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Speaker 1: Welcome to had the Money.

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Speaker 2: I'm Joel and I am Matt, and today we're talking

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Speaker 2: ev apathy, tax penalties, and inflation.

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Speaker 1: Is your fault? Getting personal over there? Is inflation my

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Speaker 1: fault or is it our fault?

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Speaker 2: Really likely to Andy and Utah, Suzannah, Wisconsin and just

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Speaker 2: a few specific people, it's your fault.

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Speaker 1: These are how the money listeners that you're singling out.

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Speaker 1: That's right, not cool, No, this is our Friday flight.

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Speaker 1: We're going to talk about the most important personal finance

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Speaker 1: stories that we've come across this week, the ones that

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Speaker 1: we think that you need to pay attention to. But

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Speaker 1: so speaking of individual listeners, man, let's give a quick

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Speaker 1: shout out to Rihanna. She sent us some macrons, the

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Speaker 1: little French she pronounced it macron unch president, not the

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Speaker 1: not macaroons, which are like the coconut cookies whatever, No,

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Speaker 1: you know, like the nice little French cookies. Incredibly well,

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Speaker 1: she is a phenomenal baker, send us some beers, but

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Speaker 1: also included some of her her handy.

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Speaker 2: Well, this time of year, it's like so to get

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Speaker 2: a baked gift in the mail feels like the greatest

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Speaker 2: little thing in the life.

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Speaker 1: So it included like an Irish car bomb, peanut butter

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Speaker 1: and jelly, cookies and cream version. You've tried all of

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Speaker 1: them at this point, they were all right. Which do

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Speaker 1: you have a favorite? Probably the the carbomb version that

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Speaker 1: she made, Oh yeah, but out of the cookies and creams.

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Speaker 1: So they were all so good. I like the PV

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Speaker 1: and J I was good to be kind of a

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Speaker 1: basic child at heart, but I thought they were awesome. Anyway,

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Speaker 1: give she have a chicken nugget version Chicken Nuggies. She's

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Speaker 1: on Instagram at Baker Underscore, r H, I Underscore, l

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Speaker 1: A and C. Give her a follow.

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Speaker 2: Yeah, we'll link to it in the show notes. But yeah,

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Speaker 2: big thanks to Ree for sending out our way. They

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Speaker 2: were delicious.

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Speaker 1: Really still snacking on them every day. I eat one

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Speaker 1: before I hop on the bike and go home. Yeah,

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Speaker 1: I mine with my family. You chose not to. I

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Speaker 1: told my kids that, and they were like, that doesn't

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Speaker 1: sound like mister Matt to share with my family. But simultaneously,

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Speaker 1: we have lots of suits and stuff at home, and

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Speaker 1: they're not going to appreciate it as much as I do.

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Speaker 1: They're just going to see a bunch of swets whereas

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Speaker 1: I know that this is a listener and we've answered

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Speaker 1: her question on the show, like I feel like we've

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Speaker 1: got a connection. You're connected to these suits, yes, and

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Speaker 1: they're also my fuel and it powers me on my

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Speaker 1: way home. We'll share a picture of some of her

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Speaker 1: handiwork up on our Instagram account for sure.

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Speaker 2: Sounds good. But Matt, before we get to the Friday flight,

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Speaker 2: I want to ask you one question. I during the

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Speaker 2: Black Friday deals, I bought almost nothing, but one thing

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Speaker 2: I did purchase was a subscription to huluc. It was

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Speaker 2: ninety nine cents a month for twelve months. It was

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Speaker 2: a heck of a deal. That's crazy cheap. Even if

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Speaker 2: we've watched two things on there, it'll have paid for itself.

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Speaker 2: But then on top of that, there was you could

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Speaker 2: add on Disney Plus for two dollars a month, and

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Speaker 2: I was like, okay, cool, Well, our Disney Plus subscription

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Speaker 2: is ending, let me take the deal in Disney Plus

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Speaker 2: two two bucks a year. That's twenty four bucks for

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Speaker 2: the whole year. Not too bad to get both those services, right,

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Speaker 2: But the last Disney Plus plan we had was commercial

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Speaker 2: free and this one has commercials and so the kids

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Speaker 2: are revolting. I guess my question for you is was

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Speaker 2: was that frugal cheap?

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Speaker 1: Did you or grinchy? Maybe? Did you know that it

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Speaker 1: included the ads? Yes? Okay, so you willingly entered into

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Speaker 1: this agreement? Yeah, because the savings were steep. Man, I

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Speaker 1: am so conflicted when it comes to advertisements, especially when

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Speaker 1: with kids, because like as adults, we are a little

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Speaker 1: more immune to the impact that ads can have on us.

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Speaker 1: Like I'm not. I think we are. I don't know.

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Speaker 1: I view myself slightly more advanced and mature than my

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Speaker 1: children when it comes to advertisements being placed. You're like

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Speaker 1: the Dwight trut of how the money? We've said, so

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Speaker 1: I guess it's worth giving it a shot. What's difficult

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Speaker 1: is that they have experienced a taste of like the

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Speaker 1: good life, and now you've walked it back, Whereas had

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Speaker 1: they never experienced it to begin with, I think it

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Speaker 1: would be totally fine, say, you know, being exposed to

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Speaker 1: ads and having their shows delayed. That's at the genie

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Speaker 1: back in the bottle. But I'm trying to do it.

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Speaker 1: Anytime you are exposed to some sort of luxury or convenience,

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Speaker 1: it is difficult to kind of walk those things back.

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Speaker 1: But I hear you though. When it comes to kids,

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Speaker 1: it makes me think about our breaks on our van

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Speaker 1: have been squealing and recently the kids were like, can

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Speaker 1: you do something about that? When you pull up to

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Speaker 1: pick us up, it squeaks and they're getting embarrassed. And

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Speaker 1: so I guess this is a larger question about when

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Speaker 1: do we choose to make purchases or spend extra money

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Speaker 1: to save, you know, just to make our kids feel better. Yeah, yes,

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Speaker 1: I don't know. I'm sure it depends on the individual,

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Speaker 1: depends on the kid, depends on just how you told

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Speaker 1: them to.

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Speaker 2: They keep complaining they're sleeping outside so and it's getting cold.

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Speaker 2: They don't want to do that, But I mean I

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Speaker 2: think they'll they'll get over it. And you know your

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Speaker 2: kids will get over those ads significant chunk of change

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Speaker 2: that we saved on that streaming service. So I was

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Speaker 2: claud I did it, even if they're giving me crap

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Speaker 2: for it. But Matt, let's move on. Let's give it

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Speaker 2: the Friday flight. It's a quickly sample of stories we

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Speaker 2: found interesting this week that pertain to your personal finances.

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Speaker 2: And I don't know about you, Matt. Have you put

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Speaker 2: up your Christmas lights or do you have do you

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Speaker 2: have Christmas lights?

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Speaker 1: So we don't have any. We just have the like

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Speaker 1: the greenery with a red bowk under each window, going tasteful,

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Speaker 1: low key, low key. Yeah, well, although I do want

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Speaker 1: to get lights because you see lights, and if a

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Speaker 1: house is done up real well at night, of course

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Speaker 1: you can see it.

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Speaker 2: You can't see the regular decorations. Yeah, I'm a fan

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Speaker 2: of lights. We didn't put them up blasher because we

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Speaker 2: had just moved in not too long before, but this

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Speaker 2: year we.

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Speaker 1: Were like, we gotta do it. Yeah, you're yeah, your

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Speaker 1: red lights up. They look really red.

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Speaker 2: Yeah, we look like we're in the red light district

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Speaker 2: in Amsterdam. But do not come a colin for that

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Speaker 2: in my house. But with hutility bills on the rise,

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Speaker 2: I think some folks might be wondering, Matt, like, how

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Speaker 2: much it's going to cost them to turn on the

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Speaker 2: lights every night, And the truth is it's it's not

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Speaker 2: very much. I did see the stat though, apparently we

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Speaker 2: use more energy running Christmas lights in the United States

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Speaker 2: than El Salvador uses to power everything in their country

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Speaker 2: in a given year, which is kind of crazy, but still,

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Speaker 2: you know, The reality is that turning on your lights

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Speaker 2: is not going to cost you much at all, especially

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Speaker 2: I mean if we're talking to LED bulbs at least.

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Speaker 1: Right.

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Speaker 2: Yeah, it used to be a lot more expensive, but

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Speaker 2: it's become a lot cheaper thanks to LED bulbs, which

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Speaker 2: us like ninety percent less electricity than traditional bulbs used

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Speaker 2: to It's significant, significant savings. So running five strands of

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Speaker 2: LED bulbs for six hours each day for the month

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Speaker 2: of December will set you back roughly nine dollars. That's

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Speaker 2: not bad, and it almost, Matt and almost. I know

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Speaker 2: some people keep up their Christmas decorations year round, and

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Speaker 2: I used to scoff at that. I don't know, I'm

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Speaker 2: kind of leaning more into that camp. I understand it,

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Speaker 2: and I might become one of those people at some point.

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Speaker 1: Well, the problem is is your bulbs are red so

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Speaker 1: you can see them. I mean you can see them

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Speaker 1: up on your trim even during the day, right.

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Speaker 2: Yeah, Okay, so if they were I actually leave the

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Speaker 2: likes on during the day, even though you you can't

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Speaker 2: wait to talk about somebody who's it seems like he's

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Speaker 2: flushed with hash here might cost me an extra five bucks.

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Speaker 1: No, it was so my favorite part of this article.

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Speaker 1: They referenced a study by a power company and they

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Speaker 1: calculated how much it would have cost the Griswolds. So

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Speaker 1: for Lampoon's Christmas vacation, how much it would have cost

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Speaker 1: them back in the day, because of course back then

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Speaker 1: they didn't have LED, so they were rocking the traditional

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Speaker 1: incandescent bulbs, and it was something like seventy five hundred

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Speaker 1: dollars for the month of December, pouch. That is a

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Speaker 1: ton of money versus if they made a twenty twenty

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Speaker 1: three remake and he used all LED bulbs, it would

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Speaker 1: just be it would actually be around fifteen hundred dollars,

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Speaker 1: which is yea a massive sure if you wanted to

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Speaker 1: light up the neighborhood.

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Speaker 2: There's this one house that we always stop at and

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Speaker 2: they've got like tons and tons of lights up is

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Speaker 2: in between our house and my parents' house, and they

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Speaker 2: actually have like a donation box like electricity couse, so

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Speaker 2: you put a fiber in there.

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Speaker 1: Back in the day. It certainly made a ton of sense.

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Speaker 2: We stop to look at it at least four or

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Speaker 2: five times during the season, so we definitely have to

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Speaker 2: pay them.

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Speaker 1: A little bit. I love it well maybe you can

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Speaker 1: show them to that house. Heys, like, show them some

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Speaker 1: coupons where they can upgrade to LED bulls, which is

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Speaker 1: so you've got your last LEDs if they're spending fifteen

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Speaker 1: hundred bucks. Yeah, that's true, I guess over the course

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Speaker 1: of the month. Okay, so since we're talking electricity, let's

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Speaker 1: pivot to electric vehicles because it seems like EV's are

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Speaker 1: falling out of favor with basically everyone. Uh So, government mandates,

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Speaker 1: they're trying to spur they're trying to force some EV adoption,

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Speaker 1: but consumers in the US aren't as on board as

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Speaker 1: say the Norwegians, where people, yeah they've I think of

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Speaker 1: all the cars that were sold in twenty twenty two,

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Speaker 1: eighty eight percent of them were electric vehicles. That's like

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Speaker 1: five x even California gangbusters. Men. But there's a new

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Speaker 1: survey from Consumer Reports. They found that evs aren't as

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Speaker 1: reliable as their internal combustion engine counterparts. So maybe that's

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Speaker 1: just one of the reasons why a lot of folks

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Speaker 1: here in the US aren't taking to them as much

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Speaker 1: as the Norwegians. But the big winner in that latest

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Speaker 1: survey is actually straight up hybrids. So folks, They of

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Speaker 1: course want to spend less on gas, but they're not

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Speaker 1: completely sold on evs yet, as the solution for them

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Speaker 1: makes sense as well, because the infrastructure isn't completely there yet,

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Speaker 1: we don't have like the range that maybe folks were

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Speaker 1: hoping for at this point in time. So should our

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Speaker 1: response be, well, EV's they still cost a pretty penny,

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Speaker 1: with maybe the exception of the Bolts and some of

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Speaker 1: their recent Tesla price cuts. And even though EV's have

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Speaker 1: a bright future, I guess we'd that they kind of

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Speaker 1: have a murky and expensive present. It's cost a lot

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Speaker 1: of money, and some of the problems that folks are

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Speaker 1: going to encounter are are actually more abundant than yeah,

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Speaker 1: folks were expecting.

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Speaker 2: Who would have thought the lowly Prius kind of would

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Speaker 2: stand out kind of amongst modern car offerings. It's been

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Speaker 2: around a long time, but man, that thing keeps hugging.

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Speaker 2: And for anybody who's owned a Prius knows this thing

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Speaker 2: is like a workhorse, right and all. It doesn't save

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Speaker 2: me money on gas, you know, you know they're plug

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Speaker 2: in Priuses as well.

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Speaker 1: Oh yeah, yeah, the Prious prime maybe as always, Yes, yeah,

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Speaker 1: they they got like the prime line and we've slowly

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Speaker 1: started talking about what it would look like to have

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Speaker 1: a second vehicle, like what kind of car vehicle would

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Speaker 1: that be? And we're thinking, man, it makes sense to

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Speaker 1: get something as small and cheap to run as possible.

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Speaker 1: And when I've discovered that, because I've been lamenting the

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Speaker 1: fact that they're that there's only one van manufacturer that

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Speaker 1: makes a plug in van and it's a Chrysler, and Chrysler,

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Speaker 1: I mean, they're like at the bottom of the heat

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Speaker 1: when it comes to reliability. So that also gives me.

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Speaker 2: Pause for sure. Well, yeah, it's these are these are

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Speaker 2: interesting stats. It's it's it's noteworthy to you have these

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Speaker 2: problems with electric vehicles and that yet they're still being

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Speaker 2: pushed on us and a lot of people are balking.

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Speaker 2: And I drove a Nissan Leaf for six years, so

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Speaker 2: I'm not anti EV. I kind of there's a lot

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Speaker 2: I like about them. But there's also a lot of

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Speaker 2: potential develop EV development happening with like like let's say

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Speaker 2: Toyota solid state batteries that could change the game in

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Speaker 2: a few years. So maybe people are also saying, wait

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Speaker 2: a second, the technology has changed really quickly. I don't

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Speaker 2: know that I necessarily want to adopt an electric vehicle

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Speaker 2: right now.

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Speaker 1: Just yeah, maybe let's wait until the range doubles due

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Speaker 1: to those at batteries. Yeah, And I mean, I think

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Speaker 1: the lack of maintenance is because their evs are kind

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Speaker 1: of like glorified golf carts. That's really nice, and I

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Speaker 1: think that's a benefit of electric vehicles. But yeah, these

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Speaker 1: car manufacturers are still figuring things out, and they don't

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Speaker 1: have the EB production dialed in at least a lot

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Speaker 1: of them, and they certainly don't have profitability dialed in

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Speaker 1: on electric vehicles either.

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Speaker 2: That's going to take time. But I think it is

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Speaker 2: important to remember that the EV tax incentive is going

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Speaker 2: to be around for years to come, so there's not

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Speaker 2: even a rush to snag one right away. Right But

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Speaker 2: then on the flip side, the how where the EV

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Speaker 2: market is right now offers the potential to score a

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Speaker 2: lower price, And there's this article in Bloomberg about why

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Speaker 2: now is actually the best time to buy an EV

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Speaker 2: and that's because they're kind of stacking up on dealer

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Speaker 2: lots unloved. So I guess all that to be said,

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Speaker 2: if you're if you're not necessarily in the market for

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Speaker 2: an ev nothing should probably push you over the edge

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Speaker 2: into that. But if you are considering one, well, and

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Speaker 2: you're targeting one of the cheaper models, there have been

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Speaker 2: significant sticker price discounts. Those are becoming the norm, not

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Speaker 2: the exception. The Kona, for instance, the Hyundai Kona, it's

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Speaker 2: like thirty one percent off MSRP locally where we are,

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Speaker 2: Matt and so for a while it was like even

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Speaker 2: getting a bolt or a ConA for MSRP was laughable.

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Speaker 2: But now there are significant discounts on a lot of

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Speaker 2: these models.

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Speaker 1: Yeah. So on a related note, gas prices have dropped

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Speaker 1: a decent bit over the past few months, which is

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Speaker 1: contributing to that all important inflation number coming down. And

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Speaker 1: that is despite the geopolitical messes that would normally lead

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Speaker 1: to higher prices for Americans at the pump. So just

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Speaker 1: think of war in the Middle East that would typically

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Speaker 1: have a massive impact on what it is that we're

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Speaker 1: paying for our gasoline has in the past. Yeah, So

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Speaker 1: why aren't oil and gas prices going up? Well, that's

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Speaker 1: because US oil production has actually reached record highs. We're

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Speaker 1: basically a bigger player on the world stage when it

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Speaker 1: comes to the supply of fossil fuels. We've almost basically

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Speaker 1: we've like doubled our production over the past decade, which

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Speaker 1: isn't something that I think a lot of how many

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Speaker 1: people were predicting we're familiar with. We actually produce more

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Speaker 1: oil now than Saudi Arabia, like almost twice as much.

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Speaker 1: We actually consume less than we produce. So we're certainly

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Speaker 1: excited about the growing impact of green energy technology that's

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Speaker 1: advancing electric vehicles in particular, But fossil fuels are still

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Speaker 1: a necessity, and our growing production is creating a more

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Speaker 1: consumer friendly market with fewer price shocks, So that's something

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Speaker 1: we can all be thankful for for sure.

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Speaker 2: Agreed all right, On the note of going green and

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Speaker 2: end of your taxes, Matt, we should maybe mention that

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Speaker 2: there are still tax credits available for energy efficiency upgrades.

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Speaker 2: We did a deep dive on that in episode six

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Speaker 2: fifty six. But now is kind of a time where

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Speaker 2: you might say, wait a second, let me put some

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Speaker 2: insulation in the attict so I can get a tax

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Speaker 2: break before the end of the year and ensure some

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Speaker 2: additional savings through the winter. Right by having that insulation

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Speaker 2: on hand, curbing your electricity or natural gas usage, right,

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Speaker 2: and so yeah, they're like, I actually took advantage of

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Speaker 2: this in this format. I put in insulation. I put

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Speaker 2: in a mini split this year, and so I just

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Speaker 2: want to mention to be.

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Speaker 1: Thirty percent off those bad boys.

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Speaker 2: Thirty percent off. Man, that's a steep discount. But be

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Speaker 2: sure to read the fine print on energy tax credits

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Speaker 2: because there's a cap on specific projects, and there's a

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Speaker 2: maximum tax credit that you can get in a specific year.

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Speaker 2: The max that you can get in one year's thirty

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Speaker 2: two hundred bucks. So splitting up those projects over the

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Speaker 2: course of multiple years in order to maximize your tax

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Speaker 2: benefit would be wise. Don't and start with the little

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Speaker 2: hanging fruit too, right, Don't just go start replacing your

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Speaker 2: windows for much more energy efficient ones. Windows are one

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Speaker 2: of the more expensive things to replace. Insulation is one

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Speaker 2: of the easy cheap things. So maybe start there, but

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Speaker 2: eventually you might want to work up to windows.

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Speaker 1: I don't know, speak for yourself. I'm going to go

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Speaker 1: straight to the small residential winter by and to create

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Speaker 1: a little extra juice you neighbors will love you our household. Okay,

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Speaker 1: since we're talking about taxes, we had good news to

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Speaker 1: offer last week when it came to the IRS. But

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Speaker 1: we got bad news this week. Rising interest rates. They

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Speaker 1: have led to higher penalties if you pay your taxes late,

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Speaker 1: if you underpay specifically your estimates. So two years ago,

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Speaker 1: if you underpaid your taxes, you paid amazingly three percent penalty.

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Speaker 1: Too bad, not yeah, but now you're gonna be hit

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Speaker 1: with an eight percent penalty, which is huge. Mostly applies

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Speaker 1: to self employed individuals, but it could also impact W

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Speaker 1: two workers as well, like in particular folks who either

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Speaker 1: started a small business like on the side and they

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Speaker 1: weren't accounting for the income generated there, or if you

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Speaker 1: are one percent working at your nine to five but

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Speaker 1: maybe you got a big bonus. In those instances, there

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Speaker 1: is additional money that the IRS is looking for. And

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Speaker 1: so the way that you avoid this penalty is by

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Speaker 1: adjusting your withholdings to make sure that you're paying enough

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Speaker 1: tax through the year specif if you're a W two employee,

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Speaker 1: and then for all the self employed folks out there,

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Speaker 1: just air on the side of caution where you're making

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Speaker 1: sure that you're paying at least ninety percent of the

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Speaker 1: tax that you owe for the current year. And if

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Speaker 1: you find that your income has risen substantially. As a

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Speaker 1: self employed person, just reassess your payments without diving into

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Speaker 1: the weeds. If you know you're going to make more

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Speaker 1: this year than last year, you just need to make

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Speaker 1: sure that you're paying one hundred percent of the tax

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Speaker 1: that you owed last year. That is, of course, unless

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Speaker 1: you are a single filer and you're making at least

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Speaker 1: seventy five thousand dollars, or if you're married filing jointly

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Speaker 1: and you're making at least one hundred and fifty thousand dollars.

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Speaker 1: In those cases, if you're making more this year compared

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Speaker 1: to last year, you want to make sure you're paying

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Speaker 1: one hundred and ten percent of what you paid last year.

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Speaker 1: So pretty straightforward, yeah, but there is very far but

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Speaker 1: also means there's some math involved and you have to

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Speaker 1: pay tention of details. Luckily, the IRS they've got a

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Speaker 1: calculator though, where you can go in there you can

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Speaker 1: enter in your wages and information from previous years to

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Speaker 1: know where you stand. That way you can make sure

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Speaker 1: that you avoid this pretty big eight percent penalty. Man,

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Speaker 1: it's not cool.

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Speaker 2: Percent penalty feels like a slap on the wrist. An

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Speaker 2: eight percent penalty feels like a slap in the face,

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Speaker 2: and like, I don't want the slap in the face.

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Speaker 1: I want to avoid that.

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Speaker 2: So I'm gonna pay Uncle Sam when I owe them

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Speaker 2: in order to avoid getting having to pay more money

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Speaker 2: that I don't want to go into their hands. I

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Speaker 2: want to stay in my pocket. So, yeah, that's really

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Speaker 2: important thing to match. Thanks for bringing that up. But

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Speaker 2: now we got more we get to on this episode,

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Speaker 2: including that story about inflation being our fault?

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Speaker 1: Is that true or is it gaslining? We'll talk about

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Speaker 1: that right after this. Right, dude, we are back and

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Speaker 1: it is now time where the ludicrous headline of the week.

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Speaker 1: This one comes my favorite time of the week. Yeah, yes, man,

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Speaker 1: as well. The Atlantic is where we got this one.

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Speaker 1: It's quite provocative and we basically already said the headline

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Speaker 1: in the name of the article inflation is your fault.

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Speaker 1: I think the subhead was if everyone is so mad

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Speaker 1: about high prices, why do they keep buying expensive things?

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Speaker 1: And as usual, there's some to the claim of this headline.

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Speaker 1: To a certain extent, we have control over the money

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Speaker 1: that we are spending. There's a kernel of truth here. Yeah,

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Speaker 1: but it's also incredibly reductionist. Americans aren't very happy about

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Speaker 1: how much prices have risen. Actually, there is a recent

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Speaker 1: poll that found that most folks would rather see prices

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Speaker 1: fall than to see their wages increase. But should we

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Speaker 1: actually blame them for these higher prices? Well author any

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Speaker 1: Lowry over the Atlantic, She says that the answer is yes,

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Speaker 1: but man, like, let's be real. Inflation is the result

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Speaker 1: of many factors, like several things coming together that are

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Speaker 1: out of our control. Let's just mention a few COVID,

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Speaker 1: the semi checks, supply chain issues, all those snarls of

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Speaker 1: the container ships that are all parked off the coast

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Speaker 1: of California back in the day, just different wars in

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Speaker 1: other parts of the world. To put inflation at the

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Speaker 1: feet of us consumers who are spending money that was

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Speaker 1: just thrust into our hands, it feels a bit disingenuous.

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Speaker 1: And you said before the break, you caught it like

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Speaker 1: gas lighting. But it's not like they're trying to eve

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Speaker 1: confuse us about it and like think that we're crazy.

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Speaker 1: It's like victim blaming essentially. Like it makes me think

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Speaker 1: about like an analogy would be like if you've got

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Speaker 1: your dog, you know, those retractable leashes. Yeah, yeah, you're

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Speaker 1: like really really long, huh. And you're like, why does

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Speaker 1: my dog always like take off running and they're like

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Speaker 1: twenty feet, Well you got the retractable leash. Man Like,

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Speaker 1: if you had a six foot leash, then your dog

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Speaker 1: would stay near you. But if you're gonna give us

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Speaker 1: as consumers that much leeway, that much slack, well, of

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Speaker 1: course we're gonna explore and see where what all all

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Speaker 1: the fun things that we can sniff, especially America's right,

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Speaker 1: And so I completely agree with you, Matt.

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Speaker 2: I think inflation is a result of all of those

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Speaker 2: other things for the most part. But again there's that

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Speaker 2: kernel of truth, right, and so Amy isn't completely wrong

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Speaker 2: in her assessment here either. And one sure, one line

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Speaker 2: from her article, she says, people hate inflation, just not

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Speaker 2: enough to spend less, and that is spot on too.

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Speaker 1: Right.

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Speaker 2: We've talked about how everybody individually experiences inflation, and it's relative,

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Speaker 2: so much depends on how you spend money specifically. And

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Speaker 2: so let's say you bought a new car last year,

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Speaker 2: you bought a new house too, your personal rate of

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Speaker 2: inflation was significantly higher than the generic CPI number. Right,

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Speaker 2: you have to say Yeah, So refusing to pay higher

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Speaker 2: prices is a real way to combat inflation, at least

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Speaker 2: in your own life. Right, You can't do that on

433
00:19:08,720 --> 00:19:11,640
Speaker 2: every single front, and none of us can single handedly

434
00:19:11,720 --> 00:19:15,680
Speaker 2: combat inflationary realities altogether. Right, But there's also kind of

435
00:19:15,720 --> 00:19:18,040
Speaker 2: a bit of Captain Planet in this, right, where our

436
00:19:18,080 --> 00:19:22,080
Speaker 2: powers combine help us to achieve something that would otherwise

437
00:19:22,359 --> 00:19:23,520
Speaker 2: be impossible alone.

438
00:19:23,960 --> 00:19:26,520
Speaker 1: What was the following line after With our powers combined,

439
00:19:26,720 --> 00:19:29,440
Speaker 1: we are captain Planet. I think, Yeah, I was thinking

440
00:19:29,520 --> 00:19:32,120
Speaker 1: we can prevent forest fires. That's another that's a whole

441
00:19:32,160 --> 00:19:34,240
Speaker 1: other mascot. Yeah, I just I guess.

442
00:19:34,280 --> 00:19:37,840
Speaker 2: I think the more we balk at expensive prices like flights,

443
00:19:37,920 --> 00:19:41,080
Speaker 2: concert tickets in particular right now, grub hub, electric vehicles,

444
00:19:41,119 --> 00:19:43,200
Speaker 2: even whatever it is, the less we're going to pay

445
00:19:43,680 --> 00:19:45,439
Speaker 2: for those things in the future, the more those companies

446
00:19:45,440 --> 00:19:49,080
Speaker 2: are forced to reckon with this new reality. When we

447
00:19:49,440 --> 00:19:51,920
Speaker 2: kind of walk with our dollars, it matters. And it's

448
00:19:51,920 --> 00:19:54,959
Speaker 2: not that we can affect this global massive change, but

449
00:19:55,040 --> 00:19:56,960
Speaker 2: we can affect change in our own lives, and that

450
00:19:57,200 --> 00:19:59,760
Speaker 2: small drop in the bucket does matter. It makes it

451
00:19:59,800 --> 00:20:01,360
Speaker 2: dif diference. So I don't know, I guess I'm gonna

452
00:20:01,359 --> 00:20:03,280
Speaker 2: give this Atlantic article two and a half stars on

453
00:20:03,280 --> 00:20:04,399
Speaker 2: the truthiness.

454
00:20:03,880 --> 00:20:08,840
Speaker 1: Meter on the Stephen Cole on the Colbert Remo. Exactly. No,

455
00:20:08,960 --> 00:20:10,600
Speaker 1: I'm totally with you, and this this kind of makes

456
00:20:10,600 --> 00:20:12,320
Speaker 1: me like back at the beginning of the episode, when

457
00:20:12,359 --> 00:20:15,720
Speaker 1: we're talking about going back to commercials, it's putting the

458
00:20:15,760 --> 00:20:17,919
Speaker 1: toothpaste back in the tube, it's putting the cat back

459
00:20:17,960 --> 00:20:20,560
Speaker 1: in the bag. Once we've experienced a taste of what

460
00:20:20,560 --> 00:20:22,600
Speaker 1: it's like to not have to experience those things, it's

461
00:20:22,600 --> 00:20:24,879
Speaker 1: difficult to walk it back. And as American, like I

462
00:20:24,920 --> 00:20:28,240
Speaker 1: feel like our country has gotten soft and we avoid

463
00:20:28,400 --> 00:20:31,680
Speaker 1: doing the hard things, and oftentimes we are willing to

464
00:20:31,760 --> 00:20:35,000
Speaker 1: spend whatever it takes to achieve the results of those

465
00:20:35,080 --> 00:20:38,760
Speaker 1: typically hard actions that would otherwise it would have taken.

466
00:20:39,160 --> 00:20:41,600
Speaker 1: There's a lot of luxury and comfort now that we're

467
00:20:41,640 --> 00:20:44,639
Speaker 1: just that we've gotten used to, and man, it's really

468
00:20:44,680 --> 00:20:47,360
Speaker 1: difficult to dial that back unless you've got not only

469
00:20:47,440 --> 00:20:51,080
Speaker 1: Joel as your parent, but maybe as president, yes, dictator.

470
00:20:52,080 --> 00:20:53,399
Speaker 2: Well yeah, I mean I think once you've lived in

471
00:20:53,400 --> 00:20:54,720
Speaker 2: this single family home, it's hard to go back to

472
00:20:54,720 --> 00:20:55,560
Speaker 2: apartment living, you know.

473
00:20:55,640 --> 00:20:59,159
Speaker 1: Yes, Okay, So there was another interesting headline from Axios

474
00:20:59,240 --> 00:21:02,920
Speaker 1: last week tie why you shouldn't give to charity, But

475
00:21:03,119 --> 00:21:06,959
Speaker 1: like usual, the Internet loves a splashy contrarian headline without

476
00:21:06,960 --> 00:21:09,480
Speaker 1: the follow through. The actual heart of this article was

477
00:21:09,600 --> 00:21:12,760
Speaker 1: quite helpful. It was explaining how many Americans would be

478
00:21:12,760 --> 00:21:16,480
Speaker 1: better off donating appreciated stock instead of cash, and that's

479
00:21:16,480 --> 00:21:19,479
Speaker 1: totally true. We'll link to the article explaining the details.

480
00:21:19,480 --> 00:21:23,080
Speaker 1: They gave a great example, but tax savings could be significant,

481
00:21:23,080 --> 00:21:26,359
Speaker 1: for instance, one thousand dollars on a donation of three

482
00:21:26,359 --> 00:21:30,000
Speaker 1: thousand dollars if you were to donate appreciated stocks instead

483
00:21:30,000 --> 00:21:32,359
Speaker 1: of money, just straight up cash from your checking or

484
00:21:32,359 --> 00:21:35,639
Speaker 1: your savings account. We touched on this with Sean on Wednesday,

485
00:21:36,520 --> 00:21:39,879
Speaker 1: as far as donating appreciated stocks rather than actual cash.

486
00:21:40,080 --> 00:21:43,800
Speaker 1: But the fact is this does benefit a minority of folks,

487
00:21:43,880 --> 00:21:46,960
Speaker 1: Like more folks are probably working on getting their wroth

488
00:21:47,000 --> 00:21:50,480
Speaker 1: iras fully maxed out. And you can't like there's no

489
00:21:50,520 --> 00:21:52,760
Speaker 1: capital gains when it comes to roth irays because you

490
00:21:52,760 --> 00:21:54,320
Speaker 1: pay the tax on the front end like a rich

491
00:21:54,320 --> 00:21:57,000
Speaker 1: people maneuver. Yeah, but hey, we're talking to the how

492
00:21:57,000 --> 00:21:59,120
Speaker 1: to money listeners man. Over time, more and more folks

493
00:21:59,160 --> 00:22:01,639
Speaker 1: are going to find themselves saying, oh, I'm going to

494
00:22:01,680 --> 00:22:04,080
Speaker 1: invest some a little more money in my brokerage account,

495
00:22:04,280 --> 00:22:06,639
Speaker 1: and the ability to funnel some of those dollars towards

496
00:22:06,680 --> 00:22:10,520
Speaker 1: charities and then to essentially replace those donated stocks with

497
00:22:10,840 --> 00:22:14,800
Speaker 1: new purchases of that ETF and specifically that is the

498
00:22:14,840 --> 00:22:16,639
Speaker 1: way to go. It's not something that we've talked a

499
00:22:16,680 --> 00:22:18,399
Speaker 1: lot about, but it is good to know that that

500
00:22:18,480 --> 00:22:20,320
Speaker 1: is an option. I do think it's something that we'll

501
00:22:20,320 --> 00:22:21,800
Speaker 1: talk about more here on the show.

502
00:22:21,600 --> 00:22:24,160
Speaker 2: At least some how to money listeners benefit from hearing

503
00:22:24,160 --> 00:22:27,920
Speaker 2: this information because they qualify because they have money. Their

504
00:22:28,000 --> 00:22:30,959
Speaker 2: accounts have gone up, especially this year, and if they're saying, oh,

505
00:22:31,000 --> 00:22:33,680
Speaker 2: I want to give to my favorite charity, well maybe

506
00:22:33,720 --> 00:22:36,320
Speaker 2: it makes sense to give some of those appreciated securities

507
00:22:36,359 --> 00:22:39,520
Speaker 2: instead of just giving money, writing a check or tossing

508
00:22:39,520 --> 00:22:42,120
Speaker 2: a donation from your savings account. Totally, and I would

509
00:22:42,160 --> 00:22:44,840
Speaker 2: say giving is great, but giving efficiently is even better, right,

510
00:22:44,880 --> 00:22:47,679
Speaker 2: And so you can even donate those appreciated securities to

511
00:22:47,720 --> 00:22:50,440
Speaker 2: your donor advice fund, which we've talked about a decent

512
00:22:50,480 --> 00:22:51,960
Speaker 2: bit here on the show. It's one of the best

513
00:22:51,960 --> 00:22:55,719
Speaker 2: ways to proceed with your plans. For generosity in our opinion,

514
00:22:56,080 --> 00:22:59,399
Speaker 2: and we'll link to articles about donor advice ones in

515
00:22:59,440 --> 00:23:01,200
Speaker 2: the show notes that can help you kind of parse

516
00:23:01,240 --> 00:23:02,760
Speaker 2: through whether or nothing makes sense for you and how

517
00:23:02,760 --> 00:23:05,360
Speaker 2: effective they can be. But don't forget, only about ten

518
00:23:05,400 --> 00:23:09,159
Speaker 2: to twelve percent of households itemized deductions, and if you

519
00:23:09,200 --> 00:23:12,800
Speaker 2: don't itemize your deductions, you don't get a tax benefit

520
00:23:13,000 --> 00:23:16,160
Speaker 2: from giving money away. And so this is probably, again Matt,

521
00:23:16,240 --> 00:23:18,880
Speaker 2: this a higher percentage of How to Money listeners. It's

522
00:23:19,320 --> 00:23:22,600
Speaker 2: qualify for this because of their financial prowess. But we

523
00:23:22,680 --> 00:23:25,320
Speaker 2: suggest generosity even if it doesn't come with a tax break.

524
00:23:25,600 --> 00:23:28,200
Speaker 2: Still jumping through these hoops, it's not going to brovide

525
00:23:28,200 --> 00:23:29,920
Speaker 2: you any sort of benefit from Uncle Sam. If that's

526
00:23:29,920 --> 00:23:32,040
Speaker 2: the case, if you are taking the standard deduction you

527
00:23:32,080 --> 00:23:34,520
Speaker 2: don't get a tax benefit. It still doesn't mean it's

528
00:23:34,560 --> 00:23:35,679
Speaker 2: a dumb idea exactly.

529
00:23:35,840 --> 00:23:39,120
Speaker 1: Yeah, we love for folks to give money away because

530
00:23:39,160 --> 00:23:41,760
Speaker 1: it changes your attitude, it changes your posture towards money,

531
00:23:41,760 --> 00:23:43,960
Speaker 1: and that's especially helpful for us to do. I mean,

532
00:23:44,280 --> 00:23:46,160
Speaker 1: money is what we talk about here on the show,

533
00:23:46,160 --> 00:23:48,320
Speaker 1: and so because of that, I feel like it's extra risk,

534
00:23:48,400 --> 00:23:50,800
Speaker 1: not risky, but something we have to be careful of.

535
00:23:51,119 --> 00:23:54,200
Speaker 1: We've got a dollar sign on our wall over here.

536
00:23:54,280 --> 00:23:56,080
Speaker 1: Is that it could be easy when you've got to

537
00:23:56,080 --> 00:23:57,680
Speaker 1: show this called how to money for us to become

538
00:23:57,720 --> 00:24:00,720
Speaker 1: overly focused all on actual dollars, have like a tractor

539
00:24:00,760 --> 00:24:03,240
Speaker 1: beam sort of poll. Yeah, ye, one hundred percent man, Okay.

540
00:24:03,240 --> 00:24:06,000
Speaker 1: So the opposite of giving to charity is spending money

541
00:24:06,000 --> 00:24:11,160
Speaker 1: like there's no tomorrow while scrolling TikTok that's happening. TikTok

542
00:24:11,240 --> 00:24:15,000
Speaker 1: shop only launched in September, and as the La Times

543
00:24:15,040 --> 00:24:18,280
Speaker 1: put it, TikTok shop is dangerously good at getting us

544
00:24:18,280 --> 00:24:21,520
Speaker 1: to spend our money. We're spending just shy. I'm not

545
00:24:21,560 --> 00:24:23,760
Speaker 1: going to say we because I'm not spending my money

546
00:24:23,760 --> 00:24:26,880
Speaker 1: on TikTok shop Americans. Mean even that's one good reason

547
00:24:26,920 --> 00:24:29,760
Speaker 1: to avoid it. But Americans are spending just shy of

548
00:24:29,920 --> 00:24:33,760
Speaker 1: ten million dollars a day now on the site while

549
00:24:33,760 --> 00:24:36,879
Speaker 1: they're receiving pitches from influencers that they've been following for

550
00:24:36,920 --> 00:24:39,119
Speaker 1: a while. So what you need to do is keep

551
00:24:39,160 --> 00:24:42,439
Speaker 1: in mind that your feed is curated TikTok. They know

552
00:24:42,720 --> 00:24:45,680
Speaker 1: so much about you. Honestly, it would be helpful if

553
00:24:46,119 --> 00:24:48,600
Speaker 1: we had as much information as TikTok does about our

554
00:24:48,640 --> 00:24:51,399
Speaker 1: loved ones. Oh my god, I wish by the perfect

555
00:24:51,400 --> 00:24:52,960
Speaker 1: present f I know, yeah, that's what I was thinking of.

556
00:24:53,000 --> 00:24:55,600
Speaker 1: I was like, man, TikTok knows exactly what to feed

557
00:24:55,640 --> 00:24:57,919
Speaker 1: me if if only we could, like they would if

558
00:24:57,920 --> 00:25:00,840
Speaker 1: you were on the buds. Instagram does a really good

559
00:25:00,920 --> 00:25:02,320
Speaker 1: job with it as well. But the fact that they

560
00:25:02,359 --> 00:25:05,000
Speaker 1: have so much data on us as consumers means that

561
00:25:05,000 --> 00:25:08,639
Speaker 1: they're incredibly adept at using that data. That information the

562
00:25:08,720 --> 00:25:11,480
Speaker 1: prime money from your fingers. And it might be a deal,

563
00:25:11,520 --> 00:25:13,960
Speaker 1: but do you necessarily need to buy that thing? Most

564
00:25:14,000 --> 00:25:15,680
Speaker 1: likely no, and sometimes it's non deal.

565
00:25:15,760 --> 00:25:18,000
Speaker 2: And I will say that the creators who are pitching

566
00:25:18,040 --> 00:25:20,399
Speaker 2: these items are getting a cut, right, And so it

567
00:25:20,480 --> 00:25:22,200
Speaker 2: might seem like they're just normal folks who live down

568
00:25:22,200 --> 00:25:23,920
Speaker 2: the street from you. Oh that's just the kid next

569
00:25:23,920 --> 00:25:27,240
Speaker 2: door who got this acting medication that's working perfectly for him.

570
00:25:27,400 --> 00:25:30,119
Speaker 2: But maybe he's making ten twenty grand a month selling

571
00:25:30,160 --> 00:25:31,680
Speaker 2: this stuff to his followers.

572
00:25:31,720 --> 00:25:34,280
Speaker 1: Is proactive back, because that was the thing that I mean,

573
00:25:34,320 --> 00:25:36,440
Speaker 1: I know when I was a teenager, I was like,

574
00:25:36,440 --> 00:25:37,639
Speaker 1: oh do I get my hands on that? So I

575
00:25:37,720 --> 00:25:39,320
Speaker 1: now get rid of these blumishes.

576
00:25:39,000 --> 00:25:41,120
Speaker 2: Just because the cool celebrities were pitching it, that's why, right,

577
00:25:41,400 --> 00:25:43,480
Speaker 2: Or are there celebrities? Oh yeah, but I don't remember that.

578
00:25:43,520 --> 00:25:45,359
Speaker 2: I just remember thinking, looks like that stuff works. I

579
00:25:45,359 --> 00:25:46,720
Speaker 2: think Jessica Simpson's sister.

580
00:25:46,560 --> 00:25:47,040
Speaker 1: Was one of them.

581
00:25:47,680 --> 00:25:50,240
Speaker 2: Yeah, she was the dark haired one celebrity in her

582
00:25:50,240 --> 00:25:53,359
Speaker 2: own ride, I guess. But it's it is hard to

583
00:25:53,440 --> 00:25:56,000
Speaker 2: know right whether the person you're following what they're mentioning

584
00:25:56,600 --> 00:25:58,760
Speaker 2: is it because they really enjoy appreciate that thing, or

585
00:25:58,800 --> 00:26:00,840
Speaker 2: is it because they're making money getting you to click

586
00:26:00,880 --> 00:26:04,159
Speaker 2: and purchase. And I would lean towards the ladder in

587
00:26:04,280 --> 00:26:06,000
Speaker 2: a whole lot of cases. So some of them are

588
00:26:06,000 --> 00:26:08,480
Speaker 2: making just significant amounts of money from those pitches. TikTok

589
00:26:08,560 --> 00:26:12,240
Speaker 2: Matt to me feels like the new QBC equivalent Amazon too.

590
00:26:12,280 --> 00:26:15,040
Speaker 2: Amazon's got elements of that as well. What's old is

591
00:26:15,119 --> 00:26:17,720
Speaker 2: new again, and so it's just updated for the modern age.

592
00:26:17,840 --> 00:26:19,679
Speaker 2: Just be careful when you're scrolling out there, folks, and

593
00:26:19,960 --> 00:26:22,120
Speaker 2: less time in general. Scrolling is going to be better

594
00:26:22,119 --> 00:26:24,760
Speaker 2: for you for so many reasons. But oh yeah, particularly

595
00:26:24,760 --> 00:26:28,040
Speaker 2: from a financial perspective. Now, given the number of pitches

596
00:26:28,040 --> 00:26:31,040
Speaker 2: and the amount of people trying to sell you things.

597
00:26:31,280 --> 00:26:35,240
Speaker 2: The more you can avoid the gauntlet, the arena that's

598
00:26:35,240 --> 00:26:36,920
Speaker 2: trying to sell you stuff all the time, the better

599
00:26:36,960 --> 00:26:37,560
Speaker 2: off you're going to be.

600
00:26:37,600 --> 00:26:39,159
Speaker 1: I get it. Yeah. And what you said to you

601
00:26:39,200 --> 00:26:42,120
Speaker 1: about limiting your time, that's something I've actually done recently,

602
00:26:42,320 --> 00:26:46,000
Speaker 1: Like a few weeks ago, I finally navigated through the

603
00:26:46,000 --> 00:26:50,240
Speaker 1: settings and instituted a screen time limit, specifically on Instagram,

604
00:26:50,280 --> 00:26:53,560
Speaker 1: because that's my social media app of choice, I guess.

605
00:26:53,960 --> 00:26:56,480
Speaker 1: And after fifteen minutes of use during that day, the

606
00:26:56,520 --> 00:26:58,399
Speaker 1: little screen pops up and just tells me, Hey, your

607
00:26:58,440 --> 00:27:00,520
Speaker 1: time's up. I love it. It's freaking off. Could you go

608
00:27:00,520 --> 00:27:02,440
Speaker 1: in there and override yourself? Oh yeah, Like it tells

609
00:27:02,440 --> 00:27:04,239
Speaker 1: you you're like right there, like your time is up,

610
00:27:04,240 --> 00:27:07,119
Speaker 1: and you have enough discipline to avoid that. Yeah, because

611
00:27:07,160 --> 00:27:09,720
Speaker 1: I know that. At some point I said, Okay, it

612
00:27:09,760 --> 00:27:12,159
Speaker 1: seems like if I'm on social media more than fifteen

613
00:27:12,160 --> 00:27:14,199
Speaker 1: minutes catching up on all my store, you know, all

614
00:27:14,480 --> 00:27:17,160
Speaker 1: my feeds or whatever, that that's just stupid. That's just ridiculous. Yeah,

615
00:27:17,320 --> 00:27:19,679
Speaker 1: And you know what it has done. It has caused

616
00:27:19,720 --> 00:27:22,320
Speaker 1: me to we're talking about curation, but it's caused me

617
00:27:22,359 --> 00:27:25,080
Speaker 1: to cut the different folks I keep up with because

618
00:27:25,200 --> 00:27:27,280
Speaker 1: so you can see the stuff like you actually care about.

619
00:27:27,359 --> 00:27:29,200
Speaker 1: It keeps it. It keeps them leaning stop following me

620
00:27:29,240 --> 00:27:31,920
Speaker 1: the other day. That's messed up. I don't really post anything.

621
00:27:31,920 --> 00:27:34,720
Speaker 1: You post NonStop. Yeah, the less you post, the more

622
00:27:34,760 --> 00:27:36,760
Speaker 1: likely I am. Actually I post once a year, So

623
00:27:37,200 --> 00:27:41,560
Speaker 1: there you go. Okay. So essentially the battle for our dollars,

624
00:27:41,600 --> 00:27:42,960
Speaker 1: that's kind of what we're talking about here with social

625
00:27:43,000 --> 00:27:44,480
Speaker 1: media and them trying to pitch stuff to us. It

626
00:27:44,560 --> 00:27:48,560
Speaker 1: only reinforces the need for financial literacy in our country.

627
00:27:48,720 --> 00:27:51,400
Speaker 1: And the good news is that more states are requiring

628
00:27:51,440 --> 00:27:54,520
Speaker 1: a financial literacy class in high school, and what that

629
00:27:54,600 --> 00:27:57,040
Speaker 1: means is the number of students who will be required

630
00:27:57,200 --> 00:28:00,399
Speaker 1: to learn about personal finance before graduation is going to

631
00:28:00,440 --> 00:28:03,720
Speaker 1: skyrocket over the next few years. New research shows just

632
00:28:03,760 --> 00:28:06,920
Speaker 1: how effective these classes can be improving credit scores, lowering

633
00:28:07,160 --> 00:28:11,320
Speaker 1: loan delinquency rates, avoiding predatory financial products like payday loans,

634
00:28:11,440 --> 00:28:14,280
Speaker 1: stuff like that, and one class in high school. It's

635
00:28:14,280 --> 00:28:17,680
Speaker 1: not likely going to create a bunch of personal finance Einstein's,

636
00:28:17,920 --> 00:28:20,480
Speaker 1: but it's at least an important step in the right direction.

637
00:28:20,840 --> 00:28:23,960
Speaker 1: On one hand, I wish that these classes weren't necessary,

638
00:28:23,960 --> 00:28:26,119
Speaker 1: because truly, when it comes to personal finance, it can

639
00:28:26,119 --> 00:28:29,720
Speaker 1: be summed up in like a like one sentence, spend

640
00:28:29,800 --> 00:28:32,359
Speaker 1: less money than you make and invest the rest that

641
00:28:32,359 --> 00:28:33,760
Speaker 1: would be your class, and then you let the kids

642
00:28:33,800 --> 00:28:36,440
Speaker 1: like play on their life. Right, y'all. Just but it's

643
00:28:36,440 --> 00:28:38,880
Speaker 1: not like nineteen forty five anymore, right, Like there are

644
00:28:38,960 --> 00:28:41,760
Speaker 1: more like we live in a more complex technical world,

645
00:28:41,920 --> 00:28:43,920
Speaker 1: and like we were just talking about with social media,

646
00:28:43,960 --> 00:28:47,200
Speaker 1: there are so many different ways where it feels like

647
00:28:47,240 --> 00:28:49,960
Speaker 1: we're getting almost like tricked into spending our money or

648
00:28:50,840 --> 00:28:53,280
Speaker 1: lad in a direction to not invest in the most

649
00:28:53,280 --> 00:28:56,640
Speaker 1: optimal way. I'm thinking of Robinhood a few years ago. Now,

650
00:28:56,880 --> 00:28:59,800
Speaker 1: yeah they offer iras, but they didn't used to, or.

651
00:28:59,800 --> 00:29:02,200
Speaker 2: Even just going to some financial advisors who will mass

652
00:29:02,200 --> 00:29:04,960
Speaker 2: will be overcharge you. So yeah, there's like, yeah, there's

653
00:29:04,960 --> 00:29:07,240
Speaker 2: a reason we've done seven hundred and fifty plus episodes

654
00:29:07,240 --> 00:29:09,160
Speaker 2: because there's a lot to talk about on this new

655
00:29:09,200 --> 00:29:11,000
Speaker 2: ones on the Money, it turns out okay, So I'm

656
00:29:11,000 --> 00:29:12,600
Speaker 2: gonna give a little hot take here, Matt. I think

657
00:29:12,600 --> 00:29:14,880
Speaker 2: you're gonna probably disagree with me if you had to

658
00:29:15,000 --> 00:29:18,120
Speaker 2: ditch any one high school class in order to incorporate

659
00:29:18,160 --> 00:29:21,840
Speaker 2: personal finance classes. What would it be? My answer is Latin.

660
00:29:21,880 --> 00:29:24,000
Speaker 2: It's a dead language. Let's get rid of it all together,

661
00:29:24,200 --> 00:29:25,560
Speaker 2: let's bury it, let's be done with it.

662
00:29:25,640 --> 00:29:27,800
Speaker 1: Of course, I'm gonna disagree with you with Latin being

663
00:29:28,320 --> 00:29:30,960
Speaker 1: the mother of all languages, Joel, as someone who took

664
00:29:31,240 --> 00:29:33,480
Speaker 1: Latin not only in high school but also in college.

665
00:29:33,480 --> 00:29:35,120
Speaker 1: You're gonna asks French, then what are you gonna do?

666
00:29:35,400 --> 00:29:39,320
Speaker 1: I would acts the most, honestly, probably the classes that

667
00:29:39,320 --> 00:29:41,640
Speaker 1: the kids are most excited about, like more the computer

668
00:29:42,400 --> 00:29:44,880
Speaker 1: computer science classes. The reason being is because whatever they're

669
00:29:44,920 --> 00:29:47,520
Speaker 1: learning is probably going to be completely out of date

670
00:29:47,560 --> 00:29:49,640
Speaker 1: by the time they even graduate. Now with how quickly

671
00:29:50,120 --> 00:29:54,000
Speaker 1: technology is advancing, and when it comes to man, I'm

672
00:29:54,000 --> 00:29:56,400
Speaker 1: gonna get so much hate from from all the programmers

673
00:29:56,400 --> 00:29:58,440
Speaker 1: out there, but just look at what AI is doing

674
00:29:58,640 --> 00:30:01,360
Speaker 1: when it comes to when it comes to coding. I

675
00:30:01,360 --> 00:30:04,560
Speaker 1: think there's a foundation of computer science. Perhaps that's important,

676
00:30:04,640 --> 00:30:07,640
Speaker 1: but when it comes to maybe things that seem a

677
00:30:07,720 --> 00:30:11,400
Speaker 1: little more current within the computer science space.

678
00:30:11,160 --> 00:30:13,480
Speaker 2: Probably not as necessary in elementary school or I guess

679
00:30:13,520 --> 00:30:14,360
Speaker 2: we're talk about high.

680
00:30:14,200 --> 00:30:16,640
Speaker 1: School, middle and high Yeah, I feel like perhaps those

681
00:30:16,760 --> 00:30:17,600
Speaker 1: might might get cut.

682
00:30:17,720 --> 00:30:19,280
Speaker 2: I don't know well, and when you think about it,

683
00:30:19,280 --> 00:30:21,040
Speaker 2: personal finance something we use. I'm not taking a hard

684
00:30:21,040 --> 00:30:22,280
Speaker 2: sand on that, all right, folks.

685
00:30:23,000 --> 00:30:23,920
Speaker 1: Something we'll use every day.

686
00:30:23,920 --> 00:30:26,520
Speaker 2: Send your hate mail to Matt, something you use every day,

687
00:30:26,560 --> 00:30:29,280
Speaker 2: and some of these other things you definitely don't, that's

688
00:30:29,320 --> 00:30:31,280
Speaker 2: for sure. But I'm glad to see progress in this regard.

689
00:30:31,320 --> 00:30:33,960
Speaker 2: I'm glad to see more, more folks, more students being

690
00:30:34,000 --> 00:30:36,720
Speaker 2: required to do this. I mean, this needs to be nationwide,

691
00:30:36,720 --> 00:30:39,440
Speaker 2: all fifty states, hopefully sooner rather than later. But Matt,

692
00:30:39,480 --> 00:30:40,880
Speaker 2: before we get out of here, we got to give

693
00:30:40,880 --> 00:30:43,360
Speaker 2: a newsletter referral shout out to Stacy. If you give

694
00:30:43,440 --> 00:30:45,640
Speaker 2: oh hey, yeah three, if you refer to the Hada

695
00:30:45,640 --> 00:30:47,880
Speaker 2: Money newsletter to three friends, you get a shout out here.

696
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Speaker 2: And then if you keep going, there are other benefits

697
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Speaker 2: that you can incur, like free how to money swag

698
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Speaker 2: are delightful socks. Just Stacy, keep going, you'll get there.

699
00:30:56,040 --> 00:30:58,000
Speaker 2: But yeah, thank you for referring your friends to the

700
00:30:58,000 --> 00:30:58,720
Speaker 2: head of money newsletter.

701
00:30:58,760 --> 00:31:00,680
Speaker 1: We appreciate it. Might even like lower the threshold because

702
00:31:00,680 --> 00:31:03,680
Speaker 1: I feel like, yeah, yeah, the socks. I don't want

703
00:31:03,720 --> 00:31:05,880
Speaker 1: it to feel so unattainable and so out of reach.

704
00:31:05,920 --> 00:31:07,520
Speaker 1: That folks are just like, I'm never going to be

705
00:31:07,560 --> 00:31:10,320
Speaker 1: able to get some socks. So well, we'll make sure

706
00:31:10,320 --> 00:31:12,640
Speaker 1: to let folks know, let y'all know if we do change,

707
00:31:12,640 --> 00:31:13,240
Speaker 1: lower that bar.

708
00:31:13,320 --> 00:31:14,600
Speaker 2: Lower that first. And if you're not signed up for

709
00:31:14,640 --> 00:31:16,160
Speaker 2: the how of Money newsletter, what are you doing? It's

710
00:31:16,160 --> 00:31:19,080
Speaker 2: amazing honomoney dot com slash newsletter, it's wonderful. Every Tuesday

711
00:31:19,120 --> 00:31:21,560
Speaker 2: morning you can expect to find it there in your inbox.

712
00:31:21,640 --> 00:31:23,280
Speaker 1: But dude, that's going to be it for this episode.

713
00:31:23,320 --> 00:31:27,760
Speaker 1: We hope everyone has a fantastic weekend and until next time,

714
00:31:27,960 --> 00:31:30,240
Speaker 1: best Friends Out, Best Friends Out,