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

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Speaker 1: Today we're discussing P P P forgiveness, where the jobs

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Speaker 1: are and bacon masks. And Joel, what do we say

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Speaker 1: bacon masks? We're not talking about your new beauty routine

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Speaker 1: where you laid pieces of meat on your face when

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Speaker 1: you go to bed at night. Well, I mean, but

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Speaker 1: then I wake up and it's all gone in the morning.

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Speaker 1: I ate it during my sleep and you have wonderful dreams.

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Speaker 1: That is the story we will talk about in the

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Speaker 1: second half. But real quick man earlier this week was

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Speaker 1: we had a two day prime Amazon Prime Events. Did

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Speaker 1: you get all excited about it? Did you buy a

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Speaker 1: bunch of stuff? You know? I didn't. Actually I bought nothing.

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Speaker 1: UM and Surprize. Actually, I feel like you kind of

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Speaker 1: jumped on the sales. Yeah. I do like a good

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Speaker 1: sale from time to time. UM and other retailers got

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Speaker 1: in on the mix to Target was offering a whole

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Speaker 1: lot of deals. I was on the lookout for a

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Speaker 1: good priced Android cell phone like okay, preferably the Pixel

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Speaker 1: four as what I was hoping for, But I didn't

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Speaker 1: see any discounts and so I don't know. Man, the

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Speaker 1: way the way it's going, I might not get a

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Speaker 1: new phone until it's like the Pixel twenty nine eight

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Speaker 1: or something like that. You and I are both holding

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Speaker 1: out on getting new cell phones. Mine. I feel like

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Speaker 1: it's limping along, but I will cross that finish line.

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Speaker 1: We'll continue to work at some point. Same here, and

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Speaker 1: there was just nothing else it was on sale where

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Speaker 1: I was like, oh, I need that or I want that,

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Speaker 1: and there's just not much I need. Yea. I barely

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Speaker 1: was keeping an eye on it. I feel like a

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Speaker 1: lot of times with big sales like this or these

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Speaker 1: big marketing efforts. I don't know if it's because of

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Speaker 1: my personality or if other people feel this way too,

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Speaker 1: but I tend to do the opposite of what I'm

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Speaker 1: supposed to do. I'm just kind of hard headed and

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Speaker 1: so like, I see that and I think, oh, that's

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Speaker 1: just overblown, Like there's not gonna be any real deals

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Speaker 1: out there. But I do think there's some truth there, right.

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Speaker 1: Like you, if you're looking for for a deal, you're

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Speaker 1: looking for sales and they show you how much is

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Speaker 1: the mark down, and you think, oh, this is a

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Speaker 1: pretty good opportunity, uh for me? I saw like this

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Speaker 1: alarm clock thing, Like one of the things that the

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Speaker 1: algorithms fed me was this uh daylight alarm clock. Uh

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Speaker 1: And basically instead of an alarm going off, I think

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Speaker 1: it just kind of gets brighter brighter. It's like literally

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Speaker 1: it's round and it looks like the sunrising. And I thought, oh,

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Speaker 1: I want that. That was something that I considered getting.

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Speaker 1: But did I need that? Was I looking for that? No?

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Speaker 1: But I kind of caught myself going down that direction.

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Speaker 1: And so if you're looking for something specifically, if you

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Speaker 1: know that you want to buy something, yeah, like you said,

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Speaker 1: it's good to keep it out for a deal. You

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Speaker 1: knew that you're looking for a cell phone, that's great.

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Speaker 1: Otherwise I'm afraid by exposing yourself to all these different deals,

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Speaker 1: you're not necessarily going to fall into the trap of

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Speaker 1: buying something. Yeah, you're gonna fall into the trap of

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Speaker 1: being sold something you know exactly. They're they're going to

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Speaker 1: get you with the deal. And this isn't something that

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Speaker 1: you needed before, it's not something you necessarily in need now.

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Speaker 1: But we do get so excited about you know, Prime

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Speaker 1: Day in particular. Yeah, yeah, for sure, And yeah, I

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Speaker 1: think it is good for us to kind of trying

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Speaker 1: to curb the influence of the sale mentality and constantly

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Speaker 1: having things strown in our face that we don't need.

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Speaker 1: It just become so easy to add some of your

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Speaker 1: card or one click to buy it, lightning deal, lightning

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Speaker 1: deals like all that stuff. Man, it's all primed to

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Speaker 1: get us to spend more than we want to on

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Speaker 1: stuff that we don't really even care about. Exactly avoid

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Speaker 1: it when you can. And uh, Matt, let's get onto

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Speaker 1: our Friday flight. A sampling of stories that we found

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Speaker 1: interesting this week. And speaking of Amazon, which originally the

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Speaker 1: way they get started was selling books online right originally

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Speaker 1: online bookstore and now they sell everything literally. Uh. If

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Speaker 1: you're looking for a great way to support your local

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Speaker 1: bookstore right now though, instead of getting your books from

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Speaker 1: a giant retailer in a particular, if you don't want

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Speaker 1: to shop in person right because a lot of people

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Speaker 1: don't want to go into a retail location, check out

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Speaker 1: a website called bookshop dot org. The way it works.

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Speaker 1: If you're a local bookstore that doesn't do e commerce. Um,

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Speaker 1: if you're not able to order a specific book from

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Speaker 1: from your bookstore for whatever reason, you can order that

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Speaker 1: book via their shop on Bookshops website. Then your local

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Speaker 1: bookstore doesn't have to worry about inventory and shipping, and

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Speaker 1: they get of the cover price, which is evidently the

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Speaker 1: entire profit margin on the books. So it's really cool

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Speaker 1: a website with a really great mission. It's all about

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Speaker 1: helping these indie bookstores be able to sell books and

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Speaker 1: make revenue with an awesome online presence. Yeah, our local

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Speaker 1: bookshop in the a v Or East land of village

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Speaker 1: uh is bookish. They're even on their man, which is

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Speaker 1: pretty cool. You know. We have seen some folks criticized

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Speaker 1: Bookshop though, just as you know, being another online competitor

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Speaker 1: right as as not being all that different from Amazon itself.

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Speaker 1: But again, their mission is to see the success of

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Speaker 1: indie bookstores and to kind of back that up, they

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Speaker 1: also give ten percent of all sales uh to local

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Speaker 1: bookshops every six months. Uh. It's almost they kind of

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Speaker 1: pay that out almost like a dividend. And so regardless

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Speaker 1: if you purchase that book through your local bookshops page

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Speaker 1: on Bookshop, all the book sales across the site, ten

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Speaker 1: percent of that gets paid out. And that's just yeah,

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Speaker 1: that's just awesome, Like that's not something that Amazon would do, right,

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Speaker 1: It's other miss is clear. Uh, you know, they are

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Speaker 1: looking to support these small businesses, but at the same time,

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Speaker 1: you get the conveniences of being able to shop online

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Speaker 1: and essentially defined any book that you're looking for. So

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Speaker 1: we actually even set up our own page up there

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Speaker 1: on bookshop dot org, and we're gonna start listing out

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Speaker 1: all the books of the authors who we have on

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Speaker 1: our show, you know, when we have interviews, and so

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Speaker 1: in case you're ever wanting to know what was that

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Speaker 1: book or what are some books that we've talked about

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Speaker 1: on the show in the past, you'll be able to

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Speaker 1: go there. Will make sure to link to that page

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Speaker 1: on our show notes. Yeah, for sure. All right, Matt,

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Speaker 1: let's talk about p p P loan forgiveness. Right. If

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Speaker 1: you're a small business owner who's listening to the show

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Speaker 1: and you received a p p P loan back in

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Speaker 1: the spring, and you're not quite sure how to apply forgiveness,

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Speaker 1: well you're not alone. There's a lot of but a

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Speaker 1: lot of confusion surrounding that. And the good news is

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Speaker 1: that it did just get easier to apply for forgiveness

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Speaker 1: for that loan. It took way too long to get

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Speaker 1: guidance from the Treasury Department on this. But now there

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Speaker 1: is some good news. If you received a loan of

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Speaker 1: fifty dollars or less, you're now allowed to self certify

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Speaker 1: that you use the money appropriately. Basically, you can use

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Speaker 1: the new form s for your application, or you can

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Speaker 1: ask your lender to update your info into portal. But

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Speaker 1: a lot of people were worried about the intense amount

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Speaker 1: of paperwork that it would require to get forgiveness for

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Speaker 1: these loans. And it looks like, at least for people

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Speaker 1: that took out smaller loans, um, it's actually gonna be

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Speaker 1: pretty simple in order to get that loan forgiven. You

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Speaker 1: actually looked at the form, it's a one pager and

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Speaker 1: literally literally all you have to do is just initial

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Speaker 1: and sign. That's pretty that's pretty great. Yeah, that's great,

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Speaker 1: And there's good reason, you know, for them rolling this

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Speaker 1: out right. The the s b A they have received

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Speaker 1: nineties six thousand forgiveness applications to date, uh and they

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Speaker 1: have reviewed none of them. The s b A is slackers.

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Speaker 1: They they they said that they're gonna start reviewing these applications shortly.

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Speaker 1: You know what that means. It means they're like, we're

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Speaker 1: never gonna get to this. Uh. And so this move

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Speaker 1: will will give the s B A a smaller burden

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Speaker 1: when it comes to overseeing forgiveness applications, and it makes

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Speaker 1: it easier for a decent number of small business owners

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Speaker 1: to have their PPP loan forgiven. I will say when

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Speaker 1: I say shortly um, usually in regards to chores, it

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Speaker 1: means probably never. Uh maybe once everyone's asleep. I don't

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Speaker 1: know exactly. Yeah, but that is good news for small

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Speaker 1: business owners that they have an easier path um to

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Speaker 1: to forgiveness if they had a smaller PPP loan that

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Speaker 1: they took out. All right, Matt onto the next story.

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Speaker 1: And this one involves something that's been I feel like

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Speaker 1: happening to me personally. I wonder if other people are

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Speaker 1: experiencing this. I've gotten a lot of random cash app

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Speaker 1: request for money recently. I use the cash app oftentimes

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Speaker 1: just to transfer friends money back and forth for splitting

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Speaker 1: a meal or a tenant can pay rent that way.

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Speaker 1: But I'm getting like random people saying give me two

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Speaker 1: hundred bucks or fifteen bucks or whatever it is. So

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Speaker 1: I decline and block these every time, but it's getting old, Like,

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Speaker 1: have you had that happened to you? I have actually

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Speaker 1: done that to you one time. I create a bunch

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Speaker 1: of fake accounts because I know you got those deep pockets.

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Speaker 1: Oh nice, Oh that's why it's happening. Okay, No, I

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Speaker 1: actually literally have never had that happen to me. It's

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Speaker 1: it's kind of interesting that you do. But that being said,

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Speaker 1: I know that your handle is a little more uh universal, Yeah, yeah, yeah,

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Speaker 1: And so I guess as scammers are kind of like

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Speaker 1: thinking through different names and ways to easily change that

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Speaker 1: name and to kind of move on to the next

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Speaker 1: person kind of show up on that list. Probably what

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Speaker 1: I'm getting on, right, But you know, it's interesting. There

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Speaker 1: was an article in the New York Times, and it

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Speaker 1: made it sound like, what's happening to me? These like

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Speaker 1: fake requests for money from people that I don't even

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Speaker 1: know is part of a bigger problem with these payment

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Speaker 1: platforms like Venmo and cash app. A couple of giant

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Speaker 1: security firms mentioned in that New York Times article. They

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Speaker 1: stated that fraud rates on these apps are like three

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Speaker 1: to four times higher than on payment methods like debit

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Speaker 1: and credit cards. So for our listeners out there, it's

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Speaker 1: just really important to be careful using these apps and

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Speaker 1: only pay people that you know with them. And Matt

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Speaker 1: I was actually heartened the other day. I used Venmo

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Speaker 1: to pay somebody that I've never paid before, and Venmo

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Speaker 1: asked me to input the last four digits of that

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Speaker 1: person's phone number, basically saying like, are you in person

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Speaker 1: paying paying that this person that you've never paid before,

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Speaker 1: or you're not friends you don't have any friends in

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Speaker 1: common if not, be careful like and and so yeah

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Speaker 1: that I think these apps are starting to up ramp

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Speaker 1: up their their security precautions um, and that's good to see.

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Speaker 1: I would also say there are other ways to to

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Speaker 1: currently increase precautions on your end, So you can set

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Speaker 1: up a pin or a fingerprint reader on the cash app,

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Speaker 1: put as many precautions in place as you can, and

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Speaker 1: hopefully these companies right like Venmo cash app will do

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Speaker 1: the same thing and kind of start cracking down on

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Speaker 1: the fraud that's occurring on their platforms. By the way,

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Speaker 1: was that Venemo payment that you're going to send out

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Speaker 1: was that a class parent? No? No, it wasn't. It wasn't. Okay,

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Speaker 1: we because that we did that recently to one of

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Speaker 1: our daughter's class parent. They were requesting money to get

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Speaker 1: funds together for gifts for the teacher that they normally

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Speaker 1: do like at Christmas, at their birthday and then maybe

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Speaker 1: like a year end present, that kind of thing, which

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Speaker 1: it makes me wonder, like, how do you feel about that?

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Speaker 1: Because this isn't a class parent that I know in

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Speaker 1: particular this year, we haven't had a chance to meet

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Speaker 1: hardly anybody in parents and it's just like, send a

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Speaker 1: bunch of money to this person. Uh, and you kind

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Speaker 1: of have to just try kind of go along with it.

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Speaker 1: But I do wonder in the back of my mind

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Speaker 1: there's like a just a tiny shred of doubt where

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Speaker 1: I'm just like, oh, like, who who's overseeing this? You know? Yeah,

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Speaker 1: and I'll agree it's a little weird, but yeah, I

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Speaker 1: think that's what you have to do is trust that

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Speaker 1: that person in the class parents is handling things. Well.

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Speaker 1: I will say, my vendmo money I was sending. Sure, Yeah,

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Speaker 1: what was your sport? It was to a neighbor who, um,

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Speaker 1: their restaurant. They got out of the restaurant business in May,

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Speaker 1: like um, a lot of other you know, restaurant tours

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Speaker 1: it's been a hard time and they are cooking meals

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Speaker 1: out of their kitchen for neighbors, like multiple times, meals

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Speaker 1: on mercer Yeah yeah, okay, so it's just cool, like

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Speaker 1: to be the same thing. I didn't know y'all did that. Yeah,

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Speaker 1: to buy buy food from them and support support him

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Speaker 1: and their family. Yeah, so just kind of a cool

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Speaker 1: thing to do. Yeah, that's super cool. Man. There's another

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Speaker 1: local Indian restaurant as well, and I guess their doors

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Speaker 1: have been closed as well. That the guy that owns it,

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Speaker 1: he lives lest in a mile from our house. And

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Speaker 1: so Kate had signed up for like this whole meal package.

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Speaker 1: Uh and of course she paid via Venmo or cash

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Speaker 1: app and just kind of drove by. He had a

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Speaker 1: sweet little table set up like and he had on

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Speaker 1: like his official shirt. Uh. So there's like zero question

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Speaker 1: as to how legit this thing was. Like he gets

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Speaker 1: to pull up, he had the sealed box for you,

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Speaker 1: and you just told the order number and just handed

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Speaker 1: it over. Super smooth transaction. Man. I was like, I

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Speaker 1: was really impressed with the ingenuity that restaurant tours are

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Speaker 1: are going through these days. Again, these apps, they provide

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Speaker 1: a lot of convenience. They're really cool, Like I use them,

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Speaker 1: but I just want to see them become safer for

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Speaker 1: people to use. Yeah. Absolutely, Um, And you know, while

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Speaker 1: there's there's more fraud happening on vimo and cash app,

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Speaker 1: scammers fishing for your personal information in order to get

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Speaker 1: your money, like that isn't anything new, but we are

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Speaker 1: seeing it crop up in different apps that we are

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Speaker 1: now using. Right, it's been it's been happening with investors

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Speaker 1: robin Hood accounts that are getting cleaned out. And in

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Speaker 1: most of these cases, it's not because of some security breach. Uh,

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Speaker 1: it's not the app or the website's fault. A lot

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Speaker 1: of times the responsibility lies within the user, right, And

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Speaker 1: so like, how do you avoid getting scammed? Well, don't

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Speaker 1: give personal information to anyone reaching out to you directly, right,

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Speaker 1: if you think it's a legitimate request, well, we would

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Speaker 1: recommend for you to go directly to the site or

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Speaker 1: directly to the app and then update any you know,

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Speaker 1: needed information that way. If it seems that they don't

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Speaker 1: have updated information, just definitely don't reply to a text

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Speaker 1: or an email asking for that that sensitive information. Right, Yeah,

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Speaker 1: I mean I'm at the point now to or even

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Speaker 1: if I receive an email from an establishment, from a

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Speaker 1: bank or somebody who I do business with. Even when

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Speaker 1: I go up and click the email address and it

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Speaker 1: looks kind of legit, sometimes they've got least weird subdomains

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Speaker 1: on there, and I'm like, I don't know, that looks

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Speaker 1: a little bit fishy. I will still just go into

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Speaker 1: my browser and type in myself, uh and log in

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Speaker 1: that way, and then go to my account or go

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Speaker 1: to my profile and then look for the notification to

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Speaker 1: make sure that things are taken care of that way. Yeah,

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Speaker 1: that that's a that's a good way to do it.

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Speaker 1: I think when you click on anything in an email,

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Speaker 1: even if it looks like it's a legitimate email address,

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Speaker 1: you are putting yourself at risk, and you're putting your

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Speaker 1: money at risk, and so better to be safe and sorry,

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Speaker 1: better to go directly to the website itself and update

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Speaker 1: anything that needs to be updated there um, and not

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Speaker 1: clicking on a link right um. So yeah, definitely something

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Speaker 1: to watch out for if you use those apps, and

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Speaker 1: just in general, right with with all the platforms that

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Speaker 1: we that we have to log into consistently, Matt, there

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Speaker 1: was another interesting story this week. It turns out a

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Speaker 1: federal judge in Illinois ruled last week that a potential

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Speaker 1: class action lawsuit against the National Association of Realtors and

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Speaker 1: four major brokerage companies could proceed. The lawsuit, actually, it

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Speaker 1: calls into question the compensation model for realtors and the

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Speaker 1: anti competitive practices taken to achieve that compensation. This means

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Speaker 1: that the pay model for real estate agents could be

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Speaker 1: upended at some point in the future. And Matt, you

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Speaker 1: and I were fans of real estate agents, Like we've

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Speaker 1: talked about how much value they can bring to the

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Speaker 1: home buying process, right, But I guess that the question

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Speaker 1: is are they worth a total of six percent of

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Speaker 1: the sale price of a home? Yeah, that's a lot

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Speaker 1: of money, it is. And on top of that, the

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Speaker 1: Consumer Federation of America found in report last year that

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Speaker 1: most people they just don't understand the compensation model and

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Speaker 1: the costs that they're going to incur when working with

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Speaker 1: an agent. The costs are a little more hidden, and

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Speaker 1: I think if they were a little more upfront, we

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Speaker 1: were paying people directly out of pocket, paying an agent

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Speaker 1: directly out of pocket, and the price tag was in

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Speaker 1: the you know, five eight ten dollar price range, we

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Speaker 1: might balk a little bit more. But because it's buried

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Speaker 1: as a percentage at the closing table, it's something that

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Speaker 1: most people don't even understand. They don't even know how

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Speaker 1: much money their agent is getting paid. And it sounds

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Speaker 1: like this compensation model, well, there's a chance that it's

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Speaker 1: not going to hang around for forever. Yeah, And I'm

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Speaker 1: not going to argue that realtors shouldn't exist, right, but

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Speaker 1: I think things are changing a little bit, right. I mean,

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Speaker 1: like showings look a lot different these days, Like there

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Speaker 1: are a lot fewer in person showings. Gone are the

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Speaker 1: days where you're writing around with your with your real

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Speaker 1: estate agent on a Saturday morning and they're they're taking

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Speaker 1: you to ten properties, you know, like that's just not

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Speaker 1: how it works anymore. And then on top of that suite,

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Speaker 1: just the the information that is available to us, Like

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Speaker 1: it used to be where you didn't know what houses

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Speaker 1: were listed, but with sites like redfin, with sites like

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Speaker 1: like Zillo, you can easily see the different properties that

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Speaker 1: are listed out there, and it kind of raises the question,

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Speaker 1: like what am I actually paying for when it comes

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Speaker 1: to a realtor, right, and you're still paying for a lot.

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Speaker 1: Let's be honest, like that you are getting a whole

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Speaker 1: lot of service. It's just that there they have been

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Speaker 1: able to slip them down some of the things that

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Speaker 1: they offer to you. It is less physical right of

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Speaker 1: of having to to be with you all day on

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Speaker 1: a Saturday. And yeah, I think the compensation model is

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Speaker 1: ripe for changing. And it's start updating already starting to happen, right, yeah, yeah,

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Speaker 1: So you know, let's quickly the talk about a couple

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Speaker 1: of ways that you can potentially lower those important and

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Speaker 1: expensive costs of buying and selling a home. Right, I

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Speaker 1: just mentioned Redfin, but they are an awesome online brokerage

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Speaker 1: platform that charges a one and a half percent listing

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Speaker 1: fee two sellers, and they even will lower the fee

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Speaker 1: to one percent if the seller also buys a home

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Speaker 1: on Redfin within a year. And you can also go

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Speaker 1: the PHYSBO route right for sale by owner. Both of

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Speaker 1: these routes come with trade offs though, especially you know,

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Speaker 1: trying to list a home by yourself, but it could

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Speaker 1: be worth it considering the many thousands of dollars that

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Speaker 1: you could save. And dude, you can even reach out

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Speaker 1: to you know, some different agents and try to negotiate

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Speaker 1: their their price, you know, instead of a percentage of

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Speaker 1: the total sale, maybe see if they would be willing

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Speaker 1: to help you purchase a home for maybe a flat

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Speaker 1: fee instead. I think a lot of agents are gonna

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Speaker 1: balk at that, they're gonna dismiss that proposal. But I

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Speaker 1: think a lot of others might be a little more

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Speaker 1: willing given the changing landscape, you know, given how things

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Speaker 1: are a lot different than they used to be. Yeah, Matt,

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Speaker 1: I've got a friend and she was recently selling a

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Speaker 1: rental home that she owns up in Wisconsin and the

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Speaker 1: tenants that lived there, We're going to buy the place.

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Speaker 1: And because like so much of the deal was essentially

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Speaker 1: already done, there wasn't really a need for a realtor

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Speaker 1: to come in, especially with the amount of competition they

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Speaker 1: were going to receive. It was gonna be it was

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Speaker 1: gonna be prohibitive, right, And so she reached out to

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Speaker 1: an agent and specifically negotiated a flat dollar amount to

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Speaker 1: help with the transaction, and it worked. I think. Yeah,

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Speaker 1: I think, especially if you've done some of the work

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Speaker 1: that an agent would traditionally have to do, it does

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Speaker 1: help your case to ask for a lower payment. Amount.

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Speaker 1: So yeah, that's worth considering. But it's interesting and we'll

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Speaker 1: keep our eyes on on that case because it does

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Speaker 1: impact everyone who's buying or selling a home at any

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Speaker 1: point in time. All Right, Matt, we got more to

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Speaker 1: get to, including where the jobs are at right now

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Speaker 1: and bake in masks, and we'll get to those right

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Speaker 1: after this break. All right, we're back from the break, Matt.

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Speaker 1: Now it's time to talk about bacon masks. I know

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Speaker 1: when I mentioned I wanted to talk about this today,

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Speaker 1: You're like talking about it really, are you sure? I

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Speaker 1: don't know. I'm gonna have to trust you, Okay, So

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Speaker 1: I just thought it was interesting. One, this is a

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Speaker 1: free me You can get a free mask, and people

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Speaker 1: are all about you know, we gotta wear masks right now,

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Speaker 1: so a free backup mask is a great thing to have. Well,

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00:17:33,600 --> 00:17:37,800
Speaker 1: now through October, you can go to Breathable Bacon dot

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Speaker 1: com and you can request one of these free masks.

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Speaker 1: There are ten thousand available and yes, they smell like bacon.

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Speaker 1: I know, bacon, um no, no, no, no, actual bacon

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Speaker 1: was harmed in the making of these masks. I know

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Speaker 1: for some people that sounds like pretty awesome. They're like cool,

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Speaker 1: massive smells like bacon, and probably other people are throwing

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Speaker 1: up in their mouth a little bit right now as

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Speaker 1: I say that, But I thought it was unique. It

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Speaker 1: was kind of any um and and so this uh

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Speaker 1: is a promotion put on by Hormel. And the coolest

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Speaker 1: part of this is that for every mask request that's

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Speaker 1: sent in through that website, Hormel is going to donate

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Speaker 1: one meal to Feeding America. So you kind of gotta love,

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Speaker 1: like what's behind it if you go to that website.

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Speaker 1: It's just kind of goofying over the top, but it's

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Speaker 1: for a good cause, so I thought it was worth

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Speaker 1: bringing up. Yeah, here on the side it says don't

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Speaker 1: just eat bacon inhale it, which, yeah, like that's just

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Speaker 1: gross man. Like I'm guessing that these things uh smell

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Speaker 1: like bacon bits, which as a kid, I was all about. Man.

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Speaker 1: I would put bacon bits on everything that my parents

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Speaker 1: would allow me to or sometimes even not allow me

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Speaker 1: to to. Classic for that. Now now, dude, that just

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Speaker 1: totally grosses me out. Um. Which, by the way that

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Speaker 1: we're talking about bacon, I'm thinking about Aldi. Have you

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Speaker 1: had the Appleton Farms bacon from Aldi? I have it's

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Speaker 1: been a while, but really good quality stuff. I guess

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Speaker 1: I just don't want folks thinking that we're like bacon

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Speaker 1: snobs here. Uh, you know, specifically mentioning a brand name. No, man,

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Speaker 1: the Aldi Bacon, that's where it's at. I'm all for

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Speaker 1: private label bason. Dude. Alright, well, you and I we

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Speaker 1: saw that Delta. They lost five billion dollars in Q

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Speaker 1: three this year, and it looks like it's a lot

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Speaker 1: of money for local Atlantic company. Seriously. Uh. And on

428
00:19:09,640 --> 00:19:11,200
Speaker 1: top of that, looks like there's gonna be a pilot

429
00:19:11,240 --> 00:19:14,680
Speaker 1: furlough coming up here next month. Clearly, the airlines are

430
00:19:14,720 --> 00:19:17,200
Speaker 1: having a rough time, but one of the areas where

431
00:19:17,200 --> 00:19:21,480
Speaker 1: they are doing well is within their frequent flyer miles programs. Uh.

432
00:19:21,720 --> 00:19:24,840
Speaker 1: United Airlines. They estimate that the value of their miles

433
00:19:24,840 --> 00:19:28,720
Speaker 1: program is twenty one billion dollars, which is about two

434
00:19:28,720 --> 00:19:32,520
Speaker 1: times what United is valued at on the stock market. Dude,

435
00:19:32,600 --> 00:19:35,240
Speaker 1: that is insane. This one program is looks to be

436
00:19:35,280 --> 00:19:39,080
Speaker 1: worth double what the entire actual company is um So,

437
00:19:39,280 --> 00:19:42,040
Speaker 1: too many airline card holders are are carrying balances and

438
00:19:42,119 --> 00:19:45,400
Speaker 1: not taking advantage of benefits. That's why these these programs

439
00:19:45,440 --> 00:19:47,879
Speaker 1: are so profitable and that's a problem. Yeah. So so

440
00:19:47,920 --> 00:19:49,639
Speaker 1: if this is you, if you do have um a

441
00:19:49,680 --> 00:19:52,800
Speaker 1: lot of frequent flyer miles that you're just hanging onto

442
00:19:52,960 --> 00:19:54,560
Speaker 1: and you're not sure what to do with them, well

443
00:19:54,600 --> 00:19:56,760
Speaker 1: it's time to start kind of paying attention to what's

444
00:19:56,800 --> 00:20:00,359
Speaker 1: happening with the frequent flyer mile programs from these air airlines.

445
00:20:00,800 --> 00:20:03,280
Speaker 1: In particular, it's important to check the expiration date on

446
00:20:03,320 --> 00:20:05,840
Speaker 1: some of these some of these miles, some airlines have

447
00:20:06,119 --> 00:20:09,919
Speaker 1: just proactively extended the expiration date, which is great, especially

448
00:20:09,960 --> 00:20:12,240
Speaker 1: with so many people not flying right now. But but

449
00:20:12,320 --> 00:20:14,280
Speaker 1: others haven't done that. Right, so you might need to

450
00:20:14,280 --> 00:20:17,400
Speaker 1: make a purchase in order to extend that expiration deadline.

451
00:20:17,600 --> 00:20:20,080
Speaker 1: But it doesn't necessarily have to be the purchase of

452
00:20:20,080 --> 00:20:23,000
Speaker 1: a plane ticket or travel, right. You could potentially give

453
00:20:23,119 --> 00:20:25,400
Speaker 1: miles to a friend. If you've got a friend who's

454
00:20:25,400 --> 00:20:28,399
Speaker 1: looking at book travel and you're overflowing with unusable miles,

455
00:20:28,680 --> 00:20:30,520
Speaker 1: book their ticket with some of the extra ones that

456
00:20:30,560 --> 00:20:33,399
Speaker 1: you've got. There are also other ways to use those miles.

457
00:20:33,440 --> 00:20:37,000
Speaker 1: Oftentimes they offer like a magazine subscription or something like that,

458
00:20:37,240 --> 00:20:40,800
Speaker 1: and sometimes just that one purchase can push back the

459
00:20:40,800 --> 00:20:43,480
Speaker 1: expiration date a whole Another year, um and so yeah,

460
00:20:43,520 --> 00:20:45,760
Speaker 1: if you feel uncomfortable book can travel, it might make

461
00:20:45,760 --> 00:20:47,639
Speaker 1: sense to use them in some way form or fashion

462
00:20:47,680 --> 00:20:50,560
Speaker 1: to extend that deadline so that you're not losing a

463
00:20:50,600 --> 00:20:53,359
Speaker 1: bunch of miles that are that are otherwise still going

464
00:20:53,440 --> 00:20:55,560
Speaker 1: to be good at some point for you in the future. Yeah,

465
00:20:55,560 --> 00:20:56,880
Speaker 1: and if you aren't doing a whole lot of travel

466
00:20:56,920 --> 00:20:59,399
Speaker 1: these days, which a lot of this aren't, another consideration

467
00:20:59,480 --> 00:21:01,399
Speaker 1: is to switch from, you know, one of these co

468
00:21:01,520 --> 00:21:04,639
Speaker 1: branded airline miles cards to to one that just offers

469
00:21:04,680 --> 00:21:06,639
Speaker 1: cash back. For a lot of folks these days, you

470
00:21:06,680 --> 00:21:09,040
Speaker 1: know that the simpler cash back option is likely going

471
00:21:09,080 --> 00:21:11,479
Speaker 1: to be better. I've mentioned, you know before how much

472
00:21:11,520 --> 00:21:13,960
Speaker 1: I like the Blue Cash Preferred card that you know,

473
00:21:14,160 --> 00:21:16,520
Speaker 1: they give six percent cash back on all grocery stores

474
00:21:16,880 --> 00:21:20,240
Speaker 1: and streaming subscriptions as well three percent cash back on gas.

475
00:21:20,560 --> 00:21:21,880
Speaker 1: Uh and on top of that, man, I just saw

476
00:21:21,920 --> 00:21:25,000
Speaker 1: they've got a new promotion where they are waving their

477
00:21:25,040 --> 00:21:27,440
Speaker 1: annual fee, which is ninety five bucks. So typically that's

478
00:21:27,600 --> 00:21:29,600
Speaker 1: the like, like, that's what kept me from getting this

479
00:21:29,640 --> 00:21:31,399
Speaker 1: card for years, because I was just like, ah, I

480
00:21:31,440 --> 00:21:33,560
Speaker 1: don't want to deal with annual fee. But it took

481
00:21:33,800 --> 00:21:35,520
Speaker 1: you know what, thirty seconds for me to kind of

482
00:21:35,560 --> 00:21:37,639
Speaker 1: calculate and realize that I would more than you know,

483
00:21:37,720 --> 00:21:41,000
Speaker 1: receive the benefit from that card by paying that annual fee. Well,

484
00:21:41,080 --> 00:21:44,680
Speaker 1: right now, up until December ten, they're gonna wave that

485
00:21:44,760 --> 00:21:47,719
Speaker 1: ninety dollar annual fee for an entire year. And so

486
00:21:47,800 --> 00:21:50,800
Speaker 1: if you've considered getting that card because you hear me

487
00:21:50,800 --> 00:21:52,840
Speaker 1: talk about it so often because I love it, uh,

488
00:21:52,840 --> 00:21:55,520
Speaker 1: then now is definitely the time for you to do that. Nice. Yeah,

489
00:21:55,560 --> 00:21:58,040
Speaker 1: it's it's on our list of best credit cards for

490
00:21:58,040 --> 00:22:00,639
Speaker 1: how people spend, and people can can on that article

491
00:22:00,720 --> 00:22:02,440
Speaker 1: on our website. Will also put it in the show notes.

492
00:22:02,480 --> 00:22:05,080
Speaker 1: But yeah, it's it's one of those cards that, in particular,

493
00:22:05,160 --> 00:22:07,720
Speaker 1: if you have a family and you spend a decent

494
00:22:07,720 --> 00:22:09,840
Speaker 1: amount of groceries and we're all spending more on groceries

495
00:22:09,880 --> 00:22:12,000
Speaker 1: these days, it gives more cash back at the grocery

496
00:22:12,000 --> 00:22:14,080
Speaker 1: store than any other card out there. Um, and no

497
00:22:14,200 --> 00:22:15,960
Speaker 1: annual feet just makes it like a slam dunk for

498
00:22:16,240 --> 00:22:18,560
Speaker 1: a lot of people. All Right, Matt, let's talk more

499
00:22:18,600 --> 00:22:21,399
Speaker 1: about the travel industry. It's not the best place to

500
00:22:21,400 --> 00:22:24,120
Speaker 1: be looking for work these days, right, I mean, um, sadly,

501
00:22:24,400 --> 00:22:27,680
Speaker 1: there are just a lot of of pilots, flight attendants,

502
00:22:27,680 --> 00:22:29,560
Speaker 1: a lot of people who work for airlines and in

503
00:22:29,600 --> 00:22:31,680
Speaker 1: other parts of the travel industry that are having a really,

504
00:22:31,680 --> 00:22:34,240
Speaker 1: really hard time. And it's tough to see. But but

505
00:22:34,320 --> 00:22:36,800
Speaker 1: let's talk about where the jobs are at right now,

506
00:22:36,920 --> 00:22:39,840
Speaker 1: right that the sectors that are doing really well while

507
00:22:39,840 --> 00:22:42,560
Speaker 1: the economy is kind of still in a lull overall,

508
00:22:43,280 --> 00:22:45,800
Speaker 1: Since refinances are are booming right now, right as the

509
00:22:45,920 --> 00:22:50,000
Speaker 1: rates have just gone down precipitously, mortgage processors and loan

510
00:22:50,119 --> 00:22:52,880
Speaker 1: underwriters are jobs that are in massive demand right now.

511
00:22:53,160 --> 00:22:55,840
Speaker 1: By the way, no college degree is required typically for

512
00:22:55,880 --> 00:22:58,399
Speaker 1: a lot of these jobs, So looking in particular to

513
00:22:58,440 --> 00:23:00,639
Speaker 1: work for a company the doing a whole lot of

514
00:23:00,680 --> 00:23:04,320
Speaker 1: business in mortgages is a great place to turn for

515
00:23:04,320 --> 00:23:07,120
Speaker 1: for work. Not one of our favorite companies, Fideli. They're

516
00:23:07,200 --> 00:23:10,879
Speaker 1: hiring an additional four thousand workers, including customer service workers,

517
00:23:10,880 --> 00:23:13,800
Speaker 1: and again no college degree is necessary for for a

518
00:23:13,800 --> 00:23:15,560
Speaker 1: lot of those jobs. So I think it's just important

519
00:23:15,560 --> 00:23:17,800
Speaker 1: for for us to highlight that while there are a

520
00:23:17,800 --> 00:23:20,160
Speaker 1: lot of sectors that are going through a really tough time,

521
00:23:20,359 --> 00:23:22,120
Speaker 1: there are other great places to be looking. If you're

522
00:23:22,240 --> 00:23:25,399
Speaker 1: unemployed or underemployed right now. Cloud computing, that's another sector

523
00:23:25,480 --> 00:23:28,520
Speaker 1: with lots of jobs available, and service jobs are starting

524
00:23:28,520 --> 00:23:31,560
Speaker 1: to see more demand combined with higher pay as well.

525
00:23:31,680 --> 00:23:33,600
Speaker 1: You'll you'll, of course need a way that the potential

526
00:23:33,640 --> 00:23:36,800
Speaker 1: safety concerns of that job before you apply, but you

527
00:23:36,840 --> 00:23:39,880
Speaker 1: know there are new incentives as well. One service industry

528
00:23:40,000 --> 00:23:43,600
Speaker 1: recruiter in Illinois said that to try to entice people back,

529
00:23:43,720 --> 00:23:47,600
Speaker 1: companies are offering better compensation, flexible hours, in signing bonuses

530
00:23:47,640 --> 00:23:50,720
Speaker 1: as well. Six months ago, the average local pay rate

531
00:23:50,760 --> 00:23:53,480
Speaker 1: for these types of roles UH was ten dollars in

532
00:23:54,200 --> 00:23:57,600
Speaker 1: an hour. Now it's fourteen dollars and eighty cents. Employers

533
00:23:57,800 --> 00:24:00,200
Speaker 1: they're seeing the need to raise that bar too, crease

534
00:24:00,240 --> 00:24:03,000
Speaker 1: the incentives, UH, and we're seeing that reflected and pay

535
00:24:03,119 --> 00:24:05,800
Speaker 1: as well. Yeah, for sure, Matt. On the flip side

536
00:24:05,880 --> 00:24:09,520
Speaker 1: of the job spectrum, some older workers they're starting to

537
00:24:09,680 --> 00:24:13,240
Speaker 1: get offered early retirement packages, essentially cash to walk away

538
00:24:13,240 --> 00:24:16,119
Speaker 1: from their jobs. And for some older workers who have

539
00:24:16,200 --> 00:24:19,320
Speaker 1: contemplated retirement and that they're in a great financial situation,

540
00:24:19,600 --> 00:24:21,840
Speaker 1: this can be pretty awesome, right, extra money to leave

541
00:24:21,880 --> 00:24:24,240
Speaker 1: early when that's where you're headed anyway, It feels like

542
00:24:24,280 --> 00:24:26,919
Speaker 1: a win win, but for lots of other people, it

543
00:24:26,960 --> 00:24:29,960
Speaker 1: can be a really really hard decision. If you decline,

544
00:24:30,040 --> 00:24:32,560
Speaker 1: will your job even be there? Months down the road

545
00:24:32,840 --> 00:24:35,000
Speaker 1: you might find that a future send off won't have

546
00:24:35,080 --> 00:24:38,000
Speaker 1: the same buyout amount right at a later date. So

547
00:24:38,080 --> 00:24:40,880
Speaker 1: there are all sorts of things to consider when you're

548
00:24:40,920 --> 00:24:42,879
Speaker 1: presented with some sort of a severance package or a

549
00:24:42,880 --> 00:24:45,640
Speaker 1: buyout package, whether you're closer retirement or not. And it's

550
00:24:45,680 --> 00:24:48,639
Speaker 1: just something that more and more employees are are having

551
00:24:48,760 --> 00:24:52,240
Speaker 1: to think through in today's economic climate. Yeah, and to

552
00:24:52,240 --> 00:24:54,840
Speaker 1: to compound the difficulty, you don't typically have much time

553
00:24:54,880 --> 00:24:57,520
Speaker 1: to to make a decision right it's it's typically around

554
00:24:57,520 --> 00:25:01,080
Speaker 1: forty five days. Some seven stoft can pay you for

555
00:25:01,119 --> 00:25:03,520
Speaker 1: a full year or even more to leave your job early,

556
00:25:03,720 --> 00:25:06,479
Speaker 1: but most offers aren't quite that generous, and so it's

557
00:25:06,520 --> 00:25:09,080
Speaker 1: important to know that you can negotiate a severance or

558
00:25:09,200 --> 00:25:12,440
Speaker 1: a buyout package. You won't always be successful, but you

559
00:25:12,520 --> 00:25:14,679
Speaker 1: know it's important to ask four things that can make

560
00:25:14,680 --> 00:25:18,440
Speaker 1: a difference for your personal situation. Maybe an extra month

561
00:25:18,520 --> 00:25:21,520
Speaker 1: or two on the job before you officially leave could

562
00:25:21,600 --> 00:25:23,919
Speaker 1: be what sweetens the deal for you, or maybe your

563
00:25:23,920 --> 00:25:27,800
Speaker 1: employers subsidizing healthcare premiums for maybe for months. Those are

564
00:25:27,840 --> 00:25:30,000
Speaker 1: the kinds of things that can make the difference between

565
00:25:30,040 --> 00:25:34,240
Speaker 1: an average severance package versus just a really, really great offer.

566
00:25:34,480 --> 00:25:35,919
Speaker 1: And those are the kind of questions that you need

567
00:25:35,960 --> 00:25:37,520
Speaker 1: to be asking. Yeah, you need to stand up for

568
00:25:37,560 --> 00:25:39,840
Speaker 1: yourself and you need to make a counter offer, and

569
00:25:39,840 --> 00:25:41,360
Speaker 1: and depending on how long you've been there, that will

570
00:25:41,359 --> 00:25:44,439
Speaker 1: help determine in all likelihood how big the severance offer is.

571
00:25:44,640 --> 00:25:46,240
Speaker 1: But it's just important to note that even in like

572
00:25:46,400 --> 00:25:49,400
Speaker 1: a super emotional time, it's important to make sure you're

573
00:25:49,440 --> 00:25:52,200
Speaker 1: asking for the right things that are gonna help keep

574
00:25:52,240 --> 00:25:54,960
Speaker 1: you afloat until you get the next job or until

575
00:25:55,000 --> 00:25:57,760
Speaker 1: you are actually ready to retire. So pushing back in

576
00:25:57,840 --> 00:26:00,920
Speaker 1: some key ways whenever you get a severance offer in hand,

577
00:26:01,000 --> 00:26:03,360
Speaker 1: it is just a really important thing to do, all right, Matt,

578
00:26:03,400 --> 00:26:05,480
Speaker 1: I had one more thing I wanted to talk about

579
00:26:05,520 --> 00:26:08,000
Speaker 1: today on the show. Yesterday in the Facebook group listener,

580
00:26:08,000 --> 00:26:10,800
Speaker 1: Amanda posed this question to everybody. She said, you know

581
00:26:10,840 --> 00:26:14,120
Speaker 1: you're a personal finance nerd when and then she said,

582
00:26:14,119 --> 00:26:16,280
Speaker 1: phil in the blank? So I want to know how

583
00:26:16,320 --> 00:26:18,200
Speaker 1: you finish that sentence. Do you do you feel like

584
00:26:18,240 --> 00:26:20,600
Speaker 1: you have a good answer to this, Well, I replied,

585
00:26:20,640 --> 00:26:23,080
Speaker 1: I said, when you love talking about money so much

586
00:26:23,080 --> 00:26:25,480
Speaker 1: that you start a podcast, I was gonna say, like,

587
00:26:25,520 --> 00:26:27,439
Speaker 1: if you are podcasting about it, I feel like that

588
00:26:27,600 --> 00:26:31,080
Speaker 1: definitely qualifies you as a personal finance nerd. I instinctually,

589
00:26:31,119 --> 00:26:33,359
Speaker 1: I guess look back to my history and and you

590
00:26:33,400 --> 00:26:35,320
Speaker 1: know when it was that I got more into my

591
00:26:35,359 --> 00:26:37,840
Speaker 1: personal finances, and as I did, that's when I started

592
00:26:38,080 --> 00:26:42,359
Speaker 1: tracking every expense that I made, like literally, uh, tracking

593
00:26:42,359 --> 00:26:45,120
Speaker 1: my expenses every single month to the sense. And I've

594
00:26:45,119 --> 00:26:46,959
Speaker 1: done that ever since then. So I feel like if

595
00:26:46,960 --> 00:26:48,960
Speaker 1: you're listening and that's something that you do, there's a

596
00:26:49,000 --> 00:26:50,760
Speaker 1: good chance to your personal finance nerd. You know, when

597
00:26:50,760 --> 00:26:53,600
Speaker 1: you're so preoccupied with the numbers and when wanting to

598
00:26:53,600 --> 00:26:56,680
Speaker 1: make sure that every number has its place, I feel

599
00:26:56,680 --> 00:26:59,439
Speaker 1: like you're you're officially a personal finance nerd. So basically,

600
00:26:59,520 --> 00:27:01,760
Speaker 1: instead of going back to look at your diary from

601
00:27:01,760 --> 00:27:03,040
Speaker 1: two thousands six, you go back to look at your

602
00:27:03,040 --> 00:27:05,439
Speaker 1: budget from two thousands. Well, that's when your personal finance.

603
00:27:05,520 --> 00:27:07,600
Speaker 1: What's amazing is that I really can't go back and

604
00:27:07,640 --> 00:27:09,360
Speaker 1: you can see what you're spending your money on. I'll

605
00:27:09,359 --> 00:27:11,000
Speaker 1: look at those expenses and that tells it really does

606
00:27:11,040 --> 00:27:13,160
Speaker 1: tell me so much about my life back then. Uh.

607
00:27:13,200 --> 00:27:16,000
Speaker 1: And so to answer your question to a certain extent, yes,

608
00:27:16,160 --> 00:27:18,360
Speaker 1: you know, like you really can tell what was going

609
00:27:18,359 --> 00:27:20,840
Speaker 1: on in your life, what you prioritize, what you were

610
00:27:20,880 --> 00:27:23,200
Speaker 1: and weren't doing. Yeah. I think that's totally a sign

611
00:27:23,240 --> 00:27:26,160
Speaker 1: of being a personal finance nerd when you when you yeah,

612
00:27:26,160 --> 00:27:28,680
Speaker 1: when you're focused on the numbers like that. All right. Yeah,

613
00:27:28,680 --> 00:27:30,520
Speaker 1: I thought that was a fun question. A lot of

614
00:27:30,680 --> 00:27:33,719
Speaker 1: interesting comments in there, and and so yeah, for anybody

615
00:27:33,720 --> 00:27:35,920
Speaker 1: who is not a member of that how to Money

616
00:27:35,920 --> 00:27:37,760
Speaker 1: Facebook group, go check it out. A lot of cool

617
00:27:37,760 --> 00:27:39,920
Speaker 1: people in there, a lot of great discussions, people helping

618
00:27:40,000 --> 00:27:42,440
Speaker 1: each other, answering each other's questions, and just providing a

619
00:27:42,440 --> 00:27:44,880
Speaker 1: lot of thoughtful insight when it comes to personal finances.

620
00:27:45,240 --> 00:27:47,240
Speaker 1: All right, Matt, that's gonna do it for this episode.

621
00:27:47,440 --> 00:27:49,480
Speaker 1: For listeners who want the show notes for this episode,

622
00:27:49,480 --> 00:27:51,159
Speaker 1: but you can go to our website at how to

623
00:27:51,280 --> 00:27:54,160
Speaker 1: money dot com and if you enjoy our podcast, would

624
00:27:54,200 --> 00:27:56,199
Speaker 1: be incredibly thankful if you were to head over to

625
00:27:56,200 --> 00:27:59,240
Speaker 1: Apple Podcasts and leave us oh solid review over there.

626
00:27:59,240 --> 00:28:01,399
Speaker 1: And if you've done that, let a friend or family

627
00:28:01,400 --> 00:28:04,000
Speaker 1: member know about the show. Without all of you wonderful

628
00:28:04,040 --> 00:28:06,359
Speaker 1: listeners out there, we wouldn't even have a show, Joel,

629
00:28:07,119 --> 00:28:09,080
Speaker 1: so thanks in advance for that. We'd just be talking

630
00:28:09,080 --> 00:28:11,200
Speaker 1: to each other, which we would do that as well,

631
00:28:11,720 --> 00:28:13,919
Speaker 1: so we can basically would I don't know, alright man. Well,

632
00:28:13,920 --> 00:28:15,880
Speaker 1: that's gonna be it for this episode until next time.

633
00:28:16,080 --> 00:28:17,720
Speaker 1: Best Friends Out, Best Friends Out,