1 00:00:00,080 --> 00:00:03,040 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt, 2 00:00:03,080 --> 00:00:07,840 Speaker 1: and today we're discussing perpetual quitting, secondhand surge, and debt 3 00:00:07,960 --> 00:00:29,560 Speaker 1: management plans. That's right, buddy. This is our Friday flight 4 00:00:29,560 --> 00:00:31,520 Speaker 1: where we're gonna talk about some of the different stories 5 00:00:31,720 --> 00:00:34,720 Speaker 1: we came across this week, specifically how they pertain to 6 00:00:34,760 --> 00:00:37,680 Speaker 1: our finances. And I'll say, real quick, my voice sounds 7 00:00:37,680 --> 00:00:39,239 Speaker 1: a little bit rough. You are under the weather. I 8 00:00:39,280 --> 00:00:41,960 Speaker 1: got that. I think I've just got a nasty summer cold. 9 00:00:42,159 --> 00:00:44,640 Speaker 1: But I will persevere and get through this episode. The 10 00:00:44,680 --> 00:00:47,640 Speaker 1: podcast cannot go on without you. I cannot go solo. 11 00:00:47,880 --> 00:00:50,120 Speaker 1: The show must go on. But I see a note 12 00:00:50,120 --> 00:00:53,000 Speaker 1: here about a sixteen year old driver. What's out all? Okay, 13 00:00:53,040 --> 00:00:56,200 Speaker 1: So my neighbor, right, my neighbor, they she just turned 14 00:00:56,240 --> 00:00:59,240 Speaker 1: sixteen and she got she got a new car, not 15 00:00:59,240 --> 00:01:02,640 Speaker 1: not a brand new car, but a very nice out 16 00:01:02,640 --> 00:01:06,000 Speaker 1: East station Wagon, And oh yeah, dude, that's what I want. 17 00:01:07,280 --> 00:01:09,560 Speaker 1: I love this Audi stations running the family and her 18 00:01:09,600 --> 00:01:11,640 Speaker 1: parents both of her parents drive out East too, and 19 00:01:11,680 --> 00:01:13,720 Speaker 1: so it's I just thought it was kind of funny 20 00:01:13,800 --> 00:01:17,240 Speaker 1: that as I like saw her basically getting into her 21 00:01:17,240 --> 00:01:19,360 Speaker 1: brain new car I was super excited for you know, 22 00:01:19,400 --> 00:01:21,200 Speaker 1: obviously that's a really cool thing for a sixteen really 23 00:01:21,200 --> 00:01:23,400 Speaker 1: get a car. I didn't. I bought my own first car, 24 00:01:23,920 --> 00:01:27,640 Speaker 1: and I remember it costs so it was to feel 25 00:01:27,680 --> 00:01:30,759 Speaker 1: in this Audi Wagon, even used. I'm guessing it costs 26 00:01:30,760 --> 00:01:32,520 Speaker 1: a little more than a few thousands. Her car is 27 00:01:32,600 --> 00:01:34,399 Speaker 1: nicer than the one car that we own as a family, 28 00:01:34,640 --> 00:01:36,480 Speaker 1: and I just think it's funny and exactly. I just 29 00:01:36,520 --> 00:01:39,080 Speaker 1: want to say, though, I think some people might see 30 00:01:39,080 --> 00:01:40,920 Speaker 1: that and they might get bummed out. For me, I 31 00:01:40,959 --> 00:01:43,400 Speaker 1: wear that as a badge of honor. I'm like, that's great, because, yeah, 32 00:01:43,520 --> 00:01:46,600 Speaker 1: it just reinforces the fact that we are spending very 33 00:01:46,640 --> 00:01:49,600 Speaker 1: little money on vehicles. We embraced the ugly we exactly, 34 00:01:50,360 --> 00:01:52,800 Speaker 1: and if you embrace it, then it puts a whole 35 00:01:52,800 --> 00:01:54,640 Speaker 1: different spin on things. I think sometimes it's easy to 36 00:01:54,640 --> 00:01:57,000 Speaker 1: see people getting things and you're like, oh, but I 37 00:01:57,080 --> 00:01:59,280 Speaker 1: kind of want that, And if you're like, if you 38 00:01:59,320 --> 00:02:03,080 Speaker 1: know what you want, it makes seeing other people get things, 39 00:02:03,120 --> 00:02:06,640 Speaker 1: it makes it less less jealousy inducing. And so um, yeah, 40 00:02:06,680 --> 00:02:09,239 Speaker 1: congrats to my sixteen year old neighbor in her new car. 41 00:02:09,680 --> 00:02:11,880 Speaker 1: And uh, she listened to the show I don't think so, 42 00:02:13,200 --> 00:02:15,239 Speaker 1: not that I know of. But yeah, it's one of 43 00:02:15,240 --> 00:02:17,480 Speaker 1: those things I don't need to listen to that show 44 00:02:18,120 --> 00:02:20,560 Speaker 1: mom and dad taking care of me. Maybe someday, though, 45 00:02:20,560 --> 00:02:22,400 Speaker 1: when those mom and Dad dollars run out, you'll need 46 00:02:22,440 --> 00:02:25,919 Speaker 1: to test. But all right, well we'll move on and 47 00:02:26,040 --> 00:02:27,919 Speaker 1: I get to the sampling of stories we found this week. 48 00:02:27,960 --> 00:02:30,640 Speaker 1: It is our Friday flight. Let's hope Matt can make 49 00:02:30,639 --> 00:02:32,639 Speaker 1: it the whole way through without heeling over. Oh I 50 00:02:32,680 --> 00:02:34,799 Speaker 1: got this, okay, all right. The first thing, the first 51 00:02:34,800 --> 00:02:36,720 Speaker 1: story we want to talk about, it has to do 52 00:02:36,760 --> 00:02:41,320 Speaker 1: with employment, and it's about people quitting their jobs obviously, 53 00:02:41,880 --> 00:02:44,359 Speaker 1: with the Great Resignation is what it's been titled over 54 00:02:44,360 --> 00:02:46,799 Speaker 1: the past eighteen months, people leaving their jobs, finding new ones, 55 00:02:46,800 --> 00:02:50,079 Speaker 1: getting paid more, which in a lot of respects is great. 56 00:02:50,520 --> 00:02:53,280 Speaker 1: But here's the thing. Folks who moved on to a 57 00:02:53,280 --> 00:02:58,399 Speaker 1: new job last year are actively looking for something else again. Again. Yes, 58 00:02:58,720 --> 00:03:00,720 Speaker 1: they're like, got that new job, not want the new 59 00:03:00,760 --> 00:03:02,320 Speaker 1: new job. Like, hey, I think you're making this a 60 00:03:02,400 --> 00:03:05,560 Speaker 1: habit exactly. And I think this shouldn't come as a 61 00:03:05,560 --> 00:03:08,959 Speaker 1: surprise necessarily, because there are still two jobs out there 62 00:03:09,000 --> 00:03:11,799 Speaker 1: for every job seeker. So it's a very strong job 63 00:03:11,840 --> 00:03:14,440 Speaker 1: market for those who are looking for employment, and depending 64 00:03:14,440 --> 00:03:16,440 Speaker 1: on what position you're in, there might be headhunters reaching 65 00:03:16,440 --> 00:03:18,480 Speaker 1: out to you saying, hey, we got another job and 66 00:03:18,520 --> 00:03:20,920 Speaker 1: you get paid more. And I get how it can 67 00:03:20,960 --> 00:03:23,520 Speaker 1: be hard to resist. But for those folks who made 68 00:03:23,560 --> 00:03:26,040 Speaker 1: the switch last year, either the grass wasn't as green 69 00:03:26,040 --> 00:03:27,760 Speaker 1: as it looked on the other side, maybe they don't 70 00:03:27,760 --> 00:03:30,160 Speaker 1: like their job as much as they thought, or they're 71 00:03:30,160 --> 00:03:32,079 Speaker 1: looking to boost their income in a big way again. 72 00:03:32,440 --> 00:03:34,680 Speaker 1: And I get that impulse, but I think it's important 73 00:03:34,840 --> 00:03:38,480 Speaker 1: Matt to mention that increasing your income it's obviously it's 74 00:03:38,520 --> 00:03:40,840 Speaker 1: easier than normal given the current state of the job market, 75 00:03:40,960 --> 00:03:43,720 Speaker 1: but if you do this too much, it'll start to 76 00:03:43,720 --> 00:03:47,560 Speaker 1: have a detrimental impact on your future. Like once, maybe 77 00:03:47,560 --> 00:03:49,880 Speaker 1: twice is fine, but I think if you have too 78 00:03:49,880 --> 00:03:52,880 Speaker 1: many jobs with less than a year on your resume, 79 00:03:53,360 --> 00:03:56,080 Speaker 1: future potential employers are gonna start to see that. They're 80 00:03:56,080 --> 00:03:58,839 Speaker 1: gonna start to look elsewhere. They're gonna be like, oh, wait, 81 00:03:58,880 --> 00:04:01,240 Speaker 1: is this person going to bounce again? Um if they 82 00:04:01,280 --> 00:04:03,200 Speaker 1: get this new job, so they're not worth the higher 83 00:04:03,240 --> 00:04:06,160 Speaker 1: That's right. It is expensive to bring on and onboard 84 00:04:06,200 --> 00:04:08,600 Speaker 1: new employees. Yeah, and so that's something you need to 85 00:04:08,600 --> 00:04:10,680 Speaker 1: think about. You know, job hopping in order to grow 86 00:04:10,720 --> 00:04:12,880 Speaker 1: your income can be really smart. But if you try 87 00:04:12,920 --> 00:04:14,600 Speaker 1: to do it three or four times, if you try 88 00:04:14,640 --> 00:04:17,120 Speaker 1: to kind of make a big move on the reg 89 00:04:17,480 --> 00:04:19,440 Speaker 1: then this is something that ultimately, I think will come 90 00:04:19,440 --> 00:04:21,160 Speaker 1: back and bite you. That's right. I wonder how many 91 00:04:21,160 --> 00:04:23,080 Speaker 1: folks made that that switched last year and are now 92 00:04:23,080 --> 00:04:25,320 Speaker 1: considering it because they saw how easy it was for 93 00:04:25,360 --> 00:04:28,080 Speaker 1: them to do, right with with so many interviews happening online, 94 00:04:28,080 --> 00:04:30,320 Speaker 1: with the ability to work from home, it's not like 95 00:04:30,360 --> 00:04:32,320 Speaker 1: you have to change your commute. I think for a 96 00:04:32,320 --> 00:04:34,400 Speaker 1: lot of folks the ability to switch jobs there are 97 00:04:34,480 --> 00:04:36,640 Speaker 1: fewer barriers. But I agree, I think you could overdo 98 00:04:36,720 --> 00:04:38,960 Speaker 1: it. It It makes me think about I never really played 99 00:04:38,960 --> 00:04:41,240 Speaker 1: pinball machines, but you know, if you like, would it 100 00:04:41,320 --> 00:04:44,320 Speaker 1: like tilts, if you like shaking machine or something like that. Like, 101 00:04:44,360 --> 00:04:45,640 Speaker 1: I think you can do it a couple of times, 102 00:04:45,640 --> 00:04:47,520 Speaker 1: but if you overdo it, then it like locks down 103 00:04:47,560 --> 00:04:49,839 Speaker 1: the paddles and it's like, hey, you're trying to cheat. Yeah, 104 00:04:49,880 --> 00:04:53,080 Speaker 1: that is how I view job hopping. Let's talk about 105 00:04:53,320 --> 00:04:56,080 Speaker 1: thrift stores, because it looks like more Americans, they actually 106 00:04:56,080 --> 00:04:59,120 Speaker 1: feel comfortable buying things second hand these days, as they 107 00:04:59,160 --> 00:05:02,640 Speaker 1: should should. Yeah, a survey from thread up reveals that 108 00:05:02,800 --> 00:05:07,240 Speaker 1: nine percent of Americans are willing to go all Maclamore 109 00:05:07,279 --> 00:05:10,200 Speaker 1: with it and score their threads from the local thrifts. 110 00:05:10,240 --> 00:05:12,680 Speaker 1: Real popular song for a while. Do people still listen 111 00:05:12,680 --> 00:05:13,920 Speaker 1: to that? I don't think so, but it made its 112 00:05:13,960 --> 00:05:18,520 Speaker 1: mark within our cultural sphere. But but that is up 113 00:05:18,560 --> 00:05:22,000 Speaker 1: from seventy back in twenty nineteen. And I think part 114 00:05:22,000 --> 00:05:23,960 Speaker 1: of the appeal for folks is that they're able to 115 00:05:23,960 --> 00:05:26,320 Speaker 1: buy nicer things when they opt for a second hand 116 00:05:26,360 --> 00:05:28,960 Speaker 1: items over a new one. And this is a trend 117 00:05:29,040 --> 00:05:31,680 Speaker 1: that I like to see. Uh. I mean, how often 118 00:05:31,680 --> 00:05:34,720 Speaker 1: do we talk about kurb alerts here on the show. Um? Frequently, 119 00:05:35,080 --> 00:05:37,760 Speaker 1: we do it a lot. But we want all how 120 00:05:37,760 --> 00:05:40,039 Speaker 1: the money listeners to get into that mindset of being 121 00:05:40,160 --> 00:05:43,440 Speaker 1: thrilled about finding something usable on the side of the road. 122 00:05:43,839 --> 00:05:45,479 Speaker 1: If you think about it, it's sort of like a game. 123 00:05:45,520 --> 00:05:47,800 Speaker 1: It's actually way more fun to buy you stuff, I 124 00:05:47,839 --> 00:05:49,640 Speaker 1: think as well as sort of like you said, it's 125 00:05:49,680 --> 00:05:52,760 Speaker 1: that mindset shift. And if you can view your sixteen 126 00:05:52,800 --> 00:05:56,000 Speaker 1: year old neighbor getting a sweet audio wagon, Uh, not 127 00:05:56,040 --> 00:05:59,320 Speaker 1: necessarily as something that induces jealousy, and instead you see 128 00:05:59,480 --> 00:06:04,280 Speaker 1: your powder blue Homer Honda Odyssey Van as a badge 129 00:06:04,279 --> 00:06:07,760 Speaker 1: of honor. Then it completely shifts things. Uh. And obviously 130 00:06:07,760 --> 00:06:10,160 Speaker 1: that the top reason that folks were willing to buy 131 00:06:10,279 --> 00:06:12,880 Speaker 1: secondhand or buying used or going to thrift shops is 132 00:06:12,920 --> 00:06:15,640 Speaker 1: to save money. With the higher prices that we're all experiencing, 133 00:06:15,680 --> 00:06:18,800 Speaker 1: folks are are switching up their purchasing habits. And I'm 134 00:06:18,800 --> 00:06:20,680 Speaker 1: really interested to see if this is a habit that 135 00:06:20,680 --> 00:06:23,760 Speaker 1: sticks around, because you think back to the Great Depression 136 00:06:24,000 --> 00:06:26,200 Speaker 1: era and like you had an entire generation of folks 137 00:06:26,200 --> 00:06:29,880 Speaker 1: who were impacted very dramatically by this thing and throughout 138 00:06:29,920 --> 00:06:33,680 Speaker 1: their entire lives, where some would say like quite miserly, right, 139 00:06:33,720 --> 00:06:36,680 Speaker 1: like like an unwillingness to spend money, saving and scrimping 140 00:06:36,839 --> 00:06:39,760 Speaker 1: at every turn possible. I am definitely curious to see 141 00:06:39,760 --> 00:06:42,839 Speaker 1: if this is something that continues, or if, when inflation 142 00:06:42,839 --> 00:06:46,000 Speaker 1: resumes it's normal levels, if we basically go back to 143 00:06:46,080 --> 00:06:48,279 Speaker 1: all of our previous spending habits. It's a good question. 144 00:06:48,360 --> 00:06:51,640 Speaker 1: The Great Depression certainly seared something in the minds and 145 00:06:51,880 --> 00:06:55,520 Speaker 1: memories of a lot of individuals, and understandably so. It's 146 00:06:55,560 --> 00:06:57,920 Speaker 1: so much so that their grandkids even talked about their 147 00:06:57,920 --> 00:07:01,160 Speaker 1: grandparents handled money and how they reused it block for 148 00:07:01,200 --> 00:07:03,320 Speaker 1: the rest of their lives. It changed the way they 149 00:07:03,360 --> 00:07:07,000 Speaker 1: lived for in perpetuity. And I hope for some of 150 00:07:07,080 --> 00:07:10,080 Speaker 1: us at least, that that, um what's going on with 151 00:07:10,280 --> 00:07:13,400 Speaker 1: higher prices, with inflation, that when things do combat down, 152 00:07:13,640 --> 00:07:16,200 Speaker 1: that we don't necessarily forget all of the lessons that 153 00:07:16,200 --> 00:07:18,160 Speaker 1: we've learned during this time. R. Yeah, I hope that 154 00:07:18,200 --> 00:07:20,520 Speaker 1: is something that we can take away from these higher prices. Right, 155 00:07:20,880 --> 00:07:23,600 Speaker 1: let's talk about vacations and disconnecting for just a second. 156 00:07:23,640 --> 00:07:26,240 Speaker 1: Match Like, and when I talk about vacations, I'm actually 157 00:07:26,280 --> 00:07:29,400 Speaker 1: thinking about a vacation from social media. And uh, it 158 00:07:29,440 --> 00:07:31,679 Speaker 1: made me. I thought about this because you're gonna quit Twitter. 159 00:07:32,640 --> 00:07:34,640 Speaker 1: I'm not really on Twitter. I I will go on 160 00:07:34,640 --> 00:07:36,560 Speaker 1: there a couple times a week and just see what 161 00:07:36,680 --> 00:07:37,880 Speaker 1: some of my friends are up to, But for the 162 00:07:37,920 --> 00:07:40,720 Speaker 1: most part, I'm not really on social media very much. 163 00:07:40,840 --> 00:07:43,960 Speaker 1: But um, I guess I read this article by Cal 164 00:07:44,040 --> 00:07:47,920 Speaker 1: Newport and he has wrote the book Digital Minimalism. It's 165 00:07:47,920 --> 00:07:50,240 Speaker 1: a book we would recommend to everyone out there. Cal 166 00:07:50,320 --> 00:07:52,320 Speaker 1: has written a lot of great books actually, but he 167 00:07:52,320 --> 00:07:55,200 Speaker 1: actually just wrote a blog post about how taking a 168 00:07:55,240 --> 00:07:58,200 Speaker 1: break from TikTok or Instagram or any of the social 169 00:07:58,320 --> 00:08:02,000 Speaker 1: media apps, well, we'll actually make you happier and less anxious. 170 00:08:02,240 --> 00:08:04,240 Speaker 1: And he cited a study that was done by the 171 00:08:04,320 --> 00:08:07,080 Speaker 1: University of Bath about how taking just a one week 172 00:08:07,120 --> 00:08:11,240 Speaker 1: break its significantly improves people's well being. And here's how 173 00:08:11,320 --> 00:08:13,760 Speaker 1: cal summed it up. Matt he said that social media 174 00:08:13,880 --> 00:08:17,000 Speaker 1: usage hurts your mental health. That's his opinion, and I'm 175 00:08:17,040 --> 00:08:19,560 Speaker 1: inclined to agree with him. I think for most of 176 00:08:19,600 --> 00:08:22,120 Speaker 1: our listeners, taking a week long break this summer and 177 00:08:22,320 --> 00:08:25,600 Speaker 1: seeing how it makes you feel and seeing maybe whether 178 00:08:25,840 --> 00:08:28,880 Speaker 1: it reduces your anxiety and helps you feel more connected 179 00:08:29,080 --> 00:08:31,320 Speaker 1: to the people around you is a good idea. I 180 00:08:31,320 --> 00:08:33,640 Speaker 1: think this summer is a perfect time to take seven 181 00:08:33,720 --> 00:08:37,000 Speaker 1: days and just kind of experiment and see whether staying 182 00:08:37,040 --> 00:08:40,160 Speaker 1: off social media for longer periods of time actually makes 183 00:08:40,200 --> 00:08:42,760 Speaker 1: you feel more human. Like I said, I'm not a 184 00:08:42,800 --> 00:08:45,240 Speaker 1: heavy user, but it's it does make me want to 185 00:08:45,240 --> 00:08:47,080 Speaker 1: just like give it up all together for a week 186 00:08:47,240 --> 00:08:49,319 Speaker 1: and just kind of see the results. So maybe I'll 187 00:08:49,320 --> 00:08:51,320 Speaker 1: report back and let people know how it goes. Yeah, 188 00:08:51,320 --> 00:08:52,640 Speaker 1: I would agree as well. I think a lot of 189 00:08:52,679 --> 00:08:54,360 Speaker 1: us are sort of shaking our heads that like, yes, 190 00:08:54,400 --> 00:08:56,160 Speaker 1: we know that this is a bad thing, but we 191 00:08:56,240 --> 00:08:58,720 Speaker 1: kind of shrug it off and we may not necessarily 192 00:08:58,760 --> 00:09:01,760 Speaker 1: be willing to actually implement it into our lives. Theoretically, 193 00:09:01,800 --> 00:09:03,319 Speaker 1: we know it's a good thing, but we're not willing 194 00:09:03,360 --> 00:09:05,679 Speaker 1: to actually put it into practice. Like I got to 195 00:09:05,679 --> 00:09:08,240 Speaker 1: think part of it, too, Matt, is that some of 196 00:09:08,320 --> 00:09:11,880 Speaker 1: us out there are addicted. Yea, truly addicted. When you 197 00:09:11,920 --> 00:09:15,440 Speaker 1: look at what addiction is, many people are addicted to 198 00:09:15,440 --> 00:09:17,640 Speaker 1: their smartphones. They are addicted to some of these social 199 00:09:17,679 --> 00:09:19,760 Speaker 1: media apps, and so it's gonna be even harder to 200 00:09:19,840 --> 00:09:22,679 Speaker 1: kind of break not just uh, what's a habit, but 201 00:09:22,720 --> 00:09:25,199 Speaker 1: potentially even an addiction. Totally, yeah, I completely agree. I 202 00:09:25,240 --> 00:09:27,679 Speaker 1: wouldn't say I'm addicted, but I always get caught up 203 00:09:27,679 --> 00:09:29,520 Speaker 1: on my Instagram, like at the end of the day 204 00:09:29,679 --> 00:09:31,520 Speaker 1: or you know, at different points in the day, I 205 00:09:31,520 --> 00:09:34,000 Speaker 1: will continue to refresh until it says end of stories 206 00:09:34,120 --> 00:09:37,200 Speaker 1: or whatever says I guess I'm thinking about posts. But 207 00:09:37,240 --> 00:09:39,240 Speaker 1: the same is true when it comes to stories, and 208 00:09:39,360 --> 00:09:41,440 Speaker 1: there is even like there's a shorter time line when 209 00:09:41,440 --> 00:09:42,880 Speaker 1: it comes to stories. As well, because they're up there 210 00:09:42,880 --> 00:09:44,000 Speaker 1: at the top the oald of the last for twenty 211 00:09:44,040 --> 00:09:47,600 Speaker 1: four hours. I do feel a need to watch all 212 00:09:47,640 --> 00:09:49,679 Speaker 1: of them before they expire because I might miss out. 213 00:09:49,720 --> 00:09:51,920 Speaker 1: I have literally, by the way, never posted an Instagram 214 00:09:51,920 --> 00:09:54,559 Speaker 1: story fun fact about me. But I think what you 215 00:09:54,600 --> 00:09:56,320 Speaker 1: said is true, Like, we're not actually going to know 216 00:09:56,400 --> 00:09:59,439 Speaker 1: the effects of stepping away from that unless we actually try. 217 00:09:59,480 --> 00:10:03,440 Speaker 1: And so, with Instagram being my social media platform of choice, 218 00:10:03,520 --> 00:10:06,680 Speaker 1: at some point this summer, I will also commit to 219 00:10:06,760 --> 00:10:09,079 Speaker 1: doing a seven day I don't know if you want 220 00:10:09,080 --> 00:10:10,800 Speaker 1: to call it a cleanse, but just like a fast 221 00:10:10,920 --> 00:10:13,560 Speaker 1: removing that from my life, because for me, it's just 222 00:10:13,679 --> 00:10:15,840 Speaker 1: the amount of time that it can suck out of 223 00:10:15,840 --> 00:10:17,679 Speaker 1: my life, right Like you're sitting there, hit and refresh 224 00:10:17,720 --> 00:10:19,880 Speaker 1: and then and now they started implementing some of the 225 00:10:19,920 --> 00:10:24,160 Speaker 1: Explore features within the actual timeline, So before you know it, 226 00:10:24,200 --> 00:10:27,000 Speaker 1: I'm watching some guys totally eat it on a skateboard, 227 00:10:27,440 --> 00:10:32,320 Speaker 1: or I'm watching some homebuilders. The algorithm it's like fail 228 00:10:32,400 --> 00:10:36,360 Speaker 1: videos or like architectural like engineering like stuff that totally 229 00:10:36,360 --> 00:10:39,120 Speaker 1: fascinates me and and sucts me in. Yeah, well that's 230 00:10:39,120 --> 00:10:41,560 Speaker 1: the thing. The algorithm knows us better than we know ourselves, 231 00:10:41,600 --> 00:10:43,480 Speaker 1: and it sucks us in and so it's probably a 232 00:10:43,520 --> 00:10:45,080 Speaker 1: good idea to create some sort of hard and fast 233 00:10:45,160 --> 00:10:47,079 Speaker 1: rule and to create some sort of a detox from 234 00:10:47,120 --> 00:10:49,200 Speaker 1: time to time so that you can maybe take a 235 00:10:49,200 --> 00:10:52,240 Speaker 1: better measurement of how it's impacting you and whether or 236 00:10:52,280 --> 00:10:54,440 Speaker 1: not you can survive without it totally. Yeah. So you know, 237 00:10:54,480 --> 00:10:56,600 Speaker 1: this reminds me too that most Americans don't take all 238 00:10:56,600 --> 00:10:59,520 Speaker 1: of their vacation time, and so we're recommending for you 239 00:10:59,600 --> 00:11:01,480 Speaker 1: to take some time off social media, but take some 240 00:11:01,600 --> 00:11:04,000 Speaker 1: actual time off from work as well, because you don't 241 00:11:04,080 --> 00:11:06,000 Speaker 1: have to go somewhere expensive, you don't have to go 242 00:11:06,040 --> 00:11:08,720 Speaker 1: somewhere fancy, you don't even necessarily even need to leave town. 243 00:11:09,160 --> 00:11:10,760 Speaker 1: But just make sure that you're taking some steps to 244 00:11:10,800 --> 00:11:13,679 Speaker 1: remove yourself from your work where you're stepping away from 245 00:11:13,720 --> 00:11:15,800 Speaker 1: the screen at least for a little bit. We do 246 00:11:15,840 --> 00:11:18,880 Speaker 1: believe that breaks will make us all better. Yeah, I 247 00:11:18,920 --> 00:11:20,840 Speaker 1: agree to take a break from social media, but also 248 00:11:20,960 --> 00:11:23,440 Speaker 1: take a break from work. And all right, let's talk 249 00:11:23,480 --> 00:11:27,440 Speaker 1: about lawns for a second. Lawn care, because you know, 250 00:11:27,440 --> 00:11:30,080 Speaker 1: we don't have to remind anyone that there's a severe 251 00:11:30,120 --> 00:11:33,559 Speaker 1: drought occurring in large parts of the country. California is 252 00:11:33,600 --> 00:11:35,840 Speaker 1: in the middle of its third year of severe drought, 253 00:11:36,120 --> 00:11:38,280 Speaker 1: which has led to a bunch of water restrictions. The 254 00:11:38,320 --> 00:11:41,000 Speaker 1: same is true in Texas, you know, where some reservoirs 255 00:11:41,000 --> 00:11:44,240 Speaker 1: are apparently down to less than of capacity, which has 256 00:11:44,320 --> 00:11:46,839 Speaker 1: led you know, a lot of utilities to implement mandatory 257 00:11:46,880 --> 00:11:49,560 Speaker 1: water use restrictions. Now, we went through this in Georgia. 258 00:11:49,640 --> 00:11:51,760 Speaker 1: I don't know, it felt like a decade ago, and 259 00:11:51,880 --> 00:11:54,000 Speaker 1: you know, I forgot about that. That's right. We we well, 260 00:11:54,120 --> 00:11:56,920 Speaker 1: the governor was urging us to take shorter showers, and 261 00:11:56,920 --> 00:11:59,000 Speaker 1: and so I still it's still one of the best 262 00:11:59,040 --> 00:12:01,720 Speaker 1: lines ever said to a shorter shower. Um. But while 263 00:12:01,760 --> 00:12:03,760 Speaker 1: this is a bummer, if you like having a lush, 264 00:12:03,840 --> 00:12:06,720 Speaker 1: green garden or lawn, you know, we're attempting to put 265 00:12:06,760 --> 00:12:09,520 Speaker 1: a positive spin on this because at least you're saving money. 266 00:12:09,520 --> 00:12:10,920 Speaker 1: You're not. It's a little water your lawn. It's all 267 00:12:10,960 --> 00:12:13,920 Speaker 1: about the mindset, that's right, And so the cost of utilities, 268 00:12:13,960 --> 00:12:16,080 Speaker 1: it's a large expense when it comes to owning a home. 269 00:12:16,440 --> 00:12:18,480 Speaker 1: So we're Matt and I were really open to any 270 00:12:18,520 --> 00:12:21,400 Speaker 1: tactic that gives you the option to cut your water Bill. 271 00:12:21,760 --> 00:12:23,400 Speaker 1: But here's the thing. If you don't want your lawn 272 00:12:23,480 --> 00:12:26,880 Speaker 1: to go brown, as everything is just dying off, maybe 273 00:12:26,960 --> 00:12:30,360 Speaker 1: consider going with fake grass or synthetic turf. You know, 274 00:12:30,400 --> 00:12:33,120 Speaker 1: more cities and counties are allowing it across the country, 275 00:12:33,440 --> 00:12:35,240 Speaker 1: and we're seeing a lot more of it around our 276 00:12:35,240 --> 00:12:37,559 Speaker 1: neighborhood as well. Matt, my friends Steve. Our friend Steve, 277 00:12:37,600 --> 00:12:39,760 Speaker 1: he just redid his house and he put turf fin 278 00:12:39,800 --> 00:12:42,040 Speaker 1: instead of grass and it looks great. And the great 279 00:12:42,040 --> 00:12:43,800 Speaker 1: thing on top of that is no more watering, no 280 00:12:43,840 --> 00:12:46,319 Speaker 1: more mowing, no more other expensive upkeep. You don't have 281 00:12:46,320 --> 00:12:48,160 Speaker 1: think it out there and weed the lawn like that 282 00:12:48,320 --> 00:12:49,840 Speaker 1: might have used to do. So I don't know, I 283 00:12:49,840 --> 00:12:52,640 Speaker 1: think maybe maybe Steve's onto something. Maybe he's a starting 284 00:12:52,679 --> 00:12:55,680 Speaker 1: a new trend. Yeah, so there aren't all positives, of course, 285 00:12:55,720 --> 00:12:57,840 Speaker 1: you know, when it comes to artificial turf, because the 286 00:12:57,840 --> 00:13:00,839 Speaker 1: biggest downside is that the fakes off. It's a lot 287 00:13:00,880 --> 00:13:05,120 Speaker 1: more expensive than sod. Specifically, it's around ten times more pricey. 288 00:13:05,720 --> 00:13:08,120 Speaker 1: But of course that one time expense is going to 289 00:13:08,160 --> 00:13:11,560 Speaker 1: save you money over the years on maintenance. Uh, those 290 00:13:11,600 --> 00:13:14,240 Speaker 1: costs seriously add up. And we actually came across a 291 00:13:14,280 --> 00:13:17,120 Speaker 1: really in depth breakdown of the two types of lawns 292 00:13:17,160 --> 00:13:19,120 Speaker 1: that will link to and it turns out that you 293 00:13:19,200 --> 00:13:21,920 Speaker 1: will be able to recoup your upfront costs after about 294 00:13:22,000 --> 00:13:25,079 Speaker 1: six years. And so this is something to consider if 295 00:13:25,240 --> 00:13:27,960 Speaker 1: you like having that picture perfect lawn. Uh. It kind 296 00:13:27,960 --> 00:13:29,840 Speaker 1: of makes me think of like solar panels. There's an 297 00:13:29,920 --> 00:13:32,520 Speaker 1: upfront cost, but the benefit that you're going to be 298 00:13:32,559 --> 00:13:34,040 Speaker 1: able to read from that it pays off in the 299 00:13:34,080 --> 00:13:36,840 Speaker 1: long run, often times what like ten to fifteen years, 300 00:13:37,120 --> 00:13:39,320 Speaker 1: and so it's even less when it comes to artificial turf. 301 00:13:39,640 --> 00:13:41,439 Speaker 1: But if you don't care as much about how your 302 00:13:41,520 --> 00:13:44,520 Speaker 1: yard looks, then you can consider letting your yard go 303 00:13:44,720 --> 00:13:48,960 Speaker 1: to seed. Quite literally, more Americans are considering prairie style 304 00:13:49,080 --> 00:13:52,760 Speaker 1: yards and are completely rethinking their laws altogether. Not only 305 00:13:52,880 --> 00:13:55,679 Speaker 1: you did that right, we did, yeah, and we did 306 00:13:55,720 --> 00:13:59,280 Speaker 1: it somewhat to save money, but it also allows for 307 00:13:59,440 --> 00:14:04,240 Speaker 1: native plant and weeds to actually flower and bloom, which 308 00:14:04,280 --> 00:14:06,560 Speaker 1: is helpful for pollinators who are looking for food after 309 00:14:07,040 --> 00:14:09,760 Speaker 1: that you know, long and cold winter, and so from 310 00:14:09,760 --> 00:14:12,480 Speaker 1: a pollinator standpoint, evidently this is the most important thing 311 00:14:12,520 --> 00:14:14,720 Speaker 1: to consider in the month of May. There's there are 312 00:14:14,760 --> 00:14:17,400 Speaker 1: some communities around the country who started this thing called 313 00:14:17,480 --> 00:14:20,680 Speaker 1: no mo May, and we are actually just out of May. 314 00:14:20,760 --> 00:14:22,400 Speaker 1: But the fact is that is something you can still 315 00:14:22,440 --> 00:14:26,480 Speaker 1: continue to implement in allowing native natural grasses and other 316 00:14:26,560 --> 00:14:29,200 Speaker 1: things to actually blossom. But of course don't forget that 317 00:14:29,240 --> 00:14:31,520 Speaker 1: letting your your lawn, letting your yard go a little 318 00:14:31,600 --> 00:14:33,640 Speaker 1: more natural, is going to save you money when it 319 00:14:33,680 --> 00:14:36,760 Speaker 1: comes to the water that it requires as well. And 320 00:14:36,800 --> 00:14:39,040 Speaker 1: plus I think it actually looks pretty good. Uh you 321 00:14:39,080 --> 00:14:40,440 Speaker 1: know there there are there are ways to make it 322 00:14:40,480 --> 00:14:43,479 Speaker 1: look cool as opposed to just a bunch of dandelions 323 00:14:43,520 --> 00:14:46,920 Speaker 1: like sprowning up. Well, I think to water costs have 324 00:14:47,240 --> 00:14:49,720 Speaker 1: gone up around the country, especially in some of the 325 00:14:49,760 --> 00:14:53,200 Speaker 1: biggest cities because of droughts and water shortages, and so 326 00:14:53,560 --> 00:14:55,080 Speaker 1: take it like your water bill. And if part of 327 00:14:55,120 --> 00:14:57,800 Speaker 1: the reason your water bill is kind of expensive is 328 00:14:57,840 --> 00:15:00,960 Speaker 1: because you're watering your lawn, cut it out and maybe 329 00:15:00,960 --> 00:15:03,040 Speaker 1: you won't only save money, but you'll your lan will 330 00:15:03,080 --> 00:15:05,920 Speaker 1: be more habitable for the helpful creatures out there that 331 00:15:06,000 --> 00:15:08,400 Speaker 1: need it exactly. Well, We've got several other stories that 332 00:15:08,400 --> 00:15:12,520 Speaker 1: we're gonna get to, including when higher education, when those 333 00:15:12,600 --> 00:15:15,200 Speaker 1: advanced degrees don't actually pay off. We'll get to that 334 00:15:15,200 --> 00:15:26,760 Speaker 1: story plus a few others right after this break. We 335 00:15:26,840 --> 00:15:28,800 Speaker 1: are back from the break, and let's get to that 336 00:15:28,880 --> 00:15:31,920 Speaker 1: ludicrous headline of the week, which is, Matt, what you 337 00:15:32,040 --> 00:15:35,360 Speaker 1: just tease to talking about higher education and whether or 338 00:15:35,360 --> 00:15:39,160 Speaker 1: not it is beneficial? And so this this article comes 339 00:15:39,200 --> 00:15:42,560 Speaker 1: from Business Insider, and it's titled Millennials and gen's ears 340 00:15:42,800 --> 00:15:46,360 Speaker 1: are getting swindled by the biggest scam in higher education? Wow, 341 00:15:46,400 --> 00:15:49,480 Speaker 1: what are we gonna uncover here? This is a good story. Yeah, well, 342 00:15:49,480 --> 00:15:52,440 Speaker 1: this one is specifically about master's degrees. That's what they're 343 00:15:52,440 --> 00:15:55,920 Speaker 1: writing about, which begs the question, our master's degrees a 344 00:15:55,960 --> 00:15:58,640 Speaker 1: complete waste of time and money? Well, so much of 345 00:15:58,680 --> 00:16:01,640 Speaker 1: that depends on what kind of master's degree you're getting, 346 00:16:01,640 --> 00:16:04,520 Speaker 1: where you're going, and what's your marketability is after the fact. 347 00:16:04,560 --> 00:16:07,400 Speaker 1: And so stats do show that folks who get a 348 00:16:07,400 --> 00:16:10,000 Speaker 1: master's degree are burdened by a whole lot more debt 349 00:16:10,120 --> 00:16:12,720 Speaker 1: than the average person who just comes out of school 350 00:16:12,760 --> 00:16:15,120 Speaker 1: with a bachelor's degree. It's something like thirty two dollars 351 00:16:15,160 --> 00:16:18,520 Speaker 1: on average versus sixty dollars on average, more than double 352 00:16:18,600 --> 00:16:21,120 Speaker 1: that's right for someone who has both a bachelor and 353 00:16:21,120 --> 00:16:23,600 Speaker 1: a master's degree. But here's the thing. Folks with a 354 00:16:23,600 --> 00:16:26,960 Speaker 1: master's degree, they also earned about eighteen percent more than 355 00:16:27,120 --> 00:16:30,360 Speaker 1: someone who only has a bachelor's degree, and that isn't 356 00:16:30,360 --> 00:16:34,240 Speaker 1: necessarily true across the board though some of master's degree 357 00:16:34,240 --> 00:16:37,040 Speaker 1: holders they don't see any meaningful increase in salary with 358 00:16:37,080 --> 00:16:39,520 Speaker 1: that new advanced degree in hand. That would be a 359 00:16:39,520 --> 00:16:42,200 Speaker 1: tough pill to swallow, Matt if you're debt just doubled 360 00:16:42,440 --> 00:16:44,720 Speaker 1: and it's like your paychecks stays the same. You put 361 00:16:44,720 --> 00:16:47,080 Speaker 1: in all that effort years of schooling in order to 362 00:16:47,120 --> 00:16:50,240 Speaker 1: hopefully advance in your career um and be able to generate, 363 00:16:50,320 --> 00:16:52,880 Speaker 1: you know, a greater income, and if that doesn't actually 364 00:16:52,920 --> 00:16:54,760 Speaker 1: come to fruition, that's got to be a bummer, that's right. Yeah, 365 00:16:54,760 --> 00:16:58,760 Speaker 1: Master's degrees they can help you to meaningfully advantage, you know, 366 00:16:58,840 --> 00:17:01,280 Speaker 1: within your career or allow you to pivot towards something 367 00:17:01,320 --> 00:17:04,040 Speaker 1: completely completely different that you might enjoy more. But it's 368 00:17:04,040 --> 00:17:07,120 Speaker 1: crucial to pursue higher education with your eyes wide open, 369 00:17:07,720 --> 00:17:12,080 Speaker 1: because that advanced degree doesn't guarantee a higher salary, although 370 00:17:12,119 --> 00:17:15,240 Speaker 1: it almost always is going to mean more debt. Advanced 371 00:17:15,280 --> 00:17:19,439 Speaker 1: degrees in the arts, humanities, and theology evidently almost always 372 00:17:19,440 --> 00:17:22,400 Speaker 1: have a negative return on your investment, and so keep 373 00:17:22,440 --> 00:17:24,359 Speaker 1: that in mind. Don't. Like it's one thing if you're 374 00:17:24,400 --> 00:17:27,919 Speaker 1: talking about lawyers and doctors and like even dennists like 375 00:17:27,960 --> 00:17:30,960 Speaker 1: you're going to see a massive increase within your earning 376 00:17:31,000 --> 00:17:33,560 Speaker 1: potential over the over the course of a number of years. 377 00:17:33,920 --> 00:17:35,800 Speaker 1: But when it comes to some of these other degrees, 378 00:17:35,880 --> 00:17:38,359 Speaker 1: you might want to think twice. And that's this doesn't 379 00:17:38,359 --> 00:17:41,760 Speaker 1: necessarily mean that it's not worth it. People pursue education 380 00:17:41,840 --> 00:17:44,320 Speaker 1: for more than just the ability to make more money. 381 00:17:44,359 --> 00:17:46,840 Speaker 1: Although here at how the money we are often going 382 00:17:46,880 --> 00:17:50,159 Speaker 1: to focus on the side of it. But if you 383 00:17:50,240 --> 00:17:53,119 Speaker 1: assume that more education is always going to equal more money, 384 00:17:53,320 --> 00:17:55,320 Speaker 1: that's just not true. That it is not an assumption 385 00:17:55,359 --> 00:17:57,440 Speaker 1: that you want to make. Uh. And so as always 386 00:17:57,560 --> 00:17:59,639 Speaker 1: we want to recommend for folks to tread lightly with 387 00:17:59,680 --> 00:18:02,800 Speaker 1: student loan debt, especially if it's for a degree that 388 00:18:02,840 --> 00:18:06,000 Speaker 1: puts you in a bigger financial hole without any real 389 00:18:06,040 --> 00:18:09,440 Speaker 1: promise of those future returns. Yeah. Man, that's something that 390 00:18:09,440 --> 00:18:11,520 Speaker 1: that Emily and I had to discuss because she is 391 00:18:11,560 --> 00:18:14,480 Speaker 1: getting a master's degree right now, becoming in order to 392 00:18:14,480 --> 00:18:17,600 Speaker 1: become a licensed therapist. Unfortunately, there's going to be like 393 00:18:17,840 --> 00:18:21,600 Speaker 1: a pretty decent payoff between between what she was making before, 394 00:18:21,680 --> 00:18:23,119 Speaker 1: although you know there were a few years where she 395 00:18:23,160 --> 00:18:24,760 Speaker 1: wasn't working at all and what she's going to be 396 00:18:24,920 --> 00:18:27,280 Speaker 1: able to make as a therapist. But it also provides 397 00:18:27,320 --> 00:18:30,080 Speaker 1: that important level of fulfillment to to get to actually 398 00:18:30,080 --> 00:18:32,679 Speaker 1: do what you want to do with your life. In 399 00:18:32,680 --> 00:18:35,000 Speaker 1: her case, it's a very practical degree, right, It's not 400 00:18:35,040 --> 00:18:37,320 Speaker 1: like she's getting a higher degree in like, like we said, 401 00:18:37,320 --> 00:18:39,080 Speaker 1: the arts, and so now she's going to be able 402 00:18:39,119 --> 00:18:41,159 Speaker 1: to appreciate the arts at a higher level. It's like, 403 00:18:41,200 --> 00:18:43,399 Speaker 1: now this is literally a job in a certification that 404 00:18:43,480 --> 00:18:45,720 Speaker 1: is going to allow her to practice. She's going to 405 00:18:45,720 --> 00:18:48,360 Speaker 1: become an official counselor after she gets that degree. Yeah, 406 00:18:48,440 --> 00:18:50,400 Speaker 1: for sure. So there's definitely both things that you want 407 00:18:50,400 --> 00:18:52,560 Speaker 1: to consider. But it's it's it's not I think a 408 00:18:52,600 --> 00:18:54,080 Speaker 1: lot of people just think it's a slam dunk that 409 00:18:54,200 --> 00:18:59,400 Speaker 1: getting another degree is going to inevitably, um, increase their income. 410 00:18:59,440 --> 00:19:02,000 Speaker 1: But there's such a thing as being over educated, right, 411 00:19:02,080 --> 00:19:05,440 Speaker 1: and sometimes the more degrees you have, it's not necessarily 412 00:19:05,440 --> 00:19:08,520 Speaker 1: going to correlate to making more money. Um. But yeah, 413 00:19:08,600 --> 00:19:11,240 Speaker 1: let's talk about a scam, Matt. The first second that 414 00:19:11,280 --> 00:19:13,240 Speaker 1: could have actually been our ludicrous headline of the week 415 00:19:13,280 --> 00:19:15,680 Speaker 1: if we had so chosen, which actually came from our 416 00:19:15,680 --> 00:19:18,480 Speaker 1: local TV station here in Atlanta. And it turns out 417 00:19:18,520 --> 00:19:21,639 Speaker 1: that a local guy here in town he bought about 418 00:19:21,640 --> 00:19:24,360 Speaker 1: a few homes and he's paying sellers at least partially 419 00:19:24,760 --> 00:19:27,840 Speaker 1: in a worthless cryptocurrency. And apparently this guy he calls 420 00:19:27,880 --> 00:19:30,480 Speaker 1: himself the godfather of real estate, which I gotta say 421 00:19:30,560 --> 00:19:32,320 Speaker 1: is a red flag right there, like, I don't probably 422 00:19:32,320 --> 00:19:35,040 Speaker 1: want to do business with anybody who has that moniker. 423 00:19:35,320 --> 00:19:37,760 Speaker 1: Let's step away from the table if that guy is 424 00:19:37,760 --> 00:19:40,840 Speaker 1: sitting exactly and so yeah, what he does is he 425 00:19:40,880 --> 00:19:44,640 Speaker 1: convinces unsuspecting homeowners to sell to him and to take 426 00:19:44,720 --> 00:19:50,480 Speaker 1: up tot of the proceeds in what are known as traptions, uh, 427 00:19:50,560 --> 00:19:52,360 Speaker 1: which if you want to know what those are, Apparently 428 00:19:52,400 --> 00:19:55,679 Speaker 1: there's some basically a crap coin. They're a cryptocurrency that 429 00:19:55,800 --> 00:19:58,840 Speaker 1: isn't traded on any of the major exchanges. And so 430 00:19:58,960 --> 00:20:01,719 Speaker 1: once the seller saw minds on the dotted line, they 431 00:20:01,720 --> 00:20:04,879 Speaker 1: are now the proud owner of some U S dollars, 432 00:20:04,920 --> 00:20:08,720 Speaker 1: but also an abundance of digital coins that have little 433 00:20:08,760 --> 00:20:11,920 Speaker 1: to no value that they can do actually nothing with 434 00:20:12,320 --> 00:20:14,680 Speaker 1: and so is it then move on their part, Yes 435 00:20:14,760 --> 00:20:18,480 Speaker 1: it is, But is it also nefarious and potentially illegal 436 00:20:18,840 --> 00:20:22,720 Speaker 1: on the part of this godfather real estate, this huckster. Yes, 437 00:20:22,800 --> 00:20:25,560 Speaker 1: it also is. That it's despicable and a man, I 438 00:20:25,560 --> 00:20:27,280 Speaker 1: feel like it's stories like this that just kind of 439 00:20:27,320 --> 00:20:29,360 Speaker 1: sour me on the crypto space in general. It's all 440 00:20:29,400 --> 00:20:31,439 Speaker 1: the scams out there, It's all the people that are 441 00:20:31,560 --> 00:20:36,120 Speaker 1: using a a newish technology in order to hoodwink people 442 00:20:36,520 --> 00:20:39,160 Speaker 1: into giving up something of value in exchange for something 443 00:20:39,160 --> 00:20:42,040 Speaker 1: that's worthless. Well, I mean, it's not that blockchain technology 444 00:20:42,280 --> 00:20:45,320 Speaker 1: doesn't have some serious potential, because we feel that it does. 445 00:20:45,760 --> 00:20:48,760 Speaker 1: But you know, as we've documented here that the crypto 446 00:20:48,800 --> 00:20:52,080 Speaker 1: space is rife with hucksters and different scam artists out there, 447 00:20:52,320 --> 00:20:56,320 Speaker 1: and so our advice would be to never take crypto 448 00:20:56,400 --> 00:21:00,760 Speaker 1: assets that have questionable or dubious worth for an actual 449 00:21:00,880 --> 00:21:04,040 Speaker 1: tangible asset. U S dollars are going to be a 450 00:21:04,160 --> 00:21:07,960 Speaker 1: vastly better medium of exchange when you're selling anything, especially 451 00:21:08,040 --> 00:21:10,240 Speaker 1: something that can command as much money as an actual 452 00:21:10,280 --> 00:21:13,359 Speaker 1: home as actual real estate. We think it's a really 453 00:21:13,359 --> 00:21:15,680 Speaker 1: good thing that crypto prices stuff fallen because we're seeing 454 00:21:15,800 --> 00:21:20,000 Speaker 1: less watercolor conversation around the topic, which likely means dwindling 455 00:21:20,040 --> 00:21:23,280 Speaker 1: interest because we're not crypto experts by by any stretch 456 00:21:23,320 --> 00:21:26,360 Speaker 1: of the imagination. But we've always said and will continue 457 00:21:26,400 --> 00:21:30,560 Speaker 1: to say that buying cryptocurrencies is a speculative move. You 458 00:21:30,600 --> 00:21:34,200 Speaker 1: should enter into those conversations and transactions knowing that you 459 00:21:34,240 --> 00:21:36,440 Speaker 1: could potentially lose it all. So don't put money at 460 00:21:36,520 --> 00:21:39,080 Speaker 1: risk that you aren't willing to completely lose. Yeah, the 461 00:21:39,080 --> 00:21:42,480 Speaker 1: crypto space shows promise, or at least the technology does, 462 00:21:42,520 --> 00:21:44,240 Speaker 1: and and maybe we should actually have an expert on 463 00:21:44,280 --> 00:21:46,680 Speaker 1: here in the near future, Matt, to talk about crypto 464 00:21:46,840 --> 00:21:48,960 Speaker 1: in a little more depth. So we we've actually got 465 00:21:49,000 --> 00:21:51,480 Speaker 1: someone that we're hopefully going to bring on in a 466 00:21:51,520 --> 00:21:53,800 Speaker 1: couple of weeks. So yes, stay tuned for that. But 467 00:21:53,880 --> 00:21:55,879 Speaker 1: let's talk about shrink flation for a second. Mat. That 468 00:21:56,359 --> 00:21:59,280 Speaker 1: is not a scam, but it certainly feels like a 469 00:21:59,320 --> 00:22:02,560 Speaker 1: gut punch when you're your your your favorite food items 470 00:22:02,600 --> 00:22:06,080 Speaker 1: are are they shrink by let's say ten, that's happening, 471 00:22:06,280 --> 00:22:08,280 Speaker 1: and it's happening in the grocery store. Clearly we've talked 472 00:22:08,440 --> 00:22:11,400 Speaker 1: about that, but it's also happening at your favorite neighborhood 473 00:22:11,400 --> 00:22:13,520 Speaker 1: restaurant and also a lot of the bigger chains out there, 474 00:22:13,720 --> 00:22:16,439 Speaker 1: so they're they're just like signs of shrink flation and 475 00:22:16,480 --> 00:22:20,399 Speaker 1: happening basically everywhere. And Bloomberg they reported that Subway is 476 00:22:20,440 --> 00:22:23,760 Speaker 1: putting less meat in its wraps and sich that certain 477 00:22:24,800 --> 00:22:27,560 Speaker 1: Mexican food chains are changing the kind of steak that 478 00:22:27,560 --> 00:22:29,760 Speaker 1: they're using from the nicer cuts to the not so 479 00:22:29,840 --> 00:22:32,320 Speaker 1: nice cuts. Okay, quick interruption. If you had the steak 480 00:22:32,400 --> 00:22:36,160 Speaker 1: from Aldi ever or recently which kind, well, specifically Ribby, 481 00:22:36,200 --> 00:22:38,000 Speaker 1: because Kate was there the other day, I don't think so, 482 00:22:38,520 --> 00:22:40,879 Speaker 1: some well marbled Ribby and we we bought one just 483 00:22:40,920 --> 00:22:43,000 Speaker 1: to try it out. Holy crap, dude, it was so good. 484 00:22:43,200 --> 00:22:45,800 Speaker 1: I was blown away at the quality. So I highly 485 00:22:45,800 --> 00:22:48,040 Speaker 1: recommend laying some eyes on the meat over there at 486 00:22:48,119 --> 00:22:50,720 Speaker 1: least and looking at whether or not the cuts look good. 487 00:22:51,240 --> 00:22:54,439 Speaker 1: And of rant, very small quick rant over. No, I 488 00:22:54,440 --> 00:22:55,960 Speaker 1: mean I like a good steak. I don't eat it 489 00:22:56,040 --> 00:22:57,639 Speaker 1: very often, but if all the is selling it and 490 00:22:57,680 --> 00:23:02,760 Speaker 1: it's really impressed reuter. Okay, Well, other signs of trinflation 491 00:23:02,800 --> 00:23:05,960 Speaker 1: that are happening to mentioned Subway, but Dominoes apparently their 492 00:23:06,280 --> 00:23:08,879 Speaker 1: ten piece wings not got cut to eight and and 493 00:23:08,880 --> 00:23:11,480 Speaker 1: the price stayed the same. So I don't know. A 494 00:23:11,480 --> 00:23:14,000 Speaker 1: part of me thinks that's smaller portion sizes are probably 495 00:23:14,040 --> 00:23:16,520 Speaker 1: a good thing for Americans in general, you know, literally 496 00:23:16,560 --> 00:23:18,400 Speaker 1: speaking of that is true. Yeah, whether we're eating out 497 00:23:18,480 --> 00:23:20,639 Speaker 1: or we're shopping at the grocery store. But it's a 498 00:23:20,640 --> 00:23:22,640 Speaker 1: good idea. We would say to check and see if 499 00:23:22,640 --> 00:23:24,760 Speaker 1: your favorite items are getting smaller, because you want to 500 00:23:24,760 --> 00:23:26,840 Speaker 1: know whether or not the thing that you're paying for 501 00:23:26,920 --> 00:23:29,359 Speaker 1: the cost the same is actually is actually smaller. And 502 00:23:29,400 --> 00:23:32,000 Speaker 1: so one of the best ways Matt for people to 503 00:23:32,040 --> 00:23:34,120 Speaker 1: be able to decipher that is to check the price 504 00:23:34,200 --> 00:23:37,240 Speaker 1: per ounce And that's something I look at frequently, especially 505 00:23:37,280 --> 00:23:40,159 Speaker 1: when most of the time I'm not brand loyal and 506 00:23:40,200 --> 00:23:42,480 Speaker 1: so I'm just literally looking for the best deal, and 507 00:23:42,480 --> 00:23:44,400 Speaker 1: price perounce really is the measurement that's going to help 508 00:23:44,400 --> 00:23:46,800 Speaker 1: you out the most in that regard. Yes, right, Yeah, 509 00:23:46,800 --> 00:23:49,280 Speaker 1: most folks surveyed said that they would actually rather have 510 00:23:49,320 --> 00:23:52,160 Speaker 1: their old portion sizes with a higher price tag attached. 511 00:23:52,600 --> 00:23:55,520 Speaker 1: That's what they say. But there's a reason that that 512 00:23:55,680 --> 00:23:58,359 Speaker 1: is not the tactic the businesses are taking, because what 513 00:23:58,440 --> 00:24:00,880 Speaker 1: they're hoping is that you won't notice. But we want 514 00:24:00,960 --> 00:24:03,200 Speaker 1: smart how the money listeners out there to pay attention 515 00:24:03,400 --> 00:24:06,280 Speaker 1: because string inflation is a reality of the times that 516 00:24:06,320 --> 00:24:07,920 Speaker 1: we're living in. We're not going to be able to 517 00:24:07,960 --> 00:24:10,440 Speaker 1: avoid it altogether, but we want you to at least 518 00:24:10,560 --> 00:24:13,639 Speaker 1: be able to recognize it use unit pricing to your advantage. 519 00:24:13,800 --> 00:24:15,639 Speaker 1: And what I think this means for us as we 520 00:24:15,680 --> 00:24:18,080 Speaker 1: go out to restaurants is that that we have to 521 00:24:18,080 --> 00:24:20,800 Speaker 1: make some mental calculations because there are very few of 522 00:24:20,880 --> 00:24:23,560 Speaker 1: us who are nerdy enough to carry around like a 523 00:24:23,600 --> 00:24:27,000 Speaker 1: notepad or to have an ongoing note on our iPhone 524 00:24:27,119 --> 00:24:30,359 Speaker 1: where we're jotting down the price per ounce of a 525 00:24:30,400 --> 00:24:32,080 Speaker 1: particular beer or the price of a burger at our 526 00:24:32,080 --> 00:24:35,679 Speaker 1: favorite restaurant. But just this being on your mind, just 527 00:24:35,760 --> 00:24:37,760 Speaker 1: it being on your radar is enough, I think, to 528 00:24:37,840 --> 00:24:41,480 Speaker 1: start paying attention to the prices at your local restaurants. 529 00:24:41,600 --> 00:24:44,919 Speaker 1: Bottom line, we want you to be a more conscientious 530 00:24:45,280 --> 00:24:48,520 Speaker 1: consumer as opposed to someone who just continues along the 531 00:24:48,560 --> 00:24:51,920 Speaker 1: same behaviors without giving as much thought to the cost. Yeah, 532 00:24:51,920 --> 00:24:53,760 Speaker 1: if I was, if I was going into a subway 533 00:24:53,840 --> 00:24:56,119 Speaker 1: right now. Remember the whole Wendy's commercials with the old 534 00:24:56,200 --> 00:24:58,040 Speaker 1: lady saying where's the beef. That's what I would be 535 00:24:58,080 --> 00:24:59,720 Speaker 1: saying if I was in there, and I might even 536 00:25:00,080 --> 00:25:02,200 Speaker 1: is the roast beef? Pull up that YouTube clip or something. 537 00:25:02,840 --> 00:25:06,840 Speaker 1: But it's a subway. It's it's been a long time. 538 00:25:06,920 --> 00:25:09,640 Speaker 1: I used to subway all the time, like in high 539 00:25:09,640 --> 00:25:12,119 Speaker 1: school and college. I cannot remember the last time I 540 00:25:12,119 --> 00:25:13,879 Speaker 1: stepped inside of subway. No, it's been a minute. The 541 00:25:13,880 --> 00:25:15,720 Speaker 1: whole Jared thing, I think kind of ruined it for me. Well, 542 00:25:16,160 --> 00:25:19,120 Speaker 1: let's not go there, let's not talk about that, but 543 00:25:19,200 --> 00:25:21,399 Speaker 1: let's let's let's do talk about debt here for just 544 00:25:21,440 --> 00:25:24,720 Speaker 1: a second. Map Because for how money listeners who who 545 00:25:24,880 --> 00:25:27,200 Speaker 1: are in a lot of debt, who maybe feel like 546 00:25:27,200 --> 00:25:29,920 Speaker 1: they're in over their head in debt, you know, we've 547 00:25:29,960 --> 00:25:32,280 Speaker 1: talked about different ways that they can go about getting helped, 548 00:25:32,440 --> 00:25:35,040 Speaker 1: some ways that they can go about it themselves to 549 00:25:35,040 --> 00:25:37,240 Speaker 1: help fix their debt problem. It takes time, right, it 550 00:25:37,240 --> 00:25:40,919 Speaker 1: doesn't happen overnight. But for other folks, there are nonprofit 551 00:25:41,000 --> 00:25:44,160 Speaker 1: organizations out there who specialize in helping people for free. 552 00:25:44,480 --> 00:25:47,600 Speaker 1: And the thing is, companies like Money Management International can 553 00:25:47,640 --> 00:25:50,720 Speaker 1: create something that's known as a debt management plan, and 554 00:25:50,800 --> 00:25:52,600 Speaker 1: you know, other folks Matt A. Lot of folks who 555 00:25:52,640 --> 00:25:56,320 Speaker 1: advertise on radio and television, they might tell you to 556 00:25:56,320 --> 00:25:58,679 Speaker 1: stop paying your bills, to pay them directly, and that 557 00:25:58,720 --> 00:26:00,359 Speaker 1: they're going to be able to solve your debt problems 558 00:26:00,520 --> 00:26:03,440 Speaker 1: for you. That's a big red flag. That is kind 559 00:26:03,440 --> 00:26:06,040 Speaker 1: of like that crypto scam. It's gonna leave you, uh, 560 00:26:06,080 --> 00:26:10,160 Speaker 1: screwed over a barrel. But the top nonprofit debt repayment 561 00:26:10,200 --> 00:26:12,400 Speaker 1: companies they can help you by getting you into what's 562 00:26:12,400 --> 00:26:15,280 Speaker 1: known as a debt management plan. And so if you 563 00:26:15,320 --> 00:26:17,400 Speaker 1: want to know how much better it is than maybe 564 00:26:17,400 --> 00:26:19,440 Speaker 1: even just paying off your debt as agreed over time, 565 00:26:19,880 --> 00:26:22,919 Speaker 1: the Money Management International rand the numbers and they just 566 00:26:22,960 --> 00:26:26,000 Speaker 1: posted those recently, and and they took an average amount 567 00:26:26,040 --> 00:26:28,720 Speaker 1: of debt which was just about eighteen thousand dollars and 568 00:26:28,800 --> 00:26:33,199 Speaker 1: an average a PR of And do you know how 569 00:26:33,240 --> 00:26:34,720 Speaker 1: much time that would take you to pay off, Matt, 570 00:26:34,880 --> 00:26:37,399 Speaker 1: I haven't run the number in my mind. I do 571 00:26:37,440 --> 00:26:40,520 Speaker 1: not know one months to pay it off. And that 572 00:26:40,640 --> 00:26:43,280 Speaker 1: eighteen thousand dollars in debt would cost you a total 573 00:26:43,320 --> 00:26:47,359 Speaker 1: of fifty dollars over that period of time. Right, But 574 00:26:47,440 --> 00:26:50,320 Speaker 1: with a debt management plan, your a p R would 575 00:26:50,320 --> 00:26:53,480 Speaker 1: be closer to six percent because these nonprofit organizations are 576 00:26:53,520 --> 00:26:56,080 Speaker 1: actually able to help you lower the interest rate with 577 00:26:56,119 --> 00:26:58,600 Speaker 1: some of your creditors, and you'd pay that debt off 578 00:26:58,640 --> 00:27:01,280 Speaker 1: not in three one months, but forty eight months, and 579 00:27:01,320 --> 00:27:04,000 Speaker 1: you pay not a total of fifty nine dollars amazing, 580 00:27:04,040 --> 00:27:08,439 Speaker 1: but a total of two dollars months to forty months 581 00:27:08,440 --> 00:27:10,560 Speaker 1: is like the biggest thing. Like, just think about the 582 00:27:10,560 --> 00:27:13,480 Speaker 1: amount of life that you have back where you don't 583 00:27:13,480 --> 00:27:14,800 Speaker 1: have to worry about these payments. That's right. So I 584 00:27:14,800 --> 00:27:17,639 Speaker 1: thought that was cool seeing you know, Money Management International's 585 00:27:17,640 --> 00:27:20,840 Speaker 1: annual report on debt management plans and how they help people. 586 00:27:20,920 --> 00:27:22,879 Speaker 1: So I don't it just this is kind of like 587 00:27:22,920 --> 00:27:25,600 Speaker 1: a public service announcement if you are out there and 588 00:27:25,640 --> 00:27:28,840 Speaker 1: you feel overwhelmed by debt. What Money Management International has 589 00:27:29,080 --> 00:27:31,760 Speaker 1: local organizations in almost every state, but you can also 590 00:27:31,800 --> 00:27:34,040 Speaker 1: just talk to someone on the phone, and so we'll 591 00:27:34,119 --> 00:27:36,320 Speaker 1: put a link to their site. Um it's a dot 592 00:27:36,480 --> 00:27:38,480 Speaker 1: org right in our show notes. But with so many 593 00:27:38,480 --> 00:27:41,080 Speaker 1: people out there who are predatory in the debt space, 594 00:27:41,280 --> 00:27:42,680 Speaker 1: this is one of those places where you can turn 595 00:27:42,680 --> 00:27:44,840 Speaker 1: and get actual help and get out of debt like 596 00:27:45,080 --> 00:27:47,280 Speaker 1: much quicker than you thought was possible. Yeah, and Money 597 00:27:47,359 --> 00:27:50,160 Speaker 1: Management International is a specific credit counselor, but there are 598 00:27:50,440 --> 00:27:52,639 Speaker 1: a number of different companies, and we'll make sure to 599 00:27:52,720 --> 00:27:56,680 Speaker 1: link to NFCC, which is the National Foundation for Credit Counseling. 600 00:27:57,000 --> 00:27:59,160 Speaker 1: Will have a link to their site within our show 601 00:27:59,160 --> 00:28:01,119 Speaker 1: notes as well. But Joel is going to be it 602 00:28:01,200 --> 00:28:04,040 Speaker 1: for this episode. I made it through without completely losing 603 00:28:04,040 --> 00:28:07,040 Speaker 1: my voice. Congratulations the Lord, thank you, thank you very much. 604 00:28:07,640 --> 00:28:09,159 Speaker 1: But that's gonna be it. We hope everyone has a 605 00:28:09,160 --> 00:28:11,240 Speaker 1: great weekend and we will see you back here on Monday. 606 00:28:11,320 --> 00:28:14,560 Speaker 1: We've got a great interview lined up with some good 607 00:28:14,600 --> 00:28:16,920 Speaker 1: friends of ours who are local here to Atlanta. That's 608 00:28:16,920 --> 00:28:18,280 Speaker 1: all we're gonna share for now, but you'll have to 609 00:28:18,320 --> 00:28:20,479 Speaker 1: check back in here on Monday to find out who 610 00:28:20,520 --> 00:28:22,520 Speaker 1: it is. We hope to see you then, So Joel, 611 00:28:22,520 --> 00:28:24,920 Speaker 1: that's gonna be it for this episode until next time. 612 00:28:25,080 --> 00:28:26,960 Speaker 1: Best Friends Out, Best Friends Out.