WEBVTT - Friday Flight - Stellar Staycations, Devilish Destination Fees, & Pay Cut Gut Punch #1122 0:00:00.080 --> 0:00:03.240 Welcome to How the Money. I'm Joel and I am Matt. 0:00:03.360 --> 0:00:08.080 Today we're talking stellar staycations, Devilish destination fees, and pay 0:00:08.119 --> 0:00:08.920 cut gut punch. 0:00:27.880 --> 0:00:29.840 That's right, buddy, this is our Friday flight. We're going 0:00:29.920 --> 0:00:32.720 to talk about the most pressing headlines and how they 0:00:32.960 --> 0:00:36.320 specifically pertain to your wallet, to your money. Should we 0:00:36.360 --> 0:00:38.519 go ahead and kick things off? Oh? Can I say 0:00:38.520 --> 0:00:40.880 one thing? Yeah? I thought you wanted to talk about 0:00:40.960 --> 0:00:42.960 Trump's address. I do. I got to get to that. 0:00:42.960 --> 0:00:45.640 Oh yeah, but okay, just briefly, just because I think 0:00:45.680 --> 0:00:47.440 it leads into something we're going to talk about. But 0:00:48.760 --> 0:00:51.360 you've been wearing Zenny glasses for a long time. Any 0:00:51.400 --> 0:00:54.240 optical dot com something we haven't talked about in a 0:00:54.280 --> 0:00:56.160 long time on the show though. So if anybody's like 0:00:56.360 --> 0:00:58.240 needs a new pair of glasses and how they took. 0:00:58.120 --> 0:01:00.120 Them off, look at them right now. I think I've 0:01:00.160 --> 0:01:02.280 had this pair for like three years. There's a literal 0:01:02.320 --> 0:01:04.479 pair of glass and they probably cost you what twenty 0:01:04.480 --> 0:01:08.160 five dollars or I always get the lens upgrades, okay, 0:01:08.400 --> 0:01:12.240 so that it's less so it's more resistant to oil 0:01:12.840 --> 0:01:15.200 and glare things like that. I don't know if it's 0:01:15.200 --> 0:01:16.920 worth it or not to be honest, but it's probably 0:01:16.959 --> 0:01:19.640 fifty bucks then, right for yeah, I don't know, like 0:01:19.640 --> 0:01:22.000 thirty something. He's like twenty four dollars frames with the upgrades. 0:01:22.040 --> 0:01:24.160 Maybe it's like upper thirties, slow forties stuff like that. 0:01:24.240 --> 0:01:26.600 I mean, I still so I had to get new glass. 0:01:26.800 --> 0:01:29.720 These are premium. That's why my premium vision over here. 0:01:29.760 --> 0:01:32.119 So my daughter needs glasses, as it turns out, don't 0:01:32.120 --> 0:01:34.360 know way yeah, so my middle child, how'd y'all figure 0:01:34.360 --> 0:01:34.560 that out? 0:01:34.760 --> 0:01:36.959 Because she's like the vision's bory, I get headache. 0:01:37.000 --> 0:01:40.559 Sometimes we're like classic classic means you probably really probably 0:01:40.560 --> 0:01:43.920 need some winning smart part to see what was getting 0:01:44.520 --> 0:01:45.839 because don't use chalkboards anymore. 0:01:45.840 --> 0:01:48.800 It's all overhead projectors or the smart boards. Oh my gosh, 0:01:48.800 --> 0:01:51.920 a lot of smart boards. Yeah, and so we so 0:01:51.960 --> 0:01:54.040 we were like, all right, let's go get your eyes tested. 0:01:54.080 --> 0:01:56.440 And it's not like an extreme prescription. It's a small one, 0:01:56.480 --> 0:01:58.640 but it's it's like, all right, okay, we got to 0:01:58.640 --> 0:02:00.840 get you some some glasses and't and Emily's like, well, 0:02:00.920 --> 0:02:03.040 let's look look at Warby Parker ninety five bucks. I'm like, yeah, 0:02:03.040 --> 0:02:05.360 that's that's good. They all look like pretty adulty, all 0:02:05.400 --> 0:02:08.240 the frames though, even the ones for kids. Yeah, you 0:02:08.280 --> 0:02:10.960 look very academic. Yeah, like even as a kid. If 0:02:10.960 --> 0:02:13.480 you have Warby Parkers, it's like, oh, you subscribe to 0:02:13.520 --> 0:02:15.760 the Times, you know, right exactly? 0:02:16.000 --> 0:02:18.880 Are you reading the Water Journal every morning? And Zenny 0:02:19.040 --> 0:02:21.320 just has some cuter kid like frames. Yeah, and they 0:02:22.160 --> 0:02:24.480 are going to even wear Warby Parkers, you know. Yeah, 0:02:24.760 --> 0:02:26.200 I don't want to look at sen you do read 0:02:26.200 --> 0:02:28.000 the Wall Street Journal with her pipe every morning? So 0:02:28.440 --> 0:02:32.360 uh and so yeah, we got four pairs of new glasses. Well, 0:02:32.520 --> 0:02:34.440 because she's gonna loose on by the way, Yeah, you 0:02:34.480 --> 0:02:36.800 got to prepare for that. Well, tell guess how much 0:02:36.840 --> 0:02:38.640 I paid for four pairs of glasses from zennything that 0:02:38.639 --> 0:02:40.440 you got, like the nine dollars pairs, so nine times 0:02:40.480 --> 0:02:42.600 four thirty six, but shipping forty two bucks? Okay, so 0:02:42.639 --> 0:02:45.639 a little more so ninety one dollars oh total all in. 0:02:46.280 --> 0:02:49.240 But you get the super baseline frames. No, you got 0:02:49.600 --> 0:02:52.120 a nice seventeen eighteen dollars frames, the clip on sunglasses 0:02:52.160 --> 0:02:54.359 to add on for a couple of them, which is nice. 0:02:54.440 --> 0:02:56.480 So she's gonna be set for summer, I know, man, 0:02:56.520 --> 0:02:59.239 I know she looks adorable in them. 0:02:59.360 --> 0:03:01.839 I can't wait to see. Yeah, so cute, but it's 0:03:01.880 --> 0:03:02.240 I love it. 0:03:02.280 --> 0:03:04.280 And she's got you know, glasses tour with different outfits 0:03:04.280 --> 0:03:07.639 and then when she loses one to get different colornoid. Yeah, yeah, okay, 0:03:07.880 --> 0:03:10.840 that's super cute. So it just remind her to everyone 0:03:10.880 --> 0:03:14.519 if you need glasses, is any opticle is the way 0:03:14.520 --> 0:03:17.960 to go, Not an ad just super cheap, solid sunglasses 0:03:17.960 --> 0:03:19.960 that arrive at your step and a weeker we can have. 0:03:20.080 --> 0:03:24.280 Yeah, unless you've got a local optometrist who you absolutely 0:03:24.320 --> 0:03:26.160 want to support and they've got some nice frames there 0:03:26.200 --> 0:03:28.280 by by all means do that. What I want to 0:03:28.320 --> 0:03:32.639 see folks do is avoid the in between sort of companies, 0:03:32.720 --> 0:03:35.280 right like where you're paying a fortune for an inferior 0:03:35.360 --> 0:03:38.200 product and it's like, oh, we actually if you throw 0:03:38.280 --> 0:03:40.440 one more pair of frames in there, it's only fifty 0:03:40.480 --> 0:03:43.000 more dollars. You know, by the time you're all sudden done, 0:03:43.080 --> 0:03:45.080 is like four hundred and fifty dollars with the eye 0:03:45.080 --> 0:03:48.160 exam and two oh plus the bonus pair of glasses, 0:03:48.200 --> 0:03:50.120 and you're just like, well, I don't even like any 0:03:50.120 --> 0:03:52.000 of these frames, but you end up getting them anyway. 0:03:52.080 --> 0:03:54.920 It's just amazing. One, how cheap it's gotten so much 0:03:54.960 --> 0:03:57.520 more cost effective. Don't remember going to get glasses when 0:03:57.600 --> 0:04:00.880 I was a kid, uh, with my I had like 0:04:00.920 --> 0:04:04.000 a I very like small, so I just like stop. 0:04:03.720 --> 0:04:05.400 Wearing them because it was a very very small prescription. 0:04:05.440 --> 0:04:07.920 That didn't mean but I've never known you literally they 0:04:07.920 --> 0:04:10.480 were like for reading glasses that I was supposed to there, man, 0:04:10.560 --> 0:04:13.760 it didn't really matter. So I but or going with 0:04:13.800 --> 0:04:17.160 my parents, my dad weres classes and U and just 0:04:17.240 --> 0:04:19.280 how expensive it was, how time consuming it was in 0:04:19.360 --> 0:04:21.120 the day. 0:04:21.640 --> 0:04:23.320 Yeah, and you can even do like the try on, 0:04:23.480 --> 0:04:25.760 you know, the video try on when you're when you're 0:04:25.800 --> 0:04:27.560 on zenies, so you kind of see what. 0:04:27.560 --> 0:04:29.239 You're gonna look like in the glasses. And what's cool 0:04:29.440 --> 0:04:32.080 is once you yeah, like you said, did y' all 0:04:32.120 --> 0:04:34.560 measure using the pupilary distance thing and do all that 0:04:34.600 --> 0:04:36.880 and so here here's what's so great is that you 0:04:37.160 --> 0:04:39.279 are able to keep record of the frames that you 0:04:39.320 --> 0:04:42.559 bought which has the pupillary distance and all the different 0:04:42.640 --> 0:04:46.080 sort of metrics that pertain to that specific set of glasses. 0:04:46.400 --> 0:04:48.560 And then if she gets them, and it's just like, 0:04:48.720 --> 0:04:51.559 oh goodness, they're actually kind of a little bit small 0:04:51.600 --> 0:04:53.840 on her. When you are looking at frames in the future, 0:04:54.040 --> 0:04:56.599 you know that, like, Okay, let's find ones that have 0:04:56.640 --> 0:04:58.359 a I don't know, I'm just kind of making this up, 0:04:58.360 --> 0:05:01.000 but like the peopilary distance of that's bigger by three 0:05:01.120 --> 0:05:03.599 or something like that. So st sixty seven, maybe we're 0:05:03.600 --> 0:05:06.320 looking at seventy seventy one, that kind of thing. So 0:05:06.360 --> 0:05:09.240 you can improve, you can essentially, yeah, kind of reiterate 0:05:09.480 --> 0:05:13.320 or iterate upon the process. So these what I'm saying 0:05:13.400 --> 0:05:15.920 is these will be the worst fitting pair of Zenni's 0:05:16.040 --> 0:05:18.560 and that she will likely ever have. Will dial it 0:05:18.600 --> 0:05:20.359 in more exactly because I found that to be the 0:05:20.360 --> 0:05:22.320 case over the years. This is so the ones I 0:05:22.320 --> 0:05:24.000 have on now are my favorite. But I mean I've 0:05:24.120 --> 0:05:26.360 purchased over, I mean over the years, probably eight or 0:05:26.440 --> 0:05:28.640 nine different pairs yeah, of Zenni's, if I had to guess. 0:05:28.680 --> 0:05:31.159 But yeah, that's cool, man, pretty sweet, and I'm glad 0:05:31.160 --> 0:05:33.200 that that worked out for y'all. Yeah. Oh, and I 0:05:33.200 --> 0:05:34.960 wanted to say, I bet another reason that you got 0:05:34.960 --> 0:05:38.359 four pair was because you pay the same price for shipping. 0:05:38.680 --> 0:05:39.680 Did you notice that, Well. 0:05:39.560 --> 0:05:41.400 Once you got over a certain threshold, I think it 0:05:41.440 --> 0:05:43.520 was eighty nine dollars you qualified for free shipping, and 0:05:43.520 --> 0:05:45.000 so honestly, that was part of it. Was like, all r, 0:05:45.000 --> 0:05:47.320 I'm gonna hit ninety one. Yes, I need to get 0:05:47.320 --> 0:05:50.359 her at least two pairs, probably three. Anyway, just because 0:05:51.080 --> 0:05:54.360 we went through retainers like it was, these are a 0:05:54.400 --> 0:05:56.640 little bunny. These are a little bit bigger and slightly 0:05:56.720 --> 0:05:59.719 less painful. So hopefully she won't accidentally throw it away 0:05:59.760 --> 0:06:02.880 with her right exactly, exactly, All right, let's let's move on. 0:06:02.960 --> 0:06:05.320 Let's mention quickly the speech man. I watched it live 0:06:05.520 --> 0:06:08.240 last night because I was very curious, and I'm like, 0:06:08.279 --> 0:06:08.720 this is going. 0:06:08.680 --> 0:06:10.400 To have a lot of the Trumpian address. 0:06:10.560 --> 0:06:12.320 Yes, it's going to have a lot of impact on 0:06:12.600 --> 0:06:14.960 how we move forward, And it was I was. I 0:06:15.040 --> 0:06:16.480 was assuming that we were going to get some sort 0:06:16.520 --> 0:06:19.760 of breaking news, but it seems like, kind of, hey, 0:06:19.760 --> 0:06:22.520 things are going to continue in the same manner for 0:06:22.560 --> 0:06:23.599 the next two to three weeks. 0:06:23.680 --> 0:06:27.360 You're expecting something flashier. I was, Yeah, I was, And 0:06:27.400 --> 0:06:29.920 I tried to be like, here's here's the new Iranian leader. 0:06:30.160 --> 0:06:33.200 I brought him over myself. It would have been interesting 0:06:33.520 --> 0:06:37.200 that did not happen. Instead, it was perhaps more presidential yeah, 0:06:37.200 --> 0:06:40.520 where he's just there delivering a boring address to the camera. 0:06:40.560 --> 0:06:43.200 Maybe maybe we need more boring politics. 0:06:43.240 --> 0:06:46.000 And you and I were saying before this that it 0:06:46.120 --> 0:06:48.360 was proper to give an address the nation about what's 0:06:48.360 --> 0:06:51.760 going on and what the goals and the timeline and so, 0:06:51.839 --> 0:06:53.800 but I think what this made me think and we 0:06:53.839 --> 0:06:55.719 need to talk about a bunch of things today on 0:06:55.760 --> 0:06:58.840 the show. But summer travel is something that people are like, 0:06:58.880 --> 0:06:59.760 what's that going to look like? 0:06:59.800 --> 0:07:02.640 Now? Oh? Yeah, with energy prices, energy prices, yeah. 0:07:02.560 --> 0:07:06.280 And energy prices after that speech, true, oil prices went up, 0:07:06.360 --> 0:07:08.680 right because people are like, all right, this is going 0:07:08.720 --> 0:07:11.320 to this is not ending tomorrow, This is going to 0:07:11.360 --> 0:07:13.480 continue for at least weeks if not. 0:07:13.640 --> 0:07:16.080 It was kind of baked in the fact that, oh, 0:07:16.120 --> 0:07:17.720 he is going to give an address, because there was 0:07:17.760 --> 0:07:20.760 the talk a few days ago too about things getting 0:07:20.800 --> 0:07:23.240 dialed back essentially, and by him saying, oh, two or 0:07:23.280 --> 0:07:25.400 three more weeks, I think a lot of folks were like, well, shoot, 0:07:25.400 --> 0:07:27.880 that's not what we expecting, along with some serious threats 0:07:28.000 --> 0:07:31.960 of hitting them hard, yes exactly, so yeah, essentially more 0:07:32.000 --> 0:07:32.520 pain to come. 0:07:32.760 --> 0:07:36.240 That's macroeconomic stuff and some political stuff which we try 0:07:36.240 --> 0:07:39.080 to avoid, but like especially with the rising airfares that 0:07:39.080 --> 0:07:42.920 we've talked about recently, Matt, I kind of wish I 0:07:42.920 --> 0:07:48.000 had like bought summer travel tickets, like airplane tickets months 0:07:48.000 --> 0:07:51.280 ago before all this started. But if you're a procrastinator 0:07:51.280 --> 0:07:55.000 and you're finding that like prices right now have made 0:07:55.000 --> 0:07:57.720 those dreams of hopping on a plane less feasible, I 0:07:57.760 --> 0:08:00.680 think one thing that we should be advice we can 0:08:00.720 --> 0:08:03.080 offer Mat is to consider the staycation for at least 0:08:03.080 --> 0:08:05.880 part of you of your summer trip. With that, Yeah, 0:08:06.040 --> 0:08:08.880 it sounds, and it always sounds I think more appealing 0:08:08.960 --> 0:08:12.000 to depart for an exotic location, but it's always important 0:08:12.000 --> 0:08:14.320 to consider the trade offs. You can enjoy your town 0:08:14.480 --> 0:08:16.480 or your city like a tourist, you can save a 0:08:16.480 --> 0:08:18.360 lot of money. At the same time, you get to 0:08:18.520 --> 0:08:21.840 avoid the annoyances of the airport drama, which we've talked 0:08:21.880 --> 0:08:24.000 about here on the show as well, which are getting better, 0:08:24.440 --> 0:08:26.960 and then obviously filling up your gas tank. It's not cheap, 0:08:27.240 --> 0:08:29.560 but it's a lot cheaper than plane tickets right now, 0:08:29.840 --> 0:08:34.480 especially with fuel surcharges becoming more common. I think was 0:08:34.520 --> 0:08:37.840 a Jet Blue that just raised checked bag fees citing 0:08:37.920 --> 0:08:39.800 higher fuel costs, and we're going to see more and 0:08:39.840 --> 0:08:42.600 more of that coming down the pike. And by the way, 0:08:42.640 --> 0:08:44.719 if you're like, I don't know, man, that sounds like 0:08:44.720 --> 0:08:48.680 a lame suggestion, well, studies have actually found that staycations 0:08:48.800 --> 0:08:53.280 with short day trips can restore psychological well being similarly 0:08:53.400 --> 0:08:55.000 to an all out vacation. 0:08:55.640 --> 0:08:58.040 The key I totally believe that, right. I mean, the 0:08:58.120 --> 0:09:01.920 key is to mentally switch off from work to get 0:09:01.920 --> 0:09:05.040 into a different headspace. It means like, don't check your 0:09:05.040 --> 0:09:06.880 work email right while you're gone, whether you're on a 0:09:06.920 --> 0:09:10.840 full fleducation or a staycation. So staycation with the proper mindset, 0:09:11.040 --> 0:09:13.680 I think is when could be a way for people 0:09:13.960 --> 0:09:17.040 to save money and still enjoy their summer. Totally agree. 0:09:17.120 --> 0:09:19.760 And I think that a part of why a staycation 0:09:20.080 --> 0:09:22.280 can be so restorative is because there's just a lot 0:09:22.280 --> 0:09:24.480 of logistics involved when you travel, right, Like, it like 0:09:24.520 --> 0:09:26.880 you aren't kicking back in a place where you are 0:09:26.920 --> 0:09:29.960 familiar that hopefully you know, a lot of people try 0:09:29.960 --> 0:09:33.280 to create a space where you feel relaxed when you 0:09:33.360 --> 0:09:36.440 are at home and instead of enjoying that this thing 0:09:36.480 --> 0:09:38.240 that you've worked towards it' say all right, let's get 0:09:38.240 --> 0:09:40.480 out of here, go somewhere where it's where I don't 0:09:40.480 --> 0:09:43.520 know where anything is. So there's like a there's a 0:09:43.559 --> 0:09:47.440 mental fatigue as opposed to staying home relaxing a little bit. 0:09:47.480 --> 0:09:49.000 And also, I think there's something to be said for 0:09:49.280 --> 0:09:51.040 a lot of folks you've got that sort of frenetic 0:09:51.320 --> 0:09:54.680 work energy, and even just transferring that a little bit 0:09:55.000 --> 0:09:57.520 when you're enjoying your staycation at home here and there 0:09:57.960 --> 0:10:00.520 can allow you to feel better a about being a 0:10:00.559 --> 0:10:02.680 help Like I'm thinking about like, oh, there's a stack 0:10:02.720 --> 0:10:05.360 of bills or things, things I need a file or 0:10:05.440 --> 0:10:09.600 look into. Uh, organizing your clothes a little bit, you're like, oh, 0:10:10.000 --> 0:10:12.000 I don't know all the winter clothes. They're they're still 0:10:12.040 --> 0:10:14.400 kind of on the show. I'm pulling things out of 0:10:14.400 --> 0:10:17.880 the summer bend piecemeal. Just things like that where you 0:10:17.920 --> 0:10:19.600 finally feel like you can get on top of some 0:10:19.679 --> 0:10:21.880 of those things and then all of a sudden your 0:10:21.960 --> 0:10:25.240 home it's even more relaxing, And I think there's there's 0:10:25.280 --> 0:10:28.000 a sort of mental benefit that comes from that as well. 0:10:28.040 --> 0:10:30.880 And how many parents have you talked to who come 0:10:30.920 --> 0:10:32.679 back from the vacation and they're like, I need a 0:10:32.720 --> 0:10:37.200 vacation from the vacation. I think actually maybe creates more 0:10:37.240 --> 0:10:42.240 of a true vacation reality, even though it's like boring, Yeah, 0:10:42.800 --> 0:10:44.480 it sucks. It's like, well, we didn't go to Hawaii 0:10:44.520 --> 0:10:47.440 this year, man, But I do think that that. I mean, 0:10:47.480 --> 0:10:50.200 it makes me think of our our sabbatical this past summer, 0:10:50.520 --> 0:10:54.920 and man, I was shocked at how the staycation was 0:10:55.160 --> 0:10:57.880 just as good, if not better than some of our travels. 0:10:57.920 --> 0:11:00.560 And we had awesome ye travels, but there was something 0:11:00.640 --> 0:11:02.840 really special about being at home but not working. 0:11:02.960 --> 0:11:04.760 I totally agree. Might you know something like it like 0:11:04.760 --> 0:11:07.400 that again this summer as well? I will say, if 0:11:07.440 --> 0:11:09.800 folks do want to get out of town, it's always 0:11:09.840 --> 0:11:13.439 a good idea to let the deal influence your itinerary. 0:11:13.640 --> 0:11:16.480 So Google flights Explore feature is an awesome way to 0:11:16.520 --> 0:11:19.439 search because you're looking for the best deals around the globe. 0:11:19.720 --> 0:11:23.960 You're not just looking for very minor price adjustments to 0:11:24.160 --> 0:11:27.400 your specific particular city that you want to visit within 0:11:27.520 --> 0:11:31.199 like a very short window of time. Right, So if 0:11:31.240 --> 0:11:33.800 you can be flexible on your dates and your destination, 0:11:34.280 --> 0:11:37.200 there are some huge ways to still save in a 0:11:37.280 --> 0:11:39.200 large way when it comes to money, des by what 0:11:39.240 --> 0:11:42.560 the headlines say regarding the cost and the price of travel. 0:11:42.600 --> 0:11:46.920 My kids were asking about airfare prices last night. They 0:11:46.920 --> 0:11:48.600 were like, so, what if you booked the day before? 0:11:48.640 --> 0:11:50.600 I was like, it's really expensive. They were like, what 0:11:50.640 --> 0:11:52.400 if you book three years in advance? And I was like, well, 0:11:52.440 --> 0:11:54.840 you can't actually do that. They're like, well, that's also 0:11:54.960 --> 0:11:57.720 very expensive. Well they don't even have the tickets listen 0:11:57.760 --> 0:11:59.920 for a sail yet. Okay, but what if you book 0:12:00.080 --> 0:12:02.000 like nine months in advance? So I'm like, that's actually 0:12:02.000 --> 0:12:03.480 really expensive too. And they're like, then when are you 0:12:03.480 --> 0:12:06.480 supposed to book trammel? And I'm like, well usually months 0:12:06.520 --> 0:12:08.040 two to three months three. 0:12:07.880 --> 0:12:10.840 For international, right, Yeah, it just depends. So yeah, keep 0:12:10.960 --> 0:12:14.440 keep looking. And I agree Google explore is great. Speaking 0:12:14.640 --> 0:12:20.360 of the headlines, though, Matt recession predictions arising. The Free 0:12:20.360 --> 0:12:24.320 Press recently published an article titled brace Yourselves, a recession 0:12:24.360 --> 0:12:26.240 is coming. I guess that's based on is that a 0:12:26.240 --> 0:12:29.760 lord of the rings? Beam to brace yourselves? Brace yourselves? 0:12:29.880 --> 0:12:33.359 Is that a lord of the rings? I'm sure maybe. 0:12:33.640 --> 0:12:35.520 I don't think it's necessarily lord of the rings? All Right, 0:12:35.920 --> 0:12:38.080 you've read that more recently than I have, so I 0:12:38.080 --> 0:12:42.960 think it's from the movie Defer. Okay, well, speaking of classic, 0:12:43.400 --> 0:12:46.199 it's not really classic. We shouldn't talk about Harry Potter, 0:12:46.360 --> 0:12:50.000 but the new Harry Potter series looks good. I'm on board. 0:12:50.080 --> 0:12:52.679 Yeah anyway, same, yeah, okay, So this makes me think 0:12:52.720 --> 0:12:55.960 though about the Bloomberg headline from twenty twenty two. Do 0:12:55.960 --> 0:12:59.480 you remember that one that forecast a chance of recession? 0:12:59.520 --> 0:13:01.880 I wasn't just it was everybody like all that. It 0:13:01.920 --> 0:13:06.040 was like all the banks were like yep, across the board. 0:13:06.160 --> 0:13:08.680 Everybody was saying that there was a recession, leaving room 0:13:08.760 --> 0:13:10.880 for the possibility of there not being recession. But Bloomberg 0:13:10.920 --> 0:13:12.440 went all the way in said one hundred percent. I remember, 0:13:12.480 --> 0:13:14.440 like Jamie Diamond was making comments and it was like 0:13:14.640 --> 0:13:16.800 everybody they were extreme, but at least they weren't like 0:13:16.960 --> 0:13:18.959 it's an evil Bloomberg. The only one Bloomberg was the 0:13:19.000 --> 0:13:22.520 one one hundred percent, and of course they were wrong. 0:13:22.600 --> 0:13:27.680 And then even say ninety nine exactly like man, that's 0:13:27.960 --> 0:13:31.360 you know, the one scenario we could not have thought 0:13:31.400 --> 0:13:33.480 of actually played out well. And a lot of the 0:13:33.800 --> 0:13:37.760 post Liberation Day takes were predicting similar things, right, and 0:13:38.120 --> 0:13:40.440 you and I were no fans of tariffs, but they 0:13:40.520 --> 0:13:42.640 didn't have the pronounced impact actually that a lot of 0:13:42.640 --> 0:13:46.800 people forecast. And so this article it's not ill informed. 0:13:46.840 --> 0:13:50.199 It actually it highlights real risks, right, geopolitical risks in 0:13:50.320 --> 0:13:53.160 particular that after the speech from this week, of course, 0:13:53.600 --> 0:13:57.520 are meaningful, and they could play out. Given what's happening 0:13:57.559 --> 0:14:00.160 in the Middle East, I wouldn't be surprised about a 0:14:00.200 --> 0:14:03.720 lot of potential outcomes that could have real, massive ramifications 0:14:03.760 --> 0:14:05.920 on the global economy and on the US economy. But 0:14:06.040 --> 0:14:08.760 when the R word starts getting tossed around and they 0:14:08.840 --> 0:14:12.719 say a recession is coming, people tend to want to 0:14:12.840 --> 0:14:15.439 run for the exits. And I just want to say, 0:14:15.440 --> 0:14:17.400 you're going to see this word tossed around more and 0:14:17.520 --> 0:14:20.840 more in the coming weeks, and it's frightening for a 0:14:20.880 --> 0:14:24.000 lot of people, Matt. But there I just I hate 0:14:24.000 --> 0:14:26.680 to see. I think there's usually an emotional like cortisols 0:14:26.680 --> 0:14:28.200 spike when you read those headlines and you feel like 0:14:28.240 --> 0:14:28.600 you need. 0:14:28.520 --> 0:14:30.920 To take action. That's the whole point, right, Yeah, don't 0:14:31.040 --> 0:14:33.840 run for the exits. Instead, continue to invest like an optimist, 0:14:34.200 --> 0:14:38.120 save like a pessimist, and actually even pessimistic folks don't 0:14:38.440 --> 0:14:40.640 agree with his take. So there's this guy known as 0:14:40.680 --> 0:14:45.480 doctor Doom. He's an economist at NYU, and he actually 0:14:45.560 --> 0:14:48.160 recently shared that he doesn't see a recession on the horizon. 0:14:48.280 --> 0:14:53.080 So he was kind of a providing a level headed take. 0:14:53.320 --> 0:14:55.760 So who should you actually listen to? And I think 0:14:55.960 --> 0:14:58.400 it's the best idea is to always be prepared for 0:14:58.560 --> 0:15:02.280 a recession, whether we're talking about on the economy as 0:15:02.280 --> 0:15:05.160 a whole or just in your own personal life, but 0:15:05.400 --> 0:15:08.440 generally speaking two and out recession predictions. And I think 0:15:08.600 --> 0:15:12.240 folks might be getting tossed here and there by the 0:15:12.280 --> 0:15:15.600 different headlines. And oh, prices are increasing, like, of course 0:15:15.640 --> 0:15:17.320 the price of oil, we're just talking about that as well. 0:15:17.520 --> 0:15:20.080 Oh dude, let's provide some context too, because the price 0:15:20.160 --> 0:15:22.240 of oil, that's something where folks are like, oh my gosh, 0:15:22.320 --> 0:15:24.560 it's the highest it's been in a really long time, 0:15:25.920 --> 0:15:29.280 since twenty twenty two. In twenty twenty two, the inflation 0:15:29.640 --> 0:15:33.920 adjusted price for a barrel of oil was one hundred 0:15:33.920 --> 0:15:36.120 and thirty five dollars. So twenty twenty two, this is 0:15:36.160 --> 0:15:39.840 post pandemic, and before that it was two thousand and eight. 0:15:40.160 --> 0:15:44.160 This is during the Great Recession and the inflation, and 0:15:44.280 --> 0:15:47.680 just price there is almost double what it is today. 0:15:48.320 --> 0:15:50.120 In today's prices, it would have been two hundred and 0:15:50.240 --> 0:15:53.200 twelve dollars. And so this isn't this isn't to say 0:15:53.240 --> 0:15:58.480 that prices are not rising. But let's temper our expectations 0:15:58.520 --> 0:16:00.280 of whether or not O recession is going to and 0:16:00.440 --> 0:16:02.880 just for everyone to keep a levelhead, little heads. 0:16:02.920 --> 0:16:04.480 Yeah, all right, let's talk about the job market mat 0:16:04.480 --> 0:16:08.440 because instead of getting an annual raise, there's a chance 0:16:08.480 --> 0:16:10.920 you could actually get a pay cut at your annual review. 0:16:11.800 --> 0:16:12.080 Maybe. 0:16:12.640 --> 0:16:16.160 One of my friends actually recently mentioned he worked for 0:16:16.560 --> 0:16:19.960 a pretty large employer here where we live, and he said, man, 0:16:20.120 --> 0:16:23.360 looks like we have too much staff because of AI implementation. 0:16:23.480 --> 0:16:25.320 And I was like, what's going to happen? He was like, 0:16:25.480 --> 0:16:28.640 I'm not sure yet, but we could see reduced PEG. 0:16:28.720 --> 0:16:32.800 We could see people's jobs eliminated. And so the headline 0:16:32.840 --> 0:16:36.400 unemployment rate is still historically low. The job market has softened, 0:16:36.800 --> 0:16:38.680 and folks who have been laid off, they actually find 0:16:38.680 --> 0:16:41.840 themselves in a more precarious position right now. Instead of 0:16:42.040 --> 0:16:44.640 applying for jobs hoping for a lateral move or to 0:16:44.680 --> 0:16:47.000 stay in the same basic pay range. There's a new 0:16:47.040 --> 0:16:49.960 study that highlights that many people feel forced to take 0:16:49.960 --> 0:16:53.520 a job with a similar title that pays less. So 0:16:53.680 --> 0:16:56.640 there's this company, Rivellio Labs, and they found that among 0:16:57.080 --> 0:16:59.640 all white collar workers who changed jobs at the end 0:16:59.640 --> 0:17:02.560 of line next year, forty percent took salary cuts of 0:17:02.680 --> 0:17:05.439 more than ten percent. So you're unlikely to actually get 0:17:05.440 --> 0:17:08.200 a pay cut at your annual review. That's not something 0:17:08.280 --> 0:17:10.879 we're seeing in big numbers, but we are seeing people 0:17:11.160 --> 0:17:14.680 who are looking for another job or lose their job 0:17:14.800 --> 0:17:17.159 and then are on the job market. They have to 0:17:17.560 --> 0:17:20.400 be comfortable getting paid less, because that's four and ten 0:17:20.440 --> 0:17:22.800 people who are getting a significant pay cut. There are 0:17:22.800 --> 0:17:24.920 a few takeaways here, though. I think that's one is 0:17:25.040 --> 0:17:27.560 to save up more cash, whether there's a recession, whether 0:17:27.640 --> 0:17:30.440 something happens to your job. More cash on hand is huge, 0:17:30.520 --> 0:17:33.440 right if you lose your job, that cash offers you 0:17:33.520 --> 0:17:37.399 a longer runway, more time to hold out for the 0:17:37.600 --> 0:17:41.119 right position and pay package. Also, of course, have your 0:17:41.200 --> 0:17:44.920 bare bones budget on hand, your BBB, yes, because that's 0:17:44.960 --> 0:17:47.080 going to help you stretch your dollar even further if 0:17:47.119 --> 0:17:50.720 something happens to your job. And you're out there looking 0:17:50.800 --> 0:17:53.040 at hunting. And if you like your job and your 0:17:53.080 --> 0:17:56.679 current pay, make sure your employer knows how valuable you are, 0:17:56.800 --> 0:18:01.200 because if you were to lose your job, then the 0:18:02.040 --> 0:18:03.080 Piggins are slimmer. 0:18:03.240 --> 0:18:06.280 Yeah, yeah, absolutely like and that makes sense, like from 0:18:06.320 --> 0:18:08.840 an intuitive standpoint, but also in this story, and we'll 0:18:08.880 --> 0:18:10.680 link to, of course all of the stories we mentioned 0:18:10.840 --> 0:18:14.480 in the show notes for the Friday flight, but there 0:18:14.520 --> 0:18:16.480 is an individual that they talked that they were talking 0:18:16.640 --> 0:18:18.800 with and he kept saying something like, Oh, if they 0:18:18.800 --> 0:18:20.919 would only give me a chance, I could prove myself 0:18:21.240 --> 0:18:23.720 like that I'm really good if they only gave me 0:18:23.840 --> 0:18:27.640 the time. In the back of my mind, I kept thinking, well, man, 0:18:27.760 --> 0:18:30.639 you had time. It was with the job that you 0:18:30.800 --> 0:18:34.360 had prior to getting let go. And there's no time 0:18:34.560 --> 0:18:36.600 like the present when you are currently employed to be 0:18:36.640 --> 0:18:39.879 able to express not only your appreciation. And this isn't like, 0:18:40.080 --> 0:18:43.080 I don't know, don't buy your boss a gift, but like, 0:18:43.200 --> 0:18:46.159 find ways to prove your value and to show that 0:18:46.200 --> 0:18:48.479 you're invested in that you're taking this job seriously right, 0:18:48.560 --> 0:18:50.800 Like it makes me think about relationships even like I 0:18:50.840 --> 0:18:54.200 think back to when Kate and I were dating, a 0:18:54.320 --> 0:18:56.159 lot of my time was spent thinking of ways to 0:18:56.200 --> 0:19:00.280