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Speaker 1: Welcome to How the Money. I'm Joel, I'm Matt, and

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Speaker 1: today we're discussing dumpster diving, the housing hellscape, and tech

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Speaker 1: company transgressions. That's right, buddy, this is our Friday flight,

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Speaker 1: and we are going to talk about the best stories

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Speaker 1: that we came across this week before we get to that.

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Speaker 1: Today is a big day, dude. This is our episode.

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Speaker 1: As you will know, that's a lot of welcome to

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Speaker 1: How Do a lot of a lot of I'm mats

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Speaker 1: as well, but really perfective the art. I am Matt.

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Speaker 1: We've got those intros down. Actually, folks would be surprised

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Speaker 1: at how sometimes we do re record the entry us

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Speaker 1: hit record and sometimes we'll start recording an episode before

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Speaker 1: we're like completely settled. Still get my drink, clear my throat,

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Speaker 1: that kind of thing. But seriously, we we really do

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Speaker 1: appreciate all of you wonderful listeners out there. You know,

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Speaker 1: we've actually been at this now for nearly five years,

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Speaker 1: but they were two weeks shy of our fifth years,

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Speaker 1: so we wanted to celebrate this milestone episode though, this

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Speaker 1: six episode, and to do that, we're going to give

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Speaker 1: away a total of six hundred dollars to six different

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Speaker 1: listeners right out of Maths pocket and I'm keeping my

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Speaker 1: money and Joel's on top for the next giveaway. Uh.

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Speaker 1: And so all that you have to do to be

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Speaker 1: entered to win is to just make sure that you

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Speaker 1: are subscribed to our free weekly newsletter. You can just

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Speaker 1: head over to the site where you can subscribe. You

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Speaker 1: can either they're on the home page towards the bottom

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Speaker 1: there's a spot where you can enter in your email

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Speaker 1: or just go to how the Money dot com forward

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Speaker 1: slash newsletter. Either one of those spots will work. Uh,

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Speaker 1: fill in your information, your name, and your email and

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Speaker 1: you will be set. So yeah, just just make sure

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Speaker 1: to do that before Monday this next Monday at midnight

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Speaker 1: in order to be entered to win one of those

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Speaker 1: six prizes. And yeah, that's all there is to it.

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Speaker 1: We will announce the winners on next Friday's episode and

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Speaker 1: we'll be reaching on the folks getting your Venmo, your

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Speaker 1: cash app handle. But literally, it's it's gonna be that simple.

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Speaker 1: We're gonna center Bucks in your in your hands, Bucks

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Speaker 1: over to you. Yeah, absolutely so, well, we can't we

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Speaker 1: look forward to giving money away. I think last year

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Speaker 1: we did a giveaway man of our own money, and

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Speaker 1: we were asked listeners to give that money away in

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Speaker 1: their communities and they reported back. You called it the giveaway, giveaway, giveaway,

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Speaker 1: give away, which is super fun. This year, We're like, no,

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Speaker 1: we're gonna put money in your hand because I don't know.

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Speaker 1: Maybe you've got some debt to pay off. Maybe you've

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Speaker 1: got a credit card bill you haven't been able to

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Speaker 1: get under control. Maybe you just need a little cash

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Speaker 1: in your hand to to not go into debt in

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Speaker 1: order to pay for some of those holiday gifts that

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Speaker 1: you want to buy. And we want to help you

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Speaker 1: out with that. So I gotta do is be subscribe

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Speaker 1: to the newsletter and like you said, Monday at midnight

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Speaker 1: is the deadline. Yeah. And by the way, this is uh.

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Speaker 1: This is a giveaway that's available to old and new subscribers.

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Speaker 1: So obviously, if you have not subscribed yet, make sure

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Speaker 1: to do that. But if you have been a faithful

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Speaker 1: subscriber for six months, if you've been with us for

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Speaker 1: a minute, here already entered. You are automatically entered to.

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Speaker 1: But tell your mom, tell your grandma so they they

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Speaker 1: can get entered into. But I want to mention one

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Speaker 1: more thing. Mat before you get the Friday flight. I'm

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Speaker 1: not sure how you feel about Christmas decorations. We got ourselves.

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Speaker 1: We started going early, like November fift inside, at least

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Speaker 1: we did. We did too actually, just like I was

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Speaker 1: like ready for some some of that Christmas joy. I

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Speaker 1: wonder why that is my wife in particular, was ready

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Speaker 1: for him. But one of so one of the things

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Speaker 1: that we couldn't do until recently though, because the live

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Speaker 1: Christmas trees had not started hitting like the home depots

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Speaker 1: and the lows yet, was we couldn't go get the

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Speaker 1: free trimmings like they have to get to cut off

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Speaker 1: the bottoms of the trees, and there's all these sorts

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Speaker 1: of little cut off the bottom three branches, threw saplings

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Speaker 1: hanging around half inch off the bottom that fresh cut.

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Speaker 1: But we did, like Emily was just like, okay, this Saturday, No,

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Speaker 1: there's there's gonna be something this Saturday, right, And so

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Speaker 1: we've gotten Now this past weekend we went. We got

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Speaker 1: a bunch of free trimmings to put up across our mantle.

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Speaker 1: They make for some great decorations. So just a little

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Speaker 1: tipped everybody. It also makes your house smell nice. Yeah,

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Speaker 1: for for all those folks out there who you get

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Speaker 1: the Christmas tree smell without having to pay that fresh

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Speaker 1: Chris Christmas tree price. Right, Yeah, you don't have to

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Speaker 1: buy the pine saw. I'll get the real stuff. Yeah, exactly. Which, So,

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Speaker 1: by the way, did I tell you what we did

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Speaker 1: with our Christmas tree. I know we've talked about buying

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Speaker 1: artificial trees in the past, and there's like a break

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Speaker 1: break even point for us. It was like literally the

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Speaker 1: second by the second year, because we got it on

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Speaker 1: sane um. But we'd gotten I guess it was maybe

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Speaker 1: a nine ft tree at our old house because we

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Speaker 1: had ten foot ceilings over there and our new place,

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Speaker 1: our ceilings are only eight feet tall, and so we're

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Speaker 1: just like, oh, dang it, like what are we gonna do?

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Speaker 1: And well, you know what all we had to do

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Speaker 1: was not use the bottom section of the Christmas tree there,

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Speaker 1: so it comes in four sections in your brain. Yeah,

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Speaker 1: so we we took that nine foot tree down from

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Speaker 1: nine ft to seven ft. It fits perfectly in the

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Speaker 1: new place. So keep that in mind. If folks out

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Speaker 1: there happened to be in the weird circumstance like we were,

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Speaker 1: and your ceilings are getting lower you don't have to

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Speaker 1: necessarily buy a brain new tree. Yeah all right, I

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Speaker 1: like that. Good Another good money saving tips Christmas tree tips? Right? Well,

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Speaker 1: why not? I mean this is the season, Like I

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Speaker 1: have a feeling a lot of decorating is going to

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Speaker 1: take places coming weekend. I read that December one is

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Speaker 1: the day that most uh neighbors say, Okay, it's fine

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Speaker 1: to put up your Christmas lights. Now we would have

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Speaker 1: done it sooner. We've been out of town for Thanksgiving

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Speaker 1: and stuff like that. But we're definitely putting up our

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Speaker 1: outdoor lights this weekend. So we're excited about that. But

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Speaker 1: let's move on, Mat, Let's get to the stories we

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Speaker 1: found interesting this week. It is our Friday flight flight

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Speaker 1: and speaking of curbing consumption, well begin of capitalism. Jeff Bezos,

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Speaker 1: the former CEO and and the guy who started Amazon.

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Speaker 1: He recently told CNN that Americans should consider postponing the

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Speaker 1: purchase of bigger ticket items in their lives. It's kind

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Speaker 1: of surprised to hear him say that, because his company

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Speaker 1: thrives on people not postponing purchases, just going ahead and

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Speaker 1: pulling the trigger. Anyway, Maybe now that he's uh no

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Speaker 1: longer holds the title of CEO, he feels a little

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Speaker 1: bit of freedom to more honest, be truthful, be honest

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Speaker 1: for folks. When being interviewed from his one of his

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Speaker 1: massive yachts, this is what he said, But it turns

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Speaker 1: out the folks didn't really listen to him. At least

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Speaker 1: this past Black Friday. A record nine billion dollars was

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Speaker 1: spent over that Thanksgiving holiday. But while there are certainly

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Speaker 1: deals to be had, as retailers have had too much inventory,

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Speaker 1: they've had to discount more. This is an instance where

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Speaker 1: this advice from the former CEO of Amazon actually makes

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Speaker 1: some sense, right, terrible advice. Yeah, with with an uncertain

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Speaker 1: economy ahead of us, we should all keep an eye

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Speaker 1: on our spending this holiday season. I'd rather see folks take, like,

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Speaker 1: you know, a year end bonus to the bank, then

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Speaker 1: to the store, and to just be be prepared. Like

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Speaker 1: we talked about on Wednesday, financial flexibility is important. The

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Speaker 1: more of it that you can retain, the more solid

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Speaker 1: financial footing you're going to be in. Absolutely, and oftentimes

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Speaker 1: that does mean having cash in the bank, right Like,

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Speaker 1: So what's interesting is that one of the reasons all

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Speaker 1: these companies are putting on all these sales is because

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Speaker 1: they've got well, they've got a lot of inventory, right,

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Speaker 1: and so they've got too much surplus on hand. But

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Speaker 1: companies are also looking to share up their cash positions,

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Speaker 1: and so companies are looking ahead, they're forecasting, they're realizing that,

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Speaker 1: you know what, things may not be looking so great.

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Speaker 1: And what's crazy is that what companies are doing and

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Speaker 1: what we need to do as individuals, like that's basically

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Speaker 1: at odds with each other direct So they're trying to

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Speaker 1: unload all these goods and we're as consumers standing there

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Speaker 1: looking at all these things go on sale, and it

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Speaker 1: can be tempting to want to pounce on all of

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Speaker 1: these deals, which is totally fine if there's something that

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Speaker 1: you were already going to purchase, But we definitely don't

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Speaker 1: want folks dipping into their their cash reserves, into their

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Speaker 1: emergency fund just to take advantage of a sale, because

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Speaker 1: it's like, oh my gosh, these are killer sales, and

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Speaker 1: ever seen sales like this before in my life. But

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Speaker 1: you don't want to end up in a position where

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Speaker 1: three six months from now, it's like, Okay, I've got

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Speaker 1: all these goodies, but I don't have any cash and

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Speaker 1: it looks like I'm about to get fired from right.

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Speaker 1: That's not the position. Yeah, that we want to see

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Speaker 1: folks highly uncomfortable. Okay. So one of the ways though,

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Speaker 1: that you can spend less this holiday season is by

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Speaker 1: getting your stuff out of the dumpster. Does sound like

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Speaker 1: something you would recommend? Uh? Not only is this something

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Speaker 1: that I'm interested in, Joe, A lot of folks are

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Speaker 1: interested in this. Uh. It's a kind of the latest

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Speaker 1: TikTok trend. The Times documented the rise and popularity of

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Speaker 1: trash enthusiasts out there, and interestingly enough, some of these

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Speaker 1: folks are finding some some cool stuff out there, man.

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Speaker 1: And what's cool too, is that they are raising awareness

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Speaker 1: about the fact that many companies they throw out this

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Speaker 1: old merchandise that is still perfectly good, that's perfectly useful, tired,

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Speaker 1: but they are like slashing it to make it unusable

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Speaker 1: with the coach. Like when one of like, yeah, so

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Speaker 1: somebody had called out one of the premier handbag companies

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Speaker 1: out there because they came across a bunch of beautiful

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Speaker 1: bags and they were yeah, they were sliced up with

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Speaker 1: the razor blade. And I think actually because of folks

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Speaker 1: who took to social media. Companies like Coach are no

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Speaker 1: longer doing that. They're they're basically have committed themselves to

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Speaker 1: a more responsible disposal of goods maybe that are either

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Speaker 1: out of season or maybe they were returned, that kind

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Speaker 1: of thing. Uh, And so that's definitely a good outcome

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Speaker 1: from some of this awareness. But how do you get

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Speaker 1: the best stuff if you are interested in, uh doing

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Speaker 1: your own dumpster diving? Well, mass retailers like t J

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Speaker 1: Max and Home Goods they are apparently some of the

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Speaker 1: best places to find items that are still useful. And

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Speaker 1: so the question is like, should you actually start doing this?

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Speaker 1: Should you start dumpster diving to save money and all

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Speaker 1: of this? First of all, I don't. It kind of

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Speaker 1: depends on like your ick factor, like what you're willing

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Speaker 1: to put up with. But a lot of this depends

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Speaker 1: to you and how much you value your time and

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Speaker 1: just what kind of stuff you're likely going to be

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Speaker 1: able to snag. Obviously, don't go dumpster diving thinking that

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Speaker 1: you're gonna find a Apple laptop or something like that

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Speaker 1: that's brand new in the box. That's not going to happen.

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Speaker 1: But there are certainly some some goodies out there to

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Speaker 1: be found. Yeah, alright, My only dumpster diving experience comes

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Speaker 1: from back in the day, my buddy Travis. There was

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Speaker 1: a former airline called air Tran and they ran this

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Speaker 1: promotion at Wendy's where if you collected I think it

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Speaker 1: was thirty two cups you got a free one way

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Speaker 1: trip and sixty four you got a free round trip.

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Speaker 1: And I don't know if there was a limit or not,

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Speaker 1: but I distinctly remember Travis jumping into a dumpster behind

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Speaker 1: the Wendy's in order to get these cups, and I

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Speaker 1: can't blame him, man. I think that's one of those

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Speaker 1: things where that yeah, to be able to get a free,

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Speaker 1: great deal, free flight just by getting some cups and

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Speaker 1: guarantee there's like stacks of them in the trash. Maybe

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Speaker 1: that's why air Trend didn't stick around. They were based

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Speaker 1: here in Atlanta, where there were I remember flying with

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Speaker 1: them back in the day, back like oh five in

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Speaker 1: that period of time, their free flights to fast food lovers.

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Speaker 1: So maybe yeah, maybe so So Okay, one of the

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Speaker 1: few times I remember doing some serious dumpster diving in college,

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Speaker 1: we would we would go to the dorms and students

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Speaker 1: who were moving out of the dorms. They had to

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Speaker 1: be moved out by a certain date, right, they had

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Speaker 1: to be completely moved out. And so these I mean,

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Speaker 1: these kids would just take their lofts. These are built

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Speaker 1: loss made a two by fours and whatnot, but they

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Speaker 1: would just take them all. I mean, there's so much timber,

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Speaker 1: so much lumber. Uh, not just in the dumpster, but

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Speaker 1: just completely surrounding it. And did we would just go

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Speaker 1: over there, load those things up in the back of

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Speaker 1: a friend's pickup shut and then take them back to

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Speaker 1: a friend's apartment and we would resell some of those

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Speaker 1: loss back to students the follow The following billion also

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Speaker 1: set one aside for myself because me and some friends

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Speaker 1: were moving into an apartment where we were sharing bedrooms.

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Speaker 1: And so, yeah, I slept in the loft that I

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Speaker 1: found next to a dumpster after my freshman year in college.

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Speaker 1: Like like, and you're worth the time and effort for

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Speaker 1: being trash and then you're making money on the stuff

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Speaker 1: that you found. I think that's that's smart. Well, and yeah,

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Speaker 1: it just goes to show that dumpster diving sounds pretty icky,

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Speaker 1: and most of the time it is, but there are

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Speaker 1: ways at times to make it worth your while. I

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Speaker 1: just like how it's we're they're destigmatizing it a little

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Speaker 1: bit for sure. Like I think there's a lot of

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Speaker 1: folks who might feel that, oh, I would never do that,

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Speaker 1: or even just seeing a curb alert. But even by

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Speaker 1: folks doing something like this, now somebody else who read

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Speaker 1: the story might think, well, there's some folks out there

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Speaker 1: who are dumpster diving. I should be willing to at

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Speaker 1: least take a look at some of these items on

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Speaker 1: the side of the curb, get over at least a

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Speaker 1: little bit of your tramaphobus exactly, and to save money.

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Speaker 1: But all right, let's talk about something else. Let's talk

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Speaker 1: about ad results. We just talked about Jeff Bezo a

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Speaker 1: second ago. Let's talk about some issues that the company

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Speaker 1: he started is having. And uh, Amazon, as it turns out,

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Speaker 1: has an ad problem that is seemingly out of control.

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Speaker 1: The Washington Post had a thorough article showing just how

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Speaker 1: many ads you're getting when you do a typical Amazon search.

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Speaker 1: And by the way, Jeff Bezos owns the Washington Post,

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Speaker 1: but he has no editorial control over this stuff. And

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Speaker 1: I'm glad to see that Washington Post writers are still

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Speaker 1: holding Amazon's feet to the fire. And what this author

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Speaker 1: found was that on the first five screens of a

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Speaker 1: search result, you'll see more than fifty of the space

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Speaker 1: dedicated to paid results. The sponsored content you have to

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Speaker 1: comb through basically at the top of the Amazon search

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Speaker 1: results is astounding, and it's not always easy to decipher

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Speaker 1: and add from an organic search result. Like they're they're

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Speaker 1: getting trickier and trickier, for sure, Like everybody knows the

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Speaker 1: ones where it's like written in smaller type and it's

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Speaker 1: like italics, it's like sponsored content or whatever, and it's

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Speaker 1: got the little information dought or whatever. But I did

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Speaker 1: not realize how how they're just embedding some of the

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Speaker 1: some of the more of the the paid or recommended

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Speaker 1: results further down as well, like it's in a different format.

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Speaker 1: And sometimes Amazon is like promoting a specific brand that

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Speaker 1: pays them a lot of money, right, so they're saying,

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Speaker 1: cool tide, you get the top spot when somebody googles

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Speaker 1: huntry detergent because you pay us a certain amount of

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Speaker 1: hundreds of thousands of dollars a month. Other times they're

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Speaker 1: promoting their own brands, like the Amazon Basics or Amazon

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Speaker 1: specific brands that they own, but it's getting more and

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Speaker 1: more difficult to find the top results based on search relevancy,

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Speaker 1: which is what Amazon kind of built their business around.

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Speaker 1: So who just say this. You know, Amazon is not

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Speaker 1: the devil or anything like that, but keep keep that

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Speaker 1: in mind next time you're searching for things on the

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Speaker 1: Amazon site. It might be best to do your research elsewhere,

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Speaker 1: even if you do end up buying on Amazon in

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Speaker 1: the end. I just like I think sometimes we think

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Speaker 1: of Amazon is a good search engine for finding the

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Speaker 1: thing that we want. But when you realize that more

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Speaker 1: than fifty of the searches for a lot of searches

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Speaker 1: are turning up a bunch of ads, Like I don't know,

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Speaker 1: you might want to look elsewhere. It seems like Amazon

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Speaker 1: is a little less reliable when it comes to like

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Speaker 1: finding a new product or find the brand of a

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Speaker 1: product that you should be purchasing, just because of like

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Speaker 1: how spammy it's gotten. Yeah. I like the recommendation to

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Speaker 1: to do your research elsewhere. Yeah, search whatever it is

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Speaker 1: that you're looking to buy and search like wirecutter, or

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Speaker 1: head over to consumer reports, but look Reddit, even like

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Speaker 1: there's some reviews on Reddit. Those are better places to

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Speaker 1: look as opposed to wait, that's going straight to the

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Speaker 1: Amazon app on your phone. Four and a half stars,

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Speaker 1: but it's got three reviews, and but it's sponsored and

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Speaker 1: all that stuff. Exactly. Yeah, Okay, so while we're talking

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Speaker 1: about shopping, let's talk again about why buy Now, Pay

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Speaker 1: Later is still awful. It turns out that buyers paid

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Speaker 1: via by Now Pay Later quite a bit over a

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Speaker 1: Black Friday. It actually jumped by sixty eight percent, according

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Speaker 1: to market Watch, which is a significant increase. And you know,

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Speaker 1: we often talk about mindful spending, and so this is

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Speaker 1: just another reminder to continue being careful this holiday season

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Speaker 1: when it comes to racking up debts, which is what

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Speaker 1: we don't want you to do. Uh, As you are

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Speaker 1: looking to give gifts to those who you love and

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Speaker 1: care about, don't buy stuff that you can't afford on

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Speaker 1: on on a credit card or or via buy now,

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Speaker 1: Pay Later. When you're doing that, you're just kicking the

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Speaker 1: can down the road. You're creating this debt obligation that's

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Speaker 1: going to be tough to to stomach come January or

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Speaker 1: you know, June July of next year. That yeah, and

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Speaker 1: you know it's only the beginning of December as well.

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Speaker 1: And so keep in mind you still have time to

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Speaker 1: have a conversation with friends and relatives about gift giving expectations.

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Speaker 1: This doesn't necessarily have to be a trend that continues

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Speaker 1: where every year everybody always is like slowly over time

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Speaker 1: increasing that maximum spend amount. But having that conversation is

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Speaker 1: just a great way to keep that gift giving from

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Speaker 1: getting out of control. And I think you can be

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Speaker 1: honest Matt that, hey, guess what it's things are type

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Speaker 1: financially for me right now, I don't think I can

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Speaker 1: participate in at least this in this part of the

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Speaker 1: gift giving that our family traditionally does. And because I

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Speaker 1: think people will understand, they would rather so you be

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Speaker 1: financially healthy than uh than have you racking up debt

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Speaker 1: to buy gifts for them like that. That's not your

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Speaker 1: loving family does not want that for you, I guarantee it.

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Speaker 1: And let's talk about the job market for just a second.

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Speaker 1: Or they do want that for you, maybe they don't

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Speaker 1: love you. You need a new family. It's time to

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Speaker 1: find a new family this Christmas. But let's talk about

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Speaker 1: the job market, because whether you're looking to find another

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Speaker 1: job or you just want some part time holiday work.

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Speaker 1: Some employers are offering bonuses still for for joining their

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Speaker 1: team right now, like the labor market, matt still remains

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Speaker 1: fairly hot. Like we haven't seen it cool off as

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Speaker 1: much as it looked like it would at this point.

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Speaker 1: And Amazon it might not be as good for users

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Speaker 1: because of the abundance of ads, but they are offering

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Speaker 1: a minimum starting salary of eighteen dollars an hour and

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Speaker 1: up to a three thousand dollars sign on bonus for

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Speaker 1: folks who are applying for their their holiday work. We say,

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Speaker 1: read the fine print and make sure you know how

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Speaker 1: long you've got to stick around, and make sure that

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Speaker 1: working in an Amazon warehouse is something you can stomach. Sure,

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Speaker 1: I'm not sure if people still left it was the

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Speaker 1: truck driver's right that to pee in bottles, But like,

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Speaker 1: I'm not sure, I've not heard great things about the

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Speaker 1: working conditions there, But I don't know. A hefty bonus

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Speaker 1: might just push you in that direct action, and you know,

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Speaker 1: you might find other employers out there willing to offer

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Speaker 1: better benefits or meaningful sign up bonuses because there's just

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Speaker 1: more competition out there. There aren't enough workers to fill

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Speaker 1: the jobs. That's right, and Of course, most of those

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Speaker 1: jobs don't require a degree, and the journal had an

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Speaker 1: interesting article about the importance, or actually the lack thereof,

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Speaker 1: of a college education. This past week, a bunch of

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Speaker 1: major companies out there are lowering the bar when it

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Speaker 1: comes to degree requirements for certain positions for certain jobs.

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Speaker 1: Companies like Delta, Google, and IBM, they are requiring a

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Speaker 1: college degree for more positions that they need filled. Uh

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Speaker 1: and beyond private companies as well. Some states like Maryland,

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Speaker 1: actually they have stopped requiring degrees for more jobs that

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Speaker 1: they have available as well. There's a good quote this.

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Speaker 1: A VP over at Walmart was quoted as saying, the

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Speaker 1: company's goal is to shift the focus from the way

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Speaker 1: someone got their skills, which is the degree, to what

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Speaker 1: skills they do have. Is awesome, man. I love this

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Speaker 1: because we talked about this a decent bit here on

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Speaker 1: the show College. It still makes sense for a whole

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Speaker 1: bunch of young folks out there, but it is not

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Speaker 1: necessarily a slam dunk decision because the cost and the

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Speaker 1: value proposition are key to determining your choice. Are They're

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Speaker 1: so important when it comes to deciding if college is

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Speaker 1: going to be right for an individual we've actually were

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Speaker 1: we've been hiring a few folks lately to to do

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Speaker 1: some work for us on the back end here on

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Speaker 1: the podcast. And honestly, I don't even know if they

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Speaker 1: have a college degree or not. We didn't ask, but

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Speaker 1: we didn't even ask. We we don't care. We've cared

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Speaker 1: about the skills they've got. This just like yeah, and

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Speaker 1: and hopefully this is a trend that continues because we

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Speaker 1: like the direction this is going. We want folks. There's

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Speaker 1: certainly something to be said when it comes to being

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Speaker 1: well educated right for the sake of one's own growth.

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Speaker 1: But the requirement, the mandatory nature of having to go

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Speaker 1: to a higher education uh and potentially pay just out

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Speaker 1: the nose for a degree that they're not excited about

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Speaker 1: getting just to be able to get some sort of

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Speaker 1: entry level job is not something that that we're excited

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Speaker 1: about a lot of the jobs that we're talking about here.

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Speaker 1: That these companies and that these states are now saying,

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Speaker 1: you don't need a college degree for our our positions

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Speaker 1: that shouldn't have required a degree in the first place,

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Speaker 1: and so it's good to see them walking that back

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Speaker 1: and saying, listen, part of it is the hot labor

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Speaker 1: market that we're talking about, Matt, that they're still they

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Speaker 1: want to open up to a broader spectrum of potential

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Speaker 1: employees because it's just hard to find the right people.

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Speaker 1: And so if you can listen to the requirements and

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Speaker 1: still find the person that you need, but just to

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Speaker 1: open it up to a broader range of applicants, I

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Speaker 1: think it makes a lot of sense. But you we've

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Speaker 1: got several other stories that we're gonna get to during

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Speaker 1: our Friday flight today, including we're gonna we're gonna talk

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Speaker 1: about the housing health scape. We've got a few stories

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Speaker 1: to talk about there and more right after this. All right,

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Speaker 1: we are back. Let's keep this Friday flight going, Matt.

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Speaker 1: Let get to the ludicrous headline of the week. And

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Speaker 1: it just seems like today's episode there's a theme for me,

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Speaker 1: which is bashing all the major tech platforms. And sorry

430
00:20:09,040 --> 00:20:12,639
Speaker 1: in advance all you billionaire owners of these companies, but

431
00:20:13,000 --> 00:20:14,840
Speaker 1: let's take a couple more to task. We've already kind

432
00:20:14,840 --> 00:20:17,399
Speaker 1: of given Amazon some flak. We're gonna give Google some

433
00:20:17,560 --> 00:20:19,760
Speaker 1: here in a second. We could even throw Apple into

434
00:20:19,800 --> 00:20:21,679
Speaker 1: the mix as way. Maybe we will. Do they care

435
00:20:21,680 --> 00:20:23,919
Speaker 1: about free speech or not? I don't know. I don't know.

436
00:20:24,040 --> 00:20:26,159
Speaker 1: I do. Elon must does make a point though on

437
00:20:26,200 --> 00:20:29,439
Speaker 1: the thirty percent vig they take from it's it's a problem.

438
00:20:29,480 --> 00:20:31,800
Speaker 1: I think it's a problem. But even though in court

439
00:20:31,880 --> 00:20:34,040
Speaker 1: it's it was found out that that's an okay practice

440
00:20:34,080 --> 00:20:37,160
Speaker 1: for Apple to participate in. But I digress. But let's

441
00:20:37,200 --> 00:20:40,800
Speaker 1: not go there. Let's let's move on and let's let's

442
00:20:40,800 --> 00:20:43,520
Speaker 1: smack Facebook around for a second. Because listener Becca, she

443
00:20:43,560 --> 00:20:46,720
Speaker 1: shared an article from pro Publica in the Facebook group.

444
00:20:46,920 --> 00:20:50,480
Speaker 1: The title reads, tax filing websites have been sending users

445
00:20:50,560 --> 00:20:55,119
Speaker 1: financial information to Facebook and that struck me as something

446
00:20:55,119 --> 00:20:57,760
Speaker 1: that was potentially egregious or wrong. And it turns out

447
00:20:57,800 --> 00:21:01,040
Speaker 1: that the big players in the tax ailing business H

448
00:21:01,119 --> 00:21:04,240
Speaker 1: and R, Block, tax Act, and tax Layer have been

449
00:21:04,280 --> 00:21:08,479
Speaker 1: sending sensitive personal data to Facebook about their customers, and

450
00:21:08,560 --> 00:21:12,199
Speaker 1: that's messed up. That info often included the income of

451
00:21:12,240 --> 00:21:16,040
Speaker 1: that customer, their refund amount, their filing status, sometimes phone numbers,

452
00:21:16,080 --> 00:21:19,160
Speaker 1: and more. And so that information was being sent over

453
00:21:19,680 --> 00:21:21,720
Speaker 1: even if you don't have an account with Facebook, which

454
00:21:21,720 --> 00:21:24,199
Speaker 1: is amazing They're giving Facebook this information even though you

455
00:21:24,200 --> 00:21:26,480
Speaker 1: don't have a relationship with Facebook. But Facebook like, well'

456
00:21:26,480 --> 00:21:29,679
Speaker 1: take that data sure, and so this info then, of

457
00:21:29,720 --> 00:21:33,760
Speaker 1: course allows Facebook to better target AD two users. And

458
00:21:33,800 --> 00:21:35,800
Speaker 1: it looks like a lot of these companies they're stopping

459
00:21:35,800 --> 00:21:37,960
Speaker 1: this practice based on this reporting. Not all of them,

460
00:21:37,960 --> 00:21:39,920
Speaker 1: though I don't think have have said that they are.

461
00:21:40,240 --> 00:21:44,040
Speaker 1: But this is a violation of consumer privacy and it

462
00:21:44,080 --> 00:21:46,320
Speaker 1: never should have happened in the first place. Matt reading that,

463
00:21:46,400 --> 00:21:48,199
Speaker 1: I was like, how how does this stuff happen? How

464
00:21:48,240 --> 00:21:50,080
Speaker 1: did he messed up? How do people think this is okay?

465
00:21:50,359 --> 00:21:52,760
Speaker 1: It's not It's not okay? Uh? And meta they were

466
00:21:52,800 --> 00:21:56,159
Speaker 1: Actually they were fined tune or seventy five million dollars

467
00:21:56,160 --> 00:21:59,240
Speaker 1: by the EU for violating some privacy laws thanks to

468
00:21:59,520 --> 00:22:02,159
Speaker 1: a data that made a lot of personal user data public.

469
00:22:02,800 --> 00:22:05,560
Speaker 1: So this is just another reason to freeze your credit, folks.

470
00:22:06,040 --> 00:22:07,679
Speaker 1: We've got an article up on the site that we

471
00:22:07,680 --> 00:22:10,280
Speaker 1: can link to that shows you how easy it is.

472
00:22:10,320 --> 00:22:12,400
Speaker 1: It does not take very long at all. And we

473
00:22:12,400 --> 00:22:14,720
Speaker 1: we also want you to consider carefully which companies you

474
00:22:14,800 --> 00:22:17,120
Speaker 1: choose to do business with. And so to round things out,

475
00:22:17,160 --> 00:22:20,320
Speaker 1: to throw one more tech company under the bus, Google

476
00:22:20,520 --> 00:22:24,280
Speaker 1: they agreed to a settlement with forty states over the

477
00:22:24,280 --> 00:22:28,480
Speaker 1: collection of user location data that they agreed to stop collecting,

478
00:22:28,520 --> 00:22:30,639
Speaker 1: and so this has kept collecting it even though users

479
00:22:30,640 --> 00:22:32,439
Speaker 1: had collicked no, we don't want you to collect this

480
00:22:32,520 --> 00:22:34,600
Speaker 1: date on us, and they were like, well, we'll sneakily

481
00:22:34,680 --> 00:22:37,159
Speaker 1: just do it behind the scenes. Yeah, And honestly, like I,

482
00:22:37,560 --> 00:22:39,280
Speaker 1: I don't think it'd be a bad thing to see

483
00:22:39,280 --> 00:22:41,720
Speaker 1: these fines get even more severe to help keep the

484
00:22:41,760 --> 00:22:44,720
Speaker 1: tech companies accountable, to keep them in check. Because you

485
00:22:44,720 --> 00:22:47,240
Speaker 1: know these these numbers, they sound pretty high, right, we

486
00:22:47,320 --> 00:22:50,840
Speaker 1: just mentioned that two seventy five million dollar fine against Facebook.

487
00:22:51,080 --> 00:22:52,959
Speaker 1: Well here's the thing, that's actually less money than they

488
00:22:52,960 --> 00:22:56,760
Speaker 1: make in a single day. So like, these truly aren't large,

489
00:22:57,440 --> 00:22:59,960
Speaker 1: massive fines. It kind of makes me get back to

490
00:23:00,200 --> 00:23:02,320
Speaker 1: like a flick on the wrist and like Kim Kardashian

491
00:23:02,320 --> 00:23:05,760
Speaker 1: when she got fined for not disclosing her crypto holdings

492
00:23:05,800 --> 00:23:09,280
Speaker 1: or whatever, like these amounts. Like, yes, to us normal people,

493
00:23:09,320 --> 00:23:11,280
Speaker 1: it sounds like a ton of money, But to the

494
00:23:11,359 --> 00:23:14,199
Speaker 1: uber elites, celebrities out there, and definitely to these massive

495
00:23:14,200 --> 00:23:17,159
Speaker 1: tech companies, it is nothing. Yes, that is true, and

496
00:23:17,200 --> 00:23:19,080
Speaker 1: so yeah, the fines s need to go up in

497
00:23:19,200 --> 00:23:23,280
Speaker 1: order to incentivize good behavior and punish bad behavior. So

498
00:23:23,320 --> 00:23:26,679
Speaker 1: that we consumers that we are stuff is another're floating

499
00:23:26,680 --> 00:23:29,200
Speaker 1: around our phone numbers and our refund amounts, and that

500
00:23:29,480 --> 00:23:32,520
Speaker 1: we're not being sold every which way right and left

501
00:23:32,800 --> 00:23:35,800
Speaker 1: to whatever to the highest bidder. Um. But let's talk

502
00:23:35,840 --> 00:23:38,439
Speaker 1: about another company, Matt doing something that you know borders

503
00:23:38,440 --> 00:23:42,440
Speaker 1: on ludicrous. This isn't a tech company, but Mercedes announced

504
00:23:42,440 --> 00:23:45,240
Speaker 1: this week that if you if you drive a new

505
00:23:45,240 --> 00:23:47,879
Speaker 1: Mercedes e V electric vehicle, you're gonna have to pay

506
00:23:47,880 --> 00:23:52,440
Speaker 1: an extra a year for a subscription if you want

507
00:23:52,480 --> 00:23:56,320
Speaker 1: to be able to drive it fast. And this is

508
00:23:56,400 --> 00:23:59,040
Speaker 1: completely insane, honestly. Yeah, this also could have been a

509
00:23:59,080 --> 00:24:02,800
Speaker 1: ludicrous headline Evil week for sure. Yea. The Drive reports

510
00:24:02,840 --> 00:24:05,719
Speaker 1: that in order to enjoy the quicker acceleration that these

511
00:24:05,800 --> 00:24:08,040
Speaker 1: cars are capable of, you're gonna have to fork over

512
00:24:08,240 --> 00:24:12,000
Speaker 1: big bucks luxury car companies they've been dipping their toes

513
00:24:12,080 --> 00:24:16,040
Speaker 1: into the subscription space already right, hoping to make recurring

514
00:24:16,040 --> 00:24:18,840
Speaker 1: revenue off their customers. Like BMW Matt, We've talked about

515
00:24:18,840 --> 00:24:22,640
Speaker 1: them charging a monthly fee for heated seats, for access

516
00:24:22,800 --> 00:24:26,000
Speaker 1: to the hardware that's already installed in your car. Yeah,

517
00:24:26,040 --> 00:24:27,520
Speaker 1: you're gonna have to pay, You don't have to pay

518
00:24:27,720 --> 00:24:29,480
Speaker 1: on a monthly basis for that. One of the same

519
00:24:29,520 --> 00:24:30,959
Speaker 1: thing is true of Mercedes. If you want to be

520
00:24:30,960 --> 00:24:33,159
Speaker 1: able to, if you want your car to accelerate more quickly,

521
00:24:33,280 --> 00:24:36,080
Speaker 1: paying them twelve bucks a year to do so sounds ridiculous.

522
00:24:36,119 --> 00:24:38,359
Speaker 1: We think it sucks because you're forking out a ton

523
00:24:38,400 --> 00:24:41,360
Speaker 1: of money already for a nice car, for a luxury

524
00:24:41,359 --> 00:24:43,399
Speaker 1: car in this case, And to me, this would be

525
00:24:43,400 --> 00:24:45,879
Speaker 1: a deal killer for sure, Like there's just on the

526
00:24:45,880 --> 00:24:48,120
Speaker 1: principle of the thing, and so I don't know. Fortunately

527
00:24:48,119 --> 00:24:50,320
Speaker 1: for us, I guess our ancient minivans don't have a

528
00:24:50,359 --> 00:24:54,600
Speaker 1: paywall in order to achieve max feed of eight. So

529
00:24:54,640 --> 00:24:56,840
Speaker 1: on a on a related note, did we talk about

530
00:24:56,960 --> 00:24:59,720
Speaker 1: me renting a Ford Explore a couple weeks ago? So

531
00:25:00,400 --> 00:25:02,760
Speaker 1: that was took a trip um out of town. I

532
00:25:02,800 --> 00:25:05,000
Speaker 1: was actually up in Michigan and it was freezing up there,

533
00:25:05,480 --> 00:25:08,080
Speaker 1: and the car or it was the Ford Explore that

534
00:25:08,080 --> 00:25:10,399
Speaker 1: we rented. It was a newer Ford Explorer and it

535
00:25:10,520 --> 00:25:13,480
Speaker 1: came with heated steering wheels. And it's just one of

536
00:25:13,480 --> 00:25:15,560
Speaker 1: those things where you see these nice, nicer features being

537
00:25:15,600 --> 00:25:18,640
Speaker 1: offered by cars that aren't even necessarily luxury, and you think,

538
00:25:18,760 --> 00:25:20,800
Speaker 1: who the heck needs that? But I will say if

539
00:25:20,800 --> 00:25:23,520
Speaker 1: we lived in a cold, colder climate, I would totally

540
00:25:23,880 --> 00:25:27,840
Speaker 1: be splurging for the heated steering wheel. I've never experienced

541
00:25:27,840 --> 00:25:29,119
Speaker 1: something like that before, but I was like, oh, this

542
00:25:29,200 --> 00:25:31,240
Speaker 1: is this is real nice. When I had the Nissan

543
00:25:31,520 --> 00:25:36,080
Speaker 1: Leaf running, the actual heater would deteriorate the battery so quickly. Yeah,

544
00:25:36,119 --> 00:25:38,760
Speaker 1: but it had heated season hearing, heated steering wheels, so

545
00:25:39,119 --> 00:25:40,520
Speaker 1: that you had that, I would just put on those

546
00:25:40,560 --> 00:25:43,280
Speaker 1: two and it would help so much. We don't need

547
00:25:43,320 --> 00:25:46,159
Speaker 1: to warm the rest of the family, just just he

548
00:25:46,200 --> 00:25:48,880
Speaker 1: has the driver. All the seats were actually heated, even

549
00:25:48,880 --> 00:25:51,840
Speaker 1: the rear seats, so oh no way, Yeah, that's crazy.

550
00:25:52,560 --> 00:25:54,240
Speaker 1: It was a nice little park. That's fancy because I

551
00:25:54,320 --> 00:25:56,919
Speaker 1: just think they know. Yeah, that's another that is one

552
00:25:56,920 --> 00:25:58,240
Speaker 1: of the problems with evs. When you turn on the

553
00:25:58,280 --> 00:26:02,080
Speaker 1: air conditioning or the heater to control zapps the battery,

554
00:26:02,080 --> 00:26:05,040
Speaker 1: it does in a big way. But yeah, hopefully Mercedes

555
00:26:05,080 --> 00:26:09,320
Speaker 1: will rethink their devious ways and not chargiculous to access

556
00:26:09,680 --> 00:26:12,760
Speaker 1: the full abilities of the car. I kind of get it.

557
00:26:12,840 --> 00:26:15,440
Speaker 1: With the Tesla autonomous driving feature, I feel like that's

558
00:26:15,480 --> 00:26:18,840
Speaker 1: something a little bit different but this is actual hardware

559
00:26:19,280 --> 00:26:22,200
Speaker 1: that we're oftentimes talking about here. That's super ridiculous. Yeah

560
00:26:22,240 --> 00:26:24,359
Speaker 1: for sure. All right, let's talk about housing for a second,

561
00:26:24,600 --> 00:26:26,919
Speaker 1: the housing hellscape, and maybe just some of the latest

562
00:26:27,080 --> 00:26:29,840
Speaker 1: on when it comes to home prizes and the housing

563
00:26:29,880 --> 00:26:32,679
Speaker 1: market in general, because there have been actually a few

564
00:26:33,119 --> 00:26:36,760
Speaker 1: headlines and I thought were super intense this week. Axios

565
00:26:36,800 --> 00:26:39,920
Speaker 1: reported that a collapse they use that word in home

566
00:26:39,920 --> 00:26:42,359
Speaker 1: prices is coming down the pike. The Atlantic had a

567
00:26:42,400 --> 00:26:44,280
Speaker 1: piece telling folks that they should wait to buy a home.

568
00:26:44,320 --> 00:26:47,040
Speaker 1: They're basically, nah, you shouldn't buy home right now. It's

569
00:26:47,040 --> 00:26:49,679
Speaker 1: not a good idea. And to me, those are like

570
00:26:50,160 --> 00:26:52,880
Speaker 1: decently provocative assertions that it collapses coming, that people should

571
00:26:52,880 --> 00:26:55,800
Speaker 1: completely avoid buying housing. So what's the truth when it

572
00:26:55,840 --> 00:26:57,720
Speaker 1: comes to the near term future of the housing market.

573
00:26:58,000 --> 00:27:01,920
Speaker 1: It's tough to say, right, But one of the items

574
00:27:01,960 --> 00:27:04,600
Speaker 1: that was touted as a reason to hold off on

575
00:27:04,720 --> 00:27:07,320
Speaker 1: buying a home in that Atlantic piece that I mentioned

576
00:27:07,680 --> 00:27:10,280
Speaker 1: is a lack of inventory that's on the market. There

577
00:27:10,320 --> 00:27:13,359
Speaker 1: aren't many homes available for sale, and so that's keeping

578
00:27:13,400 --> 00:27:16,000
Speaker 1: prices up. But it's interesting to me that that was

579
00:27:16,080 --> 00:27:18,439
Speaker 1: mentioned as one of the reasons because a lack of

580
00:27:18,480 --> 00:27:21,080
Speaker 1: home supply in general is one of the reasons that

581
00:27:21,160 --> 00:27:23,199
Speaker 1: you and I think that there's unlikely to be a

582
00:27:23,240 --> 00:27:27,160
Speaker 1: home price collapse, right, that's being predicted, And how low

583
00:27:27,200 --> 00:27:29,159
Speaker 1: is this supply, Well, there are different estimates on that

584
00:27:29,240 --> 00:27:32,400
Speaker 1: front from different organizations, but we we could truly stand

585
00:27:32,400 --> 00:27:35,200
Speaker 1: to see millions more homes and apartments being built across

586
00:27:35,240 --> 00:27:38,040
Speaker 1: the country. The truth is building has not kept up

587
00:27:38,040 --> 00:27:42,120
Speaker 1: with growth, and this supply shortage it can't be fixed overnight.

588
00:27:42,160 --> 00:27:45,880
Speaker 1: So I guess when I see headlines and predictions of collapse,

589
00:27:46,000 --> 00:27:48,840
Speaker 1: it seems to fly in the face of other information

590
00:27:48,920 --> 00:27:51,879
Speaker 1: that we have, which might suggest actually the opposite, right

591
00:27:51,920 --> 00:27:55,600
Speaker 1: that home prices aren't going to collapse, but might actually

592
00:27:55,760 --> 00:27:58,200
Speaker 1: remain steadier than a lot of folks think. Yeah, man,

593
00:27:58,240 --> 00:28:00,920
Speaker 1: that supply shortage. That is a major reason that we

594
00:28:01,080 --> 00:28:04,240
Speaker 1: find it difficult to foresee home prices cratering in a

595
00:28:04,320 --> 00:28:08,119
Speaker 1: major way, especially if interest rate hikes calmed down. In

596
00:28:08,320 --> 00:28:10,680
Speaker 1: mortgage rad's chill out just a little bit. That's a

597
00:28:10,760 --> 00:28:12,399
Speaker 1: huge part of the reason. By the way, we're seeing

598
00:28:12,560 --> 00:28:16,080
Speaker 1: like a freeze basically for buyers and sellers. Is morge

599
00:28:16,840 --> 00:28:19,000
Speaker 1: he wants to buy a new home or move out

600
00:28:19,000 --> 00:28:21,040
Speaker 1: of a home where they have a low rate locked in,

601
00:28:21,480 --> 00:28:25,479
Speaker 1: although a correction is still definitely possible, and like, honestly, man,

602
00:28:25,680 --> 00:28:27,600
Speaker 1: it's just a weird time to be a home buyer

603
00:28:27,840 --> 00:28:31,320
Speaker 1: right um. The future is really uncertain right now again,

604
00:28:31,320 --> 00:28:33,880
Speaker 1: I mean the rapid rise in interest rates basically doubling

605
00:28:34,080 --> 00:28:36,080
Speaker 1: in the past eight months, that has just shocked the

606
00:28:36,160 --> 00:28:40,000
Speaker 1: system as the overall cost of buying a home have skyrocketed,

607
00:28:40,320 --> 00:28:42,320
Speaker 1: and so we can't predict the future. But the keys

608
00:28:42,360 --> 00:28:44,760
Speaker 1: to successfully buying a home in this market are are

609
00:28:44,840 --> 00:28:47,800
Speaker 1: having your own personal finances in solid shape and that's

610
00:28:47,840 --> 00:28:51,080
Speaker 1: something that you have control over, and having a longer

611
00:28:51,120 --> 00:28:53,960
Speaker 1: timeline when it comes to owning that home in order

612
00:28:54,000 --> 00:28:57,160
Speaker 1: to make up for a potential housing market slump. Typically,

613
00:28:57,360 --> 00:28:59,000
Speaker 1: I think like we would always say that you want

614
00:28:59,000 --> 00:29:01,320
Speaker 1: to hang onto your home for probably about five years

615
00:29:01,320 --> 00:29:03,400
Speaker 1: in order to make sure that you are able to

616
00:29:03,400 --> 00:29:05,920
Speaker 1: write out any fluctuations in the market to be able

617
00:29:05,960 --> 00:29:09,200
Speaker 1: to recoup the costs associated with purchasing and selling a home.

618
00:29:09,560 --> 00:29:12,440
Speaker 1: But given where things are now like, we're looking at

619
00:29:12,520 --> 00:29:15,120
Speaker 1: even closer to seven years in order to play it

620
00:29:15,160 --> 00:29:17,120
Speaker 1: on the safe side, basically in order to write out

621
00:29:17,160 --> 00:29:20,000
Speaker 1: any potential dips in the market as well as those

622
00:29:20,000 --> 00:29:23,440
Speaker 1: transaction costs. A decade would be even better, right, But

623
00:29:23,800 --> 00:29:27,160
Speaker 1: for a lot of folks, Yeah, that five years just

624
00:29:27,200 --> 00:29:29,760
Speaker 1: isn't good enough anymore. Not when not when we could

625
00:29:29,760 --> 00:29:32,360
Speaker 1: see a correction, right even though the collapse, I think

626
00:29:32,560 --> 00:29:35,600
Speaker 1: it's oversold. I don't see that coming. Um, But you

627
00:29:35,680 --> 00:29:37,800
Speaker 1: never know. You also never know because there are so

628
00:29:37,840 --> 00:29:40,880
Speaker 1: many factors that combine to make up the housing market.

629
00:29:40,880 --> 00:29:43,600
Speaker 1: It's really it's just really hard to predict. Um. But yeah,

630
00:29:43,640 --> 00:29:46,400
Speaker 1: speaking of homes now, we talked about he locks for

631
00:29:46,520 --> 00:29:49,320
Speaker 1: just a second on Wednesday's episode Home Equity Lines of

632
00:29:49,360 --> 00:29:52,360
Speaker 1: Credit when we talked about the benefits of being financially flexible.

633
00:29:52,520 --> 00:29:55,280
Speaker 1: And this might sound weird, but we would say that

634
00:29:55,320 --> 00:29:58,400
Speaker 1: having a helock is great, but using it isn't, which

635
00:29:58,400 --> 00:30:00,720
Speaker 1: I know is just kind of a goofy thing to say.

636
00:30:00,800 --> 00:30:03,800
Speaker 1: But the stats show that more folks are opening up

637
00:30:03,840 --> 00:30:06,360
Speaker 1: lines of credit against their home right now, and more

638
00:30:06,400 --> 00:30:09,400
Speaker 1: folks are also tapping those helocks that they have, according

639
00:30:09,440 --> 00:30:12,840
Speaker 1: to recent stats from Adam Data Solutions. And you know,

640
00:30:12,840 --> 00:30:15,680
Speaker 1: with the average helock rate being almost eight percent at

641
00:30:15,680 --> 00:30:17,480
Speaker 1: this point, is rates have picked up quite a bit,

642
00:30:17,800 --> 00:30:21,040
Speaker 1: borrowing against your home's equity becomes even more precarious, so

643
00:30:21,120 --> 00:30:23,960
Speaker 1: we would say be careful before you open a helock

644
00:30:24,040 --> 00:30:26,880
Speaker 1: and start borrowing from it. The biggest downside of having

645
00:30:26,920 --> 00:30:29,040
Speaker 1: helock and pulling money out is that if you aren't

646
00:30:29,040 --> 00:30:31,280
Speaker 1: able to pay back that money, you're putting your home

647
00:30:31,320 --> 00:30:34,240
Speaker 1: at risk. Right Unlike a credit card, which is unsecured debt,

648
00:30:34,400 --> 00:30:37,080
Speaker 1: this helock is secured debt, and it could cost you

649
00:30:37,080 --> 00:30:39,280
Speaker 1: your house. You could cost you your home if you

650
00:30:39,280 --> 00:30:41,440
Speaker 1: have trouble making payments over an extended period of time.

651
00:30:41,680 --> 00:30:45,000
Speaker 1: But having access to a helock, we would say provides

652
00:30:45,040 --> 00:30:48,680
Speaker 1: additional financial backstop in addition to your emergency fund, which

653
00:30:48,760 --> 00:30:51,440
Speaker 1: is again something we talked about recently, But be prudent

654
00:30:51,480 --> 00:30:53,000
Speaker 1: in how you use it. I know it's weird to

655
00:30:53,000 --> 00:30:54,600
Speaker 1: tell people, yeah, you should get one of these, but

656
00:30:54,640 --> 00:30:56,280
Speaker 1: don't want ever use it. And it's it's kind of

657
00:30:56,320 --> 00:30:58,560
Speaker 1: like having credit available to you, right, Like like you

658
00:30:58,560 --> 00:31:01,160
Speaker 1: want to have large lines of money, like like with

659
00:31:01,160 --> 00:31:03,080
Speaker 1: a credit card available to you, but it doesn't it

660
00:31:03,160 --> 00:31:05,520
Speaker 1: doesn't mean you want to tick up more than that

661
00:31:05,560 --> 00:31:07,760
Speaker 1: thirty percent utilization rest right, Like you want to have

662
00:31:07,800 --> 00:31:09,920
Speaker 1: that available to you, but don't necessarily want to use it,

663
00:31:09,960 --> 00:31:11,240
Speaker 1: and you don't want to use it if you can't

664
00:31:11,240 --> 00:31:13,120
Speaker 1: pay it off on time and in full every month either.

665
00:31:13,200 --> 00:31:16,160
Speaker 1: Like yeah, And it makes sense that more folks are

666
00:31:16,200 --> 00:31:18,600
Speaker 1: doing this, right as we've seen home equity shoot through

667
00:31:18,600 --> 00:31:21,560
Speaker 1: the roof over the past to three years. There's folks

668
00:31:21,640 --> 00:31:23,520
Speaker 1: and they're realizing that they're sitting on a lot of

669
00:31:23,560 --> 00:31:26,520
Speaker 1: cash that's tied up into their home. And so I

670
00:31:26,600 --> 00:31:28,880
Speaker 1: get the temptation, I get the desire to do this,

671
00:31:29,240 --> 00:31:31,560
Speaker 1: and it can provide a nice backstop, but we just

672
00:31:31,600 --> 00:31:33,960
Speaker 1: don't want folks treating their homes like a t m

673
00:31:34,040 --> 00:31:36,120
Speaker 1: S where they're just drawing down that cash, whether they're

674
00:31:36,120 --> 00:31:38,320
Speaker 1: pulling that money out. We want you, like Joel said,

675
00:31:38,640 --> 00:31:41,680
Speaker 1: be prudent, but we wanted to do remind folks as well,

676
00:31:41,720 --> 00:31:45,640
Speaker 1: don't forget to enter into when that six hundred dollars.

677
00:31:45,680 --> 00:31:48,360
Speaker 1: All you have to do is be a subscriber to

678
00:31:48,520 --> 00:31:51,320
Speaker 1: the How the Money newsletter, and again you can subscribe

679
00:31:51,320 --> 00:31:53,720
Speaker 1: over at how the Money dot com. There's always money

680
00:31:53,720 --> 00:31:58,920
Speaker 1: in the newsletter. Mat Nice arrested development. Speaking of housing

681
00:31:59,320 --> 00:32:01,880
Speaker 1: and development, it pays to be It pays to be

682
00:32:01,880 --> 00:32:05,000
Speaker 1: a hout of money Newsletters subscriber. It does, but that

683
00:32:05,120 --> 00:32:07,720
Speaker 1: is gonna be it for this episode, Joel, until next time.

684
00:32:07,920 --> 00:32:10,080
Speaker 1: Best Friends Out, Best Friends Out,