1 00:00:00,120 --> 00:00:02,640 Speaker 1: Welcome to How the Money. I'm Joel and I and 2 00:00:02,800 --> 00:00:05,440 Speaker 1: Matt and today we're discussing mortgage rates at all time 3 00:00:05,480 --> 00:00:27,200 Speaker 1: lows and back to school spending. Yeah, Joel, not only 4 00:00:27,240 --> 00:00:29,680 Speaker 1: are we gonna talk about how mortgage rates uh interest 5 00:00:29,760 --> 00:00:32,199 Speaker 1: rates that they are at all time lows, but we're 6 00:00:32,200 --> 00:00:34,360 Speaker 1: also going to discuss what to do if you can't 7 00:00:34,479 --> 00:00:37,240 Speaker 1: pay your rent, So if you don't own a place, 8 00:00:37,680 --> 00:00:39,159 Speaker 1: or if you're not looking to own a place, what 9 00:00:39,280 --> 00:00:41,960 Speaker 1: to do if you are in a renting situation. Yeah, 10 00:00:42,000 --> 00:00:43,559 Speaker 1: and back to school spending. By the way, I use 11 00:00:43,600 --> 00:00:46,040 Speaker 1: that term loosely because I realize a lot of people 12 00:00:46,040 --> 00:00:48,960 Speaker 1: aren't actually physically going back to school, but there's still 13 00:00:49,000 --> 00:00:51,320 Speaker 1: money to be spent, right and there's still things that 14 00:00:51,360 --> 00:00:54,280 Speaker 1: people need, and in a particular electronics right now for 15 00:00:54,440 --> 00:00:56,360 Speaker 1: a lot of their kids who are doing schooling from home, 16 00:00:56,440 --> 00:00:59,279 Speaker 1: there are deals to be found. Man, speak of electronics 17 00:00:59,320 --> 00:01:02,280 Speaker 1: real quick, Are you still rocking your your bone conduction 18 00:01:03,240 --> 00:01:06,280 Speaker 1: wireless headphones? I sure am, Yeah, where like the sound 19 00:01:06,360 --> 00:01:09,280 Speaker 1: vibrates through your your skull bones? Yeah? I really like 20 00:01:09,400 --> 00:01:12,399 Speaker 1: my They are the Aftershocks brand. I guess there are 21 00:01:12,440 --> 00:01:14,720 Speaker 1: probably a couple of different brands, but they're by far 22 00:01:14,920 --> 00:01:17,760 Speaker 1: the most well known and and yeah, I really really 23 00:01:17,800 --> 00:01:19,920 Speaker 1: like them. I have a pair of over the ear 24 00:01:19,959 --> 00:01:22,600 Speaker 1: headphones too that I that I use sometimes, but if 25 00:01:22,600 --> 00:01:25,640 Speaker 1: you're serious listening, I don't want any noises. It just 26 00:01:25,720 --> 00:01:27,720 Speaker 1: kind of depends on what I'm doing, especially if I'm 27 00:01:27,800 --> 00:01:29,760 Speaker 1: riding the bike and I want to listen to something 28 00:01:29,800 --> 00:01:32,040 Speaker 1: like on my bike commute. I love the bone conduction 29 00:01:32,040 --> 00:01:34,880 Speaker 1: headphones for that because you can also hear what's going 30 00:01:34,880 --> 00:01:37,920 Speaker 1: on around you when it comes to pedestrian or carnaways. Yeah, 31 00:01:37,920 --> 00:01:40,200 Speaker 1: it's like having multiple inputs for your for your brain 32 00:01:41,080 --> 00:01:43,000 Speaker 1: in those situations. I just pulled one of my earbuds 33 00:01:43,000 --> 00:01:46,040 Speaker 1: and so I just got there. You go. Both work well. 34 00:01:46,040 --> 00:01:48,040 Speaker 1: The reason I asked is I just got some super 35 00:01:48,120 --> 00:01:51,680 Speaker 1: cheap oh Amazon Lightning Deal earbuds. I've been rocking like 36 00:01:51,720 --> 00:01:53,720 Speaker 1: these old school ones, the kind that like sits over 37 00:01:53,760 --> 00:01:55,800 Speaker 1: your neck and then like the wires come out of 38 00:01:55,840 --> 00:01:58,080 Speaker 1: that thing and then it like loops up and plugs 39 00:01:58,080 --> 00:02:00,200 Speaker 1: into your ears. They still work, but I am not 40 00:02:00,280 --> 00:02:02,080 Speaker 1: able to run with those because the thing kind of 41 00:02:02,080 --> 00:02:03,960 Speaker 1: bounces around on my neck and that your buddsend up 42 00:02:04,000 --> 00:02:06,200 Speaker 1: like popping out of my ear and plus as well. 43 00:02:06,240 --> 00:02:08,560 Speaker 1: I've caught them on my thumbs before, like on my hands, 44 00:02:08,639 --> 00:02:10,400 Speaker 1: and when they're kind of plugged in your ear and 45 00:02:10,400 --> 00:02:13,840 Speaker 1: then you remove them quickly, it is not comfortable and 46 00:02:13,880 --> 00:02:16,000 Speaker 1: it kind of hurts, and actually I think messed up 47 00:02:16,000 --> 00:02:18,000 Speaker 1: you're hearing. Anyway. I wanted to mention that though, because 48 00:02:18,000 --> 00:02:19,680 Speaker 1: I was thinking about it, and this is an instance 49 00:02:19,720 --> 00:02:21,680 Speaker 1: where I was afraid I was gonna go cheap. But 50 00:02:21,720 --> 00:02:24,120 Speaker 1: I feel like when it comes to certain electronics like this, 51 00:02:24,440 --> 00:02:26,760 Speaker 1: it's okay to go a little bit cheaper. Maybe just 52 00:02:26,840 --> 00:02:31,600 Speaker 1: look for the best deal because man, technology becomes obsolete quick, 53 00:02:32,080 --> 00:02:35,120 Speaker 1: especially in like consumer electronics like this, and so in 54 00:02:35,120 --> 00:02:37,360 Speaker 1: this specific instance, I feel this might be an example 55 00:02:37,440 --> 00:02:39,680 Speaker 1: of where it makes sense maybe to go cheap instead 56 00:02:39,680 --> 00:02:41,680 Speaker 1: of going with something higher end. But yeah, what are 57 00:02:41,720 --> 00:02:43,839 Speaker 1: your thoughts? Are you calling me higher end? Is it? Well? Yeah, 58 00:02:43,840 --> 00:02:45,760 Speaker 1: I mean when it comes to sounds like you've got 59 00:02:45,800 --> 00:02:48,840 Speaker 1: a specific brand, you know, after shocks. I don't know 60 00:02:48,840 --> 00:02:51,160 Speaker 1: what those are. It sounds like a type of shot 61 00:02:51,160 --> 00:02:54,360 Speaker 1: guns over in a nice tennishoe When now I just 62 00:02:54,400 --> 00:02:56,400 Speaker 1: heard from people, a few people that are working with 63 00:02:56,480 --> 00:02:58,519 Speaker 1: that that had after shocks and they were like, they're 64 00:02:58,520 --> 00:03:01,040 Speaker 1: really great. They really like having the bone conduction instead 65 00:03:01,080 --> 00:03:03,440 Speaker 1: of just you know, having earbuds that go in your ear. 66 00:03:03,480 --> 00:03:07,040 Speaker 1: And I've always found them uncomfortable anyway, putting earbuds straight in. Yeah, 67 00:03:07,080 --> 00:03:09,560 Speaker 1: oh no, I love those. Ye I hate it, okay, Yeah, 68 00:03:09,600 --> 00:03:11,760 Speaker 1: I feel I feel uncomfortable. So that's why I'm using 69 00:03:11,800 --> 00:03:13,239 Speaker 1: the ones that are either over the year or the 70 00:03:13,240 --> 00:03:16,480 Speaker 1: bone conduction, because I don't like anything in my ear. Yeah, 71 00:03:16,480 --> 00:03:17,880 Speaker 1: I like it just plugged in there to where I 72 00:03:17,880 --> 00:03:19,800 Speaker 1: can't hear anything else, like, because I like to use 73 00:03:19,840 --> 00:03:22,359 Speaker 1: them as kind of like noise cancelation as well. But 74 00:03:22,560 --> 00:03:24,560 Speaker 1: that being said, these don't have noise cancelation. These are 75 00:03:24,560 --> 00:03:27,480 Speaker 1: super cheap thirty bucks literally And that's another thing too, 76 00:03:27,560 --> 00:03:29,880 Speaker 1: is like they're really small and I'm afraid you might 77 00:03:29,919 --> 00:03:31,880 Speaker 1: end up losing them, you know, like Apple makes their 78 00:03:31,919 --> 00:03:35,320 Speaker 1: fancy air pod pros or whatever, um, and you're gonna 79 00:03:35,320 --> 00:03:37,480 Speaker 1: spend tune with thirty bucks on a pair of those. 80 00:03:37,520 --> 00:03:39,680 Speaker 1: I don't know how this don't fall out people's ears. 81 00:03:39,720 --> 00:03:41,720 Speaker 1: I think they have like little inserts in them where 82 00:03:41,720 --> 00:03:43,200 Speaker 1: they kind of like plug in. They don't just like 83 00:03:43,280 --> 00:03:45,400 Speaker 1: rests on the little bowl of your ear. I know, 84 00:03:45,480 --> 00:03:47,760 Speaker 1: I know that but still I was like running or 85 00:03:47,760 --> 00:03:49,680 Speaker 1: something like that. Well, that's the thing. Either way, I'm like, 86 00:03:49,680 --> 00:03:51,600 Speaker 1: I'm not willing to spend that much money on something 87 00:03:51,600 --> 00:03:54,520 Speaker 1: that is that small that a might be obsolete and 88 00:03:54,520 --> 00:03:56,480 Speaker 1: and be like that I might end up losing and 89 00:03:56,640 --> 00:03:58,400 Speaker 1: the quality isn't bad. That's the other thing. I'm not 90 00:03:58,400 --> 00:04:00,920 Speaker 1: willing to spend like eight times more are just on 91 00:04:00,960 --> 00:04:03,320 Speaker 1: something like is it actually eight times better to go 92 00:04:03,360 --> 00:04:05,320 Speaker 1: with the Apple product, even though I'm all about Apple 93 00:04:05,360 --> 00:04:07,520 Speaker 1: products like in this case, No, I'm want to keep 94 00:04:07,600 --> 00:04:10,120 Speaker 1: rocking those l cheap pos unless they break, and then 95 00:04:10,160 --> 00:04:11,960 Speaker 1: I'll let you know, because that's what I've gone, cheap 96 00:04:12,000 --> 00:04:14,760 Speaker 1: and bit being the butts. Yeah, when when it came 97 00:04:14,800 --> 00:04:16,800 Speaker 1: to getting the aftershocks, I just waited on a sale 98 00:04:16,800 --> 00:04:18,840 Speaker 1: because I knew that at some point i'd be able 99 00:04:18,839 --> 00:04:21,800 Speaker 1: to get them forty fifty bucks off and and finally 100 00:04:21,800 --> 00:04:23,440 Speaker 1: it happened, and so I bought them. I was in 101 00:04:23,440 --> 00:04:26,000 Speaker 1: no hurry, in no rush, And sometimes that's how you 102 00:04:26,040 --> 00:04:28,360 Speaker 1: score the best deal on something that you actually really want, 103 00:04:28,640 --> 00:04:31,520 Speaker 1: just waiting around for the price to drop. All right, Matt, 104 00:04:31,560 --> 00:04:33,080 Speaker 1: let's get on to the Friday flight. Let's talk about 105 00:04:33,279 --> 00:04:36,120 Speaker 1: some of the stories that we found interesting this week, 106 00:04:36,440 --> 00:04:38,200 Speaker 1: and we'll get to back to school spending in just 107 00:04:38,240 --> 00:04:40,520 Speaker 1: a second, but before that, I wanted to mention something 108 00:04:40,560 --> 00:04:42,679 Speaker 1: that I know you're going to be excited about. While 109 00:04:42,760 --> 00:04:45,720 Speaker 1: a lot of businesses and retailers are having a tough 110 00:04:45,760 --> 00:04:50,000 Speaker 1: time and some have announced locations closing, all the one 111 00:04:50,040 --> 00:04:54,240 Speaker 1: of your faces is thriving love all right. So I 112 00:04:54,279 --> 00:04:57,280 Speaker 1: just saw a story that seventy all these are set 113 00:04:57,320 --> 00:04:59,839 Speaker 1: to open in the United States this year, all these 114 00:04:59,839 --> 00:05:02,160 Speaker 1: and thirty seven states right now, and pretty soon they're 115 00:05:02,200 --> 00:05:04,200 Speaker 1: going to add another one. They're gonna be in Arizona, 116 00:05:04,200 --> 00:05:05,640 Speaker 1: and they're just gonna be opening up more stores in 117 00:05:05,720 --> 00:05:07,479 Speaker 1: states that they are already in as well. But for 118 00:05:07,560 --> 00:05:09,400 Speaker 1: all of our how to money listeners out in Arizona, 119 00:05:09,800 --> 00:05:12,320 Speaker 1: you're pretty soon gonna be able to shop at the cheapest, 120 00:05:12,400 --> 00:05:14,599 Speaker 1: best grocery store around. Yeah. What I'm afraid of is 121 00:05:14,680 --> 00:05:16,320 Speaker 1: that these all these are going to get too big, 122 00:05:16,360 --> 00:05:18,280 Speaker 1: because I've been into some of the newer ones and 123 00:05:18,400 --> 00:05:20,560 Speaker 1: they are bigger than the one that is closest to 124 00:05:20,560 --> 00:05:23,000 Speaker 1: where we live. And that's one of the benefits is 125 00:05:23,080 --> 00:05:24,440 Speaker 1: that they're so small you can kind of get in 126 00:05:24,480 --> 00:05:25,920 Speaker 1: and out of there. Yeah, I feel like if you, 127 00:05:25,960 --> 00:05:28,120 Speaker 1: if you normally shop at like Kroger or safe Way, 128 00:05:28,440 --> 00:05:30,400 Speaker 1: give all these shot because you'll definitely will be able 129 00:05:30,440 --> 00:05:32,800 Speaker 1: to save some money. In another quick tip, if you've 130 00:05:32,800 --> 00:05:34,200 Speaker 1: never been to an Aldy, make sure you show up 131 00:05:34,200 --> 00:05:37,160 Speaker 1: with your own shopping bag, because they charge you for 132 00:05:37,360 --> 00:05:38,960 Speaker 1: shopping bags there, and that's one of the ways that 133 00:05:38,960 --> 00:05:41,920 Speaker 1: you're able to save money. We use the giant blue 134 00:05:41,920 --> 00:05:44,680 Speaker 1: Ikea bag because you can fit so many groceries in there. 135 00:05:44,760 --> 00:05:47,760 Speaker 1: Nice nice. Yeah, well and actually too, even if you 136 00:05:47,880 --> 00:05:50,200 Speaker 1: don't decide to shop at all the but already shows 137 00:05:50,279 --> 00:05:52,800 Speaker 1: up in your neighborhood, by default, the prices go down 138 00:05:52,839 --> 00:05:54,720 Speaker 1: at the place that you're shopping because of the increased 139 00:05:54,760 --> 00:05:57,440 Speaker 1: levels of competition. So yeah, more all these all around 140 00:05:57,720 --> 00:05:59,880 Speaker 1: is just better for everybody, even if you don't shop 141 00:05:59,880 --> 00:06:02,040 Speaker 1: at Yeah man, makes sense. All right, let's talk about 142 00:06:02,040 --> 00:06:04,960 Speaker 1: some of that back to school spending. Schools almost back 143 00:06:05,200 --> 00:06:07,400 Speaker 1: well sort of right, Like your kid may not even 144 00:06:07,560 --> 00:06:10,000 Speaker 1: need a new backpack because they may not be going 145 00:06:10,120 --> 00:06:12,760 Speaker 1: in person. You know, zoom calls might be what your 146 00:06:12,760 --> 00:06:14,719 Speaker 1: school life looks like for the next few months. But 147 00:06:14,800 --> 00:06:18,479 Speaker 1: the average expected school expenses per family is up this year, 148 00:06:18,520 --> 00:06:20,640 Speaker 1: you know, which I think is in large part due 149 00:06:20,640 --> 00:06:23,720 Speaker 1: to needing to purchase another computer just like you mentioned, Joel. 150 00:06:23,960 --> 00:06:26,400 Speaker 1: But we want to remind folks UH that even if 151 00:06:26,400 --> 00:06:29,000 Speaker 1: you don't feel that you have, you know, the technology, 152 00:06:29,040 --> 00:06:31,360 Speaker 1: the tools to do online school well currently, you don't 153 00:06:31,400 --> 00:06:35,440 Speaker 1: necessarily need to buy a super expensive computer. We'd recommend 154 00:06:35,480 --> 00:06:37,760 Speaker 1: for folks to look at some deal sites like deal 155 00:06:37,800 --> 00:06:41,039 Speaker 1: news or slip deals where you can shop for tech 156 00:06:41,200 --> 00:06:44,800 Speaker 1: bargains ahead of the start of school. And also too, 157 00:06:44,839 --> 00:06:47,040 Speaker 1: don't be afraid if you are looking even to buy 158 00:06:47,200 --> 00:06:50,320 Speaker 1: an Apple product, don't be afraid to buy the refurbished 159 00:06:50,360 --> 00:06:54,520 Speaker 1: items on Apple's website directly. Every single Apple UH desktop 160 00:06:54,560 --> 00:06:57,560 Speaker 1: computer and laptop device that we've ever purchased, Joel Uh. 161 00:06:57,800 --> 00:07:00,560 Speaker 1: Literally ever we have purchased ref Back in the day, 162 00:07:00,600 --> 00:07:02,640 Speaker 1: they used to call it refreshed, but now I saw 163 00:07:02,680 --> 00:07:04,240 Speaker 1: that they just like owned up to it and they're like, 164 00:07:04,279 --> 00:07:07,080 Speaker 1: it's just referb But they've always served us well, and 165 00:07:07,080 --> 00:07:09,400 Speaker 1: we've always been able to save anywhere between like ten 166 00:07:09,560 --> 00:07:13,640 Speaker 1: even upwards, depending on the item that you get. Nice. Yeah, 167 00:07:13,640 --> 00:07:16,200 Speaker 1: and then we actually just spent ninety bucks on some 168 00:07:16,280 --> 00:07:18,920 Speaker 1: power line adapters so that we can have stronger internet 169 00:07:18,960 --> 00:07:20,840 Speaker 1: in the back of our house where we're planning on 170 00:07:20,880 --> 00:07:23,680 Speaker 1: setting up the schooling area. So it's kind of part 171 00:07:23,720 --> 00:07:27,440 Speaker 1: of our additional costs of of school this year, but 172 00:07:27,480 --> 00:07:30,080 Speaker 1: it should make a big difference in reducing the stress 173 00:07:30,160 --> 00:07:32,080 Speaker 1: level that we face as we're trying to kind of 174 00:07:32,120 --> 00:07:34,840 Speaker 1: help our kids succeed in online schooling. And of course, 175 00:07:34,880 --> 00:07:37,360 Speaker 1: like all of our roles as parents, if we have 176 00:07:37,440 --> 00:07:39,800 Speaker 1: kids going to school, it's just ramped up in a 177 00:07:39,800 --> 00:07:42,080 Speaker 1: big way because most of us are helping out with 178 00:07:42,120 --> 00:07:44,720 Speaker 1: the learning and helping out with getting our kids into 179 00:07:44,760 --> 00:07:46,600 Speaker 1: zoom calls and all that kind of stuff a whole 180 00:07:46,600 --> 00:07:48,800 Speaker 1: lot more than we typically would be if they're just 181 00:07:48,840 --> 00:07:51,400 Speaker 1: gone at school. Right. Uh, we've got those unpaid teacher 182 00:07:51,400 --> 00:07:55,080 Speaker 1: assistant positions now, yeah, exactly. So, Yeah, I understand why 183 00:07:55,160 --> 00:07:58,239 Speaker 1: why spending overall for is is up, and that's because 184 00:07:58,280 --> 00:08:00,280 Speaker 1: people need things that they don't typically need in the 185 00:08:00,320 --> 00:08:02,320 Speaker 1: school year. But there are other things I think you 186 00:08:02,360 --> 00:08:05,480 Speaker 1: can forego, like a new backpack because who needs it. Yeah. Well, 187 00:08:05,480 --> 00:08:07,360 Speaker 1: and Jul you know you mentioned that powerline adapter that 188 00:08:07,440 --> 00:08:10,480 Speaker 1: essentially turns your homes electrical system into like a you know, 189 00:08:10,680 --> 00:08:13,880 Speaker 1: working ethernet cable because you plug in the little adapter 190 00:08:13,920 --> 00:08:16,200 Speaker 1: into the wall and it boosts the signal. That's a 191 00:08:16,240 --> 00:08:18,560 Speaker 1: great solution. Something else that we've done is we we 192 00:08:18,600 --> 00:08:21,360 Speaker 1: took an old wireless router and hard wired it to 193 00:08:21,480 --> 00:08:23,240 Speaker 1: our new one, and using that we rant it to 194 00:08:23,280 --> 00:08:25,280 Speaker 1: the other end of our house and we're able to 195 00:08:25,320 --> 00:08:28,360 Speaker 1: turn that wireless router and so basically just another Internet 196 00:08:28,360 --> 00:08:31,360 Speaker 1: access point, and so it blankets the home in solid 197 00:08:31,360 --> 00:08:33,240 Speaker 1: internet coverage. And so if you have like a long, 198 00:08:33,280 --> 00:08:35,840 Speaker 1: skinny house sort of like we do, it allows you 199 00:08:35,880 --> 00:08:38,200 Speaker 1: to not just have internet in the back of the house, 200 00:08:38,240 --> 00:08:40,560 Speaker 1: but also in the front where the offices and the 201 00:08:40,559 --> 00:08:42,880 Speaker 1: girls need to be on the internet. Yeah, during those 202 00:08:42,960 --> 00:08:45,360 Speaker 1: zoom calls for sure. Yeah, and the mesh router WiFi 203 00:08:45,440 --> 00:08:47,600 Speaker 1: mesh routers are kind of all the all the rages 204 00:08:47,640 --> 00:08:50,240 Speaker 1: these days. But those costs like three times as much 205 00:08:50,320 --> 00:08:53,079 Speaker 1: as what we just got. I think it's gonna work better. Um, 206 00:08:53,120 --> 00:08:54,880 Speaker 1: And yeah, you can do it even cheaper if you've 207 00:08:54,880 --> 00:08:57,360 Speaker 1: gotten an older router lying around. Most people do because 208 00:08:57,400 --> 00:08:59,080 Speaker 1: like what are you gonna do with those? You know, Like, 209 00:08:59,200 --> 00:09:00,400 Speaker 1: I feel like a lot of time they're just like 210 00:09:00,400 --> 00:09:03,000 Speaker 1: sitting in closets and they're in that same box that 211 00:09:03,040 --> 00:09:04,760 Speaker 1: you have a bunch of old Ethernet cables, you know, 212 00:09:05,040 --> 00:09:07,240 Speaker 1: and all my old cell phones that I forgot to sell. 213 00:09:07,400 --> 00:09:10,520 Speaker 1: So yeah, uh, Matt, let's talk about tax refunds to 214 00:09:10,840 --> 00:09:12,560 Speaker 1: everyone out there who's filed their tax return but they 215 00:09:12,600 --> 00:09:15,080 Speaker 1: did it more recently and you haven't received your tax 216 00:09:15,080 --> 00:09:18,040 Speaker 1: refund yet, Well, it just heads up. It could take 217 00:09:18,040 --> 00:09:20,480 Speaker 1: a while before that refund gets to you. Last week 218 00:09:20,559 --> 00:09:22,880 Speaker 1: was tax Day delayed by three months, of course, and 219 00:09:22,920 --> 00:09:25,319 Speaker 1: then with COVID shutting down some I r S offices 220 00:09:25,600 --> 00:09:28,160 Speaker 1: and stimulus checks taking up a lot of resources, tax 221 00:09:28,200 --> 00:09:29,840 Speaker 1: refunds are going to be slow to get to people 222 00:09:29,880 --> 00:09:32,920 Speaker 1: this year. So in particular, if you are old school 223 00:09:32,920 --> 00:09:35,760 Speaker 1: and sending in a paper return, you'll be waiting even longer. 224 00:09:36,320 --> 00:09:38,920 Speaker 1: You can check the status of your refund online. Will 225 00:09:38,960 --> 00:09:40,880 Speaker 1: put a link to the I r S website where 226 00:09:40,920 --> 00:09:42,760 Speaker 1: you can do that in the show notes. But the 227 00:09:42,840 --> 00:09:46,720 Speaker 1: great thing is that if your if your refund is delayed, 228 00:09:46,760 --> 00:09:48,040 Speaker 1: the I R S is going to be paying you 229 00:09:48,120 --> 00:09:50,839 Speaker 1: interest on those refunds that they weren't able to get 230 00:09:50,880 --> 00:09:53,880 Speaker 1: out in a timely manner. Yeah, so it might be 231 00:09:53,880 --> 00:09:56,599 Speaker 1: a bummer, and especially right now where so many Americans 232 00:09:56,600 --> 00:09:59,880 Speaker 1: have a reduced income, that tax refund is something that 233 00:10:00,280 --> 00:10:03,080 Speaker 1: they're in all likelihood wanting quickly, and the stakes are 234 00:10:03,080 --> 00:10:04,760 Speaker 1: going to be delayed. But at least, yeah, there's that 235 00:10:04,800 --> 00:10:07,280 Speaker 1: silver lining that you might get paid some additional interest 236 00:10:07,400 --> 00:10:09,440 Speaker 1: on that refund money. Yeah, and actually saw that the 237 00:10:09,480 --> 00:10:12,080 Speaker 1: interests that they're paying is actually pretty great. Uh, they're 238 00:10:12,080 --> 00:10:15,640 Speaker 1: paying five percent for April through June, and then starting 239 00:10:15,640 --> 00:10:17,640 Speaker 1: in July they're only paying three percent, but still three 240 00:10:17,640 --> 00:10:20,800 Speaker 1: percent is huge compared to what the online high interest 241 00:10:20,800 --> 00:10:23,319 Speaker 1: Savings accounts what they're offering. And so it's actually not 242 00:10:23,440 --> 00:10:25,480 Speaker 1: a terrible thing that that money's sitting there with the 243 00:10:25,480 --> 00:10:27,560 Speaker 1: I R S and JO. Speaking of taxes, let's talk 244 00:10:27,600 --> 00:10:31,400 Speaker 1: about property taxes. Some local cities and towns are offering 245 00:10:31,400 --> 00:10:35,400 Speaker 1: extensions to pay property taxes, and even some states like Idaho, 246 00:10:35,440 --> 00:10:38,600 Speaker 1: they have set up property tax relief funds to provide 247 00:10:38,640 --> 00:10:41,440 Speaker 1: aid to those who can't currently afford to pay. And 248 00:10:41,480 --> 00:10:43,640 Speaker 1: so if you're having trouble, you know, paying that property 249 00:10:43,760 --> 00:10:47,320 Speaker 1: tax bill, be sure to contact your local tax assessor's office. 250 00:10:47,760 --> 00:10:49,880 Speaker 1: The same thing is true with homeowners insurance. A lot 251 00:10:49,880 --> 00:10:52,480 Speaker 1: of providers aren't necessarily advertising that this is something that 252 00:10:52,480 --> 00:10:55,160 Speaker 1: they're doing. But reach out to both your tax office 253 00:10:55,240 --> 00:10:57,520 Speaker 1: and your insurance company and see if that's something that 254 00:10:57,559 --> 00:10:59,840 Speaker 1: you can negotiate, because there might be some relief there 255 00:11:00,000 --> 00:11:02,040 Speaker 1: for you. Yeah, Matt, we've tried to cover on the 256 00:11:02,080 --> 00:11:05,800 Speaker 1: show everything that you can do to postpone payments on 257 00:11:05,920 --> 00:11:10,120 Speaker 1: your mortgage, on property taxes now, and on your car loan. 258 00:11:10,280 --> 00:11:12,240 Speaker 1: I mean, there are just so many ways that you 259 00:11:12,320 --> 00:11:14,640 Speaker 1: can get relief because of COVID, And if you think 260 00:11:14,640 --> 00:11:16,640 Speaker 1: your job is at risk or you have lost your job, 261 00:11:16,640 --> 00:11:18,640 Speaker 1: it's important to take advantage of as many of these 262 00:11:18,640 --> 00:11:20,640 Speaker 1: things as you can because that's going to keep your 263 00:11:20,679 --> 00:11:23,480 Speaker 1: emergency fund intact. That's gonna allow you to continue to 264 00:11:23,559 --> 00:11:26,560 Speaker 1: buy groceries and keep the lights on, that kind of stuff. So, yeah, 265 00:11:26,559 --> 00:11:28,720 Speaker 1: everything that Man and I hear about, we're gonna relay 266 00:11:28,760 --> 00:11:30,560 Speaker 1: it on the show because we want you to be 267 00:11:30,640 --> 00:11:33,640 Speaker 1: okay financially, and so much of that means taking advantage 268 00:11:33,679 --> 00:11:35,760 Speaker 1: of what's being offered. And Matt, on that note, let's 269 00:11:35,760 --> 00:11:37,880 Speaker 1: talk about getting out of a lease. It looks like 270 00:11:37,920 --> 00:11:40,360 Speaker 1: the new stimulus bill it's probably not gonna be passed 271 00:11:40,440 --> 00:11:43,240 Speaker 1: until sometime in August. That remains to be seen, but 272 00:11:43,280 --> 00:11:45,679 Speaker 1: a lot of people could use a direct payment right 273 00:11:45,679 --> 00:11:47,560 Speaker 1: now to help out with things like rent, and the 274 00:11:47,640 --> 00:11:51,400 Speaker 1: numbers reflected that almost twenty million Americans are at risk 275 00:11:51,440 --> 00:11:54,760 Speaker 1: of eviction before the end of September. That's pretty awful, right, 276 00:11:54,760 --> 00:11:57,840 Speaker 1: But some states are offering a moratorium on evictions, which 277 00:11:57,880 --> 00:12:01,520 Speaker 1: of course helps the most vulnerable among in so many locations, 278 00:12:01,720 --> 00:12:04,360 Speaker 1: but other states have not extended that deadline. So depending 279 00:12:04,360 --> 00:12:06,440 Speaker 1: on where you live, your landlord might not be able 280 00:12:06,520 --> 00:12:08,160 Speaker 1: to evict you, and then in other states if you 281 00:12:08,200 --> 00:12:10,280 Speaker 1: just don't have that protection. So it's important to know 282 00:12:10,320 --> 00:12:13,440 Speaker 1: your rights. It's important to see exactly what your states 283 00:12:13,520 --> 00:12:16,960 Speaker 1: government has said about eviction proceedings and whether or not 284 00:12:17,000 --> 00:12:20,719 Speaker 1: your landlord can begin the eviction process. If you're having 285 00:12:20,760 --> 00:12:22,679 Speaker 1: a hard time paying your rent right now, yeah, if 286 00:12:22,679 --> 00:12:24,559 Speaker 1: that's the situation that you are in, it is certainly 287 00:12:24,600 --> 00:12:26,520 Speaker 1: good to know what the laws are in your states. 288 00:12:26,640 --> 00:12:29,679 Speaker 1: But then beyond that, next we would recommend for you 289 00:12:29,720 --> 00:12:33,000 Speaker 1: to have a frank conversation with your landlord. Uh. You know, 290 00:12:33,000 --> 00:12:36,080 Speaker 1: when tenants don't respond to the ghost or landlord, chances 291 00:12:36,120 --> 00:12:38,920 Speaker 1: of working things out in a mutually beneficial way like 292 00:12:38,960 --> 00:12:42,400 Speaker 1: that massively decreases. But if you have been communicating and 293 00:12:42,440 --> 00:12:44,480 Speaker 1: you've been a good tenant, the chances are that they 294 00:12:44,480 --> 00:12:46,720 Speaker 1: will do their best to work with you through this 295 00:12:46,760 --> 00:12:49,640 Speaker 1: difficult time. If you're doing your best there, you never know, 296 00:12:49,720 --> 00:12:51,640 Speaker 1: you might even be able to ask for for new 297 00:12:51,760 --> 00:12:54,120 Speaker 1: terms even Yeah, Matt, I don't know what you've seen 298 00:12:54,480 --> 00:12:56,959 Speaker 1: with your tenants, you know. I tried to communicate early 299 00:12:57,000 --> 00:13:00,440 Speaker 1: and often with mine throughout the pandemic as things are 300 00:13:00,440 --> 00:13:03,040 Speaker 1: getting crazy and people were losing their jobs or or 301 00:13:03,200 --> 00:13:05,920 Speaker 1: having unstable income. And one of my tenants was about 302 00:13:05,920 --> 00:13:08,600 Speaker 1: and sign a new lease and she just felt uncomfortable 303 00:13:08,800 --> 00:13:11,160 Speaker 1: going into another year long lease, and I totally understood, 304 00:13:11,360 --> 00:13:12,679 Speaker 1: but she's been a great tenant and I want to 305 00:13:12,760 --> 00:13:15,080 Speaker 1: keep her around. So we're we've gone month to month, 306 00:13:15,280 --> 00:13:18,160 Speaker 1: and we were able to work out a reduced rent 307 00:13:18,200 --> 00:13:20,679 Speaker 1: amount too, And also we just decided to do away 308 00:13:20,679 --> 00:13:22,559 Speaker 1: with late fees for the time being, because sometimes you 309 00:13:22,559 --> 00:13:24,920 Speaker 1: can't pay rent until the tenth or eleventh of the month. 310 00:13:25,200 --> 00:13:28,120 Speaker 1: And that's okay for me right now, because things are crazy, 311 00:13:28,280 --> 00:13:30,320 Speaker 1: right and so we all just have to do our best. 312 00:13:30,600 --> 00:13:33,800 Speaker 1: But landlords and tenants should be working together to find 313 00:13:33,880 --> 00:13:38,120 Speaker 1: terms that work for everybody moving forward. Yeah, that's totally true. Man. However, 314 00:13:38,200 --> 00:13:39,880 Speaker 1: you know, if you do find yourself in a position 315 00:13:39,960 --> 00:13:41,960 Speaker 1: where you can't afford the rent, or you know you 316 00:13:42,000 --> 00:13:44,280 Speaker 1: need to move somewhere else that's maybe a little more affordable, 317 00:13:44,760 --> 00:13:46,920 Speaker 1: you can also give a thirty day notice that you 318 00:13:47,000 --> 00:13:49,760 Speaker 1: are leaving and offer to help your landlord find another 319 00:13:49,800 --> 00:13:53,400 Speaker 1: suitable tenant. You might receive threats that you'll owe rent 320 00:13:53,440 --> 00:13:55,800 Speaker 1: for the entirety of the lease that you originally signed 321 00:13:55,840 --> 00:13:58,760 Speaker 1: and agreed to, but most states require that the landlord 322 00:13:58,960 --> 00:14:01,800 Speaker 1: worked to fund a new and mitigate that damage. And 323 00:14:01,800 --> 00:14:04,360 Speaker 1: so again, this is another situation where it is helpful 324 00:14:04,400 --> 00:14:07,120 Speaker 1: to know what your specific states laws are, but know 325 00:14:07,320 --> 00:14:10,160 Speaker 1: that this is a common rule in most states. Yeah, Matt, 326 00:14:10,200 --> 00:14:12,959 Speaker 1: you said mitigate the damages, and what that means is 327 00:14:13,240 --> 00:14:15,720 Speaker 1: that the landlord is required to try to find a 328 00:14:15,760 --> 00:14:18,760 Speaker 1: new tenant to take over your lease and to get 329 00:14:18,800 --> 00:14:21,080 Speaker 1: somebody else living in the house as quickly as possible. 330 00:14:21,320 --> 00:14:23,720 Speaker 1: Like you said, right, there's a lot that an individual 331 00:14:23,720 --> 00:14:26,480 Speaker 1: tenant can do to help that process along by listing 332 00:14:26,520 --> 00:14:29,000 Speaker 1: the property and trying to help the landlord find somebody 333 00:14:29,040 --> 00:14:31,840 Speaker 1: to fill the shoes that you were in. But it's 334 00:14:31,840 --> 00:14:34,760 Speaker 1: so important for tenants to know that while you could 335 00:14:34,760 --> 00:14:36,360 Speaker 1: be on the hook for the rest of the least 336 00:14:36,400 --> 00:14:38,600 Speaker 1: if your landlord isn't able to find somebody to take over, 337 00:14:38,800 --> 00:14:40,920 Speaker 1: if there is decent demand in your area, this might 338 00:14:40,960 --> 00:14:43,200 Speaker 1: just be the best move that you have is turning 339 00:14:43,200 --> 00:14:46,240 Speaker 1: in that thirty day notice and leaving the property and 340 00:14:46,280 --> 00:14:48,720 Speaker 1: helping the landlord find somebody else to take over. If 341 00:14:48,760 --> 00:14:50,480 Speaker 1: you have to move in with friends or family in 342 00:14:50,600 --> 00:14:52,680 Speaker 1: order to lower your housing costs in a massive way, 343 00:14:52,960 --> 00:14:54,360 Speaker 1: this is kind of a gamble, but it might be 344 00:14:54,400 --> 00:14:57,040 Speaker 1: the best thing that you can do for yourself, yeah, man. 345 00:14:57,200 --> 00:15:00,320 Speaker 1: And also the National Low Income Housing a Lot Alliance. 346 00:15:00,840 --> 00:15:03,240 Speaker 1: They have a list of resources state by state that 347 00:15:03,280 --> 00:15:06,680 Speaker 1: you can turn to four rental assistance if you're struggling 348 00:15:06,760 --> 00:15:08,640 Speaker 1: right now, and we'll make sure to link to that 349 00:15:08,760 --> 00:15:11,000 Speaker 1: in our show notes. And on the housing note, let's 350 00:15:11,000 --> 00:15:14,000 Speaker 1: talk about mortgage rates and some of the nuances you 351 00:15:14,000 --> 00:15:17,080 Speaker 1: need to consider if you are considering refinancing a mortgage, 352 00:15:17,280 --> 00:15:18,840 Speaker 1: if that's on the table for you, and we'll get 353 00:15:18,880 --> 00:15:30,680 Speaker 1: to that right after the break. All right, we're back 354 00:15:30,720 --> 00:15:33,160 Speaker 1: from the break, Matt. We were just talking about preventing 355 00:15:33,320 --> 00:15:35,840 Speaker 1: eviction and let's talk about like the flip side of 356 00:15:35,880 --> 00:15:37,840 Speaker 1: housing for people who own a home or are looking 357 00:15:37,840 --> 00:15:40,480 Speaker 1: to buy a home soon. Mortgage rates kind of just 358 00:15:40,560 --> 00:15:43,000 Speaker 1: hit a magical level where you can get a mortgage 359 00:15:43,080 --> 00:15:46,600 Speaker 1: right below three, which is just incredible. Yeah, it's been 360 00:15:46,600 --> 00:15:48,480 Speaker 1: a long time since we've had rates that lad. I 361 00:15:48,480 --> 00:15:50,280 Speaker 1: think it's been like fifty years since we've dipped under 362 00:15:50,320 --> 00:15:52,720 Speaker 1: the threes. Yeah, pretty nut to think you can borrow 363 00:15:52,760 --> 00:15:55,440 Speaker 1: money at two point seven five percent or two point 364 00:15:55,480 --> 00:15:58,480 Speaker 1: eight seven five percent for thirty years, right, And there 365 00:15:58,480 --> 00:16:01,120 Speaker 1: are a lot of people who would be well served 366 00:16:01,160 --> 00:16:03,560 Speaker 1: by refinancing right now with a bank, credit union, or 367 00:16:03,600 --> 00:16:06,200 Speaker 1: an online lender. It's so important, though, to think about 368 00:16:06,240 --> 00:16:09,280 Speaker 1: your specific situation. I had a friend recently reach out. 369 00:16:09,480 --> 00:16:12,280 Speaker 1: She's gonna sell her home in probably less than a year, 370 00:16:12,360 --> 00:16:15,240 Speaker 1: and she's thinking about refinancing, And I was like, no, no, no, no, no, 371 00:16:15,280 --> 00:16:17,600 Speaker 1: you probably don't. Not for you, Yeah, because you're gonna 372 00:16:17,640 --> 00:16:19,880 Speaker 1: pay thousands and thousands of dollars in closing costs in 373 00:16:20,000 --> 00:16:22,240 Speaker 1: order to make that happen. So a good question to 374 00:16:22,280 --> 00:16:24,600 Speaker 1: ask yourself is are you planning on being in the 375 00:16:24,600 --> 00:16:26,720 Speaker 1: home for a while to come right, Because it doesn't 376 00:16:26,760 --> 00:16:28,880 Speaker 1: make sense if you're not going to be there typically 377 00:16:28,920 --> 00:16:31,200 Speaker 1: for at least three years, more like five years in 378 00:16:31,200 --> 00:16:33,320 Speaker 1: a lot of cases, depending on what your rate is, 379 00:16:33,360 --> 00:16:35,640 Speaker 1: and depending on what the closing costs are associated with 380 00:16:35,640 --> 00:16:37,800 Speaker 1: that refi because they are all these fees like the 381 00:16:37,840 --> 00:16:40,800 Speaker 1: appraisal title fees and other loan fees like underwriting and 382 00:16:40,800 --> 00:16:44,680 Speaker 1: origination fees. Those can make refinancing cost prohibitive if you're 383 00:16:44,680 --> 00:16:46,600 Speaker 1: not getting a big enough cut and interest rate and 384 00:16:46,600 --> 00:16:48,520 Speaker 1: you're not gonna be able to realize it over a 385 00:16:48,560 --> 00:16:50,480 Speaker 1: long period of time. Yeah, that's true, man, There are 386 00:16:50,480 --> 00:16:52,920 Speaker 1: a lot of costs associated with refinancing. But what about 387 00:16:53,000 --> 00:16:56,040 Speaker 1: no closing costs refinances? Those seem to be getting more 388 00:16:56,080 --> 00:16:58,160 Speaker 1: steam right now. And basically the way those work is 389 00:16:58,200 --> 00:17:00,600 Speaker 1: that instead of paying out of pocket for the and costs, 390 00:17:00,640 --> 00:17:03,120 Speaker 1: which can be anywhere between one and four percent of 391 00:17:03,120 --> 00:17:06,440 Speaker 1: the overall loan amount, those costs get rolled into the 392 00:17:06,480 --> 00:17:09,760 Speaker 1: mortgage balance or you'll you know, possibly end up with 393 00:17:09,800 --> 00:17:13,120 Speaker 1: a higher than market interest rate. And so typically you'll 394 00:17:13,119 --> 00:17:15,720 Speaker 1: get the best overall terms when you opt not to 395 00:17:15,800 --> 00:17:18,320 Speaker 1: go with a no closing cost mortgage refinance. But it 396 00:17:18,359 --> 00:17:21,200 Speaker 1: could make sense in particular if you don't have immediate 397 00:17:21,200 --> 00:17:23,200 Speaker 1: access to the cash and you're wanting to jump on 398 00:17:23,200 --> 00:17:25,720 Speaker 1: those really low rates. But especially you know, in the 399 00:17:25,760 --> 00:17:28,359 Speaker 1: situation until that you mentioned, this would have maybe worked 400 00:17:28,359 --> 00:17:30,359 Speaker 1: for her. You know, if you don't plan to be 401 00:17:30,400 --> 00:17:32,840 Speaker 1: in the house very long, opting for you know, a 402 00:17:32,880 --> 00:17:35,600 Speaker 1: slightly higher than market rate, assuming that it's still lower 403 00:17:35,640 --> 00:17:38,040 Speaker 1: than what you currently have, and then going the no 404 00:17:38,160 --> 00:17:40,879 Speaker 1: closing cost route can make sense because effectively you're not 405 00:17:40,960 --> 00:17:43,800 Speaker 1: realizing all of those expenses right then and there. It 406 00:17:43,840 --> 00:17:45,400 Speaker 1: kind of gets spread out over the life of the loan, 407 00:17:45,600 --> 00:17:47,000 Speaker 1: and if you know you're gonna move out soon, well 408 00:17:47,040 --> 00:17:49,520 Speaker 1: that's something to consider. Yeah, and again, knowing that there 409 00:17:49,520 --> 00:17:53,040 Speaker 1: are multiple flavors of no closing cost mortgages, that's that's 410 00:17:53,080 --> 00:17:55,280 Speaker 1: something I actually discussed with her. I was like, if 411 00:17:55,280 --> 00:17:58,520 Speaker 1: you're just paying an above market rate, but it's lower 412 00:17:58,520 --> 00:18:01,280 Speaker 1: than what you currently have, then there's like no harm 413 00:18:01,359 --> 00:18:04,119 Speaker 1: in doing that no closing cost refi. But if it 414 00:18:04,160 --> 00:18:05,879 Speaker 1: adds a whole lot more of the loan balance at 415 00:18:05,920 --> 00:18:09,000 Speaker 1: the same time, then it doesn't make sense. Right. Uh So, 416 00:18:09,200 --> 00:18:12,119 Speaker 1: something else to consider is whether or not you even 417 00:18:12,200 --> 00:18:14,639 Speaker 1: qualify to do a refinance. This can be one of 418 00:18:14,640 --> 00:18:16,760 Speaker 1: the issues that comes up if you're recently unemployed or 419 00:18:16,800 --> 00:18:19,880 Speaker 1: if you're self employed. But it's slightly affecting a lot 420 00:18:19,960 --> 00:18:23,159 Speaker 1: more individuals these days because of coronavirus and with banks 421 00:18:23,200 --> 00:18:25,840 Speaker 1: tightening up on lending standards. So if you've had a 422 00:18:25,920 --> 00:18:28,240 Speaker 1: salary cut, you're just not making as much as you 423 00:18:28,359 --> 00:18:31,040 Speaker 1: used to, then it's likely that the debt to income 424 00:18:31,119 --> 00:18:34,640 Speaker 1: ratio that lenders use when deciding whether an applicant qualifies 425 00:18:34,720 --> 00:18:36,560 Speaker 1: or not, that those ratios are a little out of 426 00:18:36,560 --> 00:18:39,560 Speaker 1: whack for you. A refi or even a new loan 427 00:18:39,680 --> 00:18:42,200 Speaker 1: that you might have qualified for a year ago might 428 00:18:42,240 --> 00:18:44,199 Speaker 1: be out of reach, or the interest rate might not 429 00:18:44,240 --> 00:18:46,399 Speaker 1: be the lowest that's available on the market right, and 430 00:18:46,400 --> 00:18:49,600 Speaker 1: that's a bummer, But there are ways around this for you. 431 00:18:49,840 --> 00:18:51,879 Speaker 1: For instance, you could bring more money to the closing 432 00:18:51,920 --> 00:18:54,119 Speaker 1: table if you have that cash on hand. That's just 433 00:18:54,240 --> 00:18:56,879 Speaker 1: something to keep in mind if you've been financially impacted 434 00:18:56,920 --> 00:18:59,680 Speaker 1: by COVID. It's important to kind of have an idea 435 00:18:59,760 --> 00:19:02,560 Speaker 1: when you're submitting an application for a REFI of the 436 00:19:02,640 --> 00:19:04,360 Speaker 1: terms you think you're going to be able to qualify 437 00:19:04,440 --> 00:19:07,680 Speaker 1: for based on your income, based on your debt, and 438 00:19:07,760 --> 00:19:10,200 Speaker 1: based on your credit score. Yeah, man, you know, that's 439 00:19:10,240 --> 00:19:12,639 Speaker 1: actually a situation that Kate and I that we're finding 440 00:19:12,640 --> 00:19:15,600 Speaker 1: ourselves in right being self employed. We've seen our income 441 00:19:15,680 --> 00:19:17,679 Speaker 1: drop because guess what, man, there aren't a whole lot 442 00:19:17,680 --> 00:19:19,800 Speaker 1: of big in person weddings happening in a lot of 443 00:19:19,840 --> 00:19:22,840 Speaker 1: small backyard elopements, and we were not expecting to see 444 00:19:22,880 --> 00:19:26,520 Speaker 1: that impact our ability to potentially refi a property. So 445 00:19:26,560 --> 00:19:28,120 Speaker 1: in our case yet, we we've kind of been talking 446 00:19:28,119 --> 00:19:31,840 Speaker 1: about potentially looking to maybe even focus on paying down 447 00:19:32,160 --> 00:19:34,720 Speaker 1: a mortgage of an investment property a little bit early. 448 00:19:35,119 --> 00:19:37,520 Speaker 1: But that's something we can maybe say for another episode 449 00:19:37,560 --> 00:19:40,120 Speaker 1: because there's kind of a whole lot of psychological things 450 00:19:40,119 --> 00:19:41,840 Speaker 1: to kind of talk about when it comes to that 451 00:19:41,880 --> 00:19:44,720 Speaker 1: as well. I'm not a psychologist, but I'll dive deep. 452 00:19:45,040 --> 00:19:47,800 Speaker 1: That's the hard questions, uh, Matt. Another thing too, I 453 00:19:47,800 --> 00:19:50,400 Speaker 1: think people are actually doing early you know you said 454 00:19:50,440 --> 00:19:53,080 Speaker 1: you might pay off your mortgage early. Well, other people 455 00:19:53,160 --> 00:19:56,440 Speaker 1: are actually pursuing buying a house earlier than they otherwise 456 00:19:56,440 --> 00:19:58,359 Speaker 1: would have because the rates are so low. And I 457 00:19:58,400 --> 00:20:00,080 Speaker 1: think for for a lot of our listeners who have 458 00:20:00,119 --> 00:20:02,440 Speaker 1: put themselves in a good financial position and they were like, yeah, 459 00:20:02,440 --> 00:20:03,920 Speaker 1: I might buy a home in the next two years, 460 00:20:04,359 --> 00:20:06,880 Speaker 1: But I don't think right now, with rates being so low, 461 00:20:06,920 --> 00:20:10,680 Speaker 1: I could understand why they might be interested in accelerating 462 00:20:11,000 --> 00:20:14,040 Speaker 1: that decision. And I think sometimes like market conditions, right, 463 00:20:14,040 --> 00:20:16,640 Speaker 1: getting something on sale or getting a better value like 464 00:20:17,160 --> 00:20:19,280 Speaker 1: locking in a thirty year mortgage at two point eight 465 00:20:19,320 --> 00:20:21,440 Speaker 1: seven vibe or something like that, can make it worthwhile 466 00:20:21,480 --> 00:20:23,320 Speaker 1: to bump your plans up. But I think only if 467 00:20:23,359 --> 00:20:26,119 Speaker 1: you're underlying financials are in a really, really good place, 468 00:20:26,520 --> 00:20:28,199 Speaker 1: that is when I would say, yeah, I go for it, 469 00:20:28,240 --> 00:20:30,640 Speaker 1: bump up that timeline and make it happen. That's right, man. 470 00:20:30,760 --> 00:20:32,679 Speaker 1: And one other thing we wanted to cover we saw 471 00:20:33,200 --> 00:20:36,920 Speaker 1: that consumer choice it is vanishing due to the coronavirus. 472 00:20:37,160 --> 00:20:40,080 Speaker 1: We're seeing fewer options and lots of different areas, ranging 473 00:20:40,119 --> 00:20:43,280 Speaker 1: from grocery stores to restaurants and even to auto and 474 00:20:43,480 --> 00:20:46,399 Speaker 1: motorcycle manufacturers. A lot of this has to do with 475 00:20:46,440 --> 00:20:49,639 Speaker 1: the fact that there there have been just supply chain bottlenecks, 476 00:20:49,680 --> 00:20:52,480 Speaker 1: you know, and manufacturers an ability to really just get 477 00:20:52,520 --> 00:20:55,679 Speaker 1: goods and parts two retailers. So you know, it's partly 478 00:20:55,680 --> 00:20:59,400 Speaker 1: a business decision, as businesses are focusing on just trying 479 00:20:59,400 --> 00:21:01,320 Speaker 1: to keep up with the high demand you know, they're 480 00:21:01,320 --> 00:21:04,120 Speaker 1: they're looking to just keep the basic items on the shelves. 481 00:21:04,200 --> 00:21:07,080 Speaker 1: You know, who cares about all the different varieties of 482 00:21:07,200 --> 00:21:09,480 Speaker 1: you know, fat free potato chips or all the different 483 00:21:09,520 --> 00:21:11,200 Speaker 1: kinds of motorcycles that they used to sell, and they're 484 00:21:11,240 --> 00:21:13,240 Speaker 1: just trying to look to maintain some of the basics. 485 00:21:13,480 --> 00:21:15,159 Speaker 1: Some of those companies are looking to cut some of 486 00:21:15,200 --> 00:21:17,760 Speaker 1: those zombie brands right that aren't making a whole lot 487 00:21:17,800 --> 00:21:19,720 Speaker 1: of money. So, you know, don't be surprised if you 488 00:21:19,800 --> 00:21:23,080 Speaker 1: don't see your odd walla smoothiejuice on the shelves next 489 00:21:23,119 --> 00:21:26,080 Speaker 1: time you go to the grocery store. Oh, man, I 490 00:21:26,080 --> 00:21:29,040 Speaker 1: hope there's one thing that I tried recently. My dad 491 00:21:29,080 --> 00:21:31,159 Speaker 1: had some at the house. It was a combination of 492 00:21:31,280 --> 00:21:33,920 Speaker 1: dr pepper and cream soda that shouldn't exist. Man, that's 493 00:21:33,920 --> 00:21:35,800 Speaker 1: one of those things I think they should cut from 494 00:21:35,840 --> 00:21:38,920 Speaker 1: the rotation. It was terrible. Apparently my young nephew really 495 00:21:38,960 --> 00:21:42,080 Speaker 1: likes it. Uh. But from a consumer's point of view, Matt, 496 00:21:42,160 --> 00:21:45,080 Speaker 1: I think things aren't super stable on the income front 497 00:21:45,080 --> 00:21:46,680 Speaker 1: for a lot of us right as we've been talking about, 498 00:21:46,720 --> 00:21:49,040 Speaker 1: so it's natural to see a shift towards kind of 499 00:21:49,080 --> 00:21:52,520 Speaker 1: the basics compared to just the endless options that we 500 00:21:52,600 --> 00:21:54,200 Speaker 1: used to have. A lot of the country is taken 501 00:21:54,240 --> 00:21:56,600 Speaker 1: kind of a batten down the hatches approach, and they're 502 00:21:56,640 --> 00:22:00,200 Speaker 1: finding ways to reduce their spending and so skipping super 503 00:22:00,240 --> 00:22:04,280 Speaker 1: niche things like organic toilet paper or whatever. Altogether. It's 504 00:22:04,359 --> 00:22:07,320 Speaker 1: it's one of the natural consequences of economic uncertainty, and 505 00:22:07,359 --> 00:22:10,320 Speaker 1: it makes sense that certain companies might be limiting their offerings. 506 00:22:10,480 --> 00:22:12,520 Speaker 1: And part of the reason I think this is actually 507 00:22:12,760 --> 00:22:16,400 Speaker 1: a really good thing is that decision fatigue is real, 508 00:22:16,480 --> 00:22:18,760 Speaker 1: and it affects us all right. With with so much 509 00:22:18,760 --> 00:22:20,520 Speaker 1: going on all around us in our lives and the 510 00:22:20,560 --> 00:22:23,480 Speaker 1: economy and just kind of general uncertainty, We're living in 511 00:22:23,480 --> 00:22:26,000 Speaker 1: a typical times, and I'm sure most folks are actually 512 00:22:26,080 --> 00:22:28,439 Speaker 1: searching for ways to reduce the number of decisions that 513 00:22:28,520 --> 00:22:30,720 Speaker 1: they have to make in daily life, to provide a 514 00:22:30,720 --> 00:22:32,880 Speaker 1: little ease and a little piece And I think having 515 00:22:32,960 --> 00:22:35,639 Speaker 1: fewer decisions at the grocery store, fewer decisions with the 516 00:22:35,720 --> 00:22:38,440 Speaker 1: things that we are on shelves that we might consider buying, 517 00:22:38,920 --> 00:22:40,920 Speaker 1: is actually better for our brains. I think it's helpful 518 00:22:40,920 --> 00:22:42,960 Speaker 1: to fewer decisions. Oh yeah, man, I'm always looking for 519 00:22:43,200 --> 00:22:45,399 Speaker 1: ways to put things in my life on autopilot. And 520 00:22:45,440 --> 00:22:47,440 Speaker 1: plus you know the health risks as well. I don't 521 00:22:47,480 --> 00:22:48,879 Speaker 1: forget those like who wants to spend a ton of 522 00:22:48,920 --> 00:22:52,040 Speaker 1: time in the grocery store debating their different options when 523 00:22:52,040 --> 00:22:54,800 Speaker 1: you've got like another shopper without a mask on breathing 524 00:22:54,800 --> 00:22:57,199 Speaker 1: down your neck. You know, we mentioned all the at 525 00:22:57,200 --> 00:22:59,280 Speaker 1: the beginning of the show, Like, that's another one of 526 00:22:59,280 --> 00:23:01,640 Speaker 1: the huge was going with Ald, Like you really can 527 00:23:01,760 --> 00:23:04,080 Speaker 1: be in and out of there in one minutes. Like 528 00:23:04,200 --> 00:23:05,959 Speaker 1: I feel like I mentioned that before in the show, Like, 529 00:23:06,000 --> 00:23:07,760 Speaker 1: but one of these times, I really I'm gonna time myself. 530 00:23:08,560 --> 00:23:10,600 Speaker 1: I wanna hit hit go on the stop bots, gonna 531 00:23:10,640 --> 00:23:12,920 Speaker 1: run in and grab milk and eggs, which is oftentimes 532 00:23:12,960 --> 00:23:14,840 Speaker 1: what we need right just like to restock for the 533 00:23:14,880 --> 00:23:16,919 Speaker 1: week and get out of there and see how long 534 00:23:16,960 --> 00:23:19,160 Speaker 1: and it can actually take. But like, I love how 535 00:23:19,200 --> 00:23:21,399 Speaker 1: small those all these stores are, because you really can 536 00:23:21,520 --> 00:23:23,919 Speaker 1: make it happen so quickly. Yeah, and you realize too 537 00:23:23,960 --> 00:23:26,080 Speaker 1: when you're shopping at all the oh, I didn't really 538 00:23:26,119 --> 00:23:31,960 Speaker 1: need twelve different kinds of all the different options. Yeah, yeah, exactly, 539 00:23:32,000 --> 00:23:33,719 Speaker 1: So I agree. That's one of the things I love 540 00:23:33,760 --> 00:23:36,359 Speaker 1: about aldi is that you don't have the decision fatigue 541 00:23:36,359 --> 00:23:38,080 Speaker 1: that comes from going to the grocery store and it 542 00:23:38,119 --> 00:23:40,080 Speaker 1: doesn't take nearly as long. Yeah, I'm with you. You 543 00:23:40,119 --> 00:23:42,320 Speaker 1: don't have to devote an afternoon of your weekend to 544 00:23:42,400 --> 00:23:47,359 Speaker 1: go into Costco. All right, I'm done with you. Our 545 00:23:47,400 --> 00:23:50,760 Speaker 1: friendship is over. Uh you wish you can't. You can't 546 00:23:50,800 --> 00:23:52,800 Speaker 1: hate on Costco, man and get away with it? Not 547 00:23:52,800 --> 00:23:55,320 Speaker 1: not on this podcast. Now. They're both great, Man, They're 548 00:23:55,320 --> 00:23:58,000 Speaker 1: just great for different reasons. For instance, I really appreciate 549 00:23:58,080 --> 00:24:00,199 Speaker 1: that cooler backpack that you guys picked up for us 550 00:24:00,320 --> 00:24:02,399 Speaker 1: the last time you're at Costco. That thing's been clutch 551 00:24:02,520 --> 00:24:04,919 Speaker 1: the summer. Yeah, it's uh, it's pretty helpful, isn't it 552 00:24:05,000 --> 00:24:07,720 Speaker 1: super helpful? All right? Well, that's gonna do it for 553 00:24:07,800 --> 00:24:10,199 Speaker 1: this episode. If you want the show notes, including a 554 00:24:10,240 --> 00:24:12,439 Speaker 1: link to those adapters that I bought, they're gonna massively 555 00:24:12,480 --> 00:24:15,600 Speaker 1: help our WiFi and the list of resources that can 556 00:24:15,600 --> 00:24:17,320 Speaker 1: help you if you're struggling to pay your rent will 557 00:24:17,320 --> 00:24:18,800 Speaker 1: link to those in the show notes as well as 558 00:24:18,840 --> 00:24:21,840 Speaker 1: other things, and those are available on our website at 559 00:24:21,840 --> 00:24:24,240 Speaker 1: how to money dot com. And if you've been listening 560 00:24:24,280 --> 00:24:25,760 Speaker 1: to our show and you've enjoyed it, we would love 561 00:24:25,760 --> 00:24:27,639 Speaker 1: for you to leave us a review over at Apple 562 00:24:27,720 --> 00:24:31,080 Speaker 1: Podcast specifically. That really helps us out. And you know, 563 00:24:31,119 --> 00:24:33,240 Speaker 1: while we're giving Aldi some love, if you haven't left 564 00:24:33,280 --> 00:24:34,919 Speaker 1: us a review yet, go over there, and when you 565 00:24:35,000 --> 00:24:38,000 Speaker 1: leave your review, let us know what item you specifically 566 00:24:38,359 --> 00:24:41,160 Speaker 1: love over at Audie. I, for one, I'm a huge 567 00:24:41,160 --> 00:24:44,119 Speaker 1: fan of their basic vanilla ice cream. It's in this 568 00:24:44,320 --> 00:24:47,679 Speaker 1: black cartain and people I've talked to multiple people and 569 00:24:47,760 --> 00:24:50,440 Speaker 1: everybody loves this ice cream. It's literally got like I think, 570 00:24:50,440 --> 00:24:53,040 Speaker 1: like six ingredients or maybe even like four, but it's 571 00:24:53,040 --> 00:24:55,520 Speaker 1: super like pure. There's not a whole lot of preservatives 572 00:24:55,560 --> 00:24:58,400 Speaker 1: in it, and it really is some really dang good 573 00:24:58,400 --> 00:25:00,000 Speaker 1: ice cream and we're eating a lot of it. This stuff. 574 00:25:01,200 --> 00:25:04,000 Speaker 1: All right, I'm gonna say the spicy salami and sharp 575 00:25:04,080 --> 00:25:07,359 Speaker 1: cheddar cheese. There you gon good comment? Well, alright, man, 576 00:25:07,720 --> 00:25:09,960 Speaker 1: that's gonna be it until next time. Best Friends Out, 577 00:25:10,000 --> 00:25:11,040 Speaker 1: Best Friends Out.