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Speaker 1: Welcome to How the Money. I'm Joel and I'm Matt,

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Speaker 1: and today we're discussing why fees are the worst and

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Speaker 1: how to avoid them. They're the worst, Yeah, Joel, fees man,

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Speaker 1: they are truly at the worst. We're gonna talk about

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Speaker 1: why they are the worst. We're gonna talk through some

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Speaker 1: of the different fees that we often get suckered into paying,

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Speaker 1: and then we're gonna round the show outs by discussing

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Speaker 1: some of the different ways that we can make sure

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Speaker 1: to avoid paying those fees in our lives. I like it,

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Speaker 1: all right, but something else. It stinks almost as much

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Speaker 1: as fees. Student loans, all right, let's talk about that.

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Speaker 1: Those are also pretty terrible. It's so bad. And there's

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Speaker 1: this new Ashton Kutcher series, Matt. I don't know if

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Speaker 1: you've seen it or heard about it. I mean, you

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Speaker 1: say Ashton Kulcher. He's not in the show right right now,

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Speaker 1: but he like produced it or helped fund it or whatever.

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Speaker 1: It's part of it. Yeah, he's part He's part of

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Speaker 1: the creation of this show called Going from Broke. And

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Speaker 1: I was gonna like tease that we were going to

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Speaker 1: have Ashton on the show or something, but I can't

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Speaker 1: even do that with a straight face. I wish that

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Speaker 1: would be kind of cool, but it's not gonna happen.

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Speaker 1: Well with all the movie business in Atlanta, yali Wood

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Speaker 1: as they call it, Ashton Kutcher has actually been in

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Speaker 1: our neighborhood, that's true. Did you get a story about

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Speaker 1: him at our local ballet studio? I did. All the

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Speaker 1: moms in there, We're taking their daughters and sons to

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Speaker 1: ballet class, were like, what I freaking up in the

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Speaker 1: neighborhod Ballet studio there as a dad, you know, with

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Speaker 1: his kid. Yeah. Yeah. So. But he also has created

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Speaker 1: this show, Going From Broke, and it's about these two

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Speaker 1: financial experts are going in to help people who are

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Speaker 1: just way down with student loans. And so I wanted

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Speaker 1: to mention too an interesting thing. You can watch the

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Speaker 1: series for free on Sony's Crackle service, which is a

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Speaker 1: service where you can watch stuff freak. So Going from

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Speaker 1: Broke you can watch it without having any sort of

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Speaker 1: paid subscription. And when I heard about this and I

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Speaker 1: saw that there's a new series where these financial experts

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Speaker 1: are going through to help people overwhelmed the student loans,

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Speaker 1: it kind of surprised me. That that was something that

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Speaker 1: people wanted to watch on TV, but also at the

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Speaker 1: same time it kind of brought to the forefront that Wow,

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Speaker 1: I mean, I know that this is a problem. I

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Speaker 1: know that this is just a huge issue right in

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Speaker 1: our day and age. Like I feel like it's a

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Speaker 1: headline piece constantly about how much there is in student

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Speaker 1: loan debt, specific cases of people being overwhelmed, it being

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Speaker 1: hard to find, uh, student loan forgiveness and so, yeah,

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Speaker 1: this show is obviously of interest. It's it's of interest

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Speaker 1: to people to see how it's affecting other people, but

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Speaker 1: at the same time, hopefully get some tips and tricks

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Speaker 1: from this show on how to tackle their student loans. Yeah.

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Speaker 1: I mean, and they're not only just talking about student

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Speaker 1: loans and how that is affecting our generation, right, but

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Speaker 1: I mean they're they're broadly speaking to just personal finance

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Speaker 1: in general, how we can often make poor decisions when

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Speaker 1: it comes to what we do with our money. And

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Speaker 1: it's just really interesting too that just personal finance in

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Speaker 1: general is it's kind of taking the spotlight rights. It's

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Speaker 1: center stage, and people want to see how other people

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Speaker 1: are spending their money and how you know, they're doing

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Speaker 1: poor things with their money. But at the same time,

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Speaker 1: hopefully they are able to watch the shows and learn something, uh,

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Speaker 1: learn something to actually help them in their current situation,

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Speaker 1: sort of like we do on this show. You know,

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Speaker 1: we're not just two guys talking here. We're hoping to

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Speaker 1: actually improve your financial life. If this is you right

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Speaker 1: now listening to this podcast, yeah, you're listening because you

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Speaker 1: want your finances to look different, whether you're doing well,

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Speaker 1: and you want like little ways to help you get

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Speaker 1: further and do even better and invest more wisely or

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Speaker 1: cut back on expenses or stop paying needless fees right

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Speaker 1: whatever it is, or you're just kind of on the

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Speaker 1: beginning path and you're kind of figuring out what some

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Speaker 1: of these terms mean, and you want to get started

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Speaker 1: and just become a little bit better at making decisions

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Speaker 1: to kind of get you started in being decent with

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Speaker 1: personal finances. I mean, I think whatever position you're in

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Speaker 1: while you're listening, we want to to help you wherever

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Speaker 1: you are. And Matt on that no of student loans

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Speaker 1: and that show kind of really tackles that in a

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Speaker 1: big way. Well, I wanted to mention that student loan

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Speaker 1: refinance rates are super low right now. As the FED

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Speaker 1: has been cutting interest rates, well, guess what's dropped student

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Speaker 1: loan refinancing rates, And so a lot of our listeners

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Speaker 1: might qualify for a lower rate on a student loan.

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Speaker 1: And speaking of our topic today, fees, well, there are

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Speaker 1: no fees associated with refinancing your student loans with reputable lenders,

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Speaker 1: so it's worth checking out. And we have an article

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Speaker 1: on our site where our student loan expert Megan she

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Speaker 1: wrote about refinancing your student loan and when it makes sense,

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Speaker 1: and so we'll post that in the show notes as well.

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Speaker 1: But I just want to put that on people's radar.

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Speaker 1: If you are burdened by your student loan payments and

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Speaker 1: you're looking to potentially pay them off more quickly at

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Speaker 1: a lower interest rate, well, refinancing in this current low

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Speaker 1: interest rate environment might make sense for you. Yeah, while

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Speaker 1: it sucks to actually have a ton of student loans,

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Speaker 1: I think it's awesome that you can refinance for free.

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Speaker 1: Unlike refinancing a mortgage on a home, which costs a

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Speaker 1: ton of money, a lot of money, that is not

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Speaker 1: the case for student loans. That's true. And Joel real

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Speaker 1: quick before we launched into talking about fees. Let's introduce

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Speaker 1: our beer for this episode, which is Bourbon Barrel Dark

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Speaker 1: Apparition and this is by Jackie Ohs out of Ohio. Joel,

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Speaker 1: this is one intimidating label right here. It is. I'm

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Speaker 1: looking forward to sharing this one with you and talking

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Speaker 1: about it at the end of the episode thanks to

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Speaker 1: Art and Mackenzie all the lovely folks up there at

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Speaker 1: that brewery. Yeah man, they sent us some good beers.

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Speaker 1: Really excited to have this one on the show with you.

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Speaker 1: All right, but let's get to the topic of hand

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Speaker 1: for this episode, Matt, fees are the worst, but then

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Speaker 1: we also have to talk about how to avoid them.

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Speaker 1: Fees are, of course a major pain in our lives.

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Speaker 1: They pop up everywhere, and Matt, we recently talked about

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Speaker 1: saving money on lodging while traveling. We discussed the annoyance

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Speaker 1: that urban fees and resort fees, all these kind of

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Speaker 1: strange and interesting fees that hotels are starting to build

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Speaker 1: into their pricing, that they seem to be popping up

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Speaker 1: all over the place and randomly, and a lot more

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Speaker 1: so recently, what parking fees and WiFi fees abound too.

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Speaker 1: When we're booking hotels. But fees are prominent across our

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Speaker 1: higher financial lives now, and we have to be aware

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Speaker 1: of how and when we encounter them so we can

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Speaker 1: be vigilant and intentional to avoid these fees whenever possible. Yeah,

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Speaker 1: when we also specifically talked about fees in regards to

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Speaker 1: your retirement accounts, paying a commission to a broker for

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Speaker 1: an actively managed fund and paying sky high fund expenses

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Speaker 1: that'll eat away at your wealth substantially. If you want

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Speaker 1: to know more about that, you can go back and

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Speaker 1: check out episode ninety one. But today we'll be covering

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Speaker 1: other fees that we encounter around us in our day

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Speaker 1: to day lives. Yeah, fees are prevalent. They're everywhere, right,

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Speaker 1: There's cancelation fees, administrative charges, resort fees. Like we mentioned,

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Speaker 1: fees have all sorts of different lingo ascribed to them

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Speaker 1: in an attempt to lessen their blow, but they're pervasive nonetheless. Right.

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Speaker 1: Ticketmaster charges up to thirty seven percent of the face

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Speaker 1: value of a ticket in fees. And it's not just one,

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Speaker 1: it's multiple, including fees to print your tickets at home.

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Speaker 1: They charge you money to use your own printer. And

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Speaker 1: I know, I mean I don't think I am gonna

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Speaker 1: have trouble finding other people out there listening that have

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Speaker 1: had a terrible run in with Ticketmaster. Right. Also, don't

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Speaker 1: think Ticketmaster is going to advertise on our podcast. Probably

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Speaker 1: not so. Yeah, the fees for Ticketmaster are just incredible,

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Speaker 1: and I think Live Nation too. Right, there's these companies

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Speaker 1: out there selling tickets, charging exorbitant fees and just annoying

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Speaker 1: us all to death in the process. In airlines, it

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Speaker 1: turns out Matt last year made seven point eight billion

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Speaker 1: dollars on fees alone. So that's not including the price

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Speaker 1: of airfare, that's not including the other ways they make money.

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Speaker 1: It's literally just the fees that they charge for getting

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Speaker 1: an assigned seat now or for wanting to be able

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Speaker 1: to sit next to your wife or your family. There

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Speaker 1: are all these fees that were charged now by the airlines,

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Speaker 1: and they're racking up by charging us massive fees all

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Speaker 1: the time. They're not alone, but man, they are definitely

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Speaker 1: one of the major culprits. And these fees they span

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Speaker 1: lots of different industries. They are incredibly prevalent and fees, man,

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Speaker 1: they are also really sneaky. One of the reasons that

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Speaker 1: fees are becoming more ubiquitous is because our shopping behavior

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Speaker 1: makes us susceptible to them. Right. A study of StubHub

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Speaker 1: fees showed that consumers spent more if they weren't shown

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Speaker 1: the fees until the end of the purchase. Right. Doesn't

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Speaker 1: that sound sort of like the amount that ticket Master

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Speaker 1: or StubHub charges in addition to what the actual ticket costs.

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Speaker 1: Sounds kind of familiar, buddy. Maybe they're like buddies talking

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Speaker 1: on the phone. Who knows. It's like, hey, you're in

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Speaker 1: a charge this year. But basically we get frustrated and

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Speaker 1: we're at the end of that entire process, and we

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Speaker 1: still click by because we've already kind of committed that

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Speaker 1: time to that purchase, and you probably still want to

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Speaker 1: go to the concert. You have to use a poker term,

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Speaker 1: your pot committed at that point, Right, You've gone through

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Speaker 1: the whole process, you've got them in the cart, and

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Speaker 1: then you see the fees and you just breathe that

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Speaker 1: angry sigh that you know what they've done it to

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Speaker 1: me again, I guess I'm paying indeed, Man, Yeah, it's

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Speaker 1: that bait and switch. But here's the thing. If it

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Speaker 1: had been price youre upfront on the friend end, before

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Speaker 1: we had committed to that purchase, I think there's a

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Speaker 1: chance that we would leave immediately. Makes me think of

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Speaker 1: the frog in boiling water analogy, right, Like, if that

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Speaker 1: frog would have gotten in at the very beginning and

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Speaker 1: it was boiling, frog would have hopped out. He's like, hey,

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Speaker 1: no idiot, I'm even I'm not paying for those tickets.

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Speaker 1: But because we're committed by that point, right, Like, we've

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Speaker 1: already spent five minutes clicking on squares with stop signs

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Speaker 1: in them, and you know, we know we like we

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Speaker 1: can picture ourselves at that concert, or we can picture

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Speaker 1: ourselves like at that soccer match we proved our humanity

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Speaker 1: to the capture robotic machine exactly, Like, I'm not turning

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Speaker 1: back at this point. I'm gonna do it. But that's

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Speaker 1: just another example of us sort of getting worn down

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Speaker 1: by paying these ridiculous fees. I think when they kind

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Speaker 1: of do the bait and switch like that at the

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Speaker 1: very end, that is just one of the absolute worst

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Speaker 1: ways to experience fees, when different companies pulling over on

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Speaker 1: you like that, right, and when there's not that price transparency. Yeah, Matt,

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Speaker 1: And even as we've become accustomed to seeing more fees

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Speaker 1: in our lives. Well, there are still ways that we

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Speaker 1: can mount a legitimate opposition to encroaching fees that we

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Speaker 1: see that pop up, and it's your money, it's my money, right,

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Speaker 1: what are we going to do about it? Though? There

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Speaker 1: are actual steps that we can take to lessen the

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Speaker 1: impact of fees in our life and to avoid paying fees.

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Speaker 1: And so we've got some really important steps for you

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Speaker 1: to to implement into your life in order to pay

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Speaker 1: fewer fees. But first we're gonna talk about some of

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Speaker 1: the most egregious feast and how to combat those right

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Speaker 1: after the break. All right, Joe, we are back from

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Speaker 1: the break. We're here to talk about why fees, why

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Speaker 1: they totally suck man, And let's go ahead now and

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Speaker 1: discuss some the most prominent fees that you'll likely encounter

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Speaker 1: and how you can never pay them. Let's first talk

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Speaker 1: about overdraft fees. This is probably the most egregious fee

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Speaker 1: that's out there. This is when a three dollar coffee

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Speaker 1: could actually cost you thirty five or forty bucks. Since

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Speaker 1: the average overdraft fee is thirty three dollars and thirty

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Speaker 1: six cents, Americans paid thirty four billion dollars with a

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Speaker 1: B not Yeah, thirty four billion dollars in overdraft fees

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Speaker 1: a couple of years ago. That is just an insane

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Speaker 1: amount of money going to the banks. Man. This is

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Speaker 1: part of the reason why we prefer not to use

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Speaker 1: a debit card at all, and instead we prefer credit cards.

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Speaker 1: But you can avoid these fees by opting out of

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Speaker 1: your bank overdraft protection service. Just make sure that you

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Speaker 1: are aware that oftentimes they can use tricky language to

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Speaker 1: try to get you to sign up to protect your money. Yeah,

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Speaker 1: they try to make an opt out look like an

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Speaker 1: opt in or vice versa. They try to make it

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Speaker 1: seem like the overdraft protection services is what you want,

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Speaker 1: but that's not what you want. You prefer for your

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Speaker 1: debit card to get declined in a situation where you

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Speaker 1: didn't have the funds to cover the purchase, because that

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Speaker 1: would avoid that pesky overdraft fee. And if you don't

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Speaker 1: even realize that you're doing it, you might purchase four

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Speaker 1: or five six things that day and you could rack

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Speaker 1: up a hundred fifty a hundred and eighty dollars in

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Speaker 1: overdraft fees in just a day or two of not

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Speaker 1: realizing that your balance was low. That's a lot of beer. Yeah,

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Speaker 1: if you're making that many beer purchases, right, Yeah, that's

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Speaker 1: expensive beer too. We like expensive beer, but not expensive

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Speaker 1: beer in the form where you're paying fees exactly. Another

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Speaker 1: really pesky fee that you're going to encounter that's really

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Speaker 1: prominent are a t M fees. Well, I mean, honestly,

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Speaker 1: how often are we using a t MC these days?

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Speaker 1: I feel like it's something that is far less relevant

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Speaker 1: in our lives. There's more, it's so much easier for

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Speaker 1: us to pay with our credit cards or with even

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Speaker 1: mobile payments. But if you do like to hit up

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Speaker 1: the a t M from time to time, we'll do

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Speaker 1: business with a bank that reimburses a t M fees.

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Speaker 1: A lot of banks have networks of free machines that

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Speaker 1: you can use online. Banks in particular often have access

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Speaker 1: to like the All point Network of a t M

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Speaker 1: s that are available at most cvous and target stores.

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Speaker 1: And like with Ally, you can use any a t M,

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Speaker 1: but they'll only reimburse up the ten bucks of a

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Speaker 1: t M search charges every month. Yeah, it's limited, right, Joel.

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Speaker 1: I use Ally, and so if I need some cash,

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Speaker 1: make sure to make it raine hundreds of dollars at once,

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Speaker 1: why not just to avoid that fee, or instead you

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Speaker 1: can go with a Schwab because they reimburse all of

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Speaker 1: your a t M fees, which is fantastic. Yeah, And sometimes,

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Speaker 1: like when you're using an a t M, interestingly enough,

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Speaker 1: there can be two charges. There can be a charge

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Speaker 1: that your bank imposes on you, and then there can

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Speaker 1: be a third party a t M fee depending on

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Speaker 1: what it Like, if you're at some bar in a

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Speaker 1: hole in the wall in the middle of nowhere, there's

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Speaker 1: in all likelihood gonna be like a six dollar search

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Speaker 1: arge or something on that a t M for you

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Speaker 1: to pull money out, or if you're in Vegas, it

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Speaker 1: could be like twenty bucks. Yeah, it could be insane, seriously,

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Speaker 1: And and one of the banks that actually kind of

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Speaker 1: started it all with reimbursing those third party search charges

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Speaker 1: as well when it comes to a t M fees

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Speaker 1: is Charles Schwab. So yeah, they're a great bank. If

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Speaker 1: you do a lot of a t M withdrawals kind

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Speaker 1: of all over the place, particularly in Vegas, and you

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Speaker 1: want to say about a lot of money, well, Schwab

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Speaker 1: Bank is definitely a good one for you to consider,

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Speaker 1: all right, Matt. And another prominent fee that a lot

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Speaker 1: of people pay is monthly account fees for banking. So yeah,

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Speaker 1: these first ones we mentioned all have to do with

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Speaker 1: banks charging you excess fees. And man, they are they

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Speaker 1: become wizards essentially at charging people fees. They're really really

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Speaker 1: good at it, in particularly the big banks. They love

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Speaker 1: to charge fees and that's how they make their money. Well,

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Speaker 1: so what would we say to someone paying monthly account

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Speaker 1: fees every month? Stop doing business with the bank that

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Speaker 1: stinks and is looking to nickel and dime you every

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Speaker 1: chance they get. Go to a bank that doesn't charge

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Speaker 1: fees for low balances. We think the best place to

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Speaker 1: turn for your banking needs are online banks. We like

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Speaker 1: credit unions a lot, but in particular for banking services

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Speaker 1: and checking and savings accounts. Online banks have the best

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Speaker 1: offerings for a lot of reasons. And yeah, a few

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Speaker 1: of our favorites, as we mentioned often our discover Ally

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Speaker 1: and c I T. So open up a new account

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Speaker 1: and if you're paying five, seven, twelve dollars a month

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Speaker 1: whatever you're paying to have a checking account with a bank,

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Speaker 1: stop and get a new one somewhere else. Because those

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Speaker 1: fees out up. You're talking about a hundred hundred, thirty

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Speaker 1: hundred and fifty bucks a year just for the privilege

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Speaker 1: of doing business with that bank, and at the same time,

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Speaker 1: they're paying you nothing on your money. Get rid of

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Speaker 1: that bank and find a new one, a bank that's

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Speaker 1: gonna respect you and not charge you ridiculous fees like that.

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Speaker 1: So Joel, quick little confession. I am actually still doing

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Speaker 1: business with one of those big banks to charge a

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Speaker 1: monthly account maintenance fee, specifically if my average monthly balanced

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Speaker 1: in my business checking account, if it dips below if

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Speaker 1: I founder bucks, it's pretty lame. Huh yeah, man, all right,

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Speaker 1: can we change that this week? Yeah? Well, here's the

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Speaker 1: thing is that it actually gets even worse because they

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Speaker 1: also charge if my personal checking account dips below hundred dollars,

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Speaker 1: which is a pretty large threshold. That's a total of

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Speaker 1: two thousand dollars that is sitting there that is doing

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Speaker 1: nothing for me. I have to admit I'm a little ashamed.

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Speaker 1: All right, well you're forgiven, But but I would say, yeah,

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Speaker 1: like just like anybody else listening who is doing business

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Speaker 1: with a bank that is setting up these artificial thresholds,

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Speaker 1: of what you need to make to avoid fees. Honestly,

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Speaker 1: sometimes it's hard to remember, or you spend a little

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Speaker 1: too much out of that account and then you get

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Speaker 1: charged the fee. It's really frustrating, it's really annoying. So

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Speaker 1: I would just prioritize doing business with a bank that

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Speaker 1: doesn't have those just kind of ridiculous arbitrary numbers of

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Speaker 1: a required minimum balance that you have to meet every month.

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Speaker 1: Just make it easier and just go with a bank

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Speaker 1: that doesn't charge those stupid pesky fees. Yeah. Man, for

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Speaker 1: me though, Like the reason I've kept that account around

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Speaker 1: is because I've always thought I needed to have a local,

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Speaker 1: convenient bank to be able to make some of those

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Speaker 1: cash deposits that I received from time to time. You know,

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Speaker 1: like sometimes you want to sell something on the neighborhood

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Speaker 1: yard sale site and they don't pay you in via

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Speaker 1: Venmo or cash app. They pay you in actual hard cash.

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Speaker 1: But the fact is, like you don't really need to

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Speaker 1: deposit that money, Like you can have that money go

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Speaker 1: towards your groceries that month, or you can you know,

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Speaker 1: take that money to the restaurant. I guess that's what

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Speaker 1: I'm saying at this point is I want to commit

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Speaker 1: to closing that account and by the time this episode

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Speaker 1: airs and I'll be doing smarter things with my money. Yeah.

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Speaker 1: Right now it's kind of being held hostage, but you

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Speaker 1: know what, it leaves a good way to think about it. Yeah,

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Speaker 1: but at least you're avoiding the fees, right. I think

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Speaker 1: if people know the threshold they have to hit and

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Speaker 1: they want to do business with a certain bank that

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Speaker 1: does charge fees like that, but has these thresholds, it's

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Speaker 1: okay to do business with that bank. If you have

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Speaker 1: a long standing relationship, or if you feel like the

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Speaker 1: benefits that you get for meeting a minimum required balance

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Speaker 1: are worth it, then it's okay to do that, I think.

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Speaker 1: But just make sure you know what you're doing so

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Speaker 1: that you can avoid those fees, because it's ultimately those

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Speaker 1: fees that you don't want to pay. You don't want

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Speaker 1: to be paying ten, twelve whatever bucks a month for

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Speaker 1: the account for the privilege of doing business When banks

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Speaker 1: all across the country, really really good banks want your

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Speaker 1: business and don't want to make you pay in order

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Speaker 1: to have an account with them. That's what you want

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Speaker 1: to avoid more than anything else. And Jel not only

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Speaker 1: are they not charging you to do business with them,

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Speaker 1: but they're paying you. Right, all the greats online banks

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Speaker 1: that we are fans of, they are paying substantially more

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Speaker 1: on their high interest savings accounts. It comes out to

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Speaker 1: about two hundred times more every single year. Yeah, that's

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Speaker 1: big money. All right. Let's talk about another prominent fee,

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Speaker 1: pesky fee that you'll encounter that you can avoid, and

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Speaker 1: that's a foreign transaction fee. And these foreign transaction fees,

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Speaker 1: they've actually become a little bit easier to avoid overtime,

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Speaker 1: not nearly as many credit card issuers charge a three

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Speaker 1: percent fee that kind of used to be the standard.

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Speaker 1: If you go overseas, your credit card issue or was

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Speaker 1: going to charge you roughly three for the privilege of

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Speaker 1: using that card overseas well. Make sure you check the

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Speaker 1: fine print on your cards. But cards like Capital One's Venture, Chase,

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Speaker 1: Sapphire Preferred and all of Discovers cards, they don't charge

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Speaker 1: that foreign transaction fee. And you can check out what

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Speaker 1: cards are our favorites at how to money dot com.

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Speaker 1: Slash credit cards. But really, if you do a decent

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Speaker 1: bit of international travel, prioritizing a card that doesn't have

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Speaker 1: any sort of foreign transaction fee. Well, that's going to

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Speaker 1: save you a good bit of money over time as

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Speaker 1: you are traveling overseas and making purchases are jell. Another

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Speaker 1: instance where you might be paying a fee every single

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Speaker 1: month is when it comes to your utilities. Oftentimes you'll

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Speaker 1: be charged three percent or more to pay your water

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Speaker 1: or electric bill online with a credit card. This can

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Speaker 1: be really frustrating to not be able to use a

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Speaker 1: card when otherwise you know that you could be earning

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Speaker 1: cash back for those payments. You know, I try to

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Speaker 1: put everything on my credit card and then pay them

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Speaker 1: off at the end of the month, of course, but

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Speaker 1: you know in this case you want to opt to

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Speaker 1: pay with your checking account instead to avoid this unnecessary

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Speaker 1: fee altogether. This is an instance where these utility companies

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00:19:08,720 --> 00:19:11,640
Speaker 1: are essentially kind of passing that expense that they would

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Speaker 1: incur from the credit card companies by accepting your card

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Speaker 1: to you as the customer. Nestings, Yeah, I mean yeah.

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Speaker 1: Typically it's built in, like anytime you buy something with

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Speaker 1: a credit card from a merchant, they're essentially instead of

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Speaker 1: charging that fee directly, it's kind of built into the

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Speaker 1: cost of doing business. But when it comes to uh

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Speaker 1: in particular with utility companies, they kind of put it

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Speaker 1: out there as you know what, we're going to charge

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Speaker 1: you for this, and in that case, I would do

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Speaker 1: whatever I could to avoid it. All Right, late fees.

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Speaker 1: Here's another thing. This one is on us, right when

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Speaker 1: we have a late fee from a credit card company

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Speaker 1: for not even paying at minimum that minimum balance on time.

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Speaker 1: So we would say, set up calendar reminders or automatic

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Speaker 1: payments to avoid paying this fee. Yeah, Juel, And you know,

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Speaker 1: in the history of like me using credit cards, this

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Speaker 1: is a fee that I've and hit with just a

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Speaker 1: couple of times. And in both instances it was with

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Speaker 1: a new credit card that had been using that had

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Speaker 1: a do date that was different than the other cards

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Speaker 1: I was using, right, and those other cards I'm used

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Speaker 1: to just paying at the beginning of the month, but

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Speaker 1: with the new card it was just on a different cycle,

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Speaker 1: on a different building cycle. So if you're in a

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00:20:16,640 --> 00:20:18,200
Speaker 1: similar boat, one of the things you can do you

430
00:20:18,240 --> 00:20:21,159
Speaker 1: can actually change the statement end date so that it

431
00:20:21,240 --> 00:20:24,000
Speaker 1: coincides with your other cards to make it easier for you.

432
00:20:24,480 --> 00:20:26,200
Speaker 1: This is what I do now now that I've learned

433
00:20:26,240 --> 00:20:28,520
Speaker 1: my lesson right, and I will say in both instances

434
00:20:28,560 --> 00:20:30,879
Speaker 1: I was able to reverse those charges. We'll kind of

435
00:20:30,880 --> 00:20:32,879
Speaker 1: get to that later in the episode. But setting up

436
00:20:32,880 --> 00:20:35,199
Speaker 1: that automatic payment man, that is the best way to

437
00:20:35,280 --> 00:20:38,760
Speaker 1: completely avoid this fee altogether. All right. Another pesky fee

438
00:20:38,760 --> 00:20:41,600
Speaker 1: that most of us have probably encountered at one point

439
00:20:41,680 --> 00:20:44,680
Speaker 1: or another is baggage fees. And with the different websites

440
00:20:44,720 --> 00:20:48,040
Speaker 1: that aggregate and price compare airfare for you, all of us,

441
00:20:48,080 --> 00:20:50,480
Speaker 1: we've become a lot more price sensitive when it comes

442
00:20:50,480 --> 00:20:53,199
Speaker 1: to booking airfare, and a lot of airlines will it's

443
00:20:53,280 --> 00:20:54,760
Speaker 1: kind of this race to the bottom of trying to

444
00:20:54,800 --> 00:20:57,439
Speaker 1: get their tickets sold for as cheap as possible so

445
00:20:57,480 --> 00:20:59,959
Speaker 1: that you're kind of in the system and you're flying

446
00:21:00,040 --> 00:21:02,679
Speaker 1: on their airline. Well, in order to recoup some of

447
00:21:02,720 --> 00:21:06,560
Speaker 1: those price cuts, airlines have instituted some of those ridiculous fees.

448
00:21:06,600 --> 00:21:08,720
Speaker 1: I mentioned that stat at the beginning of the episode,

449
00:21:08,760 --> 00:21:12,480
Speaker 1: seven point eight billion dollars on fees alone last year

450
00:21:12,520 --> 00:21:16,840
Speaker 1: from airlines. Boo. I agree, Matt, everyone hates paying check

451
00:21:16,880 --> 00:21:19,919
Speaker 1: bag fees, but some airlines are charging for things cecilious

452
00:21:20,200 --> 00:21:23,880
Speaker 1: printing your boarding pass for ten bucks or charging three

453
00:21:23,880 --> 00:21:27,359
Speaker 1: bucks for water. In both cases, that culprit is spirit

454
00:21:27,400 --> 00:21:30,280
Speaker 1: airlines everyone's favorite airlines. Yeah, but they're at least trying

455
00:21:30,280 --> 00:21:33,080
Speaker 1: to be a little more upfront about their fees and

456
00:21:33,080 --> 00:21:34,680
Speaker 1: and lets you know, well, hey, this is what you're

457
00:21:34,680 --> 00:21:36,560
Speaker 1: gonna pay, so that you know ahead of time and

458
00:21:36,560 --> 00:21:39,000
Speaker 1: you're not just completely blindsided by the fact that you're

459
00:21:39,000 --> 00:21:43,200
Speaker 1: paying a fee. Instead, consider booking with airlines like Southwest,

460
00:21:43,440 --> 00:21:46,840
Speaker 1: who don't charge fees for pretty much anything. And in particular,

461
00:21:46,880 --> 00:21:49,840
Speaker 1: if you've ever tried to change a ticket you wanted

462
00:21:49,880 --> 00:21:53,680
Speaker 1: to cancel a reservation, well, guess how most airlines handle

463
00:21:53,760 --> 00:21:56,320
Speaker 1: that mat Not very well. You pretty much lose the

464
00:21:56,400 --> 00:21:58,520
Speaker 1: entire amount that you've paid if you're not able to

465
00:21:58,640 --> 00:22:01,439
Speaker 1: use that ticket. South Ust, well, they don't charge ticket

466
00:22:01,520 --> 00:22:03,880
Speaker 1: change fees, and they make it a whole lot easier

467
00:22:04,160 --> 00:22:07,800
Speaker 1: to book another flight if that initial reservation isn't going

468
00:22:07,840 --> 00:22:10,520
Speaker 1: to work for you anymore. Another way to avoid those

469
00:22:10,680 --> 00:22:13,760
Speaker 1: pesky baggage fees is to only take carry on luggage

470
00:22:13,800 --> 00:22:15,960
Speaker 1: with you and to print your boarding past yourself or

471
00:22:16,000 --> 00:22:18,440
Speaker 1: just kind of have it on your smartphone. But yeah,

472
00:22:18,480 --> 00:22:21,000
Speaker 1: I think there are so many ways to avoid these

473
00:22:21,040 --> 00:22:23,840
Speaker 1: fees by just kind of taking less with you and

474
00:22:23,880 --> 00:22:26,520
Speaker 1: only taking a carry on bag. It's a quick question

475
00:22:26,520 --> 00:22:29,480
Speaker 1: for you. What's the difference then between like Spirit Airlines.

476
00:22:29,520 --> 00:22:33,119
Speaker 1: Do you think in a company that is beloved like Aldi? Right?

477
00:22:33,280 --> 00:22:34,760
Speaker 1: Because Aldi, what do they make you do when you

478
00:22:34,800 --> 00:22:36,200
Speaker 1: go to the store. They make you take a quarter

479
00:22:36,560 --> 00:22:38,639
Speaker 1: stick it in the stupid cart and then you can

480
00:22:38,640 --> 00:22:40,720
Speaker 1: push that cart around it but you get your quarter back.

481
00:22:41,000 --> 00:22:43,639
Speaker 1: But still that is something that Aldi has done to

482
00:22:43,720 --> 00:22:46,280
Speaker 1: keep costs low, right, Like, this is something that Spirit

483
00:22:46,320 --> 00:22:48,840
Speaker 1: Airlines has done in order to keep costs low. Like,

484
00:22:48,880 --> 00:22:51,479
Speaker 1: what's the difference there between a company that is essentially

485
00:22:51,560 --> 00:22:55,280
Speaker 1: being frugal or cheap corporate edition? Yeah, I mean, I

486
00:22:55,320 --> 00:22:58,600
Speaker 1: guess the best thing I can come up with is

487
00:22:58,680 --> 00:23:01,280
Speaker 1: the way they communicate it to their customers. And I

488
00:23:01,280 --> 00:23:03,120
Speaker 1: feel like Aldi has done a great job with their

489
00:23:03,160 --> 00:23:06,720
Speaker 1: signage of notifying people of why they do certain things.

490
00:23:07,080 --> 00:23:09,040
Speaker 1: For the longest time, they didn't take credit cards in

491
00:23:09,200 --> 00:23:12,560
Speaker 1: order to avoid paying those transaction charges. And I guess

492
00:23:12,600 --> 00:23:14,520
Speaker 1: they just realized over time that a lot of people

493
00:23:14,560 --> 00:23:16,160
Speaker 1: wanted to pay that way and they were losing out

494
00:23:16,160 --> 00:23:18,440
Speaker 1: on business on the other side because people had to

495
00:23:18,440 --> 00:23:20,639
Speaker 1: pay with the debit card and not everyone wanted to

496
00:23:20,640 --> 00:23:22,440
Speaker 1: pay that way. And when it comes to the quarters,

497
00:23:22,480 --> 00:23:24,520
Speaker 1: the quarters for a shopping card. They have a sign

498
00:23:24,600 --> 00:23:27,399
Speaker 1: above those shopping cards that says, a quarter saves you

499
00:23:27,440 --> 00:23:30,040
Speaker 1: a dollar. Here's why we're doing this because then we

500
00:23:30,040 --> 00:23:32,439
Speaker 1: don't have to employ more people to get cards that

501
00:23:32,480 --> 00:23:35,159
Speaker 1: are strown all across the parking lot. And Spirit for

502
00:23:35,200 --> 00:23:38,000
Speaker 1: the longest time did a really bad job at communicating

503
00:23:38,119 --> 00:23:40,439
Speaker 1: why they were charging these fees, and you just kind

504
00:23:40,440 --> 00:23:43,200
Speaker 1: of get hit with it and you didn't understand why

505
00:23:43,280 --> 00:23:45,240
Speaker 1: you were being charged, or it didn't just it just

506
00:23:45,280 --> 00:23:48,000
Speaker 1: didn't make sense. And now Spirit is doing a much

507
00:23:48,080 --> 00:23:50,960
Speaker 1: better job, at least on their website with the messaging

508
00:23:51,240 --> 00:23:54,919
Speaker 1: helping you understand kind of why these fees are being charged,

509
00:23:55,160 --> 00:23:59,520
Speaker 1: and hopefully you realize that you're paying such a smaller

510
00:23:59,560 --> 00:24:03,440
Speaker 1: amount to actually fly for the actual ticket that maybe

511
00:24:03,440 --> 00:24:06,080
Speaker 1: those fees might make sense when you're thinking about the

512
00:24:06,119 --> 00:24:08,800
Speaker 1: total overall cost. And I think there's also something that

513
00:24:08,840 --> 00:24:11,439
Speaker 1: has to do with offering something but charging you for

514
00:24:11,600 --> 00:24:14,040
Speaker 1: it like extra on top of that. Right, it's not

515
00:24:14,119 --> 00:24:17,080
Speaker 1: like Aldi when you go into the store, they don't say, hey,

516
00:24:17,119 --> 00:24:19,840
Speaker 1: we don't have music just because we're trying to save money.

517
00:24:19,880 --> 00:24:22,040
Speaker 1: But if you want to pump a dollar into the

518
00:24:22,119 --> 00:24:24,919
Speaker 1: jukebox machine, then you get the shop with music playing.

519
00:24:25,040 --> 00:24:27,480
Speaker 1: You know, it's not like there's a like a special

520
00:24:27,560 --> 00:24:30,600
Speaker 1: section of the store only for premium members where it's like,

521
00:24:30,640 --> 00:24:32,679
Speaker 1: if you pay an extra two dollars you have access

522
00:24:32,720 --> 00:24:35,359
Speaker 1: to these groceries. I wonder if the fact that you

523
00:24:35,400 --> 00:24:38,080
Speaker 1: know these things aren't even offered by Aldi make it

524
00:24:38,160 --> 00:24:40,200
Speaker 1: so that it's not something that you desire, and then

525
00:24:40,240 --> 00:24:42,239
Speaker 1: when you don't get it, you're upset that you have

526
00:24:42,320 --> 00:24:44,240
Speaker 1: to pay more for it. Whereas like, that's just what

527
00:24:44,280 --> 00:24:46,119
Speaker 1: you expect when it comes to airlines, right, Like you

528
00:24:46,160 --> 00:24:48,520
Speaker 1: expect to be able to check a bag or you know,

529
00:24:48,600 --> 00:24:50,720
Speaker 1: even carry on a bag without being charged, which is

530
00:24:50,760 --> 00:24:53,320
Speaker 1: the case sometimes well also too, that's how it used

531
00:24:53,359 --> 00:24:55,760
Speaker 1: to be. It used to be that you could check

532
00:24:55,760 --> 00:24:58,120
Speaker 1: a bag with no fee, and then ten years ago

533
00:24:58,160 --> 00:25:00,520
Speaker 1: when these fees kind of started to come into play,

534
00:25:00,600 --> 00:25:02,720
Speaker 1: and then everyone started to one up each other and

535
00:25:02,760 --> 00:25:06,240
Speaker 1: make it that much worse for all of us when

536
00:25:06,240 --> 00:25:08,920
Speaker 1: it came to paying fees for every little thing when

537
00:25:08,920 --> 00:25:11,840
Speaker 1: we were booking a flight, that just kind of changed

538
00:25:11,840 --> 00:25:14,080
Speaker 1: our experience and it wasn't something we were used to,

539
00:25:14,440 --> 00:25:16,720
Speaker 1: and all these kind of changing it in another way,

540
00:25:17,040 --> 00:25:19,080
Speaker 1: where you might pay a quarter in order to get

541
00:25:19,119 --> 00:25:21,320
Speaker 1: the shopping cart, but as you walk through the story,

542
00:25:21,320 --> 00:25:24,200
Speaker 1: you totally see why that's the case. You totally see

543
00:25:24,200 --> 00:25:26,280
Speaker 1: how much money you're saving on everything else you're buying.

544
00:25:26,720 --> 00:25:28,879
Speaker 1: And it's like, Okay, I paid a quarter, but I

545
00:25:28,880 --> 00:25:30,679
Speaker 1: get it back and let you get it back. That's all.

546
00:25:30,720 --> 00:25:32,480
Speaker 1: That's really what matters on the shopping car, right, I

547
00:25:32,520 --> 00:25:34,920
Speaker 1: get the quarterback. But then also it kind of makes

548
00:25:34,960 --> 00:25:36,720
Speaker 1: sense that the way they're doing it, they're doing it

549
00:25:36,760 --> 00:25:39,520
Speaker 1: in this really frugal way. And then again they just

550
00:25:39,560 --> 00:25:42,159
Speaker 1: communicate it so well, and half of the battle is

551
00:25:42,200 --> 00:25:45,120
Speaker 1: communication at least half the battle, right when you're trying

552
00:25:45,119 --> 00:25:46,840
Speaker 1: to let people know why you're doing things the way

553
00:25:46,840 --> 00:25:49,760
Speaker 1: you are, and ultimately, if you have the customer's best

554
00:25:49,760 --> 00:25:52,199
Speaker 1: interest at heart, and these fees are going to result

555
00:25:52,240 --> 00:25:55,440
Speaker 1: in an overall lower cost and better experience for everyone involved,

556
00:25:55,640 --> 00:25:58,359
Speaker 1: people are willing to partake in something like that. But

557
00:25:58,400 --> 00:26:00,760
Speaker 1: typically when we encounter a fee, it feels like it's

558
00:26:00,760 --> 00:26:03,640
Speaker 1: almost like an assault against us as opposed to someone

559
00:26:03,720 --> 00:26:05,560
Speaker 1: trying to help us out. Yeah. Yeah, they're trying to

560
00:26:05,560 --> 00:26:06,920
Speaker 1: be sneaky about it. They're trying to stick it to

561
00:26:07,000 --> 00:26:08,960
Speaker 1: us instead of showing how we're on the same team together.

562
00:26:09,000 --> 00:26:12,760
Speaker 1: All right, enough about airlines and Aldi, let's talk about

563
00:26:12,760 --> 00:26:17,080
Speaker 1: fees for purchasing sporting and concert tickets. Man, we've already

564
00:26:17,080 --> 00:26:19,440
Speaker 1: talked about, you know, these fees with Ticketmaster and stud pub.

565
00:26:19,680 --> 00:26:23,040
Speaker 1: I hate these fees, and sometimes there aren't ways that

566
00:26:23,119 --> 00:26:25,680
Speaker 1: you can avoid them, right, Like, one of the solutions

567
00:26:25,720 --> 00:26:29,040
Speaker 1: is that you can just purchase fewer tickets. But another

568
00:26:29,080 --> 00:26:32,000
Speaker 1: option is that you can check with the venue specifically

569
00:26:32,320 --> 00:26:35,080
Speaker 1: and see if you can purchase them directly fee free

570
00:26:35,280 --> 00:26:37,399
Speaker 1: at the box office. That's something I've done before at

571
00:26:37,440 --> 00:26:40,520
Speaker 1: one of our local historic theaters downtown, and you can

572
00:26:40,560 --> 00:26:42,720
Speaker 1: just show up at the box office avoid the fees altogether.

573
00:26:43,160 --> 00:26:45,159
Speaker 1: Plus it's kind of fun to buy things at the

574
00:26:45,160 --> 00:26:47,680
Speaker 1: old school window, you know what I'm saying. Oh yeah,

575
00:26:47,680 --> 00:26:49,560
Speaker 1: it's I think it's a great way. And not all

576
00:26:49,680 --> 00:26:52,320
Speaker 1: venues offer that. But if a venue does, like call

577
00:26:52,359 --> 00:26:54,240
Speaker 1: ahead and ask if they do. If it's a quite

578
00:26:54,280 --> 00:26:56,359
Speaker 1: a drive away from where you are, But if they do,

579
00:26:56,480 --> 00:26:58,359
Speaker 1: and you can save that money, you can avoid paying

580
00:26:58,359 --> 00:27:00,880
Speaker 1: that fee. That's definitely a great way to go. Other

581
00:27:00,920 --> 00:27:03,920
Speaker 1: fees that are pesky TV fees, oh man, they run

582
00:27:03,960 --> 00:27:09,000
Speaker 1: the Gamutt regional sports fees, high definition fees, broadcast television fees.

583
00:27:09,359 --> 00:27:12,160
Speaker 1: All right, well, what's the way that we avoid these

584
00:27:12,440 --> 00:27:15,960
Speaker 1: fees for watching television? Well, I don't know about you, Matt,

585
00:27:16,000 --> 00:27:18,720
Speaker 1: I would say ditch cable. These fees are kind of

586
00:27:18,920 --> 00:27:21,440
Speaker 1: an example of the way things used to be, the

587
00:27:21,480 --> 00:27:24,560
Speaker 1: way the business used to run. And if we continue

588
00:27:24,600 --> 00:27:27,600
Speaker 1: to subscribe to the old model, the old way of

589
00:27:27,720 --> 00:27:30,639
Speaker 1: getting television in our home, we're gonna be forced to

590
00:27:30,680 --> 00:27:33,560
Speaker 1: pay these fees. And and stats have shown the fees

591
00:27:33,600 --> 00:27:36,040
Speaker 1: that pay TV companies are charging are going up at

592
00:27:36,080 --> 00:27:40,159
Speaker 1: exorbitant rates. People that have cable or satellite television are

593
00:27:40,200 --> 00:27:43,680
Speaker 1: paying a lot more in fees than they did percentage wise,

594
00:27:44,000 --> 00:27:46,919
Speaker 1: just even a few years ago. So the new model

595
00:27:46,960 --> 00:27:49,280
Speaker 1: is streaming and there are great companies. We talked about

596
00:27:49,320 --> 00:27:52,800
Speaker 1: this before on the show, but basically, ditching cable is

597
00:27:52,840 --> 00:27:56,199
Speaker 1: the only way to avoid fees like that. And Buddy, Man,

598
00:27:56,240 --> 00:27:58,680
Speaker 1: I wanted to talk about car buying fees. This isn't

599
00:27:58,760 --> 00:28:02,400
Speaker 1: something that we experience often because we like to keep

600
00:28:02,440 --> 00:28:05,040
Speaker 1: our cars around for a long time, but man, there

601
00:28:05,119 --> 00:28:07,280
Speaker 1: can be a lot of fees involved in the car

602
00:28:07,280 --> 00:28:10,199
Speaker 1: buying process. Be sure that you are looking closely at

603
00:28:10,240 --> 00:28:12,320
Speaker 1: your purchase documents, make sure that you're pointing them out

604
00:28:12,680 --> 00:28:15,560
Speaker 1: and try to negotiate each and every one of those fees.

605
00:28:15,920 --> 00:28:18,639
Speaker 1: If you are not able to negotiate those fees, be

606
00:28:18,760 --> 00:28:20,920
Speaker 1: willing to walk away. This is one of the reasons

607
00:28:21,000 --> 00:28:23,960
Speaker 1: I think that car Vonna is just doing such a

608
00:28:24,000 --> 00:28:27,240
Speaker 1: great job taking the used car industry by storm because

609
00:28:27,280 --> 00:28:30,280
Speaker 1: they have such a straightforward approach and how they communicate

610
00:28:30,320 --> 00:28:32,639
Speaker 1: the cost to you as the buyer. Uh, they just

611
00:28:32,680 --> 00:28:35,240
Speaker 1: convey that so well. They communicate that, well, the price

612
00:28:35,640 --> 00:28:37,480
Speaker 1: is the price, like you see the price when you

613
00:28:37,560 --> 00:28:39,640
Speaker 1: first look at the vehicle, and that it doesn't change

614
00:28:39,680 --> 00:28:42,640
Speaker 1: because all those costs are built in. People don't necessarily

615
00:28:42,760 --> 00:28:44,600
Speaker 1: want to have to haggle. You want to see the price,

616
00:28:44,600 --> 00:28:46,000
Speaker 1: you want to know what it is, and you want

617
00:28:46,000 --> 00:28:48,240
Speaker 1: to be able to pay that price. And when there's

618
00:28:48,320 --> 00:28:51,640
Speaker 1: that sort of upfrontness and that transparency within an industry

619
00:28:51,760 --> 00:28:54,160
Speaker 1: or even just with a specific company like this, folks

620
00:28:54,200 --> 00:28:55,960
Speaker 1: are going to be much more prone to not only

621
00:28:55,960 --> 00:28:58,320
Speaker 1: recommend them to you know, to their friends, but just

622
00:28:58,360 --> 00:29:01,720
Speaker 1: to use that company in and again, you man location

623
00:29:01,760 --> 00:29:04,719
Speaker 1: fees or delivery fees, there are all sorts of fees

624
00:29:04,760 --> 00:29:08,000
Speaker 1: that are built into the car buying process at times,

625
00:29:08,040 --> 00:29:11,440
Speaker 1: and it's refreshing to do business with a company that

626
00:29:11,480 --> 00:29:15,120
Speaker 1: doesn't charge those kind of random fees. And you know what,

627
00:29:15,240 --> 00:29:17,240
Speaker 1: if you are buying a car, if you're really interested

628
00:29:17,280 --> 00:29:19,640
Speaker 1: in buying a car, and you see those fees in

629
00:29:19,680 --> 00:29:22,240
Speaker 1: plain sight, right in front of your face, ask questions

630
00:29:22,320 --> 00:29:25,040
Speaker 1: about those fees. Ask if they can be waved or

631
00:29:25,080 --> 00:29:28,640
Speaker 1: a minimum reduced anyway that you can at least ask

632
00:29:28,680 --> 00:29:31,800
Speaker 1: the question and be upfront about how you feel about

633
00:29:31,800 --> 00:29:34,280
Speaker 1: the fees. That is the only way that you're going

634
00:29:34,320 --> 00:29:36,400
Speaker 1: to have a chance at getting them wave or like

635
00:29:36,440 --> 00:29:38,800
Speaker 1: you said, walk away from the deal, or find a

636
00:29:38,840 --> 00:29:41,280
Speaker 1: place that that isn't going to charge fees like that

637
00:29:41,960 --> 00:29:44,480
Speaker 1: on a used car purchase. And of course there are

638
00:29:44,560 --> 00:29:47,920
Speaker 1: hard costs for people moving cars around right and and

639
00:29:47,920 --> 00:29:50,600
Speaker 1: and transporting them across the country or whatever they're doing.

640
00:29:50,920 --> 00:29:52,640
Speaker 1: And so to a certain extent that means that you

641
00:29:52,680 --> 00:29:55,440
Speaker 1: have to look at kind of the total cost inclusive

642
00:29:55,600 --> 00:29:57,760
Speaker 1: of fees. So we'll get to how you think about

643
00:29:57,800 --> 00:30:00,200
Speaker 1: that in other ways that you can consistently of wed

644
00:30:00,200 --> 00:30:12,880
Speaker 1: fees in your life. Right after the break, all right, Joel,

645
00:30:12,920 --> 00:30:14,480
Speaker 1: we are back from the break and we were talking

646
00:30:14,520 --> 00:30:18,320
Speaker 1: about fees. Safe to say, nobody likes the staking fees

647
00:30:18,760 --> 00:30:20,800
Speaker 1: they know. Boy, no, Yeah, we've we've talked about some

648
00:30:20,840 --> 00:30:22,880
Speaker 1: of the different ways that we get hit with fees

649
00:30:23,000 --> 00:30:25,200
Speaker 1: all the time in our lives. Now let's talk about

650
00:30:25,200 --> 00:30:28,600
Speaker 1: ways that we can combat those fees. The first thing

651
00:30:28,640 --> 00:30:29,960
Speaker 1: that you want to make sure that you're doing is

652
00:30:30,000 --> 00:30:33,320
Speaker 1: that you are reviewing your credit card statement every month.

653
00:30:33,560 --> 00:30:35,240
Speaker 1: You want to make sure to notice if there is

654
00:30:35,280 --> 00:30:38,520
Speaker 1: anything odd standing out. The reason for this is because

655
00:30:38,560 --> 00:30:41,440
Speaker 1: you might be paying for services or fees that you

656
00:30:41,520 --> 00:30:44,280
Speaker 1: even forgot about or potentially didn't even sign up for.

657
00:30:44,720 --> 00:30:46,640
Speaker 1: The worst fee is the fee that you don't even

658
00:30:46,680 --> 00:30:50,520
Speaker 1: know exists. I call that the phantom fee. So step

659
00:30:50,560 --> 00:30:52,040
Speaker 1: one is to, you know, make sure that you're getting

660
00:30:52,040 --> 00:30:54,360
Speaker 1: your financial house in order and that you are even

661
00:30:54,480 --> 00:30:57,400
Speaker 1: aware of all the different fees that you might already

662
00:30:57,400 --> 00:30:59,480
Speaker 1: be paying. The next step that you need to take

663
00:30:59,520 --> 00:31:01,360
Speaker 1: in order to reduce fees in your life is to

664
00:31:01,360 --> 00:31:05,640
Speaker 1: cut back be okay with produced services. For example, of

665
00:31:05,680 --> 00:31:07,880
Speaker 1: a cable company is sticking it to you in there

666
00:31:08,200 --> 00:31:10,520
Speaker 1: and they already are with the regular sticker price of course,

667
00:31:10,800 --> 00:31:13,520
Speaker 1: will jump ship in order to avoid high charges and

668
00:31:13,800 --> 00:31:17,040
Speaker 1: ridiculous fees. In episode one oh seven, Matt, Matt, we

669
00:31:17,080 --> 00:31:20,360
Speaker 1: talked about cutting the cord, and really that's we just

670
00:31:20,400 --> 00:31:23,120
Speaker 1: talked about ditching cable in order to avoid fees while

671
00:31:23,360 --> 00:31:26,200
Speaker 1: going with a streaming service, kind of running with the

672
00:31:26,240 --> 00:31:30,320
Speaker 1: new age, with more upfront pricing, with more standard pricing,

673
00:31:30,440 --> 00:31:34,440
Speaker 1: with easier to understand pricing models. That is a way

674
00:31:34,480 --> 00:31:37,600
Speaker 1: to to ditch fees on the way you watch television,

675
00:31:37,800 --> 00:31:40,000
Speaker 1: for sure. Yeah, and je, if you are not willing

676
00:31:40,040 --> 00:31:42,920
Speaker 1: to cut back on the different services that you are

677
00:31:42,960 --> 00:31:46,280
Speaker 1: paying for, try to be at least willing to switch

678
00:31:46,640 --> 00:31:50,120
Speaker 1: be okay changing different providers. You can switch banks, you

679
00:31:50,120 --> 00:31:53,240
Speaker 1: can switch cell phone service providers. Any time that you

680
00:31:53,280 --> 00:31:57,320
Speaker 1: can prioritize doing business with a company who avoids fees

681
00:31:57,840 --> 00:32:01,680
Speaker 1: and prioritizes price transparency and customer service. You should like,

682
00:32:01,760 --> 00:32:03,960
Speaker 1: that's who you should be giving your money to, not

683
00:32:04,080 --> 00:32:06,760
Speaker 1: someone who's secretly nickel and diming you. Oh and by

684
00:32:06,760 --> 00:32:08,080
Speaker 1: the way, they're not going to tell you until the

685
00:32:08,160 --> 00:32:10,360
Speaker 1: very last screen before you click purchase. You know, like

686
00:32:10,400 --> 00:32:13,480
Speaker 1: that's the worst. Yeah, doing business with companies that avoid

687
00:32:13,520 --> 00:32:17,480
Speaker 1: fees is actually this virtuous cycle whereas we are being

688
00:32:17,640 --> 00:32:20,040
Speaker 1: a little more intelligent and a little bit more thoughtful

689
00:32:20,040 --> 00:32:23,080
Speaker 1: about who we do business with. Those businesses are profiting

690
00:32:23,480 --> 00:32:26,640
Speaker 1: for doing business the right way, the way that avoids

691
00:32:26,680 --> 00:32:30,440
Speaker 1: crummy fees, and so as you switch service providers, make

692
00:32:30,480 --> 00:32:34,520
Speaker 1: sure you're doing your best to avoid providers that charge

693
00:32:34,800 --> 00:32:38,000
Speaker 1: just ridiculous or stupid or or annoying fees. And I

694
00:32:38,040 --> 00:32:41,320
Speaker 1: think overall, as we do that, other companies that maybe

695
00:32:41,320 --> 00:32:43,920
Speaker 1: we're charging stupid fees kind of begin to see that

696
00:32:44,000 --> 00:32:46,280
Speaker 1: and they're like, oh, wait, wait a second, then that

697
00:32:46,280 --> 00:32:48,720
Speaker 1: that fee model is actually annoying people. It's not working out,

698
00:32:48,920 --> 00:32:51,200
Speaker 1: and it's not attracting new business, and it's not helping

699
00:32:51,240 --> 00:32:53,560
Speaker 1: me keep my current customers. And so yeah, if we

700
00:32:53,640 --> 00:32:55,680
Speaker 1: do that, I think it actually makes not just a

701
00:32:55,680 --> 00:32:57,240
Speaker 1: big difference in the here and now for the fees

702
00:32:57,240 --> 00:32:59,480
Speaker 1: that we're paying, but it makes a statement as companies

703
00:32:59,560 --> 00:33:01,720
Speaker 1: kind of adapt to the way that we want to

704
00:33:01,760 --> 00:33:03,600
Speaker 1: do business, and the way that I want to do

705
00:33:03,680 --> 00:33:05,800
Speaker 1: business at least is I want to do business on

706
00:33:05,960 --> 00:33:08,600
Speaker 1: and kind of an upfront model of knowing how much

707
00:33:08,600 --> 00:33:10,440
Speaker 1: I'm gonna pay getting into it. I don't want to

708
00:33:10,480 --> 00:33:13,080
Speaker 1: be charged fees on the back end that I didn't

709
00:33:13,120 --> 00:33:16,120
Speaker 1: realize going into the purchase up front. Yeah, reward those

710
00:33:16,120 --> 00:33:18,760
Speaker 1: companies that are doing good stuff. Yeah, exactly. But Joel,

711
00:33:18,840 --> 00:33:21,840
Speaker 1: if you do find yourself with an unnecessary fee, remember

712
00:33:22,080 --> 00:33:24,880
Speaker 1: that the squeaky wheel gets the grease. Just like we

713
00:33:24,960 --> 00:33:28,000
Speaker 1: encourage each other to ask for discount, we are encouraging

714
00:33:28,040 --> 00:33:32,360
Speaker 1: you to ask for your fee to be waived and specifically, Man, lately,

715
00:33:32,400 --> 00:33:35,480
Speaker 1: I've been doing this via the chat option, right. I'm

716
00:33:35,480 --> 00:33:38,760
Speaker 1: a huge fan of the chat now or the live

717
00:33:38,840 --> 00:33:42,200
Speaker 1: chat options that banks. A lot of retailers have them

718
00:33:42,240 --> 00:33:45,080
Speaker 1: now as well. They're including those on the websites. I

719
00:33:45,120 --> 00:33:48,120
Speaker 1: like it though, because it's easy, and I specifically can

720
00:33:48,200 --> 00:33:50,960
Speaker 1: multitask while I'm kind of chatting with them waiting for

721
00:33:51,000 --> 00:33:54,000
Speaker 1: them to respond. I can keep working while they weigh

722
00:33:54,040 --> 00:33:56,720
Speaker 1: that fee. And of course I could call, right, like,

723
00:33:56,720 --> 00:33:59,080
Speaker 1: actually pick up the phone, make a phone call, talk

724
00:33:59,120 --> 00:34:01,840
Speaker 1: to a human being. But here's the thing, I'm a

725
00:34:01,880 --> 00:34:04,360
Speaker 1: millennial and I don't want to have to actually talk

726
00:34:04,400 --> 00:34:07,360
Speaker 1: to somebody, like just typing some words onto my screen.

727
00:34:07,440 --> 00:34:10,000
Speaker 1: Oh man, you know how weird it feels when someone

728
00:34:10,040 --> 00:34:14,080
Speaker 1: actually calls, you know, unexpected. It's like, wait, why are

729
00:34:14,080 --> 00:34:17,160
Speaker 1: you presuming that I was wanting to talk on the phone, Yeah, chat,

730
00:34:17,160 --> 00:34:19,319
Speaker 1: the chat option, any sort of way that I can

731
00:34:19,360 --> 00:34:23,840
Speaker 1: interact via text essentially, it just makes it so much simpler.

732
00:34:24,080 --> 00:34:26,399
Speaker 1: And yeah, I do love talking to people on the phone.

733
00:34:26,400 --> 00:34:29,399
Speaker 1: I much prefer it in person. But when someone calls

734
00:34:29,400 --> 00:34:31,520
Speaker 1: you out of the blue, that's when it feels weird, right, yeah,

735
00:34:31,560 --> 00:34:33,640
Speaker 1: pretty much. Now I just assumed that something like terrible

736
00:34:33,640 --> 00:34:36,520
Speaker 1: has happened, agreed. Every time someone calls me, I'm like,

737
00:34:36,560 --> 00:34:39,040
Speaker 1: all right, who's hurt? Is everything? Okay? What's going on?

738
00:34:39,120 --> 00:34:40,560
Speaker 1: Do I have to go to the hospital right now?

739
00:34:40,800 --> 00:34:42,560
Speaker 1: I saw my dad was like, can you call me

740
00:34:42,680 --> 00:34:44,640
Speaker 1: in the next twenty minutes? And I was just like,

741
00:34:44,960 --> 00:34:47,040
Speaker 1: I assume something terrible happened if we needed to talk

742
00:34:47,040 --> 00:34:48,880
Speaker 1: in the next twenty minutes. No, he just wanted to

743
00:34:48,880 --> 00:34:51,120
Speaker 1: like talk about dinner next weekend or something like that.

744
00:34:51,160 --> 00:34:53,560
Speaker 1: But yeah, it's just it's just super funny the way

745
00:34:53,600 --> 00:34:56,400
Speaker 1: that we interpret a phone call versus people of a

746
00:34:56,440 --> 00:34:59,120
Speaker 1: different era where phone calls were a little more normal. Yeah,

747
00:34:59,120 --> 00:35:00,759
Speaker 1: I hear you, man. In another way that you can

748
00:35:00,760 --> 00:35:03,160
Speaker 1: get kind of fees waved in your life is by

749
00:35:03,239 --> 00:35:07,760
Speaker 1: using social media effectively. Businesses often have their best customer

750
00:35:07,760 --> 00:35:10,440
Speaker 1: service folks assigned to social media. We've talked about this before.

751
00:35:10,719 --> 00:35:14,480
Speaker 1: They don't want negative attention online. And so if you complain,

752
00:35:14,600 --> 00:35:16,920
Speaker 1: if you message them, even if you just d M

753
00:35:17,040 --> 00:35:20,960
Speaker 1: on Twitter or Facebook however, or wherever they have their

754
00:35:21,000 --> 00:35:23,880
Speaker 1: biggest presence, well you're more than likely to get your

755
00:35:23,880 --> 00:35:27,719
Speaker 1: issue resolved, your fee waved, much more easily if you

756
00:35:27,800 --> 00:35:29,759
Speaker 1: kind of take to social media in order to make

757
00:35:29,800 --> 00:35:32,640
Speaker 1: your request known. Yeah, but Joel, in the end, sometimes

758
00:35:32,800 --> 00:35:36,359
Speaker 1: we do get stuck with fees. Uh. Sometimes they are appropriate,

759
00:35:36,680 --> 00:35:38,960
Speaker 1: and you know, even though we may not like them,

760
00:35:39,280 --> 00:35:42,480
Speaker 1: they're not incorrect necessarily. But sometimes we are stuck with

761
00:35:42,520 --> 00:35:45,000
Speaker 1: fees that are just flat out wrong. Sometimes they are

762
00:35:45,200 --> 00:35:47,879
Speaker 1: straight up illegal. If that is ever the case, make

763
00:35:47,880 --> 00:35:51,080
Speaker 1: sure to file a complaint with the Better Business Bureau

764
00:35:51,280 --> 00:35:54,000
Speaker 1: or a government agency like your state attorney general or

765
00:35:54,080 --> 00:35:57,800
Speaker 1: the cfp B, which is the Consumer Financial Protection Bureau.

766
00:35:57,920 --> 00:35:59,759
Speaker 1: That's going to be a great way to have not

767
00:35:59,840 --> 00:36:02,480
Speaker 1: only of your fees resolved, but to ensure that your

768
00:36:02,520 --> 00:36:05,840
Speaker 1: fellow consumer, your fellow customer, isn't also getting stuck with

769
00:36:05,840 --> 00:36:08,920
Speaker 1: those fees. Yeah. In fact, on the Consumer Financial Protection

770
00:36:08,960 --> 00:36:13,400
Speaker 1: Bureaus website, it says that of consumers receive a timely

771
00:36:13,440 --> 00:36:16,200
Speaker 1: response from the company that they're complaining about. So if

772
00:36:16,200 --> 00:36:18,120
Speaker 1: you have an error, if you have a fee that

773
00:36:18,120 --> 00:36:20,640
Speaker 1: you've been charged the feel is out of order, that

774
00:36:20,680 --> 00:36:23,440
Speaker 1: you shouldn't have to pay, well, submitting a complaint there

775
00:36:23,440 --> 00:36:26,279
Speaker 1: will actually get action taken. And then they also say

776
00:36:26,320 --> 00:36:28,920
Speaker 1: that every time you submit a complaint it helps others.

777
00:36:28,920 --> 00:36:31,560
Speaker 1: You're you're kind of playing a role in this greater

778
00:36:31,680 --> 00:36:35,560
Speaker 1: narrative of helping of helping the CFPB assess you know,

779
00:36:35,640 --> 00:36:37,640
Speaker 1: the good and bad players out there that the folks

780
00:36:37,800 --> 00:36:41,879
Speaker 1: the companies who are are charging erran fees frequently, right,

781
00:36:41,920 --> 00:36:44,400
Speaker 1: and then they're able to take potentially an even bigger

782
00:36:44,400 --> 00:36:48,279
Speaker 1: action against a company like that. So the BBB, the CFPB,

783
00:36:48,400 --> 00:36:50,560
Speaker 1: those are great places to kind of submit a complaint

784
00:36:50,760 --> 00:36:52,919
Speaker 1: if you feel like you've been charged in egregious fee

785
00:36:52,960 --> 00:36:55,040
Speaker 1: or if you've been charged in error, that that's a

786
00:36:55,040 --> 00:36:57,040
Speaker 1: great place to go. And it's just gotten so much

787
00:36:57,040 --> 00:36:59,200
Speaker 1: easier for us to make our voices heard about fees

788
00:36:59,400 --> 00:37:01,799
Speaker 1: we just meant in social media, but even just kind

789
00:37:01,800 --> 00:37:04,359
Speaker 1: of publicizing it, letting people know that we've had an

790
00:37:04,360 --> 00:37:07,399
Speaker 1: issue a run in. Sometimes those complaints, if they're done

791
00:37:07,400 --> 00:37:10,200
Speaker 1: well if they're done intelligently, can take on a life

792
00:37:10,200 --> 00:37:12,120
Speaker 1: of their own, can let not only just our friends

793
00:37:12,120 --> 00:37:15,719
Speaker 1: and family know, but can reach a wider audience and

794
00:37:15,800 --> 00:37:19,239
Speaker 1: can help other people from avoiding the same pitfall with

795
00:37:19,280 --> 00:37:22,200
Speaker 1: that company, but also can create kind of a tidal

796
00:37:22,239 --> 00:37:24,640
Speaker 1: wave that leads to a potential change as well. So

797
00:37:24,840 --> 00:37:27,359
Speaker 1: I think we do have more power thanks to kind

798
00:37:27,360 --> 00:37:30,200
Speaker 1: of social media and the networks that we've developed. That

799
00:37:30,360 --> 00:37:32,360
Speaker 1: is like one of the good sides of social media,

800
00:37:32,480 --> 00:37:35,319
Speaker 1: right that we can take to it and actually see

801
00:37:35,360 --> 00:37:38,200
Speaker 1: real change happen, especially in regards to the pesky fees

802
00:37:38,200 --> 00:37:40,719
Speaker 1: and companies that aren't using them well Joel. But at

803
00:37:40,760 --> 00:37:42,400
Speaker 1: the end of the day, we want to make sure

804
00:37:42,440 --> 00:37:44,400
Speaker 1: that you and I and everyone out there that we

805
00:37:44,440 --> 00:37:47,359
Speaker 1: are looking at the bottom line. If you look at

806
00:37:47,400 --> 00:37:51,120
Speaker 1: the overall bottom line costs right at the price, paying

807
00:37:51,160 --> 00:37:55,640
Speaker 1: certain fees might still score you the best overall deal. Yeah,

808
00:37:55,840 --> 00:37:58,439
Speaker 1: we talked about spirit just a little bit earlier there.

809
00:37:58,880 --> 00:38:00,920
Speaker 1: Kind of whole model is on the fact that they

810
00:38:01,000 --> 00:38:04,360
Speaker 1: charge fees. They charge like just insanely low prices in

811
00:38:04,400 --> 00:38:07,200
Speaker 1: the beginning for just the fair and there are ways

812
00:38:07,239 --> 00:38:09,840
Speaker 1: that you can avoid paying those fees. There are hoops

813
00:38:09,880 --> 00:38:12,520
Speaker 1: you can jump through, no matter how uncomfortable you might

814
00:38:12,520 --> 00:38:15,839
Speaker 1: be in doing so. By taking just the smallest piece

815
00:38:15,880 --> 00:38:18,200
Speaker 1: of luggage, or making sure you print your own ticket

816
00:38:18,239 --> 00:38:19,960
Speaker 1: at home, whatever it is, there are ways that you

817
00:38:19,960 --> 00:38:22,560
Speaker 1: can avoid a good many of those fees, and so yeah,

818
00:38:22,560 --> 00:38:26,120
Speaker 1: I think really considering the overall ultimate cost is kind

819
00:38:26,160 --> 00:38:29,000
Speaker 1: of like where we should come down. I hate fees

820
00:38:29,000 --> 00:38:31,359
Speaker 1: at their pesky, For instance, Matt, I'll tell you this.

821
00:38:31,440 --> 00:38:34,359
Speaker 1: I was buying a purse from my wife for our anniversary,

822
00:38:34,640 --> 00:38:36,560
Speaker 1: and I was looking online. I saw the price. It

823
00:38:36,760 --> 00:38:38,960
Speaker 1: seemed like a decent deal, but there was a shipping fee,

824
00:38:39,040 --> 00:38:40,920
Speaker 1: and I just didn't want to pay the shipping fee.

825
00:38:41,160 --> 00:38:43,759
Speaker 1: So I waited, and ultimately I found another coupon code

826
00:38:43,760 --> 00:38:46,319
Speaker 1: that brought the price down. But even then I was like, man,

827
00:38:46,360 --> 00:38:48,719
Speaker 1: I still have to pay the shipping. I realized that

828
00:38:48,800 --> 00:38:51,040
Speaker 1: this company has shipping costs they have to incur, but

829
00:38:51,080 --> 00:38:53,760
Speaker 1: I've just gotten so used to paying nothing for shipping

830
00:38:54,120 --> 00:38:56,360
Speaker 1: from so many places around the web that it feels

831
00:38:56,400 --> 00:38:59,440
Speaker 1: like a fee. But really, the price was really, really,

832
00:38:59,520 --> 00:39:01,880
Speaker 1: really good, and so I was happy to buy that

833
00:39:01,920 --> 00:39:03,719
Speaker 1: purse because I knew she would love it and it

834
00:39:03,760 --> 00:39:07,120
Speaker 1: was a great deal. So ultimately, just don't be blindsided

835
00:39:07,480 --> 00:39:10,680
Speaker 1: by the fee to that extent where you're not taking

836
00:39:10,719 --> 00:39:15,000
Speaker 1: into consideration the total overall cost of doing business with

837
00:39:15,040 --> 00:39:17,560
Speaker 1: that company or purchasing that item. Yeah, man, and we

838
00:39:17,600 --> 00:39:19,640
Speaker 1: just touched on this too, But we are not opposed

839
00:39:19,719 --> 00:39:23,120
Speaker 1: to paying for things that we are receiving the benefit of. Right.

840
00:39:23,360 --> 00:39:25,760
Speaker 1: We know that products and services they do cost money.

841
00:39:26,000 --> 00:39:28,959
Speaker 1: But it's just when those products and services get stuck

842
00:39:29,000 --> 00:39:31,160
Speaker 1: to us at the very end without us knowing it,

843
00:39:31,560 --> 00:39:33,359
Speaker 1: or if it's something that they're trying to hide, where

844
00:39:33,360 --> 00:39:35,360
Speaker 1: they're trying to slide into the total cost of something,

845
00:39:35,640 --> 00:39:38,120
Speaker 1: when those fees, when those costs are hidden, when it

846
00:39:38,160 --> 00:39:40,080
Speaker 1: feels like they're being sneaky about it, where they're trying

847
00:39:40,120 --> 00:39:42,760
Speaker 1: to not be spotted, That to me is the worst.

848
00:39:42,840 --> 00:39:45,080
Speaker 1: Like that's when the fees feel completely terrible. It's like

849
00:39:45,080 --> 00:39:47,319
Speaker 1: a personal affront to my character when that happens. Yeah,

850
00:39:47,320 --> 00:39:49,600
Speaker 1: I'm thinking to myself, you think you're gonna get that

851
00:39:49,600 --> 00:39:51,279
Speaker 1: past me? Like you think I wasn't going to see

852
00:39:51,280 --> 00:39:52,640
Speaker 1: that fee. Of course I want to see that fee.

853
00:39:52,640 --> 00:39:54,719
Speaker 1: Who do you think I am? Right? Yeah? Man, I'm

854
00:39:54,800 --> 00:39:58,239
Speaker 1: vigilant too, and so if I am getting a fee.

855
00:39:58,239 --> 00:40:00,400
Speaker 1: If I'm seeing a fee that I don't reckon guies

856
00:40:00,560 --> 00:40:02,719
Speaker 1: or that I wasn't expecting, then you know what, I'm

857
00:40:02,719 --> 00:40:04,759
Speaker 1: gonna speak up about it. And I think that's what

858
00:40:04,840 --> 00:40:06,759
Speaker 1: we should all do. We should all become a little

859
00:40:06,760 --> 00:40:09,359
Speaker 1: more accustomed to speaking up for ourselves, to push back

860
00:40:09,400 --> 00:40:11,399
Speaker 1: on fees that are ridiculous that we find in our lives.

861
00:40:11,440 --> 00:40:12,960
Speaker 1: And I think the more we do that, the more

862
00:40:13,000 --> 00:40:15,040
Speaker 1: we'll start to see them get waived, the more we'll

863
00:40:15,040 --> 00:40:18,120
Speaker 1: start to see companies change their patterns. But more than anything,

864
00:40:18,440 --> 00:40:20,520
Speaker 1: there are also these fees that we talked about that

865
00:40:20,600 --> 00:40:23,319
Speaker 1: we can avoid in our lives just by kind of

866
00:40:23,600 --> 00:40:26,680
Speaker 1: handling our finances a little bit more intelligently and being

867
00:40:26,719 --> 00:40:28,600
Speaker 1: a little bit smarter about the companies that we do

868
00:40:28,640 --> 00:40:30,160
Speaker 1: business with on a on a day to day or

869
00:40:30,200 --> 00:40:33,000
Speaker 1: month to month basis. Yeah, that's right, buddy. Tell me this,

870
00:40:33,200 --> 00:40:36,000
Speaker 1: what if there is a fee associated with buying craft beer?

871
00:40:36,160 --> 00:40:39,319
Speaker 1: Would you still do it? Oh? Man? How dare you

872
00:40:39,360 --> 00:40:42,560
Speaker 1: throw me the most impossible question in the world. Well, yeah,

873
00:40:42,640 --> 00:40:44,279
Speaker 1: I mean, if they're upfront about it and we knew

874
00:40:44,280 --> 00:40:46,400
Speaker 1: about that cost on the front end, I would gladly

875
00:40:46,400 --> 00:40:49,279
Speaker 1: take that into account when I'm considering my beer offerings. Yeah,

876
00:40:49,280 --> 00:40:51,879
Speaker 1: but I look for a beer shop that was fee free,

877
00:40:52,120 --> 00:40:53,839
Speaker 1: you know, like they found a way to kind of

878
00:40:54,160 --> 00:40:57,080
Speaker 1: not charge a ridiculous fee. So, speaking of beer, our

879
00:40:57,320 --> 00:41:00,440
Speaker 1: beer for this episode was, like we mentioned earlier, Bourbon

880
00:41:00,440 --> 00:41:03,880
Speaker 1: Barrel Dark Apparition, this is by Jackie Ohs. And so

881
00:41:04,040 --> 00:41:05,680
Speaker 1: I did a little bit of looking up because I

882
00:41:05,680 --> 00:41:08,920
Speaker 1: thought Jackie Oh's was a very unique name for a brewery.

883
00:41:09,280 --> 00:41:12,200
Speaker 1: My assumption is that the name is based on John F.

884
00:41:12,280 --> 00:41:14,920
Speaker 1: Kennedy's wife, Jacqueline O Nassis Kennedy, and I am I right,

885
00:41:15,080 --> 00:41:19,160
Speaker 1: ran very close it was. It was named after a female.

886
00:41:19,440 --> 00:41:23,440
Speaker 1: So art right, he's the founder of of the brewery.

887
00:41:23,719 --> 00:41:26,200
Speaker 1: He named it after his mom. Oh cool. Yeah, So

888
00:41:26,239 --> 00:41:29,719
Speaker 1: he took over the brew pub that became Jackie O's

889
00:41:29,760 --> 00:41:31,359
Speaker 1: Brewery and he just named the place after his mom,

890
00:41:31,400 --> 00:41:34,480
Speaker 1: which to me is such a like strong Midwestern thing

891
00:41:34,480 --> 00:41:36,600
Speaker 1: to do. It's like, yeah, but what you're gonna name

892
00:41:36,640 --> 00:41:39,560
Speaker 1: the brewery? I'm gonna name it after my mom. What

893
00:41:39,640 --> 00:41:41,239
Speaker 1: a cool guy man. I saw got such a good

894
00:41:41,360 --> 00:41:44,040
Speaker 1: vibe from him emailing back and forth, So no wonder,

895
00:41:44,080 --> 00:41:46,439
Speaker 1: he's a cool dude. He named his brewery after his mom. Yeah,

896
00:41:46,440 --> 00:41:49,880
Speaker 1: it sounds like he was raised. Well, yeah, what were

897
00:41:49,880 --> 00:41:51,719
Speaker 1: your thoughts on the beer? Yeah, so this was a

898
00:41:51,800 --> 00:41:54,640
Speaker 1: stout that was aged in bourbon barrels, and man, the

899
00:41:54,640 --> 00:41:56,799
Speaker 1: first thing I noticed was that on the nose it

900
00:41:56,840 --> 00:41:59,759
Speaker 1: had a pretty noticeable bourbon aroma, and along with that,

901
00:41:59,800 --> 00:42:02,360
Speaker 1: it almost had like sort of this warm apple cidery

902
00:42:02,480 --> 00:42:04,960
Speaker 1: sweetness to it. With it being cooler out these days,

903
00:42:05,000 --> 00:42:07,200
Speaker 1: I was really drawn to that. It was really a

904
00:42:07,239 --> 00:42:09,040
Speaker 1: kind of warm and comforting before he even took my

905
00:42:09,080 --> 00:42:11,040
Speaker 1: first sip. But man, as far as the flavor goes,

906
00:42:11,080 --> 00:42:13,719
Speaker 1: it was a big multi beer. It had a lot

907
00:42:13,719 --> 00:42:16,080
Speaker 1: of those flavors on the tongue, but those flavors they

908
00:42:16,120 --> 00:42:18,319
Speaker 1: didn't really sit heavy on the tongue, right, Like, I

909
00:42:18,360 --> 00:42:20,480
Speaker 1: tasted all those flavors, but then they kind of quickly

910
00:42:20,480 --> 00:42:22,320
Speaker 1: moved on and then on the finish, I feel like

911
00:42:22,320 --> 00:42:24,319
Speaker 1: it kind of ended with more that sort of bourbon kick,

912
00:42:24,320 --> 00:42:26,879
Speaker 1: which I appreciate because I'm a fan of bourbon myself. Yeah.

913
00:42:26,920 --> 00:42:30,120
Speaker 1: I thought this was a really interesting stout, very unique.

914
00:42:30,640 --> 00:42:33,920
Speaker 1: It actually had a little bit of of hot presence,

915
00:42:34,320 --> 00:42:36,560
Speaker 1: which is rare in a stout. It's not kind of

916
00:42:36,600 --> 00:42:39,080
Speaker 1: something that you normally get and so it had these

917
00:42:39,120 --> 00:42:42,640
Speaker 1: like kind of floral hops I thought, booming out, like

918
00:42:42,719 --> 00:42:46,080
Speaker 1: bursting forth a little bit inside of this midnight black

919
00:42:46,120 --> 00:42:49,360
Speaker 1: bourbon barrel aged out. So it kind of lent itself

920
00:42:49,360 --> 00:42:53,560
Speaker 1: to being this really unique, special and delicious stout that

921
00:42:53,719 --> 00:42:57,320
Speaker 1: also had kind of like some fig equalities, like qualities

922
00:42:57,320 --> 00:43:00,400
Speaker 1: of like a Belgian style quad. So yeah, I was

923
00:43:00,440 --> 00:43:05,040
Speaker 1: just really fascinating kind of concoction beer that man, I

924
00:43:05,080 --> 00:43:07,920
Speaker 1: really enjoyed, and I agree it's it's nice for especially

925
00:43:08,080 --> 00:43:10,040
Speaker 1: a cold winter night, like a dark stout like this

926
00:43:10,080 --> 00:43:13,480
Speaker 1: with kind of all these interesting flavor profile things going

927
00:43:13,520 --> 00:43:15,839
Speaker 1: on inside of it. Yeah, it was very unique and

928
00:43:15,920 --> 00:43:18,160
Speaker 1: very tasty. Yeah, with you on the Belgian quad, because

929
00:43:18,160 --> 00:43:20,080
Speaker 1: it's got the sweetness that you find in quads a

930
00:43:20,080 --> 00:43:22,799
Speaker 1: lot of times, because often with a big stout like this,

931
00:43:22,920 --> 00:43:25,680
Speaker 1: they have some more of those bitter like dark chocolate

932
00:43:25,680 --> 00:43:28,200
Speaker 1: notes or like a roasted coffee kind of profile to it.

933
00:43:28,520 --> 00:43:30,680
Speaker 1: So I hear you, dude, all right, Matt, that's gonna

934
00:43:30,680 --> 00:43:32,840
Speaker 1: do it for this episode. And we'll have show notes

935
00:43:32,920 --> 00:43:35,400
Speaker 1: up for the episode on our website at how to

936
00:43:35,520 --> 00:43:37,960
Speaker 1: money dot com. Also there on the website if you

937
00:43:38,000 --> 00:43:40,319
Speaker 1: think we can make some improvements to the show. You

938
00:43:40,360 --> 00:43:42,520
Speaker 1: can go to how do money dot com slash do

939
00:43:42,640 --> 00:43:44,400
Speaker 1: Better and you can let us know they're how we

940
00:43:44,440 --> 00:43:47,200
Speaker 1: can make the show more informative and more helpful. All buddy,

941
00:43:47,200 --> 00:43:49,520
Speaker 1: that's gonna be it for this episode until next time.

942
00:43:49,800 --> 00:44:00,120
Speaker 1: The Best Friends Asked Friends Out m