1 00:00:00,080 --> 00:00:02,719 Speaker 1: Welcome to How the Money. I'm Joel and I and Matt's. 2 00:00:02,840 --> 00:00:25,919 Speaker 1: Today we're discussing frugality is cool again and bike riding surges. Joel, 3 00:00:25,920 --> 00:00:27,440 Speaker 1: I don't think there could be an episode that's more 4 00:00:27,440 --> 00:00:31,040 Speaker 1: appropriately named for our podcast, Like, these are all the 5 00:00:31,080 --> 00:00:32,919 Speaker 1: things that we love. We love being frugal, we love 6 00:00:32,960 --> 00:00:36,760 Speaker 1: bike riding. It's finally taken a pandemic maybe to get 7 00:00:36,800 --> 00:00:40,400 Speaker 1: people on board doing the things that we love to do. Yeah, seriously, 8 00:00:40,400 --> 00:00:42,720 Speaker 1: why weren't they listening before? But at least they're listening now. 9 00:00:42,720 --> 00:00:44,919 Speaker 1: They're riding their bikes, they're spending less money there being 10 00:00:44,920 --> 00:00:46,839 Speaker 1: more frugal. I love it. Yeah, bike riding. That was 11 00:00:46,880 --> 00:00:50,280 Speaker 1: like our second or third episode ever. I'm sure early 12 00:00:50,320 --> 00:00:53,080 Speaker 1: on we did an episode on frugality too, right, I'm 13 00:00:53,120 --> 00:00:54,680 Speaker 1: sure we did, yeah, but it's hard to have I 14 00:00:54,720 --> 00:00:57,560 Speaker 1: don't remember either way, though, it's it's distant backlogs viewed 15 00:00:57,600 --> 00:01:01,720 Speaker 1: into the character in the ethos of our show, for sure. Exactly. Hey, Matt, 16 00:01:01,760 --> 00:01:04,480 Speaker 1: how are you doing? It's week eight of the quarantine 17 00:01:04,600 --> 00:01:08,160 Speaker 1: right too? Stinking months? Isn't that insane? But things for 18 00:01:08,240 --> 00:01:10,200 Speaker 1: us have been going pretty good at this point. You know, 19 00:01:10,280 --> 00:01:12,440 Speaker 1: I mentioned I kind of hinted at last week how 20 00:01:12,800 --> 00:01:15,679 Speaker 1: the first week or two was sort of like and 21 00:01:15,720 --> 00:01:17,280 Speaker 1: I kind of felt like a vacation a little bit. 22 00:01:17,319 --> 00:01:20,160 Speaker 1: It's a little more unstructured. But then, uh, the weeks 23 00:01:20,200 --> 00:01:22,200 Speaker 1: after that, we're hard man, you know, Like, you know, 24 00:01:22,280 --> 00:01:24,039 Speaker 1: we had a tough time. I think one of the 25 00:01:24,040 --> 00:01:26,480 Speaker 1: things we realized was was how important date nights have 26 00:01:26,680 --> 00:01:29,360 Speaker 1: been for us, and we haven't really had those recently. 27 00:01:30,000 --> 00:01:31,960 Speaker 1: We we swap with you guys, with you and Emily, 28 00:01:32,280 --> 00:01:33,640 Speaker 1: you know, I'll go over and watch your kids while 29 00:01:33,680 --> 00:01:35,440 Speaker 1: y'all go on a date night, and then the next 30 00:01:35,480 --> 00:01:37,800 Speaker 1: week vice versa, right, And so we have this sort 31 00:01:37,800 --> 00:01:40,640 Speaker 1: of built in structure. We have this framework established to 32 00:01:40,720 --> 00:01:43,240 Speaker 1: where we can each kind of connect with our wives 33 00:01:43,240 --> 00:01:45,320 Speaker 1: and talk about adult things and go out to dinner 34 00:01:45,400 --> 00:01:47,520 Speaker 1: and and and have an adult conversation. You know, it's 35 00:01:47,560 --> 00:01:50,200 Speaker 1: just rare with so many kids running around exactly if 36 00:01:50,240 --> 00:01:52,240 Speaker 1: it's hard to do. And so you know, you guys 37 00:01:52,240 --> 00:01:53,640 Speaker 1: do that at least twice a month. We do that 38 00:01:53,680 --> 00:01:56,160 Speaker 1: at least twice a month normally. But then once the 39 00:01:56,160 --> 00:01:59,120 Speaker 1: lockdown began, that's not something obviously that we could continue. 40 00:01:59,600 --> 00:02:01,520 Speaker 1: But it also meant that our relationships suffered, and I 41 00:02:01,560 --> 00:02:04,200 Speaker 1: don't even think we realized it until maybe like five 42 00:02:04,200 --> 00:02:07,640 Speaker 1: weeks in, but you know, we we became increasingly impatient 43 00:02:07,680 --> 00:02:10,280 Speaker 1: with each other style, yeah, and and we realized we 44 00:02:10,280 --> 00:02:12,640 Speaker 1: weren't like we were just functioning. We're making sure our 45 00:02:12,680 --> 00:02:15,760 Speaker 1: household was staying together, like functionally, you know, running tech 46 00:02:15,800 --> 00:02:18,960 Speaker 1: support for the kids with their zoom calls and just 47 00:02:19,320 --> 00:02:22,320 Speaker 1: all that, having kids at home and tales because it's tough, right, 48 00:02:22,360 --> 00:02:25,280 Speaker 1: Like all of us are experiencing a quarantine in different ways, 49 00:02:25,400 --> 00:02:27,200 Speaker 1: but it's also tough when you have kids at home. 50 00:02:27,480 --> 00:02:29,600 Speaker 1: And so I just wanted to mention that because just 51 00:02:29,639 --> 00:02:31,520 Speaker 1: being aware to that, I think is the first step 52 00:02:31,720 --> 00:02:34,440 Speaker 1: in making sure that you're taking the steps necessary to 53 00:02:34,600 --> 00:02:37,560 Speaker 1: ensure that your relationships aren't suffering. Specifically, if you have 54 00:02:37,600 --> 00:02:39,440 Speaker 1: a partner, you know, so I mean, if you do 55 00:02:39,600 --> 00:02:41,440 Speaker 1: have a partner or a spouse, I would recommend that 56 00:02:41,440 --> 00:02:43,320 Speaker 1: you make sure that you're talking about stuff and make 57 00:02:43,320 --> 00:02:46,240 Speaker 1: sure that you're understood and that you feel heard and seen. 58 00:02:46,880 --> 00:02:49,000 Speaker 1: Hopefully this time can be a time that we can 59 00:02:49,080 --> 00:02:51,760 Speaker 1: kind of grow our relationships and not just put them 60 00:02:51,800 --> 00:02:55,440 Speaker 1: on pause or even worse, see them decline, because overall, 61 00:02:55,520 --> 00:02:56,959 Speaker 1: it's it's a tough thing to do when you get 62 00:02:57,040 --> 00:02:59,160 Speaker 1: a monkey wrench kind of thrown into the gears of 63 00:02:59,480 --> 00:03:02,040 Speaker 1: our daily life. Yeah. I think a lot of relationships 64 00:03:02,080 --> 00:03:04,400 Speaker 1: have have suffered in this time, right. Some have thrived 65 00:03:04,400 --> 00:03:06,880 Speaker 1: and others have suffered, just depending on what your new 66 00:03:06,919 --> 00:03:08,920 Speaker 1: normal looks like, what your routine looks like. And I 67 00:03:08,960 --> 00:03:11,720 Speaker 1: think most of our relationships have probably had more ups 68 00:03:11,760 --> 00:03:14,760 Speaker 1: and downs than they typically have, just because our routines 69 00:03:14,800 --> 00:03:17,359 Speaker 1: have been completely upended. But that's that's a good note. 70 00:03:17,400 --> 00:03:18,760 Speaker 1: That's a good thing to be aware of and good 71 00:03:18,760 --> 00:03:21,080 Speaker 1: to have those lines of communication open. This is not 72 00:03:21,400 --> 00:03:25,600 Speaker 1: uh therapy podcast marriage therapy podcast. But by the way, too, 73 00:03:25,680 --> 00:03:28,519 Speaker 1: if your spouse is a mother, Mother's Day is coming 74 00:03:28,600 --> 00:03:30,480 Speaker 1: up this weekend, and so it's a perfect time to 75 00:03:30,600 --> 00:03:34,399 Speaker 1: specifically make sure that your love for them is made 76 00:03:34,440 --> 00:03:37,120 Speaker 1: known and that they're treated especially well. Nice man, good 77 00:03:37,120 --> 00:03:39,640 Speaker 1: little reminder for everyone out there. Yeah, all right, Matt, 78 00:03:39,680 --> 00:03:42,760 Speaker 1: But we always start out these podcasts with the good news. 79 00:03:42,960 --> 00:03:45,400 Speaker 1: Good news, let's get into some good stuff. And there 80 00:03:45,440 --> 00:03:47,800 Speaker 1: was something that we mentioned last week on on the 81 00:03:47,800 --> 00:03:50,120 Speaker 1: show that was kind of some bad news about a 82 00:03:50,160 --> 00:03:53,720 Speaker 1: lot of beer going stale, and so I saw this 83 00:03:53,840 --> 00:03:58,240 Speaker 1: article this week that uh turned stale beer into really 84 00:03:58,280 --> 00:04:01,240 Speaker 1: good news because it's being turned into whiskey. And one 85 00:04:01,240 --> 00:04:03,560 Speaker 1: of my favorite whiskey distilleries out of Vermont is called 86 00:04:03,600 --> 00:04:06,400 Speaker 1: whistle Pig. They make some some really good whiskey. It's 87 00:04:06,480 --> 00:04:08,760 Speaker 1: kind of you've got some expensive taste. It is kind 88 00:04:08,760 --> 00:04:11,480 Speaker 1: of expensive. And I've actually never purchased a bottle on 89 00:04:11,520 --> 00:04:13,480 Speaker 1: my own, although that's that's in my that's on my 90 00:04:13,560 --> 00:04:16,440 Speaker 1: to do list someday maybe when something monumental happens. I 91 00:04:16,760 --> 00:04:18,240 Speaker 1: don't know what that would be, but I thought, you've 92 00:04:18,240 --> 00:04:19,719 Speaker 1: got a bottle of that at your house. No, I 93 00:04:19,760 --> 00:04:22,279 Speaker 1: don't know. I've been too cheap to buy it, dude, 94 00:04:22,520 --> 00:04:24,200 Speaker 1: I need to actually get around to doing so. You'll 95 00:04:24,240 --> 00:04:26,480 Speaker 1: just order an old fashioned while you're out that has 96 00:04:26,520 --> 00:04:30,159 Speaker 1: whistle Pig occasionally. Everyone's in a yeah, special occasions only. 97 00:04:30,880 --> 00:04:34,200 Speaker 1: So so, Whistle Pig Distilleria up in the Northeast is 98 00:04:34,200 --> 00:04:37,920 Speaker 1: bringing old beer from nearby brewers like Harpoon, Lawsons and 99 00:04:38,000 --> 00:04:41,200 Speaker 1: Hill Farmstead, and they're salvaging that beer with no fee 100 00:04:41,240 --> 00:04:44,000 Speaker 1: to the breweries, and this actually saves the brewery's money. 101 00:04:44,120 --> 00:04:46,719 Speaker 1: And at the same time, whistle Pig is trying to 102 00:04:46,720 --> 00:04:48,880 Speaker 1: make whiskey out of stale beer. I don't know how 103 00:04:48,920 --> 00:04:50,760 Speaker 1: that works or exactly what that looks like or how 104 00:04:50,800 --> 00:04:53,440 Speaker 1: good the whiskey taste, but I'm interested to try a 105 00:04:53,480 --> 00:04:56,640 Speaker 1: batch of stale beer turned into whiskey done by whistle Pig, 106 00:04:56,920 --> 00:05:00,000 Speaker 1: specifically to coming from these guys like Lawson's and Hill Farmstead. 107 00:05:00,440 --> 00:05:02,240 Speaker 1: We actually haven't had any other beers on the show, 108 00:05:02,320 --> 00:05:05,640 Speaker 1: but hopefully we will soon. I'd love that maybe we 109 00:05:05,680 --> 00:05:07,440 Speaker 1: can reach out to those breweries. But then they make 110 00:05:07,480 --> 00:05:09,719 Speaker 1: some of those amazing New England style I p a 111 00:05:09,880 --> 00:05:11,920 Speaker 1: s where they have a cult following, and Hill farm 112 00:05:12,000 --> 00:05:13,960 Speaker 1: said makes just like a lot of farmhouse style beers 113 00:05:13,960 --> 00:05:16,720 Speaker 1: that sound really tasty too. But yeah, Joe, in that 114 00:05:16,839 --> 00:05:20,400 Speaker 1: article they mentioned how specifically, I mean, the more flavor 115 00:05:20,440 --> 00:05:22,680 Speaker 1: of beer has, the more flavor that the whiskey is 116 00:05:22,680 --> 00:05:24,719 Speaker 1: gonna have. And so yeah, it'll be interesting to see 117 00:05:24,760 --> 00:05:26,440 Speaker 1: what comes out of that. I know they're really interested 118 00:05:26,440 --> 00:05:28,039 Speaker 1: in seeing, because they're not really gonna know until a 119 00:05:28,040 --> 00:05:30,920 Speaker 1: few years out after they've you know, distilled it down, 120 00:05:31,400 --> 00:05:33,960 Speaker 1: and they say they're gonna start working with the brewery 121 00:05:34,000 --> 00:05:37,720 Speaker 1: specifically to figure out a barrel aging program and what 122 00:05:37,720 --> 00:05:40,679 Speaker 1: they're gonna do to to make this whiskey extra delicious, 123 00:05:40,680 --> 00:05:42,800 Speaker 1: and they're gonna kind of co opt it together since 124 00:05:42,839 --> 00:05:45,200 Speaker 1: it's obviously made from their beer. But yeah, that's super cool, man, 125 00:05:45,240 --> 00:05:47,680 Speaker 1: What an awesome way to to save a lot of 126 00:05:47,680 --> 00:05:49,919 Speaker 1: beer that's going to waste. I got a little surprise 127 00:05:50,000 --> 00:05:52,400 Speaker 1: good news for you. Uh, this wasn't in our notes, 128 00:05:52,640 --> 00:05:55,000 Speaker 1: but did you see that j K. Rowling is doing 129 00:05:55,040 --> 00:05:57,520 Speaker 1: Harry Potter at home? No, you haven't heard anything about 130 00:05:57,520 --> 00:06:00,200 Speaker 1: this because I just finished all the whole series on 131 00:06:00,720 --> 00:06:03,160 Speaker 1: my library Apple, listening to all the books, so you 132 00:06:03,240 --> 00:06:06,719 Speaker 1: know you finished book seventh. Yea, we gotta talk about it. Well. 133 00:06:06,720 --> 00:06:09,760 Speaker 1: On that note, different celebrities are going to be reading 134 00:06:10,000 --> 00:06:14,640 Speaker 1: chapters from the Harry Potter books. Specifically, Uh, Daniel Radcliffe 135 00:06:14,720 --> 00:06:17,600 Speaker 1: is reading chapter one from book one, and uh, I 136 00:06:17,640 --> 00:06:19,279 Speaker 1: think they're going to try to run through all of them, 137 00:06:19,440 --> 00:06:21,680 Speaker 1: but they're going to have different individuals who I don't 138 00:06:21,720 --> 00:06:24,280 Speaker 1: know is either friends with j K Rolling or either 139 00:06:24,480 --> 00:06:27,040 Speaker 1: big fans of the books step in and read some 140 00:06:27,080 --> 00:06:29,080 Speaker 1: of those. Maybe she'll reach out to her favorite finance 141 00:06:29,120 --> 00:06:31,040 Speaker 1: podcast and one of us can read a chapter. My gosh, 142 00:06:31,040 --> 00:06:33,320 Speaker 1: it's been years, but I would love to j K. 143 00:06:34,000 --> 00:06:35,960 Speaker 1: Let us know. Yeah, let us know if if you 144 00:06:36,040 --> 00:06:38,240 Speaker 1: happen to listen. But it's not gonna happen. But when 145 00:06:38,240 --> 00:06:40,320 Speaker 1: I let you know that little tidbit of good news, 146 00:06:40,880 --> 00:06:43,200 Speaker 1: I thought that was really cool. That's really cool. On 147 00:06:43,360 --> 00:06:46,559 Speaker 1: the health insurance front, man, I saw that Humana they're 148 00:06:46,720 --> 00:06:49,240 Speaker 1: waiving co pays. We mentioned on a previous episode that 149 00:06:49,279 --> 00:06:52,160 Speaker 1: a lot of the big health insurance providers aren't making 150 00:06:52,279 --> 00:06:56,360 Speaker 1: members reach their deductibles before covering costs related to COVID nineteen. Well, 151 00:06:56,440 --> 00:06:59,200 Speaker 1: Humana is taking it a step further man, uh, for 152 00:06:59,279 --> 00:07:03,039 Speaker 1: Medicare Advance each members, they're waving in network primary care 153 00:07:03,120 --> 00:07:06,200 Speaker 1: costs not only for COVID nineteen, but for all primary 154 00:07:06,320 --> 00:07:08,000 Speaker 1: care visits for the rest of the year, for the 155 00:07:08,040 --> 00:07:10,880 Speaker 1: rest of This is great news. And they're also going 156 00:07:10,920 --> 00:07:14,320 Speaker 1: to be including some mental health as well for their members, obviously, 157 00:07:14,360 --> 00:07:18,920 Speaker 1: as depression might be exacerbated considering the the lockdown and 158 00:07:18,920 --> 00:07:21,240 Speaker 1: and the limited social interactions that we've been able to have. 159 00:07:21,360 --> 00:07:24,040 Speaker 1: But uh, yeah, that was just an awesome way that humanity, 160 00:07:24,040 --> 00:07:26,800 Speaker 1: this massive company is stepping up and making sure that 161 00:07:26,800 --> 00:07:29,520 Speaker 1: they're providing for their members. Yeah, that's great news and 162 00:07:29,600 --> 00:07:31,400 Speaker 1: a lot of people, Matt I think have been putting 163 00:07:31,400 --> 00:07:34,520 Speaker 1: off going to the doctor because they're afraid of getting 164 00:07:34,560 --> 00:07:37,440 Speaker 1: sick even more than they already are. So people haven't 165 00:07:37,520 --> 00:07:39,760 Speaker 1: been seeing their physician on the rag and maybe this 166 00:07:39,800 --> 00:07:41,960 Speaker 1: is just an extra boost. If you're not having to 167 00:07:42,000 --> 00:07:43,800 Speaker 1: pay anything out of pocket, it's like, okay, cool, it 168 00:07:43,920 --> 00:07:45,800 Speaker 1: is worth getting out there and seeing my doctor. And 169 00:07:45,840 --> 00:07:49,679 Speaker 1: if you've got something particularly troubling you, then you should 170 00:07:49,720 --> 00:07:52,200 Speaker 1: be seeing your doctor. And this just takes a barrier 171 00:07:52,240 --> 00:07:54,840 Speaker 1: away from that. Yeah, one less hurdle. Yeah, exactly. So 172 00:07:55,040 --> 00:07:57,680 Speaker 1: another piece of good news, COVID is allowing for more 173 00:07:57,720 --> 00:08:01,240 Speaker 1: work from home opportunities and in particular for those with disabilities. 174 00:08:01,480 --> 00:08:03,680 Speaker 1: There's one person that was quoted saying I was told 175 00:08:03,720 --> 00:08:07,120 Speaker 1: I can never work remotely and before coronavirus, workers with 176 00:08:07,160 --> 00:08:10,080 Speaker 1: disabilities say they were asking their employers to allow them 177 00:08:10,120 --> 00:08:13,000 Speaker 1: to work from home, but to no availed. Despite their disability, 178 00:08:12,880 --> 00:08:16,040 Speaker 1: they weren't being offered any sort of help and any 179 00:08:16,040 --> 00:08:18,240 Speaker 1: sort of ability to work from home, which is a bummer. 180 00:08:18,440 --> 00:08:20,080 Speaker 1: But for a lot of those folks who who that 181 00:08:20,200 --> 00:08:23,240 Speaker 1: didn't have that option, this multi month long test run 182 00:08:23,520 --> 00:08:25,560 Speaker 1: has been a huge win for them. For a lot 183 00:08:25,600 --> 00:08:29,120 Speaker 1: of folks, but especially, uh, folks with disabilities. So not 184 00:08:29,200 --> 00:08:32,079 Speaker 1: only have businesses realized that it's a possibility, but also 185 00:08:32,120 --> 00:08:34,840 Speaker 1: that it's a necessity. And I love seeing people that 186 00:08:35,200 --> 00:08:39,080 Speaker 1: particularly benefit from this ability to work from home. Right, 187 00:08:39,080 --> 00:08:41,160 Speaker 1: for other people, it's nice, it's a comfort, it means 188 00:08:41,160 --> 00:08:43,840 Speaker 1: no commute, But for other people, particularly people with disabilities, 189 00:08:44,000 --> 00:08:45,840 Speaker 1: it's a huge win and it makes an even bigger 190 00:08:45,840 --> 00:08:48,920 Speaker 1: difference than it would for non disabled people. Nice man. 191 00:08:49,000 --> 00:08:51,560 Speaker 1: And one last little bit of good news wanted to share, uh, 192 00:08:51,559 --> 00:08:54,360 Speaker 1: and that is that the infection rates of COVID nineteen 193 00:08:54,360 --> 00:08:57,880 Speaker 1: in Georgia, they are leveling off and holding steady man 194 00:08:57,960 --> 00:08:59,959 Speaker 1: by by no means are we you know, anywhere near 195 00:09:00,000 --> 00:09:01,880 Speaker 1: are being out of the woods. But it is slightly 196 00:09:01,960 --> 00:09:04,559 Speaker 1: encouraging to see that the rate of infection didn't jump, 197 00:09:04,840 --> 00:09:07,480 Speaker 1: it didn't shoot through the roof once these non essential 198 00:09:07,520 --> 00:09:10,120 Speaker 1: businesses were allowed to open a couple of weeks ago. 199 00:09:10,240 --> 00:09:11,880 Speaker 1: It was, you know, right at two weeks ago that 200 00:09:11,920 --> 00:09:14,960 Speaker 1: our governor allowed for non essential businesses to open specifically 201 00:09:15,000 --> 00:09:17,720 Speaker 1: like hair salons, bowling alleys. Was one that kind of 202 00:09:17,920 --> 00:09:20,080 Speaker 1: stood out to us as odd. That was the odd one, 203 00:09:20,360 --> 00:09:22,120 Speaker 1: and I think a big part of the reason that 204 00:09:22,200 --> 00:09:23,920 Speaker 1: we have seen a leveling off is that a lot 205 00:09:23,960 --> 00:09:27,560 Speaker 1: of businesses have either a stayed closed for the time 206 00:09:27,559 --> 00:09:30,520 Speaker 1: being because they feel it's safer for them and for 207 00:09:30,559 --> 00:09:32,640 Speaker 1: their employees and for their customers that way, And a 208 00:09:32,720 --> 00:09:35,640 Speaker 1: lot of other businesses, the ones that have opened, have 209 00:09:36,000 --> 00:09:39,320 Speaker 1: taken a huge amount of precautions in order to be 210 00:09:39,360 --> 00:09:41,880 Speaker 1: able to open well and to to open safely. And 211 00:09:41,920 --> 00:09:44,480 Speaker 1: so yeah, everything I'm seeing out there about businesses that 212 00:09:44,520 --> 00:09:48,040 Speaker 1: are reopening there being really cautious. They're being really smart 213 00:09:48,400 --> 00:09:52,080 Speaker 1: and taking their own employees and their customers into consideration 214 00:09:52,320 --> 00:09:54,760 Speaker 1: to make sure that everybody can get back to work 215 00:09:54,800 --> 00:09:57,040 Speaker 1: in a safe and healthy way. So yeah, I think 216 00:09:57,040 --> 00:09:59,960 Speaker 1: we were a little nervous when there was starting to 217 00:10:00,000 --> 00:10:01,800 Speaker 1: open the floodgates and we were like, hous is gonna 218 00:10:01,840 --> 00:10:04,080 Speaker 1: work out? But it seems to have worked out okay 219 00:10:04,080 --> 00:10:05,600 Speaker 1: so far. Yeah. It really felt like that we were 220 00:10:05,600 --> 00:10:07,520 Speaker 1: going to be the canaries in the coal mine, right, 221 00:10:08,200 --> 00:10:10,439 Speaker 1: and that was an uncomfortable position to be in. But 222 00:10:10,480 --> 00:10:12,600 Speaker 1: I don't want to be a guinea pig exactly. Yeah. 223 00:10:12,600 --> 00:10:16,920 Speaker 1: But but as businesses have opened and we've taken these precautions, 224 00:10:16,920 --> 00:10:18,880 Speaker 1: I think we're starting to get used to the idea 225 00:10:19,080 --> 00:10:21,920 Speaker 1: that this virus, this pandemic is going to be with 226 00:10:22,040 --> 00:10:23,720 Speaker 1: us for a while, so we need to make sure 227 00:10:23,760 --> 00:10:26,560 Speaker 1: that we're taking the steps necessary to to protect ourselves. 228 00:10:26,559 --> 00:10:28,520 Speaker 1: We're living in this gray area. You know, it's not 229 00:10:28,559 --> 00:10:30,760 Speaker 1: either black or white. It's you know, businesses aren't either 230 00:10:30,840 --> 00:10:33,199 Speaker 1: open or closed. There's a lot of middle ground. And 231 00:10:33,240 --> 00:10:35,400 Speaker 1: I think we're gonna find ourselves in that middle ground 232 00:10:35,720 --> 00:10:38,120 Speaker 1: at least for the remainder of the year. Yeah, I agree. 233 00:10:38,200 --> 00:10:40,400 Speaker 1: So all right, Matt, let's get to something else that's 234 00:10:40,440 --> 00:10:43,720 Speaker 1: kind of interesting to note. Bike riding is on the 235 00:10:43,800 --> 00:10:47,280 Speaker 1: rise in a massive Yeah, and we're big fans of this. 236 00:10:47,600 --> 00:10:50,160 Speaker 1: It's been interesting just to see around the neighborhood just 237 00:10:50,160 --> 00:10:52,520 Speaker 1: sitting on my porch or whatever, how many people are 238 00:10:52,559 --> 00:10:55,640 Speaker 1: riding their bikes and people that I'm talking to that 239 00:10:55,840 --> 00:10:58,520 Speaker 1: haven't in their bike maybe in years, they're dust in 240 00:10:58,520 --> 00:11:01,400 Speaker 1: and off, they're getting it back out there. And so 241 00:11:01,559 --> 00:11:03,959 Speaker 1: it's led to one thing, a lot of bike models 242 00:11:04,000 --> 00:11:07,000 Speaker 1: being sold out and a lot of bike shops being 243 00:11:07,120 --> 00:11:10,120 Speaker 1: overrun with repairs. And I know that in late March, 244 00:11:10,200 --> 00:11:12,560 Speaker 1: our state said that bike shops were an essential place 245 00:11:12,600 --> 00:11:15,280 Speaker 1: of business. So We were all pumped about that, because yeah, 246 00:11:15,320 --> 00:11:17,199 Speaker 1: you need a bike to get around, and bike shops 247 00:11:17,320 --> 00:11:20,160 Speaker 1: are essential in our opinion. And so from the news 248 00:11:20,160 --> 00:11:23,040 Speaker 1: I'm seeing to the bike shops are are overrun. And actually, Matt, 249 00:11:23,280 --> 00:11:26,520 Speaker 1: I called a local mobile bike repair shop used to 250 00:11:26,520 --> 00:11:29,320 Speaker 1: come out and fix back wheel on my cargo bike 251 00:11:29,720 --> 00:11:31,960 Speaker 1: and it was crazy. I called him up and he 252 00:11:32,000 --> 00:11:34,679 Speaker 1: was just like, I'm so busy, this is this is 253 00:11:34,720 --> 00:11:37,720 Speaker 1: the craziest my life has ever been. And so he 254 00:11:37,760 --> 00:11:40,920 Speaker 1: seemed like he needed a day off, he needed a break. 255 00:11:41,120 --> 00:11:42,720 Speaker 1: So I was like, cool, I'll call you back next week. 256 00:11:42,960 --> 00:11:45,360 Speaker 1: But that's kind of what's happening with bike shops around 257 00:11:45,400 --> 00:11:47,520 Speaker 1: town right now. They're just so busy around the nation 258 00:11:47,960 --> 00:11:50,240 Speaker 1: as people dust off those bikes and they realized they 259 00:11:50,280 --> 00:11:52,079 Speaker 1: need they need a little bit of work done. But 260 00:11:52,160 --> 00:11:54,760 Speaker 1: I love seeing kind of the surgeon bike riding, even 261 00:11:54,760 --> 00:11:56,679 Speaker 1: if it has led to a lot of bike shops 262 00:11:56,720 --> 00:12:00,000 Speaker 1: being sold out of bikes completely. Uh. My coworker kid 263 00:12:00,040 --> 00:12:02,040 Speaker 1: him was looking to buy a bike right now, because 264 00:12:02,320 --> 00:12:03,439 Speaker 1: what are you gonna do with all the free time 265 00:12:03,440 --> 00:12:05,320 Speaker 1: in the beautiful weather, ride a bike, ride a bike 266 00:12:05,360 --> 00:12:08,000 Speaker 1: man and the specific model she was looking for, which 267 00:12:08,040 --> 00:12:10,079 Speaker 1: just almost impossible to find. So yeah, I think a 268 00:12:10,080 --> 00:12:11,400 Speaker 1: lot of people are going to run into that. If 269 00:12:11,400 --> 00:12:13,280 Speaker 1: they're looking to buy a bike, they might have a 270 00:12:13,280 --> 00:12:15,160 Speaker 1: harder time finding the one they want. Yeah. I know 271 00:12:15,240 --> 00:12:17,840 Speaker 1: our local bike shop, Loose Nuts. Uh, they have been 272 00:12:17,880 --> 00:12:20,120 Speaker 1: slammed with repairs. I see it pop up on their 273 00:12:20,200 --> 00:12:22,920 Speaker 1: little Instagram stories. But a lot of folks have a bike, 274 00:12:23,280 --> 00:12:25,160 Speaker 1: but they just haven't touched it in a while, right, 275 00:12:25,200 --> 00:12:26,720 Speaker 1: And so they're they're pulling it out of the basement, 276 00:12:26,720 --> 00:12:29,040 Speaker 1: out of the attic and wanting to get it back 277 00:12:29,080 --> 00:12:30,959 Speaker 1: into shape to where they can ride it. But yeah, 278 00:12:30,960 --> 00:12:32,439 Speaker 1: I agree, if if you are in the market for 279 00:12:32,480 --> 00:12:35,120 Speaker 1: a bike, you might need to be a little more patient. Uh, 280 00:12:35,160 --> 00:12:37,440 Speaker 1: and even use bikes are hard to come by right now, 281 00:12:37,520 --> 00:12:40,200 Speaker 1: But you know, you can keep scouring the internet, looking 282 00:12:40,240 --> 00:12:43,240 Speaker 1: on Facebook, market Place, asking around the neighborhood, maybe even 283 00:12:43,280 --> 00:12:45,120 Speaker 1: ask a friend if you can borrow one, at least 284 00:12:45,160 --> 00:12:47,959 Speaker 1: until bike's you know, become a little more readily available again. 285 00:12:48,320 --> 00:12:50,440 Speaker 1: Kate Man, she had an old one down on the basements, 286 00:12:50,840 --> 00:12:53,080 Speaker 1: and you know, we kind of forgot about it, but 287 00:12:53,080 --> 00:12:55,199 Speaker 1: I remember it was down there. It was her old bike. 288 00:12:55,280 --> 00:12:57,160 Speaker 1: So she doesn't write it anymore. It was sort of 289 00:12:57,200 --> 00:13:00,640 Speaker 1: like her introduction to bikes after we got married. But 290 00:13:00,640 --> 00:13:02,560 Speaker 1: we pull that thing out, I shined it up, replaced 291 00:13:02,720 --> 00:13:04,560 Speaker 1: the tubes on it, because you know, they had long 292 00:13:04,600 --> 00:13:07,480 Speaker 1: since dry rotted out and popped. But listed and sold 293 00:13:07,520 --> 00:13:09,160 Speaker 1: that man, got that bike off to a new home. 294 00:13:09,240 --> 00:13:12,720 Speaker 1: Somebody riding around in the decatur enjoying this beautiful weather. 295 00:13:12,840 --> 00:13:15,600 Speaker 1: So then I've got my old silver fixie as well, 296 00:13:15,640 --> 00:13:17,000 Speaker 1: and I might have to listen and sell that one 297 00:13:17,000 --> 00:13:18,880 Speaker 1: here pretty soon as well. Nice. Yeah, now it's the 298 00:13:18,880 --> 00:13:20,520 Speaker 1: perfect time to sell an old bike, right because the 299 00:13:20,559 --> 00:13:23,160 Speaker 1: demand is so high. Anybody who hasn't gotten nothing on 300 00:13:23,200 --> 00:13:24,920 Speaker 1: their bike yet, we'd encourage you to do it. Get 301 00:13:24,960 --> 00:13:27,920 Speaker 1: out there. It's a great activity to do during quarantine. 302 00:13:27,960 --> 00:13:30,360 Speaker 1: And while the weather is just so danky healthy, it's 303 00:13:30,360 --> 00:13:32,959 Speaker 1: good for the environment, it's good for your community, saves 304 00:13:32,960 --> 00:13:35,120 Speaker 1: you money. Like, there are so many benefits to biking. 305 00:13:35,559 --> 00:13:37,280 Speaker 1: I don't think I would recommend for folks to go 306 00:13:37,360 --> 00:13:40,319 Speaker 1: back and listen to that first episode. Essentially, that was 307 00:13:40,360 --> 00:13:42,280 Speaker 1: the gist of it. Though for all those reasons we 308 00:13:42,320 --> 00:13:44,839 Speaker 1: love it. We're still you know, average podcasters at best, 309 00:13:44,880 --> 00:13:47,600 Speaker 1: but we were really bad back then. Yeah, Matt and 310 00:13:47,679 --> 00:13:49,960 Speaker 1: just a second, we're gonna start talking about frugality and 311 00:13:50,120 --> 00:13:52,280 Speaker 1: is frugality cool again? It certainly seems like frugalities on 312 00:13:52,320 --> 00:13:54,160 Speaker 1: the comeback. But but one more thing of interest. We 313 00:13:54,200 --> 00:13:56,520 Speaker 1: talked recently about the real estate market, and there's been 314 00:13:56,520 --> 00:13:58,600 Speaker 1: a lot of questions, how is the pandemic going to 315 00:13:58,640 --> 00:14:01,640 Speaker 1: affect home sales? And here is why predicting the future 316 00:14:01,679 --> 00:14:03,640 Speaker 1: is so hard, because I think a lot of people 317 00:14:03,760 --> 00:14:06,920 Speaker 1: would have agreed that there's no way home prices are 318 00:14:06,960 --> 00:14:09,520 Speaker 1: going to go up, especially in the midst of just 319 00:14:09,800 --> 00:14:13,360 Speaker 1: rampant job losses. The most recent job lost statistics were 320 00:14:13,360 --> 00:14:16,079 Speaker 1: were terrible to see and and they just keep compounding. 321 00:14:16,360 --> 00:14:18,800 Speaker 1: It's tough to watch. And in the midst of a 322 00:14:18,800 --> 00:14:22,640 Speaker 1: worldwide pandemic and an economic pullback, how in the world 323 00:14:22,800 --> 00:14:25,680 Speaker 1: our home prices going to go up? But those smart 324 00:14:25,680 --> 00:14:28,320 Speaker 1: people would have been wrong, because the latest stats from 325 00:14:28,320 --> 00:14:31,480 Speaker 1: the National Association Realtor shows that despite the softening demand 326 00:14:31,560 --> 00:14:34,640 Speaker 1: to buy a home, far fewer homes or even making 327 00:14:34,640 --> 00:14:36,160 Speaker 1: it to the market. So a lot of people just 328 00:14:36,240 --> 00:14:39,200 Speaker 1: haven't listed their homes in this spring selling market, and 329 00:14:39,240 --> 00:14:41,520 Speaker 1: that is what's driving up prices. So even though demand 330 00:14:41,600 --> 00:14:44,320 Speaker 1: is down, supply is way way down, and so yeah, 331 00:14:44,320 --> 00:14:46,640 Speaker 1: the basic economic rules though supplying demand are on full 332 00:14:46,680 --> 00:14:48,680 Speaker 1: display in the housing market. It's just one of those 333 00:14:48,680 --> 00:14:50,480 Speaker 1: things that not many people could have predicted. There are 334 00:14:50,520 --> 00:14:53,480 Speaker 1: all these layers to what creates a robust housing market, 335 00:14:53,480 --> 00:14:55,600 Speaker 1: to what leads to the supply and demand cycles, and 336 00:14:55,640 --> 00:14:58,280 Speaker 1: it's just kind of fascinating to watch something that most 337 00:14:58,280 --> 00:15:00,320 Speaker 1: people would have predicted was going to be on the 338 00:15:00,320 --> 00:15:01,800 Speaker 1: down trend. And and and you know what, it might be 339 00:15:01,840 --> 00:15:03,920 Speaker 1: six months from now, but at least for now, home 340 00:15:03,960 --> 00:15:06,400 Speaker 1: prices are popping. Yeah. We had a listener question I 341 00:15:06,400 --> 00:15:08,200 Speaker 1: was asking about that, and and you know, he mentioned 342 00:15:08,200 --> 00:15:10,640 Speaker 1: a lot of his friends and colleagues were recommending them 343 00:15:10,680 --> 00:15:12,800 Speaker 1: and hold off like it's you know, prices are gonna 344 00:15:12,880 --> 00:15:15,400 Speaker 1: drop here in several months. And I'm not going to 345 00:15:15,480 --> 00:15:17,320 Speaker 1: claim that we can predict the future, but a lot 346 00:15:17,320 --> 00:15:19,200 Speaker 1: of times it is wise, I think, to to take 347 00:15:19,200 --> 00:15:20,920 Speaker 1: the burden the hand versus you know, two in the 348 00:15:20,960 --> 00:15:24,000 Speaker 1: bush potentially if you know that you've got something good. 349 00:15:24,040 --> 00:15:26,520 Speaker 1: And that listener in particular had a great house that 350 00:15:26,560 --> 00:15:28,360 Speaker 1: they love that they're really excited about, but they were 351 00:15:28,360 --> 00:15:29,920 Speaker 1: just kind of unsure what was going to happen with 352 00:15:30,000 --> 00:15:32,480 Speaker 1: prices in general. Well, let's go ahead and move forward 353 00:15:32,480 --> 00:15:34,200 Speaker 1: with that with that house, and that's what we had mentioned, 354 00:15:34,520 --> 00:15:37,080 Speaker 1: especially with those low interest rates. Yeah, yeah, exactly. But 355 00:15:37,560 --> 00:15:39,200 Speaker 1: you know, some things to consider though if you are 356 00:15:39,200 --> 00:15:41,520 Speaker 1: in the market to buy or sell at home. These days, 357 00:15:41,760 --> 00:15:44,680 Speaker 1: there are stricter mortgage requirements. Lenders are looking to reduce 358 00:15:44,680 --> 00:15:46,560 Speaker 1: their risk. So before maybe when you could put a 359 00:15:46,600 --> 00:15:49,600 Speaker 1: little bit less down for a down payment on that house, uh, 360 00:15:49,880 --> 00:15:52,560 Speaker 1: you might see that increase. You might see maybe more 361 00:15:52,640 --> 00:15:54,680 Speaker 1: due diligence on their part. You know, they might dig 362 00:15:54,720 --> 00:15:56,920 Speaker 1: into your your tax records a little bit more. In 363 00:15:56,920 --> 00:15:59,960 Speaker 1: particular if you own a small business or are self employed. 364 00:16:00,320 --> 00:16:03,200 Speaker 1: You know you're also going to see unaccompanied inspections a 365 00:16:03,200 --> 00:16:05,000 Speaker 1: lot of times when it comes to inspecting your house. 366 00:16:05,000 --> 00:16:06,480 Speaker 1: He can kind of go along with the inspector or 367 00:16:06,480 --> 00:16:08,680 Speaker 1: at least afterwards that they'll sit down with you go 368 00:16:08,840 --> 00:16:11,120 Speaker 1: over some of the things in the report, show things 369 00:16:11,120 --> 00:16:13,480 Speaker 1: to you in person to kind of clarify, but in 370 00:16:13,520 --> 00:16:15,440 Speaker 1: a lot of situations that that's not happening given the 371 00:16:15,800 --> 00:16:18,200 Speaker 1: social distancing measures. To make sure that you review the 372 00:16:18,240 --> 00:16:21,520 Speaker 1: report extra thoroughly and asking you questions. If you are 373 00:16:21,600 --> 00:16:24,840 Speaker 1: unclear on anything. And then maybe one sort of benefit 374 00:16:25,480 --> 00:16:27,600 Speaker 1: is that closings have have gotten a lot quieter, right 375 00:16:27,640 --> 00:16:29,640 Speaker 1: like it used to be where you'd sit down with 376 00:16:29,720 --> 00:16:31,720 Speaker 1: the sellers of the house and you're sitting there as well, 377 00:16:31,760 --> 00:16:33,720 Speaker 1: and you know you're at a law office or at 378 00:16:33,760 --> 00:16:36,560 Speaker 1: least a closing attorney's office, and you know you've got 379 00:16:36,640 --> 00:16:38,520 Speaker 1: drinks there and snacks if you if you want that 380 00:16:38,560 --> 00:16:41,640 Speaker 1: as well. But that's not really going down like that anymore, Joe, 381 00:16:41,720 --> 00:16:44,680 Speaker 1: you recently refinanced and uh, and you mentioned how they 382 00:16:44,800 --> 00:16:46,640 Speaker 1: just brought it to you on a clipboard in your 383 00:16:46,720 --> 00:16:50,200 Speaker 1: cart through my car window, which is just bizarre. But 384 00:16:50,200 --> 00:16:52,640 Speaker 1: that's where things are right now. Uh, and so it 385 00:16:52,680 --> 00:16:54,680 Speaker 1: depends on your personality. But I kind of see that 386 00:16:54,720 --> 00:16:57,800 Speaker 1: as as a plus. A lot of the signatures are 387 00:16:57,840 --> 00:17:00,080 Speaker 1: taking place digitally to where you can knock some of 388 00:17:00,160 --> 00:17:02,240 Speaker 1: that out ahead of time. And uh, and yeah, just 389 00:17:02,400 --> 00:17:05,320 Speaker 1: limited amount of time in person where you are sunning 390 00:17:05,359 --> 00:17:07,160 Speaker 1: those papers. But yeah, just a few things for folks 391 00:17:07,200 --> 00:17:09,399 Speaker 1: to consider if you are looking at buying a house 392 00:17:09,440 --> 00:17:11,040 Speaker 1: to spring. All right, Matt, We've got a couple more 393 00:17:11,080 --> 00:17:13,440 Speaker 1: interesting things to get to that happened this week and 394 00:17:13,440 --> 00:17:16,120 Speaker 1: in particularly we're gonna talk about frugality. It's cool again, 395 00:17:16,440 --> 00:17:19,080 Speaker 1: like fanny packs and jeans with holes in on my thing, 396 00:17:19,240 --> 00:17:22,359 Speaker 1: and choker chains, you know, necklaces and friendship bracelets. Now 397 00:17:22,400 --> 00:17:24,760 Speaker 1: we're getting into territory. We know nothing about mood rings. 398 00:17:24,920 --> 00:17:26,919 Speaker 1: Oh man, these things are these are hot back in 399 00:17:26,920 --> 00:17:29,240 Speaker 1: our day, and our kids are on the rise again. Yeah, 400 00:17:29,280 --> 00:17:31,919 Speaker 1: they're asking about them even in first grade. Okay, all right, 401 00:17:31,960 --> 00:17:34,359 Speaker 1: well crazy, we'll get to that stuff right after the break. 402 00:17:43,600 --> 00:17:45,080 Speaker 1: It's all right, Matt, we're back from the break. I 403 00:17:45,119 --> 00:17:46,920 Speaker 1: love these Friday episodes. We get to cover a lot 404 00:17:46,960 --> 00:17:49,320 Speaker 1: of things that happened this week. And and one of 405 00:17:49,320 --> 00:17:52,520 Speaker 1: the things I've been reading about is how frugality it's 406 00:17:52,640 --> 00:17:55,200 Speaker 1: on the rise, like mood rings and ripped jeans apparently, 407 00:17:55,560 --> 00:17:57,600 Speaker 1: which I didn't know about, so thanks for informing me. 408 00:17:57,920 --> 00:18:01,159 Speaker 1: But people certainly seem to be more attention to the 409 00:18:01,160 --> 00:18:03,920 Speaker 1: little things that they might have glossed over previously in 410 00:18:03,960 --> 00:18:06,520 Speaker 1: their budget they just didn't pay attention to. And with 411 00:18:06,600 --> 00:18:09,800 Speaker 1: these cost cutting measures comes more savings, and the Bureau 412 00:18:09,840 --> 00:18:13,359 Speaker 1: of Economic Analysis says that people are saving just overtent 413 00:18:13,440 --> 00:18:16,280 Speaker 1: of their income right now, which for people in the 414 00:18:16,320 --> 00:18:18,120 Speaker 1: United States, of America. That's that's a pretty high rate. 415 00:18:18,200 --> 00:18:20,879 Speaker 1: We're really high. Yeah. I mean there's some other countries 416 00:18:20,920 --> 00:18:23,200 Speaker 1: we've talked about this before that save close to fifty 417 00:18:23,240 --> 00:18:25,280 Speaker 1: percent of their income. I love seeing that. I don't 418 00:18:25,320 --> 00:18:26,800 Speaker 1: think we're ever going to get there in this country, 419 00:18:26,800 --> 00:18:28,760 Speaker 1: but but seeing our savings rate pump up a good 420 00:18:28,760 --> 00:18:31,719 Speaker 1: bit from the norm of what six or seven percent 421 00:18:32,080 --> 00:18:34,359 Speaker 1: is great. It's amazing kind of what we can do 422 00:18:34,440 --> 00:18:36,879 Speaker 1: when we're forced to do it. Right, when the bars 423 00:18:36,880 --> 00:18:39,359 Speaker 1: and restaurants are closed, we're we're gonna be forced to 424 00:18:39,400 --> 00:18:40,880 Speaker 1: save more of our money. And I'm glad that people 425 00:18:40,880 --> 00:18:43,399 Speaker 1: are finding some fortitude to be able to not just 426 00:18:43,520 --> 00:18:45,879 Speaker 1: rack up more spending in other areas, but they're saving 427 00:18:45,920 --> 00:18:48,159 Speaker 1: some of that money for a rainy day, for the future. 428 00:18:48,440 --> 00:18:49,960 Speaker 1: And when the economy is in a tough spot, we 429 00:18:50,040 --> 00:18:52,760 Speaker 1: make harder choices that we just wouldn't have made otherwise. 430 00:18:52,800 --> 00:18:55,119 Speaker 1: So yeah, it's good to see frugality back up on 431 00:18:55,160 --> 00:18:57,119 Speaker 1: the rise. Yeah. And you know, if you are a 432 00:18:57,160 --> 00:18:59,200 Speaker 1: new how to money the listener, and maybe you're realizing 433 00:18:59,359 --> 00:19:03,160 Speaker 1: just how sneaking awesome frugality can be. You can take 434 00:19:03,280 --> 00:19:05,960 Speaker 1: small steps in order to kind of make these incremental 435 00:19:06,040 --> 00:19:08,359 Speaker 1: changes in your life to kind of start going down 436 00:19:08,400 --> 00:19:11,520 Speaker 1: that path of frugality. Before. We've talked about how you 437 00:19:11,520 --> 00:19:13,800 Speaker 1: can cut recurring expenses, and one of the ways you 438 00:19:13,800 --> 00:19:17,359 Speaker 1: can do that is by looking at these expenses that 439 00:19:17,400 --> 00:19:19,800 Speaker 1: you have on a on a recurring basis, these subscriptions 440 00:19:19,800 --> 00:19:22,520 Speaker 1: that you have. Uh, we recently came across an article 441 00:19:22,560 --> 00:19:24,359 Speaker 1: that was talking about how you can pause your your 442 00:19:24,400 --> 00:19:28,520 Speaker 1: Prime membership. Amazon understandably is experiencing some shipping delays, right, 443 00:19:28,720 --> 00:19:31,280 Speaker 1: but that doesn't mean that you aren't entitled to part 444 00:19:31,320 --> 00:19:34,879 Speaker 1: of that Prime membership or refunded to you to prevent cancelations. Amazon, 445 00:19:34,920 --> 00:19:38,440 Speaker 1: they are being pretty generous with refunding a portion of 446 00:19:38,520 --> 00:19:40,600 Speaker 1: your membership, So reach out to them. It's being reported 447 00:19:40,600 --> 00:19:42,440 Speaker 1: that they might refund even up to six months worth 448 00:19:42,480 --> 00:19:44,080 Speaker 1: to you. I think I saw on the Facebook group 449 00:19:44,200 --> 00:19:46,520 Speaker 1: one of our listeners mentioned that to everybody else to 450 00:19:46,680 --> 00:19:49,000 Speaker 1: a I just reached out to Amazon, I think six 451 00:19:49,080 --> 00:19:50,960 Speaker 1: or eight months refunded to them. What's so good? So 452 00:19:50,960 --> 00:19:54,000 Speaker 1: it's actually happening, we have a listener experience. Yeah, especially 453 00:19:54,040 --> 00:19:56,159 Speaker 1: if you're not taking advantage of the additional services that 454 00:19:56,240 --> 00:19:58,840 Speaker 1: come with Amazon Prime. Right, if you if you're not 455 00:19:58,880 --> 00:20:00,960 Speaker 1: really into the video thing. You're not, you know, into 456 00:20:01,160 --> 00:20:02,960 Speaker 1: into music, but you're just doing it primarily for the 457 00:20:02,960 --> 00:20:05,119 Speaker 1: shipping and that's not something that they're able to deliver 458 00:20:05,200 --> 00:20:07,600 Speaker 1: on like literally, Well, then this is a step that 459 00:20:07,640 --> 00:20:09,640 Speaker 1: you can take to kind of begin down that path 460 00:20:09,640 --> 00:20:11,879 Speaker 1: of frugality. This is a great time to ask yourself 461 00:20:11,880 --> 00:20:14,199 Speaker 1: whether or not services like Prime even makes sense for 462 00:20:14,200 --> 00:20:16,040 Speaker 1: you at all. And you know, Joel, we've got even 463 00:20:16,080 --> 00:20:19,159 Speaker 1: more tips that you should check out. In episode that 464 00:20:19,240 --> 00:20:22,520 Speaker 1: was cutting expenses in a time of financial distress, We 465 00:20:22,520 --> 00:20:25,520 Speaker 1: would highly recommend folks to to give that episode to listen. Yeah, 466 00:20:25,560 --> 00:20:27,760 Speaker 1: now that frugality is cool again. You want to figure 467 00:20:27,760 --> 00:20:29,359 Speaker 1: out how to be the coolest person on the black, 468 00:20:29,560 --> 00:20:32,200 Speaker 1: then listen to that episode for sure. And my biggest 469 00:20:32,280 --> 00:20:35,760 Speaker 1: question I think Matt two is will frugality stick, Like, 470 00:20:35,840 --> 00:20:38,320 Speaker 1: will this newfound desire to keep more money in our 471 00:20:38,359 --> 00:20:41,600 Speaker 1: savings accounts to to spend less money on things that 472 00:20:41,640 --> 00:20:43,919 Speaker 1: we don't need? Is that gonna stick? And there are 473 00:20:43,920 --> 00:20:47,080 Speaker 1: a lot of predictions right now about the kind of 474 00:20:47,160 --> 00:20:49,960 Speaker 1: changes that are going to happen in our society and 475 00:20:50,000 --> 00:20:52,840 Speaker 1: how long lasting that they're gonna be. And we're gonna 476 00:20:52,840 --> 00:20:54,240 Speaker 1: talk about that a little bit more in a second 477 00:20:54,240 --> 00:20:57,800 Speaker 1: about industry changes. But I'm not so sure that frugality 478 00:20:58,040 --> 00:21:00,920 Speaker 1: is going to last as long is I would hope 479 00:21:00,920 --> 00:21:03,239 Speaker 1: it would after the Great Recession just a little more 480 00:21:03,280 --> 00:21:06,639 Speaker 1: than ten years ago. Frugality was really cool then too, 481 00:21:06,920 --> 00:21:09,720 Speaker 1: but it never really seemed to stick around. And you 482 00:21:09,760 --> 00:21:12,080 Speaker 1: hear so many stories right of how the frugal mindset 483 00:21:12,119 --> 00:21:15,520 Speaker 1: never really left our grandparents generation. After the Great Depression, 484 00:21:15,520 --> 00:21:17,479 Speaker 1: there was something just etched in people's minds, and so 485 00:21:17,520 --> 00:21:20,320 Speaker 1: frugality almost became a way of life. And I just 486 00:21:20,359 --> 00:21:23,359 Speaker 1: didn't see that happen after the Great Recession. It didn't 487 00:21:23,359 --> 00:21:25,440 Speaker 1: stick in the same way. So while I'm optimistic and 488 00:21:25,480 --> 00:21:28,840 Speaker 1: I'm hopeful that even a terribly negative event like COVID 489 00:21:28,880 --> 00:21:32,560 Speaker 1: can can have some positive outcomes like increased frugality for 490 00:21:32,600 --> 00:21:34,760 Speaker 1: all of us, I'm just not so sure that we're 491 00:21:34,760 --> 00:21:37,680 Speaker 1: going to see sustained frugal choices and higher savings rates 492 00:21:38,000 --> 00:21:40,320 Speaker 1: years and years down the road. That's my hope, that's 493 00:21:40,359 --> 00:21:42,120 Speaker 1: what I want, but I'm just not quite sure that 494 00:21:42,119 --> 00:21:44,919 Speaker 1: that's going to be reality. Yeah, Unfortunately, I agree with you. 495 00:21:45,880 --> 00:21:48,399 Speaker 1: Like the thing is with frugality is that it can 496 00:21:48,440 --> 00:21:52,400 Speaker 1: either be intrinsic or extrinsic. Right, those who are intrinsic 497 00:21:52,440 --> 00:21:55,480 Speaker 1: frugals are are pretty motivated, and you know, they also 498 00:21:55,520 --> 00:21:58,560 Speaker 1: have the self discipline to spend less and to save 499 00:21:58,640 --> 00:22:00,960 Speaker 1: more um. And the thing is, here's what's key, is 500 00:22:01,000 --> 00:22:03,040 Speaker 1: that they choose to do that. But what you know, 501 00:22:03,080 --> 00:22:05,879 Speaker 1: what we'll call extrinsic frugals, they don't have a choice. 502 00:22:05,960 --> 00:22:08,560 Speaker 1: And you know, they are forced into being frugal based 503 00:22:08,600 --> 00:22:11,800 Speaker 1: on their external circumstances. You know, right now, that's the 504 00:22:11,840 --> 00:22:14,119 Speaker 1: pandemic that's not being able to work. A lot of 505 00:22:14,200 --> 00:22:17,399 Speaker 1: individual's income is drying up. Like that is a serious 506 00:22:17,440 --> 00:22:20,399 Speaker 1: external circumstance. Right. So you know what's interesting to me 507 00:22:20,480 --> 00:22:22,840 Speaker 1: here is if there is a length of time that 508 00:22:22,960 --> 00:22:26,960 Speaker 1: being uh an extrinsic frugal will lead to someone sort 509 00:22:27,000 --> 00:22:30,080 Speaker 1: of adopting these values and internalizing it themselves. Right, because 510 00:22:30,119 --> 00:22:32,440 Speaker 1: at a certain point, like when you do something long enough, 511 00:22:32,960 --> 00:22:35,520 Speaker 1: it becomes your own behavior. It's something that you sort 512 00:22:35,520 --> 00:22:37,760 Speaker 1: of adopt and it becomes a part of who you are, 513 00:22:37,960 --> 00:22:40,680 Speaker 1: like never leaving the house, yeah exactly, And so hopefully 514 00:22:40,720 --> 00:22:42,800 Speaker 1: that will be something that is as part of who 515 00:22:42,800 --> 00:22:44,520 Speaker 1: we are. But you know, like when it comes to 516 00:22:45,160 --> 00:22:48,879 Speaker 1: reusing things or you know, eating maybe some leftovers that 517 00:22:48,920 --> 00:22:51,440 Speaker 1: you would normally just toss out because now you're maybe 518 00:22:51,480 --> 00:22:54,240 Speaker 1: realizing that, like, oh man, maybe that should be another 519 00:22:54,280 --> 00:22:57,200 Speaker 1: meal instead of just tossing it. It's literally throwing dollar 520 00:22:57,240 --> 00:22:59,840 Speaker 1: bills in the trash game, yes, exactly. And so to me, 521 00:23:00,000 --> 00:23:02,119 Speaker 1: that's the most fascinating part of this is that there 522 00:23:02,160 --> 00:23:05,400 Speaker 1: are individuals who are naturally frugal themselves, but then there 523 00:23:05,400 --> 00:23:08,600 Speaker 1: are folks who are being forced into this frugality box 524 00:23:08,920 --> 00:23:11,160 Speaker 1: and some of them hate it and they can't wait 525 00:23:11,200 --> 00:23:13,520 Speaker 1: to get back to their lavish, high spending lifestyle, right. 526 00:23:13,880 --> 00:23:15,760 Speaker 1: But for a lot of folks, hopefully they can realize 527 00:23:15,800 --> 00:23:18,040 Speaker 1: and kind of connect on on a deeper level the 528 00:23:18,080 --> 00:23:21,440 Speaker 1: efficiency and how it's better for the environments, and how 529 00:23:21,520 --> 00:23:24,080 Speaker 1: just spending in general, it's it's not something that maybe 530 00:23:24,200 --> 00:23:26,040 Speaker 1: is bringing them happiness. You know. That could be another 531 00:23:26,080 --> 00:23:28,400 Speaker 1: side effect is that they are are spending less because 532 00:23:28,400 --> 00:23:31,600 Speaker 1: they're being forced to spend less, and they're realizing that, Wow, 533 00:23:32,040 --> 00:23:33,840 Speaker 1: I'm just as happy as I used to be, or 534 00:23:33,920 --> 00:23:36,200 Speaker 1: maybe I'm even happier than I used to be, which 535 00:23:36,240 --> 00:23:39,120 Speaker 1: is crazy to think, but you know, given the health crisis, 536 00:23:39,119 --> 00:23:41,400 Speaker 1: what's interesting as well is that I think these external 537 00:23:41,440 --> 00:23:44,320 Speaker 1: factors that are forcing us to be frugal might stick around, 538 00:23:44,640 --> 00:23:46,440 Speaker 1: you know, for years, like years after we have a 539 00:23:46,520 --> 00:23:49,560 Speaker 1: vaccine developed, and so it'll be interesting to see, you know, 540 00:23:49,640 --> 00:23:52,520 Speaker 1: within that time period, how many folks naturally become more 541 00:23:52,560 --> 00:23:55,600 Speaker 1: frugal themselves and jump on that. How the money bandwagon 542 00:23:55,760 --> 00:23:57,920 Speaker 1: riding their bikes to the store only you know, getting 543 00:23:57,960 --> 00:24:00,879 Speaker 1: the bare necessities, that kind of stuff. Yeah, I'd love 544 00:24:00,920 --> 00:24:03,520 Speaker 1: to see that happened. Matt. Speaking of things that are 545 00:24:03,600 --> 00:24:05,399 Speaker 1: going to stick or aren't going to stick, I think 546 00:24:05,440 --> 00:24:08,200 Speaker 1: we're gonna see some industry changes. And there's something that's 547 00:24:08,240 --> 00:24:09,880 Speaker 1: kind of been buzzed about the past week or two, 548 00:24:10,080 --> 00:24:12,439 Speaker 1: and that was the new Trolls movie apparently made a 549 00:24:12,480 --> 00:24:16,000 Speaker 1: hundred million dollars in just three weeks of streaming. I 550 00:24:16,000 --> 00:24:17,920 Speaker 1: think they made more like in those first three weeks 551 00:24:18,000 --> 00:24:20,160 Speaker 1: than like the first movie did in like the first 552 00:24:20,200 --> 00:24:22,439 Speaker 1: three months in the movie theater, exacthing like that. I mean, 553 00:24:22,440 --> 00:24:25,200 Speaker 1: I've watched it twenty four times, but um, have you 554 00:24:25,240 --> 00:24:27,200 Speaker 1: really did you have to jumpt know we haven't seen it. Oh, yeah, 555 00:24:27,200 --> 00:24:28,879 Speaker 1: we don't. We don't fall prey to that marketing. I'm 556 00:24:28,880 --> 00:24:30,399 Speaker 1: gonna popped up on the TV and the girls were 557 00:24:30,440 --> 00:24:32,919 Speaker 1: like like, no, no, no no, We're not doing that girl's 558 00:24:32,920 --> 00:24:35,440 Speaker 1: twenty bucks for forty eight hours of a movie. I mean, 559 00:24:35,520 --> 00:24:37,800 Speaker 1: that's just not my jam because I'm a frugal dude. 560 00:24:37,800 --> 00:24:40,639 Speaker 1: But split seas is that frugal or cheap? That's a 561 00:24:40,640 --> 00:24:44,520 Speaker 1: good question, legal, I don't know, I'm not sure, but yeah, 562 00:24:44,600 --> 00:24:47,560 Speaker 1: do we see this trend continuing? Do we see people 563 00:24:48,119 --> 00:24:51,879 Speaker 1: forsaking movie theaters and starting to to watch premium movies 564 00:24:51,920 --> 00:24:54,119 Speaker 1: that are at least directly to your home and paying 565 00:24:54,119 --> 00:24:56,320 Speaker 1: extra money to do so. And that's a good question. 566 00:24:56,359 --> 00:24:58,400 Speaker 1: I'm not sure what the answer is, but I think 567 00:24:58,640 --> 00:25:00,600 Speaker 1: if I were AMC in Regal and in some of 568 00:25:00,600 --> 00:25:03,200 Speaker 1: the big movie theater chains, I'd be pretty nervous. Right now, 569 00:25:03,440 --> 00:25:07,000 Speaker 1: with massive four K televisions in a lot of living 570 00:25:07,040 --> 00:25:09,280 Speaker 1: rooms around the country and streaming kind of being the 571 00:25:09,320 --> 00:25:11,840 Speaker 1: norm the way we're used to accessing what we watch, 572 00:25:12,359 --> 00:25:15,160 Speaker 1: and also with with the heightened nervousness of public spaces, 573 00:25:15,440 --> 00:25:18,000 Speaker 1: will people change their viewing habits enough to kill off 574 00:25:18,080 --> 00:25:20,560 Speaker 1: the movie theater industry. I'm not willing to make a 575 00:25:20,600 --> 00:25:22,040 Speaker 1: call like that, but again, I'd be nervous if I 576 00:25:22,080 --> 00:25:24,560 Speaker 1: were them, because people certainly don't seem to be reticent 577 00:25:24,800 --> 00:25:26,639 Speaker 1: to drop twenty bucks to watch that movie. Because when 578 00:25:26,680 --> 00:25:28,399 Speaker 1: you think about it, how much does it ticket to 579 00:25:28,440 --> 00:25:32,160 Speaker 1: a movie theater costeen bucks a person? So if you're 580 00:25:32,160 --> 00:25:34,359 Speaker 1: taking just two or three people to go see that movie, 581 00:25:34,680 --> 00:25:36,520 Speaker 1: it's way cheaper to watch it on your couch at home, 582 00:25:36,680 --> 00:25:39,800 Speaker 1: not to mention the popcorn of the sodas that people buy, 583 00:25:39,960 --> 00:25:41,959 Speaker 1: that's true. Yeah, And with the price of four k, 584 00:25:42,160 --> 00:25:45,560 Speaker 1: you know, like high death quality TVs with their prices 585 00:25:45,640 --> 00:25:48,520 Speaker 1: just drastically coming down, a lot of folks are you know, 586 00:25:48,560 --> 00:25:51,000 Speaker 1: able to get a lot of their viewing pleasure done 587 00:25:51,040 --> 00:25:53,560 Speaker 1: at home? And so you know what other industries might 588 00:25:53,600 --> 00:25:56,400 Speaker 1: be making substantial business model changes, you know, like we've 589 00:25:56,440 --> 00:25:59,359 Speaker 1: obviously seen a change of sports and music events. Will 590 00:25:59,440 --> 00:26:01,920 Speaker 1: those actually go back to normal anytime soon? I think 591 00:26:01,920 --> 00:26:04,040 Speaker 1: we have a lot more questions than we do answers 592 00:26:04,040 --> 00:26:06,119 Speaker 1: on this, at least for now. But what we do 593 00:26:06,200 --> 00:26:09,119 Speaker 1: know is that the profound shifts are happening in the 594 00:26:09,160 --> 00:26:11,680 Speaker 1: way that businesses are having to think about their present 595 00:26:11,720 --> 00:26:14,800 Speaker 1: in the future as well as us as individuals. Right 596 00:26:15,000 --> 00:26:17,359 Speaker 1: how we're going to handle our money, uh, the different 597 00:26:17,359 --> 00:26:19,560 Speaker 1: things that we're going to pursue. How are our careers 598 00:26:19,560 --> 00:26:21,840 Speaker 1: are changing soon? We have to talk about that, you know, 599 00:26:21,880 --> 00:26:25,080 Speaker 1: the implications and the effects on our careers given the 600 00:26:25,080 --> 00:26:28,680 Speaker 1: the the widespread effect of the pandemic on our economy. Yeah, 601 00:26:28,720 --> 00:26:30,840 Speaker 1: for sure, that's the topic we definitely need to hit on. 602 00:26:31,240 --> 00:26:32,560 Speaker 1: And that One last thing I think we need to 603 00:26:32,560 --> 00:26:34,200 Speaker 1: bring up on the show is kind of the way 604 00:26:34,200 --> 00:26:36,600 Speaker 1: businesses are handling safety. At the beginning of the show, 605 00:26:36,640 --> 00:26:38,960 Speaker 1: we talked about how we're seeing a lower level of 606 00:26:39,000 --> 00:26:41,639 Speaker 1: infection rates in Georgia, and part of that is how 607 00:26:41,760 --> 00:26:44,399 Speaker 1: businesses are handling things. They seem to be doing a 608 00:26:44,400 --> 00:26:47,320 Speaker 1: pretty good job as they're reopening, and some companies that 609 00:26:47,359 --> 00:26:50,840 Speaker 1: have been operating continuously uh during this pandemic because they 610 00:26:50,840 --> 00:26:54,040 Speaker 1: are necessary businesses. A business like Costco has now said 611 00:26:54,080 --> 00:26:56,960 Speaker 1: they're requiring all shoppers to wear masks when you go 612 00:26:57,000 --> 00:26:59,480 Speaker 1: to the store, and almost all the major airlines are 613 00:26:59,480 --> 00:27:03,040 Speaker 1: instituting mass wearing policies. Uber just announced they're requiring all 614 00:27:03,119 --> 00:27:06,040 Speaker 1: drivers and writers to wear masks to use the service. 615 00:27:06,280 --> 00:27:08,800 Speaker 1: And I think private business is making these calls trying 616 00:27:08,800 --> 00:27:11,520 Speaker 1: to keep not only their employees but also their customers safe. 617 00:27:11,760 --> 00:27:13,480 Speaker 1: That's a great way to go about doing this. And 618 00:27:13,560 --> 00:27:15,679 Speaker 1: I know I'm gonna feel more comfortable shopping in a 619 00:27:15,720 --> 00:27:18,080 Speaker 1: store that has a policy like this, that is trying 620 00:27:18,080 --> 00:27:20,880 Speaker 1: to look out for everyone. And although I know other 621 00:27:20,880 --> 00:27:23,119 Speaker 1: people feel a little differently. Yeah, there's actually been some 622 00:27:23,119 --> 00:27:25,520 Speaker 1: backlash against companies, you know, moving in this direction, but 623 00:27:25,680 --> 00:27:27,760 Speaker 1: it really does seem like a smart and necessary move 624 00:27:27,880 --> 00:27:30,840 Speaker 1: to me. And so we talk about personal finance every week, Jill, 625 00:27:31,080 --> 00:27:32,720 Speaker 1: and so much of this I think does come down 626 00:27:32,720 --> 00:27:35,240 Speaker 1: to us as individuals. Right, If we're not willing to 627 00:27:35,280 --> 00:27:38,920 Speaker 1: support these different businesses who are are not taking these 628 00:27:38,960 --> 00:27:42,280 Speaker 1: safety measures, well, you know, our dollars collectively have a 629 00:27:42,400 --> 00:27:45,080 Speaker 1: large impact, and we're gonna see businesses, you know, being 630 00:27:45,080 --> 00:27:47,480 Speaker 1: forced to respond to that. It's great to see businesses 631 00:27:47,760 --> 00:27:50,800 Speaker 1: standing in the gap and creating a sense of security 632 00:27:50,960 --> 00:27:53,440 Speaker 1: and safety for their customers when no one else is 633 00:27:53,480 --> 00:27:57,000 Speaker 1: gonna require it. And so, yeah, I appreciate businesses like Costco, 634 00:27:57,080 --> 00:28:00,760 Speaker 1: the airline's Uber. Obviously it's a necessity basically to have 635 00:28:00,880 --> 00:28:03,880 Speaker 1: those businesses running smoothly. And the only way that's gonna 636 00:28:03,880 --> 00:28:06,600 Speaker 1: happen is if we all feel safe using those services. 637 00:28:06,880 --> 00:28:08,240 Speaker 1: So all right, Matt, that's going to do it for 638 00:28:08,280 --> 00:28:11,280 Speaker 1: this episode. As always, we have all of our episodes 639 00:28:11,320 --> 00:28:13,960 Speaker 1: and some articles on our website at how to money 640 00:28:14,040 --> 00:28:16,440 Speaker 1: dot com. And thank you for being a listener and 641 00:28:16,480 --> 00:28:18,439 Speaker 1: a subscriber to our show. If you haven't already, make 642 00:28:18,480 --> 00:28:20,600 Speaker 1: sure to leave us a review. So, Joel, that's gonna 643 00:28:20,640 --> 00:28:23,720 Speaker 1: be it man. Until next time, Best Friends Out, Best 644 00:28:23,800 --> 00:28:24,520 Speaker 1: Friends Out.