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Speaker 1: Welcome to How the Money. I'm Joel and I am Matt,

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Speaker 1: and today we're discussing why degrees are for Dummies, the

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Speaker 1: best new credit card park out there, and crypto Psychos.

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Speaker 1: Crypto Psychos. That's that's got a nice ring to it

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Speaker 1: looking forward, seems like radical sabbaticals. Actually, yeah, it does

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Speaker 1: have a similar ring for sure. This is our Friday

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Speaker 1: flight where every week we've taken a look at some

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Speaker 1: of the different headlines that we've come across this week

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Speaker 1: and we're gonna talk about how they're going to impact

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Speaker 1: your money. We've got a lot of different stories we're

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Speaker 1: gonna get to. But first, Joel, did you wanna talk

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Speaker 1: about that? We got that email from a listener up

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Speaker 1: in New York, Barry, and he was basically he was complaining. Uh,

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Speaker 1: and it's okay to complain when the laws are stacked

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Speaker 1: against you. Well, fortunate Barry was not complaining about us,

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Speaker 1: which to us, which honestly, you know, we received complaints

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Speaker 1: about ourselves on occasion from listeners and were Williams taking

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Speaker 1: We actually have an address where you can submit that

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Speaker 1: How the Money dot com slash do better. So if

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Speaker 1: you think there's room for improvement on the show. We

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Speaker 1: we would love that constructive criticism, but no, Barry had

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Speaker 1: complaints about some of the laws in his state of

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Speaker 1: New York. And and Barry is a seventy five year

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Speaker 1: old listener, which I just love the first of all people.

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Speaker 1: That is amazing listen. And I had no idea that,

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Speaker 1: you know, I don't know. I picture somebody like me,

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Speaker 1: maybe somebody a little bit younger, somebody a little bit older.

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Speaker 1: But to have seventy five year old listeners, that's amazing.

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Speaker 1: That's fun. It's cool, so super cool. Big thanks to

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Speaker 1: Berry for reaching out. But and he was telling me

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Speaker 1: something I did not know that in the state of

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Speaker 1: New York, it is illegal to ride an e bike

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Speaker 1: on streets where it's what over thirty miles an hour

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Speaker 1: I think exactly, And so it is permitted only on

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Speaker 1: streets where it's thirty miles per hour or less. That's

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Speaker 1: that's the law. So what it's doing is it's preventing

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Speaker 1: somebody from Barry from hopping on a bike because at

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Speaker 1: the age of seventy five, my guess is like, I'll

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Speaker 1: only want to ride e bikes to mostly pride bikes now.

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Speaker 1: But so I think you mentioned to that just around him,

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Speaker 1: there's a lot of elevation change, like there's a lot

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Speaker 1: of hills and it's not the easiest for him, and

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Speaker 1: regular bikers are still allowed to ride on these streets.

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Speaker 1: That's what the bikers are. So that's the problem, right,

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Speaker 1: because on one hand, I could see the state, whoever

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Speaker 1: it is that set the rules, you know, I could

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Speaker 1: see them saying, well, this is for the safety of

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Speaker 1: the e bike rider. We want to make sure that

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Speaker 1: you're not taking your e bike on a road that's

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Speaker 1: set for forty per hour because we don't want you

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Speaker 1: holding up traffic on the interstate is obviously and really

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Speaker 1: any biking you don't want to do that. But the

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Speaker 1: fact is you can totally make an argument that an

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Speaker 1: e bike would be better suited on any road out

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Speaker 1: there versus a traditional biking. Right with e as sist,

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Speaker 1: you're more likely to be able to sustain a faster speed.

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Speaker 1: And so yeah, it's it's kind of ridiculous, but it's

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Speaker 1: one of the things that you come across when there

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Speaker 1: are rules or laws that are trying to be passed,

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Speaker 1: you know, on a very broad basis where it's not

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Speaker 1: taking individual circumstances into account. Right, we would much rather

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Speaker 1: see us as individuals have the freedom to decide ourselves

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Speaker 1: whether or not we are willing to take that risk.

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Speaker 1: Because guess what, there's a thirty five road, Joel, just

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Speaker 1: outside of our neighborhood. I don't ride on that road

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Speaker 1: because basically it's like a four lane highway. Even though

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Speaker 1: did you know that it was three five miles per

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Speaker 1: hour out there on Moreland, most of the cars go

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Speaker 1: a lot faster. Yes, yeah, exactly. And because I never

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Speaker 1: ran on that road, uh, it sort of seems like

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Speaker 1: a death wish. But even still, I think it should

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Speaker 1: be up to the individual because fact is, for him,

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Speaker 1: specifically for Berry, this law is it's it's costing the

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Speaker 1: state money, right because for him, what's going to have

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Speaker 1: more of an impact on the infrastructure, him running a

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Speaker 1: bike and an e bike around or him driving a vehicle.

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Speaker 1: I guarantee the vehicle is going to be harder on

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Speaker 1: the roads than than his bike. It's it's costing him

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Speaker 1: money because it's going to be much more affordable for

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Speaker 1: Barry to get around on the bike versus a car.

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Speaker 1: It's gonna give him some exercise, and and I think

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Speaker 1: just wherever bikes go, ebike should be able to go totally. Um.

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Speaker 1: And I told Barry, I was like, reach out to

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Speaker 1: your to your local representative. I think these are the

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Speaker 1: kind of things that you should take to your local representative.

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Speaker 1: They should hear from you if there is a law

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Speaker 1: like that that you're like, that doesn't work for me,

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Speaker 1: and I don't you know, And maybe he'll get a

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Speaker 1: good explanation that makes sense. But and and maybe nothing

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Speaker 1: will change, but at least your voice should be heard.

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Speaker 1: And so that's what we encouraged Barry to do. Very

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Speaker 1: best of luck. And I hate that you can't ride

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Speaker 1: any bike right now, man, But Matt, let's move on.

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Speaker 1: Let's get to the Friday Flight sampling of stories we

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Speaker 1: found interesting this week and how they pertain to your

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Speaker 1: personal finances. The first story we have to cover is

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Speaker 1: let's talk about inflation again, because we got some new

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Speaker 1: inflation numbers this week, and it's surprised. Eight and a

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Speaker 1: half percent year over year is now where the rate

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Speaker 1: of inflation stands. And uh, I don't know if you remember, Matt,

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Speaker 1: the word transitory they got used a lot. We use

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Speaker 1: that word. We even mentioned it, yes, And uh, that

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Speaker 1: was a cute word, but it ended up not lasting

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Speaker 1: right quickly, I all agree with the cute phase, and

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Speaker 1: it quickly launched it stuff into that awkward middle school phase. Yes,

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Speaker 1: that's what the eight and a half feels like right now,

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Speaker 1: where it's just like, oh man, that's that's rough. And

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Speaker 1: most of us didn't need to hear those inflation numbers

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Speaker 1: on Tuesday to to realize that prices are going up.

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Speaker 1: That's all around us, right at the grocery store, at

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Speaker 1: the gas pomp especially. We're seeing it all around us.

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Speaker 1: We're experiencing it basically every day. And there was a

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Speaker 1: new survey from CNBC and Acorns, and it revealed that

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Speaker 1: forty percent of Americans say they're thinking about higher prices,

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Speaker 1: quote unquote all the time. So I don't know if

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Speaker 1: that means like while they're sleeping, while while they're talking

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Speaker 1: to friends, like they can't get it off their minds,

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Speaker 1: but I get it right. It's kind of pervasive and

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Speaker 1: it's something that we kind of can't stop thinking about

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Speaker 1: because it affects us so much. And even for folks

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Speaker 1: with you know, solid savings and a steady job, inflation

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Speaker 1: has created financial hardship and uncertainty, and then for folks

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Speaker 1: living paycheck to paycheck, food, rent and gas price increases

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Speaker 1: have had, of course, an even bigger impact. Inflation continues

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Speaker 1: to be a problem that hurts consumers everywhere. Yeah, you

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Speaker 1: can't use the line anymore where it's just like, well,

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Speaker 1: it's it's only a certain sector of the economy. I

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Speaker 1: seeing inflation. No, no, No, food, housing, rent, the cost

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Speaker 1: of gasoline. These are only things that we all have

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Speaker 1: to pay like virtually, like on a daily or monthly basis.

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Speaker 1: I'm going on a hunger strike because of inflation. But

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Speaker 1: but yeah, we are. We're seeing even higher rates of

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Speaker 1: inflation in some of those specific sectors like food at home,

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Speaker 1: So that's that's groceries and Federal Reserve speak. But it's

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Speaker 1: actually up ten percent, So in reality we're probably feeling

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Speaker 1: it a bit more acutely than the numbers are actually showing. Uh.

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Speaker 1: And of course the Fed they are finally raising rates

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Speaker 1: in an effort to slow the rate of inflation right now,

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Speaker 1: but that could induce other problems that are yet to

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Speaker 1: be seen. Headlines in every major financial publication these days

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Speaker 1: are shouting that this might lead us into a recession.

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Speaker 1: With our words that's right. Yeah, we're actually gonna talk

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Speaker 1: more about the possibility of a recession and what it

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Speaker 1: is that you could do to prepare for that possibility. Yeah,

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Speaker 1: you can look forward to that episode next Wednesday. Yeah.

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Speaker 1: By the way, if you're not subscribed to the show,

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Speaker 1: and make sure you subscribe so you do get all

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Speaker 1: of those episodes in your podcastcher And and Matt, You're right,

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Speaker 1: Let's talk about gas for a second, because that was

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Speaker 1: like the number one reason for inflation continuing to go up.

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Speaker 1: And you know, uh, the prices are up forty year

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Speaker 1: over year, just um for for gasoline. But one of

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Speaker 1: the biggest questions I've had personally is why is it

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Speaker 1: the gas prices seem to shoot up like a rocket,

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Speaker 1: but they fall so slowly even as oil prices are cratering. Well,

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Speaker 1: the Washington Post actually tackled that conspiracy this week, which

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Speaker 1: I appreciate because that has definitely been a conspiracy theory

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Speaker 1: on my mind. Crude oil prices are down more than

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Speaker 1: in the past month and a half, but gas prices

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Speaker 1: really have only ticked down just a little bit in

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Speaker 1: most places, and that to me seems suspicious, Like, is

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Speaker 1: is there price fixing going on like what's happening and uh, Well,

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Speaker 1: the best explanation given by an economist from Clemson is

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Speaker 1: that driver's shop more carefully when gas prices are rising.

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Speaker 1: They tend to be less price sensitive when gas prices

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Speaker 1: are falling, and so these gas stations are actually making

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Speaker 1: less money as prices are shooting through the roof. They

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Speaker 1: don't want to be seen like they're gouging their customers

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Speaker 1: or as being the most expensive get gas station on

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Speaker 1: the block, so that they end up losing people who

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Speaker 1: would normally fill up there on a regular basis. But

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Speaker 1: then as prices fall, they have more ability to increase

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Speaker 1: their margins, and so that that made sense to me.

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Speaker 1: I guess it's always been frustrating that gas prices don't

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Speaker 1: seem to follow us quickly, but I thought that explanation

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Speaker 1: made sense. If you want to kind of read more

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Speaker 1: detail on that, there was a great explanation in that article.

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Speaker 1: Will link to it in our show notes. Yeah, and

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Speaker 1: hopefully prices will will fall a little bit faster though,

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Speaker 1: because the average driver is spending more than two percent

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Speaker 1: of their monthly income on gas right now, and that

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Speaker 1: is it's not an insignificant amount at least, and these

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Speaker 1: guy had gas prices. They are just impacting us individually

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Speaker 1: at the pump, because even if you drive an electric vehicle,

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Speaker 1: you're still paying for these increased prices, these higher costs

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Speaker 1: of gas as well. And that's because rising diesel prices

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Speaker 1: means transporting goods across the country that that's costing all

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Speaker 1: of us more money. Even rising jet fuel costs mean

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Speaker 1: that what you pay for an airline ticket, that that

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Speaker 1: is going up as well. Jet fuel it literally costs

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Speaker 1: a hundred and thirty nine percent more than it did

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Speaker 1: not a year ago, not year over year, but just

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Speaker 1: from January one, which is insane. Uh. And so yeah,

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Speaker 1: keep that mind, because you do have the ability to

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Speaker 1: curb your own your gas consumption that at least up

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Speaker 1: into a point we are still going to notice and

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Speaker 1: feel that increase in and countless other areas of our

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Speaker 1: lives as well. That's right. So it feels like it's

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Speaker 1: all dooming loom on the inflation front. Prices are going up.

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Speaker 1: There's not much we can do about it. I mean

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Speaker 1: a lot of bad news. Yeah, and there are again

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Speaker 1: we've talked about this on on past episodes, Matt, there

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Speaker 1: are things people can do to combat inflation, and one

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Speaker 1: of those is to shop around for goods and services

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Speaker 1: that you already used in order to save money, especially

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Speaker 1: those recurring monthly expenses. And I thought my found cool

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Speaker 1: this week. One of the places that you're not seeing

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Speaker 1: prices increase is when it comes to your cell phone bill,

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Speaker 1: at least if you're a smart shopper. And we talked

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Speaker 1: about Mittmobile quite a bit on the show, like they

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Speaker 1: they've helped basically fuel a price war that has benefited

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Speaker 1: all of us. But this is an about Mint. No,

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Speaker 1: this is about another cell phone company, because there are

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Speaker 1: other fantastic cellphone carriers out there too, fantastic discounters and

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Speaker 1: will five has some excellent plan offerings that just got

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Speaker 1: a good bit cheaper this week. Their unlimited plan for

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Speaker 1: one person, it's it's still, in my estimation, a little expensive.

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Speaker 1: It's fifty bucks mint Mint Mobiles is thirty. But if

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Speaker 1: you can wrangle four folks onto that same unlimited plan,

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Speaker 1: your monthly total is only going to be eighty bucks

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Speaker 1: bucks of person, right for unlimited calling, texting, and data

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Speaker 1: is pretty great. So, um, I think family plan is back.

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Speaker 1: Tell me that's right. So, if you're one of those

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Speaker 1: people that likes unlimited data, unlimited everything, and you want

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Speaker 1: one low, flat, flat fee, flat price Google fies offering

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Speaker 1: is now top tier in my boat. That's really nice

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Speaker 1: to not have to think about some of those data caps,

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Speaker 1: you know, because often times that's that's what it comes

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Speaker 1: down to you, right, Like you show up somewhere, whether

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Speaker 1: you're traveling, whether you show up at a friend's house,

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Speaker 1: and you're like, hey, hit me up with the other

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Speaker 1: WiFi password you might, I'm gonna use your data, not

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Speaker 1: necessarily the data that I'm being charged, I'll here on

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Speaker 1: my phone, but of course, like as nice, you know,

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Speaker 1: an extra five bucks that on top of what we're

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Speaker 1: currently paying. If we were to switch over and get

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Speaker 1: both you know, both you and Emily, both Kate and

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Speaker 1: I all on the same plan. Uh, that's something definitely

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Speaker 1: something we're gonna keep in the back of our minds.

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Speaker 1: That's not bad, not bad at all. And they of

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Speaker 1: course do throttle past a certain level of data usage.

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Speaker 1: But that's what that's what all the phone carriers now.

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Speaker 1: I think it's like after thirty five gigs, you know

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Speaker 1: you're gonna get the slower speeds, that's right. Yeah, Google five.

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Speaker 1: They also, uh, they offer a plan that allows you

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Speaker 1: to use your phone anywhere around the world as well.

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Speaker 1: They've got some other some of these other benefits, these perks. Uh.

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Speaker 1: It just cost twice as much at forty dollars a month.

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Speaker 1: But the cool thing is is that you can switch

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Speaker 1: back and forth between plans whenever you want, which man,

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Speaker 1: that is an awesome degree of flexibility, um, you know.

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Speaker 1: And so for instance, if you have a maybe you've

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Speaker 1: got a vacation planned and say June, well, just I

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Speaker 1: gotta do switch over to the more expensive plan for

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Speaker 1: a month, and then you can just switch right back

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Speaker 1: in July. I think that's really cool. Um. And like

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Speaker 1: any decent cell phone company, they don't do any activation

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Speaker 1: fees or contracts uh. And it's incredibly easy to sign up.

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Speaker 1: So it's definitely something to keep in mind. Makes me

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Speaker 1: think remember like internet cafes, Joel, like back in the

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Speaker 1: like when you would travel abroad. I remember, specifically Kate

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Speaker 1: and I in Paris one time and we were I

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Speaker 1: can't remember what we're trying to figure out, but all

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Speaker 1: I do remember is having to go to this internet

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Speaker 1: cafe which felt like it had been built in like

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Speaker 1: the late nineties, it probably had to be honest. Uh,

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Speaker 1: And we dropped like a scene amount of money trying

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Speaker 1: to get on the internet and figure out, you know,

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Speaker 1: where we needed to be. But you know, by what

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Speaker 1: time those basically plans like this render internet cafe is obsolete,

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Speaker 1: that's right. Uh. And so in one way, I see

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Speaker 1: that as a very awesome thing that we don't have

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Speaker 1: that problem anymore. On the other hand, though, I'm also

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Speaker 1: thinking through it from the standpoint of like vacations, what

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Speaker 1: are you supposed to do on vacation, just like completely

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Speaker 1: unplug And so it might be a little bit difficult,

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Speaker 1: more difficult to relax if it's that easy for us

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Speaker 1: just oh, I'm just gonna switch over to an international plan.

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Speaker 1: You know, it's a little bit more difficult to get

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Speaker 1: away from it all. If you're still getting pained. You're

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Speaker 1: gonna have to maybe implement a little more self disciplined

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Speaker 1: if you're planning a little escape for yourself. Yeah. And

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Speaker 1: for a while, the best way to save money was

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Speaker 1: to get a SIM card from like the European carrier

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Speaker 1: if you were over there, pop it in and use

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Speaker 1: their service for a little short period of time. But

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Speaker 1: how much easier is it if you can stay on

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Speaker 1: the same carrier but then also not get charged extraordinate

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Speaker 1: fees Because for a long time, for a lot of people,

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Speaker 1: using their cell phone overseas was just prohibitively expensive, like

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Speaker 1: you had to switch to another carrier, a local carrier

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Speaker 1: in order to not get charged in armor to leg

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Speaker 1: so or you have to be like a fancy business person.

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Speaker 1: Yeah right, let me get my international photo. Yeah, but

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Speaker 1: these these Google five planes make it a whole lot

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Speaker 1: easier for international travelers and the price is right now,

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Speaker 1: all right, Matt, I wanted to ask you a quick

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Speaker 1: baseball of course is back. I know you don't really care.

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Speaker 1: My braves. Are they playing after the players Union in

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Speaker 1: a MLB? Yeah, that kind of all that figured they

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Speaker 1: got that, They got that figured out. Took some of

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Speaker 1: the steam out of baseball starting up again for me,

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Speaker 1: those negotiations. But um, yeah, my braves. They won the

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Speaker 1: World Series last year, of course, and I'm hopeful but

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Speaker 1: also realistic. I don't my bras to I don't know

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Speaker 1: though I don't happen. I don't keep up with them now.

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Speaker 1: They're not your brains, but they are the Atlanta brains

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Speaker 1: I live in Atlantis, all right, but I wanted to

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Speaker 1: ask you. I saw the other day our local Atlantage,

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Speaker 1: a little constitution, reported that the Braves are offering a

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Speaker 1: one and fifty one burger and lobster tail. Combo saw that.

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Speaker 1: I know you're probably not go into a game this year,

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Speaker 1: but if you do, is that something you'll get. It's

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Speaker 1: got the gold leaf flog war or something like that.

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Speaker 1: It's like coated. Basically, it just looks like a gold

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Speaker 1: piece of like a gold patty. I guess I don't know,

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Speaker 1: only the finest. Well, so what's the what's the concession

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Speaker 1: policy at the at the truest stadium there with the

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Speaker 1: race play? Because back in the day you can still

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Speaker 1: bring in you can bring your own thinking like a

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Speaker 1: clear bag. You can bring in your own concessions. Okay, see,

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Speaker 1: I like cook those hot dogs. I like that because

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Speaker 1: that's how we used to do it, you know, grilled

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Speaker 1: the hot dogs up, wrap them in foil, pack them

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Speaker 1: in the little backpack, take them there. Take advantage of

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Speaker 1: the stadium's concessions. Uh, let's use their ketchup and mustard.

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Speaker 1: And I don't normally do onions, but I see you've

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Speaker 1: got some fresh onions out here. I'm gonna sprinkle some

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Speaker 1: of thanks guys as well. Actually, so is that cheap?

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Speaker 1: So this is like a little hidden frugal or cheap.

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Speaker 1: Back in the day, I would call that very frugal.

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Speaker 1: But I think some folks might argue that, like no,

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Speaker 1: and it's it's like, uh, it's a part of the

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Speaker 1: experience to go to the ballpark. You actually, you know

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Speaker 1: there's a brand of hot dogs called ballpark Franks or whatever,

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Speaker 1: because that's such a an ingrained part of going to

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Speaker 1: see a game, right right, Yeah, No, And I think

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Speaker 1: it's okay too. It's kind of like it's kind of

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Speaker 1: like getting popcorn and going to see a movie. Like

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Speaker 1: if you budget for the movie and that's something you love,

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Speaker 1: that's great. But I think if you make it just

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Speaker 1: a knee jerk habit every time to buy whatever at

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Speaker 1: the ballpark, and especially if you're going for this like burger,

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Speaker 1: lobster tail, commum kneed drinking on the right, you maybe

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Speaker 1: just a little too fancy for us. So this this

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Speaker 1: is probably something I will avoid, like the plague. But

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Speaker 1: you know, like a hot dog every now and again

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Speaker 1: at the ballpark not a bad idea. I will say, fortunately,

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Speaker 1: our soccer team has reasonable prices. I'll started talking about

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Speaker 1: their winning streaks. Oh that's not lack there, no, but

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Speaker 1: at least they have a winning streak at the of

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Speaker 1: concession prices because you get a hot talk for like

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Speaker 1: a dollar fifty, you get a drink for like two

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Speaker 1: fifty or something. I mean the practice are going for

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Speaker 1: a buck. Yeah, there's there's there. There's a marked difference.

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Speaker 1: And that's one of the things that they you know,

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Speaker 1: that they show us to do very intentionally at the

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Speaker 1: Mercedes ben stadiums that like you know what, no matter

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Speaker 1: what concessions food, they're going to be incredibly affordable. But

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Speaker 1: it is unfortunate that other places are still charging you know,

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Speaker 1: twelve fourteen, fifteen bucks for a beer. I don't know

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Speaker 1: what it costs there at the at the Brace. I

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Speaker 1: still haven't even been to see a game up there

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Speaker 1: at that new stadium. So off to remedy that's sticking

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Speaker 1: up there one of these days, and maybe we'll put

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Speaker 1: this out there as kind of a question to the

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Speaker 1: Facebook group. I'm curious to hear what other people think,

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Speaker 1: like do you or maybe like when you go to

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Speaker 1: the movie theater or if you go to a ballgame.

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Speaker 1: Are you buying concessions or are you bringing your own

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Speaker 1: show up with your own candy, your own uh sour

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Speaker 1: straws or whatever candy you like to Would you like

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Speaker 1: to take to the movies? I mean, it's been a

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Speaker 1: long time, so I've been to a movie. I was

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Speaker 1: gonna go to The Batman, but then my kids got sick,

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Speaker 1: so I couldn't. I couldn't go, so I'm trying to

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Speaker 1: think of the last time I went. But probably I

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Speaker 1: don't like some Junior Mints or or some skittles or something.

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Speaker 1: I don't breeses pieces. Man. Yeah, those are good classic

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Speaker 1: take it back to et. But okay, let's keep moving.

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Speaker 1: We've got a bunch of additional stories we want to

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Speaker 1: get to, including that one about why some college degrees

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Speaker 1: might be for dummies. We got that one, plus that

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Speaker 1: really we additional credit card perk that is now being offered.

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Speaker 1: We'll get to those plus others right after this. All right,

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Speaker 1: we're back. The Friday flight continues, and of course we

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Speaker 1: always get to the ludicrous headline of the week at

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Speaker 1: this point in the show, Matt. This one comes from

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Speaker 1: the New York Post and it reads it's just the

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Speaker 1: best title. Bitcoin fans are psychopaths who don't care about anyone,

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Speaker 1: study shows, and um, yeah, this is good. I love

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Speaker 1: that people are studying this. But yeah, I feel like

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Speaker 1: maybe we need to slowly back away from this headline

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Speaker 1: because it's just so over the top. But scientists at

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Speaker 1: Queensland University of Technology apparently did this study of just

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Speaker 1: over investors, small sample size, much and uh, and then

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Speaker 1: they found that that many of these people showed traits

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Speaker 1: of narcissism, psychopathy, and sadism. And so I'm not really

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Speaker 1: sure how to take this study. Besides, with a grain

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Speaker 1: of salt, it turns out that if you're a traditional investor,

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Speaker 1: you only have to worry about gluttony, so you're gonna

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Speaker 1: be all right. Right. So yeah, maybe there's um a

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Speaker 1: little bit of overconfidence in some of the crypto community.

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Speaker 1: I think there's probably some truth to that, But I'm

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Speaker 1: not sure how just investing in an asset class like

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Speaker 1: crypto is indicative of, let's say, a larger personality disorder.

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Speaker 1: I'm not sure I get that correlation. It certainly seems

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Speaker 1: like it would be a stretch to to say that

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Speaker 1: anybody who owns any bitcoin is a psychopath. But I

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Speaker 1: will say, like bitcoin, it is clearly a like a

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Speaker 1: highly volatile asset, right. I mean, if you want sala,

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Speaker 1: you're definitely a psychopath. You do coin, maybe you love dogs,

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Speaker 1: but just generally speaking, if you in crypto like that

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Speaker 1: probably means that you are more comfortable with with risk, right.

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Speaker 1: And so it makes sense that the folks who would

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Speaker 1: invest in riskier ways that they might share some personality traits.

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Speaker 1: But that headline is just absurd in the study didn't

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Speaker 1: actually seem to to dig very deep where there are

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Speaker 1: just drawing lines between personality tendencies and investing behavior were

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Speaker 1: none might exist. And to be clear, the crypto space

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Speaker 1: it does show some evidence of like Coult like behavior,

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Speaker 1: just the way folks kind of jump on different bandwagons

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Speaker 1: are willing to throw tons of their money into a

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Speaker 1: coin that didn't even exist a week ago, but it

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Speaker 1: now exists because somebody got slapped on stage. Uh. And

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Speaker 1: so we advise folks to tread lightly into not completely

427
00:19:20,359 --> 00:19:23,080
Speaker 1: buy into the height. But you can hold some crypto

428
00:19:23,160 --> 00:19:25,639
Speaker 1: uh and not be a total nutter like you know,

429
00:19:25,640 --> 00:19:28,760
Speaker 1: we've talked about owning five percent of your portfolio within

430
00:19:28,840 --> 00:19:31,320
Speaker 1: something like Crypto, but beyond that, we want you to

431
00:19:31,480 --> 00:19:34,440
Speaker 1: be extremely careful, and we would say five percent at most,

432
00:19:34,560 --> 00:19:36,320
Speaker 1: right because I think for a lot of people, zero

433
00:19:36,320 --> 00:19:39,160
Speaker 1: exposure is just fine and we're cool with that too.

434
00:19:39,200 --> 00:19:41,800
Speaker 1: So uh and and you know, luckily, I mean luckily

435
00:19:41,840 --> 00:19:44,840
Speaker 1: Crypto isn't seeing some sort of resurgence right now, at

436
00:19:44,920 --> 00:19:48,080
Speaker 1: least not at this very minute, because that's how volatile

437
00:19:48,080 --> 00:19:49,920
Speaker 1: it is. But I feel like we have to talk

438
00:19:49,920 --> 00:19:52,480
Speaker 1: folks down from the ledge more often if it's like,

439
00:19:52,600 --> 00:19:54,840
Speaker 1: you know, if it's blasting to the moon right now,

440
00:19:54,880 --> 00:19:56,840
Speaker 1: it's just like, all right, folks aren't feeling the need

441
00:19:56,880 --> 00:19:59,719
Speaker 1: to jump in maybe when they shouldn't be. Yeah, all right,

442
00:19:59,800 --> 00:20:01,560
Speaker 1: So let's move on. Let's talk about college for a

443
00:20:01,560 --> 00:20:05,000
Speaker 1: second match and degrees, And it turns out college enrollment

444
00:20:05,080 --> 00:20:09,920
Speaker 1: is down more than five since COVID. Obviously has changed

445
00:20:09,960 --> 00:20:13,679
Speaker 1: the value proposition for for teenagers who are considering higher

446
00:20:13,760 --> 00:20:16,760
Speaker 1: education and taking a gap here. I think can makes

447
00:20:16,800 --> 00:20:20,480
Speaker 1: sense for lots of high school graduates anyway, but particularly

448
00:20:20,600 --> 00:20:23,240
Speaker 1: in the current environment, UM, it has made a lot

449
00:20:23,280 --> 00:20:26,200
Speaker 1: more sense to yeah, I'm going to college. I'm gonna

450
00:20:26,200 --> 00:20:27,639
Speaker 1: push that off a year or two. Um, And so

451
00:20:28,240 --> 00:20:30,439
Speaker 1: let's let's be honest. Though, all the headlines about student

452
00:20:30,440 --> 00:20:32,360
Speaker 1: loan debt, they seem to have had maybe a sobering

453
00:20:32,400 --> 00:20:34,920
Speaker 1: influence on young folks and their families. Maybe that's part

454
00:20:34,920 --> 00:20:37,400
Speaker 1: of it. To the one point six trillion dollar number

455
00:20:37,440 --> 00:20:40,399
Speaker 1: and seeing how hard maybe the generation that went before

456
00:20:40,440 --> 00:20:42,560
Speaker 1: them is having it when it comes to college debt.

457
00:20:42,640 --> 00:20:45,040
Speaker 1: Maybe that's having an influence. And so as the cost

458
00:20:45,040 --> 00:20:47,960
Speaker 1: of college has continued to rise, I think we would

459
00:20:47,960 --> 00:20:50,280
Speaker 1: say it makes even more sense to think twice about

460
00:20:50,359 --> 00:20:53,119
Speaker 1: whether or not pursuing that degree makes sense in the

461
00:20:53,160 --> 00:20:55,760
Speaker 1: first place. Yep, totally. Man. We We've talked about this before,

462
00:20:55,800 --> 00:20:57,880
Speaker 1: but The Times had an article this week discussing how

463
00:20:57,880 --> 00:21:01,000
Speaker 1: degrees matter less than the used to, and then the

464
00:21:01,080 --> 00:21:03,200
Speaker 1: Journal Wall Street Journal, not to be all done, they've

465
00:21:03,440 --> 00:21:05,200
Speaker 1: they followed it up with one of their own about

466
00:21:05,440 --> 00:21:08,399
Speaker 1: blue collar workers nabbing jobs in the tech space without

467
00:21:09,080 --> 00:21:11,600
Speaker 1: getting a college education. There are a lot of employees

468
00:21:11,600 --> 00:21:14,639
Speaker 1: out there who never saw themselves in the tech sector

469
00:21:14,720 --> 00:21:16,920
Speaker 1: and now they're sitting there at that computer, uh, you know,

470
00:21:16,960 --> 00:21:19,720
Speaker 1: working behind a desk. But you know, given the tight

471
00:21:19,800 --> 00:21:23,400
Speaker 1: labor market, employers are using that four year degree as

472
00:21:23,400 --> 00:21:27,360
Speaker 1: a screening tool far less often back in of job

473
00:21:27,400 --> 00:21:31,239
Speaker 1: listings required a degree, but then last year only had

474
00:21:31,240 --> 00:21:34,080
Speaker 1: that same requirement. So maybe some of those high school

475
00:21:34,119 --> 00:21:36,920
Speaker 1: graduates will skip college all together and still be able

476
00:21:36,920 --> 00:21:39,080
Speaker 1: to find some career success and to find some fulfillment

477
00:21:39,119 --> 00:21:41,120
Speaker 1: within the work that they're doing while making a good

478
00:21:41,160 --> 00:21:44,920
Speaker 1: paycheck without having to actually gone through four years of schooling. Yeah,

479
00:21:44,960 --> 00:21:47,840
Speaker 1: and without being saddled with debt right as they're entering

480
00:21:47,880 --> 00:21:49,919
Speaker 1: into the workforce. And and I think a lot of

481
00:21:49,920 --> 00:21:52,359
Speaker 1: people will, Matt, I think this is going to become

482
00:21:52,400 --> 00:21:54,439
Speaker 1: more of a thing. Um. And it's not that we

483
00:21:54,480 --> 00:21:56,680
Speaker 1: hate college, by the way, Matt and I we both

484
00:21:56,680 --> 00:21:58,879
Speaker 1: have four year degrees and and they have been helpful

485
00:21:58,920 --> 00:22:01,440
Speaker 1: to us over the years. And then the average lifetime

486
00:22:01,480 --> 00:22:04,399
Speaker 1: income for someone who graduates with a bachelor's degree is

487
00:22:04,440 --> 00:22:06,760
Speaker 1: still much higher than someone who only gets a high

488
00:22:06,760 --> 00:22:09,439
Speaker 1: school diploma. But you know, what we take issue with

489
00:22:09,640 --> 00:22:12,280
Speaker 1: is the fact that our society has made college the

490
00:22:12,359 --> 00:22:15,480
Speaker 1: end all, be all solution for basically everyone and saying

491
00:22:15,520 --> 00:22:17,720
Speaker 1: it's one's eye fits all. But the key to making

492
00:22:17,720 --> 00:22:20,720
Speaker 1: college a worthwhile endeavor is choosing a major that can

493
00:22:20,760 --> 00:22:23,800
Speaker 1: translate to increased earnings and then keeping your borrowing to

494
00:22:23,840 --> 00:22:26,080
Speaker 1: a minimum at the same time, And so that's why

495
00:22:26,119 --> 00:22:28,080
Speaker 1: I'm Matt. I was actually excited to see there was

496
00:22:28,119 --> 00:22:31,399
Speaker 1: another headline in CNBC and it said that free college

497
00:22:31,400 --> 00:22:34,280
Speaker 1: is available now in thirty states and it didn't even

498
00:22:34,320 --> 00:22:37,040
Speaker 1: take federal legislation to make this happen. So if we

499
00:22:37,119 --> 00:22:39,199
Speaker 1: want more people to go to college, we have to

500
00:22:39,240 --> 00:22:43,600
Speaker 1: make it more financially accessible. And I think with lower enrollment,

501
00:22:43,880 --> 00:22:47,120
Speaker 1: more states entering into this equation to help create two

502
00:22:47,240 --> 00:22:51,080
Speaker 1: year or four year degrees at public education institutions that

503
00:22:51,359 --> 00:22:53,320
Speaker 1: don't cost any money. I think that's gonna help a

504
00:22:53,400 --> 00:22:55,639
Speaker 1: lot of people get a college education that might have

505
00:22:55,720 --> 00:22:59,200
Speaker 1: otherwise decided not to. And I think at the same time,

506
00:22:59,200 --> 00:23:00,840
Speaker 1: it's going to get easier in the coming years to

507
00:23:00,840 --> 00:23:03,840
Speaker 1: make a solid income even if you opt out of

508
00:23:03,960 --> 00:23:06,679
Speaker 1: the college path altogether. Yeah, I mean, I think I

509
00:23:06,720 --> 00:23:08,920
Speaker 1: like that path a little bit more. Right, it's not

510
00:23:08,960 --> 00:23:11,840
Speaker 1: necessarily this makes something more easily accessible to those who

511
00:23:11,840 --> 00:23:14,679
Speaker 1: don't even necessarily want to go, regardless of if college

512
00:23:14,720 --> 00:23:16,560
Speaker 1: is free or not. I think it's worth like really

513
00:23:16,600 --> 00:23:18,600
Speaker 1: thinking through whether this is something that you should be doing,

514
00:23:18,640 --> 00:23:19,880
Speaker 1: because I think there are a lot of folks out

515
00:23:19,880 --> 00:23:22,560
Speaker 1: there who who are not necessarily cut out for college,

516
00:23:22,800 --> 00:23:25,119
Speaker 1: and to this Walmart, they just sounded the alarm that

517
00:23:25,160 --> 00:23:28,359
Speaker 1: it needs more truck drivers. They've up their starting salaries

518
00:23:28,400 --> 00:23:30,480
Speaker 1: to almost six figures. I think you can earn between

519
00:23:30,520 --> 00:23:33,400
Speaker 1: like ninety d ten thousand dollars a year to drive

520
00:23:33,440 --> 00:23:35,919
Speaker 1: a truck. I realized not everyone wants to become a

521
00:23:35,920 --> 00:23:38,160
Speaker 1: truck driver, but if you can, you know, double your

522
00:23:38,160 --> 00:23:41,520
Speaker 1: salary overnight, you might even consider doing this if you're like,

523
00:23:41,560 --> 00:23:43,040
Speaker 1: you know what, I kind of don't mind being out

524
00:23:43,080 --> 00:23:44,840
Speaker 1: on the open road. I don't mind driving a truck.

525
00:23:44,840 --> 00:23:46,879
Speaker 1: I'm kind of a solitary guy. I just want to

526
00:23:46,920 --> 00:23:48,800
Speaker 1: sit there and listen to Matt and Joel talk about

527
00:23:48,840 --> 00:23:51,840
Speaker 1: what to do with my what your personal finance, Listen

528
00:23:51,880 --> 00:23:53,000
Speaker 1: to a lot of how the money if you become

529
00:23:53,000 --> 00:23:55,399
Speaker 1: a truck to put us on that like point five speed, Like,

530
00:23:55,720 --> 00:23:58,119
Speaker 1: that's a lot of how the money hours, right. But

531
00:23:58,240 --> 00:24:00,600
Speaker 1: I guess what I'm pointing out there is that I

532
00:24:00,600 --> 00:24:03,000
Speaker 1: think it's a good thing that college is becoming more affordable.

533
00:24:03,000 --> 00:24:05,119
Speaker 1: I want, I do want there to be more affordable options.

534
00:24:05,160 --> 00:24:07,119
Speaker 1: I do want there to be more scholarships available. I

535
00:24:07,119 --> 00:24:08,880
Speaker 1: do want community college to be more of a thing

536
00:24:08,920 --> 00:24:11,640
Speaker 1: that's not looked down upon, especially for those first couple

537
00:24:11,640 --> 00:24:13,520
Speaker 1: of years. But I still think it's smart for for

538
00:24:13,520 --> 00:24:15,399
Speaker 1: folks to not make that knee jerk reaction that just

539
00:24:15,440 --> 00:24:17,800
Speaker 1: because something is free, that we flocked to it, right,

540
00:24:17,800 --> 00:24:19,879
Speaker 1: because we have that mentality when when something is labeled

541
00:24:19,880 --> 00:24:22,280
Speaker 1: as free, we find it way more attractive even than

542
00:24:22,320 --> 00:24:24,760
Speaker 1: if it just costs a very small amount of money.

543
00:24:24,800 --> 00:24:26,199
Speaker 1: And so I just think the same thing can can

544
00:24:26,240 --> 00:24:28,639
Speaker 1: apply here, and it's worth thinking through how it is

545
00:24:28,640 --> 00:24:29,600
Speaker 1: that you want to live your life, how you want

546
00:24:29,600 --> 00:24:31,119
Speaker 1: to spend your time. Yeah, I think it's worth looking

547
00:24:31,160 --> 00:24:33,840
Speaker 1: to a country like Germany too, when you when you

548
00:24:33,880 --> 00:24:37,920
Speaker 1: see how many apprenticeship programs they have for people who

549
00:24:38,280 --> 00:24:39,800
Speaker 1: don't want to go to college but they want to

550
00:24:39,880 --> 00:24:42,360
Speaker 1: become a skilled tradesperson, and that is so much more

551
00:24:42,359 --> 00:24:43,880
Speaker 1: common there than it is here, and I think, yeah,

552
00:24:43,920 --> 00:24:46,320
Speaker 1: we could stand to learn something from them as well.

553
00:24:46,560 --> 00:24:48,560
Speaker 1: All Right, Matt, let's get to that that credit card

554
00:24:48,720 --> 00:24:51,639
Speaker 1: perk that that we wanted to mention. This one's outside

555
00:24:51,680 --> 00:24:53,920
Speaker 1: the box, so you can forget about cash back or

556
00:24:53,960 --> 00:24:56,680
Speaker 1: travel rewards. Those are usually right the top two things

557
00:24:56,720 --> 00:24:58,680
Speaker 1: that you're gonna get from a new credit card that

558
00:24:58,720 --> 00:25:02,199
Speaker 1: you're looking at, um, But the new park of this

559
00:25:02,200 --> 00:25:04,040
Speaker 1: credit card that we want to mention is access to

560
00:25:04,200 --> 00:25:08,679
Speaker 1: free investing advice. And so American Express and Vanguard have

561
00:25:08,800 --> 00:25:12,360
Speaker 1: teamed up to allow cardholders access to a Vanguard advisor

562
00:25:12,400 --> 00:25:14,880
Speaker 1: for some one on one investing help. You don't even

563
00:25:14,920 --> 00:25:16,720
Speaker 1: have to have one of the fancy cards with the

564
00:25:16,800 --> 00:25:21,080
Speaker 1: ridiculous annual card, right, Yeah, you don't have to pick

565
00:25:21,119 --> 00:25:23,040
Speaker 1: that one. You can like one of the basic cars. Sure,

566
00:25:23,080 --> 00:25:24,639
Speaker 1: that's what we're thinking. They're like, oh yeah, sure, I've

567
00:25:24,640 --> 00:25:26,440
Speaker 1: got to drop a lot of money in order to

568
00:25:26,440 --> 00:25:28,119
Speaker 1: to receive those high end parks. It's kind of like

569
00:25:28,119 --> 00:25:31,000
Speaker 1: the fancy lounges at the airport's right, It's like, Okay,

570
00:25:31,040 --> 00:25:32,880
Speaker 1: someone's gonna talk to me about my money, someone's gonna

571
00:25:32,880 --> 00:25:35,320
Speaker 1: shine my shoes, and while I get to sit on

572
00:25:35,320 --> 00:25:39,280
Speaker 1: this free cocktail the Delta sky lounge or whatever. Right. Unfortunately, no,

573
00:25:39,520 --> 00:25:41,720
Speaker 1: with with this offer, you can get just a basic

574
00:25:41,760 --> 00:25:43,600
Speaker 1: card that doesn't have an annual fee and you can

575
00:25:43,640 --> 00:25:45,960
Speaker 1: still have access to this park. You'll need to have

576
00:25:46,000 --> 00:25:48,200
Speaker 1: at least ten thousand dollars in investments in order to

577
00:25:48,280 --> 00:25:51,040
Speaker 1: qualify with Vanguard Here's the thing, though, If you have

578
00:25:51,119 --> 00:25:53,919
Speaker 1: a hundred thousand dollars stocked away with Vanguard, you'll have

579
00:25:54,040 --> 00:25:57,600
Speaker 1: ongoing access to a Vanguard advisor for free. And so

580
00:25:57,960 --> 00:26:00,359
Speaker 1: I think this is a cool partnership because it allows

581
00:26:00,400 --> 00:26:02,439
Speaker 1: a lot of folks to talk to someone about their

582
00:26:02,480 --> 00:26:05,960
Speaker 1: investments for for no money. And if you feel uncomfortable

583
00:26:06,000 --> 00:26:08,320
Speaker 1: making your own decisions when it comes to picking funds,

584
00:26:08,600 --> 00:26:11,320
Speaker 1: but you've been unwilling to pay an advisor big bucks,

585
00:26:11,320 --> 00:26:13,960
Speaker 1: this could be just right for you. We don't necessarily

586
00:26:13,960 --> 00:26:16,679
Speaker 1: think that hiring a financial advisor is right for everyone,

587
00:26:16,920 --> 00:26:19,720
Speaker 1: or even for most folks, but yeah, if you qualify

588
00:26:19,880 --> 00:26:23,280
Speaker 1: under the terms of this am X Vanguard agreement, then

589
00:26:23,400 --> 00:26:25,480
Speaker 1: this could be just the perfect way to get some

590
00:26:25,560 --> 00:26:27,960
Speaker 1: of that handholding that you want without having the fork

591
00:26:28,000 --> 00:26:31,560
Speaker 1: out hundreds or even thousands of dollars of your own money. Yeah,

592
00:26:31,600 --> 00:26:34,040
Speaker 1: and if you have a savings account with American Express,

593
00:26:34,080 --> 00:26:37,520
Speaker 1: you can earn additional cash bonuses based on the amount

594
00:26:37,560 --> 00:26:40,920
Speaker 1: that you've accrued inside your investment account. Uh. And so

595
00:26:40,960 --> 00:26:43,520
Speaker 1: that's another sweet sweet perk that they're offering. If you

596
00:26:43,520 --> 00:26:45,639
Speaker 1: don't have an AMEX card and you want to participate,

597
00:26:45,960 --> 00:26:47,920
Speaker 1: you can just consider something as simple as the Blue

598
00:26:47,920 --> 00:26:49,879
Speaker 1: Cash Preferred Card. We've talked about this here on the

599
00:26:49,920 --> 00:26:51,960
Speaker 1: show before, but that's the one. Uh. Like, it does

600
00:26:51,960 --> 00:26:53,840
Speaker 1: have an annual fee of nine bucks, but it tends

601
00:26:53,840 --> 00:26:56,000
Speaker 1: to pay for itself for really quickly if you use

602
00:26:56,040 --> 00:26:58,600
Speaker 1: it to pay for groceries because of that six percent

603
00:26:58,800 --> 00:27:01,720
Speaker 1: reward that you receive at grocery stores. And just like

604
00:27:01,760 --> 00:27:05,560
Speaker 1: the FED has told us food at home KA groceries,

605
00:27:05,840 --> 00:27:07,600
Speaker 1: you know, we're seeing how that's up ten percent, and

606
00:27:07,640 --> 00:27:09,159
Speaker 1: so I don't think it will take very long for

607
00:27:09,200 --> 00:27:12,160
Speaker 1: you to quickly earn back that ninety five bucks, uh

608
00:27:12,200 --> 00:27:14,400
Speaker 1: and then some. But it's just refreshing. This is great,

609
00:27:14,440 --> 00:27:16,000
Speaker 1: I think, man, it's it's it's great to see a

610
00:27:16,000 --> 00:27:19,159
Speaker 1: credit card company offering new, outside of the box benefits.

611
00:27:19,359 --> 00:27:20,760
Speaker 1: At the same time, I don't want folks who think

612
00:27:20,760 --> 00:27:23,440
Speaker 1: that we're Vanguard fanboys. Just today, I got an email

613
00:27:23,480 --> 00:27:26,919
Speaker 1: from Fidelity and they were basically promoting this free course.

614
00:27:27,000 --> 00:27:30,760
Speaker 1: Anybody who's invested investor with Fidelity. Uh, they're having an

615
00:27:30,800 --> 00:27:32,600
Speaker 1: online course coming up so where you can sign up.

616
00:27:32,600 --> 00:27:36,399
Speaker 1: You can learn about some more kind of complicated ways

617
00:27:36,400 --> 00:27:40,119
Speaker 1: to invest, which may not be necessary. But they're like

618
00:27:40,160 --> 00:27:42,640
Speaker 1: talking about options. But either way, what they're doing, they're

619
00:27:42,640 --> 00:27:44,800
Speaker 1: they're you know, these different brokerages are trying to find

620
00:27:44,840 --> 00:27:48,679
Speaker 1: ways to get business, they're trying to find ways to educate,

621
00:27:48,720 --> 00:27:51,679
Speaker 1: they're trying to find ways to help their clients. Generally speaking,

622
00:27:52,080 --> 00:27:54,800
Speaker 1: we like the move towards helping you with your money.

623
00:27:54,840 --> 00:27:57,680
Speaker 1: That's what we do here. Although neither Vanguard or Fidelity,

624
00:27:57,760 --> 00:28:00,159
Speaker 1: neither of them have a beer a tasty craft year

625
00:28:00,200 --> 00:28:02,720
Speaker 1: in hand as they're they're doing this help it's because

626
00:28:02,720 --> 00:28:06,200
Speaker 1: compliance would let him. They're not allowed to the sec

627
00:28:06,280 --> 00:28:09,200
Speaker 1: SID but we are allowed to do that. So you

628
00:28:09,240 --> 00:28:12,000
Speaker 1: can continue to listen to How the Money three times

629
00:28:12,000 --> 00:28:14,760
Speaker 1: a week. We hope everybody has a great weekend, and

630
00:28:14,960 --> 00:28:17,000
Speaker 1: we've got a great ask How the Money episode lined

631
00:28:17,080 --> 00:28:19,000
Speaker 1: up for you this coming Monday, so you can look

632
00:28:19,000 --> 00:28:20,800
Speaker 1: forward to that one. That's right. So that's gonna do

633
00:28:20,800 --> 00:28:23,440
Speaker 1: it for this episode, So Matt, until next time. Best

634
00:28:23,440 --> 00:28:25,200
Speaker 1: Friends Out, Best Friends Out,