1 00:00:00,120 --> 00:00:03,040 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt, 2 00:00:03,120 --> 00:00:08,920 Speaker 1: and today we're discussing ginormous jackpots, expensive algorithms, and geriatric roommates. 3 00:00:28,160 --> 00:00:30,680 Speaker 1: That's right, Joel. This is our Friday Flights where we 4 00:00:30,800 --> 00:00:33,159 Speaker 1: are talking through some of the different stories we came 5 00:00:33,200 --> 00:00:35,839 Speaker 1: across this week. We're gonna specifically talk about how they 6 00:00:35,840 --> 00:00:39,640 Speaker 1: are going to impact our finances and your finances. If 7 00:00:39,680 --> 00:00:42,040 Speaker 1: you're listening, and before we get to the stories, though 8 00:00:42,360 --> 00:00:45,199 Speaker 1: the time has come, you likely have heard about the 9 00:00:45,280 --> 00:00:48,000 Speaker 1: How the Money socks rumors are flying. These are the 10 00:00:48,320 --> 00:00:52,680 Speaker 1: meticulously designed socks that we created with the nice folks 11 00:00:52,720 --> 00:00:54,800 Speaker 1: over at Sock Fancy. I am holding a pair in 12 00:00:54,800 --> 00:00:56,560 Speaker 1: my hands right now, Matt. They look so good. They 13 00:00:56,600 --> 00:01:00,360 Speaker 1: are not only are they gorgeous, they are so ridiculously company. 14 00:01:00,520 --> 00:01:02,520 Speaker 1: And again, the reason these took so long is because 15 00:01:02,520 --> 00:01:04,200 Speaker 1: we really did want to make sure we had some 16 00:01:04,440 --> 00:01:06,360 Speaker 1: merch that we were proud of, not some of these 17 00:01:06,400 --> 00:01:09,040 Speaker 1: soft companies where they just printed the pictures. And we 18 00:01:09,240 --> 00:01:12,039 Speaker 1: joked about sharing the pictures of the some of the 19 00:01:12,040 --> 00:01:14,000 Speaker 1: crappy ones. I we will totally do that, will throw 20 00:01:14,000 --> 00:01:15,720 Speaker 1: it up at least on Instagram. I just held them 21 00:01:15,720 --> 00:01:17,559 Speaker 1: by the way, they smell like Hinton can either to listen, 22 00:01:19,160 --> 00:01:21,200 Speaker 1: you can eat them, but they smell so yeah. We 23 00:01:21,200 --> 00:01:23,760 Speaker 1: gave a few of several pairs of these away to 24 00:01:24,040 --> 00:01:28,759 Speaker 1: some folks who submitted listener money tips back for ourisode, 25 00:01:29,000 --> 00:01:31,400 Speaker 1: but we are now giving away five pairs to listeners 26 00:01:31,400 --> 00:01:34,280 Speaker 1: out there who leave a review over on Apple podcast 27 00:01:34,440 --> 00:01:36,520 Speaker 1: or if you give us a rating on Spotify or 28 00:01:36,600 --> 00:01:38,800 Speaker 1: some of the other platforms as well, like podcast Addict. 29 00:01:38,800 --> 00:01:40,440 Speaker 1: There are a lot of folks who listened over there 30 00:01:40,440 --> 00:01:42,200 Speaker 1: on that app as well, So all you gotta do 31 00:01:42,280 --> 00:01:44,800 Speaker 1: leave a review, even those old reviews that you may 32 00:01:44,840 --> 00:01:47,360 Speaker 1: have left previously, those count as well. But then send 33 00:01:47,480 --> 00:01:51,360 Speaker 1: us a screenshot or an email to resubmit your review 34 00:01:51,440 --> 00:01:53,680 Speaker 1: for the giveaway. Send those two how the money pot 35 00:01:53,720 --> 00:01:55,680 Speaker 1: at gmail dot com. Just make sure to do that 36 00:01:55,720 --> 00:01:58,840 Speaker 1: before end of day this coming Wednesday, and we will 37 00:01:58,880 --> 00:02:02,560 Speaker 1: announce those five winners on our next Friday flight, that's right, 38 00:02:02,560 --> 00:02:05,000 Speaker 1: And then we'll ship these gorgeous, lovely things out to 39 00:02:05,040 --> 00:02:07,440 Speaker 1: you and you'll be like, this is the best clothing 40 00:02:07,440 --> 00:02:08,800 Speaker 1: eye on my own. You might even throw away all 41 00:02:08,800 --> 00:02:10,239 Speaker 1: your other clothes and only where the hat of money 42 00:02:10,240 --> 00:02:12,720 Speaker 1: socks um. Although we don't suggest. If that's the case, 43 00:02:12,880 --> 00:02:15,720 Speaker 1: I'm fine with it. Uh that before we get to 44 00:02:15,960 --> 00:02:18,200 Speaker 1: kind of all the meatia stories we have to get 45 00:02:18,240 --> 00:02:20,280 Speaker 1: to this week. One thing I want to mention I 46 00:02:21,040 --> 00:02:23,120 Speaker 1: just talked about. We just talked about how crusty my 47 00:02:23,120 --> 00:02:25,359 Speaker 1: phone was getting. And it was one of those things 48 00:02:25,400 --> 00:02:28,280 Speaker 1: where I, as a frugalalite, was hoping to keep my 49 00:02:28,280 --> 00:02:31,560 Speaker 1: phone for a minimum of three years, and I threw 50 00:02:31,560 --> 00:02:33,840 Speaker 1: in the towel man I bought a new phone. Um, 51 00:02:33,919 --> 00:02:36,080 Speaker 1: it crossed my mind. But here's what pushed me over 52 00:02:36,080 --> 00:02:38,520 Speaker 1: the edge. I got the new I pre ordered the 53 00:02:38,520 --> 00:02:41,040 Speaker 1: new Google Pixel six A. Right now, I'm rolling with 54 00:02:41,080 --> 00:02:43,359 Speaker 1: the four A. The six A is at the newest. 55 00:02:43,639 --> 00:02:45,840 Speaker 1: The six A is the newest. I like literally just 56 00:02:45,880 --> 00:02:47,680 Speaker 1: came out, Like it's sitting at my house now and 57 00:02:47,680 --> 00:02:50,880 Speaker 1: I haven't even opened yet. But so, because of all 58 00:02:50,919 --> 00:02:54,120 Speaker 1: the issues I mentioned, the crack screen, the battery life, 59 00:02:54,200 --> 00:02:58,079 Speaker 1: messing up the charging board is is actually the biggest annoyance. 60 00:02:58,400 --> 00:03:00,480 Speaker 1: It's so hard to actually get my phone to charge 61 00:03:00,520 --> 00:03:02,680 Speaker 1: these days. But because of all those things, I was like, 62 00:03:02,720 --> 00:03:04,519 Speaker 1: I was at least interested. I was gonna look and 63 00:03:04,560 --> 00:03:06,280 Speaker 1: I was gonna see, you know how much can I 64 00:03:06,280 --> 00:03:08,239 Speaker 1: get from my phone? And some from folks in the 65 00:03:08,560 --> 00:03:11,880 Speaker 1: Facebook group, We're like, hey, check out Swap, check out Gazelle. 66 00:03:11,880 --> 00:03:13,640 Speaker 1: We've talked about the most websites on the show in 67 00:03:13,639 --> 00:03:15,320 Speaker 1: the past, but I was like, you're right, I should 68 00:03:15,320 --> 00:03:18,119 Speaker 1: go check those out. And uh, guess how much Gazelle 69 00:03:18,120 --> 00:03:20,040 Speaker 1: offered me for my two year old phone? Two year 70 00:03:20,080 --> 00:03:24,320 Speaker 1: old phone? How much was that phone? Brand new fifty 71 00:03:24,800 --> 00:03:26,920 Speaker 1: and it's kind of busted up, So I'm gonna guess 72 00:03:26,960 --> 00:03:29,240 Speaker 1: like sixty bucks? Okay, So they offered me twenty one 73 00:03:30,240 --> 00:03:32,600 Speaker 1: very much even worse. And then I went to cell Cell, 74 00:03:32,680 --> 00:03:36,360 Speaker 1: which is kind of like an aggregator, and the best 75 00:03:36,560 --> 00:03:37,960 Speaker 1: the most I could get paid for that phone was 76 00:03:38,040 --> 00:03:42,120 Speaker 1: eighty five from there, but decently, Yeah, that's still fair 77 00:03:42,200 --> 00:03:44,320 Speaker 1: for for what you got going on. It's okay, but 78 00:03:44,840 --> 00:03:47,520 Speaker 1: guess what. I went through the Google steps to see 79 00:03:47,520 --> 00:03:49,560 Speaker 1: how much Google would give me from my phone if 80 00:03:49,600 --> 00:03:52,119 Speaker 1: I were to pre order the source the Pixel six 81 00:03:52,160 --> 00:03:56,720 Speaker 1: A and two sixty two dollars what they offer. Yeah, 82 00:03:57,120 --> 00:03:59,040 Speaker 1: so it was like almost like a free phone for 83 00:03:59,080 --> 00:04:01,080 Speaker 1: the last couple of years. Did you realize I'll bust 84 00:04:01,080 --> 00:04:02,920 Speaker 1: it up? It is? Yeah, So they asked that once 85 00:04:02,920 --> 00:04:04,720 Speaker 1: you receive it, are they're gonna be like, oh, sorry, buddy, 86 00:04:04,720 --> 00:04:08,720 Speaker 1: we're gonna if I had money, I hope that they 87 00:04:08,720 --> 00:04:10,400 Speaker 1: asked if it had a bus to screen. I'm like yeah, 88 00:04:10,680 --> 00:04:12,760 Speaker 1: and uh, And if it hadn't, I think I would 89 00:04:12,760 --> 00:04:15,080 Speaker 1: have gotten three hulls, which is still shocking that you 90 00:04:15,080 --> 00:04:17,080 Speaker 1: could only lose fifty bucks on the phone after two years. 91 00:04:17,200 --> 00:04:19,839 Speaker 1: So it's one of those things where, um, it made 92 00:04:19,920 --> 00:04:22,559 Speaker 1: sense because of that. That's a great deal. It changed 93 00:04:22,640 --> 00:04:25,400 Speaker 1: the economics of of getting into a lot of folks 94 00:04:25,400 --> 00:04:27,080 Speaker 1: out there who might have an older pixel like you. 95 00:04:27,240 --> 00:04:28,560 Speaker 1: I mean, can you trade in some of your some 96 00:04:28,560 --> 00:04:30,760 Speaker 1: of the older pixel pixels as well? I think so. Yeah, 97 00:04:30,760 --> 00:04:32,440 Speaker 1: Well I think actually no, I think the four A 98 00:04:32,600 --> 00:04:34,640 Speaker 1: is the oldest down So if you're rolling with a 99 00:04:34,680 --> 00:04:37,360 Speaker 1: three or three A, it's probably not valuable enough. Um, 100 00:04:37,400 --> 00:04:39,680 Speaker 1: but if you got a four A or newer, it's 101 00:04:39,720 --> 00:04:41,360 Speaker 1: a great deal. Yeah, the upgrade might make sense. And 102 00:04:41,400 --> 00:04:43,480 Speaker 1: I think right now, yes, right now they're doing for 103 00:04:43,640 --> 00:04:45,280 Speaker 1: like a limited period of time. I think yeah, I 104 00:04:45,320 --> 00:04:46,840 Speaker 1: think so. I think it's literally just for a few 105 00:04:46,880 --> 00:04:49,520 Speaker 1: more days. So get out of folks, and and there's 106 00:04:49,520 --> 00:04:52,240 Speaker 1: a you get a free Google pixel buds that your 107 00:04:52,279 --> 00:04:54,680 Speaker 1: buds to with the pre order, and I'm like, I 108 00:04:54,720 --> 00:04:56,280 Speaker 1: don't even know if I want them. I might sell them, 109 00:04:56,320 --> 00:04:58,280 Speaker 1: but uh and make some of that money back. But 110 00:04:58,680 --> 00:05:00,120 Speaker 1: it felt like a no brainer when your kids will 111 00:05:00,200 --> 00:05:02,120 Speaker 1: use them for for something I'm sure they're trying to 112 00:05:02,120 --> 00:05:04,240 Speaker 1: steal on my cave. Okay, so the real question, will 113 00:05:04,279 --> 00:05:07,640 Speaker 1: you get a case for this phone discussion? We'll see, 114 00:05:07,680 --> 00:05:09,800 Speaker 1: we'll see probably, or are you're just gonna ride this 115 00:05:09,839 --> 00:05:12,760 Speaker 1: wave of cheap phones straight to the landfill Over the course, 116 00:05:12,880 --> 00:05:14,640 Speaker 1: You're gonna just have to deal with this on your conscience, 117 00:05:14,680 --> 00:05:16,160 Speaker 1: you know, when you're laying there on your deathbed and 118 00:05:17,120 --> 00:05:19,400 Speaker 1: I ruined the planet. That being said, I still don't 119 00:05:19,400 --> 00:05:23,080 Speaker 1: have a case or a screen cover, and if I 120 00:05:23,120 --> 00:05:26,680 Speaker 1: crack my stupid screen, I have no place to complain, 121 00:05:26,720 --> 00:05:28,320 Speaker 1: Like I will not come on the show and complain 122 00:05:28,360 --> 00:05:31,400 Speaker 1: about it. But that being said, I definitely want to. 123 00:05:31,400 --> 00:05:33,360 Speaker 1: I just keep forgetting, but at least your screen get. 124 00:05:33,360 --> 00:05:37,600 Speaker 1: The protective equipment is more it's more solid than than well, 125 00:05:37,839 --> 00:05:39,840 Speaker 1: it's heavier too, which mean you know, the heavier, the 126 00:05:39,839 --> 00:05:43,800 Speaker 1: bigger they are, the harder they fall. That's true. All right, 127 00:05:43,880 --> 00:05:45,960 Speaker 1: let's move on let's get to the Friday flight, the 128 00:05:45,960 --> 00:05:48,599 Speaker 1: sampling of stories we found interesting this week. Let's quickly 129 00:05:48,640 --> 00:05:52,680 Speaker 1: touch on kind of the big headline from yesterday, which 130 00:05:52,839 --> 00:05:55,400 Speaker 1: is the fact that we are we are now technically 131 00:05:55,880 --> 00:05:58,000 Speaker 1: kind of sort of in a recession, right, So we're 132 00:05:58,040 --> 00:06:00,520 Speaker 1: technically not in a recession, right, So like according to 133 00:06:00,920 --> 00:06:03,960 Speaker 1: the National Bureau of Economic Research, they're the folks who 134 00:06:03,960 --> 00:06:06,520 Speaker 1: gets us say that, yes, this is, as they're pushing 135 00:06:06,560 --> 00:06:09,159 Speaker 1: up their glasses, we are now officially in a recession. Yeah, 136 00:06:09,160 --> 00:06:11,039 Speaker 1: they have not come down from on high and spoken 137 00:06:11,160 --> 00:06:14,240 Speaker 1: and and said that that this is the case. But 138 00:06:14,480 --> 00:06:17,400 Speaker 1: the typical definition of recession has been met, right, which 139 00:06:17,440 --> 00:06:20,880 Speaker 1: is two quarters of declining growth um in a row. 140 00:06:21,240 --> 00:06:23,760 Speaker 1: And so I don't know, it feels like the definition 141 00:06:23,760 --> 00:06:25,560 Speaker 1: of recession is kind of up in the air right now. 142 00:06:25,600 --> 00:06:28,479 Speaker 1: But for most folks, we're kind of in one. But 143 00:06:28,720 --> 00:06:30,400 Speaker 1: we are. But that doesn't this is really that we're 144 00:06:30,400 --> 00:06:31,960 Speaker 1: going to be here as well. Yeah, we we we 145 00:06:32,080 --> 00:06:34,039 Speaker 1: figured this is gonna be the case, but that doesn't 146 00:06:34,040 --> 00:06:36,400 Speaker 1: mean that this is. Recessions can look different, right, they 147 00:06:36,400 --> 00:06:38,200 Speaker 1: don't have to all look the same. And right now, 148 00:06:38,520 --> 00:06:40,000 Speaker 1: as we've talked about on the show, there's still a 149 00:06:40,040 --> 00:06:42,360 Speaker 1: lot of positive economic data to point to a lot 150 00:06:42,440 --> 00:06:44,839 Speaker 1: of people are still if they didn't read the headlines, 151 00:06:44,960 --> 00:06:46,880 Speaker 1: they wouldn't realize that we were in a recession. It 152 00:06:46,880 --> 00:06:49,440 Speaker 1: doesn't seem to have impacted really a whole lot of folks. 153 00:06:49,560 --> 00:06:53,720 Speaker 1: That's true. Yeah, everyone notices the higher prices, everyone notices inflation, 154 00:06:53,760 --> 00:06:56,320 Speaker 1: but the recession part of the story maybe a little 155 00:06:56,360 --> 00:06:58,960 Speaker 1: bit less. So a quick p s A for everyone 156 00:06:58,960 --> 00:07:02,080 Speaker 1: out there, don't play the lottery. I'm sure this is 157 00:07:02,120 --> 00:07:04,400 Speaker 1: a conversation you and your friends have already had. Maybe 158 00:07:04,440 --> 00:07:07,240 Speaker 1: you're thinking about going in on a like within a 159 00:07:07,279 --> 00:07:09,640 Speaker 1: pool together where it's like, okay, let's all get together, 160 00:07:09,680 --> 00:07:11,480 Speaker 1: we'll promise to split it, because really, who needs a 161 00:07:11,520 --> 00:07:14,960 Speaker 1: billion dollars? I mean, really, beyond like a few million, 162 00:07:15,120 --> 00:07:17,440 Speaker 1: does life really look all that different for for most folks. 163 00:07:17,440 --> 00:07:19,400 Speaker 1: It's more attempting now than ever before. Though, when you're 164 00:07:19,400 --> 00:07:21,760 Speaker 1: talking about a billion dollars jackpot, that is well, that's 165 00:07:21,760 --> 00:07:23,520 Speaker 1: the thing you can go into in a pretty huge 166 00:07:23,520 --> 00:07:26,800 Speaker 1: pool of folks and everyone could still end up benefiting 167 00:07:26,800 --> 00:07:29,600 Speaker 1: pretty handsomely. But just bottom line, this is a bad 168 00:07:29,600 --> 00:07:33,000 Speaker 1: wealth building strategy because of the odds of winning are 169 00:07:33,200 --> 00:07:37,560 Speaker 1: one in three two million. Again, that jackpot is for 170 00:07:37,600 --> 00:07:40,560 Speaker 1: more than a billion dollars. Now that drawing happens tonight, 171 00:07:40,760 --> 00:07:43,360 Speaker 1: which is exciting for a lot of folks, But there 172 00:07:43,400 --> 00:07:45,920 Speaker 1: are countless other things that you likely should be thinking 173 00:07:45,920 --> 00:07:49,280 Speaker 1: about rather than the infantasmally small chance that you're gonna 174 00:07:49,320 --> 00:07:52,440 Speaker 1: win big. But plus, you know we've talked before how 175 00:07:52,520 --> 00:07:55,239 Speaker 1: winning the lottery, how it's usually bad for your life. 176 00:07:55,440 --> 00:07:58,440 Speaker 1: People die, people o d on drugs, it's bad for 177 00:07:58,480 --> 00:08:00,600 Speaker 1: your relationships. It's something like seventy present a lot of 178 00:08:00,600 --> 00:08:03,280 Speaker 1: winners to clared bankruptcy at the point, and exactly just 179 00:08:03,320 --> 00:08:05,280 Speaker 1: imagine how many how people start to look at you 180 00:08:05,320 --> 00:08:07,640 Speaker 1: if they know you're a billionaire. They they're looking at 181 00:08:07,680 --> 00:08:09,160 Speaker 1: you for money. Now they want to loane and it's 182 00:08:09,160 --> 00:08:11,440 Speaker 1: going to drastically change. It's gonna alter the course of 183 00:08:11,480 --> 00:08:13,000 Speaker 1: your life. And you might think that it's all good, 184 00:08:13,320 --> 00:08:15,680 Speaker 1: but there's a lot of downsides too. Yes, you need 185 00:08:15,720 --> 00:08:18,320 Speaker 1: to think about the negatives. Although I'm not against people 186 00:08:18,360 --> 00:08:19,760 Speaker 1: playing it, Like if you want to do it because 187 00:08:19,800 --> 00:08:22,360 Speaker 1: it's fun, just know that you're doing it. You're paying 188 00:08:22,360 --> 00:08:25,680 Speaker 1: two dollars thinking that, Okay, this is gonna provide me 189 00:08:25,720 --> 00:08:27,720 Speaker 1: a little bit of fun. Like if that means that 190 00:08:27,760 --> 00:08:29,920 Speaker 1: you can be a part of all of the excitement, 191 00:08:30,120 --> 00:08:32,360 Speaker 1: I am okay with that, but don't count like, don't 192 00:08:32,360 --> 00:08:34,320 Speaker 1: think of it as like an investment strategy by by 193 00:08:34,360 --> 00:08:36,840 Speaker 1: any means. And I also like how it can cause 194 00:08:36,840 --> 00:08:38,840 Speaker 1: people to think about and how it could get them 195 00:08:38,880 --> 00:08:40,800 Speaker 1: to ask some bigger questions in their lives. Because if 196 00:08:40,800 --> 00:08:43,000 Speaker 1: you're thinking through, okay, oh, I would do this, and 197 00:08:43,040 --> 00:08:45,040 Speaker 1: I would do this, and I would do this if 198 00:08:45,080 --> 00:08:47,199 Speaker 1: you would change your life in a significant way, I 199 00:08:47,240 --> 00:08:50,480 Speaker 1: think it's worth thinking through, okay, what steps could I 200 00:08:50,480 --> 00:08:54,119 Speaker 1: take now that could allow me to start to replicate 201 00:08:54,160 --> 00:08:57,439 Speaker 1: some of those changes now, right without having won the lottery. 202 00:08:57,840 --> 00:09:00,319 Speaker 1: And if you're lucky enough that you're thinking, I don't 203 00:09:00,320 --> 00:09:02,000 Speaker 1: think there would be a ton of changes I would 204 00:09:02,000 --> 00:09:03,719 Speaker 1: I would make. Well, then I would say that that's 205 00:09:03,720 --> 00:09:06,600 Speaker 1: a great sign that you are you know, you're doing well, 206 00:09:06,600 --> 00:09:08,280 Speaker 1: you're working hard, that that you are on the right 207 00:09:08,280 --> 00:09:10,760 Speaker 1: track with how it is you want to live your life. 208 00:09:10,760 --> 00:09:12,760 Speaker 1: So I do like that it can cause you to 209 00:09:12,920 --> 00:09:15,200 Speaker 1: maybe have some bigger questions about life. It makes me think. 210 00:09:15,240 --> 00:09:18,680 Speaker 1: We did an episode, episode four ten, was entitled what 211 00:09:18,760 --> 00:09:21,120 Speaker 1: if You want the lottery, and I think it's it. 212 00:09:21,200 --> 00:09:22,880 Speaker 1: Maybe this is a good time to go breeth visit 213 00:09:22,920 --> 00:09:24,480 Speaker 1: that one if you didn't get a chance to listen 214 00:09:24,840 --> 00:09:27,880 Speaker 1: because some food or thought right about what what you 215 00:09:27,920 --> 00:09:31,439 Speaker 1: would actually do and how that impacts Well, you're probably 216 00:09:31,440 --> 00:09:33,480 Speaker 1: not gonna win a lottery, so how how should you 217 00:09:33,520 --> 00:09:35,760 Speaker 1: live life? In life of that? Um? But let's move on. 218 00:09:35,960 --> 00:09:37,800 Speaker 1: Let's talk about personal loans here for a second, because 219 00:09:38,360 --> 00:09:42,040 Speaker 1: there was an article in CNBC basically stating that that 220 00:09:42,240 --> 00:09:45,400 Speaker 1: some some people are taking out personal loans in an 221 00:09:45,400 --> 00:09:50,080 Speaker 1: effort to build wealth. Uh. That struck me as ridiculous, 222 00:09:50,840 --> 00:09:53,920 Speaker 1: sounds a little backward surprising. I'm like, who takes out 223 00:09:54,240 --> 00:09:57,839 Speaker 1: like debt that's in the upper single digits or low 224 00:09:57,920 --> 00:10:00,200 Speaker 1: double digits in order to build wealth like that? That's 225 00:10:00,200 --> 00:10:02,920 Speaker 1: not smart. So yeah, inside of that CNBC article, math 226 00:10:02,960 --> 00:10:06,120 Speaker 1: they they talked about a survey by lending Tree which 227 00:10:06,160 --> 00:10:08,520 Speaker 1: said that people are using personal loans in order to 228 00:10:08,520 --> 00:10:10,640 Speaker 1: make improvements to their home. And I guess I guess 229 00:10:10,640 --> 00:10:12,480 Speaker 1: those people are hoping that that's going to increase the 230 00:10:12,559 --> 00:10:15,240 Speaker 1: value of their home, there by increasing their net worth. UM. 231 00:10:15,440 --> 00:10:17,600 Speaker 1: But that seems like some pretty flawed logic to me 232 00:10:17,880 --> 00:10:20,439 Speaker 1: because when you look at the numbers, very few home 233 00:10:20,440 --> 00:10:24,200 Speaker 1: improvements actually pay off. You typically lose money by making 234 00:10:24,280 --> 00:10:26,800 Speaker 1: upgrades to your residents. And we'll actually link to some 235 00:10:26,960 --> 00:10:28,720 Speaker 1: recent research on this. In the show notes. You can 236 00:10:28,720 --> 00:10:30,840 Speaker 1: actually see kind of what the payoff looks like for 237 00:10:30,920 --> 00:10:32,520 Speaker 1: a bunch of different things that you could do to 238 00:10:32,559 --> 00:10:35,400 Speaker 1: your home. The truth is, on top of that, there 239 00:10:35,400 --> 00:10:37,640 Speaker 1: are better products if you're wanting to do work to 240 00:10:37,679 --> 00:10:39,320 Speaker 1: your house. So why would you take out a personal 241 00:10:39,400 --> 00:10:41,360 Speaker 1: loan when you could take out a home equity line 242 00:10:41,360 --> 00:10:43,400 Speaker 1: of credit instead, which is going to carry better terms, 243 00:10:43,440 --> 00:10:47,000 Speaker 1: a better interest rates. Personal loans mostly suck. We want 244 00:10:47,000 --> 00:10:49,520 Speaker 1: people to avoid them. And I was just shocked to 245 00:10:49,559 --> 00:10:51,959 Speaker 1: think that some people think taking out personal loans is 246 00:10:51,960 --> 00:10:54,760 Speaker 1: actually going to lead to more wealth for them in 247 00:10:54,760 --> 00:10:58,240 Speaker 1: the future. It's the exact opposite. Every dollar you decide 248 00:10:58,280 --> 00:11:01,280 Speaker 1: to take from a bank or credit union that is 249 00:11:01,280 --> 00:11:03,680 Speaker 1: class time as a personal loan is going to hamstring 250 00:11:03,720 --> 00:11:06,400 Speaker 1: your ability to build wealth to the future. That's right. Yeah, 251 00:11:06,440 --> 00:11:09,439 Speaker 1: And what's interesting too, they were talking about how borrowers 252 00:11:09,480 --> 00:11:11,720 Speaker 1: who have lower credit score scores, how they don't have 253 00:11:11,760 --> 00:11:15,319 Speaker 1: the ability to take out these personal loans, thereby denying 254 00:11:15,480 --> 00:11:19,680 Speaker 1: their potential ability to build wealth. And I was thinking, yeah, no, 255 00:11:19,880 --> 00:11:21,840 Speaker 1: like like they that's that's great, Like that's how the 256 00:11:21,840 --> 00:11:24,600 Speaker 1: game works. You don't want the lenders do not want 257 00:11:24,640 --> 00:11:28,120 Speaker 1: to lend credit, lend money to folks who have proven 258 00:11:28,440 --> 00:11:30,440 Speaker 1: to not be able to maintain a high credit score, 259 00:11:30,480 --> 00:11:33,280 Speaker 1: whether that's because they are using too much of their credit, 260 00:11:33,280 --> 00:11:35,240 Speaker 1: whether that's because they don't make their payments on time. 261 00:11:35,480 --> 00:11:37,920 Speaker 1: But I feel that this is uh an example of 262 00:11:37,920 --> 00:11:40,840 Speaker 1: the system working well. We do not want folks who 263 00:11:40,880 --> 00:11:43,760 Speaker 1: have not handled money well to then take on more debt, 264 00:11:44,200 --> 00:11:47,160 Speaker 1: specifically personal loans and just because you have a great 265 00:11:47,160 --> 00:11:49,520 Speaker 1: credit score and banks are willing to lend you money 266 00:11:49,720 --> 00:11:51,959 Speaker 1: doesn't mean you should take it. Right, there are certain 267 00:11:51,960 --> 00:11:55,120 Speaker 1: instances where it does make sense for you based on 268 00:11:55,160 --> 00:11:57,960 Speaker 1: your personal financial situation, how carefully you've been with money, 269 00:11:57,960 --> 00:12:00,480 Speaker 1: the fact that you prioritize saving and investing to take 270 00:12:00,480 --> 00:12:02,760 Speaker 1: on debt to help you accomplish other goals such as 271 00:12:02,760 --> 00:12:04,880 Speaker 1: buying a house or maybe doing some renovations to that house. 272 00:12:04,880 --> 00:12:08,240 Speaker 1: I mean, uh, not everybody can save up cash and 273 00:12:08,240 --> 00:12:10,880 Speaker 1: and and buy a house. You know mortgage tree, right, 274 00:12:10,920 --> 00:12:12,720 Speaker 1: But just because it's there doesn't mean you should be 275 00:12:12,760 --> 00:12:15,240 Speaker 1: jumping all over that exactly. And and and for folks who 276 00:12:15,240 --> 00:12:17,280 Speaker 1: have lower credit scores, the goal shouldn't be to get 277 00:12:17,280 --> 00:12:19,520 Speaker 1: your credit score high enough to warry. Now, oh you 278 00:12:19,600 --> 00:12:21,760 Speaker 1: qualify for personal loans, you know, like, there are other 279 00:12:21,760 --> 00:12:23,240 Speaker 1: reasons you want to get your credit score up so 280 00:12:23,280 --> 00:12:25,319 Speaker 1: that when you do have enough, and you have saved 281 00:12:25,360 --> 00:12:27,000 Speaker 1: up enough for a down payment, you can get the 282 00:12:27,040 --> 00:12:29,960 Speaker 1: best mortgage that's available to you, But not to get 283 00:12:30,080 --> 00:12:33,439 Speaker 1: a personal loan. Uh do, Let's let's keep moving. Jason's y. 284 00:12:33,640 --> 00:12:36,040 Speaker 1: He had this this great article in the Journal recently 285 00:12:36,040 --> 00:12:39,319 Speaker 1: about some companies who are offering super high savings rates, 286 00:12:39,760 --> 00:12:43,240 Speaker 1: and he sounds promising. It does u but even as 287 00:12:43,400 --> 00:12:45,320 Speaker 1: rates are going up, they're still pretty crummy from a 288 00:12:45,400 --> 00:12:50,160 Speaker 1: historical perspective, especially given the reality of what's happening with inflation. 289 00:12:50,679 --> 00:12:53,680 Speaker 1: So some folks are making risky your bets in an 290 00:12:53,720 --> 00:12:58,400 Speaker 1: attempt to get higher returns on their cash stable coins. Actually, 291 00:12:58,559 --> 00:13:01,160 Speaker 1: like those are one avenue that some have taken that 292 00:13:01,200 --> 00:13:04,720 Speaker 1: hasn't panned out very well. But some fintech companies that 293 00:13:04,960 --> 00:13:07,320 Speaker 1: like kind of sort of look like banks. They are 294 00:13:07,400 --> 00:13:10,480 Speaker 1: offering between like three and five percent returns right now, 295 00:13:10,880 --> 00:13:14,600 Speaker 1: even higher on basic savings type vehicles, or at least 296 00:13:14,720 --> 00:13:17,520 Speaker 1: they purport to be that. So, for instance, is why 297 00:13:17,600 --> 00:13:20,880 Speaker 1: he highlighted a company called Save and they're promising returns 298 00:13:20,880 --> 00:13:23,560 Speaker 1: in the four to ten percent range, which sounds pretty great. 299 00:13:23,840 --> 00:13:25,920 Speaker 1: Just your liquid cash. That sounds nice, right, I mean 300 00:13:26,000 --> 00:13:29,960 Speaker 1: it'd be great, true, but Save they are investing your money, 301 00:13:29,960 --> 00:13:31,920 Speaker 1: they're not saving it, So of course there was going 302 00:13:31,960 --> 00:13:33,840 Speaker 1: to be a catch. So it's it's sort of like 303 00:13:33,920 --> 00:13:36,640 Speaker 1: it's it's more of a hopeful pinky promise than anything else, 304 00:13:36,640 --> 00:13:38,920 Speaker 1: and we would not recommend for you to do this 305 00:13:39,600 --> 00:13:41,520 Speaker 1: with the liquid cash that you're planning to keep on 306 00:13:41,559 --> 00:13:43,319 Speaker 1: hands or something like an emergency fund. When you look 307 00:13:43,320 --> 00:13:45,120 Speaker 1: at the fine print, it is more like a pinky promise, 308 00:13:45,240 --> 00:13:48,280 Speaker 1: and it looks good displayed in big type on the 309 00:13:48,320 --> 00:13:51,319 Speaker 1: screen based on historical returns over the past ten years. 310 00:13:51,440 --> 00:13:53,400 Speaker 1: But we've only been around for ten months. So and 311 00:13:53,440 --> 00:13:56,320 Speaker 1: when we're talking about savings, right, it's it's a different 312 00:13:56,320 --> 00:14:00,560 Speaker 1: ballgame for for money you need liquid, you can't take 313 00:14:00,559 --> 00:14:03,960 Speaker 1: those risks. And so yeah, a lot of these fintech companies, Matt, 314 00:14:04,000 --> 00:14:06,320 Speaker 1: they are f d i C insured, but you're gonna 315 00:14:06,320 --> 00:14:07,960 Speaker 1: want to make sure that that is definitely the case 316 00:14:08,000 --> 00:14:10,199 Speaker 1: before you even attempt to put your money with one 317 00:14:10,200 --> 00:14:13,040 Speaker 1: of these guys. But so the money you deposit isn't 318 00:14:13,080 --> 00:14:15,920 Speaker 1: necessarily at risk, but there's a real chance that your 319 00:14:16,000 --> 00:14:18,760 Speaker 1: returns on the money, uh it could be something like 320 00:14:19,040 --> 00:14:21,400 Speaker 1: zero percent. And so instead of that, we would suggest 321 00:14:21,440 --> 00:14:23,640 Speaker 1: going with the bank that's tried and true, right like 322 00:14:24,040 --> 00:14:26,560 Speaker 1: ally Discover or see I T. The banks we've been 323 00:14:26,560 --> 00:14:28,600 Speaker 1: talking about for years now. Marcus is another good one, 324 00:14:28,800 --> 00:14:31,520 Speaker 1: and yesterday see I T. We've I feel like this 325 00:14:31,600 --> 00:14:33,840 Speaker 1: is the case every week now, like every two weeks, 326 00:14:33,920 --> 00:14:35,960 Speaker 1: rates are just going up. Bump these things up, which 327 00:14:36,120 --> 00:14:38,040 Speaker 1: which is great because he just is awesome for all 328 00:14:38,040 --> 00:14:40,720 Speaker 1: the savers out there, bump their savings connect account up 329 00:14:40,760 --> 00:14:44,760 Speaker 1: to one nine so pretty close to two. Yeah, not 330 00:14:44,800 --> 00:14:47,760 Speaker 1: as good as those theoretical promised returns right from some 331 00:14:47,800 --> 00:14:49,760 Speaker 1: of those other guys, But it's starting to look like 332 00:14:49,800 --> 00:14:51,840 Speaker 1: it used to look like ten years ago, which is 333 00:14:52,960 --> 00:14:54,560 Speaker 1: it makes me feel good about being a savor and 334 00:14:54,600 --> 00:14:56,800 Speaker 1: having that money in uh in savings. Yeah, it sucks 335 00:14:56,840 --> 00:14:58,320 Speaker 1: just a little bit less to be a saver right now, 336 00:14:58,360 --> 00:15:00,680 Speaker 1: which is good. And and and one other thing that 337 00:15:00,720 --> 00:15:03,360 Speaker 1: we just have been mentioning and will continue to mention 338 00:15:03,440 --> 00:15:06,560 Speaker 1: is I bonds as another place for guaranteed returns because 339 00:15:06,840 --> 00:15:08,640 Speaker 1: here's the thing, though, you have to lock your money 340 00:15:08,640 --> 00:15:11,800 Speaker 1: away for at least a year. But the rates on 341 00:15:11,880 --> 00:15:14,160 Speaker 1: I bons right now, we're almost ten percent, and so 342 00:15:14,280 --> 00:15:15,840 Speaker 1: it's one of those things and they're not going to 343 00:15:15,920 --> 00:15:18,160 Speaker 1: come cratering back down to earth anytime soon. I don't 344 00:15:18,200 --> 00:15:21,240 Speaker 1: think I bonds are still one of the best kind 345 00:15:21,280 --> 00:15:24,360 Speaker 1: of short ish to medium term savings vehicles for lots 346 00:15:24,360 --> 00:15:27,000 Speaker 1: of folks. That's right. Yeah. Another place you should avoid 347 00:15:27,040 --> 00:15:29,760 Speaker 1: storing your money though, is with the biggest banks because 348 00:15:29,800 --> 00:15:32,720 Speaker 1: they pay you almost nothing, which is super sucky. But 349 00:15:32,800 --> 00:15:34,880 Speaker 1: that's not your only problem that you'll encounter with them, 350 00:15:34,880 --> 00:15:37,960 Speaker 1: because overdraft fees are out of this world on many 351 00:15:38,000 --> 00:15:41,400 Speaker 1: of those checking accounts. Back in twenty nineteen, banks, all 352 00:15:41,400 --> 00:15:44,360 Speaker 1: those big banks, they made fifteen billion dollars from folks 353 00:15:44,400 --> 00:15:47,920 Speaker 1: who overdrafted their accounts. And so now Congress is looking 354 00:15:47,960 --> 00:15:49,960 Speaker 1: to do something about it. I mean, like they don't 355 00:15:50,000 --> 00:15:53,000 Speaker 1: actually get things done most of the time. That's probably 356 00:15:53,320 --> 00:15:55,720 Speaker 1: that's probably not likely that things will change. But it's 357 00:15:56,000 --> 00:15:57,600 Speaker 1: like the life cards on my local pool when they're 358 00:15:57,640 --> 00:15:59,200 Speaker 1: on their phone, and I'm like, oh man, what a 359 00:15:59,320 --> 00:16:01,640 Speaker 1: what a coushout. But that's what Congress seems like because 360 00:16:02,080 --> 00:16:05,000 Speaker 1: you don't really actually do much legislating through more glad 361 00:16:05,000 --> 00:16:08,760 Speaker 1: handing and cable news appearances. It's true, uh that that 362 00:16:08,800 --> 00:16:12,800 Speaker 1: being said, the Overdraft Protection Act could potentially step into 363 00:16:12,920 --> 00:16:15,880 Speaker 1: lesson or eliminate the ability for banks to to charge 364 00:16:16,000 --> 00:16:19,200 Speaker 1: ridiculous overdraft fees, which by the way, mostly hurts the 365 00:16:19,200 --> 00:16:22,720 Speaker 1: most financially vulnerable of folks. But this is an instance 366 00:16:22,720 --> 00:16:24,680 Speaker 1: of where I think we don't need to necessarily wait 367 00:16:24,720 --> 00:16:28,120 Speaker 1: around and like sit on our hands and hoping that 368 00:16:28,160 --> 00:16:29,560 Speaker 1: the banks are going to do something or hope that 369 00:16:29,600 --> 00:16:31,840 Speaker 1: Congress is actually going to act, because that's what I meant. 370 00:16:31,880 --> 00:16:34,560 Speaker 1: I'm sorry. Yeah, if you're not for that, like you, 371 00:16:34,560 --> 00:16:36,400 Speaker 1: you know, you might be sitting around a long time exactly, 372 00:16:36,520 --> 00:16:39,640 Speaker 1: might grow a nice gray beard before that comes to past. Right. Well, 373 00:16:39,640 --> 00:16:41,600 Speaker 1: And the thing is, too, it's just not necessary because like, 374 00:16:41,640 --> 00:16:43,880 Speaker 1: this is not something that's overly complicated. I think there 375 00:16:43,880 --> 00:16:47,000 Speaker 1: are some industries in some sectors where maybe some government 376 00:16:47,040 --> 00:16:50,760 Speaker 1: intervention is necessary because it's it's just a really complicated process. Right, 377 00:16:50,760 --> 00:16:53,280 Speaker 1: But we're talking about savings and checking accounts like these 378 00:16:53,280 --> 00:16:55,760 Speaker 1: are accounts that you can open and set up for 379 00:16:55,800 --> 00:16:58,680 Speaker 1: your kids, and even they understand how they work. It's 380 00:16:58,720 --> 00:17:01,000 Speaker 1: not overly complicated. It's not like this makes me think 381 00:17:01,040 --> 00:17:05,760 Speaker 1: of the semiconductor bill that just passed. Cool, that's probably 382 00:17:05,800 --> 00:17:08,680 Speaker 1: necessary because that's in the best interest of our entire country, right, like, 383 00:17:08,680 --> 00:17:11,720 Speaker 1: like the future of our country is at stake here, 384 00:17:12,040 --> 00:17:17,000 Speaker 1: and like of semiconductors are made in Taiwan, and we 385 00:17:17,119 --> 00:17:21,240 Speaker 1: like Taiwan, but China they don't like Taiwan in China. Anyway, 386 00:17:21,320 --> 00:17:24,000 Speaker 1: we're getting political here or whatever. But all this being said, 387 00:17:24,000 --> 00:17:25,920 Speaker 1: this is something that you can easily do, and hopefully 388 00:17:25,920 --> 00:17:28,760 Speaker 1: an act does pass. But in the meantime, make sure 389 00:17:28,760 --> 00:17:31,040 Speaker 1: that you are banking with the banks who aren't trying 390 00:17:31,119 --> 00:17:34,040 Speaker 1: to financially ruin you. That's exactly right, because it's it's 391 00:17:34,040 --> 00:17:38,199 Speaker 1: other banks have actually already disallowed over draft fees. They 392 00:17:38,200 --> 00:17:40,439 Speaker 1: don't charge their customers any over draft fees, and so 393 00:17:40,640 --> 00:17:44,000 Speaker 1: the market is actually providing some solutions to this. Over 394 00:17:44,080 --> 00:17:48,200 Speaker 1: draftees are obviously too high, they're crazy costly. They screw 395 00:17:48,240 --> 00:17:50,360 Speaker 1: over a lot of people, especially the most financially vulnerable. 396 00:17:50,359 --> 00:17:52,040 Speaker 1: I would like to see them done away with. But 397 00:17:52,080 --> 00:17:54,040 Speaker 1: the great thing is some great banks have already done that. 398 00:17:54,080 --> 00:17:56,840 Speaker 1: So there's City, Ally and Capital One. Are are three 399 00:17:56,840 --> 00:18:00,440 Speaker 1: banks that have eliminated over draftees for their customers. And 400 00:18:00,600 --> 00:18:03,440 Speaker 1: it's worth mentioning that. So if you're if you want 401 00:18:03,440 --> 00:18:05,840 Speaker 1: to support a business that is that is doing the 402 00:18:05,920 --> 00:18:09,080 Speaker 1: right thing by their customers without being told to by 403 00:18:09,640 --> 00:18:13,159 Speaker 1: the federal government, then we'd say, do business with the 404 00:18:13,160 --> 00:18:15,359 Speaker 1: bank that doesn't suck. And those are a few of 405 00:18:15,359 --> 00:18:17,359 Speaker 1: them that don't suck. That's right, all right, Joel, we 406 00:18:17,440 --> 00:18:20,120 Speaker 1: have several other stories we're gonna get to today. We're 407 00:18:20,119 --> 00:18:23,320 Speaker 1: gonna talk about student loans. We're gonna talk about groceries, 408 00:18:23,320 --> 00:18:26,720 Speaker 1: we're gonna talk about fake reviews and more. All right, 409 00:18:26,760 --> 00:18:37,920 Speaker 1: after this, all right, Matt, we're back. Let's keep going 410 00:18:37,960 --> 00:18:40,480 Speaker 1: with the Friday Flight. And of course we always gotta 411 00:18:40,480 --> 00:18:43,119 Speaker 1: get to our ludicrous headline of the week. Indeed, and 412 00:18:43,160 --> 00:18:45,040 Speaker 1: this one comes from the New York Mark on the 413 00:18:45,040 --> 00:18:48,520 Speaker 1: Friday Flight. It's a mainstay, and our friend Ron Lieber 414 00:18:48,600 --> 00:18:51,119 Speaker 1: over the New York Times wrote this article. It was 415 00:18:51,200 --> 00:18:54,640 Speaker 1: called the case of the five thousand dollar Springsteen tickets. 416 00:18:55,080 --> 00:18:57,720 Speaker 1: And so let's talk about algorithms for a second, because 417 00:18:57,840 --> 00:19:01,240 Speaker 1: they're having this rapidly increasing the impact on what we 418 00:19:01,320 --> 00:19:03,680 Speaker 1: pay for lots of different items that we purchase and 419 00:19:03,840 --> 00:19:06,840 Speaker 1: events we choose to go to write prices are as 420 00:19:06,880 --> 00:19:09,840 Speaker 1: a terminus kind of came up with their their squishier 421 00:19:10,119 --> 00:19:13,680 Speaker 1: than ever before, right, and they they vary a whole 422 00:19:13,680 --> 00:19:15,840 Speaker 1: lot more than they ever used to, and so much 423 00:19:15,880 --> 00:19:19,120 Speaker 1: of that is due to the algorithms that determine what 424 00:19:19,160 --> 00:19:21,920 Speaker 1: we pay and when we pay it. And so these 425 00:19:22,000 --> 00:19:25,679 Speaker 1: Springsteen tickets, apparently some fans were trying to buy tickets 426 00:19:25,720 --> 00:19:30,160 Speaker 1: for shows, and they were being shown prices of north 427 00:19:30,200 --> 00:19:34,080 Speaker 1: of five thousand dollars right for tickets, and obviously they 428 00:19:34,720 --> 00:19:37,119 Speaker 1: they didn't really like that. They weren't sure if it 429 00:19:37,200 --> 00:19:40,040 Speaker 1: was worth that much to go see the Boston person. 430 00:19:40,320 --> 00:19:42,520 Speaker 1: And and it's not that these tickets were being sold 431 00:19:42,560 --> 00:19:45,920 Speaker 1: by scalpers, right, it was. It was truly an algorithmic 432 00:19:46,040 --> 00:19:49,119 Speaker 1: decision saying that mid five figures was a fair price 433 00:19:49,440 --> 00:19:52,040 Speaker 1: for this show. And I kind of have a few 434 00:19:52,040 --> 00:19:55,800 Speaker 1: different thoughts about this. I think one, I'd rather see 435 00:19:55,800 --> 00:19:58,840 Speaker 1: money go to the artist than to a scalper, right, right, Um, 436 00:19:58,920 --> 00:20:02,760 Speaker 1: so I'd rather see fewer people in the middle taking 437 00:20:02,760 --> 00:20:05,040 Speaker 1: a cut. It doesn't make sense right, right, So let's explain. Like, 438 00:20:05,040 --> 00:20:07,359 Speaker 1: the way it works right now is if you set 439 00:20:07,400 --> 00:20:09,960 Speaker 1: a static price and you happen to shoot too low 440 00:20:10,320 --> 00:20:12,320 Speaker 1: and there's an overwhelming demand for it, all the scalpers 441 00:20:12,320 --> 00:20:14,000 Speaker 1: they're gonna swoop in. They're gonna buy up all the tickets, 442 00:20:14,000 --> 00:20:16,080 Speaker 1: they've got the software, they got the box. Then they're 443 00:20:16,080 --> 00:20:19,000 Speaker 1: gonna jack up those prices and they're making all the profits, right, 444 00:20:19,080 --> 00:20:22,040 Speaker 1: effectively screwing over the artist. So like everybody gets hurt 445 00:20:22,040 --> 00:20:24,680 Speaker 1: except for these like few individuals who get loaded because 446 00:20:24,720 --> 00:20:27,080 Speaker 1: they've got the superior technology. The the challenges though, if 447 00:20:27,119 --> 00:20:29,199 Speaker 1: you set your prices too high, then the artist is 448 00:20:29,359 --> 00:20:32,119 Speaker 1: you know, you run the risk potentially of having empty seats. 449 00:20:32,560 --> 00:20:34,840 Speaker 1: You know, within an arena, you're not performing to a 450 00:20:34,880 --> 00:20:37,920 Speaker 1: sold out show, and that's kind of a bummer as well. Um, 451 00:20:37,960 --> 00:20:41,159 Speaker 1: and obviously your prices might be too high for a 452 00:20:41,160 --> 00:20:43,000 Speaker 1: lot of folks. And so it's just difficult to know 453 00:20:43,160 --> 00:20:45,960 Speaker 1: where does set the prices because how do you predict 454 00:20:46,040 --> 00:20:47,920 Speaker 1: the popularity, how do you predict the demand for a 455 00:20:47,920 --> 00:20:49,879 Speaker 1: specific show. There are so many factors. That's kind of 456 00:20:49,880 --> 00:20:51,720 Speaker 1: where they go into it. Dynamic pricing comes in and 457 00:20:51,760 --> 00:20:53,159 Speaker 1: it makes a lot of sense. Yeah, we see it 458 00:20:53,160 --> 00:20:56,000 Speaker 1: with air fare, we see it with entertainment, other areas 459 00:20:56,000 --> 00:20:58,679 Speaker 1: of entertainment, with with even like sporting event tickets and 460 00:20:58,680 --> 00:21:01,080 Speaker 1: stuff like that. And and so we're seeing more of 461 00:21:01,119 --> 00:21:03,720 Speaker 1: a reliance on dynamic pricing, which I think does make 462 00:21:03,760 --> 00:21:06,199 Speaker 1: sense in a lot of ways. Prices on Amazon right 463 00:21:06,320 --> 00:21:08,800 Speaker 1: change dozens of times in a single day, and so yeah, 464 00:21:08,880 --> 00:21:11,439 Speaker 1: these these swift changes, though, can make it harder to 465 00:21:11,600 --> 00:21:14,520 Speaker 1: be to be a smart shopper. Um but it's something 466 00:21:14,560 --> 00:21:16,119 Speaker 1: to be aware of. And we also just need to 467 00:21:16,160 --> 00:21:18,359 Speaker 1: be more price sensitive. Right. If I'm looking to go 468 00:21:18,480 --> 00:21:20,359 Speaker 1: see an artist and make a decision, and I think 469 00:21:20,400 --> 00:21:22,120 Speaker 1: it's gonna be a couple hundred dollars to go see 470 00:21:22,119 --> 00:21:23,800 Speaker 1: one of my favorite artists, but now now it turns 471 00:21:23,800 --> 00:21:26,080 Speaker 1: out it's gonna be a couple of thousand dollars, I'm 472 00:21:26,359 --> 00:21:28,880 Speaker 1: going to leave that website as quickly as possible. And um, 473 00:21:29,080 --> 00:21:32,439 Speaker 1: so unless it's your absolute favorite band and this is 474 00:21:32,480 --> 00:21:34,560 Speaker 1: the last show they might ever do, like you know, 475 00:21:34,600 --> 00:21:36,640 Speaker 1: there are a number of factors. I mean, even Ron Lieber, 476 00:21:36,680 --> 00:21:39,080 Speaker 1: he was just like, it's it's worth it. Yeah, maybe 477 00:21:39,080 --> 00:21:41,160 Speaker 1: not five thousand dollars. But he's just like, I'm willing 478 00:21:41,200 --> 00:21:43,120 Speaker 1: to pay hundreds and hundreds of dollars to go see 479 00:21:43,160 --> 00:21:46,240 Speaker 1: the Boss because he's a legend. Yeah, exactly. And there 480 00:21:46,240 --> 00:21:48,119 Speaker 1: are maybe a couple of people I would pay a 481 00:21:48,119 --> 00:21:50,600 Speaker 1: couple hundred dollars to go see. I don't know that 482 00:21:50,640 --> 00:21:52,880 Speaker 1: there's anybody I would pay thousands of dollars to see, 483 00:21:52,920 --> 00:21:56,200 Speaker 1: but right now, Yeah, I think what this comes down to, though, 484 00:21:56,800 --> 00:21:59,479 Speaker 1: is the fact that this is being run by Ticketmaster, right, 485 00:21:59,520 --> 00:22:02,639 Speaker 1: and and they have like a basically a stranglehold, a monopoly, 486 00:22:03,119 --> 00:22:06,679 Speaker 1: and they service something like over s all venues, and 487 00:22:06,720 --> 00:22:09,520 Speaker 1: so in my mind, the algorithm is good or it's 488 00:22:09,520 --> 00:22:12,320 Speaker 1: good enough, but maybe a lot of pricing algorithm that 489 00:22:12,440 --> 00:22:14,639 Speaker 1: just yeah, generally speaking, that dynamic pricing. But how do 490 00:22:14,680 --> 00:22:17,439 Speaker 1: you make these specific algorithm better? And you do that 491 00:22:17,480 --> 00:22:21,840 Speaker 1: by providing more competition to Ticketmaster, right, and so like 492 00:22:21,880 --> 00:22:24,680 Speaker 1: they don't have this more direct sales by artists out 493 00:22:24,880 --> 00:22:27,880 Speaker 1: Ticketmaster that middleman too. Um. And I think there's there's 494 00:22:27,960 --> 00:22:29,320 Speaker 1: more and more We're seeing more and more of that 495 00:22:29,400 --> 00:22:31,800 Speaker 1: happening as well, and I hope we see a lot 496 00:22:31,840 --> 00:22:34,080 Speaker 1: more of that because I would like to see Ticketmaster 497 00:22:34,160 --> 00:22:35,800 Speaker 1: go down of flames. We're not gonna lie. But what 498 00:22:35,880 --> 00:22:38,200 Speaker 1: that means though, are some other folks stepping and providing 499 00:22:38,440 --> 00:22:41,120 Speaker 1: some sort of service to these artists that allow them 500 00:22:41,119 --> 00:22:43,800 Speaker 1: to because even still, it's difficult for an artist to 501 00:22:43,800 --> 00:22:46,159 Speaker 1: build that right, to kind of build that network, to 502 00:22:46,320 --> 00:22:49,680 Speaker 1: build that kind of direct communication with their fans. That's 503 00:22:49,680 --> 00:22:52,840 Speaker 1: why they are dependent on folks like Ticketmaster. But generally speaking, 504 00:22:52,880 --> 00:22:56,280 Speaker 1: this is an industry that is overdue for some competitions 505 00:22:56,280 --> 00:23:00,080 Speaker 1: should come in and unseat Ticketmaster who's been sitting on 506 00:23:00,119 --> 00:23:03,040 Speaker 1: the throne for a long time. Actually, NPR they just 507 00:23:03,080 --> 00:23:05,639 Speaker 1: published this piece about sort of like the like these 508 00:23:05,640 --> 00:23:08,960 Speaker 1: funky algorithms this week as well, because depending on how 509 00:23:08,960 --> 00:23:11,400 Speaker 1: long it takes you to finish a transaction when you're 510 00:23:11,560 --> 00:23:14,080 Speaker 1: online shopping, after you put something in your cart, the 511 00:23:14,160 --> 00:23:17,359 Speaker 1: price might get bumped up in the meantime. Uh. And 512 00:23:17,359 --> 00:23:19,240 Speaker 1: we share this because we want you to be aware 513 00:23:19,240 --> 00:23:21,479 Speaker 1: of this trend, you know, some of the different sneaky 514 00:23:21,480 --> 00:23:24,280 Speaker 1: ways that it can cost you more sometimes without even 515 00:23:24,359 --> 00:23:26,959 Speaker 1: knowing it. Uh. And So bottom line, I feel like 516 00:23:27,040 --> 00:23:29,520 Speaker 1: this dynamic pricing model it's still kind of the best 517 00:23:29,560 --> 00:23:32,040 Speaker 1: alternative for what's out there. But we just need to 518 00:23:32,040 --> 00:23:34,040 Speaker 1: be aware that this is the direction that it seems 519 00:23:34,080 --> 00:23:37,159 Speaker 1: like things are going. Uh. And while we're talking about shopping, 520 00:23:37,200 --> 00:23:40,879 Speaker 1: let's talk about fake reviews. That's another mounting problem in 521 00:23:40,920 --> 00:23:43,560 Speaker 1: the world of e commerce. A recent study found that 522 00:23:43,600 --> 00:23:46,480 Speaker 1: folks are more likely to buy inferior products based on 523 00:23:46,840 --> 00:23:50,640 Speaker 1: glowing but fake reviews about that product. That makes sense. 524 00:23:50,680 --> 00:23:52,120 Speaker 1: A lot of us are just looking at the star 525 00:23:52,320 --> 00:23:54,399 Speaker 1: ratings on a product and we're like, Okay, it seems 526 00:23:54,400 --> 00:23:56,000 Speaker 1: pretty good, and let's click, you know, click to buy, 527 00:23:56,040 --> 00:23:57,920 Speaker 1: and we might read maybe one or two of those 528 00:23:58,000 --> 00:24:00,280 Speaker 1: actual reviews, but there are thousands, and so we certainly 529 00:24:00,280 --> 00:24:02,040 Speaker 1: don't wait through all of them. But it turns out 530 00:24:02,080 --> 00:24:04,880 Speaker 1: a lot of those are or at least on some products, 531 00:24:05,000 --> 00:24:08,400 Speaker 1: are completely fake. They're ramping up the star level even 532 00:24:08,400 --> 00:24:10,600 Speaker 1: though the product is not a great one. Yeah, and 533 00:24:10,680 --> 00:24:12,920 Speaker 1: these are products that we have not even hardly laid 534 00:24:12,920 --> 00:24:14,919 Speaker 1: eyes on. Obviously, we're not seeing them in person, so 535 00:24:14,920 --> 00:24:17,000 Speaker 1: we're not quite sure what we're gonna be getting. May 536 00:24:17,000 --> 00:24:19,479 Speaker 1: not even know anything about that specific brand. Because there 537 00:24:19,480 --> 00:24:22,639 Speaker 1: are like so many of these new thingled companies selling 538 00:24:22,640 --> 00:24:25,000 Speaker 1: all sorts of stuff online, it can be difficult to 539 00:24:25,040 --> 00:24:27,920 Speaker 1: manage and to interpret all the data that is out there. 540 00:24:27,960 --> 00:24:29,919 Speaker 1: So bottom line, like it kind of comes down to 541 00:24:30,000 --> 00:24:32,520 Speaker 1: you as an individual, like you said, reading the reviews 542 00:24:32,800 --> 00:24:37,280 Speaker 1: looking for items that might only have only five stars, 543 00:24:37,280 --> 00:24:39,959 Speaker 1: like that's a red flag basically, right. Um, there are 544 00:24:40,000 --> 00:24:41,640 Speaker 1: ways that you can read through the reviews and tell 545 00:24:42,000 --> 00:24:44,639 Speaker 1: was this created by a bot or is this a 546 00:24:44,680 --> 00:24:48,960 Speaker 1: real person who uploaded a legitimate photo of their product? Um? 547 00:24:49,000 --> 00:24:52,560 Speaker 1: And honestly, for me, when I see two three four 548 00:24:52,600 --> 00:24:54,919 Speaker 1: stars on a product, for me, that gives me a 549 00:24:54,920 --> 00:24:57,440 Speaker 1: little bit of reassurance that, oh, this is a legit product. 550 00:24:57,600 --> 00:24:59,480 Speaker 1: There's always gonna be people people out there who are 551 00:24:59,520 --> 00:25:01,639 Speaker 1: not happy that. A lot of times they put the 552 00:25:01,640 --> 00:25:04,080 Speaker 1: thing together wrong and they're like, oh the thing broke 553 00:25:04,119 --> 00:25:06,000 Speaker 1: after like three seconds, and it's like, well, I think 554 00:25:06,040 --> 00:25:08,280 Speaker 1: you broke it yourself. You can tell that when you 555 00:25:08,280 --> 00:25:11,639 Speaker 1: couldn read read some of the actual individual reviews, whereas 556 00:25:11,680 --> 00:25:13,560 Speaker 1: if you're just leaking at the star level, sometimes you 557 00:25:13,560 --> 00:25:16,399 Speaker 1: can be misled. And I think, what fake spot is 558 00:25:16,440 --> 00:25:20,120 Speaker 1: one of those cool sites and Chrome browser plug ins, 559 00:25:20,119 --> 00:25:22,760 Speaker 1: it's worth they've got it on Safari's are they okay? Great? 560 00:25:23,000 --> 00:25:25,240 Speaker 1: So so yeah, then that way, every time you go 561 00:25:25,480 --> 00:25:28,480 Speaker 1: to Amazon or some of these other websites. They'll give 562 00:25:28,480 --> 00:25:30,439 Speaker 1: you a rating like, hey, guess what the reviews on 563 00:25:30,440 --> 00:25:32,800 Speaker 1: this or a C or there a be, and you 564 00:25:32,800 --> 00:25:34,760 Speaker 1: you can kind of know, like, all right, I have 565 00:25:34,800 --> 00:25:37,399 Speaker 1: to try a little more more carefully before buying this 566 00:25:37,480 --> 00:25:39,800 Speaker 1: product because it looks like there are more fake reviews 567 00:25:39,840 --> 00:25:41,680 Speaker 1: on it. Yeah, and you know, fake spots good because 568 00:25:41,680 --> 00:25:46,480 Speaker 1: they actually they got good star ratings app stores. I 569 00:25:46,520 --> 00:25:49,679 Speaker 1: love It's so good. Who is policing the police, right exactly? 570 00:25:49,680 --> 00:25:51,800 Speaker 1: That's a good question. All right, Let's talk about student 571 00:25:51,880 --> 00:25:54,399 Speaker 1: loans for a second, because we're still in the middle 572 00:25:54,480 --> 00:25:57,720 Speaker 1: of a student loan payment pause that's supposed to resume 573 00:25:58,000 --> 00:26:01,919 Speaker 1: UM September one, and the question is that going to happen? 574 00:26:02,280 --> 00:26:05,879 Speaker 1: And the answer is probably not. Will any amount of 575 00:26:05,880 --> 00:26:08,320 Speaker 1: forgiveness come to fruition? That's another question on people's minds 576 00:26:08,320 --> 00:26:10,720 Speaker 1: when it comes to student loans. UM. That's a political 577 00:26:10,760 --> 00:26:13,600 Speaker 1: football that is is still kind of being batted around, 578 00:26:13,680 --> 00:26:15,360 Speaker 1: and we're gonna do our best to not get political 579 00:26:15,440 --> 00:26:18,440 Speaker 1: here and talk about how forgiving a bunch of student 580 00:26:18,440 --> 00:26:21,080 Speaker 1: loans might even lead to more inflation. But that's not 581 00:26:21,119 --> 00:26:24,159 Speaker 1: something we're gonna get into. We mentioned that before then. 582 00:26:24,200 --> 00:26:27,159 Speaker 1: It's it's not our favorite policy idea, but the political 583 00:26:27,240 --> 00:26:28,920 Speaker 1: writing was kind of on the wall that there might 584 00:26:29,000 --> 00:26:32,440 Speaker 1: be another forbearance extension. That's something we were kind of 585 00:26:32,680 --> 00:26:34,920 Speaker 1: thinking might come to pass. It's it's looking like it, right, 586 00:26:35,160 --> 00:26:37,400 Speaker 1: and and so now there's more and more rum link 587 00:26:37,440 --> 00:26:41,040 Speaker 1: pointing in that direction. That comes Uptember one, people who 588 00:26:41,200 --> 00:26:43,160 Speaker 1: have student loans who have not been paying on them 589 00:26:43,440 --> 00:26:45,520 Speaker 1: for the past couple of years will be able to 590 00:26:45,560 --> 00:26:48,760 Speaker 1: continue to not pay on their student loans. And yeah, well, 591 00:26:49,040 --> 00:26:51,760 Speaker 1: we'll certainly revisit this topic when the details firm up. 592 00:26:52,160 --> 00:26:54,240 Speaker 1: We still want you to be financially prepaired for those 593 00:26:54,240 --> 00:26:57,800 Speaker 1: payments to resume come September, even if it's unlikely to happen, 594 00:26:57,880 --> 00:27:00,240 Speaker 1: that's right. Yeah, And honestly, kind of going back to 595 00:27:00,240 --> 00:27:03,439 Speaker 1: what we're saying about that Overdraft Protection Act, this is 596 00:27:03,440 --> 00:27:08,880 Speaker 1: another instance, I feel where there's been some congressional ineptitude. 597 00:27:09,640 --> 00:27:12,200 Speaker 1: Let's just say like this, because it shouldn't come down 598 00:27:12,240 --> 00:27:14,760 Speaker 1: to the President deciding whether or not there's going to 599 00:27:14,880 --> 00:27:17,159 Speaker 1: be a forbearance extension, whether or not there's going to 600 00:27:17,240 --> 00:27:18,800 Speaker 1: be student loans that are gonna be forgiven. This is 601 00:27:18,840 --> 00:27:20,960 Speaker 1: Congress's job, and so regardless of what side of the 602 00:27:21,000 --> 00:27:23,040 Speaker 1: aisle you're on, I feel that this is it's just 603 00:27:23,080 --> 00:27:24,840 Speaker 1: a little discouraging. It's kind of annoying that this is 604 00:27:24,880 --> 00:27:27,280 Speaker 1: something that it feels like somebody who's just continues to 605 00:27:27,280 --> 00:27:29,120 Speaker 1: get the snooze button and it's just like, dude, either 606 00:27:29,160 --> 00:27:31,440 Speaker 1: just turn the a long o'clock off or get up 607 00:27:31,480 --> 00:27:33,600 Speaker 1: like like just but just aside and the fact that 608 00:27:33,640 --> 00:27:36,640 Speaker 1: there are borrowers out there who sure they've benefited from 609 00:27:36,640 --> 00:27:38,879 Speaker 1: not having to make payments over the past two year, 610 00:27:38,920 --> 00:27:40,840 Speaker 1: you know, two and a half years now, but still 611 00:27:40,920 --> 00:27:42,919 Speaker 1: the fact that we don't know what is going to 612 00:27:43,000 --> 00:27:45,720 Speaker 1: happen is kind of mind boggling, and it's something that 613 00:27:45,800 --> 00:27:50,920 Speaker 1: I wish our leaders could figure out. The congressional gridlock, 614 00:27:51,040 --> 00:27:53,360 Speaker 1: the inability to really kind of work together on anything, 615 00:27:53,960 --> 00:27:56,520 Speaker 1: is bad for the country as a whole, right, And 616 00:27:56,680 --> 00:28:00,160 Speaker 1: doesn't it still confidence in us as us as people? Um, Okay, 617 00:28:00,200 --> 00:28:02,320 Speaker 1: let's let's move on. Let's talk about ways you can 618 00:28:02,359 --> 00:28:05,680 Speaker 1: save on rent, and you could do that by potentially 619 00:28:05,720 --> 00:28:09,880 Speaker 1: getting an older roommate. This is your geriatric roommates. Uh. 620 00:28:10,119 --> 00:28:11,960 Speaker 1: Part of the headline that you mentioned at the beginning 621 00:28:12,040 --> 00:28:14,040 Speaker 1: Joel Uh. And what we're talking about here is a 622 00:28:14,119 --> 00:28:17,200 Speaker 1: much older roommate. Because Business Insider they just wrote about 623 00:28:17,200 --> 00:28:21,040 Speaker 1: how multigenerational living is on the rise, uh, and how 624 00:28:21,119 --> 00:28:23,680 Speaker 1: could save you money. Because some colleges have been doing this, 625 00:28:23,840 --> 00:28:25,600 Speaker 1: They've they've got these programs in place in order to 626 00:28:25,680 --> 00:28:28,199 Speaker 1: help some of their students live rent free given the 627 00:28:28,359 --> 00:28:32,080 Speaker 1: changing demographics in our society as are as well the world, 628 00:28:32,119 --> 00:28:34,840 Speaker 1: but America as well, like as we have an older 629 00:28:34,840 --> 00:28:38,400 Speaker 1: and older population. I love this idea. And it's like, 630 00:28:38,440 --> 00:28:40,560 Speaker 1: it's a good thing for the students to live in 631 00:28:40,800 --> 00:28:42,400 Speaker 1: a place where they can pay less rent or live 632 00:28:42,440 --> 00:28:44,720 Speaker 1: for free. And it's also a good thing for these 633 00:28:44,720 --> 00:28:47,960 Speaker 1: older people to have those younger folks um in their 634 00:28:47,960 --> 00:28:50,280 Speaker 1: live style exactly. Yeah, And it seems like the younger 635 00:28:50,280 --> 00:28:52,960 Speaker 1: generation uh, seems to be more willing to consider this 636 00:28:53,040 --> 00:28:56,040 Speaker 1: as a way to cut costs. Specifically, there's a website 637 00:28:56,160 --> 00:28:59,080 Speaker 1: nest eily they're trying to make this easier to accomplish, 638 00:28:59,440 --> 00:29:01,760 Speaker 1: although it's only working in a few cities right now, 639 00:29:02,040 --> 00:29:05,160 Speaker 1: mainly Boston seems to be the largest area where they 640 00:29:05,200 --> 00:29:07,520 Speaker 1: are doing, you know, making a lot of in roads. 641 00:29:07,720 --> 00:29:10,080 Speaker 1: But check it out if you're interested. We're all about 642 00:29:10,120 --> 00:29:12,560 Speaker 1: outside of the box ways to cut back and save 643 00:29:12,640 --> 00:29:14,400 Speaker 1: and and like you said, there's like a richness to 644 00:29:14,480 --> 00:29:17,360 Speaker 1: life that you gain by being in contact with folks 645 00:29:17,360 --> 00:29:19,240 Speaker 1: who are who are older. Like we've got some neighbors 646 00:29:19,280 --> 00:29:22,240 Speaker 1: who are in their seventies and eighties, and you can't 647 00:29:22,520 --> 00:29:24,680 Speaker 1: there's there's not like a dollar amount, you can't quantify 648 00:29:24,920 --> 00:29:26,960 Speaker 1: the benefit that you receive from having a connection like 649 00:29:27,000 --> 00:29:29,880 Speaker 1: that to an older generation. And like you said, it's 650 00:29:29,960 --> 00:29:31,600 Speaker 1: I think it's great for for older folks as well. 651 00:29:31,600 --> 00:29:34,800 Speaker 1: There's a girl in the story and she's living with 652 00:29:34,840 --> 00:29:36,880 Speaker 1: a lady who's closer to the age of her grandma, 653 00:29:37,360 --> 00:29:39,840 Speaker 1: and she's able to stay in her house like this 654 00:29:39,880 --> 00:29:42,280 Speaker 1: old family home because now she's got somebody to help 655 00:29:42,360 --> 00:29:44,880 Speaker 1: her pay the taxes, she helps out with chores. It's 656 00:29:44,920 --> 00:29:47,040 Speaker 1: just it's just a win win situation. And seems like 657 00:29:47,480 --> 00:29:49,600 Speaker 1: figuring out how to use emails, yeah you know, I 658 00:29:49,600 --> 00:29:51,959 Speaker 1: mean that's like a legit. Yeah, yeah, yeah, it's just 659 00:29:52,000 --> 00:29:54,520 Speaker 1: a great solution for for everyone involved. I love seeing that. 660 00:29:54,600 --> 00:29:57,040 Speaker 1: I got to be because my next fur neighbor, she's 661 00:29:57,080 --> 00:30:00,680 Speaker 1: oh snap, and she she lives alone because as her 662 00:30:01,000 --> 00:30:03,120 Speaker 1: son lives across the street from me, So it is 663 00:30:03,120 --> 00:30:05,800 Speaker 1: that multigenerational street living at least um, at least where 664 00:30:05,800 --> 00:30:08,320 Speaker 1: I'm at. Somebody shouldn't move in with her. Yeah, I'm 665 00:30:08,320 --> 00:30:10,720 Speaker 1: sure she's got extra rooms she's not using. I'm sure 666 00:30:10,760 --> 00:30:12,800 Speaker 1: she does. But it's Yeah, it's cool to see, and 667 00:30:12,800 --> 00:30:15,320 Speaker 1: it's it's nice to kind of live in a place 668 00:30:15,400 --> 00:30:18,480 Speaker 1: where you are. My neighbors are at different ages and 669 00:30:18,520 --> 00:30:21,040 Speaker 1: stages of their lives. I think that is a good thing. Well, 670 00:30:21,080 --> 00:30:24,320 Speaker 1: let's talk about groceries here for a second, Matt, And 671 00:30:24,440 --> 00:30:27,760 Speaker 1: because brand loyalty has it seems to be waning. As 672 00:30:27,840 --> 00:30:30,160 Speaker 1: prices are rising right as inflation at the grocery store 673 00:30:30,240 --> 00:30:33,680 Speaker 1: is somewhere in the twelve plus percent range, people are 674 00:30:33,720 --> 00:30:36,960 Speaker 1: starting to trade down for for store brands. There's another 675 00:30:37,040 --> 00:30:39,840 Speaker 1: article that said that people are downgrading two cheaper booze 676 00:30:39,880 --> 00:30:42,080 Speaker 1: beer and cigarettes right now to amount of No, you're 677 00:30:42,320 --> 00:30:44,800 Speaker 1: only drinking Jim Beam right for the time being, not 678 00:30:44,880 --> 00:30:48,000 Speaker 1: even water, like, not against Jim Beam. If I wasn't 679 00:30:48,040 --> 00:30:52,520 Speaker 1: drinking water, then that would increase my budget significantly. Yeah. Well, um, 680 00:30:52,960 --> 00:30:57,480 Speaker 1: some some Americans still remain incredibly loyal to some specific brands, 681 00:30:57,480 --> 00:30:59,960 Speaker 1: of course, but that's really to their financial detriment because 682 00:31:00,280 --> 00:31:02,520 Speaker 1: see that just published a story about how much store 683 00:31:02,560 --> 00:31:05,280 Speaker 1: brands can save you, and they claim, based on the 684 00:31:05,360 --> 00:31:08,440 Speaker 1: data that they pulled from multiple grocery stores, that the 685 00:31:08,480 --> 00:31:11,240 Speaker 1: average savings by switching from name brands to store brands 686 00:31:11,560 --> 00:31:16,040 Speaker 1: is something in the range of believe that. Yeah, that's 687 00:31:16,400 --> 00:31:18,680 Speaker 1: backed up from that's so true what we've seen with 688 00:31:18,680 --> 00:31:21,320 Speaker 1: our own very eyes and wint to the grocery store ourselves, 689 00:31:21,360 --> 00:31:24,000 Speaker 1: but also from just kind of other data we've seen 690 00:31:24,000 --> 00:31:26,640 Speaker 1: in the past. Store brands are one of the quickest 691 00:31:26,640 --> 00:31:29,160 Speaker 1: ways to help you save money on your grocery bill, 692 00:31:29,280 --> 00:31:31,920 Speaker 1: and it's it's a trade off that more people should 693 00:31:31,920 --> 00:31:34,240 Speaker 1: be making. Definitely. Yeah, if you've only ever gone to 694 00:31:34,280 --> 00:31:38,400 Speaker 1: Public's I challenge, you go to Aldi and by all 695 00:31:38,440 --> 00:31:40,240 Speaker 1: the same types of items, you're not going to get 696 00:31:40,240 --> 00:31:41,880 Speaker 1: the same name brands for the most part, and I 697 00:31:41,880 --> 00:31:45,160 Speaker 1: guarantee you will see a forty reduction on that receipt 698 00:31:45,280 --> 00:31:47,640 Speaker 1: even if right, like they talked about shopping at Whole 699 00:31:47,680 --> 00:31:50,360 Speaker 1: Foods and how if you just opt for the store 700 00:31:50,400 --> 00:31:52,160 Speaker 1: brand items at Whole Foods. But I want them to 701 00:31:52,200 --> 00:31:54,239 Speaker 1: have that ALDI experienced it too. I mean, but if 702 00:31:54,240 --> 00:31:56,040 Speaker 1: you went from shopping name brand at Whole Foods to all, 703 00:31:56,120 --> 00:31:58,560 Speaker 1: you're going to cut your grocery bill at least in half, probably, 704 00:32:00,240 --> 00:32:02,240 Speaker 1: but at least at wherever you shop at least opening 705 00:32:02,240 --> 00:32:04,760 Speaker 1: for store brands is going to save you. Yeah, So 706 00:32:04,800 --> 00:32:07,600 Speaker 1: the opposite of saving money on store brands is paying 707 00:32:07,640 --> 00:32:10,640 Speaker 1: for something like or twenty dollar socks because the Journal 708 00:32:10,680 --> 00:32:14,240 Speaker 1: they just wrote a story about that phenomena. And honestly, like, 709 00:32:14,440 --> 00:32:16,040 Speaker 1: I don't I do not know who these people are, 710 00:32:16,320 --> 00:32:18,720 Speaker 1: not met them. If I have four hundreds of dollars 711 00:32:18,720 --> 00:32:21,040 Speaker 1: on socks, like I get it for like a pair 712 00:32:21,080 --> 00:32:24,000 Speaker 1: of like Darn Tough socks. Those are my favorite nicer socks. 713 00:32:24,200 --> 00:32:26,440 Speaker 1: But like we're still talking about socks that cost like 714 00:32:26,480 --> 00:32:29,160 Speaker 1: around twenty bucks a pair. Uh, And you can get 715 00:32:29,360 --> 00:32:32,280 Speaker 1: socks that are way cheaper at Costco or buying them 716 00:32:32,280 --> 00:32:34,920 Speaker 1: in bulk online where you're buying like eight twelve pairs 717 00:32:34,920 --> 00:32:37,840 Speaker 1: at once. But like, like for instance, Darn Tough, they 718 00:32:37,880 --> 00:32:41,400 Speaker 1: makes them seriously comfortable socks, and their warranty is unmatched, 719 00:32:41,480 --> 00:32:43,880 Speaker 1: like literally they will take any pair back if they 720 00:32:43,880 --> 00:32:45,560 Speaker 1: have holes in them. I'll just read them about that. 721 00:32:45,560 --> 00:32:47,760 Speaker 1: And they actually expanded their warranty page and they're showing 722 00:32:47,760 --> 00:32:49,880 Speaker 1: pairs of socks and yeah, they look like old socks 723 00:32:50,000 --> 00:32:51,360 Speaker 1: and they have holes in them, and they're like, yeah, 724 00:32:51,480 --> 00:32:53,440 Speaker 1: send them back. We will send you a new pair 725 00:32:53,760 --> 00:32:55,960 Speaker 1: that's phenomenal and the kind of brand I like to 726 00:32:55,960 --> 00:32:58,320 Speaker 1: get behind. But it just doesn't seem like you're getting 727 00:32:58,520 --> 00:33:00,600 Speaker 1: much in return if you're gonna spend like many times 728 00:33:00,600 --> 00:33:03,880 Speaker 1: that on some super fancy socks here, you know, spending 729 00:33:04,240 --> 00:33:06,880 Speaker 1: hundreds of dollars just to signal that you've got that money. 730 00:33:07,320 --> 00:33:09,880 Speaker 1: This is conspicuous consumption, is all it is. It's it's 731 00:33:09,960 --> 00:33:12,920 Speaker 1: luxury consumption. It's not like you're paying for something that's superior. 732 00:33:13,240 --> 00:33:15,440 Speaker 1: You're really paying your paying for a feeling to show 733 00:33:15,440 --> 00:33:17,520 Speaker 1: people you've got money. You're trying to show it off. Yeah, 734 00:33:17,600 --> 00:33:19,960 Speaker 1: then this is a sure fireway to to lose all 735 00:33:19,960 --> 00:33:22,800 Speaker 1: of your money. Uh. And as we're talking about socks, 736 00:33:22,840 --> 00:33:26,520 Speaker 1: this is a reminder for you to leave us a review. 737 00:33:26,640 --> 00:33:28,840 Speaker 1: That is how you get entered to win one of 738 00:33:28,880 --> 00:33:31,200 Speaker 1: the five pairs of How the Money socks. And these 739 00:33:31,200 --> 00:33:34,240 Speaker 1: are performance crew socks. Joel, Like, these go like midway 740 00:33:34,360 --> 00:33:37,000 Speaker 1: up the calf, would you say midway like almost up 741 00:33:37,040 --> 00:33:39,960 Speaker 1: to the knee. They're beautiful up to the knee. You're 742 00:33:39,960 --> 00:33:42,760 Speaker 1: not like soccer socks. You've got long legs, dude. For me, 743 00:33:42,800 --> 00:33:45,760 Speaker 1: they almost go to my knee. I've got really short legs. 744 00:33:45,800 --> 00:33:47,920 Speaker 1: Instead of paying hundreds of dollars for socks, get some 745 00:33:48,040 --> 00:33:50,880 Speaker 1: for free by leaving a review UM and your favorite 746 00:33:50,920 --> 00:33:54,520 Speaker 1: podcatcher for our show. We really appreciate it. It It helps 747 00:33:54,680 --> 00:33:58,040 Speaker 1: us reach more people with money saving advice. And remember 748 00:33:58,080 --> 00:33:59,680 Speaker 1: you just have to do that by this coming Wednesday 749 00:33:59,720 --> 00:34:01,840 Speaker 1: at the the day and send us an email to 750 00:34:02,040 --> 00:34:03,680 Speaker 1: how to Money pod at gmail dot com. We'll get 751 00:34:03,680 --> 00:34:05,200 Speaker 1: you entered. And if you've left her view in the past, 752 00:34:05,240 --> 00:34:07,600 Speaker 1: you can still enter. Just send us an email with 753 00:34:07,640 --> 00:34:09,879 Speaker 1: that screenshot and we'll get you entered in. That's right, 754 00:34:09,920 --> 00:34:11,760 Speaker 1: all right, Joel, that's gonna be it. We hope everyone 755 00:34:11,800 --> 00:34:15,439 Speaker 1: has a great weekend and until next time, best friends Out, 756 00:34:15,480 --> 00:34:16,919 Speaker 1: Best Friends Out.