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Speaker 1: Welcome to Head of Money. I'm Joel, I'm Matt. Today

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Speaker 1: we're talking political money, planning, free electricity, and cash.

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Speaker 2: Who's cringe, you.

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Speaker 1: Know, buddy. This is our Friday flight.

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Speaker 3: We're going to get to the top stories from this

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Speaker 3: past week. What's you gotta know here about advent calendars?

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Speaker 3: Did you recently get one? Well, so we got a

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Speaker 3: hand me down advent calendar this way, how.

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Speaker 1: Do you hand me down? I'll tell you. I will

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Speaker 1: tell you.

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Speaker 3: Gosh, so I'm gonna go ahead and decide ahead of time.

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Speaker 3: Cheap at all, not frugal. No, it's actually really cool

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Speaker 3: and the kids are loving it. So it's like a

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Speaker 3: right Harry Potter funk funko pop is that.

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Speaker 2: What it's called.

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Speaker 1: The they're like these plastic figurines of of all the

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Speaker 1: Harry Potter figures and they I think they do them

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Speaker 1: for all sorts of different genres like Marvel Universe and

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Speaker 1: stuff like that, and so like every day they get

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Speaker 1: a new little Harry Potter funkle pop. It was from

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Speaker 1: my father in law. He's like, oh, use this before

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Speaker 1: with like and so now my kids are using it

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Speaker 1: and they're loving it so and it's super reusable.

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Speaker 3: Man.

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Speaker 1: Well, I don't get it.

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Speaker 3: The I the idea is that you break the perforated

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Speaker 3: paper and you unfold it and then you pull it

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Speaker 3: out and then you consume it. Normally, if that's food,

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Speaker 3: you eat it. But if it's a plaything, it means

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Speaker 3: you play with it. You can play with it. But

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Speaker 3: I guess they just keep the pieces and they kept

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Speaker 3: the piece of stick, stuck them back in.

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Speaker 1: Knucking back in. So funny, and we get it round

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Speaker 1: two maybe round two.

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Speaker 2: I love that.

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Speaker 1: Well, I love it too. So it's a free fun

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Speaker 1: advot calendar. But the all right, fine, I will I've

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Speaker 1: changed my vertio sign back to okay, back to thank

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Speaker 1: you what kicked me? Well? Maybe when I like mention this.

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Speaker 1: I saw this article in Harper's about the like the

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Speaker 1: beauty Bizarre.

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Speaker 2: Yeah.

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Speaker 1: I guess it's one of your go to no just

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Speaker 1: kind of randomly on it, okay, yeah, yeah. And it

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Speaker 1: was about super super fancy advent calendars that people are

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Speaker 1: using these days, where you get like makeup or jewelry

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Speaker 1: or perfume every day. There are some very very fancy ones.

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Speaker 1: Didn't realize that was a thing.

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Speaker 3: This This raises the stakes because you got the what

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Speaker 3: is it the Costco? And folks have even written to

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Speaker 3: us about the Costco Wine Calendar and they're like, it's

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Speaker 3: so good. There's some really good wines in there. I

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Speaker 3: totally get that as a way to even samples till

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Speaker 3: it goes on clearance.

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Speaker 1: Yeah, we can enjoy that in the new year. Yeah,

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Speaker 1: you'll go on the twenty sixth and get the left over.

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Speaker 3: There's a big, really big difference between your secondhand out

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Speaker 3: event Kellor, though, and some of these perfume ones that

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Speaker 3: are like hundreds of I've seen these before.

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Speaker 1: I've heard folks talk about them. What do you think

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Speaker 1: about those? It seems ridiculous to me, But I agree.

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Speaker 1: I don't wear perfume mat so maybe that's I wear

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Speaker 1: a scent you want to hear my take? Sure.

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Speaker 3: So there's two ways to think about it, or at

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Speaker 3: least the way I'm thinking about it, which is from

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Speaker 3: like a religious lens. Maybe I'll give you a unexpect

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Speaker 3: to take, which is from like a from a Christian lens.

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Speaker 3: I actually don't really mind, because I think a lot

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Speaker 3: of folks out there who are believers are gonna are

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Speaker 3: gonna say, oh my gosh, I can't believe, oh you

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Speaker 3: you actually aren't a real Christian blah blah blah.

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Speaker 1: But like because you support perfumeiacounter, I don't think that's

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Speaker 1: the apostles creen anywhare.

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Speaker 3: Well, And what is the for the majority of Americans

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Speaker 3: out there? How much does Christmas actually have to do

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Speaker 3: with the birth of Christ?

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Speaker 2: Very little?

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Speaker 3: And like, I mean, come on, like the advent season

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Speaker 3: is all about anticipation and waiting for the birth of

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Speaker 3: Christ and the ultimate you know, like they do a

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Speaker 3: second coming at some point off in the future as well,

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Speaker 3: But how many Americans actually subscribe to that?

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Speaker 1: For them?

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Speaker 3: Christmas is just Christmas, trees, Santa the twenty fifth, the

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Speaker 3: holidays very super generic and.

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Speaker 1: So from thing about and Easter bunnies.

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Speaker 3: Yeah, and so I guess from that standpoint, I don't

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Speaker 3: really care from a religious standpoint all that much. The

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Speaker 3: fact that it's you know, this holiday has been that

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Speaker 3: has been hijacked. And honestly, I do think that there

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Speaker 3: could be some good, like the more focused has brought

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Speaker 3: to the season, even if it's not like on the Mark,

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Speaker 3: I think can be good because I think it can

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Speaker 3: allow folks to be a bit more reflective, like you

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Speaker 3: are counting down days. Now what I expected you to say.

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Speaker 3: I know, see, I told you I've been thinking about

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Speaker 3: this recently. You're counting down the days, and just the

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Speaker 3: marking of time, I think is a good practice for folks.

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Speaker 3: That just puts them in touch with their waning days

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Speaker 3: here on earth, right like, And that is not something

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Speaker 3: that we often do as adults measuring time. So that

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Speaker 3: being said, from a personal finance standpoint, I totally hate

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Speaker 3: it because a lot of times it just it feels

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Speaker 3: so wasteful. Man, it feels so consumption based, it feels

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Speaker 3: so mindless, unless, for instance, you are You're like, oh

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Speaker 3: my gosh, this advent calendar, the perfume one has all

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Speaker 3: the sense, all the flavors, Oh this wine has all

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Speaker 3: these different brands or vineyards that I've been wanting to try.

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Speaker 3: And if you see it as a way to it's

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Speaker 3: like a giant sampler platter. Okay, I could see some

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Speaker 3: some benefit there, but I think it's the adults who

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Speaker 3: are latching on to the advant calendars that rubs me

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Speaker 3: the wrong. Like for kids, I'm like, okay, whatever, like

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Speaker 3: they it's fun, it's.

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Speaker 1: A little treat, it's a little toy.

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Speaker 3: They can have fun, but it's as grown ups kind

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Speaker 3: of latching onto this what feels a bit more like a.

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Speaker 1: Sort of juvenile thing. Yeah, I don't know.

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Speaker 3: I don't want to like yack on anyone's yum, but

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Speaker 3: like that's the part that feels like there are less

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Speaker 3: serious adults in the world.

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Speaker 1: Over they're smiling. Do you do you agree? I mean,

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Speaker 1: I just I think these things get so expensive and

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Speaker 1: so self indulgent. It's self indulgence. I just I'm just

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Speaker 1: not something that I would want to partake in, and

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Speaker 1: I do see it as just another form of consumption

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Speaker 1: in a season that is so marked by it. So

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Speaker 1: I don't know, but maybe we'll get off our high

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Speaker 1: horses and move on give to the rest of the

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Speaker 1: Friday flight. If it's something that you're partaking in very intentionally,

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Speaker 1: more power to you.

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Speaker 2: Yeah.

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Speaker 3: I think there are lots of different ways that we

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Speaker 3: can celebrate the holidays and bring some joy into our lives,

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Speaker 3: especially towards the end of the.

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Speaker 1: Year, for sure. All right, let's keep going, uh political conversations, Matt,

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Speaker 1: They are dominating financial planning conversations right now. This is

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Speaker 1: according to a recent survey of cfps, and half of

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Speaker 1: those cfps say that politics and policy fallout are essentially

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Speaker 1: unavoidable topics right now, that every time we're most of

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Speaker 1: the time when a client is coming into a meeting

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Speaker 1: with them, politics is at the forefront of the conversation,

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Speaker 1: or at least it's a meaningful part of it. I

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Speaker 1: think in some ways that's understandable, right, Like, we've had

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Speaker 1: meaningful changes policy changes in recent years that don't just

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Speaker 1: impact our spending and savings rates, they can have a

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Speaker 1: real impact on our tax rate, which account we choose

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Speaker 1: to invest in, even new counts being brought to bear,

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Speaker 1: right like the Trump accounts that we talked about last week,

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Speaker 1: whether or not we take the standard deduction, Like, these

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Speaker 1: are all really big things, and political moves is essentially

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Speaker 1: have essentially made them a necessary part of the conversation.

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Speaker 1: And that's part of the reason that the Friday flight exists, right, Like,

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Speaker 1: those conversations matter and they really do impact how we

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Speaker 1: proceed on our wealth building journey. That's why we talk about, Hey,

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Speaker 1: what's going on in the news right now and how

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Speaker 1: does it impact you? Because it, Yeah, there are regularly

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Speaker 1: things that come about in uh from a political and

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Speaker 1: policy perspective that will touch your finances. But I also

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Speaker 1: think it's important to note that focusing too much on

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Speaker 1: politics or fixating on potential changes in government or policy

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Speaker 1: can also leave us feeling stuck. And it leaves a

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Speaker 1: lot of people doing things that are in their own

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Speaker 1: worst interest.

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Speaker 3: Yeah, as they're overly fixating on like the more speculative

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Speaker 3: news as opposed to the actual changes.

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Speaker 1: Or even just saying like, oh my party, that one

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Speaker 1: that I support didn't get elected, maybe I should. That's

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Speaker 1: that's the worst way to interpret any sort of political

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Speaker 1: d's like from a policy stay going downhill now.

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Speaker 3: So yeah, yeah, you are definitely going to shoe yourself

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Speaker 3: on the foot of history. That's just like never the case. Yeah,

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Speaker 3: I think you can make minor pivots, but also consider

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Speaker 3: tuning out just the bonkers and the problematic news cycle.

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Speaker 3: And most folks are according to Pew. My favorite part

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Speaker 3: there's a survey that they conducted in My favorite part

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Speaker 3: of the survey was that most people they have an

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Speaker 3: optimistic outlook about their ability to achieve the goals that

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Speaker 3: they have in the coming year. This is one of

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Speaker 3: those instances again where it's just like everything's going to

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Speaker 3: hell in a hand basket. But I think I'm gonna

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Speaker 3: be okay next year.

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Speaker 1: Yeah.

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Speaker 3: These folks, they've rightly identified that they should be investing

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Speaker 3: like an optimist. The pessimists are their own worst enemy.

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Speaker 3: Another story we saw was about, as we're talking about

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Speaker 3: investing here, Joel, it was about women who were guessing

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Speaker 3: about how much they're going to need in retirement. And

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Speaker 3: this is I think that was the headline just to

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Speaker 3: catch the eyeballs. But let's be honest, everyone does this.

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Speaker 3: Men do this too, so we're gonna speak to both.

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Speaker 3: It's really hard to perfectly know how much you should

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Speaker 3: be aiming to amass in your nest egg in your

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Speaker 3: retirement account. We don't know what the market's going to do.

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Speaker 3: We don't know how our lives are going to end

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Speaker 3: up unfolding. We don't we don't know how long we're

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Speaker 3: going to live. Right, There's a big difference in what

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Speaker 3: your investments and maybe specifically you're spending. What that might

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Speaker 3: look like if you were if you knew you were

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Speaker 3: only going to live to age seventy five as opposed

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Speaker 3: to age ninety five, So I would I would say

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Speaker 3: fixate less on the number that you're you're aiming for,

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Speaker 3: and just more like.

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Speaker 1: Two million or one point five million headline number.

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Speaker 3: And more on what you can control and I and

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Speaker 3: just knowing that you've got some sort of flexibility when

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Speaker 3: it comes to retirement.

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Speaker 1: You're not locked. That's the thing.

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Speaker 3: Any as you are looking off to the future anything

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Speaker 3: that like you are picturing just what a typical year

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Speaker 3: might look like from a spending standpoint, But whatever it

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Speaker 3: is that you're identifying, it's not going to be that

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Speaker 3: year in and year out. It's going to be very dynamic.

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Speaker 3: There's gonna be up, so there's going to be downs.

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Speaker 3: And I think the I don't know, the more comfortable

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Speaker 3: this is something maybe I'm speaking from my personal experience,

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Speaker 3: but the more comfortable I get with knowing that life

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Speaker 3: might li look very different in the future, I don't know.

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Speaker 3: It just puts me at ease knowing that, like we've

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Speaker 3: got the ability to pivot a little bit, to change

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Speaker 3: our expectations, and that it's not going to lead to

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Speaker 3: the end.

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Speaker 1: Of our personal world.

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Speaker 2: Yeah, yep, I agreed.

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Speaker 3: What if electricity were free, you'd like that when people

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Speaker 3: would uh over consume it. That's true that it's true

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Speaker 3: when you make it good ridiculous to cheap, then people

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Speaker 3: are gonna But and now that electricity has gotten more expensive,

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Speaker 3: I wonder if people are dialing back their usage because

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Speaker 3: and they're being more thoughtful about like where they set

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Speaker 3: the thermostat, and especially this winter, like putting on some

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Speaker 3: extra extra clothes.

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Speaker 1: So that's what I'm telling my kids right now. It's frustrating.

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Speaker 2: You know.

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Speaker 3: Our latest hack quote unquote hack is that we so

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Speaker 3: we keep the heat upstairs where we sleep set to sixty,

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Speaker 3: which is pretty chilly as quite a lot of folks,

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Speaker 3: but we all, every one of us loves it to

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Speaker 3: be cooler at night. And then I'll crank it up

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Speaker 3: this This indicates too that I've got this manual, dumb

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Speaker 3: thermostat and I can't wait to replace it in the

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Speaker 3: coming year. With the state energy tax credit where they

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Speaker 3: make it superfortable, you can only do two a year,

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Speaker 3: so I replaced two last year, going to replace the

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Speaker 3: third this coming year. Just a heads up for everybody

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Speaker 3: on my personal plans when it comes her h back.

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Speaker 3: But I will crank it up in the morning. That way,

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Speaker 3: it's not brutally painful. As you know, everyone's getting ready

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Speaker 3: for school. Getting ready to start their day. But then

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Speaker 3: I crank it back down to sixty degrees. That being

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Speaker 3: said that, I see something very similar. Our biggest pain

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Speaker 3: point is getting in and out of the shower. Kate

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Speaker 3: especially hates it.

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Speaker 1: She like, she's like, I don't like getting out of

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Speaker 1: the shower.

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Speaker 3: It is pretty good freezing. So I remembered that we

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Speaker 3: had some radiator radiator style electric heaters in our storage

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Speaker 3: shed out out back. So I want to grab that

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Speaker 3: bad boy. Yeah, dusted it off, and I was like,

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Speaker 3: talked about that not long ago. The space heater's baby.

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Speaker 1: That's right. Well, it was in the back of my

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Speaker 1: mind still, I guess brought it in. Crank that thing up.

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Speaker 1: And now anytime she by the time she gets out

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Speaker 1: of the shower, it's nice and toasty in there.

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Speaker 2: Feels good.

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Speaker 1: Man, here you go.

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Speaker 3: We don't need the heat the entire house just when

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Speaker 3: we're getting out of the shower.

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Speaker 1: Yeah. Well, if electric here, we're free year back to electricity,

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Speaker 1: people would people would use a lot of it. Well,

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Speaker 1: this author Leah Stokes, she recently proposed in the Atlantic

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Speaker 1: that maybe electricity should be free and basically her proposal

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Speaker 1: was that electricity should be cheaper, if not completely free,

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Speaker 1: just in the middle of the day, right because like

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Speaker 1: maybe like noon to two or something like that. Why well,

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Speaker 1: she says, because the grid is more overloaded at night,

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Speaker 1: and it would bring down costs of nighttime demand. People

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Speaker 1: woul demand less electricity in the evening if they did

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Speaker 1: use their electricity more during the day, right, So, and

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Speaker 1: the only way really to do this is to strongly

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Speaker 1: incentivize people to use those electric heavy electricity heavy appliances

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Speaker 1: when there's less demand. Some places like San Diego are

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Speaker 1: trying this. Some electric companies have kind of taken the

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Speaker 1: carrot and the stick approach. You can opt for a

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Speaker 1: plan with a lower rate during off peak hours and

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Speaker 1: higher ones during peak hours. So you're kind of like

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Speaker 1: spreading that window of how much you can you pay

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Speaker 1: on acy can be dirt cheap at certain parts of

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Speaker 1: the day and even more expensive than it normally is

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Speaker 1: it other parts. They to incentivize you to use that

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Speaker 1: electricity at the time that's most convenient for the power company,

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Speaker 1: right yeah. Yeah, that reduces the strain on the grid,

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Speaker 1: that's right. Yeah. And so similar to tracking our expenses,

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Speaker 1: we're all more likely to make a change if we're

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Speaker 1: aware of our usage, and we're incentivized positively and negatively

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Speaker 1: to act differently. The less energy we use, less infrastructure

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Speaker 1: that's needed, which would lower our costs. Makes me think, Matt,

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Speaker 1: we have a listeners who have like electric cars, and

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Speaker 1: they've written in about the power plan that they're on.

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Speaker 1: They save a ton of money by being really thoughtful

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Speaker 1: about the plan they pick and then being incredibly thoughtful

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Speaker 1: as well about when they're using electricity, whether it's dish washer,

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Speaker 1: washer dry or stuff like that, and when they're charging

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Speaker 1: their cars. And it's not just for people with evs

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Speaker 1: like these players exist seak hours super off peak. You've

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Speaker 1: got to be willing to change your habits their habits

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Speaker 1: a little bit. Yeah, yeah, I do.

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Speaker 3: I wouldn't be surprised that some folks who are like, well,

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Speaker 3: that's great here, but sorry, I've got a job, so

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Speaker 3: I can't do laundry in the middle of the day,

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Speaker 3: I can't do all my cooking and the way I

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Speaker 3: robot It's what I would say to that, But I mean,

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Speaker 3: what I would say to that truly is that like, well, yeah,

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Speaker 3: like you have to introduce the incentives and create the

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Speaker 3: systems that help to reduce the strain on a system,

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Speaker 3: right that, Like, wherever there's stress because of the fact

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Speaker 3: that it's a limited resource, you do what you can to,

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Speaker 3: like you said, sort of spread out that consumption and

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Speaker 3: you get to a certain point, Like if it was free,

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Speaker 3: I bet there would be some folks would consider, like

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Speaker 3: you know what, like between childcare and taxes, just everything else,

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Speaker 3: the part time job is looking a little bit less attractive.

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Speaker 3: We could nix that bill. Oh also slight bonus. We're

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Speaker 3: paying basically nothing for electricity during the day. These are

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Speaker 3: pros and cons right, and you have to weigh the expense.

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Speaker 3: You have to weigh the trade offs between what it

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Speaker 3: is that seems like the same dunk decision, which is

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Speaker 3: working to make more money versus Oh, maybe there are

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Speaker 3: some other ways here that we can save a whole

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Speaker 3: lot of money that would render that potential job and

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Speaker 3: if less effective.

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Speaker 1: I'd love to see more of this though. I think

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Speaker 1: there's so many ways that we can incentivize people to

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Speaker 1: do the to change their behavior. Like I remember seeing

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Speaker 1: the study from Great Britain back in the day, and

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Speaker 1: when people were just aware of how much it was

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Speaker 1: costing them. Let's say to boil their tea, like to

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Speaker 1: boil boil water to make tea. They were just more

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Speaker 1: thoughtful about when and how they did it, and when

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Speaker 1: electricity costs less, like they were like, oh yeah, mamma,

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Speaker 1: have my tea then, and I just people will make

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Speaker 1: those decisions. It's when it's opaque how much it's costing.

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Speaker 1: You just get your bill at the end of the

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Speaker 1: month and you're like, ah, it's expensive. Budget billing or

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Speaker 1: what's it call it? When well, budget billing is the

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Speaker 1: way to make it feel less like that where you

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Speaker 1: are essentially immune to your cons insulate you. Yeah, even

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Speaker 1: I don't right. We want the opposite so that you're

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Speaker 1: even more aware so you can make the changes to

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Speaker 1: save yourself money.

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Speaker 3: Instead of budget building was called it like acute consumption budgeting,

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Speaker 3: like where you really feel the like, oh I want

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Speaker 3: them to be a similar electrode. When we turn something onwards,

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Speaker 3: it's like, oh, oh yeah, that is costing us some money.

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Speaker 2: I think.

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Speaker 1: Yeah. Zapping people into the right behavior is the way

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Speaker 1: to go.

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Speaker 3: Electrotherapy. Yeah, it's always worked. Let's talk about the job markets.

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Speaker 3: A lot of us have seen that it is cooled,

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Speaker 3: if not frozen as of late, and well, the reasons

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Speaker 3: for that are pretty complex, but AI is certainly one

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Speaker 3: of those reasons. And there's a new study from MIT

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Speaker 3: that finds that AI is currently essentially it has the

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Speaker 3: capacity to replace almost twelve percent of the workforce. Actually

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Speaker 3: it's eleven point seven to be exact. And it's based

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Speaker 3: on something called the Iceberg Index, which is this forward

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Speaker 3: looking index that's attempting to forecast how AI is going

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Speaker 3: to impact the job market. And you know, the study

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Speaker 3: is not saying that we should expect mass layoffs any

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Speaker 3: day now, but it is saying that AI has the

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Speaker 3: capabilities to do.

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Speaker 1: Even more now.

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Speaker 3: And I think a lot of its capabilities are only

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Speaker 3: now being discovers as folks are discovering applications for it.

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Speaker 1: Trying to integrate it into the workforce, Like it's just

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Speaker 1: happening more and more.

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Speaker 3: Yeah, their typical sort of work day. And so this

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Speaker 3: doesn't mean that folks should be shaken in their boots,

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Speaker 3: but I do think we should continue to pay attention

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Speaker 3: to our network and to growing our skills in order

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Speaker 3: to thrive in an economy that's going to be more

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Speaker 3: AI dependent and to get super meta with it. Joel

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Speaker 3: I wonder if listeners have noticed that, like all the

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Speaker 3: you're not real anymore, this is all AI super accurate. No,

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Speaker 3: the fact that I heart the little stinger at the

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Speaker 3: beginning of the podcast. Now it says guaranteed human, which

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Speaker 3: is like the most dystopian, crazy y five thing that

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Speaker 3: I think has happened.

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Speaker 2: Yet.

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Speaker 3: You know, like we all wanted flying cars in the future,

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Speaker 3: and we didn't really get flying cars because not yet.

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Speaker 3: I don't think we're ever going to have flying cars

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Speaker 3: because they're gonna be too noisy. Like think about how

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Speaker 3: loud little drones are. Nobody likes that sound, so flying

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Speaker 3: cars will never be at least self driving cars. I'll

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Speaker 3: take that. Self driving is that is the future. But

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Speaker 3: instead of getting flying cars, instead we got AI chatbots, yeah,

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Speaker 3: that we all get to listen to or interact with.

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Speaker 1: And some of which we get to fall in love with.

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Speaker 1: If we're so inclined, I would avoid it. If how

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Speaker 1: were you wouldn't do that, Okay, But friend of the

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Speaker 1: show Allison Schreger Matt she actually tended to disagree with

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Speaker 1: this study, and I really liked her take. She wrote

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Speaker 1: that AI is going to cause a shortage actually of

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Speaker 1: skilled workers and then much of the population isn't really

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Speaker 1: able to make the most of this technology. I think,

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Speaker 1: when it comes down to it, at least in its

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Speaker 1: current iteration, AI can be a solid tool, but like

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Speaker 1: we've been saying, like it's not a great replacement for

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Speaker 1: humans who have wisdom and judgment. There's still a lot

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Speaker 1: of AI hallucination, there's a lot of inaccurate information, and

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Speaker 1: I just think critical thinking might be the most needed

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Speaker 1: skill right now out there in the workforce. Total communication,

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Speaker 1: great writing skills. You're like, oh, chuchud do the writing

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Speaker 1: for me? Well, no it can't. Well you can. It

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Speaker 1: might be somebody you're writing.

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Speaker 3: It can do the writing for you, but are you

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Speaker 3: writing about the right thing? And that's up to you

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Speaker 3: to decide whether or not you are even in the

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Speaker 3: right direction.

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Speaker 1: Even still, like when you read somebody who's a great writer,

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Speaker 1: like a, I can't match that. It just can't from

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Speaker 1: what I've seen. Maybe maybe someday, not yet, not yet.

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Speaker 1: And I think maybe what it boils down to is

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Speaker 1: that AI can do a lot of tasks, but it

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Speaker 1: can't do a job. So maybe AI proficiency or feeling

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Speaker 1: like depending on what you do, knowing how to use

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Speaker 1: it in the context of your work can help you

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Speaker 1: get ahead or at least be less redundant knowing how

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Speaker 1: to use AI effectively. But AI coming for jobs, I

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Speaker 1: think there's less truth to that than maybe some of

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Speaker 1: the headlines want us to think. Yeah, I totally agree, Joey.

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Speaker 1: We've got more to get to.

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Speaker 3: We're going to talk about how gen Z, how they

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Speaker 3: essentially want to rent everything own nothing. We'll get to

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Speaker 3: that more after this.

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Speaker 1: Our we're back. It's time to get to the ludicrous

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Speaker 1: headline of the week. This one comes from Business Insiders.

439
00:20:13,880 --> 00:20:15,080
Speaker 1: I'm actually excited about.

440
00:20:15,520 --> 00:20:17,320
Speaker 3: I feel like we've got a bunch of ludicrous stories

441
00:20:17,720 --> 00:20:19,280
Speaker 3: here in the second Yeah, in the second half.

442
00:20:19,320 --> 00:20:22,040
Speaker 1: Some of these really could have There could be multiplets,

443
00:20:23,200 --> 00:20:25,720
Speaker 1: So yeah, get ready to hold on to your hast

444
00:20:26,040 --> 00:20:29,359
Speaker 1: the seat of your pants. Here. The Business Insider article

445
00:20:29,400 --> 00:20:32,000
Speaker 1: is titled for gen Z, cash isn't king, It's a joke.

446
00:20:32,680 --> 00:20:35,639
Speaker 1: And when you look at the stats, of course, cast

447
00:20:35,680 --> 00:20:39,920
Speaker 1: you to cash usage has been on the decline for years.

448
00:20:40,280 --> 00:20:42,760
Speaker 1: I think it's used now for just something like ten

449
00:20:42,800 --> 00:20:45,280
Speaker 1: percent of overall transactions, maybe a little bit more than that.

450
00:20:45,680 --> 00:20:47,480
Speaker 1: So cash is no longer the norm.

451
00:20:48,119 --> 00:20:48,640
Speaker 2: I don't know, Matt.

452
00:20:48,640 --> 00:20:50,320
Speaker 1: I was talking with somebody about this the other day.

453
00:20:50,359 --> 00:20:52,720
Speaker 1: I just don't like coins jingling around in my pocket,

454
00:20:52,720 --> 00:20:56,680
Speaker 1: even if it's a small purchase. I'm like, thirty two cents, Well, gosh,

455
00:20:56,680 --> 00:20:58,920
Speaker 1: that's like two pennies and a nickel and a horner,

456
00:20:58,920 --> 00:21:01,280
Speaker 1: and I'm just I hate that stuff jingling around. So

457
00:21:01,520 --> 00:21:03,680
Speaker 1: it's probably one of the most annoying things. Part of

458
00:21:03,680 --> 00:21:05,600
Speaker 1: the reason I stay away from cash.

459
00:21:05,960 --> 00:21:06,080
Speaker 2: Uh.

460
00:21:06,480 --> 00:21:08,800
Speaker 1: Even after that conversation we had with Jazy Gorski back

461
00:21:08,800 --> 00:21:10,359
Speaker 1: in episode nine ninety five where he was trying to

462
00:21:10,359 --> 00:21:12,600
Speaker 1: convince us to use cash, I just right done it,

463
00:21:12,680 --> 00:21:14,800
Speaker 1: old jay Z, I've done it, maybe a little bit more,

464
00:21:14,920 --> 00:21:17,119
Speaker 1: but not as much as he would like. I haven't

465
00:21:17,200 --> 00:21:21,040
Speaker 1: increased money cash cash usage at all. Really, Yeah, I feel.

466
00:21:20,760 --> 00:21:23,639
Speaker 3: Bad because, yeah, for all the reasons that he said

467
00:21:23,720 --> 00:21:25,639
Speaker 3: it's important for us to occasionally use it.

468
00:21:25,800 --> 00:21:28,920
Speaker 1: Yeah, well, I keep some cash on hand always because

469
00:21:28,920 --> 00:21:31,240
Speaker 1: you just never know. And also like, uh, we still

470
00:21:31,240 --> 00:21:33,560
Speaker 1: I don't go to restaurants with like valets often have,

471
00:21:33,680 --> 00:21:35,719
Speaker 1: but I would just recently and I was like, oh man,

472
00:21:35,720 --> 00:21:37,119
Speaker 1: I'm so glad I have some cash. Where'd you go?

473
00:21:37,359 --> 00:21:37,760
Speaker 2: You went to some.

474
00:21:39,760 --> 00:21:42,320
Speaker 1: In town restaurants. Oh, I know what you're talking about

475
00:21:42,400 --> 00:21:43,080
Speaker 1: is going to close.

476
00:21:44,560 --> 00:21:47,280
Speaker 3: Oh otherwise Oh yeah, that place always always has had

477
00:21:47,320 --> 00:21:47,720
Speaker 3: a valet.

478
00:21:47,800 --> 00:21:49,960
Speaker 1: Yeah, and it's closing and we're like, we got to

479
00:21:50,000 --> 00:21:52,520
Speaker 1: go before it's gone. Pouring out a lot of good

480
00:21:53,040 --> 00:21:56,720
Speaker 1: memories there. Okay, but gen Z years, because cash is

481
00:21:56,760 --> 00:21:59,280
Speaker 1: no longer the norm cash having cash has kind of

482
00:21:59,280 --> 00:22:04,080
Speaker 1: created these weird for them. Previous generations of non digital natives,

483
00:22:04,359 --> 00:22:08,280
Speaker 1: they struggled with controlling credit card usage right, digitally spending

484
00:22:08,320 --> 00:22:11,200
Speaker 1: and reconciling those transactions, and that was the odd new thing.

485
00:22:11,720 --> 00:22:15,120
Speaker 1: But now the opposite is true. For younger folks. Gen

486
00:22:15,200 --> 00:22:18,920
Speaker 1: Zers consistently report that cash feels like it doesn't exist,

487
00:22:19,480 --> 00:22:23,399
Speaker 1: and they use it like fun money and like cash

488
00:22:23,480 --> 00:22:26,120
Speaker 1: is still tangible though, right, and it can either help

489
00:22:26,200 --> 00:22:29,000
Speaker 1: or hurt your progress that you're making towards your financial goals.

490
00:22:29,040 --> 00:22:31,639
Speaker 1: And so to use cash or credit card, to use

491
00:22:31,640 --> 00:22:35,040
Speaker 1: any form of money that comes into your life as

492
00:22:35,080 --> 00:22:36,960
Speaker 1: willy nilly, because it's like fake, it's not it doesn't

493
00:22:37,000 --> 00:22:40,360
Speaker 1: feel real. It doesn't make sense to me. I get

494
00:22:40,520 --> 00:22:43,320
Speaker 1: the propensity, but I just don't think it's wise. It's

495
00:22:43,400 --> 00:22:45,360
Speaker 1: totally fine, I think to use cash that you get

496
00:22:45,359 --> 00:22:48,440
Speaker 1: for like a birthday or for the holidays to splurch.

497
00:22:48,960 --> 00:22:50,840
Speaker 1: But if you treat all physical money as though it's

498
00:22:50,880 --> 00:22:53,680
Speaker 1: not real, it's gonna have consequences. That's right.

499
00:22:53,760 --> 00:22:55,720
Speaker 3: Yeah, cash is in fact real, and I think some

500
00:22:55,760 --> 00:22:59,040
Speaker 3: of those habits could even bleed into like how it

501
00:22:59,080 --> 00:23:01,320
Speaker 3: is that use credit card, how you use your your

502
00:23:01,320 --> 00:23:04,960
Speaker 3: digital dollars. I think one solution is to maybe put

503
00:23:05,080 --> 00:23:06,720
Speaker 3: all of your cash into an envelope to help you

504
00:23:06,760 --> 00:23:09,640
Speaker 3: to save for just a bigger expense, like a vacation. Right,

505
00:23:09,640 --> 00:23:12,119
Speaker 3: Like you got a jar, pretty big jar, and you're

506
00:23:12,119 --> 00:23:15,000
Speaker 3: throwing change, you're throwing bills in there. But Joe, speaking

507
00:23:15,000 --> 00:23:16,800
Speaker 3: of young people, this is the story.

508
00:23:16,840 --> 00:23:18,240
Speaker 1: I was actually like that idea. By the way, can

509
00:23:18,280 --> 00:23:20,479
Speaker 1: I just say, having the envelope and then you're like,

510
00:23:20,560 --> 00:23:23,800
Speaker 1: instead of frittering it away, you're putting it towards something bigger,

511
00:23:23,800 --> 00:23:26,240
Speaker 1: fake money, towards a real thing that you want to accomplish.

512
00:23:26,280 --> 00:23:26,760
Speaker 1: That's a big one.

513
00:23:26,800 --> 00:23:28,720
Speaker 3: Yeah, totally, Okay, So this is this the story I

514
00:23:28,760 --> 00:23:31,560
Speaker 3: was excited about. I wanted to mention how young people

515
00:23:31,600 --> 00:23:35,920
Speaker 3: we're talking about gen z, adult kids paying rent and

516
00:23:36,200 --> 00:23:38,879
Speaker 3: maybe this shouldn't have surprised me. But apparently sixty percent

517
00:23:38,920 --> 00:23:43,320
Speaker 3: of kids don't contribute a dime towards their household expenses.

518
00:23:43,720 --> 00:23:47,400
Speaker 1: And not not just like kids, but adult chill exactly

519
00:23:47,400 --> 00:23:49,600
Speaker 1: because your kids don't contribute, but they they don't.

520
00:23:49,680 --> 00:23:52,199
Speaker 3: But guess what things are going to change when they

521
00:23:52,200 --> 00:23:54,879
Speaker 3: are they are adults. And I'm not even kidding this

522
00:23:54,960 --> 00:23:58,600
Speaker 3: is a conversation. I mean basically, then the story talked

523
00:23:58,600 --> 00:24:01,359
Speaker 3: about how parents are financially harmed because they're like, oh

524
00:24:01,359 --> 00:24:03,439
Speaker 3: my gosh, I'm barely able to send money aside from

525
00:24:03,440 --> 00:24:06,240
Speaker 3: my own retirement. In addition to that, like, what are

526
00:24:06,240 --> 00:24:07,160
Speaker 3: you teaching your kids?

527
00:24:07,200 --> 00:24:07,320
Speaker 2: Right?

528
00:24:07,400 --> 00:24:10,320
Speaker 3: You're teaching that, oh, we're always going to be there

529
00:24:10,320 --> 00:24:12,760
Speaker 3: for you, and yes, you should always be there for them,

530
00:24:12,920 --> 00:24:15,200
Speaker 3: but how are you also equipping them to be real

531
00:24:15,240 --> 00:24:17,080
Speaker 3: adults out Oh my gosh. This kind of goes back

532
00:24:17,080 --> 00:24:19,639
Speaker 3: to the whole advent sort of adult advent. Counter is

533
00:24:19,640 --> 00:24:23,200
Speaker 3: a little bit like, teach them to be functioning, contributing

534
00:24:23,200 --> 00:24:26,680
Speaker 3: members of society. And I think you're there's a potential

535
00:24:26,720 --> 00:24:29,800
Speaker 3: there's a possibility for them to not learn that lesson

536
00:24:29,840 --> 00:24:31,840
Speaker 3: if they aren't having to chip in at all when

537
00:24:31,880 --> 00:24:36,000
Speaker 3: it comes to groceries or cleaning the house or paying

538
00:24:36,200 --> 00:24:38,800
Speaker 3: and not even talking about market rent, but just something

539
00:24:39,040 --> 00:24:41,159
Speaker 3: to where they've got some skin in the game. And

540
00:24:41,200 --> 00:24:44,280
Speaker 3: this is something that I'm gonna give my parents mad credit.

541
00:24:44,400 --> 00:24:47,040
Speaker 3: This is a conversation that we started having when I

542
00:24:47,080 --> 00:24:49,960
Speaker 3: was like thirteen years old, where my dad was just like,

543
00:24:50,080 --> 00:24:53,040
Speaker 3: guess what, once you graduate high school, you're gonna start

544
00:24:53,040 --> 00:24:55,200
Speaker 3: if you want to live here, you're gonna start paying rent.

545
00:24:55,200 --> 00:24:57,399
Speaker 2: What if he was like, when you're fifteen, five hundred

546
00:24:57,400 --> 00:24:57,679
Speaker 2: bucks a.

547
00:24:57,640 --> 00:25:00,600
Speaker 1: Month, I think that would have been not fair because

548
00:25:00,600 --> 00:25:01,760
Speaker 1: I'm like, why did you bring me into this world?

549
00:25:01,840 --> 00:25:02,040
Speaker 2: Dad?

550
00:25:02,080 --> 00:25:05,080
Speaker 1: But could have created some strife And guess what, like, let's.

551
00:25:04,920 --> 00:25:07,320
Speaker 3: Be honest, our parents don't always get everything right. Like

552
00:25:07,320 --> 00:25:11,159
Speaker 3: we shouldn't just like blindly adopt the parenting methods that

553
00:25:11,680 --> 00:25:15,360
Speaker 3: I think are your parents employed. Perhaps you should think

554
00:25:15,359 --> 00:25:16,879
Speaker 3: critically about it. But and this is one that I

555
00:25:16,960 --> 00:25:18,959
Speaker 3: thought about and I thought, oh my gosh, that was

556
00:25:19,119 --> 00:25:20,800
Speaker 3: such a great way to get me thinking about it.

557
00:25:20,800 --> 00:25:23,159
Speaker 3: Because my parents wanted to make sure that I successfully

558
00:25:23,240 --> 00:25:26,760
Speaker 3: launched out into the world. And if I was hanging

559
00:25:26,800 --> 00:25:28,560
Speaker 3: out because I was incentivized to you because I had

560
00:25:28,600 --> 00:25:30,320
Speaker 3: a free place to stay and Mom's cooking and oh,

561
00:25:30,320 --> 00:25:31,400
Speaker 3: she's also doing my laundry.

562
00:25:31,560 --> 00:25:33,440
Speaker 1: They saw that Matthew McConaughey movie, and they were like,

563
00:25:33,480 --> 00:25:34,720
Speaker 1: we don't want our son to be like that.

564
00:25:35,000 --> 00:25:37,600
Speaker 3: He's not gonna fail to launch. And this is literally

565
00:25:37,920 --> 00:25:40,160
Speaker 3: a conversation I've had now with my twelve year old,

566
00:25:40,320 --> 00:25:42,920
Speaker 3: not like as a threat, but just something that we've

567
00:25:42,920 --> 00:25:45,920
Speaker 3: talked about of like, hey, you know, once you're an adult,

568
00:25:46,080 --> 00:25:48,680
Speaker 3: once you are eighteen years old, if you're sticking around,

569
00:25:48,680 --> 00:25:51,520
Speaker 3: you're going to contribute to the household expenses. And when

570
00:25:51,600 --> 00:25:55,120
Speaker 3: you start having these conversations early on, it's gonna be better.

571
00:25:55,160 --> 00:25:57,879
Speaker 3: It's gonna be better for your relationship. They're gonna be able

572
00:25:57,960 --> 00:26:01,080
Speaker 3: to start thinking about how, oh have things figured out?

573
00:26:01,119 --> 00:26:03,120
Speaker 1: I need to have a plan. Guess what. I didn't

574
00:26:03,160 --> 00:26:05,120
Speaker 1: have a great plan, but I had something in mind

575
00:26:05,160 --> 00:26:06,960
Speaker 1: and I was able to And you also knew if

576
00:26:07,000 --> 00:26:08,960
Speaker 1: you come back in what you what was gonna happen.

577
00:26:08,960 --> 00:26:11,159
Speaker 1: You knew the consequence is the reality of that, like

578
00:26:11,200 --> 00:26:13,400
Speaker 1: you're gonna have to pay money exactly, so, like you're

579
00:26:13,400 --> 00:26:15,840
Speaker 1: gonna have to do something. Yeah, I think, yeah, I

580
00:26:15,920 --> 00:26:19,320
Speaker 1: matt You're right. Like that in particular was revelatory to me.

581
00:26:19,400 --> 00:26:22,439
Speaker 1: The fact that like parents are at this point with

582
00:26:22,480 --> 00:26:23,959
Speaker 1: their adult children and they're like, I don't know what

583
00:26:24,000 --> 00:26:27,480
Speaker 1: to do because they're not contributing and it's costing. It's

584
00:26:27,480 --> 00:26:30,560
Speaker 1: costing me money, and I feel like I can't achieve

585
00:26:30,560 --> 00:26:33,200
Speaker 1: the goals I need to achieve. And I think you're

586
00:26:33,280 --> 00:26:36,320
Speaker 1: spot on. It starts earlier you have earlier, the better

587
00:26:36,359 --> 00:26:38,640
Speaker 1: you have to have those combos along the way because

588
00:26:38,680 --> 00:26:40,240
Speaker 1: they can't you just like move back and then be

589
00:26:40,320 --> 00:26:42,960
Speaker 1: like you need I think you just pay something, and

590
00:26:42,960 --> 00:26:44,720
Speaker 1: they're like, what are you talking about, Like it's it's

591
00:26:44,760 --> 00:26:47,440
Speaker 1: just tougher to have that conversation later on down the line.

592
00:26:47,480 --> 00:26:48,760
Speaker 1: You got to be and you're not gonna mean a

593
00:26:48,760 --> 00:26:51,800
Speaker 1: harsh about it. Sit your eight year old down and

594
00:26:51,800 --> 00:26:54,520
Speaker 1: be like you're gonna be a productive economic unit here

595
00:26:54,560 --> 00:26:56,800
Speaker 1: in the next five years. Okay, son doesn't doesn't need

596
00:26:56,840 --> 00:26:58,400
Speaker 1: to go down like that doesn't need but it does

597
00:26:58,480 --> 00:27:01,199
Speaker 1: lead to just better conversation, Like because of that, Like

598
00:27:01,240 --> 00:27:04,119
Speaker 1: that's what led to conversations about college and scholarships and

599
00:27:04,440 --> 00:27:07,240
Speaker 1: getting a job and and all of this. It's like

600
00:27:07,320 --> 00:27:07,800
Speaker 1: I just.

601
00:27:07,880 --> 00:27:10,520
Speaker 3: Even think about it from the standpoint as a parent,

602
00:27:11,040 --> 00:27:14,600
Speaker 3: like how are you equipping your kids? What potentials do

603
00:27:14,640 --> 00:27:16,359
Speaker 3: they have that they're not even able to tap into

604
00:27:16,520 --> 00:27:19,680
Speaker 3: because they're not being pushed at all to pursue something.

605
00:27:19,640 --> 00:27:23,280
Speaker 1: Hundred percent Okay. On the note of renting, another Business

606
00:27:23,320 --> 00:27:26,160
Speaker 1: Insider article we saw which was awesome, was talking about

607
00:27:26,160 --> 00:27:30,399
Speaker 1: young folks wanting to rent everything, and so, yeah, not

608
00:27:30,560 --> 00:27:32,920
Speaker 1: just like you love renting, Joel. I hear you say

609
00:27:32,920 --> 00:27:34,960
Speaker 1: that a lot. You say, you say, don't buy a

610
00:27:34,960 --> 00:27:38,600
Speaker 1: house renting it. Very accused of that, haven't we, And

611
00:27:38,720 --> 00:27:43,160
Speaker 1: I'm four. I am more for renting than a lot

612
00:27:43,200 --> 00:27:46,480
Speaker 1: of things. Even then, maybe I used to be like it.

613
00:27:46,480 --> 00:27:48,600
Speaker 1: It doesn't always make sense to buy stuff, like whether

614
00:27:48,600 --> 00:27:51,440
Speaker 1: you can borrow or rent, it might make more sense

615
00:27:51,440 --> 00:27:53,520
Speaker 1: depending on what we're talking about, and especially when we're

616
00:27:53,520 --> 00:27:55,679
Speaker 1: talking about housing. We've talked about that a lot, so

617
00:27:55,720 --> 00:27:58,080
Speaker 1: maybe we'll skip talking about that. But I'm talking about

618
00:27:58,080 --> 00:28:01,480
Speaker 1: renting clothes and baby gear and camping equipment like that's

619
00:28:01,840 --> 00:28:03,280
Speaker 1: that's what gen Z's like. I'm not going to buy

620
00:28:03,320 --> 00:28:05,760
Speaker 1: that stuff. I'm going to rent it. And there's no

621
00:28:05,800 --> 00:28:08,240
Speaker 1: one size fits all answer to whether buying or renting

622
00:28:08,320 --> 00:28:11,399
Speaker 1: is better on some of those consumer goods. I think

623
00:28:12,200 --> 00:28:14,639
Speaker 1: you know, it's so much depend like how frequently am

624
00:28:14,640 --> 00:28:16,600
Speaker 1: I going to use that item? Or is it a

625
00:28:16,600 --> 00:28:18,760
Speaker 1: one and done sort of thing, Like if you're not

626
00:28:18,800 --> 00:28:21,080
Speaker 1: going to use it again, a formal dress or a tuxedo,

627
00:28:21,520 --> 00:28:23,640
Speaker 1: rent that puppy. Yeah, it's expensive to rent, but it's

628
00:28:23,640 --> 00:28:25,679
Speaker 1: more expensive to buy and than never use it again.

629
00:28:26,000 --> 00:28:28,080
Speaker 1: How much money do you stand to say save? That's

630
00:28:28,080 --> 00:28:29,920
Speaker 1: a I think an important question when you're talking about

631
00:28:29,920 --> 00:28:32,520
Speaker 1: buying versus renting. If renting isn't going to save you

632
00:28:32,600 --> 00:28:36,800
Speaker 1: at least fifty percent, buying is probably a better choice. Also,

633
00:28:37,119 --> 00:28:41,760
Speaker 1: like borrowing, could you borrow something instead? Like renting is

634
00:28:41,840 --> 00:28:44,120
Speaker 1: one of those things where all of these companies have

635
00:28:44,200 --> 00:28:48,000
Speaker 1: come into the space to try to say come like

636
00:28:48,200 --> 00:28:50,240
Speaker 1: get it from us, and well, you know you'll be

637
00:28:50,280 --> 00:28:52,480
Speaker 1: able to You don't have to pay full freight, you

638
00:28:52,520 --> 00:28:55,360
Speaker 1: can send it back, but it's still expensive to use

639
00:28:55,400 --> 00:28:57,680
Speaker 1: some of these new fangled services. And can you borrow

640
00:28:57,800 --> 00:29:01,120
Speaker 1: that fancy dress from a friend and instead of or

641
00:29:01,160 --> 00:29:03,160
Speaker 1: a tuxedo? Like, I don't know, maybe it's not going

642
00:29:03,200 --> 00:29:05,360
Speaker 1: to look quite as cut and perfect on you. I

643
00:29:05,360 --> 00:29:08,160
Speaker 1: don't know. I'm not sure, but we did, Like Emily

644
00:29:08,200 --> 00:29:11,959
Speaker 1: rented a fancy dress from a site called newly and

645
00:29:13,120 --> 00:29:16,760
Speaker 1: it was it was great, But also looking back, I'm

646
00:29:16,760 --> 00:29:21,160
Speaker 1: like that that was an expensive experience. I get why

647
00:29:21,240 --> 00:29:23,360
Speaker 1: you might use it sometimes, but I also wouldn't want to,

648
00:29:23,400 --> 00:29:26,440
Speaker 1: like use it frequently. Yeah, it's one of those things

649
00:29:26,480 --> 00:29:28,040
Speaker 1: where you can do it every single month, and some

650
00:29:28,040 --> 00:29:30,720
Speaker 1: people do get new close shipped to their doorstep every

651
00:29:30,760 --> 00:29:32,120
Speaker 1: single month. That seems excessive.

652
00:29:32,240 --> 00:29:34,320
Speaker 3: Yeah, it's a there's a trade off there, right, Like

653
00:29:34,360 --> 00:29:37,360
Speaker 3: it's the value cost trade off, which actually leads us

654
00:29:37,480 --> 00:29:41,840
Speaker 3: to my favorite story of this entire Freday Flight Groundwork

655
00:29:41,880 --> 00:29:46,840
Speaker 3: Collective and Consumer Reports looked into Instacart's algorithmic pricing model.

656
00:29:47,120 --> 00:29:50,400
Speaker 3: Some of you you've probably heard about this what they felt.

657
00:29:50,240 --> 00:29:51,600
Speaker 1: Just like yesterday.

658
00:29:51,640 --> 00:29:52,240
Speaker 2: So it's pretty new.

659
00:29:52,680 --> 00:29:56,640
Speaker 3: The pricing. It's not just dynamic, it's seemingly random. And

660
00:29:56,680 --> 00:29:59,200
Speaker 3: so even when shoppers opt for the same item from

661
00:29:59,200 --> 00:30:02,160
Speaker 3: the same store at the the literal same time, the

662
00:30:02,200 --> 00:30:05,840
Speaker 3: price can vary pretty meaningfully. So eggs might cost one

663
00:30:05,840 --> 00:30:08,840
Speaker 3: person like three ninety nine, and it's gonna cost the

664
00:30:08,880 --> 00:30:11,200
Speaker 3: other person four dollars and sixty nine cents.

665
00:30:11,280 --> 00:30:14,720
Speaker 1: So basically, one of our listeners in South Carolina or

666
00:30:14,840 --> 00:30:19,520
Speaker 1: California and or or in US here where we are,

667
00:30:19,920 --> 00:30:24,280
Speaker 1: same time, same story, yep store, different computers, different prices,

668
00:30:24,280 --> 00:30:27,160
Speaker 1: different prices. Yeah, yeah, you talk about the same I

669
00:30:27,160 --> 00:30:29,440
Speaker 1: guess maybe it makes sense from different locations, right, Oh,

670
00:30:29,480 --> 00:30:33,200
Speaker 1: you're in Nevada and eggs cost more there for some

671
00:30:33,240 --> 00:30:36,680
Speaker 1: reason whatever. But like even close locations, like just to

672
00:30:36,720 --> 00:30:39,600
Speaker 1: cross in the same city, you're getting different prices.

673
00:30:39,720 --> 00:30:39,960
Speaker 2: Yeah.

674
00:30:40,000 --> 00:30:40,240
Speaker 1: I guess.

675
00:30:40,280 --> 00:30:42,040
Speaker 3: The big reason I'm just excited that this broke is

676
00:30:42,080 --> 00:30:46,200
Speaker 3: because it's calling into light some of Instacart's the somewhat

677
00:30:46,360 --> 00:30:49,320
Speaker 3: opaque way that they're doing business, which we're all about

678
00:30:49,320 --> 00:30:52,080
Speaker 3: price transparency. And I can't believe that we haven't talked

679
00:30:52,080 --> 00:30:54,560
Speaker 3: about this, Joel, because this is something I learned last month.

680
00:30:54,720 --> 00:30:57,480
Speaker 3: At the beginning of the last month, we started using

681
00:30:57,520 --> 00:31:00,280
Speaker 3: Instacart a little bit specifically because we've got one car,

682
00:31:00,320 --> 00:31:02,480
Speaker 3: and it's just like, gosh, okay, this one person can't

683
00:31:02,680 --> 00:31:04,880
Speaker 3: pick up this also run to the store, also make

684
00:31:04,920 --> 00:31:08,120
Speaker 3: this happen. Got a lot of competing goals, and so

685
00:31:08,440 --> 00:31:09,400
Speaker 3: the way I thought about.

686
00:31:09,200 --> 00:31:11,200
Speaker 1: It was like it was cheaper to get another car.

687
00:31:11,040 --> 00:31:14,240
Speaker 3: It was not cheaper to purchase another vehicle. So we said, hey, well,

688
00:31:14,320 --> 00:31:16,920
Speaker 3: let's this is a great instance to use Instacart, but

689
00:31:16,960 --> 00:31:18,640
Speaker 3: then you get used to using it, right, and you're

690
00:31:18,680 --> 00:31:20,480
Speaker 3: just kind of without even thinking about, oh, let's see

691
00:31:20,480 --> 00:31:24,600
Speaker 3: the instacard again, let's do it again. Until we ordered

692
00:31:24,680 --> 00:31:28,480
Speaker 3: some groceries. The guy, the instacart worker dropped him off

693
00:31:28,760 --> 00:31:32,680
Speaker 3: and he left the Aldi receipt in the bags, and

694
00:31:32,760 --> 00:31:35,360
Speaker 3: nobody else has ever done that before. And you got

695
00:31:35,400 --> 00:31:38,840
Speaker 3: to compare. So I compared the price of the actual

696
00:31:38,920 --> 00:31:41,360
Speaker 3: goods where I or Kate to run in and have

697
00:31:41,680 --> 00:31:46,280
Speaker 3: made that purchase versus what we paid Instacart, and what

698
00:31:46,400 --> 00:31:49,320
Speaker 3: the receipts that said was one hundred and seventy five

699
00:31:49,360 --> 00:31:53,520
Speaker 3: dollars the Instacart order or you know, like what was

700
00:31:53,520 --> 00:31:56,520
Speaker 3: all said and done with all the fees two hundred

701
00:31:57,000 --> 00:32:03,280
Speaker 3: and sixty one dollars. It was fifty percent more expensive.

702
00:32:03,760 --> 00:32:06,640
Speaker 3: And we have not used Instacart since because I could

703
00:32:06,760 --> 00:32:08,840
Speaker 3: not get over how much more expensive it was.

704
00:32:08,920 --> 00:32:09,120
Speaker 2: Dude.

705
00:32:09,200 --> 00:32:11,480
Speaker 3: Yeah, I was like I spent the whole weekend, Like

706
00:32:11,560 --> 00:32:14,080
Speaker 3: Kate and I we're just like looking at each other,

707
00:32:14,240 --> 00:32:18,040
Speaker 3: like shaking our heads because for my minute there we're

708
00:32:18,120 --> 00:32:20,440
Speaker 3: using it pretty solidly. Just you know, you kind of

709
00:32:20,440 --> 00:32:23,720
Speaker 3: get used to the luxury of it. It's incredibly convenient,

710
00:32:23,760 --> 00:32:26,360
Speaker 3: but just know that obviously you know that you're paying

711
00:32:26,520 --> 00:32:28,720
Speaker 3: more for it, but you kind of turn a blind

712
00:32:28,720 --> 00:32:31,239
Speaker 3: eye to it and thinking, oh, it's worth it, Oh,

713
00:32:31,240 --> 00:32:34,479
Speaker 3: we can afford it. But dude, facing the hard facts

714
00:32:34,520 --> 00:32:37,560
Speaker 3: the numbers made me realize that it's not that I'm

715
00:32:37,560 --> 00:32:39,959
Speaker 3: never going to use it again. If again we are

716
00:32:39,960 --> 00:32:43,400
Speaker 3: independently and I can't get out there because Kate's doing

717
00:32:43,400 --> 00:32:46,000
Speaker 3: this other event and we still are rocking the one

718
00:32:46,040 --> 00:32:49,480
Speaker 3: car family thing. Okay, it will place the instacart order,

719
00:32:49,480 --> 00:32:51,960
Speaker 3: because yes, for us, that's one of the solutions to

720
00:32:52,000 --> 00:32:55,240
Speaker 3: not having a second vehicle. But oh my gosh, the

721
00:32:55,280 --> 00:32:57,000
Speaker 3: scales fell from my eyes.

722
00:32:57,480 --> 00:32:59,000
Speaker 1: I saw the light. Well, I think this was I

723
00:32:59,000 --> 00:33:02,840
Speaker 1: think this was revelatory from that, like we are starting

724
00:33:02,880 --> 00:33:05,200
Speaker 1: to see one the price is not the price anymore online,

725
00:33:05,200 --> 00:33:08,120
Speaker 1: like it's just constantly moving, but it's not just dynamic.

726
00:33:08,360 --> 00:33:12,880
Speaker 1: It's becoming individualized. And Instacart is probably what it seems like,

727
00:33:13,080 --> 00:33:15,920
Speaker 1: is running tests to be like, well, does Sheila in

728
00:33:16,000 --> 00:33:19,560
Speaker 1: Denver does she care if eggs are four dollars or

729
00:33:19,560 --> 00:33:21,640
Speaker 1: if they're four dollars and fifty cents, like there's still

730
00:33:21,680 --> 00:33:24,000
Speaker 1: within this range or she's probably not gonna baton eye,

731
00:33:24,040 --> 00:33:26,680
Speaker 1: so let's go and charge her more. And I think

732
00:33:26,680 --> 00:33:28,440
Speaker 1: this is just going to happen more and more, and

733
00:33:28,480 --> 00:33:31,680
Speaker 1: we as consumers have to be more wary, and that

734
00:33:31,760 --> 00:33:34,000
Speaker 1: means going into the supermarket more regularly so that we

735
00:33:34,080 --> 00:33:36,400
Speaker 1: understand what the prices are and whether or not the

736
00:33:36,400 --> 00:33:39,720
Speaker 1: prices are getting from the online service that we're using

737
00:33:40,080 --> 00:33:43,720
Speaker 1: is within reason or not, because I get that it

738
00:33:43,880 --> 00:33:46,920
Speaker 1: is a convenience play and in some ways, in some ways, man,

739
00:33:47,000 --> 00:33:50,480
Speaker 1: I think using something like instacart can potentially save you

740
00:33:50,560 --> 00:33:52,880
Speaker 1: money if you're an impulse buyer, Like if you're going

741
00:33:52,880 --> 00:33:55,000
Speaker 1: in there and you're hungry, and like I think about

742
00:33:55,000 --> 00:33:57,640
Speaker 1: even just going into the grocery list. Yeah, going into Costco,

743
00:33:57,680 --> 00:34:00,840
Speaker 1: there's like the treasure hunt mentality and maybe you like

744
00:34:01,040 --> 00:34:02,520
Speaker 1: put all these other things in your cart that you

745
00:34:02,600 --> 00:34:07,640
Speaker 1: otherwise wouldn't have purchased, Like there is there's real downside

746
00:34:07,840 --> 00:34:11,400
Speaker 1: to that. But yeah, this is this is very interesting

747
00:34:11,440 --> 00:34:14,120
Speaker 1: to see and you have to be really careful, Like

748
00:34:14,360 --> 00:34:16,800
Speaker 1: it can be a time and money saver, but ultimately,

749
00:34:17,040 --> 00:34:19,080
Speaker 1: if you're not paying attention, it could cost you a lot.

750
00:34:19,200 --> 00:34:21,680
Speaker 1: It was so revelatory for us. Yeah, I feel like

751
00:34:21,760 --> 00:34:24,000
Speaker 1: I want to be the kind of individual who could

752
00:34:24,040 --> 00:34:26,440
Speaker 1: still go on the price is right with the host

753
00:34:26,520 --> 00:34:29,640
Speaker 1: Drew Carey and kind of know what things cost on average.

754
00:34:29,680 --> 00:34:30,799
Speaker 1: You got to be a man of the people man.

755
00:34:30,880 --> 00:34:32,960
Speaker 3: Yeah, like you gotta set Yeah, it's just it puts

756
00:34:33,000 --> 00:34:35,720
Speaker 3: you in touch with reality actually going to the grocery store,

757
00:34:35,760 --> 00:34:38,439
Speaker 3: and if people are complaining to that, like the affordability

758
00:34:38,480 --> 00:34:40,879
Speaker 3: is going down. I think from now on, my first

759
00:34:40,960 --> 00:34:42,880
Speaker 3: question is going to be like, yeah, do you actually

760
00:34:42,920 --> 00:34:44,760
Speaker 3: get in the grocery store yourself or are you getting

761
00:34:44,760 --> 00:34:48,480
Speaker 3: those groceries delivered? Because if so, I now understand. I

762
00:34:48,560 --> 00:34:49,160
Speaker 3: was upset.

763
00:34:49,360 --> 00:34:51,520
Speaker 1: I was pissed when I saw how much we had

764
00:34:51,520 --> 00:34:53,880
Speaker 1: been paying. And if you think inflation is impacting your groceries,

765
00:34:54,120 --> 00:34:57,520
Speaker 1: start using instacart and you'll see it happen even more.

766
00:34:57,560 --> 00:35:01,680
Speaker 1: I think will become more desensitized to price increases using

767
00:35:01,719 --> 00:35:04,600
Speaker 1: a service like this on the rag and so you just, yeah,

768
00:35:05,200 --> 00:35:08,600
Speaker 1: be aware, know that this is happening. And we'll post

769
00:35:08,640 --> 00:35:10,640
Speaker 1: a link to this and some of the other stories

770
00:35:10,680 --> 00:35:12,319
Speaker 1: we mentioned in the show notes. But this is one

771
00:35:12,320 --> 00:35:14,759
Speaker 1: of those where you're like, Okay, it makes me think

772
00:35:14,800 --> 00:35:16,640
Speaker 1: twice about using this service.

773
00:35:16,719 --> 00:35:17,360
Speaker 2: Just on repeat.

774
00:35:17,400 --> 00:35:19,560
Speaker 3: That's right, but buddy, that's gonna be it for this

775
00:35:19,719 --> 00:35:22,000
Speaker 3: Friday flight. Listeners can find our show notes up on

776
00:35:22,040 --> 00:35:24,879
Speaker 3: the website at howtomoney dot com. That's where you will

777
00:35:24,880 --> 00:35:27,400
Speaker 3: find our newsletters signed up, as well as our favorite

778
00:35:27,400 --> 00:35:29,840
Speaker 3: credit cards how toomoney dot com.

779
00:35:29,960 --> 00:35:32,759
Speaker 1: No doubt, al right, buddy, Until next time, Best friends out,

780
00:35:32,800 --> 00:35:34,760
Speaker 1: Best Friends Out,