1 00:00:00,080 --> 00:00:02,960 Speaker 1: Welcome to How the Money. I'm Joel and I and Matt's. 2 00:00:03,080 --> 00:00:06,000 Speaker 1: Today we're discussing shrinking your mortgage payment, what to do 3 00:00:06,160 --> 00:00:28,760 Speaker 1: with expiring travel vouchers, and free food. Oh, free food. 4 00:00:28,760 --> 00:00:31,800 Speaker 1: Who doesn't want freeze food? It makes it takes me 5 00:00:31,840 --> 00:00:33,440 Speaker 1: back to college when I signed up for a credit 6 00:00:33,479 --> 00:00:36,640 Speaker 1: card you get that free pizza. But we'll talk about 7 00:00:36,680 --> 00:00:37,879 Speaker 1: that here in a little bit. But this is our 8 00:00:37,920 --> 00:00:40,600 Speaker 1: Friday Flight episode where yeah, we break down some of 9 00:00:40,600 --> 00:00:42,479 Speaker 1: the different stories that we saw in the news this 10 00:00:42,520 --> 00:00:46,000 Speaker 1: week and specifically discuss how it pertains to our money, 11 00:00:46,080 --> 00:00:48,440 Speaker 1: our personal finances. I'm excited to get to all of 12 00:00:48,440 --> 00:00:50,600 Speaker 1: our stories today, Joel. All right, before we get to that, 13 00:00:50,640 --> 00:00:53,159 Speaker 1: I got a frugal or cheap for you. Um, I 14 00:00:53,200 --> 00:00:56,400 Speaker 1: love fugler cheese. There's actually another one that we're gonna 15 00:00:56,400 --> 00:00:58,080 Speaker 1: talk about later later on in the episode two. But 16 00:00:58,120 --> 00:01:01,320 Speaker 1: this one is a personal one because on Disney Plus 17 00:01:01,400 --> 00:01:04,120 Speaker 1: there's a Newish movie that they've got right now called 18 00:01:04,319 --> 00:01:08,440 Speaker 1: Maya and the Last Dragon. Was it is it Riya Riyah? 19 00:01:08,480 --> 00:01:12,600 Speaker 1: That's right, that's right, Maya, the be Riya and the Dragon. Okay, okay, 20 00:01:12,640 --> 00:01:15,120 Speaker 1: So the b back in the day, I don't think so. 21 00:01:15,280 --> 00:01:17,959 Speaker 1: It's like a kids, you know cartoon. She's a bee, 22 00:01:18,000 --> 00:01:19,759 Speaker 1: she flies around. I don't think ever watched that one, 23 00:01:19,800 --> 00:01:22,720 Speaker 1: maya the b but if that one's free, I'll watch 24 00:01:22,760 --> 00:01:25,640 Speaker 1: that one instead. Because this one, because the dragon, this 25 00:01:25,720 --> 00:01:29,800 Speaker 1: was thirty bucks man, that's what Disney on Disney Plus, Yeah, 26 00:01:29,800 --> 00:01:31,520 Speaker 1: that's what they're trying to charge for this new flick. 27 00:01:31,720 --> 00:01:34,160 Speaker 1: And uh so, yeah, my girls, they you know, they're 28 00:01:34,160 --> 00:01:36,000 Speaker 1: flipping around Disney Plus and they see this when they're like, 29 00:01:36,040 --> 00:01:38,200 Speaker 1: this looks cool, Dad, can we watch this one? And 30 00:01:38,240 --> 00:01:42,640 Speaker 1: I'm like, no, that costs thirty dollars and uh so, yeah, 31 00:01:42,640 --> 00:01:44,759 Speaker 1: am I being And they're like, Dad, it's not being cheap. 32 00:01:45,920 --> 00:01:47,680 Speaker 1: I mean they really, they really do want to watch it. 33 00:01:47,920 --> 00:01:49,360 Speaker 1: And uh you know, we get to ninety four and 34 00:01:49,400 --> 00:01:51,720 Speaker 1: Rotten Tomatoes, so you know, I'm like, all right, it's 35 00:01:51,760 --> 00:01:55,040 Speaker 1: probably it's probably a decent movie. Critics or audience. I 36 00:01:55,040 --> 00:01:57,240 Speaker 1: think that was the critics. Yeah, oh wow, so yeah, 37 00:01:57,360 --> 00:01:59,200 Speaker 1: nicely reviewed. But I think it's gonna have to get 38 00:01:59,240 --> 00:02:01,480 Speaker 1: like a ninety three for me to be able to 39 00:02:01,840 --> 00:02:04,280 Speaker 1: spend thirty bucks on it. But yeah, so so I 40 00:02:04,360 --> 00:02:06,320 Speaker 1: basically shut them down, And you know, I told him. 41 00:02:06,360 --> 00:02:07,920 Speaker 1: If they want to pay their own money, they can, 42 00:02:08,000 --> 00:02:10,040 Speaker 1: But that's a lot of money for these two little girls. 43 00:02:10,040 --> 00:02:12,480 Speaker 1: This crounge up. So what you're taking on being frugal? 44 00:02:12,520 --> 00:02:15,480 Speaker 1: Am I being cheap by avoiding the thirty dollar movie? Dude, 45 00:02:15,480 --> 00:02:17,280 Speaker 1: there's no way that we would we would pay that, 46 00:02:17,440 --> 00:02:19,320 Speaker 1: I mean thirty bucks. Maybe if our girls, all of 47 00:02:19,360 --> 00:02:21,799 Speaker 1: our girls got together and pull their money together, maybe 48 00:02:21,800 --> 00:02:23,360 Speaker 1: they could they could rent it for the thirty dollars. 49 00:02:23,400 --> 00:02:25,320 Speaker 1: But that's just a lot of money for a rental, 50 00:02:25,480 --> 00:02:28,280 Speaker 1: you know, like a few bucks. Sure, I'll spend personally, 51 00:02:28,320 --> 00:02:30,000 Speaker 1: I'll spend a few bucks for a rental. Like it 52 00:02:30,040 --> 00:02:32,079 Speaker 1: makes me think of just like running a movie back 53 00:02:32,080 --> 00:02:34,080 Speaker 1: in the day from red Box, you know, like that's 54 00:02:34,520 --> 00:02:36,360 Speaker 1: it's it's something that you can stomach. And we actually 55 00:02:36,400 --> 00:02:38,480 Speaker 1: rent into some movies recently. I mean we we rented 56 00:02:38,520 --> 00:02:40,200 Speaker 1: all the Hobbit movies, right, you know, so we read 57 00:02:40,200 --> 00:02:42,040 Speaker 1: through the story instead. The girls were kind of like, 58 00:02:42,240 --> 00:02:44,200 Speaker 1: we're we actually kind of pushed the envelope as to 59 00:02:44,200 --> 00:02:46,080 Speaker 1: whether or not these are movies that they could handle, 60 00:02:46,440 --> 00:02:48,119 Speaker 1: that they could watch because it was a little more 61 00:02:48,240 --> 00:02:50,600 Speaker 1: grown up ish. But we rented those and I was 62 00:02:50,600 --> 00:02:52,680 Speaker 1: happy to do that, but yeah, thirty dollars for a 63 00:02:52,760 --> 00:02:54,720 Speaker 1: single movie. So yeah, I think I'm gonna have to 64 00:02:54,720 --> 00:02:56,600 Speaker 1: side with you, dude. It is a frugal move, in 65 00:02:56,639 --> 00:02:58,400 Speaker 1: my opinion, not a cheap move. Al Right, Well, if 66 00:02:58,400 --> 00:02:59,919 Speaker 1: they push back too hard on me, I'm gonna send 67 00:03:00,040 --> 00:03:03,080 Speaker 1: your way and make you explain it to them. Thirty 68 00:03:03,080 --> 00:03:05,840 Speaker 1: dollars way too much money, it is. It's I understand, 69 00:03:05,880 --> 00:03:09,000 Speaker 1: like obviously with with movie theaters being shut down. Yes, yeah, 70 00:03:09,160 --> 00:03:11,400 Speaker 1: that's why it's happened exactly, And I understand that it's 71 00:03:11,400 --> 00:03:12,760 Speaker 1: a new movie and they need to make their money. 72 00:03:12,800 --> 00:03:14,360 Speaker 1: And some people are going to spend that. That's fine. 73 00:03:14,600 --> 00:03:16,560 Speaker 1: I'm just not going to be one of them. Yeah, 74 00:03:16,560 --> 00:03:18,639 Speaker 1: it's one thing to compete with rentals, because if you 75 00:03:18,680 --> 00:03:20,120 Speaker 1: if you look at it from a rental standpoint, it's 76 00:03:20,120 --> 00:03:21,480 Speaker 1: way too much money. But if you compare it to 77 00:03:21,600 --> 00:03:23,760 Speaker 1: taking the whole family to go and see a movie, well, 78 00:03:23,800 --> 00:03:26,240 Speaker 1: thirty bucks actually kind of seems like a deal. It 79 00:03:26,240 --> 00:03:28,079 Speaker 1: seems like a bargain. And if that's the market they're 80 00:03:28,080 --> 00:03:30,120 Speaker 1: trying to tap into, I understand it. It It makes sense, 81 00:03:30,680 --> 00:03:32,480 Speaker 1: and I might even be willing to if it was 82 00:03:32,680 --> 00:03:34,720 Speaker 1: like a story or something that the girls already knew 83 00:03:34,920 --> 00:03:37,000 Speaker 1: where they're just something that they're looking forward to. But 84 00:03:37,200 --> 00:03:38,520 Speaker 1: you know, if you're just sitting there kind of flipping 85 00:03:38,520 --> 00:03:40,920 Speaker 1: through Disney Plus looking for something new to watch, that's 86 00:03:40,960 --> 00:03:42,680 Speaker 1: not the kind of mindset that I would be willing 87 00:03:42,720 --> 00:03:45,360 Speaker 1: to pay thirty bucks just to have some entertainment. All right, Well, 88 00:03:45,440 --> 00:03:47,560 Speaker 1: well let's move on, Matt to the Friday flight the 89 00:03:47,560 --> 00:03:50,240 Speaker 1: sampling stories we found interesting this week. Let's talk about 90 00:03:50,280 --> 00:03:53,840 Speaker 1: freebees right now, real quick, and free food. Let's launch 91 00:03:53,880 --> 00:03:56,800 Speaker 1: into it. Let's get it so. Participating Crispy Cream locations 92 00:03:56,800 --> 00:03:59,680 Speaker 1: will give you a free donut every day for the 93 00:03:59,680 --> 00:04:03,480 Speaker 1: rest of the year if you've been vaccinated, and since 94 00:04:03,520 --> 00:04:06,760 Speaker 1: Georgia just opened up vaccines to everyone as of yesterday, 95 00:04:07,000 --> 00:04:09,560 Speaker 1: looks like we could score a bunch of redonuts. Buddy. Yeah, 96 00:04:09,720 --> 00:04:11,880 Speaker 1: it's too bad that the closest Krispy Creme to our house, 97 00:04:12,280 --> 00:04:14,360 Speaker 1: which is the historical one that's actually owned by Shack 98 00:04:15,160 --> 00:04:18,520 Speaker 1: Shaquille o'neili yea, Yeah, it burned down last month, and 99 00:04:18,560 --> 00:04:21,440 Speaker 1: so that's a huge bummer because dude, we've talked about 100 00:04:21,440 --> 00:04:24,000 Speaker 1: this on the show before, but Krispy Kream way better 101 00:04:24,120 --> 00:04:27,200 Speaker 1: than Dunkin Donuts. That was a great location. Yeah, I 102 00:04:27,200 --> 00:04:28,680 Speaker 1: didn't even know what burned down until you told me, 103 00:04:28,680 --> 00:04:29,919 Speaker 1: and that made me really sad. Yeah, it was. It 104 00:04:29,960 --> 00:04:32,760 Speaker 1: was in the news, and actually I think the reports, 105 00:04:32,839 --> 00:04:35,839 Speaker 1: you know, the investigation showed that it was arson. So somebody, 106 00:04:36,000 --> 00:04:41,080 Speaker 1: presumably Duncan Donuts fan, maybe was upset about Chrispy Cream. 107 00:04:41,080 --> 00:04:42,520 Speaker 1: I don't know, but I can't be somebody with a 108 00:04:42,600 --> 00:04:45,520 Speaker 1: vendetta agains Shack because nobody dislikes Shack. That guy's the man. 109 00:04:45,600 --> 00:04:47,440 Speaker 1: He is the greatest man. It makes me think of 110 00:04:48,279 --> 00:04:49,880 Speaker 1: when he was on Sports Center and he fell off 111 00:04:49,880 --> 00:04:54,120 Speaker 1: the stage. Remember that video, Oh dude, I'll share with you, 112 00:04:54,160 --> 00:04:56,320 Speaker 1: We'll share with our listeners, will post it so funny. 113 00:04:56,320 --> 00:04:57,880 Speaker 1: He like stood up and got tripped up on the 114 00:04:57,880 --> 00:05:00,240 Speaker 1: cords under the desk when big guys fall that it 115 00:05:00,480 --> 00:05:03,320 Speaker 1: ain't pretty, dude. Shack came up out with a rap 116 00:05:03,400 --> 00:05:05,720 Speaker 1: album when we were in middle school and I totally 117 00:05:05,720 --> 00:05:07,800 Speaker 1: bought it, and he also had a video game. Like 118 00:05:07,800 --> 00:05:10,680 Speaker 1: I'm a huge Shack fan. So also to Matt, there's 119 00:05:10,760 --> 00:05:14,320 Speaker 1: a brewery in Ohio Market Garden that's giving away almost 120 00:05:14,400 --> 00:05:16,840 Speaker 1: free beer, well not free, but ten cents a beer 121 00:05:16,880 --> 00:05:20,880 Speaker 1: for the first two thousand one vaccinated folks that enter 122 00:05:21,000 --> 00:05:23,480 Speaker 1: the facility. So I would think we're gonna see more 123 00:05:23,520 --> 00:05:26,360 Speaker 1: of these like promos for people who get vaccinated. Um, 124 00:05:26,400 --> 00:05:28,480 Speaker 1: and so yeah, keep your eyes peeled for free stuff 125 00:05:28,520 --> 00:05:29,880 Speaker 1: out there, you know, once you once you get the 126 00:05:29,960 --> 00:05:31,800 Speaker 1: jab in the arm. Yeah, I'm all about that. And 127 00:05:31,839 --> 00:05:34,240 Speaker 1: you know, let's stick with a free free stuff theme 128 00:05:34,279 --> 00:05:36,440 Speaker 1: here for a second, and let's do another frigul or 129 00:05:36,520 --> 00:05:38,599 Speaker 1: cheap Would you Joel? Would you change your name to 130 00:05:39,040 --> 00:05:41,880 Speaker 1: salmon or for it to include salmon in order to 131 00:05:41,880 --> 00:05:44,760 Speaker 1: to score some free food. It depends on how much 132 00:05:44,760 --> 00:05:47,000 Speaker 1: free food, because I would change my name if it 133 00:05:47,040 --> 00:05:49,440 Speaker 1: was like unlimited free barbecue from my favorite local spot. 134 00:05:49,480 --> 00:05:51,440 Speaker 1: Oh my gosh, like I think I would. Yeah, I would. 135 00:05:51,480 --> 00:05:52,960 Speaker 1: I definitely would do that. I would change my name 136 00:05:53,000 --> 00:05:55,360 Speaker 1: to Susanne or anything like. It doesn't matter, like even 137 00:05:55,400 --> 00:05:57,440 Speaker 1: just one free meal a month for the rest of 138 00:05:57,440 --> 00:06:00,760 Speaker 1: your life. I would totally include risk it in my 139 00:06:00,839 --> 00:06:04,239 Speaker 1: name or pork or something like that. Well, that's actually 140 00:06:04,279 --> 00:06:07,039 Speaker 1: what folks in Taiwan have been doing. A hundred and 141 00:06:07,040 --> 00:06:09,400 Speaker 1: fifty people have changed their name to take advantage of 142 00:06:09,400 --> 00:06:12,279 Speaker 1: a free sushi promotion that this, uh, this small restaurant 143 00:06:12,400 --> 00:06:16,240 Speaker 1: chain launched basically, if your name has salmon in it, 144 00:06:16,720 --> 00:06:18,920 Speaker 1: you get in all you can eat sushi meal with 145 00:06:19,120 --> 00:06:22,320 Speaker 1: five of your friends and say, some government officials were 146 00:06:22,680 --> 00:06:25,960 Speaker 1: none too happy with the barrage of name change requests 147 00:06:26,000 --> 00:06:29,000 Speaker 1: that they received. But yeah, this is a total frugal 148 00:06:29,120 --> 00:06:31,480 Speaker 1: or cheap question for folks out there. I think if 149 00:06:31,640 --> 00:06:33,920 Speaker 1: I was younger, I would totally do it, Like if 150 00:06:33,920 --> 00:06:35,479 Speaker 1: I was in college, Like it takes me back to 151 00:06:35,520 --> 00:06:37,120 Speaker 1: it makes me think about like signing up for a 152 00:06:37,120 --> 00:06:39,320 Speaker 1: credit card and getting a free pizza a credit card, 153 00:06:39,360 --> 00:06:41,360 Speaker 1: by the way, which I handled responsibly even back then 154 00:06:41,400 --> 00:06:42,800 Speaker 1: in college. I was I knew that was money I 155 00:06:42,839 --> 00:06:44,359 Speaker 1: was gonna have to pay back at some point. But 156 00:06:44,480 --> 00:06:46,360 Speaker 1: if I was in college and they're like, hey, we're 157 00:06:46,400 --> 00:06:48,680 Speaker 1: running this promotion if you legally change your name to 158 00:06:48,720 --> 00:06:51,159 Speaker 1: include something, I totally would do it. But now you know, 159 00:06:51,200 --> 00:06:53,120 Speaker 1: now that I'm a bona fide grown up, Like I 160 00:06:53,360 --> 00:06:54,880 Speaker 1: don't know the time for that, dude. Yeah, like it 161 00:06:55,120 --> 00:06:56,840 Speaker 1: like it's still a lot of hassle to change your name. 162 00:06:56,880 --> 00:06:58,640 Speaker 1: Like you said, if it was a recurring free meal, 163 00:06:58,800 --> 00:07:01,840 Speaker 1: it was like one a week for years to come 164 00:07:02,040 --> 00:07:04,159 Speaker 1: I'd be like, yeah, I'd be more likely to consider it. 165 00:07:04,440 --> 00:07:06,440 Speaker 1: But if it's like one time, one time only, I'm 166 00:07:06,480 --> 00:07:07,680 Speaker 1: not changing my name for that. I'm not going to 167 00:07:07,720 --> 00:07:11,280 Speaker 1: do that. Too much work for so little reward for me. Yeah, exactly. 168 00:07:11,320 --> 00:07:13,280 Speaker 1: All right, Well, let's move on that. There are a 169 00:07:13,320 --> 00:07:15,320 Speaker 1: lot of people that are trying to figure out what 170 00:07:15,360 --> 00:07:18,560 Speaker 1: they do with expiring travel vouchers. Right that. There were 171 00:07:18,560 --> 00:07:21,280 Speaker 1: a lot of travel vouchers given out last year in 172 00:07:21,400 --> 00:07:24,440 Speaker 1: the spring and the summer for folks who weren't going 173 00:07:24,480 --> 00:07:26,880 Speaker 1: to be able to take their trip like normal. And 174 00:07:26,920 --> 00:07:30,360 Speaker 1: there are billions of dollars and vouchers, and the expiration 175 00:07:30,920 --> 00:07:33,920 Speaker 1: date on those vouchers is quickly approaching, and so a 176 00:07:33,920 --> 00:07:36,000 Speaker 1: lot of folks just aren't sure what to do, especially 177 00:07:36,040 --> 00:07:39,000 Speaker 1: if they're still uncomfortable traveling. And that was a subject 178 00:07:39,080 --> 00:07:41,400 Speaker 1: that the Wall Street Journal covered this week. Some of 179 00:07:41,440 --> 00:07:44,200 Speaker 1: the airlines are working with folks and they're extending the 180 00:07:44,240 --> 00:07:47,360 Speaker 1: expiration date on those travel vouchers, which is nice. Other 181 00:07:47,440 --> 00:07:50,880 Speaker 1: airlines are even refunding them for the value of the voucher, 182 00:07:50,960 --> 00:07:53,960 Speaker 1: like giving cash instead of making you keep that voucher 183 00:07:54,000 --> 00:07:56,840 Speaker 1: to travel, very nice, which is incredibly generous and and 184 00:07:56,920 --> 00:08:00,280 Speaker 1: others though, aren't being so kind, which means if you 185 00:08:00,360 --> 00:08:03,120 Speaker 1: have one of those soon to be useless vouchers, you 186 00:08:03,200 --> 00:08:05,480 Speaker 1: really need to stand up for yourself and and you 187 00:08:05,520 --> 00:08:07,720 Speaker 1: need to push back if you're being stone walled by 188 00:08:07,800 --> 00:08:09,320 Speaker 1: by one of the airlines. Yeah, yeah, the best thing 189 00:08:09,320 --> 00:08:11,720 Speaker 1: you can do is is call customer service directly as 190 00:08:11,840 --> 00:08:14,560 Speaker 1: kindly you can, you know, detail the circumstances for why 191 00:08:14,640 --> 00:08:17,360 Speaker 1: maybe you still aren't comfortable traveling or you know, why 192 00:08:17,400 --> 00:08:20,560 Speaker 1: maybe that you're completely unable to as you know, like 193 00:08:20,560 --> 00:08:22,680 Speaker 1: a lot of countries, like you can't actually fly into 194 00:08:22,680 --> 00:08:25,200 Speaker 1: some you know, different countries. A lot of countries still 195 00:08:25,240 --> 00:08:27,920 Speaker 1: won't allow Americans to visit exactly. And you can also 196 00:08:27,920 --> 00:08:30,760 Speaker 1: fill out a complaint form with the Department of Transportation 197 00:08:30,880 --> 00:08:33,760 Speaker 1: if the airline that you're having an issue with won't budge. 198 00:08:34,360 --> 00:08:36,040 Speaker 1: It's it's not fun to deal with, you know, some 199 00:08:36,080 --> 00:08:39,240 Speaker 1: of these major airline customer service divisions much of the time. 200 00:08:39,280 --> 00:08:42,000 Speaker 1: But you know, don't let that initial know get you down. 201 00:08:42,000 --> 00:08:43,920 Speaker 1: Just keep pressing until they make things right. And another 202 00:08:44,000 --> 00:08:45,480 Speaker 1: sort of easy path to take two is if you 203 00:08:45,480 --> 00:08:47,640 Speaker 1: know you're thinking about traveling anyway, go ahead and book 204 00:08:47,640 --> 00:08:49,200 Speaker 1: that travel, but just make sure that you're aware of 205 00:08:49,200 --> 00:08:52,360 Speaker 1: the terms. Make sure the expiration of those vouchers. Uh, 206 00:08:52,600 --> 00:08:55,360 Speaker 1: doesn't mean that you have to travel by that date. Obviously, 207 00:08:55,400 --> 00:08:57,800 Speaker 1: if you have to book before that expiration date, that 208 00:08:57,840 --> 00:08:59,680 Speaker 1: might be a little bit easier than to book and 209 00:08:59,679 --> 00:09:03,040 Speaker 1: then a really have to physically travel before that expiration date. Yeah, 210 00:09:02,760 --> 00:09:04,439 Speaker 1: you know, the terms, if they can at least be 211 00:09:04,520 --> 00:09:06,160 Speaker 1: flexible on that, that can allow you to book a 212 00:09:06,200 --> 00:09:09,680 Speaker 1: trip that's you know, months in the future, later this summer, yeah, yeah, exactly, 213 00:09:09,880 --> 00:09:11,360 Speaker 1: or in the fall, and a lot of folks are 214 00:09:11,360 --> 00:09:13,400 Speaker 1: gonna feel more comfortable traveling then, of course, and they're 215 00:09:13,400 --> 00:09:17,920 Speaker 1: gonna be a lot more destinations hopefully open to Americans 216 00:09:17,920 --> 00:09:21,400 Speaker 1: traveling by August September. I'm sure, alright, maw. Let's talk 217 00:09:21,400 --> 00:09:24,080 Speaker 1: about real estate a little bit. We upset some of 218 00:09:24,080 --> 00:09:26,360 Speaker 1: our real estate agent listeners the other day. A couple 219 00:09:26,360 --> 00:09:28,760 Speaker 1: of weeks ago, we discussed what you and I believe 220 00:09:28,840 --> 00:09:31,800 Speaker 1: is a need for clearer compensation methods in the industry. 221 00:09:32,120 --> 00:09:35,640 Speaker 1: The traditional three percent to each agent model just isn't 222 00:09:35,679 --> 00:09:38,480 Speaker 1: in the best interest of consumers and and stats show 223 00:09:38,880 --> 00:09:40,720 Speaker 1: that there are a lot of buyers who have no 224 00:09:40,800 --> 00:09:44,920 Speaker 1: idea how their agent is compensated, and really, in what 225 00:09:45,040 --> 00:09:47,720 Speaker 1: other industry besides healthcare, is that the case where you 226 00:09:47,800 --> 00:09:50,640 Speaker 1: don't know the amount of money you're forking over for 227 00:09:50,679 --> 00:09:53,280 Speaker 1: the service you're getting. You know, we talked about sites 228 00:09:53,320 --> 00:09:55,320 Speaker 1: like red fin that are starting to make realtor pay 229 00:09:55,440 --> 00:09:58,480 Speaker 1: more transparent, which I really appreciate. I think it's really helpful, 230 00:09:58,640 --> 00:10:01,280 Speaker 1: and I think we're gonna see more and more transparency 231 00:10:01,360 --> 00:10:04,439 Speaker 1: happening in the real estate industry. There's another website I 232 00:10:04,480 --> 00:10:06,800 Speaker 1: stumbled upon recently. I think I actually got a mailer 233 00:10:06,840 --> 00:10:08,880 Speaker 1: in my mailbox and I was like, what's this. It's 234 00:10:08,920 --> 00:10:11,800 Speaker 1: called list with clever dot com. It's another site that's 235 00:10:11,800 --> 00:10:14,440 Speaker 1: trying to lower the costs of buying and selling at home. 236 00:10:14,920 --> 00:10:17,240 Speaker 1: And to Matt there was an interesting stat in the 237 00:10:17,240 --> 00:10:19,319 Speaker 1: Wall Street Journal this week. It turns out that there 238 00:10:19,320 --> 00:10:23,120 Speaker 1: are more realtors then there were homes listed in January. 239 00:10:23,400 --> 00:10:26,240 Speaker 1: So the interesting thing is that there's there's a lot 240 00:10:26,280 --> 00:10:29,240 Speaker 1: of realtors, many of which have their license, but they're 241 00:10:29,280 --> 00:10:31,240 Speaker 1: just not really getting much work. It's kind of a 242 00:10:31,280 --> 00:10:33,640 Speaker 1: tough industry to be in right as an agent. At 243 00:10:33,640 --> 00:10:35,800 Speaker 1: the end of January, there were about one million homes 244 00:10:35,800 --> 00:10:39,199 Speaker 1: listened for sale and almost one point five million realtors, 245 00:10:39,679 --> 00:10:42,240 Speaker 1: which is crazy. Yeah, and there just aren't enough homes 246 00:10:42,240 --> 00:10:43,520 Speaker 1: out there on the market, you know, for all these 247 00:10:43,559 --> 00:10:45,240 Speaker 1: agents out there to get a piece of the pie. 248 00:10:45,600 --> 00:10:47,400 Speaker 1: And the thing is too, most of the profits in 249 00:10:47,440 --> 00:10:50,360 Speaker 1: real estate are going to a small number of agents. 250 00:10:50,400 --> 00:10:52,720 Speaker 1: You know, if you thought about becoming an agent, like you, 251 00:10:52,720 --> 00:10:54,719 Speaker 1: you might want to reconsider it because you know, as 252 00:10:54,720 --> 00:10:56,959 Speaker 1: someone high up and one of the brokerage companies put 253 00:10:57,000 --> 00:10:58,640 Speaker 1: it in that Wall Street Journal article, they said that 254 00:10:58,640 --> 00:11:00,600 Speaker 1: there is a low barrier to end tree in terms 255 00:11:00,600 --> 00:11:03,040 Speaker 1: of getting your license, you know, studying taking the test, 256 00:11:03,400 --> 00:11:06,120 Speaker 1: but the barriers to success in the field are actually 257 00:11:06,120 --> 00:11:08,440 Speaker 1: really high. We know a lot of agents out there 258 00:11:08,440 --> 00:11:10,280 Speaker 1: who stink and love their job. It's you know, they 259 00:11:10,360 --> 00:11:12,360 Speaker 1: enjoy it. They find a lot of fulfillment in it, 260 00:11:12,559 --> 00:11:14,760 Speaker 1: and I totally understand why. But you know, if you're 261 00:11:14,760 --> 00:11:16,679 Speaker 1: looking to get into the business because the barrier to 262 00:11:16,880 --> 00:11:18,600 Speaker 1: entry is low, just know that there's a lot of 263 00:11:18,640 --> 00:11:21,800 Speaker 1: work that actually goes on after the fact to make 264 00:11:21,840 --> 00:11:24,160 Speaker 1: money in the business. And you know, new agents in 265 00:11:24,200 --> 00:11:27,640 Speaker 1: particular make very little money. Uh. And with more agents 266 00:11:27,800 --> 00:11:30,680 Speaker 1: entering the field, entering the industry, it takes even more 267 00:11:30,720 --> 00:11:32,680 Speaker 1: time and even more hard work to make it in 268 00:11:32,679 --> 00:11:35,120 Speaker 1: this highly competitive business. Um. And you know, on one 269 00:11:35,160 --> 00:11:37,520 Speaker 1: hand we complain about it, but what we're also seeing 270 00:11:37,520 --> 00:11:39,760 Speaker 1: too is just kind of the natural cycle. If there's 271 00:11:39,760 --> 00:11:41,840 Speaker 1: an opportunity for folks, folks will move in that direction. 272 00:11:41,880 --> 00:11:43,840 Speaker 1: There are incentives, right, and so it's just kind of 273 00:11:43,880 --> 00:11:47,280 Speaker 1: the market forces that we're seeing here at work. The 274 00:11:47,360 --> 00:11:51,400 Speaker 1: supply was low, the demand for those realtors was high, 275 00:11:51,640 --> 00:11:53,679 Speaker 1: and so it causes a lot of realtors to to 276 00:11:53,800 --> 00:11:55,920 Speaker 1: enter the market. But as we've seen that flip, I 277 00:11:55,960 --> 00:11:57,520 Speaker 1: think it's gonna cause a lot of folks to kind 278 00:11:57,520 --> 00:11:59,920 Speaker 1: of reconsider whether that's something that they want to pursue. Yeah, 279 00:12:00,040 --> 00:12:02,480 Speaker 1: think I saw that in the first two years of 280 00:12:02,480 --> 00:12:06,640 Speaker 1: being an agent. The the average earnings is nine dollars 281 00:12:06,640 --> 00:12:09,240 Speaker 1: for an agent uh in a year, and that's it's 282 00:12:09,280 --> 00:12:11,200 Speaker 1: tough to make. It is stuff to live on on 283 00:12:11,240 --> 00:12:13,720 Speaker 1: that little money. Granted you're trying to build a business, 284 00:12:13,720 --> 00:12:15,520 Speaker 1: but just know, those first couple of years can be lean. 285 00:12:15,600 --> 00:12:17,560 Speaker 1: That can be really hard, and you're gonna have to 286 00:12:17,720 --> 00:12:20,320 Speaker 1: do a lot of work to succeed in that industry. 287 00:12:20,360 --> 00:12:23,000 Speaker 1: Although it's a fun industry, Man That's something I've always 288 00:12:23,040 --> 00:12:24,600 Speaker 1: thought about, like, that'd be that'd be fun to be 289 00:12:24,640 --> 00:12:27,520 Speaker 1: a real estate agent one because I like people like homes. 290 00:12:27,679 --> 00:12:29,480 Speaker 1: It just seems like kind of a perfect fit, something 291 00:12:29,520 --> 00:12:32,520 Speaker 1: that that I would enjoy. But um, but yeah, tough 292 00:12:32,559 --> 00:12:35,600 Speaker 1: industry for sure. Let's keep talking about real estate, though, Matt, like, 293 00:12:35,920 --> 00:12:38,960 Speaker 1: for for folks that want to shrink their monthly mortgage payment, 294 00:12:38,960 --> 00:12:41,200 Speaker 1: there's a way to do it. And and of course 295 00:12:41,240 --> 00:12:42,760 Speaker 1: I think a lot of people would be like, yeah, 296 00:12:42,800 --> 00:12:44,520 Speaker 1: I'd like to pay less, how do I do it? Well, 297 00:12:44,600 --> 00:12:47,000 Speaker 1: recasting your loan is going to be the way to 298 00:12:47,000 --> 00:12:49,600 Speaker 1: make that happen, and some people should consider doing a 299 00:12:49,640 --> 00:12:54,360 Speaker 1: recast instead of refinancing and recasting Matt doesn't get much press, 300 00:12:54,720 --> 00:12:56,760 Speaker 1: so most people don't know what it even means. But 301 00:12:56,840 --> 00:12:59,600 Speaker 1: the Washington Post just wrote an article about it this week. 302 00:13:00,120 --> 00:13:03,400 Speaker 1: We think that it makes sense for some folks. Basically, recasting, 303 00:13:03,480 --> 00:13:06,040 Speaker 1: if your lenders up for it, is when you pay 304 00:13:06,200 --> 00:13:10,840 Speaker 1: a lump sum towards your loan, your loan term doesn't change. 305 00:13:10,880 --> 00:13:12,680 Speaker 1: So let's say you have twenty years left on your mortgage. 306 00:13:12,720 --> 00:13:14,480 Speaker 1: You still have twenty years left on your mortgage. Your 307 00:13:14,520 --> 00:13:16,800 Speaker 1: interest rate doesn't change. So you're not doing a refinance, 308 00:13:17,240 --> 00:13:20,760 Speaker 1: but what changes is your monthly payment amount. So recasting 309 00:13:20,880 --> 00:13:23,880 Speaker 1: is nice if that lower payment is something that you 310 00:13:24,000 --> 00:13:26,720 Speaker 1: really really want, although it can also make sense just 311 00:13:26,760 --> 00:13:28,760 Speaker 1: to make a lumps on payment to the principle and 312 00:13:28,840 --> 00:13:31,000 Speaker 1: keep your payment the same if you can still afford it, 313 00:13:31,200 --> 00:13:33,439 Speaker 1: you'll pay off the mortgage a whole lot quicker, you'll 314 00:13:33,480 --> 00:13:35,520 Speaker 1: pay less in interest over the life of that loan. 315 00:13:35,880 --> 00:13:37,439 Speaker 1: But if a lower payment is what you're after and 316 00:13:37,480 --> 00:13:40,720 Speaker 1: you've got some extra funds on hand, ask your lender 317 00:13:40,760 --> 00:13:44,679 Speaker 1: about a recast, because typically, unlike a refinance, recasting your 318 00:13:44,720 --> 00:13:48,319 Speaker 1: loan is feet free. Yeah, the closing costs associated with 319 00:13:48,440 --> 00:13:51,360 Speaker 1: that refinance are typically what keep people from wanting to 320 00:13:51,400 --> 00:13:53,320 Speaker 1: move in that direction. Uh. And you know all of 321 00:13:53,320 --> 00:13:55,880 Speaker 1: these methods too, It's it's worth pointing out here. They 322 00:13:55,880 --> 00:13:58,160 Speaker 1: assume that paying off your mortgage is a top priority 323 00:13:58,360 --> 00:14:01,600 Speaker 1: when you have extra cash on hand, and especially man, 324 00:14:01,640 --> 00:14:04,200 Speaker 1: you know, given the insanely low rate environment that we're in, 325 00:14:04,480 --> 00:14:08,440 Speaker 1: aggressively paying off the loan on your home is you know, 326 00:14:08,480 --> 00:14:10,200 Speaker 1: we think for most people not the best way to 327 00:14:10,280 --> 00:14:14,160 Speaker 1: handle extra cash on hand, and so instead we'd recommend 328 00:14:14,200 --> 00:14:16,440 Speaker 1: for folks to invest more for your future in tax 329 00:14:16,480 --> 00:14:19,640 Speaker 1: advantaged accounts. Uh, that can often be better, you know, 330 00:14:19,680 --> 00:14:21,720 Speaker 1: for the tax break that you get now, but as 331 00:14:21,720 --> 00:14:24,280 Speaker 1: well for your future returns that you're gonna experience over 332 00:14:24,320 --> 00:14:27,360 Speaker 1: the decades. I know some folks want to try to 333 00:14:27,400 --> 00:14:30,200 Speaker 1: eliminate their mortgages as quickly as possible, more from an 334 00:14:30,200 --> 00:14:33,480 Speaker 1: emotional standpoint. But again, especially because rates are so low, 335 00:14:33,760 --> 00:14:36,440 Speaker 1: it is worth actually looking at the numbers, crunching, you know, 336 00:14:36,480 --> 00:14:38,800 Speaker 1: doing the math, figuring out you know, where it makes 337 00:14:38,840 --> 00:14:41,720 Speaker 1: the most sense and where you should be putting that money. Yeah, 338 00:14:41,720 --> 00:14:45,280 Speaker 1: so recasting is an interesting consideration. Uh, just paying more 339 00:14:45,640 --> 00:14:48,080 Speaker 1: towards your mortgage and paying it off more quickly is 340 00:14:48,080 --> 00:14:49,800 Speaker 1: an interesting con generation. But I agree with you, Matt. 341 00:14:49,840 --> 00:14:52,440 Speaker 1: I think that it is more of a low priority. 342 00:14:52,480 --> 00:14:53,880 Speaker 1: And that's what we talked about in our money Gears 343 00:14:53,880 --> 00:14:56,560 Speaker 1: episode I think that was episode three oh two. Is 344 00:14:56,560 --> 00:14:59,520 Speaker 1: really something that is only of importance once you get 345 00:14:59,600 --> 00:15:02,360 Speaker 1: into like year seven, once you're really really ramped up 346 00:15:02,400 --> 00:15:05,320 Speaker 1: and you're doing a great job investing, you have like 347 00:15:05,400 --> 00:15:07,760 Speaker 1: no debts. A lot of people do prioritize paying off 348 00:15:07,760 --> 00:15:10,040 Speaker 1: that mortgage, and and they do it wrongly. That's right, man, 349 00:15:10,360 --> 00:15:12,520 Speaker 1: We've got several more stories that we're gonna get to 350 00:15:12,680 --> 00:15:15,320 Speaker 1: right after the break, including one about some additional student 351 00:15:15,360 --> 00:15:17,360 Speaker 1: loan forgiveness. We'll get to that one plus a couple 352 00:15:17,400 --> 00:15:29,040 Speaker 1: others right after this. All right, it's Friday flight Day. 353 00:15:29,080 --> 00:15:31,640 Speaker 1: We got more stories to get to. And yeah, there's 354 00:15:31,640 --> 00:15:33,960 Speaker 1: a lot of stuff in the news and it impacts 355 00:15:33,960 --> 00:15:36,560 Speaker 1: your money amount. We like to take a ludicrous headline 356 00:15:36,600 --> 00:15:38,200 Speaker 1: of the week, It's right, we forgot to even tease 357 00:15:38,200 --> 00:15:40,000 Speaker 1: to every single week. Well, this one's interesting and this 358 00:15:40,040 --> 00:15:42,040 Speaker 1: one a listener sent this one our way, so and 359 00:15:42,080 --> 00:15:44,080 Speaker 1: by the way, we we like to do a ludicrous 360 00:15:44,080 --> 00:15:45,840 Speaker 1: headline of the week every Friday. And if you come 361 00:15:45,880 --> 00:15:49,360 Speaker 1: across just an interesting financial headline, something that seems a 362 00:15:49,400 --> 00:15:51,920 Speaker 1: little whacka doodle, something crazy, send it our way how 363 00:15:51,920 --> 00:15:54,160 Speaker 1: to money pot at gmail dot com and hopefully we'll 364 00:15:54,160 --> 00:15:56,480 Speaker 1: include it in next week's Friday Flight. This one came 365 00:15:56,520 --> 00:15:59,640 Speaker 1: from listener Gary and the headline is from the BBC. 366 00:16:00,040 --> 00:16:04,080 Speaker 1: It says fake Elon Musk giveaway scam costs man fo 367 00:16:04,280 --> 00:16:07,320 Speaker 1: euro and it's just a really sad story actually of 368 00:16:07,320 --> 00:16:10,040 Speaker 1: a guy losing a ton of money by following a 369 00:16:10,120 --> 00:16:14,240 Speaker 1: link from a fake Elon Musk Twitter account that actually 370 00:16:14,280 --> 00:16:17,160 Speaker 1: replied to a legit Elon Musk post. So the guy 371 00:16:17,200 --> 00:16:19,640 Speaker 1: had like the same thumbnail image, and so it looked 372 00:16:19,640 --> 00:16:22,640 Speaker 1: if you didn't see the at user name, it looked 373 00:16:22,640 --> 00:16:24,240 Speaker 1: like it was Elon Musk applying to his own. It 374 00:16:24,280 --> 00:16:26,720 Speaker 1: was like go here and you know, check out free. 375 00:16:26,840 --> 00:16:28,560 Speaker 1: You can get some free bitcoin if you click on 376 00:16:28,560 --> 00:16:31,040 Speaker 1: this link. Yeah, that's that's definitely attacted because you see 377 00:16:31,040 --> 00:16:33,760 Speaker 1: the initial you know, tweet by somebody to say like 378 00:16:33,800 --> 00:16:35,800 Speaker 1: Elon Musk, and it's got the blue checkmark. It's the 379 00:16:35,840 --> 00:16:38,840 Speaker 1: actual account. Uh. And then you know, if they reply 380 00:16:39,080 --> 00:16:41,840 Speaker 1: to that tweet, it looks like a continuation of that thread. 381 00:16:41,920 --> 00:16:44,640 Speaker 1: It's like, oh, also, here's some additional thoughts on that, right, 382 00:16:44,720 --> 00:16:47,440 Speaker 1: And that's exactly how he fell prey. Yeah, and he 383 00:16:47,560 --> 00:16:50,600 Speaker 1: so he clicked the link to the bitcoin giveaway and 384 00:16:50,800 --> 00:16:53,640 Speaker 1: basically it was like they were reporting to double the 385 00:16:53,680 --> 00:16:56,040 Speaker 1: amount of bitcoin, like if you give ten bitcoin, you're 386 00:16:56,040 --> 00:16:58,080 Speaker 1: gonna get twenty back. And so he was hoping that 387 00:16:58,080 --> 00:17:00,840 Speaker 1: he could double his money quickly, and he went all in, yeah, 388 00:17:01,720 --> 00:17:04,360 Speaker 1: attempting to double his money in in just minutes. But 389 00:17:04,680 --> 00:17:06,800 Speaker 1: it was of course too good to be true. As 390 00:17:06,800 --> 00:17:09,240 Speaker 1: this German Man found out and he lost four hundred 391 00:17:09,240 --> 00:17:13,440 Speaker 1: thousand dollars in seconds. Yeah, it's pretty ludicrous. Also incredibly 392 00:17:13,560 --> 00:17:15,320 Speaker 1: sad for that dude. But you know, he's not the 393 00:17:15,359 --> 00:17:17,960 Speaker 1: only one to lose money to scams. Uh. Scams have 394 00:17:18,000 --> 00:17:20,639 Speaker 1: really been on the rise. In Consumers have lost fifty 395 00:17:20,720 --> 00:17:24,040 Speaker 1: six billion dollars to identity fraud last year. According to 396 00:17:24,080 --> 00:17:27,320 Speaker 1: a new study from Javelin, identity fraud is getting more 397 00:17:27,359 --> 00:17:31,560 Speaker 1: insidious and scammers are just stealing more money via you know, 398 00:17:31,680 --> 00:17:35,119 Speaker 1: some of these direct contacts like this Twitter scam. So 399 00:17:35,160 --> 00:17:36,760 Speaker 1: the best advice that we can give is to just 400 00:17:36,800 --> 00:17:39,520 Speaker 1: not click on links that you don't know, uh, and 401 00:17:39,600 --> 00:17:42,639 Speaker 1: don't respond to unsolicited calls or emails. And and you know, 402 00:17:42,640 --> 00:17:44,800 Speaker 1: in this guy's case, I think in the story you 403 00:17:44,840 --> 00:17:47,040 Speaker 1: talked about how it was pretty late at night, UH, 404 00:17:47,040 --> 00:17:49,080 Speaker 1: and we would recommend for you to not make major 405 00:17:49,160 --> 00:17:51,680 Speaker 1: financial decisions late at night, you know, as your brain 406 00:17:51,760 --> 00:17:54,280 Speaker 1: is starting to power down for the night. It's a 407 00:17:54,320 --> 00:17:56,760 Speaker 1: time of vulnerability, I think, And so it's smart to 408 00:17:56,800 --> 00:17:59,600 Speaker 1: avoid things like that. And it's also another reason too. 409 00:17:59,600 --> 00:18:01,520 Speaker 1: Why have these apps on your phone that allow you 410 00:18:01,560 --> 00:18:03,680 Speaker 1: to to buy and sell and the trade and to 411 00:18:03,680 --> 00:18:06,800 Speaker 1: to buy bitcoin, you know, essentially on a whim. How 412 00:18:06,840 --> 00:18:08,919 Speaker 1: that's not something that we would recommend this. It's one 413 00:18:08,960 --> 00:18:10,840 Speaker 1: of the reasons why, like I personally have a robin 414 00:18:10,880 --> 00:18:13,080 Speaker 1: Hood account, but I do not have that app on 415 00:18:13,119 --> 00:18:15,000 Speaker 1: my phone because I don't want to be tempted into 416 00:18:15,040 --> 00:18:17,840 Speaker 1: constantly checking it. I've got to actually log in all 417 00:18:17,880 --> 00:18:20,440 Speaker 1: my desktop computer in order to do that. So figure 418 00:18:20,440 --> 00:18:22,520 Speaker 1: out what barriers and what kind of margin you need 419 00:18:22,560 --> 00:18:25,719 Speaker 1: to yeah, keep you from making some unwise decisions like that. 420 00:18:26,200 --> 00:18:28,120 Speaker 1: One other thing that makes me think is never give 421 00:18:28,200 --> 00:18:30,760 Speaker 1: somebody your phone, Like I think sometimes that that's actually 422 00:18:30,760 --> 00:18:32,520 Speaker 1: another scam I've seen around is that people be like, oh, 423 00:18:32,520 --> 00:18:33,920 Speaker 1: can I see your phone, need to call somebody, I'm 424 00:18:33,920 --> 00:18:35,800 Speaker 1: strained it or something like that, And you wanted to 425 00:18:35,840 --> 00:18:38,199 Speaker 1: be the nice person, You hand them your phone and 426 00:18:38,240 --> 00:18:40,399 Speaker 1: they pretend to dial the number and talk to somebody. 427 00:18:40,440 --> 00:18:42,840 Speaker 1: But what they actually do is they jump into your 428 00:18:42,880 --> 00:18:46,120 Speaker 1: Venmo account or your cash app account and they send 429 00:18:46,160 --> 00:18:48,840 Speaker 1: themselves money and you have no recourse to get it back. 430 00:18:48,920 --> 00:18:52,040 Speaker 1: Typically uh and then too, I think Matt high pressure 431 00:18:52,040 --> 00:18:54,760 Speaker 1: tactics are something else to be wary of. There's a 432 00:18:54,840 --> 00:18:57,439 Speaker 1: utility scam that's happening around the nation right now, and 433 00:18:57,480 --> 00:18:59,879 Speaker 1: we can put a link to an FTC briefing on this. 434 00:19:00,040 --> 00:19:02,400 Speaker 1: The show notes, but people are calling you and telling 435 00:19:02,440 --> 00:19:04,439 Speaker 1: you that you haven't paid the power bill, and if 436 00:19:04,440 --> 00:19:06,600 Speaker 1: you don't pay them immediately over the phone, they'll shut 437 00:19:06,640 --> 00:19:09,439 Speaker 1: your power off and insides a panic in you. It's 438 00:19:09,440 --> 00:19:11,600 Speaker 1: a high pressure tactic to get you to to pay 439 00:19:11,640 --> 00:19:14,639 Speaker 1: money quickly, and that's what they're resorting to, is that 440 00:19:14,720 --> 00:19:17,120 Speaker 1: emotional reaction. Um that you're thinking with a different part 441 00:19:17,119 --> 00:19:18,960 Speaker 1: of your brain than you normally would be. Right, Yeah, 442 00:19:18,960 --> 00:19:20,840 Speaker 1: the kids are on the zoom call their virtual learning 443 00:19:20,840 --> 00:19:22,960 Speaker 1: and you're like, no, like we need power right well. 444 00:19:22,960 --> 00:19:26,400 Speaker 1: And especially to their targeting targeting businesses because like if 445 00:19:26,480 --> 00:19:28,560 Speaker 1: you're a business and you're busy, right well, I don't 446 00:19:28,600 --> 00:19:30,680 Speaker 1: know how many are these days, but like imagine a 447 00:19:30,760 --> 00:19:33,520 Speaker 1: restaurant pre pandemic times. They've got a whole restaurant full 448 00:19:33,560 --> 00:19:36,320 Speaker 1: of people and they're picturing power going down like that 449 00:19:36,520 --> 00:19:39,600 Speaker 1: is a terrible situation. And so small business owners particularly 450 00:19:39,680 --> 00:19:41,360 Speaker 1: take note here. You know, when you get a phone 451 00:19:41,400 --> 00:19:44,160 Speaker 1: call like that or or link in an email, don't 452 00:19:44,440 --> 00:19:46,800 Speaker 1: click the link, don't directly respond to the people that 453 00:19:46,880 --> 00:19:50,399 Speaker 1: called you, instead hang up and call the company directly 454 00:19:50,480 --> 00:19:53,119 Speaker 1: or go directly to the company's website, and never, of 455 00:19:53,119 --> 00:19:55,800 Speaker 1: course give your banking information or your bitcoin to anyone 456 00:19:55,840 --> 00:19:58,240 Speaker 1: online or over the phone. I know, like I think 457 00:19:58,280 --> 00:19:59,920 Speaker 1: sometimes we read these stories that we hear about the 458 00:20:00,040 --> 00:20:02,360 Speaker 1: US and we're like, man, that's one person who made 459 00:20:02,359 --> 00:20:05,200 Speaker 1: a really dumb decision. But I think we could all 460 00:20:05,240 --> 00:20:07,639 Speaker 1: potentially fall prey to some of these things, especially you know, 461 00:20:07,680 --> 00:20:10,480 Speaker 1: in emotional moments which a lot of these scammers are 462 00:20:10,520 --> 00:20:12,760 Speaker 1: trying to put put us into, or even just using 463 00:20:12,800 --> 00:20:15,960 Speaker 1: your good nature, your your kindness against you in order 464 00:20:16,000 --> 00:20:18,320 Speaker 1: to steal your money. But let's move on. Matt's talking 465 00:20:18,320 --> 00:20:21,320 Speaker 1: about cars for a second. And you know, our second 466 00:20:21,320 --> 00:20:24,439 Speaker 1: favorite form of personal transportation. That's right, not as nice 467 00:20:24,480 --> 00:20:27,880 Speaker 1: as bikes, but they do in some circumstances, right, it'll do. Yeah. 468 00:20:28,200 --> 00:20:31,720 Speaker 1: But interestingly enough, the product that experienced the most inflation 469 00:20:31,800 --> 00:20:34,840 Speaker 1: this past year was used cars, to the tune of 470 00:20:34,840 --> 00:20:38,760 Speaker 1: a seventeen percent average increase in price in just seven months. 471 00:20:39,119 --> 00:20:40,760 Speaker 1: So if you're in the market for a used car, 472 00:20:40,800 --> 00:20:43,399 Speaker 1: you're gonna pay more right now because prices have risen 473 00:20:43,440 --> 00:20:46,359 Speaker 1: a lot. It's bad news if you're buying one. But 474 00:20:46,720 --> 00:20:48,919 Speaker 1: on the flip side, there's great news if you can 475 00:20:48,960 --> 00:20:50,960 Speaker 1: get rid of a car in your life, which we 476 00:20:51,080 --> 00:20:53,399 Speaker 1: suggest you attempt to do. Uh. We think a lot 477 00:20:53,440 --> 00:20:56,080 Speaker 1: of people could get by with having one fewer car, 478 00:20:56,720 --> 00:20:59,320 Speaker 1: and especially in the new work from home environment and Matt, 479 00:20:59,480 --> 00:21:01,719 Speaker 1: you know you are family became a one car family recently. 480 00:21:01,720 --> 00:21:04,040 Speaker 1: Part be because of a lifestyle change, right, we're working 481 00:21:04,080 --> 00:21:06,159 Speaker 1: on out of the basement and um, and that just 482 00:21:06,240 --> 00:21:08,560 Speaker 1: means I don't have the community where which is nice? Well, 483 00:21:08,720 --> 00:21:10,840 Speaker 1: or it's a half mile commute, right, which isn't what 484 00:21:10,920 --> 00:21:13,240 Speaker 1: you normally bike or walk? Yeah, depending on your mood, 485 00:21:13,280 --> 00:21:15,720 Speaker 1: I guess yeah, and uh and which which is? Which 486 00:21:15,760 --> 00:21:17,840 Speaker 1: is like really nice? I'll say. But part of the 487 00:21:17,880 --> 00:21:20,080 Speaker 1: reason too that we sold the car was because of 488 00:21:20,119 --> 00:21:23,840 Speaker 1: this upticking prices. The Nissan Leaf that we had was 489 00:21:24,040 --> 00:21:26,440 Speaker 1: a nice car, but it had kind of pitiful range, 490 00:21:26,480 --> 00:21:29,159 Speaker 1: to be honest, and so yeah, this car really was 491 00:21:29,560 --> 00:21:32,640 Speaker 1: losing value quickly. But for a minute the price went 492 00:21:32,760 --> 00:21:34,480 Speaker 1: up and we wanted to take advantage of that, so 493 00:21:34,520 --> 00:21:36,560 Speaker 1: we got rid of it, sold to carbonit for a 494 00:21:36,640 --> 00:21:38,280 Speaker 1: nice chunk of change. And I think a lot more 495 00:21:38,320 --> 00:21:40,240 Speaker 1: people if they thought about it could take advantage of 496 00:21:40,240 --> 00:21:42,560 Speaker 1: this moment right now and get paid more money than 497 00:21:42,600 --> 00:21:45,000 Speaker 1: they thought their car was actually worth. Yeah, most definitely. 498 00:21:45,040 --> 00:21:47,959 Speaker 1: And yeah, on the note of cars, Consumer Reports they 499 00:21:47,960 --> 00:21:51,440 Speaker 1: just published an article about our collective worst nightmare when 500 00:21:51,440 --> 00:21:55,760 Speaker 1: it comes to automobiles, which are potholes. And I say collective, dude, 501 00:21:55,760 --> 00:21:59,760 Speaker 1: because Triple A estimates that potholes cost us three billion 502 00:21:59,800 --> 00:22:02,640 Speaker 1: dollar hours and damages every single year. I think we've 503 00:22:02,640 --> 00:22:06,840 Speaker 1: all experienced a pothole ruining our day. Uh, yeah, you've 504 00:22:06,840 --> 00:22:09,360 Speaker 1: been there. Uh and specifically to man like I don't 505 00:22:09,400 --> 00:22:10,720 Speaker 1: think we talked about this on the show, but I 506 00:22:10,760 --> 00:22:14,800 Speaker 1: had to replace some tires on our van a little prematurely, 507 00:22:15,560 --> 00:22:17,000 Speaker 1: and the reason I needed to do that was because 508 00:22:17,040 --> 00:22:20,760 Speaker 1: of damage to one tire in particular from pothole damage. Basically, 509 00:22:20,800 --> 00:22:23,480 Speaker 1: like what happens when you're tired slams into a pothole, 510 00:22:23,520 --> 00:22:25,639 Speaker 1: you know, like there's these metal bands in your tire 511 00:22:26,119 --> 00:22:29,320 Speaker 1: and a significant impact can either weaken or snap some 512 00:22:29,400 --> 00:22:31,240 Speaker 1: of those some of those metal bands. And it's something 513 00:22:31,320 --> 00:22:33,840 Speaker 1: that you may not notice right away, right especially too 514 00:22:33,840 --> 00:22:36,160 Speaker 1: if it's just kind of like not a terrible pothole, 515 00:22:36,160 --> 00:22:37,800 Speaker 1: but it's something maybe you hit every day on on 516 00:22:37,800 --> 00:22:41,119 Speaker 1: your way to work. Say, but over time, uh, that 517 00:22:41,200 --> 00:22:44,480 Speaker 1: spot gets weaker and weaker, and eventually you'll get a bulge. 518 00:22:44,640 --> 00:22:46,800 Speaker 1: It causes you're tired to become unbalanced, and it's not 519 00:22:46,880 --> 00:22:49,480 Speaker 1: something that you want to fix because the safety of 520 00:22:49,520 --> 00:22:51,640 Speaker 1: the tire has been compromised. So all I had to say, 521 00:22:51,680 --> 00:22:53,760 Speaker 1: we want you to avoid these potholes and that three 522 00:22:53,760 --> 00:22:56,399 Speaker 1: billion dollars every year that folks are forking over. Then, 523 00:22:56,440 --> 00:22:57,680 Speaker 1: of course, the way you do that is make sure 524 00:22:57,680 --> 00:22:59,199 Speaker 1: that you're focusing on the road, make sure you're not 525 00:22:59,280 --> 00:23:01,480 Speaker 1: messing with your own you know, to make sure that 526 00:23:01,520 --> 00:23:03,959 Speaker 1: you're slowing down as well, because if there's a pothole, 527 00:23:04,000 --> 00:23:06,320 Speaker 1: you want to make sure that you can easily avoid that. 528 00:23:06,640 --> 00:23:08,760 Speaker 1: And when you swerve maybe to avoid that puddle, you 529 00:23:08,760 --> 00:23:10,760 Speaker 1: want to make sure that you don't crash into a 530 00:23:10,760 --> 00:23:12,520 Speaker 1: car next to you, because you know that would be 531 00:23:12,680 --> 00:23:14,960 Speaker 1: kind of self defeating if you're trying to avoid a 532 00:23:14,960 --> 00:23:17,159 Speaker 1: pottle to uh not ruin your car, but then you 533 00:23:17,240 --> 00:23:19,440 Speaker 1: end up crashing into another vehicle. Don't do that. That 534 00:23:19,440 --> 00:23:21,480 Speaker 1: would be terrible. And so that takes you know, like 535 00:23:21,520 --> 00:23:24,080 Speaker 1: situational awareness essentially, like you need to be aware of 536 00:23:24,119 --> 00:23:26,000 Speaker 1: the cars around you. That way, you can make a 537 00:23:26,040 --> 00:23:28,600 Speaker 1: small move like that, a small little maneuver, without completely 538 00:23:28,600 --> 00:23:31,000 Speaker 1: wrecking your vehicle. Yeah, a man. A couple other ways 539 00:23:31,040 --> 00:23:33,320 Speaker 1: that you can do something about the potholes in your 540 00:23:33,320 --> 00:23:36,800 Speaker 1: area too that are causing much consternation would be to 541 00:23:37,080 --> 00:23:39,760 Speaker 1: report them to the city. And so, like, our city 542 00:23:39,760 --> 00:23:41,159 Speaker 1: has three one one, and I know a lot of 543 00:23:41,160 --> 00:23:43,480 Speaker 1: cities have three one one. You dial through one one, 544 00:23:43,560 --> 00:23:47,080 Speaker 1: you report where the pothole is, and you know, oftentimes 545 00:23:47,359 --> 00:23:49,439 Speaker 1: it's just that the city doesn't know that it exists 546 00:23:49,440 --> 00:23:50,960 Speaker 1: and they don't come out to fix it because of that. 547 00:23:51,280 --> 00:23:53,880 Speaker 1: And so yeah, crewe will typically come out in order 548 00:23:53,920 --> 00:23:56,480 Speaker 1: to repair that pothole, So report it there. There's also 549 00:23:56,520 --> 00:23:58,800 Speaker 1: sometimes I remember there was a guy on a local 550 00:23:58,840 --> 00:24:02,000 Speaker 1: TV station literally called him the pothole guy, and you 551 00:24:02,040 --> 00:24:05,520 Speaker 1: would report your pothole, your terrible pothole to him, and 552 00:24:05,600 --> 00:24:07,119 Speaker 1: he would call the city on your behalf. He'd like, 553 00:24:07,160 --> 00:24:09,200 Speaker 1: gets some media attention about it, and funny, So I 554 00:24:09,240 --> 00:24:11,399 Speaker 1: don't know if other cities have a pothole guy. I 555 00:24:11,440 --> 00:24:12,879 Speaker 1: thought you're gonna say that he just shows up and 556 00:24:12,920 --> 00:24:15,880 Speaker 1: does it himself. He's like your local ron Swanson where 557 00:24:15,880 --> 00:24:18,800 Speaker 1: he shows up with some some cold, poor asphalt and 558 00:24:19,040 --> 00:24:21,480 Speaker 1: tamps it down for you. I mean, I guess you 559 00:24:21,520 --> 00:24:24,640 Speaker 1: could like utilize your own little asphalt army too, and 560 00:24:24,440 --> 00:24:27,040 Speaker 1: and and start repairing your own potholes. But yeah, potholes 561 00:24:27,119 --> 00:24:29,840 Speaker 1: are the worst and and they can cause major tire 562 00:24:29,880 --> 00:24:31,800 Speaker 1: damage and just like a lot of frustration is just 563 00:24:31,880 --> 00:24:34,040 Speaker 1: it's like the worst feeling to hit a massive pothole 564 00:24:34,400 --> 00:24:37,960 Speaker 1: and you're like rocks your whole vehicle exactly. Yeah, like 565 00:24:38,119 --> 00:24:40,239 Speaker 1: makes you want to grit your teeth. Man. Let's talk 566 00:24:40,240 --> 00:24:42,080 Speaker 1: about student loans. You know, we touched last week on 567 00:24:42,119 --> 00:24:45,399 Speaker 1: some student loan forgiveness news how health taxes are are 568 00:24:45,400 --> 00:24:47,199 Speaker 1: going to be waved on student loans that will be 569 00:24:47,240 --> 00:24:50,120 Speaker 1: forgiven in the next five years through relief programs. Well, 570 00:24:50,160 --> 00:24:53,800 Speaker 1: the Biden administration has granted new relief targeting folks that 571 00:24:53,880 --> 00:24:57,960 Speaker 1: attended for profit universities, and roughly seventy two thou borrowers 572 00:24:58,040 --> 00:25:02,280 Speaker 1: are eligible to receive around billion dollars in loan cancelation. 573 00:25:02,359 --> 00:25:06,520 Speaker 1: This is called the Borrower Defense to Repayment Program. Uh. 574 00:25:06,560 --> 00:25:08,199 Speaker 1: And what's really important here is that you have to 575 00:25:08,280 --> 00:25:11,439 Speaker 1: prove that you were defrauded or misled. So, for instance, 576 00:25:11,440 --> 00:25:13,840 Speaker 1: if the school you attended, if they lied about job 577 00:25:13,880 --> 00:25:17,119 Speaker 1: placement after graduation, or if they lie at about promises 578 00:25:17,200 --> 00:25:19,760 Speaker 1: about like what you would earn after graduation, that's the 579 00:25:19,760 --> 00:25:22,320 Speaker 1: type of activity where you might be able to qualify 580 00:25:22,480 --> 00:25:25,159 Speaker 1: for that loan forgiveness. Will link to more info on 581 00:25:25,280 --> 00:25:28,359 Speaker 1: the borrower defense program over at student a dot gov. 582 00:25:28,400 --> 00:25:30,600 Speaker 1: They've got a page set up over there. Yeah, and 583 00:25:30,600 --> 00:25:33,119 Speaker 1: if you went to a for profit university, it's not 584 00:25:33,160 --> 00:25:36,120 Speaker 1: gonna be all that hard to prove that you're defrauded 585 00:25:36,160 --> 00:25:38,440 Speaker 1: or misled because a lot of those for profit universities 586 00:25:38,560 --> 00:25:41,280 Speaker 1: were using some pretty shady tactics to try and attract 587 00:25:41,359 --> 00:25:44,920 Speaker 1: students to their schools. And be patient but persistent as well, 588 00:25:45,320 --> 00:25:48,320 Speaker 1: because the Department of Education is a little overwhelmed these days. 589 00:25:48,480 --> 00:25:49,959 Speaker 1: But like Matt said, will link to where you can 590 00:25:50,000 --> 00:25:53,159 Speaker 1: apply for that forgiveness. And speaking of applications, Matt, the 591 00:25:53,680 --> 00:25:58,920 Speaker 1: most selective schools have been inundated with applications with students 592 00:25:58,960 --> 00:26:00,840 Speaker 1: who want to attend those school and they're having to 593 00:26:00,920 --> 00:26:04,120 Speaker 1: delay admission selections because some of them are seeing like 594 00:26:04,160 --> 00:26:06,879 Speaker 1: thirty or forty percent more applications overall, that's just a 595 00:26:06,880 --> 00:26:09,160 Speaker 1: lot more to wade through, right, And this is really 596 00:26:09,200 --> 00:26:11,600 Speaker 1: a problem in particular with like Ivy League schools and 597 00:26:11,680 --> 00:26:15,679 Speaker 1: other highly selective schools because they've waived their typical S 598 00:26:15,720 --> 00:26:18,120 Speaker 1: A T and a C T score requirements this year, 599 00:26:18,280 --> 00:26:19,639 Speaker 1: and so a lot more people are like going to 600 00:26:19,680 --> 00:26:22,000 Speaker 1: give it a shot. They're like, well why not. Yeah, 601 00:26:22,320 --> 00:26:24,040 Speaker 1: they might have figured that they didn't have much of 602 00:26:24,040 --> 00:26:26,320 Speaker 1: a shot if if they had to submit their S 603 00:26:26,320 --> 00:26:28,600 Speaker 1: A T R A C T. But without having to 604 00:26:28,720 --> 00:26:31,760 Speaker 1: have a super ridiculously high S A T or a 605 00:26:31,840 --> 00:26:34,080 Speaker 1: C C A C T test score. They're thinking that 606 00:26:34,160 --> 00:26:36,840 Speaker 1: this is their year to get into the school their dreams. Yeah. 607 00:26:36,880 --> 00:26:39,520 Speaker 1: And interestingly, data from common app which is a standard 608 00:26:39,560 --> 00:26:42,240 Speaker 1: application a ton of schools used, they show that even 609 00:26:42,280 --> 00:26:45,680 Speaker 1: though applications were leven, the number of applicants only a 610 00:26:45,760 --> 00:26:47,560 Speaker 1: rose by two point four percent. So that kind of 611 00:26:47,640 --> 00:26:50,479 Speaker 1: verifies what you're seeing there, Joe, that more applications are 612 00:26:50,520 --> 00:26:52,840 Speaker 1: being sent out, many of which are being sent to 613 00:26:52,840 --> 00:26:55,879 Speaker 1: those more prestigious schools. It's definitely kind of an interesting 614 00:26:55,960 --> 00:26:59,080 Speaker 1: experiment to see like what kind of students they actually 615 00:26:59,160 --> 00:27:02,639 Speaker 1: end up accepting, what the class of ends up looking like. 616 00:27:03,000 --> 00:27:04,920 Speaker 1: And actually, on that note too, we'll talk more about 617 00:27:05,000 --> 00:27:08,760 Speaker 1: college in the COVID era and specifically saving money on college. 618 00:27:09,240 --> 00:27:11,760 Speaker 1: We're gonna have that conversation on Monday with the New 619 00:27:11,840 --> 00:27:14,320 Speaker 1: York Times money guy Ron Lieber, so you can look 620 00:27:14,359 --> 00:27:17,439 Speaker 1: forward to that after this weekend. Yeah. Ron's book has 621 00:27:17,480 --> 00:27:20,560 Speaker 1: been many, many years in the making, a lot of research, 622 00:27:20,600 --> 00:27:23,280 Speaker 1: a lot of personal experience. Ron is a brilliant dude, 623 00:27:23,320 --> 00:27:25,919 Speaker 1: So I'm really excited to share that conversation with everyone 624 00:27:26,000 --> 00:27:28,520 Speaker 1: on Monday. But we hope you have a great weekend 625 00:27:28,760 --> 00:27:31,200 Speaker 1: and head to our website how to money dot com 626 00:27:31,240 --> 00:27:33,040 Speaker 1: for show notes and links to some of the things 627 00:27:33,080 --> 00:27:35,040 Speaker 1: we talked about for this episode. That's right, man, So 628 00:27:35,040 --> 00:27:37,360 Speaker 1: that's gonna be it until next time. Best Friends Out, 629 00:27:37,400 --> 00:27:38,520 Speaker 1: Best Friends Out.