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Speaker 1: Welcome to had a money. I'm Joel and I am that.

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Speaker 1: And today we're talking about instant e bikes, sputtering savings

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Speaker 1: and all these assent.

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Speaker 2: That's right, Aldi's going to the top. If I invested

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Speaker 2: in the single stock stroll and if Aldi was traded publicly,

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Speaker 2: I would own some Aldi's stock because they're qushing it right.

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Speaker 1: Yeah. Well, and just when you believe in the mission

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Speaker 1: of a retail it's kind of like Costco. It's like

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Speaker 1: owning some Costco stock or what do you own a

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Speaker 1: little bit of Cosco? I do own a little bit

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Speaker 1: of Costco. I feel like I should own a little bit,

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Speaker 1: just because I'm so passionate about the company.

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Speaker 2: There was this I literally want to be invested with

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Speaker 2: this company that I think treats people so well and

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Speaker 2: provides a fantastic product for families out there.

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Speaker 1: There was a long form article in the New York

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Speaker 1: Times just last week. I think about Costco and what

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Speaker 1: makes them so different? What's the some apart? And it's

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Speaker 1: it's a fascinating read. I mean, just as someone who's

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Speaker 1: somewhat obsessed with Costco. But they kind of talked about

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Speaker 1: the secret to Costco's success and even just kind of

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Speaker 1: part of the secrecy culture of Costco. Had there are

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Speaker 1: a lot of things that they just don't say out loud.

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Speaker 1: You have the kind of intimate about what's going on

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Speaker 1: behind the scenes. But it's definitely one of the best

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Speaker 1: run companies in the world.

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Speaker 2: Oh yeah, but uh yeah, this is our Friday flight.

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Speaker 2: We hope everyone has had a fantastic week. Have you

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Speaker 2: had a fantastic week.

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Speaker 1: Joel, It's been good. Yeah, been great.

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Speaker 2: So we will be talking about all the maybe Costco,

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Speaker 2: but we will be getting to the other money stories

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Speaker 2: that we think are going to be most pertinent to

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Speaker 2: your personal finances.

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Speaker 1: So, Matt on Monday, we had a listener question about, Hey,

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Speaker 1: I'd done this money challenge and had a bunch of

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Speaker 1: money socked away after that, the envelope challenge, that.

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Speaker 2: One hundred envelope challenge, Yeah, specifically.

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Speaker 1: And so we were trying to help him figure out

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Speaker 1: what should he and his family do with this massive

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Speaker 1: chunk of change. And then I noticed in the how

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Speaker 1: to Money Facebook group, which is a wonderful place, listener

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Speaker 1: Jeff said, apparently he's not a fan of the envelope challenge.

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Speaker 1: He's not a fan of some of these money saving

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Speaker 1: challenges out there was a deal, all right, so he said,

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Speaker 1: and I'm gonna quote here, he said, it's great if

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Speaker 1: the money you quote unquote save comes from reducing your

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Speaker 1: expenses or increasing your income. But if you're just filling

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Speaker 1: envelopes with cash taken from an account or that you

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Speaker 1: have at home, you're not really saving anything. And so

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Speaker 1: I totally get where he's coming from, because we were

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Speaker 1: talking about how these savings challenges can be really great,

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Speaker 1: they can help jump start something. But I get what

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Speaker 1: he's saying. If you have the money in a savings account,

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Speaker 1: you just stuff it into an envelope instead, and you're

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Speaker 1: not making any practical changes to your day to day spending,

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Speaker 1: it can feel like a mirage of savings. So I

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Speaker 1: don't know what's your take.

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Speaker 2: Yeah, well, I think what he said was was spot

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Speaker 2: on right, Like it has to be a result of

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Speaker 2: you not spending that money, which is I feel like

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Speaker 2: that's that's kind of how we talked about it. But

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Speaker 2: I also understand the criticism that it's not like you're

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Speaker 2: magically appearing some money out of nowhere, like it's your money,

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Speaker 2: You're just it's mental accounting and you're moving it, perhaps

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Speaker 2: from one area of your life to another, and maybe a.

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Speaker 1: Place in your life where it would have been easier

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Speaker 1: to spay. And now you're kind of siphoning it away

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Speaker 1: and you're saying.

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Speaker 2: No designated, it's got a name, and that's what And

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Speaker 2: we talked about this on Monday. But but that couple,

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Speaker 2: I mean, they were saving that money without necessarily having

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Speaker 2: a goal attached to it, and that can just make

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Speaker 2: it so much more powerful, the ability to I don't know,

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Speaker 2: I assigned those dollars to a specific task. I also

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Speaker 2: understand too, that not everyone is going to get behind

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Speaker 2: the like just money challenges, like if you are super disciplined,

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Speaker 2: if you don't like having fun with your personal finance,

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Speaker 2: which is honestly, like, I don't really do money challenges

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Speaker 2: because I've created this this wonka like budget, you know,

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Speaker 2: machine in a.

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Speaker 1: Like makes it sound fun, well, but it's not fun.

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Speaker 2: It's just this contraption. It's just overly complex.

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Speaker 1: This is what I'm getting.

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Speaker 2: But like, all my income goes into there, and like

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Speaker 2: I just crank it and at the end of the month,

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Speaker 2: it tells me where it should go based on decisions

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Speaker 2: that I have already made, but not everybody is like that.

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Speaker 2: Sometimes folks need to they want to spice it up

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Speaker 2: a little bit. For those folks, I think the money

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Speaker 2: challenges can be fantastic. Agreed.

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Speaker 1: I think that's what money challenges can be for lots

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Speaker 1: of people. It's like it started. It's a pattern, right

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Speaker 1: to basically base some of your decisions on, and whether

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Speaker 1: it's a sell your stuff challenge or a fund your

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Speaker 1: roth Ira challenge, like, typically that money is coming from

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Speaker 1: somewhere and people are having to make changes to their

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Speaker 1: budget and to their spending patterns in order to accrue

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Speaker 1: those savings, because otherwise they would have been, you know,

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Speaker 1: saving like in a pretty solid way month after month,

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Speaker 1: and they would have had some of those savings built up.

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Speaker 1: But a lot of people have found, hey, this challenge

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Speaker 1: at least helps me get that habit started doing the

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Speaker 1: thing I want to do. But yeah, I again, I

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Speaker 1: completely get jeffs beef with some of the money challenges.

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Speaker 1: I guess I just also think that they almost always

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Speaker 1: come with some sort of lifestyle change. People are realizing, Hey,

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Speaker 1: if I want to save this kind of money, I

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Speaker 1: have to do something different in the spending area of

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Speaker 1: my finances or it's not going to happen, like they're

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Speaker 1: not just pulling it from one account and putting it

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Speaker 1: into an envelope. Typically it means there's some sort of

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Speaker 1: underlying change in order to amass that kind of savings

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Speaker 1: and that sort of you know short or like that.

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Speaker 1: That's true.

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Speaker 2: Yeah, So, as you said some of the different challenges,

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Speaker 2: I remember that I did participate money challenge, which was

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Speaker 2: the cellar stuff challenge.

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Speaker 1: Will is a great one. It is a good one,

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Speaker 1: and that's one where you literally are making money appear.

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Speaker 2: It didn't work for me, Like I tried because I thought, Okay,

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Speaker 2: here's a cool way that I can unload a bunch

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Speaker 2: of stuff that we have make some money on the side.

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Speaker 2: But yeah, I had a difficult time sticking with it.

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Speaker 1: It also has the double impact of decluttering, which is like, well, that's.

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Speaker 2: Why I wanted to I mean that specifically is why

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Speaker 2: I was looking to take that challenge on, but then

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Speaker 2: I found it. It also had like part time job

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Speaker 2: like qualities, which is part of why I fell off

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Speaker 2: the wagon. But Joel, let's talk about one of the

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Speaker 2: ways folks are spending less on their transportation. Car free

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Speaker 2: communities they are becoming more of a thing. More people

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Speaker 2: outside of just New York City are looking to be

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Speaker 2: less dependent on their vehicles in order to get around.

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Speaker 2: There's this fairly new community. It's called Cul de Sac.

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Speaker 2: It launched a bit outside of downtown Phoenix a few

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Speaker 2: years ago, and the design of this planned community is

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Speaker 2: all about being car free from the get go, as

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Speaker 2: they attempt to be close to public transportation and one

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Speaker 2: of the ways they're able to decrease the number of

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Speaker 2: cars that folks who live their own. They've also got

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Speaker 2: a fleet of e bikes, which is pretty awesome, yeah,

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Speaker 2: and pretty much everything else that you want one on

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Speaker 2: hand just to live a happy personal life. They've got

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Speaker 2: a lot of things built into the infrastructure of the

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Speaker 2: little community, like gyms, grocery stores. I think I saw

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Speaker 2: a cream convenience store, which was a big win in

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Speaker 2: my book. They're planning to build a couple more of

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Speaker 2: these Cold de Sac communities in the near future, including

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Speaker 2: one in the Atlanta area, and bottom line, we think

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Speaker 2: this is pretty cool. Folks out there who are into

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Speaker 2: personal finance might recognize the name of the community from

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Speaker 2: Pete Adney, also known as mister money Mustache as this

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Speaker 2: is something that he has written about. But we're huge fans,

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Speaker 2: especially of relying on bikes in order to get around.

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Speaker 2: There's a reason why our first episode that we ever

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Speaker 2: created it was a terrible episode because it was literally

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Speaker 2: the first one you want to go back, and it

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Speaker 2: was all about why it is that you should be

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Speaker 2: biking more. We are huge fans silver bowlt in personal finance,

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Speaker 2: but if there was one, I think bikes are pretty

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Speaker 2: darn close to as as it gets.

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Speaker 1: It's the lifestyle factor, it hits the fitness factor, it

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Speaker 1: hits the money saving factor. Riding your bike more just

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Speaker 1: makes sense. I ran into a dad on also riding

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Speaker 1: taking his kid to school this morning on the cargo

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Speaker 1: e bike. There's a sense of solidarity. Yeah, I feel

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Speaker 1: like we're best friends already and I just met him.

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Speaker 2: We should grab beers me right from the same cloth,

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Speaker 2: exactly right, Kindred spirits new body friend come on and

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Speaker 2: then he pedals off assist level five to get away

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Speaker 2: from you. That's right.

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Speaker 1: I keep it on level one so I couldn't catch up.

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Speaker 1: I saw this too. Matt Los Angeles is apparently trying

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Speaker 1: to go car free for the Olympics. I don't know

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Speaker 1: if you'd seen this as well. It's kind of fascinating

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Speaker 1: because you think of that as a city that is

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Speaker 1: purely dependent on the freeways, right, Yeah, So it'll be

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Speaker 1: interesting to see if they're able to pull that off.

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Speaker 1: I know they're they're trying to put the venues as

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Speaker 1: close to their current metro as possible, which I love

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Speaker 1: the and they're also installing more bike lanes, so go LA.

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Speaker 1: I hope it. I hope it works out.

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Speaker 2: Yeah.

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Speaker 1: And by the way, while Culdesex is kind of an

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Speaker 1: expensive place to live, Matt, it's it's not one of

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Speaker 1: the cheaper apartment complexes around. Because they put this forethought

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Speaker 1: into it, it's going to be a more expensive community.

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Speaker 1: But if you are able to ditch a car or

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Speaker 1: cars completely, it can actually allow you to come out

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Speaker 1: ahead from a financial perspective, especially you know, we know

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Speaker 1: what cars cost these days, and what they cost to ensure,

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Speaker 1: what they cost to maintain. Not having cars in your

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Speaker 1: life I means you can spend a little more on

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Speaker 1: housing and still rocket with your finances, you know, all

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Speaker 1: while being able to live in an incredibly delightful community.

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Speaker 1: And there's been this growing recognition I think that making

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Speaker 1: the automobile the center of our existence, it just doesn't

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Speaker 1: deliver the healthiest results for humans. I'm not an advocate

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Speaker 1: for going back to the horse and buggy days because

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Speaker 1: apparently there was a lot of poop in the streets, Matt,

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Speaker 1: and that wasn't really very fun to live in either.

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Speaker 1: Can you imagine living in you.

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Speaker 2: Know, plumbing. I'm also a fan of that, right.

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Speaker 1: Right exactly. But yeah, you don't necessarily need to move

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Speaker 1: to this planned community in order to live a life

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Speaker 1: that's less dependent on a car. I think it's important

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Speaker 1: to point that out as well. There's this new e

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Speaker 1: bike attachment Matt that attaches to your regular non electric bike.

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Speaker 1: It's called clip, and so you don't even have to

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Speaker 1: buy an e bike. You can literally just turn your

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Speaker 1: current bike into an electric bicycle with this device. It's

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Speaker 1: like five hundred bucks. And the cool thing is, you know,

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Speaker 1: e bikes are allowing people to commute longer distances more

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Speaker 1: comfortably than ever before. Think about actually, listener Gary who's talked,

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Speaker 1: He's reached out and told me about his commutes on

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Speaker 1: his e bike and how he ditched a car, and man,

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Speaker 1: it's been so great for his you know, physical life

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Speaker 1: and just he's just enjoyed that commute every day on

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Speaker 1: the e bike, which I feel the same way. I'm like,

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Speaker 1: there's a smile on my face every time I'm on mine,

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Speaker 1: And I think I still prefer Matt after looking into

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Speaker 1: this clip device, I still prefer the ground up e bikes.

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Speaker 1: I'd rather spend a little more for something like that,

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Speaker 1: especially if it allows you to ditch your car. But

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Speaker 1: I think the clip device might work for a bunch

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Speaker 1: of people too.

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Speaker 2: Maybe you are a fan of actual e bikes because

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Speaker 2: the clip is ugly. It is ugly because of what

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Speaker 2: I I was reading up on it. I was like, okay, uh,

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Speaker 2: because like there are a lot of electric bike manufacturers

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Speaker 2: and they're making them more affordable. Now, Like you've got

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Speaker 2: like literally your e bike is by rad Power Bikes,

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Speaker 2: and like they make some of the most affordable e

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Speaker 2: bikes out there. Electric is like it's like electric without

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Speaker 2: the E on the front or whatever. But like they're

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Speaker 2: they're making some really afference sort of what Bucks bikes

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Speaker 2: as well as seven eight hundred bucks something. So when

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Speaker 2: you think about that, it's like not that much more

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Speaker 2: for something right new, and you're able to add another

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Speaker 2: your bike, add another bike to your stable, I think

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Speaker 2: is huge and also if you've got the room. We've

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Speaker 2: talked about bikesdirect dot com, which is a fantastic place

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Speaker 2: to go for traditional bikes. I checked it out. Guess

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Speaker 2: what they're selling now, e bikes? Bikes really Yes, so

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Speaker 2: I haven't actually so I've purchased other bikes from them before.

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Speaker 2: I can't vouch for their e bikes, but if anybody

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Speaker 2: has hit us up, let us know. I would love

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Speaker 2: to think that they are just able to be another

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Speaker 2: competitor providing just a great means of transportation for a

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Speaker 2: lot of folks. But that being said, if you really

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Speaker 2: want to drive, we'll get a Toyota, and not just

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Speaker 2: because we told you to see cars. They had a

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Speaker 2: recent longevity survey and they found, unsurprisingly that Toyota they

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Speaker 2: had six of the top ten most durable models that

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Speaker 2: were were out there. I think it was like they

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Speaker 2: had seven of the top ten spots if you count Lexus,

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Speaker 2: which is basically a Toyota with leather, and they took

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Speaker 2: all five of the top spots. And so that raises

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Speaker 2: the question, well, what is durable actually mean? Fellas basically

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Speaker 2: the cars or trucks that rank highly have a dramatically

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Speaker 2: higher likelihood of hitting the two hundred and fifty thousand

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Speaker 2: mile mark. It's like the holy grail. I think that's

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Speaker 2: that's what they're gunning for. You'll also be paying less

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Speaker 2: for repairs, and you'll be at your mechanic shop less often,

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Speaker 2: and that car is likely going to depreciate at a

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Speaker 2: slower rate. But you know, consumer reports they've been seeing

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Speaker 2: this for a while. I see cars, they're agreeing with

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Speaker 2: them on this. Toyota. They are gonna save you time,

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Speaker 2: They're gonna save you money. Hassle. I've got a little

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Speaker 2: bit of foam, to be honest, the fact that I

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Speaker 2: own a Honda and not a Toyota in large part

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Speaker 2: because all the Toyotas are high as well, and I

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Speaker 2: wish I had some of the additional savings associated with

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Speaker 2: paying less at the gas pump.

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Speaker 1: It's also interesting Toyota is seeing so much success right

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Speaker 1: now because there's kind of a consumers are giving the

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Speaker 1: heisman to electric cars right now, where it felt like

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Speaker 1: every company was pivoting so hard into the EV direction,

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Speaker 1: and a lot of folks out there saying, I don't know,

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Speaker 1: I think I'm down for the hybrid right now, maybe

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Speaker 1: I'll hold itself on an Evyteps and Toyota they're kind

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Speaker 1: of the hybrid kings, So that's another reason why Toyota's

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Speaker 1: are so popular. But then to add on top of

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Speaker 1: that that your Toyota is just based on the numbers,

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Speaker 1: based on the stats, it's just going to last a

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Speaker 1: whole lot longer and give you far less trouble. It

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Speaker 1: makes sense that you would opt for one of the

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Speaker 1: most reliable cars in the game, because reliability means money savings,

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Speaker 1: especially when we're talking about a company that makes fairly

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Speaker 1: accessible cars. From a financial standpoint, Matt, let's talk about

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Speaker 1: ATM fees. I don't know the last time I went

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Speaker 1: to get cash from an ATM, but I know this

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Speaker 1: is something that people do. And so a new bank

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Speaker 1: rate survey finds that fees continue to climb at ATMs

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Speaker 1: around the country. The average fee to gain access to

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Speaker 1: your cash is now just below five bucks. I think

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Speaker 1: it's four dollars and seventy seven cents every time when

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Speaker 1: you want to use an ATM. That's at least like

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Speaker 1: the average fee you're going to encounter, which is a

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Speaker 1: lot of money, Matt. Let's say you're pulling out forty bucks,

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Speaker 1: that's like an eleven percent fee or something like that.

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Speaker 1: That's incredibly expensive to take money out. And yeah, if

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Speaker 1: you're going to an out of network ATM that isn't

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Speaker 1: the bank you do business with, you might be paying

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Speaker 1: two fees. You might be paying one to your bank

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Speaker 1: and one to the ATM owner. So that could be

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Speaker 1: really frustrating. And again, I don't really use an ATM.

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Speaker 1: They're kind of like checks for me, Matt. We talked

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Speaker 1: about this recently, how people a writing fewer and fewer

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Speaker 1: checks and more businesses are saying we're not even going

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Speaker 1: to take them at all. But I do business with

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Speaker 1: multiple banks that have ATM networks that don't charge any

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Speaker 1: money at all for withdrawal. So I can't go to

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Speaker 1: any ATM necessarily that I want.

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Speaker 2: But I can go to almost any ATM though, Yeah.

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Speaker 1: Any all point essentially right, that's what who Capital one

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Speaker 1: partners with. I can go to any of those and

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Speaker 1: night there's even a spot on the app where I

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Speaker 1: can see, Okay, where's the nearest one to me? And

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Speaker 1: so basically, if you're a frequent ATM user, you're not

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Speaker 1: just being nickeled and dimed. You're being like bludgeoned over

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Speaker 1: the head with fees, you're being five spotted, right, Yes,

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Speaker 1: so they are just really easy ways to eliminate these

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Speaker 1: fees from your life completely. Just make sure you're paying

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Speaker 1: attention to what you're actually paying, and then you're doing

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Speaker 1: business with the bank that's going to say, hey, we

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Speaker 1: actually don't charge ridiculous fees for you to access your

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Speaker 1: own money.

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Speaker 2: Yeah, and there's sort of like this barbell like effect

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Speaker 2: that's happening within banking, right, And so yeah, some banks

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Speaker 2: are raising fees, they're reducing perks for savers, but a

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Speaker 2: lot of banks out there are completely eliminating fees and

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Speaker 2: they are raising their savings rates. And the truth is,

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Speaker 2: like all the different fees that the banks charge out there,

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Speaker 2: so atm fees, overdraft fees, different account fees, they are

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Speaker 2: going up, but only for those who are allowing it,

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Speaker 2: who stick around for that party, right. Fees across the

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Speaker 2: board are being demolished, and perks are becoming more generous

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Speaker 2: for people who are savvy, for folks who are paying

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Speaker 2: attention and not just kind of going along with the flow.

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Speaker 2: But obviously for folks who aren't handling their money judiciously,

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Speaker 2: they're gonna find themselves on the flip side of the equation.

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Speaker 2: Instead of free cash withdraws, well, they're paying a pretty

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Speaker 2: penny instead of rewards for credit card usage. They're going

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Speaker 2: to be massively penalized for using plastic. And so we

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Speaker 2: just want to remind folks to pay. It's not just

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Speaker 2: the savings rate that the bank is paying you. There

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Speaker 2: are all these sort of trickle down, knock on effects

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Speaker 2: that end up costing you more money in the end.

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Speaker 2: And I want you to be picky in who it

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Speaker 2: is that you're banking with.

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Speaker 1: Yeah, so I think ally Matt, I think they refund

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Speaker 1: ten dollars a month worth of atmfs that you might occur,

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Speaker 1: which is pretty cool, no questions ask. We're just gonna

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Speaker 1: if you do encounter a five dollars fee twice, we're

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Speaker 1: gonna cover it more than that. The rest is on you.

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Speaker 1: I think Schwab is you know, investment firm, low cost

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Speaker 1: investment house. They also have a bank attached, and pretty

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Speaker 1: sure Schwab will cover any and all ATMPs might incurrent

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Speaker 1: a given month. So if you are a high frequency

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Speaker 1: atm user, look into those banks that prioritize, you know,

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Speaker 1: taking care of their customers in that way. All right,

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Speaker 1: let's talk about savings rates, Matt for a second while

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Speaker 1: we're on this note. Are those super high savings rates

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Speaker 1: going away? There's more and more stuff being written and

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Speaker 1: more and more people talking about the fact that as

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Speaker 1: the FED is looking to cut rates, well, savers are

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Speaker 1: going to get penalized again. And the answer to that

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Speaker 1: is maybe, like I do think there's a chance that

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Speaker 1: savings rates are going to go down. And actually when

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Speaker 1: you look at the numbers, rates have already climbed gone

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Speaker 1: down just a little bit. When we're talking about rates

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Speaker 1: on savings accounts, rates on CDs.

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Speaker 2: Started getting baked in a little bit.

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Speaker 1: Yeah, yeah, already that just reality that is likely coming

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Speaker 1: down the pike. Has impacted what banks, credit unions, other

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Speaker 1: financial institutions are offering. And Bloomberg had this jarring headline

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Speaker 1: about why you should ditch your HYSA, dit your high YELD,

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Speaker 1: save these account is what they were saying. Basically, what

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Speaker 1: they suggested was to put your savings into CDs because

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Speaker 1: rates are likely to continue going down. And guess what

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Speaker 1: if you toss it into a CD? You're maintaining that

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Speaker 1: rate for six months, twelve months, whatever it may be.

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Speaker 1: But should you put the money that's in your savings

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Speaker 1: account in a CD maybe, I mean if you don't

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Speaker 1: need liquidity, But most folks, Matt keep cash in savings

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Speaker 1: specifically because they might need that money. And so the

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Speaker 1: only way I think it makes sense for you to

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Speaker 1: stick money that's in a high old savings account into

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Speaker 1: a CD is if your savings is for more medium

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Speaker 1: term goals, you might consider locking it up for a

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Speaker 1: little bit in order to preserve that higher rate for

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Speaker 1: a bit longer. But other than that, I think high

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Speaker 1: old savings is the place to continue to keep money

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Speaker 1: that you need access to, you know, it's an emergency

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Speaker 1: order a rise or something like that. And by the way,

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Speaker 1: I think it's also important to take these rate predictions

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Speaker 1: with a grain of salt, because there were a lot

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Speaker 1: of rate predictions, you know, six seven, eight months ago,

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Speaker 1: Matt that turned out to be incredibly wrong, as inflation

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Speaker 1: was a lot stickier than a lot of people assume.

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Speaker 1: So our rate's going to decline precipitously in the months ahead,

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Speaker 1: maybe who knows, And so yeah, you might want to

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Speaker 1: take a bird in the hand and capture some of

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Speaker 1: these you know, higher than average CD race right now.

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Speaker 1: You also might not want to. It just depends on

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Speaker 1: your personal situation. That's true.

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Speaker 2: I think I saw that. It seems like the six

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Speaker 2: month CD right now is sort of the sweet spot.

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Speaker 2: But we've got more to get to. We're going to

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Speaker 2: talk about unlocked cell phones, maybe the return on investment

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Speaker 2: of higher education. We'll get to those stories and more

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Speaker 2: right after.

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Speaker 1: This a we're back from the break map. Now it's

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Speaker 1: time to get to the ludicrous headline of the week.

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Speaker 1: This one comes from Sherwood News, which is Robin Hood's

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Speaker 1: new news arm. They've kind of it's.

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Speaker 2: Yet to be determined if they are biased towards high

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Speaker 2: frequency trading, but I think there's a chance we could

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Speaker 2: take a guest, so we'll see.

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Speaker 1: Yeah, all right, so this headline reads why your parents

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Speaker 1: should buy you a house, So they are at least

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Speaker 1: biased towards your parents give being you money. I guess

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Speaker 1: who wouldn't be right, Like, Okay, yeah, my parents wanted

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Speaker 1: to buy me a house, and maybe they had the

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Speaker 1: money to do it. I don't know if I'm gonna

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Speaker 1: argue with them or try to change their mind. But

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Speaker 1: this article, it was really all about how much money

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Speaker 1: boomer parents have as a generation and how expensive it

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Speaker 1: is to buy a home right now, and so shouldn't

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Speaker 1: those rich adults by the younger, less affluent adults a

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Speaker 1: home to live in. Wouldn't that be nice? And yeah,

434
00:19:16,880 --> 00:19:18,840
Speaker 1: those things are both true. I think you know. New

435
00:19:18,880 --> 00:19:21,359
Speaker 1: stats show that one in ten homes in the US

436
00:19:21,440 --> 00:19:24,120
Speaker 1: now costs more than a million bucks. So if you're

437
00:19:24,119 --> 00:19:26,240
Speaker 1: looking around on Zillow or Redvan, I guess depending on

438
00:19:26,280 --> 00:19:28,280
Speaker 1: where you live, in some places it's like a million

439
00:19:28,280 --> 00:19:30,159
Speaker 1: bucks that's not going to get you anywhere, and in

440
00:19:30,200 --> 00:19:32,840
Speaker 1: other parts of the country a million bucks. Like we

441
00:19:32,840 --> 00:19:37,119
Speaker 1: don't have homes for the Governor's mansion exactly, but we

442
00:19:37,200 --> 00:19:40,360
Speaker 1: know that that housing affordability has been torched in recent years,

443
00:19:40,359 --> 00:19:42,760
Speaker 1: and so young folks who want to buy their first home,

444
00:19:43,000 --> 00:19:45,120
Speaker 1: they kind of feel like they're running into a brick wall,

445
00:19:45,200 --> 00:19:47,840
Speaker 1: especially over these past few years, as prices continue to

446
00:19:47,880 --> 00:19:49,560
Speaker 1: go up and up and up, interest rates went up

447
00:19:49,600 --> 00:19:52,240
Speaker 1: to and at the same time there just wasn't much

448
00:19:52,280 --> 00:19:54,520
Speaker 1: supply on the market in a lot of competition, it

449
00:19:55,160 --> 00:19:58,000
Speaker 1: felt like it basically impossible to buy the home that

450
00:19:58,040 --> 00:20:00,720
Speaker 1: you wanted to get and so apparently the hits are

451
00:20:00,760 --> 00:20:03,760
Speaker 1: according to this article, was to ask mom and dad

452
00:20:04,160 --> 00:20:06,880
Speaker 1: to help fund that purchase, and depending on your relationship

453
00:20:06,880 --> 00:20:08,640
Speaker 1: with your folks, I don't know, might not work out

454
00:20:08,640 --> 00:20:11,080
Speaker 1: too poorly. They might be into this. But it's also

455
00:20:11,160 --> 00:20:16,440
Speaker 1: important to mention that money can complicate relationships. Expectations are

456
00:20:16,520 --> 00:20:20,000
Speaker 1: often involved when money is changing hands amongst the loved ones,

457
00:20:20,040 --> 00:20:23,160
Speaker 1: and so in this article, Matt, they highlighted, or maybe

458
00:20:23,200 --> 00:20:25,840
Speaker 1: it was another article I read, but parents vetoing the

459
00:20:25,880 --> 00:20:28,439
Speaker 1: home that somebody wanted to buy because it's like, hey, listen,

460
00:20:28,480 --> 00:20:31,280
Speaker 1: if I'm gonna help profer the down payment money for

461
00:20:31,359 --> 00:20:33,840
Speaker 1: this purchase, I want to be able to say yes

462
00:20:33,840 --> 00:20:36,439
Speaker 1: to this one or no to that one, or maybe proximity.

463
00:20:36,480 --> 00:20:38,640
Speaker 2: It starts getting so missed, it really does. Yeh, yeh.

464
00:20:38,680 --> 00:20:40,760
Speaker 2: The problem. Yeah, you need to be incredibly if if

465
00:20:40,800 --> 00:20:42,720
Speaker 2: this is something you're considering, you need to be incredibly

466
00:20:42,760 --> 00:20:45,240
Speaker 2: cautious as to how it is that you approach some

467
00:20:45,280 --> 00:20:48,480
Speaker 2: of these conversations. But the author of this article uses

468
00:20:48,560 --> 00:20:51,800
Speaker 2: the but everyone else is doing it line, so they

469
00:20:51,920 --> 00:20:53,760
Speaker 2: which I've heard from my kids some of the stats

470
00:20:53,760 --> 00:20:56,359
Speaker 2: that they shared. One third of gen Zer's and a

471
00:20:56,480 --> 00:20:59,600
Speaker 2: quarter of millennials have received some financial help for the

472
00:20:59,640 --> 00:21:03,360
Speaker 2: first time purchase, which, again, if you are receiving that, hey,

473
00:21:03,400 --> 00:21:05,600
Speaker 2: no shame there. But there's just a big difference between

474
00:21:05,640 --> 00:21:08,600
Speaker 2: something that's being offered to you and something that is

475
00:21:08,600 --> 00:21:11,919
Speaker 2: being expected by you. So one thing worth mentioning here

476
00:21:11,960 --> 00:21:13,640
Speaker 2: is that some parents are willing to help you out

477
00:21:13,960 --> 00:21:17,080
Speaker 2: but for an equity stake, which it depends on how

478
00:21:17,080 --> 00:21:18,479
Speaker 2: it is. I guess you want an approach buying your home.

479
00:21:18,520 --> 00:21:21,080
Speaker 2: It kind of feels like a more like a business deal.

480
00:21:21,240 --> 00:21:23,200
Speaker 2: But I mean, I guess that could be a reasonable

481
00:21:23,240 --> 00:21:25,679
Speaker 2: approach where it would allow you to buy when you

482
00:21:25,880 --> 00:21:28,679
Speaker 2: otherwise wouldn't be able to. But hey, you're offering an

483
00:21:28,680 --> 00:21:31,919
Speaker 2: incentive to your folks at the same time. Regardless how

484
00:21:32,160 --> 00:21:35,320
Speaker 2: you arrive at this conclusion and how it is that

485
00:21:35,359 --> 00:21:37,679
Speaker 2: you go about, this transaction is going to have a

486
00:21:37,720 --> 00:21:41,120
Speaker 2: massive impact on not only your finances, but your relationship

487
00:21:41,160 --> 00:21:42,800
Speaker 2: to some of the most important people in your lives,

488
00:21:42,800 --> 00:21:46,000
Speaker 2: your parents, and so just be careful as you are

489
00:21:46,119 --> 00:21:49,760
Speaker 2: entering into these murky waters. It's interesting because I don't

490
00:21:49,800 --> 00:21:52,880
Speaker 2: see this as some sort of panacea to housing affordability,

491
00:21:52,880 --> 00:21:56,040
Speaker 2: because it is this benefit, Well, it benefits the lucky

492
00:21:56,080 --> 00:21:58,160
Speaker 2: folks that happen to have parents who are wealthy enough

493
00:21:58,160 --> 00:22:00,280
Speaker 2: to like give them a ton of money. Is it

494
00:22:00,359 --> 00:22:05,280
Speaker 2: actually positively impact affordability for everybody else? Nope, yep, And

495
00:22:05,280 --> 00:22:06,800
Speaker 2: in fact it does the opposite. What does it do

496
00:22:06,840 --> 00:22:08,560
Speaker 2: because all of a sudden, these high prices that are

497
00:22:08,560 --> 00:22:12,119
Speaker 2: being demanded are being met because if you have a population,

498
00:22:12,359 --> 00:22:13,919
Speaker 2: if you have a market that's willing to pay what

499
00:22:13,960 --> 00:22:16,080
Speaker 2: it is that others are offering, that's that's going to

500
00:22:16,080 --> 00:22:17,080
Speaker 2: continue to drive prices up.

501
00:22:17,119 --> 00:22:18,520
Speaker 1: And I don't know about you, this was never an

502
00:22:18,520 --> 00:22:20,359
Speaker 1: option for me tap in the bank of mom and

503
00:22:20,400 --> 00:22:21,720
Speaker 1: dad to try to get some down payment help.

504
00:22:21,760 --> 00:22:23,560
Speaker 2: It was, and I honestly think my parents would have

505
00:22:23,640 --> 00:22:24,000
Speaker 2: laughed at me.

506
00:22:24,080 --> 00:22:26,560
Speaker 1: And I realized it's a different environment right now buying

507
00:22:26,560 --> 00:22:29,200
Speaker 1: a house than even when we were buying our first homes.

508
00:22:29,520 --> 00:22:32,520
Speaker 1: But man, it was. I was so proud to be

509
00:22:32,600 --> 00:22:35,600
Speaker 1: able to save that money myself and buy that first

510
00:22:35,600 --> 00:22:39,679
Speaker 1: house and basically like make it my thing. And I

511
00:22:39,680 --> 00:22:42,240
Speaker 1: will say this too, there's just so many examples that

512
00:22:42,400 --> 00:22:47,320
Speaker 1: I've been very close to of family doing business with family,

513
00:22:47,680 --> 00:22:49,479
Speaker 1: helping somebody out with the loan or something like that,

514
00:22:49,560 --> 00:22:53,320
Speaker 1: and the sour grapes that come from a mishandling of

515
00:22:53,359 --> 00:22:56,639
Speaker 1: that often like oh, being laid on payments or whatever.

516
00:22:56,880 --> 00:22:59,040
Speaker 1: There's a lot of examples I could give that I

517
00:22:59,040 --> 00:23:01,959
Speaker 1: won't give publicly, but they can be Yeah, it's just

518
00:23:02,080 --> 00:23:07,000
Speaker 1: your side or her side, let's not tell you. But

519
00:23:07,240 --> 00:23:08,639
Speaker 1: these are the those are the kind of things that

520
00:23:08,720 --> 00:23:11,359
Speaker 1: really can lead to her relationships. And it seems like

521
00:23:11,400 --> 00:23:13,000
Speaker 1: a smart thing at the time. It's like, oh, you know,

522
00:23:13,080 --> 00:23:15,240
Speaker 1: well it'll scratch both of her backs to a certain extent,

523
00:23:15,600 --> 00:23:17,840
Speaker 1: and then you just kind of never know where things

524
00:23:17,880 --> 00:23:20,400
Speaker 1: are going to go when you're joining finances.

525
00:23:19,960 --> 00:23:21,720
Speaker 2: Like things can go south quickly, okay, Matt.

526
00:23:21,760 --> 00:23:24,200
Speaker 1: Another article that was also vying I think for the

527
00:23:24,280 --> 00:23:26,000
Speaker 1: ludicrous headline of the week this week came from the

528
00:23:26,000 --> 00:23:29,080
Speaker 1: Wall Street Journal and the title read rental creams for

529
00:23:29,119 --> 00:23:32,560
Speaker 1: preteens sound safety alarm and I don't know about you,

530
00:23:32,640 --> 00:23:33,240
Speaker 1: because they cost.

531
00:23:33,160 --> 00:23:33,760
Speaker 2: Too much money.

532
00:23:33,920 --> 00:23:36,480
Speaker 1: Well that's part of it. Can be expensive, but you

533
00:23:36,560 --> 00:23:39,000
Speaker 1: can like mess their faces up, right, Like because these

534
00:23:39,080 --> 00:23:41,359
Speaker 1: these more of a social issue, Yeah, but there there

535
00:23:41,359 --> 00:23:44,359
Speaker 1: are financial ramifications attached, right. I think that I've noticed

536
00:23:44,400 --> 00:23:46,480
Speaker 1: it with my eleven year old daughter. She's not really

537
00:23:46,480 --> 00:23:49,000
Speaker 1: into this, but some of her friends are super into

538
00:23:49,040 --> 00:23:51,680
Speaker 1: skincare right now, and it's kind of sad to see

539
00:23:51,720 --> 00:23:53,560
Speaker 1: like they're spending money on this. That's what they're asking

540
00:23:53,600 --> 00:23:56,840
Speaker 1: for for their birthdays or something like that, is creams

541
00:23:56,880 --> 00:23:57,240
Speaker 1: and stuff.

542
00:23:57,280 --> 00:24:00,960
Speaker 2: So she's like, sunscreen, yeah, not sun screen, like like, yeah,

543
00:24:01,160 --> 00:24:03,399
Speaker 2: I don't think they're doing like wrinkle cream, botox or

544
00:24:03,440 --> 00:24:04,159
Speaker 2: anything like that.

545
00:24:04,080 --> 00:24:08,440
Speaker 1: That well that'd be malpractice too. Yeah, but she kind

546
00:24:08,440 --> 00:24:11,679
Speaker 1: of thinks it's silly, which I appreciate. But yeah, this

547
00:24:11,680 --> 00:24:13,760
Speaker 1: this story I thought was sad for multiple angles. I

548
00:24:13,760 --> 00:24:16,159
Speaker 1: think the fact that young people think they need to

549
00:24:16,240 --> 00:24:19,359
Speaker 1: use these anti aging products at such an early age

550
00:24:19,680 --> 00:24:22,720
Speaker 1: it reflects poorly on us as a society. And social media,

551
00:24:22,760 --> 00:24:25,240
Speaker 1: of course is part of the problem. But then a

552
00:24:25,240 --> 00:24:27,600
Speaker 1: lot of these products are made specifically for adults, not

553
00:24:27,600 --> 00:24:30,359
Speaker 1: for children, and so young girls are in particular, are

554
00:24:30,359 --> 00:24:34,280
Speaker 1: putting these these creams on their faces and it's not

555
00:24:34,359 --> 00:24:37,800
Speaker 1: formulated for their faces, and so maybe they're having actually

556
00:24:37,800 --> 00:24:41,040
Speaker 1: worse skin issues. Well they think they're actually doing something

557
00:24:41,080 --> 00:24:44,120
Speaker 1: to help themselves. So and at the very least it's

558
00:24:44,160 --> 00:24:45,040
Speaker 1: a financial waste.

559
00:24:45,080 --> 00:24:47,520
Speaker 2: So yeah, it is a finish waste of money at

560
00:24:47,520 --> 00:24:48,840
Speaker 2: the end of the day, dude, I was having a

561
00:24:48,840 --> 00:24:50,040
Speaker 2: conversation with their friends.

562
00:24:50,040 --> 00:24:52,639
Speaker 1: And not for that. Adults can't use certain skin creams

563
00:24:52,720 --> 00:24:54,920
Speaker 1: or whatever to I'm fine with that, but just I

564
00:24:54,960 --> 00:24:56,639
Speaker 1: hate it for the young kids feeling like they have to.

565
00:24:56,680 --> 00:24:58,880
Speaker 2: Well, that's the problem. And you mentioned social media partly

566
00:24:58,920 --> 00:24:59,200
Speaker 2: to blame.

567
00:24:59,280 --> 00:24:59,960
Speaker 1: I think it, dude.

568
00:25:00,040 --> 00:25:02,879
Speaker 2: I mean, maybe this is another opportunity to plug the

569
00:25:02,920 --> 00:25:06,280
Speaker 2: anxious generation. Jonathan Height read it, folks, if you've got

570
00:25:06,359 --> 00:25:09,040
Speaker 2: a preteen, a kid, anybody that's got a kid. It's

571
00:25:09,040 --> 00:25:11,640
Speaker 2: an incredibly eye opening book. But it's not just social

572
00:25:11,680 --> 00:25:13,639
Speaker 2: media though, it's also parents. Like I was talking to

573
00:25:13,680 --> 00:25:16,040
Speaker 2: a buddy and we're talking about how it just seems

574
00:25:16,080 --> 00:25:18,160
Speaker 2: like parents the days are just kind of like rushing

575
00:25:18,160 --> 00:25:20,439
Speaker 2: their kids into adulthood as opposed to just letting them

576
00:25:20,480 --> 00:25:23,000
Speaker 2: be kids. They're getting hit from both sides of it, right, Like,

577
00:25:23,080 --> 00:25:25,480
Speaker 2: not only is it it seems like sometimes it's happening

578
00:25:25,560 --> 00:25:27,479
Speaker 2: at home, but also when they're not at home, when

579
00:25:27,480 --> 00:25:28,359
Speaker 2: they're on social media.

580
00:25:28,400 --> 00:25:30,520
Speaker 1: I know, I let my eleven year old still into

581
00:25:30,840 --> 00:25:34,200
Speaker 1: like baby dolls and Woods's or whatever and stuff like that,

582
00:25:34,240 --> 00:25:36,800
Speaker 1: and it just makes it wazy. It's like a little

583
00:25:37,119 --> 00:25:39,639
Speaker 1: woodland creature at all. Yeah, they love that stuff so

584
00:25:40,200 --> 00:25:42,480
Speaker 1: and I just I love watching them. They'll play for

585
00:25:42,600 --> 00:25:47,160
Speaker 1: hours still, and that's just such a superior way to

586
00:25:47,200 --> 00:25:49,320
Speaker 1: be as an eleven year old than trying to keep

587
00:25:49,359 --> 00:25:51,439
Speaker 1: up with all the latest face stream trends.

588
00:25:52,240 --> 00:25:56,239
Speaker 2: That's that unsupervised, undirected play that Jonathan height Wes's right

589
00:25:56,280 --> 00:25:59,440
Speaker 2: would recommend. Well, hey, let's talk about cell phones because

590
00:25:59,480 --> 00:26:01,840
Speaker 2: the FC I see as proposing some new rules out

591
00:26:01,840 --> 00:26:05,760
Speaker 2: there for unlocking cell phones. We've already seen the decline

592
00:26:05,800 --> 00:26:10,280
Speaker 2: of business friendly contracts or network friendly contracts that keep

593
00:26:10,320 --> 00:26:13,600
Speaker 2: customers and consumers stuck with a particular carrier.

594
00:26:13,680 --> 00:26:15,600
Speaker 1: Gen z ers probably don't even know about those, like

595
00:26:15,760 --> 00:26:16,880
Speaker 1: multi year contract days.

596
00:26:16,920 --> 00:26:20,639
Speaker 2: Yeah, well, it's the combination of mbnos so mobile virtual

597
00:26:20,680 --> 00:26:23,879
Speaker 2: network operators that combined with eSIMs have just made it

598
00:26:23,960 --> 00:26:27,280
Speaker 2: easier than ever to switch to a lower cost carrier

599
00:26:27,320 --> 00:26:29,199
Speaker 2: in minutes. And this is something that you and I

600
00:26:29,240 --> 00:26:32,119
Speaker 2: we've literally have been experimenting with. We'll probably talk more

601
00:26:32,119 --> 00:26:35,920
Speaker 2: about it in the future. But some sell service companies

602
00:26:35,960 --> 00:26:38,560
Speaker 2: who want to sell you a discounted phone, well they

603
00:26:38,560 --> 00:26:41,880
Speaker 2: want to keep you tethered to them. Like well beyond

604
00:26:42,080 --> 00:26:44,959
Speaker 2: the end of that actual transaction, keeping your phone locked

605
00:26:45,000 --> 00:26:47,520
Speaker 2: for an extended period of time, which just means you

606
00:26:47,560 --> 00:26:49,359
Speaker 2: can't take it to another provider if you wanted to.

607
00:26:49,840 --> 00:26:52,760
Speaker 2: And if the FCC gets its way, what that means

608
00:26:52,840 --> 00:26:55,000
Speaker 2: is that providers they won't be able to keep devices

609
00:26:55,080 --> 00:26:58,160
Speaker 2: locked for more than sixty days. You get two months

610
00:26:58,200 --> 00:26:59,240
Speaker 2: before you can switch over.

611
00:26:59,320 --> 00:27:01,080
Speaker 1: Basically if you have no handcuffs. That means you can

612
00:27:01,160 --> 00:27:04,520
Speaker 1: jump ship basically whenever you want. But that'll also mean

613
00:27:04,760 --> 00:27:07,600
Speaker 1: fewer deals on handset, so it's important to mention that too.

614
00:27:07,680 --> 00:27:10,879
Speaker 1: But we've always suggested for many many years on the show,

615
00:27:11,200 --> 00:27:13,520
Speaker 1: pay full price for your phone. I mean, yeah, wait

616
00:27:13,560 --> 00:27:15,000
Speaker 1: for a sale if you want or something like that,

617
00:27:15,080 --> 00:27:18,159
Speaker 1: But like find the cheapest service you can. People always

618
00:27:18,160 --> 00:27:19,640
Speaker 1: they want to they want to get a good deal

619
00:27:19,680 --> 00:27:22,320
Speaker 1: on the latest model iPhone or something like that, Matt,

620
00:27:22,600 --> 00:27:25,080
Speaker 1: But the best thing to do buy a cheaper model

621
00:27:25,080 --> 00:27:29,159
Speaker 1: that you can afford, and prioritize cheaper ongoing service. And

622
00:27:29,200 --> 00:27:32,400
Speaker 1: so even some of the discounters offer phones for less

623
00:27:32,440 --> 00:27:34,720
Speaker 1: than full price via this method. I think we're actually

624
00:27:34,960 --> 00:27:37,159
Speaker 1: likely to see a lot less of that if this

625
00:27:37,240 --> 00:27:40,280
Speaker 1: rule is finalized. So, like I think even right now,

626
00:27:40,320 --> 00:27:42,760
Speaker 1: Mint Mobile has you can get the newest pixel phone

627
00:27:42,800 --> 00:27:44,399
Speaker 1: for a few hundred bucks off or something like that.

628
00:27:44,440 --> 00:27:45,640
Speaker 2: So nine is that the new one?

629
00:27:45,640 --> 00:27:46,000
Speaker 1: I think so.

630
00:27:46,080 --> 00:27:48,200
Speaker 2: Yeah, it's supposed to have an awesome camera.

631
00:27:47,920 --> 00:27:50,320
Speaker 1: What's got all the AI? Yeah, I could care less

632
00:27:50,320 --> 00:27:53,240
Speaker 1: about it, but yeah, you might have to look at

633
00:27:53,240 --> 00:27:54,919
Speaker 1: the fine print. You might have to keep that phone

634
00:27:54,960 --> 00:27:57,720
Speaker 1: on that network for a specified period of time. But

635
00:27:57,800 --> 00:27:59,600
Speaker 1: either way, you know, we are in the golden age

636
00:27:59,680 --> 00:28:03,359
Speaker 1: of service competition and cheap cell phone service. I feel

637
00:28:03,359 --> 00:28:06,040
Speaker 1: like Matt every time I look, I'm seeing cheaper and

638
00:28:06,080 --> 00:28:09,600
Speaker 1: cheaper prices for unlimited, unlimited everything down to you know,

639
00:28:09,720 --> 00:28:12,680
Speaker 1: fifteen to eighteen bucks a month now, which is insane,

640
00:28:12,720 --> 00:28:14,800
Speaker 1: Like think about what it used to cost five, six, seven,

641
00:28:14,840 --> 00:28:17,680
Speaker 1: eight years ago, and prices are just so much more

642
00:28:17,680 --> 00:28:18,760
Speaker 1: consumer friendly these days.

643
00:28:18,840 --> 00:28:21,960
Speaker 2: That's true. So in the hunt for an affordable phone,

644
00:28:22,480 --> 00:28:26,919
Speaker 2: and we've shared Kate's issues that she had with her iPhone,

645
00:28:27,200 --> 00:28:29,040
Speaker 2: but when we took the phone in and they were

646
00:28:29,040 --> 00:28:33,119
Speaker 2: looking at it, they noticed that the simcard tray, like

647
00:28:33,119 --> 00:28:36,480
Speaker 2: the little slat that pops out, that it was after market,

648
00:28:36,760 --> 00:28:40,400
Speaker 2: which is so fascinating because we purchased that phone on

649
00:28:40,520 --> 00:28:43,880
Speaker 2: eBay quote unquote new in box, like it was wrapped

650
00:28:43,880 --> 00:28:47,120
Speaker 2: in plastic. Interesting, guess what, There's no way it was

651
00:28:47,160 --> 00:28:49,520
Speaker 2: because it would not have come from Apple with an

652
00:28:49,560 --> 00:28:51,760
Speaker 2: aftermarket tray. And so we think that that has a

653
00:28:51,800 --> 00:28:54,000
Speaker 2: lot to do with why it took on water to

654
00:28:54,080 --> 00:28:56,640
Speaker 2: begin with, because of the fact that it was maybe

655
00:28:56,680 --> 00:28:59,040
Speaker 2: it had been repaired or something like that afterwards. So

656
00:28:59,080 --> 00:29:02,120
Speaker 2: all that being said, I won't be buying any new

657
00:29:02,160 --> 00:29:05,920
Speaker 2: iPhones in the future from eBay literally only from Apple referbed,

658
00:29:06,320 --> 00:29:09,400
Speaker 2: refurbished because of what we learned, I guess the hard way.

659
00:29:09,480 --> 00:29:10,640
Speaker 2: So keep that in mind. Phos.

660
00:29:10,880 --> 00:29:12,440
Speaker 1: Yeah, where you get that phone matters, and there are

661
00:29:12,480 --> 00:29:14,720
Speaker 1: certain places where they're referbed and they're gonna be there's

662
00:29:14,720 --> 00:29:16,560
Speaker 1: they're held to a different standard if you're buying from

663
00:29:16,880 --> 00:29:18,280
Speaker 1: the manufacturer of the phone, Apple.

664
00:29:18,440 --> 00:29:20,280
Speaker 2: But it was new that again, it was the whole

665
00:29:20,320 --> 00:29:22,520
Speaker 2: new in box aspect of it. It was like sealed in plastic,

666
00:29:22,720 --> 00:29:25,160
Speaker 2: and so the assumption was that, oh, this is this

667
00:29:25,280 --> 00:29:27,000
Speaker 2: is just an old phone that they had, Maybe it

668
00:29:27,040 --> 00:29:28,800
Speaker 2: was laying around in a warehouse or something like that,

669
00:29:28,800 --> 00:29:31,320
Speaker 2: and we're a couple models moved on, so I thought

670
00:29:31,320 --> 00:29:34,160
Speaker 2: nothing of it. I didn't think twice about the fact that, well,

671
00:29:34,160 --> 00:29:37,040
Speaker 2: this is being sold by some third party seller. I

672
00:29:37,080 --> 00:29:39,320
Speaker 2: guess they got the shrink wrap machines and they're making

673
00:29:39,360 --> 00:29:41,760
Speaker 2: those things like brand new. In reality, these are phones

674
00:29:41,800 --> 00:29:43,560
Speaker 2: that had been repaired and we're not held to the

675
00:29:43,600 --> 00:29:45,120
Speaker 2: same standard, which totally sucks.

676
00:29:45,120 --> 00:29:47,240
Speaker 1: Shrink wrapping isn't that heart of a process.

677
00:29:46,960 --> 00:29:48,720
Speaker 2: I guess, But like it's just one of those small

678
00:29:48,760 --> 00:29:50,680
Speaker 2: things that you see as like a sign of oh,

679
00:29:50,680 --> 00:29:53,520
Speaker 2: this must be legit. Yeah, it's never been opened. It

680
00:29:53,600 --> 00:29:56,840
Speaker 2: had been a quick college story here for folks. NPR

681
00:29:56,920 --> 00:30:00,320
Speaker 2: they just had an interesting article about the potential downside

682
00:30:00,640 --> 00:30:04,000
Speaker 2: of community college. The main one is that most folks

683
00:30:04,000 --> 00:30:06,440
Speaker 2: who opt to take that route, they don't end up

684
00:30:06,440 --> 00:30:08,680
Speaker 2: getting a degree. A big part of that problem is

685
00:30:08,680 --> 00:30:11,680
Speaker 2: that most of the students who enrolled at a local

686
00:30:11,680 --> 00:30:14,920
Speaker 2: community college, they find that some of the credits that

687
00:30:14,920 --> 00:30:17,240
Speaker 2: they've worked really hard for that they don't end up

688
00:30:17,240 --> 00:30:20,960
Speaker 2: getting transferred to the next school, which just prolongs their

689
00:30:21,000 --> 00:30:23,200
Speaker 2: ability to graduate. And so one of the results of

690
00:30:23,240 --> 00:30:26,280
Speaker 2: that is only thirteen percent of community college students will

691
00:30:26,280 --> 00:30:29,160
Speaker 2: get a four year degree within an eight year timeline,

692
00:30:29,720 --> 00:30:32,880
Speaker 2: which is paltry numbers. Let's to be honest, you know,

693
00:30:32,920 --> 00:30:35,200
Speaker 2: like that's the worst time. I suspect it's pretty low.

694
00:30:35,600 --> 00:30:38,400
Speaker 2: So we like the idea of community colleges reducing the

695
00:30:38,480 --> 00:30:41,360
Speaker 2: overall cost of getting a college degree, but you know,

696
00:30:41,400 --> 00:30:43,400
Speaker 2: the stats show that that might not be the case.

697
00:30:43,400 --> 00:30:46,360
Speaker 2: And if you're planning on going back to school at

698
00:30:46,360 --> 00:30:48,600
Speaker 2: a community college, I think it's just really important to

699
00:30:48,720 --> 00:30:51,440
Speaker 2: know what the credit transfer rules are.

700
00:30:51,760 --> 00:30:53,640
Speaker 1: That's like the most disheartening thing. Think about going through

701
00:30:53,640 --> 00:30:55,680
Speaker 1: all those classes, paying the money, taking the time, and

702
00:30:55,680 --> 00:30:57,520
Speaker 1: then saying, oh, now I'm ready to move on to

703
00:30:57,720 --> 00:31:00,920
Speaker 1: a state school. And if many many of those classes

704
00:31:00,920 --> 00:31:03,320
Speaker 1: don't transfer to the state school, you just wasted a

705
00:31:03,320 --> 00:31:05,400
Speaker 1: lot of that time and money. How infuriating is that?

706
00:31:05,560 --> 00:31:08,000
Speaker 1: No wonder people are left in the lurch not actually

707
00:31:08,040 --> 00:31:09,160
Speaker 1: getting these degrees at the end.

708
00:31:09,080 --> 00:31:11,680
Speaker 2: Of the day. Simultaneously, like I don't want folks to

709
00:31:11,720 --> 00:31:14,600
Speaker 2: take the wrong lesson from this as well, because like

710
00:31:15,320 --> 00:31:17,360
Speaker 2: if this is like a community college hit piece, then

711
00:31:17,400 --> 00:31:19,200
Speaker 2: I don't like it because think of like what is

712
00:31:19,200 --> 00:31:22,600
Speaker 2: a community college. It's a more affordable way, it's local,

713
00:31:22,680 --> 00:31:24,360
Speaker 2: so it's not like you have to even leave town,

714
00:31:24,600 --> 00:31:27,320
Speaker 2: like wherever you're living. The barriers to entry to get

715
00:31:27,320 --> 00:31:29,880
Speaker 2: into a community college are much lower than a state

716
00:31:30,040 --> 00:31:31,800
Speaker 2: school or like an ivy, right, and so what that

717
00:31:32,440 --> 00:31:34,440
Speaker 2: just means that there are gonna be fewer folks who

718
00:31:34,520 --> 00:31:38,120
Speaker 2: actually graduate from that school at all. But that being said,

719
00:31:38,480 --> 00:31:40,160
Speaker 2: you still want to make sure, especially if you've got

720
00:31:40,400 --> 00:31:43,520
Speaker 2: bigger aspirations, if you are ambitious and you plan on

721
00:31:43,560 --> 00:31:46,360
Speaker 2: going to transferring those credits to another school. You just

722
00:31:46,400 --> 00:31:48,040
Speaker 2: want to make sure that you're going about it the

723
00:31:48,080 --> 00:31:48,520
Speaker 2: right way.

724
00:31:48,400 --> 00:31:51,040
Speaker 1: That's all. And if you watch the show Community, you're

725
00:31:51,040 --> 00:31:53,120
Speaker 1: gonna find some really cool friends there too, because and

726
00:31:53,160 --> 00:31:54,640
Speaker 1: you're gonna have a lot of antics that are gonna

727
00:31:54,640 --> 00:31:56,880
Speaker 1: be I don't know, made for TV moments, I'm guessing.

728
00:31:57,200 --> 00:31:59,720
Speaker 1: But that just also proves the point too, met that

729
00:31:59,720 --> 00:32:02,600
Speaker 1: people who go to college but don't get a degree,

730
00:32:02,840 --> 00:32:05,480
Speaker 1: they find themselves in a really tough position because they're

731
00:32:05,480 --> 00:32:08,880
Speaker 1: out the money they paid for all those classes, and

732
00:32:08,920 --> 00:32:11,280
Speaker 1: then they also don't have the degree that allows them

733
00:32:11,320 --> 00:32:14,040
Speaker 1: to accelerate, pay or endeavor in a new career. And

734
00:32:14,120 --> 00:32:15,720
Speaker 1: so yeah, just make sure if you're going to go

735
00:32:15,760 --> 00:32:20,320
Speaker 1: to school, finish the drill, even if it's a degree

736
00:32:20,360 --> 00:32:22,760
Speaker 1: from what you consider to be an inferior college. That

737
00:32:22,800 --> 00:32:25,160
Speaker 1: degree matters a whole lot in your ability to make

738
00:32:25,200 --> 00:32:28,280
Speaker 1: progress with your finances and to increase your income. And

739
00:32:28,440 --> 00:32:31,680
Speaker 1: interestingly enough, colleges that are attracting the most interest right

740
00:32:31,720 --> 00:32:34,880
Speaker 1: now are the ones that allow students to essentially graduate

741
00:32:34,960 --> 00:32:37,360
Speaker 1: with a job in hand. Because as the value of

742
00:32:37,400 --> 00:32:41,160
Speaker 1: a college degree continues to be more widely questioned, understandably

743
00:32:41,240 --> 00:32:44,880
Speaker 1: so amongst Americans, the schools that have like co op

744
00:32:44,880 --> 00:32:49,440
Speaker 1: progress programs, really solid internship programs, they're drawing more attention.

745
00:32:50,040 --> 00:32:52,880
Speaker 1: Northeastern matt is one of the schools that constantly gets

746
00:32:52,920 --> 00:32:54,960
Speaker 1: held up as one of the having one of the

747
00:32:55,080 --> 00:32:58,040
Speaker 1: best co op programs where essentially almost everyone that graduates

748
00:32:58,400 --> 00:33:01,160
Speaker 1: gets a high paying job in the career of their choice.

749
00:33:01,600 --> 00:33:04,320
Speaker 1: Because and now it's becoming as competitive to get into

750
00:33:04,360 --> 00:33:05,840
Speaker 1: that school as it is to get into one of

751
00:33:05,880 --> 00:33:09,280
Speaker 1: the Ivy League institutions. Because hey, guess what, what's more

752
00:33:09,280 --> 00:33:12,600
Speaker 1: important than having Harvard on a piece of paper, It's

753
00:33:12,640 --> 00:33:15,880
Speaker 1: having the job that's waiting there for you when you graduate.

754
00:33:15,920 --> 00:33:19,200
Speaker 1: And so a diploma used to be enough for a

755
00:33:19,200 --> 00:33:22,880
Speaker 1: lot of years, it's not necessarily in our culture these days.

756
00:33:23,040 --> 00:33:25,440
Speaker 1: We're living in a different world now, and so opting

757
00:33:25,480 --> 00:33:28,840
Speaker 1: for a college that prioritizes seeing its students get into

758
00:33:28,880 --> 00:33:32,920
Speaker 1: the career they studied for for years is smart in

759
00:33:32,960 --> 00:33:35,240
Speaker 1: our book. And so yeah, check out. We'll link to

760
00:33:35,280 --> 00:33:38,160
Speaker 1: this in the show notes. But the college scorecard, it's

761
00:33:38,200 --> 00:33:40,800
Speaker 1: a Department of Education website and you can see you

762
00:33:40,800 --> 00:33:43,560
Speaker 1: can look up specific schools and how are they doing

763
00:33:43,600 --> 00:33:46,680
Speaker 1: on this front? Are they actually graduating people who end

764
00:33:46,760 --> 00:33:50,120
Speaker 1: up making getting lucrative jobs in the career that they chose,

765
00:33:50,360 --> 00:33:52,480
Speaker 1: or are they not? And I think that's a legitimate

766
00:33:52,520 --> 00:33:56,680
Speaker 1: standard to hold your institution to. If they're graduating people

767
00:33:56,720 --> 00:33:59,240
Speaker 1: with degrees that aren't paying off in the real world,

768
00:33:59,400 --> 00:34:01,120
Speaker 1: you might want to quite should have value that degree.

769
00:34:01,320 --> 00:34:03,200
Speaker 2: And to go back to bat a little bit. For

770
00:34:03,240 --> 00:34:05,640
Speaker 2: community colleges, I actually I didn't know this until I

771
00:34:05,680 --> 00:34:08,520
Speaker 2: was exploring around and clicking some on the college scorecard.

772
00:34:08,560 --> 00:34:11,160
Speaker 2: But the guess, do you know what the median graduation

773
00:34:11,280 --> 00:34:14,400
Speaker 2: rate is for four year colleges? So community colleges was

774
00:34:14,440 --> 00:34:16,919
Speaker 2: thirteen percent. So what do you think the typical four

775
00:34:17,000 --> 00:34:20,360
Speaker 2: year graduation rate is. I'm gonna say twenty eight percent.

776
00:34:20,560 --> 00:34:23,000
Speaker 2: Oh yeah, I feel like you're such an optimist, like

777
00:34:23,160 --> 00:34:25,320
Speaker 2: in this case, like I would have. I feel like

778
00:34:25,320 --> 00:34:27,279
Speaker 2: I would have guessed like ninety percent or something like that,

779
00:34:27,280 --> 00:34:28,719
Speaker 2: where folks are like, oh, yeah, you go to college

780
00:34:28,760 --> 00:34:31,960
Speaker 2: and you graduate. It's somewhere in between us. I guess

781
00:34:31,800 --> 00:34:33,920
Speaker 2: it's less than sixty percent. I think it was fifty

782
00:34:33,960 --> 00:34:36,879
Speaker 2: eight percent, which kind of puts into perspective. Yeah, that's

783
00:34:36,880 --> 00:34:39,040
Speaker 2: a lot more than community college. But at least the

784
00:34:39,120 --> 00:34:40,480
Speaker 2: way I was thinking about it, it was a whole

785
00:34:40,480 --> 00:34:42,560
Speaker 2: lot less than I would have expected for kids that

786
00:34:42,600 --> 00:34:45,040
Speaker 2: are going off to school. But uh, okay, last, but

787
00:34:45,120 --> 00:34:47,880
Speaker 2: not least, we got some Aldie news for folks. Aldi.

788
00:34:48,200 --> 00:34:51,800
Speaker 2: They are currently in transition mode after buying up when Nixy.

789
00:34:51,920 --> 00:34:53,680
Speaker 2: This is a sale that went through I think is

790
00:34:53,760 --> 00:34:56,760
Speaker 2: the end of last year, or it was maybe approved

791
00:34:56,880 --> 00:34:58,560
Speaker 2: at the end of last year, and it was finalized

792
00:34:58,600 --> 00:35:02,480
Speaker 2: this past spring. Aldi has already opened forty new stores

793
00:35:02,520 --> 00:35:06,400
Speaker 2: and they plan to open eight hundred more, and all

794
00:35:06,480 --> 00:35:09,400
Speaker 2: these spokespersons said that growth has doubled in just the

795
00:35:09,440 --> 00:35:12,240
Speaker 2: past six years, and now more than twenty five percent

796
00:35:12,239 --> 00:35:15,520
Speaker 2: of Americans shop at an Aldi, which is just music

797
00:35:15,520 --> 00:35:17,560
Speaker 2: to my ears. I'm just so happy that there are

798
00:35:17,560 --> 00:35:20,520
Speaker 2: more folks out there who are learning about the glories

799
00:35:20,640 --> 00:35:24,040
Speaker 2: of low cost shopping, grocery shopping at ALDI and what

800
00:35:24,080 --> 00:35:26,720
Speaker 2: this means is competition in the grocery space. It continues

801
00:35:26,760 --> 00:35:27,280
Speaker 2: to be fierce.

802
00:35:27,920 --> 00:35:28,520
Speaker 1: Their growth.

803
00:35:28,719 --> 00:35:31,400
Speaker 2: All these growth is great for consumers. It adds another

804
00:35:31,480 --> 00:35:33,600
Speaker 2: low cost option out there. It keeps other grocery store

805
00:35:33,840 --> 00:35:36,920
Speaker 2: chains on their toes. And this is just speculation as well,

806
00:35:36,960 --> 00:35:40,120
Speaker 2: but I think it has the potential for folks to

807
00:35:40,200 --> 00:35:43,680
Speaker 2: realize higher quality products as well. Like we're talking about

808
00:35:44,840 --> 00:35:47,520
Speaker 2: costco and how they're able to negotiate because of just

809
00:35:47,880 --> 00:35:51,400
Speaker 2: how much I mean, not only do costco buyers buy

810
00:35:51,400 --> 00:35:53,480
Speaker 2: in bulk, but costco buyers in bulk. Well, I guess

811
00:35:53,520 --> 00:35:55,680
Speaker 2: that's what corporate buyers do. They go and they say, hey,

812
00:35:55,680 --> 00:35:57,480
Speaker 2: we're gonna you know, we're looking at buying this much

813
00:35:57,760 --> 00:36:00,000
Speaker 2: from you. But when you are opening that many more stores,

814
00:36:00,360 --> 00:36:01,960
Speaker 2: you're able to move more product, and I think you

815
00:36:01,960 --> 00:36:04,440
Speaker 2: have the ability to negotiate better deals. And I just

816
00:36:04,520 --> 00:36:07,759
Speaker 2: I think maybe better deals, but higher quality products. And

817
00:36:07,800 --> 00:36:10,160
Speaker 2: this is the speculation part. Over the past few months,

818
00:36:10,200 --> 00:36:14,440
Speaker 2: we've always gotten all these big old fresh salmon filet

819
00:36:14,600 --> 00:36:17,480
Speaker 2: or whatever I swear and over the like, over the summer,

820
00:36:17,719 --> 00:36:20,040
Speaker 2: it has been better than ever it's like so fresh,

821
00:36:20,200 --> 00:36:23,200
Speaker 2: and sometimes with fish it's a little fishy kind of smelling,

822
00:36:23,600 --> 00:36:26,200
Speaker 2: which is not duh, of course it is good smells,

823
00:36:26,320 --> 00:36:28,080
Speaker 2: but you know what I'm talking about, Like old fish

824
00:36:28,239 --> 00:36:31,080
Speaker 2: smells different than fresh fish, Like fresh fish almost doesn't

825
00:36:31,080 --> 00:36:33,879
Speaker 2: smell like fish. And that's what i've as of late,

826
00:36:34,320 --> 00:36:36,719
Speaker 2: the as we've been getting those these salmons. Before I

827
00:36:36,880 --> 00:36:38,960
Speaker 2: grill up there, you always got to check it for

828
00:36:39,000 --> 00:36:41,200
Speaker 2: the pin bones, make sure, you know, make sure there's

829
00:36:41,200 --> 00:36:43,799
Speaker 2: nothing in there. It smells so good, and I'm only

830
00:36:43,880 --> 00:36:45,640
Speaker 2: encouraged by the fact that maybe they're able to negotiate

831
00:36:45,640 --> 00:36:46,839
Speaker 2: some better product. That's well.

832
00:36:46,840 --> 00:36:51,120
Speaker 1: I think you see, when Kroger launched an organic private label,

833
00:36:51,480 --> 00:36:53,239
Speaker 1: we started to see the price of organics come down

834
00:36:53,239 --> 00:36:55,520
Speaker 1: across the board. Last time I was at Costco, I

835
00:36:55,560 --> 00:36:57,640
Speaker 1: noticed that the organic olive oil was cheaper than the

836
00:36:57,719 --> 00:37:01,240
Speaker 1: non organic, and I think we're seeing organics become cheaper,

837
00:37:01,320 --> 00:37:03,920
Speaker 1: more readily accessible. Aldie is playing a big part in

838
00:37:03,960 --> 00:37:06,239
Speaker 1: that too, So I love seeing that. I think you're right.

839
00:37:06,280 --> 00:37:08,440
Speaker 1: I think you're getting higher quality, you're getting lower prices,

840
00:37:08,880 --> 00:37:12,439
Speaker 1: and all these expansion is only a good thing, even

841
00:37:12,480 --> 00:37:13,480
Speaker 1: if you don't shop at Aldie.

842
00:37:13,520 --> 00:37:14,080
Speaker 2: That's right.

843
00:37:14,160 --> 00:37:15,880
Speaker 1: All right, that's going to do it for this episode.

844
00:37:15,960 --> 00:37:18,960
Speaker 1: We will link to some of the resources we mentioned

845
00:37:19,160 --> 00:37:21,640
Speaker 1: off on the show notes on our website at howtomoney

846
00:37:21,680 --> 00:37:22,080
Speaker 1: dot com.

847
00:37:22,080 --> 00:37:23,680
Speaker 2: That's right. We hope you have a great weekend. We'll

848
00:37:23,680 --> 00:37:25,879
Speaker 2: see you back here on Monday. And until next time,

849
00:37:26,040 --> 00:37:28,160
Speaker 2: best friends Out, Best Friends Out,