1 00:00:00,120 --> 00:00:03,240 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt, 2 00:00:03,640 --> 00:00:27,200 Speaker 1: and today we're discussing rules for mindful spending, mindful of spending. Man, 3 00:00:27,360 --> 00:00:29,960 Speaker 1: I am glad we're gonna be talking about that this episode. 4 00:00:30,160 --> 00:00:31,319 Speaker 1: You know, a lot of that has to do with 5 00:00:31,360 --> 00:00:34,320 Speaker 1: being intentional with your money, with what you're spending your 6 00:00:34,360 --> 00:00:36,680 Speaker 1: money on. It's good to be intentional in all areas 7 00:00:36,680 --> 00:00:38,760 Speaker 1: of your life. But I feel like lately you and I, 8 00:00:38,760 --> 00:00:40,839 Speaker 1: I don't know, we've been having some discussions lately just 9 00:00:40,880 --> 00:00:43,120 Speaker 1: being intentional with our time, the energy that we give 10 00:00:43,159 --> 00:00:45,320 Speaker 1: towards our kids. Yeah, and it's no different when it 11 00:00:45,360 --> 00:00:47,720 Speaker 1: comes to our money. So we're also gonna be talking 12 00:00:47,720 --> 00:00:50,520 Speaker 1: about sales, how they may not be the best thing 13 00:00:50,600 --> 00:00:53,360 Speaker 1: for you or you know, depending on how you view sales. 14 00:00:53,440 --> 00:00:55,520 Speaker 1: That's fighting words for some people. You know, some people 15 00:00:55,560 --> 00:00:58,280 Speaker 1: love a good sales sale, right, and they will fight 16 00:00:58,320 --> 00:01:00,120 Speaker 1: you to the bitter end to let you know how 17 00:01:00,120 --> 00:01:01,959 Speaker 1: important it is to buy things on sale. And I'm 18 00:01:01,960 --> 00:01:03,840 Speaker 1: not against it all together, but that'll be kind of 19 00:01:03,880 --> 00:01:06,839 Speaker 1: an interesting thing to get into in this episode, Matt. 20 00:01:06,920 --> 00:01:08,640 Speaker 1: Before we kind of get into it, I wanted to 21 00:01:08,680 --> 00:01:11,520 Speaker 1: ask you a question, kind of a frugal or cheap question? 22 00:01:12,120 --> 00:01:16,440 Speaker 1: Would you buy a mattress off of Facebook yard sale site? 23 00:01:16,640 --> 00:01:19,400 Speaker 1: Like would you go there and buy a used mattress 24 00:01:19,440 --> 00:01:22,240 Speaker 1: from somebody? Okay, so Joel, you're asking me this question, 25 00:01:22,680 --> 00:01:24,560 Speaker 1: which tells me that you don't know the story about 26 00:01:24,720 --> 00:01:28,360 Speaker 1: when Kate and I got a mattress off Facebook? Did 27 00:01:28,400 --> 00:01:30,559 Speaker 1: you know that? I don't think I do that. Wait, 28 00:01:30,640 --> 00:01:33,120 Speaker 1: I knew you guys have a used hand me down mattress, 29 00:01:33,120 --> 00:01:35,520 Speaker 1: and and so do we. But we actually, I guess 30 00:01:35,600 --> 00:01:37,360 Speaker 1: kind of third hand knew the folks that we got 31 00:01:37,360 --> 00:01:39,560 Speaker 1: it from. Well, okay, so that's sort of our situation, 32 00:01:39,600 --> 00:01:43,320 Speaker 1: but it was second hand knowing through Facebook. It popped 33 00:01:43,360 --> 00:01:45,720 Speaker 1: up on Facebook, and it was a girl that I 34 00:01:45,800 --> 00:01:48,760 Speaker 1: knew in college, which sounds kind of weird, but her 35 00:01:48,760 --> 00:01:50,480 Speaker 1: and I we were in some classes together and the 36 00:01:50,560 --> 00:01:53,520 Speaker 1: journalism school. We're Facebook friends. And then turns out they 37 00:01:53,560 --> 00:01:57,040 Speaker 1: live in Atlanta, in a nearby neighborhood and they posted 38 00:01:57,080 --> 00:01:59,280 Speaker 1: a really nice mattress like it was one of those 39 00:01:59,280 --> 00:02:02,760 Speaker 1: fancy one air sleeper two thousand uber fancy you know 40 00:02:02,760 --> 00:02:05,120 Speaker 1: what I'm talking about. Oh yeah, And so I thought 41 00:02:05,160 --> 00:02:06,840 Speaker 1: this is kind of weird, but is it kind with 42 00:02:06,840 --> 00:02:08,280 Speaker 1: the remote in it, you can like sit up in 43 00:02:08,320 --> 00:02:10,959 Speaker 1: it because those look awesome. No, no, I wish. Actually 44 00:02:10,960 --> 00:02:12,400 Speaker 1: I kind of don't wish because I feel like those 45 00:02:12,440 --> 00:02:14,880 Speaker 1: are just bound to break and it's sucking, right, you know. 46 00:02:14,919 --> 00:02:17,360 Speaker 1: I always chalk those up to me and for old people. 47 00:02:17,360 --> 00:02:19,239 Speaker 1: But I don't think it's a case anymore. And I 48 00:02:19,280 --> 00:02:21,280 Speaker 1: would totally rock. I'll be able to sit in bed 49 00:02:21,280 --> 00:02:23,680 Speaker 1: and read I do it. That would be nice. Yeah, anyway, 50 00:02:23,720 --> 00:02:25,760 Speaker 1: But I ran over there and it turns out they 51 00:02:25,760 --> 00:02:27,520 Speaker 1: actually live the next door to some good friends of 52 00:02:27,520 --> 00:02:29,840 Speaker 1: ours as well, and so they know them. And so 53 00:02:29,840 --> 00:02:32,200 Speaker 1: because that it felt less weird. I guess it's like, Okay, 54 00:02:32,200 --> 00:02:34,200 Speaker 1: I know you from college, you guys from college, and 55 00:02:34,200 --> 00:02:36,360 Speaker 1: also your next door neighbors to some friends of ours, 56 00:02:36,639 --> 00:02:39,040 Speaker 1: it still felt weird. So because it was in such 57 00:02:39,080 --> 00:02:41,079 Speaker 1: good shape though, the mattress was in really good shape, 58 00:02:41,560 --> 00:02:44,520 Speaker 1: and because of that, that's currently still the mattress that 59 00:02:44,560 --> 00:02:47,120 Speaker 1: Kate and I sleep on. So, if you didn't have 60 00:02:47,160 --> 00:02:49,760 Speaker 1: a connection where you knew the person, would you buy 61 00:02:49,800 --> 00:02:53,120 Speaker 1: a mattress from someone in the neighborhood. I totally rando 62 00:02:53,400 --> 00:02:55,720 Speaker 1: a random person off the r tail site. Man, I 63 00:02:55,760 --> 00:02:57,519 Speaker 1: don't know that's that's such a hard question because you 64 00:02:57,560 --> 00:03:00,160 Speaker 1: can't go over there and like look at it and say, oh, 65 00:03:00,160 --> 00:03:02,200 Speaker 1: it looks kind of stained or oh it smells weird, 66 00:03:02,320 --> 00:03:04,320 Speaker 1: right like once you go over to it to get it. 67 00:03:04,480 --> 00:03:06,200 Speaker 1: I don't know. I think you can. I think I would. 68 00:03:06,280 --> 00:03:07,680 Speaker 1: I think that you can shop it and give it 69 00:03:07,680 --> 00:03:09,360 Speaker 1: a sniff. I think i'd have to say, I'm backing 70 00:03:09,360 --> 00:03:11,560 Speaker 1: out of this one. It looks a little wonky, like 71 00:03:11,760 --> 00:03:14,000 Speaker 1: I'm not in Okay, wait how much is it? Though? 72 00:03:14,200 --> 00:03:16,720 Speaker 1: So mine was free? Okay, Like ours was totally free. 73 00:03:16,800 --> 00:03:18,480 Speaker 1: So I felt like if I was going over to 74 00:03:18,480 --> 00:03:20,880 Speaker 1: pick it up, I had to pick it up. You know. Yeah, 75 00:03:20,880 --> 00:03:22,959 Speaker 1: if you're paying money, it's a different story. Well, I 76 00:03:23,000 --> 00:03:24,480 Speaker 1: don't know. I saw one the other day on there 77 00:03:24,680 --> 00:03:27,280 Speaker 1: is a king size bed. They said it was three 78 00:03:27,360 --> 00:03:31,440 Speaker 1: months old and for bucks with the platform that goes 79 00:03:31,520 --> 00:03:33,560 Speaker 1: underneath it, and so I was like, it's like a 80 00:03:33,600 --> 00:03:35,000 Speaker 1: good deal man. I was like, that's a good deal. 81 00:03:35,040 --> 00:03:36,840 Speaker 1: I think I might check this out. But then I 82 00:03:36,840 --> 00:03:38,640 Speaker 1: got kind of the weird vibe. She was like, you're 83 00:03:38,640 --> 00:03:40,240 Speaker 1: gonna have to pick it up tonight, but I'm not 84 00:03:40,280 --> 00:03:42,480 Speaker 1: home until eleven. I was like, well, that's really weird. 85 00:03:42,560 --> 00:03:44,560 Speaker 1: That's like late, and I pick up. I don't think 86 00:03:44,600 --> 00:03:46,680 Speaker 1: I'm doing that, and then she's like, can you help 87 00:03:46,720 --> 00:03:49,640 Speaker 1: me back this into the van? You go first, Yeah, 88 00:03:50,600 --> 00:03:52,160 Speaker 1: slams the doors on you, and all of a sudden 89 00:03:52,200 --> 00:03:54,840 Speaker 1: you're getting driven off to a rock quarry. Yeah, exactly. 90 00:03:55,080 --> 00:03:57,600 Speaker 1: Who knows where I end up. So yeah, because of 91 00:03:57,640 --> 00:04:00,640 Speaker 1: the weirdness, I refrained kind of out of the deal. 92 00:04:00,680 --> 00:04:04,200 Speaker 1: But I think also actually mattresses have gotten cheaper with 93 00:04:04,280 --> 00:04:06,840 Speaker 1: the foam the phone ones that, yeah, the ones that 94 00:04:06,840 --> 00:04:09,120 Speaker 1: shipped straight to your door and stuff, and so you know, 95 00:04:09,120 --> 00:04:10,920 Speaker 1: I'm planning on doing a little more research on that 96 00:04:10,960 --> 00:04:12,760 Speaker 1: front because I think we would like a new mattress 97 00:04:12,800 --> 00:04:14,880 Speaker 1: at some point in the near future. And I'm okay 98 00:04:14,920 --> 00:04:17,680 Speaker 1: paying some money for something good because you sleep a 99 00:04:17,680 --> 00:04:20,760 Speaker 1: fair amount on a bed, so your life, man the 100 00:04:20,800 --> 00:04:22,200 Speaker 1: third of your life, so I think it is worth 101 00:04:22,240 --> 00:04:24,160 Speaker 1: spending some money to to get a good one. Do 102 00:04:24,200 --> 00:04:25,760 Speaker 1: you want to hear how I justified it with Kate, 103 00:04:25,920 --> 00:04:27,760 Speaker 1: how we would go and get a free mattress from 104 00:04:27,800 --> 00:04:30,400 Speaker 1: some raindo I knew in college? I told her I 105 00:04:30,400 --> 00:04:32,000 Speaker 1: would I would tie it to the roof of the car. 106 00:04:32,120 --> 00:04:33,960 Speaker 1: At the time, we had a station wagon and so 107 00:04:34,000 --> 00:04:36,000 Speaker 1: I strapped it to the roof really tight, and then 108 00:04:36,040 --> 00:04:39,200 Speaker 1: I got on the interstate and drove really fast, and 109 00:04:39,240 --> 00:04:41,400 Speaker 1: you're like, that'll get rid of well, that'll help air 110 00:04:41,440 --> 00:04:42,800 Speaker 1: it out a little bit, you know, like get rid 111 00:04:42,839 --> 00:04:45,279 Speaker 1: of any funk, any sort of like you know, debris. 112 00:04:45,320 --> 00:04:47,320 Speaker 1: I don't know stuff that by that I mean, I guess, 113 00:04:47,360 --> 00:04:49,920 Speaker 1: so like like I drove fast and all the dust 114 00:04:50,000 --> 00:04:51,520 Speaker 1: kind of stuff came out, and I'm telling you look 115 00:04:51,560 --> 00:04:53,880 Speaker 1: really good, was in great shape. We sleep really well 116 00:04:53,880 --> 00:04:55,320 Speaker 1: on it. Man. That's all I can say. All right, 117 00:04:55,560 --> 00:04:58,040 Speaker 1: sounds good. Well, I'm glad you're enjoying your free mattress. 118 00:04:58,320 --> 00:05:00,080 Speaker 1: I will say, though, at some point and then to 119 00:05:00,200 --> 00:05:03,320 Speaker 1: just in future, I will spend money and actually finally 120 00:05:03,320 --> 00:05:06,679 Speaker 1: get us a decent adult mattress, because we're still rocking 121 00:05:06,720 --> 00:05:09,039 Speaker 1: the free one as well. But for now, let's mention 122 00:05:09,120 --> 00:05:10,800 Speaker 1: the beer that we're having on the show. We're drinking 123 00:05:11,160 --> 00:05:15,440 Speaker 1: National Cherry Blossom Festival by Old Ox Brewery. And this 124 00:05:15,520 --> 00:05:18,599 Speaker 1: is a beer brought to us by our friend Andrew 125 00:05:18,480 --> 00:05:20,680 Speaker 1: that you mentioned Old Ox Brewery. This is kind of 126 00:05:20,720 --> 00:05:23,040 Speaker 1: I guess on the outskirts of DC, maybe like a 127 00:05:23,040 --> 00:05:26,640 Speaker 1: an ex herb as Andrew, our buddy, likes to often say, uh, 128 00:05:26,680 --> 00:05:29,640 Speaker 1: this is a collaboration though with a national cherry blossom festival. 129 00:05:30,040 --> 00:05:31,919 Speaker 1: They made this beer with them, and they say a 130 00:05:31,920 --> 00:05:34,880 Speaker 1: portion of the sales benefit the National Cherry Blossom Festival. 131 00:05:34,960 --> 00:05:37,159 Speaker 1: So it's pretty cool. I like cherry blossoms. It's the 132 00:05:37,200 --> 00:05:39,279 Speaker 1: next time of year, right when the when those come around, 133 00:05:39,520 --> 00:05:41,760 Speaker 1: And we'll discuss our thoughts on this beer at the 134 00:05:41,880 --> 00:05:44,200 Speaker 1: end of this episode. But for now, Matt, let's get 135 00:05:44,200 --> 00:05:47,200 Speaker 1: to the topic at hand, rules for mindful spending. And 136 00:05:47,240 --> 00:05:49,560 Speaker 1: it turns out that we all waste money. You met 137 00:05:49,600 --> 00:05:53,120 Speaker 1: waste money, Matt. I waste money sometimes, but not on mattresses, 138 00:05:53,200 --> 00:05:55,839 Speaker 1: but not on mattresses. Have never wasted money on a mattress. 139 00:05:56,120 --> 00:06:00,200 Speaker 1: We're just grossing out all of our listeners talking about mattress. 140 00:06:00,200 --> 00:06:02,440 Speaker 1: Just let's just stop. So we're probably cheap. I think 141 00:06:02,520 --> 00:06:05,560 Speaker 1: that that most people will agree on on this front. Yeah, yeah, 142 00:06:05,600 --> 00:06:09,520 Speaker 1: but often we are more wasteful when we're feeling tired 143 00:06:09,680 --> 00:06:12,600 Speaker 1: or lazy, and being aware of some of the ways 144 00:06:12,600 --> 00:06:14,560 Speaker 1: that money flies out of our lives can help us 145 00:06:14,600 --> 00:06:17,480 Speaker 1: realize when it's happening so that we can change our habits. 146 00:06:17,760 --> 00:06:20,880 Speaker 1: There's a minimalist writer named Joshua Becker, and he wrote 147 00:06:20,880 --> 00:06:25,039 Speaker 1: on a blog that mindless consumption turns into excessive consumption. 148 00:06:25,320 --> 00:06:27,040 Speaker 1: And I think he's spot on with that, Matt, that 149 00:06:27,320 --> 00:06:30,680 Speaker 1: when we begin to spend on things without thinking about it, 150 00:06:30,960 --> 00:06:34,320 Speaker 1: we begin to be people that overspend. And that's a 151 00:06:34,360 --> 00:06:36,760 Speaker 1: problem in our culture, that's a problem in many of 152 00:06:36,760 --> 00:06:38,680 Speaker 1: our own personal lives. And I think there's a lot 153 00:06:38,720 --> 00:06:40,400 Speaker 1: that we can talk about in this episode that can 154 00:06:40,400 --> 00:06:43,799 Speaker 1: help people find some rules to implement when it comes 155 00:06:43,839 --> 00:06:46,120 Speaker 1: to how they spend their money and doing so in 156 00:06:46,120 --> 00:06:48,120 Speaker 1: a more thoughtful way. Yeah, Joe. And the first thing 157 00:06:48,279 --> 00:06:51,280 Speaker 1: that's worth noting, right, is that, contrary to popular belief 158 00:06:51,360 --> 00:06:54,600 Speaker 1: that like, we're not against spending money, but we want 159 00:06:54,600 --> 00:06:56,520 Speaker 1: to make sure that we're spending money on the things 160 00:06:56,560 --> 00:06:59,880 Speaker 1: that matter. What we hate is that mindless consumption, Right, Like, 161 00:07:00,000 --> 00:07:02,200 Speaker 1: I've got a cargo bike that costs two thou dollars. 162 00:07:02,560 --> 00:07:05,640 Speaker 1: I love that thing, I write it daily, and I 163 00:07:05,760 --> 00:07:08,120 Speaker 1: gather a whole lot of joy and utility from that thing. Like, 164 00:07:08,320 --> 00:07:10,440 Speaker 1: but two thousand dollars that is a lot of money. 165 00:07:10,720 --> 00:07:12,280 Speaker 1: And I think a lot of folks listening to this 166 00:07:12,320 --> 00:07:15,120 Speaker 1: would say, Mande's not gonna spend anything on a mattress, 167 00:07:15,200 --> 00:07:17,680 Speaker 1: but he's gonna spend two thousand dollars on a bicycle. 168 00:07:18,440 --> 00:07:21,440 Speaker 1: That seems crazy or unbalanced. But for me, spending that 169 00:07:21,520 --> 00:07:23,480 Speaker 1: kind of money on a bike, right, a bike that 170 00:07:23,520 --> 00:07:25,320 Speaker 1: I would not be able to get for free, is 171 00:07:25,360 --> 00:07:27,280 Speaker 1: something I am more than willing to do. That I'm 172 00:07:27,320 --> 00:07:30,240 Speaker 1: happy to do, and it's something that I did very deliberately, 173 00:07:30,280 --> 00:07:32,120 Speaker 1: with a whole lot of thought. Yeah. So a good 174 00:07:32,160 --> 00:07:34,200 Speaker 1: way to kind of take stock as we get into 175 00:07:34,200 --> 00:07:37,640 Speaker 1: this topic is to take a look at your recent purchases. 176 00:07:38,040 --> 00:07:41,200 Speaker 1: Maybe check out the last ten Amazon orders that you made. 177 00:07:41,640 --> 00:07:43,920 Speaker 1: Are you using those items that you purchased? Would you 178 00:07:43,960 --> 00:07:46,880 Speaker 1: purchase those items again? You know, it reminds me, Matt, 179 00:07:47,160 --> 00:07:49,800 Speaker 1: thinking of of those last ten purchases I made of 180 00:07:49,840 --> 00:07:52,760 Speaker 1: a purchase probably like ten thousand purchases ago, that I 181 00:07:52,800 --> 00:07:54,880 Speaker 1: made when I was in middle school. I bought a 182 00:07:54,920 --> 00:07:58,600 Speaker 1: second Dreamcast off off a friend nice and so he 183 00:07:58,640 --> 00:08:01,200 Speaker 1: came with all these games and the Dreamcast I think 184 00:08:01,240 --> 00:08:04,720 Speaker 1: was probably the least successful gaming system ever made. Maybe 185 00:08:04,720 --> 00:08:06,560 Speaker 1: I don't know. I don't think it did very well, 186 00:08:06,720 --> 00:08:08,520 Speaker 1: but I had a lot of fun with it. For 187 00:08:08,520 --> 00:08:11,240 Speaker 1: for a few days. But I just remember that pretty 188 00:08:11,280 --> 00:08:13,960 Speaker 1: much all my savings went into that one purchase, buying 189 00:08:13,960 --> 00:08:16,600 Speaker 1: that seg of Dreamcast, and honestly just didn't move the 190 00:08:16,600 --> 00:08:19,120 Speaker 1: needle in in the ways that I had hoped when 191 00:08:19,120 --> 00:08:21,520 Speaker 1: I was a kid. And I remember wishing that I 192 00:08:21,600 --> 00:08:24,160 Speaker 1: had money to do other things that summer, but I 193 00:08:24,160 --> 00:08:27,680 Speaker 1: had blown all my funds on that stupid gaming system 194 00:08:27,680 --> 00:08:30,760 Speaker 1: to play that crazy taxi game, and uh, and so 195 00:08:30,840 --> 00:08:32,439 Speaker 1: it was just looking back, like, I don't know, I 196 00:08:32,520 --> 00:08:34,480 Speaker 1: kind of keep that in my mind when I'm making 197 00:08:34,520 --> 00:08:36,560 Speaker 1: purchases now, like is it gonna end up being a 198 00:08:36,600 --> 00:08:39,679 Speaker 1: purchase that feels like that Dreamcast moment? Or is it 199 00:08:39,720 --> 00:08:42,199 Speaker 1: going to be a purchase that I feel like I'm 200 00:08:42,240 --> 00:08:45,440 Speaker 1: actually going to use and implement into my life for 201 00:08:45,559 --> 00:08:48,480 Speaker 1: the days and weeks to come, And and running it 202 00:08:48,480 --> 00:08:51,320 Speaker 1: through a filter like that for me helps to truly 203 00:08:51,360 --> 00:08:52,880 Speaker 1: go back to my middle school self and say, I'm 204 00:08:52,880 --> 00:08:54,880 Speaker 1: I actually going to use this or am I gonna 205 00:08:54,920 --> 00:08:57,120 Speaker 1: be bored with it in a few days or weeks? 206 00:08:57,200 --> 00:08:59,720 Speaker 1: And and I try to avoid purchases like that. And 207 00:08:59,720 --> 00:09:02,960 Speaker 1: I think going through your recent purchases, your recent purchase history, 208 00:09:03,240 --> 00:09:05,680 Speaker 1: can help you as you attempt to make better stock 209 00:09:05,679 --> 00:09:08,640 Speaker 1: of future purchases. Joe, I love that the Sega Dreamcast. 210 00:09:08,640 --> 00:09:10,280 Speaker 1: I don't even know what a Dreamcast is. Like I 211 00:09:10,280 --> 00:09:12,080 Speaker 1: know what a Sega Genesis was. I guess it was. 212 00:09:12,280 --> 00:09:14,520 Speaker 1: It was after the Genesis, Like, I guess it was 213 00:09:14,559 --> 00:09:18,400 Speaker 1: just a non fun Sega. Yeah, it had a couple 214 00:09:18,400 --> 00:09:20,480 Speaker 1: of cool games, but it never took off because yeah, 215 00:09:20,480 --> 00:09:23,000 Speaker 1: they just I don't think they had enough variety or 216 00:09:23,080 --> 00:09:26,280 Speaker 1: enough good games to justify its existence. So that's the 217 00:09:26,320 --> 00:09:28,920 Speaker 1: what though, Like looking at what you're purchasing, the next thing, 218 00:09:29,000 --> 00:09:31,160 Speaker 1: the next filter to kind of run your purchases through 219 00:09:31,320 --> 00:09:34,200 Speaker 1: is why. Ask yourself why do you spend money? Like 220 00:09:34,200 --> 00:09:36,400 Speaker 1: why are you spending money? And try to identify the 221 00:09:36,440 --> 00:09:38,720 Speaker 1: triggers that might be causing you to spend your money. 222 00:09:38,960 --> 00:09:41,160 Speaker 1: You know, in those instances, you can either sort of 223 00:09:41,200 --> 00:09:44,880 Speaker 1: fight those urges and be super disciplined, or you can 224 00:09:44,880 --> 00:09:47,200 Speaker 1: just remove those triggers altogether. But I think a lot 225 00:09:47,240 --> 00:09:49,679 Speaker 1: of times folks think, well, no, we I shouldn't just 226 00:09:49,720 --> 00:09:51,640 Speaker 1: remove those triggers. I should try to beat it. I 227 00:09:51,640 --> 00:09:53,920 Speaker 1: should be disciplined enough to to kind of conquer that. 228 00:09:54,240 --> 00:09:56,280 Speaker 1: But in the end, if the results are what matter. 229 00:09:56,360 --> 00:09:58,400 Speaker 1: We'll just do what you need to do to achieve 230 00:09:58,480 --> 00:10:00,440 Speaker 1: the results. Do what you need to do to spend 231 00:10:00,480 --> 00:10:03,280 Speaker 1: less money. And I think sometimes willpower can be overrated. 232 00:10:03,520 --> 00:10:06,920 Speaker 1: Essentially making the decision ahead of time for yourself as 233 00:10:06,920 --> 00:10:10,240 Speaker 1: opposed to trying to fight it in the moment. It's 234 00:10:10,280 --> 00:10:12,920 Speaker 1: so much easier, right, So if you're smart to fight 235 00:10:13,000 --> 00:10:15,000 Speaker 1: it ahead of time when you aren't in the moment. 236 00:10:15,080 --> 00:10:16,800 Speaker 1: Oh yeah, just like you said, like it's it's not 237 00:10:16,880 --> 00:10:18,960 Speaker 1: an incorrect way of doing it, it's probably like the 238 00:10:19,000 --> 00:10:21,160 Speaker 1: most smart and efficient way to do it. Yeah, it 239 00:10:21,160 --> 00:10:23,600 Speaker 1: prevents you from having to make a more difficult decision 240 00:10:24,200 --> 00:10:26,400 Speaker 1: when you're in the heat of the moment and you 241 00:10:26,720 --> 00:10:29,800 Speaker 1: want to hit click, or you're at the store and 242 00:10:29,920 --> 00:10:32,679 Speaker 1: you want to buy some stuff. Well, taking into consideration 243 00:10:32,800 --> 00:10:35,960 Speaker 1: like what makes you spend, why you end up making 244 00:10:36,000 --> 00:10:39,400 Speaker 1: purchases that you regret later on, and doing that hard 245 00:10:39,440 --> 00:10:41,880 Speaker 1: work up front can save you getting to that point 246 00:10:42,200 --> 00:10:45,199 Speaker 1: where you are making crazy purchases that you shouldn't be making. 247 00:10:45,480 --> 00:10:47,880 Speaker 1: And it makes me kind of think of like QVC shoppers, 248 00:10:48,240 --> 00:10:50,880 Speaker 1: and I don't want to lump them all in one category, 249 00:10:51,000 --> 00:10:53,360 Speaker 1: but I've just heard way too many examples of You're 250 00:10:53,400 --> 00:10:56,679 Speaker 1: not all terrible people, right, I'm sure there are fine 251 00:10:56,760 --> 00:10:59,439 Speaker 1: people that shop on QBC. But I've just heard in 252 00:10:59,520 --> 00:11:03,160 Speaker 1: particular of older people that live alone, they watch a 253 00:11:03,200 --> 00:11:05,120 Speaker 1: lot of QVC and they end up buying a lot 254 00:11:05,160 --> 00:11:07,200 Speaker 1: of things with money that they don't have. And I 255 00:11:07,200 --> 00:11:09,079 Speaker 1: think if we can even just take stock of kind 256 00:11:09,080 --> 00:11:13,480 Speaker 1: of those emotional reasons potentially that cause us to feel 257 00:11:13,480 --> 00:11:16,440 Speaker 1: a certain way, or that trigger a mood for spending 258 00:11:16,920 --> 00:11:19,480 Speaker 1: or a desire to satisfy ourselves in a way, I 259 00:11:19,520 --> 00:11:22,760 Speaker 1: think those are the kind of steps necessary to take 260 00:11:23,120 --> 00:11:26,199 Speaker 1: in order to make sure that we become mindful spenders. Yeah. Man, 261 00:11:26,280 --> 00:11:28,640 Speaker 1: you know a simple example I'm thinking of is when 262 00:11:28,640 --> 00:11:30,959 Speaker 1: you go to the grocery store and you're hungry. Folks 263 00:11:30,960 --> 00:11:33,199 Speaker 1: tend to make decisions based on how they feel in 264 00:11:33,240 --> 00:11:35,440 Speaker 1: the moment about what they're purchasing. Well, it's not that 265 00:11:35,480 --> 00:11:37,920 Speaker 1: difficult to make the decision ahead of time to to 266 00:11:38,240 --> 00:11:39,880 Speaker 1: go to the grocery store and make sure you have 267 00:11:39,960 --> 00:11:42,240 Speaker 1: something already in your stomach, because if you don't judge me, 268 00:11:42,280 --> 00:11:44,680 Speaker 1: I needed those four packs of bacon. Okay, I did 269 00:11:44,800 --> 00:11:47,680 Speaker 1: I need it. But again, that's just a simple step. 270 00:11:47,760 --> 00:11:50,600 Speaker 1: It's it's something a parameter that you set there for yourself, 271 00:11:50,640 --> 00:11:53,120 Speaker 1: and it's like, Okay, I don't go to the grocery 272 00:11:53,120 --> 00:11:56,480 Speaker 1: store at eleven thirty on a Saturday, because by the 273 00:11:56,480 --> 00:11:58,360 Speaker 1: time you get there, it's like twelve and by the 274 00:11:58,360 --> 00:12:00,679 Speaker 1: time you're you know, in a certain aisle, twell thirty 275 00:12:00,679 --> 00:12:04,319 Speaker 1: and I start getting hungry at yeah, exactly. So it's 276 00:12:04,320 --> 00:12:06,120 Speaker 1: it's good to set rules like that and have those 277 00:12:06,120 --> 00:12:09,439 Speaker 1: in place. Yeah, it's also important to ask yourself, who 278 00:12:09,520 --> 00:12:12,600 Speaker 1: are you making purchases for? Are you making purchases because 279 00:12:12,720 --> 00:12:14,920 Speaker 1: other people around you are are doing something, are living 280 00:12:14,920 --> 00:12:17,080 Speaker 1: in a certain way. I think it's easy for us, 281 00:12:17,200 --> 00:12:20,440 Speaker 1: especially in an age of Instagram and photos in front 282 00:12:20,440 --> 00:12:22,760 Speaker 1: of us all the time, seeing what other people are doing, 283 00:12:22,840 --> 00:12:25,760 Speaker 1: what they're taking in, how great their lives are. Because 284 00:12:25,760 --> 00:12:28,800 Speaker 1: they're showcasing just the best parts of what's actually happening. 285 00:12:29,320 --> 00:12:32,920 Speaker 1: It's easy for us to justify purchases because, uh, we 286 00:12:33,000 --> 00:12:35,319 Speaker 1: see how other people are living their lives, and you 287 00:12:35,360 --> 00:12:37,320 Speaker 1: have to ask yourself, how has that worked out for 288 00:12:37,360 --> 00:12:39,480 Speaker 1: you in the past. Has that led to not having 289 00:12:39,520 --> 00:12:42,640 Speaker 1: any money in the bank in your emergency account when 290 00:12:42,840 --> 00:12:46,040 Speaker 1: an actual need arises because you are spending most of 291 00:12:46,080 --> 00:12:49,280 Speaker 1: what comes in asking those questions what, why, and who 292 00:12:49,559 --> 00:12:53,000 Speaker 1: are just really helpful in formulating good ground rules for 293 00:12:53,160 --> 00:12:55,760 Speaker 1: mindful spending in your life. Yeah, Joel, and quickly, you know, 294 00:12:55,840 --> 00:12:58,560 Speaker 1: like talking about the who makes me think of high schoolers. Right. 295 00:12:58,640 --> 00:13:01,160 Speaker 1: I thought you're gonna say the band, the Who, the Doors, 296 00:13:01,240 --> 00:13:03,520 Speaker 1: the Who, the Beatles. Those are bands we don't know 297 00:13:03,559 --> 00:13:06,439 Speaker 1: anything about. We're too young, It's true. But I think 298 00:13:06,480 --> 00:13:08,640 Speaker 1: about like high schoolers. Do you think of, Oh, I'm 299 00:13:08,640 --> 00:13:11,200 Speaker 1: doing this because like of social pressures and stuff like, oh, 300 00:13:11,240 --> 00:13:12,760 Speaker 1: I need to get this kind of phone because you 301 00:13:12,800 --> 00:13:14,800 Speaker 1: know the quote unquote cool kids, that's the phone that 302 00:13:14,840 --> 00:13:17,719 Speaker 1: they're getting, or play hacky sack. But I think this 303 00:13:17,800 --> 00:13:21,360 Speaker 1: also applies to adults, like even college big purchases, not 304 00:13:21,480 --> 00:13:23,240 Speaker 1: just like small little stuff. But I think a lot 305 00:13:23,240 --> 00:13:26,319 Speaker 1: of times there's social pressures and a desire to conform 306 00:13:26,400 --> 00:13:28,800 Speaker 1: to like what other people are doing. That can range 307 00:13:28,880 --> 00:13:31,640 Speaker 1: from students, so you know, with like little gadgets all 308 00:13:31,679 --> 00:13:34,080 Speaker 1: the way to like big expenses like adults. He might 309 00:13:34,120 --> 00:13:37,240 Speaker 1: even feel pressured to go on a fancy trip that 310 00:13:37,320 --> 00:13:39,240 Speaker 1: maybe you can't even afford. Like you said, there might 311 00:13:39,240 --> 00:13:41,360 Speaker 1: be a real emergency in your life. I just won't 312 00:13:41,400 --> 00:13:44,440 Speaker 1: feel like it's worth noting that it can span all 313 00:13:44,520 --> 00:13:47,000 Speaker 1: ages and it's not just something that like, oh, that's 314 00:13:47,040 --> 00:13:49,040 Speaker 1: just something that kids feel. Yeah, you can see that 315 00:13:49,080 --> 00:13:51,679 Speaker 1: in kids more clearly because we're we're adults and we 316 00:13:51,720 --> 00:13:53,840 Speaker 1: can kind of see the dumb things that kids do. 317 00:13:53,960 --> 00:13:56,480 Speaker 1: But it's something that we all deal with, and often 318 00:13:56,520 --> 00:13:58,320 Speaker 1: I think it's it is worth it to ask ourselves 319 00:13:58,320 --> 00:14:01,200 Speaker 1: that very question and to sort of question our motives. 320 00:14:01,480 --> 00:14:03,280 Speaker 1: I think it's so true. I think there are these 321 00:14:03,280 --> 00:14:05,240 Speaker 1: things that we do, these spending choices that we make 322 00:14:05,280 --> 00:14:08,280 Speaker 1: that become baseline level of decisions in our lives that 323 00:14:08,320 --> 00:14:11,439 Speaker 1: we don't even realize we can act because they feel 324 00:14:11,440 --> 00:14:13,480 Speaker 1: so normal and everyone around us is doing it right, 325 00:14:13,559 --> 00:14:16,160 Speaker 1: and we don't even question them because they do feel 326 00:14:16,160 --> 00:14:19,440 Speaker 1: like this thing that isn't even possible to eliminate because 327 00:14:19,440 --> 00:14:21,600 Speaker 1: it's just so pervasive in the world that we see 328 00:14:21,600 --> 00:14:23,560 Speaker 1: around us. Sort Of on the flip side of that 329 00:14:23,680 --> 00:14:26,920 Speaker 1: is being intentional with our spending right, and that feels amazing, 330 00:14:26,920 --> 00:14:29,800 Speaker 1: Like that feels really good. Mindful spending and making a 331 00:14:29,880 --> 00:14:33,520 Speaker 1: solid purchase is a great feeling. However, impulse spending, that's 332 00:14:33,560 --> 00:14:35,120 Speaker 1: what makes you feel like you have a hangover. We've 333 00:14:35,120 --> 00:14:37,280 Speaker 1: got an episode right where we talk about the holiday 334 00:14:37,280 --> 00:14:40,440 Speaker 1: shopping hangover. Oftentimes, what a company is that spending as 335 00:14:40,480 --> 00:14:43,320 Speaker 1: well are large amounts of debt. And when you don't 336 00:14:43,360 --> 00:14:45,800 Speaker 1: feel that you're in control of your spending and you're 337 00:14:45,840 --> 00:14:48,360 Speaker 1: just being you know, pulled along by your credit cards, 338 00:14:48,480 --> 00:14:50,400 Speaker 1: well that's when you wake up the next morning and 339 00:14:50,440 --> 00:14:53,280 Speaker 1: regret those financial decisions that you've made, no doubt, buddy. 340 00:14:53,280 --> 00:14:55,040 Speaker 1: All Right, So we're gonna get to some thoughts on 341 00:14:55,040 --> 00:14:58,720 Speaker 1: how to plug those spending leaks, and also an interesting 342 00:14:58,760 --> 00:15:01,640 Speaker 1: discussion on sales and how they affect our spending. We'll 343 00:15:01,680 --> 00:15:13,040 Speaker 1: do that right after the break, Okay, Jill. Before we 344 00:15:13,080 --> 00:15:16,200 Speaker 1: talk about, you know, those spending leaks, we need to 345 00:15:16,200 --> 00:15:19,080 Speaker 1: talk about the big spending, the big ticket items, and 346 00:15:19,240 --> 00:15:23,640 Speaker 1: the bulk of our spending goes to three main categories, housing, food, transportation. 347 00:15:24,240 --> 00:15:27,640 Speaker 1: We've done whole episodes on these, and you know, it 348 00:15:27,720 --> 00:15:31,120 Speaker 1: really may not feel like wasteful spending because you truly 349 00:15:31,400 --> 00:15:33,400 Speaker 1: need a place to live, you need you know, you 350 00:15:33,440 --> 00:15:35,280 Speaker 1: need to eat food, and you need to get from 351 00:15:35,360 --> 00:15:37,800 Speaker 1: one place to another. These are bigger topics that have 352 00:15:37,920 --> 00:15:41,040 Speaker 1: earned their own episode. But don't leave those stones unturned, 353 00:15:41,360 --> 00:15:43,320 Speaker 1: in particular, when we get to the rules that we're 354 00:15:43,320 --> 00:15:45,920 Speaker 1: gonna sort of implement here at the end of the episode. 355 00:15:46,280 --> 00:15:48,440 Speaker 1: You know, I like a good rule, Matthew. And it's 356 00:15:48,440 --> 00:15:51,480 Speaker 1: not that those bigger categories aren't important, but I feel 357 00:15:51,520 --> 00:15:54,640 Speaker 1: like the small things is is where the leaks kind 358 00:15:54,680 --> 00:15:57,360 Speaker 1: of arise in our lives. Those spending leaks add up. 359 00:15:57,760 --> 00:15:59,600 Speaker 1: Matt There's this thing that my mom used to always 360 00:15:59,600 --> 00:16:02,560 Speaker 1: tell me. I can't remember exactly what it was now, 361 00:16:02,840 --> 00:16:06,360 Speaker 1: it was basically essentially that all these small things add up, right, 362 00:16:06,400 --> 00:16:09,520 Speaker 1: and they're all really important. And I kind of was like, whatever, Mom, 363 00:16:10,640 --> 00:16:12,760 Speaker 1: I hear you, but I don't care. When I was 364 00:16:12,800 --> 00:16:14,560 Speaker 1: a kid. I think it's the lyrics from All the 365 00:16:14,640 --> 00:16:17,480 Speaker 1: Small Things song, Remember that one? Oh yeah, Yeah, that's 366 00:16:17,960 --> 00:16:20,720 Speaker 1: that's probably what that's gotta be. Yeah, that's why she 367 00:16:20,760 --> 00:16:24,240 Speaker 1: was referring to. But yeah, I think she was right. 368 00:16:24,320 --> 00:16:26,000 Speaker 1: All the small things do add up. But that's just 369 00:16:26,040 --> 00:16:28,920 Speaker 1: not how we like to approach our spending. Oftentimes, we 370 00:16:28,960 --> 00:16:31,280 Speaker 1: don't think about the small things nearly as much as 371 00:16:31,320 --> 00:16:32,920 Speaker 1: we should, and I feel like we actually need to 372 00:16:32,960 --> 00:16:36,120 Speaker 1: kind of recapture that belief that a penny saved is 373 00:16:36,120 --> 00:16:38,640 Speaker 1: a penny earned, and that the small stuff does add 374 00:16:38,720 --> 00:16:40,840 Speaker 1: up in more ways than one, right, It adds up 375 00:16:40,840 --> 00:16:42,560 Speaker 1: and how much money is going out of your account 376 00:16:42,560 --> 00:16:45,320 Speaker 1: and also adds up in how much clutter is encompassing 377 00:16:45,360 --> 00:16:48,160 Speaker 1: your house. And our culture can be so frenzied when 378 00:16:48,160 --> 00:16:51,960 Speaker 1: it comes to like shopping for sales fifty off, sixty 379 00:16:52,040 --> 00:16:54,080 Speaker 1: percent off Black Friday, all that kind of stuff. I 380 00:16:54,080 --> 00:16:56,560 Speaker 1: think that's one of the ways in which spending leeks arise, 381 00:16:56,640 --> 00:16:59,200 Speaker 1: don't you think, Matt, Yeah, man, absolutely, you know, just 382 00:16:59,280 --> 00:17:01,720 Speaker 1: the very fact that a sale exists can be a 383 00:17:01,720 --> 00:17:04,520 Speaker 1: trigger for somebody like they hear, oh yeah, they're sixty 384 00:17:04,560 --> 00:17:07,440 Speaker 1: percent off sale, Like that's fantastic. I'm gonna go spend 385 00:17:07,440 --> 00:17:09,840 Speaker 1: money that I wasn't planning on spending to begin with. 386 00:17:09,960 --> 00:17:12,080 Speaker 1: But it's a deal exactly. And I gotta say, man, 387 00:17:12,119 --> 00:17:14,600 Speaker 1: this is what I fell prey to earlier on in 388 00:17:14,640 --> 00:17:17,360 Speaker 1: my life. I was thoughtful with my money, but that 389 00:17:17,440 --> 00:17:19,359 Speaker 1: was the thing that got me, the sales. It was 390 00:17:19,400 --> 00:17:21,520 Speaker 1: the sales. It was like, oh, well, how it will 391 00:17:21,560 --> 00:17:23,760 Speaker 1: never be this price again. I have to make the purchase. 392 00:17:24,000 --> 00:17:26,560 Speaker 1: I have to buy that because because it's cheaper than 393 00:17:26,600 --> 00:17:28,880 Speaker 1: it's ever been before. And you know, the best way 394 00:17:29,119 --> 00:17:33,399 Speaker 1: truly to save off something is by saving of your 395 00:17:33,440 --> 00:17:36,240 Speaker 1: money and not buying that at all. And of sometimes 396 00:17:36,240 --> 00:17:39,880 Speaker 1: those kind of purchases can fall under the category of shopping, right, 397 00:17:39,920 --> 00:17:43,520 Speaker 1: and so like shopping is the act of perusing looking 398 00:17:43,560 --> 00:17:45,560 Speaker 1: for stuff to buy, essentially, and if you happen to 399 00:17:45,600 --> 00:17:48,080 Speaker 1: see a sale, sweet, then you pounce, you know, like 400 00:17:48,119 --> 00:17:50,040 Speaker 1: you see that there's a deal. But what we want 401 00:17:50,040 --> 00:17:53,000 Speaker 1: to do instead is to intentionally seek out a deal 402 00:17:53,400 --> 00:17:56,280 Speaker 1: because you've identified a need or at least a very 403 00:17:56,280 --> 00:17:58,840 Speaker 1: strong want, Like you're not just going through the motions 404 00:17:58,920 --> 00:18:01,240 Speaker 1: of looking to spend money. You know that this is 405 00:18:01,280 --> 00:18:04,800 Speaker 1: something I now need to purchase because I've again identified 406 00:18:04,840 --> 00:18:07,439 Speaker 1: a need or something's broken, and then moving forward with 407 00:18:07,440 --> 00:18:10,520 Speaker 1: that purchase. Like let's take, for instance, matt the mattress 408 00:18:10,560 --> 00:18:12,600 Speaker 1: that we mentioned earlier, right, and I think, you know, 409 00:18:12,600 --> 00:18:14,440 Speaker 1: I'm thirty five years old, I'm kind of ready for 410 00:18:14,520 --> 00:18:17,000 Speaker 1: a non hand me down mattress, and I'm starting to 411 00:18:17,119 --> 00:18:19,480 Speaker 1: do the research, and so you know what if a 412 00:18:19,560 --> 00:18:22,000 Speaker 1: sale pops up after I kind of know what I'm 413 00:18:22,000 --> 00:18:24,240 Speaker 1: looking for, well, I'm more than happy to buy it 414 00:18:24,240 --> 00:18:27,520 Speaker 1: at a discount, but I'm not ready just to pounce 415 00:18:27,760 --> 00:18:30,920 Speaker 1: on on a mattress before I know what I'm getting into, 416 00:18:31,280 --> 00:18:33,000 Speaker 1: and so I think, yeah, that's kind of a helpful way, 417 00:18:33,040 --> 00:18:35,960 Speaker 1: at least for me to frame it is. You know what, 418 00:18:36,040 --> 00:18:38,800 Speaker 1: this is already on my radar, and that's very different 419 00:18:38,800 --> 00:18:42,399 Speaker 1: than shopping for something based on the sheer price alone, 420 00:18:42,680 --> 00:18:45,520 Speaker 1: with it not having been on your radar previously. Joel, 421 00:18:45,520 --> 00:18:47,359 Speaker 1: And you know, a way that you can sort of 422 00:18:47,359 --> 00:18:49,840 Speaker 1: remove sales from your mind, a way to get it 423 00:18:49,880 --> 00:18:52,880 Speaker 1: off of your radar altogether, is to remove yourself from 424 00:18:52,920 --> 00:18:55,919 Speaker 1: the different sale newsletters. Once you make a purchase from 425 00:18:55,920 --> 00:18:58,320 Speaker 1: an online retailer, they have your email address, so they're 426 00:18:58,359 --> 00:19:02,240 Speaker 1: basically going to constantly bum arg with marketing emails. You know, 427 00:19:02,280 --> 00:19:05,199 Speaker 1: those sale algorithms are really good. They're always showing me 428 00:19:05,240 --> 00:19:07,679 Speaker 1: exactly what i'd want. Yeah, man, it's so true. And 429 00:19:07,720 --> 00:19:10,080 Speaker 1: it's the thing that I didn't realize that I quote 430 00:19:10,119 --> 00:19:12,639 Speaker 1: unquote needed until I actually saw it, and then it's like, 431 00:19:12,880 --> 00:19:15,080 Speaker 1: I totally have to have that in my life. And 432 00:19:15,280 --> 00:19:18,159 Speaker 1: it's really hard to be a mindful spender when that 433 00:19:18,280 --> 00:19:21,880 Speaker 1: stuff is being shoved in front of your face constantly, constantly, Right, 434 00:19:22,040 --> 00:19:24,399 Speaker 1: it's so much easier to shut it down, like we 435 00:19:24,440 --> 00:19:28,760 Speaker 1: talked about earlier, if you remove it from your life altogether. Right, So, 436 00:19:28,800 --> 00:19:31,040 Speaker 1: if you're not even getting that email into your inbox, 437 00:19:31,200 --> 00:19:34,159 Speaker 1: it's much easier to curb that spending. But once it 438 00:19:34,240 --> 00:19:36,520 Speaker 1: hits your inbox, once you open it, once you're perusing 439 00:19:36,840 --> 00:19:39,200 Speaker 1: that sale, once you're looking through for stuff that does 440 00:19:39,240 --> 00:19:41,880 Speaker 1: look cool or interesting or whatever it may be, that's 441 00:19:41,960 --> 00:19:45,000 Speaker 1: when it becomes really hard to shut it down. In progress. Yeah, 442 00:19:45,080 --> 00:19:47,080 Speaker 1: as you're looking at it, you think, man, they totally 443 00:19:47,119 --> 00:19:50,520 Speaker 1: know me. That's totally my aesthetic. And now lately do 444 00:19:50,720 --> 00:19:53,960 Speaker 1: Instagram ads. They are so stink and creepy because they 445 00:19:54,000 --> 00:19:56,440 Speaker 1: know things that I have only thought. I swear there's 446 00:19:56,480 --> 00:19:58,479 Speaker 1: things that I have not even said out loud. I 447 00:19:58,520 --> 00:20:01,359 Speaker 1: only think them. And I think we've talked about this before. 448 00:20:01,480 --> 00:20:03,080 Speaker 1: But then the next day, guess what shows up in 449 00:20:03,119 --> 00:20:05,480 Speaker 1: my Instagram feed and add for the very thing that 450 00:20:05,560 --> 00:20:07,920 Speaker 1: was only in my brain the day before. It's weird. 451 00:20:08,040 --> 00:20:10,600 Speaker 1: It's weird, man, it's weird. But Gmail makes it really 452 00:20:10,680 --> 00:20:12,840 Speaker 1: easy to unsubscribe from these emails, you know, like they've 453 00:20:12,840 --> 00:20:15,280 Speaker 1: got who it's from, and then right next to it 454 00:20:15,280 --> 00:20:18,320 Speaker 1: it says unsubscribe and so on. Those newsletters. If you 455 00:20:18,320 --> 00:20:21,119 Speaker 1: want to manually make sure you're removing yourself from those, 456 00:20:21,359 --> 00:20:23,240 Speaker 1: that's an option. But if you're looking for a one 457 00:20:23,280 --> 00:20:26,439 Speaker 1: stop shop, also check out unrolled dot me. This is 458 00:20:26,480 --> 00:20:29,440 Speaker 1: a site where basically you give it access to your 459 00:20:29,560 --> 00:20:32,480 Speaker 1: email and there's a little bit of a privacy concerned 460 00:20:32,600 --> 00:20:35,320 Speaker 1: They say they're only concerned with the commercial like retail 461 00:20:35,640 --> 00:20:38,239 Speaker 1: style emails that you're receiving, but fact is they have 462 00:20:38,280 --> 00:20:40,320 Speaker 1: access to all of your emails. So if you're, you know, 463 00:20:40,320 --> 00:20:43,000 Speaker 1: more concerned about privacy, that may not be for you, 464 00:20:43,240 --> 00:20:45,640 Speaker 1: but that can be a very easy one stop shop 465 00:20:45,640 --> 00:20:47,800 Speaker 1: where you can go in there and just unsubscribe from 466 00:20:47,840 --> 00:20:50,240 Speaker 1: all of them all at once. Yeah, that's pretty slick. 467 00:20:50,520 --> 00:20:52,919 Speaker 1: Another thing we should think about is kind of what 468 00:20:53,160 --> 00:20:56,600 Speaker 1: spending we have that's automated, So money that's coming out 469 00:20:56,600 --> 00:20:59,399 Speaker 1: of your accounts every month that you've forgotten about you 470 00:20:59,400 --> 00:21:02,080 Speaker 1: have to stop up flow, and that takes a little 471 00:21:02,119 --> 00:21:06,560 Speaker 1: bit of intentionality and being proactive. For example, maybe you're 472 00:21:06,960 --> 00:21:09,400 Speaker 1: still paying a cable bill. I don't know. I bet 473 00:21:09,440 --> 00:21:11,680 Speaker 1: you that some of our listeners, Matt are still signed 474 00:21:11,720 --> 00:21:13,719 Speaker 1: up for cable and they're paying more than they know, 475 00:21:13,800 --> 00:21:15,640 Speaker 1: or they don't even know what they're paying every month. 476 00:21:15,920 --> 00:21:18,399 Speaker 1: Maybe you have an Amazon Prime subscription and you're just 477 00:21:18,440 --> 00:21:20,960 Speaker 1: not getting enough use out of it. Maybe you're paying 478 00:21:21,000 --> 00:21:23,520 Speaker 1: for multiple streaming accounts and really you only use one. 479 00:21:23,960 --> 00:21:26,359 Speaker 1: Maybe you have monthly bank fees that you're not sure 480 00:21:26,440 --> 00:21:29,000 Speaker 1: even what you're paying, or an annual credit card fee 481 00:21:29,200 --> 00:21:30,959 Speaker 1: and you don't even need that credit card. I mean, 482 00:21:30,960 --> 00:21:33,320 Speaker 1: there are all these sorts of things that are coming 483 00:21:33,320 --> 00:21:35,679 Speaker 1: out of your account every month or every year. They 484 00:21:35,720 --> 00:21:38,080 Speaker 1: are all sorts of things that you're spending money on 485 00:21:38,400 --> 00:21:41,160 Speaker 1: that get automated, and it's just really easy to let 486 00:21:41,160 --> 00:21:43,679 Speaker 1: those things go and not question them and not start 487 00:21:43,760 --> 00:21:46,919 Speaker 1: making proactive choices to change where your money goes. And 488 00:21:46,960 --> 00:21:49,880 Speaker 1: so it's really important to take a look at the 489 00:21:50,040 --> 00:21:53,240 Speaker 1: spending choices that you have automated and seeing which services 490 00:21:53,520 --> 00:21:56,280 Speaker 1: or subscriptions that you can opt out of. Yeah, Jill, 491 00:21:56,320 --> 00:21:58,160 Speaker 1: you know, this makes me think of a whole sort 492 00:21:58,200 --> 00:22:00,679 Speaker 1: of other category of spending that at I like to 493 00:22:00,680 --> 00:22:04,439 Speaker 1: call either wishful spending or optimistic spending, which is like 494 00:22:04,480 --> 00:22:07,040 Speaker 1: the gym membership. It's spending that you do and you 495 00:22:07,080 --> 00:22:08,600 Speaker 1: know that I'm not you know, like I'm not going 496 00:22:08,600 --> 00:22:10,280 Speaker 1: to the gym all the time right now. But if 497 00:22:10,320 --> 00:22:12,960 Speaker 1: I keep that expense there, I think it will change 498 00:22:13,000 --> 00:22:16,240 Speaker 1: my behavior, it'll force me to go exactly, But in reality, 499 00:22:16,320 --> 00:22:18,800 Speaker 1: you never end up changing your behavior. And because it's 500 00:22:18,840 --> 00:22:21,719 Speaker 1: not this massive expense, you kind of keep it around 501 00:22:21,920 --> 00:22:24,000 Speaker 1: and it kind of becomes this pet and you get 502 00:22:24,000 --> 00:22:26,280 Speaker 1: to three or four those and before you know, you're 503 00:22:26,280 --> 00:22:29,080 Speaker 1: spending hundreds of dollars every single month on something that 504 00:22:29,080 --> 00:22:32,040 Speaker 1: you're not taking advantage of, whether it be museums or 505 00:22:32,080 --> 00:22:34,520 Speaker 1: an audible subscription, just you know, something like that where 506 00:22:34,560 --> 00:22:35,919 Speaker 1: you think, well, I'm going to do more of this 507 00:22:36,000 --> 00:22:38,639 Speaker 1: in the future, but in reality, like you don't have 508 00:22:38,640 --> 00:22:40,000 Speaker 1: the time for it now. Like if you don't have 509 00:22:40,000 --> 00:22:41,880 Speaker 1: the time for it now, like will you really make 510 00:22:41,960 --> 00:22:44,000 Speaker 1: time for it in the future. Maybe you will, but 511 00:22:44,040 --> 00:22:46,320 Speaker 1: you know, it's definitely something worth considering. So Mats advice 512 00:22:46,440 --> 00:22:50,080 Speaker 1: be a little more pessimistic. I like it, Matt pestimistic spending, 513 00:22:50,800 --> 00:22:53,000 Speaker 1: all right, So we'll get into some specific ways to 514 00:22:53,160 --> 00:22:56,080 Speaker 1: zero in on that spending that gets automated every month 515 00:22:56,280 --> 00:22:58,119 Speaker 1: and how you can fight that spending in your life, 516 00:22:58,280 --> 00:23:00,160 Speaker 1: as well as some specific rules that we think will 517 00:23:00,200 --> 00:23:03,639 Speaker 1: be really helpful as you attempt to lower the amount 518 00:23:03,680 --> 00:23:05,920 Speaker 1: of money that you're spending so you can keep more 519 00:23:05,920 --> 00:23:07,840 Speaker 1: of it for yourself. We'll get to that right after 520 00:23:07,840 --> 00:23:19,480 Speaker 1: the break. Al Right, be'st buddy Automated spending right now, 521 00:23:19,480 --> 00:23:22,639 Speaker 1: we're gonna talk about ways to dial that back. In 522 00:23:22,760 --> 00:23:24,520 Speaker 1: order to do that, you need to make sure that 523 00:23:24,560 --> 00:23:27,680 Speaker 1: you are tracking your expenses. Uh. There's a site called 524 00:23:27,720 --> 00:23:31,480 Speaker 1: ask trim that purports to help you find wasteful spending. 525 00:23:31,760 --> 00:23:33,600 Speaker 1: That's another one of these sites that you have to 526 00:23:33,640 --> 00:23:36,280 Speaker 1: give access to your information and they take a big 527 00:23:36,320 --> 00:23:39,280 Speaker 1: cut when they do find you savings. Yeah, it's not awful. 528 00:23:39,440 --> 00:23:42,280 Speaker 1: It's not ideal, Yeah, exactly. You know, man, we prefer 529 00:23:42,480 --> 00:23:46,159 Speaker 1: just a more manual approach, which is by budgeting and 530 00:23:46,160 --> 00:23:49,520 Speaker 1: tracking your expenses. You need a budget or win nab 531 00:23:49,840 --> 00:23:52,280 Speaker 1: for short, is a helpful way for you to see 532 00:23:52,320 --> 00:23:55,720 Speaker 1: all your spending in one place. Pretty much, any budget 533 00:23:55,840 --> 00:23:59,119 Speaker 1: or expense tracker or software will help you to prioritize, 534 00:23:59,200 --> 00:24:01,640 Speaker 1: to save, and to budget. We've talked with some listeners 535 00:24:01,760 --> 00:24:04,520 Speaker 1: who've used dollar Bird. We've talked about them before, Joe 536 00:24:04,560 --> 00:24:07,360 Speaker 1: on the on the podcast. It's that app that organizes 537 00:24:07,400 --> 00:24:09,960 Speaker 1: your expenses by category, but you have to manually enter 538 00:24:10,000 --> 00:24:12,160 Speaker 1: it in. But I know that that's something that you 539 00:24:12,359 --> 00:24:15,000 Speaker 1: sort of take this sort of guilty joy in doing, 540 00:24:15,040 --> 00:24:18,359 Speaker 1: like manually paying your bills, manually entering things in so 541 00:24:18,400 --> 00:24:20,919 Speaker 1: that you feel the pain. You know, it's so easy 542 00:24:21,000 --> 00:24:23,119 Speaker 1: to make purchases these days, and when you have to 543 00:24:23,160 --> 00:24:25,199 Speaker 1: actually document it and rub your own face in your 544 00:24:25,200 --> 00:24:26,879 Speaker 1: own mess a little bit, it kind of causes you 545 00:24:26,920 --> 00:24:28,919 Speaker 1: to think twice about it versus it just being this 546 00:24:28,960 --> 00:24:31,720 Speaker 1: one and done thing that you never have to revisit. Yeah, 547 00:24:31,800 --> 00:24:34,840 Speaker 1: you know instantly enough. On a recent episode where we 548 00:24:34,840 --> 00:24:38,200 Speaker 1: talked about cutting your monthly energy bills, I talked about 549 00:24:38,320 --> 00:24:41,919 Speaker 1: how I manually set my thermostat and I don't have 550 00:24:41,960 --> 00:24:44,040 Speaker 1: one of these nest learning thermostats like you have, which 551 00:24:44,080 --> 00:24:47,280 Speaker 1: which are really cool, but I actually like to go 552 00:24:47,440 --> 00:24:50,360 Speaker 1: and move it up myself. And and some days during 553 00:24:50,359 --> 00:24:52,160 Speaker 1: the summer, right were trying to not let the air 554 00:24:52,280 --> 00:24:54,399 Speaker 1: run at all during the day. We'll bump it up 555 00:24:54,400 --> 00:24:56,240 Speaker 1: to eighty two or eighty three even, that's what we've 556 00:24:56,240 --> 00:24:57,959 Speaker 1: been doing lately. It's crazy. We'll just let it get 557 00:24:57,960 --> 00:24:59,560 Speaker 1: super hot of there because the doors are open, the 558 00:24:59,600 --> 00:25:01,200 Speaker 1: kids are running in and out, and we just don't 559 00:25:01,200 --> 00:25:02,720 Speaker 1: want the A C. Running while the doors are open, 560 00:25:02,720 --> 00:25:05,040 Speaker 1: like they just feel so wasteful. And you know, when 561 00:25:05,080 --> 00:25:06,600 Speaker 1: we sit down at dinner, we turn on the A 562 00:25:06,720 --> 00:25:09,520 Speaker 1: C boom it's running. We feel cool while you know, 563 00:25:10,000 --> 00:25:11,760 Speaker 1: while we're eating, and we let it run, you know, 564 00:25:11,760 --> 00:25:14,399 Speaker 1: while we're sleeping too. And so that physical act of 565 00:25:14,440 --> 00:25:16,280 Speaker 1: me doing it. We had a listener right in and say, 566 00:25:16,359 --> 00:25:19,000 Speaker 1: that's so dumb, dude, just you should automate some more things. 567 00:25:19,240 --> 00:25:21,920 Speaker 1: And that's probably true, Like I should probably be a 568 00:25:21,960 --> 00:25:24,320 Speaker 1: little bit better at automating some things in my life. 569 00:25:24,680 --> 00:25:27,320 Speaker 1: But there's something at least for me and my personality 570 00:25:27,320 --> 00:25:32,280 Speaker 1: type about viscerally seeing it and being engaged with the thermostat, 571 00:25:32,359 --> 00:25:34,560 Speaker 1: being engaged with a bill that comes in the door, 572 00:25:35,000 --> 00:25:38,000 Speaker 1: and having to face it, having to look at it. It. 573 00:25:38,040 --> 00:25:41,760 Speaker 1: Actually it changes my behavior and for me, that's really important. 574 00:25:41,800 --> 00:25:44,240 Speaker 1: That is part of the way that I'm able to 575 00:25:44,400 --> 00:25:48,280 Speaker 1: spend and live a little more mindfully is by tactfully 576 00:25:48,320 --> 00:25:51,520 Speaker 1: and actively engaging with the things around me, whether it's 577 00:25:51,520 --> 00:25:55,479 Speaker 1: my thermostat or my electricity bill. Yeah, man, that's so good. 578 00:25:55,520 --> 00:25:57,520 Speaker 1: I think it's good that you've identified something that works 579 00:25:57,560 --> 00:25:59,560 Speaker 1: for you. Uh, And I think that's so important is 580 00:25:59,560 --> 00:26:01,600 Speaker 1: to folk us and do the things that work for 581 00:26:01,600 --> 00:26:03,880 Speaker 1: you as an individual. But you know, when it comes 582 00:26:03,880 --> 00:26:05,840 Speaker 1: to tracking your expenses as well, like you don't have 583 00:26:05,880 --> 00:26:08,119 Speaker 1: to use a fancy app. It can just be an 584 00:26:08,160 --> 00:26:10,959 Speaker 1: Excel file or Google sheets like something where you are 585 00:26:11,000 --> 00:26:13,080 Speaker 1: just tracking those expenses. It can even be this thing 586 00:26:13,080 --> 00:26:15,440 Speaker 1: called pencil and paper. I have ever heard of that. 587 00:26:15,440 --> 00:26:17,359 Speaker 1: That's what my friend Mindy does. She's literally got this 588 00:26:17,440 --> 00:26:20,920 Speaker 1: early book on her kitchen counter and when she walks 589 00:26:20,920 --> 00:26:23,320 Speaker 1: into the house, she breaks out a receipt and writes 590 00:26:23,359 --> 00:26:25,520 Speaker 1: down what she got it down real quick. And so 591 00:26:25,600 --> 00:26:27,399 Speaker 1: it's just it's pen and paper. Man, it's old school. 592 00:26:27,480 --> 00:26:29,680 Speaker 1: I like that too. But yeah, like the whole idea 593 00:26:29,720 --> 00:26:32,280 Speaker 1: behind tracking your expenses here is to basically give yourself 594 00:26:32,359 --> 00:26:34,640 Speaker 1: a snapshot, because if you don't know where your money 595 00:26:34,720 --> 00:26:36,720 Speaker 1: is going, then you can't make those adjustments and you 596 00:26:36,760 --> 00:26:40,359 Speaker 1: can't make those cuts to that automated spending. All right, 597 00:26:40,400 --> 00:26:42,439 Speaker 1: So let's get to kind of maybe some of the 598 00:26:42,560 --> 00:26:46,680 Speaker 1: rules that you can implement before you spend money that 599 00:26:46,720 --> 00:26:50,040 Speaker 1: will help you decide whether it's a wise purchase or not. 600 00:26:50,520 --> 00:26:52,840 Speaker 1: And so the first thing you need to think about 601 00:26:53,040 --> 00:26:55,440 Speaker 1: is some of those points that we actually mentioned at 602 00:26:55,440 --> 00:26:57,879 Speaker 1: the beginning of the episode, which are things like what 603 00:26:58,000 --> 00:27:00,479 Speaker 1: am I buying? What I buy it again? Why am 604 00:27:00,520 --> 00:27:02,800 Speaker 1: I spending this money? And who am I buying this for? 605 00:27:03,359 --> 00:27:05,800 Speaker 1: Am I making this purchase just to impress the people 606 00:27:05,800 --> 00:27:08,520 Speaker 1: around me or just to live like the people around me? 607 00:27:08,840 --> 00:27:12,359 Speaker 1: Running a purchase through those filters? It's just really helpful 608 00:27:12,720 --> 00:27:14,439 Speaker 1: you have a quick example kind of going back to 609 00:27:14,440 --> 00:27:16,000 Speaker 1: the why am I spending this money? You know, we 610 00:27:16,040 --> 00:27:18,679 Speaker 1: talked about identifying those triggers. I thought of when Kate 611 00:27:18,760 --> 00:27:20,280 Speaker 1: and I we went on a road trip. We drove 612 00:27:20,359 --> 00:27:23,240 Speaker 1: up to New York City, and we knew that we 613 00:27:23,440 --> 00:27:25,560 Speaker 1: along the way, we're gonna be attempted to stop at 614 00:27:25,800 --> 00:27:27,720 Speaker 1: tons and tons of fast food because it's a pretty 615 00:27:27,760 --> 00:27:30,400 Speaker 1: big road trip, and we identified that ahead of time. 616 00:27:30,440 --> 00:27:32,480 Speaker 1: So instead of trying to fight that in the moment, 617 00:27:32,800 --> 00:27:35,080 Speaker 1: guess what we had there in the car Snacks exactly. 618 00:27:35,080 --> 00:27:38,200 Speaker 1: We had tons of snacks. We had had not pistachios 619 00:27:38,200 --> 00:27:39,880 Speaker 1: that would have been good. We had almonds, we had 620 00:27:39,920 --> 00:27:42,160 Speaker 1: some fruit, but we had a hole off of bread 621 00:27:42,440 --> 00:27:44,800 Speaker 1: and peanut butter and jelly, and Kate sat there and 622 00:27:44,880 --> 00:27:47,399 Speaker 1: made us sandwiches and we just drove right past the 623 00:27:47,480 --> 00:27:49,720 Speaker 1: Chick fil A's, and there's other restaurants that we wanted 624 00:27:49,720 --> 00:27:51,680 Speaker 1: to stop at because we were going to New York 625 00:27:52,080 --> 00:27:53,840 Speaker 1: where we had already planned out some of the nicer, 626 00:27:54,000 --> 00:27:56,840 Speaker 1: expensive restaurants that we really wanted to spend our money 627 00:27:56,840 --> 00:27:59,080 Speaker 1: on while we're on that trip. So that's just a 628 00:27:59,119 --> 00:28:00,919 Speaker 1: quick example of how we were able to think just 629 00:28:01,000 --> 00:28:03,880 Speaker 1: a little bit ahead and avoid spending money on these, 630 00:28:03,880 --> 00:28:07,240 Speaker 1: you know, mediocre to average fast food restaurants and instead 631 00:28:07,640 --> 00:28:09,720 Speaker 1: kind of keeping our eyes set on the prize, which 632 00:28:09,800 --> 00:28:12,600 Speaker 1: was amazing Ramen that we had mapped out all across 633 00:28:12,600 --> 00:28:15,359 Speaker 1: the city. Well, I like that. The only thing I 634 00:28:15,440 --> 00:28:17,959 Speaker 1: dislike about what you just said is Chick fil A 635 00:28:18,040 --> 00:28:21,639 Speaker 1: and mediocre, Like that's not accurate. But but for the 636 00:28:21,640 --> 00:28:24,440 Speaker 1: most fans of Chick fil A, it's delicious, diet, stink, 637 00:28:24,440 --> 00:28:26,919 Speaker 1: and chicken. I do agree with you, though. Another thing 638 00:28:26,960 --> 00:28:29,040 Speaker 1: that can be really helpful before you decide to buy 639 00:28:29,080 --> 00:28:32,119 Speaker 1: something is to organize the things that you already have. 640 00:28:32,720 --> 00:28:34,639 Speaker 1: You know, there's no need to buy something if you 641 00:28:34,760 --> 00:28:37,760 Speaker 1: already have it, and we tend to have more enjoyment 642 00:28:37,760 --> 00:28:39,400 Speaker 1: of the things that we have if we know exactly 643 00:28:39,440 --> 00:28:41,640 Speaker 1: where they are. So Emily and I Matt the other 644 00:28:41,720 --> 00:28:44,880 Speaker 1: day were reorganizing our launch room area that's where all 645 00:28:44,920 --> 00:28:47,800 Speaker 1: my tools are and kind of some of our miscellaneous items, 646 00:28:48,120 --> 00:28:51,520 Speaker 1: and it turned out we had so much packing tape 647 00:28:51,560 --> 00:28:54,160 Speaker 1: it wasn't even funny. And that was why that's such 648 00:28:54,160 --> 00:28:55,600 Speaker 1: a random thing. I feel like to have it. It 649 00:28:55,720 --> 00:28:57,880 Speaker 1: is it is. I don't I don't know why there's 650 00:28:57,920 --> 00:29:00,480 Speaker 1: so much packing tape, but I guess we we were 651 00:29:00,520 --> 00:29:04,000 Speaker 1: out of packing tape, and because it wasn't well organized, 652 00:29:04,240 --> 00:29:06,400 Speaker 1: we purchased some more. And and it turns out we 653 00:29:06,440 --> 00:29:08,560 Speaker 1: had some already and so we just have more than 654 00:29:08,600 --> 00:29:13,120 Speaker 1: we need for probably the next twenty years um. And 655 00:29:13,200 --> 00:29:15,680 Speaker 1: so it was really helpful to get organized so that 656 00:29:15,720 --> 00:29:17,840 Speaker 1: we know where it is. It's easy to find, it's 657 00:29:17,880 --> 00:29:21,360 Speaker 1: easy to see, and it just makes us feel better 658 00:29:21,400 --> 00:29:23,479 Speaker 1: about our space and what we have, and it just 659 00:29:23,560 --> 00:29:27,080 Speaker 1: makes everything a little more usable and user friendly. And so, yeah, 660 00:29:27,240 --> 00:29:30,600 Speaker 1: anyway that you can organize the things that you currently have, 661 00:29:30,680 --> 00:29:34,160 Speaker 1: whether it's your wardrobe or your laundry room, that's gonna 662 00:29:34,200 --> 00:29:38,080 Speaker 1: be helpful in curbing unnecessary spending in your life. Yeah, 663 00:29:38,120 --> 00:29:42,280 Speaker 1: I can get behind like garnering more enjoyment out of 664 00:29:42,360 --> 00:29:45,000 Speaker 1: using something when you know exactly where to find it 665 00:29:45,080 --> 00:29:47,120 Speaker 1: and where to put it back when you're done with it. 666 00:29:47,400 --> 00:29:49,720 Speaker 1: This makes me think of my grandfather, my grandpa up 667 00:29:49,720 --> 00:29:53,760 Speaker 1: in Illinois keys like a hardcore superorganized kind of person. 668 00:29:53,960 --> 00:29:56,080 Speaker 1: I think this is where some of my organizational roots, 669 00:29:56,200 --> 00:29:59,160 Speaker 1: uh kind of stem from. I remember even seeing this 670 00:29:59,160 --> 00:30:01,680 Speaker 1: as a little kid. But he's got this massive pegboard 671 00:30:01,760 --> 00:30:03,800 Speaker 1: with all the tools on it. And not only do 672 00:30:03,880 --> 00:30:06,320 Speaker 1: all the tools have their own specific spot where they go, 673 00:30:06,720 --> 00:30:10,000 Speaker 1: but each tool has been outlined on the pegboard. That way, 674 00:30:10,040 --> 00:30:13,000 Speaker 1: when you use the tool, you take it down and 675 00:30:13,040 --> 00:30:15,280 Speaker 1: you're you're working and you think, oh no, like where 676 00:30:15,280 --> 00:30:17,800 Speaker 1: does this go? Like if you can't spots exactly where 677 00:30:17,840 --> 00:30:20,000 Speaker 1: it goes, or maybe you've pulled a few tools down 678 00:30:20,280 --> 00:30:22,800 Speaker 1: and you can't remember exactly where it goes, well you 679 00:30:22,840 --> 00:30:25,240 Speaker 1: can see exactly where it goes because there's an outline 680 00:30:25,280 --> 00:30:27,960 Speaker 1: of that tool drawn on the pegboard with a sharpie. 681 00:30:28,120 --> 00:30:30,160 Speaker 1: It's a little tip if you are into d I 682 00:30:30,320 --> 00:30:32,400 Speaker 1: y ing your fixes at home and you've got a 683 00:30:32,440 --> 00:30:34,680 Speaker 1: bunch of tools laying around, look into a peg board. 684 00:30:34,680 --> 00:30:36,280 Speaker 1: I've got one of those actually down to my cross 685 00:30:36,280 --> 00:30:39,719 Speaker 1: space as well. Baller move matts Grandpa. But they're not 686 00:30:39,760 --> 00:30:42,240 Speaker 1: outlined though, so yeah, I gotta step it up. Yeah, 687 00:30:42,280 --> 00:30:44,840 Speaker 1: you do need to step it up. Another filter that 688 00:30:44,920 --> 00:30:47,880 Speaker 1: we need to run, I think everything through in order 689 00:30:47,920 --> 00:30:51,200 Speaker 1: to spend mindfully is to think about the secondary cost 690 00:30:51,400 --> 00:30:54,080 Speaker 1: of the items that we buy. Will it take up 691 00:30:54,160 --> 00:30:57,280 Speaker 1: extra space? Will it take up extra mental energy having 692 00:30:57,320 --> 00:31:00,520 Speaker 1: that purchase or having that recurring expense. Will that thing 693 00:31:00,520 --> 00:31:02,760 Speaker 1: that we buy or spend our money on actually end 694 00:31:02,840 --> 00:31:06,200 Speaker 1: up wasting our time? And I think those are interesting 695 00:31:06,280 --> 00:31:08,680 Speaker 1: questions to ask ourselves when we make a purchase, because 696 00:31:08,680 --> 00:31:10,760 Speaker 1: we don't think about that impact that it's going to 697 00:31:10,880 --> 00:31:13,560 Speaker 1: make after the fact, and maybe we would make a 698 00:31:13,560 --> 00:31:16,200 Speaker 1: different choice if we did. You have that mental energy towel. 699 00:31:16,280 --> 00:31:18,880 Speaker 1: That makes me think of decision fatigue, which is one 700 00:31:18,880 --> 00:31:21,120 Speaker 1: of the reasons that we love all these so much, 701 00:31:21,200 --> 00:31:22,959 Speaker 1: is because you go in there and guess what, they 702 00:31:23,000 --> 00:31:25,440 Speaker 1: don't have tons of options of all the different items 703 00:31:25,440 --> 00:31:27,880 Speaker 1: that you need. They basically just have one or two options. 704 00:31:27,880 --> 00:31:30,320 Speaker 1: And because of that, it makes it so incredibly easy 705 00:31:30,400 --> 00:31:32,600 Speaker 1: to go in there, get what you need, get out. 706 00:31:32,760 --> 00:31:35,640 Speaker 1: There's almost zero decision fatigue because it's just automatic, like 707 00:31:35,680 --> 00:31:37,760 Speaker 1: you know exactly what you're gonna get and it's not 708 00:31:37,840 --> 00:31:39,400 Speaker 1: something that you have to think about. Yeah, and that's 709 00:31:39,400 --> 00:31:42,280 Speaker 1: why you wear a black turtleneck every day too, right, Yeah, exactly, 710 00:31:42,360 --> 00:31:45,160 Speaker 1: just like the Rock in the eighties. You don't know 711 00:31:45,200 --> 00:31:46,440 Speaker 1: what I'm talking about. Have you seen the picture of 712 00:31:46,440 --> 00:31:48,040 Speaker 1: the Rock with like the black turtleneck and the fanti 713 00:31:48,080 --> 00:31:50,720 Speaker 1: pack like leaning against the stairwell. No, I'll dude, you 714 00:31:50,760 --> 00:31:52,400 Speaker 1: gotta look it up. It's classic. All right, I'll check 715 00:31:52,440 --> 00:31:54,200 Speaker 1: it out. Maybe we'll post that picture in our show. 716 00:31:54,240 --> 00:31:55,840 Speaker 1: I know you're talking about Steve Jobs, and that's like 717 00:31:55,920 --> 00:31:58,880 Speaker 1: that's this thing, right, like the life optimization gurus where 718 00:31:59,040 --> 00:32:01,200 Speaker 1: you just basically have the same outfit, but like that's 719 00:32:01,200 --> 00:32:03,640 Speaker 1: the whole idea behind that is to minimize the number 720 00:32:03,680 --> 00:32:05,280 Speaker 1: of decisions that you have to make every day so 721 00:32:05,320 --> 00:32:07,240 Speaker 1: that you can focus on the things that you truly 722 00:32:07,240 --> 00:32:10,200 Speaker 1: do when to spend your time and energy on. Yeah, 723 00:32:10,280 --> 00:32:12,880 Speaker 1: and the things that we buy truly do have an 724 00:32:12,920 --> 00:32:16,560 Speaker 1: impact on the mental space that we have, like like 725 00:32:16,800 --> 00:32:20,440 Speaker 1: literally just decluttering kind of that tool laundry room area. 726 00:32:20,840 --> 00:32:23,320 Speaker 1: For us, it's a good breath of fresh air when 727 00:32:23,360 --> 00:32:25,880 Speaker 1: I walk back there. Now, are bikes are easier to 728 00:32:25,920 --> 00:32:27,680 Speaker 1: get to? Yeah? You feel so good getting your bikes 729 00:32:27,680 --> 00:32:29,800 Speaker 1: because you know exactly where they go when they're done, 730 00:32:29,920 --> 00:32:32,880 Speaker 1: exactly to find them. Everything has its place, and you 731 00:32:32,920 --> 00:32:35,640 Speaker 1: know what that organization is kind of a constant thing. 732 00:32:35,760 --> 00:32:37,000 Speaker 1: I feel like it's hard to keep it in that 733 00:32:37,040 --> 00:32:40,120 Speaker 1: pristine state for for a long long time, but every 734 00:32:40,160 --> 00:32:42,240 Speaker 1: time we do it, it feels really good and and 735 00:32:42,280 --> 00:32:44,640 Speaker 1: I think it actually really does kind of make us 736 00:32:44,680 --> 00:32:47,320 Speaker 1: more mindful about what we spend. Another quick rule for 737 00:32:47,360 --> 00:32:50,080 Speaker 1: mindful spinning jewel is to think about our purchases in 738 00:32:50,360 --> 00:32:53,280 Speaker 1: life hours. We would encourage you to equate the cost 739 00:32:53,320 --> 00:32:54,920 Speaker 1: of a good something that you want to purchase to 740 00:32:55,040 --> 00:32:56,959 Speaker 1: the number of hours that you'd have to work in 741 00:32:57,080 --> 00:32:59,920 Speaker 1: order to buy that gadget in order to buy that gizmo, 742 00:33:00,440 --> 00:33:02,840 Speaker 1: and then to ask yourself before you purchase it, is 743 00:33:02,840 --> 00:33:04,720 Speaker 1: this something that I would be happy to trade my 744 00:33:04,760 --> 00:33:08,160 Speaker 1: time for? When you can start equating the things that 745 00:33:08,240 --> 00:33:10,480 Speaker 1: you own with the amount of time that you have 746 00:33:10,640 --> 00:33:12,719 Speaker 1: on the earth, which is kind of deep, I know, 747 00:33:12,840 --> 00:33:14,640 Speaker 1: like I'm you know, we're talking about how much time 748 00:33:14,640 --> 00:33:16,720 Speaker 1: that you're gonna live and stuff, but like it's true, 749 00:33:17,000 --> 00:33:18,840 Speaker 1: if you are going to have to spend time to 750 00:33:18,960 --> 00:33:21,480 Speaker 1: earn money to then purchase the things that you want. 751 00:33:21,640 --> 00:33:23,760 Speaker 1: If you can cut out that middleman and equate instead 752 00:33:23,920 --> 00:33:26,600 Speaker 1: that this item costs this much time instead of this 753 00:33:26,720 --> 00:33:28,680 Speaker 1: much money, I think a lot of times that would 754 00:33:28,760 --> 00:33:31,320 Speaker 1: cause us to rethink our purchases. Yeah. I think if 755 00:33:31,360 --> 00:33:33,680 Speaker 1: you're looking at let's say, a new smartphone, and you 756 00:33:33,720 --> 00:33:35,880 Speaker 1: realize that the cost of that new smartphone is going 757 00:33:35,960 --> 00:33:40,120 Speaker 1: to cost you thirty seven hours let's say of work, 758 00:33:40,600 --> 00:33:43,600 Speaker 1: well you might think, again, it's a lot of time man, 759 00:33:43,680 --> 00:33:47,800 Speaker 1: about whether you actually need a new smartphone. Or secondarily, 760 00:33:48,240 --> 00:33:51,440 Speaker 1: if you can get by with a smartphone that costs 761 00:33:51,560 --> 00:33:54,200 Speaker 1: a heck of a lot less money and therefore a 762 00:33:54,240 --> 00:33:57,320 Speaker 1: hey couple lot less of your work hours. So maybe 763 00:33:57,360 --> 00:34:00,240 Speaker 1: you decide to opt for a really nice two dollar 764 00:34:00,320 --> 00:34:04,200 Speaker 1: smartphone instead that only costs you eleven hours of your 765 00:34:04,200 --> 00:34:06,600 Speaker 1: working life. I think setting up the scenario in that 766 00:34:06,680 --> 00:34:09,239 Speaker 1: way helps us realize in a way the value of 767 00:34:09,280 --> 00:34:11,680 Speaker 1: the money that we're spending, because we're recuating it directly 768 00:34:11,719 --> 00:34:13,600 Speaker 1: to what it takes to get that money. So it 769 00:34:13,600 --> 00:34:15,520 Speaker 1: makes a big difference for us if we think about 770 00:34:15,560 --> 00:34:17,759 Speaker 1: it in the proper terms. And the last rule is 771 00:34:17,800 --> 00:34:22,320 Speaker 1: to consider buying, used, or even borrowing something. There is 772 00:34:22,320 --> 00:34:24,239 Speaker 1: a good chance that you could spend a lot less 773 00:34:24,239 --> 00:34:27,000 Speaker 1: money buying used or even spending no money at all 774 00:34:27,200 --> 00:34:30,680 Speaker 1: by borrowing something. Oftentimes, it is just so easy for 775 00:34:30,760 --> 00:34:32,920 Speaker 1: us to hop on the computer, hop on Amazon or 776 00:34:32,960 --> 00:34:35,440 Speaker 1: wherever it is that you buy things, find exactly what 777 00:34:35,480 --> 00:34:38,120 Speaker 1: you're looking for, and just click that one click purchase button, 778 00:34:38,239 --> 00:34:41,040 Speaker 1: and man, that's gonna show up in a day or two. Instead, 779 00:34:41,280 --> 00:34:43,279 Speaker 1: just think about how much money you could save and 780 00:34:43,320 --> 00:34:45,600 Speaker 1: how many relationships I would say that you would be 781 00:34:45,600 --> 00:34:48,560 Speaker 1: able to deepen by asking a friend or a neighbor 782 00:34:48,560 --> 00:34:50,839 Speaker 1: if there's something that you can borrow that they might have. Yeah, 783 00:34:50,840 --> 00:34:53,680 Speaker 1: it's the path of least resistance, but it's not the 784 00:34:53,719 --> 00:34:56,840 Speaker 1: best way for your dollars to flow, because more of 785 00:34:56,880 --> 00:34:58,359 Speaker 1: them are going to flow out of your pocket if 786 00:34:58,440 --> 00:35:01,800 Speaker 1: you spend in that way. And our friend Katie Woke Stanley, 787 00:35:01,840 --> 00:35:03,680 Speaker 1: who came on the show I don't know, a couple 788 00:35:03,719 --> 00:35:07,160 Speaker 1: of months ago. Her slogan, her motto is use it up, 789 00:35:07,320 --> 00:35:10,319 Speaker 1: wear it out, make it do or do without. And 790 00:35:10,360 --> 00:35:12,640 Speaker 1: I think that is a helpful way for us to 791 00:35:12,680 --> 00:35:15,120 Speaker 1: think about our spending so that we can be mindful 792 00:35:15,160 --> 00:35:18,040 Speaker 1: spenders as opposed to people who buy or whatever gets 793 00:35:18,160 --> 00:35:20,879 Speaker 1: put in front of our faces by marketers, or advertisers 794 00:35:20,960 --> 00:35:23,880 Speaker 1: or even our friends and neighbors. We need to realize 795 00:35:24,000 --> 00:35:28,200 Speaker 1: that mindless consumption does turn into excessive consumption. And so 796 00:35:28,239 --> 00:35:30,799 Speaker 1: if we can be mindful, well, we can save more 797 00:35:30,800 --> 00:35:33,479 Speaker 1: of those hard earned dollars. We can think more about 798 00:35:33,520 --> 00:35:36,480 Speaker 1: our future as opposed to just the here and now. Yeah, Joel, 799 00:35:36,520 --> 00:35:40,040 Speaker 1: in that episode with Katie was episode number seventy two, 800 00:35:40,320 --> 00:35:42,560 Speaker 1: and that kind of dovetails nicely with this episode. So 801 00:35:42,640 --> 00:35:44,239 Speaker 1: if you haven't listened to that one, check it out 802 00:35:44,239 --> 00:35:47,280 Speaker 1: because we talk a lot about rampant consumerism and consumption. 803 00:35:47,560 --> 00:35:51,280 Speaker 1: So Joel, speaking of consumption, we just consumption that beer 804 00:35:51,480 --> 00:35:53,799 Speaker 1: and uh, I would love to hear your thoughts on it, man. Yeah, 805 00:35:53,840 --> 00:35:56,000 Speaker 1: we we certainly did. Today on the show, we drank 806 00:35:56,080 --> 00:36:00,160 Speaker 1: National Cherry Blossom Festival by Old Ox Brewery, given us 807 00:36:00,160 --> 00:36:02,640 Speaker 1: by our friend Andrew. Thanks Andrew. And this was really 808 00:36:02,640 --> 00:36:05,799 Speaker 1: good man. This beer has cherry juice in it and 809 00:36:05,840 --> 00:36:09,080 Speaker 1: also hybiscus. I feel like that hybiscuits, that kind of 810 00:36:09,239 --> 00:36:12,719 Speaker 1: floral notes actually hit the hardest in this and and 811 00:36:12,719 --> 00:36:14,640 Speaker 1: then there is a touch of that cherry juice and 812 00:36:14,640 --> 00:36:18,480 Speaker 1: they balanced nicely. This is technically a sayson. It has 813 00:36:18,520 --> 00:36:21,840 Speaker 1: that Farmhouse says on quality to it, but with the 814 00:36:21,920 --> 00:36:24,600 Speaker 1: cherry juice in the hybiscuits flour like the fruit and 815 00:36:24,640 --> 00:36:27,600 Speaker 1: the floral, it really is an interesting mix. And I 816 00:36:27,640 --> 00:36:30,600 Speaker 1: thought this beer was was really tasty. Yeah, to me, man, 817 00:36:30,640 --> 00:36:33,640 Speaker 1: it was totally fruity and it drank like a fruity triple. 818 00:36:33,719 --> 00:36:35,359 Speaker 1: There are a lot of Belgian beer flavors going on, 819 00:36:35,520 --> 00:36:37,520 Speaker 1: and yeah, I kept thinking like, this tastes a lot 820 00:36:37,560 --> 00:36:40,719 Speaker 1: like a triple but with cherry juice or it kind 821 00:36:40,719 --> 00:36:42,920 Speaker 1: of reminded me of like that cane fruit metally with 822 00:36:43,000 --> 00:36:45,080 Speaker 1: like the little macerated cherry that kind of thrown in 823 00:36:45,120 --> 00:36:46,239 Speaker 1: there as well. I can see that, you know what 824 00:36:46,239 --> 00:36:49,319 Speaker 1: I'm saying, So imagine like a Belgian triple plus some 825 00:36:49,400 --> 00:36:52,359 Speaker 1: of that doll canned fruit mixed cup kind of mixed 826 00:36:52,400 --> 00:36:54,920 Speaker 1: together with a little bit more cherry. Which kind of 827 00:36:54,920 --> 00:36:56,919 Speaker 1: sounds a little negative, But I really enjoyed this beer. 828 00:36:57,160 --> 00:36:59,799 Speaker 1: That's not what we normally have, but really interesting and 829 00:37:00,120 --> 00:37:03,120 Speaker 1: quite enjoyable. Yeah, that was a fun one. All right, Joel, 830 00:37:03,160 --> 00:37:05,279 Speaker 1: We're not gonna bounce back and forth with our final 831 00:37:05,320 --> 00:37:07,400 Speaker 1: thoughts on this episode, but do you have any some 832 00:37:07,480 --> 00:37:10,839 Speaker 1: parting wisdoms, some parting words for us. Crap, you're gonna 833 00:37:10,840 --> 00:37:12,759 Speaker 1: do that to me? Okay, I want to put the 834 00:37:12,760 --> 00:37:15,480 Speaker 1: pressure on you. All Right, here we go. Well, I 835 00:37:15,520 --> 00:37:19,439 Speaker 1: think ultimately when we spend more mindfully, it feels good. 836 00:37:19,800 --> 00:37:24,680 Speaker 1: It actually feels better than impulse spending. But impulse spending 837 00:37:24,840 --> 00:37:27,960 Speaker 1: is what we're all prone to do because we're reacting 838 00:37:28,320 --> 00:37:30,239 Speaker 1: to what we see in the world around us. We're 839 00:37:30,280 --> 00:37:33,439 Speaker 1: reacting to the clutter in our own lives. And so yeah, 840 00:37:33,480 --> 00:37:35,239 Speaker 1: hopefully some of these rules that we laid out can 841 00:37:35,239 --> 00:37:38,480 Speaker 1: help people make more mindful purchases as opposed to the 842 00:37:38,560 --> 00:37:41,439 Speaker 1: expedient one. I mean, that's what I hope for myself too, 843 00:37:41,480 --> 00:37:44,760 Speaker 1: because I know my tendencies, uh to to buy something 844 00:37:44,840 --> 00:37:47,680 Speaker 1: just because it's on sale, and I need this reminder 845 00:37:47,719 --> 00:37:50,680 Speaker 1: just as much as anybody else. Nice you nailed at buddy. 846 00:37:51,239 --> 00:37:54,759 Speaker 1: Thanks man, that's gonna be it for this episode. You 847 00:37:54,800 --> 00:37:56,480 Speaker 1: can find our show notes up at how It's a 848 00:37:56,520 --> 00:37:58,640 Speaker 1: Money dot com. Check them out. Yeah, and if you 849 00:37:58,719 --> 00:38:00,920 Speaker 1: like this episode, and if you're joined the podcast, you 850 00:38:00,920 --> 00:38:04,120 Speaker 1: know we would appreciate a review from you on Apple Podcasts. 851 00:38:04,200 --> 00:38:06,040 Speaker 1: It means a lot. It helps other people figure out 852 00:38:06,080 --> 00:38:10,240 Speaker 1: what this show is all about. So Matt, until next time, Buddy, 853 00:38:11,080 --> 00:38:14,920 Speaker 1: best friends out, best friends out. Best friends out, best 854 00:38:14,920 --> 00:38:35,120 Speaker 1: friends out sure right, or stealing? We highly recommend stealing things. 855 00:38:35,840 --> 00:38:36,960 Speaker 1: Uh just kidding,