1 00:00:00,200 --> 00:00:04,320 Speaker 1: Brought to you by the all New Toyota Corolla. Welcome 2 00:00:04,320 --> 00:00:07,280 Speaker 1: to you Stuff you Should Know Front House Stuff Works 3 00:00:07,320 --> 00:00:15,880 Speaker 1: dot Com. Hey, and welcome to the podcast. I'm Jock 4 00:00:16,000 --> 00:00:18,279 Speaker 1: Clark and Charles W. Chuck Bryan is with me, and 5 00:00:18,400 --> 00:00:21,280 Speaker 1: Jerry's over there. So this is Stuff you Should Know, 6 00:00:21,760 --> 00:00:27,480 Speaker 1: the legendary podcast live version. Well, it's recorded recorded live 7 00:00:27,560 --> 00:00:31,800 Speaker 1: to tape tape. We've done live persons. Yeah, like in 8 00:00:31,880 --> 00:00:33,600 Speaker 1: a with an audience. Yeah, I don't know if you 9 00:00:33,640 --> 00:00:37,640 Speaker 1: remember that. Sure, we've done it. Yeah. Should we set 10 00:00:37,720 --> 00:00:39,839 Speaker 1: up this a little bit? I'd like to oh, yes, 11 00:00:39,920 --> 00:00:42,320 Speaker 1: go ahead. Well, people, when you listen to Stuff you 12 00:00:42,360 --> 00:00:45,479 Speaker 1: Should Know, a lot of times you're regaled with stories 13 00:00:45,479 --> 00:00:50,680 Speaker 1: of history, or stories of science, or cool animals or 14 00:00:51,040 --> 00:00:52,680 Speaker 1: you know, you name it. We like to cover lots 15 00:00:52,680 --> 00:00:57,320 Speaker 1: of stuff, but occasionally we like to do a little advice. Yes, 16 00:00:57,880 --> 00:01:00,960 Speaker 1: but the fact that we're doing out advice does not 17 00:01:01,080 --> 00:01:04,399 Speaker 1: mean that we are professional advisers. No, no, no. But 18 00:01:04,440 --> 00:01:07,080 Speaker 1: occasionally we like to talk about things like green living, 19 00:01:07,240 --> 00:01:11,080 Speaker 1: or health and fitness, or in this case, finance, just 20 00:01:11,120 --> 00:01:13,600 Speaker 1: because you know, we know the millennials out there think 21 00:01:14,040 --> 00:01:17,280 Speaker 1: they're never gonna have to worry about anything but eventually 22 00:01:17,280 --> 00:01:19,000 Speaker 1: you're going to be off the teeth of your parents 23 00:01:19,880 --> 00:01:21,600 Speaker 1: and you might have to think about this stuff. Either 24 00:01:21,680 --> 00:01:25,039 Speaker 1: that or the millennials are already more worried than anybody 25 00:01:25,080 --> 00:01:28,400 Speaker 1: else right now. Uh, and not just millennials. I think 26 00:01:28,480 --> 00:01:31,080 Speaker 1: anybody could use this advice and put it to pretty 27 00:01:31,080 --> 00:01:33,720 Speaker 1: good use. Well. Yeah, one thing I've realized is that 28 00:01:33,800 --> 00:01:36,560 Speaker 1: you're never too young or you're never too old to 29 00:01:36,640 --> 00:01:40,320 Speaker 1: start being smart and thinking about like, you know, money, 30 00:01:40,319 --> 00:01:42,520 Speaker 1: inter future and stuff like that. I don't know, I mean, 31 00:01:42,600 --> 00:01:45,119 Speaker 1: like if you're in the last weeks of your life, 32 00:01:45,160 --> 00:01:49,000 Speaker 1: like it's too late that maybe, so never say never. 33 00:01:49,840 --> 00:01:52,639 Speaker 1: But yes, the younger you are, the better off you are. 34 00:01:53,120 --> 00:01:56,560 Speaker 1: The later you start, you know, the further you have 35 00:01:56,680 --> 00:01:59,520 Speaker 1: to catch up. But the point is there's no reason 36 00:01:59,560 --> 00:02:03,120 Speaker 1: to not try. And what we're talking about is is 37 00:02:03,160 --> 00:02:05,840 Speaker 1: saving money. But it's not just saving money, it's part 38 00:02:05,840 --> 00:02:10,280 Speaker 1: of like a saving money is the basis of basically 39 00:02:10,440 --> 00:02:16,320 Speaker 1: a conscientious lifestyle. Yeah. Um, you don't have to be rich, 40 00:02:17,120 --> 00:02:19,960 Speaker 1: and you don't have to even want to be rich. Basically, 41 00:02:20,000 --> 00:02:23,720 Speaker 1: all you have to have is the desire to be 42 00:02:23,919 --> 00:02:28,519 Speaker 1: financially independent or close to financially independent and financially free, 43 00:02:29,160 --> 00:02:31,200 Speaker 1: and that doesn't mean you have to have gobs of 44 00:02:31,200 --> 00:02:33,520 Speaker 1: money or endless amount of cash. Actually, it's pretty easy 45 00:02:33,560 --> 00:02:36,720 Speaker 1: to sit there and figure out how much money you 46 00:02:36,800 --> 00:02:40,000 Speaker 1: need and set that as your goal and get to it. 47 00:02:40,240 --> 00:02:44,080 Speaker 1: And the cool thing is if you if you do 48 00:02:44,200 --> 00:02:47,400 Speaker 1: kind of take this advice, you do kind of start 49 00:02:47,480 --> 00:02:51,600 Speaker 1: following this path. I guess you could say, um, it's 50 00:02:51,760 --> 00:02:55,520 Speaker 1: it's It becomes a bit addictive and you realize that 51 00:02:55,560 --> 00:02:58,600 Speaker 1: you've just altered your mindset and you're living basically the 52 00:02:58,639 --> 00:03:04,600 Speaker 1: antithesis of a wasteful consumer culture life and sticking it 53 00:03:04,639 --> 00:03:07,280 Speaker 1: to the man. That's right, and you don't have to 54 00:03:07,280 --> 00:03:09,480 Speaker 1: be a freaking to do it. You know, there's a 55 00:03:09,480 --> 00:03:12,960 Speaker 1: middle ground that's just being smart and uh frugal where 56 00:03:13,000 --> 00:03:17,160 Speaker 1: you need to be. And it's like, I get into it. 57 00:03:17,160 --> 00:03:19,440 Speaker 1: It's not like I'm loaded or anything, but I don't 58 00:03:19,480 --> 00:03:21,200 Speaker 1: think about the money so much as I think about 59 00:03:21,240 --> 00:03:26,120 Speaker 1: efficiency and like waste that really occupies a lot of 60 00:03:26,160 --> 00:03:30,960 Speaker 1: my mind. Once you start thinking about everything in those terms, 61 00:03:31,680 --> 00:03:34,960 Speaker 1: all of a sudden it becomes very clear and every 62 00:03:34,960 --> 00:03:39,840 Speaker 1: little bit it counts because you're you're you know, take energy, 63 00:03:39,880 --> 00:03:43,280 Speaker 1: which we'll get into if you unplug your toaster every 64 00:03:43,360 --> 00:03:46,120 Speaker 1: day after you use it. I mean, what's that going 65 00:03:46,200 --> 00:03:49,280 Speaker 1: to add up to? Like virtually nothing? Actually have a 66 00:03:49,280 --> 00:03:51,440 Speaker 1: bit on vampire power. We'll talk about good. I'm glad 67 00:03:51,440 --> 00:03:54,560 Speaker 1: you do. And it's not much though, right, well, we'll 68 00:03:54,560 --> 00:03:56,000 Speaker 1: talk about it all right. But let's say a toaster 69 00:03:56,120 --> 00:03:58,640 Speaker 1: is not much, just a single toaster, it's not much, 70 00:03:58,800 --> 00:04:01,560 Speaker 1: thank you bye. If you take that toaster and pile 71 00:04:01,640 --> 00:04:04,680 Speaker 1: it in with um, you know, savings on not buying 72 00:04:04,680 --> 00:04:07,440 Speaker 1: coffee every day while you're out and um, you know, 73 00:04:07,640 --> 00:04:10,000 Speaker 1: thinking about your auto insurance and just all the stuff 74 00:04:10,040 --> 00:04:12,600 Speaker 1: that we're going to talk about and think of all 75 00:04:12,640 --> 00:04:15,680 Speaker 1: of it is what you're throwing into a pot, your savings. 76 00:04:16,000 --> 00:04:20,200 Speaker 1: Then it does count. It does matter. Yeah, um, so good, 77 00:04:20,680 --> 00:04:25,400 Speaker 1: thanks man. So the recommended amount that I've seen, I 78 00:04:25,440 --> 00:04:29,920 Speaker 1: don't remember what investment advisor wrote the article or whatever, 79 00:04:29,960 --> 00:04:32,960 Speaker 1: but I've seen before that you want to save what 80 00:04:33,040 --> 00:04:37,559 Speaker 1: amounts to about eight times your ending salary, no matter 81 00:04:37,640 --> 00:04:40,320 Speaker 1: what you're ending salary, that's the salary you're gonna have 82 00:04:40,360 --> 00:04:44,800 Speaker 1: when you retire. Is that is a mind bogglingly daunting 83 00:04:45,320 --> 00:04:47,880 Speaker 1: number if you think about it, to say to have 84 00:04:47,960 --> 00:04:49,760 Speaker 1: that much in the bank by the time you retire. Yeah, 85 00:04:49,839 --> 00:04:53,280 Speaker 1: eight times. Yeah, I better get busy. Supposedly you're supposed 86 00:04:53,279 --> 00:04:56,320 Speaker 1: to have like one time what you you estimate your 87 00:04:56,400 --> 00:04:59,800 Speaker 1: ending salary would be by the time you're thirty, three 88 00:05:00,000 --> 00:05:02,839 Speaker 1: times by the time you're forty, and then so on 89 00:05:03,040 --> 00:05:05,160 Speaker 1: until by about the time you're sixty five. Shoot at 90 00:05:05,200 --> 00:05:07,359 Speaker 1: eight times, you're any Sorry, that's a lot of money, 91 00:05:07,720 --> 00:05:11,080 Speaker 1: That's a lot of savings. Okay, I think pretty much 92 00:05:11,120 --> 00:05:14,400 Speaker 1: everybody is a bit behind. I think that's a that's 93 00:05:14,400 --> 00:05:19,040 Speaker 1: a very important point. I don't feel like anybody, especially 94 00:05:19,040 --> 00:05:21,960 Speaker 1: somebody who feels daunted by that number, should feel like 95 00:05:22,000 --> 00:05:25,320 Speaker 1: that they're on the outs and that everybody else is 96 00:05:25,360 --> 00:05:28,760 Speaker 1: doing well. But at the same time, that doesn't mean 97 00:05:29,160 --> 00:05:31,200 Speaker 1: that just because everybody else is a saving that you 98 00:05:31,200 --> 00:05:33,800 Speaker 1: shouldn't start. Don't compare yourself to others. Just take care 99 00:05:33,800 --> 00:05:36,760 Speaker 1: of your business, and that's what this whole thing is about. 100 00:05:36,760 --> 00:05:39,719 Speaker 1: Don't worry about the joneses so um. One of the 101 00:05:39,760 --> 00:05:42,000 Speaker 1: first one of the first things you want to do 102 00:05:42,080 --> 00:05:45,600 Speaker 1: is figure out what the eight time amount is and 103 00:05:45,720 --> 00:05:48,360 Speaker 1: set that as your goal by the time you're sixty five, 104 00:05:48,800 --> 00:05:51,760 Speaker 1: and then start looking around and figuring out ways to 105 00:05:51,800 --> 00:05:53,680 Speaker 1: get there, and one of the best ways is to 106 00:05:53,839 --> 00:05:58,920 Speaker 1: stop wasting. Yeah, wasting is the opposite of saving, right, 107 00:05:59,040 --> 00:06:02,120 Speaker 1: So if you save, you're not wasting, and if you waste, 108 00:06:02,200 --> 00:06:05,680 Speaker 1: you're doing the wrong thing. Uh So here's some ways 109 00:06:05,720 --> 00:06:07,919 Speaker 1: you can say, Yeah, you don't get into this. Let's 110 00:06:08,520 --> 00:06:10,960 Speaker 1: entertainment is a lot of times one of the first 111 00:06:10,960 --> 00:06:14,000 Speaker 1: things on the list, because a lot of things in 112 00:06:14,000 --> 00:06:19,239 Speaker 1: the entertainment category are luxuries, meaning they make your life better, 113 00:06:19,680 --> 00:06:22,640 Speaker 1: which is super valid. You just can't do it all 114 00:06:22,680 --> 00:06:26,640 Speaker 1: all the time. Unless you're super rich, then go nuts 115 00:06:26,839 --> 00:06:31,599 Speaker 1: for you you're super rich already, then for instance, Um, 116 00:06:31,720 --> 00:06:34,000 Speaker 1: maybe you can get the same content online as you're 117 00:06:34,040 --> 00:06:37,240 Speaker 1: paying for either with a cable bill or like a 118 00:06:37,279 --> 00:06:40,360 Speaker 1: magazine subscription or a newspaper or something. You might be 119 00:06:40,400 --> 00:06:42,320 Speaker 1: able to get all that stuff free online. Save yourself 120 00:06:42,360 --> 00:06:44,520 Speaker 1: some bucks. Sure, that's one way to do it. Um. 121 00:06:45,680 --> 00:06:48,960 Speaker 1: You make a good point that you know, entertainment is 122 00:06:48,960 --> 00:06:51,160 Speaker 1: a luxury, but it's also in a lot of ways 123 00:06:51,160 --> 00:06:54,200 Speaker 1: of necessity to you just have to look around and say, 124 00:06:54,200 --> 00:06:57,080 Speaker 1: where can I trim some fat? Where am I being wasteful? 125 00:06:57,160 --> 00:06:59,320 Speaker 1: Is there anything that I'm just not really using that 126 00:06:59,400 --> 00:07:02,560 Speaker 1: I'm paying or in the entertainment category, and if so, 127 00:07:02,920 --> 00:07:05,720 Speaker 1: then that means I probably don't really need it and 128 00:07:05,760 --> 00:07:08,440 Speaker 1: I should stop just paying for it out of habit. Yeah, well, 129 00:07:08,560 --> 00:07:11,840 Speaker 1: the Netflix is one thing I dropped finally, the DVD 130 00:07:11,880 --> 00:07:16,440 Speaker 1: delivery in favor of just the online streaming. And would 131 00:07:16,440 --> 00:07:17,680 Speaker 1: it say, Man, I think it's like eight bucks a 132 00:07:17,680 --> 00:07:19,440 Speaker 1: month or something that adds up when you throw it 133 00:07:19,480 --> 00:07:21,320 Speaker 1: into a pot, it adds up. It's like over the 134 00:07:21,320 --> 00:07:24,240 Speaker 1: course of the year. That's like, you know, that's a 135 00:07:24,320 --> 00:07:26,200 Speaker 1: nice meal out or money you could ad mess in 136 00:07:26,280 --> 00:07:28,440 Speaker 1: something else, right, Yeah, Um, saying like you said, with 137 00:07:28,480 --> 00:07:31,360 Speaker 1: magazine subscriptions, if you're getting the magazine and it's just 138 00:07:31,400 --> 00:07:34,000 Speaker 1: sitting there and you're not really reading it or getting 139 00:07:34,040 --> 00:07:37,520 Speaker 1: anything from it, cancel your subscription and say, by the way, 140 00:07:37,520 --> 00:07:39,480 Speaker 1: I already paid for this, so send me what you 141 00:07:39,520 --> 00:07:43,440 Speaker 1: owe me. Still. Um, if you love your magazines, then 142 00:07:43,480 --> 00:07:46,200 Speaker 1: that one wouldn't count. Again. What we're talking about here 143 00:07:46,240 --> 00:07:51,680 Speaker 1: is trimming the fat, not living this horribly. Um, mind's 144 00:07:51,680 --> 00:07:55,280 Speaker 1: really lifestyle. Yeah that that is no fun whatsoever. But 145 00:07:55,880 --> 00:07:58,200 Speaker 1: like we said, once you start getting into this, you're 146 00:07:58,200 --> 00:08:00,720 Speaker 1: probably going to find that it's actually find to look 147 00:08:00,760 --> 00:08:03,200 Speaker 1: for ways to trim the fat. Yeah, and speaking of 148 00:08:03,240 --> 00:08:05,960 Speaker 1: trimming the fat, um, take a look at your gym 149 00:08:05,960 --> 00:08:08,680 Speaker 1: membership people. How often do you go and what do 150 00:08:08,720 --> 00:08:10,400 Speaker 1: you do while you're there. If it's something you get 151 00:08:10,400 --> 00:08:12,280 Speaker 1: a lot of benefit out of, then by all means, 152 00:08:12,360 --> 00:08:15,040 Speaker 1: keep going because at your health. But do you know 153 00:08:15,080 --> 00:08:18,040 Speaker 1: who pays a month to come run on a treadmill? 154 00:08:18,560 --> 00:08:23,360 Speaker 1: Jerry a sucker. Because there's streets, their sidewalks, there's running trails. 155 00:08:23,920 --> 00:08:25,960 Speaker 1: If you're not utilizing most of the stuff at the 156 00:08:26,000 --> 00:08:28,280 Speaker 1: gym or going to classes and things, you might want 157 00:08:28,280 --> 00:08:30,040 Speaker 1: to think about trim and the fat. Or if you 158 00:08:30,120 --> 00:08:33,720 Speaker 1: really need that ritual for that treadmill and you don't 159 00:08:33,720 --> 00:08:36,560 Speaker 1: mind paying that money for the treadmill, that's fine too, 160 00:08:36,600 --> 00:08:39,920 Speaker 1: But just think about it. Yeah, if you if you 161 00:08:40,120 --> 00:08:46,920 Speaker 1: are shameless or you have no self consciousness whatsoever, you 162 00:08:46,960 --> 00:08:50,200 Speaker 1: can go use the exercise equipment at the park. Yeah, 163 00:08:50,200 --> 00:08:52,880 Speaker 1: you know those little uh little things they have going on. Yeah, 164 00:08:53,080 --> 00:08:55,840 Speaker 1: I just couldn't do that. Yeah, Or you work out 165 00:08:55,920 --> 00:08:57,480 Speaker 1: at the park, you know, Or you could buy a 166 00:08:57,520 --> 00:09:00,640 Speaker 1: treadmill and have it tease you and acu and haunt 167 00:09:00,679 --> 00:09:03,640 Speaker 1: you for the rest of your life. In the spare room, 168 00:09:03,679 --> 00:09:06,280 Speaker 1: which is what happens sometimes. I think that's the opposite 169 00:09:06,280 --> 00:09:09,960 Speaker 1: of good advice as far as that's true. Uh, what 170 00:09:10,080 --> 00:09:14,160 Speaker 1: about automotive costs. That's a really satisfying way to save money, 171 00:09:14,240 --> 00:09:18,760 Speaker 1: because nobody likes paying for car up maintenance and gas, 172 00:09:19,679 --> 00:09:21,599 Speaker 1: two things people hate spending money on. I got some 173 00:09:21,679 --> 00:09:24,240 Speaker 1: numbers for you. Let's say let's say you drive eighty 174 00:09:24,240 --> 00:09:28,400 Speaker 1: thousand miles over five years. Uh, if you bought a 175 00:09:28,440 --> 00:09:31,240 Speaker 1: car that gets twenty five miles to the gallon compared 176 00:09:31,280 --> 00:09:34,200 Speaker 1: to one that gets fifteen miles to the gallon, you're 177 00:09:34,240 --> 00:09:37,360 Speaker 1: gonna be buying two thousand fewer gallons of gas over 178 00:09:37,400 --> 00:09:42,240 Speaker 1: that time average of three fifty gallon over five years, 179 00:09:42,400 --> 00:09:47,559 Speaker 1: You've saved seven thousand dollars in gasoline costs, which is like, 180 00:09:47,760 --> 00:09:50,040 Speaker 1: I mean, that's super substantial. Man. You could put that 181 00:09:50,080 --> 00:09:53,000 Speaker 1: into your four own care or whatever and make that 182 00:09:53,040 --> 00:09:54,800 Speaker 1: into a lot more money by the time you retire, 183 00:09:55,280 --> 00:09:58,240 Speaker 1: just by ten miles a gallon difference by not getting 184 00:09:58,280 --> 00:10:02,480 Speaker 1: that ginormous UV you can't even park, Maybe get something 185 00:10:02,520 --> 00:10:06,040 Speaker 1: more fuel efficient instead. You know, well, yeah, I mean, 186 00:10:06,160 --> 00:10:09,200 Speaker 1: that's a seven grand in your pocket that you just 187 00:10:09,600 --> 00:10:14,840 Speaker 1: wouldn't have had before. Um, what else? Your car insurance 188 00:10:14,880 --> 00:10:17,360 Speaker 1: is another good place to go, Like anything you're currently 189 00:10:17,400 --> 00:10:22,240 Speaker 1: paying for, um, that's a good place to to start 190 00:10:22,320 --> 00:10:26,880 Speaker 1: and say, how can I pay less for the same 191 00:10:26,920 --> 00:10:29,760 Speaker 1: amount or do I need the same amount that I 192 00:10:29,800 --> 00:10:33,000 Speaker 1: have right now? So usually if you have a decent 193 00:10:33,280 --> 00:10:36,600 Speaker 1: insurance person, you will find that they will be happy 194 00:10:36,640 --> 00:10:39,280 Speaker 1: to talk to you and say you don't really need this, 195 00:10:39,440 --> 00:10:42,080 Speaker 1: or if you raise your deductible a little bit, you'll 196 00:10:42,080 --> 00:10:45,480 Speaker 1: probably be okay, um, and you'll be paying less per 197 00:10:45,559 --> 00:10:50,040 Speaker 1: month without losing out on anything. Really, another place you 198 00:10:50,040 --> 00:10:52,160 Speaker 1: can say gas is and a lot of people don't 199 00:10:52,160 --> 00:10:54,520 Speaker 1: realize this, but your tires in your car are supposed 200 00:10:54,559 --> 00:10:57,280 Speaker 1: to be inflated to a certain amount, and if they're 201 00:10:57,320 --> 00:11:00,920 Speaker 1: lower than that, you're gonna be wasting gas. Yeah. Uh. 202 00:11:00,960 --> 00:11:03,280 Speaker 1: In fact, for every two pounds per square inch that 203 00:11:03,320 --> 00:11:05,959 Speaker 1: you're off that they're low, your maledge goes down by 204 00:11:05,960 --> 00:11:09,200 Speaker 1: one percent. And in this article they judge most cards 205 00:11:09,240 --> 00:11:11,880 Speaker 1: are about five to ten pounds per square inch low, 206 00:11:12,240 --> 00:11:15,120 Speaker 1: and that's about five percent less fuel efficient just by 207 00:11:15,160 --> 00:11:18,200 Speaker 1: putting air in your tires. Yeah, that's crazy. Plus even more, 208 00:11:19,520 --> 00:11:22,679 Speaker 1: there's a lot of gas stations that have free air. Yeah, 209 00:11:22,840 --> 00:11:26,680 Speaker 1: not as much anymore, but your trip does they Yeah, alright, 210 00:11:26,880 --> 00:11:30,400 Speaker 1: go to kut um. Let's see what else, chuck. All right, 211 00:11:30,440 --> 00:11:33,920 Speaker 1: you want to talk grocery stores always? All right? Uh, 212 00:11:34,120 --> 00:11:36,520 Speaker 1: first of all, right, now would be a terrible time 213 00:11:36,559 --> 00:11:39,439 Speaker 1: for me to go grocery shopping because I'm very hungry. Yeah, 214 00:11:39,520 --> 00:11:41,840 Speaker 1: they say to eat first time. Yeah, I mean, it 215 00:11:41,920 --> 00:11:44,880 Speaker 1: really does work because it makes an enormous difference on 216 00:11:45,240 --> 00:11:49,240 Speaker 1: like buying stuff that you normally wouldn't buy. If you 217 00:11:49,320 --> 00:11:51,559 Speaker 1: are hungry at the grocery store, like, you're just gonna 218 00:11:51,600 --> 00:11:54,200 Speaker 1: buy more. It's a proven fact, that's right, Josh. And 219 00:11:54,240 --> 00:11:57,120 Speaker 1: then going out to lunch at work is a big, 220 00:11:57,160 --> 00:12:01,080 Speaker 1: big deal, a big expense potentially, they say in here 221 00:12:01,080 --> 00:12:03,000 Speaker 1: six dollars a day is eight hundred a year, but 222 00:12:03,520 --> 00:12:06,120 Speaker 1: six dollars a day that's super cheap. It is you know, 223 00:12:06,160 --> 00:12:08,160 Speaker 1: it probably won't live a year if you're eating six 224 00:12:08,160 --> 00:12:11,280 Speaker 1: dollar lunches every day. Yeah, I mean, let's say that's 225 00:12:11,280 --> 00:12:14,040 Speaker 1: twelve bucks. Or if you go out for business lunches, 226 00:12:14,480 --> 00:12:16,920 Speaker 1: like you're really racking up money. Right, And if it's 227 00:12:16,960 --> 00:12:20,880 Speaker 1: not just few, but also your spouse or significantity, life 228 00:12:20,880 --> 00:12:23,720 Speaker 1: partner whatever also doing the same thing. You can double 229 00:12:23,760 --> 00:12:27,360 Speaker 1: that amount right there. So I just get around the 230 00:12:27,400 --> 00:12:30,199 Speaker 1: whole thing by not eating lunch. But you could also 231 00:12:30,760 --> 00:12:34,840 Speaker 1: pack your own lunch save a substantial amount. Plus you know, 232 00:12:35,280 --> 00:12:38,000 Speaker 1: it's like you're being your own mom packing your lunch 233 00:12:38,040 --> 00:12:41,240 Speaker 1: in the morning. You write yourself a note even right, um, 234 00:12:41,320 --> 00:12:45,160 Speaker 1: and then chuck at the grocery store to um. If 235 00:12:45,240 --> 00:12:48,320 Speaker 1: you take a little time and go online or get 236 00:12:48,320 --> 00:12:51,960 Speaker 1: your favorite grocery stores app they have those these days. Um, 237 00:12:52,040 --> 00:12:54,839 Speaker 1: you can find all sorts of specials coupons, that kind 238 00:12:54,880 --> 00:12:58,040 Speaker 1: of thing, and say what can I do with salery 239 00:12:58,040 --> 00:13:01,560 Speaker 1: and chickpeas? Right, And then you put them together and 240 00:13:01,760 --> 00:13:04,760 Speaker 1: base your weekly plan on that you could make hummas 241 00:13:04,760 --> 00:13:07,439 Speaker 1: and dip the celery in it exactly. And you take 242 00:13:07,520 --> 00:13:11,240 Speaker 1: that list that features chickpea and salaries and whatever else 243 00:13:11,240 --> 00:13:14,960 Speaker 1: it takes to make hummus um and take it to 244 00:13:15,000 --> 00:13:18,679 Speaker 1: the store and you stick to that list some garlic exactly. 245 00:13:19,520 --> 00:13:21,960 Speaker 1: But the point is you've thought about all this before 246 00:13:22,000 --> 00:13:24,040 Speaker 1: you went to the store, wrote it down on the list, 247 00:13:24,200 --> 00:13:26,400 Speaker 1: and then stuck to the list, and then use the 248 00:13:26,440 --> 00:13:29,360 Speaker 1: coupons that originally got you to think of hummus in 249 00:13:29,360 --> 00:13:32,880 Speaker 1: the first place. You just saved yourself some money an 250 00:13:32,880 --> 00:13:36,240 Speaker 1: incalculable amount, mainly because I don't want to calculate it 251 00:13:36,320 --> 00:13:38,640 Speaker 1: right now, that's right. Yeah, keep your eyes peeled at 252 00:13:38,679 --> 00:13:41,320 Speaker 1: the store for specials. Um. I know you don't want 253 00:13:41,320 --> 00:13:43,400 Speaker 1: to grab the little fire when you walk in because 254 00:13:43,440 --> 00:13:45,360 Speaker 1: it makes you look like you're, you know, eighty years old. 255 00:13:45,840 --> 00:13:47,640 Speaker 1: But that's where you find out the deals. You know, 256 00:13:47,679 --> 00:13:50,120 Speaker 1: they're buy one, get one free on a tub of butter. 257 00:13:50,640 --> 00:13:53,280 Speaker 1: Go get the tub of butter and get your second 258 00:13:53,280 --> 00:13:58,119 Speaker 1: one for free. That's right. As I want to apologize 259 00:13:58,120 --> 00:14:01,720 Speaker 1: to our eighty year old listeners who like circulars at 260 00:14:01,720 --> 00:14:04,360 Speaker 1: the grocery store. Yeah, my man, my mom was way 261 00:14:04,440 --> 00:14:07,400 Speaker 1: into coupons. Yeah, well a lot of people are. Yeah, 262 00:14:07,600 --> 00:14:11,360 Speaker 1: I've read that apparently coupons have gone down in quality 263 00:14:12,040 --> 00:14:14,320 Speaker 1: because of this coupon craze that's going on right now. 264 00:14:14,320 --> 00:14:16,320 Speaker 1: So many people are using it that companies are like, 265 00:14:16,559 --> 00:14:18,680 Speaker 1: we can't afford to put out decent coupons. Did you 266 00:14:18,760 --> 00:14:21,360 Speaker 1: say there's a coupon craze going on? Really? Did you 267 00:14:21,400 --> 00:14:25,520 Speaker 1: not know? Not? Oh man, there's whole TV shows dedicated 268 00:14:25,560 --> 00:14:28,560 Speaker 1: to it. Coupon craze. Yes, really, it's the name of 269 00:14:28,600 --> 00:14:31,680 Speaker 1: the Joe coupon Grace. No, there's like extreme coupon NG Really, 270 00:14:31,680 --> 00:14:34,960 Speaker 1: I think on TLC you've never heard of that. What now? 271 00:14:35,120 --> 00:14:38,600 Speaker 1: Is it just people like it's people who are so 272 00:14:38,640 --> 00:14:41,240 Speaker 1: good at couponing. I saw a man on a TV show. 273 00:14:42,240 --> 00:14:45,520 Speaker 1: He had like a four hundred dollar grocery bill, and 274 00:14:45,560 --> 00:14:47,640 Speaker 1: from his coupons, he brought it down to like the 275 00:14:47,680 --> 00:14:50,080 Speaker 1: fourteen dollars. I thought, you're gonna say they paid him 276 00:14:50,080 --> 00:14:52,280 Speaker 1: a hundred dollars. It was close to it. It was 277 00:14:52,440 --> 00:14:54,480 Speaker 1: very close to it. Yeah, use your you know, most 278 00:14:54,480 --> 00:14:56,840 Speaker 1: grocery stores have a little club card used those that's 279 00:14:56,840 --> 00:14:59,040 Speaker 1: really satisfying to see all that money go away at 280 00:14:59,080 --> 00:15:01,960 Speaker 1: the end. Not only that, some of those cards will 281 00:15:02,040 --> 00:15:05,080 Speaker 1: get you like extra bucks or points or whatever that 282 00:15:05,320 --> 00:15:09,480 Speaker 1: will actually deduct money from your additional money on top 283 00:15:09,520 --> 00:15:12,560 Speaker 1: of coupons from your bill after a while. Like it's 284 00:15:12,600 --> 00:15:17,000 Speaker 1: it's not a bad idea, um to take advantage of 285 00:15:17,080 --> 00:15:21,720 Speaker 1: loyalty programs if it makes sense to you, Like there 286 00:15:21,720 --> 00:15:24,920 Speaker 1: are there are plenty of people out there that own 287 00:15:25,000 --> 00:15:28,720 Speaker 1: companies that have come up with loyalty programs that are 288 00:15:28,760 --> 00:15:32,240 Speaker 1: frankly scams, and you have to be wary of those 289 00:15:32,320 --> 00:15:35,320 Speaker 1: because you don't want to buy stuff you wouldn't normally 290 00:15:35,320 --> 00:15:37,640 Speaker 1: buy just because you're gonna say fifty cents on it 291 00:15:37,920 --> 00:15:40,800 Speaker 1: because it costs you three fifty that you weren't going 292 00:15:40,880 --> 00:15:44,520 Speaker 1: to spend anyway, you know. But if you're going to 293 00:15:44,760 --> 00:15:47,160 Speaker 1: the same store again and again and again, it's just 294 00:15:47,200 --> 00:15:49,280 Speaker 1: down the street, they have pretty good prices. You like 295 00:15:49,320 --> 00:15:52,360 Speaker 1: their coupons, sign up for their loyalty program and it 296 00:15:52,400 --> 00:15:55,920 Speaker 1: will pay off in the end. I'll buzz market here. 297 00:15:55,920 --> 00:15:58,960 Speaker 1: I got to Kroger, Yeah, when I can, and they 298 00:15:59,040 --> 00:16:01,160 Speaker 1: keep track of your thing through your little card. And 299 00:16:01,200 --> 00:16:03,560 Speaker 1: then I get gas or two because a it's cheaper already, 300 00:16:03,600 --> 00:16:06,560 Speaker 1: but every like four or five fill ups, they'll give 301 00:16:06,600 --> 00:16:09,480 Speaker 1: you credit from your grocery buys on your gas. Right, 302 00:16:09,560 --> 00:16:11,560 Speaker 1: I'll say, like, would you like to say tinsensic allen 303 00:16:11,600 --> 00:16:15,000 Speaker 1: because you bought groceries? Is there like an actual no button? 304 00:16:15,400 --> 00:16:17,640 Speaker 1: There's a no no because you can say that like 305 00:16:17,760 --> 00:16:20,240 Speaker 1: give your life or whatever, or I'm flushed this week 306 00:16:20,280 --> 00:16:24,080 Speaker 1: if that's how you live. But um, I always say, heck, yeah, yeah, 307 00:16:24,120 --> 00:16:26,480 Speaker 1: give me the tencent. I remember hearing a long time 308 00:16:26,520 --> 00:16:30,040 Speaker 1: ago that like, um, that they were trying to outlaw 309 00:16:30,960 --> 00:16:35,280 Speaker 1: gas discounts, Like some of those places sell gas at 310 00:16:35,880 --> 00:16:39,320 Speaker 1: below what they pay for. It attract people into their stores, 311 00:16:39,680 --> 00:16:42,280 Speaker 1: and it was like driving other gas stations out of business. 312 00:16:43,040 --> 00:16:47,640 Speaker 1: T Yeah, when it comes to saving baby, it's survival 313 00:16:47,640 --> 00:16:50,560 Speaker 1: of the fittest. All right. Let's talk about family expenses, 314 00:16:51,160 --> 00:16:54,720 Speaker 1: things like your prescription drugs or maybe your baby formula. 315 00:16:55,360 --> 00:16:58,080 Speaker 1: All these things you can get generic versions of that 316 00:16:58,080 --> 00:17:01,520 Speaker 1: are FDA proved to be just as good as your 317 00:17:01,760 --> 00:17:04,800 Speaker 1: brand name version. You know who buys brand name stuff, 318 00:17:05,440 --> 00:17:09,320 Speaker 1: suckers brand named drugs. Yeah. Well, it says here in 319 00:17:09,359 --> 00:17:13,240 Speaker 1: this article that drug companies spend all their money on 320 00:17:13,320 --> 00:17:16,200 Speaker 1: like research and development and stuff like that. That's not true. 321 00:17:16,440 --> 00:17:19,080 Speaker 1: Most drug companies get universities to do their r and 322 00:17:19,160 --> 00:17:21,960 Speaker 1: D for free, but they just have the patent on 323 00:17:22,000 --> 00:17:23,680 Speaker 1: it for the first few years and can charge whatever 324 00:17:23,720 --> 00:17:26,359 Speaker 1: they want depending on the country. There. The point is, 325 00:17:26,800 --> 00:17:31,359 Speaker 1: generics have the exact same thing in it by law. Um, 326 00:17:31,520 --> 00:17:34,440 Speaker 1: it's just they don't own the patent and the patents expired, 327 00:17:35,320 --> 00:17:38,800 Speaker 1: so now everybody can sell it for cheap. Buddy, I 328 00:17:38,880 --> 00:17:40,240 Speaker 1: know one way you save a lot of money in 329 00:17:40,280 --> 00:17:46,160 Speaker 1: the past few years. Smokies, Yes, not smoking yeah, cigarettes, 330 00:17:46,240 --> 00:17:49,040 Speaker 1: or how much are they know? Last I saw they 331 00:17:49,040 --> 00:17:52,239 Speaker 1: were like five bucks a pack. In Atlanta, they're like 332 00:17:52,320 --> 00:17:55,359 Speaker 1: twelve dollars a pack or so in New York that's 333 00:17:55,600 --> 00:17:59,639 Speaker 1: twelve dollars a pack. And I remember when they started 334 00:17:59,640 --> 00:18:02,200 Speaker 1: to go up because I smoked at a time when 335 00:18:02,200 --> 00:18:04,080 Speaker 1: you can get them for like a dollar fifty a pack, 336 00:18:04,880 --> 00:18:06,239 Speaker 1: and then all of a sudden they were like three 337 00:18:06,280 --> 00:18:09,959 Speaker 1: dollars four or five. And there were articles because you know, 338 00:18:10,080 --> 00:18:12,960 Speaker 1: tobacco is going through the roof, and there are articles 339 00:18:13,000 --> 00:18:16,920 Speaker 1: on what the price point would be where people stop smoking. 340 00:18:17,040 --> 00:18:19,159 Speaker 1: You remember hearing a lot of people say five and 341 00:18:19,200 --> 00:18:22,719 Speaker 1: it's that's just not some people, I'm sure quit because 342 00:18:22,960 --> 00:18:25,600 Speaker 1: they hit five bucks, But no, people will still smoke 343 00:18:25,640 --> 00:18:28,720 Speaker 1: and pay five dollars or twelve dollars a pack every 344 00:18:28,800 --> 00:18:32,120 Speaker 1: day to shorten their life and incur more medical expenses 345 00:18:32,160 --> 00:18:33,800 Speaker 1: later on. Right, And the point is is if you 346 00:18:33,920 --> 00:18:38,479 Speaker 1: quit like that is it's just like having a higher 347 00:18:38,520 --> 00:18:43,399 Speaker 1: fuel fuel efficiency car or um. It's just money in 348 00:18:43,440 --> 00:18:48,239 Speaker 1: your pocket that you otherwise would have spent unnecessarily. And 349 00:18:48,280 --> 00:18:51,000 Speaker 1: like you said, this is just harmful and you're spending 350 00:18:51,040 --> 00:18:54,040 Speaker 1: money at So that's a great one, right, there Chris 351 00:18:54,080 --> 00:18:57,760 Speaker 1: smoking thousands of dollars a year. Bam, right in your pocket. Boom. 352 00:18:58,760 --> 00:19:01,359 Speaker 1: They say quit drinking in this are iCal too, that 353 00:19:01,400 --> 00:19:04,360 Speaker 1: your addictions are costing you money pretty much. Anything that 354 00:19:04,480 --> 00:19:09,000 Speaker 1: you could give up, yeah, that maybe you should give 355 00:19:09,080 --> 00:19:13,400 Speaker 1: up that can save you money that falls into this category. Yeah, 356 00:19:13,480 --> 00:19:15,200 Speaker 1: or maybe you know, if you like your glass wine 357 00:19:15,200 --> 00:19:17,600 Speaker 1: with dinner, maybe just get a little maybe just pick 358 00:19:17,640 --> 00:19:19,560 Speaker 1: and choose and cut down and save a little money 359 00:19:19,600 --> 00:19:21,879 Speaker 1: and improve your health a little bit right by the 360 00:19:22,200 --> 00:19:27,240 Speaker 1: gigantic box of wine. Yeah, to get a better value. 361 00:19:27,359 --> 00:19:31,199 Speaker 1: Moderation it's the key, except with smoking, you should there 362 00:19:31,200 --> 00:19:35,439 Speaker 1: shouldn't even be moderation there. Household energy is the one 363 00:19:35,440 --> 00:19:39,199 Speaker 1: I'm obsessed with pretty much. Yeah. I grew up in 364 00:19:39,240 --> 00:19:44,880 Speaker 1: a house you know, teachers as parents, uh three kids, like, 365 00:19:44,920 --> 00:19:47,920 Speaker 1: we had to use coupons and turn off the lights 366 00:19:47,960 --> 00:19:49,840 Speaker 1: when you left the room and not leave the TV going. 367 00:19:50,000 --> 00:19:52,240 Speaker 1: And we had to do that to get by and 368 00:19:52,320 --> 00:19:55,040 Speaker 1: to live just a normal, lower middle class life. But 369 00:19:55,119 --> 00:19:57,640 Speaker 1: that's not something you should change because it's just wasteful. 370 00:19:59,040 --> 00:20:01,840 Speaker 1: Well yeah you yeah, even if you have the dough like, 371 00:20:01,960 --> 00:20:05,320 Speaker 1: you shouldn't waste energy. There's a yeah, that's exactly right. 372 00:20:05,359 --> 00:20:07,640 Speaker 1: That's one of the that's a good point, Chuck. Like, 373 00:20:07,680 --> 00:20:12,080 Speaker 1: one of the things about changing your mindset to like 374 00:20:12,119 --> 00:20:15,560 Speaker 1: a saving mindset is you know, not only is it 375 00:20:15,640 --> 00:20:19,239 Speaker 1: good for you financially, but it also tends to have 376 00:20:19,320 --> 00:20:22,600 Speaker 1: like positive spillover effects, Like, for example, you're saving money, 377 00:20:22,600 --> 00:20:24,960 Speaker 1: saving energy, but it's also a lot better for the 378 00:20:25,080 --> 00:20:30,200 Speaker 1: environment anything. Anytime you're cutting out waste, there's pretty much 379 00:20:30,240 --> 00:20:33,760 Speaker 1: no downside to that. So this is a good example 380 00:20:33,800 --> 00:20:36,560 Speaker 1: of like a good positive spillover effect. Yeah. Do you 381 00:20:36,560 --> 00:20:39,880 Speaker 1: know what I do is I think about the electronic uh, 382 00:20:40,040 --> 00:20:42,720 Speaker 1: the meter on the side of your house spinning, and 383 00:20:42,760 --> 00:20:46,080 Speaker 1: I'm literally every time I turn things off and follow 384 00:20:46,119 --> 00:20:48,440 Speaker 1: Emily around the house turning things off after she turns 385 00:20:48,480 --> 00:20:52,119 Speaker 1: them on, I literally think about the meter slowing down, 386 00:20:52,640 --> 00:20:55,040 Speaker 1: and it makes me like breathe a sigh of relief 387 00:20:55,160 --> 00:20:58,040 Speaker 1: as the meter breathes a sigh of relief. I know 388 00:20:58,160 --> 00:21:00,680 Speaker 1: it sounds silly, but no, it doesn't really think about 389 00:21:00,680 --> 00:21:02,880 Speaker 1: that things turning down. I mean just going, oh, yeah, 390 00:21:02,920 --> 00:21:05,000 Speaker 1: that's much more like it. There is an invention out 391 00:21:05,040 --> 00:21:08,359 Speaker 1: there that is made for you. It's pretty new, but 392 00:21:08,400 --> 00:21:10,320 Speaker 1: I believe it's on the market. You can plug it 393 00:21:10,359 --> 00:21:14,520 Speaker 1: into an outlet, and what it does is eavesdrops on 394 00:21:14,840 --> 00:21:18,560 Speaker 1: your electrical use and it can actually sort out what's 395 00:21:18,560 --> 00:21:23,280 Speaker 1: doing what. But the read out shows you how much 396 00:21:23,320 --> 00:21:25,439 Speaker 1: electricity you're using, and I think you can convert it 397 00:21:25,480 --> 00:21:27,480 Speaker 1: to like a dollar amount too or something. And the 398 00:21:27,520 --> 00:21:31,040 Speaker 1: whole point is if you see how much you're using, 399 00:21:31,560 --> 00:21:34,640 Speaker 1: you'll want to decrease it. So you would love this 400 00:21:34,680 --> 00:21:37,360 Speaker 1: thing because it would show a decreased amount every time 401 00:21:37,359 --> 00:21:39,760 Speaker 1: you turned off a light or unplug something that would 402 00:21:39,760 --> 00:21:44,320 Speaker 1: be stressed about that being plugged in though you know, um, 403 00:21:44,760 --> 00:21:48,320 Speaker 1: we talked about vampire energy earlier. That's the things that 404 00:21:48,359 --> 00:21:51,159 Speaker 1: you leave on standby power overnight or pretty much all 405 00:21:51,160 --> 00:21:56,520 Speaker 1: the time. Um, the average house uses one dollars two 406 00:21:56,520 --> 00:22:01,280 Speaker 1: power devices that are turned off each year, a hundred 407 00:22:01,320 --> 00:22:04,280 Speaker 1: dollars to power things that aren't even on. That's that's 408 00:22:04,359 --> 00:22:07,720 Speaker 1: money that you can and like your little smartphone plug, 409 00:22:08,040 --> 00:22:10,160 Speaker 1: that's even if your phone is not plugged into it, 410 00:22:10,160 --> 00:22:12,720 Speaker 1: it's sucking energy. Well. Plus it's a bad idea also 411 00:22:12,840 --> 00:22:15,359 Speaker 1: to charge your phone overnight because it's bad for your 412 00:22:15,359 --> 00:22:19,000 Speaker 1: battery typically to overcharge it. Oh yeah, it's a good idea. Uh. 413 00:22:19,040 --> 00:22:22,520 Speaker 1: And then annually in the US. Vampire power costs ten 414 00:22:22,560 --> 00:22:25,880 Speaker 1: billion dollars all over the US each year, So that's 415 00:22:25,880 --> 00:22:29,280 Speaker 1: pretty substantial. If you pull everyone together, if you divide 416 00:22:29,320 --> 00:22:32,359 Speaker 1: by three million, that's a lot of money in your pocket. 417 00:22:32,480 --> 00:22:34,119 Speaker 1: So what do you do? Set up a charging station, 418 00:22:34,600 --> 00:22:36,520 Speaker 1: which is what I have at my house, put that 419 00:22:36,600 --> 00:22:39,440 Speaker 1: all in a power strip, and turn that power strip 420 00:22:39,480 --> 00:22:42,240 Speaker 1: off and unplug it even even better, and then just 421 00:22:42,280 --> 00:22:45,120 Speaker 1: shoot it with a gun. Shot with a gun, like 422 00:22:45,160 --> 00:22:47,680 Speaker 1: the TV on And I I hate all those lights anyway, 423 00:22:47,800 --> 00:22:50,439 Speaker 1: Like I like to sleep in darkness. And if you 424 00:22:50,480 --> 00:22:52,040 Speaker 1: look in your room, you probably have like three or 425 00:22:52,040 --> 00:22:55,919 Speaker 1: four lights that are just on, like your cable box. 426 00:22:56,280 --> 00:22:59,159 Speaker 1: They're probably affecting your brain in some way. At the 427 00:22:59,240 --> 00:23:04,359 Speaker 1: very least they're affecting my wallet. So household energy that 428 00:23:04,440 --> 00:23:07,359 Speaker 1: was pretty good stuff. Yeah, by energy Star. Yeah, there's 429 00:23:07,400 --> 00:23:10,280 Speaker 1: a there's a lot of rebates out there right now. Um. 430 00:23:10,359 --> 00:23:14,960 Speaker 1: The government has put like a huge push behind getting 431 00:23:15,000 --> 00:23:18,919 Speaker 1: people that have more energy efficient um stuff. Yeah, I 432 00:23:18,920 --> 00:23:21,240 Speaker 1: just got one fifty bucks. Yeah so did you. Yeah, 433 00:23:21,359 --> 00:23:24,880 Speaker 1: you can definitely just say, um if you just look 434 00:23:24,920 --> 00:23:28,320 Speaker 1: for the energy Star thing when you're buying an appliance 435 00:23:28,400 --> 00:23:30,440 Speaker 1: or something and then go online before you buy it 436 00:23:30,520 --> 00:23:33,000 Speaker 1: and see if there's a rebate, because basically, it's just 437 00:23:33,040 --> 00:23:35,119 Speaker 1: like you got it if you got it on sale. 438 00:23:35,200 --> 00:23:37,480 Speaker 1: This is an extra fifty bucks, a hundred bucks whatever 439 00:23:37,800 --> 00:23:41,000 Speaker 1: that you'll get back in six eight weeks just for 440 00:23:41,240 --> 00:23:44,080 Speaker 1: mailing in a copy of your receipt. Why would you 441 00:23:44,119 --> 00:23:46,920 Speaker 1: not do that? That's right now, I think it's a 442 00:23:46,920 --> 00:23:49,600 Speaker 1: good time for a break because after this it's the 443 00:23:49,640 --> 00:23:55,280 Speaker 1: home stretch, which includes health insurance, money saving tips, and 444 00:23:55,320 --> 00:23:58,440 Speaker 1: then a few tips from your older buddies. Here about 445 00:23:58,520 --> 00:24:01,479 Speaker 1: what you can do with that money saving for your future? 446 00:24:07,840 --> 00:24:09,879 Speaker 1: All right, really quickly, before we get into tips, I 447 00:24:09,880 --> 00:24:12,199 Speaker 1: looked up insurance a little bit because, like a dummy 448 00:24:12,480 --> 00:24:15,840 Speaker 1: in my mid twenties, when I didn't have like anything 449 00:24:15,880 --> 00:24:18,960 Speaker 1: other than waiting tables jobs, I skipped on insurance because 450 00:24:18,960 --> 00:24:20,760 Speaker 1: I didn't want to pay a couple hundred dollars a month. 451 00:24:21,800 --> 00:24:23,840 Speaker 1: So I got to think. In today, here's an older dude, 452 00:24:24,160 --> 00:24:26,399 Speaker 1: how much it costs to stay in a hospital. The 453 00:24:26,400 --> 00:24:28,879 Speaker 1: average cost of a hospital stay in the US is 454 00:24:29,000 --> 00:24:33,320 Speaker 1: about six bucks. The average hospital the media and hospital 455 00:24:33,400 --> 00:24:36,920 Speaker 1: stay in the U s A. It's three times more 456 00:24:37,000 --> 00:24:39,440 Speaker 1: than other industrialized countries. Which is a whole different thing. 457 00:24:39,840 --> 00:24:42,840 Speaker 1: But eighteen thousand dollars is the average median stay in 458 00:24:42,880 --> 00:24:47,159 Speaker 1: a hospital. The Obamacare is coming out next month and 459 00:24:47,200 --> 00:24:49,800 Speaker 1: I think the average mid tier insurance policy will be 460 00:24:49,840 --> 00:24:53,520 Speaker 1: about three five bucks. So you would have to pay 461 00:24:53,600 --> 00:24:56,760 Speaker 1: on that insurance policy fifty five months, four and a 462 00:24:56,800 --> 00:25:01,399 Speaker 1: half years to equal out one hospital, a one bout 463 00:25:01,600 --> 00:25:06,439 Speaker 1: of something, one bad car wreck. Like, the point is, 464 00:25:06,440 --> 00:25:08,840 Speaker 1: you're not doing yourself any favors if you think you're 465 00:25:08,840 --> 00:25:11,199 Speaker 1: saving by not paying insurance. And I know when you're 466 00:25:11,240 --> 00:25:13,440 Speaker 1: twenty three and twenty five you don't think being is 467 00:25:13,440 --> 00:25:16,600 Speaker 1: gonna happen to you, but you are screwed if it does. 468 00:25:17,600 --> 00:25:22,000 Speaker 1: So just be smart, get insurance and you're covered unless 469 00:25:22,000 --> 00:25:27,840 Speaker 1: you're ned Flanders and then you consider a form of gambling. Yeah, um, 470 00:25:27,920 --> 00:25:31,160 Speaker 1: so insurance, that's a good one. Yeah. And like I said, um, 471 00:25:31,200 --> 00:25:33,160 Speaker 1: if you don't have insurance, I agree with you, Chuck. 472 00:25:33,320 --> 00:25:35,320 Speaker 1: Health insurance is a good way to go if you 473 00:25:35,359 --> 00:25:39,320 Speaker 1: already have insurance, car insurance, any kind of insurance. Um 474 00:25:39,560 --> 00:25:44,679 Speaker 1: check out if you have a svelt coverage right, and 475 00:25:44,680 --> 00:25:47,119 Speaker 1: then you know, try to save some money without shooting 476 00:25:47,119 --> 00:25:49,520 Speaker 1: yourself in the foot over time. But Yes, going without 477 00:25:49,520 --> 00:25:51,600 Speaker 1: insurance is not a good way to save money. A 478 00:25:51,600 --> 00:25:54,360 Speaker 1: good way to save money is to possibly look at 479 00:25:54,440 --> 00:25:57,800 Speaker 1: your cell phone bill and say, do I need the 480 00:25:57,800 --> 00:25:59,960 Speaker 1: plan that I have? Yeah? Do I need all those 481 00:26:00,440 --> 00:26:03,000 Speaker 1: unlimited text or see how many texts do you send 482 00:26:03,000 --> 00:26:04,520 Speaker 1: a month on average? Right? You might be able to 483 00:26:04,520 --> 00:26:06,199 Speaker 1: cut it back a little bit. Yeah, that that's a 484 00:26:06,440 --> 00:26:08,760 Speaker 1: that's another good point you keep raising, like all these 485 00:26:08,800 --> 00:26:13,800 Speaker 1: awesome points that deserve elaborating. But um, the first step 486 00:26:13,840 --> 00:26:16,840 Speaker 1: to all of this is to write down your monthly expenses, 487 00:26:17,600 --> 00:26:19,440 Speaker 1: track them for a little while, and you'll see where 488 00:26:19,440 --> 00:26:21,400 Speaker 1: your money is going. Just right out of the gate, 489 00:26:21,400 --> 00:26:23,360 Speaker 1: a lot of stuff will become obvious that you can 490 00:26:23,440 --> 00:26:26,679 Speaker 1: where you can try totally will right. Um. But the 491 00:26:26,800 --> 00:26:28,879 Speaker 1: second step to that is to look at all of 492 00:26:28,920 --> 00:26:31,200 Speaker 1: the things you're currently paying for that you're like, okay, 493 00:26:31,240 --> 00:26:33,439 Speaker 1: I need all this and figure out ways to trim 494 00:26:33,480 --> 00:26:37,280 Speaker 1: them individually. So, whether it's car insurance, whether it's um, 495 00:26:37,440 --> 00:26:39,600 Speaker 1: your cell phone bill, there's there's always a way to 496 00:26:39,920 --> 00:26:44,000 Speaker 1: cut it down a little bit. That's right. Uh. Living 497 00:26:44,000 --> 00:26:47,480 Speaker 1: debt free it's something we believe in now after incurring 498 00:26:47,480 --> 00:26:49,080 Speaker 1: credit card debt for a number of years, we got 499 00:26:49,160 --> 00:26:52,199 Speaker 1: rid of it all and haven't used credit cards in 500 00:26:52,240 --> 00:26:55,440 Speaker 1: like eight years. Oh yeah, yep. We if we can't 501 00:26:55,440 --> 00:26:58,040 Speaker 1: afford it that month, we don't get it. And do 502 00:26:58,080 --> 00:26:59,760 Speaker 1: you use the credit card to get it and then 503 00:26:59,760 --> 00:27:03,120 Speaker 1: pay it off though, just to keep your credit score up? Uh, 504 00:27:03,160 --> 00:27:06,000 Speaker 1: we run everything through our American Express, which would we 505 00:27:06,040 --> 00:27:08,960 Speaker 1: pay off each month? And um, well, this this article 506 00:27:09,000 --> 00:27:12,600 Speaker 1: makes a really good point, like if you are having 507 00:27:12,640 --> 00:27:15,480 Speaker 1: to pay interest on your credit card, that means you're 508 00:27:15,560 --> 00:27:18,600 Speaker 1: buying things that you can't afford. And you pay interest 509 00:27:18,640 --> 00:27:21,119 Speaker 1: on your credit card when you buy something and you 510 00:27:21,160 --> 00:27:22,640 Speaker 1: can't pay it off at the end of the month, 511 00:27:23,480 --> 00:27:25,600 Speaker 1: then that's that It sounds like you have a very 512 00:27:25,640 --> 00:27:27,840 Speaker 1: good policy going there. It's a good policy because when 513 00:27:27,840 --> 00:27:30,000 Speaker 1: we looked at what we were spending on finance chargers, 514 00:27:30,119 --> 00:27:34,120 Speaker 1: it was ridiculously wasteful. Yeah, and it makes you angry 515 00:27:34,160 --> 00:27:36,680 Speaker 1: when you really stopped and look at it. And uh, 516 00:27:36,760 --> 00:27:38,440 Speaker 1: because you know your hard for your money, you get 517 00:27:38,480 --> 00:27:40,320 Speaker 1: taxed a lot anyway. The last thing you want to 518 00:27:40,320 --> 00:27:43,560 Speaker 1: do is start throwing the man more money just because 519 00:27:43,680 --> 00:27:45,280 Speaker 1: he said I've got a little piece of plastic and 520 00:27:45,359 --> 00:27:47,360 Speaker 1: go hog wild for a little while. Right, You don't 521 00:27:47,400 --> 00:27:49,520 Speaker 1: have to wait for this, just get it now. And 522 00:27:49,560 --> 00:27:52,879 Speaker 1: that's a that's another good point that this article made. UM. 523 00:27:53,560 --> 00:27:55,440 Speaker 1: One of the things you can institute is a one 524 00:27:55,480 --> 00:27:59,240 Speaker 1: month waiting period for all purchases, all major purchases, any 525 00:27:59,240 --> 00:28:02,920 Speaker 1: purchase you're excited it about, you write it down instead 526 00:28:02,920 --> 00:28:04,840 Speaker 1: of buying it. You just write down what you want, 527 00:28:04,880 --> 00:28:06,679 Speaker 1: and then at after a month, you go back to 528 00:28:06,720 --> 00:28:09,120 Speaker 1: it and say, do I still want this? Probably more 529 00:28:09,160 --> 00:28:11,040 Speaker 1: often than not you're gonna be like, I don't even 530 00:28:11,119 --> 00:28:13,600 Speaker 1: remember why I wanted that, yeah, or wait for good. 531 00:28:13,880 --> 00:28:16,159 Speaker 1: We do a lot of the financing deals, like I 532 00:28:16,160 --> 00:28:19,440 Speaker 1: wanted a sound bar for the TV, and I waited 533 00:28:19,520 --> 00:28:22,479 Speaker 1: like a year to get it right, I waited till 534 00:28:22,480 --> 00:28:25,200 Speaker 1: the right deal came along in a certain store had 535 00:28:25,240 --> 00:28:28,440 Speaker 1: a twenty four month no interest deal, and now I'm 536 00:28:28,440 --> 00:28:30,399 Speaker 1: paying like, you know, twenty bucks a month ward or something. 537 00:28:31,160 --> 00:28:33,439 Speaker 1: And uh, but you've gotta be really careful. If you're 538 00:28:33,480 --> 00:28:36,359 Speaker 1: bad about paying your bills, you can get jacked around 539 00:28:36,359 --> 00:28:39,360 Speaker 1: on the finance because at the end of twenty four 540 00:28:39,400 --> 00:28:43,080 Speaker 1: months it's interest, or if you miss a month or something, 541 00:28:43,160 --> 00:28:46,800 Speaker 1: it's pretty ridiculous. I recommend financing deals, but you just 542 00:28:46,840 --> 00:28:50,880 Speaker 1: have to be really vigilant with your bills on time. 543 00:28:51,400 --> 00:28:55,760 Speaker 1: Another good reason to stop and wait a month, a week, whatever. 544 00:28:55,920 --> 00:29:01,800 Speaker 1: If you just basically put a moratorium in any immediate sending, um, 545 00:29:01,840 --> 00:29:03,840 Speaker 1: it'll cause you to go poke around the internet and, 546 00:29:03,880 --> 00:29:05,440 Speaker 1: like you said, to see if you can find like 547 00:29:05,520 --> 00:29:10,480 Speaker 1: a better like financing deal. Maybe somebody else has it 548 00:29:10,520 --> 00:29:13,800 Speaker 1: for less um. If you do use your credit cards, 549 00:29:13,840 --> 00:29:17,520 Speaker 1: some credit cards have deals with certain merchants to where 550 00:29:17,520 --> 00:29:20,800 Speaker 1: you'll actually get some cash back um, which is basically 551 00:29:20,800 --> 00:29:23,600 Speaker 1: just like money off and just money off. There's a 552 00:29:23,600 --> 00:29:27,600 Speaker 1: lot of reasons to stop and then figure out how 553 00:29:27,720 --> 00:29:30,080 Speaker 1: you can get that thing you want for the least 554 00:29:30,080 --> 00:29:32,520 Speaker 1: amount of money, which makes it even sweeter when you 555 00:29:32,560 --> 00:29:34,840 Speaker 1: do get it. All Right, dude, so we've given a 556 00:29:34,880 --> 00:29:37,040 Speaker 1: lot of good little tips on how to save money. 557 00:29:37,520 --> 00:29:41,640 Speaker 1: You're saving some dough even if you're a millennial. Pride 558 00:29:41,680 --> 00:29:44,440 Speaker 1: yourself on saving a little money and not being wasteful. Yeah, 559 00:29:44,720 --> 00:29:48,120 Speaker 1: I mean, like it's just save what you can. Yeah. Uh. 560 00:29:48,160 --> 00:29:51,320 Speaker 1: So what you want to think about next is, all right, 561 00:29:51,480 --> 00:29:53,280 Speaker 1: I have a little extra change here, and now what 562 00:29:53,320 --> 00:29:54,360 Speaker 1: do I do? Do you want to put in a 563 00:29:54,360 --> 00:29:57,040 Speaker 1: piggy bank or under the mattress? Or start investing in 564 00:29:57,080 --> 00:30:00,600 Speaker 1: stocks or gambling on football. What should I do? Well? 565 00:30:00,640 --> 00:30:02,840 Speaker 1: The first thing you want to do is to create 566 00:30:03,000 --> 00:30:07,720 Speaker 1: a fund, basically an emergency fund. The rule of thumb 567 00:30:07,800 --> 00:30:11,280 Speaker 1: is you have three to six months worth of expenses 568 00:30:11,800 --> 00:30:14,680 Speaker 1: tucked away in a savings account that you can get to, 569 00:30:15,120 --> 00:30:19,800 Speaker 1: but you don't touch. Um, just in case if you're 570 00:30:19,840 --> 00:30:23,560 Speaker 1: laid off something terrible happens. You have a significant amount 571 00:30:23,560 --> 00:30:26,480 Speaker 1: of money that you can live on no matter what. 572 00:30:26,600 --> 00:30:28,160 Speaker 1: You're not gonna get kicked out of your home. You're 573 00:30:28,200 --> 00:30:31,240 Speaker 1: not gonna go hungry. That's right, right. That's pretty much 574 00:30:31,280 --> 00:30:33,520 Speaker 1: the first thing you want to do when you're saving money. Like, 575 00:30:33,560 --> 00:30:36,880 Speaker 1: as you're saving all this money and you're putting it away, UM, 576 00:30:36,920 --> 00:30:42,080 Speaker 1: that's the pot that you wanted to go into. UM. 577 00:30:42,120 --> 00:30:47,520 Speaker 1: After that, you have a little more leeway to do 578 00:30:47,640 --> 00:30:50,200 Speaker 1: things with, like you want to maybe pay off debt 579 00:30:50,440 --> 00:30:53,800 Speaker 1: is a good second step, yeah, because if you're in debt, 580 00:30:53,840 --> 00:30:56,760 Speaker 1: then you're wasting money and it's no fun to pay 581 00:30:56,880 --> 00:31:00,680 Speaker 1: debt down, but it's super satisfying once you have it is, 582 00:31:00,880 --> 00:31:02,760 Speaker 1: and it can be fun to pay debt down, especially 583 00:31:02,760 --> 00:31:05,560 Speaker 1: if you're watching it climb down and get closer and 584 00:31:05,600 --> 00:31:08,320 Speaker 1: closer to zero, and when you write that last check, 585 00:31:08,440 --> 00:31:12,560 Speaker 1: you're just like, I'll see you in hell. You know. Um, 586 00:31:12,640 --> 00:31:16,600 Speaker 1: you're done. And from that point on you've got an 587 00:31:16,680 --> 00:31:20,720 Speaker 1: emergency fund, your debt free, and then now you can 588 00:31:20,720 --> 00:31:22,720 Speaker 1: do some fun stuff with your money. Yeah, you're on 589 00:31:22,760 --> 00:31:25,400 Speaker 1: the right track at this point. Hopefully by now you've 590 00:31:25,960 --> 00:31:28,040 Speaker 1: got a budget that will work for you. The key 591 00:31:28,040 --> 00:31:31,000 Speaker 1: with your budget is to do something that's reasonable for 592 00:31:31,040 --> 00:31:33,040 Speaker 1: you that you can stick to. It's sort of like 593 00:31:33,040 --> 00:31:35,680 Speaker 1: when I was reading about this, it's sort of like dieting, Like, 594 00:31:35,920 --> 00:31:37,760 Speaker 1: you know, if you set yourself up for some stupid 595 00:31:37,800 --> 00:31:39,760 Speaker 1: diet that you're not gonna follow, I'm only gonna have 596 00:31:39,800 --> 00:31:43,320 Speaker 1: an apple and a canatuna like Kristen Bale and the Machinist. Yeah, 597 00:31:43,480 --> 00:31:46,320 Speaker 1: chances are you're not gonna be successful. So it's really 598 00:31:46,480 --> 00:31:50,720 Speaker 1: like dieting. It's more like a lifestyle change and finding 599 00:31:50,840 --> 00:31:54,360 Speaker 1: whatever financial lifestyle works for you where you're able to 600 00:31:54,400 --> 00:31:57,240 Speaker 1: save some and still give yourself some things and have 601 00:31:57,280 --> 00:32:01,080 Speaker 1: a little fun. Right. But the key here is to 602 00:32:01,280 --> 00:32:06,160 Speaker 1: pay yourself first, like you cannot if you're saving. The 603 00:32:06,240 --> 00:32:09,560 Speaker 1: first thing you do is save when you get paid. 604 00:32:10,120 --> 00:32:12,760 Speaker 1: The first thing, the first check. You right, the first 605 00:32:12,800 --> 00:32:16,240 Speaker 1: trancefer you make, the first payment you make is to yourself, 606 00:32:16,560 --> 00:32:20,160 Speaker 1: and you take whatever you budgeted for savings and take 607 00:32:20,200 --> 00:32:22,400 Speaker 1: it from your checking account and put it in your 608 00:32:22,400 --> 00:32:26,880 Speaker 1: savings account at exactly that's that's that's the other aspect 609 00:32:26,920 --> 00:32:29,240 Speaker 1: to it. Once you do that, that money does not exist. 610 00:32:29,280 --> 00:32:31,280 Speaker 1: It's in your savings. It's not for you to play 611 00:32:31,320 --> 00:32:33,120 Speaker 1: around with. It's not for you to be like, well, 612 00:32:33,160 --> 00:32:35,120 Speaker 1: I went a little over on my credit cards. I mean, 613 00:32:35,200 --> 00:32:37,080 Speaker 1: use my savings. You went a little over on your 614 00:32:37,120 --> 00:32:39,160 Speaker 1: credit card. That means you're gonna have to pay interest 615 00:32:39,200 --> 00:32:41,160 Speaker 1: on it that month because that money and savings does 616 00:32:41,200 --> 00:32:45,720 Speaker 1: not exist. And Josh will wrap your knuckles. Well, I'm 617 00:32:45,760 --> 00:32:48,560 Speaker 1: getting very excited right now that the idea of going 618 00:32:48,600 --> 00:32:52,200 Speaker 1: into your savings to pay off a credit card you 619 00:32:52,320 --> 00:32:57,200 Speaker 1: screwed up. That is true. UM. So if you do 620 00:32:57,480 --> 00:33:01,360 Speaker 1: have your budget working, you've got your emergency fund going one, um, 621 00:33:01,400 --> 00:33:04,680 Speaker 1: you're paying yourself every month, you're saving money. Um, then 622 00:33:04,720 --> 00:33:08,880 Speaker 1: you can start thinking about investments, things like maybe a 623 00:33:08,960 --> 00:33:13,000 Speaker 1: c D certificate of deposit. It's a nice, low risk 624 00:33:13,040 --> 00:33:15,520 Speaker 1: way to start if you're young. It is. It's so 625 00:33:15,840 --> 00:33:18,520 Speaker 1: it's such a paltry amount right now, but it's still 626 00:33:18,560 --> 00:33:20,959 Speaker 1: I mean, you do get money back. Gep your toe 627 00:33:21,040 --> 00:33:22,680 Speaker 1: in the water. If you're reticent, in a CD is 628 00:33:22,680 --> 00:33:24,640 Speaker 1: a good way to do it. So a CD is 629 00:33:24,680 --> 00:33:27,280 Speaker 1: basically like you give some you loan money to a 630 00:33:27,320 --> 00:33:31,480 Speaker 1: bank and it's for that amount of time three months, um, 631 00:33:31,840 --> 00:33:35,440 Speaker 1: a year, ten years, whatever, um. And basically the bank 632 00:33:35,520 --> 00:33:39,280 Speaker 1: says thanks for the money. At the end of the term, 633 00:33:39,400 --> 00:33:41,800 Speaker 1: they give you back that money and then some interest 634 00:33:42,440 --> 00:33:44,800 Speaker 1: for borrowing. So, like they put it in this article, 635 00:33:45,080 --> 00:33:47,080 Speaker 1: your money goes away and then when it comes back, 636 00:33:47,120 --> 00:33:50,480 Speaker 1: it brings more money with it. It's pretty simple. Yeah. Uh, 637 00:33:50,520 --> 00:33:52,400 Speaker 1: what if you're out there all right, Josh, I'm I'm 638 00:33:52,400 --> 00:33:56,520 Speaker 1: a millennial. I just got through watching Girls. I'm I'm 639 00:33:56,560 --> 00:34:00,720 Speaker 1: drinking uh pims cup on my sofa. Okay, And I say, 640 00:34:00,800 --> 00:34:03,800 Speaker 1: Josh and Chuck, this is great. But I've done these things. 641 00:34:04,320 --> 00:34:06,360 Speaker 1: I don't make much money. I'm an artist and crafter 642 00:34:07,280 --> 00:34:12,120 Speaker 1: of fine goods. I've only got twenty dollars a week extra. Um. 643 00:34:12,160 --> 00:34:14,200 Speaker 1: There's actually a lot you can do with twenty bucks 644 00:34:14,239 --> 00:34:17,480 Speaker 1: a week. No, there's not. There is, especially if you 645 00:34:17,520 --> 00:34:19,880 Speaker 1: look at that twenty bucks is part of a stream 646 00:34:19,960 --> 00:34:23,279 Speaker 1: of twenty bucks that you'll eventually have, UM that you say, 647 00:34:23,320 --> 00:34:24,800 Speaker 1: want to invest, All right, what can you do with 648 00:34:24,840 --> 00:34:27,839 Speaker 1: twenty Well, there's this cool thing called a drip. It's 649 00:34:27,880 --> 00:34:32,360 Speaker 1: a dividend reinvestment plan. UM. You can also look into 650 00:34:32,440 --> 00:34:35,840 Speaker 1: direct stock purchase plans. But basically, you are going to 651 00:34:35,880 --> 00:34:38,520 Speaker 1: a company that you believe in. You say, I have 652 00:34:38,640 --> 00:34:42,680 Speaker 1: twenty dollars and I want one share of your twenty 653 00:34:42,719 --> 00:34:45,680 Speaker 1: dollar stock, and they say, okay, here you go. It's 654 00:34:45,719 --> 00:34:49,440 Speaker 1: basically like a counter where you go and buy a 655 00:34:49,560 --> 00:34:53,719 Speaker 1: stock from the company directly, which saves you on brokerage fees. 656 00:34:54,040 --> 00:34:55,719 Speaker 1: So what you're saying is you can just invest a 657 00:34:55,760 --> 00:34:58,040 Speaker 1: little bit at a time and directly into these companies, 658 00:34:58,400 --> 00:35:00,799 Speaker 1: which all adds up and before you know it, you've 659 00:35:00,840 --> 00:35:03,480 Speaker 1: got like a couple of grand invested in this company. 660 00:35:03,600 --> 00:35:06,320 Speaker 1: Right or you know, there's there's supposedly about a thousand 661 00:35:06,320 --> 00:35:09,759 Speaker 1: companies in the United States that sell stock directly. You 662 00:35:09,800 --> 00:35:12,439 Speaker 1: don't have to go to an online brokerage, you don't 663 00:35:12,440 --> 00:35:14,880 Speaker 1: have to go to like your brick and mortar brokerage. 664 00:35:15,200 --> 00:35:17,080 Speaker 1: Like the companies like, we're not going to charge any 665 00:35:17,120 --> 00:35:19,879 Speaker 1: fees because you're giving us money for our stock, We're 666 00:35:19,920 --> 00:35:22,719 Speaker 1: happy to sell it to you. UM. And you are 667 00:35:22,840 --> 00:35:25,200 Speaker 1: just kind of building up a portfolio on your own. 668 00:35:25,680 --> 00:35:27,759 Speaker 1: It's a it's a good investment. If you're just going 669 00:35:27,840 --> 00:35:30,759 Speaker 1: to sit on something, if you're day trading, that's the 670 00:35:30,800 --> 00:35:33,840 Speaker 1: worst idea ever. I don't think you could do it 671 00:35:33,920 --> 00:35:36,440 Speaker 1: like that. But if you just wanted to build up stock, 672 00:35:36,480 --> 00:35:39,240 Speaker 1: if you say, I really believe in this company's future 673 00:35:39,600 --> 00:35:41,560 Speaker 1: and I want to have this stock fifty years from now, 674 00:35:42,160 --> 00:35:46,439 Speaker 1: why why just say it's only twenty bucks. Instead take 675 00:35:46,480 --> 00:35:50,080 Speaker 1: that twenty bucks and buy one Sheriff stock. That's one 676 00:35:50,080 --> 00:35:52,439 Speaker 1: thing you could do. If you've got a few hundred bucks, 677 00:35:52,520 --> 00:35:57,080 Speaker 1: maybe you could consider something called an index fund. Traditionally, 678 00:35:57,120 --> 00:36:00,600 Speaker 1: an index that tracks the SMP five is gonna return 679 00:36:00,640 --> 00:36:03,920 Speaker 1: about ten percent a year. That's pretty good, not bad money, no, 680 00:36:04,760 --> 00:36:06,359 Speaker 1: And you don't have to invest, like you know, ten 681 00:36:06,440 --> 00:36:08,600 Speaker 1: grand to do so. The other thing about an index 682 00:36:08,640 --> 00:36:12,400 Speaker 1: fund is um if you're buying compared to a mutual fund, 683 00:36:12,920 --> 00:36:17,400 Speaker 1: it's an unmanaged fund. There are five hundred stocks that 684 00:36:17,440 --> 00:36:21,640 Speaker 1: you own a percentage of in shares UM, and that's 685 00:36:21,680 --> 00:36:25,400 Speaker 1: the SMP five companies. And basically what you're doing is 686 00:36:25,480 --> 00:36:30,920 Speaker 1: investing in the market itself. Right, So it's unmanaged, which 687 00:36:30,960 --> 00:36:34,800 Speaker 1: means that the fees associated with it are next to nothing. Um. 688 00:36:34,840 --> 00:36:37,560 Speaker 1: If you have like a mutual fund that's managed, they 689 00:36:37,600 --> 00:36:40,680 Speaker 1: don't typically pay off as well and you're paying a 690 00:36:40,719 --> 00:36:44,320 Speaker 1: lot more in management fees. Um. There's a really good, 691 00:36:44,360 --> 00:36:49,160 Speaker 1: I think Frontline episode on index funds that came out 692 00:36:49,360 --> 00:36:52,600 Speaker 1: this year that's definitely worth watching, and I'll bet you 693 00:36:52,600 --> 00:36:55,799 Speaker 1: can get it for free online. Uh. If you have 694 00:36:55,840 --> 00:36:58,319 Speaker 1: a little bit more, let's say you've got five dollars um, 695 00:36:58,400 --> 00:37:00,239 Speaker 1: what that's gonna do is just open up your options 696 00:37:00,280 --> 00:37:03,000 Speaker 1: a little bit. Uh. You're gonna have a pick from 697 00:37:03,040 --> 00:37:07,040 Speaker 1: different companies, some of which might require a minimum of 698 00:37:07,080 --> 00:37:11,360 Speaker 1: let's say five, So it just opens your investment options 699 00:37:11,400 --> 00:37:15,200 Speaker 1: a little bit. You can shop around some. Um, you 700 00:37:15,280 --> 00:37:18,160 Speaker 1: might want to open what's called a discount brokerage account. Yeah. 701 00:37:18,200 --> 00:37:23,200 Speaker 1: It's just basically like an online stock trading platform, and 702 00:37:23,280 --> 00:37:26,960 Speaker 1: they're very cheap because they don't trade in micro seconds 703 00:37:27,040 --> 00:37:29,560 Speaker 1: or anything like that. It's just like this is where 704 00:37:29,560 --> 00:37:33,440 Speaker 1: you buy stock for as cheap as it comes pretty easy. Uh. 705 00:37:33,520 --> 00:37:37,799 Speaker 1: If you've got a grand land around, then buddy, you 706 00:37:37,800 --> 00:37:42,440 Speaker 1: are in the catbird seat. Uh. If you start with 707 00:37:42,480 --> 00:37:45,680 Speaker 1: a thousand dollars and invest an additional thousand each year, 708 00:37:46,160 --> 00:37:49,040 Speaker 1: you earn about ten percent annually and when you retire, 709 00:37:49,080 --> 00:37:51,160 Speaker 1: that money is going to turn into over half a 710 00:37:51,200 --> 00:37:57,439 Speaker 1: million dollars. And that's just a pretty standard like IRA right, yeah, yes, 711 00:37:58,160 --> 00:38:01,239 Speaker 1: it's speaking of I ras. If you have a if 712 00:38:01,320 --> 00:38:03,960 Speaker 1: you work for a company and they match, if they 713 00:38:04,000 --> 00:38:09,520 Speaker 1: do four oh one K matching, you want to do that, um, 714 00:38:09,560 --> 00:38:15,080 Speaker 1: because what that is is your company giving you. There's 715 00:38:15,120 --> 00:38:17,960 Speaker 1: no other way to put it. It's free money. Like you, 716 00:38:18,280 --> 00:38:21,880 Speaker 1: whatever you contribute, they'll match, like say, up to a 717 00:38:21,920 --> 00:38:25,600 Speaker 1: certain amount that you contribute. UM. That is literally your 718 00:38:25,640 --> 00:38:29,120 Speaker 1: company saying here's some extra money for your retirement. It's 719 00:38:29,200 --> 00:38:33,680 Speaker 1: what companies came up with to replace the old retirement 720 00:38:33,760 --> 00:38:36,400 Speaker 1: plans that they used to have in the heydays of 721 00:38:36,480 --> 00:38:39,520 Speaker 1: the unions. This is what we have today. So if 722 00:38:39,560 --> 00:38:41,799 Speaker 1: you're not taking advantage of that, you should. And there's 723 00:38:41,800 --> 00:38:43,719 Speaker 1: another reason to take advantage of a four oh one 724 00:38:43,800 --> 00:38:46,839 Speaker 1: K and to max it out. Frankly, because it's UM 725 00:38:47,080 --> 00:38:52,040 Speaker 1: deducted pre tax, it actually lowers your adjusted gross income, 726 00:38:52,440 --> 00:38:55,920 Speaker 1: which means you'll pay less taxes the more you contribute 727 00:38:55,960 --> 00:38:58,919 Speaker 1: to your four oh one K over the year. Boom. Yeah, 728 00:38:59,560 --> 00:39:03,560 Speaker 1: you should be a financial planner. I am for yourself. No, 729 00:39:03,640 --> 00:39:06,560 Speaker 1: I've been doing it on the side. Yeah, there's this 730 00:39:06,640 --> 00:39:09,000 Speaker 1: alley that I I set up on a couple of 731 00:39:09,040 --> 00:39:14,839 Speaker 1: garbage cans and people. I am fascinated by the stuff, Like, 732 00:39:14,960 --> 00:39:19,080 Speaker 1: it's very it. Once you start to really like get 733 00:39:19,120 --> 00:39:21,400 Speaker 1: into it and think about it and look around it 734 00:39:21,520 --> 00:39:24,560 Speaker 1: ways to like save, it's addictive. Well, I can say this. 735 00:39:24,800 --> 00:39:28,280 Speaker 1: Warren Buffett didn't become Warren Buffett by being disinterested in finance. 736 00:39:28,960 --> 00:39:31,520 Speaker 1: You know. He probably thought it was pretty neat early 737 00:39:31,560 --> 00:39:34,760 Speaker 1: on and look at him now. Maybe that's where you're headed. 738 00:39:35,360 --> 00:39:39,680 Speaker 1: I don't know about that. That's not like my primary interest, 739 00:39:39,760 --> 00:39:44,160 Speaker 1: you know, I just find it fascinating. Um what else, Chuck, 740 00:39:44,400 --> 00:39:49,560 Speaker 1: you got anything else? I have something else? Actually, Um, 741 00:39:49,719 --> 00:39:53,480 Speaker 1: this is just a total overview, just some starter ideas 742 00:39:54,120 --> 00:39:57,080 Speaker 1: like that was definitely not like a full rundown of 743 00:39:57,120 --> 00:40:00,960 Speaker 1: four one case and tax savings and that kind of stuff. Like, um, 744 00:40:01,000 --> 00:40:04,400 Speaker 1: whatever perched your ears up, Um, go look into it, 745 00:40:04,520 --> 00:40:07,640 Speaker 1: go do a little research. There's so much information online 746 00:40:07,920 --> 00:40:11,479 Speaker 1: about this stuff that it's just basically a never ending 747 00:40:11,520 --> 00:40:18,080 Speaker 1: supply this like free financial information, probably rivals, cute kitten videos, 748 00:40:18,239 --> 00:40:21,720 Speaker 1: and just the sheer volume of stuff on the internet. Yeah, 749 00:40:22,320 --> 00:40:24,560 Speaker 1: it sounds good to me. Yeah, get into it, people, 750 00:40:24,560 --> 00:40:28,040 Speaker 1: You'll you'll thank us later. So uh, okay, that's it 751 00:40:28,160 --> 00:40:29,960 Speaker 1: for this one. Yeah, all right. If you want to 752 00:40:30,040 --> 00:40:32,640 Speaker 1: learn more ways to save money, you can type in 753 00:40:32,640 --> 00:40:35,440 Speaker 1: ten easy ways to save money in the search bar 754 00:40:35,520 --> 00:40:38,239 Speaker 1: at how stuff works dot com. Uh. And we wish 755 00:40:38,280 --> 00:40:41,680 Speaker 1: you the best of luck in becoming financially free and 756 00:40:41,719 --> 00:40:44,160 Speaker 1: sticking it to the man. Yeah. Uh And since I 757 00:40:44,160 --> 00:40:48,960 Speaker 1: said search bar, it's time for listener mail. That's right. 758 00:40:49,040 --> 00:40:52,320 Speaker 1: I'm gonna call this um one of our better emails 759 00:40:52,360 --> 00:40:55,040 Speaker 1: about our death podcast, Dying Podcast. We heard from a 760 00:40:55,080 --> 00:40:57,520 Speaker 1: lot of people that really got a lot out of 761 00:40:57,520 --> 00:41:01,480 Speaker 1: this one, and it was very rewarding for us. So 762 00:41:01,520 --> 00:41:04,080 Speaker 1: this is from one of them. Hey, guys, my mom 763 00:41:04,160 --> 00:41:05,880 Speaker 1: passed away two years ago. When I was moved to 764 00:41:05,960 --> 00:41:08,359 Speaker 1: hospice for the last two weeks. It was a very 765 00:41:08,440 --> 00:41:11,040 Speaker 1: painful time for me, and I was nervous about listening 766 00:41:11,080 --> 00:41:13,879 Speaker 1: to this podcast. In fact, I was in two minds 767 00:41:13,880 --> 00:41:16,960 Speaker 1: about skipping it. However, I'm glad I did not skip it. 768 00:41:17,360 --> 00:41:20,400 Speaker 1: My mom went through each stage as you described. This 769 00:41:20,480 --> 00:41:22,879 Speaker 1: was the first time I had experienced anything like like this, 770 00:41:23,360 --> 00:41:25,359 Speaker 1: and it was horrible to watch. I thought she had 771 00:41:25,360 --> 00:41:27,120 Speaker 1: died in a lot of pain, struggling to breathe and 772 00:41:27,160 --> 00:41:29,399 Speaker 1: having to fight every step of the way. I now 773 00:41:29,480 --> 00:41:31,920 Speaker 1: realized she was going through the normal steps, and I 774 00:41:31,960 --> 00:41:33,479 Speaker 1: really wish I would have known this at the time. 775 00:41:33,880 --> 00:41:36,799 Speaker 1: I can confirm that sound is the last thing that goes. 776 00:41:37,239 --> 00:41:39,759 Speaker 1: About half an hour before she died, me and my 777 00:41:39,760 --> 00:41:41,799 Speaker 1: sisters asked the nurse if there was anything we could 778 00:41:41,840 --> 00:41:43,560 Speaker 1: do to help her, and she looked like she was 779 00:41:43,600 --> 00:41:46,279 Speaker 1: struggling to breathe. The nurse suggested putting on some of 780 00:41:46,320 --> 00:41:48,640 Speaker 1: her favorite music. Not only did this seem to calm 781 00:41:48,680 --> 00:41:50,839 Speaker 1: her down, but after a while we noticed that her 782 00:41:50,840 --> 00:41:53,280 Speaker 1: breathing noises started to match the rhythm of the music. 783 00:41:53,719 --> 00:41:56,480 Speaker 1: Was she trying to sing along? We think? So this 784 00:41:56,520 --> 00:41:58,399 Speaker 1: is one of the good memories I have over last week, 785 00:41:58,640 --> 00:42:00,560 Speaker 1: So I'm glad we did it. I just thought I 786 00:42:00,560 --> 00:42:02,360 Speaker 1: would email to say thank you for doing the show. 787 00:42:02,920 --> 00:42:04,920 Speaker 1: Even after two years, is still distressed me how my 788 00:42:04,960 --> 00:42:07,680 Speaker 1: mom died, And now I feel like I finally understand it, 789 00:42:08,040 --> 00:42:10,000 Speaker 1: and it's a big weight off my mind that she 790 00:42:10,080 --> 00:42:12,480 Speaker 1: didn't feel as much pain as she looked like she 791 00:42:12,600 --> 00:42:16,240 Speaker 1: was in Wow. So that is from uh Philippa Griggs 792 00:42:16,400 --> 00:42:20,000 Speaker 1: in Norwich, England, thank you very much for sending it. 793 00:42:20,080 --> 00:42:22,759 Speaker 1: And then it's very that's something else. Yeah, or maybe 794 00:42:22,760 --> 00:42:29,279 Speaker 1: it's pronounced norch ner ner nor Norwick. Sometimes h is 795 00:42:29,320 --> 00:42:34,719 Speaker 1: a sound. It's Norich nurch Norch, England. Thanks Philippa. That's 796 00:42:34,719 --> 00:42:37,080 Speaker 1: a cool name, jith. Yeah, thank you very much for 797 00:42:37,160 --> 00:42:38,759 Speaker 1: us sending it in. Thanks to all of you who 798 00:42:38,840 --> 00:42:43,160 Speaker 1: wrote in um about our Dying podcast, we really appreciate it. Uh. 799 00:42:43,160 --> 00:42:46,200 Speaker 1: If you want to let us know something we taught 800 00:42:46,200 --> 00:42:47,960 Speaker 1: you that meant a lot to you, we always like 801 00:42:48,040 --> 00:42:50,120 Speaker 1: to hear that. You can tweak to us at s 802 00:42:50,200 --> 00:42:53,239 Speaker 1: y SK podcast. You can join us on Facebook dot com, 803 00:42:53,280 --> 00:42:56,000 Speaker 1: slash Stuff you Should Know. You can send us an 804 00:42:56,000 --> 00:42:58,799 Speaker 1: email the Stuff Podcast at Discovery dot com. You can 805 00:42:58,800 --> 00:43:00,640 Speaker 1: come hang out with us at our home on the web. 806 00:43:01,000 --> 00:43:08,239 Speaker 1: Stuff you Should Know dot com for more on this 807 00:43:08,440 --> 00:43:10,959 Speaker 1: and thousands of other topics. Is it how Stuff works 808 00:43:10,960 --> 00:43:20,960 Speaker 1: dot Com Brought to you by Toyota. Let's go Places