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Speaker 1: Welcome to How the Money. I'm Joel and I and

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Speaker 1: that today we're discussing important investing deadlines, appliance shortages, and

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Speaker 1: privacy labels. Yeah, and Joel, you said privacy labels, not

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Speaker 1: private labels. You know, we're not talking about your your

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Speaker 1: new line of men's underwear that you're gonna start rolling out.

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Speaker 1: I don't think I could surpass curriculum signature, man, so

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Speaker 1: I'm not even gonna try. But yeah, no, No, we're

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Speaker 1: talking privacy labels. And this is something that's happening that

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Speaker 1: we're gonna talk about in just a minute, about your

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Speaker 1: privacy and one company that is actually seeking to protect

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Speaker 1: your privacy. We're all a little more concerned about our

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Speaker 1: privacy these days, and rightly so. But we'll get to

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Speaker 1: that story in just a few minutes. Yeah, that's right, man.

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Speaker 1: We've got several stories that we want to get to

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Speaker 1: during this episode, during this Friday flight, where we're looking

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Speaker 1: back at stories from the week and how it does

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Speaker 1: that they affect our personal finances. But first, man, I've

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Speaker 1: got a question for you, and it's not a ruler

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Speaker 1: cheap It's more of a conundrum that I've found myself

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Speaker 1: in which is Yeah, yeah, yeah, I like helping you

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Speaker 1: out of conundrums. I have to do it all the time.

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Speaker 1: By the way, I just want everyone to know that

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Speaker 1: this is a frequent occurrence. So what do I do?

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Speaker 1: So in this case this is a sort of holiday

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Speaker 1: related conundrum. But um, what if you find yourself in

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Speaker 1: a situation where somebody has agreed to a gift maybe

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Speaker 1: let's say an IOU type of gift from previous Christmas,

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Speaker 1: and but they never got around to actually gifting it

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Speaker 1: to you. Is it something that you, you know, raise

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Speaker 1: where you're like, hey, whatever happened to X? You know, like,

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Speaker 1: or is it something that you just kind of, you know,

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Speaker 1: you just right off, you just kind of forget about it, Uh,

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Speaker 1: realize that life gets busy. I think I think there's

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Speaker 1: kind of like a statute of limitations on the I

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Speaker 1: O U, okay, what is your statue of limitations? That

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Speaker 1: because A is Kate. I was talking with her about it,

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Speaker 1: and when I brought it up to her, she was

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Speaker 1: saying that once you're like a year out, it's you're

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Speaker 1: kind of past it. I think she's right, really, yeah,

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Speaker 1: I think you're you're to the point now where like

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Speaker 1: we're we're in the Christmas season following that Christmas where made,

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Speaker 1: and you're past the point of being able to redeem it.

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Speaker 1: I think you're gonna make everybody uncomfortable if you try.

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Speaker 1: So the reason I okay, So here's the thing. I

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Speaker 1: don't really care about the gift. I mean, the gift

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Speaker 1: would be great, right, you know, it's we were excited

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Speaker 1: about it, but whatever you want to hold this person's

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Speaker 1: feet to the fire. It's not about that. It's it's

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Speaker 1: more about the fact that what if they remember in

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Speaker 1: like two or three years from now because there's something

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Speaker 1: related to that, and they're like, oh my gosh, like

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Speaker 1: we we never did this. Well at that point, aren't

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Speaker 1: they gonna feel so bad? And so in my mind,

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Speaker 1: bringing it up is almost a sort of way to

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Speaker 1: kind of just like kind of rectify it, kind of

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Speaker 1: fixed the whole situation without things getting even more awkward

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Speaker 1: down the road. But Kate, she she feels it's already

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Speaker 1: too late. She's afraid of getting too awkward. Whereas I'm

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Speaker 1: on the side of the fence where I'm just like,

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Speaker 1: I don't know. I feel like you could kind of

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Speaker 1: mentioned it, but obviously I haven't completely made up my mind,

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Speaker 1: which is why we're we're talking think about it right now.

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Speaker 1: But but so you wouldn't do it, I wouldn't do

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Speaker 1: you know it. I think it is past that point,

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Speaker 1: uh in time where if you really wanted that thing,

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Speaker 1: you should have brought it up probably three six months ago.

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Speaker 1: Well I didn't. I didn't think about it. Obviously they

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Speaker 1: didn't either. Uh well, okay. Well the fact that you

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Speaker 1: and Kate are both saying that just is something, this

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Speaker 1: is something to forget about it makes me think that

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Speaker 1: maybe I shouldn't bring it up. However, there's still a

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Speaker 1: part of me that really wants to because I'm trying

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Speaker 1: to think about it from my perspective, which is, I

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Speaker 1: know if it was me, like if that's something that

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Speaker 1: I know I had agreed to, I would feel so

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Speaker 1: terrible knowing that I completely forgot about it and it's

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Speaker 1: sort of just out there. Uh you know, it's an

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Speaker 1: end that's not wrapped up yet. And so for me personally,

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Speaker 1: I know if if I've ever done that to anybody,

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Speaker 1: and I actually can think of a specific instance where

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Speaker 1: I do know that I have a gift that's outstanding. Yeah,

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Speaker 1: you're gonna redeem this though, and you're gonna you forego

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Speaker 1: the statute of limitations and you're gonna go give this

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Speaker 1: gift anyway. Absolutely, it's not something we've I guess, really

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Speaker 1: talked about directly recently. But it's something we've talked about

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Speaker 1: kind of on and off in the past year. But

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Speaker 1: this is something that we haven't talked about at all. Yeah,

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Speaker 1: so I don't know that's that's where I land with it,

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Speaker 1: but I guess I'll air more on the side of

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Speaker 1: being maybe socially acceptable versus uh, you know, principally correct.

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Speaker 1: That's Um, that's not usually the choice you make. So

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Speaker 1: I'm proud of you. It's not always the case. I

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Speaker 1: appreciate that. I'm just kidding, but it can be true sometimes.

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Speaker 1: All right, well, let's let's move on to the stories

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Speaker 1: we found interesting. Best of luck resolving that, by the way,

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Speaker 1: math Um and uh and yeah, so we've we've got

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Speaker 1: a lot to cover today. The first thing that we

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Speaker 1: wanted to to bring to your attention, it's just it's

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Speaker 1: just really a quick reminder to everybody out there who's

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Speaker 1: attempting to save for their future. We wanted to get

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Speaker 1: a couple of dates on your calendar if you don't

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Speaker 1: already have them marked. If you contribute to a four

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Speaker 1: oh one K at work, in almost all cases, you

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Speaker 1: only have until the end of the year in order

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Speaker 1: for that money to count towards your contributions. So if

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Speaker 1: you're looking to sakaway a whole lot more in your

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Speaker 1: four oh one K, you're gonna have to go into

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Speaker 1: the system and contribute a whole lot more of your

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Speaker 1: paycheck in this final pay period of the year in

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Speaker 1: order to make that happened. Um. That seems pretty straightforward,

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Speaker 1: but the reason we mentioned it is because that other

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Speaker 1: deadlines aren't actually here yet. So if you're looking to

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Speaker 1: contribute to a traditional or a rath a ray, you

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Speaker 1: actually still got months left to do that. So for

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Speaker 1: individual retirement accounts like that, you have until April fiftee

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Speaker 1: in order to make those contributions count for this year.

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Speaker 1: Knowing those dates can help you with planning. Um can

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Speaker 1: help you be able to potentially even maximize your contributions

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Speaker 1: to one of those accounts when you weren't sure that

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Speaker 1: you would be able to if you thought that the

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Speaker 1: deadline was literally December thirty one of this year, right right, Yeah,

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Speaker 1: So all the note of investing. Many Airbnb hosts were

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Speaker 1: offered the chance to buy Airbnb stock ahead of the

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Speaker 1: initial public offering here recently, they received an email from

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Speaker 1: Airbnb thanking them for being a host, but then giving

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Speaker 1: them a chance to buy a limited number of shares.

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Speaker 1: A lot of hosts, including myself, evidently deleted this email,

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Speaker 1: assuming it was, you know, just spam or just not

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Speaker 1: worth reading. I don't even think I actually received that email,

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Speaker 1: since I've kind of falling off the Airbnb host bandwagon recently.

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Speaker 1: But other hosts bought as much Airbnb stock as they could,

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Speaker 1: so the I p O price was at sixty eight

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Speaker 1: dollars a share, and then the stock price skyrocketed once

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Speaker 1: they debuted to hundred forty four dollars a share. Uh.

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Speaker 1: Many hosts sold immediately, and you know, we're able to

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Speaker 1: walk away from the table with as much as fifteen

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Speaker 1: thousand dollars, which is pretty sweet. You know, Like there's

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Speaker 1: a certain amount of bad for a day's work. Yeah,

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Speaker 1: I see that. I'm just like, dang it, like why

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Speaker 1: didn't I receive that email? But you know, on the

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Speaker 1: other hand, that's you know what we talk about day

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Speaker 1: in and day out. Here. It's to not speculate. That

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Speaker 1: is not how we invest. Yeah, yeah, I mean that

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Speaker 1: that's obviously a lot of money for for someone to

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Speaker 1: make in a day or two. If you did actually

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Speaker 1: read the email, you bought some shares and then you

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Speaker 1: sold quickly when the stock price skyrocketed, you made some

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Speaker 1: quick money. But usually, Matt, you and I were not

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Speaker 1: fans of I p o s or initial public offerings

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Speaker 1: when a stock is first brought out there for investors

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Speaker 1: to to take part in. And in fact, you should

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Speaker 1: probably avoid individual stock investing altogether. Matt and I we

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Speaker 1: don't do any individual stock investing unless you're willing to

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Speaker 1: put in some real work to research companies that you're

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Speaker 1: interested in investing in. And even if you do dabble,

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Speaker 1: make sure that you're still well diversified, keeping most of

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Speaker 1: your retirement money in index funds and or target date

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Speaker 1: retirement funds. And I think, like when I read stories

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Speaker 1: like this, there can be a little bit of fomo.

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Speaker 1: I'm like, man, why was it? Why did I get

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Speaker 1: that email? And like, why didn't I jump in on that?

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Speaker 1: That might be me right, Yeah, I'm sure you're feeling

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Speaker 1: that because you're like I hosted an Airbnb where was

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Speaker 1: my email? Obviously, it would be nice to make fifteen

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Speaker 1: grand and you know, almost no time flat. But these

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Speaker 1: headlines which showcase people making quick money, they're they're kind

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Speaker 1: of fun to read, but they don't make for a

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Speaker 1: good long term investing strategy. So it's one of those

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Speaker 1: things you read it and you're like, good for those people.

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Speaker 1: I'm gonna keep plugging away doing what I do, building

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Speaker 1: well for the long haul. Um, I'm not interested in

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Speaker 1: this kind of speculation. That's right, That's what you and

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Speaker 1: I do, and that's what we recommend here on the

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Speaker 1: show Man. Uh, there was We saw this great article

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Speaker 1: in Wired two that documented how posh Mark, how it's

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Speaker 1: not all that it's cracked up to be. Uh. Pushmark

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Speaker 1: is an app that's it's kind of part eBay, part

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Speaker 1: social media platform where mostly women basically are are able

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Speaker 1: to flip designer clothing to make some money on the side.

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Speaker 1: But with a lot of apps, uh, in these different

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Speaker 1: ecosystems out there that are too easy to to join

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Speaker 1: and to get started in, it can be really difficult

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Speaker 1: to actually make a living wage once you take into

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Speaker 1: account expenses as well as the amount of time that

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Speaker 1: it takes um, A ton of users out there have

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Speaker 1: documented how uh they're on the app just around the clock,

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Speaker 1: working NonStop in order to make sales happen. It's not

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Speaker 1: what you see pushed out there on social media. It's

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Speaker 1: not what they're gonna say on the website, you know,

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Speaker 1: like they're often touting the best case scenario. Right. It's

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Speaker 1: just like with some of the different multi level marketing

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Speaker 1: uh you know companies out there, it's like it's possible

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Speaker 1: to make money. However, it's gonna take a lot of

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Speaker 1: work if you want to be your your own boss

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Speaker 1: within this sort of structure, within this company. All right,

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Speaker 1: So can I flip some of my old navy old

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Speaker 1: old Navy sweaters on Pushmark? You probably could. I'm think

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Speaker 1: they I don't think that's I don't think they do

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Speaker 1: posh enough for posh Mark. I don't even think what's

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Speaker 1: the Lucky Clothing exchange or they won't even accept that. Okay,

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Speaker 1: I mean, seriously, you have to have like nicer stuff

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Speaker 1: in order to actually make money flipping clothing. Count me out.

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Speaker 1: Then unless you got vintage threads, which I know you

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Speaker 1: do have something. I got something, well, yeah, but they're

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Speaker 1: really vintage and really rough. So uh In that in

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Speaker 1: that article they profile the seller who quit her nursing

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Speaker 1: job to go full time doing this. She was thrilled

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Speaker 1: to have eighty tho dollars in revenue a couple of

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Speaker 1: years ago. That sounds great, right, that sounds nice. It

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Speaker 1: sounds like a decent income. But at the end of

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Speaker 1: the year she was surprised to see that she had

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Speaker 1: actually only had a profit of thirty dollars. That is

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Speaker 1: a big bummer. So while it can be great there

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Speaker 1: that there are all sorts of apps like Airbnb, lift,

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Speaker 1: posh mark, other ways that we can make money and

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Speaker 1: have a flexible income in our lives. Gig work has been,

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Speaker 1: in a lot of ways a good thing for so

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Speaker 1: many people trying to make some extra cash. It's also

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Speaker 1: worth highlighting that you often have to be willing to

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Speaker 1: hustle like crazy to make a real amount of money

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Speaker 1: when you join up. It's not easy money, right, It's

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Speaker 1: not like that Airbnb I p O easy money. Yeah,

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Speaker 1: it's not guaranteed. And that's the other thing too, Like

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Speaker 1: I feel like it's more of a temporary solution, right,

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Speaker 1: Like it's more of a stop gap than a long

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Speaker 1: term solution. Where folks can you know, where they're like, oh,

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Speaker 1: I could do this maybe for the next ten years.

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Speaker 1: It's like, well, like he might be able to, but

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Speaker 1: it's gonna take a lot of work. And most folks

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Speaker 1: who they also profiled in our article too, they're talking

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Speaker 1: through how they were able to scale their business, and

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Speaker 1: you know when it's just you kind of you know,

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Speaker 1: working a little bit what you think is a little

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Speaker 1: bit on the side. Uh, it's it's really difficult to

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Speaker 1: scale the business. You have to treat it more like

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Speaker 1: an actual business versus something that you just participated, right, yeah, yeah,

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Speaker 1: So okay. I have a really good friend for a

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Speaker 1: few years, he had like an eBay store where he

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Speaker 1: sold vintage clothing, and he would hit up you know,

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Speaker 1: all the thirst stores and stuff in this part of

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Speaker 1: Florida where he lived, and and man, he would tell

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Speaker 1: me the stories of man I found this, uh, this

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Speaker 1: pair of five dollar boots that I sold for like

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Speaker 1: twenty bucks or something like that. And there were some

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Speaker 1: really cool stories of things where the profit margin was insane.

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Speaker 1: But I think a lot of the items, like he

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Speaker 1: wasn't telling me the stories about this stuff still on

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Speaker 1: his shelf six months a year later, the stuff that

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Speaker 1: he bought that he then took back to goodwill because

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Speaker 1: he couldn't sell it. Right, Well, I don't know, can

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Speaker 1: you take things back to good wheels or return policy?

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Speaker 1: I mean not you can't return it, but you can

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Speaker 1: donate it again, I guess. But he's not getting his

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Speaker 1: money back, but he can rednate it, right. So yeah,

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Speaker 1: there were certainly the occasion where he scored big, but

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Speaker 1: for the most part, trying to turn out a living

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Speaker 1: that way. Um, you know, it worked for a number

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Speaker 1: of years, but but ultimately he decided to go in

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Speaker 1: another direction because it was a lot of work in

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Speaker 1: order to just make an average salary. It is, man. Yeah, uh,

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Speaker 1: let's talk a little bit now about privacy. Not your

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Speaker 1: private label clothing line, but privacy. On Monday, the Federal

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Speaker 1: Trade Commission required a bunch of tech companies like Amazon, TikTok, YouTube,

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Speaker 1: just to name a few, to to disclose how it

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Speaker 1: is that they collect user data as well as what

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Speaker 1: they do with that information. And man, this is important

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Speaker 1: because so many of the apps in the content that

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Speaker 1: we consume doesn't cost us money, but that doesn't mean

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Speaker 1: that they are free, right, They often cost us our data,

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Speaker 1: you know, whether that's a customer profile, what content we like,

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Speaker 1: how often, um, you know, maybe we use the apps.

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Speaker 1: It's important for us to start becoming more aware of

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Speaker 1: the data that we're giving up in order to enjoy

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Speaker 1: all of this free stuff that's out there. And especially too,

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Speaker 1: I mean, we've got kids that are getting older, They're

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Speaker 1: spending more time on their devices, right and you know,

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Speaker 1: they're they're interacting with some of these different apps, and

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Speaker 1: so this is important to not just be aware, you know,

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Speaker 1: for ourselves personally, but you know, for our family, for

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Speaker 1: our kids as well. Yeah, I mean, I personally believe

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Speaker 1: that we should own our own data and that the

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Speaker 1: disclosure should be a whole lot better, um, and that

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Speaker 1: we should get paid for the data that we give

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Speaker 1: to these companies. And I don't mind paying, you know, Facebook,

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Speaker 1: if I want to have a Facebook account, paying a

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Speaker 1: dollar amount every month like I do to Netflix or

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Speaker 1: any other streaming service. But yeah, the the current state

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Speaker 1: of things isn't great and and Apple is one of

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Speaker 1: the only companies out there who's actually, what it seems like,

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Speaker 1: trying to inject some transparency into this space. So, beginning

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Speaker 1: this past Monday, Apple has added privacy labels to all

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Speaker 1: of its apps in the App Store, and I love

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Speaker 1: the fact that there's a standard that the app developers

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Speaker 1: are now being held to. Even though this isn't something universal,

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Speaker 1: Hopefully it's it's going to be more widely adopted in

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Speaker 1: the future. I mean, if we're paying for the ability

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Speaker 1: to use apps by providing our information, like even as

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Speaker 1: specific as location data where we are when we're doing

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Speaker 1: something on that app, it's important to know what they're

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Speaker 1: doing with that data, how it's being used. And for

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Speaker 1: all of our listeners out there, if you didn't get

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Speaker 1: a chance to listen to our conversation with Carol Tario,

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Speaker 1: we talked about cybersecurity a whole lot on episode to

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Speaker 1: seventy one. A lot of good takeaways for how cybersecurity

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Speaker 1: and your money are super entwined and stuff so you

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Speaker 1: can take to protect yourself and your money. Yeah, a

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Speaker 1: lot of folks are pointing out how these labels could

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Speaker 1: be similar to our nutrition labels that that you know

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Speaker 1: that we have on our food, but something that allows

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Speaker 1: us to to see, you know the difference between two products,

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Speaker 1: like how are you collecting my data or how is

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Speaker 1: it that you're you know, collecting my data. I think

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Speaker 1: as we're giving up so much of this precious information

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Speaker 1: about ourselves, you know, like things like our geographic location,

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Speaker 1: like these are things that are really important and you know,

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Speaker 1: we need to be aware first of all that is happening. Um,

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Speaker 1: but also too, I think that can lead us to

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Speaker 1: make different decisions even on on what different types of

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Speaker 1: apps that we do end up using. Yeah, if you

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Speaker 1: want a deeper dive into some of that cybersecurity episode

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Speaker 1: two seventy one, Like Joel mentioned, we've got several more

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Speaker 1: stories that we want to get to. We're definitely gonna

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Speaker 1: talk about that appliance shortage that we're seeing, as well

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Speaker 1: as some year end charity information as well. Gets all

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Speaker 1: that right after this break. All right, we'll back to

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Speaker 1: the break and yeah, Matt, we got more stories to

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Speaker 1: cover on today's Friday flight. Uh. One interesting thing I saw,

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Speaker 1: and this is kind of a random subject I think

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Speaker 1: to throw in here, is furniture shopping. Consumer Reports had

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Speaker 1: a really interesting article about shopping for furniture, and in particular,

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Speaker 1: what I thought was interesting was they focused in on,

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Speaker 1: you know, how people should be approaching online furniture shopping.

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Speaker 1: And I would say, furniture, Is that the only way

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Speaker 1: to shop for furniture right now? Well, now it is.

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Speaker 1: I feel like, um, you know, furniture is probably one

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Speaker 1: of those things where you used to on a bigger

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Speaker 1: ticket item, you'd want to go sit on the couch. Yeah,

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Speaker 1: I kind of push it around a little bit, be like, oh,

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Speaker 1: well this withstand the forces of my children. I mean,

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Speaker 1: I think that's changed a lot because when you look

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Speaker 1: at like mattresses, it used to be you'd go into

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Speaker 1: a store and you lay on a mattress, and now

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Speaker 1: you just order it and there's a you know, hundred

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Speaker 1: day return window if you don't like it. So obviously

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Speaker 1: we're getting used to buying everything online at this point,

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Speaker 1: even you know, expensive furniture. But Consumer Reports did a

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Speaker 1: rating of the best places to buy furniture online, and

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Speaker 1: they took into account selection, quality, delivery issues, and ease

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Speaker 1: of returns. And the top places, according to Consumer Reports

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Speaker 1: to shop for furniture on online is Room and Board,

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Speaker 1: Costco Restoration, Hardware, Amazon, and independent retailers. So, you know,

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Speaker 1: I would suggest to to make sure you read the

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Speaker 1: reviews not only of the item you're buying, but also

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Speaker 1: of the store you're buying from. Before you make a purchase,

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Speaker 1: pay close attention to the return policy to because getting

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Speaker 1: stuck with an uncomfortable or um not good looking sofa

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Speaker 1: because returns are a nightmare is just not a good

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Speaker 1: place to be. That's an expensive purchase, and you don't

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Speaker 1: want to be stuck with something that you don't like. Yeah,

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Speaker 1: that's right, and also too according to consumer reports, you

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Speaker 1: typically get the best price when you purchase online as

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Speaker 1: opposed to buying in person at store. Right. Uh, that's

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Speaker 1: good news for those of us who haven't been doing

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Speaker 1: nearly as much in person buying. But obviously, I mean

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Speaker 1: this makes sense to write, like when you go in

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Speaker 1: store in person, you're kind of there. Yeah, you're kind

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Speaker 1: of committed, like your half your pot committed once you're

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Speaker 1: already standing there in front of the thing. You know,

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Speaker 1: if I had the ability to magically transport myself to

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Speaker 1: another store, well I would, But the fact is you

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Speaker 1: have to load back in the car, drive across town

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Speaker 1: and nobody has time for that. I don't have I

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Speaker 1: don't have time for that. But apparently to you can,

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Speaker 1: you know, be more successful when it you know, when

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Speaker 1: it comes to haggling for a lower price online as well.

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Speaker 1: Don't hesitate to use the chat box to see if

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Speaker 1: there's any way to get a lower price on the

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Speaker 1: furniture items that you may be interested in. Hit them up,

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Speaker 1: see if there's a discount code that they could slide

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Speaker 1: your away. Maybe if you just sign up maybe for

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Speaker 1: a newsletter or something like that, you might be able

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Speaker 1: to score lower price. Yeah, and when you buy that furniture,

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Speaker 1: do not please put it on an installment payment plan.

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Speaker 1: There's a new study mat from Cardify and it shows

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Speaker 1: that almost half of consumers are planning to purchase holiday

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Speaker 1: gifts via this method. And you know, maybe not a couch,

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Speaker 1: but just whatever you're planning to buy now, just furniture,

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Speaker 1: like anything and everything online, including men's underwear. They're wanting

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Speaker 1: you to split it up into payments. Yeah. You you

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Speaker 1: probably literally can buy buy a pack of underwear and

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Speaker 1: pay for it over six months or something like that,

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Speaker 1: but that is ill advised. You should not do that.

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Speaker 1: Many people are actually spending more because they can put

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Speaker 1: off payments until further down the road, but then if

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Speaker 1: a payment's missed, you'll owe deferred interest, potentially even penalties

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Speaker 1: in addition to that. So if you see the pitch

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Speaker 1: at checkout to break up your purchase into multiple installments,

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Speaker 1: whether you're buying furniture or something else, just say no.

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Speaker 1: I mean, just like Nancy Reagan wanted us to do

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Speaker 1: to drugs back in the day. It's the only course

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Speaker 1: of actions. And so we've all seen companies after pay

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Speaker 1: or a firm. You know, you've seen their logos next

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Speaker 1: to your final price there when you're you know, on

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Speaker 1: the checkout page ordering online. But why pay a hundred

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Speaker 1: dollars when you could pay twelve? And you're like, yeah,

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Speaker 1: that does sound like it's tempting, you know, but so

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Speaker 1: many folks are pitching this promise of ease, right. But

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Speaker 1: you know, what it usually means is that you're overspending uh,

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Speaker 1: and can often mean to a debt hangover come January

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Speaker 1: and also to man even though even if you do

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Speaker 1: make your payments on time and you're not hit with

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Speaker 1: any of these additional fees or interest, it's bad because

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Speaker 1: it just turns us into payment buyers. You know, we're

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Speaker 1: not thinking about the overall costs and whether or not

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Speaker 1: this is a wise decision. Uh. It breaks up whether

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Speaker 1: or not this is a good decision into these easier

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Speaker 1: to swallow payments where you don't have to think about

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Speaker 1: it as much. You know, these payments mean like more

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Speaker 1: consumption and more buying and you know, more being on

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Speaker 1: these payment plans and less like thinking and saving for

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Speaker 1: these purchases, which is how you and I like to

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Speaker 1: approach these kind of purchases. Yeah, and obviously it's just

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Speaker 1: a riskier way to buy two because of the potential

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Speaker 1: for interest and penalties. All right, well, speaking of buying stuff,

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Speaker 1: let's move on. I'm in the market right now for

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Speaker 1: a new dishwasher. Mine has kind of bit the dust recently.

427
00:19:05,560 --> 00:19:07,040
Speaker 1: We've had some issues with it. Yeah, I'm trying to

428
00:19:07,080 --> 00:19:09,280
Speaker 1: decide whether I repair it or replace it. Um, And

429
00:19:09,320 --> 00:19:11,200
Speaker 1: it turns out I might have to repair it because

430
00:19:11,240 --> 00:19:13,600
Speaker 1: there's a massive appliance shortage going on. You don't have

431
00:19:13,600 --> 00:19:15,879
Speaker 1: a choice, man, you know, you gotta repair it. I

432
00:19:15,880 --> 00:19:19,440
Speaker 1: mean basically, So, I literally bought a dish washer online

433
00:19:19,720 --> 00:19:22,400
Speaker 1: for pick up at a local hardware store, and then

434
00:19:22,440 --> 00:19:24,040
Speaker 1: I got a phone call and they were like, yeah,

435
00:19:24,080 --> 00:19:26,520
Speaker 1: actually we don't have that sorry. So so really, like

436
00:19:26,600 --> 00:19:29,560
Speaker 1: this shortages is legit and um and so basically I

437
00:19:29,560 --> 00:19:31,919
Speaker 1: wanted to let everybody know that that the pandemic has

438
00:19:32,000 --> 00:19:35,760
Speaker 1: essentially eliminated your ability to score a deal on many

439
00:19:35,800 --> 00:19:38,360
Speaker 1: appliances right now, or maybe even to buy it at all.

440
00:19:38,680 --> 00:19:42,080
Speaker 1: So if you're looking to buy an appliance, you're not

441
00:19:42,160 --> 00:19:44,640
Speaker 1: likelihood you're gonna pay full price because of this shortage.

442
00:19:45,000 --> 00:19:48,719
Speaker 1: Some people are apparently waiting months to have certain appliances delivered,

443
00:19:48,720 --> 00:19:50,359
Speaker 1: like they bought something in the summer and they're finally

444
00:19:50,400 --> 00:19:53,280
Speaker 1: getting it delivered now. So if your appliance bit the dust,

445
00:19:53,640 --> 00:19:55,639
Speaker 1: of course you gotta start shopping like a maniac, like

446
00:19:55,680 --> 00:19:58,440
Speaker 1: you gotta look around and find something to replace it.

447
00:19:58,880 --> 00:20:00,800
Speaker 1: Just no, it's gonna take some persistence, it's going to

448
00:20:00,880 --> 00:20:02,720
Speaker 1: be a little bit harder. But if you're just looking

449
00:20:02,720 --> 00:20:04,920
Speaker 1: to like upgrade an appliance right now, it's going to

450
00:20:05,000 --> 00:20:07,200
Speaker 1: be best to hold off for at least a few

451
00:20:07,200 --> 00:20:10,159
Speaker 1: more months until appliance supplies get back to normal and

452
00:20:10,160 --> 00:20:12,280
Speaker 1: the pricing of appliances gets back to more of a

453
00:20:12,280 --> 00:20:14,639
Speaker 1: state of normalcy. Yeah, that's true, man, But you know,

454
00:20:14,640 --> 00:20:16,520
Speaker 1: if someone is in a situation more like you, or

455
00:20:16,520 --> 00:20:18,600
Speaker 1: they need one as soon as possible, you know one.

456
00:20:18,640 --> 00:20:20,840
Speaker 1: I think one of the best suggestions when shopping for

457
00:20:20,880 --> 00:20:23,280
Speaker 1: an appliance these days is to maybe maybe just order

458
00:20:23,359 --> 00:20:25,720
Speaker 1: an appliance that looks you know, pretty good, but then

459
00:20:25,840 --> 00:20:28,159
Speaker 1: keep browsing. Right. It's kind of like, uh, you know,

460
00:20:28,200 --> 00:20:30,800
Speaker 1: booking an Airbnb that's got a two day cancelation window.

461
00:20:31,240 --> 00:20:33,200
Speaker 1: Just book it, you know, if it looks solid, but

462
00:20:33,240 --> 00:20:35,399
Speaker 1: then keep looking for you know, maybe that perfect place

463
00:20:35,720 --> 00:20:37,919
Speaker 1: within that next forty eight hours. Just make sure you

464
00:20:37,960 --> 00:20:40,800
Speaker 1: are certainly aware of the return policy, you know, of

465
00:20:40,880 --> 00:20:43,119
Speaker 1: the appliance store where you're purchasing that appliance to to

466
00:20:43,119 --> 00:20:44,960
Speaker 1: make sure that you know, if you do find something better,

467
00:20:45,080 --> 00:20:47,080
Speaker 1: or find something that's a lower price, that you can

468
00:20:47,080 --> 00:20:48,560
Speaker 1: either return it or you can check and see if

469
00:20:48,600 --> 00:20:50,919
Speaker 1: they will match that price. Um And also too, if

470
00:20:50,960 --> 00:20:53,280
Speaker 1: you can pick that item up in person, you'll likely

471
00:20:53,320 --> 00:20:56,040
Speaker 1: be able to get it a lot more quickly, you know,

472
00:20:56,080 --> 00:20:58,359
Speaker 1: then by scheduling a delivery date you know with the

473
00:20:58,400 --> 00:21:00,480
Speaker 1: store that you're buying it from. This is when having

474
00:21:00,520 --> 00:21:04,120
Speaker 1: a minivan certainly comes in handy. I find myself attracted

475
00:21:04,160 --> 00:21:05,600
Speaker 1: to the fact that it's saving me money, but it

476
00:21:05,640 --> 00:21:07,480
Speaker 1: also allows me to get what I need as fast

477
00:21:07,480 --> 00:21:10,159
Speaker 1: as possible. All the minivans so versatile, plus you look

478
00:21:10,200 --> 00:21:14,040
Speaker 1: studly driving it, you know, perfect combo. But aside from that, Matt,

479
00:21:14,080 --> 00:21:16,359
Speaker 1: we actually had to break down, get a repair person

480
00:21:16,400 --> 00:21:18,880
Speaker 1: out there, and hopefully our dishwasher is gonna get fixed

481
00:21:18,920 --> 00:21:21,440
Speaker 1: next week. So man, washing dishes by hand, Like, once

482
00:21:21,480 --> 00:21:23,919
Speaker 1: you've had a dishwasher, you know, like most people do,

483
00:21:23,960 --> 00:21:25,879
Speaker 1: I guess, And then you go back to washing dishes

484
00:21:25,880 --> 00:21:28,879
Speaker 1: by hand and drying them, you realize why dishwashers exist.

485
00:21:28,960 --> 00:21:31,879
Speaker 1: Like they're not perfect obviously, but man, they definitely they

486
00:21:31,920 --> 00:21:34,000
Speaker 1: get the job done. Yeah, especially when you got you know,

487
00:21:34,080 --> 00:21:36,200
Speaker 1: three kids, You're you're going through a lot of dishes.

488
00:21:36,320 --> 00:21:37,919
Speaker 1: The first house family and I bought did not have

489
00:21:37,960 --> 00:21:40,359
Speaker 1: a dishwasher, and we were also just the two of

490
00:21:40,359 --> 00:21:42,879
Speaker 1: you that it was almost like romantic to do the

491
00:21:42,880 --> 00:21:45,000
Speaker 1: dishes together. We're like, oh, this is great, this is

492
00:21:45,040 --> 00:21:50,040
Speaker 1: so sweet, right exactly exactly, and and now now we

493
00:21:50,240 --> 00:21:53,000
Speaker 1: want the dishwasher back so much. All right, let's talk

494
00:21:53,000 --> 00:21:55,320
Speaker 1: about charity to Matt. Like we're reaching the end of

495
00:21:55,320 --> 00:21:56,959
Speaker 1: the year, which means that a lot of folks are

496
00:21:56,960 --> 00:22:00,919
Speaker 1: considering making a final charitable donation, and as generous as

497
00:22:00,920 --> 00:22:03,160
Speaker 1: we are here in the United States, according to Forbes,

498
00:22:03,680 --> 00:22:06,400
Speaker 1: Ireland was the most generous country is here. Yeah, as

499
00:22:06,440 --> 00:22:09,800
Speaker 1: measured by donations per capita. That lines up with how

500
00:22:09,840 --> 00:22:12,680
Speaker 1: we view the Irish right artist, When we visited, yeah,

501
00:22:12,720 --> 00:22:14,639
Speaker 1: you know, I went on a little vacation with our wives.

502
00:22:14,680 --> 00:22:17,480
Speaker 1: This is like several years ago now. We had a blast,

503
00:22:17,520 --> 00:22:19,480
Speaker 1: a lot of kind people. I would even say that

504
00:22:19,520 --> 00:22:21,520
Speaker 1: they were very generous. They were, they were. They didn't

505
00:22:21,640 --> 00:22:23,880
Speaker 1: hand me money, but I'm gonna expect that next time

506
00:22:23,880 --> 00:22:27,520
Speaker 1: I got And let's talk about tax deductions. You probably

507
00:22:27,520 --> 00:22:30,119
Speaker 1: shouldn't be giving in order just to receive a tax deduction,

508
00:22:30,320 --> 00:22:33,360
Speaker 1: right There other amazing reasons to give of your money.

509
00:22:33,440 --> 00:22:35,640
Speaker 1: But just a quick reminder that because of the Cares Act,

510
00:22:35,720 --> 00:22:39,160
Speaker 1: even individuals taking the standard deduction, which is a huge

511
00:22:39,200 --> 00:22:42,359
Speaker 1: percentage of people, are able to receive a three above

512
00:22:42,400 --> 00:22:45,439
Speaker 1: the line deduction for charitable giving this year, which is

513
00:22:45,480 --> 00:22:47,800
Speaker 1: a nice little bonus if you're looking to give away

514
00:22:47,800 --> 00:22:49,520
Speaker 1: some money towards the end of the year. Yeah. Man,

515
00:22:49,560 --> 00:22:52,480
Speaker 1: you know, many many Americans are obviously struggling a lot

516
00:22:52,560 --> 00:22:54,119
Speaker 1: right now, and you know, I think that need is

517
00:22:54,320 --> 00:22:56,119
Speaker 1: you know, even more keenly felt this time of year.

518
00:22:56,160 --> 00:22:59,879
Speaker 1: I saw that more folks are resorting to shoplifting food.

519
00:23:00,119 --> 00:23:03,480
Speaker 1: You know, like like grocery stores are seeing shrinkage become

520
00:23:03,600 --> 00:23:07,280
Speaker 1: larger and larger as we've gotten further into But you know,

521
00:23:07,400 --> 00:23:10,120
Speaker 1: as our lives and you know, our giving might look

522
00:23:10,160 --> 00:23:12,440
Speaker 1: a little bit differently this year, I think it's still

523
00:23:12,440 --> 00:23:14,000
Speaker 1: important to make sure that, you know, we are all

524
00:23:14,000 --> 00:23:17,680
Speaker 1: still participating and fostering an attitude of generosity as as

525
00:23:17,720 --> 00:23:20,720
Speaker 1: many nonprofits are looking for those you know, end of

526
00:23:20,720 --> 00:23:23,840
Speaker 1: the year donations. Um, it is cool to see organizations

527
00:23:23,880 --> 00:23:27,040
Speaker 1: like the Salvation Army they're shifting to digital wallet donations

528
00:23:27,080 --> 00:23:30,480
Speaker 1: by placing Google pay or Apple Plaine QR codes on

529
00:23:30,520 --> 00:23:32,360
Speaker 1: their you know those the red kettles that they've got

530
00:23:32,400 --> 00:23:35,440
Speaker 1: hanging there from the chains. But as times are changing,

531
00:23:35,440 --> 00:23:38,399
Speaker 1: they're doing that to help facilitate contactless payments, and folks

532
00:23:38,400 --> 00:23:41,159
Speaker 1: are just used to mobile contactless payments like that. I

533
00:23:41,160 --> 00:23:43,560
Speaker 1: think it's it's so great man, Personally, the digital wallets

534
00:23:43,600 --> 00:23:46,200
Speaker 1: is something that you and I canna relate late to

535
00:23:46,280 --> 00:23:48,399
Speaker 1: the game into the game, but man, like I use

536
00:23:48,480 --> 00:23:50,800
Speaker 1: that every chains I can. Now, it's just so easy.

537
00:23:50,800 --> 00:23:52,200
Speaker 1: I don't have to pull out my wallet and kind

538
00:23:52,200 --> 00:23:55,000
Speaker 1: of you know, fish for the correct card, uh, you know,

539
00:23:55,040 --> 00:23:56,720
Speaker 1: the card that I normally use when i'm you know, out,

540
00:23:56,840 --> 00:23:58,679
Speaker 1: you know, at the grocery store. I just hold up

541
00:23:58,680 --> 00:24:00,240
Speaker 1: my iPhone and do the double click. Man, it's good

542
00:24:00,240 --> 00:24:03,040
Speaker 1: to go. Yeah, no, it's pretty smooth. It's definitely um

543
00:24:03,240 --> 00:24:05,919
Speaker 1: sped me up at the grocery store checkout. Ye. Hopefully

544
00:24:05,920 --> 00:24:08,400
Speaker 1: it will speed up donations as well. Yeah yeah. And

545
00:24:08,720 --> 00:24:11,440
Speaker 1: you know, we talk about employers matching retirement contributions Matt,

546
00:24:11,480 --> 00:24:14,720
Speaker 1: but some companies are actually matching their employees charitable giving.

547
00:24:15,000 --> 00:24:17,240
Speaker 1: For example, we saw the Comcast is matching the first

548
00:24:17,280 --> 00:24:20,760
Speaker 1: thousand dollars of charitable giving at one So if you

549
00:24:20,800 --> 00:24:23,040
Speaker 1: work there and you donate a thousand dollars, Comcast is

550
00:24:23,040 --> 00:24:25,480
Speaker 1: gonna match that donation and a total of two thousand

551
00:24:25,480 --> 00:24:28,119
Speaker 1: dollars is going to be given. And that's specifically to

552
00:24:28,240 --> 00:24:30,200
Speaker 1: the charity that you're donating to as well, which is

553
00:24:30,240 --> 00:24:33,240
Speaker 1: super cool. And don't forget to research a nonprofit that

554
00:24:33,240 --> 00:24:35,640
Speaker 1: you're considering donating to at a site like give dot

555
00:24:35,720 --> 00:24:39,040
Speaker 1: org or a crowd sourced review site like Great Nonprofits

556
00:24:39,080 --> 00:24:41,280
Speaker 1: dot org. And listen back to episode two eighty one

557
00:24:41,320 --> 00:24:44,920
Speaker 1: if you're looking for an entire episode dedicated to why

558
00:24:45,040 --> 00:24:48,240
Speaker 1: and how you can most effectively give to charities. We

559
00:24:48,320 --> 00:24:50,359
Speaker 1: released that just last month, so there's a lot of

560
00:24:50,400 --> 00:24:53,000
Speaker 1: pertinent and relevant information in there for you and man.

561
00:24:53,040 --> 00:24:56,160
Speaker 1: One other thing, you can donate unused frequent flyer miles.

562
00:24:56,440 --> 00:24:58,480
Speaker 1: If you've got a lot of miles piled up with

563
00:24:58,520 --> 00:25:02,480
Speaker 1: a particular airline and they are set to expire, or

564
00:25:02,560 --> 00:25:03,840
Speaker 1: you know, if you just want to, you know, do

565
00:25:03,920 --> 00:25:07,359
Speaker 1: something nice, you can give those miles away. Many airlines

566
00:25:07,440 --> 00:25:10,640
Speaker 1: have partnered with nonprofits that turn your miles into helping

567
00:25:10,680 --> 00:25:14,480
Speaker 1: others UH for instance, like transporting wounded vets or helping

568
00:25:14,520 --> 00:25:17,639
Speaker 1: refugees and asylum seekers. You can either log into your

569
00:25:17,680 --> 00:25:21,040
Speaker 1: miles account to see what nonprofits your airline partners with,

570
00:25:21,520 --> 00:25:25,760
Speaker 1: or you can look specifically for organizations that take airline

571
00:25:25,800 --> 00:25:29,160
Speaker 1: mile donations, like Miles for Migrants as well as give

572
00:25:29,200 --> 00:25:31,159
Speaker 1: a Mile. There's a lot of great nonprofits out there,

573
00:25:31,200 --> 00:25:33,600
Speaker 1: a lot of different options for you to UH to

574
00:25:33,760 --> 00:25:36,000
Speaker 1: give out of your abundance this year, So make sure

575
00:25:36,040 --> 00:25:38,400
Speaker 1: that you're keeping that in mind as we round out,

576
00:25:39,400 --> 00:25:40,840
Speaker 1: and we'll make sure to to link to those two

577
00:25:40,920 --> 00:25:43,320
Speaker 1: organizations as well as any of the other resources that

578
00:25:43,359 --> 00:25:45,600
Speaker 1: we mentioned during this episode. We'll have those up on

579
00:25:45,600 --> 00:25:47,840
Speaker 1: our show notes on our website at how to money

580
00:25:47,840 --> 00:25:50,200
Speaker 1: dot com, And don't forget to subscribe to the show,

581
00:25:50,240 --> 00:25:53,119
Speaker 1: because on Monday, we've got an awesome interview coming up

582
00:25:53,119 --> 00:25:55,520
Speaker 1: with Rachel Cruz. She just wrote a book that's coming

583
00:25:55,520 --> 00:25:58,440
Speaker 1: out next month that covers our behavior and our money,

584
00:25:58,440 --> 00:26:00,720
Speaker 1: and so we had just to really interesting conversation that

585
00:26:00,760 --> 00:26:03,280
Speaker 1: we can't wait to share with you on Monday's episode.

586
00:26:03,600 --> 00:26:06,880
Speaker 1: But until next time, Buddy, best Friends Out, Best Friends Out,