1 00:00:00,120 --> 00:00:02,800 Speaker 1: Welcome to How the Money. I'm Joel and I am 2 00:00:02,800 --> 00:00:05,560 Speaker 1: at Today we're discussing the high cost of free shipping, 3 00:00:05,840 --> 00:00:29,120 Speaker 1: gas price pushback, and the student loan freeze continues. That's right. 4 00:00:29,280 --> 00:00:32,319 Speaker 1: It's our Friday flight where every single Friday we look 5 00:00:32,320 --> 00:00:34,160 Speaker 1: at some of the different headlines that we've come across 6 00:00:34,159 --> 00:00:36,959 Speaker 1: and we're gonna talk about how those stories are going 7 00:00:37,040 --> 00:00:41,120 Speaker 1: to impact your finances. But Joel, we've been talking a 8 00:00:41,120 --> 00:00:43,360 Speaker 1: decent bit about working out here lately, kind of behind 9 00:00:43,360 --> 00:00:44,960 Speaker 1: the scenes here and How the Money. We've been talking 10 00:00:45,000 --> 00:00:47,440 Speaker 1: about how we should probably be doing a better job 11 00:00:47,520 --> 00:00:49,760 Speaker 1: working out. Well. I started with one of my friends 12 00:00:49,760 --> 00:00:51,320 Speaker 1: the other day, was like, bring your friend to work 13 00:00:51,320 --> 00:00:54,560 Speaker 1: week or Jim weekend, and so I was like, you 14 00:00:54,560 --> 00:00:57,040 Speaker 1: could also show up with him to the workshop. I could, 15 00:00:57,280 --> 00:00:58,840 Speaker 1: but so he was like, Hey, do you want to 16 00:00:58,880 --> 00:01:00,360 Speaker 1: come work out with me? And I was like, uh, 17 00:01:00,480 --> 00:01:02,360 Speaker 1: it's it's been a minute. I ride my bike and 18 00:01:02,680 --> 00:01:04,680 Speaker 1: you know, do some push ups here and there. But actually, 19 00:01:04,720 --> 00:01:07,480 Speaker 1: like working out, lifting, lifting weight, pumping the iron is 20 00:01:07,480 --> 00:01:10,000 Speaker 1: something that I rarely do. It was it was a 21 00:01:10,080 --> 00:01:12,000 Speaker 1: lot of fun. I had a good time. It's one 22 00:01:12,040 --> 00:01:13,959 Speaker 1: of those things though, where at his gym. It's it's 23 00:01:13,959 --> 00:01:16,400 Speaker 1: like two d a month to to join this gym, 24 00:01:16,400 --> 00:01:17,960 Speaker 1: and I get it. Like I think, when I first 25 00:01:17,959 --> 00:01:21,000 Speaker 1: heard about cross Fit, I instantly revolted. I was like, 26 00:01:21,000 --> 00:01:23,240 Speaker 1: I don't understand why anyone would pay that much when 27 00:01:23,240 --> 00:01:27,480 Speaker 1: you can get a gym membership elsewhere for hundreds of dollars. Right, yes, 28 00:01:27,920 --> 00:01:30,840 Speaker 1: But after after going and just kind of seeing how 29 00:01:30,880 --> 00:01:33,160 Speaker 1: it's impacted some of my friends, just the camaraderie, the 30 00:01:33,160 --> 00:01:35,680 Speaker 1: community that I kind of get it. I get it. 31 00:01:35,720 --> 00:01:38,600 Speaker 1: You're paying not just for the access to workout equipment, 32 00:01:38,600 --> 00:01:41,679 Speaker 1: You're paying for a vibe, right, And uh so I 33 00:01:41,720 --> 00:01:43,560 Speaker 1: had a great time enjoyed working out. It's one of 34 00:01:43,600 --> 00:01:45,600 Speaker 1: those things. I still can't bring myself to pay in 35 00:01:45,600 --> 00:01:48,160 Speaker 1: two other bucks a month yet though. But I saw 36 00:01:48,280 --> 00:01:49,840 Speaker 1: this article in the New York Times. It's kind of 37 00:01:50,360 --> 00:01:52,840 Speaker 1: interested interested in me because the headline was getting fitter 38 00:01:52,920 --> 00:01:55,200 Speaker 1: in three seconds, and I was like, oh, three seconds 39 00:01:55,280 --> 00:01:57,880 Speaker 1: getting fitter that that sounds like way less time? Can 40 00:01:57,920 --> 00:01:59,840 Speaker 1: I do this? And what I had to dedicate the 41 00:01:59,840 --> 00:02:02,200 Speaker 1: other right? Can I do this while I'm on my couch? 42 00:02:02,240 --> 00:02:05,440 Speaker 1: Oh man, this sounds fantastic And so it was cool. Man, 43 00:02:05,480 --> 00:02:08,280 Speaker 1: it was talking about how this study found that people 44 00:02:08,639 --> 00:02:13,079 Speaker 1: literally contracting their muscles, their biceps in particular, really hard 45 00:02:13,120 --> 00:02:16,079 Speaker 1: for three seconds every day for a month, how many 46 00:02:16,120 --> 00:02:19,240 Speaker 1: of them were able to get more strong in their 47 00:02:19,280 --> 00:02:22,800 Speaker 1: bicep muscles, or even sprinting on a bike for four seconds, 48 00:02:23,040 --> 00:02:25,320 Speaker 1: or sprinting on your legs like a quick run for 49 00:02:25,440 --> 00:02:29,360 Speaker 1: ten seconds, how those things are actually impact your fitness levels. 50 00:02:29,400 --> 00:02:32,040 Speaker 1: And I just thought that was kind of fascinating, and 51 00:02:32,080 --> 00:02:34,959 Speaker 1: it just made me think, you know what, sometimes lifting 52 00:02:35,000 --> 00:02:36,880 Speaker 1: small weights or something like that can make you feel 53 00:02:37,080 --> 00:02:39,400 Speaker 1: feel good, and that's a good healthy thing to do too. 54 00:02:39,480 --> 00:02:42,040 Speaker 1: But sometimes just pushing yourself, even for just a little bit, 55 00:02:42,200 --> 00:02:44,680 Speaker 1: can be getting your body to do something it rarely 56 00:02:44,840 --> 00:02:47,639 Speaker 1: or never does, is a great way to get get 57 00:02:47,680 --> 00:02:50,400 Speaker 1: more fit exactly. Well, you say fit, but it's about 58 00:02:50,400 --> 00:02:52,400 Speaker 1: getting stronger strong, because like that's the difference too. It's 59 00:02:52,400 --> 00:02:55,240 Speaker 1: like it's not necessarily making our hearts fitter or like 60 00:02:55,240 --> 00:02:57,120 Speaker 1: our lungs, but like you are, you should still go 61 00:02:57,160 --> 00:03:00,160 Speaker 1: on a multiple, multiple mile run. Yeah, there are definitely benefits. Uh, 62 00:03:00,160 --> 00:03:02,000 Speaker 1: It's yeah, it's not quite the same thing as like 63 00:03:02,080 --> 00:03:05,280 Speaker 1: having a like full body fitness you know, routine or 64 00:03:05,280 --> 00:03:07,400 Speaker 1: something like that. But like the money application here that 65 00:03:07,480 --> 00:03:09,840 Speaker 1: obviously we're not just gonna start talking about health all 66 00:03:09,880 --> 00:03:11,799 Speaker 1: the time, but I think, like what stood out to 67 00:03:11,840 --> 00:03:13,400 Speaker 1: me is the fact that there are small things that 68 00:03:13,440 --> 00:03:15,720 Speaker 1: we can do in our lives virtually every day, or 69 00:03:15,760 --> 00:03:17,720 Speaker 1: not every day, but even like once a week, where 70 00:03:17,760 --> 00:03:19,720 Speaker 1: if we just gave it a little bit of attention, 71 00:03:19,919 --> 00:03:22,440 Speaker 1: that we would be able to see dramatic increases with 72 00:03:22,520 --> 00:03:24,680 Speaker 1: very small amounts of time. Right, And so like you 73 00:03:24,720 --> 00:03:27,280 Speaker 1: look at this workout plan, and granted this is research 74 00:03:27,360 --> 00:03:29,919 Speaker 1: done with college students, I'm guessing too with older folks 75 00:03:29,919 --> 00:03:32,760 Speaker 1: that actually might be different, but even still, by spending 76 00:03:32,800 --> 00:03:34,679 Speaker 1: three seconds, they were able to see, like you said, 77 00:03:34,720 --> 00:03:36,880 Speaker 1: like a ten twelve increase in strength. That is an 78 00:03:36,880 --> 00:03:39,800 Speaker 1: incredible r o I on your amount of time. And 79 00:03:39,840 --> 00:03:41,560 Speaker 1: I think there are small things in our lives when 80 00:03:41,560 --> 00:03:43,400 Speaker 1: it comes to our money, that if we just gave 81 00:03:43,400 --> 00:03:45,640 Speaker 1: it a little bit of attention, a little bit of 82 00:03:45,680 --> 00:03:48,119 Speaker 1: maybe intense attention, that we would be able to see 83 00:03:48,120 --> 00:03:50,800 Speaker 1: a dramatic change in our money, whether it's just the 84 00:03:50,840 --> 00:03:52,920 Speaker 1: money that we're making or the money that's going out. 85 00:03:53,200 --> 00:03:55,400 Speaker 1: And so for you know, maybe if someone's listening, maybe 86 00:03:55,400 --> 00:03:58,320 Speaker 1: for them that is like not using their credit cards anymore, right, 87 00:03:58,320 --> 00:04:00,600 Speaker 1: because that might mean that they're carrying balances every single 88 00:04:00,760 --> 00:04:02,880 Speaker 1: month and paying a lot of interest, or maybe that 89 00:04:02,920 --> 00:04:05,760 Speaker 1: means just actually signing up for like like a mint, 90 00:04:06,000 --> 00:04:08,120 Speaker 1: like the budgeting app or whatever and just start tracking 91 00:04:08,120 --> 00:04:10,040 Speaker 1: your expenses, because if you can see where it is 92 00:04:10,080 --> 00:04:11,880 Speaker 1: that you're spending your money, maybe that can have a 93 00:04:11,920 --> 00:04:14,760 Speaker 1: pretty significant impact on on what you actually do with 94 00:04:14,760 --> 00:04:16,960 Speaker 1: your money. So, um, I'm not saying that that's only 95 00:04:16,960 --> 00:04:19,159 Speaker 1: going to take you three seconds to do those things, 96 00:04:19,200 --> 00:04:21,320 Speaker 1: but I think there are some very small things and 97 00:04:21,360 --> 00:04:23,839 Speaker 1: some small changes that we can implement into our lives 98 00:04:23,839 --> 00:04:26,640 Speaker 1: where we would see kind of like those outside returns. Yeah, 99 00:04:26,680 --> 00:04:29,440 Speaker 1: I agree, all right, Well, um, just interesting and we'll 100 00:04:29,440 --> 00:04:30,960 Speaker 1: post a link to that in our show nuts. Because 101 00:04:31,000 --> 00:04:34,080 Speaker 1: if you are wanting to get stronger, um more quickly, 102 00:04:34,240 --> 00:04:36,760 Speaker 1: maybe some of these bite sized workouts will will help 103 00:04:36,800 --> 00:04:39,120 Speaker 1: you develop some more strength. And I'm just gonna start 104 00:04:39,160 --> 00:04:41,520 Speaker 1: flex on my biceps while I'm like watching Get Small Rolling, right, 105 00:04:41,520 --> 00:04:43,360 Speaker 1: because if you just start thinking about it at all, 106 00:04:43,520 --> 00:04:45,120 Speaker 1: just like with your money, if you start thinking about 107 00:04:45,160 --> 00:04:47,120 Speaker 1: it at all, I think you're gonna there's a good 108 00:04:47,200 --> 00:04:49,040 Speaker 1: chance that you're gonna start making some better decisions. It's 109 00:04:49,080 --> 00:04:51,159 Speaker 1: like the nudge in the right direction exactly. All right, Well, 110 00:04:51,200 --> 00:04:53,080 Speaker 1: let's let's move on. Let's get to our Friday flight 111 00:04:53,120 --> 00:04:55,680 Speaker 1: stories that we found interesting this week. We are going 112 00:04:55,720 --> 00:04:58,240 Speaker 1: to get to that student loan freeze, because that is 113 00:04:58,360 --> 00:05:00,200 Speaker 1: just obviously top of mind for so many people out 114 00:05:00,200 --> 00:05:02,880 Speaker 1: anybody who has a student loan obviously. But let's talk 115 00:05:02,920 --> 00:05:06,039 Speaker 1: about mortgages for a second, Matt, because, um, I guess 116 00:05:06,080 --> 00:05:08,400 Speaker 1: something I was thinking about this week was are we 117 00:05:08,400 --> 00:05:11,200 Speaker 1: going to see forty year mortgages become a reality in 118 00:05:11,360 --> 00:05:14,200 Speaker 1: the near future, because right now, the longest term mortgage 119 00:05:14,240 --> 00:05:16,880 Speaker 1: that most people have access to is a thirty year mortgage. 120 00:05:17,000 --> 00:05:20,120 Speaker 1: But the president of the Philadelphia Fed, he remarked last 121 00:05:20,160 --> 00:05:23,760 Speaker 1: week that this might be a good idea. And yeah, 122 00:05:23,800 --> 00:05:26,680 Speaker 1: I again I have to agree to disagree on this 123 00:05:26,720 --> 00:05:30,280 Speaker 1: one because and he's probably smarter than I am, But um, 124 00:05:30,320 --> 00:05:32,680 Speaker 1: I think we can still respectfully disagree. And you know, 125 00:05:32,720 --> 00:05:35,719 Speaker 1: inflation obviously is making lots of things more expensive right now. 126 00:05:35,880 --> 00:05:39,640 Speaker 1: A lack of housing affordability is part of that collateral damage. 127 00:05:39,720 --> 00:05:42,039 Speaker 1: Especially as interest rates are shooting up at just a 128 00:05:42,120 --> 00:05:45,279 Speaker 1: rapid clip. It's obviously becoming a problem for anyone who 129 00:05:45,320 --> 00:05:46,920 Speaker 1: is in the housing market. MAT. We got an email 130 00:05:47,200 --> 00:05:49,640 Speaker 1: this week from a listener who, uh, at the end, 131 00:05:49,640 --> 00:05:52,279 Speaker 1: he signed signed off anxious renter because he wants to 132 00:05:52,279 --> 00:05:54,200 Speaker 1: buy a house and it's a tough time. And my 133 00:05:54,240 --> 00:05:56,719 Speaker 1: heart goes out to anybody who's in that position. It's 134 00:05:56,720 --> 00:06:00,080 Speaker 1: not easy. But the solution is not to necessary the 135 00:06:00,200 --> 00:06:02,920 Speaker 1: stretch out payments over a longer period of time. Um. 136 00:06:02,960 --> 00:06:04,920 Speaker 1: It's kind of like how we talk about car loans, right, 137 00:06:05,080 --> 00:06:07,440 Speaker 1: we're not really big fans of car loans in general. 138 00:06:07,520 --> 00:06:10,720 Speaker 1: I hate them. Yeah, they suck, but we really dislike 139 00:06:10,800 --> 00:06:12,640 Speaker 1: the ones that allow you to pay off your car 140 00:06:12,680 --> 00:06:16,480 Speaker 1: over seven or eight years or longer. Like you're underwater 141 00:06:16,560 --> 00:06:18,839 Speaker 1: in that car loan for a long time if that's 142 00:06:18,839 --> 00:06:20,680 Speaker 1: what you're doing. What if your car breaks down and 143 00:06:20,720 --> 00:06:22,800 Speaker 1: you need a new one, you know, longer loan terms, 144 00:06:22,920 --> 00:06:25,159 Speaker 1: they don't fix the underlying problem. And I think the 145 00:06:25,200 --> 00:06:28,480 Speaker 1: same is true when we're talking about mortgages. Just pushing 146 00:06:28,480 --> 00:06:30,680 Speaker 1: it out over a longer period of time isn't the 147 00:06:30,720 --> 00:06:32,919 Speaker 1: fix that most people need. Yeah, you know, like I 148 00:06:33,000 --> 00:06:36,560 Speaker 1: get the logical reason for suggesting that a forty year mortgage, 149 00:06:36,680 --> 00:06:38,279 Speaker 1: you know, how how that might be a good idea, 150 00:06:38,600 --> 00:06:40,800 Speaker 1: Like longer loan terms, that's gonna mean lower payments for 151 00:06:40,839 --> 00:06:44,080 Speaker 1: millions of buyers, effectively allowing them to purchase a home 152 00:06:44,120 --> 00:06:46,360 Speaker 1: that they otherwise wouldn't be able to afford. The same 153 00:06:46,400 --> 00:06:48,320 Speaker 1: thing is true with a car loan, but you are 154 00:06:48,360 --> 00:06:50,360 Speaker 1: paying more in interest over the life of the loan, 155 00:06:50,440 --> 00:06:54,000 Speaker 1: and you are building equity within that that asset within 156 00:06:54,000 --> 00:06:56,440 Speaker 1: that home at a glacial pace, you know, like and 157 00:06:56,480 --> 00:06:59,080 Speaker 1: so this means that if you unexpectedly have to move 158 00:06:59,240 --> 00:07:00,840 Speaker 1: for work or you know, or you want to move 159 00:07:00,839 --> 00:07:03,080 Speaker 1: into a bigger home just as your family is growing, 160 00:07:03,440 --> 00:07:05,080 Speaker 1: you might find that you are not in a great 161 00:07:05,080 --> 00:07:07,640 Speaker 1: financial position with your home. We want you to have 162 00:07:07,720 --> 00:07:10,600 Speaker 1: a long ownership time horizon anyway when it comes to 163 00:07:10,800 --> 00:07:13,280 Speaker 1: buying a home because of real turfees and closing costs. 164 00:07:13,760 --> 00:07:16,600 Speaker 1: But a forty year mortgage, you know, as these become 165 00:07:16,600 --> 00:07:18,080 Speaker 1: a reality, I think you need to stay in at 166 00:07:18,120 --> 00:07:20,680 Speaker 1: home even longer in order to not make a massive 167 00:07:20,760 --> 00:07:24,080 Speaker 1: financial mistake. Yeah, so this is just kind of conjecture 168 00:07:24,120 --> 00:07:25,680 Speaker 1: at this point, but you know, people have talked about 169 00:07:25,720 --> 00:07:28,800 Speaker 1: forty year mortgages in the potential for those for a 170 00:07:28,840 --> 00:07:31,240 Speaker 1: lot of years and Yeah, I just I don't think 171 00:07:31,240 --> 00:07:33,800 Speaker 1: they're a good idea. I think some people could use them, well, 172 00:07:34,000 --> 00:07:35,680 Speaker 1: like just some people, Like some people are still able 173 00:07:35,680 --> 00:07:37,240 Speaker 1: to use a car loan. Well, if you get zero 174 00:07:37,240 --> 00:07:39,280 Speaker 1: percent interest rate on a loan for six months and 175 00:07:39,400 --> 00:07:41,360 Speaker 1: you had the cash on hand anyway, it's like, well 176 00:07:41,360 --> 00:07:44,000 Speaker 1: that wasn't a terrible financial decision. But there are a 177 00:07:44,000 --> 00:07:45,920 Speaker 1: lot of people who would use them poorly and would 178 00:07:45,920 --> 00:07:48,760 Speaker 1: get into a house that they really truly shouldn't be buying. 179 00:07:49,000 --> 00:07:51,200 Speaker 1: So it's it's not my favorite thing. Uh, let's move 180 00:07:51,200 --> 00:07:53,280 Speaker 1: on at let's talk about libraries for a second, because 181 00:07:53,320 --> 00:07:55,320 Speaker 1: you know we have we haven't talked about our favorite 182 00:07:55,360 --> 00:07:57,320 Speaker 1: libraries here on the show in a while. Like I 183 00:07:57,360 --> 00:07:58,920 Speaker 1: went with my kids the other day to the library, 184 00:07:58,960 --> 00:08:01,560 Speaker 1: picked out some books. Think we got twenty two books, which, um, 185 00:08:02,080 --> 00:08:04,120 Speaker 1: that's that's the maximum. Yeah, I think I think it 186 00:08:04,200 --> 00:08:06,360 Speaker 1: might be closing. That's how many our kids bring home 187 00:08:06,400 --> 00:08:08,240 Speaker 1: as well, which I'm just gonna say, I think that's 188 00:08:08,280 --> 00:08:09,880 Speaker 1: just a healthy way to view the library. But yes, 189 00:08:09,920 --> 00:08:12,480 Speaker 1: it's like why not use it? Abuse it? Will not 190 00:08:12,560 --> 00:08:14,760 Speaker 1: abuse it, but like like actually utilize it, get the books. 191 00:08:14,760 --> 00:08:16,360 Speaker 1: Don't worry about whether or not you're going to finish 192 00:08:16,360 --> 00:08:17,800 Speaker 1: this book or whether you'll like it, just give it 193 00:08:17,840 --> 00:08:19,440 Speaker 1: a shot. Well, by abuse it, I mean just like 194 00:08:19,720 --> 00:08:21,800 Speaker 1: use it up a lot. But but one way that 195 00:08:21,800 --> 00:08:24,440 Speaker 1: you would potentially abuse it is by not returning your 196 00:08:24,440 --> 00:08:27,280 Speaker 1: books right and then then getting hit with fees and 197 00:08:27,320 --> 00:08:31,000 Speaker 1: fines and basically you know, late fees that the library charges. 198 00:08:31,600 --> 00:08:33,800 Speaker 1: Of course, you can avoid that altogether by returning the 199 00:08:33,800 --> 00:08:37,320 Speaker 1: book on time, but some public libraries actually generate millions 200 00:08:37,360 --> 00:08:39,480 Speaker 1: of dollars every year in late fees, which is good 201 00:08:39,520 --> 00:08:43,200 Speaker 1: to help support the library. But except in New York 202 00:08:43,240 --> 00:08:45,959 Speaker 1: because recently the New York Library System they ended late 203 00:08:46,000 --> 00:08:49,320 Speaker 1: fees for customers. Why did they do that, Well, the 204 00:08:49,320 --> 00:08:51,520 Speaker 1: big reason was because they wanted their stuff back. I 205 00:08:51,559 --> 00:08:53,960 Speaker 1: think people get so afraid they're like, I I owe 206 00:08:53,960 --> 00:08:56,360 Speaker 1: a late fine on this book, or like maybe multiple 207 00:08:56,360 --> 00:08:58,080 Speaker 1: books are a bunch of stuff that they're hoarding from 208 00:08:58,080 --> 00:09:00,360 Speaker 1: like one library visit, like the twenty two books got 209 00:09:00,480 --> 00:09:02,800 Speaker 1: and they decide, you know what, it's gonna cost me 210 00:09:02,840 --> 00:09:04,800 Speaker 1: a hundred dollars to take all these books back. I'm 211 00:09:04,840 --> 00:09:07,439 Speaker 1: never going back to the library again. And this story 212 00:09:07,520 --> 00:09:10,880 Speaker 1: documented people who had books since the sixties and seventies 213 00:09:11,200 --> 00:09:14,320 Speaker 1: and because they ended ended finds, they returned all these 214 00:09:14,360 --> 00:09:16,480 Speaker 1: books that they've been holding on too for years, sometimes 215 00:09:16,520 --> 00:09:19,480 Speaker 1: along with like a sweet note saying thanks and sorry 216 00:09:19,480 --> 00:09:21,920 Speaker 1: about that. But it was just a really interesting article 217 00:09:22,000 --> 00:09:24,160 Speaker 1: to see how, you know what, ending those fines actually 218 00:09:24,200 --> 00:09:26,720 Speaker 1: kind of allows some people, those delinquents to bring all 219 00:09:26,720 --> 00:09:29,480 Speaker 1: their stuff back to the library. And because we love libraries, 220 00:09:29,480 --> 00:09:30,880 Speaker 1: were just like, you know, we like to see these 221 00:09:31,160 --> 00:09:34,400 Speaker 1: library systems. There's something any money conscious person should really 222 00:09:34,480 --> 00:09:37,040 Speaker 1: be intentional about using totally has something else that changed 223 00:09:37,080 --> 00:09:39,760 Speaker 1: to when they implemented that, there have been more library 224 00:09:39,880 --> 00:09:42,440 Speaker 1: visitors since the finds were done away with. So it's 225 00:09:42,440 --> 00:09:44,959 Speaker 1: really cool to see how this like seemingly small change 226 00:09:45,040 --> 00:09:46,679 Speaker 1: like that, how it can have a big impact on 227 00:09:46,760 --> 00:09:49,200 Speaker 1: folks willingness to show back up and to use their 228 00:09:49,240 --> 00:09:51,920 Speaker 1: their local public library. Something else I'm saying here too 229 00:09:51,960 --> 00:09:53,240 Speaker 1: is the fact that like it seems like there's like 230 00:09:53,280 --> 00:09:57,480 Speaker 1: a sense of shame associated with folks and the fees 231 00:09:57,520 --> 00:09:59,040 Speaker 1: of the oh and the books that they have to 232 00:09:59,040 --> 00:10:01,280 Speaker 1: give back. They know that if they go there they 233 00:10:01,280 --> 00:10:04,200 Speaker 1: feel bad basically, and so because of that, they's something 234 00:10:04,200 --> 00:10:05,960 Speaker 1: that they avoid altogether. And again I'm gonna tie this 235 00:10:05,960 --> 00:10:08,440 Speaker 1: back to money, because in a similar way, there are 236 00:10:08,440 --> 00:10:11,439 Speaker 1: facets of our personal finances where we have completely ignored, 237 00:10:11,679 --> 00:10:14,680 Speaker 1: and those bad habits can build upon themselves, leading to 238 00:10:14,800 --> 00:10:17,200 Speaker 1: even you know, worse outcomes down the road. And so 239 00:10:17,400 --> 00:10:18,840 Speaker 1: all that to say, sort of like the three minute 240 00:10:18,840 --> 00:10:20,840 Speaker 1: workout thing, like, I think even the smallest move in 241 00:10:20,840 --> 00:10:24,000 Speaker 1: the right direction can help to transform how you see yourself, 242 00:10:24,200 --> 00:10:26,760 Speaker 1: whether as a library user or somebody who is actually 243 00:10:26,800 --> 00:10:28,920 Speaker 1: going to start investing for your future. We can all 244 00:10:28,960 --> 00:10:31,440 Speaker 1: tend to be forgetful to there's no shame in that game, Like, 245 00:10:31,559 --> 00:10:33,600 Speaker 1: just go pay the fine and return your stuff. Like 246 00:10:34,200 --> 00:10:35,839 Speaker 1: the last time I went to the library before we 247 00:10:35,840 --> 00:10:37,760 Speaker 1: could check out our twenty two books, I too had 248 00:10:37,760 --> 00:10:40,360 Speaker 1: to pay a late fine. And I blame my wife 249 00:10:40,480 --> 00:10:43,680 Speaker 1: on that one, but I loves right in fifteen cents. 250 00:10:43,679 --> 00:10:45,680 Speaker 1: It was like seven bucks. Yeah, we were late. We 251 00:10:45,679 --> 00:10:47,400 Speaker 1: were late on that one. Actually they thought the book 252 00:10:47,440 --> 00:10:48,600 Speaker 1: was lost. So this is one of those that we 253 00:10:48,640 --> 00:10:50,959 Speaker 1: had been holding onto for a long time, and but 254 00:10:51,000 --> 00:10:52,199 Speaker 1: it's one of those. It was like, all right, pay 255 00:10:52,240 --> 00:10:54,160 Speaker 1: the money, pay the seven bucks, move on, check out 256 00:10:54,200 --> 00:10:55,920 Speaker 1: some new books, and then yeah, one other way to 257 00:10:56,000 --> 00:10:58,600 Speaker 1: avoid the late fees something that I use frequently, which 258 00:10:59,400 --> 00:11:01,040 Speaker 1: I was like, why can't I get a book an 259 00:11:01,080 --> 00:11:03,240 Speaker 1: audio book on the Libby app right now? And it 260 00:11:03,280 --> 00:11:04,679 Speaker 1: was because we had this light fine and they were 261 00:11:04,720 --> 00:11:07,400 Speaker 1: like clampant in town. But that that is one of 262 00:11:07,400 --> 00:11:10,440 Speaker 1: the ways to avoid late fines too, is getting audio books, 263 00:11:10,440 --> 00:11:14,520 Speaker 1: getting e books on Libby or overdrive because Hoopla, Yeah, 264 00:11:14,559 --> 00:11:17,280 Speaker 1: they'll automatically pull those books back once that a lot 265 00:11:17,320 --> 00:11:19,840 Speaker 1: of time is up. So yeah, I love kind of 266 00:11:19,880 --> 00:11:22,280 Speaker 1: those digital assets because you don't even have to really 267 00:11:22,480 --> 00:11:23,920 Speaker 1: really think about them, and you know, I'm just like 268 00:11:23,960 --> 00:11:26,559 Speaker 1: being able to listen to audio books on my phone anyway. Yeah, 269 00:11:26,640 --> 00:11:29,520 Speaker 1: let's keep moving. In CNBC, they published an article about 270 00:11:29,920 --> 00:11:32,720 Speaker 1: why free shipping, why It's not free, and I'm glad 271 00:11:32,720 --> 00:11:34,839 Speaker 1: they did because I think that free shipping has kind 272 00:11:34,840 --> 00:11:36,640 Speaker 1: of warped our brains a little bit when it comes 273 00:11:36,640 --> 00:11:38,800 Speaker 1: to how we buy things online. It's definitely kind of 274 00:11:38,880 --> 00:11:41,560 Speaker 1: changed how I view things. I know that I'm definitely 275 00:11:41,640 --> 00:11:44,079 Speaker 1: inclined to dismiss anything that's being sold on the internet 276 00:11:44,160 --> 00:11:46,920 Speaker 1: if I have to pay a dime for shipping. But 277 00:11:47,360 --> 00:11:50,280 Speaker 1: we like we all know that the post Office, FedEx, 278 00:11:50,320 --> 00:11:52,880 Speaker 1: the eups that they're you know, they're not bringing packages 279 00:11:52,880 --> 00:11:55,560 Speaker 1: to your door without getting paid. This this isn't just 280 00:11:55,600 --> 00:11:58,240 Speaker 1: some service that they're offering for free. And of course 281 00:11:58,840 --> 00:12:01,480 Speaker 1: small businesses they have the hardest time competing in the 282 00:12:01,480 --> 00:12:04,080 Speaker 1: free shipping push because they are paying more dollars for 283 00:12:04,080 --> 00:12:07,080 Speaker 1: each package they send. The big players out there like Walmart, Amazon, 284 00:12:07,120 --> 00:12:09,880 Speaker 1: they get better rates due to their massive volume and 285 00:12:09,920 --> 00:12:12,160 Speaker 1: the amount of business that they're able to generate. But 286 00:12:12,160 --> 00:12:14,240 Speaker 1: don't forget that you are literally paying for that free 287 00:12:14,280 --> 00:12:17,240 Speaker 1: quote unquote free to day shipping with your plus or 288 00:12:17,280 --> 00:12:21,079 Speaker 1: your Prime membership. We have basically like divorced in our mind, 289 00:12:21,240 --> 00:12:24,440 Speaker 1: these additional expenses from the things that we buy, like 290 00:12:24,559 --> 00:12:27,160 Speaker 1: you know, online whenever we feel the need to buy something. 291 00:12:27,200 --> 00:12:29,520 Speaker 1: And that probably also just leads to a lot of waste, 292 00:12:29,600 --> 00:12:31,600 Speaker 1: right because we're buying things one off because like hey, 293 00:12:31,679 --> 00:12:34,960 Speaker 1: free shipping. But all that stuff leads to higher costs 294 00:12:35,000 --> 00:12:37,000 Speaker 1: for these companies and they will pass them on to us. 295 00:12:37,240 --> 00:12:40,400 Speaker 1: And researchers have actually pointed out that companies have removed 296 00:12:40,440 --> 00:12:43,160 Speaker 1: what they call the pain of pain from the online 297 00:12:43,160 --> 00:12:46,360 Speaker 1: shopping experience by removing that charge basically from day to 298 00:12:46,400 --> 00:12:49,760 Speaker 1: day purchases. Plus companies like Walmart and Amazon, they've they've 299 00:12:49,760 --> 00:12:52,640 Speaker 1: just muddied the waters obviously even more by giving us 300 00:12:52,679 --> 00:12:54,880 Speaker 1: other free parks that go along with free shipping. So 301 00:12:55,160 --> 00:12:57,240 Speaker 1: you know, whether it's just kind of gas for members, 302 00:12:57,320 --> 00:13:00,199 Speaker 1: or video streaming for free, like well, watch this for 303 00:13:00,280 --> 00:13:02,720 Speaker 1: listen to this music for free. It's just it's getting 304 00:13:02,720 --> 00:13:05,040 Speaker 1: tougher than ever to make an apples to apples comparison 305 00:13:05,040 --> 00:13:08,120 Speaker 1: when you're shopping online and you're not just paying for shipping, 306 00:13:08,120 --> 00:13:10,560 Speaker 1: you're paying for this whole host, this whole suite of 307 00:13:10,640 --> 00:13:13,240 Speaker 1: services exactly how providing you and so now free shipping 308 00:13:13,280 --> 00:13:15,600 Speaker 1: is just kind of one of those benefits that you're receiving, 309 00:13:15,760 --> 00:13:18,600 Speaker 1: and it's harder to weigh it against shopping elsewhere. And 310 00:13:18,720 --> 00:13:20,560 Speaker 1: it's just good to be reminded of the fact that 311 00:13:20,600 --> 00:13:22,680 Speaker 1: we we just naturally we like things to be easy, 312 00:13:22,960 --> 00:13:25,400 Speaker 1: and like Amazon and Walmart plus they have made it 313 00:13:25,520 --> 00:13:28,400 Speaker 1: just so much easier to kind of shop in within 314 00:13:28,440 --> 00:13:31,040 Speaker 1: that silo. But you know, this data, it points out 315 00:13:31,120 --> 00:13:34,120 Speaker 1: that consumers are willing to pay more than the cost 316 00:13:34,160 --> 00:13:36,640 Speaker 1: of shipping if that higher costs just baked into the 317 00:13:36,640 --> 00:13:38,880 Speaker 1: cost of the product. And so sometimes just seeing free 318 00:13:38,880 --> 00:13:40,719 Speaker 1: shipping it sets off this light in our head that 319 00:13:40,760 --> 00:13:42,839 Speaker 1: we're getting a deal, but really we should do a 320 00:13:42,880 --> 00:13:45,120 Speaker 1: little more research before we pull the trigger, before we 321 00:13:45,200 --> 00:13:48,120 Speaker 1: make the purchase. They're being told the shipping is free 322 00:13:48,360 --> 00:13:50,800 Speaker 1: means we're often just fooling ourselves rather than looking at 323 00:13:50,840 --> 00:13:53,360 Speaker 1: the actual numbers. So I get it. My brain works 324 00:13:53,360 --> 00:13:55,160 Speaker 1: the same way, but it's something we have to actively 325 00:13:55,200 --> 00:13:58,559 Speaker 1: fight against. When we're shopping online. Do some price checks, 326 00:13:58,600 --> 00:14:02,840 Speaker 1: you know, use use us, use Google Shopping, or use 327 00:14:02,880 --> 00:14:04,960 Speaker 1: one of the plug ins like honey Um in order 328 00:14:05,000 --> 00:14:07,240 Speaker 1: to determine like, well, hey, is this the best price 329 00:14:07,280 --> 00:14:10,360 Speaker 1: it's been recently? Is it cheaper elsewhere? Like those are 330 00:14:10,360 --> 00:14:11,640 Speaker 1: the kind of things that are going to help you 331 00:14:11,679 --> 00:14:14,199 Speaker 1: not just hit by because yeah, well yeah, I guess 332 00:14:14,200 --> 00:14:17,080 Speaker 1: it's free shipping, it must be a decent deal and itself. Well, 333 00:14:17,160 --> 00:14:19,600 Speaker 1: just to look more outside of the shops where you 334 00:14:19,960 --> 00:14:22,680 Speaker 1: normally buy stuff, Like if you're always on Amazon, look 335 00:14:22,720 --> 00:14:25,160 Speaker 1: somewhere else too, because you're not always getting the best 336 00:14:25,160 --> 00:14:27,040 Speaker 1: price there. And I know it's easy, and I know 337 00:14:27,160 --> 00:14:29,920 Speaker 1: shipping is quote unquote free, but it doesn't mean you're 338 00:14:29,960 --> 00:14:32,280 Speaker 1: necessarily getting the best deal. That's right, man, All right, 339 00:14:32,280 --> 00:14:34,160 Speaker 1: We've got several other stories we're gonna get to during 340 00:14:34,160 --> 00:14:38,120 Speaker 1: this episode right after the break, including one about the 341 00:14:38,160 --> 00:14:40,920 Speaker 1: ways that we can curb fuel consumption. We'll get to 342 00:14:40,960 --> 00:14:51,840 Speaker 1: that plus a few others right after this. All right, 343 00:14:51,880 --> 00:14:53,840 Speaker 1: we are back. It's time to get to our ludicrous 344 00:14:53,840 --> 00:14:56,200 Speaker 1: headline of the week before we get to that story 345 00:14:56,240 --> 00:14:58,480 Speaker 1: about curbing our fuel consumption. We've got actually a few 346 00:14:58,480 --> 00:15:00,720 Speaker 1: stories we want to cover on that. But our Lucas 347 00:15:00,760 --> 00:15:04,760 Speaker 1: headline comes from a new Fidelity study and it reads 348 00:15:04,760 --> 00:15:07,040 Speaker 1: of gen Z and millennials don't see the point of 349 00:15:07,080 --> 00:15:10,520 Speaker 1: saving four the future. Matt, I'm not gonna lie. I 350 00:15:10,520 --> 00:15:12,520 Speaker 1: shout a tear when I read that headline, I was like, 351 00:15:12,520 --> 00:15:16,200 Speaker 1: who are these people? These pessimistic, dour people who don't 352 00:15:16,200 --> 00:15:19,240 Speaker 1: want to save for their their future selves just season 353 00:15:19,240 --> 00:15:22,240 Speaker 1: the day man Yellow, I guess so. But that's you know, 354 00:15:22,360 --> 00:15:25,320 Speaker 1: that's gonna lead to a lot of financial insecurity in 355 00:15:25,360 --> 00:15:27,440 Speaker 1: all likelihood, a lot of debts, and just a lot 356 00:15:27,480 --> 00:15:30,440 Speaker 1: more years of working. In general, two and nearly half 357 00:15:30,520 --> 00:15:33,520 Speaker 1: of folks ages eighteen to thirty five they don't see 358 00:15:33,560 --> 00:15:36,040 Speaker 1: the point in saving for their own future, at least 359 00:15:36,120 --> 00:15:39,760 Speaker 1: until things returned to normal. But then it made me 360 00:15:39,760 --> 00:15:42,480 Speaker 1: ask the question, what really is normal anymore, Like, Uh, 361 00:15:42,680 --> 00:15:45,200 Speaker 1: we're kind of living in odd times. And and according 362 00:15:45,240 --> 00:15:47,320 Speaker 1: to that study, you know, things returning back to normal 363 00:15:47,400 --> 00:15:50,880 Speaker 1: means a post COVID world, but most experts agree that 364 00:15:50,880 --> 00:15:53,440 Speaker 1: that's never actually gonna happen. We're gonna be living with 365 00:15:53,520 --> 00:15:57,080 Speaker 1: COVID nineteen for many, many, many years to come. And so, yeah, 366 00:15:57,120 --> 00:15:59,760 Speaker 1: the pandemic, obviously, it's been hard for everyone. It's been 367 00:16:00,160 --> 00:16:04,280 Speaker 1: specifically difficult for some people more than others. But here's 368 00:16:04,320 --> 00:16:06,920 Speaker 1: the thing. The world didn't stop spinning. And our advice 369 00:16:07,080 --> 00:16:10,120 Speaker 1: is to get busy living life, which includes being smart 370 00:16:10,120 --> 00:16:12,720 Speaker 1: with your money, regardless of what you've got going on, 371 00:16:12,960 --> 00:16:15,200 Speaker 1: you know, retirement, it can seem like it's a long 372 00:16:15,240 --> 00:16:17,560 Speaker 1: way off, but time is on your side. If you 373 00:16:17,600 --> 00:16:20,520 Speaker 1: start young, the longer you delay, the worst off you're 374 00:16:20,560 --> 00:16:22,960 Speaker 1: going to be. Yeah, that's right. If you don't start 375 00:16:22,960 --> 00:16:26,000 Speaker 1: contributing to your retirement accounts until you're in your forties 376 00:16:26,040 --> 00:16:28,640 Speaker 1: or even your fifties, you're gonna have what's going to 377 00:16:28,680 --> 00:16:30,880 Speaker 1: seem like a monumental task ahead of you, right like, 378 00:16:30,920 --> 00:16:33,320 Speaker 1: And so the younger you start, the less that you 379 00:16:33,480 --> 00:16:36,120 Speaker 1: actually need to set aside to achieve your goals. Um, 380 00:16:36,120 --> 00:16:37,720 Speaker 1: and here's the thing too, no one else is going 381 00:16:37,760 --> 00:16:39,400 Speaker 1: to be doing this for you. No one's gonna save 382 00:16:39,600 --> 00:16:43,640 Speaker 1: for retirement for you. Pensions uh mostly don't exist anymore. 383 00:16:43,800 --> 00:16:45,920 Speaker 1: Social security is It's going to still be around, but 384 00:16:45,960 --> 00:16:48,600 Speaker 1: it won't be enough to for you to get by. 385 00:16:48,720 --> 00:16:52,120 Speaker 1: It's tough seeing this pessimism from folks just a little 386 00:16:52,120 --> 00:16:54,960 Speaker 1: bit younger than us. And it's not that the recent 387 00:16:55,000 --> 00:16:57,080 Speaker 1: world events, it's not that they don't offer a reason 388 00:16:57,240 --> 00:16:59,720 Speaker 1: to be concerned, but it's just crucial to focus on 389 00:16:59,760 --> 00:17:03,120 Speaker 1: things that are in our locus of control, saving for 390 00:17:03,160 --> 00:17:05,440 Speaker 1: our own futures, even if it is just a little 391 00:17:05,440 --> 00:17:07,160 Speaker 1: bit to start off with. It's just one of those 392 00:17:07,200 --> 00:17:10,320 Speaker 1: things that we do have control over. World events. While 393 00:17:10,320 --> 00:17:11,880 Speaker 1: they are important and we do need to be aware 394 00:17:11,880 --> 00:17:14,720 Speaker 1: of them, should not detract from saving for our own futures. 395 00:17:14,920 --> 00:17:16,720 Speaker 1: And it's not that there's not scary stuff happening, and 396 00:17:16,720 --> 00:17:18,920 Speaker 1: it's not that it's not been a really difficult last 397 00:17:18,960 --> 00:17:21,720 Speaker 1: few years. But the reality is hard things are going 398 00:17:21,760 --> 00:17:24,119 Speaker 1: to happen, whether they're on the world stage or whether 399 00:17:24,160 --> 00:17:27,960 Speaker 1: they're on your specific individual or familial stage, right, so 400 00:17:28,480 --> 00:17:32,359 Speaker 1: you're gonna incur difficult things throughout the years no matter 401 00:17:32,440 --> 00:17:34,679 Speaker 1: what um and I think part of it, Matt, is 402 00:17:34,720 --> 00:17:37,480 Speaker 1: that seven new cycle just reinforces the things that we 403 00:17:37,520 --> 00:17:40,160 Speaker 1: should be scared of. And the more we we watch news, 404 00:17:40,200 --> 00:17:42,280 Speaker 1: in all likelihood, the more fear fearful we're going to be. 405 00:17:42,600 --> 00:17:45,439 Speaker 1: And so I'd love to see our younger cohort of 406 00:17:45,520 --> 00:17:48,760 Speaker 1: gen Z and millennials actually kind of UM realize that 407 00:17:48,800 --> 00:17:50,679 Speaker 1: there are scary things out there, but that this doesn't 408 00:17:51,119 --> 00:17:53,320 Speaker 1: mean that you should not be thinking about and saving 409 00:17:53,359 --> 00:17:55,560 Speaker 1: for your own future. It's crucial so that you can 410 00:17:55,600 --> 00:17:58,359 Speaker 1: have your greater level of financial independence, so you can 411 00:17:58,400 --> 00:18:01,040 Speaker 1: have more freedom over you know, what you're gonna do 412 00:18:01,119 --> 00:18:04,040 Speaker 1: with your own future. Saving for your future is crucial 413 00:18:04,119 --> 00:18:06,240 Speaker 1: really no matter what stage of life you're in, but 414 00:18:06,320 --> 00:18:09,480 Speaker 1: in particular mat for for those gen zs, for the millennials. 415 00:18:09,520 --> 00:18:11,480 Speaker 1: Like like you said, just a little bit goes a 416 00:18:11,480 --> 00:18:14,040 Speaker 1: long way when you start young, that's right, man. Yeah, 417 00:18:14,119 --> 00:18:15,879 Speaker 1: And as we think about the different things we have 418 00:18:15,880 --> 00:18:18,440 Speaker 1: control over, it's important to recognize some of the things 419 00:18:18,520 --> 00:18:20,879 Speaker 1: that we don't have control over, you know, like COVID, 420 00:18:21,080 --> 00:18:23,080 Speaker 1: like the economy. One of the things that we also 421 00:18:23,080 --> 00:18:24,919 Speaker 1: don't have control over is whether or not the federal 422 00:18:24,920 --> 00:18:28,920 Speaker 1: government continues to extend the student loan forbearance, and earlier 423 00:18:28,920 --> 00:18:32,600 Speaker 1: this week, Biden announced that the payment pause will continue 424 00:18:32,840 --> 00:18:36,119 Speaker 1: until September, and who knows, it might even extend beyond that. 425 00:18:36,200 --> 00:18:39,160 Speaker 1: So this is good news for those who we're looking 426 00:18:39,200 --> 00:18:41,600 Speaker 1: to see an additional payments out of their monthly budget. 427 00:18:41,840 --> 00:18:44,080 Speaker 1: But to anyone out there who was gearing up for 428 00:18:44,119 --> 00:18:46,840 Speaker 1: those payments to resume, now is the time to invest. 429 00:18:46,880 --> 00:18:48,639 Speaker 1: You know, we just talked about how almost half of 430 00:18:49,240 --> 00:18:52,000 Speaker 1: our generation, half of Gen Z and millennials, aren't saving 431 00:18:52,080 --> 00:18:55,159 Speaker 1: for the future. Well, now you can start regularly socking 432 00:18:55,160 --> 00:18:58,040 Speaker 1: away money towards retirement. Again, it's tough to know what 433 00:18:58,119 --> 00:19:00,399 Speaker 1: the future holds. Who knows what COVID gonna look like, 434 00:19:00,400 --> 00:19:02,320 Speaker 1: who knows what is going to happen to student loans 435 00:19:02,320 --> 00:19:04,560 Speaker 1: in the long term, but it is important to take 436 00:19:04,600 --> 00:19:07,200 Speaker 1: action where we can in our own individual lives. Yeah, 437 00:19:07,240 --> 00:19:09,639 Speaker 1: I know there's much rejoicing from anyone who has student 438 00:19:09,680 --> 00:19:13,440 Speaker 1: loans because yeah, I mean, nobody really wants those payments 439 00:19:13,480 --> 00:19:15,760 Speaker 1: to resume. If you've got them, you're like, yeah, keep 440 00:19:15,960 --> 00:19:18,480 Speaker 1: keep kicking the can down the road. But ultimately, at 441 00:19:18,520 --> 00:19:20,840 Speaker 1: some point, we believe those will resume. We just don't 442 00:19:20,840 --> 00:19:23,040 Speaker 1: know when and so what. We'll keep you up to speed, 443 00:19:23,080 --> 00:19:24,880 Speaker 1: but it looks like, yeah, you've got you've got through 444 00:19:24,880 --> 00:19:27,840 Speaker 1: the summer now and it won't be until the fall 445 00:19:27,920 --> 00:19:30,400 Speaker 1: when student loans are going to resume. But now, let's 446 00:19:30,400 --> 00:19:33,360 Speaker 1: talk about gas prices for a second, because they obviously 447 00:19:33,400 --> 00:19:36,760 Speaker 1: remain stubbornly high. Uh, the national average has actually declined 448 00:19:36,800 --> 00:19:38,840 Speaker 1: a little bit in recent weeks, and and part of that, 449 00:19:38,880 --> 00:19:42,200 Speaker 1: some states have, you know, instituted a temporary tax moratorium 450 00:19:42,320 --> 00:19:45,280 Speaker 1: which has brought prices down even more. Georgia, where we live, 451 00:19:45,320 --> 00:19:47,520 Speaker 1: that's one of those states where we've seen something like 452 00:19:47,520 --> 00:19:49,760 Speaker 1: what twenty nine cents rolled back off every gallon because 453 00:19:49,880 --> 00:19:52,359 Speaker 1: of a tax moratorium through part of the spring and summer. 454 00:19:52,560 --> 00:19:55,040 Speaker 1: But yeah, driving a more fuel efficient vehicle is actually 455 00:19:55,240 --> 00:19:58,240 Speaker 1: always a money saving move that folks can take advantage of. 456 00:19:58,320 --> 00:20:00,280 Speaker 1: And I feel like I'm seeing the bigger cars I see, 457 00:20:00,280 --> 00:20:02,159 Speaker 1: I'm like, oh, man, it hits you so much harder, 458 00:20:02,320 --> 00:20:05,080 Speaker 1: these gas prices. If you're driving something that gets, you know, 459 00:20:05,240 --> 00:20:07,680 Speaker 1: sixteen miles to the gallon versus a car that gets 460 00:20:07,760 --> 00:20:10,560 Speaker 1: more like thirty, it's gonna impact you in a completely 461 00:20:10,560 --> 00:20:13,159 Speaker 1: different way. And um, it actually looks like we're going 462 00:20:13,200 --> 00:20:15,480 Speaker 1: to be seeing more fuel efficient cars on the road 463 00:20:15,520 --> 00:20:18,080 Speaker 1: in the coming years, of course, but the National Highway 464 00:20:18,119 --> 00:20:22,120 Speaker 1: Traffic Safety Administration they announced requirements that new vehicles will 465 00:20:22,160 --> 00:20:24,760 Speaker 1: have to average at least forty miles of gallons starting 466 00:20:24,800 --> 00:20:28,240 Speaker 1: in That's an increase of twelve miles to the gallon 467 00:20:28,280 --> 00:20:31,439 Speaker 1: compared to what is required currently. Yeah, which is a 468 00:20:31,480 --> 00:20:34,199 Speaker 1: difference of two hundred and forty miles per fillip on 469 00:20:34,200 --> 00:20:36,840 Speaker 1: a twenty gallon tank, and with today's gas prices, that's 470 00:20:36,840 --> 00:20:39,600 Speaker 1: like a thirty five dollar difference every time you fill 471 00:20:39,640 --> 00:20:41,320 Speaker 1: up at the pump. I believe in California that's a 472 00:20:41,320 --> 00:20:44,000 Speaker 1: four difference every time you fill over them. Just a 473 00:20:44,080 --> 00:20:47,080 Speaker 1: joke California's But part part of this transition is obviously 474 00:20:47,080 --> 00:20:50,119 Speaker 1: going to involve electric cars. That writing has been on 475 00:20:50,119 --> 00:20:51,960 Speaker 1: the wall, and a lot of announcements have been made 476 00:20:52,200 --> 00:20:56,879 Speaker 1: about car manufacturers going to all electric cars by but 477 00:20:57,200 --> 00:20:59,760 Speaker 1: Toyota and General Motors they actually announced that they're working 478 00:20:59,840 --> 00:21:02,080 Speaker 1: on electric vehicles that are going to cost less than 479 00:21:02,119 --> 00:21:05,720 Speaker 1: thirty dollars. These aren't going to hit the streets until seven, 480 00:21:05,720 --> 00:21:08,560 Speaker 1: but we're talking about greater fuel economy electric vehicles are 481 00:21:08,600 --> 00:21:11,520 Speaker 1: obviously like the best version of that, and we're gonna 482 00:21:11,520 --> 00:21:14,560 Speaker 1: be seeing not just the fancy, higher end electric vehicles. 483 00:21:14,560 --> 00:21:16,120 Speaker 1: We've seen a lot of those, but we're gonna see 484 00:21:16,119 --> 00:21:18,080 Speaker 1: a lot more in kind of that budget range, which 485 00:21:18,080 --> 00:21:20,720 Speaker 1: I think is gonna help mass adoption, is going to 486 00:21:20,800 --> 00:21:23,280 Speaker 1: help curb all of our fuel costs in the long run. Yeah, 487 00:21:23,280 --> 00:21:25,560 Speaker 1: we need to see that like iPhone se version of 488 00:21:26,160 --> 00:21:28,760 Speaker 1: the e V. That's exactly right. Well, so another way 489 00:21:28,800 --> 00:21:31,040 Speaker 1: that you can try and avoid the staying of high 490 00:21:31,119 --> 00:21:34,119 Speaker 1: gas prices is by biking. Of course, we're gonna use 491 00:21:34,160 --> 00:21:36,600 Speaker 1: this opportunity to plug our love for bikes. But there 492 00:21:36,640 --> 00:21:39,520 Speaker 1: is an article over at Bike Portland that talked about 493 00:21:39,520 --> 00:21:42,800 Speaker 1: a guy who he's got this E cargo bike specifically 494 00:21:42,800 --> 00:21:45,080 Speaker 1: it's an E Bullet, which I will say it's a 495 00:21:45,160 --> 00:21:48,560 Speaker 1: very very nice bike. Dollar bike or something like that. Yeah, 496 00:21:48,560 --> 00:21:51,439 Speaker 1: like that rak and rival of the cost of a vehicle. Um, 497 00:21:51,520 --> 00:21:53,879 Speaker 1: but you know, like this guy, he's truly found the 498 00:21:53,880 --> 00:21:56,560 Speaker 1: winning combination that works for him. It's an E bike 499 00:21:56,840 --> 00:21:58,920 Speaker 1: and he's put over ten thousand miles on that bike 500 00:21:58,960 --> 00:22:01,440 Speaker 1: in the last two years that he's owned it, and 501 00:22:01,520 --> 00:22:04,240 Speaker 1: he's able to use solar powered charging stations. He's able 502 00:22:04,280 --> 00:22:06,680 Speaker 1: to use electric vehicle charging stations as well to top 503 00:22:06,720 --> 00:22:09,119 Speaker 1: off his battery while he's out riding around town. And 504 00:22:09,160 --> 00:22:11,920 Speaker 1: so we mentioned this because obviously this is not for everyone, 505 00:22:12,160 --> 00:22:14,159 Speaker 1: but it's just really cool to see that it is 506 00:22:14,200 --> 00:22:16,920 Speaker 1: possible to make it happen if you want to. Were 507 00:22:17,000 --> 00:22:20,439 Speaker 1: fans of even you know, just anybody riding any kind 508 00:22:20,440 --> 00:22:21,960 Speaker 1: of bike, whether or not it's a cargo bike or 509 00:22:21,960 --> 00:22:24,600 Speaker 1: just a regular bike. There are way more opportunities for 510 00:22:24,640 --> 00:22:26,640 Speaker 1: you to use your car less, especially when it comes 511 00:22:26,640 --> 00:22:29,639 Speaker 1: to running errands around town and maybe even some longer 512 00:22:29,680 --> 00:22:31,640 Speaker 1: errands like like taking the kids to school. That's something 513 00:22:31,640 --> 00:22:33,840 Speaker 1: that we are we've been lucky enough to be able 514 00:22:33,880 --> 00:22:35,639 Speaker 1: to do. Yeah. Well, I thought the coolest part of 515 00:22:35,640 --> 00:22:37,440 Speaker 1: the story what the fact that he is charging at 516 00:22:37,480 --> 00:22:40,840 Speaker 1: some of these e V charging stations, Like he's where 517 00:22:40,840 --> 00:22:42,840 Speaker 1: you go plug in your tesla, he's plugging in his 518 00:22:42,920 --> 00:22:45,080 Speaker 1: bike and it's because he's got this adapter that's like 519 00:22:45,080 --> 00:22:48,160 Speaker 1: a hundred eighty bucks and it allows him to basically 520 00:22:48,280 --> 00:22:50,199 Speaker 1: get that juice from from that station. And there are 521 00:22:50,200 --> 00:22:53,000 Speaker 1: a lot of free EV charging stations, so you know, 522 00:22:53,080 --> 00:22:55,040 Speaker 1: when he's biking as much as he is, he's got 523 00:22:55,040 --> 00:22:57,200 Speaker 1: to find places where he can top off when he's 524 00:22:57,240 --> 00:22:59,440 Speaker 1: not at home. And that's just so cool. Man. I 525 00:22:59,480 --> 00:23:01,680 Speaker 1: didn't even know that was a thing. You didn't hook 526 00:23:01,680 --> 00:23:04,920 Speaker 1: your bike up to an electric vehicle charger. So more 527 00:23:04,920 --> 00:23:07,240 Speaker 1: power to this guy Sean in Portland who was just 528 00:23:07,280 --> 00:23:10,160 Speaker 1: like crushing thousands of miles on that bike and charging 529 00:23:10,280 --> 00:23:12,200 Speaker 1: probably for free a lot of times. Yeah. Well, I 530 00:23:12,200 --> 00:23:14,440 Speaker 1: think his daily commute involves like thousands of feet in 531 00:23:14,560 --> 00:23:18,639 Speaker 1: elevation change. Yeah, as well, which was like mind blowing. Obviously, 532 00:23:18,760 --> 00:23:21,720 Speaker 1: if you're at a like a flatter city, biking without 533 00:23:21,840 --> 00:23:24,000 Speaker 1: the assist is going to be much more doable. But 534 00:23:24,040 --> 00:23:26,040 Speaker 1: I just found that to be pretty incredible as well, 535 00:23:26,040 --> 00:23:27,760 Speaker 1: that that it is possible even if you live in 536 00:23:27,760 --> 00:23:30,480 Speaker 1: a more mountainous region. I'm sure that guy, even though 537 00:23:30,480 --> 00:23:32,399 Speaker 1: he's riding an e bike, has caps of steel, is 538 00:23:32,440 --> 00:23:35,119 Speaker 1: my guests. But Matt, similarly, you know, we've seen the 539 00:23:35,200 --> 00:23:38,680 Speaker 1: rise of more folks buying and using not just electric bikes, 540 00:23:38,680 --> 00:23:41,520 Speaker 1: although those have been those sales have been through the roof, 541 00:23:41,560 --> 00:23:44,399 Speaker 1: but electric scooters are another way that people are choosing 542 00:23:44,440 --> 00:23:47,520 Speaker 1: to get around. And there's a Miami based scooter company 543 00:23:47,520 --> 00:23:50,960 Speaker 1: that's reporting seventy higher sales last month than they had 544 00:23:51,040 --> 00:23:53,720 Speaker 1: just a year ago. So yeah, it's no surprise. Obviously 545 00:23:53,760 --> 00:23:56,240 Speaker 1: given the cost of gas, people are looking to other 546 00:23:56,359 --> 00:23:59,359 Speaker 1: ways to get around, especially on some of those shorter trips. 547 00:23:59,400 --> 00:24:02,400 Speaker 1: But also it's not just the cost of gas, it's 548 00:24:02,400 --> 00:24:04,560 Speaker 1: the cost of cars. So if you're like listen, I 549 00:24:04,680 --> 00:24:06,800 Speaker 1: kind of need a new car, or like you, you 550 00:24:06,880 --> 00:24:10,560 Speaker 1: might instead opt for some sort of alternative vehicle because 551 00:24:10,880 --> 00:24:12,919 Speaker 1: that is going to save you not just money at 552 00:24:12,920 --> 00:24:15,400 Speaker 1: the pump, but also on buying an expensive new car 553 00:24:15,680 --> 00:24:18,000 Speaker 1: or use car. But yeah, we just again want to 554 00:24:18,040 --> 00:24:21,240 Speaker 1: encourage folks to consider these alternative forms of transportation, whether 555 00:24:21,280 --> 00:24:23,720 Speaker 1: it is a scooter, whether it's a traditional bike, whether 556 00:24:23,760 --> 00:24:26,080 Speaker 1: it's an e mike. You know, everyone has their own 557 00:24:26,080 --> 00:24:27,600 Speaker 1: breaking point when it comes to the cost of a 558 00:24:27,640 --> 00:24:30,280 Speaker 1: car or cost at the pump, but eventually you have 559 00:24:30,320 --> 00:24:32,679 Speaker 1: to look at what it's actually costing you instead of 560 00:24:32,720 --> 00:24:34,840 Speaker 1: just like eating it and accepting it or letting it 561 00:24:34,880 --> 00:24:36,840 Speaker 1: bust your budget. And so we actually, you know, we 562 00:24:36,920 --> 00:24:40,560 Speaker 1: spend an entire episode talking about how it's incredibly possible 563 00:24:40,600 --> 00:24:42,920 Speaker 1: for so many people to drop a car from their household. 564 00:24:42,920 --> 00:24:45,480 Speaker 1: That was episode two forty two. We called it no car, 565 00:24:45,560 --> 00:24:48,040 Speaker 1: no problem, And I think there are a lot of people, 566 00:24:48,160 --> 00:24:51,280 Speaker 1: especially in this work from homeage, and especially with how 567 00:24:51,359 --> 00:24:54,360 Speaker 1: much better these scooters and bikes have gotten in just 568 00:24:54,480 --> 00:24:57,439 Speaker 1: recent years, who could become one car families. Um, they 569 00:24:57,440 --> 00:24:59,679 Speaker 1: could ditch at least one car from their life, or 570 00:24:59,680 --> 00:25:03,000 Speaker 1: they can Philip's pump less because they are using their scooter, 571 00:25:03,080 --> 00:25:05,520 Speaker 1: or they're bike more frequently. These are just things to consider, 572 00:25:05,640 --> 00:25:08,840 Speaker 1: especially as the costs are just like skyrocketing through the roof. 573 00:25:08,920 --> 00:25:10,800 Speaker 1: That's right, So we'll make sure to link to all 574 00:25:10,800 --> 00:25:13,800 Speaker 1: the different stories that we mentioned during this episode. You 575 00:25:13,800 --> 00:25:16,639 Speaker 1: can look forward to a fresh episode lending here on Monday. 576 00:25:16,640 --> 00:25:18,960 Speaker 1: We're speaking with friends of the show, Nick m Julie 577 00:25:19,280 --> 00:25:22,000 Speaker 1: about investing. We talked about investing this past Wednesday, and 578 00:25:22,000 --> 00:25:24,199 Speaker 1: we're gonna continue that conversation a little bit more with 579 00:25:24,280 --> 00:25:26,480 Speaker 1: him here on Monday. Uh, so you can look forward 580 00:25:26,520 --> 00:25:29,080 Speaker 1: to that. We hope everyone has a great weekend in Joel. 581 00:25:29,280 --> 00:25:32,280 Speaker 1: Until next time, Best Friends Out, Best Friends Out.