1 00:00:00,040 --> 00:00:02,160 Speaker 1: Welcome to How the Money. I'm Joel and I and 2 00:00:02,240 --> 00:00:26,720 Speaker 1: Matt and today we're discussing automating your finances for the win. Automation, man, 3 00:00:26,760 --> 00:00:28,840 Speaker 1: that's what we're talking about today. We're talking about how 4 00:00:29,160 --> 00:00:31,680 Speaker 1: you can automate your money. But there are some downsides 5 00:00:31,720 --> 00:00:34,000 Speaker 1: to that. There's obviously some benefits, but if you don't 6 00:00:34,000 --> 00:00:36,040 Speaker 1: do it the right way, there's gonna be some downside. 7 00:00:36,080 --> 00:00:37,960 Speaker 1: So we're gonna talk about how you can automate your 8 00:00:37,960 --> 00:00:41,199 Speaker 1: money the right way. You don't want to automate improperly, man, 9 00:00:41,240 --> 00:00:43,120 Speaker 1: that would be a bad movie. Yeah, but you you 10 00:00:43,159 --> 00:00:45,160 Speaker 1: do want to automate to at least a certain extent 11 00:00:45,240 --> 00:00:47,599 Speaker 1: because it's gonna help your finances out in the long run. 12 00:00:47,760 --> 00:00:50,720 Speaker 1: I want to say we recently talked about gamification and 13 00:00:50,880 --> 00:00:54,240 Speaker 1: gamification and automation. It sounds like maybe they're a little similar, 14 00:00:54,600 --> 00:00:57,120 Speaker 1: but there are some big differences, right, Like, Gamification is 15 00:00:57,120 --> 00:00:59,640 Speaker 1: one thing. It's about making personal finance a little more fun, 16 00:01:00,040 --> 00:01:01,680 Speaker 1: treating it a little more game like in order to 17 00:01:01,720 --> 00:01:04,520 Speaker 1: get ahead. Automation is kind of the steps that you 18 00:01:04,560 --> 00:01:06,479 Speaker 1: take in order to get yourself out of the way 19 00:01:06,680 --> 00:01:08,360 Speaker 1: so that you have to make fewer decisions. And you 20 00:01:08,400 --> 00:01:10,840 Speaker 1: can still set yourself up for financial success and make 21 00:01:10,880 --> 00:01:13,040 Speaker 1: it automatic. It's like a little it's like your thermostat 22 00:01:13,040 --> 00:01:14,720 Speaker 1: and you set out on auto. I don't go in 23 00:01:14,720 --> 00:01:16,640 Speaker 1: there and change it. It does the work for me. 24 00:01:16,920 --> 00:01:20,120 Speaker 1: I just know I wanted at a certain temperature. Yeah, yeah, exactly, Matt. 25 00:01:20,200 --> 00:01:22,520 Speaker 1: Before we get to that topic, though, I wanted to 26 00:01:22,560 --> 00:01:25,320 Speaker 1: get your opinion as a professional photographer. What's this note 27 00:01:25,360 --> 00:01:27,760 Speaker 1: on here about like d I Y engagement shoot? So 28 00:01:27,840 --> 00:01:30,760 Speaker 1: my friend Faith recently posted she got engaged, So congrats 29 00:01:30,840 --> 00:01:33,720 Speaker 1: to Faith. Oh is this a business opportunity? I'm going 30 00:01:33,800 --> 00:01:35,320 Speaker 1: to put that to you right here on the air. 31 00:01:35,680 --> 00:01:37,240 Speaker 1: Would you like to shoot her wedding? And will you 32 00:01:37,280 --> 00:01:40,800 Speaker 1: give her a discount? Thanks buddy. So I don't think 33 00:01:40,840 --> 00:01:42,800 Speaker 1: she's gonna hire you man, based on what she's done already. 34 00:01:42,840 --> 00:01:46,200 Speaker 1: So she posted photos of her fiance and her on 35 00:01:46,360 --> 00:01:48,000 Speaker 1: her Instagram the other day and she said that they 36 00:01:48,040 --> 00:01:51,120 Speaker 1: did a d I Y engagement shoot session. So they 37 00:01:51,160 --> 00:01:54,440 Speaker 1: set up her smartphone on a tripod, they pressed the 38 00:01:54,480 --> 00:01:56,840 Speaker 1: button ten seconds and then you know, they pose and 39 00:01:56,880 --> 00:01:59,040 Speaker 1: they take the picture and the pictures turned out pretty good. 40 00:01:59,560 --> 00:02:01,680 Speaker 1: So I just kind of wanted to get your take 41 00:02:02,080 --> 00:02:04,960 Speaker 1: on whether people should be doing their own engagement photo shoots. 42 00:02:05,440 --> 00:02:07,160 Speaker 1: What are your thoughts on that? First, Yeah, you probably 43 00:02:07,160 --> 00:02:08,800 Speaker 1: think it's a great idea because you see that as 44 00:02:08,800 --> 00:02:10,320 Speaker 1: a way to save money, right. I do think it's 45 00:02:10,320 --> 00:02:12,360 Speaker 1: a great idea. I think it's a great idea. And 46 00:02:12,400 --> 00:02:15,280 Speaker 1: I will say, when Emily and I got married got engaged, 47 00:02:15,440 --> 00:02:17,560 Speaker 1: my friend Tim's a photographer and I like him so 48 00:02:17,639 --> 00:02:19,040 Speaker 1: much more than you, and that's why I had him 49 00:02:19,080 --> 00:02:20,960 Speaker 1: take the pictures. Now, I'm just kidding. We we didn't 50 00:02:20,960 --> 00:02:22,320 Speaker 1: really know each other about We didn't know each other 51 00:02:22,360 --> 00:02:24,720 Speaker 1: at all, so but I know Tim and we've worked together, 52 00:02:25,160 --> 00:02:28,280 Speaker 1: and Tim took a great some great engagement pictures for us, 53 00:02:28,360 --> 00:02:30,320 Speaker 1: and because he's a friend, you know, it was all 54 00:02:30,480 --> 00:02:32,400 Speaker 1: kind of included in this package whatever. But I think 55 00:02:32,440 --> 00:02:35,440 Speaker 1: if you're shopping him out separately, an engagement session can 56 00:02:35,480 --> 00:02:40,760 Speaker 1: cost hundreds of dollars and I think to be exact, okay, 57 00:02:40,880 --> 00:02:43,480 Speaker 1: at least for me, good to know. And yeah, if 58 00:02:43,760 --> 00:02:46,280 Speaker 1: someone wants to say five bucks by doing it themselves, 59 00:02:46,480 --> 00:02:49,400 Speaker 1: I mean, really, when I look back, I'm really glad 60 00:02:49,440 --> 00:02:52,960 Speaker 1: that we paid good money for professional pictures for our wedding, 61 00:02:53,240 --> 00:02:56,880 Speaker 1: But then engagement photo session those pictures just don't hold 62 00:02:56,960 --> 00:02:59,079 Speaker 1: quite the same sentimental value to me. So I think 63 00:02:59,080 --> 00:03:01,560 Speaker 1: it would have been okay just d I ying that 64 00:03:01,760 --> 00:03:04,040 Speaker 1: and saving money. Like, I think that's a decent move 65 00:03:04,080 --> 00:03:05,919 Speaker 1: for a lot of people to consider. So I will 66 00:03:05,919 --> 00:03:08,760 Speaker 1: agree with you if you're somebody and you know that 67 00:03:08,880 --> 00:03:10,880 Speaker 1: you just have a certain application of mind, right, Like 68 00:03:10,919 --> 00:03:12,680 Speaker 1: if you know you just want a couple of solid 69 00:03:12,720 --> 00:03:15,640 Speaker 1: shots for your wedding website, because of course you need 70 00:03:15,680 --> 00:03:17,359 Speaker 1: you want to have some cute pictures of yourselves where 71 00:03:17,360 --> 00:03:20,160 Speaker 1: you're not like at a brewery. Yeah, that's my life 72 00:03:20,160 --> 00:03:22,800 Speaker 1: at least. So if you if you have the end 73 00:03:22,800 --> 00:03:23,959 Speaker 1: in mind and you know that you just want a 74 00:03:23,960 --> 00:03:26,560 Speaker 1: few shots, then I think that's perfectly fine. Here is 75 00:03:26,600 --> 00:03:29,240 Speaker 1: the argument, you know, and this is me representing the 76 00:03:29,280 --> 00:03:33,400 Speaker 1: wedding photography industry a little bit, but a lot of times, 77 00:03:33,520 --> 00:03:35,520 Speaker 1: what you're doing when you have an engagement session is 78 00:03:35,520 --> 00:03:39,600 Speaker 1: that you're actually practicing having your photos taken. So most 79 00:03:39,600 --> 00:03:42,400 Speaker 1: people they're not used to having their pictures taken professionally, 80 00:03:42,720 --> 00:03:44,920 Speaker 1: and so when you have an engagement shoot, you're basically 81 00:03:44,960 --> 00:03:46,680 Speaker 1: getting a feel for what it's like being in front 82 00:03:46,720 --> 00:03:49,680 Speaker 1: of the camera, and that's really important. Because if you 83 00:03:49,680 --> 00:03:51,040 Speaker 1: have that out of the way, then on the wedding 84 00:03:51,120 --> 00:03:53,720 Speaker 1: day you can be yourself and you're relaxed and you're 85 00:03:53,760 --> 00:03:56,800 Speaker 1: having fun, and then the photographer can take really good pictures. 86 00:03:57,360 --> 00:04:00,520 Speaker 1: So that's the reason. I mean, that's an argument for it. Personally, 87 00:04:01,360 --> 00:04:03,320 Speaker 1: Like I don't ever try to upsell any of my 88 00:04:03,360 --> 00:04:06,400 Speaker 1: clients to get engagement photos done because I make less 89 00:04:07,360 --> 00:04:10,200 Speaker 1: because like you know, yeah it's five bucks, but even still, 90 00:04:10,320 --> 00:04:12,080 Speaker 1: when you take into account all the time that goes 91 00:04:12,120 --> 00:04:15,480 Speaker 1: into it, like emailing back and forth about outfits, locations, 92 00:04:15,920 --> 00:04:17,560 Speaker 1: the time it takes to shoot, the time it takes 93 00:04:17,560 --> 00:04:19,919 Speaker 1: to edit, there's still some bare minimums that you that 94 00:04:19,960 --> 00:04:21,880 Speaker 1: you have to do whether you're shooting for seven hours 95 00:04:21,920 --> 00:04:24,120 Speaker 1: or whether you're shooting just for an hour two hours 96 00:04:24,120 --> 00:04:27,560 Speaker 1: for an engagement shoot, and I actually make significantly less 97 00:04:28,120 --> 00:04:31,359 Speaker 1: on my engagement is hourly rate is way less on 98 00:04:31,400 --> 00:04:33,560 Speaker 1: engagement sessions, and so I don't try to upsell my 99 00:04:33,600 --> 00:04:37,040 Speaker 1: clients at all, but obviously if they're you know, they 100 00:04:37,040 --> 00:04:39,120 Speaker 1: show any interest in that, I'm more than happy to 101 00:04:39,160 --> 00:04:40,839 Speaker 1: do that because it's a great way for us to 102 00:04:41,240 --> 00:04:43,720 Speaker 1: get to know each other prior to the wedding. So 103 00:04:44,279 --> 00:04:45,640 Speaker 1: if you know, you just want a couple of great 104 00:04:45,640 --> 00:04:48,919 Speaker 1: shots for something specific, like like a site or maybe 105 00:04:48,920 --> 00:04:50,280 Speaker 1: for a save of the day. I think it's great. 106 00:04:50,480 --> 00:04:54,000 Speaker 1: I think what it comes down to is that engagement 107 00:04:54,000 --> 00:04:55,960 Speaker 1: shoots have become kind of this normal thing, and I 108 00:04:56,000 --> 00:04:57,560 Speaker 1: don't know that they were normal back in the day. 109 00:04:57,560 --> 00:04:58,960 Speaker 1: I don't think they were. I think they've kind of 110 00:04:59,000 --> 00:05:01,240 Speaker 1: become normal, and I think it's important for all of 111 00:05:01,279 --> 00:05:05,120 Speaker 1: us to question would have become quote unquote normal expenses 112 00:05:05,480 --> 00:05:08,440 Speaker 1: things that everyone around he does without thinking about it. Well, 113 00:05:08,520 --> 00:05:10,680 Speaker 1: you know what, it's stuff that we can think about 114 00:05:10,920 --> 00:05:13,920 Speaker 1: and we can make a different decision. And the things 115 00:05:13,920 --> 00:05:15,960 Speaker 1: that everyone around us is doing, we don't have to 116 00:05:16,520 --> 00:05:18,520 Speaker 1: take the bait. We don't have to go in that direction. 117 00:05:18,880 --> 00:05:21,400 Speaker 1: It was refreshing, I think to see her post, to 118 00:05:21,440 --> 00:05:23,680 Speaker 1: see that they took these cute pictures on their own 119 00:05:24,040 --> 00:05:25,680 Speaker 1: and it didn't have to be this big thing and 120 00:05:25,720 --> 00:05:28,040 Speaker 1: it didn't have to cost five bucks. And you know what. 121 00:05:28,160 --> 00:05:31,119 Speaker 1: The interesting thing too, the stats bear out that people 122 00:05:31,160 --> 00:05:35,039 Speaker 1: that spend less on their wedding actually typically stay together longer. 123 00:05:35,200 --> 00:05:37,800 Speaker 1: So sometimes the more you spend, the bigger a production 124 00:05:37,839 --> 00:05:40,680 Speaker 1: your wedding is, the more likely the relationship is to suffer. 125 00:05:40,720 --> 00:05:42,880 Speaker 1: So I don't know what that says about people, but 126 00:05:43,080 --> 00:05:45,480 Speaker 1: I think questioning these normal expenses, making sure that we're 127 00:05:45,520 --> 00:05:47,279 Speaker 1: kind of marching to our own beat and not just 128 00:05:47,360 --> 00:05:50,080 Speaker 1: going in the direction that most of society is going, 129 00:05:50,120 --> 00:05:51,800 Speaker 1: I think that's just that's just a good thing to 130 00:05:51,800 --> 00:05:54,200 Speaker 1: think about, right, It's always good to not be a 131 00:05:54,200 --> 00:05:58,080 Speaker 1: mindless drone. So, and I will say too, if you 132 00:05:58,120 --> 00:06:01,000 Speaker 1: don't have a professional engagement shoot, you can still have 133 00:06:01,040 --> 00:06:03,440 Speaker 1: amazing wedding photos. Like I'm not saying that you must 134 00:06:03,480 --> 00:06:06,960 Speaker 1: do that in order to have amazing, true, honest, emotion 135 00:06:07,040 --> 00:06:09,480 Speaker 1: filled wedding photos, but it does help a little bit. 136 00:06:09,480 --> 00:06:12,800 Speaker 1: So all right, I'm on the fence there because I can. 137 00:06:13,040 --> 00:06:15,479 Speaker 1: I'm totally with you from on like the frugal, you know, 138 00:06:15,720 --> 00:06:18,359 Speaker 1: cost saving standpoint, because that's totally something that Kate and 139 00:06:18,360 --> 00:06:20,039 Speaker 1: I did but way back in the day as well. 140 00:06:20,360 --> 00:06:21,840 Speaker 1: But then obviously on my side of it, as a 141 00:06:21,839 --> 00:06:23,880 Speaker 1: professional photographer, I see that side of it as well. 142 00:06:23,920 --> 00:06:25,480 Speaker 1: So yeah, all right, well I had to get your 143 00:06:25,640 --> 00:06:28,320 Speaker 1: little torn here and had to get your opinion on it. 144 00:06:28,360 --> 00:06:29,760 Speaker 1: All right, let's mention the beer we're having on the 145 00:06:29,760 --> 00:06:32,599 Speaker 1: show today, Matt. Today we're drinking a Legion day Glow 146 00:06:32,720 --> 00:06:35,360 Speaker 1: I p A and this was generously donated to us 147 00:06:35,360 --> 00:06:37,800 Speaker 1: by listener Joe Man. First off, I'll say this is 148 00:06:37,839 --> 00:06:41,000 Speaker 1: one rad can and look forward to sharing this one 149 00:06:41,000 --> 00:06:42,960 Speaker 1: with you, and we'll talk about it at the end 150 00:06:43,000 --> 00:06:45,279 Speaker 1: of this episode. But let's go ahead and get to 151 00:06:45,279 --> 00:06:47,560 Speaker 1: the topic at hand. I beat you to your line, 152 00:06:48,040 --> 00:06:51,040 Speaker 1: automating your finances for the win. Let's talk about it, Matt, 153 00:06:51,279 --> 00:06:53,440 Speaker 1: all right. And when I first started thinking about this topic, 154 00:06:53,480 --> 00:06:55,920 Speaker 1: I've really excited to tackle it. It made me think 155 00:06:55,920 --> 00:06:59,080 Speaker 1: of Henry Ford and he started manufacturing cars at a 156 00:06:59,200 --> 00:07:02,960 Speaker 1: rapid pace because he pretty much invented the assembly line, 157 00:07:03,360 --> 00:07:05,960 Speaker 1: and that completely changed the game when it came to 158 00:07:06,000 --> 00:07:09,000 Speaker 1: car manufacturing. Before he did that, it took twelve hours 159 00:07:09,000 --> 00:07:11,400 Speaker 1: to make a car and afterwards just two and a half. 160 00:07:11,880 --> 00:07:14,480 Speaker 1: And now our good pal Elon musk Man, he's changing 161 00:07:14,520 --> 00:07:17,880 Speaker 1: the game even more. Yeah, first name based friends, Yeah, 162 00:07:18,040 --> 00:07:22,119 Speaker 1: his first name, that's what I call him, right of course. 163 00:07:22,400 --> 00:07:25,920 Speaker 1: And he's nearing his goal of a fully autonomated assembly 164 00:07:25,920 --> 00:07:29,200 Speaker 1: line process. I think on the Model three, the assembly 165 00:07:29,200 --> 00:07:32,280 Speaker 1: line is completely automated, no humans involved in the process 166 00:07:32,280 --> 00:07:34,800 Speaker 1: of creating the car at all. That is actually pretty awesome. Yeah, 167 00:07:34,800 --> 00:07:37,600 Speaker 1: and it's gonna be interesting to see how that continues 168 00:07:37,600 --> 00:07:41,480 Speaker 1: to progress. But automation can aid speed, it can lower costs, 169 00:07:41,640 --> 00:07:44,600 Speaker 1: and it can create more reliable systems in general, So 170 00:07:44,960 --> 00:07:48,640 Speaker 1: automating your finances can have a similar effect. Getting good 171 00:07:48,680 --> 00:07:51,160 Speaker 1: at handling your money won't magically happen. You have to 172 00:07:51,200 --> 00:07:55,080 Speaker 1: take action and repeatedly making smart money moves. Well, that's 173 00:07:55,200 --> 00:07:57,560 Speaker 1: kind of hard for all of us. It's easy for 174 00:07:57,640 --> 00:07:59,520 Speaker 1: us to forget or just get playing lazy when it 175 00:07:59,520 --> 00:08:02,040 Speaker 1: comes to doing the right thing with our funds. And 176 00:08:02,080 --> 00:08:04,160 Speaker 1: that's really where automation comes in, right man. I mean 177 00:08:04,160 --> 00:08:07,120 Speaker 1: it helps us to engineer money success instead of just 178 00:08:07,320 --> 00:08:10,360 Speaker 1: kind of hoping and praying that will happen to us 179 00:08:10,720 --> 00:08:12,960 Speaker 1: or that will continually be able to muster the willpower 180 00:08:13,160 --> 00:08:15,240 Speaker 1: to make it happen on our own. Yeah. Well, you 181 00:08:15,240 --> 00:08:17,320 Speaker 1: know you said engineering, and that I think that's the 182 00:08:17,520 --> 00:08:20,360 Speaker 1: perfect term, right, because what we're doing is we're planning, 183 00:08:20,360 --> 00:08:23,240 Speaker 1: we're creating, and we're like managing these money systems, and 184 00:08:23,280 --> 00:08:25,760 Speaker 1: that's part of what automation is all about. But the 185 00:08:25,800 --> 00:08:28,360 Speaker 1: reason for automation and the reason that it's so helpful 186 00:08:28,440 --> 00:08:32,400 Speaker 1: is because we live ever increasingly busy in complex lives, right, 187 00:08:32,440 --> 00:08:35,360 Speaker 1: and our money. It's no different between the different bank 188 00:08:35,400 --> 00:08:38,400 Speaker 1: accounts that we have, multiple credit cards, the different debt 189 00:08:38,440 --> 00:08:42,120 Speaker 1: obligations we have, and even just new payment platforms I'm 190 00:08:42,120 --> 00:08:44,120 Speaker 1: thinking of like Venmo and cash app, just keeping up 191 00:08:44,160 --> 00:08:46,439 Speaker 1: with your money and there as well, and who owes 192 00:08:46,480 --> 00:08:49,040 Speaker 1: you what for what drinks and what restaurant? Right, all 193 00:08:49,080 --> 00:08:51,000 Speaker 1: these things combined, it can be difficult for us to 194 00:08:51,040 --> 00:08:53,360 Speaker 1: take action on a consistent basis that will have a 195 00:08:53,400 --> 00:08:56,840 Speaker 1: long lasting effect on our personal finances. And the keyword 196 00:08:56,880 --> 00:08:59,839 Speaker 1: here is consistent, right, Because at the beginning of the year, 197 00:09:00,040 --> 00:09:02,680 Speaker 1: with the different resolutions we've made, it might be a 198 00:09:02,720 --> 00:09:05,120 Speaker 1: bit easier to stock away a little more money towards 199 00:09:05,120 --> 00:09:08,720 Speaker 1: our savings, towards investing. But guess what, come April or May, 200 00:09:08,880 --> 00:09:11,480 Speaker 1: a lot of us have lost that enthusiasm and so 201 00:09:11,559 --> 00:09:15,000 Speaker 1: that consistent action has gone out the window. Automation it's 202 00:09:15,160 --> 00:09:17,839 Speaker 1: majorly helpful when we lack that motivation. I don't know 203 00:09:17,840 --> 00:09:19,560 Speaker 1: if you ever thought this map, but sometimes I'll hear 204 00:09:19,600 --> 00:09:21,240 Speaker 1: like a motivational speaker or something like that, and like, 205 00:09:21,240 --> 00:09:23,400 Speaker 1: where do they get this energy? They might they always 206 00:09:23,440 --> 00:09:25,600 Speaker 1: like that, right exactly and I know that they're not 207 00:09:25,679 --> 00:09:27,400 Speaker 1: because none of us can be like, none of us 208 00:09:27,440 --> 00:09:30,600 Speaker 1: can be that pumped up, forn like going through our 209 00:09:30,600 --> 00:09:32,560 Speaker 1: lives that pumped up, and so all of us are 210 00:09:32,559 --> 00:09:34,440 Speaker 1: going to lack the motivation at one time or another. 211 00:09:34,640 --> 00:09:36,520 Speaker 1: And that's where automation kicks in, right, and it has 212 00:09:36,720 --> 00:09:40,200 Speaker 1: a really big benefit. But automation also has some downsides. 213 00:09:40,240 --> 00:09:42,480 Speaker 1: And so before we kind of get into the benefits 214 00:09:42,480 --> 00:09:44,960 Speaker 1: and then how you should kind of go about implementing 215 00:09:45,000 --> 00:09:48,679 Speaker 1: automation into your personal finances so that you can succeed 216 00:09:48,760 --> 00:09:50,880 Speaker 1: with money this year, well we need to at least 217 00:09:50,960 --> 00:09:54,000 Speaker 1: cover some of those downsides first. It's really it's just 218 00:09:54,080 --> 00:09:56,240 Speaker 1: not a magic pill. It's not a cure all. So, 219 00:09:56,280 --> 00:09:57,960 Speaker 1: like a lot of different things we talked about on 220 00:09:58,000 --> 00:10:00,800 Speaker 1: the podcast, automation is this tool that we want to 221 00:10:00,840 --> 00:10:03,640 Speaker 1: implement and use in a way that will benefit our money. 222 00:10:03,640 --> 00:10:07,360 Speaker 1: But but the biggest benefit of automation is actually also 223 00:10:07,480 --> 00:10:10,840 Speaker 1: its biggest downfall. When we automate our personal finances, we 224 00:10:10,880 --> 00:10:13,440 Speaker 1: tend not to think about those things anymore, and putting 225 00:10:13,480 --> 00:10:16,600 Speaker 1: that distance between our mind and our money can be 226 00:10:16,640 --> 00:10:19,559 Speaker 1: a bad thing because we've essentially removed it from our 227 00:10:19,559 --> 00:10:22,720 Speaker 1: minds would we automate. We tend to say that's done, 228 00:10:23,040 --> 00:10:25,440 Speaker 1: and I don't have to even worry about it anymore. 229 00:10:25,480 --> 00:10:27,440 Speaker 1: And that's just not the case right there. There's still 230 00:10:27,480 --> 00:10:29,480 Speaker 1: a lot of intentionality and thought that needs to go 231 00:10:29,559 --> 00:10:32,120 Speaker 1: into how we handle our money, even if we're doing 232 00:10:32,120 --> 00:10:34,559 Speaker 1: well at automating. Yeah, exactly, I mean, well, that's exactly 233 00:10:34,640 --> 00:10:37,360 Speaker 1: what happens. Like when you automate something, you don't think 234 00:10:37,360 --> 00:10:39,880 Speaker 1: about it nearly as much. That makes me think of 235 00:10:40,080 --> 00:10:42,440 Speaker 1: the cruise control, like setting the cruise control on your car. 236 00:10:43,160 --> 00:10:44,880 Speaker 1: You set it and you forget it, Like it's not 237 00:10:44,960 --> 00:10:47,000 Speaker 1: something I continually think about how fast am I going? 238 00:10:47,040 --> 00:10:48,800 Speaker 1: Because I know I can trust the cruise control that 239 00:10:48,840 --> 00:10:51,000 Speaker 1: allows me to listen to podcasts or talk to my wife. 240 00:10:51,400 --> 00:10:53,400 Speaker 1: Your speed is not gonna change. You can count on 241 00:10:53,440 --> 00:10:56,559 Speaker 1: your cruise control. But the same thing isn't exactly true 242 00:10:56,720 --> 00:10:58,920 Speaker 1: when we automate our money. When it comes to our 243 00:10:58,920 --> 00:11:02,280 Speaker 1: personal finances, auto nation doesn't mean ignoring it right, not 244 00:11:02,360 --> 00:11:05,280 Speaker 1: looking at your bills and statements. Some people treat automation 245 00:11:05,320 --> 00:11:08,720 Speaker 1: this way. But automation won't keep you from these recurring 246 00:11:08,720 --> 00:11:11,000 Speaker 1: monthly expenses in your credit card. You still need to 247 00:11:11,000 --> 00:11:13,280 Speaker 1: look at your statements, or you need to check mint 248 00:11:13,559 --> 00:11:16,240 Speaker 1: so that you can keep tabs on where your finances 249 00:11:16,240 --> 00:11:20,240 Speaker 1: are and slash spending where it's needed. Especially considering this 250 00:11:20,320 --> 00:11:21,840 Speaker 1: day and age that we live in, with I D 251 00:11:21,920 --> 00:11:24,280 Speaker 1: theft and with your credit card numbers floating out there, 252 00:11:24,360 --> 00:11:26,360 Speaker 1: you need to know what your expenses are. You need 253 00:11:26,400 --> 00:11:28,360 Speaker 1: to be able to keep tabs on your incoming and 254 00:11:28,400 --> 00:11:31,720 Speaker 1: outgoing money. Yeah, just because you've got your credit card 255 00:11:31,760 --> 00:11:33,760 Speaker 1: set up on auto pay, you know, for for the 256 00:11:33,800 --> 00:11:35,719 Speaker 1: full balance, Well, that doesn't mean that you don't have 257 00:11:35,800 --> 00:11:37,920 Speaker 1: to pay attention to what you're putting on that credit card, 258 00:11:38,000 --> 00:11:41,040 Speaker 1: right to the spending that you're actually making. And automation 259 00:11:41,080 --> 00:11:44,760 Speaker 1: can be really big for in particular saving and investing. 260 00:11:45,040 --> 00:11:47,319 Speaker 1: But let's talk about our expenses. Do we really want 261 00:11:47,320 --> 00:11:49,560 Speaker 1: our expenses to be automated? And we'll get into more 262 00:11:49,640 --> 00:11:51,640 Speaker 1: of this a little bit later in the show too, 263 00:11:51,880 --> 00:11:54,520 Speaker 1: but I just want to pull this example out, Matt. 264 00:11:54,640 --> 00:11:57,920 Speaker 1: My utility bills every single month, I'm really intentional about 265 00:11:58,000 --> 00:12:00,560 Speaker 1: opening up the email with how much I've spent on 266 00:12:00,720 --> 00:12:04,640 Speaker 1: water usage or natural gas usage or electricity usage. I 267 00:12:04,679 --> 00:12:06,800 Speaker 1: want to know exactly how much I'm spending every month, 268 00:12:07,120 --> 00:12:09,240 Speaker 1: I like to look those utility bills in the face 269 00:12:09,679 --> 00:12:12,760 Speaker 1: and then I pay that bill. I think it's okay 270 00:12:12,800 --> 00:12:15,080 Speaker 1: to automate some of these bill payments, but it doesn't 271 00:12:15,120 --> 00:12:17,720 Speaker 1: mean you shouldn't look at them before you pay. I 272 00:12:17,720 --> 00:12:19,400 Speaker 1: think looking at your bills in the face is a 273 00:12:19,400 --> 00:12:22,640 Speaker 1: powerful thing that can actually be a challenge for us 274 00:12:22,720 --> 00:12:26,000 Speaker 1: to use less or to spend less. And and I 275 00:12:26,040 --> 00:12:29,480 Speaker 1: think sometimes when we automate, like you said, it feels 276 00:12:29,480 --> 00:12:31,920 Speaker 1: like hitting the cruise control button and we decide not 277 00:12:32,000 --> 00:12:34,000 Speaker 1: to pay attention in the way that we used to. 278 00:12:34,280 --> 00:12:36,520 Speaker 1: But I think we still have to pay particular attention 279 00:12:36,600 --> 00:12:38,840 Speaker 1: to our expenditures and how much the bills are that 280 00:12:38,880 --> 00:12:41,000 Speaker 1: are coming in every month, because that can help us 281 00:12:41,040 --> 00:12:43,920 Speaker 1: make necessary changes to be able to save more and 282 00:12:43,960 --> 00:12:47,880 Speaker 1: automate more of that money away towards our investments and savings. Yeah, man, 283 00:12:47,920 --> 00:12:50,480 Speaker 1: well so far right. We're talking about expenses and and 284 00:12:50,520 --> 00:12:52,959 Speaker 1: bill pay things like that. But you just mentioned being 285 00:12:52,960 --> 00:12:55,720 Speaker 1: able to save more money, and that's so true, because 286 00:12:55,880 --> 00:12:58,240 Speaker 1: that's something we need to consider saving and investing. I 287 00:12:58,240 --> 00:13:00,800 Speaker 1: think when it comes to automation that it also cause 288 00:13:00,920 --> 00:13:03,480 Speaker 1: you to forget to increase your four oh one K 289 00:13:03,679 --> 00:13:05,960 Speaker 1: contribution when it comes to the amount of money that 290 00:13:06,000 --> 00:13:08,640 Speaker 1: you're investing in your retirement. Right, just like with our 291 00:13:08,880 --> 00:13:11,680 Speaker 1: other with our different monthly utility bills, when we set 292 00:13:11,679 --> 00:13:14,440 Speaker 1: it and forget it, we might fail to challenge ourselves 293 00:13:14,440 --> 00:13:17,320 Speaker 1: to do better to increase the amount that we're setting. Aside, Joel, 294 00:13:17,360 --> 00:13:19,800 Speaker 1: you recently talked about with gamification, when you go in 295 00:13:19,800 --> 00:13:22,200 Speaker 1: there and you increase that percentage, the confetti flies, the 296 00:13:22,200 --> 00:13:24,880 Speaker 1: banner goes across the screen. Not only are you missing 297 00:13:24,920 --> 00:13:28,280 Speaker 1: out on that little, small, tangible reward, but but we're 298 00:13:28,280 --> 00:13:30,319 Speaker 1: missing out on lots of money down the road when 299 00:13:30,360 --> 00:13:31,839 Speaker 1: we fail to sit down and look at our money 300 00:13:31,960 --> 00:13:34,040 Speaker 1: and to see what kind of shape our personal finances 301 00:13:34,080 --> 00:13:36,040 Speaker 1: are in. Well, I will say a beautiful thing. More 302 00:13:36,040 --> 00:13:38,800 Speaker 1: and more employers are offering four oh one K accounts 303 00:13:38,840 --> 00:13:42,960 Speaker 1: that automatically increase your contribution level every year when you 304 00:13:42,960 --> 00:13:45,360 Speaker 1: get a raised and so I think that's really really nice. 305 00:13:45,520 --> 00:13:47,400 Speaker 1: That's another thing that we don't have to think about. 306 00:13:47,440 --> 00:13:49,840 Speaker 1: But it is happening, right. But if your employer isn't 307 00:13:49,880 --> 00:13:53,600 Speaker 1: doing that, I agree your automation maybe setting it and 308 00:13:53,600 --> 00:13:56,600 Speaker 1: forgetting it, getting that employer match you're putting in six 309 00:13:56,640 --> 00:13:58,760 Speaker 1: and your employers putting in three you know, whatever your 310 00:13:58,800 --> 00:14:01,880 Speaker 1: employer matches. If you're hitting that, you might just forget 311 00:14:01,920 --> 00:14:04,679 Speaker 1: every year to add a little bit more So having 312 00:14:04,720 --> 00:14:07,760 Speaker 1: that automated six percent withdraw from your paycheck, that's great, 313 00:14:08,040 --> 00:14:09,920 Speaker 1: but you do want to challenge yourself to step that 314 00:14:10,000 --> 00:14:13,160 Speaker 1: up over the years, and automation can actually be that 315 00:14:13,280 --> 00:14:15,880 Speaker 1: kind of detractor because you're not thinking about it. So 316 00:14:15,920 --> 00:14:18,839 Speaker 1: I think the key to not letting automation turn into 317 00:14:19,040 --> 00:14:23,200 Speaker 1: something like apathy is to help set calendar reminders. For instance, 318 00:14:23,240 --> 00:14:25,000 Speaker 1: like maybe twice a year, you can look at the 319 00:14:25,040 --> 00:14:28,120 Speaker 1: automation choices you've made and you can see if those 320 00:14:28,160 --> 00:14:31,240 Speaker 1: allocations need to change or improof. If you find that 321 00:14:31,320 --> 00:14:34,040 Speaker 1: you have this tendency to set it and forget it, well, 322 00:14:34,080 --> 00:14:36,440 Speaker 1: now is a great time to kind of populate a 323 00:14:36,440 --> 00:14:39,640 Speaker 1: couple of these times in your calendar for you know, 324 00:14:39,680 --> 00:14:42,400 Speaker 1: the next twelve months where you are going to revisit 325 00:14:42,440 --> 00:14:45,800 Speaker 1: the savings and investing choices that you have currently automated 326 00:14:46,120 --> 00:14:48,360 Speaker 1: so that you can potentially increase or improve you know, 327 00:14:48,400 --> 00:14:50,800 Speaker 1: those financial choices that you're making. All right, man, so 328 00:14:50,800 --> 00:14:52,960 Speaker 1: so far, it sounds like we're kind of down on automation, 329 00:14:53,000 --> 00:14:54,840 Speaker 1: but we're not, but we're not exactly, and we're gonna 330 00:14:54,880 --> 00:14:56,880 Speaker 1: get to that right after the break. We're gonna talk 331 00:14:56,920 --> 00:14:59,680 Speaker 1: about some of the actual benefits of automation, some of 332 00:14:59,680 --> 00:15:01,600 Speaker 1: the mob us but some of them not so obvious. 333 00:15:11,440 --> 00:15:13,040 Speaker 1: All right, Matt, we're back from the break. We're talking 334 00:15:13,040 --> 00:15:16,040 Speaker 1: about automation, how it can be a big win for 335 00:15:16,080 --> 00:15:19,880 Speaker 1: your finances and especially you know New Year resolutions, you 336 00:15:19,920 --> 00:15:24,080 Speaker 1: know what, are resolved to increase your automation skills and 337 00:15:24,120 --> 00:15:26,280 Speaker 1: to make it we'll make it a whole lot easier 338 00:15:26,320 --> 00:15:28,600 Speaker 1: for you to save money for the future. Right, and 339 00:15:28,640 --> 00:15:30,640 Speaker 1: so let's talk about some of those benefits. Because we 340 00:15:30,640 --> 00:15:32,880 Speaker 1: were not down on automation, we really love it. The 341 00:15:32,920 --> 00:15:35,920 Speaker 1: biggest benefits that you're going to receive from automating your 342 00:15:36,240 --> 00:15:40,720 Speaker 1: finances our behavioral in nature. Automation's main goal is in 343 00:15:40,800 --> 00:15:43,760 Speaker 1: getting us out of our own way. So if we 344 00:15:43,800 --> 00:15:46,720 Speaker 1: see money hanging out in our account, it's really easy 345 00:15:46,760 --> 00:15:49,000 Speaker 1: for us to spend it, and automation can be one 346 00:15:49,040 --> 00:15:51,600 Speaker 1: of the main keys to help prevent us from messing 347 00:15:51,600 --> 00:15:54,880 Speaker 1: ourselves up. Right, Matt, Dude, we're not perfect, right like you. 348 00:15:54,880 --> 00:15:57,040 Speaker 1: You're talking about the motivational speaker there earlier how they 349 00:15:57,080 --> 00:16:00,680 Speaker 1: have like boundless energy. I think sometimes folks my falsely 350 00:16:00,760 --> 00:16:03,200 Speaker 1: think that we make all the perfect decisions when it 351 00:16:03,240 --> 00:16:06,120 Speaker 1: comes to our money. But like you said, sometimes when 352 00:16:06,120 --> 00:16:07,880 Speaker 1: I see money in my account, I want to spend 353 00:16:07,880 --> 00:16:10,640 Speaker 1: it because, like, I worked hard for that money, and 354 00:16:10,760 --> 00:16:13,400 Speaker 1: I think I deserve something completely man easy to justify. 355 00:16:13,440 --> 00:16:15,520 Speaker 1: I have those treat myself days that where I think 356 00:16:15,640 --> 00:16:18,240 Speaker 1: I deserve something and sometimes I act. And that's why 357 00:16:18,320 --> 00:16:21,080 Speaker 1: I need automation in my life to help me make 358 00:16:21,120 --> 00:16:23,880 Speaker 1: sure I'm funneling money in the proper directions for my 359 00:16:23,920 --> 00:16:27,440 Speaker 1: greater goals exactly so because of that, automation can be fantastic. 360 00:16:27,640 --> 00:16:29,920 Speaker 1: One of the biggest benefits that I think everybody can 361 00:16:29,960 --> 00:16:32,560 Speaker 1: easily relate to is the fact that automation will say 362 00:16:32,600 --> 00:16:36,000 Speaker 1: of us time, right, like, who likes spending nights and 363 00:16:36,000 --> 00:16:39,880 Speaker 1: weekends budgeting? Not this guy? Sometimes I do, though I'm 364 00:16:39,880 --> 00:16:43,520 Speaker 1: going to confess I am I am, I love excel 365 00:16:43,600 --> 00:16:45,280 Speaker 1: I like I like to see that zero at the 366 00:16:45,360 --> 00:16:47,680 Speaker 1: end where it's all balanced out. But we have to 367 00:16:47,720 --> 00:16:50,080 Speaker 1: spend some time working on our money and deciding where 368 00:16:50,080 --> 00:16:52,040 Speaker 1: it goes. But the more that we and I'll you know, 369 00:16:52,080 --> 00:16:55,040 Speaker 1: I'll say I as well that I can automatically funnel 370 00:16:55,040 --> 00:16:57,720 Speaker 1: that money into the desired places. The more time we'll 371 00:16:57,720 --> 00:17:00,120 Speaker 1: have to do other more fun things like more are 372 00:17:00,200 --> 00:17:03,040 Speaker 1: meaningful things as well. You're talking about discolf, right yeah, 373 00:17:03,160 --> 00:17:05,480 Speaker 1: or like more admirable things that was on the podcast, 374 00:17:05,480 --> 00:17:08,320 Speaker 1: like spend with my family. I'm gonna go with discolf 375 00:17:08,680 --> 00:17:11,320 Speaker 1: do it for the kids, so yeah, I think. Yeah, 376 00:17:11,359 --> 00:17:14,480 Speaker 1: automating that's one of the biggest benefits, right, more time 377 00:17:14,680 --> 00:17:16,520 Speaker 1: to do the things that you actually want to do, 378 00:17:16,880 --> 00:17:19,280 Speaker 1: like spend time with your family or play discoff And 379 00:17:19,320 --> 00:17:23,679 Speaker 1: then another thing. Automation truly does help increase your mental bandwidth. 380 00:17:24,000 --> 00:17:27,280 Speaker 1: We live these complicated lives right and in general and 381 00:17:27,359 --> 00:17:29,520 Speaker 1: just overall, and then financially too. I feel like our 382 00:17:29,560 --> 00:17:33,000 Speaker 1: financial system has gotten so complex, there's so much intricacy 383 00:17:33,040 --> 00:17:36,000 Speaker 1: to it. And not only does automating save you that time, 384 00:17:36,000 --> 00:17:38,640 Speaker 1: but it means that less of your mental faculties are 385 00:17:38,720 --> 00:17:42,200 Speaker 1: tied up thinking about money on the leg, so crushing 386 00:17:42,240 --> 00:17:45,160 Speaker 1: your money game while thinking about it less that's say, 387 00:17:45,200 --> 00:17:47,080 Speaker 1: plus that's what you want. You don't want that your 388 00:17:47,119 --> 00:17:50,120 Speaker 1: brain resources tied up, you know, thinking about money all 389 00:17:50,119 --> 00:17:53,159 Speaker 1: the time in the background, sucking up that energy. Do 390 00:17:53,160 --> 00:17:54,800 Speaker 1: you want to know that you've made the right choices 391 00:17:54,840 --> 00:17:57,520 Speaker 1: and you've automated them so that you can spend less 392 00:17:57,560 --> 00:18:00,240 Speaker 1: of your mental resources thinking about where that money has 393 00:18:00,280 --> 00:18:02,160 Speaker 1: to go. Yeah, it makes me think of so our 394 00:18:02,320 --> 00:18:05,320 Speaker 1: interview recently with Vincent right, he talked about how when 395 00:18:05,320 --> 00:18:08,760 Speaker 1: you have money freedom, you have mental freedom. And when 396 00:18:08,800 --> 00:18:10,479 Speaker 1: you have mental freedom and you have a little bit 397 00:18:10,480 --> 00:18:13,240 Speaker 1: of space for your mind to like daydream and wander 398 00:18:13,240 --> 00:18:15,760 Speaker 1: a little bit, like, that's when we get creative. And 399 00:18:15,800 --> 00:18:18,000 Speaker 1: sometimes that's when we have the best money saving or 400 00:18:18,040 --> 00:18:21,600 Speaker 1: even the money making ideas. And if all that mental 401 00:18:21,640 --> 00:18:24,200 Speaker 1: bandwidth is tied up in making sure that bill is 402 00:18:24,200 --> 00:18:26,680 Speaker 1: paid on time or thinking about whether or not we're 403 00:18:26,680 --> 00:18:29,960 Speaker 1: investing properly, that can be hugely detrimental. Yeah, man, And 404 00:18:30,040 --> 00:18:33,840 Speaker 1: automation ultimately, like I think probably considering our shows how 405 00:18:33,840 --> 00:18:36,239 Speaker 1: the money the biggest thing is automation will help you 406 00:18:36,600 --> 00:18:39,399 Speaker 1: save more of your money. Well, that sounds nice, yeah, right, 407 00:18:39,440 --> 00:18:41,400 Speaker 1: I mean it's a huge benefit and it's so much 408 00:18:41,400 --> 00:18:45,000 Speaker 1: easier than willpower. Right. If I personally actually had to 409 00:18:45,000 --> 00:18:48,399 Speaker 1: set aside a big chunk of my pay towards investments 410 00:18:48,440 --> 00:18:51,680 Speaker 1: every two weeks, I probably wouldn't do nearly as good 411 00:18:51,680 --> 00:18:54,600 Speaker 1: a job at it. But automating that decision means it 412 00:18:54,720 --> 00:18:57,600 Speaker 1: gets done and I don't have to be super disciplined. 413 00:18:57,880 --> 00:19:01,040 Speaker 1: Being disciplined in that initial decision. Making that one hard 414 00:19:01,119 --> 00:19:03,560 Speaker 1: choice at the beginning means that I'm gonna save a 415 00:19:03,560 --> 00:19:05,880 Speaker 1: whole lot more and I don't have to continually muster 416 00:19:05,960 --> 00:19:08,000 Speaker 1: up the willpower to make sure it happens. Yeah, dude, 417 00:19:08,000 --> 00:19:09,439 Speaker 1: it makes me. It takes me back to that statement 418 00:19:09,440 --> 00:19:11,639 Speaker 1: when we're talking about engineering these systems right like at 419 00:19:11,640 --> 00:19:14,720 Speaker 1: the beginning there, because yeah, you've made that one hard decision, 420 00:19:14,760 --> 00:19:17,280 Speaker 1: you've done the research, you've done all this upfront. You 421 00:19:17,280 --> 00:19:19,200 Speaker 1: don't have to do that every single time. You don't 422 00:19:19,200 --> 00:19:22,760 Speaker 1: need to be constantly reinventing the wheel. You know it works. 423 00:19:22,960 --> 00:19:25,560 Speaker 1: You have decided what you're gonna do. Basically from here 424 00:19:25,600 --> 00:19:28,440 Speaker 1: moving forward, what we're doing, we're monitoring and we're managing 425 00:19:28,440 --> 00:19:31,400 Speaker 1: our money. We're not going through the steps that require 426 00:19:31,480 --> 00:19:33,720 Speaker 1: that you know, all that willpower. Just like you said, 427 00:19:34,040 --> 00:19:36,119 Speaker 1: and Jo, you're talking about how automation can help us 428 00:19:36,119 --> 00:19:38,360 Speaker 1: to save more money and when it comes to investing, right, 429 00:19:38,600 --> 00:19:41,320 Speaker 1: but as far as our expenses go, automation can also 430 00:19:41,440 --> 00:19:43,919 Speaker 1: help us to save a lot of money as well. 431 00:19:44,000 --> 00:19:46,359 Speaker 1: I'm thinking about if you forget to pay, say a 432 00:19:46,400 --> 00:19:50,560 Speaker 1: certain bill, like we hate paying fees and interest as well, right, 433 00:19:50,600 --> 00:19:53,000 Speaker 1: so any tool that keeps more of our money in 434 00:19:53,040 --> 00:19:55,160 Speaker 1: our pocket, we're going to be all about that. Yeah, 435 00:19:55,200 --> 00:19:58,840 Speaker 1: automation auto pay is so helpful because forgetting to pay 436 00:19:59,160 --> 00:20:02,000 Speaker 1: not good, you know with that. No, and automation also 437 00:20:02,160 --> 00:20:04,920 Speaker 1: is this easy route I think to helping us develop 438 00:20:05,400 --> 00:20:08,840 Speaker 1: strong financial habits. The more we automatically do something, the 439 00:20:08,880 --> 00:20:10,960 Speaker 1: more it kind of becomes this ingrained part of us. 440 00:20:11,400 --> 00:20:13,760 Speaker 1: If you ended up saving ten percent of your income 441 00:20:13,840 --> 00:20:17,720 Speaker 1: last year because of your automation brilliance, well, now you 442 00:20:17,760 --> 00:20:20,960 Speaker 1: begin to kind of see yourself as a great saver, 443 00:20:21,359 --> 00:20:24,240 Speaker 1: and that's really motivating, right. It kind of changes how 444 00:20:24,280 --> 00:20:27,080 Speaker 1: you view yourself as you make better decisions and you 445 00:20:27,080 --> 00:20:29,760 Speaker 1: start to see progress. It's it's really motivating and it 446 00:20:30,040 --> 00:20:33,719 Speaker 1: informs how you view yourself. And so yeah, I think 447 00:20:33,720 --> 00:20:36,440 Speaker 1: that's a really important thing to mention. Automating your finance 448 00:20:36,440 --> 00:20:39,119 Speaker 1: as well and succeeding helps you see yourself at a 449 00:20:39,119 --> 00:20:41,960 Speaker 1: new light. Helps you see yourself as somebody who is 450 00:20:42,000 --> 00:20:44,680 Speaker 1: good with money, because you know what now you are Yeah, 451 00:20:44,720 --> 00:20:48,879 Speaker 1: positive reinforcement, dude, it's so valuable. Uh. And then lastly, 452 00:20:48,920 --> 00:20:51,200 Speaker 1: I want to mention to how you can achieve your 453 00:20:51,200 --> 00:20:54,639 Speaker 1: goals faster when your money is automated. Right. Of course, 454 00:20:54,720 --> 00:20:56,879 Speaker 1: automation will help us to get where we want to 455 00:20:56,920 --> 00:20:59,960 Speaker 1: get at a more rapid clip. Automatic saving and automatic 456 00:21:00,080 --> 00:21:03,200 Speaker 1: investing will allow us to actually achieve what we want 457 00:21:03,240 --> 00:21:06,280 Speaker 1: without burning out or changing our mind. Again, we are 458 00:21:06,560 --> 00:21:09,400 Speaker 1: human beings, were a tempted to spend money that we shouldn't. 459 00:21:09,560 --> 00:21:13,040 Speaker 1: An automation will help those goals that we've identified and 460 00:21:13,080 --> 00:21:16,520 Speaker 1: set out to achieve. It can make those goals a reality. Yeah. 461 00:21:16,560 --> 00:21:19,199 Speaker 1: I mean, we talked about Henry Ford's assembly line and 462 00:21:19,240 --> 00:21:22,000 Speaker 1: how it took the production down from twelve hours to 463 00:21:22,040 --> 00:21:23,960 Speaker 1: two and a half, and I'm really interested. I don't 464 00:21:24,000 --> 00:21:25,920 Speaker 1: know how long it takes a Model three to be built, 465 00:21:26,160 --> 00:21:28,920 Speaker 1: but I have to imagine that once that car production 466 00:21:28,960 --> 00:21:33,400 Speaker 1: process becomes fully automated, and then Elon can start tinkering 467 00:21:33,800 --> 00:21:36,200 Speaker 1: with how long it takes it to be built. Maybe 468 00:21:36,200 --> 00:21:38,440 Speaker 1: he can build a Model three in like twenty minutes. 469 00:21:38,520 --> 00:21:41,680 Speaker 1: I don't know, but like that's that's possible. That's possible. 470 00:21:41,880 --> 00:21:44,840 Speaker 1: Automation you can have these abilities obmostly you didn't foresee 471 00:21:44,880 --> 00:21:46,720 Speaker 1: and I think, yeah, I really will help us to 472 00:21:46,760 --> 00:21:49,560 Speaker 1: achieve our goals much much faster because we're not constantly 473 00:21:49,600 --> 00:21:52,800 Speaker 1: changing our mind and stumbling over our own poor decisions 474 00:21:52,800 --> 00:21:55,080 Speaker 1: and did our own behavior has so much of an 475 00:21:55,119 --> 00:21:56,639 Speaker 1: impact on the amount of money that we're able to 476 00:21:56,680 --> 00:21:59,800 Speaker 1: save and invest. So much of the knowledge we know, right, Like, 477 00:21:59,840 --> 00:22:01,800 Speaker 1: we know the things that we're supposed to do. The 478 00:22:01,840 --> 00:22:03,960 Speaker 1: problem is is that we are often bad at doing 479 00:22:04,000 --> 00:22:05,800 Speaker 1: the things that we know that we need to do. 480 00:22:06,160 --> 00:22:09,200 Speaker 1: That's why automation is great. So how do we then 481 00:22:09,320 --> 00:22:12,199 Speaker 1: actually start automating our finances making sure that we do 482 00:22:12,240 --> 00:22:14,879 Speaker 1: it well. Well, let's get into some of the specifics 483 00:22:14,880 --> 00:22:16,560 Speaker 1: of how to go about it, and we'll get to 484 00:22:16,560 --> 00:22:27,879 Speaker 1: that right after the break. All right, you know what 485 00:22:27,920 --> 00:22:30,000 Speaker 1: I think we should do? Now, jel get back to 486 00:22:30,040 --> 00:22:32,879 Speaker 1: talking about automation. Let the show go on. Yeah, so 487 00:22:32,960 --> 00:22:35,800 Speaker 1: let's discuss now how to go about automating our money. 488 00:22:35,840 --> 00:22:39,360 Speaker 1: Now you know the potential pitfalls and have become convinced 489 00:22:39,359 --> 00:22:42,320 Speaker 1: of the benefits of automation, let's talk now about how 490 00:22:42,680 --> 00:22:47,280 Speaker 1: you can actually implement automation into your personal finance life. First, off, 491 00:22:47,400 --> 00:22:50,800 Speaker 1: let's talk about a cushion, or maybe some folks call 492 00:22:50,800 --> 00:22:53,640 Speaker 1: it a slush fund. Having the right accounts is really 493 00:22:53,640 --> 00:22:56,080 Speaker 1: helpful when it comes to automating your money. Having the 494 00:22:56,160 --> 00:22:58,520 Speaker 1: right accounts and then having the right amount of money 495 00:22:58,840 --> 00:23:00,800 Speaker 1: in those accounts and emerge as he fund or a 496 00:23:00,800 --> 00:23:04,720 Speaker 1: cash cushion can make automation much less stressful. If you 497 00:23:04,800 --> 00:23:06,680 Speaker 1: aren't sure whether or not you can pay your credit 498 00:23:06,720 --> 00:23:09,280 Speaker 1: card and full as a statement draws near like that 499 00:23:09,320 --> 00:23:11,880 Speaker 1: can be really difficult and put you in a stressful position. 500 00:23:12,080 --> 00:23:15,560 Speaker 1: Automating without a proper cushion can cause you to overdraft 501 00:23:15,600 --> 00:23:18,560 Speaker 1: your account or have a payment denied, causing you to 502 00:23:18,640 --> 00:23:21,880 Speaker 1: pay more interest and fees. So if you are keen 503 00:23:22,000 --> 00:23:24,359 Speaker 1: to take advantage of automation, make sure that you have 504 00:23:24,520 --> 00:23:27,840 Speaker 1: a solid savings built up. We recently talked about margin 505 00:23:28,080 --> 00:23:30,320 Speaker 1: and Our Lives Sold Episode one two three is the 506 00:23:30,320 --> 00:23:32,240 Speaker 1: first one of the year. Yeah, yeah, and that was 507 00:23:32,760 --> 00:23:35,760 Speaker 1: really kind of twofold. We talked about margin in a 508 00:23:35,800 --> 00:23:37,800 Speaker 1: financial sense and then margin kind of in a time 509 00:23:37,840 --> 00:23:40,199 Speaker 1: sense and kind of how we live our lives, and 510 00:23:40,400 --> 00:23:42,280 Speaker 1: we're trying to build both of those in our lives 511 00:23:42,280 --> 00:23:44,440 Speaker 1: more and more, and on the financial side, the more 512 00:23:44,480 --> 00:23:47,000 Speaker 1: of a cash cushion that you have, the more automation 513 00:23:47,400 --> 00:23:50,360 Speaker 1: feels good, because, yeah, if you don't have to worry 514 00:23:50,359 --> 00:23:52,480 Speaker 1: about it, if you've automated everything, but you're not sure 515 00:23:52,480 --> 00:23:54,800 Speaker 1: that you have the money to to actually to follow 516 00:23:54,840 --> 00:23:57,160 Speaker 1: through on what you've automated, then that that that can 517 00:23:57,200 --> 00:23:59,000 Speaker 1: be a scary place to be. And so yeah, you 518 00:23:59,040 --> 00:24:02,240 Speaker 1: do need to prioritize building up some savings as you 519 00:24:02,280 --> 00:24:04,639 Speaker 1: get into automating your finances more and more. If you 520 00:24:04,640 --> 00:24:06,600 Speaker 1: don't have a cash cushion there, that kind of feels 521 00:24:06,600 --> 00:24:09,920 Speaker 1: like having your cruise control on through like a work zone. 522 00:24:10,280 --> 00:24:12,640 Speaker 1: It's like you have your like dodging traffic. You're thinking, 523 00:24:12,640 --> 00:24:15,000 Speaker 1: I really shouldn't be doing this, but it's it's an autopilot. Yeah, 524 00:24:15,200 --> 00:24:16,760 Speaker 1: Like that's not the kind of position that you want 525 00:24:16,760 --> 00:24:19,480 Speaker 1: to be in. Yeah, completely, buddy. And another thing we 526 00:24:19,520 --> 00:24:22,080 Speaker 1: need to talk about when we're talking about implementing automation 527 00:24:22,119 --> 00:24:25,359 Speaker 1: into our lives is auto bill pay. Like we mentioned 528 00:24:25,400 --> 00:24:27,360 Speaker 1: earlier in the episode, we don't want automatic bill pay 529 00:24:27,400 --> 00:24:30,280 Speaker 1: to keep us completely ignorant to what our expenses are. 530 00:24:30,320 --> 00:24:32,320 Speaker 1: And I think sometimes that can be the case, but 531 00:24:32,440 --> 00:24:35,119 Speaker 1: you can save a lot of time by setting up 532 00:24:35,119 --> 00:24:38,159 Speaker 1: auto pay if a utility or service provider has that 533 00:24:38,240 --> 00:24:41,320 Speaker 1: as an option, every bill or payment that we can automate. Man, 534 00:24:41,320 --> 00:24:43,359 Speaker 1: we're setting it up because we don't want to forget, 535 00:24:43,440 --> 00:24:45,160 Speaker 1: and honestly, it's just a hassle to go in there, 536 00:24:45,200 --> 00:24:47,320 Speaker 1: log in and make the payment most of the time. 537 00:24:47,600 --> 00:24:50,199 Speaker 1: Taking that off my mental plate is just huge. But 538 00:24:50,280 --> 00:24:52,880 Speaker 1: like we mentioned earlier, that doesn't take away your responsibility 539 00:24:52,880 --> 00:24:55,760 Speaker 1: to kind of manually budget for those things. Automating those 540 00:24:55,760 --> 00:24:58,840 Speaker 1: payments is great. Just make sure you're still paying attention 541 00:24:59,040 --> 00:25:01,800 Speaker 1: to what you're ending. Yeah, Joe, you just briefly mentioned 542 00:25:01,840 --> 00:25:04,399 Speaker 1: this earlier, But just having that email show up in 543 00:25:04,400 --> 00:25:06,920 Speaker 1: your inbox and actually looking at that email right when 544 00:25:06,920 --> 00:25:08,400 Speaker 1: you get that new statement, and I think that can 545 00:25:08,440 --> 00:25:10,960 Speaker 1: be really helpful for folks because in that case, you're 546 00:25:10,960 --> 00:25:13,840 Speaker 1: not having to say manually enter that amount into how 547 00:25:13,920 --> 00:25:16,800 Speaker 1: much you're gonna pay, it's gonna automatically pay. But just 548 00:25:16,880 --> 00:25:19,199 Speaker 1: to see it and be presented with that information that 549 00:25:19,280 --> 00:25:20,960 Speaker 1: alone right there, it can be enough to kind of 550 00:25:21,000 --> 00:25:23,640 Speaker 1: nudge you in the right direction if you are overspending. 551 00:25:23,920 --> 00:25:25,760 Speaker 1: Another practice that we can take when it comes to 552 00:25:25,760 --> 00:25:29,200 Speaker 1: automating some of our money is setting up direct deposits 553 00:25:29,600 --> 00:25:32,199 Speaker 1: and not only doing that, but preferably doing this in 554 00:25:32,280 --> 00:25:36,440 Speaker 1: two different accounts to aid in savings. Right, investing, it's 555 00:25:36,440 --> 00:25:38,320 Speaker 1: really important. We talked about investing all the time, but 556 00:25:38,440 --> 00:25:41,480 Speaker 1: so is having money and a savings account. You know, Joe, 557 00:25:41,520 --> 00:25:43,240 Speaker 1: I think we're gonna do a show coming up soon 558 00:25:43,280 --> 00:25:45,520 Speaker 1: about liquidity and when it makes sense to have money 559 00:25:45,520 --> 00:25:47,399 Speaker 1: in savings, Like we don't want all of our money 560 00:25:47,440 --> 00:25:50,600 Speaker 1: going towards investing, but if you can have your money 561 00:25:50,720 --> 00:25:54,520 Speaker 1: auto deposited into an account that you don't touch, that 562 00:25:54,560 --> 00:25:57,640 Speaker 1: can make a major difference in your ability to save. Yeah, 563 00:25:57,680 --> 00:26:00,280 Speaker 1: and Acorns, by the way, is one of those eight 564 00:26:00,480 --> 00:26:04,479 Speaker 1: apps for helping you automate your savings. So yeah, it's 565 00:26:04,520 --> 00:26:08,119 Speaker 1: worth potentially signing up there. And you you mentioned at 566 00:26:08,200 --> 00:26:10,320 Speaker 1: one point your buddy who is able to save up 567 00:26:10,400 --> 00:26:13,360 Speaker 1: for an international golf trip through Acorns over a couple 568 00:26:13,400 --> 00:26:15,320 Speaker 1: of years time. And so yeah, I think people that 569 00:26:15,359 --> 00:26:17,560 Speaker 1: are having trouble maybe they don't want to do a 570 00:26:17,760 --> 00:26:20,879 Speaker 1: too account direct deposit for savings. Acorns can be this 571 00:26:21,000 --> 00:26:23,800 Speaker 1: other method of automation that can really help spur people 572 00:26:23,840 --> 00:26:26,639 Speaker 1: on towards saving money when they otherwise wouldn't have. But 573 00:26:26,720 --> 00:26:29,960 Speaker 1: let's get into another aspect of automation that you really 574 00:26:29,960 --> 00:26:33,240 Speaker 1: need to consider, and that's paying yourself first. And we 575 00:26:33,359 --> 00:26:36,280 Speaker 1: hear this term used often in personal finance, but let's 576 00:26:36,320 --> 00:26:39,040 Speaker 1: get practical. If you work for an employer that offers 577 00:26:39,040 --> 00:26:42,040 Speaker 1: a retirement plan, you can enroll and set a percentage 578 00:26:42,040 --> 00:26:44,399 Speaker 1: of your paycheck to be automatically with drawn so that 579 00:26:44,480 --> 00:26:47,439 Speaker 1: you're not even tempted to not save that money. And 580 00:26:47,480 --> 00:26:50,840 Speaker 1: this is particularly important if you have access to an 581 00:26:50,840 --> 00:26:53,560 Speaker 1: employer match. When we're talking about automating, of course, we 582 00:26:53,600 --> 00:26:55,840 Speaker 1: don't want to forget to pay a bill. That's really helpful, 583 00:26:56,000 --> 00:26:57,960 Speaker 1: but more than anything, we want to be able to 584 00:26:58,000 --> 00:27:01,760 Speaker 1: increase our savings, right We want to do better, save more, 585 00:27:02,119 --> 00:27:04,720 Speaker 1: and have more control over our financial lives. And that's 586 00:27:04,760 --> 00:27:07,800 Speaker 1: ultimately what automation can bring. So this is so important 587 00:27:07,840 --> 00:27:10,840 Speaker 1: in automation. Make sure that, in particular, if you have 588 00:27:10,880 --> 00:27:13,440 Speaker 1: an employer match, you bump up the amount that you're 589 00:27:13,440 --> 00:27:16,480 Speaker 1: investing to at least take full advantage of that. Right there, 590 00:27:16,520 --> 00:27:19,600 Speaker 1: that's automation success number one that you should be striving for. 591 00:27:20,080 --> 00:27:22,119 Speaker 1: Or on the other angel, if if you don't have 592 00:27:22,160 --> 00:27:25,280 Speaker 1: a work sponsored retirement plan like me, right. You can 593 00:27:25,320 --> 00:27:28,760 Speaker 1: even just have an automatic withdrawal set to your savings 594 00:27:28,840 --> 00:27:31,400 Speaker 1: or your WROTH accounts. What's a month. What is key here, though, 595 00:27:31,480 --> 00:27:34,200 Speaker 1: is that you are removing the option to not save 596 00:27:34,280 --> 00:27:37,199 Speaker 1: or invest your money because it's automatic. However, if your 597 00:27:37,200 --> 00:27:41,240 Speaker 1: income is variable and it fluctuates wildly to where there 598 00:27:41,280 --> 00:27:43,200 Speaker 1: are some months maybe that you don't even get paid, 599 00:27:43,520 --> 00:27:45,600 Speaker 1: then this is gonna be tougher to implement, right, But 600 00:27:45,680 --> 00:27:48,600 Speaker 1: you can still set up a process and a system 601 00:27:48,880 --> 00:27:51,800 Speaker 1: where you prioritize saving and investing first before you do 602 00:27:51,840 --> 00:27:54,240 Speaker 1: anything else. So, for example, let's say you don't get 603 00:27:54,240 --> 00:27:56,600 Speaker 1: paid for two months, and then when you do get 604 00:27:56,600 --> 00:27:58,119 Speaker 1: paid in that third month, right, maybe at the end 605 00:27:58,160 --> 00:27:59,879 Speaker 1: of the quarter, you know that the first thing you 606 00:27:59,880 --> 00:28:02,280 Speaker 1: do is that you work towards maxing out your wrath 607 00:28:02,400 --> 00:28:04,840 Speaker 1: ira A. What's key here is that it is an 608 00:28:04,880 --> 00:28:08,840 Speaker 1: automatic action, right, It's not this painful deliberation Every single 609 00:28:08,880 --> 00:28:11,880 Speaker 1: time that money gets deposited into your account. You can 610 00:28:11,880 --> 00:28:13,520 Speaker 1: work towards that rath r A or maybe you're just 611 00:28:13,560 --> 00:28:17,399 Speaker 1: setting aside a predecided percentage. Again, this is something that 612 00:28:17,560 --> 00:28:20,000 Speaker 1: is predecided upon. It's not something that in the moment 613 00:28:20,040 --> 00:28:22,280 Speaker 1: you're having to make that call. Maybe it's not quite 614 00:28:22,320 --> 00:28:26,359 Speaker 1: as automatic right as a work sponsored retirement plan, but again, 615 00:28:26,480 --> 00:28:29,120 Speaker 1: the process is what's automatic here, and that's what you're 616 00:28:29,119 --> 00:28:31,520 Speaker 1: going to make sure that you have in place before 617 00:28:31,520 --> 00:28:34,560 Speaker 1: the checks that even arrive. Yeah, the more deliberation that 618 00:28:34,680 --> 00:28:36,840 Speaker 1: you have to involve in the process, the less likely 619 00:28:36,880 --> 00:28:39,560 Speaker 1: you are to do a good job at taking that 620 00:28:39,640 --> 00:28:42,520 Speaker 1: money and and setting it aside for the future. Matt. 621 00:28:42,560 --> 00:28:44,080 Speaker 1: The other thing, and we mentioned it earlier in the 622 00:28:44,080 --> 00:28:46,800 Speaker 1: show briefly, was the automatic increases. And a lot of 623 00:28:46,800 --> 00:28:50,120 Speaker 1: employers are making this standard. Other employers are just giving 624 00:28:50,240 --> 00:28:53,120 Speaker 1: you this ability, you know, And I have this through 625 00:28:53,160 --> 00:28:55,560 Speaker 1: my employer, Like, it's not automatic, but I can choose, 626 00:28:55,840 --> 00:28:57,920 Speaker 1: you know that every year when I do get a raise, 627 00:28:58,000 --> 00:28:59,840 Speaker 1: I can bump up what I contribute one or two 628 00:29:00,080 --> 00:29:02,240 Speaker 1: sent or more, right, if I want to get super 629 00:29:02,240 --> 00:29:04,920 Speaker 1: boller with it. I think for folks whose employers are 630 00:29:05,040 --> 00:29:09,120 Speaker 1: basically auto enrolling them in those automatic increases, make sure 631 00:29:09,120 --> 00:29:11,160 Speaker 1: to leave those put. And if you have the ability 632 00:29:11,200 --> 00:29:14,920 Speaker 1: to go inside your plan and create those automatic increases 633 00:29:15,240 --> 00:29:18,400 Speaker 1: on your own, behalf. That's something you should be doing too. Yeah, 634 00:29:18,400 --> 00:29:21,040 Speaker 1: and Juel, you know, we were talking about automating the 635 00:29:21,080 --> 00:29:23,520 Speaker 1: amounts of money that goes towards retirement. But it's also 636 00:29:23,560 --> 00:29:26,360 Speaker 1: going to talk about where the money is going within 637 00:29:26,640 --> 00:29:29,280 Speaker 1: those retirement accounts. Right, for a lot of folks, if 638 00:29:29,280 --> 00:29:30,920 Speaker 1: they had to keep up with where their money was 639 00:29:30,960 --> 00:29:33,920 Speaker 1: being invested, they had to monitor the performance of different 640 00:29:33,920 --> 00:29:37,240 Speaker 1: companies and different funds. That process and just those steps 641 00:29:37,600 --> 00:29:39,280 Speaker 1: can not only be a hurdle, but I think it 642 00:29:39,320 --> 00:29:43,760 Speaker 1: could actually become an impassable barrier that keeps folks from 643 00:29:43,800 --> 00:29:46,560 Speaker 1: investing properly and investing the amount of money that they should. 644 00:29:46,840 --> 00:29:48,320 Speaker 1: And so a way to get around that and to 645 00:29:48,520 --> 00:29:51,719 Speaker 1: automate your retirement fund allocation is to look at target 646 00:29:51,880 --> 00:29:57,040 Speaker 1: day retirement funds. These funds are basically automatically reallocating their 647 00:29:57,040 --> 00:29:59,640 Speaker 1: selling funds. They're they're buying other funds based on the 648 00:29:59,680 --> 00:30:03,240 Speaker 1: priests standard that changes as you draw closer towards your 649 00:30:03,320 --> 00:30:05,720 Speaker 1: target retirement date. Yeah, normally you're gonna have to fool 650 00:30:05,760 --> 00:30:07,800 Speaker 1: around with that stuff yourself. Right, You're gonna have to 651 00:30:07,880 --> 00:30:10,800 Speaker 1: reallocate your money. And Matt, we like index funds that 652 00:30:10,920 --> 00:30:13,480 Speaker 1: track you know, the American stock market as a whole, 653 00:30:13,640 --> 00:30:16,520 Speaker 1: or even the world stock market as a whole. And yeah, 654 00:30:16,600 --> 00:30:19,520 Speaker 1: but a target retirement fund is another great option for 655 00:30:19,560 --> 00:30:21,920 Speaker 1: people in particular if they don't want to have to 656 00:30:22,000 --> 00:30:24,000 Speaker 1: ever think you don't have to mess with it at all. 657 00:30:24,160 --> 00:30:26,920 Speaker 1: You pick it once, never change it again, and that's 658 00:30:26,920 --> 00:30:29,120 Speaker 1: that's cool, And it's especially cool if you're one of 659 00:30:29,200 --> 00:30:31,680 Speaker 1: with one of the super low cost providers that charges 660 00:30:31,760 --> 00:30:35,120 Speaker 1: next to nothing to manage those funds, like Vanguard Fidelity. 661 00:30:35,200 --> 00:30:37,680 Speaker 1: Both are great. Yeah. Man. Also, I think it's fascinating 662 00:30:37,720 --> 00:30:39,840 Speaker 1: to think about the future of automation. I think there 663 00:30:39,880 --> 00:30:42,040 Speaker 1: are gonna be changes, but we've already seen in the 664 00:30:42,040 --> 00:30:46,000 Speaker 1: past few years companies creating amazing automation systems that are 665 00:30:46,040 --> 00:30:51,000 Speaker 1: helping consumers navigate the complexities of the financial world. We 666 00:30:51,080 --> 00:30:53,720 Speaker 1: mentioned Acorns, that's one of them. Better met in Wealth Front. 667 00:30:53,760 --> 00:30:55,640 Speaker 1: They kind of did that for investing, and then other 668 00:30:55,640 --> 00:30:57,520 Speaker 1: companies have kind of even improved on that, like in 669 00:30:57,640 --> 00:30:59,880 Speaker 1: one I think. But it's gonna be really interesting to 670 00:31:00,000 --> 00:31:02,880 Speaker 1: see how software has this role to play. We're already 671 00:31:02,960 --> 00:31:05,280 Speaker 1: using it and it's already benefiting us, but I think 672 00:31:05,280 --> 00:31:07,640 Speaker 1: the benefits are only going to increase in the upcoming years, 673 00:31:07,800 --> 00:31:09,680 Speaker 1: and the things that the software can do to help 674 00:31:09,760 --> 00:31:12,440 Speaker 1: us do better with our money automate more of our finances, 675 00:31:12,600 --> 00:31:14,800 Speaker 1: put our money in the right locations so that we 676 00:31:14,840 --> 00:31:17,400 Speaker 1: don't have to worry nearly as much. I think it's 677 00:31:17,400 --> 00:31:19,880 Speaker 1: gonna happen. I'm just interested to see how that plays 678 00:31:19,880 --> 00:31:22,480 Speaker 1: out and what companies end up creating the best products 679 00:31:22,720 --> 00:31:25,360 Speaker 1: for us to use. Yeah, Juel, you know, it's fascinating 680 00:31:25,440 --> 00:31:28,240 Speaker 1: right to think about what artificial intelligence, what that's gonna 681 00:31:28,240 --> 00:31:29,960 Speaker 1: look like for us, and what it's gonna look like 682 00:31:30,200 --> 00:31:34,080 Speaker 1: for our money. There's an article about artificial intelligence and 683 00:31:34,200 --> 00:31:37,360 Speaker 1: our money and how at some point, you know, it 684 00:31:37,440 --> 00:31:39,520 Speaker 1: might even be like Google Maps. Like there used to 685 00:31:39,560 --> 00:31:41,120 Speaker 1: be a day and age where everybody knew the names 686 00:31:41,160 --> 00:31:43,520 Speaker 1: of all the streets, and because you knew the names 687 00:31:43,520 --> 00:31:45,240 Speaker 1: of the streets, that's how you got to your destination. 688 00:31:45,680 --> 00:31:47,760 Speaker 1: But this article is equating the technology that we're gonna 689 00:31:47,760 --> 00:31:49,840 Speaker 1: have access to, how it's gonna be like Google Maps, 690 00:31:49,880 --> 00:31:52,080 Speaker 1: and essentially you just punch in your destination. You just 691 00:31:52,080 --> 00:31:54,400 Speaker 1: say this is where I want to be financially in 692 00:31:54,520 --> 00:31:58,080 Speaker 1: ten years or twenty years or thirty years, and these 693 00:31:58,080 --> 00:32:00,560 Speaker 1: are the steps you follow. And so we're not at 694 00:32:00,600 --> 00:32:02,760 Speaker 1: that point right now, though, right like we have to 695 00:32:02,760 --> 00:32:05,040 Speaker 1: be informed there are certain things we need to know 696 00:32:05,040 --> 00:32:07,120 Speaker 1: how to do. We need to know how to modify 697 00:32:07,120 --> 00:32:09,680 Speaker 1: our behavior and do those things right, because in the end, 698 00:32:10,040 --> 00:32:12,520 Speaker 1: nothing is going to actually make us do the things 699 00:32:12,760 --> 00:32:14,960 Speaker 1: that we say we want to do other than ourselves. 700 00:32:15,160 --> 00:32:17,640 Speaker 1: But it's crazy to think that. And maybe an app 701 00:32:17,640 --> 00:32:19,520 Speaker 1: on our phone that we can just puns in our 702 00:32:19,560 --> 00:32:23,520 Speaker 1: financial destination and arrive there if we do what that 703 00:32:23,560 --> 00:32:26,760 Speaker 1: app tells us to do. Yeah, it's called predictive financial software, 704 00:32:26,760 --> 00:32:29,640 Speaker 1: and it's just it's fascinating to think what that could do, 705 00:32:29,800 --> 00:32:33,160 Speaker 1: how that could be implemented into our lives via potentially 706 00:32:33,200 --> 00:32:35,239 Speaker 1: an app on your phone. Right, But ultimately, there are 707 00:32:35,240 --> 00:32:37,360 Speaker 1: some current steps we can take and some apps out 708 00:32:37,360 --> 00:32:40,160 Speaker 1: there to help us along the way towards automating our 709 00:32:40,200 --> 00:32:43,120 Speaker 1: finance as well, so that our money situation looks brighter 710 00:32:43,160 --> 00:32:45,160 Speaker 1: six months from now, a year from now, and it 711 00:32:45,240 --> 00:32:47,440 Speaker 1: kind of takes that wild card, which is our tendencies 712 00:32:47,440 --> 00:32:50,520 Speaker 1: towards handling money poorly out of the equation. Yeah, So 713 00:32:50,520 --> 00:32:52,280 Speaker 1: hopefully you can take some of the steps we just 714 00:32:52,320 --> 00:32:56,320 Speaker 1: mentioned and automate your finances. The steps you haven't taken, 715 00:32:56,560 --> 00:32:58,560 Speaker 1: we'd encourage you to jump on them, because we really 716 00:32:58,600 --> 00:33:00,880 Speaker 1: do think it's gonna have a major or impact on 717 00:33:00,920 --> 00:33:03,520 Speaker 1: how much you're able to save and the financial freedom 718 00:33:03,520 --> 00:33:06,440 Speaker 1: you're able to create in your life. Yeah, buddy, that's right, man. 719 00:33:06,520 --> 00:33:09,440 Speaker 1: So let's go ahead now and swing it back towards 720 00:33:09,440 --> 00:33:12,600 Speaker 1: the beer. On this episode, we enjoyed a Daglo I 721 00:33:12,720 --> 00:33:15,280 Speaker 1: p a by Allegion. This one was sent to us 722 00:33:15,320 --> 00:33:19,480 Speaker 1: by Joe from up there in Minnesota. He said these 723 00:33:19,480 --> 00:33:21,840 Speaker 1: were some of his favorites. So, Joe, thank you for 724 00:33:22,040 --> 00:33:24,880 Speaker 1: sharing one of your favorite I p a s with us. Joel, 725 00:33:24,920 --> 00:33:27,560 Speaker 1: what were your thoughts? And this was an interesting I PA. 726 00:33:27,560 --> 00:33:29,200 Speaker 1: I feel like it's different than a lot of the 727 00:33:29,200 --> 00:33:32,120 Speaker 1: ones we drink. This one had a lot more floral 728 00:33:32,200 --> 00:33:34,440 Speaker 1: notes to it, and I had some fruit mixed into that. 729 00:33:34,720 --> 00:33:36,960 Speaker 1: So yeah, I pas can take on all these different 730 00:33:37,000 --> 00:33:39,560 Speaker 1: notes depending on kind of how it's brewed and the 731 00:33:39,600 --> 00:33:41,800 Speaker 1: hops that are used, and this particular one had this 732 00:33:42,200 --> 00:33:45,040 Speaker 1: real flaoral bouquet going on in the nose and on 733 00:33:45,080 --> 00:33:47,520 Speaker 1: my taste, Budds, It's funny I pas never get old 734 00:33:47,560 --> 00:33:50,800 Speaker 1: to me because they are also unique and distinct, and 735 00:33:51,200 --> 00:33:54,480 Speaker 1: they're all beautiful snowflakes. Yeah, they really, they really are. Yeah. 736 00:33:54,560 --> 00:33:56,520 Speaker 1: So this one was good Man. I really appreciated the 737 00:33:56,560 --> 00:33:58,840 Speaker 1: allegian Daelo I p A so big. Thanks to Joe 738 00:33:58,920 --> 00:34:00,680 Speaker 1: for sending this one are away. Yeah, Budy, I thought 739 00:34:00,680 --> 00:34:03,160 Speaker 1: this was a really tasty I p A. The best 740 00:34:03,160 --> 00:34:04,720 Speaker 1: way I think I can describe it was that it 741 00:34:04,760 --> 00:34:07,640 Speaker 1: was it was fruity, but it's also like juicy and wet. 742 00:34:08,280 --> 00:34:09,800 Speaker 1: I think with a lot of the recent I p 743 00:34:09,880 --> 00:34:12,399 Speaker 1: as we've had that are dry hopped, in my mind, 744 00:34:12,920 --> 00:34:15,520 Speaker 1: they taste dryer. They kind of have that dry hot bitterness, 745 00:34:15,560 --> 00:34:17,480 Speaker 1: and so if you have a more traditional ip like this, 746 00:34:18,080 --> 00:34:20,120 Speaker 1: it's easy for my mind to go towards the fact 747 00:34:20,200 --> 00:34:22,640 Speaker 1: that these are kind of like juicy wet. It makes 748 00:34:22,640 --> 00:34:25,000 Speaker 1: me think of like a lemon pepper wet. Did you 749 00:34:25,000 --> 00:34:27,279 Speaker 1: ever get lemon pepper wings? I always go lemon pepper dry, 750 00:34:27,320 --> 00:34:30,320 Speaker 1: though lemon pepper wets the way to go. Is it really? Okay, 751 00:34:30,360 --> 00:34:32,680 Speaker 1: I'll give it a shot. This is a weird tangent, 752 00:34:33,040 --> 00:34:35,440 Speaker 1: but anyway, I want to describe this beer as fruity 753 00:34:35,480 --> 00:34:38,120 Speaker 1: juicy wet because that's just warm my heads. That tonight? Cool? 754 00:34:38,120 --> 00:34:39,720 Speaker 1: All right, buddy, that's gonna do it for this episode. 755 00:34:39,760 --> 00:34:42,160 Speaker 1: Thanks again to Joe for sending this beer are away. 756 00:34:42,440 --> 00:34:43,839 Speaker 1: And for folks that want to check out the show 757 00:34:43,880 --> 00:34:46,120 Speaker 1: notes or listening on our website, or check out the 758 00:34:46,120 --> 00:34:48,680 Speaker 1: other articles that we've got up on our website, just 759 00:34:48,680 --> 00:34:51,319 Speaker 1: go to how to money dot com. And if you're 760 00:34:51,320 --> 00:34:54,520 Speaker 1: listening to this episode and you have found something of value, 761 00:34:54,680 --> 00:34:56,400 Speaker 1: right like you, you you heard something that you know 762 00:34:56,480 --> 00:34:58,320 Speaker 1: you can implement into your life that's gonna make a 763 00:34:58,360 --> 00:35:00,960 Speaker 1: positive impact on your money. We would love for you 764 00:35:00,960 --> 00:35:03,000 Speaker 1: to head over to Apple Podcasts and leave us a review. 765 00:35:03,040 --> 00:35:05,359 Speaker 1: If you haven't done that already, you can do that there. 766 00:35:05,840 --> 00:35:07,960 Speaker 1: And wherever it is that you listen to your podcast, 767 00:35:08,040 --> 00:35:10,040 Speaker 1: make sure that you are subscribed, because that makes sure 768 00:35:10,080 --> 00:35:12,560 Speaker 1: that you don't miss out on any new future content 769 00:35:12,600 --> 00:35:15,160 Speaker 1: that we release that can provide more value for you. 770 00:35:15,480 --> 00:35:18,319 Speaker 1: All Right, buddy, that's it until next time. Best Friends Out, 771 00:35:18,400 --> 00:35:19,160 Speaker 1: Best Friends Out.