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

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Speaker 1: Matt's and today we're discussing overcoming common financial mistakes. Mean, man,

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Speaker 1: there are mistakes that we all make. However, there's a

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Speaker 1: few that are more common than others. And so yeah,

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Speaker 1: we're gonna talk about those mistakes, and specifically, we're gonna

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Speaker 1: talk about how to bounce back from those mistakes, because

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Speaker 1: that's you know, that's like that's the real important part. Yeah,

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Speaker 1: bouncing back is huge, getting back up on the horse,

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Speaker 1: you know. I Mean, there's all sorts of analogies I

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Speaker 1: think we could throw. I'm not a gymnast, Mari, right, Yeah, Like,

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Speaker 1: there's just there's so many ways. There's so many places

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Speaker 1: we can go with this. Um. But but yeah, when

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Speaker 1: we make a mistake, fixing it and learning from it

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Speaker 1: is so crucial to being able to move forward in

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Speaker 1: a positive manner. So yeah, we're gonna talk about that

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Speaker 1: today because it has just a major impact on how

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Speaker 1: we progress in our financial lives. But Matt, before we

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Speaker 1: get to that, I wanted to mention a website that

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Speaker 1: I recently stumbled upon, and I think, especially since we're

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Speaker 1: kind of in the Christmas shopping season, at this point

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Speaker 1: in time that it might be helpful to a lot

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Speaker 1: of people. It's called brick seek dot com. Brick seek

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Speaker 1: and like you're looking for a brick, yeah, but it's

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Speaker 1: brick seek um like yeah, and so it helps you

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Speaker 1: find bricks locally to where you are. No, it's a

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Speaker 1: great website. You know, it's like a brick and mortar essentially,

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Speaker 1: it's it's pointing you towards deals at brick and mortar

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Speaker 1: shops and you know where you live there, and so

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Speaker 1: it's it's pretty cool because in store deals can actually

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Speaker 1: be way bigger than online deals. Sometimes an individual store

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Speaker 1: might put something just on a massive clearance, whereas like

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Speaker 1: nationally you're online, you're not going to find that same price,

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Speaker 1: or maybe even a market right like the whole Southeast

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Speaker 1: sees one particular item go um at a major discount,

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Speaker 1: and this website, brick seek, will identify some of those things.

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Speaker 1: They'll they'll post some of the popular items that are

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Speaker 1: super cheap in certain retail locations. But then you can

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Speaker 1: also search for items and maybe you'll find just a

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Speaker 1: much better deal in a local brick and mortar store

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Speaker 1: than you would ordering from an online retailer. So it's

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Speaker 1: just like one more place that people can check in

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Speaker 1: order to try to find a better price. Yeah, you

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Speaker 1: can't beat those aggregators, right, because we don't have the

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Speaker 1: time to to go from website to website trying to

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Speaker 1: find the best deal. Sometimes you need an aggregator like

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Speaker 1: this calling all my local electronics retailers. And that's not

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Speaker 1: what I'm gonna do. That's not not how I'm gonna

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Speaker 1: spend my time making associates walk the aisles on prices

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Speaker 1: for me. Dude, they don't even do that anymore. Like

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Speaker 1: that's the thing. If you actually try to call up

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Speaker 1: a place, very few employees are gonna say, yeah, let

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Speaker 1: me go check check the price on that, Like they

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Speaker 1: won't do that. And so having I agreement, this is great,

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Speaker 1: having the convenience of being able to shop online without

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Speaker 1: paying sort of like that additional fee for shopping online

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Speaker 1: and not looking for those local deals. I see this

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Speaker 1: as as being a great site because man, I love

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Speaker 1: shopping online. I do not like shopping in person anymore.

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Speaker 1: I think store closures during the pandemic only kind of

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Speaker 1: reinforce It's like, oh, yeah, this is this is how

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Speaker 1: things should be for me. Yeah, literally like things showing up.

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Speaker 1: The only store I go into anymore, the grocery store. Seriously, Yeah,

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Speaker 1: that's the way it feels. Specifically, Aldi, have you been

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Speaker 1: up to Costco recently? You gotta make sure you have

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Speaker 1: your mask though. That's right now you always have to

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Speaker 1: wear a mask and costs me. Aldi. You know they

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Speaker 1: implement the mask thing too, but I guess it just

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Speaker 1: wasn't like this national announcement like when Costco did it. Yeah. No,

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Speaker 1: I've been to Costco a couple of times since the

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Speaker 1: mask mandate went into place, and I feel like they've

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Speaker 1: run things really really well, the top down communication to

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Speaker 1: the employees and then the way the employees are implementing,

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Speaker 1: you know, the social distancing at the checkout and stuff

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Speaker 1: like that. They've done just a fantastic job through this.

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Speaker 1: The real question is can you buy a box of

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Speaker 1: five masks at Costco? Not a five founder but I

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Speaker 1: think you get a box of fifty yeah yeah, yeah, so,

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Speaker 1: which is still like ten times more than what you

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Speaker 1: could probably buy it Aldi, right, yea, which is like,

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Speaker 1: here's a small package of five mask It's really cheap.

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Speaker 1: And then get out of here exactly, return your card,

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Speaker 1: take your quarterback. All right, man, let's go ahead and

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Speaker 1: introduce our beer for this episode. We were drinking a

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Speaker 1: Hydrus double I p A. This is by Two Tides Brewing. Uh,

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Speaker 1: this is another one that you picked up while you

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Speaker 1: were down there with your bride down in Tybee for

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Speaker 1: a little anniversary trip. Man, I'm looking forward to sharing

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Speaker 1: this one with you on the show, and yeah, talking

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Speaker 1: about it at the end of the episode too. All Right,

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Speaker 1: but let's get onto the subject in hand for today.

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Speaker 1: Today we're discussing overcoming common financial mistakes. And some money

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Speaker 1: mistakes are small and the impact is more like a

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Speaker 1: blip on our radar, Right, it's not that big of

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Speaker 1: a deal. Other money mistakes can be like an albatross

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Speaker 1: and they weighs us down for for years to come.

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Speaker 1: But whether our mistake is more of a bump of

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Speaker 1: the road or if we've made a mistake that will

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Speaker 1: impact us for a long time to come, it's important

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Speaker 1: to learn how to overcome these mistakes so we can

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Speaker 1: move on and start kicking butt with our money again. Yeah,

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Speaker 1: this episode, we're gonna cover some common mistakes that we

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Speaker 1: make how we can pivot to handling money well. In

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Speaker 1: those circumstances as well as some important behavioral changes we

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Speaker 1: all need to make so that our mistakes don't weigh

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Speaker 1: us down for too long, creating like a quicksand like effect. Matt,

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Speaker 1: you always like referring about to quicksand Yeah, and but

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Speaker 1: like if we do that, if we let those mistake

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Speaker 1: like overwhelm us and keep us down for too long,

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Speaker 1: it does kind of make it harder for us to

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Speaker 1: move forward. It feels like our our feet are stuck

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Speaker 1: um and and so yeah, we have to talk about

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Speaker 1: how to like get past those things once so they

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Speaker 1: don't happen again and too, so that we can you know,

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Speaker 1: move forward a plow ahead. Yeah, you know my favorite

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Speaker 1: quicksand reference uh Super Mario Brothers too. It's one of

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Speaker 1: the underrated Super Mario Brothers, but the on the original

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Speaker 1: and e s uh Super super Mario Brothers too had

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Speaker 1: quicksand and that was the one where the levels were

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Speaker 1: like vertical as well as horizontal, so you could like

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Speaker 1: drop down quicksand drop down to different levels, pull turn

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Speaker 1: ups and other vegetables up out of the ground. I

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Speaker 1: think Superrio three was my favor, but two was well.

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Speaker 1: Three was through his classic because you could fly. But

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Speaker 1: two is Yeah, that one was pretty good, so good

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Speaker 1: to underrated for sure. Okay, let's let's get back to

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Speaker 1: financial mistakes. Though. You know, I think that the biggest

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Speaker 1: problem here isn't that we make mistakes, right, because we've

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Speaker 1: talked about this. We all screw up from time to time.

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Speaker 1: But in fact, I think the real issue is when

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Speaker 1: we don't learn from those mistakes. Right. You know, on

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Speaker 1: the surface, this seems like maybe a pretty straightforward thing, right,

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Speaker 1: you know, we make a mistake, we see the consequence

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Speaker 1: is of it, and we learn and then we just

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Speaker 1: need to avoid doing it again. Simple recipe, right. But

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Speaker 1: the thing is, it's a little trickier than that, because

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Speaker 1: you know, like you have to ask yourself, are you

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Speaker 1: just addressing the symptom of your mistake or are you

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Speaker 1: actually getting to the core of the issue. That's why

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Speaker 1: it's important to ask the question why are we bad

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Speaker 1: with our money? Right? Well, it might give us a

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Speaker 1: little bit of comfort to know that everyone does make

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Speaker 1: some occasional money errors, that doesn't get us any closer

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Speaker 1: to handling our own personal finances better. So yeah, let's

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Speaker 1: go ahead and get to that. Let's let's address the

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Speaker 1: why here. Sure, Yeah, I think I'm gonna think First

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Speaker 1: of all, it's just a really intimidating topic for a

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Speaker 1: lot of people money in general, and when something's intimidating

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Speaker 1: or a little bit scary, we tend to avoid those things.

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Speaker 1: I think it's really the biggest reason why so many

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Speaker 1: people make money mistakes. Money feels like a big bad boogeyman,

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Speaker 1: and they're just don't want to go anywhere near it.

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Speaker 1: So like, for example, like a lot of people are

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Speaker 1: intimidated by the idea of going to a gym to

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Speaker 1: work out, right, all the types of fancy equipment, all

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Speaker 1: the super fit folks there who know what they're doing.

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Speaker 1: I mean, I'll be out hasting judgment on you once

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Speaker 1: they see you walk through the door, Like look at

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Speaker 1: this tall skin. You get exactly who's like, who's biceps invert?

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Speaker 1: You know, like it's it's I feel like that is

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Speaker 1: something that has kept me from going to the gym before.

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Speaker 1: It almost feels like you've got to get fit before

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Speaker 1: you going the gym so you can fit in. But

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Speaker 1: I think it's again similar with money, where um, where

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Speaker 1: there's like a barrier to entry and we're a little

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Speaker 1: freaked out and that definitely leads to a lot of

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Speaker 1: mistakes that we make because we just avoid the subject altogether. Yeah, totally, man.

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Speaker 1: And you know, oftentimes I think the reason that it

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Speaker 1: can be intimidating is because we're ignorant, right, Like that's

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Speaker 1: not to say someone is a complete idiot, but that

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Speaker 1: they just simply lack the knowledge about a specific topic.

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Speaker 1: You know, Like personally, I'm ignorant of a lot of

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Speaker 1: different things out there, Like a lot of times I

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Speaker 1: was because I choose to like, there are things that

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Speaker 1: don't pertain to me. But once we've identified that this

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Speaker 1: is something I need to pay attention to, that's when

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Speaker 1: it's time to fix it, you know. And so in

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Speaker 1: the gym example, like if I knew the proper way

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Speaker 1: to say, perform a power clean, you know, even if

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Speaker 1: I was just getting started working out, like I would

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Speaker 1: be able to have the confidence and know that I'm

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Speaker 1: doing it the right way that would give me the

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Speaker 1: that would encourage me to continue going right. And the

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Speaker 1: same thing is true with our money. Most of us

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Speaker 1: don't have parents who taught us many of these lessons,

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Speaker 1: and so because that we lack the proper know how,

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Speaker 1: and that's oftentimes a thing part of the reason why

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Speaker 1: we are so intimidated as well, it's knowledge. Yeah, I

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Speaker 1: completely agree. I think the lack of knowledge is definitely

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Speaker 1: an important key to this. And and we've talked about

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Speaker 1: this before, just that almost none of us were taught

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Speaker 1: about personal finances growing up in school or at home,

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Speaker 1: and that definitely only increases the intimidation and ignorance factors.

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Speaker 1: So consistently learning about money so you aren't in the

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Speaker 1: dark about how to handle money well is important. And

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Speaker 1: know that you can't learn everything overnight. I think that's

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Speaker 1: one thing people try to do, is like, can I

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Speaker 1: imask everything I need to know about money in a

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Speaker 1: few days or a week so that I'll be okay?

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Speaker 1: And sometimes not the questions that we get even it's

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Speaker 1: like I really want to fix this, but I want

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Speaker 1: the quick solution, um, And there's not always a quick

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Speaker 1: solution in just the nature of personal finances to it

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Speaker 1: just takes a long time to save up your money.

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Speaker 1: It takes a long time to kind of straighten out

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Speaker 1: your credit, you know, like it's it's one of those things.

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Speaker 1: It's like inherently money takes time, right, and getting rich

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Speaker 1: or getting wealthy like building wealth. It it's a slow burn,

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Speaker 1: like it takes a lot of time, right, and compounding

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Speaker 1: takes years and decades to happen. Um. But you can,

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Speaker 1: I think, consistently work to increase your knowledge with podcasts, blogs,

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Speaker 1: and books once you realize that you're not informed. The

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Speaker 1: knowledge gap I think is rarely an excuse with all

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Speaker 1: the resources that are available. I think the intimidation factor

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Speaker 1: makes sense, the ignorance factor makes sense, but there are

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Speaker 1: ways to overcome those and part of that is to

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Speaker 1: seek out that knowledge consistently. Um. And there are just

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Speaker 1: a lot of people out there creating things to try

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Speaker 1: to support you in that. Yeah. And unfortunately, we live

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Speaker 1: in a culture that we know tends to avoid talking

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Speaker 1: about money, and we've seen that the more we avoid

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Speaker 1: talking about something, the more it becomes taboo. And then

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Speaker 1: you know, there's this perpetual cycle of individuals making poor

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Speaker 1: money decisions. So it's important for personal finding for that

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Speaker 1: to become a more common topic. You know, it's not

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Speaker 1: difficult for us to start, you know with maybe light

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Speaker 1: or casual conversation with our friends, like you could maybe

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Speaker 1: ask them, hey, like what did you do with the

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Speaker 1: the stimulus check back? There, you know, back in the spring.

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Speaker 1: It's something that we you know, most of us all

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Speaker 1: received where you can ask them like hey, like where

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Speaker 1: you know, where do you bank? That's also something that's

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Speaker 1: an easy question because like we all have our money

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Speaker 1: somewhere and so starting there versus like hey, how much

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Speaker 1: like what percentage of your of your paycheck do you

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Speaker 1: save every single month? Like you know, like you want

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Speaker 1: to warm up to that? Or what's your craft beer budget?

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Speaker 1: That's another good question, right, get things started, Yeah, like

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Speaker 1: what is it that you spend your money on? Yeah? Yeah,

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Speaker 1: And then also to we sometimes bank money mistakes when

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Speaker 1: we when we have the proper knowledge, we know what

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Speaker 1: we're supposed to do, right, So so it's not even

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Speaker 1: a lack of that, but we allow emotions to get

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Speaker 1: the best of us. It's whether it's fear and someone

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Speaker 1: ends up selling a bunch of funds in their retirement

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Speaker 1: as the markets tanking right and you're just scared and

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Speaker 1: that causes you to make a terrible money decision, or

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Speaker 1: maybe it's fear of missing out or agreed when you're

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Speaker 1: buying single stocks and companies you just don't know very

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Speaker 1: much about. Maybe it was a Twitter stock tip that

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Speaker 1: you saw. You're just jumping in on the hype. Yeah, exactly,

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Speaker 1: Or like somebody on CNBC randomly touted one company that's

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Speaker 1: poised to shoot through the roof and you're like, all right,

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Speaker 1: I'm in um, that is not a good idea, right.

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Speaker 1: Sometimes we're our own worst enemies when it comes to

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Speaker 1: how we handle our money, and oftentimes that is the

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Speaker 1: behavioral side, the emotional side kicking in, even when we

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Speaker 1: fundamentally know what we're supposed to do. Yeah, that's right, man.

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Speaker 1: So even though we we have the right knowledge, sometimes

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Speaker 1: it takes us changing our behavior. And actually, later on

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Speaker 1: in this episode, we're gonna talk about things that we

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Speaker 1: can do, steps that we can take that will prevent

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Speaker 1: us from making these mistakes, you know, ways that we

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Speaker 1: can alter our behavior. But first me, let's get personal.

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Speaker 1: You know, you want to share with listeners maybe a

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Speaker 1: big financial mistake that you've made at some point. It

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Speaker 1: was the Maserati I bought just yesterday. It was a

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Speaker 1: really bad decision. I thought you were gonna say, Mazda.

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Speaker 1: I was like, I love that car. Almost the Maserati

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Speaker 1: dog mad. But yeah, so I say, it's interesting. I

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Speaker 1: actually haven't made a massive financial mistake. And it's not

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Speaker 1: I'm not saying that to but but here's actually why

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Speaker 1: that's the case. Um, my parents actually made quite a

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Speaker 1: few financial mistakes when I was a kid, and those

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Speaker 1: years when I was eleven, twelve, thirteen, fourteen, I was

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Speaker 1: like just incredibly impressionable and I saw just a lot

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Speaker 1: of financial misteps that that just had a big impact

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Speaker 1: on our family. And so it's not that I haven't

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Speaker 1: made um financial mistakes in my life, but they've been

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Speaker 1: really small, Like it's nothing that I can be like

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Speaker 1: I was in fifty thou dollars of credit card tax

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Speaker 1: or anything like that. Like I actually have never paid

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Speaker 1: a diamond interest to the credit card companies. But so

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Speaker 1: much of that was essentially going through some of those

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Speaker 1: money hardships earlier on UM and learning from somebody else

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Speaker 1: struggling with money in my life, and so that was

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Speaker 1: like really hard. That's actually part of the reason I'm

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Speaker 1: so passionate about money education now and part of the

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Speaker 1: reason this podcast means so much to get to create

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Speaker 1: this together. But if I had to pick the one

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Speaker 1: thing about myself that that I've struggled with, I would

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Speaker 1: say it's the getting something on sale mentality. They just

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Speaker 1: lasted for a long time, and I still struggle with

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Speaker 1: a little bit, right. It's like, oh, if that's a deal,

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Speaker 1: I want to get it even if I don't need it,

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Speaker 1: even if I don't need it, and I might not

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Speaker 1: even use it sometimes. I mean, I've fallen into that trap.

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Speaker 1: And so just that sale mentality has been my biggest

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Speaker 1: financial mistake that I've had to grapple with consistently over

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Speaker 1: the years. But now that that's out of the way,

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Speaker 1: I want to know yours well. I mean that being said,

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Speaker 1: I feel like maybe you have improved because prime Day

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Speaker 1: came and went, man, and like you said several weeks ago,

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Speaker 1: you didn't buy a single thing. So it's not a

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Speaker 1: zero you've Yeah, you've gotten better at it. Man. Uh.

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Speaker 1: But as far as my financial mistakes, I feel like

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Speaker 1: mine were made mostly between the age of sixteen and

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Speaker 1: twenty one or twenty two. I lived really frugally, like

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Speaker 1: most of all of our mistakes in life. That's honestly

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Speaker 1: probably true. Man, Like the biggest learning period, right, it's

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Speaker 1: like your brain isn't fully developed yet, you know, not

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Speaker 1: like what you're twenty three, you think you're grown Oh

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Speaker 1: my gosh, yeah, you have some money. Uh. In my case,

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Speaker 1: specifically in college to like, I was living really really frugally.

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Speaker 1: But however, ever, since I was a teenager up until

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Speaker 1: that point, I was really into cars, not like really fancy,

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Speaker 1: high end, nice cars, but like I just had a

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Speaker 1: certain type of car that I liked, and then after

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Speaker 1: a couple of years, you know, I wanted to switch

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Speaker 1: it up, and so I'd sell it and then get

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Speaker 1: another one and kind of fix it up a little bit.

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Speaker 1: I was really into SUVs. I may have even installed

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Speaker 1: like a fancy bumper with a winch on on one

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Speaker 1: of my one of my SUVs back in the day.

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Speaker 1: But I always said a lot of money on vehicles,

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Speaker 1: you know, like I could have still had a decent Jeep,

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Speaker 1: although that's a whole other story because jeeps, you know,

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Speaker 1: cost so much money to maintain. But even having just

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Speaker 1: maybe purchased one of those instead of multiple Jeeps over

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Speaker 1: the years, I made some, yeah, some bad mistakes, and

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Speaker 1: because of that, I was parted with a lot of

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Speaker 1: that money early on. That's I guess a regret that

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Speaker 1: I have, Like looking back, I'm like, how so dumb,

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Speaker 1: But at the same time, being able to make some

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Speaker 1: of those like slightly smaller mistakes back in the day.

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Speaker 1: That's an important part of growing up, right, And so

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Speaker 1: I had I not made those errors early on, maybe

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Speaker 1: I would be making larger mistakes today. Maybe I wouldn't

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Speaker 1: be saving maybe you know, I wouldn't be doing smarter

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Speaker 1: things with my money. But but yeah, hopefully kind of

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Speaker 1: through that learning process, I think that certainly helped me

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Speaker 1: to to become who I am today. Yeah, I think

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Speaker 1: that's a that's just a positive way to view the

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Speaker 1: mistakes that we've made. I think sometimes I'm just trying

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Speaker 1: to spend it dog. I think sometimes in our culture

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Speaker 1: we tend to glorify failure or completely run away from it, Right,

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Speaker 1: Like when we look at entrepreneurs who like failed twice,

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Speaker 1: but then their third company was just this massive success,

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Speaker 1: where Like there could be the sense in which that

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Speaker 1: that failure is almost glorified, and it's like, look, the

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Speaker 1: failure led me to hear um. And we don't want

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Speaker 1: to like glorify We're not trying to encourage failure, right,

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Speaker 1: But but there is a sense too in which we

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Speaker 1: we might failure shame um. And so I think we

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Speaker 1: want to take a stand somewhere in the middle where

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Speaker 1: we say, you know what, we're not like pro failure,

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Speaker 1: but those failures will hopefully lead us to to learn

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Speaker 1: something and to make a positive change so we can

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Speaker 1: move forward. Well, but yeah, we just shared our money mistakes.

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Speaker 1: We'll get to kind of some other common ones and

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Speaker 1: then how we can go about fixing those mistakes learning

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Speaker 1: from them. And we'll get to that right after this break.

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Speaker 1: All right, man, we are back from the break. We're

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Speaker 1: talking about overcoming common financial mistakes, and so we you know,

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Speaker 1: we talked about why it is that we make these

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Speaker 1: mistakes in the in the last section. Uh, now let's

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Speaker 1: talk about you know what some of these common financial

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Speaker 1: mistakes are. Uh. One of those that we definitely want

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Speaker 1: to cover is spending more than we bring in every

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Speaker 1: single month. Sadly, way too common. Yeah, a lot of

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Speaker 1: us have have been in that position. Uh, And unfortunately

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Speaker 1: that leads to an inability to create any financial breathing

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Speaker 1: room in our lives. Right then, because of that, there

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Speaker 1: is there tends to be a reliance on credit cards,

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Speaker 1: which then often leads to debts and which and that

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Speaker 1: exacerbates the problem. Right. And the thing is, man, it's

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Speaker 1: not just people who make minimum wage that this impacts,

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Speaker 1: you know, people of all sorts of different income levels

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Speaker 1: are the ones who are struggling with this um It

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Speaker 1: also makes me think about too, like there are two

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Speaker 1: sides of the equation here. If you're not making enough money,

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Speaker 1: you can spend less and you can earn more. But

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Speaker 1: the reason that we're focusing on spending less is because

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Speaker 1: you can always earn more money. But if you haven't

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Speaker 1: mastered this principle of spending less than you make, you

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Speaker 1: are always going to to raise your spending to meet that,

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Speaker 1: you know, that level that you're earning. And so I

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Speaker 1: feel like in this case, spending lesson you make is

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Speaker 1: sort of an important principle to to have mastered before

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Speaker 1: we even start talking about earning more money, you know,

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Speaker 1: like it's just so foundational to getting ahead with your

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Speaker 1: personal finances. Yeah, that's true. And I think this is

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Speaker 1: such a big deal, Matt because when you don't have

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Speaker 1: any financial breathing room, it increases your stress levels and

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Speaker 1: it inhibits your ability to actually save for the future

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Speaker 1: and the goals that you have for down the road

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Speaker 1: in your life. Like if you're exhausting every bit or

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Speaker 1: more of what you're bringing in, you're robbing your future

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Speaker 1: self and you're making sure that those goals that you

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Speaker 1: have set out for yourself either aren't going to come

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Speaker 1: about or it's gonna be a million times more difficult

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Speaker 1: because you're gonna have bigger hurdles to overcome. So instead

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Speaker 1: of overspending every month, it's really important to cut your

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Speaker 1: spending and to do it quickly. And Matt, now we've

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Speaker 1: talked about different ways to do that. We had a

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Speaker 1: recent episode about seven ways to save more money this week,

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Speaker 1: just like about a month ago, and go back and

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Speaker 1: listen to that, because there were a lot of easy

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Speaker 1: ways to cut your spending to to bring money back

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Speaker 1: into your life. Um, but they're they're just so many

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Speaker 1: other ways you can go about it too. And I

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Speaker 1: think you're just in a really bad shape, then you

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Speaker 1: you need to get help. And uh, we've mentioned these

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Speaker 1: websites before, but NFCC dot org or money management dot

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Speaker 1: org or two great websites to go to where you

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Speaker 1: can talk to somebody for free and not for profit

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Speaker 1: debt counselor if you're in a really bad spot and

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Speaker 1: you've been doing this for way too long, that's the

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Speaker 1: direction that that Matt and I would encourage you to

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Speaker 1: go in. Yeah, let's talk about becoming a payment buyer. Man.

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Speaker 1: This is one of the ways that we're able to

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Speaker 1: easily fall into this trap of spending more than we make.

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Speaker 1: You know, only focusing on the payments is a symptom

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Speaker 1: of just getting way too comfortable with that. We we think, oh,

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Speaker 1: I can afford a six dred dollar a month car payment,

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Speaker 1: you know, without thinking about the overall cost of that car,

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Speaker 1: and we we stretched the payments out for seven years

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Speaker 1: instead of three or four, which which would just make

428
00:18:49,680 --> 00:18:51,920
Speaker 1: so much more sense financially in our lives because we

429
00:18:52,080 --> 00:18:54,399
Speaker 1: become payment buyers. Yeah. And unfortunately too, it's it's not

430
00:18:54,520 --> 00:18:57,399
Speaker 1: just on big things like a car. Um Like, folks

431
00:18:57,440 --> 00:19:00,399
Speaker 1: are getting payment plans for anything from cloths to to

432
00:19:00,480 --> 00:19:03,000
Speaker 1: donal work to a new h VAC. Recently saw that

433
00:19:03,080 --> 00:19:05,560
Speaker 1: Microsoft they are are kind of doing this with the

434
00:19:05,600 --> 00:19:08,280
Speaker 1: new Xbox um. Instead of having to pay like five

435
00:19:08,680 --> 00:19:11,359
Speaker 1: bucks up front, they're having folks sign up for this

436
00:19:11,400 --> 00:19:14,520
Speaker 1: payment program that's stretched out over twenty four months over

437
00:19:14,560 --> 00:19:17,000
Speaker 1: two years. Uh, and this isn't good, you know. They

438
00:19:17,080 --> 00:19:19,480
Speaker 1: they're doing this obviously to soften the blow of this

439
00:19:19,560 --> 00:19:23,080
Speaker 1: massive expense in a lot of individuals lives. The real

440
00:19:23,080 --> 00:19:25,960
Speaker 1: problem here isn't that it's a monthly payment. It's the

441
00:19:26,040 --> 00:19:27,639
Speaker 1: fact that they can't get out of it. They're locked

442
00:19:27,640 --> 00:19:29,720
Speaker 1: into it. Like if you like read the fine print,

443
00:19:30,000 --> 00:19:32,159
Speaker 1: it's a no interest loan and it's not something you

444
00:19:32,160 --> 00:19:34,840
Speaker 1: can get out of. Like that's the real problem, you know,

445
00:19:34,920 --> 00:19:37,600
Speaker 1: Like I don't mind having being signed up for subscriptions,

446
00:19:37,600 --> 00:19:39,960
Speaker 1: Like I've got software that I'm a you know, subscriber

447
00:19:40,000 --> 00:19:42,320
Speaker 1: to where you know, every month there's like a tin

448
00:19:42,359 --> 00:19:43,879
Speaker 1: Bucks that, you know that comes out of my account.

449
00:19:43,920 --> 00:19:45,840
Speaker 1: It's kind of annoying, but I get it. But the

450
00:19:45,840 --> 00:19:47,359
Speaker 1: fact is I could pull the plug on that at

451
00:19:47,400 --> 00:19:49,760
Speaker 1: any point. It's when you're locked in like this and

452
00:19:49,800 --> 00:19:52,680
Speaker 1: you haven't thought about those long term ramifications, like that's

453
00:19:52,680 --> 00:19:54,560
Speaker 1: when I think it can really bite you in the butt. Yeah.

454
00:19:54,560 --> 00:19:56,280
Speaker 1: And you mentioned that that these companies do it to

455
00:19:56,280 --> 00:19:58,440
Speaker 1: try to help soften the blow, and and that's why

456
00:19:58,480 --> 00:20:00,320
Speaker 1: we do it too, Like we we want to soften

457
00:20:00,400 --> 00:20:02,600
Speaker 1: the blow to our budget, and we think that it

458
00:20:02,640 --> 00:20:04,840
Speaker 1: makes the most sense to pay something out over time,

459
00:20:05,200 --> 00:20:08,680
Speaker 1: but oftentimes that means you know, paying interest. Um, that

460
00:20:08,720 --> 00:20:12,240
Speaker 1: we wouldn't otherwise have to pay. Oftentimes it means buying

461
00:20:12,240 --> 00:20:14,600
Speaker 1: something that we can't actually afford if we have to

462
00:20:14,600 --> 00:20:17,360
Speaker 1: stretch out the payments, right, So, if you can't afford

463
00:20:17,760 --> 00:20:20,800
Speaker 1: that piece of clothing on whatever website offering to allow

464
00:20:20,840 --> 00:20:22,760
Speaker 1: you to stretch the payments over six months or a year,

465
00:20:23,080 --> 00:20:25,200
Speaker 1: if you can't afford to buy it now, straight up,

466
00:20:25,440 --> 00:20:27,520
Speaker 1: you shouldn't be buying it. Um. Those are the kind

467
00:20:27,520 --> 00:20:29,840
Speaker 1: of decisions that we we have to make. Becoming a

468
00:20:29,840 --> 00:20:32,600
Speaker 1: payment buyer is just far too common in our society,

469
00:20:32,600 --> 00:20:34,800
Speaker 1: and it's something that we should probably all start to

470
00:20:34,840 --> 00:20:37,800
Speaker 1: avoid a whole lot more. It's it's gotten too easy

471
00:20:37,880 --> 00:20:40,760
Speaker 1: to borrow money for really small items that we should

472
00:20:40,800 --> 00:20:43,000
Speaker 1: just be paying for all at once. Yeah. I feel

473
00:20:43,040 --> 00:20:44,879
Speaker 1: like every single one of those additional payments is just

474
00:20:44,920 --> 00:20:47,000
Speaker 1: like one more string in this sort of like not

475
00:20:47,240 --> 00:20:52,000
Speaker 1: a tangled mess that becomes your finances exactly, yeah, completely

476
00:20:52,080 --> 00:20:55,000
Speaker 1: all R. Let's talk about another common financial mistake in

477
00:20:55,080 --> 00:20:59,080
Speaker 1: it's neglecting your credit score. There's a segment matt of

478
00:20:59,160 --> 00:21:02,240
Speaker 1: Personal finance and that think that credit scores are meaningless

479
00:21:02,560 --> 00:21:06,280
Speaker 1: you know who you are, But but that ain't true, right, Uh?

480
00:21:06,440 --> 00:21:09,359
Speaker 1: They influence so many things in our lives. Your credit

481
00:21:09,400 --> 00:21:12,239
Speaker 1: score actually is important to stay on top of, right,

482
00:21:12,280 --> 00:21:14,040
Speaker 1: And so like staying on top of it, working to

483
00:21:14,119 --> 00:21:17,040
Speaker 1: raise your score will ensure that you qualify for lower rates,

484
00:21:17,080 --> 00:21:19,560
Speaker 1: it will help you get lower insurance premiums, and it

485
00:21:19,600 --> 00:21:23,120
Speaker 1: could even be the deciding factor in getting a new job.

486
00:21:23,200 --> 00:21:26,160
Speaker 1: You know, some jobs look at your credit score, um

487
00:21:26,200 --> 00:21:28,439
Speaker 1: depending on what sector you're working in and if there

488
00:21:28,440 --> 00:21:31,399
Speaker 1: are security clearances involved. Right. We kind of broke that

489
00:21:31,440 --> 00:21:33,920
Speaker 1: down in episode ten in episode one, Third Team, we

490
00:21:33,920 --> 00:21:36,240
Speaker 1: talked about rebuilding a rough credit score. But this is

491
00:21:36,280 --> 00:21:38,719
Speaker 1: just a facet of your personal finances where if you

492
00:21:38,880 --> 00:21:41,000
Speaker 1: play dumb or you choose not to think about it,

493
00:21:41,240 --> 00:21:43,280
Speaker 1: you're costing yourself a lot of money and a lot

494
00:21:43,320 --> 00:21:46,280
Speaker 1: of potential headache. Credit scores are important, and so you

495
00:21:46,280 --> 00:21:48,720
Speaker 1: can't neglect it. Yeah, And at the same time, it's

496
00:21:48,720 --> 00:21:50,840
Speaker 1: also important to point all that credit scores are, at

497
00:21:50,880 --> 00:21:52,359
Speaker 1: the end, all be all. You know. I think sometimes

498
00:21:52,359 --> 00:21:54,880
Speaker 1: folks can put maybe too much emphasis on the credit score,

499
00:21:54,880 --> 00:21:57,440
Speaker 1: and they're they're almost even willing to do kind of

500
00:21:57,520 --> 00:21:59,920
Speaker 1: dumb things just to get their score a little bit higher.

501
00:22:00,240 --> 00:22:03,640
Speaker 1: Perfect eight fifty and and what you're at that level,

502
00:22:03,680 --> 00:22:05,680
Speaker 1: it does not matter. But obviously if you have a

503
00:22:05,720 --> 00:22:07,600
Speaker 1: score that's hurting, you want to make sure you're taking

504
00:22:07,800 --> 00:22:10,840
Speaker 1: proper steps to to heal that credit score. But at

505
00:22:10,840 --> 00:22:12,200
Speaker 1: the same time, I think it's it's one of those

506
00:22:12,200 --> 00:22:13,879
Speaker 1: things that I think money nerds can kind of fixate

507
00:22:13,920 --> 00:22:15,600
Speaker 1: on where they're just like, I gotta get the perfect score.

508
00:22:16,040 --> 00:22:18,359
Speaker 1: There's a sweet spot, just like everything right exactly, I

509
00:22:18,400 --> 00:22:22,160
Speaker 1: gotta gotta find that balance. One other common financial money

510
00:22:22,200 --> 00:22:25,080
Speaker 1: mistake that folks make is just not paying yourself first,

511
00:22:25,160 --> 00:22:27,760
Speaker 1: or you know, like putting off investing. Basically maybe you've

512
00:22:27,760 --> 00:22:29,760
Speaker 1: cut yourself saying this where you say, like, oh, I'll

513
00:22:29,760 --> 00:22:32,360
Speaker 1: do it someday, you know, like that's a common refrain,

514
00:22:32,960 --> 00:22:35,280
Speaker 1: or well I could only invest a little bit, so

515
00:22:35,440 --> 00:22:37,840
Speaker 1: like I'll wait to until I have a little bit more.

516
00:22:38,160 --> 00:22:39,840
Speaker 1: That might be the mindset, that might be the angle

517
00:22:39,840 --> 00:22:42,240
Speaker 1: that you're taking. But every single dollar that you begin

518
00:22:42,359 --> 00:22:45,040
Speaker 1: investing now is going to sort of like take on

519
00:22:45,080 --> 00:22:48,560
Speaker 1: this life of its own, you know, beginning the incredible process,

520
00:22:48,560 --> 00:22:53,120
Speaker 1: this beautiful process of compounding your wealth over time. Even

521
00:22:53,119 --> 00:22:55,680
Speaker 1: if you can only invest you know, five, ten or

522
00:22:55,720 --> 00:22:59,000
Speaker 1: twenty bucks a month, please get started uh. And you

523
00:22:59,040 --> 00:23:01,520
Speaker 1: can even look to just apps to help you as well,

524
00:23:01,560 --> 00:23:04,560
Speaker 1: different little tactics that will give you this psychological boost.

525
00:23:04,840 --> 00:23:06,800
Speaker 1: You can look to the apps like Acorn. They can

526
00:23:06,800 --> 00:23:10,119
Speaker 1: help you to to trick yourself into saving more if

527
00:23:10,119 --> 00:23:12,240
Speaker 1: you're looking for ways to kind of get some traction,

528
00:23:12,520 --> 00:23:14,960
Speaker 1: get the ball moving forward. Yeah, and I think, especially

529
00:23:15,000 --> 00:23:17,440
Speaker 1: in recent years, Matt, this excuse of like, well, I

530
00:23:17,480 --> 00:23:19,840
Speaker 1: don't have very much to invest, it's kind of gone

531
00:23:19,840 --> 00:23:23,919
Speaker 1: by the wayside, especially as the major low cost investment

532
00:23:24,040 --> 00:23:28,040
Speaker 1: platforms have instituted really small minimums or no minimums at

533
00:23:28,080 --> 00:23:30,560
Speaker 1: all to begin the process. Right, So you don't have

534
00:23:30,640 --> 00:23:33,239
Speaker 1: to have a couple thousand dollars to get started. You

535
00:23:33,280 --> 00:23:36,320
Speaker 1: really can get started with five dollars. So great, man, Like,

536
00:23:36,320 --> 00:23:38,600
Speaker 1: we are seriously living in like the golden era of

537
00:23:38,640 --> 00:23:42,080
Speaker 1: the democratization of personal finance. Like the knowledge is there,

538
00:23:42,280 --> 00:23:44,080
Speaker 1: the access is there. You don't have to know a

539
00:23:44,119 --> 00:23:47,360
Speaker 1: guy like you can just download the app and get

540
00:23:47,400 --> 00:23:50,160
Speaker 1: started it. It's amazing. Yeah, yeah for sure. So, yeah,

541
00:23:50,200 --> 00:23:52,320
Speaker 1: that is a big money mistake, and there are ways

542
00:23:52,320 --> 00:23:55,000
Speaker 1: to overcome that mistake. Right. So those are just a

543
00:23:55,000 --> 00:23:56,639
Speaker 1: few of the common ones who wanted to highlight. But

544
00:23:56,720 --> 00:23:59,080
Speaker 1: let's talk about the overcoming part of it, Matt, how

545
00:23:59,080 --> 00:24:02,040
Speaker 1: do we overcome money mistakes in general? Let's get to

546
00:24:02,160 --> 00:24:04,840
Speaker 1: some strategies for how we identify and they start fixing

547
00:24:04,880 --> 00:24:07,280
Speaker 1: those mistakes to to make progress. We'll get to that

548
00:24:07,400 --> 00:24:18,879
Speaker 1: right after this break. Alright, Joel, we are back for

549
00:24:18,960 --> 00:24:23,399
Speaker 1: the Brakeman. We're talking about financial mistakes. We've talked about

550
00:24:23,400 --> 00:24:25,800
Speaker 1: some of the specific ones that we see a good bit,

551
00:24:26,280 --> 00:24:28,240
Speaker 1: So let's talk about how to kind of move forward after,

552
00:24:28,400 --> 00:24:30,760
Speaker 1: you know, making a money screw up. And first of all,

553
00:24:30,800 --> 00:24:32,560
Speaker 1: the first thing that you need to do is to

554
00:24:32,760 --> 00:24:36,320
Speaker 1: admit your mistake. Right. This is tougher than it sounds.

555
00:24:36,359 --> 00:24:38,359
Speaker 1: Most of us don't like to admit our failures. When

556
00:24:38,400 --> 00:24:40,639
Speaker 1: we mess up, we either pretend that they, you know,

557
00:24:40,720 --> 00:24:43,320
Speaker 1: didn't happen, or we try to minimize them. Uh So,

558
00:24:43,480 --> 00:24:46,320
Speaker 1: like we're talking earlier, right, But by admitting your mistake

559
00:24:46,400 --> 00:24:49,919
Speaker 1: and facing it straight on, that's just so crucial to

560
00:24:50,160 --> 00:24:53,840
Speaker 1: overcoming and actually making some forward progress. Yeah, you and

561
00:24:53,880 --> 00:24:56,320
Speaker 1: I are no different than any other human in that regard. Right.

562
00:24:56,359 --> 00:24:58,440
Speaker 1: I think it's hard for me to fest up to

563
00:24:58,560 --> 00:25:00,919
Speaker 1: failures or to admit a mista ache, and and to me,

564
00:25:01,000 --> 00:25:05,800
Speaker 1: I think it sounds simple, but in reality, it's fighting

565
00:25:05,800 --> 00:25:08,680
Speaker 1: every instinct in our body to admit that we were wrong. Um,

566
00:25:08,800 --> 00:25:11,479
Speaker 1: And so it's funny. I was actually on a podcast recently,

567
00:25:11,640 --> 00:25:14,359
Speaker 1: a parenting podcast who which one of my friends hosts,

568
00:25:14,520 --> 00:25:17,200
Speaker 1: and he asked me a piece of advice about how

569
00:25:17,240 --> 00:25:18,800
Speaker 1: you relate to kids, just like the last question they

570
00:25:18,800 --> 00:25:21,399
Speaker 1: ask every guest, And my piece of advice was to

571
00:25:21,480 --> 00:25:24,280
Speaker 1: apologize to your kids. I think there's something so powerful

572
00:25:24,359 --> 00:25:28,040
Speaker 1: about admitting a mistake, and especially admitting a mistake to

573
00:25:28,040 --> 00:25:30,440
Speaker 1: to your children. It creates a sense of trust and

574
00:25:30,560 --> 00:25:32,719
Speaker 1: it creates a sense of humility in the parent at

575
00:25:32,760 --> 00:25:34,280
Speaker 1: the same time, like I don't always get it right,

576
00:25:34,440 --> 00:25:36,080
Speaker 1: and that's just like I think it's such an important

577
00:25:36,160 --> 00:25:38,680
Speaker 1: dynamic in parenting, but also when it comes to money. Yeah,

578
00:25:38,680 --> 00:25:41,399
Speaker 1: that's so true, man. I think, you know, apologizing like

579
00:25:41,440 --> 00:25:43,760
Speaker 1: that and admitting mistakes, it can be difficult to do

580
00:25:44,359 --> 00:25:46,080
Speaker 1: when like your pride is on the line. But I

581
00:25:46,119 --> 00:25:48,240
Speaker 1: feel like as I've gotten older, and it's in particular

582
00:25:48,240 --> 00:25:50,280
Speaker 1: when you have kids, like I don't care about my

583
00:25:50,280 --> 00:25:53,040
Speaker 1: pride nearly as much as as I used to. It's

584
00:25:53,080 --> 00:25:54,880
Speaker 1: gone out the window. Yeah, Like I don't have time

585
00:25:54,880 --> 00:25:57,720
Speaker 1: for pride. Let's just correct the mistakes, move forward. Let's

586
00:25:57,720 --> 00:25:59,359
Speaker 1: make sure we're taking the right steps. Let's make sure

587
00:25:59,400 --> 00:26:01,199
Speaker 1: we're being caring. Let's make sure we're doing the right

588
00:26:01,200 --> 00:26:03,080
Speaker 1: thing with their money. Right. And so when you're changing

589
00:26:03,200 --> 00:26:06,000
Speaker 1: like poopy diapers and you're getting like spaghetti, you know,

590
00:26:06,040 --> 00:26:08,640
Speaker 1: cleaning spaghetti stains off the walls and stuff like that, Like, yeah,

591
00:26:08,640 --> 00:26:11,080
Speaker 1: your your expectations for a lot of things go down,

592
00:26:11,600 --> 00:26:14,000
Speaker 1: all right, So we're talking about admitting your mistake, Like

593
00:26:14,040 --> 00:26:16,040
Speaker 1: that's the context here. We're talking about how to kind

594
00:26:16,080 --> 00:26:18,879
Speaker 1: of broadly overcome any mistake out there. So that's the

595
00:26:18,880 --> 00:26:21,840
Speaker 1: first thing. Admit your mistake. Next, let's talk about minimizing

596
00:26:21,880 --> 00:26:24,879
Speaker 1: the damage. Right, Can you quickly turn the tables and

597
00:26:24,920 --> 00:26:27,199
Speaker 1: go in a different direction after you've made a mistake.

598
00:26:27,840 --> 00:26:29,840
Speaker 1: Some of these errors are going to be more easily

599
00:26:29,960 --> 00:26:33,159
Speaker 1: remedied than others. For instance, maybe you haven't been investing right,

600
00:26:33,240 --> 00:26:35,080
Speaker 1: like it's just been kind of on the back burner. Well,

601
00:26:35,240 --> 00:26:37,640
Speaker 1: that's something you can get up to speed, uh, and

602
00:26:37,640 --> 00:26:40,240
Speaker 1: and kind of resume that pretty quickly and pretty easily.

603
00:26:40,600 --> 00:26:42,280
Speaker 1: On the other hand, let's say you have a mortgage

604
00:26:42,400 --> 00:26:44,920
Speaker 1: that's too costly for your budget, Like that's gonna be

605
00:26:44,960 --> 00:26:47,199
Speaker 1: a little bit more difficult, but even still, there are

606
00:26:47,240 --> 00:26:49,679
Speaker 1: ways to minimize that, right. Uh, it just might take longer.

607
00:26:49,880 --> 00:26:51,840
Speaker 1: You could rent out a room, maybe you can even

608
00:26:51,920 --> 00:26:53,840
Speaker 1: sell your home to downsize, or you can kind of

609
00:26:53,880 --> 00:26:56,240
Speaker 1: rent that house out. There are ways that you can

610
00:26:57,160 --> 00:27:00,760
Speaker 1: correct these wrongs, ways that you can of mine the damage.

611
00:27:00,800 --> 00:27:02,520
Speaker 1: It could be a quick fix or it might be

612
00:27:02,560 --> 00:27:04,720
Speaker 1: something that takes you know, months or even years. Yeah,

613
00:27:04,880 --> 00:27:07,240
Speaker 1: and Matt, we were just talking about pride. Sometimes to

614
00:27:07,280 --> 00:27:10,640
Speaker 1: minimize the damage, it means doing something that that brings

615
00:27:10,640 --> 00:27:12,600
Speaker 1: a little humility into your life, and it does mean

616
00:27:13,000 --> 00:27:15,040
Speaker 1: letting go of some of your pride because maybe you

617
00:27:15,080 --> 00:27:17,320
Speaker 1: don't want to rent out a room in your house

618
00:27:17,320 --> 00:27:19,760
Speaker 1: when your family lives there. It's a little embarrassing. It

619
00:27:19,800 --> 00:27:21,760
Speaker 1: might be embarrassing and the kids might be like, huh,

620
00:27:21,800 --> 00:27:24,159
Speaker 1: who's living down in the basement now, But it's one

621
00:27:24,160 --> 00:27:27,320
Speaker 1: of those things where it's your new uncle, Tony. That's

622
00:27:27,320 --> 00:27:30,159
Speaker 1: one of those things to write the financial ship to

623
00:27:30,240 --> 00:27:32,800
Speaker 1: overcome the mistake, you might have to do something that

624
00:27:32,920 --> 00:27:34,679
Speaker 1: is going to eat into your pride in order to

625
00:27:34,720 --> 00:27:37,000
Speaker 1: get your finances back on the right track. So, yeah,

626
00:27:37,080 --> 00:27:39,320
Speaker 1: just one of those things right, to minimize the damage

627
00:27:39,600 --> 00:27:42,080
Speaker 1: is super important. Um. And on that note, Matt, the

628
00:27:42,119 --> 00:27:44,040
Speaker 1: sunk cost fallacy is an important thing to kind of

629
00:27:44,080 --> 00:27:46,400
Speaker 1: mention here. I think there's so many ways in which

630
00:27:46,920 --> 00:27:50,359
Speaker 1: we could easily see how the sunk cost fallacy impacts us,

631
00:27:50,400 --> 00:27:53,440
Speaker 1: but often in the moment it's hard to recognize. Like,

632
00:27:53,440 --> 00:27:56,359
Speaker 1: like how we keep reading uh, really crummy book because

633
00:27:56,400 --> 00:27:58,359
Speaker 1: we feel like we're pot committed. I'm like, fifty pages in,

634
00:27:58,480 --> 00:27:59,960
Speaker 1: I want to know what happens, even though it's a

635
00:28:00,200 --> 00:28:04,640
Speaker 1: boring read. But we do the same thing with financial decisions. Well,

636
00:28:04,760 --> 00:28:06,399
Speaker 1: I guess I have to keep that car because I

637
00:28:06,400 --> 00:28:08,760
Speaker 1: have a payment for the next three years. No, you

638
00:28:08,800 --> 00:28:10,760
Speaker 1: don't have to do that, right, even if you're gonna

639
00:28:10,760 --> 00:28:13,000
Speaker 1: lose money on the transaction or you're a little upside down,

640
00:28:13,040 --> 00:28:15,280
Speaker 1: you gotta bring some money to the table to get

641
00:28:15,359 --> 00:28:17,520
Speaker 1: rid of that car, it still makes sense to get

642
00:28:17,560 --> 00:28:20,160
Speaker 1: out from under it in order to avoid losing even

643
00:28:20,200 --> 00:28:22,280
Speaker 1: more money in the future. So yeah, I think when

644
00:28:22,280 --> 00:28:24,800
Speaker 1: we're talking about minimizing the damage, we have to overcome

645
00:28:24,880 --> 00:28:27,680
Speaker 1: the stunt cost fallacy at the same time. And once

646
00:28:27,920 --> 00:28:30,720
Speaker 1: you've minimized the damage, once you stop that bleeding. We

647
00:28:30,760 --> 00:28:33,879
Speaker 1: can begin to move forward, and an important part of

648
00:28:33,920 --> 00:28:36,960
Speaker 1: moving forward is to not make that mistake again. Right.

649
00:28:36,960 --> 00:28:38,760
Speaker 1: I feel like that's part of the healing process, is

650
00:28:38,800 --> 00:28:42,840
Speaker 1: to not reopen that wound. Is the tourniquet. Uh, it's

651
00:28:42,840 --> 00:28:45,600
Speaker 1: important to you know, to remember the pain of a

652
00:28:45,600 --> 00:28:48,440
Speaker 1: previous money mistake, but then to implement changes that will

653
00:28:48,440 --> 00:28:51,480
Speaker 1: help you to avoid making that same mistake again. So

654
00:28:51,560 --> 00:28:54,000
Speaker 1: let's continue with that new car example that you just said.

655
00:28:54,360 --> 00:28:57,000
Speaker 1: It's not a terrible decision for everybody right to get

656
00:28:57,000 --> 00:28:59,040
Speaker 1: a new car. But if you did purchase a new

657
00:28:59,120 --> 00:29:01,280
Speaker 1: vehicle and you have a problem affording the payments, or

658
00:29:01,280 --> 00:29:03,600
Speaker 1: maybe you realize that it's not worth the money, well,

659
00:29:03,640 --> 00:29:05,719
Speaker 1: next time, stick to a car that's gonna be more

660
00:29:05,760 --> 00:29:08,920
Speaker 1: affordable that you can buy with cash. However, if you

661
00:29:09,120 --> 00:29:11,560
Speaker 1: don't learn from your mistake and you do the same

662
00:29:11,600 --> 00:29:14,720
Speaker 1: thing again, basically you're kind of just digging yourself into

663
00:29:14,760 --> 00:29:17,240
Speaker 1: the same hole again. It's clear that you haven't learned

664
00:29:17,240 --> 00:29:18,959
Speaker 1: from that mistake and that's not the position you want

665
00:29:19,000 --> 00:29:20,680
Speaker 1: to find yourself in. Yeah, that that happens to a

666
00:29:20,720 --> 00:29:22,440
Speaker 1: lot of people mat where they earn a car for

667
00:29:22,440 --> 00:29:23,760
Speaker 1: a couple years and they're like I don't really like

668
00:29:23,800 --> 00:29:25,840
Speaker 1: this one. I want another one. And they trade in

669
00:29:25,840 --> 00:29:27,640
Speaker 1: that car, they roll in the old loan into a

670
00:29:27,680 --> 00:29:30,080
Speaker 1: new one. They oh, way more than the new car

671
00:29:30,200 --> 00:29:34,120
Speaker 1: is worth by far now because they've essentially a double

672
00:29:34,200 --> 00:29:36,280
Speaker 1: down on the mistake. And it sounds like me in

673
00:29:36,360 --> 00:29:39,600
Speaker 1: college minus the payments. I never did it with payments,

674
00:29:39,600 --> 00:29:42,360
Speaker 1: thank goodness. But but yeah, so Matt, when we say

675
00:29:42,400 --> 00:29:44,480
Speaker 1: stop making the mistake, I feel like it's often easier

676
00:29:44,480 --> 00:29:46,240
Speaker 1: said than none. And I think stating it that way

677
00:29:46,320 --> 00:29:48,600
Speaker 1: to someone, it's probably not a really helpful thing to

678
00:29:48,640 --> 00:29:50,880
Speaker 1: say just stop doing It's just stop doing it. Man's

679
00:29:50,880 --> 00:29:53,160
Speaker 1: putting an idiot. But we're trying to provide, Like within

680
00:29:53,200 --> 00:29:56,120
Speaker 1: that phrase, I think there's a whole lot we can unpack, right, Yeah, Well,

681
00:29:56,160 --> 00:29:58,520
Speaker 1: so earlier we talked about our behavior, like even though

682
00:29:58,560 --> 00:30:00,840
Speaker 1: we might know the right thing to do, like we

683
00:30:00,880 --> 00:30:03,600
Speaker 1: have knowledge, right, Like that's the solution to not knowing,

684
00:30:03,640 --> 00:30:04,800
Speaker 1: Like if you don't know how to do something, you

685
00:30:04,800 --> 00:30:06,640
Speaker 1: get knowledge, then you know how to do something. But

686
00:30:06,680 --> 00:30:08,920
Speaker 1: then additionally, behavior, like that's the other aspect of it

687
00:30:09,240 --> 00:30:10,760
Speaker 1: that we need to make sure that we're staying on

688
00:30:10,800 --> 00:30:12,440
Speaker 1: top of. Because even though we know the right thing

689
00:30:12,440 --> 00:30:15,040
Speaker 1: to do. That doesn't always mean that we are going

690
00:30:15,120 --> 00:30:17,120
Speaker 1: to actually do the right thing right right. Yeah, So

691
00:30:17,120 --> 00:30:19,760
Speaker 1: so let's talk about some of those positive behavioral steps

692
00:30:19,760 --> 00:30:21,760
Speaker 1: so we can take, and one of them is getting

693
00:30:21,960 --> 00:30:25,840
Speaker 1: some accountability, like a personal finance partner for life. It's

694
00:30:25,840 --> 00:30:28,240
Speaker 1: just really helpful to have someone to talk with about

695
00:30:28,440 --> 00:30:32,040
Speaker 1: earning money, saving and investing, and definitely someone to talk

696
00:30:32,040 --> 00:30:35,000
Speaker 1: about before you make a major purchase in your life

697
00:30:35,080 --> 00:30:38,560
Speaker 1: or have a major expense, someone to bounce things off of.

698
00:30:38,960 --> 00:30:43,360
Speaker 1: Whether that's your partner, spouse, best friend, um, uncle, aunt, like,

699
00:30:43,480 --> 00:30:46,200
Speaker 1: it doesn't matter, but find somebody who knows a little

700
00:30:46,240 --> 00:30:48,080
Speaker 1: bit more than you. It can kind of help you

701
00:30:48,200 --> 00:30:50,360
Speaker 1: be thoughtful about your money. I think it's such an

702
00:30:50,440 --> 00:30:53,360
Speaker 1: underrated thing right in the money space, is to have

703
00:30:53,400 --> 00:30:56,120
Speaker 1: someone that you can talk to and have frank conversations

704
00:30:56,160 --> 00:30:58,160
Speaker 1: about the things that you're going through. Yeah, I mean

705
00:30:58,160 --> 00:30:59,920
Speaker 1: I would even counter because you said, like, look to

706
00:31:00,000 --> 00:31:01,920
Speaker 1: somebody who maybe knows a little bit more than you

707
00:31:02,000 --> 00:31:03,440
Speaker 1: or might be like kind of further down that path.

708
00:31:03,480 --> 00:31:06,560
Speaker 1: But even just talking to appear like somebody who isn't you,

709
00:31:07,440 --> 00:31:09,680
Speaker 1: like somehow like what we're trying to do here is

710
00:31:09,680 --> 00:31:11,960
Speaker 1: get you out of your own head because so often

711
00:31:12,000 --> 00:31:14,440
Speaker 1: it's so easy for us man to stay like siloed

712
00:31:14,440 --> 00:31:17,560
Speaker 1: and isolated within our own worlds, where people have no

713
00:31:17,600 --> 00:31:20,320
Speaker 1: idea what's going on with our money. We can make purchases,

714
00:31:20,560 --> 00:31:23,240
Speaker 1: they show up disguise in these brown cardboard boxes, so

715
00:31:23,280 --> 00:31:25,120
Speaker 1: nobody knows what we're getting and what we're bringing into

716
00:31:25,120 --> 00:31:27,320
Speaker 1: our lives and we're spending all of this money. But

717
00:31:27,480 --> 00:31:30,680
Speaker 1: just opening yourself up to being able to talk about

718
00:31:30,720 --> 00:31:32,720
Speaker 1: these things with somebody else is so important. And you know,

719
00:31:32,760 --> 00:31:36,240
Speaker 1: we talked about reducing the amount of taboo around personal

720
00:31:36,280 --> 00:31:38,800
Speaker 1: finance by just striking up a conversation with a friend.

721
00:31:38,840 --> 00:31:41,440
Speaker 1: But that's I mean, that's the first step in getting

722
00:31:41,560 --> 00:31:44,000
Speaker 1: a personal finance partner, right. You want to make sure

723
00:31:44,080 --> 00:31:46,120
Speaker 1: you're able to have a good conversation with somebody, and

724
00:31:46,120 --> 00:31:48,560
Speaker 1: if that's somebody who you can then kind of take

725
00:31:48,600 --> 00:31:51,920
Speaker 1: that conversation further. Who doesn't run away screaming because they

726
00:31:51,960 --> 00:31:54,720
Speaker 1: started talking about money? That I mean, that's essentially an

727
00:31:54,760 --> 00:31:57,400
Speaker 1: accountability partner. Uh. And I know Joel like for you

728
00:31:57,400 --> 00:31:59,360
Speaker 1: and I like you. We have found our relationships so

729
00:31:59,400 --> 00:32:02,240
Speaker 1: incredibly help full in this way. Basically how the podcast started,

730
00:32:02,240 --> 00:32:03,920
Speaker 1: you know, we would kick around these you know, personal

731
00:32:03,960 --> 00:32:06,280
Speaker 1: finance ideas, are investing in real estate back and like

732
00:32:06,320 --> 00:32:08,360
Speaker 1: that was essentially kind of how it started. But that's

733
00:32:08,360 --> 00:32:10,840
Speaker 1: just so helpful for us to have somebody to to

734
00:32:10,880 --> 00:32:12,080
Speaker 1: kind of be like, hey, what do you think about this,

735
00:32:12,200 --> 00:32:15,000
Speaker 1: or like, I'm thinking about doing this. Uh, It's so

736
00:32:15,040 --> 00:32:17,640
Speaker 1: incredibly helpful. Obviously, in both of our cases, we both

737
00:32:17,640 --> 00:32:20,880
Speaker 1: have wives, and so like, our spouses are such an

738
00:32:20,880 --> 00:32:24,240
Speaker 1: important part of our lives obviously, but they should be

739
00:32:24,280 --> 00:32:26,920
Speaker 1: a big part of everybody's personal finances as well. Like,

740
00:32:27,080 --> 00:32:29,720
Speaker 1: I think when individuals kind of have their own money

741
00:32:30,000 --> 00:32:32,920
Speaker 1: where that's a topic of conversation that never ever comes up,

742
00:32:33,080 --> 00:32:35,440
Speaker 1: I think that's not super healthy. I think it's okay

743
00:32:35,440 --> 00:32:37,280
Speaker 1: to have your own money where you have like you know,

744
00:32:37,400 --> 00:32:39,280
Speaker 1: it's earmarked for you and you can spend it however

745
00:32:39,280 --> 00:32:41,160
Speaker 1: you however you want. That's you know, that's fine. That's

746
00:32:41,160 --> 00:32:43,000
Speaker 1: not what I'm talking about here. I'm talking about the

747
00:32:43,000 --> 00:32:46,080
Speaker 1: conversation of your money together. I think it's so important

748
00:32:46,120 --> 00:32:48,160
Speaker 1: to make sure that if you have a partner that

749
00:32:48,200 --> 00:32:51,200
Speaker 1: you're committed to, that that's something that you are talking about. Yeah,

750
00:32:51,320 --> 00:32:53,800
Speaker 1: And I think it's okay when one partner kind of

751
00:32:53,840 --> 00:32:56,120
Speaker 1: shares the burden of most of the money load. We

752
00:32:56,160 --> 00:32:58,480
Speaker 1: all divvy up chores in different ways in our house, right,

753
00:32:58,480 --> 00:33:00,800
Speaker 1: But but I think it does need to be probably

754
00:33:00,840 --> 00:33:03,200
Speaker 1: at least along the lines of like an eight twenty

755
00:33:03,280 --> 00:33:05,920
Speaker 1: where where the partner who's less involved needs to be

756
00:33:05,960 --> 00:33:08,640
Speaker 1: involved to a certain degree. Right, Because if you're completely

757
00:33:08,720 --> 00:33:10,840
Speaker 1: checked out of the conversation, um, I just don't think

758
00:33:10,880 --> 00:33:13,800
Speaker 1: it's good overall for for the health of your relationship

759
00:33:14,000 --> 00:33:15,800
Speaker 1: and the health of your finances. Yeah, it doesn't put

760
00:33:15,800 --> 00:33:17,840
Speaker 1: you as an individual in a great position down the

761
00:33:17,920 --> 00:33:20,360
Speaker 1: road or or anything you know, unfortunate or weird to

762
00:33:20,440 --> 00:33:23,360
Speaker 1: come up, Yeah, for sure. And that one other really

763
00:33:23,400 --> 00:33:26,600
Speaker 1: important tool to help us stop making the mistakes is

764
00:33:26,640 --> 00:33:30,400
Speaker 1: to increase the level of automation in our personal financial lives.

765
00:33:30,680 --> 00:33:33,200
Speaker 1: And we all have moments of clarity when we're more

766
00:33:33,280 --> 00:33:36,440
Speaker 1: likely to make the right decision, and during those rational moments,

767
00:33:36,720 --> 00:33:38,840
Speaker 1: that's when we should be setting up the rules that

768
00:33:38,880 --> 00:33:42,160
Speaker 1: dictate where our money goes. That way, in times of forgetfulness,

769
00:33:42,160 --> 00:33:44,720
Speaker 1: when our willpower might not be as strong like we're

770
00:33:44,760 --> 00:33:47,200
Speaker 1: we're still set up to do the right thing. And

771
00:33:47,200 --> 00:33:50,600
Speaker 1: whether that's automatically paying your credit card in full every

772
00:33:50,600 --> 00:33:53,320
Speaker 1: single month so you don't forget um to pay that bill,

773
00:33:53,480 --> 00:33:57,160
Speaker 1: or automatically increasing your four one K contribution every single year.

774
00:33:57,480 --> 00:33:59,560
Speaker 1: Setting things up once and then taking them off of

775
00:33:59,600 --> 00:34:02,120
Speaker 1: your months to do list is so key to avoiding

776
00:34:02,120 --> 00:34:05,120
Speaker 1: potential mistakes in the future. Right, So yeah, I think

777
00:34:05,160 --> 00:34:09,239
Speaker 1: having that personal finance accountability partner and then increasing the

778
00:34:09,320 --> 00:34:11,960
Speaker 1: level of automation in your life there's just two really

779
00:34:12,000 --> 00:34:15,680
Speaker 1: really robust methods for stopping making some of the mistakes

780
00:34:15,719 --> 00:34:18,439
Speaker 1: that we commonly make and that might pop up again

781
00:34:18,480 --> 00:34:20,759
Speaker 1: and again. Totally, Yeah, dude, I think there are some

782
00:34:20,760 --> 00:34:22,680
Speaker 1: folks who might kind of discount automation a little bit

783
00:34:22,680 --> 00:34:24,520
Speaker 1: because they're like, oh, that's not you're not really like

784
00:34:24,560 --> 00:34:26,480
Speaker 1: doing the hard work of like making sure you're you're

785
00:34:26,480 --> 00:34:29,520
Speaker 1: staying disciplined and doing the right thing. But obviously we

786
00:34:29,560 --> 00:34:32,080
Speaker 1: don't feel that way. We feel that automation is such

787
00:34:32,120 --> 00:34:34,440
Speaker 1: an important tool. Well, money shouldn't be like boot camp, man,

788
00:34:34,680 --> 00:34:36,600
Speaker 1: you know, like at times it might need to be,

789
00:34:36,640 --> 00:34:39,080
Speaker 1: but but for the most part, like money is fairly

790
00:34:39,120 --> 00:34:41,120
Speaker 1: easy once you know the rules and you can automate

791
00:34:41,120 --> 00:34:43,520
Speaker 1: some things. And here's why it's an eternal bootcamp you're

792
00:34:43,520 --> 00:34:47,000
Speaker 1: gonna fet your life exactly. Uh. And here's the thing too.

793
00:34:47,160 --> 00:34:49,400
Speaker 1: Once you set up these, you know, methods of automation,

794
00:34:49,600 --> 00:34:52,080
Speaker 1: what I find really interesting is the fact that this

795
00:34:52,160 --> 00:34:54,440
Speaker 1: is happening over and over. I think it begins to

796
00:34:54,520 --> 00:34:57,200
Speaker 1: change how you view things. And so even though maybe once,

797
00:34:57,440 --> 00:34:59,120
Speaker 1: like you said, Jill, like in a moment of clarity,

798
00:34:59,120 --> 00:35:01,120
Speaker 1: you thought through, this is how this is where I

799
00:35:01,120 --> 00:35:02,520
Speaker 1: want my money to go, this is how I want

800
00:35:02,520 --> 00:35:03,800
Speaker 1: to invest it, or this is how I want to

801
00:35:03,800 --> 00:35:05,960
Speaker 1: make sure I stay on top of my credit card. Well,

802
00:35:06,000 --> 00:35:08,399
Speaker 1: even immediately following that, even if like you don't really

803
00:35:08,400 --> 00:35:10,840
Speaker 1: care about that, or like maybe you're even kind of

804
00:35:10,880 --> 00:35:12,759
Speaker 1: like annoyed at yourself for having done that because you

805
00:35:12,760 --> 00:35:14,880
Speaker 1: want to do something else with your money. Over time,

806
00:35:15,000 --> 00:35:17,600
Speaker 1: as those payments are made or or as those deposits

807
00:35:17,600 --> 00:35:20,799
Speaker 1: are are automatically deposited into your retirement account, I feel

808
00:35:20,840 --> 00:35:22,960
Speaker 1: that that becomes a part of who you are. Your

809
00:35:23,000 --> 00:35:26,040
Speaker 1: identity becomes sort of attached to these things because you

810
00:35:26,080 --> 00:35:27,680
Speaker 1: are doing it, like these are things that you've set

811
00:35:27,680 --> 00:35:30,840
Speaker 1: in motion. Those actions and those behaviors, even though they're automated,

812
00:35:31,000 --> 00:35:33,239
Speaker 1: I think we still sort of absorb those and they

813
00:35:33,320 --> 00:35:35,680
Speaker 1: become a part of who we are. So I had

814
00:35:35,680 --> 00:35:37,279
Speaker 1: to say, I don't feel that automation is like a

815
00:35:37,360 --> 00:35:39,839
Speaker 1: cheat code or any sort of shortcut, because I feel

816
00:35:39,840 --> 00:35:42,920
Speaker 1: that those repeated actions, that behavior happening on a regular

817
00:35:42,960 --> 00:35:46,080
Speaker 1: basis like that it shapes who we become. I think

818
00:35:46,120 --> 00:35:48,320
Speaker 1: you're right, Matt, and I think just like habits have

819
00:35:48,520 --> 00:35:50,919
Speaker 1: a big impact on our lives, right, forming those good

820
00:35:50,920 --> 00:35:52,960
Speaker 1: habits just ensure that we're going to do the right

821
00:35:53,000 --> 00:35:56,440
Speaker 1: thing consistently. But if we have to force ourselves continually

822
00:35:56,560 --> 00:35:58,800
Speaker 1: to try to do the right thing, it's so much harder.

823
00:35:58,880 --> 00:36:02,080
Speaker 1: So so let's for the habit. Let's start the automation process,

824
00:36:02,239 --> 00:36:03,920
Speaker 1: because it's just gonna make it easier on us. Man,

825
00:36:04,239 --> 00:36:06,759
Speaker 1: We're humans prone to mistakes, and automation is just gonna

826
00:36:06,760 --> 00:36:08,680
Speaker 1: help us prevent some of them. And I think the

827
00:36:08,760 --> 00:36:12,080
Speaker 1: last thing really to talk about here when while we're

828
00:36:12,080 --> 00:36:15,760
Speaker 1: discussing overcoming financial mistakes is to let it go. Sometimes

829
00:36:15,800 --> 00:36:18,080
Speaker 1: we have to let it roll off our back, you know,

830
00:36:18,120 --> 00:36:20,640
Speaker 1: like water off a duck's back. ELS's style, Matt, can

831
00:36:20,680 --> 00:36:23,080
Speaker 1: you sing that let it go? My daughter is definitely

832
00:36:23,080 --> 00:36:25,720
Speaker 1: could and I can't see, but not on the podcast,

833
00:36:25,719 --> 00:36:27,879
Speaker 1: all right, yeah, we've we've definitely you've sang a couple

834
00:36:27,880 --> 00:36:30,439
Speaker 1: of times on the podcast before. But it's true, that's

835
00:36:30,520 --> 00:36:31,920
Speaker 1: we don't want to hear that one. Let's let's make

836
00:36:31,920 --> 00:36:33,440
Speaker 1: it a rare thing. The range is too high. You

837
00:36:33,480 --> 00:36:36,319
Speaker 1: know that's too high. But I think, um, letting it go.

838
00:36:36,480 --> 00:36:38,480
Speaker 1: Not defining yourselves, like you were talking about, the more

839
00:36:38,480 --> 00:36:40,120
Speaker 1: we automate things, the more we take the right moves,

840
00:36:40,160 --> 00:36:43,120
Speaker 1: the more we define ourselves positively. Not defining ourselves by

841
00:36:43,120 --> 00:36:45,680
Speaker 1: the mistakes that we've made is crucial to So whether

842
00:36:45,760 --> 00:36:47,840
Speaker 1: it was a lack of knowledge, like if you've just

843
00:36:47,880 --> 00:36:50,560
Speaker 1: known better, you might not have made the poor decision, well,

844
00:36:50,600 --> 00:36:53,480
Speaker 1: don't let it get you down for long. Not letting

845
00:36:53,480 --> 00:36:55,920
Speaker 1: those mistakes live in your mind and kind of haunt

846
00:36:56,000 --> 00:36:58,719
Speaker 1: you is key to moving in a more positive direction.

847
00:36:59,040 --> 00:37:02,000
Speaker 1: Beating yourself up really accomplishes nothing, right. That's what we

848
00:37:02,000 --> 00:37:04,720
Speaker 1: talked about some of these other methods for overcoming mistakes,

849
00:37:04,960 --> 00:37:06,920
Speaker 1: because that's the method that I think we're prone to.

850
00:37:07,040 --> 00:37:09,440
Speaker 1: It's just like replaying the scenario over and over in

851
00:37:09,440 --> 00:37:12,680
Speaker 1: our minds and giving ourselves grief over the mistake that

852
00:37:12,719 --> 00:37:15,040
Speaker 1: we've made. Um And ultimately that's not going to have

853
00:37:15,080 --> 00:37:18,879
Speaker 1: any positive effects preventing you from future mistakes. So let

854
00:37:18,880 --> 00:37:21,040
Speaker 1: it go, be done with it. Yeah. Again, this makes

855
00:37:21,040 --> 00:37:22,600
Speaker 1: me think of Burnet Brown. I've mentioned her on the

856
00:37:22,600 --> 00:37:24,960
Speaker 1: show before, but her book Daring Greatly, she talks about

857
00:37:24,960 --> 00:37:28,239
Speaker 1: the difference between shame and guilt. Right. Shame is when

858
00:37:28,280 --> 00:37:30,600
Speaker 1: you say that like I am a bad person, But

859
00:37:30,640 --> 00:37:32,560
Speaker 1: then guilt is realizing that like, yeah, I made a mistake,

860
00:37:32,600 --> 00:37:35,319
Speaker 1: I did a bad thing, But how can I move forward? Uh?

861
00:37:35,360 --> 00:37:37,799
Speaker 1: And she just talks about how guilt is so much

862
00:37:37,880 --> 00:37:41,200
Speaker 1: better than shames. So we're saying, don't shame yourself. However,

863
00:37:41,480 --> 00:37:43,839
Speaker 1: do accept the fact and fest up to the fact

864
00:37:43,880 --> 00:37:45,840
Speaker 1: that you're guilty. You know, if you have made a mistake,

865
00:37:45,920 --> 00:37:48,640
Speaker 1: and I think it's okay to remind yourself of that pain, uh,

866
00:37:48,719 --> 00:37:50,480
Speaker 1: you know, to help you to avoid that again in

867
00:37:50,480 --> 00:37:53,520
Speaker 1: the future, but look forward, like how can you take

868
00:37:53,560 --> 00:37:56,600
Speaker 1: what you've learned? Uh, and to ensure that this isn't

869
00:37:56,719 --> 00:37:59,359
Speaker 1: a mistake that you'll make again. Yeah for sure, Matt.

870
00:37:59,480 --> 00:38:01,239
Speaker 1: All right, Hey, let's move on to the beer that

871
00:38:01,280 --> 00:38:02,640
Speaker 1: we had on that to the beer. Let's do it.

872
00:38:02,719 --> 00:38:04,960
Speaker 1: This one was called hydrus a double I p A

873
00:38:05,000 --> 00:38:07,160
Speaker 1: by two tides brewing out of Savannah. What were your

874
00:38:07,200 --> 00:38:09,160
Speaker 1: thoughts on this one? Man, Dude, this is another fantastic

875
00:38:09,200 --> 00:38:13,400
Speaker 1: beer from a beach brewery. Like I teased about on

876
00:38:13,440 --> 00:38:15,879
Speaker 1: the last episode. They might take exception to you calling

877
00:38:15,960 --> 00:38:17,800
Speaker 1: him a beach brewer because Savannah is not a beach

878
00:38:17,840 --> 00:38:20,840
Speaker 1: town like is but but not Savannah. Yeah, it's a

879
00:38:20,840 --> 00:38:22,960
Speaker 1: really cool place. I feel the historic film they filmed

880
00:38:23,080 --> 00:38:25,200
Speaker 1: parts of forest come there, dude, they feel they filmed

881
00:38:25,200 --> 00:38:28,400
Speaker 1: everything there. Now because of the Georgia tax credits, you're

882
00:38:28,440 --> 00:38:30,759
Speaker 1: right for the movie industry. But dude, this is a

883
00:38:30,760 --> 00:38:33,400
Speaker 1: fantastic New England style I p A. This is a

884
00:38:33,440 --> 00:38:35,640
Speaker 1: double dry hop double I p A. This is simply

885
00:38:35,640 --> 00:38:37,840
Speaker 1: what that means is it's just a little bit bigger

886
00:38:37,840 --> 00:38:40,080
Speaker 1: and flavors. It had a lot more hot punch to

887
00:38:40,160 --> 00:38:43,000
Speaker 1: it had those nice, delicious bitter notes while at the

888
00:38:43,000 --> 00:38:46,000
Speaker 1: same time being balanced with a juicy U I p

889
00:38:46,120 --> 00:38:47,839
Speaker 1: A Like this. Man, I really enjoyed this one. And

890
00:38:47,840 --> 00:38:50,600
Speaker 1: this is a single that you and I are actually sharing.

891
00:38:50,840 --> 00:38:52,759
Speaker 1: Sometimes you and I we have our own beer, but

892
00:38:52,800 --> 00:38:55,520
Speaker 1: then sometimes we will share a beer. Just it just

893
00:38:55,560 --> 00:38:57,360
Speaker 1: depends on how it, you know, depends on what you

894
00:38:57,400 --> 00:39:00,919
Speaker 1: bring back. Basically, eight ounces each on this one. Yeah,

895
00:39:00,960 --> 00:39:02,760
Speaker 1: so this is a tall boy that you and I split,

896
00:39:02,840 --> 00:39:04,759
Speaker 1: so we we both only got eight ounces. I could

897
00:39:04,840 --> 00:39:07,239
Speaker 1: totally have gone for a full sixteen ounces of this.

898
00:39:07,480 --> 00:39:10,080
Speaker 1: Just note note for next time. Okay, alright, I will

899
00:39:10,280 --> 00:39:11,840
Speaker 1: know this. Yeah, this was really good. I think I

900
00:39:11,840 --> 00:39:14,319
Speaker 1: think you're right. It did really balance the bitter and

901
00:39:14,360 --> 00:39:16,759
Speaker 1: the suite, which I p A is like a really

902
00:39:16,800 --> 00:39:19,520
Speaker 1: good I PA can have both notes going on simultaneously

903
00:39:19,719 --> 00:39:21,200
Speaker 1: and I can give you the best of both worlds.

904
00:39:21,320 --> 00:39:24,080
Speaker 1: And so yeah, I just I really appreciated that um

905
00:39:24,080 --> 00:39:26,359
Speaker 1: packed with a ton of hot flavor. I'm I mean,

906
00:39:26,520 --> 00:39:29,080
Speaker 1: I've just been massively impressed with everything I had from

907
00:39:29,120 --> 00:39:31,320
Speaker 1: Two Tides. This was great. Yeah, I'm looking forward to

908
00:39:31,400 --> 00:39:33,680
Speaker 1: checking them out because, like I mentioned before, my brother

909
00:39:33,680 --> 00:39:35,759
Speaker 1: in law is moving down there, and so I'm every

910
00:39:35,800 --> 00:39:38,239
Speaker 1: single time we're we go down there, I'm definitely gonna

911
00:39:38,280 --> 00:39:40,960
Speaker 1: make sure to to swing by there. And I appreciate you.

912
00:39:41,120 --> 00:39:42,759
Speaker 1: Thanks for I bring this one back for us. Man,

913
00:39:42,840 --> 00:39:44,960
Speaker 1: happy to do it, man, Alright, Mat, that's gonna do

914
00:39:45,000 --> 00:39:47,319
Speaker 1: it for this episode. And for folks that want show

915
00:39:47,400 --> 00:39:49,400
Speaker 1: notes for this episode, just go to our website how

916
00:39:49,400 --> 00:39:52,320
Speaker 1: to Money. We've got other resources there too, including articles

917
00:39:52,360 --> 00:39:54,279
Speaker 1: that will help you save more money. And if you've

918
00:39:54,320 --> 00:39:56,120
Speaker 1: been listening to the show for a while and you

919
00:39:56,239 --> 00:39:58,680
Speaker 1: found it helpful and enjoyable. In particular, if you've really

920
00:39:58,760 --> 00:40:02,000
Speaker 1: enjoyed this episode, we would be incredibly thankful if you

921
00:40:02,080 --> 00:40:04,200
Speaker 1: were to head over to Apple Podcast leave us a

922
00:40:04,200 --> 00:40:06,719
Speaker 1: solid review over there, and maybe you've already done that.

923
00:40:06,760 --> 00:40:08,960
Speaker 1: We'll let a friend or family member know about the

924
00:40:09,000 --> 00:40:11,960
Speaker 1: show or a treasured pet only if they have opposable

925
00:40:12,000 --> 00:40:15,480
Speaker 1: thumbs and can subscribe on their smart device. Well, that's

926
00:40:15,480 --> 00:40:17,879
Speaker 1: gonna be it for this episode, Joel. Until next time,

927
00:40:18,160 --> 00:40:20,160
Speaker 1: Best Friends Out, Best Friends Out,