1 00:00:00,080 --> 00:00:02,480 Speaker 1: Welcome to How the Money. I'm Joel and I in 2 00:00:02,600 --> 00:00:05,560 Speaker 1: that today we're discussing when the price is wrong, d 3 00:00:05,680 --> 00:00:08,840 Speaker 1: I y healthcare and being forced to take out a loan. 4 00:00:27,960 --> 00:00:30,200 Speaker 1: That's right, Joel. This is our Friday Flights and we 5 00:00:30,200 --> 00:00:32,159 Speaker 1: are going to cover a bunch of different stories that 6 00:00:32,200 --> 00:00:34,199 Speaker 1: we came across this week. We're gonna talk about how 7 00:00:34,240 --> 00:00:38,120 Speaker 1: these stories are relevant to our personal finances. And before 8 00:00:38,120 --> 00:00:40,479 Speaker 1: we get to our stories, real quick, how have you 9 00:00:40,520 --> 00:00:42,800 Speaker 1: been doing when it comes to selling stuff? Have you 10 00:00:42,840 --> 00:00:45,319 Speaker 1: been doing it? Okay? So well, let's just set this up. 11 00:00:45,360 --> 00:00:47,680 Speaker 1: We we had a no spend challenge that we set 12 00:00:47,720 --> 00:00:49,760 Speaker 1: up for people when we did our Money Challenges episode 13 00:00:49,760 --> 00:00:52,639 Speaker 1: earlier in January, and we even created like a PDF 14 00:00:52,680 --> 00:00:55,880 Speaker 1: that we emailed out to everyone. We had multiple different 15 00:00:55,880 --> 00:00:57,960 Speaker 1: money challenges that people could participate in. You and I 16 00:00:58,040 --> 00:01:00,920 Speaker 1: are both doing the Sell your Stuff challenge. Sell your 17 00:01:00,960 --> 00:01:03,080 Speaker 1: Stuff so we're trying to sell fifty two items over 18 00:01:03,120 --> 00:01:05,160 Speaker 1: the course of the year to not only make some 19 00:01:05,200 --> 00:01:07,240 Speaker 1: money but de clutter. Are you on pace? I'm not. 20 00:01:08,640 --> 00:01:12,960 Speaker 1: I've already fallen off the horse. A little bit. Part 21 00:01:12,959 --> 00:01:16,039 Speaker 1: of that is because we we've been moving back into 22 00:01:16,080 --> 00:01:17,840 Speaker 1: our house. There's been a ton of stup associated with that, 23 00:01:17,959 --> 00:01:19,520 Speaker 1: so I am behind. But I have sold a pair 24 00:01:19,560 --> 00:01:21,319 Speaker 1: of shoes on eBay that I'm not needing to get 25 00:01:21,400 --> 00:01:24,959 Speaker 1: rid of. They were nice shoes that like getting like 26 00:01:25,000 --> 00:01:27,800 Speaker 1: top dollar, didn't quite fit. Well, okay, wait, how did 27 00:01:27,840 --> 00:01:30,679 Speaker 1: you get these shoes? I had bought the money Bay. Okay, 28 00:01:31,319 --> 00:01:33,720 Speaker 1: they didn't fit right, So I'm like reselling them? Are 29 00:01:33,720 --> 00:01:36,600 Speaker 1: you taking like better pictures? And no, I'm not, I'm not. 30 00:01:37,040 --> 00:01:38,960 Speaker 1: I'm okay on the listening. How in the world do 31 00:01:39,000 --> 00:01:42,360 Speaker 1: you buy use shoes? So I've purchased shoes on eBay before, 32 00:01:42,520 --> 00:01:45,520 Speaker 1: where it was basically the exact shoe that I already had, 33 00:01:45,560 --> 00:01:47,280 Speaker 1: and I wanted a newer version of them. Dude, I 34 00:01:47,319 --> 00:01:49,680 Speaker 1: thought I would. I have new Balances, that's like almost 35 00:01:49,720 --> 00:01:52,280 Speaker 1: all I exclusively wears, like new Balances, and Chuck Taylor's right, 36 00:01:52,320 --> 00:01:54,760 Speaker 1: and they didn't fit. I wear size twelve and the 37 00:01:54,800 --> 00:01:56,240 Speaker 1: other ones and these were twelve. They didn't fit. They 38 00:01:56,240 --> 00:01:58,080 Speaker 1: were too big, weird, So I guess I need eleven 39 00:01:58,120 --> 00:02:00,920 Speaker 1: and a half and in this particular version, you're shrinking. 40 00:02:00,960 --> 00:02:04,440 Speaker 1: I guess maybe. So I haven't actually sold anything yet 41 00:02:04,480 --> 00:02:06,040 Speaker 1: on eBay, which is funny because last year, I did 42 00:02:06,040 --> 00:02:08,920 Speaker 1: sell a bunch of stuff. But Facebook marketplace, that has 43 00:02:08,960 --> 00:02:11,480 Speaker 1: been my platform of choice, and I've been selling you know, 44 00:02:11,840 --> 00:02:13,679 Speaker 1: like okay, and I'm pretty sure we're not gonna have 45 00:02:13,720 --> 00:02:16,480 Speaker 1: any more kids, so we're selling a bunch of baby stuff. 46 00:02:16,600 --> 00:02:19,079 Speaker 1: We got rid of a crib. The Bob's you know 47 00:02:19,120 --> 00:02:22,959 Speaker 1: bob strollers. Those are expensive sold that for like thirty bucks, 48 00:02:23,880 --> 00:02:27,000 Speaker 1: not much, but we uh we actually purchased it used 49 00:02:27,080 --> 00:02:31,440 Speaker 1: and so and used it for oh seven years. Yeah. Yeah, 50 00:02:31,639 --> 00:02:33,160 Speaker 1: So the fact that we're able to get any money 51 00:02:33,200 --> 00:02:35,880 Speaker 1: for it is pretty telling. I guess that the quality 52 00:02:35,919 --> 00:02:37,880 Speaker 1: of that product. It's a it's a good stroller. And 53 00:02:37,960 --> 00:02:41,600 Speaker 1: I sold a backpack, like a hiking backpack. Baby Carrier 54 00:02:41,919 --> 00:02:44,160 Speaker 1: sold one of those literally a couple of days ago 55 00:02:44,240 --> 00:02:46,880 Speaker 1: for sixty bucks. And to Monroal, I'm actually gonna sell 56 00:02:47,320 --> 00:02:50,280 Speaker 1: a baby bike seat that they attaches to the bike 57 00:02:50,320 --> 00:02:53,160 Speaker 1: because Westy, he's too big, hen't on that thing. I 58 00:02:53,200 --> 00:02:54,639 Speaker 1: just took mine off the bike through I gotta list 59 00:02:54,639 --> 00:02:56,880 Speaker 1: that as well. So dude, they're they're both like two 60 00:02:56,919 --> 00:02:58,400 Speaker 1: and a half now, so they can like sit up 61 00:02:58,400 --> 00:03:00,519 Speaker 1: on their own. Yeah. Well, I mean this is just 62 00:03:00,600 --> 00:03:02,520 Speaker 1: a good reminder to anybody who signed up for this challenge. 63 00:03:02,800 --> 00:03:05,840 Speaker 1: It's a good reminder to me. Now that we're in spring, 64 00:03:05,840 --> 00:03:07,840 Speaker 1: I'm gonna do some more spring cleaning and want to 65 00:03:07,840 --> 00:03:10,239 Speaker 1: to sell some more things I've got lined around my house. 66 00:03:10,320 --> 00:03:12,720 Speaker 1: But I think this, Yeah, if you have signed up 67 00:03:12,720 --> 00:03:15,240 Speaker 1: for this challenge, if you've printed out the pdf, if 68 00:03:15,240 --> 00:03:16,720 Speaker 1: you've kind of listed out some of those things, how 69 00:03:16,720 --> 00:03:18,679 Speaker 1: are you doing. It's it's time to check in on 70 00:03:18,800 --> 00:03:21,400 Speaker 1: those money challenges, and so we hope you're doing well. 71 00:03:21,600 --> 00:03:23,519 Speaker 1: We hope you're making money if you if you sign 72 00:03:23,600 --> 00:03:25,320 Speaker 1: up for the No Spend Challenge, we hope you were 73 00:03:25,360 --> 00:03:27,600 Speaker 1: able to commit to a whole month of not spending 74 00:03:27,600 --> 00:03:33,160 Speaker 1: money on anything other than just the basics to the cities. So, uh, Matt, 75 00:03:33,200 --> 00:03:35,760 Speaker 1: let's move on to lest get to the Friday flight 76 00:03:36,440 --> 00:03:38,360 Speaker 1: stories that we found interesting this week and how they 77 00:03:38,400 --> 00:03:42,720 Speaker 1: pertain to people's personal finances. Let's get global for a second. 78 00:03:42,800 --> 00:03:45,600 Speaker 1: Let's zoom out and talk about Ukraine, because we should. 79 00:03:45,640 --> 00:03:48,720 Speaker 1: It's kind of all that anybody's talking about right now, understandably, 80 00:03:48,720 --> 00:03:50,040 Speaker 1: so I feel like with the war going on, it's 81 00:03:50,080 --> 00:03:52,160 Speaker 1: sort of made this week like the longest week ever. 82 00:03:52,320 --> 00:03:55,240 Speaker 1: Like literally it was Monday and I thought it was Wednesday, 83 00:03:55,560 --> 00:03:58,280 Speaker 1: like earlier this week. When when you're keeping up with that, 84 00:03:58,440 --> 00:04:01,160 Speaker 1: I feel like it kind of stretches out times. And 85 00:04:01,320 --> 00:04:03,839 Speaker 1: it's just gut wrenching to read the reports of what's 86 00:04:03,880 --> 00:04:06,560 Speaker 1: happening over there, and you know, it's it's also heartening, 87 00:04:06,600 --> 00:04:09,120 Speaker 1: I would say, to see the resolve that the people 88 00:04:09,120 --> 00:04:12,520 Speaker 1: of Ukraine have in the midst of this invasion. And um, 89 00:04:12,560 --> 00:04:15,720 Speaker 1: obviously people turn elsewhere for reporting on world events, how 90 00:04:15,720 --> 00:04:18,280 Speaker 1: the money is not where they go to get updates 91 00:04:18,320 --> 00:04:22,680 Speaker 1: on delated happenings, um, But there are personal finance ramifications 92 00:04:22,880 --> 00:04:26,160 Speaker 1: from a global conflict like this, and so um. Yeah, 93 00:04:26,240 --> 00:04:30,040 Speaker 1: inflation is picking up in certain sectors, in particular oil 94 00:04:30,160 --> 00:04:32,800 Speaker 1: and natural gas and wheat. They're all getting more expensive 95 00:04:33,080 --> 00:04:36,000 Speaker 1: and that could influence bread prices. Um in the near future. 96 00:04:36,160 --> 00:04:37,960 Speaker 1: They could go up, and filling up your tank is 97 00:04:38,160 --> 00:04:41,320 Speaker 1: getting crazy expensive. It's happening as we speak. And it's 98 00:04:41,320 --> 00:04:44,240 Speaker 1: also it's just impossible to predict how long or how 99 00:04:44,480 --> 00:04:47,760 Speaker 1: severe these ripple effects are gonna last. And so yeah, 100 00:04:47,800 --> 00:04:50,359 Speaker 1: paying more with the gas pump obviously it pales in 101 00:04:50,400 --> 00:04:53,120 Speaker 1: comparison to what the people of Ukraine are going through 102 00:04:53,360 --> 00:04:55,960 Speaker 1: and what the invasion might mean for the world at 103 00:04:56,040 --> 00:04:58,760 Speaker 1: large in the long run. But yees. Since we're a 104 00:04:58,760 --> 00:05:01,640 Speaker 1: personal finance podcast, them money side of things is something 105 00:05:01,720 --> 00:05:04,360 Speaker 1: we've got to talk about, that's right. Yeah. And Jason's 106 00:05:04,360 --> 00:05:07,320 Speaker 1: Wig he's the investment writer over at the Wall Street Journal. 107 00:05:07,320 --> 00:05:09,799 Speaker 1: He wrote an article about how you should think about 108 00:05:09,839 --> 00:05:12,440 Speaker 1: your investments right now, uh and dud one line that 109 00:05:12,480 --> 00:05:15,120 Speaker 1: stuck out to me. He mentioned that you don't have 110 00:05:15,160 --> 00:05:17,760 Speaker 1: to act on your own forecasts about global events. You 111 00:05:17,800 --> 00:05:20,160 Speaker 1: don't even have to make any And I thought that 112 00:05:20,160 --> 00:05:22,240 Speaker 1: that was such a great line. It's just a calming 113 00:05:22,520 --> 00:05:24,840 Speaker 1: thing to be reminded of because I think a lot 114 00:05:24,880 --> 00:05:27,920 Speaker 1: of folks they might believe that a major tumultuous world 115 00:05:27,960 --> 00:05:30,120 Speaker 1: event like this, it should cause you to come up 116 00:05:30,160 --> 00:05:32,160 Speaker 1: with and too, you know, like a prediction, and and 117 00:05:32,240 --> 00:05:34,720 Speaker 1: that you should be acting accordingly. But there's no need 118 00:05:34,760 --> 00:05:37,039 Speaker 1: to do either one of those things. I think, even 119 00:05:37,080 --> 00:05:39,640 Speaker 1: if you're like a world affairs genius, that's a risky 120 00:05:39,720 --> 00:05:42,520 Speaker 1: endeavor to take. Right, Like a lot of experts predicted 121 00:05:42,520 --> 00:05:46,240 Speaker 1: that Russia wouldn't even end up invading Ukraine. Uh. And 122 00:05:46,320 --> 00:05:48,680 Speaker 1: so we want to remind you that it is okay 123 00:05:48,720 --> 00:05:51,320 Speaker 1: to say I don't know, and just keep doing what 124 00:05:51,360 --> 00:05:53,599 Speaker 1: you're doing. That's exactly what we're doing, and it's what 125 00:05:53,640 --> 00:05:57,240 Speaker 1: we would recommend for everybody else out there as well. Um, Jason, 126 00:05:57,279 --> 00:06:00,240 Speaker 1: he talked about too, how now is actually the worst 127 00:06:00,279 --> 00:06:02,880 Speaker 1: time to make changes to your portfolio, right, like, when 128 00:06:03,040 --> 00:06:07,040 Speaker 1: you are making some of these fearful changes. Uh Like, honestly, 129 00:06:07,080 --> 00:06:09,080 Speaker 1: like the best time to make some of these changes 130 00:06:09,080 --> 00:06:11,640 Speaker 1: and maybe go more conservative is when things are going great, 131 00:06:11,640 --> 00:06:13,560 Speaker 1: when you're feeling good about things, when the market is 132 00:06:13,640 --> 00:06:15,800 Speaker 1: you know, riding at all time highs. But that is 133 00:06:15,839 --> 00:06:18,960 Speaker 1: just so counter to how we process information. And you know, 134 00:06:19,000 --> 00:06:21,680 Speaker 1: it's counter to human nature, uh to to want to 135 00:06:21,720 --> 00:06:23,680 Speaker 1: make moves like that when things are going well, And 136 00:06:23,720 --> 00:06:27,600 Speaker 1: it's counter to human nature to resist the desire to 137 00:06:27,680 --> 00:06:30,400 Speaker 1: make changes when things are looking pretty chopping. Yeah, but 138 00:06:30,440 --> 00:06:31,920 Speaker 1: if you want to be a good long term investor, 139 00:06:31,960 --> 00:06:34,080 Speaker 1: that's exactly what you gotta do, exactly, stay the course. 140 00:06:34,279 --> 00:06:37,240 Speaker 1: Let's move on, Matt. Let's talk about consumption. Uh. The Internet, 141 00:06:37,279 --> 00:06:39,520 Speaker 1: for for all it's given us, it seems to be 142 00:06:39,640 --> 00:06:42,640 Speaker 1: distorting how we think about the price we pay for 143 00:06:42,720 --> 00:06:45,600 Speaker 1: everyday household goods. And the New York Times ran an 144 00:06:45,600 --> 00:06:49,680 Speaker 1: interesting article this week about price fluctuations online and how 145 00:06:49,800 --> 00:06:52,600 Speaker 1: just insane they can be. They can change like minute 146 00:06:52,640 --> 00:06:55,720 Speaker 1: to minute, moment to moment, and the writer of this 147 00:06:55,839 --> 00:06:59,000 Speaker 1: article even equated these rapid price shifts to the wild 148 00:06:59,000 --> 00:07:02,680 Speaker 1: price wings onto crypto coins, and we all know how 149 00:07:02,760 --> 00:07:05,760 Speaker 1: rapid those changes can happen. Amazon has actually been the 150 00:07:05,760 --> 00:07:09,760 Speaker 1: main pioneer of dynamic pricing, often changing prices many times 151 00:07:09,760 --> 00:07:12,840 Speaker 1: a day on a whole stewe of products. Well, but 152 00:07:12,920 --> 00:07:15,400 Speaker 1: what's the effect here? Because it doesn't necessarily sound like 153 00:07:15,400 --> 00:07:19,200 Speaker 1: an awful thing, and you know, interestingly enough, we we 154 00:07:19,280 --> 00:07:22,320 Speaker 1: thought that the Internet was going to offer greater transparency 155 00:07:22,360 --> 00:07:24,520 Speaker 1: when it came to pricing, that you could at a 156 00:07:24,520 --> 00:07:27,200 Speaker 1: moment's notice, shop a wide variety of retailers and just 157 00:07:27,320 --> 00:07:30,320 Speaker 1: quickly find the best price. Well, it turns out that 158 00:07:30,360 --> 00:07:33,600 Speaker 1: these wild price wings are actually causing us as consumers, 159 00:07:33,600 --> 00:07:36,160 Speaker 1: as humans to lose sight of what a given item 160 00:07:36,400 --> 00:07:39,960 Speaker 1: should even cost because these prices are changing so quickly. Um, 161 00:07:39,960 --> 00:07:42,520 Speaker 1: and basically most of us who shop mainly on the internet, 162 00:07:42,960 --> 00:07:44,600 Speaker 1: we would fail hard if we were to go on 163 00:07:44,600 --> 00:07:46,720 Speaker 1: like let's say, the game show the prices right, we 164 00:07:46,760 --> 00:07:48,640 Speaker 1: wouldn't know what the prices anymore on some of these 165 00:07:48,640 --> 00:07:52,480 Speaker 1: basic staple items, whether it's a box of cereal, again 166 00:07:52,600 --> 00:07:55,960 Speaker 1: of green beans, or like a roll of toilet paper. 167 00:07:56,560 --> 00:07:58,840 Speaker 1: The new the prices right is just people showing up 168 00:07:58,840 --> 00:08:02,760 Speaker 1: and just bombing because nobody knows the price of anything anymore. 169 00:08:02,760 --> 00:08:04,640 Speaker 1: I'll tell you what my grandma does, because she watches 170 00:08:04,680 --> 00:08:07,200 Speaker 1: the prices right every single day. She studies it. She 171 00:08:07,240 --> 00:08:09,360 Speaker 1: knows what she's into it. So this makes me think 172 00:08:09,360 --> 00:08:11,880 Speaker 1: of a few things. First of all, like you probably 173 00:08:11,920 --> 00:08:16,200 Speaker 1: shouldn't buy your everyday basics online. The grocery store specifically 174 00:08:16,240 --> 00:08:18,520 Speaker 1: all the costco lethle these are all going to be 175 00:08:18,520 --> 00:08:21,320 Speaker 1: the best places for a lot of those things. Secondly, 176 00:08:21,800 --> 00:08:24,680 Speaker 1: shopping on other sites before clicking to buy can help 177 00:08:24,720 --> 00:08:27,080 Speaker 1: you to just gauge whether or not you're paying too 178 00:08:27,120 --> 00:08:29,360 Speaker 1: much or not. You know, I'll admit we readily we 179 00:08:29,400 --> 00:08:33,160 Speaker 1: buy a lot from Amazon. I don't instinctively go to Walmart, 180 00:08:33,200 --> 00:08:35,360 Speaker 1: but recently made a purchase there after doing some price 181 00:08:35,400 --> 00:08:38,600 Speaker 1: comparing UH and was able to score a deal. Thirdly, 182 00:08:39,040 --> 00:08:41,160 Speaker 1: check out this one of the different plugins out there, 183 00:08:41,200 --> 00:08:45,120 Speaker 1: like honey or camel Camel camel, which is always weird 184 00:08:45,160 --> 00:08:49,400 Speaker 1: to say camel time three Camel three x. But check 185 00:08:49,400 --> 00:08:51,200 Speaker 1: out those different apps to help you to see the 186 00:08:51,280 --> 00:08:54,320 Speaker 1: price history for whatever items that you're looking to buy. 187 00:08:54,600 --> 00:08:56,960 Speaker 1: It's gonna be really helpful because dynamic price changes they're 188 00:08:57,000 --> 00:08:59,520 Speaker 1: not going to stop. And as companies a crew more 189 00:08:59,600 --> 00:09:01,600 Speaker 1: data on us, they're likely going to get even more 190 00:09:01,640 --> 00:09:04,160 Speaker 1: tailored to us as individuals. But we still got tools 191 00:09:04,160 --> 00:09:05,959 Speaker 1: at hand to make sure that we don't just fall 192 00:09:06,040 --> 00:09:08,920 Speaker 1: prey to those tactics without a fight. So basically, if 193 00:09:08,960 --> 00:09:10,600 Speaker 1: you are going to shop online, you have the ability 194 00:09:10,640 --> 00:09:13,280 Speaker 1: to move laterally and look to some other retailers to 195 00:09:13,520 --> 00:09:17,559 Speaker 1: score a deal or use those extensions in order to 196 00:09:17,280 --> 00:09:20,040 Speaker 1: to to like look at your shopping like vertically through 197 00:09:20,120 --> 00:09:22,800 Speaker 1: time and you can either see a this is a 198 00:09:22,800 --> 00:09:24,720 Speaker 1: good deal or be if it's not a good deal, 199 00:09:25,040 --> 00:09:27,120 Speaker 1: then you can make the decision to either wait or 200 00:09:27,280 --> 00:09:29,040 Speaker 1: look to a substitute. Yeah, it used to be just 201 00:09:29,080 --> 00:09:31,960 Speaker 1: so much easier to tell whether a price was good 202 00:09:32,040 --> 00:09:34,719 Speaker 1: or not, and you you could trust the M s 203 00:09:35,000 --> 00:09:37,040 Speaker 1: r P a little bit more. You could trust the 204 00:09:37,120 --> 00:09:39,760 Speaker 1: thirty percent off meant thirty percent off, and and these 205 00:09:39,840 --> 00:09:42,240 Speaker 1: days it's like thirty percent off of what and what 206 00:09:42,240 --> 00:09:45,280 Speaker 1: what is the traditional price? And um In that article, 207 00:09:45,320 --> 00:09:49,680 Speaker 1: they talked about how the most recent Amazon toy magazine 208 00:09:49,679 --> 00:09:51,319 Speaker 1: that came out for Christmas last year, there were no 209 00:09:51,400 --> 00:09:54,079 Speaker 1: prices on any of these items, and that's there's a 210 00:09:54,120 --> 00:09:56,199 Speaker 1: reason behind that. We don't they don't want us to 211 00:09:56,240 --> 00:10:00,880 Speaker 1: anchor any sort of price for specificuidem because it's gonna change, um, 212 00:10:00,920 --> 00:10:04,400 Speaker 1: probably multiple times a day, and anytime you go there, 213 00:10:04,520 --> 00:10:06,480 Speaker 1: you have no idea whether it's a good deal or 214 00:10:06,520 --> 00:10:08,440 Speaker 1: not just depends on the day. The catch Joel, It's 215 00:10:08,480 --> 00:10:10,040 Speaker 1: like like you're going to a fish market, where it's 216 00:10:10,080 --> 00:10:12,720 Speaker 1: just like, well, this depends on market conditions. Yes, And 217 00:10:12,800 --> 00:10:15,160 Speaker 1: so what we're seeing now with everything those plug ins 218 00:10:15,160 --> 00:10:16,720 Speaker 1: are at least going to help you see, well, what 219 00:10:16,840 --> 00:10:18,320 Speaker 1: is this the price been for this over the past 220 00:10:18,360 --> 00:10:21,080 Speaker 1: ninety days, so you can you can determine Okay, well, 221 00:10:21,720 --> 00:10:23,800 Speaker 1: all right, this is rooted in reality. This is part 222 00:10:23,840 --> 00:10:25,760 Speaker 1: for the course, or actually now it's it's actually the 223 00:10:25,880 --> 00:10:27,480 Speaker 1: cheapest it's been in the past three months, So I 224 00:10:27,480 --> 00:10:30,520 Speaker 1: should pounce now by like three months worth of whatever 225 00:10:30,600 --> 00:10:32,719 Speaker 1: it is that you're looking to buy. Kind of on 226 00:10:32,800 --> 00:10:35,240 Speaker 1: the note actually quick to avoid subscriptions as well, because 227 00:10:35,240 --> 00:10:38,680 Speaker 1: that's another way that you that were insulated from fluctuating prices. 228 00:10:38,920 --> 00:10:41,080 Speaker 1: High prices as well. If you're not even looking at 229 00:10:41,080 --> 00:10:43,440 Speaker 1: the price, but the thing just shows up on your doorstep. Well, 230 00:10:43,480 --> 00:10:45,559 Speaker 1: let let's keep talking about pricing for a second, because 231 00:10:45,920 --> 00:10:48,480 Speaker 1: the Wall Street Journal actually had an interesting article that 232 00:10:48,559 --> 00:10:50,800 Speaker 1: made me feel like we should discuss whether or not 233 00:10:50,880 --> 00:10:53,520 Speaker 1: inflation is actually worse than the numbers currently show. And 234 00:10:53,559 --> 00:10:55,800 Speaker 1: I know that some people have have said that before, 235 00:10:55,840 --> 00:10:57,320 Speaker 1: and other people have been like, no, of course not. 236 00:10:57,440 --> 00:11:01,360 Speaker 1: It's this is a really accurate number, the CPI, the 237 00:11:01,400 --> 00:11:05,280 Speaker 1: Consumer Price Index. Yeah, we're not talking about like inflation truthers. Yeah, 238 00:11:05,320 --> 00:11:07,760 Speaker 1: what we're talking about something different? Yes, And but we've 239 00:11:07,760 --> 00:11:10,200 Speaker 1: talked about shrink inflation before on the show. How companies 240 00:11:10,240 --> 00:11:13,240 Speaker 1: are are shrinking packaging for a whole lot of consumer items. 241 00:11:13,320 --> 00:11:15,199 Speaker 1: You know, most of your ice cream these days doesn't 242 00:11:15,200 --> 00:11:18,160 Speaker 1: come in half gallon containers anymore. I think Bluebell might 243 00:11:18,200 --> 00:11:21,440 Speaker 1: be like the loan exception. Maybe um. But in addition 244 00:11:21,440 --> 00:11:24,880 Speaker 1: to that tactic just shrinking the amount of a good 245 00:11:24,880 --> 00:11:27,720 Speaker 1: that you're getting, companies are finding all sorts of other 246 00:11:28,040 --> 00:11:30,360 Speaker 1: sneaky ways to charge you more. And of course many 247 00:11:30,360 --> 00:11:33,280 Speaker 1: of these companies are experiencing higher costs themselves. So I'm 248 00:11:33,320 --> 00:11:35,840 Speaker 1: not like demonizing them. It's not my belief that they're 249 00:11:35,840 --> 00:11:38,280 Speaker 1: trying to gouge customers. I think they're just trying to 250 00:11:38,360 --> 00:11:41,120 Speaker 1: kind of um keep up with with all of the 251 00:11:41,160 --> 00:11:43,320 Speaker 1: cost more the insanity happening in the market right now. 252 00:11:43,559 --> 00:11:47,960 Speaker 1: But processing fees, delivery fees, dealer fees, market adjustment fees 253 00:11:48,120 --> 00:11:50,880 Speaker 1: UM and other extraneous charges end up on our final bill, 254 00:11:51,120 --> 00:11:52,960 Speaker 1: even if the initial price of the good or service 255 00:11:53,160 --> 00:11:54,880 Speaker 1: that we're buying has stayed the same. And so I 256 00:11:54,920 --> 00:11:58,839 Speaker 1: do think maybe that the headline number of inflation, well, 257 00:11:58,920 --> 00:12:01,280 Speaker 1: it might actually be worse in many of our lives 258 00:12:01,360 --> 00:12:04,880 Speaker 1: because some of these fees don't necessarily get factored into 259 00:12:05,240 --> 00:12:07,800 Speaker 1: that headline inflation number. That's right, And y'all know that 260 00:12:07,840 --> 00:12:11,080 Speaker 1: we hate fees, and so it seems like we're only 261 00:12:11,120 --> 00:12:13,240 Speaker 1: giving bad news to listeners right now who are trying 262 00:12:13,240 --> 00:12:15,800 Speaker 1: to be savvy shoppers. Uh. And so when you're in 263 00:12:15,800 --> 00:12:18,040 Speaker 1: the grocery store, look at the price by by weight 264 00:12:18,160 --> 00:12:20,920 Speaker 1: or by unit breakdown in an era of shrin inflation, 265 00:12:20,960 --> 00:12:23,400 Speaker 1: that is going to be a helpful piece of information 266 00:12:23,440 --> 00:12:24,920 Speaker 1: for you to look at in order to make an 267 00:12:24,920 --> 00:12:27,720 Speaker 1: informed decision. And if you're presented with a bill that 268 00:12:27,760 --> 00:12:29,600 Speaker 1: has a fee on it that you are unaware of. 269 00:12:30,000 --> 00:12:32,520 Speaker 1: We would actually recommend for you to even push back. 270 00:12:32,600 --> 00:12:35,400 Speaker 1: You can actually really ask about it without causing too 271 00:12:35,480 --> 00:12:37,080 Speaker 1: much of a ruckus. You know, Hey, I shop here 272 00:12:37,080 --> 00:12:39,120 Speaker 1: regularly and the last time I was here, this fee 273 00:12:39,200 --> 00:12:41,000 Speaker 1: didn't exist. Can you just explain it to me? Yeah, 274 00:12:41,000 --> 00:12:43,120 Speaker 1: I can't remember the specific restaurant, but they mentioned how 275 00:12:43,160 --> 00:12:45,040 Speaker 1: they have a fee on there and that if customers 276 00:12:45,080 --> 00:12:47,440 Speaker 1: ask about it and ask it to be removed, that 277 00:12:47,760 --> 00:12:50,800 Speaker 1: they will do it without asking any questions. I found 278 00:12:50,800 --> 00:12:53,000 Speaker 1: that to be really encouraging, so keep that in mind. Uh. 279 00:12:53,000 --> 00:12:54,880 Speaker 1: And of course, if the fees are are too egregious, 280 00:12:54,880 --> 00:12:57,720 Speaker 1: then you know, you can consider taking your business elsewhere. Yeah, 281 00:12:57,760 --> 00:13:01,240 Speaker 1: our local barbecue place, I love it, but they added 282 00:13:02,040 --> 00:13:06,719 Speaker 1: fee to every check. And it's not like you get this, 283 00:13:07,000 --> 00:13:08,600 Speaker 1: you know, you you order at the counter, they do 284 00:13:08,679 --> 00:13:11,120 Speaker 1: bring it out to you, but it is steep, and 285 00:13:11,520 --> 00:13:15,120 Speaker 1: fortunately their barbecue is the best, the best around. We're 286 00:13:15,120 --> 00:13:17,760 Speaker 1: going to continue to pay, yes for the time being, 287 00:13:17,760 --> 00:13:19,560 Speaker 1: but I might go there less than I normal I 288 00:13:19,559 --> 00:13:21,719 Speaker 1: would because of that. And and Matt, I wanted to 289 00:13:21,720 --> 00:13:23,680 Speaker 1: ask you, By the way, speaking of price fluctuations and 290 00:13:23,679 --> 00:13:25,920 Speaker 1: stuff like that. I am actually this weekend going to 291 00:13:25,960 --> 00:13:29,120 Speaker 1: see The Batman in movie theaters. I think I've been 292 00:13:29,160 --> 00:13:31,560 Speaker 1: to one movie since the pandemic started, so I'm not 293 00:13:31,880 --> 00:13:34,160 Speaker 1: much of a movie goer anyway. I'm even less of 294 00:13:34,160 --> 00:13:36,760 Speaker 1: a movie goer. You know. I've been to zero movies 295 00:13:36,800 --> 00:13:39,920 Speaker 1: over the best two years. Okay, well, I there's this 296 00:13:39,960 --> 00:13:41,800 Speaker 1: one movie theater that some in town that some of 297 00:13:41,840 --> 00:13:43,520 Speaker 1: my friends have been telling me about. They say it's 298 00:13:43,520 --> 00:13:45,840 Speaker 1: like phenomenal. So I'm like, all right, well, let's go 299 00:13:45,840 --> 00:13:48,120 Speaker 1: see a blockbusterard movie on the big screen. This is 300 00:13:48,120 --> 00:13:50,760 Speaker 1: like one of those premium places. Get your own seeds, 301 00:13:50,800 --> 00:13:52,959 Speaker 1: like the literally, and they'll bring you a bring you 302 00:13:53,000 --> 00:13:54,920 Speaker 1: a dream. They have a James Beard Award winning chef, 303 00:13:55,600 --> 00:13:57,880 Speaker 1: which is crazy, but I was. I saw some of 304 00:13:57,880 --> 00:14:00,920 Speaker 1: the some of these stories apparently that movie theaters are 305 00:14:00,920 --> 00:14:04,880 Speaker 1: starting to charge more for certain movies, for certain more 306 00:14:04,880 --> 00:14:07,640 Speaker 1: blockbuster style movies, and so, yeah, would you be willing 307 00:14:07,679 --> 00:14:09,520 Speaker 1: to pay or would you be frustrated by the fact 308 00:14:09,520 --> 00:14:11,360 Speaker 1: that the movies might cost a dollar or two more 309 00:14:11,440 --> 00:14:14,079 Speaker 1: per ticket? So from the movie theaters point of view, 310 00:14:14,120 --> 00:14:16,240 Speaker 1: I totally get it right, Like they're counting on these 311 00:14:16,240 --> 00:14:19,480 Speaker 1: different blockbusters to make bank for them. They're counting on 312 00:14:19,680 --> 00:14:22,360 Speaker 1: the sales everything that comes with, you know, a big 313 00:14:22,400 --> 00:14:25,240 Speaker 1: movie like The Batman coming out this weekend, and so 314 00:14:25,320 --> 00:14:26,640 Speaker 1: it's it's kind of like up to them from a 315 00:14:26,640 --> 00:14:29,680 Speaker 1: business perspective, because if you jack up the prices, I'm 316 00:14:29,720 --> 00:14:32,480 Speaker 1: really curious to see if movie oors are going to 317 00:14:32,560 --> 00:14:34,920 Speaker 1: be willing to push back if the sales overall end 318 00:14:35,040 --> 00:14:37,160 Speaker 1: up being maybe lower than they think because of that. 319 00:14:37,520 --> 00:14:39,680 Speaker 1: You know, again, from a business perspective, I get it. 320 00:14:39,760 --> 00:14:42,520 Speaker 1: From a personal, like movie goer perspective, I don't think 321 00:14:42,520 --> 00:14:45,960 Speaker 1: I like it because generally speaking, I feel like it 322 00:14:46,000 --> 00:14:47,760 Speaker 1: just complicates the whole process. And I think when you 323 00:14:47,760 --> 00:14:49,600 Speaker 1: go to see a movie, you want to show up, 324 00:14:49,640 --> 00:14:51,480 Speaker 1: you pay a fee, you know, you buy a ticket, 325 00:14:51,520 --> 00:14:53,360 Speaker 1: and then you just go and see the movie. But 326 00:14:53,480 --> 00:14:56,240 Speaker 1: it's just adding this layer of complication to something that 327 00:14:56,280 --> 00:14:59,240 Speaker 1: I feel like doesn't necessarily need to be complicated, right. 328 00:14:59,240 --> 00:15:01,480 Speaker 1: I get it because you know, let's say it's about 329 00:15:01,560 --> 00:15:04,160 Speaker 1: The Batman at eight thirty, when everybody wants to go 330 00:15:04,160 --> 00:15:06,800 Speaker 1: see it, charge more for that, charge more for that ticket. 331 00:15:06,840 --> 00:15:08,040 Speaker 1: That makes sense. So you know, it's a sort of 332 00:15:08,120 --> 00:15:11,600 Speaker 1: dynamic pricing mantay, Yeah, totally I get it. But at 333 00:15:11,600 --> 00:15:13,440 Speaker 1: the same time and so like I am totally fine 334 00:15:13,480 --> 00:15:16,000 Speaker 1: with it, you know, like let the market decide, basically, 335 00:15:16,000 --> 00:15:19,720 Speaker 1: I'm very willing. But from again, from a personal user standpoint, 336 00:15:20,000 --> 00:15:22,840 Speaker 1: it just it just starts complicating things, right, because then 337 00:15:22,880 --> 00:15:24,880 Speaker 1: you've got certain movies cost more than others. Then you've 338 00:15:24,920 --> 00:15:27,120 Speaker 1: got certain seats, like there are some movie theaters where 339 00:15:27,160 --> 00:15:29,560 Speaker 1: they're charging more for the good seats. Uh, And it 340 00:15:29,640 --> 00:15:31,200 Speaker 1: just adds like like you're going to go see an 341 00:15:31,200 --> 00:15:34,160 Speaker 1: Atlanta United match or something, and so there are all 342 00:15:34,640 --> 00:15:39,400 Speaker 1: of these additional decisions that go into being a savvy consumer. 343 00:15:39,680 --> 00:15:41,640 Speaker 1: It's why it makes it more difficult. It's so much 344 00:15:41,640 --> 00:15:44,120 Speaker 1: more opaque with the dynamic pricing, and it means that 345 00:15:44,120 --> 00:15:45,840 Speaker 1: there's more of an onus on us to do the 346 00:15:45,840 --> 00:15:47,960 Speaker 1: work and to decide whether it's worth it to spend 347 00:15:47,960 --> 00:15:49,680 Speaker 1: our money that one. Just like you know, like we're 348 00:15:49,720 --> 00:15:51,760 Speaker 1: talking about how there there used to be a list 349 00:15:51,760 --> 00:15:53,680 Speaker 1: price or m s RP that you could look at 350 00:15:53,720 --> 00:15:55,200 Speaker 1: and be like, Okay, is this a good deal or not? 351 00:15:55,280 --> 00:15:57,520 Speaker 1: Things have gotten a little more complicated and it takes 352 00:15:57,920 --> 00:16:00,440 Speaker 1: us being savvy consumers, which I'm all full or and 353 00:16:00,440 --> 00:16:01,760 Speaker 1: that's what we're all about here on the show is 354 00:16:01,840 --> 00:16:05,160 Speaker 1: equipping our listeners to not only be great investors and 355 00:16:05,200 --> 00:16:08,520 Speaker 1: great earners, but savvy uh spenders of their money as well. 356 00:16:08,560 --> 00:16:10,920 Speaker 1: Exactly All right, well speak speaking that. Okay, the ludicrous 357 00:16:10,960 --> 00:16:14,920 Speaker 1: headline of the week has something to do with spending 358 00:16:14,960 --> 00:16:16,720 Speaker 1: a whole lot of money and getting pushed into a 359 00:16:16,720 --> 00:16:18,880 Speaker 1: product that you didn't want in the first place. Well, 360 00:16:18,920 --> 00:16:20,880 Speaker 1: we'll get to that and more right after this break. 361 00:16:30,280 --> 00:16:32,600 Speaker 1: All right, we're back. We're running through our Friday flight 362 00:16:32,640 --> 00:16:35,080 Speaker 1: the different headlines we've come across this week, and our 363 00:16:35,200 --> 00:16:37,560 Speaker 1: ludicrous headline of the week comes from the Wall Street Journal. 364 00:16:38,440 --> 00:16:41,840 Speaker 1: The headline reads, car dealerships don't want your cash, They 365 00:16:41,880 --> 00:16:44,880 Speaker 1: want to give you a loan. So car prices are 366 00:16:44,880 --> 00:16:48,080 Speaker 1: obviously much higher than they were two years ago right now, 367 00:16:48,200 --> 00:16:50,480 Speaker 1: so hot, right now, they're even more expensive than they 368 00:16:50,520 --> 00:16:53,440 Speaker 1: were like a year ago. Uh. Something like eight percent 369 00:16:53,520 --> 00:16:56,840 Speaker 1: of cars right now are selling more than the sticker price, 370 00:16:57,240 --> 00:17:00,200 Speaker 1: and use cars have gotten expensive as all get out 371 00:17:00,200 --> 00:17:01,920 Speaker 1: as well. But if you're in the market to buy 372 00:17:01,960 --> 00:17:05,680 Speaker 1: a new car, it's not just the much larger walkout 373 00:17:05,680 --> 00:17:09,040 Speaker 1: price that is messing up your finances. It's the financing 374 00:17:09,320 --> 00:17:12,760 Speaker 1: portion as well, or fans of buying cars with the 375 00:17:12,840 --> 00:17:15,040 Speaker 1: cash that you have saved up. We don't want you 376 00:17:15,400 --> 00:17:19,800 Speaker 1: financing a depreciating asset. But now given the limited supply, 377 00:17:20,480 --> 00:17:23,480 Speaker 1: dealerships are actually pushing people to take out more loans, 378 00:17:23,520 --> 00:17:26,080 Speaker 1: and that's because that is how they make the most money. 379 00:17:26,440 --> 00:17:29,560 Speaker 1: The finance and insurance departments can often represent more than 380 00:17:29,600 --> 00:17:32,640 Speaker 1: half of what a dealership brakes in each year. So 381 00:17:32,680 --> 00:17:35,680 Speaker 1: typically it's less about the sticker price, although they are 382 00:17:35,720 --> 00:17:38,680 Speaker 1: making a ton right now with the sticker price because 383 00:17:38,680 --> 00:17:40,800 Speaker 1: we've seen that shoot up, but also they're able to 384 00:17:40,840 --> 00:17:43,040 Speaker 1: wrote more and more folks into getting loans yea. And 385 00:17:43,080 --> 00:17:45,400 Speaker 1: if they find out that you're paying cash, they might 386 00:17:45,520 --> 00:17:47,800 Speaker 1: tell you that the car now costs thousands of dollars 387 00:17:47,800 --> 00:17:51,280 Speaker 1: more than they initially told you. And largely because of 388 00:17:51,440 --> 00:17:53,000 Speaker 1: what you're talking about math the fact that they make 389 00:17:53,040 --> 00:17:56,040 Speaker 1: so much money when you finance through them. And so 390 00:17:56,080 --> 00:17:57,920 Speaker 1: if you do need to finance the car, we would 391 00:17:57,960 --> 00:17:59,600 Speaker 1: say make sure to get a proof for a loan 392 00:17:59,760 --> 00:18:02,480 Speaker 1: for um your credit union first you'll often get a 393 00:18:02,480 --> 00:18:05,119 Speaker 1: better interest rate, and then having another lender that you 394 00:18:05,200 --> 00:18:08,679 Speaker 1: can go with is a great negotiating tactic, although with 395 00:18:08,880 --> 00:18:11,760 Speaker 1: the vehicle shortage, many of these dealers are getting just 396 00:18:11,960 --> 00:18:15,920 Speaker 1: so incredibly pushy about you getting alone directly from them. Yeah, 397 00:18:15,920 --> 00:18:18,240 Speaker 1: they don't want your credit union Alan, and they don't 398 00:18:18,240 --> 00:18:20,399 Speaker 1: want you They want you getting alone from them, and 399 00:18:20,440 --> 00:18:22,320 Speaker 1: so yeah, while it kind of makes sense in an 400 00:18:22,359 --> 00:18:26,399 Speaker 1: environment where demanded strong and supply is like almost non existent, 401 00:18:27,080 --> 00:18:29,560 Speaker 1: it's not a great policy for creating a repeat customer 402 00:18:29,560 --> 00:18:31,439 Speaker 1: because if you get pushed around, you're not gonna want 403 00:18:31,480 --> 00:18:33,800 Speaker 1: to buy a car from them now or in the future. 404 00:18:34,000 --> 00:18:36,639 Speaker 1: And honestly, buying a new car and financing it is 405 00:18:36,840 --> 00:18:39,720 Speaker 1: a bad move for the vast majority of people, no 406 00:18:39,840 --> 00:18:42,840 Speaker 1: matter the current market conditions. So our advice is to 407 00:18:42,880 --> 00:18:44,800 Speaker 1: take care of your vehicle so you can keep it 408 00:18:44,920 --> 00:18:47,879 Speaker 1: on the road longer and so you can avoid the 409 00:18:48,000 --> 00:18:51,480 Speaker 1: messy new car market altogether. This is just a bad 410 00:18:51,520 --> 00:18:54,200 Speaker 1: time to try to buy a new car and holding 411 00:18:54,240 --> 00:18:57,760 Speaker 1: off as long as possible, um until market conditions do 412 00:18:58,000 --> 00:19:00,240 Speaker 1: get better and clear up. We think that's a good 413 00:19:00,240 --> 00:19:02,400 Speaker 1: way to go. Yeah, that's definitely the best path to take. 414 00:19:02,440 --> 00:19:04,439 Speaker 1: But if you are going to be forced into a 415 00:19:04,440 --> 00:19:06,720 Speaker 1: position where you want to or you know, I'm not 416 00:19:06,720 --> 00:19:08,320 Speaker 1: gonna say that you have to buy a car from 417 00:19:08,320 --> 00:19:10,840 Speaker 1: a dealership, but if you want to, uh, you still 418 00:19:10,880 --> 00:19:14,560 Speaker 1: have an option. The story, they mentioned multiple examples of 419 00:19:14,560 --> 00:19:17,840 Speaker 1: folks who went ahead with the loan, they purchased the car, 420 00:19:17,920 --> 00:19:20,400 Speaker 1: and then immediately paid off the car once that first 421 00:19:20,440 --> 00:19:22,640 Speaker 1: statement came in or basically like once they went home 422 00:19:22,640 --> 00:19:25,159 Speaker 1: and set up their account online with the lender, that 423 00:19:25,200 --> 00:19:27,200 Speaker 1: they were able to immediately get rid of that loan 424 00:19:27,480 --> 00:19:30,879 Speaker 1: uh and then avoid basically paying virtually anything in interest. 425 00:19:31,040 --> 00:19:33,080 Speaker 1: And so a quick note if you are in that situation, 426 00:19:33,160 --> 00:19:35,480 Speaker 1: make sure that you read the fine type UH and 427 00:19:35,560 --> 00:19:38,399 Speaker 1: that there is not a pre payment penalty that would 428 00:19:38,480 --> 00:19:41,080 Speaker 1: keep you from getting out of that loan without having 429 00:19:41,119 --> 00:19:43,560 Speaker 1: to pay you know, maybe even thousands on top of 430 00:19:43,560 --> 00:19:45,840 Speaker 1: what you've already paid for that car. Yeah, good point, 431 00:19:45,920 --> 00:19:48,679 Speaker 1: because if you can take out the loan, save a 432 00:19:48,680 --> 00:19:50,520 Speaker 1: lot of money, score the price of the car, score 433 00:19:50,560 --> 00:19:52,840 Speaker 1: the car, pay off immediately. It's like that's a different 434 00:19:52,840 --> 00:19:55,720 Speaker 1: scenario exactly. All right. Well, speaking of cars, renting a car, 435 00:19:55,800 --> 00:19:58,480 Speaker 1: it's not getting any easier. We've talked about just some 436 00:19:58,560 --> 00:20:02,440 Speaker 1: of the insane rental prices that we've seen over the 437 00:20:02,520 --> 00:20:05,440 Speaker 1: last summer Matt, I want to say, like Toyota Corolla 438 00:20:05,480 --> 00:20:08,600 Speaker 1: and Hawaii was like a week. I mean, it was 439 00:20:08,640 --> 00:20:10,600 Speaker 1: just kind of outrageous what some people were paying to 440 00:20:10,640 --> 00:20:12,760 Speaker 1: rent a car and for running you halls to drive 441 00:20:12,800 --> 00:20:15,600 Speaker 1: their family, right, and then you all like didn't have 442 00:20:15,640 --> 00:20:19,679 Speaker 1: any trucks left because just vacationers were grabbing them. And uh, 443 00:20:20,359 --> 00:20:22,800 Speaker 1: the thing is, there's there's not gonna be much of 444 00:20:22,880 --> 00:20:25,800 Speaker 1: a dent in rental car prices during the peak travel 445 00:20:25,840 --> 00:20:29,520 Speaker 1: windows of this year. Sadly, rental car companies they still 446 00:20:29,520 --> 00:20:31,760 Speaker 1: don't have enough cars on hand for the number of 447 00:20:31,800 --> 00:20:34,720 Speaker 1: domestic travelers who are gonna need one. And so yeah, 448 00:20:34,720 --> 00:20:37,960 Speaker 1: we would suggest planning ahead makes even more sense these days. 449 00:20:38,280 --> 00:20:40,760 Speaker 1: Typically it's not all that necessary to check rental car 450 00:20:40,800 --> 00:20:43,879 Speaker 1: prices before you book a flight, because you know, you 451 00:20:43,920 --> 00:20:46,159 Speaker 1: can kind of assume they're going to be with in 452 00:20:46,160 --> 00:20:49,040 Speaker 1: a reasonable window. But it is a good idea these 453 00:20:49,119 --> 00:20:51,840 Speaker 1: days because your daily rental car fee could rival your 454 00:20:51,960 --> 00:20:55,320 Speaker 1: nightly hotel rate. Like that's insane, that's how expensive they've gotten. 455 00:20:55,560 --> 00:20:58,000 Speaker 1: And so yeah, we would say use sites like auto slash, 456 00:20:58,160 --> 00:21:00,960 Speaker 1: which will notify you if any hive drops occur so 457 00:21:01,000 --> 00:21:04,280 Speaker 1: that you can rebook at a lower rate. Also, make 458 00:21:04,320 --> 00:21:07,439 Speaker 1: sure to check out sites like to Row and get Around, 459 00:21:07,720 --> 00:21:10,920 Speaker 1: because yeah, those are individuals rending cars to you, and 460 00:21:11,000 --> 00:21:13,880 Speaker 1: you might be able to find better deals on those 461 00:21:13,880 --> 00:21:17,080 Speaker 1: sites than with the traditional rental car company. And on 462 00:21:17,119 --> 00:21:19,160 Speaker 1: that note, Matt, if if somebody needs some extra dough, 463 00:21:19,200 --> 00:21:21,000 Speaker 1: they want a little side hustle, they've got an extra 464 00:21:21,040 --> 00:21:24,040 Speaker 1: car sitting around, renting out one of your cars on 465 00:21:24,040 --> 00:21:26,280 Speaker 1: one of these apps could result in some meaningful side 466 00:21:26,320 --> 00:21:29,399 Speaker 1: income for you, kind of taking advantage of what's happening 467 00:21:29,400 --> 00:21:32,760 Speaker 1: in the marketplace and bringing actually some more equilibrium back 468 00:21:32,800 --> 00:21:35,640 Speaker 1: to uh this this market too. That's right, man. Let's 469 00:21:35,640 --> 00:21:38,440 Speaker 1: talk about students learning about money. We came across the 470 00:21:38,440 --> 00:21:41,359 Speaker 1: story Florida they might require a financial literacy course for 471 00:21:41,440 --> 00:21:44,400 Speaker 1: high school students in the near future. There's a bill 472 00:21:44,440 --> 00:21:46,720 Speaker 1: that's working its way through the House in the state 473 00:21:46,800 --> 00:21:49,600 Speaker 1: legislature as we speak that would require a class to 474 00:21:49,960 --> 00:21:53,000 Speaker 1: teach some of the personal finance basics to students before 475 00:21:53,119 --> 00:21:55,080 Speaker 1: they before they graduate. That sounds like something you and 476 00:21:55,119 --> 00:21:57,320 Speaker 1: I would get behind. But as the dude in the 477 00:21:57,320 --> 00:21:59,879 Speaker 1: Big Lebowskie would say, some new informations come to light, 478 00:21:59,880 --> 00:22:03,920 Speaker 1: and that's true. Yeah, no, there's this new study from 479 00:22:04,200 --> 00:22:08,080 Speaker 1: t I A. A that goes against what we've constantly 480 00:22:08,080 --> 00:22:11,280 Speaker 1: been saying about the need for personal finance education to 481 00:22:11,400 --> 00:22:14,960 Speaker 1: exist in schools. One of the key takeaways stated that 482 00:22:15,320 --> 00:22:19,200 Speaker 1: among the overall population, there is no evidence financial education 483 00:22:19,240 --> 00:22:23,159 Speaker 1: in high school improves the likelihood of having a retirement account, 484 00:22:23,400 --> 00:22:27,119 Speaker 1: having a non retirement savings account, or owning a home man, 485 00:22:27,359 --> 00:22:30,400 Speaker 1: which it feels like a personal affront when seriously does 486 00:22:30,440 --> 00:22:33,080 Speaker 1: it kind of makes me question the survey this research 487 00:22:33,080 --> 00:22:34,920 Speaker 1: paper a little bit. But they also said that more 488 00:22:35,040 --> 00:22:37,760 Speaker 1: education about money in those years, it doesn't decrease the 489 00:22:37,800 --> 00:22:40,520 Speaker 1: stress that people feel around money decisions. And so yeah, 490 00:22:40,520 --> 00:22:42,960 Speaker 1: it does raise the question, you know, like, is the 491 00:22:43,000 --> 00:22:46,679 Speaker 1: fight for personal finance classes in high school, you know, 492 00:22:47,280 --> 00:22:49,480 Speaker 1: not worth fighting anymore? Is it a dumb move? We 493 00:22:49,520 --> 00:22:51,399 Speaker 1: don't think so, but we we do think that the 494 00:22:51,440 --> 00:22:54,080 Speaker 1: approach is going to be crucial. You're saying we know 495 00:22:54,200 --> 00:22:57,040 Speaker 1: better than this survey, is what you're saying, and I'm 496 00:22:57,160 --> 00:23:00,399 Speaker 1: questioning it from that from that perspective. But what I but, 497 00:23:00,440 --> 00:23:02,880 Speaker 1: like we said, there are other surveys who have found differently, 498 00:23:03,080 --> 00:23:05,000 Speaker 1: But there is something that's been called into question in 499 00:23:05,040 --> 00:23:07,920 Speaker 1: recent years is like, is it as effective as people 500 00:23:07,960 --> 00:23:11,960 Speaker 1: say and doesn't make to address to make this a requirement? Well, 501 00:23:12,040 --> 00:23:14,959 Speaker 1: you know, we think yes, And because here's the thing. 502 00:23:15,000 --> 00:23:18,560 Speaker 1: We're all for kids learning about personal finance from an 503 00:23:18,560 --> 00:23:21,400 Speaker 1: early age, and so much of that really comes down 504 00:23:21,440 --> 00:23:23,600 Speaker 1: to the family. Right, is important for families to talk 505 00:23:23,640 --> 00:23:26,439 Speaker 1: to their kids about money early on, and it's a 506 00:23:26,440 --> 00:23:29,040 Speaker 1: great thing for teachers to touch on in school as well. 507 00:23:29,080 --> 00:23:31,600 Speaker 1: We think they should beginning it on both fronts. It's 508 00:23:31,640 --> 00:23:34,520 Speaker 1: it's certainly possible to make any class so boring though, 509 00:23:35,320 --> 00:23:37,760 Speaker 1: and so ineffective that it's of little to no use. 510 00:23:38,080 --> 00:23:40,600 Speaker 1: Um the mere act of just mandating that a subject 511 00:23:40,600 --> 00:23:42,200 Speaker 1: be taught it doesn't mean that it's going to be 512 00:23:42,240 --> 00:23:44,960 Speaker 1: taught well. And you might even be putting a teacher 513 00:23:45,000 --> 00:23:47,080 Speaker 1: in a position to teach a subject that they care 514 00:23:47,160 --> 00:23:50,040 Speaker 1: nothing about or no very little about, specifically in the 515 00:23:50,400 --> 00:23:53,000 Speaker 1: personal finance. Absolutely think that's the case. So I think 516 00:23:53,000 --> 00:23:55,160 Speaker 1: that might be part of the results that we're seeing 517 00:23:55,440 --> 00:23:57,440 Speaker 1: is like, it's ineffective, Well, is it because we haven't 518 00:23:57,480 --> 00:24:00,320 Speaker 1: equipped teachers well enough to to teach the sub checked 519 00:24:00,560 --> 00:24:02,960 Speaker 1: um potentially, And so it makes me think about our 520 00:24:03,000 --> 00:24:06,920 Speaker 1: conversation years ago Matt with Dan Lesal. He was teaching 521 00:24:06,920 --> 00:24:10,720 Speaker 1: personal finance in an incredibly effective way in an inner 522 00:24:10,720 --> 00:24:14,679 Speaker 1: city Philadelphia school, and part of his method involved finding 523 00:24:14,720 --> 00:24:18,080 Speaker 1: ways for his kids to make money and getting money 524 00:24:18,119 --> 00:24:20,879 Speaker 1: into their hands. So instead of just like dealing in 525 00:24:21,240 --> 00:24:25,120 Speaker 1: the abstract um these theories, these concepts, a textbook about 526 00:24:25,160 --> 00:24:28,200 Speaker 1: personal finance or something like that, these kids had hard 527 00:24:28,320 --> 00:24:30,400 Speaker 1: cash dollar bills in their hands that they could take 528 00:24:30,440 --> 00:24:33,080 Speaker 1: action with it. They could, you know, hear something in class, 529 00:24:33,200 --> 00:24:35,480 Speaker 1: have the money to then take an action based on 530 00:24:35,520 --> 00:24:36,879 Speaker 1: what they were hearing. Yeah, I mean, I think I 531 00:24:36,880 --> 00:24:38,760 Speaker 1: think a part of that program was them actually creating 532 00:24:38,840 --> 00:24:40,879 Speaker 1: jobs where they were paying the students with money that 533 00:24:40,960 --> 00:24:42,880 Speaker 1: was funding this program. Yes, and it was so cool, 534 00:24:42,920 --> 00:24:45,640 Speaker 1: like some of these kids, we're making hundreds of dollars 535 00:24:45,760 --> 00:24:49,320 Speaker 1: and starting their investment career in their teens. And so yeah, Yeah, 536 00:24:49,359 --> 00:24:51,920 Speaker 1: for any teachers out there who want to teach their 537 00:24:52,000 --> 00:24:55,520 Speaker 1: their kids about personal finance, whether you're mandated to by 538 00:24:55,520 --> 00:24:57,560 Speaker 1: state law or not, you just kind of want to 539 00:24:57,640 --> 00:25:00,200 Speaker 1: infuse some of those lessons because it's good for them. 540 00:25:00,240 --> 00:25:02,600 Speaker 1: We would say, check out that episode, episode ninety eight. 541 00:25:02,720 --> 00:25:05,520 Speaker 1: Dan had just a lot of helpful information to share, 542 00:25:05,760 --> 00:25:08,200 Speaker 1: and we would say, also check out the nonprofit which 543 00:25:08,240 --> 00:25:11,119 Speaker 1: is called Next Gen Personal Finance for a slew of 544 00:25:11,119 --> 00:25:14,280 Speaker 1: healthful resources. Will link to their site in our show notes. 545 00:25:14,520 --> 00:25:17,000 Speaker 1: But it's a great place for teachers to get basically 546 00:25:17,080 --> 00:25:20,480 Speaker 1: free resources that can help them teach personal finance in 547 00:25:20,520 --> 00:25:23,080 Speaker 1: an effective way. That's right. And last, but not least, 548 00:25:23,359 --> 00:25:24,840 Speaker 1: this is gonna be a story for folks who think 549 00:25:24,840 --> 00:25:26,280 Speaker 1: the way I do when it comes to what they 550 00:25:26,320 --> 00:25:29,960 Speaker 1: like to spend towards healthcare, Folks who think in a 551 00:25:29,960 --> 00:25:32,840 Speaker 1: convoluted way about heal care. We came across this article 552 00:25:32,920 --> 00:25:35,960 Speaker 1: this week talking about some different apps on your phone 553 00:25:36,280 --> 00:25:38,800 Speaker 1: that allow you to test your hearing. They allow you 554 00:25:38,840 --> 00:25:42,679 Speaker 1: to test test your vision. No, but I called professionals necessary. Uh. So, 555 00:25:42,720 --> 00:25:45,800 Speaker 1: for example, there's this app called my Number Reader costs 556 00:25:45,800 --> 00:25:48,520 Speaker 1: three bucks and you get a decent understanding of how 557 00:25:48,560 --> 00:25:51,040 Speaker 1: your vision is holding up. Uh and what kind of 558 00:25:51,040 --> 00:25:53,479 Speaker 1: prescription that you're gonna need. Yeah, I thought this was interesting, 559 00:25:53,480 --> 00:25:55,720 Speaker 1: so I figured I would give one of these things ago, Matt, 560 00:25:55,760 --> 00:25:58,760 Speaker 1: I haven't gotten my eyes tested in a number of years. 561 00:25:58,800 --> 00:26:01,560 Speaker 1: What is wrong with you? When a lay on the guilts? 562 00:26:01,680 --> 00:26:04,720 Speaker 1: I just got my eyes checked, you know, fairly recently. Congratulationship, 563 00:26:04,880 --> 00:26:06,600 Speaker 1: maybe you're doing better than me. Well, I tried one 564 00:26:06,600 --> 00:26:08,679 Speaker 1: called I Patient, and it ran me through like this 565 00:26:08,760 --> 00:26:11,000 Speaker 1: litany of tests to see how my eyes are holding 566 00:26:11,080 --> 00:26:14,560 Speaker 1: up in case you're wondering, I've got phenomenal vision. But 567 00:26:14,720 --> 00:26:16,520 Speaker 1: it was it was free, and it's kind of a 568 00:26:16,640 --> 00:26:21,280 Speaker 1: nice thing to do in this long break between visits 569 00:26:21,280 --> 00:26:23,480 Speaker 1: to the optimologists where I could kind of at least 570 00:26:23,480 --> 00:26:25,520 Speaker 1: get an understanding of, like, all, is my vision still 571 00:26:25,520 --> 00:26:27,520 Speaker 1: doing well, which it seems like it is. It's like 572 00:26:27,560 --> 00:26:29,080 Speaker 1: a good way. Just yeah, it's a good way to 573 00:26:29,080 --> 00:26:30,399 Speaker 1: like lick your thumb, put it up in the air, 574 00:26:30,480 --> 00:26:32,400 Speaker 1: kind of get a gauge for you know, which where 575 00:26:32,400 --> 00:26:34,200 Speaker 1: the winds blown a little bit. But it's just really 576 00:26:34,200 --> 00:26:36,600 Speaker 1: cool to see that they're uh. You know, there's a 577 00:26:36,600 --> 00:26:38,679 Speaker 1: whole host of different apps out there like that that 578 00:26:38,720 --> 00:26:42,040 Speaker 1: can get you you know, they're part way, Mimi, this 579 00:26:42,080 --> 00:26:44,600 Speaker 1: is another app that can test your hearing. Uh. And 580 00:26:44,920 --> 00:26:47,000 Speaker 1: it's important to mention that like these apps, they're not 581 00:26:47,040 --> 00:26:50,760 Speaker 1: necessarily a substitute for an actual visit to your primary 582 00:26:50,760 --> 00:26:53,520 Speaker 1: care doctor or an ophthalmologist. It's more of a supplement, 583 00:26:53,720 --> 00:26:55,159 Speaker 1: like you said, Joel, kind of like during those in 584 00:26:55,200 --> 00:26:57,760 Speaker 1: between times. But it's it's cool to see how medical 585 00:26:57,760 --> 00:27:01,240 Speaker 1: technology is progressing and how that might save us money. Uh, 586 00:27:01,320 --> 00:27:03,919 Speaker 1: and it could mean fewer doctor visits in the future. 587 00:27:04,119 --> 00:27:05,720 Speaker 1: You know, if you're using one of these apps, maybe 588 00:27:05,720 --> 00:27:07,560 Speaker 1: you get some bad results. I think that could be 589 00:27:07,600 --> 00:27:09,840 Speaker 1: a good sign that like, oh now it is actually 590 00:27:09,840 --> 00:27:11,520 Speaker 1: time to go in and make sure you get it 591 00:27:11,560 --> 00:27:14,400 Speaker 1: really dialed in. I'm not necessarily saying that you can 592 00:27:14,760 --> 00:27:16,639 Speaker 1: print out a sheet of paper or use an app 593 00:27:16,800 --> 00:27:20,639 Speaker 1: and perfectly diagnosed, whether you know what your glasses prescription 594 00:27:20,720 --> 00:27:24,480 Speaker 1: could be, like what about stigmatisms, different things like that, 595 00:27:24,520 --> 00:27:27,080 Speaker 1: there's there you know, or even you know glaucoma, like 596 00:27:27,080 --> 00:27:30,399 Speaker 1: as folks get older, that's another um that's an eye disease, right, 597 00:27:30,480 --> 00:27:32,080 Speaker 1: like something in the back of your eye. Well, you 598 00:27:32,359 --> 00:27:35,200 Speaker 1: want a medical pro who's trained in that to evaluate. Yeah. 599 00:27:35,359 --> 00:27:37,480 Speaker 1: So we're not saying that you should never seek out 600 00:27:37,520 --> 00:27:40,520 Speaker 1: a professional, but I think there are instances when you 601 00:27:40,560 --> 00:27:43,680 Speaker 1: know that certain parts of your body, of certain parts 602 00:27:43,680 --> 00:27:46,040 Speaker 1: of your health that are doing well. I know in 603 00:27:46,080 --> 00:27:49,080 Speaker 1: my case that I am more comfortable uh, stretching out 604 00:27:49,080 --> 00:27:52,160 Speaker 1: the periods of time between I see a healthcare professional. Yeah, 605 00:27:52,160 --> 00:27:54,680 Speaker 1: but of course that is my personal opinion, no doubt. 606 00:27:54,680 --> 00:27:56,399 Speaker 1: All right, Matt, that's gonna do it for this episode. 607 00:27:56,400 --> 00:27:58,359 Speaker 1: I just quick one last question. We talked about the 608 00:27:58,359 --> 00:28:00,600 Speaker 1: Batman earlier, and I'm I'm curious to see if Robert 609 00:28:00,640 --> 00:28:03,639 Speaker 1: Pattinson is a good Batman. But you're more into superhero 610 00:28:03,640 --> 00:28:06,120 Speaker 1: movies than I am. Who's the best Batman all the time? 611 00:28:06,280 --> 00:28:08,880 Speaker 1: So I mean, I'm into Marvel not not like Batman's part. 612 00:28:08,960 --> 00:28:11,280 Speaker 1: It's like a whole, whole separate thing. And to be honest, 613 00:28:11,320 --> 00:28:13,280 Speaker 1: I was a big fan of Christian Bale, so you know, 614 00:28:13,640 --> 00:28:15,480 Speaker 1: I am also curious. I don't think we're gonna go 615 00:28:15,520 --> 00:28:17,439 Speaker 1: see that one in the theater. It's Kilmer's right up 616 00:28:17,440 --> 00:28:22,000 Speaker 1: there too, though. Now please, great dude. I feel like 617 00:28:22,040 --> 00:28:24,280 Speaker 1: all of the nineties, all the you know, the Nighties 618 00:28:24,280 --> 00:28:25,600 Speaker 1: were great in a lot of ways, but when it 619 00:28:25,640 --> 00:28:28,800 Speaker 1: came to some of the different superhero movies, Nope, okay, 620 00:28:29,000 --> 00:28:30,960 Speaker 1: not so great. Maybe I just remember it fondly from 621 00:28:31,000 --> 00:28:33,400 Speaker 1: my childhood days. By the way, all right, that's gonna 622 00:28:33,440 --> 00:28:35,520 Speaker 1: do it for this episode. Make sure to go to 623 00:28:35,560 --> 00:28:37,399 Speaker 1: those show notes for links to some of the apps 624 00:28:37,400 --> 00:28:39,160 Speaker 1: so we talked about and to see some of the 625 00:28:39,200 --> 00:28:41,280 Speaker 1: stories so we we talked about on this episode, and 626 00:28:41,280 --> 00:28:43,000 Speaker 1: we'll be back here on Monday with a fresh Ask 627 00:28:43,200 --> 00:28:47,000 Speaker 1: htm episode answering some of your listener questions, So Matt, 628 00:28:47,120 --> 00:29:04,800 Speaker 1: until next time, Best Friends Out, Best Friends Out. M