1 00:00:00,080 --> 00:00:02,560 Speaker 1: Welcome to How the Money. I'm Joel and I and Matt. 2 00:00:02,800 --> 00:00:06,760 Speaker 1: Today we're discussing free tax filing, astronomical food delivery fees, 3 00:00:06,880 --> 00:00:29,080 Speaker 1: and awful money advice on TikTok. Yeah that's right, Joel. 4 00:00:29,120 --> 00:00:31,120 Speaker 1: This is our Friday Flight episode where every week we 5 00:00:31,400 --> 00:00:34,599 Speaker 1: dive into several news stories that we think are going 6 00:00:34,640 --> 00:00:37,720 Speaker 1: to impact our money, our personal finances. We're gonna talk 7 00:00:37,720 --> 00:00:40,080 Speaker 1: about the stories that you mentioned, plus many many more 8 00:00:40,520 --> 00:00:42,440 Speaker 1: during this episode. Yeah. But before we get to that, man, 9 00:00:42,479 --> 00:00:44,839 Speaker 1: I gotta let you know I finally scored some dumbbells. 10 00:00:45,240 --> 00:00:47,920 Speaker 1: Oh not like workout equipment. Yeah. Yeah, So, like you know, 11 00:00:47,960 --> 00:00:49,760 Speaker 1: I think we've talked about this a couple of months ago, 12 00:00:49,800 --> 00:00:52,360 Speaker 1: where dumbbells were in shorts supplying the almost impossible to 13 00:00:52,400 --> 00:00:55,200 Speaker 1: find they were. I found some. So where where did 14 00:00:55,200 --> 00:00:58,040 Speaker 1: you find some? Walmart? I don't do much shopping out 15 00:00:58,040 --> 00:01:00,120 Speaker 1: Walmart typically, but um, I guess I was on one 16 00:01:00,120 --> 00:01:02,080 Speaker 1: of the deal's websites and it was like dumbbells over 17 00:01:02,080 --> 00:01:04,520 Speaker 1: here and I was like, yes, sign me up. So 18 00:01:04,640 --> 00:01:06,560 Speaker 1: um yeah. Emily and I have been working out at 19 00:01:06,600 --> 00:01:09,080 Speaker 1: home as most people who try to continue working out, 20 00:01:09,120 --> 00:01:11,319 Speaker 1: and I would say for me, it's not continuing working out, 21 00:01:11,319 --> 00:01:13,920 Speaker 1: it's kind of like starting again. Um, I'm not really 22 00:01:14,000 --> 00:01:17,360 Speaker 1: good at the consistency level of working out. My wife 23 00:01:17,400 --> 00:01:18,800 Speaker 1: is much better at that than I am. But so 24 00:01:18,840 --> 00:01:20,520 Speaker 1: basically every time you work out, you're like, I guess 25 00:01:20,560 --> 00:01:22,920 Speaker 1: I'm gonna get back into working out again, because it's 26 00:01:22,920 --> 00:01:25,360 Speaker 1: been a couple of months pretty much. Yeah, but since 27 00:01:25,400 --> 00:01:27,759 Speaker 1: the beginning of the year, we've actually been um, fairly routine, 28 00:01:27,760 --> 00:01:29,840 Speaker 1: which has been which has been good. But yeah, those 29 00:01:29,880 --> 00:01:33,759 Speaker 1: dumbells hard to find if you find some pounds, because yeah, 30 00:01:33,760 --> 00:01:35,880 Speaker 1: I think they were a reasonable price eight bucks apiece, 31 00:01:36,520 --> 00:01:39,959 Speaker 1: which for how how heavy eight pound eight pound studies 32 00:01:39,959 --> 00:01:43,399 Speaker 1: were totally for you, I should say, forty pound dumbells. Um, yeah, 33 00:01:43,400 --> 00:01:46,480 Speaker 1: they're they're totally for me. Fifty pound dumbbells for my curls. 34 00:01:47,160 --> 00:01:49,160 Speaker 1: I think that's a lot. It's been many a year 35 00:01:49,240 --> 00:01:51,560 Speaker 1: since I've worked out, but we and we're dealing, you know, 36 00:01:51,640 --> 00:01:54,160 Speaker 1: reps over. Yeah, I'm not like trying to bench press 37 00:01:54,160 --> 00:01:56,600 Speaker 1: three hundo and max out. That's one of the advantages 38 00:01:56,640 --> 00:01:58,920 Speaker 1: of doing what a little bit of strength but mostly 39 00:01:58,960 --> 00:02:01,320 Speaker 1: just kind of like resist and like higher rep kind 40 00:02:01,320 --> 00:02:03,000 Speaker 1: of workouts. You don't have to pay for the really 41 00:02:03,040 --> 00:02:05,560 Speaker 1: expensive weights. Yeah, just get the small way and do 42 00:02:05,600 --> 00:02:07,600 Speaker 1: it a bunch of times. Yeah. Well, dude, I think 43 00:02:07,600 --> 00:02:09,720 Speaker 1: there's just so much too, even aside from waits that 44 00:02:09,760 --> 00:02:12,040 Speaker 1: we can do at home, right, I mean, like literally 45 00:02:12,040 --> 00:02:14,280 Speaker 1: on my your own body weight. Yes, no, seriously, Like 46 00:02:14,320 --> 00:02:15,800 Speaker 1: there are two things I do when it comes to 47 00:02:15,960 --> 00:02:18,799 Speaker 1: making sure I stay in shape. First of all, Uh, 48 00:02:18,840 --> 00:02:21,639 Speaker 1: the fact that we're not biking regularly is still kind 49 00:02:21,639 --> 00:02:23,560 Speaker 1: of biding me in the butt because since the pandemic, 50 00:02:23,639 --> 00:02:26,120 Speaker 1: like our kids still they're not yet in school full 51 00:02:26,120 --> 00:02:28,880 Speaker 1: time in person. Uh, And so I was counting on 52 00:02:28,919 --> 00:02:30,880 Speaker 1: that bike right every single morning to to be able 53 00:02:30,880 --> 00:02:32,120 Speaker 1: to take the kids to school. Like that was a 54 00:02:32,120 --> 00:02:34,320 Speaker 1: way for me to get some cardio in, right, But 55 00:02:34,360 --> 00:02:35,880 Speaker 1: now I've got it on my calendar. Like I've got 56 00:02:35,919 --> 00:02:38,040 Speaker 1: two days a week I dedicate towards running in order 57 00:02:38,080 --> 00:02:39,240 Speaker 1: to make sure I get my heart rate up. But 58 00:02:39,240 --> 00:02:41,400 Speaker 1: then the other two days, what I call my workout days, 59 00:02:41,520 --> 00:02:44,600 Speaker 1: I just do a bunch of burpies before I jump 60 00:02:44,639 --> 00:02:47,200 Speaker 1: in the shower. I try to do like anywhere between, 61 00:02:47,280 --> 00:02:50,320 Speaker 1: like I don't know, eighty and a hundred burpies. I'm 62 00:02:50,360 --> 00:02:53,120 Speaker 1: normally like shaking you know, on the last set or two, 63 00:02:53,200 --> 00:02:55,959 Speaker 1: because I'm still kind of weak, but like, man, you 64 00:02:56,080 --> 00:02:57,760 Speaker 1: you really get your heart rate up, keep your core 65 00:02:57,840 --> 00:03:00,680 Speaker 1: strong again. That's my biggest thing is making sure that 66 00:03:00,880 --> 00:03:03,040 Speaker 1: as I get older that I don't hurt my back. 67 00:03:03,080 --> 00:03:04,639 Speaker 1: I don't want to be one of those dummies that 68 00:03:04,639 --> 00:03:06,440 Speaker 1: that does something stupid on the weekends and I'm like, oh, 69 00:03:06,480 --> 00:03:08,720 Speaker 1: my back, I don't want to be that guy. I've 70 00:03:08,720 --> 00:03:11,680 Speaker 1: been there, but it's so have I. But between chopping 71 00:03:11,720 --> 00:03:13,799 Speaker 1: wood and uh, doing my Berkees, man, I feel like 72 00:03:13,800 --> 00:03:15,639 Speaker 1: I'm able to stay in pretty decent shape. But I'm 73 00:03:15,639 --> 00:03:17,600 Speaker 1: glad that you were able to find some dumbbells. I've 74 00:03:17,600 --> 00:03:19,320 Speaker 1: also been looking out for a kettle bell because Kate's 75 00:03:19,320 --> 00:03:21,239 Speaker 1: been asking me about that as well, because she wants 76 00:03:21,240 --> 00:03:22,960 Speaker 1: to she wants to do those cutlebell swings like I do. 77 00:03:23,040 --> 00:03:24,680 Speaker 1: If I spot one, I'll let you know, Please let 78 00:03:24,680 --> 00:03:26,600 Speaker 1: me know. Yeah, but uh, and I think it does 79 00:03:26,639 --> 00:03:28,720 Speaker 1: go to show you're right, like a couple dumbells is 80 00:03:29,080 --> 00:03:31,320 Speaker 1: helpful in you know, certain kinds of workouts that you 81 00:03:31,360 --> 00:03:33,560 Speaker 1: want to do, but you're right, like, there's so many 82 00:03:33,600 --> 00:03:36,640 Speaker 1: other ways to work out without having um specialized equipment 83 00:03:36,880 --> 00:03:38,240 Speaker 1: and I think I mentioned that we get like a 84 00:03:38,280 --> 00:03:41,080 Speaker 1: stationary bike from playing in sports you back in the 85 00:03:41,080 --> 00:03:43,800 Speaker 1: earlier days the pandemic and let our y membership laps 86 00:03:44,160 --> 00:03:46,000 Speaker 1: and um, and I've been trying to get on that too. 87 00:03:46,080 --> 00:03:48,360 Speaker 1: I actually did ride my bike in good fourteen miles 88 00:03:48,400 --> 00:03:50,640 Speaker 1: the other day, which was really nice. Nice, but um, yeah, 89 00:03:50,720 --> 00:03:52,480 Speaker 1: you're right, like I just haven't been doing that as much. 90 00:03:52,560 --> 00:03:54,840 Speaker 1: You're not doing it regularly and part of the cold, Yeah, 91 00:03:55,040 --> 00:03:57,240 Speaker 1: it's like it has been cold. Yeah, But I encourage 92 00:03:57,240 --> 00:03:59,880 Speaker 1: folks to to keep looking if you're looking for some dumbbells. 93 00:04:00,120 --> 00:04:01,800 Speaker 1: I'm starting to see him pop up in a couple 94 00:04:01,800 --> 00:04:04,160 Speaker 1: more places, and hopefully you don't spend an arm and 95 00:04:04,200 --> 00:04:06,840 Speaker 1: a leg in order to acquire them. Quick little side 96 00:04:06,840 --> 00:04:09,480 Speaker 1: personal note. You mentioned the letting your wife membership laps 97 00:04:09,520 --> 00:04:10,880 Speaker 1: just a few weeks ago. When Kat and I sat 98 00:04:10,880 --> 00:04:13,080 Speaker 1: down and kind of looked at our budget. Fore you know, 99 00:04:13,120 --> 00:04:15,120 Speaker 1: we kind of make an adjustments to some of the categories, 100 00:04:15,440 --> 00:04:17,640 Speaker 1: and we actually increase the amount of money that's going 101 00:04:17,720 --> 00:04:20,200 Speaker 1: to go towards the category that we're gonna pay for 102 00:04:20,240 --> 00:04:22,040 Speaker 1: a white membership out of. And so we'll see you 103 00:04:22,040 --> 00:04:24,479 Speaker 1: guys at the pool so there you go. White Pool 104 00:04:24,680 --> 00:04:27,320 Speaker 1: is the best part about the being a Whine member. 105 00:04:27,680 --> 00:04:29,080 Speaker 1: But that's I mean, it's really the only reason we're 106 00:04:29,080 --> 00:04:31,240 Speaker 1: gonna do it during the summer. But I don't think 107 00:04:31,279 --> 00:04:33,440 Speaker 1: we've talked about that, Glad you said aside some funds 108 00:04:33,440 --> 00:04:35,680 Speaker 1: for that. That's gonna be fun. All right, Let's get 109 00:04:35,680 --> 00:04:38,680 Speaker 1: to the Friday fight the stories that we found interesting 110 00:04:38,800 --> 00:04:41,400 Speaker 1: this week, and Matt, let's start with mortgage rates. Um, 111 00:04:41,680 --> 00:04:45,880 Speaker 1: they dropped to insanely low levels in right, and interest 112 00:04:45,960 --> 00:04:48,160 Speaker 1: rates are still incredibly cheap out there for folks who 113 00:04:48,160 --> 00:04:51,000 Speaker 1: are buying or refinancing at home, but there are some 114 00:04:51,040 --> 00:04:52,800 Speaker 1: signs that we're starting to see that rates are going 115 00:04:52,839 --> 00:04:56,240 Speaker 1: to be inching back up in one So anybody who's 116 00:04:56,279 --> 00:04:59,000 Speaker 1: interested in buying a refinancing you might want to take note. 117 00:04:59,440 --> 00:05:02,480 Speaker 1: Rates act just recently hit their highest level since November. 118 00:05:02,680 --> 00:05:03,919 Speaker 1: That's not saying a whole lot because it was like 119 00:05:03,960 --> 00:05:05,720 Speaker 1: literally a month and a half ago or two months ago, 120 00:05:05,760 --> 00:05:08,040 Speaker 1: but and they were still super low in November. But 121 00:05:08,320 --> 00:05:11,040 Speaker 1: if you've been too busy to refly or you're hoping 122 00:05:11,080 --> 00:05:14,240 Speaker 1: to see rates drop even further before pouncing, now might 123 00:05:14,279 --> 00:05:16,200 Speaker 1: actually be the perfect time to strike. You might not 124 00:05:16,240 --> 00:05:18,080 Speaker 1: want to wait any longer. Yeah, they say they might 125 00:05:18,120 --> 00:05:21,080 Speaker 1: inch up, but that doesn't mean they're gonna skyrocking, right. 126 00:05:21,080 --> 00:05:23,640 Speaker 1: I mean that the housing market, mortgage rates, anything associated 127 00:05:23,680 --> 00:05:26,839 Speaker 1: with housing doesn't move on a dime. There are so 128 00:05:26,880 --> 00:05:30,080 Speaker 1: many moving pieces. It's a giant industry. Uh. And I 129 00:05:30,080 --> 00:05:31,840 Speaker 1: saw too. You have the Freddy Mac that they are 130 00:05:31,880 --> 00:05:34,640 Speaker 1: forecasting that the average thirty year mortgage rate is going 131 00:05:34,720 --> 00:05:36,440 Speaker 1: to be at two point nine and that's about what 132 00:05:36,440 --> 00:05:38,720 Speaker 1: it is currently and and so yeah, I think we 133 00:05:38,800 --> 00:05:40,080 Speaker 1: might see it go up a little bit, but we're 134 00:05:40,080 --> 00:05:41,960 Speaker 1: not expecting it to shoot up. But like you said, 135 00:05:42,000 --> 00:05:44,520 Speaker 1: if you are or if you have been considering a REFI, 136 00:05:44,960 --> 00:05:47,159 Speaker 1: now definitely might be the time to do that. Part 137 00:05:47,160 --> 00:05:48,800 Speaker 1: of the reason that rates are going back up is 138 00:05:49,360 --> 00:05:52,919 Speaker 1: because of the greater certainty about in economic recovery that 139 00:05:53,040 --> 00:05:55,280 Speaker 1: is now happening. I feel like we can we can 140 00:05:55,279 --> 00:05:57,280 Speaker 1: all kind of sense it. Maybe a little bit um 141 00:05:57,360 --> 00:05:59,599 Speaker 1: and of course to not to mention the stimulus money 142 00:06:00,080 --> 00:06:02,279 Speaker 1: that is getting into people's hands. Uh and with a 143 00:06:02,320 --> 00:06:05,600 Speaker 1: likelihood of even more coming soon. But will mortgage rates 144 00:06:05,680 --> 00:06:09,320 Speaker 1: stay low in all likelihood? Yes, we are still in 145 00:06:09,360 --> 00:06:11,880 Speaker 1: the middle of historic low mortgage rates. Uh, and it's 146 00:06:11,960 --> 00:06:14,400 Speaker 1: highly unlikely that we're going to see big increases in 147 00:06:14,440 --> 00:06:17,240 Speaker 1: the rates that borrowers are seeing when they reach out 148 00:06:17,240 --> 00:06:18,840 Speaker 1: to get a quote from you know, a credit union 149 00:06:18,920 --> 00:06:21,320 Speaker 1: or a bank. But especially for people who can stand 150 00:06:21,360 --> 00:06:24,120 Speaker 1: to save big money with a refinance, every little bump 151 00:06:24,160 --> 00:06:26,280 Speaker 1: and interest rate and means adding just a bit more 152 00:06:26,320 --> 00:06:28,120 Speaker 1: to your monthly payments. So if you do want to 153 00:06:28,120 --> 00:06:30,800 Speaker 1: score refile, all rates are the trough. Now is your time? 154 00:06:30,839 --> 00:06:33,960 Speaker 1: All right, let's talk about taxes, everybody's favorite topic. Matt 155 00:06:34,360 --> 00:06:36,400 Speaker 1: I r S Free File tax season in his tax 156 00:06:36,400 --> 00:06:38,719 Speaker 1: season already um in I r S Free File is 157 00:06:38,760 --> 00:06:41,800 Speaker 1: now open for business and free file is just like 158 00:06:41,839 --> 00:06:45,679 Speaker 1: an awesome place for pretty much everybody who makes under 159 00:06:46,080 --> 00:06:49,600 Speaker 1: seventy two dollars a year in adjusted gross income. If 160 00:06:49,640 --> 00:06:52,120 Speaker 1: you made that much or less last year, I r 161 00:06:52,279 --> 00:06:54,160 Speaker 1: S Free File is in all likelihood the best place 162 00:06:54,200 --> 00:06:56,279 Speaker 1: for you to go to file your taxes. And that's 163 00:06:56,400 --> 00:06:58,159 Speaker 1: especially the case if you don't have like some of 164 00:06:58,160 --> 00:07:01,560 Speaker 1: those ex added complications to to your taxes. Right. One 165 00:07:01,600 --> 00:07:04,320 Speaker 1: caveat is that if your state has a state income tax, 166 00:07:04,520 --> 00:07:06,480 Speaker 1: you'll have to do some digging to see whether or 167 00:07:06,520 --> 00:07:08,679 Speaker 1: not you'll have to pay for that portion of filing 168 00:07:08,720 --> 00:07:10,920 Speaker 1: your return. I r S Free file doesn't guarantee a 169 00:07:10,920 --> 00:07:13,480 Speaker 1: free state return, just a free federal return. I checked 170 00:07:13,520 --> 00:07:15,760 Speaker 1: some of the options available in Georgia, Matt, where we live, 171 00:07:16,000 --> 00:07:17,400 Speaker 1: and some of the companies on the i r S 172 00:07:17,440 --> 00:07:19,680 Speaker 1: website will make you pay for your state return, but 173 00:07:19,720 --> 00:07:21,120 Speaker 1: others make it free. So you just kind of have 174 00:07:21,160 --> 00:07:23,320 Speaker 1: to uh look at the options and see would exists 175 00:07:23,320 --> 00:07:24,800 Speaker 1: and and find the one that works best for you 176 00:07:25,120 --> 00:07:27,280 Speaker 1: either way you go, though, Matt, the worst thing you 177 00:07:27,280 --> 00:07:30,239 Speaker 1: can do this tax season is to submit a paper 178 00:07:30,280 --> 00:07:32,480 Speaker 1: return to the i r S. And that's because it's 179 00:07:32,480 --> 00:07:34,000 Speaker 1: going to take a whole lot longer to get any 180 00:07:34,040 --> 00:07:36,240 Speaker 1: refund that might be due to you. And also the 181 00:07:36,240 --> 00:07:39,720 Speaker 1: i r S still hasn't processed upwards of six million 182 00:07:39,760 --> 00:07:43,360 Speaker 1: paper returns from the twenty nineteen tax season, almost seven millions, 183 00:07:43,400 --> 00:07:46,160 Speaker 1: six point nine millions. That's so many returns that have 184 00:07:46,320 --> 00:07:48,280 Speaker 1: not been touched. And of course that's because of the 185 00:07:48,320 --> 00:07:50,040 Speaker 1: pandemic and how that's shaking things up at the I 186 00:07:50,120 --> 00:07:51,760 Speaker 1: r S. And I saw the IRS had their funding 187 00:07:51,760 --> 00:07:54,840 Speaker 1: cut last year. The pandemic plus having your funding cut 188 00:07:54,880 --> 00:07:56,480 Speaker 1: like that, it's no surprise that there are so many 189 00:07:56,560 --> 00:07:59,280 Speaker 1: unprocessed returns from last year. Yeah, that's gonna continue to 190 00:07:59,320 --> 00:08:01,680 Speaker 1: be the case in all likelihood um this year. So 191 00:08:01,760 --> 00:08:05,320 Speaker 1: I would just recommend everybody out there file your return digitally, 192 00:08:05,560 --> 00:08:07,800 Speaker 1: don't do the paper route because you might be waiting 193 00:08:08,000 --> 00:08:10,560 Speaker 1: a long time to see that return your process. Yeah, totally. 194 00:08:10,560 --> 00:08:12,680 Speaker 1: And it's it's pretty early to file your taxes now, 195 00:08:12,720 --> 00:08:14,960 Speaker 1: but it does make sense that some people want to 196 00:08:14,960 --> 00:08:17,120 Speaker 1: get it done early, especially if you are one of 197 00:08:17,160 --> 00:08:20,120 Speaker 1: the people who had an issue getting your stimulus money 198 00:08:20,240 --> 00:08:23,120 Speaker 1: a few weeks ago. The earlier that you file electronically, 199 00:08:23,160 --> 00:08:25,720 Speaker 1: the sooner that you're gonna see your potential tax refund 200 00:08:25,880 --> 00:08:28,520 Speaker 1: plus that stimulus money. Uh. The i r S won't 201 00:08:28,520 --> 00:08:32,800 Speaker 1: actually begin processing returns until February twelve, but you can 202 00:08:32,800 --> 00:08:35,120 Speaker 1: still go super early bird on this and submit your 203 00:08:35,160 --> 00:08:37,480 Speaker 1: tax return now to get at the head of the 204 00:08:37,520 --> 00:08:40,320 Speaker 1: line for when they do begin to process them. There's 205 00:08:40,400 --> 00:08:42,200 Speaker 1: a lot of different benefits to making sure that you 206 00:08:42,280 --> 00:08:44,679 Speaker 1: e file than you file early as well, if you're 207 00:08:44,679 --> 00:08:46,280 Speaker 1: wanting to get your hands on that money. Yeah, And 208 00:08:46,280 --> 00:08:48,200 Speaker 1: we can debate the merits of whether or not it's 209 00:08:48,240 --> 00:08:50,760 Speaker 1: wise to get a tax refund Ultimately, you probably want 210 00:08:50,760 --> 00:08:53,120 Speaker 1: to shoot for not getting much of a or you know, 211 00:08:53,160 --> 00:08:55,080 Speaker 1: getting as close to that line as you can of 212 00:08:55,440 --> 00:08:57,640 Speaker 1: not owing the I R S any money and the 213 00:08:57,679 --> 00:08:59,360 Speaker 1: I R S not owing you any money. You kind 214 00:08:59,360 --> 00:09:01,040 Speaker 1: of want to try to hit the nail on the 215 00:09:01,080 --> 00:09:03,240 Speaker 1: head if you can. Um. But but still a lot 216 00:09:03,280 --> 00:09:05,600 Speaker 1: of people are owed to refund because of the way 217 00:09:05,800 --> 00:09:08,439 Speaker 1: they handle their withholdings. UM. And if you're owed a 218 00:09:08,480 --> 00:09:10,480 Speaker 1: couple of thousand dollars from the I R S, you 219 00:09:10,559 --> 00:09:12,960 Speaker 1: want that money quick, A sap baby. Yeah, all right, 220 00:09:13,000 --> 00:09:15,320 Speaker 1: let's move on to consumer reports. Matt this week published 221 00:09:15,320 --> 00:09:18,520 Speaker 1: an interesting article detailing why peer to peer payment apps 222 00:09:18,559 --> 00:09:21,400 Speaker 1: like cash app and Venmo aren't as safe as paying 223 00:09:21,440 --> 00:09:23,080 Speaker 1: with a credit card. We've talked about this a little 224 00:09:23,120 --> 00:09:26,200 Speaker 1: bit in the past, but these apps, which can be 225 00:09:26,240 --> 00:09:29,000 Speaker 1: really helpful in some circumstances, don't offer the same fraud 226 00:09:29,000 --> 00:09:31,439 Speaker 1: protections that you get with a credit card. And actually, 227 00:09:31,440 --> 00:09:32,920 Speaker 1: one of the stats in the article says that peer 228 00:09:32,960 --> 00:09:36,560 Speaker 1: to peer payment app fraud has jumped sevent just in 229 00:09:36,600 --> 00:09:40,480 Speaker 1: the last four years. Those apps are great when you're 230 00:09:40,520 --> 00:09:42,719 Speaker 1: splitting a restaurant bill or paying someone that you know 231 00:09:42,960 --> 00:09:45,720 Speaker 1: for a service, but they're definitely not ideal for paying 232 00:09:45,720 --> 00:09:47,880 Speaker 1: people that you don't know at all, and that's because 233 00:09:48,040 --> 00:09:51,439 Speaker 1: if you use a credit card instead, you actually have rights, 234 00:09:51,520 --> 00:09:54,160 Speaker 1: you have chargeback rights that are far superior. And that's 235 00:09:54,160 --> 00:09:56,640 Speaker 1: basically because the rights when you're using a P two 236 00:09:56,640 --> 00:09:59,400 Speaker 1: P app are essentially non existent. If you pay someone 237 00:09:59,520 --> 00:10:02,040 Speaker 1: a via one these apps that you don't know, well, 238 00:10:02,200 --> 00:10:05,480 Speaker 1: your money can be completely gone with zero recourse for you. 239 00:10:05,720 --> 00:10:07,800 Speaker 1: I think the best way to think about using those 240 00:10:07,840 --> 00:10:11,080 Speaker 1: apps is is treating any sort of payment you would 241 00:10:11,080 --> 00:10:13,880 Speaker 1: make via one of those apps like you're handing over 242 00:10:14,000 --> 00:10:15,920 Speaker 1: cash to somebody. It's gonna be hard to get that 243 00:10:15,960 --> 00:10:18,000 Speaker 1: cash back, and there's nobody who's gonna fight for you 244 00:10:18,040 --> 00:10:19,680 Speaker 1: to get that cash back from someone that you gave 245 00:10:19,720 --> 00:10:21,520 Speaker 1: it to. You're essentially on your own when you use 246 00:10:21,559 --> 00:10:23,520 Speaker 1: these apps to make any sort of payment. Yeah. Yeah, 247 00:10:23,640 --> 00:10:25,600 Speaker 1: you're definitely not going to get those app companies to 248 00:10:25,640 --> 00:10:27,480 Speaker 1: help you out, you know, just trying to get ahold 249 00:10:27,480 --> 00:10:29,920 Speaker 1: of their customer service if you have an issue. Yeah, 250 00:10:29,960 --> 00:10:32,640 Speaker 1: good luck with that again. You know, it's not that 251 00:10:32,640 --> 00:10:34,679 Speaker 1: these apps aren't useful for some forms of payment, but 252 00:10:34,720 --> 00:10:37,360 Speaker 1: it would be great to see them institute some you know, 253 00:10:37,440 --> 00:10:40,679 Speaker 1: some much needed safety measures for their customers. But until 254 00:10:40,720 --> 00:10:43,120 Speaker 1: they do, UH, if you are, in particular, if you 255 00:10:43,160 --> 00:10:45,080 Speaker 1: are you know, buying either goods or services, you need 256 00:10:45,080 --> 00:10:47,679 Speaker 1: to make sure that you're being extra diligent, that you're 257 00:10:47,679 --> 00:10:49,520 Speaker 1: being vigilant, you know, with with who it is that 258 00:10:49,520 --> 00:10:52,319 Speaker 1: you're making purchases and doing business with. And by the way, 259 00:10:52,320 --> 00:10:54,840 Speaker 1: since we're talking about um, the benefits of credit cards. 260 00:10:55,040 --> 00:10:58,080 Speaker 1: As the pandemic drags on, it has forced credit card 261 00:10:58,080 --> 00:11:01,880 Speaker 1: companies to reconsider uh the rewards that they offer their customers. 262 00:11:02,280 --> 00:11:04,520 Speaker 1: And some folks who have had cards in their wallet 263 00:11:04,600 --> 00:11:07,240 Speaker 1: that have high annual fees for perks that they can't 264 00:11:07,240 --> 00:11:09,640 Speaker 1: really use right now, we're talking about you know, travel, 265 00:11:10,120 --> 00:11:13,200 Speaker 1: dining rewards, things like that. UH, they have seen some 266 00:11:13,320 --> 00:11:16,360 Speaker 1: solid concessions from their credit card companies. And so, if 267 00:11:16,400 --> 00:11:18,640 Speaker 1: you have a card that you like but the annual 268 00:11:18,679 --> 00:11:20,959 Speaker 1: fee is killing you since you can't take advantage of 269 00:11:21,000 --> 00:11:23,240 Speaker 1: those perks, call your credit card company and see what 270 00:11:23,280 --> 00:11:25,760 Speaker 1: they can do for you. You might get a statement 271 00:11:25,800 --> 00:11:28,719 Speaker 1: credit in the amount of your annual fee, or you know, 272 00:11:28,720 --> 00:11:30,520 Speaker 1: at least close to it, or you might even get 273 00:11:30,600 --> 00:11:32,520 Speaker 1: a nice chunk of points, you know, for for staying 274 00:11:32,559 --> 00:11:35,000 Speaker 1: loyal with them. It's always worth asking in. That's one 275 00:11:35,200 --> 00:11:37,120 Speaker 1: small way that you might be able to reduce some 276 00:11:37,160 --> 00:11:40,040 Speaker 1: of the expenses associated with owning some of those more 277 00:11:40,040 --> 00:11:43,320 Speaker 1: premium credit cards out there. Yeah, Matt, way back episode 278 00:11:43,320 --> 00:11:46,120 Speaker 1: we did, episode eighteen, we talked about the art of 279 00:11:46,160 --> 00:11:48,839 Speaker 1: asking for a discount. UM. I'm nervous to go back 280 00:11:48,880 --> 00:11:51,040 Speaker 1: and even listen, but I think they get real deep. 281 00:11:52,040 --> 00:11:54,600 Speaker 1: But that was one of those episodes where we talked about, like, 282 00:11:54,760 --> 00:11:56,560 Speaker 1: what's the worst that can happen if you call your 283 00:11:56,559 --> 00:11:59,000 Speaker 1: credit card company and you ask for that statement credit 284 00:11:59,160 --> 00:12:01,240 Speaker 1: in the amount of the annual fee um. Those are 285 00:12:01,280 --> 00:12:03,880 Speaker 1: the kind of things that people often forsake when it 286 00:12:03,880 --> 00:12:05,600 Speaker 1: comes to their personal finances. They don't want to make 287 00:12:05,640 --> 00:12:07,520 Speaker 1: that phone call, they don't want to hop on their 288 00:12:07,559 --> 00:12:11,000 Speaker 1: credit card issuers website start the chat and make a request. 289 00:12:11,200 --> 00:12:12,720 Speaker 1: But those are the kind of things that you know, 290 00:12:12,720 --> 00:12:15,079 Speaker 1: if you want to save ninety or in the case 291 00:12:15,160 --> 00:12:17,280 Speaker 1: of some of these credit cards, four and fifty dollars 292 00:12:17,360 --> 00:12:20,040 Speaker 1: right in in an annual fee payment, that you can do. 293 00:12:20,200 --> 00:12:23,320 Speaker 1: And we're seeing movement out there. These companies are responding 294 00:12:23,400 --> 00:12:26,480 Speaker 1: because they want to keep loyal customers around. Just remember 295 00:12:26,520 --> 00:12:28,400 Speaker 1: if you don't ask, you don't get, and so, yeah, 296 00:12:28,400 --> 00:12:30,400 Speaker 1: there is a certain art to asking for that discount 297 00:12:30,480 --> 00:12:33,920 Speaker 1: or asking for a concession from a financial services company, 298 00:12:34,040 --> 00:12:35,440 Speaker 1: but you have to make sure that you're at least 299 00:12:35,440 --> 00:12:37,679 Speaker 1: willing to ask. Yeah, regardless if you're talking with your 300 00:12:37,679 --> 00:12:40,280 Speaker 1: credit card company or another potential business out there that 301 00:12:40,320 --> 00:12:42,440 Speaker 1: you're looking to to interact with, you need to make 302 00:12:42,440 --> 00:12:45,440 Speaker 1: sure that you're advocating for yourself on all fronts. All Right, 303 00:12:45,480 --> 00:12:47,959 Speaker 1: Joey still have that food delivery fees story as well 304 00:12:48,000 --> 00:12:51,079 Speaker 1: as financial advice being dished out on TikTok. I'm sure 305 00:12:51,080 --> 00:12:53,320 Speaker 1: that's gonna be good. We'll get to those stories and 306 00:12:53,360 --> 00:13:04,480 Speaker 1: many more right after this break. All right, back to 307 00:13:04,559 --> 00:13:07,680 Speaker 1: the break, we're doing the Friday flight covering financial stories 308 00:13:07,720 --> 00:13:09,720 Speaker 1: that Matt and I found interesting this week that impact 309 00:13:09,760 --> 00:13:12,640 Speaker 1: our personal finances. One thing we want to do on 310 00:13:12,679 --> 00:13:15,400 Speaker 1: Friday flights moving forward, we want to start including a 311 00:13:15,520 --> 00:13:18,040 Speaker 1: ludicrous article of the week. Uh. It just kind of 312 00:13:18,040 --> 00:13:20,319 Speaker 1: sounded like fun to us, Like because when when you're 313 00:13:20,320 --> 00:13:23,880 Speaker 1: pouring over financial stories, Matt, I feel like oftentimes we're 314 00:13:23,960 --> 00:13:27,080 Speaker 1: running into kind of some weird headlines or stuff out there. 315 00:13:27,120 --> 00:13:29,240 Speaker 1: Some stories like it makes me think of a story 316 00:13:29,280 --> 00:13:31,280 Speaker 1: that we talked about a couple of months ago where 317 00:13:31,880 --> 00:13:34,600 Speaker 1: there was it was a business insider or something and 318 00:13:35,000 --> 00:13:37,679 Speaker 1: this lady was complaining, like I started four O on 319 00:13:37,760 --> 00:13:39,480 Speaker 1: K and it was a terrible idea and we kind 320 00:13:39,480 --> 00:13:41,400 Speaker 1: of tried to debunk it. And so that's kind of 321 00:13:41,520 --> 00:13:43,360 Speaker 1: kind of be the tack that we take with the 322 00:13:43,440 --> 00:13:46,000 Speaker 1: ludicrous article of the week or ludicrous story of the week. 323 00:13:46,160 --> 00:13:48,120 Speaker 1: So so I guess why the focus then on ludicrous. 324 00:13:48,160 --> 00:13:49,920 Speaker 1: Is it because we live in Atlanta and we're thinking 325 00:13:49,960 --> 00:13:53,440 Speaker 1: of Luda or is it because there's a ludicrous mode 326 00:13:53,480 --> 00:13:55,800 Speaker 1: on on the Tesla you want to go super fast? 327 00:13:55,880 --> 00:13:57,480 Speaker 1: You know, I don't know, And maybe we can come 328 00:13:57,520 --> 00:13:58,920 Speaker 1: up with a may it's one of as one of 329 00:13:58,960 --> 00:14:02,640 Speaker 1: the two or both both. Yes, all right, we'll say that. 330 00:14:02,640 --> 00:14:04,880 Speaker 1: We'll say that. But like I think to like this 331 00:14:05,080 --> 00:14:07,120 Speaker 1: could be a fun way for um folks that listen 332 00:14:07,160 --> 00:14:09,680 Speaker 1: to engage and shoot us an email when they see 333 00:14:09,679 --> 00:14:12,719 Speaker 1: a ludicrous personal finance story out there on the internet, Like, 334 00:14:12,720 --> 00:14:14,920 Speaker 1: shoot us an email at how the Money Pod at 335 00:14:14,920 --> 00:14:17,920 Speaker 1: gmail dot com, and you know, hopefully we can incorporate 336 00:14:17,960 --> 00:14:20,360 Speaker 1: some of the ludicrous personal finance stories that you see 337 00:14:20,360 --> 00:14:23,880 Speaker 1: floating around out there into future episodes. Not everybody has 338 00:14:23,920 --> 00:14:26,080 Speaker 1: a question that they want to record themselves on, but 339 00:14:26,160 --> 00:14:27,480 Speaker 1: you know a lot of folks are out there reading 340 00:14:27,480 --> 00:14:29,840 Speaker 1: and see what's out there in the news. So yeah, yeah, alright, 341 00:14:29,880 --> 00:14:32,840 Speaker 1: So the ludicrous financial story that we wanted to throw 342 00:14:32,880 --> 00:14:36,880 Speaker 1: your way this week is the TikTok and the headline 343 00:14:36,920 --> 00:14:39,800 Speaker 1: is terrible financial advice is going viral on TikTok. And 344 00:14:39,800 --> 00:14:42,920 Speaker 1: this was a story published by Vox, and they talked 345 00:14:42,920 --> 00:14:45,280 Speaker 1: about some of the awful personal finance content that's being 346 00:14:45,320 --> 00:14:48,640 Speaker 1: published on the social media platform that Matt is completely 347 00:14:48,720 --> 00:14:51,400 Speaker 1: intended for people that are much younger than you and I, Right, 348 00:14:52,920 --> 00:14:54,440 Speaker 1: I mean, it's it's on the platform that you and 349 00:14:54,480 --> 00:14:57,960 Speaker 1: I haven't engaged with engaged with others on yet we 350 00:14:58,000 --> 00:15:01,040 Speaker 1: have an account, but the there's all oder folks on there. 351 00:15:01,040 --> 00:15:02,760 Speaker 1: But well, maybe we need to get on there and 352 00:15:02,800 --> 00:15:05,880 Speaker 1: start combatting some of the terrible advices going down on TikTok. Maybe, 353 00:15:05,880 --> 00:15:08,600 Speaker 1: so okay, well, so yeah, the young people apparently are 354 00:15:08,600 --> 00:15:12,640 Speaker 1: getting financial advice from ill informed people on TikTok who 355 00:15:12,680 --> 00:15:14,800 Speaker 1: are likely to steer them in the wrong direction on 356 00:15:14,840 --> 00:15:18,440 Speaker 1: everything from like risky ventures like training stock options or 357 00:15:18,600 --> 00:15:22,160 Speaker 1: to selling crappy insurance products that are ill suited for 358 00:15:22,200 --> 00:15:24,480 Speaker 1: most of the people that they're pitching. I'm sure TikTok 359 00:15:24,520 --> 00:15:26,520 Speaker 1: has a lot of like fun, cool dance videos. I 360 00:15:26,520 --> 00:15:28,960 Speaker 1: feel like I've seen some of them. But uh, yeah, 361 00:15:29,040 --> 00:15:32,360 Speaker 1: maybe going to TikTok for financial advice is not the 362 00:15:32,440 --> 00:15:35,680 Speaker 1: best place to turn. It's good for c shanety singalongs, uh, 363 00:15:36,640 --> 00:15:39,440 Speaker 1: maybe not financial news. Uh. And the thing is, like, 364 00:15:39,480 --> 00:15:41,840 Speaker 1: there are some folks on there who are additional good advice. 365 00:15:41,920 --> 00:15:44,080 Speaker 1: You know. They mentioned this eighteen year old kid who 366 00:15:44,120 --> 00:15:47,720 Speaker 1: is promoting the idea of investing early and often, uh, 367 00:15:47,760 --> 00:15:49,920 Speaker 1: in order to get the most out of compounding returns. 368 00:15:49,960 --> 00:15:51,760 Speaker 1: And that is what we are all about. Like we 369 00:15:51,800 --> 00:15:53,880 Speaker 1: can get behind that for sure. But you know, there's 370 00:15:53,880 --> 00:15:55,920 Speaker 1: a strong chance that if you're trying to get a 371 00:15:55,920 --> 00:15:59,480 Speaker 1: personal finance education on a platform like TikTok, where people 372 00:15:59,520 --> 00:16:02,960 Speaker 1: are often promoting themselves or you know, maybe you know 373 00:16:03,000 --> 00:16:05,480 Speaker 1: they're promoting something that they want to sell you. If 374 00:16:05,480 --> 00:16:07,160 Speaker 1: that's the case, then you'll you'll find a fair amount 375 00:16:07,160 --> 00:16:09,960 Speaker 1: of info that's gonna be wrong, uh, misleading, or even 376 00:16:10,360 --> 00:16:13,320 Speaker 1: scammy in nature as well. So, yeah, if you're on TikTok, 377 00:16:13,600 --> 00:16:15,880 Speaker 1: please be aware. All right, Matt, maybe you should strap 378 00:16:15,920 --> 00:16:18,120 Speaker 1: on your financial superhero cape, get on TikTok and save 379 00:16:18,200 --> 00:16:20,080 Speaker 1: the day. What do you think it sounds like a 380 00:16:20,160 --> 00:16:24,400 Speaker 1: role for Joel. We'll consider. Maybe we have the account, 381 00:16:24,480 --> 00:16:26,320 Speaker 1: maybe we'll maybe we'll open it up, fire it up 382 00:16:26,320 --> 00:16:28,160 Speaker 1: and start making content. I mean, if the demand is 383 00:16:28,200 --> 00:16:30,240 Speaker 1: there then maybe so. Yeah, it's it's How the Money Pod, 384 00:16:30,320 --> 00:16:34,320 Speaker 1: because I told you that when I had you know, Yeah, 385 00:16:34,360 --> 00:16:36,400 Speaker 1: I searched how the Money and I swear as some 386 00:16:36,480 --> 00:16:39,600 Speaker 1: kid in India, TikTok is huge in India where it 387 00:16:39,720 --> 00:16:41,560 Speaker 1: was I think before they shut it down, I forget. 388 00:16:41,880 --> 00:16:43,400 Speaker 1: If it's still up and running there, We'll have our 389 00:16:43,440 --> 00:16:46,640 Speaker 1: people call his people. Yeah, make something happen. All right, 390 00:16:46,840 --> 00:16:49,440 Speaker 1: let's move on from our first Ludacer's headline. I will 391 00:16:49,480 --> 00:16:51,240 Speaker 1: hope you can be involved in that in the future 392 00:16:51,440 --> 00:16:54,200 Speaker 1: and talk about something Matt that's almost as detrimental to 393 00:16:54,240 --> 00:16:57,960 Speaker 1: your money as TikTok could potentially be. That's food, the 394 00:16:58,080 --> 00:17:01,280 Speaker 1: livery fees, they're the worst, and Matt, most of us 395 00:17:01,280 --> 00:17:03,080 Speaker 1: I feel like can hop on a bike or jump 396 00:17:03,080 --> 00:17:05,199 Speaker 1: in our car to go pick up dinner instead of 397 00:17:05,320 --> 00:17:08,399 Speaker 1: using the major delivery apps. But instead, so many people 398 00:17:08,440 --> 00:17:11,320 Speaker 1: have opted to hire someone else to bring it to 399 00:17:11,359 --> 00:17:15,800 Speaker 1: their door, and that creates an enormous expense. I've literally 400 00:17:15,960 --> 00:17:18,320 Speaker 1: Matt had food delivered once, and that was because it 401 00:17:18,359 --> 00:17:19,720 Speaker 1: was like a sign up bonus sort of thing, like 402 00:17:19,800 --> 00:17:21,240 Speaker 1: get your first delivery free, and I was like, I'm 403 00:17:21,280 --> 00:17:24,200 Speaker 1: gonna test this thing out. I can't imagine doing it again, though, 404 00:17:24,400 --> 00:17:27,160 Speaker 1: mostly because of the cost. Right, And I just don't 405 00:17:27,200 --> 00:17:29,480 Speaker 1: like my takeout orders costing me an arm and a 406 00:17:29,560 --> 00:17:32,639 Speaker 1: leg because I was just like too lazy to you know, 407 00:17:32,920 --> 00:17:35,560 Speaker 1: drive a mile or two or bike in order to 408 00:17:35,560 --> 00:17:37,879 Speaker 1: to pick up my food. Man, Yeah, cammeal fashioned, but 409 00:17:37,920 --> 00:17:39,720 Speaker 1: I don't think we've ever had fast food or or 410 00:17:39,840 --> 00:17:41,440 Speaker 1: you know, a meal delivered like that to our house. 411 00:17:41,600 --> 00:17:43,720 Speaker 1: We're kind of old fashioned, like that like Dr Quinn 412 00:17:43,720 --> 00:17:46,080 Speaker 1: medicine woman, or Laura Ingles Wilder or something like that, 413 00:17:46,200 --> 00:17:50,159 Speaker 1: starting to fire with sticks, levening our own bread, leaving 414 00:17:50,160 --> 00:17:51,919 Speaker 1: things out to right, you know, all that kind of stuff. 415 00:17:52,000 --> 00:17:55,560 Speaker 1: A shooting food delivery not for me. Yeah. Well, there's 416 00:17:55,680 --> 00:17:58,439 Speaker 1: a Wall Street Journal article that was speaking directly to 417 00:17:58,680 --> 00:18:01,240 Speaker 1: these food delivery fees. Uh. And you know the fees 418 00:18:01,280 --> 00:18:03,080 Speaker 1: that you'll pay when you when you use Uber Eats, 419 00:18:03,119 --> 00:18:06,399 Speaker 1: door Dash, grub Hub, or other similar apps. Man, they 420 00:18:06,440 --> 00:18:08,639 Speaker 1: are completely getting out of hand. You really might be 421 00:18:08,680 --> 00:18:12,040 Speaker 1: spending more on food that you purchase if you choose 422 00:18:12,040 --> 00:18:13,879 Speaker 1: to get it delivered by one of these companies. And 423 00:18:13,880 --> 00:18:17,920 Speaker 1: that's not hyperbole either, And that's literally literally, your forty 424 00:18:17,960 --> 00:18:20,560 Speaker 1: dollars in food could cost you a total of sixty 425 00:18:20,600 --> 00:18:22,639 Speaker 1: dollars if you're if you're using one of these apps. 426 00:18:22,840 --> 00:18:24,800 Speaker 1: And dude, one of the craziest fees we saw is 427 00:18:24,840 --> 00:18:28,280 Speaker 1: that if your order is too small. Uh. If that's 428 00:18:28,320 --> 00:18:30,639 Speaker 1: the case, you might be charged a small order fee, 429 00:18:30,960 --> 00:18:33,399 Speaker 1: which is totally ridiculous. A small sweet tea can you 430 00:18:33,400 --> 00:18:38,240 Speaker 1: even um? So you know, we would recommend for folks 431 00:18:38,320 --> 00:18:41,120 Speaker 1: to skip these apps. And yeah, order take out directly 432 00:18:41,200 --> 00:18:43,800 Speaker 1: from your your favorite local restaurants so that you're eating 433 00:18:43,800 --> 00:18:46,679 Speaker 1: out budget isn't crushed by crazy delivery fees. Uh. And 434 00:18:46,720 --> 00:18:49,480 Speaker 1: it's also too it's better for those specific companies as well, 435 00:18:49,520 --> 00:18:52,960 Speaker 1: because sometimes they have to pay a certain charge as well. Yeah, 436 00:18:52,960 --> 00:18:55,480 Speaker 1: I've noticed some of our local restaurants either having their 437 00:18:55,480 --> 00:18:58,320 Speaker 1: own platform or having a dedicated phone number where you 438 00:18:58,320 --> 00:19:00,679 Speaker 1: can call to place your order. And yeah, you're right, 439 00:19:00,720 --> 00:19:02,720 Speaker 1: I think that these platforms aren't as good for the 440 00:19:02,760 --> 00:19:05,600 Speaker 1: restaurants either, So yeah, they're bad for your finances, bad 441 00:19:05,680 --> 00:19:07,960 Speaker 1: for the restaurant that you love. To uh, just go 442 00:19:08,040 --> 00:19:10,879 Speaker 1: directly to them and go pick it up yourself. Also 443 00:19:10,920 --> 00:19:14,240 Speaker 1: to Matt, he'll obviously save the most money by shopping 444 00:19:14,280 --> 00:19:16,560 Speaker 1: at the grocery store and cooking your own dinner instead 445 00:19:16,560 --> 00:19:19,159 Speaker 1: of using these apps to have your food delivered. And 446 00:19:19,240 --> 00:19:22,160 Speaker 1: grocery stores are teaming up with tech companies to make 447 00:19:22,200 --> 00:19:26,560 Speaker 1: purchasing groceries easier than ever. Kroger is experimenting, actually with 448 00:19:26,640 --> 00:19:28,520 Speaker 1: a high tech grocery cart that lets you skip the 449 00:19:28,560 --> 00:19:30,760 Speaker 1: checkout line. The way it works, apparently, is that you 450 00:19:30,760 --> 00:19:32,800 Speaker 1: you scan the items as you place them in your cart, 451 00:19:32,960 --> 00:19:35,120 Speaker 1: and then what you're done, you're able to pay right 452 00:19:35,119 --> 00:19:37,159 Speaker 1: there at your cart too, which means you don't have 453 00:19:37,200 --> 00:19:39,240 Speaker 1: to wait in the checkout line any longer. And I 454 00:19:39,280 --> 00:19:41,800 Speaker 1: will say, the worst part about the grocery store is 455 00:19:41,880 --> 00:19:45,159 Speaker 1: probably the checkout line. And if Kroger is gonna make 456 00:19:45,200 --> 00:19:47,560 Speaker 1: it easier for me to skip, that make it easier 457 00:19:47,800 --> 00:19:50,360 Speaker 1: to check out without having to even I mean even 458 00:19:50,400 --> 00:19:53,040 Speaker 1: the self checkout. Sometimes that line gets so long and 459 00:19:53,080 --> 00:19:55,640 Speaker 1: I'm just like twidling my thumbs waiting for the chance 460 00:19:55,640 --> 00:19:57,520 Speaker 1: to check out. If I can use one of these carts, 461 00:19:57,600 --> 00:20:00,280 Speaker 1: make it quick and easy, I'm down with that. Yeah, 462 00:20:00,280 --> 00:20:02,480 Speaker 1: that's totally a step in the right direction. Man. And 463 00:20:02,480 --> 00:20:04,919 Speaker 1: the thing is too, like, this shouldn't cause prices to 464 00:20:04,920 --> 00:20:07,800 Speaker 1: go up, right, because generally speaking, technology costs less than 465 00:20:07,920 --> 00:20:10,720 Speaker 1: it costs to hire more employees or new employees. And 466 00:20:10,840 --> 00:20:13,280 Speaker 1: in fact, some of the earlier adopters of this technology 467 00:20:13,280 --> 00:20:16,159 Speaker 1: have found that these carts are even more affordable than 468 00:20:16,240 --> 00:20:19,119 Speaker 1: those self checkout machines. I mean, that's that tends to 469 00:20:19,160 --> 00:20:21,760 Speaker 1: be where I go. If I'm at a grocery store 470 00:20:21,760 --> 00:20:23,840 Speaker 1: that has a self checkout bank, you know, there's normally 471 00:20:23,960 --> 00:20:27,320 Speaker 1: like six or twelve of these like self checkout down 472 00:20:27,440 --> 00:20:29,480 Speaker 1: and it just kind of sometimes they're down. He can't 473 00:20:29,480 --> 00:20:31,920 Speaker 1: be a frustrating experience. Or or if you're buying beer 474 00:20:32,320 --> 00:20:34,199 Speaker 1: and then like the person working has to come over 475 00:20:34,240 --> 00:20:36,560 Speaker 1: and check your idea check, maybe they'll have to do 476 00:20:36,560 --> 00:20:39,160 Speaker 1: that with the cards too, but yeah, or maybe they'll 477 00:20:39,160 --> 00:20:40,959 Speaker 1: include some sort of way that you can, you know, 478 00:20:41,080 --> 00:20:43,040 Speaker 1: scan your I D and then skin your face I 479 00:20:43,560 --> 00:20:46,320 Speaker 1: don't know, retinal scans to to buy beer at the 480 00:20:46,320 --> 00:20:48,720 Speaker 1: grocery store either way that I think grocery stores moving 481 00:20:48,720 --> 00:20:52,440 Speaker 1: in this direction making it easier for us to buy groceries. Uh, 482 00:20:52,480 --> 00:20:54,360 Speaker 1: that's gonna allow us to save money when it comes 483 00:20:54,359 --> 00:20:57,120 Speaker 1: to our food budgets in particular. I'm gonna really look 484 00:20:57,119 --> 00:20:59,439 Speaker 1: forward to when you can, like I don't know, like 485 00:20:59,480 --> 00:21:01,840 Speaker 1: register cart once you show up and if you can 486 00:21:01,960 --> 00:21:04,080 Speaker 1: just walk around the grocery store and have it follow you. 487 00:21:04,520 --> 00:21:07,480 Speaker 1: How amazing would that be? Yeah, it would that'd be nice. 488 00:21:07,520 --> 00:21:09,760 Speaker 1: It's like a little leash following behind you. Like yeah, yeah, 489 00:21:09,760 --> 00:21:12,239 Speaker 1: I don't know, some sort of like digital tether, but 490 00:21:12,320 --> 00:21:14,159 Speaker 1: like just being being able to go right, you know, 491 00:21:14,160 --> 00:21:16,280 Speaker 1: straight to what you want immediately start lookcause sometimes it 492 00:21:16,280 --> 00:21:18,239 Speaker 1: takes you a second to kind of find what you want, 493 00:21:18,320 --> 00:21:20,600 Speaker 1: or if you're looking at produce. But what if you 494 00:21:20,600 --> 00:21:22,840 Speaker 1: can walk straight there it's following you the whole time. 495 00:21:23,040 --> 00:21:24,920 Speaker 1: By the time it arrives, you're you know, you're kind 496 00:21:24,920 --> 00:21:27,920 Speaker 1: of grabbing your produce, bagging in or whatever, throw throw 497 00:21:27,960 --> 00:21:30,520 Speaker 1: there in the cart and automatically driving carts. I like, 498 00:21:31,400 --> 00:21:33,200 Speaker 1: what if they compliment you the whole time too? Oh 499 00:21:33,320 --> 00:21:37,439 Speaker 1: great decisions. See you're loading up on the Veggies'd be like, 500 00:21:37,440 --> 00:21:41,479 Speaker 1: who are you? I like that. Let's talk about just 501 00:21:41,840 --> 00:21:44,359 Speaker 1: something else interestingly tall. This week, a new report from 502 00:21:44,560 --> 00:21:46,760 Speaker 1: you Haul, Yes, you Haul, the place where you go 503 00:21:46,840 --> 00:21:49,320 Speaker 1: to rent a truck so you can move, has come 504 00:21:49,320 --> 00:21:52,520 Speaker 1: out with a new study showing where people are migrating 505 00:21:52,560 --> 00:21:55,040 Speaker 1: to in the United States. Who would know better, of 506 00:21:55,040 --> 00:21:57,720 Speaker 1: course than you all. Uh it's in. Their report shows 507 00:21:57,760 --> 00:22:00,040 Speaker 1: that Tennessee, Texas, and Florida are the hottest states of 508 00:22:00,080 --> 00:22:02,280 Speaker 1: people are moving to right now. This report is based 509 00:22:02,320 --> 00:22:04,560 Speaker 1: on the number of one way you halls entering a 510 00:22:04,600 --> 00:22:08,280 Speaker 1: state versus leaving that state, and Tennessee takes a top spot. Man, 511 00:22:08,320 --> 00:22:10,000 Speaker 1: I feel like that's a good way of measuring. It's like, 512 00:22:10,040 --> 00:22:12,200 Speaker 1: how many you halls do we have coming into the state, 513 00:22:12,240 --> 00:22:14,520 Speaker 1: how many do we have leaving? Therefore you figure out, 514 00:22:14,600 --> 00:22:16,400 Speaker 1: like what states are hot? It makes sense, makes sense 515 00:22:16,400 --> 00:22:21,840 Speaker 1: to me and great methodology. Yeah, so Tennessee, Texas, Florida 516 00:22:22,000 --> 00:22:24,000 Speaker 1: top three and none of them, by the way, have 517 00:22:24,200 --> 00:22:26,440 Speaker 1: a state income tax, so no wonder people want to 518 00:22:26,480 --> 00:22:28,920 Speaker 1: move there. Um, if if you're looking to work remotely 519 00:22:29,040 --> 00:22:31,960 Speaker 1: and are looking to effectively get a pay increase, consider 520 00:22:32,080 --> 00:22:34,920 Speaker 1: moving to a state that doesn't have an income tax. 521 00:22:35,040 --> 00:22:37,199 Speaker 1: And Tennessee is a great choice for so many reasons. 522 00:22:37,200 --> 00:22:39,320 Speaker 1: Matt and Nashville so hot, maybe you want to move 523 00:22:39,320 --> 00:22:41,800 Speaker 1: somewhere else in uh, in Tennessee just because Nashville has 524 00:22:41,840 --> 00:22:44,960 Speaker 1: gotten so expensive because it's been growing so quickly. Seriously. 525 00:22:45,280 --> 00:22:48,199 Speaker 1: But here's the thing too, These states that don't have 526 00:22:48,320 --> 00:22:51,119 Speaker 1: income tax they still have to generate revenues somehow, So 527 00:22:51,160 --> 00:22:53,479 Speaker 1: you're not going to be able to like completely avoid 528 00:22:53,480 --> 00:22:56,119 Speaker 1: taxes if you move to Tennessee. Uh. Some states have, 529 00:22:56,320 --> 00:22:59,880 Speaker 1: you know, either higher tax rates on gasoline or property taxes, 530 00:23:00,400 --> 00:23:03,200 Speaker 1: or they often will have a larger sales tax. Those 531 00:23:03,240 --> 00:23:06,439 Speaker 1: are are popular alternatives two income taxes that help you know, 532 00:23:06,480 --> 00:23:09,080 Speaker 1: these states to fill their coffers. So make sure that 533 00:23:09,119 --> 00:23:12,080 Speaker 1: you're not a big spender if you're considering a moved 534 00:23:12,480 --> 00:23:15,119 Speaker 1: you know that to Nashville, because yeah, Tennessee has the 535 00:23:15,200 --> 00:23:17,760 Speaker 1: highest sales tax out there. It would make a lot 536 00:23:17,800 --> 00:23:19,800 Speaker 1: of sense to like if you knew that you were 537 00:23:19,800 --> 00:23:21,680 Speaker 1: a renter, uh and you know that you're not a 538 00:23:21,720 --> 00:23:24,399 Speaker 1: big spender. Uh. There are certain states that kind of 539 00:23:24,440 --> 00:23:26,639 Speaker 1: reward you for being frugal, right, and so like, if 540 00:23:26,680 --> 00:23:28,720 Speaker 1: you can move to a state whose primary way of 541 00:23:28,760 --> 00:23:31,600 Speaker 1: gathering taxes is based on sales tax and is based 542 00:23:31,600 --> 00:23:34,080 Speaker 1: on property tax. Well, guess what if you don't own 543 00:23:34,119 --> 00:23:36,159 Speaker 1: property and if you don't spend a lot, Tennessee is 544 00:23:36,200 --> 00:23:39,639 Speaker 1: a great place to live. Yeah, no doubt. I think. Actually, 545 00:23:39,760 --> 00:23:42,320 Speaker 1: if you're the most vocal person out there, the ideal 546 00:23:42,320 --> 00:23:45,240 Speaker 1: place to live is on the southern border of Washington State. 547 00:23:45,600 --> 00:23:47,680 Speaker 1: You you live there, you make all your money there, 548 00:23:47,720 --> 00:23:49,800 Speaker 1: and then you go it's just south of the border, 549 00:23:49,840 --> 00:23:52,800 Speaker 1: and you spend all your money in Oregon without having 550 00:23:52,800 --> 00:23:54,640 Speaker 1: to pay any sales tax. I mean, that's the best 551 00:23:54,640 --> 00:23:56,480 Speaker 1: of both worlds right there. Yes, I mean it's similar 552 00:23:56,480 --> 00:23:58,960 Speaker 1: to people who live in Chattanooga. It's like not that 553 00:23:59,000 --> 00:24:01,320 Speaker 1: far on the other side of uh the Tennessee Lions. 554 00:24:01,400 --> 00:24:04,240 Speaker 1: If you live in or live near Chattanigo. But then 555 00:24:04,359 --> 00:24:05,960 Speaker 1: you know, maybe head south of the border, you go 556 00:24:06,040 --> 00:24:09,200 Speaker 1: to Georgia, make your once a month costco run and 557 00:24:09,440 --> 00:24:12,920 Speaker 1: then you're being super frugal. But yeah, these are certainly ways, 558 00:24:12,920 --> 00:24:15,800 Speaker 1: certainly things to consider. I guess if you are going 559 00:24:15,880 --> 00:24:17,840 Speaker 1: to move, obviously we're kind of joking a little bit, 560 00:24:17,840 --> 00:24:20,119 Speaker 1: it might be a little a little overly cheap. If 561 00:24:20,160 --> 00:24:21,800 Speaker 1: that's how you're living in your life. But it truly 562 00:24:21,880 --> 00:24:23,960 Speaker 1: is definitely something to consider if you are going to move, 563 00:24:24,240 --> 00:24:26,959 Speaker 1: realizing that that there are certain states out there where 564 00:24:27,000 --> 00:24:29,480 Speaker 1: your money is going to go further than the other states. Yeah, 565 00:24:29,520 --> 00:24:33,080 Speaker 1: that's true. And again just because for a lot of folks, 566 00:24:33,080 --> 00:24:35,760 Speaker 1: Matt moving has made more sense because of the pandemic, 567 00:24:35,800 --> 00:24:38,760 Speaker 1: because of the ability to work from home. Taking those 568 00:24:38,760 --> 00:24:42,000 Speaker 1: things into consideration, not solely basing your decision based on 569 00:24:42,000 --> 00:24:43,639 Speaker 1: those things, but but taking them into account makes a 570 00:24:43,640 --> 00:24:45,359 Speaker 1: lot of sense. It's definitely a factor. Yeah, all right, 571 00:24:45,640 --> 00:24:47,439 Speaker 1: Speaking of the states people are moving to, let's talk 572 00:24:47,440 --> 00:24:50,160 Speaker 1: about which states have the highest average credit score. According 573 00:24:50,200 --> 00:24:53,480 Speaker 1: to new data from the Credit Bureau Experience, Minnesota comes 574 00:24:53,480 --> 00:24:56,480 Speaker 1: in at number one, trailed closely by Wisconsin, South Dakota, 575 00:24:56,520 --> 00:25:00,080 Speaker 1: and Vermont. All these northern states. And what states have 576 00:25:00,119 --> 00:25:02,920 Speaker 1: the lowest credit scores on average? Yeah, I saw the story. 577 00:25:03,080 --> 00:25:06,520 Speaker 1: Southern states. Sadly, yeah, Mississippi is the state with the 578 00:25:06,560 --> 00:25:10,440 Speaker 1: lowest average credit score at six seventy five. Louisiana, Alabama, 579 00:25:10,440 --> 00:25:12,120 Speaker 1: and Texas are also at the bottom of the heap, 580 00:25:12,359 --> 00:25:15,720 Speaker 1: while our fair state of Georgia is fifth worst. Sadly, yeah, 581 00:25:15,760 --> 00:25:17,359 Speaker 1: that's a little bit of a bummer. But you know, 582 00:25:17,480 --> 00:25:20,520 Speaker 1: how does this information change your approach to your own 583 00:25:20,560 --> 00:25:23,639 Speaker 1: personal finances and and credit standing? Well, you know, we 584 00:25:23,720 --> 00:25:26,040 Speaker 1: mostly just kind of wanted to share this because it's interesting. 585 00:25:26,520 --> 00:25:29,200 Speaker 1: But paying attention to your credit score is it's it's 586 00:25:29,200 --> 00:25:31,720 Speaker 1: it's a key part of having a healthy financial life. 587 00:25:31,720 --> 00:25:34,320 Speaker 1: And so no matter where you live, uh, in the country, 588 00:25:34,359 --> 00:25:36,520 Speaker 1: let's you know, make sure that we're striving for a 589 00:25:36,520 --> 00:25:39,640 Speaker 1: a Minnesota like credit score of seven thirty nine, which 590 00:25:39,680 --> 00:25:42,120 Speaker 1: isn't perfect, but it's definitely good enough. We talked about 591 00:25:42,160 --> 00:25:44,359 Speaker 1: this actually back in episode two eighty seven, where we 592 00:25:44,600 --> 00:25:46,840 Speaker 1: ask the question do I need a perfect credit score? 593 00:25:46,840 --> 00:25:49,240 Speaker 1: And the answer is no, you don't need a perfect 594 00:25:49,240 --> 00:25:50,840 Speaker 1: credit score, but you want to have a good one. 595 00:25:50,880 --> 00:25:52,720 Speaker 1: Do You haven't listened to that episode, uh, and you 596 00:25:52,720 --> 00:25:54,800 Speaker 1: want to find out why it is that credit scores 597 00:25:54,840 --> 00:25:57,560 Speaker 1: are important. Listen back to episode two eighties seven, a 598 00:25:57,640 --> 00:26:01,040 Speaker 1: much more recent episode than eighteen. I thought you referenced 599 00:26:01,080 --> 00:26:03,280 Speaker 1: earlier in the episode. Was I was a little nervous 600 00:26:03,280 --> 00:26:06,280 Speaker 1: Steven do so because yeah, the early days, we've grown 601 00:26:06,280 --> 00:26:08,000 Speaker 1: a lot since then. I mean, we've all made mistakes 602 00:26:08,040 --> 00:26:11,040 Speaker 1: when we're eighteen. Yeah, the thing was, we made those 603 00:26:11,080 --> 00:26:13,680 Speaker 1: episodes when we were in our mid thirties. Still so um, 604 00:26:13,720 --> 00:26:15,680 Speaker 1: but all right, that's gonna do it for this episode. 605 00:26:15,960 --> 00:26:17,960 Speaker 1: For folks who want the show notes and links to 606 00:26:18,000 --> 00:26:19,800 Speaker 1: some of the articles that we talked about on the 607 00:26:19,800 --> 00:26:21,760 Speaker 1: show today, we'll have those up on our website at 608 00:26:21,800 --> 00:26:23,880 Speaker 1: how to money dot com. Yeah, that's right, and that's 609 00:26:23,880 --> 00:26:26,000 Speaker 1: gonna be up for this episode. So everybody out there, 610 00:26:26,040 --> 00:26:27,679 Speaker 1: we hope that you have a great weekend and we 611 00:26:27,720 --> 00:26:29,879 Speaker 1: will see you back here on Monday. We've got a 612 00:26:29,920 --> 00:26:32,840 Speaker 1: great ask how to Money episode lined up, or we're 613 00:26:32,840 --> 00:26:35,199 Speaker 1: going to answer a bunch of listener questions and so 614 00:26:35,280 --> 00:26:38,320 Speaker 1: Joel until next time, Best Friends Out, Best Friends Out.