1 00:00:00,120 --> 00:00:03,760 Speaker 1: Welcome to Had of Money. I'm Joel and I am Matt, 2 00:00:03,840 --> 00:00:10,039 Speaker 1: and today we're talking payment, unpaused CD, lattering, and caseless crazies. 3 00:00:28,200 --> 00:00:30,040 Speaker 1: That's right, buddy, this is our Friday Flight. We're gonna 4 00:00:30,080 --> 00:00:30,800 Speaker 1: talk about the. 5 00:00:30,680 --> 00:00:34,000 Speaker 2: Top headlines that we came across this weekend, specifically how 6 00:00:34,040 --> 00:00:36,919 Speaker 2: they're going to pertain to your money. By the way, 7 00:00:36,960 --> 00:00:38,640 Speaker 2: we call it the Friday flight because you know, when 8 00:00:38,680 --> 00:00:40,360 Speaker 2: you go to a brewery, you get a flight. It's 9 00:00:40,400 --> 00:00:42,599 Speaker 2: just a nice little tasting. 10 00:00:42,240 --> 00:00:44,760 Speaker 1: Platter of all the different Well, you're not committing to 11 00:00:44,920 --> 00:00:46,400 Speaker 1: a sixteen ounce of a beer that you're. 12 00:00:46,320 --> 00:00:48,720 Speaker 2: Like, oh no, my jam So man, I really like 13 00:00:48,760 --> 00:00:51,160 Speaker 2: going to breweries where they let you take your own 14 00:00:51,360 --> 00:00:55,200 Speaker 2: card and you can get your own Gilom beer poor 15 00:00:55,280 --> 00:00:58,920 Speaker 2: just announcer too, Yes, because I can at my leisure 16 00:00:59,400 --> 00:01:01,320 Speaker 2: sample the different beers. I went to one of those 17 00:01:01,920 --> 00:01:05,000 Speaker 2: BRIERI here locally that offers that beer was okay, But 18 00:01:05,080 --> 00:01:07,640 Speaker 2: this is the first time that I've ever experienced that 19 00:01:07,760 --> 00:01:11,120 Speaker 2: aspect of a brewery and I freaking loved it. To 20 00:01:11,120 --> 00:01:13,800 Speaker 2: make you feel powerful, well, it's just I love variety 21 00:01:13,880 --> 00:01:16,640 Speaker 2: and the ability for me to I think I literally 22 00:01:16,680 --> 00:01:19,399 Speaker 2: tried every single beer that they had tap and there's. 23 00:01:19,280 --> 00:01:19,800 Speaker 3: Like twelve of them. 24 00:01:19,800 --> 00:01:21,160 Speaker 1: Did you do like a suicide where you mix them 25 00:01:21,160 --> 00:01:21,600 Speaker 1: all together? 26 00:01:22,160 --> 00:01:24,040 Speaker 3: That would have been terrible, no joke. 27 00:01:24,840 --> 00:01:27,319 Speaker 2: I only spent like nine dollars and fifty eight cents 28 00:01:27,480 --> 00:01:29,560 Speaker 2: and I got to try every single beer that they had. 29 00:01:29,840 --> 00:01:33,320 Speaker 2: Maybe there's like one or two that wasn't quite my 30 00:01:33,400 --> 00:01:33,800 Speaker 2: jam and. 31 00:01:33,720 --> 00:01:34,760 Speaker 1: It didn't sound advertising. 32 00:01:34,880 --> 00:01:37,280 Speaker 2: Yeah, small tangent, But I think more breweries should totally 33 00:01:37,319 --> 00:01:39,759 Speaker 2: do that. Yeah, because I'm all about it. Because as 34 00:01:39,880 --> 00:01:41,800 Speaker 2: you just feel bad asking of our tender, it's like, hey, 35 00:01:41,840 --> 00:01:42,480 Speaker 2: can I get it you? 36 00:01:42,640 --> 00:01:44,240 Speaker 1: If I get a taste of that, can I get 37 00:01:44,240 --> 00:01:45,920 Speaker 1: take you to that one too? And that one too? Yeah. 38 00:01:46,000 --> 00:01:48,200 Speaker 2: No, they feel like you're wasting their time and then 39 00:01:48,240 --> 00:01:51,720 Speaker 2: you end up tipping more because anyway, side note, I 40 00:01:51,760 --> 00:01:54,400 Speaker 2: wanted to mention I was talking to my folks recently 41 00:01:54,800 --> 00:01:59,400 Speaker 2: and I am considering going back to Augusta, which is 42 00:01:59,400 --> 00:02:02,280 Speaker 2: where I grew up, in order to get my teeth cleaned. 43 00:02:02,480 --> 00:02:04,240 Speaker 2: It turns out that they still go to the dentist 44 00:02:04,480 --> 00:02:06,280 Speaker 2: that I went to when I was a kid, and 45 00:02:06,400 --> 00:02:09,200 Speaker 2: he also is still locked into the nineties because he's 46 00:02:09,200 --> 00:02:13,080 Speaker 2: only charging nineteen nineties prices. Oh, wow, versus what dentists 47 00:02:13,080 --> 00:02:15,400 Speaker 2: are charging here. It's so it's almost like a form of. 48 00:02:15,760 --> 00:02:16,960 Speaker 1: He didn't get the inflation memo. 49 00:02:17,160 --> 00:02:20,200 Speaker 2: No, no, But it's like local tourism or not local. 50 00:02:20,240 --> 00:02:22,880 Speaker 2: It's like medical tourism without having to go abroad. Yeah, 51 00:02:22,880 --> 00:02:25,080 Speaker 2: stay them to buy a plane ticket staying stateside. But 52 00:02:25,120 --> 00:02:26,400 Speaker 2: what are your thoughts on that you think this is 53 00:02:26,400 --> 00:02:28,360 Speaker 2: something I should I should consider doing? Or am I 54 00:02:28,400 --> 00:02:30,360 Speaker 2: being Is this a frugal move or is this is 55 00:02:30,360 --> 00:02:30,760 Speaker 2: this cheap? 56 00:02:30,800 --> 00:02:32,720 Speaker 1: Okay? So I like it for two reasons. One, you 57 00:02:32,760 --> 00:02:34,600 Speaker 1: get to visit your folks at the same time you 58 00:02:34,639 --> 00:02:36,880 Speaker 1: get a dental cleaning for a whole lot less money. 59 00:02:36,880 --> 00:02:38,680 Speaker 2: But my folks would say, I would rather you be 60 00:02:38,720 --> 00:02:41,280 Speaker 2: hanging with us rather than show up and then ask 61 00:02:41,320 --> 00:02:42,440 Speaker 2: we're not going to take that long. 62 00:02:42,600 --> 00:02:44,959 Speaker 1: You're jet for an hour, get your teeth clean, and 63 00:02:44,960 --> 00:02:47,160 Speaker 1: then come on back and hang out with them, which yeah, 64 00:02:47,200 --> 00:02:48,680 Speaker 1: I think is great. And plus I think that's what 65 00:02:48,760 --> 00:02:50,840 Speaker 1: it takes for you to actually go to the dentist, 66 00:02:51,440 --> 00:02:53,880 Speaker 1: so sort of money saving enticement. 67 00:02:53,560 --> 00:02:55,920 Speaker 2: Saying I don't yeah, we don't have dental So when 68 00:02:55,960 --> 00:02:58,320 Speaker 2: you pay out a pocket, you pay attention to all 69 00:02:58,320 --> 00:03:00,600 Speaker 2: the charges in one of which. 70 00:03:00,440 --> 00:03:02,880 Speaker 1: Is really how insurance should work most on a lot 71 00:03:02,919 --> 00:03:04,040 Speaker 1: more right, I was talking to. 72 00:03:03,960 --> 00:03:07,320 Speaker 2: A friend price conscious. Yeah, I am being price conscious. Unfortunately, 73 00:03:07,360 --> 00:03:09,560 Speaker 2: it probably has meant that I have avoided going. But 74 00:03:09,639 --> 00:03:11,920 Speaker 2: I don't have cavity, so I have something I deal with. 75 00:03:11,960 --> 00:03:13,440 Speaker 1: I was talking to a doctor friend recently and he 76 00:03:13,520 --> 00:03:15,000 Speaker 1: was talking about how I mean, I just wish I 77 00:03:15,000 --> 00:03:18,560 Speaker 1: could avoid insurance completely and just just go cash prices. 78 00:03:18,600 --> 00:03:21,240 Speaker 1: And I'm like, yeah, that's really the way a lot 79 00:03:21,280 --> 00:03:23,440 Speaker 1: of our insurance should work. The healthcare system so messed 80 00:03:23,520 --> 00:03:25,040 Speaker 1: up in so many ways. I don't think we can 81 00:03:25,080 --> 00:03:26,560 Speaker 1: solve that. Solve that today. 82 00:03:26,600 --> 00:03:29,560 Speaker 2: There are some doctors that are moving to that that model, yeah, 83 00:03:30,000 --> 00:03:32,160 Speaker 2: like and dentists work along that model a whole lot 84 00:03:32,200 --> 00:03:34,440 Speaker 2: more than traditional healthcare where you have access to them 85 00:03:34,520 --> 00:03:36,320 Speaker 2: and you pay a certain amount of every single years 86 00:03:36,360 --> 00:03:38,720 Speaker 2: instead of paying premiums for a health plan where you 87 00:03:38,760 --> 00:03:42,480 Speaker 2: have that what do you call it, Yeah, the concierge model. 88 00:03:42,600 --> 00:03:45,760 Speaker 2: So anyway they're talking about they're like, literally when you 89 00:03:45,800 --> 00:03:47,720 Speaker 2: sit down on his chair, like springs pop up, and 90 00:03:47,720 --> 00:03:49,920 Speaker 2: so he puts down a cushion on top of the 91 00:03:50,000 --> 00:03:53,120 Speaker 2: chair so that he doesn't have to get a new uh. 92 00:03:53,160 --> 00:03:57,480 Speaker 1: Never updates anything. That's how he keeps the prices anyway, 93 00:03:57,560 --> 00:03:58,360 Speaker 1: A man after your own. 94 00:03:58,280 --> 00:04:01,040 Speaker 2: Heart, you know, well, I love it, yes, because there 95 00:04:01,120 --> 00:04:03,320 Speaker 2: is a market for that. There is market for folks 96 00:04:03,360 --> 00:04:06,840 Speaker 2: who don't want the highest end experience where they hand 97 00:04:06,920 --> 00:04:10,040 Speaker 2: you like a seltzer or you know, and oh, could 98 00:04:10,040 --> 00:04:11,520 Speaker 2: I get you a warm towel. It's like no, no, no, no, 99 00:04:11,640 --> 00:04:13,640 Speaker 2: I'm just here to get my teeth jet yeah, for 100 00:04:13,680 --> 00:04:14,720 Speaker 2: as little money as possible. 101 00:04:14,840 --> 00:04:16,760 Speaker 1: Ye, yes, exactly. All right, let's move on. Let's get 102 00:04:16,760 --> 00:04:19,400 Speaker 1: to the stories we found interesting this week, our Friday 103 00:04:19,400 --> 00:04:22,279 Speaker 1: flight and Matt. Let's talk about student loans for a second. 104 00:04:22,360 --> 00:04:24,480 Speaker 1: We haven't touched on student loans in a minute because 105 00:04:24,600 --> 00:04:26,920 Speaker 1: there hasn't been much to discuss. But there is a 106 00:04:26,960 --> 00:04:31,080 Speaker 1: firm timeline now for student loan payments to begin, right, yeah, 107 00:04:31,120 --> 00:04:34,960 Speaker 1: and it that is all thanks to the debt ceiling negotiations, 108 00:04:35,000 --> 00:04:38,040 Speaker 1: which were just silly the whole way around. But it 109 00:04:38,160 --> 00:04:39,880 Speaker 1: sure looked like payments were going to resume towards the 110 00:04:40,000 --> 00:04:42,520 Speaker 1: end of the summer, no matter what the specific debt 111 00:04:42,720 --> 00:04:45,600 Speaker 1: timeline really depended on. Exactly when we were going to 112 00:04:45,680 --> 00:04:48,320 Speaker 1: hear from the Supreme Court on that forgiveness ruling, which 113 00:04:49,040 --> 00:04:51,440 Speaker 1: that could happen in a matter of weeks. But as 114 00:04:51,520 --> 00:04:53,440 Speaker 1: of now, because of that debt ceiling agreement, there is 115 00:04:53,520 --> 00:04:57,200 Speaker 1: a firm timeline with no possibility of another pause. So 116 00:04:57,400 --> 00:04:59,960 Speaker 1: how to money listeners? Everyone else too? With student loans, 117 00:05:00,320 --> 00:05:03,240 Speaker 1: you got to be prepared to start making payments starting 118 00:05:03,360 --> 00:05:06,719 Speaker 1: August thirtieth. Right, The Supreme Court, by the way, is 119 00:05:06,839 --> 00:05:08,359 Speaker 1: likely to make a ruling. Like I said in a 120 00:05:08,360 --> 00:05:11,920 Speaker 1: few weeks on the forgiveness forgiveness front, I wouldn't hold 121 00:05:11,960 --> 00:05:14,440 Speaker 1: your breath. It's unlikely that the Supreme Court is going 122 00:05:14,480 --> 00:05:17,239 Speaker 1: to uphold that executive action doing that ten or twenty 123 00:05:17,240 --> 00:05:20,479 Speaker 1: thousand dollars worth of the student loan forgiveness. I don't 124 00:05:20,480 --> 00:05:23,120 Speaker 1: think forgiveness is likely to occur. But when it comes 125 00:05:23,160 --> 00:05:25,919 Speaker 1: to student loan payments for restarting, let's say you're banking 126 00:05:25,960 --> 00:05:29,880 Speaker 1: on that forgiveness. Of course, the reality was eventually they 127 00:05:29,880 --> 00:05:32,760 Speaker 1: were going to restart, and you really have to, in 128 00:05:32,800 --> 00:05:34,640 Speaker 1: particular now that the writing is on the wall, that 129 00:05:34,680 --> 00:05:37,680 Speaker 1: it's a definite start making plans to reincorporate that payment 130 00:05:37,680 --> 00:05:39,720 Speaker 1: into your budget moving forward. Now that's right. 131 00:05:39,800 --> 00:05:41,200 Speaker 2: Yeah, honestly, I think this is going to be a 132 00:05:41,200 --> 00:05:44,920 Speaker 2: shock for tens of millions of Americans who actually I mean, 133 00:05:44,920 --> 00:05:47,159 Speaker 2: I think I saw that it's over forty million Americans 134 00:05:47,160 --> 00:05:50,400 Speaker 2: who have student loans, and I saw that the average 135 00:05:50,400 --> 00:05:53,120 Speaker 2: payment is around four hundred dollars a month. That is 136 00:05:53,160 --> 00:05:54,880 Speaker 2: a lot of money, and that is a lot of people. 137 00:05:55,120 --> 00:05:57,920 Speaker 2: So I'm actually really curious of the impact that this 138 00:05:58,000 --> 00:06:01,320 Speaker 2: might have on inflation as well. They were pocketing that 139 00:06:01,400 --> 00:06:04,240 Speaker 2: money before. It'll be really interesting to see, Like I 140 00:06:04,240 --> 00:06:06,400 Speaker 2: would not I'd be willing to bet money perhaps that 141 00:06:06,680 --> 00:06:09,120 Speaker 2: we see inflation continue to tick down over the course 142 00:06:09,160 --> 00:06:11,480 Speaker 2: of this year when more as there's less expendable income, 143 00:06:11,520 --> 00:06:13,800 Speaker 2: when more of your income goes towards debt, you know, 144 00:06:13,880 --> 00:06:16,840 Speaker 2: debt pay down and yeah, in debt maintenance, you're gonna 145 00:06:16,880 --> 00:06:18,440 Speaker 2: have less to spend on other things, and that's going 146 00:06:18,480 --> 00:06:20,000 Speaker 2: to bring prices down across the economy. 147 00:06:20,000 --> 00:06:20,520 Speaker 1: I think it's right. 148 00:06:20,520 --> 00:06:22,480 Speaker 2: I think for everything like everything from housing all the 149 00:06:22,520 --> 00:06:25,080 Speaker 2: way down to like the price of a drink. Right, sure, 150 00:06:25,160 --> 00:06:28,520 Speaker 2: the price of dental care as well. But of all 151 00:06:28,600 --> 00:06:30,679 Speaker 2: those folks who have had this student loans, I'm afraid 152 00:06:30,680 --> 00:06:33,000 Speaker 2: that maybe too many folks have had sort of like 153 00:06:33,040 --> 00:06:35,760 Speaker 2: an out of sight, out of mind approach to their loans. 154 00:06:36,440 --> 00:06:38,960 Speaker 2: And it's understandable that that's the case, because when you 155 00:06:39,000 --> 00:06:41,120 Speaker 2: haven't had to pay for over three years, you're going 156 00:06:41,160 --> 00:06:44,440 Speaker 2: to tend to forget about that liability. But depending on 157 00:06:44,600 --> 00:06:45,960 Speaker 2: you know how much it is that you owe and 158 00:06:46,000 --> 00:06:49,159 Speaker 2: how high that monthly payment is, it could likely come 159 00:06:49,200 --> 00:06:51,080 Speaker 2: as quite a shock for some folks out there. And 160 00:06:51,120 --> 00:06:54,760 Speaker 2: so hopefully you've been preparing, you've been saving, you've been 161 00:06:54,760 --> 00:06:57,480 Speaker 2: paying off maybe some of those other high interest rate 162 00:06:57,480 --> 00:06:59,840 Speaker 2: debts in your life, the credit card debts that are 163 00:07:00,000 --> 00:07:03,320 Speaker 2: closer to twenty percent, and we've been recommending for years now. Yeah, 164 00:07:03,360 --> 00:07:05,320 Speaker 2: and you've been using this as a way to make 165 00:07:05,360 --> 00:07:08,200 Speaker 2: more progress than you would have otherwise. But either way, 166 00:07:08,520 --> 00:07:10,640 Speaker 2: you've only got a few months to prepare, and it 167 00:07:10,720 --> 00:07:13,320 Speaker 2: is time to start tightening the belt so that you're 168 00:07:13,360 --> 00:07:15,640 Speaker 2: going to be ready for that payment to begin here 169 00:07:15,680 --> 00:07:17,640 Speaker 2: at the end of the summer. And again, because of 170 00:07:17,680 --> 00:07:21,640 Speaker 2: the way this is, this agreement came about, another pause 171 00:07:21,880 --> 00:07:25,200 Speaker 2: is not on the table. It's not like another yet 172 00:07:25,200 --> 00:07:28,520 Speaker 2: another kick of the can down the road like it 173 00:07:28,600 --> 00:07:29,640 Speaker 2: was being handled. 174 00:07:30,000 --> 00:07:33,000 Speaker 1: Over the past. The can few is firmly cemented in 175 00:07:33,040 --> 00:07:34,040 Speaker 1: place now that's right. 176 00:07:34,200 --> 00:07:37,080 Speaker 2: So, yeah, reconfigure your budget, you know, cut back where 177 00:07:37,120 --> 00:07:40,840 Speaker 2: you can now so that when those loan payments resume 178 00:07:41,120 --> 00:07:43,440 Speaker 2: your finances, they're not immediately going to get wrecked. 179 00:07:43,480 --> 00:07:45,680 Speaker 1: Yeah, exactly. You've had time. But even if you're like 180 00:07:45,840 --> 00:07:48,160 Speaker 1: you did kind of not really take some of the 181 00:07:48,200 --> 00:07:51,240 Speaker 1: steps that we discussed or encouraged folks to take, you 182 00:07:51,280 --> 00:07:53,600 Speaker 1: still have a little bit of time to reincorporate and 183 00:07:53,680 --> 00:07:56,520 Speaker 1: to get prepared. Right, don't let it smack you upside 184 00:07:56,520 --> 00:07:58,720 Speaker 1: the head. Come the end of August beginning September. All right, 185 00:07:58,760 --> 00:08:01,520 Speaker 1: let's talk about budgeting for a sea it, Matt. This 186 00:08:01,520 --> 00:08:04,560 Speaker 1: this student loan payment pause going away might cause some 187 00:08:04,600 --> 00:08:07,920 Speaker 1: folks to have to rethink budgeting, right. They might be like, 188 00:08:08,160 --> 00:08:11,520 Speaker 1: I kind of stopped budgeting and it just wasn't as 189 00:08:11,520 --> 00:08:13,800 Speaker 1: important to me for a while because I haven't needed to. Yeah, 190 00:08:13,840 --> 00:08:15,560 Speaker 1: I lost five hundred bucks a month that I was 191 00:08:15,880 --> 00:08:18,400 Speaker 1: going out the door. Now I got to keep, you know, 192 00:08:18,440 --> 00:08:20,520 Speaker 1: in my pocket, in my bank account. But a new 193 00:08:20,560 --> 00:08:24,360 Speaker 1: survey from Ally went into depth about how people decide 194 00:08:24,360 --> 00:08:26,280 Speaker 1: to budget, the specific way in which they choose to 195 00:08:26,320 --> 00:08:28,480 Speaker 1: do it, and they found that a lot of folks 196 00:08:28,560 --> 00:08:31,560 Speaker 1: sixty percent of folks still prefer the old fashioned method 197 00:08:31,600 --> 00:08:33,960 Speaker 1: of tracking their purchases with pen and paper, which is 198 00:08:34,679 --> 00:08:37,520 Speaker 1: that's very surprising to me, very surprising. I was shocked 199 00:08:37,720 --> 00:08:40,000 Speaker 1: align with it, but totally yeah. 200 00:08:40,200 --> 00:08:41,880 Speaker 2: I mean I feel like I'm kind of old school 201 00:08:42,320 --> 00:08:45,320 Speaker 2: with your Excel spreadsheets using Excel. But for folks that 202 00:08:45,320 --> 00:08:47,760 Speaker 2: are like literally using pen and paper, that's kind of 203 00:08:47,840 --> 00:08:48,560 Speaker 2: mind blowing to me. 204 00:08:48,679 --> 00:08:52,559 Speaker 1: I mean, what's what percentage use chisel and stone, right, 205 00:08:52,559 --> 00:08:55,200 Speaker 1: that's my question. But it really is whatever works for you, 206 00:08:55,280 --> 00:08:57,800 Speaker 1: it doesn't. We don't care which method you're using. If 207 00:08:57,800 --> 00:09:00,880 Speaker 1: you're writing hieroglyphics to track your finances, as long as 208 00:09:00,880 --> 00:09:02,520 Speaker 1: you're tracking them, right, if it works for you. But 209 00:09:02,960 --> 00:09:05,680 Speaker 1: if that's your thing. But if you are one of 210 00:09:05,679 --> 00:09:07,599 Speaker 1: the thirty three percent, which is another stap from the 211 00:09:07,640 --> 00:09:09,880 Speaker 1: survey of folks who have trouble sticking to a budget, 212 00:09:10,120 --> 00:09:12,400 Speaker 1: maybe try something new. Maybe if that's not quite working 213 00:09:12,440 --> 00:09:14,080 Speaker 1: out for you, If you tried to do the pen 214 00:09:14,160 --> 00:09:17,480 Speaker 1: to paper thing and it hasn't sufficed, check out some 215 00:09:17,480 --> 00:09:19,720 Speaker 1: sort of software or something that you cant an app 216 00:09:19,720 --> 00:09:21,880 Speaker 1: that you can have on your phone and managing your 217 00:09:21,920 --> 00:09:24,440 Speaker 1: finances more in a more online way. If that's going 218 00:09:24,480 --> 00:09:26,600 Speaker 1: to be helpful. We suggest checking out why and app. 219 00:09:26,640 --> 00:09:29,040 Speaker 1: That's a really great software that has helped a lot 220 00:09:29,040 --> 00:09:31,520 Speaker 1: of how the money listeners over the year. Maybe you 221 00:09:31,520 --> 00:09:33,480 Speaker 1: don't need that, Maybe you just need a zero based budget, 222 00:09:33,559 --> 00:09:36,200 Speaker 1: or or maybe you can just simplify your budget. Maybe 223 00:09:36,200 --> 00:09:37,840 Speaker 1: your budget needs to be less complex so you can 224 00:09:37,880 --> 00:09:39,920 Speaker 1: actually keep up with it. I actually have an article 225 00:09:39,920 --> 00:09:41,120 Speaker 1: on the website. We'll link to it in the show. 226 00:09:41,120 --> 00:09:43,840 Speaker 1: Not it's about different methods of budgeting that work for 227 00:09:43,840 --> 00:09:46,400 Speaker 1: different folks. It's not a one size fits all thing. 228 00:09:46,480 --> 00:09:48,679 Speaker 1: Can't just be like, go here, do this. This is 229 00:09:48,720 --> 00:09:51,800 Speaker 1: how you budget. So much depends on your personality. But 230 00:09:51,800 --> 00:09:53,360 Speaker 1: if you can find the thing that works for you 231 00:09:53,400 --> 00:09:55,680 Speaker 1: and stick to it, that's going to make all the difference. 232 00:09:55,760 --> 00:09:55,960 Speaker 3: Yeah. 233 00:09:56,040 --> 00:09:58,120 Speaker 2: So, actually, while we're talking about ally that you mentioned 234 00:09:58,120 --> 00:10:01,439 Speaker 2: that this is an Allay Alley survey that we're referring to. 235 00:10:01,520 --> 00:10:04,040 Speaker 2: I received an email recently and they said that they're 236 00:10:04,040 --> 00:10:06,360 Speaker 2: going to be updating the name of their checking account 237 00:10:06,480 --> 00:10:09,560 Speaker 2: and they're going to change the name to a spending account. 238 00:10:09,600 --> 00:10:11,720 Speaker 2: Which it took me a second to think about it. 239 00:10:11,679 --> 00:10:13,400 Speaker 1: And I realized that, oh, yeah, it makes sense. 240 00:10:13,440 --> 00:10:15,760 Speaker 2: The reason is called a checking account is because back 241 00:10:15,800 --> 00:10:17,880 Speaker 2: in the day, that's the account that you had tied 242 00:10:17,920 --> 00:10:20,240 Speaker 2: to your check book. Yeah, and nobody knows what that 243 00:10:20,640 --> 00:10:22,760 Speaker 2: is anymore. It's it's not called a checking account because 244 00:10:22,760 --> 00:10:24,960 Speaker 2: you should be checking in on it. It's called a 245 00:10:25,000 --> 00:10:27,920 Speaker 2: checking account because you literally wrote paper checks from it. 246 00:10:28,160 --> 00:10:32,320 Speaker 2: And we're older than the average millennial, so that I mean, 247 00:10:32,559 --> 00:10:35,360 Speaker 2: I certainly remember writing a lot of checks in my day. 248 00:10:35,440 --> 00:10:38,679 Speaker 2: Still write like one a month to the childcare place. 249 00:10:39,080 --> 00:10:41,640 Speaker 1: Yeah, there's like literally the only place one or two 250 00:10:41,679 --> 00:10:44,720 Speaker 1: people who still only accept checks and it's always checks me. 251 00:10:44,760 --> 00:10:45,439 Speaker 1: But for all the. 252 00:10:45,360 --> 00:10:47,920 Speaker 2: Other millennials out there, it makes it just makes sense. 253 00:10:47,960 --> 00:10:49,760 Speaker 2: I'm glad to see that they're moving along with the 254 00:10:49,800 --> 00:10:52,240 Speaker 2: times and they're calling things by how it is that 255 00:10:52,280 --> 00:10:55,080 Speaker 2: you interact with them, naming matters, you know, like this 256 00:10:55,120 --> 00:10:57,920 Speaker 2: is one of the reasons that we talk Maybe we 257 00:10:57,920 --> 00:10:59,600 Speaker 2: shouldn't be talking about this because I'm not sure if 258 00:10:59,600 --> 00:11:01,680 Speaker 2: we have enough to but HSA is health savings accounts. 259 00:11:01,679 --> 00:11:03,360 Speaker 2: It's one of the reasons we hate that because when 260 00:11:03,400 --> 00:11:06,079 Speaker 2: you hear health savings account, of course you think you 261 00:11:06,120 --> 00:11:08,760 Speaker 2: shouldn't be investing that money because it's called a savings account. 262 00:11:09,360 --> 00:11:12,720 Speaker 1: Save the money for healthcare expenses, and that is the 263 00:11:12,760 --> 00:11:15,280 Speaker 1: worst possible way to use that account if you're saving 264 00:11:15,320 --> 00:11:17,199 Speaker 1: further here. And yeah, so I don't know, I just 265 00:11:17,240 --> 00:11:19,319 Speaker 1: wanted to mention that because maybe that's the worst possibley 266 00:11:19,320 --> 00:11:20,840 Speaker 1: to use account. The wort possible way would be to 267 00:11:20,840 --> 00:11:22,520 Speaker 1: not use the account at all. Yeah, but the best 268 00:11:22,520 --> 00:11:24,400 Speaker 1: possible way is to invest inside of that account. 269 00:11:24,400 --> 00:11:26,199 Speaker 2: But yeah, you're right right, the way we names matter 270 00:11:26,760 --> 00:11:28,720 Speaker 2: And I was just glad to see Ali kind of 271 00:11:28,720 --> 00:11:30,679 Speaker 2: moving along with the times. Yeah, okay, So we've been 272 00:11:30,679 --> 00:11:33,400 Speaker 2: talking about the resurgence of cash a lot here on 273 00:11:33,440 --> 00:11:36,960 Speaker 2: the show. It's always been important. But savers, they got 274 00:11:37,040 --> 00:11:41,000 Speaker 2: crushed for more than a decade. We were experiencing meager 275 00:11:41,080 --> 00:11:45,000 Speaker 2: returns on our savings. As Jason's why. He wrote about 276 00:11:45,000 --> 00:11:48,160 Speaker 2: it in the Journal recently. He said the Federal Reserve 277 00:11:48,320 --> 00:11:50,760 Speaker 2: was all but ordering you to move your money. 278 00:11:50,600 --> 00:11:51,360 Speaker 3: Out of cash. 279 00:11:51,360 --> 00:11:52,040 Speaker 1: That's what it felt like. 280 00:11:52,080 --> 00:11:54,360 Speaker 2: It's definitely what it seemed like that they are doing. 281 00:11:54,720 --> 00:11:58,040 Speaker 2: But it doesn't anymore. But still for savers who have 282 00:11:58,280 --> 00:12:00,680 Speaker 2: been reluctant to move their money out of the big banks, 283 00:12:00,679 --> 00:12:04,200 Speaker 2: who aren't paying hardly anything at all, inflation has just 284 00:12:04,200 --> 00:12:07,800 Speaker 2: put them in an even worse position because the value 285 00:12:07,840 --> 00:12:09,679 Speaker 2: of your money if you have an account with one 286 00:12:09,679 --> 00:12:13,320 Speaker 2: of the big banks paying point zero four percent, that 287 00:12:13,360 --> 00:12:16,840 Speaker 2: money is getting destroyed much more quickly. It's deteriorating. And 288 00:12:16,880 --> 00:12:18,360 Speaker 2: so the only way to avoid it is to search 289 00:12:18,400 --> 00:12:22,000 Speaker 2: for higher yields elsewhere. Yeah, and those higher interest rates 290 00:12:22,000 --> 00:12:24,920 Speaker 2: they're not terribly hard to find. It's the best places 291 00:12:24,960 --> 00:12:27,679 Speaker 2: to look though, are Treasury bills, CDs, and plain old 292 00:12:27,800 --> 00:12:31,079 Speaker 2: high interest savings accounts. And CDs in particular, Matt, I 293 00:12:31,080 --> 00:12:34,000 Speaker 2: think they're looking more enticing in particular because you're able 294 00:12:34,040 --> 00:12:36,320 Speaker 2: to lock in a higher rate for a specific period 295 00:12:36,360 --> 00:12:39,160 Speaker 2: of time. Right like ciit is still crushing it on savings, 296 00:12:39,200 --> 00:12:42,719 Speaker 2: paying close to five percents, but CD ladding I think 297 00:12:42,800 --> 00:12:45,439 Speaker 2: is an effective strategy for folks who want to maximize 298 00:12:45,480 --> 00:12:48,040 Speaker 2: the returns of medium term savings that they're holding on to. 299 00:12:48,480 --> 00:12:51,600 Speaker 2: Eyebond's hot there for a minute. Not as attractive as 300 00:12:51,600 --> 00:12:54,640 Speaker 2: CDs right now, though you can lock in these rates 301 00:12:54,679 --> 00:12:57,079 Speaker 2: on CDs, by the way, for twelve, eighteen months or 302 00:12:57,120 --> 00:13:00,400 Speaker 2: even as little as like six months. And so I 303 00:13:00,480 --> 00:13:02,880 Speaker 2: think the ycds are so attractive right now is because 304 00:13:02,920 --> 00:13:06,120 Speaker 2: savings rates aren't guaranteed to remain elevated for months and 305 00:13:06,200 --> 00:13:08,600 Speaker 2: years to come, exactly like, we could see those rates 306 00:13:08,640 --> 00:13:12,199 Speaker 2: start to deteriorate. And so taking the bird in the hand, 307 00:13:12,360 --> 00:13:14,280 Speaker 2: if you don't need all of your savings to be 308 00:13:14,280 --> 00:13:18,280 Speaker 2: fully liquid, stocking away in chunks six, twelve, and eighteen 309 00:13:18,320 --> 00:13:21,559 Speaker 2: month increments chunks of your savings can make sense. That 310 00:13:21,800 --> 00:13:25,160 Speaker 2: strategy is called CD lattering. So if you've got let's 311 00:13:25,160 --> 00:13:28,040 Speaker 2: say fifty thousand dollars that you want to save, and 312 00:13:28,080 --> 00:13:31,160 Speaker 2: you'll need access to twenty of it in a liquid 313 00:13:31,200 --> 00:13:33,959 Speaker 2: savings account, well, great, take advantage of the Hyscher savings 314 00:13:33,960 --> 00:13:36,720 Speaker 2: account from somewhere like cit or ally or Capital one, 315 00:13:36,880 --> 00:13:39,840 Speaker 2: and then with the other thirty thousand dollars, put ten 316 00:13:39,840 --> 00:13:41,960 Speaker 2: into a six month CD, ten into a twelve month CD, 317 00:13:42,000 --> 00:13:44,599 Speaker 2: and ten into an eighteen month CD, taking advantage of 318 00:13:44,600 --> 00:13:48,040 Speaker 2: those high rates, locking in that increased payout instead of 319 00:13:48,360 --> 00:13:49,920 Speaker 2: just hoping the rates don't go back down. 320 00:13:50,200 --> 00:13:50,920 Speaker 3: Well, that's the thing. 321 00:13:51,000 --> 00:13:55,160 Speaker 2: I think that it's natural to assume that rates will continue, 322 00:13:55,400 --> 00:13:58,240 Speaker 2: that previous activity will continue. 323 00:13:57,960 --> 00:14:00,160 Speaker 1: As is right, It's always what we think. Yeah, like, 324 00:14:00,320 --> 00:14:01,079 Speaker 1: so it's totally. 325 00:14:00,960 --> 00:14:02,720 Speaker 2: Natural to think, well, why would I lock that money away? 326 00:14:02,760 --> 00:14:05,160 Speaker 2: When rates continue to climb. And honestly, that's one of 327 00:14:05,240 --> 00:14:07,800 Speaker 2: the benefits of going with some of the different no 328 00:14:07,920 --> 00:14:10,680 Speaker 2: penalty CDs that are out there, because you can put 329 00:14:10,679 --> 00:14:13,200 Speaker 2: that money in there and then withdraw it if you 330 00:14:13,240 --> 00:14:16,000 Speaker 2: are able to find better rates elsewhere. But the reason 331 00:14:16,040 --> 00:14:19,080 Speaker 2: that we're mentioning CDs rather than saving these accounts is 332 00:14:19,120 --> 00:14:22,520 Speaker 2: that the rates aren't guaranteed to stay as elevated as 333 00:14:22,600 --> 00:14:22,960 Speaker 2: they are. 334 00:14:23,480 --> 00:14:25,800 Speaker 3: They might, but we just don't know. We just don't know. 335 00:14:25,840 --> 00:14:27,000 Speaker 1: That first hard to predict. 336 00:14:27,080 --> 00:14:28,200 Speaker 3: Yeah, yeah, So let's. 337 00:14:27,960 --> 00:14:31,360 Speaker 2: Talk of housing here for a second. You know, at 338 00:14:31,400 --> 00:14:33,320 Speaker 2: least a part of the reason why homes cost so 339 00:14:33,400 --> 00:14:36,400 Speaker 2: much more money now is because they are being built 340 00:14:36,920 --> 00:14:41,440 Speaker 2: bigger as well as fancier. There are more luxuries, luxury 341 00:14:41,480 --> 00:14:42,280 Speaker 2: homes out there than ever. 342 00:14:42,800 --> 00:14:45,000 Speaker 1: We like talked about that the price of a house 343 00:14:45,080 --> 00:14:48,480 Speaker 1: across decades, But the truth is we're not necessarily comparing 344 00:14:48,480 --> 00:14:51,240 Speaker 1: apples and apples. We're comparing apples and pairs or something 345 00:14:51,320 --> 00:14:54,440 Speaker 1: like that, because the size of a home and the 346 00:14:54,480 --> 00:14:57,840 Speaker 1: amenities that homes have now have drastically changed. So one 347 00:14:57,880 --> 00:14:59,880 Speaker 1: house a house in nineteen seventy doesn't equal a house 348 00:15:00,040 --> 00:15:01,200 Speaker 1: built in twenty twenty three. 349 00:15:01,120 --> 00:15:06,720 Speaker 2: No, exactly, everyone's expecting the nicer finishes my ship lap exactly. 350 00:15:07,280 --> 00:15:10,080 Speaker 2: But builders they just don't care about some of these 351 00:15:10,200 --> 00:15:12,280 Speaker 2: smaller homes out there as well, some of the sub 352 00:15:12,280 --> 00:15:14,680 Speaker 2: two thousand square feet homes, the smaller ones, they just 353 00:15:14,680 --> 00:15:17,600 Speaker 2: don't make them as much money. But that being said, 354 00:15:18,040 --> 00:15:19,960 Speaker 2: when it comes to housing, we actually saw a bit 355 00:15:20,000 --> 00:15:22,760 Speaker 2: of good news recently. It turns out that homes they've 356 00:15:22,800 --> 00:15:24,880 Speaker 2: actually been shrinking in size. They've they're down a couple 357 00:15:25,000 --> 00:15:28,560 Speaker 2: hundred square feet from several years ago. The average new 358 00:15:28,600 --> 00:15:32,120 Speaker 2: home size it's now at twenty five hundred square feet, 359 00:15:32,160 --> 00:15:35,320 Speaker 2: and that's actually down from twenty seven hundred square feet, 360 00:15:35,320 --> 00:15:38,000 Speaker 2: which is kind of really it's really interesting, honestly, because 361 00:15:38,120 --> 00:15:41,720 Speaker 2: consumer demand maybe it's actually changing, or maybe builders they're 362 00:15:41,760 --> 00:15:44,600 Speaker 2: just responding to the increased costs of everything out there, 363 00:15:44,720 --> 00:15:47,680 Speaker 2: from labor to materials. We're not totally sure, but I 364 00:15:47,680 --> 00:15:50,080 Speaker 2: think this is a good trend. I think one of 365 00:15:50,120 --> 00:15:52,440 Speaker 2: the reasons too, might be just because like since the 366 00:15:52,480 --> 00:15:56,160 Speaker 2: sixties and seventies, we've only seen the size of homes 367 00:15:56,240 --> 00:16:00,560 Speaker 2: just totally, like completely skyrocket, And also during that same 368 00:16:00,560 --> 00:16:03,640 Speaker 2: period of time, we have seen the sizes of the 369 00:16:03,680 --> 00:16:07,480 Speaker 2: average size of the family drastically decrease, and I've. 370 00:16:07,400 --> 00:16:08,920 Speaker 1: A lot more square footage per person. 371 00:16:09,840 --> 00:16:12,480 Speaker 2: And I think folks have just sort of woken up 372 00:16:12,480 --> 00:16:14,520 Speaker 2: a little bit and they realized, oh, wait a minute, 373 00:16:14,520 --> 00:16:17,520 Speaker 2: We've got this giant house with nobody to stick in 374 00:16:17,560 --> 00:16:17,880 Speaker 2: this house. 375 00:16:17,960 --> 00:16:20,080 Speaker 1: We're heating and cooling, we're paying paying. 376 00:16:20,560 --> 00:16:23,560 Speaker 2: Inefficient And my hope is that folks are just being 377 00:16:23,600 --> 00:16:26,840 Speaker 2: more intentional and efficient not only with their spaces, but 378 00:16:26,880 --> 00:16:28,920 Speaker 2: with their money, because if you're not having to heat 379 00:16:28,960 --> 00:16:31,800 Speaker 2: and cool and furnish and pay taxes on this giant McMansion, 380 00:16:32,240 --> 00:16:34,520 Speaker 2: well you're going to be able to do more interesting, 381 00:16:35,160 --> 00:16:38,080 Speaker 2: satisfying things with your money, like going on a vacation 382 00:16:38,760 --> 00:16:40,960 Speaker 2: or not even spending it on yourself, like giving that 383 00:16:41,080 --> 00:16:43,640 Speaker 2: money away. But it seems like excess fat is being 384 00:16:43,680 --> 00:16:46,520 Speaker 2: trimmed off in this case when it comes to houses. Yeah, 385 00:16:46,480 --> 00:16:47,080 Speaker 2: that makes me happy. 386 00:16:47,160 --> 00:16:48,800 Speaker 1: I know, I like that too. It's a good trend. 387 00:16:48,880 --> 00:16:52,080 Speaker 1: Hope it continues because yeah, the problem there aren't many 388 00:16:52,080 --> 00:16:55,320 Speaker 1: starter homes available in smaller homes for people, and we 389 00:16:55,400 --> 00:16:58,400 Speaker 1: need more supply, but in particularly we need more supply 390 00:16:58,800 --> 00:17:01,600 Speaker 1: of smaller, more accessible homes, which so this is good, 391 00:17:01,760 --> 00:17:03,600 Speaker 1: by the way, I saw this Matt this week. The 392 00:17:03,640 --> 00:17:06,639 Speaker 1: Burbs are popping, and it's not just because everyone's following 393 00:17:06,680 --> 00:17:10,159 Speaker 1: the trend that we started last summer, like nearly all. 394 00:17:10,200 --> 00:17:12,440 Speaker 1: It's all the how the Money boys, Right, Yeah, it's 395 00:17:12,480 --> 00:17:15,240 Speaker 1: a new status show that nearly half of all millennials 396 00:17:15,240 --> 00:17:16,879 Speaker 1: expect to buy a home in the Burbs, which I 397 00:17:16,920 --> 00:17:19,600 Speaker 1: thought was kind of cool. And the reason sided we'll 398 00:17:19,600 --> 00:17:21,720 Speaker 1: work from home. Being able to work from anywhere, it's like, 399 00:17:21,760 --> 00:17:23,600 Speaker 1: why not move a little more wroral, I don't need 400 00:17:23,880 --> 00:17:26,000 Speaker 1: to be as close to the office, which makes sense, 401 00:17:26,040 --> 00:17:28,280 Speaker 1: and then affordability, it's just a little bit cheaper the 402 00:17:28,280 --> 00:17:31,320 Speaker 1: further out you go from a downtown location typically, So 403 00:17:31,880 --> 00:17:33,000 Speaker 1: that's what was kind of. 404 00:17:32,920 --> 00:17:36,240 Speaker 2: Interesting on the house that we considered right moving part 405 00:17:36,240 --> 00:17:38,480 Speaker 2: of our part of our reason for the trek for sure. 406 00:17:38,480 --> 00:17:41,400 Speaker 3: Decision making matrix. Sure, so all. 407 00:17:41,359 --> 00:17:44,160 Speaker 1: Right, we got more to get to, including a ridiculously 408 00:17:44,240 --> 00:17:47,680 Speaker 1: cheap way to see movies in the movie theater. We'll 409 00:17:47,720 --> 00:17:49,280 Speaker 1: get to that and more right after this. 410 00:17:59,040 --> 00:18:02,959 Speaker 2: Alright, we are back in the Friday flight continues Joel, 411 00:18:03,119 --> 00:18:05,240 Speaker 2: And as you know, it is now time for the 412 00:18:05,320 --> 00:18:06,440 Speaker 2: ludicrous headline. 413 00:18:06,160 --> 00:18:06,480 Speaker 3: Of the week. 414 00:18:06,600 --> 00:18:08,639 Speaker 2: Always my favorite time of the week it is man. Okay, 415 00:18:08,640 --> 00:18:11,680 Speaker 2: So this one speaking of Time, This is from Time Magazine, 416 00:18:11,760 --> 00:18:15,480 Speaker 2: Time dot Com and the article read ditching a phone 417 00:18:15,480 --> 00:18:19,480 Speaker 2: case is the latest symbol of stealth, wealth boom. And 418 00:18:20,240 --> 00:18:23,240 Speaker 2: there's multiple things that we dislike about this article, but 419 00:18:23,280 --> 00:18:26,159 Speaker 2: the basic premise is that not having a case on 420 00:18:26,200 --> 00:18:29,800 Speaker 2: your phone it reflects your ability to buy a new one, 421 00:18:30,280 --> 00:18:32,840 Speaker 2: no problem, right, like without even batting an eyelash if 422 00:18:32,880 --> 00:18:35,359 Speaker 2: you were to accidentally drop it and shatter the screen. 423 00:18:35,400 --> 00:18:38,280 Speaker 1: By the way, I think Succession, the show on HBO, 424 00:18:38,400 --> 00:18:40,600 Speaker 1: kind of kind of started this whole trend of like 425 00:18:40,680 --> 00:18:44,040 Speaker 1: there's rich people who don't have case. Is this the 426 00:18:44,119 --> 00:18:46,040 Speaker 1: new symbol of wealth? And so this is what Time 427 00:18:46,119 --> 00:18:46,840 Speaker 1: is kind of pivoting on. 428 00:18:46,960 --> 00:18:49,200 Speaker 2: It makes sense, like I guess I have. I don't 429 00:18:49,240 --> 00:18:51,520 Speaker 2: pay it enough attention when I watch shows or movies, 430 00:18:51,560 --> 00:18:55,800 Speaker 2: but you're not. It does seem like an additional thing 431 00:18:56,160 --> 00:18:59,000 Speaker 2: that they're not gonna make the actors hold, you know, 432 00:18:59,080 --> 00:19:00,840 Speaker 2: like I don't know, it kind of just seems a 433 00:19:00,880 --> 00:19:03,199 Speaker 2: little too real, Like I feel like it would need 434 00:19:03,240 --> 00:19:07,359 Speaker 2: to be like a docuseries, like a true reality show 435 00:19:07,400 --> 00:19:09,840 Speaker 2: where they're showing real life as opposed to Succession, because 436 00:19:09,840 --> 00:19:11,760 Speaker 2: reality show that's not real life. A real life, man, 437 00:19:12,520 --> 00:19:15,000 Speaker 2: it's more real life than succession, I'll say the much. 438 00:19:15,359 --> 00:19:18,520 Speaker 2: But I get that folks might want to go caseless. 439 00:19:18,640 --> 00:19:21,479 Speaker 2: You know, you get to enjoy the sleekness of your 440 00:19:21,600 --> 00:19:26,640 Speaker 2: iPhone that's impeccably designed. And even though I so, I've 441 00:19:26,680 --> 00:19:29,040 Speaker 2: got a newer iPhone and it's got that I think 442 00:19:29,040 --> 00:19:31,560 Speaker 2: it's called the ceramic shield where the screen it's like 443 00:19:31,640 --> 00:19:34,359 Speaker 2: supposed to be four times harder than the gorilla glass 444 00:19:34,359 --> 00:19:38,320 Speaker 2: out there. Even still, I've learned my lesson from previous phones. 445 00:19:38,359 --> 00:19:40,840 Speaker 3: Yea, you do. I do the case thing. 446 00:19:41,160 --> 00:19:44,440 Speaker 1: Even still, we talked about me shattering my screen when 447 00:19:44,440 --> 00:19:47,560 Speaker 1: I bought my new Pixel like within days, and that's 448 00:19:47,600 --> 00:19:49,160 Speaker 1: the worst part. And I was like, it's a much 449 00:19:49,200 --> 00:19:50,880 Speaker 1: cheaper phone. I think I'm gonna roll with no case. 450 00:19:50,920 --> 00:19:52,120 Speaker 1: And then I did it and it. 451 00:19:52,080 --> 00:19:55,040 Speaker 3: Fell off your I can't believe it. Yeah, that's what's 452 00:19:55,040 --> 00:19:55,680 Speaker 3: so ridiculous. 453 00:19:55,720 --> 00:19:57,560 Speaker 2: It's one thing if you drop it out while while 454 00:19:57,560 --> 00:19:59,560 Speaker 2: you're walking around, soda lands on the sidewalk, but the 455 00:19:59,560 --> 00:20:02,080 Speaker 2: fact that it happened inside your house is the mind blowing. 456 00:20:02,880 --> 00:20:05,359 Speaker 2: But not only the case like get yourself the like 457 00:20:05,400 --> 00:20:07,800 Speaker 2: I've even got again. Even with my fancy glass on 458 00:20:08,040 --> 00:20:10,120 Speaker 2: the newer phone, I still put one of those those 459 00:20:10,200 --> 00:20:12,320 Speaker 2: little clear glass shields on there as well, And once 460 00:20:12,320 --> 00:20:14,800 Speaker 2: it gets scuffed up enough, I swapped that thing out 461 00:20:14,800 --> 00:20:17,000 Speaker 2: and slap a new, cheap one on there. Yeah, but 462 00:20:17,280 --> 00:20:19,399 Speaker 2: having that case on your phone is going to be 463 00:20:19,440 --> 00:20:22,520 Speaker 2: the cheapest insurance policy. It's it's certainly much better than 464 00:20:22,600 --> 00:20:26,760 Speaker 2: like actually paying for an insurance policy on your phone. 465 00:20:27,040 --> 00:20:29,440 Speaker 2: So the reason we're covering this is we don't want 466 00:20:29,480 --> 00:20:32,640 Speaker 2: you to read headlines like this and think, oh, yeah, 467 00:20:32,760 --> 00:20:35,440 Speaker 2: I don't need a case. I'm going to remove my case. 468 00:20:35,480 --> 00:20:37,159 Speaker 2: I'm going to toss that thing of the trash in 469 00:20:37,280 --> 00:20:40,320 Speaker 2: order to look fancy, because if so, it'll probably be 470 00:20:40,440 --> 00:20:45,119 Speaker 2: an unwise financial move. Yes, yeah, I do understand. It's 471 00:20:45,160 --> 00:20:46,840 Speaker 2: it kind of sucks that the cases that make your 472 00:20:46,840 --> 00:20:49,040 Speaker 2: phone a little bulkier, but it's worth it. 473 00:20:49,119 --> 00:20:50,960 Speaker 1: Yes, yeah, And I think if you really want to 474 00:20:51,000 --> 00:20:54,400 Speaker 1: head in that direction, the direction of caselessness, channeling your 475 00:20:54,640 --> 00:20:58,320 Speaker 1: inner succession character or whatever, like, make sure you have 476 00:20:58,600 --> 00:21:00,879 Speaker 1: cell phone insurance through what your credit cards, not one 477 00:21:00,920 --> 00:21:02,720 Speaker 1: of those third party policies that's going to cost quite 478 00:21:02,760 --> 00:21:05,440 Speaker 1: a bit of money. Get kind of that essentially free 479 00:21:05,440 --> 00:21:08,919 Speaker 1: coverage through one of the credit cards that you have built. 480 00:21:09,040 --> 00:21:11,520 Speaker 1: For instance, which is a great credit card for renters, 481 00:21:11,800 --> 00:21:14,280 Speaker 1: has a great cell phone insurance policy attached to it 482 00:21:14,600 --> 00:21:17,000 Speaker 1: if you read the fine print, jump through the hoops 483 00:21:17,080 --> 00:21:19,919 Speaker 1: and make sure you're qualifying for it. Typically, what that 484 00:21:20,000 --> 00:21:23,000 Speaker 1: means is paying your cell phone bill via that credit 485 00:21:23,080 --> 00:21:25,680 Speaker 1: card every single month. The Chase Freedom Flex that's another 486 00:21:25,720 --> 00:21:29,400 Speaker 1: great option too, that provides some really healthy coverage when 487 00:21:29,440 --> 00:21:32,560 Speaker 1: it comes to your cell phone. And so, yeah, you 488 00:21:32,600 --> 00:21:34,639 Speaker 1: find a credit card that's basically able to give you 489 00:21:34,680 --> 00:21:37,960 Speaker 1: this coverage essentially for free. And one more thing Matt 490 00:21:38,040 --> 00:21:39,920 Speaker 1: that I had an issue with I took an issue 491 00:21:39,920 --> 00:21:42,199 Speaker 1: with in that headline was that they called this a 492 00:21:42,240 --> 00:21:45,399 Speaker 1: stealth wealth symbol like this new energy are getting to 493 00:21:45,480 --> 00:21:47,600 Speaker 1: this And that's so silly because in episode six fifty 494 00:21:47,640 --> 00:21:50,240 Speaker 1: we talked about stealth wealth what it is, and the 495 00:21:50,280 --> 00:21:53,000 Speaker 1: goal in that episode we said is to accrue wealth, 496 00:21:53,080 --> 00:21:55,280 Speaker 1: not to flunt it. And a caseless phone. It's not 497 00:21:55,320 --> 00:21:58,600 Speaker 1: the equivalent of driving a Mercedes Benz or something I 498 00:21:58,600 --> 00:22:02,000 Speaker 1: don't know, or wearing Gucci or something like that. But yeah, 499 00:22:02,119 --> 00:22:04,800 Speaker 1: stealth wealth has nothing to do with signaling and everything 500 00:22:04,840 --> 00:22:07,159 Speaker 1: to do with building up that bigger networth for yourself. 501 00:22:07,200 --> 00:22:09,840 Speaker 1: So I get why they use that term, but I 502 00:22:09,880 --> 00:22:12,480 Speaker 1: hate that application of that term in this instance. 503 00:22:12,720 --> 00:22:14,480 Speaker 2: Yeah, I get that it's a little more under the radar. 504 00:22:15,119 --> 00:22:17,040 Speaker 2: When we talked about stealth wealth on that episode, I 505 00:22:17,080 --> 00:22:18,960 Speaker 2: think we talked about the stealth bomber, you know. Yeah, 506 00:22:18,960 --> 00:22:20,560 Speaker 2: so it is kind of like under the radar. It's 507 00:22:20,560 --> 00:22:24,000 Speaker 2: a little more subtle, I guess, but even still, you 508 00:22:24,080 --> 00:22:26,480 Speaker 2: are caring about what other people think. And the whole 509 00:22:26,520 --> 00:22:29,080 Speaker 2: idea is to not care about what it is that 510 00:22:29,359 --> 00:22:32,680 Speaker 2: other people think of you. But Joe, let's talk about movies. 511 00:22:32,720 --> 00:22:37,159 Speaker 2: Because back from the Dead movie Pass, it has resurrected itself. 512 00:22:37,200 --> 00:22:39,400 Speaker 2: It has risen from the ashes, and so if you're 513 00:22:39,400 --> 00:22:42,520 Speaker 2: a fan of seeing movies in the theater, obviously it's 514 00:22:42,560 --> 00:22:44,280 Speaker 2: gotten all incredibly expensive. 515 00:22:44,320 --> 00:22:46,840 Speaker 1: I honestly don't even know quite how expensive it's gotten 516 00:22:46,880 --> 00:22:48,600 Speaker 1: met because I have to look at the stats because 517 00:22:48,800 --> 00:22:50,800 Speaker 1: I haven't been to a I haven't been. I've literally 518 00:22:50,800 --> 00:22:52,760 Speaker 1: I think since the pandemics are and I've been once. 519 00:22:52,800 --> 00:22:56,240 Speaker 1: And it's not even necessarily because of the pandemic, because 520 00:22:56,440 --> 00:22:58,399 Speaker 1: I have kids and don't go to see movies. 521 00:22:58,480 --> 00:23:02,199 Speaker 2: It's this page of life kind of thing. I completely agree, 522 00:23:02,240 --> 00:23:05,080 Speaker 2: so I looked it up. Evidently, the average price of 523 00:23:05,080 --> 00:23:07,520 Speaker 2: a ticket last year was eleven to seventy five, which 524 00:23:07,560 --> 00:23:09,399 Speaker 2: was actually surprising. I would have expected it to be 525 00:23:09,440 --> 00:23:12,200 Speaker 2: more like the thirteen to fourteen dollars range or something 526 00:23:12,240 --> 00:23:13,639 Speaker 2: like that. Maybe that's just because we live here in 527 00:23:13,640 --> 00:23:14,280 Speaker 2: Atlanta and the. 528 00:23:14,200 --> 00:23:16,200 Speaker 1: Heart The prices in the heartland bring it down. Yeah, 529 00:23:16,600 --> 00:23:19,280 Speaker 1: the coastal price ticket or like fifteen, sixteen, eighteen dollars. 530 00:23:19,400 --> 00:23:23,119 Speaker 2: Yeah, And of course that's before paying for popcorn and drinks, 531 00:23:23,240 --> 00:23:25,760 Speaker 2: which is also something that you probably want to skip 532 00:23:25,800 --> 00:23:27,480 Speaker 2: if you're going out. I mean, honestly, like if you 533 00:23:27,480 --> 00:23:29,640 Speaker 2: think about it, like just going out on a date 534 00:23:30,320 --> 00:23:32,200 Speaker 2: could cost you around hundred bucks when you're were going 535 00:23:32,200 --> 00:23:35,480 Speaker 2: to the movie, accounting for paying for a babysitter, paying 536 00:23:35,520 --> 00:23:39,080 Speaker 2: for a couple of tickets, drinks, popcorn, it's. 537 00:23:38,920 --> 00:23:39,840 Speaker 1: Like not eating dinner. 538 00:23:40,440 --> 00:23:44,960 Speaker 2: Yeah, And honestly, just giving how good TVs have become, 539 00:23:45,200 --> 00:23:49,359 Speaker 2: I honestly see no reason why. I don't know, it's 540 00:23:49,400 --> 00:23:51,119 Speaker 2: something special. So I get that there might be a 541 00:23:51,160 --> 00:23:53,080 Speaker 2: desire to go out, but like the convenience that you're 542 00:23:53,080 --> 00:23:56,399 Speaker 2: giving up when you have to, like get dressed and 543 00:23:56,560 --> 00:23:59,240 Speaker 2: go out when instead I can pop my own popcorn, 544 00:23:59,280 --> 00:24:02,480 Speaker 2: my own superior popcorn at home, I can much like 545 00:24:02,680 --> 00:24:04,600 Speaker 2: make a whiskey and a coke like you can't do 546 00:24:04,680 --> 00:24:08,320 Speaker 2: that at the AMC. I honestly see no reason to 547 00:24:08,440 --> 00:24:11,240 Speaker 2: go out there and spend this additional money the cost 548 00:24:11,320 --> 00:24:12,760 Speaker 2: of this movie pass when. 549 00:24:12,600 --> 00:24:14,439 Speaker 3: You you've got to perfectly find TV at home. 550 00:24:14,480 --> 00:24:16,840 Speaker 1: I guarantee, like everybody alphe explain movie Pass. So let's 551 00:24:16,840 --> 00:24:19,320 Speaker 1: talk about that quite because yes, I think you're right 552 00:24:19,640 --> 00:24:22,400 Speaker 1: paying the full price of a ticket that gets prohibitively 553 00:24:22,440 --> 00:24:23,920 Speaker 1: expensive if you like to see three, four or five 554 00:24:23,960 --> 00:24:24,600 Speaker 1: movies a month. 555 00:24:24,600 --> 00:24:27,520 Speaker 3: If this is your equivalent, I then movie pass could 556 00:24:27,560 --> 00:24:27,840 Speaker 3: make sense. 557 00:24:27,920 --> 00:24:29,560 Speaker 1: Yeah, you the price adds up if you're if you're 558 00:24:29,560 --> 00:24:29,960 Speaker 1: not doing it. 559 00:24:30,000 --> 00:24:32,320 Speaker 2: We're talking about all the movie buffs out there who 560 00:24:32,400 --> 00:24:33,880 Speaker 2: want to go see everything in the theater. 561 00:24:34,000 --> 00:24:34,960 Speaker 3: Yeah, it could make sense. 562 00:24:34,960 --> 00:24:37,280 Speaker 1: So movie Pass they have a ten dollars plan that 563 00:24:37,400 --> 00:24:39,040 Speaker 1: lets you go see three movies a month, and they 564 00:24:39,119 --> 00:24:41,679 Speaker 1: just launched, I think this past weekend again or relaunched, 565 00:24:41,920 --> 00:24:43,720 Speaker 1: and if you're a movie fanatic, you can pay forty 566 00:24:43,760 --> 00:24:46,000 Speaker 1: bucks a month for up to thirty movies in the 567 00:24:46,000 --> 00:24:48,399 Speaker 1: theater that you can view. And so if you're like, 568 00:24:48,600 --> 00:24:51,240 Speaker 1: I'm a movie every day kind of person, well cool, 569 00:24:51,240 --> 00:24:52,280 Speaker 1: you can watch movies to your heart. 570 00:24:52,440 --> 00:24:54,359 Speaker 2: These people like, are there literally people out there, though, 571 00:24:54,400 --> 00:24:56,000 Speaker 2: who are going to go see forty movies in a 572 00:24:56,040 --> 00:24:56,440 Speaker 2: single month? 573 00:24:56,480 --> 00:24:58,000 Speaker 1: Are there even that many movies to see? I don't 574 00:24:58,000 --> 00:24:58,280 Speaker 1: even know. 575 00:24:58,520 --> 00:25:00,000 Speaker 3: Of course, you're right, we rewatching stuff. 576 00:25:00,040 --> 00:25:01,920 Speaker 1: Yeah you're doing that, but okay, let's just say you're 577 00:25:02,119 --> 00:25:04,080 Speaker 1: the ten dollars a month to watch three. That seems 578 00:25:04,119 --> 00:25:05,439 Speaker 1: like I can see a lot of people wanting to 579 00:25:05,440 --> 00:25:08,359 Speaker 1: do that, and that movie Pass subscribers back in the day, 580 00:25:08,400 --> 00:25:11,960 Speaker 1: they really loved the product. But eventually movie Pass couldn't 581 00:25:11,960 --> 00:25:15,399 Speaker 1: sustain itself filed for bankruptcy. The business model just wasn't sustainable. 582 00:25:15,440 --> 00:25:17,840 Speaker 1: So the question is, is movie Pass is going to be 583 00:25:17,880 --> 00:25:21,200 Speaker 1: able to stick around and continue offering these massively discounted 584 00:25:21,280 --> 00:25:23,399 Speaker 1: rates to see movies. We'll see. But I think for 585 00:25:23,520 --> 00:25:25,320 Speaker 1: somehow money listeners who say I like to go see 586 00:25:25,359 --> 00:25:27,159 Speaker 1: movie every now and again, and you're right it is 587 00:25:27,200 --> 00:25:30,000 Speaker 1: too expensive, movie pass might be the solution. It might 588 00:25:30,040 --> 00:25:32,800 Speaker 1: just be a short term solution, depending on whether or 589 00:25:32,840 --> 00:25:34,360 Speaker 1: not they can make the numbers work. But I think 590 00:25:34,359 --> 00:25:36,119 Speaker 1: some people are gonna find value in movie pass. 591 00:25:36,280 --> 00:25:38,600 Speaker 2: Yeah, I see value in going to I just don't 592 00:25:38,600 --> 00:25:39,919 Speaker 2: want to go watch a movie with a bunch of 593 00:25:39,920 --> 00:25:44,000 Speaker 2: other people. Like Okay, I will say the experience of 594 00:25:44,080 --> 00:25:48,159 Speaker 2: going to see live music or seem like a comedy 595 00:25:48,200 --> 00:25:51,679 Speaker 2: show or like sports, Right, there's something additional that you 596 00:25:51,720 --> 00:25:54,359 Speaker 2: gain when you're there with a bunch of people laughing 597 00:25:54,359 --> 00:25:57,000 Speaker 2: with them or singing along if it's a concert, or 598 00:25:57,000 --> 00:25:59,719 Speaker 2: like high five and you know, once Lady United scores 599 00:25:59,720 --> 00:26:01,880 Speaker 2: a goal and people are throwing beer everywhere, and you're 600 00:26:01,920 --> 00:26:05,520 Speaker 2: like high five and everybody within reach. That adds significantly 601 00:26:05,600 --> 00:26:07,760 Speaker 2: to the experience. But I just don't personally, I don't 602 00:26:07,800 --> 00:26:09,600 Speaker 2: get the experience of going there sitting next to other 603 00:26:09,600 --> 00:26:11,760 Speaker 2: people and you're all just sitting there quietly, yeah, watching 604 00:26:12,320 --> 00:26:13,919 Speaker 2: watching that they when I could do that at home. 605 00:26:13,840 --> 00:26:14,600 Speaker 1: Breeding the same air. 606 00:26:15,119 --> 00:26:18,160 Speaker 2: Sorry for hating on all the folks out there who 607 00:26:18,240 --> 00:26:20,119 Speaker 2: like to go out and watch movies. Let's talk about 608 00:26:20,359 --> 00:26:24,040 Speaker 2: maybe the opposite of spending your money on entertainment, investing 609 00:26:24,440 --> 00:26:27,440 Speaker 2: your money. The heavy lifting in the stock market this year, 610 00:26:27,520 --> 00:26:30,400 Speaker 2: It has actually been done by just a handful of stocks, 611 00:26:30,800 --> 00:26:36,159 Speaker 2: five in particular, Apple, Microsoft, Amazon, Alphabet, and then the 612 00:26:36,240 --> 00:26:39,040 Speaker 2: new company on the black, the chip maker, and video 613 00:26:39,200 --> 00:26:44,199 Speaker 2: they've defied gravity basically in video they replaced Netflix, that 614 00:26:44,320 --> 00:26:47,439 Speaker 2: was the old fang, the Fang stocks, those five. But 615 00:26:47,480 --> 00:26:49,640 Speaker 2: the market, the stock market is up just around ten 616 00:26:49,680 --> 00:26:53,320 Speaker 2: percent this year overall. Most people probably aren't aware of 617 00:26:53,320 --> 00:26:56,280 Speaker 2: that because they're thinking, oh, yeah, it's stocks haven't recovered. 618 00:26:56,680 --> 00:26:59,440 Speaker 2: And they certainly have recovered to post pandemic, not to highs, 619 00:26:59,480 --> 00:27:02,720 Speaker 2: all time high or whatever. But without the heavy lifting 620 00:27:02,920 --> 00:27:07,080 Speaker 2: that these stock prices are doing of these select companies, 621 00:27:07,400 --> 00:27:10,160 Speaker 2: it would actually just be up one and a half percent. 622 00:27:10,600 --> 00:27:13,639 Speaker 2: And so you might be seeing these headlines and thinking, 623 00:27:13,680 --> 00:27:15,560 Speaker 2: all right, does that mean I should be buying only 624 00:27:15,600 --> 00:27:16,200 Speaker 2: these companies? 625 00:27:16,200 --> 00:27:18,199 Speaker 1: What's the takeaway? The high performers? Why am i? 626 00:27:18,440 --> 00:27:18,680 Speaker 3: No? 627 00:27:18,760 --> 00:27:21,080 Speaker 1: Am I settling for these lazy bum stocks? No? 628 00:27:21,320 --> 00:27:21,600 Speaker 3: That is. 629 00:27:23,080 --> 00:27:26,040 Speaker 2: So you never know which companies it is that are 630 00:27:26,119 --> 00:27:29,080 Speaker 2: going to outperform the market. If you opted to just 631 00:27:29,200 --> 00:27:31,960 Speaker 2: pick individual stocks, individual companies instead of opting to buy 632 00:27:32,040 --> 00:27:34,560 Speaker 2: all of them, then that's what you do with an 633 00:27:34,600 --> 00:27:37,239 Speaker 2: index fund, which is what we recommend. Well, what's going 634 00:27:37,280 --> 00:27:39,080 Speaker 2: to happen? You're not going to have seen the performance 635 00:27:39,200 --> 00:27:41,320 Speaker 2: that you would be seeing up until this point unless 636 00:27:41,320 --> 00:27:43,720 Speaker 2: you pick the right ones exactly. Which is the point, right, 637 00:27:44,000 --> 00:27:46,159 Speaker 2: And how long is that right stock going to be 638 00:27:46,160 --> 00:27:48,520 Speaker 2: the right stock is another question? Right, Some folks might 639 00:27:48,560 --> 00:27:50,359 Speaker 2: think this is the time to get on get in 640 00:27:50,480 --> 00:27:52,440 Speaker 2: on a stock like in Video while the getting's good, 641 00:27:52,840 --> 00:27:54,840 Speaker 2: But is in Nvidia stock going to continue to soar 642 00:27:54,920 --> 00:27:56,720 Speaker 2: like it has over the past year, and in particular 643 00:27:56,760 --> 00:27:59,280 Speaker 2: over the past week or two. I mean, it's up 644 00:27:59,280 --> 00:28:02,240 Speaker 2: one hundred and fifty nine percent. It's trading at a 645 00:28:02,320 --> 00:28:05,280 Speaker 2: higher earnings ratio than Tesla ever did, really, and Tesla 646 00:28:05,400 --> 00:28:07,240 Speaker 2: was massively over value there for a while. And Video 647 00:28:07,280 --> 00:28:09,760 Speaker 2: is crushing right now, and you didn't know when the 648 00:28:09,800 --> 00:28:12,800 Speaker 2: stock was going to deflate. But I just want to 649 00:28:12,840 --> 00:28:14,520 Speaker 2: say this, it might not be the best time to 650 00:28:14,560 --> 00:28:17,840 Speaker 2: start throwing your investment dollars into these specific companies. And 651 00:28:18,040 --> 00:28:20,560 Speaker 2: look on the bright side, when you invest in index funds, 652 00:28:20,600 --> 00:28:23,119 Speaker 2: you own a piece of these companies. You share in 653 00:28:23,160 --> 00:28:24,840 Speaker 2: the spoils, you share in the profit, you share in 654 00:28:24,840 --> 00:28:27,520 Speaker 2: the return, which is great. But you're just not overly 655 00:28:27,600 --> 00:28:29,800 Speaker 2: exposed to them, which I think of is a good thing. 656 00:28:29,880 --> 00:28:32,440 Speaker 2: And it kind of feels like it's not a good 657 00:28:32,480 --> 00:28:35,399 Speaker 2: thing when those five stocks are soaring, but you just 658 00:28:35,440 --> 00:28:37,080 Speaker 2: don't know what tomorrow holds. You don't want to know 659 00:28:37,080 --> 00:28:39,280 Speaker 2: what next week holds are the next year holds, And 660 00:28:39,320 --> 00:28:41,200 Speaker 2: so the best thing to do is to be content 661 00:28:41,480 --> 00:28:45,080 Speaker 2: with those average returns, which are fortunately, at least for now, 662 00:28:45,400 --> 00:28:48,479 Speaker 2: being buoyed essentially by by all these companies. 663 00:28:48,480 --> 00:28:48,760 Speaker 3: That's right. 664 00:28:48,840 --> 00:28:51,720 Speaker 2: Yeah, it's always easy in retrospect to look back and say, oh, 665 00:28:51,760 --> 00:28:53,680 Speaker 2: of course those those five are. 666 00:28:53,520 --> 00:28:54,640 Speaker 1: Gonna totally crush. 667 00:28:54,920 --> 00:28:56,680 Speaker 2: But what's it going to do for the next half 668 00:28:56,720 --> 00:28:59,320 Speaker 2: of the year. That is yet to be determined to 669 00:28:59,320 --> 00:29:01,800 Speaker 2: anybody's guests. Yeah, all right, So a quick little store 670 00:29:01,800 --> 00:29:05,000 Speaker 2: here on the price of cars as well as I 671 00:29:05,040 --> 00:29:07,240 Speaker 2: guess it's a little touch of inflation here as well, 672 00:29:07,240 --> 00:29:09,560 Speaker 2: but the average price of a new car is inching 673 00:29:09,840 --> 00:29:12,800 Speaker 2: dangerously close to fifty thousand dollars. 674 00:29:12,800 --> 00:29:14,760 Speaker 3: And this is the average price. 675 00:29:14,960 --> 00:29:18,000 Speaker 2: Obviously, that means that there are cars that are costing 676 00:29:18,360 --> 00:29:21,000 Speaker 2: way more than that that folks are buying. It's honestly 677 00:29:21,040 --> 00:29:23,840 Speaker 2: been astonishing just to see how car prices have continued 678 00:29:23,880 --> 00:29:28,240 Speaker 2: to skyrocket upwards. Used car prices certainly are better, but 679 00:29:28,280 --> 00:29:31,479 Speaker 2: they are still rough. A few years ago, sixty percent 680 00:29:31,600 --> 00:29:34,400 Speaker 2: of used cars they actually sold for less than twenty 681 00:29:34,480 --> 00:29:38,040 Speaker 2: thousand dollars. Now it's only thirty percent. So we wanted 682 00:29:38,040 --> 00:29:40,240 Speaker 2: to just mention that twenty thousand dollars it does not. 683 00:29:40,360 --> 00:29:42,120 Speaker 1: Get you what it used to get. 684 00:29:42,200 --> 00:29:45,640 Speaker 3: You be prepared to pay more for even a used car. 685 00:29:45,760 --> 00:29:48,600 Speaker 1: Yeah, well I found that out recently myself, and it 686 00:29:48,680 --> 00:29:51,040 Speaker 1: wasn't fun. I was able to keep my car under 687 00:29:51,160 --> 00:29:53,640 Speaker 1: the twenty k price limits or a price threshold. I 688 00:29:53,760 --> 00:29:56,360 Speaker 1: really wanted to spend less than that, spent twelve seven 689 00:29:56,400 --> 00:29:58,480 Speaker 1: hundred bucks on it, which I was pleased about. A 690 00:29:58,560 --> 00:30:01,640 Speaker 1: solid car for twelve grand. But let me give one 691 00:30:01,640 --> 00:30:03,520 Speaker 1: more piece of Debbie Downer news, Matt. The cost of 692 00:30:03,560 --> 00:30:06,000 Speaker 1: repairing your car have gone up as well, twenty three 693 00:30:06,040 --> 00:30:08,960 Speaker 1: percent higher in fact year every year. And car insurance 694 00:30:09,000 --> 00:30:11,120 Speaker 1: rate they're up as well. We've talked about that on 695 00:30:11,120 --> 00:30:13,560 Speaker 1: the show, how car insurance is costing you more. Still, 696 00:30:13,560 --> 00:30:16,400 Speaker 1: here's the thing. Driving an older car will typically save 697 00:30:16,480 --> 00:30:20,840 Speaker 1: you on insurance, potentially by a whole lot, even if 698 00:30:20,840 --> 00:30:23,360 Speaker 1: you're paying more for repairs, and so I would say 699 00:30:23,400 --> 00:30:26,200 Speaker 1: we would suggest paying the increase rate for those repairs 700 00:30:26,240 --> 00:30:28,640 Speaker 1: is likely worth the money if it keeps you from 701 00:30:28,640 --> 00:30:30,840 Speaker 1: shelling out massive amounts for a brand new or gently 702 00:30:30,920 --> 00:30:32,920 Speaker 1: used car. Because if you're thinking, you know what, I 703 00:30:32,960 --> 00:30:36,000 Speaker 1: hate to put another seven eight hundred bucks into this 704 00:30:36,480 --> 00:30:38,640 Speaker 1: older ride, Well, if it means you get to keep 705 00:30:38,640 --> 00:30:41,640 Speaker 1: it running and you also avoid the car market which 706 00:30:41,640 --> 00:30:45,000 Speaker 1: is completely insane. And dropping thirty thirty five forty grand 707 00:30:45,080 --> 00:30:47,960 Speaker 1: or something on a new to you used car, well 708 00:30:48,200 --> 00:30:51,400 Speaker 1: that's over hundred bucks was a wise investment. That's really 709 00:30:51,480 --> 00:30:53,640 Speaker 1: like what you might pay in a single month of 710 00:30:53,640 --> 00:30:54,120 Speaker 1: car payments. 711 00:30:54,160 --> 00:30:56,920 Speaker 2: That's right, Yeah, deppreciation man, you pay all the nose 712 00:30:57,080 --> 00:30:59,880 Speaker 2: by driving that car off a lot. And actually, speaking 713 00:30:59,880 --> 00:31:02,240 Speaker 2: of we actually we've got a great episode lined up 714 00:31:02,240 --> 00:31:02,520 Speaker 2: for y'all. 715 00:31:02,560 --> 00:31:02,960 Speaker 3: On Monday. 716 00:31:02,960 --> 00:31:06,400 Speaker 2: We're speaking with the car dealership guy and he is 717 00:31:06,480 --> 00:31:09,200 Speaker 2: the go to expert on all things related to the 718 00:31:09,240 --> 00:31:11,920 Speaker 2: car market. And I say car market specifically because we're 719 00:31:11,920 --> 00:31:14,200 Speaker 2: not talking about horsepower and stuff like that. 720 00:31:14,720 --> 00:31:15,440 Speaker 3: He's not like a. 721 00:31:15,320 --> 00:31:18,360 Speaker 2: Car guy in that sense. We're talking more like used 722 00:31:18,520 --> 00:31:21,360 Speaker 2: car prices, What makes and models out there are in 723 00:31:21,520 --> 00:31:25,600 Speaker 2: highest demand for navigating this crazy markets which we're driving 724 00:31:25,600 --> 00:31:27,720 Speaker 2: the prices up. Those are the kind of things we're 725 00:31:27,720 --> 00:31:30,000 Speaker 2: going to be discussing with the car dealership guy. You 726 00:31:30,000 --> 00:31:32,600 Speaker 2: can look forward to that one here on Monday. But Joel, 727 00:31:32,640 --> 00:31:34,920 Speaker 2: that's gonna be a buddy for this episode. Listeners, you 728 00:31:34,920 --> 00:31:37,440 Speaker 2: can head over to the website at how toomoney dot 729 00:31:37,480 --> 00:31:39,800 Speaker 2: com and you can find links to some of the 730 00:31:39,800 --> 00:31:42,160 Speaker 2: different resources of the different stories that we mentioned today. 731 00:31:42,160 --> 00:31:45,200 Speaker 2: And that's also where you can sign up for our newsletter, 732 00:31:45,520 --> 00:31:48,360 Speaker 2: the how to Money Newsletter, which goes out every Tuesday morning. 733 00:31:48,400 --> 00:31:50,240 Speaker 2: You can sign up at how tomoney dot com Forward 734 00:31:50,240 --> 00:31:53,480 Speaker 2: Slash Newsletter. It's free and helpful and we hope that 735 00:31:53,520 --> 00:31:55,880 Speaker 2: you sign up for it very soon. Why wait, do 736 00:31:55,920 --> 00:31:57,840 Speaker 2: it now? But that's gonna be a buddy for this 737 00:31:57,880 --> 00:32:01,240 Speaker 2: one until next time. Best Friends album Friends out