WEBVTT - Friday Flight - More Potential Loan Forgiveness, Egg Fights, & Workplace Drama #618 0:00:00.160 --> 0:00:03.279 Welcome to How the Money. I'm Joel Matt and today 0:00:03.320 --> 0:00:27.360 we're talking more potential loan forgiveness, egg fights, and workplace drama. Yeah, 0:00:27.400 --> 0:00:31.400 and luckily that workplace drama does not include folks fighting 0:00:31.400 --> 0:00:33.360 over eggs. It's not happening between you and I either, 0:00:33.479 --> 0:00:35.040 not you and I. We've got plenty of eggs at home. 0:00:35.080 --> 0:00:37.640 Actually we've got I don't wanna not to brag or anything, 0:00:37.680 --> 0:00:40.720 but I'm pretty sure we've got eggs, Okay, Richie rich 0:00:41.120 --> 0:00:43.159 And it's not that we stocked up either, Like literally, 0:00:43.360 --> 0:00:46.640 we go through one of those twenty four costco flats 0:00:46.720 --> 0:00:49.279 like uh, in less than a week. I'll just say, 0:00:49.320 --> 0:00:51.479 I'm sure. Yeah, we definitely throw it out for a 0:00:51.520 --> 0:00:53.320 family of your size, I was gonna ask you when 0:00:53.320 --> 0:00:55.279 you used to go into the office to work, did 0:00:55.280 --> 0:00:57.520 you ever Speaking of workplace drama, it makes me think 0:00:57.520 --> 0:01:00.760 about folks putting labels on different sauces. People don't want 0:01:00.800 --> 0:01:03.920 other people. I would not put anything in the main 0:01:04.000 --> 0:01:06.880 fridge because there was like lots of stinky, rotting stuff 0:01:06.880 --> 0:01:08.800 in there too. After a point, so we had like 0:01:08.840 --> 0:01:11.600 a we had a tiny fridge. I shared an office 0:01:11.640 --> 0:01:13.080 with one other person. We had a tiny fridge and 0:01:13.120 --> 0:01:15.440 we just kind of shared that because that thing locked 0:01:15.440 --> 0:01:17.520 down to clean. And then don't let anybody else out 0:01:17.520 --> 0:01:19.360 their stuff in there because it just you know, you 0:01:19.440 --> 0:01:20.920 put it too the main fridge or get your own. 0:01:21.120 --> 0:01:23.479 I like it, man. But yeah, this is our Friday flight, 0:01:23.520 --> 0:01:25.320 and we're gonna talk about the best stories that we 0:01:25.360 --> 0:01:28.160 came across this week and how those stories are going 0:01:28.200 --> 0:01:31.680 to pertain to your personal finances. But Joel, let's let's 0:01:31.680 --> 0:01:37.000 talk about this, uh, this fancy dance we were invited 0:01:37.040 --> 0:01:39.000 to do we love our daughters or not. So a 0:01:39.000 --> 0:01:41.080 friend of our site shot was told us about it's 0:01:41.120 --> 0:01:43.840 a this guy, it's a it's a little nonprofit group. 0:01:43.840 --> 0:01:46.160 I'm pretty sure it's not like he's doing this for profit. 0:01:46.680 --> 0:01:51.000 And it is a daddy daughter dance essentially this and 0:01:51.040 --> 0:01:53.880 this is it's kind of fancy. You get dressed up 0:01:53.880 --> 0:01:56.440 and everything, you wear your nicest clothes. You go. It's 0:01:56.520 --> 0:02:00.680 in a venue in town that I have shot many times. 0:02:00.680 --> 0:02:02.000 It's a nice spot. A lot of a lot of 0:02:02.000 --> 0:02:05.000 folks get married there. But it's also really stinking expensive. 0:02:05.000 --> 0:02:08.160 I think it's a hundreds, like hundred sixty bucks for 0:02:08.240 --> 0:02:11.320 one kid for one night onto the town with your daughter, 0:02:11.960 --> 0:02:14.040 which is a lot of money. So you and I 0:02:14.040 --> 0:02:15.880 started to debate this, and we're like, oh no, this 0:02:15.960 --> 0:02:17.880 is this is a good fodder for the show. But 0:02:17.960 --> 0:02:19.520 if that's your let me let me hear your argument. 0:02:19.600 --> 0:02:21.080 What's yeah, where are you on this? If that's your 0:02:21.160 --> 0:02:22.640 jam as a dad? And you're like, this is gonna 0:02:22.639 --> 0:02:24.760 make my daughter feel special, this is what we're into. 0:02:24.840 --> 0:02:27.000 We like to do this, and I'm gonna budget the money, 0:02:27.000 --> 0:02:29.560 set it aside to go to this dance, take my 0:02:29.639 --> 0:02:31.919 daughter to this dance. I think that's great. I will 0:02:31.919 --> 0:02:33.800 say it's not for me, though, and I don't think 0:02:33.800 --> 0:02:35.919 it's for my kids. My my daughter, not your jam, 0:02:36.040 --> 0:02:38.440 my middle daughter. She prefers waffle house. That's what makes 0:02:38.440 --> 0:02:40.880 her feel special and honestly makes me feel happy to 0:02:41.240 --> 0:02:44.480 So I think your oldest daughter, you don't. You don't 0:02:44.480 --> 0:02:46.359 think she's gonna want to go dance and far you 0:02:46.480 --> 0:02:49.200 might like it. And even if she did, though, I'd 0:02:49.240 --> 0:02:51.320 still be hard pressed to spend a hundred sixty bucks 0:02:51.400 --> 0:02:54.440 on this dance. But I don't know that. I think 0:02:54.480 --> 0:02:56.320 she might be like, oh that was sweet, but it 0:02:56.360 --> 0:02:58.840 wouldn't mean more to her than there's a lot of 0:02:58.840 --> 0:03:00.160 other cool things I could do with her. The lost 0:03:00.200 --> 0:03:03.120 a lot less money, especially for that much. Yeah, I'm 0:03:03.200 --> 0:03:05.800 kind of on the fence. I'm like, let's go. I 0:03:05.800 --> 0:03:07.640 wanted to take her to a climbing gym soon and 0:03:07.680 --> 0:03:10.560 she was like, that sounds awesome. I'd rather fun on 0:03:10.600 --> 0:03:14.160 my dollars towards those experiences than something like this. Totally. Yeah, 0:03:14.200 --> 0:03:16.600 I feel like we get around a lot of the 0:03:17.520 --> 0:03:19.760 draw to go to something like this through daddy daughter dates. 0:03:19.880 --> 0:03:22.440 And yeah, I'm thinking about taking one of our our 0:03:22.480 --> 0:03:25.080 youngest daughter to go get her nails done. I'm like, 0:03:25.200 --> 0:03:28.400 I feel like that's something that she would totally bucks 0:03:28.400 --> 0:03:30.480 and I would totally do it alongside with her, And 0:03:30.520 --> 0:03:33.320 I feel like that that would have a even bigger 0:03:33.360 --> 0:03:35.120 impression on her and that would just be a lot 0:03:35.120 --> 0:03:37.320 of fun. And the other thing too, And there are 0:03:37.360 --> 0:03:40.640 also other ways to go party, uh by going to 0:03:40.720 --> 0:03:42.920 friends weddings. I feel like weddings used to be this 0:03:43.000 --> 0:03:46.400 huge thing that folks would change their plans in order 0:03:46.440 --> 0:03:48.200 to make sure that they were able to attend to 0:03:48.320 --> 0:03:51.400 see family members, to see old friends. And I think 0:03:51.400 --> 0:03:54.040 that that could definitely be a way that you get 0:03:54.120 --> 0:03:56.640 some of that dancing elements, you know, where it is 0:03:56.680 --> 0:03:59.280 a party without having to fork out that much money. 0:03:59.280 --> 0:04:01.080 You can spend like a action to that on whatever 0:04:01.120 --> 0:04:03.200 gift you can get for that couple. I get the impetus. 0:04:03.240 --> 0:04:05.839 I feel like it's a sweet thought, and but it's 0:04:05.920 --> 0:04:07.640 I definitely get that. I think there's a way to 0:04:07.680 --> 0:04:10.400 do it for hopefully less money. Like that's that's just 0:04:10.440 --> 0:04:13.080 a lot of money. What you're missing out prohibitive and 0:04:13.440 --> 0:04:15.480 it's just not my jam anyway. What's cool, though, is 0:04:16.040 --> 0:04:19.800 being able to demonstrate how you want your daughter to 0:04:20.040 --> 0:04:22.800 expect someone that she were to go out out on 0:04:22.839 --> 0:04:24.280 a date with. Sure, you want to be able to 0:04:24.320 --> 0:04:26.600 set the bar real high. And so I guess that's 0:04:26.640 --> 0:04:29.320 the part of it that makes me still consider it 0:04:29.360 --> 0:04:31.600 a little bit, because it's like there's a whole there's 0:04:31.640 --> 0:04:34.880 just a formality around it that I want to see 0:04:35.200 --> 0:04:37.400 shown to my daughters if and when they go to 0:04:37.480 --> 0:04:40.040 dances or like when they start going on dates. This 0:04:40.080 --> 0:04:43.720 is in our future to do uh these kind of Yeah, 0:04:43.720 --> 0:04:45.880 these discussions are in the cards. So maybe we're being cheap. 0:04:45.920 --> 0:04:47.480 I don't know how, I don't think so it's not 0:04:47.520 --> 0:04:49.920 gonna happen for me this year, but maybe in the future, 0:04:50.160 --> 0:04:52.599 especially if there's a sweet discount come the cuts and 0:04:52.640 --> 0:04:55.160 half or something like that. But all right, let's move on, Matt. 0:04:55.200 --> 0:04:56.680 Let's get to the Friday flight in the sampling of 0:04:56.720 --> 0:04:59.279 stories we found interesting this week. Let's get that student 0:04:59.320 --> 0:05:01.719 one forgiveness to right off the bat, because you know, 0:05:01.760 --> 0:05:03.839 we still don't know what's going to happen with the 0:05:03.839 --> 0:05:08.640 Biden administration's ten to student loan forgiveness proposal that's still 0:05:08.640 --> 0:05:10.920 tied up in the courts. The Supreme Court is set 0:05:10.960 --> 0:05:14.400 to take that case up, likely in late spring. But 0:05:14.440 --> 0:05:17.160 there's potentially even more interesting news on the student loan 0:05:17.200 --> 0:05:20.279 front this week, something potentially even bigger than that student 0:05:20.279 --> 0:05:22.400 loan forgiveness, and most people being well, what's bigger than 0:05:22.440 --> 0:05:24.800 just getting a chunk of your debt lopped off? Well, 0:05:24.960 --> 0:05:28.039 new income based repayment rules could have an even bigger 0:05:28.080 --> 0:05:30.560 impact on a ton of college grads and the help 0:05:30.600 --> 0:05:33.719 that they're going to receive if these new IBr income 0:05:33.720 --> 0:05:36.320 based re payment rules are enacted. And there are a 0:05:37.000 --> 0:05:40.720 few different income based repayment plans currently on the books, 0:05:40.760 --> 0:05:43.480 but this new one is basically going to be uh 0:05:43.720 --> 0:05:48.320 a lot better than the ones that are currently around. Yeah, 0:05:48.360 --> 0:05:50.400 it's gonna be a lot more generous. It could cut 0:05:50.600 --> 0:05:53.880 it's gonna cut in half the payment amounts for borrowers 0:05:53.960 --> 0:05:56.560 based on their discretionary income. And so we can see 0:05:56.560 --> 0:06:00.320 the average payment amount trop precipitously based on these you know, 0:06:00.480 --> 0:06:03.839 new income based rules loan balances, they wouldn't be allowed 0:06:03.880 --> 0:06:06.560 to grow if folks are making on time payments. We 0:06:06.560 --> 0:06:08.479 we'd see a lot more low income folks with a 0:06:08.520 --> 0:06:11.919 monthly student loan payment of zero dollars, which would obviously 0:06:12.040 --> 0:06:16.000 be majorly beneficial for their budget um. And it would 0:06:16.000 --> 0:06:19.560 also slash the forgiveness timeline from twenty years to ten, 0:06:19.680 --> 0:06:21.720 so cut that in half two for a whole lot 0:06:21.720 --> 0:06:23.680 of barbers as well. And so, while we're waiting for 0:06:23.680 --> 0:06:27.159 the Supreme Court to do their thing, this somewhat quiet proposal. 0:06:27.839 --> 0:06:30.520 It's it's getting some headlines, but it's not getting nearly 0:06:30.800 --> 0:06:33.760 the headlines that forgiveness forgiveness was. This could end up 0:06:33.800 --> 0:06:36.680 making I would say, a much bigger impact than ten 0:06:36.680 --> 0:06:38.880 thousand dollars lopped off your student loans. That's right. Yeah, 0:06:38.920 --> 0:06:42.200 so friend of the show Travis over at student loan Planner, 0:06:42.600 --> 0:06:46.400 He tweeted Biden just proposed a permanent student loan pause 0:06:46.480 --> 0:06:49.880 and free college for almost all but no one realizes 0:06:49.880 --> 0:06:53.320 it yet. That's how big of an impact this might have. Yeah, exactly, so, 0:06:53.440 --> 0:06:55.560 I mean it would be an obvious relief to a 0:06:55.600 --> 0:06:58.360 lot of folks with significant amounts of student loan debt 0:06:58.640 --> 0:07:00.880 um and even after pay are set to resume, this 0:07:00.880 --> 0:07:04.680 would ensure that they kind of don't resume for millions 0:07:04.680 --> 0:07:07.440 of borrowers. Yeah, it's it's like a way to prolong. 0:07:07.560 --> 0:07:10.280 We're gonna push this out and then after ten years poof, 0:07:10.360 --> 0:07:12.920 you don't. You're calling it something else, but that's in 0:07:12.920 --> 0:07:15.400 effect what it's doing. You're eliminating it. And so yeah, 0:07:15.440 --> 0:07:18.559 where does this thing stand. Well, it's in this thirty 0:07:18.640 --> 0:07:21.280 day comment period, but we could see it become an 0:07:21.280 --> 0:07:23.880 official rule soon after that. And so yeah, one thing 0:07:23.920 --> 0:07:26.440 that we should mention is that, you know, neither this 0:07:26.480 --> 0:07:30.160 plan nor the forgiveness endeavor impact the sticker price of 0:07:30.160 --> 0:07:32.800 a college education. They're not addressing that head on, and 0:07:32.880 --> 0:07:35.320 we'd love to see some focus on actually bringing down 0:07:35.760 --> 0:07:38.680 the cost of college, not just helping folks pay for 0:07:38.680 --> 0:07:41.560 that overpriced education on the back end. And actually, I 0:07:41.560 --> 0:07:44.120 take that back I think it will have an impact 0:07:44.360 --> 0:07:47.280 on the sticker price of college because anytime you have 0:07:47.960 --> 0:07:52.200 the of a good being subsidied subsidized, what does that 0:07:52.240 --> 0:07:54.880 then do you? You've you've got the partakers, the folks 0:07:54.920 --> 0:07:57.320 who consume that good. They say, oh, well, if you're 0:07:57.320 --> 0:07:59.080 gonna give me money to buy this thing, I'm gonna 0:07:59.120 --> 0:08:01.720 go buy more of that thing. You essentially are reducing 0:08:01.720 --> 0:08:04.920 the cost of college for individuals. And of course colleges, 0:08:04.960 --> 0:08:08.320 they only have a limited supply of their education, right, Like, 0:08:08.320 --> 0:08:10.280 there are only so many students that they can have 0:08:10.320 --> 0:08:13.120 on campus. And so if they have more folks than 0:08:13.160 --> 0:08:16.520 ever clamoring to get into their college because it's becoming 0:08:16.640 --> 0:08:21.280 effectively more affordable for those potential college grads, what are 0:08:21.280 --> 0:08:23.920 they gonna do to balance out that supply and demand 0:08:24.120 --> 0:08:26.640 you raise the stinking prices? Like, we only need to 0:08:26.640 --> 0:08:28.600 look back to the past two or three years to 0:08:28.720 --> 0:08:32.719 see something a very similar dynamic. Right during the pandemic, 0:08:32.840 --> 0:08:35.439 we were all wedding on those stemmy checks to show up. 0:08:35.679 --> 0:08:39.120 And what did that additional cash on hand? Cause it 0:08:39.240 --> 0:08:43.160 caused prices of all goods and services to skyrockets. Inflation 0:08:43.200 --> 0:08:46.440 we're talking about now being called yea general inflation. Yeah, 0:08:46.640 --> 0:08:48.600 and so we only need to look back. I mean, 0:08:48.800 --> 0:08:51.720 we we have a very recent example as to what 0:08:51.760 --> 0:08:54.800 this is likely going to do to something like we're 0:08:54.800 --> 0:08:56.880 not learning from that and the reality, Yeah, this does 0:08:57.000 --> 0:09:00.280 incentivize people to take out more and more student loan 0:09:00.360 --> 0:09:03.840 debt because you realize, well, hey, my payments probably are 0:09:03.880 --> 0:09:05.679 going to be that bad even you know, even if 0:09:05.720 --> 0:09:08.440 I do take on a d k uh in student 0:09:08.480 --> 0:09:11.439 loans to get that degree, and eventually they're going to 0:09:11.520 --> 0:09:14.480 be forgiven, So what's the harm? And it just encourages 0:09:14.520 --> 0:09:16.679 people to load up on stuff, and we're going to 0:09:16.800 --> 0:09:19.960 just see the federal government paying hundreds of billions of 0:09:20.000 --> 0:09:23.560 dollars to more than more than they already are total 0:09:23.640 --> 0:09:25.839 to subsidize people to go to college. And by the way, 0:09:25.880 --> 0:09:28.520 this isn't like this, This isn't a political soapbox. This 0:09:28.600 --> 0:09:31.360 is just economics. This is supply and demand. Uh. And 0:09:31.480 --> 0:09:34.000 another note, I mean, I don't blame individuals for taking 0:09:34.040 --> 0:09:36.479 advantage of that, because if you are going to incentivize 0:09:36.520 --> 0:09:39.040 a certain behavior, I think it would be foolish to 0:09:39.120 --> 0:09:42.600 not accept the offerings that are being presented to you. Say, 0:09:42.640 --> 0:09:43.679 I mean kind of like when you get to two 0:09:43.679 --> 0:09:45.480 and a half percent mortgage, right, you're like, cool, this 0:09:45.520 --> 0:09:46.679 is great, and then you don't want to pay it 0:09:46.720 --> 0:09:48.840 off when mortgage rates go up. Yeah, exactly. In going 0:09:48.880 --> 0:09:50.640 back to to the stimy checks, we were all sitting 0:09:50.640 --> 0:09:53.600 there waiting for those checks to drop, for for those 0:09:53.640 --> 0:09:56.120 checks to hit our bank accounts. It's not that as 0:09:56.160 --> 0:10:00.600 individuals we shouldn't necessarily respond to those incent tis. It's 0:10:00.640 --> 0:10:03.720 just that we feel that the government is going about 0:10:03.760 --> 0:10:06.040 this the wrong way. Yeah, for sure, And and and 0:10:06.080 --> 0:10:09.360 again not attacking the problem. We are trying to put 0:10:09.360 --> 0:10:12.040 a band aid on a gaping wounds, and the root cause, 0:10:12.080 --> 0:10:16.240 the root problem still remains unattended. But Matt, you mentioned inflation, 0:10:16.400 --> 0:10:19.520 and let's talk about egg prices, something that have become 0:10:19.559 --> 0:10:23.079 massively inflated recently. See more headlines about eggs over the 0:10:23.120 --> 0:10:26.400 past two weeks. Yes, you have, that's because they've gone 0:10:26.440 --> 0:10:29.560 up by something something like about in a month. So 0:10:29.679 --> 0:10:33.120 and uh, my wife Emily shoeing to Costco. You have 0:10:33.200 --> 0:10:36.400 two crates your lucky dog. But she said they were 0:10:36.400 --> 0:10:39.520 completely out of all eggs, even the expensive fans. But 0:10:39.559 --> 0:10:40.800 do you all have any right now in your fridge? 0:10:40.920 --> 0:10:43.160 Probably have like eighteen eggs in our friend. If you 0:10:43.320 --> 0:10:45.200 if you'll need some eggs, y'all, y'all let us know, 0:10:45.320 --> 0:10:47.360 don't don't worry. I'm coming knocking on your door. It 0:10:47.480 --> 0:10:49.760 is interesting to see egg prices rocking up in the 0:10:49.800 --> 0:10:52.360 way they are, like they're even higher in California. The 0:10:52.480 --> 0:10:54.040 l A time says that a dozen eggs is going 0:10:54.080 --> 0:10:56.560 to cost you seven dollars and thirty seven cents right now. 0:10:56.880 --> 0:10:58.640 And part of the reason there's so much more expensive 0:10:58.640 --> 0:11:01.880 in California is because law there only allows for cage 0:11:01.880 --> 0:11:04.800 free eggs, which means there's even less supply, which means, 0:11:04.880 --> 0:11:09.000 of course, even higher prices. And that is triple the 0:11:09.040 --> 0:11:10.960 cost of what you would have paid a year ago. 0:11:10.960 --> 0:11:12.840 It's something like two dollars and forty cents, and now 0:11:12.840 --> 0:11:15.120 it's seven dollars and thirty seven cents. So we've seen 0:11:15.160 --> 0:11:19.559 egg prices just go up precipitously. And apparently there are 0:11:19.600 --> 0:11:23.320 literally fights breaking out in the egg which sounds like 0:11:23.360 --> 0:11:26.760 it can actually threaten the precious, preciously loads of five eggs, 0:11:26.800 --> 0:11:29.040 like no, no, not the egg. Someone gets slammed into 0:11:29.040 --> 0:11:31.079 the pile of eggs and boom, you just like ruined. 0:11:31.080 --> 0:11:32.640 A bunch of one thing if you're fighting ever, like 0:11:32.800 --> 0:11:35.760 cans of beans, right, but like these eggs are gonna 0:11:35.880 --> 0:11:38.439 be harmed in the actual still half with like a 0:11:38.480 --> 0:11:41.480 slightly dented can of beans, but the eggs are just ruined. 0:11:41.679 --> 0:11:44.120 And it's it's not just your normal inflation trends though, 0:11:44.160 --> 0:11:46.160 that are causing the spike and egg prices. It's the 0:11:46.200 --> 0:11:48.800 Avian flu, which is leading to the deaths of tens 0:11:48.800 --> 0:11:52.679 of millions of chickens, wreaking havoc on the supply of 0:11:52.800 --> 0:11:55.959 just the most basic kitchen staple like that everyone has 0:11:55.960 --> 0:11:58.400 in the fridge or almost everyone, right, And when something 0:11:58.440 --> 0:11:59.840 goes up in the price in a big way, like 0:11:59.840 --> 0:12:02.800 the typically matt we would recommend a substitute for someone 0:12:02.840 --> 0:12:06.640 to say, hey, guess what chicken went up, but beef 0:12:06.760 --> 0:12:11.000 prices remain relatively stable. You should substitute and and eat 0:12:11.040 --> 0:12:13.920 more beef instead of chicken. That typically not how it works, 0:12:13.960 --> 0:12:16.560 but I'm just saying, like, usually we would say, don't 0:12:16.600 --> 0:12:18.360 buy the really expensive thing for a while, wait for 0:12:18.360 --> 0:12:21.360 prices to come down. But when it comes to eggs, 0:12:21.400 --> 0:12:22.920 there it's just not really any equivalent on that front. 0:12:22.960 --> 0:12:25.360 So you almost have to grin and merit kind of 0:12:25.360 --> 0:12:28.040 there is Well, have you ever heard of aquafaba? It's 0:12:28.080 --> 0:12:30.120 like this, um, it's the water. How do you know 0:12:30.120 --> 0:12:32.960 about all these weird things? Because my wife is Kate, 0:12:33.000 --> 0:12:35.320 and so we talked about food stuff. It's the liquid 0:12:35.360 --> 0:12:38.480 that's left behind in a can of chick piece and 0:12:38.520 --> 0:12:42.319 so it's like the starchy, protein laden liquid. And evidently 0:12:42.320 --> 0:12:44.800 and you can you can whip it and create a meringue, 0:12:45.040 --> 0:12:48.600 which normally called egg whites. So it's like a it's 0:12:48.600 --> 0:12:51.160 like a vegan egg white substitute. Basically, what's like, what's 0:12:51.160 --> 0:12:56.199 the yolk substitute? Matt h caldberry cream eggs. It's a 0:12:56.200 --> 0:12:59.000 good point. It kind of makes one wonder if they 0:12:59.040 --> 0:13:01.480 should like buy some of those chickens, get the jump 0:13:01.559 --> 0:13:03.440 in on the backyard chicken trend, go back to their 0:13:03.480 --> 0:13:05.800 agrarian roots. Yeah, Like I mean we did that for 0:13:05.800 --> 0:13:07.839 a while away back in the day. Another way you 0:13:07.880 --> 0:13:10.400 can keep from blowing out your grocery budget is by 0:13:10.600 --> 0:13:13.040 wasting less food, which is what The New York Times 0:13:13.160 --> 0:13:15.840 wrote about this week. One of my favorite topics. The 0:13:15.840 --> 0:13:20.000 average household shovels nearly a third one third of their 0:13:20.040 --> 0:13:23.400 food into the garbage. Uh. And this article talked about 0:13:23.800 --> 0:13:26.680 a town in Ohio that's on a mission to do 0:13:26.760 --> 0:13:29.880 something about it, largely through education, and so much of 0:13:29.880 --> 0:13:31.880 the waste that that happens obviously, it's it's at the 0:13:31.920 --> 0:13:34.520 household level. Uh. And so there are a number of 0:13:34.559 --> 0:13:37.959 things that you can do to reduce food waste. We've 0:13:37.960 --> 0:13:40.360 got a few tips. First of all, playing your meals. 0:13:40.520 --> 0:13:42.520 Once you have that plan, make a list, and then 0:13:42.600 --> 0:13:45.320 shop via that list. Don't go to the grocery store hungry, 0:13:45.720 --> 0:13:49.120 and you know, bypass the egg. I'll start walking through 0:13:49.120 --> 0:13:51.439 all the prepared foods that looks so delicious, that costs 0:13:51.480 --> 0:13:54.200 so much money. Though. But then on the back end 0:13:54.559 --> 0:13:57.920 of fixing a meal, make sure that you eat, or 0:13:57.960 --> 0:14:00.240 if you if you don't eat, freeze your leftovers. I 0:14:00.280 --> 0:14:03.720 know this sounds super basic, but oftentimes the most simple 0:14:03.800 --> 0:14:06.319 solutions are going to be the most effective. Usually, the 0:14:06.320 --> 0:14:09.199 biggest food waste culprit is that we're just scraping those 0:14:09.280 --> 0:14:11.599 leftovers into the trash trash man. Yeah, and it's not 0:14:11.640 --> 0:14:13.800 always easy. I will say so recently, we bought a 0:14:13.800 --> 0:14:16.440 bunch of like a Costco. It's like three pounds of 0:14:16.600 --> 0:14:18.760 sliced chicken breast, for the for the kids, and some 0:14:18.920 --> 0:14:21.600 other cheeps, some fancy provogom that we've never gotten before. 0:14:21.920 --> 0:14:24.320 Kids didn't like it? Did I throw that food away? 0:14:24.360 --> 0:14:26.320 Heck no, I've been eating it for like three days straight. 0:14:27.200 --> 0:14:29.680 I've noticed you're like, I think you like it, but 0:14:29.720 --> 0:14:31.920 you're also probably tired of it. But but you're pushing through. 0:14:32.160 --> 0:14:34.080 I liked it initially, I am getting tired of it. 0:14:34.080 --> 0:14:35.800 But guess what, it's the weekend, and so I'm gonna 0:14:35.840 --> 0:14:38.840 toss that in the freezer. I'm gonna revisit those leftovers 0:14:38.880 --> 0:14:41.840 sometime next week. So do the same thing. Eat those 0:14:41.880 --> 0:14:43.720 leftovers if you If you feel like you've had it 0:14:43.720 --> 0:14:45.640 too much, maybe you're getting sick of it, toss it 0:14:45.640 --> 0:14:46.960 in the freezer and pull that out in a couple 0:14:46.960 --> 0:14:48.120 of weeks or maybe at the end of the month 0:14:48.120 --> 0:14:50.800 and once your grocery budget UH is looking a little 0:14:50.880 --> 0:14:53.680 more lean, and also maybe dial back on how many 0:14:53.880 --> 0:14:56.760 unless you're making yeah, going back to the afford them anymore. 0:14:57.200 --> 0:15:00.200 We're not experts on the bird diseases out there, so 0:15:00.240 --> 0:15:02.920 we don't have any idea where the price of eggs 0:15:02.920 --> 0:15:06.240 are headed. But if I mean if egg prices continue 0:15:06.280 --> 0:15:08.000 to go up, you might, you know, want to cut 0:15:08.000 --> 0:15:11.040 back a bit on the consumption of those and also consider, 0:15:11.360 --> 0:15:13.680 let me make some adjustments to your budget, because you 0:15:13.680 --> 0:15:16.720 need to make sure that you're spending is reflecting this 0:15:16.720 --> 0:15:19.000 this new reality. All right, Matt, We got more to 0:15:19.080 --> 0:15:21.320 get to on this Friday flight. And we talked just 0:15:21.360 --> 0:15:23.920 a second ago about one government proposal that could massively 0:15:24.000 --> 0:15:26.800 impact how much people have to pay on their student loans. 0:15:26.800 --> 0:15:29.880 But there's another government proposal that might go into effect 0:15:29.960 --> 0:15:32.280 later this year too that might have an even bigger 0:15:32.320 --> 0:15:35.320 impact on our economy and on a bunch of individuals. 0:15:35.320 --> 0:15:47.720 Will discuss that and more right after this the rubber back. 0:15:47.880 --> 0:15:49.280 Do you think we talked a little bit too much 0:15:49.280 --> 0:15:51.240 about eggs before the break? I don't want this to 0:15:51.240 --> 0:15:54.960 be like, yeah, okay, everyone eats them. It's it's really important, 0:15:54.960 --> 0:15:57.360 like and it's crazy to see something like that. We're 0:15:57.400 --> 0:15:59.520 all like, inflation eight percent a year. You're like, oh, 0:15:59.600 --> 0:16:02.320 that's tough of stomach, but a price has literally been up. 0:16:03.360 --> 0:16:05.400 It felt like it. And so that being said, we 0:16:05.440 --> 0:16:08.320 gotta stop because now we are talking. Uh, it is 0:16:08.400 --> 0:16:12.080 now time for our ludicrous headline of the week doesn't 0:16:12.120 --> 0:16:16.480 comes from Bloomberg on the headline reads airline stocks dip 0:16:16.520 --> 0:16:20.680 as f a A system failure leads to groundings. Basically, 0:16:20.840 --> 0:16:22.960 you may have seen this earlier this week, but the 0:16:23.040 --> 0:16:24.480 f a A may have been to the airport and 0:16:24.520 --> 0:16:28.600 been like, hopefully your airport that the notification system it 0:16:28.680 --> 0:16:32.240 had an outage on Wednesday morning and that impacted airlines 0:16:32.280 --> 0:16:35.800 in a meaningful way, causing obviously more delays and cancelations 0:16:35.800 --> 0:16:38.200 of flights. And you might be thinking this is kind 0:16:38.200 --> 0:16:41.760 of a what an odd ludicrous headline, right, Well, it 0:16:41.840 --> 0:16:43.640 kind of felt like a good way to show that 0:16:43.680 --> 0:16:47.480 there are all sorts of things that can impact the 0:16:47.520 --> 0:16:51.080 price of individual stocks, especially in the short term, and 0:16:51.120 --> 0:16:52.960 many of which are out of the hands of the 0:16:53.000 --> 0:16:55.840 businesses themselves. You know, this was an an f a A 0:16:55.760 --> 0:17:00.400 A failure, not the airlines themselves, but still they felt 0:17:00.440 --> 0:17:03.880 the brunt of that failure at least for a little while. Uh. 0:17:03.880 --> 0:17:05.560 And so it's just important to keep in mind that 0:17:05.600 --> 0:17:08.560 all sorts of things can impact the value of an 0:17:08.560 --> 0:17:12.320 individual stock or even an entire industry. An errant tweet 0:17:12.640 --> 0:17:15.439 makes me think back to Elon Musk. Haven't heard from 0:17:15.480 --> 0:17:17.080 him in a while. What's he up to? Who knows? 0:17:17.240 --> 0:17:19.400 Hopefully he's back to work. Hopefully he's actually like working 0:17:19.440 --> 0:17:23.760 yet not less tweeting, more running, doing what he's best at. 0:17:24.000 --> 0:17:28.440 But other environmental effects, you like rising interest rates or 0:17:28.640 --> 0:17:32.240 even going in and exiting a pandemic, you can't predict 0:17:32.320 --> 0:17:35.040 these things as an individual investor, as smart as you 0:17:35.080 --> 0:17:37.479 think you might be. And that's why, you know, buying 0:17:37.600 --> 0:17:41.439 an entire basket of let's say, five D stocks and 0:17:41.480 --> 0:17:44.640 an index fund is a far better move, we think 0:17:44.680 --> 0:17:47.760 for almost everyone out there. What are you referring to, 0:17:47.800 --> 0:17:54.520 man or three thou that's another approach you can take. Yeah, well, 0:17:54.680 --> 0:17:56.879 so we had a listener email us last year and 0:17:56.920 --> 0:17:59.080 he was he told us, Matt, how insane we are 0:17:59.400 --> 0:18:01.880 for telling our listeners not to invest in single stocks. 0:18:02.160 --> 0:18:05.840 And he specifically detailed how amazing it's been for him 0:18:05.880 --> 0:18:08.960 owning Apple and Tesla stock. And he's like, uh, I 0:18:09.000 --> 0:18:11.280 mean this was probably this was probably nine or ten 0:18:11.320 --> 0:18:13.760 months ago, and he was talking about how much money 0:18:13.800 --> 0:18:16.879 he made and how we must be just complete ignoramuses 0:18:17.240 --> 0:18:20.200 to not suggest that our listeners do the same. Yeah, 0:18:20.200 --> 0:18:22.600 Tesla in particular was on a nice rod up to 0:18:22.640 --> 0:18:25.320 the up to its peak. Yes it was, And I 0:18:25.320 --> 0:18:27.680 didn't want to dissuade him from doing what he wanted 0:18:27.720 --> 0:18:29.960 to do. But I'm also not willing to change my 0:18:30.119 --> 0:18:33.040 take and what we recommend folks to invest in based 0:18:33.040 --> 0:18:36.000 purely on this dude's experience. And so the question is, like, 0:18:36.040 --> 0:18:38.520 how are those stocks doing now that we're doing so 0:18:38.600 --> 0:18:41.080 well for him a year ago. Well, even though Tesla 0:18:41.119 --> 0:18:43.600 as a company has had a solid last twelve months, 0:18:43.600 --> 0:18:46.679 the stock has dropped more than And that's another thing. 0:18:46.720 --> 0:18:49.720 It's like, it's not like Tesla's massively missing out on 0:18:50.160 --> 0:18:52.840 the deliveries of the vehicles they said they're gonna make. 0:18:53.080 --> 0:18:55.160 They've been doing pretty good on that front, but they 0:18:55.240 --> 0:18:57.320 delivered more than ever at the you know, by the 0:18:57.400 --> 0:18:59.840 end of two maybe not quite as many as they 0:18:59.880 --> 0:19:02.200 were shooting for, but still the most pret on close, 0:19:02.480 --> 0:19:04.480