1 00:00:00,040 --> 00:00:03,040 Speaker 1: Welcome to How to Money. I'm Joel, I'm Matt. Today 2 00:00:03,120 --> 00:00:08,039 Speaker 1: we're talking ridiculous, car refinancing, occupation, consternation, and adds everywhere. 3 00:00:26,680 --> 00:00:29,480 Speaker 1: That's right, buddy. This is our Friday flight where we 4 00:00:29,560 --> 00:00:32,240 Speaker 1: cover the best headlines, the news that's going to pertain 5 00:00:32,280 --> 00:00:34,920 Speaker 1: to your personal finances, only the most, only the best, 6 00:00:34,960 --> 00:00:37,440 Speaker 1: only the finest. This is the cream of the crop. 7 00:00:37,600 --> 00:00:39,360 Speaker 1: Before we get to all that, though, a quick little 8 00:00:39,440 --> 00:00:42,159 Speaker 1: update from I think it was Greg who wrote in, 9 00:00:42,200 --> 00:00:45,320 Speaker 1: and he was talking about the recision period that states 10 00:00:45,360 --> 00:00:49,360 Speaker 1: allow specifically for time shares. So we recently talked about 11 00:00:49,360 --> 00:00:52,440 Speaker 1: how you were like laying whether or not you're going 12 00:00:52,479 --> 00:00:55,240 Speaker 1: to go to the timeshare pitch. You said no because 13 00:00:55,400 --> 00:00:57,960 Speaker 1: ultimately they said your wife's gotta be there. I was 14 00:00:57,960 --> 00:01:00,000 Speaker 1: like for it, and they were like, no, you're not 15 00:01:00,120 --> 00:01:02,000 Speaker 1: not unless your wife comes. And I'm like, ah, man, 16 00:01:02,160 --> 00:01:05,199 Speaker 1: well she doesn't changes the game, which makes sense. Yeah, 17 00:01:05,240 --> 00:01:06,920 Speaker 1: it totally makes sense to me, right because if it's 18 00:01:06,959 --> 00:01:11,000 Speaker 1: just one person that's whole that seems like a financial optimizer, 19 00:01:11,160 --> 00:01:13,319 Speaker 1: it's that's a divide and conquer kind of move there, right, 20 00:01:13,400 --> 00:01:16,839 Speaker 1: Like like you are, You're you're approaching this very strategically, 21 00:01:16,920 --> 00:01:18,520 Speaker 1: what are they doing it like that? But you pointed 22 00:01:18,560 --> 00:01:20,560 Speaker 1: out if there's two people, is that if you go 23 00:01:20,640 --> 00:01:22,959 Speaker 1: alone and then you go back to the room and 24 00:01:23,000 --> 00:01:25,600 Speaker 1: your spouse is like, what did you just sign up for? Yeah, 25 00:01:25,680 --> 00:01:28,119 Speaker 1: that then those people are more likely the cancels, whereas 26 00:01:28,160 --> 00:01:31,119 Speaker 1: if you make the decision together, you're unlikely to cancel. 27 00:01:31,160 --> 00:01:33,520 Speaker 1: The time, there's like a commit there's something that happens 28 00:01:33,520 --> 00:01:35,840 Speaker 1: from a commitment standpoint where there's two people, right, like 29 00:01:36,200 --> 00:01:37,679 Speaker 1: so on, if it was just you, it would have 30 00:01:37,720 --> 00:01:41,000 Speaker 1: been like the optimizer. But with two people that spend 31 00:01:41,040 --> 00:01:43,680 Speaker 1: that amount of time and energy into it, it feels 32 00:01:43,720 --> 00:01:46,959 Speaker 1: like you've you've started something, You've run through the gauntlet. Yeah, 33 00:01:47,200 --> 00:01:49,800 Speaker 1: like you've created relationships, you started to dream about what 34 00:01:49,800 --> 00:01:52,440 Speaker 1: this scould look like together. Yeah, there's like there's a 35 00:01:52,480 --> 00:01:54,600 Speaker 1: sun cost fallacy involved right where it's just like, well, 36 00:01:54,600 --> 00:01:57,000 Speaker 1: we spent all that time doing that and you are 37 00:01:57,160 --> 00:01:59,080 Speaker 1: you're only looking at that as opposed to thinking about 38 00:01:59,080 --> 00:02:01,120 Speaker 1: what this is gonna what this will cost you in 39 00:02:01,160 --> 00:02:03,640 Speaker 1: the future, And that's at the core of I think 40 00:02:03,640 --> 00:02:06,800 Speaker 1: what they're trying to Yeah, promote Actually, I spent two 41 00:02:06,800 --> 00:02:09,120 Speaker 1: hours here and I signed on the dotted line. I 42 00:02:09,160 --> 00:02:11,600 Speaker 1: guess we're committed, and probably a lot of people don't 43 00:02:11,600 --> 00:02:14,520 Speaker 1: even know about the recision period that exists, depending on 44 00:02:14,560 --> 00:02:16,880 Speaker 1: what state you're in. It's somewhere between three and fifteen 45 00:02:17,000 --> 00:02:19,720 Speaker 1: days after you've signed on the dotted line for that 46 00:02:19,800 --> 00:02:22,760 Speaker 1: time share. So you do have we actually let's link 47 00:02:22,800 --> 00:02:24,320 Speaker 1: to that in the show notes, OK, for folks out 48 00:02:24,360 --> 00:02:27,520 Speaker 1: there to know that you do have a cooling off period, 49 00:02:27,680 --> 00:02:30,080 Speaker 1: or you can say, yeah, I actually don't want to 50 00:02:30,080 --> 00:02:32,840 Speaker 1: do that, which is I think really important, especially because 51 00:02:32,840 --> 00:02:35,240 Speaker 1: that is such a highly I think it's an emotional 52 00:02:35,440 --> 00:02:38,800 Speaker 1: decision that's made emotionally so much of the time, because 53 00:02:39,080 --> 00:02:43,639 Speaker 1: you understandably, the human instinct is you kind of want 54 00:02:43,639 --> 00:02:45,520 Speaker 1: to please the person who's trying to sell you the 55 00:02:45,560 --> 00:02:47,480 Speaker 1: time share. They're spending that much time with you, you don't 56 00:02:47,480 --> 00:02:49,919 Speaker 1: want to disappoint them. Right, you're sharing a meal together. 57 00:02:49,960 --> 00:02:51,760 Speaker 1: They were probably really nice to you, and so you're like, 58 00:02:51,800 --> 00:02:53,639 Speaker 1: all right, yeah, I and we'll get to take some vacations. 59 00:02:53,720 --> 00:02:57,000 Speaker 1: Will be great. But time shares for most people don't 60 00:02:57,000 --> 00:02:59,480 Speaker 1: make much financial sense. And even if you really want 61 00:02:59,480 --> 00:03:01,720 Speaker 1: a timeshare, there are much cheaper ways to get a 62 00:03:01,760 --> 00:03:05,000 Speaker 1: timeshare than paying full freight at one of those presentations. 63 00:03:05,200 --> 00:03:07,160 Speaker 1: That's right, So Joe, let's kick things off. You want 64 00:03:07,200 --> 00:03:11,040 Speaker 1: to talk about affordable vehicles. Those don't exist anymore, man, 65 00:03:11,639 --> 00:03:13,360 Speaker 1: I think that's an oxymoron if I've ever heard one. 66 00:03:13,360 --> 00:03:17,520 Speaker 1: There are some out there. I get very few, very few. Yeah. 67 00:03:18,000 --> 00:03:20,240 Speaker 1: I actually was looking up at the value of our 68 00:03:20,280 --> 00:03:22,320 Speaker 1: minivan the other the other day, and I was like, oh, 69 00:03:22,520 --> 00:03:25,720 Speaker 1: it's worth like less than six thousand dollars. Now it's affordable. 70 00:03:25,760 --> 00:03:28,000 Speaker 1: It's basically hit that fully depreciated mark. I don't know 71 00:03:28,040 --> 00:03:29,480 Speaker 1: that's going to go down to value very much. So 72 00:03:29,720 --> 00:03:32,959 Speaker 1: there are some cheap cars. You just can't buy mine. Sorry, yeah, 73 00:03:33,000 --> 00:03:35,000 Speaker 1: you need that thing. Man, What did you put for 74 00:03:35,080 --> 00:03:37,680 Speaker 1: the condition? Because that's I know what I know. Oh, 75 00:03:37,760 --> 00:03:41,000 Speaker 1: it's definitely not excellent. Okay, but did you do pretty 76 00:03:41,000 --> 00:03:43,680 Speaker 1: good or did you do four? Oh no, probably whatever's 77 00:03:43,720 --> 00:03:47,040 Speaker 1: in the middle. Yeah, that's pretty easy. Yeah, it's got 78 00:03:47,080 --> 00:03:49,080 Speaker 1: some things in that. At this point, I want to 79 00:03:49,240 --> 00:03:51,160 Speaker 1: I want to think that mine's an excellent condition, but 80 00:03:51,200 --> 00:03:53,040 Speaker 1: I know it's not. Like in my heart it's an 81 00:03:53,040 --> 00:03:54,920 Speaker 1: excellent condition, but there are certain things about it that 82 00:03:54,960 --> 00:03:57,080 Speaker 1: I know are excellent. But then I know from an 83 00:03:57,080 --> 00:03:59,840 Speaker 1: outsider's perspective, they would see all some of the busted 84 00:03:59,920 --> 00:04:02,360 Speaker 1: up thing, some of the spray painted side view mirrors 85 00:04:02,600 --> 00:04:06,600 Speaker 1: that creative fathers three on there in order for it 86 00:04:06,600 --> 00:04:08,880 Speaker 1: to look slightly better. They might notice that, well, I 87 00:04:08,920 --> 00:04:13,160 Speaker 1: think my sc it makes it sound so ratchet, which 88 00:04:13,160 --> 00:04:14,640 Speaker 1: I think both of our fans probably are. At this one. 89 00:04:15,440 --> 00:04:18,360 Speaker 1: I would say my six four Runner is in mint condition. 90 00:04:18,360 --> 00:04:21,000 Speaker 1: I'd put that in excellent, but would be excellent. So 91 00:04:21,000 --> 00:04:23,480 Speaker 1: how long will it stay that way? We'll see do 92 00:04:23,480 --> 00:04:25,760 Speaker 1: you feel like it's already gone downhill since you've gotten 93 00:04:25,800 --> 00:04:27,599 Speaker 1: it a little bit. I'm doing my best, though, But 94 00:04:27,600 --> 00:04:29,240 Speaker 1: they kept it in a garage. I don't have space 95 00:04:29,320 --> 00:04:31,400 Speaker 1: in a garage for two cars. I have a one 96 00:04:31,400 --> 00:04:34,880 Speaker 1: car garage. People, what if you can clear everything out, 97 00:04:35,000 --> 00:04:38,119 Speaker 1: squeeze both those suckers in there. I don't think it's possible, really, Yeah, okay, 98 00:04:38,120 --> 00:04:40,400 Speaker 1: we can try one day. Okay, so I'll help you 99 00:04:40,440 --> 00:04:42,120 Speaker 1: try it this weekend if you want. Let's talk about 100 00:04:42,120 --> 00:04:45,040 Speaker 1: expensive cars. Though. We have cheap cars, but the average 101 00:04:45,040 --> 00:04:49,039 Speaker 1: American is opting for really really expensive ones. And I'm 102 00:04:49,080 --> 00:04:52,440 Speaker 1: over here reticent to spend you know, five figures on 103 00:04:52,480 --> 00:04:55,240 Speaker 1: a car. But people are spending fifty k on average 104 00:04:55,240 --> 00:04:58,160 Speaker 1: on new cars. That's the we've crossed that threshold now, 105 00:04:58,160 --> 00:05:01,240 Speaker 1: it's insane. But because of high costs and high interest rates, 106 00:05:01,680 --> 00:05:04,320 Speaker 1: this means people are paying more for cars than ever before, 107 00:05:05,200 --> 00:05:07,520 Speaker 1: which means that the vast majority find themselves on like 108 00:05:07,560 --> 00:05:10,160 Speaker 1: a debt treadmill for a really long time. And we've 109 00:05:10,160 --> 00:05:12,080 Speaker 1: talked about this kind of ad nausea map, but there 110 00:05:12,120 --> 00:05:14,640 Speaker 1: was a new there was some new stats that came 111 00:05:14,640 --> 00:05:19,800 Speaker 1: out this week from Caribou who they help people refinance 112 00:05:19,839 --> 00:05:21,720 Speaker 1: their loan and shop around and get a better deal, 113 00:05:22,000 --> 00:05:24,040 Speaker 1: and they said that the most popular choice these days 114 00:05:24,040 --> 00:05:26,839 Speaker 1: when people refinance a car loan is an eighty four 115 00:05:26,920 --> 00:05:30,880 Speaker 1: month long loan, which I didn't know. I knew you 116 00:05:30,920 --> 00:05:32,560 Speaker 1: could get that out on a new car. I didn't 117 00:05:32,600 --> 00:05:34,920 Speaker 1: realize you could refinance into an eighty four month long loan. 118 00:05:34,960 --> 00:05:37,320 Speaker 1: It's crazy. So let's say you get a new car, 119 00:05:37,520 --> 00:05:39,280 Speaker 1: you're in it for a couple of years, and then 120 00:05:39,320 --> 00:05:42,960 Speaker 1: you refinance again into another seven year loan. Yeah, maybe 121 00:05:43,080 --> 00:05:45,480 Speaker 1: you're able to save some money every month, and maybe 122 00:05:45,600 --> 00:05:47,600 Speaker 1: you lowered your interest rate. You've probably done both of 123 00:05:47,640 --> 00:05:49,599 Speaker 1: those things, but it means you're going to be in 124 00:05:49,640 --> 00:05:51,280 Speaker 1: the loan for even longer. Some of those folks are 125 00:05:51,279 --> 00:05:54,520 Speaker 1: going to be in that like a car loan because 126 00:05:54,520 --> 00:05:56,840 Speaker 1: they take one out and refinance for something like nine 127 00:05:56,880 --> 00:06:00,200 Speaker 1: or ten years. It's crazy hard to really have them. Yeah, 128 00:06:00,200 --> 00:06:02,279 Speaker 1: what's so the first thing I think of when I 129 00:06:02,279 --> 00:06:04,200 Speaker 1: hear eighty four months? It makes me think of people 130 00:06:04,240 --> 00:06:07,120 Speaker 1: who have like an eighteen month old. It's like, no, no, no, 131 00:06:07,160 --> 00:06:08,960 Speaker 1: you need to go ahead and switch to my kids 132 00:06:09,279 --> 00:06:11,000 Speaker 1: a year and a half. He's two years old. Like 133 00:06:11,279 --> 00:06:13,760 Speaker 1: they're trying to obscure the fact of how long of 134 00:06:13,800 --> 00:06:16,400 Speaker 1: a period this is, I think by saying something like 135 00:06:16,520 --> 00:06:19,120 Speaker 1: eighty four months. But the journal actually had an article 136 00:06:19,160 --> 00:06:22,600 Speaker 1: about how repomen are actually busier than ever. They're basically 137 00:06:23,520 --> 00:06:27,520 Speaker 1: working around the clock repossessing vehicles where folks aren't making 138 00:06:27,520 --> 00:06:29,640 Speaker 1: a payments, a dangerous job. I had a friend who 139 00:06:29,680 --> 00:06:32,520 Speaker 1: did that for I think he still doesn't actually, and 140 00:06:32,680 --> 00:06:34,440 Speaker 1: I believe it. He has a run ins man Like 141 00:06:34,480 --> 00:06:36,000 Speaker 1: people do not like their car being taken out of 142 00:06:36,040 --> 00:06:37,520 Speaker 1: their driveway in the middle of the night. But ye, 143 00:06:38,240 --> 00:06:40,520 Speaker 1: when the payments aren't being made, this is going to 144 00:06:40,560 --> 00:06:42,560 Speaker 1: take it is what happened. That's what you agree to 145 00:06:43,000 --> 00:06:46,880 Speaker 1: and delinquencies on car loans are up across all income levels. 146 00:06:48,040 --> 00:06:50,560 Speaker 1: But even with lower payments spread out over a longer 147 00:06:50,560 --> 00:06:52,640 Speaker 1: period of time, way too many people are out there 148 00:06:53,200 --> 00:06:55,680 Speaker 1: and they're unable to afford their ride. So just be 149 00:06:55,760 --> 00:06:58,080 Speaker 1: careful when you are buying a car. You do not 150 00:06:58,240 --> 00:07:00,840 Speaker 1: have to pay an arm and a leg in order 151 00:07:01,040 --> 00:07:03,560 Speaker 1: to get a good one. And in that article as well, 152 00:07:03,960 --> 00:07:07,600 Speaker 1: a fascinating stat was that home debt, so they had 153 00:07:07,600 --> 00:07:10,160 Speaker 1: like different types of debt, so like obviously auto loan debt, 154 00:07:10,200 --> 00:07:12,320 Speaker 1: but then they had home debt, right, so like your 155 00:07:12,360 --> 00:07:16,600 Speaker 1: mortgage or home equity loans, they're down significantly. They're down 156 00:07:16,640 --> 00:07:19,520 Speaker 1: something like fifty percent when looking at the same period 157 00:07:19,560 --> 00:07:22,040 Speaker 1: of time, which is is just fascinating that it seems 158 00:07:22,040 --> 00:07:23,640 Speaker 1: like something has changed in how it is that we 159 00:07:23,760 --> 00:07:25,640 Speaker 1: view vehicles, which I kind of think is a good 160 00:07:25,640 --> 00:07:28,760 Speaker 1: thing it. I guess one way to interpret the data 161 00:07:28,800 --> 00:07:31,040 Speaker 1: is that more folks are seeing their vehicles more as 162 00:07:31,040 --> 00:07:35,160 Speaker 1: a tool. They're seeing it as a more expendable thing. 163 00:07:35,600 --> 00:07:36,720 Speaker 1: And I think some of them might have to do 164 00:07:36,760 --> 00:07:38,760 Speaker 1: with the rise of uber and left right, like it's 165 00:07:38,800 --> 00:07:40,280 Speaker 1: just a way to get from point A to point B, 166 00:07:40,360 --> 00:07:45,360 Speaker 1: as opposed to maybe having your identity so tightly tied 167 00:07:45,480 --> 00:07:48,080 Speaker 1: to a possession like that too, to something like a vehicle, 168 00:07:48,120 --> 00:07:52,600 Speaker 1: which have just really fascinating. The fact that, yeah, mortgage delinquencies, 169 00:07:52,720 --> 00:07:56,960 Speaker 1: home equity loan delinquencies are down about this like fifty percent, 170 00:07:57,200 --> 00:08:00,280 Speaker 1: whereas auto loaned delinquencies are up fifty percent over the 171 00:08:00,280 --> 00:08:04,000 Speaker 1: past fifteen years. Yeah. Crazy. Well, I mean I think, gosh, 172 00:08:04,080 --> 00:08:06,920 Speaker 1: you want to keep a roof over your head stability, 173 00:08:07,080 --> 00:08:09,960 Speaker 1: but it seems it's just interesting. Yeah, when you look 174 00:08:10,000 --> 00:08:11,280 Speaker 1: at the same period of time, though, I think some 175 00:08:11,360 --> 00:08:13,760 Speaker 1: of it also has to do with not to take 176 00:08:13,760 --> 00:08:16,560 Speaker 1: it back to the pandemic, but stimmy checks, right, Like, 177 00:08:16,600 --> 00:08:19,560 Speaker 1: we found ourselves with a lot more money in our banks. 178 00:08:19,880 --> 00:08:22,760 Speaker 1: It wasn't so much money that you went and bought 179 00:08:23,000 --> 00:08:26,280 Speaker 1: went on like a home shopping spree, but it was 180 00:08:26,280 --> 00:08:28,600 Speaker 1: more than just like going to your local RII and 181 00:08:28,840 --> 00:08:30,960 Speaker 1: getting a few new items. You're probably thinking, oh, I 182 00:08:31,000 --> 00:08:34,520 Speaker 1: can handle a bigger payment in my life. It seems 183 00:08:34,559 --> 00:08:36,760 Speaker 1: like taking on a not alone that you couldn't afford 184 00:08:36,840 --> 00:08:39,000 Speaker 1: me have been like the happy medium for a lot 185 00:08:39,000 --> 00:08:42,600 Speaker 1: of folks. Yeah, the activity du jure back in the Bay, Yeah, well, 186 00:08:43,160 --> 00:08:45,800 Speaker 1: I mean I just yeah, I think when you're refinancing, 187 00:08:45,800 --> 00:08:49,079 Speaker 1: the goal is should be not to pay the lowest 188 00:08:49,080 --> 00:08:52,840 Speaker 1: amount in your monthly payment. It is to get rid 189 00:08:52,880 --> 00:08:55,120 Speaker 1: of that loan as quickly as possible, or it should 190 00:08:55,160 --> 00:08:57,120 Speaker 1: be so it's not like how little can I pay 191 00:08:57,160 --> 00:09:00,200 Speaker 1: every month to get rid of this car payment? And 192 00:09:00,320 --> 00:09:02,880 Speaker 1: who cares how long? It's how much can I pay 193 00:09:02,880 --> 00:09:04,320 Speaker 1: in order to get rid of this car debt as 194 00:09:04,360 --> 00:09:06,800 Speaker 1: soon as possible? That really should be the thinking. We're 195 00:09:06,880 --> 00:09:09,600 Speaker 1: payment buyers in this country, right, and that's not a 196 00:09:09,600 --> 00:09:13,400 Speaker 1: good thing. On another nefarious car financing note, Matt More, 197 00:09:13,400 --> 00:09:15,880 Speaker 1: car dealers are talking up the ten thousand dollars annual 198 00:09:15,960 --> 00:09:18,560 Speaker 1: tax break that you can snag when you buy a 199 00:09:18,600 --> 00:09:20,839 Speaker 1: new car finished in the good old US of A. 200 00:09:21,480 --> 00:09:25,040 Speaker 1: And this was infused into the Build Back No what 201 00:09:25,120 --> 00:09:26,960 Speaker 1: is it called the One Big Beautiful Bill Act? Right? 202 00:09:27,040 --> 00:09:30,240 Speaker 1: Build Back Better? That's all these BBB's, right, which just 203 00:09:30,320 --> 00:09:32,559 Speaker 1: sounds so enticing when you're buying a new car and 204 00:09:32,559 --> 00:09:35,000 Speaker 1: the FNI person is saying, hey, this is such a 205 00:09:35,040 --> 00:09:37,600 Speaker 1: great deal, like you're going to get a tax break 206 00:09:37,720 --> 00:09:39,920 Speaker 1: of the ten thousand dollars. Yeah, yeah, yeah, tax breaks. 207 00:09:39,920 --> 00:09:41,560 Speaker 1: Look how great this is? And they're making it sound 208 00:09:41,600 --> 00:09:44,240 Speaker 1: like it's the best thing since sliced bread. Holy callous. 209 00:09:44,280 --> 00:09:45,920 Speaker 1: A lot of money, right, But it's kind of like 210 00:09:46,000 --> 00:09:49,960 Speaker 1: the homeowner's tax break, right that many people don't actually get. 211 00:09:50,040 --> 00:09:52,400 Speaker 1: Something like ten percent of homeowners actually get the tax break, 212 00:09:52,600 --> 00:09:55,000 Speaker 1: but many more think they're getting a tax break for 213 00:09:55,360 --> 00:09:57,600 Speaker 1: owning a home. And the truth is you're only going 214 00:09:57,640 --> 00:09:59,560 Speaker 1: to get the highest annual tax break if you buy 215 00:09:59,600 --> 00:10:02,440 Speaker 1: one hundred than fifty thousand dollars car. Finance is seven 216 00:10:02,440 --> 00:10:04,640 Speaker 1: percent one hundred and fifty thousand dollars car. So who 217 00:10:04,800 --> 00:10:07,319 Speaker 1: do those exist? I'm sure, yeah, of course they do. 218 00:10:07,440 --> 00:10:09,959 Speaker 1: But like you're a psycho, if you're like or you're 219 00:10:10,000 --> 00:10:12,400 Speaker 1: incredibly rich much you have much more money, yeah than 220 00:10:12,400 --> 00:10:14,840 Speaker 1: the two of us. But on a forty thousand dollars 221 00:10:14,840 --> 00:10:17,280 Speaker 1: new car purchase at the same interest rate, your tax 222 00:10:17,320 --> 00:10:19,680 Speaker 1: savings would be a little over five hundred bucks. So 223 00:10:19,720 --> 00:10:21,480 Speaker 1: think about that. Are you going to go buy a 224 00:10:21,520 --> 00:10:23,839 Speaker 1: forty thousand dollars new car finance it at seven percent 225 00:10:23,840 --> 00:10:26,320 Speaker 1: in order to save five hundred bucks a year? I mean, 226 00:10:26,320 --> 00:10:29,640 Speaker 1: that would be foolhardy. You Also, you know, you don't 227 00:10:29,679 --> 00:10:32,319 Speaker 1: qualify if you're single making more than one hundred thousand 228 00:10:32,320 --> 00:10:34,439 Speaker 1: dollars or if you're married making more than two hundred 229 00:10:34,480 --> 00:10:36,959 Speaker 1: thousand dollars, can't imagine buying one hundred and fifty thousand 230 00:10:36,960 --> 00:10:39,839 Speaker 1: dollars car if you know that's where you're how much 231 00:10:39,880 --> 00:10:42,280 Speaker 1: money you're earning. Also, a lot of makes and models 232 00:10:42,280 --> 00:10:45,120 Speaker 1: don't qualify, so you got to check the vin first. 233 00:10:45,160 --> 00:10:47,840 Speaker 1: You can do that on the NITSA website. But you know, 234 00:10:48,080 --> 00:10:50,480 Speaker 1: while this tax break is better than nothing, I guess 235 00:10:50,559 --> 00:10:53,000 Speaker 1: I think it's actually the offering the wrong kind of 236 00:10:53,000 --> 00:10:55,600 Speaker 1: incentive to people, Matt to get Hey, yeah, finance that 237 00:10:55,640 --> 00:10:57,320 Speaker 1: car so you can get a tax break for it. 238 00:10:57,400 --> 00:10:59,080 Speaker 1: And really it's still a drop in the bucket of 239 00:10:59,080 --> 00:11:00,960 Speaker 1: the cost of your new cars. So this is just 240 00:11:01,200 --> 00:11:03,520 Speaker 1: bad math if you're buying a new car because you 241 00:11:03,520 --> 00:11:05,360 Speaker 1: think you're gonna save a little bit of money on taxes. 242 00:11:05,440 --> 00:11:08,040 Speaker 1: That's right, man. I wonder if we are now at 243 00:11:08,200 --> 00:11:11,120 Speaker 1: a tipping point in the job market, because obviously sound 244 00:11:11,160 --> 00:11:14,559 Speaker 1: like there tipping point. It was a popular book. Man. 245 00:11:14,600 --> 00:11:16,439 Speaker 1: I'm thinking about like the post pandemic times, right, like 246 00:11:16,480 --> 00:11:19,360 Speaker 1: that was a killer period of time for workers. Getting 247 00:11:19,360 --> 00:11:22,600 Speaker 1: a new job was just leading to record pay increases 248 00:11:22,679 --> 00:11:26,520 Speaker 1: because the demand for employees, it was incredibly steep. The 249 00:11:26,559 --> 00:11:30,480 Speaker 1: supply of folks for those jobs was limited, But then 250 00:11:30,760 --> 00:11:34,200 Speaker 1: we've seen that level out and unemployment numbers are still 251 00:11:34,240 --> 00:11:36,800 Speaker 1: actually good historically, but the job market just feels a 252 00:11:36,800 --> 00:11:40,520 Speaker 1: little stagnant, and we've seen more recent reports of just 253 00:11:40,600 --> 00:11:44,599 Speaker 1: bigger name companies out there cutting head counts by significantly, 254 00:11:44,640 --> 00:11:47,720 Speaker 1: like tens of thousands of employees. I'm specifically thinking of 255 00:11:48,000 --> 00:11:52,000 Speaker 1: Ups and Amazon who target maybe too. And at the 256 00:11:52,000 --> 00:11:55,400 Speaker 1: same time, worries about artificial intelligence, how that's going to 257 00:11:55,480 --> 00:11:59,160 Speaker 1: impact the job market, Those questions abound, and we do 258 00:11:59,240 --> 00:12:02,760 Speaker 1: see the signs that it is impacting young folks, specifically 259 00:12:02,880 --> 00:12:05,880 Speaker 1: at entry level jobs, and I think it's a problem 260 00:12:05,920 --> 00:12:08,160 Speaker 1: that could compound even more as those entry level jobs 261 00:12:08,200 --> 00:12:11,600 Speaker 1: lay are typically the gateway into more permanent, more higher 262 00:12:11,640 --> 00:12:14,760 Speaker 1: paying jobs. Right. You don't typically take some of those 263 00:12:14,840 --> 00:12:17,280 Speaker 1: initial jobs because you think it's just a fantastic job, 264 00:12:17,320 --> 00:12:19,720 Speaker 1: but it's the opportunity and it being more of a 265 00:12:19,720 --> 00:12:23,280 Speaker 1: stepping stone, and that's that feels like a problem, that's 266 00:12:23,360 --> 00:12:26,520 Speaker 1: just kind of that we're speeding towards, still off pretty 267 00:12:26,520 --> 00:12:28,160 Speaker 1: far off the distance, but especially as some of these 268 00:12:28,200 --> 00:12:30,640 Speaker 1: during workers are trying to just get their foot in 269 00:12:30,679 --> 00:12:34,120 Speaker 1: the door and to get into some of these companies 270 00:12:34,120 --> 00:12:35,920 Speaker 1: that they want to work. For sure, it's yeah, it's 271 00:12:35,920 --> 00:12:39,319 Speaker 1: a little worrisome to see college grads getting a degree 272 00:12:39,440 --> 00:12:42,040 Speaker 1: and then coming out in a time where it feels 273 00:12:42,080 --> 00:12:44,440 Speaker 1: like some of those starter jobs are harder to come by, 274 00:12:44,720 --> 00:12:48,000 Speaker 1: because you're right, those starter jobs lead to careers that 275 00:12:48,080 --> 00:12:51,280 Speaker 1: eventually lead lead to moving up and lead to earning more. 276 00:12:51,320 --> 00:12:53,160 Speaker 1: And if you can't get the starter job, it's hard 277 00:12:53,160 --> 00:12:54,560 Speaker 1: to get on that track. How they get out those 278 00:12:54,559 --> 00:12:58,640 Speaker 1: lower percentile income brackets. Yeah, still, I don't think I 279 00:12:58,679 --> 00:13:01,880 Speaker 1: would overreact to some of these headlines. I think far 280 00:13:02,000 --> 00:13:04,880 Speaker 1: fewer people think that AI is a threat to their 281 00:13:04,960 --> 00:13:07,200 Speaker 1: job then think it's going to impact the job market 282 00:13:07,280 --> 00:13:09,640 Speaker 1: in general if you look at the statistics, so kind 283 00:13:09,640 --> 00:13:11,040 Speaker 1: of like so many other things in this life, it's 284 00:13:11,120 --> 00:13:14,760 Speaker 1: less personal pessimism like oh AI is going to mess 285 00:13:14,800 --> 00:13:17,319 Speaker 1: me over, and it's more of like a general wariness. 286 00:13:17,440 --> 00:13:20,120 Speaker 1: I'm not sure how AI is going to impact the 287 00:13:20,320 --> 00:13:24,640 Speaker 1: job the way jobs function in this country overall. And 288 00:13:24,679 --> 00:13:26,960 Speaker 1: I'd say the two of us, Matt, we're banking on 289 00:13:27,000 --> 00:13:29,720 Speaker 1: the fact that AI is going to make workers more 290 00:13:29,800 --> 00:13:32,760 Speaker 1: productive kind of like the computers kind of like Internet, 291 00:13:33,120 --> 00:13:36,440 Speaker 1: an internetimistic here, Yeah, and that it's not going to 292 00:13:36,480 --> 00:13:39,920 Speaker 1: be an existential threat to labor as a whole, but 293 00:13:39,960 --> 00:13:41,320 Speaker 1: they're going to be growing pains, and I think we're 294 00:13:41,360 --> 00:13:43,400 Speaker 1: seeing some of those growing pains. They are going to 295 00:13:43,400 --> 00:13:47,560 Speaker 1: be layoffs in some sectors, probably specifically in the tech sector, 296 00:13:47,880 --> 00:13:50,560 Speaker 1: but I'm pretty sure we're also see companies that let 297 00:13:50,640 --> 00:13:54,520 Speaker 1: too many workers go because of AI like rehiring in 298 00:13:54,559 --> 00:13:56,360 Speaker 1: the coming years. I think they're going to be like, oh, hey, 299 00:13:56,400 --> 00:13:58,120 Speaker 1: it's going to change everything. Let's call the workforce, and 300 00:13:58,160 --> 00:14:00,480 Speaker 1: then they're going to realize we hold too much. We 301 00:14:00,760 --> 00:14:02,319 Speaker 1: need some of those people back, and I think they're 302 00:14:02,360 --> 00:14:04,679 Speaker 1: gonna regret some of the some of the layoffs that 303 00:14:04,720 --> 00:14:08,160 Speaker 1: they made. So's it's a little consolation for current job 304 00:14:08,200 --> 00:14:10,400 Speaker 1: seekers serving a tough time. But I just don't think 305 00:14:10,400 --> 00:14:12,800 Speaker 1: these hiring frees are gonna last forever sure, or the 306 00:14:12,840 --> 00:14:15,400 Speaker 1: folks who are getting cut right, because it is it 307 00:14:15,400 --> 00:14:17,120 Speaker 1: feels like a tailff two job markets right, because it 308 00:14:17,160 --> 00:14:19,600 Speaker 1: depends on it totally depends on the type of job 309 00:14:19,600 --> 00:14:22,240 Speaker 1: you have. If it if you are in a more administrative, 310 00:14:22,760 --> 00:14:26,800 Speaker 1: more data review or of job that involves a lot 311 00:14:26,840 --> 00:14:30,800 Speaker 1: of digital monotony, not monotony, but like digital repetition, Like 312 00:14:30,840 --> 00:14:32,760 Speaker 1: these are one hundred percent the types of jobs that 313 00:14:32,800 --> 00:14:34,640 Speaker 1: are going to be replaced, and so if you are 314 00:14:35,400 --> 00:14:39,000 Speaker 1: in that kind of a field, you probably are thinking no, no, no. 315 00:14:39,240 --> 00:14:43,360 Speaker 1: For me, this is totally personal, yeah, as I play paralegals, 316 00:14:43,440 --> 00:14:46,440 Speaker 1: like that's a job that's like up for extinction as 317 00:14:46,440 --> 00:14:49,120 Speaker 1: opposed to the jobs that are going to be more 318 00:14:49,160 --> 00:14:53,920 Speaker 1: difficult to replace, like healthcare or skilled skill trades or 319 00:14:54,160 --> 00:14:57,240 Speaker 1: you know, teachers even right, like I could one d 320 00:14:57,320 --> 00:14:59,680 Speaker 1: percent see AI being more of like the assistant in 321 00:14:59,720 --> 00:15:01,520 Speaker 1: this in a similar way that we can't envision our 322 00:15:01,560 --> 00:15:03,920 Speaker 1: life now without the Internet. And that's so much of 323 00:15:03,960 --> 00:15:05,880 Speaker 1: it too, man, the fear of the unknown as we 324 00:15:05,880 --> 00:15:08,400 Speaker 1: look ahead, Like you mentioned that the Internet being a 325 00:15:08,400 --> 00:15:10,880 Speaker 1: good example, Well that's easy now as we look back 326 00:15:10,920 --> 00:15:13,680 Speaker 1: and we are able to directly see all the industries 327 00:15:13,720 --> 00:15:16,000 Speaker 1: and jobs that have been created because of the Internet. 328 00:15:16,200 --> 00:15:18,240 Speaker 1: But we're at the very beginning of this as we're 329 00:15:18,400 --> 00:15:21,000 Speaker 1: projecting and looking forward, and it's just for a lot 330 00:15:21,000 --> 00:15:24,320 Speaker 1: of people it's scary because we like the creativity and 331 00:15:24,360 --> 00:15:26,880 Speaker 1: the clairvoyance to know what's actually going to happen. I 332 00:15:26,920 --> 00:15:29,680 Speaker 1: don't know, but there will likely be some of that 333 00:15:29,720 --> 00:15:33,120 Speaker 1: creative destruction taking place and brand new sectors of jobs 334 00:15:33,120 --> 00:15:35,920 Speaker 1: that we're not even that aren't even on people's radars. 335 00:15:36,800 --> 00:15:40,160 Speaker 1: You think about the impact of the Internet, like you 336 00:15:40,200 --> 00:15:42,680 Speaker 1: think about the dot com bubble and all of the 337 00:15:42,720 --> 00:15:46,200 Speaker 1: companies that we're trying to do something novel because the 338 00:15:46,240 --> 00:15:49,320 Speaker 1: Internet now existed, and so many of those companies no 339 00:15:49,400 --> 00:15:53,400 Speaker 1: longer exist. Like there is even in particular, as new 340 00:15:53,440 --> 00:15:58,880 Speaker 1: technologies are coming into the mainstream, there are a lot 341 00:15:58,880 --> 00:16:01,840 Speaker 1: of new startups like vying to be the next successful 342 00:16:01,840 --> 00:16:04,240 Speaker 1: company that are gonna that they're gonna they're they're gonna 343 00:16:04,320 --> 00:16:07,080 Speaker 1: change right how we all interact with AI. Some of 344 00:16:07,080 --> 00:16:08,960 Speaker 1: them are going to be highly successful, and many of 345 00:16:08,960 --> 00:16:11,320 Speaker 1: them will fall by the wayside, and that is kind 346 00:16:11,360 --> 00:16:15,880 Speaker 1: of part of how the economic cycle of new technology works, 347 00:16:15,920 --> 00:16:18,360 Speaker 1: and they're winners and losers in it. But that's like 348 00:16:18,400 --> 00:16:21,440 Speaker 1: cool comfort for somebody in the job market who feels 349 00:16:21,800 --> 00:16:24,920 Speaker 1: like put out the pasture directly under threat. Yeah, it 350 00:16:24,920 --> 00:16:27,840 Speaker 1: feels they're geting the heisman when they're looking for jobs 351 00:16:27,880 --> 00:16:29,680 Speaker 1: because the market's tough and because there's a lot of 352 00:16:30,040 --> 00:16:32,680 Speaker 1: kind of AI turmoil happening, a lot of these companies 353 00:16:32,680 --> 00:16:35,240 Speaker 1: are looking to get leaner. On a related note, did 354 00:16:35,280 --> 00:16:38,320 Speaker 1: you see the Business Insider story about folks who are 355 00:16:38,920 --> 00:16:41,640 Speaker 1: basically taking like their side gigs and not side gig 356 00:16:41,640 --> 00:16:43,720 Speaker 1: as in like driving for Uber or Left or whatever, 357 00:16:43,760 --> 00:16:46,880 Speaker 1: but like a side business finding ways to diversify their income, 358 00:16:47,000 --> 00:16:50,000 Speaker 1: essentially because they are a little concerned about the prospects 359 00:16:50,080 --> 00:16:52,720 Speaker 1: of their future at that company. And this is something 360 00:16:52,760 --> 00:16:56,360 Speaker 1: we've talked about it's like for a while. Yeah, essentially, 361 00:16:56,760 --> 00:16:58,760 Speaker 1: the reason you and I initially started investing in real 362 00:16:58,840 --> 00:17:02,400 Speaker 1: estate was to happen like another stream of income, not 363 00:17:02,520 --> 00:17:04,520 Speaker 1: just like building up money in our four oh one k's, 364 00:17:04,840 --> 00:17:06,600 Speaker 1: but saying, like, okay, what does it look like that 365 00:17:06,760 --> 00:17:08,400 Speaker 1: it makes it easier than to launch out and start 366 00:17:08,400 --> 00:17:11,080 Speaker 1: your own small business because you're not fully reliant on 367 00:17:11,320 --> 00:17:14,080 Speaker 1: income from your day job exactly, which we felt personally 368 00:17:14,160 --> 00:17:17,840 Speaker 1: when we launched the podcasts almost a decade ago at 369 00:17:17,840 --> 00:17:21,000 Speaker 1: this point, no, not quite that long. But I do 370 00:17:21,080 --> 00:17:22,840 Speaker 1: think it comes down to the individual because it makes 371 00:17:22,880 --> 00:17:27,280 Speaker 1: me think about some folks who are more like like 372 00:17:27,720 --> 00:17:29,800 Speaker 1: they're more of the renaissance man or a woman, right, 373 00:17:29,840 --> 00:17:31,520 Speaker 1: like they're more of a polymath, and if you are 374 00:17:31,520 --> 00:17:34,160 Speaker 1: the type of person who can take on different roles, 375 00:17:34,840 --> 00:17:39,920 Speaker 1: who can be more adaptive to the changing markets out there, 376 00:17:39,920 --> 00:17:42,360 Speaker 1: I think that this is a path that you could 377 00:17:42,359 --> 00:17:43,840 Speaker 1: take that could serve you well. But I do think 378 00:17:43,840 --> 00:17:47,920 Speaker 1: that there are some folks who are specialists. They're experts 379 00:17:48,040 --> 00:17:51,080 Speaker 1: in their given field, and were they to divide their 380 00:17:51,119 --> 00:17:54,720 Speaker 1: attention away from their job, you would essentially lose that edge. 381 00:17:54,720 --> 00:17:56,920 Speaker 1: And so it's almost a path of Okay, which path 382 00:17:56,960 --> 00:17:59,880 Speaker 1: do I want to take? Given the constraints of time, right, 383 00:18:00,040 --> 00:18:01,560 Speaker 1: I can't do it. Also, which one am I going 384 00:18:01,600 --> 00:18:04,280 Speaker 1: to choose here? And I think a highly personal question. 385 00:18:04,640 --> 00:18:06,960 Speaker 1: It's very personal. I think it just takes knowing yourself 386 00:18:07,000 --> 00:18:09,120 Speaker 1: what kind of satisfaction you're getting out of your job. 387 00:18:09,119 --> 00:18:11,720 Speaker 1: Because I think for some folks to hear to see 388 00:18:11,760 --> 00:18:14,720 Speaker 1: the business, because they profiled all these success stories of like, oh, man, 389 00:18:14,760 --> 00:18:17,320 Speaker 1: he's making more money now with the side business and 390 00:18:17,480 --> 00:18:20,159 Speaker 1: it doesn't really matter that Microsoft let him go. I 391 00:18:20,160 --> 00:18:21,919 Speaker 1: think if there's someone who hears that and thinks, well, 392 00:18:21,920 --> 00:18:24,920 Speaker 1: that's what I need to do. But maybe for that person, man, 393 00:18:25,000 --> 00:18:27,040 Speaker 1: they are so well suited for their role in this 394 00:18:27,080 --> 00:18:29,680 Speaker 1: big company. And in fact, if they gave it a 395 00:18:29,680 --> 00:18:31,680 Speaker 1: little more attention to a little more effort. They could lead 396 00:18:31,720 --> 00:18:33,520 Speaker 1: this entire department. That kind of thing I don't want 397 00:18:33,520 --> 00:18:37,119 Speaker 1: to discount. Even though I'm highly entrepreneurial, there are some 398 00:18:37,160 --> 00:18:39,119 Speaker 1: folks who aren't. And like you said, I think it 399 00:18:39,160 --> 00:18:41,600 Speaker 1: is personal. It's good to know yourself agreed. Yeah, And 400 00:18:41,680 --> 00:18:44,919 Speaker 1: even just kind of thinking ahead about well, if you're worried, 401 00:18:44,960 --> 00:18:46,719 Speaker 1: if you are in that camp who's a little bit 402 00:18:46,760 --> 00:18:49,800 Speaker 1: worried about what's going to happen with AI, specifically in 403 00:18:49,840 --> 00:18:52,520 Speaker 1: regards to your job. I think planning ahead for a layoff. 404 00:18:52,720 --> 00:18:54,520 Speaker 1: We've got content about that up on the side of 405 00:18:54,520 --> 00:18:56,639 Speaker 1: how Tomney dot Com makes a lot of sense, like 406 00:18:56,720 --> 00:18:59,240 Speaker 1: financially getting your ducks in a row so that a 407 00:18:59,320 --> 00:19:02,960 Speaker 1: layoff doesn't hit you as hard as it otherwise. Would 408 00:19:03,320 --> 00:19:05,000 Speaker 1: you want to make hay while the sunshining right? You 409 00:19:05,040 --> 00:19:07,560 Speaker 1: want to the calm before the storm is the time 410 00:19:07,760 --> 00:19:10,920 Speaker 1: to prepare the ship, Matthew. So I just it's a 411 00:19:10,960 --> 00:19:13,159 Speaker 1: good smart to start thinking about that, whether that's streams 412 00:19:13,160 --> 00:19:15,840 Speaker 1: of income, whether that's saving more money, all the above. 413 00:19:16,440 --> 00:19:19,000 Speaker 1: We got more to get to on this episode, including 414 00:19:19,680 --> 00:19:22,119 Speaker 1: lunch is expensive. We'll get through that and more. Right 415 00:19:22,160 --> 00:19:32,560 Speaker 1: after this, sorrybody, we are back from the break. It 416 00:19:32,640 --> 00:19:35,280 Speaker 1: is now time for the ludicrous headline of the week, 417 00:19:35,359 --> 00:19:38,119 Speaker 1: and we have a selection this week from market Watch. 418 00:19:38,480 --> 00:19:42,480 Speaker 1: Headline reads, We're spending over one dollars a week on lunch. 419 00:19:42,880 --> 00:19:47,120 Speaker 1: How did ordering food at work become a luxury? Which? Man, 420 00:19:47,280 --> 00:19:50,480 Speaker 1: this article rubs me so the wrong way. I hate it. 421 00:19:50,800 --> 00:19:53,000 Speaker 1: I'm suppose you don't have like a tattoo of leftover 422 00:19:53,080 --> 00:19:55,240 Speaker 1: somewhere on everybody because you love leftovers more than anyone. 423 00:19:55,320 --> 00:19:59,679 Speaker 1: With my little deli container takeout plastic, yeah, is it 424 00:19:59,720 --> 00:20:01,800 Speaker 1: the is it the small, the medium or the large? 425 00:20:02,440 --> 00:20:04,960 Speaker 1: Most of my leftovers are in the medium. That would 426 00:20:05,000 --> 00:20:07,199 Speaker 1: be a cool tattoo. You should get that, Yeah, somewhere. 427 00:20:08,800 --> 00:20:12,440 Speaker 1: That's just way too committed to the whole the leftover game. 428 00:20:12,520 --> 00:20:14,760 Speaker 1: And no, this just rubs me the wrong way because 429 00:20:14,800 --> 00:20:18,919 Speaker 1: of the like, honestly, the expectation that this should be 430 00:20:18,960 --> 00:20:21,520 Speaker 1: something that someone should be able to afford, right, Like, 431 00:20:21,560 --> 00:20:27,280 Speaker 1: there's like this lifestyle entitlement that I so highly dislike. 432 00:20:27,320 --> 00:20:28,639 Speaker 1: And it's totally fine if you want to go out 433 00:20:28,640 --> 00:20:30,840 Speaker 1: there and spend that kind of money all lunch, but 434 00:20:30,920 --> 00:20:32,320 Speaker 1: you gotta be okay with it. You got to be 435 00:20:32,320 --> 00:20:33,840 Speaker 1: able to afford it. You got to know that you're 436 00:20:33,880 --> 00:20:35,480 Speaker 1: not going to be able to funnel those dollars towards 437 00:20:35,520 --> 00:20:37,920 Speaker 1: some other financial goal in your life. But to think 438 00:20:37,960 --> 00:20:41,560 Speaker 1: that it's this basic human rights so that that someone 439 00:20:41,560 --> 00:20:44,639 Speaker 1: should have seems preposterous. I think that's the thing that 440 00:20:44,720 --> 00:20:47,320 Speaker 1: hit me with this too, was like, how did ordering 441 00:20:47,359 --> 00:20:49,280 Speaker 1: food to work become a luxury? And it's like, eating 442 00:20:49,320 --> 00:20:52,399 Speaker 1: out for lunch every day of the week has always 443 00:20:52,440 --> 00:20:55,040 Speaker 1: been luxury. Yeah, of course that's a luxury. That's the 444 00:20:55,119 --> 00:20:56,880 Speaker 1: very definition of a luxury. Yeah, it's not a coach 445 00:20:56,920 --> 00:21:00,560 Speaker 1: handbag or something like that or whatever. It's a fancy 446 00:21:00,920 --> 00:21:03,760 Speaker 1: air Maze scarf. But it is totally a luxury to 447 00:21:03,760 --> 00:21:06,400 Speaker 1: think that you can eat out every single day and 448 00:21:07,160 --> 00:21:10,520 Speaker 1: not feel a massive impact on your budget. And one 449 00:21:10,560 --> 00:21:12,879 Speaker 1: hundred bucks a week, yeah, that's you're talking about like 450 00:21:13,200 --> 00:21:17,720 Speaker 1: four hundred plus dollars a month on food for lunch. 451 00:21:18,040 --> 00:21:20,119 Speaker 1: I can't imagine. I would love to run the numbers 452 00:21:20,160 --> 00:21:21,920 Speaker 1: on how much you and I spend on our lunches, 453 00:21:21,960 --> 00:21:24,800 Speaker 1: Like it's be hard to factor out because most of 454 00:21:24,800 --> 00:21:27,080 Speaker 1: the time it is leftovers from the dinner the night 455 00:21:27,119 --> 00:21:30,040 Speaker 1: before or for most folks, unfortunately, they're just like, yeah, 456 00:21:30,040 --> 00:21:31,879 Speaker 1: that's not worth keeping, and they just like scrape it 457 00:21:31,920 --> 00:21:33,800 Speaker 1: off into the trash can as opposed to sticking it. 458 00:21:33,800 --> 00:21:36,040 Speaker 1: It's like, Okay, no, that's a that's a medium deli 459 00:21:36,119 --> 00:21:39,560 Speaker 1: container size leftover that plus a couple eggs. You fry 460 00:21:39,600 --> 00:21:42,520 Speaker 1: it up. You got a nuke the leftovers, fry up 461 00:21:42,560 --> 00:21:45,199 Speaker 1: a couple eggs. I mean, that's like the definition of 462 00:21:46,080 --> 00:21:48,400 Speaker 1: decade of eating right there, with a yolk running over 463 00:21:48,480 --> 00:21:51,320 Speaker 1: the leftover braced beef that you oh my gosh, Like 464 00:21:51,480 --> 00:21:53,800 Speaker 1: I'm getting hungry. We haven't eaten lunch yet. I'm getting 465 00:21:53,840 --> 00:21:56,720 Speaker 1: hungry even thinking about that. Yeah, I think leftovers are 466 00:21:56,760 --> 00:22:00,240 Speaker 1: the answer here. And I think it's just also potting 467 00:22:00,240 --> 00:22:02,679 Speaker 1: yourself in the frame of mind to realize what is 468 00:22:02,840 --> 00:22:05,960 Speaker 1: a luxury and what isn't. I think if you and 469 00:22:06,000 --> 00:22:07,719 Speaker 1: maybe the only way you could go out to eat 470 00:22:07,800 --> 00:22:10,480 Speaker 1: lunch every day, Matt and not break the bank is 471 00:22:10,520 --> 00:22:12,239 Speaker 1: to go to the Costco food court. If you're doing that. 472 00:22:12,280 --> 00:22:13,760 Speaker 1: If you're doing that, you can probably forford to eat out, 473 00:22:13,800 --> 00:22:15,159 Speaker 1: But then you might not be the healthiest. You may 474 00:22:15,200 --> 00:22:17,080 Speaker 1: not be Oh my gosh. I was just talking Kate, 475 00:22:17,119 --> 00:22:19,480 Speaker 1: And now we're looking at pictures of like us, me 476 00:22:19,640 --> 00:22:21,440 Speaker 1: specifically back in the day, like before Kate and I 477 00:22:21,480 --> 00:22:24,200 Speaker 1: got married and I was poor man, like I was broke, 478 00:22:24,560 --> 00:22:27,200 Speaker 1: and I'm thinking through what did I eat? Because I 479 00:22:27,240 --> 00:22:29,680 Speaker 1: could tell from looking at the pictures that I'm my 480 00:22:29,760 --> 00:22:32,760 Speaker 1: skin didn't look at I was really skinny, and I 481 00:22:32,800 --> 00:22:34,640 Speaker 1: told her I was just like I didn't really cook 482 00:22:34,640 --> 00:22:36,320 Speaker 1: at home. I think I was just eating bowls of 483 00:22:36,400 --> 00:22:39,280 Speaker 1: cereal and like once a week I might go out 484 00:22:39,280 --> 00:22:41,640 Speaker 1: to McDonald's because back then they had like the value menu. 485 00:22:41,960 --> 00:22:45,239 Speaker 1: I get a cheeseburger, a side so expensive now I know, 486 00:22:45,320 --> 00:22:47,640 Speaker 1: a side salad, and then I'll get a parfait and 487 00:22:47,720 --> 00:22:49,520 Speaker 1: those three items, thinking that that was like a well 488 00:22:49,560 --> 00:22:53,200 Speaker 1: balanced meal. But in a similar way, you would also 489 00:22:53,200 --> 00:22:55,160 Speaker 1: be fooling yourself if you were going to the Costco 490 00:22:55,520 --> 00:22:58,280 Speaker 1: food court thinking that you're getting something similar. But any 491 00:22:58,760 --> 00:23:00,679 Speaker 1: just that, I think it's a really important thing to 492 00:23:00,680 --> 00:23:03,080 Speaker 1: mention though, it's just fast food is so crazy expensive 493 00:23:03,080 --> 00:23:04,800 Speaker 1: now too. You think you're going to save money by 494 00:23:04,840 --> 00:23:06,879 Speaker 1: going Okay, at least I'm gonna get fast food for 495 00:23:06,920 --> 00:23:10,560 Speaker 1: lunch instead. Sorry, no, that's expensive now. A big knac 496 00:23:10,600 --> 00:23:13,720 Speaker 1: meal is probably eleven or twelve dollars, and so you can. Yeah, 497 00:23:14,000 --> 00:23:16,320 Speaker 1: leftovers are way cheaper than that. By the way, I 498 00:23:16,359 --> 00:23:18,520 Speaker 1: didn't crush the numbers. I thought you were going to say, 499 00:23:18,600 --> 00:23:21,040 Speaker 1: we should run the numbers on knowing what our lunch costs. Yeah, 500 00:23:21,080 --> 00:23:23,639 Speaker 1: I'll tell you what it costs. What is costing you? 501 00:23:23,720 --> 00:23:25,840 Speaker 1: Were you to go out to lunch every day at 502 00:23:25,880 --> 00:23:28,320 Speaker 1: work instead of taking that one hundred dollars and investing 503 00:23:28,320 --> 00:23:31,520 Speaker 1: it over a forty year career, you are looking at 504 00:23:31,520 --> 00:23:34,960 Speaker 1: over one million dollars in the bank over a typical 505 00:23:35,040 --> 00:23:38,120 Speaker 1: forty year career from that. Oh my gosh, I don't 506 00:23:38,119 --> 00:23:40,520 Speaker 1: know what is and that's yeah, it was almost over 507 00:23:40,640 --> 00:23:42,680 Speaker 1: a million dollars even with the seven percent return, but 508 00:23:42,920 --> 00:23:44,680 Speaker 1: way seven hundred dollars. If one hundred dollars a week, 509 00:23:45,320 --> 00:23:49,560 Speaker 1: four hundred a month invested, those returns compounded in forty years, 510 00:23:49,600 --> 00:23:51,679 Speaker 1: you're gonna have I forget what the number was. That's crazy. 511 00:23:52,280 --> 00:23:54,560 Speaker 1: At eight percent was like one point something, and at 512 00:23:54,680 --> 00:23:58,320 Speaker 1: seven it was nine thirty four nine hundred and thirty 513 00:23:58,359 --> 00:23:59,760 Speaker 1: four thousand or something like that. So seven and a 514 00:23:59,800 --> 00:24:02,400 Speaker 1: half percent got you just over that one mil mark? Dude, 515 00:24:02,440 --> 00:24:05,320 Speaker 1: are we too frugal? So impressive. Sometimes I wonder are 516 00:24:05,320 --> 00:24:07,840 Speaker 1: we too frugal now because we've got other goals. There's 517 00:24:07,880 --> 00:24:10,840 Speaker 1: other things that we want to pursue. And oh, actually 518 00:24:10,880 --> 00:24:13,840 Speaker 1: there's an article. Okay, so the frugal Habits article. You 519 00:24:13,840 --> 00:24:17,680 Speaker 1: want to one. Yeah, so folks who are like watering 520 00:24:17,720 --> 00:24:21,800 Speaker 1: down their dish soap, their toothpaste even I think, right stretch, 521 00:24:21,920 --> 00:24:24,359 Speaker 1: I don't. I'm all cutting the toothpaste tube open. I 522 00:24:24,400 --> 00:24:26,240 Speaker 1: know our friend Maggie does that. I've never done that. 523 00:24:26,359 --> 00:24:28,920 Speaker 1: I've never done that either. I mean to each their own, 524 00:24:29,000 --> 00:24:30,679 Speaker 1: you know, like you need to be able to spend 525 00:24:30,720 --> 00:24:33,600 Speaker 1: your money where it counts. But I'm all for folks 526 00:24:33,920 --> 00:24:36,920 Speaker 1: assessing their spending, figuring out what moves the needle for them, 527 00:24:37,040 --> 00:24:39,840 Speaker 1: and in the areas where it's not, to be able 528 00:24:39,880 --> 00:24:43,919 Speaker 1: to cut back ruthlessly. Man. And it's hard not to 529 00:24:44,000 --> 00:24:46,200 Speaker 1: judge other people spending, But like, I love it when 530 00:24:46,200 --> 00:24:48,120 Speaker 1: they profile people because it gives you an insight into 531 00:24:48,160 --> 00:24:49,720 Speaker 1: how it is that people are spending their money. And 532 00:24:49,720 --> 00:24:52,040 Speaker 1: there's like a they talk about a lady She's like, yeah, 533 00:24:52,080 --> 00:24:55,240 Speaker 1: we've had to cut back on our dogs toy subscription. 534 00:24:57,040 --> 00:24:58,359 Speaker 1: I know that was the thing, and I'm not going 535 00:24:58,400 --> 00:24:59,840 Speaker 1: to hand on the pets. You know, I don't even 536 00:24:59,880 --> 00:25:02,240 Speaker 1: know people know that I used to have a great 537 00:25:02,280 --> 00:25:04,120 Speaker 1: Dane way back in the day, and that great Dane 538 00:25:04,240 --> 00:25:06,679 Speaker 1: ate a lot of food. I'm all for pets, but 539 00:25:06,880 --> 00:25:12,359 Speaker 1: a toy subscription where like toys are getting delivered to 540 00:25:12,400 --> 00:25:15,760 Speaker 1: this house on the rag for the pet it just 541 00:25:15,760 --> 00:25:18,800 Speaker 1: seems so insane. Man. Well, I think this article too. 542 00:25:18,880 --> 00:25:21,000 Speaker 1: It was highlighting people who are going like kind of 543 00:25:21,080 --> 00:25:23,960 Speaker 1: super hard in the frugal direction, almost to like an 544 00:25:24,000 --> 00:25:26,960 Speaker 1: insane degree that most people would not do. And I 545 00:25:26,960 --> 00:25:29,439 Speaker 1: feel two ways about that, because in one way, I'm like, 546 00:25:29,840 --> 00:25:31,280 Speaker 1: I mean, I'm not gonna do that. I'm not going 547 00:25:31,359 --> 00:25:33,520 Speaker 1: to water down my soap that's probably one step too far, 548 00:25:33,600 --> 00:25:35,680 Speaker 1: or cut up with my toothpaste tube. But I think 549 00:25:35,760 --> 00:25:38,880 Speaker 1: in the other vein, when you're paying that close attention 550 00:25:39,440 --> 00:25:41,679 Speaker 1: to the resources that you're using and how much you're 551 00:25:41,720 --> 00:25:45,639 Speaker 1: spending on even everyday basics and necessities, you're just going 552 00:25:45,680 --> 00:25:47,600 Speaker 1: to make a lot more progress on the money goals 553 00:25:47,640 --> 00:25:50,080 Speaker 1: that you have. So I'd be curious to know from 554 00:25:50,119 --> 00:25:52,320 Speaker 1: how to money listeners like how far they're willing to 555 00:25:52,320 --> 00:25:55,520 Speaker 1: go in the frugal the most extreme things done baffle me, 556 00:25:55,200 --> 00:25:57,320 Speaker 1: send us an email how to money pot at gmail 557 00:25:57,480 --> 00:26:00,440 Speaker 1: dot com. Let us know how frugal you're getting, because yeah, 558 00:26:00,520 --> 00:26:01,760 Speaker 1: I think in some ways, I'm like, yeah, it's a 559 00:26:01,760 --> 00:26:03,240 Speaker 1: little weird, it's a little off putting. I'm not one 560 00:26:03,280 --> 00:26:05,800 Speaker 1: of those super cupon oter types, but I do think 561 00:26:05,840 --> 00:26:08,440 Speaker 1: some people really get into it and they can save 562 00:26:08,480 --> 00:26:09,720 Speaker 1: a lot of money, and then, you know what, it 563 00:26:09,760 --> 00:26:12,240 Speaker 1: allows them to spend money in the ways that they 564 00:26:12,240 --> 00:26:14,560 Speaker 1: care about while they're still able to save and invest. 565 00:26:14,600 --> 00:26:17,280 Speaker 1: And the other people out there are just lamenting why 566 00:26:17,280 --> 00:26:18,640 Speaker 1: does it cost so much to eat out now? While 567 00:26:18,640 --> 00:26:20,600 Speaker 1: they're still eating out every day, they're not really questioning 568 00:26:20,640 --> 00:26:23,840 Speaker 1: their choices. Yeah, you got to question that. So while 569 00:26:23,840 --> 00:26:25,679 Speaker 1: we're talking about soap, you know, the real way to 570 00:26:25,760 --> 00:26:28,239 Speaker 1: save when it comes to closed detergent is to make 571 00:26:28,280 --> 00:26:30,879 Speaker 1: your own I have I told you that we do that. 572 00:26:31,520 --> 00:26:34,000 Speaker 1: So this is an effort that was spearheaded not by me, 573 00:26:34,119 --> 00:26:36,080 Speaker 1: but by my wife because she was so sick of 574 00:26:36,359 --> 00:26:38,520 Speaker 1: because it's really expensive when you buy like this, even 575 00:26:38,560 --> 00:26:40,800 Speaker 1: the big ones from Costco's, it costs a lot of 576 00:26:40,840 --> 00:26:43,439 Speaker 1: money and you just it's like, what forty cents a 577 00:26:43,440 --> 00:26:45,080 Speaker 1: load or thirty I don't know. She felt that we 578 00:26:45,080 --> 00:26:48,240 Speaker 1: were ripping through those so like too quickly. So now 579 00:26:49,119 --> 00:26:50,919 Speaker 1: I don't know exactly what I'll have to ask her 580 00:26:50,920 --> 00:26:55,000 Speaker 1: over the weekend. But like you, it's borax. It's like 581 00:26:55,240 --> 00:26:57,840 Speaker 1: washing soda. You put like a drop of whatever essential 582 00:26:57,880 --> 00:26:59,600 Speaker 1: oils you want, and we've been doing that for like 583 00:26:59,640 --> 00:27:03,120 Speaker 1: months now. Okay, I will ask her and see what 584 00:27:03,160 --> 00:27:05,359 Speaker 1: the actual breakdown is per load. But she's like, oh, 585 00:27:05,800 --> 00:27:08,560 Speaker 1: we are sitting. According to her, we're saving a ton 586 00:27:08,600 --> 00:27:12,000 Speaker 1: of money by making our own clothes detergent. You gotta 587 00:27:12,000 --> 00:27:13,919 Speaker 1: share this kind of stuff with the world. That's what 588 00:27:13,920 --> 00:27:16,680 Speaker 1: I'm doing. Let us know the recipe. Yeah, we'll post 589 00:27:16,720 --> 00:27:19,280 Speaker 1: it or something. Yeah, we'll post it. I speaking of 590 00:27:19,320 --> 00:27:21,399 Speaker 1: doing chores, Matt, we're not paying a robot to do 591 00:27:21,440 --> 00:27:23,800 Speaker 1: your chores. How would you feel about that? You don't 592 00:27:23,840 --> 00:27:27,239 Speaker 1: talking about the neo? Yeah, so this is one is 593 00:27:27,240 --> 00:27:30,560 Speaker 1: interesting because it's insane. This is like, I don't know, 594 00:27:30,680 --> 00:27:32,959 Speaker 1: I'm not really necessarily interested in having a robot in 595 00:27:32,960 --> 00:27:35,520 Speaker 1: my home, but I think it's probably going to become 596 00:27:35,560 --> 00:27:38,439 Speaker 1: more common in the coming years, not just because of 597 00:27:38,440 --> 00:27:40,840 Speaker 1: the price tag, right, twenty grand how much this robot 598 00:27:40,880 --> 00:27:42,159 Speaker 1: cost her? I think you can pay like five or 599 00:27:42,160 --> 00:27:45,480 Speaker 1: six hundred bucks a month to lease it. Crazy, yeah, 600 00:27:45,760 --> 00:27:48,439 Speaker 1: But it's also the dystopian vibe vibes, like can't you 601 00:27:48,480 --> 00:27:50,879 Speaker 1: imagine treating that robot telling you to do all the 602 00:27:50,960 --> 00:27:53,040 Speaker 1: chores and then it just being like super pissed that 603 00:27:53,080 --> 00:27:55,520 Speaker 1: you treated it like Cinderella choking you out in your 604 00:27:55,520 --> 00:27:57,760 Speaker 1: sleep or something like that. That's the That's the image 605 00:27:57,800 --> 00:27:59,199 Speaker 1: I have in my head. I'm not worried about it, 606 00:27:59,240 --> 00:28:02,639 Speaker 1: but it's just it does feel so far removed that 607 00:28:02,720 --> 00:28:06,040 Speaker 1: it just is dumb, yeah, you know, or the current abilities. 608 00:28:06,160 --> 00:28:09,000 Speaker 1: The Wall Street Journal tech writer had spent a day 609 00:28:09,040 --> 00:28:11,280 Speaker 1: with this robot and it couldn't do anything like it 610 00:28:11,440 --> 00:28:15,000 Speaker 1: fumbled every task, so so stupid. This is I don't 611 00:28:15,040 --> 00:28:17,800 Speaker 1: get it. It's ridiculous. I couldn't be any less interested 612 00:28:17,960 --> 00:28:21,080 Speaker 1: in getting something like that, Like I couldn't. We did 613 00:28:21,160 --> 00:28:24,080 Speaker 1: rumba like the little Robot vacuum and even that, and 614 00:28:24,119 --> 00:28:26,320 Speaker 1: granted we had an older version of that thing, but 615 00:28:26,359 --> 00:28:28,800 Speaker 1: even that struggled at times to do a very specific 616 00:28:29,000 --> 00:28:32,280 Speaker 1: task that it was very much created to do. I've 617 00:28:32,280 --> 00:28:36,960 Speaker 1: been hoping that the robot lawnmowers would get those Evidently 618 00:28:37,000 --> 00:28:38,680 Speaker 1: are they okay, because it seems like that would save 619 00:28:38,720 --> 00:28:40,560 Speaker 1: a ton of money in time, Like that seems like 620 00:28:40,600 --> 00:28:42,960 Speaker 1: a great spot for a robot. But inside my house 621 00:28:43,000 --> 00:28:45,840 Speaker 1: doing my dishes and like I don't know, tending to 622 00:28:45,840 --> 00:28:49,239 Speaker 1: my children, just getting in the way, Like no, no, here, 623 00:28:49,320 --> 00:28:51,800 Speaker 1: here's the problem. So yes, the fact that it costs 624 00:28:51,880 --> 00:28:55,280 Speaker 1: so much money is ridiculous, but the whole equation needs 625 00:28:55,320 --> 00:28:57,760 Speaker 1: to be reversed. They like, they need to pay me 626 00:28:58,280 --> 00:28:59,680 Speaker 1: to be able to test drive this thing in my 627 00:28:59,720 --> 00:29:02,600 Speaker 1: own because I feel like they are now currently in 628 00:29:02,640 --> 00:29:06,080 Speaker 1: the game of acquiring and gathering data. This is why 629 00:29:06,120 --> 00:29:08,240 Speaker 1: Tesla is so great, right, Not only were they able 630 00:29:08,280 --> 00:29:11,400 Speaker 1: to create a successful EV company, but now they've got 631 00:29:11,480 --> 00:29:15,880 Speaker 1: these driving robots essentially like all across the country gathering 632 00:29:16,040 --> 00:29:18,360 Speaker 1: data for Tesla, and they use that data. I mean, 633 00:29:18,600 --> 00:29:21,640 Speaker 1: think about the amount of video data and experience that 634 00:29:21,680 --> 00:29:24,800 Speaker 1: they have in their servers and the ability to then 635 00:29:25,440 --> 00:29:28,480 Speaker 1: iterate using that data on future products to be able 636 00:29:28,520 --> 00:29:31,760 Speaker 1: to make them even more and more seamless. Like that 637 00:29:31,960 --> 00:29:35,800 Speaker 1: is the model, not this clunky yeah robot that the 638 00:29:35,880 --> 00:29:38,480 Speaker 1: user had asked to crack open a walnut and it 639 00:29:38,520 --> 00:29:40,480 Speaker 1: couldn't do it or something like that. Yeah, Well, in 640 00:29:40,560 --> 00:29:43,959 Speaker 1: early adopters always pay too much and get an inferior product. 641 00:29:44,040 --> 00:29:46,600 Speaker 1: And if you just wait, if you wait a few 642 00:29:46,680 --> 00:29:50,080 Speaker 1: years and you really want one of those robots to 643 00:29:50,120 --> 00:29:51,960 Speaker 1: do your chores for you, I guarantee you it's going 644 00:29:52,040 --> 00:29:53,640 Speaker 1: to cost a heck of a lot less money, and 645 00:29:53,640 --> 00:29:55,800 Speaker 1: it's going to be so much better than it currently is. 646 00:29:55,880 --> 00:29:58,400 Speaker 1: So maybe just don't not for the first gin totally 647 00:29:58,440 --> 00:30:01,760 Speaker 1: agree Jo. Let's talk about averag and this is given 648 00:30:01,800 --> 00:30:05,440 Speaker 1: the caveat that our show is of course ad supported, 649 00:30:05,480 --> 00:30:07,920 Speaker 1: so you know, we'll discuss the story with that acknowledgment. 650 00:30:09,000 --> 00:30:12,040 Speaker 1: But advertisements, ads, they're popping up in places that you 651 00:30:12,080 --> 00:30:15,840 Speaker 1: wouldn't have found them in the past. How do you say, so, Ted, 652 00:30:15,880 --> 00:30:19,160 Speaker 1: He writes a substack Joya, I believe is it? Joya? 653 00:30:19,160 --> 00:30:21,600 Speaker 1: I always always see it's a weird ge I always 654 00:30:21,600 --> 00:30:24,040 Speaker 1: want to say Geo because I always read his stuff, 655 00:30:24,080 --> 00:30:26,840 Speaker 1: but I never hear his name being said. But all right, 656 00:30:26,880 --> 00:30:28,840 Speaker 1: he's got one of the best substacks out there. He's 657 00:30:28,920 --> 00:30:32,280 Speaker 1: really smart, really thoughtful. But he he wrote about this recently. 658 00:30:32,480 --> 00:30:35,760 Speaker 1: Ads they're popping up on the screen of your car. 659 00:30:36,160 --> 00:30:40,640 Speaker 1: This is on jeep specifically. There it's highlighting the extended warranty. Well, 660 00:30:40,680 --> 00:30:43,800 Speaker 1: those warranties are thousands and thousands. They're so expensive they're 661 00:30:43,840 --> 00:30:48,840 Speaker 1: hardly ever worth it. But also Samsung has these really 662 00:30:48,880 --> 00:30:51,320 Speaker 1: expensive fridges now where ads are popping up there, so 663 00:30:51,360 --> 00:30:53,320 Speaker 1: you're you're you know, you're dropping thirty five hundred dollars 664 00:30:53,760 --> 00:30:56,640 Speaker 1: and then you've got it displaying ads. Yeah to you. 665 00:30:57,040 --> 00:30:58,760 Speaker 1: You got a screen on your fridge because you thought 666 00:30:58,760 --> 00:31:00,600 Speaker 1: it was cool, and now it's just serving you ads 667 00:31:00,600 --> 00:31:02,240 Speaker 1: all the time. Yeah. Yeah, I think this is an 668 00:31:02,320 --> 00:31:05,080 Speaker 1: argument for going low tech, writing things down on a 669 00:31:05,120 --> 00:31:07,800 Speaker 1: sheet of paper maybe instead of having the I don't know, 670 00:31:07,960 --> 00:31:11,320 Speaker 1: the day's agenda projected onto the front of your your 671 00:31:11,360 --> 00:31:13,320 Speaker 1: fancy fridge. And this is no, this is not a 672 00:31:13,440 --> 00:31:15,640 Speaker 1: knock against Samsung. I think they're a fantastic company. We've 673 00:31:15,640 --> 00:31:17,560 Speaker 1: got a lot of Samsung products, but I will not 674 00:31:17,680 --> 00:31:20,440 Speaker 1: be myself paying for that really fancy Samsung fridge. And 675 00:31:20,480 --> 00:31:23,240 Speaker 1: I think the problem the rub is when you pay 676 00:31:23,320 --> 00:31:25,680 Speaker 1: full price for something and it still comes with ads. 677 00:31:25,800 --> 00:31:29,840 Speaker 1: I don't mind having the trade off, like the streaming services, right, yeah, 678 00:31:29,960 --> 00:31:31,960 Speaker 1: you pay more for something so you don't have to 679 00:31:31,960 --> 00:31:33,960 Speaker 1: see the ads, right, And this is like the yeah, 680 00:31:34,000 --> 00:31:36,760 Speaker 1: and I love that the opposite. Hey, there's that trade 681 00:31:36,760 --> 00:31:38,640 Speaker 1: off and you have to decide for yourself. It makes 682 00:31:38,680 --> 00:31:40,760 Speaker 1: me think of you remember when we talked about Telly, 683 00:31:41,120 --> 00:31:44,120 Speaker 1: which was this fifty five inch television with like ads 684 00:31:44,120 --> 00:31:45,920 Speaker 1: at the bottom. I signed up where they never sent 685 00:31:45,960 --> 00:31:48,360 Speaker 1: me one. I don't know what happened to the company 686 00:31:48,360 --> 00:31:51,080 Speaker 1: at this point, but that I was willing. That's like 687 00:31:51,120 --> 00:31:53,080 Speaker 1: an informed trade offf where you're like, you're giving me 688 00:31:53,160 --> 00:31:57,080 Speaker 1: the TV for free, and yes, I'm subjecting myself to 689 00:31:57,160 --> 00:32:00,360 Speaker 1: more ads because of it, but I didn't pay. I'd 690 00:32:00,360 --> 00:32:02,120 Speaker 1: be really upset if I paid full price for a 691 00:32:02,200 --> 00:32:05,640 Speaker 1: nice TV and then they start popping up ads while 692 00:32:05,680 --> 00:32:09,040 Speaker 1: I'm not watching something like that would be incredibly frustrating. 693 00:32:09,320 --> 00:32:11,040 Speaker 1: But if they're going to give me the TV for 694 00:32:11,040 --> 00:32:13,120 Speaker 1: free and say, hey, ads are going to be on 695 00:32:13,160 --> 00:32:15,720 Speaker 1: whenever you're not watching your show, I think I would 696 00:32:15,760 --> 00:32:18,040 Speaker 1: be far more okay with that. That'd be kosher to me. 697 00:32:18,040 --> 00:32:21,680 Speaker 1: You're making that informed decision, yeah right, yeah, And like 698 00:32:21,760 --> 00:32:24,400 Speaker 1: we just end up paying with our attention so much 699 00:32:24,440 --> 00:32:26,360 Speaker 1: of the time now when these endless ads are served 700 00:32:26,400 --> 00:32:29,720 Speaker 1: our way. When it comes to social media, something estimates 701 00:32:29,760 --> 00:32:33,200 Speaker 1: show that four and ten posts are now ads, which 702 00:32:33,320 --> 00:32:36,440 Speaker 1: makes me question why we still use these services. Man. Well, yeah, 703 00:32:36,480 --> 00:32:39,680 Speaker 1: when you're thumbing through scrolling through Facebook or Instagram, yeah, 704 00:32:39,680 --> 00:32:41,920 Speaker 1: maybe you see a little bit of like your friend's contents, 705 00:32:41,960 --> 00:32:44,520 Speaker 1: but so much of its like influencers you don't actually 706 00:32:44,600 --> 00:32:48,719 Speaker 1: care about, or it's ads that you are not thrilled 707 00:32:48,720 --> 00:32:51,560 Speaker 1: to see something. It feels like half of the content 708 00:32:51,880 --> 00:32:54,760 Speaker 1: isn't the content you actually came there for. I totally agree. 709 00:32:54,840 --> 00:32:56,640 Speaker 1: And do you want to know a solution for that 710 00:32:57,240 --> 00:33:00,280 Speaker 1: aside from just deleting completely? Oh? Man, I totally saw all. 711 00:33:01,280 --> 00:33:02,480 Speaker 1: This is the kind of stuff that's fed to me. 712 00:33:02,520 --> 00:33:05,560 Speaker 1: This guy created like this five pound phone case and 713 00:33:05,560 --> 00:33:08,280 Speaker 1: it's basically like a weight that you stick your phone 714 00:33:08,280 --> 00:33:12,520 Speaker 1: in and this makes it look like the giant Zach 715 00:33:12,560 --> 00:33:14,840 Speaker 1: from the Save by the Bell phone essentially except for 716 00:33:14,880 --> 00:33:16,800 Speaker 1: your iPhone. So that's one way you can do it. 717 00:33:17,080 --> 00:33:20,320 Speaker 1: Another well, specifically on Instagrams, I've basically been off of 718 00:33:20,360 --> 00:33:23,280 Speaker 1: it for a solid year, and I think I've been 719 00:33:23,400 --> 00:33:25,640 Speaker 1: much happier because of that. But I've been on there 720 00:33:25,680 --> 00:33:29,160 Speaker 1: recently helping Kate because she's watching some ceramic arts stuff 721 00:33:29,160 --> 00:33:31,280 Speaker 1: on there, and we've been talking more about social media 722 00:33:31,800 --> 00:33:34,320 Speaker 1: and I came across the same thing. I was like, 723 00:33:34,400 --> 00:33:36,800 Speaker 1: oh my gosh, I'm scrolling through my feed. I'm like, 724 00:33:36,840 --> 00:33:38,720 Speaker 1: I don't follow this person. Why is this showing up? Yeah, 725 00:33:38,760 --> 00:33:41,680 Speaker 1: here's another ad, here's another sponsor post. You want to 726 00:33:41,680 --> 00:33:44,520 Speaker 1: know the secret why this is gonna be great for 727 00:33:44,800 --> 00:33:47,120 Speaker 1: everyone out there who is on Instagram. Go to the 728 00:33:47,160 --> 00:33:49,760 Speaker 1: top of your app where it says Instagram. Right, it's 729 00:33:49,760 --> 00:33:51,400 Speaker 1: like written in the script at the top middle of 730 00:33:51,440 --> 00:33:55,239 Speaker 1: your screen. Tap it and it'll drop down and you 731 00:33:55,280 --> 00:33:58,680 Speaker 1: can change it to your followers, like who it is 732 00:33:58,680 --> 00:34:01,440 Speaker 1: that you are following, I'm sorry you're following, and it'll 733 00:34:01,480 --> 00:34:05,120 Speaker 1: change the feed to just those actual folks, no ads, 734 00:34:05,160 --> 00:34:09,000 Speaker 1: no suggested posts. Does this seem illegal? And like I 735 00:34:09,040 --> 00:34:11,400 Speaker 1: even hasn't seem illegal. I just shocked. Why would that 736 00:34:11,440 --> 00:34:14,479 Speaker 1: be there? Yeah, because no one touches that. I guess 737 00:34:14,520 --> 00:34:16,440 Speaker 1: I don't know. It's crazy, like it's it's something like 738 00:34:16,960 --> 00:34:20,440 Speaker 1: it's either your your start or favorite posts or people 739 00:34:20,560 --> 00:34:23,440 Speaker 1: or something like that. But then it's literally just Also, 740 00:34:23,480 --> 00:34:25,759 Speaker 1: one of the other options is following, so only the 741 00:34:25,760 --> 00:34:27,840 Speaker 1: people that you're following don't serve ads. So I literally 742 00:34:27,840 --> 00:34:29,480 Speaker 1: did this last night. That's why I was excited to 743 00:34:29,480 --> 00:34:31,520 Speaker 1: share it because I was looking into it because I 744 00:34:31,520 --> 00:34:34,719 Speaker 1: was getting so fed up with why I was I'm like, 745 00:34:34,800 --> 00:34:36,560 Speaker 1: is there a way to see less of this other crap? 746 00:34:36,600 --> 00:34:38,799 Speaker 1: And that's evidently a way that you can do it. 747 00:34:38,920 --> 00:34:41,560 Speaker 1: Now that I've like spoken the system, spoken it into 748 00:34:41,560 --> 00:34:44,640 Speaker 1: the universe, I'm afraid that it's going to be disappearing soon. 749 00:34:44,920 --> 00:34:46,640 Speaker 1: But for all the how to Money listeners out there 750 00:34:46,640 --> 00:34:48,600 Speaker 1: for the time being, try it out there you go, 751 00:34:48,760 --> 00:34:50,799 Speaker 1: You're welcome. All right, Matt, that's gonna do it. For 752 00:34:51,080 --> 00:34:54,000 Speaker 1: this episode of How Too Money Podcast, I think we 753 00:34:54,000 --> 00:34:56,520 Speaker 1: should always refer to ourselves a we how too Money Podcast? 754 00:34:56,640 --> 00:34:59,600 Speaker 1: Should we say our actual corporation name and how we 755 00:34:59,640 --> 00:35:03,719 Speaker 1: file our taxes and in what state were incorporated? All right, 756 00:35:03,760 --> 00:35:05,640 Speaker 1: but we hope you found this helpful. You can find 757 00:35:05,640 --> 00:35:08,040 Speaker 1: links to some of the stories that we mentioned on 758 00:35:08,239 --> 00:35:10,799 Speaker 1: this episode up on our website at howtomoney dot com. 759 00:35:10,840 --> 00:35:12,799 Speaker 1: That's right, tons of other resources up there for you 760 00:35:12,840 --> 00:35:15,319 Speaker 1: as well. But until next time, Buddy, best friends are 761 00:35:15,360 --> 00:35:31,880 Speaker 1: best friends out? No ads, dude, that's crazy Boom. I 762 00:35:31,920 --> 00:35:33,279 Speaker 1: just went through my whole feed from the past twenty 763 00:35:33,280 --> 00:35:36,799 Speaker 1: four hours. It's amazing. It's not that bad. Then it 764 00:35:36,840 --> 00:35:38,879 Speaker 1: is a workaround because you have to do a couple 765 00:35:39,040 --> 00:35:42,560 Speaker 1: additional steps. But I'm guessing. I'm guessing that most people 766 00:35:42,560 --> 00:35:44,800 Speaker 1: aren't taking those additional steps to avoid it, right, And 767 00:35:45,320 --> 00:35:46,960 Speaker 1: I think there's going to be more widely known though 768 00:35:47,080 --> 00:35:49,239 Speaker 1: I don't know. I've never heard anybody talk about it. Yeah, 769 00:35:49,239 --> 00:35:50,240 Speaker 1: but it's amazing