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Speaker 1: Welcome to a Haad of Money. I'm Joel and I

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Speaker 1: am Matt, and today we're discussing the science of smarter spending.

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Speaker 2: You know what, buddy, this episode is going to be

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Speaker 2: all about maximizing your satisfaction from the dollars that you

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Speaker 2: get to spend every single day. But should we just

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Speaker 2: cut to the chase and tell folks to that they

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Speaker 2: shouldn't be spending money, they should only be investing their money.

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Speaker 2: Spend their money on ETFs that's slightly diversified, diversified low

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Speaker 2: cost index funds.

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Speaker 1: Well, we know, we've always said this, there are a

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Speaker 1: lot of people in the space who kind of lean

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Speaker 1: towards that advice. It's kind of like, yeah, you want

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Speaker 1: to buy something you enjoy, that's dumb. You shouldn't be

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Speaker 1: investing for your future instead. And that's just a poor

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Speaker 1: way to treat people. One, it's not going to be

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Speaker 1: long lasting.

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Speaker 2: You're gonna burn out because there are i would say

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Speaker 2: an infantismally small number of folks who could actually stick

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Speaker 2: to that kind of plan.

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Speaker 1: It's unhelpful and the reality is it's not fun either.

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Speaker 1: We want to we're not robots. We want to find

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Speaker 1: that balance, right, where we are, Like we talk about

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Speaker 1: all the time saving and investing for the future, while

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Speaker 1: like living life to the fullest now, and that doesn't

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Speaker 1: always mean spending a lot of money, like I think

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Speaker 1: sometimes that's the other side of the equation, right, is like, Oh,

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Speaker 1: to live life to the fullest means I got to

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Speaker 1: spend a lot of money. No, not true. You don't

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Speaker 1: have to to have a great life. So we're gonna

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Speaker 1: kind of try to strike that balance talk about but

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Speaker 1: it does mean spending your money in smarter ways, not

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Speaker 1: necessarily more, but just being smart about it exactly. So

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Speaker 1: we're gonna even kind of include some science in this

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Speaker 1: episode as we discuss how to spend more intelligently. But

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Speaker 1: before we get to that, Matt I wanted to mention

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Speaker 1: my girls. This past weekend. They ended up playing in

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Speaker 1: their like the best they've ever played, like five hours together.

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Speaker 1: All they wanted to do was play in the room

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Speaker 1: all day.

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Speaker 2: It was great. It was great.

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Speaker 1: So me and the little dude were just kind of

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Speaker 1: paling around in the house and but like the crazy

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Speaker 1: thing is, we had like some extra packaging laying around

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Speaker 1: the house, and so they kind of built their own

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Speaker 1: Barbie house out of this packaging classic.

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Speaker 2: Yeah, which is so cool. They're playing with the box,

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Speaker 2: proud of the toys themselves.

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Speaker 1: The interesting thing though, is that my oldest daughter already

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Speaker 1: had she has like an actual Barbie playhouse that we

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Speaker 1: got like secondhand from one of these, like one of

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Speaker 1: these resale shops, and she just she hasn't played with

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Speaker 1: it a ton, which is which is fun, which is interesting.

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Speaker 1: But for some reason, they were enthralled with this like box,

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Speaker 1: this Barbie house up their own making.

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Speaker 2: Yeah. So and they get to they get to decide

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Speaker 2: where the rooms are and no, no, no, that's a bedroom.

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Speaker 1: That's a bathroom. It just makes me think a couple

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Speaker 1: of things. One that I don't know, maybe that was

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Speaker 1: a wasted buy the Barbie house back in the day,

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Speaker 1: even getting it used on a selling squad.

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Speaker 2: Yeah, you never know, maybe we should have opted for

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Speaker 2: the cardboard box. Right. We just never know which toys

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Speaker 2: your kids are gonna end up playing with. But it's

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Speaker 2: funny though, like like how there are certain items that

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Speaker 2: they look really cool, but oftentimes they don't necessarily lead

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Speaker 2: to creativity, Like they don't lead to kids in particular

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Speaker 2: being innovative and just creating something for themselves.

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Speaker 1: Yeah, it makes me wonder too if I should talk

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Speaker 1: to my daughter about, Hey, if you want to sell

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Speaker 1: this and then put money towards something you're actually gonna

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Speaker 1: use more boxes. We can get more of those for free, probably,

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Speaker 1: but yeah, towards something else Like those are the kind

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Speaker 1: of decisions I'm thinking about with my kids to help

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Speaker 1: teach them a value of a dollar. It's like, hey,

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Speaker 1: you don't have to get rid of your stuff, but

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Speaker 1: if it turns out there's some toys you're just not using,

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Speaker 1: maybe decluttering a little bit, but also kind of finding

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Speaker 1: a way to see if they're gonna want to sell

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Speaker 1: some of their stuff. It just kind of sparked that

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Speaker 1: idea in my head. Maybe we need to make that

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Speaker 1: a reality this spring. When people like doing spring cleaning,

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Speaker 1: maybe we do some of ourselves.

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Speaker 2: Yeah, man, that's right. Spring cleaning is just around the bend.

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Speaker 2: It'll be here before we know that. All right, let's

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Speaker 2: introduce our beer that we are going to enjoy during

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Speaker 2: this episode. This one is called Song of Winter. This

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Speaker 2: is another beer by hell Farmstead Brewery, sent to us

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Speaker 2: by Michael and Emily. Thank you to you both for donating.

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Speaker 2: This is the last of the four beers that they

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Speaker 2: sent out away. But I'm looking forward to enjoying this

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Speaker 2: one and sharing our thoughts at the end of the episode,

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Speaker 2: for sure.

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Speaker 1: But let's get onto the subject at hand. We're talking

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Speaker 1: about the science of smarter spending today on the show,

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Speaker 1: and this made me think of board games. A lot

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Speaker 1: of things made me think of board games because I

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Speaker 1: just really like board games because they are the best.

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Speaker 2: Yeah, you do too. But was that the second ever

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Speaker 2: episode we did or the third or something. It was

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Speaker 2: early on, I don't know, it's like one of the

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Speaker 2: earliest episodes. We were like, all right, let's break down

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Speaker 2: all the different connections between board games and personal fund Yeah.

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Speaker 1: Well, and it's just one of those inexpensive hobbies that

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Speaker 1: you can has a lot of replayability. Right, So even

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Speaker 1: if you drop thirty or forty bucks fifty bucks on

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Speaker 1: an awesome game, the reality is you can get a

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Speaker 1: ton of plays out of that game, which means your

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Speaker 1: dollar it just feels like it's going a lot further, right,

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Speaker 1: And part of what makes them fun, you know, besides

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Speaker 1: getting to play them with friends and family, is the

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Speaker 1: competition for scarce resources. Right, That's like an elemental part

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Speaker 1: of most of the great board games out there, and

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Speaker 1: it takes a few times around the board to get

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Speaker 1: the resources that you need to let's say, in The

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Speaker 1: Settlers of Catan, which is one of the biggest, you know,

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Speaker 1: or at least the longest standing great board games, it's.

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Speaker 2: Like the it's the gateway drug of board games for sure.

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Speaker 2: Like I feel like it's oftentimes the first one by

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Speaker 2: one of those first German classics. Oh yeah, we used

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Speaker 2: to always call that one Settlers, by the way, but

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Speaker 2: now I don't even think they put Settlers on the box.

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Speaker 1: On the newer versions, it just says Katan. Well, it's

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Speaker 1: easier to it's five letters, but settlers stands out Katon.

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Speaker 2: What is that?

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Speaker 1: Kittan is definitely the most recognizable of those words. I

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Speaker 1: like saying settling. But when you're going around the board,

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Speaker 1: you're trying to make settlements cities, trying to get development

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Speaker 1: cards that help you rack up victory points in this game, right,

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Speaker 1: and you just don't get them all immediately, and you're

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Speaker 1: trading back and forth. And you know, Matt, you and

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Speaker 1: I we used to play that game back in the day,

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Speaker 1: but we recently revisited it with our wives we played

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Speaker 1: on a recent trip. We had a blast. But like

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Speaker 1: the game is all about trade offs, where are you

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Speaker 1: going to build the road? If you have the resources

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Speaker 1: to do it? Should you scrap your road building all

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Speaker 1: together right in favor of another plan? You just can't

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Speaker 1: do it all and you can't get everything you want

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Speaker 1: all at once, And if you could, that would make

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Speaker 1: the game real quick, but also probably really boring.

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Speaker 2: It would be a lot of fun if it was

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Speaker 2: just shooting fish in the barrel.

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Speaker 1: And that's kind of the way life is in a

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Speaker 1: lot of ways, right, Like our money lives are kind

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Speaker 1: of like a game of Catan, as individuals were always

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Speaker 1: making trade offs. Should I take that vacation or should

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Speaker 1: I contribute to my roth Ira. Should I get those

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Speaker 1: new shoes or should I go out and have a

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Speaker 1: nice dinner. How do we decide these things? These questions

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Speaker 1: that we come across almost every day. That's kind of

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Speaker 1: what today's episode is all about.

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Speaker 2: That's right. And by the way, I'm not going to

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Speaker 2: rub it in, but I'm pretty sure I was the

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Speaker 2: winner of that round of so severe losing streak lately,

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Speaker 2: and I'm not okay with it. I will say it

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Speaker 2: took me a few minutes until after I won. But

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Speaker 2: we used to do this thing that whoever won the game,

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Speaker 2: that all the other players had to say, all hail

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Speaker 2: Lord of Katan. It's just another way of just making

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Speaker 2: all of your friends hate you even more after you've

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Speaker 2: whipped out those three final victory points. It's definitely salting

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Speaker 2: the wound. It is. So you're talking about the resources

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Speaker 2: that we get in as we're playing a game of settlers,

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Speaker 2: but our resources, the amount of money that we have

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Speaker 2: on hand, is obviously limited as well, and so we

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Speaker 2: are all constantly making these decisions about how it is

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Speaker 2: that we should allocate our dollars so that we can

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Speaker 2: maximize our satisfaction while still making the money moves that

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Speaker 2: a fully grown adult really needs to be doing, you know,

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Speaker 2: given the future things that we're saving up for as well.

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Speaker 2: But aside from saving towards retirement, we often find ourselves

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Speaker 2: stuck in a similar situation when it comes to the

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Speaker 2: stuff that we want to buy. Right we are we're

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Speaker 2: torn between the decision of spending some big money on

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Speaker 2: an item that we know is going to last, versus

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Speaker 2: maybe an inferior item it's going to get the job done.

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Speaker 2: At least for a little bit before it breaks, right,

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Speaker 2: And so how should we approach some of these different

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Speaker 2: spending decisions, because concessions are necessary, just like can contain,

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Speaker 2: and we can't do it all at once. And that's

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Speaker 2: what we're going to talk about today.

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Speaker 1: Yeah, that's like the preeminent reality in macro and microeconomics

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Speaker 1: is scarcely in trade offs, right, And so a main

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Speaker 1: problem we bump up against, right as we try to

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Speaker 1: become more intentional in our spending is planned obsolescence. And

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Speaker 1: oh yeah, this is summed up with the phrase they

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Speaker 1: don't make them like they used to. If you've heard

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Speaker 1: someone over the age of fifty say that, I don't

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Speaker 1: think anyone over the age of fifty hasn't said that phrase, right,

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Speaker 1: that's just kind of true. It's part of getting older,

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Speaker 1: he starts to say those things. I think I found

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Speaker 1: myself saying stuff like that more and more as I'm like,

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Speaker 1: you know, not over the hill yet, like you, Matt,

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Speaker 1: but I'm getting closer now that I'm forty. I say

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Speaker 1: it once a week, understandable, as you should. And like

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Speaker 1: we all tend to point our fingers at a lot

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Speaker 1: of items that do this, right, there's fast fashion, there's

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Speaker 1: home appliances, electronics all come to mind. Textbooks are one

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Speaker 1: of those textbook examples of something that is made to

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Speaker 1: be obsolete pretty quickly. There's a new addition every couple

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Speaker 1: of years, and so the one you bought, if you

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Speaker 1: bought it too early, well it doesn't work for the class,

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Speaker 1: and then maybe you can't actually sell it for anything.

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Speaker 1: It's worthless by the time you're done with that class too.

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Speaker 1: But we've all experienced it right where the newer model

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Speaker 1: is lacking because it's not made with the same standards,

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Speaker 1: the same rigger and oftentimes we don't even have the

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Speaker 1: choice to offer the product that's going to last the

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Speaker 1: longest and bring us the most satisfaction because companies and

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Speaker 1: manufacturers aren't delivering quality goods. It's again, it's baked into

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Speaker 1: the business model of the company for their item to

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Speaker 1: fail after a certain number of years, or to stop

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Speaker 1: updating the software so that you can't actually use it

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Speaker 1: the way you wanted to. After a certain period of time,

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Speaker 1: you'll be back at their doorstep making another purchase. That's

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Speaker 1: the way they like it.

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Speaker 2: That's right. Yeah, So let's give an example here. Should

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Speaker 2: you buy a Yeti cooler. I don't even know how

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Speaker 2: much these scenes cost, but I'm pretty sure they're in

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Speaker 2: the hundreds of dollars.

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Speaker 1: I kind of think like two fifty for a decent

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Speaker 1: Yeti cooler, which is crazy, so you can even do

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Speaker 1: that way. Did you see that the new story that

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Speaker 1: Yeti coolers were washing up on the shores of Alaska?

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Speaker 1: How cool is that? Like enterprising young folks were like

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Speaker 1: just sitting there with their trucks ready and waiting to pounds.

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Speaker 2: I have a hard time believing that actually wasn't like

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Speaker 2: a publicity campaign it was. Yeah, whether it is like

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Speaker 2: our cooler are so bad a that they're gonna be

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Speaker 2: like floating out at sea, and they're still gonna be solid,

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Speaker 2: They're still gonna have the ability to keep your beverage cold.

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Speaker 2: But you don't have to go to the yetti route, right

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Speaker 2: because instead you could go to the gas station. You

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Speaker 2: could drop five bucks and get yourself a decent styrofoam cooler.

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Speaker 2: But so first of all, the dichotomy, it doesn't have

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Speaker 2: to be that extreme, right, Like I've got a twenty

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Speaker 2: five dollars backpack cooler from Costco. It does what I

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Speaker 2: needed to do, keeps all the beverages cool in there

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Speaker 2: while we go out to the beach. That's the most

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Speaker 2: important thing the cooler does. Although right it's it's unlikely

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Speaker 2: to the last for decades, like a yetti product claims,

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Speaker 2: But I think that's that's totally fine with me. But

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Speaker 2: the thing is, the variety of options that we have

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Speaker 2: open to us allows for like a like a different

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Speaker 2: strokes for different folks kind of approach, so we can

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Speaker 2: each opt to purchase what we want to suit our

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Speaker 2: specific needs. And so before you click by, it's just

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Speaker 2: wise to think through how long you're gonna want a

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Speaker 2: product and what it is that you plan to use

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Speaker 2: it for. That'll help you to answer the question if

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Speaker 2: whether or not you really need a two hundred dollars

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Speaker 2: cooler if you're just itching to you know, have that

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Speaker 2: name brand to show off next time you go to

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Speaker 2: go to the lake or something like that. Do you

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Speaker 2: plan to use this cooler more than once? Or are

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Speaker 2: you planning to put fish bait in it and it's

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Speaker 2: going to make it really stinky and it's gonna be

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Speaker 2: something that you end up possing right away.

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Speaker 1: Oh, I don't want to do that with your YETI

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Speaker 1: cooler exactly, But if you do want to keep it

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Speaker 1: forever because you're you're thinking, I'm gonna always want.

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Speaker 2: My beers to be cold, I don't know, maybe spending

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Speaker 2: more on the more expensive cooler is the way to go.

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Speaker 2: Bottom line, we are all making trade offs. We just

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Speaker 2: want you to know the ones that you are making

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Speaker 2: before you make it purchase. That way, you are making

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Speaker 2: a smart spending decision.

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Speaker 1: Yeah, what am I going to use this for is

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Speaker 1: a great question to ask because it will help inform

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Speaker 1: the choice you make, Whereas you might just be susceptible

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Speaker 1: for the name brand or the cool new look when

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Speaker 1: you know what you're not actually going to use it

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Speaker 1: in the way that it was intended, And the price

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Speaker 1: point just doesn't make sense for what you plan to

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Speaker 1: use it for. Absolutely, and I think planned ops lescence, Matt.

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Speaker 1: That can also be just like really frustrating as a

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Speaker 1: consumer as well. Oh yeah, nobody likes to be in

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Speaker 1: the middle of a proper and have a tool break.

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Speaker 1: That's that's never fun. Nobody likes being on vacation and

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Speaker 1: having their beach share folded on them. I feel like

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Speaker 1: you have made really cheap beach share decisions in the past.

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Speaker 2: Hey, I still have those that orange and yellow chair

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Speaker 2: that I got from Public's. They still hold up, okay,

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Speaker 2: all right, so right, sorry mister Toddy Mohamma, Well I

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Speaker 2: got midy Costco, and of course you know I can

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Speaker 2: return them any time if they suck.

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Speaker 1: But they're also they're built to last for a lot longer,

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Speaker 1: and they weren't that much more money, So I was

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Speaker 1: totally okay with that purchase. But it's I think it's

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Speaker 1: important not to forget to calculate the annoyance factor of

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Speaker 1: feeling like your cheap crap is breaking on the rag

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Speaker 1: into your purchasing decisions, because you know the fact that

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Speaker 1: the cheap item just isn't getting the job done as

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Speaker 1: well as it could be. That matters, right, And so

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Speaker 1: keep in mind that not only are you wasting your

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Speaker 1: own money if by buying something that's going to break

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Speaker 1: down on you rather quickly, that's not going to last

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Speaker 1: as long as you'd like it to, but you're also

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Speaker 1: adding one more chotchkey to the mountains of trash that

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Speaker 1: we all contribute to. So yeah, thinking about out those

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Speaker 1: decisions how long you need this item to last is

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Speaker 1: important too. Before you make a purchase.

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Speaker 2: It's true. Yeah, there's an environmental impact as well. But

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Speaker 2: you know, even though we really disliked the concept of

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Speaker 2: planned obsolescence, especially you mentioned like computers or phones that

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Speaker 2: are no longer capable of updating, Like who decides that?

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Speaker 2: The company decides that, and they're just going to decide that, Okay,

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Speaker 2: you now have to buy a new device right from us.

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Speaker 1: My parents they finally just upgraded from the iPhone seven

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Speaker 1: to like to the newest model.

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Speaker 2: Or was it because they were no longer receiving software updates? No,

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Speaker 2: I don't think so.

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Speaker 1: I think they like they were just like, okay, these

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Speaker 1: things are getting long in the two but it's one

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Speaker 1: of the way I feel like iPhone supports their stuff

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Speaker 1: longer than Android does. And I was actually disappointed. I

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Speaker 1: think we talked about it on the show when some

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Speaker 1: of the pixel phones, after like three years, they stopped

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Speaker 1: perceiving updates, and that just feels where Seven's came out,

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Speaker 1: what like five years ago. Yeah, and I think those

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Speaker 1: pixel phones, like they could still work for a lot

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Speaker 1: of people, but Google just doesn't want them to work

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Speaker 1: for you anymore.

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Speaker 2: Exactly.

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Speaker 1: The evil conglomerate and I still have a pixel saying

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Speaker 1: that it's a Pixel owner myself. But bottom line, like

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Speaker 1: we're kind of dragging planted ops lessons through the mudd

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Speaker 1: a little bit, right. But even with that being said,

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Speaker 1: I think there's a silver lining to planned ops lescens

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Speaker 1: that that I think is important to point out, and

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Speaker 1: that's the fact that it allows for there to be

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Speaker 1: more affordable goods available to more people who otherwise wouldn't

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Speaker 1: have the opportunity to make that purchase. Right, So, not

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Speaker 1: everyone can afford the nicest or even like the middle

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Speaker 1: of the road option. So going back to the cooler example,

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Speaker 1: like sometimes the most affordable five dollars option is going

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Speaker 1: to be all that someone can.

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Speaker 2: Actually swing well.

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Speaker 1: And going back to the smartphone example, the pixel phones

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Speaker 1: can be in the two hundred and something dollar range

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Speaker 1: when the newest iPhones are like twice as much a

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Speaker 1: thousand dollars or more oftentimes, so exactly, yeah, it's a

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Speaker 1: big discrepancy, and so yeah they're not gonna last as long,

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Speaker 1: but man, they.

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Speaker 2: Costs a lot more a lot less money. Yeah. I

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Speaker 2: think the most important thing here though, is that there

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Speaker 2: are options for folks, and I think a lot of

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Speaker 2: times this is when folks might want to demonize capitalism

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Speaker 2: to us an extent, they're like, oh, of course they're

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Speaker 2: just out for profits and they're you know, they're going

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Speaker 2: to break my phone. Whatever it is that folks we're

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Speaker 2: saying out there. But fact is, if that means that

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Speaker 2: there is somebody who has access to a supercomputer basically

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Speaker 2: in their pocket and they're trying to climb the ranks

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Speaker 2: of society, and for a lot of folks that means

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Speaker 2: being able to be in touch with an employer if

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Speaker 2: if they're trying to reach out or fill a shift

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Speaker 2: something like that. I think there are a lot of

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Speaker 2: advantages for something like a more affordable phone as opposed

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Speaker 2: to dropping a thousand bucks on not even the newest iPhone,

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Speaker 2: but maybe one that's been released fairly recently. Yeah.

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Speaker 1: Well, so when we're talking about spending smarter, I guess

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Speaker 1: one of the things we want to avoid, and it's

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Speaker 1: not completely avoidable, is some of the retailer tricks that

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Speaker 1: make some of their items obsolete much quicker. So we

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Speaker 1: want to be thoughtful in our purchases, but you know,

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Speaker 1: sometimes it is that the products themselves are the problem,

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Speaker 1: and you know it's up to us to determine which

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Speaker 1: product is going to get the job done before we

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Speaker 1: actually make that transaction.

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Speaker 2: Going to be savvy consumers.

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Speaker 1: Yeah, but other times we are the problem. And so

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Speaker 1: after the break, we're going to talk about how to

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Speaker 1: make a mental shift for how we spend and how

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Speaker 1: we think about spending so we can make smarter decisions

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Speaker 1: moving forward buying the stuff that's actually going to move

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Speaker 1: the needle on the happiness front for us. We'll discuss

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Speaker 1: right after this.

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Speaker 2: All right, we are still talking through the science of

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Speaker 2: smarter spending, and Joel before we before we dive into

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Speaker 2: some of these adjustments that we can make to our

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Speaker 2: mindset in order to internally adjust how we can approach

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Speaker 2: spending more intelligently. Let's dwell for a little bit longer

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Speaker 2: on how products are made. I think because of the

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Speaker 2: planned obsolescence culture that we live in, oftentimes we're primed

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Speaker 2: to think that all of our purchases are disposable in

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Speaker 2: some form of fashion, right. But I think this is

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Speaker 2: often like just a self fulfilling prophecy, causing us to

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Speaker 2: in fact engage and throw away consumer behavior.

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Speaker 1: So what you're saying is it's not always the item,

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Speaker 1: it's not always the manufacturer. Oftentimes it's our mindset because

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Speaker 1: we feel like everything around us is tossable trash to

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Speaker 1: a certain extent, that we just kind of participate in

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Speaker 1: that economy.

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Speaker 2: Sure, sure, I mean, and I do think some of

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Speaker 2: the responsibility, like definitely lies with us, because I think,

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Speaker 2: on one hand, somebody might blame companies because they're saying, well,

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Speaker 2: everything is just cheap, and everything is meant to be

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Speaker 2: thrown away, everything is disposable, and they make it harder

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Speaker 2: to fix sometimes. Right. Therefore, everything I buy, I throw

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Speaker 2: away when it's looking a little long in the tooth,

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Speaker 2: when it's looking a little ragged. Right. But yeah, Simultaneously,

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Speaker 2: it also comes down to us as individuals. It comes

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Speaker 2: down to how we think about things. I think we

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Speaker 2: have the ability to fight back and instead opt to

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Speaker 2: buy items that are just made better or that have

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Speaker 2: better warranties. Because if a company stands behind its product

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Speaker 2: to the tune of a stellar return policy, I think

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Speaker 2: we should be more willing to purchase from that company,

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Speaker 2: even if it ends up costing us more. I think

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Speaker 2: we can expect to pay little bit more because what

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Speaker 2: you're paying for is an item. You're paying a little

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Speaker 2: bit more for an item that should be a whole

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Speaker 2: lot better. Yeah, but again, I do think as consumers

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Speaker 2: we've just to a certain extent, I think we've gotten

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Speaker 2: lazier and instead of maintaining items and cleaning items and

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Speaker 2: changing the oil in our items, like there are all

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Speaker 2: sorts of ways that we should, I think, be more

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Speaker 2: prone to taking care of the things that we have.

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Speaker 2: But I think some of this comes down to us

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Speaker 2: and we just want things to be easy. We're lazy,

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Speaker 2: and oftentimes we would rather just buy a new, cheap

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Speaker 2: thing that's shiny and fresh, that's got that fresh out

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Speaker 2: of the plastic new smell, sure, rather than figuring out

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Speaker 2: how to change the batteries and something that makes me

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Speaker 2: think of the buy it for life movement, which I

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Speaker 2: think is cool to see. I think it's kind of

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Speaker 2: like gaining some steam. More and more people are saying,

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Speaker 2: I'm going to try to buy stuff that's actually going

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Speaker 2: to stand the test of time. It's not like this

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Speaker 2: massive movement. I'm sure it's just a few sporadic people

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Speaker 2: right around the country.

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Speaker 1: But that is something that I can get behind because

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Speaker 1: it's consumer reacting to the planned opso lessons trend and

435
00:19:03,600 --> 00:19:05,920
Speaker 1: they are choosing to buy items that are are made

436
00:19:06,000 --> 00:19:07,480
Speaker 1: to stand the test of time, that are made to

437
00:19:07,520 --> 00:19:10,000
Speaker 1: last a whole lot longer, and they're backing companies who

438
00:19:10,000 --> 00:19:11,760
Speaker 1: are making these items. And so we were just like

439
00:19:11,840 --> 00:19:14,240
Speaker 1: kind of racking on the price of a YETI a

440
00:19:14,240 --> 00:19:17,080
Speaker 1: little bit like they're they're not cheap coolers, right, And

441
00:19:17,280 --> 00:19:19,520
Speaker 1: I think a large part of the interest in Yetti's

442
00:19:19,920 --> 00:19:22,919
Speaker 1: is kind of a name brand fascination, which I'm not

443
00:19:23,000 --> 00:19:23,560
Speaker 1: on board with.

444
00:19:23,680 --> 00:19:26,159
Speaker 2: But I will say it's a dope looking logo. It

445
00:19:26,240 --> 00:19:29,480
Speaker 2: looks cool, is it? Is it Austin FC, the soccer

446
00:19:30,119 --> 00:19:32,800
Speaker 2: sponsored by YEI? Yeah, they got the YETI. It looked great.

447
00:19:32,880 --> 00:19:35,520
Speaker 2: Yehie written across those four letters across the front of

448
00:19:35,520 --> 00:19:37,880
Speaker 2: their jerseys looks pretty nice. It looks great. It does

449
00:19:37,920 --> 00:19:39,439
Speaker 2: look great. And this is coming from somebody who does

450
00:19:39,480 --> 00:19:41,199
Speaker 2: not own a Yetti Man. They are getting so much

451
00:19:41,200 --> 00:19:43,560
Speaker 2: airtimes I feel like we should just completely switch to

452
00:19:43,640 --> 00:19:47,320
Speaker 2: like Microsoft might be good, but let's keep going on

453
00:19:47,359 --> 00:19:48,959
Speaker 2: this on this for a second, because they are one

454
00:19:48,960 --> 00:19:51,040
Speaker 2: of the companies that do make a great product that

455
00:19:51,119 --> 00:19:53,800
Speaker 2: will last for decades to come. And so we're not

456
00:19:53,880 --> 00:19:56,160
Speaker 2: saying that everyone should go out there and buy one, Matt,

457
00:19:56,240 --> 00:19:58,040
Speaker 2: you don't know one. I don't know one. I don't

458
00:19:58,080 --> 00:20:00,080
Speaker 2: plan on own anyone. Gosh, Okay, so I did. I

459
00:20:00,080 --> 00:20:01,760
Speaker 2: really didn't know how much they cost. I'm looking at

460
00:20:01,760 --> 00:20:03,439
Speaker 2: some that are like two hundred and sixty here's one

461
00:20:03,480 --> 00:20:04,760
Speaker 2: for four hundred and fifty bucks.

462
00:20:04,800 --> 00:20:07,280
Speaker 1: Wow, for like the Big Boy. Yeah, so that's a

463
00:20:07,280 --> 00:20:09,200
Speaker 1: lot of money, not cheap. And but again, some people

464
00:20:09,240 --> 00:20:11,359
Speaker 1: it might be worth it. They might get enough value

465
00:20:11,359 --> 00:20:13,919
Speaker 1: from it. Other people might just be buying into the hype.

466
00:20:14,000 --> 00:20:16,720
Speaker 1: They don't need it, and they don't need the most

467
00:20:16,920 --> 00:20:19,440
Speaker 1: invincible cool or known to man or whatever yet he's making.

468
00:20:19,480 --> 00:20:21,919
Speaker 1: But it's helpful to know which brands are flipping the

469
00:20:21,960 --> 00:20:24,480
Speaker 1: script on our disposable culture. And I think when we

470
00:20:24,560 --> 00:20:27,560
Speaker 1: highlight those brands, and when we highlight the retailers that

471
00:20:27,640 --> 00:20:31,280
Speaker 1: are kind of promoting long term ownership and they're promoting

472
00:20:31,359 --> 00:20:33,719
Speaker 1: selling goods that are of higher quality, that's the kind

473
00:20:33,760 --> 00:20:35,280
Speaker 1: of thing that we should all be getting behind.

474
00:20:35,480 --> 00:20:37,320
Speaker 2: Yeah, and aside from the fact that they last longer,

475
00:20:37,359 --> 00:20:39,520
Speaker 2: I think it's okay to buy certain items that we

476
00:20:40,359 --> 00:20:42,320
Speaker 2: that mean a little bit more to us as individuals,

477
00:20:42,359 --> 00:20:45,120
Speaker 2: just to appreciate the craftsmanship of an item right, because

478
00:20:45,160 --> 00:20:47,280
Speaker 2: not only will it lasts longer, not only does that

479
00:20:47,320 --> 00:20:49,800
Speaker 2: mean that we will spend less in that category of expense,

480
00:20:49,880 --> 00:20:51,920
Speaker 2: hopefully for the rest of our lives. But I think

481
00:20:51,920 --> 00:20:54,240
Speaker 2: there's something to be said to appreciating like the artistry

482
00:20:54,320 --> 00:20:57,760
Speaker 2: or appreciating the craftsmanship that goes into a quality item

483
00:20:58,000 --> 00:21:00,879
Speaker 2: and the job that oftentimes they're able to do in

484
00:21:00,960 --> 00:21:04,159
Speaker 2: a much superior way. I guess too their inferior but

485
00:21:04,359 --> 00:21:06,960
Speaker 2: more affordable counterparts that are out there. But we did

486
00:21:07,040 --> 00:21:10,359
Speaker 2: want to highlight a few specific brands, and you know,

487
00:21:10,400 --> 00:21:12,959
Speaker 2: just trying to light on companies that are prioritizing making

488
00:21:13,320 --> 00:21:17,239
Speaker 2: solid products, and again they almost always cost more than

489
00:21:17,280 --> 00:21:19,400
Speaker 2: the cheapest version that you could pick up at Walmart

490
00:21:19,560 --> 00:21:22,200
Speaker 2: or at like Dollar General. But it's at least worth

491
00:21:22,240 --> 00:21:24,120
Speaker 2: mentioning several brands that we think do a good job

492
00:21:24,160 --> 00:21:27,440
Speaker 2: in this realm. And so from personal example, Darn Tough

493
00:21:27,520 --> 00:21:30,399
Speaker 2: Socks are amazing. They've got these lifetime I've got like

494
00:21:30,440 --> 00:21:33,000
Speaker 2: two pairs of Darn Tough socks, but I can't wait

495
00:21:33,200 --> 00:21:35,800
Speaker 2: to continue wearing these bad boys and then one day

496
00:21:35,840 --> 00:21:37,600
Speaker 2: when there's a hole in it or something happens to

497
00:21:37,640 --> 00:21:39,199
Speaker 2: them to be able to send them back. I think

498
00:21:39,280 --> 00:21:41,600
Speaker 2: even the company replaced them a decade later. You're like, hey,

499
00:21:41,640 --> 00:21:44,200
Speaker 2: I've had these for a long time. They're like lifetime warranty,

500
00:21:44,200 --> 00:21:47,080
Speaker 2: no worries. Pair Aldi, they've got the twice as nice

501
00:21:47,080 --> 00:21:50,960
Speaker 2: guarantee ll Bean. They've actually modified there they used to

502
00:21:50,960 --> 00:21:53,480
Speaker 2: have like that lifetime warring. They're still great, but they're

503
00:21:53,480 --> 00:21:54,760
Speaker 2: not as good as they used to be, the same

504
00:21:54,760 --> 00:21:57,160
Speaker 2: with Costco. They've got great, but they had to dial

505
00:21:57,200 --> 00:22:00,840
Speaker 2: it back because of some you know, customers taking advantage

506
00:22:00,960 --> 00:22:04,760
Speaker 2: of their extremely generous return policy. But so like electronics

507
00:22:04,800 --> 00:22:07,960
Speaker 2: only have I think like ninety days, but most other purchases,

508
00:22:08,000 --> 00:22:09,879
Speaker 2: a lot of other purchases, you still have the ability

509
00:22:09,880 --> 00:22:15,119
Speaker 2: to return them for life. Yeah, Zappos, de Walt, Craftsman, Philson, Patagonia.

510
00:22:15,160 --> 00:22:16,840
Speaker 2: These are all a bunch of different companies out there

511
00:22:16,840 --> 00:22:19,080
Speaker 2: who do a really good job standing behind their products.

512
00:22:19,960 --> 00:22:23,760
Speaker 2: Interestingly enough, even though Ikea it definitely doesn't make the

513
00:22:23,800 --> 00:22:26,679
Speaker 2: cut from like an heirloom furniture company or anything like that,

514
00:22:26,720 --> 00:22:29,679
Speaker 2: but they still have a one year return policy and

515
00:22:29,720 --> 00:22:32,480
Speaker 2: I think that's a nice happy medium. And that being said,

516
00:22:32,560 --> 00:22:35,000
Speaker 2: like we know that there are more companies out there

517
00:22:35,000 --> 00:22:37,199
Speaker 2: than just the few that we've mentioned, And so if

518
00:22:37,240 --> 00:22:40,639
Speaker 2: there's a company that you are a fan of or

519
00:22:40,680 --> 00:22:43,440
Speaker 2: that has just treated you really well, actually tun over

520
00:22:43,480 --> 00:22:45,600
Speaker 2: to the Facebook group over on Facebook how to Money.

521
00:22:45,640 --> 00:22:48,080
Speaker 2: Hop on there and share some of the different companies

522
00:22:48,359 --> 00:22:51,280
Speaker 2: who you have interacted with who have treated you well,

523
00:22:51,320 --> 00:22:54,520
Speaker 2: because honestly, those, if you have the ability to, those

524
00:22:54,560 --> 00:22:56,600
Speaker 2: are the kind of companies that we would love to

525
00:22:56,640 --> 00:22:58,359
Speaker 2: be able to support more. And we want to other.

526
00:22:58,240 --> 00:22:59,720
Speaker 1: Found them out because we have about them as well.

527
00:23:00,200 --> 00:23:01,720
Speaker 1: Not a few here, but we know there are more

528
00:23:01,760 --> 00:23:04,000
Speaker 1: if you know once that really stand behind their products,

529
00:23:04,000 --> 00:23:05,720
Speaker 1: that have a great return policy, and just have high

530
00:23:05,800 --> 00:23:08,400
Speaker 1: high levels of crafts and ship even if it costs more,

531
00:23:09,080 --> 00:23:12,080
Speaker 1: then I think that those are It's at least worth

532
00:23:12,160 --> 00:23:14,879
Speaker 1: letting people know so they can say, Okay, I normally

533
00:23:14,920 --> 00:23:17,280
Speaker 1: spend you know, twenty bucks on a belt. This place

534
00:23:17,320 --> 00:23:19,520
Speaker 1: makes belts that are one hundred dollars. I forget what

535
00:23:19,560 --> 00:23:21,159
Speaker 1: the is it Hank's belts or something like that.

536
00:23:21,200 --> 00:23:24,399
Speaker 2: Oh yeah, and I'm like within our researches, yeah, I

537
00:23:24,400 --> 00:23:27,400
Speaker 2: don't know that I care enough about belts. Yeah, yeah,

538
00:23:27,400 --> 00:23:29,240
Speaker 2: it's like, am I am I one hundred dollars belt guy?

539
00:23:29,320 --> 00:23:31,560
Speaker 2: Yet I don't know, but I don't think I am.

540
00:23:31,880 --> 00:23:34,040
Speaker 1: But you know, it's nice to know that they exist,

541
00:23:34,040 --> 00:23:35,760
Speaker 1: and it's nice to know that they're making something quality

542
00:23:35,760 --> 00:23:37,480
Speaker 1: that's going to last a long time. But here's the

543
00:23:37,520 --> 00:23:39,560
Speaker 1: other thing that the flip side of the coin math.

544
00:23:39,600 --> 00:23:43,920
Speaker 1: It's important to mention because cost does not necessarily equal quality,

545
00:23:44,200 --> 00:23:46,200
Speaker 1: and that is true. That makes it even tougher out

546
00:23:46,200 --> 00:23:49,960
Speaker 1: there as an individual consumer walking through this world. It's

547
00:23:50,080 --> 00:23:53,159
Speaker 1: not a direct correlation. And sometimes you're paying for a

548
00:23:53,240 --> 00:23:55,760
Speaker 1: name brand for a hot new look, not something that's

549
00:23:55,800 --> 00:23:58,480
Speaker 1: made better, and you can't just equate the price tag

550
00:23:58,520 --> 00:24:01,480
Speaker 1: to the quality that you're getting. Is a Balenciaga purse,

551
00:24:01,560 --> 00:24:03,920
Speaker 1: for instance, made better than other purses that cost a

552
00:24:03,960 --> 00:24:07,040
Speaker 1: whole lot less. I don't know, but I doubt it. Yeah,

553
00:24:07,080 --> 00:24:08,720
Speaker 1: there's just a lot. I think it's more the name,

554
00:24:08,880 --> 00:24:10,600
Speaker 1: and yeah, the scribbles that they stick on there and

555
00:24:10,640 --> 00:24:12,800
Speaker 1: the signaling that you're sending out to the world that hey,

556
00:24:13,119 --> 00:24:16,240
Speaker 1: I wear Balenciaga. But yeah, you just can't assume that

557
00:24:16,359 --> 00:24:18,400
Speaker 1: just because the price tag is high, that it's bound

558
00:24:18,440 --> 00:24:20,720
Speaker 1: to last forever, or that the company stands behind the

559
00:24:20,720 --> 00:24:23,200
Speaker 1: stuff that they make. And another important question to ask

560
00:24:23,480 --> 00:24:25,639
Speaker 1: is if I opt to pay more for this item,

561
00:24:26,320 --> 00:24:28,679
Speaker 1: not only will it last longer, but also will I

562
00:24:28,840 --> 00:24:30,960
Speaker 1: use it for a longer period of time, Because even

563
00:24:31,000 --> 00:24:32,880
Speaker 1: if it doesn't wear out on us, we might get

564
00:24:32,880 --> 00:24:35,280
Speaker 1: tired of that item. And I think that's particularly true

565
00:24:35,560 --> 00:24:39,000
Speaker 1: when we're talking about fashion related purchases. Matt like, when

566
00:24:39,000 --> 00:24:41,880
Speaker 1: you opt to spend more on higher quality goods, try

567
00:24:41,920 --> 00:24:43,680
Speaker 1: and get things that you're likely to want to use

568
00:24:43,720 --> 00:24:45,560
Speaker 1: for years to come, that are going to kind of

569
00:24:45,560 --> 00:24:47,600
Speaker 1: stand the test of time. I think about that with clothing.

570
00:24:47,880 --> 00:24:51,359
Speaker 1: I'm more willing to buy a more expensive article of

571
00:24:51,400 --> 00:24:54,080
Speaker 1: clothing if it's more neutral and it's something that I'm like, oh,

572
00:24:54,160 --> 00:24:55,520
Speaker 1: I'm going to wear that for a lot of years,

573
00:24:55,600 --> 00:24:58,000
Speaker 1: but it feels more like a staple and essential as

574
00:24:58,040 --> 00:25:01,359
Speaker 1: opposed to like something that's really flashy. Yes, exactly, chances

575
00:25:01,400 --> 00:25:03,000
Speaker 1: are you're not gonna like that flashy if I get

576
00:25:03,040 --> 00:25:03,560
Speaker 1: a couple.

577
00:25:03,560 --> 00:25:04,200
Speaker 2: A couple of years.

578
00:25:04,200 --> 00:25:05,760
Speaker 1: It's fun right now, but it's probably not something that

579
00:25:05,760 --> 00:25:07,399
Speaker 1: I'm gonna wear for years to come, exactly.

580
00:25:07,520 --> 00:25:10,840
Speaker 2: That's it's actually a pretty good argument for more expensive

581
00:25:10,840 --> 00:25:14,439
Speaker 2: belt because I'm like, I'm not hardly ever looking for

582
00:25:14,480 --> 00:25:17,359
Speaker 2: anything special or fancy or flashy out of my belt.

583
00:25:17,359 --> 00:25:19,440
Speaker 2: I wanted to fit through my belt loops, hold my

584
00:25:19,480 --> 00:25:21,040
Speaker 2: paints up. Yeah, what you're looking for out of a

585
00:25:21,080 --> 00:25:23,720
Speaker 2: belt doesn't really change much over years, at least from

586
00:25:23,720 --> 00:25:25,720
Speaker 2: basic dudes like us. Although that being said, literally, the

587
00:25:25,760 --> 00:25:27,840
Speaker 2: belt I have right now is a belt that I

588
00:25:27,880 --> 00:25:31,640
Speaker 2: purchased in college, and so this is I mean, we're

589
00:25:31,640 --> 00:25:34,159
Speaker 2: talking like decades ago, but this is the belt I

590
00:25:34,200 --> 00:25:36,560
Speaker 2: purchased from Abercrombie and Fitch. I don't know how they

591
00:25:36,600 --> 00:25:38,440
Speaker 2: did it, but this thing is still holding up, and

592
00:25:38,480 --> 00:25:41,320
Speaker 2: it's my favorite belt. You've always been an Abercromwie pitched guy,

593
00:25:41,480 --> 00:25:43,960
Speaker 2: so you used to actually be a model. You stand

594
00:25:44,000 --> 00:25:46,800
Speaker 2: up front, up front of the store with your shirt off. Yeah.

595
00:25:46,960 --> 00:25:48,679
Speaker 1: I still do sometimes, but I don't get paid for

596
00:25:48,720 --> 00:25:51,119
Speaker 1: it now. In fact, you get escorted out of them.

597
00:25:51,160 --> 00:25:55,320
Speaker 2: All come with us, okay, But then there are going

598
00:25:55,359 --> 00:25:58,119
Speaker 2: to be some instances where it doesn't make sense to

599
00:25:58,440 --> 00:26:00,320
Speaker 2: buy the thing at all. It doesn't make sen to

600
00:26:00,359 --> 00:26:02,119
Speaker 2: go the cheap route, doesn't make sense to go the

601
00:26:02,200 --> 00:26:05,199
Speaker 2: really expensive route because you're unlikely to ever need that

602
00:26:05,280 --> 00:26:09,440
Speaker 2: item again. And in those situations we should consider renting

603
00:26:09,800 --> 00:26:12,360
Speaker 2: or borrowing those items. Kate and I were talking through

604
00:26:12,359 --> 00:26:14,520
Speaker 2: maybe doing some some yard projects here in the spring,

605
00:26:14,880 --> 00:26:16,960
Speaker 2: and you know what would be foolish is if I

606
00:26:17,000 --> 00:26:19,960
Speaker 2: went out and bought a little mini bulldozer literally like

607
00:26:20,040 --> 00:26:22,040
Speaker 2: a little front end loader. Because we're talking about.

608
00:26:21,840 --> 00:26:23,479
Speaker 1: I don't know that sounds like fun, you should get one.

609
00:26:23,840 --> 00:26:26,760
Speaker 2: Well, I'm thinking about renting one, because this is likely

610
00:26:26,800 --> 00:26:28,720
Speaker 2: going to be an item that I used once or

611
00:26:28,920 --> 00:26:30,600
Speaker 2: you know, like I would use it the whole weekend.

612
00:26:30,800 --> 00:26:32,520
Speaker 2: But it would be incredibly foolish to go out and

613
00:26:32,520 --> 00:26:35,080
Speaker 2: buy one of those, to buy a massive tool like that.

614
00:26:35,480 --> 00:26:37,680
Speaker 2: But generally speaking, I don't think that this gets talked

615
00:26:37,680 --> 00:26:41,040
Speaker 2: about enoughing Obviously, renting a front end loader or something

616
00:26:41,080 --> 00:26:44,359
Speaker 2: like that as a fairly extreme example, but for instance,

617
00:26:44,400 --> 00:26:47,320
Speaker 2: borrowing an article of clothing that you'll probably need only

618
00:26:47,400 --> 00:26:51,919
Speaker 2: once isn't taboo. It's awesome. But that being said, there

619
00:26:51,960 --> 00:26:54,080
Speaker 2: are other places that you can borrow from as well.

620
00:26:54,359 --> 00:26:58,119
Speaker 2: And I guess my mind's in the space of tools

621
00:26:58,160 --> 00:26:59,639
Speaker 2: and whatnot, but there are tool banks out there. You

622
00:26:59,640 --> 00:27:03,359
Speaker 2: can look up local tools dot org and locate ToolBanks

623
00:27:03,720 --> 00:27:06,399
Speaker 2: near wherever it is that you live, and honestly, just

624
00:27:06,440 --> 00:27:09,120
Speaker 2: libraries in general, I think those are worth mentioning as well,

625
00:27:09,160 --> 00:27:11,480
Speaker 2: looking to some of the different options that are available

626
00:27:11,560 --> 00:27:15,199
Speaker 2: to us, and to be honest, they are options that

627
00:27:15,240 --> 00:27:17,560
Speaker 2: you pay for with your taxes, and so these are

628
00:27:18,320 --> 00:27:21,000
Speaker 2: resources that are available to us, and I think we

629
00:27:21,000 --> 00:27:22,640
Speaker 2: should all take advantage of more often.

630
00:27:22,680 --> 00:27:25,000
Speaker 1: When you mentioned borrowing clothing, by the way, there's stuff

631
00:27:25,000 --> 00:27:26,680
Speaker 1: like rent the runway out there, but you could also

632
00:27:26,720 --> 00:27:27,680
Speaker 1: literally just ask a friend.

633
00:27:27,720 --> 00:27:29,600
Speaker 2: Oh yeah, I'm talking about like asking your neighbor.

634
00:27:29,760 --> 00:27:31,840
Speaker 1: Because if I needed a blazer, because I don't dress

635
00:27:31,880 --> 00:27:33,720
Speaker 1: up very much, but I knew a friend same size,

636
00:27:33,760 --> 00:27:35,480
Speaker 1: he had one and I could probably use just for

637
00:27:35,520 --> 00:27:37,520
Speaker 1: a night because literally I dress up like once a year.

638
00:27:37,680 --> 00:27:39,439
Speaker 1: I've got like one nice suit. But let's say I

639
00:27:39,440 --> 00:27:41,600
Speaker 1: needed something a little fancier, I could reach out to

640
00:27:41,640 --> 00:27:43,560
Speaker 1: a friend and ask. I mean, I could try one

641
00:27:43,600 --> 00:27:46,240
Speaker 1: of those services online where I could rent something, but

642
00:27:46,280 --> 00:27:47,600
Speaker 1: I can also just borrow.

643
00:27:47,680 --> 00:27:48,560
Speaker 2: I think we've kind.

644
00:27:48,440 --> 00:27:51,479
Speaker 1: Of gotten a way from asking friends to borrow stuff,

645
00:27:51,800 --> 00:27:54,240
Speaker 1: and the more we like reincorporate that, the more money

646
00:27:54,280 --> 00:27:55,920
Speaker 1: we can save. But I'll say it's like a community

647
00:27:55,920 --> 00:27:58,399
Speaker 1: building effort too, where we just like start to borrow

648
00:27:58,400 --> 00:28:00,040
Speaker 1: from one another more regularly. I think that's just a

649
00:28:00,119 --> 00:28:00,880
Speaker 1: healthy way to live.

650
00:28:01,160 --> 00:28:03,000
Speaker 2: Totally. Yeah, I couldn't agree more. I think this is

651
00:28:03,040 --> 00:28:07,639
Speaker 2: one area where online shopping has sort of weakened the

652
00:28:07,640 --> 00:28:09,680
Speaker 2: fabric of our communities because I feel like that would

653
00:28:09,680 --> 00:28:12,320
Speaker 2: have been something or you know, borrowing a tool from

654
00:28:12,320 --> 00:28:14,159
Speaker 2: a neighbor, Like that's the kind of those are some

655
00:28:14,200 --> 00:28:16,280
Speaker 2: of those weak, not I don't want to call them weak,

656
00:28:16,320 --> 00:28:20,080
Speaker 2: but like casual connections that reinforce, that strengthen the community.

657
00:28:20,200 --> 00:28:22,760
Speaker 2: And when it is so stinking easy just to order

658
00:28:22,800 --> 00:28:25,160
Speaker 2: something online and just have it show up, well, I mean,

659
00:28:25,600 --> 00:28:27,680
Speaker 2: don't we want to do things that are that's easy.

660
00:28:27,760 --> 00:28:29,600
Speaker 2: I mean we've got busy lives and just I can

661
00:28:29,600 --> 00:28:30,960
Speaker 2: just hop on the app and to order it, as

662
00:28:30,960 --> 00:28:34,240
Speaker 2: opposed to texting and asking a bunch of questions, going

663
00:28:34,280 --> 00:28:36,000
Speaker 2: back and forth, having them, you know, set it out

664
00:28:36,040 --> 00:28:37,399
Speaker 2: in their garage or setting it out on.

665
00:28:37,400 --> 00:28:38,920
Speaker 1: The even if you don't know them super well and

666
00:28:38,920 --> 00:28:40,560
Speaker 1: you're like, I don't know, maybe this is an imposition,

667
00:28:40,720 --> 00:28:42,680
Speaker 1: or I just moved in the neighborhood. I don't know

668
00:28:42,680 --> 00:28:44,200
Speaker 1: that neighbor super well. But these are kind of the

669
00:28:44,240 --> 00:28:46,600
Speaker 1: ways that you deepen those ties that, like the fabric

670
00:28:46,640 --> 00:28:50,360
Speaker 1: of a community grows as opposed to deteriorates right totally.

671
00:28:50,400 --> 00:28:52,080
Speaker 1: And it might sound weird. I think a lot of

672
00:28:52,120 --> 00:28:54,080
Speaker 1: people actually start to think of it as like imposing

673
00:28:54,080 --> 00:28:57,120
Speaker 1: on somebody else, or that you're being lazy or you're

674
00:28:57,160 --> 00:28:58,880
Speaker 1: being cheap by asking. But I don't think so. I

675
00:28:58,880 --> 00:29:00,720
Speaker 1: don't think that's how it works. I think there's a

676
00:29:00,760 --> 00:29:02,800
Speaker 1: reciprocity that can take place, and then you lend them

677
00:29:02,920 --> 00:29:04,680
Speaker 1: something to them in the future, or you know, give

678
00:29:04,680 --> 00:29:06,240
Speaker 1: them a couple eggs that are worth a million dollars

679
00:29:06,280 --> 00:29:08,040
Speaker 1: now because eggs are so expensive. I mean, there's just

680
00:29:08,400 --> 00:29:10,720
Speaker 1: there's so many ways I think that you can encourage

681
00:29:10,720 --> 00:29:14,480
Speaker 1: that where you live without just going to the online

682
00:29:14,520 --> 00:29:18,040
Speaker 1: resource or you know, yeah, borrowing from a friend makes

683
00:29:18,040 --> 00:29:20,280
Speaker 1: a lot of sense to me for a lot of

684
00:29:20,280 --> 00:29:22,840
Speaker 1: different things that you might need. But so far, we've

685
00:29:22,920 --> 00:29:25,320
Speaker 1: kind of addressed the problem of quality versus quantity to

686
00:29:25,320 --> 00:29:28,040
Speaker 1: a certain extent, like you don't need eight coolers, you

687
00:29:28,080 --> 00:29:30,600
Speaker 1: might need one great cooler. But for the most part,

688
00:29:30,840 --> 00:29:32,920
Speaker 1: this is an issue that lies outside of ourselves. These

689
00:29:32,920 --> 00:29:36,280
Speaker 1: are external problems on the purchasing front that we've discussed,

690
00:29:36,520 --> 00:29:40,160
Speaker 1: but another major problem is internal. It's the mindless consumption.

691
00:29:40,280 --> 00:29:41,840
Speaker 1: The most of us all take part in it, and

692
00:29:41,920 --> 00:29:43,880
Speaker 1: I say most of us. I include myself in that

693
00:29:44,120 --> 00:29:47,400
Speaker 1: because I'm not immune from kind of No, I'm not

694
00:29:47,480 --> 00:29:50,560
Speaker 1: immune from the realities of kind of our consumer culture,

695
00:29:50,960 --> 00:29:53,360
Speaker 1: and I'm trying to try to be cognizant of it.

696
00:29:53,440 --> 00:29:55,280
Speaker 1: I try to combat it, but it doesn't mean I

697
00:29:55,360 --> 00:29:58,600
Speaker 1: do it perfectly. And so, yeah, I think it's important

698
00:29:58,640 --> 00:30:00,480
Speaker 1: to mention that these are things that Matt and I

699
00:30:00,480 --> 00:30:03,080
Speaker 1: struggle with as well. But they're things that, Yeah, I

700
00:30:03,080 --> 00:30:05,200
Speaker 1: think we all need to work to come back together.

701
00:30:05,240 --> 00:30:08,440
Speaker 1: And one economist he referred to our inability torain in

702
00:30:08,440 --> 00:30:12,120
Speaker 1: our spending desires as trickle down behaviorism, which I think

703
00:30:12,200 --> 00:30:13,400
Speaker 1: is a really good definition.

704
00:30:13,760 --> 00:30:14,880
Speaker 2: And I see that happening too.

705
00:30:14,880 --> 00:30:16,960
Speaker 1: I see other people spending in certain ways, and it

706
00:30:17,080 --> 00:30:19,400
Speaker 1: kind of, I don't know, it primes the pump for

707
00:30:19,520 --> 00:30:22,480
Speaker 1: me to spend in ways that I might not otherwise

708
00:30:22,680 --> 00:30:23,160
Speaker 1: choose to do.

709
00:30:23,200 --> 00:30:25,800
Speaker 2: Either. You're like, I got money, Yeah, I want that

710
00:30:25,840 --> 00:30:26,160
Speaker 2: thing too.

711
00:30:26,160 --> 00:30:27,520
Speaker 1: Well, they can do it if they can afford it,

712
00:30:27,920 --> 00:30:30,120
Speaker 1: why don't I do that? And so yeah, I think

713
00:30:30,160 --> 00:30:32,720
Speaker 1: a decent chunk of the American public they kind of

714
00:30:32,760 --> 00:30:35,080
Speaker 1: tend to base consumption choices on what they're seeing others

715
00:30:35,120 --> 00:30:38,200
Speaker 1: do around them, and when we're marching to the beat

716
00:30:38,280 --> 00:30:41,479
Speaker 1: of other people's drummers, we're bound to find ourselves making

717
00:30:41,560 --> 00:30:44,440
Speaker 1: decisions that aren't in our own best interest and which

718
00:30:44,480 --> 00:30:47,120
Speaker 1: cause us to spend money in ways that don't line

719
00:30:47,200 --> 00:30:49,480
Speaker 1: up with our own personal goals, you know, our own

720
00:30:49,520 --> 00:30:52,440
Speaker 1: personal desires. And it's also known as keeping up with

721
00:30:52,440 --> 00:30:54,480
Speaker 1: the joneses, of course, like you've heard that term. But

722
00:30:54,560 --> 00:30:56,960
Speaker 1: that's why starting to think more about what we want,

723
00:30:57,480 --> 00:30:59,560
Speaker 1: not what our culture tells us we should want, is

724
00:30:59,600 --> 00:31:01,440
Speaker 1: an important and step to take and kind of like

725
00:31:01,480 --> 00:31:06,240
Speaker 1: another nerdy term here, Matt, that is called compensatory consumption.

726
00:31:06,560 --> 00:31:09,120
Speaker 1: And probably the best example of this is a guy

727
00:31:09,280 --> 00:31:12,040
Speaker 1: in like a yellow sports car. You're like, oh, what's he?

728
00:31:12,520 --> 00:31:14,920
Speaker 2: What's he? What's he? Uh? What's he making up for? Yeah?

729
00:31:14,960 --> 00:31:19,320
Speaker 1: Uh, yeah, he's compensating for something, right, and so, but

730
00:31:19,520 --> 00:31:22,240
Speaker 1: we often do this in smaller, more subtle ways too,

731
00:31:22,400 --> 00:31:26,280
Speaker 1: and we tend to tend to spend, at least sometimes

732
00:31:26,600 --> 00:31:28,600
Speaker 1: in ways that are making up for other ways in

733
00:31:28,640 --> 00:31:30,480
Speaker 1: which we feel like our lives aren't what we want

734
00:31:30,480 --> 00:31:33,480
Speaker 1: them to be, and that leads to a precarious financial

735
00:31:33,480 --> 00:31:36,000
Speaker 1: position for a lot of people. It's just it's poor spending,

736
00:31:36,040 --> 00:31:39,080
Speaker 1: but largely goaded by the fact that, like other parts

737
00:31:39,080 --> 00:31:42,000
Speaker 1: of our lives just aren't going exactly.

738
00:31:41,600 --> 00:31:43,360
Speaker 2: The way we hoped. That's right, and kind of going

739
00:31:43,400 --> 00:31:44,920
Speaker 2: back to what you're saying too about keeping up with

740
00:31:44,920 --> 00:31:47,680
Speaker 2: the Joneses. So if we're highlighting the fact that we

741
00:31:47,720 --> 00:31:50,880
Speaker 2: are spending in ways that they think we should be spending,

742
00:31:50,880 --> 00:31:53,400
Speaker 2: I think that brings up another problem, Right, what do

743
00:31:53,440 --> 00:31:55,640
Speaker 2: we actually want to spend our money on? You know,

744
00:31:55,680 --> 00:31:58,680
Speaker 2: what kind of spending is actually going to make us happy? Well,

745
00:31:58,760 --> 00:32:01,880
Speaker 2: we'll discuss how to be again thinking through that right

746
00:32:02,000 --> 00:32:02,800
Speaker 2: after the break.

747
00:32:12,240 --> 00:32:13,959
Speaker 1: All right, Matt, let's keep going. We're talking about these

748
00:32:14,000 --> 00:32:16,920
Speaker 1: science of smarter spending on today's episode, of course, and

749
00:32:17,120 --> 00:32:20,240
Speaker 1: we want we want how to money listeners to you know,

750
00:32:20,360 --> 00:32:22,560
Speaker 1: not fall paray to planned obso lessons. We want them

751
00:32:22,600 --> 00:32:25,440
Speaker 1: to buy better things that are going to last longer,

752
00:32:25,880 --> 00:32:29,160
Speaker 1: and or buy fewer things all together, and rent more stuff.

753
00:32:29,200 --> 00:32:31,640
Speaker 1: Maybe all those kinds of things I think are helpful

754
00:32:31,760 --> 00:32:34,560
Speaker 1: in kind of curving the cycle of just like spending

755
00:32:34,720 --> 00:32:37,120
Speaker 1: more than we should. But then we have to really

756
00:32:37,160 --> 00:32:39,320
Speaker 1: address the core issue. And I think that's what we're

757
00:32:39,320 --> 00:32:42,480
Speaker 1: going to get into here, which is what matters to

758
00:32:42,600 --> 00:32:45,080
Speaker 1: me as an individual, what moves the needle from a

759
00:32:45,120 --> 00:32:48,600
Speaker 1: purchase perspective, Because the truth is, some of the things

760
00:32:48,600 --> 00:32:51,800
Speaker 1: that we buy are meaningful. We even did an episode

761
00:32:51,840 --> 00:32:54,320
Speaker 1: back in the day matt on experiences versus things, and

762
00:32:54,760 --> 00:32:59,400
Speaker 1: a lot of the literature shows that buying experiences matters most.

763
00:32:59,400 --> 00:33:01,840
Speaker 1: We'll talk about that in a second. But like, it's

764
00:33:02,080 --> 00:33:03,560
Speaker 1: that that's true to a certain extent. But some of

765
00:33:03,600 --> 00:33:05,400
Speaker 1: the things we buy mean a lot to us too.

766
00:33:05,720 --> 00:33:08,920
Speaker 1: There are definitely some things that I own that I

767
00:33:08,960 --> 00:33:10,880
Speaker 1: place a lot of value on, Like my bike is

768
00:33:10,920 --> 00:33:13,560
Speaker 1: one of them, right, And if my bike got stolen,

769
00:33:13,880 --> 00:33:15,960
Speaker 1: it would feel a lot worse than someone taking that

770
00:33:16,000 --> 00:33:17,720
Speaker 1: money out of my bank account even right, because I've

771
00:33:17,720 --> 00:33:19,160
Speaker 1: got I just have like a lot of history with

772
00:33:19,200 --> 00:33:21,640
Speaker 1: this thing. And sometimes the things we own can have

773
00:33:22,240 --> 00:33:25,560
Speaker 1: that deep of a tie to who we are. And

774
00:33:26,120 --> 00:33:29,160
Speaker 1: but like, not everything we own should have that. Probably

775
00:33:29,240 --> 00:33:31,480
Speaker 1: we should have a relationship to everything we own. Probably true,

776
00:33:31,520 --> 00:33:34,200
Speaker 1: that's that extreme, But you know, let's focus on spending

777
00:33:34,280 --> 00:33:36,360
Speaker 1: less on the things that the culture is steering us

778
00:33:36,400 --> 00:33:39,040
Speaker 1: towards and more on the things that matter the most

779
00:33:39,040 --> 00:33:41,239
Speaker 1: to us. I think it's a really important thing when

780
00:33:41,280 --> 00:33:44,000
Speaker 1: it comes to spending smartly, and who we follow on

781
00:33:44,040 --> 00:33:47,320
Speaker 1: social media directly impacts our mental state and how likely

782
00:33:47,360 --> 00:33:49,640
Speaker 1: we are to go out there and spend like maniacs.

783
00:33:49,800 --> 00:33:53,600
Speaker 1: If you're following celebrities and fashion influencers and they're putting

784
00:33:53,640 --> 00:33:56,120
Speaker 1: you in the wrong state of mind, that could lead

785
00:33:56,160 --> 00:33:58,920
Speaker 1: to spending in ways that you don't want to write.

786
00:33:59,040 --> 00:34:02,480
Speaker 2: Literally, it's in their name influencers like their goal is

787
00:34:02,520 --> 00:34:05,280
Speaker 2: to get you to do something that companies are paying

788
00:34:05,280 --> 00:34:06,000
Speaker 2: them to get you to do.

789
00:34:06,080 --> 00:34:07,800
Speaker 1: Yeah, oh click the link below for ten percent off,

790
00:34:07,800 --> 00:34:10,120
Speaker 1: and you're like, whoo, all right, that's great. Well, I

791
00:34:10,160 --> 00:34:14,000
Speaker 1: mean in who you like specifically, curating that feed is

792
00:34:14,400 --> 00:34:18,320
Speaker 1: one way to kind of reduce that cycle of buying

793
00:34:18,320 --> 00:34:21,200
Speaker 1: things that you weren't otherwise thinking about purchasing. And it's

794
00:34:21,400 --> 00:34:24,319
Speaker 1: it's important too to work towards reducing our wants. And

795
00:34:24,480 --> 00:34:27,400
Speaker 1: the thing is, and something that I think we often

796
00:34:27,400 --> 00:34:31,600
Speaker 1: fail to realize, is that our pension to overspend means

797
00:34:31,640 --> 00:34:34,080
Speaker 1: will be forced to reduce our wants in the future

798
00:34:34,400 --> 00:34:37,040
Speaker 1: to pay for prior spending. So we're unwilling or have

799
00:34:37,160 --> 00:34:40,160
Speaker 1: the option in the future, we're unwilling or spending today

800
00:34:40,200 --> 00:34:42,360
Speaker 1: to do it right now, to say no to the

801
00:34:42,360 --> 00:34:44,520
Speaker 1: thing that we want, which means that we're going to

802
00:34:44,560 --> 00:34:46,279
Speaker 1: have to future us is going to have to say

803
00:34:46,280 --> 00:34:49,719
Speaker 1: no to things because we're paying, you know, likely with

804
00:34:49,760 --> 00:34:52,360
Speaker 1: an interest rate attached for the things that we bought before.

805
00:34:52,800 --> 00:34:55,120
Speaker 1: And the truth is, and this is kind of maybe

806
00:34:55,120 --> 00:34:56,560
Speaker 1: a weird thing to say, but if you set your

807
00:34:56,600 --> 00:34:59,960
Speaker 1: expectations and your desires low, there's a really good chance

808
00:35:00,120 --> 00:35:02,239
Speaker 1: going to spend lesson that you'll actually be happier. And

809
00:35:02,280 --> 00:35:05,200
Speaker 1: I think the things that we encounter, especially on social media,

810
00:35:05,280 --> 00:35:07,640
Speaker 1: they kind of elevate our expectations for what our lives

811
00:35:07,680 --> 00:35:10,480
Speaker 1: should look like, and then we start to spend accordingly

812
00:35:10,480 --> 00:35:12,320
Speaker 1: because we think our lives should look like that, because

813
00:35:12,560 --> 00:35:14,759
Speaker 1: darn it, if there's can why can't mind? And in

814
00:35:14,800 --> 00:35:17,080
Speaker 1: the end it actually makes us more indebted and less

815
00:35:17,080 --> 00:35:18,080
Speaker 1: happy overall.

816
00:35:17,880 --> 00:35:22,680
Speaker 2: Yeah, leaving us in a less healthy mental state as well. So, yeah,

817
00:35:22,680 --> 00:35:25,279
Speaker 2: you're talking about social media. But once we've quieted all

818
00:35:25,320 --> 00:35:27,520
Speaker 2: that noise out there, right, we've put to rest all

819
00:35:27,520 --> 00:35:30,439
Speaker 2: the messaging telling us what to buy, I think it's

820
00:35:30,480 --> 00:35:34,520
Speaker 2: time to get a little more introspective to identify your

821
00:35:34,640 --> 00:35:37,560
Speaker 2: craft beer equivalent. We briefly mentioned this at the beginning

822
00:35:37,600 --> 00:35:40,279
Speaker 2: of every interview, But we want to find out, for

823
00:35:40,360 --> 00:35:43,920
Speaker 2: individuals who we're talking to, what is your craft beer equivalent,

824
00:35:43,960 --> 00:35:45,959
Speaker 2: What is the thing that you are intentionally spending money

825
00:35:46,040 --> 00:35:49,080
Speaker 2: on now in order to basically prove to yourself that

826
00:35:49,200 --> 00:35:53,200
Speaker 2: is not just about deferring happiness and enjoyment and leading

827
00:35:53,320 --> 00:35:56,080
Speaker 2: a life of deprivation now. And so for some this

828
00:35:56,120 --> 00:35:58,600
Speaker 2: will be easy because you already know yourself pretty well.

829
00:35:58,640 --> 00:36:01,080
Speaker 2: But for others, this you know, honestly, it might take

830
00:36:01,120 --> 00:36:03,960
Speaker 2: some time. It might take some trial and error because

831
00:36:03,960 --> 00:36:08,000
Speaker 2: identifying the spending that move the needle the most for you,

832
00:36:08,080 --> 00:36:10,719
Speaker 2: like that might not be the most intuitive process. And

833
00:36:10,760 --> 00:36:12,399
Speaker 2: so I want to say that, first of all, it's

834
00:36:12,400 --> 00:36:15,000
Speaker 2: okay to make some mistakes, in particular mistakes that don't

835
00:36:15,040 --> 00:36:17,439
Speaker 2: cost you a ton of money, because the vital part

836
00:36:17,440 --> 00:36:21,160
Speaker 2: of spending more on quality is determining the areas of

837
00:36:21,200 --> 00:36:23,279
Speaker 2: spending that matter the most to you. You know that

838
00:36:23,800 --> 00:36:25,600
Speaker 2: keep this in mind, like this is your hard earned

839
00:36:25,640 --> 00:36:28,360
Speaker 2: money and you're not spending it to impress other people.

840
00:36:28,760 --> 00:36:30,799
Speaker 2: It's okay to make some mistakes, to make some errors,

841
00:36:30,800 --> 00:36:33,200
Speaker 2: but we want there to be I guess smaller price

842
00:36:33,239 --> 00:36:36,160
Speaker 2: tags associated with those mistakes, with those areas of spending

843
00:36:36,200 --> 00:36:39,200
Speaker 2: that didn't bring you the most joy. Necessarily before you're

844
00:36:39,600 --> 00:36:42,120
Speaker 2: spending out the nose, don't buy a Briythan and then

845
00:36:42,120 --> 00:36:43,799
Speaker 2: be like, oh crap, no, I guess I don't really

846
00:36:43,840 --> 00:36:47,160
Speaker 2: like electric. Maybe start with a leaf. Yeah, but it's

847
00:36:47,160 --> 00:36:49,800
Speaker 2: just hard to know, right If your craft beer equivalent

848
00:36:49,840 --> 00:36:53,200
Speaker 2: is travel, if you haven't gone on any sort of trip,

849
00:36:53,280 --> 00:36:56,239
Speaker 2: don't start with like the four week long international trip.

850
00:36:56,239 --> 00:36:59,200
Speaker 2: But maybe start with like visiting your local state park,

851
00:36:59,400 --> 00:37:01,719
Speaker 2: or start with a local city that you can visit

852
00:37:01,760 --> 00:37:03,680
Speaker 2: and spend some time. And it's good to go ahead

853
00:37:03,680 --> 00:37:05,880
Speaker 2: and just dip your toe in the waters first to

854
00:37:06,000 --> 00:37:08,080
Speaker 2: kind of ease on into it, and then you know,

855
00:37:08,160 --> 00:37:11,360
Speaker 2: after you try that purchase out, then do just a

856
00:37:11,360 --> 00:37:13,520
Speaker 2: little bit of reflecting, maybe a little bit of soul searching,

857
00:37:13,560 --> 00:37:15,600
Speaker 2: to see if it's moving the needle for you.

858
00:37:15,719 --> 00:37:18,319
Speaker 1: Yeah, I think it's always to me, it's always fun

859
00:37:18,360 --> 00:37:20,359
Speaker 1: to see how other people spend money and what lights

860
00:37:20,400 --> 00:37:23,600
Speaker 1: them up, when they know what excites him, when they

861
00:37:23,640 --> 00:37:24,680
Speaker 1: know what moves the needle.

862
00:37:24,719 --> 00:37:25,359
Speaker 2: And it made me think.

863
00:37:25,480 --> 00:37:28,360
Speaker 1: I was reading Calypso by David Sedaris recently, I was

864
00:37:28,360 --> 00:37:30,200
Speaker 1: listening to the audiobooks that's a new one. No, I

865
00:37:30,239 --> 00:37:32,000
Speaker 1: think it's a few years ago, but I think I'm

866
00:37:32,000 --> 00:37:34,520
Speaker 1: on wait at the library to get his new one.

867
00:37:34,640 --> 00:37:36,719
Speaker 1: But actually it was so good and so funny. But

868
00:37:36,760 --> 00:37:39,680
Speaker 1: he was talking about how he and his sisters liked

869
00:37:39,719 --> 00:37:43,400
Speaker 1: to go shopping in Japan at this like weird, weird

870
00:37:43,440 --> 00:37:46,920
Speaker 1: store where the clothing almost looks like it's been used

871
00:37:47,000 --> 00:37:49,759
Speaker 1: or put through like a war battlefield, is the way

872
00:37:49,800 --> 00:37:51,880
Speaker 1: he describes it. But it's funny. That's what he loves,

873
00:37:51,880 --> 00:37:53,759
Speaker 1: and he talks about how it lights him up, how

874
00:37:53,800 --> 00:37:56,760
Speaker 1: he gets so excited, and that's just you can tell

875
00:37:57,200 --> 00:38:00,319
Speaker 1: in so many other ways he's he probably die back,

876
00:38:00,400 --> 00:38:02,279
Speaker 1: but that is something he's like, I spend a lot

877
00:38:02,280 --> 00:38:04,360
Speaker 1: of money on that stuff, and I don't care because

878
00:38:04,480 --> 00:38:06,440
Speaker 1: it's the best experience ever to go do that with

879
00:38:06,480 --> 00:38:09,239
Speaker 1: my sisters. I love to see when other people they

880
00:38:09,320 --> 00:38:11,319
Speaker 1: kind of know themselves to that extent, And that's part

881
00:38:11,320 --> 00:38:13,280
Speaker 1: of what it takes to know your craft. Beer equivalent

882
00:38:13,560 --> 00:38:15,880
Speaker 1: means getting to know yourself a little bit. And like

883
00:38:15,920 --> 00:38:17,759
Speaker 1: you said, Matt might have to make some mistakes in

884
00:38:17,800 --> 00:38:20,319
Speaker 1: the process of figuring that out, but it's worth figuring out,

885
00:38:20,360 --> 00:38:22,799
Speaker 1: because then you're like happy to spend those dollars as

886
00:38:22,840 --> 00:38:25,439
Speaker 1: opposed to beating yourself up every time you fork over

887
00:38:25,480 --> 00:38:28,000
Speaker 1: money to spend on something that you care about, right, yeah, and.

888
00:38:28,160 --> 00:38:31,080
Speaker 2: Well and going before we move on, Like it makes

889
00:38:31,080 --> 00:38:32,720
Speaker 2: me think back to at the beginning of the episode

890
00:38:32,719 --> 00:38:35,640
Speaker 2: more we're talking about your kids, you know, like the doll,

891
00:38:35,719 --> 00:38:37,480
Speaker 2: the Barbie dream house or whatever. I think this is

892
00:38:37,520 --> 00:38:39,759
Speaker 2: when as parents, it is so important for us to

893
00:38:39,800 --> 00:38:42,600
Speaker 2: put our kids in situations that allow them to make

894
00:38:42,640 --> 00:38:46,480
Speaker 2: some mistakes while they still live under our roof, right,

895
00:38:46,800 --> 00:38:49,359
Speaker 2: we want to expose them to the ability to make

896
00:38:49,400 --> 00:38:53,000
Speaker 2: some errors. I think it's important for them to fail occasionally,

897
00:38:53,080 --> 00:38:56,239
Speaker 2: but to fail where the fail when the failure is

898
00:38:56,239 --> 00:38:57,600
Speaker 2: not going to be fatal, when the stakes are low,

899
00:38:57,640 --> 00:38:59,640
Speaker 2: when the stakes are low, exactly. And this is going

900
00:38:59,680 --> 00:39:01,040
Speaker 2: to be a good chance for me to talk about

901
00:39:01,080 --> 00:39:04,200
Speaker 2: trade offs with my oldest daughter too, which is, like

902
00:39:04,239 --> 00:39:07,400
Speaker 2: we said, just a massive part of spending wisely Like cool,

903
00:39:07,480 --> 00:39:09,719
Speaker 2: now that this isn't necessarily some cost, you might be

904
00:39:09,760 --> 00:39:11,040
Speaker 2: able to get some of your money back for this

905
00:39:11,320 --> 00:39:13,200
Speaker 2: and spend it on something that you care about more,

906
00:39:13,360 --> 00:39:15,520
Speaker 2: which is also true, Like we can sometimes sell things

907
00:39:15,640 --> 00:39:17,200
Speaker 2: right when we're like, oh, that was a mistake, Well,

908
00:39:17,239 --> 00:39:18,799
Speaker 2: then get that thing out of your life, right, sell

909
00:39:18,840 --> 00:39:20,759
Speaker 2: it and move on and use that money to buy

910
00:39:20,800 --> 00:39:23,120
Speaker 2: something that is going to make a difference, that is

911
00:39:23,160 --> 00:39:26,000
Speaker 2: something that you're going to want to have. And we've

912
00:39:26,040 --> 00:39:28,920
Speaker 2: spent a lot of this episode already talking about stuff, Matt,

913
00:39:28,920 --> 00:39:31,759
Speaker 2: but let's talk about experiences for a second, because they

914
00:39:31,800 --> 00:39:35,319
Speaker 2: are I think I think stuff is underrated sometimes buying

915
00:39:35,360 --> 00:39:38,000
Speaker 2: the right things, but experiences are often one of the

916
00:39:38,000 --> 00:39:40,840
Speaker 2: best ways to maximize the utility of your dollars. Because

917
00:39:41,160 --> 00:39:43,960
Speaker 2: we're all for low cost or even free outings with friends,

918
00:39:44,320 --> 00:39:46,200
Speaker 2: but this is probably an area in life that you

919
00:39:46,239 --> 00:39:49,759
Speaker 2: intentionally choose to spend more on in order to lead

920
00:39:49,800 --> 00:39:53,080
Speaker 2: to much more happiness. Part of what's cool about spending

921
00:39:53,120 --> 00:39:58,359
Speaker 2: money on experiences is often the anticipation that you get

922
00:39:58,400 --> 00:40:02,240
Speaker 2: in advance of that experience, and then also the memories

923
00:40:02,239 --> 00:40:05,080
Speaker 2: that you get as you look back on that experience.

924
00:40:05,080 --> 00:40:06,880
Speaker 1: So, Matt, we just you know, we just went on

925
00:40:06,880 --> 00:40:08,440
Speaker 1: a trip actually, and then we're about to go on

926
00:40:08,480 --> 00:40:12,799
Speaker 1: another trip later this spring, and the I'm already I'm

927
00:40:12,840 --> 00:40:15,560
Speaker 1: already excited about it, planning it as we're talking about it,

928
00:40:15,600 --> 00:40:18,319
Speaker 1: thinking about it, and I'm already looking back at our

929
00:40:18,360 --> 00:40:21,360
Speaker 1: recent trip together where we just made some awesome memories

930
00:40:21,360 --> 00:40:24,360
Speaker 1: with our wives. We had a great time trapesing around Louisville, Kentucky,

931
00:40:24,719 --> 00:40:28,800
Speaker 1: and there's all sorts of just joy associated with even

932
00:40:28,920 --> 00:40:32,800
Speaker 1: just a short weekend trip like that. I think experiences

933
00:40:32,960 --> 00:40:35,000
Speaker 1: are and they really can be one of the best

934
00:40:35,080 --> 00:40:38,240
Speaker 1: uses of our dollars because via the memories, via the pictures,

935
00:40:38,480 --> 00:40:41,319
Speaker 1: they can almost like be the gift that keeps on

936
00:40:41,400 --> 00:40:44,600
Speaker 1: giving in that way, right, But it's also not just

937
00:40:44,960 --> 00:40:47,960
Speaker 1: that shoulder season trip the Iceland that provides a payoff.

938
00:40:48,280 --> 00:40:50,400
Speaker 1: Iceland I think is still one of the hot destinations

939
00:40:50,480 --> 00:40:53,040
Speaker 1: right now, but buying your time back and having more

940
00:40:53,080 --> 00:40:55,080
Speaker 1: margin is a pretty sweet use of your dollars too.

941
00:40:55,120 --> 00:40:58,640
Speaker 1: That's true from an overall, you know, financial independence perspective.

942
00:40:59,000 --> 00:41:01,000
Speaker 1: When you're talking about, like, you know, trying to retire

943
00:41:01,000 --> 00:41:03,399
Speaker 1: early or something like that, then yeah, having more money

944
00:41:03,400 --> 00:41:05,959
Speaker 1: in your bank account really does allow you to leave

945
00:41:05,960 --> 00:41:08,959
Speaker 1: work before you thought you'd be able to, or leave

946
00:41:08,960 --> 00:41:11,560
Speaker 1: work earlier than most, but it also can impact your

947
00:41:11,640 --> 00:41:14,000
Speaker 1: day to day, right, and free time is hard to

948
00:41:14,000 --> 00:41:16,319
Speaker 1: come by, but those who feel like they have more

949
00:41:16,360 --> 00:41:19,440
Speaker 1: of it, are often more willing to do other things

950
00:41:19,480 --> 00:41:22,000
Speaker 1: that are good for them, like exercise and volunteer, which

951
00:41:22,000 --> 00:41:25,080
Speaker 1: are two great habits. So I think at times, you know,

952
00:41:25,600 --> 00:41:28,479
Speaker 1: it might be worth testing some spending on maybe paying

953
00:41:28,520 --> 00:41:30,960
Speaker 1: someone to do lawn care or house cleaning for you,

954
00:41:31,200 --> 00:41:32,839
Speaker 1: so that you can have more time to do some

955
00:41:32,880 --> 00:41:34,120
Speaker 1: of the things that matter to you. It might not

956
00:41:34,160 --> 00:41:37,160
Speaker 1: even be buying more stuff. It might be buying more

957
00:41:37,160 --> 00:41:39,160
Speaker 1: of your time back to enjoy the things that you

958
00:41:39,200 --> 00:41:41,719
Speaker 1: care about, even if it's as simple as like laying

959
00:41:41,719 --> 00:41:42,800
Speaker 1: in your hammock reading a book.

960
00:41:42,960 --> 00:41:44,600
Speaker 2: That's true, man, And I think this is really important

961
00:41:44,600 --> 00:41:46,880
Speaker 2: to bring up as well, because it can be difficult

962
00:41:46,920 --> 00:41:50,720
Speaker 2: for folks to choose intentionally choose to not do tasks

963
00:41:50,760 --> 00:41:53,399
Speaker 2: that they are very capable and physically able to do

964
00:41:53,840 --> 00:41:57,840
Speaker 2: in order to do something else. Oftentimes, when we're younger,

965
00:41:57,880 --> 00:41:59,640
Speaker 2: we have less money, right Like, we've got less money

966
00:41:59,640 --> 00:42:02,480
Speaker 2: and plenty tea of time. But for like, the more

967
00:42:02,480 --> 00:42:06,000
Speaker 2: wealth you build up, oftentimes those two things flip and

968
00:42:06,040 --> 00:42:07,839
Speaker 2: you're like, oh man, I'm realizing they're like, Wow, we're

969
00:42:07,880 --> 00:42:10,080
Speaker 2: doing great with our finances. We're on track for a retirement,

970
00:42:10,080 --> 00:42:12,800
Speaker 2: whatever financial goals we've set for ourselves. It seems like

971
00:42:12,840 --> 00:42:16,720
Speaker 2: that that's working out, but oftentimes the stressor revolves around time,

972
00:42:17,120 --> 00:42:19,000
Speaker 2: and so I totally agree. I think this is a

973
00:42:19,040 --> 00:42:21,919
Speaker 2: way that we can proactively reclaim some of that time

974
00:42:22,040 --> 00:42:24,520
Speaker 2: by paying for some of those things. And again, I

975
00:42:24,520 --> 00:42:26,760
Speaker 2: think it's it's something that we oftentimes have to challenge

976
00:42:26,800 --> 00:42:30,080
Speaker 2: ourselves to do, because truly, the frugal approach would would

977
00:42:30,120 --> 00:42:32,759
Speaker 2: be to say, oh, well I can do that, and

978
00:42:32,880 --> 00:42:35,160
Speaker 2: if I am capable of doing that, why should I

979
00:42:35,200 --> 00:42:37,719
Speaker 2: pay somebody else to do that? It's like, well, well,

980
00:42:37,719 --> 00:42:39,080
Speaker 2: like what is it that you're trying to get more

981
00:42:39,120 --> 00:42:42,400
Speaker 2: of in your life? Okay, so but once you've identified that,

982
00:42:42,480 --> 00:42:44,239
Speaker 2: you know, like the things like the items or the

983
00:42:44,320 --> 00:42:47,399
Speaker 2: different experiences that make you the happiest. I think something

984
00:42:47,440 --> 00:42:50,680
Speaker 2: that you can do to heighten your your satisfaction even

985
00:42:50,719 --> 00:42:55,480
Speaker 2: more is by making your purchase a rare treat. I

986
00:42:55,480 --> 00:42:58,200
Speaker 2: think the more regularly that we do something, the less

987
00:42:58,200 --> 00:43:00,560
Speaker 2: special it becomes. Right, And so we were just talking

988
00:43:00,560 --> 00:43:03,600
Speaker 2: about travel. I think there's a massive difference between taking

989
00:43:03,600 --> 00:43:06,880
Speaker 2: a couple awesome week long trips every single year and

990
00:43:06,960 --> 00:43:09,799
Speaker 2: living a life of just perpetual, NonStop travel. Yeah, all

991
00:43:09,800 --> 00:43:11,840
Speaker 2: of a sudden, it probably doesn't feel all that specially

992
00:43:11,840 --> 00:43:14,200
Speaker 2: anymore if you're just constantly like, that's just your new normal,

993
00:43:14,800 --> 00:43:17,000
Speaker 2: and that hedonic treadmill kicks it in before you know it.

994
00:43:17,000 --> 00:43:18,719
Speaker 2: You don't even realize that you're traveling. This is just

995
00:43:18,760 --> 00:43:20,719
Speaker 2: your life. Yeah. Oh, but by the way, it's your

996
00:43:20,719 --> 00:43:22,200
Speaker 2: life that happens to cost a ton of money.

997
00:43:22,239 --> 00:43:24,120
Speaker 1: It makes me think of talking to Elaine and she

998
00:43:24,200 --> 00:43:26,960
Speaker 1: talked on Monday about the Frugal Traveler from the New

999
00:43:27,040 --> 00:43:28,640
Speaker 1: York Times, and she mentioned that one of the things

1000
00:43:28,680 --> 00:43:31,040
Speaker 1: that she does sometimes use those some of those points.

1001
00:43:31,040 --> 00:43:33,200
Speaker 1: She's a crued to upgrade to a nice re seat

1002
00:43:33,400 --> 00:43:36,040
Speaker 1: in the airplane and she's traveling all the time, and

1003
00:43:36,080 --> 00:43:38,279
Speaker 1: it's her splurge. Yeah, it's a splurge. And I'm like,

1004
00:43:38,280 --> 00:43:39,680
Speaker 1: that's a great way to treat it, because I know

1005
00:43:39,719 --> 00:43:41,879
Speaker 1: some people and it's like, if that's all you do,

1006
00:43:42,080 --> 00:43:43,840
Speaker 1: first class all the time, no matter what, all of.

1007
00:43:43,800 --> 00:43:46,279
Speaker 2: A sudden, that's just the new normal. It's the new normal, and.

1008
00:43:46,280 --> 00:43:48,120
Speaker 1: It doesn't feel the same and it doesn't provide the

1009
00:43:48,120 --> 00:43:48,720
Speaker 1: same rewards.

1010
00:43:48,760 --> 00:43:51,279
Speaker 2: Yeah. Similarly, it makes me think of every Monday, you

1011
00:43:51,280 --> 00:43:53,799
Speaker 2: and I we go to our local little coffee shop,

1012
00:43:53,840 --> 00:43:56,239
Speaker 2: a little stand over there and we order a coffee.

1013
00:43:56,360 --> 00:43:59,640
Speaker 2: We enjoy that that barista made coffee way more when

1014
00:43:59,680 --> 00:44:02,360
Speaker 2: we get once a week, and as opposed to imagine

1015
00:44:02,360 --> 00:44:03,920
Speaker 2: if we went over there every single day. First of all,

1016
00:44:04,200 --> 00:44:09,440
Speaker 2: just the financial irresponsibility, we lose our job, as how

1017
00:44:09,440 --> 00:44:12,160
Speaker 2: to my host, we'd lose our street cred if we

1018
00:44:12,160 --> 00:44:13,919
Speaker 2: were doing that. But I don't think we would enjoy

1019
00:44:13,920 --> 00:44:15,640
Speaker 2: it nearly as much. It would just kind of it

1020
00:44:15,640 --> 00:44:19,080
Speaker 2: would become again the new normal. There's just something about

1021
00:44:19,080 --> 00:44:21,759
Speaker 2: the novelty that I think that makes us appreciate the

1022
00:44:21,800 --> 00:44:22,680
Speaker 2: purchase even more.

1023
00:44:22,920 --> 00:44:26,239
Speaker 1: Yeah, man, I think that that's totally true. The more

1024
00:44:26,320 --> 00:44:29,200
Speaker 1: we get used to certain things, the less valuable they become.

1025
00:44:29,320 --> 00:44:32,160
Speaker 1: But we kind of continue to expect to do those things.

1026
00:44:32,160 --> 00:44:34,239
Speaker 1: We keep spending money on those things, and yet the

1027
00:44:34,280 --> 00:44:37,040
Speaker 1: payoff isn't quite the same right after a while.

1028
00:44:37,320 --> 00:44:39,480
Speaker 2: And makes me think of an old old personal finance

1029
00:44:39,520 --> 00:44:41,279
Speaker 2: guy that I used to keep up with, and he

1030
00:44:41,280 --> 00:44:43,839
Speaker 2: would say that eventually, if you lobster every single day,

1031
00:44:43,840 --> 00:44:47,640
Speaker 2: it just tastes like soap. Which I've never been a

1032
00:44:47,719 --> 00:44:49,799
Speaker 2: huge lobster fan myself, but I get that.

1033
00:44:49,960 --> 00:44:51,640
Speaker 1: Yeah, I get that too. I think, if I hate steak,

1034
00:44:51,880 --> 00:44:54,600
Speaker 1: you get tired of it pretty quickly. Right, So even

1035
00:44:54,640 --> 00:44:56,759
Speaker 1: the things that you love, if you overdo it, it

1036
00:44:57,800 --> 00:44:59,440
Speaker 1: won it's going to be bad for your finances, but

1037
00:44:59,480 --> 00:45:03,680
Speaker 1: too just it's not gonna provide the same return on investment. Well,

1038
00:45:03,680 --> 00:45:05,600
Speaker 1: and the goal of this episode is for all of

1039
00:45:05,640 --> 00:45:08,279
Speaker 1: us to really dial in and optimize our spending, but

1040
00:45:08,360 --> 00:45:11,080
Speaker 1: it's likely a great goal to just spend less overall

1041
00:45:11,080 --> 00:45:12,520
Speaker 1: as well. Right, I think that's probably what a lot

1042
00:45:12,520 --> 00:45:15,040
Speaker 1: of howty money listeners want. They are some of them

1043
00:45:15,120 --> 00:45:17,520
Speaker 1: might have like a thirty percent savings rate and they're like, yeah, no,

1044
00:45:17,600 --> 00:45:19,680
Speaker 1: I just not really. I think I'm good, I don't know,

1045
00:45:19,800 --> 00:45:22,520
Speaker 1: pretty good. But then there are other people who are like, no, really,

1046
00:45:22,560 --> 00:45:25,439
Speaker 1: that's something I want is to spend less overall. And

1047
00:45:25,760 --> 00:45:27,880
Speaker 1: there's a slogan from one of our favorite people in

1048
00:45:27,920 --> 00:45:31,680
Speaker 1: the personal finance space, Katie Wolk Stanley. She goes by

1049
00:45:31,680 --> 00:45:35,440
Speaker 1: the anti consumer advocate, and what she says is use

1050
00:45:35,480 --> 00:45:37,800
Speaker 1: it up, wear it out, make it do or do without.

1051
00:45:38,080 --> 00:45:41,080
Speaker 1: And if you follow her on Instagram, she's always doing

1052
00:45:41,120 --> 00:45:43,600
Speaker 1: something to save money, and it's often something that most

1053
00:45:43,640 --> 00:45:46,600
Speaker 1: people just wouldn't even consider, Like she shops at the

1054
00:45:46,640 --> 00:45:50,040
Speaker 1: thrift store regularly. She's often selling the things that she

1055
00:45:50,120 --> 00:45:51,759
Speaker 1: finds at the thrift store and telling you how much

1056
00:45:51,800 --> 00:45:53,960
Speaker 1: she made, how much she profited by selling it on eBay,

1057
00:45:53,960 --> 00:45:56,360
Speaker 1: which I think is awesome. Like she fixes the stuff

1058
00:45:56,400 --> 00:45:58,560
Speaker 1: that she owns when it's falling apart, even if it's

1059
00:45:58,600 --> 00:46:01,040
Speaker 1: just like a cheap pair of sandals. For her, no

1060
00:46:01,120 --> 00:46:03,880
Speaker 1: stone is left unturned. And I love following her because

1061
00:46:03,880 --> 00:46:07,200
Speaker 1: it gods me into leaning harder, towards wasting less and

1062
00:46:07,239 --> 00:46:09,360
Speaker 1: making do with what I've got. Matt just kind of

1063
00:46:09,400 --> 00:46:11,160
Speaker 1: like what we were talking about earlier with social media,

1064
00:46:11,200 --> 00:46:13,960
Speaker 1: the influence they can have, like her influence on me

1065
00:46:14,480 --> 00:46:17,280
Speaker 1: when I'm scrolling through social media is a positive one.

1066
00:46:17,440 --> 00:46:19,200
Speaker 1: It's the exact opposite I think of what a lot

1067
00:46:19,239 --> 00:46:21,160
Speaker 1: of people are getting in their feed. So follow people

1068
00:46:21,160 --> 00:46:22,719
Speaker 1: like that that are going to encourage you in the

1069
00:46:22,760 --> 00:46:25,080
Speaker 1: right direction, that aren't going to lead you down the

1070
00:46:25,080 --> 00:46:29,000
Speaker 1: path of like just rampant consumer spending, enticing you towards

1071
00:46:29,040 --> 00:46:31,200
Speaker 1: things that you can't necessarily afford and that you don't

1072
00:46:31,200 --> 00:46:31,879
Speaker 1: necessarily need.

1073
00:46:32,000 --> 00:46:34,400
Speaker 2: Totally agree, man, Yeah, I think it's important for us

1074
00:46:34,440 --> 00:46:37,520
Speaker 2: to start thinking about our purchases from a different perspective

1075
00:46:38,120 --> 00:46:40,680
Speaker 2: because it's sure, spending more money it can fix certain

1076
00:46:40,719 --> 00:46:43,279
Speaker 2: problems in our lives, but it's not the solution to

1077
00:46:43,360 --> 00:46:46,120
Speaker 2: every problem that we face. Friend of the show Morgan Hausel.

1078
00:46:46,200 --> 00:46:49,160
Speaker 2: He says that spending money to make you happy is

1079
00:46:49,200 --> 00:46:51,919
Speaker 2: hard when you're already happy. And so I think that's

1080
00:46:52,000 --> 00:46:53,759
Speaker 2: just kind of a great quote for us to end on,

1081
00:46:53,800 --> 00:46:55,960
Speaker 2: because being content with you know, what it is that

1082
00:46:56,000 --> 00:46:58,360
Speaker 2: we have will just make it easier to avoid some

1083
00:46:58,440 --> 00:47:01,040
Speaker 2: of those spending traps that we can follow into. When

1084
00:47:01,040 --> 00:47:04,719
Speaker 2: we know ourselves well and we can pinpoint exactly, you know,

1085
00:47:04,760 --> 00:47:06,360
Speaker 2: what actually makes us happy. I think we're going to

1086
00:47:06,440 --> 00:47:09,080
Speaker 2: be less likely to waste our money on either crap

1087
00:47:09,120 --> 00:47:11,719
Speaker 2: that's going to break or the things that culture and

1088
00:47:11,880 --> 00:47:14,000
Speaker 2: society says that we should be spending our money on.

1089
00:47:14,080 --> 00:47:15,319
Speaker 1: Yeah, I like that quot. I'm gonna say it one

1090
00:47:15,360 --> 00:47:17,680
Speaker 1: more time. Spending money to make you happy is hard

1091
00:47:17,719 --> 00:47:20,120
Speaker 1: if you're already happy. That's just a great way to

1092
00:47:20,160 --> 00:47:22,320
Speaker 1: think about it, right, And we're all going to feel

1093
00:47:22,480 --> 00:47:27,319
Speaker 1: that need, that desire less to spend money when we're

1094
00:47:27,320 --> 00:47:30,359
Speaker 1: truly happy, and and part of that knowing yourself.

1095
00:47:30,040 --> 00:47:33,600
Speaker 2: It becomes more about utility as opposed to the feelings

1096
00:47:33,640 --> 00:47:35,360
Speaker 2: that something that a purchase gives you.

1097
00:47:35,440 --> 00:47:37,600
Speaker 1: Sure, and we all know, we've all been there that

1098
00:47:37,880 --> 00:47:40,920
Speaker 1: sometimes it's that the temporary feeling that a purchase can provide.

1099
00:47:40,920 --> 00:47:42,800
Speaker 1: That's what we're seeking. And we're saying, Matt and I

1100
00:47:42,880 --> 00:47:44,680
Speaker 1: are saying in this episode, no, no, no, no, we

1101
00:47:44,719 --> 00:47:48,120
Speaker 1: want to avoid trying to maximize those fleeting feelings, right

1102
00:47:48,120 --> 00:47:51,320
Speaker 1: that sometimes consuming things, buying stuff randomly on the internet

1103
00:47:51,360 --> 00:47:53,840
Speaker 1: can provide. We were more about that long term health

1104
00:47:54,000 --> 00:47:57,399
Speaker 1: and so hopefully, yeah, spending wise. So hopefully we've given

1105
00:47:57,440 --> 00:48:00,080
Speaker 1: you some tips in this episode to spend wisely and

1106
00:48:00,120 --> 00:48:03,560
Speaker 1: to spend in a more reflective manner that is going

1107
00:48:03,600 --> 00:48:06,280
Speaker 1: to help you achieve those goals that you've got for yourself.

1108
00:48:06,440 --> 00:48:09,399
Speaker 2: That's right, Yeah, and not surprisingly this is I feel

1109
00:48:09,400 --> 00:48:10,960
Speaker 2: like this is kind of a very balanced approach to

1110
00:48:10,960 --> 00:48:13,480
Speaker 2: spending money, which I think folks should come to expect

1111
00:48:13,520 --> 00:48:15,520
Speaker 2: from us here at how of money. Yeah.

1112
00:48:15,600 --> 00:48:19,480
Speaker 1: Sometimes again, where there's the classic personal finance way of

1113
00:48:19,520 --> 00:48:22,640
Speaker 1: talking to people is like stop buying everything, don't buy anything,

1114
00:48:22,960 --> 00:48:24,799
Speaker 1: you know, only drive a twenty five year old used car.

1115
00:48:24,840 --> 00:48:26,680
Speaker 1: And there are certain things like we're hardcore on you

1116
00:48:26,719 --> 00:48:29,319
Speaker 1: and we do drive older used cars. We have one car,

1117
00:48:29,560 --> 00:48:32,000
Speaker 1: and that's something that we're one car fa we're pretty into.

1118
00:48:32,080 --> 00:48:33,560
Speaker 1: But then there are other things where it's like people

1119
00:48:33,560 --> 00:48:35,759
Speaker 1: would be like, oh, really, you bought a two hundred

1120
00:48:35,800 --> 00:48:37,319
Speaker 1: dollar jacket. I would have thought you've been wearing something

1121
00:48:37,320 --> 00:48:38,719
Speaker 1: from the thrift store and it's like, no, well, that

1122
00:48:38,760 --> 00:48:40,239
Speaker 1: jacket's going to last me a long time and I

1123
00:48:40,239 --> 00:48:40,759
Speaker 1: really like it.

1124
00:48:40,800 --> 00:48:43,040
Speaker 2: So yeah, but it's really important for me to have

1125
00:48:43,040 --> 00:48:44,719
Speaker 2: a down jacket so I can stay warm in the winter.

1126
00:48:44,920 --> 00:48:46,880
Speaker 2: I spend a lot of time outside, yeah, and on

1127
00:48:46,920 --> 00:48:47,479
Speaker 2: the bike riding.

1128
00:48:47,600 --> 00:48:49,480
Speaker 1: So yeah, those are the kind of things that like,

1129
00:48:49,560 --> 00:48:52,239
Speaker 1: they're going to be different for each of us as individuals,

1130
00:48:52,239 --> 00:48:54,440
Speaker 1: but they're important for us to think through exactly.

1131
00:48:54,520 --> 00:48:56,719
Speaker 2: That's right, man. All right, So the beer you and

1132
00:48:56,760 --> 00:48:59,600
Speaker 2: I enjoyed today was Song of Winter. This is a

1133
00:48:59,680 --> 00:49:04,760
Speaker 2: chocolate stout brood with fresh cocoa nibs by Hill Farmstead Brewery.

1134
00:49:04,760 --> 00:49:06,000
Speaker 2: What were your thoughts on this beer?

1135
00:49:06,120 --> 00:49:09,239
Speaker 1: Yeah, so, honestly, it made me think of Monday's Beer

1136
00:49:09,280 --> 00:49:11,279
Speaker 1: a whole lot the IPA that we had in the

1137
00:49:11,280 --> 00:49:13,880
Speaker 1: fact that it was kind of just a basic style,

1138
00:49:14,040 --> 00:49:17,319
Speaker 1: like nothing over the top, but it was well executed.

1139
00:49:17,440 --> 00:49:20,880
Speaker 1: It was just a great example of kind of like

1140
00:49:20,880 --> 00:49:23,120
Speaker 1: a milk stout. This is definitely what the vibe was

1141
00:49:23,160 --> 00:49:23,440
Speaker 1: going on.

1142
00:49:23,640 --> 00:49:25,960
Speaker 2: Yeah, dude, I totally agree with you there because it

1143
00:49:26,000 --> 00:49:29,120
Speaker 2: was like it was super toasty and roasty, but simultaneously

1144
00:49:29,120 --> 00:49:33,000
Speaker 2: it wasn't too acidic, Like it was really smooth and

1145
00:49:33,040 --> 00:49:35,399
Speaker 2: oftentimes you find that in a milk style there's kind

1146
00:49:35,400 --> 00:49:37,279
Speaker 2: of be lactose in there. Right, it doesn't say it's

1147
00:49:37,320 --> 00:49:38,400
Speaker 2: that there's a milk stout at all.

1148
00:49:38,440 --> 00:49:40,440
Speaker 1: Okay, well, it tastes like that to me, and but

1149
00:49:40,480 --> 00:49:42,560
Speaker 1: it also is just one of those things where it's

1150
00:49:43,040 --> 00:49:46,360
Speaker 1: it's basic in its approach, but it's really really well done.

1151
00:49:46,400 --> 00:49:48,920
Speaker 1: And so yeah, I'd say it was clean and delicious.

1152
00:49:49,280 --> 00:49:51,880
Speaker 1: And it's still stout season where we are here in Atlanta,

1153
00:49:51,880 --> 00:49:54,839
Speaker 1: it's still it's still somewhat cold, so Chiley, Yeah, I did.

1154
00:49:54,960 --> 00:49:56,839
Speaker 2: I think it counts as winter for sure. But yeah,

1155
00:49:56,880 --> 00:50:00,480
Speaker 2: So these were the first two Hill Farmstead ears that

1156
00:50:00,480 --> 00:50:04,080
Speaker 2: we've ever had, and I will say they were most excellent.

1157
00:50:04,080 --> 00:50:06,319
Speaker 2: They're very good, but they didn't at the same time,

1158
00:50:06,360 --> 00:50:09,399
Speaker 2: they didn't completely blow my socks off like Fiden's did.

1159
00:50:09,640 --> 00:50:11,880
Speaker 2: Those are the beers we had last week, Yeah, Monday

1160
00:50:11,920 --> 00:50:14,880
Speaker 2: and Wednesday. Wednesday's beers from last week that Michael and

1161
00:50:14,920 --> 00:50:18,440
Speaker 2: Emily donated as well, those big beers completely, I mean

1162
00:50:18,480 --> 00:50:21,200
Speaker 2: they blew us both away. Yeah, they were mind blowing.

1163
00:50:21,200 --> 00:50:23,279
Speaker 1: Well, Hill Farm said has apparently some of the best

1164
00:50:23,320 --> 00:50:25,399
Speaker 1: way and these, by the way, are totally so good.

1165
00:50:25,560 --> 00:50:26,279
Speaker 2: They're very good.

1166
00:50:26,360 --> 00:50:27,920
Speaker 1: But I think some of their barrel age hours are

1167
00:50:27,960 --> 00:50:31,360
Speaker 1: maybe the most I think Hill Farm said, so maybe

1168
00:50:31,520 --> 00:50:33,359
Speaker 1: one of these days will grab one of those, that's

1169
00:50:33,360 --> 00:50:35,080
Speaker 1: the goal. I mean, I would totally I would give

1170
00:50:35,080 --> 00:50:36,719
Speaker 1: these an A. But the beers last week were like

1171
00:50:36,760 --> 00:50:37,400
Speaker 1: a plus plus.

1172
00:50:37,480 --> 00:50:39,880
Speaker 2: Yeah, oh yeah, agreed for sure. Actually I would give

1173
00:50:39,920 --> 00:50:42,040
Speaker 2: this ano a plus. It's just last week was just

1174
00:50:42,120 --> 00:50:43,799
Speaker 2: over the top. It was way more than I think

1175
00:50:43,880 --> 00:50:47,120
Speaker 2: either of us were expecting. But incredibly appreciative to again

1176
00:50:47,160 --> 00:50:49,600
Speaker 2: Michael and Emily for sending these our away. For sure.

1177
00:50:49,680 --> 00:50:51,319
Speaker 1: That's going to do it for this episode. If you

1178
00:50:51,320 --> 00:50:53,239
Speaker 1: want show notes, you can go to our website at

1179
00:50:53,239 --> 00:50:56,719
Speaker 1: howtomoney dot com and as always, you can find the

1180
00:50:56,760 --> 00:50:58,560
Speaker 1: best credit card for you at how to money dot

1181
00:50:58,560 --> 00:51:01,200
Speaker 1: com slash credit cards. But Matt, that's going to do

1182
00:51:01,239 --> 00:51:04,759
Speaker 1: it until next time. Best Friends Out, Best Friends out