1 00:00:00,120 --> 00:00:02,920 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt, 2 00:00:03,040 --> 00:00:06,880 Speaker 1: and today we're discussing CANNI being credit bureaus, pet repossessions, 3 00:00:07,160 --> 00:00:29,440 Speaker 1: and van life woes. And by van life woes, you 4 00:00:29,440 --> 00:00:32,400 Speaker 1: mean hashtag van life kind of live the hashtag life. 5 00:00:33,520 --> 00:00:35,479 Speaker 1: That's right. This is our Friday flight where we are 6 00:00:35,520 --> 00:00:37,800 Speaker 1: going to talk about the most important stories that we 7 00:00:37,840 --> 00:00:40,520 Speaker 1: came across this week. But first we wanted to mention 8 00:00:40,560 --> 00:00:44,440 Speaker 1: the winners of the book giveaway. We picked five random 9 00:00:44,440 --> 00:00:49,120 Speaker 1: subscribers to the newly launched newsletter that started this past week, 10 00:00:49,200 --> 00:00:53,800 Speaker 1: and so Addie M, Zach s Ahmad A, Lauren Kay, 11 00:00:53,880 --> 00:00:57,720 Speaker 1: and Jamie Z. You should all be receiving an email 12 00:00:57,760 --> 00:01:00,560 Speaker 1: from us asking for your mailing address. I didn't see 13 00:01:00,560 --> 00:01:04,680 Speaker 1: your full names because privacy is important, but we wanted 14 00:01:04,720 --> 00:01:07,240 Speaker 1: to to let see you five and everyone else who 15 00:01:07,240 --> 00:01:09,959 Speaker 1: subscribed UH know that we are thankful for you. We 16 00:01:09,959 --> 00:01:12,560 Speaker 1: are really excited about how this newsletter has kicked off, 17 00:01:12,600 --> 00:01:15,200 Speaker 1: and we're hoping to get into your inbox in the 18 00:01:15,200 --> 00:01:17,880 Speaker 1: weeks to come. That's right, We've got good feedback already 19 00:01:17,880 --> 00:01:20,600 Speaker 1: from a lot of listeners who enjoy that first edition. 20 00:01:20,959 --> 00:01:23,880 Speaker 1: There's more to come. The second Edition hits on Tuesday 21 00:01:23,959 --> 00:01:27,520 Speaker 1: and every Tuesdayay Africa, they're after for the rest of eternity. 22 00:01:27,560 --> 00:01:29,080 Speaker 1: I think we will have a Had of Money newsletter. 23 00:01:29,120 --> 00:01:30,320 Speaker 1: What was that show? I think it is on USA. 24 00:01:30,360 --> 00:01:32,959 Speaker 1: It was like Morning Edition. No, that's a that's like 25 00:01:33,000 --> 00:01:34,759 Speaker 1: an NPR show. What was the There was a show 26 00:01:34,800 --> 00:01:37,800 Speaker 1: where the guy would get the newspaper tomorrow's newspaper that day, 27 00:01:37,959 --> 00:01:40,200 Speaker 1: and there's like the whole premise was he had to 28 00:01:40,560 --> 00:01:44,560 Speaker 1: like say people slides. I don't remember what that was called. Yeah, 29 00:01:44,720 --> 00:01:46,160 Speaker 1: I think I also shot my mom. Like when you 30 00:01:46,160 --> 00:01:48,360 Speaker 1: say edition, that's when it makes me think about the newspaper. 31 00:01:48,520 --> 00:01:51,400 Speaker 1: Either way, if you have not yet subscribed, head over 32 00:01:51,440 --> 00:01:54,320 Speaker 1: to how the Money dot com forward slash newsletter. You 33 00:01:54,360 --> 00:01:57,440 Speaker 1: can sign up there and hear from us there in 34 00:01:57,520 --> 00:01:59,560 Speaker 1: your inbox. But before we get to our stories, I 35 00:01:59,600 --> 00:02:01,760 Speaker 1: wanted to show a quick little story for folks, um 36 00:02:01,800 --> 00:02:04,120 Speaker 1: and that is if you are a homeowner where you 37 00:02:04,160 --> 00:02:06,120 Speaker 1: live in a house, I want you to pay attention 38 00:02:06,120 --> 00:02:08,640 Speaker 1: to the trees around your house, not just your house, 39 00:02:08,919 --> 00:02:11,120 Speaker 1: but the actual trees as well. And I say this 40 00:02:11,200 --> 00:02:14,000 Speaker 1: because a neighbor of ours they've had this tree in 41 00:02:14,040 --> 00:02:16,680 Speaker 1: their yard. It's had vines growing up it for years. 42 00:02:17,160 --> 00:02:18,959 Speaker 1: I can't remember the last time that it leafed out 43 00:02:19,120 --> 00:02:21,960 Speaker 1: and actually looked like it was alive. Um, and they 44 00:02:22,000 --> 00:02:25,320 Speaker 1: had been working towards trying to get that thing taken down, 45 00:02:25,720 --> 00:02:29,120 Speaker 1: but they hadn't yet. And you know where this is going. Uh, 46 00:02:29,280 --> 00:02:33,160 Speaker 1: recently we had a storm, some wind and it blew 47 00:02:33,200 --> 00:02:35,240 Speaker 1: that tree over and this was a big tree, and 48 00:02:35,280 --> 00:02:38,600 Speaker 1: it crushed their house. Luckily nobody was hurt, but definitely 49 00:02:38,680 --> 00:02:40,200 Speaker 1: poked a big old hole in the roof. I mean 50 00:02:40,200 --> 00:02:41,679 Speaker 1: it like crushed the roof and I don't know, it 51 00:02:41,720 --> 00:02:44,080 Speaker 1: may have caused some other structural damage as well. The 52 00:02:44,120 --> 00:02:45,720 Speaker 1: reason they didn't take it down, I think they were 53 00:02:45,720 --> 00:02:47,960 Speaker 1: working with the other neighbors to try to see how 54 00:02:47,960 --> 00:02:49,640 Speaker 1: they could maybe split the cost because it was on 55 00:02:49,680 --> 00:02:51,880 Speaker 1: the like the property line or whatever. But either way, 56 00:02:51,880 --> 00:02:54,720 Speaker 1: they took too long and now they have to deal 57 00:02:54,720 --> 00:02:56,919 Speaker 1: with the headache there. They're having to deal with insurance, 58 00:02:56,960 --> 00:02:58,600 Speaker 1: They're having to deal with a hole in the roof 59 00:02:58,600 --> 00:03:00,320 Speaker 1: that you know, there might be water damage re single 60 00:03:00,360 --> 00:03:03,280 Speaker 1: time at rains and I'm sure they did use their insurance, 61 00:03:03,280 --> 00:03:05,519 Speaker 1: so it's likely being paid for. But what that means 62 00:03:05,840 --> 00:03:08,480 Speaker 1: is that they're likely going to have higher future premiums 63 00:03:08,800 --> 00:03:11,600 Speaker 1: annual premiums for their homeowners insurance that maybe they got 64 00:03:11,680 --> 00:03:14,040 Speaker 1: kicked off of their current plan. But all that to say, 65 00:03:14,080 --> 00:03:16,120 Speaker 1: all of that could have been avoided just by getting 66 00:03:16,200 --> 00:03:18,720 Speaker 1: arbors out there, getting a tree company to take that 67 00:03:18,760 --> 00:03:21,000 Speaker 1: thing down ahead of time. And so I think the 68 00:03:21,600 --> 00:03:25,000 Speaker 1: moral of the story is show some maintenance, show some 69 00:03:25,080 --> 00:03:27,200 Speaker 1: love not only to your house, but your your property 70 00:03:27,200 --> 00:03:30,160 Speaker 1: as well. Pay attention to the trees to avoid some 71 00:03:30,240 --> 00:03:32,320 Speaker 1: of these financial headaches down the road. I thought you 72 00:03:32,360 --> 00:03:33,760 Speaker 1: were going to say the moral of the story is 73 00:03:33,760 --> 00:03:36,200 Speaker 1: trees are nuisance and we should cut them all down down. 74 00:03:36,240 --> 00:03:37,360 Speaker 1: I was going to pretend to be the lower ax 75 00:03:37,480 --> 00:03:39,960 Speaker 1: over here and trees. We love old trees. I mean 76 00:03:39,960 --> 00:03:42,160 Speaker 1: we've got I mean in our backyard, we've got to 77 00:03:42,560 --> 00:03:44,840 Speaker 1: at least a hundred year old water oaks. I don't know. 78 00:03:44,960 --> 00:03:46,640 Speaker 1: I mean, they seem to be in great health, but 79 00:03:46,800 --> 00:03:50,640 Speaker 1: they are massive, they're a little bit scary. We love them. Uh. 80 00:03:50,640 --> 00:03:52,440 Speaker 1: And they also helped to keep the house cool a 81 00:03:52,480 --> 00:03:54,640 Speaker 1: little bit too. Yeah they do. I love the big 82 00:03:54,680 --> 00:04:00,520 Speaker 1: old trees around here. And you, yeah, exactly. And well 83 00:04:00,520 --> 00:04:02,040 Speaker 1: you just said about keeping the house cool makes me 84 00:04:02,040 --> 00:04:03,520 Speaker 1: think of our first story. So let's move on. Let's 85 00:04:03,520 --> 00:04:06,040 Speaker 1: get to our Friday flights and it's just sampling of 86 00:04:06,240 --> 00:04:08,240 Speaker 1: stories we found interesting this week and how they pertain 87 00:04:08,280 --> 00:04:11,400 Speaker 1: to your personal finances. And the first story we wanted 88 00:04:11,440 --> 00:04:14,520 Speaker 1: to cover is about eliminating some of those energy costs 89 00:04:14,600 --> 00:04:17,039 Speaker 1: from your life and plant a bunch of trees. Plant 90 00:04:17,080 --> 00:04:20,040 Speaker 1: a bunch of trees. The trees down is one way 91 00:04:20,080 --> 00:04:22,880 Speaker 1: to do it well. Vox had an interesting article this 92 00:04:22,920 --> 00:04:26,280 Speaker 1: week about the power of insulation and they're basically saying 93 00:04:26,279 --> 00:04:29,560 Speaker 1: that it can help fight climate change, and while that 94 00:04:29,640 --> 00:04:31,920 Speaker 1: might be true, it can also be a big money 95 00:04:31,920 --> 00:04:35,760 Speaker 1: saver for you while simultaneously making your home more comfortable, 96 00:04:35,800 --> 00:04:37,920 Speaker 1: like you're talking about their mat like a nice shade tree. 97 00:04:38,320 --> 00:04:41,360 Speaker 1: But they state in the article that buildings are responsible 98 00:04:41,400 --> 00:04:45,320 Speaker 1: for more than of the energy consumption in the US, 99 00:04:45,400 --> 00:04:48,040 Speaker 1: and that more than half of that goes to heating 100 00:04:48,360 --> 00:04:51,360 Speaker 1: and cooling those buildings. So it's a big waste of energy, right, 101 00:04:51,400 --> 00:04:54,599 Speaker 1: heating and cooling of the little boxes that we live in. Uh. 102 00:04:54,920 --> 00:04:58,000 Speaker 1: Central heating and air are obviously wonderful inventions, like I 103 00:04:58,000 --> 00:05:00,400 Speaker 1: don't want them to go away, especially in the middle 104 00:05:00,440 --> 00:05:04,120 Speaker 1: of Atlanta summers. Right, that air conditioning makes living here 105 00:05:04,560 --> 00:05:08,680 Speaker 1: in the middle of August parable, But insulating your home 106 00:05:08,680 --> 00:05:10,680 Speaker 1: well is a big part of making your heating and 107 00:05:10,680 --> 00:05:13,560 Speaker 1: cooling more efficient and less costly. So that's one of 108 00:05:13,560 --> 00:05:15,520 Speaker 1: those things where, Yeah, pay attention to your trees, make 109 00:05:15,560 --> 00:05:17,200 Speaker 1: sure that you don't have a dead one that's about 110 00:05:17,200 --> 00:05:18,840 Speaker 1: to fall in fall in your house. That's even more 111 00:05:18,839 --> 00:05:22,960 Speaker 1: important than insulation. But but then insulating your home well, 112 00:05:23,400 --> 00:05:27,160 Speaker 1: it's an upgrade that will save you money for months 113 00:05:27,200 --> 00:05:29,640 Speaker 1: and years to come. Yeah. Absolutely, I feel like this 114 00:05:29,680 --> 00:05:31,440 Speaker 1: is probably the least sexy story we can talk about 115 00:05:31,480 --> 00:05:33,080 Speaker 1: right now. Like, right now, everybody wants to talk about 116 00:05:33,080 --> 00:05:35,160 Speaker 1: Elon Musk and let's talk about Twitter. This is like 117 00:05:35,200 --> 00:05:37,760 Speaker 1: the opposite of we talked about that at all. Well, 118 00:05:37,839 --> 00:05:40,720 Speaker 1: it's not really. It's not really a financial implication there 119 00:05:41,279 --> 00:05:44,200 Speaker 1: as it pertains to us as individuals. If you, at 120 00:05:44,240 --> 00:05:46,360 Speaker 1: a personal level, if you had fifty billion dollars, would 121 00:05:46,360 --> 00:05:48,680 Speaker 1: you buy Twitter? If I had fifty billion, if I 122 00:05:48,680 --> 00:05:51,680 Speaker 1: had more than fifty billion. Maybe I was listening to 123 00:05:51,720 --> 00:05:53,880 Speaker 1: somebody who had mentioned that it's almost like buying a 124 00:05:54,080 --> 00:05:55,760 Speaker 1: like a basketball team. They're thinking, what else am I 125 00:05:55,800 --> 00:05:57,880 Speaker 1: gonna do with all of this money? But uh, yeah, 126 00:05:57,920 --> 00:06:00,440 Speaker 1: maybe I would. Who knows, Yeah, I guess I started 127 00:06:00,440 --> 00:06:02,760 Speaker 1: asking the question, why don't I buy the fifteenth most 128 00:06:02,760 --> 00:06:05,680 Speaker 1: popular social media site? Why not? Um? But we are 129 00:06:05,680 --> 00:06:09,120 Speaker 1: talking about installation, and I think this is worth bringing up, 130 00:06:09,240 --> 00:06:11,080 Speaker 1: you know, especially as we're nearing some of the warmer 131 00:06:11,080 --> 00:06:13,240 Speaker 1: months of the year. But the great thing is that 132 00:06:13,279 --> 00:06:15,680 Speaker 1: adding installation to your home. First of all, it's not 133 00:06:15,800 --> 00:06:19,599 Speaker 1: terribly difficult, nor is it expensive, right, and that one 134 00:06:19,600 --> 00:06:22,239 Speaker 1: time act of putting some installation in your addic can 135 00:06:22,360 --> 00:06:25,599 Speaker 1: have significant impacts on your utility bills for for years 136 00:06:25,640 --> 00:06:27,400 Speaker 1: to come. One of the things I love about it, 137 00:06:27,440 --> 00:06:29,600 Speaker 1: you I mean literally, it's like setting it and forgetting 138 00:06:29,600 --> 00:06:31,520 Speaker 1: it right. You don't have to you know, we're talking 139 00:06:31,560 --> 00:06:33,800 Speaker 1: about sexy technology Elon Musk. It makes me think of 140 00:06:33,839 --> 00:06:35,960 Speaker 1: like Tesla. It makes me think about like solar panels 141 00:06:36,000 --> 00:06:38,000 Speaker 1: and like the Tesla home batteries and all of that stuff. 142 00:06:38,320 --> 00:06:41,880 Speaker 1: Installation is so much better that like like this dumb 143 00:06:41,920 --> 00:06:44,039 Speaker 1: tech is is so much better. Like you don't have 144 00:06:44,080 --> 00:06:46,680 Speaker 1: to worry about your installation getting hacked. You don't have 145 00:06:46,720 --> 00:06:48,919 Speaker 1: to worry about your insulation, like a software update for 146 00:06:49,000 --> 00:06:52,800 Speaker 1: your for your installation, it's not dependent on other technologies. 147 00:06:53,160 --> 00:06:55,640 Speaker 1: Uh and so I think this is one way that's 148 00:06:55,640 --> 00:06:59,040 Speaker 1: something that is so incredibly basic can easily get overlooked. 149 00:06:59,320 --> 00:07:02,040 Speaker 1: I saw that some estimates say that nine of American 150 00:07:02,040 --> 00:07:05,800 Speaker 1: homes don't have enough installation. So chances are that you 151 00:07:06,040 --> 00:07:08,520 Speaker 1: are in that camp yourself. Uh And so you can 152 00:07:08,560 --> 00:07:10,920 Speaker 1: go to the d I Y installation route um or 153 00:07:11,000 --> 00:07:12,680 Speaker 1: you can pay a company to show up and to 154 00:07:12,720 --> 00:07:15,120 Speaker 1: do the work for you. Obviously, you're gonna save more 155 00:07:15,160 --> 00:07:18,560 Speaker 1: money if you tackle this project yourself. But don't forget 156 00:07:18,560 --> 00:07:21,640 Speaker 1: to see if your utility company, if your power company, 157 00:07:21,720 --> 00:07:25,160 Speaker 1: will pay you to make your home more energy efficient, 158 00:07:25,160 --> 00:07:27,600 Speaker 1: because many of them will. Our power company, Georgia Power, 159 00:07:27,640 --> 00:07:31,440 Speaker 1: they offer a two and fifty dollar rebates or credit 160 00:07:31,680 --> 00:07:35,080 Speaker 1: towards addic installation. It won't cover the entire cost, but 161 00:07:35,120 --> 00:07:37,280 Speaker 1: it's a big help, especially if you do it yourself. 162 00:07:37,360 --> 00:07:39,440 Speaker 1: I don't know what the cost of installation is these days. 163 00:07:39,480 --> 00:07:42,559 Speaker 1: I have not purchased it myself recently, but I'm guessing 164 00:07:42,560 --> 00:07:44,720 Speaker 1: if you live in a moderately sized home, I'm guessing 165 00:07:44,760 --> 00:07:47,040 Speaker 1: you can buy a good amount of the pink stuff 166 00:07:47,120 --> 00:07:49,720 Speaker 1: for for two fifty bucks. Right man, That stuff does 167 00:07:49,800 --> 00:07:52,240 Speaker 1: the job in most cases, you don't have to even 168 00:07:52,280 --> 00:07:55,360 Speaker 1: go with the fancy like spray foam installation, which which 169 00:07:55,400 --> 00:07:57,400 Speaker 1: is nice. It just it's gonna cost you a good bit. 170 00:07:57,400 --> 00:07:59,600 Speaker 1: More like, Yeah, I love watching the videos of that stuff, 171 00:07:59,600 --> 00:08:01,320 Speaker 1: like when they're applying it and then you get to 172 00:08:01,320 --> 00:08:03,800 Speaker 1: watch it experience. Right, It's fun. It's fun. That's the 173 00:08:03,840 --> 00:08:05,440 Speaker 1: kind of stuff I know. It out on. It's cool, 174 00:08:05,480 --> 00:08:08,480 Speaker 1: cool products. And I hope that as they're building homes. 175 00:08:08,520 --> 00:08:09,960 Speaker 1: That's one of the biggest things in these happened. As 176 00:08:09,960 --> 00:08:11,920 Speaker 1: we're building new homes, we need to make them much 177 00:08:11,960 --> 00:08:14,560 Speaker 1: more energy efficient, just to to cut down on some 178 00:08:14,600 --> 00:08:17,960 Speaker 1: of the waste from heating and cooling homes. But Matt, 179 00:08:18,040 --> 00:08:20,840 Speaker 1: let's move on. Let's talk about van life, because there 180 00:08:20,920 --> 00:08:23,240 Speaker 1: was an article that made me think this week that 181 00:08:23,320 --> 00:08:25,960 Speaker 1: maybe van life is a bit overrated. One of the 182 00:08:26,000 --> 00:08:28,000 Speaker 1: first interviews, do you remember this that we did on 183 00:08:28,040 --> 00:08:30,280 Speaker 1: How the Money was with a couple who spent years 184 00:08:30,320 --> 00:08:31,920 Speaker 1: on the road traveling the country in a van they 185 00:08:31,960 --> 00:08:36,319 Speaker 1: built themselves Chris and Chris, Chris and Christie close though 186 00:08:36,760 --> 00:08:39,280 Speaker 1: remember they had the same name, yea well, and it 187 00:08:39,360 --> 00:08:41,160 Speaker 1: sounded like fun as they were like regaling us with 188 00:08:41,200 --> 00:08:44,480 Speaker 1: their stories in the Instagram photos they posted made it 189 00:08:44,520 --> 00:08:47,559 Speaker 1: look even more romantic. And actually just saw that they're 190 00:08:47,559 --> 00:08:49,400 Speaker 1: they're getting off the road. So they've been doing it 191 00:08:49,440 --> 00:08:52,040 Speaker 1: for years. I saw that too. What is their handle? 192 00:08:52,120 --> 00:08:54,960 Speaker 1: I forget? Wasn't it life opted out? I believe yea yeah, yeah, 193 00:08:54,960 --> 00:08:58,120 Speaker 1: they had like a whole angle of how they're approaching life. Yes, 194 00:08:58,160 --> 00:09:00,800 Speaker 1: and so now they're settling down. But they had a 195 00:09:00,800 --> 00:09:03,199 Speaker 1: good run, I think while it lasted. And uh. In 196 00:09:03,200 --> 00:09:06,199 Speaker 1: a New York Times article this week, painted a hilariously 197 00:09:06,440 --> 00:09:08,600 Speaker 1: bleak picture of what it's like to be in the 198 00:09:08,600 --> 00:09:12,520 Speaker 1: ban Most of us were used to seeing only the highlights, 199 00:09:12,559 --> 00:09:15,400 Speaker 1: only the sunsets, only the good stuff. Well, the author 200 00:09:15,480 --> 00:09:18,760 Speaker 1: in this piece readily admitted that she's likely the world 201 00:09:18,880 --> 00:09:21,360 Speaker 1: worst driver, so maybe it wasn't the best fit to 202 00:09:21,360 --> 00:09:23,240 Speaker 1: be living in a van, living in a home that 203 00:09:23,280 --> 00:09:26,560 Speaker 1: you drive around yourself. But she actually documented how difficult 204 00:09:26,600 --> 00:09:29,120 Speaker 1: it was for for her to assemble the bed in 205 00:09:29,200 --> 00:09:31,360 Speaker 1: the tent on top of the van at night, the 206 00:09:31,720 --> 00:09:34,760 Speaker 1: difficulty of cooking meals with the wind whipping around, and 207 00:09:34,760 --> 00:09:37,160 Speaker 1: then the frustrations of being stuck in bumper to bumper 208 00:09:37,240 --> 00:09:40,960 Speaker 1: traffic in a place like Yosemite, National Park and so um, yeah, 209 00:09:40,960 --> 00:09:43,160 Speaker 1: it's not unlike what they were used to at home, 210 00:09:43,520 --> 00:09:46,240 Speaker 1: with a lot of frustrations popping up. It's funny, remember 211 00:09:46,280 --> 00:09:48,400 Speaker 1: when we talked to Christie and Christie and they talked 212 00:09:48,400 --> 00:09:50,840 Speaker 1: about some of those outdoor meals or it gets dark 213 00:09:50,880 --> 00:09:54,640 Speaker 1: and you're still trying to do some things, and yeah, 214 00:09:54,679 --> 00:09:57,240 Speaker 1: the pictures make it look perfect, but in reality it's 215 00:09:57,320 --> 00:09:59,200 Speaker 1: it's far from it. Yeah, I remember they did. They 216 00:09:59,200 --> 00:10:02,559 Speaker 1: didn't paint like overly idyllic picture. That was actually I 217 00:10:02,600 --> 00:10:04,440 Speaker 1: looked at up. That was back in episode seventy eight, 218 00:10:04,480 --> 00:10:05,960 Speaker 1: so that was a while. Again, it was, but they 219 00:10:06,000 --> 00:10:08,840 Speaker 1: were real about the difficulties of living life full time 220 00:10:08,880 --> 00:10:10,920 Speaker 1: on the road. I remember specifically one of the stories 221 00:10:10,920 --> 00:10:13,200 Speaker 1: they share. They're talking about how important it is to 222 00:10:13,240 --> 00:10:16,720 Speaker 1: find a level place to park because otherwise they're like 223 00:10:16,720 --> 00:10:18,800 Speaker 1: waking up just like smashing into each other on what 224 00:10:18,920 --> 00:10:21,240 Speaker 1: side of the van. But the biggest downside I think 225 00:10:21,240 --> 00:10:23,679 Speaker 1: to me would be the lack of just routine, just 226 00:10:23,720 --> 00:10:26,679 Speaker 1: the regularity, you know, being away from from community for 227 00:10:26,760 --> 00:10:29,360 Speaker 1: such an extended period of time. But I think it's 228 00:10:29,440 --> 00:10:33,640 Speaker 1: just so easy to idealize and even to idolize something 229 00:10:33,800 --> 00:10:37,200 Speaker 1: like van life if you only follow the hashtag pictures 230 00:10:37,240 --> 00:10:40,720 Speaker 1: of of the youths wandering around the country, taking in 231 00:10:40,880 --> 00:10:44,280 Speaker 1: the sunsets in their veins, avoiding any sort of you know, 232 00:10:44,360 --> 00:10:47,560 Speaker 1: normal office work. And I think the reality of leaving 233 00:10:47,760 --> 00:10:49,679 Speaker 1: a normal life and you know, leaving that in the dust, 234 00:10:49,760 --> 00:10:52,200 Speaker 1: it could be more difficult. I think the takeaway here 235 00:10:52,240 --> 00:10:55,880 Speaker 1: is that finding happiness, like it's not as simple as 236 00:10:55,960 --> 00:10:59,080 Speaker 1: hitting the road in and traveling in the country. Um. 237 00:10:59,080 --> 00:11:00,840 Speaker 1: Taking that further, I think it's definitely not as easy 238 00:11:00,840 --> 00:11:02,720 Speaker 1: as just maybe buying the latest gadget or you know, 239 00:11:03,160 --> 00:11:05,720 Speaker 1: the latest thing that Amazon suggests to you. It's gonna 240 00:11:05,720 --> 00:11:08,920 Speaker 1: take some some real hardcore introspection. Uh, And it's not 241 00:11:08,960 --> 00:11:11,400 Speaker 1: as simple as just following whatever hashtag you know that 242 00:11:11,480 --> 00:11:13,920 Speaker 1: might be showing up in your feed. Personal happiness is 243 00:11:13,960 --> 00:11:17,320 Speaker 1: not just of hashtag van life ride away. It's not 244 00:11:17,360 --> 00:11:20,000 Speaker 1: a products, it's not necessarily a lifestyle, that's right. So 245 00:11:20,360 --> 00:11:22,040 Speaker 1: it made me think I actually have another story we 246 00:11:22,120 --> 00:11:24,679 Speaker 1: read this week that was written by Joshua Becker. He's 247 00:11:24,760 --> 00:11:29,040 Speaker 1: the becoming Minimalist guy, and he writes about kind of time, money, 248 00:11:29,040 --> 00:11:31,840 Speaker 1: and happiness on occasion because those are that's kind of 249 00:11:31,840 --> 00:11:33,640 Speaker 1: place He lives in and so I think that the 250 00:11:33,720 --> 00:11:35,959 Speaker 1: root of some of these desires to live this life, 251 00:11:36,160 --> 00:11:38,439 Speaker 1: to ditch the mainstream is thinking that it's going to 252 00:11:38,520 --> 00:11:41,520 Speaker 1: bring us greater happiness, Like having some of those experiences 253 00:11:41,840 --> 00:11:43,680 Speaker 1: is going to turn us into the people that we 254 00:11:43,760 --> 00:11:46,560 Speaker 1: want to be. And I think this is why according 255 00:11:46,559 --> 00:11:50,559 Speaker 1: to a recent study, seventy folks think that more money 256 00:11:50,559 --> 00:11:54,080 Speaker 1: equals more happiness. And in that article Joshua Becker he 257 00:11:54,120 --> 00:11:57,040 Speaker 1: proposed but basically it's actually it's actually more time that's 258 00:11:57,040 --> 00:11:59,760 Speaker 1: going to lead to more happiness. Time actually might be 259 00:12:00,160 --> 00:12:04,040 Speaker 1: the greater currency of happiness. It's not dollars. And it 260 00:12:04,120 --> 00:12:06,320 Speaker 1: comes down to what you plan to do with that time. 261 00:12:06,320 --> 00:12:08,000 Speaker 1: Of course, right if you if you pour it into 262 00:12:08,120 --> 00:12:11,800 Speaker 1: important relationships and into meaningful work, then you're more likely 263 00:12:11,800 --> 00:12:14,360 Speaker 1: to have a higher quality of life. That's according to 264 00:12:14,360 --> 00:12:16,880 Speaker 1: another recent study in Harvard Business Review. But if you 265 00:12:16,920 --> 00:12:19,880 Speaker 1: spend time, if you if you find a way to 266 00:12:20,040 --> 00:12:22,280 Speaker 1: a crew more time, and then you spend it endlessly 267 00:12:22,320 --> 00:12:25,600 Speaker 1: scrolling like buying buying crap you don't need, perusing your 268 00:12:25,600 --> 00:12:28,680 Speaker 1: favorite websites for more things to fill your closet when 269 00:12:28,720 --> 00:12:31,120 Speaker 1: it's already mostly full. Then all the time in the 270 00:12:31,120 --> 00:12:33,280 Speaker 1: world isn't gonna make you happier either. I think that's 271 00:12:33,400 --> 00:12:35,920 Speaker 1: an important thing to note. I think that's an important 272 00:12:35,920 --> 00:12:39,600 Speaker 1: conversation for us to have as money guys. And we 273 00:12:39,640 --> 00:12:41,160 Speaker 1: want people to get better with their money. We want 274 00:12:41,160 --> 00:12:42,920 Speaker 1: people to save more, we want people to build wealth. 275 00:12:43,160 --> 00:12:44,559 Speaker 1: But at the same time, if you think too much 276 00:12:44,559 --> 00:12:48,440 Speaker 1: about that, if accruing more and more money becomes the 277 00:12:48,559 --> 00:12:51,040 Speaker 1: number one thing in your life, you're missing out on 278 00:12:51,080 --> 00:12:53,280 Speaker 1: the things that actually make life worth living. Yeah, you 279 00:12:53,280 --> 00:12:55,520 Speaker 1: don't want to to make money in and of itself 280 00:12:55,679 --> 00:12:58,080 Speaker 1: the the end, right Like, it's a means to an end. 281 00:12:58,120 --> 00:12:59,560 Speaker 1: And I do think a lot of folks might be 282 00:12:59,559 --> 00:13:01,200 Speaker 1: listening to the and they're like, man, why why are 283 00:13:01,280 --> 00:13:03,800 Speaker 1: these dudes talking so much about happiness? That's kind of weird. 284 00:13:04,679 --> 00:13:07,040 Speaker 1: But we we truly do see money as a tool, right, Like, 285 00:13:07,080 --> 00:13:09,680 Speaker 1: we're not talking about how you can spend as little 286 00:13:09,679 --> 00:13:11,559 Speaker 1: money as possible, or how you can earn as much 287 00:13:11,559 --> 00:13:14,760 Speaker 1: money as possible, or or how smartly you can invest 288 00:13:14,760 --> 00:13:17,360 Speaker 1: your money. It's not about the money in and of itself. 289 00:13:17,520 --> 00:13:19,000 Speaker 1: It's what you choose to do with that money. In 290 00:13:19,040 --> 00:13:20,920 Speaker 1: a similar way, it's what you choose to do with 291 00:13:21,080 --> 00:13:23,800 Speaker 1: your time because we're all trying to to a certain extent, 292 00:13:23,960 --> 00:13:26,280 Speaker 1: we're all seeking happiness. Uh, and so we want you 293 00:13:26,360 --> 00:13:30,760 Speaker 1: to make these purchases and these decisions well aware as 294 00:13:30,800 --> 00:13:33,840 Speaker 1: to what it is that you're actually seeking after oftentime, 295 00:13:33,920 --> 00:13:36,680 Speaker 1: that takes um introspection. It takes some time to really 296 00:13:36,679 --> 00:13:38,640 Speaker 1: figure that out. We we actually it is probably a 297 00:13:38,640 --> 00:13:40,360 Speaker 1: good time to actually mention again that we have a 298 00:13:40,360 --> 00:13:42,840 Speaker 1: resource on the website where people can do some of 299 00:13:42,840 --> 00:13:45,560 Speaker 1: the introspection. We actually help ask some questions. It's a 300 00:13:45,559 --> 00:13:48,439 Speaker 1: two page print out, and if you spend thirty minutes 301 00:13:48,440 --> 00:13:50,920 Speaker 1: with that, I think it will be helpful in in 302 00:13:51,440 --> 00:13:54,600 Speaker 1: showing you what truly matters, what you actually value, and 303 00:13:54,600 --> 00:13:57,200 Speaker 1: then helping align your money and your life. And so yeah, 304 00:13:57,200 --> 00:13:58,760 Speaker 1: well we'll link to that in the show. No absolutely, 305 00:13:58,800 --> 00:14:01,800 Speaker 1: it's our HTM Money Mission statement. Will link to that, Joe. 306 00:14:01,840 --> 00:14:04,760 Speaker 1: While we're talking about happiness, a recent gallop Pole reports 307 00:14:04,800 --> 00:14:09,800 Speaker 1: that more Americans are pessimistic about their finances. Naturally, inflation 308 00:14:09,880 --> 00:14:12,400 Speaker 1: has a lot to do with this, but it is 309 00:14:12,600 --> 00:14:15,640 Speaker 1: worth pointing out that we are not necessarily closer to 310 00:14:15,679 --> 00:14:18,360 Speaker 1: a recession just because a lot of folks are bummed 311 00:14:18,360 --> 00:14:22,080 Speaker 1: about the higher prices that we're all experiencing. We talked 312 00:14:22,120 --> 00:14:25,000 Speaker 1: about the potential for a recession a couple of weeks ago, 313 00:14:25,360 --> 00:14:27,800 Speaker 1: and you know, who knows whether or not we will 314 00:14:27,840 --> 00:14:31,800 Speaker 1: actually enter one. But news this week it did reflect 315 00:14:31,840 --> 00:14:35,240 Speaker 1: a decline in GDP and the gross domestic product. So 316 00:14:35,280 --> 00:14:36,920 Speaker 1: you're here in that our word being thrown around more 317 00:14:36,920 --> 00:14:38,800 Speaker 1: because of it. It's true. Yeah, yeah, for the first 318 00:14:38,880 --> 00:14:42,080 Speaker 1: quarter of this year. And so remember it takes two 319 00:14:42,200 --> 00:14:45,960 Speaker 1: quarters of a declining GDP that's the definition of being 320 00:14:46,120 --> 00:14:48,560 Speaker 1: in a recession. But here's the thing. The main driver 321 00:14:48,760 --> 00:14:51,760 Speaker 1: of this negative GDP figure was the fact that we 322 00:14:51,840 --> 00:14:56,480 Speaker 1: are importing so many things because consumer demand remains high. 323 00:14:56,600 --> 00:14:59,880 Speaker 1: We've got a tremendous amount of cash on hand still uh, 324 00:15:00,040 --> 00:15:02,280 Speaker 1: we are buying stuff left, left and right. The job 325 00:15:02,320 --> 00:15:04,480 Speaker 1: market it is still incredibly healthy. It does not look 326 00:15:04,520 --> 00:15:07,640 Speaker 1: like we are currently entering a recession, even though, like 327 00:15:07,720 --> 00:15:10,400 Speaker 1: I think, what had happened here is that these rising prices, 328 00:15:10,440 --> 00:15:13,040 Speaker 1: it sparks a fear of our session and so it 329 00:15:13,080 --> 00:15:15,400 Speaker 1: kind of goes around. There's a what is the Google 330 00:15:15,560 --> 00:15:17,280 Speaker 1: sort of report where they're able to to tell you 331 00:15:17,320 --> 00:15:19,840 Speaker 1: what folks have been searching recently. I don't know, but 332 00:15:19,880 --> 00:15:23,400 Speaker 1: recession was it piques like a couple of weeks ago, actually, 333 00:15:23,400 --> 00:15:25,480 Speaker 1: And so I don't think it's any coincidence that you 334 00:15:25,560 --> 00:15:29,760 Speaker 1: see that that term coinciding with what people are experiencing 335 00:15:29,760 --> 00:15:31,720 Speaker 1: and they think something bigger might be on the horizon. 336 00:15:31,960 --> 00:15:34,160 Speaker 1: And while it's worth us kind of keeping tabs on that, 337 00:15:34,240 --> 00:15:37,280 Speaker 1: it is not something that you want to over consume 338 00:15:37,320 --> 00:15:39,440 Speaker 1: yourself with. And you remember in that episode we talked 339 00:15:39,440 --> 00:15:41,840 Speaker 1: about the fact that a personal recession can happen at 340 00:15:41,880 --> 00:15:45,080 Speaker 1: any time, and that's right. You want to focus on 341 00:15:45,120 --> 00:15:47,600 Speaker 1: what it is that you can control. It's crucial no 342 00:15:47,640 --> 00:15:50,640 Speaker 1: matter what's happening in the overall broader economy. So that's 343 00:15:50,640 --> 00:15:52,840 Speaker 1: something to be aware of, like, yeah, are we gonna 344 00:15:52,960 --> 00:15:56,000 Speaker 1: enter into a recession? Potentially? Could we avoid it? Sure? 345 00:15:56,720 --> 00:15:59,160 Speaker 1: So we'll keep talking about kind of what's happening in 346 00:15:59,160 --> 00:16:01,720 Speaker 1: the broader accounting, but but we focus even more on 347 00:16:01,760 --> 00:16:03,800 Speaker 1: what you can do in your own personal life exactly 348 00:16:03,800 --> 00:16:07,600 Speaker 1: to short things up in case things go awry macroeconomically 349 00:16:07,760 --> 00:16:10,680 Speaker 1: or you know, in the micro version in your own homes. Right, 350 00:16:10,720 --> 00:16:12,600 Speaker 1: So all right, man, we've got more stories to get to, 351 00:16:12,720 --> 00:16:17,080 Speaker 1: including one about leasing animals. It's kind of weird and 352 00:16:17,200 --> 00:16:18,920 Speaker 1: it's actually illegal in a lot of places. We'll talk 353 00:16:18,920 --> 00:16:20,880 Speaker 1: about that in just a minute right after this break. 354 00:16:29,960 --> 00:16:32,040 Speaker 1: All right, we're back. We're gonna continue with our Friday flight. 355 00:16:32,080 --> 00:16:34,320 Speaker 1: I feel like we got deep in the first half 356 00:16:34,360 --> 00:16:36,680 Speaker 1: of this episode, but just so you know, we're gonna 357 00:16:36,680 --> 00:16:40,320 Speaker 1: get to some very easier to digest practical Everything we 358 00:16:40,360 --> 00:16:42,040 Speaker 1: talk about here, we try for it to be practical, 359 00:16:42,080 --> 00:16:45,360 Speaker 1: but maybe easier to to actually implement. Yeah, we waited 360 00:16:45,360 --> 00:16:49,200 Speaker 1: into some of that Arthur Brooks territory happiness exactly, So 361 00:16:49,240 --> 00:16:53,000 Speaker 1: we're happy is guru. But we we're gonna talk about cryptocurrencies. 362 00:16:53,000 --> 00:16:54,840 Speaker 1: We're gonna talk about some credit cards here later on. 363 00:16:54,920 --> 00:16:57,680 Speaker 1: But first let's get to our ludicrous headline of the week. 364 00:16:58,200 --> 00:17:00,760 Speaker 1: That's when comes from the New York Times and it reads, 365 00:17:01,200 --> 00:17:05,560 Speaker 1: the Federal Consumer Bureau sued Trains Union and a former 366 00:17:05,560 --> 00:17:09,440 Speaker 1: executive over deceptive sales tactics. And the t l d 367 00:17:09,720 --> 00:17:12,840 Speaker 1: R of this ludicrous headline is that trans Union sucks. 368 00:17:13,480 --> 00:17:17,840 Speaker 1: That the CFPV the Consumer Financial Protection Bureau. They're going 369 00:17:17,920 --> 00:17:20,399 Speaker 1: after not just the company, not just trans Union itself, 370 00:17:20,440 --> 00:17:24,320 Speaker 1: but even a former employee who was instrumental himself in 371 00:17:24,359 --> 00:17:28,320 Speaker 1: tricking individuals into signing up for recurring monthly fees, specifically 372 00:17:28,600 --> 00:17:32,840 Speaker 1: to buy unnecessary products that fattened trans Union's wallet while 373 00:17:32,840 --> 00:17:35,679 Speaker 1: providing very little service to their customers, folks who are 374 00:17:35,680 --> 00:17:38,119 Speaker 1: just looking for a free credit report. They ended up 375 00:17:38,119 --> 00:17:41,400 Speaker 1: accidentally signing up for things like paid credit monitoring, which 376 00:17:41,480 --> 00:17:44,080 Speaker 1: you know, we all know is basically worthless. Even the 377 00:17:44,200 --> 00:17:46,880 Speaker 1: free monitoring is basically unnecessary as well, because we all 378 00:17:46,920 --> 00:17:50,840 Speaker 1: have the guarantee federal access to actually freezing our credit 379 00:17:50,920 --> 00:17:52,600 Speaker 1: for free. That's that's the term that you want to 380 00:17:52,640 --> 00:17:54,040 Speaker 1: keep in mind. You want to freeze your credit. You 381 00:17:54,080 --> 00:17:56,040 Speaker 1: don't want to lock it, you don't want it monitored, 382 00:17:56,200 --> 00:17:58,480 Speaker 1: You want it frozen if you're looking to protect your credit. 383 00:17:58,840 --> 00:18:00,359 Speaker 1: So all I can say is that the credit beers 384 00:18:00,359 --> 00:18:02,520 Speaker 1: should be held to account when they break the law. 385 00:18:02,560 --> 00:18:03,879 Speaker 1: And so it's a it's a good thing that the 386 00:18:03,880 --> 00:18:06,800 Speaker 1: CFPB is on the scene. And as a reminder, we 387 00:18:06,840 --> 00:18:08,600 Speaker 1: do have a resource. We We've got an article up 388 00:18:08,600 --> 00:18:10,840 Speaker 1: on the side that will link to that explains how 389 00:18:10,880 --> 00:18:14,080 Speaker 1: it is that you can legitimately free your credit for free. 390 00:18:14,119 --> 00:18:15,800 Speaker 1: And Matt, how long does it take people to do that? 391 00:18:15,880 --> 00:18:18,600 Speaker 1: I've literally taught myself before we share this, like maybe 392 00:18:18,680 --> 00:18:21,280 Speaker 1: last year a couple of like five minutes. Literally, I 393 00:18:21,280 --> 00:18:23,160 Speaker 1: think I was able to do all three because I've 394 00:18:23,160 --> 00:18:25,000 Speaker 1: got all my password saved and all that. I think 395 00:18:25,000 --> 00:18:26,800 Speaker 1: I could do each one in under one minute. So 396 00:18:26,920 --> 00:18:30,040 Speaker 1: if someone literally take if someone out there says, oh, man, yeah, 397 00:18:30,080 --> 00:18:31,960 Speaker 1: I'd love to do that, it's gonna be a waste 398 00:18:32,000 --> 00:18:34,360 Speaker 1: of my time. I'm really busy. That's not a good 399 00:18:34,359 --> 00:18:37,040 Speaker 1: excuse because this really does take basically no time. And 400 00:18:37,080 --> 00:18:40,040 Speaker 1: what the hassle I can prevent in your life is meaningful. 401 00:18:40,119 --> 00:18:42,359 Speaker 1: We can save you from a big pain in the 402 00:18:42,400 --> 00:18:44,720 Speaker 1: neck if someone does open credit as if they were 403 00:18:44,720 --> 00:18:47,560 Speaker 1: with you trying and steal your identity. So follow through 404 00:18:47,600 --> 00:18:49,800 Speaker 1: with that. Free your credit doesn't cost you a dime. 405 00:18:49,880 --> 00:18:54,119 Speaker 1: And yeah, TransUnion, stop screwing people over and trying to 406 00:18:54,160 --> 00:18:56,080 Speaker 1: get them to sign up for things that cost twenty 407 00:18:56,080 --> 00:18:59,119 Speaker 1: five bucks a month that are basically worth zero dollars. 408 00:18:59,520 --> 00:19:01,720 Speaker 1: All right, Matt, Let's talk about something else that we 409 00:19:01,720 --> 00:19:04,760 Speaker 1: don't like at all, and it is leasing an animal. 410 00:19:05,359 --> 00:19:09,159 Speaker 1: And so we're not talking about like workhorses, where this 411 00:19:09,240 --> 00:19:12,040 Speaker 1: is like a business equipment. It might be different if 412 00:19:12,040 --> 00:19:14,680 Speaker 1: you're plowing fields and you need a beast of burden, 413 00:19:14,720 --> 00:19:16,240 Speaker 1: it would will help you with that task. And it 414 00:19:16,280 --> 00:19:18,280 Speaker 1: had to have been a hundred years ago. But even then, 415 00:19:18,320 --> 00:19:19,960 Speaker 1: I don't was leasing even a thing. I don't Others 416 00:19:20,119 --> 00:19:22,280 Speaker 1: tractors and there's a modern machinery to help you with 417 00:19:22,320 --> 00:19:24,480 Speaker 1: that task. But attractors today like drive themselves. Man, have 418 00:19:24,480 --> 00:19:27,880 Speaker 1: you seen these things? Self driving? Okay? Uses ai? I mean, 419 00:19:28,640 --> 00:19:30,639 Speaker 1: I believe it. It sounds like it sounds like the 420 00:19:30,680 --> 00:19:33,479 Speaker 1: future is here. But one of the one of the 421 00:19:33,520 --> 00:19:35,359 Speaker 1: things that this is less about beast of burden, and 422 00:19:35,359 --> 00:19:37,720 Speaker 1: this was mostly actually about There was an article in 423 00:19:37,760 --> 00:19:43,520 Speaker 1: Forbes about leasing pets, leasing animals, and really, in any situation, 424 00:19:43,640 --> 00:19:48,080 Speaker 1: leasing things is often a bad idea. It's not something 425 00:19:48,080 --> 00:19:50,080 Speaker 1: that we like but you and usually we're talking about 426 00:19:50,160 --> 00:19:53,080 Speaker 1: leasing a car, which is something we're not big fans of, 427 00:19:53,200 --> 00:19:55,920 Speaker 1: But leasing an animal seems like an even worse thing 428 00:19:56,280 --> 00:19:59,719 Speaker 1: because it turns out that dog leases are a real thing, 429 00:19:59,760 --> 00:20:01,720 Speaker 1: which I didn't know about. Telling of this article, I 430 00:20:01,760 --> 00:20:03,960 Speaker 1: was like, I thought people just bought their animals, or 431 00:20:04,119 --> 00:20:05,400 Speaker 1: you know, maybe they put it on a credit card 432 00:20:05,480 --> 00:20:07,520 Speaker 1: or something like that. But there's no chance of getting 433 00:20:07,520 --> 00:20:10,879 Speaker 1: your animal repossessed, is there? Well, it turns out. It 434 00:20:10,880 --> 00:20:13,439 Speaker 1: turns out there is it's a legal lease by like 435 00:20:13,480 --> 00:20:16,040 Speaker 1: you said dog leases and like you immediately think a 436 00:20:16,119 --> 00:20:18,479 Speaker 1: dog leash, like, oh yeah, dog leashes are out there, 437 00:20:18,560 --> 00:20:21,960 Speaker 1: No no dog leases. Well, so this is illegal and 438 00:20:22,000 --> 00:20:24,960 Speaker 1: a handful of states, but forty two states still allow 439 00:20:25,040 --> 00:20:28,800 Speaker 1: this practice, and the Attorney General of Massachusetts is cracking 440 00:20:28,840 --> 00:20:31,040 Speaker 1: down on some of these companies who are still offering 441 00:20:31,080 --> 00:20:33,560 Speaker 1: to leash you a dog. But be aware of anyone 442 00:20:33,600 --> 00:20:36,000 Speaker 1: telling you that you can pay for a new animal 443 00:20:36,119 --> 00:20:39,399 Speaker 1: or you know, your new best friend in installments. You know, 444 00:20:39,440 --> 00:20:41,200 Speaker 1: we want you to pay for your animal in full 445 00:20:41,280 --> 00:20:43,680 Speaker 1: at the time of purchase anyway, and you could get 446 00:20:43,720 --> 00:20:47,520 Speaker 1: hoodwinked into leasing that new new pup, and we we 447 00:20:47,520 --> 00:20:49,119 Speaker 1: we don't want you to do that. And by the way, 448 00:20:49,320 --> 00:20:51,480 Speaker 1: if you're trying to buy some sort of expensive animal 449 00:20:51,560 --> 00:20:54,840 Speaker 1: that you can't afford, look to adopt a rescue instead, 450 00:20:54,920 --> 00:20:57,679 Speaker 1: and usually you can do that really inexpensively. Matt, we 451 00:20:58,520 --> 00:21:02,680 Speaker 1: rescue too. It's from a place not too far away, 452 00:21:02,720 --> 00:21:05,439 Speaker 1: and it cost us like fifty dollars total, and they 453 00:21:05,440 --> 00:21:07,840 Speaker 1: sent us home with like food and a carrier and 454 00:21:07,880 --> 00:21:10,760 Speaker 1: all the bog It was cheap. Man it was cheap 455 00:21:10,800 --> 00:21:13,080 Speaker 1: to get those animals, and so I just want to say, like, 456 00:21:13,240 --> 00:21:15,159 Speaker 1: if you're looking for one of these specialty animals that 457 00:21:15,240 --> 00:21:16,919 Speaker 1: cost a lot of money and you're gonna do some 458 00:21:16,960 --> 00:21:19,520 Speaker 1: sort of lease to purchase thing, well there's a chance 459 00:21:19,560 --> 00:21:21,960 Speaker 1: if you miss your payment, they're gonna come snag your pet. 460 00:21:22,280 --> 00:21:24,800 Speaker 1: And which is that sounds horrific. That sounds terrific, So 461 00:21:24,880 --> 00:21:26,879 Speaker 1: make sure you've got the money. It sounds brutal, man Like, 462 00:21:26,880 --> 00:21:29,200 Speaker 1: it's gotta be hard enough to have like your car repossessed, 463 00:21:29,280 --> 00:21:31,520 Speaker 1: but like that's one thing, but to actually have, like 464 00:21:31,840 --> 00:21:33,400 Speaker 1: a lot of people would say that is a member 465 00:21:33,440 --> 00:21:36,520 Speaker 1: of their family taken away, like that sounds pretty traumatic. 466 00:21:37,040 --> 00:21:39,119 Speaker 1: I did getting some like mental pictures of what that 467 00:21:39,119 --> 00:21:41,119 Speaker 1: could look like with like a young child on the 468 00:21:41,119 --> 00:21:43,320 Speaker 1: front porch having the animal ripped out of their hands. 469 00:21:43,720 --> 00:21:45,280 Speaker 1: I will say so back in the day, but when 470 00:21:45,320 --> 00:21:46,960 Speaker 1: like when Kate and I were thinking about getting a 471 00:21:47,000 --> 00:21:49,320 Speaker 1: dog pre kids, we would go to the dog park 472 00:21:49,359 --> 00:21:51,720 Speaker 1: and sit there and we're there like those weirdos that 473 00:21:51,720 --> 00:21:53,679 Speaker 1: would show up and like look at dogs, and but 474 00:21:53,840 --> 00:21:55,360 Speaker 1: I feel like we were just doing doing our due 475 00:21:55,359 --> 00:21:57,520 Speaker 1: diligence where we were talking to owners getting to know 476 00:21:57,640 --> 00:22:00,920 Speaker 1: like the temperaments of different animals. So first of all, 477 00:22:00,920 --> 00:22:02,399 Speaker 1: I want to recommend that because I think that's a 478 00:22:02,440 --> 00:22:04,520 Speaker 1: smart way to go if you're considering a dog. But 479 00:22:04,560 --> 00:22:06,680 Speaker 1: we could always joke about how man, I really wish 480 00:22:06,720 --> 00:22:08,720 Speaker 1: we had a dog now, and then when we joke 481 00:22:08,760 --> 00:22:12,600 Speaker 1: about actually having like a dog rental business where it's like, Okay, 482 00:22:12,760 --> 00:22:15,800 Speaker 1: you show up to the corner all these dogs right here. Uh, 483 00:22:16,040 --> 00:22:17,560 Speaker 1: you pick which one you want, but they all need 484 00:22:17,600 --> 00:22:20,240 Speaker 1: to be walked, and you can just like walk around 485 00:22:20,240 --> 00:22:22,400 Speaker 1: the park. You've got a dog, you know, you play 486 00:22:22,440 --> 00:22:24,359 Speaker 1: with them, pet um, throw the ball some. But then 487 00:22:24,400 --> 00:22:26,040 Speaker 1: after that you're probably like, Okay, I think I want 488 00:22:26,040 --> 00:22:27,560 Speaker 1: to go home and kind of get back to my 489 00:22:27,720 --> 00:22:30,280 Speaker 1: normal life having you for a couple of hours. There 490 00:22:30,359 --> 00:22:33,119 Speaker 1: might be an actual business opportunity out there that doesn't 491 00:22:33,119 --> 00:22:36,440 Speaker 1: involve getting getting your your actual pet repossessed. Uh, Joel, 492 00:22:36,480 --> 00:22:39,520 Speaker 1: let's talk about how it looks like there is bitcoin 493 00:22:39,680 --> 00:22:41,280 Speaker 1: available to a lot of folks. In their four one 494 00:22:41,359 --> 00:22:44,560 Speaker 1: k so one of our favorite low cost investment houses, Fidelity, 495 00:22:44,840 --> 00:22:49,160 Speaker 1: they are allowing investors to put up of their retirement 496 00:22:49,160 --> 00:22:52,280 Speaker 1: dollars in bitcoin inside of their four own case they're 497 00:22:52,280 --> 00:22:54,320 Speaker 1: all could go wrong with this, A lot could go wrong. 498 00:22:54,359 --> 00:22:55,600 Speaker 1: There are a lot of things that can go wrong 499 00:22:55,840 --> 00:22:57,960 Speaker 1: when you allow people to invest money for retirement and 500 00:22:58,040 --> 00:23:02,000 Speaker 1: incredibly volatile assets like cryptocurrencies. But here's the thing. This 501 00:23:02,080 --> 00:23:03,800 Speaker 1: might surprise a lot of folks, but we're actually we're 502 00:23:03,840 --> 00:23:06,200 Speaker 1: kind of okay with this. Uh. We we tend to 503 00:23:06,240 --> 00:23:08,920 Speaker 1: air on the side of freedom, the ability to do 504 00:23:09,080 --> 00:23:11,480 Speaker 1: stupid things, even if it's not necessarily a good idea. 505 00:23:11,520 --> 00:23:13,760 Speaker 1: I think you should still have the option to do 506 00:23:13,840 --> 00:23:16,879 Speaker 1: that if you're a true American, my friend, Like, if 507 00:23:16,920 --> 00:23:18,640 Speaker 1: you want to go if you want to put on 508 00:23:18,680 --> 00:23:21,160 Speaker 1: a squirrel suit and go uh with it with the 509 00:23:21,400 --> 00:23:25,680 Speaker 1: glide diving or whatever whever it's call base jumping or yeah, 510 00:23:25,840 --> 00:23:27,600 Speaker 1: you know, like the squirrel suits whatever they're like flying 511 00:23:27,600 --> 00:23:29,199 Speaker 1: through the air, or if you you know, like go 512 00:23:29,280 --> 00:23:33,120 Speaker 1: mountain climbing without ropes like Alex Honold, Like, I don't 513 00:23:33,160 --> 00:23:36,560 Speaker 1: think that should necessarily be illegal. Uh. We want people 514 00:23:36,640 --> 00:23:38,359 Speaker 1: to know all the rules and to know what the 515 00:23:38,400 --> 00:23:41,320 Speaker 1: consequences are. But if that's something you're into, because there 516 00:23:41,320 --> 00:23:43,200 Speaker 1: you know, there's a chance that you will see outside 517 00:23:43,240 --> 00:23:46,239 Speaker 1: returns in crypto, you should be allowed to do that 518 00:23:46,680 --> 00:23:48,160 Speaker 1: I don't know if I agree with you on that 519 00:23:48,240 --> 00:23:51,000 Speaker 1: last thing. I'm not sure percent believe that that people 520 00:23:51,080 --> 00:23:54,160 Speaker 1: are likely to see outside returns in crypto seeing folks 521 00:23:54,160 --> 00:23:56,040 Speaker 1: are likely, but there's some people out there who who 522 00:23:56,119 --> 00:23:58,040 Speaker 1: might think that. Yeah, there are some people who who 523 00:23:58,160 --> 00:23:59,840 Speaker 1: definitely think that. There's some people who are sold out 524 00:23:59,840 --> 00:24:02,040 Speaker 1: to that. But I mean, I think I agree with 525 00:24:02,119 --> 00:24:04,440 Speaker 1: you because if you're if your foreign case with Fidelity 526 00:24:04,520 --> 00:24:07,119 Speaker 1: and you have that option later this year, that's fine. 527 00:24:07,200 --> 00:24:08,800 Speaker 1: It just doesn't mean that you need to be taking 528 00:24:08,800 --> 00:24:10,800 Speaker 1: advantage of it um and and there are a lot 529 00:24:10,800 --> 00:24:13,240 Speaker 1: of people who are most most people probably shouldn't wisely 530 00:24:13,240 --> 00:24:16,200 Speaker 1: going to avoid it. And so yeah, if you do decide, 531 00:24:16,280 --> 00:24:18,000 Speaker 1: if you your fore own case with Fidelity and your 532 00:24:18,000 --> 00:24:21,800 Speaker 1: employer allows this option, well it's probably smart to keep 533 00:24:21,840 --> 00:24:24,639 Speaker 1: your exposure minimal. We're talking five percent or less of 534 00:24:24,680 --> 00:24:27,679 Speaker 1: your overall investments. And so it's funny. I really like 535 00:24:27,800 --> 00:24:30,800 Speaker 1: Vanguard's statement on this. There are other favorite low cost 536 00:24:30,880 --> 00:24:33,919 Speaker 1: investment house and they said, and I quote, since cryptocurrencies 537 00:24:33,960 --> 00:24:37,360 Speaker 1: are highly speculative in their current states, Vanguard believes their 538 00:24:37,400 --> 00:24:40,880 Speaker 1: long term investment cases weak. And so we love both 539 00:24:40,880 --> 00:24:44,040 Speaker 1: of these companies but I tend to agree with Vanguard 540 00:24:44,040 --> 00:24:47,560 Speaker 1: on this. I have a very very small, minimal exposure 541 00:24:47,800 --> 00:24:50,080 Speaker 1: to the cryptocurrency market, but it is not something I'm 542 00:24:50,080 --> 00:24:52,199 Speaker 1: looking to add to and it is not something that 543 00:24:52,320 --> 00:24:55,879 Speaker 1: I am banking paying for my future retirement. This is 544 00:24:55,880 --> 00:24:58,639 Speaker 1: a slippery slope, and so I get why it's being offered, 545 00:24:58,760 --> 00:25:01,720 Speaker 1: but people need to try cautiously when they get the 546 00:25:01,760 --> 00:25:04,760 Speaker 1: ability to actually take advantage of this. Dude, speaking of crypto, 547 00:25:04,800 --> 00:25:07,399 Speaker 1: did you know that crypto mortgages are now a thing 548 00:25:07,440 --> 00:25:10,280 Speaker 1: as well? What is that involved? So? I mean, so 549 00:25:10,359 --> 00:25:13,720 Speaker 1: last year, folks have the ability to use digital currency 550 00:25:13,760 --> 00:25:16,000 Speaker 1: as a down payment, you know, with certain lenders. But 551 00:25:16,000 --> 00:25:19,280 Speaker 1: Bloomberg they reported that folks are now buying properties with 552 00:25:19,600 --> 00:25:22,600 Speaker 1: no money down. Uh, and the lenders they're they're specifically 553 00:25:22,640 --> 00:25:26,760 Speaker 1: dolling out loans based on that borrower's crypto holdings. So 554 00:25:26,800 --> 00:25:29,720 Speaker 1: they're using their cryptos collateral exactly, they're borrowing against it. 555 00:25:29,760 --> 00:25:32,840 Speaker 1: And so this is totally on the lender. I wouldn't 556 00:25:32,880 --> 00:25:34,959 Speaker 1: do it if I was the lender. I mean again, 557 00:25:34,960 --> 00:25:37,720 Speaker 1: this is an incredibly volatile asset, Like we're not even 558 00:25:37,720 --> 00:25:41,600 Speaker 1: looking to replace actual dollars with crypto, right, Like let alone, 559 00:25:41,840 --> 00:25:44,000 Speaker 1: Like some folks are now getting paid in it, but 560 00:25:44,080 --> 00:25:46,240 Speaker 1: now we're talking about taking it a step further where 561 00:25:46,280 --> 00:25:49,600 Speaker 1: you're actually borrowing against those holdings. And if you're putting 562 00:25:49,600 --> 00:25:52,719 Speaker 1: no money down on a home loan and you're just 563 00:25:52,840 --> 00:25:55,920 Speaker 1: banking on the collateral of your crypto portfolio, there's I'm 564 00:25:55,920 --> 00:25:58,960 Speaker 1: guessing there's gonna be a much higher likelihood that you 565 00:25:59,040 --> 00:26:01,600 Speaker 1: end up getting foreclosed on because you have no skin 566 00:26:01,640 --> 00:26:03,840 Speaker 1: in the game. And speak of card possessions and pet repost, 567 00:26:03,880 --> 00:26:06,560 Speaker 1: how about my house repo exactly what's called a foreclosure? 568 00:26:07,119 --> 00:26:09,680 Speaker 1: That sounds pretty rough too. Well, let's talk about credit 569 00:26:09,680 --> 00:26:13,440 Speaker 1: cards for a second map because merchant processing fees are 570 00:26:13,760 --> 00:26:17,520 Speaker 1: going up. Visa and MasterCard, those companies have done pretty 571 00:26:17,520 --> 00:26:20,679 Speaker 1: well from themselves. They make a nice living charging merchants 572 00:26:20,680 --> 00:26:23,320 Speaker 1: for the ability to take credit cards at their place 573 00:26:23,400 --> 00:26:26,840 Speaker 1: of business. It's basically an essential thing for almost any 574 00:26:26,880 --> 00:26:29,000 Speaker 1: business these days. Like if you try to go against 575 00:26:29,000 --> 00:26:31,960 Speaker 1: the grain and not accept credit cards, maybe some businesses 576 00:26:32,000 --> 00:26:33,960 Speaker 1: can get away with it, but most most folks will 577 00:26:34,000 --> 00:26:36,119 Speaker 1: walk away. Makes me think of when all the actually 578 00:26:36,160 --> 00:26:38,840 Speaker 1: transition to taking credit cards, and I was thrilled because 579 00:26:38,840 --> 00:26:40,800 Speaker 1: then I can use my m x blue cash prefer 580 00:26:40,800 --> 00:26:42,600 Speaker 1: to get that six percent at all. The even worse 581 00:26:42,680 --> 00:26:45,680 Speaker 1: before it was writing a check or using a debit 582 00:26:45,720 --> 00:26:52,320 Speaker 1: card and cards, but some people do. I don't know 583 00:26:52,359 --> 00:26:53,880 Speaker 1: the last time written to check. It's been a while. 584 00:26:53,960 --> 00:26:55,639 Speaker 1: We've talked about this. I know the last time I 585 00:26:55,680 --> 00:26:58,119 Speaker 1: did is for childcare because so many of the different 586 00:26:58,800 --> 00:27:01,639 Speaker 1: daycare centers and they're not really set up. And I 587 00:27:01,680 --> 00:27:03,800 Speaker 1: get it they're keeping their cost minimal, but a lot 588 00:27:03,840 --> 00:27:06,399 Speaker 1: of them oftentimes to our churches, and they're not really 589 00:27:06,440 --> 00:27:10,320 Speaker 1: necessarily looking to embrace the newest technology. And the swite fees. Actually, 590 00:27:10,320 --> 00:27:12,159 Speaker 1: they accounted for a grand total of a hundred and 591 00:27:12,240 --> 00:27:15,920 Speaker 1: thirty eight billion dollars in revenue last year's for these companies, 592 00:27:16,119 --> 00:27:17,920 Speaker 1: and it turns out that they're ramping up the fees 593 00:27:17,960 --> 00:27:21,000 Speaker 1: that they'll be charging most businesses even more. And the 594 00:27:21,000 --> 00:27:24,080 Speaker 1: credit card system here's the thing. It works great for 595 00:27:24,119 --> 00:27:26,679 Speaker 1: folks who pay off their credit cards in full and 596 00:27:26,760 --> 00:27:30,040 Speaker 1: on time each month. These s white fees, well, you're 597 00:27:30,040 --> 00:27:33,040 Speaker 1: actually getting better rewards because of the fact that merchants 598 00:27:33,040 --> 00:27:36,240 Speaker 1: are charged swite fees, and so they do mean that 599 00:27:36,280 --> 00:27:38,959 Speaker 1: everything we buy costs a little bit more. But smart 600 00:27:38,960 --> 00:27:41,919 Speaker 1: consumers still come out ahead because of those rewards, and 601 00:27:41,960 --> 00:27:44,240 Speaker 1: so the toughest thing, Matt, I hate that what I 602 00:27:44,240 --> 00:27:46,720 Speaker 1: hate is is some of the smaller businesses have the 603 00:27:46,760 --> 00:27:49,919 Speaker 1: toughest time absorbing these increases. They have to pass that 604 00:27:50,000 --> 00:27:51,880 Speaker 1: cost directly under their customer, or they have to try 605 00:27:51,880 --> 00:27:55,560 Speaker 1: to find other ways to to kind of gently coax 606 00:27:55,960 --> 00:27:59,359 Speaker 1: their customers into other forms of payments so that they 607 00:27:59,400 --> 00:28:02,479 Speaker 1: can avoid that expense. That's right. Otherwise that craft beer 608 00:28:02,520 --> 00:28:04,280 Speaker 1: that you used to getting it might cost a dollar 609 00:28:04,320 --> 00:28:07,879 Speaker 1: more the next time you get a dollar. Uh. Speaking 610 00:28:07,880 --> 00:28:10,119 Speaker 1: of credit cards, let's mention actually a couple of deals 611 00:28:10,119 --> 00:28:12,360 Speaker 1: that we saw this week, and the first one involves 612 00:28:12,440 --> 00:28:15,440 Speaker 1: a credit card sign up bonus, the Chase Sapphire Preferred Card. 613 00:28:15,440 --> 00:28:18,320 Speaker 1: That's one of our favorite travel specific credit cards. It 614 00:28:18,400 --> 00:28:21,080 Speaker 1: is just ramped up. It's slim up, offering to eighty 615 00:28:21,080 --> 00:28:24,639 Speaker 1: thousand points when you spend four thousand dollars within the 616 00:28:24,680 --> 00:28:27,199 Speaker 1: first three months. And so if you are in the 617 00:28:27,240 --> 00:28:29,480 Speaker 1: camp of folks who want to hop in a plane 618 00:28:29,840 --> 00:28:32,280 Speaker 1: maybe sooner rather than later this year, but you prefer 619 00:28:32,400 --> 00:28:34,720 Speaker 1: to do it with points instead of dollars, this card 620 00:28:34,960 --> 00:28:37,439 Speaker 1: is well worth considering. If you you don't already have it. 621 00:28:37,760 --> 00:28:39,400 Speaker 1: I just don't go into debt for for a sign 622 00:28:39,440 --> 00:28:42,000 Speaker 1: up bonus though obviously only take advantage if you would 623 00:28:42,040 --> 00:28:44,600 Speaker 1: be spending that much already. You don't want, we don't 624 00:28:44,600 --> 00:28:45,840 Speaker 1: want you sign it up for this card, and the 625 00:28:45,840 --> 00:28:48,840 Speaker 1: pursuit of this points to cause you to blow your budget. Yeah, 626 00:28:48,840 --> 00:28:51,400 Speaker 1: four thousand bucks in three months is a lot of money, 627 00:28:51,640 --> 00:28:54,160 Speaker 1: so only do it if it's spending your already planning 628 00:28:54,320 --> 00:28:57,040 Speaker 1: on partaking in. One more deal we should mention too, 629 00:28:57,280 --> 00:29:00,680 Speaker 1: is if you've been waiting for a great l to 630 00:29:00,760 --> 00:29:03,320 Speaker 1: buy any bike, now might be a great time for 631 00:29:03,360 --> 00:29:06,120 Speaker 1: you to pounce. Because rad Power Bikes actually has some 632 00:29:06,160 --> 00:29:09,640 Speaker 1: models on sale right now. And Matt, I've been riding 633 00:29:09,840 --> 00:29:12,560 Speaker 1: a rad Wagon. I've had two different iterations of the Radwagon. 634 00:29:12,600 --> 00:29:15,080 Speaker 1: I've loved both of them. Well, they've got just a 635 00:29:15,080 --> 00:29:17,000 Speaker 1: couple of their models on sale. We'll put a link 636 00:29:17,000 --> 00:29:19,320 Speaker 1: in the show notes to um if if getting out 637 00:29:19,360 --> 00:29:21,840 Speaker 1: of the car more and getting onto your bike is 638 00:29:21,880 --> 00:29:24,200 Speaker 1: kind of a goal of yours, But you're like, mind's 639 00:29:24,200 --> 00:29:26,480 Speaker 1: all all rusted and stuff like that, and I want 640 00:29:26,520 --> 00:29:28,680 Speaker 1: something with a little bit of juice. I think this 641 00:29:28,800 --> 00:29:30,440 Speaker 1: is a good option and a lot of people tend 642 00:29:30,520 --> 00:29:32,760 Speaker 1: to like the rad power bikes. I've actually written a 643 00:29:32,800 --> 00:29:36,280 Speaker 1: review of the Radwagon might take on it. Link to 644 00:29:36,320 --> 00:29:38,080 Speaker 1: that in the show notes as well. That's right, man, 645 00:29:38,120 --> 00:29:40,240 Speaker 1: I bet you'll do some riding around on that Radwagon 646 00:29:40,320 --> 00:29:43,680 Speaker 1: even this weekend a time point. Yes, that's supposed to 647 00:29:43,680 --> 00:29:45,800 Speaker 1: be good weather here in Atlanta. But we hope everyone 648 00:29:46,120 --> 00:29:48,040 Speaker 1: that you have a great weekend. We'll see you back 649 00:29:48,040 --> 00:29:51,640 Speaker 1: here on Monday. We've got a great listener Questions episode 650 00:29:51,680 --> 00:29:53,520 Speaker 1: lined up for you, so you can look forward to 651 00:29:53,560 --> 00:29:56,680 Speaker 1: that one, Joel. Until next time, Best Friends Out, Best 652 00:29:56,760 --> 00:30:00,120 Speaker 1: Friends Out. M