00:00:00
Speaker 1: Welcome to Head of Money. I'm Joel and I am Matt, and today.

00:00:04
Speaker 2: We're answering your listener questions.

00:00:25
Speaker 1: That's right, buddy, we are answering some of the most pressing questions that these listeners at least have for us pertaining to their finances. But a listener he's wondering what we should do about the credit card fees that a lot of businesses are incurring that they are not only absorbing, but sometimes passing along to us. Another listener is asking a question about investing, but specifically we're going to talk about the difference between just auto transfers versus automatic investing. And then we've got another and he is wondering how he can keep a bill that is currently collections from impacting his credit reports. We're going to talk about that. We've got a frugal er cheap as well. We've got a lot of great topics to discuss today.

00:01:08
Speaker 2: And the credit score is so important, right we talk about here all the time. It is one of those personal finance building blocks. Some people might say, you don't need a credit credit score, but in modern society you do. You got to play the game. We'll talk about that in just a bit.

00:01:20
Speaker 1: It signifies something about you. I don't know. Is it like your blood pressure. Maybe it's like the equivalent of or maybe your weight or something like that.

00:01:26
Speaker 2: I don't know, BMI, I don't know. Yeah, says something along with lines. Well, before we get to that health professionals. I saw something the other day and it made me think, wait a second, I've seen this before, and it was an Airbnb star rating guide. And so certain Airbnb hosts are apparently saying they're posting these on the fridge or something when you.

00:01:44
Speaker 1: Stay there, so at the Airbnb, at the AIRBBB.

00:01:46
Speaker 2: And so what they're trying to do is push you in the direction of leaving a five stars.

00:01:52
Speaker 1: You're trying to guide and shepherd you into being like, is it possible to leave seven stars? Right exactly.

00:01:58
Speaker 2: So it's funny because when we stay in Orlando over this past summer, I remember seeing almost this exact same thing on the fridge there and it just made me laugh because I was like, that's just silly. But apparently this is happening all over the place, and so is.

00:02:10
Speaker 1: It silly or is it smart? Because it's kind of a it's an it's a I think It's depends on how much of a sheep you are. I guess it could be an effective strategy to help you as a as a resident to say, Okay, no, I think most people read this and they say that's ridiculous. So when you read so, does it make you push back then and you'd be like, forget you.

00:02:28
Speaker 2: I want to leave a two star reviews. Well, I don't want to do that just to be rude, like just to be a jaff. But if the place sucks and they're covering up for it by these like ridiculous star ratings, then sorry, I'm not necessarily going to leave you a review just because you weren't up to snuff and the place we stayed wasn't really up to snuff in some ways. Right, So but okay, let me remember you.

00:02:47
Speaker 1: Saying that they only had like it was like play settings at the table, but they only had like three sets of silverware.

00:02:52
Speaker 2: Yeah, something like literally had six forks or five forks to a five bedroom house, which is crazy. But okay, the star rating guy, if the five stars said is like perfection doesn't exist, but we were happy. Four stars means several issues need improvement. Three stars means major issues need to be addressed. Two stars means this property should not be listed. Really, if the property should not be listed, If that's your takeaway, it probably shouldn't even be two stars. Sorry, And one star is I left early it was terrible. So yeah, it's again it's just this gentle nudge because reviews are the currency in Airbnb.

00:03:24
Speaker 1: But if you if you.

00:03:25
Speaker 2: Want the good reviews, be a good host, right yeah, And so what's the same thing with us, Like, if we want people to leave five star reviews, give the people helpful information and hopefully something entertaining to go along with it.

00:03:36
Speaker 1: I guess what we're speaking about here.

00:03:38
Speaker 2: That's a plug for people's leave review.

00:03:39
Speaker 1: Now, Well, all you've done, though, is to encourage people to leave a brutally all those reviews. So I think he kind of just did the opposite. All crap. Maybe what you're going for, I mean, what has gone on in our society I think is like what this is speaking to is rating inflation. And you see it as well when it comes to things like uber or lyft, right, like, have you ever seen a well, I guess they pull them right if it's blow four point six or something. Yeah, Like literally everybody has the four point six or higher and it sucks. It's it's rating inflation. And what has happened is instead of having the running the full gamut of between one and five stars, truly, they've condensed it to this tiny little sliver of all right, really, we're only going to operate within this four and a half to five star range because anything beyond that is just absolutely terrible. Yeah, which I hate. I really don't like the fact that we don't like, we no longer have the nuance in the space to be able to fall somewhere within that range and to leave. So yeah, just leave some honesty, Yeah, honest, exactly.

00:04:37
Speaker 2: You know, it makes me think you show up and there's no roof, no toilet, and they're like, but at least give us three stars. You know, That's It's kind of the vibe I get from that stuff.

00:04:45
Speaker 1: Here's the question, then, do you participate in rating inflation or I guess maybe for instance, like on a lyft or an uber, do you ever leave a four or a three or sure forbid two?

00:04:55
Speaker 2: Sometimes but usually I don't know if I've ever left a three on an uber just because I've never had a really bad experience.

00:05:00
Speaker 1: Okay I have.

00:05:01
Speaker 2: Okay, I think maybe one time when my daughter was in the car with me and the guy drove a little crazy, I think I left three.

00:05:06
Speaker 1: But okay, that's what that's exactly like, I'll leave. So for me, dude, my pet peeve is cars that smell terrible. Okay, I mean, like if they smell like weed or something like that, and then on top of that, they've got like eight pine trees hanging from their Dude, it's just overwhelming. And you get out of there and you smell like all of this, I mean it makes me nauseous, like it'll give me a headache. But then speaking to what you were just pointing out, like one time I was with a driver and this driver was cutting people off on the interstate. It's like they were oblivious to all other cars, huh. And I truly felt that my life was at risk. And if you don't leave some honest feedback, and if you were just if it's just an attempt to be nice, they're not gonna know better and they're gonna think, oh, yeah, the way I drive is acceptable, and truly somebody else might actually be bodily injured. And same with the driver.

00:05:55
Speaker 2: Can I just say we have an ability for you to give us feedback here if you think we can do better, how toomoney dot com slash do better. It's literally a web page set up to receive constructive criticism. We know we're not perfect, right, and so if there's something you're like, hey, they really botched this in an episode, or man, they could really do this better, we would love to hear from you. So go there, send us a note because it helps us improve. And you know what, Matt, that's what it's all about. The review should hopefull lead to improvement, right.

00:06:22
Speaker 1: What only is like a two star three star review and they're like, yeah, I just don't like Matt and Joel. That's sort of like if you were to leave a two or three star on an uber and be like, hey, I don't like the color of that car.

00:06:32
Speaker 2: I'm not everybody's cup of tea, you know.

00:06:34
Speaker 1: So I get that, But I think if there is doesn't mean what you're saying is incorrect, or it doesn't mean that you're leading people astray. I feel like that's what a tour's just unlikable.

00:06:42
Speaker 2: Yeah, I just have a terrible personalities, what I mean, which you know I can deal with that. All right, Let's move on. Let's mention the beer we're having on the show today. It's called walk on Water White by Bold Monk Brewing. We'll give our thoughts on this beer at the end of the episode, but we're going to get to listener questions now and you can submit your question for the show that we'd love to take it on the next Askint of Money episode. Just got to have the money dot com slash ask for the simple instructions to record the voiceman on your phone, shoot it over to us via email. And Matt, this first question is a two fer. There's a frugal and cheap and an investing question all up in one.

00:07:16
Speaker 3: Hey, Matt and Joel, this is Joe from Fairfax. I had a question about my fidelity roth Ira figured out how to automatically contribute, but is there a way to automatically have those contributions invested in the funds of my choosing or do I have to log in and make those purchases each time? I also had a frugal or cheap I've had a bad car battery for about nine months now, and I'd say about one in four times I go to start my car, it won't start. But I just haven't replaced it because I have this small battery jump starter that works really quickly, and so I just haven't gotten around to change the battery. I don't know if this can cause any damage to the car or anything like that. I'm just kind of lazy. Thanks a lot.

00:08:03
Speaker 1: Ooh okay, So Joe, do you have one of those one of those like handheld They got a little battery built into it allows you to jump start your car wherever you want.

00:08:11
Speaker 3: I do not.

00:08:11
Speaker 2: It sounds like a smart thing to have on hand.

00:08:13
Speaker 1: I think I should probably get one, especially, I mean, considering we have one car, I don't really have the ability to call up my wife or just be like, hey, can you car battery die to get you know, swing on by. I've got one of the car pumps, one of the tire inflators. Oh those are nice. Those are nice to have for sure. Yeah. Well, although it sounds like this might be a crutch for Joe by the way, this well, yeah, I mean, should we let's go ahead and let's start with that address the yea, let's start by talking about his car.

00:08:37
Speaker 2: I think I would say this is cheap, not proogal. Let's say, fix the battery right, and not because of even the minor annoyance that the Joe's up against each and every week, but because of the potential damage it can have on other components.

00:08:48
Speaker 1: Like they think it can have bigger downstreams.

00:08:51
Speaker 2: I'm not a mechanic, so take this with a grain of salt. This is not car talk. I have no idea what I'm talking about.

00:08:57
Speaker 1: But only we could be clicking? Was it click and clack?

00:09:00
Speaker 3: Right?

00:09:00
Speaker 1: Yeah?

00:09:02
Speaker 2: It was classic show Man. But it's hard for me to tell you exactly what's happening under the hood, like what's if the battery is the bad battery is having you know, other ramifications on other components of the car. But I think this could be a cheap move that could have negative ramifications, and it could leave you stranded right in need of a toad that could cost just as much as the new battery. So think about how expensive a truck, yeah to get towed these days, depending on how far you're going and stuff like that, you could be two hundred dollars plus bill. A battery is definitely less than that for most cars, So I don't know. I think the frugal thing is to is.

00:09:35
Speaker 1: To upgrade the battery well, and then not to mention what if at some point he does get completely stranded and the it's not just the cost that he's incurred by having to have it replaced in an inconvenient location. But just like your transportation is your livelihood, right, the ability to get to work and make money, like if your family is counting on you, and like I want to make sure my our car are ride is totally up to snuff. But Joe, if you maybe if you want to try it and take the more frugal path, next time you pop the hood, check and see if you've got a loose connection. Oh now, this is turning into cars you're diagnosing. So I'm only saying this because I literally had this happen to me. So I'm speaking from personal experience here, but I.

00:10:14
Speaker 2: Can have this too. Sometimes there is corrosion on the battery connect.

00:10:18
Speaker 1: With us US Okay, That's what I'm getting out here. The fact that it's inconsistent. I think this might be a sign that like, depending on the number of potholes Joe's been hitting while he drives, Like sometimes there's enough of a contact for it's actually start up, but at other times I think it's not going to cut it. And so perhaps like maybe whoever installed your last battery was like a high schooler and they didn't just crank down on the battery cable ends enough for there to be a nice contact. And so if that's the case, then you might be able to avoid having to shell all the money for a brand new battery. But that being said, most auto part stores, most mechanics, like even wherever it is you go to get your your oil changed, I feel like they often check your car battery and it says they've got like a little rating there. Well they do it for free. But it's like it's a little print out on the little receipt print out and it's like battery check okay or whatever.

00:11:09
Speaker 2: So well they will check that stuff for free. So go to your advanced Toddle parts or your AutoZone, whatever it's close by, let them check your battery and maybe they'll like say, oh yeah, you can cable connections just bad. But that's something that you can look at as well on your own.

00:11:22
Speaker 1: I will say, if there is corrosion like you mentioned, that can definitely lead to that contact coming loose, but oftentimes like a hard bristle brush to get that stuff like a copper. It really is. Like, but if there is corrosion, a lot of times that's a sign of a bad battery because or other things going on. Yeah, sometimes the battery gets overcharged and that leads to that croach.

00:11:40
Speaker 2: Okay, so maybe we've stepped outside. Maybe we know more about cars than we think that we realize.

00:11:45
Speaker 1: Let's get to the real questions. Talk about it's investing.

00:11:49
Speaker 2: Yes, all right, so there's there's definitely a way, Joe, not only to have that amount automatically contributed to your i RA, but also to purchase more shares of your preferred fund. So I'm glad you asked the question, and we'll link to the page that Fidelity has up on their site which can help you navigate this. But it's really simple actually. You know, basically, instead of just setting up a recurring transfer, you're setting up an automatic investment. So two words, two different things. One is kind of transferring the money in and the other one is automatically investing the money, which is the choice you want to make.

00:12:21
Speaker 1: It might seem similar to your checking account or the money's leading like in your mind, you're thinking, Oh, there goes that money that's about to get invested, but in reality, there's it's not it's just landing. It's not like invested.

00:12:32
Speaker 2: Yeah, it's not doing the thing you wanted to do, right, So, and this helps you avoid a big rookie mistake that a lot of newbie investors make, which is getting money in the account but not actually getting those dollars invested in the appropriate funds. Matt, how many people have we heard, Like I've been sicking money in a roth for years and it turns out it's just sitting in the money market fund, like, it's not.

00:12:50
Speaker 1: Actually getting there in the sweep account buying shares.

00:12:53
Speaker 2: Yeah, in like a total stock market fund or a S and P five hundred fund something like that.

00:12:59
Speaker 1: Yeah, I think Fidelity sweep account or money market account. I think it's called like a cash core account or whatever. But basically it's it's kind of like home base, yeah, for free money before you set it off along its investing journey.

00:13:10
Speaker 2: And most time of money listeners don't really want any money in that particular. You want it invested in funds right exact. And so the longer that happens, the more likely you are to miss out on the larger returns that the stock market offers, missing out on potential years of compounding. So it's really important to make sure you're going the automatic investment route, not just the recurring transfer route.

00:13:29
Speaker 1: Yeah, and specifically with Fidelity, you can set up the auto invest not only for roth IRA but for other accounts. Is what like five twenty nine HSA's brokerage accounts as well. It doesn't it's not necessarily just for roth iras. But I mean that being said, there are there might be some folks and they're thinking, well, it's actually not that bad that money market account. It's the sweep accounts that I've got my with with whatever brokeridge you have it set up with, it's paying more than it used.

00:13:52
Speaker 2: To, better than it's been in a long while.

00:13:54
Speaker 1: But even still, you want to make sure that you are set up with a target date fund or an index fund that's for the entire market, or the S and PF I found five hundred, and I want to call out specifically the Fidelity zero Total Stock Market Fund that it's a f Z ROCKS. But this is a great choice at ROCKS for younger investors who are in the wealth building phase of their life. And the reason is because it literally comes with a zero expense ratio. It's completely free, and those expenses really do add up. They eat into your returns over the years, and most investors, they just don't realize how much of a negative impact that those fees are going to have on that retirement nest egg. You think, oh, it's just.

00:14:36
Speaker 2: It's half a percent, How bad could that be?

00:14:38
Speaker 1: And especially I feel like it's a generational thing too, because as we talk oftentimes with our parents, they're a lot I mean, it used to cost a lot more money to invest. Instead they're thinking, dang back in the day, like I was paying one percent, you're only paying point seven okay, point six point five. That's a deal. I'm proud of you. You're you're doing things right. But it doesn't you can get the cost down even lower than those fees that are closer to one percent.

00:15:04
Speaker 2: Yeah, so we don't want you to pay one percent. We don't want you pay in a half percent. We want you to be paying like a whole lot less than that even, right, and yeah free or one hundredth yeah a percent. Well, and that's what's cool about FC Rocks is that it literally doesn't have any expense ratio, and so all of your money that you invest is going to work for you. I love when when Fideli launchows I was so pumped, and they've done a great job like continuing to keep those around. And if you want to get fancy, let's say an opt for Fidelis S and P five hundred fund instead, which is f x ai.

00:15:32
Speaker 1: X it's I'm investment in that. Actually, are you okay? Through our So we have a solo for one k set up here through how to Money. It's actually poorn Up Poor LLC. That's our true company, true company name. But yeah, that's that's the SMP of one hundred fund that we have access too.

00:15:47
Speaker 2: Well, you're not going to be paying all that much even when you go if you offer that too, right, it's not completely free like FC rocks is, but if the expense ratio is minuscule at point zero one five, so it's still ridiculously cheap. And you know, we recently talked about Fidelity's target date funds and how most folks will probably want to avoid those, not because we don't like target date funds, but for some reason fidelities. Fees on those funds are significantly higher than their peers than Schwab and Vanguard those are they've got really low fees on their target date funds. But Fidelity hasn't followed suits. So while they're great when it comes to the SMP fund and the total Star Market fund that they have really low expens ort siows on, they're not so great at the target date funds. We're talking point seven percent, So that's that's too high in our opinion, and it's ten x what Vanguard and Shraub are charging. So to put it in perspective, were you to fully fund a roth Ira at sixty five hundred dollars every year for the next forty years, you're going to spend more than two hundred and fifty k in fees. If you opted for the target date fund through Fidelity, that is a whole lot more. That's the same than zero in fees if you do the the FC Rocks fund a.

00:16:48
Speaker 1: Quarter million dollars. Yeah, that's it's mind blowing because like that, again, when you look at it year to year, you're thinking, ah, it's not that big of a deal, but the compounding impact of those fees truly do add up. But Joe, We've got additional questions that we're going to get to, including a listener is wondering if she opted for too much term life insurance. We'll get to her question, plus others right after this.

00:17:17
Speaker 2: All right, Matt, we're back. We got more questions to take. Let's get to one from a listener who wants to know about Oh Man, I missed a bill forgot to pay it. Now it's in collections.

00:17:26
Speaker 1: What do I do?

00:17:27
Speaker 4: Hey, Matt Joel, this is Nick from Texas. I'm a veteran and as such I use the VA because most of the care I need isn't really urgent and the copay is low. Unfortunately, there's also really no easy way that I'm aware of, at least to check and see what you owe them at any given time if you lose track, and as a result, one of my bills kind of got away from me and ended up going into collections. Now it's only forty bucks, so I can pay it very easily. But my concern here is my credit score. I've been slowly rebuilding from some pretty bad credit over the last few years, and I've come a long way, but I you still have a way to go, and again, I know it's only forty bucks, but I want to make sure I make the move here that's best for my credit score and report. So is my best move just to pay the forty dollars as soon as possible? Is it to call somebody and dispute something? I'm not really sure what my options are here, let alone what the best choice is, so any insight you guys can give here would be fantastic. Also, on a beer related note, I'm curious what y'all's thoughts are on juicy IPAs. I've noticed you guys tend to like much stronger beers than I do taste wise. I'm kind of a Belgian white slash blonde guy, but I recently stumbled onto a juicy IPA that I really enjoyed and would love to share with you guys. But I also don't want to subject you to a beer that you may not be interested in. So no hard feelings if you're not, But if you are, let me know and I will send you a six pack your way asap. So thank you guys for the constant stream of advice, encouragement, and optimism, and keep up the great work.

00:18:55
Speaker 1: Matt. He didn't mention our stellar car advice too. What do you listen? Is back?

00:19:00
Speaker 2: He will, He'll now know. Uh no, Well, Nick, we appreciate you man, thank you for the kind words, and thank you for your service as well. Oh yeah, and for beer recommendations, we always we're always taking newer beer, Rex doing a lot of great stuff we like. We definitely like juicy ip as. I feel like it's it's probably one of our our favorite beer genres. Yeah beer styles.

00:19:18
Speaker 1: Yeah, well so juicy ip as. Are you talking about hazy like hazey New Englands. Yeah, A lot of times those aren't necessarily referred to as as juicy. I think that's my favorite style of hazy idea for sure. But juice, like the juicy ones that are super trop have.

00:19:32
Speaker 2: All the tropicals a little too perfume me for me at times, like some of the some of the ones that have too many fruit notes going on.

00:19:38
Speaker 1: Yeah, yeah, you don't want it to have you don't want it to taste like mango. I wanted to taste like raw hops. That's what I'm into.

00:19:44
Speaker 2: Straight from New Zealand or yeah, wherever those hops coming from. They make some down Under they have some they have some of the best hops Australian New Zealand hops.

00:19:50
Speaker 1: One of these days, Yeah, on a tour a hop farm. Let's make it happen. You see brewers, whether it's commercials or even on social media, like some of the different craft brewers, and they go and they get to visit the for hot farms, mostly just because I think it's fun. It's not like they're picking out their hops or anything, you know, like you're just doing it to expense the trip. That's that's exactly right.

00:20:08
Speaker 2: They're like cool, I can and also to be able to tell their significant other, Oh well I got to do this for work for.

00:20:13
Speaker 1: Work, Oh sure you do. And it's just like a giant warehouse, you know, just hops on the ground. But it literally looks like you could swim in the hops because it's just there's it's like Screechman dug style.

00:20:23
Speaker 2: That sounds nice. All right, Well, let's move on to nix the the other part of the next question, the main part, and Nick, we're sorry that happening, man, Like it's it's incredibly frustrating to see an errant forty dollars bill slap your credit score around like this, especially man, when you've been super focused on making progress with your score. We talk a lot about credit scores on the show right how to navigate the system in order to increase your score, because it's so impactful in the personal finance realm. But I will also say that doesn't mean that we think that the system is awesome, right, Like, Nope, This kind of crap happens to folks all the time, and even people with the best of intentions can have their credit dinged or damage because has of be an accident or error. So sorry, you fell victim to a system that's just not necessarily set up to help people succeed.

00:21:06
Speaker 1: Yeah, and by the way, I will say thank you for the offer to send its beer and we will reach out to you with our with our maily addressed, we will always accept free beer. But speaking of errors, something like one and four credit reports have an error on them, and so whether or not you know that you've made a mistake, it is actually a good idea to pull your credit report, uh check them for accuracy. And you can do that for free at one single site where you pay nothing annual credit report dot com.

00:21:32
Speaker 2: If someone tries to get you to pay for your credit report to run away.

00:21:35
Speaker 1: Don't do it.

00:21:36
Speaker 2: The credit bureaus would love for you to go to their site and to pay them money to get what you have rightfully and legally, which you're obligated to for free.

00:21:43
Speaker 1: So right and it's it's pay them and it's still something you can do weekly as well it used to do. It's such a change. That's why they called it annual credit report. It was it used to only be once a year from each of the three and so you could schedule it for like do it in what January? Do it? And man and then do it and like I'll take different something like that, just to kind of spread it out if you're wanting to be strategic about it. But you know, you have to worry about it, and I'll just go hog wild with their credit credit for every Monday exactly. And by the way, now it's it's probably a good time to mention too that there's a law called the Fair Debt Collections and Practices Act, and it's got pretty strict rules for debt collectors and about how and when they can contact you. So, for instance, they can only talk to you specifically about your specific debt. They can't like call you at work, talk to your boss and be like, you know what kind of dead beat, no debt paying employee you have.

00:22:38
Speaker 2: There's certain hours of the day there are allowed to contact to you, right If they're calling you outside of those hours, then you can be like scram or if it's not your debt and they're calling you, you can say, don't ever contact me again because this this is not my debt. They have to offer proof that it's your debt before they can contact.

00:22:51
Speaker 1: Like a verbal cease and desist. Yeah. Yeah, but just know your rights push back on them if they're going overboard in their attempt to collect on this debt. Oh, I wanted to mention too. We're kind of talking about the number of errors, just pointing out how crappy these different credit bureaus are. I was Kate and I were at a ed Land United match recently, and of course guess what flashes up there on the giant jumbo like the halo board at the facts at the Mercedes SA Spens Stadium. All the Equifax ads continually splashing up there. And every time I saw that, I just kind of rolled my eyes because I'm thinking to myself that you can't get us to forget how you totally screwed up and lost basically like half of Americans information like the data breach twenty seventeen hundred and fifty million people fifty We will never forget we're impacted. And so they can try to spend and advertise their way out of this, but we're not gonna let you.

00:23:40
Speaker 2: You're not sweethearts. We will never forget. Yeah, No, it's a it's a it's a problem. And like you said, one and four credit reports have errors on them, and so it's not even just that it's that they there continue to be copious amounts of errors, and when individuals reach out to try to get those errors corrected, oftentimes the credit bureau is like covering their ears. La la la, la, la la la, Like what do you talk talking about? Like they're not responding in a timmy man or they're not fixing the errors on credit reports either. All right, but we're also talking about a forty dollars debt here, right, And the key thing that Nick is going for here isn't the ability to reduce how much he owes some folks. They might want to negotiate with the debt collector and in order to settle for a smaller payment amount. But for you, Nick, it would be better to pay the bill in full and negotiate for something else, right, negotiate with the debt collector to keep this bill off your credit report, which which is something you can do. That's because this event will stand your credit report for seven years to come, making it even more difficult for you to raise your score, which is a big goal of yours, right, especially especially for the first year or two. It damages you the most, and so it's going to be harder to make progress. In fact, it's going to feel like you're backsliding a little bit. So make that your key sticking point, right, and don't pay the bill until they agree that payment in full will remin moving that mark on your.

00:24:50
Speaker 1: Credit report too. Yeah, that's right. And so the way that you're able to do this is you basically tell them that yes, you can, in fact pay the debt in full today. I mean, come on, you know it's only forty dollars after all, But you do want written confirmation that they're not gonna report this debt to any of the credit burors. It's up like they don't they have the option to report that it's not something that law requires them to do. And having this written down, so whether it be an email or something that they mail you, this is important because that person can verbally just be like, yeah, sure we can do that. Of course we'll do that for you, mane, and then just not follow through because there are very few incentives for them to actually do that. You want proof, and this is going to be a win win for you and the collections agency because often they're only able to collect pennies on the dollar, right, and so for them getting one hundred percent of what is owed to them, they're gonna love that, like you are going to be this all star person who's in collections. I don't know if there's an a term for that. And then for you, you know, forty bucks, it's a pretty small price to pay in order to just completely scrub that negative mark. And so the collector, they might say that you actually have to talk to the original creditor, but the collection agency should be able to give you their information, give you, like the the right number to call to where you can make that happen, but be honest, like actually call them, explain your situation. Let them don't lie, obviously, but just let them know how hard you've been working, how you've gotten your finances around. It's like my credit score used to be in the dumps. This is really important to me, and I think just by being honest, this should not be a difficult thing for you to accomplish. It's just going to take maybe a few phone calls asking the right questions so that you can make sure that you get a favorable outcome that we want to make sure that that and just moving forward to to just to stay organized. I feel like medical bills are one of those things like you mentioned, it's not just the VA. Just you know, I'm talking from personal experience myself, not being involved in the VA. It's difficult to keep up with the different medical bills and so well, I guess I'm thinking of too, like property taxes, whether it's like insurance or county taxes or city taxes, and sometimes your mortgage company they don't do a great jobs, Like sometimes stuff falls through the crack, and so I keep a document where I have the date the property and the specific tax and when it is that the esco is supposed to pay it. And then so I keep a log where I've got all my data entry, my journal entries, so I know what's going on. I'm able to refer to that. But then I set a reminder on the calendar just to make sure that that is being taken care of as well. So maybe for you, Nick, that's just something moving forward where taking a step towards organization to ensure that you're staying on top of some of these bills might be a way that you're able to avoid this to begin.

00:27:25
Speaker 2: With, Can I pay you to organize my life?

00:27:27
Speaker 1: Matt? That'd be great. That's impressive. No, thank you, no, but for real, mean, it's in my dropbox, so I can access it from my phone, from the laptop, from the iMac and it's called I think it's called a property tax. That's just one that I just recently had looked at, so it's fresh on the mind.

00:27:43
Speaker 2: Yeah, no, that's cool. All right, let's get to our next question. By the way, Nick, good luck. Let us know how it goes. And this one comes from a listener who's wondering if she overdid it on the insurance front, did she get too much?

00:27:55
Speaker 5: Hey, Matt and Joel, this is Mandy from Eugene, Oregon. My husband and I recently rushed out the whole life policies we had in favor of switching over to term life policies. We each had one hundred thousand dollars in coverage on those whole life policies, and now we've taken out a million dollar policy for myself and a seven hundred and fifty thousand dollars policy for my husband. Obviously, this is a huge increase in coverage, but the amount we're paying per month is still significantly less than what we were spending on those whole life policies. My annual salary is one hundred and twenty thousand per year, while my husband makes about sixty thousand per year. We owe about three hundred and ten thousand on our mortgage, and that's really the only notable debt we have. We also don't have any children at this point, but we are starting to talk about our future family. Our broker encouraged us to consider taking out about ten times our annual salary, which is how we landed on those huge numbers. But now I'm thinking we really overdid it. So I'm curious to hear your thoughts. Should term life be based on your outside standing debts or should it be based on some multiplier of your annual income.

00:29:05
Speaker 1: Thanks so much, all right, Maindy, she mentioned the massive increase in coverage that she is now experiencing. That's the beauty of term life insurance.

00:29:14
Speaker 2: Today's a great day to die, you know. I mean, your family's going to be well covered.

00:29:19
Speaker 1: So what I'm saying, of course your husband, Yeah, just kidding. You can get so much coverage for a whole lot less money when you are looking at term life as opposed to whole life. Then the goal is that by the time that those policies expire, right, so after thirty years, you actually no longer need those policies because you've been able to save up a substantial nest egg. A good way to think about these policies is think of them as a bridge that gets you from now when you aren't able to self insure two future years, when you have had enough time to save up that nice retire nest egg, when you are able to self insure, at which point you no longer need these term life.

00:29:53
Speaker 2: So thirty years from now you should be able to do that. They'll be set and you won't have as much of a need for insurance either. Because the eventual children you're planning on having will be grown and hopefully doing their own thing.

00:30:06
Speaker 1: You won't have as much to cover, Yeah, unless you wait fifteen sixteen years right to have kids, in which case, hey, good for you.

00:30:12
Speaker 2: Yeah, but but yeah, then you might need a smaller who knows there's other options out that. Yes, but how much do you need and did you overdo it? That's kind of the heart of your question. The answer is maybe, right, Like, the less debt you have and the more financial assets you've built up means you don't need quite as large of a term policy. That is true that the ten X number is a rule of thumb. It's a helpful one, but it's not perfect, because that's what rule of thumbs are. They are guidance. They're not necessarily specifically applicable to every single person in every situation. Not having kids, having very little debt, it means you could certainly get by with less coverage. But honestly, I wouldn't be too worried about having overdone it. Right, Yeah, those policy amounts seem reasonable giving your incomes and the fact that you're planning on having kids at some point, you probably don't need quite that much. Like, right, here in the immediate right now, But you might also not have saved very much by opting for a slightly smaller coverage amount right, Well, is typically like fifteen bucks a month savings on a thirty year policy for five hundred k versus a million in coverage, And so I don't know, spending that extra fifteen bucks a month knowing for double.

00:31:17
Speaker 1: The coverage right kind of seems like a deal to me.

00:31:19
Speaker 2: Knowing that your coverage needs will increase likely in the future, that seems like a reasonable bet and not a bad decision totally.

00:31:26
Speaker 1: Yeah, Okay, So I was thinking about if she does wait to have kids, like if she waits like fifteen, sixteen, seventeen years or something like that, what do you do then, because they've got that policy now, right, So theyve got the thirty year policy and they're like, well, we're going to have a fourteen year old by the time those policies expire. Well, in that case, you can do what's called laddering sometimes folks call it or layering as well. But this is something you can do whether you are looking to add more time to your coverage or if you think that maybe you have too little coverage because I think that's the boat that a lot of folks find themselves in, is that they're realizing, oh man, we actually we don't have enough.

00:32:01
Speaker 2: Yeah, they took out like a two to fifty K policy when they were twenty nine, and now they're like.

00:32:04
Speaker 1: And it seemed like a ton of money, but in reality they're realizing, oh man, that's not going to get us very far out of all three kids and a mortgage and bloody blah blah blah, and so they need more coverage. Yeah, yeah, so you can always add a Just keep that in mind. You can always add another policy into the mix as your insurance needs change. And sometimes it's not necessarily that the fundamentals have changed, right. It may not necessarily be that you were saying, well, yeah, we used to live in that tiny, little two to one and now we live in that seven seven, seven thousand squ square feet. It doesn't have to be these hard things that say, oh, well, we now need to have more coverage. Sometimes it can just be how it is that you're thinking about it. You might say, okay, well I was assuming I was going to work before, but now, like where that's to happen? I don't think I would want to work. I think maybe I'd want to be a full time stay at home parent to make sure that nothing is falling through the cracks with the kids. That means we're not just losing one income, where we're looking at losing two incomes. And so that could be something that causes you to think, oh, no, okay, shoot, maybe we do actually want to ladder some additional coverage onto that. It doesn't necessarily mean because now you have a country club membership and you've got to be a house or you go on all these fancy vications. Sometimes it can just be more of a piece of mind thing where you say, I just want to make sure that we're completely covered, and I'm willing to pay for that now month to month in order to ensure that we're taken care of.

00:33:21
Speaker 2: And especially when we're talking about, yeah, the price amounts of term life insurance, it's really inexpensive for the kind of coverage you're getting. And so I guess one last thing we should tackle mat is whether or not there's a better way to gauge how much coverage you need, and there are other methods. I think it's worth pointing that out, Like a lot of people do really just go with the knee jerk ten x your annual income. That's kind of how you figure out how much coverage you need. Well, there's also something called the dime method, which is more of an attempt to only secure minimal coverage in the case of an untimely death of a spouse. Right, it's all about covering debts, education, and income until your kids reach the age of eighteen.

00:33:55
Speaker 1: So if you were to use or specifically debts, income, mortgage, mortgage, there's the in there.

00:34:02
Speaker 2: So when you look at Mandy with where she's at with that no current kids, right, and just the mortgage is the only that's the only debt, no other no d in there. So really you're you're talking about, Yeah, given that sort of calculation, she needs a whole lot less.

00:34:18
Speaker 1: She's going with a iin method.

00:34:20
Speaker 2: Yeah, So I think it's I think it's important to mention that there are other ways to calculate it, and especially yeah, if money is tighter. But you're like, we need some coverage, but we can't necessarily afford the Lexus coverage.

00:34:31
Speaker 1: Yet I get that.

00:34:32
Speaker 2: I mean I remember working in radio and it's like, man, then come I knew I needed I knew I needed something above of the workplace plan, but it's also not like I was balling out and ready for the million dollar policy yet. And that's where laddering can come in handy too. It's like, cool, I'll get the two hundred and fifty kight policy for the time being, but maybe five years from now, eight years from now, I can afford to add on the million dollar policy that I know I really need.

00:34:54
Speaker 1: Very nice, that's right, And if you want to really drill down and get specific with it, policy genius. They actually have a really good calculator that you can check out. And of course, you know they obviously want you to buy a policy on their site, but you can use their calculator to just to get a specific idea for how much coverage you should have, regardless of where you actually end up buying your coverage. And even still this, I mean, the calculator there, it's not perfect, but they're going to take into account some of the different other considerations like kids or in the age of your kids, but then your savings, your age, income, things like that. My guess is that actually, if you plug in the numbers, you're actually going to find that the coverage that you chose is actually going to be correct. It's going to be the one that they recommend for you. But you know, again, it's worth taking a look. But it's kind of the thing again, just like you said, Joel, it's I don't think an extra fifteen dollars is going to break the bank for somebody, right, like to potentially get an additional five hundred thousand dollars of coverage. But if you are in a tighter financial position and you need every single dollar to sing, like every dollar needs to shine, then that you can absolutely get more detailed with it. And it's always something that you can add more to later down the road. It's not like a once and one and done kind of approach. You can certainly revisit the seatless question.

00:36:06
Speaker 2: The only risk you're leaving on the table though, is potential adverse health things popping up and that raising your cost of to ensure yourself in the future. And so yeah, if you it could be cheap not frugal, depending right.

00:36:19
Speaker 1: Like if you're like, if cancer comes on the scene, yeah, that kind of like that is obviously certainly going to have an impact. Sure, but as far as the age we've talked about, this before, but getting a little bit like going from thirty five to forty five that actually barely raises the price for you to wait a decade before you decide to get a term life insurance.

00:36:36
Speaker 2: So run the numbers, take a look, but also don't be too worried that you bought too much term life insurance. That's one of those embarrassment of riches sorts of questions, like it's it's not that big of a deal if you're spent an extra fifteen month and you've got a little more coveras than you think you need and you'll probably grow into the.

00:36:48
Speaker 1: Coverage, so well, that's the thing I would keep. It's not like it's not like you got ripped off and it's a like there's a true benefit there. It's just whether or not you think you might need it in the city like where the situation to arise. It's not like, honestly, I would feel differently about this if this was a whole life policy where the broke like whoever it is that you bought the policy from where they stay into benefit because there are other incentives that are held there in front of them.

00:37:10
Speaker 2: But there's their commission goes up commentarally to the amount of policy you buy exactly.

00:37:14
Speaker 1: But in this case, we're talking about a level term policy, and they didn't make any money off of that, and so they were most likely trying to make sure that you were just set for the.

00:37:22
Speaker 2: Future for sure. All Right, well, Matt, we've got one more question to get to. This one's about those pesky credit card fees we've talked about recently on the show. We'll get to that and more right after this.

00:37:40
Speaker 1: We are back from the break in, like you related to Joel, Let's talk about credit cards here for a minute, because everyone knows that we are big proponents of using credit cards. It's one of the personal finance tools that we think folks could really wield in a way that allows them to receive a ton of benefit.

00:37:59
Speaker 2: We have some rules every time, right that we list out specifically, never carry it like that's the number one. That's that's the best rule, pan time, Never carry a balance, never carry time.

00:38:07
Speaker 1: But we are such fans of them that we actually have a tool up on our website at how to money dot com forward slash credit cards that allow you to filter different cards based on the different benefits that you are looking to receive. And so if that's not something that you've checked out yet, because you might be. This might be a way that you are sort of underutilizing credit cards in your life. And you've got the same card that you used maybe that you got while when you were in college.

00:38:30
Speaker 2: Ditch the inferior piece of plastic, get the superior version exactly exactly. So we kind of makes me think of our combo with Lynn Metler about traveling with families for free, And it's like, if you follow some of the things you talked about in that podcast, using the right credit card that can get you a trip right and using the wrong one can get you, you know, like one percent back on your spend. So it just depends on what you want from your credit card usage. But Matt, let's get to the question on credit cards here specifically that we want to get to. This was actually an email question from listener Phil, and we figured it was where sharing because there's probably a lot of other people who wanted.

00:39:02
Speaker 1: Do the same thing.

00:39:03
Speaker 2: He said, I wanted to get your thoughts on credit card processing fees for businesses. A friend of mine who runs a small business mentioned how these fees are stifling to small businesses and how they erode local economy's wealth by sending about two percent to large financial institutions such as Visa and MasterCard, rather than keeping the whole value in the community. Right, So, like, let's say you spent twenty bucks at an auto repair shop, Well, then that twenty bucks can be used for a haircut, and then the same twenty bucks can be used to buy food.

00:39:29
Speaker 1: So forth.

00:39:30
Speaker 2: If the same few transactions are reduced by credit card merchant fees, the local community is reducing their wealth, even though the businesses pay it. If they can, they can either pass along the cost by raising prices or suffer reduced earnings. While you encourage listeners to avoid interests in fees as consumers, shouldn't we avoid using credit cards? I get that it can be more convenient. Should we keep sending large financial institutions money? He said full disclosure. I have not cut up my credit cards.

00:39:55
Speaker 1: Yet, but I think this is like I'm not off the wagon yet. But I think these are all good questions. These are great questions.

00:40:00
Speaker 2: I think these are our questions worth asking. We have talked about the two plus percent fee that visend MasterCard that they pushed through to these businesses, and it's a big cost of doing business for a lot of business, in particular small businesses. It's an onerous it's an onerous burden to bear.

00:40:17
Speaker 1: Sure. Yeah, and again I will say I like that he said that. Yes, it's it's more convenient, man, not as convenient as pulling out the Apple wallet or Google wallet. I have been using that like basically NonStop ever since. I finally, because you just take a picture of the card and it just I didn't realize it was that easy, Like it automaticates me twelve seconds. Yeah, it really does. And I guess the bank has to approve it and whatnot. But well, I guess in Georgia here too, we've got our light driver's license scand in there as well, which is really nice. And so I feel like I barely carry my wallet around with me anymore. But Phil, everything that you're mentioning is essentially true. These transaction, these costs, They've been in the headlines a whole lot more lately, even talking about them a whole lot more. But personally, I think I'm going to likely continue to use credit cards basically until the rewards and the other benefits that they're offering. No longer makes sense to me as an individual. And I say individual because it's not really possible to coordinate sort of collective action. Not that's by you changing how it is that you are choosing to pay that that is in turn going to It's difficult to coordinate that with the millions of other Americans living here.

00:41:29
Speaker 2: And the executive's a P S and Master card, not like Phil cut up his credit cards.

00:41:34
Speaker 1: How are we going to make it? Yeah, they are not batting an eye lab. I mean, I don't know, I don't know how much. Just feels racked. I don't know. Yeah, maybe it feels maybe they will okay. So, like a parallel example that this makes me think of might be the quote unquote free grocery bags that the cashiers back up your groceries, like at the traditional grocery stores. Right, not at Aldi, but at a normal grocery store where you go and it's like paper or plastic. And I say free because it's not really free, right, Like the cost of those bags are accounted for in the cost of the groceries that you can buy there at the grocery store. Now, an individual like perhaps Phil, you can insist on bringing your own bag a lot of folks do this. I think it's great we do the same thing, but it's unlikely to have a material impact on the price of the actual groceries, that is, until the rules of the game change. And so, for instance, at Aldy, the bags aren't free, right like, you've got to pay for them, but by removing that cost at the top, Aldy is able to offer some of the cheapest groceries around. I mean, like in our personal experience, we've seen that we've been able to save thirty percent compared to the standard grocery store. And so in both the grocery bags and the credit card fees examples, an individual can choose to make a principal decision, and I think it's awesome. Three cheers for autonomy and more power to you, Phil, But I don't think it's likely going to make much of a difference on pricing until there's either a change at the top or until there's a competitor who is offering a different option. And some businesses actually are offering that alternate option right like where they're charging cash customers less as a way to pass on some of the savings directly to them. I think it's great that we get to choose, essentially as individuals out is that we want to lead our lives, whether that's based on a principal decision or what pragmatically makes the most sense. But that's what's so beautiful about the country that we live in. We have the option to make these decisions based on what we think is most important.

00:43:29
Speaker 2: And if the business says these credit card fees are eating me alive, they offer cash discounts and they're they're incentivizing you to pay via different method to kind of eliminate some of those fees on their behalf.

00:43:39
Speaker 1: Yep.

00:43:39
Speaker 2: Well, and it's I think the other thing that I wanted to mention for everyone's sake, but for Philled too, is that how much you can read from those credit card rewards. It certainly depends on how much you're spending, but it goes beyond just cash back just one or two percent, or even free flights. Right, the secondary benefits as well as the federal protections that credit cards offer, they push me in the credit card direction too.

00:44:01
Speaker 4: Right.

00:44:01
Speaker 2: We talked about some of that back in episode one forty nine when we compared cash to debit to credit and then in episode six eighty three. We talked about so many of the lesser known benefits as well, like when you used for travel, the unique benefits, yeah, always that. Surprisingly when you travel right, those cash back dollars are worth at least one point five x more. But then there's there's a whole lot more on top of that. There's cell phone insurance that basically you drop and smash your phone, Well, if you pay your cell phone built with the right credit card, you're covered, and you pay a small deductible most of the time, and you get your phone replaced, you're all set. Yeah, And there's return protection for items returned within ninety days. There's free museum passes and concert tickets, perks like that. The secondary perks of credit cards, depending on which one you get, can run the gamut. There's free access to lounges at airports, all that kind of stuff. So don't forget all of those potential benefits of using your credit card, using the right card at the right time. Just keep in mind. A lot of folks though, let the rewards tail wag the dog. They get excited about the prospect of cash back and free lounge access or something like that, and then it causes them to rack up credit card debt that they can't pay off, putting them any worse financial situations. So don't let that happen to you. If you can't handle your credit card responsibily, we want you to put it down. We don't want you to use it at all. It'll end up being a losing proposition, and you'll continue the trend of sending large financial institutions your money rather than you reaching your own financial goals.

00:45:21
Speaker 1: So, which is what is what Phil's train to avoid in the first place, is keeping that wellth local as opposed to sending it to the big corporation.

00:45:29
Speaker 2: Get those that fee that gets assessed by the duopoly that is Visa and MasterCard. Yeah, it annoys me. And there's a new act that we discussed matth that is going through Congress right now, will go anywhere.

00:45:40
Speaker 1: We don't know.

00:45:41
Speaker 2: The credit Card Competition Act, I think, is what it's called. And it's supposed to introduce another player into or create an environment for more competition in that space to hopefully lower fees for merchants. And that would mean produced credit card rewards in all likelihood for all of us. And I'd be okay with that. I would I would be more than okay with that kind of We were talking about credit scores beginning, Matt and how the system is a little raw. It doesn't mean you opt out of the system altogether, and so I wish the system would improve, and I hope that this system improves too, But for the time being, I think you got to kind of play the game as it exists exactly.

00:46:12
Speaker 1: That's that's a nice little summation of how it is that we view credit cards. And because it's it's kind of a kind of a moral gray area as to the different benefits that the cards offer. But the fact is, folks are paying paying for those benefits, right, whether it be through interest charges or through the transaction kind of kees that are incurred by businesses.

00:46:30
Speaker 2: Kind of like you're paying for that grocery bag, even if you don't pay for the grocery bag, right.

00:46:34
Speaker 1: Exactly whether or not you use it or not. But except for you don't pay for it, exactly pay for it, which is I mentioned that because it's that's what's so great is that's an instance where a competitor came in, they changed the rules of the game, and you get to make the decision yourself. As to whether or not this is a convenience that you're going to continue to pay for. But all right, let's share the beer that you and I enjoyed, that we're enjoying right now. This is a walk on water, White Old Monk, and obviously it's a reference to I guess Jesus walking for sure on the water. Yeah.

00:47:05
Speaker 2: No, they're going with the religious Christian references all the way here, which I can totally.

00:47:10
Speaker 1: Was there beer back more like there's wine, certain definitely wine. It wasn't beer back then? Well, I don't know on bo.

00:47:15
Speaker 2: That's a good question, because I think there was it Sam from dogfish Head who dug out some like ancient beer recipes from all over the world.

00:47:24
Speaker 1: That's many coming from like the ancient Egypt. I remember specifically one, but so I think they I think that one was more like a mead because it was like honey, honeybas certainly not like beer today.

00:47:35
Speaker 2: Yes, no, they didn't. They didn't have hazy eye back in back in like Christen, We're not gonna we're not going to criticize you too much, Bold Monk. Yeah, but it's cool.

00:47:43
Speaker 1: So okay, how was this beer? Though?

00:47:46
Speaker 2: It was definitely not white in color. I was expecting a whiter look to this, because when you when you're you're doing a Belgian white, you're expecting to see the color be whiter. Really like, even with the Alegash white, I feel like it is. Is it paler than this? I think, yeah, it even looks more actual white, But like, I don't know, I don't want to hate on that too much, but I dig the taste, but I more amber in color than you're expecting. I feel like it's missing a little something, And I think what it's missing is some of the Belgian spices that I'm used to. So this feels almost more like just a straight up pillsner than it does a Belgian Belgian white to me, Yeah.

00:48:16
Speaker 1: Like you're not picking up on the Belgian yeasts.

00:48:18
Speaker 2: No, I definitely get some of the Belgian yeast, but I don't get some of the Belgian spices there really should be in here.

00:48:24
Speaker 1: I feel like there's certainly more of those spices in like doubles and triples. But I thought, this is like in my mind, that says, just like and now a gosh white, Oh really? Yeah? Since I don't know if that's just because maybe we got to do a taste testis Yeah, dude, you know we were just talking about that because you recently picked up like the fancier coffee at Costco and you brought me over a couple of scoops and so over the weekend and you held up your nose. No, no, hody toy man. I said, please, I would love to Yeah, I want to check that out. I would love to try it without having to buy five pounds of it so I can destroy it. And Kate and I we did a what the coffee kind of sewers call a cupping, and we did the what is it? It's like a single origin Costco being whatever. I will say, it looks much better than any other coffee because all the other ones are just super oily, which I think oftentimes Telly tells you how old they are. Anyway, we compared that to some of the nicer local stuff here, and yeah, Costco failed. I've turned into a coffee snob, my friend. It's why I'm trying to keep blinders on in other areas of my life. Like you're, yeah, I don't know how we're talking about coffee right now, but let's go back to cars. That's all our best at or in this case beer. I thought this was a pretty solid offering by Bold Monk. I felt that it was sort of a brighter Belgian white like it kind of a brighter crisper yes, which I guess kind of goes along with what you're saying. Maybe has fewer now you're coming around a fewer some of those spices, but it totally has the Belgian yeast flavor going on, where you know, I don't know how else to describe it other than a Belgian yeast. Once you you know, once you have a Belgian beer, you know what you're you know what you're tasting.

00:49:56
Speaker 2: They have a very distinct vibe.

00:49:57
Speaker 1: Yeah, but still Bold Monk love what they're offering. It's a solid brewery here in Atlanta. I'm glad you and I got to share this one today. And you can also find our show notes up on the website at howdomoney dot com. There you can find links to some of the different resources that we mentioned, including the credit card tool with a fancy little sliders that allow you to hone in on do you say hone in or home in hone hone Yeah, like you're sharpening a knife, but home like you're like a homing homing pigeon, home homing missile or something. Okay, well the other thing. Either way, you can find that out how to Money dot Com.

00:50:30
Speaker 2: We'll put slash credit card, put a policy genius calculator in there as well.

00:50:33
Speaker 5: You know.

00:50:33
Speaker 2: And by the way, if you want to succumb to review inflation and leave how the Money at five stor review, you can do that too. We would gladly accept it.

00:50:39
Speaker 1: And it does.

00:50:40
Speaker 2: It does help other people find out about the podcast absolutely and hopefully get the personal finance help they need. But Matt, that's going to do it for this episode. Until next time, Best Friends Out, Best Friends Out.

00:51:00
Speaker 1: You don't know, do hope