1 00:00:00,080 --> 00:00:02,920 Speaker 1: Welcome to Hat of Money. I'm Joel, I'm Matt. 2 00:00:03,080 --> 00:00:07,520 Speaker 2: Today we're talking about brainless borrowing, Doge dividends and abroad 3 00:00:07,680 --> 00:00:08,720 Speaker 2: on a budget. 4 00:00:27,280 --> 00:00:30,800 Speaker 1: Doge dividends. Jiel, that's a headline that's like specifically written 5 00:00:30,800 --> 00:00:33,760 Speaker 1: for the Friday flight. Yes, because of the alliterations. Of course, 6 00:00:33,800 --> 00:00:35,880 Speaker 1: your favorite thing, that's what I do? Best man? What's 7 00:00:35,880 --> 00:00:40,360 Speaker 1: this thing about? Newly So? And you U l y right? 8 00:00:40,400 --> 00:00:44,959 Speaker 2: So I thought this and this is a particular website company, 9 00:00:45,040 --> 00:00:47,080 Speaker 2: but there are other ones that do similar things apparently 10 00:00:47,080 --> 00:00:50,000 Speaker 2: like rent the runway or whatever. But you and I 11 00:00:50,080 --> 00:00:52,600 Speaker 2: a closed website. We haven't yeah, we haven't talked about 12 00:00:52,640 --> 00:00:55,200 Speaker 2: this actually on the show. But we got nominated for 13 00:00:55,280 --> 00:00:58,920 Speaker 2: an iHeart Podcast Award, the best in the Best Business 14 00:00:58,960 --> 00:01:03,920 Speaker 2: category best Business and Finance Podcasts, and we're probably gonna lose. Like, 15 00:01:04,000 --> 00:01:06,000 Speaker 2: let's be honest, there's. 16 00:01:05,800 --> 00:01:08,280 Speaker 1: A chance we win. I mean, well, we're a one 17 00:01:08,280 --> 00:01:10,360 Speaker 1: out of five nominated, but there's I think a less 18 00:01:10,360 --> 00:01:12,399 Speaker 1: than twenty percent chance that we win, twenty chance of 19 00:01:12,480 --> 00:01:14,560 Speaker 1: us making it. I don't know, maybe. 20 00:01:14,400 --> 00:01:18,240 Speaker 2: We're probably not, but so Emily, my wife and I 21 00:01:18,319 --> 00:01:21,399 Speaker 2: were like, let's go down for it. The awards are here, 22 00:01:21,440 --> 00:01:24,959 Speaker 2: in a little over a week. You sadly can't make it. 23 00:01:25,000 --> 00:01:27,640 Speaker 2: So if we do win, I'll be hoisting the trophy 24 00:01:28,160 --> 00:01:30,640 Speaker 2: alone without you, which will be sad. But again, we're 25 00:01:30,640 --> 00:01:33,560 Speaker 2: not winning, okay. So Emily's like, I need a fancy 26 00:01:33,640 --> 00:01:36,400 Speaker 2: dress for this occasion. We're going to like a podcast 27 00:01:36,480 --> 00:01:38,880 Speaker 2: award show, right, like, don't don't you walk down the 28 00:01:38,880 --> 00:01:40,560 Speaker 2: red carpet and you wear something nice? 29 00:01:40,880 --> 00:01:41,720 Speaker 1: What am I gonna wear? 30 00:01:42,040 --> 00:01:44,120 Speaker 2: And those kinds of dresses are I guess are typically 31 00:01:44,280 --> 00:01:47,400 Speaker 2: pretty expensive, and she's like, what why not just rent something? 32 00:01:47,480 --> 00:01:50,240 Speaker 2: And so we've never tried one of these websites before. 33 00:01:50,440 --> 00:01:52,720 Speaker 2: I don't know if guys do it or not. Like 34 00:01:53,480 --> 00:01:55,760 Speaker 2: I think my buddy Josh has done something called stitch 35 00:01:55,760 --> 00:01:58,520 Speaker 2: fix before, so I think some guys do rent close. 36 00:01:58,640 --> 00:02:00,720 Speaker 1: Stitch Fix was like they send you a of clothes. 37 00:02:00,840 --> 00:02:03,040 Speaker 1: Maybe that's it. Maybe you keep it stitch fixed. I 38 00:02:03,040 --> 00:02:04,160 Speaker 1: don't know. I don't know how that works. 39 00:02:04,440 --> 00:02:07,680 Speaker 2: But we looked into this into Newly and so she's 40 00:02:07,720 --> 00:02:10,760 Speaker 2: gonna get like like a six hundred dollars dress for 41 00:02:10,800 --> 00:02:13,880 Speaker 2: this occasion. You get like six pieces for like one 42 00:02:13,960 --> 00:02:16,040 Speaker 2: hundred bucks, and then you can. 43 00:02:15,919 --> 00:02:16,680 Speaker 1: Cancel at any time. 44 00:02:16,720 --> 00:02:18,280 Speaker 2: So it's one of those things where you're not obligated 45 00:02:18,320 --> 00:02:20,720 Speaker 2: to rent clothes from them for six months or a 46 00:02:20,760 --> 00:02:23,160 Speaker 2: year or anything like that. So especially for like a 47 00:02:23,160 --> 00:02:25,280 Speaker 2: special occasion, if you don't want to go fork over 48 00:02:25,360 --> 00:02:27,959 Speaker 2: big bucks for the nice dress for that when you 49 00:02:28,000 --> 00:02:30,720 Speaker 2: are you know, how often are these events actually occur? 50 00:02:30,800 --> 00:02:32,919 Speaker 1: Right? It's kind of rare. So I mean you said 51 00:02:32,919 --> 00:02:35,040 Speaker 1: one hundred bucks and that still sounds pretty dang expensive. 52 00:02:35,080 --> 00:02:37,320 Speaker 1: It's just like, is it worth it though to spend 53 00:02:38,160 --> 00:02:40,080 Speaker 1: you know, I guess six times that in order to 54 00:02:40,120 --> 00:02:42,359 Speaker 1: get the six hundred dollars dress, and I think it might. 55 00:02:42,560 --> 00:02:44,600 Speaker 1: This is probably why it makes more sense for ladies 56 00:02:44,639 --> 00:02:47,120 Speaker 1: than it does for men, because with men's clothing and 57 00:02:47,200 --> 00:02:50,079 Speaker 1: fashion generally speaking, there's not a whole lot that changes, right, 58 00:02:50,120 --> 00:02:52,519 Speaker 1: Like you get yourself a good fitting tucks or suit 59 00:02:52,600 --> 00:02:54,840 Speaker 1: and you're gonna wear that thing for like twenty years. 60 00:02:54,919 --> 00:02:57,000 Speaker 1: Where it's just it is a little bit different when 61 00:02:57,040 --> 00:02:58,400 Speaker 1: it comes to the ladies. Well, I think is that 62 00:02:58,400 --> 00:03:00,680 Speaker 1: a part of the pink tax that I think get. 63 00:03:01,160 --> 00:03:04,359 Speaker 1: I think there's just different standards as to what's expected 64 00:03:04,360 --> 00:03:06,960 Speaker 1: of the ladies up and which is a bummer, Like 65 00:03:07,200 --> 00:03:09,360 Speaker 1: you might love the dress and hey, it's fun for this, 66 00:03:09,480 --> 00:03:12,119 Speaker 1: but do you want to wear it again? Right? Yeah? 67 00:03:12,320 --> 00:03:12,520 Speaker 1: I know. 68 00:03:12,520 --> 00:03:15,239 Speaker 2: There's like a different thing about wearing the same dress 69 00:03:15,280 --> 00:03:15,920 Speaker 2: to fancy. 70 00:03:16,760 --> 00:03:18,960 Speaker 1: If I was a if I was a lady, I 71 00:03:18,960 --> 00:03:22,640 Speaker 1: would get an awesome dress and I would wear it 72 00:03:22,639 --> 00:03:26,400 Speaker 1: to everything, Like to all these events. It's just like, oh, 73 00:03:26,440 --> 00:03:27,399 Speaker 1: there's Matt. 74 00:03:27,240 --> 00:03:31,360 Speaker 2: Well, well you are who literally wears the same shirt 75 00:03:31,440 --> 00:03:33,160 Speaker 2: or the same outfit like six or seven days in 76 00:03:33,160 --> 00:03:34,639 Speaker 2: a row, that's. 77 00:03:34,360 --> 00:03:36,640 Speaker 1: In the winter. I can because I maybe like you 78 00:03:36,640 --> 00:03:39,680 Speaker 1: wear the undershirt and like I'm like my outer button 79 00:03:39,760 --> 00:03:42,640 Speaker 1: up shirt. It doesn't get dirty. And so I literally 80 00:03:42,720 --> 00:03:45,520 Speaker 1: have the ability. I will literally wear a new fresh 81 00:03:45,520 --> 00:03:47,920 Speaker 1: shirt on Sunday, wear it all throughout the week, and 82 00:03:47,920 --> 00:03:49,600 Speaker 1: then by the time Friday rolls around and I'm like, 83 00:03:49,600 --> 00:03:51,320 Speaker 1: all right, it's trust. I have noticed it's starting to 84 00:03:51,320 --> 00:03:53,600 Speaker 1: get a little bit stale. It doesn't get stinky because again, 85 00:03:54,040 --> 00:03:57,040 Speaker 1: the shirts that touched the skin, you gotta those are 86 00:03:57,080 --> 00:03:59,560 Speaker 1: going straight to the hamp after one used socks, underwear, 87 00:03:59,600 --> 00:04:01,800 Speaker 1: T shirt. It's one use. This is what we're teaching 88 00:04:01,800 --> 00:04:05,080 Speaker 1: our kids. But everything I was like pants, you know, 89 00:04:05,200 --> 00:04:07,120 Speaker 1: pay she can get several days out of it. Shorts, 90 00:04:07,200 --> 00:04:08,760 Speaker 1: I know, it depends on the shorts, but maybe you 91 00:04:08,760 --> 00:04:10,280 Speaker 1: can get a couple of days out of that jacket. 92 00:04:10,480 --> 00:04:14,200 Speaker 1: In jackets, jeans like these are things that you rarely 93 00:04:14,240 --> 00:04:16,760 Speaker 1: need to wash, which is of course going to lengthen 94 00:04:17,200 --> 00:04:19,680 Speaker 1: the life of your clothing as well. But I think 95 00:04:19,680 --> 00:04:22,839 Speaker 1: that's fun though. That Emily is, she's getting all dolled up, 96 00:04:22,880 --> 00:04:24,800 Speaker 1: getting dressed up. And I didn't think. I didn't realize 97 00:04:24,800 --> 00:04:26,560 Speaker 1: it's gonna be like the Oscars, But I don't know 98 00:04:27,120 --> 00:04:29,280 Speaker 1: it is. We'll see. I have no idea what to expect, 99 00:04:29,320 --> 00:04:31,720 Speaker 1: but I think, you know, y'll show up and everyone 100 00:04:31,720 --> 00:04:34,360 Speaker 1: else is wearing like jeans and T shirts. That might 101 00:04:34,400 --> 00:04:37,680 Speaker 1: be the case. Hey, no young being overdressed. You know, 102 00:04:37,920 --> 00:04:41,480 Speaker 1: it's just like, sorry, we've got a gala after this. 103 00:04:42,080 --> 00:04:43,480 Speaker 1: We didn't dress up for this, We dress up for 104 00:04:43,480 --> 00:04:46,160 Speaker 1: the other thing. Okay, Yeah, I love it. I'll let 105 00:04:46,200 --> 00:04:48,840 Speaker 1: you know if we if we win, But if we win, 106 00:04:49,720 --> 00:04:51,280 Speaker 1: you need to FaceTime me live and I'll be like, 107 00:04:51,920 --> 00:04:54,719 Speaker 1: you know, like the little microphone. Well yeah, all right, buddy, 108 00:04:55,000 --> 00:04:57,080 Speaker 1: that'll be me, yeah, yelling through the phone. 109 00:04:57,360 --> 00:04:58,880 Speaker 2: I look forward to it. All right, all right, let's 110 00:04:58,880 --> 00:05:00,960 Speaker 2: move on, mat, Let's get to Friday. Flight as sampling 111 00:05:01,040 --> 00:05:04,040 Speaker 2: stories we found interesting this week. Let's kick it off. 112 00:05:04,120 --> 00:05:06,640 Speaker 2: Let's talk about travel. If you want to fly for 113 00:05:06,720 --> 00:05:10,000 Speaker 2: less money, it's not all about finding the right discount 114 00:05:10,000 --> 00:05:13,039 Speaker 2: airline or snagging a sweet sale price. Like wait, I 115 00:05:13,040 --> 00:05:16,679 Speaker 2: think Southwest had a thirty percent off sale on certain 116 00:05:16,720 --> 00:05:18,760 Speaker 2: flights this week. I saw that, which is awesome. Yeah, 117 00:05:18,760 --> 00:05:21,880 Speaker 2: you might be able to fly for less right if 118 00:05:21,880 --> 00:05:24,240 Speaker 2: you find one of those sales. But it would also 119 00:05:24,279 --> 00:05:27,360 Speaker 2: be smart to fly or to attempt to fly from 120 00:05:27,360 --> 00:05:31,120 Speaker 2: the airports that offer the least expensive fares most regularly. 121 00:05:31,440 --> 00:05:35,680 Speaker 2: So to help us out here, the Bureau of Transportation Statistics, 122 00:05:35,720 --> 00:05:39,520 Speaker 2: they listed the lowest cost airports to embark from, and Matt, 123 00:05:39,720 --> 00:05:41,560 Speaker 2: I think we should name them right, because if you know, 124 00:05:41,880 --> 00:05:45,240 Speaker 2: let's do the airports that traditionally offer the lowest prices. Hey, 125 00:05:45,279 --> 00:05:47,400 Speaker 2: you might want to like start looking to see whether 126 00:05:47,440 --> 00:05:49,600 Speaker 2: you can find a flight from there, as opposed to 127 00:05:49,880 --> 00:05:53,360 Speaker 2: maybe the airport that's closest to your house. So Fort Lauderdale, Orlando. 128 00:05:53,440 --> 00:05:56,359 Speaker 2: So we got two Florida airports first off, but then Vegas, 129 00:05:56,600 --> 00:06:00,520 Speaker 2: Chicago and LaGuardia. Those are going to nab you the 130 00:06:00,520 --> 00:06:03,960 Speaker 2: lowest domestic fares on average dolls. 131 00:06:04,160 --> 00:06:05,000 Speaker 1: In Washington, d C. 132 00:06:05,120 --> 00:06:07,640 Speaker 2: That's the most expensive airport to fly from, and the 133 00:06:07,680 --> 00:06:11,240 Speaker 2: average price difference MATT between flights from Fort Lauderdale and 134 00:06:11,279 --> 00:06:14,159 Speaker 2: from the Washington Dollas Airport it's more than two hundred 135 00:06:14,160 --> 00:06:14,960 Speaker 2: dollars a ticket. 136 00:06:15,000 --> 00:06:15,719 Speaker 1: That's pretty steep. 137 00:06:15,720 --> 00:06:17,400 Speaker 2: So if you live in Washington, DC, it's not like 138 00:06:17,400 --> 00:06:20,640 Speaker 2: you're driving down to Fort Lauderdale right to save money 139 00:06:20,640 --> 00:06:23,520 Speaker 2: on your ticket. But I think this just goes to 140 00:06:23,560 --> 00:06:27,920 Speaker 2: show that if you only shop at the airport that's 141 00:06:27,960 --> 00:06:30,640 Speaker 2: nearest to you, you might be leaving out other potential 142 00:06:30,680 --> 00:06:33,760 Speaker 2: options to reduce the cost of your travel. So shop around, 143 00:06:33,800 --> 00:06:37,320 Speaker 2: set fair alerts, but also look to cheaper airports that 144 00:06:37,440 --> 00:06:39,440 Speaker 2: you might be able to reasonably fly from. 145 00:06:39,680 --> 00:06:42,240 Speaker 1: Yeah, I noticed you said LaGuardia. Does everyone say La 146 00:06:42,279 --> 00:06:46,000 Speaker 1: Guardia or LaGuardia Guardia? Is it? Why is it Guardia 147 00:06:46,040 --> 00:06:49,040 Speaker 1: because it's spelled just the last name? Oh is that? Yeah? 148 00:06:49,440 --> 00:06:50,960 Speaker 1: I don't know who that is? Based after a former 149 00:06:50,960 --> 00:06:54,719 Speaker 1: New York City mayor, Charles Well because like the like 150 00:06:54,720 --> 00:06:56,960 Speaker 1: the way you spell guard like, you don't pronounce it 151 00:06:57,000 --> 00:07:00,840 Speaker 1: like Gouard to the base you say guard Okay, multation over. 152 00:07:01,120 --> 00:07:08,039 Speaker 1: So regarding the different regarding the different airports. What's so 153 00:07:08,120 --> 00:07:10,560 Speaker 1: fascinating too, is the fact that one of the biggest differences, 154 00:07:10,640 --> 00:07:14,000 Speaker 1: or one of the biggest reasons for the price discrepancy, 155 00:07:14,120 --> 00:07:17,560 Speaker 1: is because of competition. Yeah, and so specifically Dalls, Like 156 00:07:17,720 --> 00:07:19,640 Speaker 1: I was really fascinating. I'm like, why is it so 157 00:07:19,720 --> 00:07:21,600 Speaker 1: much more expensive? Is it because that's where all the 158 00:07:21,640 --> 00:07:25,760 Speaker 1: politicians fly into and they are priced in sensitive? Perhaps, 159 00:07:25,880 --> 00:07:27,120 Speaker 1: but it also has a lot to do with the 160 00:07:27,160 --> 00:07:29,680 Speaker 1: different airlines that service that airport, and there's a lot 161 00:07:29,680 --> 00:07:33,520 Speaker 1: of competition there. But specifically United Airlines has over seventy 162 00:07:33,600 --> 00:07:36,920 Speaker 1: percent market share. They basically have a stranglehold, which means 163 00:07:37,120 --> 00:07:39,480 Speaker 1: they can set the prices high and you don't have 164 00:07:39,520 --> 00:07:42,280 Speaker 1: many other options to get around that as opposed. 165 00:07:41,880 --> 00:07:43,600 Speaker 2: To do you think Atlanta wasn't on that list? Yeah, 166 00:07:43,600 --> 00:07:45,720 Speaker 2: there's we got tons of different options. So no, no, no, no, 167 00:07:45,960 --> 00:07:48,280 Speaker 2: it wasn't on the list. Because Delta probably runs sixty 168 00:07:48,320 --> 00:07:50,160 Speaker 2: plus percent of the flights out of. 169 00:07:51,120 --> 00:07:54,040 Speaker 1: UMAN compared to the most expensive list, we do have 170 00:07:54,080 --> 00:07:55,600 Speaker 1: a lot of options. But I was going to say, 171 00:07:55,600 --> 00:07:58,560 Speaker 1: guess the market share of United at Fort Lauderdale. So 172 00:07:59,080 --> 00:08:02,280 Speaker 1: at Dallas it's seven twenty percent. At Fort Lauderdale. Any guesses, 173 00:08:02,360 --> 00:08:06,480 Speaker 1: I'm I guess fifteen eight okay, eight percent, so and 174 00:08:06,560 --> 00:08:09,080 Speaker 1: that's much lower compared to I think the top three 175 00:08:09,520 --> 00:08:14,200 Speaker 1: where Spirit Jet Blue in Southwest, which sense like the 176 00:08:14,240 --> 00:08:17,880 Speaker 1: low cost affordable airlines provides that competition, and that's a 177 00:08:17,960 --> 00:08:21,160 Speaker 1: huge driving factor behind why there's such a price discrepancy 178 00:08:21,240 --> 00:08:21,560 Speaker 1: as well. 179 00:08:21,600 --> 00:08:23,920 Speaker 2: And so when there is a major airline based out 180 00:08:23,960 --> 00:08:27,320 Speaker 2: of that city who runs, they kind of run the show. 181 00:08:27,680 --> 00:08:30,200 Speaker 2: They're going to have a lot more pricing power and 182 00:08:30,240 --> 00:08:31,880 Speaker 2: they can kind of keep some people out. I mean, 183 00:08:31,920 --> 00:08:35,280 Speaker 2: Southwest came to Atlanta a few years back, but they're 184 00:08:35,320 --> 00:08:37,600 Speaker 2: even talking about reducing flights. So I'm guessing the situation, 185 00:08:37,720 --> 00:08:41,319 Speaker 2: the pricing situation in coming to and from the Atlanta airport, 186 00:08:41,320 --> 00:08:42,680 Speaker 2: it's only going to get worse, like get a little 187 00:08:42,679 --> 00:08:45,840 Speaker 2: stiffer in the coming years. Okay, let's keep talking about travel, Matt. 188 00:08:45,880 --> 00:08:49,640 Speaker 2: As more airline frequent flyer programs have put the emphasis 189 00:08:49,679 --> 00:08:52,199 Speaker 2: on how much you spend versus how often you travel. 190 00:08:52,240 --> 00:08:54,800 Speaker 2: It's all about, you know, spending more money on tickets 191 00:08:54,840 --> 00:08:58,320 Speaker 2: instead of just flying regularly. Folks are opting to play 192 00:08:58,320 --> 00:09:00,880 Speaker 2: the field in attempts to save money, saying, ah, I 193 00:09:00,880 --> 00:09:03,480 Speaker 2: don't think I'm gonna book with the airline, and normally 194 00:09:03,480 --> 00:09:05,840 Speaker 2: I go with a particular airline because I'm used to 195 00:09:05,880 --> 00:09:08,040 Speaker 2: flying them. But people are saying I'm gonna be a 196 00:09:08,080 --> 00:09:11,560 Speaker 2: little less loyal moving forward. And we've always said that 197 00:09:11,679 --> 00:09:13,880 Speaker 2: being loyal to one brand or one airline it's a 198 00:09:13,880 --> 00:09:17,680 Speaker 2: bad idea because it's gonna cost you money. Right, But 199 00:09:17,760 --> 00:09:20,240 Speaker 2: even for normal people who only travel a few times 200 00:09:20,360 --> 00:09:23,640 Speaker 2: a year, some of those loyalty perks, like when combined 201 00:09:23,679 --> 00:09:26,920 Speaker 2: with let's say a proprietary credit card, they could result 202 00:09:26,960 --> 00:09:30,240 Speaker 2: in some pretty sweet benefits for travelers, potentially enough to 203 00:09:30,360 --> 00:09:33,560 Speaker 2: justify a higher ticket price. But I think those days 204 00:09:33,600 --> 00:09:36,200 Speaker 2: are coming to an end, and we are all for 205 00:09:36,280 --> 00:09:38,800 Speaker 2: loyalty in some areas of life, right, like friendship and love. 206 00:09:38,920 --> 00:09:40,680 Speaker 2: Like Matt, you and I were loyal to each other. 207 00:09:40,720 --> 00:09:42,720 Speaker 2: We're gonna be best friends, yeah, boy forever. 208 00:09:43,600 --> 00:09:47,600 Speaker 1: But move over, Zach Braff and Donald Fason. We're better 209 00:09:47,640 --> 00:09:50,719 Speaker 1: than that. We're real friends. We're real, real friends. They're 210 00:09:50,760 --> 00:09:52,959 Speaker 1: real friends too, right, Evidently. Yeah, we haven't gotten that 211 00:09:53,000 --> 00:09:56,600 Speaker 1: T mobile commercial yet though, you know, Kate, I I've 212 00:09:56,600 --> 00:09:59,360 Speaker 1: debated watching Scrubs with the kids because it was one 213 00:09:59,400 --> 00:10:02,520 Speaker 1: of our favorite shows back in college. And every time 214 00:10:02,600 --> 00:10:05,640 Speaker 1: those T mobile commercials come on, they just totally crack up. 215 00:10:05,720 --> 00:10:07,720 Speaker 1: They think that they are so funny, and they are. 216 00:10:07,800 --> 00:10:09,280 Speaker 1: And Kate and I looked at each other, We're just like, 217 00:10:09,280 --> 00:10:12,280 Speaker 1: oh my gosh, they would so enjoy scrubs. I'm not 218 00:10:12,320 --> 00:10:14,200 Speaker 1: totally sure how appropriate that would be for a six 219 00:10:14,320 --> 00:10:17,120 Speaker 1: year old. That's a seven year old. That's a good question. Okay. 220 00:10:17,160 --> 00:10:19,800 Speaker 2: So loyalty it's great in some areas, not great in others, 221 00:10:19,880 --> 00:10:23,360 Speaker 2: specifically when we're talking about airlines for most people. Right, So, yeah, 222 00:10:23,760 --> 00:10:25,920 Speaker 2: if you're in the position if you find that your 223 00:10:26,000 --> 00:10:30,440 Speaker 2: perks have diminished from the airline that you typically fly with, 224 00:10:30,679 --> 00:10:33,680 Speaker 2: but the price of your ticket hasn't and airfares are 225 00:10:33,720 --> 00:10:36,960 Speaker 2: going up, folks, look elsewhere. Google Flights is like the 226 00:10:37,080 --> 00:10:41,120 Speaker 2: proper place to start searching. Oh yeah, be more interested 227 00:10:41,400 --> 00:10:43,480 Speaker 2: in paying the least amount of money for the fair 228 00:10:43,640 --> 00:10:45,079 Speaker 2: as opposed to going with. 229 00:10:45,040 --> 00:10:47,400 Speaker 1: The airline you're used to flying. Yeah, shopping around is 230 00:10:47,400 --> 00:10:49,040 Speaker 1: going to pay off, man. But on top of that, 231 00:10:49,120 --> 00:10:52,240 Speaker 1: every trip is on sale because of the current strength 232 00:10:52,280 --> 00:10:55,120 Speaker 1: of the dollar. Friend of the show Elaying Glusac, she 233 00:10:55,160 --> 00:10:57,679 Speaker 1: wrote about this over in The Times and she found 234 00:10:57,679 --> 00:11:00,000 Speaker 1: that a hotel room in Europe that costs two hundred 235 00:11:00,080 --> 00:11:03,120 Speaker 1: twenty four dollars last summer cost only two hundred and 236 00:11:03,160 --> 00:11:07,200 Speaker 1: eight dollars today. So it's not just that the dollar 237 00:11:07,280 --> 00:11:10,440 Speaker 1: is more competitive against the euro, but the Japanese yend 238 00:11:10,520 --> 00:11:14,000 Speaker 1: the Canadian dollar, they have also become weaker compared to 239 00:11:14,200 --> 00:11:18,240 Speaker 1: the to the US dollar. Basically because of favorable exchange rates. 240 00:11:18,240 --> 00:11:22,319 Speaker 1: Your money goes further in many overseas countries and destinations 241 00:11:22,360 --> 00:11:25,040 Speaker 1: right now, and so don't only think about the cost 242 00:11:25,080 --> 00:11:28,080 Speaker 1: of the flight in and of itself, granted that is 243 00:11:28,280 --> 00:11:30,679 Speaker 1: a huge part of the cost of afacation, but also 244 00:11:30,760 --> 00:11:33,880 Speaker 1: think about how much everything else is gonna cost during 245 00:11:33,880 --> 00:11:35,680 Speaker 1: your stay as well. Gives you the chance to go 246 00:11:35,760 --> 00:11:39,160 Speaker 1: abroad and maybe live a little bit beyond your not 247 00:11:39,200 --> 00:11:42,000 Speaker 1: beyond your means, but maybe just a slightly fancier trip 248 00:11:42,040 --> 00:11:44,600 Speaker 1: than maybe what you're used to. It feels like you're 249 00:11:44,640 --> 00:11:46,679 Speaker 1: living above your means because when you go over there, 250 00:11:46,720 --> 00:11:49,000 Speaker 1: you're like, wait a second, my money goes further. And 251 00:11:49,000 --> 00:11:51,480 Speaker 1: so it feels like with every purchase you make, or 252 00:11:51,720 --> 00:11:53,560 Speaker 1: or going out to eat or something like that, or 253 00:11:53,600 --> 00:11:56,800 Speaker 1: the hotel that you're paying for, it shall cost a 254 00:11:56,800 --> 00:11:59,000 Speaker 1: little bit less because it's a dollar strong. Yeah, it 255 00:11:59,000 --> 00:12:02,040 Speaker 1: feels like this is everything ten percent of what's feel 256 00:12:02,040 --> 00:12:05,200 Speaker 1: like exactly exactly exactly, which is pretty sweet feeling. Matt. 257 00:12:05,280 --> 00:12:08,439 Speaker 2: Let's talk about credit cards. I see that article discussed 258 00:12:08,440 --> 00:12:11,400 Speaker 2: the secondary benefits of credit cards, and that's something that 259 00:12:11,440 --> 00:12:13,800 Speaker 2: we sing the praises of that. It's not just the 260 00:12:13,840 --> 00:12:16,120 Speaker 2: two percent cash back or the travel rewards, although those 261 00:12:16,160 --> 00:12:20,080 Speaker 2: are great. There are other benefits of credit cards as well, 262 00:12:21,120 --> 00:12:23,679 Speaker 2: you know, and some of them don't get touted all 263 00:12:23,679 --> 00:12:26,079 Speaker 2: that much, really, but they can be incredibly rewarding. And 264 00:12:26,120 --> 00:12:28,120 Speaker 2: so this author has seen that they got a new 265 00:12:28,160 --> 00:12:33,040 Speaker 2: battery for their iPhone without having and paying for Apple Care, 266 00:12:33,320 --> 00:12:36,160 Speaker 2: and that was thanks to the Chase Freedom Flex card 267 00:12:36,640 --> 00:12:38,400 Speaker 2: saved them ninety bucks because that's what it would have 268 00:12:38,400 --> 00:12:40,680 Speaker 2: cost otherwise. I think this is I just wanted to 269 00:12:40,720 --> 00:12:43,120 Speaker 2: use this as a reminder to tell people not to 270 00:12:43,200 --> 00:12:46,760 Speaker 2: sleep on the secondary benefits of that credit cards have 271 00:12:46,760 --> 00:12:49,880 Speaker 2: to offer. Like you can snag cell phone insurance or 272 00:12:50,000 --> 00:12:53,679 Speaker 2: no foreign transaction fees, or trip cancelation coverage or baggage 273 00:12:53,679 --> 00:12:56,960 Speaker 2: delay insurance or purchase production or a longer extended warranty. 274 00:12:57,160 --> 00:13:00,240 Speaker 2: There are just so many things that are under the 275 00:13:00,240 --> 00:13:02,920 Speaker 2: surface oftentimes that most people don't realize. You're like, oh, 276 00:13:02,920 --> 00:13:04,600 Speaker 2: I get the two percent cash back, or I'm getting 277 00:13:04,600 --> 00:13:06,720 Speaker 2: the five percent back when I when I pay for 278 00:13:06,760 --> 00:13:09,000 Speaker 2: gas and those things. That's awesome, Like I'm all for 279 00:13:09,040 --> 00:13:11,360 Speaker 2: those rewards. But then there are these other ones that 280 00:13:11,400 --> 00:13:14,400 Speaker 2: most people I think they just forget or they neglect 281 00:13:14,559 --> 00:13:17,000 Speaker 2: to think about, and they can be pretty rewarding too. 282 00:13:17,120 --> 00:13:20,199 Speaker 1: I'll forget about the CDW man, the colision damage waiver. 283 00:13:20,280 --> 00:13:22,880 Speaker 1: Get that primary benefit that's stuff when you travel, and 284 00:13:23,040 --> 00:13:25,920 Speaker 1: that's so that's a massive if you travel at least 285 00:13:25,920 --> 00:13:27,599 Speaker 1: a week a year, you want that benefit that you 286 00:13:27,600 --> 00:13:29,880 Speaker 1: would use regularly as well as opposed to just when 287 00:13:29,880 --> 00:13:33,439 Speaker 1: things go poorly. Yeah, but I guess if you get 288 00:13:33,440 --> 00:13:36,280 Speaker 1: in direct things have gone poorly, but it's it's paying 289 00:13:36,280 --> 00:13:38,280 Speaker 1: for the insurance to make sure that you are covered 290 00:13:38,320 --> 00:13:40,400 Speaker 1: in case something like that were to happen. One of 291 00:13:40,440 --> 00:13:42,800 Speaker 1: the other benefits, too, is that those credit card credit 292 00:13:42,840 --> 00:13:45,560 Speaker 1: card rewards, they don't get taxed, which of course we're 293 00:13:45,600 --> 00:13:47,880 Speaker 1: thankful for. It's one of the only ways that we 294 00:13:47,920 --> 00:13:50,880 Speaker 1: can avoid the tax man. The thrift y traveler, they 295 00:13:50,880 --> 00:13:54,480 Speaker 1: had an article about this particular subject. And it's worth 296 00:13:54,520 --> 00:13:57,959 Speaker 1: mentioning that some kinds of credit card rewards actually will 297 00:13:58,320 --> 00:14:01,280 Speaker 1: result in taxation. You don't have to worry about your 298 00:14:01,320 --> 00:14:03,679 Speaker 1: sign up bonus that doesn't get taxed. It's treated as 299 00:14:03,720 --> 00:14:07,320 Speaker 1: a like a rebate essentially for your spending your two 300 00:14:07,320 --> 00:14:09,880 Speaker 1: percent cash back, your travel points. They're not gonna get 301 00:14:09,880 --> 00:14:12,880 Speaker 1: taxed either. But and this is news to me man 302 00:14:13,000 --> 00:14:16,400 Speaker 1: referral bonuses, they do get taxed. I didn't know this. 303 00:14:16,480 --> 00:14:18,520 Speaker 1: And so if you send your friend a link to 304 00:14:18,600 --> 00:14:20,880 Speaker 1: sign up for one of your favorite cards, if you 305 00:14:20,960 --> 00:14:23,400 Speaker 1: are one of those credit card optimizers out there and 306 00:14:23,440 --> 00:14:25,240 Speaker 1: you're trying to get everyone on board, just credit card 307 00:14:25,360 --> 00:14:28,520 Speaker 1: pusher slashy, you're also trying to like earner your own rewards, 308 00:14:28,840 --> 00:14:30,880 Speaker 1: you're gonna get it ten ninety nine for the bonus 309 00:14:31,080 --> 00:14:34,160 Speaker 1: that you receive if they sign up. And even if 310 00:14:34,160 --> 00:14:36,760 Speaker 1: the bonus came in the form of miles, you are 311 00:14:36,800 --> 00:14:40,560 Speaker 1: supposed to pay tax. So you know, I'm not totally 312 00:14:40,560 --> 00:14:42,160 Speaker 1: sure what the follow through rate is when it comes 313 00:14:42,200 --> 00:14:43,920 Speaker 1: to some of the different banks, but don't be surprised 314 00:14:43,960 --> 00:14:46,440 Speaker 1: if you receive a ten ninety nine in the mail 315 00:14:46,920 --> 00:14:47,360 Speaker 1: for that. 316 00:14:48,120 --> 00:14:50,800 Speaker 2: Yeah, heads up, all right, Matt, let's talk about getting 317 00:14:50,840 --> 00:14:53,760 Speaker 2: paid from your employer and I getting paid. Yeah, sometimes 318 00:14:53,840 --> 00:14:57,760 Speaker 2: pay comes in the form of non monetary compensation, right. 319 00:14:58,000 --> 00:15:00,920 Speaker 2: We always talk about looking at your your total compensation 320 00:15:01,000 --> 00:15:03,960 Speaker 2: package when you're looking for a job, or you're trying 321 00:15:03,960 --> 00:15:06,280 Speaker 2: to assess the benefits of a job offer you have, 322 00:15:06,600 --> 00:15:09,880 Speaker 2: or even just like kind of thinking, well, how competitive 323 00:15:09,960 --> 00:15:12,480 Speaker 2: is the pay that I'm earning currently where I'm at 324 00:15:12,880 --> 00:15:15,240 Speaker 2: versus what maybe a friend or what other people in 325 00:15:15,280 --> 00:15:17,960 Speaker 2: the industry are earning somewhere else, somewhere down the street. Well, 326 00:15:18,040 --> 00:15:20,840 Speaker 2: the Wall Street Journal just wrote about why one perk 327 00:15:21,200 --> 00:15:25,760 Speaker 2: that looks great it really isn't, And that's unlimited vacation time. 328 00:15:26,400 --> 00:15:28,800 Speaker 2: This is something like that I feel like I've seen 329 00:15:28,840 --> 00:15:32,920 Speaker 2: popping up more and more as companies offering Hey, no, no, no, 330 00:15:32,720 --> 00:15:35,720 Speaker 2: it's not just two weeks of PTO. You can take 331 00:15:35,720 --> 00:15:38,840 Speaker 2: as much time off as you want. And that's kind 332 00:15:38,840 --> 00:15:42,480 Speaker 2: of the pitch. That's the cell from the company that 333 00:15:42,560 --> 00:15:48,040 Speaker 2: you can travel as frequently as you desire. But everyone 334 00:15:48,080 --> 00:15:49,600 Speaker 2: I've talked to, I don't know about you, Matt, who 335 00:15:49,680 --> 00:15:52,480 Speaker 2: has this benefit, they don't feel okay using it. So 336 00:15:52,800 --> 00:15:54,960 Speaker 2: this sounds like a great perk but in reality maybe 337 00:15:55,000 --> 00:15:57,560 Speaker 2: doesn't play out so well. That kind of the unspoken 338 00:15:57,640 --> 00:16:01,840 Speaker 2: rules dictate that you're not supposed to abuse your newfound freedom, 339 00:16:01,920 --> 00:16:03,680 Speaker 2: like the ability to travel as much as you want, 340 00:16:03,880 --> 00:16:06,360 Speaker 2: which I think actually causes people from what I can 341 00:16:06,560 --> 00:16:08,680 Speaker 2: from what I can tell, to take even less time 342 00:16:08,720 --> 00:16:12,840 Speaker 2: off than they're allowed. It's a sad reality. But I 343 00:16:12,880 --> 00:16:15,520 Speaker 2: would say, make sure to look this gift horse in 344 00:16:15,560 --> 00:16:18,320 Speaker 2: the mouth and ask about how this benefit functions in reality. 345 00:16:18,320 --> 00:16:20,520 Speaker 2: If you're applying for a job and the employer says, hey, 346 00:16:20,520 --> 00:16:22,520 Speaker 2: this is one of the perks we offer, I would 347 00:16:22,560 --> 00:16:24,960 Speaker 2: want to know more about how that actually works and 348 00:16:25,440 --> 00:16:28,680 Speaker 2: whether people actually take a significant amount of time off, 349 00:16:28,680 --> 00:16:31,560 Speaker 2: because we're always talking about how Americans don't taken off 350 00:16:31,640 --> 00:16:34,320 Speaker 2: their vacation time. If they have like a specific amount allotted, 351 00:16:34,480 --> 00:16:36,760 Speaker 2: they never take the full amount. We should all be 352 00:16:36,800 --> 00:16:39,600 Speaker 2: taken our vacation man, Like it's one of those perks 353 00:16:39,840 --> 00:16:42,560 Speaker 2: that we've earned that we deserve and all work and 354 00:16:42,600 --> 00:16:43,880 Speaker 2: no play makes us pretty dull too. 355 00:16:44,080 --> 00:16:46,200 Speaker 1: Yeah, I totally agree. It feels like one of those 356 00:16:46,200 --> 00:16:49,040 Speaker 1: things where it's a benefit that like I don't even 357 00:16:49,080 --> 00:16:50,800 Speaker 1: know if this exists, but like it makes me think 358 00:16:50,840 --> 00:16:52,880 Speaker 1: if you go to like an arcade and it's just 359 00:16:52,920 --> 00:16:55,800 Speaker 1: like if you get this wrisk band, it's unlimited coke refills, 360 00:16:55,880 --> 00:16:57,280 Speaker 1: or like if you buy the special cup at a 361 00:16:57,280 --> 00:16:59,760 Speaker 1: gas station, it's like anytime you come in with your cup, 362 00:16:59,800 --> 00:17:03,400 Speaker 1: you just drink whatever you want. But the reality is 363 00:17:03,400 --> 00:17:05,000 Speaker 1: is how much are you actually how much soda are 364 00:17:05,000 --> 00:17:06,359 Speaker 1: you actually going to drink? And do you want to 365 00:17:06,440 --> 00:17:10,000 Speaker 1: drink an unlimited amount of coke? Like every time I'm 366 00:17:10,040 --> 00:17:12,480 Speaker 1: gonna drink till kidney failures. Kenny feels like something where 367 00:17:12,480 --> 00:17:14,760 Speaker 1: it's just like on paper, it seems appealing until you 368 00:17:14,760 --> 00:17:16,320 Speaker 1: actually start thinking through it and it's just like, well, 369 00:17:16,320 --> 00:17:19,240 Speaker 1: what's the actual reality of me taking full advantage of this? 370 00:17:19,920 --> 00:17:22,080 Speaker 1: And when it comes to time off, it's like, Okay, 371 00:17:22,119 --> 00:17:24,000 Speaker 1: are we talking about how great it would be to 372 00:17:24,040 --> 00:17:26,119 Speaker 1: take unlimited time off or maybe we just need to 373 00:17:26,119 --> 00:17:28,760 Speaker 1: actually take the time off based on a normal amount 374 00:17:28,760 --> 00:17:31,840 Speaker 1: of vacation days. And certainly it probably should be higher 375 00:17:31,840 --> 00:17:35,560 Speaker 1: in the US because we're such a work performance, productivity 376 00:17:35,680 --> 00:17:38,320 Speaker 1: driven culture. But I think that's something else to keep 377 00:17:38,320 --> 00:17:41,280 Speaker 1: in mind as well. Another typical perk that we not 378 00:17:41,440 --> 00:17:44,040 Speaker 1: we joel, but that most folks often get from their employer. 379 00:17:44,080 --> 00:17:47,800 Speaker 1: Our employers stage is health insurance. But as we're seeing 380 00:17:47,840 --> 00:17:51,080 Speaker 1: a rise in small business formation entrepreneurs, they got to 381 00:17:51,080 --> 00:17:54,640 Speaker 1: figure out how to get coverage without bankrupting themselves, which 382 00:17:54,680 --> 00:17:56,800 Speaker 1: is like the whole point of starting a business is 383 00:17:56,800 --> 00:18:00,879 Speaker 1: maybe for this to succeed. Vox they detailed the rise 384 00:18:00,960 --> 00:18:05,240 Speaker 1: of health sharing companies, not health care companies, but they 385 00:18:05,280 --> 00:18:07,920 Speaker 1: are growing quickly. These health sharing companies. Almost two million 386 00:18:07,920 --> 00:18:11,800 Speaker 1: Americans find themselves on one of these plans that look 387 00:18:11,960 --> 00:18:16,800 Speaker 1: like health insurance, but they have meaningful differences, and it's 388 00:18:16,840 --> 00:18:18,840 Speaker 1: basically the number of folks that are on these plants 389 00:18:18,840 --> 00:18:21,720 Speaker 1: have doubled in the past several in the past few years. 390 00:18:22,040 --> 00:18:26,760 Speaker 1: So look into them because they like there's significant savings 391 00:18:26,760 --> 00:18:29,240 Speaker 1: to be had, but do be careful, know the fine print, 392 00:18:29,320 --> 00:18:32,600 Speaker 1: know the exclusions. Juel and I we are both on 393 00:18:32,760 --> 00:18:35,600 Speaker 1: metas Share specifically they've worked well for us, but we 394 00:18:35,640 --> 00:18:38,520 Speaker 1: also haven't tested the limits, although some friends of ours have. 395 00:18:38,680 --> 00:18:40,880 Speaker 1: I think about some some good friends, and I think 396 00:18:40,920 --> 00:18:44,040 Speaker 1: it was literally the year after they joined on, she 397 00:18:44,480 --> 00:18:47,360 Speaker 1: ruptured or tore her achilles, and they were also like, well, 398 00:18:47,400 --> 00:18:50,800 Speaker 1: we were thinking about getting tonsils removed and adenoids as 399 00:18:50,840 --> 00:18:52,480 Speaker 1: well from like one of their whatever that is. I 400 00:18:52,520 --> 00:18:53,920 Speaker 1: don't know. I think it's in your mouth. 401 00:18:53,880 --> 00:18:54,480 Speaker 2: Somewhere, your throat. 402 00:18:55,400 --> 00:18:57,399 Speaker 1: But they did all of that within a year because 403 00:18:57,400 --> 00:18:58,959 Speaker 1: they were gonna they knew that they're going to hit 404 00:18:59,000 --> 00:19:02,560 Speaker 1: their what's called the annual household portion, and it worked 405 00:19:02,560 --> 00:19:05,800 Speaker 1: incredibly well for them, which was really encouraging because I'm like, 406 00:19:05,840 --> 00:19:07,840 Speaker 1: all right, I'm pretty sure this is going to work out. 407 00:19:08,000 --> 00:19:10,320 Speaker 1: And I think we'd even kind of steered them in 408 00:19:10,680 --> 00:19:13,200 Speaker 1: like that direction because they were paying an inordinate amount 409 00:19:13,240 --> 00:19:16,479 Speaker 1: of it was a little nervous. I'm just like, oh man, 410 00:19:16,520 --> 00:19:18,000 Speaker 1: how this works out. It worked out great for them. 411 00:19:18,359 --> 00:19:20,280 Speaker 1: I love the fact that more people are getting on this. 412 00:19:20,440 --> 00:19:22,359 Speaker 1: I was talking to a nurse friend a few days ago. 413 00:19:23,240 --> 00:19:25,680 Speaker 1: So she's a nurse, she works within the health care industry, 414 00:19:26,119 --> 00:19:28,240 Speaker 1: and I don't know how. We got to talking about 415 00:19:28,240 --> 00:19:30,720 Speaker 1: healthcare and I was I kind of sheepishly was like, yeah, 416 00:19:30,760 --> 00:19:33,159 Speaker 1: I don't know, I rarely go to the doctor. And 417 00:19:33,480 --> 00:19:36,280 Speaker 1: got to talking about health sharing. And you would expect 418 00:19:36,280 --> 00:19:38,320 Speaker 1: with her that she'd be on some sort of Cadillac 419 00:19:38,960 --> 00:19:44,000 Speaker 1: Premium Primo healthcare plus health Care Prime health account job, 420 00:19:44,040 --> 00:19:46,480 Speaker 1: but all the healthcare you can eat. She is on 421 00:19:46,600 --> 00:19:49,320 Speaker 1: a health sharing plan. Wow, because she's like, yeah, so 422 00:19:49,520 --> 00:19:52,359 Speaker 1: s thinking expensive, Like we don't even pay for the 423 00:19:52,440 --> 00:19:54,960 Speaker 1: kind of coverage that we often take at the hospital. 424 00:19:55,160 --> 00:19:58,320 Speaker 1: Blew my mind. But it's just evidence of the fact 425 00:19:58,359 --> 00:20:01,960 Speaker 1: that that's an area an industry that needs a little 426 00:20:01,960 --> 00:20:04,280 Speaker 1: bit of a reform, and I'm glad that there's competition. 427 00:20:03,920 --> 00:20:06,159 Speaker 2: And not everyone can choose to go this routelet right, 428 00:20:06,160 --> 00:20:08,120 Speaker 2: We were like literally talking to a friend last night 429 00:20:08,200 --> 00:20:12,760 Speaker 2: who has a young daughter who has had cancer for many, 430 00:20:12,760 --> 00:20:14,879 Speaker 2: many years. They have a lot of employments they have 431 00:20:14,920 --> 00:20:17,920 Speaker 2: to go to. It gets really expensive, and so their 432 00:20:18,359 --> 00:20:21,719 Speaker 2: employment decisions are largely based around healthcare, which makes total 433 00:20:21,840 --> 00:20:25,240 Speaker 2: sense for them. But for other families like we have 434 00:20:25,320 --> 00:20:28,480 Speaker 2: been pretty fortunate on the healthcare front, and so we're 435 00:20:28,520 --> 00:20:32,080 Speaker 2: able to go opt for something like this in order 436 00:20:32,119 --> 00:20:35,120 Speaker 2: to reduce our out of pocket on a monthly basis, 437 00:20:35,400 --> 00:20:38,160 Speaker 2: and figures crossed that it saves us money over time 438 00:20:38,400 --> 00:20:41,320 Speaker 2: because we're just not shelling out as much for healthcare overall. 439 00:20:41,440 --> 00:20:45,440 Speaker 2: But again, this is a personal decision, and more Americans 440 00:20:45,440 --> 00:20:49,000 Speaker 2: are choosing some of these health sharing options because they 441 00:20:49,000 --> 00:20:52,280 Speaker 2: are saving the money. But the trade offs are a 442 00:20:52,280 --> 00:20:54,520 Speaker 2: crucial thing to take into account. All right, Map, We've 443 00:20:54,560 --> 00:20:57,160 Speaker 2: got more to get to on this episode, including where 444 00:20:57,160 --> 00:20:59,520 Speaker 2: you talk about some of the worst places to borrow money. 445 00:20:59,600 --> 00:21:02,960 Speaker 2: Borrowing money has gotten more expensive over the past couple 446 00:21:03,000 --> 00:21:04,680 Speaker 2: of years. We'll talk about that and whether or not 447 00:21:04,680 --> 00:21:06,200 Speaker 2: you're gonna get a five thousand dollars check in the 448 00:21:06,240 --> 00:21:07,960 Speaker 2: mail from the government right after this. 449 00:21:15,840 --> 00:21:17,800 Speaker 1: All right, Joel, we are back from the break and 450 00:21:17,880 --> 00:21:20,720 Speaker 1: of course it is now time for the ludicrous headline 451 00:21:20,760 --> 00:21:23,359 Speaker 1: of the week. It's from c NETS. The headline reads, 452 00:21:23,840 --> 00:21:27,600 Speaker 1: is a tax prep service promising you a huge tax refund? 453 00:21:27,960 --> 00:21:30,360 Speaker 1: It could be a scam, Joel. We're sharing this one 454 00:21:30,359 --> 00:21:32,520 Speaker 1: because we want folks to know that if you have 455 00:21:33,240 --> 00:21:36,920 Speaker 1: a burning desire to get a massive, huge tax refund, well, 456 00:21:36,960 --> 00:21:39,840 Speaker 1: it can interfere with your decision making skills. It can 457 00:21:39,880 --> 00:21:42,359 Speaker 1: cause you to fall prey to what's being called a 458 00:21:42,480 --> 00:21:46,000 Speaker 1: ghost tax preparer. Yeah spooky, yeah Bay? Is it a 459 00:21:46,000 --> 00:21:50,480 Speaker 1: friendly ghost like Casper or friendly? So essentially, if a 460 00:21:50,520 --> 00:21:54,080 Speaker 1: so called tax preparer is highlighting how big of the 461 00:21:54,119 --> 00:21:56,960 Speaker 1: refund they can help you to get before knowing your specifics, 462 00:21:57,440 --> 00:22:00,320 Speaker 1: the alarm bells should be going off. The way it 463 00:22:00,320 --> 00:22:02,200 Speaker 1: works is that individual is going to then file your 464 00:22:02,200 --> 00:22:06,240 Speaker 1: return with fake deductions with credits that you don't actually 465 00:22:06,320 --> 00:22:09,879 Speaker 1: qualify for, and of course they're gonna then charge you 466 00:22:09,920 --> 00:22:12,679 Speaker 1: based on a percentage of your overall tax refund, so 467 00:22:12,720 --> 00:22:16,200 Speaker 1: they are incentivized to get as many deductions in their 468 00:22:16,280 --> 00:22:18,760 Speaker 1: ass possible. It raises how much you are going to 469 00:22:18,800 --> 00:22:22,760 Speaker 1: then pay them, but then your prepare disappears, you're left 470 00:22:22,760 --> 00:22:24,840 Speaker 1: cleaning up the mess. This is not the kind of 471 00:22:24,880 --> 00:22:26,600 Speaker 1: situation you want to find yourself in, and so if 472 00:22:26,640 --> 00:22:29,720 Speaker 1: you want tax help, we would recommend for you to 473 00:22:29,760 --> 00:22:33,800 Speaker 1: ask around to friends, ask for recommendations. Don't go rogue 474 00:22:33,800 --> 00:22:36,240 Speaker 1: on such an important hire like this as you're doing 475 00:22:36,240 --> 00:22:38,640 Speaker 1: your own homework. Make sure that the tax preparer has 476 00:22:38,680 --> 00:22:42,359 Speaker 1: a Prepare tax identification number. If they're trying to file 477 00:22:42,400 --> 00:22:45,679 Speaker 1: your taxes, prepare your taxes without having that, they're breaking 478 00:22:45,680 --> 00:22:49,080 Speaker 1: the law. That's also another red flag. Make sure that 479 00:22:49,119 --> 00:22:52,160 Speaker 1: they've got a physical address as opposed to just this. Oh, 480 00:22:52,200 --> 00:22:55,200 Speaker 1: they've got a website. They seem totally legit, but it's 481 00:22:55,400 --> 00:22:57,600 Speaker 1: pretty easy to up and vanish in the middle of 482 00:22:57,600 --> 00:23:01,080 Speaker 1: the night with a website versus having a physical off 483 00:23:01,080 --> 00:23:03,320 Speaker 1: as a physical location, and this is so nefarious. 484 00:23:03,320 --> 00:23:07,040 Speaker 2: Matt because so many people they bank on that massive 485 00:23:07,080 --> 00:23:09,520 Speaker 2: refund every year. And if someone's kind of selling them 486 00:23:09,520 --> 00:23:11,240 Speaker 2: a bill of goods, like, hey, we'll get you the 487 00:23:11,280 --> 00:23:15,280 Speaker 2: bigger refund, like we have special tactics to score you 488 00:23:15,359 --> 00:23:16,119 Speaker 2: more money back. 489 00:23:15,960 --> 00:23:17,760 Speaker 1: From the federal You want to leave money on the table. 490 00:23:17,880 --> 00:23:20,119 Speaker 2: No, And that's so it sounds so promising, and you're like, well, 491 00:23:20,200 --> 00:23:21,959 Speaker 2: normally get like two grand, but this guy's saying I'm 492 00:23:21,960 --> 00:23:26,040 Speaker 2: gonna get like five or six. That is, you typically 493 00:23:26,040 --> 00:23:28,240 Speaker 2: want to walk down that road, except for in this 494 00:23:28,320 --> 00:23:31,640 Speaker 2: case it's totally false. You're gonna be in hot water 495 00:23:31,680 --> 00:23:33,919 Speaker 2: with the irs, which brings up the perpetual point of 496 00:23:33,920 --> 00:23:37,600 Speaker 2: contention come tax season, should you go tax software or 497 00:23:37,640 --> 00:23:40,360 Speaker 2: should you hire a tax pro and Kiplinger they did 498 00:23:40,359 --> 00:23:43,760 Speaker 2: a great job covering this. They basically suggested that software 499 00:23:43,800 --> 00:23:46,320 Speaker 2: is great for folks who take the standard deduction, who 500 00:23:46,400 --> 00:23:49,080 Speaker 2: only earn income as a W two employee, and who 501 00:23:49,200 --> 00:23:53,560 Speaker 2: only invest in traditional assets like stocks, and also for 502 00:23:53,600 --> 00:23:56,240 Speaker 2: folks who have lived in one state for the entire year. 503 00:23:56,280 --> 00:23:58,560 Speaker 2: So if you moved, you might want to hire somebody. 504 00:23:58,800 --> 00:24:01,760 Speaker 2: So if that's you, though, and you fall into all 505 00:24:01,760 --> 00:24:05,680 Speaker 2: those categories, use software like go with the free or 506 00:24:05,760 --> 00:24:09,639 Speaker 2: cheap options. Cash app in particular is still our favorite 507 00:24:09,640 --> 00:24:12,720 Speaker 2: because they're one hundred percent free for federal infrastate filing. 508 00:24:12,720 --> 00:24:14,720 Speaker 1: What it used to be called before cash app bought it. 509 00:24:14,600 --> 00:24:17,560 Speaker 2: It was credit credit car mattaxt credit. Yeah, and then 510 00:24:17,600 --> 00:24:18,920 Speaker 2: cash at bought it from them, and. 511 00:24:19,640 --> 00:24:21,080 Speaker 1: It's continued to do an excellent job. 512 00:24:21,200 --> 00:24:23,080 Speaker 2: Excellent job, and it's more robust than a lot of 513 00:24:23,080 --> 00:24:26,840 Speaker 2: the other free services, even the IRS Direct file service. 514 00:24:27,480 --> 00:24:30,560 Speaker 2: But let's say you don't meet all those requirements or 515 00:24:30,560 --> 00:24:32,760 Speaker 2: are you you know, you've got to come from another 516 00:24:32,760 --> 00:24:35,800 Speaker 2: source or you itemize your deductions, right, If you have 517 00:24:35,840 --> 00:24:38,560 Speaker 2: more complexity, it's often worth the cost to hire a 518 00:24:38,560 --> 00:24:40,840 Speaker 2: pro as long as they're not one of those ghost 519 00:24:40,880 --> 00:24:43,159 Speaker 2: prepares that I just talked about. Make sure they're a 520 00:24:43,240 --> 00:24:45,320 Speaker 2: legit tax prepare. They know what they're doing. 521 00:24:45,520 --> 00:24:47,639 Speaker 1: So it's hard for me to hear you say ghosts 522 00:24:47,640 --> 00:24:49,520 Speaker 1: prepare it and not think of ghost peppers. Remember back 523 00:24:49,520 --> 00:24:52,640 Speaker 1: when ghost peppers were all the rage? No, when were 524 00:24:52,640 --> 00:24:55,280 Speaker 1: they all the rage? Like fifteen years ago, oh something 525 00:24:55,320 --> 00:24:57,080 Speaker 1: like that. That's like when all these like super hot 526 00:24:57,080 --> 00:25:00,000 Speaker 1: peppers started king. I hear ghosts prepare, I think ghost pets. 527 00:25:00,280 --> 00:25:02,200 Speaker 1: Uh huh, that's when that's the first time ever heard 528 00:25:02,240 --> 00:25:05,199 Speaker 1: of like the Skulville heat like that, which I know 529 00:25:05,240 --> 00:25:08,000 Speaker 1: about from Hot Ones, right, which I've never watched, actually 530 00:25:08,080 --> 00:25:11,040 Speaker 1: never seen an episode of Hot Ones. No. I mean, okay, 531 00:25:11,040 --> 00:25:14,119 Speaker 1: you got to watch the Conan O'Brien episode. It's insane. 532 00:25:14,160 --> 00:25:16,359 Speaker 1: That's funny. It's so funny, I guess, Okay, sounds entertaining. 533 00:25:16,480 --> 00:25:17,800 Speaker 1: I guess. I just think of folks who are like 534 00:25:17,920 --> 00:25:19,720 Speaker 1: going after the hottest pepper and it's like, oh, this 535 00:25:19,800 --> 00:25:21,639 Speaker 1: one because the ghost pepper used to be the hottest 536 00:25:21,640 --> 00:25:24,080 Speaker 1: and now there's other hybrids that they've come out with, 537 00:25:24,440 --> 00:25:26,919 Speaker 1: and it's like, well, this one's got two million Skulville 538 00:25:27,080 --> 00:25:29,560 Speaker 1: units or whatever. It's just not something I'm interested in 539 00:25:29,680 --> 00:25:32,280 Speaker 1: at some point. Humans, Uh, why would you want to 540 00:25:32,320 --> 00:25:34,119 Speaker 1: do that? To you? Just do it? And plus like 541 00:25:34,160 --> 00:25:35,680 Speaker 1: it makes me think about I want to eat like 542 00:25:35,680 --> 00:25:40,040 Speaker 1: a mildly hot peppers. Well, Joe, let's talk about debt, 543 00:25:40,280 --> 00:25:43,840 Speaker 1: because we are not debt and enthusiasts, but we're also 544 00:25:44,080 --> 00:25:47,359 Speaker 1: not debt haters to the core. Some types of debt, 545 00:25:47,400 --> 00:25:50,080 Speaker 1: when used wisely in moderation, we think can help you 546 00:25:50,119 --> 00:25:53,120 Speaker 1: to accelerate your different financial goals. We're talking about things 547 00:25:53,160 --> 00:25:56,399 Speaker 1: like a mortgage, maybe a small amount of student loans 548 00:25:56,440 --> 00:25:59,480 Speaker 1: to help you to get a degree, but specifically what 549 00:25:59,520 --> 00:26:02,879 Speaker 1: you are borrowing for and the interest rate attached to 550 00:26:03,160 --> 00:26:05,439 Speaker 1: that loan are going to be crucial factors when you're 551 00:26:05,480 --> 00:26:09,080 Speaker 1: trying to decide whether that debt product is bad, whether 552 00:26:09,160 --> 00:26:12,840 Speaker 1: it's neutral, or whether it's you know, a potentially decent investment. 553 00:26:13,200 --> 00:26:16,840 Speaker 1: And a new report from Solo, it's like a community 554 00:26:16,920 --> 00:26:20,600 Speaker 1: finance platform, first name Han, but they highlighted some of 555 00:26:20,600 --> 00:26:24,000 Speaker 1: the worst places to borrow and they're highlighting the negative 556 00:26:24,000 --> 00:26:26,360 Speaker 1: impact of short term loans that come with incredibly high 557 00:26:26,400 --> 00:26:30,440 Speaker 1: fees with high interest rates, subprime credit cards, payday loans, 558 00:26:30,640 --> 00:26:34,359 Speaker 1: and earned wage access that's like the different platforms and 559 00:26:34,400 --> 00:26:36,959 Speaker 1: apps that allow you to get paid early. They were 560 00:26:36,960 --> 00:26:39,400 Speaker 1: some of the worst culprits out there, and we totally 561 00:26:39,440 --> 00:26:42,280 Speaker 1: one hundred percent agree those are crappy products that should 562 00:26:42,280 --> 00:26:44,240 Speaker 1: be avoided at all costs. Man. 563 00:26:44,359 --> 00:26:47,280 Speaker 2: We've talked smack about every single one of those at 564 00:26:47,280 --> 00:26:50,400 Speaker 2: some point, we hade them in the past, and yeah, 565 00:26:50,440 --> 00:26:52,840 Speaker 2: I think that earned wage access one matter, is particularly 566 00:26:52,920 --> 00:26:56,040 Speaker 2: nefarious because it looks so benevolent and those apps are 567 00:26:56,080 --> 00:26:59,040 Speaker 2: so good at marketing, they're so slick and then made 568 00:26:59,040 --> 00:26:59,879 Speaker 2: people think, oh, it. 569 00:27:00,359 --> 00:27:01,280 Speaker 1: Looks like it's free. 570 00:27:01,600 --> 00:27:04,000 Speaker 2: All I gotta do is is leave them a little 571 00:27:04,000 --> 00:27:07,159 Speaker 2: tip for the app creators. And when you factor in 572 00:27:07,720 --> 00:27:10,320 Speaker 2: how bad, how rotten that tip is from an interest 573 00:27:10,359 --> 00:27:14,720 Speaker 2: rate standpoint, it's awful and it's obliterating a reasonable chunk 574 00:27:14,720 --> 00:27:18,000 Speaker 2: of your pay that you shouldn't be forking over to somebody. 575 00:27:18,600 --> 00:27:21,280 Speaker 2: There's no you don't want to access your paycheck early 576 00:27:21,320 --> 00:27:22,440 Speaker 2: because it's going to cost you too much. 577 00:27:22,560 --> 00:27:25,639 Speaker 1: It feels like a two point like a wolf payday 578 00:27:25,680 --> 00:27:27,800 Speaker 1: loan two point zero and cheap loathing. 579 00:27:28,000 --> 00:27:30,000 Speaker 2: Essentially, it's just a modern slicker version of it that 580 00:27:30,400 --> 00:27:33,159 Speaker 2: looks less nefarious, but underneath the surface is rotten to 581 00:27:33,240 --> 00:27:36,040 Speaker 2: the core. They also mentioned in that report peer to 582 00:27:36,080 --> 00:27:38,720 Speaker 2: peer lending and by Now Pay Later as some of 583 00:27:38,720 --> 00:27:41,440 Speaker 2: the places people turn when they're in a financial pinch, right, 584 00:27:41,760 --> 00:27:44,560 Speaker 2: and those forms of debt can charge you sky high 585 00:27:44,600 --> 00:27:47,119 Speaker 2: interest if you don't make your payments on time. So 586 00:27:47,400 --> 00:27:49,760 Speaker 2: for by Now Pay Later, for instance, right, you might 587 00:27:49,880 --> 00:27:52,719 Speaker 2: find that the interest in fees are equivalent to a 588 00:27:52,880 --> 00:27:57,080 Speaker 2: forty five percent combined rate according to SOLO. If you're 589 00:27:57,080 --> 00:28:00,399 Speaker 2: not making your payments on time. So the macroeconomical is 590 00:28:00,440 --> 00:28:03,639 Speaker 2: that borrowing costs are up on every debt vehicle these days, right, 591 00:28:03,680 --> 00:28:07,280 Speaker 2: making every single form of debt more precarious, and the 592 00:28:07,280 --> 00:28:10,200 Speaker 2: worst kinds of debt have become even even worse right 593 00:28:10,240 --> 00:28:12,679 Speaker 2: over the past couple of years. A whole lot of 594 00:28:12,680 --> 00:28:15,080 Speaker 2: Americans are attracted to these forms of debt because they 595 00:28:15,119 --> 00:28:17,879 Speaker 2: have no savings to pay for an emergency man. I 596 00:28:17,880 --> 00:28:20,920 Speaker 2: think that's that's why people fall for these traps. They 597 00:28:20,920 --> 00:28:23,600 Speaker 2: feel like they have no other recourse. That's why we 598 00:28:23,640 --> 00:28:26,680 Speaker 2: talk about the emergency fund twenty four hundred and sixty 599 00:28:26,720 --> 00:28:29,320 Speaker 2: seven dollars, the bare minimum. Oh, you got to hit 600 00:28:29,400 --> 00:28:34,359 Speaker 2: that amounts. That's crucial to help you avoid needing to 601 00:28:34,440 --> 00:28:37,119 Speaker 2: turn to one of these really crummy debt vehicles that 602 00:28:37,240 --> 00:28:40,120 Speaker 2: could essentially bend you over a barrel for months or 603 00:28:40,240 --> 00:28:41,000 Speaker 2: years to come. 604 00:28:41,200 --> 00:28:44,040 Speaker 1: Yeah, okay, so you know I love numbers, Joel. I 605 00:28:44,080 --> 00:28:46,480 Speaker 1: love counching the numbers. And we've been saying the two 606 00:28:46,720 --> 00:28:49,400 Speaker 1: four hundred and sixty seven dollars amount for a while. 607 00:28:49,440 --> 00:28:51,800 Speaker 1: Are you obtaining it for inflation? We have to agree 608 00:28:51,800 --> 00:28:53,840 Speaker 1: on this together. But doing a drum roll and a 609 00:28:53,840 --> 00:28:56,520 Speaker 1: big reveal. I just let me just talk to the numbers, 610 00:28:56,520 --> 00:28:58,719 Speaker 1: because the number numbers are fun. Raise your hand if 611 00:28:58,760 --> 00:29:02,440 Speaker 1: you love math. Everybody numbers like Shakira's hips don't lie. 612 00:29:03,120 --> 00:29:06,400 Speaker 1: So that Rep. Shakira, right, I don't know, I think so, 613 00:29:07,080 --> 00:29:10,880 Speaker 1: But that was based on research based back in twenty nineteen. Okay, 614 00:29:10,960 --> 00:29:14,240 Speaker 1: twenty nineteen is when we identified, oh, we need to 615 00:29:14,280 --> 00:29:17,200 Speaker 1: start recommending to everyone to have four hundred and sixty 616 00:29:17,200 --> 00:29:20,520 Speaker 1: seven dollars set aside. Guess what the the total inflation has, 617 00:29:20,920 --> 00:29:23,760 Speaker 1: what it's been since twenty nineteen. It's a total of 618 00:29:24,120 --> 00:29:27,520 Speaker 1: and he guesses, uh, I'm gonna go thirty two percent. Well, 619 00:29:28,120 --> 00:29:30,520 Speaker 1: not quite that that high twenty three point four to 620 00:29:30,600 --> 00:29:34,360 Speaker 1: five cent. So if you were to adjust two four 621 00:29:34,440 --> 00:29:36,600 Speaker 1: hundred and sixty seven dollars, if you were to update 622 00:29:36,640 --> 00:29:40,040 Speaker 1: that to take into account inflation since twenty nineteen, that 623 00:29:40,080 --> 00:29:45,080 Speaker 1: means today the new money gear number one initial emergency 624 00:29:45,080 --> 00:29:48,360 Speaker 1: fund should be three thousand and forty five dollars. Okay, 625 00:29:48,520 --> 00:29:50,920 Speaker 1: three thousand forty five. What do you think? Does that 626 00:29:50,920 --> 00:29:53,160 Speaker 1: have a good ring to it? It's is it as 627 00:29:53,160 --> 00:29:54,840 Speaker 1: good as two thousand and four and sixty seven? 628 00:29:54,880 --> 00:29:56,240 Speaker 2: It doesn't roll off the tongue as much, but we 629 00:29:56,320 --> 00:29:59,160 Speaker 2: want to be accurate. Thirty forty five Yeah, okay, that 630 00:29:59,160 --> 00:30:01,240 Speaker 2: sounds better. Yeah that okay, all right, so maybe we 631 00:30:01,280 --> 00:30:04,040 Speaker 2: will update the site and start recommending for folks it's 632 00:30:04,080 --> 00:30:07,320 Speaker 2: thirty forty five that because that's a significantly larger amount 633 00:30:07,360 --> 00:30:10,040 Speaker 2: of money than I mean, this is solid more than 634 00:30:10,040 --> 00:30:10,800 Speaker 2: five hundred bucks. 635 00:30:10,800 --> 00:30:14,160 Speaker 1: So just something to keep in mind. Okay, we mentioned 636 00:30:14,280 --> 00:30:18,320 Speaker 1: doge last week and the implications of DOGE on the 637 00:30:18,360 --> 00:30:22,760 Speaker 1: federal workforce. President Trump he has floated the idea of 638 00:30:22,800 --> 00:30:26,840 Speaker 1: sending a portion of the savings that Doge claws back 639 00:30:27,200 --> 00:30:31,000 Speaker 1: to Americans in the form of a direct payment. And 640 00:30:31,120 --> 00:30:34,120 Speaker 1: if you've read any articles on this, if you've seen 641 00:30:34,160 --> 00:30:36,280 Speaker 1: this talked about, you've seen like a five thousand dollars 642 00:30:36,320 --> 00:30:38,720 Speaker 1: number pretty early on. That kind of reminds me of 643 00:30:38,800 --> 00:30:41,560 Speaker 1: the early days of the stimu dollars. You know. Yeah, 644 00:30:41,680 --> 00:30:43,840 Speaker 1: eyes get bigger, mouth starts watering a little bit. You 645 00:30:43,840 --> 00:30:46,680 Speaker 1: start thinking you're gonna see a direct deposit in your account. 646 00:30:46,720 --> 00:30:48,520 Speaker 2: Wait a second, how much am I getting? And you 647 00:30:48,880 --> 00:30:50,840 Speaker 2: kind of start pre spending it before it even drops. 648 00:30:50,920 --> 00:30:53,760 Speaker 1: Unfortunately, because the precedent has been set. But the way 649 00:30:53,800 --> 00:30:56,200 Speaker 1: it works is some of the savings from DOGE would 650 00:30:56,200 --> 00:30:58,840 Speaker 1: help to pay down the federal debt, while twenty percent 651 00:30:59,080 --> 00:31:03,160 Speaker 1: could evidently flow to individuals. Sounds nice, but we don't 652 00:31:03,200 --> 00:31:05,800 Speaker 1: want folks to hold their breath. I think we are 653 00:31:05,880 --> 00:31:08,960 Speaker 1: unlikely to get a check for five thousand dollars in 654 00:31:09,000 --> 00:31:11,600 Speaker 1: the mailbox anytime soon. Oh yeah, I can't imagine what 655 00:31:11,600 --> 00:31:14,360 Speaker 1: that would do to inflation. And it just does not 656 00:31:14,400 --> 00:31:16,240 Speaker 1: seem very likely personally, right. 657 00:31:16,440 --> 00:31:18,320 Speaker 2: No, it's it's one of those things where people are 658 00:31:18,320 --> 00:31:20,200 Speaker 2: gonna see headlines, they're gonna be like, cool, where's my 659 00:31:20,280 --> 00:31:23,600 Speaker 2: DOGE dividend, where's the check? When's it coming? And it's not. 660 00:31:24,080 --> 00:31:26,560 Speaker 2: It's not coming. Like, it's highly unlikely. 661 00:31:26,640 --> 00:31:29,000 Speaker 1: I just don't see to be the bearer of bad news, right, Okay, Well, 662 00:31:29,040 --> 00:31:31,520 Speaker 1: I just can't believe that they floated this idea, that 663 00:31:31,560 --> 00:31:34,719 Speaker 1: they stuck it out there without I mean, it's just 664 00:31:34,920 --> 00:31:37,800 Speaker 1: how the current administration works. They're just constantly throwing ideas 665 00:31:37,840 --> 00:31:39,800 Speaker 1: out there. But when you know substance to back it up, 666 00:31:39,840 --> 00:31:41,479 Speaker 1: when you put something out there like this that folks 667 00:31:41,520 --> 00:31:44,160 Speaker 1: are like, that's something that they can wrap their heads around, 668 00:31:44,160 --> 00:31:47,120 Speaker 1: that's incredibly tangible. They've seen what that felt like in 669 00:31:47,160 --> 00:31:49,560 Speaker 1: the past, and if you don't deliver on that, folks 670 00:31:49,600 --> 00:31:50,400 Speaker 1: are going to be pissed. 671 00:31:50,440 --> 00:31:52,520 Speaker 2: Honestly, it's kind of like the student loan forgiveness thing, 672 00:31:52,600 --> 00:31:54,200 Speaker 2: but I think this of this is actually being a 673 00:31:54,240 --> 00:31:56,440 Speaker 2: little bit worse because the student loan forgiveness thing was 674 00:31:56,840 --> 00:31:59,040 Speaker 2: they were attempting to do this and there might be 675 00:31:59,080 --> 00:32:02,320 Speaker 2: a legal way to pull this off, but ultimately there 676 00:32:02,320 --> 00:32:04,200 Speaker 2: were a lot of disappointed student loan borrowers at the 677 00:32:04,280 --> 00:32:07,320 Speaker 2: end of the day because that promise didn't come to fulfillment. 678 00:32:07,560 --> 00:32:09,160 Speaker 2: This is another one of those things where it's a 679 00:32:09,200 --> 00:32:12,560 Speaker 2: promise that's not going to happen, and that's because five 680 00:32:12,600 --> 00:32:15,360 Speaker 2: thousand dollars per household. Well that's the estimate based on 681 00:32:15,440 --> 00:32:19,280 Speaker 2: DOGE cutting two trillion dollars in federal spending. There's zero 682 00:32:19,400 --> 00:32:22,040 Speaker 2: sign that DOGE is going to find a way to 683 00:32:22,080 --> 00:32:25,200 Speaker 2: slash government spending anywhere near that level. Not that there 684 00:32:25,200 --> 00:32:27,800 Speaker 2: won't be some spending cuts around the margins that could 685 00:32:27,800 --> 00:32:30,120 Speaker 2: shrink the size of government a bit, but as we 686 00:32:30,160 --> 00:32:33,440 Speaker 2: said last week, entitlement programs would have to be significantly 687 00:32:33,440 --> 00:32:37,480 Speaker 2: altered in order to realize savings of that magnitude. Those 688 00:32:37,920 --> 00:32:41,200 Speaker 2: make up two thirds of the roughly seven trillion dollar budget, 689 00:32:41,640 --> 00:32:44,080 Speaker 2: and there's just no political will to touch those programs 690 00:32:44,120 --> 00:32:46,600 Speaker 2: in the slightest Like the President has basically said we 691 00:32:46,640 --> 00:32:48,760 Speaker 2: aren't going to cut back in any way, form or 692 00:32:48,800 --> 00:32:50,440 Speaker 2: fashion on those entitlement. 693 00:32:50,000 --> 00:32:51,240 Speaker 1: Programs the campaign on that. 694 00:32:51,320 --> 00:32:53,720 Speaker 2: So I think a five hundred dollars check, much less 695 00:32:53,720 --> 00:32:56,840 Speaker 2: a five thousand dollars check, is a pipe dream. Just 696 00:32:56,880 --> 00:32:59,480 Speaker 2: don't read that headline and assume that government money is 697 00:32:59,480 --> 00:33:00,200 Speaker 2: heading your way soon. 698 00:33:00,240 --> 00:33:02,239 Speaker 1: Yeah, totally agree. Kind of it reminds me of like 699 00:33:02,320 --> 00:33:05,600 Speaker 1: so they also mentioned possibly floating the idea of a 700 00:33:05,600 --> 00:33:09,440 Speaker 1: gold card for folks who want to rich people from 701 00:33:09,440 --> 00:33:12,360 Speaker 1: over the US citizens, which sounds ridiculous, Like that's how 702 00:33:12,400 --> 00:33:16,120 Speaker 1: this the Doge dividends sound. It just kind of sounds ridiculous. 703 00:33:16,360 --> 00:33:18,600 Speaker 1: Catches all the headlines the gold cards. It sounds like 704 00:33:18,640 --> 00:33:21,280 Speaker 1: it's totally something Trump would do because it's gold, you know. 705 00:33:22,800 --> 00:33:25,320 Speaker 1: But I will say, once you start realizing that other 706 00:33:25,400 --> 00:33:28,400 Speaker 1: countries have incentives like this, it seems less ridiculous, Like 707 00:33:28,440 --> 00:33:30,760 Speaker 1: it just seems like some sort of pipe dream, like, Oh, 708 00:33:30,840 --> 00:33:32,360 Speaker 1: let's throw this up the wall and see what sticks. 709 00:33:32,640 --> 00:33:35,080 Speaker 1: You just assume that everything that the current administration is 710 00:33:35,080 --> 00:33:37,959 Speaker 1: doing is like completely ridiculous until you start seeing that, Oh, 711 00:33:38,080 --> 00:33:43,200 Speaker 1: other countries also incentivize investment and high net worth individuals 712 00:33:43,200 --> 00:33:44,680 Speaker 1: to move to their country for the good of the 713 00:33:44,720 --> 00:33:45,320 Speaker 1: overall country. 714 00:33:45,360 --> 00:33:48,840 Speaker 2: Gold card thing seems less ridiculous, less ridiculous, Yeah, totally, 715 00:33:49,000 --> 00:33:52,200 Speaker 2: And it's you're incentivizing people to come to your country 716 00:33:52,200 --> 00:33:55,360 Speaker 2: who are hopefully going to be productive citizens. Yeah, invest 717 00:33:55,400 --> 00:33:58,000 Speaker 2: in the economy. But we'll see if it pants, will 718 00:33:58,000 --> 00:34:00,000 Speaker 2: see if that pants out here. All right, that's gonna 719 00:34:00,080 --> 00:34:02,280 Speaker 2: do it for this episode. We will post links to 720 00:34:02,440 --> 00:34:05,840 Speaker 2: some of the stories that we mentioned in today's Friday 721 00:34:05,840 --> 00:34:08,239 Speaker 2: Flight up on our website at Howtomoney dot com. Matt, 722 00:34:08,280 --> 00:34:10,480 Speaker 2: it's gonna do it for this one. Until next time. 723 00:34:10,880 --> 00:34:12,799 Speaker 1: Best Friends Out, Best Friends Out,