1 00:00:00,080 --> 00:00:02,920 Speaker 1: Welcome to How the Money. I'm Joel and I'm Matt, 2 00:00:03,160 --> 00:00:25,479 Speaker 1: and today we are answering your listener questions. Yeah, Joel, 3 00:00:25,520 --> 00:00:28,320 Speaker 1: we have a bunch of great questions to answer on 4 00:00:28,360 --> 00:00:31,160 Speaker 1: this episode. We're gonna disgust negotiating a salary at a 5 00:00:31,320 --> 00:00:34,159 Speaker 1: tree level position. Oh, we're gonna talk about some clean titles. 6 00:00:34,200 --> 00:00:36,520 Speaker 1: We've never talked about that before. That'll be fun, as 7 00:00:36,560 --> 00:00:40,440 Speaker 1: well as saving money on a variable income. So if 8 00:00:40,440 --> 00:00:42,480 Speaker 1: you don't have a steady job, how do you save money? 9 00:00:42,800 --> 00:00:45,160 Speaker 1: Those are all good questions, and we've got some answers coming, 10 00:00:45,479 --> 00:00:47,839 Speaker 1: plus a couple more, a couple more. Yeah, and and 11 00:00:48,000 --> 00:00:51,120 Speaker 1: clean title versus salvage title. That's an interesting one. You 12 00:00:51,159 --> 00:00:54,360 Speaker 1: can potentially save big money getting a car with a 13 00:00:54,400 --> 00:00:56,560 Speaker 1: salvage title, but is it worth it. We're gonna get 14 00:00:56,560 --> 00:00:59,160 Speaker 1: to that in just a minute. But before we get 15 00:00:59,160 --> 00:01:03,160 Speaker 1: to that, Matt talking buying something that has maybe inferior credibility. 16 00:01:03,200 --> 00:01:05,200 Speaker 1: What do you think about buying like a refurbished phone. 17 00:01:05,200 --> 00:01:06,640 Speaker 1: How do you feel about that? Oh, dude, I'm all 18 00:01:06,680 --> 00:01:10,039 Speaker 1: about the refreshed phones. That's what Apple calls it. They 19 00:01:10,080 --> 00:01:12,479 Speaker 1: don't call it REFURBI they changed the name, of course, 20 00:01:12,520 --> 00:01:15,960 Speaker 1: they did refreshed iPhone. That's so Apple. They've better. They've 21 00:01:15,959 --> 00:01:17,720 Speaker 1: been to the SPA, they had a facial. You know, 22 00:01:17,840 --> 00:01:20,280 Speaker 1: they're refreshed. They've got better branding than everyone else, of 23 00:01:20,280 --> 00:01:22,600 Speaker 1: course they did. But so I just recently bought a 24 00:01:22,600 --> 00:01:26,840 Speaker 1: new phone, a new, very used, refurbished phone. It's a 25 00:01:26,959 --> 00:01:30,639 Speaker 1: Motto G six and it's a It's solid, man, it's solid, 26 00:01:31,000 --> 00:01:33,680 Speaker 1: but I'd like it so far. It's nothing fancy, But 27 00:01:33,720 --> 00:01:36,559 Speaker 1: I got a refurbished off the bay for a hundred bucks, 28 00:01:36,959 --> 00:01:38,800 Speaker 1: and it came with a one year warranty, which I 29 00:01:38,800 --> 00:01:40,720 Speaker 1: gotta say, if you're buying refurbished, to make sure it 30 00:01:40,720 --> 00:01:42,840 Speaker 1: comes with some sort of warranty. I think I can 31 00:01:42,880 --> 00:01:44,480 Speaker 1: give you a little bit of peace of mind. But 32 00:01:44,560 --> 00:01:46,319 Speaker 1: I was able to sell my old phone, which was 33 00:01:46,520 --> 00:01:49,520 Speaker 1: kind of similar age honestly to this one, for fifty 34 00:01:49,520 --> 00:01:52,400 Speaker 1: bucks and so really fifty fifty bucks more for a 35 00:01:52,400 --> 00:01:54,760 Speaker 1: new phone, and honestly, it's been worth it just for 36 00:01:54,840 --> 00:01:57,000 Speaker 1: the better battery life. Once you've had a phone for 37 00:01:57,040 --> 00:01:59,440 Speaker 1: a little while, your battery life can kind of start 38 00:01:59,440 --> 00:02:02,640 Speaker 1: to degrade. They hard to make the phone almost feel unusable. 39 00:02:02,880 --> 00:02:04,880 Speaker 1: And so yeah, that's kind of where I was at 40 00:02:04,960 --> 00:02:06,920 Speaker 1: the position I was in, but I put a proper 41 00:02:06,960 --> 00:02:09,200 Speaker 1: listing up on Facebook Yard sale. The guy came to 42 00:02:09,280 --> 00:02:10,960 Speaker 1: check it out and fiddle around with it and was like, 43 00:02:10,960 --> 00:02:13,640 Speaker 1: cool this one I'm looking for. So yeah, I feel 44 00:02:13,639 --> 00:02:16,560 Speaker 1: like I got a much better phone for only fifty bucks. 45 00:02:16,600 --> 00:02:18,440 Speaker 1: Not too bad. Nice dude, You know, I will say 46 00:02:18,440 --> 00:02:20,519 Speaker 1: I like the all black look looks like a little 47 00:02:20,639 --> 00:02:23,440 Speaker 1: ninja sitting over there on the table. You know. I 48 00:02:23,440 --> 00:02:25,320 Speaker 1: read that it takes only about a year and a 49 00:02:25,360 --> 00:02:28,519 Speaker 1: half or two years before your phone has gone through 50 00:02:28,680 --> 00:02:32,480 Speaker 1: enough recharge cycles that it only retains about of its 51 00:02:32,520 --> 00:02:35,120 Speaker 1: original charge. So those are the days when it's like 52 00:02:35,200 --> 00:02:37,239 Speaker 1: three thirty or four o'clock in the afternoon, you to 53 00:02:37,240 --> 00:02:39,560 Speaker 1: look at your phone and you're like, you're like, dang it, 54 00:02:39,600 --> 00:02:42,240 Speaker 1: where it all my battery life? Go? Uh, that's what happens. 55 00:02:42,520 --> 00:02:44,240 Speaker 1: So do you want to hear some tips of ways 56 00:02:44,280 --> 00:02:46,919 Speaker 1: that you can keep your cell phone battery? Moto G 57 00:02:47,120 --> 00:02:50,440 Speaker 1: six or Apple iPhone? Let me guess one, okay, go 58 00:02:50,520 --> 00:02:53,640 Speaker 1: for okay, so don't ever charge it? Actually, yeah, so 59 00:02:53,680 --> 00:02:55,639 Speaker 1: that's one of them. They say that, you know, the 60 00:02:55,680 --> 00:02:58,919 Speaker 1: old school rechargeable batteries, They had this thing called battery 61 00:02:58,960 --> 00:03:01,440 Speaker 1: memory where if you don't charge it all the way 62 00:03:01,760 --> 00:03:03,760 Speaker 1: it's like your battery would forget how to charge all 63 00:03:03,760 --> 00:03:05,320 Speaker 1: the way up, so you you would always want to 64 00:03:05,360 --> 00:03:07,040 Speaker 1: charge it all the way up. Stupid batteries. But that's 65 00:03:07,080 --> 00:03:09,760 Speaker 1: not the case anymore. Batteries don't have that, and in fact, 66 00:03:09,880 --> 00:03:11,760 Speaker 1: they're the happiest when they're kind of like in the middle. 67 00:03:11,840 --> 00:03:14,080 Speaker 1: So you don't want your battery to die, like go 68 00:03:14,120 --> 00:03:15,919 Speaker 1: all the way down to zero. So basically when I 69 00:03:15,960 --> 00:03:17,920 Speaker 1: sit up my phone to do the time laps and 70 00:03:17,960 --> 00:03:20,720 Speaker 1: it and it always dies. That's probably terrible from my battery. 71 00:03:21,680 --> 00:03:24,040 Speaker 1: The little videos that posts on Instagram. You don't want 72 00:03:24,040 --> 00:03:25,799 Speaker 1: that to happen. But ideally you also don't want it 73 00:03:25,840 --> 00:03:27,519 Speaker 1: to go all the way up to You kind of 74 00:03:27,520 --> 00:03:28,720 Speaker 1: want it to be right there in the middle. So 75 00:03:28,800 --> 00:03:30,320 Speaker 1: it's the same thing. That's a good one. Yeah, it's 76 00:03:30,320 --> 00:03:32,080 Speaker 1: the same thing with like an electric car. Really like 77 00:03:32,120 --> 00:03:34,760 Speaker 1: you you wouldn't when you plug it in, you don't 78 00:03:34,760 --> 00:03:37,840 Speaker 1: want it to go past like that kind of stresses 79 00:03:37,880 --> 00:03:41,040 Speaker 1: the battery to kind of stretch that entire limit, right yeah. Yeah, 80 00:03:41,080 --> 00:03:43,720 Speaker 1: And and really that last it takes a lot more 81 00:03:43,840 --> 00:03:46,520 Speaker 1: time to get that last ten percent and charge so yeah, 82 00:03:46,560 --> 00:03:47,720 Speaker 1: that was one guest. But I don't know what are 83 00:03:47,760 --> 00:03:50,600 Speaker 1: your other tips for maintaining a good battery life on 84 00:03:50,640 --> 00:03:52,800 Speaker 1: your phone. Well, there's these other chargers out there that 85 00:03:52,840 --> 00:03:54,840 Speaker 1: are like these high performance chargers and they charge your 86 00:03:54,840 --> 00:03:57,960 Speaker 1: phone really fast. They're higher wattage chargers then like I 87 00:03:57,960 --> 00:04:00,560 Speaker 1: think a standard iPhone chargers like five lots, but you 88 00:04:00,560 --> 00:04:03,880 Speaker 1: can get ones that are much stronger, like I don't know, Maybets, 89 00:04:04,240 --> 00:04:06,000 Speaker 1: and it will charge your phone faster, but that is 90 00:04:06,080 --> 00:04:08,200 Speaker 1: terrible for your battery from what I understand, it charges 91 00:04:08,200 --> 00:04:10,040 Speaker 1: it really quickly, puts a lot of stress on the battery, 92 00:04:10,040 --> 00:04:12,480 Speaker 1: though it gets a lot hotter. Uh, And that's another 93 00:04:12,560 --> 00:04:16,080 Speaker 1: thing that you want to avoid doing is letting your battery, 94 00:04:16,200 --> 00:04:19,160 Speaker 1: letting your phone get really hot. That can permanently damage 95 00:04:19,200 --> 00:04:21,720 Speaker 1: the battery. And sometimes I've seen this with my phone before, 96 00:04:21,720 --> 00:04:23,280 Speaker 1: but when it gets too hot, it will actually shut 97 00:04:23,279 --> 00:04:25,840 Speaker 1: down like it's got like this temperature gage and it's 98 00:04:25,880 --> 00:04:28,880 Speaker 1: like no, no, no, phone is off. But if it's 99 00:04:28,920 --> 00:04:31,120 Speaker 1: been sitting out in the sun, or in that case, 100 00:04:31,160 --> 00:04:34,320 Speaker 1: it was sitting and I glove compartment in a boat, 101 00:04:34,560 --> 00:04:37,400 Speaker 1: I don't do that often. Once afy three years on 102 00:04:37,440 --> 00:04:41,039 Speaker 1: your yacht. Yeah, my on my yachts. But that's actually 103 00:04:41,040 --> 00:04:42,600 Speaker 1: the only time I've ever seen that. So you don't 104 00:04:42,640 --> 00:04:44,320 Speaker 1: want your phone to get really hot, and you also 105 00:04:44,360 --> 00:04:46,159 Speaker 1: don't want to charge it really fast with those speech 106 00:04:46,200 --> 00:04:49,200 Speaker 1: chargers because that will crush your battery. Yeah, one thing 107 00:04:49,240 --> 00:04:51,320 Speaker 1: I wanted to mention if you are selling your old phone, 108 00:04:51,520 --> 00:04:55,000 Speaker 1: don't forget to hit the factory reset, because you don't 109 00:04:55,040 --> 00:04:58,279 Speaker 1: want the person who's buying your phone to have access 110 00:04:58,320 --> 00:05:00,479 Speaker 1: to all the stuff that you have. A word on 111 00:05:00,520 --> 00:05:03,479 Speaker 1: the phone, And I know that that's something that most 112 00:05:03,480 --> 00:05:05,400 Speaker 1: people would think about, but I'm sure there are people 113 00:05:05,400 --> 00:05:07,880 Speaker 1: out there that haven't thought. Seriously, dude, it's probably looking 114 00:05:07,880 --> 00:05:09,400 Speaker 1: through your phone. He was like, why does this guy 115 00:05:09,480 --> 00:05:12,200 Speaker 1: take so many pictures of his armpit? Is that? Is 116 00:05:12,200 --> 00:05:16,400 Speaker 1: that a rash? You know, you gotta document everything. I mean, 117 00:05:16,480 --> 00:05:18,200 Speaker 1: you use your phone to like see stuff that you 118 00:05:18,200 --> 00:05:20,640 Speaker 1: can't normally see, right, whether it be like around the house. 119 00:05:20,720 --> 00:05:22,760 Speaker 1: I use it to like peer down into like the 120 00:05:22,800 --> 00:05:25,000 Speaker 1: air vant be like, dang it is that kid toy 121 00:05:25,040 --> 00:05:27,480 Speaker 1: down there? No, you take pictures and stuff like that. Yeah, 122 00:05:27,520 --> 00:05:29,360 Speaker 1: I'll take video, like if you flip at the video 123 00:05:29,400 --> 00:05:31,080 Speaker 1: mode and turn the light on you can you basically 124 00:05:31,120 --> 00:05:32,760 Speaker 1: get kind of like use it as a periscope. You know, 125 00:05:32,800 --> 00:05:35,280 Speaker 1: you can kind of like peer around corners, like in construction, 126 00:05:35,279 --> 00:05:36,600 Speaker 1: Like if I'm trying to see inside of a wall 127 00:05:36,600 --> 00:05:38,479 Speaker 1: and there's this tiny little hole, you put your phone 128 00:05:38,560 --> 00:05:40,360 Speaker 1: up to it, do video mode and turn the light on. 129 00:05:40,400 --> 00:05:42,800 Speaker 1: It's amazing. I don't think I've ever done that, Seriously, dude, 130 00:05:42,839 --> 00:05:45,000 Speaker 1: I do it all the time. I did it last week. 131 00:05:45,040 --> 00:05:47,200 Speaker 1: I was one of my tenants. She thought she heard 132 00:05:47,240 --> 00:05:48,840 Speaker 1: something in the chimney. She was just like, I'm pretty 133 00:05:48,839 --> 00:05:50,360 Speaker 1: sure there's like a squirrel nest or a bird nest 134 00:05:50,400 --> 00:05:52,440 Speaker 1: in there. So I hopped up on the roof and 135 00:05:52,480 --> 00:05:54,160 Speaker 1: I was pretty sure that wasn't the case because it 136 00:05:54,200 --> 00:05:56,440 Speaker 1: wasn't the opening. The cover wasn't big enough for an 137 00:05:56,440 --> 00:05:59,360 Speaker 1: animal to get through. But to double check, I flipped 138 00:05:59,360 --> 00:06:01,360 Speaker 1: it to video mode on my phone, hit the flash 139 00:06:01,360 --> 00:06:03,080 Speaker 1: to turn the video light on, and then you I 140 00:06:03,080 --> 00:06:04,520 Speaker 1: could just stick it in there and I can see 141 00:06:04,560 --> 00:06:06,960 Speaker 1: clear down the clue down the chimney and I can 142 00:06:07,000 --> 00:06:08,800 Speaker 1: see it live on the screen. But then you pull 143 00:06:08,839 --> 00:06:10,080 Speaker 1: it out and then you hit stop and then you 144 00:06:10,120 --> 00:06:13,320 Speaker 1: replay it. Boom. Would you find nothing? Okay? Yeah, I 145 00:06:13,600 --> 00:06:17,200 Speaker 1: guess you're just making it up. I mean, maybe something failed, 146 00:06:17,200 --> 00:06:18,960 Speaker 1: but like a random stick must have kind of fallen down. 147 00:06:19,000 --> 00:06:21,480 Speaker 1: It wasn't wasn't a rodent. Alright, So good news for 148 00:06:21,520 --> 00:06:23,320 Speaker 1: my tenant and good news from me, and good news 149 00:06:23,400 --> 00:06:24,600 Speaker 1: for you now that you know how to use your 150 00:06:24,600 --> 00:06:26,400 Speaker 1: phone as a periscope. Now I have a phone that 151 00:06:26,560 --> 00:06:29,480 Speaker 1: the battery last, you know, more than five minutes. It's 152 00:06:29,480 --> 00:06:31,000 Speaker 1: not much of an upgrade. Be no one, it's a 153 00:06:31,040 --> 00:06:33,320 Speaker 1: fine phone. I like it so far. All right. Alice 154 00:06:33,440 --> 00:06:35,279 Speaker 1: mentioned the beer that we're having on the show today. 155 00:06:35,560 --> 00:06:39,040 Speaker 1: We're drinking a beer called if It's the Peaches by 156 00:06:39,160 --> 00:06:42,160 Speaker 1: Cherry Street Brewing Company, and we'll see who gets that reference. 157 00:06:42,160 --> 00:06:43,440 Speaker 1: You know what, You're gonna tease it to the end 158 00:06:43,480 --> 00:06:45,159 Speaker 1: of the episode. Sure, yeah, we'll mention at the end 159 00:06:45,160 --> 00:06:46,400 Speaker 1: of the episode cause you said it for me and 160 00:06:46,440 --> 00:06:48,000 Speaker 1: I didn't know it because I don't listen to this 161 00:06:48,279 --> 00:06:51,440 Speaker 1: band other hint. Yeah, it must be a little play 162 00:06:51,440 --> 00:06:53,920 Speaker 1: on words there. Yeah, and this is a peach milkshake. 163 00:06:54,000 --> 00:06:55,600 Speaker 1: I p a. Oh, and this is a beer that 164 00:06:55,640 --> 00:06:57,359 Speaker 1: you picked up, sir, So thank you for picking this 165 00:06:57,400 --> 00:06:59,120 Speaker 1: one up and sharing with me on the show. No 166 00:06:59,240 --> 00:07:02,200 Speaker 1: problem Amer Street one of my favorite Georgia breweries, So 167 00:07:02,320 --> 00:07:04,840 Speaker 1: looking forward to discussing this one at the end of 168 00:07:04,880 --> 00:07:07,920 Speaker 1: the episode. But Matt onto the topic at hand. Today, 169 00:07:07,960 --> 00:07:11,160 Speaker 1: we're answering listener questions and for folks that have a 170 00:07:11,240 --> 00:07:12,840 Speaker 1: question they want to submit that they want us to 171 00:07:12,880 --> 00:07:15,520 Speaker 1: answer on the show, well, there's an easy way to 172 00:07:15,520 --> 00:07:17,280 Speaker 1: submit your question. Just go to how to money dot 173 00:07:17,360 --> 00:07:21,800 Speaker 1: com slash ask. There are incredibly simple instructions there for 174 00:07:21,840 --> 00:07:24,480 Speaker 1: you to record your question and send it on over 175 00:07:24,520 --> 00:07:26,520 Speaker 1: to us, and we will hopefully be able to tackle 176 00:07:26,560 --> 00:07:29,280 Speaker 1: that on an upcoming episode. Let's get to our first 177 00:07:29,280 --> 00:07:33,000 Speaker 1: one now, Hey, Matt and Joel, this is Crystal from Houston, Texas, 178 00:07:33,080 --> 00:07:35,640 Speaker 1: and I'm a senior at my local university. I am 179 00:07:35,680 --> 00:07:37,960 Speaker 1: super stoked because I just nailed an interview with one 180 00:07:37,960 --> 00:07:40,560 Speaker 1: of my dream companies. My question is if it's too 181 00:07:40,600 --> 00:07:43,320 Speaker 1: taboots to negotiate my salary when they give me an offer. 182 00:07:43,800 --> 00:07:45,560 Speaker 1: While going to college, I worked a lot and I 183 00:07:45,600 --> 00:07:48,080 Speaker 1: have a good amount of experience under my belt. I 184 00:07:48,120 --> 00:07:50,160 Speaker 1: know it can be a little weird to negotiate salary 185 00:07:50,240 --> 00:07:52,440 Speaker 1: for an entry level position, but I feel that with 186 00:07:52,480 --> 00:07:54,840 Speaker 1: the skill sets that I've gained, I might be worth 187 00:07:54,880 --> 00:07:57,280 Speaker 1: a little bit more. Do you guys have any tips 188 00:07:57,320 --> 00:08:00,560 Speaker 1: for negotiating entry level positions? Thank you for answering my 189 00:08:00,640 --> 00:08:03,760 Speaker 1: question and thanks so much for providing such helpful money tips. 190 00:08:04,040 --> 00:08:06,760 Speaker 1: I'll be graduating debt free and you both have motivated 191 00:08:06,760 --> 00:08:10,480 Speaker 1: me so much through that process. Thanks again, Crystal Man, 192 00:08:10,520 --> 00:08:13,120 Speaker 1: congrats on graduating debt free. That's just amazing. What a 193 00:08:13,120 --> 00:08:15,160 Speaker 1: great way to to start your life. And on top 194 00:08:15,160 --> 00:08:17,920 Speaker 1: of that, and offer from your dream company. That's just 195 00:08:17,960 --> 00:08:20,520 Speaker 1: another fantastic way to to kick things off. It's obvious 196 00:08:20,600 --> 00:08:24,360 Speaker 1: that you've got confidence and honestly believing that you're worth 197 00:08:24,400 --> 00:08:26,760 Speaker 1: more like that's just a huge part of the battle. 198 00:08:27,280 --> 00:08:30,520 Speaker 1: Most folks are avoiding asking altogether because they lack the 199 00:08:30,560 --> 00:08:33,400 Speaker 1: confidence and they're not aware of the value that they 200 00:08:33,400 --> 00:08:36,240 Speaker 1: can bring to their company. Yeah, and Crystal, you can 201 00:08:36,320 --> 00:08:40,480 Speaker 1: totally negotiate for even an entry level position. The key 202 00:08:40,640 --> 00:08:43,440 Speaker 1: is to help this employer see that you will be 203 00:08:43,480 --> 00:08:47,200 Speaker 1: providing more value for them as an employee. You want 204 00:08:47,200 --> 00:08:49,480 Speaker 1: to stand out from the other entry level hires by 205 00:08:49,559 --> 00:08:52,160 Speaker 1: highlighting the additional skills that you're going to be bringing 206 00:08:52,160 --> 00:08:54,400 Speaker 1: to the company. You already believe that that's the case 207 00:08:54,520 --> 00:08:56,880 Speaker 1: and that is a big giant leap. That's a huge 208 00:08:56,920 --> 00:09:00,400 Speaker 1: first step. Most new hires, most folks coming out of college, 209 00:09:00,600 --> 00:09:02,960 Speaker 1: they're kind of hoping to land a solid job. They 210 00:09:02,960 --> 00:09:06,160 Speaker 1: don't necessarily believe that they're a game changer for this company. 211 00:09:06,160 --> 00:09:08,120 Speaker 1: But it sounds like you do believe that, and you 212 00:09:08,160 --> 00:09:10,240 Speaker 1: do think that you are going to make a big 213 00:09:10,280 --> 00:09:13,840 Speaker 1: difference for this employer if they hire you. I love 214 00:09:13,880 --> 00:09:17,120 Speaker 1: your confidence and I love that you value the skills 215 00:09:17,160 --> 00:09:19,679 Speaker 1: that you've been able to accumulate so far, whereas a 216 00:09:19,720 --> 00:09:21,800 Speaker 1: lot of people your age they just don't kind of 217 00:09:21,800 --> 00:09:24,040 Speaker 1: think of themselves in those terms. So yeah, I think 218 00:09:24,120 --> 00:09:26,520 Speaker 1: you can totally use that to your advantage. Okay, Crystal, 219 00:09:26,559 --> 00:09:28,440 Speaker 1: So here are some tips. Now when it comes to 220 00:09:28,520 --> 00:09:32,720 Speaker 1: negotiating your potential employer, they might be hiring for a 221 00:09:32,800 --> 00:09:36,240 Speaker 1: specific position, but you will be fulfilling and providing much 222 00:09:36,280 --> 00:09:40,200 Speaker 1: more than what they're just asking for for that specific position. Right, So, 223 00:09:40,240 --> 00:09:42,040 Speaker 1: you want to make sure that you research the salary 224 00:09:42,120 --> 00:09:44,600 Speaker 1: of the actual role that you would be feeling, and 225 00:09:44,640 --> 00:09:46,960 Speaker 1: you can do that with sites like salary dot com, 226 00:09:47,280 --> 00:09:49,800 Speaker 1: glass Door. Glass Door, they have a tool called no 227 00:09:49,960 --> 00:09:53,160 Speaker 1: You're Worth which is pretty sweet and even beyond those 228 00:09:53,200 --> 00:09:56,600 Speaker 1: different websites. Having connections and a network within your industry 229 00:09:56,960 --> 00:10:00,280 Speaker 1: is really valuable. Even though you just graduated, it's sounds 230 00:10:00,280 --> 00:10:02,079 Speaker 1: like you have a lot of experience. I don't know 231 00:10:02,120 --> 00:10:04,680 Speaker 1: if you interned or you work summers in the industry, 232 00:10:04,880 --> 00:10:06,400 Speaker 1: but hopefully you'll be able to kind of check in 233 00:10:06,400 --> 00:10:08,600 Speaker 1: with some work friends and some of those contacts that 234 00:10:08,640 --> 00:10:11,640 Speaker 1: you've made in the time that you've already been working. Yeah, 235 00:10:11,679 --> 00:10:14,080 Speaker 1: and Crystal, if you kind of run into a brick 236 00:10:14,120 --> 00:10:18,120 Speaker 1: wall when it comes to negotiating a higher salary, negotiating 237 00:10:18,160 --> 00:10:20,319 Speaker 1: more pay in the beginning, well, I think there are 238 00:10:20,320 --> 00:10:23,520 Speaker 1: other potential benefits that you can negotiate a little bit easier. 239 00:10:23,559 --> 00:10:25,160 Speaker 1: So let's talk about some of those two. I think 240 00:10:25,160 --> 00:10:28,160 Speaker 1: a lot of employers may not have much flexibility on 241 00:10:28,200 --> 00:10:30,160 Speaker 1: the specific dollar amount that they can offer you. If 242 00:10:30,200 --> 00:10:32,480 Speaker 1: it's a forty eight thousand dollar salary, it's a forty 243 00:10:32,480 --> 00:10:35,040 Speaker 1: eight thousand dollar salary for new hires. But you might 244 00:10:35,040 --> 00:10:37,880 Speaker 1: be able to ask for extra vacation days. If you're 245 00:10:37,880 --> 00:10:41,760 Speaker 1: able to start off by having three vacation weeks instead 246 00:10:41,800 --> 00:10:45,160 Speaker 1: of just the traditional two, that's one really cool way 247 00:10:45,240 --> 00:10:47,439 Speaker 1: that you can basically increase the amount of money that 248 00:10:47,480 --> 00:10:50,439 Speaker 1: you're making. Because you've got more time off, you also 249 00:10:50,480 --> 00:10:53,720 Speaker 1: may be able to ask for work flexibility, maybe more 250 00:10:53,840 --> 00:10:56,760 Speaker 1: remote work time, if that's possible in your field. Although 251 00:10:56,760 --> 00:10:59,199 Speaker 1: I'll give one caveat, I don't always think that's a 252 00:10:59,240 --> 00:11:01,160 Speaker 1: great idea for new hires. I think the more you're 253 00:11:01,200 --> 00:11:02,760 Speaker 1: in front of your boss is, the more you're in 254 00:11:02,800 --> 00:11:05,120 Speaker 1: your work environment, the more beneficial it's going to be 255 00:11:05,160 --> 00:11:06,880 Speaker 1: to you in the long term. But that is something 256 00:11:06,920 --> 00:11:08,840 Speaker 1: that you can think about. Yeah, and ideally you would 257 00:11:08,840 --> 00:11:10,360 Speaker 1: be in front of your bosses because you would be 258 00:11:10,400 --> 00:11:12,240 Speaker 1: in the corner office as well, So that's something you 259 00:11:12,240 --> 00:11:14,920 Speaker 1: can negotiate. Just come straight in and say I want 260 00:11:15,000 --> 00:11:17,280 Speaker 1: that office. I want to sit in the corner office 261 00:11:17,320 --> 00:11:19,840 Speaker 1: with all the windows. Yeah, that that would take a 262 00:11:19,840 --> 00:11:23,120 Speaker 1: certain cockiness that I don't know if Crystal quite possesses that, 263 00:11:23,200 --> 00:11:26,800 Speaker 1: and probably shouldn't possess that yet. Corner office Crystal. Yeah, 264 00:11:26,840 --> 00:11:28,440 Speaker 1: maybe aim for that in twenty years though for sure 265 00:11:28,800 --> 00:11:31,079 Speaker 1: you can you can do it or tend let's accelerate 266 00:11:31,120 --> 00:11:33,559 Speaker 1: that path to the corner office. Most definitely. I think 267 00:11:33,559 --> 00:11:36,600 Speaker 1: another thing that you can negotiate for that is direct 268 00:11:36,960 --> 00:11:41,640 Speaker 1: monetary compensation is a bonus for specific accomplishments. So if 269 00:11:41,640 --> 00:11:44,520 Speaker 1: the starting salary is pretty fixed, pretty rigid, you can 270 00:11:44,559 --> 00:11:46,440 Speaker 1: mention some of the skills that you possess in some 271 00:11:46,480 --> 00:11:48,880 Speaker 1: of the ways that you think you can bring added 272 00:11:48,960 --> 00:11:51,160 Speaker 1: value beyond what other new hires are gonna be able 273 00:11:51,200 --> 00:11:55,160 Speaker 1: to bring, and set specific performance metrics even as you're 274 00:11:55,160 --> 00:11:59,720 Speaker 1: getting hired, and ask for a bonus structure based on 275 00:12:00,200 --> 00:12:03,480 Speaker 1: meeting those metrics, meeting those goals. That's an additional way 276 00:12:03,480 --> 00:12:05,800 Speaker 1: that you can potentially get paid more. But your employer 277 00:12:05,840 --> 00:12:08,680 Speaker 1: is not necessarily scared off by paying you an increased 278 00:12:08,679 --> 00:12:10,959 Speaker 1: salary higher than the rest of the folks that they're 279 00:12:11,040 --> 00:12:12,920 Speaker 1: hiring at the same time. And Crystal, you know you 280 00:12:12,920 --> 00:12:15,120 Speaker 1: mentioned I guess at the beginning of your question. Is 281 00:12:15,200 --> 00:12:18,440 Speaker 1: negotiating your salary to to boo if it's an entry 282 00:12:18,559 --> 00:12:20,839 Speaker 1: level position, Well, the fact is, I don't think anything 283 00:12:20,920 --> 00:12:22,920 Speaker 1: is to boot. If you're cool about it, you want 284 00:12:22,920 --> 00:12:26,640 Speaker 1: to approach this entire situation pretty delicately. If this is 285 00:12:26,679 --> 00:12:29,839 Speaker 1: a dream job with an awesome company, you don't want 286 00:12:29,840 --> 00:12:32,040 Speaker 1: to alienate them, but instead you want to help them 287 00:12:32,120 --> 00:12:34,480 Speaker 1: to realize that you will be on the same team. 288 00:12:34,520 --> 00:12:36,360 Speaker 1: You know, I would tell this employer what it means 289 00:12:36,600 --> 00:12:38,559 Speaker 1: for you to work there, how you can see yourself 290 00:12:38,600 --> 00:12:40,360 Speaker 1: there a long term, to share with them that you 291 00:12:40,400 --> 00:12:41,720 Speaker 1: actually want to be there. I think a lot of 292 00:12:41,720 --> 00:12:45,240 Speaker 1: employers are looking for employees who are dedicated and who 293 00:12:45,280 --> 00:12:47,160 Speaker 1: are going to be loyal, because that's just not something 294 00:12:47,160 --> 00:12:49,080 Speaker 1: that you see today. But if you know that this 295 00:12:49,120 --> 00:12:50,880 Speaker 1: is a dream company and you really could see yourself 296 00:12:50,920 --> 00:12:53,360 Speaker 1: there for the long term, share your passion to get 297 00:12:53,360 --> 00:12:55,840 Speaker 1: all of you all together there on the same team. Yeah. 298 00:12:55,840 --> 00:12:59,200 Speaker 1: I think in today's era of job hopping, of people 299 00:12:59,280 --> 00:13:02,720 Speaker 1: not saying with employers very long, if this employer knows 300 00:13:03,000 --> 00:13:05,320 Speaker 1: that you're planning on being there for quite a long 301 00:13:05,320 --> 00:13:07,360 Speaker 1: time because you love what they do, you really want 302 00:13:07,400 --> 00:13:09,640 Speaker 1: to work there, you love the work environment, that makes 303 00:13:09,679 --> 00:13:11,640 Speaker 1: a big difference. And if they know that you're committed, 304 00:13:11,679 --> 00:13:14,040 Speaker 1: that you're that interested, I think it really helps them 305 00:13:14,120 --> 00:13:17,400 Speaker 1: have the ability to offer you more and to give 306 00:13:17,440 --> 00:13:20,160 Speaker 1: you more incentive to come work for them, because they 307 00:13:20,160 --> 00:13:22,760 Speaker 1: know that they're going to be rewarded if they hire you, 308 00:13:22,760 --> 00:13:25,840 Speaker 1: you're gonna stay there probably for quite a while. One 309 00:13:25,920 --> 00:13:28,319 Speaker 1: other thing I want to add is if you don't 310 00:13:28,400 --> 00:13:32,000 Speaker 1: get the things that you really want out of these negotiations. 311 00:13:32,160 --> 00:13:34,680 Speaker 1: That's okay, you know what, don't think of it as 312 00:13:34,720 --> 00:13:38,600 Speaker 1: a one time negotiation. This, like you said, and like 313 00:13:38,720 --> 00:13:40,560 Speaker 1: you mentioned, this is an employer you really want to 314 00:13:40,559 --> 00:13:43,200 Speaker 1: work with. You will have multiple chances over the years 315 00:13:43,280 --> 00:13:46,560 Speaker 1: to negotiate your salary, to negotiate these benefits. I'm not 316 00:13:46,600 --> 00:13:48,720 Speaker 1: saying not to take this seriously and not to ask 317 00:13:48,760 --> 00:13:50,880 Speaker 1: for what you feel like you deserve. I think you 318 00:13:50,880 --> 00:13:54,440 Speaker 1: should do that even as you're negotiating your first position there. 319 00:13:54,679 --> 00:13:58,360 Speaker 1: But if you don't get everything you want, don't be disappointed. Ultimately, 320 00:13:58,400 --> 00:14:00,560 Speaker 1: if this is a company that you can to yourself 321 00:14:00,720 --> 00:14:02,920 Speaker 1: at for quite a long while, just know that those 322 00:14:03,000 --> 00:14:05,600 Speaker 1: other chances will come. Getting your foot in the door 323 00:14:05,840 --> 00:14:09,120 Speaker 1: sometimes and showing them what you're made of, showing them 324 00:14:09,120 --> 00:14:11,120 Speaker 1: what you can bring to the table. If they're unwilling 325 00:14:11,160 --> 00:14:13,720 Speaker 1: to budge on a starting salary, well, honestly, that's not 326 00:14:13,800 --> 00:14:16,120 Speaker 1: a terrible place to be. And you'll quickly show that 327 00:14:16,240 --> 00:14:19,240 Speaker 1: your value surpasses that of most new hires, and it 328 00:14:19,240 --> 00:14:22,440 Speaker 1: won't be long before your company is recognizing that and 329 00:14:22,600 --> 00:14:25,440 Speaker 1: you are getting that corner office that Matt suggested you 330 00:14:25,520 --> 00:14:27,840 Speaker 1: negotiate four day one, you know, not even ten years, 331 00:14:28,040 --> 00:14:31,280 Speaker 1: five years, five years, Crystals on the fast track. I 332 00:14:31,320 --> 00:14:33,880 Speaker 1: love it. All right, we've had a couple more great questions. 333 00:14:33,960 --> 00:14:36,640 Speaker 1: We're gonna discuss debt consolidation and H S A S. 334 00:14:36,720 --> 00:14:47,920 Speaker 1: But first let's take a quick break, all right, Joel, 335 00:14:48,040 --> 00:14:50,600 Speaker 1: back to the break. What's our next question? Next one 336 00:14:50,800 --> 00:14:55,120 Speaker 1: is about debt consolidation. Hey, Joel and Matt. I caught 337 00:14:55,160 --> 00:14:57,800 Speaker 1: an episode do you guys do? On debt consolidation and 338 00:14:57,920 --> 00:15:01,720 Speaker 1: found it very helpful. I still had one more question 339 00:15:01,760 --> 00:15:05,000 Speaker 1: on the subject. I'm getting married and we have about 340 00:15:05,120 --> 00:15:08,920 Speaker 1: forty dollars in credit card debt, it spread over six cards. 341 00:15:09,920 --> 00:15:13,880 Speaker 1: Besides that the house, that's all the debt we really 342 00:15:13,920 --> 00:15:16,720 Speaker 1: have to pay off, so we want to get it 343 00:15:16,960 --> 00:15:21,120 Speaker 1: done as soon as possible. My question is what do 344 00:15:21,240 --> 00:15:23,120 Speaker 1: we do before we go into the credit union to 345 00:15:23,160 --> 00:15:27,000 Speaker 1: get a low interest sloan. We have one card each 346 00:15:27,120 --> 00:15:30,240 Speaker 1: that we can't cancel because we have some air miles 347 00:15:30,240 --> 00:15:34,520 Speaker 1: on them. But should we cancel all of our other 348 00:15:34,600 --> 00:15:39,080 Speaker 1: cards so we don't have all that available credit or 349 00:15:39,120 --> 00:15:41,840 Speaker 1: should we just lower the limits on them before we go. 350 00:15:42,600 --> 00:15:46,400 Speaker 1: My credit cards have a range limit of eighteen thousand 351 00:15:46,440 --> 00:15:50,600 Speaker 1: to thirty thousand, and I have excellent credit. My fiance 352 00:15:50,800 --> 00:15:53,480 Speaker 1: has a total limit of ten thousand and has a 353 00:15:53,480 --> 00:15:59,120 Speaker 1: good credit. I'm not sure how hard canceling these cards 354 00:15:59,160 --> 00:16:02,480 Speaker 1: will hurt our at his score if we cancel him first, 355 00:16:03,000 --> 00:16:06,200 Speaker 1: they're just looking at first of advice. Jeff, thanks for 356 00:16:06,240 --> 00:16:09,360 Speaker 1: your question, man, and congrats on getting married. Man. It's 357 00:16:09,400 --> 00:16:12,000 Speaker 1: awesome that you two are working together as a team 358 00:16:12,040 --> 00:16:13,960 Speaker 1: to get rid of this debt. That's what marriage is 359 00:16:14,000 --> 00:16:17,560 Speaker 1: all about, your team and everyone's circumstances are different, but 360 00:16:17,640 --> 00:16:20,480 Speaker 1: I think there's so much power when you're able to 361 00:16:20,560 --> 00:16:23,440 Speaker 1: join forces together to kind of work on this. And 362 00:16:23,480 --> 00:16:25,360 Speaker 1: by the way, the episode you referenced in case other 363 00:16:25,400 --> 00:16:28,320 Speaker 1: people want to know more about dec consolidation and our 364 00:16:28,360 --> 00:16:30,800 Speaker 1: feelings on it and how you actually and how you 365 00:16:30,800 --> 00:16:33,840 Speaker 1: should actually think about consolidating your debt, well that was 366 00:16:33,920 --> 00:16:36,360 Speaker 1: episode seventy seven, So check that one out if you 367 00:16:36,360 --> 00:16:38,840 Speaker 1: have questions about the subject. Yeah, Joelan, in that episode, 368 00:16:38,960 --> 00:16:41,480 Speaker 1: that's when we talked about manually consolidating your debt. That 369 00:16:41,520 --> 00:16:44,240 Speaker 1: doesn't mean that he is with a consolidation company. Means 370 00:16:44,280 --> 00:16:46,200 Speaker 1: he's taking the matters into his own hand and he's 371 00:16:46,200 --> 00:16:48,480 Speaker 1: putting his own plan together. That's the kind of debt 372 00:16:48,480 --> 00:16:50,640 Speaker 1: consolidation that we love. But Jeff, to go ahead and 373 00:16:50,640 --> 00:16:52,880 Speaker 1: answer your question, you're asking about the cards. Man, you 374 00:16:52,920 --> 00:16:55,120 Speaker 1: do not need to be canceling the cards. In fact, 375 00:16:55,240 --> 00:16:58,240 Speaker 1: you need to be keeping those cards open. We would 376 00:16:58,280 --> 00:17:00,600 Speaker 1: leave them as they are because if you cancel or 377 00:17:00,640 --> 00:17:02,800 Speaker 1: lower the limits on those cards, that will actually hurt 378 00:17:02,840 --> 00:17:05,199 Speaker 1: your credit score, which will hurt you in the future 379 00:17:05,480 --> 00:17:07,680 Speaker 1: in lots of different ways. So you want to keep 380 00:17:07,680 --> 00:17:10,840 Speaker 1: those cards open. And I would only really consider, you know, 381 00:17:10,880 --> 00:17:13,280 Speaker 1: canceling those cards maybe if you know that you might 382 00:17:13,320 --> 00:17:15,760 Speaker 1: be tempted to spend on those cards, because if that's 383 00:17:15,760 --> 00:17:17,399 Speaker 1: how you got into that debt in the first place, 384 00:17:17,560 --> 00:17:21,760 Speaker 1: and you haven't really addressed those spending patterns, well that 385 00:17:21,880 --> 00:17:24,359 Speaker 1: might be a situation that calls for closing some of 386 00:17:24,359 --> 00:17:26,240 Speaker 1: those cards. But you know what, in the situation, it 387 00:17:26,320 --> 00:17:28,800 Speaker 1: totally sounds like you're cleaning things up, You're forging a 388 00:17:28,840 --> 00:17:31,200 Speaker 1: new path, right, it's a new dawn. And if that's 389 00:17:31,200 --> 00:17:33,119 Speaker 1: the case, keep those cards open because you want to 390 00:17:33,200 --> 00:17:35,520 Speaker 1: keep your credit score high, because you're gonna want that 391 00:17:35,640 --> 00:17:38,160 Speaker 1: high credit score. Yeah, and Jeff, you mentioned that you're 392 00:17:38,160 --> 00:17:41,040 Speaker 1: considering going to a credit union. Matt, and I love 393 00:17:41,160 --> 00:17:44,600 Speaker 1: credit unions. A local credit union often offers the lowest 394 00:17:44,640 --> 00:17:47,439 Speaker 1: interest rates on loan products. That's what credit unions are 395 00:17:47,440 --> 00:17:50,440 Speaker 1: typically known for. They're not often as awesome for a 396 00:17:50,520 --> 00:17:52,879 Speaker 1: savings or checking account, the rates of interest onring as 397 00:17:52,960 --> 00:17:55,399 Speaker 1: high as let's say, an online bank, But when it 398 00:17:55,400 --> 00:17:58,520 Speaker 1: comes to getting a loan product, well, a credit union 399 00:17:58,640 --> 00:18:00,680 Speaker 1: is a great place to go. So once you found 400 00:18:00,680 --> 00:18:02,760 Speaker 1: a good lender like a local credit union, assess how 401 00:18:02,800 --> 00:18:04,879 Speaker 1: quickly you can pay this debt off. The amount of 402 00:18:04,920 --> 00:18:07,040 Speaker 1: time it takes you to knock out that debt will 403 00:18:07,080 --> 00:18:10,840 Speaker 1: determine what type of loan product you actually pursue. You 404 00:18:10,920 --> 00:18:13,280 Speaker 1: said that you have great credit, like could you potentially 405 00:18:13,320 --> 00:18:15,879 Speaker 1: get a new zero percent credit card offer? If you 406 00:18:15,920 --> 00:18:18,920 Speaker 1: could pay down most of that forty dollars of credit 407 00:18:18,960 --> 00:18:21,960 Speaker 1: card debt in a fifteen to eighteen month window, well, 408 00:18:22,000 --> 00:18:23,879 Speaker 1: that could be a really good decision for you. Granted 409 00:18:23,920 --> 00:18:26,280 Speaker 1: that that's a ton of debt to pay off in 410 00:18:26,359 --> 00:18:29,160 Speaker 1: a little over a year, but if you can prioritize 411 00:18:29,160 --> 00:18:32,480 Speaker 1: it highly and you can dedicate a lot of money 412 00:18:32,520 --> 00:18:36,240 Speaker 1: resources towards eliminating it in a small amount of time, well, 413 00:18:36,280 --> 00:18:38,959 Speaker 1: then a zero percent credit card could help you on 414 00:18:39,000 --> 00:18:41,080 Speaker 1: your way. But Jeff, if you don't think you'll be 415 00:18:41,119 --> 00:18:42,639 Speaker 1: able to knock it out, you know, in a little 416 00:18:42,640 --> 00:18:45,080 Speaker 1: over a year. If you think that it will more 417 00:18:45,160 --> 00:18:47,439 Speaker 1: realistically be maybe three to five years before you can 418 00:18:47,520 --> 00:18:49,840 Speaker 1: knock out that debt, then a home equity line of 419 00:18:49,880 --> 00:18:52,000 Speaker 1: credit on your house actually could be a pretty good 420 00:18:52,000 --> 00:18:53,880 Speaker 1: option for you. You're just gonna want to make sure 421 00:18:53,920 --> 00:18:57,119 Speaker 1: that you're being careful when it comes to exchanging that 422 00:18:57,240 --> 00:19:00,639 Speaker 1: unsecured credit card debt for secured debts that being on 423 00:19:00,720 --> 00:19:03,240 Speaker 1: your house, because you put your house at risk when 424 00:19:03,280 --> 00:19:04,960 Speaker 1: you do that. You want to make sure that you 425 00:19:05,000 --> 00:19:07,520 Speaker 1: are on board, like both of you had. You know, 426 00:19:07,560 --> 00:19:09,600 Speaker 1: you've drink the cool aid, you're committed to paying down 427 00:19:09,600 --> 00:19:11,840 Speaker 1: this debt. If you are, then a helock might be 428 00:19:11,880 --> 00:19:14,120 Speaker 1: a great option. You're likely to get a much better 429 00:19:14,240 --> 00:19:16,640 Speaker 1: rates with a helox than you would with a personal 430 00:19:16,720 --> 00:19:19,879 Speaker 1: loan with the very same credit union, but getting either 431 00:19:20,040 --> 00:19:23,280 Speaker 1: as you represent credit card, getting a helock, these are 432 00:19:23,320 --> 00:19:25,800 Speaker 1: all gonna be much better options than keeping the high 433 00:19:25,880 --> 00:19:28,040 Speaker 1: rates of interest that you have with those open cards, 434 00:19:28,359 --> 00:19:30,520 Speaker 1: and it's probably definitely gonna be better than going with 435 00:19:30,560 --> 00:19:33,640 Speaker 1: a debt consolidation company. Yeah, Jeff, and I think instammation. 436 00:19:33,680 --> 00:19:36,200 Speaker 1: It's important for us to say to be focused on 437 00:19:36,320 --> 00:19:39,040 Speaker 1: the right things. Your question is about whether or not 438 00:19:39,080 --> 00:19:41,520 Speaker 1: you should close credit cards or lower the limits. That 439 00:19:41,760 --> 00:19:43,959 Speaker 1: is not what you should be focused on. The biggest 440 00:19:43,960 --> 00:19:46,439 Speaker 1: thing that you have in your control is to slash 441 00:19:46,440 --> 00:19:48,680 Speaker 1: expenses and be able to take more of your income 442 00:19:48,880 --> 00:19:51,560 Speaker 1: to more rapidly pay down this debt. There are ways 443 00:19:51,560 --> 00:19:53,360 Speaker 1: that you can lower the interest that you're paying on 444 00:19:53,359 --> 00:19:55,920 Speaker 1: this debt by getting a zero percent card or taking 445 00:19:55,920 --> 00:19:57,680 Speaker 1: out a helock on your home, like these are ways 446 00:19:57,680 --> 00:19:59,760 Speaker 1: that you can pay less interest while you're doing that. 447 00:20:00,160 --> 00:20:02,119 Speaker 1: But mindset is a huge part of this as well, 448 00:20:02,160 --> 00:20:04,119 Speaker 1: and it sounds like you're ready to tackle this head on. 449 00:20:04,480 --> 00:20:07,080 Speaker 1: Just make sure not to lose that fervor set a deadline, 450 00:20:07,080 --> 00:20:09,639 Speaker 1: and get about the process of kicking this debt to 451 00:20:09,680 --> 00:20:11,960 Speaker 1: the curb, all right, jel. Our next question is about 452 00:20:12,000 --> 00:20:14,720 Speaker 1: an h s A A Health savings accounts, which we've 453 00:20:14,760 --> 00:20:17,879 Speaker 1: talked about before. How it's the ultimate retirement vehicle. It's 454 00:20:17,880 --> 00:20:20,840 Speaker 1: pretty sweet. Yeah, so let's go ahead and hear this one. Hey, 455 00:20:20,880 --> 00:20:24,240 Speaker 1: this is Theresa listening from Coming Georgia. I was intrigued 456 00:20:24,280 --> 00:20:27,120 Speaker 1: by your podcast about h s A accounts as luck 457 00:20:27,160 --> 00:20:29,399 Speaker 1: would have it, I am in open enrollment at work. 458 00:20:30,040 --> 00:20:34,439 Speaker 1: Here is my situation. I do have an hs A option. 459 00:20:34,920 --> 00:20:39,160 Speaker 1: My company will not do pretext deductions, so any contribution 460 00:20:39,200 --> 00:20:42,840 Speaker 1: will be made with after tax money. So I didn't 461 00:20:42,840 --> 00:20:45,919 Speaker 1: know if possibly it could work like a ROF because 462 00:20:45,960 --> 00:20:49,320 Speaker 1: you mentioned a traditional I R A. I do not 463 00:20:49,520 --> 00:20:53,040 Speaker 1: have a four one K available. We have only had 464 00:20:53,080 --> 00:20:57,120 Speaker 1: one person utilized the h s A and last year 465 00:20:57,160 --> 00:21:00,640 Speaker 1: her accountant did adjust her income based on our contribution. 466 00:21:01,280 --> 00:21:04,040 Speaker 1: But now that I'm saying this out loud, I wonder 467 00:21:04,080 --> 00:21:07,119 Speaker 1: if that was even correct because it was all with 468 00:21:07,200 --> 00:21:11,120 Speaker 1: after tax moneys. So I'm wondering if this would still 469 00:21:11,200 --> 00:21:16,600 Speaker 1: be beneficial to me. Based on your podcast, it sounds 470 00:21:16,640 --> 00:21:20,320 Speaker 1: like I'm probably only getting half the benefit. So I 471 00:21:20,359 --> 00:21:23,760 Speaker 1: look forward to your response. I really enjoy your podcast 472 00:21:24,480 --> 00:21:26,879 Speaker 1: and thank you for your time. So Teresa, thanks so 473 00:21:26,920 --> 00:21:28,840 Speaker 1: much for your question. Joel. Real quick, she said she's 474 00:21:28,840 --> 00:21:31,960 Speaker 1: incoming Georgia. That's where our beer for this episode is from. 475 00:21:32,000 --> 00:21:34,520 Speaker 1: Oh my gosh, So Teresa, you need to be heading 476 00:21:34,520 --> 00:21:37,880 Speaker 1: over and checking out Cherry Street Brewing if you haven't already. 477 00:21:38,040 --> 00:21:39,800 Speaker 1: That's crazy, dude, I don't even think about that. That's 478 00:21:39,840 --> 00:21:42,320 Speaker 1: actually the same same little town there in Georgia's it's 479 00:21:42,320 --> 00:21:44,640 Speaker 1: about an hour north of where we are, and they're 480 00:21:44,640 --> 00:21:47,800 Speaker 1: making some delightful beers. So Teresa check out. Talk more 481 00:21:47,800 --> 00:21:49,480 Speaker 1: about this's beer at the end of the upset, though, 482 00:21:49,520 --> 00:21:51,639 Speaker 1: But let's talk about hsa is and kind of how 483 00:21:51,680 --> 00:21:54,240 Speaker 1: they work. Any money that goes into an h s 484 00:21:54,320 --> 00:21:57,760 Speaker 1: A is tax free, and while most employers might allow 485 00:21:57,840 --> 00:22:01,199 Speaker 1: a payroll deduction, it's not required in this case. You 486 00:22:01,200 --> 00:22:03,800 Speaker 1: could still contribute to your h s A with what 487 00:22:04,040 --> 00:22:06,400 Speaker 1: feels like post tax money, but you would be able 488 00:22:06,400 --> 00:22:09,199 Speaker 1: to claim that deduction when you file your taxes at 489 00:22:09,240 --> 00:22:11,080 Speaker 1: the end of the year. So it sounds like that's 490 00:22:11,080 --> 00:22:14,400 Speaker 1: what your friend did, which is actually cool. That's totally compliant. 491 00:22:14,600 --> 00:22:16,280 Speaker 1: The I R S is going to be happy with 492 00:22:16,320 --> 00:22:18,199 Speaker 1: the fact that she did it that way. It's just 493 00:22:18,320 --> 00:22:21,159 Speaker 1: a different way that you can take advantage of making 494 00:22:21,200 --> 00:22:24,520 Speaker 1: those contributions with quote unquote pre tax money. And let's 495 00:22:24,560 --> 00:22:26,520 Speaker 1: talk about what you should do with your h s 496 00:22:26,520 --> 00:22:29,280 Speaker 1: A if your employer isn't offering any incentives for you 497 00:22:29,320 --> 00:22:32,200 Speaker 1: to contribute. So it sounds like your employer isn't contributing 498 00:22:32,200 --> 00:22:34,960 Speaker 1: anything to your h s A. So there really isn't 499 00:22:35,000 --> 00:22:38,200 Speaker 1: any benefit to keeping your h s A with your 500 00:22:38,200 --> 00:22:41,240 Speaker 1: work sponsored plan if they're not actually putting any money 501 00:22:41,280 --> 00:22:43,840 Speaker 1: towards it, and work provided h s as aren't typically 502 00:22:43,840 --> 00:22:46,040 Speaker 1: known for getting you access to the best accounts that 503 00:22:46,040 --> 00:22:49,040 Speaker 1: are out there. Oftentimes there can be hidden fees or 504 00:22:49,080 --> 00:22:51,680 Speaker 1: costs that are baked into the product that are hard 505 00:22:51,720 --> 00:22:54,840 Speaker 1: to find unless you go digging for them. So part 506 00:22:54,880 --> 00:22:57,159 Speaker 1: of your question was is an hs A going to 507 00:22:57,240 --> 00:22:59,399 Speaker 1: be beneficial for you? And the answer to that is 508 00:22:59,640 --> 00:23:02,760 Speaker 1: a sounding yes. If you have a high deductible health plan, 509 00:23:03,200 --> 00:23:05,480 Speaker 1: utilizing an HSA to its fullest potential is one of 510 00:23:05,520 --> 00:23:08,119 Speaker 1: those things that you should most definitely prioritize. But the 511 00:23:08,160 --> 00:23:10,040 Speaker 1: thing is, you should consider having your h s A 512 00:23:10,440 --> 00:23:13,200 Speaker 1: with another company and not the one that your work 513 00:23:13,280 --> 00:23:15,520 Speaker 1: is giving you access to. Yeah, So, Tresa, if this 514 00:23:15,560 --> 00:23:18,000 Speaker 1: sounds like you, you might be asking yourself the question, 515 00:23:18,200 --> 00:23:20,560 Speaker 1: well where should I take my h s A. Well, 516 00:23:20,600 --> 00:23:22,679 Speaker 1: you want to go with a low cost provider like 517 00:23:22,800 --> 00:23:26,720 Speaker 1: Fidelity or Lively. Both of those are great options regardless 518 00:23:26,920 --> 00:23:29,560 Speaker 1: of where you are employed. And so, by the way, 519 00:23:29,600 --> 00:23:32,280 Speaker 1: that was episode one oh five that we talked about 520 00:23:32,359 --> 00:23:34,879 Speaker 1: h s A s and another quick hip three so 521 00:23:34,920 --> 00:23:36,960 Speaker 1: make sure that you keep all of your health related 522 00:23:37,000 --> 00:23:39,840 Speaker 1: receipts so that years down the road you have the 523 00:23:39,920 --> 00:23:43,440 Speaker 1: option to reimburse yourself for those expenses. And that's because 524 00:23:43,440 --> 00:23:44,879 Speaker 1: you want to be able to use your h s 525 00:23:44,880 --> 00:23:48,200 Speaker 1: A like a fantastic retirement account. You mentioned how you 526 00:23:48,240 --> 00:23:49,760 Speaker 1: don't have a four one K, Well, this is how 527 00:23:49,800 --> 00:23:51,919 Speaker 1: you get some of those boor one K benefits, but 528 00:23:52,200 --> 00:23:54,680 Speaker 1: through your h s A. Yeah, And the reason that 529 00:23:54,840 --> 00:23:57,720 Speaker 1: Fidelity and Lively are two of our favorites is because 530 00:23:57,760 --> 00:24:01,960 Speaker 1: they offer amazing access to you incredibly low cost investment 531 00:24:01,960 --> 00:24:05,160 Speaker 1: options inside of your hs A. And that is specifically 532 00:24:05,400 --> 00:24:07,719 Speaker 1: how you're able to take advantage of an h s 533 00:24:07,720 --> 00:24:10,760 Speaker 1: A and make it more of a health investment plan 534 00:24:10,840 --> 00:24:12,760 Speaker 1: than a health savings plan. A lot of people use 535 00:24:12,800 --> 00:24:14,800 Speaker 1: in h s A and they spend it on same 536 00:24:14,920 --> 00:24:17,960 Speaker 1: year medical expenses, and that's not a terrible idea. You 537 00:24:18,040 --> 00:24:20,280 Speaker 1: still get a nice little tax benefit for that, but 538 00:24:20,320 --> 00:24:22,760 Speaker 1: you get a massive tax benefit if you're able to 539 00:24:22,800 --> 00:24:25,080 Speaker 1: invest that money and let it grow over the long term. 540 00:24:25,119 --> 00:24:26,960 Speaker 1: And that's why having your h s A with one 541 00:24:27,000 --> 00:24:29,400 Speaker 1: of those companies is an awesome way to go. And Matt, 542 00:24:29,400 --> 00:24:31,480 Speaker 1: we've got a couple more questions to get to, including 543 00:24:31,600 --> 00:24:33,920 Speaker 1: how do you save and invest when your paycheck varies 544 00:24:33,920 --> 00:24:36,800 Speaker 1: for month to month? And also what about buying a 545 00:24:36,840 --> 00:24:39,840 Speaker 1: car with a salvage title? Is that a bad idea? Well, 546 00:24:39,840 --> 00:24:51,360 Speaker 1: we'll get to that right after the break. Joel, we're 547 00:24:51,400 --> 00:24:52,920 Speaker 1: back from the break and we're about to take a 548 00:24:53,000 --> 00:24:56,520 Speaker 1: question here about clean titles, which I hear are pretty 549 00:24:56,520 --> 00:24:59,680 Speaker 1: important when it comes to shopping for a car. Hey, 550 00:24:59,720 --> 00:25:03,080 Speaker 1: d you'll Matt, this is Massa from Boston, Massachusetts. After 551 00:25:03,119 --> 00:25:05,040 Speaker 1: listening to your episodes at debt, was buying a car, 552 00:25:05,400 --> 00:25:08,199 Speaker 1: most recently number eighty nine, the best car for frugal folks. 553 00:25:08,640 --> 00:25:11,160 Speaker 1: I looked in use cars in my area. I found 554 00:25:11,160 --> 00:25:13,240 Speaker 1: a few that I think would meet both your criteria 555 00:25:13,240 --> 00:25:16,720 Speaker 1: for frugal and my criteria four. I drive that. Then 556 00:25:16,880 --> 00:25:19,520 Speaker 1: I limited my search to include only those with clean titles. 557 00:25:20,040 --> 00:25:23,040 Speaker 1: That's when all the searchers olds disappeared. I googled what 558 00:25:23,119 --> 00:25:25,080 Speaker 1: clean title meant for used cars? And I think it 559 00:25:25,080 --> 00:25:26,800 Speaker 1: means that that used car has not been in an 560 00:25:26,800 --> 00:25:30,320 Speaker 1: accident or flooded or whatever. And y'alls's opinion, how important 561 00:25:30,359 --> 00:25:32,480 Speaker 1: is having a clean title for a used car? Is 562 00:25:32,480 --> 00:25:34,679 Speaker 1: a lack of a clean tittle deal breaker if the 563 00:25:34,680 --> 00:25:36,760 Speaker 1: mechanic I trust checks out the car and says it's fine, 564 00:25:36,760 --> 00:25:38,639 Speaker 1: even if the car doesn't have a clean title. Should 565 00:25:38,640 --> 00:25:40,840 Speaker 1: I get the car? That I even get the definition 566 00:25:40,840 --> 00:25:42,919 Speaker 1: of clean tittle right as it pertains to used cars. 567 00:25:43,600 --> 00:25:45,720 Speaker 1: Keep up the good work, and Joel, I love rowing 568 00:25:45,760 --> 00:25:48,199 Speaker 1: machines too. I've put over thirty million meters on my 569 00:25:48,280 --> 00:25:52,200 Speaker 1: concept to earth MASSA. Yes, dude, rowing machines so cool. 570 00:25:52,320 --> 00:25:55,160 Speaker 1: If only I actually did it on a consistent basis, 571 00:25:55,200 --> 00:25:58,280 Speaker 1: I might actually have a modicum of upper body strength. 572 00:25:58,520 --> 00:26:01,000 Speaker 1: But yeah, I do love row machines. I'm all about 573 00:26:01,040 --> 00:26:04,359 Speaker 1: exercising in a way that's fun. I hate running, but 574 00:26:04,400 --> 00:26:07,240 Speaker 1: I'll bike anywhere. Rowing is like fun. It's like this 575 00:26:07,280 --> 00:26:09,600 Speaker 1: whole body activity, and but you're just sitting there, like 576 00:26:09,680 --> 00:26:11,880 Speaker 1: unless you're on an actual boat. Right now, I get 577 00:26:11,920 --> 00:26:13,720 Speaker 1: into do you need to get into running? Actually just 578 00:26:13,760 --> 00:26:16,199 Speaker 1: started looking ahead to plan to run this race in 579 00:26:16,200 --> 00:26:18,560 Speaker 1: her neighborhood. It's a beer mile. It's like where you 580 00:26:18,560 --> 00:26:20,520 Speaker 1: just run a little bit and then you drink. That 581 00:26:20,520 --> 00:26:22,600 Speaker 1: sounds nice. I heard about that. I might have to 582 00:26:22,680 --> 00:26:24,480 Speaker 1: join up. I might make an exception for that. That 583 00:26:24,560 --> 00:26:26,399 Speaker 1: might be the kind of run that you can get into. Okay, 584 00:26:26,400 --> 00:26:29,639 Speaker 1: all right, I'll consider it. But let's get into Massa's question. 585 00:26:29,680 --> 00:26:32,840 Speaker 1: Now he's asking about salvage titles, and man, it's a 586 00:26:32,880 --> 00:26:34,840 Speaker 1: really really good question. This is something that comes up 587 00:26:34,840 --> 00:26:37,360 Speaker 1: when people are buying used cars. There are a lot 588 00:26:37,359 --> 00:26:39,959 Speaker 1: of used cars with salvage titles out there, and a 589 00:26:39,960 --> 00:26:42,600 Speaker 1: salvage title means that it was likely written off as 590 00:26:42,600 --> 00:26:45,439 Speaker 1: a total loss. Buy an insurance company. It could have 591 00:26:45,440 --> 00:26:47,680 Speaker 1: been in a massive accident, or could be even a 592 00:26:47,680 --> 00:26:51,280 Speaker 1: flood car. Get to be particularly wary of those. After 593 00:26:51,320 --> 00:26:55,000 Speaker 1: a massive tropical storm or hurricane with lots of flooding. Man, 594 00:26:55,040 --> 00:26:58,560 Speaker 1: you can have hundreds of thousands of flood cars. You 595 00:26:58,560 --> 00:27:01,800 Speaker 1: think about Texas, Texas, Yeah, after Yeah, that happens. There 596 00:27:01,800 --> 00:27:04,479 Speaker 1: are a lot of cars that get salvage titles because 597 00:27:04,560 --> 00:27:07,119 Speaker 1: they've been through massive amounts of flooding. And a flood 598 00:27:07,160 --> 00:27:09,440 Speaker 1: car could potentially be made to to look all right 599 00:27:09,480 --> 00:27:11,960 Speaker 1: to the human eye, but under the hood there could 600 00:27:11,960 --> 00:27:14,800 Speaker 1: be a massive amount of problems waiting you because of 601 00:27:14,840 --> 00:27:17,000 Speaker 1: all the water it was sitting in. So that is 602 00:27:17,040 --> 00:27:19,919 Speaker 1: a particular situation in which a salvage title might not 603 00:27:20,000 --> 00:27:22,119 Speaker 1: be a good idea. But Matt, I do think that 604 00:27:22,200 --> 00:27:24,640 Speaker 1: there are times where it's okay to buy a car 605 00:27:24,800 --> 00:27:27,240 Speaker 1: with a salvage title. And here's kind of the way 606 00:27:27,280 --> 00:27:29,320 Speaker 1: I think about it. If you do have it thoroughly 607 00:27:29,359 --> 00:27:31,600 Speaker 1: inspected by a mechanic that knows what he or she 608 00:27:31,840 --> 00:27:34,880 Speaker 1: is doing, and you know what you're getting into, well, 609 00:27:34,920 --> 00:27:36,720 Speaker 1: then it can be an okay idea. And I can't 610 00:27:36,760 --> 00:27:38,760 Speaker 1: stress that enough, Like, you really need an expert on 611 00:27:38,800 --> 00:27:41,520 Speaker 1: your side that knows how to assess body damage, potential 612 00:27:41,520 --> 00:27:44,520 Speaker 1: flood damage, any of the issues that might be lying 613 00:27:44,560 --> 00:27:47,840 Speaker 1: underneath the surface the you and I, as non auto experts, 614 00:27:47,960 --> 00:27:50,280 Speaker 1: won't be able to find. And in my opinion, you 615 00:27:50,320 --> 00:27:52,959 Speaker 1: need to be able to score a decent discount on 616 00:27:53,040 --> 00:27:55,600 Speaker 1: the purchase of a vehicle with a salvage title, because 617 00:27:55,600 --> 00:27:58,240 Speaker 1: that's going to affect your resell value at the same time. 618 00:27:58,560 --> 00:28:00,480 Speaker 1: So if you have a trusted mechanic and they say, 619 00:28:00,480 --> 00:28:03,399 Speaker 1: you know what, this car has been restored very very well. 620 00:28:03,720 --> 00:28:06,119 Speaker 1: It was in a major accident, but now it's in 621 00:28:06,160 --> 00:28:08,560 Speaker 1: really solid condition, and you can score a really good 622 00:28:08,600 --> 00:28:11,400 Speaker 1: discount because it's basically got that scarlet letter of being 623 00:28:11,400 --> 00:28:14,480 Speaker 1: branded as a salvage title vehicle. Well, then I think 624 00:28:14,680 --> 00:28:16,800 Speaker 1: jumping into a car like that can make some sense, 625 00:28:16,920 --> 00:28:18,920 Speaker 1: sort of like you if your a refer phone, right, 626 00:28:18,960 --> 00:28:22,320 Speaker 1: like maybe it was flooded in the toilet by somebody else, right, 627 00:28:22,960 --> 00:28:24,920 Speaker 1: but they made it all better. It's all better, No 628 00:28:25,400 --> 00:28:27,959 Speaker 1: man a salvage title. For me, this is a tough call, right, 629 00:28:28,040 --> 00:28:30,680 Speaker 1: Like it almost sounds like a good frugal or cheap 630 00:28:31,280 --> 00:28:33,359 Speaker 1: for me with a family, Like if we were getting 631 00:28:33,400 --> 00:28:36,119 Speaker 1: a second car, I'd consider it maybe for me just 632 00:28:36,200 --> 00:28:38,160 Speaker 1: as a local driver, you know, like if I was 633 00:28:38,200 --> 00:28:39,840 Speaker 1: just commuting all the time and I knew I could 634 00:28:39,840 --> 00:28:41,560 Speaker 1: just kind of take it to working back. Mostly just 635 00:28:41,600 --> 00:28:44,280 Speaker 1: for me, I would consider it then. But I don't 636 00:28:44,280 --> 00:28:46,000 Speaker 1: think I would really consider it if I was planning 637 00:28:46,040 --> 00:28:48,080 Speaker 1: to take that vehicle as much like on a longer 638 00:28:48,120 --> 00:28:50,640 Speaker 1: trip like on the interstates, maybe if I was driving 639 00:28:50,680 --> 00:28:52,880 Speaker 1: all the time with my family with me, because I 640 00:28:52,880 --> 00:28:54,880 Speaker 1: feel like that might be a situation where I feel 641 00:28:54,880 --> 00:28:57,320 Speaker 1: like I'm kind of imposing my cheapness on like others 642 00:28:57,360 --> 00:28:59,680 Speaker 1: around me, especially if like the car were to break 643 00:28:59,680 --> 00:29:02,680 Speaker 1: down or you know, god forbid, there's any safety issues, 644 00:29:02,720 --> 00:29:05,280 Speaker 1: Like what if you you know, something happens, then you're like, oh, damn. Like. 645 00:29:05,320 --> 00:29:07,840 Speaker 1: The reason that happen is because we bought this cheap car. 646 00:29:07,920 --> 00:29:09,440 Speaker 1: You know, we got we got a great deal on it. 647 00:29:09,640 --> 00:29:12,360 Speaker 1: It was salvage. But again, hopefully the vast majority of 648 00:29:12,360 --> 00:29:14,560 Speaker 1: that you can identify at a time with a really 649 00:29:14,600 --> 00:29:17,280 Speaker 1: good mechanic. But for me personally, I think I would 650 00:29:17,280 --> 00:29:19,400 Speaker 1: I would probably shy away from that unless I knew 651 00:29:19,400 --> 00:29:22,040 Speaker 1: it was just mostly driving from me around town. Yeah, 652 00:29:22,080 --> 00:29:24,080 Speaker 1: I think if in this search process, if if you're 653 00:29:24,080 --> 00:29:27,520 Speaker 1: having a hard time finding a decent used car that 654 00:29:27,720 --> 00:29:30,040 Speaker 1: doesn't have a salvage title, I think you just need 655 00:29:30,080 --> 00:29:33,600 Speaker 1: to probably take a little bit longer to search, continue 656 00:29:33,600 --> 00:29:36,000 Speaker 1: to drive what you're driving now. Really, it puts you 657 00:29:36,040 --> 00:29:38,440 Speaker 1: in the catbird seat. The longer you have to be 658 00:29:38,480 --> 00:29:41,120 Speaker 1: able to look for a vehicle. If you have weeks 659 00:29:41,240 --> 00:29:44,200 Speaker 1: or even months that you can be looking and you 660 00:29:44,280 --> 00:29:46,320 Speaker 1: don't have to pull the trigger, you don't have to 661 00:29:46,360 --> 00:29:49,240 Speaker 1: make a purchase, well that just gives you more opportunity 662 00:29:49,280 --> 00:29:51,560 Speaker 1: to find a deal, to find that diamond in the rough, 663 00:29:51,840 --> 00:29:54,560 Speaker 1: and then to negotiate and get your price on the 664 00:29:54,560 --> 00:29:56,320 Speaker 1: car that you're interested in. So I think Matt makes 665 00:29:56,320 --> 00:29:58,400 Speaker 1: a good point. I wouldn't settle for a car with 666 00:29:58,440 --> 00:30:00,560 Speaker 1: a salvage title. I think if you're able to score 667 00:30:00,560 --> 00:30:03,280 Speaker 1: a ridiculous deal because of it, and you're willing to 668 00:30:03,360 --> 00:30:04,920 Speaker 1: drive it for a while, and you don't mind the 669 00:30:04,960 --> 00:30:07,000 Speaker 1: fact that it's not worth as much to the next 670 00:30:07,000 --> 00:30:08,720 Speaker 1: person that you are going to sell it to when 671 00:30:08,760 --> 00:30:11,200 Speaker 1: you're done with it, then I think it's not a 672 00:30:11,280 --> 00:30:13,880 Speaker 1: terrible idea, but it's definitely not your only option. Your 673 00:30:13,920 --> 00:30:16,720 Speaker 1: best option is probably to wait around and try to 674 00:30:16,760 --> 00:30:18,680 Speaker 1: find a great deal on a car that has a 675 00:30:18,720 --> 00:30:21,320 Speaker 1: clean title. All right, Matt, Let's get to our final 676 00:30:21,400 --> 00:30:24,040 Speaker 1: question for this episode, and this is something that you 677 00:30:24,120 --> 00:30:27,680 Speaker 1: have a lot of familiarity with. Okay, Matt and Joel, 678 00:30:27,960 --> 00:30:31,800 Speaker 1: you're Sarah and Sean from Alaska. And as we've delfered 679 00:30:31,800 --> 00:30:33,840 Speaker 1: in the world of personal finance in the past year, 680 00:30:33,880 --> 00:30:37,520 Speaker 1: we've noticed that most advice is heared towards salaried office workers. 681 00:30:38,120 --> 00:30:41,040 Speaker 1: We are not working in the maritime industry. We make 682 00:30:41,080 --> 00:30:43,680 Speaker 1: good money, but we make an hourly wage, and because 683 00:30:43,720 --> 00:30:47,400 Speaker 1: we work odd hours, our paychecks very wildly. I've seen 684 00:30:47,400 --> 00:30:49,640 Speaker 1: paychecks as little as six hundred dollars for a pay 685 00:30:49,720 --> 00:30:52,600 Speaker 1: period and as much as four thousand. Sean has a 686 00:30:52,640 --> 00:30:55,400 Speaker 1: more stable schedule, but his paychecks vary by as much 687 00:30:55,400 --> 00:30:59,520 Speaker 1: as a hundred and automating bills as a no brainer. 688 00:30:59,760 --> 00:31:02,080 Speaker 1: Were fortunate enough to be able to break the month 689 00:31:02,160 --> 00:31:04,400 Speaker 1: to month cycle and have enough in the bill's account 690 00:31:04,440 --> 00:31:08,400 Speaker 1: to cover low pay periods. However, all the advice out 691 00:31:08,400 --> 00:31:13,080 Speaker 1: there about automated savings don't apply. For instance, we saved 692 00:31:13,080 --> 00:31:16,680 Speaker 1: ten percent of Shawn's checked towards home improvement, but that 693 00:31:16,760 --> 00:31:19,520 Speaker 1: amount hasn't been the same since we started saving six 694 00:31:19,520 --> 00:31:22,719 Speaker 1: months ago. Now, most of our paychecks go towards very 695 00:31:22,800 --> 00:31:25,840 Speaker 1: savings accounts, but it's all on our system because we 696 00:31:25,880 --> 00:31:29,360 Speaker 1: can't automate it. So our question is, do you have 697 00:31:29,440 --> 00:31:31,959 Speaker 1: any advice for folks I guess, any side tricks for 698 00:31:32,000 --> 00:31:37,240 Speaker 1: folks with unstable income to save better because we find 699 00:31:37,280 --> 00:31:40,760 Speaker 1: this problem over and over again when the paycheck comes in. Oh, 700 00:31:41,000 --> 00:31:44,360 Speaker 1: let's have fun. Thank you so much for all that 701 00:31:44,440 --> 00:31:48,160 Speaker 1: you do. Yes, Sarah and Sean. By the way, having 702 00:31:48,160 --> 00:31:50,840 Speaker 1: that variable income like that is hard. It is not 703 00:31:50,960 --> 00:31:54,640 Speaker 1: easy to have a consistency in your finances when your 704 00:31:54,680 --> 00:31:57,640 Speaker 1: income fluctuates. Joe, have you ever had an income that 705 00:31:57,880 --> 00:32:00,800 Speaker 1: wasn't consistent? Yeah, for sure. With our early jobs here 706 00:32:00,840 --> 00:32:02,720 Speaker 1: and there, back in the day. But I've had a 707 00:32:02,720 --> 00:32:06,000 Speaker 1: fairly consistent salary job for for a number of years now, 708 00:32:06,040 --> 00:32:08,040 Speaker 1: so it's not something I've faced a lot recently. But 709 00:32:08,040 --> 00:32:09,320 Speaker 1: but I think there are a lot of ways that 710 00:32:09,440 --> 00:32:13,040 Speaker 1: someone with a varying paycheck lifestyle can still prioritize saving 711 00:32:13,040 --> 00:32:15,640 Speaker 1: and investing, even though it can be harder a So, Sarah, 712 00:32:15,680 --> 00:32:18,800 Speaker 1: one of the simplest ways to combat how difficult it 713 00:32:18,800 --> 00:32:21,320 Speaker 1: can be to save with a variable income is to 714 00:32:21,360 --> 00:32:24,040 Speaker 1: save more money so that you have a larger emergency fund, 715 00:32:24,480 --> 00:32:26,160 Speaker 1: and that will allow you to have a little more 716 00:32:26,160 --> 00:32:28,600 Speaker 1: margin the bare minimum that you want to have as 717 00:32:28,640 --> 00:32:31,600 Speaker 1: a thousand for an emergency fund, but ideally for most 718 00:32:31,600 --> 00:32:34,360 Speaker 1: folks is closer to about three months of living expenses. 719 00:32:34,480 --> 00:32:37,479 Speaker 1: But in your case, when you have a really variable income, 720 00:32:37,600 --> 00:32:40,000 Speaker 1: and I would also put myself in this category, that's 721 00:32:40,000 --> 00:32:42,160 Speaker 1: when we're gonna want to have something closer to six 722 00:32:42,200 --> 00:32:45,280 Speaker 1: months of expenses set aside. When you're able to do that, 723 00:32:45,280 --> 00:32:48,000 Speaker 1: this should allow us to continue to save and invest 724 00:32:48,240 --> 00:32:53,000 Speaker 1: a set dollar amounts even when your income varies wildly. Yeah, 725 00:32:53,040 --> 00:32:55,240 Speaker 1: there's something about having a sweet stockpile of cash in 726 00:32:55,280 --> 00:32:58,080 Speaker 1: the bank that makes it easier to fund your I 727 00:32:58,280 --> 00:33:01,240 Speaker 1: ra A automatically every month. Right. That cash cushion is 728 00:33:01,280 --> 00:33:04,320 Speaker 1: so helpful. Another thing that's really helpful if you're living 729 00:33:04,360 --> 00:33:08,320 Speaker 1: that varying paycheck lifestyle is to think about it in percentages. 730 00:33:08,360 --> 00:33:10,520 Speaker 1: And it sounds like you guys are doing that. You've 731 00:33:10,520 --> 00:33:13,239 Speaker 1: been able to determine percentages for where you want your 732 00:33:13,280 --> 00:33:15,440 Speaker 1: money to go, and this is a great way to 733 00:33:15,480 --> 00:33:18,160 Speaker 1: continue to save and invest, even if your income for 734 00:33:18,200 --> 00:33:20,760 Speaker 1: a particular month is smaller, and it may not be 735 00:33:20,880 --> 00:33:25,680 Speaker 1: a specific dollar amount, but thinking in percentages can be great. 736 00:33:26,440 --> 00:33:29,200 Speaker 1: Is fift regardless of how much you've earned, and you 737 00:33:29,280 --> 00:33:32,480 Speaker 1: know that over the course of a year, it's all 738 00:33:32,520 --> 00:33:35,200 Speaker 1: going to even out. Dual percentages are great. Like you said, 739 00:33:35,240 --> 00:33:37,720 Speaker 1: things even out over the year. And so even though 740 00:33:37,760 --> 00:33:41,040 Speaker 1: your income varies, those peaks they kind of fill in 741 00:33:41,080 --> 00:33:43,600 Speaker 1: those valleys when you stick to a certain percentage amount. 742 00:33:43,800 --> 00:33:45,440 Speaker 1: And so with you being on a W two, you know, 743 00:33:45,480 --> 00:33:47,920 Speaker 1: being on a payroll, when you are sitting aside money 744 00:33:48,080 --> 00:33:50,600 Speaker 1: to go towards retirement, you haven't chosen a specific dollar 745 00:33:50,640 --> 00:33:54,120 Speaker 1: amount necessarily, you're looking at the percentage of your income 746 00:33:54,120 --> 00:33:55,880 Speaker 1: that you're setting aside. And I will admit it's a 747 00:33:55,920 --> 00:33:58,880 Speaker 1: little bit easier when the percentage of the dollar amount 748 00:33:58,880 --> 00:34:00,800 Speaker 1: are the exact same every money. Yeah, because like you 749 00:34:00,840 --> 00:34:03,120 Speaker 1: do have a consistent dollar amount that you're earning, and 750 00:34:03,160 --> 00:34:05,680 Speaker 1: so yes, even though your focused on the percentage, the 751 00:34:05,760 --> 00:34:08,279 Speaker 1: dollar amount does happen to be the same. But you're 752 00:34:08,320 --> 00:34:11,080 Speaker 1: not looking at the dollar amount necessarily, You're looking at 753 00:34:11,120 --> 00:34:13,759 Speaker 1: the percentage, right, Yeah, yeah, exactly. Yeah. But there in 754 00:34:13,800 --> 00:34:16,480 Speaker 1: my case, as organized and sort of buy the books 755 00:34:16,480 --> 00:34:19,320 Speaker 1: as I tend to be, I've never been overly structured 756 00:34:19,360 --> 00:34:21,520 Speaker 1: when it came to the amount of money that I'm 757 00:34:21,560 --> 00:34:25,760 Speaker 1: saving and investing. Being self employed now for over a decade, 758 00:34:25,880 --> 00:34:28,800 Speaker 1: my my income has fluctuated just too much to say 759 00:34:28,840 --> 00:34:31,360 Speaker 1: that I need to save or you know what, this 760 00:34:31,440 --> 00:34:35,200 Speaker 1: year we're gonna save, because there are some lean months 761 00:34:35,200 --> 00:34:37,160 Speaker 1: that are slower where I only have enough to pay 762 00:34:37,160 --> 00:34:40,239 Speaker 1: the bills and we can't save. But the thing is, 763 00:34:40,440 --> 00:34:42,640 Speaker 1: we also will get a fat month where you know, 764 00:34:42,760 --> 00:34:45,000 Speaker 1: Kate and I will max out our RATH I RA 765 00:34:45,280 --> 00:34:47,680 Speaker 1: is completely and our savings rate that month is just 766 00:34:47,680 --> 00:34:51,319 Speaker 1: way higher than we could ever consistently maintain. So I've 767 00:34:51,360 --> 00:34:53,320 Speaker 1: never had a four O one K with a predictable 768 00:34:53,360 --> 00:34:57,680 Speaker 1: employer match that offered that consistency. When you have a 769 00:34:57,800 --> 00:35:00,200 Speaker 1: variable income or when you're self employed, it's it to 770 00:35:00,239 --> 00:35:04,040 Speaker 1: be flexible in order to still successfully save money. And 771 00:35:04,040 --> 00:35:06,880 Speaker 1: so the most straightforward approach for anyone with a variable 772 00:35:06,920 --> 00:35:09,200 Speaker 1: income is to try and keep your lifestyle and check 773 00:35:09,520 --> 00:35:11,839 Speaker 1: so that even during your latest months, you can still 774 00:35:11,840 --> 00:35:14,719 Speaker 1: pay for your basics like housing, food, and other bills. Sarah, 775 00:35:14,719 --> 00:35:16,680 Speaker 1: it sounds like y'all are already doing that, so great 776 00:35:16,760 --> 00:35:19,839 Speaker 1: job there, But then during your fat months when you're 777 00:35:19,840 --> 00:35:22,440 Speaker 1: making a ton of money, make sure to prioritize your 778 00:35:22,480 --> 00:35:25,640 Speaker 1: saving and investing goals like paying down high interest at 779 00:35:26,080 --> 00:35:29,759 Speaker 1: saving for an emergency fund, and contributing towards retirement accounts 780 00:35:29,800 --> 00:35:32,279 Speaker 1: like a roth ira A. You're asking about ways to 781 00:35:32,320 --> 00:35:34,960 Speaker 1: specifically automate that savings. I don't know if there is 782 00:35:34,960 --> 00:35:36,920 Speaker 1: a way to automate it. When you have a variable 783 00:35:36,960 --> 00:35:39,880 Speaker 1: income like that, you can't replace that self discipline. You know, 784 00:35:39,960 --> 00:35:42,080 Speaker 1: you mentioned the honor system. It's you can't really get 785 00:35:42,120 --> 00:35:44,440 Speaker 1: past that. You can have systems set up in place, 786 00:35:44,640 --> 00:35:46,600 Speaker 1: but in the end, it's your money and you still 787 00:35:46,600 --> 00:35:48,360 Speaker 1: have the final say as to what you do with 788 00:35:48,400 --> 00:35:50,839 Speaker 1: that money. All right, Matt, let's talk about prioritizing fun 789 00:35:50,960 --> 00:35:53,480 Speaker 1: as well, because that's something Sarah asked about and that 790 00:35:53,600 --> 00:35:55,839 Speaker 1: she and Sean want to do well. You can have 791 00:35:55,960 --> 00:35:58,719 Speaker 1: fun with your money too. Savings goals can be fun, 792 00:35:58,840 --> 00:36:01,160 Speaker 1: and it doesn't have to be all about paying down 793 00:36:01,200 --> 00:36:03,799 Speaker 1: debt and putting money in investment accounts. It can also 794 00:36:03,840 --> 00:36:07,080 Speaker 1: be about saving up enough to buy a car that 795 00:36:07,120 --> 00:36:09,120 Speaker 1: you want in cash, or going on a vacation that 796 00:36:09,160 --> 00:36:11,680 Speaker 1: you've been dreaming of, or even just having a small 797 00:36:11,719 --> 00:36:14,879 Speaker 1: percentage of your budget dedicated towards going out to eat 798 00:36:14,960 --> 00:36:18,520 Speaker 1: at your favorite local restaurants or craft beer or craft beer. 799 00:36:18,640 --> 00:36:22,480 Speaker 1: Most definitely, there's a balance between doing these adultish things 800 00:36:22,520 --> 00:36:25,280 Speaker 1: like investing in rewarding yourself now by going on a trip, 801 00:36:25,560 --> 00:36:28,680 Speaker 1: But they both require you being intentional with your money. 802 00:36:28,960 --> 00:36:32,160 Speaker 1: And I know that varying paycheck lifestyle is not easy, 803 00:36:32,239 --> 00:36:34,600 Speaker 1: and when you have a super lean month, it can 804 00:36:34,640 --> 00:36:36,960 Speaker 1: make it tough to think about spending money on anything 805 00:36:37,000 --> 00:36:39,080 Speaker 1: except for the bare essentials. And when you have a 806 00:36:39,120 --> 00:36:41,560 Speaker 1: fat month, it can be really easy to think about 807 00:36:41,680 --> 00:36:44,400 Speaker 1: buying plane tickets to Paris. But it's that sort of 808 00:36:44,440 --> 00:36:48,920 Speaker 1: thinking that is going to destroy your long term financial outlook. 809 00:36:49,160 --> 00:36:52,200 Speaker 1: If you can prioritize that cash cushion and think about 810 00:36:52,200 --> 00:36:55,560 Speaker 1: things in percentages and be consistent along the way. You 811 00:36:55,600 --> 00:36:58,360 Speaker 1: and Shan have a bright future where you can prioritize 812 00:36:58,480 --> 00:37:02,880 Speaker 1: the fun things in life while also prioritizing saving and investing. Yes, here, 813 00:37:02,960 --> 00:37:04,720 Speaker 1: a lot of this comes down to getting your money 814 00:37:04,840 --> 00:37:08,080 Speaker 1: in order. You want to prioritize those smart things, and 815 00:37:08,120 --> 00:37:10,800 Speaker 1: that will allow you to then do those fun things 816 00:37:11,000 --> 00:37:14,160 Speaker 1: potentially forever. Yeah, it can. It really can be like 817 00:37:14,200 --> 00:37:17,040 Speaker 1: a domino effect. It just becomes so much easier to 818 00:37:17,239 --> 00:37:19,560 Speaker 1: think about spending on the fun stuff. Do you feel 819 00:37:19,560 --> 00:37:21,399 Speaker 1: like you have more freedom because you're not even close 820 00:37:21,400 --> 00:37:23,759 Speaker 1: to living paycheck to paycheck, You have more freedom and 821 00:37:23,800 --> 00:37:26,880 Speaker 1: more cash. Yeah. Building up those reserves and prioritizing the 822 00:37:27,320 --> 00:37:30,239 Speaker 1: smart things first really frees you up to have fun 823 00:37:30,320 --> 00:37:32,400 Speaker 1: as you start to knock down some of those financial 824 00:37:32,440 --> 00:37:34,719 Speaker 1: goals that you're aiming for. Nice all right, Joe, Let's 825 00:37:34,760 --> 00:37:37,760 Speaker 1: take it back to the beer Man. This episode we enjoyed. 826 00:37:38,280 --> 00:37:42,320 Speaker 1: If it's the Peaches and that's by a Cherry Street Brewing. Joel, 827 00:37:42,320 --> 00:37:44,520 Speaker 1: what did you think about this one? Man? This one 828 00:37:44,640 --> 00:37:47,239 Speaker 1: was a winner in my book. I'm a huge fan 829 00:37:47,280 --> 00:37:49,799 Speaker 1: of the band that This beer was named after there's 830 00:37:49,840 --> 00:37:52,360 Speaker 1: a song by the Avid Brothers called If It's the Beaches, 831 00:37:52,680 --> 00:37:54,360 Speaker 1: and the Avid Brothers are one of my go to 832 00:37:54,520 --> 00:37:57,160 Speaker 1: favorite bands for sure. Is that Man Joe folk style 833 00:37:57,200 --> 00:37:58,880 Speaker 1: Matt That's one of my favorite styles of music. But 834 00:37:58,960 --> 00:38:01,880 Speaker 1: this beer Man was so good. It set fruited milkshake 835 00:38:01,920 --> 00:38:03,759 Speaker 1: style of I p a. I got a little bit 836 00:38:03,800 --> 00:38:06,799 Speaker 1: of peach fuzz, a lot of peach juiciness, and it 837 00:38:06,920 --> 00:38:09,239 Speaker 1: was just so nicely balanced with a little bit of 838 00:38:09,239 --> 00:38:11,239 Speaker 1: hot presence in there as well. What does peach fuzz 839 00:38:11,320 --> 00:38:13,880 Speaker 1: tastes like? Um, I don't know. It's really hard to explain, 840 00:38:14,000 --> 00:38:15,520 Speaker 1: but I feel like you can. I feel like you 841 00:38:15,560 --> 00:38:17,759 Speaker 1: can taste it in this beer. You know what you know? 842 00:38:17,840 --> 00:38:19,440 Speaker 1: I think when you say peach fuzz, I'll tell you 843 00:38:19,440 --> 00:38:21,320 Speaker 1: a quick story. I know I interrupted you. I'm sorry, 844 00:38:21,480 --> 00:38:22,800 Speaker 1: but I couldn't help but to think of this. I 845 00:38:22,800 --> 00:38:24,760 Speaker 1: remember as a kid, once I'm in the grocery store, 846 00:38:24,840 --> 00:38:26,640 Speaker 1: I picked up a peach. It was so soft. I 847 00:38:26,640 --> 00:38:27,920 Speaker 1: was like, oh, there's so much peach fuzz, and I 848 00:38:27,960 --> 00:38:30,400 Speaker 1: rubbed against my cheek because it was so soft. But 849 00:38:30,520 --> 00:38:33,120 Speaker 1: like the peach fuzze came off into my soft skin 850 00:38:33,200 --> 00:38:35,600 Speaker 1: because I was only like six, and I had all 851 00:38:35,640 --> 00:38:37,680 Speaker 1: these tiny little spikes and it hurt like crazy, and 852 00:38:37,680 --> 00:38:39,440 Speaker 1: I was too embarrassed to tell my mom, and so 853 00:38:39,640 --> 00:38:41,359 Speaker 1: I kind of went home with the rash on my face. 854 00:38:42,200 --> 00:38:44,480 Speaker 1: That's my peach fuzz story. Good story. I like that one. 855 00:38:44,600 --> 00:38:46,600 Speaker 1: I like that one. Oh yeah, sorry. What were your 856 00:38:46,640 --> 00:38:49,480 Speaker 1: additional thoughts on the how the spirit tasted this particular 857 00:38:49,520 --> 00:38:51,880 Speaker 1: style The kind of milkshake I p a is a 858 00:38:52,000 --> 00:38:54,839 Speaker 1: new ish style. A lot of people have been attempting it, 859 00:38:55,040 --> 00:38:57,799 Speaker 1: and a lot of people have failed spectacularly. But this 860 00:38:57,840 --> 00:39:00,239 Speaker 1: beer is not even close to a failure, honestly, kind 861 00:39:00,239 --> 00:39:03,400 Speaker 1: of close to perfection. It's so dang good. Yeah, I 862 00:39:03,480 --> 00:39:05,319 Speaker 1: really enjoy this as well. Dude. You know, I don't 863 00:39:05,360 --> 00:39:08,120 Speaker 1: even like peach flavored stuff typically, right, but I love 864 00:39:08,200 --> 00:39:11,200 Speaker 1: this beer. For me, there's very little peach upfront, like 865 00:39:11,239 --> 00:39:12,960 Speaker 1: when we first kind of cracked it open and tasted it. 866 00:39:13,000 --> 00:39:16,080 Speaker 1: But as it warmed up, those peach flavors came through 867 00:39:16,120 --> 00:39:19,359 Speaker 1: For me, Like you said, it was really crazy fruity, 868 00:39:19,400 --> 00:39:22,000 Speaker 1: but for me, the standout was like the dry hot 869 00:39:22,160 --> 00:39:25,000 Speaker 1: flavors that were going on, like that bitterness. It was 870 00:39:25,000 --> 00:39:27,080 Speaker 1: almost like this ach nous on the back of my tongue. 871 00:39:27,280 --> 00:39:29,319 Speaker 1: I know that sounds weird to describe a flavor as 872 00:39:29,360 --> 00:39:32,080 Speaker 1: being a key, but that's what I tasted, and so 873 00:39:32,120 --> 00:39:33,839 Speaker 1: I'm sticking to it. Kind of like the achy feeling 874 00:39:33,880 --> 00:39:36,840 Speaker 1: you get listening to some of those Abit Brothers love songs, 875 00:39:36,880 --> 00:39:39,680 Speaker 1: like a deep, soulful yearning exactly. Yeah, I was feeling 876 00:39:39,680 --> 00:39:41,200 Speaker 1: that up but in my mouth, like and it was 877 00:39:41,239 --> 00:39:43,279 Speaker 1: because of this beer and I liked it. All right, Matt, 878 00:39:43,320 --> 00:39:45,239 Speaker 1: that's gonna do it for this episode. If you want 879 00:39:45,320 --> 00:39:47,799 Speaker 1: show notes for this episode or to find other resources 880 00:39:47,840 --> 00:39:50,719 Speaker 1: that we have available, you can check out our website 881 00:39:50,719 --> 00:39:53,320 Speaker 1: how to Money dot com. And we would really appreciate 882 00:39:53,400 --> 00:39:56,520 Speaker 1: if you were a subscriber to this podcast, So wherever 883 00:39:56,520 --> 00:39:57,840 Speaker 1: it is that you're listening, go ahead and hit that 884 00:39:57,880 --> 00:40:00,480 Speaker 1: subscribe button. So, Joel, that's gonna be it for this episode. Man, 885 00:40:00,560 --> 00:40:06,120 Speaker 1: Until next time, Best Friends Out, Best Friends Out. M