1 00:00:00,080 --> 00:00:02,880 Speaker 1: Welcome to How the Money. I'm Joel and I and Matt. 2 00:00:03,040 --> 00:00:07,400 Speaker 1: Today we're discussing teenage fire AI credit scores and a 3 00:00:07,440 --> 00:00:29,400 Speaker 1: new reason to hate gift cards. That's right, Joel. This 4 00:00:29,480 --> 00:00:31,680 Speaker 1: is our Friday Flight episode where we're going to tackle 5 00:00:31,760 --> 00:00:34,240 Speaker 1: some different headlines and different stories that we came across 6 00:00:34,280 --> 00:00:37,680 Speaker 1: this week, specifically how they're going to affect your money. 7 00:00:38,159 --> 00:00:41,960 Speaker 1: But first your cash and your wallets. Right, but your 8 00:00:41,960 --> 00:00:44,879 Speaker 1: nose is looking a little red Man's like right over here, 9 00:00:44,880 --> 00:00:47,080 Speaker 1: and you're kind of cool outside. Yeah, it's a little nivvy. 10 00:00:47,520 --> 00:00:49,920 Speaker 1: So yeah, on that note, there's this there's this one 11 00:00:50,000 --> 00:00:52,519 Speaker 1: thing I think when it comes to how people can 12 00:00:52,560 --> 00:00:55,560 Speaker 1: stay warm when they're biking this winter, because unfortunately in 13 00:00:55,600 --> 00:00:59,320 Speaker 1: Atlanta it doesn't get ridiculously cold, Like I can't imagine 14 00:00:59,360 --> 00:01:03,040 Speaker 1: living in the Twin Cities and biking every single day, 15 00:01:03,280 --> 00:01:05,200 Speaker 1: and I'm sure to get used to it, but at 16 00:01:05,280 --> 00:01:07,920 Speaker 1: least it's painful. Yeah, that's that cold. As a Southerner, 17 00:01:08,040 --> 00:01:11,160 Speaker 1: it doesn't sound appealing, but it gets cold enough done here. 18 00:01:11,240 --> 00:01:13,160 Speaker 1: I mean, when you're riding, you've got the regular temperature, 19 00:01:13,160 --> 00:01:14,959 Speaker 1: but then when the faster you go, the worst that 20 00:01:15,000 --> 00:01:16,720 Speaker 1: it gets, you know, like that that wind chill gets 21 00:01:16,760 --> 00:01:19,760 Speaker 1: kicking and all of a sudden you're noses exactly. But 22 00:01:19,959 --> 00:01:23,320 Speaker 1: I think if you're looking for like literally one item 23 00:01:23,319 --> 00:01:28,039 Speaker 1: worth purchasing, that makes a big difference in how warm 24 00:01:28,040 --> 00:01:30,959 Speaker 1: you feel when you're biking. Obviously, a nice jacket is helpful, 25 00:01:31,240 --> 00:01:34,200 Speaker 1: like don't wear short socks. I have long socks. But 26 00:01:34,240 --> 00:01:36,759 Speaker 1: if there's like one one item that maybe most people 27 00:01:36,800 --> 00:01:39,640 Speaker 1: don't think about, it's a bala clava. You know what 28 00:01:39,640 --> 00:01:44,200 Speaker 1: those are? Sounds Rushian. So it's basically the things they 29 00:01:44,200 --> 00:01:45,760 Speaker 1: pull all the way over your head and they go 30 00:01:46,160 --> 00:01:48,680 Speaker 1: they warm your neck, they warm the uncle of your head, 31 00:01:48,760 --> 00:01:51,960 Speaker 1: the uncle from what's this what's the Chevy Chase and 32 00:01:52,360 --> 00:01:57,200 Speaker 1: Lampain's Christmas? I don't know that. Yeah, like that's not 33 00:01:57,280 --> 00:01:59,320 Speaker 1: the leathern sick. I feel like I'm missing out. I 34 00:01:59,360 --> 00:02:01,600 Speaker 1: think that's also maybe called a boba clava, but maybe 35 00:02:01,760 --> 00:02:03,160 Speaker 1: it's not what you're talking about it, right, I know 36 00:02:03,200 --> 00:02:05,320 Speaker 1: you're talking. You're talking about more like the athletic version 37 00:02:05,360 --> 00:02:07,320 Speaker 1: that goes over your entire head exactly. So what we're 38 00:02:07,320 --> 00:02:08,480 Speaker 1: supposed to a link to one of the surants, but 39 00:02:08,520 --> 00:02:09,880 Speaker 1: I was looking on Amazon just to see what they 40 00:02:09,919 --> 00:02:11,639 Speaker 1: go for and you can get one for seven bucks, 41 00:02:11,720 --> 00:02:14,280 Speaker 1: And I was like, that is a well spent seven 42 00:02:14,280 --> 00:02:16,080 Speaker 1: dollars if it keeps you on your bike more during 43 00:02:16,080 --> 00:02:19,120 Speaker 1: this winter, and it'll cover you, know, your mouth if 44 00:02:19,120 --> 00:02:20,600 Speaker 1: you want. I hate it covering my mouth. I feel 45 00:02:20,600 --> 00:02:23,400 Speaker 1: like I can't breathe as well. But you can cover 46 00:02:23,680 --> 00:02:26,239 Speaker 1: your mouth and nose. It goes um just kind of 47 00:02:26,600 --> 00:02:29,000 Speaker 1: down below your hairline. And it's one of those things 48 00:02:29,040 --> 00:02:31,120 Speaker 1: where it's like, for seven bucks, if it's gonna keep 49 00:02:31,120 --> 00:02:32,600 Speaker 1: you on your bike, make it happen. Yeah, I was 50 00:02:32,600 --> 00:02:34,840 Speaker 1: gonna say gloves because for me, that's the number one 51 00:02:34,880 --> 00:02:37,079 Speaker 1: thing that keeps me biking throughout the winter because I 52 00:02:37,120 --> 00:02:38,679 Speaker 1: don't care if my face gets a little bit cold, 53 00:02:38,680 --> 00:02:41,160 Speaker 1: I just zip the my jacket up a little bit higher. 54 00:02:41,200 --> 00:02:44,280 Speaker 1: But having your dude, your hands, that's that's your connection 55 00:02:44,320 --> 00:02:46,040 Speaker 1: to the bike, and you got to make sure that 56 00:02:46,080 --> 00:02:48,280 Speaker 1: you have a good uh solid grip, that you've been 57 00:02:48,280 --> 00:02:50,240 Speaker 1: showing the gears that you can hit the brakes. Definitely 58 00:02:50,240 --> 00:02:52,520 Speaker 1: wearing gloves too, of course that goes a long way. 59 00:02:52,639 --> 00:02:54,040 Speaker 1: But for me, I don't think I can put anything 60 00:02:54,040 --> 00:02:56,320 Speaker 1: else over my head to get under my helmet because 61 00:02:56,440 --> 00:02:58,760 Speaker 1: as I've grown my hair outs over the past year. 62 00:02:59,040 --> 00:03:00,880 Speaker 1: My helmet it barely it fits now and I kind 63 00:03:00,880 --> 00:03:03,320 Speaker 1: of have to wiggle it on there. But we'll see 64 00:03:03,320 --> 00:03:05,480 Speaker 1: how long this long hair lasts. Anyway, let me know 65 00:03:05,520 --> 00:03:06,640 Speaker 1: if you need me to give you a trim to, 66 00:03:06,720 --> 00:03:08,520 Speaker 1: I can make that happen. I think you do a 67 00:03:08,520 --> 00:03:11,200 Speaker 1: good job. All right, We'll let trust you. Let's move on. 68 00:03:11,280 --> 00:03:12,959 Speaker 1: Let's get to the Friday flight and the stories we 69 00:03:13,040 --> 00:03:16,359 Speaker 1: found interesting this week. First up, Matt, is that teenage 70 00:03:16,520 --> 00:03:19,040 Speaker 1: fire story. There was an article in the New York 71 00:03:19,040 --> 00:03:21,400 Speaker 1: Post and it was a fire crowd just keeps getting 72 00:03:21,440 --> 00:03:24,720 Speaker 1: younger and younger, apparently like the fire is spreading to 73 00:03:25,000 --> 00:03:27,440 Speaker 1: the youth, and it was it was a fun read. 74 00:03:27,520 --> 00:03:30,560 Speaker 1: There's this like ten year old entrepreneur named Pixie Curtis, 75 00:03:30,600 --> 00:03:33,160 Speaker 1: which I thought was a great name too. And apparently 76 00:03:33,720 --> 00:03:36,280 Speaker 1: she can retire at a fifteen if she wants to. 77 00:03:36,560 --> 00:03:38,960 Speaker 1: That's at least according to our mom. So yeah, the 78 00:03:39,000 --> 00:03:41,960 Speaker 1: fire movement continues to get reeler. And you know what, 79 00:03:42,160 --> 00:03:44,240 Speaker 1: It's funny, so many people who pursue fire end up 80 00:03:44,240 --> 00:03:46,400 Speaker 1: blogging your podcasting about it too. So I can't wait 81 00:03:46,400 --> 00:03:49,000 Speaker 1: for Pixies podcast to Uh, I'm looking forward to her 82 00:03:49,080 --> 00:03:53,200 Speaker 1: memoir when she hits twenty the life I've lived, Yes, 83 00:03:53,280 --> 00:03:56,400 Speaker 1: it's gonna be fun. Really, wait, what, you're twenty years old? 84 00:03:56,400 --> 00:03:57,760 Speaker 1: But what has she done I guess to get to 85 00:03:57,760 --> 00:04:01,120 Speaker 1: this point. While she started a successful toy accessory business. 86 00:04:01,120 --> 00:04:04,000 Speaker 1: She sold over two thousand dollars with the product, the 87 00:04:04,040 --> 00:04:06,800 Speaker 1: first one that she was even in business, which is cool, 88 00:04:07,080 --> 00:04:09,840 Speaker 1: and her mom talked about how proud she is of 89 00:04:09,880 --> 00:04:13,560 Speaker 1: her daughter's entrepreneurial spirit. Of course, that's awesome and worth celebrating. 90 00:04:14,240 --> 00:04:16,000 Speaker 1: What a wonderful thing. I would say, to help your 91 00:04:16,040 --> 00:04:18,200 Speaker 1: kids see the power of starting a business early on, 92 00:04:18,520 --> 00:04:21,320 Speaker 1: I think that's a perfect age, like age ten, eleven, twelve, 93 00:04:21,400 --> 00:04:24,240 Speaker 1: to help your kids start a business, to see that 94 00:04:24,640 --> 00:04:27,400 Speaker 1: there are so many options out there for you in 95 00:04:27,440 --> 00:04:29,440 Speaker 1: this world to serve other people and then to make 96 00:04:29,480 --> 00:04:32,159 Speaker 1: money doing it. My guess is, Matt the Pixie is 97 00:04:32,200 --> 00:04:35,440 Speaker 1: not actually going to retire at age fifteen, because what 98 00:04:35,480 --> 00:04:37,680 Speaker 1: do you do when when your friends are in high school? 99 00:04:38,040 --> 00:04:41,560 Speaker 1: And that sounds kind of boring, but and I would say, 100 00:04:41,560 --> 00:04:43,719 Speaker 1: half the fun of business ownership is building something cool 101 00:04:44,120 --> 00:04:47,560 Speaker 1: that and the creativity that comes alongside of it, So 102 00:04:47,880 --> 00:04:50,599 Speaker 1: that's part of the problem. We have consistently said what 103 00:04:50,600 --> 00:04:53,520 Speaker 1: the fire movement is that what's the fun and actually 104 00:04:53,600 --> 00:04:56,279 Speaker 1: retiring um, And there's definitely not much fun I would 105 00:04:56,320 --> 00:04:58,080 Speaker 1: say about retiring at the age of fifteen. Yeah, I 106 00:04:58,120 --> 00:05:01,120 Speaker 1: mean starting a business, entrepreneurship you think, I mean obviously 107 00:05:01,320 --> 00:05:03,039 Speaker 1: a lot of folks aren't going to be able to 108 00:05:03,080 --> 00:05:06,359 Speaker 1: immediately hit fire in five years after starting a business. 109 00:05:06,760 --> 00:05:09,280 Speaker 1: But especially for kids, I think being able to learn 110 00:05:09,320 --> 00:05:12,560 Speaker 1: some of these lessons this early on is huge. Like 111 00:05:12,600 --> 00:05:15,440 Speaker 1: I see two major lessons that kids can learn by 112 00:05:15,520 --> 00:05:17,599 Speaker 1: doing something like this. First of all, like hard work 113 00:05:18,000 --> 00:05:20,480 Speaker 1: uh and the ability to earn money. That is such 114 00:05:20,600 --> 00:05:23,279 Speaker 1: a basic but but not not basic like in a 115 00:05:23,320 --> 00:05:25,640 Speaker 1: simple way, but like a foundational Everything else needs to 116 00:05:25,680 --> 00:05:28,320 Speaker 1: kind of be built upon this idea that if you 117 00:05:28,320 --> 00:05:30,719 Speaker 1: don't work, if you do not find some way to 118 00:05:30,760 --> 00:05:33,719 Speaker 1: contribute to society, you don't get uh. And that is 119 00:05:33,760 --> 00:05:35,760 Speaker 1: a lesson that obviously you want your kids to learn. 120 00:05:35,760 --> 00:05:37,880 Speaker 1: You want them to be productive, not not not only 121 00:05:37,880 --> 00:05:40,880 Speaker 1: teenagers but adults. That's my first lesson. The second lesson though, 122 00:05:40,960 --> 00:05:43,800 Speaker 1: is the autonomy, uh, the ability for a kid that 123 00:05:43,880 --> 00:05:46,400 Speaker 1: young to learn that you don't have to necessarily go 124 00:05:46,480 --> 00:05:49,840 Speaker 1: down this path that's set before you of working for 125 00:05:50,680 --> 00:05:53,520 Speaker 1: forty years whatever in a job that you don't necessarily love. 126 00:05:53,880 --> 00:05:56,960 Speaker 1: The ability to have agency and make changes to your life, 127 00:05:57,000 --> 00:05:59,360 Speaker 1: I think are massive, And I think the earlier that 128 00:05:59,360 --> 00:06:01,159 Speaker 1: you're able to start thinking this way, the better. Yeah, 129 00:06:01,320 --> 00:06:03,320 Speaker 1: And I think that is the last thing you said, 130 00:06:03,720 --> 00:06:06,560 Speaker 1: in my mind, the best thing that the Fire movement 131 00:06:06,560 --> 00:06:08,960 Speaker 1: has produces. It's it's told a lot of people actually, 132 00:06:09,160 --> 00:06:11,359 Speaker 1: like what everyone has told you you need to do 133 00:06:11,400 --> 00:06:14,080 Speaker 1: with your life, that's not true, and so it's the 134 00:06:14,400 --> 00:06:17,120 Speaker 1: positive spin. It's some some people it is a hatred 135 00:06:17,160 --> 00:06:18,279 Speaker 1: of work and it's like I gotta get out there 136 00:06:18,279 --> 00:06:20,080 Speaker 1: as quickly as possible. And for other people it is 137 00:06:20,360 --> 00:06:23,159 Speaker 1: truly that ability to say like no, no, no, I 138 00:06:23,200 --> 00:06:25,160 Speaker 1: just don't have to do take the same route that 139 00:06:25,200 --> 00:06:27,359 Speaker 1: everyone else is taking, and I want more choice in 140 00:06:27,400 --> 00:06:29,880 Speaker 1: my life. Absolutely. Yeah. But let's say that you didn't 141 00:06:29,920 --> 00:06:33,200 Speaker 1: retire in high school though, which neither of us did, sadly. 142 00:06:33,680 --> 00:06:36,320 Speaker 1: Maybe you're looking for a new job. There's this one 143 00:06:36,360 --> 00:06:38,440 Speaker 1: trend in the job market that you should avoid at 144 00:06:38,480 --> 00:06:41,920 Speaker 1: all costs, and you've definitely heard this term before ghosting. 145 00:06:42,360 --> 00:06:45,320 Speaker 1: There have been a few articles about this phenomenon recently, 146 00:06:45,760 --> 00:06:48,520 Speaker 1: But people are canceling interviews last minute, or worse, they're 147 00:06:48,520 --> 00:06:50,640 Speaker 1: they're not even showing up. Some folks are not even 148 00:06:50,640 --> 00:06:52,560 Speaker 1: just showing up to like the first day of work. 149 00:06:52,600 --> 00:06:54,320 Speaker 1: They're not even saying that, Oh, by the way, I 150 00:06:54,440 --> 00:06:56,960 Speaker 1: quit before I even started. Okay, so I've gotten this 151 00:06:57,000 --> 00:06:58,760 Speaker 1: one quick story one of them, one of my friends 152 00:06:59,200 --> 00:07:00,680 Speaker 1: back in the day, I think I've talked about working 153 00:07:00,680 --> 00:07:02,640 Speaker 1: in the Eckered photo lab, which was one of the 154 00:07:02,680 --> 00:07:05,520 Speaker 1: best shots I've ever had, and he quit with a 155 00:07:05,520 --> 00:07:08,960 Speaker 1: piece of paper left on like the photo machine. And 156 00:07:09,279 --> 00:07:11,560 Speaker 1: it's just a terrible way to leave, right I mean. 157 00:07:11,800 --> 00:07:14,160 Speaker 1: But also, if you're when you're a teenager, let's not 158 00:07:14,360 --> 00:07:15,880 Speaker 1: kind of haunt you in the same way. Yeah, it's 159 00:07:15,880 --> 00:07:18,080 Speaker 1: not the kind of lesson that I want to teach 160 00:07:18,120 --> 00:07:21,320 Speaker 1: my kids, but it's certainly something that folks are basically 161 00:07:21,360 --> 00:07:23,840 Speaker 1: doing today. And that's a problem because, I mean, the 162 00:07:24,040 --> 00:07:26,200 Speaker 1: world it's smaller than you think it is. If you 163 00:07:26,200 --> 00:07:28,400 Speaker 1: found another gig, or you just aren't interested in this 164 00:07:28,480 --> 00:07:31,560 Speaker 1: job anymore, like that's totally fine, that's okay, But there's 165 00:07:31,560 --> 00:07:33,320 Speaker 1: a way to back out of an interview or even 166 00:07:33,360 --> 00:07:36,440 Speaker 1: a job offer with respect and then there's ghosting, and 167 00:07:36,520 --> 00:07:38,680 Speaker 1: so if you do that, you are just you're you're 168 00:07:38,720 --> 00:07:41,520 Speaker 1: hurting your your reputation in the industry. You might be 169 00:07:41,600 --> 00:07:44,720 Speaker 1: burning some bridges unnecessarily. That's a big reason why we 170 00:07:44,760 --> 00:07:46,679 Speaker 1: don't call it f you money. We call it peace 171 00:07:46,680 --> 00:07:49,440 Speaker 1: out money, because it's not about sticking it to whoever 172 00:07:49,640 --> 00:07:51,320 Speaker 1: you were working for. It's not about sticking it to 173 00:07:51,360 --> 00:07:53,560 Speaker 1: the main but it's about being excited about moving towards 174 00:07:53,640 --> 00:07:56,400 Speaker 1: something else that you have the ability to politely say 175 00:07:56,680 --> 00:07:59,440 Speaker 1: peace out. But this is true for companies as well, 176 00:07:59,480 --> 00:08:02,280 Speaker 1: because they do a poor job with this. Uh we 177 00:08:02,280 --> 00:08:05,000 Speaker 1: we saw this recently. Uh the online mortgage company Better. 178 00:08:05,200 --> 00:08:08,520 Speaker 1: They fired those we nine d folks in uh like 179 00:08:08,560 --> 00:08:11,520 Speaker 1: a one way zoom call like, which is like, it's 180 00:08:11,520 --> 00:08:14,200 Speaker 1: almost comical because you could just imagine people being like 181 00:08:14,240 --> 00:08:17,040 Speaker 1: wait what and just like screaming after computers, furious with 182 00:08:18,560 --> 00:08:20,320 Speaker 1: yes exactly when I when I read that story, I 183 00:08:20,440 --> 00:08:23,120 Speaker 1: was just one. I thought Better was a cool company 184 00:08:23,160 --> 00:08:28,120 Speaker 1: and it just completely destroyed. It completely has changed how 185 00:08:28,200 --> 00:08:29,880 Speaker 1: I view that company. But if you want to turn 186 00:08:29,920 --> 00:08:32,040 Speaker 1: down a job, even just a brief email to cancel 187 00:08:32,120 --> 00:08:34,720 Speaker 1: the interview or to opt out of an application process, 188 00:08:35,000 --> 00:08:37,240 Speaker 1: and who knows, you know, that might go a long 189 00:08:37,240 --> 00:08:38,760 Speaker 1: ways in helping you to get a job in that 190 00:08:38,800 --> 00:08:42,280 Speaker 1: company in the future or another company. H If folks 191 00:08:42,320 --> 00:08:44,199 Speaker 1: there happen to move on, you don't want to go 192 00:08:44,200 --> 00:08:46,160 Speaker 1: as people. You don't want to burn those bridges. It's 193 00:08:46,160 --> 00:08:47,840 Speaker 1: not not worth it. Like it doesn't take a whole 194 00:08:47,840 --> 00:08:50,720 Speaker 1: lot to say, hey, thanks for the job offer, but 195 00:08:50,800 --> 00:08:53,560 Speaker 1: I found something else, or hey, thanks for this interview opportunity, 196 00:08:53,600 --> 00:08:55,720 Speaker 1: but it turns out I'm going in a different direction. 197 00:08:56,000 --> 00:08:58,280 Speaker 1: Like that's a pretty simple thing to do, and it's 198 00:08:58,280 --> 00:09:01,360 Speaker 1: the right thing to do. But speaking of jobs, there 199 00:09:01,400 --> 00:09:04,559 Speaker 1: was an article about public displays of resignation in the 200 00:09:04,600 --> 00:09:06,679 Speaker 1: New York Times, kind of kind of on this line 201 00:09:06,760 --> 00:09:08,880 Speaker 1: where not just sticking it to your boss, but then 202 00:09:08,920 --> 00:09:11,319 Speaker 1: telling everybody about how you stuck it to the bottom. Yeah, 203 00:09:11,440 --> 00:09:13,640 Speaker 1: and I guess if you were a better employee, I 204 00:09:13,760 --> 00:09:17,679 Speaker 1: might be posting about that too and be like, com exactly, 205 00:09:18,200 --> 00:09:21,240 Speaker 1: I might be like, this is ridiculous, not cool that 206 00:09:21,280 --> 00:09:24,200 Speaker 1: I just got fired over Zoom alongside hundreds of my 207 00:09:24,200 --> 00:09:28,400 Speaker 1: other colleagues. But more people are detegrating their former employer 208 00:09:28,520 --> 00:09:31,360 Speaker 1: or their boss specifically on social media these days, and 209 00:09:31,520 --> 00:09:33,959 Speaker 1: like you just said it's okay to quit your job 210 00:09:34,040 --> 00:09:36,400 Speaker 1: or to change your mind before you decide to take 211 00:09:36,400 --> 00:09:38,439 Speaker 1: a job. But there's no deed to be a jerk 212 00:09:38,480 --> 00:09:41,160 Speaker 1: when you're quitting, flinging mud all over you know, the 213 00:09:41,160 --> 00:09:45,679 Speaker 1: interwebs and you know, tweeting about how you hate your employer, 214 00:09:45,960 --> 00:09:49,320 Speaker 1: anything like that, Like similarly to ghosting, this is gonna 215 00:09:49,360 --> 00:09:51,840 Speaker 1: hurt you in the long run, especially as more and 216 00:09:51,880 --> 00:09:54,720 Speaker 1: more employers take stock of your social media history. They 217 00:09:54,760 --> 00:09:58,520 Speaker 1: don't want to hire someone who has been talking trash 218 00:09:58,760 --> 00:10:01,280 Speaker 1: about their former employer because you know what, they know 219 00:10:01,400 --> 00:10:03,280 Speaker 1: they're going to be next in line exactly to get 220 00:10:03,320 --> 00:10:05,960 Speaker 1: thrown under the bus. Yeah, they don't want their their 221 00:10:06,000 --> 00:10:08,920 Speaker 1: business to be part of the next quick talk that 222 00:10:08,920 --> 00:10:12,040 Speaker 1: that person happens to put exactly exactly. And this totally 223 00:10:12,080 --> 00:10:14,760 Speaker 1: reminded me, Matt actually of one of my first job 224 00:10:14,800 --> 00:10:17,280 Speaker 1: interviews for a job that I was at for fifteen years, 225 00:10:17,640 --> 00:10:20,560 Speaker 1: and they asked me about my former employer and they 226 00:10:20,640 --> 00:10:22,080 Speaker 1: knew the guy who worked for and they told me 227 00:10:22,120 --> 00:10:24,560 Speaker 1: this after the fact was notoriously difficult to work with. 228 00:10:25,160 --> 00:10:28,520 Speaker 1: They asked about my relationship with him, and I wasn't 229 00:10:28,600 --> 00:10:31,720 Speaker 1: I didn't lie, but I was also, I mostly said 230 00:10:31,760 --> 00:10:34,640 Speaker 1: the good things because I didn't want to talk trash 231 00:10:34,679 --> 00:10:36,680 Speaker 1: about this guy. And I did learn a lot in 232 00:10:36,720 --> 00:10:38,680 Speaker 1: that first job that I had, but it was one 233 00:10:38,720 --> 00:10:40,240 Speaker 1: of those things where they told me after the fact. 234 00:10:40,480 --> 00:10:41,959 Speaker 1: That's a huge part of the reason we decided to 235 00:10:42,000 --> 00:10:44,600 Speaker 1: hire you, because we know that he was hard to 236 00:10:44,600 --> 00:10:46,960 Speaker 1: work with, and you made it sound like it wasn't 237 00:10:46,960 --> 00:10:48,760 Speaker 1: the worst thing ever, and we appreciated that you're a 238 00:10:48,760 --> 00:10:50,920 Speaker 1: peacemaker jewel. Yeah. I mean, seriously, if you've got to 239 00:10:51,320 --> 00:10:55,720 Speaker 1: qualify candidates, one is okay looking, you know, like you 240 00:10:55,760 --> 00:10:59,400 Speaker 1: are that if let's let's say they're both beautiful, you 241 00:10:59,480 --> 00:11:01,880 Speaker 1: and this other applicant. But yeah, if the other applicant 242 00:11:01,880 --> 00:11:04,160 Speaker 1: was just talking trash the whole time, the ability to 243 00:11:04,200 --> 00:11:06,560 Speaker 1: be diplomatic when it comes to your work relationships like that, 244 00:11:06,640 --> 00:11:08,840 Speaker 1: I think certainly will go a long way. That doesn't 245 00:11:08,880 --> 00:11:11,200 Speaker 1: surprise me that they hired you anyway, even if you 246 00:11:11,240 --> 00:11:13,080 Speaker 1: had been the trash talker, I would have hired you. 247 00:11:13,840 --> 00:11:16,240 Speaker 1: Uh But dude, So that we're talking about jobs here, 248 00:11:16,280 --> 00:11:20,000 Speaker 1: the most recent jobs report actually had this interesting dichotomy 249 00:11:20,040 --> 00:11:24,160 Speaker 1: because hiring slowed for many employers, but evidently many individuals 250 00:11:24,320 --> 00:11:27,000 Speaker 1: came back to the job market as overall employment was 251 00:11:27,040 --> 00:11:30,120 Speaker 1: actually up, and so how can that be. Well, it 252 00:11:30,160 --> 00:11:32,920 Speaker 1: turns out many folks are quitting to start their own businesses, 253 00:11:32,960 --> 00:11:35,840 Speaker 1: to start their own thing. Entrepreneurship is up in a 254 00:11:35,840 --> 00:11:38,080 Speaker 1: big way. You know, we just talked about this with Pixie. 255 00:11:38,400 --> 00:11:43,440 Speaker 1: Business applications have skyrocketed over the past fifteen months or so. Etsy. 256 00:11:43,600 --> 00:11:46,640 Speaker 1: They report that the number of sellers has tripled over 257 00:11:46,679 --> 00:11:49,319 Speaker 1: the past two years. Just overall, the number of self 258 00:11:49,320 --> 00:11:52,640 Speaker 1: employed workers is higher than it has been in eleven years. 259 00:11:52,679 --> 00:11:55,559 Speaker 1: And all of these things point to a job market 260 00:11:55,600 --> 00:11:58,360 Speaker 1: that is changing in a significant way. And while you know, 261 00:11:58,400 --> 00:12:00,120 Speaker 1: starting your own business it is not for every one, 262 00:12:00,160 --> 00:12:03,240 Speaker 1: we totally get that, but having more small businesses we 263 00:12:03,360 --> 00:12:06,040 Speaker 1: think is a good thing for our country. I should 264 00:12:06,040 --> 00:12:07,840 Speaker 1: have mentioned this a second again we're talking about Pixie. 265 00:12:07,840 --> 00:12:10,360 Speaker 1: This makes me think of our daughter Evy because Kate's 266 00:12:10,440 --> 00:12:12,839 Speaker 1: uh and the girls they're out in a store, uh, 267 00:12:12,880 --> 00:12:14,240 Speaker 1: and it's kind of like one of these stores where 268 00:12:14,240 --> 00:12:16,240 Speaker 1: they've got some stuff by like a brand that is 269 00:12:16,640 --> 00:12:18,520 Speaker 1: cells nationally, but they also have like a lot of 270 00:12:18,520 --> 00:12:22,640 Speaker 1: local stuff. And they saw these woven like hot pad 271 00:12:22,720 --> 00:12:25,480 Speaker 1: trivots and keep pointing that out. I was like, Evy, 272 00:12:25,480 --> 00:12:28,800 Speaker 1: look at that, and it was literally what Evvy has 273 00:12:28,840 --> 00:12:31,720 Speaker 1: been making. She recently was gifted, uh, like this little 274 00:12:31,840 --> 00:12:34,160 Speaker 1: hot pad triviote maker and we're like, where you make 275 00:12:34,200 --> 00:12:37,280 Speaker 1: these little I don't know, like maybe eight by eight squares, uh, 276 00:12:37,280 --> 00:12:40,480 Speaker 1: and you make these weavings, use different colors. Boom, it's 277 00:12:40,480 --> 00:12:43,560 Speaker 1: a hot pad. They had a listed for thirty bucks, 278 00:12:43,640 --> 00:12:46,120 Speaker 1: and Kate was just like, Hey, if you make me 279 00:12:46,160 --> 00:12:48,800 Speaker 1: one of these and some different colors, maybe we'll gift 280 00:12:48,800 --> 00:12:51,240 Speaker 1: them to some friends and family and I'll pay ten 281 00:12:51,360 --> 00:12:53,360 Speaker 1: dollars for every one of them that you make, and 282 00:12:53,400 --> 00:12:56,280 Speaker 1: said they worked out a deal. I can't exactly remember 283 00:12:56,320 --> 00:12:58,079 Speaker 1: how it is that Evy's gonna be paying for the supplies. 284 00:12:58,080 --> 00:13:00,199 Speaker 1: I can't remember if they front loaded it and she's 285 00:13:00,200 --> 00:13:02,199 Speaker 1: gonna kind of pay off the supplies, or if she's 286 00:13:02,200 --> 00:13:04,360 Speaker 1: just gonna get less of a cut per item that 287 00:13:04,400 --> 00:13:06,959 Speaker 1: she makes. But she's totally into it. Man, she's making 288 00:13:07,120 --> 00:13:08,719 Speaker 1: I think she's already made like two or three of them. 289 00:13:09,040 --> 00:13:12,400 Speaker 1: Maybe y'all will get one. I'm surprised, I hope, so 290 00:13:13,120 --> 00:13:15,760 Speaker 1: I'm surprised. But they're really cool. Uh. And it's just 291 00:13:15,840 --> 00:13:18,440 Speaker 1: another great way again. And she's only eight. But the 292 00:13:18,480 --> 00:13:21,280 Speaker 1: ability to instill within the mind of a kid that 293 00:13:21,320 --> 00:13:23,160 Speaker 1: this is something that you can do, you have control 294 00:13:23,200 --> 00:13:25,320 Speaker 1: over your future, that is huge. Yeah. So she's a 295 00:13:25,360 --> 00:13:28,040 Speaker 1: part of this entrepreneurial trend, which is great, and well, 296 00:13:28,080 --> 00:13:29,679 Speaker 1: I think she's doing under the radar. She doesn't have 297 00:13:29,720 --> 00:13:31,439 Speaker 1: a license yet. That's the question, is it? What what 298 00:13:31,520 --> 00:13:33,880 Speaker 1: time is she gonna fire? She's gonna be like nineteen twenty, 299 00:13:34,120 --> 00:13:38,400 Speaker 1: Like when's that gonna come down the pike? Twelve? Okay, alright, started, 300 00:13:38,679 --> 00:13:41,000 Speaker 1: she's going for it, all right? Well, uh, I love 301 00:13:41,040 --> 00:13:42,680 Speaker 1: seeing that, man. I love seeing this trend. And I 302 00:13:42,720 --> 00:13:45,959 Speaker 1: think as long as you quit amicably starting your own 303 00:13:45,960 --> 00:13:48,839 Speaker 1: thing is is a great thing. And seeing that of 304 00:13:48,920 --> 00:13:51,760 Speaker 1: our trend is great. Uh. Let's talk about gift cards 305 00:13:51,800 --> 00:13:54,400 Speaker 1: for a second, Matt, because gift cards games are on 306 00:13:54,480 --> 00:13:57,440 Speaker 1: the rise to not just entrepreneurship. And there was this 307 00:13:57,559 --> 00:14:01,000 Speaker 1: really really interesting article on Scene at this week about 308 00:14:01,000 --> 00:14:03,439 Speaker 1: a band of I'm gonna call them like Robin Hood 309 00:14:03,559 --> 00:14:07,480 Speaker 1: esque people who are attempting to shut down rings of scammers, 310 00:14:07,640 --> 00:14:10,160 Speaker 1: like Avengers of the Night, like almost like kind of 311 00:14:10,200 --> 00:14:13,520 Speaker 1: like these Batman styles, Yes, exactly, like the signal goes up, 312 00:14:13,520 --> 00:14:17,800 Speaker 1: and they go attack the people who are scamming folks, right, 313 00:14:18,280 --> 00:14:21,560 Speaker 1: scamming people specifically out of money that's on gift cards 314 00:14:21,560 --> 00:14:24,560 Speaker 1: that they have. And I think it's a school because 315 00:14:24,680 --> 00:14:28,000 Speaker 1: mostly these scams go unreported, and when they do get reported, 316 00:14:28,080 --> 00:14:31,240 Speaker 1: there's almost nothing that law enforcement does to fight back. 317 00:14:31,560 --> 00:14:33,600 Speaker 1: And so yeah, we'll link to this article in our 318 00:14:33,600 --> 00:14:36,440 Speaker 1: show notes because it's worth reading. But the reason we 319 00:14:36,440 --> 00:14:38,280 Speaker 1: bring this up is not just to tell you that 320 00:14:38,440 --> 00:14:41,240 Speaker 1: something cool is going on out there, that there are 321 00:14:41,280 --> 00:14:44,480 Speaker 1: people roving bands of people attacking the gift card scammers 322 00:14:44,520 --> 00:14:48,120 Speaker 1: and trying to bring down their businesses, the scam baiters 323 00:14:48,160 --> 00:14:50,520 Speaker 1: like you know, like you Bata fish exactly, I like it, 324 00:14:50,640 --> 00:14:53,680 Speaker 1: and then they club them over the head. And and 325 00:14:53,720 --> 00:14:56,040 Speaker 1: so if if, if someone ever reaches out to you 326 00:14:56,120 --> 00:14:57,920 Speaker 1: and wants you to pay with the gift card, it's 327 00:14:57,920 --> 00:15:00,960 Speaker 1: a scam. And there are so any rip offs that 328 00:15:01,080 --> 00:15:03,280 Speaker 1: go down like this, like and this has become so common. 329 00:15:03,400 --> 00:15:05,920 Speaker 1: It's terrible. So many people lose money this way, and 330 00:15:05,960 --> 00:15:08,040 Speaker 1: of course the reason they do this is because that 331 00:15:08,080 --> 00:15:11,560 Speaker 1: payment then is not traceable. It is truly devious, and 332 00:15:11,560 --> 00:15:13,360 Speaker 1: it's nice to know that there are people out there 333 00:15:13,560 --> 00:15:16,680 Speaker 1: who are trying to bring down that nefarious system. That's right. Yeah, 334 00:15:16,720 --> 00:15:18,640 Speaker 1: So for more we're sitting gift cards are not a 335 00:15:18,640 --> 00:15:20,560 Speaker 1: good gift. We've talked about this before on the show. 336 00:15:21,120 --> 00:15:23,560 Speaker 1: Trading real money for a gift card only makes sense 337 00:15:23,640 --> 00:15:26,080 Speaker 1: if you're getting a great discounts in order to do 338 00:15:26,120 --> 00:15:29,320 Speaker 1: it right, if you're getting fifty dollars worth of goods 339 00:15:29,320 --> 00:15:31,400 Speaker 1: for only forty dollars, that kind of thing. But with 340 00:15:31,440 --> 00:15:34,000 Speaker 1: the holidays just around the corner, if you haven't purchased 341 00:15:34,000 --> 00:15:36,000 Speaker 1: a gift for someone like you might be tempted to 342 00:15:36,000 --> 00:15:38,520 Speaker 1: grab a gift card last minute. But we would advise 343 00:15:38,520 --> 00:15:41,800 Speaker 1: you to avoid gift cards altogether, not necessarily because of 344 00:15:41,880 --> 00:15:44,040 Speaker 1: the scam rings out there. All of you, how many 345 00:15:44,120 --> 00:15:47,040 Speaker 1: listeners out there are fairly sophisticated. If we specifically want 346 00:15:47,080 --> 00:15:49,600 Speaker 1: you to look out for those around you. We don't 347 00:15:49,600 --> 00:15:52,320 Speaker 1: think that you're going to have your money necessarily stolen. 348 00:15:52,720 --> 00:15:55,920 Speaker 1: But it's because that stats show that three billion dollars 349 00:15:55,920 --> 00:15:58,840 Speaker 1: in gift card funds are never redeemed, and so there's 350 00:15:58,880 --> 00:16:02,080 Speaker 1: a good chance of that money going to to complete waste. 351 00:16:02,520 --> 00:16:04,520 Speaker 1: So instead, just give an actual gift, give some cash 352 00:16:04,600 --> 00:16:06,160 Speaker 1: with a thoughtful note instead there are a lot of 353 00:16:06,160 --> 00:16:10,240 Speaker 1: different options rather than the sort of the token gift card. 354 00:16:10,440 --> 00:16:13,040 Speaker 1: And in fact, I am pretty excited about my ability 355 00:16:13,080 --> 00:16:15,880 Speaker 1: to use a gift card Saturday morning at a local 356 00:16:15,880 --> 00:16:18,600 Speaker 1: coffee shop that's been just knocking around our junk drawer 357 00:16:18,600 --> 00:16:21,240 Speaker 1: for the past like two or three years. I am 358 00:16:21,280 --> 00:16:24,120 Speaker 1: so stoked to redeem that money. And uh, it's kind 359 00:16:24,120 --> 00:16:26,120 Speaker 1: of stick it to the man in my own way. Yeah. No, 360 00:16:26,240 --> 00:16:28,320 Speaker 1: I have to say, I think we all have those 361 00:16:28,320 --> 00:16:30,520 Speaker 1: gift cards that are line round, and so of course 362 00:16:30,560 --> 00:16:32,600 Speaker 1: you and I were on this mission to make cash 363 00:16:32,720 --> 00:16:36,080 Speaker 1: not a dirty gift, to make it actually a great gift, 364 00:16:36,120 --> 00:16:38,120 Speaker 1: and and um so yeah that they're better than gift cards. 365 00:16:38,160 --> 00:16:40,120 Speaker 1: Let's be honest, all right, Matt. We've got more stories 366 00:16:40,200 --> 00:16:42,840 Speaker 1: to get to, including one about travel insurance and what 367 00:16:42,920 --> 00:16:45,640 Speaker 1: you need to know before you book a trip. We'll 368 00:16:45,640 --> 00:16:56,920 Speaker 1: get to that and more right after this break. All right, 369 00:16:56,960 --> 00:16:59,120 Speaker 1: So this is our Friday flights. We're gonna talk about 370 00:16:59,160 --> 00:17:01,760 Speaker 1: that travel story here in a little bit. Are you 371 00:17:01,880 --> 00:17:03,320 Speaker 1: do you and Emily do you all have any travel 372 00:17:03,360 --> 00:17:06,280 Speaker 1: plane anytime soon? The trip down to Orlando to visit 373 00:17:06,640 --> 00:17:09,240 Speaker 1: which you're gonna be, You're you're me driving, no, no 374 00:17:09,480 --> 00:17:12,360 Speaker 1: flying in the plane. Yeah, I hope to actually get 375 00:17:12,720 --> 00:17:16,520 Speaker 1: this this man, this is the fifteen anniversary for Kate Nit, 376 00:17:16,560 --> 00:17:18,640 Speaker 1: so I really should start thinking now about what that's 377 00:17:18,640 --> 00:17:21,000 Speaker 1: gonna look like. Uh, this fall thinking one of those 378 00:17:21,359 --> 00:17:24,639 Speaker 1: Blue Blue Origin space flights. What do you think It 379 00:17:24,720 --> 00:17:27,240 Speaker 1: just aw that one guy actually went to the space station. Uh? 380 00:17:27,440 --> 00:17:29,600 Speaker 1: Super cool. Yeah. The other guys before they're only in 381 00:17:29,640 --> 00:17:32,040 Speaker 1: space for like a minute. This guy is spending two weeks, right, 382 00:17:32,359 --> 00:17:34,199 Speaker 1: so awesome. Like that's the kind of space if you're 383 00:17:34,200 --> 00:17:36,520 Speaker 1: gonna do it, like, go all out, go to go 384 00:17:36,640 --> 00:17:38,440 Speaker 1: to the I S S. I don't think the accommodations 385 00:17:38,440 --> 00:17:41,800 Speaker 1: are super nice. Okay, let's get to our ludicrous headline 386 00:17:41,840 --> 00:17:43,840 Speaker 1: of the week. This one is from the Washington Post 387 00:17:43,920 --> 00:17:46,560 Speaker 1: and our friend of the show, Michelle Singletary. But the 388 00:17:46,560 --> 00:17:49,760 Speaker 1: headline reads, new rules allowed debt collectors to track you 389 00:17:49,800 --> 00:17:53,880 Speaker 1: down on social media, Joel. Starting last week, debt collectors 390 00:17:53,880 --> 00:17:56,600 Speaker 1: can now hound you on social media. And we we 391 00:17:56,600 --> 00:17:59,920 Speaker 1: actually do mean hound because unlike when debt collectors content 392 00:18:00,080 --> 00:18:02,520 Speaker 1: to you via the phone, you know, with a phone call, 393 00:18:02,840 --> 00:18:04,959 Speaker 1: there's no limit to the number of messages that they 394 00:18:04,960 --> 00:18:07,960 Speaker 1: can send you by text message or via social media. 395 00:18:08,200 --> 00:18:10,879 Speaker 1: They are limited to seven phone calls within a seven 396 00:18:11,040 --> 00:18:13,320 Speaker 1: day period of time. But if you owe some debt, 397 00:18:13,359 --> 00:18:16,119 Speaker 1: you might find your d M blowing up. It sounds 398 00:18:16,119 --> 00:18:18,920 Speaker 1: like a whole lot of fun, right, But luckily we're 399 00:18:19,000 --> 00:18:22,000 Speaker 1: not completely uh hung out the dry, We're not completely 400 00:18:22,000 --> 00:18:25,080 Speaker 1: on our own because collectors actually have to follow three 401 00:18:25,080 --> 00:18:27,920 Speaker 1: specific rules, and these are rules issued by the CFPB, 402 00:18:28,080 --> 00:18:31,720 Speaker 1: the Consumer Financial Protection Bureau. First of all, the messages 403 00:18:31,760 --> 00:18:34,840 Speaker 1: have to be private, and so no posting on your timeline. 404 00:18:34,840 --> 00:18:37,280 Speaker 1: They can't post in your comments anywhere else that isn't 405 00:18:37,280 --> 00:18:40,679 Speaker 1: completely private to your eyes only. Secondly, they have to 406 00:18:40,720 --> 00:18:43,840 Speaker 1: identify themselves as a debt collector, so there's you know, 407 00:18:43,920 --> 00:18:45,879 Speaker 1: like no shady business where they like they're going to 408 00:18:45,960 --> 00:18:47,840 Speaker 1: pretend to be a friend of yours from high school, 409 00:18:48,200 --> 00:18:50,160 Speaker 1: that kind of thing, Hey Judy, miss you by the way, 410 00:18:50,520 --> 00:18:53,560 Speaker 1: pay up. And then lastly, they have to include a 411 00:18:53,560 --> 00:18:58,040 Speaker 1: simple way for YouTube opt out being contacted on that platform, 412 00:18:58,320 --> 00:19:00,560 Speaker 1: and it's gotta be really simple, really easy to do, 413 00:19:00,640 --> 00:19:02,560 Speaker 1: and they have to do that with every single message 414 00:19:02,640 --> 00:19:05,760 Speaker 1: that they send. And so, you know, on one hand, 415 00:19:05,800 --> 00:19:08,040 Speaker 1: I understand sort of like the ludicrous elements of this 416 00:19:08,080 --> 00:19:10,240 Speaker 1: because it's like, holy crap, like we're not safe anywhere. 417 00:19:10,400 --> 00:19:12,040 Speaker 1: But on the other hand, I do feel that this 418 00:19:12,119 --> 00:19:15,320 Speaker 1: is fairly reasonable because the previously like these rules were 419 00:19:15,320 --> 00:19:18,679 Speaker 1: set out, like in the seventies, text messages, social media, 420 00:19:18,720 --> 00:19:22,280 Speaker 1: these things did not exist. So I want to be reasonable. 421 00:19:22,320 --> 00:19:24,560 Speaker 1: I think that it's okay for us to be reached 422 00:19:24,600 --> 00:19:27,800 Speaker 1: out butts as long as the debt collectors are following 423 00:19:27,800 --> 00:19:30,280 Speaker 1: the rules. And as we all know, there's always uh, 424 00:19:30,400 --> 00:19:32,679 Speaker 1: some rotten apples that kind of ruin things for everybody, 425 00:19:32,680 --> 00:19:34,639 Speaker 1: that's right, Yeah, And so it's good to know the 426 00:19:34,720 --> 00:19:37,679 Speaker 1: rules so in advance, so that if something happens, if 427 00:19:37,680 --> 00:19:40,240 Speaker 1: you get contacted via social media and they do not 428 00:19:40,920 --> 00:19:44,160 Speaker 1: abide by those three rules, you can contact the CFPB 429 00:19:44,560 --> 00:19:47,760 Speaker 1: and report that tech collection let them know exactly. So Matt, 430 00:19:47,800 --> 00:19:50,639 Speaker 1: speaking to that, let's talk about credit scores. You and 431 00:19:50,680 --> 00:19:52,960 Speaker 1: I we've had our gripes with the credit scoring system 432 00:19:53,040 --> 00:19:55,760 Speaker 1: over the years. System. It's speaking of understanding the rules 433 00:19:55,760 --> 00:19:58,200 Speaker 1: and how things work. Yeah, it's kind of complex, and 434 00:19:58,400 --> 00:20:00,920 Speaker 1: a lot of people don't understand how works. And so 435 00:20:01,320 --> 00:20:04,280 Speaker 1: because of that, because of how convoluted things are, a 436 00:20:04,320 --> 00:20:07,480 Speaker 1: lot of people have poorer credit scores than they should 437 00:20:07,480 --> 00:20:09,480 Speaker 1: have you know. Once you know how the system works 438 00:20:09,760 --> 00:20:11,840 Speaker 1: and what makes for a good score, it's it's easy 439 00:20:11,880 --> 00:20:15,399 Speaker 1: to cater your spending habits the way you use credit 440 00:20:15,720 --> 00:20:17,440 Speaker 1: in order to increase your score. But if you don't 441 00:20:17,520 --> 00:20:20,760 Speaker 1: understand the way it works behind the scenes, then you're 442 00:20:20,800 --> 00:20:22,920 Speaker 1: gonna have a harder time. So there's so many folks 443 00:20:22,920 --> 00:20:25,919 Speaker 1: in our country who have no score, who have rough scores, 444 00:20:26,160 --> 00:20:28,720 Speaker 1: and that just impacts them in a whole suite of ways. 445 00:20:29,040 --> 00:20:31,159 Speaker 1: But The New York Times reported this week that a 446 00:20:31,200 --> 00:20:33,800 Speaker 1: bunch of forward looking companies are trying to figure out 447 00:20:33,880 --> 00:20:36,640 Speaker 1: how to bypass the credit bureaus and find other ways 448 00:20:36,680 --> 00:20:40,320 Speaker 1: to verify your credit worthiness. They're calling these new models 449 00:20:40,440 --> 00:20:45,200 Speaker 1: AI credit scores or artificial intelligence credit scores, and so yeah, 450 00:20:45,200 --> 00:20:47,800 Speaker 1: considering the problems with the credit scoring system these days, 451 00:20:48,320 --> 00:20:50,560 Speaker 1: I think some of these AI credit scores are going 452 00:20:50,600 --> 00:20:52,080 Speaker 1: to be good things. And I think we've actually already 453 00:20:52,080 --> 00:20:54,880 Speaker 1: seen and are continuing to see. Uh, some of these 454 00:20:54,920 --> 00:20:58,040 Speaker 1: being implemented, and most of the effects are positive. That's right, 455 00:20:58,119 --> 00:21:00,000 Speaker 1: Most of the effects and so far are they've been positive. 456 00:21:00,880 --> 00:21:02,600 Speaker 1: Because I feel like it always depends on how much 457 00:21:02,720 --> 00:21:05,159 Speaker 1: data you're willing to fork over because that's kind of 458 00:21:05,200 --> 00:21:08,160 Speaker 1: the big like the looming threat, right when it comes 459 00:21:08,160 --> 00:21:09,760 Speaker 1: to some of the different software and some of the 460 00:21:09,760 --> 00:21:12,320 Speaker 1: different apps. Uh, it's like, hey, this is actually a 461 00:21:12,320 --> 00:21:14,720 Speaker 1: free service to you, And in your mind you should 462 00:21:14,720 --> 00:21:17,719 Speaker 1: be thinking, yeah, it's quote unquote free as long as 463 00:21:17,720 --> 00:21:19,159 Speaker 1: I give you all of my data, all of my 464 00:21:19,200 --> 00:21:22,040 Speaker 1: information the actual price paying exactly. Yeah. And so these 465 00:21:22,040 --> 00:21:25,480 Speaker 1: companies are mining just other widely available data in order 466 00:21:25,520 --> 00:21:27,800 Speaker 1: to make a better decision about whether or not they 467 00:21:27,840 --> 00:21:30,000 Speaker 1: should extend credit to you. You know, we've talked about 468 00:21:30,000 --> 00:21:32,960 Speaker 1: the Pedal card, which uses your banking history to give 469 00:21:33,000 --> 00:21:35,399 Speaker 1: you what they call a cash score based on your 470 00:21:35,400 --> 00:21:39,439 Speaker 1: income plus you're spending and saving patterns, instead of using 471 00:21:39,520 --> 00:21:41,560 Speaker 1: a score from one of the credit bureaus. At that 472 00:21:41,640 --> 00:21:45,160 Speaker 1: Times article profiles and company called Upstart that is working 473 00:21:45,200 --> 00:21:49,240 Speaker 1: with banks to offer loans to folks without great credits. 474 00:21:49,560 --> 00:21:50,920 Speaker 1: And you know what, like why will you think that 475 00:21:51,000 --> 00:21:53,000 Speaker 1: you should be careful before bringing in any new debt 476 00:21:53,040 --> 00:21:55,520 Speaker 1: into your life. Of course, it is great to see 477 00:21:55,800 --> 00:21:58,640 Speaker 1: just a new model outside of the main three bureaus. 478 00:21:58,880 --> 00:22:01,159 Speaker 1: We are glad to see that these different companies are 479 00:22:01,200 --> 00:22:04,240 Speaker 1: looking at just the vast quantity of other data that 480 00:22:04,320 --> 00:22:07,080 Speaker 1: is worth looking at besides what it is that experience 481 00:22:07,119 --> 00:22:10,600 Speaker 1: Equifax and TransUnion currently take into accounts, And of course 482 00:22:10,600 --> 00:22:12,400 Speaker 1: it's gonna make a big difference, not only in whether 483 00:22:12,480 --> 00:22:14,080 Speaker 1: or not you get approved for a loan or not, 484 00:22:14,280 --> 00:22:18,000 Speaker 1: but also of course the interest rate that you'll pay. Exactly. Yeah, 485 00:22:18,040 --> 00:22:21,320 Speaker 1: you might find that going with a traditional old school 486 00:22:21,359 --> 00:22:24,439 Speaker 1: bank who uses your old school, traditional credit score from 487 00:22:24,440 --> 00:22:26,159 Speaker 1: one of the credit bureaus, offers you one rate and 488 00:22:26,200 --> 00:22:28,200 Speaker 1: then you go somewhere else. Uh So, I thought you 489 00:22:28,280 --> 00:22:30,920 Speaker 1: mean like old school bank, like it's a wonderful life, 490 00:22:30,920 --> 00:22:33,720 Speaker 1: just like the handshake, because like no credit scores here, 491 00:22:33,840 --> 00:22:35,720 Speaker 1: just like do I know your Papa? No, No, I'm 492 00:22:35,720 --> 00:22:38,600 Speaker 1: saying that, Like, if you go go the traditional route 493 00:22:38,600 --> 00:22:40,480 Speaker 1: and they're using your credit score, you might get one 494 00:22:40,560 --> 00:22:43,040 Speaker 1: rate offer, and then you go some to a company 495 00:22:43,040 --> 00:22:45,639 Speaker 1: who's using one of these new AI credit scores, and 496 00:22:45,680 --> 00:22:48,400 Speaker 1: you might get a much more precise, a better rate 497 00:22:48,640 --> 00:22:50,880 Speaker 1: because of the fact that they're taking more data into 498 00:22:50,920 --> 00:22:52,960 Speaker 1: account when they're making that decision. I'll just baiting you 499 00:22:53,000 --> 00:22:56,439 Speaker 1: with a it's a it's wonderful life and your favorite 500 00:22:56,640 --> 00:22:58,800 Speaker 1: Christmas every time I watch it. So I literally haven't 501 00:22:58,800 --> 00:23:01,479 Speaker 1: watch it like like ten years or something like that. 502 00:23:01,520 --> 00:23:03,440 Speaker 1: I cannot remember the last time that I actually sat 503 00:23:03,440 --> 00:23:05,040 Speaker 1: down and watched it. And what's good, it's a good one. 504 00:23:05,040 --> 00:23:07,800 Speaker 1: I'll remedy that this season. It's a tear tricker. But Matt, 505 00:23:07,880 --> 00:23:10,199 Speaker 1: let's move on to our next story. This one is 506 00:23:10,320 --> 00:23:14,040 Speaker 1: about travel and travel insurance with let's hear it. We 507 00:23:14,040 --> 00:23:16,160 Speaker 1: haven't really talked about you and I about the only 508 00:23:16,240 --> 00:23:18,880 Speaker 1: Cron variants with good job. I feel there's a lot 509 00:23:18,880 --> 00:23:21,560 Speaker 1: of confusion early on as to how you like is it? Oh, 510 00:23:21,800 --> 00:23:23,240 Speaker 1: I don't even know how people were saying, but it's 511 00:23:23,240 --> 00:23:25,600 Speaker 1: O Macron. That's how I mean every time. It's the 512 00:23:25,640 --> 00:23:29,080 Speaker 1: most natural way to say it, Omicron. Yeah, it's for 513 00:23:29,119 --> 00:23:31,280 Speaker 1: some reason, it reminds me of the Transformers. Was there 514 00:23:31,320 --> 00:23:33,560 Speaker 1: a Transformer named O Macron or something similar to that. 515 00:23:33,560 --> 00:23:35,560 Speaker 1: I didn't really watch Transformers what I was liked, but 516 00:23:35,600 --> 00:23:39,359 Speaker 1: watched I watched he Man, I watched Inspector Gadget, Uh, 517 00:23:39,440 --> 00:23:41,360 Speaker 1: you know all the other classic dark Queen Duck. Hey, 518 00:23:41,359 --> 00:23:43,560 Speaker 1: what if the old variant was Delta? What at this 519 00:23:43,640 --> 00:23:47,679 Speaker 1: variant was called like Southwest Hee just named after all 520 00:23:47,680 --> 00:23:50,240 Speaker 1: the airlines. They're not hurting enough Matt, I know exactly. 521 00:23:50,280 --> 00:23:53,359 Speaker 1: It seems like an unfair thing were that to be 522 00:23:53,400 --> 00:23:56,199 Speaker 1: the case. Yes, let's not do that. But the question 523 00:23:56,400 --> 00:23:59,280 Speaker 1: is do you need to purchase trip insurance if you're 524 00:23:59,320 --> 00:24:04,280 Speaker 1: headed on a domestic or international trip, And we'd say 525 00:24:04,320 --> 00:24:07,760 Speaker 1: the answer is that depends because before you buy a policy, 526 00:24:07,920 --> 00:24:11,160 Speaker 1: it's important to know what it covers. For instance, almost 527 00:24:11,160 --> 00:24:14,560 Speaker 1: no trip insurance policy is going to cover your cancelation 528 00:24:14,600 --> 00:24:17,040 Speaker 1: because of COVID fears. Like Matt, my brother in law 529 00:24:17,080 --> 00:24:19,639 Speaker 1: recently went to Michigan and he wasn't sure if he 530 00:24:19,640 --> 00:24:22,359 Speaker 1: was going to take the trip because cases were up 531 00:24:22,359 --> 00:24:25,240 Speaker 1: in Michigan, and even if he had trip insurance, it 532 00:24:25,280 --> 00:24:28,000 Speaker 1: would not have helped him out in that case. That 533 00:24:28,119 --> 00:24:30,280 Speaker 1: is not a valid reason to cancel your trip in 534 00:24:31,040 --> 00:24:34,000 Speaker 1: print exactly. And on the other hand, if you get 535 00:24:34,080 --> 00:24:36,919 Speaker 1: sick from COVID or really sick with something else and 536 00:24:36,960 --> 00:24:39,479 Speaker 1: you have a doctor's note that says that, then your 537 00:24:39,480 --> 00:24:42,040 Speaker 1: trip insurance plan is going to cover it in almost 538 00:24:42,080 --> 00:24:44,919 Speaker 1: all cases. And so we would say, yeah, if you 539 00:24:45,000 --> 00:24:47,080 Speaker 1: need to purchase trip insurance, make sure that you know 540 00:24:47,080 --> 00:24:49,480 Speaker 1: what you're getting. Like you said, Matt, read the fine prints. 541 00:24:49,760 --> 00:24:53,440 Speaker 1: Because you can purchase trip insurance that is cancel for 542 00:24:53,480 --> 00:24:57,040 Speaker 1: any reason trip insurance which allows you to cancel for 543 00:24:57,119 --> 00:25:00,240 Speaker 1: any reason and that c F A R. Yes, but 544 00:25:00,400 --> 00:25:04,159 Speaker 1: that costs more and it also doesn't refund you the 545 00:25:04,160 --> 00:25:06,800 Speaker 1: full price of your trip. And so even in that case, 546 00:25:06,880 --> 00:25:09,240 Speaker 1: it's like, great, I'll be golden. I can cancel for 547 00:25:09,560 --> 00:25:11,400 Speaker 1: whatever reason I want. And it's like, yes, you can, 548 00:25:11,520 --> 00:25:14,040 Speaker 1: but that that insurance is still cost you money and 549 00:25:14,080 --> 00:25:17,200 Speaker 1: you don't get actually a full reimbursement for what you spent. 550 00:25:17,600 --> 00:25:20,840 Speaker 1: You gotta know what you're getting into and also shop 551 00:25:20,880 --> 00:25:23,560 Speaker 1: the open market. There are sites like square mouth and 552 00:25:23,600 --> 00:25:25,679 Speaker 1: ensure my trip dot com where you should go to 553 00:25:25,720 --> 00:25:28,680 Speaker 1: take a look. Don't just get the insurance policy that 554 00:25:28,840 --> 00:25:31,680 Speaker 1: is on the airline's page when you're buying your tickets. 555 00:25:32,000 --> 00:25:33,800 Speaker 1: Go out there in the open market and make sure 556 00:25:33,880 --> 00:25:36,760 Speaker 1: you get a better deal and hopefully policy that covers 557 00:25:36,760 --> 00:25:39,400 Speaker 1: you for what you actually need. Square Mouth, weird Name, 558 00:25:39,440 --> 00:25:43,439 Speaker 1: good Company, Real Quick. A new Gallop survey that was 559 00:25:43,480 --> 00:25:46,200 Speaker 1: just released reveals that almost half of Americans are feeling 560 00:25:46,200 --> 00:25:49,560 Speaker 1: financial pain because of what's happening with inflation. Maybe the 561 00:25:49,800 --> 00:25:53,200 Speaker 1: that might be a situation you find yourself in, and 562 00:25:53,560 --> 00:25:55,480 Speaker 1: you know, we are seeing gas prices starting to receive 563 00:25:55,560 --> 00:25:57,840 Speaker 1: a little bit. Higher prices at the pump and at 564 00:25:57,840 --> 00:26:00,600 Speaker 1: the grocery store have in particular been INCREDI really hard 565 00:26:01,000 --> 00:26:04,280 Speaker 1: for lower income households to absorb. And I mentioned that 566 00:26:04,320 --> 00:26:06,879 Speaker 1: because we're actually going to do a deep dive on inflation, 567 00:26:07,119 --> 00:26:09,560 Speaker 1: how it's making us a little crazy, how we should 568 00:26:09,560 --> 00:26:13,639 Speaker 1: be reacting to inflation. Will actually cover that's on next 569 00:26:13,720 --> 00:26:16,360 Speaker 1: Wednesday's episode, so you can look forward to that. Yeah, 570 00:26:16,400 --> 00:26:19,480 Speaker 1: I feel like so many headlines touching on inflation, and 571 00:26:19,680 --> 00:26:22,000 Speaker 1: it's probably like it's like water cooler talk now for 572 00:26:22,040 --> 00:26:23,680 Speaker 1: so many people. It's like, oh, man, have you seen 573 00:26:23,680 --> 00:26:26,320 Speaker 1: the prices here and here? And is it transitory? Is 574 00:26:26,320 --> 00:26:28,320 Speaker 1: it not transitory? Is like it feels like the word 575 00:26:28,320 --> 00:26:30,440 Speaker 1: of the year to me if yous did so much 576 00:26:30,560 --> 00:26:32,760 Speaker 1: more than ever before. But yeah, well we'll kind of 577 00:26:32,760 --> 00:26:35,040 Speaker 1: get into some of our thoughts and how you should 578 00:26:35,040 --> 00:26:37,239 Speaker 1: think about inflation next week. Looking forward to that one. 579 00:26:37,480 --> 00:26:39,800 Speaker 1: But Matt, that's going to do it for this episode. 580 00:26:39,960 --> 00:26:41,560 Speaker 1: For folks who want the show notes and links to 581 00:26:41,600 --> 00:26:44,120 Speaker 1: some of the items that we mentioned on this episode, 582 00:26:44,160 --> 00:26:46,240 Speaker 1: you can find those at our website at how to 583 00:26:46,280 --> 00:26:48,920 Speaker 1: money dot com. That's right, man, So until next time. 584 00:26:49,160 --> 00:27:02,720 Speaker 1: Best Friends out, Best friends out umber Bo