1 00:00:00,080 --> 00:00:02,640 Speaker 1: Welcome to How the Money. I'm Joel and I and 2 00:00:02,759 --> 00:00:27,560 Speaker 1: Matt and today we're discussing executive order confusion and traveling again. Yeah, buddy, 3 00:00:27,680 --> 00:00:30,440 Speaker 1: this is our Friday Flight episode where every week we 4 00:00:30,560 --> 00:00:33,000 Speaker 1: talk about the headlines and the news, because we want 5 00:00:33,040 --> 00:00:36,479 Speaker 1: to make sure we are discussing how these different news stories, 6 00:00:36,920 --> 00:00:38,839 Speaker 1: the different changes that are happening in our country, how 7 00:00:38,880 --> 00:00:41,400 Speaker 1: they are affecting our money, our personal finances. And so 8 00:00:41,400 --> 00:00:43,200 Speaker 1: we're gonna talk about the two that you mentioned, plus 9 00:00:43,240 --> 00:00:45,720 Speaker 1: a few others, you know, medium size story as well 10 00:00:45,760 --> 00:00:47,760 Speaker 1: as some small ones. You know, they're not all these 11 00:00:47,760 --> 00:00:50,760 Speaker 1: big dramatic stories, but we like to talk about all 12 00:00:50,760 --> 00:00:52,760 Speaker 1: the stuff out there. Yeah, a lot of interesting stuff 13 00:00:52,800 --> 00:00:54,800 Speaker 1: out there this week, And we talked about the stuff 14 00:00:54,840 --> 00:00:56,720 Speaker 1: that we care about, right, because there are some some 15 00:00:56,800 --> 00:01:00,320 Speaker 1: even bigger stories, right, in particular, bigger political stories. There's 16 00:01:00,360 --> 00:01:02,960 Speaker 1: a much right Yeah, vice presidential pick for Joe Biden, 17 00:01:03,000 --> 00:01:04,560 Speaker 1: But we don't talk about that stuff on the show. Yeah, 18 00:01:04,640 --> 00:01:07,360 Speaker 1: less about politics, I mean less about health as well. 19 00:01:07,400 --> 00:01:09,160 Speaker 1: I feel like even when we do talk about COVID, 20 00:01:09,319 --> 00:01:11,920 Speaker 1: it's specific to you know, our money, because that's what 21 00:01:11,959 --> 00:01:13,600 Speaker 1: we talked about here. Man. We are how some money, 22 00:01:13,880 --> 00:01:15,680 Speaker 1: and actually, man on that note, you know, last week 23 00:01:15,720 --> 00:01:18,480 Speaker 1: we were just talking about new cell phones and I 24 00:01:18,520 --> 00:01:20,440 Speaker 1: was kind of bragging a little bit about how great 25 00:01:20,480 --> 00:01:22,880 Speaker 1: my old school iPhone SC is doing. And then of 26 00:01:22,920 --> 00:01:26,319 Speaker 1: course three days later, I was out for a run 27 00:01:26,640 --> 00:01:28,959 Speaker 1: and my phone slipped out of my arm band and cracked. 28 00:01:29,400 --> 00:01:32,199 Speaker 1: Uh the screen like shattered even more, had a little 29 00:01:32,200 --> 00:01:34,440 Speaker 1: crack on it. But now it's it's terrible. You told 30 00:01:34,440 --> 00:01:36,440 Speaker 1: me you had this old school arm arm band and 31 00:01:36,520 --> 00:01:39,160 Speaker 1: you put tape on it to try to keep your phone. Okay, Yeah, 32 00:01:39,160 --> 00:01:40,760 Speaker 1: so this is actually a pretty good frugal or cheap 33 00:01:42,000 --> 00:01:45,800 Speaker 1: cheap move because this arm band, it's from like eight 34 00:01:45,920 --> 00:01:47,880 Speaker 1: nine years ago, like when Kate and I first got 35 00:01:47,880 --> 00:01:51,040 Speaker 1: into running, and it's slowly kind of falling apart a 36 00:01:51,040 --> 00:01:53,720 Speaker 1: little bit, and you know, I was looking at it 37 00:01:53,880 --> 00:01:55,320 Speaker 1: and I put the tape on there a couple of 38 00:01:55,360 --> 00:01:57,120 Speaker 1: weeks ago, but I was like, you know, the phone 39 00:01:57,160 --> 00:01:58,680 Speaker 1: could probably like slide out of there, out of that 40 00:01:58,720 --> 00:02:00,600 Speaker 1: little slot, out of that hole, and so I stuck 41 00:02:00,640 --> 00:02:03,600 Speaker 1: some packing tape on the arm band so that a 42 00:02:03,760 --> 00:02:06,240 Speaker 1: I could still see the screen, but be it would 43 00:02:06,280 --> 00:02:08,920 Speaker 1: hold it together. But you know, you go running and 44 00:02:08,919 --> 00:02:12,280 Speaker 1: you sweat, and the sweat and makes tape not sticky anymore. 45 00:02:12,600 --> 00:02:14,120 Speaker 1: And that's what happened, man. It was I was actually 46 00:02:14,120 --> 00:02:16,440 Speaker 1: not even running. It was after the run, and I 47 00:02:16,480 --> 00:02:19,240 Speaker 1: was walking with it and it slipped out of that 48 00:02:19,240 --> 00:02:22,280 Speaker 1: that spot and cracked. Well I hate that for you. 49 00:02:22,280 --> 00:02:23,919 Speaker 1: I'm sorry that such a sick feeling, you know when 50 00:02:23,919 --> 00:02:27,720 Speaker 1: you yeah, busted screen sucks. And but I saw what 51 00:02:27,800 --> 00:02:30,160 Speaker 1: you did, dude. You pulled out an even older version 52 00:02:30,240 --> 00:02:33,040 Speaker 1: of an iPhone that you currently have hanging around your house. Yeah. 53 00:02:33,080 --> 00:02:34,840 Speaker 1: I was gonna go into all these details, but I 54 00:02:34,919 --> 00:02:38,720 Speaker 1: had an older iPhone sc uh that was not as 55 00:02:38,760 --> 00:02:40,560 Speaker 1: good because the battery isn't as good on it. And 56 00:02:40,600 --> 00:02:43,000 Speaker 1: I just backed up my my iPhone to eye cloud 57 00:02:43,160 --> 00:02:44,920 Speaker 1: and then just pulled off the new one. And and 58 00:02:44,960 --> 00:02:46,680 Speaker 1: by knowing you mean the really old one. Yeah, yeah, 59 00:02:46,680 --> 00:02:48,760 Speaker 1: they're really old one, and just restored that back up. 60 00:02:48,840 --> 00:02:51,440 Speaker 1: And so now instead of you know, cutting my finger 61 00:02:51,520 --> 00:02:53,560 Speaker 1: on pieces of glass, now I just had these nice 62 00:02:53,840 --> 00:02:56,480 Speaker 1: aged cracks that are dulled a little bit where they 63 00:02:56,480 --> 00:02:58,160 Speaker 1: don't cut my finger. But yeah, going back to what 64 00:02:58,200 --> 00:03:00,280 Speaker 1: you said, though you mentioned the arm band, it was 65 00:03:00,360 --> 00:03:03,280 Speaker 1: a completely cheap move by you know, throwing the table 66 00:03:03,280 --> 00:03:04,760 Speaker 1: on there. She just bought a new arm being for 67 00:03:04,800 --> 00:03:07,280 Speaker 1: like five bucks to save your phone from like lots 68 00:03:07,280 --> 00:03:09,520 Speaker 1: of dama exactly. But at the same time, I'm not 69 00:03:09,560 --> 00:03:12,200 Speaker 1: necessarily going to get a brand new iPhone right now. Uh. 70 00:03:12,200 --> 00:03:14,200 Speaker 1: And that is not me being cheap. That's just I 71 00:03:14,200 --> 00:03:15,720 Speaker 1: think that's me being a little more frugal because I 72 00:03:15,720 --> 00:03:18,840 Speaker 1: don't really care that much about cell phones. Uh, that is, 73 00:03:18,880 --> 00:03:20,440 Speaker 1: maybe until you get a new one and I see 74 00:03:20,480 --> 00:03:22,560 Speaker 1: how nice and shiny it is and it's got that 75 00:03:22,560 --> 00:03:24,800 Speaker 1: new electronic smell. Well, I'm still holding off on mine, 76 00:03:24,840 --> 00:03:27,280 Speaker 1: even though my current one likes to turn itself off 77 00:03:27,280 --> 00:03:28,919 Speaker 1: like two or three times today. I don't know what's 78 00:03:28,919 --> 00:03:30,440 Speaker 1: going on there. And I gotta think at this point 79 00:03:30,440 --> 00:03:33,040 Speaker 1: in time, listeners are probably not taking our recommendation on 80 00:03:33,160 --> 00:03:35,920 Speaker 1: upgrade cycles for phones because we tend to go a 81 00:03:35,920 --> 00:03:38,800 Speaker 1: little bit longer, especially Gilish things a little bit. Yeah, 82 00:03:38,920 --> 00:03:40,680 Speaker 1: but I like your ingenuity. I like your willingness to 83 00:03:40,720 --> 00:03:43,000 Speaker 1: work with the old phone. I'm trying to see how 84 00:03:43,040 --> 00:03:44,840 Speaker 1: much longer I can slog it out to. All right, Matt, 85 00:03:44,920 --> 00:03:46,880 Speaker 1: let's get onto the Friday flight. The headlines we found 86 00:03:46,880 --> 00:03:49,680 Speaker 1: interesting this week and what those four executive orders that 87 00:03:49,760 --> 00:03:51,880 Speaker 1: were released on Saturday actually mean for you. But first 88 00:03:51,960 --> 00:03:54,000 Speaker 1: let's get to a couple of others. Matt, we talked 89 00:03:54,000 --> 00:03:56,760 Speaker 1: about bikes, maybe way too much, but not enough. Okay, 90 00:03:56,800 --> 00:03:58,960 Speaker 1: not enough. I agree with you. Bikes are integral man 91 00:03:59,400 --> 00:04:01,800 Speaker 1: bikes and beer, their hugs. They're important. But bike sales 92 00:04:01,800 --> 00:04:04,360 Speaker 1: are actually way up, and we talked about that earlier 93 00:04:04,360 --> 00:04:07,920 Speaker 1: in the pandemic. But bike sales continue to just shoot 94 00:04:07,920 --> 00:04:11,280 Speaker 1: through the roof. And when we're talking about bikes along 95 00:04:11,320 --> 00:04:14,840 Speaker 1: with accessories including helmets and stuff, a billion dollars of 96 00:04:14,880 --> 00:04:17,360 Speaker 1: bike goods were sold in April, which is up sev 97 00:04:18,080 --> 00:04:20,240 Speaker 1: from the previous year. Yeah. Yeah, you and I we 98 00:04:20,240 --> 00:04:21,800 Speaker 1: were certainly part of that spike in demand. You bought 99 00:04:21,839 --> 00:04:23,279 Speaker 1: a bike for yourself. I bought a bike for my 100 00:04:23,320 --> 00:04:25,520 Speaker 1: four year old. Now she's riding on the bikes for 101 00:04:25,520 --> 00:04:27,600 Speaker 1: our kids as well. Yeah, all of this, it's hard 102 00:04:27,640 --> 00:04:29,880 Speaker 1: to believe that this is all recent, but this was 103 00:04:29,920 --> 00:04:32,920 Speaker 1: all this past spring, right. Yeah, everybody's like it's time, 104 00:04:32,920 --> 00:04:34,360 Speaker 1: like let's get out there on the bikes, and more 105 00:04:34,400 --> 00:04:36,480 Speaker 1: and more people are doing it, and it's just kind 106 00:04:36,480 --> 00:04:38,640 Speaker 1: of crazy to see the bike boom that's happening. And 107 00:04:38,640 --> 00:04:40,479 Speaker 1: I feel like I'm seeing all my neighbors around bikes 108 00:04:40,480 --> 00:04:42,479 Speaker 1: more often too. Yeah, it's I'm just happy to see 109 00:04:42,520 --> 00:04:45,520 Speaker 1: so many more people joining us in our favorite money 110 00:04:45,520 --> 00:04:47,640 Speaker 1: saving pastime. Man. You know. And there was a really 111 00:04:47,640 --> 00:04:51,200 Speaker 1: interesting article about the major bike company Trek in Medium. 112 00:04:51,200 --> 00:04:53,200 Speaker 1: Will will link to that in our show notes. But 113 00:04:53,200 --> 00:04:55,920 Speaker 1: they mentioned how it really has been a perfect storm 114 00:04:55,960 --> 00:04:58,000 Speaker 1: for bike sales in so many ways, you know, like 115 00:04:58,080 --> 00:05:01,080 Speaker 1: fear folks want to take public transfer station right, so there, 116 00:05:01,120 --> 00:05:03,320 Speaker 1: that's one thing. Gyms are closed, and so folks are 117 00:05:03,320 --> 00:05:05,599 Speaker 1: looking for a way to kind of get the workout on. 118 00:05:06,200 --> 00:05:07,520 Speaker 1: And then on top of that, like you and I, 119 00:05:07,640 --> 00:05:09,480 Speaker 1: you know, there's parents out there wanting to get their 120 00:05:09,560 --> 00:05:13,240 Speaker 1: kids off of screens and getting them outside. Treks bike 121 00:05:13,279 --> 00:05:15,880 Speaker 1: sales are through the roof, and their CEO even said 122 00:05:15,920 --> 00:05:18,520 Speaker 1: that their their sales could have even been twice what 123 00:05:18,600 --> 00:05:20,599 Speaker 1: they were if they had been able to ramp up 124 00:05:20,640 --> 00:05:23,400 Speaker 1: production in a bigger way. Because the you know, supply 125 00:05:23,480 --> 00:05:25,719 Speaker 1: chains were disrupted in a lot of different components come 126 00:05:25,839 --> 00:05:28,159 Speaker 1: from all different parts of the world. It makes it 127 00:05:28,200 --> 00:05:31,240 Speaker 1: difficult to keep up with this massive spike in demand. Yeah, 128 00:05:31,279 --> 00:05:33,000 Speaker 1: it was kind of crazy to read about the supply 129 00:05:33,080 --> 00:05:35,240 Speaker 1: chain and how there's all these different components that they're 130 00:05:35,240 --> 00:05:38,080 Speaker 1: getting from all over the world, you know, mostly in China, 131 00:05:38,520 --> 00:05:40,280 Speaker 1: but then they have to be put together. It can 132 00:05:40,279 --> 00:05:42,159 Speaker 1: take a hundred twenty days to actually build a bike. 133 00:05:42,279 --> 00:05:45,000 Speaker 1: It certainly makes me appreciate the bike manufacturing process a 134 00:05:45,000 --> 00:05:47,800 Speaker 1: little bit more y versus me getting it at home 135 00:05:47,800 --> 00:05:50,120 Speaker 1: and it's ninety put together and just like, oh, I 136 00:05:50,240 --> 00:05:53,599 Speaker 1: gotta get the petals and the handlebars on well too. 137 00:05:53,760 --> 00:05:56,560 Speaker 1: It's just kind of crazy. Apparently their warehouse is completely empty, 138 00:05:56,600 --> 00:05:58,760 Speaker 1: which it must be an eerie feeling because it's this 139 00:05:58,880 --> 00:06:01,960 Speaker 1: enormous space that's typically full of packages of bikes, but 140 00:06:02,000 --> 00:06:04,520 Speaker 1: they've sold through them. Also, good luck to people out 141 00:06:04,560 --> 00:06:06,719 Speaker 1: there who are looking to buy a bike, because it's 142 00:06:06,720 --> 00:06:10,200 Speaker 1: harder to do right now. Speaking of new bikes, Matt, actually, 143 00:06:10,200 --> 00:06:11,960 Speaker 1: when I purchased my bike for the four year old, 144 00:06:12,040 --> 00:06:14,480 Speaker 1: we got it from ari e I, And I actually 145 00:06:14,520 --> 00:06:16,640 Speaker 1: just saw an article in the Wall Street Journal and 146 00:06:16,760 --> 00:06:20,440 Speaker 1: saying that ari I is going to sell their sweet 147 00:06:20,440 --> 00:06:22,840 Speaker 1: new corporate headquarters, which they never even got to use 148 00:06:22,920 --> 00:06:26,559 Speaker 1: due to COVID. They built this beautiful, gorgeous office space 149 00:06:26,960 --> 00:06:31,200 Speaker 1: new headquarters in Washington State and because of shelter in place, 150 00:06:31,200 --> 00:06:33,840 Speaker 1: because of more working from home. Are I realized that 151 00:06:33,880 --> 00:06:36,040 Speaker 1: it didn't make much sense to kind of hold onto 152 00:06:36,040 --> 00:06:39,320 Speaker 1: this new headquarters and that collaboration for their employees doesn't 153 00:06:39,320 --> 00:06:41,960 Speaker 1: require this single location. No matter how beautiful it is. 154 00:06:42,680 --> 00:06:45,839 Speaker 1: The renderings look incredible. I didn't actually see a picture 155 00:06:45,839 --> 00:06:48,039 Speaker 1: of it completed, but it's almost built as a like 156 00:06:48,040 --> 00:06:50,200 Speaker 1: a summer camp for adults. Like they've got like giant 157 00:06:50,279 --> 00:06:53,240 Speaker 1: glass lighting doors, and you know, like rooftop terraces, native 158 00:06:53,240 --> 00:06:56,080 Speaker 1: plants they're incorporated into the design as well. You know, 159 00:06:56,120 --> 00:06:58,520 Speaker 1: I totally understand that things have completely changed, you know 160 00:06:58,520 --> 00:07:01,440 Speaker 1: in companies that they're going to start upending plans to 161 00:07:01,480 --> 00:07:04,120 Speaker 1: build or even get rid of current office space. But 162 00:07:04,200 --> 00:07:06,960 Speaker 1: even still, if I were an ARII corporate employee, I 163 00:07:06,960 --> 00:07:09,840 Speaker 1: would totally be bummed. But this is just another example 164 00:07:09,920 --> 00:07:14,440 Speaker 1: of companies of employers moving to less centralized, you know, 165 00:07:14,480 --> 00:07:17,640 Speaker 1: corporate offices, as we've learned that so much collaboration and 166 00:07:17,720 --> 00:07:20,360 Speaker 1: so much of the work that we do today can 167 00:07:20,400 --> 00:07:22,880 Speaker 1: be done from our individual homes. Yeah, and it sounds 168 00:07:22,880 --> 00:07:24,920 Speaker 1: like ari I is gonna put some of those resources 169 00:07:25,120 --> 00:07:27,560 Speaker 1: instead of into that fancy building that's now on the market. 170 00:07:27,800 --> 00:07:30,080 Speaker 1: They're going to use it to you know, speed up 171 00:07:30,120 --> 00:07:32,800 Speaker 1: other improvements in how they do business, and in particular, 172 00:07:33,040 --> 00:07:36,080 Speaker 1: you know the customer facing stuff with touchless pickup. So yeah, 173 00:07:36,080 --> 00:07:38,560 Speaker 1: I still love our I I love the return policy, man, 174 00:07:38,600 --> 00:07:41,120 Speaker 1: I love just everything about that company. But on that 175 00:07:41,160 --> 00:07:43,440 Speaker 1: note of working from home, Matt, it's no surprise that 176 00:07:43,480 --> 00:07:46,040 Speaker 1: a lot of people's electricity bills are on the rise. 177 00:07:46,480 --> 00:07:49,280 Speaker 1: It's getting super hot out there, and especially here where 178 00:07:49,280 --> 00:07:51,680 Speaker 1: we are in Atlanta, and because a lot of us 179 00:07:51,680 --> 00:07:53,840 Speaker 1: are now in our homes twenty four hours a day, 180 00:07:54,040 --> 00:07:57,120 Speaker 1: our A C units are working overtime, and I know, 181 00:07:57,160 --> 00:07:59,520 Speaker 1: like typically when when we leave the house during the day, 182 00:07:59,800 --> 00:08:01,800 Speaker 1: you know, we set the temperature up a little bit, 183 00:08:02,040 --> 00:08:04,560 Speaker 1: and people probably aren't doing that as much because they're 184 00:08:04,560 --> 00:08:06,760 Speaker 1: in their homes more. The AC units are probably on 185 00:08:06,800 --> 00:08:08,520 Speaker 1: a good bit of the time. And that means our 186 00:08:08,560 --> 00:08:11,160 Speaker 1: electricity bills are going up. And there's not much that 187 00:08:11,200 --> 00:08:12,880 Speaker 1: we can do except for to tell you to bump 188 00:08:12,920 --> 00:08:14,640 Speaker 1: it up a degree or two in order to help 189 00:08:14,680 --> 00:08:17,200 Speaker 1: save you from an outrageous electricity bill. But one thing 190 00:08:17,240 --> 00:08:19,560 Speaker 1: that is important is to change your filters, because it's 191 00:08:19,560 --> 00:08:22,680 Speaker 1: actually the number one reason that a c units breakdown, 192 00:08:23,040 --> 00:08:25,000 Speaker 1: and it's the number one reason that they're inefficient or 193 00:08:25,040 --> 00:08:27,480 Speaker 1: working too hard. So set a reminder or get a 194 00:08:27,520 --> 00:08:30,640 Speaker 1: thermostat that reminds you to change your filters, because if 195 00:08:30,640 --> 00:08:33,280 Speaker 1: you forget, it's totally not good for the bill you 196 00:08:33,360 --> 00:08:36,839 Speaker 1: might receive from an HVACT technician. That's true. Man, Hey, 197 00:08:36,880 --> 00:08:38,560 Speaker 1: I've got a deal of the week. That's what I'm 198 00:08:38,559 --> 00:08:41,040 Speaker 1: gonna call it deal of the week for you bring it. 199 00:08:41,160 --> 00:08:43,280 Speaker 1: That's all. The movie theaters are going to be opening 200 00:08:43,559 --> 00:08:47,480 Speaker 1: next Thursday, specifically, AMC man. They are selling tickets for 201 00:08:47,679 --> 00:08:51,000 Speaker 1: fifteen cents what a ticket? Yeah, to celebrate their you know, 202 00:08:51,080 --> 00:08:53,679 Speaker 1: their hundredth anniversary, that's what they're saying. At least, I'm 203 00:08:53,679 --> 00:08:55,680 Speaker 1: sure it's also to try to like get people back 204 00:08:55,679 --> 00:08:57,600 Speaker 1: into the movie theaters. But they're saying that they're going 205 00:08:57,640 --> 00:09:01,199 Speaker 1: to sell them at nine prices, you knowwy, It's like, 206 00:09:01,240 --> 00:09:03,959 Speaker 1: all right, back in tickets cost fifteen cents, let's sell 207 00:09:04,000 --> 00:09:06,120 Speaker 1: them for a fifteen cents to lessen in inflation right there, 208 00:09:06,120 --> 00:09:09,480 Speaker 1: because movie movie tickets cost a whole lot more than that. Now. Yeah, seriously, 209 00:09:09,480 --> 00:09:11,560 Speaker 1: I appreciate that they're not trying to sell still tickets 210 00:09:11,559 --> 00:09:15,360 Speaker 1: at twenty prices would be like fours, I guess exactly. 211 00:09:15,520 --> 00:09:17,280 Speaker 1: But yeah, they're trying to entice us through the doors, 212 00:09:17,640 --> 00:09:19,200 Speaker 1: hoping that we can't turn down that deal. I feel 213 00:09:19,200 --> 00:09:20,560 Speaker 1: like that's something that you would do, Joel, You're like 214 00:09:20,760 --> 00:09:24,560 Speaker 1: fifteen cent tickets. I gotta be there. If I actually 215 00:09:24,559 --> 00:09:26,440 Speaker 1: went to movies, it would be hard to resist. But 216 00:09:26,600 --> 00:09:28,280 Speaker 1: I've got kids. Man, I haven't been to the movies 217 00:09:28,360 --> 00:09:30,640 Speaker 1: in at least a year. I got it, I guess, yeah. Well, 218 00:09:30,640 --> 00:09:31,920 Speaker 1: I mean the other thing is too, is like the 219 00:09:31,960 --> 00:09:34,559 Speaker 1: health risk, you know, like is it worth it to 220 00:09:34,360 --> 00:09:36,480 Speaker 1: to go to a movie theater and be surrounded by 221 00:09:36,640 --> 00:09:38,200 Speaker 1: by a bunch of folks? Like would you do it? 222 00:09:38,280 --> 00:09:39,720 Speaker 1: What if there was a movie out that you wanted 223 00:09:39,760 --> 00:09:41,840 Speaker 1: to go see and kids weren't an issue, Like would 224 00:09:41,880 --> 00:09:44,079 Speaker 1: you're gonna watch my kids for me? Sure? Yeah, I'll 225 00:09:44,080 --> 00:09:46,480 Speaker 1: get it. So I saw that they're gonna require everyone's 226 00:09:46,480 --> 00:09:49,800 Speaker 1: required a wear masks. The capacity within the auditoriums is 227 00:09:49,800 --> 00:09:52,640 Speaker 1: reduced to like or less, But even still, I'm not 228 00:09:52,640 --> 00:09:54,800 Speaker 1: sure if I would do it. Yeah, that's a good question. 229 00:09:54,800 --> 00:09:57,760 Speaker 1: I'm not a hundred percent sure. Everyone's got different comfortability levels, 230 00:09:58,120 --> 00:10:02,240 Speaker 1: and I think because um, watching a movie is is 231 00:10:02,280 --> 00:10:04,360 Speaker 1: so much more of like a leisurely fun item. I 232 00:10:04,400 --> 00:10:06,520 Speaker 1: probably wouldn't do it, Like going to get a haircut. 233 00:10:06,679 --> 00:10:08,200 Speaker 1: At some point, I gotta get a haircut, right, And 234 00:10:08,200 --> 00:10:09,880 Speaker 1: I guess I could do it myself, right, But could 235 00:10:09,880 --> 00:10:11,760 Speaker 1: you some clippers? Yeah, I mean you do it, but 236 00:10:12,000 --> 00:10:14,400 Speaker 1: I need to get on that train. But I don't mind. 237 00:10:14,840 --> 00:10:16,880 Speaker 1: You know, I've only done it once since some pandemic started. 238 00:10:16,880 --> 00:10:18,360 Speaker 1: But I'd go in there and get my hair cut again. 239 00:10:18,760 --> 00:10:21,800 Speaker 1: But going to see a movie, even a little superfluous, yeah, 240 00:10:21,920 --> 00:10:25,440 Speaker 1: even even at the fifteen cents, I probably would have. 241 00:10:25,760 --> 00:10:27,160 Speaker 1: It's not gonna pull you in. I don't think so. 242 00:10:27,520 --> 00:10:29,040 Speaker 1: I don't think so. Well. The other thing I was 243 00:10:29,080 --> 00:10:30,959 Speaker 1: thinking of, too, is what are they gonna do about 244 00:10:31,320 --> 00:10:34,679 Speaker 1: buying popcorn and and coke? Like concessions? That's good. I 245 00:10:34,720 --> 00:10:37,040 Speaker 1: mean probably can't put food in your mouth, you can't 246 00:10:37,120 --> 00:10:40,280 Speaker 1: drink without taking off your mask. So I'm getting concessions 247 00:10:40,280 --> 00:10:42,079 Speaker 1: have to be shut down. Well I don't think they are. 248 00:10:42,160 --> 00:10:43,800 Speaker 1: That's the thing. They say that masks have to stay 249 00:10:43,840 --> 00:10:46,360 Speaker 1: on except for when you, you know, are drinking, eating 250 00:10:46,440 --> 00:10:49,200 Speaker 1: or drinking. And I can come on, who's gonna sit 251 00:10:49,240 --> 00:10:51,240 Speaker 1: there during a movie watch, you know, pull down the 252 00:10:51,280 --> 00:10:53,280 Speaker 1: mask to throw some popcorn in there and put the 253 00:10:53,280 --> 00:10:55,360 Speaker 1: mask back. No, you're watching the movie, You're you're taking 254 00:10:55,360 --> 00:10:57,600 Speaker 1: the mask off. It's not going back on. It's gonna 255 00:10:57,720 --> 00:11:00,240 Speaker 1: guarantee it. Yeah, that's another reason probably to have wid it, 256 00:11:00,280 --> 00:11:02,920 Speaker 1: even those cheap Yeah. Well that's our personal recommendation, because 257 00:11:03,040 --> 00:11:04,960 Speaker 1: you know, there's a lot of COVID cases here in Atlanta, 258 00:11:05,000 --> 00:11:07,120 Speaker 1: but I know there's a lot of places where it's 259 00:11:07,160 --> 00:11:09,280 Speaker 1: really not a concern. It's like a different world. Yeah, 260 00:11:09,360 --> 00:11:11,720 Speaker 1: that's true. Completely depends on where you live. Some places 261 00:11:11,760 --> 00:11:14,120 Speaker 1: it's all there's almost no risk involved, and then where 262 00:11:14,160 --> 00:11:16,320 Speaker 1: we live there's just a lot more risk involved. All right, man, 263 00:11:16,400 --> 00:11:19,440 Speaker 1: let's talk about the executive order. And it's been kind 264 00:11:19,480 --> 00:11:23,640 Speaker 1: of confusing since on Saturday, Trump issued those executive orders 265 00:11:23,760 --> 00:11:27,200 Speaker 1: as Congress was like basically completely unable to strike any 266 00:11:27,240 --> 00:11:30,559 Speaker 1: sort of compromise on a stimulus bill, and one I'm 267 00:11:30,559 --> 00:11:33,200 Speaker 1: a little frustrated with our politicians for their inability to 268 00:11:33,200 --> 00:11:36,199 Speaker 1: to work together. But then those executive orders actually created 269 00:11:36,200 --> 00:11:38,160 Speaker 1: a lot of confusion and people are like, huh, what 270 00:11:38,240 --> 00:11:40,960 Speaker 1: does this mean? And there's obviously a question of legality 271 00:11:41,000 --> 00:11:42,839 Speaker 1: at the same time. But I think a huge part 272 00:11:42,840 --> 00:11:45,760 Speaker 1: of the reason that these executive orders were issued was 273 00:11:45,800 --> 00:11:48,200 Speaker 1: actually to kind of be a goad to spur on 274 00:11:48,360 --> 00:11:52,120 Speaker 1: Congress towards renewing some talks to get them going in 275 00:11:52,160 --> 00:11:54,920 Speaker 1: the right direction so that they can accomplish something meaningful 276 00:11:55,080 --> 00:11:57,160 Speaker 1: for the people that are hurting right now. But even 277 00:11:57,280 --> 00:12:00,800 Speaker 1: after those executive orders were were made, um, we're still 278 00:12:00,840 --> 00:12:04,000 Speaker 1: hearing nothing from from Congress on a future relief bill. 279 00:12:04,080 --> 00:12:05,640 Speaker 1: So it feels like there's something in report, but also 280 00:12:05,720 --> 00:12:07,480 Speaker 1: kind of like nothing to report, right. Yeah, And it's 281 00:12:07,480 --> 00:12:09,720 Speaker 1: worth mentioning to I guess what was included in those orders, 282 00:12:09,720 --> 00:12:12,520 Speaker 1: because they might be indicative of what actually comes to pass. 283 00:12:13,000 --> 00:12:15,800 Speaker 1: And so in those executive orders, federal student loan payments 284 00:12:15,800 --> 00:12:18,480 Speaker 1: and interest were suspended through the rest of the year. 285 00:12:18,840 --> 00:12:22,199 Speaker 1: Federal unemployment benefits they're supposed to continue, but now at 286 00:12:22,200 --> 00:12:25,679 Speaker 1: a lesser per week instead of the six hundred. There 287 00:12:25,760 --> 00:12:28,400 Speaker 1: was also it's kind of this confusing peril tax refral 288 00:12:28,440 --> 00:12:31,080 Speaker 1: thrown in there. And then there was also an eviction 289 00:12:31,240 --> 00:12:35,800 Speaker 1: moratorium included as well in those recent executive orders. But again, 290 00:12:35,840 --> 00:12:37,640 Speaker 1: even though these are orders that he issued, it's a 291 00:12:37,640 --> 00:12:41,120 Speaker 1: little bit confusing because he doesn't necessarily have the power 292 00:12:41,160 --> 00:12:44,160 Speaker 1: to implement these things. Right Congress, they hold the power 293 00:12:44,160 --> 00:12:46,760 Speaker 1: of the purse, and so when it comes to changes 294 00:12:46,960 --> 00:12:51,600 Speaker 1: that require funding, that's something that only Congress has authority over. Yes, 295 00:12:51,679 --> 00:12:53,800 Speaker 1: so we'll certainly keep an eye on on these executive 296 00:12:53,880 --> 00:12:57,200 Speaker 1: orders and whether implementation actually happens on any of these things, 297 00:12:57,440 --> 00:13:01,320 Speaker 1: or hopefully hopefully Congress comes to some sort of uh 298 00:13:01,520 --> 00:13:04,680 Speaker 1: an agreement on the next steps in regards to a 299 00:13:04,720 --> 00:13:07,200 Speaker 1: relief bill so that we can forget this happened altogether, 300 00:13:07,360 --> 00:13:09,079 Speaker 1: these executive orders and we can come up with something 301 00:13:09,120 --> 00:13:11,439 Speaker 1: that's actually gonna deliver money into the right places to 302 00:13:11,440 --> 00:13:13,800 Speaker 1: help the people that are struggling the most right now. Yeah, 303 00:13:13,840 --> 00:13:15,360 Speaker 1: although Joel I just saw too that a lot of 304 00:13:15,360 --> 00:13:18,800 Speaker 1: policy experts are saying it could easily be until September 305 00:13:18,920 --> 00:13:21,880 Speaker 1: before an agreement is reached, and so we will, yeah, 306 00:13:22,000 --> 00:13:25,000 Speaker 1: keep our listeners updated and posted, but I'm not necessarily 307 00:13:25,000 --> 00:13:27,319 Speaker 1: going to hold my breath in the meantime. At the 308 00:13:27,360 --> 00:13:30,400 Speaker 1: same time, how do money listeners like as we look 309 00:13:30,440 --> 00:13:32,160 Speaker 1: to see what the government's going to do in regards 310 00:13:32,200 --> 00:13:35,520 Speaker 1: to another stimulus check or more unemployment benefits. At the 311 00:13:35,520 --> 00:13:37,320 Speaker 1: same time, we have to take control of the things 312 00:13:37,400 --> 00:13:39,400 Speaker 1: we can take control of, and this is something that 313 00:13:39,400 --> 00:13:41,400 Speaker 1: will will keep an eye on because we know it 314 00:13:41,440 --> 00:13:43,640 Speaker 1: impacts all of us, um But at the same time, 315 00:13:43,679 --> 00:13:45,600 Speaker 1: we have to do our best with our own personal 316 00:13:45,640 --> 00:13:48,200 Speaker 1: finances in the midst of this craziness exactly. Yeah, these 317 00:13:48,200 --> 00:13:51,240 Speaker 1: stimulus bills aren't everything, and so Joel, We've got more 318 00:13:51,360 --> 00:13:53,520 Speaker 1: to get to, including good news about how Americans are 319 00:13:53,520 --> 00:14:06,760 Speaker 1: approaching debts and more. Right after this break. All right, Matt, 320 00:14:06,760 --> 00:14:08,720 Speaker 1: we're back from the break. You just asked me whether 321 00:14:08,760 --> 00:14:10,480 Speaker 1: I was going to go see a movie in a 322 00:14:10,520 --> 00:14:13,199 Speaker 1: movie theater, and you know, I think it turns out 323 00:14:13,200 --> 00:14:17,040 Speaker 1: probably not, But I did recently getting an airplane. Oh yeah, 324 00:14:17,120 --> 00:14:18,760 Speaker 1: you're gonna share that with folks, So yeah, I know 325 00:14:18,760 --> 00:14:22,160 Speaker 1: if you're gonna like spill the beans. Well, so, you know, 326 00:14:22,280 --> 00:14:24,520 Speaker 1: my my family and we traveled to Memphis to see 327 00:14:24,880 --> 00:14:28,400 Speaker 1: some of my wife's family and then they actually hung 328 00:14:28,400 --> 00:14:29,680 Speaker 1: out there for a good bit longer. But I had 329 00:14:29,720 --> 00:14:31,560 Speaker 1: to come home. So I hopped on an airplane, and 330 00:14:31,600 --> 00:14:33,200 Speaker 1: I will say I felt pretty safe. I was wearing 331 00:14:33,240 --> 00:14:35,360 Speaker 1: a mask, everybody else was wearing a mask. The plane 332 00:14:35,400 --> 00:14:40,120 Speaker 1: was maybe full, the airport felt like a ghost town. That. Yeah, 333 00:14:40,120 --> 00:14:42,600 Speaker 1: so probably not something I'm gonna do to hop across 334 00:14:42,640 --> 00:14:44,400 Speaker 1: the pond or something like that, or even to go 335 00:14:44,440 --> 00:14:46,960 Speaker 1: on vacation right now, But I didn't feel terribly unsafe 336 00:14:46,960 --> 00:14:48,920 Speaker 1: getting on an airplane to come home. Yeah. And the 337 00:14:48,960 --> 00:14:50,960 Speaker 1: reason that you mentioned that, man, is that we saw 338 00:14:51,000 --> 00:14:53,200 Speaker 1: that the U. S. State Department has lifted a global 339 00:14:53,240 --> 00:14:56,360 Speaker 1: advisory on international travel that was put into place five 340 00:14:56,400 --> 00:14:58,360 Speaker 1: months ago. And so a question I think a lot 341 00:14:58,400 --> 00:15:01,000 Speaker 1: of folks might be asking themselves is whether or not 342 00:15:01,120 --> 00:15:03,080 Speaker 1: it's safe to travel. So a lot of that comes 343 00:15:03,080 --> 00:15:06,240 Speaker 1: down to, you know, the the individual, but it also 344 00:15:06,320 --> 00:15:08,760 Speaker 1: kind of comes down to where we are allowed or 345 00:15:09,040 --> 00:15:11,760 Speaker 1: able to travel to. Right, most of the countries won't 346 00:15:11,840 --> 00:15:14,880 Speaker 1: let us in their borders because of our hard number 347 00:15:14,960 --> 00:15:18,080 Speaker 1: of new COVID cases. You know, the EU, they've lifted 348 00:15:18,080 --> 00:15:21,280 Speaker 1: travel bands on visitors from fourteen different countries, but the US, 349 00:15:21,400 --> 00:15:23,560 Speaker 1: of course, isn't one of them. So even if you 350 00:15:23,680 --> 00:15:26,200 Speaker 1: felt completely comfortable of flying internationally and you wanted to 351 00:15:26,240 --> 00:15:28,360 Speaker 1: maybe take a little trip take advantage of any deals 352 00:15:28,360 --> 00:15:30,520 Speaker 1: that you may have come across, you may not even 353 00:15:30,520 --> 00:15:32,600 Speaker 1: be able to. Yeah, they won't let you in, So 354 00:15:32,880 --> 00:15:35,280 Speaker 1: don't even bother right, and yet at the same time, Matt, 355 00:15:35,320 --> 00:15:37,360 Speaker 1: I think airplanes, you know, they're not the most dangerous 356 00:15:37,360 --> 00:15:39,680 Speaker 1: place to be. We had a travel expert on a 357 00:15:39,680 --> 00:15:42,000 Speaker 1: couple of months ago and he shed some light on that. 358 00:15:42,360 --> 00:15:45,360 Speaker 1: But a recent study shows that fifty of Americans aren't 359 00:15:45,360 --> 00:15:47,680 Speaker 1: ready to travel on an airplane right now, and even 360 00:15:47,800 --> 00:15:50,520 Speaker 1: fewer are willing to travel internationally even if they could, 361 00:15:50,920 --> 00:15:53,720 Speaker 1: and specifically on any flights of six hours or longer. 362 00:15:53,800 --> 00:15:55,840 Speaker 1: Is how the question was phrased, and that actually kind 363 00:15:55,840 --> 00:15:58,200 Speaker 1: of works out. So if people are okay traveling on 364 00:15:58,240 --> 00:16:01,000 Speaker 1: an airplane hopping to a cool desk nation, well, if 365 00:16:01,040 --> 00:16:03,800 Speaker 1: they want a short flight domestically, that's actually where the 366 00:16:03,840 --> 00:16:07,200 Speaker 1: best deals are right now. Anyway, airlines have like drastically 367 00:16:07,200 --> 00:16:10,120 Speaker 1: cut the amount of flights that they're sending internationally, so 368 00:16:10,160 --> 00:16:12,560 Speaker 1: there's just more activity going on domestically, and there's more 369 00:16:12,640 --> 00:16:14,360 Speaker 1: room to be able to get a deal. So if 370 00:16:14,360 --> 00:16:17,080 Speaker 1: you're in that half that fifty of people who say, yeah, 371 00:16:17,080 --> 00:16:18,720 Speaker 1: I don't mind getting on an airplane, especially if I 372 00:16:18,760 --> 00:16:20,120 Speaker 1: can make the trip for a whole lot less money 373 00:16:20,160 --> 00:16:23,440 Speaker 1: than usual, then keep your eyes peeled and search sites 374 00:16:23,480 --> 00:16:26,080 Speaker 1: like Google, dot Com, Slash, flights or sign up for 375 00:16:26,120 --> 00:16:28,400 Speaker 1: a Sitelight Scotch cheap flights so you can find some 376 00:16:28,440 --> 00:16:31,000 Speaker 1: of the cheapest deals. Yeah, man. And something else worth 377 00:16:31,000 --> 00:16:32,800 Speaker 1: noting is that you used to always find the best 378 00:16:32,920 --> 00:16:36,440 Speaker 1: domestic flight deals around one to three months in advance, 379 00:16:36,680 --> 00:16:40,080 Speaker 1: but now, because of the lack of business travelers, there 380 00:16:40,280 --> 00:16:42,680 Speaker 1: have been last minute deals popping up. You know, like 381 00:16:42,720 --> 00:16:44,800 Speaker 1: those used to be the flights that last minute business 382 00:16:44,840 --> 00:16:47,080 Speaker 1: travelers that they would put on their corporate card. They 383 00:16:47,080 --> 00:16:49,400 Speaker 1: didn't care about the price, or I guess you'd say 384 00:16:49,400 --> 00:16:51,480 Speaker 1: that they were priced and sensitive. But because there are 385 00:16:51,560 --> 00:16:54,640 Speaker 1: fewer of those last minute business travelers, some of those 386 00:16:54,640 --> 00:16:57,120 Speaker 1: seats are going for pretty cheap. And so actually, back 387 00:16:57,160 --> 00:16:59,560 Speaker 1: to you, when you were getting that flight from Memphis, 388 00:16:59,640 --> 00:17:01,480 Speaker 1: did you get a pretty good deal? Yeah, I got 389 00:17:01,520 --> 00:17:04,080 Speaker 1: a really good deal Bucks one way, But actually it's 390 00:17:04,080 --> 00:17:07,080 Speaker 1: really good. Yeah. I use some points because I had 391 00:17:07,080 --> 00:17:09,719 Speaker 1: some Southwest points hanging around and Southwest. The great thing 392 00:17:09,840 --> 00:17:11,960 Speaker 1: is too that that's one of the reasons I like 393 00:17:12,000 --> 00:17:14,000 Speaker 1: booking the Southwest is because they offer you the most 394 00:17:14,040 --> 00:17:16,840 Speaker 1: flexibility to change a flight when you want to, and 395 00:17:16,880 --> 00:17:19,119 Speaker 1: they don't charge you outrageous fees to do it, and 396 00:17:19,119 --> 00:17:20,560 Speaker 1: so I knew if the price goes down, I can 397 00:17:20,600 --> 00:17:23,320 Speaker 1: always cancel that flight rebook another one. So you keep 398 00:17:23,320 --> 00:17:24,800 Speaker 1: that in mind too when you're when you're booking a 399 00:17:24,840 --> 00:17:28,280 Speaker 1: flight and matt While while Southwest offers a lot of flexibility, 400 00:17:28,359 --> 00:17:31,479 Speaker 1: other airlines not so much these days, and getting refunds 401 00:17:31,480 --> 00:17:33,520 Speaker 1: in particular is not going well for lots of people. 402 00:17:33,840 --> 00:17:37,480 Speaker 1: Airlines are currently actually holding onto billions of dollars in refunds, 403 00:17:37,680 --> 00:17:39,800 Speaker 1: and they're making it super difficult for anyone to get 404 00:17:39,840 --> 00:17:42,120 Speaker 1: their money back due to no fault of their own, 405 00:17:42,200 --> 00:17:44,359 Speaker 1: as countries have been locked down and flights are being 406 00:17:44,400 --> 00:17:47,200 Speaker 1: canceled through the spring, and the hoops that they're making 407 00:17:47,200 --> 00:17:50,040 Speaker 1: passengers jump through in particular, it's like, it's shameful, man, 408 00:17:50,080 --> 00:17:53,399 Speaker 1: it's terrible, And especially considering that the airlines received just 409 00:17:53,440 --> 00:17:55,919 Speaker 1: this massive amount of money sixty billion dollars as a 410 00:17:55,960 --> 00:17:58,960 Speaker 1: part of the stimulus build this past spring, I feel 411 00:17:59,000 --> 00:18:00,440 Speaker 1: like it's even more of a slap in the face 412 00:18:00,560 --> 00:18:03,040 Speaker 1: to us and to everybody out there who is seeking 413 00:18:03,119 --> 00:18:05,000 Speaker 1: some sort of a refund. And on top of that, 414 00:18:05,000 --> 00:18:08,600 Speaker 1: because passenger refunds for canceled flights are this legal obligation 415 00:18:08,960 --> 00:18:11,920 Speaker 1: that airlines have to their customers, and they're not doing 416 00:18:11,920 --> 00:18:13,560 Speaker 1: it right now. They're just doing everything they can to 417 00:18:13,640 --> 00:18:16,280 Speaker 1: avoid giving refunds to people. Yea. And so if we 418 00:18:16,320 --> 00:18:19,439 Speaker 1: are describing your situation, we'd encourage you not to get 419 00:18:19,480 --> 00:18:22,720 Speaker 1: pushed around by the airline company and continue to demand 420 00:18:22,880 --> 00:18:25,960 Speaker 1: your refund. We'd recommend that you keep a log document 421 00:18:26,000 --> 00:18:28,280 Speaker 1: your efforts as well as you know what the airline 422 00:18:28,320 --> 00:18:30,760 Speaker 1: says that they'll do, but be prepared to spend some 423 00:18:30,840 --> 00:18:33,879 Speaker 1: time fighting for your rights. A Harvard Business Review article 424 00:18:33,880 --> 00:18:37,040 Speaker 1: found that the average American consumer that they spend thirteen 425 00:18:37,080 --> 00:18:40,440 Speaker 1: hours every year stuck on hold trying to resolve problems 426 00:18:40,640 --> 00:18:43,160 Speaker 1: with individual companies. You know, when you're stuck on hold 427 00:18:43,160 --> 00:18:45,919 Speaker 1: for an hour, it feels like thirteen hours. But if 428 00:18:45,960 --> 00:18:48,960 Speaker 1: you're stuck on hold for thirteen hours like dog years, Yeah, yeah, 429 00:18:49,080 --> 00:18:50,639 Speaker 1: it's like what is that in consumer years, because it 430 00:18:50,680 --> 00:18:53,840 Speaker 1: feels like it's already been seventy consumer years or something. Yeah, 431 00:18:53,840 --> 00:18:55,920 Speaker 1: you know, like getting that run around it's so frustrating. 432 00:18:56,040 --> 00:18:58,399 Speaker 1: But you know, the airlines are banking on the fact 433 00:18:58,560 --> 00:19:01,199 Speaker 1: that individual consumers are going to accept less, you know, 434 00:19:01,280 --> 00:19:03,679 Speaker 1: or even stop fighting for their money altogether. And so 435 00:19:03,760 --> 00:19:05,880 Speaker 1: we want to encourage you to keep up the good 436 00:19:05,920 --> 00:19:08,480 Speaker 1: fight and don't fall for it. Yeah, and it's important 437 00:19:08,520 --> 00:19:11,280 Speaker 1: to know your rights, know what you're fighting for, know 438 00:19:11,320 --> 00:19:14,080 Speaker 1: what they're legally obligated to give you, and that can 439 00:19:14,119 --> 00:19:17,160 Speaker 1: actually help you push through the long hold times or 440 00:19:17,200 --> 00:19:20,399 Speaker 1: the unhelpful customer service representative. And if you're still not 441 00:19:20,440 --> 00:19:23,119 Speaker 1: able to get anywhere with the airline, file complaint with 442 00:19:23,160 --> 00:19:25,520 Speaker 1: the d o T. And there's an easy to fill 443 00:19:25,560 --> 00:19:28,600 Speaker 1: out online form to make your complaint heard with the authorities. 444 00:19:28,720 --> 00:19:30,879 Speaker 1: There's also a really helpful section on the d o 445 00:19:30,960 --> 00:19:33,760 Speaker 1: T s website that discusses your rights as a flyer. So, 446 00:19:33,800 --> 00:19:36,120 Speaker 1: for example, if your flight is changed so that you'll 447 00:19:36,200 --> 00:19:38,960 Speaker 1: arrive at your destination two or more hours after the 448 00:19:39,000 --> 00:19:42,040 Speaker 1: flight you originally booked, you're entitled to a massive reimbursement 449 00:19:42,040 --> 00:19:43,800 Speaker 1: on that one way fair and not just in a 450 00:19:43,840 --> 00:19:46,640 Speaker 1: voucher form, either like in cash or or a check. 451 00:19:46,960 --> 00:19:48,960 Speaker 1: So know your rights, fight for them. And Matt will 452 00:19:48,960 --> 00:19:51,560 Speaker 1: link to both of those sections of the d o 453 00:19:51,640 --> 00:19:54,199 Speaker 1: T website in our show notes. Nice, I would request 454 00:19:54,200 --> 00:19:56,880 Speaker 1: mine and two dollar bills. Those are extra special, they're 455 00:19:56,880 --> 00:19:59,719 Speaker 1: pretty cool. Just don't request it and change right now. 456 00:19:59,720 --> 00:20:03,480 Speaker 1: Remember we talked about the recently. One other story we 457 00:20:03,520 --> 00:20:07,320 Speaker 1: wanted to cover man was that we have seen household 458 00:20:07,320 --> 00:20:10,480 Speaker 1: debt decline for the first time in six years. Over 459 00:20:10,480 --> 00:20:13,240 Speaker 1: the past several months, consumers are paying off their credit 460 00:20:13,240 --> 00:20:15,479 Speaker 1: card debt, and we saw a similar pattern to this 461 00:20:15,680 --> 00:20:18,440 Speaker 1: during the Great Recession a decade ago. It's uh, it's 462 00:20:18,440 --> 00:20:21,359 Speaker 1: really encouraging to see people shoring up their finances in 463 00:20:21,359 --> 00:20:25,320 Speaker 1: the middle of a recession. Of course, economists and financial 464 00:20:25,359 --> 00:20:28,240 Speaker 1: experts are stating that the stimulus measures right, that they 465 00:20:28,280 --> 00:20:31,639 Speaker 1: had a lot to do with that twill one time checks, uh, 466 00:20:31,680 --> 00:20:34,080 Speaker 1: an extra six dollars a week and unemployment for a 467 00:20:34,119 --> 00:20:35,560 Speaker 1: lot of folks. That will do that for you, right, 468 00:20:35,960 --> 00:20:39,040 Speaker 1: But we can't ignore the impact that our own spending 469 00:20:39,280 --> 00:20:43,000 Speaker 1: has on our personal finances. With lockdown orders and an 470 00:20:43,040 --> 00:20:45,199 Speaker 1: ability to to go out and spend money like we 471 00:20:45,240 --> 00:20:48,240 Speaker 1: typically would, Americans had a lot more cash on hand 472 00:20:48,280 --> 00:20:51,480 Speaker 1: to aid in that debt payoff. And so I just 473 00:20:51,520 --> 00:20:53,720 Speaker 1: want to encourage folks as well to realize that we 474 00:20:53,800 --> 00:20:57,159 Speaker 1: have more of an internal locus of control than we think. Right. 475 00:20:57,200 --> 00:20:58,639 Speaker 1: A lot of times we think that like, oh, this 476 00:20:58,720 --> 00:21:01,159 Speaker 1: is what the economy is doing. Oh, you know, my 477 00:21:01,200 --> 00:21:04,720 Speaker 1: employers shut down, But we have way more control over 478 00:21:04,800 --> 00:21:07,080 Speaker 1: our money than we realize. That a lot of it 479 00:21:07,119 --> 00:21:10,280 Speaker 1: has to do with the expenses that we most definitely 480 00:21:10,280 --> 00:21:12,720 Speaker 1: have control over. And it always feels counterintuitive when I 481 00:21:12,720 --> 00:21:16,200 Speaker 1: read something like that, when unemployment has skyrocketed and people 482 00:21:16,200 --> 00:21:19,520 Speaker 1: are going through a hard time, how debt payoff happens 483 00:21:19,560 --> 00:21:21,760 Speaker 1: at a more rapid clip. But it is, and that's 484 00:21:21,760 --> 00:21:24,160 Speaker 1: actually encouraging to me, and it shows me too that 485 00:21:24,240 --> 00:21:26,560 Speaker 1: as things do start to get better, that we we 486 00:21:26,600 --> 00:21:29,200 Speaker 1: should maintain that focus towards paying down that debt because 487 00:21:29,200 --> 00:21:30,800 Speaker 1: we want to be in an even better position when 488 00:21:30,840 --> 00:21:33,680 Speaker 1: the next times of hardship come around, and then also too, 489 00:21:33,680 --> 00:21:35,520 Speaker 1: ma out with a lot of that extra money. Lots 490 00:21:35,520 --> 00:21:39,080 Speaker 1: of people have continued investing as well. Fidelity actually shared 491 00:21:39,119 --> 00:21:42,720 Speaker 1: that they had record breaking contributions to retirement accounts like 492 00:21:42,960 --> 00:21:45,680 Speaker 1: roth iras as Americans have attempted to get their financial 493 00:21:45,680 --> 00:21:47,880 Speaker 1: lives in order. You know, you and I, we obviously 494 00:21:48,040 --> 00:21:50,439 Speaker 1: are all about investing for the long term. But for 495 00:21:50,480 --> 00:21:52,840 Speaker 1: those people that did continue to invest in the downturn, 496 00:21:53,000 --> 00:21:55,120 Speaker 1: I think it's already had a payoff, as the SMP 497 00:21:55,200 --> 00:21:58,119 Speaker 1: five hundred has recovered to pre pandemic highs and it's 498 00:21:58,119 --> 00:22:01,160 Speaker 1: climbed about fifty from a low back in March. It's 499 00:22:01,200 --> 00:22:03,000 Speaker 1: just incredible. Yeah, it's one of those things that none 500 00:22:03,000 --> 00:22:05,120 Speaker 1: of us could have predicted, you know, in in mid 501 00:22:05,119 --> 00:22:07,639 Speaker 1: till late March or or April, that oh, yeah, the 502 00:22:07,680 --> 00:22:09,679 Speaker 1: stock market is going to be back exactly where it was. 503 00:22:10,040 --> 00:22:11,920 Speaker 1: And for the folks that did continue to invest, did 504 00:22:11,960 --> 00:22:15,320 Speaker 1: continue to dollar cost average during the downturn, they're reaping 505 00:22:15,359 --> 00:22:18,480 Speaker 1: the rewards of continuing that discipline. Yeah. In general, you know, 506 00:22:18,520 --> 00:22:21,119 Speaker 1: I think our country could use a complete mindset shift 507 00:22:21,240 --> 00:22:22,879 Speaker 1: and the way we handle money, and maybe this is 508 00:22:22,920 --> 00:22:24,960 Speaker 1: the start, you know, of that shift. Maybe this is 509 00:22:25,000 --> 00:22:27,720 Speaker 1: the start of maybe more folks out there donning their 510 00:22:27,720 --> 00:22:31,520 Speaker 1: cracked iPhones and delaying a new electronics purchase. But it 511 00:22:31,600 --> 00:22:33,800 Speaker 1: is encouraging to see that people are paying off debt 512 00:22:33,840 --> 00:22:36,919 Speaker 1: and also saving and investing more right now. I hope 513 00:22:36,920 --> 00:22:38,200 Speaker 1: you're right too. I hope this is a wake up 514 00:22:38,200 --> 00:22:40,879 Speaker 1: call for all of America. But I know at least 515 00:22:41,119 --> 00:22:43,800 Speaker 1: that our listeners are are taking these things into consideration 516 00:22:44,040 --> 00:22:46,240 Speaker 1: and they're making changes, because we hear about it every 517 00:22:46,320 --> 00:22:49,600 Speaker 1: day in our Facebook group in particular, So that's super encouraging. 518 00:22:49,920 --> 00:22:51,840 Speaker 1: But Joel Man that's gonna be it for this episode, dude. 519 00:22:51,960 --> 00:22:54,320 Speaker 1: Our listeners can find our show notes up on our 520 00:22:54,359 --> 00:22:57,440 Speaker 1: website at how to money dot com. Yeah, and if 521 00:22:57,480 --> 00:23:00,200 Speaker 1: you need support in your money journey and maybe feel 522 00:23:00,200 --> 00:23:02,200 Speaker 1: alone right now, we'll check out our Facebook group that 523 00:23:02,240 --> 00:23:04,160 Speaker 1: I just mentioned. If you go to Facebook dot com, 524 00:23:04,359 --> 00:23:06,480 Speaker 1: just search out of money and you'll find that group 525 00:23:06,800 --> 00:23:09,960 Speaker 1: with thousands and thousands of other people pursuing the same 526 00:23:10,000 --> 00:23:12,800 Speaker 1: thing you are, paying off debt, becoming more financially independent. 527 00:23:12,800 --> 00:23:15,280 Speaker 1: It's just an awesome place to post your money questions 528 00:23:15,359 --> 00:23:18,040 Speaker 1: or or gain some encouragement during these times. That's right, 529 00:23:18,040 --> 00:23:21,000 Speaker 1: all right, buddy. Until next time, Best friends Out, Best 530 00:23:21,040 --> 00:23:21,560 Speaker 1: Friends Out.