WEBVTT - Friday Flight - Frustrating Funflation, Money Morons, & Home Haters #1176

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<v Speaker 1>Welcome to How to Money. I'm Joel and I am Matt.

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<v Speaker 1>Today we're talking frustrating funflation, money morons and home haters.

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<v Speaker 2>Joel. In the video, I was holding up my shirt.

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<v Speaker 2>I've got my fun Time vacation shirt on for our

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<v Speaker 2>Friday flight today. It looks like, well, I like it.

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<v Speaker 1>It makes me think you're going to Fiji after this

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<v Speaker 1>or something?

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<v Speaker 2>Is that happening? This is like, it's my summertime. I'm

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<v Speaker 2>a vacation shirt. So it feels a little weird psychologically

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<v Speaker 2>wearing it right now while we are working. But I

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<v Speaker 2>realized I only wore once this past summer. This unfortunately,

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<v Speaker 2>the summer is coming to an end. Man. Yeah, it's

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<v Speaker 2>like the kids are back in school, so where we

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<v Speaker 2>are yet? You know school started up this week, we

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<v Speaker 2>start and lee where we are. Most people are like, uh,

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<v Speaker 2>we don't start for like three more weeks, guys. Yeah.

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<v Speaker 2>Is it the labor day? A lot of times folks

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<v Speaker 2>to get start after labor Day. That's not how they

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<v Speaker 2>do it down here in this out anyway, Like ten

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<v Speaker 2>percent of our of our school year in by men.

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<v Speaker 2>I know. Yeah, I wanted to wear my vacation shirt

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<v Speaker 2>because it felt like it was appropriate, I guess for

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<v Speaker 2>today's episode because I wanted to get one more wear in.

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<v Speaker 2>It's just so soft and it's got palm trees and

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<v Speaker 2>stuff on it too. This looks good. I like how

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<v Speaker 2>you'd like that.

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<v Speaker 1>All right, let's we got a bunch of good stuff

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<v Speaker 1>to get today on today's Friday flight. But I just

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<v Speaker 1>briefly wanted to respond to a listener email, and I

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<v Speaker 1>think listener Ali made some great points. You and I

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<v Speaker 1>had talked about long term disability on an episode that

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<v Speaker 1>came out a couple of weeks ago, and long term

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<v Speaker 1>term disability insurance.

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<v Speaker 2>Oh yeah.

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<v Speaker 1>One of the things that you and I had talked about,

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<v Speaker 1>maybe maybe a little too flippantly, was if you are

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<v Speaker 1>a brain worker, like if we were, like we're podcasters, Like,

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<v Speaker 1>what could happen to us that we wouldn't be able

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<v Speaker 1>to make an income? And the truth is, like if

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<v Speaker 1>we got taken out of the legs, Matt, like, we

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<v Speaker 1>could still do this job. But then there are we

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<v Speaker 1>didn't give enough credence.

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<v Speaker 2>They missed my mouth.

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<v Speaker 1>Right right exactly, But there are things that could happen

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<v Speaker 1>that would really cause us not to be able to

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<v Speaker 1>do work in the way that we've been become accustomed

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<v Speaker 1>to and potentially even like disallow us from podcasting, right,

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<v Speaker 1>some sort of degenerative disease or some sort of cancer, right,

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<v Speaker 1>And so Ali pointed that out. I appreciated her pointing

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<v Speaker 1>out that out. In her email, she talked about her

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<v Speaker 1>aunt who was like a high powered lawyer and because

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<v Speaker 1>of a disability like it and not having disability insurance,

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<v Speaker 1>long term disability insurance in particular, like a completely just

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<v Speaker 1>a sad ending as her aunt ended up passing away,

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<v Speaker 1>and just what the impact it had on the family.

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<v Speaker 1>It made me rethink, like, after our conversation, maybe I

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<v Speaker 1>think she's right. I think we were just a little

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<v Speaker 1>too flippant with that. I think more people, even knowledge workers,

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<v Speaker 1>even brain workers, should should consider having long term disability.

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<v Speaker 1>It's not just for people like working in the coal mines.

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<v Speaker 2>If people should that, do people still work in the

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<v Speaker 2>coal mines? I can only picture Derek Zoolander. You know,

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<v Speaker 2>it made me think of the is it the I'm

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<v Speaker 2>sure people do one of the Social Security offices where

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<v Speaker 2>the files are stored literally in an old salt mine.

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<v Speaker 2>And by the way, this is our Friday flight where

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<v Speaker 2>we talk about stories, So we actually will get to

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<v Speaker 2>a social security story later on during the episode. But yes,

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<v Speaker 2>especially with her, well, I like what she said. She said,

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<v Speaker 2>it's not a bron versus brain sort of mentality that

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<v Speaker 2>you should take when it comes to long term disability.

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<v Speaker 2>And that was an older episode that was the best eat.

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<v Speaker 2>But I think there's no way that we didn't talk

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<v Speaker 2>about how folks are like three to four times more

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<v Speaker 2>likely to become disabled than they are to die during

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<v Speaker 2>their working career, because those are the stats. And I've

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<v Speaker 2>got to think we said that. I didn't listen back

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<v Speaker 2>to that episode all the way to hear whether or

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<v Speaker 2>not we did, But I do think in her case,

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<v Speaker 2>she experience got to see a first hand how this

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<v Speaker 2>wrecked some family members, and you just experience it just

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<v Speaker 2>feels a bit more real when you experienced it that way.

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<v Speaker 2>But at the end, I completely empathize with her in

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<v Speaker 2>that you still have to look at the numbers though,

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<v Speaker 2>and with the likelihood of you needing to use something

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<v Speaker 2>like that right because on one of the end of

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<v Speaker 2>the spectrum, you ensure for nothing and you're taking, you're

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<v Speaker 2>shouldering all the risk yourself. At the other end of

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<v Speaker 2>the spectrum, you could ensure against everything, pay all the premiums,

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<v Speaker 2>and you're gonna end up broke, especially long term disability.

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<v Speaker 2>Like the premiums are really expensive. You we're between one

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<v Speaker 2>and three percent of your anal salary, and so risk

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<v Speaker 2>tolerance comes into play. Here's what you're saying, Yeah, you

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<v Speaker 2>definitely have to take that into account. And so so

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<v Speaker 2>this is more about I guess whether or whether or

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<v Speaker 2>not you want to take on those long term disability payments,

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<v Speaker 2>and just I mean, yeah, you start to add up

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<v Speaker 2>those monthly premiums and then you start thinking, okay, so

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<v Speaker 2>that's specific to whatever the exclusions might be included as

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<v Speaker 2>part of that long term disability plan as opposed to

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<v Speaker 2>and this is something that I've done, is just like, hey,

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<v Speaker 2>can I instead take those dollars, invest those dollars aggressively

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<v Speaker 2>over the years, and then you've got yourself a decent

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<v Speaker 2>little nest egg that you can do anything with. Right,

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<v Speaker 2>If you hit hard times, then you can use that

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<v Speaker 2>to help you through that. If you don't it this

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<v Speaker 2>hard times, then you can use that those funds. You

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<v Speaker 2>can give that money away, you can go on a

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<v Speaker 2>nice vacation, you can fund your kids college and so

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<v Speaker 2>there's just additional avenues for that money to go, as

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<v Speaker 2>opposed to one way premiums towards an insurance company when

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<v Speaker 2>you're hoping that you don't ever have to take advantage

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<v Speaker 2>of that insurance, but obviously it's there just in case

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<v Speaker 2>you do.

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<v Speaker 1>And the closer you get to full financial independence and

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<v Speaker 1>just we know it's a spectrum, right, it's not a

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<v Speaker 1>once or all or nothing thing. But the further you

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<v Speaker 1>get along that spectrum, the less likely.

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<v Speaker 2>You need it.

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<v Speaker 1>Right, Because you're more self insured, you're more self insured,

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<v Speaker 1>and that is something that we push people towards in

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<v Speaker 1>more areas that their life. As insurance becomes more expensive,

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<v Speaker 1>it feels like there are more kinds of insurance that

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<v Speaker 1>are being pushed on us, and we have to be

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<v Speaker 1>really careful about how much we're spending on insurance. Some point,

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<v Speaker 1>some insurance products are like crucial homeowner's insurance, right, But

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<v Speaker 1>can we even in that self insure more. Maybe long

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<v Speaker 1>term disability for is more important, and you've got to

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<v Speaker 1>spend the money for a few years until you've built

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<v Speaker 1>up a significant enough ness eg To feel like you

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<v Speaker 1>are self insured to the point where you don't need it.

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<v Speaker 1>But it's just it's at least worth considering. And I

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<v Speaker 1>do think she made some great points. It was worth

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<v Speaker 1>bringing it.

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<v Speaker 2>Up totally, So we give the story to make Yeah,

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<v Speaker 2>she made some good points. I was gonna say, you

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<v Speaker 2>saying that, maybe also think of context. It's not just

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<v Speaker 2>about how much risk you're willing to take on yourself

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<v Speaker 2>a context and whether or not. Let's say you are married.

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<v Speaker 2>Let's see you've got a partner. What is their ability

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<v Speaker 2>to go out there and become the main breadwinner? Right,

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<v Speaker 2>maybe it's you, But if they have the ability to

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<v Speaker 2>do that, Okay, well then maybe Okay, let's say maybe

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<v Speaker 2>you have kids. Does that mean then maybe your you

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<v Speaker 2>switch rolls a little bit? Right? If they don't have

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<v Speaker 2>the ability to go out there work, Okay, that's a

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<v Speaker 2>scenario that is a very context specific sort of question

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<v Speaker 2>to ask as to whether or not it becomes more

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<v Speaker 2>or less necessary or.

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<v Speaker 1>Is there income discrepancy between the partners where the standard

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<v Speaker 1>of living would fall significantly?

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<v Speaker 2>Right?

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<v Speaker 1>So, yeah, there's all of these contextualized realities. It's not

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<v Speaker 1>an easy peasy decision like sure, let me get this

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<v Speaker 1>really expensive insurance or no, I don't need it because

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<v Speaker 1>I work with my brain.

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<v Speaker 2>It's it's a lot more involved than that. That's true.

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<v Speaker 2>All right, you're talking about groceries. Oh one of my

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<v Speaker 2>favorite time to kick it off one because I love

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<v Speaker 2>to eat. I like good food. Yeah.

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<v Speaker 1>I had some actually reheated smoked pork but that I

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<v Speaker 1>made this week.

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<v Speaker 2>Oh it was delicious. How do you reheat it? Do

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<v Speaker 2>you you do like fried rice style? Or you just

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<v Speaker 2>kill it? Baby? Yeah? Yeah, that's what you get it

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<v Speaker 2>all crispy. Okay, So this was a I don't even

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<v Speaker 2>know where this story was. Was this some business insider?

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<v Speaker 2>But basically they're talking about NBC, CNBCNBC, Sorry about that, CNBC. Essentially,

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<v Speaker 2>so the key takeaway on this one. They were talking

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<v Speaker 2>about how the number of essentially consumer goods that you

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<v Speaker 2>buy in the grocery store are down compared to last year.

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<v Speaker 2>Some of that has to do probably a lot of

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<v Speaker 2>it has to do with inflation, but people are buying

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<v Speaker 2>something like two percent fewer groceries and you're.

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<v Speaker 1>Good like like items, yeah, like like ues. Essentially, is

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<v Speaker 1>this is this money saving related? Is this o zempic related,

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<v Speaker 1>Matt like or is this kind of.

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<v Speaker 2>I So to me, this feels more like a business

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<v Speaker 2>story as opposed to personal finance, right, because I hear

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<v Speaker 2>two percent one point eight to be exact, and I'm like, okay,

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<v Speaker 2>to me, that doesn't seem like a big deal. Especially

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<v Speaker 2>and this is immediately immediately where my mind went, especially

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<v Speaker 2>when you consider the amount of food way there are

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<v Speaker 2>in American households thirty to forty percent. The EPA estimates

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<v Speaker 2>up to fifty percent of groceries are lost to waste,

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<v Speaker 2>just like household food waste, and so on one hand,

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<v Speaker 2>I'm like one point eight. I'm sure from a business perspective,

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<v Speaker 2>they're saying, oh, how do we get you know, how

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<v Speaker 2>do we get our sales back up? People are buying

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<v Speaker 2>fewer items. But for me, I see this and I think, well,

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<v Speaker 2>on an individual level at least, I think there are

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<v Speaker 2>just other levers that we can pull when it comes

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<v Speaker 2>to ensuring that you're not throwing away jel, you reheated

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<v Speaker 2>that pork butt or whatever, But what about the slimy

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<v Speaker 2>the slimy greens and the curtain in the bottom of

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<v Speaker 2>the produce bind that you've got in your fridge? Yeah?

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<v Speaker 1>Yeah, well that's have you eaten those? That's what we're

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<v Speaker 1>talking about here far like you have many of those

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<v Speaker 1>right now, but if I did, I would probably eat them.

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<v Speaker 1>That's when I go to buy veggies or fruit. I

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<v Speaker 1>don't know, I'm weird. Ask my daughters like about the

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<v Speaker 1>expiration date for what I'm buying.

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<v Speaker 2>I will like lift up.

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<v Speaker 1>At Costco, you know, in the in the cooler section,

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<v Speaker 1>I will like lift up twelve boxes to get to

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<v Speaker 1>the strawberries that are just a couple of days fresher,

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<v Speaker 1>because and I mean they they like turn away and disgust.

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<v Speaker 2>They're like, this is my dad, it's the same batch.

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<v Speaker 2>I don't know if it's like at Costco, like if

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<v Speaker 2>if they're in the same giant horb cardboard box. These

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<v Speaker 2>are processed of some giant conveyor belt and the berries

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<v Speaker 2>that are in the container at the bottom of the box.

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<v Speaker 2>I don't think like five minutes newer.

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<v Speaker 1>But the spinach, the spinach man, sometimes there's like six, seven,

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<v Speaker 1>eight days where the expiration date is is different in

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<v Speaker 1>different boxes. Really spinish, oh yeah, pay attention man and

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<v Speaker 1>Spanish thinking about spinich. That's one of those things that

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<v Speaker 1>like if you're like, if it hits the expiration date,

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<v Speaker 1>it could be pretty nasty at.

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<v Speaker 2>That point, yeah, you don't know for sure, you don't

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<v Speaker 2>want anyway. That's that's just where my head went, which

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<v Speaker 2>is uh, I guess a recommendation, not a recommendation, just

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<v Speaker 2>my advice that would be to find ways to like

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<v Speaker 2>one point a, that's one thing. But on the other hand,

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<v Speaker 2>I'm thinking of different ways that at home we can

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<v Speaker 2>waste less food by following recipes. If you're not so

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<v Speaker 2>inclined to under you know, to be able to cook

0:11:13.400 --> 0:11:15.800
<v Speaker 2>just like shooting from the hip at home, maybe that

0:11:15.840 --> 0:11:18.720
<v Speaker 2>means bash cooking once. Gosh, you and Emily have done

0:11:18.720 --> 0:11:20.600
<v Speaker 2>a lot of this with like don't you you'd like

0:11:20.600 --> 0:11:23.560
<v Speaker 2>smoke chickens every Sunday, but just cooking multiple meals all

0:11:23.600 --> 0:11:26.240
<v Speaker 2>at once, freezing them. If that's a way for you

0:11:26.320 --> 0:11:30.400
<v Speaker 2>to not waste food or eating leftovers, actually eating the

0:11:30.400 --> 0:11:33.200
<v Speaker 2>food that you've made so that just doesn't end up

0:11:33.200 --> 0:11:33.800
<v Speaker 2>in the trash. Can.

0:11:34.000 --> 0:11:36.560
<v Speaker 1>I think one of the other culprits too, is that

0:11:36.600 --> 0:11:38.400
<v Speaker 1>people are just eating out more. And we've seen this

0:11:38.480 --> 0:11:42.080
<v Speaker 1>right and left right that it's easier. The crossover happened

0:11:42.080 --> 0:11:44.960
<v Speaker 1>a few years ago that people spend more eating out

0:11:45.000 --> 0:11:47.600
<v Speaker 1>than they do on groceries, and it's not coming back like,

0:11:47.880 --> 0:11:49.720
<v Speaker 1>and this is a way that we spend more money,

0:11:50.040 --> 0:11:52.160
<v Speaker 1>and this is a reason why we're seeing people buying

0:11:52.200 --> 0:11:54.480
<v Speaker 1>less food at the grocery store. You can blame it

0:11:54.520 --> 0:11:57.560
<v Speaker 1>on inflation. I'm blaming it on lifestyle choice for most people,

0:11:57.600 --> 0:12:00.319
<v Speaker 1>and they're saying, I'd rather spend money eating out, even

0:12:00.360 --> 0:12:02.199
<v Speaker 1>if it costs a lot more. So I'm buying less

0:12:02.200 --> 0:12:04.080
<v Speaker 1>stuff at the grocery store because I'm making less stuff

0:12:04.080 --> 0:12:06.200
<v Speaker 1>at home. And ultimately, this is a decision that's going

0:12:06.240 --> 0:12:09.040
<v Speaker 1>to impact your budget. So be careful how much money

0:12:09.160 --> 0:12:11.960
<v Speaker 1>you spend eating out. Yeah, you might buy fewer groceries,

0:12:12.040 --> 0:12:14.080
<v Speaker 1>but ultimately it's raising your food budget overall.

0:12:14.400 --> 0:12:17.600
<v Speaker 2>Totally. Yeah. So there's on that note of groceries, there's

0:12:17.760 --> 0:12:19.920
<v Speaker 2>a survey that showed that more folks are using their

0:12:19.960 --> 0:12:23.000
<v Speaker 2>cash back and some of the different like credit card

0:12:23.080 --> 0:12:27.479
<v Speaker 2>benefits that they receive to pay for necessities like groceries.

0:12:27.720 --> 0:12:30.400
<v Speaker 2>And I think the article is trying to position this

0:12:30.440 --> 0:12:34.040
<v Speaker 2>as like, isn't this terrible, But Joel, I'm gonna take

0:12:34.559 --> 0:12:37.920
<v Speaker 2>the story and spend it a little bit because I

0:12:37.960 --> 0:12:43.760
<v Speaker 2>think this is just an argument for the fact that

0:12:43.960 --> 0:12:47.719
<v Speaker 2>money is just perfectly fungible and it makes me think

0:12:47.760 --> 0:12:50.320
<v Speaker 2>that maybe there's a certain subset of folks out there

0:12:50.320 --> 0:12:53.520
<v Speaker 2>who are realizing that, like, oh, I'm getting a little

0:12:53.559 --> 0:12:55.640
<v Speaker 2>more responsible with how I'm spending. I used to always

0:12:55.720 --> 0:12:57.480
<v Speaker 2>use my points and kind of ear market for a

0:12:57.559 --> 0:13:00.280
<v Speaker 2>trip for vacation, which there's nothing wrong with that, But

0:13:00.400 --> 0:13:03.240
<v Speaker 2>if you realize that, I think I actually do want

0:13:03.240 --> 0:13:05.480
<v Speaker 2>to get a little more intentional with my spending. You

0:13:05.520 --> 0:13:08.480
<v Speaker 2>take this points, you take the statement credit, you used

0:13:08.480 --> 0:13:12.880
<v Speaker 2>it to offset you're monthly spending from the last statement,

0:13:13.440 --> 0:13:17.360
<v Speaker 2>and then you can, I don't know, attack let's say

0:13:17.360 --> 0:13:20.320
<v Speaker 2>a vacasion a little more thoughtfully, as opposed to like,

0:13:20.720 --> 0:13:23.640
<v Speaker 2>I don't know, kind of like blow it on the dice,

0:13:24.200 --> 0:13:27.760
<v Speaker 2>rolling it. See what happens opening your points within the

0:13:27.800 --> 0:13:30.160
<v Speaker 2>credit card portal and seeing what you got and what

0:13:30.200 --> 0:13:32.120
<v Speaker 2>your money You're like, I'm going to Vegas.

0:13:32.480 --> 0:13:34.760
<v Speaker 1>Yeah, oh man, now I'm gonna spend even more because

0:13:35.160 --> 0:13:38.000
<v Speaker 1>I'm going to waste my money gambling. I think you're right,

0:13:38.040 --> 0:13:40.400
<v Speaker 1>Like I have no problem with people using I think

0:13:40.800 --> 0:13:44.160
<v Speaker 1>for many people we're down. Like if you want to

0:13:44.160 --> 0:13:46.839
<v Speaker 1>play the system and you pay off your balance in

0:13:46.920 --> 0:13:49.640
<v Speaker 1>full and on time every single month, like go for it.

0:13:49.640 --> 0:13:51.559
<v Speaker 1>The travel credit cards, there's some really good ones out

0:13:51.559 --> 0:13:55.319
<v Speaker 1>there that was to chase Afire Prefer just how to

0:13:55.400 --> 0:13:57.679
<v Speaker 1>really awesome sign up books. And if you're going to

0:13:57.720 --> 0:13:59.200
<v Speaker 1>meet the terms and you're not going to spend more

0:13:59.240 --> 0:14:01.839
<v Speaker 1>than you should, like, that's a worthwhile card to have

0:14:01.920 --> 0:14:04.200
<v Speaker 1>in your wallet, especially if you're a heavy traveler. But

0:14:04.480 --> 0:14:08.560
<v Speaker 1>I think for most people, keeping it simpler and more

0:14:08.559 --> 0:14:11.720
<v Speaker 1>basic is probably the best way to go. And so

0:14:11.760 --> 0:14:14.960
<v Speaker 1>whether that's a statement credit, whether that's like using the

0:14:15.080 --> 0:14:18.240
<v Speaker 1>cash back to kind of pay make it cheaper for

0:14:18.280 --> 0:14:20.720
<v Speaker 1>your your grocery built to kind of subsidize your grocery build,

0:14:20.720 --> 0:14:22.480
<v Speaker 1>if you want to think about it like that, that's great.

0:14:22.560 --> 0:14:24.520
<v Speaker 1>Part of it's yeah, like you said, it's fungible. Part

0:14:24.520 --> 0:14:26.280
<v Speaker 1>of it is in your approach, like how are you

0:14:26.320 --> 0:14:28.800
<v Speaker 1>thinking about where this money goes? And I think if

0:14:28.800 --> 0:14:31.400
<v Speaker 1>we're really sensitive about our grocery bill, putting some of

0:14:31.400 --> 0:14:34.680
<v Speaker 1>the money there, it might help it feel like groceries

0:14:34.680 --> 0:14:37.000
<v Speaker 1>cost a little bit less just because we're using a

0:14:37.000 --> 0:14:37.440
<v Speaker 1>credit card.

0:14:37.520 --> 0:14:38.120
<v Speaker 2>Intelligently.

0:14:38.320 --> 0:14:40.200
<v Speaker 1>The MX Blue Cash Prefer is one of the best

0:14:40.200 --> 0:14:42.120
<v Speaker 1>cards if you if you feel like your grocery bill

0:14:42.160 --> 0:14:44.240
<v Speaker 1>is too high too right, because you get that six

0:14:44.280 --> 0:14:48.440
<v Speaker 1>percent cash back on your groceries. So that's a credit

0:14:48.440 --> 0:14:50.720
<v Speaker 1>card can help. I guess if you use it appropriately

0:14:50.960 --> 0:14:52.960
<v Speaker 1>as well to kind of reduce how much you spend.

0:14:53.280 --> 0:14:56.480
<v Speaker 2>Yeah, six percent? Is it up on up to five

0:14:56.560 --> 0:14:59.720
<v Speaker 2>thousand and spending? I would say it's nine? Is it nine?

0:15:00.040 --> 0:15:01.680
<v Speaker 2>I think it's something like that. I could be up

0:15:01.720 --> 0:15:04.160
<v Speaker 2>it all I know. And this is revealing a little

0:15:04.160 --> 0:15:07.080
<v Speaker 2>bit about us and how much we spend on groceries.

0:15:07.080 --> 0:15:10.760
<v Speaker 2>But we tend to hit that mark around halfway through

0:15:10.800 --> 0:15:13.720
<v Speaker 2>the year. And it is now August and we have

0:15:13.800 --> 0:15:18.480
<v Speaker 2>officially spent that much money. Wow. No, it's six thousand,

0:15:18.480 --> 0:15:21.720
<v Speaker 2>by the way, six okay, six, not five? Yeah, no, nine,

0:15:22.040 --> 0:15:24.760
<v Speaker 2>And the price is right game. I would have won

0:15:24.800 --> 0:15:28.080
<v Speaker 2>that one, jeel. But in that case, yeah, I'm hopping over.

0:15:28.160 --> 0:15:31.800
<v Speaker 2>I do love the Amex Bluecash Preferred. But I literally,

0:15:32.080 --> 0:15:33.800
<v Speaker 2>as I was closing out last month, I told Kate,

0:15:33.840 --> 0:15:35.280
<v Speaker 2>I was just like, hey, I just noticed we're not

0:15:35.360 --> 0:15:38.560
<v Speaker 2>earning the six percent anymore on the groceries. Go ahead

0:15:38.600 --> 0:15:41.600
<v Speaker 2>and pull that card from your wallets through everything on

0:15:41.280 --> 0:15:42.560
<v Speaker 2>the on the robin Hood card.

0:15:42.920 --> 0:15:45.960
<v Speaker 1>But there was another article about just like premium credit cards,

0:15:45.960 --> 0:15:47.320
<v Speaker 1>and I think this is one of those things. We're

0:15:47.320 --> 0:15:49.000
<v Speaker 1>seeing more and more of them. We've talked about how

0:15:49.040 --> 0:15:51.760
<v Speaker 1>the the annual fees are going up and up and

0:15:51.800 --> 0:15:55.840
<v Speaker 1>up on these cards, and they're especially to like upper

0:15:55.840 --> 0:15:59.840
<v Speaker 1>middle class people. It feels like, Oh, I'm going to

0:15:59.840 --> 0:16:01.680
<v Speaker 1>get so much value out of this. Look at the

0:16:01.920 --> 0:16:04.120
<v Speaker 1>look at the sweet airport lounges. I'm going to be

0:16:04.160 --> 0:16:07.200
<v Speaker 1>able to go. I'm going to go into uh because

0:16:07.240 --> 0:16:09.360
<v Speaker 1>I have now this premium access and I get to

0:16:10.520 --> 0:16:12.760
<v Speaker 1>get a nice little beverage before my flight or something

0:16:12.800 --> 0:16:14.840
<v Speaker 1>like that. I think it's really important before people sign

0:16:14.920 --> 0:16:17.440
<v Speaker 1>up for those, though, Matt, to realize, well, to look

0:16:17.520 --> 0:16:19.560
<v Speaker 1>towards the past year, well, how many how many flights

0:16:19.600 --> 0:16:21.400
<v Speaker 1>did I take that I actually show up to the

0:16:21.440 --> 0:16:23.800
<v Speaker 1>airport pretty early? Am I hanging out at the airport?

0:16:24.080 --> 0:16:26.440
<v Speaker 1>Like my sister loves to hang out at the airport.

0:16:26.520 --> 0:16:30.080
<v Speaker 1>Those get the lounges, Oh yeah, dude, Yeah, But they

0:16:30.120 --> 0:16:32.800
<v Speaker 1>travel eight or nine times a year and they're getting

0:16:32.840 --> 0:16:36.040
<v Speaker 1>their way early. They're taking full advantage. It's worth every penny.

0:16:36.200 --> 0:16:39.840
<v Speaker 1>But for me, like who travels once a year, and

0:16:39.880 --> 0:16:41.600
<v Speaker 1>if I am, I've got kids in tow and stuff

0:16:41.640 --> 0:16:44.960
<v Speaker 1>like that, we're not getting their hours in advance with

0:16:44.960 --> 0:16:45.400
<v Speaker 1>the lounges.

0:16:45.400 --> 0:16:48.640
<v Speaker 2>It's just hours early getting a bloody Mary. Can I

0:16:48.640 --> 0:16:50.480
<v Speaker 2>get like a little Shirley temple for the kids too?

0:16:50.960 --> 0:16:53.040
<v Speaker 2>Exactly exactly? Oh my gosh.

0:16:53.280 --> 0:16:55.200
<v Speaker 1>No, it's like is it worth it for you and

0:16:55.240 --> 0:16:56.800
<v Speaker 1>how you live? And you got to kind of like,

0:16:57.800 --> 0:17:01.080
<v Speaker 1>don't just assume because it meets one or two requirements

0:17:01.200 --> 0:17:03.080
<v Speaker 1>or it's it's got one or two benefits that you like,

0:17:03.160 --> 0:17:05.679
<v Speaker 1>that it's still worth getting that card. Totally agree not

0:17:05.760 --> 0:17:09.600
<v Speaker 1>to mention the fact that folks get tempted into higher

0:17:09.640 --> 0:17:13.240
<v Speaker 1>levels of spending with brands that they don't even yeah,

0:17:13.320 --> 0:17:16.280
<v Speaker 1>necessarily frequent. Right, It's like, oh, you get a Peloton

0:17:16.560 --> 0:17:19.280
<v Speaker 1>the Peloton credit, and all of a sudden you're doing

0:17:19.320 --> 0:17:22.880
<v Speaker 1>business with Peloton when otherwise you're like, well, I kind

0:17:22.880 --> 0:17:23.760
<v Speaker 1>of just do that at home.

0:17:24.080 --> 0:17:24.480
<v Speaker 2>Stretch.

0:17:24.760 --> 0:17:27.439
<v Speaker 1>YouTube stretches that like that jol does. That's for that

0:17:27.480 --> 0:17:30.080
<v Speaker 1>are free on YouTube. I can look to them people

0:17:30.119 --> 0:17:30.639
<v Speaker 1>if you want them.

0:17:30.680 --> 0:17:34.480
<v Speaker 2>They're great. So that's the whole thing, actually being honest

0:17:34.480 --> 0:17:39.600
<v Speaker 2>with yourself and addressing or recognizing whether or not you

0:17:39.640 --> 0:17:42.600
<v Speaker 2>are being tempted into spending with like these luxury brands

0:17:42.600 --> 0:17:45.640
<v Speaker 2>when otherwise you might be perfectly happy with the way

0:17:45.640 --> 0:17:46.680
<v Speaker 2>that you had been spending.

0:17:47.119 --> 0:17:48.800
<v Speaker 1>Well, I just wanted this is another one of those

0:17:48.840 --> 0:17:51.680
<v Speaker 1>words that just got made up, you know, like, oh yeah,

0:17:51.920 --> 0:17:54.360
<v Speaker 1>I think this is it to make up new words.

0:17:54.680 --> 0:17:57.920
<v Speaker 1>It's funnish, Yeah, it's funnish, But dude, all the fun

0:17:57.920 --> 0:18:00.760
<v Speaker 1>stuff is more expensive, right, Like this was ad nauseam

0:18:00.760 --> 0:18:02.920
<v Speaker 1>what people talked about with the World Cup. It's so

0:18:03.119 --> 0:18:06.320
<v Speaker 1>expeditive and likes only the richest of the ritch can

0:18:06.359 --> 0:18:08.359
<v Speaker 1>go to some of these games. I saw even that

0:18:08.760 --> 0:18:11.760
<v Speaker 1>a few of the big name music acts are trying

0:18:11.760 --> 0:18:16.080
<v Speaker 1>to Like Coldplay was one of them. Charlie XCX. I

0:18:16.720 --> 0:18:18.359
<v Speaker 1>don't really know who that is except for the Brat

0:18:18.359 --> 0:18:20.080
<v Speaker 1>summer thing. I think that was her thing was that

0:18:20.160 --> 0:18:23.040
<v Speaker 1>last summer. But she they're trying to release like twenty

0:18:23.080 --> 0:18:27.240
<v Speaker 1>dollars seats, a very very small amount to curb kind

0:18:27.240 --> 0:18:29.760
<v Speaker 1>of how expensive it feels. But they're so like, think

0:18:29.760 --> 0:18:31.960
<v Speaker 1>about how many people go to a cold Plate show.

0:18:32.040 --> 0:18:34.680
<v Speaker 1>That's it's probably thirty thousand people at a Coldplay show.

0:18:34.960 --> 0:18:37.080
<v Speaker 1>I'm guessing they haven't announced, but I'm guessing it's like

0:18:37.640 --> 0:18:39.200
<v Speaker 1>two hundred tickets that are toenty bucks.

0:18:39.240 --> 0:18:40.879
<v Speaker 2>And everything else is still just to be able to

0:18:40.880 --> 0:18:43.320
<v Speaker 2>say that, like, hey guys, we release some of those affordable,

0:18:43.440 --> 0:18:46.880
<v Speaker 2>all the level tickets for the price conscious folks out

0:18:46.880 --> 0:18:47.680
<v Speaker 2>there exactly.

0:18:47.760 --> 0:18:49.840
<v Speaker 1>So I don't know that it's actually going to make

0:18:49.880 --> 0:18:52.320
<v Speaker 1>a difference in most people's lives, but man, it does

0:18:52.359 --> 0:18:54.320
<v Speaker 1>feel tough out there for people who want to have fun,

0:18:54.359 --> 0:18:58.480
<v Speaker 1>and it feels like experiences sporting events. Think about those

0:18:58.560 --> 0:19:02.280
<v Speaker 1>Nicks playoff tickets. How expensive those were? Concerts these days?

0:19:02.600 --> 0:19:05.280
<v Speaker 1>All of the flooding events, it's crazy expensive.

0:19:05.600 --> 0:19:08.719
<v Speaker 2>Yeah, So okay, My thoughts on this are that this

0:19:08.800 --> 0:19:11.320
<v Speaker 2>is a holdover and I hate to be the one

0:19:11.320 --> 0:19:13.760
<v Speaker 2>that's still banging this drum or whatever, but I feel

0:19:13.760 --> 0:19:17.040
<v Speaker 2>like this is still a holdover from the pandemic, right, Like,

0:19:17.160 --> 0:19:19.560
<v Speaker 2>first of all, you tell people that you can't hang

0:19:19.600 --> 0:19:21.639
<v Speaker 2>around other people because they're going to kill you, so

0:19:21.680 --> 0:19:23.720
<v Speaker 2>that does something to you. But then secondly, as the

0:19:23.760 --> 0:19:26.160
<v Speaker 2>economy shut down, the government's just like fire hosing cash

0:19:26.200 --> 0:19:29.080
<v Speaker 2>into people's checking accounts, and all of a sudden you

0:19:29.119 --> 0:19:31.040
<v Speaker 2>get to this because when did all the start, When

0:19:31.080 --> 0:19:34.200
<v Speaker 2>did these insane ticket prices? When did all this happen?

0:19:34.240 --> 0:19:37.200
<v Speaker 2>This was post pandemic, This was sort of the knee jerk,

0:19:37.359 --> 0:19:40.919
<v Speaker 2>the reflex of sort of corrective action, right, folks were

0:19:40.920 --> 0:19:42.760
<v Speaker 2>at home for a long time, and then then a

0:19:42.840 --> 0:19:44.600
<v Speaker 2>year later it's like, oh, wait a minute, now we've

0:19:44.600 --> 0:19:46.879
<v Speaker 2>got we've got more money than ever. We can go

0:19:46.920 --> 0:19:50.560
<v Speaker 2>to concerts. You see ticket prices skyrocketing like that. But

0:19:50.600 --> 0:19:53.080
<v Speaker 2>I think the big question is why has it continued?

0:19:53.600 --> 0:19:56.479
<v Speaker 2>And I think it's I think it's social connection at

0:19:56.520 --> 0:19:58.080
<v Speaker 2>the end of the day. But I feel like it's

0:19:58.119 --> 0:20:00.560
<v Speaker 2>two sides of the same coin, right, which is I

0:20:00.600 --> 0:20:04.440
<v Speaker 2>think more time, Like we're spending more more time atomized,

0:20:04.720 --> 0:20:07.359
<v Speaker 2>not hanging out with other people, not being in community,

0:20:07.520 --> 0:20:10.440
<v Speaker 2>not being a part of sort of like civic clubs

0:20:10.480 --> 0:20:13.520
<v Speaker 2>and the Putnam bowling alone. Right, this is that all

0:20:13.560 --> 0:20:17.680
<v Speaker 2>over again. And so there's a healthy part of Oh,

0:20:17.720 --> 0:20:19.800
<v Speaker 2>I want to go hang out with my friends, Let's

0:20:19.800 --> 0:20:22.040
<v Speaker 2>go to a concert. That's amazing, Like that's such a

0:20:22.040 --> 0:20:24.959
<v Speaker 2>great healthy thing to do. As we create these memories,

0:20:24.960 --> 0:20:26.600
<v Speaker 2>we have a ton of fun. I feel like this

0:20:26.640 --> 0:20:28.879
<v Speaker 2>is an argument that you can get behind, Joel. You

0:20:28.960 --> 0:20:30.800
<v Speaker 2>love going to concerts. It's a ton of fun for you.

0:20:31.040 --> 0:20:32.919
<v Speaker 2>But then the flip side of that is the fomo

0:20:33.280 --> 0:20:35.760
<v Speaker 2>side of things, where there's just like that anxiety that

0:20:35.800 --> 0:20:39.639
<v Speaker 2>goes into someone feeling like, oh, well, everyone's going to

0:20:39.680 --> 0:20:42.800
<v Speaker 2>the what coldplace you know concert or whatever the guy

0:20:42.840 --> 0:20:45.919
<v Speaker 2>from HR or the lady firmation of a reference to

0:20:45.960 --> 0:20:48.840
<v Speaker 2>that in the in the past spring, they're going, maybe

0:20:48.880 --> 0:20:49.560
<v Speaker 2>I should go too.

0:20:49.800 --> 0:20:52.240
<v Speaker 1>Nobody's starting that Matt that didn't get any viral attention.

0:20:52.280 --> 0:20:54.560
<v Speaker 1>I don't know what you're talking about, and like.

0:20:54.560 --> 0:20:56.600
<v Speaker 2>That to me feels like the sort of unhealthy side

0:20:56.600 --> 0:20:58.840
<v Speaker 2>of it as well. For both of those reasons, I

0:20:58.880 --> 0:21:03.600
<v Speaker 2>think that's part of why we've continued to see higher

0:21:03.640 --> 0:21:06.720
<v Speaker 2>ticket prices, whether it's concerts, whether it's sporting events. But

0:21:06.720 --> 0:21:10.200
<v Speaker 2>I'm assuming that you're probably down, you know, to maybe

0:21:10.240 --> 0:21:13.440
<v Speaker 2>spend a little bit more of your entertainment dollars towards

0:21:13.840 --> 0:21:15.280
<v Speaker 2>sporting events or to concerts.

0:21:15.359 --> 0:21:20.080
<v Speaker 1>Right, not really sporting events, but concerts, Yes, ish, because

0:21:20.080 --> 0:21:23.200
<v Speaker 1>I will say the price still matters as to whether

0:21:23.280 --> 0:21:24.760
<v Speaker 1>or not I'm gonna I'm gonna pay it. Like there's

0:21:24.760 --> 0:21:27.280
<v Speaker 1>a band that I liked that's coming in October, and

0:21:27.320 --> 0:21:30.760
<v Speaker 1>I was like, hmm, yeah, if it was like in

0:21:30.800 --> 0:21:33.359
<v Speaker 1>the fifty to sixty dollars range for ticket, I'm interested

0:21:33.400 --> 0:21:36.000
<v Speaker 1>to see them at that price point. But they're not

0:21:36.000 --> 0:21:37.920
<v Speaker 1>one of my all time faves. And so I think

0:21:37.920 --> 0:21:40.200
<v Speaker 1>tickets were like one hundred bucks. I'm like, yeah, no,

0:21:40.680 --> 0:21:43.720
<v Speaker 1>I'm not gonna do it. So I think we just

0:21:43.760 --> 0:21:45.399
<v Speaker 1>need to be willing to say no more often, Like

0:21:45.440 --> 0:21:48.120
<v Speaker 1>it makes me think about There was this article about

0:21:48.119 --> 0:21:50.560
<v Speaker 1>how now that Spirit Airlines has gone, people are taking

0:21:50.560 --> 0:21:51.879
<v Speaker 1>the bus more to get where they want to go.

0:21:52.560 --> 0:21:55.680
<v Speaker 1>I've ridden the megabus across the Southeast before. It saves

0:21:55.720 --> 0:21:57.520
<v Speaker 1>a lot of money. Like you love the buses.

0:21:57.680 --> 0:21:58.679
<v Speaker 2>Yeah, it's great, it's.

0:21:58.560 --> 0:22:00.159
<v Speaker 1>A great way to travel. I'm glad more people are

0:22:00.160 --> 0:22:04.119
<v Speaker 1>picking up on it. But it doesn't mean because just

0:22:04.160 --> 0:22:07.760
<v Speaker 1>because it's more expensive that you always have to say no.

0:22:08.240 --> 0:22:10.720
<v Speaker 1>You can just pick and choose and say listen, instead

0:22:10.720 --> 0:22:12.240
<v Speaker 1>of going to like eight concerts a year, I'm gonna

0:22:12.240 --> 0:22:13.800
<v Speaker 1>go to four. I'm gonna go to the ones that

0:22:14.359 --> 0:22:17.720
<v Speaker 1>I really really care about. Or instead of taking Spirit

0:22:17.760 --> 0:22:20.600
<v Speaker 1>air which is very relatively inexpensive, I'm gonna I'm gonna

0:22:20.640 --> 0:22:22.560
<v Speaker 1>take the bus. I'm still going to get there. I'm

0:22:22.640 --> 0:22:24.120
<v Speaker 1>just gonna find a way to do it for less.

0:22:24.680 --> 0:22:27.639
<v Speaker 1>And yeah, do I wish that concert tickets would go

0:22:27.680 --> 0:22:30.760
<v Speaker 1>down in price? Yeah, but is Ticketmaster in charge of

0:22:30.760 --> 0:22:33.080
<v Speaker 1>that world, and will concert tickets go down in price? No,

0:22:33.200 --> 0:22:36.199
<v Speaker 1>I'm a realist, So it's just yeah, it's just one

0:22:36.200 --> 0:22:38.040
<v Speaker 1>of those things. This is gonna, I think, probably annoy

0:22:38.119 --> 0:22:39.520
<v Speaker 1>us for years to come.

0:22:39.800 --> 0:22:42.680
<v Speaker 2>Yeah, okay, Well, speaking of buses, I know, I don't

0:22:42.720 --> 0:22:44.240
<v Speaker 2>know if you would are gonna like spend some time

0:22:44.280 --> 0:22:48.520
<v Speaker 2>talking about how great Mega bus is, but for meanwhile,

0:22:48.760 --> 0:22:51.920
<v Speaker 2>since I've ridden it, but remember it with fondness, I'm

0:22:51.960 --> 0:22:54.840
<v Speaker 2>just a snob. Man. I've never ridden on a bus,

0:22:54.920 --> 0:22:57.120
<v Speaker 2>and I think that my I think my bus riding

0:22:57.160 --> 0:22:58.920
<v Speaker 2>days are behind me. I mean I take that back

0:22:58.920 --> 0:23:00.840
<v Speaker 2>in college, like I would alway take the bus, right.

0:23:01.200 --> 0:23:05.880
<v Speaker 2>We had an awesome bus transit system at UGA, which

0:23:05.920 --> 0:23:10.359
<v Speaker 2>evidently stinks now evidently they've reduced the some of the

0:23:10.520 --> 0:23:12.879
<v Speaker 2>routes and stuff. And somebody told me recently they're like, oh, man,

0:23:12.920 --> 0:23:14.720
<v Speaker 2>nobody rides a bus anymore. I'm like, oh, it's too bad,

0:23:14.840 --> 0:23:17.280
<v Speaker 2>Like everybody used to ride the bus. That's just like

0:23:17.320 --> 0:23:19.560
<v Speaker 2>how we did it. Talk about relational connection, mass a

0:23:19.560 --> 0:23:21.080
<v Speaker 2>good place to hedy, dude, I'm telling you, like, can

0:23:21.119 --> 0:23:23.280
<v Speaker 2>you just strike up a conversation with someone random? Like

0:23:23.359 --> 0:23:26.440
<v Speaker 2>I literally would do that all the time. But as

0:23:26.440 --> 0:23:29.320
<v Speaker 2>far as traveling to other cities, they're talking folks who

0:23:29.240 --> 0:23:31.080
<v Speaker 2>were like, oh, yeah, I took a took a trip

0:23:31.119 --> 0:23:34.280
<v Speaker 2>from upstate Maine down to New York City or something

0:23:34.320 --> 0:23:37.639
<v Speaker 2>like that, and I'm just I think, I don't know.

0:23:38.080 --> 0:23:40.159
<v Speaker 2>I just have a hard time the visioning getting to

0:23:40.240 --> 0:23:43.400
<v Speaker 2>the bus stop, waiting getting on board with a bunch

0:23:43.440 --> 0:23:45.439
<v Speaker 2>of other folks. I feel like we're going more and

0:23:45.480 --> 0:23:47.880
<v Speaker 2>more in the doria. I just feel like we're going

0:23:47.880 --> 0:23:50.040
<v Speaker 2>more in the direction of uber and lyft. Right Like

0:23:50.200 --> 0:23:52.359
<v Speaker 2>that thing comes to me. Somebody needs to create like

0:23:52.400 --> 0:23:55.400
<v Speaker 2>an uber and lyft long haul or something like. I'm

0:23:55.440 --> 0:23:59.320
<v Speaker 2>sure you can do uber or lyft to another state,

0:23:59.359 --> 0:24:02.080
<v Speaker 2>but I don't know, that's probably gonna be a crazy expensive.

0:24:02.960 --> 0:24:04.840
<v Speaker 1>The prece point on some of those bus trips is

0:24:04.880 --> 0:24:08.480
<v Speaker 1>pretty pretty great, and some of the accommodations on the

0:24:08.480 --> 0:24:11.160
<v Speaker 1>buses look like they've gotten much much better. Like they've

0:24:11.160 --> 0:24:14.000
<v Speaker 1>got Wi Fi and they've got tables that face tables

0:24:14.040 --> 0:24:16.280
<v Speaker 1>in the middle of like two seats on either side,

0:24:16.280 --> 0:24:17.960
<v Speaker 1>so you can like create like a little cabinets or something.

0:24:18.000 --> 0:24:19.280
<v Speaker 2>Selah.

0:24:19.359 --> 0:24:21.480
<v Speaker 1>So, I mean, I know you're fancy, but there's a

0:24:21.520 --> 0:24:23.480
<v Speaker 1>lot of other folks out there who uh, you know,

0:24:23.880 --> 0:24:25.960
<v Speaker 1>men of the people like me, women of the people,

0:24:25.960 --> 0:24:26.520
<v Speaker 1>they'd be willing to.

0:24:26.600 --> 0:24:29.280
<v Speaker 2>Dude, I don't want to hear it. Tell me that

0:24:29.320 --> 0:24:31.840
<v Speaker 2>the next time you it's like a hostel. It's like

0:24:31.880 --> 0:24:33.719
<v Speaker 2>you being like hostels are the best, the best, and

0:24:33.760 --> 0:24:35.840
<v Speaker 2>like they are good for a certain period of time.

0:24:35.960 --> 0:24:37.840
<v Speaker 2>Like I'm so glad that when I was younger that

0:24:37.880 --> 0:24:40.800
<v Speaker 2>I stayed in plenty of hostels, sleeping in a room

0:24:40.800 --> 0:24:42.800
<v Speaker 2>with like twenty other people for the really cheap spot,

0:24:42.880 --> 0:24:44.960
<v Speaker 2>you know, And it's just it's rough. I've got some

0:24:45.000 --> 0:24:48.880
<v Speaker 2>great stories, great memories. But guess what are you staying

0:24:48.920 --> 0:24:50.879
<v Speaker 2>in a hostel anymore? When you travel with Emily or

0:24:50.920 --> 0:24:51.240
<v Speaker 2>your kids?

0:24:51.280 --> 0:24:54.399
<v Speaker 1>You're not same here right Like I'm place, but I

0:24:54.440 --> 0:24:56.639
<v Speaker 1>don't know if I'm beyond a bus trip yet.

0:24:56.920 --> 0:25:01.119
<v Speaker 2>Really, Okay, well, how about this maybe all time staying this,

0:25:01.240 --> 0:25:03.280
<v Speaker 2>and the next time you take a bus trip, you

0:25:03.320 --> 0:25:06.680
<v Speaker 2>let us know and we'll spend we'll spend plenty of

0:25:06.760 --> 0:25:09.639
<v Speaker 2>time talking about how wonderful it was, just what your

0:25:09.680 --> 0:25:12.240
<v Speaker 2>thoughts were for now, how much what you were able

0:25:12.280 --> 0:25:12.520
<v Speaker 2>to say?

0:25:12.640 --> 0:25:15.720
<v Speaker 1>We got more stories to get to. Okay, Americans, it

0:25:15.720 --> 0:25:17.760
<v Speaker 1>turns out, are only getting worse at personal finance mat

0:25:17.760 --> 0:25:20.960
<v Speaker 1>I don't know about you didn't surprise me. There's there's

0:25:21.000 --> 0:25:25.320
<v Speaker 1>this new TIAA survey and basically they found that financial

0:25:25.320 --> 0:25:28.080
<v Speaker 1>literacy has dropped to a ten year low. The average

0:25:28.080 --> 0:25:30.159
<v Speaker 1>score on their simple quiz and by the way I

0:25:30.200 --> 0:25:32.919
<v Speaker 1>went through it to take a look, was forty seven percent.

0:25:33.040 --> 0:25:35.480
<v Speaker 2>So did you take the quiz? Yeah?

0:25:35.560 --> 0:25:37.959
<v Speaker 1>Dude, it was so easy like it was. It was

0:25:38.000 --> 0:25:40.320
<v Speaker 1>not like because sometimes the Wall Street Journal will publish

0:25:40.400 --> 0:25:42.600
<v Speaker 1>articles and they're like, can you test can you try

0:25:42.600 --> 0:25:45.400
<v Speaker 1>this quiz out? And sometimes the answers can be misleading

0:25:45.400 --> 0:25:46.920
<v Speaker 1>and it feels like there's two right answers and they're

0:25:46.960 --> 0:25:49.160
<v Speaker 1>like you were wrong on that one. Yeah, But this

0:25:49.200 --> 0:25:52.080
<v Speaker 1>one was like it was something I would hope anybody

0:25:52.080 --> 0:25:55.879
<v Speaker 1>who graduates high school would know the vast majority of

0:25:55.880 --> 0:25:57.280
<v Speaker 1>these things, and they didn't.

0:25:57.880 --> 0:26:00.560
<v Speaker 2>They dropped from like fifty two out of forty seven yeah,

0:26:00.640 --> 0:26:02.560
<v Speaker 2>last year to this year. Right, it's just like, oh,

0:26:03.000 --> 0:26:05.520
<v Speaker 2>it's not great. I never heard of this thing. It

0:26:05.800 --> 0:26:09.200
<v Speaker 2>was called the Personal Finance Finance Index and I did

0:26:09.240 --> 0:26:12.200
<v Speaker 2>not take the quiz. I'll see how I do after

0:26:12.240 --> 0:26:13.000
<v Speaker 2>I sawn off with you.

0:26:13.200 --> 0:26:15.680
<v Speaker 1>Like part of me holds out this hope that personal

0:26:15.720 --> 0:26:18.959
<v Speaker 1>finance classes in high schools becoming mandatory is going to

0:26:19.000 --> 0:26:22.040
<v Speaker 1>help fix this problem. I also wonder you and I've

0:26:22.080 --> 0:26:25.000
<v Speaker 1>talked about, like, it's great that it's mandatory, but so

0:26:25.160 --> 0:26:28.000
<v Speaker 1>much of whether how effective these classes are going to

0:26:28.000 --> 0:26:30.600
<v Speaker 1>be depends on the teacher, depends on the curriculum. So

0:26:32.200 --> 0:26:34.359
<v Speaker 1>I would hope that these classes would make it a

0:26:34.400 --> 0:26:37.520
<v Speaker 1>goal that everyone going through those classes would be able

0:26:37.560 --> 0:26:39.800
<v Speaker 1>to get a minimum of like a ninety percent on

0:26:39.880 --> 0:26:42.360
<v Speaker 1>a test like this. And I do think these are

0:26:42.560 --> 0:26:45.000
<v Speaker 1>just some of the basic questions. We'll link to the

0:26:45.440 --> 0:26:47.359
<v Speaker 1>quiz in the show notes, but I feel like that

0:26:47.359 --> 0:26:49.240
<v Speaker 1>these are some basic questions that everyone should be able

0:26:49.520 --> 0:26:51.159
<v Speaker 1>to answer, and to see that people can't even get

0:26:51.160 --> 0:26:53.480
<v Speaker 1>fifty percent of them right is like, is harrowing. No

0:26:53.520 --> 0:26:54.720
<v Speaker 1>wonder people are bad with money.

0:26:55.000 --> 0:26:57.280
<v Speaker 2>Yeah, So on the note of quizzes and surveys, there's

0:26:57.280 --> 0:27:00.000
<v Speaker 2>another survey that said a third of folks have more

0:27:00.200 --> 0:27:04.320
<v Speaker 2>credit card debt than they do retirement savings, which was

0:27:04.320 --> 0:27:07.440
<v Speaker 2>pretty shocking. So the story led with that, and I thought,

0:27:07.480 --> 0:27:10.639
<v Speaker 2>there's I don't know, man, that seems maybe it's just

0:27:10.800 --> 0:27:13.199
<v Speaker 2>overblown or something like that, And I went digging through

0:27:13.240 --> 0:27:15.639
<v Speaker 2>the details a little bit, and I was thinking, okay,

0:27:15.680 --> 0:27:17.280
<v Speaker 2>I could pick I could totally picture a twenty two

0:27:17.359 --> 0:27:20.359
<v Speaker 2>year old. Are they going to have more credit card

0:27:20.440 --> 0:27:24.679
<v Speaker 2>debt than retirement savings? Absolutely? Yeah. I was disheartened to

0:27:24.680 --> 0:27:29.080
<v Speaker 2>see that they weren't serveying people as young as eighteen

0:27:29.240 --> 0:27:31.800
<v Speaker 2>or twenty two or even twenty five. It started at

0:27:32.160 --> 0:27:35.639
<v Speaker 2>thirty year olds, which that's when and allthough it's to

0:27:35.680 --> 0:27:38.040
<v Speaker 2>seventy nine year olds, and so a third of those

0:27:38.040 --> 0:27:41.720
<v Speaker 2>folks between age thirty and seventy nine have more credit

0:27:41.760 --> 0:27:45.040
<v Speaker 2>card debt than retirement savings. That's that's tough to stomach.

0:27:45.280 --> 0:27:47.240
<v Speaker 1>You gotta flip the script, Matt. People can't be having

0:27:47.240 --> 0:27:49.119
<v Speaker 1>ten thousand dollars in credit card debt in five thousand

0:27:49.119 --> 0:27:52.280
<v Speaker 1>dollars in their investments. And if you you know, to

0:27:52.320 --> 0:27:54.280
<v Speaker 1>get that kind of credit card debt racked up, it

0:27:54.280 --> 0:27:57.720
<v Speaker 1>takes time. It takes months, and to kind of write

0:27:57.720 --> 0:27:59.720
<v Speaker 1>the ship, it's going to take a while too. But

0:27:59.760 --> 0:28:01.399
<v Speaker 1>it's your're sure to get started to have a plan

0:28:01.840 --> 0:28:03.760
<v Speaker 1>to pay off the credit card debt and then to

0:28:04.000 --> 0:28:06.119
<v Speaker 1>get the full match in your formal Okay, you've got

0:28:06.160 --> 0:28:09.239
<v Speaker 1>to have like start making small decisions like you know what,

0:28:09.320 --> 0:28:11.520
<v Speaker 1>no takeout for the next three months while I'm paying

0:28:11.520 --> 0:28:15.920
<v Speaker 1>this credit card debt off intensively. They're just all sorts

0:28:15.960 --> 0:28:18.320
<v Speaker 1>of changes that you have to make both mentally and

0:28:18.359 --> 0:28:20.840
<v Speaker 1>then with where your money's going in order to be

0:28:20.920 --> 0:28:23.200
<v Speaker 1>able to fix that. Because I think for a lot

0:28:23.200 --> 0:28:26.080
<v Speaker 1>of people, they hear that, they're like, that's the situation

0:28:26.200 --> 0:28:29.200
<v Speaker 1>I'm in, they get despondent, and man, that's not gonna

0:28:29.240 --> 0:28:30.959
<v Speaker 1>help either. I think that we don't want to like

0:28:31.359 --> 0:28:34.480
<v Speaker 1>shame you and say you know you're you're an idiot,

0:28:34.480 --> 0:28:36.600
<v Speaker 1>can't believe you did that. This is like you are

0:28:36.680 --> 0:28:41.760
<v Speaker 1>in company with a third I guess of investing Americans,

0:28:42.080 --> 0:28:44.760
<v Speaker 1>so you're not alone. But there's changes that have to

0:28:44.800 --> 0:28:46.520
<v Speaker 1>be made so that you can get kind of back

0:28:46.560 --> 0:28:49.040
<v Speaker 1>on proper footing when it comes to your finances. That's right,

0:28:49.120 --> 0:28:50.760
<v Speaker 1>all right, let's take a quick break, man. We got

0:28:50.760 --> 0:28:53.160
<v Speaker 1>more to get to. Oh before I like do the

0:28:53.200 --> 0:28:55.080
<v Speaker 1>whole pitch, though, what I need to do is hop

0:28:55.120 --> 0:28:57.560
<v Speaker 1>over here to the sounder board and make sure I've

0:28:57.600 --> 0:28:59.800
<v Speaker 1>got that cued up. But we've got more to talk to.

0:29:00.280 --> 0:29:02.800
<v Speaker 2>For instance, we're gonna talk about Social Security running out

0:29:02.840 --> 0:29:05.560
<v Speaker 2>of money. We're gonna talk about people hating on homeownership.

0:29:05.560 --> 0:29:19.880
<v Speaker 2>We'll get all that more right after this. Grooming my mustache. Sorry, okay,

0:29:20.520 --> 0:29:24.440
<v Speaker 2>that's vanity right there. Keep it groomed. Oh do you

0:29:24.480 --> 0:29:26.520
<v Speaker 2>have any like bird nests growing up in Internet? Do

0:29:26.560 --> 0:29:30.800
<v Speaker 2>you have a mustache comb? Yeah? No, it's tiny scruble. Yeah.

0:29:31.280 --> 0:29:33.960
<v Speaker 2>Oh okay. I don't keep it in my pocket, but

0:29:33.960 --> 0:29:35.760
<v Speaker 2>I have it in my bathroom at home. Are you

0:29:35.800 --> 0:29:37.600
<v Speaker 2>gonna turn into one of these guys that has like

0:29:37.760 --> 0:29:40.520
<v Speaker 2>no mustache wax and you're like going to grow it out?

0:29:40.560 --> 0:29:42.560
<v Speaker 2>And do you remember when I used to have a

0:29:42.640 --> 0:29:45.560
<v Speaker 2>mustache parents, but not that much? Yes, I do. I

0:29:45.560 --> 0:29:47.680
<v Speaker 2>thought you had a great mustache. Your family disagreed, though,

0:29:48.040 --> 0:29:50.800
<v Speaker 2>thank you. I'm glad you appreciated it anytime I bring

0:29:50.800 --> 0:29:54.560
<v Speaker 2>it up. Well, first of all, Kate's like, well, you

0:29:54.640 --> 0:29:57.360
<v Speaker 2>both can't have mustaches. I think that's true, though that

0:29:57.480 --> 0:30:00.440
<v Speaker 2>kind of gives a different vibe to the show. I agree.

0:30:00.600 --> 0:30:02.960
<v Speaker 2>I think if we both did, people would be like two,

0:30:03.040 --> 0:30:05.280
<v Speaker 2>those guys are just too much. They overlapped too much. Yeah,

0:30:05.360 --> 0:30:07.520
<v Speaker 2>like our friend Dan, he's also got a great mustache.

0:30:07.600 --> 0:30:09.360
<v Speaker 2>But if he was your co host and you're both

0:30:09.360 --> 0:30:12.080
<v Speaker 2>sitting there with your then it looks silly. But if

0:30:12.080 --> 0:30:14.040
<v Speaker 2>one of us looks like me, one of us looks

0:30:14.040 --> 0:30:16.440
<v Speaker 2>like you, feels a little more appropriate. I was gonna say,

0:30:16.440 --> 0:30:18.440
<v Speaker 2>if you didn't have a mustache com I'd like get

0:30:18.480 --> 0:30:20.760
<v Speaker 2>you one for Christmas, or something like a nice tortoise shell.

0:30:22.200 --> 0:30:23.600
<v Speaker 2>I bet there's some nice ones out there that you

0:30:23.640 --> 0:30:27.520
<v Speaker 2>can get. I guarantee there are nice waxes, nice poems.

0:30:28.080 --> 0:30:29.560
<v Speaker 2>You got to talk about social security.

0:30:29.640 --> 0:30:31.320
<v Speaker 1>Yeah, let's get to the Ludacro's headline of the week.

0:30:31.320 --> 0:30:34.760
<v Speaker 1>This one comes from Yahoo Finance, and the headline says,

0:30:34.960 --> 0:30:37.200
<v Speaker 1>will social Security go broke in twenty thirty two?

0:30:37.800 --> 0:30:39.560
<v Speaker 2>Here's what's happening.

0:30:39.720 --> 0:30:44.920
<v Speaker 1>And the headline is frustrating, But it's more than anything.

0:30:45.520 --> 0:30:49.760
<v Speaker 1>What's happening with social security is frustrating. And this is

0:30:49.800 --> 0:30:51.840
<v Speaker 1>an update that kind of happened Matt while we were

0:30:51.880 --> 0:30:54.880
<v Speaker 1>out of town a few weeks ago. At this point

0:30:54.880 --> 0:30:56.600
<v Speaker 1>in time, we've talked about it. We had Mike Piper

0:30:56.640 --> 0:30:59.320
<v Speaker 1>on the show to talk about social security and the

0:30:59.360 --> 0:31:00.600
<v Speaker 1>state of social security.

0:31:00.840 --> 0:31:01.520
<v Speaker 2>The system in.

0:31:01.480 --> 0:31:05.240
<v Speaker 1>General is troubling, and our politicians are elected officials unwillingness

0:31:05.240 --> 0:31:08.720
<v Speaker 1>to address the issue is even more troubling, Like there

0:31:08.760 --> 0:31:11.080
<v Speaker 1>are changes we could make, and the sooner we make them,

0:31:11.160 --> 0:31:15.080
<v Speaker 1>the better. That could kind of iterate to solve this problem,

0:31:15.160 --> 0:31:17.200
<v Speaker 1>or at least to mitigate the problem, make it less,

0:31:18.440 --> 0:31:20.880
<v Speaker 1>make it less bad in terms of how things are

0:31:20.920 --> 0:31:23.360
<v Speaker 1>going to shake out, make it more better, make it

0:31:23.360 --> 0:31:23.800
<v Speaker 1>more better.

0:31:23.920 --> 0:31:25.520
<v Speaker 2>Let's make sucure security more better.

0:31:25.640 --> 0:31:27.200
<v Speaker 1>But the trust on is going to drive in twenty

0:31:27.200 --> 0:31:29.440
<v Speaker 1>thirty two, which is what I think, one quarter sooner

0:31:29.440 --> 0:31:33.840
<v Speaker 1>than it was previously expected for Q one thirty two

0:31:33.880 --> 0:31:37.800
<v Speaker 1>versus q Q four thirty two versus Q one twenty

0:31:37.800 --> 0:31:39.880
<v Speaker 1>thirty three. Right, And this is just going to keep

0:31:39.880 --> 0:31:41.960
<v Speaker 1>getting more headlines. It's going to ramp up confusion, and

0:31:42.000 --> 0:31:44.760
<v Speaker 1>people are just going to especially young people, young listeners,

0:31:44.840 --> 0:31:46.840
<v Speaker 1>to how the money. I think they've already gotten the memo.

0:31:46.880 --> 0:31:49.240
<v Speaker 1>They've got the message social security is not going to

0:31:49.280 --> 0:31:50.800
<v Speaker 1>be there for me in the way that it was

0:31:50.840 --> 0:31:53.560
<v Speaker 1>for my parents. And I don't think they're wrong.

0:31:54.560 --> 0:31:58.640
<v Speaker 2>No, I agree. I think more folks our age have

0:31:58.720 --> 0:32:01.120
<v Speaker 2>been wising up to it. It's it's a large part.

0:32:01.760 --> 0:32:04.840
<v Speaker 2>And yeah, it's interesting because I don't think that there's

0:32:04.920 --> 0:32:10.680
<v Speaker 2>as much concern from younger generations like our age and

0:32:10.760 --> 0:32:13.920
<v Speaker 2>younger are essentially counting on it less and less. Right,

0:32:13.960 --> 0:32:16.120
<v Speaker 2>It's like a spectrum, like if you are in retirement

0:32:16.120 --> 0:32:18.640
<v Speaker 2>and that's your only source of income, Yeah, you're like,

0:32:18.960 --> 0:32:21.360
<v Speaker 2>what's going to happen to My payout is going to

0:32:21.400 --> 0:32:23.680
<v Speaker 2>get cut by almost twenty five percent. I think it's

0:32:23.720 --> 0:32:25.720
<v Speaker 2>like twenty two or twenty three something. I think twenty

0:32:25.720 --> 0:32:27.840
<v Speaker 2>five or twenty six percent. Yeah, oh really, Oh I

0:32:27.840 --> 0:32:30.440
<v Speaker 2>thought it was a little bit less in that. But

0:32:30.480 --> 0:32:37.080
<v Speaker 2>that's assuming that the government does nothing. And demographics show

0:32:37.240 --> 0:32:40.480
<v Speaker 2>that we have a larger and larger percentage of voters

0:32:40.840 --> 0:32:43.240
<v Speaker 2>who are older, which means it is going to get

0:32:43.280 --> 0:32:46.240
<v Speaker 2>addressed somehow. Like there's for a while I was thinking, oh,

0:32:46.240 --> 0:32:48.000
<v Speaker 2>they might just let this thing kind of sunset, like

0:32:48.080 --> 0:32:50.200
<v Speaker 2>right off into the sunset. Nobody has to touch it,

0:32:50.240 --> 0:32:55.480
<v Speaker 2>nobody has to get right drug over the coals, wracked

0:32:55.480 --> 0:32:57.920
<v Speaker 2>over the coals or whatever for being the one that

0:32:58.160 --> 0:33:02.200
<v Speaker 2>increases taxes. But at the same time, you've got a

0:33:02.240 --> 0:33:04.240
<v Speaker 2>larger and larger block of folks who are counting on

0:33:04.320 --> 0:33:08.040
<v Speaker 2>Social Security. But yeah, fact is, it is a real thing.

0:33:08.160 --> 0:33:11.280
<v Speaker 2>I think what's important to note is that this is

0:33:12.200 --> 0:33:17.160
<v Speaker 2>this isn't clickbait like the trust fund will run out,

0:33:17.200 --> 0:33:19.400
<v Speaker 2>there will still be people paying into it, so it's

0:33:19.400 --> 0:33:22.320
<v Speaker 2>not like it's drying up completely. So it's a little

0:33:22.360 --> 0:33:24.600
<v Speaker 2>misleading there. But there is a structural issue that comes

0:33:25.240 --> 0:33:27.240
<v Speaker 2>when it comes to social security, the future of it,

0:33:27.400 --> 0:33:29.800
<v Speaker 2>how much it is we should be counting on it.

0:33:29.840 --> 0:33:32.680
<v Speaker 2>And in the past we've talked about how or maybe

0:33:32.720 --> 0:33:34.040
<v Speaker 2>you and I have talked about it, like when we've

0:33:34.040 --> 0:33:36.840
<v Speaker 2>talked about sources of income, and you're like, I've got

0:33:36.840 --> 0:33:39.000
<v Speaker 2>the stool, and you've got one leg that's this, You've

0:33:39.040 --> 0:33:41.920
<v Speaker 2>got one leg that's that, and think about social Security.

0:33:41.960 --> 0:33:45.280
<v Speaker 2>Perhaps it's just one leg of your retirement stool, but

0:33:45.400 --> 0:33:48.400
<v Speaker 2>a weaker a weaker leg, right, it's not as sturdy

0:33:48.440 --> 0:33:50.240
<v Speaker 2>as it once was, and so your other legs have

0:33:50.360 --> 0:33:53.120
<v Speaker 2>to be even sturdier. Yeah, to make up. Like when

0:33:53.120 --> 0:33:53.400
<v Speaker 2>you lock.

0:33:53.440 --> 0:33:55.160
<v Speaker 1>We've talked about this before, when you log into social

0:33:55.160 --> 0:33:58.200
<v Speaker 1>Security dot gov and it predicts what you're you know,

0:33:58.240 --> 0:33:59.960
<v Speaker 1>what you're going to have in terms of a Social

0:34:00.000 --> 0:34:02.880
<v Speaker 1>Security check when you hit different retirement ages. You can

0:34:03.440 --> 0:34:06.040
<v Speaker 1>don't plan for that full amount, you know, plan for

0:34:06.560 --> 0:34:09.719
<v Speaker 1>twenty five thirty percent less than what social Security dot

0:34:09.760 --> 0:34:12.920
<v Speaker 1>Gov is telling you. Because especially like it's we're it's

0:34:13.000 --> 0:34:15.920
<v Speaker 1>it's not only the Social Security Trust Fund is running out.

0:34:16.040 --> 0:34:18.600
<v Speaker 1>It's so we're heading in the wrong direction. With more

0:34:18.640 --> 0:34:22.240
<v Speaker 1>and more government spending, people living longer, people having fewer kids,

0:34:22.840 --> 0:34:23.640
<v Speaker 1>and fewer.

0:34:23.360 --> 0:34:27.400
<v Speaker 2>People paying into the system, paying fewer payroll taxes.

0:34:27.040 --> 0:34:30.600
<v Speaker 1>It's only going to become a more and more unhealthy system.

0:34:30.760 --> 0:34:32.719
<v Speaker 1>And the longer we wait to address it, yes, we

0:34:32.800 --> 0:34:37.520
<v Speaker 1>can still find ways to put money into the system,

0:34:38.120 --> 0:34:41.080
<v Speaker 1>but as a country with as much debt as we

0:34:41.200 --> 0:34:46.440
<v Speaker 1>have they're trying to address the issue, it becomes more

0:34:46.560 --> 0:34:50.680
<v Speaker 1>and more tenuous. Right, And so, yeah, this is just

0:34:50.719 --> 0:34:52.680
<v Speaker 1>something to be aware of. And it's just again a

0:34:52.719 --> 0:34:56.359
<v Speaker 1>call to as a DIY investor, be very intentional and

0:34:56.400 --> 0:34:59.439
<v Speaker 1>not rely, not overly project, and rely on what Social

0:34:59.440 --> 0:35:00.520
<v Speaker 1>Security is going to do for you.

0:35:00.719 --> 0:35:03.560
<v Speaker 2>That's one reason that I'm encouraged by more and more

0:35:03.600 --> 0:35:06.680
<v Speaker 2>folks who are saying, well, why why would I buy

0:35:06.680 --> 0:35:09.240
<v Speaker 2>a house? Right? That's another story. We came across somebody

0:35:09.239 --> 0:35:12.440
<v Speaker 2>who's writing I can't remember where, but essentially he was

0:35:12.520 --> 0:35:14.799
<v Speaker 2>just like, I got the money I saved up, but

0:35:14.840 --> 0:35:18.800
<v Speaker 2>I'm choosing not to purchase a home for one reason.

0:35:18.840 --> 0:35:20.600
<v Speaker 2>I don't like the house I can afford. It's in

0:35:20.600 --> 0:35:23.879
<v Speaker 2>a neighborhood I don't really like. But secondly, my net

0:35:23.920 --> 0:35:27.600
<v Speaker 2>worth is growing more by investing those dollars. And you

0:35:27.640 --> 0:35:30.879
<v Speaker 2>are seeing people who are investing more than dollars more

0:35:30.960 --> 0:35:36.480
<v Speaker 2>their income. But that's the trick you need to offset,

0:35:37.239 --> 0:35:41.319
<v Speaker 2>You need offset. I'm thinking about home ownership. Why has

0:35:41.320 --> 0:35:45.160
<v Speaker 2>it been the number one way that Americans have built

0:35:45.160 --> 0:35:47.080
<v Speaker 2>their net worth over the lifetime. Is because it's a

0:35:47.120 --> 0:35:50.759
<v Speaker 2>forced method of savings. You are required to if you

0:35:50.800 --> 0:35:53.239
<v Speaker 2>want to continue to live in that house, right, And

0:35:53.360 --> 0:35:57.440
<v Speaker 2>it's one thing for someone to say that like, okay, well, hypothetically,

0:35:57.480 --> 0:35:59.520
<v Speaker 2>if I were to invest, you know, I'm going to

0:35:59.560 --> 0:36:01.480
<v Speaker 2>see my mind to increase out a faster at a

0:36:01.480 --> 0:36:04.720
<v Speaker 2>faster rate, at a faster clip. But there's a difference

0:36:04.719 --> 0:36:07.799
<v Speaker 2>between being forced to because you're living in the house,

0:36:07.800 --> 0:36:10.480
<v Speaker 2>and if you don't, you get kicked out of that house.

0:36:11.360 --> 0:36:15.560
<v Speaker 2>As a disclosure, it's a face. It's a savings treadmill, right,

0:36:15.640 --> 0:36:17.440
<v Speaker 2>Like you are on this thing, and no matter what

0:36:17.680 --> 0:36:20.719
<v Speaker 2>you are, at a certain pace, you're clipping along and

0:36:20.760 --> 0:36:23.399
<v Speaker 2>you're socking money away. You're building equity there in your home.

0:36:23.719 --> 0:36:26.920
<v Speaker 2>Can you do that on your own you need to.

0:36:27.040 --> 0:36:28.600
<v Speaker 2>We just talked about why you need to because of

0:36:28.600 --> 0:36:31.359
<v Speaker 2>social Security not necessarily being there in the same way

0:36:32.120 --> 0:36:37.040
<v Speaker 2>that it is currently, but you need to. And what

0:36:37.280 --> 0:36:40.799
<v Speaker 2>I think the four to one k millionaires is one

0:36:40.840 --> 0:36:44.319
<v Speaker 2>of the more encouraging notes where people are signing up

0:36:44.320 --> 0:36:46.480
<v Speaker 2>for that it is automatically being taken out of their

0:36:46.480 --> 0:36:49.320
<v Speaker 2>pay out of their their paychecks, and they're not thinking

0:36:49.320 --> 0:36:53.720
<v Speaker 2>about it, right, Like that's another mechanism and is a

0:36:53.719 --> 0:36:56.040
<v Speaker 2>great reason why it is that we are actually seeing

0:36:56.040 --> 0:36:58.759
<v Speaker 2>so many four one k millionaires. But you have to

0:36:58.800 --> 0:37:01.400
<v Speaker 2>be so intentional about that, Like that's what's so clutched.

0:37:01.440 --> 0:37:05.520
<v Speaker 2>That's the key because if you're not being intentional about that, yeah,

0:37:05.560 --> 0:37:08.240
<v Speaker 2>you're going you're not gonna have nearly as much money

0:37:08.239 --> 0:37:08.640
<v Speaker 2>on hand.

0:37:09.520 --> 0:37:13.239
<v Speaker 1>I think there's some tried and true, like realities of

0:37:13.400 --> 0:37:18.160
<v Speaker 1>wealth building that remain steady generation after your generation, and

0:37:18.160 --> 0:37:20.200
<v Speaker 1>then there are other ways in which you have to say,

0:37:20.640 --> 0:37:23.759
<v Speaker 1>what's the reality I'm facing and does it still make

0:37:23.840 --> 0:37:25.480
<v Speaker 1>sense to do it the way my parents did it?

0:37:26.280 --> 0:37:29.120
<v Speaker 1>And I think for more and more and more young

0:37:29.160 --> 0:37:33.240
<v Speaker 1>people are saying, especially if they live in higher cost cities,

0:37:33.719 --> 0:37:36.880
<v Speaker 1>especially with the discrepancy between mortgage what they pay in

0:37:36.880 --> 0:37:38.360
<v Speaker 1>a mortgage is what they can pay in rent for

0:37:38.400 --> 0:37:41.759
<v Speaker 1>something very similar. They're saying, hmm, doesn't really make sense

0:37:41.800 --> 0:37:43.680
<v Speaker 1>the way different my parents doesn't really make sense the

0:37:43.680 --> 0:37:47.520
<v Speaker 1>way it did eight, ten, fifteen years ago. And they're

0:37:47.520 --> 0:37:49.800
<v Speaker 1>not wrong. And I'm not saying that the housing market

0:37:49.800 --> 0:37:54.840
<v Speaker 1>won't change. And because right now, like home prices compared

0:37:54.840 --> 0:37:58.719
<v Speaker 1>to the average salary, like there's a bigger discrepancy than

0:37:58.719 --> 0:38:02.200
<v Speaker 1>there's been in a really long time then and that

0:38:02.320 --> 0:38:04.160
<v Speaker 1>I'm not saying that can't change and level out.

0:38:04.200 --> 0:38:04.719
<v Speaker 2>I think it can.

0:38:04.800 --> 0:38:06.800
<v Speaker 1>I think the housing market could plateau for a while

0:38:07.040 --> 0:38:09.080
<v Speaker 1>and it's going to look more appealing and appetizing to

0:38:09.080 --> 0:38:11.319
<v Speaker 1>buy a home potentially five, six, eight years from now.

0:38:11.719 --> 0:38:16.040
<v Speaker 1>But it doesn't like buying a home, you know, conditions

0:38:16.080 --> 0:38:18.759
<v Speaker 1>be damned to Like that's not intelligent, that's just that's

0:38:18.800 --> 0:38:21.160
<v Speaker 1>just trying to relive the playbook of your parents when

0:38:21.200 --> 0:38:23.160
<v Speaker 1>the playbook doesn't make sense in the same way. It's

0:38:23.200 --> 0:38:25.200
<v Speaker 1>like in the NFL, as they changed the defense, you

0:38:25.280 --> 0:38:27.760
<v Speaker 1>got to change what you're willing to do on offense.

0:38:27.800 --> 0:38:30.839
<v Speaker 1>And maybe you need some more head fakes and hail

0:38:30.920 --> 0:38:32.400
<v Speaker 1>mary's and post routes.

0:38:32.600 --> 0:38:33.200
<v Speaker 2>I don't know, Matt.

0:38:33.239 --> 0:38:35.319
<v Speaker 1>I don't know enough about sports to really say, but

0:38:35.400 --> 0:38:37.440
<v Speaker 1>this is like somebody's been brushing up on is Madden.

0:38:37.719 --> 0:38:39.279
<v Speaker 1>This is a point where you call an audible you

0:38:39.320 --> 0:38:42.279
<v Speaker 1>know what I'm saying, and you make a change to

0:38:43.120 --> 0:38:46.520
<v Speaker 1>kind of the scripted way that it's been done. And

0:38:46.560 --> 0:38:47.920
<v Speaker 1>for a lot of people, I don't think it means

0:38:47.960 --> 0:38:50.799
<v Speaker 1>home ownership can never be a reality. But you're just saying, Hey,

0:38:50.840 --> 0:38:52.640
<v Speaker 1>given the facts on the ground, I'm going to prioritize

0:38:52.680 --> 0:38:56.000
<v Speaker 1>investing right now. Maybe in maybe years down the road,

0:38:56.040 --> 0:38:58.839
<v Speaker 1>I will revisit this decision. I'll be in a better

0:38:58.840 --> 0:39:01.480
<v Speaker 1>off financial position. I'll be able to actually afford the

0:39:01.480 --> 0:39:04.280
<v Speaker 1>house I want if at the same time, the housing

0:39:04.280 --> 0:39:06.600
<v Speaker 1>market experience is a little bit of a correction totally.

0:39:06.680 --> 0:39:08.960
<v Speaker 2>Yeah, the game has changed, which is why that's what

0:39:09.000 --> 0:39:11.000
<v Speaker 2>you're talking about, right You're talking about being flexible because

0:39:11.040 --> 0:39:14.279
<v Speaker 2>the game has changed because interest rates are so sick

0:39:14.280 --> 0:39:16.520
<v Speaker 2>and high, and that's one of the ways that we

0:39:16.560 --> 0:39:19.040
<v Speaker 2>see rates come down. Well, all of a sudden, housing

0:39:19.200 --> 0:39:21.319
<v Speaker 2>homes in particular get you know, start getting a lot

0:39:21.320 --> 0:39:25.080
<v Speaker 2>more affordable. And there's another article we saw that said

0:39:25.120 --> 0:39:28.440
<v Speaker 2>that Americans were forking over an extra sixty five billion

0:39:28.520 --> 0:39:32.480
<v Speaker 2>dollars because they were going essentially with their buddy, Like

0:39:32.520 --> 0:39:34.879
<v Speaker 2>the first it's like, oh yeah, I know a guy,

0:39:34.960 --> 0:39:37.120
<v Speaker 2>I know a guy that does mortgages, and they're like,

0:39:37.120 --> 0:39:39.640
<v Speaker 2>oh yeah, okay, and they go with him or her

0:39:40.160 --> 0:39:44.640
<v Speaker 2>and they don't get another quote. And sixty five billion

0:39:44.719 --> 0:39:46.680
<v Speaker 2>dollars is so much money.

0:39:46.520 --> 0:39:49.640
<v Speaker 1>So much race of money spread over you know, many

0:39:49.760 --> 0:39:53.320
<v Speaker 1>hundreds of thousands of borrowers, but are millions of borrowers,

0:39:53.360 --> 0:39:55.799
<v Speaker 1>so a little bit for everybody. But we've talked about

0:39:55.800 --> 0:39:57.279
<v Speaker 1>how that adds up too.

0:39:57.320 --> 0:39:57.600
<v Speaker 2>Man.

0:39:58.680 --> 0:40:02.040
<v Speaker 1>Yes, not shopping around like we shop around for everything.

0:40:02.800 --> 0:40:05.920
<v Speaker 1>It's you know, except for the most expensive thing that

0:40:05.960 --> 0:40:08.279
<v Speaker 1>could Like if it believes you an extra one hundred

0:40:08.280 --> 0:40:10.040
<v Speaker 1>and twenty one hundred and fifty one hundred and eighty

0:40:10.040 --> 0:40:12.399
<v Speaker 1>dollars a month because you didn't shop around and get

0:40:12.400 --> 0:40:15.080
<v Speaker 1>that better mortgage rate through your local bank or credit union.

0:40:15.080 --> 0:40:16.640
<v Speaker 2>Or talk to most like the credit union.

0:40:16.760 --> 0:40:19.560
<v Speaker 1>Yes, yeah, yeah, Like we've talked about this when we're

0:40:19.600 --> 0:40:22.000
<v Speaker 1>looking at some of these adjustable rate mortgages, Like, man,

0:40:22.000 --> 0:40:24.120
<v Speaker 1>some of our local credit unions have far better rates

0:40:24.160 --> 0:40:26.680
<v Speaker 1>than we've seen anywhere else. And if you're just like

0:40:27.360 --> 0:40:31.480
<v Speaker 1>taking your realtor's recommendation for a mortgage lender, and you're

0:40:31.600 --> 0:40:33.799
<v Speaker 1>just going straight there and you're not asking any questions

0:40:33.840 --> 0:40:36.680
<v Speaker 1>and you're not comparing apples to apples. The money you

0:40:36.680 --> 0:40:39.399
<v Speaker 1>could leave on the table, could it could be way

0:40:39.400 --> 0:40:41.759
<v Speaker 1>more than your Netflix subscription every month? Think it costs you, like,

0:40:41.840 --> 0:40:43.520
<v Speaker 1>you know, ten times your Netflix subscription.

0:40:43.880 --> 0:40:45.480
<v Speaker 2>Yeah, you want to talk about other ways that folks

0:40:45.560 --> 0:40:50.120
<v Speaker 2>can get discounts, let's see on their home insurance. Yeah,

0:40:51.080 --> 0:40:54.240
<v Speaker 2>additional ways to make your housing cost a little bit less.

0:40:54.440 --> 0:40:55.239
<v Speaker 2>So I loved this.

0:40:55.320 --> 0:40:57.760
<v Speaker 1>There was an article I think it was in Baron's

0:40:57.760 --> 0:41:00.960
<v Speaker 1>I don't remember kipling her about DIY upgrades that you

0:41:00.960 --> 0:41:03.040
<v Speaker 1>can make. And one of the things they mentioned was

0:41:03.080 --> 0:41:05.920
<v Speaker 1>even just like you know, your home insurance company is

0:41:05.920 --> 0:41:09.120
<v Speaker 1>going to ask you what what certain questions about your

0:41:09.120 --> 0:41:13.920
<v Speaker 1>house and certain changes that you make can impact you

0:41:14.000 --> 0:41:15.839
<v Speaker 1>in a beneficial way when it comes to how much

0:41:15.880 --> 0:41:17.840
<v Speaker 1>you pay for homeowners insurance. So one of those things

0:41:18.400 --> 0:41:21.160
<v Speaker 1>is having a home security system, right and back in

0:41:21.200 --> 0:41:24.759
<v Speaker 1>the day, that meant calling this one giant company who

0:41:24.760 --> 0:41:26.960
<v Speaker 1>would install it for you, and they would put you

0:41:26.960 --> 0:41:29.120
<v Speaker 1>in this nasty little contract and they would charge you

0:41:29.160 --> 0:41:31.000
<v Speaker 1>like fifty five dollars a month, and if you tried

0:41:31.040 --> 0:41:33.680
<v Speaker 1>to get out of that contract, they would break your

0:41:33.719 --> 0:41:35.560
<v Speaker 1>legs or something like that. Right, that was kind of

0:41:35.560 --> 0:41:37.719
<v Speaker 1>their tactic. It was the scare tactics and stuff like that.

0:41:37.760 --> 0:41:39.560
<v Speaker 2>Then alone came simply safe.

0:41:39.560 --> 0:41:42.720
<v Speaker 1>Were they the first? The first empty safe? Was the

0:41:42.719 --> 0:41:46.480
<v Speaker 1>they started it all? And they just the revolution? Yes, And

0:41:46.560 --> 0:41:49.840
<v Speaker 1>so even if maybe they're not the absolute best choice

0:41:49.840 --> 0:41:52.960
<v Speaker 1>for everyone anymore, they're still a great choice worth considering.

0:41:53.000 --> 0:41:57.160
<v Speaker 1>I think the having that competition thrust into the market,

0:41:57.320 --> 0:41:59.600
<v Speaker 1>it opened up a whole nother space of like DIY

0:41:59.640 --> 0:42:03.600
<v Speaker 1>homes security that didn't really exist before. You had to

0:42:03.640 --> 0:42:05.560
<v Speaker 1>have a professional come to your house and install the

0:42:05.560 --> 0:42:07.799
<v Speaker 1>cameras and blah blah. We don't do that anymore. Right, Like,

0:42:08.280 --> 0:42:11.240
<v Speaker 1>it's like plug and play with tons of different companies

0:42:11.239 --> 0:42:14.720
<v Speaker 1>out there selling you equipment for a pretty low cost

0:42:14.760 --> 0:42:19.120
<v Speaker 1>and then selling you the monitoring on a monthly basis

0:42:19.400 --> 0:42:21.800
<v Speaker 1>for a heck of a lot less for like ten percent.

0:42:21.880 --> 0:42:23.720
<v Speaker 1>You know of what the big company used to charge.

0:42:24.080 --> 0:42:26.440
<v Speaker 1>But this is an inexpensive thing that you can do

0:42:26.480 --> 0:42:28.839
<v Speaker 1>to your home that actually could save you money over

0:42:28.840 --> 0:42:31.200
<v Speaker 1>the long haul. So it's worth asking your homeowners insurance company, Hey,

0:42:31.239 --> 0:42:33.600
<v Speaker 1>what can I do to save money on the costs

0:42:33.800 --> 0:42:36.920
<v Speaker 1>as these costs of risen And if okay, if I

0:42:36.960 --> 0:42:39.719
<v Speaker 1>got a let's say a cheap home security system, how

0:42:39.760 --> 0:42:41.920
<v Speaker 1>much would that reduce my homeowners insurance bill? And you

0:42:42.000 --> 0:42:45.240
<v Speaker 1>might find that you'd more than cover the costs of

0:42:45.400 --> 0:42:49.719
<v Speaker 1>that security system you're installing in a year. Right, Like,

0:42:49.880 --> 0:42:51.759
<v Speaker 1>it's I think it's one of those things more people

0:42:51.760 --> 0:42:52.720
<v Speaker 1>should should consider.

0:42:53.200 --> 0:42:55.480
<v Speaker 2>Yeah, yeah, it makes me think about just other ways

0:42:55.480 --> 0:42:57.520
<v Speaker 2>that you that a lot of folks when they're hit

0:42:57.560 --> 0:43:01.400
<v Speaker 2>with a surprising new PREMI increase or maybe the like

0:43:01.440 --> 0:43:03.239
<v Speaker 2>if they got a teenage driver, it's just like, oh

0:43:03.239 --> 0:43:06.200
<v Speaker 2>my gosh, how much are we gonna and this these

0:43:06.239 --> 0:43:08.600
<v Speaker 2>are waters that we're starting to We're still a few

0:43:08.680 --> 0:43:11.239
<v Speaker 2>years out, but I'm still I talk to friends all

0:43:11.239 --> 0:43:13.200
<v Speaker 2>the time and they've got teenage drivers and they're just

0:43:13.239 --> 0:43:15.680
<v Speaker 2>talking about how much it costs, and they're looking for

0:43:16.400 --> 0:43:19.799
<v Speaker 2>every good student discount possible. Right, But when you have

0:43:20.480 --> 0:43:24.360
<v Speaker 2>home insurance rates that slowly creep up, Yeah, it's the

0:43:24.360 --> 0:43:26.239
<v Speaker 2>boiling it's the frog and boiling water. Man. You just

0:43:26.360 --> 0:43:28.400
<v Speaker 2>you get used to it and you're like, oh, I

0:43:28.400 --> 0:43:30.759
<v Speaker 2>guess that's just what it is now as opposed to

0:43:30.800 --> 0:43:35.040
<v Speaker 2>finding other ways to make your homeowners insurance costs less,

0:43:35.320 --> 0:43:38.000
<v Speaker 2>like like installing a trampoline. I'm pretty sure that makes

0:43:38.080 --> 0:43:41.640
<v Speaker 2>that brings down the cost of your homeowners insurance, does Nigel? Sure? Right?

0:43:42.200 --> 0:43:43.920
<v Speaker 1>Yeah, I don't know we have a trampoline. I know

0:43:43.960 --> 0:43:46.839
<v Speaker 1>you do too, And I'm yeah, I don't even remember

0:43:46.840 --> 0:43:47.840
<v Speaker 1>if they asked me the question.

0:43:47.640 --> 0:43:48.839
<v Speaker 2>About do you have it. I don't know if they

0:43:48.840 --> 0:43:50.120
<v Speaker 2>did either. I don't know why I thought of that.

0:43:50.160 --> 0:43:52.839
<v Speaker 2>I was just thinking through, like what things on our

0:43:52.920 --> 0:43:57.280
<v Speaker 2>property are make us more of a liability risk perhaps,

0:43:57.520 --> 0:43:59.680
<v Speaker 2>And I'm like, oh, we do have a trampoline. You

0:43:59.719 --> 0:44:02.480
<v Speaker 2>know you got some of these different Yeah, anyway, did

0:44:02.520 --> 0:44:03.520
<v Speaker 2>you see.

0:44:02.840 --> 0:44:06.799
<v Speaker 1>The article about the security deposits the fintech companies that

0:44:06.840 --> 0:44:09.840
<v Speaker 1>are like allowing you to essentially pay an annual fee

0:44:09.920 --> 0:44:12.319
<v Speaker 1>or smaller sums so that you don't have to pay

0:44:12.320 --> 0:44:14.480
<v Speaker 1>as big of a security deposit if you're renting.

0:44:14.239 --> 0:44:17.399
<v Speaker 2>If you're I did not, so fill me in. All right.

0:44:17.440 --> 0:44:21.200
<v Speaker 1>So this is fascinating and it's terrible because just like

0:44:21.239 --> 0:44:27.040
<v Speaker 1>everything else in modern America, there are fintech companies coming

0:44:27.080 --> 0:44:30.759
<v Speaker 1>down the pike to try to help you out in

0:44:30.800 --> 0:44:33.000
<v Speaker 1>a way that like where you have to pay less

0:44:33.000 --> 0:44:37.640
<v Speaker 1>money in upfront, but ultimately it's going to cost you

0:44:37.640 --> 0:44:38.120
<v Speaker 1>more in the end.

0:44:38.200 --> 0:44:39.640
<v Speaker 2>And so these these.

0:44:39.480 --> 0:44:42.280
<v Speaker 1>Products function kind of like insurance, like we're talking about

0:44:42.520 --> 0:44:46.719
<v Speaker 1>where they are. You know, the security deposit this is

0:44:46.760 --> 0:44:49.160
<v Speaker 1>this is gone now once you've paid this company and

0:44:49.200 --> 0:44:51.200
<v Speaker 1>I forget what I forget what this company was called.

0:44:51.200 --> 0:44:53.200
<v Speaker 1>I can try to look it up. But like these

0:44:53.280 --> 0:44:56.880
<v Speaker 1>third party services charging you less money so that you

0:44:56.920 --> 0:44:59.720
<v Speaker 1>can and they'll pay essentially the security deposit on your behalf.

0:45:00.280 --> 0:45:03.200
<v Speaker 1>But if something happens, like to the property while you're

0:45:03.200 --> 0:45:06.319
<v Speaker 1>in it, you now there's another party you're dealing with,

0:45:06.680 --> 0:45:08.880
<v Speaker 1>and at the at the same time, like what you

0:45:08.960 --> 0:45:11.080
<v Speaker 1>paid them, you never get that back. Let's say you

0:45:11.160 --> 0:45:13.160
<v Speaker 1>kept the home and pristine condition and you moved out,

0:45:13.440 --> 0:45:15.760
<v Speaker 1>like you don't, you don't get this back. So it's

0:45:16.080 --> 0:45:19.560
<v Speaker 1>it's instead of a security deposit, this is like an

0:45:19.560 --> 0:45:23.480
<v Speaker 1>insurance product that you're buying. And the National Consumer Law

0:45:23.520 --> 0:45:25.919
<v Speaker 1>Center dug in and they basically said, hey, these put

0:45:25.960 --> 0:45:28.440
<v Speaker 1>tenants in a worse financial position when you use when

0:45:28.440 --> 0:45:29.560
<v Speaker 1>they use products.

0:45:29.200 --> 0:45:31.920
<v Speaker 2>Like this, so as opposed to saving up on the

0:45:31.920 --> 0:45:33.960
<v Speaker 2>front and having the cash on hand to be able

0:45:34.040 --> 0:45:36.439
<v Speaker 2>to actually put the deposit down what you would most

0:45:36.480 --> 0:45:38.319
<v Speaker 2>likely get back if you did keep the place, yes,

0:45:38.960 --> 0:45:40.640
<v Speaker 2>in good shape. Oh I don't like that man. This

0:45:40.840 --> 0:45:44.000
<v Speaker 2>is it's just like another way of breaking up these large,

0:45:44.480 --> 0:45:48.120
<v Speaker 2>larger sums of money into monthly payments. It's like pm I,

0:45:48.680 --> 0:45:53.200
<v Speaker 2>but like for rent deposit as opposed to a private

0:45:53.280 --> 0:45:54.040
<v Speaker 2>mortgage insurance.

0:45:54.080 --> 0:45:56.680
<v Speaker 1>But yeah, and it's just remike me too as a renter.

0:45:57.040 --> 0:45:59.480
<v Speaker 1>To protect yourself, will one save up and have the

0:46:00.120 --> 0:46:02.919
<v Speaker 1>have the security deposit, have all the money you need

0:46:02.960 --> 0:46:05.600
<v Speaker 1>to make that happen, along with moving expenses, along with

0:46:05.600 --> 0:46:08.719
<v Speaker 1>an emergency fund, but also take pictures when you move

0:46:08.760 --> 0:46:11.400
<v Speaker 1>in and when you move out so that you document it,

0:46:11.440 --> 0:46:15.000
<v Speaker 1>because there are some shady landlords out there too who

0:46:15.040 --> 0:46:17.640
<v Speaker 1>will be like, yeah, you did a fifteen hundred dollars

0:46:17.680 --> 0:46:19.799
<v Speaker 1>worth of damages. Here's the three hundred dollars from your

0:46:19.840 --> 0:46:23.359
<v Speaker 1>security deposit that you know that we didn't need. And

0:46:23.400 --> 0:46:25.960
<v Speaker 1>you're like, what, I didn't do anything, And then you're

0:46:25.960 --> 0:46:29.680
<v Speaker 1>in some sort of legal dispute and nice, at least prove.

0:46:29.800 --> 0:46:32.359
<v Speaker 2>That you didn't do anything. Yeah, yeah, it's a much

0:46:32.360 --> 0:46:35.120
<v Speaker 2>stronger case. You want to talk about water. Should we

0:46:35.120 --> 0:46:37.399
<v Speaker 2>talk about how waters get more expensive? We got tired

0:46:37.480 --> 0:46:37.680
<v Speaker 2>for that.

0:46:37.840 --> 0:46:39.360
<v Speaker 1>Have you noticed that water bills are going up? I

0:46:39.400 --> 0:46:41.800
<v Speaker 1>feel like this has been happening for years now, that

0:46:42.000 --> 0:46:44.759
<v Speaker 1>a little bit. It's not just electricity prices, it's water

0:46:44.800 --> 0:46:48.200
<v Speaker 1>bills too. Yeah we so okay, So yeah.

0:46:48.200 --> 0:46:52.000
<v Speaker 2>This is the story basically talks about how, generally speaking,

0:46:52.080 --> 0:46:54.279
<v Speaker 2>I mean water, it's increasing at a faster clip, at

0:46:54.320 --> 0:47:00.480
<v Speaker 2>a faster rate than consumer spending inflation just across the board,

0:47:00.880 --> 0:47:04.040
<v Speaker 2>which I mean, I don't know, everything's getting more expensive.

0:47:04.480 --> 0:47:06.560
<v Speaker 2>I did find it interesting that they were sort of

0:47:06.640 --> 0:47:12.040
<v Speaker 2>cherry picking some extreme cases though, some instances where oh

0:47:12.480 --> 0:47:14.759
<v Speaker 2>this the reservoir is empty, and it's like, okay, yes,

0:47:14.760 --> 0:47:16.919
<v Speaker 2>we've got some serious problems when it comes it comes

0:47:17.000 --> 0:47:20.200
<v Speaker 2>to the kind of water and the rates that we're

0:47:20.360 --> 0:47:24.160
<v Speaker 2>able to pass along as the municipality to our residents

0:47:24.200 --> 0:47:27.120
<v Speaker 2>and to our customers. It makes me so thankful for

0:47:28.040 --> 0:47:29.960
<v Speaker 2>and I don't even know if we where we live,

0:47:30.000 --> 0:47:32.319
<v Speaker 2>if we get our actual water from Atlanta, but it

0:47:32.360 --> 0:47:34.920
<v Speaker 2>makes me think about the giant works project that they

0:47:34.920 --> 0:47:37.840
<v Speaker 2>did where they drill or Mike, remember the name of

0:47:37.880 --> 0:47:42.080
<v Speaker 2>the of the drill. They bored a tunnel from the

0:47:42.200 --> 0:47:44.880
<v Speaker 2>river all the way to this reservoir, and it changed

0:47:44.960 --> 0:47:51.000
<v Speaker 2>our days city days on hand water from like two

0:47:51.080 --> 0:47:54.520
<v Speaker 2>or three days to like thirty, which I'm like, that

0:47:54.600 --> 0:47:58.480
<v Speaker 2>seems responsible. Good job city there, right, Yeah, And so

0:47:59.160 --> 0:48:02.600
<v Speaker 2>on one hand, there is not a ton that you

0:48:02.640 --> 0:48:05.600
<v Speaker 2>can do when it comes to a when it comes

0:48:05.600 --> 0:48:08.640
<v Speaker 2>to the kind of infrastructure spending that has to take place.

0:48:08.719 --> 0:48:10.560
<v Speaker 2>That's why a lot of it is taking place, right,

0:48:10.600 --> 0:48:12.200
<v Speaker 2>It's just these systems that have been in place for

0:48:12.239 --> 0:48:16.120
<v Speaker 2>a long time. They need to be replaced. You can

0:48:16.160 --> 0:48:18.160
<v Speaker 2>keep that in mind, But I doubt many people are

0:48:18.160 --> 0:48:19.799
<v Speaker 2>going to change where it is that they're moving to

0:48:20.680 --> 0:48:23.120
<v Speaker 2>based on what kind of condition it's. It's sort of

0:48:23.120 --> 0:48:26.000
<v Speaker 2>like looking at the an Hoa and looking at the

0:48:26.040 --> 0:48:28.879
<v Speaker 2>reserves and being like, hmm, how are we doing There's

0:48:28.920 --> 0:48:30.279
<v Speaker 2>not there's not a whole lot of folks doing that

0:48:30.280 --> 0:48:31.640
<v Speaker 2>when it comes to the city that they're living.

0:48:31.800 --> 0:48:33.479
<v Speaker 1>No, but they should be. In the case of an Hoa,

0:48:33.640 --> 0:48:37.600
<v Speaker 1>probably should be exactly the city means the water, you know,

0:48:38.480 --> 0:48:40.200
<v Speaker 1>and how how what you know? What what does that

0:48:40.400 --> 0:48:43.239
<v Speaker 1>look like? But when it comes to individuals other there's

0:48:43.280 --> 0:48:45.680
<v Speaker 1>there's bigger reasons that you're moving to a certain city

0:48:45.880 --> 0:48:48.560
<v Speaker 1>or to a certain district, whether it's schools, jobs, to

0:48:48.560 --> 0:48:50.960
<v Speaker 1>be closer to a family. But on a personal level,

0:48:51.040 --> 0:48:53.879
<v Speaker 1>there are absolutely things that you can do. And that's

0:48:53.880 --> 0:48:54.960
<v Speaker 1>what we talk about here on the show.

0:48:55.000 --> 0:48:57.600
<v Speaker 2>The things. We're not talking about policy, we're talking about

0:48:57.640 --> 0:49:00.000
<v Speaker 2>what you can do as an individual. Do you say,

0:49:00.200 --> 0:49:04.320
<v Speaker 2>like to take your showers? Well, literally, when Georgia was

0:49:04.320 --> 0:49:06.360
<v Speaker 2>going through a drought many years ago, the then governor,

0:49:06.719 --> 0:49:09.279
<v Speaker 2>they were he like, he had like an address to

0:49:09.680 --> 0:49:12.080
<v Speaker 2>the state and he and I'm still remember I can

0:49:12.120 --> 0:49:14.240
<v Speaker 2>say it the way he said it, take a shorter shower,

0:49:14.520 --> 0:49:16.440
<v Speaker 2>Like that's the way, Like that's what he said to people,

0:49:16.600 --> 0:49:19.520
<v Speaker 2>and he's not he's not wrong. Like the shorter shower. Okay,

0:49:19.680 --> 0:49:22.160
<v Speaker 2>shorter showers, they take no shower at all than the

0:49:22.200 --> 0:49:22.800
<v Speaker 2>shorter shower.

0:49:22.840 --> 0:49:25.520
<v Speaker 1>Now he didn't say don't bathe, which I appreciate because

0:49:25.600 --> 0:49:29.480
<v Speaker 1>people would have probably revolted. But replacing your toilet lofo

0:49:29.719 --> 0:49:32.920
<v Speaker 1>toilet sped in. The water company will pay you, we'll

0:49:32.920 --> 0:49:35.360
<v Speaker 1>buy the toilet for you basically to do that, and

0:49:35.400 --> 0:49:38.919
<v Speaker 1>then you're able to save some money or not having

0:49:38.920 --> 0:49:42.120
<v Speaker 1>a fancy lawn right that requires watering. There are all

0:49:42.200 --> 0:49:44.680
<v Speaker 1>these ways that you can around the edges at least

0:49:44.680 --> 0:49:46.160
<v Speaker 1>save on your water bill. I don't I don't know

0:49:46.200 --> 0:49:48.200
<v Speaker 1>that you're going to like cut it in half, right,

0:49:48.280 --> 0:49:51.520
<v Speaker 1>but you might be able to get to lop fifteen

0:49:51.520 --> 0:49:53.640
<v Speaker 1>twenty bucks a month off of your water usage if

0:49:53.680 --> 0:49:56.319
<v Speaker 1>you take just a couple of measures and you did

0:49:56.560 --> 0:49:59.959
<v Speaker 1>that don't involve smelling when you show up to work.

0:50:01.200 --> 0:50:03.680
<v Speaker 2>It's true. It makes me think about my parents' house,

0:50:04.239 --> 0:50:07.879
<v Speaker 2>and they're like, they do the exact opposite. They're just like, oh,

0:50:07.920 --> 0:50:10.799
<v Speaker 2>I love it when the water flows. So like my dad,

0:50:10.960 --> 0:50:13.760
<v Speaker 2>he takes much pride in the water pressure at our house.

0:50:14.239 --> 0:50:15.920
<v Speaker 2>And I will say, like, you get in the shower

0:50:15.960 --> 0:50:20.080
<v Speaker 2>there and like it feels like a tingly massage. It's

0:50:20.080 --> 0:50:22.279
<v Speaker 2>insane just how much it just cuts through the hair.

0:50:23.000 --> 0:50:24.359
<v Speaker 2>But one of the downsides of that, and I told

0:50:24.400 --> 0:50:26.120
<v Speaker 2>him the last time we were talking about this, I

0:50:26.160 --> 0:50:29.920
<v Speaker 2>was just like, you know, remember that time that the

0:50:29.960 --> 0:50:32.560
<v Speaker 2>water filter that was on the outside of the fridge

0:50:32.960 --> 0:50:36.480
<v Speaker 2>cracked and water went everywhere and kind of ruined the floor.

0:50:36.880 --> 0:50:38.480
<v Speaker 2>I was just like, I wonder if that has anything

0:50:38.520 --> 0:50:41.000
<v Speaker 2>to do with the fact that the pressure going to

0:50:41.040 --> 0:50:43.200
<v Speaker 2>the all of our appliances all to all of your

0:50:43.200 --> 0:50:45.680
<v Speaker 2>appliances in the house are like, it's basically twice what

0:50:45.760 --> 0:50:48.480
<v Speaker 2>it should be. He's like one of the regulators or

0:50:48.480 --> 0:50:50.959
<v Speaker 2>whatever that's called, right, Yeah, so, so modern plumbing codes,

0:50:51.480 --> 0:50:54.319
<v Speaker 2>it's the PrV. It's the pressure reduction valve or something

0:50:54.360 --> 0:50:55.960
<v Speaker 2>like that, and it's supposed to be set at a

0:50:55.960 --> 0:50:59.000
<v Speaker 2>certain level. But either older homes that were built before

0:50:59.040 --> 0:51:03.160
<v Speaker 2>that was required either don't have that, or sometimes people

0:51:03.239 --> 0:51:06.319
<v Speaker 2>get down there and they increase the pressure. And I'm

0:51:06.320 --> 0:51:09.000
<v Speaker 2>just saying that that also leads to other problems down

0:51:09.000 --> 0:51:12.759
<v Speaker 2>the road, Like your valves on your faucet, it's not

0:51:12.840 --> 0:51:14.680
<v Speaker 2>made to handle that kind of pressure as well. So

0:51:14.760 --> 0:51:18.120
<v Speaker 2>not only are we talking about you on a daily

0:51:18.160 --> 0:51:21.960
<v Speaker 2>basis using more water, but also just the premature failure

0:51:22.200 --> 0:51:25.080
<v Speaker 2>of a faucet, of a valve on the toilet or

0:51:25.120 --> 0:51:27.160
<v Speaker 2>something like that, you know, like the failure. That's what

0:51:27.280 --> 0:51:31.759
<v Speaker 2>my parents called me, Matt. Oh no, you didn't. You

0:51:31.800 --> 0:51:35.200
<v Speaker 2>didn't fail to launch my friend. But yeah, so that's

0:51:35.280 --> 0:51:38.120
<v Speaker 2>that's the story about water. We won't get into how

0:51:38.160 --> 0:51:41.200
<v Speaker 2>I'm spending I'm buying big jugs of bottled water now

0:51:41.280 --> 0:51:45.520
<v Speaker 2>for my for my expresso machine. Oh okay, did I

0:51:45.520 --> 0:51:48.520
<v Speaker 2>tell you that is it's that's the most expensive way

0:51:48.600 --> 0:51:52.000
<v Speaker 2>to pay for water apparently, and a giant thing something

0:51:52.000 --> 0:51:54.399
<v Speaker 2>about the water chemistry. But we will connect that it's

0:51:54.440 --> 0:51:56.839
<v Speaker 2>worth it because you got to do that. I think, dude,

0:51:56.840 --> 0:51:58.600
<v Speaker 2>this is my new craft beer equivalent. I think I'm

0:51:58.600 --> 0:52:00.520
<v Speaker 2>willing to say that here on the show. Now that's

0:52:01.560 --> 0:52:05.799
<v Speaker 2>I'm spending more of my premium top dollar on. I mean,

0:52:05.840 --> 0:52:08.120
<v Speaker 2>I already spent it. But we were just talking this

0:52:08.160 --> 0:52:11.400
<v Speaker 2>morning about dabbling and getting into the higher end coffees

0:52:11.400 --> 0:52:13.719
<v Speaker 2>because I can tell the difference, and I'm like, hey,

0:52:13.760 --> 0:52:17.600
<v Speaker 2>I'd rather do that than by another four pack of

0:52:17.680 --> 0:52:20.359
<v Speaker 2>some really nice beer. I think the espresso you made

0:52:20.360 --> 0:52:23.080
<v Speaker 2>me before our trail run was delicious. That was this morning.

0:52:23.120 --> 0:52:26.040
<v Speaker 2>Literally did you enjoy that? That's so good.

0:52:26.239 --> 0:52:28.000
<v Speaker 1>Nothing puts a pep in my step makes you want

0:52:28.000 --> 0:52:30.920
<v Speaker 1>to run up a mountain like that. So yeah, that's

0:52:31.000 --> 0:52:33.640
<v Speaker 1>gonna do it for this episode. Yeah, and again, we

0:52:33.680 --> 0:52:37.320
<v Speaker 1>are on If you're listening to this on the audio feed, awesome,

0:52:37.360 --> 0:52:39.440
<v Speaker 1>thank you. But we're also on YouTube. You can check

0:52:39.480 --> 0:52:41.200
<v Speaker 1>that out. We'll put the link to our new YouTube

0:52:41.280 --> 0:52:44.560
<v Speaker 1>channel in the show notes. You can see our beautiful

0:52:44.680 --> 0:52:48.880
<v Speaker 1>smiling shining faces over there. If you do, go over there,

0:52:48.920 --> 0:52:51.240
<v Speaker 1>hit the subscribe button and like hit the thumb leaees,

0:52:51.520 --> 0:52:54.040
<v Speaker 1>because then that tells like the YouTube overlords that like

0:52:54.080 --> 0:52:57.640
<v Speaker 1>our content is worth watching and they matter like way

0:52:57.640 --> 0:53:00.719
<v Speaker 1>too much in our society these days. So tell them,

0:53:00.760 --> 0:53:01.600
<v Speaker 1>tell them we're okay.

0:53:01.960 --> 0:53:04.200
<v Speaker 2>Yeah, we're okay, We're okay. All right, that's gonna be

0:53:04.200 --> 0:53:06.920
<v Speaker 2>it for this particular episode. Buddy. We hope everyone has

0:53:06.920 --> 0:53:09.080
<v Speaker 2>a fantastic weekend. We'll see you back here on Monday,

0:53:09.440 --> 0:53:13.680
<v Speaker 2>so Buddy, until next time, best friends out, best friends out.

0:53:28.320 --> 0:53:30.000
<v Speaker 2>See you later, Buddy later