1 00:00:00,080 --> 00:00:02,560 Speaker 1: Welcome to How the Money. I'm Joel and I and 2 00:00:02,720 --> 00:00:06,640 Speaker 1: Matt and today we're discussing payroll tax, holiday, airline change fees, 3 00:00:06,760 --> 00:00:29,560 Speaker 1: and rogue podcasts. It's right, Joe. This is our Friday 4 00:00:29,560 --> 00:00:33,159 Speaker 1: Flights episode where every week we'll talk about some different headlines, man, 5 00:00:33,200 --> 00:00:35,680 Speaker 1: different things we've seen in the news and how it 6 00:00:35,760 --> 00:00:38,600 Speaker 1: pertains to our money, our personal finances. So I'm looking 7 00:00:38,640 --> 00:00:41,320 Speaker 1: forward to the few topics that you mentioned, in addition 8 00:00:41,360 --> 00:00:43,159 Speaker 1: to a bunch of others. Man. Yeah, me too, man. 9 00:00:43,200 --> 00:00:44,959 Speaker 1: But but before we get to them real quick, it's 10 00:00:45,000 --> 00:00:48,720 Speaker 1: a long weekend this weekend. It's a very popular long weekend. Yeah, 11 00:00:48,760 --> 00:00:50,680 Speaker 1: I even forward a long weekend. So I've been said, 12 00:00:50,880 --> 00:00:52,879 Speaker 1: I don't know, like Labor Day is one of those 13 00:00:52,880 --> 00:00:55,400 Speaker 1: holidays where I'm not totally sure what's being celebrated, Like 14 00:00:55,440 --> 00:00:59,040 Speaker 1: fourth of July it's very clear, you know, Christmas, Easter, 15 00:00:59,240 --> 00:01:02,360 Speaker 1: Valentine's Day, Luther King Day. Yeah, I understand that, whereas 16 00:01:02,400 --> 00:01:04,040 Speaker 1: Labor Day, it's it's one of those like wait, is 17 00:01:04,080 --> 00:01:06,000 Speaker 1: it is it Memorial Day or is it Labor Day? 18 00:01:06,000 --> 00:01:07,800 Speaker 1: Like I feel like I always get those two confused. 19 00:01:07,800 --> 00:01:10,280 Speaker 1: There always like sales and stuff too. Um, yeah, it 20 00:01:10,319 --> 00:01:12,480 Speaker 1: always has to do with barbecuing and whatnot. Am I 21 00:01:12,480 --> 00:01:14,840 Speaker 1: supposed to be shopping or resting? I don't know, but 22 00:01:14,880 --> 00:01:16,440 Speaker 1: I think like I don't know when when you think 23 00:01:16,440 --> 00:01:18,960 Speaker 1: about what Labor Day is supposed to be. For labor day, 24 00:01:19,120 --> 00:01:21,560 Speaker 1: arrest from those labors and a chance to to look 25 00:01:21,600 --> 00:01:24,199 Speaker 1: back so far in this year, I think and see 26 00:01:24,200 --> 00:01:26,640 Speaker 1: what have I been able to accomplish. It's been probably 27 00:01:26,680 --> 00:01:29,640 Speaker 1: the weirdest work year for a whole lot of our listeners. 28 00:01:29,959 --> 00:01:33,399 Speaker 1: Things are odd, and your work week has probably, you know, 29 00:01:33,480 --> 00:01:35,160 Speaker 1: changed from what it used to be like. And so 30 00:01:35,440 --> 00:01:38,119 Speaker 1: take a chance to rest from all the oddity and 31 00:01:38,120 --> 00:01:42,199 Speaker 1: and potential hardship of change in how you work. I think, yeah, 32 00:01:42,480 --> 00:01:44,760 Speaker 1: taking this long weekend in order to to rest a 33 00:01:44,800 --> 00:01:47,160 Speaker 1: little bit is a good idea, certainly, And with more 34 00:01:47,200 --> 00:01:49,200 Speaker 1: people working from home, I think what that means is 35 00:01:49,240 --> 00:01:52,960 Speaker 1: intentionally not logging into your work, you know, like keeping 36 00:01:52,960 --> 00:01:55,760 Speaker 1: that laptop close, not sitting down to your desk, because 37 00:01:55,760 --> 00:01:57,080 Speaker 1: it can be really easy for us to kind of 38 00:01:57,080 --> 00:01:59,760 Speaker 1: get sucked back into work when we're already home, and 39 00:01:59,840 --> 00:02:02,400 Speaker 1: that also our office these days. No, I'm just gonna 40 00:02:02,440 --> 00:02:04,440 Speaker 1: put in like thirty minutes on Monday, even though it's holiday. 41 00:02:04,440 --> 00:02:06,720 Speaker 1: It's okay that thirty minutes turns into like two hours 42 00:02:06,800 --> 00:02:08,280 Speaker 1: or quit. And even if it is thirty minutes to 43 00:02:08,480 --> 00:02:11,280 Speaker 1: basically draw a hard line and say no, it's labor day. 44 00:02:11,400 --> 00:02:13,200 Speaker 1: You know, it's time to rest a little bit and 45 00:02:13,280 --> 00:02:15,760 Speaker 1: maybe intentionally get out of your house go outdoors. I 46 00:02:15,800 --> 00:02:17,520 Speaker 1: know in some parts of the country it's a little 47 00:02:17,520 --> 00:02:20,960 Speaker 1: bit cooler. It's still hot where we live, but maybe 48 00:02:21,160 --> 00:02:23,240 Speaker 1: outside in some shade. Yeah. Yeah, you guys are going 49 00:02:23,280 --> 00:02:25,480 Speaker 1: to the beach. We've got some family coming in town. 50 00:02:25,480 --> 00:02:29,680 Speaker 1: We're gonna celebrate Western's first birthday Monday. But yeah, looking 51 00:02:29,720 --> 00:02:32,400 Speaker 1: forward to stepping away from work ourselves, even though what 52 00:02:32,520 --> 00:02:34,720 Speaker 1: we do have an episode comming on Monday, but it's 53 00:02:34,760 --> 00:02:36,880 Speaker 1: not like we created it that day exactly. You know, 54 00:02:36,960 --> 00:02:39,040 Speaker 1: we're still resting on Monday. Will know that we record ahead, 55 00:02:39,080 --> 00:02:41,840 Speaker 1: Yeah exactly. All right, maw let's get onto our Friday flight. 56 00:02:41,919 --> 00:02:44,400 Speaker 1: Hope everybody enjoys their their long weekend, by the way, 57 00:02:44,680 --> 00:02:46,720 Speaker 1: and let's get to some of the stories we found 58 00:02:46,760 --> 00:02:49,800 Speaker 1: interesting this week. And these are stories that, in particular, 59 00:02:49,840 --> 00:02:52,600 Speaker 1: like you mentioned, pertain to people's personal finances or at 60 00:02:52,639 --> 00:02:54,160 Speaker 1: least something we were just interested in and I saw 61 00:02:54,160 --> 00:02:58,200 Speaker 1: this headline about rogue podcast matt Um since maybe this 62 00:02:58,200 --> 00:03:00,040 Speaker 1: is a little meta because we're talking about podcast in 63 00:03:00,120 --> 00:03:03,240 Speaker 1: a podcast, but your your favorite podcast that you listen to, 64 00:03:03,720 --> 00:03:06,560 Speaker 1: there's a chance that it has some sort of copycat feed. 65 00:03:06,720 --> 00:03:09,239 Speaker 1: Right now, scammers are trying to get listeners to tune 66 00:03:09,240 --> 00:03:13,120 Speaker 1: into the popular podcast the megapodcast like Serial or the 67 00:03:13,200 --> 00:03:16,480 Speaker 1: Joe Rogan Experience, but they're not the actual real podcast. 68 00:03:16,720 --> 00:03:18,760 Speaker 1: These scammers are using the Anchor app, which makes it 69 00:03:18,800 --> 00:03:20,799 Speaker 1: free and easy to launch your own podcast, and it's 70 00:03:20,840 --> 00:03:24,680 Speaker 1: kind of a cool say, well, it's democratize, Yeah, easily 71 00:03:24,720 --> 00:03:27,600 Speaker 1: monetize your podcast, but no minimum listenership. I think for 72 00:03:27,639 --> 00:03:29,840 Speaker 1: a lot of people who are wanting to get into 73 00:03:29,840 --> 00:03:31,680 Speaker 1: the podcast based and don't want to spend any money 74 00:03:31,680 --> 00:03:34,120 Speaker 1: to get started. Anchor can you know, maybe be okay 75 00:03:34,120 --> 00:03:36,240 Speaker 1: for those people, But now scammers are using it. They're 76 00:03:36,240 --> 00:03:39,440 Speaker 1: putting up fake feeds for these podcasts, using it nefariously 77 00:03:39,520 --> 00:03:41,480 Speaker 1: essentially in order to try to to make some money 78 00:03:41,720 --> 00:03:44,400 Speaker 1: off of that name that someone else has grown. So 79 00:03:44,480 --> 00:03:46,240 Speaker 1: it's something to be on the lookout for. Make sure 80 00:03:46,240 --> 00:03:48,240 Speaker 1: you're taking a look at the art for that podcast, 81 00:03:48,280 --> 00:03:50,400 Speaker 1: because a lot of the scammers aren't aren't going that far. Yeah, 82 00:03:50,400 --> 00:03:51,760 Speaker 1: well some of them are though. That's the thing, Like 83 00:03:51,760 --> 00:03:55,160 Speaker 1: they're trying to completely imitate that podcast, and obviously most 84 00:03:55,200 --> 00:03:57,240 Speaker 1: folks figure it out, but not after you hit play 85 00:03:57,320 --> 00:03:59,640 Speaker 1: and maybe listen to that first ad. And so you know, 86 00:03:59,680 --> 00:04:02,240 Speaker 1: some of the these these fake feeds are actually making 87 00:04:02,240 --> 00:04:04,160 Speaker 1: it to the top of search results if you're trying 88 00:04:04,200 --> 00:04:06,600 Speaker 1: to look for a specific podcast, you know, which makes 89 00:04:06,600 --> 00:04:09,040 Speaker 1: it even more confusing for folks. You know, after reading 90 00:04:09,080 --> 00:04:11,080 Speaker 1: the story, it's maybe even a little bit of a 91 00:04:11,120 --> 00:04:14,520 Speaker 1: blessing in disguise that we don't have the most popular podcast, 92 00:04:14,600 --> 00:04:16,520 Speaker 1: you like, we don't have millions and millions of followers. 93 00:04:16,960 --> 00:04:19,560 Speaker 1: Try millions, not millions and millions exactly. Yeah, no, one's 94 00:04:19,560 --> 00:04:22,200 Speaker 1: trying to rip off the podcast that just have one 95 00:04:22,240 --> 00:04:24,960 Speaker 1: million solidly, and they're like, we're on five or six, okay, 96 00:04:25,080 --> 00:04:27,480 Speaker 1: come on, and that is yeah, that's not us. We're 97 00:04:27,520 --> 00:04:29,960 Speaker 1: still the little guy. Yeah that's true. And man, yeah, 98 00:04:30,000 --> 00:04:33,040 Speaker 1: this podcast talk it's got me feeling a little nostalgic. Uh, 99 00:04:33,080 --> 00:04:34,800 Speaker 1: And I kind of thought back to like when I 100 00:04:34,880 --> 00:04:37,880 Speaker 1: first started listening to podcasts, Do you remember, like what 101 00:04:37,960 --> 00:04:40,040 Speaker 1: your first podcast that you got into were no, I 102 00:04:40,080 --> 00:04:41,359 Speaker 1: don't like back in the day, trying to think what 103 00:04:41,400 --> 00:04:43,680 Speaker 1: was the first podcast I listened to, I don't remember, Okay, 104 00:04:43,720 --> 00:04:46,400 Speaker 1: So for me, it's very easy to identify because it 105 00:04:46,480 --> 00:04:48,440 Speaker 1: was a very distinct period in my life. It was 106 00:04:48,480 --> 00:04:51,080 Speaker 1: back around when the seventh Harry Potter book. Knew you 107 00:04:51,120 --> 00:04:52,920 Speaker 1: were going to say, a Harry Potter podcast. Maybe we've 108 00:04:52,960 --> 00:04:56,880 Speaker 1: talked about this before, but man, I totally was listening to. Uh. 109 00:04:56,880 --> 00:04:59,640 Speaker 1: I think it was Muggle Cast and PotterCast, and I'm 110 00:04:59,640 --> 00:05:02,400 Speaker 1: pretty are both of these are still around. But back 111 00:05:02,440 --> 00:05:05,360 Speaker 1: in two thousand six, dude, so long ago is fourteen 112 00:05:05,440 --> 00:05:07,680 Speaker 1: years ago? Like it was the normal thing. I feel 113 00:05:07,720 --> 00:05:09,240 Speaker 1: like even back then, I was kind of like, oh, yeah, 114 00:05:09,240 --> 00:05:11,520 Speaker 1: that's a podcast. People sit down, they talk about things 115 00:05:11,560 --> 00:05:14,240 Speaker 1: that they're interested in, and it's crazy. Two think. You know, 116 00:05:14,320 --> 00:05:16,120 Speaker 1: little did I know that that you and I that 117 00:05:16,160 --> 00:05:18,839 Speaker 1: we would be podcasting ourselves. You know, it's kind of nuts. 118 00:05:18,880 --> 00:05:21,680 Speaker 1: We're making it happen, and roade podcasters, stay away, We don't, 119 00:05:21,720 --> 00:05:23,839 Speaker 1: we don't need you. Back off, all right, Matt, Let's 120 00:05:24,040 --> 00:05:26,240 Speaker 1: keep going. Lots of books are coming out soon, and 121 00:05:26,279 --> 00:05:29,360 Speaker 1: that's because there were a lot of delays in book releases. 122 00:05:29,880 --> 00:05:32,440 Speaker 1: Due to the pandemic. Right production of new TV shows 123 00:05:32,480 --> 00:05:35,160 Speaker 1: and movies was obviously delayed as well, but book releases 124 00:05:35,320 --> 00:05:38,280 Speaker 1: fell into the same category. And now many of these 125 00:05:38,320 --> 00:05:40,240 Speaker 1: book releases that were delayed are set to hit the 126 00:05:40,279 --> 00:05:42,760 Speaker 1: market in a pretty short time frame. So this fall 127 00:05:42,839 --> 00:05:45,080 Speaker 1: we're gonna see just a ton of new books hitting 128 00:05:45,120 --> 00:05:47,520 Speaker 1: the shelves. So if you're somebody who reads a lot, 129 00:05:47,680 --> 00:05:49,799 Speaker 1: you might be excited about that. But at the same time, 130 00:05:50,080 --> 00:05:52,760 Speaker 1: printers are experiencing delays due to COVID, the people who 131 00:05:52,800 --> 00:05:56,200 Speaker 1: actually printing the physical books. So get ready for all 132 00:05:56,240 --> 00:05:59,039 Speaker 1: these books coming in the fall. But you printer jam, 133 00:05:59,040 --> 00:06:01,240 Speaker 1: but you might need to get that version. Yeah, yeah, 134 00:06:01,279 --> 00:06:03,359 Speaker 1: the printers jammed, and so you might need to, you know, 135 00:06:03,440 --> 00:06:05,120 Speaker 1: start reading on a kindle or on your phone or 136 00:06:05,160 --> 00:06:07,440 Speaker 1: something like that. Um if some of those books aren't 137 00:06:07,600 --> 00:06:09,599 Speaker 1: able to make it to market in the physical version, 138 00:06:09,880 --> 00:06:12,520 Speaker 1: um in the numbers that you know the publishers are 139 00:06:12,560 --> 00:06:14,560 Speaker 1: hoping for. So on the note of books, we're actually 140 00:06:14,600 --> 00:06:17,320 Speaker 1: going to give away a dozen books from authors who 141 00:06:17,360 --> 00:06:19,360 Speaker 1: we have had on the show, books like re Meet 142 00:06:19,400 --> 00:06:22,039 Speaker 1: Sadie's I Will Teach You to Be Rich. The Behavioral 143 00:06:22,120 --> 00:06:26,320 Speaker 1: Investor by Daniel Crosby Kurt Steinhorse, Can I have your attention? Man. 144 00:06:26,360 --> 00:06:28,080 Speaker 1: We've had the chance to to read so many great 145 00:06:28,120 --> 00:06:31,440 Speaker 1: books that pertain to personal finance, whether it be About Time, 146 00:06:31,520 --> 00:06:33,840 Speaker 1: you know, Laura vander Kame's book, or even like real 147 00:06:33,920 --> 00:06:36,760 Speaker 1: estate investing. And so now we are going to send 148 00:06:36,800 --> 00:06:38,840 Speaker 1: those books to you. We're gonna send them out to 149 00:06:38,880 --> 00:06:41,440 Speaker 1: four lucky listeners. So at the end of this episode, 150 00:06:41,440 --> 00:06:43,640 Speaker 1: we're gonna share how you can have a chance to win. 151 00:06:43,960 --> 00:06:46,000 Speaker 1: We'll explain all the details there, but it does have 152 00:06:46,120 --> 00:06:49,560 Speaker 1: something to do with reviews, so you can prepare yourself. Yes, 153 00:06:49,640 --> 00:06:51,960 Speaker 1: stay tuned for how you can have a chance to 154 00:06:51,960 --> 00:06:54,240 Speaker 1: win some of these awesome books. Uh, Matt, let's talk 155 00:06:54,279 --> 00:06:58,040 Speaker 1: about coupon clipping. You and I were not big coupon clippers, 156 00:06:58,560 --> 00:07:01,040 Speaker 1: and I've never really been a fan and of couponing. 157 00:07:01,200 --> 00:07:03,320 Speaker 1: It seems to take a lot of time and the 158 00:07:03,400 --> 00:07:06,280 Speaker 1: impact on your budget is pretty minimal for the most part. 159 00:07:06,600 --> 00:07:08,479 Speaker 1: But I read an article in the Wall Street Journal 160 00:07:08,640 --> 00:07:11,640 Speaker 1: that reports that physical coupons are in massive decline right now. 161 00:07:11,840 --> 00:07:14,480 Speaker 1: Especially these people are shopping for the groceries more online, 162 00:07:14,520 --> 00:07:17,120 Speaker 1: they're having them delivered or they're picking them up. But 163 00:07:17,280 --> 00:07:20,200 Speaker 1: they're outside getting their groceries, putting the back of their 164 00:07:20,200 --> 00:07:24,360 Speaker 1: car essentially, And companies are quickly shifting to digital coupons 165 00:07:24,480 --> 00:07:26,160 Speaker 1: right now, which makes a whole lot of sense. I 166 00:07:26,160 --> 00:07:28,880 Speaker 1: think digital coupons they take less time, there's less waste, 167 00:07:29,120 --> 00:07:32,640 Speaker 1: it's just far less annoying. I think I could potentially 168 00:07:32,680 --> 00:07:35,320 Speaker 1: get behind digital coupons, whereas I could never really get 169 00:07:35,320 --> 00:07:37,840 Speaker 1: behind the physical ones. Yeah, I've never gotten behind physical 170 00:07:37,840 --> 00:07:42,000 Speaker 1: coupons because aldi they don't take coupons. If all, he's 171 00:07:42,040 --> 00:07:45,400 Speaker 1: not doing coupons, I'm not doing coupon. You know. It's 172 00:07:45,400 --> 00:07:47,520 Speaker 1: one of those changes too. That's like it was already 173 00:07:47,560 --> 00:07:51,280 Speaker 1: happening before COVID, but the shift is now accelerating. Digital 174 00:07:51,320 --> 00:07:54,040 Speaker 1: coupons actually surpassed paper coupons for the first time ever 175 00:07:54,200 --> 00:07:56,200 Speaker 1: this year. And so, yeah, I'm with you, and I'm 176 00:07:56,240 --> 00:07:59,520 Speaker 1: way more likely to consider a digital coupon. But it's 177 00:07:59,560 --> 00:08:01,320 Speaker 1: also to this, it's not something I'm willing to put 178 00:08:01,320 --> 00:08:04,000 Speaker 1: a whole lot of mental energy towards. And so if 179 00:08:04,000 --> 00:08:05,680 Speaker 1: you're like me, if you're like Joel as well, we 180 00:08:05,680 --> 00:08:08,600 Speaker 1: would just recommend that you download Honey, a browser extension 181 00:08:08,640 --> 00:08:10,680 Speaker 1: like that you can just quickly click and see and 182 00:08:10,720 --> 00:08:13,560 Speaker 1: it will automatically run just all the various coupons that 183 00:08:13,560 --> 00:08:15,280 Speaker 1: are kind of out there floating on the internet. You'd 184 00:08:15,280 --> 00:08:17,960 Speaker 1: be surprised that how often it's gonna come back with 185 00:08:18,080 --> 00:08:20,480 Speaker 1: some coupon codes that actually work, and it might not, 186 00:08:20,600 --> 00:08:22,680 Speaker 1: you know, ten off your order, maybe give you some 187 00:08:22,720 --> 00:08:25,280 Speaker 1: free shipping. It just depends on the online seller. And 188 00:08:25,360 --> 00:08:27,520 Speaker 1: so if you don't have that downloaded yet for your 189 00:08:27,560 --> 00:08:29,920 Speaker 1: web browser, will make sure to link to it in 190 00:08:29,960 --> 00:08:31,800 Speaker 1: our show notes for this episode. Yeah, I feel like 191 00:08:32,120 --> 00:08:35,560 Speaker 1: the browser plug in something like Honey is like the 192 00:08:35,640 --> 00:08:39,959 Speaker 1: easy way to coupon effectively without having to go down 193 00:08:40,000 --> 00:08:43,160 Speaker 1: this rabbit hole of looking through this hounday paper, cutting 194 00:08:43,200 --> 00:08:45,679 Speaker 1: things out and then taking them to the store and 195 00:08:45,800 --> 00:08:48,160 Speaker 1: it's just keeping them organized, all that kind of stuff. 196 00:08:48,480 --> 00:08:50,400 Speaker 1: It's a pain. No one's got time for that, mane exactly. 197 00:08:50,520 --> 00:08:52,079 Speaker 1: At least I ain't got time for that. And that 198 00:08:52,240 --> 00:08:55,720 Speaker 1: recently we just talked about paying for convenience. I feel like, man, 199 00:08:55,800 --> 00:08:59,360 Speaker 1: that's like the most inconvenient thing is physical coupons. That's yeah, 200 00:08:59,360 --> 00:09:00,559 Speaker 1: that's just the way I think of it. Man. The 201 00:09:00,600 --> 00:09:02,840 Speaker 1: other thing too, for Mac users is I don't think 202 00:09:02,880 --> 00:09:05,720 Speaker 1: they used to have a browser extension for Safari, which 203 00:09:05,760 --> 00:09:08,080 Speaker 1: is like that, you know, it's the default Mac browser. 204 00:09:08,480 --> 00:09:10,280 Speaker 1: I think it used to only be on Chrome, but 205 00:09:10,640 --> 00:09:12,439 Speaker 1: you know, as of recently at least I know that 206 00:09:12,480 --> 00:09:14,880 Speaker 1: you can you can get an extension for Safari as well, 207 00:09:14,880 --> 00:09:16,400 Speaker 1: and it doesn't slow down the browser, you know, Like 208 00:09:16,480 --> 00:09:19,000 Speaker 1: That's the thing is a lot of times when you 209 00:09:19,040 --> 00:09:21,840 Speaker 1: install an extension, it'll kind of slow down your browser, 210 00:09:21,880 --> 00:09:24,640 Speaker 1: like there can be a noticeable difference. But I didn't 211 00:09:24,640 --> 00:09:28,559 Speaker 1: notice that at all when I activated Honey on Safari. Honestly, 212 00:09:28,559 --> 00:09:30,720 Speaker 1: I think when your browser does slow down, it's because 213 00:09:30,760 --> 00:09:32,840 Speaker 1: you just have too many extensions. When you're rocking, like 214 00:09:32,880 --> 00:09:35,080 Speaker 1: eight extensions, let me come on, your browser is gonna 215 00:09:35,080 --> 00:09:36,760 Speaker 1: be slower if you have that many. But some of them, 216 00:09:36,880 --> 00:09:38,920 Speaker 1: you know, ones that save you money are totally worth it, Yeah, 217 00:09:39,000 --> 00:09:42,240 Speaker 1: especially when it requires basically nothing from you but offers 218 00:09:42,240 --> 00:09:45,160 Speaker 1: you potential savings that you wouldn't have otherwise realized. All right, now, 219 00:09:45,200 --> 00:09:47,959 Speaker 1: let's get onto something else that is actually has been 220 00:09:47,960 --> 00:09:50,000 Speaker 1: really confusing for a whole lot of people, and I've 221 00:09:50,040 --> 00:09:52,760 Speaker 1: seen some confusion in the Facebook group surrounding this too. 222 00:09:53,160 --> 00:09:56,439 Speaker 1: Is the payroll tax holiday that started earlier this week 223 00:09:56,480 --> 00:10:00,000 Speaker 1: on September one. This was part of President Trump's executive 224 00:10:00,240 --> 00:10:03,360 Speaker 1: order last month. But employers have the option for the 225 00:10:03,400 --> 00:10:06,760 Speaker 1: remainder of the year to give your paycheck a little boost. Specifically, 226 00:10:06,800 --> 00:10:09,000 Speaker 1: you might see your paycheck go up by six point 227 00:10:09,040 --> 00:10:11,600 Speaker 1: two percent, and that's because the portion of your paycheck 228 00:10:11,640 --> 00:10:14,640 Speaker 1: that goes towards Social Security taxes, it doesn't apply to 229 00:10:14,760 --> 00:10:16,880 Speaker 1: the Medicare taxes, which is like almost one and a 230 00:10:16,880 --> 00:10:19,959 Speaker 1: half percent, And so if your employer opts in, you 231 00:10:20,080 --> 00:10:23,280 Speaker 1: will see a little more pay in your paycheck. But again, 232 00:10:23,480 --> 00:10:26,000 Speaker 1: this is only optional. Your employer doesn't have to participate. 233 00:10:26,000 --> 00:10:28,640 Speaker 1: They will likely be communicating to you, letting you know 234 00:10:28,840 --> 00:10:32,360 Speaker 1: via email whether or not they're participating and whether they're 235 00:10:32,360 --> 00:10:35,520 Speaker 1: going to essentially, uh add that extra money into your 236 00:10:35,520 --> 00:10:37,800 Speaker 1: paycheck for the rest of the year. It's not mandated, 237 00:10:37,840 --> 00:10:40,480 Speaker 1: so your employer doesn't have to participate. And actually, you know, 238 00:10:40,480 --> 00:10:42,920 Speaker 1: there's a pretty good reason that your employer won't participate, 239 00:10:43,120 --> 00:10:45,560 Speaker 1: and that's because this this peril tax holiday, it's only 240 00:10:45,559 --> 00:10:48,120 Speaker 1: a deferral. You know, it's not forgiveness. And so what 241 00:10:48,160 --> 00:10:50,440 Speaker 1: that means for you is is that if your employer 242 00:10:50,520 --> 00:10:52,880 Speaker 1: does participate, is that your paycheck will be a little 243 00:10:52,880 --> 00:10:55,520 Speaker 1: bit bigger, you know, for these last four months, but 244 00:10:55,520 --> 00:10:58,559 Speaker 1: then one for the first four months, your paycheck is 245 00:10:58,600 --> 00:11:02,120 Speaker 1: actually going to be smaller as those taxes are still owed. 246 00:11:02,480 --> 00:11:04,160 Speaker 1: And so it's almost like you're kind of borrowing from 247 00:11:04,160 --> 00:11:06,520 Speaker 1: yourself a little bit, you know, just four months from now. 248 00:11:06,679 --> 00:11:08,320 Speaker 1: And so I think a lot of employers are kind 249 00:11:08,320 --> 00:11:11,000 Speaker 1: of asking themselves, you know, do the benefits of this 250 00:11:11,120 --> 00:11:13,360 Speaker 1: kind of outweigh the hassle, And I think for a 251 00:11:13,360 --> 00:11:15,280 Speaker 1: lot of employers are gonna say, no, we're not gonna 252 00:11:15,320 --> 00:11:17,840 Speaker 1: do that. There's there's not really any real benefit. But 253 00:11:18,040 --> 00:11:20,200 Speaker 1: if you are a W two worker and you do 254 00:11:20,320 --> 00:11:23,800 Speaker 1: see your check increase, that's probably why it's also good 255 00:11:23,840 --> 00:11:26,079 Speaker 1: to be prepared knowing that chances are your check is 256 00:11:26,120 --> 00:11:28,520 Speaker 1: going to go down at the beginning of next year. Yeah, 257 00:11:28,520 --> 00:11:30,680 Speaker 1: you don't want to spend all that extra money and 258 00:11:30,720 --> 00:11:32,920 Speaker 1: then added into your budget and then realize at the 259 00:11:32,920 --> 00:11:35,600 Speaker 1: beginning of next year, wait a second, my paychecks just 260 00:11:35,600 --> 00:11:37,960 Speaker 1: got smaller, and I'm not used to living on on 261 00:11:38,000 --> 00:11:40,240 Speaker 1: this reduced amount of income exactly. I feel like we're 262 00:11:40,280 --> 00:11:42,560 Speaker 1: throwing people for a loop with that one, and it's just, yeah, 263 00:11:42,679 --> 00:11:45,480 Speaker 1: not smart policy. I don't think, but um, alright, Matt, 264 00:11:45,559 --> 00:11:47,959 Speaker 1: let's talk about two about There was a survey about 265 00:11:48,000 --> 00:11:51,160 Speaker 1: people and how they're feeling about not having to commute 266 00:11:51,280 --> 00:11:53,880 Speaker 1: right now, and as you would expect, they're pretty stoked 267 00:11:53,880 --> 00:11:56,040 Speaker 1: about it. We did an episode back in the day 268 00:11:56,040 --> 00:11:58,720 Speaker 1: about how your commute is killing you, and before the pandemic, 269 00:11:58,720 --> 00:12:01,280 Speaker 1: the average commute time was almost fifty five minutes. Right, 270 00:12:01,280 --> 00:12:02,880 Speaker 1: that's such a huge chunk of your day spent in 271 00:12:02,920 --> 00:12:05,720 Speaker 1: the car basically an hour, Yeah, hopefully listening to some 272 00:12:05,760 --> 00:12:08,240 Speaker 1: good music, some good podcasts. But many of us have 273 00:12:08,280 --> 00:12:10,800 Speaker 1: gotten most are all that time back in our lives 274 00:12:11,080 --> 00:12:13,720 Speaker 1: as we're working from home more frequently. And not only 275 00:12:13,800 --> 00:12:17,560 Speaker 1: are people just happier not having basically an hour of 276 00:12:17,559 --> 00:12:20,080 Speaker 1: their day, some people more, some people less where they're 277 00:12:20,080 --> 00:12:22,400 Speaker 1: in the car commuting, but also too, they're saving money 278 00:12:22,480 --> 00:12:25,200 Speaker 1: because of it, which is really awesome. Yeah, and upwark 279 00:12:25,240 --> 00:12:28,040 Speaker 1: survey they actually found that Americans have saved more than 280 00:12:28,160 --> 00:12:31,960 Speaker 1: ninety billion dollars man since mid March. When you take time, gas, 281 00:12:32,000 --> 00:12:35,079 Speaker 1: health costs into account, billion dollars that's so much money. 282 00:12:35,240 --> 00:12:36,400 Speaker 1: But that being said, I man, I know a lot 283 00:12:36,440 --> 00:12:38,800 Speaker 1: of people that they actually miss going into the office, 284 00:12:38,800 --> 00:12:41,040 Speaker 1: you know, they miss some of that camaraderie, they miss uh, 285 00:12:41,120 --> 00:12:43,800 Speaker 1: maybe having more division between their personal life and work. 286 00:12:44,480 --> 00:12:47,800 Speaker 1: But the benefits of not commuting seems to outweigh the 287 00:12:47,880 --> 00:12:50,559 Speaker 1: things that we've given up and not having to commute. Man, 288 00:12:50,559 --> 00:12:53,120 Speaker 1: that's got to be the number one perk of working 289 00:12:53,160 --> 00:12:54,960 Speaker 1: from home. Although I gotta say, I think a lot 290 00:12:54,960 --> 00:12:56,640 Speaker 1: of people, like you said, like they would listen to 291 00:12:56,720 --> 00:12:59,840 Speaker 1: music or podcast during that commute home, and I think 292 00:13:00,000 --> 00:13:01,560 Speaker 1: that was probably a helpful time for a lot of 293 00:13:01,559 --> 00:13:04,600 Speaker 1: people to kind of decompress from their work unless you're 294 00:13:04,640 --> 00:13:06,880 Speaker 1: stuck in traffic. True, yeah, yeah, but you know, this 295 00:13:06,960 --> 00:13:08,520 Speaker 1: is now a period of time that people don't have 296 00:13:08,600 --> 00:13:10,599 Speaker 1: to kind of unwind a little bit, and so I 297 00:13:10,600 --> 00:13:11,760 Speaker 1: don't know, I think it might be helpful for a 298 00:13:11,800 --> 00:13:14,240 Speaker 1: lot of individuals to if they have the ability to 299 00:13:14,360 --> 00:13:16,680 Speaker 1: do this, to like take ten or fifteen minutes like 300 00:13:16,760 --> 00:13:18,680 Speaker 1: after they finished work and maybe just go for a 301 00:13:18,720 --> 00:13:21,240 Speaker 1: walk around the block or listen to some music to 302 00:13:21,280 --> 00:13:24,040 Speaker 1: where they're not bringing some of that stress, you know, 303 00:13:24,120 --> 00:13:26,280 Speaker 1: into their personal life a little bit. I think that's 304 00:13:26,280 --> 00:13:28,560 Speaker 1: the way that families can maybe feel short changed a 305 00:13:28,559 --> 00:13:31,160 Speaker 1: little bit. You know, if if I'm showing up and 306 00:13:31,200 --> 00:13:33,200 Speaker 1: then I'm kind of like stressed about something or I'm 307 00:13:33,240 --> 00:13:35,040 Speaker 1: still thinking about a problem that I'm trying to solve, 308 00:13:35,600 --> 00:13:37,280 Speaker 1: or thinking about an email or something like that. That's 309 00:13:37,320 --> 00:13:39,000 Speaker 1: not really fair to to my kids who are like 310 00:13:39,000 --> 00:13:41,120 Speaker 1: ready to play. You know. You know that's good for 311 00:13:41,160 --> 00:13:43,040 Speaker 1: us to bring some of that creative energy into our 312 00:13:43,080 --> 00:13:46,200 Speaker 1: families as well. Yeah, I think creating a barrier maybe yeah, 313 00:13:46,200 --> 00:13:49,080 Speaker 1: before you start work in the morning and some sort 314 00:13:49,080 --> 00:13:52,200 Speaker 1: of time barrier after you're done with work in the 315 00:13:52,240 --> 00:13:55,360 Speaker 1: evening is you can be super helpful and create that 316 00:13:55,360 --> 00:13:59,000 Speaker 1: that needed division between those different tasks so you can 317 00:13:59,080 --> 00:14:02,200 Speaker 1: be fully present for both things for work and for 318 00:14:02,200 --> 00:14:04,760 Speaker 1: for family time. All right, Matt, We've got more to 319 00:14:04,840 --> 00:14:08,599 Speaker 1: get to, including the frothy stock market and frothy frothy 320 00:14:09,720 --> 00:14:12,559 Speaker 1: like a nice chill drink. Well, it's you know, things 321 00:14:12,600 --> 00:14:14,960 Speaker 1: are getting a little crazy as the stock market continues 322 00:14:15,000 --> 00:14:16,800 Speaker 1: to soar. We're gonna talk about that, and we're gonna 323 00:14:16,840 --> 00:14:19,520 Speaker 1: talk about airline change fees or the lack thereof right 324 00:14:19,560 --> 00:14:30,680 Speaker 1: after this break. All right, man, we are back to 325 00:14:30,720 --> 00:14:33,440 Speaker 1: the break and before we talk about the frothy market, which, 326 00:14:33,440 --> 00:14:35,440 Speaker 1: by the way, when you said that you say, frothy, 327 00:14:35,440 --> 00:14:37,120 Speaker 1: and it makes me think of like people foaming at 328 00:14:37,160 --> 00:14:39,040 Speaker 1: the mouth a little bit, like their mouth is frothy 329 00:14:39,080 --> 00:14:41,360 Speaker 1: and it's like they yeah, like they have rabies or 330 00:14:41,400 --> 00:14:44,680 Speaker 1: something that makes me think of old yellow. Then that's 331 00:14:45,000 --> 00:14:48,480 Speaker 1: a very uplifting movie. Well, no, I think it just 332 00:14:48,560 --> 00:14:50,640 Speaker 1: means that, you know, people are there's a lot of 333 00:14:50,680 --> 00:14:52,800 Speaker 1: action in the market right now and we're at all 334 00:14:52,880 --> 00:14:56,400 Speaker 1: time highs. Like it's churning. It's churning, yeah, bubbly exactly. Okay, 335 00:14:56,440 --> 00:14:57,840 Speaker 1: there's a lot of that kind of going on right now. 336 00:14:57,920 --> 00:14:59,960 Speaker 1: Like you're in a bubble bath. There's lots of bubbles 337 00:15:00,000 --> 00:15:01,920 Speaker 1: flashing around. Got it all right, So before we talk 338 00:15:01,920 --> 00:15:04,520 Speaker 1: about the stock markets, let's mention the change fees that 339 00:15:04,600 --> 00:15:06,240 Speaker 1: you mentioned at the beginning of the episode. They are 340 00:15:06,280 --> 00:15:09,880 Speaker 1: being waived man by the major airlines United American, Alaska 341 00:15:09,880 --> 00:15:12,600 Speaker 1: and Delta. They announced earlier this week that they will 342 00:15:12,640 --> 00:15:16,200 Speaker 1: be acting change fees moving forward Southwest. They've been doing 343 00:15:16,200 --> 00:15:18,240 Speaker 1: this for years, uh, and so it's nice to see 344 00:15:18,280 --> 00:15:21,360 Speaker 1: some of the big guys following suit. But here's the thing, man, 345 00:15:21,480 --> 00:15:24,520 Speaker 1: is that this isn't necessarily an altruistic move, you know, 346 00:15:24,600 --> 00:15:26,840 Speaker 1: like they're not doing this just to you know, gain 347 00:15:26,880 --> 00:15:29,720 Speaker 1: a more loyal customer base. It's not the goodness of 348 00:15:29,760 --> 00:15:31,760 Speaker 1: their hearts. No, no, no, well, actually I guess it 349 00:15:31,880 --> 00:15:33,920 Speaker 1: is to gain a more loyal customer base, like it 350 00:15:33,960 --> 00:15:35,480 Speaker 1: is to get more customers. They're not doing it to 351 00:15:35,480 --> 00:15:37,800 Speaker 1: be nice. They're doing it to make money, because it's 352 00:15:37,800 --> 00:15:40,160 Speaker 1: an attempt to convince people to start booking travel again 353 00:15:40,560 --> 00:15:42,520 Speaker 1: by by giving them a bit of security, you know, 354 00:15:42,600 --> 00:15:45,360 Speaker 1: like basically, we're at the end of peak summer travel 355 00:15:45,640 --> 00:15:48,440 Speaker 1: and they're realizing that, man, things are not looking very 356 00:15:48,480 --> 00:15:50,200 Speaker 1: good for this fall, for this winter, so they're trying 357 00:15:50,200 --> 00:15:52,440 Speaker 1: to entice some of those flyers back in. I man, 358 00:15:52,520 --> 00:15:55,000 Speaker 1: this is important because change fees with Delta and United 359 00:15:55,080 --> 00:15:57,640 Speaker 1: sometimes they can cost even more than the actual ticket 360 00:15:57,680 --> 00:15:59,720 Speaker 1: you purchased, you know, assuming you've got a really good deal. 361 00:16:00,240 --> 00:16:03,160 Speaker 1: The major airlines they scored almost three billion dollars and 362 00:16:03,280 --> 00:16:06,360 Speaker 1: change fees last year, so you know, these fees going away. 363 00:16:06,440 --> 00:16:09,080 Speaker 1: This is great news, even if it wasn't done out 364 00:16:09,120 --> 00:16:12,160 Speaker 1: of a customer centric approach, even if they weren't doing 365 00:16:12,160 --> 00:16:14,040 Speaker 1: it out of the goodness of their heart. Yeah, I 366 00:16:14,080 --> 00:16:15,960 Speaker 1: think the fact that you know, some of these airlines 367 00:16:16,040 --> 00:16:20,040 Speaker 1: left off their cheapest tier tickets from the elimination of 368 00:16:20,120 --> 00:16:23,240 Speaker 1: change fees kind of goes to show that they're they're saying, 369 00:16:23,320 --> 00:16:24,960 Speaker 1: you know, if you know, if you bought the cheapest ticket, 370 00:16:25,200 --> 00:16:26,720 Speaker 1: you're still gonna have to pay change to be sorry 371 00:16:26,720 --> 00:16:29,200 Speaker 1: about that. If you buy the more expensive tickets, then 372 00:16:29,400 --> 00:16:31,360 Speaker 1: we'll wave that on you. Um. So it's not like 373 00:16:31,400 --> 00:16:35,440 Speaker 1: they're eliminating them all together for every single tier of travel. Um. 374 00:16:35,560 --> 00:16:38,160 Speaker 1: But yeah, it's important to note that. And by the way, 375 00:16:38,320 --> 00:16:41,640 Speaker 1: United stated clearly this was a quote unquote permanent move 376 00:16:41,720 --> 00:16:44,480 Speaker 1: for them, right. American and Delta did not say that though, 377 00:16:44,800 --> 00:16:46,800 Speaker 1: that the dropping the change fees was going to be permanent. 378 00:16:46,840 --> 00:16:50,640 Speaker 1: They're basically saying from henceforth for thee like I mean, 379 00:16:50,640 --> 00:16:53,320 Speaker 1: I mean now no fees, Yeah, exactly, but they haven't 380 00:16:53,320 --> 00:16:55,800 Speaker 1: committed to it being you know, super long term. Um. 381 00:16:55,840 --> 00:16:57,760 Speaker 1: And and by the way, too, if airlines are looking 382 00:16:57,760 --> 00:17:00,120 Speaker 1: to wave fees on us, which I'm all about, I'm 383 00:17:00,120 --> 00:17:02,760 Speaker 1: all about fewer fees because these kind of fees are 384 00:17:02,800 --> 00:17:05,720 Speaker 1: just annoying and they make me want to fly Southwest instead. Well, 385 00:17:05,800 --> 00:17:08,840 Speaker 1: Southwest also doesn't charge bag fees, so maybe the major 386 00:17:08,920 --> 00:17:12,040 Speaker 1: carrier should consider waving those as well, and not just 387 00:17:12,160 --> 00:17:14,199 Speaker 1: for the next year or two, but all the way 388 00:17:14,200 --> 00:17:17,199 Speaker 1: into the future, because those things annoy customers, and if 389 00:17:17,200 --> 00:17:19,680 Speaker 1: you want to build a loyal customer base, which you're 390 00:17:19,680 --> 00:17:22,200 Speaker 1: going to need to do moving forward, eliminate these fees, 391 00:17:22,200 --> 00:17:23,720 Speaker 1: get rid of them all together. I would love to 392 00:17:23,760 --> 00:17:26,480 Speaker 1: see all the airlines basically eliminate all fees and then 393 00:17:26,480 --> 00:17:28,240 Speaker 1: just build that into the overall cost of the ticket. 394 00:17:28,280 --> 00:17:29,640 Speaker 1: How much better would it be if they were able 395 00:17:29,680 --> 00:17:32,720 Speaker 1: to kind of simplify the ticket purchasing process. And I 396 00:17:32,760 --> 00:17:35,240 Speaker 1: think that's probably, honestly, why they aren't doing that is 397 00:17:35,280 --> 00:17:37,280 Speaker 1: because they don't want people to be able to easily 398 00:17:37,320 --> 00:17:39,560 Speaker 1: compare apples to apples, you know, like they're able to 399 00:17:39,800 --> 00:17:41,159 Speaker 1: say that they've got a lower rate, but then they 400 00:17:41,240 --> 00:17:43,480 Speaker 1: tackle on all these additional fees. Well, part of it is, 401 00:17:43,560 --> 00:17:45,879 Speaker 1: you know, when you go to a flight search engine 402 00:17:45,880 --> 00:17:48,000 Speaker 1: like Google dot Com slash flights, which is, you know, 403 00:17:48,080 --> 00:17:50,760 Speaker 1: the easiest place to to find the lowest fares from 404 00:17:50,800 --> 00:17:53,440 Speaker 1: all the major carriers. You get there and you're like, oh, wow, 405 00:17:53,520 --> 00:17:56,640 Speaker 1: forty nine one way from American that's great, um, and 406 00:17:56,720 --> 00:17:58,760 Speaker 1: you compare to these other carriers, but you're not actually 407 00:17:58,800 --> 00:18:01,199 Speaker 1: comparing apples to apples because of those fees thrown and 408 00:18:01,240 --> 00:18:02,760 Speaker 1: they want to look good on the front end in 409 00:18:02,760 --> 00:18:05,200 Speaker 1: the search results, and then once you're through to their 410 00:18:05,200 --> 00:18:08,280 Speaker 1: website and you're looking to book, you're like, there's these 411 00:18:08,280 --> 00:18:10,000 Speaker 1: other fees. I didn't even think about it, And that's 412 00:18:10,000 --> 00:18:11,720 Speaker 1: how they get you. It's a bumber that they do that, 413 00:18:11,920 --> 00:18:14,119 Speaker 1: and I wish there was a little more transparency. Man. 414 00:18:14,200 --> 00:18:18,080 Speaker 1: Let's talk about investing. We've seen a lot of headlines lately, uh, 415 00:18:18,119 --> 00:18:20,879 Speaker 1: and we've seen headlines about companies like Tesla who are 416 00:18:20,920 --> 00:18:24,679 Speaker 1: up nearly this year, which is mind blowing, you know, 417 00:18:24,720 --> 00:18:27,200 Speaker 1: and when you start getting stock tips from your neighbors 418 00:18:27,200 --> 00:18:30,320 Speaker 1: and friends, you need to beware. Headlines on all the 419 00:18:30,320 --> 00:18:33,480 Speaker 1: major newspapers and financial sites. We're talking about how individual 420 00:18:33,520 --> 00:18:36,119 Speaker 1: investors are are shaping the stock market. And as market 421 00:18:36,160 --> 00:18:38,720 Speaker 1: sore man, it garners a lot of interest from people 422 00:18:38,760 --> 00:18:40,879 Speaker 1: hoping to to make a quick buck. I mean it 423 00:18:40,920 --> 00:18:42,879 Speaker 1: even turns my head a little bit. I see Tesla 424 00:18:42,920 --> 00:18:45,240 Speaker 1: and I think, why was I not invested in Tesla? 425 00:18:46,119 --> 00:18:48,880 Speaker 1: Come on? And so we've seen that with individual companies. 426 00:18:49,040 --> 00:18:51,600 Speaker 1: We've seen that even with certain sectors of ETFs and 427 00:18:51,640 --> 00:18:54,200 Speaker 1: with bankrupt companies to you like Hurts. And additionally, we're 428 00:18:54,200 --> 00:18:57,480 Speaker 1: seeing a lot of novice investors starting to ask about 429 00:18:57,520 --> 00:18:59,439 Speaker 1: tech companies, you know, like Apple and Zoom, you know, 430 00:18:59,520 --> 00:19:01,000 Speaker 1: like they're saying and should I, should I be hopping 431 00:19:01,000 --> 00:19:03,919 Speaker 1: in now? And so when people who would normally have 432 00:19:04,040 --> 00:19:06,760 Speaker 1: zero interests in the financial markets are starting to kind 433 00:19:06,800 --> 00:19:09,760 Speaker 1: of dabble in risky and speculative investments, it shouldn't make 434 00:19:09,760 --> 00:19:13,280 Speaker 1: the rest of us long term investors really cautious. Yeah, 435 00:19:13,280 --> 00:19:15,520 Speaker 1: And by cautious, Matt, that doesn't mean that we shouldn't 436 00:19:15,520 --> 00:19:18,400 Speaker 1: continue to invest right. It doesn't mean that we shouldn't 437 00:19:18,400 --> 00:19:21,320 Speaker 1: continue to dollar cost average, which basically means putting in 438 00:19:21,480 --> 00:19:23,520 Speaker 1: money every paycheck into your four O one K or 439 00:19:23,600 --> 00:19:26,400 Speaker 1: having a deduction from your checking your savings account every 440 00:19:26,400 --> 00:19:29,639 Speaker 1: month directly into an I RA, keep investing on the 441 00:19:29,720 --> 00:19:33,000 Speaker 1: leg and hold those funds for decades. We still think 442 00:19:33,040 --> 00:19:35,359 Speaker 1: that's the best way to go. But it's important to 443 00:19:35,440 --> 00:19:37,280 Speaker 1: know that these signs of exuberance can be like a 444 00:19:37,280 --> 00:19:39,520 Speaker 1: little warning light that we might be on the verge 445 00:19:39,520 --> 00:19:43,199 Speaker 1: of experiencing more volatility in the future. And it's always 446 00:19:43,200 --> 00:19:46,440 Speaker 1: fun on the way up. Everybody's enthusiastic, but when things 447 00:19:46,440 --> 00:19:49,280 Speaker 1: do become more volatile. A lot of people who were 448 00:19:49,320 --> 00:19:52,040 Speaker 1: treating the stock market as a way to make money 449 00:19:52,080 --> 00:19:55,320 Speaker 1: really quickly get hit hard when the market does become 450 00:19:55,440 --> 00:19:57,960 Speaker 1: more volatile, and so we don't want you to be 451 00:19:58,000 --> 00:20:00,000 Speaker 1: in that group of people. We talked a little bit more, 452 00:20:00,000 --> 00:20:02,280 Speaker 1: were in depth about investing in a volatile market backend 453 00:20:02,280 --> 00:20:04,920 Speaker 1: Episode two hundred. So we would suggest you check that 454 00:20:04,960 --> 00:20:07,080 Speaker 1: out if you haven't, but don't pay too much attention 455 00:20:07,119 --> 00:20:10,160 Speaker 1: to the headlines or to your neighbors stock pick recommendations. 456 00:20:10,359 --> 00:20:13,240 Speaker 1: That's a recipe for investing disaster for you if you 457 00:20:13,280 --> 00:20:16,520 Speaker 1: start to listen to what they're saying and invest accordingly. Yeah, 458 00:20:16,560 --> 00:20:19,440 Speaker 1: and speaking of financial disaster, if you were to partake 459 00:20:19,680 --> 00:20:21,679 Speaker 1: in some of that speculative trading, that could lead to 460 00:20:21,920 --> 00:20:25,720 Speaker 1: maybe heightened levels of anxiety and stress. We came across 461 00:20:25,760 --> 00:20:27,959 Speaker 1: an article recently in the Financial Times and they were 462 00:20:27,960 --> 00:20:31,879 Speaker 1: discussing this, you know, newish maybe phenomena of therapists helping 463 00:20:31,880 --> 00:20:35,400 Speaker 1: people deal with a financial shock that has come alongside 464 00:20:35,520 --> 00:20:39,000 Speaker 1: the pandemic. Understandably, people you know are wanting to talk 465 00:20:39,000 --> 00:20:41,080 Speaker 1: about their money, but the thing is they're so anxious 466 00:20:41,080 --> 00:20:44,000 Speaker 1: about it that they are paying money therapists to help 467 00:20:44,040 --> 00:20:46,680 Speaker 1: them way through their feelings. And some of these costs 468 00:20:46,720 --> 00:20:49,560 Speaker 1: men are really steep, you know, potentially over one thousand 469 00:20:49,560 --> 00:20:52,840 Speaker 1: dollars an hour. That's my hourly rate to Incidentally, that 470 00:20:53,000 --> 00:20:55,960 Speaker 1: is a very nice hourly rate, if right, that's what 471 00:20:56,040 --> 00:20:57,639 Speaker 1: you can charge, you know, I don't want to make 472 00:20:57,640 --> 00:21:00,320 Speaker 1: fun of people seeking the sort of financial counseling Joe 473 00:21:00,359 --> 00:21:02,680 Speaker 1: and I, like man, we understand how freeing it can 474 00:21:02,680 --> 00:21:05,320 Speaker 1: be to talk about money openly. It can have a 475 00:21:05,359 --> 00:21:08,879 Speaker 1: massive positive effect on your relationship to the green stuff. 476 00:21:09,280 --> 00:21:11,600 Speaker 1: But paying a thousand dollars an hour to talk about 477 00:21:11,640 --> 00:21:14,159 Speaker 1: money with a psychologist kind of feels like overkilled. Man, 478 00:21:14,200 --> 00:21:15,960 Speaker 1: doesn't seem like that's the direction you want to be 479 00:21:16,000 --> 00:21:19,040 Speaker 1: going in, no exactly, And you know, you and I 480 00:21:19,160 --> 00:21:21,840 Speaker 1: we don't discount either the role of a counselor or 481 00:21:21,840 --> 00:21:25,440 Speaker 1: a therapist in your life, or a theaalist or a theallist. 482 00:21:25,720 --> 00:21:29,520 Speaker 1: But paying money for like legit counseling is incredibly helpful 483 00:21:29,520 --> 00:21:31,720 Speaker 1: at different points in our lives. But if you're feeling 484 00:21:31,760 --> 00:21:35,439 Speaker 1: anxious in particular about money, paying a financial counselor I 485 00:21:35,480 --> 00:21:38,000 Speaker 1: think might be the wrong move. And that we did 486 00:21:38,000 --> 00:21:40,520 Speaker 1: an episode also about battling money anxiety. That was episode 487 00:21:40,560 --> 00:21:43,240 Speaker 1: one in particular, because we knew a lot of people 488 00:21:43,320 --> 00:21:45,720 Speaker 1: we were starting to get more anxious about their finances 489 00:21:45,880 --> 00:21:47,720 Speaker 1: right about at that point in time. So so check 490 00:21:47,840 --> 00:21:50,679 Speaker 1: that episode out. But instead of paying a ton of 491 00:21:50,720 --> 00:21:54,679 Speaker 1: money to a potential money counselor or money therapist, uh, 492 00:21:54,800 --> 00:21:58,080 Speaker 1: consider talking with a trusted friend for free. Sometimes we 493 00:21:58,160 --> 00:22:00,399 Speaker 1: just need to get something out of our head and 494 00:22:00,640 --> 00:22:02,520 Speaker 1: discuss it for a minute with somebody that that we 495 00:22:02,560 --> 00:22:05,720 Speaker 1: care about and it cares about us. Exposing our anxieties, 496 00:22:05,760 --> 00:22:08,080 Speaker 1: and in particular those money anxieties to the light of 497 00:22:08,160 --> 00:22:11,160 Speaker 1: day can be incredibly beneficial. That's one of the benefits 498 00:22:11,200 --> 00:22:12,440 Speaker 1: of the show. You know, Like you and I we 499 00:22:12,520 --> 00:22:14,560 Speaker 1: sit down and talk about money multiple times a week, 500 00:22:14,600 --> 00:22:17,560 Speaker 1: and we don't charge each other exactly. And actually, yeah, 501 00:22:17,640 --> 00:22:19,639 Speaker 1: you're right, um, although I'm going to send you an 502 00:22:19,640 --> 00:22:21,520 Speaker 1: invoice after this episode. Well, it's a good thing too 503 00:22:21,520 --> 00:22:23,959 Speaker 1: that we don't record some of the more personal details 504 00:22:23,960 --> 00:22:25,359 Speaker 1: where you kind of break down a little bit and 505 00:22:25,359 --> 00:22:27,000 Speaker 1: I don't nobody wants to hear that. That's true. That's 506 00:22:27,000 --> 00:22:29,119 Speaker 1: a good point. And and Matt too, you know, we 507 00:22:29,160 --> 00:22:31,760 Speaker 1: talked about when we're talking about the stock market, avoiding 508 00:22:31,800 --> 00:22:33,840 Speaker 1: some of the headlines, avoiding some of the hype, I mean, 509 00:22:33,880 --> 00:22:36,280 Speaker 1: at the same time, paying less attention to the news 510 00:22:36,320 --> 00:22:39,440 Speaker 1: and the market fluctuations. Sometimes it's the headlines and it's 511 00:22:39,480 --> 00:22:43,159 Speaker 1: the news stories that are directly UH causing an increase 512 00:22:43,200 --> 00:22:45,960 Speaker 1: in anxiety in our lives. So and especially if you've 513 00:22:46,040 --> 00:22:49,080 Speaker 1: started speculating with single stock investings, that's like we're saying, 514 00:22:49,560 --> 00:22:51,840 Speaker 1: you're going to experience more anxiety, and that is not 515 00:22:51,880 --> 00:22:53,919 Speaker 1: good for you, and that does not bode well for 516 00:22:53,960 --> 00:22:56,560 Speaker 1: your long term ability to to continue to be an investor. 517 00:22:56,880 --> 00:22:59,320 Speaker 1: So if you're having tough times keeping your money straight, 518 00:22:59,800 --> 00:23:01,680 Speaker 1: we would suggest, like we said, talking to a friend. 519 00:23:01,840 --> 00:23:03,840 Speaker 1: Also having a budget that you can stick to is 520 00:23:03,880 --> 00:23:06,000 Speaker 1: so helpful, and wine app is one of our favorite 521 00:23:06,000 --> 00:23:08,720 Speaker 1: sites for people to to check that out. It's called 522 00:23:08,760 --> 00:23:11,120 Speaker 1: You Need a Budget, and it's a practical budgeting tool 523 00:23:11,119 --> 00:23:13,439 Speaker 1: that helps you take control over your money so you 524 00:23:13,440 --> 00:23:17,040 Speaker 1: can avoid feeling overwhelmed. I feel like sometimes that combination 525 00:23:17,160 --> 00:23:19,520 Speaker 1: of having somebody that you can talk to and also 526 00:23:19,680 --> 00:23:23,080 Speaker 1: having that that software UH through a company like wine App, 527 00:23:23,440 --> 00:23:26,560 Speaker 1: can be that perfect combo of helping you take a 528 00:23:26,600 --> 00:23:29,160 Speaker 1: practical step and then also helping you take that emotional step, 529 00:23:29,200 --> 00:23:31,520 Speaker 1: and both at the same time can prevent some of 530 00:23:31,520 --> 00:23:34,200 Speaker 1: those money anxieties from welling up inside of us. Yeah. So, 531 00:23:34,280 --> 00:23:36,240 Speaker 1: on the note, if you don't have somebody who you 532 00:23:36,280 --> 00:23:38,320 Speaker 1: talk to about your money, it's not going to be 533 00:23:38,359 --> 00:23:40,800 Speaker 1: an easy conversation necessarily to start with somebody you know, like, 534 00:23:40,800 --> 00:23:42,400 Speaker 1: it's kind of this awkward thing. It's one of these 535 00:23:42,480 --> 00:23:45,320 Speaker 1: taboo topics that we tend to avoid. But countless times 536 00:23:45,320 --> 00:23:47,639 Speaker 1: on the podcast we've talked about how important it is 537 00:23:47,680 --> 00:23:50,560 Speaker 1: to be talking about your personal finances with somebody else, 538 00:23:50,920 --> 00:23:52,439 Speaker 1: and so in a lot of these cases, it's going 539 00:23:52,480 --> 00:23:55,800 Speaker 1: to take you initiating that conversation. You can't necessarily just 540 00:23:55,840 --> 00:23:57,320 Speaker 1: expect a friend to kind of text you out of 541 00:23:57,320 --> 00:23:59,760 Speaker 1: the blue this weekend to talk about money. Since you 542 00:23:59,840 --> 00:24:02,360 Speaker 1: are the one who's listening to the Money podcast, we're 543 00:24:02,359 --> 00:24:05,359 Speaker 1: gonna say that responsibility falls on you. Yeah. I think 544 00:24:05,400 --> 00:24:08,040 Speaker 1: sometimes we get so nervous about the beginning of something, 545 00:24:08,119 --> 00:24:10,679 Speaker 1: actually starting the conversation, but it's kind of one of 546 00:24:10,680 --> 00:24:13,520 Speaker 1: those things too, where immediately after you begin it, you 547 00:24:13,560 --> 00:24:16,560 Speaker 1: feel relief and it's so much easier than you thought 548 00:24:16,560 --> 00:24:18,520 Speaker 1: it was going to be. So yeah, open the floodgates 549 00:24:18,520 --> 00:24:20,760 Speaker 1: this weekend with the long weekend, Uh, talk to somebody 550 00:24:20,760 --> 00:24:23,320 Speaker 1: about money. That's right, man. And so now we're at 551 00:24:23,359 --> 00:24:24,840 Speaker 1: the point to where we are going to tell you 552 00:24:24,880 --> 00:24:28,080 Speaker 1: how you can raid our bookshelf. It's gonna be really easy, 553 00:24:28,119 --> 00:24:30,800 Speaker 1: and we're gonna give away twelve different books to four 554 00:24:31,040 --> 00:24:33,639 Speaker 1: separate listeners. We're gonna kind of break these books up 555 00:24:33,640 --> 00:24:36,119 Speaker 1: into little groups of three with a nice variety and 556 00:24:36,160 --> 00:24:38,520 Speaker 1: each one of these little packages. And they're all romance 557 00:24:38,560 --> 00:24:42,080 Speaker 1: novels by the way. Yeah, they're all Daniel Steel novels, right, favorite. 558 00:24:42,280 --> 00:24:44,320 Speaker 1: Isn't that the romance off there with like the ripped 559 00:24:44,359 --> 00:24:46,480 Speaker 1: dudes on the front? I think, so, I don't know 560 00:24:46,520 --> 00:24:48,400 Speaker 1: how a random now we're just joking at they're all 561 00:24:48,440 --> 00:24:51,320 Speaker 1: personal finance books literally from prior guests that we've had 562 00:24:51,359 --> 00:24:53,520 Speaker 1: on the show. And you know, we've got these books 563 00:24:53,560 --> 00:24:56,080 Speaker 1: sitting around and we're like, man, we got to read them, 564 00:24:56,080 --> 00:24:58,000 Speaker 1: We got to enjoy a conversation with somebody. Let's give 565 00:24:58,000 --> 00:25:00,400 Speaker 1: these books away now to some of our listeners. That's right, man. 566 00:25:00,440 --> 00:25:01,879 Speaker 1: We want to make sure that we are sharing the 567 00:25:01,920 --> 00:25:04,840 Speaker 1: wealth of knowledge that we've been able to accumulate over 568 00:25:04,840 --> 00:25:06,280 Speaker 1: the years. All right, so here's how you do it. 569 00:25:06,320 --> 00:25:08,520 Speaker 1: Step one, make sure that you leave us a written 570 00:25:08,520 --> 00:25:12,239 Speaker 1: review over at Apple Podcasts. If you haven't already done that, 571 00:25:12,560 --> 00:25:14,400 Speaker 1: then that's what you need to do. But here's the thing. 572 00:25:14,480 --> 00:25:16,560 Speaker 1: If you have already done that, then what you can 573 00:25:16,560 --> 00:25:19,000 Speaker 1: do is skip to step two, and then after your 574 00:25:19,000 --> 00:25:21,399 Speaker 1: that review is left, just emails at how to Money 575 00:25:21,400 --> 00:25:23,680 Speaker 1: Pod at Gmail with your handle or your screen name, 576 00:25:23,920 --> 00:25:26,600 Speaker 1: and then literally that's it. We're gonna take entries and 577 00:25:26,640 --> 00:25:30,400 Speaker 1: allow folks to register to win until Wednesday, Stember to ninth, 578 00:25:30,880 --> 00:25:33,640 Speaker 1: So that's next Wednesday at noon, and then we're gonna 579 00:25:33,640 --> 00:25:36,880 Speaker 1: announce the winners on our Friday Flight episode next week, 580 00:25:36,960 --> 00:25:40,080 Speaker 1: so one day from this episode being released. Yeah. So 581 00:25:40,080 --> 00:25:42,720 Speaker 1: it's a super easy chance to win some awesome personal 582 00:25:42,720 --> 00:25:44,840 Speaker 1: finance books that Matt and I have found helpful throughout 583 00:25:44,880 --> 00:25:46,919 Speaker 1: the years. I feel like the listeners are always asking, like, 584 00:25:46,960 --> 00:25:48,639 Speaker 1: what what are the personal finance books I should be 585 00:25:48,720 --> 00:25:51,240 Speaker 1: checking out? And here's a bunch of them. Yeah, this 586 00:25:51,280 --> 00:25:52,679 Speaker 1: is a bunch of them that you that you should 587 00:25:52,680 --> 00:25:55,160 Speaker 1: be reading and we're not getting for free. So yeah, 588 00:25:55,200 --> 00:25:57,240 Speaker 1: write a little review and send us out an email 589 00:25:57,320 --> 00:25:58,840 Speaker 1: the to let us know that you did it. You're 590 00:25:58,880 --> 00:26:00,679 Speaker 1: in it to win super easy. All right, Matt. That's 591 00:26:00,680 --> 00:26:02,880 Speaker 1: gonna do it for this episode. For folks that want 592 00:26:02,880 --> 00:26:05,000 Speaker 1: show notes for this episode and want to check out 593 00:26:05,040 --> 00:26:06,959 Speaker 1: all our other content, just go to our website at 594 00:26:06,960 --> 00:26:08,719 Speaker 1: how to money dot com. That's right, man, and that's 595 00:26:08,720 --> 00:26:10,800 Speaker 1: gonna be it for this episode. So until next time, 596 00:26:11,040 --> 00:26:12,800 Speaker 1: best friends out, best Friends Out,