1 00:00:00,120 --> 00:00:03,280 Speaker 1: Welcome to Had of Money. I'm Joeld and I am Matt. 2 00:00:03,279 --> 00:00:06,640 Speaker 1: Today we're talking long airport lines, rent and installments and 3 00:00:06,720 --> 00:00:29,159 Speaker 1: plasma payday. Yeah, buddy, this is our Friday Flights, the 4 00:00:29,480 --> 00:00:32,400 Speaker 1: little compilation of the different headlines from the past week 5 00:00:32,560 --> 00:00:35,400 Speaker 1: that we're gonna get to specifically how they pertained to 6 00:00:35,440 --> 00:00:37,519 Speaker 1: your finances. And I will say, I'm excited to talk 7 00:00:37,520 --> 00:00:41,159 Speaker 1: about plasma plasma paydays. But it's not like a plasma 8 00:00:41,200 --> 00:00:43,640 Speaker 1: gun like you'd see in some sort of sci fi novel. 9 00:00:43,680 --> 00:00:46,599 Speaker 1: This is like or a plasma torch. Actually your body produces. 10 00:00:46,680 --> 00:00:48,720 Speaker 1: I wanted a plasma torch when I was in Colin. 11 00:00:48,840 --> 00:00:50,360 Speaker 1: Even know what that is. It's like a welding tool. 12 00:00:50,440 --> 00:00:52,199 Speaker 1: Huh Okay, yeah, because I was wanted to be able 13 00:00:52,200 --> 00:00:54,680 Speaker 1: to work. It all makes sense when I share some 14 00:00:54,720 --> 00:00:57,640 Speaker 1: of these things with you, rightchel, Yes, it's like little 15 00:00:57,640 --> 00:00:59,840 Speaker 1: pieces to the puzzle of who what makes you you? 16 00:01:00,080 --> 00:01:01,920 Speaker 1: I know here about the tooth Fairy. Have you talked 17 00:01:01,920 --> 00:01:03,800 Speaker 1: about the tooth Fairy recently? It's been a while, Well, 18 00:01:04,000 --> 00:01:06,800 Speaker 1: but this comes out every year, like what the average 19 00:01:06,840 --> 00:01:08,800 Speaker 1: tooth Fairy payout is, so we have but it's been 20 00:01:08,840 --> 00:01:11,520 Speaker 1: a year. Yes, it's probably been almost exactly a year, 21 00:01:11,600 --> 00:01:13,800 Speaker 1: old man shaking fist that sky territory of like, I 22 00:01:13,840 --> 00:01:16,080 Speaker 1: can't believe it's been a year, but like you know 23 00:01:16,120 --> 00:01:18,759 Speaker 1: the amount because I wrote it on our outline here, 24 00:01:18,760 --> 00:01:20,840 Speaker 1: But like is he is that really the average amount 25 00:01:20,840 --> 00:01:23,480 Speaker 1: for five andy four? Okay? Which five dollars and eighty 26 00:01:23,480 --> 00:01:25,440 Speaker 1: four cents? That's the new going rate? Sounds like all 27 00:01:25,440 --> 00:01:27,399 Speaker 1: evidently for the tooth fairy that's the average. I mean 28 00:01:27,440 --> 00:01:29,600 Speaker 1: some people paying like ten bucks for tooth and h 29 00:01:29,920 --> 00:01:32,240 Speaker 1: I mean that is how averages work? Is this the 30 00:01:32,319 --> 00:01:35,440 Speaker 1: k shape to comedy? In tooth fairy form? The are 31 00:01:35,440 --> 00:01:37,560 Speaker 1: the rich getting richer and paying loads of money for 32 00:01:38,200 --> 00:01:40,000 Speaker 1: that to the kids for losing teeth? Or I don't know. 33 00:01:40,000 --> 00:01:43,560 Speaker 1: I wonder if folks, if folks exaggerate how much because 34 00:01:43,600 --> 00:01:46,920 Speaker 1: maybe they feel guilty for maybe only giving their kid 35 00:01:47,000 --> 00:01:48,880 Speaker 1: a buck, which is what I do, and I will 36 00:01:48,880 --> 00:01:51,920 Speaker 1: say you feel guilty? No, I mean I unabashed. Is 37 00:01:51,920 --> 00:01:53,440 Speaker 1: that what y'all do? You'll do? A buck? A buck 38 00:01:53,480 --> 00:01:57,120 Speaker 1: and a kinderregg Yeah? Okay, the candy to like help 39 00:01:57,160 --> 00:02:00,920 Speaker 1: with the exactly do we do a bot some way 40 00:02:00,920 --> 00:02:04,320 Speaker 1: to make it fun? In a nicely written note but no, 41 00:02:05,040 --> 00:02:08,359 Speaker 1: I feel zero pressure at all from society to say, oh, 42 00:02:08,600 --> 00:02:10,839 Speaker 1: you toothairy should be paying out a little bit more. 43 00:02:10,880 --> 00:02:12,440 Speaker 1: And you want to know why I was thinking about it. 44 00:02:13,200 --> 00:02:16,840 Speaker 1: There's something about rewarding something that feels inevitable that I 45 00:02:16,840 --> 00:02:19,840 Speaker 1: don't like, right, Like I'm want to save my and 46 00:02:19,960 --> 00:02:22,360 Speaker 1: like I'm not going I'm not going to not celebrate 47 00:02:22,360 --> 00:02:25,280 Speaker 1: a kid's birthday. That's inevitable too, Right, there's certain sort 48 00:02:25,280 --> 00:02:26,760 Speaker 1: of things. I guess if you were to take that 49 00:02:26,760 --> 00:02:28,320 Speaker 1: a lot of the express but I do want to 50 00:02:28,320 --> 00:02:31,040 Speaker 1: make sure that I'm putting emphasis on the things that 51 00:02:31,160 --> 00:02:33,480 Speaker 1: they have more control over, the things that they work 52 00:02:33,560 --> 00:02:36,240 Speaker 1: hard for, where they've sacrificed, you know, like all the 53 00:02:36,320 --> 00:02:38,480 Speaker 1: things that I want to see more of. Let's encourage 54 00:02:38,480 --> 00:02:41,160 Speaker 1: those types of behavior and not make a huge fuss 55 00:02:41,280 --> 00:02:44,360 Speaker 1: over over the tooth fairy to start paying more for teeth. 56 00:02:44,360 --> 00:02:46,360 Speaker 1: Maybe they start punching the good ones out, you know, 57 00:02:46,840 --> 00:02:49,120 Speaker 1: I don't want to incentivize them do the wrong things. Okay, 58 00:02:49,160 --> 00:02:51,239 Speaker 1: that's probably a good reason not to pay too much. Yeah, 59 00:02:51,280 --> 00:02:54,320 Speaker 1: so I don't know. I'm curious. I love hearing from 60 00:02:54,360 --> 00:02:56,639 Speaker 1: how to money listener. So if you have a reason, 61 00:02:56,720 --> 00:02:58,560 Speaker 1: if you pay tons or a lot more than we 62 00:02:58,639 --> 00:03:00,760 Speaker 1: pay sure, and you have a reason for it, let 63 00:03:00,840 --> 00:03:03,040 Speaker 1: us know. Or if they take a completely different approach, Yeah, 64 00:03:03,120 --> 00:03:04,800 Speaker 1: they might do something I don't. I would love to 65 00:03:04,800 --> 00:03:07,760 Speaker 1: hear it completely outside of the box approach to dealing 66 00:03:07,800 --> 00:03:10,880 Speaker 1: with those teeth and what the tooth fairy actually does 67 00:03:11,040 --> 00:03:13,320 Speaker 1: you know, because it's kind of weird if you think 68 00:03:13,320 --> 00:03:15,480 Speaker 1: about it, though, you turned in into society and it 69 00:03:15,520 --> 00:03:19,200 Speaker 1: looks great as the society that we do this. Yeah, 70 00:03:19,240 --> 00:03:20,919 Speaker 1: should we get into it, we'll be talking about the 71 00:03:21,200 --> 00:03:22,919 Speaker 1: let's do it. The war. Well, well, let's start talking 72 00:03:22,919 --> 00:03:24,880 Speaker 1: about the airport. There's a war at the airport matter, 73 00:03:24,880 --> 00:03:27,200 Speaker 1: at least at some airports, or war to make the 74 00:03:27,240 --> 00:03:31,280 Speaker 1: country make your flight on time exactly exactly. I got 75 00:03:31,320 --> 00:03:35,080 Speaker 1: a text from a friend yesterday who was at the 76 00:03:35,080 --> 00:03:40,640 Speaker 1: airport in Ohio mega early, and he was like, Oh, actually, 77 00:03:40,720 --> 00:03:42,320 Speaker 1: the TSA line wasn't too bad, so I've got like 78 00:03:42,360 --> 00:03:45,960 Speaker 1: three hours inticuilling in the terminal you get there super early. 79 00:03:46,000 --> 00:03:48,680 Speaker 1: But yes, long lines at the airports around the country 80 00:03:48,800 --> 00:03:51,600 Speaker 1: are a thing because a lot of TSA workers aren't 81 00:03:51,600 --> 00:03:53,680 Speaker 1: showing up. And why aren't TSA workers showing up? Well, 82 00:03:54,000 --> 00:03:56,320 Speaker 1: because they're not getting paid because they're missing pay checks 83 00:03:56,320 --> 00:04:00,200 Speaker 1: because of a partial government shutdown. And so I do 84 00:04:00,280 --> 00:04:03,560 Speaker 1: not personally blame the TSA agents, Matt. I think if 85 00:04:04,520 --> 00:04:07,119 Speaker 1: if someone stops paying paying me to do the job, 86 00:04:07,280 --> 00:04:10,080 Speaker 1: I think I might stop as well. Yeah, at some level, 87 00:04:10,440 --> 00:04:12,200 Speaker 1: how many lists, don't you worry? We will still be 88 00:04:12,280 --> 00:04:14,080 Speaker 1: there for you even if we have a falling out 89 00:04:14,120 --> 00:04:16,400 Speaker 1: with a network. That's right, that's right, even if they're like, 90 00:04:16,440 --> 00:04:18,000 Speaker 1: we're not paying you a dime, We'll still find a 91 00:04:18,040 --> 00:04:20,520 Speaker 1: way to do it. It might look different, let's be honest, 92 00:04:20,640 --> 00:04:23,640 Speaker 1: but yeah, we like what we do exactly. But yeah, 93 00:04:23,680 --> 00:04:25,960 Speaker 1: so that the president sent ice agents in to take 94 00:04:26,000 --> 00:04:28,240 Speaker 1: over some of the duties. But you know, it takes 95 00:04:28,279 --> 00:04:31,080 Speaker 1: months to train a TSA agent, and so this could 96 00:04:31,080 --> 00:04:34,040 Speaker 1: actually cause problems down the line for World Cup stuff 97 00:04:34,040 --> 00:04:36,960 Speaker 1: like that, when we just have fewer TSA agents when 98 00:04:37,000 --> 00:04:38,960 Speaker 1: we need them. But yeah, a lot of travelers miss 99 00:04:39,040 --> 00:04:41,719 Speaker 1: flights are showed up super early, they're waiting in multi 100 00:04:41,760 --> 00:04:47,400 Speaker 1: hour lines. Some of the airlines have been accommodating. But 101 00:04:47,480 --> 00:04:51,000 Speaker 1: this is obviously just a frustrating, frustrating thing for the 102 00:04:51,040 --> 00:04:53,920 Speaker 1: airlines and for travelers alike. And so I think it's 103 00:04:53,960 --> 00:04:56,280 Speaker 1: really important to check the weight lines before you head 104 00:04:56,320 --> 00:04:59,560 Speaker 1: to the airport, the security weight lines. There's a site 105 00:04:59,760 --> 00:05:03,800 Speaker 1: called q sensor, yes, which q sensor is amazing. It's 106 00:05:03,800 --> 00:05:06,080 Speaker 1: way better than using the TSA app, which I don't 107 00:05:06,120 --> 00:05:08,000 Speaker 1: even know. Maybe the guy who runs the TSA app 108 00:05:08,040 --> 00:05:11,000 Speaker 1: isn't working either right now, So check out q sensor. 109 00:05:11,040 --> 00:05:13,080 Speaker 1: I can't get the TSA app to download. Oh yeah, 110 00:05:13,080 --> 00:05:15,200 Speaker 1: the guy that that normally takes care of that, he's 111 00:05:15,240 --> 00:05:18,279 Speaker 1: not shown up. Yeah, exactly. The Q watching Jerry Springer 112 00:05:18,360 --> 00:05:20,520 Speaker 1: C sensor is amazing. Like, I'm not totally sure where 113 00:05:20,520 --> 00:05:22,360 Speaker 1: they're getting this data, Like it's a I think it's 114 00:05:22,360 --> 00:05:24,960 Speaker 1: a combination. I was trying to look into it. It's 115 00:05:24,960 --> 00:05:28,479 Speaker 1: a combination of actual government agencies, but then also sort 116 00:05:28,480 --> 00:05:31,040 Speaker 1: of like a real time on the ground like ways 117 00:05:31,240 --> 00:05:33,919 Speaker 1: yeah or gas buddy. Wherefore people are providing the information 118 00:05:33,960 --> 00:05:37,200 Speaker 1: more of the crowdsourced approach. But yeah, totally check that out, 119 00:05:37,240 --> 00:05:39,680 Speaker 1: which is cool. Yeah. So, oh and one other thing 120 00:05:39,720 --> 00:05:42,560 Speaker 1: I guess people can do if they've got extra cash 121 00:05:42,600 --> 00:05:45,120 Speaker 1: they want to spend to avoid lines is sign up 122 00:05:45,160 --> 00:05:48,120 Speaker 1: for clear. It's the it's instead of like TSA pre check, 123 00:05:48,160 --> 00:05:50,520 Speaker 1: this is a private security program in TSA. Pre check 124 00:05:50,600 --> 00:05:52,680 Speaker 1: lines are shut down in many airports right now too 125 00:05:52,720 --> 00:05:55,919 Speaker 1: because they're consolidating, and Clear stock mat is up like 126 00:05:56,000 --> 00:05:58,920 Speaker 1: sixty percent. I also saw that, and I thought, because 127 00:05:59,200 --> 00:06:02,320 Speaker 1: huge beneficiary this and Okay, so people are going to say, 128 00:06:02,400 --> 00:06:03,800 Speaker 1: wait a minute, you guys, why are you all talking 129 00:06:03,800 --> 00:06:06,040 Speaker 1: about a single stock here here, because y'all are all 130 00:06:06,080 --> 00:06:09,360 Speaker 1: about indexing and chill. But this would have been a 131 00:06:09,400 --> 00:06:12,680 Speaker 1: perfect instance of using some of that play money, like 132 00:06:12,680 --> 00:06:14,599 Speaker 1: the five percent or less some of that play money. 133 00:06:14,680 --> 00:06:16,920 Speaker 1: This is totally the kind of thing where I'll buy 134 00:06:16,960 --> 00:06:21,680 Speaker 1: a singular share of a company just as a speculative set. Yeah, yeah, 135 00:06:21,760 --> 00:06:24,400 Speaker 1: just for funzis. But it doesn't surprise me at all 136 00:06:24,520 --> 00:06:26,760 Speaker 1: that they're going through the roof And I think it's 137 00:06:26,760 --> 00:06:29,880 Speaker 1: what like two ten dollars though an area. Yeah, it's 138 00:06:29,920 --> 00:06:32,720 Speaker 1: it's it's fairly expensive. But if you can skip a 139 00:06:32,800 --> 00:06:35,440 Speaker 1: multi hour long line, use it to breeze through the 140 00:06:35,440 --> 00:06:37,800 Speaker 1: airport on future occasions for the rest of the year, 141 00:06:38,120 --> 00:06:40,240 Speaker 1: then it might be worth it. I was going to say. 142 00:06:40,240 --> 00:06:42,920 Speaker 1: One of the reasons I I also like Clear because 143 00:06:42,960 --> 00:06:45,120 Speaker 1: it's going more in the sort of privatized direction. So 144 00:06:45,279 --> 00:06:48,240 Speaker 1: the libertarian inside of me is like fist pumping a 145 00:06:48,279 --> 00:06:51,799 Speaker 1: little bit there, but still who have it and travel frequently, 146 00:06:51,839 --> 00:06:55,960 Speaker 1: they were totally worth it. Yes, I rarely travel like you. 147 00:06:56,000 --> 00:06:58,880 Speaker 1: But oh, I wanted to mention some credit cards. Travel 148 00:06:58,880 --> 00:07:01,720 Speaker 1: credit cards in particular pay for your clear membership. It's 149 00:07:01,760 --> 00:07:04,000 Speaker 1: either included or you get a clear credit. A lot 150 00:07:04,040 --> 00:07:08,479 Speaker 1: of the higher end AMEX cards in particular include that, 151 00:07:08,560 --> 00:07:10,920 Speaker 1: so be sure to check that out. And we've been 152 00:07:10,960 --> 00:07:13,960 Speaker 1: asked about whether long security lines and make travel insurance 153 00:07:14,200 --> 00:07:17,600 Speaker 1: more appealing, and the answers now, travel insurance it almost 154 00:07:17,680 --> 00:07:20,360 Speaker 1: never covers you if you miss the flight because the 155 00:07:20,360 --> 00:07:23,240 Speaker 1: security line was long, like, that's typically on you. The 156 00:07:23,280 --> 00:07:25,520 Speaker 1: only way you'd be covered is if you got to 157 00:07:25,560 --> 00:07:29,080 Speaker 1: cancel for any reason type of insurance, which is much 158 00:07:29,120 --> 00:07:32,880 Speaker 1: more expensive. Standard policies they will get you anywhere. And 159 00:07:33,640 --> 00:07:36,320 Speaker 1: a final note, I saw that Elon said he's gonna 160 00:07:36,320 --> 00:07:39,720 Speaker 1: offer to potentially pay TSA workers in order to bring 161 00:07:39,720 --> 00:07:42,720 Speaker 1: them back, which I'm like, this is the direction I 162 00:07:42,720 --> 00:07:45,160 Speaker 1: want to see more billionaires going, in the direction of 163 00:07:45,280 --> 00:07:48,120 Speaker 1: more public like, oh, how can I step in here 164 00:07:48,160 --> 00:07:50,280 Speaker 1: to let bridge the gap a little bit? So if 165 00:07:50,280 --> 00:07:52,560 Speaker 1: you're gonna have all that money, maybe endear us to 166 00:07:53,680 --> 00:07:57,160 Speaker 1: you by doing something good for humanity, and right now, travelers, 167 00:07:57,200 --> 00:07:59,520 Speaker 1: would I think even people who are like anti Elon 168 00:07:59,600 --> 00:08:01,280 Speaker 1: might come around just a little bit if he started 169 00:08:01,280 --> 00:08:03,120 Speaker 1: paying the TSA agents out of his own pocket, they 170 00:08:03,120 --> 00:08:06,440 Speaker 1: came back to work and the line started flowing again. Yeah, 171 00:08:06,480 --> 00:08:08,200 Speaker 1: set a time limit, Just say hey, I'm gonna pay 172 00:08:08,200 --> 00:08:10,280 Speaker 1: for all TSA workers for the next week, right, and 173 00:08:10,320 --> 00:08:12,720 Speaker 1: then wait for the wait, wait for Bezos to step up, 174 00:08:12,800 --> 00:08:15,680 Speaker 1: right like, and then it becomes this competition. This is 175 00:08:15,760 --> 00:08:22,160 Speaker 1: upward spiral of billionaires doing some altruistic good will gestures 176 00:08:22,200 --> 00:08:25,119 Speaker 1: towards the Americans. You're gonna You're gonna pay TSA workers 177 00:08:25,120 --> 00:08:26,960 Speaker 1: for a week, Matt, Dude, I could pay TSA workers 178 00:08:26,960 --> 00:08:30,320 Speaker 1: for like three seconds and then all my money's gone. 179 00:08:31,920 --> 00:08:34,800 Speaker 1: If you don't like the price of rent, well you 180 00:08:34,840 --> 00:08:38,240 Speaker 1: now have an option to make it feel like less 181 00:08:38,240 --> 00:08:40,320 Speaker 1: of a slap in the face. Rent now, pay later, 182 00:08:40,640 --> 00:08:43,160 Speaker 1: of course, Matt, is now a thing. The buy now, 183 00:08:43,440 --> 00:08:46,800 Speaker 1: buy now, pay later ification of everything is finally here. 184 00:08:46,880 --> 00:08:49,600 Speaker 1: And you can now do this with your biggest monthly expense, 185 00:08:49,640 --> 00:08:52,880 Speaker 1: which is your rent. And so this is not shocking, 186 00:08:53,480 --> 00:08:56,600 Speaker 1: but it is saddening, right, I was. I was not, like, WHOA, 187 00:08:56,760 --> 00:09:00,079 Speaker 1: can't believe they did this. This feels crazy, but it does. 188 00:09:00,240 --> 00:09:02,240 Speaker 1: It is a huge bummer when I read about a 189 00:09:02,360 --> 00:09:05,400 Speaker 1: firm getting into the rent payment space. The rollout it's 190 00:09:05,559 --> 00:09:09,120 Speaker 1: small currently, but more renters are likely going to see 191 00:09:09,120 --> 00:09:12,480 Speaker 1: an option to split their rent payment into bi weekly 192 00:09:12,520 --> 00:09:15,800 Speaker 1: amounts instead of the traditional model right where rent is 193 00:09:15,880 --> 00:09:18,760 Speaker 1: due in full on the first of the month in 194 00:09:18,800 --> 00:09:21,079 Speaker 1: the near future, and so I get why this sounds 195 00:09:21,120 --> 00:09:24,360 Speaker 1: appealing to renters, but that also doesn't mean it's in 196 00:09:24,400 --> 00:09:27,520 Speaker 1: their best interests or in the best interest of their finances, 197 00:09:27,559 --> 00:09:29,960 Speaker 1: because you might not get charged extra interest. I mean, 198 00:09:29,960 --> 00:09:33,080 Speaker 1: this is how BNPL gets people over and over, but 199 00:09:33,360 --> 00:09:35,800 Speaker 1: there appears to be a monthly service fee for this offering, 200 00:09:36,200 --> 00:09:40,400 Speaker 1: so that essentially the pleasure the ability to get to 201 00:09:40,480 --> 00:09:43,280 Speaker 1: delay means you're going to pay more overall, and your 202 00:09:43,360 --> 00:09:47,040 Speaker 1: landlord might charge you an additional fee too. I think 203 00:09:47,120 --> 00:09:49,840 Speaker 1: of this MATT as very similar to those paycheck advance 204 00:09:49,960 --> 00:09:53,640 Speaker 1: loans where they ask for a tip, but that tip 205 00:09:53,720 --> 00:09:56,199 Speaker 1: is often if you were to extrapolate it to like, well, 206 00:09:56,240 --> 00:09:59,080 Speaker 1: if this was an interest rate basically on my income 207 00:09:59,120 --> 00:10:01,960 Speaker 1: and be exorbitant, you know, you get used then to 208 00:10:02,000 --> 00:10:05,199 Speaker 1: the arrival of your paycheck early, or you get used 209 00:10:05,200 --> 00:10:07,760 Speaker 1: to stretching out your rent payments, and your financial life 210 00:10:07,840 --> 00:10:12,360 Speaker 1: essentially then exists on a thinner margin, just bad ultimate outcome. Yeah, 211 00:10:12,400 --> 00:10:15,360 Speaker 1: there is no buffer at all. While we're talking about 212 00:10:15,360 --> 00:10:19,360 Speaker 1: where we live, Joel, we're seeing an uptick in accidental landlords, 213 00:10:20,000 --> 00:10:22,560 Speaker 1: and so this is happening by folks who are putting 214 00:10:22,600 --> 00:10:24,680 Speaker 1: their home on the market. They're not getting the price 215 00:10:24,720 --> 00:10:28,000 Speaker 1: that they're wanting, and so then they are listing that 216 00:10:28,120 --> 00:10:31,520 Speaker 1: house for rent on Zillo, which makes sense, you know, 217 00:10:31,559 --> 00:10:33,240 Speaker 1: like you're already spending a whole lot of time on 218 00:10:33,320 --> 00:10:35,719 Speaker 1: Zillo anyway. And I would actually, man, I wouldn't be 219 00:10:35,760 --> 00:10:39,959 Speaker 1: surprised if this is even this is more speculative, this 220 00:10:40,000 --> 00:10:41,760 Speaker 1: is a news sharing, This is me just put my 221 00:10:41,800 --> 00:10:43,880 Speaker 1: tin full hat on. I wouldn't surprise me if Zillo's 222 00:10:44,760 --> 00:10:46,680 Speaker 1: if there's some sort of feature where they're rolling this 223 00:10:46,679 --> 00:10:48,440 Speaker 1: out as an option to folks who have listed their 224 00:10:48,440 --> 00:10:50,120 Speaker 1: house and be like, hey, by the way, do you 225 00:10:50,160 --> 00:10:52,080 Speaker 1: know that you could potentially get this much? And then 226 00:10:52,080 --> 00:10:53,480 Speaker 1: all of a sudden, folks eyes are getting big and 227 00:10:53,480 --> 00:10:55,320 Speaker 1: they're doing the math and they're thinking, oh, oh, your 228 00:10:55,320 --> 00:10:57,840 Speaker 1: house is really on the market for sixty plus days, 229 00:10:58,000 --> 00:11:00,000 Speaker 1: don't don't you want to consider renting it instead? Exactly? 230 00:11:00,440 --> 00:11:03,760 Speaker 1: Maybe maybe Zilla could do that. Yeah, that's I'm speculating here. 231 00:11:04,720 --> 00:11:08,360 Speaker 1: I will say this is an awesome way to get 232 00:11:08,400 --> 00:11:11,840 Speaker 1: into rental real estate, turning your primary home into a 233 00:11:11,840 --> 00:11:15,240 Speaker 1: rental property. That's awesome if you're so inclined. But I 234 00:11:15,280 --> 00:11:16,960 Speaker 1: do think a lot of home sellers are a little 235 00:11:17,120 --> 00:11:21,040 Speaker 1: unrealistic about how much their home might be fetching on 236 00:11:21,080 --> 00:11:23,160 Speaker 1: the rental market right now, or even just on the 237 00:11:23,200 --> 00:11:26,280 Speaker 1: housing mark. Like they listed at eight hundred grand because 238 00:11:26,280 --> 00:11:28,280 Speaker 1: they saw their neighbor get that, and they don't realize, well, actually, 239 00:11:28,320 --> 00:11:31,280 Speaker 1: it's probably more like seven to sixty five. Yeah it is, 240 00:11:31,360 --> 00:11:33,880 Speaker 1: and the appreciation is still massive. But they ought to 241 00:11:33,880 --> 00:11:37,240 Speaker 1: make a big life decision here, because well, that's the difference. 242 00:11:37,280 --> 00:11:40,480 Speaker 1: Their home's not worth quite as as much as they thought. Yeah, exactly. 243 00:11:40,520 --> 00:11:43,320 Speaker 1: And it's not that I don't think it's super hard 244 00:11:43,480 --> 00:11:45,920 Speaker 1: to be a landlord. It's just that it takes a 245 00:11:45,920 --> 00:11:48,960 Speaker 1: good amount of time because you gotta you need to 246 00:11:48,960 --> 00:11:51,640 Speaker 1: make sure you properly that attendant, you got to deal 247 00:11:51,679 --> 00:11:55,280 Speaker 1: with vacancy and her repairs maybe that's less of an 248 00:11:55,280 --> 00:11:57,640 Speaker 1: issue if you've had your home listed, because hopefully you've 249 00:11:57,640 --> 00:11:59,920 Speaker 1: addressed some of the underlying things that you thought might 250 00:11:59,920 --> 00:12:03,400 Speaker 1: be the most problematic. But then on top of that, 251 00:12:03,400 --> 00:12:05,640 Speaker 1: there's also tax consequences if you end up running it 252 00:12:05,679 --> 00:12:09,480 Speaker 1: out for too long, and so I would say, you 253 00:12:09,640 --> 00:12:12,240 Speaker 1: really got to crunch the numbers. If you are so 254 00:12:12,400 --> 00:12:14,840 Speaker 1: inclined to do this, I would say, like, I want 255 00:12:14,880 --> 00:12:16,319 Speaker 1: more people to give this a shot. I think you 256 00:12:16,320 --> 00:12:20,120 Speaker 1: should give it a go if that's something that you 257 00:12:20,160 --> 00:12:22,240 Speaker 1: want to do, if you are willing to sign up 258 00:12:22,240 --> 00:12:24,280 Speaker 1: for a part time job, because don't immediately just put 259 00:12:24,280 --> 00:12:27,840 Speaker 1: on your passive income glasses and see everything as a 260 00:12:27,880 --> 00:12:31,000 Speaker 1: passive income. Here, it's not a passive job. It certainly 261 00:12:31,040 --> 00:12:34,120 Speaker 1: takes a good amount of time. There are more and 262 00:12:34,120 --> 00:12:36,480 Speaker 1: more tools out there that are making it easier, but 263 00:12:36,559 --> 00:12:39,200 Speaker 1: basically you're still signing up for a part time gig. Yeah, 264 00:12:39,440 --> 00:12:42,440 Speaker 1: I think to boil it down, count the cost right 265 00:12:42,559 --> 00:12:45,640 Speaker 1: know what you're getting into, eyes wide open, the accidental 266 00:12:45,720 --> 00:12:48,760 Speaker 1: landlord thing. That's how I kind of thought of myself 267 00:12:48,760 --> 00:12:52,160 Speaker 1: that way, Matt when with my first rental property, because 268 00:12:52,280 --> 00:12:56,160 Speaker 1: but only because the numbers were so overwhelmingly good because 269 00:12:56,280 --> 00:12:58,200 Speaker 1: I'd pay so little for the home to begin with, 270 00:12:58,640 --> 00:13:01,080 Speaker 1: and so I was like, well, i'd be an idiot 271 00:13:01,080 --> 00:13:02,360 Speaker 1: not to do this. But I think a lot of 272 00:13:02,400 --> 00:13:05,080 Speaker 1: other people are saying, well, I didn't quite get the 273 00:13:05,120 --> 00:13:07,199 Speaker 1: price that I wanted. Maybe I got an offer too, 274 00:13:07,240 --> 00:13:09,000 Speaker 1: but they were just not quite as high as i'd like, 275 00:13:09,480 --> 00:13:11,880 Speaker 1: So maybe I should rent this out instead. And they 276 00:13:11,880 --> 00:13:14,800 Speaker 1: don't really know what they're getting into, and then it 277 00:13:14,880 --> 00:13:18,160 Speaker 1: ends up being a mistake ultimately for them because they're 278 00:13:18,200 --> 00:13:20,680 Speaker 1: not fully prepared. So be fully prepared if you go 279 00:13:20,800 --> 00:13:24,880 Speaker 1: this route. And man, I think home ownership is just 280 00:13:25,400 --> 00:13:27,280 Speaker 1: you need to think long and hard about whether it's 281 00:13:27,320 --> 00:13:30,440 Speaker 1: for you or not. In general, we're seeing more tales 282 00:13:30,440 --> 00:13:32,760 Speaker 1: of regret from people who wanted to own a home 283 00:13:33,120 --> 00:13:35,960 Speaker 1: but over extended themselves in order to make it happen, 284 00:13:36,080 --> 00:13:39,600 Speaker 1: especially people who purchased a home in the last couple 285 00:13:39,600 --> 00:13:41,160 Speaker 1: of years. Matt. There's a lot of people who are like, 286 00:13:41,200 --> 00:13:42,880 Speaker 1: I'm trying to get out of this, or I didn't 287 00:13:42,920 --> 00:13:45,920 Speaker 1: realize it came with all the burds and hassles that 288 00:13:48,040 --> 00:13:50,360 Speaker 1: come along with home ownership. And anybody who's owned a 289 00:13:50,400 --> 00:13:52,800 Speaker 1: home would tell you, oh, yeah, No, it's like there's 290 00:13:52,840 --> 00:13:55,160 Speaker 1: part time job aspects owning a home as well, right, 291 00:13:55,200 --> 00:13:58,400 Speaker 1: there's and if you rent that it just doesn't exist 292 00:13:58,400 --> 00:14:00,000 Speaker 1: in nearly the same way. So I think home ownership 293 00:14:00,200 --> 00:14:02,480 Speaker 1: is a great goal. But yeah, you're like, you're like, 294 00:14:02,559 --> 00:14:04,960 Speaker 1: when's the guy going to show up to fix the dishwasher? Right? Oh, 295 00:14:04,960 --> 00:14:08,000 Speaker 1: wait a minute, I gotta I got that guy. That's me, 296 00:14:08,200 --> 00:14:09,520 Speaker 1: or I have to schedule it, or I have to 297 00:14:09,559 --> 00:14:12,120 Speaker 1: pay somebody to do that. That's the Yeah, I think 298 00:14:12,120 --> 00:14:14,360 Speaker 1: that's one of the things. I mean, obviously people know 299 00:14:14,440 --> 00:14:16,600 Speaker 1: that when you know, when you move from a rental 300 00:14:16,640 --> 00:14:18,840 Speaker 1: to a home that you own, you're more responsible for. 301 00:14:19,000 --> 00:14:20,800 Speaker 1: But I think it's a combination too of the fact 302 00:14:20,840 --> 00:14:25,080 Speaker 1: that we've seen prices plateau essentially, and maybe it felt 303 00:14:25,120 --> 00:14:27,440 Speaker 1: worth it as you continue to see the number increase 304 00:14:27,520 --> 00:14:30,640 Speaker 1: and you're like, Okay, well it's worth it. You you feel, 305 00:14:30,800 --> 00:14:33,040 Speaker 1: I mean, you are wealthier because of the equity that's 306 00:14:33,080 --> 00:14:35,040 Speaker 1: being built in that home. But it's I think it's 307 00:14:35,080 --> 00:14:37,640 Speaker 1: the combination of the fact that that's sort of leveled 308 00:14:37,640 --> 00:14:40,160 Speaker 1: off a little bit, so you're not seeing the equity 309 00:14:40,200 --> 00:14:41,840 Speaker 1: growth in that, so you're not seeing your net worth 310 00:14:41,840 --> 00:14:44,240 Speaker 1: grow and while at the same time we've seen the 311 00:14:44,320 --> 00:14:47,360 Speaker 1: number of folks who are auto enrolled and especially work 312 00:14:48,040 --> 00:14:50,880 Speaker 1: work sponsored retirement plans like that has become this sort 313 00:14:50,920 --> 00:14:53,360 Speaker 1: of automatic default thing, right, Like, the reason that home 314 00:14:53,400 --> 00:14:57,080 Speaker 1: ownership has been such a win for for Americans over 315 00:14:57,120 --> 00:14:59,520 Speaker 1: the decades is because of the fact that it's a 316 00:14:59,520 --> 00:15:02,680 Speaker 1: force method of savings, and essentially we're getting that more 317 00:15:02,720 --> 00:15:05,200 Speaker 1: and more with workplace retirement accounts, with the four to 318 00:15:05,200 --> 00:15:07,560 Speaker 1: one ks, And so, on one hand, there's this thing 319 00:15:07,600 --> 00:15:10,360 Speaker 1: that takes a ton of work, it's a hassle, a 320 00:15:10,400 --> 00:15:12,760 Speaker 1: lot of folks don't enjoy doing it. And on the 321 00:15:12,760 --> 00:15:14,760 Speaker 1: other hand, you see your four one K just kind 322 00:15:14,800 --> 00:15:17,200 Speaker 1: of like grown like gangbusters, and you think, wait a minute, 323 00:15:17,200 --> 00:15:20,640 Speaker 1: why am I even doing this? Not to mention I 324 00:15:20,680 --> 00:15:23,120 Speaker 1: saw it so that the article you're referencing was from 325 00:15:23,120 --> 00:15:25,760 Speaker 1: the cut and one of the people they talked to 326 00:15:25,880 --> 00:15:27,400 Speaker 1: is like, Man, we got a new toilet, but we 327 00:15:27,440 --> 00:15:29,920 Speaker 1: can't even get a plumber out here to install the toilet. 328 00:15:30,280 --> 00:15:34,400 Speaker 1: It's just funny because it's not because they no plumber 329 00:15:34,400 --> 00:15:36,520 Speaker 1: would return their calls. It's because they can't afford to 330 00:15:36,520 --> 00:15:38,400 Speaker 1: have some much amount of it's expensive. It's tough to 331 00:15:38,440 --> 00:15:41,320 Speaker 1: find it's finding good work. But that's yeah, it's helpful 332 00:15:41,400 --> 00:15:43,040 Speaker 1: to be able to take on some of these projects. 333 00:15:43,080 --> 00:15:45,480 Speaker 1: Like literally swapping out of toilet was one of the 334 00:15:45,520 --> 00:15:49,240 Speaker 1: earliest home projects I did on the first property that 335 00:15:49,280 --> 00:15:51,960 Speaker 1: we purchased as an investment property. It's not that hard. 336 00:15:52,000 --> 00:15:54,880 Speaker 1: You just on bolth that sucker, pull it up, scrape 337 00:15:54,920 --> 00:15:56,640 Speaker 1: off the wax ring, put a new one, you know, 338 00:15:57,040 --> 00:15:58,680 Speaker 1: new toes, even they even come with a wax ring. 339 00:15:58,720 --> 00:16:02,720 Speaker 1: Like it's all there. There's nothing overly complicated about it. 340 00:16:02,800 --> 00:16:04,840 Speaker 1: And I don't know, sometimes it takes just a little 341 00:16:04,840 --> 00:16:07,080 Speaker 1: bit of trial and error and kind of figuring your 342 00:16:07,080 --> 00:16:09,800 Speaker 1: way through it. You're right. I think some people who 343 00:16:09,920 --> 00:16:11,640 Speaker 1: bought a home in the last couple of years they're 344 00:16:11,680 --> 00:16:14,000 Speaker 1: frustrated because they're like, the price run up hasn't been 345 00:16:14,840 --> 00:16:17,560 Speaker 1: what it was over the last decade. Yeah, and when 346 00:16:17,560 --> 00:16:19,400 Speaker 1: things level out and your home equhen he's not growing. 347 00:16:19,480 --> 00:16:21,520 Speaker 1: You're like, but I thought that was the ticket to 348 00:16:21,520 --> 00:16:23,880 Speaker 1: building wealth. You know what this said over many years 349 00:16:23,920 --> 00:16:26,120 Speaker 1: that it's not. It's not necessarily the ticket. And then 350 00:16:26,120 --> 00:16:28,080 Speaker 1: also maybe people put off more than they could chew 351 00:16:28,360 --> 00:16:30,560 Speaker 1: and so they're a little house poor, which feels kind 352 00:16:30,560 --> 00:16:32,200 Speaker 1: of like tying an anvil around your waist. You're like, 353 00:16:32,240 --> 00:16:34,840 Speaker 1: I'm stuck to this thing. It's nice. I like the 354 00:16:34,880 --> 00:16:38,200 Speaker 1: house maybe, but it's not the financial it's not providing 355 00:16:38,200 --> 00:16:40,760 Speaker 1: the financial benefit that I thought, and actually it's costing 356 00:16:40,840 --> 00:16:43,200 Speaker 1: me more than I would have hoped as well. Totally agree. Yeah, 357 00:16:43,240 --> 00:16:45,560 Speaker 1: this reminds me of conversations I remember having with friends 358 00:16:45,720 --> 00:16:50,600 Speaker 1: who after the Great Recession and the housing bust these 359 00:16:50,760 --> 00:16:52,600 Speaker 1: it was a similar kind of conversation where they saw 360 00:16:52,640 --> 00:16:55,960 Speaker 1: folks getting burned and so with that they opted to 361 00:16:56,440 --> 00:16:59,520 Speaker 1: rent for a number of years. And there can be 362 00:16:59,520 --> 00:17:01,800 Speaker 1: several reasons why you make that decision, but they also 363 00:17:01,840 --> 00:17:05,359 Speaker 1: missed out on buying when there was when the opportunity 364 00:17:05,440 --> 00:17:07,040 Speaker 1: was the best. Yeah, and I don't know. That's something 365 00:17:07,080 --> 00:17:10,160 Speaker 1: I think about too, how how we're impacted by recent 366 00:17:10,200 --> 00:17:12,600 Speaker 1: events and how that shapes how we view things, especially 367 00:17:12,600 --> 00:17:15,640 Speaker 1: something as big as the purchasing of a home. Let's 368 00:17:15,640 --> 00:17:18,240 Speaker 1: talk about student loans, Joel, because the Treasury Department is 369 00:17:18,280 --> 00:17:22,879 Speaker 1: officially taking over student loans uh. The Department of Education 370 00:17:22,960 --> 00:17:25,880 Speaker 1: announced at the end of last week that it's finally happening. 371 00:17:26,160 --> 00:17:29,040 Speaker 1: It will be done in phases, So the first phase 372 00:17:29,119 --> 00:17:31,960 Speaker 1: is going to include collecting on debt that is in default. 373 00:17:33,160 --> 00:17:36,520 Speaker 1: The government's going to use private collection agencies as a 374 00:17:36,560 --> 00:17:41,360 Speaker 1: way of attempting to essentially like rehabilitate borrowers who are behind, 375 00:17:42,280 --> 00:17:45,160 Speaker 1: and then transfer of all student loans and the different 376 00:17:45,480 --> 00:17:48,000 Speaker 1: financial aid programs are going to take place after that. 377 00:17:49,040 --> 00:17:52,359 Speaker 1: So we'll see how it, how it unfolds, how how 378 00:17:52,400 --> 00:17:55,520 Speaker 1: they roll it out. It's likely going to be confusing, 379 00:17:56,200 --> 00:17:58,440 Speaker 1: and as we see with a lot of things where 380 00:17:58,440 --> 00:18:03,160 Speaker 1: the government's involved, this not oftentimes the most streamlined, smooth 381 00:18:03,200 --> 00:18:06,439 Speaker 1: operator kind of process that takes place and getting that 382 00:18:06,440 --> 00:18:10,040 Speaker 1: customer service right if you're having an issue, it could 383 00:18:10,320 --> 00:18:13,639 Speaker 1: could be periless or non existent. So yeah, I'm curious 384 00:18:13,680 --> 00:18:17,280 Speaker 1: to see how this checks out. I'm not super excited 385 00:18:17,320 --> 00:18:19,239 Speaker 1: to see. Probably going to be how focks are going 386 00:18:19,280 --> 00:18:21,840 Speaker 1: to get burned, a lot of frustrated borrowers. If it 387 00:18:21,840 --> 00:18:24,159 Speaker 1: doesn't work out that way, then all right, Yeah, I'm pumped. 388 00:18:24,200 --> 00:18:26,640 Speaker 1: It's just not the expect Come on, the government set 389 00:18:26,680 --> 00:18:28,880 Speaker 1: their expectations. They've set the bar up as to what 390 00:18:28,920 --> 00:18:32,160 Speaker 1: our expectations should be when it comes to executing something 391 00:18:32,240 --> 00:18:35,399 Speaker 1: like this. Well, well, another kind of debt mat personal loans, 392 00:18:35,560 --> 00:18:38,000 Speaker 1: They are the hot new debt product. They are the 393 00:18:38,680 --> 00:18:43,680 Speaker 1: Hansole of Zoolander of debt. Right, And so TransUnion has 394 00:18:44,200 --> 00:18:47,359 Speaker 1: some new numbers out and they're basically saying that personal 395 00:18:47,359 --> 00:18:50,160 Speaker 1: loans are being taken out in record numbers right now. 396 00:18:50,160 --> 00:18:52,800 Speaker 1: For a lot of people. It's the goal of getting 397 00:18:52,800 --> 00:18:55,239 Speaker 1: a personal loans to consolidate debt, right, so that they 398 00:18:55,240 --> 00:18:57,480 Speaker 1: pay less interest. Like, well, if I turn my credit 399 00:18:57,480 --> 00:19:00,000 Speaker 1: card debt into a personal loan, well, I'm making out 400 00:19:00,119 --> 00:19:03,480 Speaker 1: can band it right because it's it's a lower interest 401 00:19:03,520 --> 00:19:05,680 Speaker 1: rate attached to a personal loan than what you pay 402 00:19:06,000 --> 00:19:10,120 Speaker 1: on a credit card. But personal loans suck. We don't 403 00:19:10,160 --> 00:19:12,480 Speaker 1: like personal loans at all. Our friends at Money Management 404 00:19:12,520 --> 00:19:16,320 Speaker 1: International report that forty percent of folks who come to 405 00:19:16,400 --> 00:19:20,520 Speaker 1: them have a personal loan now versus only twenty seven 406 00:19:20,560 --> 00:19:23,560 Speaker 1: percent just a few years ago. So more and more people. 407 00:19:23,760 --> 00:19:26,960 Speaker 1: It's just another debt vehicle that people are adding on 408 00:19:27,359 --> 00:19:31,119 Speaker 1: to the titanic of their personal finances that is sinking 409 00:19:31,240 --> 00:19:34,920 Speaker 1: into the cold, cold ocean. And these average interest rates 410 00:19:34,960 --> 00:19:37,160 Speaker 1: on personal loans for folks with great credit are still 411 00:19:37,200 --> 00:19:39,320 Speaker 1: in double digits. So like, if you Matt wanted to 412 00:19:39,320 --> 00:19:42,320 Speaker 1: go get a personal loan, you're probably still paying like 413 00:19:42,359 --> 00:19:46,240 Speaker 1: twelve or thirteen percent, Like not very attractive. It's better 414 00:19:46,320 --> 00:19:49,080 Speaker 1: than most credit cards. Is better than credit Yeah, if 415 00:19:49,200 --> 00:19:52,520 Speaker 1: the if personal loans are around twelve and I think 416 00:19:52,560 --> 00:19:55,680 Speaker 1: average credit cards are around nineteen, so it's I mean it's significant. Yeah, 417 00:19:55,720 --> 00:19:57,560 Speaker 1: but it is not the golden ticket that I think 418 00:19:57,600 --> 00:19:59,159 Speaker 1: a lot of people think it is. Like that's the 419 00:19:59,200 --> 00:20:03,400 Speaker 1: difference if you if you're looking to borrow your Titanic reference, 420 00:20:03,440 --> 00:20:06,719 Speaker 1: if you are, if you view these personal loans as 421 00:20:06,760 --> 00:20:09,680 Speaker 1: the wooden door that you think you're gonna be able 422 00:20:09,720 --> 00:20:12,040 Speaker 1: to in the cold, cold water, I don't know, it 423 00:20:12,600 --> 00:20:14,760 Speaker 1: is not. Yeah, I don't think things are gonna you're 424 00:20:14,760 --> 00:20:18,520 Speaker 1: gonna end up more like I'll never let Jack. I 425 00:20:18,560 --> 00:20:20,680 Speaker 1: still remember seeing that, seeing that movie in the theaters 426 00:20:20,680 --> 00:20:22,320 Speaker 1: in my I don't think i've ever seen it all 427 00:20:22,320 --> 00:20:25,119 Speaker 1: the ways. So then it got to the paint me 428 00:20:25,320 --> 00:20:28,199 Speaker 1: jacksone sitting next to my mom. Yeah, it's not that 429 00:20:28,200 --> 00:20:31,320 Speaker 1: they're inherently evil personal loans, but if you are again 430 00:20:31,359 --> 00:20:33,800 Speaker 1: clinging to those as your only lifeline, you gotta have 431 00:20:33,840 --> 00:20:35,680 Speaker 1: a plan. You certainly you've got to have a plan. 432 00:20:35,760 --> 00:20:37,520 Speaker 1: And then, unfortunately, I think people are putting too much 433 00:20:37,520 --> 00:20:41,080 Speaker 1: weight on the personal loan as how they're gonna be 434 00:20:41,119 --> 00:20:43,360 Speaker 1: able to escape it, when in reality there's that underlying 435 00:20:43,440 --> 00:20:45,720 Speaker 1: behavioral change that needs to take place. Also, Joel, I 436 00:20:45,720 --> 00:20:48,320 Speaker 1: wish I could have been there right on the other 437 00:20:48,320 --> 00:20:51,480 Speaker 1: side of you. I wish I wasn't there with your mind. 438 00:20:51,520 --> 00:20:54,040 Speaker 1: I still like that memory is, It's seared into my brain. 439 00:20:54,800 --> 00:20:56,360 Speaker 1: Oh man, I don't think. I don't think my mom 440 00:20:56,400 --> 00:20:59,720 Speaker 1: remembers it, like but for mewwd thing. Ever, next time 441 00:20:59,720 --> 00:21:01,520 Speaker 1: we hang out all together, I'm going to ask her, 442 00:21:01,880 --> 00:21:04,160 Speaker 1: do you remember going to see Titanic with Joel when 443 00:21:04,160 --> 00:21:08,359 Speaker 1: he was year old? Yeah? However old you were. All right, 444 00:21:08,400 --> 00:21:10,760 Speaker 1: we've got more to get to. We're gonna talk about 445 00:21:11,240 --> 00:21:13,479 Speaker 1: the story. I'm most excited about selling plasma. We'll get 446 00:21:13,560 --> 00:21:24,119 Speaker 1: to that more right after this. All right, we're back, Mattie. 447 00:21:24,240 --> 00:21:26,240 Speaker 1: Let's get to the lucras headline of the week. Let's 448 00:21:26,240 --> 00:21:29,680 Speaker 1: do it. This one comes from Pro Publica and the 449 00:21:29,720 --> 00:21:32,720 Speaker 1: headline reads, Credit bureaus are leaving more mistakes on frustrated 450 00:21:32,720 --> 00:21:38,800 Speaker 1: consumers reports under Trump's CFPB. Matt CFPB being the Consumer 451 00:21:38,840 --> 00:21:41,440 Speaker 1: Financial Protection Bureau, And of course we've talked about them. 452 00:21:41,440 --> 00:21:45,080 Speaker 1: We actually interviewed the man who was at the helm 453 00:21:45,240 --> 00:21:48,600 Speaker 1: of the CFPV in its heyday and then its infancy, 454 00:21:48,680 --> 00:21:52,399 Speaker 1: previous president, because president was he considered the president or 455 00:21:52,440 --> 00:21:55,000 Speaker 1: like the chief CEO. Yeah, I forget what you call 456 00:21:55,160 --> 00:21:57,600 Speaker 1: the what the term for the leader of that agency is, 457 00:21:57,960 --> 00:22:01,320 Speaker 1: but he the chief protector rich your country was awesome man. 458 00:22:01,359 --> 00:22:03,560 Speaker 1: He was such a good dude, and they did a 459 00:22:03,600 --> 00:22:05,760 Speaker 1: lot of good work under his tenure at the CFPB. 460 00:22:06,000 --> 00:22:09,280 Speaker 1: But the CFPB is not the same institution in twenty 461 00:22:09,320 --> 00:22:11,680 Speaker 1: twenty six as it was when he was at the helm. 462 00:22:11,880 --> 00:22:14,320 Speaker 1: And there have always been, by the way, problems with 463 00:22:14,359 --> 00:22:18,960 Speaker 1: credit bureaus not removing credit report errors when people notify them. 464 00:22:19,640 --> 00:22:21,760 Speaker 1: It is true the credit bureaus are We're not their 465 00:22:21,760 --> 00:22:25,360 Speaker 1: customer as individuals, so they're not attentive to our needs. 466 00:22:25,359 --> 00:22:26,880 Speaker 1: If we say, hey, there's a problem like credit report, 467 00:22:26,920 --> 00:22:30,840 Speaker 1: they're like, you're not I don't care, Like, go away, 468 00:22:30,840 --> 00:22:34,800 Speaker 1: you're bothering me. And so the problem is getting worse though, 469 00:22:34,880 --> 00:22:38,040 Speaker 1: like it's worse than it has ever been. The bureaus 470 00:22:38,119 --> 00:22:43,480 Speaker 1: are less responsive than ever before. And the CFPB used 471 00:22:43,480 --> 00:22:46,600 Speaker 1: to hold TransUnion, Equifax and Experience. They used to hold 472 00:22:46,600 --> 00:22:49,639 Speaker 1: their feet to the fire, but not so much these days. 473 00:22:49,800 --> 00:22:53,800 Speaker 1: The number of total complaints has risen substantially, but cases 474 00:22:53,840 --> 00:22:57,399 Speaker 1: where the bureaus fix the problem have dropped off a cliff. 475 00:22:57,720 --> 00:22:59,600 Speaker 1: So here's here's the data point, Matt that I found 476 00:22:59,600 --> 00:23:04,439 Speaker 1: interesting in this report from pro Publica. Experience resolved twenty 477 00:23:04,440 --> 00:23:06,840 Speaker 1: percent of complaints in twenty twenty four, which is which 478 00:23:06,840 --> 00:23:09,800 Speaker 1: is not good, right, that's bad. Twenty percent pretty rough. 479 00:23:09,960 --> 00:23:14,000 Speaker 1: But guess how many they resolved last year. Oh, I know, 480 00:23:16,440 --> 00:23:19,320 Speaker 1: it's horrendous. It's awful. Yeah, I mean it's you can't 481 00:23:19,320 --> 00:23:22,359 Speaker 1: make that up. Yeah, I will say, I guess you could, 482 00:23:22,400 --> 00:23:24,800 Speaker 1: but yeah, but it's really why would you when the 483 00:23:24,880 --> 00:23:26,320 Speaker 1: data is there for you, you don't even have to 484 00:23:26,320 --> 00:23:28,760 Speaker 1: lie drill, that's right. I will say. I'm going to 485 00:23:29,320 --> 00:23:31,320 Speaker 1: give props. I'm going to give credit to where credits 486 00:23:31,320 --> 00:23:37,080 Speaker 1: are due. That was specifically with Experience Equifax, which who 487 00:23:37,119 --> 00:23:41,200 Speaker 1: we've i mean hammered before in the past. There are 488 00:23:41,200 --> 00:23:45,800 Speaker 1: our local credit reporting agency, Local Friendly Creditor in Atlanta. 489 00:23:45,840 --> 00:23:50,560 Speaker 1: They've actually kept up with with complaints, so they're you 490 00:23:50,560 --> 00:23:52,600 Speaker 1: don't see the fall off with them specifically. So I 491 00:23:52,640 --> 00:23:55,080 Speaker 1: don't know if it's if it's more yeah. Yeah, so 492 00:23:55,200 --> 00:23:58,960 Speaker 1: TransUnion they have seen a decrease, not nearly as much 493 00:23:59,040 --> 00:24:03,119 Speaker 1: as Experience, though, so EQOFAX is like, okay, business as usual. TransUnion, 494 00:24:03,200 --> 00:24:05,240 Speaker 1: you see a slight decline, and then Experience. I don't 495 00:24:05,280 --> 00:24:07,480 Speaker 1: know what's going on over there, man, but they're totally 496 00:24:07,520 --> 00:24:10,159 Speaker 1: like just like, okay, we're going to fire everybody and 497 00:24:10,200 --> 00:24:12,479 Speaker 1: just keep breaking in the money. Perhaps I don't know 498 00:24:12,560 --> 00:24:14,479 Speaker 1: exactly how the business model. I mean, I know how 499 00:24:14,480 --> 00:24:17,200 Speaker 1: the business model works, but I'm who is being incentivized 500 00:24:17,200 --> 00:24:20,120 Speaker 1: to to not be responsive in this case. I'm yeah, 501 00:24:20,240 --> 00:24:21,720 Speaker 1: not to put my tinfoil hat on again, but I 502 00:24:21,720 --> 00:24:23,960 Speaker 1: wouldn't be surprised if it's somebody who's quite friendly with 503 00:24:23,960 --> 00:24:26,159 Speaker 1: the current administration. That's all say. Well, and there's just 504 00:24:26,240 --> 00:24:29,440 Speaker 1: there's just no cop on the beat to say, Experience, 505 00:24:29,440 --> 00:24:31,680 Speaker 1: you gotta do your job like you gotta do better. Yeah, 506 00:24:31,720 --> 00:24:36,000 Speaker 1: And consumers have little leeway. They have no place to 507 00:24:36,040 --> 00:24:40,119 Speaker 1: turn when Experience like tells them to leave them alone 508 00:24:40,320 --> 00:24:43,920 Speaker 1: or just refuses to answer their query. So a big problem. 509 00:24:44,440 --> 00:24:47,640 Speaker 1: There's sadly not a lot of a solution here. Yeah, 510 00:24:47,720 --> 00:24:49,879 Speaker 1: and it has a big impact on you know, we 511 00:24:49,920 --> 00:24:52,639 Speaker 1: talk about personal finance here, so this stretches. This is 512 00:24:52,720 --> 00:24:55,040 Speaker 1: it has ripple effects to you know, a lot of 513 00:24:55,040 --> 00:24:57,480 Speaker 1: different aspects of life. And for a lot of people, 514 00:24:57,520 --> 00:25:01,200 Speaker 1: Matt think about that. For for some people, they've already 515 00:25:01,240 --> 00:25:02,760 Speaker 1: used their credit score, they bought the house, they bought 516 00:25:02,760 --> 00:25:04,280 Speaker 1: the car they wanted or whatever. They're not planning on 517 00:25:04,320 --> 00:25:06,600 Speaker 1: making a big purchase, and so their credit score is important, 518 00:25:06,600 --> 00:25:09,800 Speaker 1: but it's not, you know, an eighty point ding because 519 00:25:09,840 --> 00:25:12,840 Speaker 1: of incorrect information isn't going to ruin their life. But 520 00:25:12,960 --> 00:25:15,440 Speaker 1: other people find out what you know, their what their 521 00:25:15,480 --> 00:25:18,400 Speaker 1: credit score is in a time of need where they're 522 00:25:18,720 --> 00:25:21,760 Speaker 1: where their credit is being pulled, and then they're like, actually, 523 00:25:21,840 --> 00:25:23,480 Speaker 1: you don't get the loan, you don't get the home, 524 00:25:23,760 --> 00:25:26,080 Speaker 1: or you're paying a much higher rate because of this 525 00:25:26,359 --> 00:25:29,000 Speaker 1: of this information of what we're seeing, even though that 526 00:25:29,040 --> 00:25:32,680 Speaker 1: information is inaccurate. So I can't imagine how frustrating that 527 00:25:32,720 --> 00:25:35,000 Speaker 1: would be to be in the process of making one 528 00:25:35,000 --> 00:25:37,040 Speaker 1: of the biggest purchases of their life and then getting 529 00:25:37,040 --> 00:25:39,040 Speaker 1: turned away because their credit buders are so bad at 530 00:25:39,040 --> 00:25:41,680 Speaker 1: their job. That's right. That's why I would recommend to 531 00:25:41,800 --> 00:25:44,200 Speaker 1: check out that annual credit report that you can actually 532 00:25:44,200 --> 00:25:47,840 Speaker 1: get weekly uh Man proactively ahead of time before you 533 00:25:47,880 --> 00:25:49,480 Speaker 1: know dig that well before you need it. And it's 534 00:25:49,480 --> 00:25:52,720 Speaker 1: important to mention that's the only website federally guaranteed to 535 00:25:52,720 --> 00:25:55,440 Speaker 1: get your credit report for free. That's right. So another 536 00:25:55,440 --> 00:25:57,280 Speaker 1: instance of how this is going to impact you, your 537 00:25:57,320 --> 00:26:00,440 Speaker 1: home insurance rates are going to be meaningfully impacted. Well, 538 00:26:00,600 --> 00:26:04,399 Speaker 1: there's an analysis of seventy million home owner policies and 539 00:26:04,400 --> 00:26:07,320 Speaker 1: they found that homeowners with low credit scores pay on 540 00:26:07,440 --> 00:26:12,320 Speaker 1: average twenty four percent more for identical coverage than someone 541 00:26:12,400 --> 00:26:15,280 Speaker 1: who has a really good score. So if you're buying 542 00:26:15,320 --> 00:26:17,199 Speaker 1: a home and your credit score isn't that great, not 543 00:26:17,240 --> 00:26:19,840 Speaker 1: only will your monthly payment increase because of higher interest 544 00:26:19,920 --> 00:26:22,840 Speaker 1: rates your mortgage rate, but you're gonna like you're adding 545 00:26:22,840 --> 00:26:26,000 Speaker 1: insult to injury because a bigger chunk of your ESCRO 546 00:26:26,240 --> 00:26:28,720 Speaker 1: is going to be going to homeowners insurance as well. 547 00:26:29,000 --> 00:26:31,040 Speaker 1: And so it's just like a double whaemi of bad 548 00:26:31,080 --> 00:26:33,560 Speaker 1: news when it comes to in particular. I mean, and 549 00:26:33,600 --> 00:26:36,800 Speaker 1: there's some folks unfortunately and like a lower score is warranted. 550 00:26:36,840 --> 00:26:40,000 Speaker 1: You know, they haven't handled it well that it's just 551 00:26:40,320 --> 00:26:42,840 Speaker 1: the reality of the system. I don't love the system, 552 00:26:42,840 --> 00:26:45,160 Speaker 1: but it's the reality of it. But even Worse though, 553 00:26:45,240 --> 00:26:49,840 Speaker 1: are instances of folks where their scores and the reports 554 00:26:50,000 --> 00:26:54,640 Speaker 1: have incorrect information and they're being substantially harmed from having 555 00:26:54,720 --> 00:26:58,000 Speaker 1: to pay more for virtually everything related to owning a home. 556 00:26:58,160 --> 00:27:00,920 Speaker 1: I think it's still wise for people to check the 557 00:27:01,000 --> 00:27:04,640 Speaker 1: reports and to file a complaint with each individual credit 558 00:27:04,680 --> 00:27:07,560 Speaker 1: bureau if they see a mistake in hopes that there 559 00:27:07,520 --> 00:27:10,280 Speaker 1: will be a correction, right, and you might. In case 560 00:27:10,320 --> 00:27:13,680 Speaker 1: of Equifax, you're more likely to actually have them interviewed 561 00:27:13,720 --> 00:27:17,800 Speaker 1: on your behalf and roughly twenty to thirty percent chance 562 00:27:17,840 --> 00:27:20,679 Speaker 1: of having that fixed. Yeah, so it's not nothing. And 563 00:27:20,720 --> 00:27:22,120 Speaker 1: then if you do have an issue, I would still 564 00:27:22,160 --> 00:27:25,600 Speaker 1: file a complaint with at Consumer Finance dot gov. You're 565 00:27:25,720 --> 00:27:29,600 Speaker 1: just less likely to have someone take your complaints seriously 566 00:27:29,600 --> 00:27:31,960 Speaker 1: and do something about it in twenty twenty six and 567 00:27:32,040 --> 00:27:34,280 Speaker 1: you would have been back in the day. And I 568 00:27:34,359 --> 00:27:36,000 Speaker 1: know that's just a frustrating place to be. So I 569 00:27:36,040 --> 00:27:39,640 Speaker 1: would still continue that, go about that process the way 570 00:27:39,680 --> 00:27:42,680 Speaker 1: it exists. If you're having an issue, but man, is 571 00:27:42,720 --> 00:27:45,639 Speaker 1: it going to get fixed? Well, it's less likely than before. 572 00:27:45,840 --> 00:27:48,680 Speaker 1: Less likely. All right, Joe, let's talk about plasma. Let's 573 00:27:48,720 --> 00:27:51,200 Speaker 1: go this is something we've talked about in the past 574 00:27:51,280 --> 00:27:54,000 Speaker 1: as a side hustle. You specifically did this while you 575 00:27:54,040 --> 00:27:56,560 Speaker 1: were in college, and we're calling you mentioning that we've 576 00:27:56,560 --> 00:28:01,639 Speaker 1: got listeners who have emailed us about their plasma selling endeavors, 577 00:28:01,680 --> 00:28:04,240 Speaker 1: like just even to have some extra cash on hand. 578 00:28:04,720 --> 00:28:07,280 Speaker 1: But the Times they had an article about middle class 579 00:28:07,280 --> 00:28:10,520 Speaker 1: folks who feel forced into selling plasma just to get by. 580 00:28:10,960 --> 00:28:15,280 Speaker 1: So new data finds that plasma donation centers are increasingly 581 00:28:15,320 --> 00:28:20,400 Speaker 1: open in like fancier, nicer parts of town, like wealthier 582 00:28:20,400 --> 00:28:25,359 Speaker 1: suburbs and more expensive neighborhoods within cities, and man, the 583 00:28:25,400 --> 00:28:27,919 Speaker 1: fact is, so I hate that folks are doing it 584 00:28:27,960 --> 00:28:29,440 Speaker 1: because they feel like they need to do that in 585 00:28:29,560 --> 00:28:31,879 Speaker 1: order to get by. But I not gonna lie. I 586 00:28:31,880 --> 00:28:33,760 Speaker 1: do like the opportunity for folks here because you can 587 00:28:33,800 --> 00:28:37,720 Speaker 1: make some pretty decent money by donating plasma. In the 588 00:28:38,280 --> 00:28:40,320 Speaker 1: article or talking about folks who are making over five 589 00:28:40,400 --> 00:28:43,600 Speaker 1: hundred dollars a month by going fairly regularly, which is 590 00:28:43,680 --> 00:28:46,200 Speaker 1: usually two times a week, and it's about an hour 591 00:28:46,320 --> 00:28:49,200 Speaker 1: per visit. So yeah, if you do that, yeah, that's 592 00:28:49,280 --> 00:28:52,520 Speaker 1: not an insignificant amount of money. It's not. But we'll 593 00:28:52,520 --> 00:28:56,200 Speaker 1: link to a calculator. And this is an awesome calculator. 594 00:28:56,200 --> 00:28:59,760 Speaker 1: It's called Plasma pay calculator, and you can actually see 595 00:28:59,760 --> 00:29:03,680 Speaker 1: how much you can make to find donation centers that 596 00:29:03,720 --> 00:29:05,920 Speaker 1: are close to you. And of course this is why 597 00:29:05,960 --> 00:29:08,480 Speaker 1: I'm excited drill, because I looked into it and in 598 00:29:08,600 --> 00:29:10,880 Speaker 1: our area, do you know how much I can make? 599 00:29:11,640 --> 00:29:14,320 Speaker 1: I think I looked at eight hundred plus dollars yes 600 00:29:15,200 --> 00:29:18,080 Speaker 1: a month, pretty nuts, close to one thousand dollars a month. 601 00:29:18,280 --> 00:29:21,920 Speaker 1: And this was going once a month. No, yes, no, 602 00:29:21,960 --> 00:29:24,200 Speaker 1: I'm not going once. Yes, there's no way. I'm I'm 603 00:29:24,240 --> 00:29:26,760 Speaker 1: telling you I don't. Maybe the calculator is broken, but 604 00:29:26,880 --> 00:29:30,280 Speaker 1: I put in input my information and because usually there's 605 00:29:30,360 --> 00:29:33,400 Speaker 1: like if you go once a week, the first payout 606 00:29:33,440 --> 00:29:35,000 Speaker 1: is smaller. If you go twice in that week, the 607 00:29:35,000 --> 00:29:38,080 Speaker 1: second pout's bigger, so they're incentivizing you to come twice. Okay, 608 00:29:38,120 --> 00:29:40,520 Speaker 1: maybe the calculator was broken, but I would encourage folks 609 00:29:40,560 --> 00:29:42,920 Speaker 1: to check it out, because there's no way once a month, 610 00:29:43,040 --> 00:29:45,640 Speaker 1: once a month, and it happened calculator's broken, and then we 611 00:29:45,640 --> 00:29:48,120 Speaker 1: shouldn't recommend the calculator that there's no way or if 612 00:29:48,120 --> 00:29:50,480 Speaker 1: it is, please go prove this and because I will drink. 613 00:29:50,520 --> 00:29:52,840 Speaker 1: I've never done this before, so I saw that in 614 00:29:52,880 --> 00:29:54,959 Speaker 1: my eyes got big. Okay, so maybe we'll just make 615 00:29:55,000 --> 00:29:57,120 Speaker 1: a pact if it truly is that much like we 616 00:29:57,320 --> 00:30:00,400 Speaker 1: should be going and donating plasma, which, by the way, 617 00:30:00,440 --> 00:30:03,720 Speaker 1: we shouldn't call it donating plasma why because it's not donating. 618 00:30:04,040 --> 00:30:08,840 Speaker 1: You donate clothes to a shelter who needs clothing. You 619 00:30:08,880 --> 00:30:12,000 Speaker 1: donate food to have a food kitchen. This is business, 620 00:30:12,200 --> 00:30:16,520 Speaker 1: Like do you people who are listening, You don't drive 621 00:30:16,520 --> 00:30:18,600 Speaker 1: into the office to donate some of your time to 622 00:30:18,680 --> 00:30:21,080 Speaker 1: the company that you work for. There's not people who 623 00:30:21,120 --> 00:30:24,760 Speaker 1: are donating their services. No, No, this is this is 624 00:30:24,760 --> 00:30:27,120 Speaker 1: a it's a side gig, you know, like, this is 625 00:30:27,160 --> 00:30:30,320 Speaker 1: this is purely business. Don't donating implies like you're doing 626 00:30:30,320 --> 00:30:32,560 Speaker 1: it out of just the goodwill of your heart to 627 00:30:32,560 --> 00:30:34,880 Speaker 1: be able to further society. And that's not what's going 628 00:30:34,880 --> 00:30:37,160 Speaker 1: on here. That's all right, And I think you're I 629 00:30:37,200 --> 00:30:40,840 Speaker 1: may quibble with the term. Yeah, people who don't mind 630 00:30:41,160 --> 00:30:45,239 Speaker 1: trading their time and plasma for cash, like, go for it. 631 00:30:45,280 --> 00:30:47,280 Speaker 1: I guess you're right, though, Matt, you mentioned this. I 632 00:30:47,560 --> 00:30:50,520 Speaker 1: hate the fact that some people feel like that's they're 633 00:30:50,520 --> 00:30:52,720 Speaker 1: compelled to, like, that's the only way they can make 634 00:30:52,840 --> 00:30:56,840 Speaker 1: ends meat is to go give their plasma away for money, 635 00:30:56,880 --> 00:30:59,560 Speaker 1: because how much am I going to pay the mortgage 636 00:30:59,640 --> 00:31:01,680 Speaker 1: or the rent this month? That's that's super sad, and 637 00:31:01,680 --> 00:31:03,920 Speaker 1: I think, okay, so I just I just pulled up 638 00:31:03,920 --> 00:31:07,400 Speaker 1: the calculator again because it was such you were the 639 00:31:07,440 --> 00:31:10,240 Speaker 1: force in which you were shutting down my home. So 640 00:31:10,280 --> 00:31:11,640 Speaker 1: it has to do with the fact that I guess 641 00:31:11,640 --> 00:31:14,160 Speaker 1: I'm a new donor. So maybe for the first month 642 00:31:14,200 --> 00:31:16,280 Speaker 1: you make something, make it like double or something like that. 643 00:31:16,320 --> 00:31:19,880 Speaker 1: So it says new Okay, new donors are earning eight 644 00:31:19,920 --> 00:31:22,560 Speaker 1: to twelve hundred in their first month, so even still, 645 00:31:22,560 --> 00:31:24,320 Speaker 1: that's really impressive in their first month. But not one 646 00:31:24,400 --> 00:31:26,880 Speaker 1: visit in the month. Yeah, yeah, yeah, it was okay. 647 00:31:26,920 --> 00:31:29,520 Speaker 1: Maybe there's some sort of sick bonus for I'm just saying, 648 00:31:29,560 --> 00:31:32,040 Speaker 1: all right, if it's if it's one time, I'm I 649 00:31:32,120 --> 00:31:34,560 Speaker 1: think I'm gonna do it. Do it man a thousand bucks. 650 00:31:34,640 --> 00:31:37,320 Speaker 1: I think I remember when I went there have a chat, 651 00:31:37,560 --> 00:31:40,600 Speaker 1: there was somebody listened to my audiobook. I can't remember. 652 00:31:40,600 --> 00:31:43,160 Speaker 1: I thought, at least when I donated plasma, you couldn't 653 00:31:43,160 --> 00:31:45,760 Speaker 1: have tattoos, and I know you don't have any tattoos. 654 00:31:45,760 --> 00:31:47,640 Speaker 1: I don't have any tattoos either. But for those out 655 00:31:47,640 --> 00:31:48,880 Speaker 1: there who are like, oh, maybe I will do this 656 00:31:48,920 --> 00:31:51,440 Speaker 1: to make some extra money, I don't know if you 657 00:31:51,440 --> 00:31:53,280 Speaker 1: can still donate plasma if you have tattoos, so look 658 00:31:53,320 --> 00:31:55,840 Speaker 1: into that too. Yeah, it doesn't that's not an input. 659 00:31:55,960 --> 00:31:57,800 Speaker 1: They just have like your weight and yeah, some of 660 00:31:57,840 --> 00:31:59,560 Speaker 1: the other things on there is what I remember, okay, 661 00:31:59,600 --> 00:32:01,560 Speaker 1: but yeah, well I think worth checking out. I think 662 00:32:01,600 --> 00:32:04,240 Speaker 1: one of the reasons that people are turning to additional 663 00:32:04,280 --> 00:32:07,600 Speaker 1: ways to make money, like selling their plasma is because 664 00:32:08,160 --> 00:32:10,400 Speaker 1: health care costs are such a bigger burden. In twenty 665 00:32:10,400 --> 00:32:13,440 Speaker 1: twenty six math like, a lot of people are cutting spending, 666 00:32:13,520 --> 00:32:16,920 Speaker 1: they're even borrowing money to be able to afford healthcare coverage. 667 00:32:17,040 --> 00:32:20,320 Speaker 1: We're actually seeing a dramatic drop in the number of 668 00:32:20,400 --> 00:32:24,680 Speaker 1: people who are insured. A new study from Gallup even 669 00:32:24,680 --> 00:32:27,640 Speaker 1: found that a third of Americans are skipping meals or 670 00:32:27,800 --> 00:32:31,320 Speaker 1: driving less to be able to afford health care coverage. 671 00:32:31,440 --> 00:32:33,600 Speaker 1: And we're talking about driving less, I mean gas prices 672 00:32:33,640 --> 00:32:37,560 Speaker 1: are up, like that's another thing. Especially it impacts the 673 00:32:37,600 --> 00:32:41,800 Speaker 1: poorest among us more than people who have a great 674 00:32:41,840 --> 00:32:44,760 Speaker 1: income right because because gas is one of those bare 675 00:32:44,760 --> 00:32:46,920 Speaker 1: bones needs for the average person to get to and 676 00:32:46,960 --> 00:32:49,120 Speaker 1: from work, and if you make less money, it takes 677 00:32:49,160 --> 00:32:51,800 Speaker 1: up more of your budget. And so other people are 678 00:32:52,000 --> 00:32:55,320 Speaker 1: borrowing money, sometimes from their future selves by rating their 679 00:32:55,360 --> 00:32:56,960 Speaker 1: four oh one K in order to pay for current 680 00:32:57,000 --> 00:33:00,400 Speaker 1: health care needs. Some are postponing treatments as well because 681 00:33:00,600 --> 00:33:02,680 Speaker 1: it's just too expensive. I can't afford to have that 682 00:33:02,720 --> 00:33:06,280 Speaker 1: procedure done, even though it needs to be done, because 683 00:33:06,320 --> 00:33:07,720 Speaker 1: they don't have the cash to be able to pay 684 00:33:07,720 --> 00:33:10,560 Speaker 1: for it. Trade Offs are the ultimate reality in life, 685 00:33:10,560 --> 00:33:12,880 Speaker 1: but on the healthcare front, far too many people are 686 00:33:12,920 --> 00:33:15,600 Speaker 1: finding themselves between a rock and a hard place. And Matt, 687 00:33:15,640 --> 00:33:18,440 Speaker 1: this just makes one. It makes me sad because we 688 00:33:18,480 --> 00:33:22,440 Speaker 1: live in a time and place where healthcare coverage is 689 00:33:22,440 --> 00:33:23,760 Speaker 1: prohibitive for a lot of people. If you have a 690 00:33:23,760 --> 00:33:26,360 Speaker 1: great job with killed benefits, yeah, maybe you've got a 691 00:33:26,400 --> 00:33:29,960 Speaker 1: really good, really good insurance and that's got your back. 692 00:33:31,000 --> 00:33:33,880 Speaker 1: But for something like for a big chunk of Americans, 693 00:33:34,200 --> 00:33:36,480 Speaker 1: they just don't have that to rely on, and so 694 00:33:36,520 --> 00:33:39,920 Speaker 1: it's really upending their finances in a significant way. And 695 00:33:40,000 --> 00:33:42,080 Speaker 1: if you haven't had a chance to check out my 696 00:33:42,160 --> 00:33:47,760 Speaker 1: recent conversation with Jared from Dollar four, please do, because man, 697 00:33:48,520 --> 00:33:50,280 Speaker 1: medical debt is such a problem for so many people 698 00:33:50,280 --> 00:33:51,800 Speaker 1: in our country. I was talking to a friend the 699 00:33:51,840 --> 00:33:54,040 Speaker 1: other day and she was telling me about someone she 700 00:33:54,120 --> 00:33:57,440 Speaker 1: knows who has put medical debt on a credit card 701 00:33:57,960 --> 00:34:01,680 Speaker 1: from the hospital, and man, there's like a ninety five 702 00:34:01,720 --> 00:34:05,000 Speaker 1: percent chance that she was eligible for full forgiveness of 703 00:34:05,000 --> 00:34:08,799 Speaker 1: that medical debt. And so, yeah, Jared walks through that 704 00:34:08,840 --> 00:34:11,520 Speaker 1: whole system how it works, and for a lot of people, 705 00:34:11,520 --> 00:34:14,520 Speaker 1: if you find yourself putting off a medical procedure, well 706 00:34:14,560 --> 00:34:17,960 Speaker 1: there's a decent chance that, based on financial assistant guidelines, 707 00:34:17,960 --> 00:34:22,560 Speaker 1: you might qualify for full forgiveness right of that medical bill. 708 00:34:23,480 --> 00:34:26,000 Speaker 1: And so yeah, just know your rights, know what's available 709 00:34:26,000 --> 00:34:27,759 Speaker 1: to you. That's that's really important. We covered that in 710 00:34:27,760 --> 00:34:30,440 Speaker 1: that conversation. That's right. Yeah, Jared and his team over 711 00:34:30,480 --> 00:34:33,360 Speaker 1: there at Dollar four are doing really good work. Let's 712 00:34:33,440 --> 00:34:35,680 Speaker 1: end this with talking about the price of oil maybe 713 00:34:35,719 --> 00:34:38,080 Speaker 1: real quick, Joel. We're not going to dedicate a whole 714 00:34:38,120 --> 00:34:39,840 Speaker 1: segment to it, But did you see the price of 715 00:34:39,920 --> 00:34:43,319 Speaker 1: polyethylene skyrocketed? Which is the I didn't see that. It's 716 00:34:43,320 --> 00:34:46,480 Speaker 1: the chemical compound that's responded like basically all plastics, like 717 00:34:46,520 --> 00:34:50,080 Speaker 1: you need that. And we've touched on the pain at 718 00:34:50,120 --> 00:34:52,880 Speaker 1: the pump and the price of jet fuel going up, 719 00:34:52,880 --> 00:34:56,960 Speaker 1: because those are more immediate inputs. But then as the 720 00:34:57,040 --> 00:34:58,759 Speaker 1: longer the war drags on, as we start to see 721 00:34:58,760 --> 00:35:02,319 Speaker 1: the ripple effects of the oil shock, essentially we're going 722 00:35:02,400 --> 00:35:04,640 Speaker 1: to start to see unfortunately, prices increase and we're going 723 00:35:04,719 --> 00:35:08,480 Speaker 1: to see more of an impact on our economy. And so, yeah, 724 00:35:08,560 --> 00:35:11,440 Speaker 1: price is beyond just filling up your tank exactly. Yeah, 725 00:35:11,480 --> 00:35:14,600 Speaker 1: so the strait of horror moves if that thing does 726 00:35:14,640 --> 00:35:17,759 Speaker 1: not open soon. And here's the thing between, I'll see 727 00:35:17,760 --> 00:35:20,400 Speaker 1: it overnight. It takes not just even a few weeks, right, 728 00:35:20,440 --> 00:35:23,920 Speaker 1: but it takes probably months plus to see even the 729 00:35:23,960 --> 00:35:27,480 Speaker 1: first impact. It just seems more and more likely that 730 00:35:27,640 --> 00:35:30,839 Speaker 1: we're going to see high prices, potential supply line disruptions, 731 00:35:30,920 --> 00:35:32,400 Speaker 1: and other ways that we're going to be impacted. That 732 00:35:32,440 --> 00:35:35,600 Speaker 1: will certainly keep an eye on in the coming weeks. Sure, 733 00:35:35,680 --> 00:35:37,680 Speaker 1: and all that to say, maybe the war's over by 734 00:35:37,719 --> 00:35:39,919 Speaker 1: the time, like ten minutes from now, because I feel 735 00:35:39,920 --> 00:35:41,480 Speaker 1: like that's how quickly things were. I heard we won 736 00:35:41,560 --> 00:35:43,719 Speaker 1: the war just a couple of days ago. We want it. Yeah, 737 00:35:43,800 --> 00:35:45,800 Speaker 1: so why isn't it over? There's a difference between I 738 00:35:45,800 --> 00:35:48,920 Speaker 1: guess I don't understand completing and winning it. Perhaps, Yeah, 739 00:35:48,960 --> 00:35:50,920 Speaker 1: but that's going to be it for our Friday flight. 740 00:35:50,960 --> 00:35:53,920 Speaker 1: We hope everyone has a fantastic weekend. You can find 741 00:35:54,120 --> 00:35:57,319 Speaker 1: some of the resources we mentioned during this episode up 742 00:35:57,360 --> 00:35:59,840 Speaker 1: on the website at how somebody dot com, including the 743 00:36:00,360 --> 00:36:03,520 Speaker 1: Plasma pay calculator. Even if it's that, Joel and I 744 00:36:03,520 --> 00:36:05,880 Speaker 1: are gonna check out. Yeah, well, we'll have to do 745 00:36:05,960 --> 00:36:08,279 Speaker 1: some personal testing to see if it's rigged or if 746 00:36:08,280 --> 00:36:09,759 Speaker 1: it if it really works, I think it's because I 747 00:36:09,760 --> 00:36:11,759 Speaker 1: did select. I was the first timers. Okay, I think 748 00:36:11,800 --> 00:36:15,799 Speaker 1: it boosted boosted the pay even for that singular singular visit. 749 00:36:15,840 --> 00:36:17,719 Speaker 1: Go get your money, buddy. We'll see. All right, that's 750 00:36:17,760 --> 00:36:19,640 Speaker 1: gonna be it some until next time. Best friends out, 751 00:36:19,719 --> 00:36:37,080 Speaker 1: Best Friends Out. It's like nine fifty fifty bucks.