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Speaker 1: Welcome to Had of Money. I'm Joel and I am Matt,

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Speaker 1: and today we're talking rents, receding, the bull is back,

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Speaker 1: and legit free cell service.

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Speaker 2: The bull is that? Is that like a local country

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Speaker 2: station here in Atlanta. I think it is hit to

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Speaker 2: grab the bull by the horns. Matt Well, speaking of wait,

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Speaker 2: what's the word with ninety nine X? Speaking of radio?

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Speaker 2: Is like that was an old like alternative rock station

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Speaker 2: that we used to listen to back in the day.

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Speaker 2: It went away. Evidently it's back. Yeah, I think so

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Speaker 2: what happened there? I don't know. I don't know. I mean,

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Speaker 2: we're not going to talk about radio stations. And actually

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Speaker 2: another little side note, I guess right before we hit

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Speaker 2: record for this episode, we've been emailing with a listener

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Speaker 2: and he just like kind of casually missions that he

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Speaker 2: is getting.

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Speaker 1: Married today, which was awesome. Well, he'd refer a bunch

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Speaker 1: of people in the newsletter. And by the way, if

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Speaker 1: you refer enough people, you get we'd pay you six dollars. Yeah,

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Speaker 1: we bear you to buy a beer beer on us.

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Speaker 1: And so we paid him six dollars. We paid to

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Speaker 1: buy his beer, and he said, oh, you know what

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Speaker 1: this comes in especially handy since I'm getting married today,

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Speaker 1: We're like, what, so congrats to Kendall and I felt

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Speaker 1: like we were celebrating right there with a significant other.

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Speaker 1: That's beautiful, man. I hope it's a wonderful one. So yeah,

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Speaker 1: we wish you the best. And my guest, by the way,

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Speaker 1: is because we record these on Thursdays, he's getting married

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Speaker 1: on Thursday. I bet you he saved money by not

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Speaker 1: getting married on the weekend.

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Speaker 2: Don't you think probably got a discount there on the venue.

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Speaker 2: So smart hat of money movie. That's I love weddings.

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Speaker 2: Weddings are It's just a it's the best celebrating with

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Speaker 2: other couples as they're kicking off their life together. But yeah,

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Speaker 2: you don't have to spend a ton of money. Yeah,

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Speaker 2: and yeah, I think you're right. I think Kendall is

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Speaker 2: doing it on the cheap. Joel. This is our Friday

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Speaker 2: flight where we're going to talk through some of the

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Speaker 2: most important stories that we came across this week and

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Speaker 2: how they pertain to your personal finances. And I guess

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Speaker 2: this is just a quick one that we'll start off with.

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Speaker 2: But the CFPB, the Consumer Financial Protection Bureau, they recently

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Speaker 2: put out a report talking about how the different money

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Speaker 2: apps on your phone, how they're actually not safe, how

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Speaker 2: they're not FDIC insured, and who said that before the CFPB.

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Speaker 2: I wonder, Yeah, I was gonna say, yeah, we should

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Speaker 2: just pat ourselves on the back for a second here,

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Speaker 2: because we talked about this like months ago. I think.

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Speaker 2: But fact is, money that you do have stored within

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Speaker 2: those apps is not protected by the FDIC, and I think,

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Speaker 2: so get it out of there, transfer it to your

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Speaker 2: rank accout. I think you can be tempted into treating

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Speaker 2: it like just you're like a basic checking account. Do

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Speaker 2: some people have thousands of dollars in there, but don't

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Speaker 2: do that. Get that money out of there.

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Speaker 1: With all the scams that take place on those apps too,

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Speaker 1: people requesting money, somebody asked to borrow your phone, transfers

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Speaker 1: that money to their account. There's a lot of bad

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Speaker 1: stuff that can happen. So yeah, move your move your

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Speaker 1: money out of tho accounts. I'm glad the CFPB is

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Speaker 1: sounding the alarm, but we did it before them, So

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Speaker 1: I'll take credit. Yeah, use it to transfer the must

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Speaker 1: listen to the show.

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Speaker 2: Ooh what if they do?

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Speaker 1: What if there's somebody hey, We did have the former

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Speaker 1: director of the CFPB, Richard Cordrey, on the show back

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Speaker 1: in the day, so I forgot about him. We've got connections.

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Speaker 1: He was great, that's true. All right, let's move on, Matt,

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Speaker 1: Let's get to even more stories. Let's talk about how

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Speaker 1: much people are going to get paid this summer, and

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Speaker 1: it's gonna be a good summer, in particular for teenagers. Why, Well,

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Speaker 1: it turns out that teens are getting paid more than

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Speaker 1: they ever have. And guess it's true. The national minimum

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Speaker 1: wage hasn't gone up in quite a long time, but

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Speaker 1: wages have increased significantly at the bottom of the pay

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Speaker 1: scale anyway, So people arguing for fifteen dollars an hour

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Speaker 1: minimum wage, Matt, well, we kind of have that de

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Speaker 1: facto in the marketplace anyway. Across much of the country.

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Speaker 2: The invisible hand is at work, that's right.

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Speaker 1: And so the average hourly rate for fifteen to nineteen

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Speaker 1: year olds is now fourteen dollars in eighty nine cents.

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Speaker 1: So we're talking about teenagers, right, people who are just

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Speaker 1: beginning their work career. Of the average rate of pay

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Speaker 1: is now double the federal US minimum wage, and a

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Speaker 1: lot of businesses are in such desperate need of hourly

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Speaker 1: workers still, meaning teens are going to have more options

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Speaker 1: than never before and they can do pretty well for themselves.

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Speaker 1: We think that teenage jobs are great on a whole

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Speaker 1: lot of fronts. They help teach some good work habits

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Speaker 1: to those kids. To those teenagers, plus, getting a paycheck

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Speaker 1: and learning to handle money on their own while they're

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Speaker 1: still under their parents' roof is kind of the perfect

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Speaker 1: way to begin their financial lives. And one thing I guess,

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Speaker 1: one word of advice map for these teenagers is if

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Speaker 1: you get this well paying job, you know you might

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Speaker 1: be able to get more than fifteen bucks an hour.

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Speaker 1: If that's the average, you might be making eighteen, nineteen

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Speaker 1: twenty bucks an hour. Don't forget to open up a

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Speaker 1: roth ira with some of those earnings. Get started early.

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Speaker 1: Oh yeah, you can party with some of the money,

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Speaker 1: have fun, but don't forget to Yeah, be disciplined with

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Speaker 1: a small portion of it. Decades down the road, you'll

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Speaker 1: be glad you did.

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Speaker 2: That's right. Yeah, So it's not just teens who are

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Speaker 2: getting paid more. Blue collar workers are earning significantly more

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Speaker 2: money as well. We've been basically beating this drum for years. Honestly,

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Speaker 2: it makes me think of another guest who we've had

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Speaker 2: on the show, Ken Rusk, that was episode to seventy seven,

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Speaker 2: where we talked about blue collar work the skilled trades. Well,

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Speaker 2: new stats showed that electricians they are also getting paid electricians.

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Speaker 2: They saw an average income growth of seven point four

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Speaker 2: percent year over year, and one trade group reports that

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Speaker 2: entry level electricians that they're able to make a starting

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Speaker 2: salary of seventy eight thousand dollars in much of the USA. Wow.

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Speaker 2: So you know, as consumers, as homeowners, as non electricians

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Speaker 2: ourselves who need to hire these guys, this means that

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Speaker 2: you'll be forking over more for that work. But we

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Speaker 2: want to bring this up because it's a great reminder

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Speaker 2: that blue collar work, the skill trades, if you are

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Speaker 2: so inclined, they can pay incredibly well and they can

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Speaker 2: help you to avoid taking on just the massive burden

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Speaker 2: of college debt. At the same time, Joel, literally earlier today,

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Speaker 2: I was getting quotes for some electrical work that needs

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Speaker 2: to be done over at our house, and I was

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Speaker 2: shocked at how expensive those quotes were coming in at

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Speaker 2: maybe want to hop on YouTube watch a few videos. Yeah,

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Speaker 2: give it a shot myself and burn down the house

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Speaker 2: and the pause. That's probably what would likely happen. Bruguler

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Speaker 2: cheat with that electrical work.

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Speaker 1: Yeah, I guess it depends on how much you know

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Speaker 1: and whether or not you feel comfortable kind of learning

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Speaker 1: on the fly, right, But you're right. I mean, it's

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Speaker 1: interesting to see that electricians in particular, and just I

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Speaker 1: mean skilled trades in general, but electricians specifically, according to

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Speaker 1: this study, are doing so well. And I think anybody

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Speaker 1: who who is a skilled trades person should go back

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Speaker 1: and listen to that episode with Ken Rusk because he

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Speaker 1: found that episode. Yeah, I mean, he found a way

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Speaker 1: to not only I think, encourage people in that direction

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Speaker 1: more people, but also talking about how to build a

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Speaker 1: business that succeeds and so you're not just an hourly

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Speaker 1: worker making more than the otherwise what have You can

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Speaker 1: search your own thing and.

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Speaker 2: Eventually transitioning to owning a company. Yeah, make it even

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Speaker 2: bigger essentially. Yeah. Well, and one of the reason is

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Speaker 2: that they were talking about for that's that's leading to

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Speaker 2: this increase in wages is just all the electrification that's

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Speaker 2: happening in all the incentives, solar panels, evs AT.

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Speaker 1: People need a EV charger installed, stuff like that.

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Speaker 2: Exactly. It's just rising right and tied. That happens to

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Speaker 2: be raising all electricians boats.

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Speaker 1: Yeah, and we've just had a dearth of skilled trades

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Speaker 1: people for a lot of years now too, so that

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Speaker 1: is only driving up boag just further.

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Speaker 2: By the way, why aren't electric boats a thing? I'm

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Speaker 2: not that boat guy myself, but like, boats are stinky

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Speaker 2: and they're out there on the water and they're noisy.

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Speaker 2: Do electric bu.

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Speaker 1: Bet they will be some day? I got to I

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Speaker 1: think there is like one company working on it.

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Speaker 2: But well, I'm not.

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Speaker 1: Sure how well they're not a thing? Good question, it

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Speaker 1: needs to be. Yeah, electric motorcycles are those.

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Speaker 2: Are a thing? Yeah, but I've never seen or heard

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Speaker 2: of electric boats.

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Speaker 1: Still limited range. But actually we have more to say

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Speaker 1: on electric vehicles a little bit later in the podcast,

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Speaker 1: but before we get to that, Matt, let's talk about

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Speaker 1: car sharing. Because if our listeners out there, if they're

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Speaker 1: like the average American, their car sits idle for a

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Speaker 1: big chunk at the time. I think the average person's

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Speaker 1: car sits in their driveway or at work for something

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Speaker 1: like nine percent of their lives, right, I believe it

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Speaker 1: it's it's a nice thing to have a car at

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Speaker 1: your disposal, but it also just kind of chills, and

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Speaker 1: it's costing you money when it's chilling. And so a

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Speaker 1: lot of folks they could sell a car and downsize.

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Speaker 1: That's something we encourage people to do, like downsize your

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Speaker 1: fleet and pull that cash back into your life. Do

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Speaker 1: you really need that extra car? But if you want

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Speaker 1: to keep that car, right, why not make it earn

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Speaker 1: its keep? Because it turns out that your car can

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Speaker 1: make money for you. We've talked about this a little

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Speaker 1: bit before, but Toro is one of those places where

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Speaker 1: you can rent somebody else's car, but you could also

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Speaker 1: put your vehicle. You could list it up there for rent,

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Speaker 1: and you can make money on the car while it

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Speaker 1: would otherwise be just kind of sitting there. And it's

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Speaker 1: not just Touro anymore. Uber just announced that they're going

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Speaker 1: to be a Toro competitor and they're launching something called

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Speaker 1: Uber car Share and it's initially just going to be

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Speaker 1: available in Boston and Toronto. But I love seeing this, man.

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Speaker 1: I hope it's successful because you and I were all

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Speaker 1: about ownership of appreciating assets. But typically the fewer depreciating

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Speaker 1: assets you own once they're going to lose value over time,

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Speaker 1: the better, unless that is, you can find a way

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Speaker 1: to get those assets like your car, to make money

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Speaker 1: for you, in which case, you know, it's not nearly

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Speaker 1: as bad to own that second car. So, like there's

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Speaker 1: more competition in the space, more opportunity really for people

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Speaker 1: to make money with a car that's sitting idol.

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Speaker 2: That's right. Yeah, So it doesn't require you even necessarily

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Speaker 2: getting a job the summer if you're a teenager, or

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Speaker 2: changing your profession to become a blue collar worker. Even

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Speaker 2: putting something to use that you already have. That is

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Speaker 2: another way that you can make some additional money. And actually,

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Speaker 2: so while we're talking about trying to make your car

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Speaker 2: cost you less each and every month, car insurance costs

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Speaker 2: continue to soar, meaning that your car is costing you

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Speaker 2: even more money. A recent survey from car insurance dot

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Speaker 2: Com found that fifty seven percent of drivers had their

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Speaker 2: insurance rates increased in the past year.

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Speaker 1: I was actually shocked to see that it was only

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Speaker 1: six out of time. Basically, I know, I thought it

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Speaker 1: was like nine out of ten, like ten out of.

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Speaker 2: Ten, like virtually who I mean, whose car insurance has

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Speaker 2: actually gone down because I like, if this has not

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Speaker 2: happened to you yet, hold on because I think it's

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Speaker 2: coming soon. Rates According to the data at least, rates

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Speaker 2: have risen fifteen percent year over year nationally, and the

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Speaker 2: insurance companies they're not shy about the fact that these

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Speaker 2: rate hikes are going to be substantial in the coming months.

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Speaker 2: You don't have to just grin and bear it. If

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Speaker 2: you've been a longtime customer with an insurance provider, it

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Speaker 2: might be time for you to shop around, because loyalty

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Speaker 2: does not pay when it comes to car insurance. And

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Speaker 2: also revisit what kind of coverage it is that you have,

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Speaker 2: because if you've got more money saved up in the bank,

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Speaker 2: if you've got more money in an emergency fund, not

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Speaker 2: in cash app or VENMO, but in an actual savings account,

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Speaker 2: you can raise your deductible because you can now cover

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Speaker 2: the cost of having to potentially fork out some money

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Speaker 2: in order to get your car repaired if it's a

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Speaker 2: repair that's going to exceed that deductible. But then on

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Speaker 2: top of that, you can even drop full cover if

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Speaker 2: that's something that you got originally because you thought, oh man,

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Speaker 2: this is a really nice car. We don't have the

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Speaker 2: money on it, Like, we could not afford to replace

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Speaker 2: this thing if I were to get in an accident

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Speaker 2: and it was my fault. Well revisit that, because chances are,

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Speaker 2: if you've been listening to the show for a while,

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Speaker 2: hopefully you do have more money in the bank and

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Speaker 2: your car.

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Speaker 1: Car's gone down here and exactly so it's as much

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Speaker 1: as it would have otherwise.

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Speaker 2: Double whammy. Like, there are two reasons now that you

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Speaker 2: could likely drop some coverage. Certainly, maintain the legal limits

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Speaker 2: that are required they're in your state. But if there's

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Speaker 2: the ability to reduce some of that coverage, and if

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Speaker 2: that allows you to save some money, it's at least

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Speaker 2: worth considering.

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Speaker 1: Yeah, especially if your car is worth less than five digits,

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Speaker 1: Like if we're talking about somewhere between one thousand and

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Speaker 1: nine thousand dollars, that's when you should at leastart to consider,

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Speaker 1: do I have the money on hand, how much will

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Speaker 1: it save me by dropping full coverage? And it's at

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Speaker 1: least worth running the numbers and seeing if you could

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Speaker 1: stomach that increased self insurance. Right, Matt, Let's talk about

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Speaker 1: crypto for a second, which is your favorite topic, of course.

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Speaker 2: I love it.

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Speaker 1: Yeah, Crypto, we haven't really talked about it much in

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Speaker 1: a while, and I think that Crypto winter has turned

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Speaker 1: into Crypto summer, which just looks a lot more like

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Speaker 1: crypto winter because.

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Speaker 2: Crypto winter from like two winters ago.

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Speaker 1: Yeah, it's not been great, right, the results in the

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Speaker 1: cryptocurrency space, if you've been following the headlines too, the

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Speaker 1: SEC has basically said, hey, we've got our sites fixed

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Speaker 1: directly on these cryptocurrency exchanges. I won't go with to

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Speaker 1: all the details of this, but basically crypto's on shaky ground.

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Speaker 1: As the SEC Commission Chair Gary Gensler, he's firing shots

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Speaker 1: across the bow. He's trying to, you know, take crypto

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Speaker 1: out of the regulatory gray area that it currently exists

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Speaker 1: in penalizing some of those major crypto exchanges that still exist.

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Speaker 1: A lot of gun bust in the process. But Matt,

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Speaker 1: as it turns out, there was this new status show

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Speaker 1: that gen Z still loves crypto just as much as

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Speaker 1: ever and it's the most common investment among folks in

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Speaker 1: that age cohort. That's according to a new FINRA study.

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Speaker 1: Don't like that, I know, I was like, what really

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Speaker 1: I just was kind of shocked to see that still

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Speaker 1: at this point, that is the most common holding that

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Speaker 1: gen ziers have.

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Speaker 2: Yeah. Well, I mean it also surprising and is sad,

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Speaker 2: but it kind of What that tells me is that

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Speaker 2: the youngest investing generation that exists right now are receiving

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Speaker 2: like they're getting their financial advice. It's being shaped by

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Speaker 2: popular culture. Yeah, and what we know about popular culture

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Speaker 2: is it comes and it goes, it changes often. But

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Speaker 2: when it comes to the fundamentals behind how it is

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Speaker 2: that you should invest, that doesn't change.

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Speaker 1: No, No, that's pretty rock solid. And you know, there

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Speaker 1: was a headline from Box this week and I liked

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Speaker 1: it because it said now might be a good time

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Speaker 1: to consider quitting crypto. I was like, thanks Fox for

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Speaker 1: saying exactly what I'm thinking over here, you know, or

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Speaker 1: at least, as we've always said, make sure that no

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Speaker 1: more than five percent of your portfolio is in riskier

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Speaker 1: assets like cryptocurrency. And it's just it's hard to know

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Speaker 1: what the impacts of more regulatory scrutiny are going to bring,

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Speaker 1: but beware, be careful, trim your holdings if you're overexposed.

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Speaker 1: I get the desire to be in on what's happening

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Speaker 1: with popular culture. I don't necessarily do it myself, but

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Speaker 1: I get the I get that desire. But you don't

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Speaker 1: have any crypto anymore. No, I have a little bit,

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Speaker 1: but like a very very small amount. Taking my own

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Speaker 1: medicine over here. Okay, but I think there's a lot.

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Speaker 2: Of mat making sure that you didn't give up on

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Speaker 2: hotaling because I still have mine. But again I don't

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Speaker 2: it's a very very very tiny amount.

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Speaker 1: I mean, I really don't even think about it, honestly,

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Speaker 1: the same and so I want that to be the

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Speaker 1: same for gen zers who are like, even if you

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Speaker 1: believe in cryptocurrency and you think it has a future

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Speaker 1: in how we use money and you think it's going

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Speaker 1: to go to the moon or whatever, it's still just

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Speaker 1: be incredibly incredibly careful and make sure that it's a

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Speaker 1: minor holding that you're doing the most important stuff, the

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Speaker 1: boring investing in index funds and tax advantage retirement accounts.

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Speaker 2: You're doing that stuff first, That's right. Yeah, it makes

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Speaker 2: me think that we need to do a full on

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Speaker 2: episode on investing here soon. But speaking of investing in

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Speaker 2: what the market is doing, we're going to talk about

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Speaker 2: the state of the market, what we've seen recently, and

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Speaker 2: how it is that you should be responding to this

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Speaker 2: pretty hot market. We'll get to that right after the break.

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Speaker 2: All right, we're back.

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Speaker 1: We're still doing the Friday flight. Time to get to

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Speaker 1: some more financial headlines that we came across this week, Matt,

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Speaker 1: that we think are really important that pertain to how

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Speaker 1: to money, listeners, personal finances. Yeah, boy, of course we

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Speaker 1: got to get to the ludicrous headline of the week.

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Speaker 1: This one comes from a great substack, actually not a

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Speaker 1: major publication, but a great little substack run by Sam

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Speaker 1: row over at TKRE. It's one that I read every week,

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Speaker 1: and his headline was, the most popular prediction about stocks

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Speaker 1: going into twenty twenty three has been very wrong. And

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Speaker 1: I like this one because Sam highlights something really really

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Speaker 1: important in this article, essentially that almost no one predicted

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Speaker 1: the stock market to do all that well this year.

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Speaker 1: Every prediction going into twenty twenty three was modest gains,

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Speaker 1: maybe like very lukewarm sort of predictions. And there were

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Speaker 1: a lot of doom and gloom predictions out there too,

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Speaker 1: from a lot of places. In the final it's like, oh, well,

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Speaker 1: last year was so bad twenty twenty three is either

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Speaker 1: going to be bad also or.

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Speaker 2: Not so great.

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Speaker 1: Well, you didn't even have to hunt for these predictions either, right,

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Speaker 1: They informed headlines everywhere, especially at the beginning of the year,

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Speaker 1: but they also didn't come to pass, right, And so

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Speaker 1: I think this is just another reminder that forecasts and

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Speaker 1: predictions are far from an exact science. And now all

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Speaker 1: these same prediction firms are revising their predictions upwards, you

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Speaker 1: see exactly. And it's so silly to watch because well,

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Speaker 1: I mean.

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Speaker 2: You can't just keep moving the goalpost man. That's how

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Speaker 2: they do. That what they do, that's what they do.

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Speaker 2: So I saw another table that listed out I can't remember,

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Speaker 2: I think it was this past week, but there's all

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Speaker 2: the major banks, all the major investment banks, and he

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Speaker 2: had listed out all the different projections that they had

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Speaker 2: for the SMP and the market has already blown all

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Speaker 2: of them out of the water, except for like maybe one.

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Speaker 1: It was yeah, you're right, no, it was only one

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Speaker 1: out of the sixteen. Yeah, yeah, yeah, you know what.

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Speaker 1: It was incredible.

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Speaker 2: But if you had acted based on those predictions, right, like,

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Speaker 2: maybe you move some money to the sidelines, maybe you paused,

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Speaker 2: you're investing for a little bit, you would have missed

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Speaker 2: out on this bull market that we are currently back in.

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Speaker 2: It's it's crazy to say it, but it's true. And

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Speaker 2: we kind of touted the benefits of I mean, it's

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Speaker 2: a great environment right now for savers, but if you thought, okay, yeah,

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Speaker 2: who doesn't want to earn five percent in a high

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Speaker 2: yield savings But we have always said make sure that

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Speaker 2: you also continue to invest, because again, you would have

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Speaker 2: missed outs on all of the run up that we've

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Speaker 2: seen lately. Stocks are up more than twenty percent from

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Speaker 2: their bottom in October of last year. They're up over

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Speaker 2: fifteen percent year to date. And we're not going to

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Speaker 2: make any predictions about where things are going to go

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Speaker 2: from here. We're still gonna do what it is we

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Speaker 2: always do. We're going to invest regularly no matter the

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Speaker 2: market conditions or It's.

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Speaker 1: Kind of like Pinky in the brain. By the way,

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Speaker 1: they always tried to take over the world, no matter

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Speaker 1: whatever it does, no matter the odds against them.

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Speaker 2: Your fascination with Pinky in the brain continues to fascinate me.

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Speaker 2: Just keep investing your money, like, keep doing the right thing,

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Speaker 2: regardless of what the headlines are saying regardless of what

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Speaker 2: everyone else is saying or predicting about what the market's

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Speaker 2: going to do in the near future.

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Speaker 1: Yeah, exactly. Those people often sound smart. They're wearing a

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Speaker 1: suit or something like that, and you know, they got

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Speaker 1: a nice haircut, and you're like, well, they must know

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Speaker 1: something I don't know. Well, the truth is they don't.

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Speaker 1: And Matt and I are not going to tell you

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Speaker 1: we know something you don't know either.

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Speaker 2: We don't.

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Speaker 1: So I think if you're willing to admit ignorance and

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Speaker 1: just kind of continue to invest along the way, that's

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Speaker 1: going to produce the best results. You don't have to

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Speaker 1: know something that everybody else doesn't, and the people who

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Speaker 1: claim they do well be very skeptical of those claims.

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Speaker 2: Yeah, honestly, like I feel that weathermen and women are

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Speaker 2: more accurate about like the weather forecast than actual what

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Speaker 2: the market conditions are going to be in the future.

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Speaker 1: It's true, and those come with I swear I've been

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Speaker 1: looking at the forecast recently here more I don't know why.

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Speaker 1: I think I've been trying to get out and play

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Speaker 1: more disk off and I'm like, the weather's been crazy here, Yeah,

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Speaker 1: but there's been way more sun than the forecast would

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Speaker 1: lead you to believe.

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Speaker 2: So literally, that's the thing. So yesterday it was getting

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Speaker 2: close to four thirty and there was like the loudest

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Speaker 2: clap of thunder I think you and I have ever heard.

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Speaker 2: And Kate immediately texted was just like, Hey, you want

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Speaker 2: me to give you a ride home because it looked

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Speaker 2: like the bottom was about to drop fallout? What do

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Speaker 2: you say, the bottom's going to drop out? Yeah, but

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Speaker 2: I checked the radar. I was like, actually, it looks

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Speaker 2: like in five minutes it's going to clear up. And

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Speaker 2: it totally was. The rest of yesterday was like birds chirping,

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Speaker 2: sun was out. Yeah, And that's probably gonna be it

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Speaker 2: for our weather talk for you.

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Speaker 1: We should stop. That's gonna be a spin off podcast

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Speaker 1: soon and I likely that. All right, let's move on

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Speaker 1: to the housing market.

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Speaker 2: Matt.

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Speaker 1: This headline that I'm about to mention it probably would

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Speaker 1: have run in The Onion anytime over the past couple

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Speaker 1: of years, but it was actually in the Wall Street

433
00:19:13,800 --> 00:19:17,080
Speaker 1: Journal this week, and the headline was something basic. It

434
00:19:17,119 --> 00:19:19,360
Speaker 1: said renters are about to get the upper hand, which

435
00:19:19,359 --> 00:19:20,640
Speaker 1: I thought was interesting because.

436
00:19:20,400 --> 00:19:21,960
Speaker 2: It kind of sounds like a joke. It sounds like

437
00:19:22,000 --> 00:19:22,359
Speaker 2: a joke.

438
00:19:22,440 --> 00:19:25,480
Speaker 1: Anybody who has been a renter has felt the pain

439
00:19:25,880 --> 00:19:29,199
Speaker 1: of massive rent increases over the past few years. But

440
00:19:29,359 --> 00:19:32,800
Speaker 1: now rent increases are essentially flat across the country, and

441
00:19:32,840 --> 00:19:36,160
Speaker 1: they're declining even in some spots, which is great news

442
00:19:36,200 --> 00:19:38,560
Speaker 1: for a lot of folks who are tired of seeing

443
00:19:38,600 --> 00:19:42,080
Speaker 1: their rent their rents go up. And yeah, what should

444
00:19:42,119 --> 00:19:44,960
Speaker 1: you do. By the way, when you have the upper hand,

445
00:19:45,480 --> 00:19:48,240
Speaker 1: you should use it, and that means pushing back against

446
00:19:48,240 --> 00:19:50,159
Speaker 1: a rent increase if your landlord tries to get you

447
00:19:50,200 --> 00:19:52,520
Speaker 1: to pay more, and checking market rates to see if

448
00:19:52,600 --> 00:19:56,359
Speaker 1: moving makes more financial sense. This is great news overall

449
00:19:56,400 --> 00:19:56,920
Speaker 1: for inflation.

450
00:19:57,119 --> 00:19:57,280
Speaker 2: Maw.

451
00:19:57,320 --> 00:19:59,600
Speaker 1: We got those new inflation numbers this week. Inflation has

452
00:19:59,600 --> 00:20:01,120
Speaker 1: gone down. Yeah, and a lot of people are saying

453
00:20:01,119 --> 00:20:03,119
Speaker 1: it's going to go down even more because the price

454
00:20:03,200 --> 00:20:06,239
Speaker 1: of housing kind of runs on a lag with how

455
00:20:06,280 --> 00:20:08,639
Speaker 1: it gets implemented in the CPI, So it looks like

456
00:20:08,680 --> 00:20:11,040
Speaker 1: we're likely to see in place you go down even

457
00:20:11,119 --> 00:20:13,760
Speaker 1: more in the near future. But this is not just

458
00:20:13,800 --> 00:20:15,480
Speaker 1: great news for the economy as a whole. It's great

459
00:20:15,480 --> 00:20:18,480
Speaker 1: news for renters nationwide right who've been getting pinched so

460
00:20:18,600 --> 00:20:20,880
Speaker 1: hard it makes me think my little sister just kind

461
00:20:20,880 --> 00:20:23,320
Speaker 1: of notice, hey, if you want to stick around, fifty

462
00:20:23,359 --> 00:20:26,000
Speaker 1: dollars rent increase, and she was like, that doesn't seem

463
00:20:26,040 --> 00:20:28,159
Speaker 1: like much, but no, not gonna do it. Going to

464
00:20:28,560 --> 00:20:30,680
Speaker 1: move down the street. And there are new move in

465
00:20:30,760 --> 00:20:32,560
Speaker 1: offers at some of these other places, So not only

466
00:20:32,600 --> 00:20:35,080
Speaker 1: can she get weeks of free rent, she can also

467
00:20:35,119 --> 00:20:38,240
Speaker 1: get a discount on the rent. And she lives minimally

468
00:20:38,320 --> 00:20:40,040
Speaker 1: so moving's not too much of a pain.

469
00:20:40,160 --> 00:20:43,040
Speaker 2: That's a great argument for owning less stuff, the ability

470
00:20:43,080 --> 00:20:45,520
Speaker 2: to be flexible and take advantage of different offers like that.

471
00:20:45,560 --> 00:20:45,919
Speaker 2: I love it.

472
00:20:46,119 --> 00:20:47,880
Speaker 1: But the only people who are going to win as

473
00:20:47,920 --> 00:20:51,040
Speaker 1: rents stagnate or even decline are the people who push

474
00:20:51,119 --> 00:20:54,640
Speaker 1: back on their landlords and have some data to back

475
00:20:54,640 --> 00:20:55,000
Speaker 1: them up.

476
00:20:55,119 --> 00:20:56,840
Speaker 2: That's right, Yeah, I think I saw that the data

477
00:20:56,880 --> 00:20:59,480
Speaker 2: included some single family home so that you know, this

478
00:20:59,560 --> 00:21:03,159
Speaker 2: might be if you rent a single family home, but

479
00:21:03,240 --> 00:21:05,640
Speaker 2: this is definitely true if you live in an apartment,

480
00:21:05,640 --> 00:21:08,600
Speaker 2: because there's a historic number of new apartments being built

481
00:21:08,720 --> 00:21:11,000
Speaker 2: at the moment. But these rent declines, they're also not

482
00:21:11,040 --> 00:21:13,200
Speaker 2: going to be great for many real estate investors who

483
00:21:13,280 --> 00:21:17,959
Speaker 2: have made potentially ill advised, ill timed purchases during the

484
00:21:18,000 --> 00:21:20,359
Speaker 2: height of the market. I think we're going to see

485
00:21:20,400 --> 00:21:22,960
Speaker 2: more individuals, We're going to see more real estate syndication

486
00:21:23,080 --> 00:21:26,679
Speaker 2: deals going up in smoke. And that's honestly, it's not

487
00:21:26,720 --> 00:21:29,159
Speaker 2: necessarily a bad thing. I feel. I feel it for

488
00:21:29,480 --> 00:21:34,040
Speaker 2: those who might be feeling some pain right now. But

489
00:21:34,160 --> 00:21:37,959
Speaker 2: these ill advised investments, you know, banking on rents increasing

490
00:21:38,080 --> 00:21:40,199
Speaker 2: at the historic rates that we've seen and buying a

491
00:21:40,240 --> 00:21:43,479
Speaker 2: home or buying an apartment complex based on that notion, well,

492
00:21:43,520 --> 00:21:45,840
Speaker 2: it's just unwise. This is again just this is the

493
00:21:45,840 --> 00:21:48,000
Speaker 2: invisible hand. This is just a part of how the

494
00:21:48,040 --> 00:21:50,840
Speaker 2: free markets work. And even though on an individual level,

495
00:21:50,840 --> 00:21:53,600
Speaker 2: I'm sad to see anybody suffer when it comes to

496
00:21:53,640 --> 00:21:56,040
Speaker 2: their finances, this is overall a healthy thing.

497
00:21:56,160 --> 00:21:59,440
Speaker 1: Yeah, exactly, it's kind of market cleansing. How that works, right,

498
00:21:59,480 --> 00:22:04,600
Speaker 1: and just banking on prior results or recent results continuing

499
00:22:04,680 --> 00:22:06,720
Speaker 1: into the future in perpetuity or even just for the

500
00:22:06,760 --> 00:22:09,359
Speaker 1: next few years. Like you have to make sure you

501
00:22:09,400 --> 00:22:10,679
Speaker 1: have some reserves. You have to be a little bit

502
00:22:10,720 --> 00:22:13,440
Speaker 1: of conservative. Video projections, and I think some people were

503
00:22:13,680 --> 00:22:16,400
Speaker 1: too bullish in their product projections. Just like we talked

504
00:22:16,400 --> 00:22:18,399
Speaker 1: about just the opposite when it came to the stock market,

505
00:22:18,400 --> 00:22:22,720
Speaker 1: people were too reserved in their projections. And so yeah,

506
00:22:22,840 --> 00:22:25,200
Speaker 1: I guess the moral of the story here is don't

507
00:22:25,200 --> 00:22:28,440
Speaker 1: count your chickens before they hatch, to not be too

508
00:22:28,480 --> 00:22:30,960
Speaker 1: extreme in one way or the other. So and even

509
00:22:31,280 --> 00:22:34,119
Speaker 1: we're all for investing in real estate, but do it

510
00:22:34,160 --> 00:22:36,119
Speaker 1: with cash reserves. They're going to help you get through

511
00:22:36,119 --> 00:22:39,240
Speaker 1: crunch times. Let's talk about electric vehicles for a second, Matt.

512
00:22:39,400 --> 00:22:41,520
Speaker 1: It feels like things are changing on the EV front

513
00:22:41,760 --> 00:22:43,840
Speaker 1: on an almost weekly basis, Like we could talk about

514
00:22:43,840 --> 00:22:47,000
Speaker 1: EV's every week on the show, because especially when we're

515
00:22:47,000 --> 00:22:49,520
Speaker 1: talking about the federal tax credit, which has this massive

516
00:22:49,520 --> 00:22:52,640
Speaker 1: impact on the affordability of a lot of those EV

517
00:22:52,760 --> 00:22:57,040
Speaker 1: models and every Tesla Model three, for instance, their cheapest

518
00:22:57,040 --> 00:23:00,640
Speaker 1: card that Tesla sells now qualifies for the seventy five

519
00:23:00,720 --> 00:23:03,560
Speaker 1: hundred dollars credit again, which is great and it really

520
00:23:03,760 --> 00:23:09,280
Speaker 1: changes kind of the dynamic in the cheap EV new marketplace.

521
00:23:09,920 --> 00:23:11,879
Speaker 1: But some folks are saying, by the way that leasing

522
00:23:11,920 --> 00:23:14,280
Speaker 1: an EV makes the most sense. I guess the question

523
00:23:14,359 --> 00:23:15,119
Speaker 1: is is that true?

524
00:23:15,480 --> 00:23:15,720
Speaker 2: Matt.

525
00:23:15,760 --> 00:23:18,119
Speaker 1: You and I we never really have fond things to

526
00:23:18,119 --> 00:23:21,600
Speaker 1: say about leasing a car because typically we equate it

527
00:23:21,640 --> 00:23:24,560
Speaker 1: to paying for lifestyle. You're you're not make exactly a

528
00:23:24,600 --> 00:23:27,840
Speaker 1: savvy financial move. You're paying for something nice and for

529
00:23:28,000 --> 00:23:30,200
Speaker 1: to be able to get a new car every two

530
00:23:30,240 --> 00:23:33,160
Speaker 1: or three years. You're not necessarily doing it to save money.

531
00:23:33,200 --> 00:23:37,440
Speaker 1: You're doing it to enjoy the car you drive. But yeah,

532
00:23:37,480 --> 00:23:39,320
Speaker 1: if you know that going into it, and you make

533
00:23:39,359 --> 00:23:41,480
Speaker 1: that choice consciously, I mean, do your thing. That's our

534
00:23:41,680 --> 00:23:44,880
Speaker 1: that's our stance. But we would never lease a car.

535
00:23:45,040 --> 00:23:49,160
Speaker 1: Although leasing an EV it's a little bit different because

536
00:23:50,160 --> 00:23:52,840
Speaker 1: dealers can apply for the seventy five hundred dollars federal

537
00:23:52,880 --> 00:23:56,240
Speaker 1: credit when that EV is leased, making some of those

538
00:23:56,320 --> 00:23:59,920
Speaker 1: leases actually really moderately priced. So there's like a really

539
00:24:00,320 --> 00:24:03,360
Speaker 1: solid deal right now on Hyundai's Ionic five, for instance.

540
00:24:03,359 --> 00:24:05,439
Speaker 1: And like, if you want to go electric, but you

541
00:24:05,520 --> 00:24:07,439
Speaker 1: also don't want to wait for more models to hit

542
00:24:07,480 --> 00:24:10,199
Speaker 1: before you buy, Leasing an EV for the next two

543
00:24:10,320 --> 00:24:12,560
Speaker 1: or three years, it actually could be your best bet. Plus,

544
00:24:12,640 --> 00:24:15,360
Speaker 1: at the same time, we're seeing we're gonna see better

545
00:24:15,400 --> 00:24:19,320
Speaker 1: battery technology made Toyota announced their solid state EV batteries

546
00:24:19,359 --> 00:24:20,119
Speaker 1: coming down the pike in.

547
00:24:20,119 --> 00:24:20,720
Speaker 2: A few years.

548
00:24:20,800 --> 00:24:22,760
Speaker 1: So you lease for a few years, maybe you're getting

549
00:24:22,800 --> 00:24:24,920
Speaker 1: into a car instead of like that has two hundred

550
00:24:24,960 --> 00:24:28,000
Speaker 1: miles of range, one that has seven hundred miles of range.

551
00:24:28,080 --> 00:24:30,560
Speaker 2: Who knows, which would be a game changer. Yeah, I

552
00:24:30,560 --> 00:24:34,479
Speaker 2: can't believe that we are saying, yeah, you should consider leasing.

553
00:24:35,040 --> 00:24:37,760
Speaker 2: It's not something that I think even years ago that

554
00:24:37,800 --> 00:24:39,960
Speaker 2: we would have been like, yeah, we'll probably be saying

555
00:24:40,000 --> 00:24:42,560
Speaker 2: that here in the future. But just with the advancements

556
00:24:42,600 --> 00:24:44,919
Speaker 2: in technology that we're seeing, I think that has the

557
00:24:44,960 --> 00:24:49,159
Speaker 2: biggest impact on ev specifically, right like it. So it

558
00:24:49,160 --> 00:24:51,880
Speaker 2: makes me think of the technology advancements that we've seen

559
00:24:52,000 --> 00:24:54,480
Speaker 2: with like flat screens. When those jokers first came out,

560
00:24:54,560 --> 00:24:57,439
Speaker 2: they were so expensive. It's crazy expensive, right, And if

561
00:24:57,480 --> 00:24:59,480
Speaker 2: there is a deal, folks were lining up at the

562
00:24:59,520 --> 00:25:01,840
Speaker 2: door like a Black Friday sale. You've done that before,

563
00:25:01,840 --> 00:25:03,199
Speaker 2: you did that, like way back in the day, so

564
00:25:03,200 --> 00:25:04,879
Speaker 2: many years ago. People are like fighting each other to

565
00:25:04,880 --> 00:25:08,000
Speaker 2: get their hands on these on these flat screens.

566
00:25:08,600 --> 00:25:10,480
Speaker 1: But now I might have brawled with an old lady,

567
00:25:10,520 --> 00:25:11,640
Speaker 1: none of your business.

568
00:25:11,880 --> 00:25:14,520
Speaker 2: Pushed her down. I believe you did that. But now

569
00:25:14,560 --> 00:25:17,000
Speaker 2: look at the price of flat screen TVs. They're a

570
00:25:17,040 --> 00:25:19,399
Speaker 2: fraction of the cost. And not only that, but the

571
00:25:19,400 --> 00:25:22,160
Speaker 2: new ones, the technology like they are so much better

572
00:25:22,240 --> 00:25:24,320
Speaker 2: than the old ones, and I think we can think

573
00:25:24,359 --> 00:25:27,080
Speaker 2: about EV's in a similar way. Not that we're going

574
00:25:27,160 --> 00:25:30,760
Speaker 2: to see the prices come down drastically for brand new evs,

575
00:25:31,040 --> 00:25:33,600
Speaker 2: but because of the increase in technology, like you said,

576
00:25:33,640 --> 00:25:36,080
Speaker 2: maybe the battery technology, if the range gets to a

577
00:25:36,119 --> 00:25:38,639
Speaker 2: certain point, that's going to make these used evs even

578
00:25:39,040 --> 00:25:41,640
Speaker 2: more attractive. And for that reason, I think it could

579
00:25:41,640 --> 00:25:45,080
Speaker 2: make sense to not necessarily go out and purchase a

580
00:25:45,119 --> 00:25:47,000
Speaker 2: new EV and maybe consider the least.

581
00:25:47,080 --> 00:25:50,359
Speaker 1: We've already seen a lot of battery technology development. Like

582
00:25:50,359 --> 00:25:53,000
Speaker 1: think about the Nissan Leaf and the range was seventy miles.

583
00:25:53,080 --> 00:25:55,159
Speaker 1: Now the average range of a new EV is like

584
00:25:55,200 --> 00:25:58,600
Speaker 1: two twenty or something like that, and GM just talked

585
00:25:58,600 --> 00:26:00,000
Speaker 1: about I think that's part of the reason they're dis

586
00:26:00,040 --> 00:26:02,040
Speaker 1: continuing the Bolt for the time being. They've got new

587
00:26:02,080 --> 00:26:05,040
Speaker 1: and improved battery technology and the current BOLT doesn't have it.

588
00:26:05,320 --> 00:26:07,359
Speaker 2: I mean, there's a lot of a lot of movement

589
00:26:07,440 --> 00:26:08,880
Speaker 2: happening in the EV space.

590
00:26:08,680 --> 00:26:10,880
Speaker 1: And think about how much depreciation is going to happen

591
00:26:11,160 --> 00:26:14,920
Speaker 1: to those older evs because now they're substandard, right, And

592
00:26:15,040 --> 00:26:17,639
Speaker 1: so yeah, I think leasing might be the sweet spot

593
00:26:17,640 --> 00:26:18,480
Speaker 1: for EV's for a minute.

594
00:26:18,520 --> 00:26:21,560
Speaker 2: Yeah, it's like the auto industry has never seen a

595
00:26:21,720 --> 00:26:24,320
Speaker 2: rapid increase in like the kind of tech. Like normally,

596
00:26:24,359 --> 00:26:28,240
Speaker 2: the technology advancements within automobiles it's fairly incremental, right, Like

597
00:26:28,280 --> 00:26:30,679
Speaker 2: it's like, okay, we got power steering, now, all right,

598
00:26:30,720 --> 00:26:33,919
Speaker 2: we've got power brakes, airbags, crumple zones. All that kind

599
00:26:33,960 --> 00:26:36,160
Speaker 2: of stuff takes place over like decades and it's something

600
00:26:36,200 --> 00:26:39,480
Speaker 2: that can gradually be incorporated. Whereas now we're starting to

601
00:26:39,520 --> 00:26:41,960
Speaker 2: see that what's the principal More's law or is it

602
00:26:42,000 --> 00:26:44,440
Speaker 2: More's law? Just with the advancements in technology just coming

603
00:26:44,480 --> 00:26:47,160
Speaker 2: down the pike so quickly, and it's having a significant

604
00:26:47,160 --> 00:26:50,000
Speaker 2: impact on the price of vehicles. But if you do

605
00:26:50,080 --> 00:26:52,800
Speaker 2: want to buy an electric vehicle, don't forget that used

606
00:26:52,840 --> 00:26:55,679
Speaker 2: evs under twenty five thousand dollars. If you purchase it

607
00:26:55,720 --> 00:26:59,040
Speaker 2: from a dealer, it still qualifies for a four thousand

608
00:26:59,080 --> 00:27:01,440
Speaker 2: dollars credit. If you want to buy something older, I

609
00:27:01,440 --> 00:27:03,480
Speaker 2: think the sweet spots it's finding a decent one that

610
00:27:03,520 --> 00:27:08,120
Speaker 2: costs twelve thousand dollars because that's the basically the it's

611
00:27:08,119 --> 00:27:10,240
Speaker 2: got to be at least twelve thousand dollars, right, because

612
00:27:10,280 --> 00:27:13,200
Speaker 2: then the credit makes it effectively eight thousand dollars once

613
00:27:13,240 --> 00:27:13,639
Speaker 2: you buy.

614
00:27:13,520 --> 00:27:14,880
Speaker 1: It cheaper when you still get the credit, but it's

615
00:27:14,880 --> 00:27:15,280
Speaker 1: reduced to.

616
00:27:15,400 --> 00:27:17,000
Speaker 2: It's a smaller amount. So that's kind of like you

617
00:27:17,040 --> 00:27:18,399
Speaker 2: have to spend at least that much to get the

618
00:27:18,400 --> 00:27:21,480
Speaker 2: full four And those models are you know they are

619
00:27:21,480 --> 00:27:24,520
Speaker 2: going to have limited range, So only do this if

620
00:27:24,560 --> 00:27:26,960
Speaker 2: it works for how it is that you drive. One

621
00:27:27,000 --> 00:27:28,680
Speaker 2: other thing to mention on the EV front, we maybe

622
00:27:28,680 --> 00:27:31,320
Speaker 2: should have mentioned this way. We're talking about insurance earlier.

623
00:27:31,800 --> 00:27:34,920
Speaker 2: But they will save you money on gas and maintenance.

624
00:27:34,920 --> 00:27:37,880
Speaker 2: But there's also no free lunch because they are more

625
00:27:37,920 --> 00:27:41,879
Speaker 2: expensive to ensure. While the Tesla Model three it's a

626
00:27:41,880 --> 00:27:43,840
Speaker 2: solid deal for a new car, it's going to cost

627
00:27:43,880 --> 00:27:47,000
Speaker 2: you more to ensure. It's technically about twenty percent more

628
00:27:47,280 --> 00:27:51,880
Speaker 2: then it's gas powered equivalents. In fact, Tesla it looks

629
00:27:51,880 --> 00:27:55,040
Speaker 2: like they're only second to Maserati and how much it

630
00:27:55,080 --> 00:27:58,359
Speaker 2: costs to ensure, which is it's ridiculous. And the reason

631
00:27:58,400 --> 00:28:01,800
Speaker 2: for this is because the cost of replacing a battery

632
00:28:02,000 --> 00:28:05,040
Speaker 2: when an EV is in a wreck. Evidently this costs

633
00:28:05,119 --> 00:28:09,040
Speaker 2: are astronomical. So EV's are pretty cool. We like to

634
00:28:09,080 --> 00:28:10,919
Speaker 2: talk about them. It seems like that they are the

635
00:28:10,960 --> 00:28:13,600
Speaker 2: future of automobiles. Make sure that you call your insurance

636
00:28:13,640 --> 00:28:15,800
Speaker 2: company before you buy one. You don't. You want to

637
00:28:15,840 --> 00:28:17,399
Speaker 2: make sure that you don't get blindsided and that you

638
00:28:17,440 --> 00:28:20,560
Speaker 2: are taking all of the costs associated with car ownership.

639
00:28:20,600 --> 00:28:22,960
Speaker 2: In this case, ev car ownership into account.

640
00:28:23,080 --> 00:28:24,480
Speaker 1: Yeah, you buy that car and then you call up

641
00:28:24,520 --> 00:28:27,000
Speaker 1: your insurance company and you're like, wait, this costs twice

642
00:28:27,000 --> 00:28:27,560
Speaker 1: as much as.

643
00:28:27,480 --> 00:28:29,280
Speaker 2: The switch it over.

644
00:28:29,359 --> 00:28:31,880
Speaker 1: They're like, oh, this is going to be way, way more. Yeah,

645
00:28:31,920 --> 00:28:33,760
Speaker 1: so make the call first for sure. All right, And

646
00:28:34,080 --> 00:28:36,639
Speaker 1: one last story, Matt, We're all about discount m V

647
00:28:36,760 --> 00:28:39,360
Speaker 1: and O companies, which are mobile virtual network operators for

648
00:28:39,440 --> 00:28:41,880
Speaker 1: the discount cell phone providers. We talk about them all time,

649
00:28:41,920 --> 00:28:43,600
Speaker 1: all the time on the show as a great way

650
00:28:43,640 --> 00:28:46,280
Speaker 1: for people to pair back their monthly bills. Yep, you

651
00:28:46,360 --> 00:28:48,480
Speaker 1: and I we both use Mint, and there's other great

652
00:28:48,520 --> 00:28:50,680
Speaker 1: ones to do. It's a ton Google five is one

653
00:28:50,720 --> 00:28:52,680
Speaker 1: of the best, especially if you travel a lot internationally.

654
00:28:52,920 --> 00:28:55,280
Speaker 1: But there's a new company that wants to make it

655
00:28:55,400 --> 00:28:59,000
Speaker 1: free to get cel phone service. Legit free at least

656
00:28:59,040 --> 00:29:02,200
Speaker 1: at talking text portion. So what's the catch Because you

657
00:29:02,240 --> 00:29:04,200
Speaker 1: just said there's no free lunch, So people are like,

658
00:29:04,200 --> 00:29:06,000
Speaker 1: what's going on here? Well, you've got to put up

659
00:29:06,040 --> 00:29:07,680
Speaker 1: with some ads if you want to get this free.

660
00:29:07,680 --> 00:29:10,720
Speaker 2: Hey, this is America after all, Like we're gonna shove

661
00:29:10,760 --> 00:29:11,880
Speaker 2: some advertisement.

662
00:29:11,400 --> 00:29:14,240
Speaker 1: Sous right face skillboards everywhere as all over the place.

663
00:29:14,400 --> 00:29:16,080
Speaker 1: It's kind of part of how we get pre content.

664
00:29:16,120 --> 00:29:18,240
Speaker 1: And you know what, I don't hate it because again

665
00:29:18,320 --> 00:29:20,200
Speaker 1: it means we get a lot of free content. And

666
00:29:20,360 --> 00:29:23,000
Speaker 1: there's also a skip button on podcasts, which is nice.

667
00:29:23,600 --> 00:29:23,800
Speaker 2: True.

668
00:29:23,880 --> 00:29:26,680
Speaker 1: But text now is the new company and they're going

669
00:29:26,720 --> 00:29:29,200
Speaker 1: to send you a SIM card for five bucks and

670
00:29:29,280 --> 00:29:33,320
Speaker 1: every month you'll get free unlimited talking text in perpetuity

671
00:29:33,920 --> 00:29:37,000
Speaker 1: just for watching those ads. They also offer plans with data,

672
00:29:37,440 --> 00:29:40,280
Speaker 1: but that data is really expensive actually, so one gig

673
00:29:40,320 --> 00:29:43,120
Speaker 1: starts at nine dollars, So if you need any data,

674
00:29:43,160 --> 00:29:45,440
Speaker 1: you're still better off with a company like mint Mobile.

675
00:29:45,640 --> 00:29:47,600
Speaker 1: But I love this exists, and it might be the

676
00:29:47,600 --> 00:29:50,280
Speaker 1: perfect thing, especially for parents who have kids and they're

677
00:29:50,280 --> 00:29:52,080
Speaker 1: saying I don't really want them to have any data

678
00:29:52,160 --> 00:29:53,920
Speaker 1: or anything like that, but man, I'd love it if

679
00:29:53,960 --> 00:29:56,280
Speaker 1: they could call me, if they could text me, And

680
00:29:56,320 --> 00:29:58,560
Speaker 1: so getting an old phone, getting one of these five

681
00:29:58,600 --> 00:30:01,280
Speaker 1: dollars sims from text now turning them loose in the neighborhood.

682
00:30:01,320 --> 00:30:03,000
Speaker 1: You're going to feel a little more comfortable then knowing

683
00:30:03,040 --> 00:30:05,080
Speaker 1: that they can reach you, but that you're also not

684
00:30:05,120 --> 00:30:08,160
Speaker 1: paying money every single month for just kind of that

685
00:30:08,200 --> 00:30:08,840
Speaker 1: basic plan.

686
00:30:09,120 --> 00:30:10,520
Speaker 2: I'm with you, and I like that you said that

687
00:30:10,600 --> 00:30:12,200
Speaker 2: you don't hate it, and that's how I feel. I

688
00:30:12,240 --> 00:30:15,320
Speaker 2: don't hate it, but I also don't love it, especially

689
00:30:15,640 --> 00:30:18,400
Speaker 2: if you're talking about like from a from a kid's standpoint.

690
00:30:18,440 --> 00:30:20,800
Speaker 2: It's it's the same reason why I wouldn't necessarily get

691
00:30:20,840 --> 00:30:23,320
Speaker 2: what's the free TV with the with the ad bar

692
00:30:24,600 --> 00:30:27,080
Speaker 2: We talked about that with Telly or something like that. Yeah,

693
00:30:27,120 --> 00:30:29,480
Speaker 2: but I'm glad that it exists for folks who are

694
00:30:29,520 --> 00:30:30,400
Speaker 2: willing to give it a shot.

695
00:30:30,520 --> 00:30:32,520
Speaker 1: Yeah, And there's a lot of things I'll do to

696
00:30:32,520 --> 00:30:35,160
Speaker 1: save money, and I will I will listen to ads

697
00:30:35,200 --> 00:30:37,080
Speaker 1: to save money, and I'm okay with that. So if

698
00:30:37,120 --> 00:30:39,200
Speaker 1: it means I don't have to pay for something most

699
00:30:39,200 --> 00:30:42,040
Speaker 1: of the time, unless it's just absurd, unless it's completely

700
00:30:42,080 --> 00:30:44,680
Speaker 1: over the top, I'm down with some ads to get

701
00:30:44,720 --> 00:30:46,480
Speaker 1: that content that I like that I want to listen

702
00:30:46,480 --> 00:30:49,960
Speaker 1: to or watch for free. But Matt, that's going to

703
00:30:50,000 --> 00:30:52,360
Speaker 1: do it for this episode. Folks can find show notes

704
00:30:52,400 --> 00:30:55,680
Speaker 1: for this episode up on our website at howtomoney dot com.

705
00:30:55,760 --> 00:30:58,360
Speaker 2: That's right, man, So until next time, best friends Out

706
00:30:58,400 --> 00:31:10,240
Speaker 2: and best friends Out The only