1 00:00:00,120 --> 00:00:03,200 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt, 2 00:00:03,279 --> 00:00:08,320 Speaker 1: and today we're discussing unstable coins, ludicrous layoffs, and sweating 3 00:00:08,480 --> 00:00:30,360 Speaker 1: to save. That's right, man, this is our Friday flight 4 00:00:30,400 --> 00:00:33,480 Speaker 1: where every week we tackle some of the best headlines 5 00:00:33,479 --> 00:00:35,879 Speaker 1: out there that have to do with your money. We're 6 00:00:35,880 --> 00:00:37,960 Speaker 1: gonna talk about how these different stories are going to 7 00:00:38,000 --> 00:00:41,000 Speaker 1: impact your personal finances. Real quick, Joel, have you been 8 00:00:41,080 --> 00:00:44,960 Speaker 1: continuing Have you kept up the sell your Stuff challenge? Still? 9 00:00:44,960 --> 00:00:47,120 Speaker 1: I'm still a little bit behind. I need to catch up. 10 00:00:47,800 --> 00:00:50,040 Speaker 1: I've sold a couple of things recently, but I'm still 11 00:00:50,080 --> 00:00:52,839 Speaker 1: I think I've sold maybe like eight things. I'm supposed 12 00:00:52,880 --> 00:00:56,000 Speaker 1: to be at what at this point, like twenty right 13 00:00:56,040 --> 00:00:58,520 Speaker 1: in the late teens. I've been keeping it up, but 14 00:00:58,560 --> 00:01:01,080 Speaker 1: I have not updated my worksheets. But if you have 15 00:01:01,200 --> 00:01:03,320 Speaker 1: kept up with your sell your Stuff challenge, we would 16 00:01:03,360 --> 00:01:05,280 Speaker 1: love to hear from you. In particularly, I want to 17 00:01:05,319 --> 00:01:07,679 Speaker 1: know the kinds of things folks are selling in the 18 00:01:07,720 --> 00:01:11,040 Speaker 1: amounts as well. Because the reason I ask Joel, because 19 00:01:11,120 --> 00:01:14,000 Speaker 1: we just I just listed a mid century bedroom set 20 00:01:14,240 --> 00:01:17,039 Speaker 1: that we have had for a number of years now. 21 00:01:17,040 --> 00:01:18,560 Speaker 1: We just paid a few hundred bucks for it back 22 00:01:18,600 --> 00:01:22,039 Speaker 1: in the day. So you're asking top dollar, Well, I 23 00:01:22,080 --> 00:01:23,920 Speaker 1: looked it up because it still has the name of 24 00:01:23,920 --> 00:01:25,880 Speaker 1: the company on there, and so I just did a 25 00:01:25,920 --> 00:01:28,480 Speaker 1: quick search and I saw that similar sets we're going 26 00:01:28,560 --> 00:01:32,000 Speaker 1: for over two thousand dollars. It's it's amazing how some 27 00:01:32,160 --> 00:01:35,600 Speaker 1: antique sets, things that are fifty sixty years old, they 28 00:01:35,640 --> 00:01:39,199 Speaker 1: just hold their value because they've gone from the junk 29 00:01:39,319 --> 00:01:42,080 Speaker 1: after being owned for fifteen or twenty years, and now 30 00:01:42,200 --> 00:01:44,720 Speaker 1: it's chic again to own some of that stuff that's, 31 00:01:44,840 --> 00:01:46,720 Speaker 1: you know, fifty sixty years old. And some of that 32 00:01:46,800 --> 00:01:49,600 Speaker 1: stuff isn't getting any younger, that's right, Like they're not 33 00:01:49,640 --> 00:01:51,960 Speaker 1: making anymore exactly, and some of the stuff is just 34 00:01:52,040 --> 00:01:54,960 Speaker 1: made hearty, heartier than what's made today exactly. So I'm 35 00:01:55,000 --> 00:01:57,120 Speaker 1: not asking over two thousand dollars for it, but I 36 00:01:57,160 --> 00:01:59,600 Speaker 1: asked for close to that, and I'm just gonna knock 37 00:01:59,640 --> 00:02:01,960 Speaker 1: downer us off it every single day until it sells. 38 00:02:02,040 --> 00:02:03,920 Speaker 1: Let's see what you can get. I will let you know, 39 00:02:04,080 --> 00:02:06,000 Speaker 1: I hope you do get top dollar, because yeah, some 40 00:02:06,040 --> 00:02:08,840 Speaker 1: of those mid century sets in particular, I've just noticed 41 00:02:08,960 --> 00:02:11,640 Speaker 1: how much more expensive some of that stuff has gotten. 42 00:02:11,639 --> 00:02:14,280 Speaker 1: And one of my friends, Josh down in Florida. He 43 00:02:14,280 --> 00:02:18,240 Speaker 1: he actually buys themselves mid century furniture. That's that's his job, right, 44 00:02:18,639 --> 00:02:21,600 Speaker 1: is literally to rehab refinished some of these pieces and 45 00:02:21,680 --> 00:02:23,239 Speaker 1: he marks them up and he sends them all over 46 00:02:23,400 --> 00:02:28,320 Speaker 1: the country and so it's it's but it's cool. He's 47 00:02:28,320 --> 00:02:30,600 Speaker 1: not just ripping people off the he also finding these 48 00:02:30,600 --> 00:02:34,000 Speaker 1: pieces that are prized and treasure. I mean, if he 49 00:02:34,040 --> 00:02:35,440 Speaker 1: lives in Florida, where there are more of them than 50 00:02:35,440 --> 00:02:37,960 Speaker 1: pretty much anywhere else, so he's got kind of access. 51 00:02:38,000 --> 00:02:41,840 Speaker 1: He's at the he's at the source for that stuff. 52 00:02:42,080 --> 00:02:43,919 Speaker 1: And so I asked him recently to help me find 53 00:02:44,080 --> 00:02:47,919 Speaker 1: actually a mid century piano because they're really cool looking. 54 00:02:47,960 --> 00:02:50,079 Speaker 1: They're really hard to find, and I've noticed real out 55 00:02:50,080 --> 00:02:52,920 Speaker 1: of the ground and roll wide like mid century furniture 56 00:02:53,000 --> 00:02:55,440 Speaker 1: is well kind of they've got those like the stick 57 00:02:55,520 --> 00:02:58,320 Speaker 1: legs coming out the front there. It's it's really I'll 58 00:02:58,320 --> 00:02:59,920 Speaker 1: have to post a picture of the one that I 59 00:03:00,000 --> 00:03:03,639 Speaker 1: actually ended up purchasing with this help. Yeah, fancy, So 60 00:03:04,400 --> 00:03:06,440 Speaker 1: you don't even want to know what he sells midcentery 61 00:03:06,480 --> 00:03:09,040 Speaker 1: pianos for. When he gets one, they're they're definitely five 62 00:03:09,080 --> 00:03:12,200 Speaker 1: figures um and yeah, and so he helped me find 63 00:03:12,200 --> 00:03:16,440 Speaker 1: one actually locally that was a lot less than that. Um. 64 00:03:16,480 --> 00:03:18,520 Speaker 1: But I just want to say, sometimes buying a piece 65 00:03:18,560 --> 00:03:21,400 Speaker 1: that costs more money if it's an antique, or if 66 00:03:21,440 --> 00:03:24,080 Speaker 1: it has just inherent value based on its age and 67 00:03:24,080 --> 00:03:25,440 Speaker 1: the way it was made and the fact that they're 68 00:03:25,480 --> 00:03:28,240 Speaker 1: not making more, sometimes it's more of a long term play. 69 00:03:28,320 --> 00:03:30,720 Speaker 1: Even even though it might cost you maybe more than 70 00:03:30,880 --> 00:03:33,799 Speaker 1: a brand new piano one, it might last longer to 71 00:03:34,480 --> 00:03:37,120 Speaker 1: it might have a higher resale value throughout the years. 72 00:03:37,160 --> 00:03:38,840 Speaker 1: So those are the kind of things that are worth 73 00:03:38,920 --> 00:03:41,520 Speaker 1: factoring in. I mean, like your bedroom set. I guarantee 74 00:03:41,520 --> 00:03:43,600 Speaker 1: you you spent less on that bedroom set than what 75 00:03:43,640 --> 00:03:46,240 Speaker 1: you're selling it for now. Yeah, what it's listened for. 76 00:03:46,360 --> 00:03:49,640 Speaker 1: We'll see what you're hoping. Yeah, we'll see how it 77 00:03:50,080 --> 00:03:52,640 Speaker 1: pans out. But with the most bedroom sets, that's not 78 00:03:52,680 --> 00:03:55,960 Speaker 1: the case. If Walmart ikea target wherever you get your 79 00:03:55,960 --> 00:03:58,880 Speaker 1: bedroom set, guarantee you it's words less tomorrow than it is. Uh, 80 00:03:58,920 --> 00:04:01,080 Speaker 1: you know, the day you buy, you are immediately losing money. 81 00:04:01,280 --> 00:04:03,760 Speaker 1: Whereas this is something hopefully that not only will we 82 00:04:03,880 --> 00:04:05,480 Speaker 1: be able to break even, but I think we yeah, 83 00:04:05,480 --> 00:04:07,560 Speaker 1: we will be able to maybe double what we paid 84 00:04:07,600 --> 00:04:10,360 Speaker 1: for it. At least. Just one more reason to buy 85 00:04:10,800 --> 00:04:14,040 Speaker 1: vintage or used furniture as opposed to new furniture is 86 00:04:14,120 --> 00:04:16,400 Speaker 1: the fact that it's worth different amounts of different people. 87 00:04:16,440 --> 00:04:19,880 Speaker 1: So you might find a great vintage set of furniture 88 00:04:19,960 --> 00:04:23,279 Speaker 1: for pennies on the dollar, whereas somebody like my friend, 89 00:04:23,320 --> 00:04:25,560 Speaker 1: my friend Josh is charging top dollar right for the 90 00:04:25,560 --> 00:04:28,279 Speaker 1: pieces he's selling. But there's this whole those rare pieces 91 00:04:28,400 --> 00:04:30,080 Speaker 1: he does, he does, but he's also taking care of 92 00:04:30,120 --> 00:04:31,760 Speaker 1: them and the and they're nice. But you can find 93 00:04:31,800 --> 00:04:34,599 Speaker 1: I found some great pieces for that were really inexpensive 94 00:04:34,600 --> 00:04:36,880 Speaker 1: throughout the years. I've held onto him for a lot 95 00:04:36,920 --> 00:04:38,760 Speaker 1: of years now, and I guarantee you they're worth more 96 00:04:38,800 --> 00:04:40,440 Speaker 1: now than when I bought them. Makes me think of 97 00:04:40,640 --> 00:04:42,800 Speaker 1: a listener recently reached out to us on Instagram, and 98 00:04:42,880 --> 00:04:45,560 Speaker 1: she was highlighting the fact that just how affordable it 99 00:04:45,640 --> 00:04:47,880 Speaker 1: is to furnish your home by hitting up the yard sales. 100 00:04:48,040 --> 00:04:49,920 Speaker 1: She she loves the thrill of the chase, the thrill 101 00:04:49,960 --> 00:04:52,960 Speaker 1: of the hunt, but the ability to furnish her new 102 00:04:53,000 --> 00:04:56,000 Speaker 1: place with virtually opinions on the dollar compared to what 103 00:04:56,080 --> 00:04:57,960 Speaker 1: all that stuff would I think. I think yard sales 104 00:04:58,000 --> 00:05:01,279 Speaker 1: are even better than Facebook Marketplace because you might have 105 00:05:01,279 --> 00:05:02,919 Speaker 1: to pound the pavement a little bit more. But the 106 00:05:02,920 --> 00:05:05,599 Speaker 1: prices you're gonna get or even lower because the amount 107 00:05:05,640 --> 00:05:08,680 Speaker 1: of eyeballs is detracting are are usually fewer. Nobody wants 108 00:05:08,680 --> 00:05:11,040 Speaker 1: to get out there on a night Saturday morning when 109 00:05:11,040 --> 00:05:13,240 Speaker 1: the sun starts beating down on you. Everybody wants to 110 00:05:13,240 --> 00:05:15,080 Speaker 1: sit there from the comfort of their home. But that's 111 00:05:15,120 --> 00:05:17,880 Speaker 1: not how you find the deals. Yeah, so alright, alright, 112 00:05:17,920 --> 00:05:20,920 Speaker 1: just enough furniture talking, let's move on to the Friday flight. 113 00:05:21,000 --> 00:05:23,520 Speaker 1: Let's derailed its like, give you that sampling of stories 114 00:05:23,560 --> 00:05:26,800 Speaker 1: we found interesting this week. Let's talk about energy costs first, 115 00:05:26,880 --> 00:05:28,360 Speaker 1: Matt and and do what. We got a bunch of 116 00:05:28,360 --> 00:05:30,719 Speaker 1: stories to get to today that are they're highly interesting, 117 00:05:30,760 --> 00:05:33,640 Speaker 1: I think. But when it comes to energy costs, that's 118 00:05:34,000 --> 00:05:36,640 Speaker 1: another we You know, we got new inflation numbers this week, 119 00:05:37,080 --> 00:05:42,760 Speaker 1: but we're we're seeing higher energy prices alongside higher everything prices, 120 00:05:42,760 --> 00:05:45,920 Speaker 1: it feels like, and so h yeah, prices are still 121 00:05:45,960 --> 00:05:48,800 Speaker 1: inflated across the board. We're obviously paying more for what 122 00:05:48,880 --> 00:05:51,560 Speaker 1: seems like everything. Gas prices are still through the roof. 123 00:05:51,640 --> 00:05:54,320 Speaker 1: But but I'm talking about energy prices in terms of 124 00:05:54,320 --> 00:05:57,960 Speaker 1: heating and cooling our homes, and electricity prices are actually 125 00:05:58,000 --> 00:06:01,440 Speaker 1: up eleven percent year over year. That's thanks in large 126 00:06:01,480 --> 00:06:04,920 Speaker 1: part to a rapid increase in the price of natural gas, 127 00:06:05,160 --> 00:06:09,560 Speaker 1: which is the largest source of electricity generation in the country. 128 00:06:09,680 --> 00:06:13,320 Speaker 1: In a councilor about of the our electricity prices is 129 00:06:13,360 --> 00:06:15,159 Speaker 1: a lot. Yeah, and so the New York Times I 130 00:06:15,240 --> 00:06:19,239 Speaker 1: actually interviewed a few different electricity grid experts. They stated 131 00:06:19,279 --> 00:06:22,440 Speaker 1: that these price increases they're likely to continue for years 132 00:06:22,480 --> 00:06:27,520 Speaker 1: to come, largely because of necessary costly upgrades to the grid. 133 00:06:28,120 --> 00:06:30,440 Speaker 1: And so, yeah, these are gonna be taking place all 134 00:06:30,480 --> 00:06:32,719 Speaker 1: across the country to make our grids safer and smarter. 135 00:06:33,200 --> 00:06:35,720 Speaker 1: In addition to maybe the higher costs are gonna be 136 00:06:35,760 --> 00:06:39,039 Speaker 1: paying for some of these natural resources. And so it 137 00:06:39,120 --> 00:06:40,920 Speaker 1: sucks to know that it's going to cost more to 138 00:06:41,000 --> 00:06:43,479 Speaker 1: heat and cool your home. But I mean, at least 139 00:06:43,480 --> 00:06:45,680 Speaker 1: there are some actions that we can take to combat 140 00:06:46,000 --> 00:06:49,320 Speaker 1: these price increases ourselves, right, Yeah, totally. We talked about 141 00:06:49,360 --> 00:06:52,480 Speaker 1: installation a couple of weeks ago. That's always a good idea, 142 00:06:52,640 --> 00:06:55,640 Speaker 1: but setting your temperature higher during this summer is a 143 00:06:55,640 --> 00:06:57,240 Speaker 1: big help as well. And I feel like this is 144 00:06:57,279 --> 00:06:59,440 Speaker 1: a good reminder to get out there in front of 145 00:06:59,480 --> 00:07:02,280 Speaker 1: you before you start taking down the thermostat. Uh. This 146 00:07:02,279 --> 00:07:05,039 Speaker 1: this might sound crazy, but the Department of Energy, they 147 00:07:05,040 --> 00:07:08,760 Speaker 1: actually recommend setting your thermostat to seventy eight degrees when 148 00:07:08,760 --> 00:07:12,040 Speaker 1: you're home during the day, eighty two degrees when you're sleeping, 149 00:07:12,400 --> 00:07:14,120 Speaker 1: and then eighty five degrees when you're out of the house. 150 00:07:14,120 --> 00:07:18,080 Speaker 1: I don't really care about I'm fine with two eighty 151 00:07:18,080 --> 00:07:20,920 Speaker 1: two when you're sleeping. I think is pretty warm for 152 00:07:20,920 --> 00:07:22,960 Speaker 1: for a lot of folks. And so if you actually 153 00:07:22,960 --> 00:07:25,360 Speaker 1: do this, mad props to you. I hope your family 154 00:07:25,400 --> 00:07:28,760 Speaker 1: still loves you after making the all summer, after you 155 00:07:28,800 --> 00:07:31,880 Speaker 1: have gone through sweating in order to save We're actually 156 00:07:31,920 --> 00:07:34,080 Speaker 1: kind of on board with this idea for us at night, 157 00:07:34,120 --> 00:07:35,800 Speaker 1: it's okay for it to take up a little bit 158 00:07:35,840 --> 00:07:38,520 Speaker 1: warmer you get to you let it give that point. No, 159 00:07:38,720 --> 00:07:41,680 Speaker 1: we we need we got significantly higher than what we're 160 00:07:41,680 --> 00:07:43,480 Speaker 1: willing to deal with during the day because during the day, 161 00:07:43,800 --> 00:07:46,280 Speaker 1: I want the temperature to be cooler because we're moving around, 162 00:07:46,360 --> 00:07:48,880 Speaker 1: the kids are moving und you're you're doing stuff, and 163 00:07:48,920 --> 00:07:51,080 Speaker 1: it's easy for us to start feeling miserable. If if 164 00:07:51,120 --> 00:07:53,280 Speaker 1: you start sweating and just trying to live your life. 165 00:07:53,320 --> 00:07:54,720 Speaker 1: But at night you can just throw back the covers, 166 00:07:54,720 --> 00:07:57,200 Speaker 1: turn that fan on. In particular, is how I think 167 00:07:57,240 --> 00:07:59,840 Speaker 1: we're able to stay cool. Like fans make a big difference. 168 00:08:00,240 --> 00:08:02,680 Speaker 1: And I will say, my my thermostat Matt vacillates somewhere 169 00:08:02,680 --> 00:08:06,200 Speaker 1: between seventy six and eighty, depending on whether or home 170 00:08:06,240 --> 00:08:08,240 Speaker 1: what I'm doing, But that's usually the range of its 171 00:08:08,440 --> 00:08:11,320 Speaker 1: depending on how you feel. You go over there and 172 00:08:11,360 --> 00:08:13,920 Speaker 1: tweak it. But no, you said, it doesn't go below that. 173 00:08:14,000 --> 00:08:16,080 Speaker 1: It does not go into like seventy five, seventy four, 174 00:08:16,200 --> 00:08:18,960 Speaker 1: seventy three territory. Not nice. Unless my mom comes over 175 00:08:19,000 --> 00:08:20,720 Speaker 1: and then she touches it. She she cranks it down. 176 00:08:21,080 --> 00:08:23,720 Speaker 1: Sometimes I'll crank it down in order to control humidity, 177 00:08:23,760 --> 00:08:26,520 Speaker 1: because that's something that I feel like significantly impacts how 178 00:08:26,520 --> 00:08:28,840 Speaker 1: it feels inside the house. If it's getting to just 179 00:08:28,840 --> 00:08:31,680 Speaker 1: just wet too muggy, the i'l tn it down a 180 00:08:31,680 --> 00:08:33,959 Speaker 1: little bit just to dry out the air. But fans, 181 00:08:34,120 --> 00:08:36,280 Speaker 1: ceiling fans make a huge difference, like you said, and 182 00:08:36,440 --> 00:08:39,400 Speaker 1: it can make it feel like ten degrees cooler in 183 00:08:39,679 --> 00:08:41,480 Speaker 1: your house if you keep the fans on. So don't 184 00:08:41,520 --> 00:08:44,720 Speaker 1: forget about those. But making these adjustments to your thermostatic, 185 00:08:44,720 --> 00:08:47,240 Speaker 1: cranking that temperature up a little bit, even if you 186 00:08:47,280 --> 00:08:50,760 Speaker 1: don't go with the Department of Energies recommendations, will be 187 00:08:50,800 --> 00:08:52,719 Speaker 1: able to save you some tremendous amount of money. Yeah, 188 00:08:52,760 --> 00:08:55,319 Speaker 1: that's worth noting, especially as we get into these warmer 189 00:08:55,320 --> 00:08:58,360 Speaker 1: summer months where those electricity bills they're about the start 190 00:08:58,400 --> 00:09:00,840 Speaker 1: getting real, right, and if it there's nobody out there 191 00:09:00,920 --> 00:09:03,640 Speaker 1: who does like to crank it up to eighty two, 192 00:09:03,640 --> 00:09:05,680 Speaker 1: I would like to hear from you, And I mean literally, 193 00:09:05,679 --> 00:09:07,679 Speaker 1: I I would like to know some of the steps 194 00:09:07,720 --> 00:09:10,960 Speaker 1: that you take, Like literally, are you wearing nothing in 195 00:09:11,040 --> 00:09:13,240 Speaker 1: your house and all the fans are on full blast? 196 00:09:13,320 --> 00:09:15,000 Speaker 1: If so, and if that works for you, then more 197 00:09:15,000 --> 00:09:17,000 Speaker 1: power to you. Yeah. Please, we you can write a 198 00:09:17,000 --> 00:09:18,840 Speaker 1: blog post for how the Money dot com. We'd love 199 00:09:18,920 --> 00:09:20,720 Speaker 1: to hear all about it. Well, Matt, that that just 200 00:09:20,760 --> 00:09:22,880 Speaker 1: makes me think. I was actually emailing with a listener 201 00:09:22,920 --> 00:09:25,959 Speaker 1: this week named Glenn and he he's actually written about 202 00:09:25,960 --> 00:09:28,880 Speaker 1: putting solar on his house and we kind of went 203 00:09:28,920 --> 00:09:31,120 Speaker 1: back and forth about that for for a minute. He 204 00:09:31,600 --> 00:09:33,160 Speaker 1: wrote about it on his blog. I'll put a link 205 00:09:33,240 --> 00:09:35,599 Speaker 1: in the show notes to that article. But you know, 206 00:09:35,679 --> 00:09:38,319 Speaker 1: it's obviously it's not cheap to install solar, right that 207 00:09:38,679 --> 00:09:41,079 Speaker 1: changing your thermostat and putting in some instulation, those are 208 00:09:41,480 --> 00:09:44,120 Speaker 1: pretty cheap to two free moves that you can make 209 00:09:44,120 --> 00:09:45,920 Speaker 1: in order to save a little bit of energy. Well, 210 00:09:45,920 --> 00:09:48,000 Speaker 1: installing solar is like a bigger project that you're gonna 211 00:09:48,000 --> 00:09:50,360 Speaker 1: have to take on that requires some more dollars. But 212 00:09:50,559 --> 00:09:52,760 Speaker 1: I did want to mention it can still make sense 213 00:09:52,760 --> 00:09:55,000 Speaker 1: if it's done properly and in the right location. And 214 00:09:55,559 --> 00:09:58,559 Speaker 1: it's important to not forget that there's still a substantial 215 00:09:59,040 --> 00:10:03,080 Speaker 1: federal subsidy for rooftop solar installs. You can say, if 216 00:10:03,120 --> 00:10:07,840 Speaker 1: what this year, yeah, if in two, if you install 217 00:10:07,920 --> 00:10:10,920 Speaker 1: solar next year, it's gonna be I think it's going 218 00:10:10,920 --> 00:10:13,040 Speaker 1: down just a little bit. But that's pretty amazing, man, 219 00:10:13,080 --> 00:10:15,240 Speaker 1: that that that the federal government is going to foot 220 00:10:15,240 --> 00:10:18,920 Speaker 1: the bill for more than a quarter of your solar installation. 221 00:10:19,040 --> 00:10:21,559 Speaker 1: And so they obviously missed out on a marketing opportunity 222 00:10:22,720 --> 00:10:27,480 Speaker 1: three three, they didn't hire us. It could have been 223 00:10:27,520 --> 00:10:30,640 Speaker 1: like the flannel push, so everybody would have remembered that's right, well, 224 00:10:31,000 --> 00:10:34,760 Speaker 1: especially as solar the costs of solar installs have gone down, 225 00:10:34,920 --> 00:10:37,319 Speaker 1: the cost of solar panels has gone down. Now is 226 00:10:37,360 --> 00:10:39,800 Speaker 1: like kind of the sweet spot for installing solar if 227 00:10:39,920 --> 00:10:42,600 Speaker 1: you're so inclined. And it's yeah, it is a big step. 228 00:10:42,600 --> 00:10:47,920 Speaker 1: Not everyone's necessarily into, but it bears mentioning, and so yeah, 229 00:10:47,960 --> 00:10:50,839 Speaker 1: it's it matters not only how much electricity you should 230 00:10:50,880 --> 00:10:53,320 Speaker 1: you're gonna be able to replace, though, but also how 231 00:10:53,360 --> 00:10:57,960 Speaker 1: your state or municipality treats the excess electricity that you generate. 232 00:10:58,000 --> 00:11:00,440 Speaker 1: And in some states they pay pay you a or rate. 233 00:11:00,760 --> 00:11:03,439 Speaker 1: Others don't. Others kind of say we'll pay you a 234 00:11:03,480 --> 00:11:06,640 Speaker 1: pittance for the extra solar you generate that you don't use. Literally, 235 00:11:06,679 --> 00:11:09,160 Speaker 1: like in Mississippi, it's a discounted rate, and so they 236 00:11:09,160 --> 00:11:13,040 Speaker 1: pay you very little when you actually send electricity back 237 00:11:13,080 --> 00:11:16,200 Speaker 1: to the grid. It's worth looking into before you opt 238 00:11:16,320 --> 00:11:18,160 Speaker 1: to kind of go all in and drop fifteen or 239 00:11:18,160 --> 00:11:21,079 Speaker 1: twenty grand on a solar install at your house. But again, 240 00:11:21,160 --> 00:11:25,720 Speaker 1: with that federal tax credit, it could make sense for 241 00:11:26,080 --> 00:11:28,160 Speaker 1: a decent chunk of folks, that's right. Yeah, So while 242 00:11:28,200 --> 00:11:32,079 Speaker 1: we're talking about utilities, actually let's talk about a related subject, 243 00:11:32,120 --> 00:11:35,079 Speaker 1: which is scammers who are out there and you might 244 00:11:35,080 --> 00:11:38,320 Speaker 1: be wondering how that's related. Well, we've talked about this before, 245 00:11:38,400 --> 00:11:41,400 Speaker 1: but a Detroit Free Press article brought utility scams back 246 00:11:41,400 --> 00:11:44,840 Speaker 1: to the forefront of our minds. Crafty scam artists out 247 00:11:44,880 --> 00:11:48,160 Speaker 1: there are using color I D to impersonate your utility 248 00:11:48,200 --> 00:11:51,560 Speaker 1: company telling you to send the money immediately or they'll 249 00:11:51,600 --> 00:11:53,760 Speaker 1: be forced to turn off the power to your house 250 00:11:53,880 --> 00:11:57,120 Speaker 1: or to your business. And almost all of the folks 251 00:11:57,120 --> 00:12:00,400 Speaker 1: who are scammed sent money via ZEL, which means that 252 00:12:00,400 --> 00:12:02,880 Speaker 1: that is money that they likely won't be able to 253 00:12:02,920 --> 00:12:05,440 Speaker 1: claw back after they've realized that they've been scammed. Yeah, 254 00:12:05,440 --> 00:12:07,840 Speaker 1: and ZEL is usually it's within your banking app right, 255 00:12:07,880 --> 00:12:10,640 Speaker 1: whatever major bank you do business with. Sale has partnered 256 00:12:10,640 --> 00:12:12,840 Speaker 1: with most of those big banks. It's it's kind of 257 00:12:12,840 --> 00:12:16,040 Speaker 1: like a Venmo alternative. And so people are always trying 258 00:12:16,040 --> 00:12:18,280 Speaker 1: to get you to pay money that way because you 259 00:12:18,360 --> 00:12:20,600 Speaker 1: can't call it back, that's right, And so we want 260 00:12:20,640 --> 00:12:23,000 Speaker 1: you to avoid becoming a victim of some of these scams. 261 00:12:23,040 --> 00:12:26,200 Speaker 1: So a few tips. A utility company, Uh, they're going 262 00:12:26,240 --> 00:12:28,400 Speaker 1: to reach out to you multiple times before threatening to 263 00:12:28,400 --> 00:12:30,560 Speaker 1: cut your power or to shut off your water. And 264 00:12:30,600 --> 00:12:32,680 Speaker 1: so if this is the first that you've heard of 265 00:12:32,720 --> 00:12:36,520 Speaker 1: this reach out and contact your utility company directly yourself, 266 00:12:36,679 --> 00:12:37,920 Speaker 1: like they're they're not going to just show up out 267 00:12:37,920 --> 00:12:40,839 Speaker 1: of the blue demanding to be paid right away only 268 00:12:40,920 --> 00:12:45,280 Speaker 1: via zell or Venmo. We want you to challenge whoever 269 00:12:45,320 --> 00:12:47,600 Speaker 1: it is that's that's calling you or even showing up. 270 00:12:47,600 --> 00:12:50,160 Speaker 1: There have been some instances of folks showing up, uh 271 00:12:50,280 --> 00:12:53,160 Speaker 1: knocking on folks doors up there in Michigan. But we 272 00:12:53,200 --> 00:12:55,560 Speaker 1: want you to ask for more information and if it 273 00:12:55,559 --> 00:12:57,600 Speaker 1: seems fishy, then we would recommend for you to report 274 00:12:57,600 --> 00:13:00,000 Speaker 1: it to the Better Business Bureau scam Tracker and we'll 275 00:13:00,000 --> 00:13:01,720 Speaker 1: have a link to that up on our website. Yeah, 276 00:13:01,760 --> 00:13:04,520 Speaker 1: that that is one of the worst scams because especially 277 00:13:04,559 --> 00:13:06,800 Speaker 1: if you're a business and you've got customers coming in 278 00:13:06,800 --> 00:13:08,400 Speaker 1: and out and someone calls you and they're like, we're 279 00:13:08,400 --> 00:13:10,920 Speaker 1: going to turn your power off. Now, Yeah, that's a 280 00:13:10,960 --> 00:13:13,360 Speaker 1: threat because you are gonna you're gonna lose business, customers 281 00:13:13,360 --> 00:13:15,240 Speaker 1: are gonna walk out, and you have that that that 282 00:13:15,320 --> 00:13:17,360 Speaker 1: response that's based on fear. That's right, that's what they're 283 00:13:17,360 --> 00:13:19,320 Speaker 1: that's what they're praying exactly, and they want you to 284 00:13:19,440 --> 00:13:22,800 Speaker 1: send the money immediately and then guess what you have 285 00:13:22,840 --> 00:13:24,680 Speaker 1: been taking advantage of you can't get that money back. 286 00:13:24,960 --> 00:13:27,480 Speaker 1: So it's definitely something to be on the lookout for. 287 00:13:27,920 --> 00:13:30,600 Speaker 1: But Matt, we've got more stories to get to, including 288 00:13:30,600 --> 00:13:33,679 Speaker 1: we're gonna talk about a company who just raised one 289 00:13:33,679 --> 00:13:36,120 Speaker 1: of their fees by a big margin and it actually 290 00:13:36,200 --> 00:13:38,200 Speaker 1: makes it more difficult to get your money back, and 291 00:13:38,240 --> 00:13:40,400 Speaker 1: we'll talk about that and more right after this break. 292 00:13:49,679 --> 00:13:52,000 Speaker 1: All right, we are back from the break, and before 293 00:13:52,040 --> 00:13:54,880 Speaker 1: we get to the ludicrous layoffs storage, well, we've got 294 00:13:54,880 --> 00:13:58,000 Speaker 1: the ludicrous headline of the week, which are we even 295 00:13:58,040 --> 00:14:02,480 Speaker 1: allowed to attribute that description to other stories? I will 296 00:14:02,520 --> 00:14:05,400 Speaker 1: check with our trademark lawyers, our copyright attorneys, and I'll 297 00:14:05,400 --> 00:14:07,160 Speaker 1: get back to you. It goes against our how we 298 00:14:07,160 --> 00:14:09,319 Speaker 1: do things concern on how the money. But this one 299 00:14:09,400 --> 00:14:13,760 Speaker 1: comes from CNBC and the headline reads Terra stable coin, 300 00:14:13,920 --> 00:14:16,400 Speaker 1: which is meant to be pegged to the dollar, plummets 301 00:14:16,400 --> 00:14:20,600 Speaker 1: below thirty cents. And well, obviously a lot of folks 302 00:14:20,640 --> 00:14:23,560 Speaker 1: have maybe realized this if you own any cryptocurrencies, but 303 00:14:23,880 --> 00:14:25,760 Speaker 1: they have not had a great start to the year, 304 00:14:26,200 --> 00:14:28,200 Speaker 1: similar to the stock market. But what happened in the 305 00:14:28,240 --> 00:14:31,960 Speaker 1: stable coin worse uh this week points to an issue 306 00:14:31,960 --> 00:14:34,520 Speaker 1: that we've had with some of the crypto offerings for 307 00:14:34,560 --> 00:14:37,640 Speaker 1: a while. Stable coins are supposed to be no surprise 308 00:14:37,720 --> 00:14:41,360 Speaker 1: here stable uh. They aren't supposed to fluctuate in value 309 00:14:41,360 --> 00:14:44,040 Speaker 1: the way that many of the other coins do uh 310 00:14:44,080 --> 00:14:46,040 Speaker 1: and without being the case, some folks out there have 311 00:14:46,080 --> 00:14:49,800 Speaker 1: decided to stash their savings in stable coin accounts because 312 00:14:49,840 --> 00:14:53,160 Speaker 1: they were paying really hefty rates of interest, like in 313 00:14:53,200 --> 00:14:56,360 Speaker 1: the seven to eight percent range, which sounds pretty incredible 314 00:14:57,160 --> 00:15:00,960 Speaker 1: until that promise ends, and disaster get did for many 315 00:15:01,000 --> 00:15:03,160 Speaker 1: earlier this week, and so we would recommend for you 316 00:15:03,240 --> 00:15:06,000 Speaker 1: to not put money that you need, you know, your 317 00:15:06,000 --> 00:15:08,960 Speaker 1: savings in stable coin accounts. That money needs to be 318 00:15:09,360 --> 00:15:12,400 Speaker 1: in an actual f d i C insured savings account 319 00:15:12,840 --> 00:15:15,040 Speaker 1: with a real bank. So we share the story because 320 00:15:15,040 --> 00:15:17,240 Speaker 1: we want you to know that volatility isn't limited to 321 00:15:17,400 --> 00:15:21,200 Speaker 1: just individual coins like doage coin uh stable coins they 322 00:15:21,200 --> 00:15:23,600 Speaker 1: pose real risks as well. We've shared how it is 323 00:15:23,640 --> 00:15:25,880 Speaker 1: okay to put up the five percent of your overall 324 00:15:25,920 --> 00:15:30,000 Speaker 1: portfolio within cryptocurrencies, but that five percent should include not 325 00:15:30,080 --> 00:15:32,960 Speaker 1: only actual individual coins, but these stable coins as well. 326 00:15:33,440 --> 00:15:36,520 Speaker 1: We want you to only gamble, only speculate with money 327 00:15:36,600 --> 00:15:39,000 Speaker 1: that you can afford losing. That's right, man. A lot 328 00:15:39,040 --> 00:15:42,040 Speaker 1: of these stable coin accounts, the way they're talked about, 329 00:15:42,200 --> 00:15:45,120 Speaker 1: the way they're marketed is like it's not gambling. Is 330 00:15:45,160 --> 00:15:46,680 Speaker 1: that it is like it is the same mus account, 331 00:15:46,720 --> 00:15:48,600 Speaker 1: It is kind of a sure thing, but the reality 332 00:15:48,680 --> 00:15:51,040 Speaker 1: is it's not and it's not ensured in the same way. 333 00:15:51,080 --> 00:15:53,040 Speaker 1: It's not it's not the same thing as the same 334 00:15:53,160 --> 00:15:56,920 Speaker 1: use account, no matter what the websites say or purport 335 00:15:57,000 --> 00:16:00,080 Speaker 1: these accounts to be. And we found that out of 336 00:16:00,080 --> 00:16:02,080 Speaker 1: people found it out the hard way this week. But 337 00:16:02,240 --> 00:16:05,200 Speaker 1: while we're talking about crypto, it turns out that most 338 00:16:05,200 --> 00:16:08,600 Speaker 1: folks who have invested in bitcoin, the most popular cryptocurrency, 339 00:16:09,280 --> 00:16:12,680 Speaker 1: they have a stash that's actually worth less now than 340 00:16:13,000 --> 00:16:16,680 Speaker 1: what they initially invested. And so I can confirm that myself. 341 00:16:16,920 --> 00:16:20,000 Speaker 1: Same here, you and I We both have relatively small 342 00:16:20,120 --> 00:16:24,640 Speaker 1: steaks in mostly bitcoin and ethereum. But yeah, both of 343 00:16:24,720 --> 00:16:27,160 Speaker 1: us are what we initially put in. Well, our position 344 00:16:27,200 --> 00:16:29,400 Speaker 1: is now worth less than the amount we bought in 345 00:16:29,440 --> 00:16:31,920 Speaker 1: for and and and that is because we were, like 346 00:16:31,960 --> 00:16:33,880 Speaker 1: a lot of the other folks who jumped on the 347 00:16:33,880 --> 00:16:37,000 Speaker 1: bitcoin back bandwagon when it was close to all time 348 00:16:37,040 --> 00:16:40,800 Speaker 1: highs late the average price of bitcoin, I believe last 349 00:16:40,840 --> 00:16:43,680 Speaker 1: year was right in the forty seven dollar range. And 350 00:16:43,720 --> 00:16:46,520 Speaker 1: that's when bitcoin was like water cooler talk, right, like 351 00:16:46,800 --> 00:16:48,720 Speaker 1: you you hopped in your uber and that was kind 352 00:16:48,720 --> 00:16:51,440 Speaker 1: of instead of the weather, people talked about bitcoin or 353 00:16:51,520 --> 00:16:53,600 Speaker 1: your coworker, instead of talking about what they were up 354 00:16:53,640 --> 00:16:56,880 Speaker 1: to this weekend, they talked about investing in crypto, and 355 00:16:56,920 --> 00:17:01,920 Speaker 1: so everybody seemed to be getting in on the crypto craze. Well, well, 356 00:17:01,960 --> 00:17:05,320 Speaker 1: now cryptos having its icorous moments, and folks who you 357 00:17:05,359 --> 00:17:08,160 Speaker 1: know bought in last year are kind of kicking themselves 358 00:17:08,440 --> 00:17:12,119 Speaker 1: because bitcoin, Matt, it felt in value in just the 359 00:17:12,200 --> 00:17:15,159 Speaker 1: last week alone, and it's been cut more than in 360 00:17:15,240 --> 00:17:17,560 Speaker 1: half from its all time highs. And so I know 361 00:17:17,640 --> 00:17:19,240 Speaker 1: we say this regularly, and Matt, you just said it 362 00:17:19,320 --> 00:17:22,359 Speaker 1: to but keep your crypto exposure in check. There are 363 00:17:22,359 --> 00:17:24,120 Speaker 1: probably a lot of how to money listeners who would 364 00:17:24,160 --> 00:17:28,119 Speaker 1: be best best served by having zero exposure to the 365 00:17:28,160 --> 00:17:31,440 Speaker 1: crypto asset class. But but for folks who do want some, 366 00:17:32,000 --> 00:17:34,240 Speaker 1: keep it small. And if the past year in general, 367 00:17:34,240 --> 00:17:37,240 Speaker 1: in the past couple of weeks specifically haven't proven that 368 00:17:37,320 --> 00:17:39,240 Speaker 1: out that, I don't know what will, but I think 369 00:17:39,240 --> 00:17:42,679 Speaker 1: it's I think it's crucial that folks really trim and 370 00:17:42,760 --> 00:17:45,960 Speaker 1: make sure that they're not overexposed. Uh, so they're not 371 00:17:46,000 --> 00:17:49,480 Speaker 1: freaking out when weeks like this happened, because crypto is 372 00:17:49,480 --> 00:17:52,840 Speaker 1: still volatile, as I'll get out. That's right. Yeah, let's 373 00:17:52,840 --> 00:17:55,800 Speaker 1: talk about where most folks bought their bitcoin. Coin Base 374 00:17:55,880 --> 00:17:59,080 Speaker 1: was a big one, robin Hood was another. In robin Hood, 375 00:17:59,080 --> 00:18:02,240 Speaker 1: they actually just announced that they are increasing fees for 376 00:18:02,280 --> 00:18:06,239 Speaker 1: taking money out of your account outbound transfers of your 377 00:18:06,280 --> 00:18:08,520 Speaker 1: money from robin Hood to another broke, which will cost 378 00:18:08,600 --> 00:18:12,000 Speaker 1: you one hundred dollars starting in July. That's a decent 379 00:18:12,119 --> 00:18:15,000 Speaker 1: chunk of money. Of course, we hate fees, and so 380 00:18:15,080 --> 00:18:18,120 Speaker 1: this is a pretty crappy move. It's not that robin 381 00:18:18,160 --> 00:18:21,480 Speaker 1: hood doesn't have a pretty slick app. It's an incredible interface, 382 00:18:21,760 --> 00:18:24,600 Speaker 1: and honestly, if and whenever they get some roth ira 383 00:18:24,600 --> 00:18:27,880 Speaker 1: accounts or ira A options within their platform, we will 384 00:18:27,920 --> 00:18:30,199 Speaker 1: probably be pretty excited about that. But the fact that 385 00:18:30,240 --> 00:18:33,040 Speaker 1: they're trying to strong arm their customers by keep keeping 386 00:18:33,119 --> 00:18:36,280 Speaker 1: them locked into their ecosystem, by penalizing them, uh to 387 00:18:36,320 --> 00:18:38,560 Speaker 1: even think about transferring that money to to somebody like 388 00:18:38,960 --> 00:18:41,520 Speaker 1: Fidelity or Vanguard, that is something that we don't like 389 00:18:41,840 --> 00:18:44,240 Speaker 1: feel like it feels like coercion exactly. Yeah, yeah, they're 390 00:18:44,240 --> 00:18:47,080 Speaker 1: they're they're forcing you to stay, whereas like Fidelity and Vanguard, 391 00:18:47,119 --> 00:18:50,199 Speaker 1: they both charge you zero dollars for outbound transfers and 392 00:18:50,240 --> 00:18:52,560 Speaker 1: that's probably because their customers they're not going anywhere. They're 393 00:18:52,640 --> 00:18:55,920 Speaker 1: very happy with the offerings that Fidelity in Vanguard offer 394 00:18:56,359 --> 00:18:58,439 Speaker 1: And honestly, we've talked about this before, but maybe it 395 00:18:58,440 --> 00:19:00,760 Speaker 1: shouldn't be so easy for you to hop into an 396 00:19:00,760 --> 00:19:03,399 Speaker 1: app and mess around with your retirement savings gown. And 397 00:19:03,520 --> 00:19:06,320 Speaker 1: it's not like you and I are against great user interfaces, 398 00:19:06,400 --> 00:19:09,080 Speaker 1: and we can readily admit the Robin Hood has the 399 00:19:09,080 --> 00:19:11,960 Speaker 1: best user interface in the business. The love hate relationship. Yeah, 400 00:19:12,200 --> 00:19:15,480 Speaker 1: it's it's pretty cool. But the problem is what that 401 00:19:15,760 --> 00:19:18,000 Speaker 1: what that incentivizes people to do. And a lot of 402 00:19:18,000 --> 00:19:20,439 Speaker 1: people have realized over the last year or two, and 403 00:19:20,560 --> 00:19:23,600 Speaker 1: especially in the last few months that maybe some of 404 00:19:23,800 --> 00:19:26,440 Speaker 1: the trades they made because the user interface was so 405 00:19:27,000 --> 00:19:30,080 Speaker 1: easy and it was so simple to toss some money 406 00:19:30,080 --> 00:19:32,640 Speaker 1: in there start making some trades, that maybe they did 407 00:19:32,680 --> 00:19:36,080 Speaker 1: some stuff that they wouldn't have in a more complex 408 00:19:36,080 --> 00:19:41,120 Speaker 1: system in with let's say Vanguards, Uh, two thousand three 409 00:19:41,200 --> 00:19:43,800 Speaker 1: sort of user interface where it's like old Internet and 410 00:19:43,840 --> 00:19:46,119 Speaker 1: it's really hard to get things done. There is actually 411 00:19:46,160 --> 00:19:48,440 Speaker 1: just a certain benefit to that, even though it looks 412 00:19:48,480 --> 00:19:50,760 Speaker 1: clunky and ugly. At the very least, just delete the 413 00:19:50,760 --> 00:19:52,640 Speaker 1: app from your phone. Right If you have a robin 414 00:19:52,640 --> 00:19:55,080 Speaker 1: Hood account and you're kind of weighing whether or not 415 00:19:55,160 --> 00:19:57,280 Speaker 1: you should you pay the hundred or pay the seventy 416 00:19:57,280 --> 00:20:00,200 Speaker 1: five bucks now or risk paying the hundred dollars down 417 00:20:00,200 --> 00:20:02,320 Speaker 1: the road to make that outbound transfer. At least, at 418 00:20:02,320 --> 00:20:04,159 Speaker 1: the very least, just delete the app. That way, you 419 00:20:04,200 --> 00:20:06,840 Speaker 1: are not tempted to make any day trades. Yeah, and 420 00:20:06,840 --> 00:20:09,399 Speaker 1: we hope robin Hood reconsiders because that's just that's just 421 00:20:09,600 --> 00:20:11,919 Speaker 1: too hefty of a penalty, and they're basically penalizing their 422 00:20:11,960 --> 00:20:15,480 Speaker 1: own customers for wanting to transfer money out even partial transfers, 423 00:20:15,480 --> 00:20:17,239 Speaker 1: which is which is not cool. Yeah, I'm pretty sure 424 00:20:17,280 --> 00:20:19,760 Speaker 1: the average user, the average robin Hood user has two 425 00:20:19,800 --> 00:20:22,960 Speaker 1: thousand dollars of US in their account. That's five of 426 00:20:23,000 --> 00:20:26,679 Speaker 1: their Money's ridiculous, it's ridiculous, it's absurd, it's not Okay, 427 00:20:26,760 --> 00:20:29,760 Speaker 1: all right, let let's keep talking Matt about companies behaving 428 00:20:30,000 --> 00:20:32,800 Speaker 1: badly because there's one company that you and I have 429 00:20:32,880 --> 00:20:35,639 Speaker 1: had mostly good things to say about that we have 430 00:20:35,800 --> 00:20:39,320 Speaker 1: to throw onto the bus today that is Carbona and 431 00:20:39,720 --> 00:20:43,919 Speaker 1: Carbona that's where I bought how that's where I sold 432 00:20:44,320 --> 00:20:47,960 Speaker 1: my niece on Leaf which I was unnamed. So it 433 00:20:48,080 --> 00:20:50,159 Speaker 1: was a decent experience selling my car there. You had 434 00:20:50,160 --> 00:20:52,760 Speaker 1: a good experience buying with Carbona when they kind of 435 00:20:52,880 --> 00:20:54,960 Speaker 1: kind of started a revolution in the way that people 436 00:20:54,960 --> 00:20:57,760 Speaker 1: buy and sell used cars, which is cool. We've always 437 00:20:57,800 --> 00:21:00,399 Speaker 1: thought that that kind of the way they may buying 438 00:21:00,440 --> 00:21:02,960 Speaker 1: cars on the internet used cars on the internet just 439 00:21:03,200 --> 00:21:07,119 Speaker 1: easy and providing that seven day no worries or turn policy, 440 00:21:07,200 --> 00:21:09,840 Speaker 1: I've I've thought that was great. But what's not cool 441 00:21:10,040 --> 00:21:12,720 Speaker 1: is the way that they treat their employees. Apparently it 442 00:21:12,720 --> 00:21:16,880 Speaker 1: turns out they fired folks via a prerecorded zoom message 443 00:21:17,320 --> 00:21:20,359 Speaker 1: this week, and and Matt, this is eerily similar to 444 00:21:20,400 --> 00:21:24,320 Speaker 1: the way Mortgage Refinance Company Better handled layoffs a few 445 00:21:24,320 --> 00:21:26,680 Speaker 1: months back. The CEO kind of took some time off 446 00:21:26,720 --> 00:21:30,280 Speaker 1: after that because yeah, he kind of got uh put 447 00:21:30,320 --> 00:21:34,440 Speaker 1: through the wringer in the headlines after the way he handled, yeah, 448 00:21:34,520 --> 00:21:37,440 Speaker 1: laying some folks off, and so so honestly, here's my take. 449 00:21:37,520 --> 00:21:39,800 Speaker 1: If if you don't have the decency to treat your 450 00:21:39,800 --> 00:21:42,880 Speaker 1: employees with respect, then the likelihood that you're gonna treat 451 00:21:42,920 --> 00:21:45,879 Speaker 1: your customers, well, well, it's not that great either. I 452 00:21:46,040 --> 00:21:49,040 Speaker 1: am of the firm belief that happy employees equal happy customers, 453 00:21:49,400 --> 00:21:51,639 Speaker 1: and so I would say, think twice before buying a 454 00:21:51,640 --> 00:21:54,680 Speaker 1: car from Carbonna, until they write the ship here, until 455 00:21:54,680 --> 00:21:57,600 Speaker 1: they apologize, until they figure things out, because yeah, if 456 00:21:57,600 --> 00:22:00,639 Speaker 1: you're just gonna like willy nilly file hired you know, 457 00:22:00,920 --> 00:22:04,080 Speaker 1: ten percent of your workforce through some sort of prerecorded 458 00:22:04,119 --> 00:22:07,800 Speaker 1: message showing them little to no respect, I feel like, well, 459 00:22:07,920 --> 00:22:09,760 Speaker 1: are they actually going to show their customers respect? Are 460 00:22:09,800 --> 00:22:12,239 Speaker 1: they actually gonna uphold their end of the bargain with 461 00:22:12,320 --> 00:22:14,760 Speaker 1: you buying something as big as big of a purchase 462 00:22:15,119 --> 00:22:17,400 Speaker 1: as as a car. That's true, I think it would 463 00:22:17,400 --> 00:22:19,800 Speaker 1: be a stretch to think that they would treat customers 464 00:22:19,800 --> 00:22:22,920 Speaker 1: any differently. On that note, we're actually seeing more signs 465 00:22:22,960 --> 00:22:26,400 Speaker 1: of a changing labor market. It's not just Carbonna who's 466 00:22:26,480 --> 00:22:30,399 Speaker 1: laying folks off Peloton, Netflix, Wells, Fargo, UM and the 467 00:22:30,480 --> 00:22:33,200 Speaker 1: aforementioned Rebbin and they're they're also laying off a lot 468 00:22:33,240 --> 00:22:36,800 Speaker 1: of their staff the labor market. It remains hot. Overall, 469 00:22:36,840 --> 00:22:39,880 Speaker 1: there's still an average of two jobs for every individual 470 00:22:39,920 --> 00:22:42,719 Speaker 1: who is out there looking for a job, and so 471 00:22:42,800 --> 00:22:45,240 Speaker 1: this does continue to bode well for you if you're 472 00:22:45,240 --> 00:22:47,320 Speaker 1: looking for a job. But we also don't expect these 473 00:22:47,320 --> 00:22:50,119 Speaker 1: conditions to endure forever. So what we're saying is, if 474 00:22:50,119 --> 00:22:53,119 Speaker 1: you're planning an exit, it's even more important to make 475 00:22:53,160 --> 00:22:55,240 Speaker 1: sure that you have a solid place to land. I 476 00:22:55,280 --> 00:22:58,160 Speaker 1: also see this as a warning that the grass isn't 477 00:22:58,160 --> 00:23:00,640 Speaker 1: always greener. On the other side, we reach only dedicated 478 00:23:00,680 --> 00:23:04,040 Speaker 1: an episode to quitting your job the right way, and 479 00:23:04,400 --> 00:23:07,280 Speaker 1: a part of advancing in your career is moving along 480 00:23:07,320 --> 00:23:09,719 Speaker 1: to other companies. But as we've seen, there have been 481 00:23:09,720 --> 00:23:12,399 Speaker 1: a lot of companies over the course of the pandemic 482 00:23:12,440 --> 00:23:15,159 Speaker 1: the pandemic. Darling Company is like Peloton and some of 483 00:23:15,160 --> 00:23:19,639 Speaker 1: these other folks who saw explosive growth, higher tremendous numbers 484 00:23:19,680 --> 00:23:22,159 Speaker 1: of people. But there are a number of things to 485 00:23:22,240 --> 00:23:23,919 Speaker 1: keep in mind, not just the pay, not just the 486 00:23:23,960 --> 00:23:27,080 Speaker 1: salary that you are expecting from this new company. We 487 00:23:27,119 --> 00:23:29,040 Speaker 1: want you to make sure that you're making these decisions 488 00:23:29,040 --> 00:23:31,440 Speaker 1: for all of the right reasons, and that you're not 489 00:23:31,560 --> 00:23:34,560 Speaker 1: just looking at the bottom line dollar amount that you're 490 00:23:34,560 --> 00:23:37,040 Speaker 1: looking to get paid. Yeah, Obviously, our work, what we 491 00:23:37,080 --> 00:23:39,640 Speaker 1: do every day, who we work for, who we work with, 492 00:23:40,119 --> 00:23:43,600 Speaker 1: has a major influence on our quality of life. And 493 00:23:43,640 --> 00:23:44,960 Speaker 1: so you don't want to take a lot of things 494 00:23:45,040 --> 00:23:48,520 Speaker 1: into consideration before you jump ship. And and it's also 495 00:23:48,600 --> 00:23:51,280 Speaker 1: just important to note that who who knows how long 496 00:23:51,359 --> 00:23:53,679 Speaker 1: this hot labor market is going to persist. I wonder 497 00:23:53,720 --> 00:23:58,239 Speaker 1: if maybe these these these firings, are these layoffs, are 498 00:23:58,280 --> 00:24:00,960 Speaker 1: actually signs of more of this kind of behavior to 499 00:24:01,000 --> 00:24:03,359 Speaker 1: come cooling off the job market in a real way. 500 00:24:03,520 --> 00:24:06,240 Speaker 1: We'll see. But let's talk about debt for a second, 501 00:24:06,240 --> 00:24:09,080 Speaker 1: mat And let's we haven't talked about buying now pay 502 00:24:09,160 --> 00:24:11,639 Speaker 1: laters a whole lot lately, but it's something that we 503 00:24:11,680 --> 00:24:14,600 Speaker 1: touch on occasion. And and it turns out, buy now, 504 00:24:14,680 --> 00:24:18,720 Speaker 1: pay later companies are leading more millennials into debt. And 505 00:24:18,800 --> 00:24:20,960 Speaker 1: we've had kind of an issue, although we've kind of 506 00:24:20,960 --> 00:24:23,520 Speaker 1: come around a little bit recently when it comes to 507 00:24:23,600 --> 00:24:25,800 Speaker 1: companies like a firm and Clarna and and the San 508 00:24:25,800 --> 00:24:28,800 Speaker 1: Francisco Gate just published a great article about how some 509 00:24:28,840 --> 00:24:31,399 Speaker 1: of those companies are making it just obviously easier to 510 00:24:31,440 --> 00:24:34,680 Speaker 1: buy things over installments and how that leads to over consumption. 511 00:24:34,960 --> 00:24:36,600 Speaker 1: That's our big problem with it is that it makes 512 00:24:36,640 --> 00:24:40,320 Speaker 1: it easier to buy things over months instead of immediately, 513 00:24:40,440 --> 00:24:42,560 Speaker 1: and so you're like, you become a payment buyer and 514 00:24:42,560 --> 00:24:44,320 Speaker 1: you buy more stuff than you need, more stuff than 515 00:24:44,320 --> 00:24:46,520 Speaker 1: you can afford. It's not that the word against consumption. 516 00:24:46,600 --> 00:24:49,800 Speaker 1: We're just against that thoughtless consumption. And when different companies 517 00:24:49,840 --> 00:24:52,080 Speaker 1: like this make it easier for you to partake and 518 00:24:52,080 --> 00:24:54,760 Speaker 1: thoughtless consumption, that's what we have an issue with. That's right. 519 00:24:54,800 --> 00:24:57,600 Speaker 1: And Americans actually bought more than twenty billion dollars worth 520 00:24:57,640 --> 00:25:01,360 Speaker 1: of goods via these buy now, pay later services last year, 521 00:25:01,440 --> 00:25:04,800 Speaker 1: so much money and and so yeah, especially for folks 522 00:25:04,840 --> 00:25:06,800 Speaker 1: who are looking for an inexpensive way to boost their 523 00:25:06,840 --> 00:25:10,320 Speaker 1: credit score, these companies can actually be helpful. That's something 524 00:25:10,359 --> 00:25:12,960 Speaker 1: we've talked about recently as they're starting to report to 525 00:25:13,200 --> 00:25:16,479 Speaker 1: the credit bureaus activity for For some people who are 526 00:25:16,520 --> 00:25:18,880 Speaker 1: looking for that boost their scores in the five hundreds 527 00:25:18,960 --> 00:25:21,359 Speaker 1: or six hundreds or low seven hundreds, this can be 528 00:25:21,440 --> 00:25:24,840 Speaker 1: a way to include a new installment loan that actually 529 00:25:24,840 --> 00:25:28,680 Speaker 1: can boost your score if used well. But still, even 530 00:25:28,680 --> 00:25:32,040 Speaker 1: though that's the case, extreme caution is necessary when opting 531 00:25:32,040 --> 00:25:34,520 Speaker 1: to use by now pay later at checkout, and we 532 00:25:34,560 --> 00:25:37,879 Speaker 1: think that most folks should stay away altogether because of 533 00:25:37,880 --> 00:25:40,159 Speaker 1: the way people are using it. It's really hard to 534 00:25:40,240 --> 00:25:43,000 Speaker 1: use these things well, to use them sparingly, and so 535 00:25:43,000 --> 00:25:45,960 Speaker 1: they still present a huge risk for for lots of people. Totally. Yeah, 536 00:25:45,960 --> 00:25:48,959 Speaker 1: we're seeing some scary increases actually in the amount and 537 00:25:49,200 --> 00:25:51,520 Speaker 1: types of debt that folks are taking on recent months. 538 00:25:51,880 --> 00:25:54,600 Speaker 1: One of our least favorite debth methods, personal loans, are 539 00:25:54,600 --> 00:25:57,159 Speaker 1: actually pretty hot right now. They're hotter than mom jeans. 540 00:25:58,359 --> 00:26:01,159 Speaker 1: Folks are taking out your mom's not not I, but 541 00:26:01,200 --> 00:26:04,520 Speaker 1: my wife does. A lot of folks are taking out 542 00:26:04,600 --> 00:26:08,760 Speaker 1: personal loans at increase over last year, which is not good. 543 00:26:09,280 --> 00:26:13,080 Speaker 1: These numbers are a sign of debts overload, and we're 544 00:26:13,119 --> 00:26:15,200 Speaker 1: actually going to talk more about that. We're gonna talk 545 00:26:15,200 --> 00:26:17,960 Speaker 1: more about debt next week and how we think that 546 00:26:18,000 --> 00:26:20,399 Speaker 1: you should think about the role that debt plays in 547 00:26:20,440 --> 00:26:24,280 Speaker 1: your life in this shifting economy where rising interest rates 548 00:26:24,400 --> 00:26:26,800 Speaker 1: are having a pretty massive impact. And so you can 549 00:26:26,840 --> 00:26:30,000 Speaker 1: expect to find that episode in your podcatcher on Wednesday. 550 00:26:30,200 --> 00:26:32,560 Speaker 1: On Monday, we'll have a new Ask How the Money 551 00:26:32,560 --> 00:26:35,560 Speaker 1: episode lined up for you and until then, we hope 552 00:26:35,600 --> 00:26:38,200 Speaker 1: that you have a great weekend. And so Joel, that's 553 00:26:38,200 --> 00:26:40,520 Speaker 1: going to be a buddy until next time. Best friends out, 554 00:26:40,600 --> 00:26:41,840 Speaker 1: Best friends Out.