1 00:00:00,120 --> 00:00:03,040 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt, 2 00:00:03,160 --> 00:00:06,240 Speaker 1: and today we're talking about becoming your own consumer advocate 3 00:00:06,360 --> 00:00:28,520 Speaker 1: with Clark Howard. Matt usually does the bio, but I'm 4 00:00:28,520 --> 00:00:30,840 Speaker 1: going to do the honors on this episode because today 5 00:00:30,880 --> 00:00:33,320 Speaker 1: on the show, we're talking with one of my favorite 6 00:00:33,360 --> 00:00:36,320 Speaker 1: humans in the world, Clark Howard. And Clark is a 7 00:00:36,400 --> 00:00:39,159 Speaker 1: money expert with a heart of gold who hosted his 8 00:00:39,200 --> 00:00:42,120 Speaker 1: own radio show for over thirty years, and I had 9 00:00:42,120 --> 00:00:44,880 Speaker 1: the pleasure of working with him for fourteen of those years. 10 00:00:45,320 --> 00:00:48,080 Speaker 1: He is also the author of ten books, and he 11 00:00:48,120 --> 00:00:52,400 Speaker 1: continues to produce a really excellent podcast every day because 12 00:00:52,600 --> 00:00:55,880 Speaker 1: somehow he has limitless amounts of energy. But yes, some 13 00:00:55,960 --> 00:00:59,080 Speaker 1: of his more impressive accomplishments have been via the work 14 00:00:59,080 --> 00:01:02,080 Speaker 1: he spearheads and it Lanna and the surrounding communities, including 15 00:01:02,440 --> 00:01:05,880 Speaker 1: his partnership with Habitat for Humanity, his annual Clark's Christmas 16 00:01:05,959 --> 00:01:09,400 Speaker 1: Kids broadcasts, which have helped ensure that over a hundred 17 00:01:09,440 --> 00:01:13,080 Speaker 1: and fifty thousand kids in foster care received presents on 18 00:01:13,160 --> 00:01:16,720 Speaker 1: Christmas Morning that otherwise wouldn't have. So Clark, my friend, 19 00:01:16,800 --> 00:01:19,520 Speaker 1: thank you so much for joining us on the podcast today. 20 00:01:19,959 --> 00:01:22,319 Speaker 1: This is so cool. And you hear our dog is 21 00:01:22,360 --> 00:01:29,240 Speaker 1: really excited. I hear that's Churchill who's very excited. That's 22 00:01:29,480 --> 00:01:32,720 Speaker 1: one of the joys of recording at home. That's right, Clark. 23 00:01:32,800 --> 00:01:34,360 Speaker 1: We're yeah, we're so glad to have you on. It's 24 00:01:34,400 --> 00:01:37,840 Speaker 1: it's long overdue. And you know, every episode that John 25 00:01:37,920 --> 00:01:40,080 Speaker 1: I record, we have a craft beer on the show. 26 00:01:40,080 --> 00:01:43,000 Speaker 1: It's a way for us to symbolize that being smart 27 00:01:43,040 --> 00:01:45,720 Speaker 1: with your money that is not all about deprivation, right, 28 00:01:45,760 --> 00:01:47,440 Speaker 1: there's ways that you can live in the here and 29 00:01:47,520 --> 00:01:50,320 Speaker 1: now while also saving for the future and being smart 30 00:01:50,360 --> 00:01:52,840 Speaker 1: with your money. So yeah, craft beer is our sort 31 00:01:52,840 --> 00:01:55,120 Speaker 1: of splurge. What is your splurge? What is your your 32 00:01:55,160 --> 00:01:58,360 Speaker 1: craft beer equivalent that some folks might even say is 33 00:01:58,400 --> 00:02:00,640 Speaker 1: like a waste of money, but don't care. You do 34 00:02:00,640 --> 00:02:04,960 Speaker 1: it anyway. Super premium ice cream. So my deal is 35 00:02:05,640 --> 00:02:08,960 Speaker 1: I watch what I eat six days a week, and 36 00:02:09,120 --> 00:02:13,040 Speaker 1: each Sunday is what I call treat Day. And I'm 37 00:02:13,080 --> 00:02:16,959 Speaker 1: not going to waste calories on some crappy ice cream. 38 00:02:17,400 --> 00:02:22,959 Speaker 1: It's gotta be ultra high butterfact really awful for you 39 00:02:23,040 --> 00:02:27,320 Speaker 1: ice cream. And recently I was able to get my 40 00:02:27,480 --> 00:02:31,520 Speaker 1: all time favorite ice cream you can buy in a supermarket. 41 00:02:32,080 --> 00:02:35,760 Speaker 1: It's a Ben and Jerry's flavor that reappeared recently at 42 00:02:35,880 --> 00:02:42,160 Speaker 1: public supermarket and it's called vanilla caramel fudge. And for me, 43 00:02:42,280 --> 00:02:45,839 Speaker 1: you know, you will talk about this craftier that one 44 00:02:45,880 --> 00:02:48,480 Speaker 1: and how great it is and traveling to this city 45 00:02:48,560 --> 00:02:53,200 Speaker 1: or that city to be there. For me, having Ben 46 00:02:53,200 --> 00:02:58,440 Speaker 1: and Jerry's Vanilla caramel fudge is my craft beer. Okay, 47 00:02:58,440 --> 00:03:00,320 Speaker 1: So you prefer ice cream or custard, because I know 48 00:03:00,320 --> 00:03:03,120 Speaker 1: you're a custard fan too. Definitely ice cream, I mean, 49 00:03:03,160 --> 00:03:07,239 Speaker 1: custard is good. And uh, there's a place in Milwaukee 50 00:03:07,440 --> 00:03:11,840 Speaker 1: I love called Cops Custard. And then in Austin, Texas, 51 00:03:11,919 --> 00:03:17,240 Speaker 1: I love Amy's ice Cream. And as I travel around America, 52 00:03:17,600 --> 00:03:21,520 Speaker 1: I discover either local or regional ice creams that I 53 00:03:21,639 --> 00:03:26,720 Speaker 1: just gotta have Greater's ice Cream in southern Ohio, and 54 00:03:26,720 --> 00:03:29,640 Speaker 1: then I have my favorite flavors with each of them. 55 00:03:29,720 --> 00:03:32,880 Speaker 1: So the good thing I don't have to worry about hangovers. 56 00:03:33,440 --> 00:03:35,760 Speaker 1: I don't have to worry about getting behind the wheel 57 00:03:35,760 --> 00:03:39,360 Speaker 1: of a car after over eating ice cream or custard, 58 00:03:40,160 --> 00:03:43,560 Speaker 1: and I just have to worry about my belly. But 59 00:03:43,680 --> 00:03:45,360 Speaker 1: I feel like that the next thing for you, Clark, 60 00:03:45,400 --> 00:03:47,200 Speaker 1: is gonna be a Food Network show now, like you 61 00:03:47,240 --> 00:03:50,280 Speaker 1: don't have enough things? Yeah, I want to know the 62 00:03:50,360 --> 00:03:52,560 Speaker 1: history behind cops. I want to know the history behind 63 00:03:52,600 --> 00:03:55,680 Speaker 1: these different places that you've been to. You know, It's funny, 64 00:03:55,720 --> 00:03:59,800 Speaker 1: It'll be as I'm traveling, I'll last somebody and there 65 00:03:59,800 --> 00:04:03,400 Speaker 1: you usually hearing from people. You know, a guy traveling 66 00:04:03,440 --> 00:04:06,080 Speaker 1: on business, you know what nightclub they should go to 67 00:04:06,400 --> 00:04:09,160 Speaker 1: or whatever, And then I say, Hey, what's the best 68 00:04:09,240 --> 00:04:11,760 Speaker 1: ice cream in your area? And they look at me 69 00:04:11,960 --> 00:04:17,600 Speaker 1: like am I from outer space? That's awesome, Clarke. Let's 70 00:04:17,600 --> 00:04:21,599 Speaker 1: talk about your history a little bit, and it's so 71 00:04:21,680 --> 00:04:24,760 Speaker 1: much of your ethos and who you've become I feel 72 00:04:24,760 --> 00:04:27,800 Speaker 1: like revolves around something that happened to you when you 73 00:04:27,839 --> 00:04:30,400 Speaker 1: were in your freshman year at American University. It kind 74 00:04:30,400 --> 00:04:33,880 Speaker 1: of changed the way you thought about money, and so yeah, 75 00:04:34,080 --> 00:04:36,120 Speaker 1: it feels kind of like this line in the Sands 76 00:04:36,360 --> 00:04:38,600 Speaker 1: moment for you, it's like you were a different clerk 77 00:04:38,760 --> 00:04:41,280 Speaker 1: before and you're a different clerk after. So yeah, yeah, 78 00:04:41,320 --> 00:04:42,880 Speaker 1: can you tell us about that moment and what that 79 00:04:42,880 --> 00:04:45,880 Speaker 1: looked like for you? Yeah, some of it was already 80 00:04:46,000 --> 00:04:50,640 Speaker 1: in me about being thrifty, it was part of what 81 00:04:50,839 --> 00:04:53,599 Speaker 1: made me up. But it was kind of fun, and 82 00:04:53,640 --> 00:04:57,360 Speaker 1: then it became serious as could be. My dad had 83 00:04:57,440 --> 00:05:03,839 Speaker 1: worked for his father in law's business for pretty much 84 00:05:03,839 --> 00:05:07,440 Speaker 1: his whole adult life. After serving in the army during 85 00:05:07,440 --> 00:05:10,279 Speaker 1: World War Two, he came back and had married my 86 00:05:10,360 --> 00:05:13,679 Speaker 1: mom and went to work for his his father in law. 87 00:05:14,360 --> 00:05:18,440 Speaker 1: And then the decades go on and his father in 88 00:05:18,520 --> 00:05:22,120 Speaker 1: law passes away, and then his brothers in law running 89 00:05:22,160 --> 00:05:25,520 Speaker 1: the company, and they decide one day that they don't 90 00:05:25,520 --> 00:05:29,880 Speaker 1: need him anymore. And he'd been there for thirty years. 91 00:05:30,920 --> 00:05:35,480 Speaker 1: And my parents had always lived a really high end lifestyle, 92 00:05:36,320 --> 00:05:39,200 Speaker 1: and I thought that they were just rich as could be. 93 00:05:39,560 --> 00:05:41,800 Speaker 1: I mean, who knows as a teenager, but it seemed 94 00:05:41,839 --> 00:05:45,760 Speaker 1: like they were really wealthy. And I didn't even know 95 00:05:45,880 --> 00:05:48,720 Speaker 1: my dad had been fired until I came home at 96 00:05:48,720 --> 00:05:52,960 Speaker 1: Thanksgiving and there was just a terrible spirit around the 97 00:05:53,000 --> 00:05:57,560 Speaker 1: house and everybody was somber. And when I got to 98 00:05:57,920 --> 00:06:00,200 Speaker 1: dinner that first night, my dad asked me to stay 99 00:06:00,200 --> 00:06:02,039 Speaker 1: at the table after dinner, and I was like, okay, 100 00:06:02,080 --> 00:06:05,360 Speaker 1: so is it he's dying? Who knows what? And he said, 101 00:06:05,360 --> 00:06:07,640 Speaker 1: I have terrible news for you. He said, I got 102 00:06:07,680 --> 00:06:10,440 Speaker 1: fired from my job, and I started smiling year at 103 00:06:10,440 --> 00:06:13,320 Speaker 1: a year and he says, why are you smiling? And 104 00:06:13,320 --> 00:06:15,600 Speaker 1: I said, well, I thought you were dying. And at 105 00:06:15,640 --> 00:06:19,080 Speaker 1: that point he kind of laughs and he realized maybe 106 00:06:19,120 --> 00:06:23,000 Speaker 1: it wasn't is hideous a turn in his life as 107 00:06:23,000 --> 00:06:25,640 Speaker 1: he thought. And then he goes on to say, and 108 00:06:25,680 --> 00:06:27,200 Speaker 1: I don't know if there's money for you to go 109 00:06:27,240 --> 00:06:30,839 Speaker 1: back to college in January. And then I was like what, 110 00:06:31,080 --> 00:06:34,640 Speaker 1: because I didn't realize my parents spent every penny that 111 00:06:34,800 --> 00:06:38,240 Speaker 1: came in and uh, they were kind of like a look, 112 00:06:38,320 --> 00:06:41,479 Speaker 1: see at what happened with America later on, you know, 113 00:06:41,520 --> 00:06:44,840 Speaker 1: where people became real spenders and borrowers and all that. 114 00:06:45,440 --> 00:06:49,240 Speaker 1: And so I went back to college and re enrolled 115 00:06:49,320 --> 00:06:52,640 Speaker 1: as a night student. I went to a college American 116 00:06:52,760 --> 00:06:55,640 Speaker 1: you that had as many nights students, if not more 117 00:06:55,720 --> 00:06:58,719 Speaker 1: than day students. So it's pretty easy to re register 118 00:06:58,760 --> 00:07:00,800 Speaker 1: as a night student. I went and scrambled and got 119 00:07:00,839 --> 00:07:05,280 Speaker 1: a full time job. And back then, tuition was cheap 120 00:07:05,440 --> 00:07:08,680 Speaker 1: enough that I could pay my own way through. A 121 00:07:08,760 --> 00:07:12,120 Speaker 1: year of tuition was twenty four hundred dollars at a 122 00:07:12,160 --> 00:07:15,960 Speaker 1: private school. So the hundred that I had to come 123 00:07:16,040 --> 00:07:19,680 Speaker 1: up with even when dollars were more precious back then. 124 00:07:20,240 --> 00:07:22,720 Speaker 1: Was something I could do, you know, working full time, 125 00:07:22,760 --> 00:07:26,520 Speaker 1: and I paid my way through college. But I resolved 126 00:07:26,560 --> 00:07:31,520 Speaker 1: that I was never gonna allow myself ever to create 127 00:07:31,600 --> 00:07:34,960 Speaker 1: the financial insecurity my parents had created for themselves. And 128 00:07:35,040 --> 00:07:37,760 Speaker 1: they were fortunate that after a few years I got 129 00:07:37,800 --> 00:07:41,120 Speaker 1: back on their feet financially. And it was great for 130 00:07:41,160 --> 00:07:46,240 Speaker 1: me because when I finished graduate school, I made the 131 00:07:46,280 --> 00:07:49,200 Speaker 1: decision that I was going to live on every other 132 00:07:49,320 --> 00:07:53,520 Speaker 1: paycheck and that's how I lived my life, and it 133 00:07:53,600 --> 00:07:59,840 Speaker 1: was it really worked out well, knowing that I was 134 00:08:00,400 --> 00:08:04,800 Speaker 1: always building up a cushion, and when you live on 135 00:08:04,960 --> 00:08:08,600 Speaker 1: half of what you make, it means that your whole 136 00:08:08,680 --> 00:08:13,880 Speaker 1: lifestyle is under control and you never have to work 137 00:08:13,880 --> 00:08:17,520 Speaker 1: in a job you hate. You can follow what you 138 00:08:17,600 --> 00:08:22,080 Speaker 1: really want to do. And so today, obviously this is 139 00:08:22,480 --> 00:08:25,360 Speaker 1: part of the fire movement what I did, but there 140 00:08:25,480 --> 00:08:28,559 Speaker 1: was nothing like it or thought about at that time. 141 00:08:28,880 --> 00:08:33,760 Speaker 1: It was just a basic fundamental thing that I wanted 142 00:08:34,880 --> 00:08:39,920 Speaker 1: money to create security for me, not fear. That's right, 143 00:08:40,320 --> 00:08:44,720 Speaker 1: having those options available to you, right, Clark, Uh, Yeah, 144 00:08:44,760 --> 00:08:47,360 Speaker 1: And so shortly after college, you started a travel business 145 00:08:47,360 --> 00:08:52,120 Speaker 1: when you were twenty five. Actually, my path is really 146 00:08:52,679 --> 00:08:59,360 Speaker 1: uh circuitous. After graduate school, I actually started an alternative school. 147 00:09:00,200 --> 00:09:04,240 Speaker 1: It was called Career Action. And at the school we 148 00:09:04,320 --> 00:09:08,720 Speaker 1: taught people who had maybe not finished high school or 149 00:09:09,240 --> 00:09:11,400 Speaker 1: had not been able to find direction in their lives 150 00:09:11,400 --> 00:09:15,400 Speaker 1: as young adults. We got them caught up academically and 151 00:09:15,480 --> 00:09:20,400 Speaker 1: taught them workplace skills and help them find work. And 152 00:09:21,400 --> 00:09:25,439 Speaker 1: career action that I started when I was twenty three, 153 00:09:25,800 --> 00:09:29,240 Speaker 1: and then I went two years later and started my 154 00:09:29,360 --> 00:09:33,560 Speaker 1: travel agency. So remember I started with Career Action was 155 00:09:33,679 --> 00:09:37,320 Speaker 1: the alternative school I started. So then I named my 156 00:09:37,480 --> 00:09:43,240 Speaker 1: travel agency Action Travel. So action became very much common 157 00:09:43,280 --> 00:09:48,560 Speaker 1: about the interested in h and travel back then, Like like, 158 00:09:48,600 --> 00:09:50,760 Speaker 1: what made you want to start that business? Okay, that's 159 00:09:50,760 --> 00:09:53,800 Speaker 1: a wonderful question. This is not going to make any 160 00:09:53,840 --> 00:09:56,480 Speaker 1: sense to you. I mean, it explains something to you. 161 00:09:56,520 --> 00:09:59,760 Speaker 1: It's gonna be like it couldn't have been. But up 162 00:09:59,800 --> 00:10:03,000 Speaker 1: the through the nineteen seventies, going back all the way 163 00:10:03,040 --> 00:10:08,760 Speaker 1: to I guess the nineteen thirties, the government set the 164 00:10:08,920 --> 00:10:17,160 Speaker 1: prices and who could participate in several sectors of the economy, trucking, trains, telephones, 165 00:10:17,880 --> 00:10:22,200 Speaker 1: and air travel. Uh, let's say you want to fly somewhere. 166 00:10:22,240 --> 00:10:25,800 Speaker 1: You wanted to fly from New York to Chicago. The 167 00:10:25,960 --> 00:10:30,320 Speaker 1: government decided what airlines could fly the route, what time 168 00:10:30,360 --> 00:10:32,800 Speaker 1: of day they could fly, how many days a week 169 00:10:32,840 --> 00:10:35,760 Speaker 1: they could fly, how many seats the airplane could have, 170 00:10:36,400 --> 00:10:40,199 Speaker 1: and what fares could be charged. Everything was decided by 171 00:10:40,200 --> 00:10:44,440 Speaker 1: the government by an agency called the Civil Aeronautics Sport Well. 172 00:10:44,480 --> 00:10:49,000 Speaker 1: I was a big believer in free markets, and back 173 00:10:49,040 --> 00:10:53,840 Speaker 1: in the era of Jimmy Carter, he had the same 174 00:10:53,920 --> 00:10:57,920 Speaker 1: kind of feeling. So he during his presidency deregulated the trucks, 175 00:10:58,559 --> 00:11:03,400 Speaker 1: the trains, and the airplanes. And my belief was the U. S. 176 00:11:03,480 --> 00:11:08,679 Speaker 1: Economy would just take off bad pun is these sectors 177 00:11:08,720 --> 00:11:11,560 Speaker 1: of the economy opened up. So I was like, you 178 00:11:11,600 --> 00:11:15,800 Speaker 1: know what, I wanna be in on this because people 179 00:11:16,160 --> 00:11:20,040 Speaker 1: love to travel, they just never could buy airplane. And 180 00:11:20,120 --> 00:11:24,160 Speaker 1: so that's why I opened an agency and eighty one. 181 00:11:24,360 --> 00:11:27,760 Speaker 1: And sure enough I was lucky or right or both, 182 00:11:28,280 --> 00:11:33,920 Speaker 1: and the industry came alive and people started flying who 183 00:11:33,920 --> 00:11:37,760 Speaker 1: had never considered going on an airplane. And I was 184 00:11:37,800 --> 00:11:40,480 Speaker 1: in the right place at the right time. And I 185 00:11:40,520 --> 00:11:43,800 Speaker 1: opened one agency and another another another ended up with 186 00:11:43,880 --> 00:11:48,360 Speaker 1: five offices by the time I was thirty years old Wow. 187 00:11:48,400 --> 00:11:52,200 Speaker 1: But then you ended up selling that business unexpectedly just 188 00:11:52,280 --> 00:11:54,960 Speaker 1: like a year later. Right now, it's so cool, joll 189 00:11:55,960 --> 00:11:59,040 Speaker 1: you You never want to be the one trying to 190 00:11:59,040 --> 00:12:02,840 Speaker 1: sell a business. I wasn't trying to sell action travel, 191 00:12:03,200 --> 00:12:06,480 Speaker 1: but I got approached by this group of men who 192 00:12:06,480 --> 00:12:09,760 Speaker 1: had been with a travel company in Dayton, Ohio, who 193 00:12:09,880 --> 00:12:13,600 Speaker 1: were looking to uh do are called roll ups by 194 00:12:13,880 --> 00:12:17,679 Speaker 1: local agencies in different fast growing cities in the South 195 00:12:17,760 --> 00:12:22,160 Speaker 1: and the West. And they had secret shopped various agencies 196 00:12:22,160 --> 00:12:26,160 Speaker 1: and they decided that in Atlanta, I had the agency 197 00:12:26,240 --> 00:12:30,080 Speaker 1: they wanted. And so you always make more money selling 198 00:12:30,120 --> 00:12:33,800 Speaker 1: when you're not for sale. No, no, let me convince 199 00:12:33,800 --> 00:12:41,319 Speaker 1: you that I've just found it. So I sold it 200 00:12:41,559 --> 00:12:45,160 Speaker 1: and they kicked me out the door right away, and 201 00:12:45,760 --> 00:12:50,280 Speaker 1: I moved to a place called Pontevedra, Florida, and became 202 00:12:50,280 --> 00:12:54,600 Speaker 1: a beach bump without any goal or intention or anything 203 00:12:54,679 --> 00:12:57,360 Speaker 1: to work. At the end, basically achieved fire, you know, 204 00:12:57,440 --> 00:13:00,600 Speaker 1: just like you said, Clark at that point, Yeah, you're 205 00:13:00,600 --> 00:13:04,200 Speaker 1: basically hanging at the beach all day. What were those 206 00:13:04,280 --> 00:13:06,200 Speaker 1: what were those years like after you sold the business, 207 00:13:06,240 --> 00:13:08,400 Speaker 1: were you, you know, did you get bored? What were 208 00:13:08,440 --> 00:13:10,480 Speaker 1: your thoughts at that point in time in your life. 209 00:13:10,880 --> 00:13:15,800 Speaker 1: So I was pretty beat from running my business, and 210 00:13:15,880 --> 00:13:19,360 Speaker 1: at first I didn't need to do anything. I was 211 00:13:19,480 --> 00:13:24,000 Speaker 1: just really happy to have the freedom and not always 212 00:13:24,080 --> 00:13:28,240 Speaker 1: be worried about meeting payroll and expenses and dealing with 213 00:13:28,280 --> 00:13:33,160 Speaker 1: the demands of owning a business. And I remember so 214 00:13:33,280 --> 00:13:36,840 Speaker 1: clearly something that would I had become a really terrible 215 00:13:36,880 --> 00:13:39,120 Speaker 1: sleep or running my own business, and I'd wake up 216 00:13:39,160 --> 00:13:41,679 Speaker 1: with anxiety a lot of times in the middle of 217 00:13:41,679 --> 00:13:43,920 Speaker 1: the night, or wake up like four thirty or five 218 00:13:43,920 --> 00:13:46,600 Speaker 1: in the morning, couldn't go back to sleep, typical entrepreneur 219 00:13:46,720 --> 00:13:50,920 Speaker 1: kind of stuff. And the first night after I sold 220 00:13:50,960 --> 00:13:56,760 Speaker 1: the business, I slept thirteen hours. I haven't slept thirteen 221 00:13:56,800 --> 00:14:02,120 Speaker 1: hours since taking up for time. They're no kidding, And 222 00:14:02,200 --> 00:14:05,720 Speaker 1: I just had the best time. I had gotten out 223 00:14:05,720 --> 00:14:09,280 Speaker 1: of shape running a business, because you know, running a business, 224 00:14:09,320 --> 00:14:12,000 Speaker 1: it can be seven days a week, and so I 225 00:14:12,040 --> 00:14:16,520 Speaker 1: started doing buyathline stuff. I was biking a minimum twenty 226 00:14:16,559 --> 00:14:19,720 Speaker 1: miles a day and swimming a minimum two miles a day, 227 00:14:19,960 --> 00:14:22,600 Speaker 1: and so I started becoming obsessed instead of running a 228 00:14:22,640 --> 00:14:27,840 Speaker 1: business with fitness, and after a while I did start 229 00:14:27,880 --> 00:14:32,120 Speaker 1: to get bored. Truth to be told I was doing that, 230 00:14:32,240 --> 00:14:36,880 Speaker 1: And then out of nowhere, I got a call from 231 00:14:36,920 --> 00:14:40,560 Speaker 1: a radio station familiar to Joel and me. Uh then 232 00:14:40,800 --> 00:14:44,440 Speaker 1: w GST Radio asking me to be a guest one 233 00:14:44,520 --> 00:14:48,920 Speaker 1: Sunday on a weekend travel show they had. And everything 234 00:14:48,960 --> 00:14:53,960 Speaker 1: that's happened to me since in media and broadcasting and 235 00:14:54,080 --> 00:15:01,960 Speaker 1: podcasting and the websites, all that all started from one crazy, unexpected, 236 00:15:02,040 --> 00:15:06,200 Speaker 1: random guest appearance on the radio. Well, it's I mean, 237 00:15:06,240 --> 00:15:09,640 Speaker 1: it's fascinating to see how far that's taking you, especially 238 00:15:09,680 --> 00:15:12,560 Speaker 1: considering it feels like you almost lived another life previous 239 00:15:12,560 --> 00:15:15,240 Speaker 1: to this life that you're currently living. Um. I want 240 00:15:15,240 --> 00:15:17,400 Speaker 1: to ask you, like get to some other more personal 241 00:15:17,480 --> 00:15:20,160 Speaker 1: questions to just about kind of like what makes you 242 00:15:20,280 --> 00:15:22,720 Speaker 1: up when it comes to how you view money? And 243 00:15:22,960 --> 00:15:25,080 Speaker 1: some folks have called you cheap and in fact, you 244 00:15:25,120 --> 00:15:28,240 Speaker 1: actually call yourself cheap. Matt and I kind of had 245 00:15:28,240 --> 00:15:31,520 Speaker 1: debated this topic on the show before, frugal versus cheap um, 246 00:15:31,560 --> 00:15:34,280 Speaker 1: but you're like happy to say that you're the cheap 247 00:15:34,320 --> 00:15:36,920 Speaker 1: guy so um, and that you're actually willing to buy 248 00:15:36,920 --> 00:15:39,840 Speaker 1: infeor products in order to spend less money. So what 249 00:15:39,920 --> 00:15:42,520 Speaker 1: made you embrace the cheap guy? Moniker um and what 250 00:15:42,640 --> 00:15:46,160 Speaker 1: and what makes you willing to shop for the cheapest 251 00:15:46,160 --> 00:15:48,720 Speaker 1: stuff around um? And And sometimes I feel like, yeah, 252 00:15:48,760 --> 00:15:53,360 Speaker 1: you prioritize the inexpensive over um quality, right, Yeah. So 253 00:15:54,160 --> 00:15:57,360 Speaker 1: the heart of that is a lot of people feel 254 00:15:57,400 --> 00:15:59,640 Speaker 1: like they have to keep up appearances. A lot of 255 00:15:59,640 --> 00:16:02,320 Speaker 1: people think brand names are important. A lot of people 256 00:16:03,160 --> 00:16:07,720 Speaker 1: gravitate towards spending money they probably can't afford to spend 257 00:16:07,760 --> 00:16:11,200 Speaker 1: because they feel like in order to fit in, they've 258 00:16:11,240 --> 00:16:13,120 Speaker 1: got to have you know, a woman's got to have 259 00:16:13,600 --> 00:16:16,400 Speaker 1: this particular brand of this, or guy's got to have 260 00:16:16,520 --> 00:16:20,960 Speaker 1: this this other brand of that or whatever. And I 261 00:16:21,600 --> 00:16:25,400 Speaker 1: embrace the cheapness thing because the brand you should be 262 00:16:25,440 --> 00:16:30,480 Speaker 1: after is your own financial security. Not having a label 263 00:16:30,600 --> 00:16:34,120 Speaker 1: on something that you wear that somehow makes it feel 264 00:16:34,160 --> 00:16:39,800 Speaker 1: like you fit in. So for me, the reason I 265 00:16:39,800 --> 00:16:42,920 Speaker 1: I am that way is it's part of who I am. 266 00:16:42,960 --> 00:16:46,200 Speaker 1: And I also want people to understand that it's this 267 00:16:46,320 --> 00:16:48,840 Speaker 1: thing I do with kids. Whenever I used to speak 268 00:16:48,880 --> 00:16:52,880 Speaker 1: to groups of kids, I would show a picture of 269 00:16:53,160 --> 00:16:57,200 Speaker 1: a fancy house, a fancy car, and all kinds of possessions, 270 00:16:57,440 --> 00:16:59,240 Speaker 1: and I'd say that was family one, and then I'd 271 00:16:59,240 --> 00:17:01,920 Speaker 1: show another pick sure of an old, beat up car 272 00:17:02,760 --> 00:17:05,520 Speaker 1: and you know, a simple house and that kind of thing. 273 00:17:05,840 --> 00:17:08,000 Speaker 1: And I'd asked the kids, and it didn't seem to 274 00:17:08,040 --> 00:17:11,879 Speaker 1: matter if they were fifth grade or twelfth grade. I'd say, 275 00:17:11,880 --> 00:17:18,240 Speaker 1: which is the millionaire family? And almost without exception, or 276 00:17:18,280 --> 00:17:22,760 Speaker 1: nearly of kids I would talk to always said the 277 00:17:22,800 --> 00:17:25,120 Speaker 1: one with the fancy house and fancy car and all 278 00:17:25,160 --> 00:17:29,040 Speaker 1: the fancy stuff was the wealthy family. But the reality is, 279 00:17:29,760 --> 00:17:34,080 Speaker 1: possessions make you poorer. Money that you can invest and 280 00:17:34,119 --> 00:17:36,440 Speaker 1: you have and living on less than what you make 281 00:17:36,960 --> 00:17:41,320 Speaker 1: is what creates the financial security. So the whole thing 282 00:17:41,359 --> 00:17:46,359 Speaker 1: about being careful with every dollar and being excited about 283 00:17:46,840 --> 00:17:50,520 Speaker 1: a bargain I get a dollar tree. It's not a joke. 284 00:17:50,800 --> 00:17:56,080 Speaker 1: It's it's a core principle. And my brother, my oldest brother, 285 00:17:56,200 --> 00:17:58,399 Speaker 1: was giving me a hard time today because one of 286 00:17:58,440 --> 00:18:02,960 Speaker 1: the tires on our car needed air and I'm there 287 00:18:03,000 --> 00:18:07,080 Speaker 1: with a bicycle pump pumping air and the tire and 288 00:18:07,119 --> 00:18:10,399 Speaker 1: he's like, why don't you just go to the gas 289 00:18:10,440 --> 00:18:12,720 Speaker 1: station nearby it's called Gate. Why don't I go to 290 00:18:12,800 --> 00:18:15,240 Speaker 1: Gate and pump up the tire? And I'm like, it 291 00:18:15,359 --> 00:18:18,800 Speaker 1: costs a dollar, I'm not going to spend a dollar 292 00:18:19,480 --> 00:18:22,160 Speaker 1: to pump up that tire when I can do it myself, 293 00:18:22,160 --> 00:18:24,440 Speaker 1: and I'll get exercise at the same time you're getting 294 00:18:24,440 --> 00:18:29,600 Speaker 1: the exercise exactly. I feel like there's an additional benefit there, right, Clark. 295 00:18:29,640 --> 00:18:34,000 Speaker 1: I feel like your your cheapness epitomizes just the pushback 296 00:18:34,040 --> 00:18:36,640 Speaker 1: against consumer culture, right, and so for that reason, we 297 00:18:36,640 --> 00:18:40,720 Speaker 1: we certainly appreciate how you approach money. We're gonna take 298 00:18:40,720 --> 00:18:42,480 Speaker 1: a quick break, and we've got a lot more topics 299 00:18:42,480 --> 00:18:45,680 Speaker 1: that we want to get to, including becoming a consumer advocate, 300 00:18:45,680 --> 00:18:48,160 Speaker 1: and so we'll get to those topics right after this break. 301 00:18:57,920 --> 00:18:59,760 Speaker 1: We're back from the break, we're still talking with Clark. 302 00:18:59,800 --> 00:19:03,560 Speaker 1: How and uh, Clark, I feel like, if anything has 303 00:19:03,680 --> 00:19:07,480 Speaker 1: changed since you've started your radio show, since you've started 304 00:19:07,520 --> 00:19:10,920 Speaker 1: giving financial advice on the air, it's that the world 305 00:19:10,960 --> 00:19:14,879 Speaker 1: of personal finance is a whole lot more complex. So how, 306 00:19:15,000 --> 00:19:17,919 Speaker 1: in your opinion, has the arena of financial advice changed 307 00:19:18,280 --> 00:19:20,720 Speaker 1: over the decades since you really started talking about money 308 00:19:20,720 --> 00:19:25,040 Speaker 1: with Peovil. In some ways things are much much better, 309 00:19:25,840 --> 00:19:29,800 Speaker 1: and in others it's become much more difficult. So if 310 00:19:29,800 --> 00:19:34,280 Speaker 1: you go back and time, um, only the very wealthiest 311 00:19:34,320 --> 00:19:39,399 Speaker 1: among us could even buy stocks. The trading fees to 312 00:19:39,560 --> 00:19:43,119 Speaker 1: buy stocks was through the roof. It was not at 313 00:19:43,160 --> 00:19:47,159 Speaker 1: all unusual that one trade of a purchase of stock 314 00:19:47,280 --> 00:19:50,280 Speaker 1: or sale of stock would cost you four hundred dollars. 315 00:19:50,880 --> 00:19:54,639 Speaker 1: Today that trade is free or nearly so, depending on 316 00:19:54,680 --> 00:19:58,320 Speaker 1: where you go. That all really got too free because 317 00:19:58,359 --> 00:20:01,960 Speaker 1: of robin hood, which I can say a lot about anyway. 318 00:20:02,359 --> 00:20:07,160 Speaker 1: But the other thing is that if you bought what 319 00:20:06,720 --> 00:20:09,280 Speaker 1: what people bought a lot if they didn't have a 320 00:20:09,280 --> 00:20:12,239 Speaker 1: lot of money. Mutual funds, you had to pay a 321 00:20:12,320 --> 00:20:16,040 Speaker 1: giant commission, either upfront or over time, known as a 322 00:20:16,119 --> 00:20:19,640 Speaker 1: load charge. So out of every dollar you put in, 323 00:20:20,280 --> 00:20:24,320 Speaker 1: you basically were investing only ninety four cents because the 324 00:20:24,359 --> 00:20:26,680 Speaker 1: rest would be taken in commissions and you had all 325 00:20:26,720 --> 00:20:31,480 Speaker 1: the fees. So the changes that have happened with index 326 00:20:31,520 --> 00:20:35,679 Speaker 1: funds and Vanguard being the second largest financial house in 327 00:20:35,720 --> 00:20:40,040 Speaker 1: the world and all the um E t FS exchange 328 00:20:40,080 --> 00:20:43,520 Speaker 1: traded funds, all the ways that people can invest now 329 00:20:44,800 --> 00:20:50,600 Speaker 1: it's actually made it potentially much much more cost effective 330 00:20:51,200 --> 00:20:54,320 Speaker 1: and democratized it where even from the first dollar, you 331 00:20:54,320 --> 00:20:57,920 Speaker 1: can walk in a Fidelity investments office with a dollar 332 00:20:58,680 --> 00:21:02,760 Speaker 1: and open an account and buy a zero cost index 333 00:21:02,800 --> 00:21:06,480 Speaker 1: fund from Fidelity, So a lot of things are far 334 00:21:06,640 --> 00:21:11,439 Speaker 1: far better. The problem today is that a lot of us, 335 00:21:11,720 --> 00:21:17,040 Speaker 1: as investors or would be investors, take this freedom and 336 00:21:17,160 --> 00:21:20,480 Speaker 1: we put ourselves into trouble by doing a lot of 337 00:21:20,560 --> 00:21:24,320 Speaker 1: rapid fire buying and selling, doing a lot of speculating 338 00:21:24,640 --> 00:21:30,760 Speaker 1: and the rest. So we have this freedom two invest 339 00:21:31,080 --> 00:21:36,119 Speaker 1: without drama and basically at no to almost no cost, 340 00:21:36,880 --> 00:21:41,080 Speaker 1: but we tend to complicate our lives by doing a 341 00:21:41,080 --> 00:21:45,040 Speaker 1: lot of really crazy kind of speculative kind of stuff. 342 00:21:45,440 --> 00:21:47,600 Speaker 1: And I've seen it with my fifteen year old son 343 00:21:48,119 --> 00:21:54,480 Speaker 1: who's been in this stock simulation game at school that okay, 344 00:21:54,520 --> 00:21:57,960 Speaker 1: so wait a minute, he thinks a long term holding 345 00:21:58,080 --> 00:22:05,399 Speaker 1: of a stock is seven days. Uh. So that is 346 00:22:05,440 --> 00:22:09,960 Speaker 1: a situation where we we have the ability to try 347 00:22:10,000 --> 00:22:14,800 Speaker 1: to have the discipline to just put money aside, spread 348 00:22:14,880 --> 00:22:20,040 Speaker 1: it out at no to low cost, build up money 349 00:22:20,040 --> 00:22:23,919 Speaker 1: for the future. But that's boring. So a lot of 350 00:22:23,960 --> 00:22:27,560 Speaker 1: people want the drama. They want to do the crypto, 351 00:22:27,800 --> 00:22:30,919 Speaker 1: or they want to buy the latest I p O, 352 00:22:31,119 --> 00:22:33,879 Speaker 1: or they want to get into the latest meme stock 353 00:22:34,400 --> 00:22:38,439 Speaker 1: like um, what game stop or the theater chain was 354 00:22:38,480 --> 00:22:45,240 Speaker 1: a MC and so it's hard to get people focused 355 00:22:45,800 --> 00:22:50,240 Speaker 1: on just worrying about the fundamentals, which is creating financial 356 00:22:50,320 --> 00:22:53,919 Speaker 1: security for yourself, when it's so much more fun to 357 00:22:53,960 --> 00:22:57,840 Speaker 1: get on robin hood and gamify investing and buy and 358 00:22:57,880 --> 00:23:00,080 Speaker 1: sell and buy and sell and buy and sell. Know, 359 00:23:01,200 --> 00:23:03,200 Speaker 1: you know, the enemy is really who you look at 360 00:23:03,240 --> 00:23:06,560 Speaker 1: in the mirror now, where if you go back even 361 00:23:06,720 --> 00:23:10,560 Speaker 1: fifteen years ago, the enemy was the high cost of 362 00:23:10,640 --> 00:23:15,080 Speaker 1: investing that, thank goodness, now are gone. Yeah. Yeah, the 363 00:23:15,080 --> 00:23:18,120 Speaker 1: institutions exist, the structure is there for us to take 364 00:23:18,160 --> 00:23:21,160 Speaker 1: advantage of, to invest in a in a smart wise way. 365 00:23:21,240 --> 00:23:24,160 Speaker 1: But like you said, we are our own worst enemy 366 00:23:24,200 --> 00:23:27,640 Speaker 1: at this point, Clark, let's talk about consumer advocacy. That's 367 00:23:27,680 --> 00:23:29,760 Speaker 1: just a core part of the show that you've been 368 00:23:29,760 --> 00:23:32,919 Speaker 1: doing for over over thirty years. Now. Uh, there aren't 369 00:23:32,960 --> 00:23:35,679 Speaker 1: that many voices out there that speak for consumers, and 370 00:23:35,720 --> 00:23:39,320 Speaker 1: so yeah, how do you see your role in that arena? 371 00:23:39,960 --> 00:23:43,600 Speaker 1: My job is to reach and teach. I want people 372 00:23:43,640 --> 00:23:47,800 Speaker 1: to know that you and I have more power than 373 00:23:47,840 --> 00:23:52,400 Speaker 1: we give ourselves credit for. And so often I hear 374 00:23:52,480 --> 00:23:55,679 Speaker 1: from people who sound defeated when they run up against 375 00:23:55,760 --> 00:24:00,400 Speaker 1: corporate bureaucracy before they've even tried anything and and so 376 00:24:01,640 --> 00:24:04,640 Speaker 1: I want people to know that they can be their 377 00:24:04,640 --> 00:24:10,160 Speaker 1: own best advocate. And if somebody is taking advantage of them, 378 00:24:10,200 --> 00:24:13,640 Speaker 1: mistreating them, or if it's just a big, unfeeling corporate 379 00:24:13,720 --> 00:24:17,160 Speaker 1: bureaucracy that doesn't have his act together, you don't have 380 00:24:17,240 --> 00:24:20,840 Speaker 1: to take it. And there is no one playbook. You 381 00:24:20,920 --> 00:24:27,000 Speaker 1: have to be versatile to take on an organization or 382 00:24:27,040 --> 00:24:31,120 Speaker 1: a company that's not doing right by you. And so 383 00:24:31,600 --> 00:24:34,760 Speaker 1: that's why this is so important to me. You know, 384 00:24:34,840 --> 00:24:37,840 Speaker 1: so much of the common theme and what I do 385 00:24:38,640 --> 00:24:44,000 Speaker 1: is about seizing personal power and personal responsibility. That there's 386 00:24:44,080 --> 00:24:47,639 Speaker 1: so many things we can do for ourselves in a 387 00:24:47,760 --> 00:24:51,400 Speaker 1: time that it feels harder. You know, we're dealing with big, 388 00:24:51,440 --> 00:24:56,440 Speaker 1: remote organizations were generally not dealing with local people anymore, 389 00:24:57,240 --> 00:25:01,760 Speaker 1: and so it's it's harder for people to navigate, but 390 00:25:01,920 --> 00:25:05,560 Speaker 1: you sure can. Yeah, and not only Clark do you 391 00:25:05,560 --> 00:25:09,040 Speaker 1: talk about specific companies when they're doing the wrong thing 392 00:25:09,240 --> 00:25:13,080 Speaker 1: by consumers um. But you're also passionate about empowering people 393 00:25:13,119 --> 00:25:16,200 Speaker 1: to solve their own problems. You want to help folks 394 00:25:16,240 --> 00:25:19,199 Speaker 1: be able to advocate for themselves. So, in your opinion, 395 00:25:19,200 --> 00:25:21,600 Speaker 1: what is it that prevents people from advocating on their 396 00:25:21,640 --> 00:25:23,520 Speaker 1: own behalf most of the time. And then you know, 397 00:25:23,600 --> 00:25:26,480 Speaker 1: what are some maybe specific ways that we can stick 398 00:25:26,560 --> 00:25:29,320 Speaker 1: up for ourselves more, especially as we're dealing with more 399 00:25:29,359 --> 00:25:33,800 Speaker 1: like nameless, faceless companies. Sure, I mean a lot of 400 00:25:33,840 --> 00:25:36,879 Speaker 1: it is there's a lot of alienation in society that 401 00:25:37,000 --> 00:25:40,679 Speaker 1: people feel like the deck is stacked against them and 402 00:25:40,720 --> 00:25:45,440 Speaker 1: why would they even try? And yeah, there's obviously always 403 00:25:45,440 --> 00:25:50,680 Speaker 1: throughout human history been on fairness. It's just how that manifests. 404 00:25:50,720 --> 00:25:57,280 Speaker 1: And today the equalizer is a company's reputation. It used 405 00:25:57,320 --> 00:25:59,480 Speaker 1: to be that if you had a problem with a company, 406 00:26:00,680 --> 00:26:04,560 Speaker 1: nobody else would ever know. But today one of the 407 00:26:04,640 --> 00:26:11,520 Speaker 1: greatest powers you have is the combination of humor, brevity, 408 00:26:11,680 --> 00:26:17,240 Speaker 1: and social media. I think back years ago, the first 409 00:26:17,960 --> 00:26:22,640 Speaker 1: clear eureka moment where I really realized the power of 410 00:26:22,680 --> 00:26:26,919 Speaker 1: those three things together was something before social media was 411 00:26:27,000 --> 00:26:33,280 Speaker 1: particularly prominent, was something called United Breaks Guitars and Joel 412 00:26:33,840 --> 00:26:37,240 Speaker 1: you may remember that, remember that video for sure. Yeah, 413 00:26:37,520 --> 00:26:41,240 Speaker 1: So this guy who was a Canadian musician was flying 414 00:26:41,240 --> 00:26:45,879 Speaker 1: on United Airlines and they broke his treasured guitar that 415 00:26:46,000 --> 00:26:49,120 Speaker 1: he was supposed to use performing, and United told him 416 00:26:49,119 --> 00:26:54,280 Speaker 1: to pound sand and so he had tried to deal 417 00:26:54,359 --> 00:26:59,919 Speaker 1: with United unfeeling uncaring bureaucracy and came up, uh, you know, 418 00:27:00,320 --> 00:27:05,240 Speaker 1: zero in response. And so then he wrote and sang 419 00:27:05,800 --> 00:27:09,480 Speaker 1: and posted on YouTube a very clever video that had 420 00:27:09,600 --> 00:27:14,640 Speaker 1: humor about United breaking his guitar. And that, for me 421 00:27:15,040 --> 00:27:19,880 Speaker 1: was a key understanding how you get these big corporations 422 00:27:20,119 --> 00:27:24,399 Speaker 1: to respond, because United, that had done nothing for six 423 00:27:24,520 --> 00:27:29,480 Speaker 1: weeks suddenly fell all over themselves making it right and 424 00:27:29,520 --> 00:27:34,840 Speaker 1: getting this Canadian singer a new guitar. And that's when 425 00:27:34,840 --> 00:27:39,600 Speaker 1: I realized that social media, with all its goods and bads, 426 00:27:40,600 --> 00:27:44,680 Speaker 1: is one of the most effective tools when a company 427 00:27:44,760 --> 00:27:48,359 Speaker 1: is treating like dirt to get the word out there. 428 00:27:49,119 --> 00:27:52,680 Speaker 1: And again, what was the second thing I said? Brevity. 429 00:27:53,160 --> 00:27:58,600 Speaker 1: If you start writing seven hundred page novel about what 430 00:27:58,720 --> 00:28:01,800 Speaker 1: happened to you, he's gonna read it, and the people 431 00:28:01,840 --> 00:28:04,160 Speaker 1: who start reading it are all just going to decide 432 00:28:04,240 --> 00:28:08,680 Speaker 1: you're the problem and you're crazy, right, right, So humor 433 00:28:08,720 --> 00:28:15,920 Speaker 1: and a short, short explanation about what's wrong and key 434 00:28:15,960 --> 00:28:20,800 Speaker 1: what you want to make it right. Nobody um gets 435 00:28:20,800 --> 00:28:25,560 Speaker 1: excited about hearing about your complaint and going on and 436 00:28:25,600 --> 00:28:28,800 Speaker 1: on and whining about what happened what's key is to 437 00:28:29,000 --> 00:28:33,359 Speaker 1: state your case and what you want to make it right, 438 00:28:33,640 --> 00:28:36,200 Speaker 1: and don't be ridiculous, and what you want to make 439 00:28:36,200 --> 00:28:40,160 Speaker 1: it right, be reasonable and that will get results on 440 00:28:40,280 --> 00:28:43,120 Speaker 1: my own personal airplane United, That's what I want. Yeah, 441 00:28:43,400 --> 00:28:49,440 Speaker 1: how about that my old guitar? Yeah. Yeah. A part 442 00:28:49,480 --> 00:28:53,120 Speaker 1: of consumer advocacy certainly is this holding companies accountable for 443 00:28:53,240 --> 00:28:56,120 Speaker 1: when they misbehave and whatnot. But it's also about just 444 00:28:56,400 --> 00:28:59,040 Speaker 1: finding the folks who are who are praying on you, right, 445 00:28:59,080 --> 00:29:01,240 Speaker 1: like folks who are going after you. You talk about 446 00:29:01,280 --> 00:29:03,959 Speaker 1: scams a good bit on your show. Uh yeah, So 447 00:29:04,000 --> 00:29:07,160 Speaker 1: how have you seen those evolve over the years in 448 00:29:07,200 --> 00:29:10,920 Speaker 1: sophistication and specific to today as more folks are kind 449 00:29:10,920 --> 00:29:13,200 Speaker 1: of re emerging from their homes and kind of re 450 00:29:13,400 --> 00:29:17,000 Speaker 1: entering society, have you seen scams take another form? You know, 451 00:29:17,040 --> 00:29:20,640 Speaker 1: in the recent sixteen months or so, You know, scams 452 00:29:20,640 --> 00:29:25,320 Speaker 1: have only the vehicle of transmitting them has changed and 453 00:29:25,360 --> 00:29:30,280 Speaker 1: then and some of the cons have what they pose 454 00:29:30,400 --> 00:29:34,960 Speaker 1: has changed, but the core of what makes a scam 455 00:29:35,080 --> 00:29:39,320 Speaker 1: has never changed in the nearly thirty five years I've 456 00:29:39,360 --> 00:29:44,800 Speaker 1: been doing this. So you have situations that involved potentially 457 00:29:44,920 --> 00:29:48,280 Speaker 1: greed that come forward with the scam Hey I got 458 00:29:48,360 --> 00:29:50,160 Speaker 1: something for you. This is a great dealing you got 459 00:29:50,360 --> 00:29:52,040 Speaker 1: you can't tell anybody about, but you gotta do it 460 00:29:52,160 --> 00:29:57,040 Speaker 1: right now. That's not as common as the scams that 461 00:29:57,840 --> 00:30:01,840 Speaker 1: pretend that you must act to meet ly or terrible 462 00:30:01,920 --> 00:30:04,960 Speaker 1: things are going to happen to you, like the fake 463 00:30:05,040 --> 00:30:10,520 Speaker 1: fraud alerts and the notices from the pretextings where we 464 00:30:10,560 --> 00:30:14,800 Speaker 1: get uh text or email or whatever pretending to be 465 00:30:14,920 --> 00:30:18,920 Speaker 1: from an organization we do business with trying to verify something. Lately, 466 00:30:18,960 --> 00:30:22,800 Speaker 1: there's been the very prominent one with Amazon where they 467 00:30:22,840 --> 00:30:25,760 Speaker 1: say your shipment is coming blah blah blah, and you're like, 468 00:30:25,800 --> 00:30:29,000 Speaker 1: I didn't order that, We'll just click here, and before 469 00:30:29,040 --> 00:30:32,160 Speaker 1: you know it, you've given your Amazon credentials to a 470 00:30:32,240 --> 00:30:35,120 Speaker 1: crook who then is buying stuff as if they're you. 471 00:30:35,640 --> 00:30:40,239 Speaker 1: So the sense of urgency aspect and the fact that 472 00:30:40,280 --> 00:30:43,080 Speaker 1: we're doing most of this on our phones and we're 473 00:30:43,160 --> 00:30:46,320 Speaker 1: distracted at the same time, we tend to be more 474 00:30:46,520 --> 00:30:50,800 Speaker 1: likely to not keep our guard up, click on something 475 00:30:51,600 --> 00:30:55,760 Speaker 1: and create the web of troubles that follow. Yeah, there 476 00:30:56,000 --> 00:30:59,280 Speaker 1: were some recent stats to clark about how younger folks 477 00:30:59,320 --> 00:31:01,760 Speaker 1: are now we're susceptible to scams, like so many the 478 00:31:01,800 --> 00:31:04,600 Speaker 1: digital scams that are taking place. So I think for 479 00:31:04,600 --> 00:31:07,720 Speaker 1: for a time it was assumed that, well, it's only 480 00:31:07,720 --> 00:31:10,280 Speaker 1: people in their sixties, seventies, and eighties that are falling 481 00:31:10,280 --> 00:31:12,040 Speaker 1: for some of these scams, but now really it's a 482 00:31:12,040 --> 00:31:13,960 Speaker 1: lot of twenty somethings and thirty some things that are 483 00:31:14,000 --> 00:31:17,600 Speaker 1: falling falling victim to scams on Twitter or scams in 484 00:31:17,600 --> 00:31:21,280 Speaker 1: their email. They're they're they're getting better at targeting a 485 00:31:21,280 --> 00:31:24,040 Speaker 1: younger audience that is more likely to click on something 486 00:31:24,080 --> 00:31:28,480 Speaker 1: like that. And that's because if you watch somebody and 487 00:31:28,920 --> 00:31:32,120 Speaker 1: watch it any place you're at, it could be a restaurant, 488 00:31:32,600 --> 00:31:35,080 Speaker 1: it could be at a red light, anywhere you are, 489 00:31:35,600 --> 00:31:40,040 Speaker 1: you'll see that the cell phone is forever present in 490 00:31:40,120 --> 00:31:45,120 Speaker 1: front of the eyeballs of every person under age thirty five, 491 00:31:45,240 --> 00:31:51,560 Speaker 1: almost without exception. And so that's much more common with 492 00:31:51,640 --> 00:31:54,680 Speaker 1: people under thirty five than it is, particularly with people 493 00:31:55,200 --> 00:31:59,400 Speaker 1: over fifty. And so scams so heavily used to target 494 00:32:00,080 --> 00:32:04,920 Speaker 1: people that were elderly, but today, because of the cell 495 00:32:04,960 --> 00:32:10,280 Speaker 1: phone always being engaged, that's why it's moved so heavily 496 00:32:10,320 --> 00:32:13,400 Speaker 1: to people that are younger. Yeah, alright, Clark, we got 497 00:32:13,480 --> 00:32:15,760 Speaker 1: a few more questions to get to, including we want 498 00:32:15,800 --> 00:32:18,560 Speaker 1: to talk about travel. Since you are the travel guru, 499 00:32:18,600 --> 00:32:20,560 Speaker 1: We've got a few questions about saving money on travel, 500 00:32:20,680 --> 00:32:23,280 Speaker 1: especially as more and more people want to travel. We'll 501 00:32:23,280 --> 00:32:25,560 Speaker 1: we'll get to that and a few more questions right 502 00:32:25,600 --> 00:32:37,200 Speaker 1: after this break. All right, we're talking with Clark. Howard 503 00:32:37,440 --> 00:32:39,960 Speaker 1: and Clark, We've got a question for you about sort 504 00:32:39,960 --> 00:32:42,920 Speaker 1: of the cultural view, I guess of of money here 505 00:32:42,920 --> 00:32:44,760 Speaker 1: in the United States. You know, we live in the 506 00:32:44,840 --> 00:32:48,600 Speaker 1: richest country in like the history of the world, but 507 00:32:48,680 --> 00:32:51,840 Speaker 1: even still a huge swath of the population is just 508 00:32:51,920 --> 00:32:56,520 Speaker 1: loaded up with debt and savings rates are also pretty paltry. 509 00:32:57,080 --> 00:32:59,840 Speaker 1: But that has also changed a bit recently. Why do 510 00:32:59,840 --> 00:33:01,840 Speaker 1: you think that is, like, what do you think is 511 00:33:01,880 --> 00:33:05,080 Speaker 1: going to cause this change in the population in the 512 00:33:05,120 --> 00:33:09,040 Speaker 1: United States. Well, there's a segment of Americans who really 513 00:33:09,120 --> 00:33:13,400 Speaker 1: are just flat out struggling. And it's not because they're 514 00:33:13,480 --> 00:33:16,920 Speaker 1: crazy with their money. They don't make enough and come 515 00:33:17,640 --> 00:33:23,719 Speaker 1: and so you may have of Americans that are wheezing 516 00:33:24,280 --> 00:33:28,000 Speaker 1: because their work is irregular or what they make per 517 00:33:28,040 --> 00:33:34,360 Speaker 1: hours too small, and so for people in roughly that 518 00:33:34,480 --> 00:33:39,120 Speaker 1: one in five of American adults hopefully in the future, 519 00:33:39,720 --> 00:33:43,520 Speaker 1: it looks like base pay rates are gonna rise, and 520 00:33:43,600 --> 00:33:46,520 Speaker 1: that will be a big help to that segment of 521 00:33:46,560 --> 00:33:49,600 Speaker 1: the population. You see it all around as you go 522 00:33:50,440 --> 00:33:55,080 Speaker 1: is stores, restaurants, businesses that you can see they're posted 523 00:33:55,480 --> 00:34:00,160 Speaker 1: wage rates, they're raising those rates. They're offering benefits they 524 00:34:00,160 --> 00:34:05,320 Speaker 1: haven't offered before, and there will be a big societal 525 00:34:05,400 --> 00:34:09,560 Speaker 1: benefit if that trend holds. But that's only roughly one 526 00:34:09,600 --> 00:34:14,279 Speaker 1: in five Americans. If you look at people from UH 527 00:34:15,360 --> 00:34:19,240 Speaker 1: of income on up to eight of income of the country, 528 00:34:19,280 --> 00:34:23,440 Speaker 1: you know, not the top of earners, not the bottom. 529 00:34:23,520 --> 00:34:28,560 Speaker 1: It is overwhelmingly lifestyle choices that have gotten people in 530 00:34:28,680 --> 00:34:33,440 Speaker 1: over their heads with finance. And it's so easy now 531 00:34:33,840 --> 00:34:39,280 Speaker 1: because credit is so widely available, and I have a 532 00:34:39,360 --> 00:34:44,080 Speaker 1: strong belief that the ability to pay for things electronically 533 00:34:44,200 --> 00:34:47,560 Speaker 1: like with our phones or use a credit card, debit card, 534 00:34:47,600 --> 00:34:51,520 Speaker 1: store value card, whatever, that we don't feel the spending 535 00:34:52,480 --> 00:34:56,080 Speaker 1: the way prior generations did when they'd have to pull 536 00:34:56,120 --> 00:35:00,759 Speaker 1: out actual cash. And so I think that has been 537 00:35:00,880 --> 00:35:05,840 Speaker 1: for roughly sixty of the American people. The big problem 538 00:35:05,920 --> 00:35:11,880 Speaker 1: the ready access to seemingly unlimited amounts of credit and 539 00:35:12,080 --> 00:35:16,680 Speaker 1: the fact that we don't feel the spending as we spend. 540 00:35:17,440 --> 00:35:19,359 Speaker 1: So Clark, I want to ask you about lifestyle creep then, 541 00:35:19,719 --> 00:35:22,279 Speaker 1: because for some of those people, I agree. I think 542 00:35:22,360 --> 00:35:25,000 Speaker 1: that the lack of physical attachment to the money that 543 00:35:25,000 --> 00:35:28,240 Speaker 1: you're spending sometimes makes us spend a little more freely. 544 00:35:28,320 --> 00:35:30,239 Speaker 1: And then we're like, when we get the credit card bill, 545 00:35:30,280 --> 00:35:32,080 Speaker 1: we're like, oh, man, I didn't realize it was going 546 00:35:32,120 --> 00:35:34,640 Speaker 1: to be that high. But um, yeah, when we're talking 547 00:35:34,719 --> 00:35:38,240 Speaker 1: about inflating our lifestyles, when is it okay in your opinion? 548 00:35:38,520 --> 00:35:41,319 Speaker 1: And when is it not okay? How should people think 549 00:35:41,360 --> 00:35:44,319 Speaker 1: about um as they get a pay increase or um 550 00:35:44,360 --> 00:35:48,399 Speaker 1: as their financial situation does improve, Like, how much of 551 00:35:48,440 --> 00:35:52,320 Speaker 1: that increase should be funneled towards actually increasing their lifestyle versus, 552 00:35:52,440 --> 00:35:56,120 Speaker 1: you know, saving or investing more. Yeah, wonderful question because 553 00:35:56,880 --> 00:35:59,800 Speaker 1: there is no one right answer to this, but miably 554 00:36:00,440 --> 00:36:03,879 Speaker 1: is that it starts with putting aside a big chunk 555 00:36:03,920 --> 00:36:06,560 Speaker 1: of your money first, and then what you do with 556 00:36:06,600 --> 00:36:09,000 Speaker 1: the rest of your money, even if it gets kind 557 00:36:09,000 --> 00:36:13,680 Speaker 1: of foolish, as long as you start by saving a 558 00:36:13,719 --> 00:36:18,560 Speaker 1: significant portion of what you make, you are setting yourself 559 00:36:18,640 --> 00:36:21,399 Speaker 1: up for success instead of failure. And as your pay 560 00:36:21,480 --> 00:36:24,520 Speaker 1: rate goes up and you're saving a set percent of 561 00:36:24,560 --> 00:36:27,759 Speaker 1: your pay, you're the amount you're putting aside living on 562 00:36:27,920 --> 00:36:30,839 Speaker 1: less than when you make goes up to and i'd 563 00:36:30,880 --> 00:36:37,719 Speaker 1: say today because we overwhelmingly don't have pensions, that if 564 00:36:37,800 --> 00:36:40,560 Speaker 1: you want to have real comfort in your life, you 565 00:36:40,640 --> 00:36:44,080 Speaker 1: need to save twenty cents of every dollar you make 566 00:36:44,760 --> 00:36:48,520 Speaker 1: to create real financial security. And over the years, I've 567 00:36:48,560 --> 00:36:51,840 Speaker 1: said a dime of every dollar, and that's the base 568 00:36:51,960 --> 00:36:56,759 Speaker 1: case that you condition your life where you're living on 569 00:36:56,960 --> 00:36:59,719 Speaker 1: nineties cents of every dollar. But if you really want 570 00:36:59,719 --> 00:37:03,960 Speaker 1: to create comfort, and especially as you progress hopefully income 571 00:37:04,000 --> 00:37:07,560 Speaker 1: wise over your lifetime, you want to get it to 572 00:37:07,640 --> 00:37:11,239 Speaker 1: that twenty cents on the dollar, and then beyond that, 573 00:37:11,800 --> 00:37:14,359 Speaker 1: if you want to do whatever crazy with the other 574 00:37:14,440 --> 00:37:18,520 Speaker 1: eight cents, go for it. It feel like that takes 575 00:37:18,520 --> 00:37:22,600 Speaker 1: a lot of the decision making out of those moments 576 00:37:22,600 --> 00:37:24,280 Speaker 1: where you're like, oh, should we buy this or should 577 00:37:24,280 --> 00:37:26,640 Speaker 1: we not? Like, is this one area in life where 578 00:37:26,640 --> 00:37:28,400 Speaker 1: we can splurge a little bit more? Well, if it 579 00:37:28,400 --> 00:37:31,439 Speaker 1: fits within that, then it's not a question of whether 580 00:37:31,520 --> 00:37:33,120 Speaker 1: or not that's something you should or shouldn't do. It's 581 00:37:33,120 --> 00:37:35,719 Speaker 1: just a matter of do I like that am I 582 00:37:35,719 --> 00:37:38,560 Speaker 1: going to prioritize that. Stop from the handwringing, I guess exactly? 583 00:37:38,800 --> 00:37:42,319 Speaker 1: Does that sound fun? But Clark, I love that. Uh. 584 00:37:42,480 --> 00:37:44,440 Speaker 1: We also wanted to get back to travel for a minute. 585 00:37:44,840 --> 00:37:47,920 Speaker 1: You've traveled a ton of your life. Used to work 586 00:37:47,920 --> 00:37:50,279 Speaker 1: in the business, but so much has changed since you 587 00:37:50,760 --> 00:37:53,279 Speaker 1: owned you know, your own travel agency. Now folks can 588 00:37:53,280 --> 00:37:55,520 Speaker 1: book their own travel. They can do it pretty cheaply. 589 00:37:55,600 --> 00:37:58,440 Speaker 1: You can use Google flights. What are your best tips 590 00:37:58,840 --> 00:38:02,279 Speaker 1: for folks who to see the world without spending a 591 00:38:02,320 --> 00:38:06,239 Speaker 1: ton of money. We're going back to, at least for 592 00:38:06,280 --> 00:38:11,279 Speaker 1: the next year, two very historical patterns of peak and 593 00:38:11,360 --> 00:38:15,560 Speaker 1: off peak pricing. People that are trying to travel right now. 594 00:38:15,880 --> 00:38:19,000 Speaker 1: There was so much pent up demand from the time 595 00:38:19,040 --> 00:38:23,880 Speaker 1: period we were locked down during the pandemic that prices 596 00:38:24,000 --> 00:38:32,000 Speaker 1: for everything hotels, airbnbs, car rentals, flights are unbelievably high, 597 00:38:32,400 --> 00:38:36,520 Speaker 1: and so July and August if you care about money, 598 00:38:36,680 --> 00:38:40,600 Speaker 1: and the first half of September sit it out. Sit 599 00:38:40,680 --> 00:38:44,240 Speaker 1: out these next two months, and then in the fall 600 00:38:45,320 --> 00:38:48,480 Speaker 1: that's when the deals are starting to reappear. A lot 601 00:38:48,520 --> 00:38:52,120 Speaker 1: of people um benefit from kids being back at school 602 00:38:53,000 --> 00:38:55,920 Speaker 1: and travel demand drops a lot in the fall, and 603 00:38:55,920 --> 00:38:59,680 Speaker 1: so we're gonna have great opportunities to travel now through 604 00:38:59,800 --> 00:39:03,480 Speaker 1: mar Arch of next year, except right around Thanksgiving and 605 00:39:03,480 --> 00:39:07,439 Speaker 1: and right around Christmas. And the absolute bargains this year 606 00:39:08,000 --> 00:39:12,000 Speaker 1: also have gone to historical patterns, and that is the 607 00:39:12,120 --> 00:39:16,080 Speaker 1: first two weeks of December right after Thanksgiving and again 608 00:39:16,640 --> 00:39:21,239 Speaker 1: January right after the end of the Christmas New Year's 609 00:39:21,239 --> 00:39:26,200 Speaker 1: holiday period. Prices looking right now are so cheap, I 610 00:39:26,320 --> 00:39:30,120 Speaker 1: can't believe it. And Clark so off peak. And the 611 00:39:30,320 --> 00:39:32,400 Speaker 1: time that you travel like that, specific days that you 612 00:39:32,440 --> 00:39:34,880 Speaker 1: travel and being flexible with those days, those are obviously 613 00:39:35,040 --> 00:39:37,760 Speaker 1: ways to to save more money when you're going somewhere. 614 00:39:38,239 --> 00:39:40,840 Speaker 1: What about specific websites? Do you have, like some specific 615 00:39:40,880 --> 00:39:43,600 Speaker 1: sites to your favorites when it comes to saving money 616 00:39:43,640 --> 00:39:47,719 Speaker 1: on lodging or the all expensive car rental right now, like, yeah, 617 00:39:47,760 --> 00:39:49,640 Speaker 1: what are some of your favorite sites to use? All right, well, 618 00:39:49,680 --> 00:39:51,880 Speaker 1: let's go with the car rental for a second, because 619 00:39:52,400 --> 00:39:55,080 Speaker 1: this is the oddest part of what's been going on. 620 00:39:55,560 --> 00:39:58,920 Speaker 1: The car rental fleets were purged last year when the 621 00:39:59,040 --> 00:40:01,439 Speaker 1: car rental agency is we're just trying to hang on. 622 00:40:01,840 --> 00:40:05,319 Speaker 1: Hurts went through bankruptcy, the others barely avoided it and 623 00:40:05,360 --> 00:40:10,360 Speaker 1: they were able to survive by selling off their vehicle fleets. Well, 624 00:40:10,480 --> 00:40:13,560 Speaker 1: now they're way short of vehicles, just as travel as 625 00:40:13,760 --> 00:40:16,160 Speaker 1: come back to life, So you have to turn the 626 00:40:16,200 --> 00:40:20,759 Speaker 1: whole thing upside down. And before you book nonrefundable air, 627 00:40:20,840 --> 00:40:24,160 Speaker 1: before you book any hotel, make sure you can afford 628 00:40:24,200 --> 00:40:28,200 Speaker 1: the car rental if you're gonna need one, and you 629 00:40:28,280 --> 00:40:31,920 Speaker 1: can try things like rental cars dot Com if your 630 00:40:32,000 --> 00:40:35,560 Speaker 1: costc member. Cost Go Travel offers some of the best 631 00:40:35,719 --> 00:40:39,319 Speaker 1: rates on car rentals. But also right now, with the 632 00:40:39,440 --> 00:40:42,720 Speaker 1: shortage of car rentals is so severe, you should try 633 00:40:42,760 --> 00:40:48,360 Speaker 1: things like turo, where it's like Airbnb for cars, where 634 00:40:48,400 --> 00:40:53,239 Speaker 1: you borrow at a daily cost somebody else's wheels as 635 00:40:53,239 --> 00:40:57,240 Speaker 1: a way to save money, but always start with the car. 636 00:40:57,920 --> 00:41:01,320 Speaker 1: Um I have a trip to California in a couple 637 00:41:01,360 --> 00:41:04,680 Speaker 1: of weeks and the car rental at l a X 638 00:41:05,040 --> 00:41:07,560 Speaker 1: the cheapest I could find, believe it or not, was 639 00:41:07,680 --> 00:41:12,520 Speaker 1: two hundred ninety dollars a day, so I instead booked 640 00:41:12,520 --> 00:41:15,279 Speaker 1: a flight into Burbank, where I was able to get 641 00:41:15,280 --> 00:41:17,640 Speaker 1: a car for sixty five a day. I didn't want 642 00:41:17,680 --> 00:41:20,920 Speaker 1: to pay sixty five, but it was so much cheaper 643 00:41:21,440 --> 00:41:24,920 Speaker 1: than it controlled where I flew into and that is 644 00:41:24,960 --> 00:41:28,400 Speaker 1: so not normal. Right, Usually the price, not the airfare, 645 00:41:28,520 --> 00:41:31,960 Speaker 1: is the most important factor, and like the the pressure 646 00:41:31,960 --> 00:41:33,920 Speaker 1: you're gonna pay for that car rental is negligible. But 647 00:41:34,080 --> 00:41:37,520 Speaker 1: in in today, in today's market, that's not true, Like 648 00:41:37,560 --> 00:41:39,600 Speaker 1: the car is the most important factor in the tail's 649 00:41:39,640 --> 00:41:42,440 Speaker 1: kind of whacking the dog at this point. Yeah, hotels, 650 00:41:42,640 --> 00:41:46,200 Speaker 1: I should tell you a key tip on hotels. Hotels 651 00:41:46,520 --> 00:41:50,680 Speaker 1: in cities that have a lot of business travel and conventions, 652 00:41:51,400 --> 00:41:56,440 Speaker 1: hotels are still ridiculously cheap. And the weird thing is 653 00:41:56,480 --> 00:42:00,080 Speaker 1: that hotels in the suburb of a big city on 654 00:42:00,160 --> 00:42:04,799 Speaker 1: a freeway now in most cities cost double what a 655 00:42:04,880 --> 00:42:10,840 Speaker 1: big in town convention hotel or business travelers hotel we cost. Okay, 656 00:42:10,880 --> 00:42:13,400 Speaker 1: all right, that's good to know. And uh, Clark, you 657 00:42:13,719 --> 00:42:16,200 Speaker 1: recently you actually like just got back from a cruise, right, 658 00:42:16,280 --> 00:42:19,399 Speaker 1: so what's your take on on one people getting back 659 00:42:19,440 --> 00:42:21,640 Speaker 1: to cruising? Is that a smart way to go to? 660 00:42:21,640 --> 00:42:24,200 Speaker 1: How normal did it feel? And then yeah, are there 661 00:42:24,239 --> 00:42:26,279 Speaker 1: a lot of deals to be had if you Yeah, 662 00:42:26,320 --> 00:42:27,640 Speaker 1: if you want to get back out there, if you're 663 00:42:27,640 --> 00:42:29,920 Speaker 1: into cruising and you're itching to go again, is like 664 00:42:30,000 --> 00:42:33,160 Speaker 1: now the time to book one, so it was completely abnormal. 665 00:42:33,280 --> 00:42:36,360 Speaker 1: I went on the first cruise to leave a US 666 00:42:36,480 --> 00:42:41,640 Speaker 1: ports since coronavirus March of last year, and the requirement 667 00:42:41,680 --> 00:42:44,399 Speaker 1: of the cruise line, which was Celebrity, was you had 668 00:42:44,400 --> 00:42:48,479 Speaker 1: to be a faxed second shot plus two weeks out 669 00:42:49,160 --> 00:42:51,160 Speaker 1: to go on the cruise unless you were a kid 670 00:42:51,239 --> 00:42:54,719 Speaker 1: under twelve, and they limited the number of children to 671 00:42:54,840 --> 00:42:59,120 Speaker 1: be just very few, so that at a minimum nine 672 00:42:59,600 --> 00:43:02,440 Speaker 1: of the path messengers and the crew would be vaccinated. 673 00:43:02,800 --> 00:43:06,600 Speaker 1: It was crazy because it was the safest environment I've 674 00:43:06,680 --> 00:43:11,840 Speaker 1: been in since March of last year. They also safer 675 00:43:11,880 --> 00:43:15,399 Speaker 1: than going to a grocery store right now, Yeah, that's 676 00:43:16,000 --> 00:43:19,759 Speaker 1: and they only book thirty six percent of capacity, so 677 00:43:19,880 --> 00:43:22,480 Speaker 1: there were very few people on the ship, which meant 678 00:43:22,480 --> 00:43:24,680 Speaker 1: it was the nicest cruise I'll ever be on in 679 00:43:24,719 --> 00:43:29,960 Speaker 1: my own life because there were so few people. Everything 680 00:43:30,040 --> 00:43:33,719 Speaker 1: was available and it was It was absolutely wonderful. But 681 00:43:33,840 --> 00:43:37,640 Speaker 1: if you're looking to book cruises um, a lot of 682 00:43:37,680 --> 00:43:41,160 Speaker 1: the early bookings are by people that are cruise addicts 683 00:43:41,400 --> 00:43:45,840 Speaker 1: who need to have their fix and they're rushing to book, 684 00:43:46,480 --> 00:43:49,040 Speaker 1: and you're gonna find that if you look further out 685 00:43:49,080 --> 00:43:53,440 Speaker 1: on the calendar, you're gonna see better deals on cruises 686 00:43:53,960 --> 00:43:56,680 Speaker 1: then you're gonna see and the ones, the small number 687 00:43:56,760 --> 00:44:02,799 Speaker 1: they're going right now where the cruise addicted people are 688 00:44:02,800 --> 00:44:06,239 Speaker 1: booking up those cabins at any price to be able 689 00:44:06,239 --> 00:44:09,160 Speaker 1: to go. Those folks were just chomping at the bit. 690 00:44:09,680 --> 00:44:12,440 Speaker 1: That's some great advice there about travel, Clark. And honestly, 691 00:44:12,440 --> 00:44:15,799 Speaker 1: this whole conversation has been awesome. We really appreciate your 692 00:44:16,080 --> 00:44:19,200 Speaker 1: insight and your wisdom into the personal finance space, as 693 00:44:19,239 --> 00:44:21,560 Speaker 1: you've been in it now for more than we have. 694 00:44:21,680 --> 00:44:25,719 Speaker 1: I'll say that. But Clark, where can folks go to 695 00:44:25,800 --> 00:44:28,480 Speaker 1: learn more about you and what you're up to? Well, 696 00:44:28,719 --> 00:44:32,640 Speaker 1: if they go look for my prison record online just 697 00:44:33,480 --> 00:44:36,080 Speaker 1: Clark Howard prison No. Well that in our show notes 698 00:44:36,120 --> 00:44:38,680 Speaker 1: your full prisoner all the wrong things you've done in life. 699 00:44:39,360 --> 00:44:43,280 Speaker 1: So Clark dot com is our main website, Clark Deals 700 00:44:43,320 --> 00:44:48,000 Speaker 1: dot com is our bargain site, and our podcast Clark 701 00:44:48,080 --> 00:44:52,160 Speaker 1: dot com slash podcast. And then we also offer free 702 00:44:52,400 --> 00:44:56,360 Speaker 1: one on one advice. So if you're having a problem, 703 00:44:56,400 --> 00:45:00,120 Speaker 1: concern or question you don't know where to turn what do? 704 00:45:00,760 --> 00:45:03,320 Speaker 1: If you go to Clark dot com slash C A 705 00:45:03,520 --> 00:45:08,600 Speaker 1: C you'll see how to get free advice from someone 706 00:45:08,640 --> 00:45:11,200 Speaker 1: who is a member of Team Clark who wants to 707 00:45:11,239 --> 00:45:13,600 Speaker 1: help keep you from getting ripped off or help you 708 00:45:14,080 --> 00:45:17,359 Speaker 1: through a financial quandary or consumer problem that you have, 709 00:45:17,960 --> 00:45:21,000 Speaker 1: and that is not a scam. That is actually like 710 00:45:21,080 --> 00:45:23,400 Speaker 1: one of the only Clark That's the only service I 711 00:45:23,440 --> 00:45:27,719 Speaker 1: know of where people volunteer to help other Americans who 712 00:45:27,760 --> 00:45:30,120 Speaker 1: have a question about money or a question about a 713 00:45:30,120 --> 00:45:33,000 Speaker 1: scam that they might have run into. Um it, it 714 00:45:33,080 --> 00:45:35,160 Speaker 1: really is. I mean, You've done a lot of cool 715 00:45:35,160 --> 00:45:36,880 Speaker 1: things in your life, and that is one of the coolest. 716 00:45:37,120 --> 00:45:38,719 Speaker 1: So yeah, well we'll make sure we link to all 717 00:45:38,719 --> 00:45:40,600 Speaker 1: those things in the show notes. But Clark, it was 718 00:45:40,640 --> 00:45:42,160 Speaker 1: such a pleasure hanging out with you. Thank you so 719 00:45:42,239 --> 00:45:44,760 Speaker 1: much for joining us on the show today. This was great. 720 00:45:44,800 --> 00:45:48,279 Speaker 1: Thank you. What a fun conversation that was, Joel, we 721 00:45:48,320 --> 00:45:50,560 Speaker 1: just had here with Clark, Howard. Let's be honest, did 722 00:45:50,560 --> 00:45:53,439 Speaker 1: it feel weird for you at all talking to your 723 00:45:53,440 --> 00:45:56,120 Speaker 1: previous boss essentially? Right? I mean Clark is your boss 724 00:45:56,160 --> 00:45:58,040 Speaker 1: like way back in the day. Yeah, well yeah, not 725 00:45:58,080 --> 00:46:00,080 Speaker 1: even really hold that long ago, but he was like 726 00:46:00,080 --> 00:46:01,920 Speaker 1: your direct boss. I guess when you first came on 727 00:46:02,000 --> 00:46:03,759 Speaker 1: board there at sure, I mean yeah, I mean I've 728 00:46:03,760 --> 00:46:05,680 Speaker 1: I've worked with him, worked with him for a long time, 729 00:46:05,719 --> 00:46:07,160 Speaker 1: so but really it feels like catching up with an 730 00:46:07,160 --> 00:46:10,319 Speaker 1: old friendly yeah, because because he really is. Um, Like, 731 00:46:10,360 --> 00:46:13,760 Speaker 1: this podcast wouldn't exist without Clark Howard, right, like without 732 00:46:13,960 --> 00:46:15,960 Speaker 1: his influence on my life, and and getting to work 733 00:46:16,000 --> 00:46:18,320 Speaker 1: with him for so long, um and just being really 734 00:46:18,400 --> 00:46:21,480 Speaker 1: inspired by his vision for how money should work in 735 00:46:21,520 --> 00:46:24,200 Speaker 1: the lives of individuals. So so many of the things 736 00:46:24,200 --> 00:46:27,640 Speaker 1: we talked about on this show are directly influenced by 737 00:46:27,680 --> 00:46:30,960 Speaker 1: by him. So uh, yeah, how the money is really 738 00:46:31,280 --> 00:46:34,439 Speaker 1: the grandfather of how to money? Yeah, something like that, 739 00:46:34,680 --> 00:46:37,520 Speaker 1: and and honestly just a yeah. So it was really 740 00:46:37,640 --> 00:46:39,359 Speaker 1: it was good to hang out with with Clark and 741 00:46:39,480 --> 00:46:41,880 Speaker 1: uh and catch up and get some of his insights 742 00:46:41,960 --> 00:46:44,560 Speaker 1: on a whole lot of different money topics exactly. Yeah, 743 00:46:44,600 --> 00:46:47,560 Speaker 1: so all of that note was your big takeaway from 744 00:46:47,640 --> 00:46:49,799 Speaker 1: that conversation? Yeah, I'd say, you know that there were 745 00:46:49,800 --> 00:46:51,400 Speaker 1: a lot of great things in there, a lot of 746 00:46:51,400 --> 00:46:53,520 Speaker 1: specific things to the people can take away and you 747 00:46:53,840 --> 00:46:56,000 Speaker 1: used to save money on travel. But yeah, I think 748 00:46:56,000 --> 00:46:58,040 Speaker 1: one of the coolest things he said is that, you know, 749 00:46:58,080 --> 00:47:01,800 Speaker 1: he's recently increased the amount that he tells people that 750 00:47:01,840 --> 00:47:04,480 Speaker 1: they should be saving. And yeah, working on that show, 751 00:47:04,520 --> 00:47:06,279 Speaker 1: he always had a dime of every dollar. And I 752 00:47:06,320 --> 00:47:08,640 Speaker 1: love that he's increased that because I think you and 753 00:47:08,680 --> 00:47:11,200 Speaker 1: I we've said a minimum of fifteen percent of what 754 00:47:11,280 --> 00:47:12,960 Speaker 1: you make is what you should be saving, and I 755 00:47:12,960 --> 00:47:14,920 Speaker 1: think twenty is an even better thing to shoot for. 756 00:47:14,960 --> 00:47:17,160 Speaker 1: And I think he's right that if you if you 757 00:47:17,200 --> 00:47:19,120 Speaker 1: get that squared away, if you have that taken care of, 758 00:47:19,200 --> 00:47:23,000 Speaker 1: you don't have to worry about every single little decision 759 00:47:23,200 --> 00:47:24,680 Speaker 1: when it comes to the money that you're spending. I 760 00:47:24,719 --> 00:47:27,480 Speaker 1: think that's when money becomes more of a headache for people. 761 00:47:27,600 --> 00:47:29,880 Speaker 1: If you get those big things squared away, um, and 762 00:47:29,960 --> 00:47:32,880 Speaker 1: you are saving and investing well with twenty of the 763 00:47:32,920 --> 00:47:35,319 Speaker 1: money that you've got coming in, it doesn't really matter 764 00:47:35,360 --> 00:47:38,719 Speaker 1: how you spend the other eighty. You know, if of 765 00:47:38,800 --> 00:47:40,720 Speaker 1: the rest of that money goes towards your housing costs 766 00:47:40,800 --> 00:47:43,120 Speaker 1: because you live so frugally elsewhere, that's fine. You know, 767 00:47:43,400 --> 00:47:46,719 Speaker 1: you don't have to agonize over all the small decisions. Yeah, yeah, 768 00:47:46,760 --> 00:47:48,640 Speaker 1: so I love that. I think that was probably my 769 00:47:48,680 --> 00:47:50,440 Speaker 1: big takeaway. But yeah, a lot of a lot of 770 00:47:50,480 --> 00:47:52,200 Speaker 1: good stuff there. What was yours? Ye? Maybe instead of 771 00:47:52,239 --> 00:47:54,759 Speaker 1: the principles should be like the twenty eight right, because 772 00:47:54,800 --> 00:47:58,160 Speaker 1: like the the idea is that you focus on that first, 773 00:47:58,280 --> 00:48:00,839 Speaker 1: like you get that squared away, that everything else takes 774 00:48:00,880 --> 00:48:03,799 Speaker 1: care of itself essentially. Well, my big teaga away was 775 00:48:04,040 --> 00:48:07,400 Speaker 1: when Clark was talking about consumer advocacy essentially right he was, 776 00:48:07,560 --> 00:48:08,759 Speaker 1: and one of the things he said, he said that 777 00:48:08,800 --> 00:48:12,560 Speaker 1: there is no playbook when it comes to advocating for yourself. 778 00:48:12,880 --> 00:48:14,680 Speaker 1: And I would say that not just when it comes 779 00:48:14,719 --> 00:48:17,319 Speaker 1: to not getting ripped off or being you know, making 780 00:48:17,320 --> 00:48:19,520 Speaker 1: sure that you're being treated well by a company. This 781 00:48:19,600 --> 00:48:22,799 Speaker 1: applies to I think all areas and personal finance now, 782 00:48:22,840 --> 00:48:26,000 Speaker 1: because we're we're in an era where we're essentially on 783 00:48:26,000 --> 00:48:28,280 Speaker 1: our own, right, you know, like Clark missioned, how pensions 784 00:48:28,280 --> 00:48:30,080 Speaker 1: are kind of on their way out, and just all 785 00:48:30,080 --> 00:48:32,480 Speaker 1: these different things. Well, I feel that that's only going 786 00:48:32,520 --> 00:48:35,279 Speaker 1: to continue down that path, and in the end, no 787 00:48:35,280 --> 00:48:37,120 Speaker 1: one is going to truly care about your money as 788 00:48:37,200 --> 00:48:39,279 Speaker 1: much as you do, and so it truly is going 789 00:48:39,360 --> 00:48:42,040 Speaker 1: to take you being versatile. I don't think there's ever 790 00:48:42,080 --> 00:48:43,920 Speaker 1: gonna be a time in your life when you should 791 00:48:43,960 --> 00:48:46,040 Speaker 1: feel comfortable saying well, I'm just gonna leave that to 792 00:48:46,200 --> 00:48:48,640 Speaker 1: this person. This isn't gonna be something that I'm going 793 00:48:48,640 --> 00:48:50,719 Speaker 1: to concern myself with because this is what I do 794 00:48:50,760 --> 00:48:52,879 Speaker 1: over here, Like, I just focus on this. Even when 795 00:48:52,880 --> 00:48:54,719 Speaker 1: it comes to hiring a financial advisor, A lot of 796 00:48:54,719 --> 00:48:56,759 Speaker 1: people assume, Hey, I'm gonna make that move and then 797 00:48:56,800 --> 00:48:58,319 Speaker 1: I don't have to worry about it. But that's not 798 00:48:58,360 --> 00:49:00,560 Speaker 1: how it works either, exactly. Yeah, and so of kind 799 00:49:00,800 --> 00:49:03,480 Speaker 1: around them too. He just talked about personal responsibility and 800 00:49:03,480 --> 00:49:06,919 Speaker 1: how that's something we need to just latch onto. Uh 801 00:49:06,960 --> 00:49:09,279 Speaker 1: and so, yeah, in all areas of our life, they're 802 00:49:09,440 --> 00:49:13,120 Speaker 1: probably needs to be more personal responsibility, but specifically and 803 00:49:13,280 --> 00:49:16,560 Speaker 1: especially with our money, with our personal finances, I think 804 00:49:16,600 --> 00:49:18,359 Speaker 1: we need to continue to step up in a big 805 00:49:18,400 --> 00:49:20,880 Speaker 1: way and to make sure that we are continuing to 806 00:49:20,920 --> 00:49:23,560 Speaker 1: do the right things, the smart things with our money. Yeah. 807 00:49:23,600 --> 00:49:25,960 Speaker 1: He said, we can be our own worst enemies or 808 00:49:26,080 --> 00:49:29,200 Speaker 1: our own best advocate, and that's true, Like we can 809 00:49:29,360 --> 00:49:33,160 Speaker 1: essentially be sabotaging ourselves in our own financial future, or 810 00:49:33,200 --> 00:49:35,480 Speaker 1: we can be the best cheerleader in our own corner. 811 00:49:35,920 --> 00:49:39,439 Speaker 1: Uh And yeah, really, so much of which you're gonna 812 00:49:39,480 --> 00:49:41,439 Speaker 1: take is up to you, absolutely, man, All right, let's 813 00:49:41,440 --> 00:49:42,799 Speaker 1: go ahead and get back to the beer that you 814 00:49:42,840 --> 00:49:44,839 Speaker 1: and I shared on this episode, which, by the way, 815 00:49:44,840 --> 00:49:46,239 Speaker 1: it was kind of fun. We we we switched it up 816 00:49:46,239 --> 00:49:48,040 Speaker 1: there at the beginning. I never get to say the 817 00:49:48,080 --> 00:49:50,520 Speaker 1: part about why we drink up here. I think I 818 00:49:50,600 --> 00:49:53,000 Speaker 1: say that occasionally on different episodes, you know, just like 819 00:49:53,000 --> 00:49:55,239 Speaker 1: on our Wednesday episodes, but you get to say it 820 00:49:55,280 --> 00:49:57,920 Speaker 1: like every time we get to interview somebody. That's kind 821 00:49:57,920 --> 00:50:01,160 Speaker 1: of fun to uh bo bowles a little bit there. 822 00:50:01,640 --> 00:50:04,920 Speaker 1: But on this episode, you and I enjoyed fruited Berlin 823 00:50:04,920 --> 00:50:07,000 Speaker 1: of Ice. Uh. And this is a beer by New 824 00:50:07,040 --> 00:50:10,839 Speaker 1: Grass Brewing Company. What were your thoughts on this beer? Yeah? 825 00:50:10,840 --> 00:50:13,400 Speaker 1: So that this this one had mango, pineapple, and passion 826 00:50:13,440 --> 00:50:17,879 Speaker 1: fruit in it. It was completely tropic. Well like put 827 00:50:17,880 --> 00:50:20,360 Speaker 1: a straw in this puppy and I don't know, let 828 00:50:20,400 --> 00:50:24,960 Speaker 1: me drink it out of like a skull shaped uh glassware. Uh. 829 00:50:25,000 --> 00:50:26,839 Speaker 1: And you say skull because like on the label there's 830 00:50:26,840 --> 00:50:28,839 Speaker 1: a skull here. So it kind of makes you think 831 00:50:28,880 --> 00:50:31,759 Speaker 1: like hardcore tropical VI. Yeah, I mean this this makes 832 00:50:31,800 --> 00:50:33,600 Speaker 1: me feel like this is something I would drink in 833 00:50:33,600 --> 00:50:35,359 Speaker 1: a tiki bar, right, Like that's the kind of beer 834 00:50:35,400 --> 00:50:38,120 Speaker 1: that this is. And uh, I love that man like 835 00:50:38,320 --> 00:50:42,040 Speaker 1: super fruity, a lot of mango and pineapple and this one, 836 00:50:42,440 --> 00:50:45,560 Speaker 1: uh and passion fruit shines through too. Just a great 837 00:50:45,640 --> 00:50:49,440 Speaker 1: blending of those fruits made this one like truly excellent, 838 00:50:49,560 --> 00:50:51,600 Speaker 1: Like this is this is really good. I wasn't expecting 839 00:50:51,600 --> 00:50:54,440 Speaker 1: it to be as this good, but I agree with you. 840 00:50:54,480 --> 00:50:56,560 Speaker 1: It had tons of fruit, so much fruit that actually 841 00:50:57,040 --> 00:50:58,600 Speaker 1: the longer we let it sit here in the glasses, 842 00:50:58,680 --> 00:50:59,799 Speaker 1: like we kind of have to give it a little 843 00:51:00,000 --> 00:51:03,359 Speaker 1: world to reincorporate the fruit, like the fruits almost like pure. Yeah. Yeah, 844 00:51:03,360 --> 00:51:04,839 Speaker 1: some of it would kind of settle down there towards 845 00:51:04,840 --> 00:51:06,759 Speaker 1: the bottom. And to some folks out there, that might 846 00:51:06,760 --> 00:51:08,960 Speaker 1: sound a little bit gross, but to the hardcore craft 847 00:51:08,960 --> 00:51:10,720 Speaker 1: beer fans out there, you know what we're talking about. 848 00:51:10,920 --> 00:51:13,839 Speaker 1: And it was really good, like concentrated liquid gold. Well. 849 00:51:14,239 --> 00:51:15,759 Speaker 1: They gave a warning here too on the side. I 850 00:51:15,760 --> 00:51:16,800 Speaker 1: don't know if you saw that on the side of 851 00:51:16,840 --> 00:51:20,160 Speaker 1: the can, and it says warning, highly fruited without pasteurization. 852 00:51:20,440 --> 00:51:22,520 Speaker 1: They're just telling you to keep it refrigerated and drink 853 00:51:22,520 --> 00:51:25,200 Speaker 1: it fresh. But it did have a ton of fruit, 854 00:51:25,440 --> 00:51:27,399 Speaker 1: but at the same time it's still had a good 855 00:51:27,400 --> 00:51:30,399 Speaker 1: amount of carbonation, which always impresses me anytime you're able 856 00:51:30,440 --> 00:51:33,279 Speaker 1: to have a like a thicker, heavier, fruited sour like this, 857 00:51:33,640 --> 00:51:36,440 Speaker 1: a fruited Berliner vice. But then it's still has that 858 00:51:36,480 --> 00:51:39,040 Speaker 1: bubbled nous to it. It's there's something magical, there's something 859 00:51:39,120 --> 00:51:41,120 Speaker 1: special about the style of beer. And I'm glad that 860 00:51:41,160 --> 00:51:42,239 Speaker 1: you and I got to enjoy this one on the 861 00:51:42,239 --> 00:51:44,800 Speaker 1: show today. Dude, Yeah, me too, great beer, great convo. 862 00:51:45,200 --> 00:51:46,640 Speaker 1: Uh So that was a lot of fun. All right, 863 00:51:46,680 --> 00:51:49,080 Speaker 1: Well that's gonna do it for this episode. For folks 864 00:51:49,080 --> 00:51:51,239 Speaker 1: who want show notes, will have all the links that 865 00:51:51,320 --> 00:51:53,640 Speaker 1: Clark mentioned up on our website at how to money 866 00:51:53,640 --> 00:51:56,719 Speaker 1: dot COM's right, so, Joel. Until next time, Best Friends Out, 867 00:51:56,800 --> 00:52:06,320 Speaker 1: Best Friends Out. M