1 00:00:00,080 --> 00:00:02,759 Speaker 1: Welcome to How the Money. I'm Joel and I'm Matt. 2 00:00:03,040 --> 00:00:07,080 Speaker 1: Today we're discussing credit scores rising, easy small dollar loans, 3 00:00:07,360 --> 00:00:29,040 Speaker 1: and Shacobs in streaming. That's right, Joel. We are going 4 00:00:29,080 --> 00:00:31,120 Speaker 1: to get to those stories plus a bunch more on 5 00:00:31,160 --> 00:00:34,000 Speaker 1: our Friday Flight episode. That's where we talk about some 6 00:00:34,040 --> 00:00:36,240 Speaker 1: of the different headlines man, that we came across this week, 7 00:00:36,360 --> 00:00:39,000 Speaker 1: and we're gonna talk about how they affect and how 8 00:00:39,000 --> 00:00:41,599 Speaker 1: they pertain to our money, how they pertain to our 9 00:00:41,640 --> 00:00:44,120 Speaker 1: personal finances. But I know you wanted to talk about 10 00:00:44,159 --> 00:00:45,600 Speaker 1: leaf flowers a little bit. You kind of had like 11 00:00:45,600 --> 00:00:48,680 Speaker 1: this old man rant lined up for folks to hear. 12 00:00:49,280 --> 00:00:52,720 Speaker 1: So I'm wondering, are people just blowing leaves more? One? 13 00:00:52,760 --> 00:00:54,840 Speaker 1: It's fall, right, so you're just gonna have more leaf blowers. 14 00:00:54,960 --> 00:00:56,600 Speaker 1: But I feel like the pandemic with the work from 15 00:00:56,600 --> 00:01:00,400 Speaker 1: home stuff, people are like blowing leaves morning afternoon to night. Like, uh, 16 00:01:00,800 --> 00:01:02,880 Speaker 1: it used to be like reserved for the weekend, and 17 00:01:02,920 --> 00:01:06,200 Speaker 1: now it's like leaflowers all the time, especially as you 18 00:01:06,319 --> 00:01:08,959 Speaker 1: work from home podcasters. Man, that's not cool. It makes 19 00:01:08,959 --> 00:01:11,480 Speaker 1: it hard sometimes. Yeah. Okay, well two things. So first 20 00:01:11,520 --> 00:01:13,400 Speaker 1: of all, you said that It's happening at all hours 21 00:01:13,400 --> 00:01:15,440 Speaker 1: of the day. And so what that tells me is 22 00:01:15,440 --> 00:01:18,120 Speaker 1: that more and more people are hiring services to do 23 00:01:18,160 --> 00:01:21,120 Speaker 1: it because services, you know, like long service companies, they're 24 00:01:21,120 --> 00:01:22,440 Speaker 1: not just doing it on the weekend. They're doing it 25 00:01:22,480 --> 00:01:24,520 Speaker 1: all throughout the week. Because that's true, that's their job, right. 26 00:01:24,640 --> 00:01:26,720 Speaker 1: But I'm seeing my neighbors out there physically, but then 27 00:01:26,800 --> 00:01:28,640 Speaker 1: they're doing it themselves. Yeah, it tells me that they 28 00:01:28,680 --> 00:01:31,399 Speaker 1: don't have enough work. My neighbor a cross the street 29 00:01:31,400 --> 00:01:33,959 Speaker 1: literally during lunch, and I'm sure, you know, he's working 30 00:01:33,959 --> 00:01:36,160 Speaker 1: a full eight hour day, but literally I go home 31 00:01:36,160 --> 00:01:38,400 Speaker 1: for lunch and I see him out in the front yard. 32 00:01:38,440 --> 00:01:41,080 Speaker 1: Maybe instead of eating a sandwich or something, he was 33 00:01:41,120 --> 00:01:42,920 Speaker 1: air rating his front yards was to get out there 34 00:01:42,959 --> 00:01:44,600 Speaker 1: do some do some yard work. I get it, dude. 35 00:01:44,600 --> 00:01:47,199 Speaker 1: I think that's just like partly the flexibility of working 36 00:01:47,280 --> 00:01:49,480 Speaker 1: from home. People are like, I'm gonna get this task done, 37 00:01:49,480 --> 00:01:51,640 Speaker 1: I'm gonna get this chorre done. We're kind of getting 38 00:01:51,720 --> 00:01:53,720 Speaker 1: used to like a different way of working and then 39 00:01:53,800 --> 00:01:57,400 Speaker 1: involves incorporating chores into that, you know, nine to five. Yeah, 40 00:01:57,440 --> 00:01:59,200 Speaker 1: but I'm with you, though, I do miss the fact, 41 00:01:59,280 --> 00:02:02,160 Speaker 1: you know, what with all being like on the weekend. However, 42 00:02:02,360 --> 00:02:04,880 Speaker 1: that being said, I really get annoyed when I'm at 43 00:02:04,920 --> 00:02:06,880 Speaker 1: home hanging out, you know, it's in the afternoon something 44 00:02:06,920 --> 00:02:09,120 Speaker 1: like that. We're hanging out on the porch, and the 45 00:02:09,120 --> 00:02:12,360 Speaker 1: blowers are constant because somebody will, you know, work in 46 00:02:12,360 --> 00:02:14,040 Speaker 1: the yard and blow blow their leaves, and then the 47 00:02:14,080 --> 00:02:15,680 Speaker 1: next neighbor will, and then somebody else will, and so 48 00:02:15,720 --> 00:02:18,840 Speaker 1: you just have like hours of just like it's like 49 00:02:18,880 --> 00:02:21,760 Speaker 1: the domino effective leave flowers. So I kind of wish 50 00:02:21,760 --> 00:02:23,720 Speaker 1: that there was like a city ordinance or something where 51 00:02:23,720 --> 00:02:25,880 Speaker 1: it's all right, everybody, you know, if it's the weekend 52 00:02:25,880 --> 00:02:28,520 Speaker 1: on Saturday, you can blow you know, your leaves between 53 00:02:28,960 --> 00:02:31,080 Speaker 1: ten and twelve in the morning or something like that, 54 00:02:31,120 --> 00:02:33,200 Speaker 1: and like everybody get it out of your system, and 55 00:02:33,240 --> 00:02:34,799 Speaker 1: that way we can all just enjoy the rest of 56 00:02:34,840 --> 00:02:38,760 Speaker 1: our afternoon without just the smell of two stroke engine fumes, 57 00:02:38,840 --> 00:02:40,760 Speaker 1: you know, choking us out, as well as the noise. 58 00:02:40,960 --> 00:02:43,800 Speaker 1: They're so stinking loud. To me, it's less the smell, 59 00:02:43,880 --> 00:02:46,360 Speaker 1: it is that noise. And you know, I'm guilty of 60 00:02:46,440 --> 00:02:48,280 Speaker 1: blowing my leaves every once in a while, but yeah, 61 00:02:48,320 --> 00:02:49,920 Speaker 1: I mean I am too. That's the thing like, I mean, 62 00:02:49,960 --> 00:02:52,120 Speaker 1: I hate it all on hand, but on the other hand, 63 00:02:52,160 --> 00:02:54,240 Speaker 1: I'm also guilty. You know. It's it's sort of like 64 00:02:54,440 --> 00:02:56,680 Speaker 1: it makes me think of when people complain about traffic. 65 00:02:56,720 --> 00:02:59,320 Speaker 1: They're like, I hate being stuck in traffic, Like what's 66 00:02:59,320 --> 00:03:01,320 Speaker 1: going on here? And and there's the saying to where 67 00:03:01,320 --> 00:03:04,280 Speaker 1: it's like, hey, you're not stuck in traffic. You are traffic, 68 00:03:04,360 --> 00:03:06,760 Speaker 1: Like you are part of the problem. And so I 69 00:03:06,760 --> 00:03:09,120 Speaker 1: think that's something there maybe remind ourselves of when we 70 00:03:09,160 --> 00:03:11,880 Speaker 1: do get a little annoyed by it, that you know, 71 00:03:11,960 --> 00:03:13,880 Speaker 1: if if we're a part of the problem, you know, 72 00:03:13,919 --> 00:03:15,519 Speaker 1: at least we can be you know, maybe a little 73 00:03:15,560 --> 00:03:17,720 Speaker 1: more considerate of our neighbors and make sure that we're 74 00:03:17,720 --> 00:03:19,920 Speaker 1: not doing it, you know, at random hours of the 75 00:03:20,000 --> 00:03:22,560 Speaker 1: evening maybe as folks are kind of winding down. Kind 76 00:03:22,560 --> 00:03:25,000 Speaker 1: of sucks to have some of those backpack blowers blasting, 77 00:03:25,120 --> 00:03:27,760 Speaker 1: you know, in your backyard or in somebody else's backyard 78 00:03:27,800 --> 00:03:29,440 Speaker 1: when you're kind of sitting down for dinners. All right, 79 00:03:29,560 --> 00:03:31,160 Speaker 1: I mean, all I'm asking for is the kids off 80 00:03:31,200 --> 00:03:33,680 Speaker 1: my lawn and the leaf blowers off. Okay, I'm an 81 00:03:33,720 --> 00:03:35,960 Speaker 1: old man before my time, dude, And of course I'm kidding. 82 00:03:36,000 --> 00:03:38,840 Speaker 1: Kids are welcome on my lawn and any talk. All right, 83 00:03:38,880 --> 00:03:41,360 Speaker 1: let's get to uh the Friday flight mat the stories 84 00:03:41,360 --> 00:03:44,160 Speaker 1: that we found interesting this week, they really do affect 85 00:03:44,280 --> 00:03:47,640 Speaker 1: our personal finances. Let's start off with some good news today. 86 00:03:47,920 --> 00:03:52,119 Speaker 1: There's been increased biking. Obviously, that's been a huge story 87 00:03:52,160 --> 00:03:54,600 Speaker 1: of the pandemic we've talked about before. Bike sales are 88 00:03:54,640 --> 00:03:56,880 Speaker 1: are way up and a lot of bike retailers just 89 00:03:57,040 --> 00:04:00,320 Speaker 1: can't keep up with demand. But specifically, there's been an 90 00:04:00,360 --> 00:04:04,640 Speaker 1: increase in in cities that aren't traditionally known for biking, 91 00:04:04,840 --> 00:04:07,560 Speaker 1: and that's really cool to see. Fitness apps Strava has 92 00:04:07,640 --> 00:04:09,800 Speaker 1: new data that shows that there have been surges in 93 00:04:09,880 --> 00:04:13,440 Speaker 1: some sprawling cities like Houston, where they've seen an increase 94 00:04:13,440 --> 00:04:17,039 Speaker 1: of a hundred and thirty eight percent right and and 95 00:04:17,160 --> 00:04:19,400 Speaker 1: Houston is one of those crazies sprawling cities right where 96 00:04:19,400 --> 00:04:21,240 Speaker 1: it's hard to get around on a bike. But l 97 00:04:21,279 --> 00:04:24,040 Speaker 1: A is another one. They've had an increase of ninety 98 00:04:24,080 --> 00:04:27,440 Speaker 1: three percent in bike ridership from just a year ago. Obviously, 99 00:04:27,480 --> 00:04:29,160 Speaker 1: you and I were big fans. We love this. It's 100 00:04:29,200 --> 00:04:32,320 Speaker 1: better for our health, better for the environment. People are 101 00:04:32,360 --> 00:04:35,560 Speaker 1: spending less on transportation cost and just fewer cars on 102 00:04:35,600 --> 00:04:37,880 Speaker 1: the road. It's just a win win win when people 103 00:04:38,000 --> 00:04:40,360 Speaker 1: bike more. And I love seeing it in cities where 104 00:04:40,839 --> 00:04:42,840 Speaker 1: you know it's more of a challenge. People are rising 105 00:04:42,880 --> 00:04:45,400 Speaker 1: up to that challenger. They're gonna give it a go anyway. Yeah, 106 00:04:45,400 --> 00:04:46,920 Speaker 1: And speaking of l A, I know you can kind 107 00:04:46,920 --> 00:04:48,600 Speaker 1: of get sucked into the World Series a little bit. 108 00:04:48,800 --> 00:04:50,720 Speaker 1: Uh l A. The Dodgers clenched it earlier this week. 109 00:04:50,760 --> 00:04:52,960 Speaker 1: You have any any thoughts on that. So I watched 110 00:04:53,120 --> 00:04:55,760 Speaker 1: very little of it, but I had watched. You know, 111 00:04:55,760 --> 00:04:58,320 Speaker 1: I'm a brave stands. I watched the Dodgers Brave series 112 00:04:58,360 --> 00:04:59,920 Speaker 1: and that was a bummer seeing my braves go out. 113 00:05:00,000 --> 00:05:01,279 Speaker 1: But I will say I turned it on in like 114 00:05:01,320 --> 00:05:04,039 Speaker 1: the fourth inning of Game six, turn on just the 115 00:05:04,120 --> 00:05:07,680 Speaker 1: right time. But I think the raising manager pulled the 116 00:05:07,920 --> 00:05:09,800 Speaker 1: picture too early. Man the starting pitcherre he showed left 117 00:05:09,839 --> 00:05:11,279 Speaker 1: him in there a few extrainings. I think the Rays 118 00:05:11,320 --> 00:05:13,120 Speaker 1: would have won Game six. It might have been a 119 00:05:13,120 --> 00:05:15,520 Speaker 1: little more of an interesting series. But congrats to the 120 00:05:15,560 --> 00:05:17,680 Speaker 1: Dodgers and Dodger fans, and congrats to l A for 121 00:05:17,800 --> 00:05:20,760 Speaker 1: driving less and biking more. Right by the way, one 122 00:05:20,800 --> 00:05:22,840 Speaker 1: other random thing to share. I was talking to my 123 00:05:22,839 --> 00:05:25,200 Speaker 1: buddy who's a from Tampa Bay. He's a big Raised fan, 124 00:05:25,520 --> 00:05:28,320 Speaker 1: and he told me that the entire payroll of the 125 00:05:28,320 --> 00:05:31,679 Speaker 1: Tampa Bay Raise is less than literally one player, Mookie 126 00:05:31,680 --> 00:05:34,200 Speaker 1: Bets for the Dodgers. So it's just interesting to see. 127 00:05:34,200 --> 00:05:36,200 Speaker 1: I'm always rooting for the underdogging that the team. That's 128 00:05:36,240 --> 00:05:38,720 Speaker 1: like playing the moneyball game, um, you know, as a 129 00:05:38,760 --> 00:05:40,640 Speaker 1: personal finance in r it, I'm like, how how little 130 00:05:40,680 --> 00:05:43,000 Speaker 1: can you spend and how great can you make this team? 131 00:05:43,000 --> 00:05:44,800 Speaker 1: And Tampa Bay had a great run. Yeah, so that's 132 00:05:44,839 --> 00:05:46,240 Speaker 1: all that as well. I think Tampa Bays pay roll 133 00:05:46,279 --> 00:05:48,919 Speaker 1: was twenty million total and the Dodgers total was a 134 00:05:48,960 --> 00:05:51,680 Speaker 1: hundred and eight million dollars. But back to biking real quick, 135 00:05:51,839 --> 00:05:54,359 Speaker 1: you know, with more people biking, I think, you know, 136 00:05:54,400 --> 00:05:56,920 Speaker 1: we need to make sure that we're protecting these new 137 00:05:56,960 --> 00:05:59,520 Speaker 1: modes of transportation. You know, for most folks, a good 138 00:05:59,600 --> 00:06:03,039 Speaker 1: you lock from a company like Kryptonite is what you need. Uh, 139 00:06:03,040 --> 00:06:05,400 Speaker 1: And you can go fanci here, but it's it's not needed, 140 00:06:05,440 --> 00:06:07,800 Speaker 1: you know. And the reason for this. Here I'll share 141 00:06:07,839 --> 00:06:11,080 Speaker 1: my philosophy on bike locks, which is that any bike 142 00:06:11,160 --> 00:06:13,039 Speaker 1: lock I think we'll keep your bike from becoming the 143 00:06:13,080 --> 00:06:15,360 Speaker 1: low hanging fruit. You know, like, if someone's walking by 144 00:06:15,440 --> 00:06:18,039 Speaker 1: they're thinking about maybe stealing a bike, they're likely going 145 00:06:18,080 --> 00:06:20,160 Speaker 1: to look for one that's not locked up at all. Right, 146 00:06:20,440 --> 00:06:22,160 Speaker 1: when you keep that in mind, I think a basic 147 00:06:22,320 --> 00:06:25,560 Speaker 1: thirty dollar lock is plenty for most folks. And it 148 00:06:25,600 --> 00:06:27,520 Speaker 1: also too it kind of depends on what you're gonna 149 00:06:27,560 --> 00:06:29,159 Speaker 1: do with your bike. You know, if you're planning to 150 00:06:29,920 --> 00:06:32,240 Speaker 1: keep it locked up like outside a coffee shop while 151 00:06:32,240 --> 00:06:34,680 Speaker 1: you go into to grab a coffee, it's probably gonna 152 00:06:34,680 --> 00:06:37,080 Speaker 1: be fine with any basic lock. But even if you 153 00:06:37,080 --> 00:06:40,240 Speaker 1: have like the nicest, fanciest, most heavy duty lock, I 154 00:06:40,240 --> 00:06:42,080 Speaker 1: don't think any bike is safe if you leave it 155 00:06:42,160 --> 00:06:45,360 Speaker 1: some republic overnights, you know, like if somebody wants your bike, uh, 156 00:06:45,520 --> 00:06:47,560 Speaker 1: like they're gonna show up the right tools and they're 157 00:06:47,560 --> 00:06:49,520 Speaker 1: gonna grind that thing off or at least get the 158 00:06:49,560 --> 00:06:52,080 Speaker 1: parts they want from your Yes, yeah, exactly, which probably 159 00:06:52,080 --> 00:06:53,920 Speaker 1: is even more if you're reading right, having to kind 160 00:06:53,920 --> 00:06:55,720 Speaker 1: of replace all these parts. But but yeah, I mean 161 00:06:55,720 --> 00:06:57,839 Speaker 1: that's those are my thoughts. At least that if you 162 00:06:57,880 --> 00:06:59,760 Speaker 1: have a nice, solid you lock, like that's gonna get 163 00:06:59,800 --> 00:07:02,160 Speaker 1: you far at least have that in particular, if you're 164 00:07:02,160 --> 00:07:04,240 Speaker 1: gonna be locking it up during the day. But I 165 00:07:04,279 --> 00:07:07,240 Speaker 1: wouldn't leave my bike personally anywhere overnight where I wasn't 166 00:07:07,279 --> 00:07:09,480 Speaker 1: able to keep it, you know, more secure, more locked 167 00:07:09,520 --> 00:07:12,200 Speaker 1: up in my in my basement. Yeah. Yeah. There's one 168 00:07:12,280 --> 00:07:14,480 Speaker 1: kid just down the street mat He's had two bikes 169 00:07:14,480 --> 00:07:17,440 Speaker 1: stolen during this pandemic. Feels so bad for him and 170 00:07:17,480 --> 00:07:19,520 Speaker 1: for his dad, who's gotta, you know, buy another bike 171 00:07:19,560 --> 00:07:20,880 Speaker 1: in the middle of a pandemic where it's hard to 172 00:07:20,880 --> 00:07:23,680 Speaker 1: find one too. So um, yeah, keep your bike locked 173 00:07:23,760 --> 00:07:25,920 Speaker 1: up and have a good lock. That's like a good investment. 174 00:07:25,960 --> 00:07:27,880 Speaker 1: If you're gonna have an ice bike, is a solid 175 00:07:27,880 --> 00:07:31,400 Speaker 1: you lock for sure, all right. Not a related transportation note, 176 00:07:32,200 --> 00:07:36,040 Speaker 1: Traffic fatality spiked during the pandemic, according to the National 177 00:07:36,160 --> 00:07:40,560 Speaker 1: Highway Traffic Safety Administration. Now this is the old NHTS 178 00:07:40,720 --> 00:07:44,280 Speaker 1: an I believe as people say, right, uh, this is 179 00:07:44,320 --> 00:07:47,280 Speaker 1: kind of crazy because you probably would have expected the opposite, 180 00:07:47,320 --> 00:07:50,360 Speaker 1: Right you would think, rationally, fewer people on the roads, 181 00:07:50,480 --> 00:07:53,560 Speaker 1: and there's gonna be fewer recks, fewer fatalities. But the 182 00:07:53,640 --> 00:07:56,600 Speaker 1: evidence actually suggests that when we perceive less risk, we 183 00:07:56,600 --> 00:07:59,200 Speaker 1: tend to engage in riskier behaviors. So when there are 184 00:07:59,200 --> 00:08:01,760 Speaker 1: fewer folks on the road, they took bigger risks and 185 00:08:01,840 --> 00:08:05,120 Speaker 1: did uh dumber things like not wearing seatbelts, like speeding 186 00:08:05,120 --> 00:08:09,080 Speaker 1: more and driving impaired. So, yeah, that's a sobering statistics 187 00:08:09,120 --> 00:08:11,000 Speaker 1: to read, but it's just another call for us all 188 00:08:11,000 --> 00:08:12,880 Speaker 1: to be safe on the roads. Yeah, and you know, 189 00:08:12,960 --> 00:08:15,000 Speaker 1: so how does this relate to our money? You know? Well, like, 190 00:08:15,040 --> 00:08:17,760 Speaker 1: I think the exact same behavior can be seen when 191 00:08:17,800 --> 00:08:20,120 Speaker 1: it comes to our personal finances. I think this can 192 00:08:20,160 --> 00:08:22,800 Speaker 1: serve as a warning for individuals who might be in 193 00:08:22,840 --> 00:08:26,320 Speaker 1: a like a good, a good solid financial position right now, 194 00:08:26,800 --> 00:08:28,880 Speaker 1: that now is the time to be more careful with 195 00:08:28,920 --> 00:08:31,160 Speaker 1: your money. You know, when we have plenty, when we 196 00:08:31,240 --> 00:08:33,800 Speaker 1: have more than we need, then I think those are 197 00:08:33,840 --> 00:08:36,160 Speaker 1: instances where we might get a little sloppy with our 198 00:08:36,160 --> 00:08:38,439 Speaker 1: money and with how we spend and how we invest. 199 00:08:38,920 --> 00:08:42,040 Speaker 1: So if you've maybe gotten say a promotion recently, maybe 200 00:08:42,040 --> 00:08:43,920 Speaker 1: you've gotten a big bonus, make sure that you're you're 201 00:08:43,960 --> 00:08:47,280 Speaker 1: taking careful precautions right maybe that you try to invest 202 00:08:47,400 --> 00:08:50,840 Speaker 1: half of that that increase. Don't be careless with your money. 203 00:08:51,040 --> 00:08:52,520 Speaker 1: I think it can be easy to fall into the 204 00:08:52,520 --> 00:08:56,040 Speaker 1: trap if you are a high wage earner where you're thinking, 205 00:08:56,200 --> 00:08:58,720 Speaker 1: you know, I can pretty much out earn like any 206 00:08:58,960 --> 00:09:01,400 Speaker 1: you know, dumb behavior that that that I might exhibit, 207 00:09:01,840 --> 00:09:04,120 Speaker 1: an't e minstake that that I might make. But man, 208 00:09:04,440 --> 00:09:07,080 Speaker 1: as we've seen, like nobody's job is super secure, and 209 00:09:07,160 --> 00:09:09,319 Speaker 1: when you have a high standard of living, you've got 210 00:09:09,320 --> 00:09:10,920 Speaker 1: you've got a lot of expenses. You might be earning 211 00:09:10,920 --> 00:09:12,960 Speaker 1: a lot of money, but you could still be living 212 00:09:12,960 --> 00:09:16,040 Speaker 1: paycheck to paycheck. So regardless, if you're a highway journal 213 00:09:16,080 --> 00:09:18,120 Speaker 1: make sure that you are doing smart things with your 214 00:09:18,120 --> 00:09:20,800 Speaker 1: money consistently. And if you're wondering what those things are, 215 00:09:20,800 --> 00:09:23,559 Speaker 1: well we have two other episodes that you can dig 216 00:09:23,600 --> 00:09:26,640 Speaker 1: into because yeah, a lot of advice for sure. And 217 00:09:26,640 --> 00:09:27,920 Speaker 1: and I agree, man, I kind of like how you 218 00:09:27,960 --> 00:09:31,200 Speaker 1: tied in those statistics of you know, roadway fatalities with 219 00:09:31,200 --> 00:09:33,240 Speaker 1: how we kindle our money. Well, it's just interesting, I 220 00:09:33,280 --> 00:09:34,640 Speaker 1: think how we how it is that we do think 221 00:09:34,640 --> 00:09:36,640 Speaker 1: about risk. I've seen something similar when it comes to 222 00:09:37,240 --> 00:09:40,559 Speaker 1: kids that were like kneepads, like elbow pads and kneepads 223 00:09:40,600 --> 00:09:42,600 Speaker 1: and helmets when they when they go bike riding. When 224 00:09:42,600 --> 00:09:45,400 Speaker 1: we feel that we're protected more, we we tend to 225 00:09:45,440 --> 00:09:47,440 Speaker 1: push the envelope a little bit instead of you know, 226 00:09:47,520 --> 00:09:50,520 Speaker 1: being a little more careful like we would from the beginning. Obviously, 227 00:09:50,520 --> 00:09:52,000 Speaker 1: this isn't an argument to say you don't need to 228 00:09:52,000 --> 00:09:54,520 Speaker 1: wear helmet a trually think that that's something that's really 229 00:09:54,520 --> 00:09:58,360 Speaker 1: important to do. But it is just interesting, how are 230 00:09:58,440 --> 00:10:00,439 Speaker 1: you know the risk that we perceived? How that ifs 231 00:10:00,480 --> 00:10:02,960 Speaker 1: depending on the different things that we surround ourselves with, 232 00:10:03,000 --> 00:10:05,720 Speaker 1: whether that be fewer drivers on the road, so you know, 233 00:10:05,800 --> 00:10:07,800 Speaker 1: we think that there's less of you know, a priority 234 00:10:07,800 --> 00:10:09,920 Speaker 1: to keep our eyes on the road, or even money 235 00:10:09,960 --> 00:10:12,520 Speaker 1: you know, when we're earning a ton of money like that, Like, honestly, 236 00:10:12,520 --> 00:10:14,480 Speaker 1: it can be easy to get cocky, and so that's 237 00:10:14,480 --> 00:10:16,440 Speaker 1: what we're trying to avoid here. Yeah, no, good point, 238 00:10:16,920 --> 00:10:19,080 Speaker 1: all right. On the note of cockiness, there was a 239 00:10:19,120 --> 00:10:22,000 Speaker 1: streaming service Quimby. Man, do you remember when they launched 240 00:10:22,760 --> 00:10:26,760 Speaker 1: like Super Bowl ads multiple expensive change your life? And like, 241 00:10:26,800 --> 00:10:28,040 Speaker 1: at first I was like, I don't even know what 242 00:10:28,040 --> 00:10:30,280 Speaker 1: this thing is. That the ads were actually um a 243 00:10:30,320 --> 00:10:32,320 Speaker 1: little it was hard to understand what the service was 244 00:10:32,320 --> 00:10:36,040 Speaker 1: even about. But now Quimby it's gone, Uh that that 245 00:10:36,160 --> 00:10:38,600 Speaker 1: service is dead. They launched with such gusto, but it 246 00:10:38,600 --> 00:10:42,360 Speaker 1: was really just a short lived experiment, and UM analysts 247 00:10:42,400 --> 00:10:45,120 Speaker 1: have given a bunch of reasons for why people weren't 248 00:10:45,160 --> 00:10:48,560 Speaker 1: digging Quimby as a streaming service, like, for instance, Quimby 249 00:10:48,600 --> 00:10:50,920 Speaker 1: it was mobile only, and then the launches during a 250 00:10:50,920 --> 00:10:54,240 Speaker 1: pandemic when people are watching content on their TVs because 251 00:10:54,240 --> 00:10:57,040 Speaker 1: they're home bore right, poor timing. So yeah, when it 252 00:10:57,080 --> 00:10:59,400 Speaker 1: comes down to it, though, people just didn't care about 253 00:10:59,400 --> 00:11:02,160 Speaker 1: the micro programming that they were offering. And there's just 254 00:11:02,200 --> 00:11:04,960 Speaker 1: such a proliferation of content providers at this point in time, 255 00:11:05,160 --> 00:11:08,880 Speaker 1: the competition is stiff. Quimby just didn't stand out for folks. Yeah, 256 00:11:08,920 --> 00:11:10,640 Speaker 1: and you know, all Quimby was kind of silly, you know, 257 00:11:10,679 --> 00:11:12,960 Speaker 1: from the beginning. There have been other stories about all 258 00:11:13,000 --> 00:11:15,920 Speaker 1: the different streaming services, how they're lacking new content to 259 00:11:16,160 --> 00:11:19,000 Speaker 1: entice customers to to stick around on their services. Right, 260 00:11:19,320 --> 00:11:21,599 Speaker 1: the pandemic obviously made it difficult to film movies and 261 00:11:21,640 --> 00:11:25,240 Speaker 1: TV shows, so the the the calendar for releasing new 262 00:11:25,400 --> 00:11:28,080 Speaker 1: stuff new content had to shift. Uh, And so you know, 263 00:11:28,160 --> 00:11:30,640 Speaker 1: consider what you are watching and whether or not you 264 00:11:30,679 --> 00:11:33,319 Speaker 1: can cut a streaming service out of your life entirely. 265 00:11:33,720 --> 00:11:36,160 Speaker 1: These recurring bills add up in our lives. And you know, 266 00:11:36,200 --> 00:11:38,319 Speaker 1: even if it's just thirteen bucks a month for Netflix 267 00:11:38,360 --> 00:11:41,360 Speaker 1: or seven bucks a month for Disney Plus, don't discount 268 00:11:41,640 --> 00:11:44,839 Speaker 1: the this regular trickle of expenses that that regularly shows 269 00:11:44,920 --> 00:11:47,280 Speaker 1: up every single month on our bank statements. Yeah, it's 270 00:11:47,280 --> 00:11:49,320 Speaker 1: easy to laugh at the smaller bills and be like, yeah, 271 00:11:49,320 --> 00:11:50,880 Speaker 1: it's not a big deal, I'll keep it around. But yeah, 272 00:11:50,920 --> 00:11:53,160 Speaker 1: we think it's important to look at every single one 273 00:11:53,280 --> 00:11:55,480 Speaker 1: and then make an informed choice and cut those things 274 00:11:55,520 --> 00:11:58,160 Speaker 1: out of your life that you're not using anymore. And 275 00:11:58,360 --> 00:12:01,280 Speaker 1: another important note in streaming news, by the way, this week, 276 00:12:01,360 --> 00:12:05,120 Speaker 1: Matt t Mobile just launched its own streaming service starting 277 00:12:05,120 --> 00:12:08,520 Speaker 1: at ten dollars a month. This service is called t Vision, 278 00:12:09,440 --> 00:12:12,119 Speaker 1: but it looks like T Vision is actually only available 279 00:12:12,320 --> 00:12:14,800 Speaker 1: for T Mobile and Sprint customers currently. Those companies are 280 00:12:14,800 --> 00:12:17,440 Speaker 1: actually merging right now. And last week we talked about 281 00:12:17,480 --> 00:12:20,080 Speaker 1: the like the high interest savings account that T Mobiles 282 00:12:20,080 --> 00:12:22,920 Speaker 1: offerings trying to take over the world, but trying to 283 00:12:22,920 --> 00:12:25,160 Speaker 1: get into every single nook and cranny of our lives. 284 00:12:25,240 --> 00:12:28,160 Speaker 1: Right uh, Well, streaming sports are always the most expensive 285 00:12:28,160 --> 00:12:31,160 Speaker 1: part of streaming TV options. If you want sports via 286 00:12:31,280 --> 00:12:33,439 Speaker 1: t mobiles new option, you're gonna have to pay forty 287 00:12:33,440 --> 00:12:36,480 Speaker 1: bucks or more a month, depending on the specific channels 288 00:12:36,520 --> 00:12:38,920 Speaker 1: you want. We'll link to the T mobile site if 289 00:12:38,960 --> 00:12:41,200 Speaker 1: you're a customer and you're interested in learning more. But 290 00:12:41,240 --> 00:12:43,160 Speaker 1: it looks like next year T Vision is going to 291 00:12:43,200 --> 00:12:45,960 Speaker 1: expand to non customers. You know, we we talked a 292 00:12:45,960 --> 00:12:48,600 Speaker 1: lot about streaming options back in episode one oh seven, Matt, 293 00:12:48,720 --> 00:12:51,800 Speaker 1: but things have actually changed a whole lot even since then. Um, 294 00:12:52,160 --> 00:12:54,720 Speaker 1: there have been mostly lots of price increases and even 295 00:12:54,760 --> 00:12:57,760 Speaker 1: more interesting competitors in the space. So so yeah, it 296 00:12:57,760 --> 00:13:00,240 Speaker 1: looks like T Vision is just like another one that 297 00:13:00,280 --> 00:13:03,080 Speaker 1: you can choose from. But again, it's important to choose 298 00:13:03,080 --> 00:13:05,880 Speaker 1: wisely and choose just a couple to keep in your 299 00:13:05,920 --> 00:13:07,760 Speaker 1: life to keep the budget down when it comes to 300 00:13:07,800 --> 00:13:09,840 Speaker 1: your streaming costs. Yeah, I mean, and regardless of what 301 00:13:09,840 --> 00:13:11,480 Speaker 1: service you end up going with, I think it's worth 302 00:13:11,520 --> 00:13:13,800 Speaker 1: mentioning to to be trying to be more strategic in 303 00:13:13,840 --> 00:13:16,520 Speaker 1: which service you're going with, depending on what content you're 304 00:13:16,520 --> 00:13:20,240 Speaker 1: trying to consume. Right today, Friday, Mandalorian season two actually 305 00:13:20,280 --> 00:13:23,880 Speaker 1: gets released on Disney Plus, and I'm totally gonna be there, man, Like, 306 00:13:23,920 --> 00:13:25,760 Speaker 1: you better believe it. I'm gonna get my my my 307 00:13:26,000 --> 00:13:29,160 Speaker 1: baby Yoda fix. But if that's you, you know, if 308 00:13:29,160 --> 00:13:31,440 Speaker 1: you're interested in that and you don't currently have Disney Plus, 309 00:13:31,480 --> 00:13:33,600 Speaker 1: we'll sign up. But then binge it. You know, like 310 00:13:33,640 --> 00:13:36,160 Speaker 1: there's ways for us to only pay that seven dollars 311 00:13:36,160 --> 00:13:39,280 Speaker 1: a month one time and then cancel that service. Right, 312 00:13:39,320 --> 00:13:40,960 Speaker 1: And so I think, you know, trying to find ways 313 00:13:41,000 --> 00:13:43,840 Speaker 1: to be more fluid but still having the ability to 314 00:13:43,880 --> 00:13:46,480 Speaker 1: have access to the content you want. I think that's 315 00:13:46,520 --> 00:13:48,400 Speaker 1: the best way that we would encourage for folks to 316 00:13:48,520 --> 00:13:50,880 Speaker 1: have their cake and eat it too. That's exactly what 317 00:13:50,920 --> 00:13:53,559 Speaker 1: Emily and I did when Chernobyl came out on HBO. 318 00:13:53,600 --> 00:13:56,480 Speaker 1: It was like four it was four episodes and are 319 00:13:57,440 --> 00:13:59,680 Speaker 1: in a week? Well, I mean yeah, but who's gonna 320 00:13:59,720 --> 00:14:02,680 Speaker 1: like sign end up for a new service just for Chernobyl? Right? 321 00:14:03,000 --> 00:14:04,760 Speaker 1: Well yeah, I mean, I'm like, I don't want HBO 322 00:14:04,840 --> 00:14:07,280 Speaker 1: fifteen bucks a month or whatever it is, like in perpetuity, 323 00:14:07,520 --> 00:14:09,720 Speaker 1: but I really want to watch Chernobyl. You guys are 324 00:14:09,720 --> 00:14:11,040 Speaker 1: into it. It It was worth it. It was so good. 325 00:14:11,120 --> 00:14:12,920 Speaker 1: It was so good. But all right, Matt, we got 326 00:14:12,960 --> 00:14:15,600 Speaker 1: more to get to including that story about credit scores 327 00:14:15,640 --> 00:14:18,960 Speaker 1: and easy small dollar loans. Will hit those stories up 328 00:14:19,000 --> 00:14:30,360 Speaker 1: after this break. All right, Joe, we're backing before we 329 00:14:30,400 --> 00:14:32,560 Speaker 1: dive into more of the meaty stories we have for 330 00:14:32,600 --> 00:14:35,960 Speaker 1: folks today. A couple of weeks ago, the new electric 331 00:14:36,040 --> 00:14:39,560 Speaker 1: hummer was released. Did you did you click through it? 332 00:14:39,920 --> 00:14:42,600 Speaker 1: By three? Three of them. I'm not surprised you're obsessed 333 00:14:42,640 --> 00:14:45,040 Speaker 1: with electric vehicles, and so I'm sure you're you're all 334 00:14:45,080 --> 00:14:47,200 Speaker 1: about that. No way, man, these things it starts at 335 00:14:47,240 --> 00:14:51,040 Speaker 1: a hundred dollars, so stupid I got that kind of cash. Yeah. 336 00:14:51,440 --> 00:14:53,360 Speaker 1: I think the sixteen year old me would have been 337 00:14:53,400 --> 00:14:55,240 Speaker 1: super excited to see that. I would have been like, oh, 338 00:14:55,280 --> 00:14:57,440 Speaker 1: this is so cool. But dude, thirty seven year old 339 00:14:57,480 --> 00:14:59,680 Speaker 1: seas and it just bums me out, you know, Like 340 00:14:59,720 --> 00:15:02,840 Speaker 1: I just it feels so silly, Like what a waste 341 00:15:02,880 --> 00:15:06,480 Speaker 1: of resources unless that's just your thing, you know, like, 342 00:15:06,520 --> 00:15:09,440 Speaker 1: it just costs so much money, and it literally makes 343 00:15:09,480 --> 00:15:11,960 Speaker 1: my stomach to kind of think about individuals who might 344 00:15:12,000 --> 00:15:14,840 Speaker 1: see that and think, oh I can afford that, you know, 345 00:15:14,880 --> 00:15:16,920 Speaker 1: like kind of going back to like the when we're 346 00:15:16,920 --> 00:15:19,080 Speaker 1: talking about perceived risk, you know, in the first segment. 347 00:15:19,160 --> 00:15:20,920 Speaker 1: But somebody who might be earning a lot of money 348 00:15:21,040 --> 00:15:22,600 Speaker 1: because you know, might be thinking, oh, that's something I 349 00:15:22,640 --> 00:15:24,600 Speaker 1: can afford. I can afford that payment. And they're not 350 00:15:24,600 --> 00:15:26,960 Speaker 1: really thinking long terms. They're not thinking about that. They 351 00:15:26,960 --> 00:15:29,280 Speaker 1: don't really have a retirement you know, account that's fully 352 00:15:29,320 --> 00:15:31,720 Speaker 1: funded or set aside. They're just looking at the payments 353 00:15:32,040 --> 00:15:34,400 Speaker 1: and they're just picturing themselves riding down the street noiselessly, 354 00:15:34,680 --> 00:15:36,000 Speaker 1: you know, in their in their car that doesn't make 355 00:15:36,040 --> 00:15:40,000 Speaker 1: any noise, with climbing boulders in that thing. Like, that's 356 00:15:40,040 --> 00:15:41,640 Speaker 1: the thing. You don't buy a vehicle that costs that 357 00:15:41,720 --> 00:15:44,000 Speaker 1: much money to go like actually off roading, you know, 358 00:15:44,080 --> 00:15:46,400 Speaker 1: Like the commercials they're like, oh, look it can do 359 00:15:46,440 --> 00:15:49,440 Speaker 1: this and like, but but in reality, most people don't 360 00:15:49,480 --> 00:15:51,760 Speaker 1: use it for that. They're just parketting their driveway and 361 00:15:51,800 --> 00:15:54,520 Speaker 1: people are like, oh cool new hummer. Um, Yeah, I'm 362 00:15:54,560 --> 00:15:57,080 Speaker 1: not getting an electric coomer even though I like electric cars. Man, 363 00:15:57,120 --> 00:15:59,240 Speaker 1: this one's just a little too far out there for me. Yeah, 364 00:15:59,280 --> 00:16:01,560 Speaker 1: it's pretty expensive. Of And speaking of crazy numbers, man, 365 00:16:01,640 --> 00:16:05,600 Speaker 1: let's talk about some misleading economic numbers. We just experienced 366 00:16:05,600 --> 00:16:08,960 Speaker 1: the best GDP, the best Gross Domestic Product report of 367 00:16:09,000 --> 00:16:13,640 Speaker 1: all time rate. That's right, But those numbers, uh, they 368 00:16:13,720 --> 00:16:15,440 Speaker 1: kind of need to be taken with a grain of salts. 369 00:16:15,560 --> 00:16:19,040 Speaker 1: The pandemic induced intensely rough numbers from Q two are 370 00:16:19,080 --> 00:16:22,160 Speaker 1: making the numbers from Q three look look pretty rosy. 371 00:16:22,200 --> 00:16:24,800 Speaker 1: But the economy, man, it's still in a tough spot, 372 00:16:25,000 --> 00:16:27,200 Speaker 1: even though we are seeing some signs of progress, right, 373 00:16:27,520 --> 00:16:29,240 Speaker 1: Just know that you're going to be seeing a lot 374 00:16:29,280 --> 00:16:32,520 Speaker 1: of headlines about these just released numbers in the days 375 00:16:32,520 --> 00:16:34,760 Speaker 1: that come, in the weeks to come. But there's still 376 00:16:34,800 --> 00:16:36,960 Speaker 1: a lot of pain out there, you know, with with 377 00:16:37,000 --> 00:16:39,640 Speaker 1: current unemployment rate of you know currently I think at 378 00:16:39,680 --> 00:16:41,800 Speaker 1: eight point four percent, and you know that doesn't even 379 00:16:41,840 --> 00:16:44,960 Speaker 1: take into account people who have stopped looking for work, 380 00:16:45,080 --> 00:16:47,520 Speaker 1: you know, given the current environment. Sorry to be a 381 00:16:47,520 --> 00:16:49,200 Speaker 1: Debbie downer here, but it's worth mentioning, you know, these 382 00:16:49,280 --> 00:16:52,720 Speaker 1: numbers aren't quite as great as they as they claim 383 00:16:52,800 --> 00:16:54,640 Speaker 1: to be. It's sort of like if I'm like out 384 00:16:54,640 --> 00:16:56,160 Speaker 1: watering the garden out in the front yard with my 385 00:16:56,240 --> 00:16:58,440 Speaker 1: hose and I pinched the hose off for three seconds, 386 00:16:58,560 --> 00:17:02,120 Speaker 1: you know, like three months for you too, and no 387 00:17:02,200 --> 00:17:04,199 Speaker 1: water comes out. It's like, oh no, where's where's all 388 00:17:04,200 --> 00:17:06,040 Speaker 1: the water? But then I'll let go of it, and 389 00:17:06,040 --> 00:17:08,560 Speaker 1: then for the next three seconds it's just like, yeah, 390 00:17:08,600 --> 00:17:10,480 Speaker 1: it's like springing that crazy, and then it goes back 391 00:17:10,480 --> 00:17:12,159 Speaker 1: to normal. It's just kind of making up for some 392 00:17:12,200 --> 00:17:15,080 Speaker 1: of that lost ground in Q. Two. It doesn't mean 393 00:17:15,119 --> 00:17:17,399 Speaker 1: that like everything's fine. Yeah, And you can make members 394 00:17:17,400 --> 00:17:20,640 Speaker 1: do almost anything or say almost anything represent any sort 395 00:17:20,640 --> 00:17:23,399 Speaker 1: of narrative that you you want to be true. And 396 00:17:23,400 --> 00:17:26,080 Speaker 1: I'm sure we'll see headlines using these numbers in a 397 00:17:26,119 --> 00:17:28,679 Speaker 1: ton of different ways to try to support a narrative. 398 00:17:29,160 --> 00:17:31,560 Speaker 1: And it's not that things aren't getting better. They are, 399 00:17:32,119 --> 00:17:34,840 Speaker 1: but things are still also hard for a lot of 400 00:17:34,840 --> 00:17:36,800 Speaker 1: people right now in our country. So it's important to 401 00:17:36,880 --> 00:17:38,840 Speaker 1: kind of know that both those things are true at 402 00:17:38,880 --> 00:17:40,840 Speaker 1: the same time. But Matt, let's follow that up with 403 00:17:40,960 --> 00:17:43,920 Speaker 1: some good news. All right, let's kind of some kind 404 00:17:43,920 --> 00:17:48,359 Speaker 1: of some some bummer hummer news, you know, some good stuff. 405 00:17:48,440 --> 00:17:51,280 Speaker 1: Let's do it. Let's do it. So, uh, credit scores 406 00:17:51,280 --> 00:17:53,639 Speaker 1: have been going up in the pandemic. That was a 407 00:17:53,720 --> 00:17:56,320 Speaker 1: recent article I saw in the Wall Street Journal that 408 00:17:56,480 --> 00:17:59,639 Speaker 1: the average credit score in America hit a record in July. 409 00:18:00,200 --> 00:18:02,240 Speaker 1: This allowed a whole lot of folks to refinance at 410 00:18:02,320 --> 00:18:05,120 Speaker 1: much better rates, cutting their monthly mortgage payments, being able 411 00:18:05,200 --> 00:18:07,240 Speaker 1: to lower their monthly bills. That was it was great 412 00:18:07,280 --> 00:18:09,560 Speaker 1: timing for so many people. And then a huge part 413 00:18:09,600 --> 00:18:12,720 Speaker 1: of this was also the priority that debt payton took 414 00:18:12,760 --> 00:18:15,680 Speaker 1: for so many Americans as they received stimulus payments and 415 00:18:15,800 --> 00:18:20,479 Speaker 1: unemployment compensation. Less debt means a lower utilization ratio, and 416 00:18:20,520 --> 00:18:23,600 Speaker 1: that leads to a better credit score, so allowing even 417 00:18:23,640 --> 00:18:27,240 Speaker 1: better race if you wanted to refin again, right, Yeah, 418 00:18:27,280 --> 00:18:29,520 Speaker 1: I mean, obviously the cost of refinancing, you probably don't 419 00:18:29,520 --> 00:18:31,000 Speaker 1: want to do that like every month, right, But it 420 00:18:31,080 --> 00:18:33,000 Speaker 1: really is a virtuous cycle though. You know, we're not 421 00:18:33,000 --> 00:18:35,280 Speaker 1: saying that like one necessarily causes the other, because then 422 00:18:35,320 --> 00:18:37,320 Speaker 1: the other kind of causes you know, the one, and 423 00:18:37,359 --> 00:18:40,360 Speaker 1: so it's it's it's a self sort of fulfilling prophecy. Yeah. 424 00:18:40,400 --> 00:18:42,880 Speaker 1: And it's just great to see people, you know, having 425 00:18:43,000 --> 00:18:45,119 Speaker 1: better credit scores because it does impact so much of 426 00:18:45,119 --> 00:18:47,640 Speaker 1: your financial life. We've talked about that a bunch, um, 427 00:18:47,720 --> 00:18:50,120 Speaker 1: so yeah, I just want to celebrate that fact. Good 428 00:18:50,119 --> 00:18:52,400 Speaker 1: to see. Yeah, a lot of listeners out there, you've 429 00:18:52,480 --> 00:18:56,280 Speaker 1: likely seen your score go up, you know, with the masses, right, 430 00:18:56,520 --> 00:18:59,040 Speaker 1: it's important to stay on top of your score. UH 431 00:18:59,040 --> 00:19:00,800 Speaker 1: and so we would recommend for hooks to to make 432 00:19:00,840 --> 00:19:03,359 Speaker 1: a priority to take a look at your your credit score, 433 00:19:03,720 --> 00:19:06,120 Speaker 1: you know, at least quarterly. But right now, all three 434 00:19:06,160 --> 00:19:09,840 Speaker 1: of the major agencies, Equifax, Experience, and trains Union have 435 00:19:09,920 --> 00:19:12,200 Speaker 1: all continued to keep your full credit report free to 436 00:19:12,600 --> 00:19:15,520 Speaker 1: access weekly. Every single week, you can have access to 437 00:19:15,560 --> 00:19:18,800 Speaker 1: your full report for free. UH and at this point, 438 00:19:18,840 --> 00:19:22,080 Speaker 1: they're going to continue that until May of one, but 439 00:19:22,280 --> 00:19:24,600 Speaker 1: there's a chance to leave an extended beyond that. UM 440 00:19:24,640 --> 00:19:27,320 Speaker 1: and so if you're looking to keep healthy credit score, 441 00:19:27,480 --> 00:19:29,480 Speaker 1: the same rules apply. You know. But if you've missed 442 00:19:29,520 --> 00:19:32,159 Speaker 1: us talking about credit scores recently, head back and checkout 443 00:19:32,200 --> 00:19:35,159 Speaker 1: episode one thirteen. That's when we talk about how to 444 00:19:35,359 --> 00:19:38,960 Speaker 1: rebuild a rough credit score. Yeah, let's talk about something 445 00:19:38,960 --> 00:19:41,120 Speaker 1: else that we saw make the news this week. There's 446 00:19:41,160 --> 00:19:45,560 Speaker 1: some new guidelines for retirement contributions to arrest just release 447 00:19:45,640 --> 00:19:48,400 Speaker 1: those guidelines, and one of the few accounts that had 448 00:19:48,680 --> 00:19:52,320 Speaker 1: increased limits were for the self employed. The amount that 449 00:19:52,359 --> 00:19:54,480 Speaker 1: you can put into a SEPI A or a solo 450 00:19:54,640 --> 00:19:56,280 Speaker 1: four oh one K will be going up from fifty 451 00:19:56,320 --> 00:19:58,840 Speaker 1: seven thousand dollars a year to fifty eight thousand dollars 452 00:19:58,880 --> 00:20:02,480 Speaker 1: a year boost. Man, I that's big news for you, right, Yeah, 453 00:20:02,520 --> 00:20:05,240 Speaker 1: just disclaimer out there, I've never saved that much money 454 00:20:06,080 --> 00:20:08,800 Speaker 1: single year. I really come quite that close. Yeah, but 455 00:20:08,960 --> 00:20:11,399 Speaker 1: for the superintent saver out there, it's good news. Uh. 456 00:20:11,440 --> 00:20:13,960 Speaker 1: And then this past Wednesday, we talked about whether you 457 00:20:14,000 --> 00:20:17,000 Speaker 1: should be an entrepreneur or work a traditional nine to 458 00:20:17,119 --> 00:20:19,040 Speaker 1: five which one is the best way to go. Obviously 459 00:20:19,040 --> 00:20:21,639 Speaker 1: that's a nuanced conversation too. Well, at least the I 460 00:20:21,720 --> 00:20:24,080 Speaker 1: r S is trying to make the self employed route 461 00:20:24,400 --> 00:20:26,240 Speaker 1: a little more attractive. So, yeah, it's one of those 462 00:20:26,240 --> 00:20:28,320 Speaker 1: things that happens about this time every year. We start 463 00:20:28,359 --> 00:20:30,280 Speaker 1: to see small changes in the amounts that that you 464 00:20:30,280 --> 00:20:33,520 Speaker 1: can put away in certain retirement accounts. Yeah, that's much 465 00:20:33,600 --> 00:20:36,880 Speaker 1: higher than what most folks can put into an employeer 466 00:20:36,920 --> 00:20:40,159 Speaker 1: sponsored for O n K, which remains the same one 467 00:20:40,200 --> 00:20:43,359 Speaker 1: at nine five hundred, as well as uh, you know 468 00:20:43,400 --> 00:20:45,800 Speaker 1: traditional and roth iras which are going to stay the 469 00:20:45,800 --> 00:20:48,960 Speaker 1: same at six thousand dollars um. So there's no changes 470 00:20:49,000 --> 00:20:51,600 Speaker 1: there for the majority of folks who have more traditional 471 00:20:51,680 --> 00:20:54,360 Speaker 1: retirement accounts, although the upside for you know those roth 472 00:20:54,440 --> 00:20:57,040 Speaker 1: ira and IRA savers out there is you know that 473 00:20:57,080 --> 00:20:59,000 Speaker 1: you can just set aside five bucks a month. I 474 00:20:59,040 --> 00:21:01,359 Speaker 1: still love how easy that is. Remember, and uh, I 475 00:21:01,480 --> 00:21:03,960 Speaker 1: like those nice even numbers. I agree. That was the 476 00:21:03,960 --> 00:21:06,439 Speaker 1: biggest change for me when it went from fifty hundred 477 00:21:06,440 --> 00:21:08,320 Speaker 1: to six thousand. I was like, it's not that I 478 00:21:08,359 --> 00:21:10,040 Speaker 1: can save an extra five hundred, it's just that it 479 00:21:10,040 --> 00:21:13,320 Speaker 1: makes it easier every single month, especially for someone like 480 00:21:13,359 --> 00:21:15,919 Speaker 1: me who has to intentionally, you know, proactively go in 481 00:21:15,920 --> 00:21:18,480 Speaker 1: there and set set that money aside myself. And so 482 00:21:18,600 --> 00:21:20,239 Speaker 1: to know that, like, all right, every every single month, 483 00:21:20,280 --> 00:21:22,040 Speaker 1: we're gonna we're shooting for five hundred bucks a month. 484 00:21:22,040 --> 00:21:25,280 Speaker 1: I love it. Um. But additionally, there are some minor 485 00:21:25,400 --> 00:21:28,080 Speaker 1: income tax bracket increases that the i R S released, 486 00:21:28,280 --> 00:21:31,159 Speaker 1: and the standard deduction actually goes up ever so slightly 487 00:21:31,280 --> 00:21:33,920 Speaker 1: next year as well. You know, it's hardly worth noting 488 00:21:34,080 --> 00:21:36,320 Speaker 1: it's kind of essentially just kind of going up with inflation. 489 00:21:36,480 --> 00:21:38,080 Speaker 1: But it's something that we want to make sure people 490 00:21:38,160 --> 00:21:40,919 Speaker 1: are aware of. Whether you have someone that helps you 491 00:21:40,960 --> 00:21:43,040 Speaker 1: with your taxes, or you're using a software, all that 492 00:21:43,080 --> 00:21:45,280 Speaker 1: kind of stuff is essentially going to be automatically put 493 00:21:45,320 --> 00:21:48,560 Speaker 1: in there. Um. But it's yeah, interesting to note alright, Matt, 494 00:21:48,600 --> 00:21:50,760 Speaker 1: let's talk about something else that we saw this week. 495 00:21:51,000 --> 00:21:54,760 Speaker 1: Bank of America has a pretty good small dollar loan 496 00:21:54,800 --> 00:21:57,720 Speaker 1: program called Balance Assist that they're going to start rolling 497 00:21:57,720 --> 00:22:00,439 Speaker 1: out at the beginning of one based. The way it 498 00:22:00,480 --> 00:22:02,520 Speaker 1: works is that customers who have had a checking account 499 00:22:02,560 --> 00:22:04,560 Speaker 1: with Bank of America for over a year, well, they 500 00:22:04,600 --> 00:22:07,400 Speaker 1: can apply to receive a loan between a hundred dollars 501 00:22:07,440 --> 00:22:10,040 Speaker 1: and five hundred dollars at a flat fee of five 502 00:22:10,119 --> 00:22:12,960 Speaker 1: dollars per loan, and effectively, when you run the numbers, 503 00:22:12,960 --> 00:22:15,600 Speaker 1: this is somewhere between a six and thirty percent rate 504 00:22:15,640 --> 00:22:18,600 Speaker 1: of interest, depending on how much you borrow, which isn't great. 505 00:22:18,800 --> 00:22:20,679 Speaker 1: But what's cool is the Bank of America says they 506 00:22:20,680 --> 00:22:24,119 Speaker 1: won't charge overdraft fees for Balance Assists payments if you 507 00:22:24,160 --> 00:22:26,160 Speaker 1: don't have enough money available when the payment is due, 508 00:22:26,320 --> 00:22:29,040 Speaker 1: and there are no late fees for miss payments. So 509 00:22:29,080 --> 00:22:31,800 Speaker 1: while debt is not ideal and almost any scenario, this 510 00:22:31,840 --> 00:22:34,160 Speaker 1: is actually a form of debt which isn't terribly harmful, 511 00:22:34,240 --> 00:22:36,960 Speaker 1: and it's cool to see a big bank actually doing 512 00:22:37,080 --> 00:22:39,480 Speaker 1: something decent for their customers. Yeah, that's true, man. You know, 513 00:22:39,480 --> 00:22:41,919 Speaker 1: Americans living paycheck to paycheck like that. That's been a 514 00:22:41,920 --> 00:22:43,919 Speaker 1: problem for quite a while. You know, it's not a 515 00:22:43,920 --> 00:22:47,359 Speaker 1: recent phenomena, but we have seen more and more modern 516 00:22:47,440 --> 00:22:49,439 Speaker 1: attempts to help people handle you know, these some of 517 00:22:49,440 --> 00:22:53,280 Speaker 1: these different unexpected expenses that they have occur in life. 518 00:22:53,480 --> 00:22:56,240 Speaker 1: Many of these attempts are far better than you know, 519 00:22:56,280 --> 00:22:58,840 Speaker 1: going to grab a payday loan, many of which have 520 00:22:59,080 --> 00:23:02,240 Speaker 1: interest rates that are effectively in the three range, which 521 00:23:02,280 --> 00:23:05,760 Speaker 1: is insane. But there's different apps out there as well 522 00:23:05,760 --> 00:23:08,440 Speaker 1: who are kind of joining in. Chime is an online 523 00:23:08,440 --> 00:23:11,000 Speaker 1: bank that offers you access to your paycheck a couple 524 00:23:11,040 --> 00:23:14,280 Speaker 1: of days early without any fees, so that's really cool. 525 00:23:14,320 --> 00:23:17,679 Speaker 1: And then the app earning will offer you the modern 526 00:23:17,720 --> 00:23:21,080 Speaker 1: equivalent of a payday loan for free. But they do 527 00:23:21,160 --> 00:23:25,040 Speaker 1: solicit these quote unquote tips uh, and if you tip 528 00:23:25,040 --> 00:23:27,560 Speaker 1: at these suggested level, then you'll be paying quite a 529 00:23:27,560 --> 00:23:30,159 Speaker 1: bit of money, uh, you know, to have access to 530 00:23:30,240 --> 00:23:34,240 Speaker 1: that cash now. Again, not the most ideal situation, but 531 00:23:34,440 --> 00:23:36,720 Speaker 1: I am encouraged to see some of these bigger banks, 532 00:23:36,800 --> 00:23:39,680 Speaker 1: some new technology kind of entering the fray that are 533 00:23:39,680 --> 00:23:42,640 Speaker 1: making those who don't have you know, money set aside 534 00:23:42,880 --> 00:23:44,440 Speaker 1: to help them kind of get through some of these 535 00:23:44,480 --> 00:23:47,600 Speaker 1: rough patches in their life without completely hammering them with 536 00:23:47,720 --> 00:23:50,480 Speaker 1: you know, ridiculous amounts of interest. Yeah, ultimately, you and 537 00:23:50,480 --> 00:23:53,359 Speaker 1: I we would suggest building a buffer instead, right, instead 538 00:23:53,359 --> 00:23:56,600 Speaker 1: of relying on these services centers. A better option completely yea. 539 00:23:56,600 --> 00:23:58,679 Speaker 1: And the better option is is having more in your 540 00:23:58,720 --> 00:24:01,920 Speaker 1: savings and for your mental sanity and for your fisical health, 541 00:24:01,960 --> 00:24:05,280 Speaker 1: that's important. There's just no substitute to a good old 542 00:24:05,359 --> 00:24:08,800 Speaker 1: fashioned emergency fund to having more money in your savings account. 543 00:24:09,000 --> 00:24:11,040 Speaker 1: And so start working towards the savings account that has 544 00:24:11,080 --> 00:24:13,840 Speaker 1: at least two thousand, four hundred and sixty seven dollars 545 00:24:13,840 --> 00:24:15,200 Speaker 1: in it. Man, I don't know if we've mentioned that 546 00:24:15,600 --> 00:24:19,720 Speaker 1: number number. Yeah, it's a great number because researchers and 547 00:24:19,760 --> 00:24:22,280 Speaker 1: economists say that that is the magic number that will 548 00:24:22,280 --> 00:24:25,199 Speaker 1: help a huge majority of Americans to handle most of 549 00:24:25,240 --> 00:24:28,240 Speaker 1: those unexpected expenses that could pop up, so that you 550 00:24:28,280 --> 00:24:31,119 Speaker 1: don't even need to consider tapping a small dollar a 551 00:24:31,119 --> 00:24:33,360 Speaker 1: loan like Bank of America's offering, and you don't need 552 00:24:33,400 --> 00:24:36,359 Speaker 1: to look towards the riskier products too that you know, 553 00:24:36,440 --> 00:24:38,159 Speaker 1: like when it comes to payday loans. There have been 554 00:24:38,200 --> 00:24:41,000 Speaker 1: so many horror stories written about what happens to people 555 00:24:41,040 --> 00:24:42,600 Speaker 1: as they take out a loan and then they have 556 00:24:42,640 --> 00:24:44,320 Speaker 1: to take out another loan to pay off the first loan, 557 00:24:44,520 --> 00:24:46,960 Speaker 1: and their whole financial life gets up ended because of it. 558 00:24:47,240 --> 00:24:50,480 Speaker 1: So yeah, we definitely want our listeners to avoid awful 559 00:24:50,480 --> 00:24:52,520 Speaker 1: products like that. Yeah, I think maybe one way you 560 00:24:52,520 --> 00:24:54,760 Speaker 1: could even think about it is think about the interests 561 00:24:54,760 --> 00:24:56,280 Speaker 1: you would pay on some of those loans as like 562 00:24:56,320 --> 00:25:01,240 Speaker 1: emergency fund insurance. And instead of you taking out an 563 00:25:01,240 --> 00:25:03,959 Speaker 1: emergency fund insurance policy, which doesn't exist by the way 564 00:25:04,000 --> 00:25:05,919 Speaker 1: I'm making this up, you're gonna self insure and your 565 00:25:05,920 --> 00:25:08,479 Speaker 1: self insured by having that money set aside in your 566 00:25:08,480 --> 00:25:11,239 Speaker 1: bank account where it's earning interest for you that you have, 567 00:25:11,400 --> 00:25:13,760 Speaker 1: you know, ready to tap at any point. That is 568 00:25:14,040 --> 00:25:16,720 Speaker 1: totally the better options. So so Joe, that's gonna be 569 00:25:16,720 --> 00:25:19,120 Speaker 1: it for this episode. I wanna tell folks to get 570 00:25:19,119 --> 00:25:21,520 Speaker 1: out there and votes. So this is the friday before 571 00:25:21,760 --> 00:25:24,600 Speaker 1: election day next week. Um, if you've got a mail 572 00:25:24,600 --> 00:25:26,919 Speaker 1: in ballot, it's probably too late to actually mail it in, 573 00:25:26,960 --> 00:25:28,479 Speaker 1: so you know, that's something you probably want to do 574 00:25:28,560 --> 00:25:30,640 Speaker 1: in person. But yeah, make sure your voice is heard 575 00:25:30,640 --> 00:25:33,840 Speaker 1: and make sure that you're participating in our democratic process 576 00:25:33,880 --> 00:25:36,400 Speaker 1: in the system of government that we have. I voted 577 00:25:36,440 --> 00:25:38,320 Speaker 1: this morning at State Farm Arena. I see your I 578 00:25:38,320 --> 00:25:41,680 Speaker 1: see your basketball sticker there. That's one downside of voting 579 00:25:41,720 --> 00:25:43,080 Speaker 1: by mail, which is what Kate and I did. We 580 00:25:43,119 --> 00:25:46,040 Speaker 1: didn't get no stinking sticker. So bummed. Yeah, there is 581 00:25:46,080 --> 00:25:47,600 Speaker 1: a bummer of the sticker is pretty cool, so again 582 00:25:47,640 --> 00:25:49,600 Speaker 1: that's gonna be its Listeners can find our show notes 583 00:25:49,680 --> 00:25:51,840 Speaker 1: up on our website at how to money dot com. 584 00:25:52,000 --> 00:25:54,720 Speaker 1: All right, so have a great weekend, Happy Halloween, and 585 00:25:54,720 --> 00:25:57,560 Speaker 1: don't forget to be conscientious with your leaf blowing this weekend. 586 00:25:58,320 --> 00:26:00,800 Speaker 1: All right, Matt, Until next time, Best friends Out, Best 587 00:26:00,880 --> 00:26:01,560 Speaker 1: Friends Out.