1 00:00:00,040 --> 00:00:03,080 Speaker 1: Welcome to How to Money. I'm Joel and I'm Matt, 2 00:00:03,160 --> 00:00:05,760 Speaker 1: and today we're talking about what to do with your 3 00:00:05,880 --> 00:00:21,959 Speaker 1: tax refund. But first let's talk about Typhoon the concert. 4 00:00:22,360 --> 00:00:25,159 Speaker 1: Yeah last week, right, Yeah, so this concert that I 5 00:00:25,200 --> 00:00:27,400 Speaker 1: tried to get you to go to with me and 6 00:00:28,040 --> 00:00:29,800 Speaker 1: yeah backed out. Yeah you're old and lame and so 7 00:00:29,880 --> 00:00:32,680 Speaker 1: you didn't go. I went to see a band called Typhoon, 8 00:00:33,159 --> 00:00:36,880 Speaker 1: and I'm kind of obsessed with their music. If you 9 00:00:37,080 --> 00:00:42,959 Speaker 1: like incredibly introspective lyrics and fun band. Typhoons definitely wanted 10 00:00:42,960 --> 00:00:45,120 Speaker 1: to check out. They're out of Portland, organ fun band 11 00:00:45,120 --> 00:00:48,000 Speaker 1: with like ten or twelve members. Yeah, and so they 12 00:00:48,120 --> 00:00:50,200 Speaker 1: used to have eleven members, I think, and now they're 13 00:00:50,240 --> 00:00:53,040 Speaker 1: down to seven. I don't know the four of them. Yeah. 14 00:00:52,560 --> 00:00:54,680 Speaker 1: Well maybe it just gets too hard to do the 15 00:00:54,720 --> 00:00:57,120 Speaker 1: traveling with that, ye guess, and try to travel with 16 00:00:57,160 --> 00:00:59,520 Speaker 1: eleven guys on the road. But they sounded guys and 17 00:00:59,560 --> 00:01:03,080 Speaker 1: girls so good. They were so good it was a blast. Yeah, 18 00:01:03,080 --> 00:01:05,959 Speaker 1: we went and saw them two three years ago. Yeah, 19 00:01:06,800 --> 00:01:09,039 Speaker 1: how did it compare that? That show? So I think 20 00:01:09,080 --> 00:01:11,800 Speaker 1: they were musically a little bit tighter, but they lost 21 00:01:11,840 --> 00:01:13,920 Speaker 1: a little bit of that element of when they were 22 00:01:13,920 --> 00:01:16,440 Speaker 1: an eleven piece band, and so oh they lost their 23 00:01:16,440 --> 00:01:19,160 Speaker 1: horn section. That's why they lost the horn section. They 24 00:01:19,240 --> 00:01:21,680 Speaker 1: had all the horns on the on the last album. Yeah, 25 00:01:21,680 --> 00:01:23,640 Speaker 1: and you know how they used to kind of sing 26 00:01:23,640 --> 00:01:26,240 Speaker 1: in Unison more together and there was a lot less 27 00:01:26,240 --> 00:01:28,320 Speaker 1: of that going on all the group sing Yeah, so 28 00:01:28,440 --> 00:01:30,360 Speaker 1: shouting at the same clapping and all and stuff, and 29 00:01:30,360 --> 00:01:32,319 Speaker 1: so people are probably like, what is this weird band 30 00:01:32,360 --> 00:01:36,400 Speaker 1: with horns and group singing as so up beaten? Yeah, 31 00:01:36,400 --> 00:01:38,400 Speaker 1: it was a lot of fun. Yeah, I definitely enjoyed it. 32 00:01:39,120 --> 00:01:41,160 Speaker 1: Enjoyed it last well, last time we went and saw them. 33 00:01:41,240 --> 00:01:42,880 Speaker 1: So maybe we'll put a link in the show notes 34 00:01:42,920 --> 00:01:44,920 Speaker 1: to and what if we can get what if we 35 00:01:44,920 --> 00:01:47,120 Speaker 1: could use one of their songs for our song intro. 36 00:01:48,240 --> 00:01:50,680 Speaker 1: I think we could do that. We'd have to reach 37 00:01:50,680 --> 00:01:53,000 Speaker 1: out to them, but they'd be cool. I don't know, man, 38 00:01:53,800 --> 00:01:57,360 Speaker 1: I think it'd be awesome either that or like something 39 00:01:57,400 --> 00:01:59,560 Speaker 1: more Atlanta. I feel like if you could get get 40 00:01:59,560 --> 00:02:04,920 Speaker 1: some outre John Mayer. Yeah, he's Atlanta. He's Atlanta, and 41 00:02:04,920 --> 00:02:08,040 Speaker 1: I hate him, so I don't know if that probably not, well, 42 00:02:08,120 --> 00:02:10,640 Speaker 1: well we'll rule John Mayer out. Yeah, it only it 43 00:02:10,639 --> 00:02:13,480 Speaker 1: would only take like a few seconds of just one 44 00:02:13,480 --> 00:02:16,320 Speaker 1: of their one of their songs, just some nice instrumental 45 00:02:16,560 --> 00:02:20,160 Speaker 1: like a lot of Typhoon is instrumental. Yeah, So I 46 00:02:19,520 --> 00:02:22,400 Speaker 1: don't I would be a boy. Don't you think your 47 00:02:22,400 --> 00:02:24,600 Speaker 1: Body is a Wonderland? Would just fit in with this podcast? 48 00:02:24,600 --> 00:02:27,160 Speaker 1: Though I think everyone's like yes, Actually, that's what's been 49 00:02:27,160 --> 00:02:29,959 Speaker 1: missing from this podcast, is your Body as a Wonderland? 50 00:02:29,960 --> 00:02:33,400 Speaker 1: As the intro. Just just mull over it. You don't 51 00:02:33,400 --> 00:02:34,720 Speaker 1: have to say yes or no right now, just think 52 00:02:34,760 --> 00:02:36,880 Speaker 1: about it. Yeah, I'll think about it while I'm in 53 00:02:36,880 --> 00:02:40,079 Speaker 1: the shower because that's when I get all my great ideas. Yeah, 54 00:02:40,160 --> 00:02:42,079 Speaker 1: I'm not thinking of anything, all right, So we'll check 55 00:02:42,080 --> 00:02:44,000 Speaker 1: that out. And I think I'm gonna think the exact 56 00:02:44,000 --> 00:02:46,240 Speaker 1: same thing that I think now, which is no. And 57 00:02:46,280 --> 00:02:48,800 Speaker 1: if you have a suggestion, if you even want us 58 00:02:48,800 --> 00:02:51,080 Speaker 1: to change our intro, I personally like our intro right now, 59 00:02:51,120 --> 00:02:52,640 Speaker 1: and the only thing that would make it better would 60 00:02:52,639 --> 00:02:55,400 Speaker 1: be John Mayor's Your Body is a Wonderland. But we'll 61 00:02:55,400 --> 00:02:57,800 Speaker 1: see where Matt Land's on that. Feel free to tweet 62 00:02:57,880 --> 00:03:00,400 Speaker 1: us at not Poor Matt at not Poor Joel on 63 00:03:00,440 --> 00:03:03,240 Speaker 1: Twitter and tell us what songs you think might go 64 00:03:03,320 --> 00:03:06,400 Speaker 1: well in our intro. Also, thanks for the iTunes reviews. 65 00:03:06,400 --> 00:03:09,600 Speaker 1: A lot of folks have been been giving us fantastically 66 00:03:09,680 --> 00:03:12,640 Speaker 1: kind reviews on iTunes. We're thankful for that. And wherever 67 00:03:12,720 --> 00:03:15,400 Speaker 1: you listen to podcasts, if you're listening on Stitcher or 68 00:03:15,800 --> 00:03:19,839 Speaker 1: through Apple Podcasts or wherever whatever app you're using, if 69 00:03:19,880 --> 00:03:22,200 Speaker 1: you want to leave a kind review about the podcast, 70 00:03:22,200 --> 00:03:26,119 Speaker 1: we'd appreciate it. Now, onto the beer, because I'm poorn 71 00:03:26,200 --> 00:03:28,120 Speaker 1: up poor. Every episode, Matt and I crack a beer 72 00:03:28,160 --> 00:03:30,400 Speaker 1: and then we talk about money, something money related. You 73 00:03:30,440 --> 00:03:33,200 Speaker 1: brought our beer today and I know it's a Westbrook 74 00:03:33,560 --> 00:03:36,720 Speaker 1: but other than that, you said it's a sour. I'll 75 00:03:36,760 --> 00:03:38,600 Speaker 1: read what it says on the label. It's called joy 76 00:03:39,160 --> 00:03:41,840 Speaker 1: j oi E is the name of the beer by Westbrook. 77 00:03:41,960 --> 00:03:46,720 Speaker 1: They're out of Mount Pleasant, South Carolina, basically Charleston. Have 78 00:03:46,800 --> 00:03:49,920 Speaker 1: you ever been there? Yes, although I haven't been to Westbrook, 79 00:03:49,960 --> 00:03:52,520 Speaker 1: I've been to Mount Pleasant, but I don't care about 80 00:03:52,920 --> 00:03:55,240 Speaker 1: I skipped Westbrooks I'm talking about. Yeah, I'm talking about 81 00:03:55,240 --> 00:03:57,840 Speaker 1: what Westbrook. I feel like I went to another brewery 82 00:03:57,840 --> 00:04:00,720 Speaker 1: while I was there instead, maybe or no, just a 83 00:04:00,720 --> 00:04:03,600 Speaker 1: great beer bar, I think. But okay, So here's how 84 00:04:03,600 --> 00:04:08,200 Speaker 1: Westbrook describes this beer mixed fermentation Sayson style ale, aged 85 00:04:08,240 --> 00:04:12,760 Speaker 1: one year in soft turns barrels, saw turns. Is that 86 00:04:12,760 --> 00:04:17,840 Speaker 1: how you said that? Yeah? Of course, so yeah, So 87 00:04:17,839 --> 00:04:20,720 Speaker 1: soft Turns is a French I don't even I don't 88 00:04:20,720 --> 00:04:22,000 Speaker 1: know if I'm saying that right, but it's a French 89 00:04:22,000 --> 00:04:24,680 Speaker 1: sweet wine. It's a white wine. It's got like some 90 00:04:24,760 --> 00:04:28,400 Speaker 1: lighter fruit flavors like apricots and maybe some peach as well. 91 00:04:29,560 --> 00:04:34,080 Speaker 1: So this is age then in soft turn soft turned barrels. Yeah, 92 00:04:34,480 --> 00:04:37,200 Speaker 1: obviously I'm not cultured and sophisticated enough to know that. 93 00:04:37,279 --> 00:04:42,200 Speaker 1: So cheers. That smells amazing. My mouth is starting to 94 00:04:42,320 --> 00:04:45,760 Speaker 1: sort of pucker in water just smelling it. Oh wow, 95 00:04:46,440 --> 00:04:50,600 Speaker 1: way sweeter than I was expecting. Really, it's funny. It's 96 00:04:50,600 --> 00:04:53,479 Speaker 1: like way less sour than I was expecting from based 97 00:04:53,520 --> 00:04:56,680 Speaker 1: on the nose. Yeah, and I'm not getting an overwhelming sweetness, 98 00:04:56,720 --> 00:04:59,480 Speaker 1: but it's like a it's a almost like a honey 99 00:05:00,000 --> 00:05:03,400 Speaker 1: swetness to me. Definitely, I'm getting some honey. I'm getting 100 00:05:03,440 --> 00:05:06,719 Speaker 1: some honey. And it also like a thicker is heavier sweetness. 101 00:05:07,160 --> 00:05:09,560 Speaker 1: It's it's thicker beer and it almost has like a 102 00:05:09,640 --> 00:05:11,920 Speaker 1: half of as any quality to it, like a wheat, 103 00:05:12,160 --> 00:05:15,719 Speaker 1: a wheat thickness to the body. I wasn't expecting that, 104 00:05:15,720 --> 00:05:20,800 Speaker 1: but it's really tasty. It poured like a hazy, hazy gold. 105 00:05:21,040 --> 00:05:23,920 Speaker 1: But I agree, it's not nearly as bright and and 106 00:05:24,000 --> 00:05:27,200 Speaker 1: sour or tart as I was expecting it. As you 107 00:05:27,240 --> 00:05:28,680 Speaker 1: kind of let it roll back off your tongue and 108 00:05:28,960 --> 00:05:32,360 Speaker 1: you you finish the sip, you kind of I feel 109 00:05:32,400 --> 00:05:33,880 Speaker 1: like the complexity kind of starts to hit you a 110 00:05:33,880 --> 00:05:36,680 Speaker 1: little bit. Thanks for grabbing this one, man, This is delicious. 111 00:05:37,320 --> 00:05:38,919 Speaker 1: You got it. Yeah, a little switch up. I like 112 00:05:38,960 --> 00:05:41,360 Speaker 1: what Westbrook's doing and they kind of coming out with 113 00:05:41,400 --> 00:05:43,440 Speaker 1: some new stuff lately. So this is a great beer 114 00:05:43,440 --> 00:05:45,800 Speaker 1: for today too. It's warmer today. I was able to 115 00:05:45,800 --> 00:05:48,800 Speaker 1: get out on the bike some oh nice, had some 116 00:05:48,800 --> 00:05:50,800 Speaker 1: some business errands to run, and was able to keep 117 00:05:50,800 --> 00:05:52,800 Speaker 1: it in the neighborhood. Ended up being a beautiful day. 118 00:05:52,880 --> 00:05:55,560 Speaker 1: Oh yeah, yeah, absolutely, and it was great. You posted 119 00:05:55,600 --> 00:05:58,520 Speaker 1: about that on our Instagram account, which yeah, you can 120 00:05:58,560 --> 00:06:02,720 Speaker 1: follow at Poor not Poor on Instagram. And Matt's a photographer. 121 00:06:02,800 --> 00:06:05,680 Speaker 1: So I'll tell you what for, I guarantee you we 122 00:06:05,720 --> 00:06:09,680 Speaker 1: have the best Instagram of any financial blog. Slash podcast 123 00:06:09,680 --> 00:06:13,360 Speaker 1: out there. It looks really good. Thanks buddy. All right, 124 00:06:13,440 --> 00:06:16,080 Speaker 1: so onto the topic in hand, what should you do 125 00:06:16,160 --> 00:06:18,919 Speaker 1: with your tax refund? Yeah, and first I wanted to 126 00:06:18,960 --> 00:06:24,360 Speaker 1: thank uh Donnie on on our Facebook group. Actually he mentioned, uh, well, 127 00:06:24,400 --> 00:06:26,240 Speaker 1: he kind of gives the inspiration to do this this 128 00:06:26,360 --> 00:06:29,000 Speaker 1: topic right right. His question was, what should you do 129 00:06:29,120 --> 00:06:32,479 Speaker 1: if you get a spare, like a random thousand dollars? Yeah, 130 00:06:32,600 --> 00:06:34,400 Speaker 1: and he called it the community chess right like from 131 00:06:34,440 --> 00:06:39,640 Speaker 1: Monopoly Total Total board game, which is so, I mean, 132 00:06:39,680 --> 00:06:42,600 Speaker 1: pretty awesome since it was a recent episode. Yeah, yeah, 133 00:06:42,600 --> 00:06:45,159 Speaker 1: we had that episode out a couple couple episodes ago, 134 00:06:45,279 --> 00:06:49,960 Speaker 1: so good timing. And yeah, Donnie thinks. And the average 135 00:06:50,160 --> 00:06:53,680 Speaker 1: tax refund in America is three thousand dollars. So let's 136 00:06:53,720 --> 00:06:56,120 Speaker 1: say you've been you've been working all year, and you 137 00:06:56,160 --> 00:06:58,719 Speaker 1: have a normal job. So we'll get to abnormal jobs 138 00:06:58,760 --> 00:07:01,280 Speaker 1: a little bit later on. But most people who work 139 00:07:01,320 --> 00:07:03,680 Speaker 1: a normal job end up not withholding enough money, and 140 00:07:03,720 --> 00:07:06,880 Speaker 1: so essentially the government has to end up giving you 141 00:07:07,000 --> 00:07:09,560 Speaker 1: back some of those dollars at the end of the year. 142 00:07:09,600 --> 00:07:13,080 Speaker 1: And so most people an average tax return, they would 143 00:07:13,080 --> 00:07:15,360 Speaker 1: get three thousand dollars back at the end of the year. 144 00:07:16,120 --> 00:07:19,480 Speaker 1: On their taxes. And so if you are one of 145 00:07:19,520 --> 00:07:21,960 Speaker 1: those people, the majority of people, you know, some people 146 00:07:22,040 --> 00:07:24,240 Speaker 1: might be getting twelve hundred, some people might be getting 147 00:07:24,280 --> 00:07:27,480 Speaker 1: forty five hundred, but three thousands of the average. What 148 00:07:27,600 --> 00:07:30,000 Speaker 1: should you do with that money? Yeah, well, first of all, 149 00:07:30,120 --> 00:07:33,720 Speaker 1: let's just state that that's too much, right, Yes, I mean, 150 00:07:33,880 --> 00:07:37,040 Speaker 1: ideally you would be getting back nothing. If if we 151 00:07:37,080 --> 00:07:39,440 Speaker 1: lived in a perfect world and our tax system was 152 00:07:39,480 --> 00:07:44,280 Speaker 1: set up super incredibly efficiently, we would be tax the 153 00:07:44,360 --> 00:07:48,640 Speaker 1: perfect amount. The government, the federal government and state government. 154 00:07:48,680 --> 00:07:51,520 Speaker 1: You know, they would each get the proper amount of 155 00:07:51,520 --> 00:07:54,080 Speaker 1: money taxes from you, and at the end of the 156 00:07:54,160 --> 00:07:58,080 Speaker 1: year they would say thank you, and you wouldn't get 157 00:07:58,560 --> 00:08:01,640 Speaker 1: a refund, nor would you owe if you paid if 158 00:08:01,640 --> 00:08:05,120 Speaker 1: you underpaid. Yeah, that'd be awesome, perfect world. I'd love that. 159 00:08:05,520 --> 00:08:06,840 Speaker 1: But and you don't have to worry about any of 160 00:08:06,840 --> 00:08:09,160 Speaker 1: that stuff, and you know, how much am I getting 161 00:08:09,200 --> 00:08:10,920 Speaker 1: back and or how much do I have to pay? 162 00:08:11,040 --> 00:08:13,360 Speaker 1: And and it would just like be coming out of 163 00:08:13,360 --> 00:08:17,000 Speaker 1: your paycheck like clockwork and perfectly. Yeah, So I guess 164 00:08:17,280 --> 00:08:19,040 Speaker 1: I mean I say that because I want to sort 165 00:08:19,040 --> 00:08:20,840 Speaker 1: of push back against the notion like a lot of 166 00:08:20,880 --> 00:08:22,840 Speaker 1: people think they're like, oh yeah, I got my tax 167 00:08:22,840 --> 00:08:25,640 Speaker 1: FI fund showing up. It's something that they count on. 168 00:08:25,960 --> 00:08:29,040 Speaker 1: It's something that folks are just used to it. And 169 00:08:30,040 --> 00:08:31,560 Speaker 1: I want to push back against that a little bit 170 00:08:31,600 --> 00:08:33,880 Speaker 1: and say, don't get don't be used to that. That's 171 00:08:33,920 --> 00:08:37,080 Speaker 1: that's money that is yours that the government's just holding 172 00:08:37,120 --> 00:08:39,240 Speaker 1: on to. And by the way, can I just say 173 00:08:39,320 --> 00:08:42,440 Speaker 1: that if there is a robot that makes sushi, and 174 00:08:42,520 --> 00:08:44,920 Speaker 1: if Elon Musk can send a rocket into space with 175 00:08:44,960 --> 00:08:47,320 Speaker 1: a Tesla inside of it, how can the government not 176 00:08:47,400 --> 00:08:49,760 Speaker 1: get that right? You would think like, if that's the 177 00:08:49,800 --> 00:08:52,560 Speaker 1: society we live in, that that's that should be happening, 178 00:08:52,800 --> 00:08:54,520 Speaker 1: that we should be able to get that paycheck thing 179 00:08:54,600 --> 00:08:56,240 Speaker 1: right and the and the tax is coming out of 180 00:08:56,280 --> 00:09:00,920 Speaker 1: it properly allocated. But what's this robot sushi? I've never heard. 181 00:09:01,000 --> 00:09:02,920 Speaker 1: Oh yeah, well there's a sushi making robot. It can 182 00:09:02,960 --> 00:09:05,480 Speaker 1: make four times as much sushi in an hour as 183 00:09:05,480 --> 00:09:08,000 Speaker 1: a human being. Have you seen the that You've seen 184 00:09:08,000 --> 00:09:10,880 Speaker 1: the documentary right, euro Dreams, Your Dreams of the Dreams 185 00:09:10,920 --> 00:09:14,800 Speaker 1: of Sushi. Yes, amazing documentary on Netflix. He's like a 186 00:09:14,880 --> 00:09:18,800 Speaker 1: human with the feelings of a robot. Yeah, so tax refund. 187 00:09:19,360 --> 00:09:22,439 Speaker 1: A couple of reasons why you should endeavor not to 188 00:09:22,520 --> 00:09:24,319 Speaker 1: have a tax refund. I think I think there's a 189 00:09:24,320 --> 00:09:28,400 Speaker 1: couple of reasons. One is like rampant identity theft these days, 190 00:09:28,400 --> 00:09:30,920 Speaker 1: and so there are criminals out there trying to file 191 00:09:31,000 --> 00:09:34,079 Speaker 1: tax returns as if they're you, and if you are, 192 00:09:34,240 --> 00:09:38,480 Speaker 1: do a refund, and the criminal steals that refund, it 193 00:09:38,559 --> 00:09:41,000 Speaker 1: could be up to eighteen months before you actually see 194 00:09:41,000 --> 00:09:44,600 Speaker 1: that money. And so you should so long, yeah, so long, 195 00:09:44,640 --> 00:09:47,520 Speaker 1: And so you should file your taxes early, and you 196 00:09:47,559 --> 00:09:51,040 Speaker 1: should endeavor not to have a refund. It's another. And 197 00:09:51,080 --> 00:09:54,040 Speaker 1: then just and then just budget accordingly as you get 198 00:09:54,040 --> 00:09:56,440 Speaker 1: extra money in your paycheck. So if you're let's say 199 00:09:56,440 --> 00:09:59,480 Speaker 1: you're used to getting three thousand dollars back like the 200 00:09:59,520 --> 00:10:02,800 Speaker 1: average American, at the end of the year, after you 201 00:10:02,840 --> 00:10:06,120 Speaker 1: file your taxes, change your withholding, so you're getting more 202 00:10:06,160 --> 00:10:09,199 Speaker 1: money back in every paycheck and hopefully endeavoring to make 203 00:10:09,240 --> 00:10:11,640 Speaker 1: that as close to zero as possible. I guess my 204 00:10:11,679 --> 00:10:13,520 Speaker 1: thought too, is that so there's all all these sort 205 00:10:13,559 --> 00:10:16,040 Speaker 1: of different banking products like a I mean, you've heard 206 00:10:16,040 --> 00:10:19,280 Speaker 1: of acorns and some of these other other things. It's 207 00:10:19,320 --> 00:10:23,520 Speaker 1: almost it's almost like that where it's like the government 208 00:10:23,600 --> 00:10:27,040 Speaker 1: just takes a little more every every week, every two weeks, 209 00:10:27,040 --> 00:10:30,120 Speaker 1: every month or whatever that you don't notice, and then 210 00:10:30,800 --> 00:10:34,560 Speaker 1: a year later or cometime, when it's April, then all 211 00:10:34,559 --> 00:10:36,040 Speaker 1: of a sudden, you've kind of got this little saved 212 00:10:36,080 --> 00:10:37,840 Speaker 1: up thing. What would you say to folks then that 213 00:10:38,280 --> 00:10:41,760 Speaker 1: are kind to use it as a tool like that, Yeah, 214 00:10:41,760 --> 00:10:43,720 Speaker 1: I mean I would. I would recommend that they that 215 00:10:43,760 --> 00:10:45,839 Speaker 1: they change it and they put that into their they 216 00:10:45,920 --> 00:10:47,240 Speaker 1: you know, they take home a little more money in 217 00:10:47,280 --> 00:10:50,840 Speaker 1: their paycheck every week and uh and then budget accordingly 218 00:10:50,880 --> 00:10:53,480 Speaker 1: put their money towards something that that's better off. Because 219 00:10:54,240 --> 00:10:56,920 Speaker 1: the windfall is fun and in a perfect world, even 220 00:10:56,960 --> 00:11:00,640 Speaker 1: it's it's a it's a good forced method of savings 221 00:11:00,960 --> 00:11:03,400 Speaker 1: if you're actually gonna use it in that way. And 222 00:11:03,600 --> 00:11:05,079 Speaker 1: you know, there's a lot of people and that's why 223 00:11:05,120 --> 00:11:06,719 Speaker 1: we're gonna we're doing this podcast. There's a lot of 224 00:11:06,720 --> 00:11:08,400 Speaker 1: people that aren't going to get a big The right 225 00:11:08,600 --> 00:11:12,199 Speaker 1: word is not windfall, because it's your money coming back 226 00:11:12,240 --> 00:11:15,040 Speaker 1: to you. And but there's a lot of reasons that 227 00:11:15,120 --> 00:11:16,920 Speaker 1: you should be getting that money every month and not 228 00:11:16,960 --> 00:11:19,240 Speaker 1: in one lump sum. And again, like I said, I 229 00:11:19,280 --> 00:11:21,280 Speaker 1: don't put much stock in the you're giving a zero 230 00:11:21,360 --> 00:11:23,920 Speaker 1: percent loan to the government, But I think the main 231 00:11:23,960 --> 00:11:25,520 Speaker 1: two things, so you got to be worried about potentially 232 00:11:25,640 --> 00:11:27,560 Speaker 1: dentity theft, and you got to be worried about blowing 233 00:11:27,600 --> 00:11:30,000 Speaker 1: it all on a vacation or something like that. And 234 00:11:30,080 --> 00:11:32,800 Speaker 1: so I think if you're getting in one lop sum, 235 00:11:32,840 --> 00:11:35,679 Speaker 1: sometimes you're more likely to say, I feel like you 236 00:11:35,720 --> 00:11:39,760 Speaker 1: want the lottery and blow the money in a matter 237 00:11:39,760 --> 00:11:42,839 Speaker 1: of weeks and then regret it. What's the biggest refund 238 00:11:42,880 --> 00:11:45,079 Speaker 1: you've ever gotten? Have you ever gotten a A pretty 239 00:11:45,080 --> 00:11:49,600 Speaker 1: big chunk? Yeah, like five thousand? Really? Yeah, that's pretty Uh, 240 00:11:49,640 --> 00:11:52,400 Speaker 1: that is I guess that is kind of nice, but 241 00:11:52,480 --> 00:11:56,280 Speaker 1: maybe not. It feels good because it's not something that 242 00:11:56,320 --> 00:11:59,200 Speaker 1: I budgeted. And usually we're we try to be really wise, 243 00:12:00,280 --> 00:12:03,280 Speaker 1: payoff debt if we've got a little bit, or put 244 00:12:03,320 --> 00:12:05,880 Speaker 1: it towards something positive, like an investment of some sort. 245 00:12:06,440 --> 00:12:08,880 Speaker 1: Those are usually the two ways that we consider using it. 246 00:12:09,400 --> 00:12:11,920 Speaker 1: But the risks have just certainly changed in the past 247 00:12:11,960 --> 00:12:15,120 Speaker 1: few years with rampant identity theft. Is it really that 248 00:12:15,200 --> 00:12:17,719 Speaker 1: bad you've mentioned a few times now, Yeah, it's pretty bad. 249 00:12:17,760 --> 00:12:21,120 Speaker 1: It's pretty bad. There's uh, the I R S is 250 00:12:21,120 --> 00:12:24,960 Speaker 1: is depleted in their in their staffing, there are far 251 00:12:25,040 --> 00:12:27,000 Speaker 1: fewer I R S workers and their veter that's just 252 00:12:27,080 --> 00:12:29,760 Speaker 1: kind of slipped them through, or folks are filing fraudulent 253 00:12:29,880 --> 00:12:32,560 Speaker 1: returns and yeah, so there's like two snatching up your 254 00:12:33,200 --> 00:12:36,800 Speaker 1: your your refund basically. Yeah, and there's positives and negatives 255 00:12:36,840 --> 00:12:40,840 Speaker 1: to it. So there you know, there's fewer people getting audited, 256 00:12:41,440 --> 00:12:44,160 Speaker 1: So there's people that are that are pumped that they 257 00:12:44,160 --> 00:12:45,520 Speaker 1: don't have to deal with an I R S audit. 258 00:12:45,559 --> 00:12:47,760 Speaker 1: But on the flip side, they also just don't have 259 00:12:47,800 --> 00:12:51,679 Speaker 1: the the the human power at the at the I 260 00:12:51,760 --> 00:12:55,080 Speaker 1: R S headquarters to shut down some of the identity thieves. 261 00:12:55,160 --> 00:12:58,559 Speaker 1: And I think they've gotten just a little bit better 262 00:12:58,679 --> 00:13:02,200 Speaker 1: as of last year, but it's still it's still been 263 00:13:02,240 --> 00:13:04,640 Speaker 1: tricky for them to put the kibosh on. And so 264 00:13:05,679 --> 00:13:08,200 Speaker 1: to me, that's the biggest reason not to get a refund. 265 00:13:08,280 --> 00:13:10,240 Speaker 1: Even if it was the perfect world in which you 266 00:13:10,320 --> 00:13:14,280 Speaker 1: didn't have the IRS taking the exact amount of a month. 267 00:13:14,360 --> 00:13:18,000 Speaker 1: But let's say there was no identity theft, then I 268 00:13:18,000 --> 00:13:20,079 Speaker 1: would say, whatever, go for it, get as big of 269 00:13:20,080 --> 00:13:21,680 Speaker 1: a refund as you want and make that a forced 270 00:13:21,679 --> 00:13:23,920 Speaker 1: method of savings. You know, if you're going to use it, well, 271 00:13:24,440 --> 00:13:28,560 Speaker 1: but it's not so worry about it and make sure 272 00:13:28,679 --> 00:13:30,640 Speaker 1: that that money's not getting held up for eighteen months 273 00:13:30,640 --> 00:13:33,760 Speaker 1: as the irs sorts through things with their limited staff. Yeah, 274 00:13:33,800 --> 00:13:36,599 Speaker 1: five thousand though, that's a lot. Man. One year, we 275 00:13:37,080 --> 00:13:39,720 Speaker 1: never got a refund that big, but we owed we 276 00:13:39,840 --> 00:13:42,920 Speaker 1: like underpaid the whole year. Those are like early on 277 00:13:42,960 --> 00:13:45,880 Speaker 1: in our business, and we ended up having to owe 278 00:13:45,920 --> 00:13:50,640 Speaker 1: like six grand. Yeah, that was we're doing our taxes 279 00:13:50,679 --> 00:13:53,560 Speaker 1: wrong at the beginning there. But that is way less 280 00:13:53,600 --> 00:13:56,480 Speaker 1: fun than receiving five grand. Trust me, that's got to 281 00:13:56,480 --> 00:13:58,240 Speaker 1: feel like a punch to the stomach when you see 282 00:13:58,280 --> 00:14:01,400 Speaker 1: that email from your accountant or or whether you're doing 283 00:14:01,400 --> 00:14:04,240 Speaker 1: TurboTax what they're doing. They were super hesitant. They're like, oh, 284 00:14:05,040 --> 00:14:09,960 Speaker 1: I'm so sorry, but you actually owe like six thousand 285 00:14:10,000 --> 00:14:12,520 Speaker 1: dollars this year, and that's when you sold your firstborn 286 00:14:12,640 --> 00:14:17,840 Speaker 1: child to Skins. And that's when you sold your firstborn 287 00:14:17,880 --> 00:14:21,720 Speaker 1: child to runfele Stilt Skin. So, Matt, let's say we're 288 00:14:21,720 --> 00:14:24,040 Speaker 1: talking to most folks. Yeah, so yeah, we've got that 289 00:14:24,080 --> 00:14:26,240 Speaker 1: out of the way right, Like, yes, you shouldn't have 290 00:14:27,040 --> 00:14:29,240 Speaker 1: a refund, but say, say you did, And that's what 291 00:14:29,240 --> 00:14:30,880 Speaker 1: we're gonna spend the rest of the podcast talking about 292 00:14:31,000 --> 00:14:33,520 Speaker 1: is if you do have a big refund, what should 293 00:14:33,560 --> 00:14:35,800 Speaker 1: you do with it? Yep? So the first thing, Matt, 294 00:14:35,840 --> 00:14:38,200 Speaker 1: what's your take? What's the first thing someone should consider 295 00:14:38,240 --> 00:14:40,320 Speaker 1: doing if they're getting a big chunk of money after 296 00:14:40,400 --> 00:14:43,160 Speaker 1: tax time? Well? Yeah, the first thing that folks need 297 00:14:43,200 --> 00:14:45,720 Speaker 1: to do is look at the payments that they're making, 298 00:14:45,840 --> 00:14:49,160 Speaker 1: and if you have any outstanding debt, you need to 299 00:14:49,280 --> 00:14:52,560 Speaker 1: really consider paying that off. And we're not talking about, 300 00:14:52,680 --> 00:14:55,200 Speaker 1: say necessarily more a mortgage, right, Like we've got a 301 00:14:55,200 --> 00:14:58,120 Speaker 1: mortgage at three and a half percent, we're not in 302 00:14:58,200 --> 00:15:00,560 Speaker 1: any rush to pay that off because that's really low rate. 303 00:15:00,560 --> 00:15:02,160 Speaker 1: But if you've got consumer debt, if you've got a 304 00:15:02,560 --> 00:15:05,680 Speaker 1: credit card debt, if you've got a car payment these days, 305 00:15:05,720 --> 00:15:10,000 Speaker 1: anything close to double digits, you need to get rid of. Yes, right, agreed. 306 00:15:10,080 --> 00:15:12,720 Speaker 1: And for most people out there, it's gonna be credit 307 00:15:12,720 --> 00:15:15,360 Speaker 1: card debt. It's going to be eighteen seventeen, twenty two 308 00:15:15,440 --> 00:15:18,840 Speaker 1: percent credit card debt, oh goshchah. And so if you're 309 00:15:18,840 --> 00:15:20,880 Speaker 1: one of those people that's got credit card debt hanging 310 00:15:20,920 --> 00:15:24,480 Speaker 1: on you should truly consider putting every penny of this 311 00:15:24,560 --> 00:15:27,720 Speaker 1: tax refund in a lump sum towards that credit card bill. 312 00:15:28,280 --> 00:15:31,200 Speaker 1: That would be the in most you know, we'd have. 313 00:15:31,840 --> 00:15:35,760 Speaker 1: We're not gonna look at everyone's financial status individually, but 314 00:15:35,960 --> 00:15:38,920 Speaker 1: that's most likely where you're gonna get the most bang 315 00:15:38,960 --> 00:15:41,520 Speaker 1: for your buck. Yeah. And what's great about that too, man, 316 00:15:41,600 --> 00:15:44,560 Speaker 1: is that it's guaranteed, rightight, Like you can say that like, oh, 317 00:15:44,560 --> 00:15:46,040 Speaker 1: I've got all this money, now let me see if 318 00:15:46,080 --> 00:15:47,800 Speaker 1: I can go and invest it or do something kind 319 00:15:47,800 --> 00:15:50,160 Speaker 1: of fun with it or kind of be smart about it. Well, 320 00:15:50,680 --> 00:15:54,040 Speaker 1: that's great, and that might work out. But let's say 321 00:15:54,080 --> 00:15:57,000 Speaker 1: you've got a twelve percent payment. Let's say you've got 322 00:15:57,000 --> 00:15:59,480 Speaker 1: payments going towards something that's got like a rate at 323 00:15:59,520 --> 00:16:01,720 Speaker 1: twelve percent. Well, if you pay that down, you're guaranteeing 324 00:16:01,760 --> 00:16:04,680 Speaker 1: yourself that you're gonna get twelve percent. By paying that off, 325 00:16:04,720 --> 00:16:07,800 Speaker 1: you're essentially saving twelve percent, which is the equivalent of 326 00:16:07,840 --> 00:16:10,640 Speaker 1: making twelve percent. Right, And there's pretty much nowhere in 327 00:16:10,680 --> 00:16:12,240 Speaker 1: this world that you can go and get a guaranteed 328 00:16:12,280 --> 00:16:15,920 Speaker 1: twelve percent return. There's nowhere certainly some risky endeavors you 329 00:16:15,960 --> 00:16:19,320 Speaker 1: can you could partake in that the promise to attorney 330 00:16:19,360 --> 00:16:21,880 Speaker 1: that or you would hope to make that, but it's 331 00:16:21,920 --> 00:16:24,920 Speaker 1: on nine percent guarantee though, right, pay it off, yep, 332 00:16:25,280 --> 00:16:27,320 Speaker 1: be done with it. And if you have a twelve 333 00:16:27,320 --> 00:16:30,280 Speaker 1: percent rate, you'd likely have a fantastic credit card through 334 00:16:30,320 --> 00:16:32,120 Speaker 1: the credit union. That's a really low rate on a 335 00:16:32,160 --> 00:16:34,000 Speaker 1: credit card. So most people it's going to be in 336 00:16:34,040 --> 00:16:36,400 Speaker 1: the upper teen's, low twenties. It's gonna be a lot 337 00:16:36,480 --> 00:16:38,640 Speaker 1: higher than that. So and so the number one thing 338 00:16:38,680 --> 00:16:43,200 Speaker 1: you can do with this tax refund high interest rate debt, Yeah, 339 00:16:43,840 --> 00:16:46,320 Speaker 1: tackle that first. Yeah. Then so after that, then what 340 00:16:46,320 --> 00:16:49,840 Speaker 1: would you suggest as next? So I think the next thing, 341 00:16:49,920 --> 00:16:51,840 Speaker 1: let's say you know you've gotten rid of all that debt, 342 00:16:51,960 --> 00:16:55,160 Speaker 1: the next thing that you should highly consider is starting 343 00:16:55,200 --> 00:16:58,480 Speaker 1: an emergency fund. If you don't have any, or it's 344 00:16:58,640 --> 00:17:01,480 Speaker 1: a very very small chunk, you need to have something 345 00:17:01,520 --> 00:17:04,399 Speaker 1: in reserve basically to prevent you from taking out that 346 00:17:04,480 --> 00:17:06,600 Speaker 1: credit card and taking out a high interest rate debt. 347 00:17:06,600 --> 00:17:10,120 Speaker 1: And so an emergency fund of a thousand to two 348 00:17:10,160 --> 00:17:13,680 Speaker 1: thousand dollars sitting in your bank account, you know, obviously 349 00:17:13,760 --> 00:17:16,480 Speaker 1: financial experts recommend more. It's really really hard to get 350 00:17:16,520 --> 00:17:20,680 Speaker 1: up to that six month of emergency funds. Joe's a 351 00:17:20,720 --> 00:17:23,359 Speaker 1: little more loose and free with his money. So like 352 00:17:23,400 --> 00:17:26,639 Speaker 1: I would suggest, some folks are fine and comfortable with 353 00:17:26,680 --> 00:17:29,000 Speaker 1: a thousand and two thousand, but man like, if you 354 00:17:29,040 --> 00:17:31,159 Speaker 1: can get three months worth of living expenses all the 355 00:17:31,200 --> 00:17:34,199 Speaker 1: way up to six even six months, I say, go 356 00:17:34,280 --> 00:17:36,679 Speaker 1: for it. That's that's great. I'm not disagreeing with that 357 00:17:36,880 --> 00:17:39,080 Speaker 1: at all. I'm not disagreeing with that. I'm just saying, 358 00:17:39,600 --> 00:17:41,680 Speaker 1: we're talking about a three thousand dollars tax refund here, 359 00:17:41,760 --> 00:17:45,600 Speaker 1: so yes, start get it going. Yeah exactly, yet it going. Yeah, 360 00:17:45,680 --> 00:17:47,720 Speaker 1: that's what we're saying. Get something started, get it rolling. 361 00:17:47,920 --> 00:17:49,639 Speaker 1: And maybe if you do just have like a you know, 362 00:17:49,680 --> 00:17:51,399 Speaker 1: if you've got like five hundred bucks or a thousand 363 00:17:51,440 --> 00:17:53,719 Speaker 1: bucks sitting there and you want to beef it up, 364 00:17:54,080 --> 00:17:56,960 Speaker 1: man fully fund it. Get that in there, and I 365 00:17:57,119 --> 00:17:59,800 Speaker 1: promise you will not regret that. You will not regret 366 00:17:59,840 --> 00:18:03,120 Speaker 1: having that margin, having that sort of cushion in life. 367 00:18:03,240 --> 00:18:06,720 Speaker 1: Maybe I'm a little biased too, being self employed where 368 00:18:06,760 --> 00:18:08,880 Speaker 1: our income fluctuates so much, but to have that sort 369 00:18:08,920 --> 00:18:11,840 Speaker 1: of cushion there to kind of flatten out the high, 370 00:18:12,000 --> 00:18:14,080 Speaker 1: you know, the high months and to kind of bring 371 00:18:14,160 --> 00:18:15,640 Speaker 1: up the low months a little bit and to kind 372 00:18:15,640 --> 00:18:18,959 Speaker 1: of even out our income. For us man, having a 373 00:18:19,000 --> 00:18:22,320 Speaker 1: fatter cushion like that is is incredibly helpful. And I 374 00:18:22,320 --> 00:18:24,960 Speaker 1: think too for more and more folks who are picking 375 00:18:25,040 --> 00:18:27,760 Speaker 1: up side jobs and are kind of doing the gig 376 00:18:27,800 --> 00:18:31,560 Speaker 1: economy where their income is unpredictable, they're going to need 377 00:18:31,560 --> 00:18:33,359 Speaker 1: to have this sort of cushion built into you know, 378 00:18:33,520 --> 00:18:35,439 Speaker 1: like they read all these sort of articles or hear 379 00:18:35,480 --> 00:18:37,840 Speaker 1: people talking about like, oh, I can I've made this 380 00:18:37,960 --> 00:18:40,800 Speaker 1: much money starting my own starting my own business or 381 00:18:41,520 --> 00:18:44,080 Speaker 1: you know, selling making stuff on Etsy, or you know, 382 00:18:44,119 --> 00:18:46,600 Speaker 1: signing up for uber or something like that. But what 383 00:18:46,640 --> 00:18:48,640 Speaker 1: happens when you if you've got a month where you're 384 00:18:48,680 --> 00:18:51,159 Speaker 1: not doing so well, Yeah, you got to be prepared 385 00:18:51,200 --> 00:18:53,399 Speaker 1: for a lean monk. You need to have that there. 386 00:18:54,160 --> 00:18:57,040 Speaker 1: And then in my opinion, one of the next best 387 00:18:57,040 --> 00:19:01,080 Speaker 1: things to do is invest. I think investing with your 388 00:19:01,119 --> 00:19:03,639 Speaker 1: money is a great thing to consider. Putting it in 389 00:19:03,640 --> 00:19:07,000 Speaker 1: a roth ira or a regular ira, but starting to 390 00:19:07,040 --> 00:19:10,560 Speaker 1: stock money away for the future because most people now 391 00:19:10,680 --> 00:19:13,440 Speaker 1: don't start saving for retirement until they're in their forties. 392 00:19:14,000 --> 00:19:15,800 Speaker 1: And if you can get started now and maybe you're 393 00:19:15,840 --> 00:19:17,560 Speaker 1: forty and listening and you haven't, and you should get 394 00:19:17,560 --> 00:19:20,080 Speaker 1: started now that the tax refund is kind of that 395 00:19:20,160 --> 00:19:23,480 Speaker 1: perfect time to jump start that retirement savings and get 396 00:19:23,480 --> 00:19:26,320 Speaker 1: into the game and put it somewhere where it's working 397 00:19:26,320 --> 00:19:28,840 Speaker 1: for you for the future. Yeah. Do you have a 398 00:19:28,920 --> 00:19:31,840 Speaker 1: roth Ira? Yeah? I do, nice, and I don't know 399 00:19:31,880 --> 00:19:33,200 Speaker 1: if you. If you have one through your work, that's 400 00:19:33,240 --> 00:19:35,880 Speaker 1: I mean, that's how all of our retirement is through 401 00:19:35,920 --> 00:19:40,399 Speaker 1: our kidna. Both have roth iras. Roth Irays are fantastic. 402 00:19:41,200 --> 00:19:43,399 Speaker 1: Most of my retirement money is in a four to 403 00:19:43,480 --> 00:19:46,240 Speaker 1: one k through my job. But I have a roth 404 00:19:46,280 --> 00:19:49,440 Speaker 1: Ira that You've got that match, right, Yeah, I gotta 405 00:19:49,440 --> 00:19:52,120 Speaker 1: get that match, dog. I mean, I think a roth 406 00:19:52,160 --> 00:19:55,159 Speaker 1: Ira is a great vehicle for you to put some 407 00:19:55,200 --> 00:19:58,720 Speaker 1: of that tax refund into. And the max is fifty 408 00:19:58,720 --> 00:20:02,359 Speaker 1: five hundred and or most people under fifty five, and 409 00:20:02,480 --> 00:20:04,480 Speaker 1: so you can sock the whole the whole kit and 410 00:20:04,520 --> 00:20:08,680 Speaker 1: kaboodle for most of you into a wrath and and 411 00:20:08,720 --> 00:20:14,600 Speaker 1: get that retirement savings jump started. Yeah. Another avenue to consider, 412 00:20:14,880 --> 00:20:18,959 Speaker 1: right as far as investing or tax refund is investment properties, right, 413 00:20:18,960 --> 00:20:22,040 Speaker 1: And we've talked about that before on previous episodes and 414 00:20:22,119 --> 00:20:23,920 Speaker 1: if you haven't listened, give it, give it a listen. 415 00:20:23,960 --> 00:20:28,520 Speaker 1: But that's a huge part of our financial future. And 416 00:20:28,920 --> 00:20:32,040 Speaker 1: you can take that tax refund and put that towards 417 00:20:32,280 --> 00:20:34,720 Speaker 1: you know, that can kind of jump start your fund 418 00:20:35,240 --> 00:20:38,159 Speaker 1: to put down on a on a new property. I 419 00:20:38,200 --> 00:20:41,600 Speaker 1: completely agree, and I think this is one of the 420 00:20:41,600 --> 00:20:43,800 Speaker 1: the things that people talk about the least. If you 421 00:20:43,840 --> 00:20:46,359 Speaker 1: read any of the articles about where to put your 422 00:20:46,359 --> 00:20:49,359 Speaker 1: tax refund money, it's usually you know, obviously everyone says 423 00:20:49,400 --> 00:20:51,960 Speaker 1: high interest rate debt, and you know, we're just kind 424 00:20:51,960 --> 00:20:53,719 Speaker 1: of here to remind you and proud you in that direction. 425 00:20:54,359 --> 00:20:57,240 Speaker 1: You know, invest more. Blah blah blah. Yes, that's great. 426 00:20:57,280 --> 00:20:59,040 Speaker 1: All the articles are going to tell you that. I 427 00:20:59,040 --> 00:21:01,920 Speaker 1: think one of the main things that you can do, though, 428 00:21:02,840 --> 00:21:05,359 Speaker 1: is jump start something you're interested in, if you really 429 00:21:05,359 --> 00:21:07,680 Speaker 1: want to start a business or start investing in rental properties. 430 00:21:07,640 --> 00:21:11,080 Speaker 1: So this is a time where you think of it 431 00:21:11,119 --> 00:21:14,040 Speaker 1: as kind of your seed money, and that tax refund 432 00:21:14,160 --> 00:21:17,160 Speaker 1: is there for you to tap into to get going 433 00:21:17,200 --> 00:21:20,080 Speaker 1: with that idea you wanted. So don't squander it, man, 434 00:21:20,080 --> 00:21:23,240 Speaker 1: This this connd be something that can potentially make more 435 00:21:23,320 --> 00:21:27,200 Speaker 1: money for you. Like if you take this refund and 436 00:21:27,600 --> 00:21:29,840 Speaker 1: spend it wisely. This could be something that I mean 437 00:21:30,720 --> 00:21:34,440 Speaker 1: pays dividends upon dividends, and if you want to get 438 00:21:34,440 --> 00:21:38,400 Speaker 1: started and it started doing an online business where you 439 00:21:38,520 --> 00:21:41,360 Speaker 1: start a website and you're selling things, or you're flipping 440 00:21:41,440 --> 00:21:44,040 Speaker 1: you're flipping stuff, you're buying stuff on Craigslist and reselling 441 00:21:44,080 --> 00:21:46,159 Speaker 1: it for more money and refinishing it. Whatever it is. 442 00:21:46,600 --> 00:21:48,320 Speaker 1: This could be the seed money to kind of help 443 00:21:48,359 --> 00:21:51,399 Speaker 1: you get started and get you, you know, a space 444 00:21:51,440 --> 00:21:53,720 Speaker 1: if you need to run out of space, or the 445 00:21:53,760 --> 00:21:55,919 Speaker 1: seed money to buy some of the inventory that you 446 00:21:55,960 --> 00:21:58,439 Speaker 1: need that you can sell then resell whatever it is. 447 00:21:58,480 --> 00:22:00,840 Speaker 1: Think think about this money as a potential way to 448 00:22:01,080 --> 00:22:03,919 Speaker 1: start a business, start something on the side, you know, 449 00:22:04,000 --> 00:22:05,680 Speaker 1: super low key. Obviously you're not going to buy like 450 00:22:05,720 --> 00:22:08,840 Speaker 1: a McDonald's franchise with this money or whatever. Those are 451 00:22:08,880 --> 00:22:12,320 Speaker 1: really expensive from what I hear. But finding some way 452 00:22:12,400 --> 00:22:14,720 Speaker 1: to put this money to work for you that's not 453 00:22:14,760 --> 00:22:17,760 Speaker 1: in a typical investment account, but is actually kind of 454 00:22:17,760 --> 00:22:22,640 Speaker 1: getting started doing something in our society business wise. Something 455 00:22:22,640 --> 00:22:25,760 Speaker 1: else I wanted to talk about too, is not confusing 456 00:22:27,000 --> 00:22:30,600 Speaker 1: lifestyle purchases with investing. A huge pit peep of mine 457 00:22:30,680 --> 00:22:32,720 Speaker 1: is when when you hear people say that, oh, I 458 00:22:32,960 --> 00:22:37,080 Speaker 1: invested in a new vehicle or you know, by saying like, 459 00:22:37,080 --> 00:22:39,720 Speaker 1: oh I bought a new car for myself and that 460 00:22:39,840 --> 00:22:43,200 Speaker 1: you know, they make it sound smart by saying, oh 461 00:22:43,240 --> 00:22:47,080 Speaker 1: I invested in this, yes, when it's not an investment. 462 00:22:47,359 --> 00:22:50,920 Speaker 1: It's something that is just going down in value. It's 463 00:22:50,960 --> 00:22:53,440 Speaker 1: not something that's going to make you money. It's something 464 00:22:53,440 --> 00:22:57,480 Speaker 1: that you're going to consume. It's a lifestyle choice and 465 00:22:57,480 --> 00:23:01,040 Speaker 1: and that's fine, but just don't it. Yeah, right, if 466 00:23:01,040 --> 00:23:02,560 Speaker 1: you want to spend it. And we'll get to that 467 00:23:02,600 --> 00:23:05,280 Speaker 1: here towards the end as well, because it'll probably be 468 00:23:05,280 --> 00:23:07,280 Speaker 1: the last thing we talk about because spending is probably 469 00:23:07,600 --> 00:23:12,000 Speaker 1: you know, we'll prioritize that the least. But that's fine. Yeah, 470 00:23:12,040 --> 00:23:14,120 Speaker 1: it is okay for you to spend money on yourself, 471 00:23:14,160 --> 00:23:17,879 Speaker 1: but again, just just own it. I agree that one 472 00:23:17,880 --> 00:23:21,720 Speaker 1: of my pet peeves is when you say that you're 473 00:23:21,760 --> 00:23:25,280 Speaker 1: investing money in something and really you're just you're using 474 00:23:25,280 --> 00:23:27,480 Speaker 1: that word as a koy way to make yourself feel 475 00:23:27,520 --> 00:23:29,800 Speaker 1: better about a purchase you made. It's just a justification 476 00:23:30,200 --> 00:23:33,360 Speaker 1: unless it's making money somehow. Another great thing to do 477 00:23:33,440 --> 00:23:36,000 Speaker 1: with your tax refund would be to give it away 478 00:23:36,320 --> 00:23:39,919 Speaker 1: to charity. Yeah, charity to donate your money. I'm not 479 00:23:39,920 --> 00:23:43,080 Speaker 1: sure you know if you're giving now or what's important 480 00:23:43,080 --> 00:23:47,480 Speaker 1: to you. But neighborhood organizations that are doing great work. Yeah. Well, 481 00:23:47,560 --> 00:23:49,720 Speaker 1: Joel and I, I mean we both go to church 482 00:23:49,760 --> 00:23:52,199 Speaker 1: and we both regularly give there, and so that's i 483 00:23:52,200 --> 00:23:55,200 Speaker 1: mean a big portion of our you know, giving money 484 00:23:55,240 --> 00:23:58,680 Speaker 1: goes there. A great website, by the way, if you're 485 00:23:58,720 --> 00:24:01,879 Speaker 1: wanting to look up a place before you give to it, 486 00:24:01,920 --> 00:24:03,639 Speaker 1: because there's a lot of people asking for money and 487 00:24:03,680 --> 00:24:06,919 Speaker 1: you don't know where your money's actually going, is give 488 00:24:07,119 --> 00:24:10,840 Speaker 1: dot org. So check out give dot org before you 489 00:24:10,880 --> 00:24:13,000 Speaker 1: give your whole tax refund to an organization and make 490 00:24:13,000 --> 00:24:15,159 Speaker 1: sure it's being allocated kind of in a way that 491 00:24:15,200 --> 00:24:18,000 Speaker 1: you're okay with. Yeah, especially right after a natural disaster, 492 00:24:18,160 --> 00:24:21,760 Speaker 1: that's when all of those sort of not great organizations 493 00:24:21,880 --> 00:24:23,800 Speaker 1: kind of pop up out of nowhere, ye, asking for 494 00:24:23,800 --> 00:24:26,199 Speaker 1: your money, saying that they're going to send money to 495 00:24:26,280 --> 00:24:28,959 Speaker 1: wherever that disaster is. And yeah, some of them aren't 496 00:24:29,000 --> 00:24:31,600 Speaker 1: so good. There's a lot of great ones. Yeah, And 497 00:24:31,600 --> 00:24:33,520 Speaker 1: it's really easy to check in on a charity now 498 00:24:33,720 --> 00:24:36,359 Speaker 1: to do your homework. So don't let that be a 499 00:24:36,359 --> 00:24:38,960 Speaker 1: reason not to give, but let that be a reason 500 00:24:39,040 --> 00:24:41,680 Speaker 1: to be cautious and to do your research first, because 501 00:24:41,800 --> 00:24:44,480 Speaker 1: it takes almost no time at all to do that research. Yeah, 502 00:24:44,520 --> 00:24:46,920 Speaker 1: And one of the benefits of giving your money away 503 00:24:46,960 --> 00:24:50,040 Speaker 1: too is it just helps you to become generous. And 504 00:24:50,080 --> 00:24:52,359 Speaker 1: so one of the problems I think with folks that 505 00:24:52,400 --> 00:24:56,280 Speaker 1: are that become maybe obsessed or fixated on saving a 506 00:24:56,280 --> 00:24:58,160 Speaker 1: certain amount by a certain date and trying to become 507 00:24:58,240 --> 00:25:02,119 Speaker 1: financially independent, is that the become so sort of like 508 00:25:02,240 --> 00:25:06,600 Speaker 1: self involved and so inward looking and the like little gollums. 509 00:25:08,080 --> 00:25:11,200 Speaker 1: You know, it's all about whatever that they're trying to achieve, 510 00:25:11,280 --> 00:25:14,760 Speaker 1: and you know, and damn their rest, and that can 511 00:25:14,840 --> 00:25:18,560 Speaker 1: really throw things out of balance. I agree. A balanced 512 00:25:18,560 --> 00:25:23,760 Speaker 1: life is one where you give freely and generously of 513 00:25:23,840 --> 00:25:26,720 Speaker 1: the money you're given. And it's not that you don't 514 00:25:26,760 --> 00:25:28,560 Speaker 1: have goals. It's not that you're not thoughtful about your money, 515 00:25:28,600 --> 00:25:32,439 Speaker 1: because obviously we are, and we also encourage that in 516 00:25:32,520 --> 00:25:36,280 Speaker 1: other people. But in my opinion, one of the one 517 00:25:36,320 --> 00:25:38,200 Speaker 1: of the greatest things that I've been taught and one 518 00:25:38,200 --> 00:25:41,040 Speaker 1: of the greatest things I've been able to do, is 519 00:25:41,080 --> 00:25:45,359 Speaker 1: to be able to give the money that I earn, 520 00:25:45,440 --> 00:25:48,480 Speaker 1: that I make from smart investments, from my day job, 521 00:25:49,000 --> 00:25:53,160 Speaker 1: from my side gigs, give it to organizations that mean 522 00:25:53,280 --> 00:25:55,720 Speaker 1: something to me, that are doing good in my community, 523 00:25:55,760 --> 00:25:59,240 Speaker 1: that are close to my heart. And so it's good 524 00:25:59,280 --> 00:26:02,760 Speaker 1: for me mentally and how I think about money, and 525 00:26:02,800 --> 00:26:04,439 Speaker 1: that money is not the end all be all, and 526 00:26:04,480 --> 00:26:08,080 Speaker 1: it's good for me as an act of service to 527 00:26:09,000 --> 00:26:11,919 Speaker 1: people around me, and it's really really good for my 528 00:26:12,000 --> 00:26:17,120 Speaker 1: attachment to money. Okay, if it weren't for that conscious 529 00:26:17,200 --> 00:26:19,880 Speaker 1: act of giving a certain portion of my money away, 530 00:26:20,359 --> 00:26:23,960 Speaker 1: I would become yeah, right, end up like scrooges and yeah, 531 00:26:23,960 --> 00:26:26,399 Speaker 1: I just want to only Yeah, I want to control 532 00:26:26,480 --> 00:26:29,240 Speaker 1: every little thing, and this is Yeah, I would just 533 00:26:29,359 --> 00:26:32,360 Speaker 1: change our disposition. It would just change our attitude completely 534 00:26:32,359 --> 00:26:35,120 Speaker 1: to money and and those around us as well. Yeah 535 00:26:35,200 --> 00:26:38,280 Speaker 1: all right, last, but not least and then the final 536 00:26:38,520 --> 00:26:42,400 Speaker 1: spend it. Spend it. I mean, so we're gonna only 537 00:26:42,440 --> 00:26:46,520 Speaker 1: recommend this, I think to people who are like super 538 00:26:46,640 --> 00:26:49,600 Speaker 1: cheap skates. So here's I would say, only spend it 539 00:26:49,720 --> 00:26:52,520 Speaker 1: unless yeah, unless you're a cheap skate. And it takes 540 00:26:52,560 --> 00:26:55,920 Speaker 1: a lot of force for you to actually spend money. Yeah, 541 00:26:55,960 --> 00:26:57,880 Speaker 1: you might need to spend this more than somebody else 542 00:26:57,880 --> 00:27:01,960 Speaker 1: who is very comfortable spending money. This is a license 543 00:27:01,960 --> 00:27:03,600 Speaker 1: for you to live in the now and to do 544 00:27:03,680 --> 00:27:08,640 Speaker 1: something that is good for you. As you you're great 545 00:27:08,640 --> 00:27:11,560 Speaker 1: with money, You're you're on the right track. You know what, 546 00:27:11,680 --> 00:27:14,760 Speaker 1: do something that's maybe a little frivolous that you don't 547 00:27:14,760 --> 00:27:17,800 Speaker 1: wouldn't normally do for yourself. Yeah, Like if you know 548 00:27:17,840 --> 00:27:20,399 Speaker 1: your net worth, then you should probably spend this on 549 00:27:20,480 --> 00:27:23,080 Speaker 1: something frivolous. Yeah. Yeah, Like if you're kind of the 550 00:27:23,160 --> 00:27:26,200 Speaker 1: kind of guy that has a track of all your numbers, 551 00:27:26,320 --> 00:27:28,160 Speaker 1: or you know, like if you're a girl and and 552 00:27:28,200 --> 00:27:30,320 Speaker 1: like you know, than the number of years you have 553 00:27:30,640 --> 00:27:33,840 Speaker 1: until you're financially independent, like, loosen up a little bit. 554 00:27:33,880 --> 00:27:37,040 Speaker 1: This is maybe maybe you can actually take that money 555 00:27:37,080 --> 00:27:39,600 Speaker 1: and spend it time. If you're so frugal that you 556 00:27:39,640 --> 00:27:43,200 Speaker 1: haven't bought new underwear since high school, or your socks 557 00:27:43,240 --> 00:27:46,200 Speaker 1: all have holes in them, yeah, think about doing something 558 00:27:46,240 --> 00:27:48,320 Speaker 1: nice for yourself and at least restocking the underworld. D Ar. 559 00:27:49,000 --> 00:27:51,160 Speaker 1: And another thing I would say, too, Matt, is even 560 00:27:51,200 --> 00:27:53,840 Speaker 1: for people that aren't in that frugal camp that have 561 00:27:53,880 --> 00:27:58,680 Speaker 1: a hard time treating themselves, I would say, another thing 562 00:27:58,720 --> 00:28:00,920 Speaker 1: that makes it easier to take all these other steps 563 00:28:00,960 --> 00:28:03,520 Speaker 1: that we just talked about. One thing that helps you 564 00:28:04,359 --> 00:28:07,840 Speaker 1: feel less destitute by doing that is by taking ten 565 00:28:07,960 --> 00:28:10,560 Speaker 1: percent of your tax refund, just spending like a portion 566 00:28:10,600 --> 00:28:12,639 Speaker 1: of it, ye, spending a portion and giving yourself an 567 00:28:12,560 --> 00:28:14,720 Speaker 1: a lotment saying, you know what, I got three thousand 568 00:28:14,760 --> 00:28:16,960 Speaker 1: dollars back on this tax refund, I'm going to drop 569 00:28:17,000 --> 00:28:20,719 Speaker 1: three hundred dollars on a spot, a whatever it is, 570 00:28:20,960 --> 00:28:22,960 Speaker 1: whatever it is that kind of like makes you happy, 571 00:28:23,320 --> 00:28:26,240 Speaker 1: drop ten percent of it on that, and then take 572 00:28:26,280 --> 00:28:28,800 Speaker 1: the rest and put it towards something one of these 573 00:28:28,800 --> 00:28:30,919 Speaker 1: goals that's actually going to help get you somewhere. And 574 00:28:30,960 --> 00:28:32,520 Speaker 1: that makes it just like a little bit easier to 575 00:28:32,560 --> 00:28:35,640 Speaker 1: swallow as you're moving forward and you're trying to make 576 00:28:35,680 --> 00:28:38,160 Speaker 1: good strides with your money. But you know what, it's 577 00:28:38,240 --> 00:28:39,640 Speaker 1: kind of hard to do it with the whole thing 578 00:28:40,440 --> 00:28:42,400 Speaker 1: unless you've got like a payday loan or like crazy 579 00:28:42,480 --> 00:28:45,560 Speaker 1: high credit card. Take ten percent, Take ten percent and 580 00:28:45,680 --> 00:28:48,320 Speaker 1: put it towards something that you want just because you 581 00:28:48,360 --> 00:28:50,880 Speaker 1: want it. Yeah, and that fits along with the poor 582 00:28:50,920 --> 00:28:54,880 Speaker 1: not poor lifestyle, right, like we want to not sacrifice 583 00:28:54,920 --> 00:28:58,560 Speaker 1: everything now, So that we can live in the future. 584 00:28:58,600 --> 00:28:59,800 Speaker 1: We want to be able to live a little bit now. 585 00:28:59,800 --> 00:29:01,760 Speaker 1: There's a lot of life to be lived now, there's 586 00:29:01,920 --> 00:29:04,640 Speaker 1: a lot of opportunities that we only have right now. 587 00:29:05,520 --> 00:29:08,760 Speaker 1: Don't forsake those those opportunities. Oh man. And something else 588 00:29:08,800 --> 00:29:10,560 Speaker 1: you wanted to say is that don't spend it on 589 00:29:10,640 --> 00:29:14,680 Speaker 1: something that's going to continue to cost you money. Right, 590 00:29:14,800 --> 00:29:16,880 Speaker 1: that's a really good call, Like, don't take that money 591 00:29:16,880 --> 00:29:19,040 Speaker 1: and think, Oh man, I've got a sweet down payment 592 00:29:19,120 --> 00:29:22,280 Speaker 1: for a car. You get the car, and now you're 593 00:29:22,320 --> 00:29:25,880 Speaker 1: saddled with these additional car payments that are just going 594 00:29:25,920 --> 00:29:28,640 Speaker 1: to weigh you down for the foreseeable future. Right Like 595 00:29:28,960 --> 00:29:32,520 Speaker 1: you got this one time cash injection with your with 596 00:29:32,560 --> 00:29:35,640 Speaker 1: your refund, You're not going to keep getting these these 597 00:29:35,640 --> 00:29:38,560 Speaker 1: refunds every month. Don't satly yourself with additional payments, with 598 00:29:38,600 --> 00:29:43,360 Speaker 1: additional debt, like a timeshare or something like that. Don't 599 00:29:43,400 --> 00:29:48,040 Speaker 1: do that. Yeah, if if you're considering a timeshare, uh yeah, 600 00:29:48,240 --> 00:29:50,800 Speaker 1: email us directly and we're gonna have to talk to 601 00:29:50,840 --> 00:29:53,960 Speaker 1: you about that. We'll we'll dissuade you. Yeah quickly. Did 602 00:29:53,960 --> 00:29:56,520 Speaker 1: you ever go to any of the time share I've 603 00:29:56,720 --> 00:29:59,440 Speaker 1: luncheons or meetings or whatever. You know what I'm talking about. Oh, 604 00:29:59,480 --> 00:30:01,080 Speaker 1: I tell you what talking about. No, I've never been 605 00:30:01,120 --> 00:30:02,920 Speaker 1: to one. I think they seen any here. Funny story, 606 00:30:02,920 --> 00:30:07,440 Speaker 1: they frightened me. So one time spring break I can't 607 00:30:07,480 --> 00:30:10,440 Speaker 1: even remember what year this was in college, but at 608 00:30:10,480 --> 00:30:13,280 Speaker 1: the hotel we're staying at, somebody at the front desk 609 00:30:13,400 --> 00:30:15,000 Speaker 1: was like, hey, if you go and sign up for 610 00:30:15,040 --> 00:30:17,800 Speaker 1: this tomorrow morning, you will have a free breakfast and 611 00:30:17,880 --> 00:30:20,040 Speaker 1: you sit through this presentation and at the end you 612 00:30:20,040 --> 00:30:23,160 Speaker 1: get one hundred dollars visa check card. And so me 613 00:30:23,200 --> 00:30:27,400 Speaker 1: and my buddy Joe were both not Joel Joe, different guy, 614 00:30:27,440 --> 00:30:29,960 Speaker 1: you know, Joe. Yeah, actually yeah, almost as cool as me, 615 00:30:31,320 --> 00:30:34,880 Speaker 1: just short of that l And so me and him 616 00:30:34,960 --> 00:30:36,120 Speaker 1: I looked at each other and I'm just like, well, 617 00:30:36,120 --> 00:30:40,600 Speaker 1: we're gonna do this. And so we each we got 618 00:30:40,600 --> 00:30:43,640 Speaker 1: our girlfriends at the time now our wives up the 619 00:30:43,680 --> 00:30:46,040 Speaker 1: next morning and we went to that presentation. We got 620 00:30:46,240 --> 00:30:49,080 Speaker 1: ourselves at free breakfast, and we sat through it and 621 00:30:49,160 --> 00:30:52,880 Speaker 1: it seemed way more sales pitchy than they made it 622 00:30:52,920 --> 00:30:54,640 Speaker 1: sound like it was going to be. And we just 623 00:30:54,720 --> 00:30:56,000 Speaker 1: kind of had to come out and tell the lady. 624 00:30:56,040 --> 00:30:59,080 Speaker 1: I were just like look, we can't buy a timeshare, like, 625 00:30:59,120 --> 00:31:01,520 Speaker 1: we don't have any money. Did you still get the 626 00:31:01,520 --> 00:31:04,400 Speaker 1: gift card? Yeah, yeah, we totally did, which was great. 627 00:31:04,720 --> 00:31:09,040 Speaker 1: The breakfast, Hey, the breakfast mimosas too. I don't think 628 00:31:09,040 --> 00:31:12,080 Speaker 1: everyone everyone there get you dude, they get you tips 629 00:31:12,320 --> 00:31:14,840 Speaker 1: that might be anyway. She was very kind about it, 630 00:31:14,880 --> 00:31:17,240 Speaker 1: but said that you never know who's got money to 631 00:31:17,240 --> 00:31:20,080 Speaker 1: spend and who doesn't. But we definitely, yeah, we did 632 00:31:20,080 --> 00:31:22,080 Speaker 1: not have the money. We actually kind of felt Yeah, 633 00:31:22,080 --> 00:31:23,720 Speaker 1: we felt bad, but we didn't know what it was 634 00:31:23,760 --> 00:31:25,680 Speaker 1: going into it. We literally were told that, like you 635 00:31:25,760 --> 00:31:27,240 Speaker 1: just kind of hang out and show up and listen 636 00:31:27,240 --> 00:31:29,400 Speaker 1: to them talking. You get a you get a hundred 637 00:31:29,400 --> 00:31:32,920 Speaker 1: dollars jump. Yeah card. I've never been in a timeshare presentation, 638 00:31:33,040 --> 00:31:35,440 Speaker 1: but yeah, one of these days I'm going to have 639 00:31:35,480 --> 00:31:37,280 Speaker 1: to do it, just to just to see the belly 640 00:31:37,280 --> 00:31:40,800 Speaker 1: of the beast. Yeah. If you're looking to buy a 641 00:31:40,880 --> 00:31:44,840 Speaker 1: vacation rental back in the eighties, yeah, sorry, Yeah, it's 642 00:31:44,840 --> 00:31:48,520 Speaker 1: a change. You got yourself a time share, all right, 643 00:31:48,600 --> 00:31:51,640 Speaker 1: So definitely don't spend your tax refund on a timeshare 644 00:31:51,760 --> 00:31:54,800 Speaker 1: or even consider it. Back to the beer, Matt, what 645 00:31:54,840 --> 00:32:00,720 Speaker 1: did you think of Westbrook Joy spelled j O I E. Yeah, 646 00:32:00,760 --> 00:32:04,040 Speaker 1: this beer. You know, I really can't get past that honey. 647 00:32:04,160 --> 00:32:06,440 Speaker 1: You know, hop Slam just came out and that, you know, 648 00:32:06,480 --> 00:32:08,160 Speaker 1: they're big thing. It's been I mean it's been years 649 00:32:08,160 --> 00:32:10,920 Speaker 1: since I've had Hopslam, but their big thing was like, Oh, 650 00:32:10,960 --> 00:32:13,120 Speaker 1: it's an ipa made with honey, and I feel like 651 00:32:13,160 --> 00:32:15,320 Speaker 1: you could barely taste it, but I swear with this. 652 00:32:15,760 --> 00:32:17,600 Speaker 1: I mean it's like there's honeycomb in the bottom of 653 00:32:17,600 --> 00:32:19,600 Speaker 1: the glass on this, Like it just not that it's 654 00:32:19,600 --> 00:32:22,800 Speaker 1: that sweet, but it just has that that honey flavor. Yeah, 655 00:32:22,840 --> 00:32:24,760 Speaker 1: it really does have that honey flavor. It's got some 656 00:32:24,800 --> 00:32:27,160 Speaker 1: apricot flavor in it. Caught me off guard at first, 657 00:32:27,160 --> 00:32:28,719 Speaker 1: but I mean the more I drink it, the more 658 00:32:28,720 --> 00:32:31,400 Speaker 1: I like it. I've never had saw turns or however 659 00:32:31,440 --> 00:32:34,000 Speaker 1: you pronounce it, but I can see after reading the 660 00:32:34,000 --> 00:32:36,240 Speaker 1: description of what it is that it's this white wine 661 00:32:36,240 --> 00:32:38,880 Speaker 1: that's kind of fruit sweeter white wine. This definitely has 662 00:32:38,880 --> 00:32:40,640 Speaker 1: a lot of those characters. You can tell it's a yeah, 663 00:32:40,680 --> 00:32:43,480 Speaker 1: I mean you can tell it's a farmhouse ale that's 664 00:32:43,480 --> 00:32:48,120 Speaker 1: been aged and yeah, and sweet white wine barrels. Yeah, 665 00:32:48,240 --> 00:32:50,280 Speaker 1: this is a really good beer. Yeah, I could. Super tasty. 666 00:32:50,360 --> 00:32:52,160 Speaker 1: Yeah as it warms up, man, I could on a 667 00:32:52,200 --> 00:32:54,400 Speaker 1: hot day. This is like a light, easy drinking beer. 668 00:32:54,440 --> 00:32:57,000 Speaker 1: I can. I could drink this with some spicier food 669 00:32:57,080 --> 00:32:59,400 Speaker 1: or something like that, that would be it be delicious. Yeah. 670 00:32:59,400 --> 00:33:02,640 Speaker 1: And I think again, if you're not super into sours, 671 00:33:02,680 --> 00:33:04,200 Speaker 1: but you're like, I don't know, I kind of want 672 00:33:04,200 --> 00:33:05,920 Speaker 1: to get into them or try them out, there's another 673 00:33:05,960 --> 00:33:08,240 Speaker 1: good gateway beer for people that are interested in checking 674 00:33:08,280 --> 00:33:11,280 Speaker 1: sours out. I would I would recommend if you if 675 00:33:11,280 --> 00:33:15,200 Speaker 1: you can find Westbrook Joy that it's a it's definitely 676 00:33:15,240 --> 00:33:18,200 Speaker 1: a worthwhile pick up. And uh it's got just a 677 00:33:18,200 --> 00:33:20,400 Speaker 1: little bit of that sour and funk. It's not not 678 00:33:20,520 --> 00:33:22,480 Speaker 1: too far down that line, so it's not going to 679 00:33:22,560 --> 00:33:25,840 Speaker 1: like blow your palette out out of the water. All right, 680 00:33:25,880 --> 00:33:28,960 Speaker 1: So great beer, great hangs, great topic again, real quick 681 00:33:29,000 --> 00:33:31,560 Speaker 1: to recap. First, you shouldn't have a tax refund. There's 682 00:33:31,560 --> 00:33:33,800 Speaker 1: issues that come along with it, potential identity theft. You 683 00:33:33,800 --> 00:33:36,280 Speaker 1: don't want to get that refund sucked up and maybe 684 00:33:36,280 --> 00:33:37,720 Speaker 1: never see it for yeah, and not see it for 685 00:33:37,760 --> 00:33:39,360 Speaker 1: a long time. Just in general, we want you to 686 00:33:39,400 --> 00:33:42,680 Speaker 1: be more active with saving your money. Yeah, I don't. 687 00:33:43,040 --> 00:33:45,760 Speaker 1: I'd rather see you decide to, you know, set this 688 00:33:45,800 --> 00:33:47,680 Speaker 1: money aside and to be active with it and to 689 00:33:47,840 --> 00:33:50,600 Speaker 1: invest it or spend it on a on a bi 690 00:33:50,640 --> 00:33:53,080 Speaker 1: weekly or month to month basis, versus getting a huge 691 00:33:53,160 --> 00:33:56,080 Speaker 1: chunk at the end by default. Yep. Agreed. And pay 692 00:33:56,120 --> 00:33:59,000 Speaker 1: down those high interest rate loans or credit cards. If 693 00:33:59,040 --> 00:34:02,520 Speaker 1: you've got something that's upper singles or double digit interest 694 00:34:02,600 --> 00:34:05,680 Speaker 1: rate credit card especially, wipe it out. Wipe it out, 695 00:34:05,840 --> 00:34:07,960 Speaker 1: be done with it. If you've got a student loan 696 00:34:08,000 --> 00:34:11,000 Speaker 1: that's eight and a half percent, whatever it is, you 697 00:34:11,080 --> 00:34:14,040 Speaker 1: start working on those things. Put your money in towards that. 698 00:34:14,760 --> 00:34:16,920 Speaker 1: Start an emergency fund if you don't have one, or 699 00:34:16,920 --> 00:34:19,920 Speaker 1: if it's really small, start an emergency fund. Kind of 700 00:34:19,920 --> 00:34:23,000 Speaker 1: get the ball rolling on that. Next with additional money, man, 701 00:34:23,080 --> 00:34:25,040 Speaker 1: take that money and invest it. Put that money into 702 00:34:25,040 --> 00:34:27,920 Speaker 1: work for you, and that could I mean, I think 703 00:34:27,960 --> 00:34:29,799 Speaker 1: that's one of the best things you can do with 704 00:34:30,200 --> 00:34:33,120 Speaker 1: additional money that you're going to get as a refund 705 00:34:33,280 --> 00:34:37,120 Speaker 1: is put it to work, be creative, invest it. Put 706 00:34:37,120 --> 00:34:40,960 Speaker 1: that money towards a new business. Do something with it. Yeah, 707 00:34:41,040 --> 00:34:43,880 Speaker 1: do something positive for your future. You can do that 708 00:34:43,920 --> 00:34:45,719 Speaker 1: with this lump sum that you didn't know how much 709 00:34:45,760 --> 00:34:48,640 Speaker 1: you were getting. Give it away, give it away to charity, 710 00:34:48,880 --> 00:34:53,160 Speaker 1: find something that represents your values and what you're interested in. 711 00:34:53,320 --> 00:34:56,239 Speaker 1: And it's just a really good exercise for you to Yeah, yeah, 712 00:34:56,239 --> 00:34:57,440 Speaker 1: that's what I was gonna say. It's just an exer. 713 00:34:57,560 --> 00:34:59,719 Speaker 1: It's a good thing to just get used to doing. Right. 714 00:35:00,120 --> 00:35:02,040 Speaker 1: The more you do it, the easier it's going to be. 715 00:35:02,120 --> 00:35:03,759 Speaker 1: At first, it might just be like, oh, I don't 716 00:35:03,800 --> 00:35:07,279 Speaker 1: want to write that check. And it it helps you realize too. 717 00:35:07,320 --> 00:35:11,000 Speaker 1: I think how fortunate you are when you have money, 718 00:35:11,160 --> 00:35:13,760 Speaker 1: absolutely true, when you have money that you can give away, 719 00:35:14,480 --> 00:35:16,879 Speaker 1: and then kind of what that does and what you 720 00:35:16,920 --> 00:35:19,200 Speaker 1: see and how you see it go to things that 721 00:35:19,239 --> 00:35:22,759 Speaker 1: you care about. It's like, it's really fun to see that, 722 00:35:23,280 --> 00:35:26,160 Speaker 1: and it's just such a good exercise for your heart 723 00:35:26,239 --> 00:35:28,920 Speaker 1: and how you think about money. And I think you 724 00:35:29,600 --> 00:35:33,080 Speaker 1: when you do challenge yourself to give more money away, 725 00:35:33,280 --> 00:35:35,359 Speaker 1: the view that you have of the money in your 726 00:35:35,360 --> 00:35:38,520 Speaker 1: own bank account changes, and in a really good way, 727 00:35:38,560 --> 00:35:40,200 Speaker 1: in a positive way. Yeah, it'll make you a better 728 00:35:40,239 --> 00:35:43,360 Speaker 1: person for sure. Then and then last, be selfish with it. 729 00:35:43,440 --> 00:35:46,040 Speaker 1: You can spend a little bit right, don't feel the 730 00:35:46,120 --> 00:35:49,520 Speaker 1: need to take every single dollar and doing every little 731 00:35:49,560 --> 00:35:52,560 Speaker 1: thing possible to put that money into work. Feel free to, 732 00:35:52,680 --> 00:35:54,239 Speaker 1: like Joel said, ten percent, if you want to take 733 00:35:54,280 --> 00:35:57,080 Speaker 1: ten percent of your refund or whatever chunk of money 734 00:35:57,080 --> 00:36:01,640 Speaker 1: that you find yourself receiving and spend it on yourself. Yeah, 735 00:36:01,840 --> 00:36:03,560 Speaker 1: just don't spend it on something that's going to continue 736 00:36:03,600 --> 00:36:07,879 Speaker 1: to cost you money. Like a pony. They eat so much, 737 00:36:09,080 --> 00:36:11,360 Speaker 1: all the oats you'll have to buy in a space 738 00:36:11,400 --> 00:36:13,600 Speaker 1: in your backyard. Oh, it's just and all the pooh 739 00:36:13,600 --> 00:36:15,239 Speaker 1: you'll have to clean up. It's just not worth it. 740 00:36:15,960 --> 00:36:17,520 Speaker 1: So Kate and I had this discussion when we talk 741 00:36:17,560 --> 00:36:20,200 Speaker 1: about things with our girls, we say, is this an 742 00:36:20,280 --> 00:36:23,279 Speaker 1: extra curricular thing that we want them to do? Because 743 00:36:23,320 --> 00:36:26,400 Speaker 1: we were looking like down the road and we categorize 744 00:36:26,440 --> 00:36:28,960 Speaker 1: things and we say, is this like a pony? Is 745 00:36:28,960 --> 00:36:30,879 Speaker 1: this like a like one of those pony expenses where 746 00:36:30,880 --> 00:36:33,000 Speaker 1: it's going to continue to cost more and more and 747 00:36:33,040 --> 00:36:35,640 Speaker 1: more money for the rest of your life. Yeah, just 748 00:36:36,200 --> 00:36:38,440 Speaker 1: because it's a hobby or an interest. And obviously if 749 00:36:38,440 --> 00:36:42,400 Speaker 1: it's something that they absolutely love, you know, we're gonna 750 00:36:42,400 --> 00:36:45,040 Speaker 1: do what we can to make that happen. But I 751 00:36:45,080 --> 00:36:47,239 Speaker 1: don't know at this point when they are only like 752 00:36:47,360 --> 00:36:50,000 Speaker 1: three and four years old. I'm like, ah, we're gonna 753 00:36:50,400 --> 00:36:52,480 Speaker 1: we're gonna pull back a little bit on some of 754 00:36:52,480 --> 00:36:56,239 Speaker 1: those expenses. Yeah, So avoid the pony expense we'll call it, 755 00:36:56,560 --> 00:36:59,040 Speaker 1: And don't drop your tax refund into something that's gonna 756 00:36:59,080 --> 00:37:01,920 Speaker 1: continue to eat into your wallet four months or years 757 00:37:01,920 --> 00:37:04,120 Speaker 1: to come. Make sure it's a one time expense. It's 758 00:37:04,120 --> 00:37:05,680 Speaker 1: a plane ticket to go see a friend or a 759 00:37:05,719 --> 00:37:08,360 Speaker 1: relative or something good that's a one time drop in 760 00:37:08,440 --> 00:37:11,960 Speaker 1: the bucket with a part of your tax refund. Other 761 00:37:12,000 --> 00:37:14,200 Speaker 1: than that, hopefully we've covered some things that are going 762 00:37:14,239 --> 00:37:17,400 Speaker 1: to help you and that you can use this thousand, 763 00:37:17,440 --> 00:37:19,840 Speaker 1: two thousand and three thousand dollars, whatever your tax refund 764 00:37:19,880 --> 00:37:22,560 Speaker 1: is this year towards something positive that actually builds up 765 00:37:22,600 --> 00:37:25,200 Speaker 1: your future fundage so that you can do something great 766 00:37:25,600 --> 00:37:30,040 Speaker 1: and puts more power back in your hands, because you 767 00:37:30,080 --> 00:37:34,040 Speaker 1: don't want to look back in June and say I 768 00:37:34,120 --> 00:37:36,840 Speaker 1: wasted that money. Do something positive with it, Do something 769 00:37:36,840 --> 00:37:39,440 Speaker 1: that's gonna change your future. And I think all these 770 00:37:39,480 --> 00:37:41,680 Speaker 1: things that we talked about can do that for you 771 00:37:41,719 --> 00:37:44,200 Speaker 1: can have that effect. Thanks so much for listening everyone. 772 00:37:44,239 --> 00:37:47,200 Speaker 1: Our home on the web is Howtomoney dot com. Be 773 00:37:47,280 --> 00:37:48,799 Speaker 1: sure to check it out. We'll have our show notes 774 00:37:48,840 --> 00:37:50,680 Speaker 1: up there for you, and don't forget to hit the 775 00:37:50,680 --> 00:37:54,200 Speaker 1: subscribe button on Apple podcasts or wherever you're listening to 776 00:37:54,280 --> 00:37:57,280 Speaker 1: the show. Until next time, Buddy best Friends as Friends 777 00:37:57,320 --> 00:38:02,520 Speaker 1: out one of the b