1 00:00:00,080 --> 00:00:03,080 Speaker 1: Welcome to Had the Money. I'm Joel and I am Matt, 2 00:00:03,080 --> 00:00:06,480 Speaker 1: and today we're talking erupting equity, apprenticeships that pay and 3 00:00:06,640 --> 00:00:29,520 Speaker 1: scammy savings. That's right, man, this is a Friday Flight episode. 4 00:00:29,560 --> 00:00:31,080 Speaker 1: And by the way, those are only three of the 5 00:00:31,080 --> 00:00:33,680 Speaker 1: different stories that we're going to cover during this episode. 6 00:00:33,720 --> 00:00:35,599 Speaker 1: We've had so much more, got plenty more to get 7 00:00:35,600 --> 00:00:38,720 Speaker 1: to during this episode. But first we are actually going 8 00:00:38,800 --> 00:00:43,640 Speaker 1: to discuss this feature. This specifically, it's a widget that 9 00:00:43,720 --> 00:00:46,559 Speaker 1: was brought to our attention by listener Mike. So he 10 00:00:46,640 --> 00:00:48,760 Speaker 1: was listening to our credit cards episode. This is just 11 00:00:48,800 --> 00:00:51,040 Speaker 1: a couple of weeks ago, and we were talking about 12 00:00:51,040 --> 00:00:55,280 Speaker 1: the need for credit cards to somehow keep their customers 13 00:00:55,520 --> 00:00:58,000 Speaker 1: more informed as to what their what they're running totals are, 14 00:00:58,000 --> 00:00:59,840 Speaker 1: what their current balances are. Although what we said, that's 15 00:01:00,120 --> 00:01:02,480 Speaker 1: necessarily the goal of the credit card companies, but wouldn't 16 00:01:02,480 --> 00:01:04,240 Speaker 1: it be nice that's not what they want to do. 17 00:01:04,280 --> 00:01:07,199 Speaker 1: But guess what Apple? So Apple has a credit card 18 00:01:07,440 --> 00:01:11,240 Speaker 1: and they've got this sweet widget that allows you to 19 00:01:11,400 --> 00:01:15,000 Speaker 1: monitor your balance on your home screen on your stink 20 00:01:15,040 --> 00:01:17,400 Speaker 1: and iPhone. This is something that we were not even 21 00:01:17,520 --> 00:01:20,960 Speaker 1: aware of, but might pointed it out and because obviously 22 00:01:20,959 --> 00:01:22,800 Speaker 1: that's one of the downsides of credit cards, right, is 23 00:01:22,840 --> 00:01:25,400 Speaker 1: the fact that if you aren't checking your balance every day, 24 00:01:25,440 --> 00:01:29,279 Speaker 1: and most people aren't, you have the chance of overspending. Essentially, 25 00:01:29,319 --> 00:01:30,360 Speaker 1: like you're going to get to the end of the 26 00:01:30,400 --> 00:01:32,120 Speaker 1: billing cycle. It's not going to be until you get 27 00:01:32,120 --> 00:01:34,400 Speaker 1: your statement that you realize, oh crap, we actually went 28 00:01:34,480 --> 00:01:38,360 Speaker 1: over budget because we weren't keeping up with how we're spending. 29 00:01:38,400 --> 00:01:41,080 Speaker 1: So I think this has the potential to curb the 30 00:01:41,120 --> 00:01:44,960 Speaker 1: amounts of overspending that folks might be tempted into doing. Yeah, 31 00:01:44,959 --> 00:01:47,400 Speaker 1: I think it's really cool, and I'm glad that Apple 32 00:01:47,520 --> 00:01:49,960 Speaker 1: launch something like that for their card, because we want 33 00:01:49,960 --> 00:01:52,040 Speaker 1: people to kind of feel the pain of their spending, 34 00:01:52,200 --> 00:01:54,720 Speaker 1: and some people just naturally do. They're naturally frugal, and 35 00:01:54,760 --> 00:01:56,960 Speaker 1: so every I'm kind of one of those people. Anytime 36 00:01:57,000 --> 00:01:58,560 Speaker 1: I spend money or my wife's like, hey, we're gonna 37 00:01:58,560 --> 00:02:00,560 Speaker 1: get this thing, and I'm like, do we really mute it? Though, 38 00:02:00,560 --> 00:02:03,360 Speaker 1: I'm like kind of panicking just a little bit, And 39 00:02:03,440 --> 00:02:05,640 Speaker 1: so it comes to you're spending it, then you're like, oh, yeah, yeah, yeah, 40 00:02:05,640 --> 00:02:09,160 Speaker 1: afford it. I need it, though I'm shocking about and 41 00:02:09,200 --> 00:02:12,679 Speaker 1: so but it's one of those things where it's having 42 00:02:12,760 --> 00:02:14,760 Speaker 1: it up front and center in front of you and 43 00:02:14,919 --> 00:02:17,440 Speaker 1: coming face to face with how just how much money 44 00:02:17,480 --> 00:02:20,720 Speaker 1: you owe to the credit card company will likely reduce 45 00:02:20,919 --> 00:02:22,520 Speaker 1: how much you spend. So I think it's like one 46 00:02:22,560 --> 00:02:24,919 Speaker 1: of those behavioral things. It's going to absolutely help a 47 00:02:24,960 --> 00:02:27,320 Speaker 1: lot of people out well, and especially given how often 48 00:02:27,320 --> 00:02:29,200 Speaker 1: we check our phones, right, and so this is literally 49 00:02:29,200 --> 00:02:31,320 Speaker 1: a widget. It's an app that you install on your 50 00:02:31,320 --> 00:02:33,040 Speaker 1: phone and it's on your home screen and it shows 51 00:02:33,080 --> 00:02:35,640 Speaker 1: you how much you've spent. You can like do like 52 00:02:35,680 --> 00:02:37,960 Speaker 1: a week view or a month view, but it shows 53 00:02:38,000 --> 00:02:40,079 Speaker 1: you how much you spent even on individual days. Nice, 54 00:02:40,120 --> 00:02:42,440 Speaker 1: just in this nice little, cool little graphics. So I 55 00:02:42,440 --> 00:02:43,960 Speaker 1: think it's an awesome tool. And one of the cool 56 00:02:43,960 --> 00:02:46,240 Speaker 1: things actually about the Apple card they they give you 57 00:02:46,240 --> 00:02:48,720 Speaker 1: two percent cash back when you use it with Apple Pay. 58 00:02:48,800 --> 00:02:51,000 Speaker 1: So an Apple Pay is accepted almost everywhere now, so 59 00:02:51,080 --> 00:02:52,600 Speaker 1: double click that home button, Yeah, you still get the 60 00:02:52,639 --> 00:02:55,080 Speaker 1: two percent, which is a great sort of catch all card. 61 00:02:55,320 --> 00:02:56,960 Speaker 1: So I don't know if you saw this too, but 62 00:02:57,120 --> 00:02:59,760 Speaker 1: I think Capital One they are actually about too, or 63 00:02:59,760 --> 00:03:01,799 Speaker 1: maybe they already have released their own version of the 64 00:03:01,840 --> 00:03:05,959 Speaker 1: widget as well. Oh, really, so if more cards are 65 00:03:06,080 --> 00:03:07,880 Speaker 1: going to be jumping on this bandwagon, this is something 66 00:03:07,880 --> 00:03:10,560 Speaker 1: that we can totally get behind. And I'm glad to 67 00:03:10,560 --> 00:03:13,040 Speaker 1: see somebody like Apple, I guess, in this case setting 68 00:03:13,080 --> 00:03:15,840 Speaker 1: the example as to maybe how some of these banks 69 00:03:15,960 --> 00:03:19,480 Speaker 1: should be treating their customers, the non bank treating the 70 00:03:19,520 --> 00:03:22,400 Speaker 1: banks at apps. Well, it's honestly, I think it takes 71 00:03:22,440 --> 00:03:24,840 Speaker 1: a company like Apple sometimes to enter into its I 72 00:03:24,880 --> 00:03:26,440 Speaker 1: mean just think about Tesla, right, Like, you get a 73 00:03:26,440 --> 00:03:29,080 Speaker 1: company who is an a quote unquote outsider, and they 74 00:03:29,200 --> 00:03:31,360 Speaker 1: enter into a new industry, like a new space, and 75 00:03:31,360 --> 00:03:33,519 Speaker 1: all of a sudden, everybody else, all the old players, 76 00:03:33,600 --> 00:03:35,760 Speaker 1: they have to adapt. Yeah, I think we're going to 77 00:03:35,800 --> 00:03:39,040 Speaker 1: see that disruption. I think mentality. Yeah, that does. Yeah, 78 00:03:39,080 --> 00:03:40,800 Speaker 1: it's upsets the Apple cart. It changes the way other 79 00:03:40,800 --> 00:03:44,440 Speaker 1: people do business too, an Apple cart. Yeah, and nice, 80 00:03:44,680 --> 00:03:46,600 Speaker 1: So big thanks to listener Mike for letting us know 81 00:03:46,680 --> 00:03:49,480 Speaker 1: that that's cool and definitely good heads up for other 82 00:03:49,520 --> 00:03:51,880 Speaker 1: Apple card users out there. But Matt, let's get onto 83 00:03:51,880 --> 00:03:53,920 Speaker 1: the Friday flight. It's a quick sampling of stories we 84 00:03:53,960 --> 00:03:56,760 Speaker 1: found interesting this week in the realm of personal financeers 85 00:03:56,760 --> 00:04:00,000 Speaker 1: a lot to cover today and over the past decade, 86 00:04:00,040 --> 00:04:03,680 Speaker 1: Apparently the number of registered apprenticeships has risen by sixty 87 00:04:03,720 --> 00:04:05,640 Speaker 1: four percent. I saw that stat and I was like, 88 00:04:05,680 --> 00:04:07,200 Speaker 1: just did a little like this pump in the air. 89 00:04:07,240 --> 00:04:09,400 Speaker 1: I was like, Wooo, this is great. And that's according 90 00:04:09,400 --> 00:04:12,000 Speaker 1: to the latest data from the US Department of Labor, 91 00:04:12,240 --> 00:04:16,920 Speaker 1: And basically, apprenticeships are becoming a more utilized alternative to 92 00:04:17,480 --> 00:04:20,200 Speaker 1: just a traditional college education. And this is really just 93 00:04:20,279 --> 00:04:21,760 Speaker 1: a great thing, and it's something that you and I 94 00:04:21,800 --> 00:04:24,880 Speaker 1: have championed for for years. We've had remember our episode 95 00:04:24,880 --> 00:04:27,479 Speaker 1: with Ken Rusk about blue collar work, and there's a 96 00:04:27,560 --> 00:04:29,760 Speaker 1: dearth of people willing to consider this option. We've pushed 97 00:04:29,760 --> 00:04:34,359 Speaker 1: everybody so hard into the colleges for everyone path, but 98 00:04:34,440 --> 00:04:36,479 Speaker 1: that's just not true and it's coming back to bite 99 00:04:36,520 --> 00:04:39,360 Speaker 1: some people. But a lot of young people are responding differently, 100 00:04:39,400 --> 00:04:41,800 Speaker 1: and they're saying no, I think an apprenticeship is a 101 00:04:41,880 --> 00:04:44,640 Speaker 1: decent alternative, whether you're working in a trade or learning 102 00:04:44,720 --> 00:04:46,359 Speaker 1: from a professional in the space that you want to 103 00:04:46,360 --> 00:04:48,440 Speaker 1: be in. That can be a great way to go 104 00:04:48,440 --> 00:04:51,440 Speaker 1: about building a career, right, and you can skip loads 105 00:04:51,560 --> 00:04:54,200 Speaker 1: of college debt and the time it takes to go 106 00:04:54,240 --> 00:04:57,360 Speaker 1: to college too, and start earning a solid income earlier. 107 00:04:57,520 --> 00:05:00,400 Speaker 1: And so it goes back to the question we've tackled 108 00:05:00,400 --> 00:05:02,560 Speaker 1: on the show a few times, is college still a 109 00:05:02,560 --> 00:05:05,760 Speaker 1: worthwhile pursuit? And the answer is always maybe, because it 110 00:05:05,800 --> 00:05:08,080 Speaker 1: comes down to a value proposition, right. I mean, the 111 00:05:08,279 --> 00:05:11,159 Speaker 1: Bureau of Labor Statistics, they say that the average college 112 00:05:11,160 --> 00:05:13,640 Speaker 1: graduate is going to earn a million dollars more over 113 00:05:13,680 --> 00:05:17,159 Speaker 1: their lifetime than their high school grad equivalent, and folks 114 00:05:17,160 --> 00:05:19,839 Speaker 1: with a college degree are twenty percent more likely to 115 00:05:19,880 --> 00:05:22,080 Speaker 1: own a home, and a massive amount of the new 116 00:05:22,160 --> 00:05:24,720 Speaker 1: jobs that are being created are going to college educated folks. 117 00:05:24,800 --> 00:05:27,520 Speaker 1: But we're also seeing the tide start to turn a 118 00:05:27,560 --> 00:05:30,479 Speaker 1: little bit, and especially with how much a college education 119 00:05:30,920 --> 00:05:33,640 Speaker 1: costs these days, it's not a slam dunk decision. And 120 00:05:33,800 --> 00:05:35,960 Speaker 1: the unemployment rate is lower for folks who have a 121 00:05:35,960 --> 00:05:38,839 Speaker 1: college education a college degree as well, and so basically, 122 00:05:38,839 --> 00:05:41,800 Speaker 1: if we enter into a recession, the folks, the individuals 123 00:05:41,839 --> 00:05:45,240 Speaker 1: with a college education are going to be impacted less severely. 124 00:05:45,600 --> 00:05:47,480 Speaker 1: And so basically, at the end of the day, we're 125 00:05:47,520 --> 00:05:50,040 Speaker 1: talking about college degree holders earning more money. They've got 126 00:05:50,120 --> 00:05:53,120 Speaker 1: more job security and more opportunity as well, and all 127 00:05:53,160 --> 00:05:55,599 Speaker 1: of these things sound like a lot of positives in 128 00:05:55,600 --> 00:05:58,599 Speaker 1: our book. But again, we've also seen the costs of 129 00:05:58,720 --> 00:06:02,560 Speaker 1: higher education rocket. I think I saw an infographic recently. 130 00:06:02,760 --> 00:06:05,280 Speaker 1: Tuition costs are one hundred and seventy percent higher than 131 00:06:05,279 --> 00:06:07,480 Speaker 1: they were twenty years ago. Like the only thing that 132 00:06:07,560 --> 00:06:11,000 Speaker 1: has increased in cost more than education, let me guess, oh, 133 00:06:11,000 --> 00:06:13,640 Speaker 1: you know, healthcare? Healthcare, which was like over two percent. 134 00:06:13,680 --> 00:06:15,520 Speaker 1: It's crazy. I mean, those are the top two things 135 00:06:15,520 --> 00:06:17,719 Speaker 1: that have gone up a lot of other things. Actually 136 00:06:17,760 --> 00:06:19,840 Speaker 1: in our lives, we assume everything's gotten more expensive, but 137 00:06:19,920 --> 00:06:23,800 Speaker 1: it's not true, like TVs gotten much more affordable, are 138 00:06:23,800 --> 00:06:27,479 Speaker 1: more affordable. Yeah, But I mean some folks in specific 139 00:06:27,520 --> 00:06:29,919 Speaker 1: fields of study, when it comes to the degrees that 140 00:06:29,920 --> 00:06:32,719 Speaker 1: they're pursuing, like they find it almost impossible to overcome 141 00:06:32,760 --> 00:06:36,080 Speaker 1: the cost of their very very expensive education. I'm thinking 142 00:06:36,400 --> 00:06:39,080 Speaker 1: specifically in the fields of like psychology, or if you 143 00:06:39,240 --> 00:06:43,159 Speaker 1: got a religion degree, or if like an art history degree. 144 00:06:43,440 --> 00:06:46,919 Speaker 1: These are all things that are really difficult if in particular, 145 00:06:46,920 --> 00:06:49,640 Speaker 1: if you want to like a private out of state college. So, 146 00:06:50,000 --> 00:06:51,560 Speaker 1: I don't know, we wanted to share this because while 147 00:06:51,800 --> 00:06:55,080 Speaker 1: opting to go to college that was rarely a bad decision. 148 00:06:55,839 --> 00:06:58,599 Speaker 1: Thirty years ago, there is a lot more number crunching 149 00:06:58,640 --> 00:07:01,160 Speaker 1: that needs to happen before you that decision these days, 150 00:07:01,440 --> 00:07:03,920 Speaker 1: and the story that we're referencing, they talked about how 151 00:07:03,960 --> 00:07:06,240 Speaker 1: a lot of different companies they're they're highlighting the fact 152 00:07:06,279 --> 00:07:08,800 Speaker 1: that there is a labor shortage. There just are not 153 00:07:08,920 --> 00:07:11,679 Speaker 1: enough workers, and so many of them are essentially providing 154 00:07:11,760 --> 00:07:13,960 Speaker 1: that on the job training. And what's so great about 155 00:07:13,960 --> 00:07:16,440 Speaker 1: that is, I mean you literally are earning a solid 156 00:07:16,440 --> 00:07:18,800 Speaker 1: income right out of school, like right out of high school. 157 00:07:19,280 --> 00:07:20,800 Speaker 1: And what this made me think of was just being 158 00:07:20,800 --> 00:07:23,640 Speaker 1: flexible with what jobs you might want to pursue it 159 00:07:23,800 --> 00:07:25,240 Speaker 1: or like what career path you want to take it. 160 00:07:25,400 --> 00:07:28,160 Speaker 1: It makes me think of travel and the most affordable 161 00:07:28,200 --> 00:07:31,000 Speaker 1: way to score like the cheapest airfare is well, look 162 00:07:31,040 --> 00:07:33,680 Speaker 1: for the deals, look for the opportunity, go to look 163 00:07:33,680 --> 00:07:35,720 Speaker 1: for those deals, find that opportunity, let the deal drive 164 00:07:35,760 --> 00:07:37,760 Speaker 1: the destination, and then you convince yourself, you know, you know, 165 00:07:37,760 --> 00:07:39,520 Speaker 1: convince yourself, but you're like, all right, what could we 166 00:07:39,560 --> 00:07:41,480 Speaker 1: do when we were we to go to this country? 167 00:07:41,480 --> 00:07:43,200 Speaker 1: And in a similar way, I think this is a 168 00:07:43,240 --> 00:07:46,600 Speaker 1: bigger decision obviously obviously than just a vacation, but see 169 00:07:46,600 --> 00:07:47,880 Speaker 1: what kind of training they're going to be able to 170 00:07:47,880 --> 00:07:51,320 Speaker 1: provide you and you're essentially receiving a free education. Maybe 171 00:07:51,360 --> 00:07:53,280 Speaker 1: that works out for a while, maybe it doesn't, But 172 00:07:53,440 --> 00:07:55,480 Speaker 1: during that period of time you can then look to 173 00:07:55,760 --> 00:07:59,480 Speaker 1: potentially other employers who might then be offering to cover 174 00:07:59,520 --> 00:08:01,400 Speaker 1: the cost of a higher education that the cost of 175 00:08:01,560 --> 00:08:04,360 Speaker 1: a bachelor's degree. In that case, I think it just 176 00:08:04,400 --> 00:08:07,600 Speaker 1: pays to be flexible and to consider everything should be 177 00:08:07,640 --> 00:08:09,920 Speaker 1: open for consideration when it comes to a job. Well, 178 00:08:09,920 --> 00:08:11,880 Speaker 1: and the folks who end up in the worst position 179 00:08:12,040 --> 00:08:14,200 Speaker 1: possible are the folks who went to college for a 180 00:08:14,280 --> 00:08:16,400 Speaker 1: year or two or three but didn't end up getting 181 00:08:16,400 --> 00:08:18,120 Speaker 1: that three And so there's a lot of people in 182 00:08:18,160 --> 00:08:20,840 Speaker 1: that boat too, hold the downside without any upside. Yeah, 183 00:08:20,840 --> 00:08:23,800 Speaker 1: And I think those are people who, in many, many 184 00:08:23,800 --> 00:08:26,640 Speaker 1: times we're pushed into a college degree is the way 185 00:08:26,800 --> 00:08:29,800 Speaker 1: you need to go. They've been indoctrinated when the reality 186 00:08:29,920 --> 00:08:33,640 Speaker 1: is getting an apprenticeship or taking that entrepreneurial approach from 187 00:08:33,640 --> 00:08:35,920 Speaker 1: an early age might have been better than racking up 188 00:08:36,120 --> 00:08:38,720 Speaker 1: college debt without anything to show for it. Which on 189 00:08:38,720 --> 00:08:40,839 Speaker 1: that nomat let's talk about student loan debt for a second. 190 00:08:41,080 --> 00:08:42,880 Speaker 1: How bad is it? It's really bad. I think we've 191 00:08:42,880 --> 00:08:44,320 Speaker 1: found that for a long time where we're still something 192 00:08:44,360 --> 00:08:47,440 Speaker 1: like one point seven trillion dollars an outstanding student loan debt, 193 00:08:47,679 --> 00:08:49,760 Speaker 1: but more than more than half of the folks in 194 00:08:49,760 --> 00:08:53,280 Speaker 1: a recent survey said that their loan payments being paused 195 00:08:53,760 --> 00:08:57,600 Speaker 1: are basically a necessity for them to be able to 196 00:08:57,600 --> 00:09:00,560 Speaker 1: remain financially stable. That's a survey that canut from Credit 197 00:09:00,600 --> 00:09:03,160 Speaker 1: Harma this week, and basically what they're saying is when 198 00:09:03,360 --> 00:09:08,000 Speaker 1: payments resume, I'm screwed, which to me is just it's 199 00:09:08,000 --> 00:09:10,640 Speaker 1: hard to fathom that we've had payments paused for this long, 200 00:09:10,760 --> 00:09:14,000 Speaker 1: just basically a line item removed from people's budgets, and 201 00:09:14,160 --> 00:09:17,040 Speaker 1: folks are saying, like, I still now that that's been 202 00:09:17,080 --> 00:09:19,199 Speaker 1: gone for this long, I don't know how I'm going 203 00:09:19,240 --> 00:09:22,640 Speaker 1: to approach it when that eventually does come back into 204 00:09:22,640 --> 00:09:24,720 Speaker 1: my life. People are just getting they've gotten used to 205 00:09:24,760 --> 00:09:27,000 Speaker 1: not having the payment. Yeah, And the longer we continue 206 00:09:27,000 --> 00:09:29,120 Speaker 1: to go down this path, which could continue for many 207 00:09:29,200 --> 00:09:30,880 Speaker 1: months to come, the harder it's going to be for 208 00:09:30,920 --> 00:09:33,000 Speaker 1: these folks to face down that payment again. And so 209 00:09:33,320 --> 00:09:34,920 Speaker 1: I get why people are saying this. I think what 210 00:09:34,920 --> 00:09:36,320 Speaker 1: a lot of people are saying is like really, like 211 00:09:36,640 --> 00:09:38,880 Speaker 1: I just don't want my student loan to resume, which 212 00:09:38,920 --> 00:09:42,000 Speaker 1: I get. Like if I had that opportunity to not 213 00:09:42,000 --> 00:09:44,280 Speaker 1: pay my mortgage or wave away a certain debt in 214 00:09:44,280 --> 00:09:46,120 Speaker 1: my life, like I would, I would probably take it 215 00:09:46,160 --> 00:09:48,640 Speaker 1: if I had some sort of magical ability. But I 216 00:09:48,720 --> 00:09:51,960 Speaker 1: do want our listeners at least to prepare for the 217 00:09:52,000 --> 00:09:54,760 Speaker 1: reality the student loans are going to resume at some point. Totally. 218 00:09:54,840 --> 00:09:56,640 Speaker 1: It kind of makes me think of like the snooze 219 00:09:56,720 --> 00:09:59,120 Speaker 1: button on an alarm. Yeah, you're thinking, oh, I could 220 00:09:59,200 --> 00:10:01,880 Speaker 1: not ever wake up without us snooze button. Well guess 221 00:10:01,880 --> 00:10:04,320 Speaker 1: what what if snooze buttons didn't exist, Well, you just 222 00:10:04,360 --> 00:10:06,880 Speaker 1: get up, Yeah, Like like your learn would go off 223 00:10:06,920 --> 00:10:08,680 Speaker 1: and that would be your single that it's time to 224 00:10:08,679 --> 00:10:11,440 Speaker 1: wake up. But because the snooze button exists, you know, 225 00:10:11,480 --> 00:10:14,520 Speaker 1: we can't imagine life without it. It's it's like Parkinson's law, 226 00:10:15,040 --> 00:10:17,560 Speaker 1: like you will take up all the time necessary or 227 00:10:17,679 --> 00:10:19,760 Speaker 1: all the time that you are given in order to 228 00:10:19,840 --> 00:10:22,079 Speaker 1: complete a job. Right, It's like that, except for with money. 229 00:10:22,280 --> 00:10:25,360 Speaker 1: And so we've just absorbed that those dollars that folks 230 00:10:25,400 --> 00:10:27,120 Speaker 1: aren't putting towards our student loans, and there and it 231 00:10:27,200 --> 00:10:30,240 Speaker 1: is going towards their monthly expenses, right, Like, maybe they 232 00:10:30,440 --> 00:10:34,360 Speaker 1: only had twelve hundred dollars worth of expendable income before 233 00:10:34,480 --> 00:10:36,920 Speaker 1: and now they've got fifteen hundred, and they're thinking, well, yeah, 234 00:10:36,920 --> 00:10:38,920 Speaker 1: I'm gonna I'm gonna find a way to spend that 235 00:10:38,920 --> 00:10:41,520 Speaker 1: that extra three hundred bucks a month. Yeah, it's incredibly 236 00:10:41,520 --> 00:10:44,440 Speaker 1: easy for us to justify our spending when we don't 237 00:10:44,480 --> 00:10:46,840 Speaker 1: have other goals. And so that's why it's so important 238 00:10:46,840 --> 00:10:48,880 Speaker 1: for us to have a plan, because I mean, we 239 00:10:48,920 --> 00:10:51,079 Speaker 1: don't obviously, we don't want most folks with student loan 240 00:10:51,120 --> 00:10:52,959 Speaker 1: debt right now paying that you know, paying down their 241 00:10:52,960 --> 00:10:56,240 Speaker 1: debt while this pauses in place Like this is that's 242 00:10:56,240 --> 00:10:58,480 Speaker 1: the policy currently, and we want you to be able 243 00:10:58,520 --> 00:11:01,199 Speaker 1: to utilize the rules and the policy and the laws 244 00:11:01,360 --> 00:11:03,080 Speaker 1: in order for you to get ahead the most with 245 00:11:03,120 --> 00:11:05,160 Speaker 1: your money. But we do want you to use the 246 00:11:05,200 --> 00:11:07,880 Speaker 1: dollars that you would be spending to make other personal 247 00:11:07,960 --> 00:11:11,640 Speaker 1: finance progress, right Like, don't just absorb and incorporate those 248 00:11:11,640 --> 00:11:13,880 Speaker 1: dollars into your spending. We want you to pay off 249 00:11:13,880 --> 00:11:15,360 Speaker 1: those other debts. We want you to build up your 250 00:11:15,360 --> 00:11:18,800 Speaker 1: savings or even invest more of that money for your future. 251 00:11:19,080 --> 00:11:21,320 Speaker 1: You've still got some time to get prepared for those 252 00:11:21,320 --> 00:11:23,360 Speaker 1: payments to resume. We don't want you to waste this 253 00:11:23,440 --> 00:11:27,200 Speaker 1: time versus being able to completely hit the ground running 254 00:11:27,240 --> 00:11:30,040 Speaker 1: once those payments fire back up. Yeah, and again we 255 00:11:30,080 --> 00:11:32,200 Speaker 1: don't know when they're going to fire back up. Will 256 00:11:32,360 --> 00:11:34,640 Speaker 1: that remains to be seen. We'll let you know, kind 257 00:11:34,640 --> 00:11:38,400 Speaker 1: of like as that news comes out, as so much 258 00:11:38,440 --> 00:11:40,720 Speaker 1: has to do with the Supreme Court decision right now 259 00:11:40,800 --> 00:11:44,440 Speaker 1: on that partial loan forgiveness. But yeah, there are steps 260 00:11:44,480 --> 00:11:47,320 Speaker 1: you can take to be to start getting prepared right now. 261 00:11:47,559 --> 00:11:49,240 Speaker 1: The fact that half of people are like I'd be 262 00:11:49,320 --> 00:11:51,480 Speaker 1: up to creek without a paddle, that's just that's scary news. 263 00:11:51,559 --> 00:11:54,319 Speaker 1: I hate seeing that. But let's talk about e bikes, 264 00:11:54,440 --> 00:11:56,320 Speaker 1: Matt for a second. That's one of my favorite topics. 265 00:11:56,320 --> 00:11:58,360 Speaker 1: And ebikes are awesome. We haven't talked about in a while, 266 00:11:58,360 --> 00:12:00,880 Speaker 1: but I saw we haven't talked about Yeah ebikes or 267 00:12:01,080 --> 00:12:04,040 Speaker 1: traditional biking. Yeah, and eat trad bikes. I like both. 268 00:12:05,000 --> 00:12:07,640 Speaker 1: I like both. I'm an equal opportunity bike employer over here. 269 00:12:07,679 --> 00:12:10,640 Speaker 1: I'm a trad guy personally, Yes you are, well, I 270 00:12:10,880 --> 00:12:14,040 Speaker 1: rode my trad bike today. But Ribban, who makes a 271 00:12:14,080 --> 00:12:17,280 Speaker 1: bunch of awesome electric trucks and SUVs. Well a couple 272 00:12:17,559 --> 00:12:20,480 Speaker 1: they apparently want to electrify everything, and they announced that 273 00:12:20,520 --> 00:12:22,800 Speaker 1: they're working on an ebike, which I thought was really cool, 274 00:12:23,000 --> 00:12:26,520 Speaker 1: super cool, although if they're priced anything like their trucks are, 275 00:12:26,600 --> 00:12:29,000 Speaker 1: I probably won't be able to afford it. They're probably 276 00:12:29,040 --> 00:12:31,240 Speaker 1: gonna be really expensive, but they're also going to look 277 00:12:31,360 --> 00:12:33,719 Speaker 1: really cool. I'm sure. I'm yeah, I'm guessing there. Well, 278 00:12:33,720 --> 00:12:36,160 Speaker 1: I saw that there's a chance that it's not an 279 00:12:36,160 --> 00:12:40,760 Speaker 1: actual bicycle but a motorcycle man, which I could totally 280 00:12:41,120 --> 00:12:43,560 Speaker 1: I could see myself getting on in e motorcy. Yeah, 281 00:12:43,600 --> 00:12:45,120 Speaker 1: I think so if my wife would let me, I 282 00:12:45,120 --> 00:12:47,880 Speaker 1: would wouldn't be awesome If they decided to start making 283 00:12:47,880 --> 00:12:51,079 Speaker 1: those electric motorcycles in the plant or in the factory 284 00:12:51,080 --> 00:12:52,719 Speaker 1: that's going to be opening up here in Atlanta, that 285 00:12:52,720 --> 00:12:54,240 Speaker 1: would be awesome. Well, so I just I guess I 286 00:12:54,280 --> 00:12:56,120 Speaker 1: just want to push people don't necessarily hold out for 287 00:12:56,160 --> 00:12:57,320 Speaker 1: the Ribby and e bike. You might be a little 288 00:12:57,320 --> 00:12:59,079 Speaker 1: too expensive, but a lot of other e bikes are 289 00:12:59,240 --> 00:13:02,079 Speaker 1: are pretty inexpensive, and they're going to save you a 290 00:13:02,120 --> 00:13:03,280 Speaker 1: lot of money. If it means you're going to be 291 00:13:03,280 --> 00:13:05,160 Speaker 1: in your car less and one of our list verse 292 00:13:05,200 --> 00:13:07,839 Speaker 1: he sent us in an email about ebikes in Denver, 293 00:13:07,960 --> 00:13:09,959 Speaker 1: and there's like government subsidies that have been put in 294 00:13:10,000 --> 00:13:13,080 Speaker 1: place to spur adoption and Bloomberg actually they had an 295 00:13:13,160 --> 00:13:16,240 Speaker 1: article about how successful that incentive program has been. The 296 00:13:16,360 --> 00:13:19,160 Speaker 1: subsidies are are pretty big. It's like four hundred bucks 297 00:13:19,200 --> 00:13:21,560 Speaker 1: off a new regular ebike and nine hundred bucks off 298 00:13:21,559 --> 00:13:25,360 Speaker 1: a cargo ebike, which just makes them ridiculously affordable. If 299 00:13:25,360 --> 00:13:27,680 Speaker 1: that's the case. And so yeah, if you're buying like 300 00:13:27,720 --> 00:13:30,560 Speaker 1: a fairly basic one, not one of the fancy soon 301 00:13:30,640 --> 00:13:33,240 Speaker 1: to be ribbian ones, you can probably snag it for 302 00:13:33,360 --> 00:13:35,280 Speaker 1: like a few hundred bucks, which isn't bad. And if 303 00:13:35,280 --> 00:13:36,360 Speaker 1: he gets you out there on the bike, if he 304 00:13:36,360 --> 00:13:38,440 Speaker 1: get you out there on the trails means more exercise. 305 00:13:38,440 --> 00:13:40,440 Speaker 1: It also means using your car less. I think this 306 00:13:40,520 --> 00:13:42,600 Speaker 1: is like a win win win. Yeah, And obviously this 307 00:13:42,640 --> 00:13:44,959 Speaker 1: is going to cost the city of Denver a decent 308 00:13:45,080 --> 00:13:48,200 Speaker 1: chunk of money over time. However, it could have a 309 00:13:48,360 --> 00:13:52,160 Speaker 1: significant positive downstream effects. Like it's not just that more 310 00:13:52,160 --> 00:13:53,960 Speaker 1: folks are going to be getting the ebikes you know 311 00:13:53,960 --> 00:13:56,800 Speaker 1: who otherwise might not have, which is great, but the 312 00:13:56,840 --> 00:14:00,199 Speaker 1: city just overall is experiencing a ripple effect of more 313 00:14:00,240 --> 00:14:03,960 Speaker 1: bikes on the road. There's more advocacy happening in order 314 00:14:04,000 --> 00:14:07,320 Speaker 1: to create more bike lanes, which benefit all bikers out there. 315 00:14:07,679 --> 00:14:09,120 Speaker 1: And some of my guess is that this program's not 316 00:14:09,160 --> 00:14:12,120 Speaker 1: only going to change how folks get around in the 317 00:14:12,200 --> 00:14:14,800 Speaker 1: Mile High High City, but it's gonna change the city 318 00:14:14,840 --> 00:14:16,599 Speaker 1: itself for the better. Right, Like, not only is it 319 00:14:16,679 --> 00:14:18,440 Speaker 1: gonna it's going to improve the quality of life for 320 00:14:18,440 --> 00:14:20,360 Speaker 1: those who live there, They're going to be healthier, those 321 00:14:20,360 --> 00:14:22,600 Speaker 1: folks are going to be spending less money on the 322 00:14:22,640 --> 00:14:25,160 Speaker 1: cost of transportation. But not to mention like this is 323 00:14:25,280 --> 00:14:28,200 Speaker 1: a this is a greener alternative than driving around and 324 00:14:28,800 --> 00:14:32,560 Speaker 1: very heavy expensive vehicles. Yeah, and some like For instance, 325 00:14:32,600 --> 00:14:36,080 Speaker 1: in California, some cities already have incentives as well, but 326 00:14:36,120 --> 00:14:39,080 Speaker 1: I think the whole state of California is adopting incentives 327 00:14:39,160 --> 00:14:42,400 Speaker 1: to spurt ebike adoption as well. They make cities better 328 00:14:42,400 --> 00:14:44,520 Speaker 1: and they make people healthier. So the more we all 329 00:14:44,800 --> 00:14:46,240 Speaker 1: get on our bikes, I think it's a good thing. 330 00:14:46,320 --> 00:14:48,440 Speaker 1: All right, let's quickly touch on something else before the 331 00:14:48,480 --> 00:14:51,720 Speaker 1: break here, Matt, babysitting rates just came out and they've 332 00:14:51,720 --> 00:14:54,640 Speaker 1: apparently risen ten percent over the past year. Baby sitting 333 00:14:54,600 --> 00:14:55,800 Speaker 1: in a chief. I was like, literally over at a 334 00:14:55,800 --> 00:14:58,040 Speaker 1: friend's house the other day and there they have a daughter. 335 00:14:58,120 --> 00:15:00,560 Speaker 1: She is in I want to say, seven, finth grade, 336 00:15:00,720 --> 00:15:02,080 Speaker 1: and her mom was like, oh, yeah, she'll baby sit 337 00:15:02,160 --> 00:15:03,760 Speaker 1: for twelve bucks an hour, and she was correct her mom. 338 00:15:03,840 --> 00:15:05,520 Speaker 1: She's like, now it's fifteen now, and I was like, oh, 339 00:15:05,560 --> 00:15:08,440 Speaker 1: my goodness, Like inflation is going up in a major 340 00:15:08,480 --> 00:15:11,960 Speaker 1: way even for these young middle schools. Babe, you feel 341 00:15:11,960 --> 00:15:14,960 Speaker 1: pretty good about the ten dollars per hour babysitter high schooler. 342 00:15:15,040 --> 00:15:17,760 Speaker 1: There you go, who we have? You're getting a deal weak, Yeah, 343 00:15:17,960 --> 00:15:20,320 Speaker 1: we are, because we also tit pretty well because the 344 00:15:20,440 --> 00:15:22,920 Speaker 1: national average apparently is twenty five dollars per hour. If 345 00:15:22,960 --> 00:15:25,600 Speaker 1: you hire a babysitter for two kids, you've got four, 346 00:15:25,640 --> 00:15:27,760 Speaker 1: so it's gonna be even more than that, and that 347 00:15:27,880 --> 00:15:30,280 Speaker 1: just that just makes a night out on the town 348 00:15:30,320 --> 00:15:33,600 Speaker 1: prohibitively expensive. And so I just wanted to share, Hey, yeah, 349 00:15:33,640 --> 00:15:36,000 Speaker 1: this this sucks, but we have a remedy that more 350 00:15:36,360 --> 00:15:38,080 Speaker 1: and more people should consider because you and I we 351 00:15:38,120 --> 00:15:41,000 Speaker 1: don't have to use babysitters all that often, but we 352 00:15:41,080 --> 00:15:42,360 Speaker 1: still get out there on the town. We still get 353 00:15:42,440 --> 00:15:46,920 Speaker 1: date nights with our partner, and it's because we do 354 00:15:47,040 --> 00:15:49,320 Speaker 1: date nights swaps and so you come over and watch 355 00:15:49,360 --> 00:15:50,920 Speaker 1: my kids once a week. I come over and watch 356 00:15:50,920 --> 00:15:53,040 Speaker 1: your kids once a week. We've put them to bed already, 357 00:15:53,040 --> 00:15:54,720 Speaker 1: so it's like the seven thirty to ten o'clock sort 358 00:15:54,720 --> 00:15:56,920 Speaker 1: of timeframe. But I think it's perfect. More and more 359 00:15:56,920 --> 00:15:59,080 Speaker 1: people should consider this good because it's tough to get 360 00:15:59,080 --> 00:16:01,320 Speaker 1: out for three out your time, seventy five bucks plus 361 00:16:01,320 --> 00:16:02,760 Speaker 1: the price of dinner or the show or whatever we 362 00:16:02,800 --> 00:16:05,240 Speaker 1: want to go do it just it becomes I think 363 00:16:05,240 --> 00:16:07,840 Speaker 1: more people avoid date nights because of how expensive they are, 364 00:16:07,840 --> 00:16:11,080 Speaker 1: and specifically how expensive babysitting in So I just want 365 00:16:11,080 --> 00:16:13,400 Speaker 1: to encourage people. You see these numbers, but there's a 366 00:16:13,400 --> 00:16:16,240 Speaker 1: way to make sure you're not paying that much. Absolutely, 367 00:16:16,280 --> 00:16:18,600 Speaker 1: and then when you aren't going out on these date nights, 368 00:16:18,600 --> 00:16:21,080 Speaker 1: then your relationship suffers. Yeah. So yeah, the ability for 369 00:16:21,440 --> 00:16:23,160 Speaker 1: us to get out twice a month, for y'all to 370 00:16:23,240 --> 00:16:25,120 Speaker 1: be able to get out twice a month, well worth 371 00:16:25,760 --> 00:16:27,960 Speaker 1: you know, hopping over to y'all's place and sitting there 372 00:16:28,040 --> 00:16:31,080 Speaker 1: and reading or watching some TV, listening to a podcast, 373 00:16:31,080 --> 00:16:33,640 Speaker 1: which is often oftentimes what I'm doing as well. But Joel, 374 00:16:33,640 --> 00:16:36,280 Speaker 1: we've got several other stories that we're gonna get to. Specifically, 375 00:16:36,320 --> 00:16:39,480 Speaker 1: we're going to spend a minute talking about flexible spending 376 00:16:39,520 --> 00:16:42,520 Speaker 1: accounts and how so many Americans aren't flushing money down 377 00:16:42,560 --> 00:16:44,000 Speaker 1: the tour that we're going to talk about how you 378 00:16:44,040 --> 00:16:46,440 Speaker 1: can take advantage of that money that you have already 379 00:16:46,440 --> 00:16:48,200 Speaker 1: set aside. We'll get to that, plus a few other 380 00:16:48,200 --> 00:16:59,760 Speaker 1: stories right after this. All right, we're back. The Friday 381 00:16:59,800 --> 00:17:02,640 Speaker 1: flight continues. Matt, you mentioned people flushing money down the toilet. 382 00:17:02,680 --> 00:17:04,760 Speaker 1: Have you ever heard the song cat flushing a toilet? 383 00:17:04,840 --> 00:17:06,640 Speaker 1: But we've talked, we talked about it. My kids love 384 00:17:06,680 --> 00:17:10,280 Speaker 1: that song. It's terrible. But it was when we were 385 00:17:10,280 --> 00:17:12,960 Speaker 1: talking about the guy, the folks who make those songs 386 00:17:12,960 --> 00:17:15,560 Speaker 1: and the royalties that oh yeah, remember, I think I 387 00:17:15,560 --> 00:17:17,520 Speaker 1: guess crushing it just based on how many times my 388 00:17:17,600 --> 00:17:19,840 Speaker 1: kids will play that song. But we'll get to that 389 00:17:19,880 --> 00:17:21,960 Speaker 1: story about flushing money down the toilet in a second, 390 00:17:21,960 --> 00:17:24,600 Speaker 1: But first let's get to the ludicrous headline of the week. 391 00:17:24,680 --> 00:17:27,240 Speaker 1: And this one comes from the Wall Street Journal, and 392 00:17:27,359 --> 00:17:30,399 Speaker 1: the headline title was the cameras worked fine. Their maker 393 00:17:30,600 --> 00:17:32,760 Speaker 1: said they had reached the end of their life. And 394 00:17:32,920 --> 00:17:34,760 Speaker 1: it makes me think of actually the ludicrous headline from 395 00:17:34,760 --> 00:17:37,359 Speaker 1: a couple of weeks ago Matt about hp Hewlett Packard 396 00:17:37,400 --> 00:17:40,119 Speaker 1: remotely shutting down printers on their customers. And we're just 397 00:17:40,200 --> 00:17:42,359 Speaker 1: living in this day and age where it feels like 398 00:17:42,359 --> 00:17:44,639 Speaker 1: we don't fully own the things that we buy, which 399 00:17:45,200 --> 00:17:47,080 Speaker 1: is tough to stomach and it sucks. Yeah, And in 400 00:17:47,080 --> 00:17:50,600 Speaker 1: this case it was camera company are Low. They implemented 401 00:17:50,640 --> 00:17:52,600 Speaker 1: an end of life policy for some of its cameras. 402 00:17:52,680 --> 00:17:54,520 Speaker 1: End of life that just feels like like what you 403 00:17:54,600 --> 00:17:56,960 Speaker 1: do with your loved one who's aging and I don't 404 00:17:56,960 --> 00:17:58,480 Speaker 1: know about to die. But they're doing this with cameras 405 00:17:58,480 --> 00:18:01,560 Speaker 1: that work perfectly good and so and users were perfectly 406 00:18:01,560 --> 00:18:03,360 Speaker 1: happy with the cameras and the way they were working. 407 00:18:03,359 --> 00:18:05,840 Speaker 1: And some people had invested lots of money, like thousands 408 00:18:05,880 --> 00:18:08,280 Speaker 1: and thousands of dollars and buying these cameras and setting 409 00:18:08,280 --> 00:18:10,000 Speaker 1: them up around their house or their place of work. 410 00:18:10,359 --> 00:18:13,080 Speaker 1: And the whole point, by the way, for many customers 411 00:18:13,160 --> 00:18:15,720 Speaker 1: was the no fee cloud storage that came with these 412 00:18:15,760 --> 00:18:17,840 Speaker 1: cameras and if they bought a new one. This is 413 00:18:17,840 --> 00:18:20,119 Speaker 1: with Arlow specific. Yeah, they're gonna have to pay like 414 00:18:20,119 --> 00:18:23,040 Speaker 1: a subscription fee, where Arlow had said, oh no, if 415 00:18:23,040 --> 00:18:25,320 Speaker 1: you buy these ones, the seven day thing kind of 416 00:18:25,359 --> 00:18:28,119 Speaker 1: comes with it. At Fortunately, Arlow's back down thanks to 417 00:18:28,119 --> 00:18:30,719 Speaker 1: customer backlash, and they're going to be supporting these cameras 418 00:18:30,720 --> 00:18:33,080 Speaker 1: for longer. And they've said that they're going to support 419 00:18:33,080 --> 00:18:36,560 Speaker 1: all models for at least four years after discontinuation, moving 420 00:18:36,560 --> 00:18:38,639 Speaker 1: forward after they stopped selling an item. But man, we 421 00:18:38,680 --> 00:18:43,040 Speaker 1: continue to see stories about planned obsolescens and tech companies 422 00:18:43,440 --> 00:18:47,679 Speaker 1: basically breaking your devices remotely. I hate it. It's a 423 00:18:47,760 --> 00:18:50,840 Speaker 1: terrible trend. So like best case scenario, it feels like 424 00:18:50,840 --> 00:18:52,399 Speaker 1: a bait and switch, right because you were sold a 425 00:18:52,400 --> 00:18:55,120 Speaker 1: bill of goods and then it's like, oh no, actually 426 00:18:55,200 --> 00:18:58,040 Speaker 1: this is this is what it includes. Worst case scenario 427 00:18:58,119 --> 00:19:00,600 Speaker 1: is it kind of feels like gas lighting. Take like, 428 00:19:00,640 --> 00:19:02,760 Speaker 1: oh no, you think you own this item. Oh but 429 00:19:02,880 --> 00:19:06,399 Speaker 1: in facts, you can't do what you want with that 430 00:19:06,520 --> 00:19:09,960 Speaker 1: item that you think you can. It's like consumer gas lighting, 431 00:19:10,000 --> 00:19:12,080 Speaker 1: like they're rewriting history a little bit and trying to 432 00:19:12,080 --> 00:19:15,000 Speaker 1: make sort of making us feel like that we're going crazy. 433 00:19:15,200 --> 00:19:18,520 Speaker 1: And I think it's healthy. We got to style, Yeah, 434 00:19:18,560 --> 00:19:20,119 Speaker 1: but I do think It's good to think about it 435 00:19:20,160 --> 00:19:22,520 Speaker 1: that way because I think that is when folks are 436 00:19:22,520 --> 00:19:24,320 Speaker 1: going to get a little more up in arms, Like 437 00:19:24,440 --> 00:19:26,840 Speaker 1: I think we need to take like literally more ownership 438 00:19:26,880 --> 00:19:29,080 Speaker 1: of the devices that we're purchasing and realizing that we 439 00:19:29,080 --> 00:19:31,800 Speaker 1: can have an impact on the different companies and manufacturers 440 00:19:31,800 --> 00:19:35,080 Speaker 1: that we're purchasing from. It shows that making your voice heard, 441 00:19:35,119 --> 00:19:37,680 Speaker 1: you know, complaining to that company, or you know, using 442 00:19:38,000 --> 00:19:41,359 Speaker 1: persuasion tactics on social media, those can all have an impact, 443 00:19:41,400 --> 00:19:43,239 Speaker 1: Like send an email to the Wall Street Journal, let 444 00:19:43,240 --> 00:19:45,240 Speaker 1: them know if there's a company out there that is 445 00:19:45,280 --> 00:19:48,359 Speaker 1: behaving poorly. But you know, we really are living in 446 00:19:48,400 --> 00:19:51,359 Speaker 1: a like a brave new world of connected devices, and 447 00:19:51,400 --> 00:19:53,880 Speaker 1: so it is important to look at how the manufacturers 448 00:19:53,880 --> 00:19:56,600 Speaker 1: are going to handle the support for their older devices. 449 00:19:57,119 --> 00:20:00,399 Speaker 1: So for instance, Apple, they typically offer a little bit 450 00:20:00,440 --> 00:20:03,640 Speaker 1: longer support than Google does for their phones. So keep 451 00:20:03,640 --> 00:20:05,480 Speaker 1: that in mind if you're trying to, you know, weigh 452 00:20:05,520 --> 00:20:08,719 Speaker 1: the pros and cons between buying perhaps some more affordable 453 00:20:08,800 --> 00:20:11,960 Speaker 1: droid device versus maybe a little bit more expensive iPhone. 454 00:20:12,000 --> 00:20:13,800 Speaker 1: You and I were just talking about that before the show, 455 00:20:13,880 --> 00:20:15,639 Speaker 1: before we started recording, Like, hey, my phone was a 456 00:20:15,680 --> 00:20:17,919 Speaker 1: lot cheaper than yours. But then again, your phone's going 457 00:20:17,960 --> 00:20:20,120 Speaker 1: to be supported longer, and so I might be hanging 458 00:20:20,119 --> 00:20:22,120 Speaker 1: on in a long round. It might be a wash. Yeah. 459 00:20:22,320 --> 00:20:25,080 Speaker 1: So I've got my iPhone thirteen Pro or whatever. I 460 00:20:25,080 --> 00:20:26,520 Speaker 1: think it's about a year and a half. Like it 461 00:20:26,520 --> 00:20:28,600 Speaker 1: still feels brain new to me, and I'm pretty sure 462 00:20:28,640 --> 00:20:31,320 Speaker 1: that I'm going to continue using that device for for 463 00:20:31,440 --> 00:20:33,040 Speaker 1: years down the road. And I think that's another thing 464 00:20:33,040 --> 00:20:36,200 Speaker 1: to keep in mind too, is that I think consumers 465 00:20:36,240 --> 00:20:37,960 Speaker 1: would have been more okay with this in the past, 466 00:20:38,119 --> 00:20:41,679 Speaker 1: as devices needed improving faster, right, Like think about the 467 00:20:41,720 --> 00:20:45,760 Speaker 1: first webcams or Wi Fi connected cameras that we used 468 00:20:45,760 --> 00:20:48,000 Speaker 1: to use with with our oldest kids when they're babies. 469 00:20:48,080 --> 00:20:51,280 Speaker 1: Like the video on those things were was terrible. Same 470 00:20:51,280 --> 00:20:54,200 Speaker 1: thing with phones. The early cameras were awful, the screen 471 00:20:54,240 --> 00:20:57,920 Speaker 1: resolution terrible, battery life horrendous. But now improvements are incremental 472 00:20:57,960 --> 00:21:00,000 Speaker 1: at best, it's incremental, and so there isn't a knee 473 00:21:00,160 --> 00:21:02,840 Speaker 1: to upgrade these devices. And because of that, I think 474 00:21:03,119 --> 00:21:07,960 Speaker 1: hopefully we can unite our voices and let our complaints 475 00:21:07,960 --> 00:21:10,760 Speaker 1: be known and to simply let companies know that we 476 00:21:11,000 --> 00:21:13,800 Speaker 1: want to be able to use our devices for longer 477 00:21:13,800 --> 00:21:16,879 Speaker 1: than maybe they were originally planning on supporting before the 478 00:21:16,880 --> 00:21:19,399 Speaker 1: bottom line planing opts lesns. It's becoming harder to avoid, 479 00:21:19,800 --> 00:21:22,959 Speaker 1: but it's important to fight back wherever and however it 480 00:21:23,040 --> 00:21:24,399 Speaker 1: is that you can. Yeah, and it sounds like it 481 00:21:24,440 --> 00:21:26,040 Speaker 1: worked in this case, and I hope it continues to work. 482 00:21:26,080 --> 00:21:27,840 Speaker 1: You just kind of kind of saying no, no, we're 483 00:21:27,880 --> 00:21:30,840 Speaker 1: not taking this. This thing works perfectly. Fine, don't rip 484 00:21:30,880 --> 00:21:33,520 Speaker 1: away from me something that I bought four I bought 485 00:21:33,560 --> 00:21:36,520 Speaker 1: fair and square that is still working properly. Yeah, all right, 486 00:21:36,560 --> 00:21:39,080 Speaker 1: let's talk about agree finding a new savings account, Matt. 487 00:21:39,080 --> 00:21:40,959 Speaker 1: And this is something we talk about regularly, but this 488 00:21:41,040 --> 00:21:43,480 Speaker 1: is more of a warning actually about how to avoid 489 00:21:43,760 --> 00:21:45,560 Speaker 1: crappy banks. And I'm not even just talking about the 490 00:21:45,600 --> 00:21:47,879 Speaker 1: big banks that we kind of rake over the coals 491 00:21:48,000 --> 00:21:50,040 Speaker 1: all the time. We got we got new crappy banks 492 00:21:50,080 --> 00:21:53,800 Speaker 1: to exactly. And so, of course, like rates on savings 493 00:21:53,920 --> 00:21:55,400 Speaker 1: have been going up, which is a great thing. We've 494 00:21:55,400 --> 00:21:58,080 Speaker 1: been documenting that regularly. And we've always said switching to 495 00:21:58,119 --> 00:22:01,000 Speaker 1: a better bank so that you're saying, isn't earning next 496 00:22:01,000 --> 00:22:04,119 Speaker 1: to nothing is a good route to take that you 497 00:22:04,160 --> 00:22:06,360 Speaker 1: should probably go with one of the online banks as 498 00:22:06,359 --> 00:22:08,320 Speaker 1: paying somewhere in the neighborhood of four percent versus the 499 00:22:08,320 --> 00:22:10,880 Speaker 1: big bank that's paying point zero two percent or something 500 00:22:10,920 --> 00:22:13,960 Speaker 1: like that. Just a massive chasm between the rates that 501 00:22:14,000 --> 00:22:16,320 Speaker 1: are being offered. But here's the thing. You've got to 502 00:22:16,359 --> 00:22:18,439 Speaker 1: be careful when you're switching. Which bank are you switching? 503 00:22:18,480 --> 00:22:21,760 Speaker 1: Two and there's a bank called Compound Bank bank spelled 504 00:22:21,760 --> 00:22:26,200 Speaker 1: with a C, which sounds like Swiss or something. That's right. Yeah, 505 00:22:26,880 --> 00:22:28,520 Speaker 1: I'm like, oh, man, I put my monocle on and 506 00:22:28,520 --> 00:22:31,119 Speaker 1: sign up for that bank account. Well, they say on 507 00:22:31,160 --> 00:22:34,080 Speaker 1: their website they're offering a seven percent rate of return 508 00:22:34,160 --> 00:22:37,000 Speaker 1: on savings. They actually send us an email this week, Matt, 509 00:22:37,040 --> 00:22:40,040 Speaker 1: to tell us about this offering, and we were like, okay, 510 00:22:40,440 --> 00:22:44,480 Speaker 1: that seems outside of what the market is offering. This 511 00:22:44,600 --> 00:22:46,199 Speaker 1: seems like there's something might be wrong with that, and 512 00:22:46,240 --> 00:22:48,720 Speaker 1: so we looked into it a little more and sadly, 513 00:22:49,040 --> 00:22:51,080 Speaker 1: this bank is offering a return to this high because 514 00:22:51,119 --> 00:22:55,200 Speaker 1: you're actually investing in real estate bonds. It's not sitting 515 00:22:55,240 --> 00:22:58,600 Speaker 1: there in a traditional style savings account. And according to 516 00:22:58,600 --> 00:23:01,040 Speaker 1: the SEC filing, this kind of account comes with a 517 00:23:01,280 --> 00:23:04,640 Speaker 1: quote unquote high degree of risk. So Yeah, when you're 518 00:23:04,640 --> 00:23:06,920 Speaker 1: switching to online banks. There are a lot of online banks, 519 00:23:07,040 --> 00:23:08,720 Speaker 1: not all of them are created equal, and some of 520 00:23:08,760 --> 00:23:11,080 Speaker 1: them are doing risky things with your money, putting that 521 00:23:11,160 --> 00:23:13,560 Speaker 1: capital at risk, and you've got to be careful. And 522 00:23:13,600 --> 00:23:16,480 Speaker 1: so Compound Bank, we would say, is not one of 523 00:23:16,480 --> 00:23:18,320 Speaker 1: the banks you should be going with. Yeah, and it's 524 00:23:18,359 --> 00:23:21,760 Speaker 1: it's okay to go with a bond fund if you're 525 00:23:21,800 --> 00:23:24,240 Speaker 1: looking to potentially invest your money, but not, I mean 526 00:23:24,240 --> 00:23:25,760 Speaker 1: that the problem here, like the slide of hand, is 527 00:23:25,760 --> 00:23:29,000 Speaker 1: taking places that they're they're comparing their the rate and 528 00:23:29,160 --> 00:23:31,080 Speaker 1: what they're offering, like they're saying this one hundred and 529 00:23:31,080 --> 00:23:34,040 Speaker 1: twenty five times better than the national average, national average 530 00:23:34,040 --> 00:23:36,920 Speaker 1: of what, Well, it's not high yield savings accounts, it's 531 00:23:37,200 --> 00:23:39,679 Speaker 1: checking accounts, and so like that's not even fair, like 532 00:23:39,680 --> 00:23:42,840 Speaker 1: you're comparing apples to oranges. And so that's certainly something 533 00:23:42,880 --> 00:23:45,360 Speaker 1: to keep an eye out for. And in addition, Compound Bank, 534 00:23:45,400 --> 00:23:47,800 Speaker 1: they're not even insured by the FDIC because again it's 535 00:23:47,840 --> 00:23:50,919 Speaker 1: not a it's not a savings actual savings product, and 536 00:23:51,000 --> 00:23:53,840 Speaker 1: so we definitely want you to score a higher rate 537 00:23:53,920 --> 00:23:56,000 Speaker 1: on your savings, but only if you're doing business with 538 00:23:56,119 --> 00:24:00,119 Speaker 1: a bank. That is FDIC insured, that isn't running an 539 00:24:00,160 --> 00:24:03,400 Speaker 1: extremely risky real estate lending scheme. It makes me think 540 00:24:03,440 --> 00:24:06,119 Speaker 1: back to the stable coins. Those were so incredibly hot. 541 00:24:06,240 --> 00:24:08,600 Speaker 1: Well that's because they were offering something like eight to 542 00:24:08,680 --> 00:24:11,720 Speaker 1: nine percent just by saving your money, and everybody was like, oh, 543 00:24:11,760 --> 00:24:14,200 Speaker 1: I want in on this, Like why wouldn't you do that? Well, 544 00:24:14,480 --> 00:24:16,040 Speaker 1: I felt like we were raining on people's prede because 545 00:24:16,040 --> 00:24:16,960 Speaker 1: they're like, I want to go get that an eighth 546 00:24:17,040 --> 00:24:18,320 Speaker 1: nine percent, and we were like, that's a dumb idea. 547 00:24:18,359 --> 00:24:20,479 Speaker 1: You should avoid it. Yeah, and hopefully everyone learned their 548 00:24:20,520 --> 00:24:22,880 Speaker 1: lesson because a lot of those companies went belly up. 549 00:24:23,240 --> 00:24:25,320 Speaker 1: So if the interest rate on some of the different 550 00:24:25,320 --> 00:24:27,840 Speaker 1: offers that you're seeing out there is that much higher 551 00:24:28,119 --> 00:24:32,760 Speaker 1: than some of the solid online savings accounts and you've 552 00:24:32,800 --> 00:24:35,000 Speaker 1: never heard of them before, make sure that you perform 553 00:24:35,080 --> 00:24:38,000 Speaker 1: your due diligence first, because the truth is that the 554 00:24:38,000 --> 00:24:39,840 Speaker 1: best banks right now are they're somewhere in like the 555 00:24:39,880 --> 00:24:44,040 Speaker 1: four percent range c I. They are consistently near the top, 556 00:24:44,040 --> 00:24:46,639 Speaker 1: and they're currently sitting at four point zero five percent. 557 00:24:46,720 --> 00:24:48,600 Speaker 1: So if you see something lies like three point four, 558 00:24:48,640 --> 00:24:50,280 Speaker 1: but everybody's in that three and a half to four 559 00:24:50,320 --> 00:24:52,560 Speaker 1: percent rates the best ones are exactly. So someone's like, 560 00:24:52,800 --> 00:24:54,359 Speaker 1: I'll put you eight. You're like, okay, what do you 561 00:24:54,800 --> 00:24:56,199 Speaker 1: What in the world are you doing to try to 562 00:24:56,240 --> 00:24:58,680 Speaker 1: juice that return, because know that there's a catch. Yeah 563 00:24:58,720 --> 00:25:02,000 Speaker 1: it's yeah, it's not legit, it's not insured by the FDIC. Like, 564 00:25:02,040 --> 00:25:04,119 Speaker 1: could you make money in this account for a time, maybe, 565 00:25:04,160 --> 00:25:06,399 Speaker 1: but are you putting that savings at risk? Yes? And 566 00:25:06,480 --> 00:25:09,359 Speaker 1: there's a reason we talked about not investing your savings. 567 00:25:09,480 --> 00:25:11,560 Speaker 1: This is the money you want to have on hand, right, 568 00:25:11,560 --> 00:25:13,720 Speaker 1: I want you, we want you investing in your tax 569 00:25:13,720 --> 00:25:15,480 Speaker 1: advantage account, but we don't want you investing with money 570 00:25:15,520 --> 00:25:17,800 Speaker 1: that's supposed to be savings. All right, let's talk about 571 00:25:17,880 --> 00:25:20,000 Speaker 1: while we're talking about rates, Matt, let's talk about home 572 00:25:20,040 --> 00:25:22,760 Speaker 1: equity lines of credit. And a lot more homeowners are 573 00:25:22,800 --> 00:25:25,040 Speaker 1: tapping the equity that they've built up in their homes. 574 00:25:25,280 --> 00:25:27,240 Speaker 1: And so if you've owned a home for a few 575 00:25:27,320 --> 00:25:29,959 Speaker 1: years now, you likely have a decent chunk of equity 576 00:25:29,960 --> 00:25:32,080 Speaker 1: dollars that you could drap on and not to do 577 00:25:32,119 --> 00:25:34,280 Speaker 1: something with. And I think some people see that and 578 00:25:34,359 --> 00:25:37,200 Speaker 1: they're like, Okay, it's time to do something because I've 579 00:25:37,200 --> 00:25:39,520 Speaker 1: built up one hundred thousand dollars worth of equity. I 580 00:25:39,520 --> 00:25:41,760 Speaker 1: can't just let us sit there, right, can I? Well, 581 00:25:41,840 --> 00:25:44,200 Speaker 1: yes you can, and you probably should. Because a home 582 00:25:44,240 --> 00:25:46,840 Speaker 1: equity withdrawals are up close to forty seven percent over 583 00:25:46,840 --> 00:25:48,720 Speaker 1: the past year, a lot more people are tapping these 584 00:25:49,520 --> 00:25:51,520 Speaker 1: their lines of equity in order to grab some of 585 00:25:51,560 --> 00:25:53,960 Speaker 1: that cash. But interest rates are up a good bit too, 586 00:25:54,000 --> 00:25:56,560 Speaker 1: which makes that withdrawal a lot more costly. So we 587 00:25:56,560 --> 00:25:58,840 Speaker 1: would say, you know, taking out a moderate amount of 588 00:25:58,840 --> 00:26:01,960 Speaker 1: home equity it can make in certain cases, like reasonably 589 00:26:02,080 --> 00:26:04,960 Speaker 1: renovating making some changes to the house, but way the 590 00:26:04,960 --> 00:26:07,320 Speaker 1: pros and cons before you do, and knowing what your 591 00:26:07,320 --> 00:26:08,920 Speaker 1: timeline is going to be to pay that debt off 592 00:26:09,000 --> 00:26:11,120 Speaker 1: is a crucial place to start. Because if we're talking 593 00:26:11,160 --> 00:26:13,320 Speaker 1: about eight or nine or ten years to pay off 594 00:26:13,320 --> 00:26:15,719 Speaker 1: that whole echoity line of credit, that's too long. If 595 00:26:15,720 --> 00:26:18,200 Speaker 1: we're talking about just a few years to pay that back, 596 00:26:18,440 --> 00:26:20,760 Speaker 1: that's a different scenario. And so we're actually going to 597 00:26:20,800 --> 00:26:23,280 Speaker 1: talk about the value of debt in building wealth on Monday. 598 00:26:23,280 --> 00:26:25,560 Speaker 1: We're not completely against all forns been debt. Well, we're 599 00:26:25,560 --> 00:26:27,639 Speaker 1: going to do that with a guy who has written 600 00:26:27,680 --> 00:26:30,200 Speaker 1: multiple books on the subject. So I'm looking forward to 601 00:26:30,240 --> 00:26:31,800 Speaker 1: that combo. That's right, Yeah, you can look forward to 602 00:26:31,840 --> 00:26:34,280 Speaker 1: that episode here after the weekend, Joel. I saw a 603 00:26:34,280 --> 00:26:36,800 Speaker 1: stat this weekend that caused a pit to form on 604 00:26:36,880 --> 00:26:40,600 Speaker 1: my stomach. It turns out that workers are losing billions 605 00:26:40,800 --> 00:26:42,920 Speaker 1: of their own dollars that they could have used for 606 00:26:43,119 --> 00:26:47,040 Speaker 1: healthcare expenses because they forgot to use their FSA money. 607 00:26:47,040 --> 00:26:51,440 Speaker 1: They're flexible spending account money, money set aside for health expenses. 608 00:26:51,760 --> 00:26:54,359 Speaker 1: And that's especially demoralizing when we were just talking about 609 00:26:54,440 --> 00:26:57,399 Speaker 1: how the rising cost of healthcare, how that's nothing has 610 00:26:57,440 --> 00:27:01,080 Speaker 1: increased more than that. The Employee Benefit Research Institute they 611 00:27:01,160 --> 00:27:03,679 Speaker 1: release some data this week and it turns out that 612 00:27:03,760 --> 00:27:06,520 Speaker 1: forty eight percent of folks who stuck some of their 613 00:27:06,720 --> 00:27:10,800 Speaker 1: pre tax dollars from their employer into an FSA lost 614 00:27:10,840 --> 00:27:13,919 Speaker 1: at least some of those dollars. So that's almost half 615 00:27:13,960 --> 00:27:16,159 Speaker 1: of the folks who have an account, and the average 616 00:27:16,200 --> 00:27:19,440 Speaker 1: amount lost was over four hundred dollars is four hundred 617 00:27:19,440 --> 00:27:22,239 Speaker 1: and eight bucks. That is, that's not chump change, and 618 00:27:22,280 --> 00:27:25,280 Speaker 1: that means that each year Americans combine are losing somewhere 619 00:27:25,280 --> 00:27:29,000 Speaker 1: between three and four billion dollars total. So is the 620 00:27:29,040 --> 00:27:33,000 Speaker 1: takeaway that you should completely avoid an FSA if it's 621 00:27:33,040 --> 00:27:36,320 Speaker 1: offered by your employer, will know. I think FSAs can 622 00:27:36,359 --> 00:27:38,240 Speaker 1: make a lot of sense, but it does mean that 623 00:27:38,240 --> 00:27:39,880 Speaker 1: you've got to be careful and you need to make 624 00:27:39,880 --> 00:27:42,600 Speaker 1: sure that you are. That is just not something you're 625 00:27:42,600 --> 00:27:44,520 Speaker 1: forgetting about, because I think sometimes it can be a 626 00:27:44,520 --> 00:27:46,920 Speaker 1: benefit that's offered and you're like, oh sweet, I got 627 00:27:46,960 --> 00:27:49,240 Speaker 1: that there when the time comes, and when the time comes, 628 00:27:49,560 --> 00:27:51,119 Speaker 1: you forget about it. That's exactly right. I mean, I 629 00:27:51,240 --> 00:27:54,359 Speaker 1: like to avoid taxation on money that I'm getting paid 630 00:27:54,840 --> 00:27:57,000 Speaker 1: whenever and wherever I can, and FSAs allow you to 631 00:27:57,080 --> 00:27:58,720 Speaker 1: do that on money that you're going to spend for 632 00:27:58,760 --> 00:28:01,480 Speaker 1: dependent here or for healthcare. But here's the thing. You 633 00:28:01,560 --> 00:28:03,280 Speaker 1: got to use it or lose it. It's to use 634 00:28:03,320 --> 00:28:05,760 Speaker 1: it the year of or it's gone. Typically there's a 635 00:28:05,800 --> 00:28:07,639 Speaker 1: grace period and some of those dollars, at least a 636 00:28:07,680 --> 00:28:10,760 Speaker 1: percentage of them, can roll over until March of next year, 637 00:28:11,280 --> 00:28:13,040 Speaker 1: which is coming up. That deadline is coming up soon. 638 00:28:13,080 --> 00:28:16,040 Speaker 1: So you might have FSA dollars from twenty twenty two 639 00:28:16,280 --> 00:28:18,480 Speaker 1: that you can still use, but not for much longer. 640 00:28:18,520 --> 00:28:20,440 Speaker 1: And so if you do, it's this is like kind 641 00:28:20,480 --> 00:28:22,760 Speaker 1: of a warning, make sure to go in there, make 642 00:28:22,800 --> 00:28:24,879 Speaker 1: sure you're using that money. And if you don't have 643 00:28:24,920 --> 00:28:28,600 Speaker 1: some sort of like dermatologists visit or expensive surgery coming up, 644 00:28:28,640 --> 00:28:30,280 Speaker 1: that's okay. There are other ways that you can at 645 00:28:30,320 --> 00:28:32,720 Speaker 1: least make sure that you're using this money that it 646 00:28:32,760 --> 00:28:35,159 Speaker 1: can be spent on FSA eligible items. Will link to 647 00:28:35,200 --> 00:28:36,920 Speaker 1: a couple of places in the show notes where you 648 00:28:36,920 --> 00:28:39,880 Speaker 1: can kind of see what items are eligible to be 649 00:28:39,920 --> 00:28:42,840 Speaker 1: spent on FSA money. And the Amazon even has like 650 00:28:43,200 --> 00:28:45,880 Speaker 1: a dedicated FSA store. So if you're like, oh, I've 651 00:28:45,880 --> 00:28:49,080 Speaker 1: got four hundred bucks, like the average person that's just 652 00:28:49,240 --> 00:28:52,640 Speaker 1: literally about to vaporize, then we would say, you know, 653 00:28:52,680 --> 00:28:55,080 Speaker 1: go to that Amazon FSA store, spend that money on 654 00:28:55,120 --> 00:28:58,000 Speaker 1: things that are eligible, just so that you're getting something, 655 00:28:58,080 --> 00:29:00,240 Speaker 1: some sort of return for your money. And then next 656 00:29:00,240 --> 00:29:02,840 Speaker 1: time your next open enrollment, you might want to consider 657 00:29:02,880 --> 00:29:05,440 Speaker 1: allocating less money to it, just to make sure that 658 00:29:05,480 --> 00:29:07,720 Speaker 1: you're using all the money you stick aside, like it 659 00:29:08,320 --> 00:29:11,240 Speaker 1: stinks to be taxed on money that you did spend 660 00:29:11,280 --> 00:29:13,600 Speaker 1: on healthcare when you could have avoided it. But what's worse, 661 00:29:13,640 --> 00:29:16,280 Speaker 1: I would say, is completely losing that money. Can again 662 00:29:16,440 --> 00:29:18,640 Speaker 1: flushing the money down the toilet. Yeah. Yeah, And this 663 00:29:18,720 --> 00:29:21,720 Speaker 1: is an argument for budgeting, or at least tracking your expenses, 664 00:29:21,720 --> 00:29:23,000 Speaker 1: because I think a lot of folks are going to 665 00:29:23,080 --> 00:29:24,960 Speaker 1: hear you say that and they're thinking, well, I don't know, Like, 666 00:29:24,960 --> 00:29:26,239 Speaker 1: how the heck am I supposed to know how much 667 00:29:26,240 --> 00:29:28,400 Speaker 1: I spent on healthcare last year? Well? Guess what if 668 00:29:28,440 --> 00:29:31,200 Speaker 1: you tracked your expenses, Like if you were to asking 669 00:29:31,200 --> 00:29:32,800 Speaker 1: you right now, Matt, how much did you spend on 670 00:29:32,800 --> 00:29:34,960 Speaker 1: healthcare last year? I've got no clue, but I could 671 00:29:35,000 --> 00:29:37,360 Speaker 1: take thirty seconds and look at my spreadsheet from last 672 00:29:37,440 --> 00:29:39,320 Speaker 1: year and be like blah blah, blah blah and just 673 00:29:39,320 --> 00:29:41,360 Speaker 1: punch that in. And so I don't. I'm just making 674 00:29:41,400 --> 00:29:44,240 Speaker 1: an argument for at the very least tracking your expenses 675 00:29:44,320 --> 00:29:46,480 Speaker 1: and planning ahead too, because you can say, hey, listen, 676 00:29:46,520 --> 00:29:48,200 Speaker 1: this how much I spent last year, But I know 677 00:29:48,800 --> 00:29:51,280 Speaker 1: that I'm going to need new classes, I know I'm 678 00:29:51,320 --> 00:29:52,880 Speaker 1: going to need this, this and that, and so you 679 00:29:52,920 --> 00:29:55,440 Speaker 1: can say I'm likely to spend more actually this coming year, 680 00:29:55,560 --> 00:29:57,520 Speaker 1: and so you can allocate another, you know, four or 681 00:29:57,520 --> 00:30:01,040 Speaker 1: five hundred dollars based on the healthcare procedures you plan 682 00:30:01,600 --> 00:30:04,080 Speaker 1: on take. And obviously you can't plan for everything, but 683 00:30:04,320 --> 00:30:06,920 Speaker 1: don't stick too much money in your FSA to where 684 00:30:07,240 --> 00:30:09,640 Speaker 1: some of us just gonna go completely could put. That's right, man. 685 00:30:09,680 --> 00:30:11,640 Speaker 1: But before we wrap up this episode, we've got our 686 00:30:11,680 --> 00:30:14,640 Speaker 1: newsletter a referral shout out to take care of here. 687 00:30:14,800 --> 00:30:19,120 Speaker 1: And this past week, Daniel b he referred our newsletter 688 00:30:19,160 --> 00:30:20,840 Speaker 1: out to at least three of his friends. I think 689 00:30:20,840 --> 00:30:22,480 Speaker 1: I saw that a couple more of his friends, which 690 00:30:22,480 --> 00:30:26,920 Speaker 1: means Daniel be the man. But just a reminder, if 691 00:30:27,120 --> 00:30:29,040 Speaker 1: you have not yet signed up for the newsletter, head 692 00:30:29,080 --> 00:30:32,600 Speaker 1: to Howtomoney dot com forward slash newsletter. Every Tuesday morning, 693 00:30:32,600 --> 00:30:36,520 Speaker 1: we send out an incredible newsletter centered around your personal finances. 694 00:30:36,880 --> 00:30:39,000 Speaker 1: We cover a lot of the great stories that you 695 00:30:39,040 --> 00:30:41,200 Speaker 1: need to make sure that you're not missing. And built 696 00:30:41,240 --> 00:30:44,560 Speaker 1: into that newsletter is a trackable referral program. And when 697 00:30:44,600 --> 00:30:47,040 Speaker 1: you refer some friends, you are able to earn some 698 00:30:47,080 --> 00:30:50,120 Speaker 1: different rewards. So like that's either a shout out like 699 00:30:50,160 --> 00:30:52,960 Speaker 1: we are doing right now, a beer on us the 700 00:30:53,160 --> 00:30:56,040 Speaker 1: coveted how to money socks, and I'll say as well, 701 00:30:56,040 --> 00:30:58,040 Speaker 1: I noticed that there are a lot of folks that 702 00:30:58,120 --> 00:31:00,000 Speaker 1: have one or two referrals, So I just want to 703 00:31:00,040 --> 00:31:02,600 Speaker 1: encourage all you folks out there who are so close 704 00:31:02,760 --> 00:31:05,400 Speaker 1: to hitting that that first tier, that first reward. And 705 00:31:05,400 --> 00:31:08,200 Speaker 1: by the way, Joel, happy birthday. This is it is 706 00:31:08,360 --> 00:31:11,760 Speaker 1: your birthday today. And I'll say that I'm pretty sure 707 00:31:12,000 --> 00:31:14,320 Speaker 1: all Joel wants for his birthday is more folks to 708 00:31:14,360 --> 00:31:16,880 Speaker 1: sign up for the newsplay. Yeah, makee my birthday a 709 00:31:16,920 --> 00:31:18,640 Speaker 1: good one and do what you're supposed to do by 710 00:31:18,680 --> 00:31:20,720 Speaker 1: signing up for that newsletter. But yeah, no, it's gonna 711 00:31:20,720 --> 00:31:22,520 Speaker 1: be good. I'm like, honestly, my mother in law she 712 00:31:22,520 --> 00:31:23,720 Speaker 1: asked me, like, what do you want for your birthday? 713 00:31:23,720 --> 00:31:25,440 Speaker 1: And I was like, literally, just to be with people 714 00:31:25,440 --> 00:31:27,240 Speaker 1: I care about, like to hang out with friends and stuff, 715 00:31:27,240 --> 00:31:29,360 Speaker 1: which I'm gonna get to do tonight. You drink some 716 00:31:29,400 --> 00:31:31,120 Speaker 1: beers with some paths I haven't seen in a minute, 717 00:31:31,160 --> 00:31:32,600 Speaker 1: and play some disc off this weekend with you and 718 00:31:32,600 --> 00:31:34,680 Speaker 1: some other dude. So yeah, it's like, that's that to 719 00:31:34,720 --> 00:31:36,120 Speaker 1: me is what makes me happy. Who I don't need 720 00:31:36,160 --> 00:31:37,640 Speaker 1: more stuff? So there you go. All right, Well that's 721 00:31:37,640 --> 00:31:40,160 Speaker 1: gonna do it for this edition of The Friday Flight 722 00:31:40,440 --> 00:31:42,840 Speaker 1: and for this episode, Matt. We'll be back here on 723 00:31:42,880 --> 00:31:45,520 Speaker 1: Monday with that fun conversation about using debt to your 724 00:31:45,560 --> 00:31:48,480 Speaker 1: advantage when it comes to building wealth, but until next time, 725 00:31:48,640 --> 00:32:02,200 Speaker 1: best friends out, best friends out,