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Speaker 1: Welcome to Head of Money. I'm Joel and I am Matt,

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Speaker 1: and today.

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Speaker 2: We're answering your listener questions.

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Speaker 1: That's right, buddy, we are answering some of the most

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Speaker 1: pressing questions that these listeners at least have for us

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Speaker 1: pertaining to their finances. But a listener he's wondering what

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Speaker 1: we should do about the credit card fees that a

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Speaker 1: lot of businesses are incurring that they are not only absorbing,

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Speaker 1: but sometimes passing along to us. Another listener is asking

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Speaker 1: a question about investing, but specifically we're going to talk

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Speaker 1: about the difference between just auto transfers versus automatic investing.

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Speaker 1: And then we've got another and he is wondering how

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Speaker 1: he can keep a bill that is currently collections from

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Speaker 1: impacting his credit reports. We're going to talk about that.

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Speaker 1: We've got a frugal er cheap as well. We've got

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Speaker 1: a lot of great topics to discuss today.

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Speaker 2: And the credit score is so important, right we talk

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Speaker 2: about here all the time. It is one of those

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Speaker 2: personal finance building blocks. Some people might say, you don't

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Speaker 2: need a credit credit score, but in modern society you do.

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Speaker 2: You got to play the game. We'll talk about that

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Speaker 2: in just a bit.

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Speaker 1: It signifies something about you. I don't know. Is it

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Speaker 1: like your blood pressure. Maybe it's like the equivalent of

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Speaker 1: or maybe your weight or something like that.

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Speaker 2: I don't know, BMI, I don't know. Yeah, says something

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Speaker 2: along with lines. Well, before we get to that health professionals.

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Speaker 2: I saw something the other day and it made me think,

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Speaker 2: wait a second, I've seen this before, and it was

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Speaker 2: an Airbnb star rating guide. And so certain Airbnb hosts

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Speaker 2: are apparently saying they're posting these on the fridge or

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Speaker 2: something when you.

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Speaker 1: Stay there, so at the Airbnb, at the AIRBBB.

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Speaker 2: And so what they're trying to do is push you

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Speaker 2: in the direction of leaving a five stars.

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Speaker 1: You're trying to guide and shepherd you into being like,

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Speaker 1: is it possible to leave seven stars? Right exactly.

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Speaker 2: So it's funny because when we stay in Orlando over

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Speaker 2: this past summer, I remember seeing almost this exact same

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Speaker 2: thing on the fridge there and it just made me

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Speaker 2: laugh because I was like, that's just silly. But apparently

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Speaker 2: this is happening all over the place, and so is.

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Speaker 1: It silly or is it smart? Because it's kind of

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Speaker 1: a it's an it's a I think It's depends on

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Speaker 1: how much of a sheep you are. I guess it

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Speaker 1: could be an effective strategy to help you as a

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Speaker 1: as a resident to say, Okay, no, I think most

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Speaker 1: people read this and they say that's ridiculous. So when

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Speaker 1: you read so, does it make you push back then

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Speaker 1: and you'd be like, forget you.

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Speaker 2: I want to leave a two star reviews. Well, I

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Speaker 2: don't want to do that just to be rude, like

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Speaker 2: just to be a jaff. But if the place sucks

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Speaker 2: and they're covering up for it by these like ridiculous

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Speaker 2: star ratings, then sorry, I'm not necessarily going to leave

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Speaker 2: you a review just because you weren't up to snuff

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Speaker 2: and the place we stayed wasn't really up to snuff

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Speaker 2: in some ways. Right, So but okay, let me remember you.

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Speaker 1: Saying that they only had like it was like play

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Speaker 1: settings at the table, but they only had like three

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Speaker 1: sets of silverware.

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Speaker 2: Yeah, something like literally had six forks or five forks

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Speaker 2: to a five bedroom house, which is crazy. But okay,

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Speaker 2: the star rating guy, if the five stars said is

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Speaker 2: like perfection doesn't exist, but we were happy. Four stars

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Speaker 2: means several issues need improvement. Three stars means major issues

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Speaker 2: need to be addressed. Two stars means this property should

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Speaker 2: not be listed. Really, if the property should not be listed,

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Speaker 2: If that's your takeaway, it probably shouldn't even be two stars. Sorry,

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Speaker 2: And one star is I left early it was terrible.

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Speaker 2: So yeah, it's again it's just this gentle nudge because

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Speaker 2: reviews are the currency in Airbnb.

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Speaker 1: But if you if you.

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Speaker 2: Want the good reviews, be a good host, right yeah,

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Speaker 2: And so what's the same thing with us, Like, if

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Speaker 2: we want people to leave five star reviews, give the

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Speaker 2: people helpful information and hopefully something entertaining to go along

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Speaker 2: with it.

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Speaker 1: I guess what we're speaking about here.

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Speaker 2: That's a plug for people's leave review.

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Speaker 1: Now, Well, all you've done, though, is to encourage people

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Speaker 1: to leave a brutally all those reviews. So I think

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Speaker 1: he kind of just did the opposite. All crap. Maybe

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Speaker 1: what you're going for, I mean, what has gone on

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Speaker 1: in our society I think is like what this is

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Speaker 1: speaking to is rating inflation. And you see it as

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Speaker 1: well when it comes to things like uber or lyft, right, like,

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Speaker 1: have you ever seen a well, I guess they pull

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Speaker 1: them right if it's blow four point six or something. Yeah,

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Speaker 1: Like literally everybody has the four point six or higher

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Speaker 1: and it sucks. It's it's rating inflation. And what has

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Speaker 1: happened is instead of having the running the full gamut

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Speaker 1: of between one and five stars, truly, they've condensed it

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Speaker 1: to this tiny little sliver of all right, really, we're

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Speaker 1: only going to operate within this four and a half

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Speaker 1: to five star range because anything beyond that is just

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Speaker 1: absolutely terrible. Yeah, which I hate. I really don't like

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Speaker 1: the fact that we don't like, we no longer have

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Speaker 1: the nuance in the space to be able to fall

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Speaker 1: somewhere within that range and to leave. So yeah, just

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Speaker 1: leave some honesty, Yeah, honest, exactly.

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Speaker 2: You know, it makes me think you show up and

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Speaker 2: there's no roof, no toilet, and they're like, but at

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Speaker 2: least give us three stars. You know, That's It's kind

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Speaker 2: of the vibe I get from that stuff.

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Speaker 1: Here's the question, then, do you participate in rating inflation

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Speaker 1: or I guess maybe for instance, like on a lyft

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Speaker 1: or an uber, do you ever leave a four or

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Speaker 1: a three or sure forbid two?

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Speaker 2: Sometimes but usually I don't know if I've ever left

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Speaker 2: a three on an uber just because I've never had

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Speaker 2: a really bad experience.

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Speaker 1: Okay I have.

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Speaker 2: Okay, I think maybe one time when my daughter was

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Speaker 2: in the car with me and the guy drove a

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Speaker 2: little crazy, I think I left three.

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Speaker 1: But okay, that's what that's exactly like, I'll leave. So

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Speaker 1: for me, dude, my pet peeve is cars that smell terrible. Okay,

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Speaker 1: I mean, like if they smell like weed or something

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Speaker 1: like that, and then on top of that, they've got

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Speaker 1: like eight pine trees hanging from their Dude, it's just overwhelming.

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Speaker 1: And you get out of there and you smell like

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Speaker 1: all of this, I mean it makes me nauseous, like

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Speaker 1: it'll give me a headache. But then speaking to what

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Speaker 1: you were just pointing out, like one time I was

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Speaker 1: with a driver and this driver was cutting people off

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Speaker 1: on the interstate. It's like they were oblivious to all

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Speaker 1: other cars, huh. And I truly felt that my life

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Speaker 1: was at risk. And if you don't leave some honest feedback,

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Speaker 1: and if you were just if it's just an attempt

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Speaker 1: to be nice, they're not gonna know better and they're

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Speaker 1: gonna think, oh, yeah, the way I drive is acceptable,

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Speaker 1: and truly somebody else might actually be bodily injured. And

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Speaker 1: same with the driver.

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Speaker 2: Can I just say we have an ability for you

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Speaker 2: to give us feedback here if you think we can

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Speaker 2: do better, how toomoney dot com slash do better. It's

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Speaker 2: literally a web page set up to receive constructive criticism.

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Speaker 2: We know we're not perfect, right, and so if there's

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Speaker 2: something you're like, hey, they really botched this in an episode,

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Speaker 2: or man, they could really do this better, we would

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Speaker 2: love to hear from you. So go there, send us

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Speaker 2: a note because it helps us improve. And you know what, Matt,

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Speaker 2: that's what it's all about. The review should hopefull lead

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Speaker 2: to improvement, right.

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Speaker 1: What only is like a two star three star review

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Speaker 1: and they're like, yeah, I just don't like Matt and Joel.

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Speaker 1: That's sort of like if you were to leave a

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Speaker 1: two or three star on an uber and be like, hey,

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Speaker 1: I don't like the color of that car.

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Speaker 2: I'm not everybody's cup of tea, you know.

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Speaker 1: So I get that, But I think if there is

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Speaker 1: doesn't mean what you're saying is incorrect, or it doesn't

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Speaker 1: mean that you're leading people astray. I feel like that's

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Speaker 1: what a tour's just unlikable.

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Speaker 2: Yeah, I just have a terrible personalities, what I mean,

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Speaker 2: which you know I can deal with that. All right,

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Speaker 2: Let's move on. Let's mention the beer we're having on

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Speaker 2: the show today. It's called walk on Water White by

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Speaker 2: Bold Monk Brewing. We'll give our thoughts on this beer

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Speaker 2: at the end of the episode, but we're going to

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Speaker 2: get to listener questions now and you can submit your

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Speaker 2: question for the show that we'd love to take it

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Speaker 2: on the next Askint of Money episode. Just got to

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Speaker 2: have the money dot com slash ask for the simple

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Speaker 2: instructions to record the voiceman on your phone, shoot it

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Speaker 2: over to us via email. And Matt, this first question

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Speaker 2: is a two fer. There's a frugal and cheap and

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Speaker 2: an investing question all up in one.

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Speaker 3: Hey, Matt and Joel, this is Joe from Fairfax. I

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Speaker 3: had a question about my fidelity roth Ira figured out

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Speaker 3: how to automatically contribute, but is there a way to

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Speaker 3: automatically have those contributions invested in the funds of my

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Speaker 3: choosing or do I have to log in and make

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Speaker 3: those purchases each time? I also had a frugal or

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Speaker 3: cheap I've had a bad car battery for about nine

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Speaker 3: months now, and I'd say about one in four times

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Speaker 3: I go to start my car, it won't start. But

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Speaker 3: I just haven't replaced it because I have this small

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Speaker 3: battery jump starter that works really quickly, and so I

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Speaker 3: just haven't gotten around to change the battery. I don't

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Speaker 3: know if this can cause any damage to the car

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Speaker 3: or anything like that. I'm just kind of lazy. Thanks

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Speaker 3: a lot.

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Speaker 1: Ooh okay, So Joe, do you have one of those

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Speaker 1: one of those like handheld They got a little battery

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Speaker 1: built into it allows you to jump start your car

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Speaker 1: wherever you want.

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Speaker 3: I do not.

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Speaker 2: It sounds like a smart thing to have on hand.

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Speaker 1: I think I should probably get one, especially, I mean,

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Speaker 1: considering we have one car, I don't really have the

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Speaker 1: ability to call up my wife or just be like, hey,

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Speaker 1: can you car battery die to get you know, swing

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Speaker 1: on by. I've got one of the car pumps, one

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Speaker 1: of the tire inflators. Oh those are nice. Those are

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Speaker 1: nice to have for sure. Yeah. Well, although it sounds

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Speaker 1: like this might be a crutch for Joe by the way,

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Speaker 1: this well, yeah, I mean, should we let's go ahead

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Speaker 1: and let's start with that address the yea, let's start

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Speaker 1: by talking about his car.

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Speaker 2: I think I would say this is cheap, not proogal.

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Speaker 2: Let's say, fix the battery right, and not because of

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Speaker 2: even the minor annoyance that the Joe's up against each

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Speaker 2: and every week, but because of the potential damage it

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Speaker 2: can have on other components.

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Speaker 1: Like they think it can have bigger downstreams.

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Speaker 2: I'm not a mechanic, so take this with a grain

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Speaker 2: of salt. This is not car talk. I have no

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Speaker 2: idea what I'm talking about.

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Speaker 1: But only we could be clicking? Was it click and clack?

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Speaker 3: Right?

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Speaker 1: Yeah?

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Speaker 2: It was classic show Man. But it's hard for me

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Speaker 2: to tell you exactly what's happening under the hood, like

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Speaker 2: what's if the battery is the bad battery is having

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Speaker 2: you know, other ramifications on other components of the car.

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Speaker 2: But I think this could be a cheap move that

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Speaker 2: could have negative ramifications, and it could leave you stranded

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Speaker 2: right in need of a toad that could cost just

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Speaker 2: as much as the new battery. So think about how

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Speaker 2: expensive a truck, yeah to get towed these days, depending

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Speaker 2: on how far you're going and stuff like that, you

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Speaker 2: could be two hundred dollars plus bill. A battery is

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Speaker 2: definitely less than that for most cars, So I don't know.

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Speaker 2: I think the frugal thing is to is.

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Speaker 1: To upgrade the battery well, and then not to mention

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Speaker 1: what if at some point he does get completely stranded

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Speaker 1: and the it's not just the cost that he's incurred

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Speaker 1: by having to have it replaced in an inconvenient location.

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Speaker 1: But just like your transportation is your livelihood, right, the

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Speaker 1: ability to get to work and make money, like if

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Speaker 1: your family is counting on you, and like I want

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Speaker 1: to make sure my our car are ride is totally

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Speaker 1: up to snuff. But Joe, if you maybe if you

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Speaker 1: want to try it and take the more frugal path,

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Speaker 1: next time you pop the hood, check and see if

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Speaker 1: you've got a loose connection. Oh now, this is turning

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Speaker 1: into cars you're diagnosing. So I'm only saying this because

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Speaker 1: I literally had this happen to me. So I'm speaking

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Speaker 1: from personal experience here, but I.

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Speaker 2: Can have this too. Sometimes there is corrosion on the

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Speaker 2: battery connect.

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Speaker 1: With us US Okay, That's what I'm getting out here.

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Speaker 1: The fact that it's inconsistent. I think this might be

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Speaker 1: a sign that like, depending on the number of potholes

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Speaker 1: Joe's been hitting while he drives, Like sometimes there's enough

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Speaker 1: of a contact for it's actually start up, but at

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Speaker 1: other times I think it's not going to cut it.

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Speaker 1: And so perhaps like maybe whoever installed your last battery

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Speaker 1: was like a high schooler and they didn't just crank

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Speaker 1: down on the battery cable ends enough for there to

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Speaker 1: be a nice contact. And so if that's the case,

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Speaker 1: then you might be able to avoid having to shell

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Speaker 1: all the money for a brand new battery. But that

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Speaker 1: being said, most auto part stores, most mechanics, like even

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Speaker 1: wherever it is you go to get your your oil changed,

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Speaker 1: I feel like they often check your car battery and

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Speaker 1: it says they've got like a little rating there. Well

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Speaker 1: they do it for free. But it's like it's a

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Speaker 1: little print out on the little receipt print out and

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Speaker 1: it's like battery check okay or whatever.

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Speaker 2: So well they will check that stuff for free. So

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Speaker 2: go to your advanced Toddle parts or your AutoZone, whatever

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Speaker 2: it's close by, let them check your battery and maybe

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Speaker 2: they'll like say, oh yeah, you can cable connections just bad.

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Speaker 2: But that's something that you can look at as well

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Speaker 2: on your own.

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Speaker 1: I will say, if there is corrosion like you mentioned,

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Speaker 1: that can definitely lead to that contact coming loose, but

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Speaker 1: oftentimes like a hard bristle brush to get that stuff

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Speaker 1: like a copper. It really is. Like, but if there

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Speaker 1: is corrosion, a lot of times that's a sign of

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Speaker 1: a bad battery because or other things going on. Yeah,

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Speaker 1: sometimes the battery gets overcharged and that leads to that croach.

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Speaker 2: Okay, so maybe we've stepped outside. Maybe we know more

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Speaker 2: about cars than we think that we realize.

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Speaker 1: Let's get to the real questions. Talk about it's investing.

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Speaker 2: Yes, all right, so there's there's definitely a way, Joe,

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Speaker 2: not only to have that amount automatically contributed to your

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Speaker 2: i RA, but also to purchase more shares of your

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Speaker 2: preferred fund. So I'm glad you asked the question, and

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Speaker 2: we'll link to the page that Fidelity has up on

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Speaker 2: their site which can help you navigate this. But it's

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Speaker 2: really simple actually. You know, basically, instead of just setting

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Speaker 2: up a recurring transfer, you're setting up an automatic investment.

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Speaker 2: So two words, two different things. One is kind of

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Speaker 2: transferring the money in and the other one is automatically

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Speaker 2: investing the money, which is the choice you want to make.

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Speaker 1: It might seem similar to your checking account or the

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Speaker 1: money's leading like in your mind, you're thinking, Oh, there

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Speaker 1: goes that money that's about to get invested, but in reality,

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Speaker 1: there's it's not it's just landing. It's not like invested.

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Speaker 2: Yeah, it's not doing the thing you wanted to do, right, So,

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Speaker 2: and this helps you avoid a big rookie mistake that

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Speaker 2: a lot of newbie investors make, which is getting money

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Speaker 2: in the account but not actually getting those dollars invested

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Speaker 2: in the appropriate funds. Matt, how many people have we heard,

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Speaker 2: Like I've been sicking money in a roth for years

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Speaker 2: and it turns out it's just sitting in the money

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Speaker 2: market fund, like, it's not.

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Speaker 1: Actually getting there in the sweep account buying shares.

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Speaker 2: Yeah, in like a total stock market fund or a

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Speaker 2: S and P five hundred fund something like that.

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Speaker 1: Yeah, I think Fidelity sweep account or money market account.

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Speaker 1: I think it's called like a cash core account or whatever.

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Speaker 1: But basically it's it's kind of like home base, yeah,

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Speaker 1: for free money before you set it off along its

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Speaker 1: investing journey.

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Speaker 2: And most time of money listeners don't really want any

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Speaker 2: money in that particular. You want it invested in funds

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Speaker 2: right exact. And so the longer that happens, the more

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Speaker 2: likely you are to miss out on the larger returns

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Speaker 2: that the stock market offers, missing out on potential years

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Speaker 2: of compounding. So it's really important to make sure you're

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Speaker 2: going the automatic investment route, not just the recurring transfer route.

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Speaker 1: Yeah, and specifically with Fidelity, you can set up the

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Speaker 1: auto invest not only for roth IRA but for other accounts.

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Speaker 1: Is what like five twenty nine HSA's brokerage accounts as well.

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Speaker 1: It doesn't it's not necessarily just for roth iras. But

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Speaker 1: I mean that being said, there are there might be

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Speaker 1: some folks and they're thinking, well, it's actually not that

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Speaker 1: bad that money market account. It's the sweep accounts that

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Speaker 1: I've got my with with whatever brokeridge you have it

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Speaker 1: set up with, it's paying more than it used.

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Speaker 2: To, better than it's been in a long while.

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Speaker 1: But even still, you want to make sure that you

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Speaker 1: are set up with a target date fund or an

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Speaker 1: index fund that's for the entire market, or the S

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Speaker 1: and PF I found five hundred, and I want to

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Speaker 1: call out specifically the Fidelity zero Total Stock Market Fund

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Speaker 1: that it's a f Z ROCKS. But this is a

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Speaker 1: great choice at ROCKS for younger investors who are in

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Speaker 1: the wealth building phase of their life. And the reason

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Speaker 1: is because it literally comes with a zero expense ratio.

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Speaker 1: It's completely free, and those expenses really do add up.

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Speaker 1: They eat into your returns over the years, and most investors,

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Speaker 1: they just don't realize how much of a negative impact

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Speaker 1: that those fees are going to have on that retirement

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Speaker 1: nest egg. You think, oh, it's just.

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Speaker 2: It's half a percent, How bad could that be?

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Speaker 1: And especially I feel like it's a generational thing too,

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Speaker 1: because as we talk oftentimes with our parents, they're a

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Speaker 1: lot I mean, it used to cost a lot more

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Speaker 1: money to invest. Instead they're thinking, dang back in the day,

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Speaker 1: like I was paying one percent, you're only paying point

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Speaker 1: seven okay, point six point five. That's a deal. I'm

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Speaker 1: proud of you. You're you're doing things right. But it

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Speaker 1: doesn't you can get the cost down even lower than

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Speaker 1: those fees that are closer to one percent.

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Speaker 2: Yeah, so we don't want you to pay one percent.

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Speaker 2: We don't want you pay in a half percent. We

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Speaker 2: want you to be paying like a whole lot less

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Speaker 2: than that even, right, and yeah free or one hundredth

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Speaker 2: yeah a percent. Well, and that's what's cool about FC

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Speaker 2: Rocks is that it literally doesn't have any expense ratio,

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Speaker 2: and so all of your money that you invest is

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Speaker 2: going to work for you. I love when when Fideli

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Speaker 2: launchows I was so pumped, and they've done a great

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Speaker 2: job like continuing to keep those around. And if you

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Speaker 2: want to get fancy, let's say an opt for Fidelis

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Speaker 2: S and P five hundred fund instead, which is f

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Speaker 2: x ai.

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Speaker 1: X it's I'm investment in that. Actually, are you okay?

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Speaker 1: Through our So we have a solo for one k

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Speaker 1: set up here through how to Money. It's actually poorn

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Speaker 1: Up Poor LLC. That's our true company, true company name.

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Speaker 1: But yeah, that's that's the SMP of one hundred fund

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Speaker 1: that we have access too.

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Speaker 2: Well, you're not going to be paying all that much

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Speaker 2: even when you go if you offer that too, right,

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Speaker 2: it's not completely free like FC rocks is, but if

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Speaker 2: the expense ratio is minuscule at point zero one five,

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Speaker 2: so it's still ridiculously cheap. And you know, we recently

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Speaker 2: talked about Fidelity's target date funds and how most folks

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Speaker 2: will probably want to avoid those, not because we don't

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Speaker 2: like target date funds, but for some reason fidelities. Fees

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Speaker 2: on those funds are significantly higher than their peers than

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Speaker 2: Schwab and Vanguard those are they've got really low fees

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Speaker 2: on their target date funds. But Fidelity hasn't followed suits.

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Speaker 2: So while they're great when it comes to the SMP

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Speaker 2: fund and the total Star Market fund that they have

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Speaker 2: really low expens ort siows on, they're not so great

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Speaker 2: at the target date funds. We're talking point seven percent,

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Speaker 2: So that's that's too high in our opinion, and it's

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Speaker 2: ten x what Vanguard and Shraub are charging. So to

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Speaker 2: put it in perspective, were you to fully fund a

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Speaker 2: roth Ira at sixty five hundred dollars every year for

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Speaker 2: the next forty years, you're going to spend more than

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Speaker 2: two hundred and fifty k in fees. If you opted

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Speaker 2: for the target date fund through Fidelity, that is a

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Speaker 2: whole lot more. That's the same than zero in fees

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Speaker 2: if you do the the FC Rocks fund a.

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Speaker 1: Quarter million dollars. Yeah, that's it's mind blowing because like that, again,

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Speaker 1: when you look at it year to year, you're thinking, ah,

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Speaker 1: it's not that big of a deal, but the compounding

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Speaker 1: impact of those fees truly do add up. But Joe,

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Speaker 1: We've got additional questions that we're going to get to,

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Speaker 1: including a listener is wondering if she opted for too

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Speaker 1: much term life insurance. We'll get to her question, plus

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Speaker 1: others right after this.

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Speaker 2: All right, Matt, we're back. We got more questions to take.

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Speaker 2: Let's get to one from a listener who wants to

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Speaker 2: know about Oh Man, I missed a bill forgot to

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Speaker 2: pay it. Now it's in collections.

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Speaker 1: What do I do?

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Speaker 4: Hey, Matt Joel, this is Nick from Texas. I'm a

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Speaker 4: veteran and as such I use the VA because most

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Speaker 4: of the care I need isn't really urgent and the

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Speaker 4: copay is low. Unfortunately, there's also really no easy way

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Speaker 4: that I'm aware of, at least to check and see

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Speaker 4: what you owe them at any given time if you

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Speaker 4: lose track, and as a result, one of my bills

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Speaker 4: kind of got away from me and ended up going

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Speaker 4: into collections. Now it's only forty bucks, so I can

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Speaker 4: pay it very easily. But my concern here is my

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Speaker 4: credit score. I've been slowly rebuilding from some pretty bad

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Speaker 4: credit over the last few years, and I've come a

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Speaker 4: long way, but I you still have a way to go,

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Speaker 4: and again, I know it's only forty bucks, but I

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Speaker 4: want to make sure I make the move here that's

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Speaker 4: best for my credit score and report. So is my

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Speaker 4: best move just to pay the forty dollars as soon

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Speaker 4: as possible? Is it to call somebody and dispute something?

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Speaker 4: I'm not really sure what my options are here, let

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Speaker 4: alone what the best choice is, so any insight you

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Speaker 4: guys can give here would be fantastic. Also, on a

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Speaker 4: beer related note, I'm curious what y'all's thoughts are on

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Speaker 4: juicy IPAs. I've noticed you guys tend to like much

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Speaker 4: stronger beers than I do taste wise. I'm kind of

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Speaker 4: a Belgian white slash blonde guy, but I recently stumbled

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Speaker 4: onto a juicy IPA that I really enjoyed and would

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Speaker 4: love to share with you guys. But I also don't

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Speaker 4: want to subject you to a beer that you may

435
00:18:43,280 --> 00:18:45,719
Speaker 4: not be interested in. So no hard feelings if you're not,

436
00:18:45,760 --> 00:18:47,320
Speaker 4: But if you are, let me know and I will

437
00:18:47,320 --> 00:18:50,040
Speaker 4: send you a six pack your way asap. So thank

438
00:18:50,040 --> 00:18:53,399
Speaker 4: you guys for the constant stream of advice, encouragement, and optimism,

439
00:18:53,440 --> 00:18:54,560
Speaker 4: and keep up the great work.

440
00:18:55,040 --> 00:18:59,600
Speaker 1: Matt. He didn't mention our stellar car advice too. What

441
00:18:59,680 --> 00:19:00,480
Speaker 1: do you listen? Is back?

442
00:19:00,520 --> 00:19:03,879
Speaker 2: He will, He'll now know. Uh no, Well, Nick, we

443
00:19:03,880 --> 00:19:05,879
Speaker 2: appreciate you man, thank you for the kind words, and

444
00:19:05,920 --> 00:19:07,679
Speaker 2: thank you for your service as well. Oh yeah, and

445
00:19:07,680 --> 00:19:10,560
Speaker 2: for beer recommendations, we always we're always taking newer beer,

446
00:19:10,560 --> 00:19:12,399
Speaker 2: Rex doing a lot of great stuff we like. We

447
00:19:12,440 --> 00:19:14,320
Speaker 2: definitely like juicy ip as. I feel like it's it's

448
00:19:14,320 --> 00:19:18,240
Speaker 2: probably one of our our favorite beer genres. Yeah beer styles.

449
00:19:18,560 --> 00:19:22,040
Speaker 1: Yeah, well so juicy ip as. Are you talking about

450
00:19:22,080 --> 00:19:24,080
Speaker 1: hazy like hazey New Englands. Yeah, A lot of times

451
00:19:24,119 --> 00:19:27,400
Speaker 1: those aren't necessarily referred to as as juicy. I think

452
00:19:27,400 --> 00:19:30,240
Speaker 1: that's my favorite style of hazy idea for sure. But juice,

453
00:19:30,480 --> 00:19:32,400
Speaker 1: like the juicy ones that are super trop have.

454
00:19:32,359 --> 00:19:35,480
Speaker 2: All the tropicals a little too perfume me for me

455
00:19:35,600 --> 00:19:37,360
Speaker 2: at times, like some of the some of the ones

456
00:19:37,359 --> 00:19:38,840
Speaker 2: that have too many fruit notes going on.

457
00:19:38,960 --> 00:19:40,400
Speaker 1: Yeah, yeah, you don't want it to have you don't

458
00:19:40,400 --> 00:19:41,960
Speaker 1: want it to taste like mango. I wanted to taste

459
00:19:41,960 --> 00:19:44,240
Speaker 1: like raw hops. That's what I'm into.

460
00:19:44,320 --> 00:19:46,640
Speaker 2: Straight from New Zealand or yeah, wherever those hops coming from.

461
00:19:46,640 --> 00:19:49,199
Speaker 2: They make some down Under they have some they have

462
00:19:49,200 --> 00:19:50,840
Speaker 2: some of the best hops Australian New Zealand hops.

463
00:19:50,880 --> 00:19:53,160
Speaker 1: One of these days, Yeah, on a tour a hop farm.

464
00:19:53,280 --> 00:19:56,200
Speaker 1: Let's make it happen. You see brewers, whether it's commercials

465
00:19:56,280 --> 00:19:57,840
Speaker 1: or even on social media, like some of the different

466
00:19:57,880 --> 00:19:59,440
Speaker 1: craft brewers, and they go and they get to visit

467
00:19:59,800 --> 00:20:02,360
Speaker 1: the for hot farms, mostly just because I think it's fun.

468
00:20:02,400 --> 00:20:04,200
Speaker 1: It's not like they're picking out their hops or anything,

469
00:20:04,600 --> 00:20:06,840
Speaker 1: you know, like you're just doing it to expense the trip.

470
00:20:06,920 --> 00:20:07,919
Speaker 1: That's that's exactly right.

471
00:20:08,320 --> 00:20:10,680
Speaker 2: They're like cool, I can and also to be able

472
00:20:10,680 --> 00:20:12,679
Speaker 2: to tell their significant other, Oh well I got to

473
00:20:12,720 --> 00:20:13,960
Speaker 2: do this for work for.

474
00:20:13,960 --> 00:20:15,320
Speaker 1: Work, Oh sure you do. And it's just like a

475
00:20:15,359 --> 00:20:18,240
Speaker 1: giant warehouse, you know, just hops on the ground. But

476
00:20:18,320 --> 00:20:21,159
Speaker 1: it literally looks like you could swim in the hops

477
00:20:21,200 --> 00:20:23,560
Speaker 1: because it's just there's it's like Screechman dug style.

478
00:20:23,920 --> 00:20:26,639
Speaker 2: That sounds nice. All right, Well, let's move on to

479
00:20:26,720 --> 00:20:28,480
Speaker 2: nix the the other part of the next question, the

480
00:20:28,520 --> 00:20:31,240
Speaker 2: main part, and Nick, we're sorry that happening, man, Like

481
00:20:31,280 --> 00:20:35,160
Speaker 2: it's it's incredibly frustrating to see an errant forty dollars

482
00:20:35,200 --> 00:20:38,440
Speaker 2: bill slap your credit score around like this, especially man,

483
00:20:38,440 --> 00:20:41,520
Speaker 2: when you've been super focused on making progress with your score.

484
00:20:41,680 --> 00:20:43,360
Speaker 2: We talk a lot about credit scores on the show

485
00:20:43,440 --> 00:20:45,800
Speaker 2: right how to navigate the system in order to increase

486
00:20:45,840 --> 00:20:48,639
Speaker 2: your score, because it's so impactful in the personal finance realm.

487
00:20:49,119 --> 00:20:50,960
Speaker 2: But I will also say that doesn't mean that we

488
00:20:51,000 --> 00:20:54,479
Speaker 2: think that the system is awesome, right, Like, Nope, This

489
00:20:54,560 --> 00:20:56,520
Speaker 2: kind of crap happens to folks all the time, and

490
00:20:56,560 --> 00:20:58,399
Speaker 2: even people with the best of intentions can have their

491
00:20:58,440 --> 00:21:00,880
Speaker 2: credit dinged or damage because has of be an accident

492
00:21:01,040 --> 00:21:04,200
Speaker 2: or error. So sorry, you fell victim to a system

493
00:21:04,240 --> 00:21:06,320
Speaker 2: that's just not necessarily set up to help people succeed.

494
00:21:06,400 --> 00:21:08,439
Speaker 1: Yeah, and by the way, I will say thank you

495
00:21:08,440 --> 00:21:09,800
Speaker 1: for the offer to send its beer and we will

496
00:21:09,840 --> 00:21:12,640
Speaker 1: reach out to you with our with our maily addressed,

497
00:21:12,680 --> 00:21:15,520
Speaker 1: we will always accept free beer. But speaking of errors,

498
00:21:15,760 --> 00:21:19,040
Speaker 1: something like one and four credit reports have an error

499
00:21:19,080 --> 00:21:21,720
Speaker 1: on them, and so whether or not you know that

500
00:21:21,760 --> 00:21:23,560
Speaker 1: you've made a mistake, it is actually a good idea

501
00:21:23,600 --> 00:21:26,560
Speaker 1: to pull your credit report, uh check them for accuracy.

502
00:21:26,600 --> 00:21:29,080
Speaker 1: And you can do that for free at one single

503
00:21:29,119 --> 00:21:32,840
Speaker 1: site where you pay nothing annual credit report dot com.

504
00:21:32,880 --> 00:21:34,560
Speaker 2: If someone tries to get you to pay for your

505
00:21:34,560 --> 00:21:36,040
Speaker 2: credit report to run away.

506
00:21:35,880 --> 00:21:36,399
Speaker 1: Don't do it.

507
00:21:36,560 --> 00:21:38,320
Speaker 2: The credit bureaus would love for you to go to

508
00:21:38,400 --> 00:21:40,400
Speaker 2: their site and to pay them money to get what

509
00:21:40,440 --> 00:21:44,160
Speaker 2: you have rightfully and legally, which you're obligated to for free.

510
00:21:43,960 --> 00:21:45,920
Speaker 1: So right and it's it's pay them and it's still

511
00:21:45,920 --> 00:21:48,399
Speaker 1: something you can do weekly as well it used to do.

512
00:21:48,800 --> 00:21:50,960
Speaker 1: It's such a change. That's why they called it annual

513
00:21:50,960 --> 00:21:53,320
Speaker 1: credit report. It was it used to only be once

514
00:21:53,440 --> 00:21:55,159
Speaker 1: a year from each of the three and so you

515
00:21:55,200 --> 00:21:58,679
Speaker 1: could schedule it for like do it in what January?

516
00:21:58,880 --> 00:22:01,239
Speaker 1: Do it? And man and then do it and like

517
00:22:01,400 --> 00:22:03,480
Speaker 1: I'll take different something like that, just to kind of

518
00:22:03,600 --> 00:22:05,600
Speaker 1: spread it out if you're wanting to be strategic about it.

519
00:22:05,600 --> 00:22:06,840
Speaker 1: But you know, you have to worry about it, and

520
00:22:06,880 --> 00:22:09,800
Speaker 1: I'll just go hog wild with their credit credit for

521
00:22:09,960 --> 00:22:14,679
Speaker 1: every Monday exactly. And by the way, now it's it's

522
00:22:14,680 --> 00:22:16,760
Speaker 1: probably a good time to mention too that there's a

523
00:22:16,880 --> 00:22:19,960
Speaker 1: law called the Fair Debt Collections and Practices Act, and

524
00:22:20,000 --> 00:22:23,440
Speaker 1: it's got pretty strict rules for debt collectors and about

525
00:22:23,480 --> 00:22:26,560
Speaker 1: how and when they can contact you. So, for instance,

526
00:22:26,560 --> 00:22:30,320
Speaker 1: they can only talk to you specifically about your specific debt.

527
00:22:30,359 --> 00:22:32,919
Speaker 1: They can't like call you at work, talk to your

528
00:22:32,920 --> 00:22:35,200
Speaker 1: boss and be like, you know what kind of dead beat,

529
00:22:36,200 --> 00:22:38,400
Speaker 1: no debt paying employee you have.

530
00:22:38,520 --> 00:22:40,439
Speaker 2: There's certain hours of the day there are allowed to

531
00:22:40,440 --> 00:22:42,119
Speaker 2: contact to you, right If they're calling you outside of

532
00:22:42,119 --> 00:22:44,520
Speaker 2: those hours, then you can be like scram or if

533
00:22:44,520 --> 00:22:46,480
Speaker 2: it's not your debt and they're calling you, you can say,

534
00:22:46,600 --> 00:22:48,800
Speaker 2: don't ever contact me again because this this is not

535
00:22:48,840 --> 00:22:50,879
Speaker 2: my debt. They have to offer proof that it's your

536
00:22:50,880 --> 00:22:52,160
Speaker 2: debt before they can contact.

537
00:22:51,960 --> 00:22:54,439
Speaker 1: Like a verbal cease and desist. Yeah. Yeah, but just

538
00:22:54,480 --> 00:22:57,000
Speaker 1: know your rights push back on them if they're going

539
00:22:57,040 --> 00:23:00,320
Speaker 1: overboard in their attempt to collect on this debt. Oh,

540
00:23:00,320 --> 00:23:02,160
Speaker 1: I wanted to mention too. We're kind of talking about

541
00:23:02,160 --> 00:23:05,280
Speaker 1: the number of errors, just pointing out how crappy these

542
00:23:05,280 --> 00:23:07,240
Speaker 1: different credit bureaus are. I was Kate and I were

543
00:23:07,240 --> 00:23:10,159
Speaker 1: at a ed Land United match recently, and of course

544
00:23:10,480 --> 00:23:12,840
Speaker 1: guess what flashes up there on the giant jumbo like

545
00:23:12,840 --> 00:23:15,000
Speaker 1: the halo board at the facts at the Mercedes SA

546
00:23:15,119 --> 00:23:20,120
Speaker 1: Spens Stadium. All the Equifax ads continually splashing up there.

547
00:23:20,240 --> 00:23:22,119
Speaker 1: And every time I saw that, I just kind of

548
00:23:22,200 --> 00:23:25,560
Speaker 1: rolled my eyes because I'm thinking to myself that you

549
00:23:25,560 --> 00:23:27,719
Speaker 1: can't get us to forget how you totally screwed up

550
00:23:27,880 --> 00:23:32,440
Speaker 1: and lost basically like half of Americans information like the

551
00:23:32,520 --> 00:23:34,840
Speaker 1: data breach twenty seventeen hundred and fifty million people fifty

552
00:23:35,000 --> 00:23:37,480
Speaker 1: We will never forget we're impacted. And so they can

553
00:23:37,520 --> 00:23:39,760
Speaker 1: try to spend and advertise their way out of this,

554
00:23:39,840 --> 00:23:40,880
Speaker 1: but we're not gonna let you.

555
00:23:40,880 --> 00:23:43,719
Speaker 2: You're not sweethearts. We will never forget. Yeah, No, it's

556
00:23:43,760 --> 00:23:46,400
Speaker 2: a it's a it's a problem. And like you said,

557
00:23:46,400 --> 00:23:48,359
Speaker 2: one and four credit reports have errors on them, and

558
00:23:48,400 --> 00:23:50,920
Speaker 2: so it's not even just that it's that they there

559
00:23:50,960 --> 00:23:54,280
Speaker 2: continue to be copious amounts of errors, and when individuals

560
00:23:54,320 --> 00:23:56,480
Speaker 2: reach out to try to get those errors corrected, oftentimes

561
00:23:56,600 --> 00:23:59,080
Speaker 2: the credit bureau is like covering their ears. La la la, la,

562
00:23:59,160 --> 00:24:00,440
Speaker 2: la la la, Like what do you talk talking about?

563
00:24:00,440 --> 00:24:02,400
Speaker 2: Like they're not responding in a timmy man or they're

564
00:24:02,440 --> 00:24:05,159
Speaker 2: not fixing the errors on credit reports either. All right,

565
00:24:05,200 --> 00:24:07,119
Speaker 2: but we're also talking about a forty dollars debt here, right,

566
00:24:07,359 --> 00:24:09,800
Speaker 2: And the key thing that Nick is going for here

567
00:24:10,119 --> 00:24:12,879
Speaker 2: isn't the ability to reduce how much he owes some folks.

568
00:24:13,040 --> 00:24:15,480
Speaker 2: They might want to negotiate with the debt collector and

569
00:24:15,600 --> 00:24:17,760
Speaker 2: in order to settle for a smaller payment amount. But

570
00:24:17,840 --> 00:24:19,480
Speaker 2: for you, Nick, it would be better to pay the

571
00:24:19,480 --> 00:24:22,320
Speaker 2: bill in full and negotiate for something else, right, negotiate

572
00:24:22,359 --> 00:24:24,480
Speaker 2: with the debt collector to keep this bill off your

573
00:24:24,520 --> 00:24:27,480
Speaker 2: credit report, which which is something you can do. That's

574
00:24:27,520 --> 00:24:30,200
Speaker 2: because this event will stand your credit report for seven

575
00:24:30,280 --> 00:24:32,560
Speaker 2: years to come, making it even more difficult for you

576
00:24:32,600 --> 00:24:34,639
Speaker 2: to raise your score, which is a big goal of yours, right,

577
00:24:34,720 --> 00:24:38,480
Speaker 2: especially especially for the first year or two. It damages

578
00:24:38,560 --> 00:24:40,240
Speaker 2: you the most, and so it's going to be harder

579
00:24:40,280 --> 00:24:42,480
Speaker 2: to make progress. In fact, it's going to feel like

580
00:24:42,520 --> 00:24:44,600
Speaker 2: you're backsliding a little bit. So make that your key

581
00:24:44,600 --> 00:24:47,120
Speaker 2: sticking point, right, and don't pay the bill until they

582
00:24:47,160 --> 00:24:50,040
Speaker 2: agree that payment in full will remin moving that mark

583
00:24:50,080 --> 00:24:50,360
Speaker 2: on your.

584
00:24:50,320 --> 00:24:52,720
Speaker 1: Credit report too. Yeah, that's right. And so the way

585
00:24:52,800 --> 00:24:54,880
Speaker 1: that you're able to do this is you basically tell

586
00:24:54,920 --> 00:24:56,640
Speaker 1: them that yes, you can, in fact pay the debt

587
00:24:56,640 --> 00:24:58,520
Speaker 1: in full today. I mean, come on, you know it's

588
00:24:58,520 --> 00:25:01,840
Speaker 1: only forty dollars after all, But you do want written

589
00:25:01,880 --> 00:25:04,960
Speaker 1: confirmation that they're not gonna report this debt to any

590
00:25:04,960 --> 00:25:06,800
Speaker 1: of the credit burors. It's up like they don't they

591
00:25:06,840 --> 00:25:08,840
Speaker 1: have the option to report that it's not something that

592
00:25:08,920 --> 00:25:12,400
Speaker 1: law requires them to do. And having this written down,

593
00:25:12,440 --> 00:25:14,399
Speaker 1: so whether it be an email or something that they

594
00:25:14,400 --> 00:25:17,359
Speaker 1: mail you, this is important because that person can verbally

595
00:25:17,440 --> 00:25:18,600
Speaker 1: just be like, yeah, sure we can do that. Of

596
00:25:18,640 --> 00:25:20,560
Speaker 1: course we'll do that for you, mane, and then just

597
00:25:20,600 --> 00:25:23,680
Speaker 1: not follow through because there are very few incentives for

598
00:25:23,720 --> 00:25:25,920
Speaker 1: them to actually do that. You want proof, and this

599
00:25:25,960 --> 00:25:28,560
Speaker 1: is going to be a win win for you and

600
00:25:28,920 --> 00:25:32,920
Speaker 1: the collections agency because often they're only able to collect

601
00:25:32,920 --> 00:25:34,920
Speaker 1: pennies on the dollar, right, and so for them getting

602
00:25:34,960 --> 00:25:37,520
Speaker 1: one hundred percent of what is owed to them, they're

603
00:25:37,520 --> 00:25:39,719
Speaker 1: gonna love that, like you are going to be this

604
00:25:39,880 --> 00:25:42,560
Speaker 1: all star person who's in collections. I don't know if

605
00:25:42,560 --> 00:25:45,560
Speaker 1: there's an a term for that. And then for you,

606
00:25:45,560 --> 00:25:47,480
Speaker 1: you know, forty bucks, it's a pretty small price to

607
00:25:47,480 --> 00:25:50,800
Speaker 1: pay in order to just completely scrub that negative mark.

608
00:25:51,480 --> 00:25:54,320
Speaker 1: And so the collector, they might say that you actually

609
00:25:54,320 --> 00:25:56,960
Speaker 1: have to talk to the original creditor, but the collection

610
00:25:57,000 --> 00:25:59,520
Speaker 1: agency should be able to give you their information, give you,

611
00:25:59,560 --> 00:26:02,040
Speaker 1: like the the right number to call to where you

612
00:26:02,040 --> 00:26:05,200
Speaker 1: can make that happen, but be honest, like actually call them,

613
00:26:05,400 --> 00:26:08,440
Speaker 1: explain your situation. Let them don't lie, obviously, but just

614
00:26:08,520 --> 00:26:11,040
Speaker 1: let them know how hard you've been working, how you've

615
00:26:11,080 --> 00:26:13,199
Speaker 1: gotten your finances around. It's like my credit score used

616
00:26:13,200 --> 00:26:14,760
Speaker 1: to be in the dumps. This is really important to me,

617
00:26:15,520 --> 00:26:18,040
Speaker 1: and I think just by being honest, this should not

618
00:26:18,119 --> 00:26:20,919
Speaker 1: be a difficult thing for you to accomplish. It's just

619
00:26:20,920 --> 00:26:23,240
Speaker 1: going to take maybe a few phone calls asking the

620
00:26:23,359 --> 00:26:26,040
Speaker 1: right questions so that you can make sure that you

621
00:26:26,040 --> 00:26:28,120
Speaker 1: get a favorable outcome that we want to make sure

622
00:26:28,160 --> 00:26:31,159
Speaker 1: that that and just moving forward to to just to

623
00:26:31,160 --> 00:26:33,359
Speaker 1: stay organized. I feel like medical bills are one of

624
00:26:33,400 --> 00:26:35,840
Speaker 1: those things like you mentioned, it's not just the VA.

625
00:26:36,240 --> 00:26:40,000
Speaker 1: Just you know, I'm talking from personal experience myself, not

626
00:26:40,080 --> 00:26:42,119
Speaker 1: being involved in the VA. It's difficult to keep up

627
00:26:42,160 --> 00:26:44,640
Speaker 1: with the different medical bills and so well, I guess

628
00:26:44,640 --> 00:26:47,359
Speaker 1: I'm thinking of too, like property taxes, whether it's like

629
00:26:47,520 --> 00:26:52,520
Speaker 1: insurance or county taxes or city taxes, and sometimes your

630
00:26:52,800 --> 00:26:55,480
Speaker 1: mortgage company they don't do a great jobs, Like sometimes

631
00:26:55,480 --> 00:26:57,919
Speaker 1: stuff falls through the crack, and so I keep a

632
00:26:57,960 --> 00:27:01,359
Speaker 1: document where I have the date the property and the

633
00:27:01,359 --> 00:27:03,440
Speaker 1: specific tax and when it is that the esco is

634
00:27:03,440 --> 00:27:06,040
Speaker 1: supposed to pay it. And then so I keep a

635
00:27:06,080 --> 00:27:09,280
Speaker 1: log where I've got all my data entry, my journal entries,

636
00:27:09,680 --> 00:27:11,240
Speaker 1: so I know what's going on. I'm able to refer

637
00:27:11,280 --> 00:27:12,840
Speaker 1: to that. But then I set a reminder on the

638
00:27:12,840 --> 00:27:14,960
Speaker 1: calendar just to make sure that that is being taken

639
00:27:15,000 --> 00:27:17,360
Speaker 1: care of as well. So maybe for you, Nick, that's

640
00:27:17,440 --> 00:27:21,280
Speaker 1: just something moving forward where taking a step towards organization

641
00:27:21,520 --> 00:27:23,240
Speaker 1: to ensure that you're staying on top of some of

642
00:27:23,240 --> 00:27:25,159
Speaker 1: these bills might be a way that you're able to

643
00:27:25,200 --> 00:27:26,120
Speaker 1: avoid this to begin.

644
00:27:25,960 --> 00:27:27,520
Speaker 2: With, Can I pay you to organize my life?

645
00:27:27,520 --> 00:27:31,560
Speaker 1: Matt? That'd be great. That's impressive. No, thank you, no,

646
00:27:31,680 --> 00:27:33,119
Speaker 1: but for real, mean, it's in my dropbox, so I

647
00:27:33,160 --> 00:27:35,120
Speaker 1: can access it from my phone, from the laptop, from

648
00:27:35,119 --> 00:27:37,760
Speaker 1: the iMac and it's called I think it's called a

649
00:27:37,880 --> 00:27:41,520
Speaker 1: property tax. That's just one that I just recently had

650
00:27:41,520 --> 00:27:43,160
Speaker 1: looked at, so it's fresh on the mind.

651
00:27:43,240 --> 00:27:45,360
Speaker 2: Yeah, no, that's cool. All right, let's get to our

652
00:27:45,359 --> 00:27:47,479
Speaker 2: next question. By the way, Nick, good luck. Let us

653
00:27:47,480 --> 00:27:50,240
Speaker 2: know how it goes. And this one comes from a

654
00:27:50,280 --> 00:27:53,680
Speaker 2: listener who's wondering if she overdid it on the insurance front,

655
00:27:53,680 --> 00:27:54,480
Speaker 2: did she get too much?

656
00:27:55,080 --> 00:27:57,720
Speaker 5: Hey, Matt and Joel, this is Mandy from Eugene, Oregon.

657
00:27:58,600 --> 00:28:01,000
Speaker 5: My husband and I recently rushed out the whole life

658
00:28:01,000 --> 00:28:04,040
Speaker 5: policies we had in favor of switching over to term

659
00:28:04,080 --> 00:28:07,639
Speaker 5: life policies. We each had one hundred thousand dollars in

660
00:28:07,680 --> 00:28:10,760
Speaker 5: coverage on those whole life policies, and now we've taken

661
00:28:10,800 --> 00:28:13,840
Speaker 5: out a million dollar policy for myself and a seven

662
00:28:13,920 --> 00:28:18,320
Speaker 5: hundred and fifty thousand dollars policy for my husband. Obviously,

663
00:28:18,400 --> 00:28:21,520
Speaker 5: this is a huge increase in coverage, but the amount

664
00:28:21,600 --> 00:28:24,919
Speaker 5: we're paying per month is still significantly less than what

665
00:28:24,960 --> 00:28:28,480
Speaker 5: we were spending on those whole life policies. My annual

666
00:28:28,520 --> 00:28:31,440
Speaker 5: salary is one hundred and twenty thousand per year, while

667
00:28:31,440 --> 00:28:34,880
Speaker 5: my husband makes about sixty thousand per year. We owe

668
00:28:34,880 --> 00:28:37,280
Speaker 5: about three hundred and ten thousand on our mortgage, and

669
00:28:37,400 --> 00:28:40,560
Speaker 5: that's really the only notable debt we have. We also

670
00:28:40,560 --> 00:28:42,640
Speaker 5: don't have any children at this point, but we are

671
00:28:42,720 --> 00:28:46,400
Speaker 5: starting to talk about our future family. Our broker encouraged

672
00:28:46,480 --> 00:28:49,600
Speaker 5: us to consider taking out about ten times our annual salary,

673
00:28:49,600 --> 00:28:52,280
Speaker 5: which is how we landed on those huge numbers. But

674
00:28:53,000 --> 00:28:56,640
Speaker 5: now I'm thinking we really overdid it. So I'm curious

675
00:28:56,680 --> 00:28:59,480
Speaker 5: to hear your thoughts. Should term life be based on

676
00:28:59,520 --> 00:29:02,560
Speaker 5: your outside standing debts or should it be based on

677
00:29:02,640 --> 00:29:04,800
Speaker 5: some multiplier of your annual income.

678
00:29:05,360 --> 00:29:09,120
Speaker 1: Thanks so much, all right, Maindy, she mentioned the massive

679
00:29:09,120 --> 00:29:12,880
Speaker 1: increase in coverage that she is now experiencing. That's the

680
00:29:12,920 --> 00:29:14,640
Speaker 1: beauty of term life insurance.

681
00:29:14,880 --> 00:29:17,960
Speaker 2: Today's a great day to die, you know. I mean,

682
00:29:17,960 --> 00:29:19,280
Speaker 2: your family's going to be well covered.

683
00:29:19,320 --> 00:29:22,160
Speaker 1: So what I'm saying, of course your husband, Yeah, just kidding.

684
00:29:23,520 --> 00:29:26,160
Speaker 1: You can get so much coverage for a whole lot

685
00:29:26,200 --> 00:29:28,320
Speaker 1: less money when you are looking at term life as

686
00:29:28,360 --> 00:29:30,640
Speaker 1: opposed to whole life. Then the goal is that by

687
00:29:30,640 --> 00:29:33,440
Speaker 1: the time that those policies expire, right, so after thirty years,

688
00:29:33,520 --> 00:29:35,880
Speaker 1: you actually no longer need those policies because you've been

689
00:29:35,880 --> 00:29:38,560
Speaker 1: able to save up a substantial nest egg. A good

690
00:29:38,600 --> 00:29:40,840
Speaker 1: way to think about these policies is think of them

691
00:29:40,880 --> 00:29:43,560
Speaker 1: as a bridge that gets you from now when you

692
00:29:43,600 --> 00:29:45,880
Speaker 1: aren't able to self insure two future years, when you

693
00:29:46,080 --> 00:29:48,400
Speaker 1: have had enough time to save up that nice retire

694
00:29:48,840 --> 00:29:51,600
Speaker 1: nest egg, when you are able to self insure, at

695
00:29:51,600 --> 00:29:53,560
Speaker 1: which point you no longer need these term life.

696
00:29:53,840 --> 00:29:55,360
Speaker 2: So thirty years from now you should be able to

697
00:29:55,720 --> 00:29:58,080
Speaker 2: do that. They'll be set and you won't have as

698
00:29:58,120 --> 00:30:02,240
Speaker 2: much of a need for insurance either. Because the eventual

699
00:30:02,320 --> 00:30:05,240
Speaker 2: children you're planning on having will be grown and hopefully

700
00:30:05,360 --> 00:30:06,040
Speaker 2: doing their own thing.

701
00:30:06,760 --> 00:30:08,800
Speaker 1: You won't have as much to cover, Yeah, unless you

702
00:30:08,840 --> 00:30:12,320
Speaker 1: wait fifteen sixteen years right to have kids, in which case, hey,

703
00:30:12,400 --> 00:30:12,800
Speaker 1: good for you.

704
00:30:12,920 --> 00:30:16,080
Speaker 2: Yeah, but but yeah, then you might need a smaller

705
00:30:16,360 --> 00:30:19,320
Speaker 2: who knows there's other options out that. Yes, but how

706
00:30:19,360 --> 00:30:21,320
Speaker 2: much do you need and did you overdo it? That's

707
00:30:21,360 --> 00:30:24,040
Speaker 2: kind of the heart of your question. The answer is maybe, right, Like,

708
00:30:24,280 --> 00:30:26,560
Speaker 2: the less debt you have and the more financial assets

709
00:30:26,560 --> 00:30:28,880
Speaker 2: you've built up means you don't need quite as large

710
00:30:28,880 --> 00:30:31,040
Speaker 2: of a term policy. That is true that the ten

711
00:30:31,240 --> 00:30:34,080
Speaker 2: X number is a rule of thumb. It's a helpful one,

712
00:30:34,440 --> 00:30:37,200
Speaker 2: but it's not perfect, because that's what rule of thumbs are.

713
00:30:37,400 --> 00:30:41,480
Speaker 2: They are guidance. They're not necessarily specifically applicable to every

714
00:30:41,480 --> 00:30:44,680
Speaker 2: single person in every situation. Not having kids, having very

715
00:30:44,680 --> 00:30:47,479
Speaker 2: little debt, it means you could certainly get by with

716
00:30:47,640 --> 00:30:50,840
Speaker 2: less coverage. But honestly, I wouldn't be too worried about

717
00:30:50,840 --> 00:30:54,480
Speaker 2: having overdone it. Right, Yeah, those policy amounts seem reasonable

718
00:30:54,760 --> 00:30:56,880
Speaker 2: giving your incomes and the fact that you're planning on

719
00:30:56,920 --> 00:30:59,360
Speaker 2: having kids at some point, you probably don't need quite

720
00:30:59,400 --> 00:31:02,640
Speaker 2: that much. Like, right, here in the immediate right now,

721
00:31:02,920 --> 00:31:05,479
Speaker 2: But you might also not have saved very much by

722
00:31:05,520 --> 00:31:08,120
Speaker 2: opting for a slightly smaller coverage amount right, Well, is

723
00:31:08,160 --> 00:31:10,400
Speaker 2: typically like fifteen bucks a month savings on a thirty

724
00:31:10,480 --> 00:31:13,080
Speaker 2: year policy for five hundred k versus a million in coverage,

725
00:31:13,120 --> 00:31:15,680
Speaker 2: And so I don't know, spending that extra fifteen bucks

726
00:31:15,720 --> 00:31:17,520
Speaker 2: a month knowing for double.

727
00:31:17,240 --> 00:31:19,680
Speaker 1: The coverage right kind of seems like a deal to me.

728
00:31:19,840 --> 00:31:23,160
Speaker 2: Knowing that your coverage needs will increase likely in the future,

729
00:31:23,440 --> 00:31:25,800
Speaker 2: that seems like a reasonable bet and not a bad

730
00:31:25,800 --> 00:31:26,560
Speaker 2: decision totally.

731
00:31:26,640 --> 00:31:28,840
Speaker 1: Yeah, Okay, So I was thinking about if she does

732
00:31:28,880 --> 00:31:31,520
Speaker 1: wait to have kids, like if she waits like fifteen, sixteen,

733
00:31:31,560 --> 00:31:33,840
Speaker 1: seventeen years or something like that, what do you do then,

734
00:31:33,960 --> 00:31:37,160
Speaker 1: because they've got that policy now, right, So theyve got

735
00:31:37,160 --> 00:31:38,800
Speaker 1: the thirty year policy and they're like, well, we're going

736
00:31:38,880 --> 00:31:40,920
Speaker 1: to have a fourteen year old by the time those

737
00:31:40,920 --> 00:31:43,560
Speaker 1: policies expire. Well, in that case, you can do what's

738
00:31:43,560 --> 00:31:47,280
Speaker 1: called laddering sometimes folks call it or layering as well.

739
00:31:47,720 --> 00:31:49,880
Speaker 1: But this is something you can do whether you are

740
00:31:49,920 --> 00:31:52,280
Speaker 1: looking to add more time to your coverage or if

741
00:31:52,280 --> 00:31:55,200
Speaker 1: you think that maybe you have too little coverage because

742
00:31:55,200 --> 00:31:57,240
Speaker 1: I think that's the boat that a lot of folks

743
00:31:57,320 --> 00:31:59,600
Speaker 1: find themselves in, is that they're realizing, oh man, we

744
00:31:59,640 --> 00:32:00,920
Speaker 1: actually we don't have enough.

745
00:32:01,040 --> 00:32:02,400
Speaker 2: Yeah, they took out like a two to fifty K

746
00:32:02,480 --> 00:32:04,600
Speaker 2: policy when they were twenty nine, and now they're like.

747
00:32:04,560 --> 00:32:06,600
Speaker 1: And it seemed like a ton of money, but in

748
00:32:06,640 --> 00:32:09,200
Speaker 1: reality they're realizing, oh man, that's not going to get

749
00:32:09,240 --> 00:32:11,640
Speaker 1: us very far out of all three kids and a mortgage

750
00:32:11,680 --> 00:32:14,240
Speaker 1: and bloody blah blah blah, and so they need more coverage. Yeah, yeah,

751
00:32:14,280 --> 00:32:15,920
Speaker 1: so you can always add a Just keep that in mind.

752
00:32:15,920 --> 00:32:18,160
Speaker 1: You can always add another policy into the mix as

753
00:32:18,240 --> 00:32:21,960
Speaker 1: your insurance needs change. And sometimes it's not necessarily that

754
00:32:22,000 --> 00:32:24,800
Speaker 1: the fundamentals have changed, right. It may not necessarily be

755
00:32:24,960 --> 00:32:27,200
Speaker 1: that you were saying, well, yeah, we used to live

756
00:32:27,240 --> 00:32:28,600
Speaker 1: in that tiny, little two to one and now we

757
00:32:28,640 --> 00:32:32,240
Speaker 1: live in that seven seven, seven thousand squ square feet.

758
00:32:32,480 --> 00:32:35,760
Speaker 1: It doesn't have to be these hard things that say, oh, well,

759
00:32:35,800 --> 00:32:37,920
Speaker 1: we now need to have more coverage. Sometimes it can

760
00:32:37,960 --> 00:32:40,000
Speaker 1: just be how it is that you're thinking about it.

761
00:32:40,040 --> 00:32:43,440
Speaker 1: You might say, okay, well I was assuming I was

762
00:32:43,440 --> 00:32:47,280
Speaker 1: going to work before, but now, like where that's to happen?

763
00:32:47,360 --> 00:32:48,720
Speaker 1: I don't think I would want to work. I think

764
00:32:49,040 --> 00:32:50,640
Speaker 1: maybe I'd want to be a full time stay at

765
00:32:50,680 --> 00:32:52,800
Speaker 1: home parent to make sure that nothing is falling through

766
00:32:52,840 --> 00:32:55,920
Speaker 1: the cracks with the kids. That means we're not just

767
00:32:55,960 --> 00:32:58,840
Speaker 1: losing one income, where we're looking at losing two incomes.

768
00:32:58,840 --> 00:33:02,400
Speaker 1: And so that could be something that causes you to think, oh, no, okay, shoot,

769
00:33:02,720 --> 00:33:05,280
Speaker 1: maybe we do actually want to ladder some additional coverage

770
00:33:05,280 --> 00:33:08,000
Speaker 1: onto that. It doesn't necessarily mean because now you have

771
00:33:08,040 --> 00:33:09,720
Speaker 1: a country club membership and you've got to be a

772
00:33:09,760 --> 00:33:12,280
Speaker 1: house or you go on all these fancy vications. Sometimes

773
00:33:12,320 --> 00:33:14,200
Speaker 1: it can just be more of a piece of mind

774
00:33:14,200 --> 00:33:15,520
Speaker 1: thing where you say, I just want to make sure

775
00:33:15,560 --> 00:33:18,600
Speaker 1: that we're completely covered, and I'm willing to pay for

776
00:33:18,640 --> 00:33:20,920
Speaker 1: that now month to month in order to ensure that

777
00:33:20,960 --> 00:33:21,480
Speaker 1: we're taken care of.

778
00:33:21,520 --> 00:33:24,680
Speaker 2: And especially when we're talking about, yeah, the price amounts

779
00:33:24,760 --> 00:33:28,000
Speaker 2: of term life insurance, it's really inexpensive for the kind

780
00:33:28,040 --> 00:33:30,000
Speaker 2: of coverage you're getting. And so I guess one last

781
00:33:30,000 --> 00:33:31,680
Speaker 2: thing we should tackle mat is whether or not there's

782
00:33:31,680 --> 00:33:33,640
Speaker 2: a better way to gauge how much coverage you need,

783
00:33:34,000 --> 00:33:36,160
Speaker 2: and there are other methods. I think it's worth pointing

784
00:33:36,160 --> 00:33:37,680
Speaker 2: that out, Like a lot of people do really just

785
00:33:37,680 --> 00:33:41,360
Speaker 2: go with the knee jerk ten x your annual income.

786
00:33:41,600 --> 00:33:43,280
Speaker 2: That's kind of how you figure out how much coverage

787
00:33:43,320 --> 00:33:45,479
Speaker 2: you need. Well, there's also something called the dime method,

788
00:33:45,760 --> 00:33:48,360
Speaker 2: which is more of an attempt to only secure minimal

789
00:33:48,360 --> 00:33:51,360
Speaker 2: coverage in the case of an untimely death of a spouse. Right,

790
00:33:51,600 --> 00:33:54,000
Speaker 2: it's all about covering debts, education, and income until your

791
00:33:54,080 --> 00:33:55,200
Speaker 2: kids reach the age of eighteen.

792
00:33:55,480 --> 00:34:00,479
Speaker 1: So if you were to use or specifically debts, income, mortgage, mortgage,

793
00:34:00,600 --> 00:34:02,280
Speaker 1: there's the in there.

794
00:34:02,320 --> 00:34:05,160
Speaker 2: So when you look at Mandy with where she's at

795
00:34:05,200 --> 00:34:08,200
Speaker 2: with that no current kids, right, and just the mortgage

796
00:34:08,320 --> 00:34:10,759
Speaker 2: is the only that's the only debt, no other no

797
00:34:11,200 --> 00:34:15,319
Speaker 2: d in there. So really you're you're talking about, Yeah,

798
00:34:15,360 --> 00:34:18,360
Speaker 2: given that sort of calculation, she needs a whole lot less.

799
00:34:18,400 --> 00:34:20,080
Speaker 1: She's going with a iin method.

800
00:34:20,719 --> 00:34:23,440
Speaker 2: Yeah, So I think it's I think it's important to

801
00:34:23,480 --> 00:34:25,680
Speaker 2: mention that there are other ways to calculate it, and

802
00:34:25,800 --> 00:34:28,080
Speaker 2: especially yeah, if money is tighter. But you're like, we

803
00:34:28,120 --> 00:34:31,720
Speaker 2: need some coverage, but we can't necessarily afford the Lexus coverage.

804
00:34:31,800 --> 00:34:32,560
Speaker 1: Yet I get that.

805
00:34:32,600 --> 00:34:35,120
Speaker 2: I mean I remember working in radio and it's like, man,

806
00:34:35,280 --> 00:34:37,240
Speaker 2: then come I knew I needed I knew I needed

807
00:34:37,280 --> 00:34:40,480
Speaker 2: something above of the workplace plan, but it's also not

808
00:34:40,560 --> 00:34:43,240
Speaker 2: like I was balling out and ready for the million

809
00:34:43,280 --> 00:34:45,600
Speaker 2: dollar policy yet. And that's where laddering can come in

810
00:34:45,640 --> 00:34:47,520
Speaker 2: handy too. It's like, cool, I'll get the two hundred

811
00:34:47,520 --> 00:34:49,279
Speaker 2: and fifty kight policy for the time being, but maybe

812
00:34:49,280 --> 00:34:51,279
Speaker 2: five years from now, eight years from now, I can

813
00:34:51,320 --> 00:34:53,320
Speaker 2: afford to add on the million dollar policy that I

814
00:34:53,360 --> 00:34:53,960
Speaker 2: know I really need.

815
00:34:54,120 --> 00:34:56,240
Speaker 1: Very nice, that's right, And if you want to really

816
00:34:56,320 --> 00:34:58,400
Speaker 1: drill down and get specific with it, policy genius. They

817
00:34:58,440 --> 00:35:00,919
Speaker 1: actually have a really good calculator that you can check out.

818
00:35:01,520 --> 00:35:03,759
Speaker 1: And of course, you know they obviously want you to

819
00:35:03,760 --> 00:35:05,960
Speaker 1: buy a policy on their site, but you can use

820
00:35:06,000 --> 00:35:08,200
Speaker 1: their calculator to just to get a specific idea for

821
00:35:08,239 --> 00:35:11,799
Speaker 1: how much coverage you should have, regardless of where you

822
00:35:11,800 --> 00:35:14,239
Speaker 1: actually end up buying your coverage. And even still this,

823
00:35:14,400 --> 00:35:17,520
Speaker 1: I mean, the calculator there, it's not perfect, but they're

824
00:35:17,520 --> 00:35:20,080
Speaker 1: going to take into account some of the different other

825
00:35:20,320 --> 00:35:23,200
Speaker 1: considerations like kids or in the age of your kids,

826
00:35:23,560 --> 00:35:26,719
Speaker 1: but then your savings, your age, income, things like that.

827
00:35:27,080 --> 00:35:29,399
Speaker 1: My guess is that actually, if you plug in the numbers,

828
00:35:29,400 --> 00:35:31,080
Speaker 1: you're actually going to find that the coverage that you

829
00:35:31,200 --> 00:35:32,880
Speaker 1: chose is actually going to be correct. It's going to

830
00:35:32,880 --> 00:35:35,160
Speaker 1: be the one that they recommend for you. But you know, again,

831
00:35:35,200 --> 00:35:37,319
Speaker 1: it's worth taking a look. But it's kind of the

832
00:35:37,320 --> 00:35:39,640
Speaker 1: thing again, just like you said, Joel, it's I don't

833
00:35:39,640 --> 00:35:42,080
Speaker 1: think an extra fifteen dollars is going to break the

834
00:35:42,080 --> 00:35:45,200
Speaker 1: bank for somebody, right, like to potentially get an additional

835
00:35:45,200 --> 00:35:47,719
Speaker 1: five hundred thousand dollars of coverage. But if you are

836
00:35:47,719 --> 00:35:51,200
Speaker 1: in a tighter financial position and you need every single

837
00:35:51,239 --> 00:35:54,920
Speaker 1: dollar to sing, like every dollar needs to shine, then

838
00:35:55,120 --> 00:35:57,480
Speaker 1: that you can absolutely get more detailed with it. And

839
00:35:57,520 --> 00:35:59,279
Speaker 1: it's always something that you can add more to later

840
00:35:59,280 --> 00:36:02,839
Speaker 1: down the road. It's not like a once and one

841
00:36:02,880 --> 00:36:05,640
Speaker 1: and done kind of approach. You can certainly revisit the

842
00:36:05,680 --> 00:36:06,359
Speaker 1: seatless question.

843
00:36:06,360 --> 00:36:08,480
Speaker 2: The only risk you're leaving on the table though, is

844
00:36:08,560 --> 00:36:12,680
Speaker 2: potential adverse health things popping up and that raising your

845
00:36:12,719 --> 00:36:15,719
Speaker 2: cost of to ensure yourself in the future. And so yeah,

846
00:36:15,760 --> 00:36:19,200
Speaker 2: if you it could be cheap not frugal, depending right.

847
00:36:19,080 --> 00:36:21,319
Speaker 1: Like if you're like, if cancer comes on the scene, yeah,

848
00:36:21,320 --> 00:36:23,719
Speaker 1: that kind of like that is obviously certainly going to

849
00:36:23,760 --> 00:36:26,280
Speaker 1: have an impact. Sure, but as far as the age

850
00:36:26,320 --> 00:36:28,799
Speaker 1: we've talked about, this before, but getting a little bit

851
00:36:28,840 --> 00:36:30,800
Speaker 1: like going from thirty five to forty five that actually

852
00:36:31,000 --> 00:36:34,000
Speaker 1: barely raises the price for you to wait a decade

853
00:36:34,320 --> 00:36:36,200
Speaker 1: before you decide to get a term life insurance.

854
00:36:36,600 --> 00:36:38,719
Speaker 2: So run the numbers, take a look, but also don't

855
00:36:38,760 --> 00:36:40,680
Speaker 2: be too worried that you bought too much term life insurance.

856
00:36:40,680 --> 00:36:42,840
Speaker 2: That's one of those embarrassment of riches sorts of questions,

857
00:36:42,840 --> 00:36:44,520
Speaker 2: like it's it's not that big of a deal if

858
00:36:44,520 --> 00:36:46,360
Speaker 2: you're spent an extra fifteen month and you've got a

859
00:36:46,400 --> 00:36:48,120
Speaker 2: little more coveras than you think you need and you'll

860
00:36:48,120 --> 00:36:48,840
Speaker 2: probably grow into the.

861
00:36:48,840 --> 00:36:50,759
Speaker 1: Coverage, so well, that's the thing I would keep. It's

862
00:36:50,800 --> 00:36:53,040
Speaker 1: not like it's not like you got ripped off and

863
00:36:53,400 --> 00:36:55,759
Speaker 1: it's a like there's a true benefit there. It's just

864
00:36:55,800 --> 00:36:57,160
Speaker 1: whether or not you think you might need it in

865
00:36:57,200 --> 00:37:00,000
Speaker 1: the city like where the situation to arise. It's not like, honestly,

866
00:37:00,000 --> 00:37:02,160
Speaker 1: I would feel differently about this if this was a

867
00:37:02,200 --> 00:37:05,000
Speaker 1: whole life policy where the broke like whoever it is

868
00:37:05,000 --> 00:37:06,680
Speaker 1: that you bought the policy from where they stay into

869
00:37:06,719 --> 00:37:09,520
Speaker 1: benefit because there are other incentives that are held there

870
00:37:09,520 --> 00:37:10,200
Speaker 1: in front of them.

871
00:37:10,040 --> 00:37:13,280
Speaker 2: But there's their commission goes up commentarally to the amount

872
00:37:13,320 --> 00:37:14,800
Speaker 2: of policy you buy exactly.

873
00:37:14,800 --> 00:37:17,520
Speaker 1: But in this case, we're talking about a level term policy,

874
00:37:17,640 --> 00:37:19,520
Speaker 1: and they didn't make any money off of that, and

875
00:37:19,560 --> 00:37:21,400
Speaker 1: so they were most likely trying to make sure that

876
00:37:21,440 --> 00:37:22,640
Speaker 1: you were just set for the.

877
00:37:22,560 --> 00:37:25,279
Speaker 2: Future for sure. All Right, well, Matt, we've got one

878
00:37:25,320 --> 00:37:27,760
Speaker 2: more question to get to. This one's about those pesky

879
00:37:27,800 --> 00:37:29,680
Speaker 2: credit card fees we've talked about recently on the show.

880
00:37:29,800 --> 00:37:31,239
Speaker 2: We'll get to that and more right after this.

881
00:37:40,840 --> 00:37:43,600
Speaker 1: We are back from the break in, like you related

882
00:37:43,640 --> 00:37:45,600
Speaker 1: to Joel, Let's talk about credit cards here for a minute,

883
00:37:45,640 --> 00:37:49,759
Speaker 1: because everyone knows that we are big proponents of using

884
00:37:49,760 --> 00:37:53,040
Speaker 1: credit cards. It's one of the personal finance tools that

885
00:37:53,080 --> 00:37:56,319
Speaker 1: we think folks could really wield in a way that

886
00:37:56,400 --> 00:37:58,680
Speaker 1: allows them to receive a ton of benefit.

887
00:37:59,040 --> 00:38:01,040
Speaker 2: We have some rules every time, right that we list

888
00:38:01,040 --> 00:38:03,680
Speaker 2: out specifically, never carry it like that's the number one.

889
00:38:03,760 --> 00:38:05,960
Speaker 2: That's that's the best rule, pan time, Never carry a balance,

890
00:38:06,000 --> 00:38:06,520
Speaker 2: never carry time.

891
00:38:07,320 --> 00:38:09,080
Speaker 1: But we are such fans of them that we actually

892
00:38:09,120 --> 00:38:11,080
Speaker 1: have a tool up on our website at how to

893
00:38:11,120 --> 00:38:14,160
Speaker 1: money dot com forward slash credit cards that allow you

894
00:38:14,320 --> 00:38:17,920
Speaker 1: to filter different cards based on the different benefits that

895
00:38:17,960 --> 00:38:19,719
Speaker 1: you are looking to receive. And so if that's not

896
00:38:19,800 --> 00:38:21,799
Speaker 1: something that you've checked out yet, because you might be.

897
00:38:22,200 --> 00:38:23,799
Speaker 1: This might be a way that you are sort of

898
00:38:24,200 --> 00:38:26,680
Speaker 1: underutilizing credit cards in your life. And you've got the

899
00:38:26,719 --> 00:38:28,919
Speaker 1: same card that you used maybe that you got while

900
00:38:28,960 --> 00:38:29,960
Speaker 1: when you were in college.

901
00:38:30,120 --> 00:38:32,840
Speaker 2: Ditch the inferior piece of plastic, get the superior version

902
00:38:32,920 --> 00:38:35,000
Speaker 2: exactly exactly. So we kind of makes me think of

903
00:38:35,000 --> 00:38:38,200
Speaker 2: our combo with Lynn Metler about traveling with families for free,

904
00:38:38,200 --> 00:38:40,520
Speaker 2: And it's like, if you follow some of the things

905
00:38:40,520 --> 00:38:42,640
Speaker 2: you talked about in that podcast, using the right credit

906
00:38:42,719 --> 00:38:44,759
Speaker 2: card that can get you a trip right and using

907
00:38:44,840 --> 00:38:46,879
Speaker 2: the wrong one can get you, you know, like one

908
00:38:46,880 --> 00:38:49,560
Speaker 2: percent back on your spend. So it just depends on

909
00:38:49,680 --> 00:38:51,959
Speaker 2: what you want from your credit card usage. But Matt,

910
00:38:52,000 --> 00:38:54,800
Speaker 2: let's get to the question on credit cards here specifically

911
00:38:54,840 --> 00:38:56,759
Speaker 2: that we want to get to. This was actually an

912
00:38:56,800 --> 00:38:59,759
Speaker 2: email question from listener Phil, and we figured it was

913
00:38:59,760 --> 00:39:02,200
Speaker 2: where sharing because there's probably a lot of other people

914
00:39:02,200 --> 00:39:02,760
Speaker 2: who wanted.

915
00:39:02,560 --> 00:39:03,000
Speaker 1: Do the same thing.

916
00:39:03,280 --> 00:39:05,280
Speaker 2: He said, I wanted to get your thoughts on credit

917
00:39:05,280 --> 00:39:08,440
Speaker 2: card processing fees for businesses. A friend of mine who

918
00:39:08,480 --> 00:39:11,560
Speaker 2: runs a small business mentioned how these fees are stifling

919
00:39:11,680 --> 00:39:14,719
Speaker 2: to small businesses and how they erode local economy's wealth

920
00:39:14,760 --> 00:39:18,000
Speaker 2: by sending about two percent to large financial institutions such

921
00:39:18,000 --> 00:39:21,480
Speaker 2: as Visa and MasterCard, rather than keeping the whole value

922
00:39:21,520 --> 00:39:23,600
Speaker 2: in the community. Right, So, like, let's say you spent

923
00:39:23,680 --> 00:39:26,319
Speaker 2: twenty bucks at an auto repair shop, Well, then that

924
00:39:26,360 --> 00:39:28,279
Speaker 2: twenty bucks can be used for a haircut, and then

925
00:39:28,280 --> 00:39:29,879
Speaker 2: the same twenty bucks can be used to buy food.

926
00:39:29,960 --> 00:39:30,440
Speaker 1: So forth.

927
00:39:30,719 --> 00:39:33,399
Speaker 2: If the same few transactions are reduced by credit card

928
00:39:33,480 --> 00:39:37,120
Speaker 2: merchant fees, the local community is reducing their wealth, even

929
00:39:37,120 --> 00:39:39,239
Speaker 2: though the businesses pay it. If they can, they can

930
00:39:39,280 --> 00:39:42,000
Speaker 2: either pass along the cost by raising prices or suffer

931
00:39:42,120 --> 00:39:45,160
Speaker 2: reduced earnings. While you encourage listeners to avoid interests in

932
00:39:45,200 --> 00:39:48,239
Speaker 2: fees as consumers, shouldn't we avoid using credit cards? I

933
00:39:48,280 --> 00:39:50,239
Speaker 2: get that it can be more convenient. Should we keep

934
00:39:50,239 --> 00:39:53,680
Speaker 2: sending large financial institutions money? He said full disclosure. I

935
00:39:53,760 --> 00:39:55,440
Speaker 2: have not cut up my credit cards.

936
00:39:55,280 --> 00:39:57,400
Speaker 1: Yet, but I think this is like I'm not off

937
00:39:57,400 --> 00:39:59,640
Speaker 1: the wagon yet. But I think these are all good questions.

938
00:40:00,120 --> 00:40:00,880
Speaker 1: These are great questions.

939
00:40:00,880 --> 00:40:03,040
Speaker 2: I think these are our questions worth asking. We have

940
00:40:03,080 --> 00:40:06,719
Speaker 2: talked about the two plus percent fee that visend MasterCard

941
00:40:06,960 --> 00:40:09,200
Speaker 2: that they pushed through to these businesses, and it's a

942
00:40:09,239 --> 00:40:12,600
Speaker 2: big cost of doing business for a lot of business,

943
00:40:12,640 --> 00:40:16,120
Speaker 2: in particular small businesses. It's an onerous it's an onerous

944
00:40:16,120 --> 00:40:16,759
Speaker 2: burden to bear.

945
00:40:17,160 --> 00:40:20,200
Speaker 1: Sure. Yeah, and again I will say I like that

946
00:40:20,320 --> 00:40:22,640
Speaker 1: he said that. Yes, it's it's more convenient, man, not

947
00:40:22,719 --> 00:40:26,600
Speaker 1: as convenient as pulling out the Apple wallet or Google wallet.

948
00:40:26,680 --> 00:40:30,839
Speaker 1: I have been using that like basically NonStop ever since.

949
00:40:30,920 --> 00:40:32,880
Speaker 1: I finally, because you just take a picture of the

950
00:40:32,880 --> 00:40:34,960
Speaker 1: card and it just I didn't realize it was that easy,

951
00:40:35,040 --> 00:40:37,680
Speaker 1: Like it automaticates me twelve seconds. Yeah, it really does.

952
00:40:37,719 --> 00:40:40,400
Speaker 1: And I guess the bank has to approve it and whatnot.

953
00:40:40,440 --> 00:40:43,239
Speaker 1: But well, I guess in Georgia here too, we've got

954
00:40:43,280 --> 00:40:47,080
Speaker 1: our light driver's license scand in there as well, which

955
00:40:47,120 --> 00:40:49,240
Speaker 1: is really nice. And so I feel like I barely

956
00:40:49,320 --> 00:40:52,840
Speaker 1: carry my wallet around with me anymore. But Phil, everything

957
00:40:52,840 --> 00:40:57,400
Speaker 1: that you're mentioning is essentially true. These transaction, these costs,

958
00:40:57,680 --> 00:41:00,000
Speaker 1: They've been in the headlines a whole lot more lately,

959
00:41:00,120 --> 00:41:02,680
Speaker 1: even talking about them a whole lot more. But personally,

960
00:41:02,960 --> 00:41:06,200
Speaker 1: I think I'm going to likely continue to use credit

961
00:41:06,239 --> 00:41:09,120
Speaker 1: cards basically until the rewards and the other benefits that

962
00:41:09,120 --> 00:41:13,720
Speaker 1: they're offering. No longer makes sense to me as an individual.

963
00:41:14,520 --> 00:41:16,640
Speaker 1: And I say individual because it's not really possible to

964
00:41:16,920 --> 00:41:21,040
Speaker 1: coordinate sort of collective action. Not that's by you changing

965
00:41:21,120 --> 00:41:22,920
Speaker 1: how it is that you are choosing to pay that

966
00:41:22,920 --> 00:41:26,840
Speaker 1: that is in turn going to It's difficult to coordinate

967
00:41:26,880 --> 00:41:29,839
Speaker 1: that with the millions of other Americans living here.

968
00:41:29,880 --> 00:41:31,600
Speaker 2: And the executive's a P S and Master card, not

969
00:41:31,719 --> 00:41:33,280
Speaker 2: like Phil cut up his credit cards.

970
00:41:34,600 --> 00:41:36,319
Speaker 1: How are we going to make it? Yeah, they are

971
00:41:36,520 --> 00:41:38,160
Speaker 1: not batting an eye lab. I mean, I don't know,

972
00:41:38,160 --> 00:41:39,799
Speaker 1: I don't know how much. Just feels racked. I don't know. Yeah,

973
00:41:39,880 --> 00:41:42,560
Speaker 1: maybe it feels maybe they will okay. So, like a

974
00:41:42,560 --> 00:41:45,200
Speaker 1: parallel example that this makes me think of might be

975
00:41:45,440 --> 00:41:49,839
Speaker 1: the quote unquote free grocery bags that the cashiers back

976
00:41:49,920 --> 00:41:52,520
Speaker 1: up your groceries, like at the traditional grocery stores. Right,

977
00:41:52,560 --> 00:41:55,000
Speaker 1: not at Aldi, but at a normal grocery store where

978
00:41:55,000 --> 00:41:57,520
Speaker 1: you go and it's like paper or plastic. And I

979
00:41:57,560 --> 00:42:00,440
Speaker 1: say free because it's not really free, right, Like the

980
00:42:00,800 --> 00:42:03,720
Speaker 1: cost of those bags are accounted for in the cost

981
00:42:03,840 --> 00:42:05,880
Speaker 1: of the groceries that you can buy there at the

982
00:42:05,880 --> 00:42:10,319
Speaker 1: grocery store. Now, an individual like perhaps Phil, you can

983
00:42:10,400 --> 00:42:13,000
Speaker 1: insist on bringing your own bag a lot of folks

984
00:42:13,080 --> 00:42:14,759
Speaker 1: do this. I think it's great we do the same thing,

985
00:42:15,080 --> 00:42:18,040
Speaker 1: but it's unlikely to have a material impact on the

986
00:42:18,080 --> 00:42:21,800
Speaker 1: price of the actual groceries, that is, until the rules

987
00:42:21,840 --> 00:42:24,960
Speaker 1: of the game change. And so, for instance, at Aldy,

988
00:42:25,600 --> 00:42:27,799
Speaker 1: the bags aren't free, right like, you've got to pay

989
00:42:27,800 --> 00:42:30,520
Speaker 1: for them, but by removing that cost at the top,

990
00:42:30,880 --> 00:42:34,000
Speaker 1: Aldy is able to offer some of the cheapest groceries around.

991
00:42:34,120 --> 00:42:36,400
Speaker 1: I mean, like in our personal experience, we've seen that

992
00:42:36,440 --> 00:42:39,560
Speaker 1: we've been able to save thirty percent compared to the

993
00:42:39,600 --> 00:42:43,120
Speaker 1: standard grocery store. And so in both the grocery bags

994
00:42:43,120 --> 00:42:46,120
Speaker 1: and the credit card fees examples, an individual can choose

995
00:42:46,200 --> 00:42:48,680
Speaker 1: to make a principal decision, and I think it's awesome.

996
00:42:48,719 --> 00:42:51,720
Speaker 1: Three cheers for autonomy and more power to you, Phil,

997
00:42:51,920 --> 00:42:53,759
Speaker 1: But I don't think it's likely going to make much

998
00:42:53,760 --> 00:42:57,560
Speaker 1: of a difference on pricing until there's either a change

999
00:42:57,560 --> 00:43:00,080
Speaker 1: at the top or until there's a competitor who is

1000
00:43:00,080 --> 00:43:04,560
Speaker 1: offering a different option. And some businesses actually are offering

1001
00:43:04,680 --> 00:43:09,040
Speaker 1: that alternate option right like where they're charging cash customers

1002
00:43:09,200 --> 00:43:11,040
Speaker 1: less as a way to pass on some of the

1003
00:43:11,080 --> 00:43:14,440
Speaker 1: savings directly to them. I think it's great that we

1004
00:43:14,520 --> 00:43:16,640
Speaker 1: get to choose, essentially as individuals out is that we

1005
00:43:16,640 --> 00:43:19,360
Speaker 1: want to lead our lives, whether that's based on a

1006
00:43:19,400 --> 00:43:22,480
Speaker 1: principal decision or what pragmatically makes the most sense. But

1007
00:43:22,480 --> 00:43:24,680
Speaker 1: that's what's so beautiful about the country that we live in.

1008
00:43:25,160 --> 00:43:27,279
Speaker 1: We have the option to make these decisions based on

1009
00:43:27,680 --> 00:43:29,080
Speaker 1: what we think is most important.

1010
00:43:29,120 --> 00:43:30,880
Speaker 2: And if the business says these credit card fees are

1011
00:43:30,880 --> 00:43:33,640
Speaker 2: eating me alive, they offer cash discounts and they're they're

1012
00:43:33,680 --> 00:43:37,200
Speaker 2: incentivizing you to pay via different method to kind of

1013
00:43:37,280 --> 00:43:39,120
Speaker 2: eliminate some of those fees on their behalf.

1014
00:43:39,280 --> 00:43:39,480
Speaker 1: Yep.

1015
00:43:39,520 --> 00:43:42,920
Speaker 2: Well, and it's I think the other thing that I

1016
00:43:43,000 --> 00:43:45,839
Speaker 2: wanted to mention for everyone's sake, but for Philled too,

1017
00:43:46,320 --> 00:43:47,920
Speaker 2: is that how much you can read from those credit

1018
00:43:47,920 --> 00:43:50,040
Speaker 2: card rewards. It certainly depends on how much you're spending,

1019
00:43:50,320 --> 00:43:53,040
Speaker 2: but it goes beyond just cash back just one or

1020
00:43:53,080 --> 00:43:56,719
Speaker 2: two percent, or even free flights. Right, the secondary benefits

1021
00:43:56,880 --> 00:43:59,439
Speaker 2: as well as the federal protections that credit cards offer,

1022
00:43:59,560 --> 00:44:01,440
Speaker 2: they push me in the credit card direction too.

1023
00:44:01,520 --> 00:44:01,640
Speaker 4: Right.

1024
00:44:01,840 --> 00:44:03,560
Speaker 2: We talked about some of that back in episode one

1025
00:44:03,640 --> 00:44:06,160
Speaker 2: forty nine when we compared cash to debit to credit

1026
00:44:06,360 --> 00:44:08,200
Speaker 2: and then in episode six eighty three. We talked about

1027
00:44:08,320 --> 00:44:10,360
Speaker 2: so many of the lesser known benefits as well, like

1028
00:44:10,400 --> 00:44:14,000
Speaker 2: when you used for travel, the unique benefits, yeah, always that.

1029
00:44:14,000 --> 00:44:16,359
Speaker 2: Surprisingly when you travel right, those cash back dollars are

1030
00:44:16,360 --> 00:44:18,200
Speaker 2: worth at least one point five x more. But then

1031
00:44:18,200 --> 00:44:19,800
Speaker 2: there's there's a whole lot more on top of that.

1032
00:44:19,840 --> 00:44:23,800
Speaker 2: There's cell phone insurance that basically you drop and smash

1033
00:44:23,800 --> 00:44:25,919
Speaker 2: your phone, Well, if you pay your cell phone built

1034
00:44:25,920 --> 00:44:28,279
Speaker 2: with the right credit card, you're covered, and you pay

1035
00:44:28,280 --> 00:44:30,440
Speaker 2: a small deductible most of the time, and you get

1036
00:44:30,480 --> 00:44:33,640
Speaker 2: your phone replaced, you're all set. Yeah, And there's return

1037
00:44:33,680 --> 00:44:36,600
Speaker 2: protection for items returned within ninety days. There's free museum

1038
00:44:36,640 --> 00:44:40,680
Speaker 2: passes and concert tickets, perks like that. The secondary perks

1039
00:44:40,719 --> 00:44:42,680
Speaker 2: of credit cards, depending on which one you get, can

1040
00:44:42,719 --> 00:44:45,720
Speaker 2: run the gamut. There's free access to lounges at airports,

1041
00:44:45,760 --> 00:44:48,719
Speaker 2: all that kind of stuff. So don't forget all of

1042
00:44:48,760 --> 00:44:51,320
Speaker 2: those potential benefits of using your credit card, using the

1043
00:44:51,400 --> 00:44:53,760
Speaker 2: right card at the right time. Just keep in mind.

1044
00:44:53,800 --> 00:44:56,359
Speaker 2: A lot of folks though, let the rewards tail wag

1045
00:44:56,400 --> 00:44:58,920
Speaker 2: the dog. They get excited about the prospect of cash

1046
00:44:58,960 --> 00:45:01,279
Speaker 2: back and free lounge access or something like that, and

1047
00:45:01,320 --> 00:45:03,480
Speaker 2: then it causes them to rack up credit card debt

1048
00:45:03,520 --> 00:45:06,680
Speaker 2: that they can't pay off, putting them any worse financial situations.

1049
00:45:06,719 --> 00:45:08,279
Speaker 2: So don't let that happen to you. If you can't

1050
00:45:08,760 --> 00:45:10,680
Speaker 2: handle your credit card responsibily, we want you to put

1051
00:45:10,680 --> 00:45:12,319
Speaker 2: it down. We don't want you to use it at all.

1052
00:45:12,600 --> 00:45:15,400
Speaker 2: It'll end up being a losing proposition, and you'll continue

1053
00:45:15,400 --> 00:45:19,120
Speaker 2: the trend of sending large financial institutions your money rather

1054
00:45:19,160 --> 00:45:21,280
Speaker 2: than you reaching your own financial goals.

1055
00:45:21,320 --> 00:45:23,920
Speaker 1: So, which is what is what Phil's train to avoid

1056
00:45:24,440 --> 00:45:27,440
Speaker 1: in the first place, is keeping that wellth local as

1057
00:45:27,440 --> 00:45:29,440
Speaker 1: opposed to sending it to the big corporation.

1058
00:45:29,560 --> 00:45:33,160
Speaker 2: Get those that fee that gets assessed by the duopoly

1059
00:45:33,239 --> 00:45:36,000
Speaker 2: that is Visa and MasterCard. Yeah, it annoys me. And

1060
00:45:36,040 --> 00:45:38,400
Speaker 2: there's a new act that we discussed matth that is

1061
00:45:39,080 --> 00:45:40,960
Speaker 2: going through Congress right now, will go anywhere.

1062
00:45:40,960 --> 00:45:41,319
Speaker 1: We don't know.

1063
00:45:41,360 --> 00:45:43,439
Speaker 2: The credit Card Competition Act, I think, is what it's called.

1064
00:45:43,760 --> 00:45:47,280
Speaker 2: And it's supposed to introduce another player into or create

1065
00:45:47,840 --> 00:45:50,120
Speaker 2: an environment for more competition in that space to hopefully

1066
00:45:50,160 --> 00:45:52,880
Speaker 2: lower fees for merchants. And that would mean produced credit

1067
00:45:52,880 --> 00:45:55,160
Speaker 2: card rewards in all likelihood for all of us. And

1068
00:45:55,200 --> 00:45:57,080
Speaker 2: I'd be okay with that. I would I would be

1069
00:45:57,080 --> 00:45:58,879
Speaker 2: more than okay with that kind of We were talking

1070
00:45:58,880 --> 00:46:01,440
Speaker 2: about credit scores beginning, Matt and how the system is

1071
00:46:01,440 --> 00:46:03,040
Speaker 2: a little raw. It doesn't mean you opt out of

1072
00:46:03,040 --> 00:46:06,600
Speaker 2: the system altogether, and so I wish the system would improve,

1073
00:46:06,640 --> 00:46:08,840
Speaker 2: and I hope that this system improves too, But for

1074
00:46:08,880 --> 00:46:10,520
Speaker 2: the time being, I think you got to kind of

1075
00:46:10,560 --> 00:46:12,719
Speaker 2: play the game as it exists exactly.

1076
00:46:12,920 --> 00:46:14,880
Speaker 1: That's that's a nice little summation of how it is

1077
00:46:14,920 --> 00:46:17,560
Speaker 1: that we view credit cards. And because it's it's kind

1078
00:46:17,560 --> 00:46:19,880
Speaker 1: of a kind of a moral gray area as to

1079
00:46:20,080 --> 00:46:22,680
Speaker 1: the different benefits that the cards offer. But the fact is,

1080
00:46:22,719 --> 00:46:25,960
Speaker 1: folks are paying paying for those benefits, right, whether it

1081
00:46:26,000 --> 00:46:29,080
Speaker 1: be through interest charges or through the transaction kind of

1082
00:46:29,120 --> 00:46:30,600
Speaker 1: kees that are incurred by businesses.

1083
00:46:30,680 --> 00:46:32,359
Speaker 2: Kind of like you're paying for that grocery bag, even

1084
00:46:32,360 --> 00:46:34,360
Speaker 2: if you don't pay for the grocery bag, right.

1085
00:46:34,280 --> 00:46:36,560
Speaker 1: Exactly whether or not you use it or not. But

1086
00:46:37,080 --> 00:46:39,560
Speaker 1: except for you don't pay for it, exactly pay for it,

1087
00:46:39,600 --> 00:46:41,279
Speaker 1: which is I mentioned that because it's that's what's so

1088
00:46:41,320 --> 00:46:43,840
Speaker 1: great is that's an instance where a competitor came in,

1089
00:46:43,880 --> 00:46:46,439
Speaker 1: they changed the rules of the game, and you get

1090
00:46:46,440 --> 00:46:48,600
Speaker 1: to make the decision yourself. As to whether or not

1091
00:46:48,719 --> 00:46:51,000
Speaker 1: this is a convenience that you're going to continue to

1092
00:46:51,040 --> 00:46:54,840
Speaker 1: pay for. But all right, let's share the beer that

1093
00:46:54,880 --> 00:46:56,880
Speaker 1: you and I enjoyed, that we're enjoying right now. This

1094
00:46:57,000 --> 00:47:01,480
Speaker 1: is a walk on water, White Old Monk, and obviously

1095
00:47:01,560 --> 00:47:04,319
Speaker 1: it's a reference to I guess Jesus walking for sure

1096
00:47:04,360 --> 00:47:05,080
Speaker 1: on the water. Yeah.

1097
00:47:05,120 --> 00:47:07,560
Speaker 2: No, they're going with the religious Christian references all the

1098
00:47:07,560 --> 00:47:09,120
Speaker 2: way here, which I can totally.

1099
00:47:10,160 --> 00:47:13,399
Speaker 1: Was there beer back more like there's wine, certain definitely wine.

1100
00:47:13,400 --> 00:47:15,440
Speaker 1: It wasn't beer back then? Well, I don't know on bo.

1101
00:47:15,920 --> 00:47:19,080
Speaker 2: That's a good question, because I think there was it

1102
00:47:19,120 --> 00:47:22,400
Speaker 2: Sam from dogfish Head who dug out some like ancient

1103
00:47:22,400 --> 00:47:24,320
Speaker 2: beer recipes from all over the world.

1104
00:47:24,480 --> 00:47:27,560
Speaker 1: That's many coming from like the ancient Egypt. I remember

1105
00:47:27,640 --> 00:47:30,319
Speaker 1: specifically one, but so I think they I think that

1106
00:47:30,360 --> 00:47:32,520
Speaker 1: one was more like a mead because it was like honey,

1107
00:47:32,760 --> 00:47:35,160
Speaker 1: honeybas certainly not like beer today.

1108
00:47:35,360 --> 00:47:39,120
Speaker 2: Yes, no, they didn't. They didn't have hazy eye back

1109
00:47:39,160 --> 00:47:41,600
Speaker 2: in back in like Christen, We're not gonna we're not

1110
00:47:41,600 --> 00:47:43,480
Speaker 2: going to criticize you too much, Bold Monk. Yeah, but

1111
00:47:43,480 --> 00:47:43,879
Speaker 2: it's cool.

1112
00:47:43,880 --> 00:47:45,239
Speaker 1: So okay, how was this beer? Though?

1113
00:47:46,400 --> 00:47:48,360
Speaker 2: It was definitely not white in color. I was expecting

1114
00:47:48,400 --> 00:47:50,640
Speaker 2: a whiter look to this, because when you when you're

1115
00:47:50,680 --> 00:47:53,600
Speaker 2: you're doing a Belgian white, you're expecting to see the

1116
00:47:53,680 --> 00:47:56,480
Speaker 2: color be whiter. Really like, even with the Alegash white,

1117
00:47:56,480 --> 00:47:58,160
Speaker 2: I feel like it is. Is it paler than this?

1118
00:47:58,880 --> 00:48:01,840
Speaker 2: I think, yeah, it even looks more actual white, But like,

1119
00:48:01,960 --> 00:48:02,960
Speaker 2: I don't know, I don't want to hate on that

1120
00:48:02,960 --> 00:48:04,799
Speaker 2: too much, but I dig the taste, but I more

1121
00:48:04,840 --> 00:48:06,440
Speaker 2: amber in color than you're expecting. I feel like it's

1122
00:48:06,520 --> 00:48:08,760
Speaker 2: missing a little something, And I think what it's missing

1123
00:48:08,920 --> 00:48:11,440
Speaker 2: is some of the Belgian spices that I'm used to.

1124
00:48:11,560 --> 00:48:14,200
Speaker 2: So this feels almost more like just a straight up

1125
00:48:14,239 --> 00:48:16,880
Speaker 2: pillsner than it does a Belgian Belgian white to me, Yeah.

1126
00:48:16,760 --> 00:48:18,480
Speaker 1: Like you're not picking up on the Belgian yeasts.

1127
00:48:18,920 --> 00:48:20,800
Speaker 2: No, I definitely get some of the Belgian yeast, but

1128
00:48:20,800 --> 00:48:23,120
Speaker 2: I don't get some of the Belgian spices there really

1129
00:48:23,120 --> 00:48:23,799
Speaker 2: should be in here.

1130
00:48:24,120 --> 00:48:26,239
Speaker 1: I feel like there's certainly more of those spices in

1131
00:48:26,360 --> 00:48:28,719
Speaker 1: like doubles and triples. But I thought, this is like

1132
00:48:28,760 --> 00:48:30,120
Speaker 1: in my mind, that says, just like and now a

1133
00:48:30,160 --> 00:48:32,399
Speaker 1: gosh white, Oh really? Yeah? Since I don't know if

1134
00:48:32,400 --> 00:48:34,200
Speaker 1: that's just because maybe we got to do a taste

1135
00:48:34,200 --> 00:48:37,000
Speaker 1: testis Yeah, dude, you know we were just talking about

1136
00:48:37,000 --> 00:48:41,440
Speaker 1: that because you recently picked up like the fancier coffee

1137
00:48:41,520 --> 00:48:43,279
Speaker 1: at Costco and you brought me over a couple of

1138
00:48:43,280 --> 00:48:45,080
Speaker 1: scoops and so over the weekend and you held up

1139
00:48:45,120 --> 00:48:48,680
Speaker 1: your nose. No, no, hody toy man. I said, please,

1140
00:48:48,680 --> 00:48:50,319
Speaker 1: I would love to Yeah, I want to check that out.

1141
00:48:50,320 --> 00:48:52,000
Speaker 1: I would love to try it without having to buy

1142
00:48:52,040 --> 00:48:54,640
Speaker 1: five pounds of it so I can destroy it. And

1143
00:48:54,719 --> 00:48:56,920
Speaker 1: Kate and I we did a what the coffee kind

1144
00:48:56,920 --> 00:49:00,239
Speaker 1: of sewers call a cupping, and we did the what

1145
00:49:00,360 --> 00:49:03,400
Speaker 1: is it? It's like a single origin Costco being whatever.

1146
00:49:03,680 --> 00:49:06,680
Speaker 1: I will say, it looks much better than any other

1147
00:49:06,760 --> 00:49:09,360
Speaker 1: coffee because all the other ones are just super oily,

1148
00:49:09,440 --> 00:49:12,360
Speaker 1: which I think oftentimes Telly tells you how old they are. Anyway,

1149
00:49:12,360 --> 00:49:14,479
Speaker 1: we compared that to some of the nicer local stuff here,

1150
00:49:15,239 --> 00:49:19,280
Speaker 1: and yeah, Costco failed. I've turned into a coffee snob,

1151
00:49:19,320 --> 00:49:21,520
Speaker 1: my friend. It's why I'm trying to keep blinders on

1152
00:49:21,600 --> 00:49:24,320
Speaker 1: in other areas of my life. Like you're, yeah, I

1153
00:49:24,360 --> 00:49:26,239
Speaker 1: don't know how we're talking about coffee right now, but

1154
00:49:26,320 --> 00:49:28,200
Speaker 1: let's go back to cars. That's all our best at

1155
00:49:29,000 --> 00:49:30,400
Speaker 1: or in this case beer. I thought this was a

1156
00:49:30,400 --> 00:49:33,480
Speaker 1: pretty solid offering by Bold Monk. I felt that it

1157
00:49:33,520 --> 00:49:37,279
Speaker 1: was sort of a brighter Belgian white like it kind

1158
00:49:37,280 --> 00:49:40,239
Speaker 1: of a brighter crisper yes, which I guess kind of

1159
00:49:40,239 --> 00:49:42,520
Speaker 1: goes along with what you're saying. Maybe has fewer now

1160
00:49:42,520 --> 00:49:45,000
Speaker 1: you're coming around a fewer some of those spices, but

1161
00:49:45,040 --> 00:49:48,360
Speaker 1: it totally has the Belgian yeast flavor going on, where

1162
00:49:48,600 --> 00:49:50,440
Speaker 1: you know, I don't know how else to describe it

1163
00:49:50,480 --> 00:49:53,319
Speaker 1: other than a Belgian yeast. Once you you know, once

1164
00:49:53,360 --> 00:49:55,360
Speaker 1: you have a Belgian beer, you know what you're you

1165
00:49:55,360 --> 00:49:55,960
Speaker 1: know what you're tasting.

1166
00:49:56,200 --> 00:49:57,440
Speaker 2: They have a very distinct vibe.

1167
00:49:57,520 --> 00:50:00,279
Speaker 1: Yeah, but still Bold Monk love what they're offering. It's

1168
00:50:00,280 --> 00:50:02,920
Speaker 1: a solid brewery here in Atlanta. I'm glad you and

1169
00:50:02,960 --> 00:50:05,440
Speaker 1: I got to share this one today. And you can

1170
00:50:05,480 --> 00:50:07,200
Speaker 1: also find our show notes up on the website at

1171
00:50:07,239 --> 00:50:10,239
Speaker 1: howdomoney dot com. There you can find links to some

1172
00:50:10,320 --> 00:50:13,640
Speaker 1: of the different resources that we mentioned, including the credit

1173
00:50:13,640 --> 00:50:15,920
Speaker 1: card tool with a fancy little sliders that allow you

1174
00:50:15,960 --> 00:50:19,680
Speaker 1: to hone in on do you say hone in or

1175
00:50:19,719 --> 00:50:22,640
Speaker 1: home in hone hone Yeah, like you're sharpening a knife,

1176
00:50:22,680 --> 00:50:25,839
Speaker 1: but home like you're like a homing homing pigeon, home

1177
00:50:25,960 --> 00:50:28,799
Speaker 1: homing missile or something. Okay, well the other thing. Either way,

1178
00:50:28,800 --> 00:50:30,160
Speaker 1: you can find that out how to Money dot Com.

1179
00:50:30,239 --> 00:50:32,760
Speaker 2: We'll put slash credit card, put a policy genius calculator

1180
00:50:32,800 --> 00:50:33,479
Speaker 2: in there as well.

1181
00:50:33,520 --> 00:50:33,680
Speaker 5: You know.

1182
00:50:33,680 --> 00:50:34,920
Speaker 2: And by the way, if you want to succumb to

1183
00:50:34,960 --> 00:50:36,919
Speaker 2: review inflation and leave how the Money at five stor review,

1184
00:50:36,960 --> 00:50:39,640
Speaker 2: you can do that too. We would gladly accept it.

1185
00:50:39,840 --> 00:50:40,520
Speaker 1: And it does.

1186
00:50:40,719 --> 00:50:43,080
Speaker 2: It does help other people find out about the podcast

1187
00:50:43,120 --> 00:50:46,000
Speaker 2: absolutely and hopefully get the personal finance help they need.

1188
00:50:46,160 --> 00:50:48,000
Speaker 2: But Matt, that's going to do it for this episode.

1189
00:50:48,080 --> 00:50:51,279
Speaker 2: Until next time, Best Friends Out, Best Friends Out.

1190
00:51:00,560 --> 00:51:05,920
Speaker 1: You don't know, do hope