1 00:00:00,080 --> 00:00:02,480 Speaker 1: Welcome to How the Money. I'm Joel and I and 2 00:00:02,600 --> 00:00:25,040 Speaker 1: Matt's and today we are answering your listener questions. Joel, 3 00:00:25,079 --> 00:00:28,240 Speaker 1: it is a listener question Monday, and we've got five 4 00:00:28,320 --> 00:00:31,360 Speaker 1: excellent questions, including one about asking for a credit limit 5 00:00:31,400 --> 00:00:34,159 Speaker 1: increase how that affects your credit score. On another one, 6 00:00:34,159 --> 00:00:36,240 Speaker 1: we're gonna talk about the things to consider when you're 7 00:00:36,280 --> 00:00:39,320 Speaker 1: on the path to home ownership. And we have a 8 00:00:39,400 --> 00:00:41,279 Speaker 1: question as well that has to do with bikes. We're 9 00:00:41,280 --> 00:00:44,520 Speaker 1: gonna make a bike recommendation to somebody because he knows 10 00:00:44,920 --> 00:00:48,120 Speaker 1: our love, our passion of all sorts of bikes out there. 11 00:00:48,159 --> 00:00:50,280 Speaker 1: So excited to get to that last question as well. Yeah, 12 00:00:50,320 --> 00:00:51,760 Speaker 1: we don't want them to spend too much, but you 13 00:00:51,800 --> 00:00:53,800 Speaker 1: know what, a bike is one thing that's worth spending 14 00:00:53,880 --> 00:00:55,200 Speaker 1: a little bit more on, I think, and I would 15 00:00:55,200 --> 00:00:57,520 Speaker 1: be willing to say that a bike is an investment 16 00:00:57,520 --> 00:01:00,200 Speaker 1: as well. There's not many things that we spend money 17 00:01:00,280 --> 00:01:02,680 Speaker 1: on that go down in value that I would consider 18 00:01:02,720 --> 00:01:05,200 Speaker 1: an investment, but bikes totally are because think about all 19 00:01:05,200 --> 00:01:07,400 Speaker 1: the money that it's saving you by not driving around. 20 00:01:07,480 --> 00:01:10,360 Speaker 1: It's a good point. Yeah, bikes are definitely a worthwhile purchase. 21 00:01:10,400 --> 00:01:11,840 Speaker 1: I don't know if I'm willing to call a bike 22 00:01:11,880 --> 00:01:15,360 Speaker 1: in investment, but I think it's a worthwhile purchase because 23 00:01:15,360 --> 00:01:18,360 Speaker 1: it can say while purchase for sure. Yeah all right, okay, 24 00:01:18,440 --> 00:01:20,600 Speaker 1: question for you frugal or cheap. Let's do this. We 25 00:01:20,600 --> 00:01:22,520 Speaker 1: haven't done it in a minute, Let's do it. Uh. 26 00:01:22,560 --> 00:01:26,360 Speaker 1: So recently I heard about this this company. I think 27 00:01:26,360 --> 00:01:29,760 Speaker 1: they're an Instagram ad called Propane Taxi. And wait, how 28 00:01:29,760 --> 00:01:33,320 Speaker 1: do you say propane? You say propane, propane, propane, propane, propane, 29 00:01:33,319 --> 00:01:36,959 Speaker 1: all right, the emphasist is on the first the wrong sellable. 30 00:01:37,440 --> 00:01:40,520 Speaker 1: So okay. So I saw this ad, I decided, wow, 31 00:01:40,640 --> 00:01:44,000 Speaker 1: ten dollar propane tank delivered to my porch. Why not, 32 00:01:44,040 --> 00:01:46,920 Speaker 1: I'll give it a shot. And so so I signed up, 33 00:01:46,920 --> 00:01:48,600 Speaker 1: and they delivered it when they said they were going 34 00:01:48,640 --> 00:01:50,360 Speaker 1: to and literally it was I want to say it 35 00:01:50,400 --> 00:01:52,760 Speaker 1: was eight dollars and fifty cents. Because I chose a 36 00:01:52,840 --> 00:01:54,600 Speaker 1: date like two weeks off in the future would save 37 00:01:54,640 --> 00:01:57,559 Speaker 1: me even more money. And it's like Amazon slow ship 38 00:01:58,280 --> 00:02:00,440 Speaker 1: the five dollars of random credit that you'll never be 39 00:02:00,440 --> 00:02:04,040 Speaker 1: able to find exactly exactly. And so yeah, the propane 40 00:02:04,040 --> 00:02:07,880 Speaker 1: tank showed up and man, it was super seamless, but 41 00:02:08,000 --> 00:02:10,880 Speaker 1: you know, my initial thought when I first placed the order, 42 00:02:10,880 --> 00:02:13,640 Speaker 1: when I first ordered that tank, was I'm never going 43 00:02:13,680 --> 00:02:15,880 Speaker 1: to use these guys again, because I saw their regular 44 00:02:15,960 --> 00:02:19,000 Speaker 1: rates that we were like twenty three to a tank, 45 00:02:19,040 --> 00:02:20,880 Speaker 1: and I know I can go just down to the 46 00:02:20,960 --> 00:02:23,399 Speaker 1: whole hardware store and I can get the same tank 47 00:02:23,440 --> 00:02:26,240 Speaker 1: for fourteen bucks. But yeah, what's your take on that? 48 00:02:26,320 --> 00:02:27,920 Speaker 1: Is it frugal or cheap to sign up for a 49 00:02:27,960 --> 00:02:31,160 Speaker 1: service because of the initial deal knowing in all likelihood 50 00:02:31,400 --> 00:02:33,799 Speaker 1: you're never going to use that service again. Man, this 51 00:02:33,840 --> 00:02:36,800 Speaker 1: is such a tough question, and I could constantly struggle 52 00:02:36,840 --> 00:02:39,240 Speaker 1: with questions like this as well, because in an instance 53 00:02:39,240 --> 00:02:41,120 Speaker 1: like this here, here's why I struggle. It is because 54 00:02:41,120 --> 00:02:43,720 Speaker 1: I feel pretty confident in my ability to say no, 55 00:02:44,160 --> 00:02:45,959 Speaker 1: Like I'm pretty sure I'm never going to use the 56 00:02:46,000 --> 00:02:47,840 Speaker 1: company like that again. It's funny that you mentioned them, 57 00:02:47,840 --> 00:02:50,040 Speaker 1: because I'm looking at swapping out one of my things 58 00:02:50,040 --> 00:02:51,320 Speaker 1: with him as well. I think I got the same 59 00:02:51,360 --> 00:02:54,960 Speaker 1: Instagram ad that you did. Uh, Because now that a summer, 60 00:02:55,000 --> 00:02:57,079 Speaker 1: we're doing a lot more grilling, you know, But obviously 61 00:02:57,240 --> 00:02:59,880 Speaker 1: that the company is banking on the fact that you'll 62 00:03:00,080 --> 00:03:02,720 Speaker 1: use them, you will realize how great they are, you know, 63 00:03:02,800 --> 00:03:05,280 Speaker 1: the convenience that they're able to provide that you won't 64 00:03:05,280 --> 00:03:08,160 Speaker 1: have to lug your you know, the heavy, nasty propane 65 00:03:08,200 --> 00:03:10,040 Speaker 1: tank around, you know, it's got like grease drippings on 66 00:03:10,080 --> 00:03:13,360 Speaker 1: it to completely avoid that. They'll think that you'll kind 67 00:03:13,360 --> 00:03:14,679 Speaker 1: of fall in love with their service and that you 68 00:03:14,680 --> 00:03:16,600 Speaker 1: will just kind of stick with it, But I struggle 69 00:03:16,600 --> 00:03:19,480 Speaker 1: with it knowing that I'm I'm going to cancel it, 70 00:03:19,560 --> 00:03:21,240 Speaker 1: right if if I sign up for that service, I'm 71 00:03:21,240 --> 00:03:23,360 Speaker 1: pretty sure I'm going to cancel. I'm pretty confident in 72 00:03:23,360 --> 00:03:25,640 Speaker 1: my ability to say no, and that that's not going 73 00:03:25,680 --> 00:03:28,160 Speaker 1: to be something that I just kind of slowly, you know, 74 00:03:28,240 --> 00:03:30,720 Speaker 1: upgrade my quality of life by you know, taking part 75 00:03:30,800 --> 00:03:34,160 Speaker 1: in this delivery service. But even still that being said, 76 00:03:34,880 --> 00:03:37,040 Speaker 1: they they're taking that into accounts. They know that they 77 00:03:37,040 --> 00:03:39,000 Speaker 1: are going to be some people who try their service, 78 00:03:39,120 --> 00:03:42,840 Speaker 1: like you exactly, who are gonna take advantage of that 79 00:03:42,920 --> 00:03:46,000 Speaker 1: discounted first pro pain tank and then they're gonna walk away. 80 00:03:46,320 --> 00:03:48,280 Speaker 1: And so I think they know that, right, and so 81 00:03:48,320 --> 00:03:51,320 Speaker 1: it's built into their business model, and so therefore I 82 00:03:51,480 --> 00:03:53,880 Speaker 1: label it frugal. I think it's a y is you 83 00:03:54,000 --> 00:03:55,800 Speaker 1: some money? I think I'm with you on this because 84 00:03:55,920 --> 00:03:59,320 Speaker 1: I think the their goal, their effort is to try 85 00:03:59,360 --> 00:04:02,120 Speaker 1: to provide a great service and show you how wonderful 86 00:04:02,160 --> 00:04:04,760 Speaker 1: it can be. And you know what, I'm leaving room 87 00:04:04,760 --> 00:04:05,960 Speaker 1: in the back of my mind that I could be 88 00:04:06,000 --> 00:04:08,760 Speaker 1: persuaded that I'm just gonna start having propane tanks delivered 89 00:04:08,760 --> 00:04:10,680 Speaker 1: to my porch, but in a likelihood that's that's not 90 00:04:10,720 --> 00:04:12,680 Speaker 1: gonna happen. I'm not willing to pay ten dollars extra 91 00:04:12,720 --> 00:04:14,720 Speaker 1: every time I need to refill, but I was willing 92 00:04:14,720 --> 00:04:17,200 Speaker 1: to give it a shot, knowing full well there was 93 00:04:17,400 --> 00:04:20,000 Speaker 1: a really good chance I never used them again. So 94 00:04:20,440 --> 00:04:23,440 Speaker 1: I'm gonna go frugal, even though you know, maybe maybe 95 00:04:23,440 --> 00:04:25,800 Speaker 1: some of our audience would say say it's cheap, but 96 00:04:26,000 --> 00:04:27,840 Speaker 1: I think it's worth it to take advantage of an 97 00:04:27,839 --> 00:04:30,000 Speaker 1: initial offer, and that It's happened to me before where 98 00:04:30,000 --> 00:04:32,119 Speaker 1: I took advantage of an initial offer and I didn't 99 00:04:32,160 --> 00:04:33,719 Speaker 1: think I was going to be a sticky customer, and 100 00:04:33,720 --> 00:04:35,840 Speaker 1: then I ended up being one. For instance, one time 101 00:04:35,839 --> 00:04:37,280 Speaker 1: when I switched banks and that there was, you know, 102 00:04:37,320 --> 00:04:40,520 Speaker 1: an initial bonus to sign up and transfer your money over, 103 00:04:40,680 --> 00:04:43,000 Speaker 1: and I was like, cool, Yeah, I'm totally gonna ditch 104 00:04:43,120 --> 00:04:44,640 Speaker 1: and go back to my bank after I get that 105 00:04:44,680 --> 00:04:47,279 Speaker 1: free money, and I didn't. I ended up liking what 106 00:04:47,320 --> 00:04:49,560 Speaker 1: that bank had to offer and it felt worthwhile. It 107 00:04:49,640 --> 00:04:51,320 Speaker 1: kept him around in my life. So yeah, I'm gonna 108 00:04:51,320 --> 00:04:52,840 Speaker 1: say frugal when you take advantage of one of those 109 00:04:52,839 --> 00:04:55,760 Speaker 1: offers that is readily available, it's frugal, it's not cheap. 110 00:04:55,920 --> 00:04:59,360 Speaker 1: And plus, we're talking about propane taxi a lot right now. 111 00:05:00,800 --> 00:05:03,000 Speaker 1: We have no affiliation with them at all, but it's 112 00:05:03,040 --> 00:05:05,400 Speaker 1: something you and I just felt like discussing. I'm willing 113 00:05:05,400 --> 00:05:06,960 Speaker 1: to bet that they think that this is probably a 114 00:05:07,040 --> 00:05:11,240 Speaker 1: huge win, uh, and that we're actually losing out. All right, man, 115 00:05:11,279 --> 00:05:13,000 Speaker 1: let's go ahead. Take it to the beer. This episode, 116 00:05:13,040 --> 00:05:16,160 Speaker 1: we are drinking a beer by Wild Leap. This one 117 00:05:16,240 --> 00:05:19,039 Speaker 1: is called Time, Love and Tenderness and this is a 118 00:05:19,160 --> 00:05:21,159 Speaker 1: double I p A. I'm looking forward to sharing this 119 00:05:21,160 --> 00:05:23,400 Speaker 1: one with you, buddy, and we'll give our tasing notes 120 00:05:23,480 --> 00:05:25,240 Speaker 1: what we think about this beer at the end of 121 00:05:25,240 --> 00:05:27,920 Speaker 1: the episode. You know it, all right, Matt, onto the 122 00:05:27,960 --> 00:05:30,279 Speaker 1: list of questions that we're gonna answer on today's episode 123 00:05:30,480 --> 00:05:32,440 Speaker 1: for folks that have a question that they want to 124 00:05:32,480 --> 00:05:34,919 Speaker 1: submit for the show. Matt and I would love to 125 00:05:34,920 --> 00:05:37,560 Speaker 1: take your question on a future episode. Just go to 126 00:05:37,640 --> 00:05:40,479 Speaker 1: our website how to money dot com slash ask. You'll 127 00:05:40,480 --> 00:05:42,600 Speaker 1: find the simple directions there for how to submit a 128 00:05:42,720 --> 00:05:44,800 Speaker 1: voice question so we can feature it on the show 129 00:05:44,800 --> 00:05:46,760 Speaker 1: and then answer it. So, Matt, let's get to the 130 00:05:46,800 --> 00:05:50,640 Speaker 1: first one. This one's about asking for a credit limit increase. Hi, 131 00:05:50,800 --> 00:05:54,320 Speaker 1: this is Lisa from Baton Rouge. I recently paid off 132 00:05:54,400 --> 00:05:57,839 Speaker 1: to credit cards and a friend advised that I asked 133 00:05:57,960 --> 00:06:02,120 Speaker 1: for a credit limit in reas on either or both 134 00:06:02,120 --> 00:06:06,080 Speaker 1: of them because she said it would increase my credit score. Now, 135 00:06:06,240 --> 00:06:11,400 Speaker 1: I was planning on leaving the accounts open, not using them, 136 00:06:11,440 --> 00:06:16,600 Speaker 1: and letting the account closing process happen naturally, so to speak. 137 00:06:17,120 --> 00:06:21,000 Speaker 1: So I'm wondering if what she said is accurate and 138 00:06:21,040 --> 00:06:24,400 Speaker 1: if y'all had any advice on that. Thank you, Lisa, 139 00:06:24,400 --> 00:06:27,200 Speaker 1: thanks so much for that question, and congrats on paying 140 00:06:27,200 --> 00:06:30,040 Speaker 1: off your credit card debt. That is awesome. Paying off 141 00:06:30,080 --> 00:06:32,679 Speaker 1: consumer debt, especially spread out over a couple of cards 142 00:06:32,680 --> 00:06:35,360 Speaker 1: like that, that is no easy feat, you know, especially 143 00:06:35,440 --> 00:06:38,479 Speaker 1: during this recession as well, So good job. There takes 144 00:06:38,520 --> 00:06:41,640 Speaker 1: a lot of dedication to make that happen, absolutely so so, Lisa, 145 00:06:41,880 --> 00:06:44,880 Speaker 1: credit limit increases. They are traditionally a great thing to 146 00:06:44,960 --> 00:06:47,520 Speaker 1: ask of your credit card company. They can lift your 147 00:06:47,560 --> 00:06:50,080 Speaker 1: credit score nicely because so much of your score is 148 00:06:50,080 --> 00:06:53,440 Speaker 1: a reflection of how much of your available credit you 149 00:06:53,480 --> 00:06:55,920 Speaker 1: are actually using. So as a reminder, you don't want 150 00:06:55,960 --> 00:06:58,159 Speaker 1: to be using much of your available credit, but you 151 00:06:58,200 --> 00:07:00,400 Speaker 1: do want a lot of it available to you. Yeah, 152 00:07:00,400 --> 00:07:02,279 Speaker 1: it's such an odd system, Matt, that it's set up 153 00:07:02,320 --> 00:07:04,359 Speaker 1: that way, where you look better the more credit you 154 00:07:04,360 --> 00:07:06,520 Speaker 1: have access to, but where you're not using much of it. 155 00:07:06,520 --> 00:07:08,400 Speaker 1: It's very confusing to a lot of people. Yeah, sort 156 00:07:08,400 --> 00:07:10,520 Speaker 1: of like if you have a ferrari, but the credit 157 00:07:10,640 --> 00:07:12,160 Speaker 1: bureaus only when to see you take that up to 158 00:07:12,160 --> 00:07:15,640 Speaker 1: like twenty hour. But that being said, Lisa, you are 159 00:07:15,760 --> 00:07:19,320 Speaker 1: unlikely to get a limit increase in today's environment, credit 160 00:07:19,320 --> 00:07:22,760 Speaker 1: card companies are actually slashing limits because they're worried about 161 00:07:22,840 --> 00:07:25,000 Speaker 1: people relying too much on the credit cards right now. 162 00:07:25,360 --> 00:07:29,280 Speaker 1: So traditionally this is great advice, but it's actually unlikely 163 00:07:29,440 --> 00:07:31,559 Speaker 1: to to work for you right now. Yeah, you probably 164 00:07:31,600 --> 00:07:33,920 Speaker 1: don't want to call your credit card company asking for 165 00:07:34,040 --> 00:07:37,160 Speaker 1: a credit limit increase just because they're likely to say now, 166 00:07:37,280 --> 00:07:39,560 Speaker 1: So probably best to avoid that conversation for the time being. 167 00:07:39,960 --> 00:07:42,280 Speaker 1: And Lisa, you are right to leave those cards open, 168 00:07:42,560 --> 00:07:45,360 Speaker 1: but we would prefer that you actually use them on occasion, right, 169 00:07:45,400 --> 00:07:47,400 Speaker 1: maybe two to four times a year, maybe once a 170 00:07:47,440 --> 00:07:50,840 Speaker 1: month on a recurring monthly subscription something like that, because 171 00:07:50,880 --> 00:07:53,360 Speaker 1: you actually don't want those cards to close. And if 172 00:07:53,360 --> 00:07:55,720 Speaker 1: you leave them open but then stop using them all together, 173 00:07:55,920 --> 00:07:58,080 Speaker 1: eventually that credit card company is going to close it 174 00:07:58,360 --> 00:08:00,760 Speaker 1: for you. Uh, And that's not what you want. Using 175 00:08:00,760 --> 00:08:03,200 Speaker 1: that credit card in a limited fashion and then having 176 00:08:03,240 --> 00:08:06,080 Speaker 1: it paid automatically every single month is going to keep 177 00:08:06,120 --> 00:08:08,480 Speaker 1: that credit score alive in your credit mix, and it's 178 00:08:08,480 --> 00:08:10,640 Speaker 1: going to help out your credit score over time. And 179 00:08:10,720 --> 00:08:12,200 Speaker 1: the great thing is then you don't even really have 180 00:08:12,240 --> 00:08:14,520 Speaker 1: to think about it. That card is helping your score 181 00:08:14,720 --> 00:08:17,560 Speaker 1: in a big way just by using it sparingly and 182 00:08:17,600 --> 00:08:19,720 Speaker 1: then paying off the balance in full every month. Yeah. 183 00:08:19,720 --> 00:08:22,520 Speaker 1: And there are a couple instances though, when we would 184 00:08:22,520 --> 00:08:25,560 Speaker 1: recommend closing a credit card, Lisa. One is you know, 185 00:08:25,600 --> 00:08:27,800 Speaker 1: if you're likely to run up more credit card debt 186 00:08:27,840 --> 00:08:31,280 Speaker 1: by using those cards, because just because that credit is available, right, 187 00:08:31,760 --> 00:08:33,920 Speaker 1: If that's the case, If that's you, then go ahead 188 00:08:33,920 --> 00:08:36,720 Speaker 1: and close those cards. Now, this is an instance where 189 00:08:36,880 --> 00:08:40,679 Speaker 1: knowing yourself and being honest with yourself is really important, honestly, Joe, 190 00:08:40,760 --> 00:08:42,280 Speaker 1: this kind of makes me think of like if someone has, 191 00:08:42,559 --> 00:08:44,840 Speaker 1: you know, say, a drinking problem, right uh, and they 192 00:08:44,880 --> 00:08:47,800 Speaker 1: are quitting alcohol, it's probably not a good idea just 193 00:08:47,800 --> 00:08:50,079 Speaker 1: to keep alcohol just around the house just in case 194 00:08:50,360 --> 00:08:52,720 Speaker 1: you're gonna be more likely to lapse. And you know, 195 00:08:52,760 --> 00:08:55,600 Speaker 1: if someone knows that that's a temptation for them, well 196 00:08:55,600 --> 00:08:57,960 Speaker 1: that's just not a wise move. Having a drink now 197 00:08:58,000 --> 00:08:59,680 Speaker 1: and then it's a good thing, it's something that you 198 00:08:59,720 --> 00:09:01,400 Speaker 1: and I enjoy. But if you know it's going to 199 00:09:01,440 --> 00:09:03,520 Speaker 1: be a problem, just remove it from your life completely. 200 00:09:03,640 --> 00:09:06,560 Speaker 1: I think credit cards are very similar. If you have 201 00:09:06,640 --> 00:09:08,640 Speaker 1: a spending problem, well it's not a good idea just 202 00:09:08,679 --> 00:09:11,120 Speaker 1: to keep these cards with high credit limits available to 203 00:09:11,160 --> 00:09:13,920 Speaker 1: you just sitting around. And then another instance where you'd 204 00:09:13,920 --> 00:09:15,840 Speaker 1: want to close the cards is if it has an 205 00:09:15,840 --> 00:09:19,480 Speaker 1: annual fee and you aren't taking advantage of those extra benefits. 206 00:09:19,880 --> 00:09:21,680 Speaker 1: There are a lot of great cards out there that 207 00:09:21,720 --> 00:09:25,240 Speaker 1: have no annual fee with great benefits, especially cash back. Juel, 208 00:09:25,280 --> 00:09:27,240 Speaker 1: I know that you're a big fan of the City 209 00:09:27,360 --> 00:09:29,840 Speaker 1: Double Cash card, where you are two percent on every 210 00:09:29,840 --> 00:09:32,800 Speaker 1: single purchase. Yeah, keeps it simple on everything. Yeah. I 211 00:09:32,920 --> 00:09:34,680 Speaker 1: love that. Uh, and so we'll link to that card 212 00:09:34,720 --> 00:09:36,720 Speaker 1: in our show notes. But there are a lot of 213 00:09:36,720 --> 00:09:39,120 Speaker 1: cards like that one that have no annual fee every 214 00:09:39,120 --> 00:09:41,000 Speaker 1: single year, and you can take advantage of some of 215 00:09:41,000 --> 00:09:43,839 Speaker 1: those benefits without having to pay extra. Yeah. All right, Matt, 216 00:09:43,840 --> 00:09:45,880 Speaker 1: We're gonna get to you some more questions, including the 217 00:09:45,880 --> 00:09:48,080 Speaker 1: one about the path to homeownership. How you start to 218 00:09:48,080 --> 00:09:49,920 Speaker 1: even think about buying a house, what that looks like. 219 00:09:49,960 --> 00:10:01,960 Speaker 1: We'll get to that and more questions right after the break. Alright, Joel, 220 00:10:02,000 --> 00:10:04,400 Speaker 1: back from the break. He's still hanging in there. I'm here, buddy, 221 00:10:04,559 --> 00:10:06,400 Speaker 1: I'm ready. All right, Before we get to that question 222 00:10:06,440 --> 00:10:08,719 Speaker 1: about home ownership, let's get to a question about how 223 00:10:08,760 --> 00:10:11,480 Speaker 1: to you go about paying off a loan. Hey, Matt 224 00:10:11,520 --> 00:10:15,839 Speaker 1: and Joel, this is Cassie from Liberty, Missouri. I love 225 00:10:15,880 --> 00:10:18,800 Speaker 1: your show. I love that you drink beer. Makes my 226 00:10:18,880 --> 00:10:23,079 Speaker 1: day anyway. Um, we have an installment loan that we 227 00:10:23,200 --> 00:10:25,760 Speaker 1: got a couple of years ago for some sighting and 228 00:10:25,840 --> 00:10:32,600 Speaker 1: windows on a property. It's six with a maturity date 229 00:10:32,720 --> 00:10:38,760 Speaker 1: of This is the only debt we have besides our home. 230 00:10:39,760 --> 00:10:42,280 Speaker 1: We want to get this paid off as soon as possible. 231 00:10:42,559 --> 00:10:45,560 Speaker 1: I don't want to pay this interest rate forever. What 232 00:10:45,640 --> 00:10:49,400 Speaker 1: are my options? We want to pay it off very quickly, 233 00:10:50,200 --> 00:10:52,320 Speaker 1: especially with the economy like it is in the interest 234 00:10:52,400 --> 00:10:56,440 Speaker 1: rates being low, but we're just looking for options. I 235 00:10:56,440 --> 00:10:59,720 Speaker 1: don't really know what to do with it. Any advice 236 00:11:00,240 --> 00:11:04,520 Speaker 1: or help would be much appreciated. Thank you, Cassie. Thanks 237 00:11:04,520 --> 00:11:06,520 Speaker 1: for your question. By the way, drinking a good beer 238 00:11:06,720 --> 00:11:08,760 Speaker 1: makes our days too, doesn't Matt. Yeah, I'm glad to 239 00:11:08,800 --> 00:11:13,160 Speaker 1: hear that she enjoys us enjoying a beer. That makes 240 00:11:13,160 --> 00:11:15,480 Speaker 1: me happy. All right, Cassie, let's get onto your question 241 00:11:15,480 --> 00:11:18,480 Speaker 1: about paying off an installment loan, and we we so 242 00:11:18,760 --> 00:11:21,439 Speaker 1: love your motivation to pay off that debt quickly. Seven 243 00:11:21,480 --> 00:11:24,600 Speaker 1: percent is an expensive interest rate, especially in today's environment, 244 00:11:24,840 --> 00:11:26,959 Speaker 1: and you definitely don't want to be paying on that 245 00:11:27,000 --> 00:11:30,000 Speaker 1: loan for the next nine years. But you also don't 246 00:11:30,000 --> 00:11:32,680 Speaker 1: want to pay off that installment loan by any means necessary. 247 00:11:32,760 --> 00:11:34,480 Speaker 1: Right there. There are certain things you need to take 248 00:11:34,520 --> 00:11:37,720 Speaker 1: into consideration before you aim all of your money arsenal 249 00:11:37,800 --> 00:11:40,160 Speaker 1: at this at this debt, and in particular, given the 250 00:11:40,200 --> 00:11:42,240 Speaker 1: trying times we find ourselves in, you don't want to 251 00:11:42,240 --> 00:11:44,320 Speaker 1: wipe out all of your emergency fund that you have 252 00:11:44,400 --> 00:11:46,880 Speaker 1: saved up. You you want to be able to maintain 253 00:11:46,920 --> 00:11:49,880 Speaker 1: at least some financial margin right now, even while you're 254 00:11:49,880 --> 00:11:52,960 Speaker 1: making paying off this debt a big priority in your life. Yeah, exactly, 255 00:11:52,960 --> 00:11:54,559 Speaker 1: you don't want to completely wipe out all of your 256 00:11:54,600 --> 00:11:57,839 Speaker 1: cash reserves to just pay down this installment loan and 257 00:11:57,960 --> 00:12:00,640 Speaker 1: Cassie Let's mention credit cards as well. You know, since 258 00:12:00,679 --> 00:12:03,439 Speaker 1: this installment alone was used for home improvement, it sounds 259 00:12:03,480 --> 00:12:05,280 Speaker 1: like you might have a larger balance, and so you 260 00:12:05,320 --> 00:12:08,000 Speaker 1: may not be able to do a balanced transfer and 261 00:12:08,040 --> 00:12:10,280 Speaker 1: pay off that installment alone with a zero percent balance 262 00:12:10,360 --> 00:12:13,200 Speaker 1: transfer credit card. And even if you could, you probably 263 00:12:13,400 --> 00:12:15,560 Speaker 1: wouldn't want to because if you were to do that, 264 00:12:15,600 --> 00:12:18,040 Speaker 1: the clock would then be ticking on that credit card 265 00:12:18,320 --> 00:12:20,959 Speaker 1: and you might only have fifteen months or or maybe 266 00:12:21,000 --> 00:12:23,720 Speaker 1: at most twenty one months to pay off that card. 267 00:12:23,960 --> 00:12:25,600 Speaker 1: And you don't want to put yourself in a position 268 00:12:25,720 --> 00:12:28,120 Speaker 1: where you're gonna see the interest rate really go sky 269 00:12:28,200 --> 00:12:31,840 Speaker 1: high after that zero percent window has expired. Yeah. So, ultimately, 270 00:12:31,880 --> 00:12:34,240 Speaker 1: for Cassie, Matt, you and I think that a helock 271 00:12:34,640 --> 00:12:37,480 Speaker 1: is is ideal for her. Rates on those are roughly 272 00:12:37,600 --> 00:12:40,560 Speaker 1: half of what Cassie is currently paying, and there are 273 00:12:40,600 --> 00:12:43,760 Speaker 1: typically no closing costs associated with with getting a helock. 274 00:12:44,120 --> 00:12:46,760 Speaker 1: Rates are so low they're very competitive, and so yeah, 275 00:12:46,800 --> 00:12:48,960 Speaker 1: that's the direction that Cassie, we would suggest you go 276 00:12:49,000 --> 00:12:51,760 Speaker 1: in in order to make sure more of your money, 277 00:12:51,760 --> 00:12:53,960 Speaker 1: more of your payments are going towards eliminating the debt, 278 00:12:54,000 --> 00:12:56,360 Speaker 1: not just going towards interest. One other thing that makes 279 00:12:56,360 --> 00:12:58,720 Speaker 1: the helock even a better idea right now is that 280 00:12:58,880 --> 00:13:02,080 Speaker 1: the Federal Reserve has indicated that they're gonna keep rates 281 00:13:02,080 --> 00:13:05,200 Speaker 1: low for a while in all likelihood through two. A 282 00:13:05,200 --> 00:13:07,000 Speaker 1: home equity line of credit does not come with a 283 00:13:07,000 --> 00:13:09,960 Speaker 1: fixed rate, and that is one downside of the helock, 284 00:13:10,080 --> 00:13:11,840 Speaker 1: right that your rate can increase over the life of 285 00:13:11,840 --> 00:13:13,959 Speaker 1: the loan, But because of the likelihood that that rates 286 00:13:14,000 --> 00:13:15,640 Speaker 1: are not going to go up in the next few years, 287 00:13:15,800 --> 00:13:17,840 Speaker 1: that makes the helock a whole lot less risky. So 288 00:13:17,880 --> 00:13:20,640 Speaker 1: while current borrowers have seen their rates decline, which is 289 00:13:20,640 --> 00:13:23,040 Speaker 1: awesome if you currently have a helock, if you take 290 00:13:23,040 --> 00:13:25,080 Speaker 1: out a loan right now, you will likely see your 291 00:13:25,160 --> 00:13:28,400 Speaker 1: rate rise at some point during the payoff period. But 292 00:13:28,480 --> 00:13:31,040 Speaker 1: with how low rates are currently, with how low we 293 00:13:31,080 --> 00:13:33,199 Speaker 1: expect them to be over the next few years. I 294 00:13:33,240 --> 00:13:35,840 Speaker 1: think it's not a terribly risky position to put yourself in. 295 00:13:35,960 --> 00:13:38,319 Speaker 1: You're gonna be able to pay off so much in 296 00:13:38,320 --> 00:13:40,360 Speaker 1: in the next three or four years that by the 297 00:13:40,400 --> 00:13:43,240 Speaker 1: time rates do potentially start to rise, I think your 298 00:13:43,280 --> 00:13:45,360 Speaker 1: your balance is just gonna be so much lower that 299 00:13:45,520 --> 00:13:47,920 Speaker 1: a helock still makes the most sense. Yeah, it is 300 00:13:47,960 --> 00:13:50,480 Speaker 1: a perfect time to get a helock, that is, if 301 00:13:50,559 --> 00:13:53,160 Speaker 1: you can secure one. One other thing to keep in 302 00:13:53,280 --> 00:13:55,640 Speaker 1: mind is that a lot of the bigger banks aren't 303 00:13:55,640 --> 00:13:59,360 Speaker 1: currently offering helocks. But that's actually fine, because we'd want 304 00:13:59,360 --> 00:14:02,000 Speaker 1: you to look round to some local small banks or 305 00:14:02,120 --> 00:14:05,920 Speaker 1: local credit unions where many are still offering helocks. So 306 00:14:06,040 --> 00:14:08,360 Speaker 1: you know, in the end, helock will likely be the 307 00:14:08,400 --> 00:14:10,960 Speaker 1: best option for you because you're going to be drastically 308 00:14:10,960 --> 00:14:13,720 Speaker 1: cutting your right now, making it easier to pay down 309 00:14:13,720 --> 00:14:17,000 Speaker 1: the loan more quickly. So Cassie, do some shopping locally 310 00:14:17,240 --> 00:14:19,000 Speaker 1: for a helock, and yeah, see what kind of rate 311 00:14:19,040 --> 00:14:21,080 Speaker 1: you can get, no doubt, all right, and helocks matt 312 00:14:21,160 --> 00:14:23,600 Speaker 1: or associated with home ownership, and that is what our 313 00:14:23,640 --> 00:14:26,320 Speaker 1: next question is about. Hey Man and Joel, I hope 314 00:14:26,360 --> 00:14:28,680 Speaker 1: you guys are doing Well, my name is John. I'm 315 00:14:28,680 --> 00:14:31,080 Speaker 1: from Los Angeles, California. I just want to start off 316 00:14:31,120 --> 00:14:33,000 Speaker 1: by saying how much of a fan I am. I 317 00:14:33,120 --> 00:14:35,280 Speaker 1: listened every episode and I even write down notes in 318 00:14:35,320 --> 00:14:38,040 Speaker 1: a journal. Because of your advice, I was able to 319 00:14:38,040 --> 00:14:39,800 Speaker 1: pay off all of my credit card debt in school, 320 00:14:39,800 --> 00:14:41,800 Speaker 1: a loan, and even starting h s A, a RATH 321 00:14:41,840 --> 00:14:44,480 Speaker 1: and a high interest savings account. I have a quick 322 00:14:44,560 --> 00:14:47,800 Speaker 1: question for you guys about home ownership. My next financial 323 00:14:47,800 --> 00:14:49,240 Speaker 1: goal was to be able to own a house, but 324 00:14:49,320 --> 00:14:51,880 Speaker 1: given the renting culture and high rent coss in California, 325 00:14:52,000 --> 00:14:54,080 Speaker 1: I'm not really sure how to start or even where 326 00:14:54,120 --> 00:14:57,560 Speaker 1: to look. For context, I previously live in San Francisco. 327 00:14:57,880 --> 00:15:00,880 Speaker 1: We're renting an apartment, usually at a high cost, seems 328 00:15:00,920 --> 00:15:03,000 Speaker 1: to be the norm, so the idea of actually owning 329 00:15:03,080 --> 00:15:06,360 Speaker 1: a house seems a little foreign to me. Any guidance 330 00:15:06,400 --> 00:15:10,400 Speaker 1: on starting name path towards homeownership would be amazing. Thanks guys, Joel. 331 00:15:10,400 --> 00:15:12,480 Speaker 1: I don't know if you heard that question, but John 332 00:15:12,560 --> 00:15:15,320 Speaker 1: is getting after it man. That is amazing, paying down 333 00:15:15,440 --> 00:15:18,680 Speaker 1: all those debts and killing student loans. Uh. And he 334 00:15:18,760 --> 00:15:21,600 Speaker 1: started investing in hs A and a ROTH. That's amazing. Yeah, 335 00:15:21,680 --> 00:15:25,440 Speaker 1: And he's taking notes during the podcast. That's super impressive 336 00:15:25,480 --> 00:15:27,880 Speaker 1: that maybe our show, notut should be a little more detailed, John, 337 00:15:28,080 --> 00:15:29,240 Speaker 1: So you don't have to do that. I don't know, 338 00:15:29,400 --> 00:15:31,640 Speaker 1: But let's talk about John's question in the path to 339 00:15:31,720 --> 00:15:34,760 Speaker 1: home ownership, John, first, you need to decide if that's 340 00:15:34,800 --> 00:15:37,040 Speaker 1: the path you actually want to be on when you 341 00:15:37,040 --> 00:15:40,200 Speaker 1: start looking at numbers. Homeownership is definitely not a slam 342 00:15:40,280 --> 00:15:43,280 Speaker 1: dunk for everyone. There are a lot of additional expenses 343 00:15:43,600 --> 00:15:46,800 Speaker 1: that hopeful homeowners overlook. It's so easy to get starry 344 00:15:46,800 --> 00:15:49,640 Speaker 1: eyes when you're looking at homes on red fin or 345 00:15:49,680 --> 00:15:52,800 Speaker 1: zillo dot com and to imagine yourself living in this 346 00:15:52,840 --> 00:15:55,080 Speaker 1: new place and crunching the numbers can fall by the 347 00:15:55,080 --> 00:15:57,520 Speaker 1: wayside because we fall in love with the idea of 348 00:15:57,560 --> 00:16:00,400 Speaker 1: owning our own place. And John, in particular, because you 349 00:16:00,400 --> 00:16:03,640 Speaker 1: live in an expensive city, that means it's even less 350 00:16:03,680 --> 00:16:05,640 Speaker 1: likely to make sense for you to buy a home, 351 00:16:06,080 --> 00:16:09,480 Speaker 1: and in particular, in expensive cities, primary residents can often 352 00:16:09,520 --> 00:16:12,880 Speaker 1: be terrible investments. And Matt, we've talked overall about how 353 00:16:13,000 --> 00:16:16,280 Speaker 1: home ownership, Buying a home is not necessarily a good 354 00:16:16,280 --> 00:16:19,360 Speaker 1: financial move, and in many cases it's a terrible financial move. 355 00:16:19,520 --> 00:16:22,320 Speaker 1: We talked about that in detail John on episode thirty, 356 00:16:22,560 --> 00:16:24,200 Speaker 1: if you want to check that one out. So, if 357 00:16:24,200 --> 00:16:26,920 Speaker 1: you're just crunching the numbers, renting might continue to make 358 00:16:26,960 --> 00:16:29,360 Speaker 1: the most sense, although it doesn't necessarily mean that you 359 00:16:29,360 --> 00:16:31,240 Speaker 1: shouldn't buy home. It just means that it might not 360 00:16:31,280 --> 00:16:33,400 Speaker 1: make the most financial sense for you. Yeah, And another 361 00:16:33,440 --> 00:16:35,640 Speaker 1: thing to consider too is that home ownership it's about 362 00:16:35,680 --> 00:16:38,360 Speaker 1: more than just the dollars. It's more than just about 363 00:16:38,360 --> 00:16:41,720 Speaker 1: the money, right, There's a sense of place and permanence 364 00:16:42,000 --> 00:16:44,240 Speaker 1: that you can get from owning a home, uh and 365 00:16:44,240 --> 00:16:46,800 Speaker 1: feeling rooted to a spot. But it's a good thing 366 00:16:46,880 --> 00:16:49,200 Speaker 1: to think through whether or not this is something that 367 00:16:49,280 --> 00:16:51,360 Speaker 1: is really important to you. You know, maybe a good 368 00:16:51,440 --> 00:16:54,000 Speaker 1: question to ask yourself is, you know, have I even 369 00:16:54,080 --> 00:16:56,520 Speaker 1: enjoyed being at home during you know, sheltering in place, 370 00:16:56,960 --> 00:16:59,120 Speaker 1: if house projects, and in gardening. If that sounds like 371 00:16:59,160 --> 00:17:01,800 Speaker 1: fun to you, then buying a home sounds like it 372 00:17:01,840 --> 00:17:04,359 Speaker 1: could be a good fit. But if you've been issuing 373 00:17:04,440 --> 00:17:06,200 Speaker 1: to get back to traveling and you know, maybe seeing 374 00:17:06,200 --> 00:17:09,080 Speaker 1: friends in other cities, then maybe owning your own home, 375 00:17:09,080 --> 00:17:10,879 Speaker 1: owning your own house, maybe that's not going to be 376 00:17:10,960 --> 00:17:12,840 Speaker 1: a good idea for you. Yeah, and in a place 377 00:17:12,840 --> 00:17:14,840 Speaker 1: like San Francisco, you might not even have access to 378 00:17:14,840 --> 00:17:17,000 Speaker 1: any sort of place to to grow a garden. I 379 00:17:17,040 --> 00:17:19,000 Speaker 1: don't know, I don't know, but yeah, and that's all 380 00:17:19,119 --> 00:17:21,679 Speaker 1: square foot gardening. You grow, you go verticals. Okay, all right, 381 00:17:22,280 --> 00:17:25,320 Speaker 1: so yeah, John. Another lifestyle consideration is knowing and and 382 00:17:25,359 --> 00:17:27,480 Speaker 1: even committing to being able to live in that house 383 00:17:27,480 --> 00:17:30,560 Speaker 1: for a certain amount of time. Five years is often recommended, 384 00:17:30,600 --> 00:17:31,960 Speaker 1: but but we like to air on the side of 385 00:17:31,960 --> 00:17:33,760 Speaker 1: caution and say that if you're gonna buy a house, 386 00:17:33,840 --> 00:17:35,640 Speaker 1: you should really plan to live there for at least 387 00:17:35,640 --> 00:17:39,199 Speaker 1: seven years. That's because of the massive transaction costs associated 388 00:17:39,200 --> 00:17:41,159 Speaker 1: with buying or selling a home. The great thing is, 389 00:17:41,200 --> 00:17:43,080 Speaker 1: if you're buying a home right now, you can lock 390 00:17:43,119 --> 00:17:45,720 Speaker 1: in a fixed rate for a long period of time 391 00:17:45,960 --> 00:17:49,560 Speaker 1: that is incredibly low, making it potentially a better decision 392 00:17:49,600 --> 00:17:51,640 Speaker 1: to buy right now. Yeah. Rates are close to two 393 00:17:51,680 --> 00:17:54,080 Speaker 1: ten year lows right now, Yeah, which which could lower 394 00:17:54,280 --> 00:17:57,240 Speaker 1: your monthly costs right on on your mortgage, which helps 395 00:17:57,280 --> 00:17:59,800 Speaker 1: put a positive check mark in that column of wanting 396 00:17:59,800 --> 00:18:02,240 Speaker 1: to buy a home. But don't forget that if you 397 00:18:02,280 --> 00:18:04,720 Speaker 1: decide to sell your home within just a few years. 398 00:18:04,960 --> 00:18:07,959 Speaker 1: Even if phone prices haven't gone down, because of just 399 00:18:08,040 --> 00:18:11,439 Speaker 1: those transaction costs of real estate agents and closing costs, 400 00:18:11,680 --> 00:18:13,400 Speaker 1: you you could be taking a loss on that home. 401 00:18:13,560 --> 00:18:14,960 Speaker 1: And so yeah, you're gonna want to be able to 402 00:18:15,000 --> 00:18:18,120 Speaker 1: commit to staying in that place for at least seven years. Yes, 403 00:18:18,200 --> 00:18:20,800 Speaker 1: six percent alone, just in realtor fees can be a 404 00:18:20,800 --> 00:18:22,800 Speaker 1: lot of money when it comes time to sell, Yeah, 405 00:18:22,840 --> 00:18:25,040 Speaker 1: for sure. So John, let's assume though, that you've thought 406 00:18:25,040 --> 00:18:26,439 Speaker 1: through all these things, you do want to buy a 407 00:18:26,440 --> 00:18:29,199 Speaker 1: home and you're ready to maybe pull the trigger. It 408 00:18:29,320 --> 00:18:33,080 Speaker 1: is important to save up. A healthy down payment is 409 00:18:33,240 --> 00:18:35,760 Speaker 1: ideal to qualify for the best rates out there and 410 00:18:35,840 --> 00:18:38,320 Speaker 1: to avoid p M. I Also, you want to make 411 00:18:38,359 --> 00:18:40,080 Speaker 1: sure that your credit score is in great shape too, 412 00:18:40,359 --> 00:18:42,439 Speaker 1: in order to get the best rates. And you can 413 00:18:42,480 --> 00:18:44,399 Speaker 1: also ensure that you get the best rate by shopping 414 00:18:44,400 --> 00:18:47,080 Speaker 1: around with a minimum of three lenders. But you know what, 415 00:18:47,119 --> 00:18:49,080 Speaker 1: we would even prefer more than that if you can 416 00:18:49,119 --> 00:18:50,800 Speaker 1: kind of nerd out a little bit and shop it 417 00:18:51,000 --> 00:18:53,600 Speaker 1: by maybe two more lenders and have a total of five. 418 00:18:53,760 --> 00:18:55,719 Speaker 1: You just want to make sure that you are really 419 00:18:55,760 --> 00:18:58,280 Speaker 1: getting the best rate, and you do that by comparing 420 00:18:58,680 --> 00:19:00,840 Speaker 1: and so Once you have financings right away, the next 421 00:19:00,880 --> 00:19:03,080 Speaker 1: thing you wanna do is to get some recommendations on 422 00:19:03,119 --> 00:19:06,520 Speaker 1: a great realtor who has a lot of experience helping 423 00:19:06,560 --> 00:19:09,920 Speaker 1: buyers and sellers in the specific location that you hope 424 00:19:09,920 --> 00:19:11,919 Speaker 1: to buy a home in. You want to tour a 425 00:19:12,040 --> 00:19:14,760 Speaker 1: lot of homes, get an inspection. Uh, there's a lot 426 00:19:14,800 --> 00:19:18,200 Speaker 1: of details involved with the actual home buying process, but again, 427 00:19:18,240 --> 00:19:21,200 Speaker 1: a great realtor will help you tremendously and will help 428 00:19:21,240 --> 00:19:24,000 Speaker 1: you to, you know, walk through that entire process. Yeah, Matt, 429 00:19:24,040 --> 00:19:25,199 Speaker 1: you said to our a lot of homes. I think 430 00:19:25,240 --> 00:19:27,359 Speaker 1: that's really crucial. I think I think anybody shopping in 431 00:19:27,400 --> 00:19:30,840 Speaker 1: particular for their first home should should step foot in 432 00:19:30,840 --> 00:19:33,159 Speaker 1: in at least ten homes, and honestly, probably more like 433 00:19:33,200 --> 00:19:36,400 Speaker 1: twenty because there are so many idiosyncrasies to houses. Every 434 00:19:36,440 --> 00:19:39,280 Speaker 1: neighborhood is different, every home is different. So the more 435 00:19:39,320 --> 00:19:41,879 Speaker 1: that you can walk around houses and see what's different, 436 00:19:41,920 --> 00:19:44,439 Speaker 1: what's unique, the more that can help you become an 437 00:19:44,440 --> 00:19:46,800 Speaker 1: informed buyer. And that part of the equation actually typically 438 00:19:46,840 --> 00:19:48,480 Speaker 1: gets people excited. Cool, I want to go look at 439 00:19:48,480 --> 00:19:50,560 Speaker 1: ten or twenty homes, But the thing that doesn't typically 440 00:19:50,600 --> 00:19:53,520 Speaker 1: excite people is shopping uh their rate with different lenders 441 00:19:53,680 --> 00:19:56,320 Speaker 1: and getting different quotes and comparing the apples to apples. 442 00:19:56,480 --> 00:19:58,119 Speaker 1: But that is something that you and I are proponents of. 443 00:19:58,359 --> 00:20:00,000 Speaker 1: It might be a little nerdy, not quite as fun 444 00:20:00,160 --> 00:20:02,120 Speaker 1: as going and touring a bunch of homes, but it's 445 00:20:02,160 --> 00:20:04,520 Speaker 1: something that's super necessary if you want to lower those 446 00:20:04,520 --> 00:20:07,119 Speaker 1: monthly costs of voting at home. That's right, man. All right, 447 00:20:07,160 --> 00:20:08,680 Speaker 1: We've got a couple more questions we're gonna get to 448 00:20:08,680 --> 00:20:11,120 Speaker 1: you after the break, including that one about bikes, as 449 00:20:11,119 --> 00:20:13,880 Speaker 1: well as selling some company's stock. We'll get to those 450 00:20:13,920 --> 00:20:25,800 Speaker 1: in a minute. All right, Matt, we're back from the break, 451 00:20:25,960 --> 00:20:29,159 Speaker 1: and the next question up is one about selling company stock. 452 00:20:29,440 --> 00:20:33,200 Speaker 1: That's appreciated nicely. Hi, Joel and Matt. This is Megan 453 00:20:33,320 --> 00:20:37,199 Speaker 1: from Sunny San Diego, California. Currently, my company's stock is 454 00:20:37,200 --> 00:20:39,200 Speaker 1: at an all time high, and if I sell both 455 00:20:39,240 --> 00:20:41,320 Speaker 1: my long term and some of my short term stock, 456 00:20:41,720 --> 00:20:43,800 Speaker 1: I could pay off all of my high interest credit 457 00:20:43,800 --> 00:20:47,240 Speaker 1: card debt. I'm wondering if I should sell just enough 458 00:20:47,280 --> 00:20:50,560 Speaker 1: to cover my debt, only sell my long term stock 459 00:20:50,680 --> 00:20:54,120 Speaker 1: to avoid the short term capital gains tax, or let 460 00:20:54,119 --> 00:20:56,919 Speaker 1: it continue to rise. I do have savings and a 461 00:20:56,960 --> 00:20:59,439 Speaker 1: four oh one. K. Well, thank you so much for 462 00:20:59,480 --> 00:21:02,360 Speaker 1: taking my carne Cheers, Joel. First of all, I feel 463 00:21:02,359 --> 00:21:04,159 Speaker 1: like Megan's maybe rubbing it in a little bit. She 464 00:21:04,160 --> 00:21:06,159 Speaker 1: lives in sunny San Diego. We get it, Megan. You 465 00:21:06,200 --> 00:21:08,040 Speaker 1: live in a great town with great craft beer and 466 00:21:08,040 --> 00:21:10,920 Speaker 1: it's always great weather. We understand, that's right. What's your 467 00:21:11,160 --> 00:21:14,120 Speaker 1: your favorite brewery there in San Diego? Modern Times is there? 468 00:21:14,200 --> 00:21:16,520 Speaker 1: Modern Times is excellent. I've been to Al Smith that's 469 00:21:16,520 --> 00:21:18,440 Speaker 1: an excellent spot as well. But like there's too many 470 00:21:18,440 --> 00:21:20,920 Speaker 1: account like it's really it's really just too hard to 471 00:21:21,040 --> 00:21:23,959 Speaker 1: name a favorite brewery in California or San Diego in particular. 472 00:21:24,000 --> 00:21:25,360 Speaker 1: It's a good place to live, for sure. I've heard 473 00:21:25,359 --> 00:21:27,600 Speaker 1: this one. They're called Pure Project. That's supposed to be 474 00:21:27,640 --> 00:21:30,000 Speaker 1: really good as well. I don't think they distribute, though, 475 00:21:30,080 --> 00:21:32,600 Speaker 1: so we'll see. And I'm also a little curious to 476 00:21:33,040 --> 00:21:35,520 Speaker 1: what company Megan works for, because she said that her 477 00:21:35,600 --> 00:21:38,760 Speaker 1: company stock is doing really well during these difficult, kind 478 00:21:38,760 --> 00:21:41,440 Speaker 1: of weird times, and so, like I know, she doesn't 479 00:21:41,440 --> 00:21:44,000 Speaker 1: work for J. C. Penny. Probably not one of the 480 00:21:44,040 --> 00:21:48,240 Speaker 1: airlines either, Yeah, exactly. Yeah, But I think let's get 481 00:21:48,240 --> 00:21:50,160 Speaker 1: to the heart of Megan's question, And man, I think 482 00:21:50,200 --> 00:21:52,800 Speaker 1: like our first response when when we heard Bangan's question 483 00:21:52,920 --> 00:21:55,199 Speaker 1: was heck, yes, you should tell right if your if 484 00:21:55,240 --> 00:21:58,920 Speaker 1: your company stock has risen this much and you have 485 00:21:59,119 --> 00:22:01,280 Speaker 1: high interest credit card debt at the same time, you 486 00:22:01,320 --> 00:22:03,320 Speaker 1: should sell it and pay that credit card debt off. 487 00:22:03,720 --> 00:22:06,480 Speaker 1: And and and in Megan's questions, she said, or should I 488 00:22:06,520 --> 00:22:08,879 Speaker 1: continue to let it rise? And if if any of 489 00:22:08,960 --> 00:22:11,200 Speaker 1: us could predict the future and know that this stock 490 00:22:11,280 --> 00:22:13,320 Speaker 1: was going to continue to rise, well then I think 491 00:22:13,359 --> 00:22:15,520 Speaker 1: we might have a different take, right. But but none 492 00:22:15,520 --> 00:22:18,160 Speaker 1: of us knows the future of of Megan's company, It's 493 00:22:18,240 --> 00:22:20,639 Speaker 1: particular stock. We don't have any insight as to what 494 00:22:20,680 --> 00:22:23,159 Speaker 1: the stock market is going to do tomorrow or a 495 00:22:23,240 --> 00:22:25,440 Speaker 1: year from now. But what we do know is is 496 00:22:25,480 --> 00:22:28,720 Speaker 1: that credit card debt will eat you alive with interest 497 00:22:28,800 --> 00:22:34,280 Speaker 1: rates that never stop in the range. So I think 498 00:22:34,280 --> 00:22:36,639 Speaker 1: it's a fairly easy decision in our minds, right to 499 00:22:36,680 --> 00:22:38,840 Speaker 1: sell all the stock, pay off your debt, be done 500 00:22:38,840 --> 00:22:40,840 Speaker 1: with credit card debts, and then Megan, do your best 501 00:22:41,240 --> 00:22:43,320 Speaker 1: not to run up those credit cards anymore, not to 502 00:22:43,400 --> 00:22:45,239 Speaker 1: do any spending on them that you can't pay off 503 00:22:45,240 --> 00:22:47,320 Speaker 1: at the end of the month. Yeah, Joe, I totally agree, 504 00:22:47,320 --> 00:22:49,560 Speaker 1: you know, Megan, even though it's worked out for you 505 00:22:49,800 --> 00:22:52,560 Speaker 1: up until now, Like, we're not huge fans of of 506 00:22:52,600 --> 00:22:55,159 Speaker 1: having really any company's stock in your portfolio, like I 507 00:22:55,160 --> 00:22:58,240 Speaker 1: personally would have none. There's just too much risk having 508 00:22:58,560 --> 00:23:02,720 Speaker 1: both your paycheck in your investments with one single company. Uh. 509 00:23:02,800 --> 00:23:04,879 Speaker 1: You know, so you'd be lowering your risk in multiple 510 00:23:04,920 --> 00:23:07,560 Speaker 1: ways by selling the stock and getting rid of your 511 00:23:07,600 --> 00:23:10,160 Speaker 1: credit card debt. You know, if your company is offering, 512 00:23:10,280 --> 00:23:13,159 Speaker 1: you know, an E SPP employee stock purchase plan, go 513 00:23:13,200 --> 00:23:15,199 Speaker 1: ahead and do get those shares at a discount, but 514 00:23:15,240 --> 00:23:18,320 Speaker 1: then sell them as soon as possible. Otherwise we would 515 00:23:18,320 --> 00:23:21,240 Speaker 1: recommend that you just stick with widely diversified, low cost 516 00:23:21,320 --> 00:23:23,560 Speaker 1: index funds, and you can get those with our favorites 517 00:23:23,600 --> 00:23:26,639 Speaker 1: Fidelity and Vanguard. Yes, so I think basically Megan's going 518 00:23:26,680 --> 00:23:28,520 Speaker 1: to get the best of both worlds. Where she scored 519 00:23:28,560 --> 00:23:31,439 Speaker 1: really big with her company stock and had this just 520 00:23:31,480 --> 00:23:33,399 Speaker 1: incredible ability to be able to get rid of her 521 00:23:33,400 --> 00:23:35,800 Speaker 1: credit card debt and one fell swoop, and when she 522 00:23:35,960 --> 00:23:38,000 Speaker 1: sells her stock in order to pay off that credit 523 00:23:38,000 --> 00:23:40,359 Speaker 1: card debt, she's doing something else that's great. She won't 524 00:23:40,400 --> 00:23:43,640 Speaker 1: have nearly as much writing on her employer right her paycheck, 525 00:23:43,760 --> 00:23:45,760 Speaker 1: and then also a good bit of her investments. So Matt, 526 00:23:45,760 --> 00:23:48,359 Speaker 1: I I totally agree. I think selling it getting rid 527 00:23:48,400 --> 00:23:50,679 Speaker 1: of the debt, It's really helpful for Megan's finances in 528 00:23:50,760 --> 00:23:53,080 Speaker 1: multiple ways. Nice all right, Joel, So you and I 529 00:23:53,119 --> 00:23:55,280 Speaker 1: we love bikes. Our next question has to do with 530 00:23:55,560 --> 00:23:57,800 Speaker 1: biking with your kid, So let's go ahead and hear 531 00:23:57,840 --> 00:24:01,200 Speaker 1: that one. Angel and Matt. This is Alec from Los Angeles. 532 00:24:01,560 --> 00:24:04,800 Speaker 1: I love listening to your podcast. Thanks so much for 533 00:24:04,840 --> 00:24:07,320 Speaker 1: all the information you provide me and all your listeners. 534 00:24:07,440 --> 00:24:10,199 Speaker 1: You guys do a great job. I actually have a 535 00:24:10,280 --> 00:24:13,639 Speaker 1: question that deals with your passion for bikes and cycling. 536 00:24:14,080 --> 00:24:17,040 Speaker 1: I recently sold my old, but still in great shape 537 00:24:17,119 --> 00:24:20,040 Speaker 1: road bike. I decided to sell it because I hadn't 538 00:24:20,119 --> 00:24:22,639 Speaker 1: been on it in a while, but the main reason 539 00:24:22,680 --> 00:24:25,280 Speaker 1: I sold it was to try to make some money 540 00:24:25,320 --> 00:24:27,439 Speaker 1: in order to purchase a new bike to take my 541 00:24:27,520 --> 00:24:30,399 Speaker 1: sixteen month old daughter on rides with me using a 542 00:24:30,480 --> 00:24:33,400 Speaker 1: rear mounted child's seat. I'm very much a novice when 543 00:24:33,440 --> 00:24:35,679 Speaker 1: it comes to bikes and everything that goes into the 544 00:24:35,720 --> 00:24:37,760 Speaker 1: things I should look for in a bike, but I 545 00:24:37,840 --> 00:24:40,160 Speaker 1: definitely know that a road bike is not the best 546 00:24:40,200 --> 00:24:43,480 Speaker 1: option for adding a child seat. Consider myself a tall 547 00:24:43,480 --> 00:24:46,080 Speaker 1: guy six too, and adding a child seat in the 548 00:24:46,119 --> 00:24:48,600 Speaker 1: baby's way I know won't fly with a road bike. 549 00:24:49,359 --> 00:24:51,600 Speaker 1: I did some research and I read that I should 550 00:24:51,640 --> 00:24:54,439 Speaker 1: go with the hybrid bike because I don't want a 551 00:24:54,480 --> 00:24:56,600 Speaker 1: mountain bike and I know I don't want a cruiser. 552 00:24:57,160 --> 00:24:59,840 Speaker 1: But I found that even within the hybrid category there's 553 00:24:59,840 --> 00:25:04,000 Speaker 1: so many different types. Anyways, you guys know a lot 554 00:25:04,040 --> 00:25:06,560 Speaker 1: more about bikes and now welcome your thoughts and opinions. 555 00:25:06,840 --> 00:25:09,960 Speaker 1: Oh and one last thing, Just like you guys, I 556 00:25:10,000 --> 00:25:12,800 Speaker 1: would like to keep this purchase on a budget five 557 00:25:13,320 --> 00:25:17,320 Speaker 1: or below would be best, but if the best bang 558 00:25:17,400 --> 00:25:19,640 Speaker 1: for your buck bike is out there a little higher 559 00:25:19,680 --> 00:25:21,600 Speaker 1: than that, then I would have to weigh my the 560 00:25:21,680 --> 00:25:24,600 Speaker 1: pros and cons of the price and the actual bike. 561 00:25:25,200 --> 00:25:29,080 Speaker 1: Thanks and keep up the great work, Alex. Great question, 562 00:25:29,600 --> 00:25:31,840 Speaker 1: Matt May. We always love talking about bikes, so you 563 00:25:31,840 --> 00:25:33,440 Speaker 1: don't have to twist our arms to take your question 564 00:25:33,640 --> 00:25:35,479 Speaker 1: on the show. And he's a tall guy like you 565 00:25:35,520 --> 00:25:37,560 Speaker 1: did that, Yeah, it mid six too. He doesn't have 566 00:25:37,800 --> 00:25:39,880 Speaker 1: he doesn't have your six four going on, but he's 567 00:25:39,880 --> 00:25:44,080 Speaker 1: still pretty tall six five buddy six Yeah, dude, like 568 00:25:44,160 --> 00:25:46,160 Speaker 1: barely six ft. It can't make it harder to find 569 00:25:46,160 --> 00:25:48,120 Speaker 1: a bike for taller people. Yeah, seriously, for sure you've 570 00:25:48,119 --> 00:25:50,480 Speaker 1: had issues with bikes them specifically. I know. Yeah, I 571 00:25:50,800 --> 00:25:53,120 Speaker 1: literally had to buy an aftermarket one for my rad 572 00:25:53,160 --> 00:25:55,720 Speaker 1: bike because yeah, what they came what it came with 573 00:25:55,840 --> 00:25:58,840 Speaker 1: was meant for people up to six ft two people, 574 00:26:00,040 --> 00:26:01,399 Speaker 1: So ID to go on eBay and find find one 575 00:26:01,440 --> 00:26:03,560 Speaker 1: on my own. But yeah, that being said to, bike 576 00:26:03,600 --> 00:26:06,760 Speaker 1: sales have been through the roof lately. I saw that 577 00:26:06,920 --> 00:26:09,280 Speaker 1: r I said that new bike sales are up four 578 00:26:09,600 --> 00:26:12,480 Speaker 1: times uh the amount they normally are lately, So people 579 00:26:12,520 --> 00:26:15,720 Speaker 1: are super into biking and largely because of the pandemic 580 00:26:15,760 --> 00:26:17,560 Speaker 1: and there's nothing else to do. And that we mentioned 581 00:26:17,600 --> 00:26:19,760 Speaker 1: too how in this past spring it's been even tougher 582 00:26:19,800 --> 00:26:22,320 Speaker 1: to find a used bike. So if something does randomly 583 00:26:22,359 --> 00:26:25,399 Speaker 1: get posted on on Craigslist or Facebook, it gets snatched 584 00:26:25,480 --> 00:26:27,840 Speaker 1: up super quick because a lot of traditional bike shops 585 00:26:27,880 --> 00:26:31,040 Speaker 1: and websites are completely sold out or they're just running 586 00:26:31,080 --> 00:26:33,000 Speaker 1: thin on stock. So Alex, we're gonna do our best 587 00:26:33,000 --> 00:26:35,040 Speaker 1: to give you some great advice on how to find 588 00:26:35,080 --> 00:26:36,920 Speaker 1: a great bike. But also, no, it just might be 589 00:26:36,960 --> 00:26:38,600 Speaker 1: a little bit tougher right now in order to get 590 00:26:38,600 --> 00:26:40,560 Speaker 1: that exact bike you want. Yeah, a lot of companies 591 00:26:40,600 --> 00:26:43,240 Speaker 1: are still selling bikes, but they're back ordered as well. 592 00:26:43,680 --> 00:26:46,199 Speaker 1: Uh so, Alex. There are a lot of different definitions 593 00:26:46,200 --> 00:26:49,120 Speaker 1: out there, but I would recommend either a hybrid or 594 00:26:49,160 --> 00:26:51,280 Speaker 1: a gravel bike, And it sounds like you kind of 595 00:26:51,320 --> 00:26:54,520 Speaker 1: came upon hybrid bike on your own. Hybrid will be 596 00:26:54,600 --> 00:26:57,000 Speaker 1: a little more suited for on road riding and will 597 00:26:57,040 --> 00:26:59,720 Speaker 1: likely put you in a more upright riding position. So 598 00:26:59,840 --> 00:27:02,120 Speaker 1: this means it will be a little more comfortable and casual. 599 00:27:02,560 --> 00:27:04,639 Speaker 1: And because of that though, don't expect to go, you know, 600 00:27:04,720 --> 00:27:07,359 Speaker 1: as fast, You're not going to be in as aggressive 601 00:27:07,440 --> 00:27:10,440 Speaker 1: of a position. But if you are looking for maybe 602 00:27:10,520 --> 00:27:12,800 Speaker 1: more of a do everything kind of bike, check out 603 00:27:12,880 --> 00:27:15,840 Speaker 1: gravel or adventure bikes. That's actually what I just picked 604 00:27:15,880 --> 00:27:17,359 Speaker 1: up from ari I, which is funny that you mentioned 605 00:27:17,359 --> 00:27:19,520 Speaker 1: ari a jel, but I picked up a gravel bike. 606 00:27:19,800 --> 00:27:22,720 Speaker 1: They are tougher than road bikes, but they have tire 607 00:27:22,760 --> 00:27:26,520 Speaker 1: clearances that allow for you know, some fatter knobby or tires, 608 00:27:26,600 --> 00:27:30,320 Speaker 1: so you can also easily ride fast on dirt and gravel. 609 00:27:30,640 --> 00:27:32,360 Speaker 1: But then you can take it easy when you put 610 00:27:32,400 --> 00:27:34,720 Speaker 1: the kids seat back on. And so I'm not saying 611 00:27:34,720 --> 00:27:37,600 Speaker 1: that you're gonna be riding super fast on dirt or 612 00:27:37,640 --> 00:27:39,639 Speaker 1: gravel with your kid on board, but with a lot 613 00:27:39,680 --> 00:27:41,280 Speaker 1: of those kids seats, you're able to kind of pop 614 00:27:41,320 --> 00:27:43,480 Speaker 1: them on and off pretty easily. And so if you 615 00:27:43,520 --> 00:27:46,440 Speaker 1: did go with one of these gravel bikes, I personally 616 00:27:46,480 --> 00:27:48,120 Speaker 1: like that because it kind of opens up a lot 617 00:27:48,160 --> 00:27:50,480 Speaker 1: more riding options for you and then you're not only 618 00:27:50,520 --> 00:27:53,040 Speaker 1: confined to the pavement. Yeah, man, I think you're right. 619 00:27:53,119 --> 00:27:55,120 Speaker 1: I think either one of those kinds of bikes with 620 00:27:55,160 --> 00:27:56,920 Speaker 1: a kid's heat on it, it is great for hauling 621 00:27:56,960 --> 00:27:59,679 Speaker 1: around one kid, I think two for for Alex. One 622 00:27:59,680 --> 00:28:02,320 Speaker 1: thing we're considering is if there's a chance that you're 623 00:28:02,320 --> 00:28:04,240 Speaker 1: gonna have more children at some point, you're gonna have 624 00:28:04,280 --> 00:28:06,880 Speaker 1: more kidos riding on your bike. A cargo bike could 625 00:28:06,880 --> 00:28:08,520 Speaker 1: still be a great move, And Alex mentioned this in 626 00:28:08,560 --> 00:28:10,679 Speaker 1: this question in a particular brand that you've had for 627 00:28:10,680 --> 00:28:13,360 Speaker 1: a long time that I think makes great pretty inexpensive 628 00:28:13,440 --> 00:28:17,399 Speaker 1: cargo bikes, although they're still above the threshold that Alex 629 00:28:17,440 --> 00:28:19,919 Speaker 1: was hoping to stayander is Yuba Bikes, and they have 630 00:28:19,960 --> 00:28:23,520 Speaker 1: a newer bike called the Combi that is a thousand dollars, 631 00:28:23,720 --> 00:28:26,080 Speaker 1: but you could put two, maybe even three kids on 632 00:28:26,119 --> 00:28:28,320 Speaker 1: the back of there and it'd be a solid bike 633 00:28:28,400 --> 00:28:30,119 Speaker 1: for a lot of years. So so much of it 634 00:28:30,160 --> 00:28:31,920 Speaker 1: depends on kind of what you want to do, whether 635 00:28:31,920 --> 00:28:34,240 Speaker 1: you're gonna be riding only with your kids on back, 636 00:28:34,480 --> 00:28:36,640 Speaker 1: or whether you're gonna be riding solo to or whether 637 00:28:36,640 --> 00:28:38,600 Speaker 1: you want to be able to remove the kids seat 638 00:28:38,840 --> 00:28:41,720 Speaker 1: and then ride on your own, or you're only doing 639 00:28:41,800 --> 00:28:44,080 Speaker 1: kind of family rides. But yeah, you be worth checking out. 640 00:28:44,200 --> 00:28:46,040 Speaker 1: They make some great bikes. Yeah, and Joel, you and 641 00:28:46,120 --> 00:28:47,920 Speaker 1: I will live on the East coast here in Atlanta, 642 00:28:48,040 --> 00:28:50,360 Speaker 1: but you but they're actually headquarters somewhere out there on 643 00:28:50,360 --> 00:28:52,440 Speaker 1: the West coast, I'm pretty sure in California, maybe even 644 00:28:52,720 --> 00:28:54,880 Speaker 1: close to where Alex lives. So Alex, you could maybe 645 00:28:54,880 --> 00:28:56,480 Speaker 1: even check them out in person, which would be a 646 00:28:56,520 --> 00:28:58,400 Speaker 1: lot of fun and something else to Alex. I wanted 647 00:28:58,440 --> 00:29:00,640 Speaker 1: to mention, if you are going to consider a traditional 648 00:29:00,680 --> 00:29:03,000 Speaker 1: bike and you're gonna go with the bike seat, I 649 00:29:03,000 --> 00:29:05,280 Speaker 1: would recommend checking out some of those bike seats that 650 00:29:05,360 --> 00:29:07,640 Speaker 1: mount not on the rear of the bike but instead 651 00:29:07,640 --> 00:29:09,960 Speaker 1: on the front, where it's mounted in between the handlebars 652 00:29:10,120 --> 00:29:13,800 Speaker 1: and your seat. I personally really like these seats because, 653 00:29:13,920 --> 00:29:15,760 Speaker 1: first of all, your arms are kind of wrapped around 654 00:29:15,760 --> 00:29:17,840 Speaker 1: the kid while you're riding, and so it kind of, 655 00:29:17,880 --> 00:29:19,920 Speaker 1: I don't know, it encloses them a little bit. I 656 00:29:19,920 --> 00:29:21,800 Speaker 1: think they feel a little safer because they're inside your 657 00:29:21,880 --> 00:29:25,160 Speaker 1: arm cage a little bit there. But you can also 658 00:29:25,240 --> 00:29:28,560 Speaker 1: talk to them while you're writing, which man I found 659 00:29:28,560 --> 00:29:31,120 Speaker 1: that to be so awesome because you're basically talking them 660 00:29:31,120 --> 00:29:33,240 Speaker 1: through what you're doing. And then plus two, they're not 661 00:29:33,280 --> 00:29:35,200 Speaker 1: just staring at your butt the whole time. The whole 662 00:29:35,240 --> 00:29:37,480 Speaker 1: time you're riding. Man, I have pictures of my kids 663 00:29:37,560 --> 00:29:39,400 Speaker 1: on the back of my bike and I swear on 664 00:29:39,720 --> 00:29:41,360 Speaker 1: my butts right in their face. I feel bad for him, 665 00:29:41,400 --> 00:29:44,239 Speaker 1: but we still have a blast ride around. But Truly Uh, 666 00:29:44,400 --> 00:29:46,680 Speaker 1: they are a company that makes one of those, and 667 00:29:46,680 --> 00:29:49,480 Speaker 1: it's called the Truly Yep Mini, and we'll put a 668 00:29:49,480 --> 00:29:50,960 Speaker 1: link to that in our show notes as well. But 669 00:29:50,960 --> 00:29:52,760 Speaker 1: that's a really solid company and to make a really 670 00:29:52,800 --> 00:29:56,920 Speaker 1: good one that's really secure and alex for an actual bike, right, 671 00:29:56,960 --> 00:29:59,960 Speaker 1: a non cargo bike. My favorite discount buying site is 672 00:30:00,120 --> 00:30:03,920 Speaker 1: bikes direct dot com on there you can definitely find 673 00:30:04,000 --> 00:30:07,160 Speaker 1: a solid hybrid or solid gravel bike for five bucks 674 00:30:07,240 --> 00:30:10,800 Speaker 1: or less. For sure. I've had numerous friends purchased bikes 675 00:30:10,800 --> 00:30:12,640 Speaker 1: from on there. I've purchased a bike from them before. 676 00:30:13,200 --> 00:30:15,280 Speaker 1: I currently have a friend who actually has ordered one 677 00:30:15,280 --> 00:30:18,120 Speaker 1: from them, and it's again, not surprisingly, it's on back order. 678 00:30:18,960 --> 00:30:22,920 Speaker 1: But they are a solid online seller of bicycles. Even 679 00:30:22,920 --> 00:30:25,800 Speaker 1: though their website may not look totally legit actually could 680 00:30:25,800 --> 00:30:28,400 Speaker 1: totally use a little revamp, couldn't they. But but you're 681 00:30:28,400 --> 00:30:31,280 Speaker 1: buying essentially straight from the manufacturer, no middleman. It's why 682 00:30:31,320 --> 00:30:35,120 Speaker 1: their bikes are easily less than what you would pay 683 00:30:35,120 --> 00:30:38,080 Speaker 1: for an equivalent bike from a major retailer or straight 684 00:30:38,080 --> 00:30:40,440 Speaker 1: from a company that maybe you're more familiar with. But 685 00:30:40,520 --> 00:30:43,120 Speaker 1: those bikes on that site are solid, all right, man? 686 00:30:43,160 --> 00:30:44,440 Speaker 1: That makes me wanna get out of here and go 687 00:30:44,560 --> 00:30:47,760 Speaker 1: start riding my bike otto, doesn't it best to elect 688 00:30:47,760 --> 00:30:50,280 Speaker 1: to alex finding something great and making some memories on 689 00:30:50,320 --> 00:30:51,680 Speaker 1: the bike. I mean, that's one of the best things 690 00:30:51,880 --> 00:30:54,000 Speaker 1: about about having a bike and riding with your kids 691 00:30:54,200 --> 00:30:56,520 Speaker 1: is the memories you make, the places you go. We're 692 00:30:56,560 --> 00:30:58,240 Speaker 1: hopping in a car to go to that same place, 693 00:30:58,400 --> 00:31:00,640 Speaker 1: just doesn't quite do it. It's not the same in experienced. 694 00:31:00,680 --> 00:31:02,840 Speaker 1: I mean, for me again, literally having that bike seat 695 00:31:02,840 --> 00:31:05,600 Speaker 1: where they're where Eavy, our oldest was sitting up front there, 696 00:31:05,880 --> 00:31:08,200 Speaker 1: Like I have such great memories of riding around the 697 00:31:08,240 --> 00:31:11,239 Speaker 1: city with her between my arms, you know, telling her 698 00:31:11,240 --> 00:31:13,360 Speaker 1: where we're going, what we're doing, you know, pointing things 699 00:31:13,400 --> 00:31:15,400 Speaker 1: out like look at that doggie, you know, and things 700 00:31:15,440 --> 00:31:17,680 Speaker 1: like that. And that's not the kind of experience you 701 00:31:17,680 --> 00:31:20,520 Speaker 1: have riding around in a car or even you know, 702 00:31:20,560 --> 00:31:22,360 Speaker 1: if if the kids in a trailer, Like trailers are 703 00:31:22,360 --> 00:31:24,160 Speaker 1: pretty safe and they're a great way to haul kids 704 00:31:24,160 --> 00:31:26,480 Speaker 1: around as well, but they're in their own little vehicle 705 00:31:26,560 --> 00:31:29,040 Speaker 1: behind you that you're telling and you can't interact with them. 706 00:31:29,080 --> 00:31:31,400 Speaker 1: I'm a big fan of the seats right there between 707 00:31:31,440 --> 00:31:33,120 Speaker 1: your arms. Yeah, for sure. Man. All right, let's get 708 00:31:33,120 --> 00:31:34,480 Speaker 1: back to the beer that we had on the show today. 709 00:31:34,760 --> 00:31:37,720 Speaker 1: We drank Wild Leap Time Love and Tenderness Double I 710 00:31:37,800 --> 00:31:40,200 Speaker 1: p A. And I feel like there should be some 711 00:31:40,280 --> 00:31:42,720 Speaker 1: slow jams playing behind us while when you recap the 712 00:31:42,800 --> 00:31:44,360 Speaker 1: beer that we had on the show, not what were 713 00:31:44,400 --> 00:31:46,160 Speaker 1: your thoughts on this one? Well, first of all, I 714 00:31:46,160 --> 00:31:48,920 Speaker 1: wanted to mention Wild leap this. They are no stranger 715 00:31:48,960 --> 00:31:51,120 Speaker 1: to the show. We definitely have had their beers on before, 716 00:31:51,360 --> 00:31:54,600 Speaker 1: and they just continue to make solid, delicious I p 717 00:31:54,800 --> 00:31:57,040 Speaker 1: a S that are kind of the new I PA 718 00:31:57,080 --> 00:31:59,480 Speaker 1: that are a little hazy. Uh. This one, in particular 719 00:31:59,560 --> 00:32:01,200 Speaker 1: was lush. I feel like that's the best way to 720 00:32:01,520 --> 00:32:03,440 Speaker 1: I could describe it. But it was juicy. It was 721 00:32:03,560 --> 00:32:06,320 Speaker 1: full bodied, uh and fruity at the same time, with 722 00:32:06,440 --> 00:32:09,239 Speaker 1: just like a little bit of that hot kick to it. Uh, 723 00:32:09,480 --> 00:32:11,800 Speaker 1: kind of that hot dryness going on, but mixed in 724 00:32:11,880 --> 00:32:13,920 Speaker 1: with all the florals and all that fruitiness. This was 725 00:32:14,200 --> 00:32:17,320 Speaker 1: a really delicious one. And again, I feel like we 726 00:32:17,320 --> 00:32:19,800 Speaker 1: should branch out a little bit and try different beers 727 00:32:20,280 --> 00:32:22,080 Speaker 1: because we constantly drink I p a S. But it's 728 00:32:22,120 --> 00:32:24,320 Speaker 1: because we love them so much. They're so delicious. Yeah, 729 00:32:24,360 --> 00:32:27,760 Speaker 1: this one was soft, sweet, proof forward. Yeah, like a 730 00:32:27,840 --> 00:32:30,840 Speaker 1: juicy fruit gum or something like that. But I really, yeah, 731 00:32:30,880 --> 00:32:32,680 Speaker 1: I really dug this one wildly. Man. They've been making 732 00:32:32,720 --> 00:32:35,200 Speaker 1: some good beers there about an hour south, forty minutes 733 00:32:35,240 --> 00:32:37,560 Speaker 1: south of where we are. I've never been there neither, 734 00:32:38,080 --> 00:32:39,440 Speaker 1: but you know, one of these days we'll take a 735 00:32:39,480 --> 00:32:41,480 Speaker 1: bike road trip down there. Let's do it? Can our 736 00:32:41,560 --> 00:32:43,840 Speaker 1: legs handle it? Oh no, we can't bike down there, 737 00:32:43,840 --> 00:32:46,000 Speaker 1: but we can like drive down there with our bikes 738 00:32:46,280 --> 00:32:48,440 Speaker 1: and you know, find a trailer or something like that. Yeah, 739 00:32:48,600 --> 00:32:51,080 Speaker 1: find a gravel road to ride around on our venture bikes. 740 00:32:51,120 --> 00:32:52,600 Speaker 1: That sounds good. All right, Well, Matt, that's gonna do 741 00:32:52,640 --> 00:32:54,520 Speaker 1: it for this episode. And for folks who want to 742 00:32:54,560 --> 00:32:56,160 Speaker 1: read the show notes for this episode, we'll just go 743 00:32:56,240 --> 00:32:58,480 Speaker 1: to our website how to money dot com. You'll find 744 00:32:58,520 --> 00:33:01,640 Speaker 1: them there. And we would also be incredibly thankful if 745 00:33:01,680 --> 00:33:04,440 Speaker 1: you not only subscribe to the show but left us 746 00:33:04,480 --> 00:33:07,520 Speaker 1: a solid review. It is always helpful and a big 747 00:33:07,560 --> 00:33:09,680 Speaker 1: thanks in advance. So Joel, that's going to be a 748 00:33:09,720 --> 00:33:13,000 Speaker 1: buddy until next time. Best Friends Out, Best Friends Out.