1 00:00:00,120 --> 00:00:02,840 Speaker 1: Welcome to How the Money. I'm Joel and I and Matt. 2 00:00:03,080 --> 00:00:07,320 Speaker 1: Today we're discussing second hand gifts VT sacks and we're 3 00:00:07,320 --> 00:00:28,360 Speaker 1: giving away a thousand dollars. Wait, we're giving away a 4 00:00:28,360 --> 00:00:31,280 Speaker 1: thousand dollars or you're giving away a thousand. This is 5 00:00:31,280 --> 00:00:33,599 Speaker 1: a joint, joint effort. This is both Matt and Joel 6 00:00:33,640 --> 00:00:36,080 Speaker 1: combined a lot of money. Uh, team we are giving 7 00:00:36,080 --> 00:00:37,919 Speaker 1: away and the team is just the two of us. 8 00:00:38,000 --> 00:00:41,280 Speaker 1: Fun technically we're giving away five each. We're gonna be 9 00:00:41,320 --> 00:00:43,199 Speaker 1: honest with it. But yeah, let's let's talk about our 10 00:00:43,200 --> 00:00:45,159 Speaker 1: cash giveaway. You know, with it being the end of 11 00:00:45,159 --> 00:00:47,120 Speaker 1: the year, Joel, like we were talking and we're kind 12 00:00:47,120 --> 00:00:50,000 Speaker 1: of feeling this wave of gratitude recently. We're discussing how 13 00:00:50,000 --> 00:00:52,839 Speaker 1: the year had been going. Uh, we are incredibly thankful 14 00:00:52,880 --> 00:00:55,040 Speaker 1: for you listeners out there who listened to us three 15 00:00:55,040 --> 00:00:56,920 Speaker 1: times a week, even if you only listened twice a week. 16 00:00:56,960 --> 00:00:59,000 Speaker 1: We love you still even just once, like you know, 17 00:00:59,080 --> 00:01:01,480 Speaker 1: we like you as well, still got love. But you know, 18 00:01:01,520 --> 00:01:03,360 Speaker 1: like we wouldn't have the show of course if you know, 19 00:01:03,400 --> 00:01:06,200 Speaker 1: we didn't have our listeners. Um, and so we decided 20 00:01:06,240 --> 00:01:08,440 Speaker 1: that we wanted to kind of translate those feelings of 21 00:01:08,480 --> 00:01:13,240 Speaker 1: thankfulness to charitableness. That's a that's actually a word. Wasn't really, 22 00:01:13,959 --> 00:01:16,880 Speaker 1: I'm pretty sure it is. So that means, yeah, we're 23 00:01:16,880 --> 00:01:20,280 Speaker 1: gonna give away a thousand dollars of our money to you. Uh, 24 00:01:20,280 --> 00:01:23,320 Speaker 1: and specifically, we're gonna give away one dollars to ten 25 00:01:23,680 --> 00:01:26,840 Speaker 1: different listeners so that you can then be charitable in 26 00:01:26,880 --> 00:01:29,039 Speaker 1: your community. So that's how we're calling it the cash 27 00:01:29,080 --> 00:01:31,800 Speaker 1: giveaway giveaway because we're giving away money and then we're 28 00:01:31,800 --> 00:01:34,080 Speaker 1: hoping that you in turn will give that money away. 29 00:01:34,480 --> 00:01:37,400 Speaker 1: And yeah, like that all has to do with how 30 00:01:37,440 --> 00:01:39,480 Speaker 1: Matt and I feel about money, which we try to 31 00:01:39,520 --> 00:01:42,000 Speaker 1: communicate on a regular basis that it's it's really it's 32 00:01:42,040 --> 00:01:44,920 Speaker 1: not just about making saving and investing as much as 33 00:01:44,959 --> 00:01:48,840 Speaker 1: you can, but part of the joy of having more 34 00:01:48,880 --> 00:01:51,240 Speaker 1: money in your life is also that you're able to 35 00:01:51,280 --> 00:01:54,520 Speaker 1: give more money away perfectly to to those in need 36 00:01:54,880 --> 00:01:57,720 Speaker 1: where you live. And yeah, that's something we try to 37 00:01:57,760 --> 00:02:00,720 Speaker 1: regularly do here in Atlanta where we live, give our 38 00:02:00,760 --> 00:02:03,360 Speaker 1: money to organizations that matter to us, that are doing 39 00:02:03,400 --> 00:02:06,200 Speaker 1: good where we live in our community. And that's some 40 00:02:06,360 --> 00:02:09,120 Speaker 1: something we hope that you'll incorporate into your life as well. 41 00:02:09,600 --> 00:02:12,080 Speaker 1: So here's how it works again. We're calling this the 42 00:02:12,320 --> 00:02:15,240 Speaker 1: How the Money Cash Giveaway Giveaway give away giveaway and 43 00:02:15,480 --> 00:02:17,280 Speaker 1: you can enter to win a hundred bucks. All you 44 00:02:17,320 --> 00:02:20,239 Speaker 1: gotta do is follow us on Instagram at how to 45 00:02:20,360 --> 00:02:24,040 Speaker 1: Money Pod, like the giveaway post that we're putting up today, 46 00:02:24,200 --> 00:02:26,680 Speaker 1: Tag two of your friends who you think might be interested, 47 00:02:26,720 --> 00:02:30,040 Speaker 1: and then leave a comment about what good you are 48 00:02:30,040 --> 00:02:33,280 Speaker 1: planning to do if this hundred dollars hit your account, 49 00:02:33,280 --> 00:02:34,760 Speaker 1: like what would you do with the money? We want 50 00:02:34,760 --> 00:02:36,959 Speaker 1: to hear what kind of good you would be doing 51 00:02:37,000 --> 00:02:40,800 Speaker 1: in your community. And that's all only one entry per person. 52 00:02:40,880 --> 00:02:43,680 Speaker 1: You have until noon on December twenty one to be 53 00:02:43,840 --> 00:02:46,640 Speaker 1: entered into the giveaway right next Tuesday, and we're going 54 00:02:46,680 --> 00:02:50,200 Speaker 1: to announce the winners on that Wednesday episode. And we're 55 00:02:50,240 --> 00:02:53,160 Speaker 1: also calling the cash giveaway because literally we're gonna venmo 56 00:02:53,360 --> 00:02:56,440 Speaker 1: or cash app you this money if you are selected 57 00:02:56,480 --> 00:02:58,120 Speaker 1: as one of the winners. So again, look for that 58 00:02:58,120 --> 00:03:00,480 Speaker 1: post on Instagram and we wish you the best of luck. 59 00:03:00,560 --> 00:03:03,400 Speaker 1: And it's gonna be in boring old Fiat currency U 60 00:03:03,480 --> 00:03:07,640 Speaker 1: S dollars. Sorry to know we're not gonna dip into joel'scoin. Stature. 61 00:03:08,160 --> 00:03:10,079 Speaker 1: We're nuts. But all right, let's let's move on to 62 00:03:10,120 --> 00:03:12,480 Speaker 1: our Friday flight. And these episodes are all about the 63 00:03:12,520 --> 00:03:14,440 Speaker 1: different stories we've come across this week and how they 64 00:03:14,480 --> 00:03:18,160 Speaker 1: pertain to our money. Joel usps the Postal Service. They 65 00:03:18,200 --> 00:03:21,040 Speaker 1: announced shipping deadlines for Christmas earlier this week, as we're 66 00:03:21,080 --> 00:03:23,680 Speaker 1: kind of pressing up against the I mean, Christmas is 67 00:03:23,720 --> 00:03:25,639 Speaker 1: next week, it's can you believe that it's almost here? 68 00:03:26,280 --> 00:03:29,320 Speaker 1: But today is the last day to send something first 69 00:03:29,320 --> 00:03:34,080 Speaker 1: class and have it expected to arrive before December, before Christmas. 70 00:03:34,160 --> 00:03:35,480 Speaker 1: So yeah, if you want to if you want to 71 00:03:35,480 --> 00:03:37,920 Speaker 1: get those Christmas cards to show up on time, you 72 00:03:37,960 --> 00:03:39,880 Speaker 1: need to hop to it. And then for everything else 73 00:03:39,920 --> 00:03:41,880 Speaker 1: that you ship tomorrow, you're gonna have to pay extra. 74 00:03:42,240 --> 00:03:44,520 Speaker 1: You're gonna have to maybe pay picture for priority mail 75 00:03:44,520 --> 00:03:45,920 Speaker 1: if you're wanting it to show up on time, if 76 00:03:45,920 --> 00:03:48,839 Speaker 1: you're using the Postal Service. But dude, honestly, I guess 77 00:03:48,840 --> 00:03:52,120 Speaker 1: I'm wondering, like how many folks still ship gifts specifically 78 00:03:52,200 --> 00:03:54,560 Speaker 1: themselves instead of just ordering that item and you know, 79 00:03:54,640 --> 00:03:57,240 Speaker 1: having it delivered directly to that person. Like I know 80 00:03:57,320 --> 00:03:59,720 Speaker 1: it's not the same vibe, but shipping is just so 81 00:04:00,000 --> 00:04:02,000 Speaker 1: pens of It's it's just one of those tasks that 82 00:04:02,040 --> 00:04:05,440 Speaker 1: I don't ever look forward to. It feels so nain 83 00:04:05,600 --> 00:04:07,760 Speaker 1: to put wrapped gifts in the mail and send them 84 00:04:07,800 --> 00:04:10,240 Speaker 1: and then you know like they're perfectly put together for 85 00:04:10,320 --> 00:04:13,200 Speaker 1: your family member or your friend. But it's just it's 86 00:04:13,280 --> 00:04:16,840 Speaker 1: too labor intensive, it's too expensive to do those, so 87 00:04:16,960 --> 00:04:18,719 Speaker 1: I would start to give away, giveaway. It's like you 88 00:04:18,720 --> 00:04:20,680 Speaker 1: want to wrap a gift and then send it again 89 00:04:20,680 --> 00:04:23,560 Speaker 1: in another box, right right, Yeah, I mean for us 90 00:04:23,600 --> 00:04:25,159 Speaker 1: at least, like we've as a all of our close 91 00:04:25,200 --> 00:04:27,320 Speaker 1: friends and family in person and so we're not having 92 00:04:27,360 --> 00:04:29,160 Speaker 1: to the ship any presence. But I remember as a 93 00:04:29,240 --> 00:04:32,560 Speaker 1: kid receiving like the Christmas package from Grandma and Grandpa, 94 00:04:32,600 --> 00:04:34,840 Speaker 1: like out in Illinois, Dude, that was like the best 95 00:04:34,920 --> 00:04:36,880 Speaker 1: day of the year because it was just this giant 96 00:04:36,920 --> 00:04:40,360 Speaker 1: box packed full of different gifts and like the packing peanuts. 97 00:04:40,640 --> 00:04:42,400 Speaker 1: So it always made it fun because you're like digging 98 00:04:42,440 --> 00:04:44,640 Speaker 1: through them, like oh, what's in here? That? And then 99 00:04:44,640 --> 00:04:46,600 Speaker 1: the cookie tins as well, because there's always a ton 100 00:04:46,640 --> 00:04:48,560 Speaker 1: of Christmas cookies. Which, by the way, do you have 101 00:04:48,640 --> 00:04:50,919 Speaker 1: a like a favorite Christmas cookie? Oh? I think probably 102 00:04:50,920 --> 00:04:54,320 Speaker 1: the Snicker doodle, snicker doodles, salmon sugar short reread cookie, 103 00:04:54,600 --> 00:04:58,480 Speaker 1: the classic one my grandparents made work. They're called chocolate crinkles. 104 00:04:58,600 --> 00:05:00,560 Speaker 1: Ever had heard of those or had this? But no, 105 00:05:00,880 --> 00:05:03,920 Speaker 1: they're like these dark chocolate cookies. Save me one this year. Well, 106 00:05:03,960 --> 00:05:06,159 Speaker 1: I mean, we never baked them, but maybe we should 107 00:05:06,240 --> 00:05:07,840 Speaker 1: kind of carry on the tradition. I think you should. 108 00:05:08,040 --> 00:05:09,839 Speaker 1: And I just want to mention too, if you're trying 109 00:05:09,880 --> 00:05:11,840 Speaker 1: to save money on these cards and you can't get 110 00:05:11,839 --> 00:05:15,360 Speaker 1: your act together in time, maybe a early New Year 111 00:05:15,440 --> 00:05:18,719 Speaker 1: card instead of trying to make that Christmas turnaround makes sense. 112 00:05:18,880 --> 00:05:21,520 Speaker 1: And there's so many easier ways to send Christmas cards 113 00:05:21,600 --> 00:05:23,880 Speaker 1: these these days. We I feel like we have skipped 114 00:05:23,880 --> 00:05:26,000 Speaker 1: them for like a decade straight in our family. We 115 00:05:26,000 --> 00:05:27,480 Speaker 1: need to get our act again. It's been about five 116 00:05:27,520 --> 00:05:29,200 Speaker 1: years for us, like we did it every single year 117 00:05:29,839 --> 00:05:32,080 Speaker 1: a long time. Yeah. I think you even helped us 118 00:05:32,080 --> 00:05:34,960 Speaker 1: with our last, our last Christmas card. I've take I've 119 00:05:34,960 --> 00:05:37,280 Speaker 1: taken a couple of your Christmas card photos because I'm like, 120 00:05:37,279 --> 00:05:39,760 Speaker 1: all right, Joel, the settings are set, angle it this way. 121 00:05:39,800 --> 00:05:42,320 Speaker 1: We're gonna sit right here, just pull the trigger exactly. 122 00:05:42,360 --> 00:05:45,480 Speaker 1: Any old dummy can do it. And any old dummy did, 123 00:05:45,720 --> 00:05:47,880 Speaker 1: but did a good job. Speaking of gifts, Matt, let's 124 00:05:47,880 --> 00:05:50,960 Speaker 1: talk about secondhand gifts for a second. I'm curious to 125 00:05:51,000 --> 00:05:53,760 Speaker 1: know your thoughts. Uh. In a second, I want like 126 00:05:54,440 --> 00:05:57,440 Speaker 1: if it's frugal or cheap, But before I ask you 127 00:05:57,480 --> 00:06:00,400 Speaker 1: what you think like, I think it can feel like 128 00:06:00,640 --> 00:06:03,000 Speaker 1: right now, the whole world is kind of conspiring against 129 00:06:03,040 --> 00:06:05,240 Speaker 1: us to spend more of our money, especially in the 130 00:06:05,279 --> 00:06:08,160 Speaker 1: last week leading up to Christmas. Prices aren't as low 131 00:06:08,640 --> 00:06:11,480 Speaker 1: as they were a couple of weeks ago. And if 132 00:06:11,520 --> 00:06:15,000 Speaker 1: we've been putting off our present buying, we're likely looking 133 00:06:15,040 --> 00:06:17,799 Speaker 1: to spend more than we want. And Fast Company actually 134 00:06:17,800 --> 00:06:21,640 Speaker 1: had this interesting article offering tips on giving second hand gifts. 135 00:06:21,600 --> 00:06:25,400 Speaker 1: They got some experts together who are trying to normalize 136 00:06:25,760 --> 00:06:28,080 Speaker 1: not buying brand new and trying to make it culturally 137 00:06:28,120 --> 00:06:31,560 Speaker 1: acceptable to buy used gifts, which I appreciate that mission 138 00:06:31,839 --> 00:06:35,280 Speaker 1: um One survey actually showed that two thirds of folks 139 00:06:35,360 --> 00:06:38,160 Speaker 1: are totally fine getting second hand gifts. They don't mind 140 00:06:38,200 --> 00:06:42,320 Speaker 1: receiving a second hand gift, but for some reason, as givers, 141 00:06:42,560 --> 00:06:45,880 Speaker 1: we still feel really self conscious about giving something that's used. Uh. 142 00:06:45,920 --> 00:06:47,520 Speaker 1: And so yeah, we'll link to the full story in 143 00:06:47,560 --> 00:06:50,360 Speaker 1: our show notes. But yeah, I want to know from 144 00:06:50,400 --> 00:06:52,400 Speaker 1: you it's not I don't think it's about getting rid 145 00:06:52,400 --> 00:06:54,320 Speaker 1: of like junk in your closet or craft that you 146 00:06:54,360 --> 00:06:56,719 Speaker 1: don't want. That's that's not the spirit of giving a 147 00:06:56,760 --> 00:06:59,080 Speaker 1: second hand gift. That would be cheap, I think. But 148 00:06:59,560 --> 00:07:01,240 Speaker 1: in your tomation, like would you go to the thrift 149 00:07:01,279 --> 00:07:04,520 Speaker 1: store or would you regive something? Like yeah you feel yeah, 150 00:07:04,600 --> 00:07:06,280 Speaker 1: it is it frugal cheap. We talked about it this 151 00:07:06,400 --> 00:07:08,080 Speaker 1: like a little bit, like maybe a couple of months ago. 152 00:07:08,120 --> 00:07:09,640 Speaker 1: We talked about it because you were I think you 153 00:07:09,640 --> 00:07:12,800 Speaker 1: were buying something for Zzy for Christmas, like a few 154 00:07:12,800 --> 00:07:14,880 Speaker 1: months ago off of Facebook. That's right. Now, Yeah, I 155 00:07:15,200 --> 00:07:17,680 Speaker 1: guess I got some used truss for the duty. So 156 00:07:17,720 --> 00:07:19,480 Speaker 1: I know how you feel about it because you made 157 00:07:19,480 --> 00:07:21,400 Speaker 1: the purchase. I'm pretty sure. And I'm totally for it 158 00:07:21,400 --> 00:07:23,480 Speaker 1: as well. Man. I mean, if you are able to 159 00:07:24,040 --> 00:07:26,840 Speaker 1: take something that somebody is gonna maybe toss out and 160 00:07:26,960 --> 00:07:28,880 Speaker 1: get it at a steep discount and it's still a 161 00:07:28,880 --> 00:07:30,560 Speaker 1: great item, I think that's totally the way to go. 162 00:07:30,840 --> 00:07:32,760 Speaker 1: And so yeah, us continuing to talk about it though, 163 00:07:32,800 --> 00:07:34,240 Speaker 1: I think is just a great way to make this 164 00:07:34,720 --> 00:07:36,880 Speaker 1: something that isn't to boo, you know, like like this 165 00:07:36,960 --> 00:07:39,800 Speaker 1: is a topic that should be talked about more. We 166 00:07:39,920 --> 00:07:42,280 Speaker 1: want people buying used rather than new. And the thing 167 00:07:42,360 --> 00:07:45,400 Speaker 1: is too with the supply chain hang ups hng ups 168 00:07:45,440 --> 00:07:48,400 Speaker 1: delays all that you might be forced to buy something 169 00:07:48,600 --> 00:07:51,040 Speaker 1: used this year doesn't have another option. Yeah, exactly, So 170 00:07:51,080 --> 00:07:52,920 Speaker 1: this might be the perfect year to kind of, you know, 171 00:07:53,200 --> 00:07:55,040 Speaker 1: kind of test the waters a little bit and see 172 00:07:55,080 --> 00:07:58,880 Speaker 1: a if anybody notices, but b see how you feel 173 00:07:58,880 --> 00:08:00,600 Speaker 1: about it, because like you said, Joe, I think a 174 00:08:00,600 --> 00:08:03,120 Speaker 1: lot of us feel good about receiving something that might 175 00:08:03,160 --> 00:08:06,000 Speaker 1: be gently used. But oftentimes it does come down to 176 00:08:06,400 --> 00:08:08,040 Speaker 1: maybe the feeling of guilt that you know that you 177 00:08:08,080 --> 00:08:09,760 Speaker 1: might have, or just it's like, oh am I being 178 00:08:09,800 --> 00:08:12,160 Speaker 1: cheapier by doing this. It doesn't really matter. I think 179 00:08:12,200 --> 00:08:15,120 Speaker 1: as long as you're you're being thoughtful, then you're not 180 00:08:15,160 --> 00:08:17,160 Speaker 1: being cheap. It's the heart behind it. Yeah, it doesn't 181 00:08:17,160 --> 00:08:19,400 Speaker 1: matter if if you're buying used, as long as the 182 00:08:19,400 --> 00:08:20,720 Speaker 1: heart behind it. Like, hey, I gets use this a 183 00:08:20,760 --> 00:08:23,080 Speaker 1: dish towel from the the thrift store. It's like that's 184 00:08:23,120 --> 00:08:24,360 Speaker 1: that's not a good game. But you might find a 185 00:08:24,360 --> 00:08:27,119 Speaker 1: cool vintage item there that is way better than anything 186 00:08:27,120 --> 00:08:28,400 Speaker 1: new you could get. Well. I think that's a part 187 00:08:28,400 --> 00:08:31,000 Speaker 1: of it too, is because oftentimes used items that you 188 00:08:31,080 --> 00:08:33,560 Speaker 1: can gift tend to be like a little bit nicer, 189 00:08:33,679 --> 00:08:35,680 Speaker 1: right because if it's something that's super cheap and plastic 190 00:08:35,720 --> 00:08:38,720 Speaker 1: or something that's gonna break well, like secondhand when it 191 00:08:38,720 --> 00:08:40,920 Speaker 1: comes to those kind of products, are probably not a 192 00:08:40,920 --> 00:08:42,600 Speaker 1: good way to go. But if you can get something 193 00:08:42,640 --> 00:08:45,400 Speaker 1: really nice, even something that might be considered an antique, 194 00:08:45,400 --> 00:08:47,000 Speaker 1: I totally think that's the way to go. All right, cool, 195 00:08:47,080 --> 00:08:50,120 Speaker 1: Glad to get your thoughts on that. And yeah, hopefully 196 00:08:50,120 --> 00:08:53,360 Speaker 1: some of our listeners, if you do give used gifts, 197 00:08:53,559 --> 00:08:54,800 Speaker 1: we love to hear from you. Drop us a line, 198 00:08:54,840 --> 00:08:56,960 Speaker 1: let us know how you do it and how you 199 00:08:57,000 --> 00:08:59,880 Speaker 1: make it not awkward, because I think it's a good 200 00:08:59,880 --> 00:09:02,440 Speaker 1: thing to strive for. And Matt, let's talk about investing 201 00:09:02,520 --> 00:09:04,280 Speaker 1: here for a second, cause there was this this new 202 00:09:04,320 --> 00:09:06,520 Speaker 1: survey that just came out this week and it found 203 00:09:06,559 --> 00:09:10,640 Speaker 1: that sixty of investors have said that the performance of 204 00:09:10,679 --> 00:09:15,640 Speaker 1: their investments impacts their mental health. And mental health is 205 00:09:15,640 --> 00:09:17,240 Speaker 1: is something that you know, what we talked about more 206 00:09:17,240 --> 00:09:18,480 Speaker 1: and more in this country, which I think is a 207 00:09:18,480 --> 00:09:21,320 Speaker 1: good thing. But in the era that we're currently living in, 208 00:09:21,640 --> 00:09:24,480 Speaker 1: this really doesn't surprise me that that seven and ten 209 00:09:24,520 --> 00:09:28,000 Speaker 1: people almost have say that that how their investments are 210 00:09:28,000 --> 00:09:31,319 Speaker 1: performing has an impact on how they're feeling about life. 211 00:09:31,640 --> 00:09:34,520 Speaker 1: And yeah, this study was from Schroders, and it also 212 00:09:34,559 --> 00:09:37,240 Speaker 1: found that people have been turning to riskier investments over 213 00:09:37,280 --> 00:09:39,920 Speaker 1: the past year, which I think, yeah, we've seen that 214 00:09:40,720 --> 00:09:43,440 Speaker 1: in a big way. Younger folks have been more willing 215 00:09:43,640 --> 00:09:46,400 Speaker 1: to make risky your bets with their investment dollars. And 216 00:09:46,679 --> 00:09:48,920 Speaker 1: we're not against taking risk with your money. You and 217 00:09:48,960 --> 00:09:52,560 Speaker 1: I write investing in the market, Is this inherently risky 218 00:09:52,600 --> 00:09:55,400 Speaker 1: thing to do, we would say, But we have always said, 219 00:09:55,520 --> 00:09:58,920 Speaker 1: even before inflation started going off the rails, that inflation 220 00:09:59,520 --> 00:10:02,920 Speaker 1: is a bigger risk to you. It's gonna slowly erode 221 00:10:02,960 --> 00:10:05,880 Speaker 1: the value of your savings. And that is something that 222 00:10:05,920 --> 00:10:07,760 Speaker 1: again we have seen in a big way this year, 223 00:10:07,800 --> 00:10:12,520 Speaker 1: or not so slowly, yeah, or more rapidly considering six Yeah, 224 00:10:12,559 --> 00:10:15,439 Speaker 1: in the case rapidly we're sitting right now. But yeah, 225 00:10:16,160 --> 00:10:18,920 Speaker 1: I feel like this increased risk taking is leading to 226 00:10:18,920 --> 00:10:22,160 Speaker 1: more mental stress and the more volatility in some of 227 00:10:22,200 --> 00:10:25,080 Speaker 1: these investments is stressing people out and so I think 228 00:10:25,120 --> 00:10:27,760 Speaker 1: this is, yeah, just another reason why you and I 229 00:10:27,800 --> 00:10:30,760 Speaker 1: were fans of the simple path, which is index funds. 230 00:10:30,880 --> 00:10:33,840 Speaker 1: And it also works really well from a return perspective 231 00:10:33,840 --> 00:10:36,240 Speaker 1: over time. But it's not just that it helps you 232 00:10:36,280 --> 00:10:39,439 Speaker 1: sleep at night. It helps curb worries, fears, and anxiety. 233 00:10:39,559 --> 00:10:41,079 Speaker 1: And so yeah, if you're one of those people who's 234 00:10:41,120 --> 00:10:44,560 Speaker 1: like constantly tracking your portfolio, you're maybe uh, taking on 235 00:10:44,760 --> 00:10:47,520 Speaker 1: too much risk and it's making it hard to sleep 236 00:10:47,559 --> 00:10:49,800 Speaker 1: at night, you get cold sweats from from time to time, 237 00:10:49,920 --> 00:10:52,480 Speaker 1: something like that. You need to think not just about performance, 238 00:10:52,520 --> 00:10:55,160 Speaker 1: but also about your life and and and your mental 239 00:10:55,520 --> 00:10:58,480 Speaker 1: your mental well being and if you can't handle those 240 00:10:58,520 --> 00:11:01,280 Speaker 1: gyrations very well, and you probably need to rethink your 241 00:11:01,320 --> 00:11:04,760 Speaker 1: investment strategy totally. Yeah, while we're talking about in index funds, 242 00:11:04,760 --> 00:11:07,080 Speaker 1: actually let's talk about a favorites of ours, which is 243 00:11:07,160 --> 00:11:11,080 Speaker 1: VT SACKS And this is Vanguard's Total stock Market index fund. 244 00:11:11,400 --> 00:11:13,280 Speaker 1: It's got all the things that we love going on. 245 00:11:13,360 --> 00:11:16,240 Speaker 1: It's you're well diversified by owning a small piece of 246 00:11:16,400 --> 00:11:19,160 Speaker 1: thousands of US companies with just this one fund, and 247 00:11:19,240 --> 00:11:22,480 Speaker 1: the expense ratio is minuscule at point zero four percent. 248 00:11:22,679 --> 00:11:24,480 Speaker 1: That's what I'm looking for when it comes to index 249 00:11:24,520 --> 00:11:26,760 Speaker 1: funds that I went to invest in doubt um and 250 00:11:26,800 --> 00:11:29,080 Speaker 1: the Wall Street Journal they report that this fund now 251 00:11:29,120 --> 00:11:33,000 Speaker 1: holds over one point three trillion dollars, which means that 252 00:11:33,040 --> 00:11:36,520 Speaker 1: this VT SACKS fund holds more than ten percent of 253 00:11:36,559 --> 00:11:40,080 Speaker 1: overall US mutual fund dollars, which is this is incredible. 254 00:11:40,400 --> 00:11:42,360 Speaker 1: It makes us so happy to see so many more 255 00:11:42,360 --> 00:11:46,040 Speaker 1: folks pouring money into widely diversified, low cost index funds 256 00:11:46,240 --> 00:11:49,040 Speaker 1: because you know, like investing strategies just generally speaking, can 257 00:11:49,040 --> 00:11:52,240 Speaker 1: get really complicated, but years does not have to be complicated. 258 00:11:52,480 --> 00:11:56,360 Speaker 1: VT SACKS or v o O. That's the SMP five index. 259 00:11:56,760 --> 00:11:59,719 Speaker 1: These are both excellent one stop shops for a lot 260 00:11:59,760 --> 00:12:03,439 Speaker 1: of oakes with a tin plus year investing timeline ahead 261 00:12:03,440 --> 00:12:06,760 Speaker 1: of them. They are incredibly boring right like they're they're 262 00:12:06,800 --> 00:12:09,439 Speaker 1: they're not being handled by a fund manager who's buying 263 00:12:09,440 --> 00:12:13,800 Speaker 1: and selling and reallocating and rebalancing the portfolio. There's like 264 00:12:13,840 --> 00:12:15,960 Speaker 1: no cool Cathy would story to go along with ye. 265 00:12:16,200 --> 00:12:18,400 Speaker 1: There is not a narrative associated with it except that 266 00:12:18,720 --> 00:12:21,480 Speaker 1: this is associated with the entire country, like this is 267 00:12:21,480 --> 00:12:23,720 Speaker 1: how our country is doing. Essentially, when it comes to 268 00:12:23,720 --> 00:12:27,479 Speaker 1: these businesses, and you know, you will see some fluctuations 269 00:12:27,559 --> 00:12:29,320 Speaker 1: when it comes to index funds, but not like you 270 00:12:29,360 --> 00:12:33,480 Speaker 1: would with individual stocks, individual companies, which oftentimes see movement 271 00:12:33,559 --> 00:12:36,920 Speaker 1: just based on the musings or a tweet of a 272 00:12:36,960 --> 00:12:40,040 Speaker 1: particular CEO who might also happen to be Times Person 273 00:12:40,120 --> 00:12:42,880 Speaker 1: of the Year. Like these kind of things. Uh, these 274 00:12:42,920 --> 00:12:47,160 Speaker 1: little media appearances comments have massive effects of the performance 275 00:12:47,360 --> 00:12:49,520 Speaker 1: of a particular company, and that's what we're trying to 276 00:12:49,520 --> 00:12:51,480 Speaker 1: avoid here. And and speaking of Kathy would when you 277 00:12:51,480 --> 00:12:53,880 Speaker 1: look at she's for folks who don't know like she is, 278 00:12:53,920 --> 00:12:56,440 Speaker 1: this superstar fund manager who had just a ton of 279 00:12:56,440 --> 00:12:59,400 Speaker 1: success last year, the funds that she killed it in 280 00:12:59,440 --> 00:13:02,120 Speaker 1: charge of. She Yeah, the earnings we are insaneushed. But 281 00:13:02,559 --> 00:13:04,960 Speaker 1: the last four or five, six months, or I don't 282 00:13:04,960 --> 00:13:07,800 Speaker 1: even know, a year, and maybe this entire year, they've 283 00:13:07,840 --> 00:13:10,920 Speaker 1: they've performed poorly. Yeah, and so what goes up must 284 00:13:10,920 --> 00:13:13,280 Speaker 1: come down sort of thing. And yeah, if you're riding 285 00:13:13,320 --> 00:13:16,040 Speaker 1: the high, you're happy. But I mean a lot of 286 00:13:16,040 --> 00:13:17,640 Speaker 1: people have lost a lot of money. A lot of 287 00:13:17,640 --> 00:13:21,240 Speaker 1: people got into at the exact wrong time, into her funds. 288 00:13:21,520 --> 00:13:24,840 Speaker 1: And so yeah, we like index funds for so many reasons, 289 00:13:25,000 --> 00:13:28,320 Speaker 1: and speaking of the index fund VT Sacks Matt, which 290 00:13:28,360 --> 00:13:31,359 Speaker 1: is one of my personal favorites. We think that politicians, 291 00:13:31,480 --> 00:13:33,880 Speaker 1: you and I should have to stick their investment dollars 292 00:13:33,920 --> 00:13:36,600 Speaker 1: in index funds too. And we're not the fans, not 293 00:13:36,600 --> 00:13:39,200 Speaker 1: that you and I are politicians, but we believe exactly what. 294 00:13:39,480 --> 00:13:43,679 Speaker 1: We're not fans of forcing anyone into index funds except politicians, 295 00:13:43,720 --> 00:13:46,120 Speaker 1: and and you and I we intentionally stay away from 296 00:13:46,120 --> 00:13:48,559 Speaker 1: politics as much as possible on the show, but we're 297 00:13:48,600 --> 00:13:51,760 Speaker 1: going to briefly offer our nonpartisan thoughts about the ways 298 00:13:52,120 --> 00:13:55,280 Speaker 1: politicians are allowed to invest. And right now they can 299 00:13:55,320 --> 00:13:58,120 Speaker 1: buy shares of into visual stocks to their hearts content 300 00:13:58,480 --> 00:14:02,040 Speaker 1: as much as they want, and that right to do 301 00:14:02,080 --> 00:14:05,560 Speaker 1: that was defended on Wednesday by how Speaker Nancy Pelosi, 302 00:14:05,920 --> 00:14:07,840 Speaker 1: and we just want to put it out there that 303 00:14:07,880 --> 00:14:11,480 Speaker 1: we completely disagree with her feelings on that, like we've 304 00:14:11,520 --> 00:14:15,600 Speaker 1: seen politicians abuse this ability in recent months, in the 305 00:14:15,640 --> 00:14:19,680 Speaker 1: last couple of years. In fact, both former Republican senators 306 00:14:19,720 --> 00:14:22,320 Speaker 1: from the state of Georgia where we live, made trades 307 00:14:22,360 --> 00:14:25,640 Speaker 1: early on in the pandemic that benefited them financially in 308 00:14:25,680 --> 00:14:29,600 Speaker 1: a big way. Trades were made on the exact day 309 00:14:29,680 --> 00:14:33,680 Speaker 1: of an important COVID briefing in January. And if it's 310 00:14:33,760 --> 00:14:37,480 Speaker 1: not illegal, well it's certainly shady. And yeah, we're fans 311 00:14:37,520 --> 00:14:40,080 Speaker 1: of index funds for everyone, but we think that are 312 00:14:40,120 --> 00:14:43,160 Speaker 1: elected leaders who are steering the ship of this country 313 00:14:43,240 --> 00:14:45,280 Speaker 1: should not be able to profit from the meetings they 314 00:14:45,280 --> 00:14:47,920 Speaker 1: take and the laws they're seeking to enact. So yeah, 315 00:14:47,920 --> 00:14:50,480 Speaker 1: I know they're probably not going to create legislation to 316 00:14:50,560 --> 00:14:53,960 Speaker 1: prevent themselves from enriching themselves, but I think they should. Yeah, 317 00:14:53,960 --> 00:14:56,640 Speaker 1: that they should because it's a complete conflict of interest. 318 00:14:56,880 --> 00:14:59,560 Speaker 1: Who's to say because like one of the arguments against 319 00:14:59,560 --> 00:15:02,240 Speaker 1: prosty shooting or you know, like because there isn't a 320 00:15:02,320 --> 00:15:04,840 Speaker 1: rule in place, right that says that the report that 321 00:15:05,120 --> 00:15:07,000 Speaker 1: you have to report and that you're you know, you 322 00:15:07,000 --> 00:15:09,560 Speaker 1: shouldn't be swayed by the information that you can leave. 323 00:15:09,600 --> 00:15:12,120 Speaker 1: But how do you prove, you know, like someone could say, 324 00:15:12,160 --> 00:15:14,240 Speaker 1: well I was gonna buy that anyway, right, And so 325 00:15:14,480 --> 00:15:17,280 Speaker 1: the inability to prove that someone does have a conflict 326 00:15:17,280 --> 00:15:20,880 Speaker 1: of interest or insider information is incredibly difficult. So like 327 00:15:20,920 --> 00:15:23,400 Speaker 1: what we're saying is, let's just remove that option from 328 00:15:23,440 --> 00:15:25,840 Speaker 1: those elected officials, because we're not saying that they can't 329 00:15:25,840 --> 00:15:28,800 Speaker 1: invest at all. But instead let's just say, okay, you 330 00:15:28,800 --> 00:15:31,280 Speaker 1: want to invest invest in the entire market. That way, 331 00:15:31,320 --> 00:15:33,600 Speaker 1: the different laws that you pass and the different committees 332 00:15:33,640 --> 00:15:36,000 Speaker 1: that you oversee or the different hearings that you are 333 00:15:36,320 --> 00:15:39,640 Speaker 1: calling into place, that you're presiding over those things just 334 00:15:39,760 --> 00:15:42,160 Speaker 1: out of a desire to do good and that you're 335 00:15:42,200 --> 00:15:44,680 Speaker 1: not tempted to make decisions one way or the other. Uh, 336 00:15:44,760 --> 00:15:48,760 Speaker 1: in order to see your portfolio experience a little boost. Specifically, 337 00:15:48,800 --> 00:15:51,000 Speaker 1: Pelosi's husband, he's got like tens of millions of dollars, 338 00:15:51,120 --> 00:15:53,720 Speaker 1: right and uh a recently invested in the stock market 339 00:15:53,760 --> 00:15:56,000 Speaker 1: and individual companies, right, and so like one of them 340 00:15:56,080 --> 00:15:58,320 Speaker 1: is like Visa. So he's got between like I think 341 00:15:58,320 --> 00:16:01,120 Speaker 1: like five and twenty million and Visa. Uh. It's like, okay, 342 00:16:01,120 --> 00:16:02,760 Speaker 1: who's to say that if there is some sort of 343 00:16:02,760 --> 00:16:05,880 Speaker 1: decision that needed to be made that you know, like 344 00:16:05,960 --> 00:16:09,120 Speaker 1: the Congress Nancy, like they're not making like, oh, there's 345 00:16:09,160 --> 00:16:12,400 Speaker 1: a linear decision specifically towards that company. How do you 346 00:16:12,560 --> 00:16:15,080 Speaker 1: ensure that that decision wasn't being made because you do 347 00:16:15,080 --> 00:16:18,000 Speaker 1: want to see that boost in your portfolio. It's incredibly difficult. 348 00:16:18,200 --> 00:16:21,080 Speaker 1: So that's what we're saying let's remove that option altogether 349 00:16:21,240 --> 00:16:23,720 Speaker 1: and invest in the total stock market or the smp 350 00:16:23,840 --> 00:16:26,280 Speaker 1: FI funer or even target date funds, right, just any 351 00:16:26,360 --> 00:16:29,880 Speaker 1: fund that doesn't involve specific types of companies being in 352 00:16:29,920 --> 00:16:32,920 Speaker 1: there as opposed to just a sampling of the entire thing. Yeah, 353 00:16:32,920 --> 00:16:35,800 Speaker 1: they should not be allowed to trade like like they 354 00:16:35,800 --> 00:16:38,400 Speaker 1: have been. And and again this cuts across party lines. 355 00:16:38,520 --> 00:16:42,040 Speaker 1: Republicans and Democrats have both been guilty of this, and 356 00:16:42,160 --> 00:16:44,160 Speaker 1: so yeah, we wanted to point this out, like those 357 00:16:44,200 --> 00:16:46,080 Speaker 1: are marks, are defending something that we think has been 358 00:16:46,120 --> 00:16:49,440 Speaker 1: abused on both sides of the aisle. And this is 359 00:16:49,520 --> 00:16:52,560 Speaker 1: a privilege that Congress people have that should go away 360 00:16:52,680 --> 00:16:55,240 Speaker 1: and should go away soon. All Right, Matt, We've got 361 00:16:55,280 --> 00:16:57,680 Speaker 1: more to get to, including the parts of our country 362 00:16:57,880 --> 00:17:00,560 Speaker 1: where it's cheapest to live. Well, we'll get to that 363 00:17:00,800 --> 00:17:12,000 Speaker 1: right out for this break, all right, this is our 364 00:17:12,040 --> 00:17:14,679 Speaker 1: Friday flight. We're gonna get to several other stories included. 365 00:17:14,840 --> 00:17:17,160 Speaker 1: We're gonna talk about I bonds, We're gonna talk about inflation, 366 00:17:17,560 --> 00:17:19,840 Speaker 1: other things that start with I. Already talked about inflation 367 00:17:19,880 --> 00:17:21,160 Speaker 1: on Wednesday, Mact, do we need to do it again. 368 00:17:21,160 --> 00:17:23,560 Speaker 1: We're gonna, Yeah, We're gonna brush up on it. I 369 00:17:23,560 --> 00:17:25,720 Speaker 1: think there there are more things we gotta cover. Yeah, 370 00:17:25,760 --> 00:17:28,440 Speaker 1: And when we were also going to mention our ludicrous 371 00:17:28,440 --> 00:17:31,080 Speaker 1: headline of the week. This one comes from NPR and 372 00:17:31,119 --> 00:17:33,639 Speaker 1: it reads the best and worst places to live if 373 00:17:33,640 --> 00:17:36,919 Speaker 1: you only care about money. And the reason this headline 374 00:17:36,960 --> 00:17:40,240 Speaker 1: was ludicrous in our estimation is that money shouldn't be 375 00:17:40,280 --> 00:17:42,920 Speaker 1: the only factor when you are deciding where to live. 376 00:17:43,600 --> 00:17:45,320 Speaker 1: But I shouldn't be the only thing you care about. 377 00:17:45,680 --> 00:17:48,320 Speaker 1: I love my family and I do too, and but 378 00:17:48,520 --> 00:17:51,200 Speaker 1: like money, money is incredibly important, but there are other 379 00:17:51,240 --> 00:17:53,600 Speaker 1: things to consider. But we wanted to We did want 380 00:17:53,600 --> 00:17:55,760 Speaker 1: to talk about the story because it's worth mentioning which 381 00:17:55,800 --> 00:17:58,720 Speaker 1: places might be a good fit for for more financially 382 00:17:58,760 --> 00:18:01,680 Speaker 1: conscious folks. And three of the locations that offer the 383 00:18:01,720 --> 00:18:04,520 Speaker 1: highest standard of living for college graduates are in Texas, 384 00:18:05,160 --> 00:18:08,960 Speaker 1: including Houston. For folks with a high school degree, the 385 00:18:08,960 --> 00:18:13,640 Speaker 1: most affordable places to live are Nachez, Mississippi, and Gallop, 386 00:18:13,680 --> 00:18:16,200 Speaker 1: New Mexico. It's Natches? Is it? Is it really? Natches? 387 00:18:16,400 --> 00:18:18,960 Speaker 1: I think? So? What did I say? Natchez? It's not 388 00:18:19,040 --> 00:18:22,879 Speaker 1: like Nachos? Maybe, but these are like two of the 389 00:18:22,920 --> 00:18:25,600 Speaker 1: top locations worth considering, and the reason we mentioned this 390 00:18:25,640 --> 00:18:27,560 Speaker 1: is because the pandemic has caused a lot of us 391 00:18:27,560 --> 00:18:30,159 Speaker 1: to rethink our current way of life, and you know, 392 00:18:30,280 --> 00:18:33,520 Speaker 1: moving living a more flexible lifestyle. It is a bigger 393 00:18:33,560 --> 00:18:37,240 Speaker 1: priority for many folks. And obviously, like most folks probably 394 00:18:37,280 --> 00:18:39,320 Speaker 1: won't up and move to Mississippi just because they heard 395 00:18:39,359 --> 00:18:41,480 Speaker 1: us talking about it or because they heard it uh 396 00:18:41,640 --> 00:18:44,560 Speaker 1: mentioned in an NPR article, it's still helpful to remember 397 00:18:44,600 --> 00:18:47,000 Speaker 1: that you aren't necessarily tied down to where you currently live. 398 00:18:47,640 --> 00:18:51,280 Speaker 1: There's opportunity across our country to earn more and the 399 00:18:51,320 --> 00:18:54,359 Speaker 1: potential to save more. Overall. Yeah, yeah, stories like this 400 00:18:54,400 --> 00:18:56,800 Speaker 1: I think are helpful to see that you don't have 401 00:18:56,880 --> 00:18:59,200 Speaker 1: to move to San Francisco or to New York City 402 00:18:59,359 --> 00:19:01,800 Speaker 1: in order to sco or the biggest paycheck while you're 403 00:19:01,840 --> 00:19:04,600 Speaker 1: attempting to save a lot of money. Because it is 404 00:19:04,640 --> 00:19:07,200 Speaker 1: interesting in that in that same study they did find 405 00:19:07,200 --> 00:19:09,879 Speaker 1: that San Francisco and New York there are some people 406 00:19:10,040 --> 00:19:13,720 Speaker 1: assume that they're either prohibitbly expensive and so it doesn't 407 00:19:13,760 --> 00:19:16,640 Speaker 1: make sense for anyone to move there, But that's not true. 408 00:19:16,680 --> 00:19:18,960 Speaker 1: There are a lot of high paying jobs there for 409 00:19:19,200 --> 00:19:22,760 Speaker 1: people with certain skills. But then yeah, they are much 410 00:19:22,800 --> 00:19:26,360 Speaker 1: more difficult for people with just a high school diploma 411 00:19:26,440 --> 00:19:29,119 Speaker 1: to live there. Um, you really have to have to 412 00:19:29,240 --> 00:19:30,920 Speaker 1: in order to make it in one of those towns, 413 00:19:31,119 --> 00:19:33,119 Speaker 1: and it not to be just a slog. You do 414 00:19:33,240 --> 00:19:35,760 Speaker 1: have to have a decent income, right, But even if 415 00:19:35,800 --> 00:19:38,000 Speaker 1: you are earning a lot in those places, you're spending 416 00:19:38,040 --> 00:19:41,760 Speaker 1: a ton on everything. And so, yeah, instead you can, 417 00:19:41,920 --> 00:19:44,719 Speaker 1: especially with now in an age where our jobs are 418 00:19:44,760 --> 00:19:47,080 Speaker 1: much more flexible, many of us can work from wherever 419 00:19:47,119 --> 00:19:49,680 Speaker 1: we want. We can prioritize go into smaller towns in 420 00:19:49,720 --> 00:19:52,200 Speaker 1: the United States that can make it easier to stretch 421 00:19:52,240 --> 00:19:55,720 Speaker 1: our incomes. And yeah, if you're really flexible, you just 422 00:19:55,880 --> 00:19:58,679 Speaker 1: bounce around from city to city full time. Because like 423 00:19:58,960 --> 00:20:01,639 Speaker 1: I'm thinking about traveling this matter. Have you seen some 424 00:20:01,680 --> 00:20:04,399 Speaker 1: of the stories recently about how much traveling nurses are 425 00:20:04,400 --> 00:20:06,640 Speaker 1: able to make. You're making bank making a lot of money. 426 00:20:06,640 --> 00:20:09,840 Speaker 1: Some of them can make like almost ten tho dollars 427 00:20:09,880 --> 00:20:15,240 Speaker 1: in in a week. Uh in some locations with certain skills, 428 00:20:15,280 --> 00:20:18,320 Speaker 1: some traveling nurses are tripling their salaries. And so it's 429 00:20:18,320 --> 00:20:19,520 Speaker 1: one of those things where, yeah, you don't have to 430 00:20:19,560 --> 00:20:21,560 Speaker 1: do it forever, but you can make you can make 431 00:20:21,600 --> 00:20:23,920 Speaker 1: a lot of money, But we would say that most 432 00:20:23,960 --> 00:20:27,239 Speaker 1: folks don't I don't think and most folks should not 433 00:20:27,320 --> 00:20:30,840 Speaker 1: prioritize where they live by only thinking about the bottom 434 00:20:30,840 --> 00:20:34,240 Speaker 1: line of tax rates and cost of living. Like you know, 435 00:20:34,359 --> 00:20:36,679 Speaker 1: you shouldn't necessarily move to a state with no income 436 00:20:36,680 --> 00:20:39,280 Speaker 1: tax because your state currently has one and you think 437 00:20:39,320 --> 00:20:43,680 Speaker 1: that's bogus. Uh, These should be maybe factors in your decision, 438 00:20:43,920 --> 00:20:46,480 Speaker 1: but there are other things that are strongly worth considering, 439 00:20:46,840 --> 00:20:49,760 Speaker 1: like how attached to order your community, how close are 440 00:20:49,760 --> 00:20:52,040 Speaker 1: you to family and friends, how close are you to 441 00:20:52,160 --> 00:20:54,400 Speaker 1: the outdoor activities that you love. Those are the kind 442 00:20:54,400 --> 00:20:56,320 Speaker 1: of things that that matter and move the needle in 443 00:20:56,320 --> 00:20:59,560 Speaker 1: a big way. But it's not that finances shouldn't be considered. Yes, 444 00:20:59,600 --> 00:21:01,679 Speaker 1: there is more to life than just the money. Like 445 00:21:01,720 --> 00:21:04,680 Speaker 1: you saidill, relationships in particular are incredibly important, and even 446 00:21:04,720 --> 00:21:06,600 Speaker 1: just thinking through the different things that we want to 447 00:21:06,680 --> 00:21:09,280 Speaker 1: spend our time doing when we're not working. Because if yeah, 448 00:21:09,280 --> 00:21:10,960 Speaker 1: if you're only looking at work, then what you should 449 00:21:11,000 --> 00:21:12,960 Speaker 1: be doing is going to where you can get paid 450 00:21:12,960 --> 00:21:15,360 Speaker 1: the most money for that work. But our life includes 451 00:21:15,440 --> 00:21:17,280 Speaker 1: so much more than just the work that we do. 452 00:21:17,600 --> 00:21:19,400 Speaker 1: And this kind of this is like a little foreshadowing 453 00:21:19,440 --> 00:21:22,240 Speaker 1: for next Wednesday's episode, Uh, where we're going to talk 454 00:21:22,320 --> 00:21:24,800 Speaker 1: about how we need to be putting money in its 455 00:21:24,800 --> 00:21:26,800 Speaker 1: proper place. That's a big part of why we're also 456 00:21:26,840 --> 00:21:30,760 Speaker 1: doing this cash money giveaway giveaway, because we want to 457 00:21:30,760 --> 00:21:33,840 Speaker 1: demonstrate that is not about hanging onto as much money 458 00:21:33,880 --> 00:21:36,080 Speaker 1: as possible. Uh, look for other ways that you can 459 00:21:36,119 --> 00:21:38,639 Speaker 1: pay af forward, where you can give that money away. 460 00:21:38,720 --> 00:21:40,639 Speaker 1: And so let's keep moving. Let's let's touch on the 461 00:21:40,680 --> 00:21:44,560 Speaker 1: unpreceded demand for I bonds. Bloomberg they reported that more 462 00:21:44,600 --> 00:21:47,120 Speaker 1: people bought I bonds in November of this year than 463 00:21:47,200 --> 00:21:49,640 Speaker 1: any month on record, although you know they've only been 464 00:21:49,760 --> 00:21:53,760 Speaker 1: keeping track of this that for the past eight years. Hey, 465 00:21:53,920 --> 00:21:55,480 Speaker 1: how the money is on track to give away more 466 00:21:55,480 --> 00:21:58,920 Speaker 1: money this year than we've ever given away. But we've 467 00:21:58,920 --> 00:22:00,679 Speaker 1: only been keeping that stap for or six months, and 468 00:22:00,720 --> 00:22:04,399 Speaker 1: you go ahead and hit published on that release. But 469 00:22:04,440 --> 00:22:06,280 Speaker 1: I know that we've talked about I bonds a lot lately, 470 00:22:06,320 --> 00:22:09,199 Speaker 1: but it's worth mentioning them again because honestly, like they 471 00:22:09,240 --> 00:22:11,800 Speaker 1: have not been a great bye for a whole lot 472 00:22:11,840 --> 00:22:15,239 Speaker 1: of years while inflation rates were pretty low, but they 473 00:22:15,320 --> 00:22:17,200 Speaker 1: are a great bye for a ton of folks right now. 474 00:22:17,480 --> 00:22:20,439 Speaker 1: Remember you are limited to ten thousand dollars per person 475 00:22:20,560 --> 00:22:23,399 Speaker 1: per calendar year. So if you've got cash on the 476 00:22:23,440 --> 00:22:26,440 Speaker 1: sidelines that you don't want to invest in the markets, 477 00:22:26,720 --> 00:22:28,520 Speaker 1: but it's money that you also don't want to see 478 00:22:28,560 --> 00:22:31,320 Speaker 1: get smoked by high rates of inflation. You can buy 479 00:22:31,400 --> 00:22:33,880 Speaker 1: ten thousand dollars worth of I bonds now and then 480 00:22:34,000 --> 00:22:36,360 Speaker 1: you could do this again in early January. Once it's 481 00:22:37,480 --> 00:22:40,080 Speaker 1: you're limited to ten thousand dollars every year, so you 482 00:22:40,080 --> 00:22:42,960 Speaker 1: don't want to miss the window for putting that money in. Joel, 483 00:22:42,960 --> 00:22:44,720 Speaker 1: I think you're even are you talk about getting something. 484 00:22:45,760 --> 00:22:47,440 Speaker 1: I'm doing it. I like it. In the next few days, 485 00:22:47,560 --> 00:22:50,600 Speaker 1: gonna put put ten grand in hopefully and then planning 486 00:22:50,600 --> 00:22:53,440 Speaker 1: to do the same in January. Yeah. I mean it's 487 00:22:53,440 --> 00:22:57,040 Speaker 1: a great way to diversify your investments, and especially if 488 00:22:57,080 --> 00:22:58,639 Speaker 1: you know that this is money that you will likely 489 00:22:58,720 --> 00:23:01,200 Speaker 1: not need to touch over the next at least twelve months. 490 00:23:01,240 --> 00:23:04,359 Speaker 1: And I bonds work completely unattractive for a long period. 491 00:23:04,359 --> 00:23:06,520 Speaker 1: Never mentioned them on the show, but they have quickly 492 00:23:06,560 --> 00:23:09,920 Speaker 1: become something that are very attractive. Yeah. And the reason 493 00:23:09,960 --> 00:23:12,600 Speaker 1: they were so unattractive is because rates of inflation were 494 00:23:12,640 --> 00:23:14,800 Speaker 1: incredibly low. And so what you would get paid with 495 00:23:14,840 --> 00:23:17,240 Speaker 1: the n I bond was pretty meaningless, but it's not 496 00:23:17,320 --> 00:23:19,960 Speaker 1: meaningless anymore. And so yeah, if you've heard us yapping 497 00:23:20,000 --> 00:23:22,159 Speaker 1: but you haven't pounced, now is a good time to 498 00:23:22,240 --> 00:23:25,080 Speaker 1: do so. One quick inflation note by the way, Matt, 499 00:23:25,119 --> 00:23:27,040 Speaker 1: because we did dedicate a lot of thoughts to it 500 00:23:27,080 --> 00:23:30,600 Speaker 1: on Wednesday. But Alison Schreger wrote this great piece in 501 00:23:30,600 --> 00:23:33,760 Speaker 1: Bloomberg about how much power we have as individuals to 502 00:23:33,800 --> 00:23:36,840 Speaker 1: fight inflation, and she just made some really great points 503 00:23:36,840 --> 00:23:38,479 Speaker 1: in there that I wanted to kind of touch on. 504 00:23:38,800 --> 00:23:41,680 Speaker 1: You know what, while politicians they seem to be quick 505 00:23:41,680 --> 00:23:44,880 Speaker 1: to blame greedy companies for the higher prices that we're 506 00:23:44,920 --> 00:23:48,080 Speaker 1: seeing as consumers, it turns out we have never been 507 00:23:48,080 --> 00:23:51,719 Speaker 1: in a stronger position, largely because of the Internet. Like 508 00:23:51,880 --> 00:23:55,399 Speaker 1: we can comparison shop like never before thanks to just 509 00:23:55,440 --> 00:23:58,200 Speaker 1: like plug ins like Honey or Camel Camel Camel on 510 00:23:58,280 --> 00:24:00,800 Speaker 1: our web browsers. And if you want to know where 511 00:24:00,840 --> 00:24:03,800 Speaker 1: to get the best price on gas before you start driving, 512 00:24:04,080 --> 00:24:05,880 Speaker 1: there's an app called gas Buddy right that can help 513 00:24:05,880 --> 00:24:07,960 Speaker 1: you out there, and you can plot out your course 514 00:24:07,960 --> 00:24:10,240 Speaker 1: according to where you're gonna be able to get the 515 00:24:10,240 --> 00:24:12,840 Speaker 1: lowest price per gallon, and Matt, I even thought this 516 00:24:12,880 --> 00:24:15,440 Speaker 1: week when I was shopping at Aldi that prices seem 517 00:24:15,480 --> 00:24:17,880 Speaker 1: to have And maybe this is just anecdotal and not accurate, 518 00:24:17,920 --> 00:24:21,320 Speaker 1: but it certainly seems like prices have risen less there 519 00:24:21,640 --> 00:24:23,480 Speaker 1: than they have at some of the other grocery stores 520 00:24:23,560 --> 00:24:26,800 Speaker 1: I've been to. And that's that's empirical data, that's not 521 00:24:26,840 --> 00:24:29,399 Speaker 1: anecdotal of it. Well, I think this is just a 522 00:24:29,440 --> 00:24:32,280 Speaker 1: reminder to all of us, like, don't take inflation lying down. 523 00:24:32,320 --> 00:24:33,960 Speaker 1: It feels like one of those things we talked about 524 00:24:34,000 --> 00:24:35,480 Speaker 1: how you have power over it and how your own 525 00:24:35,520 --> 00:24:38,960 Speaker 1: personal rate of inflation matters and how you can calculate that. 526 00:24:39,240 --> 00:24:41,080 Speaker 1: But at the same time, we have a lot of 527 00:24:41,160 --> 00:24:44,240 Speaker 1: power on our hands to comparison shop, to substitute things 528 00:24:44,240 --> 00:24:46,639 Speaker 1: that we were planning to buy and getting a different 529 00:24:46,720 --> 00:24:49,680 Speaker 1: ingredient instead. There are so many ways that we can 530 00:24:49,680 --> 00:24:53,560 Speaker 1: make inflation less harmful to our wallets. And it's easy 531 00:24:53,600 --> 00:24:55,840 Speaker 1: to start pointing fingers, but the better thing to do 532 00:24:55,920 --> 00:24:57,679 Speaker 1: is to point a finger at ourselves and be like, 533 00:24:57,800 --> 00:25:00,240 Speaker 1: what can I do to push back? Because yeah, there 534 00:25:00,280 --> 00:25:02,320 Speaker 1: are a lot of things that we can do as individuals, 535 00:25:02,400 --> 00:25:04,960 Speaker 1: And I love it. Let's talk about some financial literacy, dude. 536 00:25:05,000 --> 00:25:08,080 Speaker 1: Our home state here in Georgia is joining the ranks 537 00:25:08,280 --> 00:25:11,640 Speaker 1: of states that require a personal finance class in order 538 00:25:11,680 --> 00:25:15,560 Speaker 1: to graduate. This increased personal finance education will actually be 539 00:25:15,680 --> 00:25:18,600 Speaker 1: a big part of the economics class that kids are 540 00:25:18,640 --> 00:25:21,040 Speaker 1: already taking in high school, and so starting in the 541 00:25:22,720 --> 00:25:25,720 Speaker 1: school year, all high schoolers will be learning more about budgets, 542 00:25:25,960 --> 00:25:28,800 Speaker 1: credit I D, theft, UH, taxes, all the things that 543 00:25:28,840 --> 00:25:31,280 Speaker 1: we like to talk about here on our show. UH. 544 00:25:31,280 --> 00:25:33,920 Speaker 1: And this is great news because you know, learning the 545 00:25:33,960 --> 00:25:37,400 Speaker 1: basics of personal finance early on can save a lot 546 00:25:37,440 --> 00:25:39,800 Speaker 1: of heartache down the road. But we also hope that 547 00:25:39,880 --> 00:25:42,880 Speaker 1: creativity is prioritized and how this material is taught because 548 00:25:42,920 --> 00:25:45,400 Speaker 1: it's you know, it's easy to bore folks, especially teenagers 549 00:25:45,400 --> 00:25:49,520 Speaker 1: when you're discussing money. Making it fun makes an enormous difference. 550 00:25:49,600 --> 00:25:51,359 Speaker 1: This is a part of this is what we've strived 551 00:25:51,359 --> 00:25:53,119 Speaker 1: to do here on on our show is how can 552 00:25:53,160 --> 00:25:56,040 Speaker 1: we make something that is typically super dry topics that 553 00:25:56,080 --> 00:25:58,040 Speaker 1: you normally don't want to hear about. How do we 554 00:25:58,080 --> 00:26:00,119 Speaker 1: make those things something that's a little more attractive, a 555 00:26:00,160 --> 00:26:02,480 Speaker 1: little more palatable. That right, there has been a big 556 00:26:02,560 --> 00:26:04,600 Speaker 1: driving force behind the mission of our show. Let's talk 557 00:26:04,640 --> 00:26:07,240 Speaker 1: about these topics in a way that is engaging and 558 00:26:07,280 --> 00:26:10,000 Speaker 1: interesting and that seems relevant. And I hope that that 559 00:26:10,119 --> 00:26:13,000 Speaker 1: is something that teachers here in our home state are 560 00:26:13,040 --> 00:26:14,800 Speaker 1: able to take to heart. Yeah. I feel like most 561 00:26:14,800 --> 00:26:17,399 Speaker 1: people when you start talking about personal finance, they plug 562 00:26:17,440 --> 00:26:20,639 Speaker 1: their ears, they run away screaming that kind of stuff. 563 00:26:20,840 --> 00:26:23,639 Speaker 1: And yeah, we want to make it palatable, interesting, maybe 564 00:26:23,720 --> 00:26:26,760 Speaker 1: even energizing, because it is one of those things where 565 00:26:27,119 --> 00:26:29,760 Speaker 1: if we don't learn how to think about and handle 566 00:26:29,760 --> 00:26:32,800 Speaker 1: our personal finances, well, that lack of knowledge is going 567 00:26:32,840 --> 00:26:34,800 Speaker 1: to play us. It's gonna be like in anvil around 568 00:26:34,840 --> 00:26:36,960 Speaker 1: our wallets or our purses, like as we can go 569 00:26:37,040 --> 00:26:40,800 Speaker 1: through this world, kind of like what Jacob Marley in 570 00:26:40,800 --> 00:26:44,800 Speaker 1: in the Christmas story Christmas Chains. Yeah, that's like what 571 00:26:44,840 --> 00:26:46,399 Speaker 1: it feels like if if you don't know how to 572 00:26:46,440 --> 00:26:48,800 Speaker 1: handle personal finance as well. And so, not only are 573 00:26:48,800 --> 00:26:50,880 Speaker 1: we glad that it's happening, but we hope that teachers 574 00:26:50,920 --> 00:26:53,719 Speaker 1: are encouraged to and and find ways to make it 575 00:26:53,760 --> 00:26:55,520 Speaker 1: relevant and fun and if there's any way we can 576 00:26:55,520 --> 00:26:57,560 Speaker 1: help reach out to us, of course at how the money, 577 00:26:57,960 --> 00:27:00,800 Speaker 1: But yeah, Matt, let's do this. One last reminder to 578 00:27:00,880 --> 00:27:03,760 Speaker 1: our listeners about the How the Money Cash giveaway giveaway. 579 00:27:03,960 --> 00:27:05,560 Speaker 1: All you gotta do is go follow How the Money 580 00:27:05,560 --> 00:27:09,080 Speaker 1: pod at on Instagram, tag two of your friends, leave 581 00:27:09,119 --> 00:27:11,320 Speaker 1: a comment about how you would use a hundred dollars 582 00:27:11,480 --> 00:27:13,560 Speaker 1: to do something good in your community. That's all it 583 00:27:13,600 --> 00:27:16,120 Speaker 1: takes to enter, and we will announce the winners on 584 00:27:16,280 --> 00:27:18,879 Speaker 1: this coming Wednesday's episode. That's right, man, and so that's 585 00:27:18,920 --> 00:27:21,040 Speaker 1: gonna be it for today's Friday flight. We hope everyone 586 00:27:21,080 --> 00:27:22,879 Speaker 1: has a great weekend. We'll see you back here on Monday, 587 00:27:23,080 --> 00:27:26,359 Speaker 1: and buddy, until next time, Best Friends Out, Best Friends Out.