1 00:00:00,200 --> 00:00:03,240 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt. 2 00:00:03,480 --> 00:00:07,760 Speaker 1: Today we're discussing why dollar store snink inflation fears plus 3 00:00:07,800 --> 00:00:30,120 Speaker 1: no guess for you, No guests for you. And if 4 00:00:30,160 --> 00:00:33,199 Speaker 1: anyone is thinking that Joel just has four grammar, if 5 00:00:33,240 --> 00:00:35,280 Speaker 1: they don't know the reference, you need to go back 6 00:00:35,520 --> 00:00:38,959 Speaker 1: and watch the sup Nazi episode of Seinfeld. We'll link 7 00:00:39,000 --> 00:00:40,839 Speaker 1: to in the show US. Yeah, we, we totally need to. 8 00:00:40,920 --> 00:00:43,080 Speaker 1: It's a it's a classic, dude, it's a television classic. 9 00:00:43,800 --> 00:00:46,440 Speaker 1: It's so good. But this is our Friday Flight episode 10 00:00:46,479 --> 00:00:48,720 Speaker 1: where we are going to go over the different headlines 11 00:00:48,720 --> 00:00:51,120 Speaker 1: that we came across this week, h and how it 12 00:00:51,240 --> 00:00:54,120 Speaker 1: is that we feel that they pertain to our finances. Joel, 13 00:00:54,120 --> 00:00:56,440 Speaker 1: We're going to mention the stories that you have already mentioned, 14 00:00:56,440 --> 00:01:00,360 Speaker 1: plus many others. But dude, we wanted to mention Shaquille Lenil. 15 00:01:00,720 --> 00:01:03,320 Speaker 1: He's a resident here, not at How the Money. He 16 00:01:03,360 --> 00:01:06,000 Speaker 1: doesn't work for us, but here in Atlanta, and we 17 00:01:06,040 --> 00:01:08,560 Speaker 1: talked about him a few months ago when his his 18 00:01:08,600 --> 00:01:12,640 Speaker 1: Crispy Cream store sadly burned out, Yeah, burned down. But 19 00:01:12,760 --> 00:01:14,920 Speaker 1: he's quickly becoming like one of our favorite people on 20 00:01:14,920 --> 00:01:16,400 Speaker 1: the show. Like we're just talking about him more. He's 21 00:01:16,440 --> 00:01:19,039 Speaker 1: just you know, everything he does I love and like 22 00:01:19,400 --> 00:01:21,280 Speaker 1: I almost love him as much today as I did 23 00:01:21,319 --> 00:01:23,640 Speaker 1: when I was in middle school. Oh yeah, I would do. 24 00:01:23,800 --> 00:01:25,800 Speaker 1: I was the biggest fan ever in middle school. Well, 25 00:01:25,800 --> 00:01:27,399 Speaker 1: the reason we wanted to talk about him now is 26 00:01:27,600 --> 00:01:29,600 Speaker 1: because this is kind of an older story. But he 27 00:01:29,640 --> 00:01:32,360 Speaker 1: paid for uh an engagement ring. So he was in 28 00:01:32,480 --> 00:01:35,000 Speaker 1: a jewelry store picking up some jewelry for himself or 29 00:01:35,040 --> 00:01:37,039 Speaker 1: maybe a lady friend. I don't know. Apparently he was 30 00:01:37,080 --> 00:01:39,520 Speaker 1: at Zails. He has a line of jewelry at Zails, 31 00:01:39,560 --> 00:01:42,440 Speaker 1: which is yeah, oh no way. So he's like picking 32 00:01:42,520 --> 00:01:44,119 Speaker 1: up some jewelry, but he also has a line there, 33 00:01:44,160 --> 00:01:46,520 Speaker 1: so okay. Well, so while he was there, he saw 34 00:01:46,520 --> 00:01:48,520 Speaker 1: like a gentleman, he was doing some of his own shopping. 35 00:01:48,520 --> 00:01:51,240 Speaker 1: He was getting ready to purchase an engagement ring in shack. 36 00:01:51,560 --> 00:01:53,840 Speaker 1: Decided that hey, this one's on me. He purchased the 37 00:01:53,880 --> 00:01:55,960 Speaker 1: engagement ring for the dude. He didn't know the dude. 38 00:01:56,000 --> 00:01:58,480 Speaker 1: It was a totally random stranger. But yeah, it's something 39 00:01:58,520 --> 00:02:00,520 Speaker 1: that made the headlines because who does want to hear 40 00:02:00,520 --> 00:02:04,800 Speaker 1: about something else great that Shaquille O'Neill has done for Yeah, 41 00:02:04,800 --> 00:02:06,720 Speaker 1: I feel like there should be like a website dedicated 42 00:02:06,720 --> 00:02:08,680 Speaker 1: to it, right, kind of like the random sightings of 43 00:02:08,720 --> 00:02:10,440 Speaker 1: Bill Murray has kind of taken on a life of 44 00:02:10,480 --> 00:02:12,840 Speaker 1: its own, the random good deeds of Shack maybe, uh 45 00:02:13,040 --> 00:02:14,600 Speaker 1: and Yeah. One of the things he said Matt when 46 00:02:14,600 --> 00:02:16,359 Speaker 1: he was asked about it, he said, whenever I leave 47 00:02:16,400 --> 00:02:18,320 Speaker 1: the house, I try to do a good deed for 48 00:02:18,360 --> 00:02:20,600 Speaker 1: somebody else. And I was just like, man, what if 49 00:02:20,600 --> 00:02:23,440 Speaker 1: more of us try to adopt that mentality? And um, 50 00:02:23,480 --> 00:02:24,880 Speaker 1: and you know that that is I think one of 51 00:02:24,880 --> 00:02:28,079 Speaker 1: the coolest things about you know, being good with your 52 00:02:28,080 --> 00:02:31,000 Speaker 1: money is that you can actually then afford if if 53 00:02:31,040 --> 00:02:33,160 Speaker 1: all your money is not going out every single month 54 00:02:33,240 --> 00:02:35,440 Speaker 1: and you're you're able to save more and more, you're 55 00:02:35,480 --> 00:02:37,080 Speaker 1: able to give more and more, and you're able to 56 00:02:37,120 --> 00:02:40,000 Speaker 1: do random acts of kindness like this without even giving 57 00:02:40,000 --> 00:02:41,440 Speaker 1: it a second thought. Like I'm not going to personally 58 00:02:41,480 --> 00:02:43,480 Speaker 1: be able to buy somebody's engagement ring. Probably I don't 59 00:02:43,480 --> 00:02:46,160 Speaker 1: have like Shaquilla need level money, but like, you know, 60 00:02:46,240 --> 00:02:47,840 Speaker 1: I like I think you and I were talking about 61 00:02:47,880 --> 00:02:50,320 Speaker 1: how well, how can we implement this into our lives 62 00:02:50,440 --> 00:02:53,280 Speaker 1: in like a smaller way, like buying a random person's 63 00:02:53,320 --> 00:02:56,040 Speaker 1: beer or whatever, buying buying lunch for someone we don't 64 00:02:56,040 --> 00:02:58,280 Speaker 1: even know, or just helping somebody out on the fly. 65 00:02:58,480 --> 00:03:00,720 Speaker 1: And I think, yeah, Shaquille and one of those guys 66 00:03:00,760 --> 00:03:03,120 Speaker 1: who's like setting a really really good example for all 67 00:03:03,120 --> 00:03:05,840 Speaker 1: of us in that, So kudos to him, right, dude. 68 00:03:05,960 --> 00:03:08,440 Speaker 1: I think the temptation can be that when we have, 69 00:03:08,560 --> 00:03:10,520 Speaker 1: once we do have that you know, shock level money, 70 00:03:10,520 --> 00:03:13,280 Speaker 1: then we can start doing things like that. Um, you know, 71 00:03:13,440 --> 00:03:15,160 Speaker 1: folks might be thinking, oh, like that really must be 72 00:03:15,280 --> 00:03:16,920 Speaker 1: nice to be able to have that much wealth that 73 00:03:16,960 --> 00:03:19,320 Speaker 1: you can do things like that. But here's the thing, 74 00:03:19,800 --> 00:03:22,480 Speaker 1: you know, if we don't start implementing those practices of 75 00:03:22,480 --> 00:03:25,560 Speaker 1: generosity or in this case, like spontaneous generosity, right, Like 76 00:03:25,600 --> 00:03:28,200 Speaker 1: I'm generous with my money, but I am not spontaneously 77 00:03:28,360 --> 00:03:30,720 Speaker 1: generous with my money. But when I read that story, 78 00:03:30,760 --> 00:03:33,000 Speaker 1: I remember thinking, you know, a few weeks ago that like, oh, 79 00:03:33,280 --> 00:03:34,840 Speaker 1: like I wish that was something I could do. But 80 00:03:34,880 --> 00:03:37,440 Speaker 1: here's the thing, like you said, that is something that 81 00:03:37,480 --> 00:03:39,640 Speaker 1: I can do. And I was curious and so actually 82 00:03:39,680 --> 00:03:42,880 Speaker 1: crunch the numbers, dude. So Shack's net worth is estimated 83 00:03:42,880 --> 00:03:45,840 Speaker 1: to be around four hundred million dollars. The average engagement 84 00:03:45,880 --> 00:03:48,080 Speaker 1: ring cost uh here in the US is about five 85 00:03:48,120 --> 00:03:51,120 Speaker 1: thousand dollars. So you do the math there, and the 86 00:03:51,160 --> 00:03:54,480 Speaker 1: engagement ring was just one one thousand of a percent 87 00:03:55,000 --> 00:03:57,040 Speaker 1: of his overall net worth? And so what do is 88 00:03:57,080 --> 00:03:58,680 Speaker 1: that like equivalent to like twenty bucks for you and 89 00:03:58,760 --> 00:04:01,040 Speaker 1: me something like that, something like that. Yeah, so even 90 00:04:01,080 --> 00:04:03,640 Speaker 1: if you accrunch the numbers, if someone has two and 91 00:04:03,640 --> 00:04:08,080 Speaker 1: fifty thousand dollars saying net worth, that equates to three dollars. 92 00:04:08,560 --> 00:04:10,839 Speaker 1: And that doesn't sound like much money at all, dude, 93 00:04:10,880 --> 00:04:13,720 Speaker 1: Like that's literally just buying somebody's coffee for them. Like 94 00:04:13,760 --> 00:04:15,200 Speaker 1: if you're in the line, that's just paying for the 95 00:04:15,320 --> 00:04:17,560 Speaker 1: order of the person behind you, right, And so I 96 00:04:17,560 --> 00:04:20,320 Speaker 1: guess I wanted to mention that because and this isn't 97 00:04:20,320 --> 00:04:22,200 Speaker 1: to say that Shack should be giving more money. It's 98 00:04:22,240 --> 00:04:24,360 Speaker 1: just to point out that we can take small steps 99 00:04:24,400 --> 00:04:27,640 Speaker 1: towards that kind of behavior before we have massive sums 100 00:04:27,640 --> 00:04:29,599 Speaker 1: of money. This is also the kind of thing that 101 00:04:29,640 --> 00:04:33,560 Speaker 1: he's doing consistently, right, and he's admitted to that. He's like, 102 00:04:33,680 --> 00:04:37,039 Speaker 1: I try to do this every day, like to take 103 00:04:37,080 --> 00:04:39,400 Speaker 1: care of somebody in some way that I don't know um, 104 00:04:39,440 --> 00:04:41,479 Speaker 1: and so I think that's admirable and I feel like, yeah, 105 00:04:41,480 --> 00:04:43,040 Speaker 1: we can all learn something from that and try to 106 00:04:43,080 --> 00:04:45,599 Speaker 1: implement it into our lives if that's something we care about. 107 00:04:45,640 --> 00:04:47,960 Speaker 1: And I don't know, I think for me, I was inspired. Yeah, 108 00:04:48,000 --> 00:04:49,800 Speaker 1: I was inspired as well. I mean, again, we've talked 109 00:04:49,800 --> 00:04:52,279 Speaker 1: about intentionally giving our money, but for me, it's a 110 00:04:52,320 --> 00:04:55,880 Speaker 1: completely different thing. I've never spontaneously paid for something for 111 00:04:55,920 --> 00:04:58,440 Speaker 1: someone who I didn't know, um, but I think if 112 00:04:58,440 --> 00:05:00,160 Speaker 1: I did, that would make me feel really good. I 113 00:05:00,160 --> 00:05:01,680 Speaker 1: think they would remember it as well, even if it's 114 00:05:01,720 --> 00:05:04,080 Speaker 1: just coffee. Like, here's the thing. I've never had someone 115 00:05:04,120 --> 00:05:06,080 Speaker 1: pay for my coffee or pay for my beer just 116 00:05:06,200 --> 00:05:08,360 Speaker 1: randomly from a stranger, you know. But if someone did, 117 00:05:08,680 --> 00:05:10,520 Speaker 1: like granded, it's not gonna maybe change my life like 118 00:05:10,520 --> 00:05:12,320 Speaker 1: it changed that that dude's life who had his ring 119 00:05:12,360 --> 00:05:14,719 Speaker 1: paid for, but I would remember it like that would 120 00:05:14,760 --> 00:05:17,040 Speaker 1: completely stand out in my mind and it would seem 121 00:05:17,120 --> 00:05:19,200 Speaker 1: like this act of kindness that I would want to 122 00:05:19,240 --> 00:05:21,080 Speaker 1: pay forward. And so that's I guess that's what I'm 123 00:05:21,080 --> 00:05:22,800 Speaker 1: inspired to do as well as just to remember this 124 00:05:22,880 --> 00:05:25,280 Speaker 1: and to realize I can start taking these steps, I 125 00:05:25,320 --> 00:05:27,360 Speaker 1: can start paying it forward to others as well. Yeah, 126 00:05:27,400 --> 00:05:30,239 Speaker 1: I think something just that's small and act that small. 127 00:05:30,240 --> 00:05:32,840 Speaker 1: Buying somebody else's coffee, it makes their whole day, It 128 00:05:32,960 --> 00:05:36,160 Speaker 1: completely changes it would make my week or my month, 129 00:05:36,240 --> 00:05:38,080 Speaker 1: because I mean I would just kind of constantly think 130 00:05:38,080 --> 00:05:40,080 Speaker 1: back to whoever, who was that? Like why did they 131 00:05:40,080 --> 00:05:42,480 Speaker 1: do that for me? That's so kind? Yeah, yeah, it's 132 00:05:42,480 --> 00:05:44,919 Speaker 1: really neat. So props to Shack. You know what, Shack, 133 00:05:45,000 --> 00:05:46,520 Speaker 1: you have an open invitation to come on how the 134 00:05:46,560 --> 00:05:49,400 Speaker 1: Money anytime, anytime. But I Matt, let's get to our 135 00:05:49,440 --> 00:05:51,680 Speaker 1: our Friday flight, a sampling of stories we found interesting 136 00:05:51,720 --> 00:05:54,359 Speaker 1: this week and how they apply to people's personal finances. 137 00:05:54,400 --> 00:05:56,839 Speaker 1: We've got a lot to cover today, and let's talk 138 00:05:57,120 --> 00:06:01,960 Speaker 1: first quickly about housing. Well. Lumbers continue their ascent upwards, 139 00:06:02,400 --> 00:06:05,080 Speaker 1: making you and I wonder if we'd rather have piles 140 00:06:05,080 --> 00:06:06,880 Speaker 1: of bitcoin or a stash of two buy fowards in 141 00:06:06,880 --> 00:06:09,240 Speaker 1: the backyard, you know, a bunch of a bunch of 142 00:06:09,240 --> 00:06:11,680 Speaker 1: boards up under the bed, tucked under the mattress. And 143 00:06:11,720 --> 00:06:13,800 Speaker 1: with those recent Bitcoin losses, I'm saying, I don't know, 144 00:06:13,839 --> 00:06:15,520 Speaker 1: I'm betting on the wood. I'll take the wood. Yeah, 145 00:06:15,560 --> 00:06:18,040 Speaker 1: and so yeah, like pricey lumber is now adding nearly 146 00:06:18,400 --> 00:06:20,640 Speaker 1: thirty six thousand dollars to the price of building a 147 00:06:20,640 --> 00:06:22,960 Speaker 1: new home, and it makes it more difficult if you're 148 00:06:22,960 --> 00:06:25,240 Speaker 1: looking to build a new house. And we talked about 149 00:06:25,279 --> 00:06:28,240 Speaker 1: that in depth on this past Wednesday's episode, whether it's 150 00:06:28,240 --> 00:06:30,479 Speaker 1: a dumb idea to buy a home these days, So 151 00:06:30,600 --> 00:06:32,479 Speaker 1: definitely give that a listen if you or someone you 152 00:06:32,520 --> 00:06:35,560 Speaker 1: know is considering buying a home these days. It's a 153 00:06:35,600 --> 00:06:37,800 Speaker 1: tricky market to be buying in, and we tried to 154 00:06:37,880 --> 00:06:39,719 Speaker 1: kind of cover most of the important things that you 155 00:06:39,760 --> 00:06:41,600 Speaker 1: need to think about. Uh, if you if you are 156 00:06:41,640 --> 00:06:44,119 Speaker 1: looking to buy home, that's right, yeah, dude. And rising 157 00:06:44,120 --> 00:06:46,960 Speaker 1: prices across the board are starting to have folks on edge. 158 00:06:47,320 --> 00:06:50,880 Speaker 1: The Bureau of Labor Statistics released their Consumer Price Index 159 00:06:50,920 --> 00:06:54,240 Speaker 1: figures earlier this week. Uh, and prices rose point eight 160 00:06:54,279 --> 00:06:57,880 Speaker 1: percent last month, with an overall rise of four point 161 00:06:57,880 --> 00:07:00,480 Speaker 1: two percent over the past twelve months. UM. And so 162 00:07:00,600 --> 00:07:03,080 Speaker 1: the c p I, the Consumer Price Index, that's essentially 163 00:07:03,160 --> 00:07:06,279 Speaker 1: the inflation rate, uh dude, And this is a significant increase. 164 00:07:06,560 --> 00:07:09,200 Speaker 1: But you know, we're wondering should we be concerned? And 165 00:07:09,240 --> 00:07:11,800 Speaker 1: so that's that's actually tough to cover on a quick 166 00:07:11,800 --> 00:07:14,280 Speaker 1: Friday flight. Episode, and so we're actually going to tackle 167 00:07:14,320 --> 00:07:18,160 Speaker 1: inflation and rising prices in depth next week on Wednesday's episode, 168 00:07:18,160 --> 00:07:20,640 Speaker 1: And so that's one that you can start looking forward to. Now. Yeah, 169 00:07:20,680 --> 00:07:23,120 Speaker 1: with all the headlines serrounding inflation, we're like, we gotta 170 00:07:23,160 --> 00:07:24,640 Speaker 1: do a deep dive on it, you know, we gotta 171 00:07:24,640 --> 00:07:27,120 Speaker 1: gotta be able to cover that one for our listeners. 172 00:07:27,280 --> 00:07:28,960 Speaker 1: All right, let's move on to the next story. There's 173 00:07:28,960 --> 00:07:31,760 Speaker 1: a way for some people to get free internet. That's 174 00:07:31,800 --> 00:07:34,520 Speaker 1: because there's a new fifty dollar a month internet subsidy 175 00:07:34,560 --> 00:07:37,440 Speaker 1: that's available for folks with low incomes. It's called the 176 00:07:37,480 --> 00:07:41,720 Speaker 1: Emergency Broadband Benefit, and if you're on SNAP Benefits, Medicaid, 177 00:07:42,120 --> 00:07:44,640 Speaker 1: or if you're a recipient of a PELL grant, you 178 00:07:44,720 --> 00:07:47,400 Speaker 1: could potentially be eligible. And the students continue to do 179 00:07:47,480 --> 00:07:50,880 Speaker 1: virtual schooling from home, and other services like healthcare have 180 00:07:51,000 --> 00:07:53,440 Speaker 1: moved more online. This could be a big help for 181 00:07:53,520 --> 00:07:55,960 Speaker 1: a lot of folks out there. The program actually went 182 00:07:56,000 --> 00:07:58,200 Speaker 1: live on Wednesday, and so we'll link to the FCC 183 00:07:58,360 --> 00:08:01,120 Speaker 1: site where you can learn more and apply to the program. 184 00:08:01,160 --> 00:08:03,040 Speaker 1: We'll put that in our show notes. But it's nice 185 00:08:03,080 --> 00:08:04,600 Speaker 1: to know that you can get yeah, fifty bucks of 186 00:08:04,680 --> 00:08:08,200 Speaker 1: your internet bill covered, um if you if you're eligible, 187 00:08:08,440 --> 00:08:10,080 Speaker 1: and Matt, I don't know about you. My internet bill 188 00:08:10,160 --> 00:08:13,080 Speaker 1: is a flat thirty dollars a month, so yeah, mine 189 00:08:13,080 --> 00:08:15,720 Speaker 1: would be more than holdly covered. But I don't qualify. 190 00:08:15,880 --> 00:08:18,040 Speaker 1: Nice man, I've got a story here in regards to 191 00:08:18,080 --> 00:08:20,720 Speaker 1: the survey. This is a survey that credit cards dot 192 00:08:20,800 --> 00:08:25,560 Speaker 1: Com conducted and parents evidently are sacrificing their own financial 193 00:08:25,600 --> 00:08:27,880 Speaker 1: well being for their kids. And you know, I think 194 00:08:27,920 --> 00:08:31,280 Speaker 1: sometimes this can sound noble, but not really, not when 195 00:08:31,400 --> 00:08:34,200 Speaker 1: many of those folks couldn't really afford to give that 196 00:08:34,240 --> 00:08:36,400 Speaker 1: money away. Lots of those parents needed the money to 197 00:08:36,440 --> 00:08:38,480 Speaker 1: pay off their own credit card debt and to pay 198 00:08:38,520 --> 00:08:40,679 Speaker 1: for day to day expenses. I think when you love 199 00:08:40,720 --> 00:08:42,880 Speaker 1: your kid, it can be it's it's hard to see 200 00:08:42,920 --> 00:08:45,200 Speaker 1: them struggling and to not do something to help them out, right, 201 00:08:45,280 --> 00:08:47,760 Speaker 1: especially given this past year that we've had. But it's 202 00:08:47,800 --> 00:08:50,040 Speaker 1: also important to make sure that you're not giving your 203 00:08:50,080 --> 00:08:52,760 Speaker 1: money away that you absolutely need in order to pay 204 00:08:52,800 --> 00:08:55,000 Speaker 1: the bills or to get out from under a load 205 00:08:55,000 --> 00:08:57,480 Speaker 1: of debt. Plus, through the action of giving them that money, 206 00:08:57,520 --> 00:09:00,720 Speaker 1: you might be enabling them to continue to make poor 207 00:09:00,760 --> 00:09:03,160 Speaker 1: money decisions down the road. Yeah, I feel like this 208 00:09:03,200 --> 00:09:05,760 Speaker 1: study actually kind of coincided well with something else that 209 00:09:05,800 --> 00:09:07,640 Speaker 1: we just saw Matt with the fact that, you know, 210 00:09:07,679 --> 00:09:10,720 Speaker 1: retiring early, you know that that's what the fire people 211 00:09:10,720 --> 00:09:12,800 Speaker 1: are all about. That may be something that older Americans 212 00:09:12,840 --> 00:09:16,040 Speaker 1: are actually going to be forced into, um who otherwise 213 00:09:16,120 --> 00:09:19,720 Speaker 1: they'd like to keep working. The Employee Benefit Research Institute 214 00:09:19,720 --> 00:09:23,760 Speaker 1: recently found that workers consistently retire earlier than they predicted. 215 00:09:24,200 --> 00:09:27,160 Speaker 1: And it's not because they're so flush with cash that 216 00:09:27,160 --> 00:09:29,400 Speaker 1: they're that they're like, all right, I'm done with this job. 217 00:09:29,600 --> 00:09:32,560 Speaker 1: This isn't an optional thing. Actually, they're getting forced out. Yeah, 218 00:09:32,600 --> 00:09:35,120 Speaker 1: and so yeah, this study from eighteen found that over 219 00:09:35,240 --> 00:09:38,839 Speaker 1: half of folks over fifty age fifty were laid off 220 00:09:38,960 --> 00:09:41,000 Speaker 1: or pushed out of a job before they were planning 221 00:09:41,040 --> 00:09:44,800 Speaker 1: to leave, drastically affecting their work lives and their financial situation. 222 00:09:45,080 --> 00:09:47,480 Speaker 1: And this is just such an important reminder that investing 223 00:09:47,480 --> 00:09:50,280 Speaker 1: early and often is crucial. Even if you plan to 224 00:09:50,360 --> 00:09:53,359 Speaker 1: work until you're eighty years old, there's just no guarantee 225 00:09:53,360 --> 00:09:56,240 Speaker 1: that other circumstances won't impact these plans. And I think 226 00:09:56,280 --> 00:09:59,160 Speaker 1: it's just another thing that parents need to consider before 227 00:09:59,200 --> 00:10:01,760 Speaker 1: they start giving, you know, sums. Of money to their 228 00:10:01,840 --> 00:10:04,520 Speaker 1: children is like, well, I'm planning to work until I'm 229 00:10:04,559 --> 00:10:07,199 Speaker 1: sixty five or seventy, but are you actually going to 230 00:10:07,240 --> 00:10:09,240 Speaker 1: be able to work until you're sixty five or seventy. 231 00:10:09,240 --> 00:10:11,120 Speaker 1: You don't always get that choice, and so you need 232 00:10:11,160 --> 00:10:15,880 Speaker 1: to be prepared fully for your own retirement before you 233 00:10:15,920 --> 00:10:18,760 Speaker 1: actually start giving money I think away to your kids. 234 00:10:18,840 --> 00:10:21,560 Speaker 1: And again I totally understand, like you said, Matt, that 235 00:10:21,640 --> 00:10:23,960 Speaker 1: desire to help your kids out, but when it's at 236 00:10:24,000 --> 00:10:26,840 Speaker 1: your own expense, um, and it's going to make life 237 00:10:26,880 --> 00:10:29,720 Speaker 1: hard for you in those later years when you know 238 00:10:29,800 --> 00:10:32,360 Speaker 1: it's gonna be even harder to generate an income by working, 239 00:10:32,600 --> 00:10:35,359 Speaker 1: I think you put yourself in a really tough financial 240 00:10:35,440 --> 00:10:38,680 Speaker 1: and physical situation. Yeah, well physically as well. Like you said, 241 00:10:38,720 --> 00:10:40,840 Speaker 1: I mean, you may not be able to actually do 242 00:10:40,920 --> 00:10:43,199 Speaker 1: the work right. It's it's not necessarily just up to 243 00:10:43,240 --> 00:10:45,320 Speaker 1: the employer, like maybe they want to keep you on, 244 00:10:45,440 --> 00:10:47,439 Speaker 1: but if you're unable to physically do the labor, then 245 00:10:47,600 --> 00:10:49,920 Speaker 1: that would be another reason why you can't continue to work. 246 00:10:49,960 --> 00:10:51,800 Speaker 1: But you know, I think there might be some instances 247 00:10:51,800 --> 00:10:53,880 Speaker 1: where there might be this family expectation where you know, 248 00:10:53,880 --> 00:10:55,560 Speaker 1: the parents gonna take care of the kids with the 249 00:10:55,600 --> 00:10:57,679 Speaker 1: assumption that the kids are going to take care of 250 00:10:57,679 --> 00:11:00,360 Speaker 1: the parents, you know, as they get older. But I 251 00:11:00,360 --> 00:11:02,440 Speaker 1: would say that, like, if that's something that you think 252 00:11:02,520 --> 00:11:04,960 Speaker 1: might be the case in your family, just to make 253 00:11:05,000 --> 00:11:06,760 Speaker 1: sure that you're talking about it right. If there are 254 00:11:06,760 --> 00:11:10,480 Speaker 1: these unspoken expectations, I think that can be a recipe 255 00:11:10,520 --> 00:11:13,679 Speaker 1: for disaster when it comes to maybe nobody's saving enough money. 256 00:11:13,920 --> 00:11:15,440 Speaker 1: But I wanted to mention that because I think all 257 00:11:15,480 --> 00:11:18,199 Speaker 1: family cultures and dynamics are different, right, Like I think 258 00:11:18,200 --> 00:11:21,160 Speaker 1: in some families there is that expectation that maybe parents 259 00:11:21,200 --> 00:11:23,600 Speaker 1: will be financially taken care of in their later years 260 00:11:23,640 --> 00:11:25,560 Speaker 1: by their kids. Yeah, like the kids might say, we've 261 00:11:25,559 --> 00:11:28,440 Speaker 1: got room in our house or you know tiny, you know, 262 00:11:28,800 --> 00:11:31,120 Speaker 1: a du in the backyard, and that's where you are. Guy. 263 00:11:31,160 --> 00:11:32,800 Speaker 1: You guys are gonna stay mom and dad when when 264 00:11:32,800 --> 00:11:35,079 Speaker 1: you get to that age. But other families that might 265 00:11:35,080 --> 00:11:36,720 Speaker 1: not be the case. And so yeah, you definitely have 266 00:11:36,800 --> 00:11:39,880 Speaker 1: to have those lines of communication open, have the expectations 267 00:11:39,880 --> 00:11:42,200 Speaker 1: set um, and parents have to be careful before they 268 00:11:42,200 --> 00:11:43,920 Speaker 1: give away too much of their wealth to their kids. 269 00:11:44,360 --> 00:11:46,600 Speaker 1: That's right, dude. Yeah, let's now talk about how you 270 00:11:46,600 --> 00:11:49,760 Speaker 1: can eat your leftovers more easily with this new app. UH. 271 00:11:50,120 --> 00:11:52,680 Speaker 1: Since a huge amount of food gets wasted in the 272 00:11:52,760 --> 00:11:55,079 Speaker 1: US every year, any business that can find a way 273 00:11:55,120 --> 00:11:58,319 Speaker 1: to to make use out of that uneaten food UH 274 00:11:58,400 --> 00:12:00,120 Speaker 1: might be able to to turn a solid profit it. 275 00:12:00,360 --> 00:12:03,040 Speaker 1: And that's what this new app, too Good to Go 276 00:12:03,520 --> 00:12:06,640 Speaker 1: is hoping to achieve with food that many restaurants would 277 00:12:06,679 --> 00:12:09,360 Speaker 1: would normally just be tossing out. This app just won 278 00:12:09,480 --> 00:12:13,920 Speaker 1: the Fast Company's World Changing Ideas Award in the App category. 279 00:12:14,200 --> 00:12:16,080 Speaker 1: And the premise is that you can reserve a quote 280 00:12:16,120 --> 00:12:20,720 Speaker 1: unquote surprise bag from local bakeries and restaurants for food 281 00:12:21,160 --> 00:12:23,720 Speaker 1: that would have otherwise been thrown away, and you can 282 00:12:23,760 --> 00:12:26,839 Speaker 1: also get it at a pretty sweet discount by doing so. Yeah, 283 00:12:26,880 --> 00:12:29,480 Speaker 1: it's not it's literally not like they're you know, taking 284 00:12:29,480 --> 00:12:32,400 Speaker 1: a plate from a table and Joe had his Lazani 285 00:12:32,480 --> 00:12:34,719 Speaker 1: was only half eaten, and they like put it into 286 00:12:34,760 --> 00:12:36,520 Speaker 1: a go box and say, all right, you signed up 287 00:12:36,520 --> 00:12:39,240 Speaker 1: for the app, you get Joe's leftovers. In my earlier years, 288 00:12:39,240 --> 00:12:41,000 Speaker 1: I would have even simmed up for that. I'm sure 289 00:12:41,240 --> 00:12:43,679 Speaker 1: I'll take it. I'm not scared. Yeah, so this is 290 00:12:43,840 --> 00:12:46,439 Speaker 1: this isn't quite like that, but yeah, right, now um 291 00:12:46,480 --> 00:12:48,440 Speaker 1: and and Mann, I know how you know much into 292 00:12:48,520 --> 00:12:50,520 Speaker 1: leftovers you are, So I feel like this album is 293 00:12:50,600 --> 00:12:53,040 Speaker 1: right up your alley, but sadly not available in Atlanta yet. 294 00:12:53,040 --> 00:12:56,800 Speaker 1: It's only available in a few cities like Boston, New York, 295 00:12:56,920 --> 00:12:59,320 Speaker 1: d C. And Philly. And you can check out too 296 00:12:59,360 --> 00:13:01,440 Speaker 1: Good to oh dot org to find out more. It 297 00:13:01,440 --> 00:13:04,360 Speaker 1: looks like they're gonna be expanding to cities like Portland, Seattle, 298 00:13:04,360 --> 00:13:07,240 Speaker 1: and San Francisco at some point this summer. Um. So, yeah, 299 00:13:07,240 --> 00:13:09,040 Speaker 1: I know a lot of our listeners live in some 300 00:13:09,080 --> 00:13:11,080 Speaker 1: of those cities, So go check out that site, Go 301 00:13:11,160 --> 00:13:13,920 Speaker 1: check out the app. Apparently the app has already saved 302 00:13:14,120 --> 00:13:17,560 Speaker 1: two hundred thousand meals from landfills this year. Yeah, and 303 00:13:17,559 --> 00:13:19,720 Speaker 1: it might save you money on some tasty local food 304 00:13:19,920 --> 00:13:22,240 Speaker 1: that otherwise we'll just get thrown away. I love the 305 00:13:22,280 --> 00:13:25,200 Speaker 1: idea of preventing food waste and maybe getting a deal 306 00:13:25,320 --> 00:13:28,200 Speaker 1: on some food at the same time. That's right, man, Alright, 307 00:13:28,200 --> 00:13:30,320 Speaker 1: we're gonna take a quick break, and after the break, though, 308 00:13:30,400 --> 00:13:32,520 Speaker 1: we have several other stories that we're gonna get to, 309 00:13:32,600 --> 00:13:36,679 Speaker 1: including we're gonna talk about the gasoline shortage crisis, call 310 00:13:36,720 --> 00:13:38,240 Speaker 1: it whatever you wanna call it. I call it no 311 00:13:38,320 --> 00:13:41,120 Speaker 1: guest for you, Yes, you do. And we're gonna we're 312 00:13:41,120 --> 00:13:44,160 Speaker 1: gonna talk about cars as well as our thoughts on 313 00:13:44,480 --> 00:13:46,719 Speaker 1: dollar stores. We'll get to all of that right after this. 314 00:13:56,040 --> 00:13:58,920 Speaker 1: All right, Matt, we're back. Let's get to that ludicrous 315 00:13:58,920 --> 00:14:02,000 Speaker 1: headline of the week. Alright, Joel, Well, this week's ludicrous 316 00:14:02,000 --> 00:14:04,439 Speaker 1: headline comes from market Watch and it goes something like 317 00:14:04,480 --> 00:14:08,120 Speaker 1: this government reminds anxious gas customers do not fill plastic 318 00:14:08,160 --> 00:14:12,400 Speaker 1: bags with gasoline. Dude, Yeah, please do not do that. 319 00:14:12,440 --> 00:14:15,120 Speaker 1: It's it's dangerous. Of course, there were rumors of this 320 00:14:15,200 --> 00:14:19,400 Speaker 1: happening because demand for gasoline shot up on Monday across 321 00:14:19,440 --> 00:14:22,680 Speaker 1: states in the southeast. According to gas Buddy, Uh, this 322 00:14:22,720 --> 00:14:25,200 Speaker 1: is Joel, probably making you maybe miss year old electric 323 00:14:25,200 --> 00:14:27,920 Speaker 1: car in a big way. Uh. And it only got 324 00:14:27,960 --> 00:14:30,800 Speaker 1: worse from their dude. Many gas stations were completely out 325 00:14:30,800 --> 00:14:34,400 Speaker 1: of gas this week, leading to enormously long lines to 326 00:14:34,520 --> 00:14:36,840 Speaker 1: fill up in states like here in Georgia, but also 327 00:14:36,920 --> 00:14:40,440 Speaker 1: South Carolina, North Carolina, Florida, and Virginia as well. And 328 00:14:40,480 --> 00:14:43,760 Speaker 1: that's because a major pipeline that sends gas to stations 329 00:14:43,760 --> 00:14:46,800 Speaker 1: across those states was shut down by hackers ransomware dude, 330 00:14:46,800 --> 00:14:50,160 Speaker 1: it's becoming a bigger issue these days. And the cyber 331 00:14:50,200 --> 00:14:54,640 Speaker 1: attack forced Colonial Pipeline to shut down important operations while 332 00:14:54,640 --> 00:14:58,000 Speaker 1: trying to figure out how to Respondent of the gas 333 00:14:58,040 --> 00:15:01,840 Speaker 1: supply on the East Coast was basically shut down overnight. Uh. 334 00:15:01,960 --> 00:15:04,240 Speaker 1: The the group that took responsibility for this hack is 335 00:15:04,280 --> 00:15:07,480 Speaker 1: called dark Side, and they seem to be hackers, um 336 00:15:07,520 --> 00:15:11,400 Speaker 1: with very tiny consciousness. By conscious they stated that their 337 00:15:11,400 --> 00:15:15,280 Speaker 1: goal is to make money but not create problems for society. Uh. 338 00:15:15,280 --> 00:15:17,760 Speaker 1: And it looks like they completely failed at their at 339 00:15:17,760 --> 00:15:20,520 Speaker 1: their mission. And so while this hack does have some 340 00:15:20,600 --> 00:15:23,280 Speaker 1: national security implications, we wanted to talk about how it 341 00:15:23,320 --> 00:15:26,440 Speaker 1: affects your personal finances. Yeah. Man, it was really weird 342 00:15:26,520 --> 00:15:30,560 Speaker 1: driving around yesterday seeing gas stations either empty with like 343 00:15:30,720 --> 00:15:33,520 Speaker 1: zeros on the price board or seen the plastic bags 344 00:15:33,520 --> 00:15:36,080 Speaker 1: over the handles. I feel like, yeah, the classic no 345 00:15:36,160 --> 00:15:39,040 Speaker 1: gas here or the yellow over the gas handle. Yeah. 346 00:15:39,080 --> 00:15:41,360 Speaker 1: And and yeah, so seeing like those gas stations basically 347 00:15:41,400 --> 00:15:44,120 Speaker 1: felt abandoned because there was no gas, and like the 348 00:15:44,240 --> 00:15:47,840 Speaker 1: average gas price nationwide has now crested three dollars a 349 00:15:47,840 --> 00:15:51,640 Speaker 1: gallon because of the shutdown and probably a first that's 350 00:15:51,640 --> 00:15:54,040 Speaker 1: ever happened. The most popular app in the App store 351 00:15:54,280 --> 00:15:57,160 Speaker 1: is gas Buddy. It was the number one search for 352 00:15:57,240 --> 00:15:59,880 Speaker 1: app yesterday and it's like five and but we're in 353 00:16:00,000 --> 00:16:02,240 Speaker 1: for one of the charts baby, right right and now, 354 00:16:02,400 --> 00:16:04,840 Speaker 1: like it just beat out coin based and TikTok, and 355 00:16:04,880 --> 00:16:07,880 Speaker 1: like we know that's not gonna last, but at least 356 00:16:07,880 --> 00:16:09,960 Speaker 1: with the time being, it's humorous. But yeah, get gas 357 00:16:10,000 --> 00:16:13,200 Speaker 1: prices are now higher than we've seen since. This looks 358 00:16:13,200 --> 00:16:16,160 Speaker 1: like it's going to be fortunately a short lived phenomena 359 00:16:16,240 --> 00:16:18,840 Speaker 1: as some of those pipeline operations have already been restored, 360 00:16:19,280 --> 00:16:22,160 Speaker 1: and it looks like the pipeline is gonna be operating 361 00:16:22,200 --> 00:16:24,880 Speaker 1: at full capacity um in you know, shortly in a 362 00:16:24,880 --> 00:16:27,800 Speaker 1: few days, hopefully this weekend. Fingers crossed on that. But yeah, 363 00:16:27,840 --> 00:16:30,680 Speaker 1: if your gas tank is empty, go ahead and fill 364 00:16:30,760 --> 00:16:32,680 Speaker 1: up if you're able to find gas. But if you 365 00:16:32,760 --> 00:16:35,120 Speaker 1: live in one of those states that's severely affected and 366 00:16:35,160 --> 00:16:37,120 Speaker 1: you're sitting on like half a tank or more, don't 367 00:16:37,120 --> 00:16:39,120 Speaker 1: add to the frenzy that's been happening this week. Don't 368 00:16:39,160 --> 00:16:41,640 Speaker 1: go wait in long lines where there is gas when 369 00:16:41,680 --> 00:16:44,840 Speaker 1: you have gas. Uh, And definitely definitely Matt, like you said, 370 00:16:45,200 --> 00:16:47,680 Speaker 1: the government warning, don't put gas in a plastic bag, 371 00:16:48,000 --> 00:16:50,640 Speaker 1: hold off until you actually need to get gas. Because 372 00:16:50,640 --> 00:16:53,880 Speaker 1: this is like totally one of those situations where one 373 00:16:53,920 --> 00:16:56,320 Speaker 1: station runs out of gas, it makes the news, everyone 374 00:16:56,320 --> 00:16:59,200 Speaker 1: starts panic buying, which leads to just worse shortages than 375 00:16:59,400 --> 00:17:01,880 Speaker 1: there are otherwise would have been. And like these outages 376 00:17:02,280 --> 00:17:04,840 Speaker 1: have spread to even other states that weren't really affected. 377 00:17:05,080 --> 00:17:08,040 Speaker 1: Uh but because people just started panic buying because they 378 00:17:08,080 --> 00:17:10,359 Speaker 1: saw the news, and there wouldn't have been a shortage 379 00:17:10,440 --> 00:17:12,520 Speaker 1: at all in a lot of those states. So yeah, 380 00:17:12,560 --> 00:17:14,000 Speaker 1: we just all need to kind of calm down, take 381 00:17:14,000 --> 00:17:15,720 Speaker 1: a deep breath, and gas is going to be back 382 00:17:15,720 --> 00:17:18,360 Speaker 1: at year local gas station in in just a few days, 383 00:17:18,400 --> 00:17:20,399 Speaker 1: I think. I don't think this is gonna be a 384 00:17:20,440 --> 00:17:22,919 Speaker 1: long drawn out deal, but yeah, it has been like 385 00:17:23,000 --> 00:17:25,000 Speaker 1: an interesting few days on that front. Yeah, if you're 386 00:17:25,040 --> 00:17:27,879 Speaker 1: wealthy last year, then you had toilet paper in hand sanitizer. 387 00:17:28,320 --> 00:17:30,160 Speaker 1: Uh this week it means having gas in the tank 388 00:17:30,520 --> 00:17:32,479 Speaker 1: or trash backs full of gas, which is not Seriously, 389 00:17:32,520 --> 00:17:34,399 Speaker 1: don't do that. Uh So, Yeah, some folks in the 390 00:17:34,440 --> 00:17:37,800 Speaker 1: US are desperate for gas. Others are desperate to buy 391 00:17:37,840 --> 00:17:41,600 Speaker 1: a car, but supply is low and prices are far 392 00:17:41,720 --> 00:17:43,800 Speaker 1: higher than they were a year ago. This is in 393 00:17:43,880 --> 00:17:47,320 Speaker 1: part due to the chip shortage that has continued to 394 00:17:47,440 --> 00:17:51,920 Speaker 1: be incredibly problematic during the pandemic, affecting everything from tablets 395 00:17:52,000 --> 00:17:54,919 Speaker 1: to two TVs and more. And car production has been 396 00:17:55,000 --> 00:17:58,440 Speaker 1: hit hard by the shortage. To some dealer lots are 397 00:17:58,520 --> 00:18:01,400 Speaker 1: just completely depleted of inventory, probably one of the first 398 00:18:01,400 --> 00:18:04,119 Speaker 1: times that has ever happened. Right, Folks in the market 399 00:18:04,200 --> 00:18:06,240 Speaker 1: for a new car are just finding it tough to 400 00:18:06,240 --> 00:18:09,439 Speaker 1: find what they are looking for. Uh forward, there are 401 00:18:09,520 --> 00:18:12,560 Speaker 1: literally going to be manufacturing half the numbers of cars 402 00:18:12,560 --> 00:18:15,160 Speaker 1: that they planned on making this quarter, which is insane. 403 00:18:15,560 --> 00:18:17,800 Speaker 1: Um GM even said this week to that prices on 404 00:18:17,840 --> 00:18:20,680 Speaker 1: trucks have re sent ten percent in recent months, while 405 00:18:20,840 --> 00:18:24,080 Speaker 1: suv prices have even gone up, and so we have 406 00:18:24,119 --> 00:18:26,320 Speaker 1: seen some of these bottlenecks that have affected a supply 407 00:18:26,359 --> 00:18:28,800 Speaker 1: and demand reflected not only in what we can get 408 00:18:28,800 --> 00:18:30,440 Speaker 1: our hands on it, but in the prices as well. 409 00:18:30,520 --> 00:18:33,320 Speaker 1: That's true. Yeah, and when the price goes up, there's 410 00:18:33,359 --> 00:18:35,760 Speaker 1: more sticker shock at the financing table, and that means 411 00:18:35,800 --> 00:18:38,440 Speaker 1: in all likelihood, if someone is financing a new car purchase, 412 00:18:38,480 --> 00:18:40,520 Speaker 1: which not our favorite thing to do, but if you 413 00:18:40,560 --> 00:18:42,800 Speaker 1: do that, your payments are going to be higher than 414 00:18:42,840 --> 00:18:44,600 Speaker 1: they would have been a year or two ago, right, 415 00:18:45,240 --> 00:18:47,960 Speaker 1: And so what's happening in response to that, Well, Bloomberg 416 00:18:48,040 --> 00:18:51,119 Speaker 1: reports that car loans are getting longer in order to 417 00:18:51,119 --> 00:18:53,800 Speaker 1: help people feel more comfortable with that higher price tag. 418 00:18:54,200 --> 00:18:57,040 Speaker 1: Eighty four month car loans are becoming more common, and 419 00:18:57,280 --> 00:18:59,960 Speaker 1: some banks and lenders are now making ninety six month 420 00:19:00,080 --> 00:19:03,480 Speaker 1: loans as well. So, yeah, buying a car that takes 421 00:19:03,680 --> 00:19:06,280 Speaker 1: eight years to pay off, that's a financial no deal. 422 00:19:06,320 --> 00:19:08,320 Speaker 1: Oh my gosh, such a bad such a bad idea. 423 00:19:08,560 --> 00:19:10,840 Speaker 1: So don't do that. But yeah, if this is actually 424 00:19:10,840 --> 00:19:12,600 Speaker 1: what it takes for you to be able to afford 425 00:19:12,760 --> 00:19:16,000 Speaker 1: that vehicle, you're making a bad decision. It's a bad 426 00:19:16,040 --> 00:19:18,480 Speaker 1: move to buy that car. Uh. You know, Matt and 427 00:19:18,520 --> 00:19:20,840 Speaker 1: I were the opinion that forty eight month loans are 428 00:19:20,880 --> 00:19:23,160 Speaker 1: the longest you should consider paying a car off. Over 429 00:19:23,240 --> 00:19:26,480 Speaker 1: four years, that's the longest loan term you should even 430 00:19:26,520 --> 00:19:28,919 Speaker 1: be considering. And then and even then, we're partial to 431 00:19:28,960 --> 00:19:32,280 Speaker 1: paying for cars in cash, and if it means driving 432 00:19:32,400 --> 00:19:34,720 Speaker 1: what you have even longer than you intended to and 433 00:19:34,800 --> 00:19:36,720 Speaker 1: opting to buy a used car maybe instead of a 434 00:19:36,760 --> 00:19:38,800 Speaker 1: new one. Not that those are a whole lot cheaper 435 00:19:38,800 --> 00:19:42,359 Speaker 1: these days, but like, yeah, we would say that that's 436 00:19:42,400 --> 00:19:44,640 Speaker 1: a better route to go. And I wanted to add 437 00:19:44,680 --> 00:19:46,720 Speaker 1: this on to Matt just to like help people think. 438 00:19:47,160 --> 00:19:49,440 Speaker 1: Sometimes you have an old car and there's repairs coming up, 439 00:19:49,600 --> 00:19:52,240 Speaker 1: and you overthink how much it's actually costing you, and 440 00:19:52,280 --> 00:19:53,760 Speaker 1: you're like, actually, just get a new car because I 441 00:19:53,800 --> 00:19:56,919 Speaker 1: don't want to pay for the repairs. Don't get nickeled 442 00:19:56,960 --> 00:19:58,879 Speaker 1: and dime to death. Exactly that's what you think. But 443 00:19:58,920 --> 00:20:00,800 Speaker 1: if you get too bummed about paying for the repairs 444 00:20:00,840 --> 00:20:03,040 Speaker 1: on your current car and you think the buying news 445 00:20:03,040 --> 00:20:04,880 Speaker 1: the way to go, well one think about the stat 446 00:20:04,920 --> 00:20:07,480 Speaker 1: that Matches said the sticker shock is going up in 447 00:20:07,480 --> 00:20:09,760 Speaker 1: a big way, and then remind yourself of these numbers. 448 00:20:10,000 --> 00:20:11,880 Speaker 1: The average repair costs on a five year old car 449 00:20:12,280 --> 00:20:15,639 Speaker 1: two five dollars per year. The average repair costs on 450 00:20:15,680 --> 00:20:18,680 Speaker 1: a ten year old car four and thirty dollars per year, 451 00:20:18,800 --> 00:20:21,159 Speaker 1: according to Consumer Reports. So yeah, even if you have 452 00:20:21,200 --> 00:20:24,639 Speaker 1: a decade old car, the annual repair costs on that 453 00:20:24,680 --> 00:20:28,680 Speaker 1: car are going to cost less than one payment one 454 00:20:28,720 --> 00:20:31,840 Speaker 1: payment on that new car that you end up buying. Yeah, dude, 455 00:20:31,880 --> 00:20:33,719 Speaker 1: I think people just need to be honest with themselves, right, 456 00:20:33,920 --> 00:20:36,199 Speaker 1: because it's not that the payments are going to be 457 00:20:36,440 --> 00:20:39,200 Speaker 1: less by having to pay for maintenance. Uh. In reality, 458 00:20:39,200 --> 00:20:42,239 Speaker 1: it's not about the money. They just want that new car, right. 459 00:20:42,280 --> 00:20:44,840 Speaker 1: They want that new car smell, they want the aroma 460 00:20:44,920 --> 00:20:48,040 Speaker 1: of fake leather seats, like whatever it is that draws 461 00:20:48,080 --> 00:20:50,000 Speaker 1: them to, you know, getting a new vehicle. They don't 462 00:20:50,000 --> 00:20:51,640 Speaker 1: want the annoyance of having to go get the repair 463 00:20:51,680 --> 00:20:53,199 Speaker 1: down and going to the mechanic. And I agree, like 464 00:20:53,200 --> 00:20:55,359 Speaker 1: it can be annoying, but it doesn't have to be 465 00:20:55,400 --> 00:20:58,240 Speaker 1: a financial setback. It should be something that we're planning 466 00:20:58,280 --> 00:21:00,679 Speaker 1: for every month, set aside a little bit of because 467 00:21:00,880 --> 00:21:02,360 Speaker 1: you know what, you're gonna have to change the oil, 468 00:21:02,400 --> 00:21:04,520 Speaker 1: You're gonna have to get the brakes changed, uh, new 469 00:21:04,560 --> 00:21:07,600 Speaker 1: tires like these are all aspects of maintaining a vehicle. 470 00:21:07,680 --> 00:21:09,760 Speaker 1: And you know, if you maintain a vehicle, you can 471 00:21:09,800 --> 00:21:12,880 Speaker 1: continue driving that thing for years and years down the road. 472 00:21:13,040 --> 00:21:15,159 Speaker 1: Don't think that just because you have just because the 473 00:21:15,160 --> 00:21:17,119 Speaker 1: engine light comes on, that's not an excuse to go 474 00:21:17,119 --> 00:21:20,000 Speaker 1: get a new car. And so while some industries and 475 00:21:20,000 --> 00:21:24,360 Speaker 1: businesses like Ford have significantly slowed things down, there are 476 00:21:24,400 --> 00:21:27,600 Speaker 1: some businesses, Uh, some brick and mortars to be specific, 477 00:21:27,840 --> 00:21:30,920 Speaker 1: that have only been ramping up over the past year. Dude, 478 00:21:30,920 --> 00:21:33,080 Speaker 1: if if we were to ask our listeners what store 479 00:21:33,119 --> 00:21:36,080 Speaker 1: opened the most locations this past year, uh, what do 480 00:21:36,119 --> 00:21:37,600 Speaker 1: you think they would guess? Well? I asked my wife 481 00:21:37,640 --> 00:21:39,920 Speaker 1: this question just to kind of like, you know, figure 482 00:21:39,920 --> 00:21:43,040 Speaker 1: out what what she thought. She she said, Target, It's 483 00:21:43,160 --> 00:21:45,480 Speaker 1: I guess it's a good guess, but you're on. Yeah, 484 00:21:45,520 --> 00:21:48,520 Speaker 1: it actually turns out that the answer is Dollar General. 485 00:21:48,800 --> 00:21:52,399 Speaker 1: All of the major dollar stores are expanding rapidly, but 486 00:21:52,440 --> 00:21:55,520 Speaker 1: Dollar General is opening up stores faster than Joel can say. 487 00:21:55,640 --> 00:21:58,679 Speaker 1: Roth Ira Ah, I can say pretty fast. But and 488 00:21:58,720 --> 00:22:01,359 Speaker 1: also it's I ra a. It's some folks say Ira. No, 489 00:22:01,640 --> 00:22:05,160 Speaker 1: you don't know, you shouldn't you can. It does spell ira, 490 00:22:05,320 --> 00:22:07,320 Speaker 1: but it's I r A. I was like a name, 491 00:22:07,400 --> 00:22:10,760 Speaker 1: not the abbreviation for your retirement exactly. So, I mean, 492 00:22:10,760 --> 00:22:13,720 Speaker 1: we're not against dollar stores necessarily, but we just hate 493 00:22:13,720 --> 00:22:16,840 Speaker 1: seeing dollar stories becoming a main staple in in many 494 00:22:16,840 --> 00:22:20,240 Speaker 1: inner city and rural communities. We don't feel that they're 495 00:22:20,240 --> 00:22:23,200 Speaker 1: the best thing for our our communities. Yeah, yeah, Matt, 496 00:22:23,200 --> 00:22:26,280 Speaker 1: I agree that these stores often aren't a great sign 497 00:22:26,320 --> 00:22:29,080 Speaker 1: for the communities that they're entering. And although you would 498 00:22:29,080 --> 00:22:31,639 Speaker 1: think that cheap stuff would be great for folks with 499 00:22:31,680 --> 00:22:33,880 Speaker 1: lower incomes, that you and I would be big proponents 500 00:22:33,880 --> 00:22:36,360 Speaker 1: of dollar stores because we like to save money, right man, Joel, 501 00:22:36,400 --> 00:22:38,919 Speaker 1: they're cheap, They probably love the dollar store there all 502 00:22:38,920 --> 00:22:41,920 Speaker 1: the time. Not so though, dear listener, and like, yeah, yeah, 503 00:22:41,920 --> 00:22:44,480 Speaker 1: many many of the products sold at the dollar stores 504 00:22:44,720 --> 00:22:47,800 Speaker 1: don't offer a whole lot of value, And although they 505 00:22:47,880 --> 00:22:50,240 Speaker 1: function for some folks like a grocery store, they're actually 506 00:22:50,320 --> 00:22:54,080 Speaker 1: driving out Matt some of the grocery stores in many communities, 507 00:22:54,240 --> 00:22:56,080 Speaker 1: and then people are forced to buy some of their 508 00:22:56,119 --> 00:22:58,840 Speaker 1: groceries at the dollar store because it's the closest place 509 00:22:58,880 --> 00:23:01,639 Speaker 1: to them, like and there's not a grocery store anywhere nearby. 510 00:23:02,240 --> 00:23:04,560 Speaker 1: Because of the proliferation of some of these dollar stores, 511 00:23:04,880 --> 00:23:08,199 Speaker 1: the healthy offerings are almost non existent. And many of 512 00:23:08,200 --> 00:23:11,199 Speaker 1: these dollar stores, and a very small number of these 513 00:23:11,240 --> 00:23:14,760 Speaker 1: stores offer fresh produce, like five percent of them, and 514 00:23:14,800 --> 00:23:17,320 Speaker 1: it's slim pickings of the few that do. So yeah, 515 00:23:17,359 --> 00:23:19,760 Speaker 1: we would suggest instead checking out Aldi if you do 516 00:23:19,840 --> 00:23:22,679 Speaker 1: have one close by. Aldi also made the list of 517 00:23:22,720 --> 00:23:24,760 Speaker 1: the top number of stores opening this year, So I 518 00:23:24,800 --> 00:23:26,320 Speaker 1: was glad to see that at least while there's like 519 00:23:26,760 --> 00:23:29,520 Speaker 1: a ridiculous amount, like these dollar stores are proliferating like 520 00:23:29,600 --> 00:23:31,679 Speaker 1: rabbits Um, I like to see that all the is 521 00:23:31,760 --> 00:23:35,560 Speaker 1: at least doing the same footprints. And so, yeah, they 522 00:23:35,600 --> 00:23:38,600 Speaker 1: have a similar kind of business model. Because their footprints 523 00:23:38,640 --> 00:23:40,800 Speaker 1: are smaller, they can go into places that some of 524 00:23:40,800 --> 00:23:43,760 Speaker 1: the traditional grocery store chains can't. Yeah, they're just a 525 00:23:43,760 --> 00:23:46,119 Speaker 1: lot more nimble. But at the same time, I'm slightly 526 00:23:46,119 --> 00:23:48,720 Speaker 1: offended that you would even kind of put aldi in 527 00:23:48,760 --> 00:23:51,560 Speaker 1: the same sentence as a Dollar General. I just mean 528 00:23:51,640 --> 00:23:55,080 Speaker 1: size wise, and you know, they're both, you know, growing rapidly. 529 00:23:55,440 --> 00:23:57,159 Speaker 1: But one of those is a good thing and the 530 00:23:57,160 --> 00:23:58,919 Speaker 1: other one, we would say is a bad thing, not 531 00:23:59,080 --> 00:24:01,119 Speaker 1: so good. I don't like seeing that literally one in 532 00:24:01,200 --> 00:24:04,280 Speaker 1: three new stores opening right now it is a Dollar General. Yeah, 533 00:24:04,600 --> 00:24:06,359 Speaker 1: but I was glad to see that. I think all 534 00:24:06,440 --> 00:24:08,280 Speaker 1: these number six on the list as far as new 535 00:24:08,400 --> 00:24:11,080 Speaker 1: stores that they're gonna be opening this year. So all right, Matt, 536 00:24:11,240 --> 00:24:13,800 Speaker 1: one last story I wanted to mention, and this one 537 00:24:14,000 --> 00:24:16,879 Speaker 1: kind of feels a little off from what we normally 538 00:24:16,880 --> 00:24:20,360 Speaker 1: cover on the show. But you know, obviously everyone's heard 539 00:24:20,359 --> 00:24:22,679 Speaker 1: at this point that Bill and Melinda Gates are getting 540 00:24:22,720 --> 00:24:28,280 Speaker 1: divorced and this is our new gossip corner section mentioned 541 00:24:28,280 --> 00:24:30,880 Speaker 1: not the end of the episode. Yeah, no, definitely want 542 00:24:30,880 --> 00:24:32,800 Speaker 1: to stay away from the gossip. You know, and you 543 00:24:32,840 --> 00:24:35,000 Speaker 1: and I we hate seeing any relationship torn of heart 544 00:24:35,240 --> 00:24:38,320 Speaker 1: and um tough news. Um, I'm sure that's really tough 545 00:24:38,520 --> 00:24:41,120 Speaker 1: for both of them right now. But yeah, one thing 546 00:24:41,200 --> 00:24:44,240 Speaker 1: that I read about this this week struck me, and 547 00:24:44,280 --> 00:24:46,720 Speaker 1: it's this major way Bill and Melinda they live in 548 00:24:46,720 --> 00:24:49,640 Speaker 1: this like huge lakefront home in Washington. I don't even 549 00:24:49,680 --> 00:24:50,879 Speaker 1: know if you can call it at home because it's 550 00:24:50,880 --> 00:24:53,800 Speaker 1: basically this like sixties six thousand square foot compound. It 551 00:24:53,880 --> 00:24:56,919 Speaker 1: is a very I saw some of like the aerial shots. Uh, 552 00:24:57,160 --> 00:24:59,600 Speaker 1: it's really cool looking. It is that it looks cool. 553 00:25:00,000 --> 00:25:02,600 Speaker 1: But yeah, apparently it's worth more than a hundred thirty 554 00:25:02,600 --> 00:25:06,080 Speaker 1: million dollars. But someone had highlighted this interview with Militigates 555 00:25:06,160 --> 00:25:08,480 Speaker 1: with the New York Times in the fall, and one 556 00:25:08,480 --> 00:25:10,399 Speaker 1: thing that she said caught my attention. She said that 557 00:25:10,480 --> 00:25:13,080 Speaker 1: she looks forward to a time when she can live 558 00:25:13,119 --> 00:25:16,359 Speaker 1: in a fift hundred square foot house, And to me, 559 00:25:16,520 --> 00:25:18,919 Speaker 1: that was just this great reminder almost coming full circle 560 00:25:19,040 --> 00:25:20,840 Speaker 1: back to like the shock stuff at the beginning of 561 00:25:20,880 --> 00:25:23,679 Speaker 1: the episode, it was just reminder to me that folks 562 00:25:23,720 --> 00:25:26,800 Speaker 1: with huge homes, ridiculous amounts of money aren't any happier 563 00:25:26,840 --> 00:25:29,280 Speaker 1: than you or I are, and like the grass isn't 564 00:25:29,280 --> 00:25:31,560 Speaker 1: always greener on the other side, right, And so it's 565 00:25:31,560 --> 00:25:32,920 Speaker 1: important for us all have to take a look to 566 00:25:32,960 --> 00:25:34,720 Speaker 1: have some gratitude. I think a lot of people living 567 00:25:34,720 --> 00:25:36,800 Speaker 1: in fifteen d square foot homes are like, you know, 568 00:25:36,800 --> 00:25:41,080 Speaker 1: it would be awesome sat or sixty thousand squarefoot home. 569 00:25:41,240 --> 00:25:43,960 Speaker 1: Like we always think like that having those things or 570 00:25:44,080 --> 00:25:46,600 Speaker 1: like getting to that point is what's gonna make us happy. 571 00:25:46,640 --> 00:25:49,520 Speaker 1: And it's just so interesting to see that the shoe 572 00:25:49,520 --> 00:25:51,520 Speaker 1: being on the other foot, that person is not any 573 00:25:51,560 --> 00:25:53,600 Speaker 1: happier and in fact, they almost wish they had to 574 00:25:53,680 --> 00:25:56,119 Speaker 1: life that that we have um. And so it just 575 00:25:56,160 --> 00:25:57,960 Speaker 1: made me, you know, riding my back around the neighborhood 576 00:25:57,960 --> 00:26:01,199 Speaker 1: this week, I'm just like seeing everything around me in 577 00:26:01,680 --> 00:26:03,960 Speaker 1: in an even more intense way, like just having thanks 578 00:26:04,040 --> 00:26:07,760 Speaker 1: for my neighbors, my streets, uh, my house, like my family, 579 00:26:07,840 --> 00:26:11,400 Speaker 1: just all the things that are really important. And so yeah, 580 00:26:11,440 --> 00:26:13,600 Speaker 1: I wish the best to Bill and Melinda. We don't 581 00:26:13,600 --> 00:26:15,480 Speaker 1: know them at all, but but I you know, I 582 00:26:15,560 --> 00:26:17,800 Speaker 1: hope they're I hope they're able to regain some happiness. 583 00:26:18,000 --> 00:26:19,439 Speaker 1: But I thought that was just a good thing for 584 00:26:19,520 --> 00:26:22,040 Speaker 1: us all to think about as we're building wealth, as 585 00:26:22,040 --> 00:26:24,840 Speaker 1: we're focusing on our money. Money isn't everything, and it 586 00:26:24,880 --> 00:26:28,040 Speaker 1: doesn't buy you happiness. And sometimes a fifteen square foot 587 00:26:28,080 --> 00:26:30,400 Speaker 1: house is all you need to be happy. That's true, man. Yeah, 588 00:26:30,560 --> 00:26:32,480 Speaker 1: it can be easy to think that just by having 589 00:26:32,480 --> 00:26:34,880 Speaker 1: more money, that that's going to solve all of our 590 00:26:35,000 --> 00:26:37,200 Speaker 1: different problems, you know, that we have in life. Uh, 591 00:26:37,320 --> 00:26:38,760 Speaker 1: we can kind of fall into that trap of just 592 00:26:38,800 --> 00:26:41,280 Speaker 1: wanting more and more and more things more money, because 593 00:26:41,280 --> 00:26:43,320 Speaker 1: then you can buy like that new phone, maybe you 594 00:26:43,320 --> 00:26:45,040 Speaker 1: can buy that fancier car. Maybe you can then buy 595 00:26:45,080 --> 00:26:47,399 Speaker 1: like a vacation home. At that point, that's when you 596 00:26:47,480 --> 00:26:49,520 Speaker 1: might be tempted to think that, you know, you'd be happy. 597 00:26:49,560 --> 00:26:51,040 Speaker 1: But but even then, once you got the lake house, 598 00:26:51,040 --> 00:26:53,280 Speaker 1: you gotta have the jet ski, you know. Like it's 599 00:26:53,320 --> 00:26:55,440 Speaker 1: like there's a never ending list of stuff we need 600 00:26:55,480 --> 00:26:58,840 Speaker 1: to be searching for happiness and contentment regardless of how 601 00:26:58,920 --> 00:27:02,240 Speaker 1: much money we currently have. Alright, dude, well that's gonna 602 00:27:02,240 --> 00:27:05,280 Speaker 1: be for this episode. Listeners can find links to all 603 00:27:05,320 --> 00:27:07,479 Speaker 1: the different stories that we mentioned during this episode, as 604 00:27:07,480 --> 00:27:09,280 Speaker 1: well as any other helpful links that we may have 605 00:27:09,359 --> 00:27:11,919 Speaker 1: mentioned during the show up on our website at how 606 00:27:11,960 --> 00:27:14,680 Speaker 1: to money dot com. And we've got a listener question 607 00:27:14,760 --> 00:27:17,719 Speaker 1: episode coming up on Monday. So if you're not subscribed 608 00:27:17,800 --> 00:27:20,000 Speaker 1: to the podcast, make sure to hit the subscribe button 609 00:27:20,280 --> 00:27:23,040 Speaker 1: so you get notified when we release new episodes. But 610 00:27:23,240 --> 00:27:25,400 Speaker 1: have a great weekend, all right, Matt. Until next time, 611 00:27:25,680 --> 00:27:42,359 Speaker 1: Best friends out, Best friends Out, No soup for you.