1 00:00:00,120 --> 00:00:02,840 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt, 2 00:00:02,960 --> 00:00:06,720 Speaker 1: and today we're discussing drunk investing, help for homebuyers, and 3 00:00:07,040 --> 00:00:28,000 Speaker 1: paying to cut in line. That's right, Joel. This is 4 00:00:28,000 --> 00:00:31,280 Speaker 1: our Friday flights where if listeners send us two thousand dollars, 5 00:00:31,560 --> 00:00:35,520 Speaker 1: we will guarantee return on their investment. All right, starting 6 00:00:35,520 --> 00:00:38,600 Speaker 1: our own MLM. That's a terrible idea. You have to 7 00:00:38,680 --> 00:00:40,120 Speaker 1: tell your friends about it, that that's the only way 8 00:00:40,120 --> 00:00:42,559 Speaker 1: that sorts. And they have to also send us two 9 00:00:42,560 --> 00:00:46,800 Speaker 1: thousand dollars exactly multiplication. Hey, they know how it works. Uh. 10 00:00:46,840 --> 00:00:49,640 Speaker 1: We have done episodes on MLMs before and they are awful. 11 00:00:49,680 --> 00:00:51,680 Speaker 1: And when this is what we're describing here is a 12 00:00:51,680 --> 00:00:54,000 Speaker 1: Ponzi scheme and we're not going to start either one 13 00:00:54,000 --> 00:00:55,600 Speaker 1: of those. We should put that out there. That way, 14 00:00:55,640 --> 00:00:58,360 Speaker 1: we don't get flagged by the CFPB. We don't want 15 00:00:58,360 --> 00:01:01,440 Speaker 1: to get shut down the government. Do they oversee podcast? 16 00:01:01,480 --> 00:01:03,200 Speaker 1: I don't know. That might be the FEC, but even 17 00:01:03,240 --> 00:01:05,200 Speaker 1: I don't know. They have to be sec depends on 18 00:01:05,200 --> 00:01:08,640 Speaker 1: what we're promising. Yeah, who has jurisdiction over we are 19 00:01:08,680 --> 00:01:11,400 Speaker 1: not a registered broker? Right? Oh my gosh. All right, 20 00:01:11,440 --> 00:01:13,920 Speaker 1: let's get to it. This is our Friday flight where 21 00:01:14,000 --> 00:01:16,400 Speaker 1: we look at the different stories in the news this week, 22 00:01:16,440 --> 00:01:18,880 Speaker 1: and we specifically are going to talk about how they 23 00:01:18,880 --> 00:01:22,839 Speaker 1: affect you and your personal finances. Joel, you got anything 24 00:01:22,840 --> 00:01:25,000 Speaker 1: for us here before we kick things off. Yes, yes, 25 00:01:25,040 --> 00:01:27,920 Speaker 1: I do, Matt. And it's this website called supposed dot tv, 26 00:01:28,520 --> 00:01:31,240 Speaker 1: and it actually helps you figure out what streaming channel 27 00:01:31,800 --> 00:01:35,160 Speaker 1: or channels are right for you. Basically, there's this thing 28 00:01:35,160 --> 00:01:37,600 Speaker 1: on the left hand rail. You click all of the 29 00:01:37,680 --> 00:01:40,200 Speaker 1: channels that you most enjoy, and then you can even 30 00:01:40,600 --> 00:01:42,640 Speaker 1: like rank them in order of which ones you like 31 00:01:42,720 --> 00:01:45,920 Speaker 1: the most, like ESPN Discovery Channel. Yeah, and it kind 32 00:01:45,920 --> 00:01:49,600 Speaker 1: of does this great job of helping you find the best, 33 00:01:49,920 --> 00:01:52,760 Speaker 1: most inexpensive package for you. Um. And you know it's, 34 00:01:52,920 --> 00:01:55,200 Speaker 1: you know, all likelihood for most people gonna involve subscribing 35 00:01:55,240 --> 00:01:58,880 Speaker 1: to a couple of different streaming services. But I really 36 00:01:58,880 --> 00:02:00,960 Speaker 1: liked it, and I think, um, it can be helpful 37 00:02:00,960 --> 00:02:03,360 Speaker 1: for you if you're like, Okay, when it comes down 38 00:02:03,400 --> 00:02:05,720 Speaker 1: to it, there's only these eight channels that I care about, 39 00:02:05,800 --> 00:02:08,440 Speaker 1: or these twelve channels that I care about. I think 40 00:02:08,480 --> 00:02:11,000 Speaker 1: he can really help you, you know, maybe lower the 41 00:02:11,000 --> 00:02:13,520 Speaker 1: amount that you're paying for streaming right now, or find 42 00:02:13,560 --> 00:02:16,440 Speaker 1: maybe a better package for you that you didn't know existed. Yeah, 43 00:02:16,520 --> 00:02:18,120 Speaker 1: what's really cool about it is not only can you 44 00:02:18,200 --> 00:02:20,440 Speaker 1: rank some of the different channels as you kind of 45 00:02:20,480 --> 00:02:22,639 Speaker 1: prioritize them, but some of them you can mark as optional. 46 00:02:23,320 --> 00:02:24,720 Speaker 1: So maybe, like you said, I don't know, you've got 47 00:02:24,720 --> 00:02:26,920 Speaker 1: twelve that you're interested in, Like I like Animal Planet, 48 00:02:26,960 --> 00:02:29,720 Speaker 1: but it's not it's not a meager break channel, but 49 00:02:29,760 --> 00:02:31,760 Speaker 1: maybe there's four of them that you have to have. Well, 50 00:02:31,800 --> 00:02:33,919 Speaker 1: it'll also tell you that, like, hey, look, this is 51 00:02:33,960 --> 00:02:35,320 Speaker 1: how you can get all those channels. But if if 52 00:02:35,320 --> 00:02:37,920 Speaker 1: you're looking to really save, this is the option for you. 53 00:02:37,960 --> 00:02:39,560 Speaker 1: I think it's pretty cool. It's just a way to 54 00:02:39,760 --> 00:02:42,000 Speaker 1: kind of automatically mix and match some of the different 55 00:02:42,000 --> 00:02:45,040 Speaker 1: services out there to lower hopefully what you're spending on 56 00:02:45,160 --> 00:02:48,280 Speaker 1: entertainment every month. But man, even you mentioning eight different channels, like, 57 00:02:48,320 --> 00:02:50,160 Speaker 1: I'm not even watching eight different shows right now, Like 58 00:02:50,200 --> 00:02:52,480 Speaker 1: I just don't have time to watch the one show 59 00:02:52,480 --> 00:02:54,600 Speaker 1: that I'm interested in right now, which is Ted Lasso. 60 00:02:54,680 --> 00:02:57,200 Speaker 1: Have you been watching that by the half? Yeah, it's solid, 61 00:02:57,400 --> 00:02:59,400 Speaker 1: it's I don't think it a season one. Yeah, I 62 00:02:59,400 --> 00:03:01,720 Speaker 1: don't I don't feel that it's as good as last year, 63 00:03:01,840 --> 00:03:04,640 Speaker 1: but it's still solid. And for us, we we got 64 00:03:04,680 --> 00:03:07,560 Speaker 1: Apple TV Plus for free because we purchased an Apple 65 00:03:07,560 --> 00:03:10,480 Speaker 1: device recently, so we still have that free membership going on, 66 00:03:10,720 --> 00:03:12,560 Speaker 1: which I looked it up. By the way, Uh, they 67 00:03:12,560 --> 00:03:16,480 Speaker 1: are no longer offering a one year free membership or subscription, 68 00:03:17,080 --> 00:03:19,359 Speaker 1: but if you buy a device, an Apple device now, 69 00:03:19,400 --> 00:03:21,720 Speaker 1: you still will get three months for free. So just 70 00:03:21,800 --> 00:03:23,520 Speaker 1: keep that in mind. There you go. Yeah, they're trying 71 00:03:23,560 --> 00:03:25,760 Speaker 1: to trying to get yoked. Pretty soon it will just 72 00:03:25,760 --> 00:03:28,240 Speaker 1: be one month. Well linked to to that website in 73 00:03:28,320 --> 00:03:31,000 Speaker 1: the show notes if you're trying to figure out how 74 00:03:31,040 --> 00:03:33,240 Speaker 1: you cut your streaming bill or how you find like 75 00:03:33,280 --> 00:03:36,200 Speaker 1: maybe like streamline it um, that website supposed dot tv 76 00:03:36,360 --> 00:03:37,960 Speaker 1: is gonna be helpful. But let's let's move on to 77 00:03:38,000 --> 00:03:40,880 Speaker 1: the Friday flight mat and let's yeah talk about these 78 00:03:40,920 --> 00:03:43,240 Speaker 1: stories that that really do have an impact on the 79 00:03:43,280 --> 00:03:46,080 Speaker 1: personal finances of all of us. The first story this 80 00:03:46,120 --> 00:03:48,120 Speaker 1: week comes from the Wall Street Journal, and and pretty 81 00:03:48,160 --> 00:03:51,640 Speaker 1: soon rent payments are going to play a factor in 82 00:03:51,880 --> 00:03:54,440 Speaker 1: mortgage underwriting. That's right, Yeah, this is the help for 83 00:03:54,480 --> 00:03:58,120 Speaker 1: homebuyers story that we mentioned exactly. And it's kind of 84 00:03:58,160 --> 00:04:00,240 Speaker 1: actually absurd really that this has not been the case. 85 00:04:00,280 --> 00:04:02,600 Speaker 1: I feel like the fact that you pay your credit 86 00:04:02,640 --> 00:04:05,600 Speaker 1: card bill a little late and it's just like, you know, 87 00:04:05,680 --> 00:04:07,920 Speaker 1: it has a massive impact, a negative impact on your 88 00:04:07,920 --> 00:04:10,520 Speaker 1: credit score, but that your biggest bill every month wasn't 89 00:04:10,560 --> 00:04:13,760 Speaker 1: an influence on your credit that's just silly. And uh so, yeah, 90 00:04:14,280 --> 00:04:17,039 Speaker 1: Fannie May is trying to change that. Actually announced that 91 00:04:17,320 --> 00:04:19,760 Speaker 1: this change. It's scheduled to take place on September eight. 92 00:04:20,000 --> 00:04:23,080 Speaker 1: And the best part is that this change can only help. 93 00:04:23,120 --> 00:04:25,600 Speaker 1: It cannot hurt your chances to qualify for a mortgage. 94 00:04:25,880 --> 00:04:29,080 Speaker 1: And if you have been making irregular payments, well Fannie 95 00:04:29,080 --> 00:04:31,800 Speaker 1: May is not going to include that history. But man, 96 00:04:31,800 --> 00:04:34,720 Speaker 1: I think this is good news for renters because it's 97 00:04:34,720 --> 00:04:39,120 Speaker 1: gonna factor into the underwriting for getting that mortgage. It's 98 00:04:39,160 --> 00:04:42,320 Speaker 1: gonna be really helpful as a sign that you are 99 00:04:42,360 --> 00:04:44,600 Speaker 1: good with money. It's gonna be a helpful factor and 100 00:04:44,600 --> 00:04:47,600 Speaker 1: getting approved for a mortgage when your lender can see 101 00:04:47,640 --> 00:04:50,240 Speaker 1: that that history of on time payments. Absolutely, yeah, this 102 00:04:50,279 --> 00:04:53,880 Speaker 1: is great news for especially to first time homebuyers who 103 00:04:54,000 --> 00:04:57,600 Speaker 1: have been consistent renters, consistent payers of their rent. Uh 104 00:04:57,640 --> 00:04:59,360 Speaker 1: you know stay over the past couple of years, that 105 00:04:59,440 --> 00:05:03,120 Speaker 1: kind of thing. Speaking of things that might affect your credit, 106 00:05:03,520 --> 00:05:05,960 Speaker 1: A lot of personal data was compromised earlier this week 107 00:05:06,120 --> 00:05:09,520 Speaker 1: fifty million T mobile customers. To be exact, a troph 108 00:05:09,520 --> 00:05:13,360 Speaker 1: of personal data was leaked and anything from names, two 109 00:05:13,600 --> 00:05:17,799 Speaker 1: pens to even social Security numbers might be out there. Unfortunately, 110 00:05:17,880 --> 00:05:20,400 Speaker 1: this has kind of become commonplace. But a T Mobile 111 00:05:20,400 --> 00:05:22,640 Speaker 1: they're saying that they're gonna offer at least they're gonna 112 00:05:22,640 --> 00:05:26,160 Speaker 1: offer some free identity protection, which yeah, okay, thanks at 113 00:05:26,160 --> 00:05:29,720 Speaker 1: T Mobile, but that's actually not enough. The proper response 114 00:05:30,080 --> 00:05:31,960 Speaker 1: for our listeners, for for all of your listeners out 115 00:05:31,960 --> 00:05:34,320 Speaker 1: there listening to how the money who might have been 116 00:05:34,360 --> 00:05:37,479 Speaker 1: affected by this breach, is to freeze your credits. You 117 00:05:37,480 --> 00:05:41,400 Speaker 1: don't want to deal with catching, uh, you know folks 118 00:05:41,520 --> 00:05:44,120 Speaker 1: after they have tried to open an account in your 119 00:05:44,160 --> 00:05:45,960 Speaker 1: name where your credit might be ruined, you want to 120 00:05:46,000 --> 00:05:48,599 Speaker 1: prevent them from doing that. Right. It makes me think 121 00:05:48,600 --> 00:05:51,080 Speaker 1: of like if you're buying a house and the home 122 00:05:51,080 --> 00:05:53,760 Speaker 1: seller was like, hey, by the way, this house doesn't 123 00:05:53,760 --> 00:05:56,960 Speaker 1: have any dead bolts, uh, and no alarm system, nothing 124 00:05:57,320 --> 00:05:59,880 Speaker 1: but the local police department. They're really good and if 125 00:05:59,880 --> 00:06:02,680 Speaker 1: a body does steal anything from your house, they will 126 00:06:02,720 --> 00:06:06,200 Speaker 1: definitely do a good job helping you get your stuff back. No, no, no, 127 00:06:06,440 --> 00:06:08,880 Speaker 1: I want to prefect that from happening. Uh, in the 128 00:06:08,920 --> 00:06:11,920 Speaker 1: first place, they'll get that police report filed stat Yeah, 129 00:06:11,960 --> 00:06:14,080 Speaker 1: it's like great, but I'd rather prevent it in the 130 00:06:14,080 --> 00:06:17,440 Speaker 1: first place. And that's what yeah, credit freeze does, and honestly, 131 00:06:17,440 --> 00:06:19,400 Speaker 1: it's it's the best step for all how to money listeners, 132 00:06:19,400 --> 00:06:23,240 Speaker 1: not just uh, the ones who were customers of T Mobile. 133 00:06:23,240 --> 00:06:25,200 Speaker 1: And we're involved in this breach because there is a 134 00:06:25,279 --> 00:06:28,440 Speaker 1: high probability that you've been affected by at least one 135 00:06:28,720 --> 00:06:31,560 Speaker 1: data breach, right, I mean there's the Equifax breach in 136 00:06:31,920 --> 00:06:35,760 Speaker 1: seen matt which involved almost a hundred and fifty million Americans, right, 137 00:06:36,160 --> 00:06:38,280 Speaker 1: and they have been countless breaches. I feel like we're 138 00:06:38,279 --> 00:06:41,240 Speaker 1: suffering breach fatigue. We just like read about another one 139 00:06:41,279 --> 00:06:44,320 Speaker 1: every other week, and we just assume now that our 140 00:06:44,320 --> 00:06:46,600 Speaker 1: information is out there, and I think rightly so, that 141 00:06:46,720 --> 00:06:49,039 Speaker 1: Pandora's box has been opened and there's not much we 142 00:06:49,040 --> 00:06:51,159 Speaker 1: can do about it. But while we can't undo the 143 00:06:51,240 --> 00:06:55,760 Speaker 1: leaking of our personal information, we can prevent criminals from 144 00:06:55,880 --> 00:06:58,960 Speaker 1: using that information to open up accounts in our name 145 00:06:59,640 --> 00:07:03,000 Speaker 1: and the ensuing havoc that that creates on our financial lives. 146 00:07:03,240 --> 00:07:05,760 Speaker 1: And we've actually got a guide to freezing your credit 147 00:07:05,800 --> 00:07:08,159 Speaker 1: on our website, will include it in the show notes. 148 00:07:08,400 --> 00:07:11,320 Speaker 1: And the great thing Matt about freezing your credit it 149 00:07:11,440 --> 00:07:13,720 Speaker 1: locks everything down. It is the dead bolt to the house. 150 00:07:14,000 --> 00:07:16,840 Speaker 1: But it's also completely free, and it doesn't take much time, 151 00:07:16,920 --> 00:07:21,080 Speaker 1: so it's well worth that a few minutes five minutes 152 00:07:21,080 --> 00:07:23,720 Speaker 1: of your time to freeze your credit with each of 153 00:07:23,760 --> 00:07:26,560 Speaker 1: the major bureaus UM and get on with your life exactly. 154 00:07:26,600 --> 00:07:28,200 Speaker 1: And if you need to open a line of credit, 155 00:07:28,240 --> 00:07:30,640 Speaker 1: we've talked about this before, but it is incredibly easy 156 00:07:30,720 --> 00:07:35,160 Speaker 1: once you have your passwords saved somewhere secure. UH. Maybe 157 00:07:35,200 --> 00:07:38,560 Speaker 1: not on Tea mobiles UM Mobile database, but it is 158 00:07:38,600 --> 00:07:41,000 Speaker 1: really quick and easy for you to log into the 159 00:07:41,040 --> 00:07:46,600 Speaker 1: different credit reporting companies UH and unfreeze your credit. Joel, 160 00:07:46,640 --> 00:07:48,960 Speaker 1: let's keep mo with Let's let's pulay frugal or cheap 161 00:07:49,280 --> 00:07:52,040 Speaker 1: in UH in Today's Friday Flight. One of my favorite 162 00:07:52,160 --> 00:07:53,720 Speaker 1: things we do question for you, would you would you 163 00:07:53,720 --> 00:07:56,480 Speaker 1: pay extra money to skip the lines at Disney? Depends 164 00:07:56,480 --> 00:07:58,160 Speaker 1: on how much I guess, and depends on how the 165 00:07:58,200 --> 00:08:01,160 Speaker 1: lines were. I definitely I feel like I definitely would 166 00:08:01,200 --> 00:08:03,040 Speaker 1: because the older I get, the more I realized, man, 167 00:08:03,320 --> 00:08:06,160 Speaker 1: time is like is my life, you know, like like 168 00:08:06,200 --> 00:08:08,560 Speaker 1: you can always earn more money, but when it comes 169 00:08:08,600 --> 00:08:11,080 Speaker 1: to time, Man, once time has been spent, like like 170 00:08:11,120 --> 00:08:13,320 Speaker 1: that might be ten minutes an hour, you know, several 171 00:08:13,320 --> 00:08:15,520 Speaker 1: hours that I would never get back. And one of 172 00:08:15,520 --> 00:08:17,720 Speaker 1: the things I hate doing with my time the most 173 00:08:17,880 --> 00:08:20,200 Speaker 1: is standing in line, kind of waiting in line while 174 00:08:20,720 --> 00:08:23,160 Speaker 1: you know your kids are pulling on you, if your sweating. 175 00:08:23,200 --> 00:08:27,080 Speaker 1: It's like traffic lines like drive through Like I hate 176 00:08:27,080 --> 00:08:29,120 Speaker 1: all that stuff. Well, if that's something you are interested 177 00:08:29,120 --> 00:08:31,160 Speaker 1: in doing, paying money to to get the lines of something, 178 00:08:31,160 --> 00:08:32,880 Speaker 1: you're gonna have to do now at Disney because they 179 00:08:32,920 --> 00:08:36,640 Speaker 1: are officially ditching their fast Pass in favor of this 180 00:08:36,840 --> 00:08:39,920 Speaker 1: uh this new version, this new iteration called Genie Plus. 181 00:08:40,280 --> 00:08:42,040 Speaker 1: So the way it works, you'll pay an extra fifteen 182 00:08:42,440 --> 00:08:45,160 Speaker 1: per person at disney World, an extra twenty dollars per 183 00:08:45,200 --> 00:08:48,720 Speaker 1: person at Disneyland for the ability to skip long lines. 184 00:08:49,080 --> 00:08:51,520 Speaker 1: But here's the thing that's on top of the already 185 00:08:51,520 --> 00:08:55,280 Speaker 1: sky high one day entrance fee, which starts at a 186 00:08:55,320 --> 00:08:58,200 Speaker 1: hundred and nine dollars if you were to jump on 187 00:08:58,280 --> 00:09:01,160 Speaker 1: this Genie Plus action, think you're going to see the 188 00:09:01,200 --> 00:09:05,319 Speaker 1: costs of your Disney World disney Land vacations skyrocket very quickly. Yeah, 189 00:09:05,400 --> 00:09:07,880 Speaker 1: for sure, I think Matt, what's part part of what's 190 00:09:07,880 --> 00:09:10,600 Speaker 1: annoying about this is that not all of the rides 191 00:09:10,640 --> 00:09:13,360 Speaker 1: are included, so you pay that extra money and then 192 00:09:13,640 --> 00:09:16,000 Speaker 1: it only applies to certain rides, which is super annoying, 193 00:09:16,080 --> 00:09:17,760 Speaker 1: right because not only does it cost more money, but 194 00:09:17,760 --> 00:09:20,160 Speaker 1: it's complicated and it's confusing. And when you have something 195 00:09:20,200 --> 00:09:22,559 Speaker 1: that costs more and is confusing, I think that's a 196 00:09:22,640 --> 00:09:25,600 Speaker 1: recipe for disaster, right because like if say, okay, what 197 00:09:25,679 --> 00:09:28,800 Speaker 1: if it was say fifty bucks all rides were included, 198 00:09:28,920 --> 00:09:31,440 Speaker 1: and it was like for your whole family. Yeah, super easy. 199 00:09:32,080 --> 00:09:34,800 Speaker 1: It's a very clean and easy decision making process. But 200 00:09:34,840 --> 00:09:36,640 Speaker 1: when you have to start like accounting for the different 201 00:09:36,720 --> 00:09:38,960 Speaker 1: rides that you want to actually visit when you're when 202 00:09:38,960 --> 00:09:40,559 Speaker 1: you're there at the park, that to me is the 203 00:09:40,720 --> 00:09:43,559 Speaker 1: biggest pain in the butt. Yeah, and it gets even 204 00:09:43,600 --> 00:09:45,280 Speaker 1: more model because you're not gonna be able to skip 205 00:09:45,800 --> 00:09:47,960 Speaker 1: the line on some of the more popular rides with 206 00:09:48,000 --> 00:09:50,839 Speaker 1: the Genie Plus upgrade, it's gonna actually cost you more 207 00:09:50,880 --> 00:09:53,000 Speaker 1: to skip the lines on the most in demand rides, 208 00:09:53,520 --> 00:09:56,120 Speaker 1: And then you might say, well, well how much more? 209 00:09:56,360 --> 00:09:59,280 Speaker 1: And the answer is that depends because the price for 210 00:09:59,320 --> 00:10:01,760 Speaker 1: skipping those lines is going to be priced similar to 211 00:10:01,840 --> 00:10:05,000 Speaker 1: like Uber search pricing. It kind of depends on how 212 00:10:05,000 --> 00:10:07,040 Speaker 1: many people are in the park and how popular that 213 00:10:07,120 --> 00:10:09,120 Speaker 1: ride is at the moment. So, yeah, I don't know. 214 00:10:09,160 --> 00:10:11,240 Speaker 1: Your kid might be tugging on your sleeve wanting to 215 00:10:11,320 --> 00:10:14,360 Speaker 1: go ride this Slinky Dog roller coaster and maybe that's 216 00:10:14,360 --> 00:10:17,120 Speaker 1: not included in Genie Plus, and you're like, dang it, 217 00:10:17,160 --> 00:10:19,000 Speaker 1: I have to decide in the moment, do I want 218 00:10:19,040 --> 00:10:21,520 Speaker 1: to spend an extra eighteen dollars to get us on 219 00:10:21,559 --> 00:10:24,080 Speaker 1: this ride quickly? Because my kid really wants to go. 220 00:10:24,160 --> 00:10:26,120 Speaker 1: And so I think it's gonna put some parents in 221 00:10:26,160 --> 00:10:29,480 Speaker 1: a precarious position. And some people have actually argued that, 222 00:10:29,520 --> 00:10:31,880 Speaker 1: you know, this new system might actually make the normal 223 00:10:31,920 --> 00:10:34,680 Speaker 1: lines a bit more accessible. I hope that's the case, 224 00:10:35,080 --> 00:10:39,800 Speaker 1: but yeah, Disney is quickly becoming an unaffordable vacation destination. 225 00:10:40,080 --> 00:10:41,680 Speaker 1: I just can't. Yeah, how how much are you gonna 226 00:10:41,679 --> 00:10:44,520 Speaker 1: span on one day with a family of five at Disney? 227 00:10:44,559 --> 00:10:47,600 Speaker 1: I mean just getting into the park, riding the rides, 228 00:10:47,880 --> 00:10:50,520 Speaker 1: and like, let's say you buy food there too. I 229 00:10:50,520 --> 00:10:52,920 Speaker 1: mean you're talking, you know, eight hundred bucks for a 230 00:10:52,960 --> 00:10:55,520 Speaker 1: family at five, that's pretty expensive. Cluss, Right, And well 231 00:10:55,520 --> 00:10:57,880 Speaker 1: you mentioned the Slinky Dog roller coaster. Did you mention 232 00:10:57,960 --> 00:11:00,000 Speaker 1: that one from a personal experience? It's an excellent ride? 233 00:11:00,040 --> 00:11:02,080 Speaker 1: There is it? I wouldn't know because we haven't been 234 00:11:02,160 --> 00:11:04,480 Speaker 1: yet because the prizes are so high, but one of 235 00:11:04,480 --> 00:11:07,880 Speaker 1: these days, obviously, uh, we are likely to go. Maybe 236 00:11:07,880 --> 00:11:10,160 Speaker 1: I shouldn't say obviously because like in my mind it's 237 00:11:10,160 --> 00:11:13,280 Speaker 1: it's inevitable, but it doesn't have to be inevitable. But 238 00:11:13,320 --> 00:11:15,200 Speaker 1: I just feel like it's something that I do want 239 00:11:15,240 --> 00:11:16,680 Speaker 1: to take my family too. You know, It's something I 240 00:11:16,679 --> 00:11:18,400 Speaker 1: do want the kids to experience. But I just have 241 00:11:18,440 --> 00:11:19,840 Speaker 1: to get used to the idea that I'm gonna be 242 00:11:19,880 --> 00:11:22,200 Speaker 1: paying out my nose, uh, in order for that to happen. 243 00:11:22,240 --> 00:11:25,760 Speaker 1: Start saving. Now, Yeah, let's talk about electric vehicles, Joe. 244 00:11:25,800 --> 00:11:28,880 Speaker 1: I know this is something that you are particularly. Do 245 00:11:28,920 --> 00:11:30,640 Speaker 1: you miss your your old niece on leaf? Oh? Yeah, 246 00:11:30,679 --> 00:11:33,240 Speaker 1: for sure. But I will say I'm I'm still glad 247 00:11:33,280 --> 00:11:35,320 Speaker 1: that we went down to being a one car family. 248 00:11:35,440 --> 00:11:38,120 Speaker 1: While I'm miss driving electric vehicle like it still was 249 00:11:38,160 --> 00:11:40,800 Speaker 1: the best move for us. Glad to hear that. Well, 250 00:11:40,840 --> 00:11:43,400 Speaker 1: either way, your next vehicle might be an electric vehicle 251 00:11:43,440 --> 00:11:46,840 Speaker 1: because President Biden he recently signed an executive order pushing 252 00:11:46,960 --> 00:11:50,160 Speaker 1: for an electric vehicle sales goal of fifty cent by 253 00:11:50,200 --> 00:11:54,120 Speaker 1: the year. The fact that it's an executive order, actually 254 00:11:54,200 --> 00:11:56,000 Speaker 1: it means that there's not really, you know, going to 255 00:11:56,080 --> 00:11:59,000 Speaker 1: be any enforcement mechanisms for this goal. But it is 256 00:11:59,040 --> 00:12:03,400 Speaker 1: worth kind of wondering what the future of vehicles of 257 00:12:03,440 --> 00:12:05,640 Speaker 1: the automotive industry might look like here in the US. 258 00:12:05,960 --> 00:12:07,600 Speaker 1: You know, is that even possible for half of the 259 00:12:07,640 --> 00:12:10,320 Speaker 1: vehicles sold in the US to be electric vehicles? Well, 260 00:12:10,360 --> 00:12:12,840 Speaker 1: the thing is, we can look to Norway because in essence, 261 00:12:12,880 --> 00:12:16,840 Speaker 1: the future is already there. I shouldn't say here, because 262 00:12:16,880 --> 00:12:19,680 Speaker 1: they're doing it. You might remember Will Ferrell's electric vehicle 263 00:12:19,920 --> 00:12:24,440 Speaker 1: Super Bowl commercial where they the we were targeting Norway, 264 00:12:25,000 --> 00:12:29,240 Speaker 1: but fifty four percent of new vehicles purchased in were 265 00:12:29,280 --> 00:12:32,760 Speaker 1: electric vehicles in your motherland. And uh, that percentage is 266 00:12:32,760 --> 00:12:37,240 Speaker 1: increasing rapidly. It's likely to become more than one by 267 00:12:37,280 --> 00:12:39,400 Speaker 1: the end of this year. So it's just interesting to 268 00:12:39,400 --> 00:12:43,800 Speaker 1: see how quickly electric vehicle adoption can skyrocket. There are 269 00:12:43,800 --> 00:12:45,160 Speaker 1: a lot of things that we'll need to do in 270 00:12:45,200 --> 00:12:47,679 Speaker 1: this country here in the US that expand beyond an 271 00:12:47,679 --> 00:12:50,000 Speaker 1: executive order to make that happen. Though, Yeah, in the 272 00:12:50,040 --> 00:12:53,000 Speaker 1: executive order feels a little bit like, oh, here's hoping 273 00:12:53,280 --> 00:12:55,240 Speaker 1: like this would be nice, right right, Yeah, you can 274 00:12:55,280 --> 00:12:57,800 Speaker 1: say that about a lot of things, right well. And 275 00:12:57,880 --> 00:12:59,720 Speaker 1: one of the things that could actually make it a 276 00:12:59,760 --> 00:13:02,720 Speaker 1: little more difficult to actually accomplish this goal, I think, 277 00:13:02,840 --> 00:13:05,400 Speaker 1: is the New Infrastructure Deal because it did not include 278 00:13:05,440 --> 00:13:09,040 Speaker 1: a more robust electric vehicle tax credit. There were some 279 00:13:09,040 --> 00:13:12,200 Speaker 1: discussions about including one like a federal tax credit of 280 00:13:12,559 --> 00:13:14,839 Speaker 1: right around twelve thousand dollars for the purchase of some 281 00:13:14,880 --> 00:13:17,680 Speaker 1: electric vehicles, and I gotta imagine if you subsidize ev 282 00:13:17,800 --> 00:13:19,400 Speaker 1: e v s to that point, there are a lot 283 00:13:19,400 --> 00:13:21,680 Speaker 1: more people are going to be interested in adopting them. 284 00:13:22,280 --> 00:13:25,400 Speaker 1: But yeah, that didn't come to pass. So here's the thing, though, 285 00:13:25,480 --> 00:13:28,800 Speaker 1: even without a federal subsidy, electric vehicles are still going 286 00:13:28,880 --> 00:13:31,960 Speaker 1: to be better from an annual cost of ownership standpoint. 287 00:13:32,000 --> 00:13:34,240 Speaker 1: Even if you're not getting a discount from the federal 288 00:13:34,320 --> 00:13:37,160 Speaker 1: government to buy an electric vehicle, it can still make 289 00:13:37,200 --> 00:13:40,720 Speaker 1: financial sense. The d OE, the Department of Energy, recently 290 00:13:40,720 --> 00:13:44,960 Speaker 1: completed a study showing that evs cost forty less to 291 00:13:45,000 --> 00:13:49,880 Speaker 1: maintain than their internal combustion engine counterparts. Other studies have 292 00:13:49,920 --> 00:13:53,400 Speaker 1: actually found really really similar results. So, yeah, there are 293 00:13:53,400 --> 00:13:56,280 Speaker 1: still reasons to choose a traditional gas power vehicle for 294 00:13:56,320 --> 00:13:59,120 Speaker 1: some people, but it is at least worth considering an 295 00:13:59,160 --> 00:14:03,240 Speaker 1: electric vehicle. If you're thinking of upgrading or selling your 296 00:14:03,280 --> 00:14:06,000 Speaker 1: old one and getting another used one, you know, an 297 00:14:06,000 --> 00:14:09,120 Speaker 1: electric vehicle might make more sense for you now, um, 298 00:14:09,240 --> 00:14:11,800 Speaker 1: and it often makes financial sense to Yeah, well, in 299 00:14:11,840 --> 00:14:13,720 Speaker 1: the financial sense, it kind of comes down to the 300 00:14:13,760 --> 00:14:16,240 Speaker 1: type of EV that you're looking at as well, right, because, 301 00:14:16,280 --> 00:14:19,120 Speaker 1: like on the lower end electric vehicles and Consumer Reports 302 00:14:19,160 --> 00:14:21,200 Speaker 1: they had a really good article on this, But like 303 00:14:21,240 --> 00:14:24,360 Speaker 1: a Chevy Bolt, it's gonna cost about like more than 304 00:14:24,440 --> 00:14:27,760 Speaker 1: an equivalent internal combustion engine, but because of those maintenance 305 00:14:27,800 --> 00:14:32,000 Speaker 1: costs being lower, you start regaining that upfront cost within 306 00:14:32,120 --> 00:14:33,560 Speaker 1: just a few years. Well, so it takes like a 307 00:14:33,640 --> 00:14:36,280 Speaker 1: hundred thousand miles roughly before you kind of like break even, 308 00:14:36,440 --> 00:14:38,040 Speaker 1: but then on the next hundred thousand miles from one 309 00:14:38,400 --> 00:14:41,440 Speaker 1: to two hundred, you're gonna be ahead, seving bucks, and 310 00:14:41,440 --> 00:14:44,000 Speaker 1: then if you keep that vehicle even longer, it's nothing 311 00:14:44,000 --> 00:14:46,840 Speaker 1: but winning even from that point before then though, you know, 312 00:14:46,960 --> 00:14:49,720 Speaker 1: the electric vehicles, you can say roughly a thousand dollars 313 00:14:49,760 --> 00:14:52,160 Speaker 1: per year on fuel costs. I mean obviously depends with 314 00:14:52,200 --> 00:14:53,800 Speaker 1: the price of gases and stuff like and how much 315 00:14:53,800 --> 00:14:56,160 Speaker 1: you're driving, but most people are gonna be able to 316 00:14:56,160 --> 00:14:58,640 Speaker 1: save roughly that amount every single year. So it's reduced 317 00:14:58,680 --> 00:15:01,760 Speaker 1: maintenance costs. Uh, not to mention reduce fuel costs for 318 00:15:01,800 --> 00:15:03,520 Speaker 1: a lot of people, exactly, it just makes a lot 319 00:15:03,520 --> 00:15:05,240 Speaker 1: of financial sense. Yeah, and you see that more in 320 00:15:05,280 --> 00:15:07,880 Speaker 1: like the the higher end electric vehicles, and so like 321 00:15:07,960 --> 00:15:10,600 Speaker 1: a Tesla Model three you get cost about the same 322 00:15:10,640 --> 00:15:13,440 Speaker 1: as like a Beamer like three series or an Audi. Uh. 323 00:15:13,480 --> 00:15:15,560 Speaker 1: And so for those vehicles, if you're gonna spend that 324 00:15:15,640 --> 00:15:18,120 Speaker 1: much money on an electric vehicle, you're saving money literally 325 00:15:18,120 --> 00:15:20,560 Speaker 1: from day one because of those maintenance costs are so 326 00:15:20,680 --> 00:15:23,360 Speaker 1: much lower. But when you're looking at more affordable e vs, 327 00:15:23,480 --> 00:15:25,760 Speaker 1: there actually is like a kind of break even point. 328 00:15:25,880 --> 00:15:28,840 Speaker 1: So don't automatically think that an electric vehicle is going 329 00:15:28,840 --> 00:15:31,240 Speaker 1: to be a slam dunk from the first mile that 330 00:15:31,240 --> 00:15:33,200 Speaker 1: you start driving it and of course this doesn't mean 331 00:15:33,240 --> 00:15:35,120 Speaker 1: too that you should go out tomorrow and buy a 332 00:15:35,160 --> 00:15:38,320 Speaker 1: new car, But the electric vehicles areieve I'm gonna go 333 00:15:38,360 --> 00:15:41,080 Speaker 1: on tomorrow, may not off the lot makes sense for you, 334 00:15:41,600 --> 00:15:44,880 Speaker 1: but yeah, you should definitely consider an electric vehicle instead 335 00:15:44,880 --> 00:15:46,680 Speaker 1: of a gas car next time you're looking to buy. 336 00:15:47,000 --> 00:15:48,920 Speaker 1: And again, you don't have to get a new one. 337 00:15:49,120 --> 00:15:51,080 Speaker 1: Buying us can make a lot of sense. You just 338 00:15:51,120 --> 00:15:54,000 Speaker 1: need to pay particular attention to the battery life before 339 00:15:54,240 --> 00:15:56,800 Speaker 1: you purchase that used model, because a five year old 340 00:15:56,840 --> 00:16:00,320 Speaker 1: electric vehicle might have lost it's it's battery could pacity. 341 00:16:00,680 --> 00:16:02,480 Speaker 1: But as long as that car works for how it 342 00:16:02,520 --> 00:16:04,560 Speaker 1: is that you're planning to drive, it can still make 343 00:16:04,600 --> 00:16:06,400 Speaker 1: a ton of sense as a purchase. If you're only 344 00:16:06,440 --> 00:16:08,440 Speaker 1: planning to just scoot around the city, if you're using 345 00:16:08,520 --> 00:16:10,840 Speaker 1: that to drop off the kids, you know that soccer 346 00:16:11,000 --> 00:16:12,760 Speaker 1: picked them up from school, that kind of thing. Well, 347 00:16:12,760 --> 00:16:15,400 Speaker 1: it doesn't really matter if the range has decreased a 348 00:16:15,440 --> 00:16:17,320 Speaker 1: good bit and not not as good for cross country 349 00:16:17,400 --> 00:16:20,320 Speaker 1: road trips, right yeah, uh, save that for like the 350 00:16:20,440 --> 00:16:23,120 Speaker 1: Tesla Long Range or something like that. Plus you can 351 00:16:23,200 --> 00:16:25,000 Speaker 1: use that as a way to negotiate the price down 352 00:16:25,320 --> 00:16:27,000 Speaker 1: that's the way that you can find a bargain and 353 00:16:27,040 --> 00:16:29,640 Speaker 1: also check to see if there's any warranty left on 354 00:16:29,680 --> 00:16:33,600 Speaker 1: the battery, because that can provide some additional peace of mind. Basically, 355 00:16:33,640 --> 00:16:36,360 Speaker 1: the longer that you're able to hang onto an electric vehicle, 356 00:16:36,400 --> 00:16:38,520 Speaker 1: the more savings that you're going to realize. Yep, and 357 00:16:38,560 --> 00:16:42,080 Speaker 1: it won't be long before our roads are indated with 358 00:16:42,080 --> 00:16:45,040 Speaker 1: electric cars. I mean, we'll see if it. We'll see 359 00:16:45,040 --> 00:16:47,360 Speaker 1: if it happens. They'll be fascinating to watch. We'll see 360 00:16:47,360 --> 00:16:49,720 Speaker 1: if we kind of ore ar trajectory takes on that 361 00:16:49,840 --> 00:16:53,000 Speaker 1: of Norway's um. But yeah, we we've got more headlines 362 00:16:53,040 --> 00:16:55,840 Speaker 1: to get to, including something really basic like the price 363 00:16:55,880 --> 00:16:58,320 Speaker 1: of a sandwich these days. How much has that come up? Well, 364 00:16:58,360 --> 00:17:10,159 Speaker 1: we'll talk about that and more right after this. Al Right, 365 00:17:10,200 --> 00:17:12,640 Speaker 1: we are back and we're gonna keep trucking along here. 366 00:17:12,720 --> 00:17:14,600 Speaker 1: This is our Friday flight where we are looking at 367 00:17:14,640 --> 00:17:16,840 Speaker 1: different stories and Joel, you know now it is time 368 00:17:17,280 --> 00:17:23,440 Speaker 1: for our ludicrous headline of the That was really good 369 00:17:24,160 --> 00:17:26,880 Speaker 1: was that like a drunk voice. Okay, if you would 370 00:17:26,880 --> 00:17:29,439 Speaker 1: have done a little burt there at the little little hiccup. 371 00:17:30,720 --> 00:17:32,720 Speaker 1: That was really good considering the story that we have 372 00:17:32,800 --> 00:17:35,800 Speaker 1: coming up here, which is one third of investors trade 373 00:17:36,119 --> 00:17:40,480 Speaker 1: while drunk. Yeah, this one comes from four one K specialist. 374 00:17:41,040 --> 00:17:43,240 Speaker 1: It's easier than ever to invest your money right. The 375 00:17:43,520 --> 00:17:46,000 Speaker 1: barriers to entry have mostly gone by the wayside. Uh, 376 00:17:46,000 --> 00:17:49,399 Speaker 1: folks can get started investing with just one dollar on 377 00:17:49,640 --> 00:17:51,680 Speaker 1: a lot of the different platforms. That wasn't the case 378 00:17:51,760 --> 00:17:54,000 Speaker 1: even just ten years ago. And we say this because 379 00:17:54,000 --> 00:17:58,760 Speaker 1: we feel that progress should be celebrated. But easy investing 380 00:17:59,240 --> 00:18:02,000 Speaker 1: definitely comes with a share of downsides. Um and I 381 00:18:02,080 --> 00:18:04,040 Speaker 1: didn't realize that this was one of them. That's will 382 00:18:04,080 --> 00:18:06,480 Speaker 1: Reading this article, which used data from a recent survey 383 00:18:06,560 --> 00:18:10,879 Speaker 1: by Magnify Money, apparently almost one and three investors have 384 00:18:11,000 --> 00:18:14,560 Speaker 1: made changes to their investments to their portfolio after hitting 385 00:18:15,080 --> 00:18:17,040 Speaker 1: the sauce a little a little hard in the evening. 386 00:18:17,880 --> 00:18:21,399 Speaker 1: It's terrible trading while drunk. It's it's actually probably likely 387 00:18:21,480 --> 00:18:23,560 Speaker 1: even worse than trading based on just a gut feeling, 388 00:18:23,760 --> 00:18:26,160 Speaker 1: uh something that maybe you know, you woke up, maybe 389 00:18:26,119 --> 00:18:28,160 Speaker 1: you had a dream and you're like, oh, I gotta 390 00:18:28,200 --> 00:18:30,520 Speaker 1: buy or I gotta sell it. You don't want that 391 00:18:30,600 --> 00:18:34,000 Speaker 1: to be how you invest, but unfortunately this is becoming 392 00:18:34,160 --> 00:18:37,960 Speaker 1: more common Yeah, apparently one third of overall investors admit 393 00:18:38,080 --> 00:18:41,440 Speaker 1: having done this, and two thirds of gen Z investors 394 00:18:41,480 --> 00:18:44,400 Speaker 1: actually made the confession to The survey really did shed 395 00:18:44,440 --> 00:18:47,600 Speaker 1: some light on the increased emotion that younger investors have 396 00:18:48,119 --> 00:18:51,560 Speaker 1: towards their investment port portfolio. There, you know, there's just 397 00:18:51,680 --> 00:18:54,080 Speaker 1: less of a barrier between them and how they feel 398 00:18:54,080 --> 00:18:56,760 Speaker 1: about the companies that are invested in. And two thirds 399 00:18:56,760 --> 00:19:00,800 Speaker 1: of all investors admitted to making decisions via an emotionally 400 00:19:01,000 --> 00:19:03,560 Speaker 1: charged decision like kind of on a whim or in 401 00:19:03,600 --> 00:19:06,359 Speaker 1: an emotional state. Um, you know, I'm not an an 402 00:19:06,400 --> 00:19:08,639 Speaker 1: emotional guy, Matt. I think of myself as in tune 403 00:19:08,680 --> 00:19:11,520 Speaker 1: with the things that are going on inside. But yeah, 404 00:19:11,720 --> 00:19:15,240 Speaker 1: many areas of our lives deserve our full emotional engagement, 405 00:19:15,240 --> 00:19:17,240 Speaker 1: Like when we're hanging out with our spouse, right, we 406 00:19:17,280 --> 00:19:20,280 Speaker 1: need to be emotionally engaged in that relationship. But other 407 00:19:20,320 --> 00:19:23,360 Speaker 1: places don't require nearly as much emotion, and it's far 408 00:19:23,400 --> 00:19:26,000 Speaker 1: better for us, I think to take emotion out of 409 00:19:26,040 --> 00:19:28,640 Speaker 1: our investing decisions to the greatest extent that we can. 410 00:19:29,080 --> 00:19:30,960 Speaker 1: And I think, you know, Matt, one of the things 411 00:19:30,960 --> 00:19:33,480 Speaker 1: you and I we've talked about creating a written investment 412 00:19:33,480 --> 00:19:36,000 Speaker 1: plan and sticking to it is one way to make 413 00:19:36,000 --> 00:19:38,720 Speaker 1: sure that your emotions are not interfering with those decisions. 414 00:19:39,119 --> 00:19:41,600 Speaker 1: And then we would say to take all the investing 415 00:19:41,640 --> 00:19:44,920 Speaker 1: apps off your phone. That might sound hardcore, like what 416 00:19:44,960 --> 00:19:46,280 Speaker 1: are you talking about, Like I want to check in 417 00:19:46,320 --> 00:19:48,640 Speaker 1: every now and again, but yeah, given the rapid rise 418 00:19:48,760 --> 00:19:52,840 Speaker 1: in off kilter investing habits like trading while you're inebriated, 419 00:19:53,080 --> 00:19:56,479 Speaker 1: it's crucial to create these helpful barriers so that you 420 00:19:56,560 --> 00:20:00,520 Speaker 1: don't make a regrettable, emotion induced decision that hurts your investments. 421 00:20:00,560 --> 00:20:01,840 Speaker 1: You don't want to have to be like four beers 422 00:20:01,880 --> 00:20:04,280 Speaker 1: deep and decide to like, you know, sell a holding 423 00:20:04,280 --> 00:20:06,800 Speaker 1: that you have, or yeah, you want to make sure 424 00:20:06,880 --> 00:20:09,320 Speaker 1: you have a well thought out strategic plan and you're 425 00:20:09,320 --> 00:20:11,479 Speaker 1: sticking to it. Yeah, it is not difficult to make 426 00:20:11,480 --> 00:20:14,639 Speaker 1: a dumb decision after you've had like four beers, So 427 00:20:14,680 --> 00:20:17,960 Speaker 1: that's something just generally speaking, we would recommend maybe you 428 00:20:18,000 --> 00:20:20,320 Speaker 1: just have one nicer beer like you and I have 429 00:20:20,359 --> 00:20:22,560 Speaker 1: on the show. You don't make any important decisions after 430 00:20:22,640 --> 00:20:25,600 Speaker 1: drinking four beers. And then we're both pretty hardcore about 431 00:20:25,640 --> 00:20:27,480 Speaker 1: the app thing as well. I have found it to 432 00:20:27,560 --> 00:20:30,080 Speaker 1: be so incredibly helpful because we keep some play money, 433 00:20:30,320 --> 00:20:32,840 Speaker 1: uh like in our robin Hood accounts and uh yeah, 434 00:20:32,920 --> 00:20:35,960 Speaker 1: keeping that off of the phone has been so critical 435 00:20:36,280 --> 00:20:39,200 Speaker 1: and a not thinking about it and be to remove 436 00:20:39,240 --> 00:20:41,760 Speaker 1: that temptation to to fiddle with it, maybe after just 437 00:20:41,840 --> 00:20:44,760 Speaker 1: reading a single headline, or maybe even just after having 438 00:20:44,880 --> 00:20:47,080 Speaker 1: one beer. Who knows, Joe. While we're talking about investing, 439 00:20:47,160 --> 00:20:50,680 Speaker 1: let's talk about investing fees. For a second, fee transparency. 440 00:20:50,760 --> 00:20:53,240 Speaker 1: This is still a real problem in the investing world. 441 00:20:53,400 --> 00:20:56,800 Speaker 1: We've been talking about this here on the podcast for years. Uh. 442 00:20:56,880 --> 00:21:00,680 Speaker 1: In a recent survey from State Street find that investors 443 00:21:00,680 --> 00:21:03,320 Speaker 1: who are working with an advisor, a financial advisor or 444 00:21:03,320 --> 00:21:06,400 Speaker 1: an investment advisor, they don't really know how their advisor 445 00:21:06,560 --> 00:21:09,919 Speaker 1: is making money. Many investors have no idea what the 446 00:21:09,920 --> 00:21:13,280 Speaker 1: fee structure is. They seem to think that fund expenses 447 00:21:13,440 --> 00:21:16,240 Speaker 1: are somehow rolled into what they are paying their advisor, 448 00:21:16,520 --> 00:21:18,920 Speaker 1: but that is actually not the case. They don't know 449 00:21:19,119 --> 00:21:21,560 Speaker 1: how they're paying for that advice. Yes, that is never good. 450 00:21:21,760 --> 00:21:24,240 Speaker 1: And Vanguard this week actually called for greater fund fee 451 00:21:24,280 --> 00:21:28,280 Speaker 1: transparency across the industry, and they stated that fund should 452 00:21:28,320 --> 00:21:31,400 Speaker 1: have labels similar to food labels that we can skim 453 00:21:31,440 --> 00:21:33,320 Speaker 1: with the grocery shove this idea, I love it too. 454 00:21:33,520 --> 00:21:36,199 Speaker 1: I think it's so smart, Like, I totally agree with that, 455 00:21:36,240 --> 00:21:38,560 Speaker 1: and I think like we should make that happen because 456 00:21:38,680 --> 00:21:42,960 Speaker 1: investors need more easily digestible information. There's just way too 457 00:21:43,000 --> 00:21:46,080 Speaker 1: much jargon in the industry and confusion is a real 458 00:21:46,119 --> 00:21:48,760 Speaker 1: problem for lots of investors. And anything we can do 459 00:21:48,800 --> 00:21:52,359 Speaker 1: to make the costs and benefits or or lack of 460 00:21:52,400 --> 00:21:55,480 Speaker 1: benefits for certain funds even clear, I think is a 461 00:21:55,520 --> 00:21:58,359 Speaker 1: good thing. People don't need someone else to make their 462 00:21:58,359 --> 00:22:01,120 Speaker 1: decision for them, but they do need the right tools 463 00:22:01,160 --> 00:22:03,360 Speaker 1: to help them make an informed one. And so yeah, 464 00:22:03,400 --> 00:22:04,840 Speaker 1: if you want to know more about what we think 465 00:22:04,880 --> 00:22:07,439 Speaker 1: about fees when it comes to your investments, check out 466 00:22:07,520 --> 00:22:11,280 Speaker 1: episode nine. We're generally against them. Uh, And I love 467 00:22:11,359 --> 00:22:13,760 Speaker 1: this food label idea, Matt. I think you know some 468 00:22:13,800 --> 00:22:16,000 Speaker 1: of these folks at Vanguard, they're onto something UM And 469 00:22:16,040 --> 00:22:19,400 Speaker 1: if that became an industry wide adoption, I'm sure there's 470 00:22:19,400 --> 00:22:21,959 Speaker 1: gonna be a lot of people fighting that for reasons 471 00:22:21,960 --> 00:22:25,280 Speaker 1: of personal gain UM. And obviously Vanguard would love it 472 00:22:25,320 --> 00:22:28,199 Speaker 1: because their fees are really low and investors would quickly 473 00:22:28,240 --> 00:22:32,160 Speaker 1: realize the benefits from investing there as opposed to maybe 474 00:22:32,200 --> 00:22:35,200 Speaker 1: with they're one are the funds that their financial advisor 475 00:22:35,280 --> 00:22:38,120 Speaker 1: wants to put them in. Exactly. That's right, Vanguard Fidelity. 476 00:22:38,160 --> 00:22:40,600 Speaker 1: They are the best when it comes to fees, Sigil. 477 00:22:40,720 --> 00:22:43,200 Speaker 1: Enough about investing for a minute, let's talk about the 478 00:22:43,320 --> 00:22:46,640 Speaker 1: super fun and engaging topic of inflation here for a second. 479 00:22:46,760 --> 00:22:49,240 Speaker 1: One of my favorites. Uh, I feel I mean, every week, 480 00:22:49,240 --> 00:22:50,920 Speaker 1: I feel like we have to weave in just a 481 00:22:50,960 --> 00:22:53,320 Speaker 1: little inflation story, right, but this line, this is gonna 482 00:22:53,320 --> 00:22:56,240 Speaker 1: be for from a more everyday kind of perspective. Friend 483 00:22:56,240 --> 00:22:59,359 Speaker 1: of the show, Lenn Penzo, Uh, he just releases kitschy 484 00:22:59,720 --> 00:23:03,399 Speaker 1: but on annual what he calls the brown Bag Lunch Survey. 485 00:23:03,880 --> 00:23:06,639 Speaker 1: It's not the most scientific survey out there, but he 486 00:23:07,119 --> 00:23:10,400 Speaker 1: gathers together food costs and you know, again it's cute 487 00:23:10,400 --> 00:23:13,000 Speaker 1: and it is helpful. But I think our big takeaway 488 00:23:13,040 --> 00:23:15,639 Speaker 1: from reading his article, reading his report or that sandwiches 489 00:23:15,680 --> 00:23:17,960 Speaker 1: are still pretty cheap for the most part. They are 490 00:23:18,000 --> 00:23:22,159 Speaker 1: more affordable now uh than they were in than the 491 00:23:22,240 --> 00:23:24,399 Speaker 1: overall you know, he kind of combines them into like 492 00:23:24,440 --> 00:23:27,520 Speaker 1: the sandwich index basically. And yeah, so even with all 493 00:23:27,560 --> 00:23:30,359 Speaker 1: the inflation, uh, talk that you've heard, You've heard us 494 00:23:30,359 --> 00:23:33,239 Speaker 1: talk about it. Sandwiches are still more affordable than they 495 00:23:33,240 --> 00:23:38,000 Speaker 1: were seven years ago, and so it's important to note that, uh, bologny, 496 00:23:38,400 --> 00:23:40,919 Speaker 1: peanut butter, and jelly, they are the too cheapest sandwich 497 00:23:41,160 --> 00:23:44,120 Speaker 1: varieties that you can find. Peanut butter is great, bologny 498 00:23:44,280 --> 00:23:46,600 Speaker 1: It kind of depends, right, how do you feel about blown? No, 499 00:23:46,680 --> 00:23:48,760 Speaker 1: I'm not into it, So I'd rather pay more for 500 00:23:48,800 --> 00:23:52,399 Speaker 1: a sandwich and it not be bologney. It depends. Okay, Okay, 501 00:23:52,560 --> 00:23:54,400 Speaker 1: Here's why I kind of hedge my bets with bologney 502 00:23:54,560 --> 00:23:57,320 Speaker 1: is because I will eat spam. Have I ever talked 503 00:23:57,320 --> 00:24:00,200 Speaker 1: to you about spam and and cream food? All? Yeah, 504 00:24:00,200 --> 00:24:02,600 Speaker 1: it's it's a rich regular and Korean food, isn't it. Yeah? So, 505 00:24:02,640 --> 00:24:05,159 Speaker 1: like okay, in cream food, especially here in the States, 506 00:24:05,440 --> 00:24:07,960 Speaker 1: there's this dish called kampop. It's kind of like the 507 00:24:08,040 --> 00:24:09,879 Speaker 1: Korean version of a sushi roll, where it like you 508 00:24:09,920 --> 00:24:12,119 Speaker 1: go the seaweed and you wrap it up. But especially 509 00:24:12,200 --> 00:24:15,480 Speaker 1: here in the US, oftentimes you use spam as the 510 00:24:15,480 --> 00:24:17,280 Speaker 1: protein and so you kind of cut it into these 511 00:24:17,280 --> 00:24:19,520 Speaker 1: long strips, you kind of fry it, kind of seer 512 00:24:19,560 --> 00:24:21,200 Speaker 1: it up on the on the pants. It's nice and crispy, 513 00:24:21,480 --> 00:24:22,720 Speaker 1: and you lay it in there and then you you 514 00:24:22,800 --> 00:24:25,359 Speaker 1: roll it up and it's really good. And so because 515 00:24:25,400 --> 00:24:27,680 Speaker 1: of that, I kind of have like a soft spot 516 00:24:27,680 --> 00:24:29,959 Speaker 1: in my heart for spam. A lot of folks will 517 00:24:30,000 --> 00:24:32,760 Speaker 1: trash talk it, but it all depends on how you 518 00:24:32,800 --> 00:24:34,560 Speaker 1: prepare it. And when you prepare it right and get 519 00:24:34,560 --> 00:24:37,199 Speaker 1: it nice and crispy like that, it's I mean, I 520 00:24:37,200 --> 00:24:39,119 Speaker 1: remember it not being all that different from bacon as 521 00:24:39,160 --> 00:24:42,240 Speaker 1: a kid, like bacon and like that crispy spam. I 522 00:24:42,320 --> 00:24:44,400 Speaker 1: kind of held them both at the same level. Wow, 523 00:24:44,480 --> 00:24:46,560 Speaker 1: it's as good as bacon. Well, I mean it's not 524 00:24:46,600 --> 00:24:48,400 Speaker 1: as good as but like as a kid, I felt 525 00:24:48,400 --> 00:24:50,639 Speaker 1: that way, and so because I will, I'll still eat it. 526 00:24:51,240 --> 00:24:53,240 Speaker 1: I remember visiting Hawaii and I was shocked to see 527 00:24:53,520 --> 00:24:55,399 Speaker 1: I knew they like spam over there. It's everywhere. They 528 00:24:55,400 --> 00:24:57,359 Speaker 1: even had it, like a bunch of different spam dishes 529 00:24:57,359 --> 00:25:00,320 Speaker 1: on the McDonald's menu. They like, Oh my mass impressive. Well. Yeah. 530 00:25:00,359 --> 00:25:02,560 Speaker 1: One of the things that Lenn didn't do in his 531 00:25:02,680 --> 00:25:06,040 Speaker 1: annual brown Bag Lunch survey is to compare across different 532 00:25:06,040 --> 00:25:08,280 Speaker 1: grocery stores. Right, he just kind of went to one 533 00:25:08,280 --> 00:25:11,560 Speaker 1: grocery store, bought stuff, came back and you know, put 534 00:25:11,600 --> 00:25:14,320 Speaker 1: together this methodology. So like I started this day survey 535 00:25:14,359 --> 00:25:16,040 Speaker 1: and I gotta keep doing it. I ain't gonna go 536 00:25:16,280 --> 00:25:18,440 Speaker 1: to a bunch of different stores, right, But obviously that's 537 00:25:18,440 --> 00:25:20,160 Speaker 1: going to have a major impact on the price too. 538 00:25:20,520 --> 00:25:22,359 Speaker 1: So yeah, one of the things worth mentioning is that 539 00:25:22,520 --> 00:25:25,680 Speaker 1: like aldi would in all likelihood results in the lowest 540 00:25:25,840 --> 00:25:28,359 Speaker 1: price average per sandwich if we were comparing grocery stores 541 00:25:28,400 --> 00:25:32,040 Speaker 1: a D for president. And another thing that's worth noting is, 542 00:25:32,280 --> 00:25:34,440 Speaker 1: you know, depending on what's happening in the sales fire 543 00:25:34,480 --> 00:25:37,200 Speaker 1: at your grocery store, right, being willing to swap sandwich 544 00:25:37,200 --> 00:25:40,200 Speaker 1: types based on the current cost of certain items could 545 00:25:40,200 --> 00:25:42,720 Speaker 1: be a helpful strategy too, because like let's say peanut 546 00:25:42,760 --> 00:25:44,879 Speaker 1: butter is buy one, get one. Well in stock up, 547 00:25:44,880 --> 00:25:46,719 Speaker 1: you're eating peanut butter sandwiches for a while, peanut butter 548 00:25:46,760 --> 00:25:48,359 Speaker 1: and jelly, and it's like a better will keep for 549 00:25:48,400 --> 00:25:50,320 Speaker 1: like five years. Yeah. Yeah, and then if like tuna 550 00:25:50,480 --> 00:25:52,680 Speaker 1: is cheaper the next week, like grab a few extra cans. 551 00:25:52,880 --> 00:25:55,280 Speaker 1: But yeah, I use sales cycles to your advantage. I 552 00:25:55,320 --> 00:25:58,879 Speaker 1: think that's that's always smart. That's something I try to do, 553 00:25:59,359 --> 00:26:02,280 Speaker 1: and I I'm willing to stock up on something if 554 00:26:02,320 --> 00:26:05,200 Speaker 1: it's cheap enough, like if it's if the discount is 555 00:26:05,240 --> 00:26:08,440 Speaker 1: substantial enough. Yeah, I totally I'm a stock up kind 556 00:26:08,440 --> 00:26:09,880 Speaker 1: of guy. Y'all are in the middle of a little 557 00:26:09,880 --> 00:26:11,480 Speaker 1: renovation at your house. I feel like what you need 558 00:26:11,520 --> 00:26:14,879 Speaker 1: to plan for is like a costco closet. So basically, 559 00:26:15,760 --> 00:26:18,440 Speaker 1: anything that you do, you know that is on sale 560 00:26:18,520 --> 00:26:19,840 Speaker 1: or it's but I want to get one like that. 561 00:26:19,960 --> 00:26:23,000 Speaker 1: You don't want to keep multiple giant bulk things easily 562 00:26:23,000 --> 00:26:25,080 Speaker 1: accessible in your kitchen. You want to put that somewhere 563 00:26:25,080 --> 00:26:26,760 Speaker 1: in a closet. That's what you need, all right, I'll 564 00:26:26,760 --> 00:26:29,280 Speaker 1: talk to our contractor that. I think that'll keep plying 565 00:26:29,359 --> 00:26:32,080 Speaker 1: that in Emily happier too, I'm sure. Lastly, let's talk 566 00:26:32,119 --> 00:26:35,480 Speaker 1: about saving on the cost of homeowners and on car insurance. 567 00:26:35,800 --> 00:26:37,879 Speaker 1: The Law Street Journal they had an article about that 568 00:26:37,920 --> 00:26:40,160 Speaker 1: this week. We've actually got an article up on our 569 00:26:40,240 --> 00:26:42,440 Speaker 1: site with kind of what we think are the best 570 00:26:42,440 --> 00:26:44,560 Speaker 1: ways to save on insurance as well, and willing to 571 00:26:44,560 --> 00:26:47,160 Speaker 1: that in our show notes. But as insurance rates are rising, 572 00:26:47,200 --> 00:26:49,760 Speaker 1: there are things that you can and should do about it. 573 00:26:49,960 --> 00:26:52,760 Speaker 1: We're big fans of shopping around and getting quotes from 574 00:26:52,760 --> 00:26:55,120 Speaker 1: other companies. Uh, that's going to be how you are 575 00:26:55,200 --> 00:26:57,320 Speaker 1: likely to save the most money. Uh. And we would 576 00:26:57,320 --> 00:26:59,960 Speaker 1: recommend that at a site like Policy Genius, but another 577 00:27:00,080 --> 00:27:02,040 Speaker 1: you could do that as well as ask an independent 578 00:27:02,119 --> 00:27:05,199 Speaker 1: agent to shop around for you. And it also wouldn't 579 00:27:05,240 --> 00:27:07,439 Speaker 1: hurt to call a couple of other insurance companies for 580 00:27:07,520 --> 00:27:10,920 Speaker 1: quotes also, Joel, I've got a little confession to make. 581 00:27:10,920 --> 00:27:13,040 Speaker 1: One of the ways I am going to lower the 582 00:27:13,080 --> 00:27:15,719 Speaker 1: cost of my car insurance literally today, as soon as 583 00:27:15,720 --> 00:27:19,040 Speaker 1: we get off work, I'm gonna drop the collision coverage 584 00:27:19,280 --> 00:27:22,440 Speaker 1: that I have on our van. I added collision maybe 585 00:27:22,440 --> 00:27:24,480 Speaker 1: a few years ago we were doing some work to 586 00:27:24,520 --> 00:27:27,680 Speaker 1: our house. Actually in our emergency fund wasn't as robust 587 00:27:27,800 --> 00:27:30,440 Speaker 1: as it could have been. Uh, And I thought, you know, what, 588 00:27:30,840 --> 00:27:32,920 Speaker 1: were we to actually get into an accident, I don't 589 00:27:32,920 --> 00:27:35,760 Speaker 1: wanna have to pay to replace an expensive odyssey like 590 00:27:35,800 --> 00:27:38,119 Speaker 1: on Odysseis are expensive, and so for us, that was 591 00:27:38,160 --> 00:27:39,760 Speaker 1: one way I was I was able to pay a 592 00:27:39,840 --> 00:27:41,960 Speaker 1: little bit more year to year but mitigate that risk. 593 00:27:42,280 --> 00:27:44,679 Speaker 1: But now that our emergency fund, I mean, it's it's 594 00:27:44,720 --> 00:27:47,480 Speaker 1: back to feeling pretty jacked. Uh. I need to drop 595 00:27:47,520 --> 00:27:49,760 Speaker 1: that collision auto coverage because that is something that we 596 00:27:49,800 --> 00:27:51,840 Speaker 1: can save money on every single year. And of course 597 00:27:51,840 --> 00:27:54,600 Speaker 1: we wouldn't have a problem replacing that vehicle were we 598 00:27:54,720 --> 00:27:57,720 Speaker 1: to wreck it. Uh. Now that's a risk that we 599 00:27:57,720 --> 00:27:59,199 Speaker 1: would be willing to take it. And that's what insurance 600 00:27:59,240 --> 00:28:00,959 Speaker 1: is all about. Right, you're weighing the risks and you're 601 00:28:00,960 --> 00:28:03,320 Speaker 1: weighing the costs. Yeah, so report back. Let us know 602 00:28:03,320 --> 00:28:05,520 Speaker 1: how much you're able to save by doing that. Yeah, 603 00:28:05,600 --> 00:28:08,160 Speaker 1: that's um. Next Friday, I'll share. Okay, Yeah, that's good. 604 00:28:08,200 --> 00:28:09,960 Speaker 1: That that's a good way to save. You know, I 605 00:28:10,000 --> 00:28:12,720 Speaker 1: don't know, maybe a hundred hundred fifty bucks every year. 606 00:28:12,920 --> 00:28:15,480 Speaker 1: I'm curious to see how much. And other ways to say, 607 00:28:15,520 --> 00:28:18,200 Speaker 1: let's talk about that. Consider choosing a higher deductible. Two. 608 00:28:18,480 --> 00:28:21,400 Speaker 1: Having solid savings, Matt, like you said, and self ensuring 609 00:28:21,640 --> 00:28:24,000 Speaker 1: is key to lowering those premiums. So the more money 610 00:28:24,080 --> 00:28:26,080 Speaker 1: that you have on hand, the more you can afford 611 00:28:26,119 --> 00:28:28,760 Speaker 1: to pay a higher deductible if you're in an accident. Also, 612 00:28:28,880 --> 00:28:32,400 Speaker 1: paying those premiums in a lump sum will often lower 613 00:28:32,440 --> 00:28:34,640 Speaker 1: the costs. You know, I pay my car insurance six 614 00:28:34,680 --> 00:28:37,520 Speaker 1: months at a time to avoid additional fees for paying 615 00:28:37,520 --> 00:28:40,440 Speaker 1: it on a monthly basis, And it's also crucial to 616 00:28:40,600 --> 00:28:42,960 Speaker 1: ask for additional discounts if you work with an agent, 617 00:28:43,320 --> 00:28:46,240 Speaker 1: you know, harangue them via email and trying to see 618 00:28:46,240 --> 00:28:49,160 Speaker 1: what discounts are available that that you aren't curring currently 619 00:28:49,200 --> 00:28:52,840 Speaker 1: having applied to your policy, right, Like, I've definitely pestored 620 00:28:52,880 --> 00:28:54,640 Speaker 1: my agent over the years, Matt, trying to find ways 621 00:28:54,640 --> 00:28:56,920 Speaker 1: that I could pay less and it works like those 622 00:28:56,920 --> 00:29:00,280 Speaker 1: discounts really do add up to the best. One think 623 00:29:00,280 --> 00:29:03,440 Speaker 1: that the biggest percentage discount is when people take a 624 00:29:03,480 --> 00:29:06,800 Speaker 1: defensive driving course, and there's actually most of those you 625 00:29:06,840 --> 00:29:08,960 Speaker 1: have to go in person, at least from my experience. 626 00:29:09,200 --> 00:29:12,680 Speaker 1: But I found that a r P has a course 627 00:29:12,800 --> 00:29:15,440 Speaker 1: on their websites and it costs like twenty five bucks 628 00:29:15,480 --> 00:29:17,680 Speaker 1: to do it, and I ended up getting like a 629 00:29:17,760 --> 00:29:20,640 Speaker 1: three year discount applied for taking that online course. It 630 00:29:20,680 --> 00:29:22,960 Speaker 1: took me, I don't even remember, like an hour or 631 00:29:23,000 --> 00:29:26,040 Speaker 1: so to complete, and well worth it because then you're 632 00:29:26,080 --> 00:29:29,520 Speaker 1: talking about three years worth of savings. So yeah, make 633 00:29:29,520 --> 00:29:32,440 Speaker 1: sure you check with your agent or with your insurance 634 00:29:32,480 --> 00:29:34,680 Speaker 1: company before you know you spend that time and spend 635 00:29:34,720 --> 00:29:38,640 Speaker 1: that money. Um, But if bucks can save you like 636 00:29:38,680 --> 00:29:40,760 Speaker 1: it's definitely worth it exactly. So that's gonna be it 637 00:29:40,840 --> 00:29:43,200 Speaker 1: for this Friday flight. We hope everyone has a great weekend. 638 00:29:43,240 --> 00:29:44,880 Speaker 1: We'll see you back here on Monday. We've got a 639 00:29:44,920 --> 00:29:48,400 Speaker 1: good listener questions ask how the money episode lined up 640 00:29:48,440 --> 00:29:51,280 Speaker 1: for you, so Joel, Until next time, best friends out, 641 00:29:51,440 --> 00:30:02,840 Speaker 1: best friends out. Mmmmmm