a c PAP. This is something that was put

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Speaker 3: on his radar by his doctors talking about how much

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Speaker 3: of a hassle it is, which by.

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Speaker 1: His wife probably Yeah, he snore. Man, why don't you

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Speaker 1: fix that?

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Speaker 2: But what's the latest with you?

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Speaker 3: Because I know that's something that you looked into, you know,

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Speaker 3: getting some of that oxygen flowing at night, So you.

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Speaker 2: Seem to want to have your breathing interrupted.

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Speaker 1: Actually all about listener Seth just sent us an email

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Speaker 1: this week and he was asking like, Hey, whatever happened

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Speaker 1: with that and how did you Because he's I'm facing

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Speaker 1: down a many thousand dollars bill to get the sleep

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Speaker 1: test and get the equipment. I think you said you

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Speaker 1: did it for cheaper and I was like, oh, yeah, yeah,

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Speaker 1: let me let me mention that on the podcast. I'll

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Speaker 1: give the details. So basically, my friend Garrett had done

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Speaker 1: this and he tipped me off. He said, hey, you

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Speaker 1: can actually do an at home sleep test. Now, by

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Speaker 1: the way, this is not medical advice. I'm not a

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Speaker 1: medical practitioner here, but I there's a site called Lafta,

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Speaker 1: and you I think there's like two points of contact,

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Speaker 1: ones on the finger and then ones around your chest.

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Speaker 1: If I remember correctly, it's been a minute. But so

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Speaker 1: then they record you the way you sleep during the

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Speaker 1: night and they say, hey, you either have sleep apnea

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Speaker 1: or or you don't. I did. I pretty much knew that.

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Speaker 2: You were like, yeah, yeah, I figured figured that was

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Speaker 2: a kid.

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Speaker 1: Yeah, so but uh, and then Lafta will also sell

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Speaker 1: you the equipment. But I'm at home sleep test is

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Speaker 1: super cheaps less less than two hundred bucks. And when

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Speaker 1: you're talking about going into a hospital facility overnight to

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Speaker 1: do that's.

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Speaker 3: That seems like the big advantage. I remember when you

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Speaker 3: mentioned that because this was something that you'd done previously, right,

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Speaker 3: I guess like when you were a kid, when I

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Speaker 3: were like a young adult basically yeah, not a kid, yea,

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Speaker 3: but when you had benefits provided by the man. And

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Speaker 3: that's not something that we don't have that are being

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Speaker 3: self employed. But that sounded like a nightmare scenario. It's like,

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Speaker 3: it sounds like some of these like university studies where

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Speaker 3: you're in this cold laboratory and you're like, okay, sleep

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Speaker 3: on the steel table.

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Speaker 1: You feel like a guinea pig.

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Speaker 2: For sure, it's terribly that's not gonna I'm not gonna

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Speaker 2: be able to sleep.

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Speaker 1: It was much nicer to have it done in your

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Speaker 1: bed at home and then literally just you know, you upload,

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Speaker 1: upload the results of your sleep and then they tell you, yeah,

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Speaker 1: you do you need this or whatever and uh, and

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Speaker 1: you can pay them more for kind of more guided

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Speaker 1: help along the way in choosing your SEATPAP machine. And

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Speaker 1: I think there are other companies out there that do this.

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Speaker 1: By the way, this is just the company I use

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Speaker 1: that my friend used.

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Speaker 3: By the way, it's worth mentioning. We don't have any affiliation,

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Speaker 3: No Lafta.

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Speaker 2: Not at all. Which do they?

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Speaker 3: Is there a company called Lafta that also makes mattresses

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Speaker 3: or something probably something very less sound like a mattress

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Speaker 3: company like Lafta.

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Speaker 1: Well, and then you can buy your seatpap equipment from

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Speaker 1: Lafta because they're essentially writing you a prescription. But you

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Speaker 1: can also take that prescription and shop elsewhere, which is

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Speaker 1: what I did. I chopped around on the open market

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Speaker 1: for that seatpap machine, and I was able to save

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Speaker 1: a lot of money buying it from an internet company.

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Speaker 1: There were like some great sales going on, so I

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Speaker 1: would just say, yeah, get that home sleep sleep study

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Speaker 1: and then look around for the machine that is going

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Speaker 1: to work for you. And you should be able to

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Speaker 1: do this instead of for many, many thousands of dollars,

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Speaker 1: for less than a thousand dollars total.

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Speaker 3: You didn't get your equipment from Timu or anything. No,

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Speaker 3: Jill lags up in the middle of the night and

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Speaker 3: his equipment of strangling him. I can't breathe just breathing

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Speaker 3: in straight lead. No, I do think I love that

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Speaker 3: this is an option, that there are other options out

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Speaker 3: there for folks where you don't necessarily have to spend

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Speaker 3: thousands of dollars.

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Speaker 2: Hopefully, have you been wearing it like consistently?

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Speaker 3: That's the thing, Matt, It's you got the kind that's

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Speaker 3: like the pigtail out the top of your s right

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Speaker 3: so that you could roll around.

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Speaker 1: There's all sorts of different kinds of masks that you

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Speaker 1: can choose from.

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Speaker 2: Not that I watch you while you sleep, but you

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Speaker 2: told me, you told me about it.

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Speaker 1: Yeah, some that are more invasive than others, and that

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Speaker 1: is has been the best kind that I've that I've tried.

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Speaker 2: As they go, that has been the most successful.

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Speaker 1: But unit, it's really hard not to get used to it.

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Speaker 1: And so do I find myself ripping it off?

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Speaker 2: Yes?

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Speaker 1: Have I found myself not putting it on at all

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Speaker 1: many nights?

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Speaker 2: Yes?

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Speaker 1: Also I get it. So is the cpath that you

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Speaker 1: bought that you got to let a much better price

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Speaker 1: on still a good deal if you don't use it.

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Speaker 1: That's that might be a philosophical I would never know

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Speaker 1: the answer to.

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Speaker 3: Even Still, I'd rather spend a few hundred dollars and

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Speaker 3: a few thousand dollars when the potential outcome might be

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Speaker 3: the same, which is you not necessarily wearing it. All right, man,

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Speaker 3: let's keep moving. But let's talk about travel and vacationing

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Speaker 3: because Southwest has officially made their change. Paying for check

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Speaker 3: bags started on Wednesday, much to our shigrin that being said,

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Speaker 3: if you bought a ticket before that deadline, you will

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Speaker 3: get to enjoy free check bags one more time. That

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Speaker 3: was me, That was me, yeah, so, but moving forward,

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Speaker 3: it is going to cost you thirty five dollars for

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Speaker 3: that first bag, forty five dollars for the next. Sounds

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Speaker 3: like typical airline. It's like fee structure right here, man,

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Speaker 3: everybody else it's certainly gonna make uh. That was like

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Speaker 3: our favorite reason, one of the reasons to go with Southwest,

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Speaker 3: specifically the free check bag. That's that's how you get

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Speaker 3: the nice beer haul. That's right when you are flying

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Speaker 3: from other cities, which was something that you got to

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Speaker 3: do one last time.

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Speaker 1: Yes, from Texas. And I'm not usually a huge checked

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Speaker 1: bag guy. I don't like the check bags unless I'm

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Speaker 1: checking for beer or I'm going on my annual backpacking

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Speaker 1: trip in which case, I'm bringing a lot more than

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Speaker 1: I normally do my giant backpacking bag, and so in this.

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Speaker 3: Case seem to fit all everything you need in tiny

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Speaker 3: little CoA wis. It's like a real man living off

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Speaker 3: of the off the land. At that point, there's more

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Speaker 3: you need for that. In addition to that, though, basic

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Speaker 3: economy fairs are going to be implemented, which will replace

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Speaker 3: the want to get away option that you've gotten used

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Speaker 3: to see, it's really hard for me to hear the

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Speaker 3: one to get away. Every time I would see I

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Speaker 3: would think of that Lene Kravitz song.

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Speaker 2: The I Want to get Away.

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Speaker 3: I get that I get by from the nineties. But

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Speaker 3: then to twist the knife even further, flight credits are

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Speaker 3: going to expire within six months before they actually never expired.

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Speaker 2: You could just hang on to that.

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Speaker 3: So but that means if you cancel a trip this

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Speaker 3: is something you got, you got to basically add it

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Speaker 3: to the calendar that, hey, we need to make sure

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Speaker 3: that we use utilize those credits.

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Speaker 2: In order to not lose those credits.

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Speaker 1: That was one of the greatest perks of being a

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Speaker 1: Southwest customer was, Hey, you know what, I cancel that

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Speaker 1: that trip and I can use those points anytime into

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Speaker 1: the future. The six month thing is real drag. All

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Speaker 1: these things are big drag, and it should, I think,

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Speaker 1: reduce the loyalty you feel. If you've been someone who's

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Speaker 1: like I fly Southwest because they're great, and I'm sure

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Speaker 1: they'll still be great in some ways. There's a lot

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Speaker 1: of reasons to be less loyal and just shop for

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Speaker 1: the lowest fare, and Southwest was pretty competitive unfairs, although

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Speaker 1: not always the lowest, of course. But I think this

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Speaker 1: just should push all of us more in the direction

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Speaker 1: of shopping and being less loyal to any airline in particular.

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Speaker 1: And I think that's just been more and more of

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Speaker 1: the case in general too, especially as airlines are saying

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Speaker 1: it's less about how frequently you travel on us, it's

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Speaker 1: more about how much money you're spending. So if you're

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Speaker 1: the kind of normal person who flies a few times

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Speaker 1: a year, then shopping around makes even more sense than

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Speaker 1: being loyal, because you're not going to get rewarded for

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Speaker 1: your loyalty at airlines nearly as much these days. And

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Speaker 1: then pack light two because I think I would love

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Speaker 1: to see more folks avoid checking bags all together. I

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Speaker 1: know it's not always possible, especially like on my backpacking trip, right,

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Speaker 1: but I think it is more possible than most folks

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Speaker 1: to avoid checking a bag. So whatever airline you're on,

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Speaker 1: Southwest included, now think about the added costs that checking

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Speaker 1: a bag is going to add to your life, and

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Speaker 1: hopefully you can travel lighter.

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Speaker 3: That's right, buddy, And as is usual on our Friday flight,

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Speaker 3: we have our standing tariff updates. Heavy terrifts against the

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Speaker 3: EU were threatened and then pulled back.

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Speaker 1: We didn't talk about before tariff's by the way.

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Speaker 3: We talked about shrinkflation and how much money the government

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Speaker 3: was going to infuse into our bank accounts via the

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Speaker 3: stemmy money egg prices.

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Speaker 2: Egg prices that was a little.

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Speaker 3: Bit more recent, which, by the way, I feel like

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Speaker 3: we've seen those prices come back down.

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Speaker 2: Actually, But this.

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Speaker 3: Rebounding nature of Trump's terraffs has been true of essentially,

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Speaker 3: I mean, honestly, every trade policy threat that the Trump

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Speaker 3: administration has made, where he says that tariffs are God's

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Speaker 3: gifts of the world, but then in reality that they

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Speaker 3: only seem to be used as like this blunt instrument

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Speaker 3: in order to force other countries to negotiate whether or

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Speaker 3: not it's working is debatable, but it's working for some

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Speaker 3: investors who are per anticipating in taco trading. And so

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Speaker 3: the acronym stands for Trump always chickens out, thus the

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Speaker 3: taco and Joel. Some investors are making their investment decisions

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Speaker 3: based on terror threats that don't actually materialize. They're making money.

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Speaker 3: This is something that I feel like we were alluding

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Speaker 3: to this when it came to Terras the first time around,

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Speaker 3: when it's just like, you know what, there's a whole

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Speaker 3: lot of talk, but let's actually see if this pans

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Speaker 3: out as something that gets implemented. By the way, we

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Speaker 3: would not recommend for folks to participate in taco trading.

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Speaker 3: This is a pure speculative, casino gambling like mentality. It

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Speaker 3: is not how you grow your wealth over the long run.

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Speaker 2: Yeah.

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Speaker 1: But that being said, I mean, do you remember I

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Speaker 1: think when President Trump truthed out, hey, now's a good

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Speaker 1: time to buy, and he was spot on because he

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Speaker 1: controls the lever essentially of what's gonna happen with the

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Speaker 1: economy with a lot of these tariffs. And so if

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Speaker 1: you listened to the truth and you bought at that

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Speaker 1: very moment in time, you would have done quite well

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Speaker 1: for yourself. We've seen man like a twenty plus percent

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Speaker 1: run up in the stock market since then. So I

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Speaker 1: get why people are saying, I'm going to trade on

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Speaker 1: this because it sure looks like I'm seeing a trend

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Speaker 1: here which is threatened tariffs that don't actually come to pass,

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Speaker 1: at least not in any significant manner. So when the

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Speaker 1: stock market freaks because of the proposal, then and I'll

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Speaker 1: buy in at the low side, and I am richer

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Speaker 1: because of the comeback of that stock or specific industry experiences.

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Speaker 1: But also on the tariff talk, Matt, tariffs might not

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Speaker 1: just be rolled back by Trump himself, right, That has

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Speaker 1: become a pattern. But the courts are now weighing in

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Speaker 1: and they have said that the president lacks the legal

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Speaker 1: authority to institute widespread tariffs as he's been doing. Yeah,

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Speaker 1: it's kind of a one man wrecking ball. And they said,

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Speaker 1: stop it so familiar, You're not allowed to do that.

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Speaker 1: And the stock market was pleased when they when they

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Speaker 1: saw that ruling. But a federal trade court basically said

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Speaker 1: that this big chunk of tariffs that have been levied

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Speaker 1: by the executive branch is an overreach of that branch

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Speaker 1: of government and that their I guess legal footing is substandard.

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Speaker 1: But also like will this ruling stick around what happens

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Speaker 1: with appeals? We don't know, But for the time being,

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Speaker 1: that's kind of where things stand. And it makes me

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Speaker 1: think back to when the Biden administration tried to eliminate

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Speaker 1: and forgive student loan debt. The courts basically said, hey,

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Speaker 1: you guys don't have the legal authority to do this,

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Speaker 1: and so they attempted to find other legal means, like

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Speaker 1: get different basically legal footing to get the to pass

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Speaker 1: what they wanted to pass. Well, President Trump is likely

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Speaker 1: to do the same here. He might say, actually, the

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Speaker 1: statute I was using to try to institute tariffs on

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Speaker 1: other countries, well, I'm going to use this other statute

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Speaker 1: over here. Now it's okay, right as usual. It would

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Speaker 1: be great if Congress would do their job. This is

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Speaker 1: kind of one of a role that was especially built

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Speaker 1: for them that they seem to be abandoning. But for

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Speaker 1: the time being, tariff rates have been rolled back. Where

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Speaker 1: things go from here is anybody's guests. We will continue

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Speaker 1: in all likely next week on how to money tariff

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Speaker 1: talk I'm sure.

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Speaker 2: That's right man.

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Speaker 3: All right, So we briefly mentioned the MAGA accounts element

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Speaker 3: of the big beautiful bill that barely passed the House

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Speaker 3: last week.

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Speaker 2: The reason, or I would say, one of the reasons

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Speaker 2: there's so.

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Speaker 3: Much focus on this is because the tax cuts and

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Speaker 3: jobs at will sunset at the end of this year. That,

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Speaker 3: in addition to the fact that the GOP has rolled

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Speaker 3: all of their they put all their eggs in one basket,

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Speaker 3: all the hopes of streams. This one basket is the BBB.

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Speaker 3: But let's discuss a few of the other potential changes

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Speaker 3: that would impact your personal finances if it were to

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Speaker 3: pass the Senate and get signed into law, one of

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Speaker 3: which is that hsas could get even better doubling the

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Speaker 3: allowed annual contribution. If that remains, that's going to mean

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Speaker 3: you can funnel even more money into that triple tax

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Speaker 3: advantage account, which is fantastic.

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Speaker 1: And I think there was a change in the law

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Speaker 1: that basically said, oh, you can use your HSA for

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Speaker 1: more things in including a gym membership, which is kind

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Speaker 1: of cool. So HSA could be getting a heck of

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Speaker 1: a lot better soon.

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Speaker 3: Then it begs a question, Okay, well, what if you

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Speaker 3: decide to implement your own gym at your own house

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Speaker 3: and therefore by equipment. Maybe maybe child tax credits will

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Speaker 3: be bumped from two thousand to twenty five hundred dollars.

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Speaker 1: Per child, which makes you want to have more children.

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Speaker 3: Yeah, there's a higher standard deduction for folks who are

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Speaker 3: sixty five and older, and the ev tax credit would

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Speaker 3: be repealed at the end of the year as well,

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Speaker 3: And there's of course plenty more that's included. But we

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Speaker 3: will continue to cover this as things move along or

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Speaker 3: not move along. Maybe as it gets sent back after

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Speaker 3: the Senate, perhaps makes makes some changes as way, but

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Speaker 3: we'll keep folks posted well.

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Speaker 1: Taxing different types of earnings differently is a big part

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Speaker 1: of the proposal too. It's right specif we like no

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Speaker 1: tax on tips and overtime pay. That's not something that

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Speaker 1: we love though, And I think the domino effect of

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Speaker 1: this getting baked into tax policy could have annoying, cascading consequences, right,

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Speaker 1: including more requests for tips. Think about if you are

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Speaker 1: an industry that thrives on tips, you're gonna want to

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Speaker 1: find a way to get customers to funnel even more

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Speaker 1: money in tips your way because they're tax free dollars

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Speaker 1: coming into your bank account. And so I think it's

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Speaker 1: it's just interesting that we're prioritizing or saying that different

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Speaker 1: ways you earn income will be taxed. Definitely, we already

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Speaker 1: say that to a small extent, but we'd be making

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Speaker 1: that an even wider gap. And I just I don't

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Speaker 1: love the precedent that sets. And on the tip tipping thing,

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Speaker 1: Americans already frustrated by the frequency of tip requests that

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Speaker 1: we experience in modern day modern days, right, and so

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Speaker 1: how people are going to react individually to being asked

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Speaker 1: for more tips and then for bigger tips. That's going

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Speaker 1: to be interesting to watch because I feel like we're

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Speaker 1: already experiencing a bit of a tipping rebellion happening right now.

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Speaker 3: Man.

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Speaker 1: I mean, I was buying a pizza the other night

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Speaker 1: and the check I was going to go pick it up,

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Speaker 1: they're not delivering it. And at check out they're like, hey,

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Speaker 1: do you want to do like a fifteen, twenty or

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Speaker 1: twenty five percent tip? And I was just shocked. That

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Speaker 1: felt pretty uncouth to even ask that when I'm going

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Speaker 1: to pick the PiZZ up. It's different if you're delivering

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Speaker 1: it to me, and I think those are the kind

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Speaker 1: of things that a lot of Americas are just kind

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Speaker 1: of frustrated by with tipping culture right now, it's like

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Speaker 1: everybody's asking for a tip. That might only get worse

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Speaker 1: if the no tax on tips becomes a reality.

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Speaker 3: Yeah, the Big Beautiful Bill also is going to have

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Speaker 3: an impact on student loans as well. The new plan

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Speaker 3: would be to take the alphabet soup of repayment plans

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Speaker 3: down to just two, which I will say would make

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Speaker 3: it easier to understand, but also it's going to make

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Speaker 3: it a bit less generous, and so essentially the more

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Speaker 3: you borrow, the longer that you're going to have to

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Speaker 3: pay it back, up to twenty five years for folks

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Speaker 3: who are borrowing over one hundred thousand dollars, which we

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Speaker 3: would not recommend. By the way, the income based plan

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Speaker 3: ties your payment to a percentage of your income, so

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Speaker 3: basically a sliding scale that requires you to pay a

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Speaker 3: lot less if you make less. And the bill would

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Speaker 3: also eliminate subsidized student loans as well as forbearans and defferments,

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Speaker 3: which actually might not be necessary given the way the

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Speaker 3: income based plot and is structured. So it's not necessarily perfect,

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Speaker 3: but student loan plans will be easier to understand in

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Speaker 3: the way that the structured it could help tamp down

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Speaker 3: tuition inflation. Again, whether or not this remains as it

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Speaker 3: is currently written, after the Senate takes a look at it,

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Speaker 3: that's of course going to have an impact as to

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Speaker 3: the implementation of the new student loan rules moving forward.

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Speaker 1: Where the kind of state and local deduction thing will land.

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Speaker 1: That's another thing that's like a really important piece of

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Speaker 1: this legislation that's kind of being battled right now as well.

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Speaker 1: So yeah, we'll keep our eyes on this, and it

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Speaker 1: is just fascinating to see that there's a lot of

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Speaker 1: changes that could really impact your finances and your taxes

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Speaker 1: in particular moving forward. So I'm sure we'll have more

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Speaker 1: discussions on this soon, Matt. We've got more to get

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Speaker 1: to on today's show, though. We're going to talk about

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Speaker 1: the devaluation of credit card points, and then we're also

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Speaker 1: going to talk about house swapping how that could make

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Speaker 1: your vacation a whole lot cheaper. We'll get to that

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Speaker 1: and more right after this.

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Speaker 3: All right, buddy, we are back from the break, and

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Speaker 3: now it is time for the ludicrous headline of the week,

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Speaker 3: and this one is from the site Miles to Memories.

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Speaker 3: The headline reads City thank You points will soon be

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Speaker 3: worth twenty five percent less Joel. The credit card companies

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Speaker 3: that giveth and they taketh away City points are being

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Speaker 3: devalued by twenty five percent beginning in August, which will

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Speaker 3: likely come as a big shock to folks who have

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Speaker 3: been accruing points via their city credit cards. So, first

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Speaker 3: of all, it's okay to be frustrated. This isn't something

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Speaker 3: that I like, I don't think like. For instance, like

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Speaker 3: when you're at the grocery store and you experience some shrinkflation,

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Speaker 3: it feels less egregious because you have a choice to

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Speaker 3: buy something else, right, You've got options, But deflating the

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Speaker 3: actual value of your points that you've accrued by a

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Speaker 3: meaningful amount feels a bit more like robbery.

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Speaker 2: Right.

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Speaker 3: It's not like you have some other option of being like, Okay,

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Speaker 3: well you stay with us, and maybe we'll only devalue

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Speaker 3: it by fifteen percent or ten No, no, no, just

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Speaker 3: a twenty five percent cut cross the board. But just

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Speaker 3: know that you have a small window to use those

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Speaker 3: points at the current full value before that value gets slashed.

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Speaker 3: That's gonna be August twenty fourth, yet another date to

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Speaker 3: put on the calendar. It reminds me of subscriptions, right, like,

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Speaker 3: put it on the calendar. Know that this is something

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Speaker 3: you need to because right now you're listening. Maybe you're

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Speaker 3: sitting at a stoplight, right Brittany Chris, I know you're listening,

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Speaker 3: but you're not gonna dive into figuring all of this

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Speaker 3: out right there now, you know. But add it to

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Speaker 3: your calendar. Make sure this is something that you pay

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Speaker 3: attention to, because I would hate for folks to miss

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Speaker 3: out on some of the value that they are entitled

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Speaker 3: to overnight just because they miss it by a couple

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Speaker 3: of days.

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Speaker 1: Yeah, and you might have been using that card in

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Speaker 1: hopes of booking travel in the future, and you're like

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Speaker 1: just stashing the point, stashing the points so you can

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Speaker 1: plan an epic vacation and then for city to come

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Speaker 1: out and pull the rug from under you and be like,

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Speaker 1: h I mean, you're gonna have to have a lot

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Speaker 1: more points now to get the vacation you'd hope for.

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Speaker 1: That's just a frustrating thing to experience. So booking sooner

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Speaker 1: than later is a good idea. And by the way,

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Speaker 1: City is not the only company doing this, I mean Hyatt.

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Speaker 1: Earlier this year they shifted hotel tiers to make it

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Speaker 1: more expected to book with points at some of their properties,

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Speaker 1: and these point devaluations are becoming normalized. The CFPB, the

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Speaker 1: Consumer of Financial Production Bureau, I believe they're on life support.

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Speaker 1: They were poised to do something about this at the

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Speaker 1: end of twenty twenty four. They were basically saying, hey,

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Speaker 1: shot across the bow, credit card companies, you can't devalue

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Speaker 1: points like this, or we're going to come after you. Well,

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Speaker 1: that's unlikely to continue now because, like I said, the CFPB,

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Speaker 1: they are barely breathing, they're barely holding on, so they're

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Speaker 1: probably not going to actually see that through. I think

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Speaker 1: it's important for folks to not overestimate the value of

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Speaker 1: their points and to just get about using them. The

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Speaker 1: more you hoard them, the less valuable they become over time.

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Speaker 1: So yeah, plan your fun trip asap. Let this be

439
00:19:47,359 --> 00:19:50,080
Speaker 1: an excuse to start using the points instead of just

440
00:19:50,400 --> 00:19:53,679
Speaker 1: holding on to them. And I think too, Matt, this

441
00:19:53,840 --> 00:19:56,720
Speaker 1: is actually maybe another change that people might want to

442
00:19:56,760 --> 00:20:00,960
Speaker 1: consider making is if travel rewards points are becoming less valuable.

443
00:20:01,440 --> 00:20:06,120
Speaker 1: It makes straight up two percent cash back cards more attractive. Yeah,

444
00:20:06,200 --> 00:20:09,160
Speaker 1: because you don't really have to think about it. And

445
00:20:09,440 --> 00:20:11,760
Speaker 1: so yeah, if you're like, oh, yeah the travel points

446
00:20:11,800 --> 00:20:14,280
Speaker 1: game playing that has got me some sick deals, well

447
00:20:14,520 --> 00:20:17,200
Speaker 1: the if the deals are less sick, then cash back

448
00:20:17,240 --> 00:20:19,560
Speaker 1: credit cards just seem to make a little bit more

449
00:20:19,560 --> 00:20:20,240
Speaker 1: sense these days.

450
00:20:20,320 --> 00:20:22,960
Speaker 3: Yeah, I think folks might be less interested in jumping

451
00:20:22,960 --> 00:20:25,240
Speaker 3: through all the different hoops in order to like the

452
00:20:25,520 --> 00:20:30,520
Speaker 3: five percent rotating category spend am u is it discover

453
00:20:31,760 --> 00:20:33,280
Speaker 3: But it kind of comes down to, I guess what

454
00:20:33,320 --> 00:20:34,520
Speaker 3: phase of life you're in, Because if you are in

455
00:20:34,560 --> 00:20:36,280
Speaker 3: the phase of life where you're looking to simplify your

456
00:20:36,320 --> 00:20:40,240
Speaker 3: finances in streamlines and things like, I'm all about finding

457
00:20:40,240 --> 00:20:43,800
Speaker 3: ways to optimize and get the best bang for your buck.

458
00:20:43,960 --> 00:20:45,880
Speaker 3: But beyond a certain point, it just feels like too much.

459
00:20:45,920 --> 00:20:47,280
Speaker 3: You know, like if you were the kind of person

460
00:20:47,320 --> 00:20:50,600
Speaker 3: who wants to squeeze every last bit of toothpaste out

461
00:20:50,600 --> 00:20:52,879
Speaker 3: of the tube, I'm gonna squeeze it a little bit,

462
00:20:53,080 --> 00:20:54,639
Speaker 3: you know, but like, you know what, I've never done.

463
00:20:54,760 --> 00:20:56,520
Speaker 3: Have you ever cut the end of it off and

464
00:20:56,560 --> 00:20:58,600
Speaker 3: then like scraped out the toothpaste. I have You've seen

465
00:20:58,600 --> 00:21:02,040
Speaker 3: people do that hyperfergal friends. Yeah, And I'm just like, Okay,

466
00:21:02,080 --> 00:21:04,119
Speaker 3: maybe you can get like what two more days of

467
00:21:04,640 --> 00:21:05,960
Speaker 3: I don't know. I guess it depends on how often

468
00:21:06,000 --> 00:21:10,560
Speaker 3: you I guess, but I'm like, I'm willing to give

469
00:21:10,600 --> 00:21:12,040
Speaker 3: it a little bit of a squeeze, but I'm not

470
00:21:12,080 --> 00:21:13,919
Speaker 3: willing to like go through the steps of cutting it.

471
00:21:13,920 --> 00:21:16,120
Speaker 3: And that's what it feels like, some of these different

472
00:21:16,200 --> 00:21:18,159
Speaker 3: requirements and hoops that we have to jump through in

473
00:21:18,200 --> 00:21:20,440
Speaker 3: order to garner the mo ast benefit from these different

474
00:21:20,480 --> 00:21:24,040
Speaker 3: banks that they're asking of us. Speaking of actually Discover,

475
00:21:24,920 --> 00:21:27,240
Speaker 3: I saw that they're now part of Capital One. I

476
00:21:27,320 --> 00:21:29,240
Speaker 3: didn't realize that, but someone in the how to Money

477
00:21:29,280 --> 00:21:32,320
Speaker 3: Facebook group mentioned that the only credit card that they

478
00:21:32,400 --> 00:21:35,760
Speaker 3: have are both Discover and Capital one cards.

479
00:21:35,640 --> 00:21:38,080
Speaker 1: Which are now essentially going to become the same institution.

480
00:21:38,680 --> 00:21:40,200
Speaker 1: We don't know how it's exactly going to shake you.

481
00:21:40,320 --> 00:21:43,080
Speaker 3: I think it's necessarily going to impact anyone's credit per se,

482
00:21:43,119 --> 00:21:45,280
Speaker 3: but I think more importantly it just raises the question

483
00:21:45,400 --> 00:21:47,800
Speaker 3: of just, oh, what kind of cards have you been using?

484
00:21:48,160 --> 00:21:50,160
Speaker 3: Have you been garnering the kind of benefit from those

485
00:21:50,200 --> 00:21:53,320
Speaker 3: cards as opposed to just not questioning it. I think

486
00:21:53,359 --> 00:21:55,120
Speaker 3: there are just some simple changes that you can make

487
00:21:55,560 --> 00:21:57,399
Speaker 3: that will allow you to give the most bang for

488
00:21:57,400 --> 00:21:57,960
Speaker 3: your buck, right.

489
00:21:58,240 --> 00:22:00,920
Speaker 1: I think one of those things is do I are

490
00:22:00,960 --> 00:22:02,919
Speaker 1: the only credit cards I have? Do they come from

491
00:22:03,000 --> 00:22:06,040
Speaker 1: one issuer? Because let's say you only use City cards, right, Well,

492
00:22:06,040 --> 00:22:08,320
Speaker 1: now you're like, well, man, City just did this thing

493
00:22:08,359 --> 00:22:11,199
Speaker 1: to my points and they're worthless. Man, I should have

494
00:22:11,200 --> 00:22:13,520
Speaker 1: been banking points with somebody else too, And the same

495
00:22:13,560 --> 00:22:16,280
Speaker 1: thing is true. If you only have Discover a Capital

496
00:22:16,320 --> 00:22:18,359
Speaker 1: one cards, you might want to say, oh, maybe I

497
00:22:18,359 --> 00:22:21,200
Speaker 1: should get a NAMEX card or a Chase card in addition,

498
00:22:21,400 --> 00:22:24,560
Speaker 1: so that I'm not wholly exposed to one credit card issue.

499
00:22:24,600 --> 00:22:26,119
Speaker 1: I think that would be a wise move for the

500
00:22:26,160 --> 00:22:29,040
Speaker 1: person that had money Facebook group that had that issue,

501
00:22:29,119 --> 00:22:31,439
Speaker 1: and for anybody else out there listening who has a

502
00:22:31,480 --> 00:22:32,320
Speaker 1: similar issue.

503
00:22:32,400 --> 00:22:34,399
Speaker 3: Yeah, but no, I don't want folks to hear me

504
00:22:34,440 --> 00:22:36,720
Speaker 3: say like throw some shade at Discover and say that

505
00:22:36,760 --> 00:22:38,840
Speaker 3: like we don't like Discover, Like they're a great company,

506
00:22:38,920 --> 00:22:40,040
Speaker 3: and specifically.

507
00:22:39,640 --> 00:22:41,480
Speaker 1: Both of those banks. So I'm curious state to see

508
00:22:41,520 --> 00:22:43,959
Speaker 1: what it looks like for them to merge, because they

509
00:22:44,000 --> 00:22:45,720
Speaker 1: don't even really fully know yet.

510
00:22:45,760 --> 00:22:48,719
Speaker 3: But right right, my longest standing credit card that I've

511
00:22:48,760 --> 00:22:50,600
Speaker 3: ever had, and I'm talking like twenty or twenty five

512
00:22:50,680 --> 00:22:53,400
Speaker 3: years is with Discover and recently Angel I was playing

513
00:22:53,400 --> 00:22:54,879
Speaker 3: with some tools with I don't know if it was

514
00:22:54,880 --> 00:22:56,560
Speaker 3: with one of the credit rors or with one of

515
00:22:56,600 --> 00:22:58,639
Speaker 3: the scores that are provided by one of the credit

516
00:22:58,640 --> 00:23:00,960
Speaker 3: card companies, but they've got like this estimator, and it's

517
00:23:01,000 --> 00:23:03,280
Speaker 3: just like, hey, what happens if you were to get

518
00:23:03,359 --> 00:23:04,800
Speaker 3: rid of this card, or were you to pay off

519
00:23:04,800 --> 00:23:07,040
Speaker 3: some reduce to the amount of spending or add in.

520
00:23:07,600 --> 00:23:09,639
Speaker 3: Of course they're wanting you to add a card next.

521
00:23:09,640 --> 00:23:11,720
Speaker 3: That way you can increase your overall amount. But I

522
00:23:11,800 --> 00:23:14,560
Speaker 3: was crazy shocked to see and this was just a simulator,

523
00:23:15,200 --> 00:23:17,399
Speaker 3: but I was really surprised to see that my longest

524
00:23:17,400 --> 00:23:19,320
Speaker 3: standing card where I had to nix, that they were

525
00:23:19,400 --> 00:23:21,320
Speaker 3: estimating that my score was only going to drop by

526
00:23:21,359 --> 00:23:23,600
Speaker 3: like two points, Wow, which I would have expected like

527
00:23:23,720 --> 00:23:24,440
Speaker 3: at least.

528
00:23:24,400 --> 00:23:26,880
Speaker 2: Ten times that at least like twenty points or something.

529
00:23:26,920 --> 00:23:28,920
Speaker 1: Yeah, but yeah, it's probably because you have so many

530
00:23:28,920 --> 00:23:30,560
Speaker 1: other credit cards you've had for a long time too,

531
00:23:30,680 --> 00:23:31,439
Speaker 1: maybe I guess so.

532
00:23:31,520 --> 00:23:34,000
Speaker 3: But even still in my mind that one Discover card

533
00:23:34,040 --> 00:23:35,640
Speaker 3: I'm like, oh, yeah, that's the one I've had since

534
00:23:35,840 --> 00:23:38,680
Speaker 3: discover Capital one, Discover since I've had that I've had

535
00:23:38,680 --> 00:23:40,359
Speaker 3: since I was a teenager.

536
00:23:40,560 --> 00:23:42,720
Speaker 2: But evidently you wouldn't be wouldn't.

537
00:23:42,400 --> 00:23:44,560
Speaker 3: Be that big of a disruptor to the overall credit score.

538
00:23:44,800 --> 00:23:45,920
Speaker 3: Just take that with a grain of salt, though.

539
00:23:46,080 --> 00:23:49,600
Speaker 1: Very interesting. Yeah, all right, let's talk housing, Matt. There's

540
00:23:49,680 --> 00:23:54,040
Speaker 1: a recent Redfin report and it highlighted just how much

541
00:23:54,080 --> 00:23:57,000
Speaker 1: more expensive it it is to buy a home than

542
00:23:57,040 --> 00:23:58,600
Speaker 1: it is to rent these days. And this is something

543
00:23:58,640 --> 00:24:01,679
Speaker 1: that we've been documenting over the past few years, in

544
00:24:01,680 --> 00:24:05,320
Speaker 1: particular as housing prices have just gone through the roof.

545
00:24:05,760 --> 00:24:09,119
Speaker 1: But it's fascinating. I love seeing the data, Like, Okay,

546
00:24:09,119 --> 00:24:12,080
Speaker 1: how bad is it actually? Well, buying a home now

547
00:24:12,200 --> 00:24:17,760
Speaker 1: requires fifty thousand dollars more in salary than renting. So essentially,

548
00:24:17,880 --> 00:24:20,919
Speaker 1: you need an annual income of around one hundred and

549
00:24:20,920 --> 00:24:23,960
Speaker 1: sixteen thousand dollars to afford a mid priced home. That's

550
00:24:24,040 --> 00:24:27,480
Speaker 1: roughly eighty two percent more than the sixty four thousand

551
00:24:27,560 --> 00:24:29,720
Speaker 1: dollars you'd need to be able to afford a mid

552
00:24:29,800 --> 00:24:32,919
Speaker 1: price department. Quite the disparity, dramatic difference, right, and a

553
00:24:32,920 --> 00:24:36,040
Speaker 1: bank Rade study also found that is cheaper to rent

554
00:24:36,080 --> 00:24:39,119
Speaker 1: than buy in all fifty of the largest metro areas,

555
00:24:39,119 --> 00:24:42,280
Speaker 1: So there's like not one metro area they found of

556
00:24:42,320 --> 00:24:45,399
Speaker 1: the largest ones where it would be cheaper for you

557
00:24:45,520 --> 00:24:47,680
Speaker 1: to buy than rent, and that was not the case

558
00:24:47,760 --> 00:24:50,080
Speaker 1: ten years ago. That was not the case ten years ago,

559
00:24:50,400 --> 00:24:52,320
Speaker 1: which makes renting look pretty good, makes it look a

560
00:24:52,359 --> 00:24:55,040
Speaker 1: whole lot better than it did a decade ago, and

561
00:24:55,440 --> 00:24:57,679
Speaker 1: more folks who would have bought a home in the past,

562
00:24:57,960 --> 00:25:01,600
Speaker 1: they're just kind of getting zen with renting. Rich households

563
00:25:01,600 --> 00:25:04,960
Speaker 1: in particular, they're choosing to rent more than ever. This

564
00:25:05,080 --> 00:25:07,679
Speaker 1: was according to rent Cafe. You and I, we own

565
00:25:07,760 --> 00:25:09,960
Speaker 1: our homes. We're happy with our choice. We're also real

566
00:25:10,080 --> 00:25:14,480
Speaker 1: estate investors. But the case are renting, especially in today's economy,

567
00:25:14,880 --> 00:25:17,680
Speaker 1: is a strong one. And the old adage that you're

568
00:25:17,720 --> 00:25:20,879
Speaker 1: just throwing away money, it's just not true. That is

569
00:25:20,920 --> 00:25:23,280
Speaker 1: like one of those ingrained beliefs for a lot of people,

570
00:25:23,520 --> 00:25:26,040
Speaker 1: renting equals throwing away money. And if there's one thing

571
00:25:26,040 --> 00:25:29,160
Speaker 1: that we can say, like we're not telling any individual

572
00:25:29,200 --> 00:25:31,040
Speaker 1: renting is right for you or buying is right for you,

573
00:25:31,359 --> 00:25:34,480
Speaker 1: it can be very circumstantial, but I just want to

574
00:25:34,880 --> 00:25:39,200
Speaker 1: dispel the notion that people instinctively feel about renting being

575
00:25:39,400 --> 00:25:42,040
Speaker 1: a really dumb financial move. That's just not true, and

576
00:25:42,080 --> 00:25:43,720
Speaker 1: it's especially not true right now.

577
00:25:43,800 --> 00:25:45,040
Speaker 2: Yeah, it's definitely not true.

578
00:25:45,119 --> 00:25:47,120
Speaker 3: Like, it's not true that you have to be oh,

579
00:25:47,280 --> 00:25:49,400
Speaker 3: if you are renting an apartment you're broke, because there's

580
00:25:49,400 --> 00:25:52,480
Speaker 3: actually been a rise in millionaire renters and there's a

581
00:25:52,520 --> 00:25:54,720
Speaker 3: reason for that, right Yeah. So this is another article

582
00:25:54,760 --> 00:25:57,320
Speaker 3: we came across this week. We're seeing more luxury rentals

583
00:25:57,320 --> 00:26:00,760
Speaker 3: that offer these fancy amenities, drawing in folks who have

584
00:26:00,880 --> 00:26:04,119
Speaker 3: high net worths who are renting. That coupled with the

585
00:26:04,160 --> 00:26:06,760
Speaker 3: flexibility and the convenience that renting offers, as well as

586
00:26:06,760 --> 00:26:08,240
Speaker 3: the fact that you don't have to save up a

587
00:26:08,240 --> 00:26:11,200
Speaker 3: massive down payment, dude, this means you can invest more

588
00:26:11,400 --> 00:26:14,080
Speaker 3: in the overall sod market instead of funneling it towards

589
00:26:14,440 --> 00:26:17,360
Speaker 3: higher housing costs as well as maintenance and repairs that

590
00:26:17,720 --> 00:26:23,160
Speaker 3: are oftentimes vastly underrated, underestimated, undersaved for. But a lot

591
00:26:23,200 --> 00:26:25,760
Speaker 3: of intentional renters and that's the key part, man, You

592
00:26:25,800 --> 00:26:28,920
Speaker 3: got to be intentional about this. You can achieve greater

593
00:26:29,040 --> 00:26:32,760
Speaker 3: levels of financial success than your home owning peers by

594
00:26:32,800 --> 00:26:35,399
Speaker 3: pouring money into the market as opposed to pouring money

595
00:26:35,440 --> 00:26:36,600
Speaker 3: into your housing.

596
00:26:36,560 --> 00:26:37,080
Speaker 2: Owning a home.

597
00:26:37,119 --> 00:26:38,679
Speaker 3: It can certainly be a great goal, but it's just

598
00:26:38,760 --> 00:26:41,560
Speaker 3: not for everyone out there, and honestly, on the flip side,

599
00:26:41,600 --> 00:26:44,240
Speaker 3: it's not a guaranteed thing to continue. We're actually seeing

600
00:26:44,280 --> 00:26:46,280
Speaker 3: signs of softening in the.

601
00:26:46,240 --> 00:26:47,159
Speaker 2: Real estate market.

602
00:26:47,480 --> 00:26:49,679
Speaker 3: The big real estate sites, they've been predicting a housing

603
00:26:49,720 --> 00:26:52,520
Speaker 3: market swoon, which actually seems to be materializing.

604
00:26:52,960 --> 00:26:55,000
Speaker 2: So if you're a hopeful buyer, this is actually good

605
00:26:55,000 --> 00:26:55,680
Speaker 2: news out there.

606
00:26:55,680 --> 00:27:01,000
Speaker 3: A small little anecdote, Jal just received my property tax

607
00:27:01,040 --> 00:27:04,920
Speaker 3: bill assessment and I opened it expecting the worst, which

608
00:27:05,000 --> 00:27:06,520
Speaker 3: I mean, let's be honest, over the past few years,

609
00:27:06,520 --> 00:27:10,080
Speaker 3: we've only seen increased housing prices increase, which means paying

610
00:27:10,119 --> 00:27:12,200
Speaker 3: more to when it comes to property taxes.

611
00:27:12,359 --> 00:27:15,440
Speaker 4: And I did a little whoo because I saw our

612
00:27:15,440 --> 00:27:19,280
Speaker 4: home value actually decrease. So nice, which I'm sure there's

613
00:27:19,280 --> 00:27:21,520
Speaker 4: a lot of folks might who are listening and they're

614
00:27:21,560 --> 00:27:24,320
Speaker 4: just like, wait, Matt's taking crazy pills, Like what is

615
00:27:24,320 --> 00:27:27,080
Speaker 4: going on? But when you see an increase in the

616
00:27:27,160 --> 00:27:29,560
Speaker 4: what the city estimates your property to be, like, these

617
00:27:29,560 --> 00:27:31,800
Speaker 4: are just paper gains right like this, that is not

618
00:27:32,000 --> 00:27:34,840
Speaker 4: an increase that you get to realize until it comes

619
00:27:34,880 --> 00:27:36,919
Speaker 4: time for you to sell your house or unless you're

620
00:27:36,920 --> 00:27:38,720
Speaker 4: trying to pull some equity out of your home. But

621
00:27:38,760 --> 00:27:41,239
Speaker 4: guess what you realize on a on a month by

622
00:27:41,280 --> 00:27:44,240
Speaker 4: month basis the amount going towards ESCO in order to

623
00:27:44,240 --> 00:27:45,560
Speaker 4: save up for your tax bill.

624
00:27:45,920 --> 00:27:48,960
Speaker 1: So this is again is a silver lining for It's a.

625
00:27:48,880 --> 00:27:51,360
Speaker 3: Small silver lining, and this is anecdotal, but we are

626
00:27:51,359 --> 00:27:53,800
Speaker 3: seeing this in more metros across the country.

627
00:27:53,880 --> 00:27:57,040
Speaker 1: I was just talking to my sister who is moving

628
00:27:57,080 --> 00:28:00,000
Speaker 1: to another city, and she was there looking at place

629
00:28:00,160 --> 00:28:02,600
Speaker 1: is to rent. They've been renters, they're happy being renters,

630
00:28:03,080 --> 00:28:05,679
Speaker 1: and there was a condo that they actually ended up

631
00:28:05,680 --> 00:28:08,359
Speaker 1: settling on, and the price that they're paying for the

632
00:28:08,400 --> 00:28:12,920
Speaker 1: condo was like a lot less than what they would

633
00:28:12,960 --> 00:28:16,760
Speaker 1: pay to buy a similar sized unit in that complex.

634
00:28:17,080 --> 00:28:19,760
Speaker 1: So it's just fascinating to see the person who's renting

635
00:28:19,760 --> 00:28:21,399
Speaker 1: it out they bought it not that long ago, and

636
00:28:21,480 --> 00:28:23,919
Speaker 1: I'm like, they're going to be losing money every single

637
00:28:23,920 --> 00:28:26,040
Speaker 1: month by renting this apartment to them. They must have

638
00:28:26,040 --> 00:28:30,359
Speaker 1: no other choice. It's just interesting that renters can make

639
00:28:30,400 --> 00:28:32,440
Speaker 1: out like bandits here so I don't even know what

640
00:28:32,480 --> 00:28:34,560
Speaker 1: the hoafee would be, but like that's included in the

641
00:28:34,600 --> 00:28:37,560
Speaker 1: rent that they pay, So there's like substantial savings to

642
00:28:37,560 --> 00:28:39,240
Speaker 1: be a renter, and then they can do a lot

643
00:28:39,240 --> 00:28:42,280
Speaker 1: with that excess cash, right, do smart stuff with that money,

644
00:28:42,560 --> 00:28:45,560
Speaker 1: investing for their future instead of putting more and more money.

645
00:28:45,760 --> 00:28:48,520
Speaker 1: Because what buying is the only way you build, you know,

646
00:28:48,560 --> 00:28:50,880
Speaker 1: you build a high net worth. Well that's just not true,

647
00:28:50,920 --> 00:28:54,480
Speaker 1: and it's less true than it was ten years ago too.

648
00:28:54,760 --> 00:28:57,440
Speaker 1: Like buying a house can make sense based on your

649
00:28:57,560 --> 00:29:01,200
Speaker 1: specific circumstances, your specific goals, but you just have to

650
00:29:01,360 --> 00:29:02,800
Speaker 1: run the numbers and you have to know the trade

651
00:29:02,800 --> 00:29:06,320
Speaker 1: offs because for most people right now, continuing to rent

652
00:29:06,440 --> 00:29:07,640
Speaker 1: can make a lot of financial sense.

653
00:29:07,720 --> 00:29:09,520
Speaker 3: Yeah, I do think though the trick is being intentional

654
00:29:09,520 --> 00:29:12,320
Speaker 3: about it. And folks who by defaults have kept their

655
00:29:12,360 --> 00:29:15,120
Speaker 3: savings rate pretty minimal, whether it's just you know, a

656
00:29:15,120 --> 00:29:17,880
Speaker 3: four one k at work or investing in addition to

657
00:29:17,920 --> 00:29:20,880
Speaker 3: what it is that their workplace is offering, realizing that

658
00:29:20,920 --> 00:29:23,040
Speaker 3: they don't have a default amount going towards the building

659
00:29:23,120 --> 00:29:24,880
Speaker 3: up of home quite right, Like there's almost there's like

660
00:29:24,920 --> 00:29:27,080
Speaker 3: a mental switch that maybe has been taking place right

661
00:29:27,200 --> 00:29:29,880
Speaker 3: just with the given the democratization of investing, the ability

662
00:29:29,880 --> 00:29:31,480
Speaker 3: for folks to do that more on their own, on

663
00:29:31,520 --> 00:29:34,000
Speaker 3: their own terms, where it feels a little more accessible

664
00:29:34,000 --> 00:29:36,280
Speaker 3: as opposed to it feeling like something that was kind

665
00:29:36,320 --> 00:29:38,760
Speaker 3: of out of their reach. When it's like the things

666
00:29:38,760 --> 00:29:41,040
Speaker 3: have switched essentially right, Like like back in the day,

667
00:29:41,080 --> 00:29:43,320
Speaker 3: it felt like home ownership was a bit more attainable,

668
00:29:43,360 --> 00:29:46,880
Speaker 3: and investing aggressively in the market felt like something that

669
00:29:46,880 --> 00:29:48,880
Speaker 3: that really only the one percent did. But now it's

670
00:29:48,880 --> 00:29:51,160
Speaker 3: almost like the opposite where where it's like, oh no, no,

671
00:29:51,240 --> 00:29:54,080
Speaker 3: everybody can invest, even just with like the spare change

672
00:29:54,080 --> 00:29:55,880
Speaker 3: in your in your pocket, but you bought.

673
00:29:55,680 --> 00:29:58,960
Speaker 1: A home, like exactly must be independently will do that, Yeah,

674
00:29:59,000 --> 00:30:00,640
Speaker 1: exactly so. But I do think think that those tides

675
00:30:00,640 --> 00:30:02,920
Speaker 1: are going to turn. This isn't this disparity will not

676
00:30:03,120 --> 00:30:03,760
Speaker 1: last forever.

677
00:30:03,960 --> 00:30:05,760
Speaker 2: I totally agree. Yeah, I don't think this is a

678
00:30:05,800 --> 00:30:07,240
Speaker 2: permanent change, Joe.

679
00:30:07,280 --> 00:30:09,880
Speaker 3: While we're talking about housing, we are certainly fans of

680
00:30:10,160 --> 00:30:13,520
Speaker 3: using Airbnb while you're traveling, but there are other ways

681
00:30:13,640 --> 00:30:15,640
Speaker 3: to get a cool place when you are taking a

682
00:30:15,640 --> 00:30:18,040
Speaker 3: big trip, and that is by partaking in a house

683
00:30:18,040 --> 00:30:23,040
Speaker 3: swap I'll the holiday with Jack Black and oh yeah.

684
00:30:25,800 --> 00:30:27,680
Speaker 1: This is for some reason making me think of I

685
00:30:27,680 --> 00:30:30,040
Speaker 1: think it was a Fox TV show wife swap, which

686
00:30:30,280 --> 00:30:32,520
Speaker 1: one mom would go to another house and vice versa,

687
00:30:32,600 --> 00:30:35,120
Speaker 1: and then you would see how the family acted, and uh,

688
00:30:35,120 --> 00:30:36,640
Speaker 1: that's reality TV at its finest.

689
00:30:37,720 --> 00:30:39,440
Speaker 2: Sounds like it was one of your favorites that you're

690
00:30:39,440 --> 00:30:39,920
Speaker 2: t voing.

691
00:30:40,160 --> 00:30:44,040
Speaker 1: I can't describe it accurately, but just go look up

692
00:30:44,120 --> 00:30:46,400
Speaker 1: King Curtis on YouTube. I think that it's one of

693
00:30:46,480 --> 00:30:50,360
Speaker 1: my favorite clips from television history. Is that an actual

694
00:30:50,440 --> 00:30:53,040
Speaker 1: I think it was from white Swap and this young

695
00:30:53,120 --> 00:30:55,680
Speaker 1: kid did not like the new mom was in the

696
00:30:55,760 --> 00:30:59,240
Speaker 1: South that week, and the way you reacted was television gold.

697
00:30:59,560 --> 00:31:00,560
Speaker 2: I might have to look it up.

698
00:31:01,120 --> 00:31:03,880
Speaker 3: But we're talking about house swapping. Yeah, not why swapping.

699
00:31:04,720 --> 00:31:07,920
Speaker 3: These platforms are growing as a way to allow folks

700
00:31:08,000 --> 00:31:10,680
Speaker 3: to travel for less. So obviously instead of buying nights,

701
00:31:10,760 --> 00:31:13,520
Speaker 3: you are essentially bartering your exchanging nights at your own

702
00:31:13,520 --> 00:31:16,400
Speaker 3: place and the different sites out there. Of course you

703
00:31:16,480 --> 00:31:19,520
Speaker 3: got them kind of hip sounding ones like Kindred, which

704
00:31:19,600 --> 00:31:22,720
Speaker 3: sounds super bouge what I was reading about that one.

705
00:31:23,000 --> 00:31:26,400
Speaker 3: But swap house is one home exchange that's another one

706
00:31:26,520 --> 00:31:28,960
Speaker 3: these platforms. These sites, they allow you to offer your

707
00:31:29,000 --> 00:31:31,080
Speaker 3: place up when you are out of town to earn

708
00:31:31,200 --> 00:31:33,120
Speaker 3: nights that you can use on the platform in the future.

709
00:31:33,440 --> 00:31:35,240
Speaker 3: On one hand, I don't like it, Joel, because it

710
00:31:35,400 --> 00:31:38,760
Speaker 3: is an inefficient exchange of value, right, like it's an

711
00:31:38,760 --> 00:31:41,720
Speaker 3: inefficient market. It kind of makes me think of gift cards,

712
00:31:41,720 --> 00:31:44,160
Speaker 3: like why would you do this intermediary sort of step.

713
00:31:44,160 --> 00:31:47,280
Speaker 3: It makes me think of timeshares almost right, like like

714
00:31:47,320 --> 00:31:49,960
Speaker 3: you are handcuffed to this thing. But I do think

715
00:31:49,960 --> 00:31:53,240
Speaker 3: it makes more sense in different markets where they're starting

716
00:31:53,280 --> 00:31:56,240
Speaker 3: to crack down more on airbnbs, where they're imposing more

717
00:31:56,280 --> 00:31:58,520
Speaker 3: strict regulations like up in New York City.

718
00:31:59,040 --> 00:32:01,520
Speaker 1: Spain even banned them all together, didn't they.

719
00:32:01,560 --> 00:32:03,240
Speaker 3: I don't know if they band them all completely outright,

720
00:32:03,240 --> 00:32:05,880
Speaker 3: but they are really cracking down because they're winning because

721
00:32:06,040 --> 00:32:07,920
Speaker 3: and I get it, like these towns they're starting to

722
00:32:07,960 --> 00:32:09,760
Speaker 3: lose the charm that made them what they wear when

723
00:32:09,800 --> 00:32:13,080
Speaker 3: they're just inundated by tours. And so from that standpoint,

724
00:32:13,320 --> 00:32:15,560
Speaker 3: it makes sense as a creative workaround.

725
00:32:15,720 --> 00:32:17,200
Speaker 2: But I don't know, Man, the.

726
00:32:17,200 --> 00:32:20,960
Speaker 3: Dollar cash, the universal exchange store of value, the ability to.

727
00:32:21,680 --> 00:32:23,920
Speaker 1: Use that I'm still more of a fan of I

728
00:32:23,960 --> 00:32:26,479
Speaker 1: don't know. Still I like bartering renting. I like barnering,

729
00:32:26,480 --> 00:32:28,600
Speaker 1: so I like the way these sites, what these sites

730
00:32:28,880 --> 00:32:31,200
Speaker 1: are trying to do. And one of the other things

731
00:32:31,200 --> 00:32:34,280
Speaker 1: that they note on there is that they're not reducing

732
00:32:34,400 --> 00:32:39,000
Speaker 1: housing supply in local places because you're just swapping, right,

733
00:32:39,040 --> 00:32:42,080
Speaker 1: and so there isn't like this unit that's being taken

734
00:32:42,080 --> 00:32:46,360
Speaker 1: offline to be fully dedicated to full time short rental use,

735
00:32:46,640 --> 00:32:48,920
Speaker 1: which is interesting. But there are other sites too. Met

736
00:32:49,200 --> 00:32:51,840
Speaker 1: maybe think of this one called Trusted House Sitters, which

737
00:32:52,240 --> 00:32:53,959
Speaker 1: has been around for a long time too. Yeh, go

738
00:32:54,000 --> 00:32:56,200
Speaker 1: walk a dog, right, Yeah, Like, if you're a pet

739
00:32:56,240 --> 00:32:58,920
Speaker 1: lover and you don't necessarily want to give up your home,

740
00:32:58,960 --> 00:33:02,040
Speaker 1: you can just go stay at somebody's home for free

741
00:33:02,200 --> 00:33:04,920
Speaker 1: if you agree to take care of their pets. I

742
00:33:05,040 --> 00:33:07,360
Speaker 1: have done this before, not on not via this website,

743
00:33:07,360 --> 00:33:09,520
Speaker 1: but I remember doing this, like when I was a

744
00:33:09,520 --> 00:33:12,160
Speaker 1: pretty young fella for a family when they were out

745
00:33:12,160 --> 00:33:15,480
Speaker 1: of town their rabbit died. I felt really bad about it.

746
00:33:15,520 --> 00:33:18,880
Speaker 1: I didn't get paid afterwards, but so yeah, yeah, make

747
00:33:18,880 --> 00:33:21,000
Speaker 1: sure check your home insurance to make sure you're covered

748
00:33:21,040 --> 00:33:23,080
Speaker 1: before you do a home swap like this, but those

749
00:33:23,120 --> 00:33:26,240
Speaker 1: sites can be a cool way to maybe like help

750
00:33:26,280 --> 00:33:28,840
Speaker 1: you find an interesting location you weren't planning on visiting,

751
00:33:29,360 --> 00:33:33,680
Speaker 1: or to find a free or cheap way to go

752
00:33:33,720 --> 00:33:37,840
Speaker 1: abroad while keeping your budget like within reason. Right when

753
00:33:37,880 --> 00:33:40,880
Speaker 1: at this point it feels like airfare is one of

754
00:33:40,960 --> 00:33:45,280
Speaker 1: the is less obtrusive, less of a cost, then where

755
00:33:45,280 --> 00:33:47,000
Speaker 1: are you going to stay? Like that's a more that's

756
00:33:47,040 --> 00:33:48,640
Speaker 1: the biggest cost now of most trips.

757
00:33:48,680 --> 00:33:49,600
Speaker 2: I think, Yeah, man, I like it.

758
00:33:49,640 --> 00:33:51,440
Speaker 1: All right, Maddie, that's gonna do it. For this episode,

759
00:33:51,480 --> 00:33:54,160
Speaker 1: we will link to some of the resources we mentioned

760
00:33:54,240 --> 00:33:56,520
Speaker 1: in the show notes up on our website at how

761
00:33:56,560 --> 00:34:00,360
Speaker 1: toomoney dot com. But until next time, best Friends Out,

762
00:34:00,480 --> 00:34:01,720
Speaker 1: Best Friends Out,