1 00:00:00,080 --> 00:00:02,720 Speaker 1: Welcome to How the Money. I'm Joel and I and Matt, 2 00:00:02,800 --> 00:00:26,520 Speaker 1: and today we're discussing big money moves that you're probably overlooking. Yeah, Joel, 3 00:00:26,520 --> 00:00:29,200 Speaker 1: we're talking about big money moves and meant, like a 4 00:00:29,200 --> 00:00:31,600 Speaker 1: lot of areas in our life, if we get a 5 00:00:31,600 --> 00:00:34,920 Speaker 1: few things right, a lot of the other things will 6 00:00:35,040 --> 00:00:37,680 Speaker 1: kind of fall into place, you know, if we prioritize 7 00:00:37,720 --> 00:00:40,560 Speaker 1: the correct things, And in this case, if we prioritize 8 00:00:40,760 --> 00:00:43,880 Speaker 1: our money for just the most impacts, it will allow 9 00:00:43,960 --> 00:00:45,839 Speaker 1: us to not have to worry about maybe a lot 10 00:00:45,840 --> 00:00:47,800 Speaker 1: of these other smaller things, All these smaller things that 11 00:00:47,840 --> 00:00:50,560 Speaker 1: can sometimes take up a lot of room in our minds, 12 00:00:50,600 --> 00:00:52,879 Speaker 1: and all those little things added up, I think can 13 00:00:52,920 --> 00:00:56,440 Speaker 1: sometimes maybe overwhelm us versus if we're able to focus 14 00:00:56,480 --> 00:00:59,840 Speaker 1: on fewer things that do actually have a larger impact, 15 00:01:00,200 --> 00:01:01,319 Speaker 1: you know. I mean that is what we're gonna talk 16 00:01:01,320 --> 00:01:03,920 Speaker 1: about today, the things that have a larger impact. To 17 00:01:03,960 --> 00:01:06,839 Speaker 1: focus on those things. Yeah, all right, speaking of large 18 00:01:06,880 --> 00:01:10,520 Speaker 1: impacts that that money can have. Recently, the lottery was 19 00:01:10,560 --> 00:01:12,480 Speaker 1: at record highs. I don't know if you saw that. 20 00:01:12,600 --> 00:01:15,680 Speaker 1: So last week I think the mega millions and man, 21 00:01:15,720 --> 00:01:17,360 Speaker 1: I forget what they're called there's like two different ones 22 00:01:17,400 --> 00:01:21,520 Speaker 1: and they were both the National Lottery. Yeah, everybody can participate. Yeah, 23 00:01:21,520 --> 00:01:24,399 Speaker 1: and so I think both of the jackpots were valued 24 00:01:24,520 --> 00:01:27,839 Speaker 1: over four million dollars, which is pretty impressive. And um 25 00:01:27,880 --> 00:01:29,440 Speaker 1: and at that point in time, a lot of people 26 00:01:29,480 --> 00:01:32,000 Speaker 1: start writing articles about it, look at the jackpots on 27 00:01:32,040 --> 00:01:34,520 Speaker 1: these things and more people I think probably get excited 28 00:01:34,560 --> 00:01:37,399 Speaker 1: to play the lottery. Well, um, obviously, you and I 29 00:01:37,480 --> 00:01:39,759 Speaker 1: we would say playing the lottery not a good idea. 30 00:01:40,040 --> 00:01:44,080 Speaker 1: Your your chances of winning are almost none, um and 31 00:01:44,080 --> 00:01:46,560 Speaker 1: and you're just throwing away money when you played the lottery. 32 00:01:46,720 --> 00:01:49,800 Speaker 1: But financially it's not a good move, right exactly, Like, 33 00:01:49,840 --> 00:01:52,040 Speaker 1: I'm not gonna poopoo somebody if they're like I like 34 00:01:52,200 --> 00:01:53,840 Speaker 1: to do the scratch off, you know, or I like 35 00:01:53,960 --> 00:01:55,880 Speaker 1: I like to pick all the numbers. Yeah, but five 36 00:01:55,920 --> 00:01:57,560 Speaker 1: bucks in the office pool and you know I do 37 00:01:57,600 --> 00:01:59,559 Speaker 1: it with my coworkers or whatever. Yeah, have you ever. 38 00:01:59,600 --> 00:02:01,880 Speaker 1: So that being said, I feel like sometimes I've heard 39 00:02:01,880 --> 00:02:05,639 Speaker 1: of folks getting like lottery tickets and their stockings at Christmas. 40 00:02:05,440 --> 00:02:06,960 Speaker 1: H Like for some people it's more of a way 41 00:02:07,000 --> 00:02:09,799 Speaker 1: of life. But dude, lottery tickets never have been something 42 00:02:09,880 --> 00:02:12,359 Speaker 1: that our family has participant. I don't think I've ever 43 00:02:12,400 --> 00:02:14,160 Speaker 1: bought a lottery ticket in my life, and not that 44 00:02:14,200 --> 00:02:16,840 Speaker 1: I wouldn't necessarily, but um, it's just not something I 45 00:02:16,880 --> 00:02:19,640 Speaker 1: think about the same thing here, And like we said, 46 00:02:19,760 --> 00:02:21,480 Speaker 1: it's fun. It can be fun, I guess, but it's 47 00:02:21,480 --> 00:02:25,360 Speaker 1: not like a financial plan. No, No, it's definitely definitely 48 00:02:25,360 --> 00:02:27,800 Speaker 1: not a financial plan. But I think the biggest thing 49 00:02:27,840 --> 00:02:30,680 Speaker 1: about the lottery is kind of the excitement meter that 50 00:02:30,800 --> 00:02:33,640 Speaker 1: gets buzzing inside of us if if we do play right. Um, 51 00:02:33,680 --> 00:02:35,680 Speaker 1: I've played some black jack in my day, and I 52 00:02:35,760 --> 00:02:38,520 Speaker 1: understand the excitement of gambling. It is kind of it's 53 00:02:38,560 --> 00:02:41,000 Speaker 1: kind of a joy to to do that every once 54 00:02:41,040 --> 00:02:43,240 Speaker 1: in a while. So like every couple of years, there's 55 00:02:43,240 --> 00:02:44,960 Speaker 1: a there's a casino not too far from where my 56 00:02:44,960 --> 00:02:46,880 Speaker 1: mother in law lives, and I'll go, I'll go play. 57 00:02:46,919 --> 00:02:48,440 Speaker 1: I'll put a hunter bucks down on black jack and 58 00:02:48,520 --> 00:02:50,440 Speaker 1: it's fun for I don't know, a couple hours. But 59 00:02:50,720 --> 00:02:54,120 Speaker 1: every now and then, please, where's Joel again? He's back 60 00:02:54,160 --> 00:02:58,320 Speaker 1: at the tables, isn't he u? Um? But okay, So 61 00:02:58,760 --> 00:03:00,720 Speaker 1: to get in on that excitement it, but to use 62 00:03:00,760 --> 00:03:03,960 Speaker 1: it in a much more productive way. There's a bank 63 00:03:04,040 --> 00:03:07,600 Speaker 1: out there called YadA Savings, and so I just want 64 00:03:07,600 --> 00:03:09,160 Speaker 1: to like let everybody know about this. We'll put a 65 00:03:09,200 --> 00:03:11,280 Speaker 1: link to it in our shoul Knows. But it's basically 66 00:03:11,880 --> 00:03:14,200 Speaker 1: it allows you to put money in a savings account 67 00:03:14,320 --> 00:03:16,240 Speaker 1: and you get paid at a rate of point two percent, 68 00:03:16,320 --> 00:03:18,000 Speaker 1: which is not the best in the world, but it's 69 00:03:18,000 --> 00:03:20,560 Speaker 1: also not the worst. But in addition to what you're 70 00:03:20,560 --> 00:03:22,919 Speaker 1: getting paid on your funds, you have essentially a chance 71 00:03:22,919 --> 00:03:25,919 Speaker 1: to win big prizes based on saving more money. And 72 00:03:26,080 --> 00:03:28,800 Speaker 1: that's the kind of lot o I'm into. Matt, Like, 73 00:03:28,840 --> 00:03:32,560 Speaker 1: every Bucks you deposit, they will give you a ticket, um, 74 00:03:32,560 --> 00:03:34,600 Speaker 1: and then you can choose, you know, what odds you want. 75 00:03:34,680 --> 00:03:36,800 Speaker 1: Do you want to enter into the thousand dollars sweepstakes 76 00:03:36,880 --> 00:03:39,760 Speaker 1: or the ten million dollar swepstakes? Obviously the odds are 77 00:03:39,800 --> 00:03:42,200 Speaker 1: are much worse if you're entering into the ten million 78 00:03:42,240 --> 00:03:45,360 Speaker 1: dollar sweepstakes. Um. But yeah, YadA seems really cool. I 79 00:03:45,440 --> 00:03:47,640 Speaker 1: kind of like what they're up to making savings more 80 00:03:47,760 --> 00:03:50,000 Speaker 1: of a game. Yeah. I'll point out as well that 81 00:03:50,240 --> 00:03:53,120 Speaker 1: YadA it's kind of a dumb name. It's not the 82 00:03:53,160 --> 00:03:55,080 Speaker 1: kind of name that makes you feel confident about where 83 00:03:55,120 --> 00:03:57,160 Speaker 1: your money is going. It's like I keep my money 84 00:03:57,200 --> 00:04:01,240 Speaker 1: with YadA. Yes, uh does look like a lotto So 85 00:04:01,400 --> 00:04:03,040 Speaker 1: I wonder if that's a part of why they did it. 86 00:04:03,040 --> 00:04:04,480 Speaker 1: But I wanted to point out though, that this isn't 87 00:04:04,480 --> 00:04:06,600 Speaker 1: an actual bank, right, This is like one of these 88 00:04:06,640 --> 00:04:10,560 Speaker 1: platforms that's a cash management platform, but the money that 89 00:04:10,600 --> 00:04:14,160 Speaker 1: you do deposit with them is actually insured by their 90 00:04:14,200 --> 00:04:16,200 Speaker 1: partner banks, and so it is money that is f 91 00:04:16,320 --> 00:04:18,599 Speaker 1: d i C insured. So money that you have in 92 00:04:18,640 --> 00:04:20,520 Speaker 1: that account you will not lose or if you do, 93 00:04:20,600 --> 00:04:23,760 Speaker 1: it's insured right up to two dollars. But they have 94 00:04:23,880 --> 00:04:27,120 Speaker 1: a a legitimate partnership with with banks who are f 95 00:04:27,240 --> 00:04:29,320 Speaker 1: d i C insured. And so this is again one 96 00:04:29,360 --> 00:04:33,000 Speaker 1: of these newer cash management platforms that are tapping into 97 00:04:33,040 --> 00:04:35,560 Speaker 1: different ways that make us that get us excited to 98 00:04:35,600 --> 00:04:38,279 Speaker 1: actually save our money or to invest our money. That's 99 00:04:38,320 --> 00:04:41,040 Speaker 1: something that traditional banks aren't very good at, but obviously 100 00:04:41,040 --> 00:04:43,159 Speaker 1: a lot of these newer startups are good at. And 101 00:04:43,200 --> 00:04:44,920 Speaker 1: so yeah, if you're down for earning maybe a little 102 00:04:44,960 --> 00:04:46,760 Speaker 1: bit less than what a lot of the online banks 103 00:04:46,760 --> 00:04:50,039 Speaker 1: are offering, but you are enticed by the potential to 104 00:04:50,040 --> 00:04:52,880 Speaker 1: win cash prizes, then check out YadA. Yeah, I feel 105 00:04:52,880 --> 00:04:56,120 Speaker 1: like the lottery gets people excited to be parted from 106 00:04:56,120 --> 00:04:59,159 Speaker 1: their money, and and YadA is getting people excited to 107 00:04:59,400 --> 00:05:01,520 Speaker 1: save more their money, which is great. So when when 108 00:05:01,640 --> 00:05:03,080 Speaker 1: it is all right, Matt, let's get onto the beer 109 00:05:03,120 --> 00:05:05,239 Speaker 1: that we're gonna have this episode. This one was called 110 00:05:05,520 --> 00:05:08,200 Speaker 1: homeburg Bound and it's by Four Peaks Brewing Company. This 111 00:05:08,240 --> 00:05:10,360 Speaker 1: one was sent to us by listener Jacob, So Jacob, 112 00:05:10,400 --> 00:05:11,880 Speaker 1: thanks for sending this one in our way. We look 113 00:05:11,920 --> 00:05:14,120 Speaker 1: forward to letting everybody know what we think about this 114 00:05:14,160 --> 00:05:16,880 Speaker 1: beer at the end of the episode. But Matt, let's 115 00:05:16,880 --> 00:05:18,599 Speaker 1: get on to the topic in hand. We're talking about 116 00:05:18,839 --> 00:05:23,760 Speaker 1: big money moves that people are probably overlooking big money energy, 117 00:05:24,320 --> 00:05:25,920 Speaker 1: big money, big money, and that when people say when 118 00:05:25,920 --> 00:05:29,960 Speaker 1: they spend the wheel of fortune wheel yes, uh so yeah, 119 00:05:29,960 --> 00:05:32,320 Speaker 1: when it comes to our personal finances, I feel like 120 00:05:32,360 --> 00:05:34,680 Speaker 1: everybody's got like a sacred cow or two things that 121 00:05:34,680 --> 00:05:37,080 Speaker 1: they're not typically willing to touch, right, something in our 122 00:05:37,120 --> 00:05:39,760 Speaker 1: budget that that we feel like is is set in stone, 123 00:05:39,800 --> 00:05:42,520 Speaker 1: at least in our minds. Um And then in this episode, though, 124 00:05:42,520 --> 00:05:44,160 Speaker 1: we're gonna ask you to open your mind a bit 125 00:05:44,200 --> 00:05:47,520 Speaker 1: and let everything that you're currently attached to beyond the table, 126 00:05:47,560 --> 00:05:50,839 Speaker 1: beyond the chopping block, because, in particular, the big stuff 127 00:05:51,120 --> 00:05:54,360 Speaker 1: that we often see as immovable because it's gonna take 128 00:05:54,400 --> 00:05:56,960 Speaker 1: like too much effort to make a change in our lives, well, 129 00:05:57,000 --> 00:05:59,080 Speaker 1: we often just allow that line item to stay the 130 00:05:59,120 --> 00:06:01,560 Speaker 1: way it is, despy the realization that it would make 131 00:06:01,560 --> 00:06:04,160 Speaker 1: a real difference in our happiness and in our budget 132 00:06:04,160 --> 00:06:06,479 Speaker 1: if we did something about it instead of just like 133 00:06:06,640 --> 00:06:08,840 Speaker 1: sticking with this status quo. Yeah, it's also easy to 134 00:06:08,839 --> 00:06:10,520 Speaker 1: get bogged down with a little stuff, you know, the 135 00:06:10,520 --> 00:06:13,080 Speaker 1: small money moves that often get much of the attention, 136 00:06:13,200 --> 00:06:16,920 Speaker 1: like like cutting out a latte or the proverbial avocado 137 00:06:17,000 --> 00:06:19,760 Speaker 1: toast every headline I read, man millennials supposedly love it, 138 00:06:19,800 --> 00:06:21,760 Speaker 1: but I'm a millennial. Not for me. But you like 139 00:06:21,760 --> 00:06:25,400 Speaker 1: guacamole seriously? Yeah, oh dude, you're missing out. I feel 140 00:06:25,400 --> 00:06:27,320 Speaker 1: like I should because isn't ourn avocado was like a 141 00:06:27,360 --> 00:06:29,559 Speaker 1: super food. Yeah, they've got like all those great fatty 142 00:06:29,560 --> 00:06:32,960 Speaker 1: acids that are good for your brain. But here's the thing, 143 00:06:33,120 --> 00:06:35,440 Speaker 1: so we're talking about all these small cuts that we 144 00:06:35,480 --> 00:06:38,080 Speaker 1: can make to our spending. Uh, these small money moves, 145 00:06:38,360 --> 00:06:40,400 Speaker 1: and the small moves can be pretty gratifying, right, They 146 00:06:40,400 --> 00:06:43,120 Speaker 1: can feel good because it's a quick uh, And mostly 147 00:06:43,200 --> 00:06:45,360 Speaker 1: it's it's a tangible action that we can take right now. 148 00:06:45,400 --> 00:06:48,000 Speaker 1: You know, we think woo, you know, with very little effort. 149 00:06:48,000 --> 00:06:51,080 Speaker 1: I just said five dollars and forty cents. But you know, 150 00:06:51,120 --> 00:06:55,000 Speaker 1: while it's certainly easier to forgo to go cup of 151 00:06:55,000 --> 00:06:57,680 Speaker 1: coffee than to look at the bigger money levers in 152 00:06:57,680 --> 00:07:00,360 Speaker 1: your life, those changes are also gonna have a far 153 00:07:00,839 --> 00:07:03,360 Speaker 1: smaller impact. And you know, if you're in a situation 154 00:07:03,400 --> 00:07:05,800 Speaker 1: that is calling for some bigger changes in your life, 155 00:07:06,160 --> 00:07:08,960 Speaker 1: say you want to significantly ramp up your savings radar, 156 00:07:09,080 --> 00:07:11,240 Speaker 1: or maybe you have to cut back because you were 157 00:07:11,280 --> 00:07:13,240 Speaker 1: laid off, well, you know, it's tough to make a 158 00:07:13,320 --> 00:07:16,240 Speaker 1: dent in your finances by just shaving a little bit 159 00:07:16,240 --> 00:07:19,280 Speaker 1: here and there. Yeah, And I think Matt, sometimes, um, 160 00:07:19,440 --> 00:07:22,520 Speaker 1: we forego the big money moves, like we don't tackle 161 00:07:22,720 --> 00:07:24,520 Speaker 1: the big money things in our lives that we that 162 00:07:24,560 --> 00:07:27,040 Speaker 1: we could. And and I think there's a few reasons 163 00:07:27,080 --> 00:07:30,000 Speaker 1: for that. Like one, I think it's human nature to 164 00:07:30,080 --> 00:07:32,280 Speaker 1: let the big things lie dormant and keep things as 165 00:07:32,280 --> 00:07:35,040 Speaker 1: they've been. We prefer to try the easy things that 166 00:07:35,080 --> 00:07:38,160 Speaker 1: impact our lives in smaller, less meaningful ways. And while 167 00:07:38,160 --> 00:07:40,440 Speaker 1: it's obviously really important to get the ball rolling so 168 00:07:40,480 --> 00:07:43,200 Speaker 1: that you have any progress at all, only focusing on 169 00:07:43,280 --> 00:07:45,600 Speaker 1: the little things can actually make it possible for us 170 00:07:45,640 --> 00:07:48,960 Speaker 1: to never end up addressing the larger and more substantial 171 00:07:48,960 --> 00:07:52,000 Speaker 1: areas of our lives where we can create dramatic results 172 00:07:52,040 --> 00:07:56,240 Speaker 1: for ourselves if we would only be intentional in that direction. Yeah, 173 00:07:56,320 --> 00:07:57,880 Speaker 1: I think we like to to stick with these smaller 174 00:07:57,960 --> 00:08:00,120 Speaker 1: changes in our life too, because we assume so it's 175 00:08:00,120 --> 00:08:01,920 Speaker 1: sort of like you touched on earlier, that there are 176 00:08:02,040 --> 00:08:04,240 Speaker 1: these things in our lives that we just can't change. 177 00:08:04,240 --> 00:08:06,440 Speaker 1: You know. We say to ourselves that like I can't move, 178 00:08:06,480 --> 00:08:08,160 Speaker 1: you know, like we can't sell this house, we can't 179 00:08:08,360 --> 00:08:11,360 Speaker 1: change schools. But you know, many of those things aren't 180 00:08:11,360 --> 00:08:13,840 Speaker 1: necessarily true. It's it's more likely that you can do 181 00:08:13,920 --> 00:08:17,000 Speaker 1: those things, but you just don't want to, and you know, 182 00:08:17,080 --> 00:08:20,000 Speaker 1: perhaps the results would be far better than this. That 183 00:08:20,120 --> 00:08:23,840 Speaker 1: is quo. It's important not to shut these possibilities down 184 00:08:23,880 --> 00:08:27,280 Speaker 1: before giving them some thought and some sm actual consideration. Yeah, 185 00:08:27,360 --> 00:08:29,600 Speaker 1: I mean, Matt, you know, we uh, Emily and I 186 00:08:29,640 --> 00:08:31,400 Speaker 1: we sold one of our cars just a couple of 187 00:08:31,440 --> 00:08:33,000 Speaker 1: months ago. We talked about on the show and that 188 00:08:33,120 --> 00:08:35,200 Speaker 1: was one of those things where in my mind that 189 00:08:35,240 --> 00:08:37,400 Speaker 1: was kind of a sacred cow, like families have two cars, 190 00:08:37,520 --> 00:08:40,120 Speaker 1: and it was kind of something I told myself And 191 00:08:40,280 --> 00:08:43,000 Speaker 1: had it not been for us talking about it, dedicating 192 00:08:43,000 --> 00:08:45,680 Speaker 1: in an entire episode to convince our listeners to sell 193 00:08:45,679 --> 00:08:48,080 Speaker 1: a car, right, it probabed me in the right direction, 194 00:08:48,080 --> 00:08:50,000 Speaker 1: and I was like, it is possible. And those are 195 00:08:50,000 --> 00:08:52,960 Speaker 1: the kind of things that oftentimes we just don't allow 196 00:08:53,000 --> 00:08:55,040 Speaker 1: ourselves to even think of that as being a possibility 197 00:08:55,280 --> 00:08:58,800 Speaker 1: because we've told ourselves something else that isn't necessarily true, right, 198 00:08:59,240 --> 00:09:02,120 Speaker 1: I think to the smaller things are often marketed or 199 00:09:02,200 --> 00:09:04,920 Speaker 1: packaged better when it comes to personal finances, right, Like 200 00:09:05,000 --> 00:09:07,280 Speaker 1: a lot of financial books and articles make it seem 201 00:09:07,320 --> 00:09:09,839 Speaker 1: as though our money goals can be easily reached through 202 00:09:09,880 --> 00:09:12,960 Speaker 1: a series of very small changes, and like, of course 203 00:09:13,000 --> 00:09:16,520 Speaker 1: a slew of small changes can certainly have a large impact, 204 00:09:16,760 --> 00:09:18,840 Speaker 1: but often to see the most meaningful results, you'll need 205 00:09:18,880 --> 00:09:21,360 Speaker 1: to commit to changing some of the bigger things in 206 00:09:21,400 --> 00:09:24,880 Speaker 1: your life, Like one big change can be more powerful 207 00:09:24,960 --> 00:09:27,560 Speaker 1: than a hundred small changes. Yes, yeah, yeah uh. And 208 00:09:27,600 --> 00:09:30,079 Speaker 1: not just books, right, but like apps as well, there 209 00:09:30,120 --> 00:09:32,000 Speaker 1: isn't an app out there that will tell you, hey, 210 00:09:32,200 --> 00:09:34,640 Speaker 1: you need to sell your your expensive house and move 211 00:09:34,679 --> 00:09:37,000 Speaker 1: to a cheaper part of the country. You know, but 212 00:09:37,040 --> 00:09:38,839 Speaker 1: there is an app that will help you to round 213 00:09:38,880 --> 00:09:40,960 Speaker 1: up your savings to where it's like, hey, you just 214 00:09:40,960 --> 00:09:44,400 Speaker 1: saved two dollars and eleven cents today. There are lots 215 00:09:44,400 --> 00:09:46,720 Speaker 1: of apps that do things like that for you, but 216 00:09:47,080 --> 00:09:48,679 Speaker 1: less so, you know, when it comes to some of 217 00:09:48,720 --> 00:09:50,560 Speaker 1: these really big moves that we need to make. Yeah, 218 00:09:50,559 --> 00:09:52,520 Speaker 1: and probably we don't want to hate on the small stuff, 219 00:09:52,520 --> 00:09:54,439 Speaker 1: but like today, we want to focus on the big stuff. 220 00:09:54,480 --> 00:09:56,520 Speaker 1: Like it's not that saving two bucks and eleven cents 221 00:09:56,520 --> 00:09:58,040 Speaker 1: in a day that can be a great way to 222 00:09:58,040 --> 00:10:01,520 Speaker 1: to reach some short term savings goals. But the bigger things, man, 223 00:10:01,600 --> 00:10:03,679 Speaker 1: the bigger things that people are overlooking are the things 224 00:10:03,720 --> 00:10:05,360 Speaker 1: that are gonna have the most impact. Yeah, I do. 225 00:10:05,520 --> 00:10:07,120 Speaker 1: One of the other reasons too, I think that sometimes 226 00:10:07,120 --> 00:10:09,640 Speaker 1: we avoid some of these bigger changes as well, is 227 00:10:09,640 --> 00:10:11,720 Speaker 1: that there can be sort of the sense of entitlement. 228 00:10:11,840 --> 00:10:14,280 Speaker 1: You know, many things are seen almost as a right 229 00:10:14,760 --> 00:10:16,840 Speaker 1: or at least a cultural norm, sort of like you're 230 00:10:16,840 --> 00:10:19,040 Speaker 1: talking about like all families should have two cars in 231 00:10:19,080 --> 00:10:21,600 Speaker 1: the driveway kind of thing. We're also talking about, you know, 232 00:10:21,640 --> 00:10:24,960 Speaker 1: the bias towards home ownership. Just overall, the treat yourself 233 00:10:25,080 --> 00:10:28,000 Speaker 1: mentality is so prevalent in our culture, and you know, 234 00:10:28,040 --> 00:10:31,880 Speaker 1: we're all about combating that. Um Seeking to curb that 235 00:10:31,920 --> 00:10:33,880 Speaker 1: way of thinking is going to build resilience, It's gonna 236 00:10:33,880 --> 00:10:36,520 Speaker 1: build character and strength, and best of all, two is 237 00:10:36,520 --> 00:10:38,840 Speaker 1: gonna allow us to be more effective with our money 238 00:10:39,080 --> 00:10:41,480 Speaker 1: and the actual goals that we've laid out for ourselves. Yeah, 239 00:10:41,559 --> 00:10:43,720 Speaker 1: and I think, you know, certain things in popular culture 240 00:10:43,840 --> 00:10:47,400 Speaker 1: sometimes they're like sticking points for a society. I point 241 00:10:47,440 --> 00:10:49,760 Speaker 1: back to a Zizon sorry in Parks and rec and 242 00:10:49,800 --> 00:10:52,800 Speaker 1: the treat yourself mentality. Ever since that episode aired has 243 00:10:52,840 --> 00:10:55,280 Speaker 1: become even more reality in our culture. So Aziz, I 244 00:10:55,320 --> 00:10:58,000 Speaker 1: blame you. It's made fun of But at the same time, 245 00:10:58,040 --> 00:11:00,480 Speaker 1: it's like, but I like that, you know, like we 246 00:11:00,480 --> 00:11:01,920 Speaker 1: we we will make fun of that, but then we 247 00:11:01,960 --> 00:11:03,680 Speaker 1: will adopt it. At the same time, I feel like 248 00:11:03,720 --> 00:11:05,880 Speaker 1: that's what our culture has done. Then I'll also put 249 00:11:05,880 --> 00:11:08,520 Speaker 1: my wireless audio player on top of my DJ on 250 00:11:08,600 --> 00:11:10,400 Speaker 1: top of my room, but you know, make DJ rooms. 251 00:11:12,840 --> 00:11:15,440 Speaker 1: But yeah, so there's some sparks. It's such a good show, 252 00:11:16,120 --> 00:11:17,559 Speaker 1: but all right, so there's so much more to talk 253 00:11:17,600 --> 00:11:20,120 Speaker 1: about on the big money moves that you're probably overlooking. 254 00:11:20,280 --> 00:11:22,439 Speaker 1: We're gonna give some specific examples of things that you 255 00:11:22,480 --> 00:11:25,600 Speaker 1: should be looking at of areas where you could potentially 256 00:11:25,600 --> 00:11:28,240 Speaker 1: be saving a whole lot more through making a bigger 257 00:11:28,280 --> 00:11:30,000 Speaker 1: money move. We'll get to some of that stuff right 258 00:11:30,000 --> 00:11:41,400 Speaker 1: after this. All right, we're back on the break and 259 00:11:41,400 --> 00:11:43,360 Speaker 1: we're gonna talk about some of the big impacts that 260 00:11:43,440 --> 00:11:45,560 Speaker 1: we can have on our money, specifically when it comes 261 00:11:45,559 --> 00:11:48,640 Speaker 1: to a few different categories as it pertains to how 262 00:11:48,679 --> 00:11:51,199 Speaker 1: we earn money, how we spend our money, and how 263 00:11:51,240 --> 00:11:53,800 Speaker 1: we save and invest our money. But first, let's let's 264 00:11:53,800 --> 00:11:56,840 Speaker 1: touch on earning. Dude, A big budget record can be 265 00:11:57,400 --> 00:12:00,559 Speaker 1: not having enough income, right, But the way most people 266 00:12:00,600 --> 00:12:02,840 Speaker 1: tackle that problem is to find a side hustle that 267 00:12:02,880 --> 00:12:05,760 Speaker 1: pays pennies on the dollar compared to what they're making 268 00:12:06,080 --> 00:12:08,560 Speaker 1: uh in their regular jobs. You know, so many of us, 269 00:12:08,640 --> 00:12:11,800 Speaker 1: might myself included, are attempted to focus more on side 270 00:12:11,840 --> 00:12:15,640 Speaker 1: hustles and side gigs versus ramping up your ability to 271 00:12:15,800 --> 00:12:18,959 Speaker 1: earn more where you already are. The new and the 272 00:12:19,280 --> 00:12:21,679 Speaker 1: novel can steal our attention from the things that actually 273 00:12:22,160 --> 00:12:24,360 Speaker 1: would earn us more money. But that being said, you know, 274 00:12:24,400 --> 00:12:26,760 Speaker 1: if a side hustle is leading to something that you're 275 00:12:26,880 --> 00:12:29,120 Speaker 1: maybe more excited about, then we would say to go 276 00:12:29,240 --> 00:12:31,400 Speaker 1: for it. You know, a passion project can lead to 277 00:12:31,520 --> 00:12:34,600 Speaker 1: something bigger, for example, like this podcast. This is how 278 00:12:34,600 --> 00:12:36,520 Speaker 1: this podcast started out, was something that we started out 279 00:12:36,559 --> 00:12:37,960 Speaker 1: on the side and now it's something that you and 280 00:12:37,960 --> 00:12:41,160 Speaker 1: I devote the majority of our working hours towards. But 281 00:12:41,280 --> 00:12:43,880 Speaker 1: you know, exchanging your time now for just a little 282 00:12:43,880 --> 00:12:46,000 Speaker 1: bit of money with a side gig that that doesn't 283 00:12:46,040 --> 00:12:49,320 Speaker 1: have a lot of future potential only you know, helps 284 00:12:49,360 --> 00:12:51,920 Speaker 1: in the short term. You might win the short term 285 00:12:52,000 --> 00:12:53,720 Speaker 1: battle when it comes to earning a little bit more 286 00:12:53,720 --> 00:12:56,000 Speaker 1: money now, but you might lose the the overall long 287 00:12:56,120 --> 00:12:58,800 Speaker 1: term personal financial war. All right, So I really want 288 00:12:58,800 --> 00:13:01,800 Speaker 1: to give some sort of example from like a history 289 00:13:02,080 --> 00:13:04,160 Speaker 1: of like wars and stuff like that. Man, I don't 290 00:13:04,200 --> 00:13:05,520 Speaker 1: really have one to give, though. I'm trying to think 291 00:13:05,559 --> 00:13:07,960 Speaker 1: of who won an awesome battle but then lost the war. 292 00:13:08,000 --> 00:13:10,560 Speaker 1: You've got any you've got any references. I'm not a 293 00:13:10,600 --> 00:13:13,800 Speaker 1: huge history buff, although your wife is. I feel like 294 00:13:13,800 --> 00:13:15,720 Speaker 1: Emily has been reading a lot of World War two recently, 295 00:13:15,760 --> 00:13:17,080 Speaker 1: I can't have to bring her in and she'd know 296 00:13:17,120 --> 00:13:20,480 Speaker 1: something talking about that. But I'm more curious about individuals 297 00:13:20,480 --> 00:13:22,439 Speaker 1: in history and kind of their stories. Yeah, their stories, 298 00:13:22,440 --> 00:13:24,920 Speaker 1: what they were able to accomplish. But um, yeah, good, 299 00:13:25,120 --> 00:13:27,640 Speaker 1: I just figured out that you ever try. But yeah, 300 00:13:27,679 --> 00:13:30,800 Speaker 1: instead of delivering groceries in the evening with instat cart, 301 00:13:30,920 --> 00:13:34,040 Speaker 1: focus instead on ways to increase what you're making at 302 00:13:34,080 --> 00:13:36,320 Speaker 1: your day job where you're currently working and listened back 303 00:13:36,360 --> 00:13:38,920 Speaker 1: to our episode with Rich Jones was episode two eighty nine. 304 00:13:38,960 --> 00:13:41,800 Speaker 1: Because spending some time learning and working on your negotiating 305 00:13:41,840 --> 00:13:44,680 Speaker 1: skills could get you much further in the same amount 306 00:13:44,720 --> 00:13:47,760 Speaker 1: of time than pursuing other avenues in which to try 307 00:13:47,800 --> 00:13:49,680 Speaker 1: to make some side money. It makes sense to have 308 00:13:49,720 --> 00:13:52,640 Speaker 1: a conversation to sit down with your manager, your boss, uh, 309 00:13:52,679 --> 00:13:54,520 Speaker 1: to ask how you can advance at your company, like 310 00:13:54,760 --> 00:13:57,800 Speaker 1: how can I take on additional roles or responsibilities? Where 311 00:13:57,800 --> 00:13:59,400 Speaker 1: do you see me in the next five years, and 312 00:13:59,440 --> 00:14:02,200 Speaker 1: how can I accelerate my progress? Um? Those are good 313 00:14:02,200 --> 00:14:04,960 Speaker 1: conversations to have, and those can ultimately be more meaningful 314 00:14:04,960 --> 00:14:08,720 Speaker 1: working on those things inside of your main gig than 315 00:14:08,880 --> 00:14:11,120 Speaker 1: trying to take on a bunch of side hustles. That 316 00:14:11,240 --> 00:14:14,079 Speaker 1: don't pay nearly as well. Yeah, it's easy to overlook 317 00:14:14,160 --> 00:14:16,920 Speaker 1: the earning potential of your main gig, of you know, 318 00:14:17,000 --> 00:14:19,360 Speaker 1: a career or in an industry that you might be 319 00:14:19,520 --> 00:14:22,360 Speaker 1: in where there is a lot more potential for future 320 00:14:22,360 --> 00:14:24,560 Speaker 1: earnings than just this little side thing that you're kind 321 00:14:24,560 --> 00:14:26,960 Speaker 1: of distracted with, the new shiny thing off on the side, 322 00:14:27,480 --> 00:14:29,680 Speaker 1: versus the thing that you should really be focusing on. 323 00:14:29,880 --> 00:14:32,240 Speaker 1: All right, So that's earning. The second category we wanna 324 00:14:32,320 --> 00:14:34,360 Speaker 1: touch on is how it is that we spend our money, 325 00:14:34,560 --> 00:14:36,520 Speaker 1: and housing is going to be up first. Man, the 326 00:14:36,560 --> 00:14:38,320 Speaker 1: amount of money that we put towards our housing every 327 00:14:38,320 --> 00:14:42,720 Speaker 1: single year is massive. The Bureau of Labor Statistics reports 328 00:14:42,760 --> 00:14:46,920 Speaker 1: that over of Americans spending is on our housing. And 329 00:14:46,960 --> 00:14:48,800 Speaker 1: so we would encourage folks to look at what you 330 00:14:48,800 --> 00:14:51,440 Speaker 1: spent on housing every month and and start questioning why 331 00:14:51,440 --> 00:14:53,960 Speaker 1: it is that it's such a large expense in your life. 332 00:14:54,440 --> 00:14:56,200 Speaker 1: It's kind of natural that it is, right. But at 333 00:14:56,240 --> 00:14:59,120 Speaker 1: the same time, for some people there may be overspending 334 00:14:59,440 --> 00:15:01,800 Speaker 1: on their home and they're not necessarily finding that it 335 00:15:01,920 --> 00:15:04,200 Speaker 1: aligns with their values, you know. But for you know, 336 00:15:04,280 --> 00:15:06,120 Speaker 1: for instance, us Kate and I I've talked about this 337 00:15:06,160 --> 00:15:08,720 Speaker 1: before in the show. But we're we're huge homebodies. It's 338 00:15:08,760 --> 00:15:11,080 Speaker 1: something that in a way, our our house is sort 339 00:15:11,080 --> 00:15:13,600 Speaker 1: of uh my craft beer equivalent. I like craft beer, 340 00:15:13,760 --> 00:15:16,600 Speaker 1: but I also like I like our houses as well. 341 00:15:16,640 --> 00:15:18,240 Speaker 1: Like I I get a test. You don't get out much 342 00:15:18,360 --> 00:15:22,720 Speaker 1: only every other Monday. It's scheduled, but you know, like 343 00:15:22,840 --> 00:15:25,040 Speaker 1: so like for that reason, we have intentionally spent a 344 00:15:25,040 --> 00:15:27,040 Speaker 1: little bit more on our home than I think, uh, 345 00:15:27,040 --> 00:15:28,640 Speaker 1: the most folks, more than I know that that you 346 00:15:28,760 --> 00:15:30,800 Speaker 1: and Emily have. But for us, it's something that we've 347 00:15:30,800 --> 00:15:33,720 Speaker 1: done intentionally. Uh, and when we all have different priorities 348 00:15:33,720 --> 00:15:36,440 Speaker 1: and that's okay. But I think questioning your housing costs 349 00:15:36,680 --> 00:15:38,600 Speaker 1: and not just kind of going the route that most 350 00:15:38,600 --> 00:15:41,880 Speaker 1: other people go is important to do, especially when this 351 00:15:41,960 --> 00:15:44,600 Speaker 1: is such a large percentage of our spending every single month, 352 00:15:44,680 --> 00:15:47,640 Speaker 1: every single year. Yeah, don't leave the housing stone unturned 353 00:15:47,680 --> 00:15:51,000 Speaker 1: because it's ripe with opportunities to save. And when when 354 00:15:51,000 --> 00:15:52,960 Speaker 1: it comes to getting those housing costs down in a 355 00:15:53,000 --> 00:15:55,400 Speaker 1: major way, and I think often met the first place 356 00:15:55,400 --> 00:15:57,840 Speaker 1: that people go to is keeping their utility costs down. 357 00:15:58,080 --> 00:16:00,320 Speaker 1: It seems like something is manageable and you can you 358 00:16:00,360 --> 00:16:03,120 Speaker 1: know quickly reduced the temperature in your thermostat in the winter, 359 00:16:03,400 --> 00:16:04,880 Speaker 1: and you're gonna save a little bit of money on 360 00:16:04,960 --> 00:16:08,280 Speaker 1: your electricity or natural gas bill that month, low flow 361 00:16:08,320 --> 00:16:11,440 Speaker 1: toilets or led bulbs. Again, those are pretty easy, simple 362 00:16:11,440 --> 00:16:13,560 Speaker 1: things to do in order to save a little bit 363 00:16:13,560 --> 00:16:15,560 Speaker 1: of extra money. But we would say that there are 364 00:16:15,600 --> 00:16:18,520 Speaker 1: bigger fish to fry in the housing department, and that 365 00:16:18,560 --> 00:16:21,600 Speaker 1: could mean continuing to rent instead of buying in order 366 00:16:21,640 --> 00:16:24,280 Speaker 1: to keep your costs down, living in a smaller space, 367 00:16:24,760 --> 00:16:27,400 Speaker 1: or choosing a less costly part of town or even 368 00:16:27,480 --> 00:16:29,240 Speaker 1: part of the country to live in. Especially right now, 369 00:16:29,240 --> 00:16:33,200 Speaker 1: like people are completely rethinking where they want to live, 370 00:16:33,280 --> 00:16:35,760 Speaker 1: and it could be the perfect time to move from 371 00:16:35,840 --> 00:16:39,440 Speaker 1: a high cost city into somewhere that is a little 372 00:16:39,440 --> 00:16:42,240 Speaker 1: bit more rural, or to a smaller city where it's 373 00:16:42,280 --> 00:16:44,840 Speaker 1: just not as expensive to live every month. And I 374 00:16:44,840 --> 00:16:47,880 Speaker 1: think in most of the categories in our budget, we 375 00:16:47,880 --> 00:16:50,280 Speaker 1: were able to shave things by dollars and cents. When 376 00:16:50,280 --> 00:16:53,040 Speaker 1: we change cell phone providers, it's not that it's not meaningful, 377 00:16:53,080 --> 00:16:56,040 Speaker 1: but you're saving fifty bucks a month, right But in 378 00:16:56,080 --> 00:16:58,880 Speaker 1: the housing category, you can save hundreds of dollars every 379 00:16:58,880 --> 00:17:02,160 Speaker 1: single month, or you could earn money through the house 380 00:17:02,200 --> 00:17:04,560 Speaker 1: that you have by house hacking to the tune of 381 00:17:04,640 --> 00:17:06,520 Speaker 1: hundreds of extra dollars a month. We talked about that 382 00:17:06,640 --> 00:17:10,000 Speaker 1: back an episode. It just it's important to note that 383 00:17:10,080 --> 00:17:12,159 Speaker 1: when it comes to housing, I think it feels like 384 00:17:12,160 --> 00:17:14,359 Speaker 1: an immovable line on them to so many people. But 385 00:17:14,440 --> 00:17:16,439 Speaker 1: you have options. There are things you can do to 386 00:17:16,440 --> 00:17:18,600 Speaker 1: either reduce the cost or make more money from the 387 00:17:18,600 --> 00:17:21,119 Speaker 1: asset that you have. It's not something that's set in 388 00:17:21,160 --> 00:17:23,120 Speaker 1: stone that you can't do anything about. And again it's 389 00:17:23,119 --> 00:17:26,360 Speaker 1: it's not like getting led bulbs right and getting low 390 00:17:26,359 --> 00:17:29,080 Speaker 1: flow toilets and low flow shower heads. It's not that 391 00:17:29,119 --> 00:17:31,320 Speaker 1: these are bad things like these are things that will 392 00:17:31,320 --> 00:17:33,600 Speaker 1: probably save you money over time. Yeah, and we talk 393 00:17:33,640 --> 00:17:36,560 Speaker 1: about those things where none of them. It's just that 394 00:17:36,680 --> 00:17:38,840 Speaker 1: if you're looking to make some serious changes, if you're 395 00:17:38,880 --> 00:17:41,840 Speaker 1: looking to seriously impact the amount of money that you're 396 00:17:41,920 --> 00:17:44,280 Speaker 1: looking to spend and save every single month, then you've 397 00:17:44,320 --> 00:17:46,720 Speaker 1: got to look beyond these small things. Right. You can't 398 00:17:46,760 --> 00:17:49,199 Speaker 1: just make some of these small tweaks. Instead, what you 399 00:17:49,200 --> 00:17:51,919 Speaker 1: need to do is having its higher shift in the 400 00:17:51,920 --> 00:17:55,560 Speaker 1: way you think about these expenses um and questioning whether 401 00:17:55,640 --> 00:17:57,600 Speaker 1: or not uh it makes sense for you to live 402 00:17:57,760 --> 00:18:00,440 Speaker 1: in that condo or in that house. These are the 403 00:18:00,480 --> 00:18:02,159 Speaker 1: kind of questions we want you to ask yourself when 404 00:18:02,200 --> 00:18:05,000 Speaker 1: it comes to making serious changes in your life. Um. 405 00:18:05,160 --> 00:18:07,160 Speaker 1: One of the other big expenses that we all have, 406 00:18:07,600 --> 00:18:10,359 Speaker 1: or a lot of us have, our our transportation costs. 407 00:18:10,440 --> 00:18:13,000 Speaker 1: When most people think about that, you know, the transportation budget. 408 00:18:13,000 --> 00:18:15,280 Speaker 1: There may be thinking about how much they spend on 409 00:18:15,320 --> 00:18:17,560 Speaker 1: gas every month, you know, like, how do I lower 410 00:18:17,680 --> 00:18:19,720 Speaker 1: you know, that cost by five bucks or ten bucks 411 00:18:19,720 --> 00:18:22,879 Speaker 1: a month? But like, honestly, that's pretty small potatas, or 412 00:18:22,920 --> 00:18:25,520 Speaker 1: maybe you're overly focused on your gas milege you're looking 413 00:18:25,560 --> 00:18:28,000 Speaker 1: at a vehicle that's like, hey, I now get thirty 414 00:18:28,040 --> 00:18:30,280 Speaker 1: five miles per gallon. Who but by the way, I 415 00:18:30,359 --> 00:18:33,080 Speaker 1: dropped thirty or five grand on a vehicle in order 416 00:18:33,119 --> 00:18:35,399 Speaker 1: to achieve that, you know, And so let's talk about 417 00:18:35,400 --> 00:18:38,200 Speaker 1: what really moves the needle in your transportation budget. When 418 00:18:38,200 --> 00:18:40,680 Speaker 1: you're buying a car, getting a new one will set 419 00:18:40,720 --> 00:18:42,879 Speaker 1: you back more, obviously, right, and so look for a 420 00:18:43,000 --> 00:18:45,679 Speaker 1: cheaper model. About eight years ago, when you look at 421 00:18:45,680 --> 00:18:49,000 Speaker 1: the numbers, roughly uh one fifth of all new cars 422 00:18:49,200 --> 00:18:52,439 Speaker 1: sold were under twenty dollars. Dude. Last year, it was 423 00:18:52,560 --> 00:18:55,480 Speaker 1: only one in ten uh And on top of that, 424 00:18:55,680 --> 00:18:58,520 Speaker 1: the median price of a new car is creeping ever 425 00:18:58,560 --> 00:19:02,479 Speaker 1: closer to forty dollars. That will seriously wreck your budget 426 00:19:02,480 --> 00:19:04,639 Speaker 1: and your ability to save money. And so if a 427 00:19:04,640 --> 00:19:07,359 Speaker 1: new car, you know, is your cup of tea, though, like, 428 00:19:07,400 --> 00:19:09,639 Speaker 1: that's okay, it's okay if it's if that's something that 429 00:19:09,680 --> 00:19:13,040 Speaker 1: you value. But you know, we would encourage folks to 430 00:19:13,040 --> 00:19:14,600 Speaker 1: to follow this rule of thumb and when we're gonna 431 00:19:14,640 --> 00:19:17,040 Speaker 1: call it the ten X rule, which is that whatever 432 00:19:17,240 --> 00:19:20,040 Speaker 1: you spend on a car, you should be making ten 433 00:19:20,160 --> 00:19:22,480 Speaker 1: times that amount. Yeah, so if you make a hundred 434 00:19:22,480 --> 00:19:24,399 Speaker 1: thousand dollars a year, you should probably be looking to 435 00:19:24,400 --> 00:19:26,800 Speaker 1: buy a car that costs about ten thousand dollars, right, 436 00:19:27,119 --> 00:19:29,360 Speaker 1: And that might seem like an aggressive rule, and I think, Matt, 437 00:19:29,400 --> 00:19:31,760 Speaker 1: it kind of is. When we're talking about personal finances, 438 00:19:31,920 --> 00:19:34,600 Speaker 1: there aren't many people that would recommend that people spend 439 00:19:34,640 --> 00:19:36,720 Speaker 1: that little on a car if they're making that much money. 440 00:19:36,920 --> 00:19:38,960 Speaker 1: But I think it's pretty obvious that the way that 441 00:19:39,000 --> 00:19:41,280 Speaker 1: people are spending money on cars these days is not 442 00:19:41,359 --> 00:19:43,639 Speaker 1: doing them much good. It's putting them into debt for 443 00:19:43,840 --> 00:19:46,280 Speaker 1: extended periods of time, lots of people are taking out 444 00:19:46,320 --> 00:19:48,800 Speaker 1: six or seven year car loans just to be able 445 00:19:48,840 --> 00:19:50,879 Speaker 1: to afford the payment on a new car. And the 446 00:19:50,920 --> 00:19:52,760 Speaker 1: average loan length of a new car these days is 447 00:19:52,760 --> 00:19:55,680 Speaker 1: is almost seventy one months. The average person then tends 448 00:19:55,720 --> 00:19:58,200 Speaker 1: to keep that car for about seventy nine months, so 449 00:19:58,520 --> 00:20:01,119 Speaker 1: that means there's they're literally eight months without a car payment, 450 00:20:01,160 --> 00:20:03,000 Speaker 1: eight months of bliss, and then you're back in the 451 00:20:03,080 --> 00:20:06,400 Speaker 1: saddle signing yourself up for another car payment. And that's 452 00:20:06,400 --> 00:20:08,720 Speaker 1: just not a good cycle to me into. Essentially, always 453 00:20:08,720 --> 00:20:10,800 Speaker 1: have a car payment that you never get rid of. 454 00:20:11,040 --> 00:20:13,320 Speaker 1: I hate that for folks. Uh. Yeah, And so instead 455 00:20:13,560 --> 00:20:15,680 Speaker 1: look at that tent X rule of thumb to help 456 00:20:15,720 --> 00:20:17,960 Speaker 1: inform you you know how much you can spend on 457 00:20:18,040 --> 00:20:20,040 Speaker 1: a car, uh, and that you know that means you 458 00:20:20,080 --> 00:20:23,000 Speaker 1: might need to buy used and in some cases really used, 459 00:20:23,000 --> 00:20:25,359 Speaker 1: depending on your situation. But the thing is you really 460 00:20:25,400 --> 00:20:28,480 Speaker 1: can find great vehicles in the five to ten dollar range. 461 00:20:28,680 --> 00:20:30,439 Speaker 1: And Matt, the only car that Emily and I are 462 00:20:30,560 --> 00:20:33,640 Speaker 1: driving is a five thousand dollar Many Van. I can 463 00:20:33,720 --> 00:20:36,120 Speaker 1: testify to that. Yeah, that's a great option. And and 464 00:20:36,200 --> 00:20:37,680 Speaker 1: like you kind of touched on earlier as well, we 465 00:20:37,720 --> 00:20:40,719 Speaker 1: can look to owning fewer cars overall. Your family and 466 00:20:40,760 --> 00:20:43,200 Speaker 1: our family were both one car families. Uh. Selling that 467 00:20:43,240 --> 00:20:46,320 Speaker 1: second car can seriously come and clutch. Uh. And again, 468 00:20:46,320 --> 00:20:48,440 Speaker 1: many more people can do this now because of working 469 00:20:48,440 --> 00:20:50,280 Speaker 1: from home. It's not for everybody, but we made a 470 00:20:50,280 --> 00:20:52,560 Speaker 1: good case for a back in episode to forty two. 471 00:20:52,800 --> 00:20:55,000 Speaker 1: So again, don't focus on the little things when it 472 00:20:55,040 --> 00:20:57,359 Speaker 1: comes to your transportation, you know, don't focus on the 473 00:20:57,359 --> 00:20:59,480 Speaker 1: fact that you can get gas for you know, three 474 00:20:59,480 --> 00:21:01,760 Speaker 1: cents cheap from at this gas station versus the other 475 00:21:01,760 --> 00:21:05,240 Speaker 1: one across town. Instead, we want you paying less overall 476 00:21:05,320 --> 00:21:07,760 Speaker 1: for your your car costs, for your transportation costs, and 477 00:21:07,840 --> 00:21:10,600 Speaker 1: oftentimes that does mean either buying used or maybe even 478 00:21:10,600 --> 00:21:13,200 Speaker 1: selling a vehicle that you don't really need. All right, Matt, 479 00:21:13,240 --> 00:21:15,520 Speaker 1: there's there's more big money moves that people can make though, 480 00:21:15,640 --> 00:21:18,919 Speaker 1: and including uh, ways that they can trim their food budget. 481 00:21:19,160 --> 00:21:20,840 Speaker 1: And I don't just mean trim, you can hack it. 482 00:21:21,480 --> 00:21:23,480 Speaker 1: And we'll get to that and more right after this break. 483 00:21:32,920 --> 00:21:34,520 Speaker 1: All right, we're back from the break, and we're talking 484 00:21:34,560 --> 00:21:38,359 Speaker 1: about our expenses still, but we're focusing on ways that 485 00:21:38,440 --> 00:21:41,480 Speaker 1: we can dramatically reduce our expenses. And food is another 486 00:21:41,600 --> 00:21:44,520 Speaker 1: major line item in our budgets. It is easy to 487 00:21:44,560 --> 00:21:47,200 Speaker 1: focus on the small stuff, right, like cutting out coupons 488 00:21:47,560 --> 00:21:50,040 Speaker 1: or even you know, going with fancy new digital coupons 489 00:21:50,320 --> 00:21:52,800 Speaker 1: in order to save more when grocery shopping, no paper 490 00:21:52,840 --> 00:21:56,000 Speaker 1: embarcode required exactly. But again, it's it's not that the 491 00:21:56,040 --> 00:21:58,440 Speaker 1: small stuff doesn't matter. It's just that there are far 492 00:21:58,680 --> 00:22:01,960 Speaker 1: more effective ways for us to trim our food budget 493 00:22:02,160 --> 00:22:05,560 Speaker 1: than to just going chasing after coupons, and actually less 494 00:22:05,560 --> 00:22:08,159 Speaker 1: annoying ways, Matt, because I don't know anything more annoying 495 00:22:08,200 --> 00:22:10,680 Speaker 1: than trying to cut out physical coupons and then keep 496 00:22:10,720 --> 00:22:12,240 Speaker 1: them with you and then remember to give them to 497 00:22:12,240 --> 00:22:15,360 Speaker 1: the cashier upon checkout. Uh, coupons. Is there any worse 498 00:22:15,400 --> 00:22:16,960 Speaker 1: way to save money? I don't think there is. I 499 00:22:16,960 --> 00:22:19,200 Speaker 1: think that's like top tier worse ways to save money. 500 00:22:19,840 --> 00:22:21,040 Speaker 1: I feel like you're gonna get a lot of hate 501 00:22:21,040 --> 00:22:23,199 Speaker 1: me over that. Maybe if you like cupons, let me 502 00:22:23,240 --> 00:22:25,640 Speaker 1: know why you love them, and the digital ones less 503 00:22:25,640 --> 00:22:27,320 Speaker 1: of a hassle. I understand they're not too bad. You 504 00:22:27,320 --> 00:22:29,000 Speaker 1: can go on, like if you if you shop a 505 00:22:29,040 --> 00:22:30,879 Speaker 1: Krog or something like that. I've used those digital keupons. 506 00:22:30,920 --> 00:22:33,520 Speaker 1: They're not that bad physical cupons. That's what I'm pushing 507 00:22:33,520 --> 00:22:36,000 Speaker 1: back against their pain. Don't like them? Yeah, all right, so, 508 00:22:36,280 --> 00:22:39,080 Speaker 1: but but the big stuff, really, the ways that your 509 00:22:39,119 --> 00:22:42,760 Speaker 1: food budget is probably getting crushed is food waste and 510 00:22:42,800 --> 00:22:44,800 Speaker 1: eating out more than you should. And also to these 511 00:22:44,880 --> 00:22:47,320 Speaker 1: days getting food delivered to your door too often, right 512 00:22:47,320 --> 00:22:49,840 Speaker 1: and instead of eating out. Maybe that's what is is 513 00:22:49,920 --> 00:22:52,040 Speaker 1: hamstringing you when it comes to your food budget. One 514 00:22:52,040 --> 00:22:53,840 Speaker 1: of my friends, Matt recently she told me that her 515 00:22:53,920 --> 00:22:56,119 Speaker 1: kid ordered an ice cream cone from Dairy Queen and 516 00:22:56,160 --> 00:22:59,600 Speaker 1: had it delivered and uh, I was just thinking one 517 00:23:00,080 --> 00:23:01,840 Speaker 1: to be melted by the time we got there and 518 00:23:02,000 --> 00:23:04,040 Speaker 1: not in January. Yeah, I guess maybe not maybe not 519 00:23:04,920 --> 00:23:07,440 Speaker 1: the whole time. I guess so. And then too, would 520 00:23:07,480 --> 00:23:09,760 Speaker 1: it costs like five times as much as going down 521 00:23:09,760 --> 00:23:12,520 Speaker 1: to the it's gotta right to get your ice cream 522 00:23:12,560 --> 00:23:15,960 Speaker 1: cone directly from the store. But um I I digress. 523 00:23:16,320 --> 00:23:19,120 Speaker 1: If you've absent mindedly let that food budget get out 524 00:23:19,119 --> 00:23:21,960 Speaker 1: of control, that could be the main culprit. It could 525 00:23:22,000 --> 00:23:24,960 Speaker 1: be getting that food delivery too much. A food waste 526 00:23:25,080 --> 00:23:29,560 Speaker 1: is another really important consideration. It's estimated that thirty of 527 00:23:29,560 --> 00:23:31,960 Speaker 1: food in our country goes to waste. And that's hard 528 00:23:31,960 --> 00:23:34,400 Speaker 1: to stomach for multiple reasons. What it means that Americans 529 00:23:34,400 --> 00:23:38,080 Speaker 1: are tossing out hundreds of billions of dollars of perfectly 530 00:23:38,119 --> 00:23:41,120 Speaker 1: good food in their trash cans. And so, yeah, better 531 00:23:41,240 --> 00:23:43,960 Speaker 1: meal planning and resolving to eat the food that we 532 00:23:44,040 --> 00:23:47,600 Speaker 1: purchase is really important to curbing the food waste in 533 00:23:47,600 --> 00:23:50,800 Speaker 1: our lives, and and and that commitment alone, being more 534 00:23:50,840 --> 00:23:53,680 Speaker 1: intentional in that direction is going to have a much 535 00:23:53,680 --> 00:23:56,560 Speaker 1: bigger impact than clipping more coupons. Yeah, I feel like 536 00:23:56,560 --> 00:23:58,439 Speaker 1: this is a good time to make a case for leftovers. 537 00:23:58,560 --> 00:24:01,680 Speaker 1: So here's a little mini episode why leftovers are so great. 538 00:24:02,520 --> 00:24:05,040 Speaker 1: It's like your favorite topic you preachis to me, like 539 00:24:05,040 --> 00:24:09,240 Speaker 1: every love leftovers. First of all, I had leftover from lunch. Thanks. Yeah, 540 00:24:09,359 --> 00:24:11,240 Speaker 1: I did as well. And one of the reasons that 541 00:24:11,280 --> 00:24:13,920 Speaker 1: you probably enjoyed the leftover so much is because it's 542 00:24:13,920 --> 00:24:15,879 Speaker 1: so easy. It's so quick to just be able to 543 00:24:15,880 --> 00:24:18,080 Speaker 1: pull something out of the fridge, popping in the microwave, 544 00:24:18,200 --> 00:24:20,800 Speaker 1: and all of a sudden you've got a hot, delicious meal. 545 00:24:21,119 --> 00:24:22,520 Speaker 1: That's one of the other reasons why I love it 546 00:24:22,560 --> 00:24:25,680 Speaker 1: is like, dude, leftovers a lot of times they're even 547 00:24:25,800 --> 00:24:29,640 Speaker 1: better as leftovers than they were originally. Depend on the item. Yeah, 548 00:24:29,720 --> 00:24:34,679 Speaker 1: I mean, like like fried foods sometimes aren't so great. Uh, 549 00:24:34,840 --> 00:24:38,000 Speaker 1: salad not so good as leftover, But everything else it's 550 00:24:38,000 --> 00:24:39,800 Speaker 1: so much better than going home and making like a 551 00:24:39,800 --> 00:24:42,840 Speaker 1: cold Deli sandwich or something like that. Right, And then 552 00:24:42,880 --> 00:24:44,960 Speaker 1: of course, but the money savings when you're able to 553 00:24:44,960 --> 00:24:47,840 Speaker 1: eat those leftovers instead of just literally you're like scraping 554 00:24:47,840 --> 00:24:50,199 Speaker 1: money into the trash can if you've got food on 555 00:24:50,200 --> 00:24:51,879 Speaker 1: your plate and and you're not putting that in a 556 00:24:51,960 --> 00:24:54,080 Speaker 1: container and popping it in the fridge. Man, I'm all 557 00:24:54,119 --> 00:24:57,399 Speaker 1: about leftovers. But another way to move the dial in 558 00:24:57,480 --> 00:24:59,399 Speaker 1: a big way when it comes to the money we 559 00:24:59,440 --> 00:25:02,280 Speaker 1: spend on on food and groceries is choosing where you 560 00:25:02,320 --> 00:25:06,120 Speaker 1: shot for groceries. Wisely shopping at Aldi or Lethal if 561 00:25:06,119 --> 00:25:08,359 Speaker 1: you have one nearby, We'll save you a ton of 562 00:25:08,359 --> 00:25:10,840 Speaker 1: money compared to shopping at at almost any other store 563 00:25:11,200 --> 00:25:13,639 Speaker 1: and opting for store brands as much as possible as 564 00:25:13,640 --> 00:25:17,760 Speaker 1: another easy way to save big no coupons needed. Uh dude. 565 00:25:17,840 --> 00:25:20,680 Speaker 1: It makes me think of too, how when our local 566 00:25:20,720 --> 00:25:24,000 Speaker 1: Aldi was getting a facelift, it was getting like renovated 567 00:25:24,080 --> 00:25:27,320 Speaker 1: or whatever. It's so we haven't really talked about that, 568 00:25:27,320 --> 00:25:29,600 Speaker 1: have we. It's just organized so much better. I swear 569 00:25:29,640 --> 00:25:32,119 Speaker 1: it seems like it got bigger inside, but they didn't 570 00:25:32,200 --> 00:25:34,119 Speaker 1: change the footprint of the place. You know, it's it's 571 00:25:34,160 --> 00:25:37,159 Speaker 1: like better organized. Uh, it's more well lit, which is 572 00:25:37,200 --> 00:25:40,040 Speaker 1: a huge writer. You can see everything. But during that 573 00:25:40,040 --> 00:25:42,399 Speaker 1: period of time, like the other closest grocery store to 574 00:25:42,480 --> 00:25:45,360 Speaker 1: us was Kroger, and I swear our grocery budget went 575 00:25:45,440 --> 00:25:48,560 Speaker 1: up thirty because of being you know, being forced to 576 00:25:48,600 --> 00:25:51,600 Speaker 1: go there instead of Aldi. Uh. And so I'm just 577 00:25:51,640 --> 00:25:53,480 Speaker 1: making a case for Aldi. You know, like you don't 578 00:25:53,480 --> 00:25:54,879 Speaker 1: have to drive all the way out to you know, 579 00:25:54,920 --> 00:25:57,160 Speaker 1: wherever your costco is located in order to to save 580 00:25:57,200 --> 00:25:59,080 Speaker 1: big when it comes to groceries. It's true, but you 581 00:25:59,119 --> 00:26:01,680 Speaker 1: still can you want and you know you're not gonna 582 00:26:01,680 --> 00:26:05,359 Speaker 1: buy a bay Both autograph baseball at all. That's true. 583 00:26:05,400 --> 00:26:08,359 Speaker 1: So yeah, that's another aspect of your budget where you 584 00:26:08,400 --> 00:26:10,920 Speaker 1: can focus on the little small things on the periphery, 585 00:26:11,040 --> 00:26:13,760 Speaker 1: or you can make some bigger moves to actually meaningfully 586 00:26:13,760 --> 00:26:17,200 Speaker 1: cut back on your grocery budget. Eating in more, actually 587 00:26:17,200 --> 00:26:19,120 Speaker 1: eating the food that you buy is going to have 588 00:26:19,320 --> 00:26:21,280 Speaker 1: a big impact on the stuff that gets tossed out 589 00:26:21,320 --> 00:26:22,760 Speaker 1: in your trash, and also on the amount of money 590 00:26:22,760 --> 00:26:25,320 Speaker 1: that you're spending on food every month. And mat let's 591 00:26:25,320 --> 00:26:27,880 Speaker 1: get to some big money moves that people are probably 592 00:26:28,000 --> 00:26:32,560 Speaker 1: overlooking when it comes to saving and investing too by default, 593 00:26:32,600 --> 00:26:35,200 Speaker 1: Like people are going to to save more when they 594 00:26:35,240 --> 00:26:36,920 Speaker 1: earn more and it spend less. Like we we just 595 00:26:36,960 --> 00:26:39,040 Speaker 1: kind of covered those things, right, which is great. So 596 00:26:39,080 --> 00:26:41,320 Speaker 1: you're savings are going to increase when you start to 597 00:26:41,359 --> 00:26:44,080 Speaker 1: tackle these categories in a more significant way. But when 598 00:26:44,119 --> 00:26:45,879 Speaker 1: it comes to investing, let's talk about the things that 599 00:26:45,920 --> 00:26:48,240 Speaker 1: move the needle in a big way. There. What people 600 00:26:48,280 --> 00:26:51,879 Speaker 1: often focus on is finding the funds or individual stocks 601 00:26:52,040 --> 00:26:54,040 Speaker 1: that are going to outperform the market. That seems to 602 00:26:54,040 --> 00:26:58,200 Speaker 1: be something that a lot of young or novice investors 603 00:26:58,200 --> 00:27:00,520 Speaker 1: are interested in, like, well, what's the on it's gonna 604 00:27:00,600 --> 00:27:02,960 Speaker 1: give me the highest returns for years and years to come. 605 00:27:03,560 --> 00:27:06,080 Speaker 1: Or folks also maybe feel like they need to hire 606 00:27:06,160 --> 00:27:09,320 Speaker 1: someone to help them get started investing, and so until 607 00:27:09,359 --> 00:27:11,880 Speaker 1: they have the money to pay for a financial advisor 608 00:27:11,960 --> 00:27:15,080 Speaker 1: the services of someone to help them, they aren't going 609 00:27:15,080 --> 00:27:17,360 Speaker 1: to be able to get started. I would say this though, 610 00:27:17,359 --> 00:27:19,879 Speaker 1: that perfect is often the enemy of good. So instead 611 00:27:19,880 --> 00:27:22,280 Speaker 1: of focusing on those things, there are a couple of 612 00:27:22,320 --> 00:27:24,480 Speaker 1: other bigger things that Matt and I would say you 613 00:27:24,560 --> 00:27:26,560 Speaker 1: need to focus on first. Yeah, one of which is 614 00:27:26,600 --> 00:27:28,920 Speaker 1: to just get started, you know, instead of thinking about 615 00:27:28,960 --> 00:27:30,919 Speaker 1: it for a year and then maybe talking about it 616 00:27:30,920 --> 00:27:33,120 Speaker 1: for another year after that. I'm really good about talking 617 00:27:33,160 --> 00:27:34,920 Speaker 1: about stuff. It's like I swear this year I'm gonna 618 00:27:34,920 --> 00:27:37,760 Speaker 1: do it. Uh. Instead, just get the ball rolling. A 619 00:27:37,840 --> 00:27:41,120 Speaker 1: small move in an important part of your financial life 620 00:27:41,119 --> 00:27:44,000 Speaker 1: can have big results over time. And that's because even 621 00:27:44,280 --> 00:27:47,119 Speaker 1: that little amount that you're able to invest will compound 622 00:27:47,160 --> 00:27:49,480 Speaker 1: over time in a way that that just saving won't 623 00:27:49,520 --> 00:27:52,840 Speaker 1: be able to accomplish. So if you haven't started investing already, 624 00:27:52,840 --> 00:27:55,879 Speaker 1: start now and realize as well that you can easily 625 00:27:55,920 --> 00:27:58,800 Speaker 1: get things started by d i ying you're investing. You know, 626 00:27:58,840 --> 00:28:01,520 Speaker 1: like most people don't need to pay for an advisor 627 00:28:01,560 --> 00:28:04,239 Speaker 1: to help them with her investing, financial advisors can be 628 00:28:04,320 --> 00:28:06,800 Speaker 1: good for some people in some contexts uh. We We 629 00:28:06,880 --> 00:28:08,720 Speaker 1: kind of dove into that more back in episode two 630 00:28:08,720 --> 00:28:10,720 Speaker 1: oh six. If you you know whether or not you 631 00:28:10,760 --> 00:28:14,000 Speaker 1: need a financial advisor, But since getting started is key, 632 00:28:14,119 --> 00:28:17,000 Speaker 1: forego the advisor in favor of d i y ng 633 00:28:17,000 --> 00:28:20,800 Speaker 1: it um. Oftentimes we over complicate things, you know, we 634 00:28:20,800 --> 00:28:23,399 Speaker 1: we get too preoccupied with performance and the details and 635 00:28:23,440 --> 00:28:25,560 Speaker 1: making sure we have all the small nuances you know 636 00:28:25,600 --> 00:28:27,879 Speaker 1: correct and yes, like you do need to be make 637 00:28:27,880 --> 00:28:29,960 Speaker 1: sure that you're doing things correctly, but honestly, when it 638 00:28:29,960 --> 00:28:31,680 Speaker 1: comes to something as simple as a rath ira like, 639 00:28:31,720 --> 00:28:33,919 Speaker 1: there isn't much to get right. It's like you can 640 00:28:33,920 --> 00:28:36,280 Speaker 1: put six thousand dollars in there and then just buy 641 00:28:36,359 --> 00:28:39,040 Speaker 1: funds within that account. It's as easy as that, and 642 00:28:39,080 --> 00:28:40,920 Speaker 1: you could put it off for years and years and 643 00:28:41,000 --> 00:28:44,240 Speaker 1: years while you're thinking about the exact right way to 644 00:28:44,240 --> 00:28:47,480 Speaker 1: go about it um and trying to to hit perfection 645 00:28:47,560 --> 00:28:49,920 Speaker 1: when it comes to your saving and investing, or you 646 00:28:49,960 --> 00:28:52,560 Speaker 1: could just get started and get the ball rolling and 647 00:28:52,640 --> 00:28:56,880 Speaker 1: learn along the way. And sometimes those early forays into 648 00:28:56,920 --> 00:28:59,560 Speaker 1: investing are where we learn the most by doing in 649 00:28:59,600 --> 00:29:03,000 Speaker 1: ourselves and by actually just getting started. And I think 650 00:29:03,040 --> 00:29:05,640 Speaker 1: to Matt, one of the other big outsize things when 651 00:29:05,640 --> 00:29:08,120 Speaker 1: it comes to saving investing is the massive impact that 652 00:29:08,120 --> 00:29:11,880 Speaker 1: that high fees can have on returns over time. And 653 00:29:12,200 --> 00:29:15,320 Speaker 1: it's something that that most people don't give enough credence to. 654 00:29:16,040 --> 00:29:19,000 Speaker 1: The reason we mentioned companies consistently on the show, like Vanguard, 655 00:29:19,000 --> 00:29:21,960 Speaker 1: Fidelity and in one is because they offer access to 656 00:29:22,200 --> 00:29:25,560 Speaker 1: well diversified funds that have low or or sometimes even 657 00:29:25,680 --> 00:29:28,680 Speaker 1: no fees, which is pretty crazy. Uh. And you wouldn't 658 00:29:28,680 --> 00:29:31,360 Speaker 1: think that there be much of a difference between like 659 00:29:31,480 --> 00:29:34,840 Speaker 1: let's say point five percent fee or a point zero 660 00:29:34,880 --> 00:29:38,640 Speaker 1: five percent fee, literally half a percent or one percent, 661 00:29:38,720 --> 00:29:41,760 Speaker 1: But but that can actually easily be the difference of 662 00:29:41,920 --> 00:29:45,520 Speaker 1: a hundred thousand dollars over thirty five years of investing 663 00:29:45,520 --> 00:29:47,840 Speaker 1: in a wrath in your lifetime. And so while that 664 00:29:48,200 --> 00:29:51,600 Speaker 1: fee difference might seem minuscule, that increased fee that you're 665 00:29:51,640 --> 00:29:54,400 Speaker 1: paying is going to eat into your returns and over 666 00:29:54,480 --> 00:29:57,280 Speaker 1: time it's actually going to become a huge chunk of money. 667 00:29:57,360 --> 00:29:59,920 Speaker 1: So paying specific attention to the fees that you're paying 668 00:30:00,360 --> 00:30:03,680 Speaker 1: on any investment account that you're investing in is definitely 669 00:30:03,760 --> 00:30:05,760 Speaker 1: one of those big money areas that a lot of 670 00:30:05,760 --> 00:30:08,120 Speaker 1: people are overlooking. Yeah, that's right, man. So as we 671 00:30:08,160 --> 00:30:10,040 Speaker 1: wrap this up, you know, it turns out I think 672 00:30:10,040 --> 00:30:12,760 Speaker 1: that a lot of folks focus too intently on the 673 00:30:12,840 --> 00:30:15,840 Speaker 1: small things, and so what we want to encourage folks 674 00:30:15,880 --> 00:30:17,480 Speaker 1: to do is that you know, when you have your next, say, 675 00:30:17,520 --> 00:30:19,960 Speaker 1: budget meeting. Uh, it's important to put some of these 676 00:30:20,000 --> 00:30:23,120 Speaker 1: bigger things that move the needle up for discussion. You know, 677 00:30:23,160 --> 00:30:25,520 Speaker 1: you can save more than you thought you would, you know, 678 00:30:25,560 --> 00:30:28,840 Speaker 1: ever be able to if you do so. You know, 679 00:30:28,840 --> 00:30:30,680 Speaker 1: when you're trying to make some of these bigger money moves, 680 00:30:30,840 --> 00:30:32,120 Speaker 1: if you're really trying to put a dent in your 681 00:30:32,120 --> 00:30:34,920 Speaker 1: personal finances, you can't necessarily just like tighten your belt 682 00:30:34,960 --> 00:30:36,520 Speaker 1: just a little bit more. Like you might find that 683 00:30:36,560 --> 00:30:38,239 Speaker 1: this is an instance where you just need like a 684 00:30:38,280 --> 00:30:41,080 Speaker 1: brand new pair of pants, Like you need to completely 685 00:30:41,120 --> 00:30:43,280 Speaker 1: swap out. How it is that you're thinking about these 686 00:30:43,320 --> 00:30:45,680 Speaker 1: specific things. Uh, And instead of kind of just like 687 00:30:45,760 --> 00:30:47,560 Speaker 1: ratching it, you know a little bit more, or just 688 00:30:47,640 --> 00:30:49,840 Speaker 1: shaving a little bit off, it's worth looking at it 689 00:30:49,880 --> 00:30:51,840 Speaker 1: with a complete new set of eyes, or at least 690 00:30:51,840 --> 00:30:54,440 Speaker 1: from a completely different angle. Yeah, sometimes it helps to 691 00:30:54,480 --> 00:30:56,840 Speaker 1: have the goal that's informing the why behind those things. 692 00:30:57,040 --> 00:30:58,480 Speaker 1: And we talk about that a good bit on the 693 00:30:58,480 --> 00:31:00,600 Speaker 1: show too. But let's say you're in a lot of 694 00:31:00,640 --> 00:31:02,680 Speaker 1: student loan debt, or you're trying to pay off your 695 00:31:02,680 --> 00:31:05,000 Speaker 1: credit card debts and you want to accelerate the timeline. Well, 696 00:31:05,040 --> 00:31:07,080 Speaker 1: these are the big money moves that they're not just 697 00:31:07,080 --> 00:31:09,280 Speaker 1: gonna get you in an extra twenty bucks a month 698 00:31:09,400 --> 00:31:11,480 Speaker 1: to funnel towards that debt. They can get you hundreds 699 00:31:11,520 --> 00:31:15,760 Speaker 1: of extra dollars, yeah, to to funnel towards that debt, 700 00:31:15,960 --> 00:31:18,760 Speaker 1: so that it's not in your life for a decade 701 00:31:18,760 --> 00:31:20,880 Speaker 1: to come. That debt's in your life for a year 702 00:31:20,880 --> 00:31:22,680 Speaker 1: and a half to come, three years to come. And 703 00:31:22,720 --> 00:31:24,640 Speaker 1: that's the kind of stuff they can get people excited. 704 00:31:24,680 --> 00:31:27,640 Speaker 1: I think about making these money moves, it's like, I'm 705 00:31:27,640 --> 00:31:30,280 Speaker 1: willing to endure that big shift because I know it's 706 00:31:30,320 --> 00:31:33,240 Speaker 1: going to have this massive effect at slaying this debt 707 00:31:33,280 --> 00:31:36,000 Speaker 1: that I don't want hanging around much longer. And so, yeah, 708 00:31:36,080 --> 00:31:37,959 Speaker 1: make sure that those greater money goals that you have 709 00:31:38,200 --> 00:31:40,120 Speaker 1: are at the forefront when you're making these decisions. It's 710 00:31:40,160 --> 00:31:42,280 Speaker 1: gonna be helpful and it's gonna, I think, make it 711 00:31:42,320 --> 00:31:44,400 Speaker 1: more energizing to make some of these bigger money moves 712 00:31:44,400 --> 00:31:47,040 Speaker 1: to that's right, man, Yeah, absolutely, So let's shift gears. Now, 713 00:31:47,080 --> 00:31:48,640 Speaker 1: let's get back to a beer. This episode, you and 714 00:31:48,680 --> 00:31:52,000 Speaker 1: I enjoyed a beer called homeburg Bound, and this is 715 00:31:52,040 --> 00:31:56,400 Speaker 1: by Four Peaks Brewing Company out of Phoenix, Arizona. And dude, 716 00:31:56,400 --> 00:31:58,480 Speaker 1: before we actually talk about the beer, let's I wanted 717 00:31:58,480 --> 00:32:00,200 Speaker 1: to mention Jacob. So he's the one who sent us 718 00:32:00,240 --> 00:32:02,840 Speaker 1: these beers, and he talked about that during the pandemic, 719 00:32:02,920 --> 00:32:07,280 Speaker 1: his monthly income was cut fifty but he was still 720 00:32:07,320 --> 00:32:10,640 Speaker 1: able to maintain his his current debt levels without reducing 721 00:32:10,640 --> 00:32:12,400 Speaker 1: how much money he was putting into retirement. You know, 722 00:32:12,600 --> 00:32:15,160 Speaker 1: he made other changes in his life that allowed him 723 00:32:15,160 --> 00:32:17,560 Speaker 1: to stay on top of his personal finances. And dude, 724 00:32:17,560 --> 00:32:20,040 Speaker 1: how well does that align with this episode. I'm sure, 725 00:32:20,120 --> 00:32:23,160 Speaker 1: I'm sure Jacob was probably using some of the lever Swedish. Yes, yeah, 726 00:32:23,200 --> 00:32:25,000 Speaker 1: he wasn't. I doubt he was just like, oh, you know, 727 00:32:25,000 --> 00:32:28,200 Speaker 1: I'm more Cuban. Let me just cancel my Netflix subscription. 728 00:32:28,440 --> 00:32:30,520 Speaker 1: Let me, you know, get seven more bucks or how 729 00:32:30,600 --> 00:32:35,480 Speaker 1: much does the Netflix Gosh, So maybe you can actually 730 00:32:35,480 --> 00:32:37,080 Speaker 1: say a lot of money if you've got Netflix. But 731 00:32:37,240 --> 00:32:40,160 Speaker 1: it's not about just these small little tweaks. Sometimes it 732 00:32:40,240 --> 00:32:43,280 Speaker 1: takes making some massive changes to your life in order 733 00:32:43,320 --> 00:32:45,760 Speaker 1: to stay on top of your money. So, Jacob, we 734 00:32:45,800 --> 00:32:47,680 Speaker 1: are really glad to hear how you were able to 735 00:32:47,680 --> 00:32:50,120 Speaker 1: make some of those moves yourself this past year. And 736 00:32:50,120 --> 00:32:53,440 Speaker 1: we wish you the best one. And in addition to that, 737 00:32:53,480 --> 00:32:55,120 Speaker 1: you you sent us these beers, so we are really 738 00:32:55,400 --> 00:32:58,000 Speaker 1: thankful and appreciative of you doing that for us here. 739 00:32:58,040 --> 00:32:59,560 Speaker 1: But yeah, Joe, what were your thoughts on this beer? 740 00:32:59,600 --> 00:33:01,080 Speaker 1: All right? Man? I thought it was really interesting. I 741 00:33:01,080 --> 00:33:02,840 Speaker 1: don't think we've ever had a red i PA on 742 00:33:02,880 --> 00:33:04,120 Speaker 1: the show. I don't think so. I think I've had 743 00:33:04,120 --> 00:33:06,200 Speaker 1: a red I p A in quite some time. It's 744 00:33:06,240 --> 00:33:08,880 Speaker 1: interesting because it combines notes from a couple of different 745 00:33:08,880 --> 00:33:11,440 Speaker 1: beer styles. It kind of has like a brown ale 746 00:33:11,520 --> 00:33:13,680 Speaker 1: effect with like some of the multi stuff going on, 747 00:33:13,920 --> 00:33:16,160 Speaker 1: but then it also has like a piny hop character 748 00:33:16,360 --> 00:33:19,160 Speaker 1: at the same time. So it's like this really interesting 749 00:33:19,280 --> 00:33:22,320 Speaker 1: fusion of two different styles. And man, I thought it 750 00:33:22,400 --> 00:33:24,360 Speaker 1: was really nice. It was definitely different and kind of 751 00:33:24,400 --> 00:33:26,560 Speaker 1: like a throwback beer style I think that I haven't 752 00:33:26,600 --> 00:33:29,040 Speaker 1: had in a minute. Um, But yeah, I really really 753 00:33:29,120 --> 00:33:30,680 Speaker 1: enjoyed it too. Yeah, it's kind of a blend between 754 00:33:30,720 --> 00:33:33,080 Speaker 1: an I p A and like an amber ale, you know. Like, 755 00:33:33,160 --> 00:33:35,200 Speaker 1: and so what makes an I p A red is 756 00:33:35,200 --> 00:33:38,680 Speaker 1: the fact that it has more malts uh in the grain. Bill, 757 00:33:38,800 --> 00:33:41,280 Speaker 1: I think that's right, But basically, I mean that's what 758 00:33:41,360 --> 00:33:43,320 Speaker 1: gives it a little more body than an I p 759 00:33:43,400 --> 00:33:45,880 Speaker 1: A typically the traditional American I P A at least 760 00:33:46,080 --> 00:33:47,440 Speaker 1: uh and it's what gives it a little more of 761 00:33:47,480 --> 00:33:50,080 Speaker 1: that kind of multi sweetness. It's a really delicious beer. 762 00:33:50,120 --> 00:33:52,720 Speaker 1: I wanted to point out to that the brewery whenever 763 00:33:52,720 --> 00:33:56,280 Speaker 1: they release this beer, they they contribute funds from the 764 00:33:56,320 --> 00:33:59,360 Speaker 1: sales of this beer to the Arizona Humane Society and 765 00:33:59,360 --> 00:34:01,960 Speaker 1: they have like site pet adoptions and stuff like that, 766 00:34:02,000 --> 00:34:04,160 Speaker 1: which is super cool. Definitely. I don't know. With a 767 00:34:04,160 --> 00:34:06,440 Speaker 1: lot of folks working from home, we've we've seen the 768 00:34:06,440 --> 00:34:10,560 Speaker 1: different stories about how pet adoptions skyrocket, and as folks 769 00:34:10,600 --> 00:34:13,239 Speaker 1: we're looking for companionship. It's good for a lot of 770 00:34:13,239 --> 00:34:15,200 Speaker 1: pets and need at homes. Yeah yeah, So that's super 771 00:34:15,239 --> 00:34:16,880 Speaker 1: encouraging to hear. And hopefully we'll be able to to 772 00:34:16,880 --> 00:34:18,879 Speaker 1: get back to more those kind of in person fun 773 00:34:18,960 --> 00:34:22,520 Speaker 1: events like that as this year progresses. Who knows what 774 00:34:22,520 --> 00:34:24,439 Speaker 1: we have in store for one, but Joe, I'm glad 775 00:34:24,440 --> 00:34:26,360 Speaker 1: that you and I were able to enjoy this beer together. 776 00:34:26,400 --> 00:34:28,359 Speaker 1: And thanks again to Jacob for sending this one our way, 777 00:34:28,440 --> 00:34:29,920 Speaker 1: no doubt. All right, man, that's gonna do it for 778 00:34:30,080 --> 00:34:32,200 Speaker 1: this episode. For folks that want the show notes and 779 00:34:32,239 --> 00:34:34,000 Speaker 1: links to some of the things that we talked about, well, 780 00:34:34,000 --> 00:34:35,600 Speaker 1: you can just go to our website at how to 781 00:34:35,719 --> 00:34:38,040 Speaker 1: Money dot com and if you've enjoyed this episode, if 782 00:34:38,040 --> 00:34:39,880 Speaker 1: you enjoy the show How the Money, we would be 783 00:34:39,920 --> 00:34:42,080 Speaker 1: incredibly grateful if you were to head over to Apple 784 00:34:42,120 --> 00:34:45,359 Speaker 1: Podcasts and leave us a solid rating and review over there. 785 00:34:45,719 --> 00:34:47,720 Speaker 1: It certainly helps out the show, and it helps to 786 00:34:47,719 --> 00:34:50,000 Speaker 1: to get the message of How the Money out there 787 00:34:50,040 --> 00:34:52,520 Speaker 1: to those who need to hear two best buddies talking 788 00:34:52,560 --> 00:34:55,680 Speaker 1: about personal finance as folks are out there learning how 789 00:34:55,719 --> 00:34:57,879 Speaker 1: to handle their money better. Uh so, Joel Man, that's 790 00:34:57,880 --> 00:34:59,759 Speaker 1: gonna be it for this episode, Buddy. Until next time, 791 00:35:00,000 --> 00:35:01,759 Speaker 1: Best Friends Out, Best Friends Out,