1 00:00:00,080 --> 00:00:03,200 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt, 2 00:00:03,279 --> 00:00:07,160 Speaker 1: and today we're talking Netflix crackdown, big game gambling and 3 00:00:07,280 --> 00:00:29,840 Speaker 1: reduced tax refunds. That's right, big game gambling. We can't 4 00:00:29,880 --> 00:00:32,959 Speaker 1: say the Super Bowl. You just did it. Now we're 5 00:00:32,960 --> 00:00:34,760 Speaker 1: gonna get sued. We can't say super Bowl gambling. We 6 00:00:34,800 --> 00:00:37,559 Speaker 1: got our league. You gotta say big game. Now. This 7 00:00:37,640 --> 00:00:39,239 Speaker 1: is our Friday flight where we are going to talk 8 00:00:39,280 --> 00:00:41,640 Speaker 1: about some of our favorite headlines from this week that 9 00:00:41,880 --> 00:00:44,400 Speaker 1: we think you need to be paying attention to. But first, Joel, 10 00:00:44,640 --> 00:00:50,199 Speaker 1: our newsletter referrals are now live. So Tuesday, we we 11 00:00:50,400 --> 00:00:52,640 Speaker 1: just launched. We've had our newsletter going for what like 12 00:00:52,640 --> 00:00:55,200 Speaker 1: eight d the newsletter exactly. We switched to a new 13 00:00:55,800 --> 00:00:57,880 Speaker 1: basically instead of mail trip now we're using the service 14 00:00:57,880 --> 00:01:00,000 Speaker 1: called behind give them the details they don't need an 15 00:01:00,000 --> 00:01:03,000 Speaker 1: know about. Like the reason tells you to know is that, 16 00:01:03,080 --> 00:01:06,080 Speaker 1: like likely, it looked different, it looked better, and there's 17 00:01:06,120 --> 00:01:08,280 Speaker 1: a reason to look better. The biggest reason, which I 18 00:01:08,280 --> 00:01:10,840 Speaker 1: think you're getting to, is that they include referrals, the 19 00:01:10,840 --> 00:01:14,160 Speaker 1: ability to refer the newsletter to friends and family. And 20 00:01:14,160 --> 00:01:15,920 Speaker 1: not only you can always do that, you always forward 21 00:01:15,959 --> 00:01:18,119 Speaker 1: it along, but now you can get rewarded for telling 22 00:01:18,160 --> 00:01:21,280 Speaker 1: your friends about We've got different reward levels, whether it's 23 00:01:21,319 --> 00:01:24,039 Speaker 1: like a beer on us or whether it's a pair 24 00:01:24,080 --> 00:01:27,080 Speaker 1: of how the Money socks? You can last level you 25 00:01:27,080 --> 00:01:29,200 Speaker 1: actually don't tell them, they'll tell them. Okay, go check 26 00:01:29,200 --> 00:01:31,080 Speaker 1: it out. If you want to know what it is. 27 00:01:31,120 --> 00:01:33,320 Speaker 1: A you have to be signed up for the newsletter, 28 00:01:33,360 --> 00:01:35,759 Speaker 1: go to how do Money dot com forward slash newsletter 29 00:01:35,840 --> 00:01:38,440 Speaker 1: to check that out. But then next time you receive 30 00:01:38,640 --> 00:01:41,479 Speaker 1: a newsletter, there's a link there for your referral hub 31 00:01:41,880 --> 00:01:44,160 Speaker 1: and that will allow you to to see some of 32 00:01:44,200 --> 00:01:46,360 Speaker 1: the different offerings there. So if you've got a few 33 00:01:46,360 --> 00:01:47,960 Speaker 1: friends or family and you're like, I think they would 34 00:01:47,960 --> 00:01:50,880 Speaker 1: like it, well, now you're actually incentivized to share that stuff. 35 00:01:50,880 --> 00:01:53,560 Speaker 1: And so the actually the first year, the first is 36 00:01:53,600 --> 00:01:55,360 Speaker 1: you're going to get a shout out on the podcast 37 00:01:55,360 --> 00:01:58,080 Speaker 1: and and four people already this week, even though we 38 00:01:58,200 --> 00:02:00,240 Speaker 1: just started it this week, I've already reached that first here. 39 00:02:00,240 --> 00:02:03,840 Speaker 1: And so Walter K, Brendan H. Bre S and Katia 40 00:02:03,960 --> 00:02:06,040 Speaker 1: in thank you so much for what you get a 41 00:02:06,040 --> 00:02:08,040 Speaker 1: little shot out on the Friday flight when when you 42 00:02:08,120 --> 00:02:11,320 Speaker 1: meet that first here. So all four of them referred 43 00:02:11,360 --> 00:02:14,240 Speaker 1: the newsletters to at least three folks. Some of them 44 00:02:14,240 --> 00:02:18,040 Speaker 1: have actually they're working towards the next level already. Again, 45 00:02:18,080 --> 00:02:20,880 Speaker 1: I'm wondering, did we set the bar too low. We 46 00:02:20,919 --> 00:02:24,800 Speaker 1: wanted to be attainable enough, obviously to where folks are encouraged. 47 00:02:25,040 --> 00:02:26,400 Speaker 1: We don't want to set the bar too high to 48 00:02:26,400 --> 00:02:28,200 Speaker 1: where it's like, oh, I'm never gonna get there a 49 00:02:28,240 --> 00:02:31,600 Speaker 1: million referrals. That's not gonna happen. Well, okay, so yeah, 50 00:02:31,600 --> 00:02:33,919 Speaker 1: big thanks to everybody for for being part of the newsletter. 51 00:02:34,280 --> 00:02:36,919 Speaker 1: It's again, it's it's thank you you for it's free. 52 00:02:36,960 --> 00:02:39,560 Speaker 1: It comes out every Tuesday, and we want we just 53 00:02:39,600 --> 00:02:42,360 Speaker 1: want to give out good money advice. However people like 54 00:02:42,400 --> 00:02:44,360 Speaker 1: to access it. Not everyone likes to listen to podcasts, right, 55 00:02:44,400 --> 00:02:46,840 Speaker 1: and so some people prefer something landing in their inbox 56 00:02:46,919 --> 00:02:49,359 Speaker 1: give it a quick read every Tuesday morning. So if 57 00:02:49,360 --> 00:02:51,600 Speaker 1: that's your preference, then yeah, check that out as well. 58 00:02:51,639 --> 00:02:53,600 Speaker 1: But I also wanted to mention Matt just kind of 59 00:02:53,639 --> 00:02:56,560 Speaker 1: a housekeeping note is there's like a fake kind of 60 00:02:56,560 --> 00:03:00,400 Speaker 1: money Instagram account making the runs right right now, a 61 00:03:00,400 --> 00:03:03,480 Speaker 1: bunch of listening. Once you start getting some fake accounts, 62 00:03:03,600 --> 00:03:06,839 Speaker 1: I guess. So yeah, maybe feel good, but I felt 63 00:03:06,840 --> 00:03:09,000 Speaker 1: bad for our listeners who are getting bombarded with d 64 00:03:09,240 --> 00:03:11,960 Speaker 1: m s like telling them you like you know about 65 00:03:11,960 --> 00:03:14,720 Speaker 1: some passive investments I set you for life. Don't click 66 00:03:14,720 --> 00:03:17,960 Speaker 1: those links. I think everyone listening here knows that. But 67 00:03:18,080 --> 00:03:21,520 Speaker 1: if you don't mind, click the link where you are 68 00:03:21,560 --> 00:03:24,239 Speaker 1: able to report that fake account. We've already done that, 69 00:03:24,280 --> 00:03:26,200 Speaker 1: and hopefully Instagram will take that down soon, but it 70 00:03:26,280 --> 00:03:28,480 Speaker 1: mainly it takes a couple of days. Sometimes Instagram moves 71 00:03:28,520 --> 00:03:30,680 Speaker 1: so slow, and the fact that they still have so 72 00:03:31,160 --> 00:03:34,560 Speaker 1: many scam and bought accounts on that service is just ridiculous. 73 00:03:34,600 --> 00:03:36,160 Speaker 1: I can't believe they can't get it under control. So 74 00:03:36,160 --> 00:03:38,560 Speaker 1: hopefully they get it under control. But yeah, until then, 75 00:03:39,040 --> 00:03:41,880 Speaker 1: be careful when somebody that looks like us reaches out 76 00:03:41,880 --> 00:03:44,400 Speaker 1: to you. We we don't reach out and ask for stuff. 77 00:03:44,800 --> 00:03:47,840 Speaker 1: So if they ask for something, ask for your personal information. 78 00:03:48,120 --> 00:03:51,080 Speaker 1: They're asking for you to participate in their investing scam. 79 00:03:51,360 --> 00:03:53,200 Speaker 1: Don't do it. But mat, let's move on. Let's get 80 00:03:53,200 --> 00:03:55,280 Speaker 1: to the Friday Flight. It's a sampling of stories we 81 00:03:55,320 --> 00:03:58,280 Speaker 1: found interesting this week, and let's start off by talking 82 00:03:58,320 --> 00:04:01,400 Speaker 1: about Netflix for a second, because I feel like they've 83 00:04:01,440 --> 00:04:05,280 Speaker 1: been their announcement about cracking down a password sharing. I 84 00:04:05,280 --> 00:04:08,160 Speaker 1: guess it was like Friday, like so after we had 85 00:04:08,200 --> 00:04:10,480 Speaker 1: already released our Friday flight. That's when we heard the 86 00:04:10,480 --> 00:04:12,600 Speaker 1: news last week. But you and I we haven't touched 87 00:04:12,600 --> 00:04:15,320 Speaker 1: on it. But they have for a lot the longest time, 88 00:04:15,320 --> 00:04:19,200 Speaker 1: they've encouraged passwords sharing amongst their customers. In fact, one 89 00:04:19,240 --> 00:04:20,920 Speaker 1: of the early tweets I think was saying that they 90 00:04:20,960 --> 00:04:24,120 Speaker 1: said something like love is sharing a password. They don't 91 00:04:24,120 --> 00:04:26,600 Speaker 1: feel that way anymore now. They now they think that 92 00:04:26,600 --> 00:04:28,919 Speaker 1: you're trying to destroy their bottom line when you share passwords. 93 00:04:28,920 --> 00:04:31,880 Speaker 1: And so it looks like they're about the institute new 94 00:04:31,960 --> 00:04:35,680 Speaker 1: rules cracking down on customers sharing passwords, and this could 95 00:04:35,760 --> 00:04:39,400 Speaker 1: happen as early as next month. They're currently testing some 96 00:04:39,480 --> 00:04:42,560 Speaker 1: of these rules in South American countries like Chile and Peru. 97 00:04:42,600 --> 00:04:45,000 Speaker 1: I think maybe Canada went live too. There's a there's 98 00:04:45,000 --> 00:04:48,080 Speaker 1: a Canada earlier this week. Earlier this week. Yeah. So 99 00:04:48,360 --> 00:04:51,839 Speaker 1: they're interesting things like location tracking, which can impact people 100 00:04:51,880 --> 00:04:54,039 Speaker 1: trying to access their account while they're on the road 101 00:04:54,160 --> 00:04:57,400 Speaker 1: or on vacation. So how well this is going to 102 00:04:57,440 --> 00:05:00,359 Speaker 1: actually play out and how annoyed customers are going to 103 00:05:00,440 --> 00:05:03,480 Speaker 1: get remains to be seen. And I'm not against Netflix 104 00:05:03,560 --> 00:05:06,200 Speaker 1: updating its terms of service and trying to end some 105 00:05:06,240 --> 00:05:09,279 Speaker 1: of the password sharing that they used to kind of instigate. 106 00:05:09,360 --> 00:05:11,680 Speaker 1: Like they can, they can change their stance on this, 107 00:05:11,720 --> 00:05:13,599 Speaker 1: they can flip flop a little bit. But I sure 108 00:05:13,640 --> 00:05:15,320 Speaker 1: hope they figure out a way to do it without 109 00:05:15,360 --> 00:05:18,120 Speaker 1: annoying everyone in the process, because right now, I'm not 110 00:05:18,160 --> 00:05:19,760 Speaker 1: so sure they're gonna be able to pull it off. 111 00:05:19,920 --> 00:05:21,479 Speaker 1: It looks like, or it seems like it will be 112 00:05:21,480 --> 00:05:23,839 Speaker 1: like two factor authentication, right like where you log in 113 00:05:24,040 --> 00:05:25,800 Speaker 1: and you re see the text message with the four 114 00:05:25,800 --> 00:05:27,480 Speaker 1: digit code and you gotta punch that in within a 115 00:05:27,520 --> 00:05:29,760 Speaker 1: certain amount of time, like that whole thing. Basically, they're 116 00:05:29,760 --> 00:05:31,400 Speaker 1: trying to make it more annoying for you to have 117 00:05:31,880 --> 00:05:35,360 Speaker 1: pestor whoever it is. That's like get on the phone 118 00:05:35,400 --> 00:05:38,680 Speaker 1: with my mom Netflix, sugar Mama or Sugar Daddy. But 119 00:05:39,040 --> 00:05:41,800 Speaker 1: which honestly, it makes sense because that will probably cause 120 00:05:41,800 --> 00:05:43,360 Speaker 1: a lot of folks to throw in the town and 121 00:05:43,640 --> 00:05:45,039 Speaker 1: be like, you know what, it's time maybe for me 122 00:05:45,120 --> 00:05:47,440 Speaker 1: to actually get my own account. Obviously that's what Netflix 123 00:05:47,480 --> 00:05:49,799 Speaker 1: is counting on. But you know, we're always talking about 124 00:05:49,800 --> 00:05:52,520 Speaker 1: how folks are subscribed to too many of the different 125 00:05:52,520 --> 00:05:55,040 Speaker 1: subscription services out there. Like we, we live in a 126 00:05:55,080 --> 00:05:58,160 Speaker 1: world of subscription overload at this point. And if Netflix 127 00:05:58,200 --> 00:05:59,920 Speaker 1: tries to tell you that you gotta pay that big 128 00:06:00,000 --> 00:06:03,039 Speaker 1: your monthly fee starting in the near future, tell them 129 00:06:03,040 --> 00:06:05,800 Speaker 1: to get lost, tell them to suck it, uh, and 130 00:06:05,880 --> 00:06:09,240 Speaker 1: you can cancel your service with Netflix. Personally, we don't 131 00:06:09,240 --> 00:06:12,280 Speaker 1: have any hatred for the different streaming companies out there. 132 00:06:12,480 --> 00:06:15,560 Speaker 1: We like streaming entertainments, but they aren't loyal to you, 133 00:06:15,880 --> 00:06:18,760 Speaker 1: and there's no need for you to feel any loyalty 134 00:06:18,800 --> 00:06:22,880 Speaker 1: to them because you can always resubscribe, oftentimes at a 135 00:06:22,920 --> 00:06:25,640 Speaker 1: discounted rate for three to six months down the road 136 00:06:25,880 --> 00:06:27,599 Speaker 1: if there is a show or if there's a movie 137 00:06:27,880 --> 00:06:30,080 Speaker 1: that you want to watch on that particular app or 138 00:06:30,080 --> 00:06:32,400 Speaker 1: that service, and then after you watch that, when you 139 00:06:32,440 --> 00:06:35,200 Speaker 1: get through that season, you can always cancel again as 140 00:06:35,200 --> 00:06:38,480 Speaker 1: well to save money. Agreed. So Netflix has every right 141 00:06:38,520 --> 00:06:40,640 Speaker 1: to say we're trying to squeeze more money on a subscribers. 142 00:06:40,680 --> 00:06:42,039 Speaker 1: We want people to pay their fair share. We don't 143 00:06:42,080 --> 00:06:46,800 Speaker 1: like password sharing anymore. But then their current subscribers have 144 00:06:46,960 --> 00:06:49,680 Speaker 1: the ability to revolt and say peace out. I guess what, 145 00:06:49,720 --> 00:06:52,240 Speaker 1: We've got other options for where to watch stuff, and 146 00:06:52,360 --> 00:06:54,200 Speaker 1: I get you know, Netflix spent way too much money 147 00:06:54,240 --> 00:06:57,640 Speaker 1: developing some of their content. Remember when they released The Irishman. 148 00:06:57,800 --> 00:06:59,760 Speaker 1: I still remember how much did it cost? It costs 149 00:07:00,200 --> 00:07:02,520 Speaker 1: a millions of dollars to make that movie anti age 150 00:07:03,040 --> 00:07:05,960 Speaker 1: those guys, Yes, which felt assert at the time, and 151 00:07:06,160 --> 00:07:08,560 Speaker 1: but now they're that their chickens are coming home to roost. 152 00:07:08,560 --> 00:07:10,320 Speaker 1: They spent too much on some of the content and 153 00:07:10,320 --> 00:07:12,600 Speaker 1: they've got to figure out a way to pay that. 154 00:07:12,680 --> 00:07:15,520 Speaker 1: Being said, I'm still looking to several season two, but 155 00:07:15,640 --> 00:07:18,559 Speaker 1: whatever that season Apple raised their price too, right, Yeah, 156 00:07:18,840 --> 00:07:21,960 Speaker 1: basically what folks did to get better at canceling and 157 00:07:22,040 --> 00:07:24,640 Speaker 1: resigning up for different services, because like you'll sign up 158 00:07:24,640 --> 00:07:26,280 Speaker 1: for several season two, you'll pay for a month or 159 00:07:26,280 --> 00:07:28,280 Speaker 1: two and then can be done again exactly. Uh, And 160 00:07:28,320 --> 00:07:30,680 Speaker 1: we want that to be a pattern of behavior that 161 00:07:30,720 --> 00:07:32,520 Speaker 1: you're able to implement. We want it to be something 162 00:07:32,520 --> 00:07:34,120 Speaker 1: not that you just do once and you can completely 163 00:07:34,120 --> 00:07:37,800 Speaker 1: forget about, but that that signing up in that canceling process, 164 00:07:37,880 --> 00:07:40,120 Speaker 1: that we want that dynamic behavior to be a part 165 00:07:40,240 --> 00:07:43,160 Speaker 1: of how it is that you spend and not spend 166 00:07:43,160 --> 00:07:45,520 Speaker 1: your money. Yeah, for sure, alright. One other place where 167 00:07:45,560 --> 00:07:47,800 Speaker 1: you might go watch something would be in the movie theater. 168 00:07:48,520 --> 00:07:50,720 Speaker 1: Not me. I don't really watch movies in the movie theater. 169 00:07:50,720 --> 00:07:52,320 Speaker 1: It's been a long time. I think I've seen like 170 00:07:52,360 --> 00:07:54,400 Speaker 1: two movies in the theater in the past like five years. 171 00:07:54,560 --> 00:07:56,320 Speaker 1: But AMC announced this week that they're going to be 172 00:07:56,360 --> 00:07:58,920 Speaker 1: charging more to watch movies. They go all fashion way 173 00:07:58,960 --> 00:08:01,200 Speaker 1: in the theater at East if you want seats in 174 00:08:01,240 --> 00:08:02,960 Speaker 1: the middle of the theater, if you want the good ones. 175 00:08:03,480 --> 00:08:05,120 Speaker 1: There's a silver lining to this. The good news is 176 00:08:05,160 --> 00:08:07,400 Speaker 1: that you might actually be able to pay less by 177 00:08:07,440 --> 00:08:09,840 Speaker 1: sitting in the seats that most folks want to avoid, 178 00:08:10,320 --> 00:08:12,560 Speaker 1: which are mostly the ones right in front of the 179 00:08:12,600 --> 00:08:14,720 Speaker 1: screens and then the ones off far off to the sides. 180 00:08:15,320 --> 00:08:17,280 Speaker 1: So I guess I don't know, Matt, for you, would 181 00:08:17,320 --> 00:08:19,880 Speaker 1: it be worth saving a few bucks in order to 182 00:08:19,960 --> 00:08:21,600 Speaker 1: have like neck pain, because you said in like first 183 00:08:21,640 --> 00:08:23,920 Speaker 1: or second round, if you're well the thing, if you're 184 00:08:23,960 --> 00:08:25,720 Speaker 1: sitting super close and you can just like lean back 185 00:08:25,720 --> 00:08:27,200 Speaker 1: and rest your head like on the back of the 186 00:08:27,200 --> 00:08:28,920 Speaker 1: head arrest. I don't know. That kind of sounds nice, 187 00:08:28,960 --> 00:08:32,280 Speaker 1: all right, but then I'd likely fall asleep as I 188 00:08:32,280 --> 00:08:35,080 Speaker 1: haven't set that close in a long time. See soone 189 00:08:35,120 --> 00:08:36,920 Speaker 1: frequently I would say, pay more to get a decent 190 00:08:37,000 --> 00:08:39,160 Speaker 1: same thing. Do I mean you've seen movies more recently 191 00:08:39,200 --> 00:08:41,200 Speaker 1: than I have. Like the last movie that I went 192 00:08:41,240 --> 00:08:42,920 Speaker 1: to literally in the theater was when I took the 193 00:08:42,960 --> 00:08:47,240 Speaker 1: girls to go see Frozen two, which forever ago. Yeah, 194 00:08:47,320 --> 00:08:49,080 Speaker 1: that's right, that was like five years ago or something. Yeah, 195 00:08:49,520 --> 00:08:52,400 Speaker 1: the TV's have gotten so nice, and the at home experience, 196 00:08:52,920 --> 00:08:55,400 Speaker 1: I really like popping some popcorn and making my own 197 00:08:55,840 --> 00:08:59,480 Speaker 1: jack and coke. Like that's a pretty nice experience, it 198 00:08:59,559 --> 00:09:02,000 Speaker 1: asked me. Honestly, I am okay though with the fact 199 00:09:02,040 --> 00:09:04,840 Speaker 1: that movie theaters or that AMC specifically is doing this, 200 00:09:05,000 --> 00:09:06,880 Speaker 1: because there are some folks who are complaining and they're 201 00:09:06,920 --> 00:09:09,599 Speaker 1: they're saying, oh my gosh, yet another industry that is 202 00:09:09,640 --> 00:09:11,800 Speaker 1: going in the direction of trying to milk every single 203 00:09:11,800 --> 00:09:14,120 Speaker 1: dollar that they can out of folks. I saw like 204 00:09:14,200 --> 00:09:17,720 Speaker 1: movie stars, like celebrities touting this line, basically saying that like, no, 205 00:09:17,960 --> 00:09:20,160 Speaker 1: everybody needs to have the right to be able to 206 00:09:20,200 --> 00:09:21,840 Speaker 1: go to the movie theater pay the same price, and 207 00:09:22,200 --> 00:09:24,800 Speaker 1: we all don't have that right already. It's so prohibitively expense. 208 00:09:24,880 --> 00:09:27,200 Speaker 1: It is. It is, but so like, on one hand, 209 00:09:27,200 --> 00:09:29,040 Speaker 1: I think it's totally fine because like we do this 210 00:09:29,080 --> 00:09:32,040 Speaker 1: when it comes to concerts, you're doing too, Like and 211 00:09:32,080 --> 00:09:34,920 Speaker 1: I don't mind paying for the getting literally the cheapest 212 00:09:34,920 --> 00:09:36,960 Speaker 1: seat possible. I'm going to California in April just to 213 00:09:37,000 --> 00:09:39,080 Speaker 1: make it happen. I'm getting the cheapest seats possible with 214 00:09:39,080 --> 00:09:41,320 Speaker 1: my fans. Like, and we know what we're training with 215 00:09:41,360 --> 00:09:42,920 Speaker 1: the trade offs who we're making and like, think about 216 00:09:42,960 --> 00:09:45,120 Speaker 1: like a basketball game. If you're gonna sit courtside and 217 00:09:45,200 --> 00:09:47,040 Speaker 1: you want those amazing seas, you're gonna you're gonna pay 218 00:09:47,040 --> 00:09:49,240 Speaker 1: a lot of money, like, way more than if you're 219 00:09:49,320 --> 00:09:51,640 Speaker 1: up in the nosebleeds. And so I get that. I 220 00:09:51,720 --> 00:09:55,360 Speaker 1: hope that some of the different change, though don't implement this, 221 00:09:55,400 --> 00:09:58,439 Speaker 1: because I do. There's something cool about folks who maybe 222 00:09:58,480 --> 00:10:00,000 Speaker 1: they don't have as much money and they show up 223 00:10:00,000 --> 00:10:02,840 Speaker 1: super early as soon as they possibly can, and they 224 00:10:02,880 --> 00:10:04,680 Speaker 1: stand there, they sit there, and they wait in order 225 00:10:04,800 --> 00:10:07,360 Speaker 1: to score the absolute states. So as long as there 226 00:10:07,360 --> 00:10:08,920 Speaker 1: are options out there for folks, I think it can 227 00:10:08,960 --> 00:10:11,760 Speaker 1: be a totally cool thing. Agreed, Alright, So yeah, we 228 00:10:11,760 --> 00:10:13,480 Speaker 1: we're not man at JM so you do your thing. Well, 229 00:10:13,520 --> 00:10:15,400 Speaker 1: let let's talk about investing here for a second. We've 230 00:10:15,400 --> 00:10:17,000 Speaker 1: got some bad news and some good news on the 231 00:10:17,000 --> 00:10:19,200 Speaker 1: investing front. Let's let's start with the good news because 232 00:10:19,200 --> 00:10:22,040 Speaker 1: we're we're optimous. But if this comes from a new 233 00:10:22,320 --> 00:10:25,880 Speaker 1: Vanguard release, and they said this week that when the 234 00:10:25,920 --> 00:10:28,880 Speaker 1: market tanked, starting basically at the beginning of last year, 235 00:10:29,200 --> 00:10:33,120 Speaker 1: the majority of investors didn't sell shares, but they actually 236 00:10:33,160 --> 00:10:35,800 Speaker 1: kept buying them. And so I saw that, and I 237 00:10:35,840 --> 00:10:37,760 Speaker 1: was like, wow, that's pretty cool. Kind of it kind 238 00:10:37,760 --> 00:10:39,840 Speaker 1: of shocks me, but I love love seeing that. Roughly 239 00:10:40,640 --> 00:10:44,600 Speaker 1: of investors in four one case style retirement plans administered 240 00:10:44,600 --> 00:10:47,920 Speaker 1: by Vankar Group maintained or increased their savings rate in 241 00:10:48,600 --> 00:10:51,679 Speaker 1: two and so yeah, despite the bear market, we experienced 242 00:10:51,720 --> 00:10:54,880 Speaker 1: a lot of scary headlines, a lot of predictions of recessions, 243 00:10:55,280 --> 00:10:58,040 Speaker 1: most people stayed the course. And it's not again, not 244 00:10:58,200 --> 00:11:00,360 Speaker 1: just so they didn't sell out of their stock ets. 245 00:11:00,480 --> 00:11:03,079 Speaker 1: They kept contributing more to their accounts, many of them, 246 00:11:03,800 --> 00:11:06,240 Speaker 1: or they kept contributing at least the same pace they 247 00:11:06,240 --> 00:11:08,880 Speaker 1: had been. And so yeah, of course, you know, buying 248 00:11:08,880 --> 00:11:11,760 Speaker 1: when the stock market isn't doing well, it's like buying 249 00:11:11,800 --> 00:11:14,320 Speaker 1: stocks on sale, and so yeah, this warmed our our 250 00:11:14,400 --> 00:11:17,240 Speaker 1: nerdy personal finance hearts. Man. That's what we're encouraging people 251 00:11:17,240 --> 00:11:19,640 Speaker 1: to do last year, Like, don't worry about the headlines, 252 00:11:19,679 --> 00:11:21,920 Speaker 1: don't worry about the fact that the stock market is 253 00:11:21,960 --> 00:11:24,240 Speaker 1: taking a dip. This is normal, This isn't something to 254 00:11:24,280 --> 00:11:25,880 Speaker 1: be worried about. This is the time you're gonna be 255 00:11:25,920 --> 00:11:28,080 Speaker 1: able to actually make more progress towards your you know, 256 00:11:28,120 --> 00:11:30,320 Speaker 1: wealth building goals. And one a part of that is 257 00:11:30,360 --> 00:11:33,480 Speaker 1: the fact that folks are auto enrolled. The majority of 258 00:11:33,679 --> 00:11:36,280 Speaker 1: the different plans that Vancard administers, like the different employers, 259 00:11:36,760 --> 00:11:39,720 Speaker 1: UH auto enrolled their new hires, their new employees, which 260 00:11:39,760 --> 00:11:41,760 Speaker 1: is pretty awesome. And not only that, but the majority 261 00:11:41,800 --> 00:11:45,480 Speaker 1: of those folks also had automatic increases built into how 262 00:11:45,559 --> 00:11:47,600 Speaker 1: much they're setting aside. So every year you're talking about 263 00:11:47,600 --> 00:11:50,600 Speaker 1: like a one percent increase, which is fantastic, right now, 264 00:11:50,640 --> 00:11:53,160 Speaker 1: you having to do anything. It just happens in the background. Yeah, yeah, 265 00:11:53,160 --> 00:11:55,840 Speaker 1: they they quoted Richard Taylory. He was talking about how 266 00:11:55,880 --> 00:11:59,240 Speaker 1: these automatic enrollments it's kind of like GPS for your 267 00:11:59,240 --> 00:12:02,959 Speaker 1: finances because as we punching destination and we set it 268 00:12:03,040 --> 00:12:04,320 Speaker 1: up you know, set your phone up there and you 269 00:12:04,360 --> 00:12:06,240 Speaker 1: just start driving. You don't, you don't really think about it. 270 00:12:06,240 --> 00:12:07,920 Speaker 1: It's just a way to make it so much easier. 271 00:12:07,960 --> 00:12:10,080 Speaker 1: Which is why we were also worth at the directions 272 00:12:10,080 --> 00:12:12,600 Speaker 1: off the top of our head now because GPS just 273 00:12:12,600 --> 00:12:13,920 Speaker 1: takes me there, I don't even know. As long as 274 00:12:14,000 --> 00:12:15,920 Speaker 1: you've got that GPS, as long as that continues to 275 00:12:15,960 --> 00:12:18,120 Speaker 1: be there, then that is no longer a skill that 276 00:12:18,160 --> 00:12:20,240 Speaker 1: we have to hone and you can get better at. 277 00:12:20,640 --> 00:12:24,120 Speaker 1: We can rely on the essentially the technology to point 278 00:12:24,160 --> 00:12:26,280 Speaker 1: us in the right direction. So that was the good news. 279 00:12:26,360 --> 00:12:30,000 Speaker 1: Let's touch on some investing bad news now. Uh So 280 00:12:30,040 --> 00:12:34,199 Speaker 1: Bloomberg they reported that Beyonce fans are announcing that they're 281 00:12:34,400 --> 00:12:37,160 Speaker 1: going to be rating their four own ks in order 282 00:12:37,200 --> 00:12:40,199 Speaker 1: to snag tickets for her upcoming tour. I believe it's 283 00:12:40,240 --> 00:12:43,320 Speaker 1: the Renaissance tour. So like, you don't even know, please 284 00:12:44,240 --> 00:12:46,679 Speaker 1: I barely know. But don't take money out of your 285 00:12:46,679 --> 00:12:49,360 Speaker 1: retirement accounts, folks. If you really want to go see 286 00:12:49,360 --> 00:12:52,640 Speaker 1: a once in a lifetime show, I'm sorry, but go 287 00:12:52,840 --> 00:12:54,920 Speaker 1: make some extra money doing something else, right, like go 288 00:12:55,040 --> 00:12:59,079 Speaker 1: drive for Uber instead of robbing future you hardship withdrawals 289 00:12:59,080 --> 00:13:01,280 Speaker 1: are becoming easier because to the new Secure Act two 290 00:13:01,320 --> 00:13:04,280 Speaker 1: point oh that went into effect recently, but we still 291 00:13:04,320 --> 00:13:07,400 Speaker 1: want you to avoid making Hartshet withdrawals like that, like 292 00:13:07,480 --> 00:13:11,000 Speaker 1: the plague, the tax bill and the timpercent penalty plus 293 00:13:11,400 --> 00:13:13,920 Speaker 1: not having that money working for your future makes this 294 00:13:14,200 --> 00:13:16,880 Speaker 1: one of our most hated money choices that you could 295 00:13:16,920 --> 00:13:19,280 Speaker 1: possibly make. It sounds to me like you hate Beyonce. Dude, 296 00:13:19,400 --> 00:13:21,560 Speaker 1: I don't hate Beyonce. If it was her Taylor Swift, 297 00:13:21,559 --> 00:13:23,480 Speaker 1: I should be telling people to take money, I wouldn't you. 298 00:13:23,480 --> 00:13:25,880 Speaker 1: You are just putting words in my mouth, sir. But 299 00:13:26,080 --> 00:13:29,280 Speaker 1: there are different folks who have given their opinion that 300 00:13:29,480 --> 00:13:31,800 Speaker 1: there should be fewer penalties when it comes to taking 301 00:13:31,880 --> 00:13:33,880 Speaker 1: up money out of your four own k how it 302 00:13:33,920 --> 00:13:36,480 Speaker 1: should be easier, um, But I don't think that's the 303 00:13:36,480 --> 00:13:38,440 Speaker 1: case either, right Like there should be I think the 304 00:13:38,520 --> 00:13:41,560 Speaker 1: rules should exist, we should be encouraged to not touch 305 00:13:41,640 --> 00:13:44,280 Speaker 1: that money. But bottom line, folks are using their accounts 306 00:13:44,280 --> 00:13:46,720 Speaker 1: for the wrong things. It's like there's a saving there's 307 00:13:46,720 --> 00:13:51,120 Speaker 1: another account, there's checking account, or just having cash on hand. 308 00:13:51,120 --> 00:13:54,160 Speaker 1: There are ways for you to handle a purchase like 309 00:13:54,240 --> 00:13:56,679 Speaker 1: that without or other things in life. Right, because a 310 00:13:56,720 --> 00:13:58,480 Speaker 1: lot of those folks will say, well, what about somebody 311 00:13:58,720 --> 00:14:00,679 Speaker 1: who's lost their job and they need to be able 312 00:14:00,679 --> 00:14:02,920 Speaker 1: to access their you know, their funds. And while I 313 00:14:03,000 --> 00:14:04,880 Speaker 1: totally get it right, folks should be able to have 314 00:14:04,920 --> 00:14:07,480 Speaker 1: access to their money, it's the wrong account for the 315 00:14:07,640 --> 00:14:10,760 Speaker 1: for that job. It's like saying this chainsaw is terrible 316 00:14:10,800 --> 00:14:13,240 Speaker 1: at slicing up these tomatoes, and it's like, well, yeah, 317 00:14:13,320 --> 00:14:15,200 Speaker 1: that's not that's not what it's made for. Chainsaw is 318 00:14:15,200 --> 00:14:17,160 Speaker 1: made for cutting down a tree. What you need is 319 00:14:17,200 --> 00:14:19,000 Speaker 1: a little pairing that. And again that's why we talk 320 00:14:19,080 --> 00:14:21,360 Speaker 1: about the most important thing is to say about that 321 00:14:21,600 --> 00:14:24,800 Speaker 1: emergency fund before you even start investing. And I think 322 00:14:24,840 --> 00:14:27,320 Speaker 1: a lot of people we want them to become investored, 323 00:14:27,360 --> 00:14:29,040 Speaker 1: but they might be starting too soon and they might 324 00:14:29,040 --> 00:14:32,080 Speaker 1: need to prioritize savings before they start talking away too 325 00:14:32,160 --> 00:14:34,000 Speaker 1: much money into those retirement accounts, because you've got to 326 00:14:34,000 --> 00:14:37,760 Speaker 1: be able to plan for some of those awful potential scenarios. 327 00:14:37,960 --> 00:14:39,840 Speaker 1: And while we're talking about investing, Matt, let's talk about 328 00:14:39,840 --> 00:14:41,760 Speaker 1: e s G funds. Again, we haven't talked about them 329 00:14:41,760 --> 00:14:44,840 Speaker 1: in a while, but that stands for Environmental social governance 330 00:14:45,040 --> 00:14:49,280 Speaker 1: funds and we've not been fans of these basically from 331 00:14:49,280 --> 00:14:52,840 Speaker 1: their inception, and it's not because we're against going green 332 00:14:53,120 --> 00:14:56,200 Speaker 1: or we're not in favor of making earth friendly choices. 333 00:14:56,240 --> 00:14:59,320 Speaker 1: We talked about socially responsible investing in detail. I don't 334 00:14:59,320 --> 00:15:01,560 Speaker 1: know a couple of years of go, but it's more 335 00:15:01,600 --> 00:15:04,400 Speaker 1: than just the fees you pay. These funds definitely come 336 00:15:04,440 --> 00:15:08,960 Speaker 1: with higher fees for what is really a remarkably similar product. 337 00:15:09,560 --> 00:15:12,040 Speaker 1: But E s G is it's so much if it's 338 00:15:12,120 --> 00:15:13,800 Speaker 1: largely in the eye of the beholder. That's one of 339 00:15:13,800 --> 00:15:15,600 Speaker 1: the problems we have with it. And just because a 340 00:15:15,680 --> 00:15:18,800 Speaker 1: fund manager thinks that a company is socially responsible, it 341 00:15:18,800 --> 00:15:22,960 Speaker 1: doesn't necessarily mean that you do. And for some they 342 00:15:23,040 --> 00:15:25,840 Speaker 1: might say, actually, while Apple makes it into a lot 343 00:15:25,880 --> 00:15:28,520 Speaker 1: of BSG funds, the way they manufacture their phones and 344 00:15:28,560 --> 00:15:30,280 Speaker 1: who they have making them and where they're making them 345 00:15:30,280 --> 00:15:33,240 Speaker 1: in the world, maybe they don't. It doesn't feel super 346 00:15:33,400 --> 00:15:36,800 Speaker 1: responsible to you. So much comes down to who's making 347 00:15:36,800 --> 00:15:40,440 Speaker 1: the decision and why they're putting that specific company into 348 00:15:40,440 --> 00:15:42,960 Speaker 1: one of these E s G funds. And longtime investment 349 00:15:42,960 --> 00:15:45,400 Speaker 1: writer Jason's ye over at The Wall Street Journal, he 350 00:15:45,400 --> 00:15:48,040 Speaker 1: took E s G funds to task in his piece 351 00:15:48,360 --> 00:15:51,000 Speaker 1: this this past week, citing many of the same concerns 352 00:15:51,080 --> 00:15:52,400 Speaker 1: we had. So I feel like, I feel like we're 353 00:15:52,400 --> 00:15:54,320 Speaker 1: a good company there, Matt if If If Jason's yge agrees 354 00:15:54,360 --> 00:15:57,600 Speaker 1: with us. Totally, totally, yeah. His his main premise was that, like, 355 00:15:57,640 --> 00:16:00,800 Speaker 1: although green funds don't actually cost three times as much 356 00:16:00,840 --> 00:16:03,280 Speaker 1: when you look at the baseline fees, they kind of 357 00:16:03,320 --> 00:16:06,040 Speaker 1: do in reality because an e s G version index 358 00:16:06,080 --> 00:16:09,840 Speaker 1: fund and a traditional SMP index fund they often own 359 00:16:09,960 --> 00:16:14,160 Speaker 1: around seventy percent of the same holdings. They consist of 360 00:16:14,200 --> 00:16:16,960 Speaker 1: the same companies. So what that means is that you're 361 00:16:16,960 --> 00:16:20,320 Speaker 1: paying quite a bit extra for just a little bit 362 00:16:20,640 --> 00:16:24,040 Speaker 1: of divergent exposure, right, Like that remaining thirty percent might 363 00:16:24,080 --> 00:16:26,400 Speaker 1: be different. And so if you think about it that way, 364 00:16:26,400 --> 00:16:28,720 Speaker 1: it's like, Okay, it's this much more expensive, and you 365 00:16:28,760 --> 00:16:33,040 Speaker 1: are now applying that additional fee to the difference that 366 00:16:33,080 --> 00:16:35,640 Speaker 1: you are now experiencing. Some of those E s G 367 00:16:35,760 --> 00:16:39,040 Speaker 1: funds they're like five percent different. So they they're so 368 00:16:39,120 --> 00:16:42,400 Speaker 1: eerily similar to the regular the performance is so stinking 369 00:16:42,400 --> 00:16:44,720 Speaker 1: similar to like I forget they're just branded differently. They've 370 00:16:44,720 --> 00:16:46,160 Speaker 1: got to cost a lot more because they got the 371 00:16:46,160 --> 00:16:48,320 Speaker 1: brand name with them. Yeah, and they've got this coefficient, right, 372 00:16:48,360 --> 00:16:51,520 Speaker 1: So if it's like one, the correlation means it's exactly 373 00:16:51,520 --> 00:16:54,120 Speaker 1: the same. It's something like point nine eight. So it's 374 00:16:54,120 --> 00:16:58,040 Speaker 1: like similar in uh in its performance as the SMP. 375 00:16:58,240 --> 00:17:00,280 Speaker 1: And that's because it's made up of all the same 376 00:17:00,320 --> 00:17:03,080 Speaker 1: stupid companies. It's made up of all the same stupid 377 00:17:03,200 --> 00:17:05,760 Speaker 1: Please come on, we're not fans of SG funds, that's 378 00:17:05,800 --> 00:17:07,720 Speaker 1: what we're saying here, and we don't want to beat 379 00:17:07,720 --> 00:17:09,520 Speaker 1: a dead horse and discuss all the different ways that 380 00:17:09,560 --> 00:17:12,600 Speaker 1: we think they are inferior. But we really do believe 381 00:17:12,640 --> 00:17:15,280 Speaker 1: that there are just better ways to make green choices 382 00:17:15,359 --> 00:17:17,840 Speaker 1: that actually make a difference, right, Like, we don't want 383 00:17:17,880 --> 00:17:21,360 Speaker 1: you necessarily investing in E s G funds. Instead, if 384 00:17:21,400 --> 00:17:25,520 Speaker 1: you want to promote a certain cause, donate directly to 385 00:17:25,600 --> 00:17:27,760 Speaker 1: that cause, Donate to the different organizations that are going 386 00:17:27,800 --> 00:17:30,159 Speaker 1: to make a difference in that way. Or if you 387 00:17:30,240 --> 00:17:33,880 Speaker 1: want to buy less stuff like that's one of those 388 00:17:33,880 --> 00:17:36,800 Speaker 1: things too, is oftentimes don't buy quote unquote green products. 389 00:17:37,240 --> 00:17:40,480 Speaker 1: If you care about the planet, just less, consume less 390 00:17:40,520 --> 00:17:43,080 Speaker 1: in general. Don't replace your hardwood floors with bamboo floors 391 00:17:43,080 --> 00:17:45,919 Speaker 1: because they're more sustainable, keep your hardwood floors in good condition, 392 00:17:45,960 --> 00:17:48,119 Speaker 1: and keep them around me. Those are all sorts of 393 00:17:48,160 --> 00:17:50,359 Speaker 1: things that were we we want like a to buy 394 00:17:50,359 --> 00:17:52,919 Speaker 1: a solution, but that's not the way we actually make progress. 395 00:17:53,000 --> 00:17:55,320 Speaker 1: But we've been trained up to think that consumption is 396 00:17:55,320 --> 00:17:57,800 Speaker 1: the solution to everything. You just have to consume in 397 00:17:57,840 --> 00:17:59,840 Speaker 1: the right way. So consume these new esg fund They're 398 00:17:59,840 --> 00:18:02,119 Speaker 1: going cost you more money, and they're gonna rob future 399 00:18:02,160 --> 00:18:05,280 Speaker 1: you some returns, and we just want you to avoid 400 00:18:05,280 --> 00:18:07,399 Speaker 1: that because in reality, you're just gonna you're lining the 401 00:18:07,400 --> 00:18:10,400 Speaker 1: pockets of those fund managers or those different brokerages as 402 00:18:10,440 --> 00:18:13,440 Speaker 1: opposed to that additional money, that additional costs that you're 403 00:18:13,440 --> 00:18:17,560 Speaker 1: experiencing going towards actual companies that you care about. Hey, 404 00:18:17,560 --> 00:18:18,880 Speaker 1: we've got more to get to them, Matt. We want 405 00:18:18,880 --> 00:18:20,840 Speaker 1: to talk about we do gambling on the Super Bowl. 406 00:18:20,880 --> 00:18:22,720 Speaker 1: We also want to talk about tax refunds and how 407 00:18:23,040 --> 00:18:24,520 Speaker 1: for a lot of people their refund is gonna be 408 00:18:24,560 --> 00:18:26,800 Speaker 1: smaller this year than it was last year. We'll talk 409 00:18:26,840 --> 00:18:38,639 Speaker 1: about that and more right after this we're back and 410 00:18:38,720 --> 00:18:42,160 Speaker 1: before we talk about the big game. Joel, that's twice. 411 00:18:42,200 --> 00:18:44,040 Speaker 1: I guess I didn't say the Super bowl. But dang it, 412 00:18:44,080 --> 00:18:45,600 Speaker 1: I did it. Now you did it, Now you did it. 413 00:18:45,960 --> 00:18:48,080 Speaker 1: It's time for our ludicrous headline of the week. This 414 00:18:48,119 --> 00:18:51,760 Speaker 1: one comes from the Atlantic and the headline reads, my 415 00:18:51,840 --> 00:18:54,840 Speaker 1: printer is extorting me, which let's let's be honest. It 416 00:18:54,840 --> 00:18:58,040 Speaker 1: sounds a little dramatic, like your printers got a gun 417 00:18:58,080 --> 00:19:01,040 Speaker 1: to your energy. Yeah, it's like a literal shakedown that's happening. 418 00:19:01,359 --> 00:19:04,800 Speaker 1: The truth is that this author isn't alone. Printers they 419 00:19:04,840 --> 00:19:07,920 Speaker 1: look incredibly cheap when you're buying them, but the cost 420 00:19:08,040 --> 00:19:10,560 Speaker 1: to keep printing for many models of printers out there 421 00:19:10,640 --> 00:19:12,640 Speaker 1: is like, that's where you're really going to be swindled. 422 00:19:13,040 --> 00:19:16,879 Speaker 1: HP for instance, Healtt Packard they have a subscription service 423 00:19:17,000 --> 00:19:19,720 Speaker 1: for ink deliveries and if you don't pay up, they 424 00:19:19,760 --> 00:19:23,720 Speaker 1: can remotely disable your printer. Literally they can break it, 425 00:19:23,960 --> 00:19:27,159 Speaker 1: which is quite diabolical. So first of all, heads up, 426 00:19:27,160 --> 00:19:29,560 Speaker 1: you know, think about the cost of ink before you 427 00:19:29,600 --> 00:19:33,320 Speaker 1: buy a printer. So specifically Brother Incfstment and Ups and 428 00:19:33,400 --> 00:19:36,360 Speaker 1: Eco Tank they're actually companies or models that are worth 429 00:19:36,400 --> 00:19:39,440 Speaker 1: looking into in the way that they are selling their ink. Yes, 430 00:19:39,480 --> 00:19:42,000 Speaker 1: you will pay more upfront, but you aren't gonna get 431 00:19:42,080 --> 00:19:44,480 Speaker 1: robbed on a continual basis, moving forward to you know, 432 00:19:44,520 --> 00:19:47,439 Speaker 1: on a monthly basis, again going back to subscriptions and 433 00:19:48,040 --> 00:19:51,280 Speaker 1: increasing costs. They're all these different companies. They want a piece, 434 00:19:51,480 --> 00:19:54,000 Speaker 1: they want that ivy drip of revenue coming in that 435 00:19:54,040 --> 00:19:56,160 Speaker 1: they can count on, which I get, and I get 436 00:19:56,160 --> 00:19:59,119 Speaker 1: that we want to try to avoid that business model 437 00:19:59,119 --> 00:20:03,240 Speaker 1: whenever possible. But it becomes even more nefarious when they say, oh, 438 00:20:03,480 --> 00:20:05,520 Speaker 1: you don't want that subscription service anymore, or you didn't 439 00:20:05,520 --> 00:20:08,280 Speaker 1: pay up this month. Well, even though your printer is 440 00:20:08,280 --> 00:20:10,520 Speaker 1: full of ink, you can't use it. We're gonna break 441 00:20:10,560 --> 00:20:12,800 Speaker 1: it remotely, and it just calls the ownership of the 442 00:20:12,840 --> 00:20:16,040 Speaker 1: item into question. And I don't like. I don't like 443 00:20:16,119 --> 00:20:18,639 Speaker 1: this tactic from HP, And so yeah, I would say 444 00:20:18,840 --> 00:20:22,640 Speaker 1: go elsewhere, HP, stop crapping on your customers. And if yeah, 445 00:20:22,680 --> 00:20:24,640 Speaker 1: if you're in the market for a new printer, get 446 00:20:24,680 --> 00:20:27,440 Speaker 1: one that is going to make ink reasonably price, like 447 00:20:27,480 --> 00:20:30,120 Speaker 1: you mentioned. Well, and I'm gonna play Devil's advocate here, 448 00:20:30,119 --> 00:20:32,880 Speaker 1: And I think what HP would say is they would say, well, 449 00:20:32,960 --> 00:20:34,800 Speaker 1: it was in the user agreement, which you agree to. 450 00:20:34,920 --> 00:20:37,360 Speaker 1: But the fact is, of course, not everybody reads those 451 00:20:37,400 --> 00:20:40,000 Speaker 1: daying things. Almost nobody does. But you know what, more 452 00:20:40,000 --> 00:20:43,480 Speaker 1: people read articles over at the Atlantic, and there are 453 00:20:43,520 --> 00:20:45,040 Speaker 1: also some folks out there who listen to the how 454 00:20:45,040 --> 00:20:47,239 Speaker 1: to Money podcast, and so eventually, I guess what I'm 455 00:20:47,240 --> 00:20:49,520 Speaker 1: pointing out is that if companies are going to treat 456 00:20:49,520 --> 00:20:52,080 Speaker 1: their customers poorly, at some point, it's gonna catch up 457 00:20:52,080 --> 00:20:53,480 Speaker 1: to them. Oh yeah, Oh it's gonna come back to 458 00:20:53,520 --> 00:20:55,680 Speaker 1: bite for sure, And I hope it does, because the 459 00:20:55,800 --> 00:20:59,080 Speaker 1: companies like this deserve to lose customers. They deserve to 460 00:20:59,119 --> 00:21:02,360 Speaker 1: have people walk away, uh, in favor of a company 461 00:21:02,600 --> 00:21:05,199 Speaker 1: that won't treat them like trash and that won't make 462 00:21:05,240 --> 00:21:08,119 Speaker 1: it seem like the item that they purchased full on 463 00:21:08,240 --> 00:21:11,280 Speaker 1: that they thought they owned. Well, now we're gonna like, yeah, 464 00:21:11,400 --> 00:21:13,879 Speaker 1: pull a dirty trick from you know, Palo Alto or 465 00:21:13,880 --> 00:21:17,560 Speaker 1: wherever HP is based and shut you down. That's just dirty. 466 00:21:17,840 --> 00:21:20,040 Speaker 1: But let's talk about gambling for a second. Man, that's 467 00:21:20,040 --> 00:21:22,080 Speaker 1: another something else I'm not a huge fan of. But 468 00:21:22,119 --> 00:21:28,000 Speaker 1: specifically within the duper goal, Yes, there's a lot of 469 00:21:28,080 --> 00:21:30,240 Speaker 1: like speculation over whether or not you can be sued 470 00:21:30,280 --> 00:21:33,080 Speaker 1: for actually saying super Bowl. I don't know, we're gonna know, 471 00:21:33,119 --> 00:21:35,000 Speaker 1: I said duper goal I know you did, but I'm 472 00:21:35,000 --> 00:21:36,720 Speaker 1: going to say the actual thing and just tell the 473 00:21:36,840 --> 00:21:38,960 Speaker 1: NFL to bring it. But um, yeah, at least we're 474 00:21:38,960 --> 00:21:40,879 Speaker 1: not gonna have to sit through crypto ads for the 475 00:21:40,880 --> 00:21:42,520 Speaker 1: super Bowl this year. I will say that is true. 476 00:21:42,560 --> 00:21:45,600 Speaker 1: It's a bright bright spot. But one thing is it's 477 00:21:45,600 --> 00:21:49,399 Speaker 1: sports betting is going to be huge this weekend, which 478 00:21:50,160 --> 00:21:52,600 Speaker 1: just isn't great if we're being honest. And over fifty 479 00:21:52,680 --> 00:21:56,840 Speaker 1: million Americans apparently are expected to wager sixteen billion dollars 480 00:21:57,000 --> 00:21:59,640 Speaker 1: on the Super Bowl, which is more than double what 481 00:21:59,720 --> 00:22:03,240 Speaker 1: was it in gambling for last year's game. I don't 482 00:22:03,240 --> 00:22:05,040 Speaker 1: know if it's just because people are more excited about 483 00:22:05,040 --> 00:22:06,560 Speaker 1: the matchup, I don't think so. I think it's just 484 00:22:06,600 --> 00:22:10,760 Speaker 1: because of how popular these these sports gambling apps have become. 485 00:22:11,000 --> 00:22:13,280 Speaker 1: It's become legal and more places, and it's just becoming 486 00:22:13,280 --> 00:22:16,560 Speaker 1: more normalized in our culture. But gambling, it's not just 487 00:22:16,600 --> 00:22:18,840 Speaker 1: a big waste of money for folks. It's increasingly becoming 488 00:22:18,840 --> 00:22:21,600 Speaker 1: an addiction for lots of people too. And so the 489 00:22:21,640 --> 00:22:23,600 Speaker 1: truth is, Matt like, when we talk about gambling, the 490 00:22:23,600 --> 00:22:27,080 Speaker 1: house always wins, but these commercials make it, it makes 491 00:22:27,080 --> 00:22:29,840 Speaker 1: it seem like it's fun to play, and I've been 492 00:22:29,840 --> 00:22:31,720 Speaker 1: to a casino a few times in my life. Probably 493 00:22:31,720 --> 00:22:34,040 Speaker 1: not the wisest move for someone who wants to save money, 494 00:22:34,080 --> 00:22:36,760 Speaker 1: but I will say, when it becomes like when it's 495 00:22:36,840 --> 00:22:39,159 Speaker 1: right at our fingertips, and when all the commercials are 496 00:22:39,160 --> 00:22:41,080 Speaker 1: touting and how fun it is and they're offering us, 497 00:22:41,320 --> 00:22:43,760 Speaker 1: you know, free money to get started, well it sure 498 00:22:43,800 --> 00:22:46,919 Speaker 1: seems like it's a good idea, but the reality is, 499 00:22:47,560 --> 00:22:50,359 Speaker 1: don't wager your hard earned dollars in these apps because 500 00:22:50,760 --> 00:22:53,440 Speaker 1: over time, the result is likely to be poor for you. 501 00:22:53,720 --> 00:22:55,240 Speaker 1: I mean, like you said, you've been to a casino. 502 00:22:55,280 --> 00:22:57,080 Speaker 1: I've never been been to a casino, but that's just 503 00:22:57,119 --> 00:22:59,040 Speaker 1: because I don't know why, Like I just haven't. Like 504 00:22:59,080 --> 00:23:00,720 Speaker 1: I want to go at some point and experience the 505 00:23:00,800 --> 00:23:03,920 Speaker 1: joy of of losing my money. It's not necessarily joy, 506 00:23:05,160 --> 00:23:07,000 Speaker 1: But I guess what we're pointing out is that I 507 00:23:07,000 --> 00:23:09,840 Speaker 1: am personally done with folks losing their money by gambling, 508 00:23:09,840 --> 00:23:11,840 Speaker 1: by betting it if they want to. But specifically, I 509 00:23:11,840 --> 00:23:14,520 Speaker 1: think that the difference here is that with these gambling 510 00:23:14,520 --> 00:23:17,679 Speaker 1: apps being on your phone, there are normal constraints that 511 00:23:17,760 --> 00:23:20,240 Speaker 1: we normally that someone normally experiences when they go to 512 00:23:20,240 --> 00:23:21,959 Speaker 1: gamble into your life, right, Like you have to get 513 00:23:22,040 --> 00:23:24,360 Speaker 1: in the car, you have to answer the question where 514 00:23:24,359 --> 00:23:27,320 Speaker 1: are you going, Like you have to be seen walking 515 00:23:27,359 --> 00:23:31,000 Speaker 1: into an establishment like that where everyone knows that you're 516 00:23:31,000 --> 00:23:32,800 Speaker 1: likely gonna, you know, lose all your money. But when 517 00:23:32,800 --> 00:23:35,000 Speaker 1: you have these apps on your phone and you can 518 00:23:35,119 --> 00:23:37,520 Speaker 1: gamble in secret, you know, like like you've got like 519 00:23:37,560 --> 00:23:39,320 Speaker 1: there's a lot of great things when it comes to 520 00:23:39,400 --> 00:23:42,080 Speaker 1: the privacy that we have, but when it comes to 521 00:23:42,080 --> 00:23:44,600 Speaker 1: certain behaviors like this, I think that's where it can 522 00:23:44,600 --> 00:23:47,560 Speaker 1: be a bad thing. You can gamble without folks knowing it. 523 00:23:48,200 --> 00:23:50,879 Speaker 1: Like you said, it's just always there. It's like constantly present, 524 00:23:50,960 --> 00:23:53,760 Speaker 1: and that's the aspect of it that feels really pervasive 525 00:23:53,800 --> 00:23:57,080 Speaker 1: and pernicious. Gambling like that a lot of young men. 526 00:23:57,119 --> 00:23:59,480 Speaker 1: I think it makes the watching the games more exciting 527 00:23:59,520 --> 00:24:02,080 Speaker 1: because you've got money on the line, but it can 528 00:24:02,160 --> 00:24:03,960 Speaker 1: that's part of what can lead to the addiction, I 529 00:24:04,000 --> 00:24:06,040 Speaker 1: think is because it makes you just kind of get 530 00:24:06,040 --> 00:24:08,359 Speaker 1: more and more into that world. And it's again it's 531 00:24:08,359 --> 00:24:11,000 Speaker 1: at your fingertips instead of having to drive somewhere and 532 00:24:11,520 --> 00:24:13,000 Speaker 1: a lot of people are gonna get wrapped up and 533 00:24:13,119 --> 00:24:15,000 Speaker 1: it's it's not only is it gonna lose people money, 534 00:24:15,119 --> 00:24:17,360 Speaker 1: but it's gonna hurt families and it's gonna hurt individuals, 535 00:24:17,359 --> 00:24:18,879 Speaker 1: which I think is a big problem for our society 536 00:24:18,880 --> 00:24:22,080 Speaker 1: to all those secondary intertiary effects for sure. So the 537 00:24:22,080 --> 00:24:24,800 Speaker 1: super Bowl is this weekend. Don't forget though. On Tuesday, 538 00:24:24,880 --> 00:24:27,800 Speaker 1: it's Valentine's Day and folks are planning to spend an 539 00:24:27,800 --> 00:24:30,919 Speaker 1: average of a hundred and ninety dollars on Valentine's Day 540 00:24:30,920 --> 00:24:33,240 Speaker 1: according to surveys this year. And so is that is 541 00:24:33,280 --> 00:24:36,200 Speaker 1: that good? Is that bad? Well, it probably depends on 542 00:24:36,240 --> 00:24:39,199 Speaker 1: where you are with your personal finances. But one thing 543 00:24:39,240 --> 00:24:41,920 Speaker 1: to consider, it's certainly gonna be harder to find a 544 00:24:42,000 --> 00:24:45,320 Speaker 1: table and it can often be a costlier night. Uh. 545 00:24:45,359 --> 00:24:47,760 Speaker 1: And if you're looking to get out in general, and 546 00:24:47,800 --> 00:24:50,680 Speaker 1: so our advice maybe take your partner out on Monday 547 00:24:50,840 --> 00:24:54,560 Speaker 1: instead or Wednesday or Thursday. Not cheap. Yeah, I think 548 00:24:54,560 --> 00:24:57,439 Speaker 1: it shows that like you're being proactive in particularly if 549 00:24:57,480 --> 00:24:59,359 Speaker 1: you set the stage and if they know that if 550 00:24:59,400 --> 00:25:01,040 Speaker 1: you take it on the Thursday, but I think you 551 00:25:01,080 --> 00:25:02,560 Speaker 1: just forgot. But if you take him out on Monday, 552 00:25:02,640 --> 00:25:05,240 Speaker 1: they're like, oh he he thought ahead or she thought ahead, 553 00:25:05,440 --> 00:25:09,400 Speaker 1: or it's Friday today, so make reservations for next Thursday 554 00:25:09,440 --> 00:25:12,280 Speaker 1: and make sure that's something. Let them know before. Yeah, 555 00:25:12,280 --> 00:25:14,080 Speaker 1: you just let them know, like, don't wait till the 556 00:25:14,119 --> 00:25:17,040 Speaker 1: last minute. But actually so. On a related note, there 557 00:25:17,080 --> 00:25:19,359 Speaker 1: was an interesting local story here in Atlanta about a 558 00:25:19,440 --> 00:25:22,920 Speaker 1: group wedding that's happening on Valentine's Day and the Mayor 559 00:25:23,200 --> 00:25:26,800 Speaker 1: of Atlanta is officiating, which is kind of cool. It's 560 00:25:26,800 --> 00:25:30,159 Speaker 1: gonna cost folks a thousand dollars per couple, but they 561 00:25:30,200 --> 00:25:33,840 Speaker 1: get a ceremony, they get dinner, some some dancing afterwards. Jill, 562 00:25:33,880 --> 00:25:35,720 Speaker 1: do you have any thoughts any Do you have an 563 00:25:35,760 --> 00:25:38,400 Speaker 1: opinion on whether or not this is in particular frugal 564 00:25:38,480 --> 00:25:41,280 Speaker 1: or cheap. I think it's probably frugal. I think the 565 00:25:41,320 --> 00:25:43,760 Speaker 1: one reason I would say it might not be frugal 566 00:25:43,840 --> 00:25:45,960 Speaker 1: is if you don't get to invite as many family 567 00:25:46,000 --> 00:25:47,320 Speaker 1: and friends as you'd like to be there. I think 568 00:25:47,320 --> 00:25:49,960 Speaker 1: I saw that you're allowed to invite four guests, which 569 00:25:50,000 --> 00:25:51,680 Speaker 1: that might might not might be even there might not 570 00:25:51,720 --> 00:25:53,320 Speaker 1: be enough for a lot of people. They might say 571 00:25:53,720 --> 00:25:55,520 Speaker 1: for those folks. So it's like we have an actual, 572 00:25:55,800 --> 00:25:59,080 Speaker 1: like almost almost a real wedding. What I'm saying this 573 00:25:59,119 --> 00:26:00,720 Speaker 1: is a real wedding. Some people are cheaping out by 574 00:26:00,760 --> 00:26:02,440 Speaker 1: saying I'm gonna go through the cells and dollar option, 575 00:26:02,560 --> 00:26:05,200 Speaker 1: when now a lot of people that they love and 576 00:26:05,320 --> 00:26:07,720 Speaker 1: in care and who have supported their relationship don't get 577 00:26:07,720 --> 00:26:09,239 Speaker 1: to be a part of that special day. That's when 578 00:26:09,280 --> 00:26:10,879 Speaker 1: it would be cheap. But what if they had What 579 00:26:10,920 --> 00:26:12,240 Speaker 1: if it's just the two of them, they don't have 580 00:26:12,280 --> 00:26:14,040 Speaker 1: any friends here in the city, and their parents live 581 00:26:14,080 --> 00:26:15,840 Speaker 1: them the other of the country. It's a wonderful way 582 00:26:15,840 --> 00:26:18,000 Speaker 1: to say, And we've pored of stepping it up. If 583 00:26:18,080 --> 00:26:20,000 Speaker 1: you're looking at maybe doing like a courthouse wedding. You 584 00:26:20,040 --> 00:26:21,919 Speaker 1: and I we've talked about how people spend too much 585 00:26:21,960 --> 00:26:24,440 Speaker 1: money on weddings. And it's not that you shouldn't spend anything, 586 00:26:24,480 --> 00:26:25,840 Speaker 1: and it's not that it's not a special day, and 587 00:26:25,840 --> 00:26:27,560 Speaker 1: it's not that it can't be an awesome party. I 588 00:26:27,600 --> 00:26:29,240 Speaker 1: think it can be all those things. But I think 589 00:26:29,280 --> 00:26:31,840 Speaker 1: you can do that with a reasonable budget. You don't 590 00:26:31,840 --> 00:26:33,800 Speaker 1: have to go overboard. Yeah, yeah, as long as again 591 00:26:33,960 --> 00:26:36,000 Speaker 1: it's sort of like the movie theater thing, right, as 592 00:26:36,040 --> 00:26:38,119 Speaker 1: long as people have the option, if you want to 593 00:26:38,160 --> 00:26:40,040 Speaker 1: spend the money, you can get the really good seats. 594 00:26:40,040 --> 00:26:41,639 Speaker 1: If you want to have the big, nice wedding, you 595 00:26:41,680 --> 00:26:44,159 Speaker 1: can do that. But I like that there's options here, uh, 596 00:26:44,359 --> 00:26:46,120 Speaker 1: in order for folks to be able to save money 597 00:26:46,119 --> 00:26:47,280 Speaker 1: as well. Yeah, I think this is kind of a 598 00:26:47,320 --> 00:26:49,080 Speaker 1: cool thing, and I'd like to see more like group 599 00:26:49,119 --> 00:26:51,120 Speaker 1: weddings so that everybody can save a little bit of money. 600 00:26:51,200 --> 00:26:53,240 Speaker 1: A bit more money take place. But it's like a 601 00:26:53,280 --> 00:26:56,160 Speaker 1: flash mob. Yeah, exactly. Well, let's talk about the way 602 00:26:56,200 --> 00:26:58,119 Speaker 1: people are talking about money right now, Matt. There was 603 00:26:58,160 --> 00:27:00,800 Speaker 1: a new survey from in to It which found that 604 00:27:00,920 --> 00:27:03,080 Speaker 1: gen z is way more likely to talk about their 605 00:27:03,119 --> 00:27:05,919 Speaker 1: sex life and their mental health than what's going on 606 00:27:05,960 --> 00:27:08,520 Speaker 1: with their money. And at the same time, though I 607 00:27:08,560 --> 00:27:12,280 Speaker 1: found this really interesting. Of those folks that were surveyed, 608 00:27:12,560 --> 00:27:14,320 Speaker 1: they said they wish it was a topic that came 609 00:27:14,400 --> 00:27:16,720 Speaker 1: up more. So they want to be talking about money, 610 00:27:16,800 --> 00:27:20,440 Speaker 1: but they're not actually doing it. And so it's also true, 611 00:27:20,720 --> 00:27:23,240 Speaker 1: based on this survey, that what they see online makes 612 00:27:23,280 --> 00:27:27,040 Speaker 1: them feel inferior and it makes them feel like behind 613 00:27:27,119 --> 00:27:29,680 Speaker 1: when it comes to the financial progress they're making, which 614 00:27:29,720 --> 00:27:33,280 Speaker 1: gives me two thoughts. First, yes, comparison is going to 615 00:27:33,359 --> 00:27:35,520 Speaker 1: mess you up on the financial front, right It's it's 616 00:27:35,520 --> 00:27:38,960 Speaker 1: just impossible to see your friends if they're building wealth, 617 00:27:39,000 --> 00:27:43,000 Speaker 1: like wealth is created and generated behind the scenes, and 618 00:27:43,080 --> 00:27:45,800 Speaker 1: you are never really able to know what's the four 619 00:27:45,920 --> 00:27:48,479 Speaker 1: one K balance of my friend? Are they maxim out 620 00:27:48,480 --> 00:27:50,800 Speaker 1: there roth this year? That's something it's hard to see. 621 00:27:50,800 --> 00:27:53,600 Speaker 1: But it's easy to see spending right uh, even if 622 00:27:53,640 --> 00:27:55,240 Speaker 1: they're going in debt to do so, and you don't 623 00:27:55,240 --> 00:27:58,200 Speaker 1: realize that. It's just easy to see the lifestyle they're leading, 624 00:27:58,400 --> 00:28:00,879 Speaker 1: and so it's hard to connect the two. Second, if 625 00:28:00,920 --> 00:28:03,720 Speaker 1: you want money commos to happen, be the catalyst, you'd 626 00:28:03,720 --> 00:28:05,719 Speaker 1: be the person that starts up, because it sounds like 627 00:28:05,840 --> 00:28:08,920 Speaker 1: seven out of ten Gen's ears want to have those conversations, 628 00:28:09,040 --> 00:28:10,760 Speaker 1: but maybe they're just too nervous to get them started. 629 00:28:10,920 --> 00:28:13,720 Speaker 1: And there are different easy ways to wade into those 630 00:28:13,720 --> 00:28:17,919 Speaker 1: conversations without making it super awkward, right without asking how 631 00:28:18,000 --> 00:28:20,080 Speaker 1: much your friend makes or you know how much debt 632 00:28:20,160 --> 00:28:23,240 Speaker 1: you goat going on there um. Again, it show sounds 633 00:28:23,240 --> 00:28:26,119 Speaker 1: like folks want these conversations to happen. Everyone is going 634 00:28:26,200 --> 00:28:28,720 Speaker 1: to benefit when we bring money conversations out into the open. 635 00:28:28,760 --> 00:28:31,159 Speaker 1: And so what we would recommend is to volunteer an 636 00:28:31,160 --> 00:28:33,639 Speaker 1: opinion when you're at with your friends, maybe bring up 637 00:28:33,680 --> 00:28:36,440 Speaker 1: a story about, you know, prices going up and ask 638 00:28:36,520 --> 00:28:39,520 Speaker 1: how they're planning to adjust they're spending in order to 639 00:28:39,760 --> 00:28:42,640 Speaker 1: not totally blow their budget. Do you even have a budget? 640 00:28:42,640 --> 00:28:45,360 Speaker 1: How do you track your your expenses? And it's also 641 00:28:45,400 --> 00:28:48,080 Speaker 1: important to mention that talking about money it can actually 642 00:28:48,120 --> 00:28:51,200 Speaker 1: be a good thing because it can help curb financial infidelity. 643 00:28:51,680 --> 00:28:55,200 Speaker 1: Apparently almost a third of Americans have had a partner 644 00:28:55,400 --> 00:28:59,360 Speaker 1: open up a secret credit card, or lie about some income, 645 00:28:59,600 --> 00:29:02,719 Speaker 1: or makes secret purchases that their significant other did not 646 00:29:02,800 --> 00:29:06,360 Speaker 1: know about. Talking about money, It's not like a full 647 00:29:06,360 --> 00:29:08,520 Speaker 1: proof way to prevent these things from happening, but I 648 00:29:08,560 --> 00:29:11,040 Speaker 1: definitely think that they can help. Right if your partner 649 00:29:11,120 --> 00:29:14,720 Speaker 1: feels understood, if they feel seen, and then I think 650 00:29:14,760 --> 00:29:17,840 Speaker 1: there's gonna be there a higher chance that you're having 651 00:29:17,840 --> 00:29:22,520 Speaker 1: conversations proactive or positive, uplifting conversations about money as opposed 652 00:29:22,600 --> 00:29:26,640 Speaker 1: to again, secret things happening that your partner doesn't know about. 653 00:29:26,760 --> 00:29:28,800 Speaker 1: I think if your your partner feels understood, if they 654 00:29:28,840 --> 00:29:32,040 Speaker 1: feel seen, they're going to be less likely to do 655 00:29:32,200 --> 00:29:35,800 Speaker 1: things that could ultimately damage y'all's relationship. Yeah, and just 656 00:29:36,320 --> 00:29:38,520 Speaker 1: it doesn't need to be a taboo. Again, most people 657 00:29:38,600 --> 00:29:40,400 Speaker 1: want to have these conversations, they just don't know how 658 00:29:40,400 --> 00:29:41,960 Speaker 1: to get them started. And if you get them started, 659 00:29:42,000 --> 00:29:43,680 Speaker 1: I bet they're actually gonna be like kind of relieved, 660 00:29:43,800 --> 00:29:45,440 Speaker 1: because like I was kind of hoping to talk about this, 661 00:29:45,680 --> 00:29:46,960 Speaker 1: and money is one of those things. It's one of 662 00:29:47,000 --> 00:29:49,840 Speaker 1: those subjects that impact all of us every single day, 663 00:29:50,080 --> 00:29:52,080 Speaker 1: and there's ways, like you said, Matt, to talk about 664 00:29:52,080 --> 00:29:54,840 Speaker 1: it without being a complete weirdo. Just yeah, get a 665 00:29:54,880 --> 00:29:57,600 Speaker 1: conversation started in like a super chill way, and you 666 00:29:57,680 --> 00:30:01,200 Speaker 1: might find that the response is is great and then 667 00:30:01,200 --> 00:30:04,560 Speaker 1: actually you have a really interesting conversation where you're able 668 00:30:04,600 --> 00:30:06,600 Speaker 1: to help each other out. Maybe one of your friends 669 00:30:06,680 --> 00:30:08,080 Speaker 1: knows a whole lot more than you thought they did, 670 00:30:08,240 --> 00:30:10,200 Speaker 1: or maybe it actually need your help. And so I 671 00:30:10,280 --> 00:30:12,520 Speaker 1: think it can be a great way to like build 672 00:30:12,520 --> 00:30:15,840 Speaker 1: a friendship, not just to be inquisitive for the sake 673 00:30:15,880 --> 00:30:18,280 Speaker 1: of it. Um. I think, yeah, it just needs to 674 00:30:18,320 --> 00:30:20,520 Speaker 1: be a subject that we talk about more as much 675 00:30:20,520 --> 00:30:23,160 Speaker 1: as we talk about our sex lives and our mental 676 00:30:23,280 --> 00:30:25,719 Speaker 1: hang ups too. But let's talk about taxes for just 677 00:30:25,760 --> 00:30:28,760 Speaker 1: a second. Mathrow was another survey we saw this week, 678 00:30:28,960 --> 00:30:30,960 Speaker 1: and it found that lots of folks are relying on 679 00:30:31,000 --> 00:30:35,000 Speaker 1: their upcoming tax refund just to get by. That's not good. 680 00:30:35,040 --> 00:30:37,680 Speaker 1: If you absolutely need your tax refund in order to 681 00:30:37,680 --> 00:30:39,640 Speaker 1: pay bills, that's just that's a really bad sign, right. 682 00:30:39,720 --> 00:30:41,960 Speaker 1: That means that you're not in the kind of financial 683 00:30:42,000 --> 00:30:44,240 Speaker 1: place we want you to be in. And we actually 684 00:30:44,240 --> 00:30:45,960 Speaker 1: have a new article up on the site that we're 685 00:30:45,960 --> 00:30:47,480 Speaker 1: gonna link to in the show notes about how to 686 00:30:47,600 --> 00:30:50,640 Speaker 1: use your tax refund. Well, the tax refund is often 687 00:30:50,680 --> 00:30:53,520 Speaker 1: the biggest windfall the most people receive in a given year, 688 00:30:53,760 --> 00:30:56,320 Speaker 1: so we would say use it wisely for instance, like 689 00:30:56,320 --> 00:30:59,840 Speaker 1: paying off high interest rate debt or juicing your emergency 690 00:31:00,080 --> 00:31:02,040 Speaker 1: Those are two of our favorite routes for you to 691 00:31:02,080 --> 00:31:03,959 Speaker 1: take with that money. A lot of people want to 692 00:31:04,000 --> 00:31:06,440 Speaker 1: get that vacation or something like that with put a 693 00:31:06,440 --> 00:31:09,200 Speaker 1: few thousand dollars of that tax refund towards something fun 694 00:31:09,720 --> 00:31:13,440 Speaker 1: or but yeah, the reality is it's the best way 695 00:31:13,480 --> 00:31:16,160 Speaker 1: to get jump started on some of those bigger financial goals. UH. 696 00:31:16,200 --> 00:31:19,200 Speaker 1: And also, don't bank on as big of a refund 697 00:31:19,280 --> 00:31:21,920 Speaker 1: like last year's. Most folks are likely going to have 698 00:31:22,040 --> 00:31:25,080 Speaker 1: a smaller refund. That's largely because of that some of 699 00:31:25,080 --> 00:31:28,840 Speaker 1: the different expiring pandemic relief measures, the child tax credit 700 00:31:28,880 --> 00:31:31,880 Speaker 1: that went away, so keep that in mind. And if 701 00:31:31,920 --> 00:31:34,120 Speaker 1: you also, if you want to get your refund sooner, 702 00:31:34,440 --> 00:31:37,920 Speaker 1: make sure that you file online and opt for direct deposit. 703 00:31:38,000 --> 00:31:40,040 Speaker 1: We know that most how the money listeners out there 704 00:31:40,080 --> 00:31:42,560 Speaker 1: are already doing this, but you're gonna be waiting a 705 00:31:42,640 --> 00:31:45,400 Speaker 1: whole lot longer if you send in a physical paper 706 00:31:45,400 --> 00:31:49,000 Speaker 1: return or if you request a check from the government, 707 00:31:49,240 --> 00:31:51,760 Speaker 1: so keep that in mind. Personally, I'm afraid of them 708 00:31:51,760 --> 00:31:54,960 Speaker 1: actually gonna be owing money this year for some weird 709 00:31:55,000 --> 00:31:57,680 Speaker 1: financial things from from this past year. So I've got 710 00:31:57,720 --> 00:32:00,520 Speaker 1: some additional money set aside to pay some potential taxes 711 00:32:00,640 --> 00:32:04,080 Speaker 1: all those gambling profits you may be exactly from betting 712 00:32:04,080 --> 00:32:07,520 Speaker 1: on random sports teams, my secret, precious. We'll talk about 713 00:32:07,520 --> 00:32:09,840 Speaker 1: it later. Man. Okay, I guess if you're consistently coming 714 00:32:09,840 --> 00:32:13,120 Speaker 1: out on top, maybe you should be. Yeah. I guess 715 00:32:13,560 --> 00:32:15,240 Speaker 1: if you if you have the foresight somehow, if you 716 00:32:15,360 --> 00:32:16,960 Speaker 1: if you have like a six sense or something about 717 00:32:17,280 --> 00:32:19,920 Speaker 1: you know, sports games in the outcome, maybe maybe so 718 00:32:19,960 --> 00:32:22,280 Speaker 1: then But that's gonna do it for this episode. For 719 00:32:22,320 --> 00:32:24,400 Speaker 1: folks who want show notes and links to some of 720 00:32:24,720 --> 00:32:27,240 Speaker 1: the stuff we mentioned in this episode. You can find 721 00:32:27,280 --> 00:32:29,560 Speaker 1: those up on our website at how to money dot com. 722 00:32:29,600 --> 00:32:31,840 Speaker 1: You can also sign up for our newsletter at how 723 00:32:31,840 --> 00:32:34,520 Speaker 1: the Money dot com slash newsletter. New improved now with 724 00:32:34,560 --> 00:32:37,280 Speaker 1: a glorious referral system that allows you to earn free 725 00:32:37,280 --> 00:32:39,680 Speaker 1: how to Money swag like the coveted how to Money Sucks, 726 00:32:40,080 --> 00:32:42,160 Speaker 1: So check that out. Make it happen. That's right, man. 727 00:32:42,200 --> 00:32:44,320 Speaker 1: So that's gonna be it for this episode until next time. 728 00:32:44,520 --> 00:32:46,520 Speaker 1: Best Friends Out and best Friends Out