1 00:00:00,080 --> 00:00:03,080 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt, 2 00:00:03,080 --> 00:00:06,800 Speaker 1: and today we're discussing retreating rewards, new tax brackets in 3 00:00:06,840 --> 00:00:29,319 Speaker 1: workplace traps. That's right, Joel. This is our Friday flat 4 00:00:29,360 --> 00:00:32,479 Speaker 1: where we are tackling the most important headlines and specifically 5 00:00:32,680 --> 00:00:35,239 Speaker 1: we are going to address how those stories are going 6 00:00:35,320 --> 00:00:38,200 Speaker 1: to impact your personal finances. By the way, I love 7 00:00:38,400 --> 00:00:40,400 Speaker 1: that workplace traps one. I'm excited to get to that 8 00:00:40,400 --> 00:00:42,840 Speaker 1: one because not only is it an acronym the stance 9 00:00:42,960 --> 00:00:44,480 Speaker 1: or something, but it's also like a trap you gotta 10 00:00:44,479 --> 00:00:46,319 Speaker 1: watch how for So it's kind of athlete named. It's 11 00:00:46,360 --> 00:00:49,280 Speaker 1: so appropriately named. Yeah. But first, actually we don't have 12 00:00:49,360 --> 00:00:52,280 Speaker 1: any banter. We're gonna kind of launch straight into things. 13 00:00:52,320 --> 00:00:55,280 Speaker 1: But this first thing is something that we are incredibly 14 00:00:55,360 --> 00:00:58,200 Speaker 1: excited to share with you, our listener. We have just 15 00:00:58,280 --> 00:01:00,520 Speaker 1: launched the how to Money credit card our tool up 16 00:01:00,520 --> 00:01:02,160 Speaker 1: on the website. If you go to How the Money 17 00:01:02,160 --> 00:01:04,920 Speaker 1: dot com forward slash credit Cards, that's gonna take you 18 00:01:04,959 --> 00:01:08,000 Speaker 1: to this page that is going to allow you to 19 00:01:08,120 --> 00:01:10,440 Speaker 1: see all of the different credit card offers that are 20 00:01:10,480 --> 00:01:12,400 Speaker 1: out there. And what's great about this thing is that 21 00:01:12,440 --> 00:01:15,920 Speaker 1: you can easily filter what it is that you're looking for, uh, 22 00:01:15,920 --> 00:01:18,800 Speaker 1: and so whether that's specific airlines, whether you're looking for 23 00:01:18,840 --> 00:01:22,200 Speaker 1: a card without any annual fees or zero percent transaction 24 00:01:22,240 --> 00:01:26,480 Speaker 1: fee when you are abroad traveling, this tool has all 25 00:01:26,480 --> 00:01:28,800 Speaker 1: of those features baked into it. We're just so pumped 26 00:01:28,800 --> 00:01:30,800 Speaker 1: because I think this is gonna become sort of like 27 00:01:30,840 --> 00:01:32,760 Speaker 1: a just a one stop shop for folks as they 28 00:01:32,760 --> 00:01:36,160 Speaker 1: are looking for the next credit card that they're considering getting. No, 29 00:01:36,240 --> 00:01:38,559 Speaker 1: I agree, it's pretty cool. It's gonna help you because 30 00:01:38,600 --> 00:01:40,720 Speaker 1: everybody spends money differently, and they want different things out 31 00:01:40,720 --> 00:01:42,720 Speaker 1: of a credit card, and so absolutely this tool is 32 00:01:42,720 --> 00:01:44,760 Speaker 1: going to help you more quickly dial in and find 33 00:01:44,800 --> 00:01:46,839 Speaker 1: which one makes the most sense for you. We've written 34 00:01:46,840 --> 00:01:49,240 Speaker 1: content about you know, which how credit cards that you 35 00:01:49,280 --> 00:01:52,360 Speaker 1: and I've used, Matt, But our situation is different than yours, 36 00:01:52,480 --> 00:01:55,240 Speaker 1: and so we might benefit from a Costco card where 37 00:01:55,320 --> 00:01:57,840 Speaker 1: you might not because you don't have a Costco near 38 00:01:57,960 --> 00:01:59,840 Speaker 1: nearby where you live or something like that. And so 39 00:02:00,120 --> 00:02:02,120 Speaker 1: you can you can more easily, kind of based on 40 00:02:02,280 --> 00:02:04,720 Speaker 1: just a quick couple clicks of the mouse, find the 41 00:02:04,720 --> 00:02:06,480 Speaker 1: credit card that's going to make the most sense for you. Yeah, 42 00:02:06,520 --> 00:02:08,799 Speaker 1: just work those sliders, Yeah, like it allows you to 43 00:02:08,960 --> 00:02:11,800 Speaker 1: easily determine, like what your parameters are going to be 44 00:02:12,440 --> 00:02:15,560 Speaker 1: used reading some long what kind of dollar value does 45 00:02:15,720 --> 00:02:18,040 Speaker 1: each of these cards give you? So it's gonna spell 46 00:02:18,120 --> 00:02:20,960 Speaker 1: that out too. So yeah, we'd be curious to know 47 00:02:21,080 --> 00:02:22,760 Speaker 1: here your feedback after you give it a go, let 48 00:02:22,800 --> 00:02:24,800 Speaker 1: us know whether it makes sense for you and how 49 00:02:24,840 --> 00:02:26,760 Speaker 1: it helps. So yeah, that sound of money dot com 50 00:02:26,840 --> 00:02:29,120 Speaker 1: slash credit cards or also just go to the main 51 00:02:29,160 --> 00:02:31,160 Speaker 1: homepage and you'll see that you can click on the 52 00:02:31,200 --> 00:02:33,120 Speaker 1: top right corner and you'll get there too. That's right. 53 00:02:33,200 --> 00:02:35,320 Speaker 1: I So we launched this earlier this week, and I 54 00:02:35,360 --> 00:02:38,000 Speaker 1: even signed up for a new credit card through our 55 00:02:38,040 --> 00:02:41,799 Speaker 1: new tool. I signed up for a Southwest card because 56 00:02:41,960 --> 00:02:46,040 Speaker 1: my plan is to snag that Companion Pass hopefully, you 57 00:02:46,040 --> 00:02:49,240 Speaker 1: know sometimes like we talked about with Brian Kelly exactly, Yeah, exactly, 58 00:02:49,240 --> 00:02:50,720 Speaker 1: But and then you get two years of the free 59 00:02:50,720 --> 00:02:53,880 Speaker 1: Companion brilliant. Yeah, I'm still looking forward to because I've 60 00:02:53,919 --> 00:02:56,440 Speaker 1: never tried to get that Companion Pass. And Kate and 61 00:02:56,440 --> 00:02:58,600 Speaker 1: I we've been talking about, yeah, doing some doing some 62 00:02:58,600 --> 00:03:00,880 Speaker 1: more traveling. But if you're listening and you're like, well, 63 00:03:00,919 --> 00:03:03,000 Speaker 1: I'm not I'm not really big into traveling. Guess what, 64 00:03:03,120 --> 00:03:05,520 Speaker 1: there's a cash back option as well, and so instead 65 00:03:05,560 --> 00:03:07,840 Speaker 1: of clicking the airline's thing, you can just hit the 66 00:03:07,880 --> 00:03:11,600 Speaker 1: cash backslider and it'll show you all the cards that's 67 00:03:11,639 --> 00:03:15,200 Speaker 1: got the best cash back offers for you. But here's 68 00:03:15,200 --> 00:03:16,720 Speaker 1: the thing we like, we say all that with a 69 00:03:16,800 --> 00:03:19,440 Speaker 1: with a caveat here, because it's also really important to 70 00:03:19,440 --> 00:03:23,239 Speaker 1: be careful with credit cards. Uh, we're speaking out of 71 00:03:23,400 --> 00:03:25,280 Speaker 1: like both sides of our mouth here, double we always do, 72 00:03:25,320 --> 00:03:27,200 Speaker 1: we have to always do you have to include that 73 00:03:27,240 --> 00:03:28,680 Speaker 1: every time you talk about it or else. I don't know, 74 00:03:28,680 --> 00:03:31,079 Speaker 1: We're just not We're giving people all the information they needed. 75 00:03:31,440 --> 00:03:33,720 Speaker 1: We we definitely take a nuanced approach to I mean 76 00:03:33,760 --> 00:03:35,840 Speaker 1: to everything right like like, there's both sides of the 77 00:03:35,920 --> 00:03:39,160 Speaker 1: argument and write like credit cards they can provide amazing 78 00:03:39,160 --> 00:03:42,119 Speaker 1: benefits for folks who are disciplined right who pay off 79 00:03:42,120 --> 00:03:44,880 Speaker 1: the balance on time and in full every month. But 80 00:03:44,960 --> 00:03:48,200 Speaker 1: credit card interest rates are on the rise. The average 81 00:03:48,240 --> 00:03:50,560 Speaker 1: right now it's currently over eighteen percent, which is the 82 00:03:50,640 --> 00:03:54,760 Speaker 1: highest it's been in thirty years. Americans nowtent more on 83 00:03:54,800 --> 00:03:56,880 Speaker 1: their credit cards than they did a year ago. This 84 00:03:56,920 --> 00:04:00,760 Speaker 1: is according to the Federal Reserve Bank of New York. So, yeah, 85 00:04:00,760 --> 00:04:02,680 Speaker 1: if you're in credit card debt, you don't need a 86 00:04:02,720 --> 00:04:06,720 Speaker 1: new card, right, well, maybe a balance transfer card. We 87 00:04:06,760 --> 00:04:09,560 Speaker 1: actually do have an article on that up on the site. 88 00:04:09,840 --> 00:04:11,920 Speaker 1: But you need to put your your current one, your 89 00:04:11,920 --> 00:04:14,560 Speaker 1: current credit card on ice and man, you need to 90 00:04:14,560 --> 00:04:16,840 Speaker 1: get a plan to pay that balance off as soon 91 00:04:16,880 --> 00:04:20,839 Speaker 1: as possible. This is why we recommend the site undebt 92 00:04:21,040 --> 00:04:23,920 Speaker 1: dot it. So it's undebt it and they will help 93 00:04:23,960 --> 00:04:25,599 Speaker 1: you to put together a plan that's gonna work for you, 94 00:04:25,640 --> 00:04:28,400 Speaker 1: whether that's focusing on a car that has the highest 95 00:04:28,440 --> 00:04:31,400 Speaker 1: interest rate, whether that's focusing on any balances that you 96 00:04:31,480 --> 00:04:34,040 Speaker 1: might have that are the largest, or maybe even a 97 00:04:34,120 --> 00:04:36,760 Speaker 1: hybrid approach. The interesting thing is, I feel like credit 98 00:04:36,760 --> 00:04:38,680 Speaker 1: cards can be a double edge short and they can 99 00:04:38,760 --> 00:04:40,839 Speaker 1: totally are kind of like slice through your travel cost 100 00:04:40,960 --> 00:04:43,640 Speaker 1: or give you just insane cash back and rewards and 101 00:04:43,680 --> 00:04:46,000 Speaker 1: stuff like that, which is great for your personal finances, 102 00:04:46,000 --> 00:04:47,719 Speaker 1: but they can also have and for a lot of people, 103 00:04:47,760 --> 00:04:50,560 Speaker 1: they have the inverse effect where they're slicing a hole 104 00:04:50,680 --> 00:04:53,360 Speaker 1: in their finances and and the slice on the hole 105 00:04:53,400 --> 00:04:56,360 Speaker 1: in the bottom of your purse, yeah, wallet, exactly. It's 106 00:04:56,480 --> 00:04:58,839 Speaker 1: draining money out of your life, which is the exact 107 00:04:58,920 --> 00:05:01,080 Speaker 1: opposite of what we we think. You can use credit 108 00:05:01,080 --> 00:05:03,120 Speaker 1: cards effectively, but you can also use them poorly. And 109 00:05:03,120 --> 00:05:05,200 Speaker 1: if you're using them effectively, get the right ones that 110 00:05:05,240 --> 00:05:07,760 Speaker 1: are going to maximize rewards for you. But if you're not, 111 00:05:08,040 --> 00:05:09,560 Speaker 1: stay away from them and find a way to get 112 00:05:09,560 --> 00:05:11,120 Speaker 1: out of that credit card. Yet, you need be careful 113 00:05:11,120 --> 00:05:13,560 Speaker 1: because balances are on the rise. I saw like we 114 00:05:13,600 --> 00:05:16,640 Speaker 1: are nearing the highest So the highest levels were right 115 00:05:16,640 --> 00:05:19,000 Speaker 1: before the pandemic, like right right around three years ago, 116 00:05:19,360 --> 00:05:25,280 Speaker 1: October of nineteen, and it was over like nwenties something 117 00:05:25,920 --> 00:05:29,120 Speaker 1: billion billion with a beat nine seven billion, And I 118 00:05:29,120 --> 00:05:33,839 Speaker 1: would not be surprised that trillion. I know it's gonna 119 00:05:33,920 --> 00:05:35,840 Speaker 1: kind of be insane, but I wouldn't be surprised if 120 00:05:35,839 --> 00:05:37,479 Speaker 1: we get there before the end of the year. Yeah, 121 00:05:37,480 --> 00:05:40,520 Speaker 1: we really might. Well, let's let's talk about another topic, Matt, 122 00:05:40,560 --> 00:05:42,400 Speaker 1: that remains top of mind for folks right now, and 123 00:05:42,400 --> 00:05:45,960 Speaker 1: that is the president's recent move to grant student loanforgiveness 124 00:05:46,160 --> 00:05:48,520 Speaker 1: to millions and millions of borrowers. A lot of people 125 00:05:48,560 --> 00:05:52,039 Speaker 1: have been anxiously awaiting the application for that to become 126 00:05:52,080 --> 00:05:54,120 Speaker 1: publicly available because that was going to get post on 127 00:05:54,160 --> 00:05:57,320 Speaker 1: the posted on the Department of Education's website. Well, that 128 00:05:57,480 --> 00:06:00,360 Speaker 1: just happened this past weekend. And so if you qualify 129 00:06:00,480 --> 00:06:03,320 Speaker 1: for student loan forgiveness but you haven't yet filled out 130 00:06:03,360 --> 00:06:05,400 Speaker 1: the application, will post a link to that in our 131 00:06:05,400 --> 00:06:06,960 Speaker 1: show notes as well. It should take all of like 132 00:06:07,040 --> 00:06:09,240 Speaker 1: three minutes to fill out. It's not very long. But 133 00:06:09,400 --> 00:06:12,200 Speaker 1: it's also important to mention that some folks, by the way, 134 00:06:12,240 --> 00:06:16,000 Speaker 1: who are eligible for loan forgiveness under the PSLF program, 135 00:06:16,040 --> 00:06:19,760 Speaker 1: the Public Service Loan Forgiveness Program, have until Halloween to 136 00:06:19,800 --> 00:06:21,880 Speaker 1: file a waiver that can help them receive credit for 137 00:06:21,920 --> 00:06:24,880 Speaker 1: payments that might not have previously qualified. So we'll link 138 00:06:24,960 --> 00:06:26,720 Speaker 1: to that as well in the show notes. There's a 139 00:06:26,760 --> 00:06:28,719 Speaker 1: lot of moving parts, a lot of student loan stuff 140 00:06:28,760 --> 00:06:31,440 Speaker 1: going going on, but time is of the essence, specifically 141 00:06:31,480 --> 00:06:34,520 Speaker 1: on the PSLF one. The deadline for the student Loan 142 00:06:34,800 --> 00:06:37,320 Speaker 1: Forgiveness application. You've got till the end of the year, 143 00:06:37,360 --> 00:06:38,960 Speaker 1: so you can take a sweet time on that if 144 00:06:38,960 --> 00:06:41,160 Speaker 1: you want um, But when it comes to the PSLF 145 00:06:41,240 --> 00:06:43,880 Speaker 1: waiver that you gotta get done and the next week 146 00:06:43,920 --> 00:06:45,880 Speaker 1: and half basically, and basically I mean go ahead and 147 00:06:45,960 --> 00:06:47,960 Speaker 1: sit out and knock them both out. Like like Joe said, 148 00:06:48,000 --> 00:06:50,200 Speaker 1: it only took a couple of minutes. Um, you will 149 00:06:50,240 --> 00:06:52,040 Speaker 1: have to put your Social Security number and their folks 150 00:06:52,080 --> 00:06:53,640 Speaker 1: were kind of worried about that. But this is the 151 00:06:53,720 --> 00:06:56,680 Speaker 1: federal student aid website. So you see that dot gov. 152 00:06:56,920 --> 00:07:00,000 Speaker 1: You know you're in the right place. Do avoid uh 153 00:07:00,279 --> 00:07:03,240 Speaker 1: talking to anybody who reaches out to you directly, like 154 00:07:03,320 --> 00:07:08,080 Speaker 1: whether it's an email, text message, and social media. If 155 00:07:08,080 --> 00:07:10,440 Speaker 1: you venmil me a hundred bucks, I'll excite it. Yeah, 156 00:07:10,480 --> 00:07:13,120 Speaker 1: obviously you want to avoid that, but there are certainly 157 00:07:13,280 --> 00:07:16,800 Speaker 1: more attempts by those folks with more folks signing up 158 00:07:16,840 --> 00:07:20,400 Speaker 1: for that actual student unforgiveness and jel yeah, you said 159 00:07:20,400 --> 00:07:22,800 Speaker 1: you've got until Halloween to to sign up for that 160 00:07:22,880 --> 00:07:27,920 Speaker 1: PSLF waivers specifically, speaking of Halloween, candy is more expensive 161 00:07:27,960 --> 00:07:30,080 Speaker 1: this year. Uh, stats still free for me. I just 162 00:07:30,080 --> 00:07:33,400 Speaker 1: s tell my kids, got that daddy tax right. The 163 00:07:33,640 --> 00:07:37,280 Speaker 1: price of candy, it's it's actually almost exactly in line 164 00:07:37,320 --> 00:07:39,800 Speaker 1: with the cost of other grocery store items. It's up 165 00:07:39,840 --> 00:07:42,720 Speaker 1: about year of a year. And so how is it 166 00:07:42,760 --> 00:07:45,400 Speaker 1: that you keep candy costs low while still having a 167 00:07:45,400 --> 00:07:49,560 Speaker 1: great time this season? Well, you buy the bigger bags. Duh. 168 00:07:49,720 --> 00:07:51,880 Speaker 1: If you're planning on giving out tons of candy anyway, 169 00:07:51,920 --> 00:07:53,920 Speaker 1: the you know, the bags that have at least two 170 00:07:53,960 --> 00:07:55,840 Speaker 1: hundred pieces in there, that's going to get you the 171 00:07:55,840 --> 00:07:58,720 Speaker 1: most bang for your buck where you're able to lower 172 00:07:58,760 --> 00:08:01,840 Speaker 1: the cost of each individual east. Uh, that's at least 173 00:08:01,840 --> 00:08:03,640 Speaker 1: typically the case. And you know you can find those 174 00:08:03,680 --> 00:08:07,240 Speaker 1: big old bags at warehouse clubs like Sam's or Costco. Yeah, 175 00:08:07,240 --> 00:08:10,280 Speaker 1: it's gonna save your money. Then grabbing the twenty count 176 00:08:10,320 --> 00:08:12,320 Speaker 1: bag at a place like Target or Walmart. Right. Well, 177 00:08:12,320 --> 00:08:14,320 Speaker 1: I saw somebody in our Facebook group, Matt said they 178 00:08:14,360 --> 00:08:18,040 Speaker 1: buy the big big candy bar size, like the king 179 00:08:18,360 --> 00:08:20,640 Speaker 1: king size. Yeah we'll not king size, but like not 180 00:08:20,680 --> 00:08:23,280 Speaker 1: the tiny ones, right standards standard sized candy bars. And 181 00:08:23,280 --> 00:08:27,560 Speaker 1: I was like, you, okay, I hope that someone. I 182 00:08:27,560 --> 00:08:29,040 Speaker 1: think one of our listeners was like, I hope that's 183 00:08:29,040 --> 00:08:32,079 Speaker 1: your craft beer equivalent, because hey, maybe and maybe it is, 184 00:08:32,080 --> 00:08:33,439 Speaker 1: and maybe it is. Maybe you love to see the 185 00:08:33,520 --> 00:08:35,040 Speaker 1: joy on a kid's face when you're handing them like 186 00:08:35,040 --> 00:08:37,000 Speaker 1: a giant candy bar, and everywhere else are getting the 187 00:08:37,040 --> 00:08:39,000 Speaker 1: tiny ones. But you gotta make sure you're prepared to 188 00:08:39,040 --> 00:08:40,520 Speaker 1: spend the big bucks for it because it's gonna cost 189 00:08:40,520 --> 00:08:42,120 Speaker 1: more of this year. So yeah, that's definitely when the 190 00:08:42,160 --> 00:08:44,880 Speaker 1: daddy tacks kicks in because you see that one, you're like, oh, 191 00:08:44,920 --> 00:08:46,559 Speaker 1: that one's for that one's for mom and your daddy. 192 00:08:46,880 --> 00:08:48,839 Speaker 1: The little ones are those are for you. But we 193 00:08:48,880 --> 00:08:50,160 Speaker 1: sent off the top. That's how you teach your kids 194 00:08:50,160 --> 00:08:52,760 Speaker 1: of money lesson right there, right Well, and I hate 195 00:08:52,760 --> 00:08:55,520 Speaker 1: to beat a dead horse, Matt, but last week, you know, 196 00:08:55,520 --> 00:08:57,960 Speaker 1: we you and I we talked about fancy pet restaurants 197 00:08:58,040 --> 00:09:01,240 Speaker 1: charging seventy five bucks for a three or meal for 198 00:09:01,360 --> 00:09:04,280 Speaker 1: your dog. But and and just I just want to 199 00:09:04,280 --> 00:09:06,080 Speaker 1: say this because while we're on the note of Halloween, well, 200 00:09:06,080 --> 00:09:09,640 Speaker 1: pet owners are buying more expensive Halloween costumes for their pets. 201 00:09:09,640 --> 00:09:11,640 Speaker 1: So that that's that came out this week. The National 202 00:09:12,480 --> 00:09:15,720 Speaker 1: Retail Federation says that folks are likely to spend seven 203 00:09:15,960 --> 00:09:20,520 Speaker 1: million dollars on costumes. So much money. It's it's crazy, 204 00:09:20,520 --> 00:09:23,160 Speaker 1: it really is. And you know, I don't Here's what 205 00:09:23,200 --> 00:09:26,240 Speaker 1: I would suggest. Instead of spending money on a costume 206 00:09:26,280 --> 00:09:28,040 Speaker 1: for your pet, allow them to be a part of 207 00:09:28,040 --> 00:09:30,760 Speaker 1: your costume without having to get dressed up. So, in particular, 208 00:09:30,800 --> 00:09:32,120 Speaker 1: it works best if you have a hairless cat, then 209 00:09:32,160 --> 00:09:34,520 Speaker 1: you can be dr Evil from Austin Powers. That's I 210 00:09:34,520 --> 00:09:36,840 Speaker 1: don't know, that's just like one thought. But naked cat, 211 00:09:37,440 --> 00:09:39,000 Speaker 1: I guess all cats are naked. Maybe to shave your 212 00:09:39,000 --> 00:09:41,360 Speaker 1: cat if it does have fair sure, that's totally fun 213 00:09:41,400 --> 00:09:43,959 Speaker 1: with that, right, that's maybe I'll do that with with 214 00:09:43,960 --> 00:09:46,080 Speaker 1: one of ours. But I'm not gonna go hard on 215 00:09:46,120 --> 00:09:48,679 Speaker 1: this one. But yeah, spending spending on Halloween costumes, it 216 00:09:48,720 --> 00:09:50,640 Speaker 1: can bring lots of joy. I totally get it. It's 217 00:09:50,640 --> 00:09:53,280 Speaker 1: totally okay to dress your your dog up like a 218 00:09:53,320 --> 00:09:55,720 Speaker 1: pumpkin or a hot dog, which apparently are the top 219 00:09:55,720 --> 00:09:57,960 Speaker 1: two choices this year. But just don't go overboard and 220 00:09:58,000 --> 00:10:02,120 Speaker 1: maybe just maybe think about getting one used off Facebook 221 00:10:02,200 --> 00:10:04,800 Speaker 1: or something like that, or just reuse a costume from 222 00:10:04,840 --> 00:10:08,400 Speaker 1: last year. Check out eBay as well forget pet costumes. 223 00:10:08,440 --> 00:10:12,839 Speaker 1: Did you see the most popular kids costumes Spider Man? 224 00:10:13,240 --> 00:10:17,439 Speaker 1: Which classic? Right? And well, guess what our son is 225 00:10:17,480 --> 00:10:18,960 Speaker 1: going to be dressed up? He's a three year old 226 00:10:18,960 --> 00:10:20,760 Speaker 1: and he wants to be dressed up as Spider Man. 227 00:10:21,200 --> 00:10:24,280 Speaker 1: I didn't realize that we were so like basic middle class, 228 00:10:25,080 --> 00:10:26,520 Speaker 1: but I was like, oh wow, I guess that's not 229 00:10:26,679 --> 00:10:29,480 Speaker 1: really unique. To me, it's unique because you know, we've 230 00:10:29,520 --> 00:10:31,160 Speaker 1: had all girls up until now. So he's like, I 231 00:10:31,160 --> 00:10:34,040 Speaker 1: want to be Spiderman. I'm like, buddy, that's awesome. Sitting 232 00:10:34,080 --> 00:10:36,240 Speaker 1: to the majority of all kids who are participating in 233 00:10:36,240 --> 00:10:40,920 Speaker 1: Halloween was Spiderman in the Princess You're just like everyone else, 234 00:10:41,360 --> 00:10:43,800 Speaker 1: all right. Well, so those bags of candy, they're not 235 00:10:43,840 --> 00:10:47,640 Speaker 1: the only thing is getting smaller. Retail rewards have been 236 00:10:47,640 --> 00:10:50,920 Speaker 1: shrinking as well. Airlines like Delta they've been raising the 237 00:10:50,960 --> 00:10:55,240 Speaker 1: bar to achieve different status levels, and Duncan Donuts they 238 00:10:55,280 --> 00:10:58,760 Speaker 1: are pairing back reward perks for their customers as well. 239 00:10:58,880 --> 00:11:02,800 Speaker 1: The biggest or for regular visitors at Dunkin Donuts is 240 00:11:02,840 --> 00:11:06,200 Speaker 1: that they did away with their freebie birthday drink line 241 00:11:06,200 --> 00:11:08,200 Speaker 1: too far, so you can slash that off of the 242 00:11:08,280 --> 00:11:11,680 Speaker 1: all the places to visit on your birthday list. But 243 00:11:11,720 --> 00:11:16,040 Speaker 1: they're also requiring more visits to crew some of those 244 00:11:16,080 --> 00:11:19,079 Speaker 1: you know, different free coffee benefits and drinks throughout the 245 00:11:19,160 --> 00:11:21,720 Speaker 1: year as well. Uh. And honestly, that like this is 246 00:11:21,800 --> 00:11:24,679 Speaker 1: just part of the reality of inflation. It's one way 247 00:11:24,880 --> 00:11:27,880 Speaker 1: that businesses are able to fight back and it often 248 00:11:27,920 --> 00:11:30,680 Speaker 1: allows them to keep other price increases in check. And 249 00:11:30,720 --> 00:11:33,360 Speaker 1: so I know some folks are pretty bummed about things. 250 00:11:33,360 --> 00:11:35,559 Speaker 1: But would you rather lose some of these benefits or 251 00:11:35,559 --> 00:11:38,400 Speaker 1: would you rather see the price of actual coffee, of 252 00:11:38,480 --> 00:11:40,520 Speaker 1: the actual product go up across the board and a 253 00:11:40,520 --> 00:11:42,400 Speaker 1: dozen donuts to take up two bucks, or would you 254 00:11:42,520 --> 00:11:44,240 Speaker 1: rather miss out on some of these rewards. I get 255 00:11:44,240 --> 00:11:46,880 Speaker 1: it exactly. It's tough sledding out there, but retailers have 256 00:11:46,920 --> 00:11:49,839 Speaker 1: to make choices as their cost of doing business goes up. 257 00:11:50,040 --> 00:11:51,679 Speaker 1: And so this is one of those things where we're 258 00:11:51,679 --> 00:11:53,839 Speaker 1: gonna take it on the chin as or at least 259 00:11:53,840 --> 00:11:55,439 Speaker 1: people who like dunking donuts a lot are going to 260 00:11:55,520 --> 00:11:57,120 Speaker 1: take it on the chin. Let's talk about the new 261 00:11:57,160 --> 00:11:59,480 Speaker 1: tax brackets for a second map because you know, one 262 00:11:59,640 --> 00:12:02,280 Speaker 1: benefit bit of inflation, a silver lining, if you will, 263 00:12:02,720 --> 00:12:05,800 Speaker 1: is that the I R S has has changed changed 264 00:12:05,840 --> 00:12:09,800 Speaker 1: up the tax brackets for next year for tax three. 265 00:12:10,280 --> 00:12:13,560 Speaker 1: And obviously what you pay in taxes is dependent on 266 00:12:13,600 --> 00:12:16,720 Speaker 1: a bunch of different things. It's depending on your specific situation, 267 00:12:16,840 --> 00:12:19,680 Speaker 1: your income, your filing status. You know how much you're 268 00:12:19,720 --> 00:12:22,160 Speaker 1: giving away, how much you're contributing through retirement accounts, like 269 00:12:22,200 --> 00:12:25,400 Speaker 1: all of the above. But the nice thing is the 270 00:12:25,480 --> 00:12:28,760 Speaker 1: tax tax brackets have gone up basically in line with 271 00:12:28,840 --> 00:12:30,640 Speaker 1: what we've seen for inflation. You can see those new 272 00:12:30,679 --> 00:12:33,479 Speaker 1: tax brackets. Will link to the I r S website 273 00:12:33,600 --> 00:12:35,480 Speaker 1: on our website at how to money dot com, so 274 00:12:35,520 --> 00:12:38,080 Speaker 1: you can see specifically where you might fall in. But 275 00:12:38,200 --> 00:12:40,880 Speaker 1: the standard deduction is also going up, which is another 276 00:12:40,880 --> 00:12:43,880 Speaker 1: good thing for taxes. Uh. It's twenty seven thousand, seven 277 00:12:43,960 --> 00:12:47,480 Speaker 1: hundred dollars for married folks next year and eight hundred 278 00:12:47,480 --> 00:12:50,319 Speaker 1: and fifty dollars for single individuals. And man, it makes 279 00:12:50,360 --> 00:12:52,200 Speaker 1: sense for the vast majority of folks to take the 280 00:12:52,240 --> 00:12:56,600 Speaker 1: standard deduction something close to American of Americans can and 281 00:12:56,600 --> 00:13:00,079 Speaker 1: should take the standard deduction, right, they'd be worse off 282 00:13:00,000 --> 00:13:02,800 Speaker 1: if they chose to optimize because the standarduction is is 283 00:13:02,840 --> 00:13:05,240 Speaker 1: so rich, And it's just nice to see that climb 284 00:13:05,240 --> 00:13:09,080 Speaker 1: by a meaningful amount. That, combined with the tax bracket increases, 285 00:13:09,120 --> 00:13:12,720 Speaker 1: I think could see a decent chuck of Americans paying 286 00:13:12,800 --> 00:13:15,599 Speaker 1: less in federal income tax next year. Exactly. Yeah, So 287 00:13:15,640 --> 00:13:17,480 Speaker 1: that's yeah, Like you said, it's kind of a silver lining. 288 00:13:17,520 --> 00:13:20,960 Speaker 1: But some some clearly some definite good news is on 289 00:13:21,000 --> 00:13:24,720 Speaker 1: the retirement account front. We have seen those contribution limits 290 00:13:25,120 --> 00:13:26,560 Speaker 1: on the rise as well. You're gonna be able to 291 00:13:26,559 --> 00:13:31,800 Speaker 1: put sixty dollars into iras next year. That's five hundred 292 00:13:31,840 --> 00:13:34,600 Speaker 1: bucks more than last year. Uh. And you can contribute 293 00:13:34,640 --> 00:13:37,480 Speaker 1: to thousand dollars more to a four one K or 294 00:13:37,679 --> 00:13:40,600 Speaker 1: a four or three B up to two thousand, five 295 00:13:40,679 --> 00:13:43,600 Speaker 1: hundred dollars. So this is all great for those of 296 00:13:43,640 --> 00:13:47,280 Speaker 1: us who are looking to dramatically save and invest for 297 00:13:47,360 --> 00:13:49,840 Speaker 1: our retirement. On that note, hs A limits they actually 298 00:13:49,840 --> 00:13:51,640 Speaker 1: went up by a few hundred bucks as well. Uh. 299 00:13:51,720 --> 00:13:54,640 Speaker 1: Individuals can contribute two hundred dollars more than they could 300 00:13:54,720 --> 00:13:58,040 Speaker 1: last year for a grand total of three thousand, eight 301 00:13:58,080 --> 00:14:00,800 Speaker 1: hundred and fifty dollars. And married folks and contribute four 302 00:14:01,160 --> 00:14:04,040 Speaker 1: dollars more for a total of seven thousand, seven hundred 303 00:14:04,040 --> 00:14:05,920 Speaker 1: and fifty dollars. And so keep in mind that's for 304 00:14:06,040 --> 00:14:08,480 Speaker 1: hs A s, which are health savings accounts. Those are 305 00:14:08,480 --> 00:14:12,560 Speaker 1: the accounts that we see as the number one account 306 00:14:12,640 --> 00:14:16,679 Speaker 1: basically to invest into. They've got that triple tax advantage. 307 00:14:17,040 --> 00:14:19,480 Speaker 1: To get more money into those is two amazing things. 308 00:14:19,600 --> 00:14:22,000 Speaker 1: Yeah yeah, uh. And so even though those dollar amounts 309 00:14:22,000 --> 00:14:24,400 Speaker 1: seem small, just realize the benefit that they're gonna be 310 00:14:24,400 --> 00:14:26,120 Speaker 1: able to provide you is it's sort of like three 311 00:14:26,320 --> 00:14:29,200 Speaker 1: x if you don't think about it that way. But 312 00:14:29,240 --> 00:14:32,560 Speaker 1: don't confuse hs A S with f essays flexible spending 313 00:14:32,560 --> 00:14:35,720 Speaker 1: accounts because those limits are actually increasing as well, from 314 00:14:36,800 --> 00:14:39,960 Speaker 1: fifty to three thousand fifty dollars as well. Uh So 315 00:14:40,040 --> 00:14:42,040 Speaker 1: bottom line, you know, if you're getting after it's nice 316 00:14:42,080 --> 00:14:44,160 Speaker 1: to know that you'll be able to funnel a little 317 00:14:44,200 --> 00:14:46,840 Speaker 1: more money, a little more dough into those pre tax 318 00:14:47,080 --> 00:14:50,760 Speaker 1: retirement accounts starting January one. And so what that means 319 00:14:50,800 --> 00:14:52,600 Speaker 1: if if you're like me and you set aside five 320 00:14:52,640 --> 00:14:55,680 Speaker 1: hundred bucks every single month for the next year, right, 321 00:14:55,720 --> 00:14:57,320 Speaker 1: and so I always want to make sure I've got 322 00:14:57,400 --> 00:15:01,280 Speaker 1: they're always over retrieving ready to go, because you, I mean, 323 00:15:01,360 --> 00:15:03,840 Speaker 1: history shows you earn more like you see higher returns 324 00:15:03,880 --> 00:15:07,360 Speaker 1: with the most time in the market versus timing the market. 325 00:15:07,360 --> 00:15:08,960 Speaker 1: And so it's better to get that money in a 326 00:15:09,120 --> 00:15:11,720 Speaker 1: SAP as soon as possible. Uh And so what that 327 00:15:11,760 --> 00:15:14,280 Speaker 1: means though, is that there's a five difference to make up. 328 00:15:14,400 --> 00:15:16,120 Speaker 1: So just make sure that you stash away an extra 329 00:15:16,440 --> 00:15:19,520 Speaker 1: to fifty uh for November and December. That way you 330 00:15:19,600 --> 00:15:21,960 Speaker 1: do have that not just six thousand dollars come January, 331 00:15:21,960 --> 00:15:25,680 Speaker 1: but that full ready to rip, and then moving forward 332 00:15:25,840 --> 00:15:28,240 Speaker 1: you are looking at something more like it's like five 333 00:15:29,000 --> 00:15:31,160 Speaker 1: bucks if you want to make sure you have that 334 00:15:31,240 --> 00:15:35,600 Speaker 1: full just over a month. There you go. So yeah, 335 00:15:35,600 --> 00:15:38,200 Speaker 1: if you want to, if you're starting January, if you're 336 00:15:38,200 --> 00:15:40,160 Speaker 1: if you're not like Matt, you're not over achieving, You're 337 00:15:40,160 --> 00:15:42,400 Speaker 1: just contributing the the amount every month to try to 338 00:15:42,440 --> 00:15:44,680 Speaker 1: max it out. In January, you're gonna start wanting to 339 00:15:44,680 --> 00:15:47,800 Speaker 1: put away five a month to max it out, whereas 340 00:15:47,800 --> 00:15:50,040 Speaker 1: before you were just doing There you go. All right, 341 00:15:50,040 --> 00:15:53,920 Speaker 1: we got more stories to get to, including a fascinating 342 00:15:54,040 --> 00:15:56,920 Speaker 1: new study about how where you work is going to 343 00:15:57,000 --> 00:15:59,920 Speaker 1: make a major difference in your economic mobility and your 344 00:16:00,040 --> 00:16:02,720 Speaker 1: your financial success. Will get to that and more right 345 00:16:02,760 --> 00:16:13,960 Speaker 1: after this break. Alright, we're back from the break, and 346 00:16:14,040 --> 00:16:17,160 Speaker 1: we've got several additional stories to get to, uh, including 347 00:16:17,160 --> 00:16:20,640 Speaker 1: we're gonna talk about the new Apple banking product that's 348 00:16:20,640 --> 00:16:23,120 Speaker 1: gonna be rolling out. But before we get to that, Joe, 349 00:16:23,120 --> 00:16:25,720 Speaker 1: we've got our ludicrous headline of the week, and this 350 00:16:25,760 --> 00:16:29,000 Speaker 1: one comes from Business Insider, and it reads, the era 351 00:16:29,080 --> 00:16:32,840 Speaker 1: of free returns maybe coming to an end. Oh man, 352 00:16:32,960 --> 00:16:36,680 Speaker 1: This is bad news because basically some businesses out there, 353 00:16:36,720 --> 00:16:39,840 Speaker 1: they're starting to charge fees to return the stuff that 354 00:16:39,880 --> 00:16:43,520 Speaker 1: you've ordered online. And the reason for that is returns 355 00:16:43,560 --> 00:16:47,080 Speaker 1: can be a massive headache for retailers that costs them 356 00:16:47,160 --> 00:16:50,320 Speaker 1: quite a bit of money. I totally understand they're desired 357 00:16:50,520 --> 00:16:52,400 Speaker 1: to to do this. It almost has felt like it's 358 00:16:52,560 --> 00:16:54,520 Speaker 1: like a lost leader, like the ability for them to 359 00:16:54,600 --> 00:16:58,960 Speaker 1: offer free return shipping in order to kind of vacuum 360 00:16:59,040 --> 00:17:01,320 Speaker 1: up all those consumers out there to get you beholden 361 00:17:01,360 --> 00:17:03,920 Speaker 1: to that website or to that service, depending on the 362 00:17:03,920 --> 00:17:06,560 Speaker 1: condition of that the item is in once it gets returned, 363 00:17:06,560 --> 00:17:09,080 Speaker 1: sometimes it's unsellable and sometimes they just have to donate it, 364 00:17:09,240 --> 00:17:11,879 Speaker 1: or it costs money and labor to put that item 365 00:17:11,880 --> 00:17:14,800 Speaker 1: back on the shelf, or it's not perfect conditions, so 366 00:17:14,840 --> 00:17:16,879 Speaker 1: I get a retaler. So often it returns to a 367 00:17:16,920 --> 00:17:18,240 Speaker 1: big problem for you. Do you care? Like if you 368 00:17:18,280 --> 00:17:20,520 Speaker 1: buy something alone and you can tell that it has 369 00:17:20,600 --> 00:17:23,119 Speaker 1: already been returned, because you can kind of tell, right like, 370 00:17:23,720 --> 00:17:26,840 Speaker 1: does that bother you? It depends. It depends on whether 371 00:17:26,880 --> 00:17:30,159 Speaker 1: it's clearly busted, like and sometimes obviously if it's busted, 372 00:17:30,240 --> 00:17:32,280 Speaker 1: it's like okay, no, this is legit broken, but like 373 00:17:32,320 --> 00:17:34,320 Speaker 1: we ordered something recently and you could tell that it 374 00:17:34,960 --> 00:17:36,520 Speaker 1: they had tried it out, and I was like, you 375 00:17:36,560 --> 00:17:39,080 Speaker 1: know what. At first, I was kind of offended because like, 376 00:17:39,160 --> 00:17:41,760 Speaker 1: how dare they send me something that's not perfectly new? 377 00:17:42,200 --> 00:17:44,239 Speaker 1: But at the same time, I don't know, like when 378 00:17:44,280 --> 00:17:46,879 Speaker 1: you go in store in person and buy something, like 379 00:17:46,920 --> 00:17:49,920 Speaker 1: whether it's a shirt or something, like people try things 380 00:17:49,920 --> 00:17:51,840 Speaker 1: on and how is that all that different I guess 381 00:17:51,840 --> 00:17:55,240 Speaker 1: than somebody making return themselves. And it feels different, I 382 00:17:55,240 --> 00:17:58,280 Speaker 1: guess because we're not necessarily used to it's not that 383 00:17:58,320 --> 00:18:00,639 Speaker 1: as used, but it's something that someone else's touched, you know, 384 00:18:00,640 --> 00:18:03,320 Speaker 1: it's not like it's straight from the manufacturer. But if 385 00:18:03,359 --> 00:18:08,200 Speaker 1: you are wondering which retailers are trying these return fees out, uh, 386 00:18:08,280 --> 00:18:11,280 Speaker 1: some companies who have admitted to doing this our h 387 00:18:11,280 --> 00:18:15,439 Speaker 1: and m Zara. Uh, not just the fast fashion folks 388 00:18:15,440 --> 00:18:17,840 Speaker 1: out there, but other retailers as well, like Jay Crew, 389 00:18:18,359 --> 00:18:21,159 Speaker 1: Crews not fast fashion. That's to me, they're kind of 390 00:18:21,200 --> 00:18:25,200 Speaker 1: like in the middle, J C. Penny, DWS, Abercrombie. Um, 391 00:18:25,240 --> 00:18:28,080 Speaker 1: they're still around actually, believe it or not. That's also 392 00:18:28,119 --> 00:18:30,760 Speaker 1: news to me. That was Joel's other other high school 393 00:18:30,840 --> 00:18:35,160 Speaker 1: job was standing out in front, like I've bench pressed 394 00:18:35,240 --> 00:18:39,280 Speaker 1: enough to do that, but others other retailers are likely 395 00:18:39,320 --> 00:18:41,560 Speaker 1: going to follow suit if there isn't too much of 396 00:18:41,560 --> 00:18:45,159 Speaker 1: a revolt. And we, of course we hate fees and 397 00:18:45,200 --> 00:18:47,199 Speaker 1: we want you to avoid them. You know, you can 398 00:18:47,240 --> 00:18:50,199 Speaker 1: sometimes avoid these return fees if you are part of 399 00:18:50,240 --> 00:18:52,800 Speaker 1: some of these different membership programs that these retailers are offering, 400 00:18:53,240 --> 00:18:57,119 Speaker 1: or by returning the items in person instead of shipping 401 00:18:57,119 --> 00:18:58,840 Speaker 1: them back. It's you know, like, we know that that 402 00:18:58,840 --> 00:19:00,600 Speaker 1: it's going to be annoying, but my be what you 403 00:19:00,600 --> 00:19:03,760 Speaker 1: have to do in order to avoid these these return fees. 404 00:19:04,240 --> 00:19:06,639 Speaker 1: And some work with third party companies so you can 405 00:19:06,720 --> 00:19:08,840 Speaker 1: drop them off in a more convenient location. Let's say 406 00:19:08,840 --> 00:19:10,679 Speaker 1: you do buy from a j CRU or something like that, 407 00:19:10,680 --> 00:19:12,480 Speaker 1: and you're like, there's no store anywhere nearby me, I 408 00:19:12,480 --> 00:19:13,840 Speaker 1: have to send it back, but they're gonna charge me 409 00:19:13,880 --> 00:19:15,600 Speaker 1: a few to do it. Well, sometimes they work with 410 00:19:15,640 --> 00:19:17,280 Speaker 1: the third party companies so you can drop it off 411 00:19:17,280 --> 00:19:19,119 Speaker 1: at like UPS store or something like that to make 412 00:19:19,160 --> 00:19:20,720 Speaker 1: it a little bit easier and also allow you to 413 00:19:20,720 --> 00:19:23,240 Speaker 1: avoid some of those fees. I think Happy Returns is 414 00:19:23,720 --> 00:19:25,879 Speaker 1: one of these companies that does that on behalf of 415 00:19:25,920 --> 00:19:27,879 Speaker 1: certain retailers like a Walgreens. I feel like they were 416 00:19:27,920 --> 00:19:29,560 Speaker 1: one of those partners as well. That might be Yeah, 417 00:19:29,560 --> 00:19:31,359 Speaker 1: I think you can return into a few different places 418 00:19:31,560 --> 00:19:33,720 Speaker 1: if you're doing it through Happy returns, But you also 419 00:19:33,800 --> 00:19:35,959 Speaker 1: might want to reconsider where you do your shopping. Right 420 00:19:36,200 --> 00:19:40,040 Speaker 1: if a retailer that you like, even if ordering online 421 00:19:40,119 --> 00:19:43,320 Speaker 1: is incredibly convenient and easy, well, if it's becoming more 422 00:19:43,359 --> 00:19:45,680 Speaker 1: annoying and expensive to return the items that you get, 423 00:19:45,760 --> 00:19:47,480 Speaker 1: you're like, wait a second, this doesn't fit the way 424 00:19:47,480 --> 00:19:50,639 Speaker 1: I wanted it to, this doesn't look the way it 425 00:19:50,640 --> 00:19:52,960 Speaker 1: looked online, then we would say you might want to 426 00:19:53,000 --> 00:19:55,119 Speaker 1: think twice about buying from that retailer if they're going 427 00:19:55,160 --> 00:19:57,600 Speaker 1: to charge your fees to take it back. Shopping in 428 00:19:57,640 --> 00:20:00,160 Speaker 1: person is another thing, and I'm not keen on doing 429 00:20:00,160 --> 00:20:01,800 Speaker 1: that myself, map, but I know some people are like 430 00:20:01,880 --> 00:20:04,400 Speaker 1: they've gotten used to shopping online, but maybe maybe they 431 00:20:04,400 --> 00:20:07,720 Speaker 1: have realized that they're spending too much buying stuff online anyway, 432 00:20:07,880 --> 00:20:09,600 Speaker 1: and shopping in person is the best way to test 433 00:20:09,600 --> 00:20:11,959 Speaker 1: stuff out so you don't find yourself in the position 434 00:20:11,960 --> 00:20:14,800 Speaker 1: of having to send stuff back you know, all the time, 435 00:20:15,680 --> 00:20:18,199 Speaker 1: or the or holding onto things because you forgot to 436 00:20:18,200 --> 00:20:20,840 Speaker 1: make returns. That's a problem too that people run into. 437 00:20:21,040 --> 00:20:23,600 Speaker 1: So yeah, those are a few ways to fight back against. 438 00:20:23,680 --> 00:20:26,560 Speaker 1: Gotta be intentional about it. Yeah, potential potential few return 439 00:20:26,800 --> 00:20:29,280 Speaker 1: charges that you might encounter. But I mean that being said, 440 00:20:29,280 --> 00:20:30,840 Speaker 1: I think it's gonna be really tough because I think 441 00:20:31,000 --> 00:20:34,120 Speaker 1: individuals consumers have fallen in love with free returns over 442 00:20:34,160 --> 00:20:37,520 Speaker 1: the past several years. Um, you've all. I forget his 443 00:20:37,600 --> 00:20:39,760 Speaker 1: last name. Sapiens is the book that he wrote though, 444 00:20:39,760 --> 00:20:42,480 Speaker 1: but he talks about how initially when we experience something, 445 00:20:42,480 --> 00:20:44,720 Speaker 1: it's a luxury, but then we start taking those luxuries 446 00:20:44,720 --> 00:20:46,800 Speaker 1: for granted, and pretty soon we we start depending on 447 00:20:46,880 --> 00:20:49,600 Speaker 1: all those things. Two days shipping was a novelty until 448 00:20:49,640 --> 00:20:52,720 Speaker 1: I was like, I wanted to want the additional costs 449 00:20:52,760 --> 00:20:55,879 Speaker 1: and responsibilities in our lives. I wanted three hours after cooking. 450 00:20:55,920 --> 00:20:59,200 Speaker 1: Now we have to, like, it's gonna take some serious, intentional, 451 00:20:59,640 --> 00:21:03,320 Speaker 1: like active behavior in order to fight this desire to 452 00:21:03,400 --> 00:21:06,639 Speaker 1: continue down this path that we've basically been trained to 453 00:21:06,720 --> 00:21:10,760 Speaker 1: go down. But Jola's hit on another story which this 454 00:21:10,880 --> 00:21:13,280 Speaker 1: actually could have been our our ludicrous headline. I feel 455 00:21:13,280 --> 00:21:15,280 Speaker 1: like we always come across the couple every week. We're 456 00:21:15,400 --> 00:21:18,080 Speaker 1: that kind of makes in there, man, because there's a 457 00:21:18,119 --> 00:21:20,320 Speaker 1: couple that really suck a little bit. Uh. And it 458 00:21:20,440 --> 00:21:24,560 Speaker 1: is that more US companies they're charging their employees for training. 459 00:21:24,960 --> 00:21:28,880 Speaker 1: We we actually talked about this recently pet Smart. They're 460 00:21:28,880 --> 00:21:31,800 Speaker 1: they're charging employees thousands of dollars if they received training 461 00:21:31,800 --> 00:21:33,600 Speaker 1: but then don't stay with a company for at least 462 00:21:33,640 --> 00:21:36,320 Speaker 1: a couple of years. Not cool at all. But it 463 00:21:36,359 --> 00:21:39,800 Speaker 1: looks like now that pet smart isn't alone. Reuters they 464 00:21:39,800 --> 00:21:42,280 Speaker 1: had an article this week that said that nearly ten 465 00:21:42,400 --> 00:21:46,400 Speaker 1: percent of US workers are covered by a TRAP and Joel, 466 00:21:46,480 --> 00:21:49,919 Speaker 1: this is what you're referring to earlier. This is a 467 00:21:50,000 --> 00:21:54,360 Speaker 1: training repayment agreement provision. And it's not like the businesses 468 00:21:54,400 --> 00:21:56,040 Speaker 1: are calling it that because of course they would have 469 00:21:56,040 --> 00:21:58,920 Speaker 1: wanted to avoid the acronym traffic. This is an acronym 470 00:21:59,000 --> 00:22:02,880 Speaker 1: that critics have coin your employee, please sign this trap um. 471 00:22:03,160 --> 00:22:05,679 Speaker 1: It's like, wait, what, your red flags aren't going up 472 00:22:05,680 --> 00:22:07,600 Speaker 1: when they slide that across the table and paying attention 473 00:22:07,600 --> 00:22:10,639 Speaker 1: if it's not yeah, and said, it's just yeah an 474 00:22:10,640 --> 00:22:13,800 Speaker 1: appropriate acronym for saying that the training like this is 475 00:22:13,840 --> 00:22:16,440 Speaker 1: on you if you don't stay at the company for 476 00:22:16,480 --> 00:22:18,880 Speaker 1: a specified period of time. So it's not just pet Smart, 477 00:22:18,880 --> 00:22:22,000 Speaker 1: it's other places to nurses, truck driver, salon workers and 478 00:22:22,040 --> 00:22:24,800 Speaker 1: more are being forced into signing these traps, and it 479 00:22:24,840 --> 00:22:27,679 Speaker 1: often keeps people locked into a job that they'd otherwise 480 00:22:28,160 --> 00:22:29,840 Speaker 1: like to leave, but it would cost them too much 481 00:22:29,880 --> 00:22:31,880 Speaker 1: to go elsewhere. They're like, man, I would go down 482 00:22:31,920 --> 00:22:33,679 Speaker 1: the road the labor markets robust. I can make more 483 00:22:33,680 --> 00:22:36,560 Speaker 1: money over there. But because I signed this piece of paper, 484 00:22:36,840 --> 00:22:40,080 Speaker 1: I'm gonna owe my current employer money for the training 485 00:22:40,119 --> 00:22:42,520 Speaker 1: that I received, and I don't have that cash on hand. 486 00:22:42,600 --> 00:22:45,240 Speaker 1: It's a real problem. So we would say, make sure 487 00:22:45,280 --> 00:22:47,000 Speaker 1: you know what you're signing when you get a new 488 00:22:47,080 --> 00:22:51,560 Speaker 1: job that requires training. If it says trap at the top, runaway. 489 00:22:51,680 --> 00:22:53,639 Speaker 1: But even if it doesn't read the fine print, make 490 00:22:53,680 --> 00:22:55,360 Speaker 1: sure you know what you're getting into, know how much 491 00:22:55,359 --> 00:22:58,560 Speaker 1: it's gonna cost you if you decide this job isn't 492 00:22:58,560 --> 00:23:02,160 Speaker 1: for you before the agreement expires. And they also note 493 00:23:02,200 --> 00:23:05,000 Speaker 1: in the story that lawmakers are considering legislation to put 494 00:23:05,080 --> 00:23:07,560 Speaker 1: some boundaries on these sorts of agreements, which could be 495 00:23:07,640 --> 00:23:10,040 Speaker 1: a good thing, but until then, it's on you to 496 00:23:10,080 --> 00:23:12,520 Speaker 1: look out for yourself and to watch out for these 497 00:23:12,560 --> 00:23:15,120 Speaker 1: workplace traps that apparently here, you know, getting more people 498 00:23:15,119 --> 00:23:16,680 Speaker 1: than I thought. I didn't realize, Matt, ten percent of 499 00:23:16,760 --> 00:23:19,400 Speaker 1: the workforces, a lot of has signed something like this. Yeah, 500 00:23:19,400 --> 00:23:21,439 Speaker 1: it's a lot of folks. It's a big deal. The 501 00:23:21,480 --> 00:23:24,840 Speaker 1: truth is working for the right company that goes a 502 00:23:24,840 --> 00:23:27,320 Speaker 1: long way, right, A company that that that treats you well, 503 00:23:27,400 --> 00:23:29,359 Speaker 1: like a like a human being, that doesn't set traps 504 00:23:29,359 --> 00:23:33,680 Speaker 1: for you. A new five year study by the Burning 505 00:23:33,680 --> 00:23:37,160 Speaker 1: Glass Institute, they find that where you work has a 506 00:23:37,160 --> 00:23:40,240 Speaker 1: lot to do with your potential for career advancement. It's 507 00:23:40,280 --> 00:23:43,640 Speaker 1: less about your like your specific title, or your specific job, 508 00:23:43,760 --> 00:23:47,000 Speaker 1: or even an industry, and it's more about the company 509 00:23:47,040 --> 00:23:49,200 Speaker 1: that you opt to work at. This the study literally 510 00:23:49,240 --> 00:23:51,520 Speaker 1: listed out the top companies that offer folks the most 511 00:23:51,760 --> 00:23:57,640 Speaker 1: economic and job opportunity the most chances for advancement. Will 512 00:23:57,680 --> 00:23:59,560 Speaker 1: link to the study in the show notes. But some 513 00:23:59,560 --> 00:24:01,520 Speaker 1: companies that were there near the top of the list 514 00:24:01,560 --> 00:24:05,800 Speaker 1: where Apple, A T and t Amex, Microsoft, Liberty Mutual 515 00:24:06,119 --> 00:24:09,400 Speaker 1: Southwest as well, so they double shout out to Southwest. 516 00:24:09,520 --> 00:24:11,600 Speaker 1: They were all near the top of the heap and 517 00:24:11,760 --> 00:24:14,680 Speaker 1: companies that you should feel pretty good about working for. Yeah, 518 00:24:14,800 --> 00:24:17,760 Speaker 1: and Costco actually made it in the top see that. 519 00:24:17,760 --> 00:24:19,640 Speaker 1: I think they were in Nestling in their number twenty three. 520 00:24:19,680 --> 00:24:22,240 Speaker 1: They treat their employees well, they do, and it's it's true. 521 00:24:22,280 --> 00:24:24,840 Speaker 1: I think every company has a culture, and it's it's 522 00:24:24,840 --> 00:24:27,359 Speaker 1: just easier than ever before to figure out what that 523 00:24:27,400 --> 00:24:30,400 Speaker 1: company culture is before you start applying for jobs. Often times, 524 00:24:30,560 --> 00:24:32,200 Speaker 1: before the Internet mat it was like word of mouth. 525 00:24:32,200 --> 00:24:33,440 Speaker 1: It's like, yeah, it was a great place to work. 526 00:24:33,480 --> 00:24:35,600 Speaker 1: They treat me well. But now, back when companies were 527 00:24:35,600 --> 00:24:37,800 Speaker 1: also small and so I mean that probably worked back 528 00:24:37,800 --> 00:24:39,760 Speaker 1: in the day, right, because it's like, well, it was 529 00:24:39,800 --> 00:24:42,440 Speaker 1: easier back then because the companies were smaller, and it's like, well, yeah, 530 00:24:42,480 --> 00:24:44,080 Speaker 1: you still had it. I don't know, it took maybe 531 00:24:44,080 --> 00:24:46,600 Speaker 1: a little more legwork for you. But now that these 532 00:24:46,600 --> 00:24:48,159 Speaker 1: companies are big and massive, it's like, how are you 533 00:24:48,200 --> 00:24:50,960 Speaker 1: supposed to figure out how they're treating this entire division 534 00:24:51,000 --> 00:24:54,760 Speaker 1: of people? Internet? Yeah, technology studies studies like this one, 535 00:24:54,880 --> 00:24:58,000 Speaker 1: workplace forums sites like glass door are really helpful to 536 00:24:58,080 --> 00:25:02,040 Speaker 1: analyze companies before you start applying. Milly Nilly and we 537 00:25:02,040 --> 00:25:04,199 Speaker 1: would say to prioritize companies that do right by their 538 00:25:04,200 --> 00:25:07,080 Speaker 1: employees right trying to ask folks who worked there about 539 00:25:07,400 --> 00:25:10,359 Speaker 1: how that company approaches pay raises and promotions before you 540 00:25:10,400 --> 00:25:13,160 Speaker 1: even agree to go in for an interview. And this study, 541 00:25:13,240 --> 00:25:15,800 Speaker 1: by the way, Matt, it's got this great interactive tool 542 00:25:15,880 --> 00:25:18,399 Speaker 1: on their website so you can kind of dig down 543 00:25:18,480 --> 00:25:21,199 Speaker 1: and see which companies rank well on a bunch of 544 00:25:21,200 --> 00:25:23,960 Speaker 1: different factors. So we would say it's definitely worth checking 545 00:25:24,000 --> 00:25:25,199 Speaker 1: out and going there. But a lot of a lot 546 00:25:25,240 --> 00:25:28,479 Speaker 1: of great tools that were recommending exactly well. Yeah, And 547 00:25:28,480 --> 00:25:30,320 Speaker 1: and I thought it was important to mention too that 548 00:25:30,359 --> 00:25:33,200 Speaker 1: Dollar Tree Dollar General offered some of the most room 549 00:25:33,240 --> 00:25:35,240 Speaker 1: for advancement for folks without a college degree. And they 550 00:25:35,280 --> 00:25:38,040 Speaker 1: specifically have a button on this site that says like 551 00:25:38,160 --> 00:25:40,479 Speaker 1: I don't have a college degree, boom, which companies are 552 00:25:40,480 --> 00:25:42,560 Speaker 1: going to be best for me in that position? And 553 00:25:42,560 --> 00:25:45,520 Speaker 1: they highlight like people specifically at a Dollar Tree and 554 00:25:45,560 --> 00:25:48,080 Speaker 1: stuff like that, even if you don't have a college degree, 555 00:25:48,080 --> 00:25:49,800 Speaker 1: you can end up at something make a district manager 556 00:25:49,840 --> 00:25:52,960 Speaker 1: making big money without ever having gone to college, which 557 00:25:52,960 --> 00:25:56,440 Speaker 1: I think is cool. So unlike working for Microsoft or Intel, 558 00:25:56,920 --> 00:25:59,720 Speaker 1: who have very high standards as to snagging that entry level, 559 00:25:59,760 --> 00:26:02,320 Speaker 1: that initial position exactly, but there's it's it's nice to 560 00:26:02,560 --> 00:26:04,480 Speaker 1: see it broken out like that. I think this tool 561 00:26:04,600 --> 00:26:07,240 Speaker 1: and seeing super which companies are great at promoting people 562 00:26:07,240 --> 00:26:10,080 Speaker 1: and increasing their pay Like, man, those are the companies 563 00:26:10,119 --> 00:26:12,840 Speaker 1: I'd want to be applying applying at first. Yeah, and 564 00:26:12,880 --> 00:26:14,600 Speaker 1: plus it's just good to be able to I feel 565 00:26:14,600 --> 00:26:18,359 Speaker 1: like we crap all over Dollar General and uh because 566 00:26:18,400 --> 00:26:20,320 Speaker 1: he was like that. But there's opportunity. It's also good 567 00:26:20,359 --> 00:26:22,120 Speaker 1: to see though that they are it seems like they're 568 00:26:22,160 --> 00:26:24,440 Speaker 1: doing a great job when it comes to the kind 569 00:26:24,440 --> 00:26:27,439 Speaker 1: of culture that they're fostering within their companies. Well, Jola's 570 00:26:27,680 --> 00:26:29,479 Speaker 1: get to this story for all the Apple fan boys 571 00:26:29,480 --> 00:26:33,280 Speaker 1: out there, finger Els fan boys. I'm not sure if 572 00:26:33,320 --> 00:26:36,119 Speaker 1: we needed another online bank, but we're definitely going to 573 00:26:36,160 --> 00:26:39,080 Speaker 1: be getting one. We've well, you know, we've talked about 574 00:26:39,080 --> 00:26:42,159 Speaker 1: the virtues of online banks regularly on the show. We 575 00:26:42,280 --> 00:26:46,040 Speaker 1: like Ally Discover, C, I, T, and Marcus. These are 576 00:26:46,200 --> 00:26:48,360 Speaker 1: some of the best ones out there. And actually Marcus 577 00:26:48,640 --> 00:26:52,280 Speaker 1: is run by Goldman Sachs, who partnered with Apple to 578 00:26:52,359 --> 00:26:55,399 Speaker 1: launch their credit card. Well now they're actually partnering to 579 00:26:55,480 --> 00:26:59,120 Speaker 1: launch an Apple branded bank and with more than half 580 00:26:59,119 --> 00:27:02,800 Speaker 1: of Americans as Apple users. It's worth noting that you 581 00:27:02,880 --> 00:27:05,400 Speaker 1: might be seeing a lot more about this new product soon. 582 00:27:06,000 --> 00:27:08,240 Speaker 1: It's honestly right, at this point, it's too early to 583 00:27:08,240 --> 00:27:10,280 Speaker 1: tell whether or not it's going to be worth signing 584 00:27:10,359 --> 00:27:13,160 Speaker 1: up for. I will say that Marcus, like their high 585 00:27:13,240 --> 00:27:16,040 Speaker 1: Yield Savings account, currently is offering a rate at two 586 00:27:16,080 --> 00:27:18,520 Speaker 1: point three five percent, which, again, like we said, that 587 00:27:18,680 --> 00:27:22,160 Speaker 1: is solid and hopefully we see something exactly the same 588 00:27:22,760 --> 00:27:25,440 Speaker 1: or at least very very comparable that Apple is able 589 00:27:25,440 --> 00:27:28,359 Speaker 1: to offer. It's still not what uh C I T 590 00:27:28,560 --> 00:27:30,719 Speaker 1: is offering. I mean, we can barely keep up with them. 591 00:27:30,920 --> 00:27:34,080 Speaker 1: They rolled out three percent earlier this week, which is crazy. 592 00:27:34,720 --> 00:27:36,600 Speaker 1: But you know, we know that this account will feature 593 00:27:37,000 --> 00:27:39,800 Speaker 1: no minimums, no fees, but we don't know what the 594 00:27:39,800 --> 00:27:41,840 Speaker 1: actual interest rate's going to be. Uh well you know, 595 00:27:41,960 --> 00:27:43,879 Speaker 1: nor you know what additional features they're going to be 596 00:27:43,920 --> 00:27:46,480 Speaker 1: offering as well. But either way, they can't hurt to 597 00:27:46,480 --> 00:27:50,800 Speaker 1: have another solid competitor within the online making space, and 598 00:27:50,840 --> 00:27:52,960 Speaker 1: we'll make sure to keep you all updated when we 599 00:27:53,040 --> 00:27:55,680 Speaker 1: know more. For sure. Yeah, as an Android user, of course, 600 00:27:56,400 --> 00:27:58,879 Speaker 1: I will not be using this bank, Matthew, unless they 601 00:27:58,920 --> 00:28:01,879 Speaker 1: are actually tough here top notch. But we'll see. I 602 00:28:01,920 --> 00:28:04,240 Speaker 1: don't know if it's even Google will allow me to 603 00:28:04,280 --> 00:28:05,760 Speaker 1: get the Apple on my Pixel phone. I don't know. 604 00:28:06,280 --> 00:28:08,920 Speaker 1: Apple and Google don't say like you can't get there 605 00:28:08,960 --> 00:28:12,560 Speaker 1: from here, Sorry, you gotta go on your web browser, idiot, 606 00:28:12,760 --> 00:28:15,000 Speaker 1: which you know. If it's good enough, maybe I'll do it. 607 00:28:15,119 --> 00:28:17,960 Speaker 1: But last story of the day, Matt, let's let's talk 608 00:28:17,960 --> 00:28:21,480 Speaker 1: about Aldi for a second. CNN had an article listener 609 00:28:21,560 --> 00:28:24,600 Speaker 1: Masa said this one our way, and basically, even though 610 00:28:24,600 --> 00:28:27,000 Speaker 1: you and I we've been preaching the Aldi gospel for 611 00:28:27,080 --> 00:28:30,080 Speaker 1: years now, it feels like we've been like John the Baptist, 612 00:28:30,119 --> 00:28:33,560 Speaker 1: crying in the wilderness with a few people listening. But yeah, 613 00:28:33,800 --> 00:28:37,280 Speaker 1: conversions are happening more rapidly now, especially amongst middle and 614 00:28:37,359 --> 00:28:40,880 Speaker 1: high income folks who are becoming more price sensitive as 615 00:28:40,880 --> 00:28:43,960 Speaker 1: inflation just obviously continues to be a major problem. Foot 616 00:28:43,960 --> 00:28:47,400 Speaker 1: traffic into all these stores is up double digits percentage points, 617 00:28:47,440 --> 00:28:49,479 Speaker 1: and that makes sense to me, right, food prices are 618 00:28:49,480 --> 00:28:52,640 Speaker 1: on the rise. Just the act of changing where you 619 00:28:52,640 --> 00:28:56,120 Speaker 1: buy your groceries can lower your bill dramatically. No cup 620 00:28:56,200 --> 00:28:58,960 Speaker 1: on clipping necessary, which is my kind of thing, because 621 00:28:59,680 --> 00:29:02,120 Speaker 1: I don't like huvans. I hate doing that stuff. And 622 00:29:02,520 --> 00:29:05,160 Speaker 1: and but all the inlital are the two top low 623 00:29:05,160 --> 00:29:07,520 Speaker 1: cost options that most folks should consider. And if you've 624 00:29:07,600 --> 00:29:09,600 Speaker 1: yet to venture into one, we would say this weekend 625 00:29:09,600 --> 00:29:11,320 Speaker 1: it's a perfect time to check one out. And you're 626 00:29:11,320 --> 00:29:12,760 Speaker 1: not the only one who's gonna be doing it. More 627 00:29:12,760 --> 00:29:16,400 Speaker 1: and more folks are are leaning towards the discount grocer's 628 00:29:16,680 --> 00:29:19,040 Speaker 1: and the truth is they could lop a decent portion 629 00:29:19,120 --> 00:29:22,080 Speaker 1: off your grocery bill every single month then, especially as 630 00:29:22,120 --> 00:29:24,400 Speaker 1: it keeps going higher and higher thanks to inflation, like 631 00:29:24,480 --> 00:29:26,400 Speaker 1: you gotta fight back in some way. This is the 632 00:29:26,440 --> 00:29:28,920 Speaker 1: easiest way, we would say to fight back and say big, 633 00:29:28,960 --> 00:29:30,960 Speaker 1: that's right, man, But that is going to be it 634 00:29:31,040 --> 00:29:32,800 Speaker 1: for our Friday flight. Don't forget to check out the 635 00:29:32,800 --> 00:29:34,960 Speaker 1: credit card tool. So how do money dot com forward 636 00:29:34,960 --> 00:29:38,320 Speaker 1: slash credit cards? And we hope everyone has a great weekend. 637 00:29:38,840 --> 00:29:41,200 Speaker 1: We'll see you back here on Monday. We actually have 638 00:29:41,280 --> 00:29:43,000 Speaker 1: got a great interview lined up and we're gonna be 639 00:29:43,000 --> 00:29:46,320 Speaker 1: talking about crypto. It's been a minute since we've we've 640 00:29:46,320 --> 00:29:48,520 Speaker 1: talked about that. Crypto is like locked away in the 641 00:29:48,520 --> 00:29:51,080 Speaker 1: freezer right now, in the depths of despair. But it's 642 00:29:51,080 --> 00:29:53,760 Speaker 1: worth talking about winter. We had an expert that we're 643 00:29:53,760 --> 00:29:57,320 Speaker 1: bringing on who is a journalist. She talks about crypto 644 00:29:57,600 --> 00:29:59,440 Speaker 1: every day for a living, so I'm curious to We're 645 00:29:59,440 --> 00:30:01,480 Speaker 1: curious to pick her brain. Here her thoughts and we'll 646 00:30:01,480 --> 00:30:03,719 Speaker 1: share that with you on Monday. Absolutely, but Joe, that's 647 00:30:03,760 --> 00:30:06,040 Speaker 1: going to be it for this one. Buddy, until next time, 648 00:30:06,200 --> 00:30:08,320 Speaker 1: Best friends out, Best Friends Out.