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Speaker 1: Welcome to had the Money.

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Speaker 2: I'm Joel, I am Matt, and today we're talking bad raps,

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Speaker 2: price match murder, and premium points credit cards.

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Speaker 1: That's right, Joel. Everyone can tell that we're back in

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Speaker 1: the studio, back in the clubhouse. We're back in the

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Speaker 1: saddle here talking about personally very very western saying back

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Speaker 1: in the saddle. Yeah, I guess I was thinking about

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Speaker 1: was think about Rydan Horse. I talked about falling off

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Speaker 1: the horse and getting back on it again. Zealander quote. Man,

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Speaker 1: we it's just good to be able to kick folks off, right,

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Speaker 1: you know, Like that's one of the things that's so

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Speaker 1: great about Friday Flight episodes is I feel like I

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Speaker 1: get that we get to join our listeners as they

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Speaker 1: kick off their weekend. They're thinking about us as they're

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Speaker 1: like hanging out Friday night doing fun things on Saturday,

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Speaker 1: which Matt and Joel were here. Yeah exactly. It's like

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Speaker 1: we're tagging along with you. We wish we were too.

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Speaker 2: I'd love to be at your grandma's birthday party or

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Speaker 2: speaking of actually grandma's birthday parties. My next door neighbor.

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Speaker 1: Is any grandma birthday parties? Recently?

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Speaker 2: I have so my next door neighbor is actually a

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Speaker 2: great grandma. She just turned one hundred years old this

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Speaker 2: past weekend, so we.

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Speaker 1: Have your one hundred. You should be like a great

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Speaker 1: great grandma, I know, right, I mean may as well.

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Speaker 1: I don't think she's close to that status. Okay.

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Speaker 2: So she's just awesome, lovely person. And actually she's got

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Speaker 2: an older sister, which is which is cool. So her

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Speaker 2: geens are incredible. But one of the things that they

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Speaker 2: had displayed at her birthday party that her son put

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Speaker 2: together was this like fake newspaper article and it was

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Speaker 2: hearkening back to simpler times of one hundred years ago

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Speaker 2: when she was born and what things cost back then.

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Speaker 2: And I took a picture and my daughter and I

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Speaker 2: were like looking over it, and she was like, how

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Speaker 2: did stuff cost that little? Until we were it's really cool.

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Speaker 2: So I figured I would share a couple of things.

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Speaker 2: A new house in nineteen twenty five cost six thousand dollars.

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Speaker 1: A new car.

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Speaker 2: Can you guess how much a new car costs Matt

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Speaker 2: in ninety twenty five six hundred dollars three hundred ninety

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Speaker 2: dollars two.

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Speaker 1: LUs six hundred for the for the premium model, right, yes,

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Speaker 1: which you would have been if you wanted the leather

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Speaker 1: appointed seats with a nice wood. They weren't doing that thing.

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Speaker 1: They weren't doing that back then. That's another reason why

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Speaker 1: things are so expensive now is because everything is so nice. Yeah,

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Speaker 1: as opposed to just being kind of like the point

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Speaker 1: A to point B. This is made of steel. Yeah, yeah,

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Speaker 1: at onone break gotten fancy or bigger, lots more amenities. Okay,

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Speaker 1: what do you think a loaf of bread cost? Oh

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Speaker 1: a loaf of bread? Was that like ten cents? Spot on?

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Speaker 1: Is it really? Yeah? Well I'm thinking about when it

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Speaker 1: like five cents to go see like a movie? So

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Speaker 1: was it? Was it? What a state cost a steak? Yeah?

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Speaker 1: If a loaf of bread was ten cents the a steak,

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Speaker 1: iman's say seventeen thirty six cents? Oh okay, okay, but

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Speaker 1: here's the kicker. That's the thing. I bet beef. Back then,

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Speaker 1: everything was free range, grass fed, no antibiotics because none

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Speaker 1: of that stuff existed. That's true to one hundred years ago.

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Speaker 1: What do you think the average income was one hundred

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Speaker 1: years ago? Per year one hundred years ago, I don't

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Speaker 1: know man average income. Okay, So you said a house

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Speaker 1: costs six thousand dollars, So I'm going to say that

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Speaker 1: it would make sense back in the day if you're

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Speaker 1: like I saved up to buy this house for five years,

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Speaker 1: so I'm going to say about a.

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Speaker 2: Thousand bucks okay, close fourteen hundred Okay, Yeah, so you

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Speaker 2: made pretty good guesses there.

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Speaker 1: Put me in the hot seat. Well, I didn't like that.

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Speaker 2: I wanted to know, like, because I think it can

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Speaker 2: be dispiriting at times for people to see like, oh, yeah,

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Speaker 2: my grandma paid like fifteen grand maybe for her house

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Speaker 2: and that would have been an expensive house. Right.

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Speaker 1: It's important to pay attention to the income side of

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Speaker 1: things too. It's not just the outgoing what were yeah,

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Speaker 1: what were they earning back then?

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Speaker 2: It is and also much more than that, it's important

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Speaker 2: to pay attention to investment returns. So I was curious, Okay,

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Speaker 2: what if you invested one hundred dollars, which is obviously

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Speaker 2: a lot more than one hundred dollars today, But what

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Speaker 2: if you had invested one hundred dollars and you never

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Speaker 2: invested again for the rest of your life. And it

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Speaker 2: depends obviously on the rate of return, but.

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Speaker 1: Just a one time I'm lump sum depositive one time deposit. Yeah, yeah,

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Speaker 1: you would have an idea. You know, it depends on

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Speaker 1: like returns and inflation and all that stuff, but you'd

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Speaker 1: have what I do know that as ten percent average,

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Speaker 1: a nearly compounded Yeah, because that's that I am familiar

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Speaker 1: with that we have talked about over the course of

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Speaker 1: the past hundred year. O.

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Speaker 2: Well, I looked it up on a site called official

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Speaker 2: data dot com. Give it to me hundred bucks. Put

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Speaker 2: it in nineteen twenty four and year twenty twenty five

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Speaker 2: in the s and P five hundred, you would have

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Speaker 2: two million, seven hundred and sixty eight thousand dollars.

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Speaker 1: Oh yeah, so one hundred right, one hundred bucks. So

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Speaker 1: what do you think about that?

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Speaker 2: I mean, most of us don't have one hundred year

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Speaker 2: investing timeline, right, We've got maybe half that at most

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Speaker 2: because we start spending down that money at some point too.

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Speaker 2: But I just think investing is the way to counteract

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Speaker 2: a higher rising prices. And yeah, I saw a quote

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Speaker 2: or I saw Warren Buffett. Resounds like looking at old

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Speaker 2: warm buffet videos on YouTube because that's what I do

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Speaker 2: in my spare time because I'm weird, and you know,

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Speaker 2: he was talking about, Yeah, how just saving. Think about

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Speaker 2: how much it's going to cost to go to Disney

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Speaker 2: World next year. That's what he used as an example,

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Speaker 2: And well, the price on that's gonna go up. If

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Speaker 2: you're saving, yeah, maybe your saving straight will keep up,

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Speaker 2: maybe with the price higher price of Disney World tickets.

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Speaker 2: But if you're investing, that's how you grow your money

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Speaker 2: so that you can much more easily afford Disney World

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Speaker 2: tickets in the years to come. And I think that's

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Speaker 2: just a practical way to think about it. So I

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Speaker 2: looking back at those prices, I think the first initial

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Speaker 2: knee jerk for a lot of people at Miss Betty's

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Speaker 2: party was like, gosh, wouldn't it be nice depression if

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Speaker 2: my state, Yeah, if my state costs thirty six cents,

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Speaker 2: and now it's like eighteen dollars a pound. But you

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Speaker 2: look at the flip side of it, and it's like, oh, man,

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Speaker 2: if you were savvy with your money, actually inflation didn't

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Speaker 2: toast you like you. If you invested, you would more

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Speaker 2: than keep up with inflation, you would far surpass it.

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Speaker 1: Indeed, indeed, all right, this is our Friday flight, though

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Speaker 1: we're going to cover a lot of the different stories

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Speaker 1: that we've come across, not just this past week, but

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Speaker 1: we have some lost ground to catch up on, Joel.

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Speaker 1: The Big Beautiful Bill, which it's no longer called that

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Speaker 1: now is now it's the One Big Beautiful Bill Act.

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Speaker 1: So ohbbb OBBBA is what we have to call it. OBA.

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Speaker 1: But that passed about a month ago, which, uh, you know,

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Speaker 1: prioritize the current goals of the current administration over the

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Speaker 1: long term fiscal responsibilities of our country. But it did

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Speaker 1: cover a lot of ground, including extending the tax cuts

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Speaker 1: and jobs at.

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Speaker 2: I can say just from like how the sausage gets made.

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Speaker 2: Wouldn't it be nice if we had more bills that

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Speaker 2: were smaller in scope that we can more easily understand

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Speaker 2: how it used to go down, But sadly everything gets

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Speaker 2: shoved into one big the most.

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Speaker 1: Bill is how it goes down now. Yeah. So, but

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Speaker 1: what we're gonna do, we're gonna do old old school,

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Speaker 1: old school like Congress used to do it. We're gonna

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Speaker 1: break things down. So instead of doing one long, boring,

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Speaker 1: walky episode, we'll cover some of the A lot of

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Speaker 1: the different elements kind of sprinkled throughout the episodes. In

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Speaker 1: the coming weeks the ones that we think are going

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Speaker 1: to be most impactful to listeners. And so the raising

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Speaker 1: of the salt deductions from ten thousand dollars to forty

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Speaker 1: thousand dollars, that was a quite a contentious part of

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Speaker 1: the bill, but it's going to particularly benefit folks in

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Speaker 1: the most expensive states out there, like New York or California.

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Speaker 2: That comes to mind, and some people were saying, well,

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Speaker 2: the reason that population they're getting having population drain, especially

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Speaker 2: at the higher end of the income ladder in those states,

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Speaker 2: was because of that salt deduction cap, because it was

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Speaker 2: really costing people in high tax states a lot of

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Speaker 2: money on their taxes by having that in place. So

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Speaker 2: that was kind of part of this.

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Speaker 1: It felt like they're leaving money on the table basically

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Speaker 1: when they're just like when they're capped at ten thousand

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Speaker 1: dollars and they're saying, I've got plenty more I could

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Speaker 1: itemize here to get deducted off my taxes. So, yeah,

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Speaker 1: that's lifted up to forty thousand dollars. Now. Another group

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Speaker 1: of folks who are going to see their taxes go down

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Speaker 1: are folks who are sixty five and older, which certainly

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Speaker 1: isn't a huge portion of our audience, but it's a

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Speaker 1: straight up six thousand dollars deduction per person. And this

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Speaker 1: is for couples who are earning less than one hundred

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Speaker 1: and fifty thousand dollars. This is quite significant. So you're

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Speaker 1: looking at a total of twelve thousand dollars straight up deduction.

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Speaker 2: And again, we talked about we talked about this like

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Speaker 2: maybe a couple of months ago, about the finitude of

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Speaker 2: this bill, that oh, it's all this stuff that's happening,

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Speaker 2: but really it's only locked in. A lot of the

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Speaker 2: changes are baked in for a few years. So even

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Speaker 2: those the tax cuts, right, the tax cuts and job

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Speaker 2: backed that we're supposed to be made permanent in this well,

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Speaker 2: even though they're extended for a few more years. So

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Speaker 2: this is going to be another political battle, you know

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Speaker 2: that we can see on the timeline and then not

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Speaker 2: too distant future, we're gonna have a lot more discussions

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Speaker 2: about this, and we're going to have another bill passed.

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Speaker 1: Re visit it, which I've heard arguments for that for

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Speaker 1: this sort of natural sunsetting of some of these provisions,

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Speaker 1: and there's arguments for it, there's also arguments against it,

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Speaker 1: of course, because it's like, oh, this is the short

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Speaker 1: term kind of let's make the people happy. But I

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Speaker 1: think it's also from a fiscal again responsibility standpoint, it

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Speaker 1: can be helpful to be like, hey, this is going

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Speaker 1: to come back on the table and we're going to

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Speaker 1: talk about it again. Don't assume that this is going

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Speaker 1: to stick around, yeah, forever.

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Speaker 2: I think it's more of a political feet to the

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Speaker 2: fire thing though, and it's like, well, you're not for

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Speaker 2: so that's where that's this. We're going to how we're

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Speaker 2: going to run against you, and that's what the ads

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Speaker 2: are going to say. Another random part of this bill

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Speaker 2: is the car loan interest deduction up to ten thousand

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Speaker 2: dollars a year that people can take if they buy

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Speaker 2: a US assembled car and they have a loan on

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Speaker 2: that car. Right, Matt, what do we think of this?

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Speaker 1: Are?

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Speaker 2: We are we fans? This is like one of my

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Speaker 2: least favorite parts random things thrown into this bill because

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Speaker 2: I think it's going to help some people rationalize taking

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Speaker 2: out a loan on a new car when car loans

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Speaker 2: are pretty much always a bad idea. The average person,

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Speaker 2: like think about, you know, cars are more expensive. Interest

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Speaker 2: rates have gone up on cars, and this feels like

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Speaker 2: throwing a bone into people. Hey, you bought that expensive

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Speaker 2: new car and you got this nine percent interest rate.

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Speaker 2: You're probably paying something like two twenty five hundred dollars

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Speaker 2: a year in interest on that car. So we'll at

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Speaker 2: least allow you to save taxes on that. The average

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Speaker 2: person new car buyer is going to save something like

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Speaker 2: four hundred dollars a year in taxes because of this

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Speaker 2: thing included in the bill. And yeah, I'm just not

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Speaker 2: a fan because I think people will be able to

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Speaker 2: rationalize and say, now I get the tax incentive, I

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Speaker 2: might as well keep that loan around. When car loans

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Speaker 2: are a bad idea, dig into the details about your

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Speaker 2: income because of income over a certain threshold, you won't qualify.

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Speaker 2: And also what car make and model qualifies, because you

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Speaker 2: need to know that before buying it. And even still,

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Speaker 2: don't let that sway you into buying a new car

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Speaker 2: and taking out a sick loan that's going to cost

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Speaker 2: you a lot of money every month on the car.

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Speaker 2: Note too, ev tax credits on both new and used vehicles.

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Speaker 2: They are going away because of the One Big Beautiful

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Speaker 2: Bill Act September thirtieth thirtieth is the last day you're

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Speaker 2: going to be able to get that tax incentive for

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Speaker 2: buying an electric vehicle. So the effective price of EV's

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Speaker 2: is going to go up significantly. I think it's going

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Speaker 2: to make it less enticing to switch. I mean, I

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Speaker 2: told you that I canceled my.

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Speaker 1: No, I'm just gonna be out here driving my Slate truck,

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Speaker 1: my slate, my cool little Lego truck, all by myself.

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Speaker 1: I thought we're gonna have I know, sorry, man, I

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Speaker 1: guess it's just gonna be me.

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Speaker 2: And they're they're adorable and we would have looked good

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Speaker 2: riding next to each other in those trucks. But part

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Speaker 2: of the appeal was not just its low price point,

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Speaker 2: but low price price point with EV tax credit. And

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Speaker 2: I actually just bought a new used car we should

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Speaker 2: talk about on the show, a twenty year old car,

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Speaker 2: not not anything close to new. But that's why I

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Speaker 2: canceled my order. It is because oh I got this

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Speaker 2: new used car that's gonna last me, I think a

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Speaker 2: long time. Also, the Slate card.

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Speaker 1: Is not it's not gonna be as cheap as I

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Speaker 1: thought it was going to be. If they take away

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Speaker 1: the tax credits, seventy five hundred dollars tax or a

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Speaker 1: price bomp as we're straight up, I mean, that's a

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Speaker 1: big deal. It's it's crazy that some folks that was

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Speaker 1: like real money, right Like, I mean, that was an

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Speaker 1: instance to where it's not this it's not a deduction

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Speaker 1: of your income that's going to then reduce your tax bill.

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Speaker 1: This is a tax that was a tax credit. Yeah,

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Speaker 1: so dollar for dollar is how the price of those

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Speaker 1: evs was reduced, which is quite significant.

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Speaker 2: Well on that, on that front, we should just mention

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Speaker 2: they didn't. This bill didn't only pull back ev tax credits.

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Speaker 2: It's also pulling back energy efficient home repair tax credits

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Speaker 2: because yeah, that was supposed to have a long way

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Speaker 2: I think long runway. I think it was supposed to

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Speaker 2: expire in like twenty thirty two something like that, but

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Speaker 2: they're going away at the end of this year. So

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Speaker 2: if you have upgrades you're planning on making to your home,

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Speaker 2: well then get them done in a timely manner. If

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Speaker 2: you're planning on doing it next year, you probably want

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Speaker 2: to do it in just you know, November December something

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Speaker 2: like that of this year. So you may all have

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Speaker 2: to tax credit. But after this year they're going away.

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Speaker 1: Something else I saw. So while we're talking about cars though,

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Speaker 1: before we leave that, another reason to avoid buying new cars,

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Speaker 1: whether we're talking about electric vehicles or traditional internal combustion

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Speaker 1: engine cars, and that's because of a one thousand dollars

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Speaker 1: monthly car payment that is no longer the anomaly. I

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Speaker 1: saw that one in five buyers are signing up for

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Speaker 1: one of these. This is according to Edmunds. And not

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Speaker 1: even for thirty six months, not for three years. This

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Speaker 1: is often for over six years, which is insane. Man.

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Speaker 1: The risk of just blowing your budget and being underwater

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Speaker 1: in that loan for a long time is serious. And

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Speaker 1: I just crunch them numbers because I'm like, one thousand

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Speaker 1: dollars is so much money, man, So I can't fathom

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Speaker 1: were you to take that thousand dollars and invest it

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Speaker 1: in the market. Two thousand dollars a month agay, which

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Speaker 1: is a lot of money. I mean, if you're paying

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Speaker 1: that to I don't know. Some folks are like, well,

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Speaker 1: I gotta have a car, but you don't need to

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Speaker 1: have a brand new car, as Joel just mentioned to

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Speaker 1: you're twenty years old, you've got you got.

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Speaker 2: A two thousand and six Toyota. I think it's gonna

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Speaker 2: last me another decade.

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Speaker 1: Four hundred baby, Yeah, yeah, awesome, But it would take

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Speaker 1: you twenty seven years before that one thousand dollars a

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Speaker 1: month turns into one million dollars. Yeah, one million, Like

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Speaker 1: and I know you were just talking about inflation and

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Speaker 1: one hundred years ago, one million isn't what it used

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Speaker 1: to be, right, It's still still one million dollars is

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Speaker 1: a lot of money. And the reason part of why

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Speaker 1: we talk about these kind of things here on the

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Speaker 1: show is we want people to make informed decisions. They

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Speaker 1: just think they have to sign up for these things

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Speaker 1: to make these payments. And some folks are gonna be like, yeah,

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Speaker 1: it's a million dollars, but that's in twenty seven years, guys,

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Speaker 1: and they're gonna choose to go with a nice new car.

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Speaker 1: But there's gonna be other folks who say, wait, a

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Speaker 1: million dollar dollars. I didn't realize that. That's okay, I'm

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Speaker 1: gonna say no to the car, sign me up for

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Speaker 1: a million bucks. We want folks to make informed decisions.

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Speaker 1: Speaking of home energy things, it makes me think of

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Speaker 1: like the yellow energy you stickers. It's like what is

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Speaker 1: the cost of this to me over the long haul,

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Speaker 1: and essentially that's what you're giving up.

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Speaker 2: Yeah, you know, selling my other used car, the accurate

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Speaker 2: that so well, the guy, the guy that came over

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Speaker 2: and he ended up buying it. Yesterday we were talking

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Speaker 2: about that. He was like, the whole point nice of

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Speaker 2: me buying this car is so that I don't have

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Speaker 2: to have a car payment. And I'm like, I'm with you, man,

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Speaker 2: and so we can all for you. You'll have solidarity

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Speaker 2: on that point.

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Speaker 1: That's that's why you do it. Man.

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Speaker 2: I was like proud of him, man as a young

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Speaker 2: kid getting started, and I'm like, this thing's going to

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Speaker 2: treat you well. And I hope, I mean, I think

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Speaker 2: you can treat me well. So I hope that this

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Speaker 2: allows you to avoid having a car payment for many.

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Speaker 1: Don't make a promise like that where you've got zero

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Speaker 1: there's nothing you can do about.

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Speaker 2: Hey, this is treating you well. Yeah, it's a depress

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Speaker 2: I think you know, I'm like couching it. I'm not

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Speaker 2: telling him that this thing's like gold and going to

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Speaker 2: run forever.

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Speaker 1: Oh yeah, you're right. I can't promise that.

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Speaker 2: Let's talk about student loans for a second, like, something

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Speaker 2: thing else that changed? Can we say, Bigley, is that

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Speaker 2: a is that a President trump ism? That's up to you. Okay,

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Speaker 2: so I said, I try not to adopt trump isms. Yeah, personally.

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Speaker 1: Okay.

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Speaker 2: Well, something else that changed in a big way because

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Speaker 2: of this new bill is student loans. Gone are the

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Speaker 2: days of past payments and generous repayment plans. The safe

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Speaker 2: plan is gone for good and there's something new in

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Speaker 2: its place, the Repayment Assistance Plan or RAP. That's that's

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Speaker 2: the new thing in town. So if you borrow money,

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Speaker 2: does it sound more hip to you because it's rap? Yeah?

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Speaker 1: I think so. Let's rap kids, right, Hello, fellow children.

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Speaker 1: I forget what Steve Amy says. Oh yeah, what is

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Speaker 1: that in? What's that? Happy to go more? I don't

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Speaker 1: even know. It's been a while. Yeah.

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Speaker 2: If you if you borrow money though from the federal

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Speaker 2: student loan program after July first, and we are past

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Speaker 2: that date, this is the repayment program you'll be under.

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Speaker 2: Our friends at Student Loan Planner. We had Travis hornsbyond

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Speaker 2: a few months ago.

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Speaker 1: Uh.

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Speaker 2: They they are advising extreme caution right now for people

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Speaker 2: when they're considering my especially people who already have have

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Speaker 2: student loans from the federal government under their belt. They're

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Speaker 2: even telling folks, they are telling those folks to consider

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Speaker 2: private student loans to avoid having all of your loans,

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Speaker 2: because if you already have existing student loans and you

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Speaker 2: take out more, they'll all be put onto the rap plan,

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Speaker 2: which isn't as generous as the plans you might already

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Speaker 2: be on, So be wary for that. We'll link to

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Speaker 2: a blog post from them on that, detailing kind of

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Speaker 2: some of the intricacies. Also, student loans are accruing interest. Again,

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Speaker 2: the average borrower is going to pay more than like

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Speaker 2: thirty five hundred dollars a year in interest alone. And

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Speaker 2: at the headlines and the details of what's happening to

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Speaker 2: student loan borrowers in this country, there's just there's a

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Speaker 2: lot of people wringing their hands because they're nervous about

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Speaker 2: what this is going to mean and how they're going

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Speaker 2: to be able to handle these increased payments back in

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Speaker 2: their lives.

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Speaker 1: Yeah, I will say moving forward, I don't know. Maybe

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Speaker 1: maybe it's because I never had student loans with the

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Speaker 1: different income based for payment plans. I feel like I

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Speaker 1: could never fully get my head around it. It's like

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Speaker 1: just the complexity involved with all the different places.

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Speaker 2: All the alphabet soup, and the tiny sliver detailed differences

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Speaker 2: in between them.

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Speaker 1: I will say the simplicity of Wrap it took me

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Speaker 1: five minutes of kind of like reading some of the

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Speaker 1: details to fully understand at least I think as to

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Speaker 1: what it offers, which I appreciate the simplicity. Yeah, the

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Speaker 1: simplicity is great, and it's because it's got this flat

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Speaker 1: fee regardless of how much you make. So like basically,

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Speaker 1: if you make ten thousand dollars or less, you're still

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Speaker 1: going to pay ten bucks. But then beyond that, for

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Speaker 1: every thousand dollars, every ten thousand dollars of income, you

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Speaker 1: just pay one percent more of your income. So basically,

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Speaker 1: if you make thirty seven thousand dollars, you're paying three percent,

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Speaker 1: If you make seventy seven thousand dollars, you're paying seven percent.

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Speaker 1: If you make one hundred and twenty thousand, well, you're

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Speaker 1: still your capped at that ten percent. It doesn't go

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Speaker 1: above that ten percent. That's not something I could say

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Speaker 1: with the previous plans.

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Speaker 2: Yes, at the very least, that's why we had to

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Speaker 2: have experts on to talk about all the details, like

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Speaker 2: the people who eat, breathe, and sleep sudent longs. Yeah,

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Speaker 2: so that's one thing I can appreciate about RAP. But

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Speaker 2: generally speaking, this this means that student in bars aren't

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Speaker 2: doing so well with interest accruing. Again, in particular, many

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Speaker 2: are feeling the financial pinch, and I think for others

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Speaker 2: it's just going to feel like a full on chainsaw

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Speaker 2: to their budgets. And as we've mentioned before the government

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Speaker 2: has the ability to dock your pay and they seem

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Speaker 2: likely to pursue payment by garnishing wages. So we feel

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Speaker 2: for you if you are impacted by this jarring pie

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Speaker 2: change when it comes to student loan policy. I like

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Speaker 2: the current the way things are looking now moving forward

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Speaker 2: if we can just stick with that, But I don't

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Speaker 2: like how things to be. Things seem to be whipping

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Speaker 2: back and forth perhaps.

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Speaker 1: Every four years.

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Speaker 2: Yeah, I think that's that's the tough part in the stomach,

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Speaker 2: is like the promises that seem sure that don't get kept,

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Speaker 2: and then the next person's like, we're going to do

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Speaker 2: the exact opposite, and you're like, I don't they actually

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Speaker 2: get accomplished their goals and they this time around.

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Speaker 1: It's it's tough. Know that not paying making these payments.

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Speaker 1: This isn't a great option, like we don't want you

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Speaker 1: to not put food on the table or anything like that.

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Speaker 1: But just know that the FEDS are serious about collecting

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Speaker 1: on that student loan debt. The government. They even have

433
00:18:58,680 --> 00:19:02,440
Speaker 1: the ability to dock Social Security payments from older Americans

434
00:19:02,440 --> 00:19:04,199
Speaker 1: who have student loan debt. I can't imagine there's too

435
00:19:04,240 --> 00:19:07,080
Speaker 1: many of those folks. There's more than a think really, yeah,

436
00:19:07,359 --> 00:19:08,960
Speaker 1: that's the folks who have taken out student loans made

437
00:19:09,040 --> 00:19:10,240
Speaker 1: for their press rand kids.

438
00:19:10,280 --> 00:19:13,080
Speaker 2: Depressing to think, but there are people collecting SoCal Security

439
00:19:13,240 --> 00:19:14,000
Speaker 2: owe money on students.

440
00:19:14,119 --> 00:19:16,879
Speaker 1: That being said, that has been paused at least for

441
00:19:16,880 --> 00:19:17,720
Speaker 1: a now. Yeah.

442
00:19:17,920 --> 00:19:20,679
Speaker 2: Also watch out for student loan advice on TikTok. We've

443
00:19:20,680 --> 00:19:23,400
Speaker 2: talked about just financial advice in general and social media.

444
00:19:23,480 --> 00:19:25,080
Speaker 2: Some of it's great, but there's a lot of like

445
00:19:25,200 --> 00:19:28,159
Speaker 2: crummy stuff too and just flat out lies. At the

446
00:19:28,160 --> 00:19:30,840
Speaker 2: same time, there are people out there saying, oh, no,

447
00:19:30,920 --> 00:19:33,640
Speaker 2: there's an easy path to student loan forgiveness, but it's wrong.

448
00:19:34,080 --> 00:19:36,240
Speaker 2: They basically say, hey, dispute your student loan debt with

449
00:19:36,280 --> 00:19:38,359
Speaker 2: the credit bureaus. It's going to get removed from your

450
00:19:38,400 --> 00:19:42,000
Speaker 2: credit report whil your student loans are gone from your life,

451
00:19:42,040 --> 00:19:44,240
Speaker 2: and that sounds nice and that.

452
00:19:44,600 --> 00:19:45,440
Speaker 1: Yeah, it might.

453
00:19:45,280 --> 00:19:47,719
Speaker 2: Actually get removed from your credit report for a hot minute,

454
00:19:47,760 --> 00:19:50,440
Speaker 2: but it could just be temporary and it does nothing

455
00:19:50,440 --> 00:19:52,920
Speaker 2: to eliminate the debt or pause the need for you

456
00:19:53,040 --> 00:19:55,560
Speaker 2: to make payments. So I don't know, maybe stick to

457
00:19:55,600 --> 00:19:58,719
Speaker 2: TikTok dance videos. If people still doing that, I don't know.

458
00:19:58,840 --> 00:20:01,480
Speaker 2: I'm sure they are relationship advice. That's probably you think

459
00:20:01,520 --> 00:20:03,959
Speaker 2: that's good on TikTok, Matt, of course, Okay, yeah, everything's

460
00:20:04,040 --> 00:20:07,400
Speaker 2: right on TikTok except for the financial advice. So yeah, yeah, okay, yeah,

461
00:20:07,480 --> 00:20:09,480
Speaker 2: I don't I wouldn't know because I literally I have

462
00:20:09,640 --> 00:20:10,280
Speaker 2: never been on there.

463
00:20:10,320 --> 00:20:12,240
Speaker 1: So all right, but we've got plenty more to get to.

464
00:20:12,320 --> 00:20:15,960
Speaker 1: We're gonna talk about one of the bigger retailers out there, Amazon,

465
00:20:16,119 --> 00:20:17,920
Speaker 1: among others. We'll get to all of that and more

466
00:20:18,119 --> 00:20:27,880
Speaker 1: right after the break. Right, we're back in just a minute.

467
00:20:27,880 --> 00:20:31,960
Speaker 2: We're going to talk about some new credit card products

468
00:20:32,240 --> 00:20:34,840
Speaker 2: that come with really high annual fees. Oftentimes the perks

469
00:20:34,840 --> 00:20:37,200
Speaker 2: are sick on those cards. But are these new ones

470
00:20:37,240 --> 00:20:39,320
Speaker 2: worth it. We'll talk about that, but Matt first, let's

471
00:20:39,320 --> 00:20:41,320
Speaker 2: get to the ludicrous headline of the week. This one

472
00:20:41,359 --> 00:20:44,080
Speaker 2: comes from the Wall Street Journal and the title is

473
00:20:44,359 --> 00:20:47,800
Speaker 2: the origin of the eighty dollars popcorn Bucket.

474
00:20:48,160 --> 00:20:49,240
Speaker 1: Too rich for my blood?

475
00:20:49,400 --> 00:20:52,960
Speaker 2: Yeah, man, I mean, I spend on things you love,

476
00:20:53,040 --> 00:20:54,920
Speaker 2: but if you love eighty dollar popcorn buckets, I got

477
00:20:54,960 --> 00:20:55,600
Speaker 2: questions for you.

478
00:20:56,119 --> 00:20:58,880
Speaker 1: So this is a phenomena that all started with Dune, Yes,

479
00:20:58,920 --> 00:21:02,480
Speaker 1: with the Dune Bugget, which just going back, I saw

480
00:21:02,560 --> 00:21:05,160
Speaker 1: they I think they included pictures of that because it's

481
00:21:05,200 --> 00:21:05,960
Speaker 1: just so insane.

482
00:21:06,040 --> 00:21:10,119
Speaker 2: It's tough to fathom reaching your hand in that bucket

483
00:21:10,119 --> 00:21:10,879
Speaker 2: to get the popcorn out.

484
00:21:10,920 --> 00:21:12,360
Speaker 1: He's going to do that. It's kind of creepy.

485
00:21:12,640 --> 00:21:14,760
Speaker 2: But you know, the movies are back. I think I'm

486
00:21:14,760 --> 00:21:17,159
Speaker 2: curious if the f one movie performed. Well, I kind

487
00:21:17,160 --> 00:21:19,399
Speaker 2: of wanted to see that in theaters, but also, I

488
00:21:19,440 --> 00:21:20,800
Speaker 2: can't tell you the last time I saw a movie

489
00:21:20,800 --> 00:21:22,320
Speaker 2: in theater, so I knew it wasn't gonna happen, even

490
00:21:22,320 --> 00:21:23,320
Speaker 2: though I thought it would have been cool.

491
00:21:23,359 --> 00:21:25,399
Speaker 1: I know the last movie I saw, what which was

492
00:21:25,560 --> 00:21:28,119
Speaker 1: the How to Train Your Dragon? Oh, okay, real life

493
00:21:28,320 --> 00:21:30,200
Speaker 1: or what do you call it. I don't know, it's

494
00:21:30,240 --> 00:21:32,760
Speaker 1: not realize you went by yourself without the kids, right, exactly. No,

495
00:21:32,880 --> 00:21:34,800
Speaker 1: this was the first movie that we've ever taken the

496
00:21:34,880 --> 00:21:38,080
Speaker 1: entire family to. Oh wow, ever, isn't that crazy? That's crazy? Yeah,

497
00:21:38,119 --> 00:21:39,959
Speaker 1: your kids live a sheltered life. Well, it's just there

498
00:21:39,960 --> 00:21:41,840
Speaker 1: aren't that many great movies out there. And why do

499
00:21:41,920 --> 00:21:43,400
Speaker 1: you like, why do you go to the movie theater

500
00:21:43,440 --> 00:21:45,960
Speaker 1: when you've got a solid size TV at home and

501
00:21:45,960 --> 00:21:49,399
Speaker 1: it's comfortable. We make our own popcorn with like oil

502
00:21:49,440 --> 00:21:51,520
Speaker 1: in the pot and pop it on the stovetop, as

503
00:21:51,560 --> 00:21:55,440
Speaker 1: opposed to whatever stale preserve popcorn they've got there. So

504
00:21:55,960 --> 00:21:58,960
Speaker 1: yet another reason to not pay for the eighty dollars popcorn.

505
00:22:00,240 --> 00:22:02,560
Speaker 1: Come up with your own cool vessels at home. Yeah,

506
00:22:02,800 --> 00:22:03,640
Speaker 1: just plain ole bwles.

507
00:22:03,640 --> 00:22:06,760
Speaker 2: But this one is interesting. It's like some New Fantastic four,

508
00:22:06,920 --> 00:22:09,800
Speaker 2: which apparently, this New Fantastic for movie is actually good,

509
00:22:10,160 --> 00:22:12,359
Speaker 2: but it's this eighty dollars popcorn bucket attached to it.

510
00:22:12,359 --> 00:22:14,159
Speaker 2: And I guess these popcorn buckets have taken on a

511
00:22:14,160 --> 00:22:16,439
Speaker 2: life of their own. But what do you do with

512
00:22:16,560 --> 00:22:19,760
Speaker 2: a popcorn bucket once you're done with it? I'm even

513
00:22:20,040 --> 00:22:23,440
Speaker 2: reluctant to buy popcorn at all of the movie theaters. Yeah,

514
00:22:23,520 --> 00:22:25,640
Speaker 2: we got like a there's a you know, we rarely

515
00:22:25,680 --> 00:22:27,400
Speaker 2: go to the movies, maybe like four or five times

516
00:22:27,400 --> 00:22:29,520
Speaker 2: a year with the kids, but we got the on

517
00:22:29,600 --> 00:22:32,800
Speaker 2: Black Friday. There are local theater which is far less

518
00:22:32,800 --> 00:22:35,240
Speaker 2: expensive than the other theaters. For some reason, probably just

519
00:22:35,280 --> 00:22:38,280
Speaker 2: a little rundown, they were selling like the actual refillable

520
00:22:38,280 --> 00:22:41,080
Speaker 2: bucket I forget. I was like eight dollars or something

521
00:22:41,160 --> 00:22:43,880
Speaker 2: like that, and the refills are just like like four

522
00:22:43,920 --> 00:22:47,119
Speaker 2: dollars every time we go, And so that felt okay,

523
00:22:47,160 --> 00:22:49,520
Speaker 2: I think I'm willing to pounce on that and don't

524
00:22:49,560 --> 00:22:52,040
Speaker 2: drop that bucket to let it break right over there

525
00:22:52,119 --> 00:22:56,320
Speaker 2: tape in his to give it together. But yeah, the

526
00:22:56,359 --> 00:22:58,560
Speaker 2: eighty dollars popcorn bucket makes zero sense to me.

527
00:22:58,920 --> 00:23:00,000
Speaker 1: What are you gonna do? Put it on your shelf

528
00:23:00,000 --> 00:23:01,600
Speaker 1: when you're done with it. It feels like a like

529
00:23:01,640 --> 00:23:05,199
Speaker 1: a movie theater status symbol. Yeah, which, like is that

530
00:23:05,200 --> 00:23:07,679
Speaker 1: the kind of status symbol you'd have? Which okay, So

531
00:23:07,680 --> 00:23:09,119
Speaker 1: this makes me think of this is like an impulse

532
00:23:09,160 --> 00:23:11,240
Speaker 1: purchase that someone would totally make the theater be like, yeah,

533
00:23:11,240 --> 00:23:12,800
Speaker 1: that looks cool. I guess I'll get it. I guess

534
00:23:12,840 --> 00:23:14,480
Speaker 1: so okay, so I guess I've got a frugal or

535
00:23:14,520 --> 00:23:16,720
Speaker 1: cheap So that when we went and saw How to

536
00:23:16,760 --> 00:23:20,159
Speaker 1: Train Your Dragon ahead of Time Kate and Night, we

537
00:23:20,200 --> 00:23:22,920
Speaker 1: told all the kids, hey, you can take some candy

538
00:23:22,960 --> 00:23:25,080
Speaker 1: to the movie theater because we're not going to buy

539
00:23:25,119 --> 00:23:28,960
Speaker 1: the crummy, expensive, overpriced popcorn there in the theater. Is

540
00:23:29,000 --> 00:23:31,919
Speaker 1: that frugal or cheap showing up with your own candy?

541
00:23:32,080 --> 00:23:36,600
Speaker 1: I think it's Is it instilling improper virtue or tactics

542
00:23:36,600 --> 00:23:37,800
Speaker 1: in the minds of our children.

543
00:23:38,040 --> 00:23:40,680
Speaker 2: You're just you're, yeah, bring, I don't care. I'm totally

544
00:23:40,760 --> 00:23:42,720
Speaker 2: down to stop by the gas station, get your candy

545
00:23:42,720 --> 00:23:43,439
Speaker 2: bar there and bring it.

546
00:23:43,480 --> 00:23:46,000
Speaker 1: Oh no, we were picking up Halloween candy that we

547
00:23:46,000 --> 00:23:48,200
Speaker 1: still have in our pantry from last year. That might

548
00:23:48,240 --> 00:23:51,000
Speaker 1: be stale and nasty at this point too. Candy lasts forever.

549
00:23:51,840 --> 00:23:54,840
Speaker 1: We well, I don't know, man, Yeah, maybe not. It

550
00:23:54,880 --> 00:23:56,479
Speaker 1: was just one of those instances to where we're kind

551
00:23:56,480 --> 00:23:58,480
Speaker 1: of catching ourselves. We're like, well, are we teaching the

552
00:23:58,560 --> 00:24:01,600
Speaker 1: kids to like be scofflaws? I don't know. We dialed

553
00:24:01,600 --> 00:24:03,679
Speaker 1: it back because initially they had like handfuls of candy.

554
00:24:04,040 --> 00:24:06,560
Speaker 1: We're like, no, it needs to fit in your hand.

555
00:24:06,920 --> 00:24:10,119
Speaker 1: That's that's how we basically limited how much candy they

556
00:24:10,240 --> 00:24:12,280
Speaker 1: they could show up with. Anyway, I'm glad you hear.

557
00:24:12,560 --> 00:24:15,399
Speaker 1: At least you are not judging me, Joel. All of

558
00:24:15,440 --> 00:24:17,840
Speaker 1: our listeners are judging us. Let's talk about some of

559
00:24:17,880 --> 00:24:21,399
Speaker 1: our favorite businesses out there, the ones who don't seem

560
00:24:21,400 --> 00:24:24,240
Speaker 1: to be treating their customers all that well. Oh, first

561
00:24:24,240 --> 00:24:26,640
Speaker 1: of all, did you see that Delta they're getting ready

562
00:24:26,640 --> 00:24:30,320
Speaker 1: to launch that AI pricing model. It's like dynamic pricing

563
00:24:30,400 --> 00:24:31,920
Speaker 1: two point zero. I love there to take it to

564
00:24:32,000 --> 00:24:34,160
Speaker 1: the next level. Their response because they were basically like,

565
00:24:34,400 --> 00:24:36,920
Speaker 1: what are you talking about? We never even were considering this,

566
00:24:36,960 --> 00:24:40,320
Speaker 1: when clearly they were, but they were like backing away quickly,

567
00:24:40,400 --> 00:24:44,560
Speaker 1: like Homer subsident. Normally, normally everyone's jumping all over the AI,

568
00:24:45,400 --> 00:24:46,919
Speaker 1: but in this case they're like, oh, wait a minute,

569
00:24:46,960 --> 00:24:49,199
Speaker 1: I guess in this case, we're using the AI against you.

570
00:24:49,280 --> 00:24:52,520
Speaker 1: So actually it's not AI. It's just a fancy dynamic pricing,

571
00:24:52,640 --> 00:24:55,000
Speaker 1: which you've always done. Guys. Now, I feel like there

572
00:24:55,000 --> 00:24:58,200
Speaker 1: are more and more stories about different retailers, in particular

573
00:24:58,480 --> 00:25:01,320
Speaker 1: not taking the high road target in particular, they are

574
00:25:01,400 --> 00:25:04,840
Speaker 1: ending a favorable price match policy that it's had for years.

575
00:25:05,240 --> 00:25:07,040
Speaker 1: It's basically the way it worked if you found an

576
00:25:07,080 --> 00:25:09,879
Speaker 1: item that you bought at Target for less money within

577
00:25:10,240 --> 00:25:13,399
Speaker 1: fourteen days within two weeks of purchase at a competitor,

578
00:25:13,800 --> 00:25:16,600
Speaker 1: you get a refund for the difference. And this is

579
00:25:16,680 --> 00:25:20,040
Speaker 1: not something that they're honoring anymore as of last week.

580
00:25:20,600 --> 00:25:24,440
Speaker 1: Evidently Target doesn't want to compete on price in that way.

581
00:25:24,480 --> 00:25:27,399
Speaker 1: And this is something that you've taken taken advantage of.

582
00:25:27,480 --> 00:25:30,040
Speaker 1: Right you are one of the few people that I

583
00:25:30,160 --> 00:25:33,639
Speaker 1: know who's willing to see something that you purchased in

584
00:25:33,640 --> 00:25:36,960
Speaker 1: the past and then go and make a case for

585
00:25:36,960 --> 00:25:38,600
Speaker 1: why it is that they should give you some money back.

586
00:25:39,400 --> 00:25:41,679
Speaker 2: Well, I even this is going to sound weird. I

587
00:25:41,720 --> 00:25:44,280
Speaker 2: was buying a backpack from my daughter going back to

588
00:25:44,280 --> 00:25:47,080
Speaker 2: school backpack, and then I saw that it was thirty

589
00:25:47,080 --> 00:25:50,200
Speaker 2: percent off like a few days later, so I ordered

590
00:25:50,240 --> 00:25:52,560
Speaker 2: it again. So I had two of the same backpack,

591
00:25:52,760 --> 00:25:55,159
Speaker 2: and then I took back the one and returned it

592
00:25:55,200 --> 00:25:57,040
Speaker 2: on under the full price skew.

593
00:25:57,160 --> 00:25:59,440
Speaker 1: So, yeah, sometimes that's what you gotta do, Yeah.

594
00:25:59,200 --> 00:26:01,600
Speaker 2: Because I mean, that's just the easiest way to go

595
00:26:01,600 --> 00:26:04,520
Speaker 2: about it sometimes, but it's slightly more automated.

596
00:26:04,520 --> 00:26:06,919
Speaker 1: I think this is okay. So one of the reasons

597
00:26:06,960 --> 00:26:09,800
Speaker 1: I think targets why they are not doing this anymore

598
00:26:09,840 --> 00:26:12,240
Speaker 1: is because there's like a judgment call that's involved, Like

599
00:26:12,280 --> 00:26:14,560
Speaker 1: someone has to be there making a case, making an argument,

600
00:26:14,640 --> 00:26:17,520
Speaker 1: pointing to a price somewhere else, and someone else has

601
00:26:17,560 --> 00:26:19,600
Speaker 1: to be looking at it saying, oh, yeah, I guess

602
00:26:19,640 --> 00:26:22,040
Speaker 1: that's legit. Did you photoshop this? I don't know, it's

603
00:26:22,080 --> 00:26:25,000
Speaker 1: on your phone, as opposed to something like what you

604
00:26:25,119 --> 00:26:28,040
Speaker 1: just described, which was a return, which is much more automated.

605
00:26:28,560 --> 00:26:30,800
Speaker 1: It's just more streamlined, and I think there are more

606
00:26:30,840 --> 00:26:34,320
Speaker 1: folks who are finding ways to be savvy shoppers by

607
00:26:34,400 --> 00:26:38,200
Speaker 1: essentially making returns things that they are like, you know what, actually,

608
00:26:38,200 --> 00:26:39,800
Speaker 1: I don't see the value in that, even though I

609
00:26:39,840 --> 00:26:41,760
Speaker 1: purchased it, and let's be honest, and they're sending it back.

610
00:26:41,840 --> 00:26:45,560
Speaker 2: Prices are far more dynamic these days, so the Amazon

611
00:26:45,640 --> 00:26:47,679
Speaker 2: might offer an incredible price on an item that you

612
00:26:47,720 --> 00:26:49,040
Speaker 2: just bought from Target, and then you go over to

613
00:26:49,080 --> 00:26:50,840
Speaker 2: Target and you're like, hey, look look how cheap it is.

614
00:26:50,840 --> 00:26:52,639
Speaker 2: Give me my money back, and they're like, but that

615
00:26:53,000 --> 00:26:55,000
Speaker 2: they had it that way. For like a day or

616
00:26:55,359 --> 00:26:57,800
Speaker 2: maybe less than that, so we don't feel compelled to

617
00:26:57,880 --> 00:27:00,280
Speaker 2: price to match that price. So I get why is

618
00:27:00,280 --> 00:27:00,640
Speaker 2: doing it?

619
00:27:00,840 --> 00:27:01,200
Speaker 1: I don't.

620
00:27:01,320 --> 00:27:03,520
Speaker 2: I'm not throwing shade at Target. I think actually Target's

621
00:27:03,840 --> 00:27:06,720
Speaker 2: done a pretty good job attracting customers in recent years.

622
00:27:06,760 --> 00:27:08,960
Speaker 2: And guess what, none of their competitors had a policy

623
00:27:09,040 --> 00:27:10,840
Speaker 2: like this, So for them to be able to compete,

624
00:27:10,880 --> 00:27:13,320
Speaker 2: they just got It's almost like they're at a disadvantage

625
00:27:13,320 --> 00:27:14,879
Speaker 2: if they keep a policy like that around.

626
00:27:15,080 --> 00:27:15,320
Speaker 1: Yeah.

627
00:27:15,400 --> 00:27:17,679
Speaker 2: I wish that they could keep a policy like that,

628
00:27:17,840 --> 00:27:19,680
Speaker 2: but it's just not the way.

629
00:27:19,840 --> 00:27:22,520
Speaker 1: The modern market works. That's how I feel. Yeah, so

630
00:27:22,520 --> 00:27:24,440
Speaker 1: they just can't can't play that game. Well, I mean

631
00:27:24,480 --> 00:27:26,840
Speaker 1: I see it. It's more like forward looking, whereas you

632
00:27:26,920 --> 00:27:29,520
Speaker 1: keep tabs on like previous purchases that you made. I'm

633
00:27:29,560 --> 00:27:33,000
Speaker 1: always just like, all right, what's next, which maybe put

634
00:27:33,000 --> 00:27:36,400
Speaker 1: says more like in like lumps us with the typical

635
00:27:36,440 --> 00:27:39,120
Speaker 1: American consumer, Like you're talking about back to school shop,

636
00:27:39,119 --> 00:27:40,280
Speaker 1: and I mean, I don't know how many pairs of

637
00:27:40,280 --> 00:27:43,000
Speaker 1: shoes there are at our house currently, but we've got

638
00:27:43,000 --> 00:27:45,400
Speaker 1: a lot because you order a bunch, see which ones fit.

639
00:27:45,480 --> 00:27:47,720
Speaker 1: Like we're not going to go into the store into

640
00:27:47,720 --> 00:27:49,720
Speaker 1: the shoe store. We're gonna find the ones that the

641
00:27:49,800 --> 00:27:52,120
Speaker 1: kids like, that fit the best, that actually fit because

642
00:27:52,119 --> 00:27:53,920
Speaker 1: the sizes are all over the place, and then you

643
00:27:53,960 --> 00:27:55,400
Speaker 1: send the rest of them back. And I think that's

644
00:27:55,400 --> 00:27:59,199
Speaker 1: one of the ways that Amazon has competed, and like

645
00:27:59,240 --> 00:28:01,800
Speaker 1: they've kind of changed our behavior to a certain extent

646
00:28:02,080 --> 00:28:04,520
Speaker 1: because folks are taking advantage of the ability to make

647
00:28:04,520 --> 00:28:07,080
Speaker 1: those returns, which is probably why we're starting to see

648
00:28:07,320 --> 00:28:09,600
Speaker 1: prices with Amazon starting to tick up a.

649
00:28:09,600 --> 00:28:14,040
Speaker 2: Little bit, because they're taking advantage behavioral reliance on them.

650
00:28:14,080 --> 00:28:16,800
Speaker 1: Right, So, Okay, this is why we can't have nice things.

651
00:28:17,400 --> 00:28:20,040
Speaker 2: I hope she's listening today, because returns, well, the Wall

652
00:28:20,040 --> 00:28:24,159
Speaker 2: Street Journal actually has been tracking a basket of like

653
00:28:24,520 --> 00:28:28,400
Speaker 2: hundreds of goods that Amazon sells, and Amazon's over here

654
00:28:28,440 --> 00:28:30,920
Speaker 2: saying like, we've been keeping our prices low for customers,

655
00:28:30,960 --> 00:28:33,720
Speaker 2: and the Wall Street Journal is saying, all contraire, You've

656
00:28:33,760 --> 00:28:36,119
Speaker 2: actually been raising prices on a lot of these goods.

657
00:28:36,560 --> 00:28:39,160
Speaker 2: And I think for a lot of years, Matt, Amazon

658
00:28:39,240 --> 00:28:41,880
Speaker 2: did keep prices pretty low. They were trying to mass

659
00:28:41,880 --> 00:28:45,520
Speaker 2: customer share, and so that's why so many people became

660
00:28:45,600 --> 00:28:48,720
Speaker 2: incredibly reliant on Amazon and It became their go to

661
00:28:48,800 --> 00:28:50,680
Speaker 2: place to shop for stuff because they were like, it's

662
00:28:50,680 --> 00:28:53,720
Speaker 2: easy and it's cheap. But that is becoming less the case.

663
00:28:54,440 --> 00:28:57,440
Speaker 2: And you know, free markets are great, but when we

664
00:28:57,440 --> 00:29:00,680
Speaker 2: don't take advantage of free markets, when we are knee

665
00:29:00,760 --> 00:29:04,040
Speaker 2: jerk going to Amazon to buy stuff, we are more

666
00:29:04,200 --> 00:29:06,640
Speaker 2: likely to pay more than we should or need to,

667
00:29:06,760 --> 00:29:10,320
Speaker 2: or more than other retailers are charging because Amazon realizes

668
00:29:10,720 --> 00:29:13,520
Speaker 2: that we are we have we got the Prime membership,

669
00:29:13,520 --> 00:29:16,520
Speaker 2: we're super down with the convenient delivery, and so we're

670
00:29:16,560 --> 00:29:19,000
Speaker 2: just going to pay whatever price Amazon tells us they're

671
00:29:19,080 --> 00:29:22,440
Speaker 2: charging now instead of shopping around and think this is

672
00:29:22,520 --> 00:29:24,280
Speaker 2: just should be a good reminder for how to money

673
00:29:24,280 --> 00:29:27,720
Speaker 2: listeners that as Amazon was raising prices over the last

674
00:29:27,720 --> 00:29:29,880
Speaker 2: few months on a bunch of these goods, Walmart was

675
00:29:29,960 --> 00:29:32,160
Speaker 2: lowering prices on the goods. So the price gap has

676
00:29:32,320 --> 00:29:35,440
Speaker 2: increased between what Amazon sells stuff for and Walmart sells

677
00:29:35,440 --> 00:29:38,200
Speaker 2: stuff for. And that's you know, a couple hundred goods.

678
00:29:38,240 --> 00:29:42,280
Speaker 2: It's not pervasive, necessarily, or indicative of everything you might

679
00:29:42,320 --> 00:29:45,560
Speaker 2: buy exactly, but it's a good reminder tonot just rely

680
00:29:45,680 --> 00:29:46,880
Speaker 2: on Amazon for your shopping.

681
00:29:47,000 --> 00:29:50,440
Speaker 1: That's true, honestly, guilty as charge, because like I think

682
00:29:50,680 --> 00:29:53,320
Speaker 1: that's just our default. Like literally this morning, I purchased

683
00:29:53,320 --> 00:29:56,840
Speaker 1: some air filters and it's so easy to look back

684
00:29:56,880 --> 00:29:59,360
Speaker 1: at the previous order. You should have done it from Costco. Buddy,

685
00:29:59,360 --> 00:30:01,040
Speaker 1: I saw that there were that they were there, but

686
00:30:01,480 --> 00:30:03,720
Speaker 1: I never have the size. What I should do is

687
00:30:03,760 --> 00:30:06,440
Speaker 1: put my sizes on my phone. That way I've always

688
00:30:06,440 --> 00:30:08,600
Speaker 1: got it. I put other stuff on my phone. Yeah, like,

689
00:30:08,640 --> 00:30:11,120
Speaker 1: for instance, the price of beef. Like anytime I go

690
00:30:11,160 --> 00:30:13,680
Speaker 1: into Costco, I'm always walking by the stakes looking at

691
00:30:13,680 --> 00:30:16,400
Speaker 1: the ribbuys and you're monitoring that. Yeah. Ok, I've got

692
00:30:16,440 --> 00:30:18,480
Speaker 1: a note in my notes app and it's called to

693
00:30:18,560 --> 00:30:22,760
Speaker 1: consume What have you seen? What have you seen? Okay,

694
00:30:22,760 --> 00:30:25,920
Speaker 1: So beef prices are up ten to thirteen percent year

695
00:30:25,960 --> 00:30:29,080
Speaker 1: over year, and that's not because that's something I've kept

696
00:30:29,080 --> 00:30:31,120
Speaker 1: track of. That's something I saw on the news as well,

697
00:30:31,280 --> 00:30:34,520
Speaker 1: but it's been in my notes app though it's been

698
00:30:34,760 --> 00:30:36,840
Speaker 1: what three years, I think since I've been able to

699
00:30:36,880 --> 00:30:40,160
Speaker 1: snag a prime ribbi at fifteen dollars a pound. Yeah,

700
00:30:40,760 --> 00:30:43,240
Speaker 1: that's just not where prices are. And in part it's

701
00:30:43,280 --> 00:30:47,160
Speaker 1: evidently due to high expenses due to the cost of

702
00:30:47,200 --> 00:30:49,520
Speaker 1: feed evidently has gone through the roof as well, so

703
00:30:49,560 --> 00:30:51,720
Speaker 1: beef prices. While other prices have gone down, we've seen

704
00:30:51,760 --> 00:30:55,080
Speaker 1: inflation cool, so beef prices are still sky high.

705
00:30:55,160 --> 00:30:58,440
Speaker 2: Makes me think about our conversation back in the day

706
00:30:58,440 --> 00:31:01,920
Speaker 2: with Frankie Solenza, who like struggle meals, right, he's all

707
00:31:01,920 --> 00:31:05,640
Speaker 2: about super struggle tasty meals, and he talks about he

708
00:31:05,640 --> 00:31:08,000
Speaker 2: talked about using meat more as like a garnish in

709
00:31:08,040 --> 00:31:08,600
Speaker 2: your dishes.

710
00:31:08,800 --> 00:31:11,320
Speaker 1: Oh that's that was that's Kate's line. That's that's our line.

711
00:31:11,440 --> 00:31:13,000
Speaker 1: Is that your rank? He didn't say that, he's told

712
00:31:13,000 --> 00:31:15,240
Speaker 1: it from you. He did, Okay, Well, I don't know.

713
00:31:15,320 --> 00:31:17,400
Speaker 1: Maybe maybe he said it. He can say it too.

714
00:31:17,720 --> 00:31:20,160
Speaker 1: But he's the one that's got the cooking show. Yes, sure, yeah,

715
00:31:20,440 --> 00:31:23,320
Speaker 1: nobody's listening to I swear, I mean listeners. If you

716
00:31:23,320 --> 00:31:26,240
Speaker 1: remember the episode when we first started uh poor not poor,

717
00:31:26,440 --> 00:31:28,280
Speaker 1: before we change it to how to Money, I'm pretty

718
00:31:28,360 --> 00:31:31,120
Speaker 1: I think I remember literally us talking about slashing your

719
00:31:31,160 --> 00:31:35,240
Speaker 1: grocery budget. Yeah, episode seventeen or something, especially when beef prices.

720
00:31:35,280 --> 00:31:37,400
Speaker 1: That's how we treated meat though as a garnish. Yeah,

721
00:31:37,440 --> 00:31:39,040
Speaker 1: like a little it was almost like, you know, like

722
00:31:39,080 --> 00:31:40,959
Speaker 1: bacon on a wedge salad. That's how we did all

723
00:31:41,000 --> 00:31:44,080
Speaker 1: of our meat. Well, getting steaks is the main feature

724
00:31:44,240 --> 00:31:47,000
Speaker 1: now at your meal. Yeah, granted it's probably still cheaper

725
00:31:47,000 --> 00:31:49,280
Speaker 1: than eating out, but it's it's going to be so expensive,

726
00:31:49,280 --> 00:31:51,320
Speaker 1: so much so it's got to be like few and

727
00:31:51,320 --> 00:31:55,080
Speaker 1: far between, and changing your shopping habits and saying, I

728
00:31:55,120 --> 00:31:56,760
Speaker 1: guess we're I guess we're more of a chicken family

729
00:31:56,880 --> 00:32:00,720
Speaker 1: right now. That might be a good move. I will say, Okay,

730
00:32:00,720 --> 00:32:04,880
Speaker 1: what Frankie did say. I do remember him specifically saying that, hey, Joel,

731
00:32:04,920 --> 00:32:07,800
Speaker 1: don't you know that broccoli has got more protein than

732
00:32:08,720 --> 00:32:11,800
Speaker 1: Ribbi's than beef does. And in the moment we were

733
00:32:11,840 --> 00:32:14,800
Speaker 1: like really, He's like, oh yeah, he's like those cruciferous vegetables.

734
00:32:14,800 --> 00:32:17,280
Speaker 1: I was like, no way, But in fact what it

735
00:32:17,400 --> 00:32:21,600
Speaker 1: was was it broccoli has more protein per calorie than

736
00:32:21,920 --> 00:32:24,920
Speaker 1: beef does per calorie, and so sure it's got to

737
00:32:24,920 --> 00:32:26,960
Speaker 1: get it's got a decent amount of prosy, but you

738
00:32:26,960 --> 00:32:28,760
Speaker 1: you also have to eat like thirty pounds of broccoli

739
00:32:28,800 --> 00:32:30,840
Speaker 1: in order to get the same amount of wheat protein

740
00:32:30,880 --> 00:32:33,520
Speaker 1: and like two pounds of stakers you told me recently,

741
00:32:33,520 --> 00:32:36,000
Speaker 1: and I wouldn't have guessed this that chicken has more

742
00:32:36,040 --> 00:32:39,560
Speaker 1: protein than chicken breast stake. Yeah. Yeah, so I think

743
00:32:39,600 --> 00:32:40,280
Speaker 1: that's pronounced.

744
00:32:40,280 --> 00:32:41,920
Speaker 2: For those of you crossfitters out there trying to get

745
00:32:41,960 --> 00:32:44,480
Speaker 2: your protein in, hey man, chickens cheaper and you're gonna

746
00:32:44,480 --> 00:32:46,040
Speaker 2: get more more of that protein you move to improve.

747
00:32:46,040 --> 00:32:48,560
Speaker 1: All the folks out there who are looking to uh optimizer,

748
00:32:48,600 --> 00:32:51,080
Speaker 1: I mean, all the Huberman, all the Peter Rittia listeners

749
00:32:51,080 --> 00:32:52,960
Speaker 1: out there, they know it's up when it comes to protein. Yeah,

750
00:32:53,000 --> 00:32:53,640
Speaker 1: they do are.

751
00:32:53,720 --> 00:32:57,160
Speaker 2: Let's talk credit cards. So the new Chase Sapphire Reserve

752
00:32:57,200 --> 00:32:59,800
Speaker 2: went live at the end of June, and it comes

753
00:32:59,800 --> 00:33:01,680
Speaker 2: to a much higher annual fee than it did before.

754
00:33:01,720 --> 00:33:03,240
Speaker 2: So I'm sure, Matt, a lot of how to money

755
00:33:03,240 --> 00:33:06,800
Speaker 2: listeners are like, this, is this credit card still worth it?

756
00:33:06,840 --> 00:33:09,920
Speaker 2: What are the changes that got made? Well, Chase is

757
00:33:09,960 --> 00:33:13,040
Speaker 2: thinking that customers are gonna willingly pay seven hundred and

758
00:33:13,080 --> 00:33:15,000
Speaker 2: ninety five dollars a year to have this credit card.

759
00:33:15,200 --> 00:33:18,680
Speaker 2: The annual fee, it's more than the Amex Platinum, which

760
00:33:18,760 --> 00:33:20,760
Speaker 2: is also set to get in overhaul, I think, but

761
00:33:20,880 --> 00:33:24,560
Speaker 2: the perks can potentially add up for savvy users. Some

762
00:33:24,600 --> 00:33:26,920
Speaker 2: of the major selling points points are A three hundred

763
00:33:26,960 --> 00:33:30,200
Speaker 2: dollars annual travel credit, one hundred and twenty dollars credit

764
00:33:30,280 --> 00:33:32,640
Speaker 2: for TSA pre check, and up to five hundred dollars

765
00:33:32,680 --> 00:33:37,040
Speaker 2: in credit towards high end hotel stays. But maybes, I Matt,

766
00:33:37,200 --> 00:33:40,240
Speaker 2: I'm I'm less keen on these credit cards.

767
00:33:40,280 --> 00:33:44,320
Speaker 1: Now. You want to tell us about the City New City.

768
00:33:44,120 --> 00:33:46,400
Speaker 2: Card and Strata elites, and then maybe we'll give like

769
00:33:46,480 --> 00:33:48,400
Speaker 2: our diagnosis of what's happening in the high end credit

770
00:33:48,440 --> 00:33:48,760
Speaker 2: card space.

771
00:33:48,760 --> 00:33:50,840
Speaker 1: Well, here's the thing. I'm not even gonna share specific details,

772
00:33:50,880 --> 00:33:53,000
Speaker 1: because I feel the way that some of these nicer

773
00:33:53,040 --> 00:33:55,920
Speaker 1: credit cards are going. They are reminding me of those

774
00:33:55,960 --> 00:33:58,200
Speaker 1: coupon books that you could buy for twenty bucks back

775
00:33:58,200 --> 00:34:00,480
Speaker 1: when you're in like middle school, the blue Ones entertainment

776
00:34:00,480 --> 00:34:03,400
Speaker 1: on the front where they were they blue Crown. You

777
00:34:03,440 --> 00:34:06,200
Speaker 1: could completely save a ton of money by buying those

778
00:34:06,240 --> 00:34:07,960
Speaker 1: back in the day. But a lot of folks what

779
00:34:08,040 --> 00:34:09,799
Speaker 1: did they do? They just let them linger and they're

780
00:34:09,840 --> 00:34:12,600
Speaker 1: junk drawer and oh there's an expiration date.

781
00:34:12,680 --> 00:34:12,960
Speaker 2: I oh no.

782
00:34:13,480 --> 00:34:15,520
Speaker 1: The downside of the coupon buk model is that it

783
00:34:15,600 --> 00:34:18,959
Speaker 1: often incentivizes you to spend more than you otherwise would.

784
00:34:19,640 --> 00:34:22,560
Speaker 1: So you've got the same model here, but the stakes

785
00:34:22,560 --> 00:34:25,400
Speaker 1: are so much higher with these incredibly fancy credit cards

786
00:34:25,400 --> 00:34:28,279
Speaker 1: that have these insane annual fees. And sure, for the

787
00:34:28,320 --> 00:34:30,759
Speaker 1: right person, right like, I think this could be a

788
00:34:30,800 --> 00:34:33,560
Speaker 1: no brainer if you're going to optimize to the nth degree.

789
00:34:33,560 --> 00:34:36,279
Speaker 1: But I think for the average person, especially if you're

790
00:34:36,320 --> 00:34:38,040
Speaker 1: kind of on the fence about this, this is a

791
00:34:38,080 --> 00:34:41,000
Speaker 1: hard pass. So I would simply recommend just going to

792
00:34:41,080 --> 00:34:43,600
Speaker 1: something basic like the City Double. You know, forget the

793
00:34:44,480 --> 00:34:46,719
Speaker 1: City Strata Elite. Go with the City Double Cash card.

794
00:34:46,840 --> 00:34:49,880
Speaker 1: That's the card that we're using very regularly. Because was

795
00:34:49,880 --> 00:34:52,680
Speaker 1: it lot sometime last year that we talked about I

796
00:34:52,680 --> 00:34:55,920
Speaker 1: think for years we'd been using the Amex Blue Cash Preferred,

797
00:34:56,239 --> 00:34:58,080
Speaker 1: and I was like, wait a minute. They cap the

798
00:34:59,280 --> 00:35:01,319
Speaker 1: six percent CA back on the groceries at a certain

799
00:35:01,320 --> 00:35:04,359
Speaker 1: amount per year, and I realized, may we're we've got

800
00:35:04,400 --> 00:35:06,120
Speaker 1: a family of six, we might I think we're hitting

801
00:35:06,120 --> 00:35:08,480
Speaker 1: that like halfway through the year, and I was blindly

802
00:35:08,560 --> 00:35:12,480
Speaker 1: still putting my grocery charges, obviously my non costco grocery

803
00:35:12,520 --> 00:35:16,440
Speaker 1: charges on that card, still earning one percent. I felt duped.

804
00:35:17,400 --> 00:35:20,240
Speaker 1: So because the details matter, they do, and so because

805
00:35:20,239 --> 00:35:21,840
Speaker 1: of that earlier this year, I was like, I'm going

806
00:35:21,920 --> 00:35:24,760
Speaker 1: to make sure that old AMEX they don't take advantage

807
00:35:24,800 --> 00:35:27,640
Speaker 1: of me. They you know, I'm a profit center for them.

808
00:35:28,680 --> 00:35:33,240
Speaker 1: Not really, but we stopped using the blue cash preferred

809
00:35:33,520 --> 00:35:35,600
Speaker 1: about halfway through the year, and now all of our

810
00:35:35,680 --> 00:35:37,960
Speaker 1: food charges are going on to the double cash car

811
00:35:38,200 --> 00:35:40,520
Speaker 1: to get that solid two percent back at the very least. Well,

812
00:35:40,560 --> 00:35:42,319
Speaker 1: and yeah, like they gotta be smart about it. That's

813
00:35:42,400 --> 00:35:46,760
Speaker 1: details in some of these cards are really like really interesting.

814
00:35:46,840 --> 00:35:48,280
Speaker 1: So for instance, yeah, you'll.

815
00:35:48,160 --> 00:35:50,560
Speaker 2: Get a credit for staying at certain hotels, but that

816
00:35:50,600 --> 00:35:53,040
Speaker 2: credit is broken up into two different times of year

817
00:35:53,200 --> 00:35:54,120
Speaker 2: like January through.

818
00:35:54,120 --> 00:35:57,399
Speaker 1: June and oops, yeah and then too many hoops for me, dude.

819
00:35:57,400 --> 00:35:59,640
Speaker 2: And guess what the credit comes if you book a

820
00:35:59,680 --> 00:36:02,480
Speaker 2: hotel well and essentially some of the most expensive hotel

821
00:36:02,560 --> 00:36:04,600
Speaker 2: chains in existence. So you have to be like a

822
00:36:04,680 --> 00:36:06,520
Speaker 2: high flyer. I think if you got to be a baller,

823
00:36:06,600 --> 00:36:09,520
Speaker 2: I think if some of these cards actually less as

824
00:36:09,600 --> 00:36:13,680
Speaker 2: travel cards now and more as like big city six

825
00:36:13,760 --> 00:36:16,040
Speaker 2: figure dink sort of credit cards.

826
00:36:15,920 --> 00:36:18,319
Speaker 1: Right like Bagatti, sure get you get you to these

827
00:36:18,320 --> 00:36:20,719
Speaker 1: fancy cards, right, it's like the same same classes.

828
00:36:20,360 --> 00:36:21,920
Speaker 2: Because you're probably the kind of person who's going to

829
00:36:22,040 --> 00:36:25,960
Speaker 2: use stub Hub regularly, Apple TV, Peloton Like these are

830
00:36:26,120 --> 00:36:29,080
Speaker 2: less travel and more like, hey, do you buy into

831
00:36:29,640 --> 00:36:34,040
Speaker 2: and do business with fancy fancy companies like Apple and Peloton?

832
00:36:34,160 --> 00:36:36,000
Speaker 2: You know on the leg you're going to get a

833
00:36:36,000 --> 00:36:38,600
Speaker 2: credit for that, but you got to make sure that Like,

834
00:36:38,960 --> 00:36:41,080
Speaker 2: I think these also the one of the problems. It

835
00:36:41,160 --> 00:36:43,359
Speaker 2: just incentivizes you to spend, just like those cup books.

836
00:36:43,360 --> 00:36:45,279
Speaker 2: It's like you save more when you spend more. And

837
00:36:45,360 --> 00:36:47,239
Speaker 2: so the only way you're going to get value from

838
00:36:47,239 --> 00:36:49,040
Speaker 2: the twenty dollars book is if you cut out at

839
00:36:49,120 --> 00:36:51,759
Speaker 2: least ten q pons. Like the goal is to maximize

840
00:36:51,800 --> 00:36:54,239
Speaker 2: your savings, but how do you maximize your savings by

841
00:36:54,280 --> 00:36:57,000
Speaker 2: spending more money? And so I think these credit cards

842
00:36:57,040 --> 00:36:59,640
Speaker 2: could incentivize a lot of people to spend more, sign

843
00:36:59,719 --> 00:37:01,680
Speaker 2: up for services they otherwise wouldn't have signed up for

844
00:37:01,800 --> 00:37:04,759
Speaker 2: in an effort to save money and justify the annual fee.

845
00:37:04,920 --> 00:37:06,799
Speaker 2: I'm not saying they don't make sense for anyone. I'm

846
00:37:06,840 --> 00:37:09,120
Speaker 2: just saying for a lot of people, they're probably out

847
00:37:09,120 --> 00:37:11,120
Speaker 2: of each and they really don't spend in a way

848
00:37:11,120 --> 00:37:12,520
Speaker 2: that these credit cards will make much sense.

849
00:37:12,600 --> 00:37:16,200
Speaker 1: Totally agree, all Right, let's call it before we wrap.

850
00:37:16,280 --> 00:37:19,360
Speaker 1: We've got a newsletter referral. Shout out to Megan H,

851
00:37:19,560 --> 00:37:25,480
Speaker 1: Chelsea K. E dub Maggie H. And Malgic and Nolan S.

852
00:37:25,800 --> 00:37:28,319
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853
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Speaker 1: fans of the how to Money newsletter, and you forwarded

854
00:37:32,600 --> 00:37:35,400
Speaker 1: the newsletter to some of your friends, so we appreciate you.

855
00:37:35,680 --> 00:37:37,440
Speaker 1: Thanks for trending the word. Yeah yeah, if you want

856
00:37:37,480 --> 00:37:40,600
Speaker 1: to sign up. If you are not a subscriber to

857
00:37:40,640 --> 00:37:42,200
Speaker 1: the how to Money newsletter, head over to how to

858
00:37:42,280 --> 00:37:45,680
Speaker 1: money dot com forward slash newsletter. They drop every Tuesday.

859
00:37:45,680 --> 00:37:49,880
Speaker 1: In are chock full of more personal finance goodness. Is

860
00:37:49,880 --> 00:37:51,640
Speaker 1: that agel? That's it all right. We hope everyone has

861
00:37:51,640 --> 00:37:53,880
Speaker 1: a fantastic weekend. We'll see you back here with a

862
00:37:54,000 --> 00:37:57,200
Speaker 1: fresh ass kind of money episode. We'll see here on Monday.

863
00:37:57,280 --> 00:38:11,719
Speaker 1: Until next time, Best friends Out, Best Friends Out.