1 00:00:00,160 --> 00:00:02,680 Speaker 1: Welcome to How the Money. I'm Joel and I and Matt, 2 00:00:02,800 --> 00:00:05,920 Speaker 1: and today we're discussing what to do with stimulus checks 3 00:00:05,960 --> 00:00:28,120 Speaker 1: and tax refunds. That's right, Joel, We're going to talk 4 00:00:28,160 --> 00:00:31,520 Speaker 1: about what to do with a little infusion of cash 5 00:00:31,560 --> 00:00:34,360 Speaker 1: into our bank accounts. Man. But first we wanted to 6 00:00:34,360 --> 00:00:37,600 Speaker 1: acknowledge that while we talk about personal finances and money 7 00:00:37,920 --> 00:00:41,840 Speaker 1: every episode, a lot of individuals have lost their lives 8 00:00:42,000 --> 00:00:45,320 Speaker 1: due to the coronavirus. Hopefully the worst is behind us, 9 00:00:45,960 --> 00:00:47,920 Speaker 1: as it looks like we may have hit our peak 10 00:00:48,080 --> 00:00:51,360 Speaker 1: last week. But our hearts go out to all the 11 00:00:51,400 --> 00:00:55,560 Speaker 1: individuals whose health has been impacted by this virus, and 12 00:00:55,600 --> 00:00:58,720 Speaker 1: we feel for the families who have suffered losses. And 13 00:00:58,720 --> 00:01:01,120 Speaker 1: we're thankful for everyone who is putting their lives at 14 00:01:01,200 --> 00:01:03,480 Speaker 1: risk right now as well, all the nurses, all the doctors, 15 00:01:03,720 --> 00:01:06,400 Speaker 1: all those who have essential jobs keeping food on the shelves, 16 00:01:06,840 --> 00:01:09,440 Speaker 1: first responders, keeping us safe. We're thankful for all of 17 00:01:09,440 --> 00:01:11,679 Speaker 1: you out there as well. Yeah, man, I think we're 18 00:01:11,720 --> 00:01:14,600 Speaker 1: all so ready to be done with this virus and 19 00:01:14,600 --> 00:01:16,600 Speaker 1: hopefully we're out of the wood soon on the health 20 00:01:16,600 --> 00:01:18,800 Speaker 1: side of this, But you know, the money side is 21 00:01:18,800 --> 00:01:21,399 Speaker 1: another thing. That's had an impact, and and it has 22 00:01:21,400 --> 00:01:24,240 Speaker 1: been getting worse and worse as the unemployment numbers go 23 00:01:24,360 --> 00:01:27,039 Speaker 1: up and and the stimulus build. These stimulus checks that 24 00:01:27,120 --> 00:01:29,200 Speaker 1: we should be starting to to receive in our accounts 25 00:01:29,400 --> 00:01:31,920 Speaker 1: any day now, those are going to have a major 26 00:01:31,959 --> 00:01:35,880 Speaker 1: impact on our ability as individual Americans to weather this 27 00:01:35,959 --> 00:01:38,399 Speaker 1: storm and to stay financially solvent. And of course the 28 00:01:38,520 --> 00:01:41,480 Speaker 1: negative financial impact is all because of this virus that 29 00:01:41,520 --> 00:01:43,520 Speaker 1: we just can't control, which is which is just a 30 00:01:43,520 --> 00:01:46,000 Speaker 1: weird place to be in. Yeah, man, so weird. Hopefully 31 00:01:46,000 --> 00:01:48,440 Speaker 1: these checks, along with the other stimulus measures that were 32 00:01:48,480 --> 00:01:51,520 Speaker 1: part of the Cares Act, will will allow our economy 33 00:01:51,520 --> 00:01:53,240 Speaker 1: to bounce back, right, Like this is something that some 34 00:01:53,280 --> 00:01:55,520 Speaker 1: of the different economists are pointing to, like that they're 35 00:01:55,560 --> 00:01:57,600 Speaker 1: they're talking about the shape of the rebound. I don't 36 00:01:57,600 --> 00:01:59,120 Speaker 1: know if you've seen some of those articles you versus 37 00:01:59,160 --> 00:02:01,600 Speaker 1: V or yeah, you versus the V. Yeah, the different 38 00:02:01,640 --> 00:02:05,840 Speaker 1: letters of the alphabet letter not exactly. Well, that's what 39 00:02:05,880 --> 00:02:08,639 Speaker 1: they're saying, like you or a V sort of shape 40 00:02:08,720 --> 00:02:10,480 Speaker 1: is that's ideal, right, because that means we're kind of 41 00:02:10,480 --> 00:02:13,200 Speaker 1: bouncing back pretty quick. A w is is is if 42 00:02:13,240 --> 00:02:17,040 Speaker 1: we basically have like a second wave, like another cycle 43 00:02:17,480 --> 00:02:19,880 Speaker 1: of people getting sick of the economy going through a 44 00:02:19,960 --> 00:02:22,880 Speaker 1: rough patch, and that's kind of, uh, you know, not 45 00:02:23,000 --> 00:02:26,239 Speaker 1: ideal situation. And they they're talking about l how that's 46 00:02:26,280 --> 00:02:29,440 Speaker 1: like the worst case situation. It's pretty basically where it 47 00:02:29,520 --> 00:02:31,200 Speaker 1: drops and then you know, that's kind of world we've been. 48 00:02:31,240 --> 00:02:32,799 Speaker 1: And then if it sits there for you know, for 49 00:02:32,840 --> 00:02:35,480 Speaker 1: the foreseeable future, hopefully that won't be the case, right 50 00:02:35,800 --> 00:02:38,680 Speaker 1: with these different economic measures that have been taken. Between 51 00:02:38,720 --> 00:02:42,160 Speaker 1: that and hopefully getting a better hold and better control 52 00:02:42,240 --> 00:02:44,840 Speaker 1: over the virus and how to treat it in ways 53 00:02:44,880 --> 00:02:48,000 Speaker 1: that we know that we should most definitely be taking precautions. Now. 54 00:02:48,040 --> 00:02:49,880 Speaker 1: I feel like early on, a lot of folks, you know, 55 00:02:49,919 --> 00:02:51,959 Speaker 1: like they're still you know, going on the belt line. 56 00:02:52,000 --> 00:02:53,800 Speaker 1: Like that's something here in Atlanta where there's just tons 57 00:02:53,840 --> 00:02:56,160 Speaker 1: of folks, in particular young folks just kind of out 58 00:02:56,200 --> 00:02:58,720 Speaker 1: and about, still living their life, hanging out on patios 59 00:02:58,720 --> 00:03:01,880 Speaker 1: with their friends. But everyone is very well aware of 60 00:03:01,960 --> 00:03:04,680 Speaker 1: the dangerous to that, and I mean it's basically illegal now, 61 00:03:04,800 --> 00:03:07,359 Speaker 1: like Atlanta's under lockdown. And maybe that's like a little 62 00:03:07,400 --> 00:03:09,400 Speaker 1: too long, but you know, we certainly have seen how 63 00:03:09,440 --> 00:03:11,880 Speaker 1: that's now necessary and how that's a good thing. Yeah, 64 00:03:11,919 --> 00:03:13,840 Speaker 1: and Matt, we're gonna get into kind of how people 65 00:03:13,880 --> 00:03:16,919 Speaker 1: should think about this money being you know, transferred to 66 00:03:16,919 --> 00:03:20,919 Speaker 1: their bank account essentially. And we realized too, it's April fifteenth. 67 00:03:21,080 --> 00:03:24,640 Speaker 1: That's typically tax Day in the US. Not so this year. 68 00:03:24,880 --> 00:03:27,840 Speaker 1: It's hyper rare to have tax Day not beyond April fifteen. 69 00:03:27,880 --> 00:03:29,799 Speaker 1: It's been pushed back three months, which is good news 70 00:03:29,840 --> 00:03:32,000 Speaker 1: for people who especially oh the I R s and 71 00:03:32,000 --> 00:03:34,440 Speaker 1: need to keep more cash in their pockets. But traditionally 72 00:03:34,440 --> 00:03:38,160 Speaker 1: April tax Day, and what that normally means is that, yeah, 73 00:03:38,160 --> 00:03:40,200 Speaker 1: you're gonna a lot of folks do get a check 74 00:03:40,200 --> 00:03:41,880 Speaker 1: in the mail completely not in the mail, it just 75 00:03:41,880 --> 00:03:43,600 Speaker 1: shows up in your bank account, right. Yeah, So we're 76 00:03:43,600 --> 00:03:45,000 Speaker 1: gonna talk about what to do with that. But Matt, 77 00:03:45,000 --> 00:03:46,960 Speaker 1: first we should mention the beer that we're having on 78 00:03:46,960 --> 00:03:49,360 Speaker 1: the show today. We're drinking Space Lettuce by Monday Night 79 00:03:49,360 --> 00:03:51,640 Speaker 1: Brewing and this is a double I P A from 80 00:03:51,680 --> 00:03:53,840 Speaker 1: from our friends just around the corner. Yeah, Man, we've 81 00:03:53,880 --> 00:03:55,960 Speaker 1: had several of their beers on lately, and that's in 82 00:03:56,000 --> 00:03:59,080 Speaker 1: an effort to make sure that we're supporting our local brewery. 83 00:03:59,080 --> 00:04:01,040 Speaker 1: They're one of our favorites. If you've never had a 84 00:04:01,080 --> 00:04:03,680 Speaker 1: money Night brewery and you are in the Southeast, let 85 00:04:03,760 --> 00:04:05,120 Speaker 1: them up and see if you can get your hand 86 00:04:05,120 --> 00:04:06,960 Speaker 1: on some of their beer. All right, Matt, let's get 87 00:04:06,960 --> 00:04:09,200 Speaker 1: onto the subject at hand. We've already kind of been 88 00:04:09,320 --> 00:04:11,400 Speaker 1: introducing it and talking about it, but we're talking about 89 00:04:11,560 --> 00:04:14,080 Speaker 1: what to do with stimulus checks and tax refunds, and 90 00:04:14,120 --> 00:04:16,120 Speaker 1: there are two big windfalls that might be hitting our 91 00:04:16,120 --> 00:04:19,280 Speaker 1: accounts any day. Some people have filed their taxes early, 92 00:04:19,520 --> 00:04:23,200 Speaker 1: they have received a tax refund already. That's me, I 93 00:04:23,200 --> 00:04:25,680 Speaker 1: already got my refund. Well's you haven't spent it already yet. 94 00:04:25,720 --> 00:04:27,320 Speaker 1: Right now, you're waiting for this episode to come out 95 00:04:27,320 --> 00:04:29,280 Speaker 1: to know what to do with your money. I have 96 00:04:29,320 --> 00:04:32,880 Speaker 1: to wait and defer to myself. But for most people, 97 00:04:32,880 --> 00:04:35,240 Speaker 1: it's typically just once a year that they experienced a 98 00:04:35,320 --> 00:04:38,640 Speaker 1: lumps on payment like this, and the typical tax refund 99 00:04:38,680 --> 00:04:40,919 Speaker 1: is about three thousand bucks. And with the addition of 100 00:04:40,920 --> 00:04:43,719 Speaker 1: the stimulus checks being sent to most individuals and households 101 00:04:43,880 --> 00:04:46,760 Speaker 1: across the country, we're looking at more of a windfall 102 00:04:46,800 --> 00:04:49,640 Speaker 1: than normal, and there's more opportunity for us to potentially 103 00:04:49,640 --> 00:04:52,840 Speaker 1: handle this poorly, So what should you prioritize with that money? Well, 104 00:04:52,880 --> 00:04:54,800 Speaker 1: we've got some thoughts. All the part of it depends 105 00:04:54,839 --> 00:04:57,520 Speaker 1: on your specific situation. We will discuss a lot of 106 00:04:57,600 --> 00:05:00,599 Speaker 1: nuance in today's episode for kind of how different people 107 00:05:00,760 --> 00:05:03,040 Speaker 1: who have different varying factors in their lives, like how 108 00:05:03,120 --> 00:05:05,560 Speaker 1: how they should consider this money as it flows into 109 00:05:05,600 --> 00:05:08,800 Speaker 1: their account and how they should be handling it. Yeahual receiving, 110 00:05:09,120 --> 00:05:11,280 Speaker 1: you know, a large windfall like this, a little cash 111 00:05:11,279 --> 00:05:14,480 Speaker 1: infusion of money, it doesn't happen all that often, so 112 00:05:14,520 --> 00:05:16,960 Speaker 1: it's no surprise that we're not at all that create 113 00:05:17,120 --> 00:05:20,000 Speaker 1: at doing something smart with that money. So must of 114 00:05:20,040 --> 00:05:22,440 Speaker 1: just think of it as just a bonus check that 115 00:05:22,480 --> 00:05:26,159 Speaker 1: we should spend like a percent of it. And for 116 00:05:26,160 --> 00:05:29,800 Speaker 1: for people who diligently prioritize saving and investing like all 117 00:05:29,839 --> 00:05:32,640 Speaker 1: throughout the year, that might be okay. But for most people, 118 00:05:32,800 --> 00:05:35,160 Speaker 1: a more thoughtful approach is going to be in order. 119 00:05:35,440 --> 00:05:37,120 Speaker 1: We don't want to blow the easiest chance we get 120 00:05:37,160 --> 00:05:39,440 Speaker 1: to start an emergency fund or paid down some of 121 00:05:39,480 --> 00:05:42,200 Speaker 1: our pesky high interest rate debts and all the tax 122 00:05:42,240 --> 00:05:45,440 Speaker 1: refund front, it's important to question whether or not we 123 00:05:45,480 --> 00:05:48,120 Speaker 1: should be getting you know, any money at all. You know, 124 00:05:48,160 --> 00:05:50,000 Speaker 1: a lot of people are used to giving that tax 125 00:05:50,040 --> 00:05:53,160 Speaker 1: refund check, but ultimately it's not ideal because it is 126 00:05:53,560 --> 00:05:56,479 Speaker 1: kind of in essence in interest free loan that we're 127 00:05:56,480 --> 00:05:58,560 Speaker 1: giving to the government, We're letting them hold our money 128 00:05:58,600 --> 00:06:00,240 Speaker 1: the entire year and then they give it back to us. 129 00:06:00,400 --> 00:06:02,160 Speaker 1: And so if you are one of those people who's 130 00:06:02,200 --> 00:06:06,039 Speaker 1: receiving several thousand dollars back this year after you filed 131 00:06:06,040 --> 00:06:07,880 Speaker 1: your taxes, well it might be time for you to 132 00:06:07,920 --> 00:06:10,520 Speaker 1: make some adjustments to your tax withholding. The goal should 133 00:06:10,520 --> 00:06:13,159 Speaker 1: be to not receive a refund or to receive a 134 00:06:13,240 --> 00:06:15,359 Speaker 1: very very small refund. And so if that's not the 135 00:06:15,360 --> 00:06:17,839 Speaker 1: case for you, well you can run some calculations and 136 00:06:17,839 --> 00:06:20,000 Speaker 1: figure out what adjustments you need to make via the 137 00:06:20,040 --> 00:06:23,080 Speaker 1: I R S Tax withholding calculator. Estimator will link to 138 00:06:23,080 --> 00:06:24,880 Speaker 1: that in our show notes. But man, if we make 139 00:06:24,920 --> 00:06:27,760 Speaker 1: those adjustments, it allows us to keep more of our 140 00:06:27,760 --> 00:06:31,000 Speaker 1: earned income in our pockets every single month, as opposed 141 00:06:31,040 --> 00:06:32,919 Speaker 1: to getting this one big check and kind of figuring 142 00:06:32,960 --> 00:06:34,520 Speaker 1: out what to do with it. It can allow us 143 00:06:34,520 --> 00:06:36,839 Speaker 1: to save throughout the year, as opposed to getting this 144 00:06:37,080 --> 00:06:40,240 Speaker 1: windfall sum of money that's not necessarily ideal because often 145 00:06:40,240 --> 00:06:42,760 Speaker 1: when we get that windfall sum of money, the emotional 146 00:06:42,760 --> 00:06:45,400 Speaker 1: effect is like, cool, it's it's found money and I 147 00:06:45,400 --> 00:06:47,200 Speaker 1: can do whatever I want with it. But if it's 148 00:06:47,240 --> 00:06:49,839 Speaker 1: kind of money that trickles in every single month, I 149 00:06:49,839 --> 00:06:51,960 Speaker 1: feel like we're a little more judicious with it. Typically, 150 00:06:52,200 --> 00:06:55,680 Speaker 1: that's that hard earned money that you've earned yourself versus this, yeah, 151 00:06:55,760 --> 00:06:58,080 Speaker 1: freebe that you get from the government. It's not a freebee, 152 00:06:58,320 --> 00:06:59,800 Speaker 1: but it feels like it. Yeah, well, at least not 153 00:06:59,839 --> 00:07:02,120 Speaker 1: in the sense of your tax refund. Obviously, the stimulus 154 00:07:02,200 --> 00:07:04,520 Speaker 1: check is meant to feel more like that. We'll get 155 00:07:04,560 --> 00:07:06,359 Speaker 1: to that later in this episode. And Jel, you mentioned 156 00:07:06,360 --> 00:07:08,920 Speaker 1: adjusting your withholdings. You know, some of the reasons or 157 00:07:08,960 --> 00:07:10,680 Speaker 1: instances when you would want to make some of those 158 00:07:10,680 --> 00:07:13,440 Speaker 1: adjustments might be when you get married, maybe if you 159 00:07:13,440 --> 00:07:16,200 Speaker 1: have a kid, maybe you've picked up a second job, 160 00:07:16,280 --> 00:07:18,200 Speaker 1: like if you've got a side hustle that you're starting 161 00:07:18,200 --> 00:07:21,320 Speaker 1: to make and come from, or maybe if you've lost 162 00:07:21,560 --> 00:07:23,600 Speaker 1: your job and you've been unemployed for the year. I mean, 163 00:07:23,840 --> 00:07:25,520 Speaker 1: a lot of people are going to be in that boat. 164 00:07:25,560 --> 00:07:27,480 Speaker 1: And so you know, if you're listening to this and 165 00:07:27,520 --> 00:07:29,640 Speaker 1: you're collecting that unemployment check, there's a good chance that 166 00:07:29,720 --> 00:07:31,960 Speaker 1: it's not the same amount that you were making before, 167 00:07:32,480 --> 00:07:35,120 Speaker 1: and so making some adjustments to your withholding might make 168 00:07:35,160 --> 00:07:37,040 Speaker 1: sense in order for you to to not receive one 169 00:07:37,040 --> 00:07:40,280 Speaker 1: of these quote unquote massive bonuses next year around tax time. 170 00:07:40,720 --> 00:07:42,360 Speaker 1: But for most of our listeners, they probably are in 171 00:07:42,360 --> 00:07:44,200 Speaker 1: the position like most America, that they are getting the 172 00:07:44,200 --> 00:07:46,400 Speaker 1: small windfall from taxes, and even if they're not, even 173 00:07:46,440 --> 00:07:48,840 Speaker 1: if they're smart and have done their withholdings well, many 174 00:07:48,880 --> 00:07:51,400 Speaker 1: of them will be getting this this stimulus check depending 175 00:07:51,400 --> 00:07:53,680 Speaker 1: on how much money they make, because it phases out 176 00:07:53,720 --> 00:07:55,520 Speaker 1: the more money you make. But a lot of our 177 00:07:55,560 --> 00:07:58,120 Speaker 1: listeners will be getting that stimulus check, and so either way, 178 00:07:58,160 --> 00:08:00,840 Speaker 1: there's some sort of windfall coming to to most listeners. 179 00:08:00,960 --> 00:08:02,400 Speaker 1: So we do have to kind of talk about how 180 00:08:02,440 --> 00:08:04,360 Speaker 1: people handle that. Yeah, man, that's so true. That's the 181 00:08:04,400 --> 00:08:06,240 Speaker 1: reality that we're in right now. Some of us are 182 00:08:06,280 --> 00:08:08,720 Speaker 1: receiving tax refund checks and a lot of us, if 183 00:08:08,760 --> 00:08:10,800 Speaker 1: not most of us, are going to receive a stimulus 184 00:08:10,920 --> 00:08:13,400 Speaker 1: check as well. So we still need to discuss how 185 00:08:13,440 --> 00:08:16,360 Speaker 1: to approach this lump sum amounts of money showing up 186 00:08:16,360 --> 00:08:18,600 Speaker 1: and we're gonna get to our thoughts on that right 187 00:08:18,600 --> 00:08:29,600 Speaker 1: after the break. All right, we're back. We're talking about 188 00:08:29,600 --> 00:08:32,120 Speaker 1: stimulus checks and tax refunds and matt Before we get 189 00:08:32,160 --> 00:08:34,040 Speaker 1: into all the good things that the people can do 190 00:08:34,160 --> 00:08:37,040 Speaker 1: and should do with their stimulus money and their tax 191 00:08:37,080 --> 00:08:39,320 Speaker 1: refund what, in your opinion, is like the dumbest thing 192 00:08:39,320 --> 00:08:41,640 Speaker 1: they can do with it? Good question. The first thing 193 00:08:41,679 --> 00:08:43,320 Speaker 1: my mind goes to is like going to Vegas and 194 00:08:43,360 --> 00:08:47,560 Speaker 1: like putting them on like slots. However that supports the 195 00:08:47,559 --> 00:08:50,079 Speaker 1: local economy there. It actually doesn't sound like that dumb 196 00:08:50,120 --> 00:08:52,440 Speaker 1: of a thing. And lighting it on fire was the thing. 197 00:08:52,480 --> 00:08:55,240 Speaker 1: I lighting it on fire, you know, maybe you actually 198 00:08:55,320 --> 00:08:59,040 Speaker 1: ran out of TP at home. Would be a poor 199 00:08:59,240 --> 00:09:01,960 Speaker 1: use of all our bills. Burying it in the ground. 200 00:09:02,200 --> 00:09:03,880 Speaker 1: Over the course of history, that's always been like a 201 00:09:03,960 --> 00:09:05,880 Speaker 1: terrible thing to do. Someone's gonna find it. Take it. 202 00:09:06,120 --> 00:09:07,640 Speaker 1: Every want to bury in the field, You're gonna be 203 00:09:07,640 --> 00:09:09,400 Speaker 1: in their backyard. With the middle detector, you're gonna find, 204 00:09:09,400 --> 00:09:11,280 Speaker 1: You're gonna find their loose change, all that kind of stuff. 205 00:09:11,400 --> 00:09:13,080 Speaker 1: Although I have heard of folks doing that before. Like 206 00:09:13,120 --> 00:09:15,400 Speaker 1: if you've got a large parcel of land, maybe maybe 207 00:09:15,400 --> 00:09:18,200 Speaker 1: burying the uh the one else gold coins at different 208 00:09:18,200 --> 00:09:21,080 Speaker 1: spots around the property. That's real life for some people. Yeah. 209 00:09:21,240 --> 00:09:24,520 Speaker 1: Not the smartest move, though, So let's get into the 210 00:09:24,559 --> 00:09:27,360 Speaker 1: actual smart moves that people should make and and what 211 00:09:27,400 --> 00:09:29,559 Speaker 1: they should be doing with their stimulus money and their 212 00:09:29,600 --> 00:09:33,120 Speaker 1: tax refund. We would say the first thing to prioritize 213 00:09:33,400 --> 00:09:36,200 Speaker 1: is cash in an emergency fund. Even people who feel 214 00:09:36,240 --> 00:09:37,800 Speaker 1: like they might have the most stable job in the 215 00:09:37,840 --> 00:09:40,040 Speaker 1: world right now, well they could be just a Zoom 216 00:09:40,080 --> 00:09:42,880 Speaker 1: call away from being let go from their position. Yeah. 217 00:09:42,880 --> 00:09:45,680 Speaker 1: And if you didn't already have a serious dislike for 218 00:09:45,679 --> 00:09:47,400 Speaker 1: for Zoom by this point, like that would be the 219 00:09:47,440 --> 00:09:50,199 Speaker 1: final nail in the coffin. Right, Privacy issues I could 220 00:09:50,240 --> 00:09:51,720 Speaker 1: deal with, But I got fired over that service, so 221 00:09:51,760 --> 00:09:56,120 Speaker 1: I'm done with it. Yeah. And at least having two thousand, 222 00:09:56,120 --> 00:09:58,480 Speaker 1: four hundred and sixty seven dollars set aside, that's kind 223 00:09:58,480 --> 00:10:01,120 Speaker 1: of the amountain mat that uh you have hold in 224 00:10:01,160 --> 00:10:03,320 Speaker 1: on as the amount that people should aim for, at 225 00:10:03,360 --> 00:10:06,240 Speaker 1: least as a beginner emergency fund. Having that money set 226 00:10:06,240 --> 00:10:08,480 Speaker 1: aside to handle the bumps in the road that will 227 00:10:08,520 --> 00:10:11,800 Speaker 1: come to you financially inevitably is advisable. But a few 228 00:10:11,800 --> 00:10:14,720 Speaker 1: months of living expenses set aside is even better. And 229 00:10:14,720 --> 00:10:17,040 Speaker 1: since we are in an economic recession, we're in a downturn, 230 00:10:17,240 --> 00:10:20,240 Speaker 1: cash is even more valuable now than it otherwise would 231 00:10:20,240 --> 00:10:22,600 Speaker 1: be right. It can help you pay rent or your mortgage, 232 00:10:22,640 --> 00:10:24,800 Speaker 1: and can keep stress at pay. So in times like this, 233 00:10:25,080 --> 00:10:28,240 Speaker 1: cash is most definitely not trash. We would suggest that 234 00:10:28,480 --> 00:10:31,640 Speaker 1: having a padded emergency fund, having that money set aside 235 00:10:31,679 --> 00:10:33,480 Speaker 1: for expenses that you might not be able to cover 236 00:10:33,720 --> 00:10:35,880 Speaker 1: in the case of a job loss, that is definitely 237 00:10:35,920 --> 00:10:37,960 Speaker 1: one of the number one priorities right now. Well, I 238 00:10:38,000 --> 00:10:41,200 Speaker 1: like that cash is not trash. Should coin that some 239 00:10:41,200 --> 00:10:43,520 Speaker 1: people hay cash to trash, but because of like recurring 240 00:10:43,520 --> 00:10:45,560 Speaker 1: expenses that we always have that all of us have, 241 00:10:45,920 --> 00:10:48,240 Speaker 1: I just don't understand that mentality, Like I'm not in 242 00:10:48,280 --> 00:10:50,559 Speaker 1: love with cash. I mean, they're obviously we love investing 243 00:10:50,640 --> 00:10:53,480 Speaker 1: and buying rental properties and investing in the stock market, 244 00:10:53,520 --> 00:10:55,720 Speaker 1: but there's a need for cash to certainly. Man, Well, 245 00:10:55,720 --> 00:10:57,520 Speaker 1: it's all about context, right, Like I can see way 246 00:10:57,520 --> 00:10:59,280 Speaker 1: more folks being like I don't have that much money 247 00:10:59,280 --> 00:11:01,600 Speaker 1: in cash. I've got all these other options for me 248 00:11:01,640 --> 00:11:03,440 Speaker 1: to to tap, you know, if if I do have 249 00:11:03,480 --> 00:11:05,880 Speaker 1: an emergency where I can tap those funds. But you know, 250 00:11:06,000 --> 00:11:08,160 Speaker 1: given the current state that things are in right now, yeah, 251 00:11:08,200 --> 00:11:10,480 Speaker 1: cash is king, and I wanted to mention that two thousand, 252 00:11:10,520 --> 00:11:12,840 Speaker 1: four hundred and sixty seven dollars that's not a number 253 00:11:12,840 --> 00:11:14,720 Speaker 1: that we came up with. This is a number that 254 00:11:14,760 --> 00:11:17,679 Speaker 1: a bunch of researchers the line would have been two thousand. 255 00:11:18,360 --> 00:11:21,840 Speaker 1: So off you love that it seem like you're getting 256 00:11:21,840 --> 00:11:24,760 Speaker 1: a deal exact, but researchers have decided that that is 257 00:11:24,800 --> 00:11:27,240 Speaker 1: the dollar amount that a lot of people need to 258 00:11:27,240 --> 00:11:30,520 Speaker 1: have in order to whether some of these smaller hurdles. Obviously, 259 00:11:30,640 --> 00:11:34,240 Speaker 1: given the context, given the environments that were in currently, 260 00:11:34,600 --> 00:11:36,600 Speaker 1: I would venture to think that two four six seven, 261 00:11:36,640 --> 00:11:38,600 Speaker 1: how that may not even be enough, you know, Like 262 00:11:38,640 --> 00:11:40,439 Speaker 1: I know for us our family, like we're kind of 263 00:11:40,480 --> 00:11:42,760 Speaker 1: aiming for closer to six months in our emergency fund 264 00:11:42,840 --> 00:11:45,320 Speaker 1: right now, just to whether the uncertainty ahead of us, 265 00:11:45,320 --> 00:11:48,839 Speaker 1: like we don't exactly know what the economic landscape is 266 00:11:48,840 --> 00:11:50,160 Speaker 1: gonna look like, we don't know what our health is 267 00:11:50,160 --> 00:11:52,760 Speaker 1: gonna look like. I'm self employed, and so my income 268 00:11:52,920 --> 00:11:56,280 Speaker 1: isn't ever a guaranteed thing, and so I know, for us, 269 00:11:56,760 --> 00:11:59,480 Speaker 1: having more margin there definitely gives us a little more 270 00:11:59,480 --> 00:12:01,520 Speaker 1: piece of mind. And another reason too, you know that 271 00:12:01,679 --> 00:12:04,680 Speaker 1: is good to have maybe a fatter emergency fund sitting around, 272 00:12:04,679 --> 00:12:06,959 Speaker 1: is due to medical costs. A lot more folks are 273 00:12:07,160 --> 00:12:09,640 Speaker 1: getting sick. After all. This is, you know, first and 274 00:12:09,679 --> 00:12:12,160 Speaker 1: foremost a health crisis, So make sure that you have 275 00:12:12,240 --> 00:12:15,320 Speaker 1: some extra funds set aside to handle whatever your co 276 00:12:15,440 --> 00:12:18,040 Speaker 1: pay or your out of pocket maximums, you know, whatever 277 00:12:18,040 --> 00:12:19,560 Speaker 1: they might be, and not just for you, but for 278 00:12:19,600 --> 00:12:22,720 Speaker 1: everyone you're responsible for, for your entire family. Although that 279 00:12:22,760 --> 00:12:25,200 Speaker 1: being said, we wanted to mention that the good news 280 00:12:25,360 --> 00:12:27,400 Speaker 1: is that some of the major insurance companies out there, 281 00:12:27,400 --> 00:12:30,360 Speaker 1: like Etna, Signa and Humana, they all said that they 282 00:12:30,400 --> 00:12:32,920 Speaker 1: are going to be waving the consumer costs associated with 283 00:12:33,040 --> 00:12:36,040 Speaker 1: COVID nineteen treatment. So if you're with one of those providers, 284 00:12:36,080 --> 00:12:37,480 Speaker 1: you can at least have that to kind of fall 285 00:12:37,520 --> 00:12:39,920 Speaker 1: back on, yeah, emergency fund, making sure you have that 286 00:12:39,920 --> 00:12:42,400 Speaker 1: bare minimum, and then expanding on that to making sure 287 00:12:42,440 --> 00:12:45,840 Speaker 1: you have hopefully months worth of expenses on hand in 288 00:12:45,880 --> 00:12:47,920 Speaker 1: an online savings account that pays you a decent rate 289 00:12:47,920 --> 00:12:50,320 Speaker 1: of interest, And by decent rate of interest, it's really 290 00:12:50,320 --> 00:12:52,560 Speaker 1: not that much these days, you know, we've seen the 291 00:12:52,600 --> 00:12:56,040 Speaker 1: savings account rates plummeting as a FED has cut their rate, 292 00:12:56,400 --> 00:12:58,559 Speaker 1: and you know what, it's just tough time out there 293 00:12:58,600 --> 00:13:00,599 Speaker 1: for savers as well. How for the next thing we 294 00:13:00,600 --> 00:13:02,200 Speaker 1: would suggest that you do with the lump sum of 295 00:13:02,200 --> 00:13:04,720 Speaker 1: money is to make sure that at minimum you're getting 296 00:13:04,760 --> 00:13:07,679 Speaker 1: the company match inside of your retirement account. It feels 297 00:13:07,720 --> 00:13:10,240 Speaker 1: like a tough time and for investors, but in actuality 298 00:13:10,559 --> 00:13:13,160 Speaker 1: for all of our younger listeners, for anybody out there 299 00:13:13,160 --> 00:13:15,240 Speaker 1: in the wealth building phase of their life, this is 300 00:13:15,280 --> 00:13:17,400 Speaker 1: the best time for you to be investing and so 301 00:13:17,480 --> 00:13:21,000 Speaker 1: taking some of that money to ensure that you're at 302 00:13:21,080 --> 00:13:23,520 Speaker 1: least at minimum getting your company match in your four 303 00:13:23,559 --> 00:13:25,880 Speaker 1: oh one K Well, that's free money and you definitely 304 00:13:25,880 --> 00:13:27,880 Speaker 1: need to make sure you're taking advantage of that. There's 305 00:13:27,920 --> 00:13:30,000 Speaker 1: nowhere on earth that you're able to double your money 306 00:13:30,120 --> 00:13:33,280 Speaker 1: or with some companies get like that fift return, So 307 00:13:33,520 --> 00:13:35,400 Speaker 1: make sure you're taking advantage of it. Don't miss out. 308 00:13:35,640 --> 00:13:37,800 Speaker 1: By the way, we are hearing from more and more listeners, 309 00:13:37,840 --> 00:13:40,840 Speaker 1: and we're seeing that more and more companies are taking 310 00:13:40,840 --> 00:13:43,600 Speaker 1: away the matching benefit during this time. But don't fret 311 00:13:43,640 --> 00:13:45,800 Speaker 1: because as things get back to normal, those four one 312 00:13:45,880 --> 00:13:49,120 Speaker 1: came matching benefits will be reinstituted. They are a key 313 00:13:49,160 --> 00:13:52,600 Speaker 1: cornerstone of benefits the companies offer, and they're able to 314 00:13:52,640 --> 00:13:56,120 Speaker 1: retain top talent by offering matching retirement account benefits like this. 315 00:13:56,200 --> 00:13:58,280 Speaker 1: So yeah, just if you don't have it for the 316 00:13:58,360 --> 00:14:00,840 Speaker 1: time being, don't worry. In all lihood you're gonna have 317 00:14:00,840 --> 00:14:04,000 Speaker 1: it back in the near future. And if you still 318 00:14:04,080 --> 00:14:06,760 Speaker 1: do have matching, make sure you're not missing out on it. Joel, 319 00:14:06,760 --> 00:14:10,200 Speaker 1: I'm top talent. How come I've never had a company match? Uh? 320 00:14:10,520 --> 00:14:12,559 Speaker 1: Your your company is not very generous, dude. That is 321 00:14:12,600 --> 00:14:14,959 Speaker 1: because your company is you. Yeah, you, well, you and 322 00:14:15,040 --> 00:14:16,599 Speaker 1: me as well. We got the little podcast here, but 323 00:14:16,600 --> 00:14:19,320 Speaker 1: we don't make enough money to have fancy benefits like that. Well, 324 00:14:19,320 --> 00:14:21,040 Speaker 1: at least we get to drink here on the job, right, 325 00:14:21,160 --> 00:14:22,800 Speaker 1: That's true. That's a sweet little perk that you and 326 00:14:22,840 --> 00:14:25,920 Speaker 1: I have instituted. We don't have company matches yet on 327 00:14:25,920 --> 00:14:28,360 Speaker 1: our fur oh one case, through the podcast, no HR 328 00:14:28,400 --> 00:14:31,000 Speaker 1: person to tell us, no, you know, HR person to 329 00:14:31,040 --> 00:14:33,640 Speaker 1: tell us that, like, no, you shouldn't be drinking while podcast. 330 00:14:33,680 --> 00:14:36,480 Speaker 1: But you and I we responsibly enjoy a craft beer 331 00:14:36,480 --> 00:14:38,280 Speaker 1: and that's definitely a perk that we enjoy of what 332 00:14:38,320 --> 00:14:40,280 Speaker 1: we get to do here, man, But I couldn't agree more. 333 00:14:40,520 --> 00:14:42,840 Speaker 1: After an emergency fund, you know, making sure that you 334 00:14:42,880 --> 00:14:46,040 Speaker 1: are getting that four one K match, that is always 335 00:14:46,040 --> 00:14:48,400 Speaker 1: going to be your next order of business. But after that, 336 00:14:48,600 --> 00:14:51,280 Speaker 1: you want to look too, high interest debt, like to 337 00:14:51,320 --> 00:14:54,560 Speaker 1: pay off high interest loans or credit card debt. A 338 00:14:54,560 --> 00:14:56,560 Speaker 1: good rule of thumb is to look for interest rates 339 00:14:56,600 --> 00:14:59,120 Speaker 1: that are about maybe five percent higher than the current 340 00:14:59,240 --> 00:15:02,000 Speaker 1: ten year trail is rer rate. So what that means 341 00:15:02,200 --> 00:15:03,960 Speaker 1: for today is that you want to pay off any 342 00:15:04,040 --> 00:15:07,480 Speaker 1: debts that are about six percent or higher. And the 343 00:15:07,520 --> 00:15:09,760 Speaker 1: reason for that is the likelihood of you, you know, 344 00:15:09,760 --> 00:15:12,040 Speaker 1: being able to earn more than that currently in the market, 345 00:15:12,040 --> 00:15:15,200 Speaker 1: it's pretty slim. However, there is a caveat here. In 346 00:15:15,200 --> 00:15:18,480 Speaker 1: a normal economy with stable employment, ditching high interest rate 347 00:15:18,520 --> 00:15:20,000 Speaker 1: debt it is going to be one of the first 348 00:15:20,000 --> 00:15:22,120 Speaker 1: moves that you should make because it's near impossible to 349 00:15:22,240 --> 00:15:24,360 Speaker 1: invest your money and get an eighteen percent return right 350 00:15:24,640 --> 00:15:28,000 Speaker 1: unless you buy into those infomercials on TV or bitcoin 351 00:15:28,320 --> 00:15:30,920 Speaker 1: or tesla, you know that one time that people say 352 00:15:30,920 --> 00:15:33,560 Speaker 1: about bitcoin, and so you do get that sort of 353 00:15:33,560 --> 00:15:36,800 Speaker 1: return by paying down credit card debt. But right now, 354 00:15:36,840 --> 00:15:40,000 Speaker 1: it's a time of intense instability, and as we discussed earlier, 355 00:15:40,000 --> 00:15:42,880 Speaker 1: when we're talking about emergency funds, cash on hand becomes 356 00:15:42,960 --> 00:15:45,880 Speaker 1: even more meaningful and important than it normally would be 357 00:15:45,960 --> 00:15:49,120 Speaker 1: during these times. Yes, so paying down high interest rate debt, Matt, 358 00:15:49,120 --> 00:15:51,360 Speaker 1: We're all about it. But if it comes at the 359 00:15:51,360 --> 00:15:54,760 Speaker 1: expense of your emergency fund and you're not gonna have 360 00:15:54,880 --> 00:15:57,680 Speaker 1: enough cash on hand to at least have that minimum 361 00:15:57,960 --> 00:16:00,680 Speaker 1: of two thousand, four d sixty seven bucks on hand, 362 00:16:00,880 --> 00:16:03,000 Speaker 1: then we would say hold on to that money to 363 00:16:03,040 --> 00:16:04,840 Speaker 1: make sure you have a little bit of patting. And 364 00:16:04,880 --> 00:16:07,600 Speaker 1: the next place you want to prioritize putting that stimulus 365 00:16:07,600 --> 00:16:11,400 Speaker 1: money putting your tax refund is other retirement accounts. So 366 00:16:11,560 --> 00:16:14,400 Speaker 1: next look to hs A s roth iras your four 367 00:16:14,480 --> 00:16:17,120 Speaker 1: one K, putting it even more above and beyond that 368 00:16:17,240 --> 00:16:21,080 Speaker 1: matching contribution, and also taxable brokerage accounts. If your job 369 00:16:21,120 --> 00:16:23,960 Speaker 1: is solid, you've got solid savings, start investing more. Now 370 00:16:24,040 --> 00:16:26,000 Speaker 1: is a great time to be investing even more of 371 00:16:26,040 --> 00:16:29,239 Speaker 1: your money and take advantage of the tax breaks associated 372 00:16:29,400 --> 00:16:32,120 Speaker 1: with funding these accounts too. It's unfortunate right that our 373 00:16:32,160 --> 00:16:34,600 Speaker 1: economy is at such a low point, But if you 374 00:16:34,680 --> 00:16:37,720 Speaker 1: have been saving diligently for quite a while, and you 375 00:16:37,800 --> 00:16:40,440 Speaker 1: have this cash on hand and you you you've basically 376 00:16:40,520 --> 00:16:43,480 Speaker 1: been saving for rainy day, really really well, this gives 377 00:16:43,520 --> 00:16:46,320 Speaker 1: you a greater flexibility to be able to invest even 378 00:16:46,320 --> 00:16:48,720 Speaker 1: more for the long haul, even more for your future. 379 00:16:49,000 --> 00:16:51,120 Speaker 1: And you're doing so at a time too, while the 380 00:16:51,120 --> 00:16:53,280 Speaker 1: market is on sale, and that makes it an even 381 00:16:53,360 --> 00:16:55,680 Speaker 1: better move. So, yeah, the more you can invest, but 382 00:16:55,800 --> 00:16:59,120 Speaker 1: invest from a position of strength, then we would say 383 00:16:59,280 --> 00:17:01,200 Speaker 1: go for it. A few weeks ago, you know, I 384 00:17:01,240 --> 00:17:04,000 Speaker 1: discussed how we were both you know, looking to invest 385 00:17:04,040 --> 00:17:06,280 Speaker 1: a lot of money in our retirement accounts into our 386 00:17:06,359 --> 00:17:08,680 Speaker 1: roth iraise making sure are we could clarify them a 387 00:17:08,680 --> 00:17:10,960 Speaker 1: lot of money doesn't mean millions. We're talking about thousands, 388 00:17:11,400 --> 00:17:14,320 Speaker 1: hopefully talking about the maximum roth iireum out which six 389 00:17:14,320 --> 00:17:16,800 Speaker 1: thousand dollars. Right, But like that's something that Kate and 390 00:17:16,800 --> 00:17:19,480 Speaker 1: I did and like, honestly, man, like warm buff gonna 391 00:17:19,480 --> 00:17:23,320 Speaker 1: buy a company right now, that company is undervalued. I'm 392 00:17:23,320 --> 00:17:26,600 Speaker 1: going to purchase that entire company. Now we're talking about 393 00:17:26,600 --> 00:17:29,800 Speaker 1: stocks that are in index funds, started talking about hundreds 394 00:17:29,840 --> 00:17:32,320 Speaker 1: of different companies right, like we mentioned weeks ago, Like 395 00:17:32,359 --> 00:17:34,400 Speaker 1: this is something that Kate and I have done, and 396 00:17:34,480 --> 00:17:36,240 Speaker 1: I hope I don't regret it. I do think it 397 00:17:36,320 --> 00:17:39,679 Speaker 1: was a wise move, right given given the circumstances. But again, 398 00:17:39,720 --> 00:17:42,159 Speaker 1: we just don't know where the economy is going. We 399 00:17:42,200 --> 00:17:44,240 Speaker 1: don't know what our personal situation is going to look 400 00:17:44,240 --> 00:17:47,080 Speaker 1: like nobody does. And so that is why cash is 401 00:17:47,119 --> 00:17:50,000 Speaker 1: so important. That's why an emergency fund that's fully stocked, 402 00:17:50,040 --> 00:17:52,400 Speaker 1: you know, like we're talking, you know, maybe six months 403 00:17:52,480 --> 00:17:56,280 Speaker 1: or even more worth the living expenses covered. So we 404 00:17:56,320 --> 00:17:58,520 Speaker 1: know a lot of folks are looking to be opportunistic, 405 00:17:58,600 --> 00:18:00,639 Speaker 1: they're wanting to buy while the markets down. But at 406 00:18:00,680 --> 00:18:03,320 Speaker 1: the same time, make sure that you are on more 407 00:18:03,359 --> 00:18:05,240 Speaker 1: than solid footing. Let's make sure that you're gonna be 408 00:18:05,280 --> 00:18:07,639 Speaker 1: able to weather the storm and come out on the 409 00:18:07,640 --> 00:18:09,800 Speaker 1: other side unscathed. Well, Matt, if it turns out you 410 00:18:09,840 --> 00:18:11,320 Speaker 1: made a bad move, I've got some money buried in 411 00:18:11,320 --> 00:18:12,960 Speaker 1: the backyard that you can have access to. Just put 412 00:18:13,000 --> 00:18:14,840 Speaker 1: me out that metal detector and I can find that 413 00:18:15,160 --> 00:18:18,400 Speaker 1: that gold bullion exactly. I'll give you the treasure map 414 00:18:19,080 --> 00:18:20,800 Speaker 1: some hunting. I would love that. That sounds like fun. 415 00:18:21,440 --> 00:18:23,239 Speaker 1: So what we've talked about so far as far as 416 00:18:23,240 --> 00:18:24,680 Speaker 1: what to do with our money. Has been a very 417 00:18:24,720 --> 00:18:28,360 Speaker 1: mathematically correct, like logical approach. Right as as far as 418 00:18:28,400 --> 00:18:30,159 Speaker 1: what you should do, we're kind of talking through like 419 00:18:30,200 --> 00:18:32,040 Speaker 1: the flow chart almost of how you need to you know, 420 00:18:32,080 --> 00:18:33,840 Speaker 1: have an emergency fund, how to get that company match 421 00:18:33,880 --> 00:18:36,640 Speaker 1: paid on high interest debts, like all those sorts of things. However, 422 00:18:36,760 --> 00:18:39,480 Speaker 1: after the break, we're gonna talk about some more maybe 423 00:18:39,600 --> 00:18:42,800 Speaker 1: value driven ways to spend that money, ways to appropriate 424 00:18:42,880 --> 00:18:44,680 Speaker 1: that money, and we'll get to that, yeah, right after 425 00:18:44,720 --> 00:18:55,359 Speaker 1: the break. All right, Matt, we're back. We're talking about 426 00:18:55,440 --> 00:18:57,600 Speaker 1: what to do with your stimulus money, what to do 427 00:18:57,600 --> 00:18:59,720 Speaker 1: with your tax refund. And we did just cover a 428 00:18:59,760 --> 00:19:02,840 Speaker 1: lot of, you know, an important personal finance stuff, but 429 00:19:02,920 --> 00:19:06,840 Speaker 1: let's kind of take a moral philosophical angle on this too. 430 00:19:07,040 --> 00:19:09,160 Speaker 1: And that's something I think probably we include a little 431 00:19:09,160 --> 00:19:10,679 Speaker 1: bit here and there, but it's not the tact that 432 00:19:10,760 --> 00:19:12,960 Speaker 1: we take frequently, but I think it's important that we 433 00:19:13,000 --> 00:19:15,840 Speaker 1: do bring this up, especially on today's episode. And so 434 00:19:16,119 --> 00:19:18,679 Speaker 1: what about giving your money away? What about giving away 435 00:19:18,720 --> 00:19:22,160 Speaker 1: a portion of this stimulus money or your tax refund? 436 00:19:22,480 --> 00:19:25,000 Speaker 1: And so, Matt, we've talked about this before a long 437 00:19:25,040 --> 00:19:26,600 Speaker 1: time ago. I'm sure I don't know early on in 438 00:19:26,640 --> 00:19:29,120 Speaker 1: the podcast about how to give your money away, and 439 00:19:29,160 --> 00:19:32,000 Speaker 1: that's something that we feel strongly about that the more 440 00:19:32,040 --> 00:19:35,000 Speaker 1: money we give away that we donate, the more resources 441 00:19:35,000 --> 00:19:36,720 Speaker 1: that we bring in that we used to help other people. 442 00:19:36,920 --> 00:19:39,840 Speaker 1: It helps create a healthy detachment from our money, and 443 00:19:39,880 --> 00:19:41,960 Speaker 1: it also gives us a chance to see that the 444 00:19:42,000 --> 00:19:44,600 Speaker 1: money that we have can make an impact that's bigger 445 00:19:44,640 --> 00:19:47,119 Speaker 1: than ourselves. And a tiny little side benefit is that 446 00:19:47,160 --> 00:19:50,800 Speaker 1: giving money away to nonprofit organizations also gives us a 447 00:19:50,840 --> 00:19:53,320 Speaker 1: tax break. Two. But while the tax break is nice, 448 00:19:53,400 --> 00:19:55,440 Speaker 1: that's not why we do it. We truly believe that 449 00:19:55,480 --> 00:19:57,920 Speaker 1: if you've been fortunate and you've been given more than 450 00:19:57,960 --> 00:20:01,320 Speaker 1: you need, that it's important to give some of wealth away. Yeah, well, 451 00:20:01,480 --> 00:20:03,399 Speaker 1: just the very act of giving our money away, it's 452 00:20:03,440 --> 00:20:05,520 Speaker 1: just a good practice for us to develop. Right. Our 453 00:20:05,560 --> 00:20:08,360 Speaker 1: show it's called How the Money. It's all about money, 454 00:20:08,680 --> 00:20:11,200 Speaker 1: and while it is so important in our lives, personal 455 00:20:11,200 --> 00:20:13,399 Speaker 1: finance it's a big deal because they can have a 456 00:20:13,440 --> 00:20:15,320 Speaker 1: big impact on how you spend your life if you 457 00:20:15,440 --> 00:20:18,560 Speaker 1: understand the principles behind a personal finance right. However, that 458 00:20:18,600 --> 00:20:21,040 Speaker 1: doesn't mean seeking after lots of money or or having 459 00:20:21,040 --> 00:20:22,760 Speaker 1: that be kind of our you know, be all, end 460 00:20:22,800 --> 00:20:24,720 Speaker 1: all focus for that to be something that we're trying 461 00:20:24,760 --> 00:20:27,679 Speaker 1: to amass. That's not part of the philosophy of our show, right, Like, 462 00:20:27,720 --> 00:20:30,240 Speaker 1: that's not how you and I approach money personally. And 463 00:20:30,359 --> 00:20:32,560 Speaker 1: the reason we talk about giving our money away is 464 00:20:32,600 --> 00:20:35,400 Speaker 1: because we do feel that it is an important aspect 465 00:20:35,680 --> 00:20:38,800 Speaker 1: of personal finance. Right. Personal finance isn't just about making 466 00:20:38,800 --> 00:20:40,360 Speaker 1: sure that you get the best deal, making sure you're 467 00:20:40,400 --> 00:20:42,800 Speaker 1: earning as much as possible at work, making sure that 468 00:20:42,840 --> 00:20:44,480 Speaker 1: you know how to invest it, but also has to 469 00:20:44,520 --> 00:20:46,320 Speaker 1: do with making sure that we're being thoughtful and generous 470 00:20:46,359 --> 00:20:48,320 Speaker 1: when when it comes to others, especially, you know, to 471 00:20:48,320 --> 00:20:50,119 Speaker 1: others in need. Yeah, we don't want to have that 472 00:20:50,160 --> 00:20:52,760 Speaker 1: Scrooge McDuck mentality, right, and be like swimming in our 473 00:20:52,800 --> 00:20:55,240 Speaker 1: money when other people around us are in need and 474 00:20:55,280 --> 00:20:57,600 Speaker 1: we could use that money really well. And so yeah, 475 00:20:57,600 --> 00:20:59,919 Speaker 1: on that note, Matt, the question has been asking our 476 00:21:00,040 --> 00:21:02,399 Speaker 1: holes have been written about what to do with your 477 00:21:02,400 --> 00:21:05,120 Speaker 1: stimulus money and whether there's a moral obligation on our 478 00:21:05,160 --> 00:21:06,960 Speaker 1: part to use it well and to give it some 479 00:21:07,000 --> 00:21:09,439 Speaker 1: of it away. So do people who don't need this 480 00:21:09,520 --> 00:21:12,640 Speaker 1: individual stimulus check have any sort of obligation to give 481 00:21:12,640 --> 00:21:15,080 Speaker 1: some of this money away. I appreciate the heart in 482 00:21:15,119 --> 00:21:18,080 Speaker 1: that question, and so when I first heard about these 483 00:21:18,160 --> 00:21:20,600 Speaker 1: checks being sent out to all Americans, I kind of 484 00:21:20,600 --> 00:21:23,800 Speaker 1: had this similar thought that, well, why am I getting 485 00:21:23,800 --> 00:21:27,040 Speaker 1: a check for my family when we don't really need it. 486 00:21:27,040 --> 00:21:29,600 Speaker 1: It feels a little weird. I hated knowing that a 487 00:21:29,640 --> 00:21:32,560 Speaker 1: family like ours, who still gainfully employed at the same time, 488 00:21:32,720 --> 00:21:35,480 Speaker 1: would be getting money when potentially a third of Americans 489 00:21:35,560 --> 00:21:37,880 Speaker 1: might be out of work. Right, So I would say 490 00:21:37,920 --> 00:21:39,800 Speaker 1: that if you want to give a portion or even 491 00:21:39,880 --> 00:21:43,840 Speaker 1: all of your stimulus check away to a nonprofit, then 492 00:21:43,880 --> 00:21:46,200 Speaker 1: do it. If you're unsolid financial footing and you can 493 00:21:46,240 --> 00:21:49,560 Speaker 1: afford to give all that money away, I think that's admirable. 494 00:21:49,840 --> 00:21:52,000 Speaker 1: And at the same time, many nonprofits are feeling the 495 00:21:52,000 --> 00:21:55,400 Speaker 1: pain in this downturn too. They're also acutely hit by 496 00:21:55,560 --> 00:21:58,840 Speaker 1: the economy going into a tailspan. So, but the one 497 00:21:58,880 --> 00:22:00,760 Speaker 1: thing I would caution is to not do it out 498 00:22:00,760 --> 00:22:03,600 Speaker 1: of guilt. I think sometimes that can be a purely 499 00:22:03,600 --> 00:22:05,919 Speaker 1: reactionary thing, and we might decide that we want to 500 00:22:05,920 --> 00:22:07,840 Speaker 1: give it away because we feel guilty. But I don't 501 00:22:07,840 --> 00:22:10,240 Speaker 1: think we should feel guilty about this stimulus money. And 502 00:22:10,240 --> 00:22:12,240 Speaker 1: I don't think we should feel guilty about a tax 503 00:22:12,280 --> 00:22:14,320 Speaker 1: refund and give out of guilt. But I think if 504 00:22:14,320 --> 00:22:17,120 Speaker 1: we give from a good place, a good heart, then 505 00:22:17,160 --> 00:22:19,440 Speaker 1: we of course would encourage giving. Yeah, And our goal 506 00:22:19,480 --> 00:22:22,240 Speaker 1: also isn't too guilt trip anybody for not feeling guilt 507 00:22:22,520 --> 00:22:26,040 Speaker 1: for receiving their stimuluship. Right, some people like I haven't 508 00:22:26,040 --> 00:22:27,760 Speaker 1: even thought about it, like that don't even crossed my mind. 509 00:22:28,000 --> 00:22:30,399 Speaker 1: I was just like, who, well, I mean, here's the 510 00:22:30,400 --> 00:22:33,000 Speaker 1: thing is that hopefully nobody feels any guilt right or 511 00:22:33,119 --> 00:22:36,159 Speaker 1: sense of shame for receiving their stimulus check. And of 512 00:22:36,200 --> 00:22:38,560 Speaker 1: course there shouldn't be any emotions at all aside to 513 00:22:38,560 --> 00:22:41,040 Speaker 1: you receiving like your tax refund check. And so maybe 514 00:22:41,040 --> 00:22:43,960 Speaker 1: a healthy way to think of your stimulus check specifically 515 00:22:44,000 --> 00:22:46,639 Speaker 1: is this right? Think about it as if essentially the 516 00:22:46,640 --> 00:22:49,080 Speaker 1: government is saying that they think that you know how 517 00:22:49,160 --> 00:22:51,480 Speaker 1: to best use and spend that money in your corner 518 00:22:51,480 --> 00:22:53,800 Speaker 1: of the universe. Maybe in your specific neighborhood you can 519 00:22:53,800 --> 00:22:56,400 Speaker 1: see who needs help better than the federal government can. 520 00:22:56,480 --> 00:22:59,159 Speaker 1: Like this makes sense there in Washington. You are on 521 00:22:59,240 --> 00:23:01,720 Speaker 1: the ground, live on your street, you know, in your neighborhood. 522 00:23:01,720 --> 00:23:03,600 Speaker 1: Now you see the businesses, the families that are hurting 523 00:23:04,119 --> 00:23:06,120 Speaker 1: right by you exactly. So if you see a need, 524 00:23:06,240 --> 00:23:09,639 Speaker 1: if you know of someone or someplace in particular restaurants, 525 00:23:09,880 --> 00:23:12,960 Speaker 1: you know that need help, then that should direct where 526 00:23:12,960 --> 00:23:14,840 Speaker 1: your money goes. If if you're unsure of what to 527 00:23:14,840 --> 00:23:17,080 Speaker 1: do with that money, just look around look for the need, 528 00:23:17,119 --> 00:23:19,520 Speaker 1: because that will allow you to be efficient and to 529 00:23:19,600 --> 00:23:23,240 Speaker 1: put that money towards you know, businesses and individuals effectively, 530 00:23:23,520 --> 00:23:25,560 Speaker 1: while also you know, you know that you'll have a 531 00:23:25,680 --> 00:23:29,199 Speaker 1: sort of an altruistic heart behind that giving or spending. Yeah, man, 532 00:23:29,240 --> 00:23:30,920 Speaker 1: I think it is important to note what the intention 533 00:23:31,000 --> 00:23:34,479 Speaker 1: behind these stimulus payments are. The government has set up 534 00:23:34,480 --> 00:23:37,000 Speaker 1: a lot of aid for small businesses, The government has 535 00:23:37,000 --> 00:23:39,880 Speaker 1: set up a lot of aid for people who are unemployed. 536 00:23:40,359 --> 00:23:43,560 Speaker 1: The Cares Act has also provided relief for people and 537 00:23:43,560 --> 00:23:45,680 Speaker 1: their student loans and said you don't have to pay 538 00:23:45,760 --> 00:23:48,680 Speaker 1: for six months. So there is a lot of specifically 539 00:23:48,760 --> 00:23:51,360 Speaker 1: targeted money going out towards the people in the greatest need. 540 00:23:51,400 --> 00:23:55,520 Speaker 1: But these stimulus payments were specifically created in order for 541 00:23:55,640 --> 00:23:58,919 Speaker 1: individual Americans to feel like they had the ability, the 542 00:23:59,000 --> 00:24:02,080 Speaker 1: extra ability to spend more in this time. That's because 543 00:24:03,119 --> 00:24:06,119 Speaker 1: of the American economy is driven by consumer spending, and 544 00:24:06,119 --> 00:24:08,200 Speaker 1: so the fact that it feels like free money from 545 00:24:08,280 --> 00:24:11,639 Speaker 1: the government that actually incentivizes our behavior. They want us 546 00:24:11,680 --> 00:24:13,600 Speaker 1: to think of it like free money, and they want 547 00:24:13,680 --> 00:24:16,439 Speaker 1: us to go and spend it. So buying goods and 548 00:24:16,480 --> 00:24:20,160 Speaker 1: services from your favorite nearby business is a good use 549 00:24:20,200 --> 00:24:22,600 Speaker 1: of this money. And so I would say, because of 550 00:24:22,640 --> 00:24:26,000 Speaker 1: that intention, because of the thought process behind sending this 551 00:24:26,160 --> 00:24:29,359 Speaker 1: money to you know, most Americans, that you shouldn't feel 552 00:24:29,440 --> 00:24:31,840 Speaker 1: undeserving of the funds from this bill, and if you 553 00:24:31,880 --> 00:24:35,400 Speaker 1: don't necessarily need it, giving it away, supporting local businesses, 554 00:24:35,440 --> 00:24:38,040 Speaker 1: those are great places to put it. But also because 555 00:24:38,040 --> 00:24:40,600 Speaker 1: of that intention, you shouldn't feel guilt and shame. Yeah, 556 00:24:40,640 --> 00:24:44,000 Speaker 1: And you know, on a practical note, under normal economic conditions, 557 00:24:44,000 --> 00:24:47,320 Speaker 1: we've discussed our dislike for gift cards, but given the 558 00:24:47,320 --> 00:24:49,600 Speaker 1: crisis that we're in, they have actually become a fantastic 559 00:24:49,640 --> 00:24:52,920 Speaker 1: way for us to support our local businesses. We currently 560 00:24:53,080 --> 00:24:55,439 Speaker 1: have more gift cards than we have ever had in 561 00:24:55,480 --> 00:24:57,960 Speaker 1: our entire life, except for maybe when Kate and I 562 00:24:57,960 --> 00:25:00,720 Speaker 1: got married, Remember like when you get married, Yeah, gets, 563 00:25:00,760 --> 00:25:02,560 Speaker 1: I don't know, gift certificates, gift cards they kind of 564 00:25:02,560 --> 00:25:04,440 Speaker 1: like show up you have like a bulging zip like 565 00:25:04,560 --> 00:25:06,520 Speaker 1: bag of gift cards at that point in time exactly. 566 00:25:06,560 --> 00:25:08,360 Speaker 1: But but since then, this is an all time high 567 00:25:08,400 --> 00:25:10,840 Speaker 1: for us. But also that's not the only way that 568 00:25:10,880 --> 00:25:13,760 Speaker 1: you can directly help local businesses. Go fund me. They 569 00:25:13,760 --> 00:25:15,840 Speaker 1: have a page where you can go and you can 570 00:25:15,880 --> 00:25:18,720 Speaker 1: search for local businesses to support, and you can just 571 00:25:18,760 --> 00:25:20,760 Speaker 1: do that by entering your zip code will link to 572 00:25:20,800 --> 00:25:22,880 Speaker 1: that page in our show notes, Man, I love this 573 00:25:22,920 --> 00:25:25,240 Speaker 1: direct approach and it's a great way for you to 574 00:25:25,280 --> 00:25:28,119 Speaker 1: help businesses while keeping it local as well. You know. 575 00:25:28,160 --> 00:25:29,880 Speaker 1: Plus it keeps me from from getting too much weight 576 00:25:29,880 --> 00:25:32,399 Speaker 1: because how much takeout is gonna be too much takeout? 577 00:25:32,920 --> 00:25:36,520 Speaker 1: Like I sort of feel this this pressure as a 578 00:25:36,560 --> 00:25:39,240 Speaker 1: citizen of my local community to support all of all 579 00:25:39,320 --> 00:25:42,240 Speaker 1: my favorite establishments. But we don't normally eat out nearly 580 00:25:42,240 --> 00:25:44,119 Speaker 1: this much, and so you know, being able to delay 581 00:25:44,160 --> 00:25:46,040 Speaker 1: some of that through gift cards or being able just 582 00:25:46,080 --> 00:25:47,879 Speaker 1: to send some of that money directly to some of 583 00:25:47,880 --> 00:25:50,040 Speaker 1: these restaurants in particular, Man, has been a great way. 584 00:25:50,080 --> 00:25:52,199 Speaker 1: Actually hopped on there. I saw one of our favorite 585 00:25:52,200 --> 00:25:54,720 Speaker 1: local places, the Earl. They're at the top of the 586 00:25:54,760 --> 00:25:57,280 Speaker 1: list right there, and a lot of folks are chipping in, uh, 587 00:25:57,280 --> 00:25:59,440 Speaker 1: and they're really close to meeting their goal. It's really 588 00:25:59,440 --> 00:26:01,439 Speaker 1: happy to see that. It's one of our local favorite 589 00:26:01,440 --> 00:26:03,440 Speaker 1: spots to go see an awesome show. Right. It's a 590 00:26:03,440 --> 00:26:06,280 Speaker 1: little gruny, maybe a touch CD, but they've also got 591 00:26:06,280 --> 00:26:10,440 Speaker 1: a really good burger, especially ceed when you're there. Yeah, 592 00:26:10,560 --> 00:26:13,399 Speaker 1: let alone if you and I both show up. So 593 00:26:13,400 --> 00:26:15,440 Speaker 1: many shows are through the years. It's such a good place. 594 00:26:15,480 --> 00:26:18,840 Speaker 1: So yeah, those establishments that have a special tie to 595 00:26:18,920 --> 00:26:21,440 Speaker 1: your heart, that you have a special relationship with, those 596 00:26:21,480 --> 00:26:24,560 Speaker 1: are the places we should be specifically targeting and supporting 597 00:26:24,560 --> 00:26:26,440 Speaker 1: in this time. That's right, man. It's not just about 598 00:26:26,760 --> 00:26:28,800 Speaker 1: investing and being smart with our money, but we also 599 00:26:28,840 --> 00:26:30,359 Speaker 1: want to make sure that we're kind of spending it 600 00:26:30,400 --> 00:26:33,240 Speaker 1: and putting it towards things that matter to us. Yes, 601 00:26:33,320 --> 00:26:34,920 Speaker 1: so really the last thing to say. We talked about 602 00:26:34,920 --> 00:26:37,240 Speaker 1: giving it away. We talked about the moral dilemma, and 603 00:26:37,280 --> 00:26:39,800 Speaker 1: I think typically what we would say to someone who 604 00:26:39,840 --> 00:26:42,320 Speaker 1: does come into some sort of windfall money Matt right, 605 00:26:42,800 --> 00:26:45,600 Speaker 1: is whether it's a tax refund or the stimulus check 606 00:26:45,960 --> 00:26:48,560 Speaker 1: in normal times, we would say, take ten percent of 607 00:26:48,600 --> 00:26:50,840 Speaker 1: it and blow it, like, have fun with at least 608 00:26:50,840 --> 00:26:54,320 Speaker 1: a portion of it, because in part prioritizing today over 609 00:26:54,359 --> 00:26:57,280 Speaker 1: your future isn't bad, right, That's a huge part of 610 00:26:57,320 --> 00:26:59,200 Speaker 1: the ethos behind the show. That's right. We want to 611 00:26:59,320 --> 00:27:02,040 Speaker 1: enjoy the moment. We want to enjoy what we have. 612 00:27:02,359 --> 00:27:03,960 Speaker 1: We want to enjoy the craft beer in front of 613 00:27:04,000 --> 00:27:05,960 Speaker 1: us while we're saving well for the future. And I 614 00:27:06,000 --> 00:27:08,919 Speaker 1: feel like for our listeners in particular, who are in 615 00:27:09,040 --> 00:27:12,280 Speaker 1: a really good financial spot, who have their savings ducks 616 00:27:12,280 --> 00:27:14,879 Speaker 1: in a row, who are able to continue to invest 617 00:27:14,960 --> 00:27:17,679 Speaker 1: during this downturn and it's actually going to make them 618 00:27:17,720 --> 00:27:19,960 Speaker 1: wealthier over the long term. Well, it almost feels like 619 00:27:20,000 --> 00:27:22,760 Speaker 1: a bit of a civic duty right now, right that 620 00:27:23,080 --> 00:27:26,880 Speaker 1: we should be spending and supporting the businesses we love 621 00:27:26,920 --> 00:27:29,080 Speaker 1: the most. I don't think we can feel comfortable across 622 00:27:29,080 --> 00:27:30,840 Speaker 1: the board telling everyone to go out and spend all 623 00:27:30,880 --> 00:27:33,479 Speaker 1: that stimulus money. But for yeah, some of our listeners, 624 00:27:33,640 --> 00:27:35,240 Speaker 1: that is going to be the best way that they 625 00:27:35,280 --> 00:27:38,160 Speaker 1: can use it by spending and giving it away. And again, 626 00:27:38,160 --> 00:27:40,679 Speaker 1: you're not talking about spending that entire amount, like you know, 627 00:27:40,800 --> 00:27:42,479 Speaker 1: you just said ten percent. I think if we can 628 00:27:42,480 --> 00:27:46,120 Speaker 1: spend a small portion of this windfall towards something that 629 00:27:46,200 --> 00:27:49,080 Speaker 1: we feel like is more of a splurge. Um, then 630 00:27:49,119 --> 00:27:50,919 Speaker 1: that's a that's a healthy thing to do with your money. 631 00:27:51,280 --> 00:27:52,919 Speaker 1: And it's it's a double win, right, It's a win 632 00:27:52,920 --> 00:27:55,399 Speaker 1: win situation if you can splurge and spend that money 633 00:27:55,600 --> 00:27:57,639 Speaker 1: on a company that you want to support. I know, 634 00:27:57,760 --> 00:28:00,240 Speaker 1: for me personally, I've been eye in this bice cold 635 00:28:00,280 --> 00:28:03,600 Speaker 1: made by this American company called Salsa Bicycles. Have you 636 00:28:03,680 --> 00:28:05,360 Speaker 1: ever heard of them before? No, But it doesn't sound 637 00:28:05,359 --> 00:28:07,800 Speaker 1: like an American company. It sounds like a South America company. 638 00:28:08,040 --> 00:28:10,320 Speaker 1: It's like the South of the Border bike. No. That 639 00:28:10,440 --> 00:28:12,880 Speaker 1: makes some some really amazing bikes. Uh. And I've kind 640 00:28:12,880 --> 00:28:14,600 Speaker 1: of been I you know, I've I've been talking about 641 00:28:14,600 --> 00:28:16,000 Speaker 1: this for a year. I'm sure our listeners are like, 642 00:28:16,040 --> 00:28:19,480 Speaker 1: just buy the stupid bike, du But I tend to 643 00:28:19,520 --> 00:28:22,280 Speaker 1: over research and take my time with these kind of purchases. 644 00:28:22,440 --> 00:28:24,320 Speaker 1: But I'm hoping to kind of siphon a portion of 645 00:28:24,320 --> 00:28:26,520 Speaker 1: that money towards a bike that I ride by myself. 646 00:28:26,720 --> 00:28:28,400 Speaker 1: You know, We've got the cargo bike where the kids 647 00:28:28,400 --> 00:28:29,639 Speaker 1: can ride on it, but I don't really have a 648 00:28:29,640 --> 00:28:32,840 Speaker 1: solid multi speed bike that I can ride around town 649 00:28:32,960 --> 00:28:35,119 Speaker 1: kind of go places on my own without you know 650 00:28:35,200 --> 00:28:38,880 Speaker 1: this giant cargo area behind me at the seventy pound 651 00:28:38,880 --> 00:28:40,600 Speaker 1: bike that you're hauling is so heavy, and I don't 652 00:28:40,640 --> 00:28:44,040 Speaker 1: have like the easist either, so it's all it's all muscle. Um. 653 00:28:44,280 --> 00:28:46,040 Speaker 1: I enjoy right in that bike around with the girls, 654 00:28:46,040 --> 00:28:47,760 Speaker 1: but sometimes I just want to go out there by myself. 655 00:28:47,800 --> 00:28:50,320 Speaker 1: So I'll keep you posted if I actually pull the trigger. 656 00:28:50,960 --> 00:28:52,600 Speaker 1: I'll check out their bikes too. I've never heard of them. 657 00:28:52,600 --> 00:28:55,160 Speaker 1: But enough about me, man, let's talk about Joel. Have 658 00:28:55,280 --> 00:28:57,160 Speaker 1: you thought any about what you might put some of 659 00:28:57,200 --> 00:28:59,560 Speaker 1: your stimulus check towards. I like eating out more than 660 00:28:59,600 --> 00:29:01,560 Speaker 1: you do, so definitely more of my money is going 661 00:29:01,600 --> 00:29:04,000 Speaker 1: to go towards that, continuing to support the restaurants we 662 00:29:04,040 --> 00:29:06,800 Speaker 1: love and care about the breweries too. So yeah, I 663 00:29:06,880 --> 00:29:09,920 Speaker 1: haven't thought of any bigger ticket items yet, but we'll see. 664 00:29:09,920 --> 00:29:11,720 Speaker 1: I don't know. I'll talk it over with with Emily. 665 00:29:11,760 --> 00:29:13,880 Speaker 1: Maybe will come up something. Oh well, I haven't talked 666 00:29:13,880 --> 00:29:17,160 Speaker 1: about the bike with Kate, so she's like, wait to 667 00:29:17,840 --> 00:29:21,160 Speaker 1: present alright, as a family. How about that? All right? 668 00:29:21,200 --> 00:29:23,640 Speaker 1: That works too? That works too, all right, Matt. Well, yeah, 669 00:29:23,640 --> 00:29:25,440 Speaker 1: speaking of breweries, we're drinking a beer from one of 670 00:29:25,480 --> 00:29:27,880 Speaker 1: our favorite local breweries Today on the show. The beer 671 00:29:27,920 --> 00:29:29,640 Speaker 1: that we had was Space Lettuce. It's a double. I 672 00:29:29,720 --> 00:29:31,880 Speaker 1: p A from our buds at Monday Night. What was 673 00:29:31,920 --> 00:29:33,920 Speaker 1: your take on this beer? Man? Man? This is such 674 00:29:33,960 --> 00:29:37,480 Speaker 1: a good, like classic I p a. Uh, Space Lettuce 675 00:29:37,560 --> 00:29:39,560 Speaker 1: is quickly becoming one of my favorite go toos now 676 00:29:39,600 --> 00:29:41,200 Speaker 1: that Monday Night is caning this beer. I don't I 677 00:29:41,200 --> 00:29:43,320 Speaker 1: don't think they're doing it year round, but they're doing 678 00:29:43,360 --> 00:29:46,960 Speaker 1: it fairly regularly. I'll say that, and I'll say, there's 679 00:29:46,960 --> 00:29:48,680 Speaker 1: so much in a name. So this beer is called 680 00:29:48,680 --> 00:29:52,000 Speaker 1: space Lettuce, and I feel like like the lettuce makes 681 00:29:52,000 --> 00:29:54,320 Speaker 1: me think of cabbage, which then makes me think of 682 00:29:54,360 --> 00:29:56,959 Speaker 1: like stinky hops, you know what I'm saying. And so like, 683 00:29:57,080 --> 00:29:58,880 Speaker 1: as I drink this beer, it kind of makes me 684 00:29:58,920 --> 00:30:00,840 Speaker 1: think that this beer is good. Me like, like like I'm 685 00:30:00,880 --> 00:30:03,880 Speaker 1: eating my veggies. You know what I'm gonna go with that? 686 00:30:04,000 --> 00:30:06,880 Speaker 1: You like that? Yeah, that's at least one serving of vegetables. Absolutely, 687 00:30:06,920 --> 00:30:08,880 Speaker 1: And so I feel like this is a really well 688 00:30:09,080 --> 00:30:11,800 Speaker 1: balanced beer. This is a double. So this isn't one 689 00:30:11,840 --> 00:30:14,480 Speaker 1: that you can or maybe should drink every day, but 690 00:30:14,520 --> 00:30:16,120 Speaker 1: at least once a week, I feel a nice craft beer. 691 00:30:16,160 --> 00:30:17,600 Speaker 1: It's all right to kind of dip your toes into 692 00:30:17,640 --> 00:30:19,479 Speaker 1: the double I P A water and get something that's 693 00:30:19,520 --> 00:30:21,640 Speaker 1: a little bit bigger. I really like this beer. Um, 694 00:30:21,680 --> 00:30:23,040 Speaker 1: this is when I know that you and I both 695 00:30:23,080 --> 00:30:25,160 Speaker 1: we have we've got a bunch of these in our fridge. Yeah, 696 00:30:25,160 --> 00:30:28,440 Speaker 1: because it's such a good go to solid It's so good, dude. Yeah. 697 00:30:28,440 --> 00:30:30,120 Speaker 1: So I think this is in my mind, kind of 698 00:30:30,120 --> 00:30:32,680 Speaker 1: in between the old school style of I P A 699 00:30:32,760 --> 00:30:34,600 Speaker 1: and the new school style nice. It's a mix of 700 00:30:34,680 --> 00:30:38,640 Speaker 1: juicy and sticky. It's got this clear, pale orange color. Man. 701 00:30:39,200 --> 00:30:42,720 Speaker 1: I think it's got these intergalactic flavors that then I'm 702 00:30:42,720 --> 00:30:45,239 Speaker 1: a huge fan of. So yeah, space Lettuce for Monday Night. 703 00:30:45,240 --> 00:30:47,080 Speaker 1: If you see it on shelves at your grocery store 704 00:30:47,200 --> 00:30:49,520 Speaker 1: or package store, you should totally pick it up. Yeah, 705 00:30:49,600 --> 00:30:52,360 Speaker 1: and we've done a beer giveaway with them before. Look 706 00:30:52,400 --> 00:30:54,040 Speaker 1: for one of those coming up here in the future. 707 00:30:54,080 --> 00:30:55,760 Speaker 1: We'll we'll have to swing by there, grab a bunch 708 00:30:55,760 --> 00:30:57,520 Speaker 1: of their cans and yeah, we'll do another one of 709 00:30:57,520 --> 00:30:59,760 Speaker 1: those giveaways to to one lucky listener out there. What's 710 00:30:59,800 --> 00:31:02,719 Speaker 1: better and free beer? Very little? Yeah, I can't pick 711 00:31:02,760 --> 00:31:04,440 Speaker 1: of anything around off the top of my head. But 712 00:31:04,440 --> 00:31:06,480 Speaker 1: all right, Matt, that's gonna do it for this episode. 713 00:31:06,920 --> 00:31:08,680 Speaker 1: And for folks who want to read the show notes 714 00:31:08,680 --> 00:31:10,400 Speaker 1: that we have, well those are up at how to 715 00:31:10,520 --> 00:31:13,000 Speaker 1: money dot com. And if you are listening to this 716 00:31:13,040 --> 00:31:15,440 Speaker 1: episode and you know somebody who might need a little 717 00:31:15,480 --> 00:31:18,000 Speaker 1: help with their their personal finances, maybe they need some 718 00:31:18,080 --> 00:31:21,240 Speaker 1: direction as to what they should be doing with their 719 00:31:21,360 --> 00:31:24,360 Speaker 1: stimulus check or their tax refund in addition to the 720 00:31:24,400 --> 00:31:26,760 Speaker 1: rest of their personal finances, send them our way. We 721 00:31:26,800 --> 00:31:29,400 Speaker 1: would be honored if you you told a friend, told 722 00:31:29,440 --> 00:31:32,320 Speaker 1: someone you know about our podcast how to Money. Sometimes 723 00:31:32,400 --> 00:31:33,640 Speaker 1: it can be kind of awkward and it can be 724 00:31:33,680 --> 00:31:36,520 Speaker 1: weird to talk to somebody else about their money. Uh 725 00:31:36,680 --> 00:31:39,840 Speaker 1: that's where a third party like us can can play 726 00:31:39,880 --> 00:31:42,160 Speaker 1: a role. You know, this this podcast can be something 727 00:31:42,200 --> 00:31:44,080 Speaker 1: that you both talk about and you don't have to 728 00:31:44,120 --> 00:31:46,120 Speaker 1: get all up in their business. If your friends Sally 729 00:31:46,200 --> 00:31:47,600 Speaker 1: or Jim is terrible with money, you don't have to 730 00:31:47,600 --> 00:31:49,800 Speaker 1: tell them that they're terrible. You can just be like, oh, 731 00:31:49,880 --> 00:31:51,800 Speaker 1: just listen to this podcast with Matt and Joelan. You know, 732 00:31:51,920 --> 00:31:53,680 Speaker 1: I think I can help. But if it's harder to 733 00:31:53,680 --> 00:31:56,280 Speaker 1: have that one on one combo, yeah, absolutely, man, all right, 734 00:31:56,480 --> 00:31:59,040 Speaker 1: that's gonna be it for this episode until next time. Buddy, 735 00:31:59,120 --> 00:32:14,560 Speaker 1: best Friends Out, best Friends Out m