WEBVTT - Stay financially sane, with Joel and Matt 0:00:03.000 --> 0:00:09.240 Welcome to Before Breakfast, a production of iHeartRadio. Good morning, 0:00:10.039 --> 0:00:15.040 This is Laura. Welcome to the Before Breakfast podcast. Today's 0:00:15.080 --> 0:00:17.880 episode is going to be a longer one part of 0:00:17.920 --> 0:00:21.200 the series where I interview fascinating people about how they 0:00:21.239 --> 0:00:24.079 spend their time and any advice they have for the 0:00:24.120 --> 0:00:27.640 rest of us. So today I am delighted to welcome 0:00:27.800 --> 0:00:30.800 Joel Larsgard and Matt Altmex to the show. They are 0:00:30.880 --> 0:00:34.360 better known as Joel and Matt, the hosts of the 0:00:34.560 --> 0:00:37.680 how To Money podcast. So today we are going to 0:00:37.720 --> 0:00:42.400 be talking financial tips alongside productivity ones. So Joel and Matt, 0:00:42.680 --> 0:00:43.480 welcome to the show. 0:00:43.560 --> 0:00:45.480 Thanks for having us. I didn't realize we were fascinating. 0:00:46.040 --> 0:00:47.640 We appreciate you having us. 0:00:48.840 --> 0:00:50.640 Yeah, well, I know I've been listening to you guys 0:00:50.640 --> 0:00:53.199 for a long time. So I've been following all the 0:00:53.240 --> 0:00:56.440 details of the lives of Matt and Joel and their 0:00:56.480 --> 0:01:01.600 their various kids and two minivans. You each have matching 0:01:01.640 --> 0:01:02.280 mini vans. 0:01:02.280 --> 0:01:04.080 Right, sorry, we do. 0:01:04.240 --> 0:01:06.560 Actually mine just rolled over one hundred and seventy five 0:01:06.600 --> 0:01:08.600 thousand miles. It was a badge of honor. I've made 0:01:08.600 --> 0:01:10.560 the kids watch the odomeiner as it rolled over. We 0:01:10.600 --> 0:01:12.440 all did a little dance in the van while we 0:01:12.480 --> 0:01:12.720 did that. 0:01:12.800 --> 0:01:16.120 Yeah, hopefully strapped. 0:01:15.760 --> 0:01:17.479 In Indeed, Yeah. 0:01:18.440 --> 0:01:22.800 You're wonderful. So, you know, listeners to this show love 0:01:22.880 --> 0:01:27.000 hearing about people's routines. So I would love to hear 0:01:27.040 --> 0:01:30.160 if either of you guys have either a morning routine 0:01:30.440 --> 0:01:33.040 or another routine at a different point of day that 0:01:33.160 --> 0:01:35.640 really helps make your life more functional. 0:01:35.720 --> 0:01:37.440 Wait, okay, so I'll share, Laura. 0:01:37.480 --> 0:01:39.360 So, for the past two years, I've been working out, 0:01:39.720 --> 0:01:43.640 and specifically the past two months, I've been working out 0:01:43.920 --> 0:01:46.000 on a daily basis. This is something that I wanted 0:01:46.000 --> 0:01:49.320 to incorporate more into my life. And I have never 0:01:49.440 --> 0:01:52.360 been an early morning riser kind of person. And I'm 0:01:52.360 --> 0:01:55.080 getting up every single day at five forty five, which 0:01:55.120 --> 0:01:57.320 is for me at least. I don't know that's crazy early. 0:01:57.840 --> 0:02:00.680 And what I realized was that for the longest time, 0:02:00.720 --> 0:02:02.800 I was trying to eliminate distractions in my life, like 0:02:02.840 --> 0:02:05.800 for like specifically like social media in the evenings, you're 0:02:05.840 --> 0:02:08.320 sitting there, you're doing the like the doom scrolling, it 0:02:08.520 --> 0:02:10.880 just goes on and on. And what I realized was 0:02:10.919 --> 0:02:14.240 that instead of just saying no to something, what I 0:02:14.280 --> 0:02:15.959 needed to do was replace it with something, And what 0:02:16.000 --> 0:02:18.600 I finally realized was that, oh wow, working out this 0:02:18.639 --> 0:02:21.440 is something that I really enjoy and it's become more 0:02:21.880 --> 0:02:26.320 important than obviously wasting time on social media or you 0:02:26.320 --> 0:02:27.799 know some of the other ways that we waste our time. 0:02:27.840 --> 0:02:31.240 And so the ability to supplant that was massive for 0:02:31.320 --> 0:02:33.720 me actually wanting to get up in the mornings and 0:02:33.720 --> 0:02:36.320 do it. It means I'm going to bed earlier as well, 0:02:36.320 --> 0:02:39.640 which is a vital part to yeah, stay healthy and 0:02:39.680 --> 0:02:42.080 making sure you don't feel like like garbage the next morning. 0:02:42.280 --> 0:02:44.640 Now Matt looks like Dwayne the Rock Johnson, so there's that. 0:02:44.760 --> 0:02:47.800 Yeah, exactly, part of a morning routine is in fact 0:02:48.080 --> 0:02:50.040 going to bed on time the night before. 0:02:50.080 --> 0:02:51.200 So what time do you have to go to bed? 0:02:51.280 --> 0:02:54.280 Duake? Nine thirty is what I'm aiming for my wife 0:02:54.360 --> 0:02:58.120 and I'm both and it's awesome. I feel like I'm 0:02:58.160 --> 0:03:01.200 a completely different person than I was even two months ago, 0:03:01.280 --> 0:03:03.320 but certainly beyond two years ago for sure. 0:03:04.080 --> 0:03:06.040 Well, I love that the idea that you know, it's 0:03:06.080 --> 0:03:07.600 not enough just to be like I need to get 0:03:07.600 --> 0:03:09.639 off social media, right, I need to spend less time 0:03:09.680 --> 0:03:12.639 on social media. If you don't have something else that 0:03:12.680 --> 0:03:15.600 you are replacing it with, Like why You're like, well, 0:03:15.600 --> 0:03:17.640 why am I off social media? Social media is kind 0:03:17.639 --> 0:03:19.760 of fun. I don't know, there are fun things I 0:03:19.760 --> 0:03:21.800 can do with my time. But you've really enjoyed the 0:03:21.800 --> 0:03:22.600 getting up now. 0:03:22.520 --> 0:03:23.079 I really do. 0:03:23.240 --> 0:03:23.440 Yeah. 0:03:23.440 --> 0:03:25.960 I mean it's something I maybe that sounds crazy to 0:03:26.000 --> 0:03:28.000 some people, but it's something I really do look forward to. 0:03:28.600 --> 0:03:30.919 And sometimes my wife gets out there with me as well, 0:03:30.919 --> 0:03:32.799 and so it's kind of a time of connection. I 0:03:32.840 --> 0:03:35.760 mean that's mostly on Saturdays, I guess only, but yeah, 0:03:35.800 --> 0:03:37.520 it's fantastic. 0:03:37.960 --> 0:03:40.600 Awesome, Jill. How about you. You have any sort of routine. 0:03:40.680 --> 0:03:45.120 Yeah, so probably my favorite routine is taking my son 0:03:45.240 --> 0:03:47.680 to school on the bike. So I've got an electric 0:03:47.720 --> 0:03:50.200 cargo bike and that just kind of like that's the 0:03:50.240 --> 0:03:53.080 best part of my morning is getting to ride with him. 0:03:53.160 --> 0:03:56.440 We just tell jokes the entire time, and then I 0:03:56.480 --> 0:03:58.640 come home and I walk my daughter to school. So 0:03:58.840 --> 0:04:01.360 something about like that kind of uh, you know, I'm 0:04:01.360 --> 0:04:03.720 not pumping iron like madness, but there's something about that 0:04:03.760 --> 0:04:06.440 activity that gets my day started right, especially doing it 0:04:06.480 --> 0:04:09.240 with the kids, and then after lunch and after lunch 0:04:09.280 --> 0:04:12.320 walk just because you're sitting down. You're at the computer 0:04:12.480 --> 0:04:14.760 so much of the day, and so like getting out 0:04:14.880 --> 0:04:17.880 and nature, touching some grass, looking at some leaves is 0:04:18.000 --> 0:04:21.080 just very grounding and it takes me out of this 0:04:21.360 --> 0:04:24.200 all the whirlwind of running a business. Then you get 0:04:24.200 --> 0:04:25.279 back into it after that walk. 0:04:26.160 --> 0:04:28.719 Yeah, you need a little break to boost your energy. 0:04:28.760 --> 0:04:30.440 And I'm sure that's something that does. 0:04:30.320 --> 0:04:32.320 Yeah, exactly, Joel. 0:04:32.320 --> 0:04:34.680 What you did share is that there's there's a there's 0:04:35.000 --> 0:04:37.320 medical research to back this too, because the ability to 0:04:37.320 --> 0:04:39.120 move a little bit. And so this is something I 0:04:39.120 --> 0:04:40.919 do as well, and it's it's not only just like 0:04:40.960 --> 0:04:43.920 a psychologically healthy thing, but like it keeps your blood 0:04:43.960 --> 0:04:46.640 sugar from spiking and don't you get me started on 0:04:46.760 --> 0:04:49.680 like continuous glucose monitors, which oh. 0:04:49.640 --> 0:04:52.640 No, we're doing this. Yeah. Well, you know, the post 0:04:52.760 --> 0:04:55.840 prandial walk as they call it, Yeah, is an old 0:04:55.880 --> 0:04:58.479 fashioned term, but you know, good to good to still do. 0:04:58.760 --> 0:05:02.400 Yeah, I like, I like you're bringing interesting definitions to 0:05:02.400 --> 0:05:03.080 an interesting term. 0:05:05.040 --> 0:05:09.200 Well, so you guys run a financial podcast and have 0:05:09.360 --> 0:05:12.520 for several years. We are coming up on the holidays 0:05:12.600 --> 0:05:14.640 when this is airing, which is of course a time 0:05:14.760 --> 0:05:18.920 of financial stress for a lot of people. Probably doesn't 0:05:18.960 --> 0:05:22.640 have to be, but does tend to be so question time. 0:05:23.279 --> 0:05:28.880 Have either of you ever overspent during the holiday seasons before? 0:05:29.600 --> 0:05:33.919 Yeah, I have, but not outside of the realm of normalcy, 0:05:33.960 --> 0:05:36.080 I don't think. But there are times where you want 0:05:36.120 --> 0:05:38.320 to get a certain gift for somebody and you feel 0:05:38.480 --> 0:05:41.000 that is the perfect thing for this person that I love, 0:05:41.400 --> 0:05:43.880 and so you end up kind of over committing or 0:05:43.920 --> 0:05:46.880 spending more than you thought you would on a specific 0:05:46.880 --> 0:05:49.720 gift for someone that you love. Yeah, or maybe you 0:05:49.760 --> 0:05:52.240 do go a little bit overboard. I guess I have 0:05:52.360 --> 0:05:53.960 never gone to the point where I ended up in 0:05:54.000 --> 0:05:56.680 credit card debt the next year because I overspent on 0:05:56.760 --> 0:05:59.640 Christmas or holiday gifts for friends or family or anything 0:05:59.680 --> 0:06:01.920 like that. I think that's the thing that I'm wary of, 0:06:01.920 --> 0:06:03.760 because when you look at the numbers, like there's a 0:06:03.800 --> 0:06:06.839 significant portion of Americans that wind up getting the credit 0:06:06.920 --> 0:06:09.159 card bill in January and they're paying it off for 0:06:09.320 --> 0:06:12.520 months and months to come. There are still Americans who 0:06:12.600 --> 0:06:16.080 are in debt from last holiday holiday twenty twenty three, 0:06:16.240 --> 0:06:19.400 a significant portion of Americans. So I guess that's the 0:06:19.400 --> 0:06:21.240 thing that worries me. Overspending a little bit. If you 0:06:21.279 --> 0:06:23.040 have the extra cash, and you can take it out 0:06:23.080 --> 0:06:25.240 of your budget somewhere else. That's one thing. But if 0:06:25.279 --> 0:06:26.800 you're like putting it on the credit card and you're 0:06:26.839 --> 0:06:28.560 not gonna be able to pay the balance off, that's 0:06:28.600 --> 0:06:29.360 the scary stuff. 0:06:29.400 --> 0:06:33.239 And I think oftentimes it's not just like one giant purchase, 0:06:33.279 --> 0:06:34.720 or maybe maybe for some folks it is, but I 0:06:34.720 --> 0:06:37.680 feel like it's just the accumulation of all the little purchases. 0:06:37.720 --> 0:06:39.520 It's just a little bit more here, a little bit 0:06:39.520 --> 0:06:41.680 more there. Oh, we forgot to account for the teachers. 0:06:41.720 --> 0:06:43.200 Oh yeah, that's a lot of you know, like we 0:06:43.200 --> 0:06:45.599 got to include them. And so I think for a 0:06:45.600 --> 0:06:48.040 lot of folks, maybe a takeaway is just to have 0:06:48.080 --> 0:06:51.320 some of these discussions ahead of time. I was talking 0:06:51.320 --> 0:06:54.240 with a friend of mine, and man, I was so 0:06:55.080 --> 0:06:58.080 encouraged because she was saying how her and her husband 0:06:58.120 --> 0:07:00.039 they decided that they were trying to back off the 0:07:00.080 --> 0:07:03.040 gifts this year, and I was expecting her to talk 0:07:03.080 --> 0:07:06.320 about grandparents like extended family, which I think for a 0:07:06.360 --> 0:07:08.479 lot of times, for a lot of folks, that's difficult. 0:07:08.560 --> 0:07:08.680 Right. 0:07:08.720 --> 0:07:10.600 It's like, Okay, I see you a couple times a year, 0:07:10.640 --> 0:07:12.920 how am I supposed to know something that's actually going 0:07:12.960 --> 0:07:15.560 to move the needle, and but no, And so I 0:07:15.560 --> 0:07:17.880 went into the conversation assuming that to be the case. 0:07:18.640 --> 0:07:20.840 She was talking about her and her husband as well 0:07:20.880 --> 0:07:23.480 as her first grader and her third grader, and she 0:07:23.560 --> 0:07:26.119 said they had this conversation on the front end, and 0:07:26.240 --> 0:07:30.040 the kids were on board with it. They substituted a trip, 0:07:30.440 --> 0:07:32.560 which I think was a trip that there was still 0:07:32.600 --> 0:07:36.200 planning to take in the spring. But the ability for 0:07:36.320 --> 0:07:38.040 the I guess the I don't know not to say 0:07:38.040 --> 0:07:39.360 that you should be tricking your kids or. 0:07:40.840 --> 0:07:43.120 I was gonna say, I'm not sure that my children 0:07:43.160 --> 0:07:44.240 would be done on board. 0:07:47.680 --> 0:07:47.960 Mom. 0:07:49.000 --> 0:07:52.560 I think having these conversations can help a lot of folks, again, 0:07:52.680 --> 0:07:56.000 especially when it comes to extended family. But even still, 0:07:56.040 --> 0:07:58.440 if if you do want to have some gifts around 0:07:58.440 --> 0:08:00.960 the tree, around the like, around the holidays, I think 0:08:01.400 --> 0:08:03.880 maybe what that means is slowing your role a little 0:08:03.880 --> 0:08:06.080 bit when it comes to expenses leading up to that, 0:08:06.800 --> 0:08:10.040 because we are all so used to just the not 0:08:10.080 --> 0:08:12.840 only like weekly purchases that we make, but almost daily 0:08:13.280 --> 0:08:15.280 where we're thinking, oh, this is something I would kind 0:08:15.280 --> 0:08:16.600 of like, and you go ahead and make the purchase. 0:08:16.640 --> 0:08:17.240 It shows up. 0:08:17.400 --> 0:08:19.560 So now anytime we get a gift, it's not even 0:08:19.720 --> 0:08:22.960 all that special, I think, as opposed to think back 0:08:23.000 --> 0:08:25.520 thirty years ago and people I don't know, like we're 0:08:25.520 --> 0:08:28.960 a wealthy country now, Laura, and we don't really do without, 0:08:29.080 --> 0:08:32.040 and oftentimes that can maybe take away from some of 0:08:32.080 --> 0:08:35.200 the magic of the holidays and actually getting gifts for folks. 0:08:36.280 --> 0:08:39.600 Interesting. Yeah, I think another thing that happens with the 0:08:39.640 --> 0:08:41.959 holidays is you know, you were saying people don't account 0:08:41.960 --> 0:08:43.400 for all the people that they're going to have to 0:08:43.400 --> 0:08:45.160 buy gifts for. But I don't know that we even 0:08:45.160 --> 0:08:47.920 account for all the things that we wind up spending on. 0:08:47.960 --> 0:08:50.120 Like maybe people have a thought of like, okay, well 0:08:50.120 --> 0:08:51.960 here are the gifts, but then you're going to wind 0:08:52.000 --> 0:08:54.480 up traveling to see family or something like that, and 0:08:54.520 --> 0:08:58.800 that's an entirely separate expense, or you know, you decide 0:08:58.840 --> 0:09:02.800 to host a party, or there's a additional going out 0:09:02.920 --> 0:09:05.040 or something like that that happens in the course of 0:09:05.080 --> 0:09:06.880 the month. I think maybe it's just that people don't 0:09:07.440 --> 0:09:09.360 build all of it into the picture. 0:09:09.520 --> 0:09:10.960 I think that's true. And I think to your point, 0:09:10.960 --> 0:09:14.040 Antomat's point, part of the things that we spend extra 0:09:14.080 --> 0:09:16.760 money on too. That didn't used to be the case. 0:09:16.800 --> 0:09:19.000 I don't think to nearly the same extent is buying 0:09:19.000 --> 0:09:22.320 stuff for ourselves, and so instead of putting them on 0:09:22.360 --> 0:09:24.760 our Christmas list or whatever for other people, the wish 0:09:24.760 --> 0:09:26.839 list that we would love other people to get for us, 0:09:27.080 --> 0:09:29.000 because you're right, Like my mom will say, hey, what 0:09:29.200 --> 0:09:31.760 do you want for this Christian? I'm like, I don't know. 0:09:31.880 --> 0:09:33.800 I feel like I don't need anything or but it's 0:09:33.800 --> 0:09:35.959 because I do buy the things along the way want 0:09:36.000 --> 0:09:38.720 when I want them, and I think when things are 0:09:38.760 --> 0:09:41.840 on sale, and this is the time of year where 0:09:41.880 --> 0:09:44.400 all the retailers are trying to get in our pockets. 0:09:44.760 --> 0:09:47.640 They want our cash, and so there's discount of things significantly, 0:09:47.920 --> 0:09:50.640 we're more inclined to buy, I don't know, a nice 0:09:50.640 --> 0:09:53.000 TV because it's significantly cheaper than it's going to be 0:09:53.000 --> 0:09:55.320 at any other time in year in the year. And 0:09:55.360 --> 0:09:57.120 so I think that's the other thing we don't account 0:09:57.160 --> 0:09:59.320 for as well, because we're just like adding things to 0:09:59.360 --> 0:10:01.280 our cart for us while we're adding things to the 0:10:01.320 --> 0:10:03.640 car for other people, and that can become like an 0:10:03.679 --> 0:10:05.200 overwhelming financial burden too. 0:10:05.960 --> 0:10:08.400 All right, So that's our tip. There be careful about 0:10:08.400 --> 0:10:11.440 treating yourself over the holiday seasons. Maybe at least ask 0:10:11.520 --> 0:10:14.360 other people for those things that you really want. Well, 0:10:14.360 --> 0:10:16.000 we're going to take a quick ad break and then 0:10:16.040 --> 0:10:25.520 we will be back with more from Joel and Matt. Well, 0:10:25.559 --> 0:10:28.000 I am back. This is one of the longer episodes 0:10:28.040 --> 0:10:30.760 of Before Breakfast. I am talking with Joel and Matt 0:10:30.760 --> 0:10:33.160 of How to Money. So we've been talking about the 0:10:33.160 --> 0:10:35.719 holiday season, but of course the holiday season comes right 0:10:35.800 --> 0:10:39.320 before the New year. If people were going to make 0:10:40.280 --> 0:10:44.680 New Year's resolutions financial New Year's resolutions, what would you 0:10:44.760 --> 0:10:47.760 suggest doing? What are some steps that people might be 0:10:47.800 --> 0:10:50.959 able to take to have a more financially sane life 0:10:50.960 --> 0:10:51.560 in the new year? 0:10:51.800 --> 0:10:53.560 Or I think one of the best things that we 0:10:53.600 --> 0:10:55.440 can do is I mean, especially this time of year, 0:10:55.760 --> 0:10:57.959 like a lot of folks have time off from work, right, 0:10:58.000 --> 0:11:00.000 and I think using that time to do the hold 0:11:00.160 --> 0:11:05.719 day things like baking cookies, building snowman, going caroling. 0:11:05.400 --> 0:11:09.040 Like all by the way, Laura, do you still sing 0:11:09.080 --> 0:11:10.360 in the choir? I feel like that. 0:11:10.960 --> 0:11:13.560 Nice I will be singing a lot of you go 0:11:13.720 --> 0:11:16.600 there you go obviously doing all those things that are 0:11:16.640 --> 0:11:18.480 important to you and like the culture of your family, 0:11:19.240 --> 0:11:21.400 but also the ability to take some of this time 0:11:21.480 --> 0:11:23.280 and to look back sort of like you said, like 0:11:23.400 --> 0:11:25.880 oftentimes we don't account for all that we're spending on, 0:11:26.559 --> 0:11:27.000 and the. 0:11:26.960 --> 0:11:29.160 Ability to look back, look back over the past year 0:11:29.200 --> 0:11:31.960 and see where our dollars went, and having a meeting 0:11:32.240 --> 0:11:34.280 with your partner, to be able to get on the 0:11:34.280 --> 0:11:36.600 same page to make make it feel like and not 0:11:36.679 --> 0:11:38.439 just make it feel like, but to realize that you're 0:11:38.440 --> 0:11:41.040 on the same team moving forward and looking ahead to 0:11:41.080 --> 0:11:44.960 twenty twenty five and maybe identifying some of the different goals, 0:11:45.000 --> 0:11:47.160 some of the like some of the rocks that are 0:11:47.440 --> 0:11:50.040 non negotiables where you're like, this is something that's really 0:11:50.040 --> 0:11:52.760 important to us. Let's do all that we can to 0:11:52.800 --> 0:11:55.360 make this happen. Hey, we've been eating out a lot. 0:11:55.200 --> 0:11:55.800 This past year. 0:11:55.800 --> 0:11:57.760 Would if we cut back and that's going to allow 0:11:57.840 --> 0:12:00.280 us to go on that sweet vacation this summer. Let's 0:12:00.280 --> 0:12:03.199 make that a priority. And not only for partners, I think, 0:12:03.200 --> 0:12:06.800 but also these conversations I think are less likely to 0:12:06.840 --> 0:12:11.640 happen with like if you're flying solo, right because you 0:12:11.720 --> 0:12:14.760 got the natural prodding of your partner saying, ah. 0:12:14.640 --> 0:12:16.120 Do we really need another one of those? 0:12:16.400 --> 0:12:19.040 Or you know, there's different conversations you have, but when 0:12:19.040 --> 0:12:21.400 it's just yourself, like you said, Joe, oftentimes we just 0:12:21.480 --> 0:12:23.600 add that item to the cart, we click to buy, 0:12:23.880 --> 0:12:25.720 We don't think twice about it. So I think it's 0:12:25.760 --> 0:12:30.199 even more important to be intentional with our time for 0:12:30.520 --> 0:12:33.800 individuals that are by themselves as they think through just 0:12:33.840 --> 0:12:36.400 some of the different goals that they're financial goals that 0:12:36.400 --> 0:12:39.440 they're looking to achieve on their own for the next year. 0:12:40.720 --> 0:12:43.480 Yeah, I think that money date thing is really important, 0:12:43.559 --> 0:12:46.080 right and having those conversations, and now's a perfect time 0:12:46.240 --> 0:12:47.720 just try to have those Hey what do we want 0:12:47.760 --> 0:12:50.320 to accomplish in twenty twenty five? Start thinking about those things? 0:12:50.360 --> 0:12:50.640 Now? 0:12:50.880 --> 0:12:52.760 What are the financial goals we have when it comes 0:12:52.800 --> 0:12:56.000 to saving and investing and buying awesome stuff that we 0:12:56.040 --> 0:12:59.320 care about, whether it's experiences or actual physical items. But 0:12:59.520 --> 0:13:02.720 I think I think the other thing too is to look 0:13:02.840 --> 0:13:05.240 at your prior spending and say, well, what is it 0:13:05.280 --> 0:13:08.200 that I didn't even realize I spent money on. I 0:13:08.280 --> 0:13:10.760 just recently realized that we are paying for Apple TV 0:13:10.840 --> 0:13:14.240 and we don't watch Apple TV. And so that's actually 0:13:14.240 --> 0:13:16.080 the norm for most Americans. When you look at what 0:13:16.120 --> 0:13:19.560 people assume they're spending in subscription amounts every single month, 0:13:19.920 --> 0:13:22.679 they vastly underestimate. So the avers versus say, I'll probably 0:13:22.679 --> 0:13:24.120 spend it, I don't know, one hundred and twenty bucks 0:13:24.200 --> 0:13:26.720 or something. But maybe they're in actuality, they're spending three 0:13:26.800 --> 0:13:30.319 hundred plus dollars on recurring subscriptions. So identifying those things, 0:13:30.400 --> 0:13:33.160 because the truth is lots of times it's wasted money. 0:13:33.160 --> 0:13:36.040 It's money that could be better spent elsewhere. And because 0:13:36.400 --> 0:13:39.000 our eyes not on the ball and we're not identifying 0:13:39.080 --> 0:13:40.959 maybe the places that we're spending where we're not getting 0:13:41.000 --> 0:13:43.240 any value, we don't have the chance even to make 0:13:43.240 --> 0:13:43.800 the change. 0:13:44.920 --> 0:13:47.800 All right, So we've got money conversation with a partner, 0:13:47.800 --> 0:13:49.960 if you have one, making sure you're on the same 0:13:50.000 --> 0:13:52.120 page for your big goals for the next year. We're 0:13:52.120 --> 0:13:55.400 going to look through all those subscriptions, see if you're 0:13:55.440 --> 0:13:58.920 actually watching those shows that you are paying for. You guys, 0:13:58.960 --> 0:14:01.200 got any others for us we might consider for the 0:14:01.240 --> 0:14:01.640 new year. 0:14:03.080 --> 0:14:05.480 So I think the other thing that I want to 0:14:05.760 --> 0:14:10.080 and this feels so anathema to American culture, is to say, 0:14:10.640 --> 0:14:14.000 be really careful before you upgrade your car. It is 0:14:14.160 --> 0:14:16.400 it is like the single line item. I think that 0:14:16.440 --> 0:14:19.000 people can stand to save the most on and lost 0:14:19.000 --> 0:14:21.400 of times. It's just this assumption that, ah, I think 0:14:21.680 --> 0:14:23.960 it's time to upgrade the car. It's like four years old, right, 0:14:24.560 --> 0:14:26.840 And the truth is, like with what's happened with car prices, 0:14:26.840 --> 0:14:29.520 with what's happened with interest rates, cars are more expensive 0:14:29.520 --> 0:14:32.200 than they've ever been. And the same is true when 0:14:32.200 --> 0:14:34.520 it comes to insurance costs. So there are all of 0:14:34.560 --> 0:14:36.600 these things stacked against you when it comes to car 0:14:36.640 --> 0:14:38.400 ownership and how much it's going to cost you. A 0:14:38.440 --> 0:14:40.920 significant portion of the American public spends one thousand dollars 0:14:41.040 --> 0:14:44.680 or more for a single car every single month, and 0:14:44.840 --> 0:14:47.520 I think you can slash those costs significantly. And that's 0:14:47.560 --> 0:14:50.280 particularly true in the work from home era. So if 0:14:50.280 --> 0:14:53.440 you're talking about, yeah, the Apple TV subscription, when I 0:14:53.440 --> 0:14:55.040 cut that, I'm going to save eight dollars a month. 0:14:55.200 --> 0:14:57.280 But if I can slash my car costs by a 0:14:57.280 --> 0:14:59.680 whole lot more than that, and just thinking about the 0:14:59.720 --> 0:15:02.360 trade off involved in that, it's like, well, how much 0:15:02.360 --> 0:15:03.920 I'm actually going to miss that car, especially when I 0:15:03.920 --> 0:15:06.200 only drive it once or twice a week, versus the 0:15:06.240 --> 0:15:08.600 things I can do with the massive pile of cash 0:15:08.640 --> 0:15:09.720 I'll have back in my life if. 0:15:09.640 --> 0:15:11.560 I do make a big change like that, And that's 0:15:11.560 --> 0:15:14.600 something that we've got a little more room to have 0:15:14.800 --> 0:15:16.880 movement on right Like Like when it comes to like 0:15:16.880 --> 0:15:18.560 when you are looking out the biggest line items on 0:15:18.560 --> 0:15:20.800 our budgets every single month, housing is at the top. 0:15:21.080 --> 0:15:23.160 But not many folks are going to say, Okay, hey, 0:15:23.160 --> 0:15:24.680 we're really trying to cut back. Let's go ahead and 0:15:24.680 --> 0:15:27.320 sell the house and move to a more affordable neighborhood. 0:15:27.360 --> 0:15:30.120 Let's move out to the sticks. Uh, let's let's move 0:15:30.120 --> 0:15:32.480 in with your with your parents. Wouldn't that that allows 0:15:32.520 --> 0:15:33.280 to save a ton of money. 0:15:33.400 --> 0:15:37.720 Let's go to Tilan like that would be a big change. 0:15:37.560 --> 0:15:37.960 In a year. 0:15:38.080 --> 0:15:40.400 Yes, for sure, typically have that kind of flexibility. 0:15:40.400 --> 0:15:43.600 But when it comes to vehicles, like yes, because oftentimes 0:15:43.760 --> 0:15:46.600 they are providing us typically more than just that A 0:15:46.680 --> 0:15:50.480 to B transportation, we do find a part of our ego, 0:15:50.600 --> 0:15:53.120 a part of our identity tied up in the vehicles 0:15:53.160 --> 0:15:55.920 that we drive. And especially given the fact that these 0:15:55.960 --> 0:16:00.480 are crazy expensive depreciating assets. The man we I really 0:16:01.000 --> 0:16:04.560 hate financing vehicles because you are paying interest on something 0:16:04.600 --> 0:16:07.200 that is going down in value, and so yeah, I'm 0:16:07.200 --> 0:16:09.600 just gonna second wogol set here about finding ways to 0:16:09.600 --> 0:16:11.000 cut your transportation costs. 0:16:11.920 --> 0:16:13.880 Excellent, But you guys will be happy to know I 0:16:13.920 --> 0:16:18.000 am driving a twenty eleven car. Yeah, and I'm not 0:16:18.040 --> 0:16:20.240 even just driving. I'm sharing it with my teenage son, 0:16:20.400 --> 0:16:22.600 so he actually has it at school right now, so 0:16:22.840 --> 0:16:25.120 I'm kind of just my home office. 0:16:25.240 --> 0:16:27.200 I can't beat that. That's amazing. I'll love a lawyer. 0:16:27.240 --> 0:16:28.280 You ever get in the car and you're like, what 0:16:28.400 --> 0:16:29.640 radio station am I listening to? 0:16:30.520 --> 0:16:34.360 I know, he's like, what is this? It doesn't play anything, 0:16:34.560 --> 0:16:36.920 Although you know, there's also the craziness of it doesn't 0:16:36.920 --> 0:16:40.280 help you park either, which sometimes that's not a good thing. 0:16:41.680 --> 0:16:45.000 The old technologies, Yeah they don't. The fact that your 0:16:45.040 --> 0:16:47.600 car can self park now is incredible, but I probably 0:16:47.640 --> 0:16:49.040 won't experience that for another decade. 0:16:49.920 --> 0:16:52.520 Yeah, exactly, exactly. All Right, Well, we're going to take 0:16:52.560 --> 0:16:54.200 one more quick break and then we'll be back with 0:16:54.280 --> 0:16:56.000 a little bit more from Joel and Matt. 0:17:03.000 --> 0:17:03.880 Well, we are back. 0:17:04.000 --> 0:17:07.920 I am talking all things money and also productivity with 0:17:08.080 --> 0:17:11.760 Joel and Matt. So, Matt, I want to talk about 0:17:11.800 --> 0:17:15.399 a little exercise you did productivity wise, not not the 0:17:15.440 --> 0:17:20.560 exercise back to exercise, I d not exercise. Now we 0:17:20.560 --> 0:17:23.879 can we can be done talking about exercise now. But 0:17:24.840 --> 0:17:28.840 at one point you drew up a calendar. I think 0:17:28.880 --> 0:17:32.479 of what you called Matt's perfect week. So you can 0:17:32.480 --> 0:17:35.480 you talk about what that is and why other people 0:17:35.560 --> 0:17:38.520 might consider maybe not creating math perfect week, but their 0:17:38.560 --> 0:17:39.360 own perfect. 0:17:39.080 --> 0:17:40.359 You've got a good memory, Laura. 0:17:40.800 --> 0:17:43.520 Yes, this was a separate so within Gmail, I created 0:17:43.520 --> 0:17:47.280 a whole. It was another calendar that I decided I 0:17:47.320 --> 0:17:50.159 wanted to see where my time was going. And so 0:17:50.240 --> 0:17:53.720 it wasn't just a way for me to account for 0:17:53.960 --> 0:17:56.920 every minute, not literally every minute, but every I will say, 0:17:56.920 --> 0:17:59.439 every fifteen minute chunk. But it was a way for 0:17:59.520 --> 0:18:02.480 me to prove myself that I did, in fact have 0:18:02.920 --> 0:18:05.320 the ability to do all the different things that I 0:18:05.359 --> 0:18:08.280