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

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Speaker 2: All Right, today we're talking comfy cash, resale, resurgence, and

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Speaker 2: abandoning the Internet.

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Speaker 3: All right, Joels, So comfy cash. You know what that

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Speaker 3: makes me think of? Makes me think of our old

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Speaker 3: stomping grounds back in town. In town, Atlanta, there is

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Speaker 3: a little restaurant called Homegrown, and they have this dish.

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Speaker 3: I think they still have it. It's called the Comfy

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Speaker 3: Chicken Biscuit. If they ever stop.

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Speaker 2: Selling that dish, they'll go out of business immediately, because

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Speaker 2: that is their number one.

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Speaker 1: That's their calling. Hard.

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Speaker 3: Yeah, for anybody who's not in the know, because most

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Speaker 3: of you probably don't live in Atlanta, It's just a fried,

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Speaker 3: giant fried chicken. I don't know what breasts is a

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Speaker 3: split breast or something like that on a massive biscuit,

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Speaker 3: just doused in sausage gravy. It's not good for anybody's health.

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Speaker 2: No, it's terrible for your body, very good, wonderful for

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Speaker 2: your mouth and your soul.

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Speaker 1: Right, have you been there recently? No, it's probably been

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Speaker 1: a couple years because we don't live closemore. We don't

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Speaker 1: live there.

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Speaker 3: I miss it, though, I hope it's still there, because

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Speaker 3: it's like this rundown shack. It's the kind of place

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Speaker 3: you would expect on the side of a road, like

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Speaker 3: out in the country, but they somehow got plopped into

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Speaker 3: the middle of a quite burge like developing neighborhood. I

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Speaker 3: I hope it's still I'm sure it's like constantly dark

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Speaker 3: there now with all like the kind of the skyscrapers

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Speaker 3: that are built around Sky's your that.

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Speaker 1: Is what it feels like.

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Speaker 3: Yeah, but we'll shout out to Homegrown for anybody who's

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Speaker 3: visiting Atlanta look it up.

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Speaker 1: Hopefully, hopefully it's still there.

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Speaker 2: Definitely definitely top five restaurants in my in my opinion.

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Speaker 1: I don't know if you.

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Speaker 3: Agreed, but it's just got this. It's got what you're

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Speaker 3: looking for. It's like home southern home cooking. But they

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Speaker 3: also have a bunch of weird artists fun on the

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Speaker 3: walls as well, which is makes it fun. Right at

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Speaker 3: my alley about my first black Cat tips from there, Yeah,

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Speaker 3: I was up on the wall there a favorite artist

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Speaker 3: and I loved it. So I don't know if there's

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Speaker 3: any artist that represents the vibe an aesthetic of Homegrown

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Speaker 3: than black Cats and.

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Speaker 2: Really honestly of our city at this point too. He's

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Speaker 2: like so prolific in what he's been able to create.

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Speaker 2: But Mattlas, before you get to the Friday flight, I

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Speaker 2: just want to mention this one thing. A friend of

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Speaker 2: the show, Maggie, who's actually also from Atlanta, while we're

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Speaker 2: talking about this, she.

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Speaker 3: About Atlanta Stories today Volks.

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Speaker 2: She's a content creator in the money space. She's got

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Speaker 2: a podcast stuff. But she mentioned on Instagram divergent spending

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Speaker 2: and I just never heard that term before, but it

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Speaker 2: clicked with me. I was like, this is this is

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Speaker 2: a brilliant way to think about things. It kind of

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Speaker 2: goes to our craft beer clivement. But she was talking

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Speaker 2: about how it's so weird, like she's hyper specific and

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Speaker 2: anal essentially about not spending money in some areas, like

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Speaker 2: she cuts her own hair, but then on other things

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Speaker 2: she just like that she spends freely, like buying ninety

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Speaker 2: four dollars sweatpants. She mentioned as one of those things. Dang,

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Speaker 2: I've never spent that much on sweatpants.

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Speaker 1: Did you know?

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Speaker 3: You can run them up that But it's something that

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Speaker 3: you just throwing around the house, so it doesn't matter

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Speaker 3: that they like, what bar what threshold do they have

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Speaker 3: to achieve in order to be considered fancy sweaty there

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Speaker 3: made out of specialty material.

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Speaker 2: I don't know, super coffee, soft stuff. I'm not going

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Speaker 2: to judge that, because I actually think that's awesome. I

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Speaker 2: think this is the whole kind of like the heartbeat

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Speaker 2: behind what we talk about in so many ways, which

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Speaker 2: is to enjoy your money and spend intentionally on the

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Speaker 2: things that matter to you and then dial back radically

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Speaker 2: on the things that don't. And it's just really easy

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Speaker 2: to buy into spending money the way other people think

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Speaker 2: is normal and totally the way you particularly specifically want

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Speaker 2: to spend your dollars.

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Speaker 3: Yes, okay, so this kind of reminds me of the

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Speaker 3: So last week on the podcast, we talked about the

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Speaker 3: American Dream and that it's going to cost over three million.

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Speaker 1: Dollars to basically achieve that. Yeah, and one.

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Speaker 3: We talked about a lot of things when we talked

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Speaker 3: through that story, but one of the things we didn't

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Speaker 3: discuss was the fact that I think what kind of

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Speaker 3: rubbed us the wrong way about that story was the

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Speaker 3: fact that there is some sort of stock American lifestyle

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Speaker 3: that we should be striving after, which sounds kind of terrible.

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Speaker 1: There's like, you know, I'm not hating on.

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Speaker 3: Anybody who wants the two point, However, many children in

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Speaker 3: the white picket fence that whole thing.

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Speaker 1: I should just round up or down on that one

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Speaker 1: on the kids.

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Speaker 3: As long as you are you're pursuing after that intentionally, right,

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Speaker 3: Like if you want to be you know, playing vanilla,

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Speaker 3: if you it's the kind of lifestyle that's gonna make

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Speaker 3: your parents happy, you know. And if that's the case,

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Speaker 3: if that's what you want to prioritize, more power to you.

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Speaker 1: I love it.

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Speaker 3: It's just the fact that there's sort of this default

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Speaker 3: assumption that like, don't make any assumptions about anybody out there,

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Speaker 3: whether like whether it's us or whether you know you're listening,

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Speaker 3: and you're like, yeah, I'm not gonna that's not the

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Speaker 3: kind of life I'm.

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Speaker 1: Going to lead. And we couldn't agree more.

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Speaker 3: Basically, the weirder the better when it comes to some

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Speaker 3: of the different things that light us up and the

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Speaker 3: things that we want to pursue spender money on, and

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Speaker 3: the things we don't want to spend our money on.

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Speaker 3: In Maggie's case, she doesn't want to spend money on haircuts.

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Speaker 3: I could totally get behind that. So I've cut my

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Speaker 3: hair since I was eleven years old basically, so I'm

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Speaker 3: cool with the divergence.

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Speaker 1: In that way. I'm totally with her.

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Speaker 2: Yeah, I think leaning into the divergence of and saying

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Speaker 2: and being a little more purposely different like, listen, no,

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Speaker 2: this is normally spend money. I have realized that it

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Speaker 2: doesn't move the needle for me. And guess what if

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Speaker 2: I dial back on spending that area, it means I

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Speaker 2: could funnel more towards the things that really do move

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Speaker 2: the needle for me. That's a good way to think

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Speaker 2: about it. And especially as we gate towards the end

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Speaker 2: of the year, maybe look back over your budget and say, like,

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Speaker 2: where was I spending where I could actually dial that back,

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Speaker 2: not even necessarily so I can funnel more money into

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Speaker 2: my four O one k, although that might be a

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Speaker 2: decent use of some of me to be something that

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Speaker 2: you do, but just so that you can purposely spend

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Speaker 2: beautifully in another area on fancy sweatpants or whatever it

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Speaker 2: is it lights you up, you know.

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Speaker 3: Yeah, Yeah, I could not agree more. We just want

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Speaker 3: folks to be living their life on purpose, and we

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Speaker 3: might actually get to more of those kind of themes

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Speaker 3: during during this episode. But this is our Friday Flight,

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Speaker 3: and we're gonna talk about not just Atlanta stories, but

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Speaker 3: stories we came across this past week that are.

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Speaker 1: Gonna apply to everybody out there.

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Speaker 3: And let's start first with housing, Joel, because like in

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Speaker 3: the middle of the pandemic, we got a lot of

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Speaker 3: questions out there from listeners about rising rents. It was

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Speaker 3: understandably tough to stomach that massive monthly increased for many folks.

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Speaker 3: But the tide has been turning. Renters are no longer

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Speaker 3: getting the screws turned on them, and in fact, renters

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Speaker 3: they kind of have the upper hand.

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Speaker 1: Because while the specific supply.

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Speaker 3: Of homes to buy remains low, we've seen a decent

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Speaker 3: uptick in the number of available rental units, which means

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Speaker 3: moderating rents. It means the ability to ask for concessions,

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Speaker 3: maybe in the form of a rent discount, maybe a

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Speaker 3: free month. Even hey, check with your landlord. Safe they'll

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Speaker 3: throw some stuff in for free. Like before it used

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Speaker 3: to be you that had to.

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Speaker 1: Take care of the lawn.

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Speaker 3: Maybe, hey, landlord, maybe is this something that you wanna,

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Speaker 3: you wanna take off my plate, which makes me think

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Speaker 3: like I've always offered yard service for as a landlord

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Speaker 3: because so much of the community feel and the vibe

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Speaker 3: of a neighborhood. I feel like kind of comes down

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Speaker 3: to how well the yard's kept up and I wanna

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Speaker 3: you want it to.

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Speaker 1: Lug mice for everybody.

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Speaker 3: So yeah, but some folks that may not be what

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Speaker 3: they've done and said the ability to kind of get

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Speaker 3: that thrown in. Not all runners want to want to

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Speaker 3: spend time outside or want to pay for that service.

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Speaker 2: The truth is, you know, you're right, it is a

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Speaker 2: it is a tenant market right now, and there's so

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Speaker 2: much more ability for individuals to push back, to ask

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Speaker 2: for those concessions, to ask for rent discounts. But you

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Speaker 2: got to actually do it, and you got to know

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Speaker 2: how to do it well. We'd suggest checking out episode

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Speaker 2: four sixty nine if you haven't listened to that one yet.

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Speaker 1: We interviewed an.

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Speaker 2: Expert in the industry about how to negotiate with your

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Speaker 2: landlord to reduce your rent. And you know what, when

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Speaker 2: it comes down to it, at the end of the day,

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Speaker 2: you might need to walk away and move down the street.

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Speaker 2: In a time where rents are actually not just stagnating

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Speaker 2: but going down in some markets, it's the best time

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Speaker 2: to be an informed shopper, all right, Matt. One other

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Speaker 2: way to save on rent. It's an old school model

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Speaker 2: that's back in vogue, boarding houses. But you didn't see

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Speaker 2: this one coming, did you. The New York Times wrote

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Speaker 2: about this trend and parents coming back, like cargo pants.

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Speaker 1: Do you know cargo pants are coming back? I've seen

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Speaker 1: him around.

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Speaker 2: Okay, sorry, I'm not jumping in on that trend.

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Speaker 1: Not everyone has to.

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Speaker 3: I think about all that you can store, Joel. I

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Speaker 3: was more into cargo shorts.

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Speaker 2: What are people carrying around that they need those?

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Speaker 1: I don't know.

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Speaker 3: They're giant phones and stuff. All right, that's I have pockets, right, pockets, snacks,

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Speaker 3: don't eat them on. I'm a thighs you know.

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Speaker 1: I prefer the fanny pack.

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Speaker 2: I'm way more down with the famous so than cargo pants. Yeah,

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Speaker 2: but boarding. I was just like shocked to read this article.

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Speaker 2: But it makes kind of sense because one of the

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Speaker 2: biggest benefits is that it helps reduce homelessness, which recent

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Speaker 2: stats came out about that homelessness is up in the

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Speaker 2: United States right now, which is a terrible trend. And

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Speaker 2: Nicholas Christoff in this article he says above all, this

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Speaker 2: reflects a shortage of cheap housing. And this might sound

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Speaker 2: like a devolution to going back to boarding houses. But

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Speaker 2: these aren't the boarding houses of your grandma's era, right,

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Speaker 2: These aren't like the ones from fifty to sixty years ago.

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Speaker 2: There are new fangled ways of bringing nicer boarding houses online.

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Speaker 2: So pad Split in particular a startup trying to make

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Speaker 2: it easier to find a room instead of a single

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Speaker 2: family home or a full apartment all to yourself. And

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Speaker 2: like we always say, Matt, the real win is relaxed

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Speaker 2: zoning laws like Austin has just implemented, making it easier

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Speaker 2: to increase density, which lowers prices, right ADUs, Yeah, they're

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Speaker 2: part of the solution. We talk about them on the rig.

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Speaker 2: But single rooms boarding houses, though, can be too and

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Speaker 2: so they're at least better for a whole lot of

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Speaker 2: folks than the pay by the week hotels.

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Speaker 1: That are crumbier can cost more.

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Speaker 2: And when you dig into the numbers, we're somewhere, we're

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Speaker 2: probably somewhere in the three to five million units short

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Speaker 2: range in this country. And I do think that boarding

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Speaker 2: houses are a solution at least for some folks for

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Speaker 2: a period of time.

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Speaker 1: Yeah, okay, so little trivia for you.

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Speaker 3: Pad Split the founder is from here in Atlanta, and

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Speaker 3: I know him.

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Speaker 1: Oh really yeah, no way.

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Speaker 3: We talked to him about adding on to our house

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Speaker 3: several years ago and he was like, I'm too busy

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Speaker 3: starting a really cool start. I don't think he had

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Speaker 3: started it back then. He was with a construction company, Okay,

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Speaker 3: And so he came out to the house a few times.

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Speaker 1: Got to know him. Really nice guy.

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Speaker 3: I really love the mission though that pad Split it

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Speaker 3: has now, which is finding a way to get more folks,

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Speaker 3: and how it's a similar mission as like Airbnb essentially right,

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Speaker 3: it's like, hey, you've got the space, why not use

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Speaker 3: technology here to find a way to spread that weight,

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Speaker 3: the weight of that rent across across multiple and just

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Speaker 3: like a long term Airbnb.

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Speaker 2: So just like that Nicholas Krostoff quote, I really do

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Speaker 2: think price is the major factor when it comes to homelessness.

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Speaker 2: It's not there aren't other factors to community support mental littleness,

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Speaker 2: but like drastically increasing rent and housing costs are a

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Speaker 2: massive part of the predicament we find ourselves.

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Speaker 3: Okay, So we've talked a lot about how savers are

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Speaker 3: finally not losing their shirts to inflation, and so this

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Speaker 3: year it had been a while since you've been able

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Speaker 3: to outpace inflation just in a basical high yield savings account. Well,

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Speaker 3: that changed as inflation cooled and rates at banks remained high.

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Speaker 3: But still we've cautioned against getting too comfy with your

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Speaker 3: higher interest rate where you might be tempted into saving

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Speaker 3: more than you should.

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Speaker 1: And according to.

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Speaker 3: Vanguard, gen Z investors entered twenty twenty three with a

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Speaker 3: higher cash allocation at twenty nine percent than baby boomers

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Speaker 3: at nineteen percent, which is not necessarily an encouraging number

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Speaker 3: to see. No, it's not you need certainly you need

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Speaker 3: a basic emergency fund. You want to have eventually a

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Speaker 3: fully fledged, fun full three to six months worth of

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Speaker 3: living expenses, to a side savings beyond that as well

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Speaker 3: for other goals now, but this trend just shows that

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Speaker 3: gen zers are missing out on growth. Even with a

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Speaker 3: five percent return on your savings, that is going to

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Speaker 3: pale in comparison to what your money would have done

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Speaker 3: if it was invested in the market. This year, we're

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Speaker 3: talking over twenty percent. Yeah, almost twenty four percent of fire.

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Speaker 3: It's crazy, you know, it's tough to call call it

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Speaker 3: at at this point. Who knows what it ends up

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Speaker 3: doing the rest of the year. That we wanted to

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Speaker 3: highlight the story because we want folks to know that

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Speaker 3: cash is not trash and with a long enough time horizon,

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Speaker 3: ideally you are investing the dollars that are in excess

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Speaker 3: of some of those different saving needs. And it's important

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Speaker 3: too to mention those saving needs some some of those

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Speaker 3: different savings goals. Because one thing that I'm not sure

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Speaker 3: that Vanguard like, we love Vanguard, but it kind of

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Speaker 3: makes sense at the same time, right, the ability for

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Speaker 3: younger investors to hang on to cash because.

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Speaker 1: They've got bigger purchases.

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Speaker 3: Yeah, purchases coming up in life. And so if you

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Speaker 3: are saving up, pinching off that hose a little bit

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Speaker 3: and building up a you know, your stockpiling cash in

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Speaker 3: order to pay cash for a car, or saving up

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Speaker 3: for a down payment, Yeah, that's something we can totally

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Speaker 3: get behind. But if you're avoiding investing, if you're scared,

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Speaker 3: if you're nervous, well you are who we are speaking

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Speaker 3: to right now. None of the folks who are chasing

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Speaker 3: after those some of those big American dream like goals

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Speaker 3: that they have.

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Speaker 2: Well, I think cash can feel comfortable. It can feel

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Speaker 2: kind of like a snuggie on a warm winter on

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Speaker 2: a cold winder's night. But the bigger risk you're taking

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Speaker 2: by being in cash, even with cash at elevated rates,

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Speaker 2: even with your CIIT account being north of five percent,

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Speaker 2: or even with your CD being north of five and

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Speaker 2: a half percent, is you're potentially missing out on those

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Speaker 2: dollars going to work for you, amassing even larger returns

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Speaker 2: in the coming years by being in the market. And

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Speaker 2: just to back up this point even more, new research

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Speaker 2: finds that investors who go all in on stocks end

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Speaker 2: up creating more wealth for themselves, which is not necessarily groundbreaking,

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Speaker 2: mat This is kind of you and I have had

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Speaker 2: the for people in the wealth building phase of their lives,

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Speaker 2: kind of the all stock mentality from the get go.

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Speaker 2: And when we look at history, we see that owning

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Speaker 2: stocks is better than cash, bonds and real estate over

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Speaker 2: the long haul. It's just right the best place to

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Speaker 2: have your money siphoned away. Bonds provide some psychological relief

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Speaker 2: and they make a ton of sense for older investors

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Speaker 2: who are tapping retirement funds or getting close to that point.

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Speaker 2: But in all stock portfolio, if you can stomach the

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Speaker 2: volatility without feeling compelled to make changes right when times

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Speaker 2: are tough. But in an all stock portfolio, if you

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Speaker 2: can stomach the volatility without feeling compelled to make changes

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Speaker 2: when tough times come along, going all in on stocks

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Speaker 2: inside of your tax advantaged accounts is in a student move.

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Speaker 2: And for a more in depth discussion, by the way,

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Speaker 2: on that, we'd say check out episode seven thirty four

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Speaker 2: we did with Paul Merriman. But it really is as

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Speaker 2: simple as like VT sacks or vou and chill like

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Speaker 2: it's those all stock se people five hundred or total

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Speaker 2: stock market index funds or ETFs. They're cheap, they're diversified,

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Speaker 2: and they're giving you the most exposure in those early

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Speaker 2: years to the highest likelihood of outsize gains.

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Speaker 1: Right.

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Speaker 3: Yeah, three out of four years the market goes up, y'all.

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Speaker 3: All right, jo, let's participate in a little thought experiment.

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Speaker 3: Could you ditch the internet completely? Well, we bring this

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Speaker 3: up because there's a dude who writes for The Atlantic.

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Speaker 3: He did it. He says that life is really better

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Speaker 3: without the Internet. And he didn't even do this in

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Speaker 3: an attempt to save money, but that is something that

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Speaker 3: he also accomplished, and it's not necessarily just.

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Speaker 1: The cost of Wi Fi.

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Speaker 3: Right, this is not the cost cost of internet from Comcast.

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Speaker 3: It's that he's shopping less and then on top of

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Speaker 3: that the extra time that he's been able to bring

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Speaker 3: back into his life.

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Speaker 1: And it was a really compelling story.

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Speaker 3: We're not gonna promote like a luddite lifestyle and wants

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Speaker 3: you to completely turn away from from technology. It's not

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Speaker 3: something that I don't think we could do that personally,

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Speaker 3: but I do think that we can learn something from

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Speaker 3: a digital minimalist. Minimalist like Chris Moody. He was the

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Speaker 3: author of that that article, and that's because of the

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Speaker 3: digital world. It tends to ensnare us not only with

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Speaker 3: our attention, but also our time the money that we spend.

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Speaker 3: And it's not that some of those tools that we

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Speaker 3: have access to.

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Speaker 1: Aren't helpful, but the vast majority aren't.

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Speaker 3: And the end result here I'm going to take this

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Speaker 3: is more like a Jonathan height line, but like the

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Speaker 3: technologies that we're exposed to in social media, in particular,

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Speaker 3: it leads us to unhappiness as a result of how

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Speaker 3: much time we end up spending online, and so we

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Speaker 3: just want to make sure that folks are intentionally engaging

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Speaker 3: with the technology that's around them, rather than having it

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Speaker 3: just permeate every part of their lives. I mean, like

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Speaker 3: we've talked recently to about smart watches and how the

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Speaker 3: conversations we have with folks and the distractions that they

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Speaker 3: can be to a really nice conversation and all of

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Speaker 3: a sudden they just little well you know, just a

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Speaker 3: little quick glance down all of a sudden some more

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Speaker 3: complete completely derailed.

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Speaker 1: I hate that.

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Speaker 3: Again, it's not that there can't be good, but we

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Speaker 3: want folks to be aware of the impact that it's

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Speaker 3: having on you and instead to realize that there are

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Speaker 3: other more important things in life, personal relationships and finding

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Speaker 3: other ways to engage with those who you love.

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Speaker 2: I think your attention has to be the most highly

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Speaker 2: commoditized resource at this point that you have more control

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Speaker 2: over than you think, and it's the most precious resource.

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Speaker 2: And we're constantly losing our attention, it's constantly being drawn elsewhere.

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Speaker 2: And the more we can like push back against the

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Speaker 2: things that are trying to steal our attention from us.

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Speaker 2: The happier we're going to be, the more focused we're

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Speaker 2: going to be, the more in tune we're going to

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Speaker 2: be with the people around us. I one hundred percent

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Speaker 2: I think that's the case. And there's a different level

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Speaker 2: of attention distraction that takes place these days. TV was distracting,

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Speaker 2: but like our smart watches are distracting and our phones

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Speaker 2: are distracting in a completely different way. Yeah, potentially even

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Speaker 2: a more nefarious way.

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Speaker 1: Yeah.

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Speaker 3: Well, and it's just it's the technology that presents distractions

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Speaker 3: for us, that distractions that we embrace, right because it's

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Speaker 3: entertainment or oh here's a deal, things that on the service.

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Speaker 3: You might say, oh, what's strong with that? But it's

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Speaker 3: when it's when that suppliants some of our other non financial,

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Speaker 3: more important things in life that we say are important,

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Speaker 3: but instead they.

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Speaker 1: Basically get the shaft. Yeah.

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Speaker 2: And I don't think we have to like move to

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Speaker 2: Walden in order to succeed with this. I don't think

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Speaker 2: we have to necessarily cut off our home internet connection.

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Speaker 2: But I do think it makes me think two things.

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Speaker 2: I think one that we could maybe make some more

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Speaker 2: radical moves in our lives to save money, Like sometimes

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Speaker 2: we avoid some of the tougher hurdles in order to

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Speaker 2: bring money back into our life. Like I saw actually

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Speaker 2: a tweet today from somebody who said, Hey, my car

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Speaker 2: insurance just went up massively. I only drive two thousand

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Speaker 2: miles per year.

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Speaker 1: What should I do?

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Speaker 2: And my reply was you should sell that one of those.

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Speaker 1: Cars, Like you don't need that car.

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Speaker 2: Yeah, you should ride your bike more and take Uber

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Speaker 2: a little more. But most people are unwilling to take

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Speaker 2: the step. It's that comfort blanket of having a second

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Speaker 2: car on hand, right, And so I do think there

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Speaker 2: are more radical moves we can make to save more

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Speaker 2: money in our lives think about those things, But it

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Speaker 2: also makes me think you might just want to downgrade

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Speaker 2: your internet speeds. Maybe that's something worth considering. That's true,

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Speaker 2: and Consumer Reports had an Internet speed calculator that you

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Speaker 2: can totally. You can say, hey, we have two devices

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Speaker 2: doing this, one device doing this, we're doing three email

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Speaker 2: surfing on three devices, whatever, and they'll tell you, like,

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Speaker 2: what's to megabits per second speed you need for your Internet?

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Speaker 2: Because I think a lot of people matt similar to

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Speaker 2: paying for unlimited data on their cell phone or something

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Speaker 2: like that when they don't need it. A lot of

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Speaker 2: people are overpaying for speeds. They've seen the ads going

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Speaker 2: around for gig speed internet and all this stuff, and

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Speaker 2: they're like, that sounds awesome and it's lightning fast, only

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Speaker 2: one hundred and ten dollars a month. Then the truth

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Speaker 2: is they be just as fine with the thirty or

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Speaker 2: forty dollars package that has fifty or one hundred meg speeds.

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Speaker 2: So maybe, I don't know, check out that calculator, see

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Speaker 2: if you can produce your speeds reduce your monthly cost.

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Speaker 2: If you, like us, are not quite yet willing to

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Speaker 2: sever the connection completely, to.

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Speaker 3: Live that spartan existence, couldn't agree more. Man, All right,

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Speaker 3: we've got additional stories that we're gonna get to later on.

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00:18:42,680 --> 00:18:45,760
Speaker 3: We're gonna talk about perhaps finding some bargains.

440
00:18:45,240 --> 00:18:45,880
Speaker 1: That good will.

441
00:18:45,920 --> 00:18:49,280
Speaker 3: We're going to talk about boutique fitness companies, all that

442
00:18:49,400 --> 00:18:49,800
Speaker 3: and more.

443
00:18:49,920 --> 00:18:59,960
Speaker 1: Right after this, all right, Matt, we're back. The product

444
00:19:00,119 --> 00:19:01,200
Speaker 1: light keeps roll along.

445
00:19:01,240 --> 00:19:04,399
Speaker 3: Let's get to what's your other favorite Southern comfort food

446
00:19:05,040 --> 00:19:07,720
Speaker 3: other than the collar Greens Color Greens, Color Greens, Comfy

447
00:19:07,760 --> 00:19:09,399
Speaker 3: Chicken biscuit and inside of calli Greens.

448
00:19:09,440 --> 00:19:12,800
Speaker 2: Heck, yeah, Calli Greens are so underrated.

449
00:19:13,200 --> 00:19:14,879
Speaker 3: Hey, we're coming getting close to New Year's Eve.

450
00:19:15,520 --> 00:19:17,879
Speaker 2: Listeners in the Pacific Northwest and the Northeast are like,

451
00:19:17,920 --> 00:19:18,400
Speaker 2: what are colors?

452
00:19:18,400 --> 00:19:19,960
Speaker 3: They're like, we don't think you don't know what grits

453
00:19:20,000 --> 00:19:23,000
Speaker 3: are cream? We know without it because I'm from the

454
00:19:23,040 --> 00:19:24,600
Speaker 3: Pacific Northwest. But I still like Calli Greens.

455
00:19:24,880 --> 00:19:26,960
Speaker 1: But well, you're born there, You're not from there. It's

456
00:19:27,000 --> 00:19:27,680
Speaker 1: in my blood, Matt.

457
00:19:27,680 --> 00:19:30,800
Speaker 3: When you stay from that means you were like impacted

458
00:19:30,840 --> 00:19:31,800
Speaker 3: by the culture.

459
00:19:32,000 --> 00:19:34,680
Speaker 1: I was. How long did you live there? Two years? Okay? Yeah,

460
00:19:34,720 --> 00:19:35,879
Speaker 1: from zero to two is highlight.

461
00:19:35,920 --> 00:19:38,280
Speaker 3: I can totally see you with a bird on it

462
00:19:38,480 --> 00:19:39,320
Speaker 3: as a two year old.

463
00:19:39,320 --> 00:19:41,399
Speaker 2: That's exactly No, that's who I was. I still am

464
00:19:41,520 --> 00:19:43,760
Speaker 2: that person. All right, Let's get at the ludicrous headline

465
00:19:43,800 --> 00:19:45,600
Speaker 2: of the week. This one comes from Bloomberg and it

466
00:19:45,680 --> 00:19:48,760
Speaker 2: reads how the biggest boutique fitness company turns suburban moms

467
00:19:48,920 --> 00:19:53,119
Speaker 2: into bankrupt franchisees. Matt, this article is sad, it was,

468
00:19:53,280 --> 00:19:56,560
Speaker 2: but simultaneously revealing and basically, there have been some some

469
00:19:56,680 --> 00:20:00,119
Speaker 2: heinous folks capitalizing on the boutique fitness craze. I'm I'm

470
00:20:00,119 --> 00:20:02,600
Speaker 2: not sure if anyone else has noticed this, the preponderance

471
00:20:02,760 --> 00:20:05,399
Speaker 2: of orange theories and just all these like boutique fitness

472
00:20:05,400 --> 00:20:09,080
Speaker 2: franchises coming into towns near you. And what's happening with

473
00:20:09,119 --> 00:20:12,320
Speaker 2: this is it's actually disproportionately harming moms who are trying

474
00:20:12,359 --> 00:20:14,959
Speaker 2: to start a side hustle serving their community. They're interested

475
00:20:14,960 --> 00:20:16,919
Speaker 2: in fitness, they want to get their community into it

476
00:20:16,960 --> 00:20:19,320
Speaker 2: as well, and so they're like, hey, listen, what if

477
00:20:19,400 --> 00:20:22,280
Speaker 2: I start help bring one of these franchises here. And

478
00:20:22,320 --> 00:20:24,000
Speaker 2: this was a long article, but it made some of

479
00:20:24,040 --> 00:20:27,159
Speaker 2: these some of these franchise fitness models feel almost like

480
00:20:27,240 --> 00:20:31,200
Speaker 2: multi level marketing organizations, but with even higher stakes because

481
00:20:31,400 --> 00:20:33,560
Speaker 2: a lot of these folks, a lot of these specifically

482
00:20:33,680 --> 00:20:36,399
Speaker 2: mostly women trying to open up brand named local gyms,

483
00:20:36,400 --> 00:20:39,960
Speaker 2: have lost six figures because of the empty promises from

484
00:20:40,080 --> 00:20:42,959
Speaker 2: the company selling them those franchises.

485
00:20:43,000 --> 00:20:44,480
Speaker 1: They're saying, listen.

486
00:20:44,200 --> 00:20:45,520
Speaker 2: We're going to support you, we're going to do this,

487
00:20:45,560 --> 00:20:47,800
Speaker 2: we'll help you find the members, and then so much

488
00:20:47,800 --> 00:20:51,000
Speaker 2: of the time it ends in disappointment and the loss

489
00:20:51,080 --> 00:20:52,480
Speaker 2: of ridiculous sums of money.

490
00:20:52,560 --> 00:20:55,440
Speaker 3: Yeah, it's like, hey, there is a remodel that's required,

491
00:20:55,480 --> 00:20:56,920
Speaker 3: but guess what you're gonna have to put the bill.

492
00:20:57,119 --> 00:20:58,920
Speaker 3: Oh and if you can't afford to pay that, you're

493
00:20:58,920 --> 00:21:00,359
Speaker 3: just going to have to sign on for another five

494
00:21:00,400 --> 00:21:02,840
Speaker 3: to ten years. No big deal like this is it's

495
00:21:02,960 --> 00:21:06,600
Speaker 3: less personal finance, but hopefully a helpful warning four folks

496
00:21:06,600 --> 00:21:09,880
Speaker 3: out there who maybe are thinking about starting a business.

497
00:21:10,000 --> 00:21:11,480
Speaker 1: Because some of these folks they rated.

498
00:21:11,280 --> 00:21:14,720
Speaker 3: Their retirement accounts in order to buy these franchise rights

499
00:21:14,760 --> 00:21:19,280
Speaker 3: basically to a club plots or to a purebar, which

500
00:21:19,320 --> 00:21:22,240
Speaker 3: is so incredibly dangerous. The fact that it's something that

501
00:21:22,280 --> 00:21:26,040
Speaker 3: you've worked toward for maybe decades even, and then you think, oh, yeah,

502
00:21:26,080 --> 00:21:27,639
Speaker 3: this is right, this is going to be this is

503
00:21:27,640 --> 00:21:31,400
Speaker 3: the golden ticket. And simultaneously, though it's not that buying

504
00:21:31,440 --> 00:21:33,760
Speaker 3: a franchise is never going to be a good idea,

505
00:21:33,800 --> 00:21:36,560
Speaker 3: but it is crucial to do your due diligence, and

506
00:21:36,680 --> 00:21:37,520
Speaker 3: in this case, there.

507
00:21:37,400 --> 00:21:39,800
Speaker 1: Are a lot of poor policies.

508
00:21:39,359 --> 00:21:42,200
Speaker 3: Written into these agreements and plus on the boutique gym

509
00:21:42,240 --> 00:21:44,159
Speaker 3: front man like, it seems like we've almost reached a

510
00:21:44,160 --> 00:21:47,160
Speaker 3: point of saturation. It's likely going to be even harder

511
00:21:47,160 --> 00:21:49,360
Speaker 3: to make some of these numbers work, given how many

512
00:21:49,400 --> 00:21:52,320
Speaker 3: of these competing chains and locations have sprought it up

513
00:21:52,359 --> 00:21:54,400
Speaker 3: around the country. But then on top of that, from

514
00:21:54,400 --> 00:21:57,600
Speaker 3: a personal finance side of things, if you have to

515
00:21:57,800 --> 00:21:59,760
Speaker 3: cash out their retirement account in order to pull it off,

516
00:22:00,160 --> 00:22:02,600
Speaker 3: that's a major red flag that we don't want folks

517
00:22:02,680 --> 00:22:05,000
Speaker 3: to pin their their hopes and dreams on futures.

518
00:22:05,040 --> 00:22:05,520
Speaker 1: Yeah too.

519
00:22:05,680 --> 00:22:07,959
Speaker 2: Yeah, it's almost like you can ruin your president in

520
00:22:07,960 --> 00:22:10,359
Speaker 2: your future at the same time by taking this tact

521
00:22:10,560 --> 00:22:12,920
Speaker 2: and just it should be should be a word of

522
00:22:12,920 --> 00:22:15,719
Speaker 2: the why someone's selling you something. These guys selling these

523
00:22:15,760 --> 00:22:18,840
Speaker 2: franchises are making tons of money and whether whether you

524
00:22:18,840 --> 00:22:22,919
Speaker 2: succeed or fail, and you are pulling out your future

525
00:22:22,920 --> 00:22:26,840
Speaker 2: savings hoping needing to succeed without the support.

526
00:22:26,640 --> 00:22:28,719
Speaker 3: Necessary to do so, it does not seem like they

527
00:22:28,760 --> 00:22:31,240
Speaker 3: have the support exactly. It seems like they're more interested

528
00:22:31,320 --> 00:22:36,199
Speaker 3: in basically sucking these individuals dry and getting those fees

529
00:22:36,440 --> 00:22:38,760
Speaker 3: rather than the individual success of each company. Again, so

530
00:22:38,840 --> 00:22:41,480
Speaker 3: much like a multime location marketing organization where it's like

531
00:22:41,760 --> 00:22:44,720
Speaker 3: I get paid when you come under me, and then yeah,

532
00:22:44,760 --> 00:22:46,480
Speaker 3: I get paid some if you make money, but the

533
00:22:46,520 --> 00:22:48,880
Speaker 3: biggest thing is bringing you in the first place. So

534
00:22:49,080 --> 00:22:52,640
Speaker 3: it's pretty dirty organization, pretty dirty way of doing business.

535
00:22:53,200 --> 00:22:55,439
Speaker 2: All right, Matt, let's talk about resale. A new report

536
00:22:55,440 --> 00:22:58,320
Speaker 2: from thread up finds that resale is likely to double

537
00:22:58,480 --> 00:23:01,560
Speaker 2: as a category by twenty twenty seven, three x the

538
00:23:01,560 --> 00:23:04,639
Speaker 2: pace of the global apparel market. And this is this

539
00:23:04,680 --> 00:23:07,639
Speaker 2: is good news because data from Princeton Review finds that

540
00:23:07,680 --> 00:23:10,879
Speaker 2: fifty seven percent of discarded clothes end up in landfills.

541
00:23:11,240 --> 00:23:12,480
Speaker 2: I didn't realize it was that bad.

542
00:23:12,680 --> 00:23:14,000
Speaker 1: That's a lot.

543
00:23:14,160 --> 00:23:16,480
Speaker 2: That sounds horrendous, right, that's not good at all. And

544
00:23:16,520 --> 00:23:19,119
Speaker 2: well we've seen that even with good Wills and stuff

545
00:23:19,160 --> 00:23:22,080
Speaker 2: taking donations, so much of the stuff is unfit even

546
00:23:22,160 --> 00:23:24,680
Speaker 2: for resale that it ends up in the trash too,

547
00:23:25,119 --> 00:23:28,480
Speaker 2: just creating more of a headache for the thrift stores

548
00:23:28,480 --> 00:23:31,600
Speaker 2: and good wills out there. And so secondhand used to

549
00:23:31,640 --> 00:23:33,640
Speaker 2: really only be like an in person kind of experience,

550
00:23:33,760 --> 00:23:35,840
Speaker 2: but now you can buy used online as well. And

551
00:23:35,880 --> 00:23:38,320
Speaker 2: we've we've seen more of the major retailers like Levi's,

552
00:23:38,400 --> 00:23:42,280
Speaker 2: Lulu Lemon made well buying pieces back from their customers

553
00:23:42,520 --> 00:23:44,760
Speaker 2: to resell on their own site, which is awesome. I

554
00:23:44,800 --> 00:23:47,359
Speaker 2: love seeing that, Like it's almost like higher end secondhand.

555
00:23:47,600 --> 00:23:50,200
Speaker 2: And yeah, and so I think it's a good idea

556
00:23:50,200 --> 00:23:52,480
Speaker 2: for us to partake in this trend, both on the

557
00:23:52,480 --> 00:23:54,240
Speaker 2: buying and the selling side. It's a great way to

558
00:23:54,960 --> 00:23:58,320
Speaker 2: be green while simultaneously saving green. So I love seeing

559
00:23:58,359 --> 00:24:02,119
Speaker 2: the resale market kind of grow and expand and change

560
00:24:02,119 --> 00:24:04,719
Speaker 2: and shift and just make it more appealing to users

561
00:24:04,760 --> 00:24:06,399
Speaker 2: of all bank account levels.

562
00:24:06,480 --> 00:24:07,040
Speaker 1: Totally. Yeah.

563
00:24:07,119 --> 00:24:11,160
Speaker 3: Yeah, you could even shop Goodwill online at goodwillfines dot com.

564
00:24:11,200 --> 00:24:12,360
Speaker 1: I remember as.

565
00:24:12,200 --> 00:24:15,360
Speaker 3: Maybe they've revamper site over the past number of years,

566
00:24:15,359 --> 00:24:17,399
Speaker 3: but like ten fifteen years ago, remember discovering for the

567
00:24:17,440 --> 00:24:19,280
Speaker 3: first time, and I remember buying myself a pair.

568
00:24:19,160 --> 00:24:22,000
Speaker 1: Of what are the boat shoes called Sperry Sparries.

569
00:24:22,080 --> 00:24:23,800
Speaker 3: Yeah, but it was like a brand new pair of Sperries,

570
00:24:23,840 --> 00:24:25,600
Speaker 3: and I was like, I've never owned a pair of

571
00:24:25,720 --> 00:24:26,520
Speaker 3: boat shoes before.

572
00:24:26,600 --> 00:24:30,040
Speaker 1: That seems like a Southern preppy thing. And I totally

573
00:24:30,080 --> 00:24:31,880
Speaker 1: kind a pair of those. I love them. They're great.

574
00:24:31,920 --> 00:24:33,600
Speaker 3: They worked for a while, was what my wife was

575
00:24:33,640 --> 00:24:36,760
Speaker 3: expecting me to wear, but I totally rocked them for

576
00:24:37,280 --> 00:24:37,840
Speaker 3: mad I'm married.

577
00:24:38,680 --> 00:24:40,200
Speaker 1: I rocked them in my own way. Jill.

578
00:24:40,240 --> 00:24:42,200
Speaker 3: Yeah, you can't have like the whole ensemble, but you

579
00:24:42,240 --> 00:24:45,000
Speaker 3: can throw in you know, got to keep folks on cuff.

580
00:24:45,040 --> 00:24:48,800
Speaker 3: Links with them. By the way, there's a site called

581
00:24:48,960 --> 00:24:52,560
Speaker 3: re commerce that lists out the top resell sites. We'll

582
00:24:52,600 --> 00:24:54,960
Speaker 3: link to it in our show notes. But uh, I

583
00:24:55,000 --> 00:24:57,119
Speaker 3: am happy that more of these companies are are jumping on.

584
00:24:57,160 --> 00:24:58,600
Speaker 3: This is sort of like, I don't want to say

585
00:24:58,600 --> 00:25:00,639
Speaker 3: you should be brand loyal, but a lot of folks

586
00:25:00,640 --> 00:25:02,720
Speaker 3: like certain brands. I know, Like, funny you mentioned Levi's

587
00:25:02,720 --> 00:25:04,560
Speaker 3: because I know you used to at least be a

588
00:25:04,640 --> 00:25:07,080
Speaker 3: huge fan of Levi's. I like, but like, if you

589
00:25:07,280 --> 00:25:10,560
Speaker 3: know the product, if you know with Levi's specifically your number, right,

590
00:25:10,680 --> 00:25:12,760
Speaker 3: like got the different cuts whatever.

591
00:25:12,600 --> 00:25:14,000
Speaker 1: For seventy five eleven GOUM.

592
00:25:13,920 --> 00:25:17,040
Speaker 3: Or yeah, whatever five eleven, And there's a certain amount

593
00:25:17,040 --> 00:25:19,240
Speaker 3: of predictability there. Like it makes me think of certified

594
00:25:19,280 --> 00:25:22,080
Speaker 3: pre owned at car dealerships. Is this going to be

595
00:25:22,119 --> 00:25:24,120
Speaker 3: the absolute best way for you to get a deal? No,

596
00:25:24,440 --> 00:25:27,840
Speaker 3: but there is a certain level of what they're willing

597
00:25:27,880 --> 00:25:30,080
Speaker 3: to sell, and so there's a It takes some of

598
00:25:30,080 --> 00:25:31,879
Speaker 3: the pressure off, right, It keeps you from having to

599
00:25:31,920 --> 00:25:34,760
Speaker 3: go digging through some bins at Goodwill even it keeps

600
00:25:34,760 --> 00:25:37,399
Speaker 3: you even from scouring eBay and spending a whole lot

601
00:25:37,400 --> 00:25:39,200
Speaker 3: of time there trying to find a good seller. Yeah,

602
00:25:39,280 --> 00:25:41,199
Speaker 3: being like, oh are these legitimates? Say I see a

603
00:25:41,200 --> 00:25:43,639
Speaker 3: bunch of feedback and it's ninety nine percent positive, But

604
00:25:44,040 --> 00:25:46,679
Speaker 3: where those are just a bunch of burner sales that

605
00:25:46,720 --> 00:25:48,680
Speaker 3: they ended up selling it in order to get put

606
00:25:48,720 --> 00:25:50,800
Speaker 3: one over on me, pull the wool over my eyes

607
00:25:51,200 --> 00:25:53,760
Speaker 3: as I attempt to buy these nice genes. By the way,

608
00:25:53,800 --> 00:25:57,280
Speaker 3: stay tuned, because our first interview of the New Years,

609
00:25:57,280 --> 00:25:59,480
Speaker 3: it's actually going to be with someone not only who's

610
00:25:59,480 --> 00:26:02,440
Speaker 3: from the Pacific Northwest, al but someone who bought nothing

611
00:26:02,880 --> 00:26:06,000
Speaker 3: for an entire year. She wasn't just not buying new

612
00:26:06,080 --> 00:26:09,040
Speaker 3: but she bought nothing nada. Yeah, looking forward to that one.

613
00:26:09,240 --> 00:26:15,000
Speaker 3: Let's talk about complicated, expensive prescription drugs, Joel. We've already

614
00:26:15,040 --> 00:26:17,359
Speaker 3: seen some cool companies out there who are doing some

615
00:26:17,400 --> 00:26:20,679
Speaker 3: good work to add transparency to the market, to the space,

616
00:26:21,000 --> 00:26:23,680
Speaker 3: companies who are helping consumers save a ton of money.

617
00:26:24,040 --> 00:26:27,600
Speaker 3: We're talking about good Rx and then Mark Cubans Cost

618
00:26:27,640 --> 00:26:30,359
Speaker 3: Plus Drugs. That's a newer company, but they're two of

619
00:26:30,400 --> 00:26:31,960
Speaker 3: the biggest success stories out there.

620
00:26:32,320 --> 00:26:32,600
Speaker 1: Well.

621
00:26:32,640 --> 00:26:35,240
Speaker 3: In addition to that, the major pharmacies are starting to

622
00:26:35,280 --> 00:26:38,120
Speaker 3: see the lights a little bit or they're at least

623
00:26:38,119 --> 00:26:41,200
Speaker 3: feeling the heat, changing their playbook playbook a little bit.

624
00:26:41,440 --> 00:26:44,320
Speaker 3: CVS they announced that they're moving to a cost plus

625
00:26:44,359 --> 00:26:46,720
Speaker 3: model that's similar to what it is that Mark Cuban's

626
00:26:46,720 --> 00:26:50,520
Speaker 3: site is doing. So instead of the complicated proprietary formula,

627
00:26:50,760 --> 00:26:53,320
Speaker 3: it's under lock and key, like the called Doctor Prepper

628
00:26:53,359 --> 00:26:57,080
Speaker 3: recipe or coke formula or the KFC how many what

629
00:26:57,119 --> 00:26:59,359
Speaker 3: spices are you actually using? Kind but what that meant

630
00:26:59,359 --> 00:27:03,440
Speaker 3: for folks or higher script prices for consumers, and so

631
00:27:03,480 --> 00:27:06,120
Speaker 3: instead of that, they're going to just in a more

632
00:27:06,160 --> 00:27:08,720
Speaker 3: straightforward direction that's going to include a markup over what

633
00:27:08,760 --> 00:27:11,000
Speaker 3: it is that they pay with a flat fee attached

634
00:27:11,320 --> 00:27:14,440
Speaker 3: starting in the first half of next year. That being said,

635
00:27:14,440 --> 00:27:16,880
Speaker 3: I'm not necessarily going to hold my breath to I'm

636
00:27:16,880 --> 00:27:18,119
Speaker 3: not going to assume that it's going to be more

637
00:27:18,160 --> 00:27:20,200
Speaker 3: affordable with some of the bigger names.

638
00:27:19,960 --> 00:27:21,720
Speaker 1: Like CVS than going with some of.

639
00:27:21,680 --> 00:27:25,920
Speaker 3: These more agreed consumer friendly companies who like their entire

640
00:27:26,000 --> 00:27:28,479
Speaker 3: mission is to make it more affordable. Yeah, Like, in

641
00:27:28,480 --> 00:27:30,640
Speaker 3: my mind, they're going to lower their prices just enough

642
00:27:30,720 --> 00:27:33,280
Speaker 3: to keep people from jumping ship because there's friction involved

643
00:27:33,359 --> 00:27:35,439
Speaker 3: when it comes to learning a new platform, new system,

644
00:27:35,600 --> 00:27:37,399
Speaker 3: they want to keep people around, and so they do

645
00:27:37,400 --> 00:27:39,040
Speaker 3: that by lowering prices. They get the pad on the

646
00:27:39,080 --> 00:27:42,120
Speaker 3: back they look good, but also their prices are still

647
00:27:42,280 --> 00:27:43,560
Speaker 3: likely higher than some of their competitives.

648
00:27:43,560 --> 00:27:45,920
Speaker 2: I mean they even announced under this change that some

649
00:27:46,080 --> 00:27:48,680
Speaker 2: drug prices are actually going to go up, which which

650
00:27:48,720 --> 00:27:50,760
Speaker 2: actually makes sense because they probably have some of their

651
00:27:50,840 --> 00:27:54,479
Speaker 2: cheapest items or loss leaders, like I'm guessing antibiotics right,

652
00:27:54,480 --> 00:27:56,399
Speaker 2: they probably pay a little more than what they actually

653
00:27:56,480 --> 00:27:59,280
Speaker 2: charge and so prices on those will likely go up

654
00:27:59,320 --> 00:28:02,240
Speaker 2: for people. And yeah, we don't know all the details

655
00:28:02,280 --> 00:28:04,240
Speaker 2: on how this is going to shake out, it is

656
00:28:04,359 --> 00:28:08,120
Speaker 2: probably still a win for consumers. I would say it's

657
00:28:08,160 --> 00:28:10,640
Speaker 2: even more important though, Matt, You're right. Check out Costco,

658
00:28:10,880 --> 00:28:14,760
Speaker 2: check out cost plus Drugs. There are more places to

659
00:28:15,280 --> 00:28:19,879
Speaker 2: research prescription drug prices. Going with the big pharmacy chains

660
00:28:20,200 --> 00:28:22,959
Speaker 2: is still unlikely going to be your best bet, So

661
00:28:23,160 --> 00:28:26,159
Speaker 2: check a site and app like good Rx before you

662
00:28:26,200 --> 00:28:28,320
Speaker 2: decide where to have your prescription filled. That's a great

663
00:28:28,359 --> 00:28:30,879
Speaker 2: way to comparison chop before you go out there and

664
00:28:30,920 --> 00:28:33,800
Speaker 2: get that prescription too. But I will say I guess

665
00:28:33,840 --> 00:28:35,840
Speaker 2: it is good to see the major pharmacy chains who

666
00:28:35,920 --> 00:28:39,200
Speaker 2: fill a bulk of the prescriptions in this country, finally

667
00:28:39,240 --> 00:28:42,880
Speaker 2: pivoting to a somewhat more consumer friendly pricing model, and

668
00:28:43,440 --> 00:28:45,920
Speaker 2: Walgreens has launched its own good RX competitor. Matt, I

669
00:28:45,960 --> 00:28:48,160
Speaker 2: don't know if you saw that. We'll link to that

670
00:28:48,320 --> 00:28:50,400
Speaker 2: in the show notes. I'm not sure if it's as

671
00:28:50,560 --> 00:28:54,719
Speaker 2: robust or helpful. Probably not, but every little thing helps, right,

672
00:28:54,800 --> 00:28:58,800
Speaker 2: Shining transparency, transparency, shining some light on how much we're

673
00:28:58,840 --> 00:29:01,160
Speaker 2: actually forking over, how much we're to pay for that

674
00:29:01,200 --> 00:29:04,680
Speaker 2: prescription drug. The discrepancy can be massive, whether you have

675
00:29:04,720 --> 00:29:07,080
Speaker 2: insurance or not, and sometimes using your insurance is actually

676
00:29:07,280 --> 00:29:09,280
Speaker 2: going to result in a higher price than what you'd

677
00:29:09,320 --> 00:29:12,480
Speaker 2: get with somebody like GoodRx. So it's worth shopping the market,

678
00:29:13,120 --> 00:29:16,240
Speaker 2: especially if it's a medicine that you take routinely, regularly,

679
00:29:16,320 --> 00:29:16,960
Speaker 2: every single month.

680
00:29:17,000 --> 00:29:18,239
Speaker 1: Sure, yeah, that's right, all right.

681
00:29:18,280 --> 00:29:21,280
Speaker 3: We talked about geographic arbitrage last week on I think

682
00:29:21,320 --> 00:29:22,760
Speaker 3: that was an ask Yeah, that was an ask out

683
00:29:22,760 --> 00:29:26,240
Speaker 3: of money episode. A listener question, Well, yeah, moving somewhere

684
00:29:26,240 --> 00:29:29,560
Speaker 3: else can reduce your costs substantially, and in the era

685
00:29:29,680 --> 00:29:31,680
Speaker 3: of remote work, you might not even have to deal

686
00:29:31,680 --> 00:29:34,360
Speaker 3: with any sort of income reduction because oftentimes that would

687
00:29:34,360 --> 00:29:36,640
Speaker 3: be the trade off. But one other way to use

688
00:29:36,840 --> 00:29:39,840
Speaker 3: arbitrage to your advantage could be to hire someone who

689
00:29:39,880 --> 00:29:43,000
Speaker 3: lives in another country. The Journal they had an article

690
00:29:43,080 --> 00:29:46,360
Speaker 3: about the massive advantage of hiring a tutor who lives

691
00:29:46,360 --> 00:29:50,800
Speaker 3: overseas and saving a bundle. There was an example that

692
00:29:50,800 --> 00:29:54,680
Speaker 3: they gave where someone hired a PhD math tutor from

693
00:29:54,680 --> 00:29:58,000
Speaker 3: Pakistan for four dollars an hour, which is a far

694
00:29:58,160 --> 00:30:01,600
Speaker 3: cry from evidently the the average going rate is twenty

695
00:30:01,640 --> 00:30:04,920
Speaker 3: four dollars, but that being said, it's also well above

696
00:30:04,960 --> 00:30:08,040
Speaker 3: the minimum wage over there, which is just one dollar

697
00:30:08,160 --> 00:30:10,640
Speaker 3: an hour, So you're looking at a four x increase

698
00:30:10,680 --> 00:30:12,440
Speaker 3: of doing a little bit of work on the side.

699
00:30:12,720 --> 00:30:13,840
Speaker 3: It makes me think of a friend of the show,

700
00:30:13,920 --> 00:30:17,160
Speaker 3: Jack Rains. He's actually written about a company called Ocean's xyz.

701
00:30:17,720 --> 00:30:21,640
Speaker 3: They help you to hire executive staff like executive support

702
00:30:21,680 --> 00:30:24,600
Speaker 3: staff in other countries, I think specifically in Sri Lanka

703
00:30:24,680 --> 00:30:28,120
Speaker 3: for a fraction of the price. But it makes me

704
00:30:28,400 --> 00:30:31,200
Speaker 3: really glad that this exists. I'm not totally sure if

705
00:30:31,240 --> 00:30:33,800
Speaker 3: I would do it, but I'm glad that it exists. Again,

706
00:30:33,880 --> 00:30:37,240
Speaker 3: kind of going back to the close resale story that

707
00:30:37,240 --> 00:30:39,280
Speaker 3: we're talking about, it's kind of a win win. It's

708
00:30:39,280 --> 00:30:41,160
Speaker 3: a win for those who are providing the service because

709
00:30:41,160 --> 00:30:43,560
Speaker 3: they're making more, and it's a win for those who

710
00:30:43,680 --> 00:30:47,360
Speaker 3: might not otherwise be able to afford something like expensive

711
00:30:47,360 --> 00:30:49,320
Speaker 3: tutoring for the kid, if that's something that they need.

712
00:30:50,040 --> 00:30:51,000
Speaker 1: Would you ever consider it?

713
00:30:51,280 --> 00:30:53,960
Speaker 2: I think I would totally consider this because the virtual options, Yeah,

714
00:30:54,000 --> 00:30:56,080
Speaker 2: I would. I think we probably would be willing to

715
00:30:56,560 --> 00:30:58,720
Speaker 2: pay more to do a little bit in person. I

716
00:30:58,720 --> 00:31:00,480
Speaker 2: do think that that can have an advantage. But I

717
00:31:00,520 --> 00:31:02,520
Speaker 2: would be really curious to check it out and see

718
00:31:02,520 --> 00:31:05,440
Speaker 2: if some sort of virtual tutor in the five to

719
00:31:05,480 --> 00:31:07,480
Speaker 2: eight dollars an hour range or something like that, if

720
00:31:07,480 --> 00:31:09,400
Speaker 2: that would be just as good, just as helpful.

721
00:31:09,600 --> 00:31:09,960
Speaker 1: I don't know.

722
00:31:10,000 --> 00:31:13,160
Speaker 3: I'm definitely open to it. Yeah, same, It's amazing how

723
00:31:13,200 --> 00:31:15,440
Speaker 3: much money you can save. I'm open to it. And

724
00:31:15,560 --> 00:31:17,720
Speaker 3: I think a lot of it depends, though, on your

725
00:31:17,760 --> 00:31:20,479
Speaker 3: experience during the pandemic, like when kids, yeah, when all

726
00:31:20,480 --> 00:31:22,160
Speaker 3: they were doing was virtual schooling. Because I think a

727
00:31:22,160 --> 00:31:24,880
Speaker 3: lot of folks had great experiences and are saying, oh

728
00:31:24,880 --> 00:31:27,080
Speaker 3: my gosh, I would totally do that. My kid did

729
00:31:27,440 --> 00:31:29,440
Speaker 3: really well. But I also think there's a lot of

730
00:31:29,440 --> 00:31:30,360
Speaker 3: folks who are like, no.

731
00:31:30,360 --> 00:31:32,840
Speaker 1: That was the worst. That was terrible.

732
00:31:32,960 --> 00:31:36,840
Speaker 3: Zoom learning sucks, and they don't want to revisit anything

733
00:31:36,880 --> 00:31:38,080
Speaker 3: that resembles zoom learning.

734
00:31:38,120 --> 00:31:38,680
Speaker 1: That's a good point.

735
00:31:38,680 --> 00:31:40,760
Speaker 2: That would probably be my because like my eight year

736
00:31:40,760 --> 00:31:43,240
Speaker 2: old would probably not take to it well, but my

737
00:31:43,280 --> 00:31:45,080
Speaker 2: ten year old might, so depends.

738
00:31:44,840 --> 00:31:48,200
Speaker 1: On the kid too. She's literally like got ptstus. We

739
00:31:48,280 --> 00:31:51,160
Speaker 1: all do, so we all do start shaking a little bit.

740
00:31:51,240 --> 00:31:53,840
Speaker 2: But I still remember her like checking out her big

741
00:31:53,880 --> 00:31:56,880
Speaker 2: toes while she was supposed to be like actually learning stuff.

742
00:31:56,880 --> 00:31:58,760
Speaker 2: What do you do and stop lighting stuff on fire

743
00:31:58,840 --> 00:32:00,640
Speaker 2: that she shouldn't. I mean, yeah, it was, Oh it

744
00:32:00,680 --> 00:32:02,560
Speaker 2: was bad. I don't remember that story. Yeah, she definitely

745
00:32:02,640 --> 00:32:05,120
Speaker 2: had had her hand over a candle or like what.

746
00:32:05,000 --> 00:32:05,360
Speaker 1: Are you doing?

747
00:32:05,360 --> 00:32:07,240
Speaker 3: He's like, I don't feel anything anymore time.

748
00:32:07,920 --> 00:32:09,360
Speaker 1: Just trying to prove that I'm a lot. That's right,

749
00:32:09,360 --> 00:32:10,280
Speaker 1: but I've got feelings still.

750
00:32:10,600 --> 00:32:12,840
Speaker 3: But all right, that's gonna be it though for this

751
00:32:12,960 --> 00:32:15,160
Speaker 3: Friday flight. Actually, I'm kind of surprised, wet we have

752
00:32:15,200 --> 00:32:19,040
Speaker 3: an absence of Christmas holiday like stories. Ye, but hey,

753
00:32:19,280 --> 00:32:21,800
Speaker 3: you know personal finance, you take these stories and apply

754
00:32:21,880 --> 00:32:23,880
Speaker 3: them to all areas of your life, including the holidays.

755
00:32:23,880 --> 00:32:27,640
Speaker 2: Okay, just a quick holiday reference, all right, best new

756
00:32:27,680 --> 00:32:31,840
Speaker 2: holiday movie, The Holdovers so good. Oh yeah, yeah, it's

757
00:32:32,120 --> 00:32:36,040
Speaker 2: twenty dollars to rent, which is ridiculous at home, rich.

758
00:32:36,080 --> 00:32:37,640
Speaker 1: Daddy Fat sacks over here. But I did.

759
00:32:37,720 --> 00:32:39,880
Speaker 2: I'm glad I did. I never i'd like. That might

760
00:32:39,920 --> 00:32:41,400
Speaker 2: be the first or second time I've ever done that,

761
00:32:41,480 --> 00:32:43,600
Speaker 2: but it was worth it. That movie truly excellent.

762
00:32:44,040 --> 00:32:46,640
Speaker 3: It's got like dead Post society vibes yeap with like

763
00:32:46,960 --> 00:32:47,960
Speaker 3: a quarter of the cast.

764
00:32:50,360 --> 00:32:52,719
Speaker 1: Incredible acting, incredible storyline. Nice. I have to check it out.

765
00:32:52,720 --> 00:32:54,240
Speaker 3: I remember seeing the preview four it made me think

766
00:32:54,360 --> 00:32:57,320
Speaker 3: of It's funny because we read all the Harry Potter

767
00:32:57,360 --> 00:32:59,320
Speaker 3: books and then watch all the films. There's like that

768
00:32:59,320 --> 00:33:01,920
Speaker 3: period of time in between, like over the holidays when

769
00:33:01,960 --> 00:33:04,360
Speaker 3: some kids I get hold over. Yeah, Like they stay

770
00:33:04,400 --> 00:33:06,680
Speaker 3: there at school, which is always so unpredictable. Who knows

771
00:33:06,680 --> 00:33:09,560
Speaker 3: what's going to happen while there isn't class and most

772
00:33:09,600 --> 00:33:11,360
Speaker 3: people none of the teachers are watching.

773
00:33:11,120 --> 00:33:13,080
Speaker 2: Us short staff, six naughty kids.

774
00:33:13,120 --> 00:33:14,960
Speaker 1: What's you know? What could go wrong? Is it a

775
00:33:14,960 --> 00:33:16,320
Speaker 1: boarding school? Yeah?

776
00:33:16,400 --> 00:33:18,400
Speaker 3: Does it make you ever wish that you would have

777
00:33:18,440 --> 00:33:20,000
Speaker 3: had a boarding school like experience?

778
00:33:20,320 --> 00:33:20,520
Speaker 1: Uh?

779
00:33:20,760 --> 00:33:23,360
Speaker 2: Only it's a very small part of it. I mean,

780
00:33:23,400 --> 00:33:24,600
Speaker 2: it sounds kind of cool, but then you're away from

781
00:33:24,640 --> 00:33:26,680
Speaker 2: your family, which would think so yeah, but like I

782
00:33:26,720 --> 00:33:29,200
Speaker 2: get the camaraderie being kind of thrown into a bunch

783
00:33:29,200 --> 00:33:31,120
Speaker 2: of other like this is like an all boys school

784
00:33:31,160 --> 00:33:33,080
Speaker 2: or whatever. This in this movie, and a very small

785
00:33:33,080 --> 00:33:34,880
Speaker 2: part is appealing. But the rest of it, now, yeah,

786
00:33:34,920 --> 00:33:35,280
Speaker 2: I'm good.

787
00:33:35,440 --> 00:33:38,280
Speaker 3: Probably not, but we do hope everyone out there has

788
00:33:38,600 --> 00:33:43,120
Speaker 3: a wonderful Christmas or Kwanza if you celebrate, or Hanukkah.

789
00:33:43,200 --> 00:33:44,720
Speaker 3: Hannika is over at this point, isn't it.

790
00:33:44,720 --> 00:33:45,520
Speaker 1: Oh yeah, I think you're right.

791
00:33:45,520 --> 00:33:47,960
Speaker 3: But give your loved ones, give your friends a nice,

792
00:33:47,960 --> 00:33:49,720
Speaker 3: big old hug, and we will see you back here

793
00:33:49,920 --> 00:33:50,680
Speaker 3: next week.

794
00:33:50,960 --> 00:33:52,320
Speaker 1: Joel. That's gonna be it for this episode.

795
00:33:52,360 --> 00:34:07,400
Speaker 3: But until next time, best friends out and best Friends Out.

796
00:34:02,000 --> 00:34:02,040
Speaker 1: The