1 00:00:00,040 --> 00:00:03,040 Speaker 1: Welcome to How the Money. I'm Joel and I and Matt. 2 00:00:03,360 --> 00:00:26,040 Speaker 1: Today we're discussing cash, debit or credit Joel Man, this 3 00:00:26,120 --> 00:00:28,000 Speaker 1: is sort of one of those age old questions. It's 4 00:00:28,000 --> 00:00:29,600 Speaker 1: like paper or plastics. You know, you're like at the 5 00:00:29,600 --> 00:00:31,960 Speaker 1: grocery store, they're going to ask you what kind of 6 00:00:32,000 --> 00:00:33,800 Speaker 1: bag you want to use? This is the question that 7 00:00:33,800 --> 00:00:36,159 Speaker 1: we ask ourselves, whether we realize it or not. This 8 00:00:36,200 --> 00:00:38,120 Speaker 1: is the choice that we make pretty much every day 9 00:00:38,159 --> 00:00:40,640 Speaker 1: of our lives when we make purchases. So yeah, we're 10 00:00:40,680 --> 00:00:42,720 Speaker 1: not always actively thinking about it. Oh I think I'm 11 00:00:42,720 --> 00:00:46,120 Speaker 1: gonna use this form of purchasing today, but it is 12 00:00:46,159 --> 00:00:48,360 Speaker 1: something that we have to think about. And there are 13 00:00:48,560 --> 00:00:51,199 Speaker 1: different benefits, different pitfalls to each one, and so we 14 00:00:51,240 --> 00:00:53,920 Speaker 1: have to discuss those and I think hopefully people at 15 00:00:53,960 --> 00:00:56,120 Speaker 1: the end of this will have a better idea of 16 00:00:56,280 --> 00:00:59,240 Speaker 1: how they should be making their purchases, whether it's with cash, 17 00:00:59,320 --> 00:01:02,280 Speaker 1: debit or credit cards exactly. But before we get into that, Matt, 18 00:01:02,480 --> 00:01:04,880 Speaker 1: I think we should talk quickly. You and I we 19 00:01:04,920 --> 00:01:08,320 Speaker 1: had little dudes recently and they are a few months 20 00:01:08,360 --> 00:01:11,120 Speaker 1: old now. It's been a fun time also a time 21 00:01:11,160 --> 00:01:13,920 Speaker 1: of very little sleep. But one thing that we need 22 00:01:13,959 --> 00:01:17,080 Speaker 1: to do. As you know, we have expanded our families, 23 00:01:17,440 --> 00:01:19,560 Speaker 1: and that other people should think about as they go 24 00:01:19,640 --> 00:01:22,600 Speaker 1: through big life changes. Is like kind of questioning how 25 00:01:22,720 --> 00:01:25,039 Speaker 1: much life insurance you have and whether it's enough. We 26 00:01:25,120 --> 00:01:28,160 Speaker 1: cover this topic quite a while back, but it's important 27 00:01:28,160 --> 00:01:31,120 Speaker 1: to consider potentially laddering your life insurance. Let's say you 28 00:01:31,160 --> 00:01:34,480 Speaker 1: already have a policy, but you feel like you need more. Well, 29 00:01:34,959 --> 00:01:37,720 Speaker 1: when you have in addition to your family, that usually 30 00:01:37,760 --> 00:01:40,920 Speaker 1: means increased costs, and that might mean a need for 31 00:01:41,080 --> 00:01:43,959 Speaker 1: increased insurance coverage. And so I don't know about you, 32 00:01:44,120 --> 00:01:46,880 Speaker 1: I'm revisiting the topic. I feel like actually probably already 33 00:01:46,880 --> 00:01:49,480 Speaker 1: had too little to begin with, and so I'm planning 34 00:01:49,480 --> 00:01:51,880 Speaker 1: on kind of shopping for another policy to kind of 35 00:01:51,960 --> 00:01:54,920 Speaker 1: ladder so that my family has enough coverage in case 36 00:01:55,040 --> 00:01:59,120 Speaker 1: the terrible, unfortunate event happens of me passing away early. 37 00:01:59,480 --> 00:02:02,360 Speaker 1: Nice man, Yeah, this is an excellent time to revisit 38 00:02:02,440 --> 00:02:05,360 Speaker 1: the kind of insurance that we have. And specifically, like 39 00:02:05,400 --> 00:02:09,120 Speaker 1: you and I, we both have term life insurance. For me. Specifically, 40 00:02:09,120 --> 00:02:11,560 Speaker 1: my policy is good until I'm fifty two years old, 41 00:02:11,800 --> 00:02:14,640 Speaker 1: and so I'm hoping, you know, fingers crossed that by then, 42 00:02:15,360 --> 00:02:17,760 Speaker 1: I might be financially independent. That actually might be an 43 00:02:17,760 --> 00:02:21,880 Speaker 1: instance when a life insurance policy may not be as crucial, right, 44 00:02:21,919 --> 00:02:24,280 Speaker 1: because if you're financially independent, you don't need your own 45 00:02:24,320 --> 00:02:26,919 Speaker 1: source of income to provide income for your family where 46 00:02:26,919 --> 00:02:28,320 Speaker 1: you did not be there. Yeah, and I wrote an 47 00:02:28,360 --> 00:02:29,960 Speaker 1: article about this, it's on the website. Will link to 48 00:02:29,960 --> 00:02:32,400 Speaker 1: it in the show notes. Specifically, the reason to buy 49 00:02:32,680 --> 00:02:35,600 Speaker 1: term life insurance is for replacement of income, and so 50 00:02:35,680 --> 00:02:39,760 Speaker 1: people oftentimes use it for other reasons that aren't necessary. 51 00:02:39,960 --> 00:02:42,960 Speaker 1: And yes, in particular, if you're financially independent, you don't 52 00:02:43,240 --> 00:02:46,520 Speaker 1: really need life insurance because you don't have income that 53 00:02:46,560 --> 00:02:49,839 Speaker 1: needs replacing. But yeah, I think especially I just want 54 00:02:49,840 --> 00:02:51,880 Speaker 1: people to think about this. As you know, we just 55 00:02:51,960 --> 00:02:55,440 Speaker 1: had these life event changes. And I think any time 56 00:02:55,520 --> 00:02:58,560 Speaker 1: you get married, you change jobs in your income is different, 57 00:02:58,960 --> 00:03:01,640 Speaker 1: or you move even to a new house and the 58 00:03:01,720 --> 00:03:05,240 Speaker 1: mortgage payments are higher, or you have another child, like 59 00:03:05,280 --> 00:03:06,799 Speaker 1: these are the kind of events that you at least 60 00:03:06,840 --> 00:03:09,440 Speaker 1: need to reassess. It doesn't necessarily mean you need more 61 00:03:09,760 --> 00:03:11,200 Speaker 1: or you need to buy a new policy. And one 62 00:03:11,200 --> 00:03:13,560 Speaker 1: other quick thing to mention too, is that if you 63 00:03:13,600 --> 00:03:16,640 Speaker 1: have a policy through your employer, well in all likelihood, 64 00:03:17,160 --> 00:03:19,560 Speaker 1: it's not enough. If you just went through open enrollment 65 00:03:19,600 --> 00:03:22,320 Speaker 1: and you think that you're solid because your employer offers 66 00:03:22,360 --> 00:03:25,040 Speaker 1: a certain amount of life insurance just straight up to 67 00:03:25,120 --> 00:03:27,440 Speaker 1: you for free or for for a certain amount of money, 68 00:03:27,639 --> 00:03:30,680 Speaker 1: well it's probably not enough coverage. Think about it, do 69 00:03:30,800 --> 00:03:33,400 Speaker 1: the research, read that article, and make sure that you 70 00:03:33,480 --> 00:03:37,520 Speaker 1: are properly insured, because that's really important. It's it's really 71 00:03:37,640 --> 00:03:39,920 Speaker 1: cheap to write. Term life insurance is so dirt cheap 72 00:03:39,960 --> 00:03:42,360 Speaker 1: now there's just not much of an excuse to avoid 73 00:03:42,360 --> 00:03:44,600 Speaker 1: getting it. Well, that's the thing. It may not necessarily 74 00:03:44,600 --> 00:03:46,920 Speaker 1: be cheap for us now because I mean, I'm ten 75 00:03:47,000 --> 00:03:49,120 Speaker 1: years older than when I got my first policy, but 76 00:03:49,160 --> 00:03:51,960 Speaker 1: when you're younger, it is it's very affordable. Term life 77 00:03:52,000 --> 00:03:53,880 Speaker 1: is it's very affordable. It's something along the lines of 78 00:03:53,920 --> 00:03:56,960 Speaker 1: thirty bucks a month. It does increase every year you 79 00:03:57,000 --> 00:03:59,680 Speaker 1: get older. So I am very curious to see what 80 00:03:59,840 --> 00:04:01,200 Speaker 1: the rates are going to be if I were to 81 00:04:01,240 --> 00:04:03,800 Speaker 1: kind of attack on some additional coverage sort of in 82 00:04:03,800 --> 00:04:05,600 Speaker 1: in our case, I think we'd be looking at layering 83 00:04:05,640 --> 00:04:08,720 Speaker 1: instead of laddering more for the short term now when 84 00:04:08,800 --> 00:04:11,440 Speaker 1: we would definitely need it. Um and you know, Another 85 00:04:11,480 --> 00:04:14,760 Speaker 1: instance to consider beefing up your coverage is if your 86 00:04:14,760 --> 00:04:17,600 Speaker 1: borderline cheap and not frugal, and if maybe skimmed out 87 00:04:17,600 --> 00:04:19,640 Speaker 1: a little bit too much on the front end. You know, 88 00:04:19,680 --> 00:04:21,719 Speaker 1: you kind of mentioned that. I think that's where we 89 00:04:21,760 --> 00:04:23,120 Speaker 1: are with it now as well. And it's not that 90 00:04:23,160 --> 00:04:25,520 Speaker 1: we were necessarily being cheap at the time. I didn't 91 00:04:25,520 --> 00:04:27,039 Speaker 1: think I was being cheap when I as when you 92 00:04:27,080 --> 00:04:28,800 Speaker 1: got it, you didn't have any kids exactly, We didn't, well, 93 00:04:28,800 --> 00:04:30,800 Speaker 1: we didn't have any kids. We also, you know, we 94 00:04:30,880 --> 00:04:33,720 Speaker 1: had one property at that point, we were pretty young. 95 00:04:33,760 --> 00:04:36,800 Speaker 1: We didn't we had fewer expenses. Your circumstances have changed 96 00:04:36,800 --> 00:04:40,160 Speaker 1: and changed another look, yeah, they have changed significantly. And 97 00:04:40,200 --> 00:04:41,479 Speaker 1: so if that's the case for you, that you know, 98 00:04:41,520 --> 00:04:43,000 Speaker 1: that's what you want to keep in mind, and you're 99 00:04:43,040 --> 00:04:44,960 Speaker 1: looking at the different types of coverage out there. Yeah, 100 00:04:45,040 --> 00:04:47,040 Speaker 1: I might have been a touch cheap, like it touched 101 00:04:47,080 --> 00:04:49,440 Speaker 1: not not thinking about it as long term as I 102 00:04:49,480 --> 00:04:51,920 Speaker 1: should have. And at the same time, also my circumstances 103 00:04:51,960 --> 00:04:54,080 Speaker 1: have changed a good bit and so for both reasons, 104 00:04:54,360 --> 00:04:57,560 Speaker 1: it's time to revisit. But okay, Matt, enough about life insurance. 105 00:04:57,720 --> 00:05:00,640 Speaker 1: Love talking term life insurance. So cheap, so beautiful. But 106 00:05:00,680 --> 00:05:02,400 Speaker 1: you know what else is beautiful with the label on 107 00:05:02,480 --> 00:05:06,200 Speaker 1: this beer, we're checking Bourbon Barrel Orro Negro from Jackie 108 00:05:06,200 --> 00:05:09,200 Speaker 1: O's our final beer that they sent us. And man, 109 00:05:09,279 --> 00:05:11,720 Speaker 1: this one I'm really excited about having on the show today. 110 00:05:12,000 --> 00:05:13,520 Speaker 1: And we'll give our thoughts on this one at the 111 00:05:13,560 --> 00:05:15,520 Speaker 1: end of the episode and before we forget. If you 112 00:05:15,560 --> 00:05:18,640 Speaker 1: happen to be anywhere near Athens, Ohio and you're into beer, 113 00:05:19,120 --> 00:05:22,120 Speaker 1: you can't miss Jackie Os. Make sure you swing by there. Dude, 114 00:05:22,120 --> 00:05:25,039 Speaker 1: I know that if we go anywhere near Ohio and 115 00:05:25,200 --> 00:05:28,280 Speaker 1: the near future, we are totally going to spend like 116 00:05:28,320 --> 00:05:30,400 Speaker 1: a few days. They're just hanging out with us. Guys. 117 00:05:30,480 --> 00:05:32,760 Speaker 1: You I already know that this brewery is worth a 118 00:05:32,800 --> 00:05:35,480 Speaker 1: long distance drive because the beers are so good and 119 00:05:35,520 --> 00:05:37,400 Speaker 1: that people are so good there. All right, Matt, let's 120 00:05:37,440 --> 00:05:39,799 Speaker 1: get onto the topic at hand. We're talking about cash, debit, 121 00:05:40,000 --> 00:05:44,000 Speaker 1: or credit. It's important to consider how we pay. How 122 00:05:44,040 --> 00:05:47,040 Speaker 1: we pay for things has a lot of implications for us. 123 00:05:47,480 --> 00:05:50,480 Speaker 1: Some payment methods are more secure than others, Some provide 124 00:05:50,520 --> 00:05:53,280 Speaker 1: better rewards peace of mind, or or might even cause 125 00:05:53,360 --> 00:05:56,400 Speaker 1: us to spend less of our money. Are hard earned money. 126 00:05:56,440 --> 00:05:59,599 Speaker 1: So how can we know whether we should be pulling 127 00:05:59,600 --> 00:06:02,000 Speaker 1: out debit card or a credit card, or should we 128 00:06:02,040 --> 00:06:04,520 Speaker 1: even stick to using cash. It's kind of old school, 129 00:06:04,520 --> 00:06:07,160 Speaker 1: but that's how a lot of people roll right. Cash 130 00:06:07,160 --> 00:06:10,360 Speaker 1: seems to help them stick to their spending plans. Well, 131 00:06:10,400 --> 00:06:12,480 Speaker 1: we're going to discuss the pros and the cons and 132 00:06:12,520 --> 00:06:15,600 Speaker 1: why how you pay is so important in this episode. Yeah, 133 00:06:15,680 --> 00:06:17,920 Speaker 1: before we launch into you know that the cash, debit 134 00:06:18,000 --> 00:06:20,520 Speaker 1: or credit debates. How about you know the different apps 135 00:06:20,520 --> 00:06:24,080 Speaker 1: out there, right, the mobile payment platforms like zel or, 136 00:06:24,200 --> 00:06:27,440 Speaker 1: Venmo and cash app. Those folks are blowing up, man. 137 00:06:27,520 --> 00:06:29,680 Speaker 1: It is so easy to pay for goods and services 138 00:06:30,080 --> 00:06:32,599 Speaker 1: and to just settle up with friends via those apps. 139 00:06:32,640 --> 00:06:36,559 Speaker 1: I personally use Venomo, cash App and PayPal all the time. 140 00:06:36,680 --> 00:06:38,640 Speaker 1: Like seriously on the rag and Joel, you know you 141 00:06:38,680 --> 00:06:41,599 Speaker 1: mentioned the differing amounts of security, Like all these different apps. 142 00:06:41,600 --> 00:06:44,560 Speaker 1: They use the highest level of encryption to ensure you 143 00:06:44,600 --> 00:06:46,840 Speaker 1: know that their apps are secure, so your money doesn't 144 00:06:46,880 --> 00:06:49,560 Speaker 1: just straight up and vanish, right. That is no fun 145 00:06:50,080 --> 00:06:52,200 Speaker 1: vanishing money like that sucks, but at least you have 146 00:06:52,240 --> 00:06:55,520 Speaker 1: a good story. Right. However, though, there are almost no 147 00:06:55,640 --> 00:06:59,000 Speaker 1: protections for you if you make a user error if 148 00:06:59,000 --> 00:07:01,080 Speaker 1: you send money to the wrong person. Right, So if 149 00:07:01,080 --> 00:07:03,360 Speaker 1: you just send it to the wrong gym on the app, man, 150 00:07:03,400 --> 00:07:06,640 Speaker 1: you are out of luck. I recently mentioned my Venomo 151 00:07:06,880 --> 00:07:10,160 Speaker 1: mistake and that's exactly what happened to me. But luckily 152 00:07:10,320 --> 00:07:13,000 Speaker 1: the person on the other end was kind enough to 153 00:07:13,080 --> 00:07:15,120 Speaker 1: refund me. But here's the thing, if you are a 154 00:07:15,160 --> 00:07:19,840 Speaker 1: recipient of some errant funds, don't immediately refund that money 155 00:07:19,880 --> 00:07:22,200 Speaker 1: because there's a chance you might be, you know, the 156 00:07:22,240 --> 00:07:25,200 Speaker 1: potential victim of some frauds. So you know, we would 157 00:07:25,200 --> 00:07:27,960 Speaker 1: recommend for you to reach out to customer support of 158 00:07:28,080 --> 00:07:30,200 Speaker 1: that specific app. You just want to make sure things 159 00:07:30,200 --> 00:07:32,400 Speaker 1: around the up and up before you send money back 160 00:07:32,440 --> 00:07:35,480 Speaker 1: their way. Yeah. I mean, the thing is with with 161 00:07:35,520 --> 00:07:37,720 Speaker 1: those apps, it takes a couple of days for the 162 00:07:37,720 --> 00:07:39,680 Speaker 1: money to actually go through. It looks like you just 163 00:07:39,720 --> 00:07:41,680 Speaker 1: got the money, but it actually hasn't hit your account 164 00:07:41,680 --> 00:07:44,800 Speaker 1: for a couple of days typically, and so because of that, 165 00:07:45,120 --> 00:07:47,160 Speaker 1: the person that paid you the money could stop the 166 00:07:47,160 --> 00:07:49,640 Speaker 1: payment with their bank, and that means you never actually 167 00:07:49,680 --> 00:07:51,280 Speaker 1: got the money even though it looks like you did. 168 00:07:51,560 --> 00:07:53,800 Speaker 1: So those apps are fantastic for a lot of reasons. 169 00:07:54,000 --> 00:07:56,920 Speaker 1: They made things so much easier, especially settling up bills 170 00:07:56,920 --> 00:07:59,880 Speaker 1: between friends, paying a landlord for your rent, or all 171 00:07:59,880 --> 00:08:03,040 Speaker 1: these ways that these apps have just kind of really 172 00:08:03,080 --> 00:08:04,840 Speaker 1: helped to make it easier for us to send money 173 00:08:04,880 --> 00:08:08,160 Speaker 1: to each other. But be careful of paying the wrong person, 174 00:08:08,440 --> 00:08:11,960 Speaker 1: or be careful if you mistakenly received funds to Matt, 175 00:08:12,000 --> 00:08:14,960 Speaker 1: that's a good point, all right. Let's get into cash, debit, 176 00:08:15,000 --> 00:08:18,040 Speaker 1: and credit in particular. Let's start with cash. Matt, it's 177 00:08:18,040 --> 00:08:20,280 Speaker 1: so old school, man. People still use cash though, right. 178 00:08:20,320 --> 00:08:22,520 Speaker 1: Do you carry cash in your wallet typically on like 179 00:08:22,560 --> 00:08:24,840 Speaker 1: a daily basis. I always try to keep a twenty 180 00:08:24,880 --> 00:08:26,880 Speaker 1: in there. I'm kind of an old school in that sense, 181 00:08:27,000 --> 00:08:28,920 Speaker 1: you know, don't like Dad's always care around like it's 182 00:08:28,920 --> 00:08:31,160 Speaker 1: twenty in your wallet just just in case for emergencies. Yeah, 183 00:08:31,160 --> 00:08:33,880 Speaker 1: for sure, that's me. Yeah. I like to carry like 184 00:08:33,960 --> 00:08:36,040 Speaker 1: a five and a few ones if you need a 185 00:08:36,080 --> 00:08:38,800 Speaker 1: tip for something random or I don't know, just it's 186 00:08:38,880 --> 00:08:40,840 Speaker 1: nice to have a few bucks on hand. But for 187 00:08:40,880 --> 00:08:44,720 Speaker 1: the most part, man, I don't really use cash for 188 00:08:44,840 --> 00:08:47,240 Speaker 1: It's kind of like that backup for me in my wallet, 189 00:08:47,240 --> 00:08:50,600 Speaker 1: but it's not something I typically make purchases with. Ye 190 00:08:50,760 --> 00:08:53,720 Speaker 1: back up only for sure. Yeah, because ultimately there aren't 191 00:08:53,720 --> 00:08:55,920 Speaker 1: any rewards to be earned when we pay with cash 192 00:08:56,040 --> 00:08:59,920 Speaker 1: unless a store offers a cash discount, which is also rare. 193 00:09:00,280 --> 00:09:03,640 Speaker 1: So the biggest benefit though, of paying in cash is 194 00:09:03,640 --> 00:09:05,960 Speaker 1: that you'll likely spend less. Study show that we have 195 00:09:05,960 --> 00:09:08,440 Speaker 1: a harder time parting with physical currency than we do 196 00:09:08,640 --> 00:09:10,600 Speaker 1: paying with plastic. It just kind of hurts a little 197 00:09:10,600 --> 00:09:13,079 Speaker 1: more to actually open up your wality, your purse, pull 198 00:09:13,160 --> 00:09:15,560 Speaker 1: the cash out and hand it over. There's just a 199 00:09:15,600 --> 00:09:19,200 Speaker 1: feeling that we get that psychologically it means more to 200 00:09:19,320 --> 00:09:21,440 Speaker 1: us than the swipe of the card. It almost feels 201 00:09:21,440 --> 00:09:23,120 Speaker 1: like we're not actually spending money when we do that. 202 00:09:23,480 --> 00:09:27,839 Speaker 1: So basically, the major upside of us actually using more 203 00:09:27,920 --> 00:09:29,800 Speaker 1: cash in our lives to pay for things is a 204 00:09:29,840 --> 00:09:33,719 Speaker 1: behavioral one. It's a behavior modification system of payment that 205 00:09:33,760 --> 00:09:36,520 Speaker 1: forces us to think a little bit more before we 206 00:09:36,559 --> 00:09:39,240 Speaker 1: actually go through with the purchase. So yeah, I think 207 00:09:39,280 --> 00:09:42,840 Speaker 1: that is probably the biggest reason to actually pay with 208 00:09:42,880 --> 00:09:45,120 Speaker 1: cash a little more often. Is that sort of double 209 00:09:45,120 --> 00:09:48,000 Speaker 1: take that we have to do before we actually buy something. Yeah, 210 00:09:48,000 --> 00:09:50,960 Speaker 1: and Joe, And another awesome benefit of only using cash 211 00:09:51,120 --> 00:09:53,160 Speaker 1: is that it can help us to stick to a 212 00:09:53,160 --> 00:09:55,520 Speaker 1: budget if you know, if you have a set amount 213 00:09:55,600 --> 00:09:58,440 Speaker 1: of money that you've decided to spend on let's just 214 00:09:58,480 --> 00:10:01,880 Speaker 1: say craft beer in our example, my favorite example, then 215 00:10:02,040 --> 00:10:04,320 Speaker 1: once you run out of cash, guess what you are 216 00:10:04,440 --> 00:10:08,800 Speaker 1: done spending money. This is especially helpful for discretionary purchases 217 00:10:08,880 --> 00:10:12,040 Speaker 1: like going out for drinks, eating out, and even groceries. 218 00:10:12,160 --> 00:10:14,080 Speaker 1: Right sometimes it can be tempting if we see some 219 00:10:14,120 --> 00:10:16,840 Speaker 1: delicious looking fruit or veggies, maybe it's time to load up. 220 00:10:17,000 --> 00:10:19,920 Speaker 1: Or ice cream bacon bacons on sale. Man, you buy 221 00:10:19,920 --> 00:10:22,320 Speaker 1: that and freeze it. But paying in cash means that 222 00:10:22,360 --> 00:10:25,480 Speaker 1: you only buy stuff that you can actually afford, and 223 00:10:25,559 --> 00:10:28,200 Speaker 1: it also ensures that you won't pay interest on the 224 00:10:28,240 --> 00:10:30,960 Speaker 1: items that you buy where you to buy those items 225 00:10:31,040 --> 00:10:34,559 Speaker 1: on credit. But cash also has kind of an ugly downside. 226 00:10:35,080 --> 00:10:37,480 Speaker 1: You could lose your wallet because you're carrying too much 227 00:10:37,520 --> 00:10:39,960 Speaker 1: cash around, and that can be a bit nerve wracking. 228 00:10:40,160 --> 00:10:42,440 Speaker 1: A lot of folks love the envelope system, kind of 229 00:10:42,480 --> 00:10:45,920 Speaker 1: putting your money into envelopes for the specific line items 230 00:10:45,920 --> 00:10:48,360 Speaker 1: in your budget, and then when you run out of cash, 231 00:10:48,679 --> 00:10:50,720 Speaker 1: you run out of cash and you don't have any 232 00:10:50,720 --> 00:10:52,920 Speaker 1: money left for the rest of the month. But I 233 00:10:52,960 --> 00:10:56,439 Speaker 1: can't really imagine carrying around hundreds of dollars in cash myself, 234 00:10:56,520 --> 00:11:00,280 Speaker 1: Matt to the grocery store wherever I'm going, and it 235 00:11:00,360 --> 00:11:02,800 Speaker 1: just seems a little cumbersome, and also just having that 236 00:11:02,920 --> 00:11:06,240 Speaker 1: much cash on your person. I just don't like that idea. So, really, 237 00:11:06,280 --> 00:11:08,679 Speaker 1: if we're going to get practical with it, we purchased 238 00:11:08,720 --> 00:11:11,360 Speaker 1: so many things online today that it makes it kind 239 00:11:11,360 --> 00:11:14,599 Speaker 1: of impossible to use cash for a lot of those purchases. 240 00:11:14,760 --> 00:11:17,320 Speaker 1: It's just not convenient, and so I think because of 241 00:11:17,360 --> 00:11:21,120 Speaker 1: those reasons, using cash is helpful for a small segment 242 00:11:21,120 --> 00:11:24,920 Speaker 1: of people, but isn't necessarily a great solution for most folks. Yeah, 243 00:11:24,920 --> 00:11:27,040 Speaker 1: shopping online, man, I would love to know the actual 244 00:11:27,040 --> 00:11:30,320 Speaker 1: percentage of Americans who do some form of shopping online. 245 00:11:30,360 --> 00:11:32,560 Speaker 1: It's got to be huge, right, Oh, yeah, at least 246 00:11:32,559 --> 00:11:35,360 Speaker 1: some form a huge percentage of us. A majority of 247 00:11:35,360 --> 00:11:38,440 Speaker 1: our money is still overwhelmingly spent in retail stores, but 248 00:11:38,480 --> 00:11:41,440 Speaker 1: it's shifting quickly. And so those folks who are typically 249 00:11:41,480 --> 00:11:43,960 Speaker 1: using cash but do want to make online purchases, a 250 00:11:43,960 --> 00:11:46,720 Speaker 1: lot of those folks are using debit cards because of 251 00:11:46,720 --> 00:11:49,840 Speaker 1: that convenience, because they can actually make those purchases online. 252 00:11:49,960 --> 00:11:51,640 Speaker 1: So we're gonna talk about debit cards and what we 253 00:11:51,760 --> 00:12:03,720 Speaker 1: really think about them right after the break. All right, Matt, 254 00:12:03,960 --> 00:12:06,360 Speaker 1: let's get into it. What do we really think of 255 00:12:06,400 --> 00:12:09,120 Speaker 1: debit cards? Most people seem to kind of have a 256 00:12:09,160 --> 00:12:11,959 Speaker 1: high view of debit cards. They're basically like credit cards. 257 00:12:12,120 --> 00:12:15,160 Speaker 1: There's no real difference. So I feel more comfortable using 258 00:12:15,160 --> 00:12:17,520 Speaker 1: my debit card. Why not? I think a lot of 259 00:12:17,640 --> 00:12:20,320 Speaker 1: folks think that by using these debit cards they're gonna 260 00:12:20,400 --> 00:12:23,400 Speaker 1: gain that convenience of paying in plastic and the ability 261 00:12:23,440 --> 00:12:25,920 Speaker 1: to shop online, which is true. But folks think that 262 00:12:25,920 --> 00:12:28,480 Speaker 1: with debit cards they have the same level of security 263 00:12:28,520 --> 00:12:32,000 Speaker 1: that they have with credit cards, and this is not true, 264 00:12:32,320 --> 00:12:34,120 Speaker 1: and that, in my mind, is the biggest reason why 265 00:12:34,160 --> 00:12:37,640 Speaker 1: debit cards are not a great option for folks. Specifically, 266 00:12:37,640 --> 00:12:40,760 Speaker 1: those protections that are offered to you when you pay 267 00:12:40,840 --> 00:12:43,320 Speaker 1: with a credit card. There's so much better than the 268 00:12:43,360 --> 00:12:46,160 Speaker 1: protections that you have when you pay with a debit card. Yeah. Man, 269 00:12:46,200 --> 00:12:48,680 Speaker 1: if you don't report a fraudulent purchase with your debit 270 00:12:48,720 --> 00:12:51,080 Speaker 1: card within two days of it occurring, you could be 271 00:12:51,120 --> 00:12:53,640 Speaker 1: on the hook for up to fifty dollars right if 272 00:12:53,640 --> 00:12:56,320 Speaker 1: you do happen to notice it within sixty days, you 273 00:12:56,320 --> 00:12:59,440 Speaker 1: could be liable for up to five in charges. But 274 00:12:59,480 --> 00:13:02,480 Speaker 1: if you don't noticed that fraud within sixty days or longer, 275 00:13:02,920 --> 00:13:05,679 Speaker 1: you could lose all of your money. I can guarantee 276 00:13:05,720 --> 00:13:08,800 Speaker 1: you that the protections that credit cards offer are much 277 00:13:08,880 --> 00:13:12,480 Speaker 1: better than that. Yeah, Matt our friend Kenzie, she recently 278 00:13:12,559 --> 00:13:15,520 Speaker 1: had her purse stolen and her debit card taken out 279 00:13:15,559 --> 00:13:17,320 Speaker 1: and someone started using it as a way. I didn't 280 00:13:17,320 --> 00:13:18,760 Speaker 1: know this, yeah, as if they were her she she 281 00:13:18,800 --> 00:13:21,680 Speaker 1: posted in our Facebook group about it, and you know what, 282 00:13:21,800 --> 00:13:25,199 Speaker 1: a debit card just doesn't have the same protections. Fortunately, 283 00:13:25,440 --> 00:13:28,360 Speaker 1: she notified the bank immediately within that two day period. 284 00:13:28,600 --> 00:13:30,440 Speaker 1: But if you didn't notice right away, and you didn't 285 00:13:30,480 --> 00:13:33,120 Speaker 1: notify your bank, like you said, that timeline just kind 286 00:13:33,120 --> 00:13:36,160 Speaker 1: of grows, and every day that you wait, basically, the 287 00:13:36,440 --> 00:13:38,400 Speaker 1: more you can be on the hook for. And it's 288 00:13:38,440 --> 00:13:40,920 Speaker 1: also money that's been taken out of your account that 289 00:13:40,920 --> 00:13:43,400 Speaker 1: you're waiting to get refunded back to you. The money 290 00:13:43,520 --> 00:13:46,280 Speaker 1: is gone for the time being. So when you use 291 00:13:46,320 --> 00:13:49,480 Speaker 1: a credit card, you would be disputing in the case 292 00:13:49,480 --> 00:13:52,240 Speaker 1: of fraud, for money that you would owe to the 293 00:13:52,240 --> 00:13:54,760 Speaker 1: credit card company. But when someone racks up those charges 294 00:13:54,760 --> 00:13:56,880 Speaker 1: on your debit card, that cash is gone and you 295 00:13:56,960 --> 00:13:59,400 Speaker 1: have to fight to get it back, and so that 296 00:13:59,440 --> 00:14:02,400 Speaker 1: can cause other issues while you're waiting for your bank 297 00:14:02,400 --> 00:14:04,839 Speaker 1: to look into the situation and issue you a refund. 298 00:14:05,280 --> 00:14:08,000 Speaker 1: Some banks will provide a provisional credit, but not all 299 00:14:08,040 --> 00:14:10,400 Speaker 1: of them. They don't have to. They're not legally required to. 300 00:14:10,960 --> 00:14:14,080 Speaker 1: You can always report your bank to the CFPB if 301 00:14:14,080 --> 00:14:16,480 Speaker 1: they aren't treating you fairly, but it's just a crummy 302 00:14:16,520 --> 00:14:18,760 Speaker 1: process to go through. And so, yeah, I think for 303 00:14:18,840 --> 00:14:22,360 Speaker 1: these reasons, these protection reasons that are in place for 304 00:14:22,440 --> 00:14:25,240 Speaker 1: debit card or credit card users, they're just stronger for 305 00:14:25,280 --> 00:14:27,560 Speaker 1: credit card users, and because of that, it just makes 306 00:14:27,560 --> 00:14:30,000 Speaker 1: debit cards just not nearly as good as an option 307 00:14:30,400 --> 00:14:33,320 Speaker 1: for us to use. Yeah, man, they are certainly not 308 00:14:33,600 --> 00:14:36,080 Speaker 1: great options. But here's the thing. By the same token, 309 00:14:36,480 --> 00:14:40,040 Speaker 1: the same aspect of debit cards can actually help you 310 00:14:40,080 --> 00:14:42,800 Speaker 1: to control your spending right. The fact that it is 311 00:14:42,960 --> 00:14:45,760 Speaker 1: your actual money can help you. What is good about 312 00:14:45,760 --> 00:14:48,400 Speaker 1: debit cards is that you are only accessing money that 313 00:14:48,440 --> 00:14:50,960 Speaker 1: you actually have in your accounts, and that can be 314 00:14:51,000 --> 00:14:53,720 Speaker 1: helpful if you tend to overspend and find yourself at 315 00:14:53,760 --> 00:14:55,560 Speaker 1: the end of the building cycle owing more to your 316 00:14:55,600 --> 00:14:58,920 Speaker 1: credit card than you actually have. While you can increase 317 00:14:59,600 --> 00:15:01,280 Speaker 1: the limit on your credit card, you can't do that 318 00:15:01,320 --> 00:15:03,400 Speaker 1: with your checking account that would be frowned upon by 319 00:15:03,400 --> 00:15:06,120 Speaker 1: the bank you can do that, So in this way, 320 00:15:06,200 --> 00:15:09,200 Speaker 1: debit cards are similar to cash. Once you've spent that money, 321 00:15:09,400 --> 00:15:12,000 Speaker 1: you can't keep spending. You're done. Basically, what it comes 322 00:15:12,000 --> 00:15:13,520 Speaker 1: down to with the debit card is that we should 323 00:15:13,640 --> 00:15:18,120 Speaker 1: probably avoid them all together. Ultimately, the only debit card 324 00:15:18,200 --> 00:15:21,080 Speaker 1: upside is the one you just mentioned, is that we 325 00:15:21,160 --> 00:15:24,240 Speaker 1: can't spend more than we have, except for we kind 326 00:15:24,240 --> 00:15:27,560 Speaker 1: of actually can at times if we allow our bank 327 00:15:27,920 --> 00:15:30,280 Speaker 1: to give us the option of overdrafting our account, And 328 00:15:30,320 --> 00:15:32,600 Speaker 1: if we do that, we're racking up exorbitant fees for 329 00:15:32,640 --> 00:15:35,320 Speaker 1: the privilege of spending more money than we actually have, 330 00:15:35,720 --> 00:15:39,040 Speaker 1: which is also a terrible idea, right exactly, So, even 331 00:15:39,080 --> 00:15:41,760 Speaker 1: that one positive reason doesn't make it worth it to 332 00:15:41,840 --> 00:15:44,240 Speaker 1: use debit cards. In our opinion, pretty much, the only 333 00:15:44,240 --> 00:15:46,440 Speaker 1: time I'm pulling out my debit card these days is 334 00:15:46,440 --> 00:15:50,040 Speaker 1: when I actually need to get cash for some random reason, 335 00:15:50,600 --> 00:15:53,480 Speaker 1: which is very very rare. Yeah, you gotta replenish your 336 00:15:53,480 --> 00:15:55,480 Speaker 1: stock of your one five dollar bill and your your 337 00:15:55,480 --> 00:15:56,960 Speaker 1: three ones that you like to keep in your wallet 338 00:15:57,040 --> 00:15:59,720 Speaker 1: eight dollars specifically at all times. I like to have 339 00:15:59,760 --> 00:16:01,840 Speaker 1: it on And it's just a nice round number. It's 340 00:16:01,880 --> 00:16:03,400 Speaker 1: kind of a random amount, right, When do you need 341 00:16:03,440 --> 00:16:05,520 Speaker 1: more than that? Really? Though? Well there's four, you've got 342 00:16:05,520 --> 00:16:07,160 Speaker 1: four bills. That's the thing for me. I just like 343 00:16:07,240 --> 00:16:09,800 Speaker 1: having a singular bill, like just having a twenty in there. 344 00:16:10,000 --> 00:16:13,320 Speaker 1: What if you gotta tip somebody though I don't tip, Okay, 345 00:16:13,440 --> 00:16:16,280 Speaker 1: all right, all right, no, I'm kidding. This actually recently 346 00:16:16,320 --> 00:16:18,720 Speaker 1: happened to us because here a quick story. Kate and 347 00:16:18,720 --> 00:16:21,360 Speaker 1: I we were eating out and they took forever getting 348 00:16:21,360 --> 00:16:23,000 Speaker 1: our food to us, and we didn't complain or anything, 349 00:16:23,280 --> 00:16:26,040 Speaker 1: but our waiter just realized how long we were waiting, 350 00:16:26,120 --> 00:16:28,600 Speaker 1: came over, explained to us the situation, said that dinner 351 00:16:28,680 --> 00:16:30,800 Speaker 1: was gonna be taken care of, which was a huge tree. 352 00:16:30,840 --> 00:16:32,120 Speaker 1: I mean, we were sitting there was a date night, 353 00:16:32,120 --> 00:16:34,280 Speaker 1: and so we were having a great conversation, but we 354 00:16:34,320 --> 00:16:36,400 Speaker 1: still wanted to make sure that we were tipping on 355 00:16:36,440 --> 00:16:38,560 Speaker 1: what our bill would have been. And so because she 356 00:16:38,640 --> 00:16:40,560 Speaker 1: didn't actually bring us a check, I got up and 357 00:16:40,560 --> 00:16:43,080 Speaker 1: went to the bar broke my twenty that way, we 358 00:16:43,120 --> 00:16:45,320 Speaker 1: can still leave, you know, a generous tip. So to 359 00:16:45,360 --> 00:16:47,120 Speaker 1: answer your question, what do I do if I need 360 00:16:47,120 --> 00:16:48,960 Speaker 1: to leave a tip? You just take a little visit 361 00:16:49,000 --> 00:16:51,560 Speaker 1: to the bar. Makes everything better there you go, all right, 362 00:16:52,320 --> 00:16:54,720 Speaker 1: I'll acknowledge that that worked out for you in that 363 00:16:54,760 --> 00:16:58,400 Speaker 1: circumstance without one time I worked out. Yeah. Ultimately, with 364 00:16:58,440 --> 00:17:01,800 Speaker 1: debit cards, there's no in greased friction, so it's pretty 365 00:17:01,800 --> 00:17:04,200 Speaker 1: easy just to kind of swipe that card. The benefit 366 00:17:04,240 --> 00:17:06,760 Speaker 1: that you have with cash is that it's psychologically harder 367 00:17:06,760 --> 00:17:09,199 Speaker 1: to actually spend it. And if you were using an 368 00:17:09,200 --> 00:17:12,560 Speaker 1: actual credit card, you would receive benefits and protections that 369 00:17:12,720 --> 00:17:15,240 Speaker 1: come with using a credit card. You don't have those 370 00:17:15,240 --> 00:17:18,160 Speaker 1: with a debit card. So that's why we would say 371 00:17:18,440 --> 00:17:22,720 Speaker 1: probably avoid debit cards altogether. Yeah, well, here's a quick 372 00:17:22,800 --> 00:17:25,359 Speaker 1: question for you. Debit cards are tied to checking accounts. 373 00:17:25,400 --> 00:17:28,000 Speaker 1: How do you feel about old school paper checks? Oh? 374 00:17:28,240 --> 00:17:30,280 Speaker 1: I think checks are pretty much kind of a bad 375 00:17:30,320 --> 00:17:33,520 Speaker 1: way to go now to especially with identity theft and 376 00:17:33,520 --> 00:17:36,080 Speaker 1: if someone sole your purse or stole your checkbook, they 377 00:17:36,119 --> 00:17:38,800 Speaker 1: have access to your routing number, your account number. That's 378 00:17:38,800 --> 00:17:41,920 Speaker 1: just not a good place to be. And honestly, checks 379 00:17:41,920 --> 00:17:45,040 Speaker 1: are kind of for the most part, in most circumstances 380 00:17:45,400 --> 00:17:47,720 Speaker 1: for us as individual consumers, that kind of gone the 381 00:17:47,720 --> 00:17:49,119 Speaker 1: way of the Dodo bird. I mean, I know that 382 00:17:49,119 --> 00:17:52,760 Speaker 1: they're useful in some circumstances for businesses, but really, when 383 00:17:52,760 --> 00:17:56,520 Speaker 1: we're talking about how we spend as individuals, checks are 384 00:17:56,520 --> 00:17:58,240 Speaker 1: just kind of a thing of the past, I think 385 00:17:58,280 --> 00:18:00,359 Speaker 1: in a lot of ways. Yeah, but again, and plus, 386 00:18:00,400 --> 00:18:02,159 Speaker 1: I mean the security aspect of it, right, I mean, 387 00:18:02,200 --> 00:18:04,800 Speaker 1: I'm not a professional thief or anything, but the fact 388 00:18:04,880 --> 00:18:07,280 Speaker 1: that the routing number and your account number are right 389 00:18:07,320 --> 00:18:09,920 Speaker 1: there on a check, I'm pretty sure that is all 390 00:18:10,280 --> 00:18:13,159 Speaker 1: that a criminal would would need to impersonate you to 391 00:18:13,240 --> 00:18:15,440 Speaker 1: find a way to try to steal some of your money. 392 00:18:15,480 --> 00:18:17,720 Speaker 1: So forge checks, I mean, that's a real thing too. 393 00:18:17,760 --> 00:18:19,920 Speaker 1: So I have a check book, I keep it at home. 394 00:18:20,200 --> 00:18:21,840 Speaker 1: If I ever need to write a check, I have 395 00:18:21,880 --> 00:18:24,760 Speaker 1: access to that. I probably write like two a year maybe, 396 00:18:24,800 --> 00:18:27,760 Speaker 1: I mean, I just it's very, very very rare that 397 00:18:27,760 --> 00:18:29,800 Speaker 1: I actually need to write a check, especially, like we 398 00:18:29,840 --> 00:18:32,080 Speaker 1: mentioned at the beginning of the show, with apps like 399 00:18:32,160 --> 00:18:35,879 Speaker 1: Venmo and cash App and more people accepting credit cards 400 00:18:35,960 --> 00:18:38,640 Speaker 1: and those alternative forms of payment, I mean, checks are 401 00:18:38,680 --> 00:18:41,760 Speaker 1: just kind of not something that I even think about anymore. Yeah, 402 00:18:41,800 --> 00:18:44,760 Speaker 1: bottom line checks do not offer any sort of security. 403 00:18:45,119 --> 00:18:47,720 Speaker 1: Neither do debit cards. But you know what does are 404 00:18:47,960 --> 00:18:50,720 Speaker 1: credit cards. And there are lots of benefits to using 405 00:18:50,760 --> 00:18:52,719 Speaker 1: a credit card properly, and we're gonna get to all 406 00:18:52,760 --> 00:19:04,240 Speaker 1: of those right after the break. All right, Matt, we're 407 00:19:04,240 --> 00:19:06,160 Speaker 1: back from the breaking. It's time to talk about kind 408 00:19:06,160 --> 00:19:09,800 Speaker 1: of that last part of our triumvirate cash, debit or credit. 409 00:19:09,880 --> 00:19:12,919 Speaker 1: Let's talk credit cards now. And I don't want to 410 00:19:13,040 --> 00:19:15,840 Speaker 1: overseell how great credit cards are. I don't want to 411 00:19:15,880 --> 00:19:18,520 Speaker 1: make this an episode about how cash is terrible and 412 00:19:18,560 --> 00:19:20,639 Speaker 1: debit cards are terrible and you should only use credit 413 00:19:20,640 --> 00:19:23,320 Speaker 1: cards for every purchase ever that you make in your life. 414 00:19:23,640 --> 00:19:27,040 Speaker 1: But honestly, that's ultimately kind of where I come down. 415 00:19:27,520 --> 00:19:29,600 Speaker 1: I wonder what you're gonna say, because it's we're gonna say, 416 00:19:29,760 --> 00:19:31,679 Speaker 1: but you might want to consider it, Yeah, but you 417 00:19:31,720 --> 00:19:33,400 Speaker 1: really might want to think about it if you can 418 00:19:33,440 --> 00:19:36,560 Speaker 1: handle credit cards. Well, really, it's just our favorite option 419 00:19:36,600 --> 00:19:38,679 Speaker 1: for people who are able to do that. If you 420 00:19:38,760 --> 00:19:41,040 Speaker 1: pay your bill infol at the end of every month, 421 00:19:41,560 --> 00:19:44,640 Speaker 1: and it's not going to cause a bunch of unnecessary 422 00:19:44,720 --> 00:19:47,600 Speaker 1: spending in your life, then credit cards just are the 423 00:19:47,640 --> 00:19:50,600 Speaker 1: best bet. And I'm sure you can kind of already 424 00:19:50,600 --> 00:19:52,560 Speaker 1: figure out a couple of the reasons why, but we're 425 00:19:52,560 --> 00:19:55,359 Speaker 1: gonna go into a few details on why credit cards 426 00:19:55,640 --> 00:19:59,119 Speaker 1: just are the best choice for people when they're spending money. 427 00:19:59,359 --> 00:20:01,760 Speaker 1: The obvious downside is that it's just so easy to 428 00:20:01,800 --> 00:20:04,080 Speaker 1: swipe or insert that chip and not even give it 429 00:20:04,119 --> 00:20:06,199 Speaker 1: a second thought to the purchase that you made. So 430 00:20:06,240 --> 00:20:10,359 Speaker 1: it's again it's a behavioral thing that credit cards actually 431 00:20:10,400 --> 00:20:13,880 Speaker 1: can make it easier for you to to spend more 432 00:20:13,880 --> 00:20:17,119 Speaker 1: money because the swipe or the insert just doesn't have 433 00:20:17,160 --> 00:20:19,680 Speaker 1: that same effect as pulling out a twenty dollar bill 434 00:20:19,720 --> 00:20:22,000 Speaker 1: out of your wallet. You could go super old school. 435 00:20:22,040 --> 00:20:24,040 Speaker 1: You can keep a ledger, you could write down every 436 00:20:24,080 --> 00:20:27,000 Speaker 1: purchase that you make with your card, and that can 437 00:20:27,040 --> 00:20:29,480 Speaker 1: help a lot. But but lots of folks just they're 438 00:20:29,480 --> 00:20:32,320 Speaker 1: not going to do that. Right the dollar Bird app, Matt, 439 00:20:32,400 --> 00:20:34,200 Speaker 1: We've mentioned that before. That can be a great way 440 00:20:34,280 --> 00:20:36,240 Speaker 1: to while you're on the go, kind of record your 441 00:20:36,240 --> 00:20:38,960 Speaker 1: purchases that you make with the credit card. And I 442 00:20:38,960 --> 00:20:40,840 Speaker 1: think I can help people use their credit card more 443 00:20:40,880 --> 00:20:44,159 Speaker 1: effectively so that they are keeping track. Tracking is like 444 00:20:44,200 --> 00:20:47,800 Speaker 1: a huge way to actually like lessen the potential downsides 445 00:20:47,920 --> 00:20:50,159 Speaker 1: of of using your credit card. I think, yeah, well, 446 00:20:50,160 --> 00:20:51,800 Speaker 1: I mean what's at the core of this is just 447 00:20:51,840 --> 00:20:54,760 Speaker 1: being aware that you're spending money, right. I think that's 448 00:20:54,760 --> 00:20:56,919 Speaker 1: one of the reasons cash is so effective at that 449 00:20:57,040 --> 00:20:59,679 Speaker 1: is because you mean you literally see it leave your 450 00:20:59,680 --> 00:21:01,720 Speaker 1: purse and versus when you use your card, you either 451 00:21:01,760 --> 00:21:03,720 Speaker 1: just swipe it or you just insert the chip. Your 452 00:21:03,720 --> 00:21:06,840 Speaker 1: card looks the exact same before and after that transaction. 453 00:21:06,880 --> 00:21:08,480 Speaker 1: It's not like a little piece of your card broke 454 00:21:08,520 --> 00:21:10,040 Speaker 1: off and and you're never going to get it back. 455 00:21:10,359 --> 00:21:12,520 Speaker 1: And so either way, whether it you do go old 456 00:21:12,520 --> 00:21:15,000 Speaker 1: school and kind of write transactions down or whether you 457 00:21:15,040 --> 00:21:17,240 Speaker 1: use an app like dollar Bird, you're basically just trying 458 00:21:17,280 --> 00:21:20,359 Speaker 1: to confront the purchases that you're making. You're trying to 459 00:21:20,400 --> 00:21:22,800 Speaker 1: create a step in there that forces you to look 460 00:21:22,800 --> 00:21:25,400 Speaker 1: at what you're spending your money on. Steady Pay that's 461 00:21:25,400 --> 00:21:28,520 Speaker 1: another app that's launched recently that attempts to marry the 462 00:21:28,560 --> 00:21:31,240 Speaker 1: benefits that you do get from using credit cards, but 463 00:21:31,359 --> 00:21:34,479 Speaker 1: with the accountability that comes with money actually leaving your 464 00:21:34,560 --> 00:21:36,320 Speaker 1: checking account and quickly you know. The kind of the 465 00:21:36,320 --> 00:21:38,800 Speaker 1: way it works is After linking your credit card and 466 00:21:38,840 --> 00:21:41,359 Speaker 1: your checking accounts to the app, you just use your 467 00:21:41,359 --> 00:21:44,560 Speaker 1: credit card like you normally would, and steady Pay automatically 468 00:21:44,800 --> 00:21:47,720 Speaker 1: draft your checking account to cover your balance for the 469 00:21:47,760 --> 00:21:50,040 Speaker 1: expenses that you've had that day, and so you know, 470 00:21:50,040 --> 00:21:53,000 Speaker 1: while you are not seeing every single expense register, you 471 00:21:53,040 --> 00:21:55,080 Speaker 1: know in your checking account, you do get to keep 472 00:21:55,160 --> 00:21:58,160 Speaker 1: up with your money a little more immediately than waiting, 473 00:21:58,280 --> 00:21:59,800 Speaker 1: you know, till the end of the month, or even 474 00:22:00,000 --> 00:22:01,560 Speaker 1: agree if you're waiting until the end of the building 475 00:22:01,560 --> 00:22:05,600 Speaker 1: cycle before you truly realize how much money you've actually spent. Yeah, 476 00:22:05,640 --> 00:22:09,240 Speaker 1: I think seeing that updated daily balance of what you 477 00:22:09,240 --> 00:22:12,000 Speaker 1: actually have in your checking accounts is so huge because 478 00:22:12,000 --> 00:22:14,440 Speaker 1: it's that mental hurdle. Sometimes people are like, if I 479 00:22:14,520 --> 00:22:16,800 Speaker 1: have a credit card and I can't see the money 480 00:22:16,800 --> 00:22:19,359 Speaker 1: actually leaving my account, well, then I'm not gonna be 481 00:22:19,400 --> 00:22:21,239 Speaker 1: able to handle it well. And so steady Pay can 482 00:22:21,280 --> 00:22:23,040 Speaker 1: be kind of that happy medium where you're using a 483 00:22:23,080 --> 00:22:25,800 Speaker 1: credit card. You're getting the protections that a credit card 484 00:22:25,840 --> 00:22:29,000 Speaker 1: has to offer, but at the same time, you're seeing 485 00:22:29,040 --> 00:22:32,239 Speaker 1: the money leave your account because it reflects that it 486 00:22:32,240 --> 00:22:34,480 Speaker 1: actually is actually pulling that money out and it's gonna 487 00:22:34,520 --> 00:22:36,959 Speaker 1: help you have that money set aside to pay your 488 00:22:37,000 --> 00:22:39,040 Speaker 1: bill at the end of the month. It's a neat idea. 489 00:22:39,119 --> 00:22:41,600 Speaker 1: And if that is kind of your hurdle to being 490 00:22:41,600 --> 00:22:43,800 Speaker 1: able to use a credit card, well then it might 491 00:22:43,840 --> 00:22:46,000 Speaker 1: make sense for you to check out Steady Pay. Yeah. 492 00:22:46,040 --> 00:22:48,640 Speaker 1: So let's get to the reasons why we are such 493 00:22:48,680 --> 00:22:51,680 Speaker 1: proponents of credit cards, and that's basically just due to 494 00:22:51,720 --> 00:22:54,119 Speaker 1: the benefits that you receive from the different cards that 495 00:22:54,160 --> 00:22:56,760 Speaker 1: are out there, the different rewards and protections that they offer. 496 00:22:57,080 --> 00:22:59,680 Speaker 1: You know, there's price matching guarantees, there's sign up bonuses, 497 00:22:59,680 --> 00:23:03,000 Speaker 1: travel miles, rental insurance. We've talked about that recently. These 498 00:23:03,040 --> 00:23:05,760 Speaker 1: are all things that you most often hear about. But 499 00:23:05,840 --> 00:23:08,040 Speaker 1: here's the thing. You still need to make sure that 500 00:23:08,080 --> 00:23:11,199 Speaker 1: you're handling your credit cards carefully and that you're not 501 00:23:11,200 --> 00:23:14,080 Speaker 1: getting carried away with it just for the rewards. Yeah. 502 00:23:14,119 --> 00:23:17,439 Speaker 1: There's an article I read recently, Matt. It specifically was 503 00:23:17,480 --> 00:23:20,399 Speaker 1: kind of calling out millennials, because man, isn't every article 504 00:23:20,840 --> 00:23:23,680 Speaker 1: calling out millennials. It feels like millennials do this, they're idiots. 505 00:23:23,840 --> 00:23:25,919 Speaker 1: It just it kind of is overkill at times. But 506 00:23:26,000 --> 00:23:28,760 Speaker 1: this article had some really interesting stuff to share that 507 00:23:28,880 --> 00:23:31,560 Speaker 1: a lot of millennials in particular love using credit cards 508 00:23:31,560 --> 00:23:34,960 Speaker 1: to get rewards. That's us right at me, Yeah, yeah, 509 00:23:35,080 --> 00:23:37,440 Speaker 1: I love credit card rewards, but a lot of them 510 00:23:37,440 --> 00:23:40,120 Speaker 1: didn't realize that that by not paying off their balances 511 00:23:40,160 --> 00:23:42,760 Speaker 1: in full every month, they were paying a far too 512 00:23:42,760 --> 00:23:45,560 Speaker 1: hefty price in order to earn those rewards. When you're 513 00:23:45,560 --> 00:23:49,800 Speaker 1: paying seventeen to and interest charges, the benefits aren't worth 514 00:23:49,840 --> 00:23:52,120 Speaker 1: the cost. And so a lot of folks out there 515 00:23:52,520 --> 00:23:56,200 Speaker 1: that think they're using credit card rewards, well, but they're 516 00:23:56,240 --> 00:23:58,800 Speaker 1: not paying off their balances, well, no you're not. That's 517 00:23:58,840 --> 00:24:02,240 Speaker 1: just that's not worth it. Basically, that's just something to 518 00:24:02,240 --> 00:24:04,679 Speaker 1: to watch out for, and I don't think we can 519 00:24:04,720 --> 00:24:07,560 Speaker 1: stress it enough. More than anything, if you can't pay 520 00:24:07,600 --> 00:24:09,080 Speaker 1: your balance off and full at the end of the month, 521 00:24:09,160 --> 00:24:12,400 Speaker 1: credit cards are probably not a good idea for you. You 522 00:24:12,000 --> 00:24:14,880 Speaker 1: You shouldn't be spending more on them, because no interest 523 00:24:14,920 --> 00:24:18,000 Speaker 1: charge is worth any sort of reward that you're getting 524 00:24:18,359 --> 00:24:20,480 Speaker 1: from a credit card. If that's the case, you need 525 00:24:20,520 --> 00:24:24,760 Speaker 1: to consider switching to using cash more frequently, because that 526 00:24:24,800 --> 00:24:27,359 Speaker 1: can kind of be the incentive to maybe break a 527 00:24:27,400 --> 00:24:29,879 Speaker 1: spending habit that you have. And as you find yourself 528 00:24:29,920 --> 00:24:33,320 Speaker 1: working out of debt once your credit card debt hits zero, 529 00:24:33,680 --> 00:24:35,480 Speaker 1: and if you change the way you handle those credit 530 00:24:35,480 --> 00:24:37,840 Speaker 1: cards in the future, then and only then does it 531 00:24:37,920 --> 00:24:39,920 Speaker 1: make sense to go back to actually using credit cards 532 00:24:39,920 --> 00:24:42,320 Speaker 1: in your life. Yeah, it's so important to know your 533 00:24:42,440 --> 00:24:45,720 Speaker 1: personal spending habits and how you actually handle credit. But 534 00:24:45,760 --> 00:24:48,200 Speaker 1: if you are handling it well, then there are numerous 535 00:24:48,280 --> 00:24:51,560 Speaker 1: benefits that you will receive from using that credit card. 536 00:24:51,800 --> 00:24:55,199 Speaker 1: Let's talk about unauthorized chrges. The protections that purchasing with 537 00:24:55,200 --> 00:24:57,520 Speaker 1: a credit card offers you are one of the most 538 00:24:57,560 --> 00:25:00,199 Speaker 1: compelling reasons to use a credit card. Thank to the 539 00:25:00,200 --> 00:25:03,359 Speaker 1: Fair Credit Building Act, your liability is capped at fifty 540 00:25:03,359 --> 00:25:06,800 Speaker 1: dollars from fraudulent transactions if your card is stolen or 541 00:25:06,840 --> 00:25:09,800 Speaker 1: if your card information is stolen. And unlike using a 542 00:25:09,840 --> 00:25:12,280 Speaker 1: debit card, you aren't using your money. When you pay 543 00:25:12,320 --> 00:25:15,240 Speaker 1: for something, no cash has actually left your hands. Yet 544 00:25:15,640 --> 00:25:18,160 Speaker 1: by using a credit card, you are not only protecting 545 00:25:18,200 --> 00:25:20,679 Speaker 1: the overall amount that you can be held liable for, 546 00:25:20,880 --> 00:25:24,320 Speaker 1: but you're also protecting your current cash from vulnerability. Yeah. 547 00:25:24,359 --> 00:25:27,120 Speaker 1: Another thing that credit cards do as you use those 548 00:25:27,160 --> 00:25:29,639 Speaker 1: as opposed to the other methods of payment, is that 549 00:25:29,680 --> 00:25:32,919 Speaker 1: they're building your of course, wait for it, credit score. 550 00:25:33,359 --> 00:25:36,560 Speaker 1: Aside from those monthly payments or any loans that you 551 00:25:36,640 --> 00:25:39,040 Speaker 1: might have, will paying your credit card bill on time 552 00:25:39,119 --> 00:25:42,680 Speaker 1: and or early will contribute to having a really high 553 00:25:42,720 --> 00:25:45,240 Speaker 1: credit score. There are many reasons that having a high 554 00:25:45,280 --> 00:25:48,040 Speaker 1: credit score is good for you. We've talked about that 555 00:25:48,119 --> 00:25:51,520 Speaker 1: multiple times on the show. Some cards, secured cards in particular, 556 00:25:51,720 --> 00:25:54,200 Speaker 1: can help you build credit when you're starting from scratch. 557 00:25:54,480 --> 00:25:56,560 Speaker 1: So let's say you have a poor credit score, you 558 00:25:56,600 --> 00:25:58,919 Speaker 1: haven't used credit well in the past, Well, going with 559 00:25:58,960 --> 00:26:01,800 Speaker 1: a secured card, which basically means that you put the 560 00:26:01,880 --> 00:26:05,240 Speaker 1: money down up front. A secured card has similarities to 561 00:26:05,320 --> 00:26:07,600 Speaker 1: a debit card, but it's so much better. That's helping 562 00:26:07,600 --> 00:26:10,479 Speaker 1: you build your credit back up when you're starting from scratch. 563 00:26:10,520 --> 00:26:13,240 Speaker 1: And other cards, through smart and regular use are contributing 564 00:26:13,240 --> 00:26:16,480 Speaker 1: to a strong credit score, and that has important impacts 565 00:26:16,880 --> 00:26:19,520 Speaker 1: on many areas of your life. So yeah, using those 566 00:26:19,520 --> 00:26:23,080 Speaker 1: credit cards well isn't just good for the protections that 567 00:26:23,119 --> 00:26:25,960 Speaker 1: you'll get, but it's gonna be a boonteer credit score man, 568 00:26:26,000 --> 00:26:27,719 Speaker 1: you're talking about credit score? Is that's such like a 569 00:26:27,760 --> 00:26:31,480 Speaker 1: nerdy benefit of using your credit cards well, like obviously 570 00:26:31,480 --> 00:26:33,560 Speaker 1: it's a real benefit. But like I'm in I'm in 571 00:26:33,560 --> 00:26:36,760 Speaker 1: it for the other rewards, right. Well we're nerdy fellas, Yeah, 572 00:26:36,880 --> 00:26:38,800 Speaker 1: we like to cover the nerdy aspects of money, and 573 00:26:38,920 --> 00:26:40,920 Speaker 1: sure a nerd out on that stuff. But I also 574 00:26:41,000 --> 00:26:44,280 Speaker 1: and into the cash back, right, like these other benefits 575 00:26:44,280 --> 00:26:46,280 Speaker 1: that the credit cards offer on top of the different 576 00:26:46,280 --> 00:26:48,560 Speaker 1: protections that you can get I'm talking about, like the 577 00:26:48,560 --> 00:26:51,760 Speaker 1: different travel awards, cash back rewards. The better credit cards 578 00:26:51,760 --> 00:26:54,119 Speaker 1: that are out there will offer some of those pretty 579 00:26:54,119 --> 00:26:56,959 Speaker 1: sweet secondary benefits. I mean, I know, for me, the 580 00:26:56,960 --> 00:26:59,560 Speaker 1: main reason I signed up for my first credit card 581 00:26:59,560 --> 00:27:02,359 Speaker 1: ever was for that cash bag bonus. You know, I 582 00:27:02,400 --> 00:27:05,120 Speaker 1: heard that by using this card you receive your percentage 583 00:27:05,119 --> 00:27:07,239 Speaker 1: back every single statement. And man, you know what, how 584 00:27:07,240 --> 00:27:09,800 Speaker 1: the money Matt was really into that before I was 585 00:27:09,840 --> 00:27:12,880 Speaker 1: even how the money Matt. And while a good many 586 00:27:12,960 --> 00:27:15,439 Speaker 1: of them are being stripped away by credit card issuers, 587 00:27:15,440 --> 00:27:18,320 Speaker 1: you can actually still nab price protection. That's a pretty 588 00:27:18,320 --> 00:27:21,000 Speaker 1: cool benefit. You can still get that benefit on a 589 00:27:21,040 --> 00:27:24,200 Speaker 1: few select cards. And there are many more cards that 590 00:27:24,240 --> 00:27:27,760 Speaker 1: are actually offering the different extended warranties on purchases. So 591 00:27:28,000 --> 00:27:30,480 Speaker 1: if you know you're about to make an expensive electronics purchase, 592 00:27:30,680 --> 00:27:32,239 Speaker 1: make sure that you put that on a card that 593 00:27:32,320 --> 00:27:35,439 Speaker 1: will offer to double the manufacturer's warranty. It's hard to 594 00:27:35,440 --> 00:27:38,199 Speaker 1: beat that free piece of mind. Yeah, the rewards that 595 00:27:38,280 --> 00:27:41,080 Speaker 1: credit cards can offer can be really really sweet, can 596 00:27:41,160 --> 00:27:43,720 Speaker 1: be enticing, and we're fans of kind of taking the 597 00:27:43,720 --> 00:27:47,359 Speaker 1: advantage of the sign up bonuses, of the cash back 598 00:27:47,880 --> 00:27:50,520 Speaker 1: of travel rewards. I mean, there are all these ways 599 00:27:50,560 --> 00:27:53,600 Speaker 1: to use credit cards effectively. So, man, I actually just 600 00:27:53,680 --> 00:27:56,160 Speaker 1: mentioned my first credit card, and I think I specifically 601 00:27:56,240 --> 00:27:59,320 Speaker 1: remember that being a Discover card because I had heard 602 00:27:59,400 --> 00:28:01,720 Speaker 1: that they were the ones offering that cash back, even 603 00:28:01,720 --> 00:28:03,800 Speaker 1: though I think a bunch were at the time. Do 604 00:28:03,840 --> 00:28:07,439 Speaker 1: you remember your specific first credit card, Man, I honestly 605 00:28:07,480 --> 00:28:10,359 Speaker 1: don't remember the credit card. I guy, Yeah, I'm trying 606 00:28:10,359 --> 00:28:12,960 Speaker 1: to think back right now, but it doesn't ring a bell. 607 00:28:13,000 --> 00:28:15,280 Speaker 1: It's not registering. I think for me, I just felt 608 00:28:15,280 --> 00:28:16,919 Speaker 1: like such a grown up, right because I'm like, oh, 609 00:28:16,920 --> 00:28:19,480 Speaker 1: I'm building my credit. Like I specifically remember my dad 610 00:28:19,520 --> 00:28:20,800 Speaker 1: saying you need to learn how to use credit. You 611 00:28:20,840 --> 00:28:22,560 Speaker 1: got a bount your credit score, and as a kid 612 00:28:22,680 --> 00:28:24,679 Speaker 1: entering adulthood, I just thought, cool, I get to have 613 00:28:24,680 --> 00:28:27,359 Speaker 1: a credit card, you know. I wasn't thinking about the 614 00:28:27,400 --> 00:28:29,800 Speaker 1: long term effects, but it certainly helped me over the years. Yeah, 615 00:28:29,800 --> 00:28:31,720 Speaker 1: I think I was a little nervous to open a 616 00:28:31,760 --> 00:28:34,000 Speaker 1: credit card for a while, based on kind of my 617 00:28:34,040 --> 00:28:37,080 Speaker 1: family history with credit cards, and you know, we wracked 618 00:28:37,160 --> 00:28:39,000 Speaker 1: up debt when I was growing up, My my my 619 00:28:39,080 --> 00:28:41,320 Speaker 1: family did and and so I was just kind of 620 00:28:41,360 --> 00:28:44,680 Speaker 1: a little apprehensive about using them. And so I understand 621 00:28:44,720 --> 00:28:47,160 Speaker 1: too where people are coming from why they're nervous about 622 00:28:47,240 --> 00:28:49,400 Speaker 1: using credit cards. I'm pretty sure the first card I 623 00:28:49,440 --> 00:28:53,120 Speaker 1: ever got was the Fidelity two percent cash back credit card. 624 00:28:53,560 --> 00:28:55,880 Speaker 1: Such a nerdy, grown up card. Again, you're talking about 625 00:28:55,920 --> 00:28:58,280 Speaker 1: your credit score. You got the Fidelity two percent card, 626 00:28:58,320 --> 00:28:59,920 Speaker 1: that was your first one. I've had that one for 627 00:29:00,000 --> 00:29:02,240 Speaker 1: a long time, so I think that's my oldest one, 628 00:29:02,480 --> 00:29:05,600 Speaker 1: all right, I'm glad it came to you. If not, 629 00:29:05,680 --> 00:29:07,320 Speaker 1: I think it was a capital one because they had 630 00:29:07,640 --> 00:29:10,360 Speaker 1: zero percent foreign transaction fees before that's kind of became 631 00:29:10,680 --> 00:29:13,600 Speaker 1: industry standard and a lot of issuers started offering that. 632 00:29:13,880 --> 00:29:16,080 Speaker 1: But yeah, those are the cards I've had the the longest. 633 00:29:16,360 --> 00:29:19,400 Speaker 1: But ultimately, like I said, I understand why people are apprehensive, 634 00:29:19,480 --> 00:29:22,160 Speaker 1: and I think there are good reasons for people to 635 00:29:22,840 --> 00:29:25,520 Speaker 1: consider not using a credit card, in particular if you've 636 00:29:25,520 --> 00:29:27,760 Speaker 1: had problems with them in the past or if you're 637 00:29:27,760 --> 00:29:30,000 Speaker 1: currently in credit card debt. But I think also we've 638 00:29:30,000 --> 00:29:32,800 Speaker 1: pointed out just all these reasons that using a credit 639 00:29:32,840 --> 00:29:36,520 Speaker 1: card is beneficial if they are unauthorized charges on your account, 640 00:29:36,760 --> 00:29:38,840 Speaker 1: there's these cash back bonuses. I mean, there are all 641 00:29:38,840 --> 00:29:41,320 Speaker 1: these reasons that paying with a credit card makes more 642 00:29:41,360 --> 00:29:44,080 Speaker 1: sense than paying with cash or debit. I think it's 643 00:29:44,120 --> 00:29:46,920 Speaker 1: important to highlight those reasons at least give people some 644 00:29:46,960 --> 00:29:49,480 Speaker 1: food for thought, Like, what am I using to make 645 00:29:49,520 --> 00:29:52,840 Speaker 1: my my everyday purchases and it doesn't actually make sense? 646 00:29:52,920 --> 00:29:55,360 Speaker 1: Is this the right form of payment for me to 647 00:29:55,400 --> 00:29:58,120 Speaker 1: be using? And in some cases using cash might be 648 00:29:58,200 --> 00:30:00,479 Speaker 1: right for us, and in other cases using it might 649 00:30:00,480 --> 00:30:02,960 Speaker 1: be right. Well what about debit? I noticed you didn't 650 00:30:03,000 --> 00:30:06,000 Speaker 1: mention debit cards at all, So yeah, I mean, I'm 651 00:30:06,040 --> 00:30:07,880 Speaker 1: just like, really, when I think about it, logically, I 652 00:30:07,920 --> 00:30:09,920 Speaker 1: just don't know that there's much room for debit cards 653 00:30:09,920 --> 00:30:12,640 Speaker 1: in our lives. I just side with either credit cards 654 00:30:12,720 --> 00:30:14,840 Speaker 1: or cash. And I guess the only time debit cards 655 00:30:14,840 --> 00:30:16,560 Speaker 1: would make sense is if you are in a lot 656 00:30:16,560 --> 00:30:19,000 Speaker 1: of credit card debt. You can't handle spending on credit cards. 657 00:30:19,200 --> 00:30:21,240 Speaker 1: You have to only use what's in your account, and 658 00:30:21,280 --> 00:30:23,600 Speaker 1: you want to make online purchases, well cash isn't gonna 659 00:30:23,600 --> 00:30:26,000 Speaker 1: work for that, so debit card really is then kind 660 00:30:26,040 --> 00:30:28,360 Speaker 1: of your only option. But yeah, I think it's important 661 00:30:28,360 --> 00:30:30,680 Speaker 1: to at least think through through these things, kind of 662 00:30:30,680 --> 00:30:33,680 Speaker 1: know the potential pros and cons of each, and I 663 00:30:33,680 --> 00:30:36,400 Speaker 1: think that'll just help us make better decisions. Yeah. But 664 00:30:36,440 --> 00:30:39,280 Speaker 1: in the end, man, it's worth mentioning that credit cards 665 00:30:39,440 --> 00:30:42,120 Speaker 1: can be so good for for you in your bottom 666 00:30:42,160 --> 00:30:45,560 Speaker 1: line if you can be disciplined with your spending. So Joel, 667 00:30:45,880 --> 00:30:48,600 Speaker 1: let's talk now, though about some beer. I'm gonna go 668 00:30:48,600 --> 00:30:50,680 Speaker 1: ahead and kick it off with my thoughts on this beer, 669 00:30:50,760 --> 00:30:53,160 Speaker 1: on the Orro Negro. And here's the thing, let's talk 670 00:30:53,160 --> 00:30:55,560 Speaker 1: about Jackie as Man. Like all of their beers that 671 00:30:55,600 --> 00:30:59,320 Speaker 1: we've had from them, they're all perfectly balanced. And this 672 00:30:59,360 --> 00:31:01,400 Speaker 1: is even harder to do with all the different flavors 673 00:31:01,400 --> 00:31:03,480 Speaker 1: in a beer like this, where there are so many 674 00:31:03,480 --> 00:31:05,720 Speaker 1: different flavors going on. You got the cocoa nibs, you 675 00:31:05,800 --> 00:31:08,080 Speaker 1: got the peppers, like there's that amount of heat, you 676 00:31:08,160 --> 00:31:10,760 Speaker 1: got the sweetness from the bourbon barrel, there's when there's 677 00:31:10,800 --> 00:31:13,400 Speaker 1: so many sort of flavors like that competing for your attention. 678 00:31:13,520 --> 00:31:16,920 Speaker 1: It takes a level of finesse and experience to rain 679 00:31:16,960 --> 00:31:18,959 Speaker 1: all those flavors in and to deliver them in a 680 00:31:19,000 --> 00:31:22,240 Speaker 1: way that you know sits well in your mouth. And 681 00:31:22,360 --> 00:31:26,440 Speaker 1: they have completely succeeded. This is a fantastic beer. And 682 00:31:26,440 --> 00:31:29,000 Speaker 1: what's the Girl Scout Cookie? Is it the Samoa's that 683 00:31:29,080 --> 00:31:31,920 Speaker 1: kind of have like the coconutt e cocona nitty sort 684 00:31:31,920 --> 00:31:34,440 Speaker 1: of flavor. My mind kept going to that cookie. And 685 00:31:34,480 --> 00:31:37,240 Speaker 1: there's not necessarily like coconut flavors specifically in this beer, 686 00:31:37,280 --> 00:31:39,840 Speaker 1: but just the combination of all of those flavors together 687 00:31:40,160 --> 00:31:43,120 Speaker 1: totally made me think of Samoa's, except of course, this 688 00:31:43,160 --> 00:31:45,800 Speaker 1: beer is a much more grown up version of that 689 00:31:45,840 --> 00:31:49,560 Speaker 1: beloved cookie. Yeah, man, this beer was awesome. I feel 690 00:31:49,560 --> 00:31:52,000 Speaker 1: like we truly saved the best for last from Jackie 691 00:31:52,040 --> 00:31:55,080 Speaker 1: O's and they were all great. Everything they put into 692 00:31:55,120 --> 00:31:58,880 Speaker 1: this beer. I could taste each little element. Everything was there, 693 00:31:59,320 --> 00:32:01,600 Speaker 1: But like you said, they were kind of perfectly harmonized, 694 00:32:01,600 --> 00:32:03,320 Speaker 1: like they really really hit the nail on the head. 695 00:32:03,640 --> 00:32:06,400 Speaker 1: You really got a little bit of everything in this 696 00:32:06,680 --> 00:32:08,720 Speaker 1: stout that in my mind was kind of a stout 697 00:32:08,760 --> 00:32:12,080 Speaker 1: of epic proportions. I love the touch of the habba 698 00:32:12,120 --> 00:32:15,160 Speaker 1: narrow heat. I feel like that it wasn't overwhelming, but 699 00:32:15,160 --> 00:32:16,840 Speaker 1: it was just a little bit in the back of 700 00:32:16,840 --> 00:32:19,080 Speaker 1: your throat. And I love that in kind of a 701 00:32:19,080 --> 00:32:22,120 Speaker 1: Mexican style stout like this is combined with the vanilla 702 00:32:22,160 --> 00:32:24,480 Speaker 1: and the cinnamon and the cocoa like it's, man, it 703 00:32:24,600 --> 00:32:26,840 Speaker 1: really is kind of this symphony of flavors going on 704 00:32:27,160 --> 00:32:30,440 Speaker 1: in this big burly stout. It was really really well done. 705 00:32:30,920 --> 00:32:33,920 Speaker 1: Mad props to the folks of Jackie O's for basically 706 00:32:34,120 --> 00:32:35,600 Speaker 1: not just hitting a home run like this is a 707 00:32:35,600 --> 00:32:38,040 Speaker 1: Grand Slam. This is like a walk off, bottom of 708 00:32:38,080 --> 00:32:40,720 Speaker 1: the ninth, two outs grand Slam. This was such a 709 00:32:40,720 --> 00:32:42,920 Speaker 1: good beer. Man deep with that analogy, are and ship 710 00:32:43,160 --> 00:32:45,720 Speaker 1: I went hole hog on that one. Well, here's here's 711 00:32:45,720 --> 00:32:47,800 Speaker 1: the thing. Like you said, this is a big burly stout, 712 00:32:47,920 --> 00:32:50,600 Speaker 1: but it's burly in like all the different flavors, but 713 00:32:50,600 --> 00:32:53,080 Speaker 1: it's not barely over the top. And how it drinks 714 00:32:53,280 --> 00:32:54,640 Speaker 1: is that one of these beers that you have a 715 00:32:54,640 --> 00:32:56,520 Speaker 1: few SIPs and you're almost tired of because it's just 716 00:32:56,600 --> 00:32:59,600 Speaker 1: so overwhelming. They've delivered just the right amount of flavor 717 00:32:59,800 --> 00:33:03,080 Speaker 1: and at the perfect time as well. Right, like each 718 00:33:03,120 --> 00:33:05,600 Speaker 1: flavor is kind of around every single corner. As you 719 00:33:05,680 --> 00:33:08,760 Speaker 1: drink this beer, it couldn't be any more enjoyable. And 720 00:33:08,840 --> 00:33:11,080 Speaker 1: something else too, like the name of it Oro Negro. 721 00:33:11,200 --> 00:33:12,480 Speaker 1: Do you know what that means? I looked it up 722 00:33:12,520 --> 00:33:16,400 Speaker 1: actually ahead of time, black Gold. Yeah, you took Spanish, 723 00:33:16,440 --> 00:33:18,320 Speaker 1: so you remember something. So I'm proud of you. All right, 724 00:33:18,360 --> 00:33:23,640 Speaker 1: I got lucky there, I think, But well I am impressed, sir. Yeah, honestly, 725 00:33:23,720 --> 00:33:26,080 Speaker 1: beer was so good, Jackie O's so good to us. 726 00:33:26,120 --> 00:33:28,200 Speaker 1: Send it some good beers our way. Thank you the 727 00:33:28,200 --> 00:33:30,680 Speaker 1: folks over there for sending these beers. It's a pleasure 728 00:33:30,680 --> 00:33:32,600 Speaker 1: to get to try something that we don't even get 729 00:33:32,680 --> 00:33:34,760 Speaker 1: here in Georgia. Yeah, man, let's go ahead and wrap 730 00:33:34,760 --> 00:33:36,520 Speaker 1: it up. You can find our show notes on our 731 00:33:36,520 --> 00:33:38,600 Speaker 1: website at how to money dot com. We'll have our 732 00:33:38,600 --> 00:33:41,080 Speaker 1: show notes up there, along with some of the links 733 00:33:41,080 --> 00:33:43,080 Speaker 1: to the different apps that we mentioned, as well as 734 00:33:43,120 --> 00:33:45,719 Speaker 1: an article to some of our favorite credit cards that 735 00:33:45,800 --> 00:33:48,000 Speaker 1: offer some of the best benefits if you think you 736 00:33:48,040 --> 00:33:50,720 Speaker 1: can handle the challenge of using a credit card. Yeah, 737 00:33:50,720 --> 00:33:52,920 Speaker 1: and of course, as always, we hope that you learned 738 00:33:53,000 --> 00:33:55,120 Speaker 1: something and that you found it interesting. Matt and I 739 00:33:55,160 --> 00:33:58,000 Speaker 1: have such a good time creating this show. It's fun 740 00:33:58,080 --> 00:34:00,560 Speaker 1: for us to record this together. And then we also 741 00:34:00,600 --> 00:34:03,280 Speaker 1: appreciate your feedback. And if you've got feedback that you're 742 00:34:03,320 --> 00:34:05,360 Speaker 1: willing to share, well, feel free to leave a review 743 00:34:05,480 --> 00:34:09,359 Speaker 1: on Apple Podcasts. Those reviews really help other people find 744 00:34:09,400 --> 00:34:11,839 Speaker 1: out about the show, and that helps spread the word 745 00:34:11,880 --> 00:34:14,360 Speaker 1: about good money habits. All right, Matt, that's going to 746 00:34:14,440 --> 00:34:17,399 Speaker 1: do it for this episode. Yeah, So until next time, 747 00:34:17,719 --> 00:34:19,359 Speaker 1: best Friends Out, Best Friends Out,