1 00:00:00,120 --> 00:00:03,080 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt. 2 00:00:03,160 --> 00:00:08,000 Speaker 1: Today we're discussing rate hike repercussions, thieves targeting your car, 3 00:00:08,360 --> 00:00:30,720 Speaker 1: and password sharing crackdowns. Well fry, buddy, this is our 4 00:00:30,760 --> 00:00:33,479 Speaker 1: Friday Flight episode. Every Friday, we take a look at 5 00:00:33,479 --> 00:00:35,400 Speaker 1: some of the different headlines we've come across this week, 6 00:00:35,440 --> 00:00:38,200 Speaker 1: and we talked about how they are going to impact 7 00:00:38,240 --> 00:00:40,440 Speaker 1: your money at the important happenings and what it means 8 00:00:40,440 --> 00:00:42,240 Speaker 1: to you. That's right. We've got a bunch of stories 9 00:00:42,320 --> 00:00:44,200 Speaker 1: to get to today, like the ones you mentioned, plus 10 00:00:44,240 --> 00:00:46,520 Speaker 1: a bunch of others. But first me, can you believe 11 00:00:46,560 --> 00:00:49,159 Speaker 1: how long we have been podcasting this episode right here? 12 00:00:49,200 --> 00:00:53,400 Speaker 1: This is episode for what is pretty crazy, right, We're 13 00:00:53,400 --> 00:00:57,160 Speaker 1: getting really dang close episode of five hundred, which is, 14 00:00:57,240 --> 00:00:59,960 Speaker 1: first of all, mind blowing. I can't believe we've record 15 00:01:00,800 --> 00:01:02,760 Speaker 1: that we've put up with each other for that many episodes, 16 00:01:02,880 --> 00:01:04,400 Speaker 1: that our listeners have put up with us that long. 17 00:01:04,880 --> 00:01:07,119 Speaker 1: Thank you listeners for listening to this show. I mean 18 00:01:07,319 --> 00:01:09,920 Speaker 1: quite literally, we would not have a show without our listeners. 19 00:01:09,920 --> 00:01:11,640 Speaker 1: I mean we would we just be speaking into the boys, 20 00:01:11,640 --> 00:01:14,320 Speaker 1: nobody would be listening, and we would probably get tired 21 00:01:14,360 --> 00:01:16,280 Speaker 1: of that after. Let's be honest, we would still be 22 00:01:16,319 --> 00:01:18,360 Speaker 1: interested in the topics that we talk about, but we 23 00:01:18,360 --> 00:01:20,480 Speaker 1: wouldn't I mean, would we actually put out a podcast 24 00:01:20,480 --> 00:01:24,160 Speaker 1: if nobody listening webly recording? That would be craziness, uh 25 00:01:24,240 --> 00:01:26,480 Speaker 1: lunacy if we were to do that with nobody listening. 26 00:01:26,600 --> 00:01:31,240 Speaker 1: But we are going to celebrate that five episode. Uh. 27 00:01:31,280 --> 00:01:34,399 Speaker 1: And to what we're just saying, we do want to 28 00:01:34,440 --> 00:01:36,000 Speaker 1: sort of turn the tables a little bit, and we 29 00:01:36,040 --> 00:01:38,920 Speaker 1: specifically want to hear from our listeners. We want to 30 00:01:38,959 --> 00:01:41,480 Speaker 1: hear some of the different money tips and tricks that 31 00:01:41,600 --> 00:01:44,080 Speaker 1: you have been able to implement into your life. We 32 00:01:44,120 --> 00:01:45,760 Speaker 1: want to hear them. We want you to record a 33 00:01:45,800 --> 00:01:47,600 Speaker 1: voice memo, we want you to send them to us. 34 00:01:47,720 --> 00:01:49,720 Speaker 1: That way we can share them on the show on 35 00:01:49,760 --> 00:01:52,680 Speaker 1: that five episode, just like we do oftentimes with our 36 00:01:52,720 --> 00:01:55,200 Speaker 1: ask kund of Money episodes, but instead of taking questions, 37 00:01:55,240 --> 00:01:57,160 Speaker 1: we want to hear the different ways that you are 38 00:01:57,200 --> 00:01:59,840 Speaker 1: crushing your money goals through the different tips and tricks 39 00:01:59,840 --> 00:02:01,880 Speaker 1: that you have implemented. Yeah, basically, we want to hear 40 00:02:02,040 --> 00:02:05,640 Speaker 1: your best piece of financial advice. The share preferably in 41 00:02:05,720 --> 00:02:07,120 Speaker 1: under a minute. Matt and I'll be able to talk 42 00:02:07,120 --> 00:02:09,400 Speaker 1: about it, but we will share as many of these 43 00:02:09,760 --> 00:02:12,480 Speaker 1: pieces of financial advice they are come from our listeners 44 00:02:12,520 --> 00:02:15,560 Speaker 1: as possible. On episode five hundred and you know, just 45 00:02:15,560 --> 00:02:17,400 Speaker 1: to sweeten the pot a little bit, we're gonna come 46 00:02:17,480 --> 00:02:20,079 Speaker 1: up with some We're we're working on a cool piece 47 00:02:20,120 --> 00:02:21,760 Speaker 1: of how the Money, so we are in the midst 48 00:02:21,800 --> 00:02:23,480 Speaker 1: of it right now. Yeah, that we will send to 49 00:02:23,639 --> 00:02:25,480 Speaker 1: and it's it's gonna be cool that we will send 50 00:02:25,480 --> 00:02:28,320 Speaker 1: to every listener whose piece of financial advice makes it 51 00:02:28,360 --> 00:02:30,400 Speaker 1: onto the show. We'll get your address, will send you 52 00:02:30,400 --> 00:02:32,440 Speaker 1: something cool. Um. But but it's really just a way 53 00:02:32,480 --> 00:02:34,400 Speaker 1: to say, like, you know what we're we'udition out financial 54 00:02:34,480 --> 00:02:37,760 Speaker 1: advice all the time on the show right fived episodes deep, 55 00:02:38,000 --> 00:02:40,840 Speaker 1: but our listeners have so much knowledge to their constantly. 56 00:02:40,960 --> 00:02:42,959 Speaker 1: We are only two dudes, and we do things in 57 00:02:42,960 --> 00:02:44,640 Speaker 1: a certain way. I am sure there are a lot 58 00:02:44,680 --> 00:02:47,360 Speaker 1: of folks out there who probably are thinking, you know, 59 00:02:47,480 --> 00:02:49,040 Speaker 1: I love listening to Matt and Joel, but I don't 60 00:02:49,040 --> 00:02:51,760 Speaker 1: necessarily have an ascount of money question to submit. But 61 00:02:51,800 --> 00:02:54,200 Speaker 1: they might have some killer advice. Yeah, and they've never 62 00:02:54,240 --> 00:02:56,640 Speaker 1: mentioned this before on the show the world. Have they 63 00:02:56,720 --> 00:02:58,800 Speaker 1: left that on the table or and uh, and and 64 00:02:58,840 --> 00:03:01,520 Speaker 1: listeners are always giving rate advice in the how Money 65 00:03:01,560 --> 00:03:03,320 Speaker 1: Facebook group. We just want to hear your voice. Is 66 00:03:03,360 --> 00:03:05,920 Speaker 1: a chance for you to tell everybody out there in 67 00:03:05,919 --> 00:03:08,080 Speaker 1: the how of Money community the great thing that saved 68 00:03:08,120 --> 00:03:10,239 Speaker 1: you money or or helped you as an investor. And 69 00:03:10,280 --> 00:03:11,720 Speaker 1: it's just gonna be fun to kind of share as 70 00:03:11,720 --> 00:03:14,160 Speaker 1: many of those as possible just in a few weeks 71 00:03:14,160 --> 00:03:17,680 Speaker 1: time here on on How the Money episode in that celebration. 72 00:03:18,080 --> 00:03:21,040 Speaker 1: Just um, getting to include listeners in episodes is a 73 00:03:21,080 --> 00:03:23,520 Speaker 1: lot of fun. I'm looking forward to this one. That's right, man. 74 00:03:23,600 --> 00:03:25,960 Speaker 1: And again, it is super easy to record a voice 75 00:03:25,960 --> 00:03:28,200 Speaker 1: memo on your phone and to just email it to us. 76 00:03:28,200 --> 00:03:31,120 Speaker 1: But we will include some brief instructions up on the 77 00:03:31,160 --> 00:03:34,040 Speaker 1: website at how the Money dot com forward slash celebrate. 78 00:03:34,360 --> 00:03:36,040 Speaker 1: Just head over there if you are looking for a 79 00:03:36,120 --> 00:03:39,360 Speaker 1: little more guidance in how to submit those voice memos. 80 00:03:39,400 --> 00:03:42,000 Speaker 1: Can't wait just basically, you know, take that episode off 81 00:03:42,040 --> 00:03:44,120 Speaker 1: and learn from our listeners kind of going to like 82 00:03:44,120 --> 00:03:46,840 Speaker 1: Tom brady semi retirement for a second and let other 83 00:03:46,880 --> 00:03:49,360 Speaker 1: people do the heavy lifting for one episode. Speaking of 84 00:03:49,400 --> 00:03:52,160 Speaker 1: Tom Brady, we are going to get to a story 85 00:03:52,280 --> 00:03:54,480 Speaker 1: that includes him later on during this episode. But let's 86 00:03:54,480 --> 00:03:56,680 Speaker 1: go ahead, man, get to our Friday flight. Let's do it. Okay, 87 00:03:56,680 --> 00:03:58,960 Speaker 1: So the first thing we have to talk about is 88 00:03:59,200 --> 00:04:03,200 Speaker 1: the federal reserves rate hike that happened this week. And um, yeah, 89 00:04:03,200 --> 00:04:05,400 Speaker 1: that happened just a couple of days ago. You're you're 90 00:04:05,400 --> 00:04:08,320 Speaker 1: probably seeing a lot of headlines about it these days 91 00:04:08,440 --> 00:04:12,360 Speaker 1: if you pay attention to the financial public publications. But 92 00:04:12,560 --> 00:04:14,200 Speaker 1: I guess the question that a lot of people have 93 00:04:14,680 --> 00:04:17,359 Speaker 1: um in their brain right now, Matt, after seeing this 94 00:04:17,480 --> 00:04:20,080 Speaker 1: breaking news, is well, what does it mean to me? 95 00:04:20,240 --> 00:04:22,720 Speaker 1: Of course, that's what the Friday flights all about. And um, 96 00:04:22,839 --> 00:04:25,400 Speaker 1: you know, we want to break down these complicated macroeconomic 97 00:04:25,839 --> 00:04:28,480 Speaker 1: issues and then discuss how they pertain to your personal finances. 98 00:04:28,800 --> 00:04:31,880 Speaker 1: And by raising interest rates, the main goal that the 99 00:04:31,920 --> 00:04:34,440 Speaker 1: Fed has here it basically, it's to slow down the 100 00:04:34,560 --> 00:04:36,920 Speaker 1: rate of inflation. That's what we're seeing right, which we're 101 00:04:36,960 --> 00:04:40,240 Speaker 1: all seeing at the grocery store, on car prices, everything. Right, 102 00:04:40,400 --> 00:04:43,280 Speaker 1: It's become a massive problem affecting all of our budgets 103 00:04:43,520 --> 00:04:46,159 Speaker 1: in a real substantial way. And so it's gonna be 104 00:04:46,200 --> 00:04:49,839 Speaker 1: interesting to see how these rate hikes impact the economy. 105 00:04:49,880 --> 00:04:53,240 Speaker 1: Because nothing is certain, right, yeah, exactly. Well, it's important 106 00:04:53,240 --> 00:04:55,280 Speaker 1: to you to mention to like what this federal rate 107 00:04:55,360 --> 00:04:57,960 Speaker 1: hike means. Basically, this is like the overnight lending rate 108 00:04:58,080 --> 00:05:00,920 Speaker 1: that the Fed issues to banks, and so this isn't 109 00:05:00,920 --> 00:05:03,400 Speaker 1: like a rate that you as a consumer, as a borrower, 110 00:05:03,520 --> 00:05:05,800 Speaker 1: that you have access to. It's the rate that the 111 00:05:05,800 --> 00:05:08,200 Speaker 1: Fed pays banks when they deposit their money with the 112 00:05:08,240 --> 00:05:11,039 Speaker 1: Fed overnight basis. But how it does have trickle down effects, 113 00:05:11,040 --> 00:05:13,200 Speaker 1: It certainly does that. Let's talk about a few of 114 00:05:13,200 --> 00:05:15,400 Speaker 1: those trickle down effects, because you know, it's likely that 115 00:05:15,400 --> 00:05:19,880 Speaker 1: we're gonna see, um, this impact people most severely if 116 00:05:19,920 --> 00:05:22,760 Speaker 1: they have variable interest rate debt, so that means credit 117 00:05:22,760 --> 00:05:25,440 Speaker 1: card interest rates are are going to rise, and if 118 00:05:25,480 --> 00:05:27,599 Speaker 1: you've got like a home equity line of credit, that 119 00:05:27,720 --> 00:05:29,520 Speaker 1: rate will also be ticking up the next time your 120 00:05:29,520 --> 00:05:31,720 Speaker 1: bank is allowed to increase it. But you know, it's 121 00:05:31,800 --> 00:05:34,760 Speaker 1: less actually about the tiny quarter percent increase that we're 122 00:05:34,760 --> 00:05:37,719 Speaker 1: seeing in the near term basis points. Yeah, it's it's 123 00:05:37,720 --> 00:05:40,200 Speaker 1: really it's not that much this one hike. It's more 124 00:05:40,240 --> 00:05:43,320 Speaker 1: about the long term additional rate hikes that the Fed 125 00:05:43,360 --> 00:05:46,359 Speaker 1: has announced, like that they're going to be doing, and 126 00:05:46,440 --> 00:05:48,880 Speaker 1: so Yeah, now is actually the perfect time to focus 127 00:05:48,960 --> 00:05:51,719 Speaker 1: on paying down those kinds of debts that you've got 128 00:05:51,760 --> 00:05:54,520 Speaker 1: that that a variable, the variable interest rate debts before 129 00:05:54,560 --> 00:05:57,440 Speaker 1: those rates rise even further. You know, folks often want 130 00:05:57,440 --> 00:05:59,279 Speaker 1: to know, well, does this mean mortgage traits are going 131 00:05:59,320 --> 00:06:01,440 Speaker 1: to go higher? They have been going up in recent months, 132 00:06:01,480 --> 00:06:03,760 Speaker 1: and ebody's paying attention has seen that they're actually the 133 00:06:03,800 --> 00:06:06,840 Speaker 1: highest they've been in three years now. But this rate 134 00:06:06,920 --> 00:06:10,479 Speaker 1: bump doesn't actually mean that that mortgage traits are going 135 00:06:10,520 --> 00:06:13,039 Speaker 1: to take up. Mortgage traits are kind of complex in 136 00:06:13,040 --> 00:06:15,920 Speaker 1: in how they're figured out. But yeah, they might even 137 00:06:15,920 --> 00:06:18,320 Speaker 1: take down over the next days, maybe the next couple 138 00:06:18,320 --> 00:06:21,080 Speaker 1: of weeks. That remains to be seen. But yeah, if 139 00:06:21,120 --> 00:06:23,280 Speaker 1: you have variable interest rate debt, now is the time 140 00:06:23,440 --> 00:06:25,000 Speaker 1: to do something about it. Now is the time to 141 00:06:25,040 --> 00:06:26,960 Speaker 1: start getting rid of it. That's right, man, And to 142 00:06:27,240 --> 00:06:31,160 Speaker 1: sort of preempt another question, no savings interest rates, they 143 00:06:31,200 --> 00:06:33,840 Speaker 1: won't be going up. We've we've touched on this before. 144 00:06:34,120 --> 00:06:38,480 Speaker 1: But the reason that banks pay interest to customers, uh, 145 00:06:38,720 --> 00:06:40,520 Speaker 1: is because they want your money to be on file 146 00:06:40,600 --> 00:06:42,839 Speaker 1: with them. They take that, you know, those deposits, and 147 00:06:42,839 --> 00:06:44,479 Speaker 1: then they can do other things with that money. Whether 148 00:06:44,480 --> 00:06:47,560 Speaker 1: that's lending it out to two borrowers. But because of 149 00:06:47,600 --> 00:06:50,719 Speaker 1: all of the money that we that Americans in general 150 00:06:50,760 --> 00:06:54,279 Speaker 1: are flush with, they don't need any more money. They've 151 00:06:54,279 --> 00:06:57,279 Speaker 1: got all the money that they need are stocked, yes, 152 00:06:57,320 --> 00:07:00,600 Speaker 1: and that's why basically they aren't at the moment at 153 00:07:00,680 --> 00:07:02,960 Speaker 1: least offering higher interest rates, although we might see that 154 00:07:03,040 --> 00:07:04,839 Speaker 1: start to take up a little bit, especially with the 155 00:07:04,839 --> 00:07:08,000 Speaker 1: more competitive online banks. But we should also mention that 156 00:07:08,160 --> 00:07:11,360 Speaker 1: it makes sense for some folks to do a student 157 00:07:11,400 --> 00:07:14,760 Speaker 1: loan refinance these days. We know that you still don't 158 00:07:14,800 --> 00:07:17,280 Speaker 1: have to pay on those loans right now, but those 159 00:07:17,280 --> 00:07:19,520 Speaker 1: payments are set to resume in just over a month, 160 00:07:19,920 --> 00:07:21,600 Speaker 1: and if you can afford to pay on those loans 161 00:07:21,640 --> 00:07:24,480 Speaker 1: and you don't qualify for loan forgiveness, now could be 162 00:07:24,560 --> 00:07:27,440 Speaker 1: the perfect time to refinance while the rates are are 163 00:07:27,480 --> 00:07:31,040 Speaker 1: still near all time lows. But remember refinancing it's not 164 00:07:31,160 --> 00:07:34,560 Speaker 1: for everyone. The federal loans that are out there have 165 00:07:34,640 --> 00:07:38,800 Speaker 1: some additional protections for borrowers, including uh income based repayment. 166 00:07:39,400 --> 00:07:41,800 Speaker 1: Were you to refinance, you would be giving up some 167 00:07:41,880 --> 00:07:45,280 Speaker 1: of those perks, some of those benefits of federal loans. 168 00:07:45,400 --> 00:07:47,320 Speaker 1: But will make sure to link to an article that 169 00:07:47,480 --> 00:07:49,960 Speaker 1: explains all the different things that you need to consider. 170 00:07:50,200 --> 00:07:52,480 Speaker 1: Will link to that article in our show notes as well. Yeah, 171 00:07:52,520 --> 00:07:55,400 Speaker 1: for sure, and and that article hopefully. Yeah, we'll walk 172 00:07:55,440 --> 00:07:57,840 Speaker 1: you through if you're like, I'm not sure if I'm 173 00:07:57,880 --> 00:08:00,400 Speaker 1: the kindniverse who should be doing this for you, find 174 00:08:00,520 --> 00:08:02,880 Speaker 1: it'll help you decide whether or not it's for you. Alright, 175 00:08:03,200 --> 00:08:06,240 Speaker 1: let's talk about streaming for a second match. And over 176 00:08:06,280 --> 00:08:08,480 Speaker 1: the past decade, I would say we've all gotten used 177 00:08:08,520 --> 00:08:11,680 Speaker 1: to the fact that virtually all of the television we 178 00:08:11,720 --> 00:08:15,320 Speaker 1: watch is now delivered via streaming services. Live sports is 179 00:08:15,360 --> 00:08:19,400 Speaker 1: one of the exceptions, although that is moving via Hulu 180 00:08:19,480 --> 00:08:22,400 Speaker 1: Plus Live whatever, Amazon Primes getting Friday night baseball games 181 00:08:22,480 --> 00:08:24,360 Speaker 1: and stuff like that. So really, yeah, you follow the 182 00:08:24,360 --> 00:08:26,800 Speaker 1: baseball more closely than I do. Yeah, but we've seen 183 00:08:26,840 --> 00:08:29,000 Speaker 1: you know, like Thursday night football on Amazon Prime before 184 00:08:29,040 --> 00:08:30,840 Speaker 1: and stuff like that, so we're gonna see more and 185 00:08:30,880 --> 00:08:33,240 Speaker 1: more of that. But but also, yeah, we've gotten used 186 00:08:33,240 --> 00:08:35,439 Speaker 1: to the experience that we no longer have to put 187 00:08:35,520 --> 00:08:37,760 Speaker 1: up with commercials, and I think a lot of us 188 00:08:37,800 --> 00:08:40,480 Speaker 1: have been thrilled with that. Right now that we're we're 189 00:08:40,520 --> 00:08:44,120 Speaker 1: hooked on ad free streaming, though the different providers out 190 00:08:44,120 --> 00:08:46,160 Speaker 1: there there, you know, gently pulling the rug out from 191 00:08:46,200 --> 00:08:49,320 Speaker 1: under us. Commercials are basically on the comeback trail, and 192 00:08:49,320 --> 00:08:51,720 Speaker 1: you can get a discount for opting to watch commercials 193 00:08:52,200 --> 00:08:55,559 Speaker 1: while streaming. It's so Disney plus Is actually has announced 194 00:08:55,559 --> 00:08:58,600 Speaker 1: their planning to offer a discounted plan that includes commercials 195 00:08:58,760 --> 00:09:00,840 Speaker 1: later on this year. You know, you'll say five bucks 196 00:09:00,840 --> 00:09:03,200 Speaker 1: a month right now if you out for commercials on 197 00:09:03,559 --> 00:09:06,600 Speaker 1: HBO max is streaming service. Hulu has been doing this 198 00:09:06,920 --> 00:09:09,480 Speaker 1: for years. That's basically how they started, and then they 199 00:09:09,480 --> 00:09:12,400 Speaker 1: started to allow people to pay extra to opt out 200 00:09:12,400 --> 00:09:14,760 Speaker 1: of commercials. So I guess, um, yeah, my question is 201 00:09:14,760 --> 00:09:17,559 Speaker 1: is it worth it to opt out of commercials? I 202 00:09:17,600 --> 00:09:20,760 Speaker 1: guess it depends right on how much you just like them? Um, 203 00:09:20,760 --> 00:09:23,080 Speaker 1: but yeah, if you don't mind a commercial here and there, 204 00:09:23,320 --> 00:09:25,240 Speaker 1: then it could mean saving a few bucks each month, 205 00:09:25,559 --> 00:09:27,200 Speaker 1: and it really yeah, just kind of coming down to 206 00:09:27,200 --> 00:09:29,720 Speaker 1: the agel question of how much your time is worth. 207 00:09:29,800 --> 00:09:31,760 Speaker 1: I think as long as there are options for folks, 208 00:09:31,800 --> 00:09:35,000 Speaker 1: if all the different you know, streaming services chose to, 209 00:09:35,520 --> 00:09:38,800 Speaker 1: guess what, now, no matter what, you've got to watch commercials, 210 00:09:39,240 --> 00:09:41,080 Speaker 1: that would be a massive mistake, right, Like you've got 211 00:09:41,160 --> 00:09:43,000 Speaker 1: to give people the option. As long as folks have 212 00:09:43,040 --> 00:09:44,640 Speaker 1: a choice, I think a lot of individuals are going 213 00:09:44,679 --> 00:09:46,680 Speaker 1: to be happy with that. You know, I can't imagine 214 00:09:46,720 --> 00:09:48,440 Speaker 1: going back to the time when you're sitting there watching 215 00:09:48,440 --> 00:09:51,440 Speaker 1: a thirty minute episode of Friends or something like that, 216 00:09:51,480 --> 00:09:53,800 Speaker 1: and really there's only like twenty one minutes of actual 217 00:09:54,200 --> 00:09:56,599 Speaker 1: of actual show that you're watching. Two thirds of the 218 00:09:56,880 --> 00:09:59,600 Speaker 1: time was actual show? Con seriously exactly? Yeah, So keep 219 00:09:59,640 --> 00:10:03,079 Speaker 1: that in my uh, Netflix executives and whoever else listens 220 00:10:03,120 --> 00:10:05,720 Speaker 1: to the show. Because on that note, the reason we 221 00:10:05,720 --> 00:10:08,880 Speaker 1: mentioned Netflix is because they're actually getting tired of you 222 00:10:09,200 --> 00:10:14,600 Speaker 1: using your ex boyfriends roommates password to watch Britain uh 223 00:10:15,160 --> 00:10:18,600 Speaker 1: to survive Formula one series, which is fascinating. But we 224 00:10:18,720 --> 00:10:22,520 Speaker 1: mentioned this because Netflix is cracking down on password sharing. Uh. 225 00:10:22,520 --> 00:10:25,040 Speaker 1: This is it's being tested first in some other countries 226 00:10:25,080 --> 00:10:29,240 Speaker 1: where they are basically they're prompting their subscribers to pay 227 00:10:29,320 --> 00:10:32,360 Speaker 1: a few extra dollars like a fee for additional folks 228 00:10:32,360 --> 00:10:36,920 Speaker 1: who stream on your account. The Peruvians and the Chileans, 229 00:10:37,160 --> 00:10:39,640 Speaker 1: they're there, the guinea pigs out there, but the writing 230 00:10:39,720 --> 00:10:41,839 Speaker 1: seems to be on the wall. Uh. If you are 231 00:10:41,880 --> 00:10:44,960 Speaker 1: sharing a Netflix plan with a friend or another even 232 00:10:45,000 --> 00:10:47,280 Speaker 1: another family altogether. I guess there there's a good chance 233 00:10:47,320 --> 00:10:50,960 Speaker 1: that that behavior might cost you more in the future. Yeah, 234 00:10:50,960 --> 00:10:53,160 Speaker 1: And we're just seeing more competition in the streaming space 235 00:10:53,320 --> 00:10:57,040 Speaker 1: in general. We've been living in the golden age of television, 236 00:10:57,120 --> 00:10:59,760 Speaker 1: like literally, yeah exactly, I mean, is there ever gonna 237 00:10:59,760 --> 00:11:01,600 Speaker 1: be a time where there's more good stuff to watch? 238 00:11:01,800 --> 00:11:04,319 Speaker 1: Literally the past decade? Like we have been in this 239 00:11:04,360 --> 00:11:07,160 Speaker 1: period of time when it's it's like all the different 240 00:11:07,160 --> 00:11:10,000 Speaker 1: streaming services have been in an arms race essentially, right, 241 00:11:10,120 --> 00:11:12,640 Speaker 1: trying to grow their subscribers, growing to subscribers, and they're 242 00:11:12,679 --> 00:11:14,560 Speaker 1: increasing the kind of content that they're putting out. But 243 00:11:14,600 --> 00:11:16,600 Speaker 1: now it's getting a little more cutthroat, and they're saying 244 00:11:16,640 --> 00:11:18,960 Speaker 1: they're realizing, oh, in order for us to create the 245 00:11:19,080 --> 00:11:21,880 Speaker 1: you know this amazing content, we gotta we gotta make 246 00:11:21,920 --> 00:11:24,199 Speaker 1: some more money. And how many movies and TV shows 247 00:11:24,200 --> 00:11:26,840 Speaker 1: is Netflix putting out in a giving year. It's astronomical, right, 248 00:11:26,880 --> 00:11:28,959 Speaker 1: Like you you couldn't watch it at all. It's almost 249 00:11:29,000 --> 00:11:31,719 Speaker 1: like YouTube levels of content on Netflix these days. So 250 00:11:31,880 --> 00:11:35,200 Speaker 1: I get it, um, And that's and they're doing that globally, right, 251 00:11:35,240 --> 00:11:37,680 Speaker 1: Like I mean, like there is content being created in 252 00:11:37,679 --> 00:11:39,600 Speaker 1: different countries that we can't even get our hands on it, right, 253 00:11:40,280 --> 00:11:42,640 Speaker 1: all right, So yeah, just remember that and and we'll 254 00:11:42,880 --> 00:11:46,160 Speaker 1: keep you up to speed if that new Netflix practice 255 00:11:46,360 --> 00:11:49,199 Speaker 1: of cracking down and passwords comes to the US. Let's 256 00:11:49,240 --> 00:11:51,360 Speaker 1: talk about housing for a second map, because the housing 257 00:11:51,360 --> 00:11:55,120 Speaker 1: market it's still suffering from a lack of supply. Right. 258 00:11:55,400 --> 00:11:58,000 Speaker 1: Prices are through the roof, which has been frustrating anyone 259 00:11:58,040 --> 00:12:00,360 Speaker 1: who's trying to buy a home. Specifically, I feel bad 260 00:12:00,400 --> 00:12:03,520 Speaker 1: for first time homebuyers. Some of our friends, like their 261 00:12:03,520 --> 00:12:06,280 Speaker 1: house went for almost a hundred and fifty thollars able 262 00:12:06,280 --> 00:12:10,480 Speaker 1: list price. It's crazy town for almost like a starter home. 263 00:12:10,520 --> 00:12:14,440 Speaker 1: It's like it's a three to Yeah, it's mind blowing bonkers. 264 00:12:14,559 --> 00:12:16,280 Speaker 1: So I feel for everybody out there who's trying to 265 00:12:16,320 --> 00:12:19,120 Speaker 1: buy a house because it's really really hard, and you know, 266 00:12:19,280 --> 00:12:21,200 Speaker 1: our price is going to chill out in the near future. 267 00:12:21,480 --> 00:12:23,600 Speaker 1: That's anyone's guess. It depends on a whole lot of things. 268 00:12:23,920 --> 00:12:26,360 Speaker 1: But yeah, if you're out there making offers, just wanted 269 00:12:26,400 --> 00:12:29,560 Speaker 1: to note that personalization can actually be kind of helpful 270 00:12:29,640 --> 00:12:32,040 Speaker 1: when you're making your pitch. Um. The Wall Street Journal 271 00:12:32,120 --> 00:12:34,840 Speaker 1: had an article about how folks are winning in this 272 00:12:34,880 --> 00:12:38,600 Speaker 1: bidding war environment. Some are offering free concert tickets or 273 00:12:38,800 --> 00:12:42,400 Speaker 1: to pay for a vacation for the seller in order 274 00:12:42,440 --> 00:12:44,640 Speaker 1: to stand out someone else, like owned a restaurant, they 275 00:12:44,640 --> 00:12:46,959 Speaker 1: were like, fift off my restaurant for a whole year 276 00:12:47,640 --> 00:12:49,920 Speaker 1: for life. I mean, those are the kind of thing 277 00:12:49,960 --> 00:12:51,840 Speaker 1: lengths that people are going to to try to score 278 00:12:51,880 --> 00:12:54,800 Speaker 1: the home that they want. And I think it's pretty cool, right, 279 00:12:54,840 --> 00:12:59,040 Speaker 1: But I gotta say, honestly, sometimes a personalized letter about 280 00:12:59,080 --> 00:13:01,800 Speaker 1: what you love about the house, about the neighborhood, maybe 281 00:13:01,800 --> 00:13:04,160 Speaker 1: how much it would mean to your family, why you 282 00:13:04,240 --> 00:13:06,520 Speaker 1: want to live there, why you love their house in particular. 283 00:13:06,760 --> 00:13:09,160 Speaker 1: Those kinds of of letters don't cost anything, and they 284 00:13:09,160 --> 00:13:11,719 Speaker 1: can be really persuasive. Like I'm thinking, if I was 285 00:13:11,720 --> 00:13:13,640 Speaker 1: trying to sell my home, that would go a long 286 00:13:13,679 --> 00:13:15,680 Speaker 1: way and I would potentially be willing to take you know, 287 00:13:15,760 --> 00:13:17,920 Speaker 1: the not the highest offer. If you talk in my 288 00:13:17,920 --> 00:13:19,520 Speaker 1: heartstrnks when I read it, you know, if it made 289 00:13:19,559 --> 00:13:21,920 Speaker 1: me happy to this person will be taking over the 290 00:13:22,000 --> 00:13:23,920 Speaker 1: reins living in the house that I loved. So I 291 00:13:23,960 --> 00:13:25,880 Speaker 1: don't know, I always think that's a good tactic. It's 292 00:13:25,920 --> 00:13:28,320 Speaker 1: one worth considering. Those are all important things to keep 293 00:13:28,360 --> 00:13:30,160 Speaker 1: in mind. But you know, one thing that you don't 294 00:13:30,320 --> 00:13:34,560 Speaker 1: want to do to stand out is to wave your inspection. Evidently, 295 00:13:34,640 --> 00:13:37,560 Speaker 1: twenty one percent of folks are actually doing that right now, 296 00:13:37,559 --> 00:13:41,480 Speaker 1: according to real estate website Redfinn. We're not cool with 297 00:13:41,559 --> 00:13:45,720 Speaker 1: that unless you know a lot, a whole lot about houses, 298 00:13:46,240 --> 00:13:48,240 Speaker 1: or if you can bring someone who does to the 299 00:13:48,240 --> 00:13:51,280 Speaker 1: showing with you. Some folks are literally hiring inspectors to 300 00:13:51,360 --> 00:13:53,120 Speaker 1: come tour the homes with them so that they can 301 00:13:53,160 --> 00:13:56,200 Speaker 1: waive the inspection when they make their offer, which is 302 00:13:56,520 --> 00:13:58,960 Speaker 1: pretty brilliant. This is one of the ways to kind 303 00:13:58,960 --> 00:14:01,040 Speaker 1: of secure the deal and make that happened, but without 304 00:14:01,040 --> 00:14:03,400 Speaker 1: putting yourself at a new risk. Exactly like you are 305 00:14:03,400 --> 00:14:05,280 Speaker 1: still covering your bases because I know it can be 306 00:14:05,360 --> 00:14:09,400 Speaker 1: tempting to waive those different contingencies when you've been you know, 307 00:14:09,440 --> 00:14:11,960 Speaker 1: you might maybe even stymied in your home buying attempts, 308 00:14:12,040 --> 00:14:16,559 Speaker 1: but buying a multi hundred thousand dollar lemon or money 309 00:14:16,559 --> 00:14:18,840 Speaker 1: pit is something that you want to avoid at all costs. 310 00:14:18,840 --> 00:14:20,880 Speaker 1: And it might be over a million dollar lemon because 311 00:14:20,960 --> 00:14:23,760 Speaker 1: I don't know if stats recently came out, Matt, guess 312 00:14:23,760 --> 00:14:26,320 Speaker 1: what percentage of homes now cost over a million dollars 313 00:14:26,360 --> 00:14:28,320 Speaker 1: in the US. I think it used to be like 314 00:14:28,360 --> 00:14:30,040 Speaker 1: two percent. Now it's like eight or two. It's like 315 00:14:30,080 --> 00:14:32,680 Speaker 1: almost nine percent. Homes cost over a million dollars, which 316 00:14:32,760 --> 00:14:35,120 Speaker 1: I was surprised to see. But it's they're also all 317 00:14:35,120 --> 00:14:39,280 Speaker 1: out in California. That's true. Um of those are in California. 318 00:14:39,520 --> 00:14:43,040 Speaker 1: But I couldn't imagine. It's just a different way of living. 319 00:14:43,080 --> 00:14:45,440 Speaker 1: It is there. It is, Yeah, a million dollars for 320 00:14:45,640 --> 00:14:49,000 Speaker 1: you know, to one out there in some places. All well, 321 00:14:49,040 --> 00:14:51,200 Speaker 1: we've got more information that we've we've got to share 322 00:14:51,240 --> 00:14:54,320 Speaker 1: with you on today's Friday flight, including a story about 323 00:14:54,520 --> 00:14:56,760 Speaker 1: thieves targeting your car. We'll get to that and more 324 00:14:57,000 --> 00:15:08,880 Speaker 1: right after this break. All right, we're back from the break, Joel, 325 00:15:08,960 --> 00:15:12,080 Speaker 1: let's continue with our Friday flight. You are you willing 326 00:15:12,120 --> 00:15:14,120 Speaker 1: to introduce our ludicrous headline of the week. I'll do it. 327 00:15:14,160 --> 00:15:16,920 Speaker 1: I got this Bunny and uh listener Gary actually sent 328 00:15:17,000 --> 00:15:18,360 Speaker 1: this one over which we you know what, I just 329 00:15:18,440 --> 00:15:20,600 Speaker 1: want to say. If anybody comes across some sort of 330 00:15:20,640 --> 00:15:23,640 Speaker 1: ludicrous financial headline this week, feel free to email us. 331 00:15:23,720 --> 00:15:26,160 Speaker 1: Let us know. We love hearing suggestions from listeners, And 332 00:15:26,400 --> 00:15:28,560 Speaker 1: no matter what, we always like hearing from from listeners, 333 00:15:28,600 --> 00:15:31,040 Speaker 1: whether it's you sending in your voice memo to share 334 00:15:31,080 --> 00:15:33,360 Speaker 1: what cool tip you've implemented in your life that was 335 00:15:33,360 --> 00:15:36,600 Speaker 1: another quick plug for the episode, or if it's a 336 00:15:36,680 --> 00:15:38,880 Speaker 1: ludicrous headline, either way, we love it. Yeah for sure. 337 00:15:39,040 --> 00:15:42,600 Speaker 1: Right so this this headline was tom Brady unretired and 338 00:15:42,640 --> 00:15:47,000 Speaker 1: disappoints unlucky fan, and and everybody heard about this by now. 339 00:15:47,040 --> 00:15:49,840 Speaker 1: It was the unretirement that you know, went around the world, 340 00:15:49,880 --> 00:15:52,240 Speaker 1: and I don't think anyone was terribly shocked. So I'm 341 00:15:52,240 --> 00:15:54,520 Speaker 1: actually surprised when he said he was retiring. I was like, 342 00:15:54,600 --> 00:15:56,680 Speaker 1: I don't know if that's gonna stick. But yeah, you 343 00:15:56,680 --> 00:15:59,040 Speaker 1: would think all Tom Brady fans would be pumped that 344 00:15:59,120 --> 00:16:01,960 Speaker 1: he's coming back for another season, right, well, just about 345 00:16:02,000 --> 00:16:04,760 Speaker 1: all of them, not the anonymous guy or gal who 346 00:16:04,760 --> 00:16:07,840 Speaker 1: paid more than half a million dollars for Tom Brady's 347 00:16:08,040 --> 00:16:11,440 Speaker 1: last touchdown football. I would say that this football, Matt 348 00:16:11,520 --> 00:16:13,680 Speaker 1: is almost certainly worth a good bit less now that 349 00:16:13,760 --> 00:16:17,160 Speaker 1: it's just another random football that Tom Brady through and um, 350 00:16:17,400 --> 00:16:19,720 Speaker 1: it's it's a good idea if you're buying something like 351 00:16:19,760 --> 00:16:22,960 Speaker 1: this that that feels sentimental. There's there's so much going 352 00:16:23,000 --> 00:16:26,280 Speaker 1: on in the space of collectibles that I would say 353 00:16:26,480 --> 00:16:28,600 Speaker 1: a lot of people are gonna lose money in this space. 354 00:16:28,760 --> 00:16:31,120 Speaker 1: If you think about it as an investment, you are 355 00:16:31,320 --> 00:16:33,720 Speaker 1: are likely to get burned. When you're buying some sort 356 00:16:33,720 --> 00:16:37,200 Speaker 1: of sports memorabilia or playing cards. Um, you have no 357 00:16:37,280 --> 00:16:39,080 Speaker 1: idea whether that asset is going to go up or 358 00:16:39,120 --> 00:16:41,960 Speaker 1: down in price, and I think this unlucky bidder is 359 00:16:42,000 --> 00:16:44,320 Speaker 1: is going to find that out pretty quickly. I completely agree. 360 00:16:44,320 --> 00:16:46,520 Speaker 1: You definitely can't look at some of these different items 361 00:16:46,560 --> 00:16:50,160 Speaker 1: as an actual investment. But that being said, I would 362 00:16:50,160 --> 00:16:52,680 Speaker 1: be willing to say that I think that that specific 363 00:16:52,680 --> 00:16:57,160 Speaker 1: football that it will maintain its value because of the 364 00:16:57,160 --> 00:16:59,400 Speaker 1: fact that, like, there's still takes from Matt Well, there's 365 00:16:59,400 --> 00:17:01,560 Speaker 1: still a story associated with the football, right, Like there 366 00:17:01,560 --> 00:17:04,199 Speaker 1: there's no inherent value of that football except for the 367 00:17:04,200 --> 00:17:07,160 Speaker 1: fact that it was whatever the last ball that Tom 368 00:17:07,200 --> 00:17:09,800 Speaker 1: Brady tossed or whatever. But the fact is, it's not 369 00:17:09,840 --> 00:17:13,639 Speaker 1: like this after he deflated it, Oh ma'am, I was kidding. 370 00:17:13,760 --> 00:17:17,560 Speaker 1: It's not like that the story completely evaporated though, right 371 00:17:17,640 --> 00:17:19,240 Speaker 1: It's it's not like it all of a sudden does 372 00:17:19,240 --> 00:17:22,040 Speaker 1: not exist anymore. It's just that the story has changed 373 00:17:22,320 --> 00:17:24,240 Speaker 1: and and so like in my mind, so before it 374 00:17:24,280 --> 00:17:26,439 Speaker 1: was the football, it was you know, the last winning 375 00:17:26,640 --> 00:17:30,200 Speaker 1: touchdown past that he threw whatever. Now it's the football 376 00:17:30,480 --> 00:17:32,760 Speaker 1: that he threw before he fake retired. Like there is 377 00:17:32,760 --> 00:17:35,000 Speaker 1: still a story surrounding it. And like I might even 378 00:17:35,000 --> 00:17:36,600 Speaker 1: be willing to say that it might even be worth 379 00:17:36,640 --> 00:17:39,120 Speaker 1: slightly more because of the fact that we're talking about 380 00:17:39,119 --> 00:17:40,800 Speaker 1: it right now. Not that not that you know, we're 381 00:17:40,800 --> 00:17:42,960 Speaker 1: pumping it up or anything like that, but just because 382 00:17:43,000 --> 00:17:45,959 Speaker 1: it's going around the internet, it's becoming like a legend. 383 00:17:46,000 --> 00:17:48,360 Speaker 1: It's a basically it's a meme, right Like, like that 384 00:17:48,520 --> 00:17:51,480 Speaker 1: is why memestocks or a thing. It's not because necessarily 385 00:17:51,480 --> 00:17:54,399 Speaker 1: of the inherent value of that thing, but rather it 386 00:17:54,440 --> 00:17:57,080 Speaker 1: has more to do with the story and the lore 387 00:17:57,440 --> 00:17:59,960 Speaker 1: surrounding the item. Uh. And so that's why I will 388 00:18:00,119 --> 00:18:02,480 Speaker 1: to say that it's going to maintain its value or 389 00:18:02,520 --> 00:18:04,400 Speaker 1: we might even see a go weapon value. This might 390 00:18:04,440 --> 00:18:06,720 Speaker 1: just be a short term, twenty four hour new cycle story. 391 00:18:06,800 --> 00:18:08,960 Speaker 1: So I don't know, we'll see, we'll see, But um, 392 00:18:09,040 --> 00:18:11,159 Speaker 1: it's still funny. I appreciate your take, and it's still 393 00:18:11,320 --> 00:18:13,439 Speaker 1: kind of funny, and yeah, I'm sure that was their 394 00:18:13,440 --> 00:18:15,920 Speaker 1: immediate reaction where they're just like, wait, he just came 395 00:18:15,920 --> 00:18:19,600 Speaker 1: out of retire retirement, son of a Well, speaking of 396 00:18:19,640 --> 00:18:22,640 Speaker 1: speculative assets, I think there's a story in the Financial 397 00:18:22,640 --> 00:18:24,840 Speaker 1: Times that we should talk about because, you know, even 398 00:18:25,119 --> 00:18:27,600 Speaker 1: a good story, like you're talking about this this football 399 00:18:27,640 --> 00:18:29,760 Speaker 1: has kind of a story associated with it, maybe that 400 00:18:29,800 --> 00:18:32,800 Speaker 1: will lead to actually an increase in value. Well, even 401 00:18:32,920 --> 00:18:36,080 Speaker 1: a good story can't can't prevent speculators from getting crushed 402 00:18:36,200 --> 00:18:39,120 Speaker 1: right now as n f T prices are are getting hammered. 403 00:18:39,480 --> 00:18:43,480 Speaker 1: And yeah, basically the speculative frenzy in that space seems 404 00:18:43,480 --> 00:18:45,680 Speaker 1: to be over or or at least in a lull 405 00:18:45,760 --> 00:18:48,240 Speaker 1: for the time being. In the Financial Times reports that 406 00:18:48,320 --> 00:18:50,760 Speaker 1: since November and kind of the peaks of the n 407 00:18:50,760 --> 00:18:53,240 Speaker 1: f T market, the average price of n f T 408 00:18:53,400 --> 00:18:56,720 Speaker 1: s for sale has declined by almost And so I 409 00:18:56,720 --> 00:18:59,280 Speaker 1: don't similar to that Tom Brady football, right, Like, I 410 00:18:59,280 --> 00:19:02,120 Speaker 1: sure hope you bought digital art for sentimental reasons because 411 00:19:02,160 --> 00:19:04,560 Speaker 1: you really liked the way it looked and you wanted 412 00:19:04,560 --> 00:19:06,719 Speaker 1: to incorporate it into your life in some way former fashion, 413 00:19:06,920 --> 00:19:09,000 Speaker 1: not just because you're trying to score a quick buck, 414 00:19:09,040 --> 00:19:11,160 Speaker 1: because a lot of people have seen the value of 415 00:19:11,400 --> 00:19:13,399 Speaker 1: some of those digital assets that they thought we're going 416 00:19:13,440 --> 00:19:16,639 Speaker 1: to continue going up in value exponentially, just plumb it 417 00:19:16,640 --> 00:19:18,960 Speaker 1: back down to earth and if some of them have become, 418 00:19:19,040 --> 00:19:22,040 Speaker 1: you know, almost worthless. That's right, man. Here's another story 419 00:19:22,080 --> 00:19:24,000 Speaker 1: that it actually could have been our ludicrous headline of 420 00:19:24,000 --> 00:19:27,040 Speaker 1: the week. But it's all about the massive uptick in 421 00:19:27,240 --> 00:19:31,199 Speaker 1: catalytic converter theft in addition to the of course, terrible, 422 00:19:31,320 --> 00:19:34,520 Speaker 1: terrible loss of life in Ukraine. We are continuing to 423 00:19:34,520 --> 00:19:37,200 Speaker 1: see the relatively minor impacts of the war here in 424 00:19:37,240 --> 00:19:39,439 Speaker 1: the US, and so to that, Like many of us 425 00:19:39,440 --> 00:19:41,000 Speaker 1: have heard about the impact that the war is going 426 00:19:41,040 --> 00:19:44,000 Speaker 1: to have on wheat production, but who knew that Ukraine 427 00:19:44,000 --> 00:19:48,600 Speaker 1: also accounted fort of global palladium production. Not me. I 428 00:19:48,640 --> 00:19:51,000 Speaker 1: didn't know that until I saw the story. Uh. It 429 00:19:51,000 --> 00:19:53,840 Speaker 1: turns out that palladium is a valuable metal when it 430 00:19:53,840 --> 00:19:57,679 Speaker 1: comes to manufacturing catalytic converters, which all cars have. Uh, 431 00:19:57,720 --> 00:20:00,240 Speaker 1: And they're getting stolen off of cars, they're getting sold 432 00:20:00,240 --> 00:20:03,720 Speaker 1: to metal scrappers since the prices of palladium has skyrocketed 433 00:20:03,720 --> 00:20:05,639 Speaker 1: since the start of the war. So we wanted to 434 00:20:05,680 --> 00:20:09,480 Speaker 1: mention that story because your catalytic converter, it is at risk. 435 00:20:09,800 --> 00:20:11,520 Speaker 1: So we've got a couple of tips for you. First 436 00:20:11,560 --> 00:20:13,640 Speaker 1: of all, keep your car parked in the garage at night. 437 00:20:14,000 --> 00:20:16,119 Speaker 1: Uh if you are lucky enough to have a garage, 438 00:20:16,200 --> 00:20:17,679 Speaker 1: you don't have those in the city most of us. 439 00:20:17,840 --> 00:20:20,000 Speaker 1: Most folks don't. But you know, if you've got one 440 00:20:20,000 --> 00:20:22,399 Speaker 1: of those garages that is full of a bunch of stuff, 441 00:20:22,600 --> 00:20:24,600 Speaker 1: we would recommend for you this is a great time 442 00:20:24,640 --> 00:20:27,520 Speaker 1: to clear all that crap out of there. Listed on Facebook, 443 00:20:27,520 --> 00:20:30,000 Speaker 1: market place or donate it. But you want to clear 444 00:20:30,040 --> 00:20:31,720 Speaker 1: out all that junk and make room because it could 445 00:20:31,760 --> 00:20:34,720 Speaker 1: save you thousands of dollars plus all the headache of 446 00:20:34,800 --> 00:20:38,679 Speaker 1: having your catalytic converter saw it off like in some cases, 447 00:20:38,720 --> 00:20:40,520 Speaker 1: I mean they're cutting other wires and stuff like that too. 448 00:20:40,520 --> 00:20:42,159 Speaker 1: So not only is it just like the cost of 449 00:20:42,160 --> 00:20:44,560 Speaker 1: a catalytic converter, but there's all sorts of damage that 450 00:20:44,640 --> 00:20:46,960 Speaker 1: is happening to vehicles. Might have to get your car towed, 451 00:20:47,080 --> 00:20:50,000 Speaker 1: Additional damage could be had. You gotta protect yourself from 452 00:20:50,000 --> 00:20:51,960 Speaker 1: these thieves. And if you don't have a garage, park 453 00:20:52,040 --> 00:20:54,760 Speaker 1: in a well lit spot like Matt we we have 454 00:20:54,760 --> 00:20:56,959 Speaker 1: a side street that's pretty dark at night. We've been 455 00:20:56,960 --> 00:20:59,280 Speaker 1: parking on the front in front of our house now 456 00:20:59,359 --> 00:21:01,880 Speaker 1: because there is a street like directly above our gardens 457 00:21:01,960 --> 00:21:06,080 Speaker 1: brand new Georgia power LEDs exactly. And so it's like, 458 00:21:06,160 --> 00:21:08,520 Speaker 1: all right, yeah, at least that the places, you know, 459 00:21:08,600 --> 00:21:12,520 Speaker 1: one more hurdle in the thieves way, So do whatever 460 00:21:12,600 --> 00:21:14,960 Speaker 1: you can to protect your car, because yeah, cattle like 461 00:21:15,080 --> 00:21:18,160 Speaker 1: converter theft is on the rise, and it's something else, 462 00:21:18,200 --> 00:21:21,280 Speaker 1: Matt like, gas prices continue to remain extremely high, right 463 00:21:21,320 --> 00:21:23,720 Speaker 1: which is only spurring more and more folks to be 464 00:21:23,760 --> 00:21:28,119 Speaker 1: interested in electric vehicles. Of course, they're as Hansel was 465 00:21:28,320 --> 00:21:30,760 Speaker 1: in Zoom later. They're so hot right now. And uh, 466 00:21:30,880 --> 00:21:33,480 Speaker 1: someone in our Facebook group who lives in California posted 467 00:21:33,520 --> 00:21:37,159 Speaker 1: picks of basically seven dollar a gallon gas and and 468 00:21:37,440 --> 00:21:40,159 Speaker 1: they're asking about buying a new electric vehicle. They were like, 469 00:21:40,160 --> 00:21:41,800 Speaker 1: does it make sense for me? And you know, we 470 00:21:41,920 --> 00:21:43,680 Speaker 1: hesitate to tell someone to go buy a new car, 471 00:21:44,040 --> 00:21:47,239 Speaker 1: even though gas prices have gone insane, but we are 472 00:21:47,320 --> 00:21:50,720 Speaker 1: fans of electric vehicles already from a gas savings perspective, 473 00:21:51,000 --> 00:21:54,399 Speaker 1: from a less maintenance perspective, like they are the cars 474 00:21:54,520 --> 00:21:57,200 Speaker 1: of the future and they can save you money now. 475 00:21:57,480 --> 00:21:59,840 Speaker 1: But yeah, before you head to the new car lot 476 00:22:00,000 --> 00:22:03,160 Speaker 1: and you start test driving Tesla's or Chevy Bolts or 477 00:22:03,200 --> 00:22:05,520 Speaker 1: the new Ford Mustang whatever it is, you should really 478 00:22:05,520 --> 00:22:07,840 Speaker 1: look hard at the numbers on how much you are 479 00:22:07,880 --> 00:22:10,280 Speaker 1: spending on gas each month, because if you're a heavy 480 00:22:10,359 --> 00:22:12,960 Speaker 1: driver in a state where gas is more expensive and 481 00:22:13,040 --> 00:22:15,399 Speaker 1: EV purchase could pay off in the long run. But 482 00:22:15,480 --> 00:22:18,439 Speaker 1: don't let the current gas prices being excused to make 483 00:22:18,440 --> 00:22:21,159 Speaker 1: a poor financial decision. And Matt, you remember, I don't know, 484 00:22:21,200 --> 00:22:23,399 Speaker 1: not not terribly long ago, we had a listener who 485 00:22:23,600 --> 00:22:26,160 Speaker 1: drives a ton for work, and and he was thinking 486 00:22:26,160 --> 00:22:29,520 Speaker 1: about buying one of those expensive electric trucks, and um, 487 00:22:29,520 --> 00:22:32,159 Speaker 1: it was it was. It cost some pretty penny, But 488 00:22:32,400 --> 00:22:35,000 Speaker 1: he drives so much and he lives in a state 489 00:22:35,000 --> 00:22:37,560 Speaker 1: where gas costs so much that for him it was 490 00:22:37,560 --> 00:22:40,000 Speaker 1: actually a no brainer. But for for most people, they 491 00:22:40,000 --> 00:22:41,840 Speaker 1: have to actually run the numbers to decide whether an 492 00:22:41,840 --> 00:22:45,240 Speaker 1: electric vehicle makes sense for them or not. So much 493 00:22:45,240 --> 00:22:48,119 Speaker 1: of it depends on you know, your driving habits, that's right. 494 00:22:48,240 --> 00:22:50,880 Speaker 1: It's also important to think about used electric vehicles as well, 495 00:22:50,920 --> 00:22:53,199 Speaker 1: because you know, like older and needs on leaves, for instance, 496 00:22:53,200 --> 00:22:57,400 Speaker 1: they have plummeted in value as better looking electric vehicles 497 00:22:57,440 --> 00:23:00,359 Speaker 1: with big, bigger battery packs and better range at the market. 498 00:23:00,800 --> 00:23:04,320 Speaker 1: But often for an unloved older you know, electric vehicle 499 00:23:04,840 --> 00:23:07,680 Speaker 1: like that could be just the ticket to meaningful savings 500 00:23:07,760 --> 00:23:09,639 Speaker 1: at the pump for you. Of course, those needs on 501 00:23:09,720 --> 00:23:13,439 Speaker 1: leaves that they have much inferior range. Of course, I 502 00:23:13,480 --> 00:23:15,800 Speaker 1: get the desire to own an electric vehicle that can 503 00:23:15,840 --> 00:23:19,280 Speaker 1: do two fifty plus miles on a single charge. But 504 00:23:19,840 --> 00:23:23,000 Speaker 1: if an EV with lesser range, if that works for 505 00:23:23,000 --> 00:23:24,960 Speaker 1: you and your lifestyle and how you drive, it can 506 00:23:25,000 --> 00:23:27,040 Speaker 1: be well worth considering. Yeah, I think that's gonna be 507 00:23:27,040 --> 00:23:28,720 Speaker 1: the sweet spot for a lot of folks. Although with 508 00:23:28,800 --> 00:23:31,240 Speaker 1: huge car prices haven't gone up, and I'm sure those 509 00:23:31,280 --> 00:23:33,280 Speaker 1: huge dvs are gonna cost more and more, cost more, 510 00:23:33,359 --> 00:23:35,919 Speaker 1: right now, that's exactly the unfortunate truth. But you know, 511 00:23:36,160 --> 00:23:39,040 Speaker 1: if you run the numbers buying like a ten fift 512 00:23:39,520 --> 00:23:42,040 Speaker 1: dollar used electric vehicle, if it, you know, if you're 513 00:23:42,080 --> 00:23:46,120 Speaker 1: a daily commuter, it could massively curb your gas consumption. 514 00:23:46,160 --> 00:23:48,360 Speaker 1: It could pay for itself. But Matt, let's let's get 515 00:23:48,359 --> 00:23:51,120 Speaker 1: you another story about buy now, pay later. We've talked 516 00:23:51,160 --> 00:23:53,080 Speaker 1: about that a bunch, and it kind of continues to 517 00:23:53,119 --> 00:23:55,600 Speaker 1: be the rage despite how we feel about it. Everyone 518 00:23:55,800 --> 00:23:58,240 Speaker 1: is doing it now, everyone's getting on board. Delta Airlines 519 00:23:58,280 --> 00:24:00,440 Speaker 1: just jumped on the bandwagon to there. Now, I'm giving 520 00:24:00,640 --> 00:24:03,159 Speaker 1: folks the ability to pay for their air fare just 521 00:24:03,240 --> 00:24:04,919 Speaker 1: like you can pay for a new clothing item on 522 00:24:04,960 --> 00:24:09,360 Speaker 1: your favorite retailer's website in multiple installments. And uh yeah, 523 00:24:09,400 --> 00:24:11,520 Speaker 1: we won't belabor the point because if you've been listening 524 00:24:11,520 --> 00:24:13,320 Speaker 1: to the show for any amount of time, you know 525 00:24:13,440 --> 00:24:16,479 Speaker 1: our stance by now pay later gives folks a false 526 00:24:16,520 --> 00:24:19,840 Speaker 1: sense that they're saving money basically by just extending the 527 00:24:19,840 --> 00:24:22,520 Speaker 1: payment period out and um yeah, it allows a lot 528 00:24:22,520 --> 00:24:25,639 Speaker 1: of folks who really can't afford an item right to 529 00:24:25,680 --> 00:24:27,560 Speaker 1: buy it anyway. And so if you're trying to get 530 00:24:27,560 --> 00:24:30,000 Speaker 1: out of debt or save more money, by now pay 531 00:24:30,080 --> 00:24:32,639 Speaker 1: later is not going to help you do that, and 532 00:24:32,680 --> 00:24:35,480 Speaker 1: in fact, it might lead you into a worse financial predicament, 533 00:24:35,760 --> 00:24:38,199 Speaker 1: having more monthly payments than you actually should have. And 534 00:24:38,240 --> 00:24:40,560 Speaker 1: so yeah, you're seeing that option more and more when 535 00:24:40,600 --> 00:24:43,800 Speaker 1: you're checking out across the web, even when you're buying airfare, 536 00:24:44,080 --> 00:24:47,440 Speaker 1: and it's best, we would say, just to avoid buy now, 537 00:24:47,480 --> 00:24:50,080 Speaker 1: pay later altogether. That's right, man. And we have one 538 00:24:50,160 --> 00:24:54,199 Speaker 1: last story, a credit reporting story, because the CFPB, the 539 00:24:54,200 --> 00:24:57,919 Speaker 1: Consumer Financial Protection Bureau, they're looking to get medical debts 540 00:24:58,080 --> 00:24:59,960 Speaker 1: off of credit reports. At least that's what it's looking like. 541 00:25:00,440 --> 00:25:03,120 Speaker 1: It turns out that more than half of debt that's 542 00:25:03,119 --> 00:25:05,320 Speaker 1: gone to collections that in one way or the other, 543 00:25:05,600 --> 00:25:08,400 Speaker 1: it stems from a medical procedure. Um. You know, there's 544 00:25:08,400 --> 00:25:11,320 Speaker 1: the medical bills on your report are essentially they're gumming 545 00:25:11,359 --> 00:25:14,600 Speaker 1: up millions of consumer credit scores, leading to a real 546 00:25:14,640 --> 00:25:17,320 Speaker 1: inability to get a loan or to rent an apartment, 547 00:25:17,680 --> 00:25:20,240 Speaker 1: and it's leading to higher interest rates on car and 548 00:25:20,280 --> 00:25:23,520 Speaker 1: home loans. Medical debt, it's certainly different than credit card 549 00:25:23,560 --> 00:25:27,240 Speaker 1: debts because most medical debt occurs because of an emergency. Right, 550 00:25:27,400 --> 00:25:30,479 Speaker 1: it's involuntary. It's not necessarily something that you have chosen 551 00:25:30,520 --> 00:25:33,639 Speaker 1: to do like you would with a consumer purchase. I 552 00:25:33,640 --> 00:25:36,879 Speaker 1: can't wait for my explain to rupturepital. That exactly what 553 00:25:36,920 --> 00:25:39,119 Speaker 1: I want. Nobody is saying that, uh, and so I 554 00:25:39,119 --> 00:25:41,040 Speaker 1: think that it could make sense for the bureaus to 555 00:25:41,040 --> 00:25:43,960 Speaker 1: treat it differently. That being said, it is treated a 556 00:25:43,960 --> 00:25:47,199 Speaker 1: little bit differently. Credit bureaus. They've told collection agencies to 557 00:25:47,200 --> 00:25:52,439 Speaker 1: wait roughly six months before reporting any unpaid or delinquent bills. Essentially, 558 00:25:52,440 --> 00:25:54,439 Speaker 1: whereas with a credit like if you miss a payment 559 00:25:54,440 --> 00:25:56,440 Speaker 1: on a credit card, you see that hit your credit 560 00:25:56,440 --> 00:25:58,480 Speaker 1: port like literally the next building cycle, that the very 561 00:25:58,520 --> 00:26:00,920 Speaker 1: next month, and so it is treated a little bit differently. 562 00:26:01,160 --> 00:26:04,520 Speaker 1: It'll be interesting to see what the CFPP does, and 563 00:26:04,560 --> 00:26:06,879 Speaker 1: we'll report back if they end up changing the guidelines 564 00:26:06,920 --> 00:26:10,359 Speaker 1: on this. Personally, I don't necessarily see this as the 565 00:26:10,400 --> 00:26:14,479 Speaker 1: perfect solution. I mean, medical billing obviously it's broken, right, 566 00:26:14,520 --> 00:26:16,240 Speaker 1: it's it's broken, it's or at the very least, it's 567 00:26:16,320 --> 00:26:20,000 Speaker 1: very complex. But saying to credit bureaus that, hey, you 568 00:26:20,000 --> 00:26:22,479 Speaker 1: can't report on this at all, This isn't something that 569 00:26:22,520 --> 00:26:25,240 Speaker 1: you're allowed to share with lenders who are trying to 570 00:26:25,240 --> 00:26:28,920 Speaker 1: look at an individual's overall financial history. Like the report 571 00:26:28,960 --> 00:26:32,160 Speaker 1: shows half of all debt stems somehow from medical procedures. 572 00:26:32,200 --> 00:26:34,960 Speaker 1: How are we going to like essentially ignore that much 573 00:26:35,080 --> 00:26:37,920 Speaker 1: medical debts. I don't see this being the best solution. 574 00:26:38,080 --> 00:26:40,640 Speaker 1: I totally agree with what you're saying. You you actually 575 00:26:40,760 --> 00:26:42,200 Speaker 1: use the word and I think you're right. The first 576 00:26:42,240 --> 00:26:44,200 Speaker 1: time you said that the system is kind of broken, 577 00:26:44,240 --> 00:26:45,800 Speaker 1: and I think you're right. I think the medical billing 578 00:26:45,800 --> 00:26:49,760 Speaker 1: system is broken. The credit scoring system is kind of broken. Um. 579 00:26:49,840 --> 00:26:53,800 Speaker 1: And that actually has a massive impact on all of 580 00:26:53,800 --> 00:26:56,280 Speaker 1: our personal finances. And in one of the best ways 581 00:26:56,280 --> 00:26:59,520 Speaker 1: to approachest sadly, you have to get informed on the 582 00:26:59,560 --> 00:27:01,359 Speaker 1: health care link front, and you have to learn how 583 00:27:01,400 --> 00:27:03,760 Speaker 1: to combat the high price of healthcare in your life. 584 00:27:03,760 --> 00:27:05,760 Speaker 1: And so, um, I wishally did a whole episode on 585 00:27:05,760 --> 00:27:08,439 Speaker 1: that mat with Marshall Allen episode four oh nine. So 586 00:27:08,480 --> 00:27:10,760 Speaker 1: if you end up with a bill that you can't pay, 587 00:27:10,880 --> 00:27:12,680 Speaker 1: or even a bill that you think is unfair, there 588 00:27:12,720 --> 00:27:15,720 Speaker 1: are ways to fight back, um and and so yeah, 589 00:27:15,760 --> 00:27:18,399 Speaker 1: we would encourage everyone. That's one of my favorite episodes 590 00:27:18,440 --> 00:27:20,679 Speaker 1: that we've done, episode four oh nine with Marshall Allen. 591 00:27:20,960 --> 00:27:23,679 Speaker 1: And yeah, it impacts a whole lot of people in 592 00:27:23,720 --> 00:27:26,560 Speaker 1: this country. Um, they need his information, the information that 593 00:27:26,600 --> 00:27:29,080 Speaker 1: he's sharing. By the way, speaking of credit mat, we're 594 00:27:29,080 --> 00:27:32,640 Speaker 1: we're actually gonna demystify some myths about credit scores next 595 00:27:32,640 --> 00:27:35,359 Speaker 1: week on the show. Yeah, folks should get ready for 596 00:27:35,400 --> 00:27:38,199 Speaker 1: that on Wednesday, that's right. So we hope everyone has 597 00:27:38,240 --> 00:27:39,920 Speaker 1: a great weekend. We've got an ask how the Money 598 00:27:39,960 --> 00:27:42,919 Speaker 1: episode lined up for you? This coming Monday. We'll have 599 00:27:43,000 --> 00:27:44,879 Speaker 1: links to all the different stories and some of the 600 00:27:44,880 --> 00:27:47,280 Speaker 1: different resources we mentioned up on the website at how 601 00:27:47,280 --> 00:27:50,080 Speaker 1: to money dot com and Joel. Until next time, Best 602 00:27:50,080 --> 00:28:03,200 Speaker 1: Friends Out, Best Friends Out the umber Bo