WEBVTT - Friday Flight - Prime Day Reprise, Subversive Subscriptions, & Moving for Money #573 0:00:00.080 --> 0:00:03.120 Welcome to How the Money. I'm Joel and I am Matt, 0:00:03.320 --> 0:00:07.440 and today we're discussing Prime Day, Reprise, subversive subscriptions, and 0:00:07.520 --> 0:00:29.360 moving for money. You know, buddy, this is our Friday 0:00:29.400 --> 0:00:31.680 flight where we are gonna go over some of our 0:00:31.800 --> 0:00:35.680 favorite stories that we came across this week, the stories 0:00:35.720 --> 0:00:38.120 that we want you to pay attention to because they 0:00:38.159 --> 0:00:42.040 have a direct impact on your personal finances. And um, 0:00:42.040 --> 0:00:44.800 this isn't quite a story, but I saw that I 0:00:44.840 --> 0:00:46.760 got a question for you following this as well. But 0:00:46.840 --> 0:00:51.320 thirty percent of households still have a landline, which it's 0:00:51.400 --> 0:00:54.400 obviously has been declining ever since they started keeping track 0:00:54.440 --> 0:00:56.680 of this, maybe decade or two ago. But do you 0:00:56.720 --> 0:00:59.080 remember the last time you ever? Have you ever lived 0:00:59.080 --> 0:01:01.120 in a home or or an apartment where you had 0:01:01.120 --> 0:01:03.560 a landline? Only only in the home my parents owned 0:01:03.600 --> 0:01:07.039 back And I was curious because I as I was 0:01:07.040 --> 0:01:09.680 thinking through this, I remembered, so ever since Kate and 0:01:09.680 --> 0:01:11.520 I have been together, we've never paid for a phone. 0:01:11.640 --> 0:01:16.800 But when I was in college, yep, we had a landline. Andrew, 0:01:16.840 --> 0:01:20.680 our one roommate, insisted that we really should have a 0:01:20.800 --> 0:01:23.120 land line, and so it was a bill that we 0:01:23.160 --> 0:01:25.360 split four ways every single month. Cell Phones were still 0:01:25.400 --> 0:01:28.080 a little fresh back then, right they were. They were fresh, 0:01:28.120 --> 0:01:31.280 but even still more expensive. Nobody used the stupid land line. 0:01:31.440 --> 0:01:34.160 It was just sort of like this thing that almost 0:01:34.160 --> 0:01:38.160 seemed like a like a blankie, like like just in 0:01:38.280 --> 0:01:41.680 case the grid goes down or something like that, we 0:01:41.720 --> 0:01:43.160 can still make a phone. When you look at what's 0:01:43.160 --> 0:01:45.760 happened with prices of land lines, they've just continued to 0:01:45.760 --> 0:01:48.320 go up, but prices of cell phone service have just 0:01:48.360 --> 0:01:51.720 continued to go down. So I guess I understand why 0:01:51.720 --> 0:01:54.560 some people might want that security blanket still land line. 0:01:54.560 --> 0:01:56.360 Maybe that was the case back then. When I guarantee 0:01:56.360 --> 0:01:57.920 you there's still a lot of people paying for one 0:01:58.280 --> 0:02:01.680 who might be realizing right out, wait a second, Yeah, 0:02:01.680 --> 0:02:03.760 I am hay on that bill every month. And no, 0:02:03.880 --> 0:02:06.160 it's been a few years since I've even used mine. 0:02:06.400 --> 0:02:08.799 And plus I don't even remember my phone number in 0:02:08.880 --> 0:02:11.000 line anymore. I bet there's some people who fall into 0:02:11.040 --> 0:02:12.800 that camp, who could who could easily just kind of 0:02:12.840 --> 0:02:14.959 call up and cancel tomorrow. You know, It's funny something 0:02:14.960 --> 0:02:17.360 else Buddy and I mentioned recently. He said, Okay, when 0:02:17.400 --> 0:02:19.040 your kids kids say that they're going to talk on 0:02:19.040 --> 0:02:21.160 the phone, how do they how do they hold their 0:02:21.160 --> 0:02:23.800 hand to their head to indicate that they're talking on 0:02:23.840 --> 0:02:26.160 the phone. And he pointed out that basically all of 0:02:26.160 --> 0:02:28.320 our kids when they hold a phone up to their head, 0:02:28.560 --> 0:02:31.040 either put their hand up like it's an iPhone or 0:02:31.200 --> 0:02:33.160 like it's a smartphone, or they hold it like you're 0:02:33.160 --> 0:02:37.040 holding a little brick, as opposed to the pinky thumb extension, 0:02:37.120 --> 0:02:38.959 which is I feel like my kids are used to 0:02:39.040 --> 0:02:41.639 video calling, so they're kind of like flash in front 0:02:41.639 --> 0:02:45.960 of their face or on FaceTime or something like that. Yeah, 0:02:46.280 --> 0:02:48.720 but just yeah, another indicator that we're getting older. Man, 0:02:48.840 --> 0:02:51.080 we might be the last generation who speaks into their 0:02:51.080 --> 0:02:54.840 pinky and listens through their thumb. It's kind of kind 0:02:54.840 --> 0:02:56.280 of old school. Not that's nothing I had thought of it. 0:02:56.400 --> 0:02:58.000 It's like the land line. If you're out there listening 0:02:58.040 --> 0:02:59.400 and you're like, wait a second, I don't use it, 0:02:59.480 --> 0:03:01.239 and I do have one. Man, it's it's time to 0:03:01.280 --> 0:03:04.440 get rid of it. But I can't imagine that how 0:03:04.440 --> 0:03:06.760 the money listeners still have a landline hanging around. I 0:03:06.840 --> 0:03:09.000 gotta I gotta imagine it's a much smaller segment, but 0:03:09.200 --> 0:03:11.079 I guess so Yeah, well, let's move on, Matt. Let's 0:03:11.080 --> 0:03:13.639 get to all the interesting stories we found fascinating this 0:03:13.760 --> 0:03:16.280 week in the realm of personal finance, because there's a 0:03:16.320 --> 0:03:18.560 lot of stuff that impacts how you spend, save, and 0:03:18.600 --> 0:03:21.400 invest in today's episode. And you know what, the world 0:03:21.639 --> 0:03:26.560 really doesn't need, Matt, but it's getting anyway. Pay phones. Yeah, 0:03:26.560 --> 0:03:28.640 we don't need payphones anymore. But we also don't need 0:03:28.919 --> 0:03:32.919 another Amazon Prime Day. However, they failed up help to 0:03:32.960 --> 0:03:35.240 give us one. And this is happening in a couple 0:03:35.280 --> 0:03:39.000 of weeks on October eleven and twelve. Amazon and other 0:03:39.080 --> 0:03:41.680 retailers Apparently they're you know, they're they're thinking that inflation 0:03:41.800 --> 0:03:44.640 in the slowing economy is kind of curb holiday spending. 0:03:44.720 --> 0:03:46.640 So what they're trying to do is they're trying to 0:03:46.680 --> 0:03:49.320 get us to spend earlier than usual. I think that's 0:03:49.360 --> 0:03:52.680 what this second Prime Day is all about. They don't 0:03:52.680 --> 0:03:55.080 want us to wait until the days before Christmas because 0:03:55.440 --> 0:03:57.640 they want to spend less at that point, and or 0:03:57.920 --> 0:04:00.240 maybe just forget to buy gifts at all, just want 0:04:00.240 --> 0:04:02.520 to clear out those warehouses because they've got if they've 0:04:02.520 --> 0:04:04.680 got all these goods just sitting there and nobody is 0:04:04.760 --> 0:04:06.840 buying them. That's right. Yeah, because the supply chains are 0:04:06.920 --> 0:04:09.360 kind of back online for a lot of those major retailers, 0:04:09.360 --> 0:04:11.880 they've got more stuff than they planned on having. And 0:04:12.560 --> 0:04:15.400 to Walmart and Target, they've announced similar efforts to frontload 0:04:15.440 --> 0:04:18.520 holiday sales. Target said holiday deals are going to start 0:04:18.520 --> 0:04:22.280 by October six in in uh Target stores. So I 0:04:22.320 --> 0:04:24.120 guess my question is is this a good thing or 0:04:24.200 --> 0:04:26.800 a bad thing? I think of it as kind of 0:04:26.839 --> 0:04:28.920 being both. It's it's kind of like a double edged sword, 0:04:28.960 --> 0:04:32.080 because more deals can cause us to buy more stuff, 0:04:32.120 --> 0:04:35.240 stuff that we don't necessarily need. That's bad and can 0:04:35.400 --> 0:04:38.920 inhibit our ability to reach other financial goals we have. Right. 0:04:39.160 --> 0:04:42.520 But on the other side, shopping early for holiday presents 0:04:42.600 --> 0:04:46.480 that you're planning to buy anyways can save you money, right, 0:04:46.600 --> 0:04:49.160 And so there's there's that park. Yeah, if you were 0:04:49.200 --> 0:04:52.559 already planning to make certain certain purchases, uh, if these 0:04:52.680 --> 0:04:54.720 were gonna be gifts and things that you're gonna buy anyway, 0:04:54.720 --> 0:04:56.520 that could save you a lot of money, uh, and 0:04:56.600 --> 0:04:59.320 also allow you to enjoy the holidays a bit more too. 0:04:59.440 --> 0:05:01.640 I think, you know, like you could you could be 0:05:01.720 --> 0:05:04.600 a touch more present if you're not thinking about presents 0:05:05.839 --> 0:05:10.400 like that their presence over presence, you know what I'm 0:05:10.400 --> 0:05:13.000 saying there. Uh, And so we would recommend for folks 0:05:13.040 --> 0:05:15.400 to to make a list now of the folks that 0:05:15.440 --> 0:05:18.080 you want to buy guests for this year, create a budget, 0:05:18.160 --> 0:05:20.200 you know, stick to that list of items that you're 0:05:20.200 --> 0:05:23.279 considering getting for them. Don't be afraid to shop the sales, 0:05:23.360 --> 0:05:25.760 but do stick to your list. Personally, I think I 0:05:26.120 --> 0:05:28.680 enjoy having a little bit more time. I wish gift 0:05:28.760 --> 0:05:30.720 giving was like a part of like more of my 0:05:30.839 --> 0:05:32.680 day to day where I'm thinking about it more often, 0:05:32.720 --> 0:05:36.080 but oftentimes I'm I'm not. But yeah, again, the previous years, 0:05:36.360 --> 0:05:39.239 supply chains were a reason that some of these holiday 0:05:39.279 --> 0:05:42.159 sales were starting sooner than later. This year, it seems 0:05:42.160 --> 0:05:44.280 like it's going to be inflation. But either way, we 0:05:44.360 --> 0:05:48.080 want to make sure that you are spending your dollars wisely. Joe, 0:05:48.120 --> 0:05:50.840 let's switch from spending to saving money. There is a 0:05:50.880 --> 0:05:55.320 great article on CNBC about super savers. We typically think 0:05:55.520 --> 0:05:57.839 of super savers as like somebody who's saving at least 0:05:57.839 --> 0:06:01.480 fifty of their income, but CNB they were referring to 0:06:01.560 --> 0:06:05.320 it as folks who were funneling cent or more of 0:06:05.360 --> 0:06:09.040 their income into work sponsored retirement account like a four 0:06:09.120 --> 0:06:12.080 one K, and so you might, uh, you might be 0:06:12.120 --> 0:06:13.840 having like the the knee jerk reaction that I did. 0:06:14.360 --> 0:06:17.479 It must be nice to be a loaded, dank household, 0:06:17.640 --> 0:06:20.200 you know, like you've got an engineering degree, Oh, you've 0:06:20.240 --> 0:06:23.040 got a job as an attorney. Yeah, saving fift is 0:06:23.080 --> 0:06:25.280 still like a far off goal for a lot of 0:06:25.320 --> 0:06:27.760 people when it comes to they're what they want to 0:06:27.800 --> 0:06:31.240 invest in. It's a lot, it's a lot less than 0:06:31.320 --> 0:06:33.520 fifty percent. But those are folks who are on these 0:06:34.080 --> 0:06:36.640 like crazy paths towards fire where they're looking to retire 0:06:36.760 --> 0:06:39.640 in just a few years. Not what most folks are 0:06:39.800 --> 0:06:43.000 looking to achieve. But that being said, as I read 0:06:43.040 --> 0:06:45.320 this article, I found out that it's actually not when 0:06:45.360 --> 0:06:47.279 the stats shows that it's not that kind of folks 0:06:47.520 --> 0:06:50.599 who were considered super savers, Not all of them are loaded. 0:06:50.640 --> 0:06:52.960 Some folks in the survey we're making as little as 0:06:53.040 --> 0:06:55.640 thirty five thous dollars every year and they were still 0:06:55.800 --> 0:06:58.200 able to salk away such a high percentage of their 0:06:58.240 --> 0:07:01.560 income every month. I think that's incredibly cool and the 0:07:01.640 --> 0:07:04.040 way that they were doing it. We're just through some 0:07:04.440 --> 0:07:08.120 like basic frugal means of living. UH. Some of the 0:07:08.160 --> 0:07:10.400 stats they shared where that forty eight percent of these 0:07:10.440 --> 0:07:13.920 folks drove older vehicles, thirty nine percent don't travel as 0:07:14.000 --> 0:07:16.680 much as that they'd like to. Percent also clean their 0:07:16.680 --> 0:07:19.800 own homes uh, and thirty eight percent of folks attempt 0:07:19.880 --> 0:07:22.400 to d I y most things. All of these things 0:07:22.480 --> 0:07:27.360 sound up our alley like the kind of basic really exactly, 0:07:27.520 --> 0:07:30.800 but it's also the path to stocking away tons of 0:07:30.840 --> 0:07:34.120 money into retirement. It's not rocket science, but being able 0:07:34.200 --> 0:07:36.920 to save more typically involve some of these small trade 0:07:36.920 --> 0:07:39.560 off some of these tradeoffs that we face almost day 0:07:39.600 --> 0:07:42.200 to day in our lives. But what we need to 0:07:42.240 --> 0:07:45.560 keep in mind is the flexibility and the independence that 0:07:45.600 --> 0:07:48.040 you're able to achieve are going to be well worth it. 0:07:48.440 --> 0:07:51.280 There's nothing wrong with having a massive income, with having 0:07:51.440 --> 0:07:53.360 a fat paycheck rolling in all the time, but this 0:07:53.520 --> 0:07:55.360 just goes to show that you don't have to have 0:07:55.520 --> 0:07:57.800 that in order to not only be a super saver, 0:07:57.960 --> 0:08:00.320 but to also achieve some sort of sense of financial 0:08:00.360 --> 0:08:02.400 freedom down the road. To me, that was the most 0:08:02.520 --> 0:08:04.160 comforting thing because I know there are a lot of 0:08:04.200 --> 0:08:05.960 people out there on small incomes. It makes me think 0:08:06.000 --> 0:08:08.760 of our conversation recently with Sarah the Budget Girl, and 0:08:09.240 --> 0:08:11.680 she is crushing it on what a lot of people 0:08:11.680 --> 0:08:13.720 would say is as a small income, what she's been 0:08:13.720 --> 0:08:16.880 able to achieve, all those little things matter a whole lot, 0:08:17.160 --> 0:08:20.200 especially um the smaller income that you have going on. 0:08:20.520 --> 0:08:22.760 So it's it's fun to be able to see people 0:08:23.080 --> 0:08:25.400 at that end of the income spectrum still able to 0:08:25.480 --> 0:08:27.360 save and invest that much. And Matt and I wait, 0:08:27.440 --> 0:08:30.560 we would say, is the minimum that people should be 0:08:30.840 --> 0:08:34.440 seeking to save and invest? Uh? Paying yourself first right, 0:08:34.760 --> 0:08:37.280 Sacking away at least fifteen of what you have into 0:08:37.320 --> 0:08:40.319 your savings accounts and investment accounts is an important goal 0:08:40.440 --> 0:08:42.719 to strive for. Ultimately, we want people to be able 0:08:42.760 --> 0:08:45.120 to save and invest more than that, and even higher percentage, 0:08:45.240 --> 0:08:47.520 but fifteen is our kind of bare minimum we want 0:08:47.559 --> 0:08:50.040 folks shooting for. And on the note of saving more, 0:08:50.080 --> 0:08:52.760 Matt Bloomberg. They had a great article this week backing 0:08:52.840 --> 0:08:54.480 up something that you and I we've been saying on 0:08:54.520 --> 0:08:58.199 the show for years that online banks are the best 0:08:58.280 --> 0:09:01.520 banks and it's not been close. The main takeaway from 0:09:01.520 --> 0:09:04.760 this article was that the average rate on savings accounts 0:09:04.880 --> 0:09:08.760 in the country is a paltry point one three but 0:09:09.440 --> 0:09:11.719 there are some banks out there offering rates north of 0:09:11.880 --> 0:09:14.360 two and a half percent. And the reality is that 0:09:14.679 --> 0:09:18.160 rates are vastly superior with the online banks, but so 0:09:18.360 --> 0:09:21.320 are the customer service and additional parks too. So if 0:09:21.320 --> 0:09:23.200 you're banking with one of the big banks, they're likely 0:09:23.240 --> 0:09:26.959 paying you point zero one percent on savings, like we're 0:09:26.960 --> 0:09:29.920 talking about Wells Fargo Bank of America. Those guys, so 0:09:30.080 --> 0:09:32.959 please please ditch them in favor of one of the 0:09:33.360 --> 0:09:37.199 much better, fastly superior online banks. Marcus, Ally, c, I 0:09:37.320 --> 0:09:39.480 T and Discover are just a few of our favorites. 0:09:39.880 --> 0:09:42.479 Link to an article outlining how to switch banks effectively 0:09:42.520 --> 0:09:44.839 in the show notes, because I know sometimes that is 0:09:44.880 --> 0:09:46.800 what feels like a pain. It's like, do I really 0:09:46.840 --> 0:09:49.920 have to do this adulting thing and and change banks 0:09:50.000 --> 0:09:53.000 and and change all my financial transactions to come out 0:09:53.040 --> 0:09:55.839 of this account. Yes, yes you do, but it's not 0:09:55.960 --> 0:09:58.199 as big of a lift as you think it is. 0:09:58.559 --> 0:10:00.079 And to get paid more on your money is a 0:10:00.120 --> 0:10:02.040 great thing, But it's also nice to do business with 0:10:02.080 --> 0:10:04.640 a bank that doesn't completely stuck. At the same time, Yeah, 0:10:04.800 --> 0:10:09.240 I will say personally, it's been nice seeing the amount 0:10:09.360 --> 0:10:11.680 the learning an interest every month from my high yield 0:10:11.679 --> 0:10:16.520 savings account increase steadily every single month. That has also 0:10:16.600 --> 0:10:19.720 been very nice. It's not that's not something that anybody 0:10:19.800 --> 0:10:23.120 with the big traditional break and mortar banks, they're not 0:10:23.240 --> 0:10:26.920 experiencing that. I am. Come on over to the come 0:10:26.960 --> 0:10:29.920 on over to the bright side. Um, okay, let's talk 0:10:29.920 --> 0:10:34.439 about those subversive subscriptions, because it turns out that on 0:10:34.559 --> 0:10:37.839 average we underestimate how much we pay monthly for the 0:10:38.040 --> 0:10:40.920 different recurring subscriptions in our in our life, and not 0:10:41.000 --> 0:10:44.040 by a small amount, but by a significant amount. There 0:10:44.120 --> 0:10:46.720 is a C and Our research paper recently and they 0:10:46.720 --> 0:10:49.760 found out that most folks have almost no clue about 0:10:49.800 --> 0:10:52.120 what they pay for various subscriptions each and every month. 0:10:52.400 --> 0:10:54.440 Almost none of the folks who participate in the survey 0:10:54.760 --> 0:10:58.880 were accurate, Like pretty much everybody missed the mark by 0:10:58.920 --> 0:11:02.040 at least a little yeah, if if not a significant amount. 0:11:02.440 --> 0:11:05.920 Over half fifty four percent of folks undershot how much 0:11:06.080 --> 0:11:09.320 they spend every month on subscriptions by over a hundred 0:11:09.360 --> 0:11:11.480 bucks uh. And the average amount that they were off 0:11:11.640 --> 0:11:13.760 was by something like a hundred and thirty three dollars. 0:11:14.360 --> 0:11:16.400 Of that amount, there were there was eleven percent who 0:11:16.440 --> 0:11:19.319 were off by more than three hundred bucks, which is 0:11:19.400 --> 0:11:21.720 like mind blowing so much money? How much you spent 0:11:21.760 --> 0:11:25.400 on subscriptions? I don't know, twenty bucks? Sorry, Actually, like 0:11:25.559 --> 0:11:27.560 how could you be that far off? That is that's 0:11:27.559 --> 0:11:29.719 closer to the truth than you realize. Um, there's just 0:11:30.000 --> 0:11:33.520 this massive gap between like what we think we're paying 0:11:34.120 --> 0:11:37.200 what we're actually shelling out. And it's obviously it's clearly 0:11:37.280 --> 0:11:39.640 going to have an impact on our finances in large 0:11:39.679 --> 0:11:42.000 part because this isn't just a single expense. This these 0:11:42.000 --> 0:11:45.000 are recurring expenses. This happens every single month. If you're 0:11:45.000 --> 0:11:47.360 talking about three hundred bucks, over the course of a year, 0:11:47.400 --> 0:11:50.800 you're thirty six dollars. That is a ton of money. 0:11:50.880 --> 0:11:52.840 And folks are wondering where, like where can I find 0:11:52.880 --> 0:11:54.680 the money to what? It's like, Oh, I've got an 0:11:54.800 --> 0:11:56.480 hs A, but how am I supposed to fund it? 0:11:56.760 --> 0:11:59.920 Right there? Maybe those subscriptions that you're not even maybe 0:12:00.000 --> 0:12:01.640 you're not getting value from it. Maybe you are, but 0:12:01.760 --> 0:12:04.160 if you're not, this is something we want you to read. 0:12:04.200 --> 0:12:07.200 This pay attention to the money that is automatically leaving 0:12:07.200 --> 0:12:10.800 your account every month. Yeah, these subversive subscriptions, Matt. They 0:12:10.840 --> 0:12:13.840 made me think of like a boat that's got tiny 0:12:13.960 --> 0:12:16.880 little leaks that are kind of hard to see. And 0:12:17.040 --> 0:12:18.880 and that's the thing is, like, that's what they're counting 0:12:18.920 --> 0:12:20.920 on when you sign up, is that you're going to 0:12:21.040 --> 0:12:23.280 forget about it, but you're gonna keep paying because it's 0:12:23.320 --> 0:12:26.880 on autopilot and you're gonna be out money every month. 0:12:27.080 --> 0:12:29.600 But at the same time you might forget about that subscription, 0:12:29.679 --> 0:12:32.120 you might not be getting value from it. And apparently 0:12:33.240 --> 0:12:36.640 of folks say that subscriptions are making them crazy because 0:12:36.640 --> 0:12:39.079 they're hard to keep track of. They're they're literally adding 0:12:39.160 --> 0:12:41.880 stress to people's lives rather than relieving it, which is 0:12:41.960 --> 0:12:45.760 often the promise of so many subscription services. Three quarters 0:12:45.840 --> 0:12:48.480 of folks say they're easy to forget about, which is true. 0:12:48.679 --> 0:12:51.200 That's why people are paying them right every single month, 0:12:51.640 --> 0:12:54.640 like clockwork, and they're forgetting that they even that they 0:12:54.679 --> 0:12:56.679 even have access to whatever it is, whether it's a 0:12:56.679 --> 0:12:59.439 streaming service or whether it's some sort of relationship with 0:12:59.480 --> 0:13:02.440 an apparel company, whether it's an Amazon subscribe and save, 0:13:02.559 --> 0:13:05.880 like whatever it is, people are signing up forgetting about 0:13:05.920 --> 0:13:08.320 it and still paying for us right. So we would 0:13:08.320 --> 0:13:10.800 say it's time to call your subscriptions. I literally did 0:13:10.880 --> 0:13:13.960 that just this week because we we had go Henry, 0:13:14.040 --> 0:13:17.520 which helps to teach our kids about finances. But I realized, 0:13:17.559 --> 0:13:19.599 wait a second, I thoroughly enjoyed it. I think it 0:13:19.640 --> 0:13:21.679 was good helping my girls learn some lessons. But I 0:13:21.760 --> 0:13:24.600 want to go back to the physical, tangible approach with dollars. 0:13:24.880 --> 0:13:26.719 And so I'm like, listen, this is a subscription that 0:13:26.720 --> 0:13:29.360 I'm paying for. It's costing me money too. So I 0:13:29.520 --> 0:13:32.640 canceled and now, uh, now I've got that one out 0:13:32.679 --> 0:13:34.600 of my life. And so if you don't track your expenses, 0:13:34.600 --> 0:13:36.680 that's where you gotta start. You gotta find out where 0:13:36.760 --> 0:13:40.000 your money is going, whether that's using a basic spreadsheet 0:13:40.080 --> 0:13:42.760 or something like mint. You know, those subscription services are 0:13:42.880 --> 0:13:45.240 nefarious because it's so easy to forget about them, And 0:13:45.320 --> 0:13:47.920 this weekend would be a great time to start canceling 0:13:47.920 --> 0:13:50.600 stuff you're not actually using to kind of start looking 0:13:50.720 --> 0:13:53.040 at finding those leaks in the ship so you can 0:13:53.040 --> 0:13:55.440 start plugging them up. Unfortunately, I don't think most folks 0:13:55.480 --> 0:13:57.719 share the same sort of They don't get the same 0:13:57.800 --> 0:14:00.959 high that we do when we find seeing money, when 0:14:01.040 --> 0:14:03.760 we find ways to keep it's it's it's like a 0:14:03.840 --> 0:14:06.120 slow bleed, you know, like like we're like you said, 0:14:06.280 --> 0:14:07.839 well you're talking about a boat, but like you're just 0:14:07.920 --> 0:14:10.800 slowly bleeding out, and this is these are resources that 0:14:10.840 --> 0:14:12.800 you could easily regain. I think this is a fun game. 0:14:12.880 --> 0:14:15.400 I think it's fun to spot these dollars and be like, 0:14:15.440 --> 0:14:17.520 wait a second, Yeah, you're right. I was way under 0:14:17.640 --> 0:14:19.200 estimating mind, just like the rest of these people in 0:14:19.240 --> 0:14:21.840 the survey. And and now guess what, I'm going to 0:14:21.960 --> 0:14:23.720 finally seeing someone plug the leaks and I'm gonna bring 0:14:23.720 --> 0:14:25.480 a hundred twenty dollars a month back into my life 0:14:25.560 --> 0:14:28.040 or whatever it is. That's a significant amount of money 0:14:28.080 --> 0:14:30.280 that then you could be spending in a more intentional way. 0:14:30.320 --> 0:14:31.640 But we just have to find a way to make 0:14:31.640 --> 0:14:34.000 it more fun, because people would do it if like 0:14:34.400 --> 0:14:36.480 there has to be some sort of like mental shifts, 0:14:36.520 --> 0:14:39.040 some sort of trick that takes place. I mean, we talked, 0:14:39.360 --> 0:14:42.600 We've talked a lot about subscriptions, uh, streaming services in 0:14:42.680 --> 0:14:45.320 particular over the past few months. But earlier this week 0:14:45.400 --> 0:14:48.400 or last week, I finally canceled Netflix. I had been 0:14:48.440 --> 0:14:51.280 hanging onto it because I still hadn't finished stranger things. 0:14:51.360 --> 0:14:53.760 But since I did, I was like, Okay, finally that's 0:14:53.800 --> 0:14:55.640 one I can cut. And I was paying a lot 0:14:55.720 --> 0:14:59.000 man because I was splurged on the ultra ultra high death. 0:14:59.040 --> 0:15:01.080 I bet you did fancy pants twenty bucks a month, 0:15:02.320 --> 0:15:04.400 but I was willing to pay that for a short 0:15:04.440 --> 0:15:06.920 amount of time. And so, like, we want you to 0:15:07.520 --> 0:15:10.520 have different subscriptions in your life that are bringing you 0:15:10.680 --> 0:15:12.960 value that you are aware of, but once they are 0:15:13.040 --> 0:15:15.680 not bringing you value anymore, be choosy. We want you 0:15:15.760 --> 0:15:18.000 to cut those things from your life. And like you said, Jill, 0:15:18.120 --> 0:15:21.080 being aware of those subscriptions is the first thing. And 0:15:21.240 --> 0:15:23.240 it's tough to be aware if you're not tracking your expenses, 0:15:23.280 --> 0:15:25.160 if you're not keeping up with where it is your 0:15:25.160 --> 0:15:27.800 money is going. Agreed, So all right, cut some of 0:15:27.840 --> 0:15:31.920 those sneaky, subversive subscriptions at your life, and then you'll 0:15:31.960 --> 0:15:34.280 have more money to put towards things that matter more 0:15:34.320 --> 0:15:36.520 to you. I mean, we've got more stuff to cover 0:15:37.040 --> 0:15:39.520 on the Friday flight, including getting paid to move somewhere, 0:15:39.840 --> 0:15:41.960 and we've got some tips about how to save money 0:15:42.160 --> 0:15:44.480 on car insurance. We'll get to both of those and 0:15:44.600 --> 0:15:55.680 more right after this. All right, we are back from 0:15:55.720 --> 0:15:57.400 the break, Jill, you just chease to some of the 0:15:57.400 --> 0:15:59.480 different ways to save when it comes to car insurance. 0:15:59.480 --> 0:16:02.320 We're also gonna discussed maybe what's quite possibly going to 0:16:02.400 --> 0:16:05.360 be the most affordable electric vehicle out there that a 0:16:05.520 --> 0:16:07.960 lot of people are gonna potentially be able to afford, 0:16:08.000 --> 0:16:11.080 depending on where you are in your life with your finances. 0:16:11.440 --> 0:16:14.480 But first we've got to get to our ludicrous headline 0:16:14.560 --> 0:16:18.400 of the week. We just kind of went off on subscriptions. Well, now, 0:16:18.520 --> 0:16:21.280 let's give the buy now, pay later industry some hate 0:16:21.320 --> 0:16:23.920 for a second. Here. This one comes from The Times 0:16:24.080 --> 0:16:28.280 and it reads Mary now pay later news services put 0:16:28.360 --> 0:16:31.600 weddings on installment, basically anything that you can buy. I 0:16:31.680 --> 0:16:34.160 feel like it's going to be whatever that pay later, 0:16:34.200 --> 0:16:36.440 because we did like give now pay later a few 0:16:36.480 --> 0:16:38.840 weeks ago. Makes me think of that Tommy Boy seen 0:16:38.920 --> 0:16:40.560 where he gets the office and he's sorry to his 0:16:40.720 --> 0:16:44.600 dad and he's like, I can keep six packs of here? 0:16:45.560 --> 0:16:47.320 Is that anything you want to keep cold, Tommy boy? 0:16:47.520 --> 0:16:49.720 And it's it's truly, it's like anything you want to 0:16:49.760 --> 0:16:51.680 put on a payment plan, Tommy Boy, Like, you really 0:16:51.720 --> 0:16:54.280 can't anything that you can spend money on. You could 0:16:54.320 --> 0:16:58.560 do it. Uh later this new upstart called Marou I 0:16:58.600 --> 0:17:00.440 guess that's how you say. It's m A r oo. 0:17:01.160 --> 0:17:03.840 They are allowing folks to pay for their wedding services 0:17:04.040 --> 0:17:07.320 over time. Uh, and the average cost of a wedding 0:17:07.400 --> 0:17:10.000 is is closing in on and so because of that, like, 0:17:10.080 --> 0:17:12.480 I get the temptation, I get the desire to want 0:17:12.560 --> 0:17:15.520 to defer some of that pain, uh of all that 0:17:15.600 --> 0:17:17.960 money leaving your account, But you also don't want to 0:17:18.000 --> 0:17:21.280 start off your new life of wedded bliss deep in 0:17:21.320 --> 0:17:24.000 a debt hole. You know, Like, it's not even that 0:17:24.080 --> 0:17:25.920 we're like, we're not again spending a lot of money 0:17:25.960 --> 0:17:28.280 on your wedding day. It's it's a party worth splurging on. 0:17:28.640 --> 0:17:31.359 And I would honestly even be okay with folks doing 0:17:31.440 --> 0:17:34.159 this if they were paying for it and making the 0:17:34.200 --> 0:17:36.920 payments on the front end, because that's traditionally how it worked. 0:17:37.240 --> 0:17:39.639 You book a vendor, you put down a deposit, and 0:17:39.720 --> 0:17:41.760 then typically on the day of the wedding, so like 0:17:41.920 --> 0:17:44.800 before things even really kick off, you pay the balance. 0:17:45.080 --> 0:17:47.960 And so if this is just like a new fintech 0:17:48.119 --> 0:17:50.800 type way for you to accomplish this, I'm all for that. 0:17:51.240 --> 0:17:54.160 But but this is delaying those payments exactly year after 0:17:54.280 --> 0:17:57.159 your wedding. And that's the problem because the truth is 0:17:57.160 --> 0:17:59.639 is that by not pay later, it allows and actually 0:17:59.720 --> 0:18:02.399 kind of like prods people to spend more than the 0:18:02.480 --> 0:18:05.760 otherwise would. And so not only is it a delayed payment, 0:18:05.800 --> 0:18:09.280 they're also putting more, they're spending more on their wedding. 0:18:09.560 --> 0:18:12.080 Uh STA show that folks often spend more than the 0:18:12.119 --> 0:18:14.240 otherwise would. If by now, pay later is offered at 0:18:14.320 --> 0:18:17.960 checkout in retail scenarios, is typically like thirty to fifty more. 0:18:18.200 --> 0:18:20.680 I've got to think that with weddings it's probably something 0:18:20.760 --> 0:18:23.560 really similar And so, yeah, it might sound old school, 0:18:23.720 --> 0:18:26.639 but just finding ways to cut costs and save more 0:18:26.720 --> 0:18:28.600 money on the front, and we think that that is 0:18:28.680 --> 0:18:32.280 a much better move than utilizing the buy now, pay 0:18:32.359 --> 0:18:34.400 later industry. That's right, Yeah, I mean I think we're 0:18:34.400 --> 0:18:36.520 gonna see a lot of people who if you're paying 0:18:36.560 --> 0:18:38.520 it out over the year after that. Yeah, if if 0:18:38.560 --> 0:18:40.600 you're if you can pay something out over twelve months, 0:18:40.600 --> 0:18:43.359 you're typically going to get the nicer food choice or 0:18:44.000 --> 0:18:46.720 the more experienced photographer or whatever. That you're just gonna 0:18:46.760 --> 0:18:48.679 opt for nicer stuff if you don't have to come 0:18:48.760 --> 0:18:50.720 up with the cash on the front end, and you 0:18:50.800 --> 0:18:53.480 might be able to rationalize it's saying that it's you know, 0:18:54.080 --> 0:18:56.080 one of the most important days of your life. But 0:18:56.440 --> 0:18:58.320 you can rationalize a lot of things, a lot of 0:18:58.400 --> 0:19:00.359 doing a lot of things with that sort of mentality, 0:19:00.640 --> 0:19:02.200