1 00:00:00,200 --> 00:00:03,120 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt, 2 00:00:03,320 --> 00:00:06,880 Speaker 1: and today we're discussing earning more on savings, making six 3 00:00:06,920 --> 00:00:10,520 Speaker 1: figures without a college degree, and the worst place to 4 00:00:10,560 --> 00:00:31,760 Speaker 1: buy a car. That's right. I hope folks have made 5 00:00:31,800 --> 00:00:33,199 Speaker 1: it to the end of the weekend that you are 6 00:00:33,280 --> 00:00:37,680 Speaker 1: ready for some new headlines. We are covering personal finance headlines. 7 00:00:37,720 --> 00:00:40,680 Speaker 1: How these stories affect our money? Uh, and Joel, We're 8 00:00:40,680 --> 00:00:42,760 Speaker 1: gonna mention some of the stories that you've just shared, 9 00:00:42,960 --> 00:00:45,040 Speaker 1: as well as several others during this episode. A lot 10 00:00:45,080 --> 00:00:47,600 Speaker 1: of real estate news to cover this week as well. Yeah, 11 00:00:47,760 --> 00:00:49,720 Speaker 1: so a lot of interesting things going on, a lot 12 00:00:49,760 --> 00:00:52,000 Speaker 1: of interesting things that have a direct tie to like 13 00:00:52,080 --> 00:00:53,920 Speaker 1: what you should be doing when it comes to where 14 00:00:53,960 --> 00:00:55,800 Speaker 1: you live, making an offer on a house, whether you 15 00:00:55,840 --> 00:00:57,680 Speaker 1: should rent versus by, all that kind of stuff. We'll 16 00:00:57,680 --> 00:00:59,960 Speaker 1: get to all that today. But before we get to that, Matt, 17 00:01:00,000 --> 00:01:02,240 Speaker 1: I want to let you know, um, just speaking in 18 00:01:02,280 --> 00:01:05,319 Speaker 1: real estate, my my mother in law and father in law, 19 00:01:05,360 --> 00:01:07,440 Speaker 1: they just bought a house down in Florida, little house 20 00:01:07,440 --> 00:01:11,200 Speaker 1: down in Orlando area. Like you do when you get 21 00:01:11,200 --> 00:01:13,280 Speaker 1: to that age, right, Yeah, you're like, oh, Florida's looking nice. 22 00:01:13,600 --> 00:01:15,920 Speaker 1: And uh and so yeah, they were in the process 23 00:01:15,920 --> 00:01:18,760 Speaker 1: of buying this house and it was getting close to 24 00:01:18,840 --> 00:01:22,200 Speaker 1: closing time and he received an email and it was 25 00:01:22,280 --> 00:01:26,880 Speaker 1: like he actually, your wire transfer has changed now you 26 00:01:27,040 --> 00:01:30,160 Speaker 1: need to send money to this account. And um he 27 00:01:30,160 --> 00:01:33,199 Speaker 1: got the email, he was like, oh, okay, that's surprising, 28 00:01:33,280 --> 00:01:35,400 Speaker 1: but maybe, you know, maybe I should wire my money 29 00:01:35,440 --> 00:01:38,399 Speaker 1: over here. But before he did, fortunately, he called the 30 00:01:38,400 --> 00:01:41,760 Speaker 1: closing attorney's office to say, has anything changed, you know, 31 00:01:41,840 --> 00:01:44,280 Speaker 1: with where I should be wiring the funds And they're like, no, 32 00:01:44,959 --> 00:01:48,840 Speaker 1: that's a scam. And so fortunately he saved a huge 33 00:01:49,200 --> 00:01:51,120 Speaker 1: amount of money by not following for that scam. I 34 00:01:51,120 --> 00:01:52,640 Speaker 1: want to let other people know that this is a 35 00:01:52,680 --> 00:01:56,720 Speaker 1: scam that is happening often to people who were closing 36 00:01:56,800 --> 00:01:59,560 Speaker 1: right now. A lot of scamsters are are sending emails 37 00:01:59,600 --> 00:02:01,920 Speaker 1: telling you that the funds need to be wired elsewhere. 38 00:02:02,240 --> 00:02:05,280 Speaker 1: Don't believe that email. Call your closing attorney because people 39 00:02:05,280 --> 00:02:08,800 Speaker 1: are losing tens of thousands, sometimes over a hundred dollars 40 00:02:09,240 --> 00:02:11,800 Speaker 1: dollars when it comes to the funds that they're wiring 41 00:02:11,840 --> 00:02:14,120 Speaker 1: to close. So you gotta pay attention. You've got to 42 00:02:14,160 --> 00:02:15,959 Speaker 1: be careful to avoid this one. Yeah, And one of 43 00:02:16,000 --> 00:02:17,720 Speaker 1: the reasons this is such a big deal too, is 44 00:02:17,720 --> 00:02:20,519 Speaker 1: that once you wire your money to somebody, it's gone. 45 00:02:20,600 --> 00:02:22,239 Speaker 1: It's like you may as well have just handed a 46 00:02:22,280 --> 00:02:25,000 Speaker 1: stranger cash because there is no getting that money back. 47 00:02:25,040 --> 00:02:27,079 Speaker 1: It's I mean, like, shoot, even in the news recently 48 00:02:27,080 --> 00:02:29,200 Speaker 1: we saw a city bank, right exactly they found that out. 49 00:02:29,200 --> 00:02:31,680 Speaker 1: How like was it fifty millions? No, it was like 50 00:02:31,760 --> 00:02:34,520 Speaker 1: it was nine million. I think there was something ridiculous. 51 00:02:34,520 --> 00:02:37,240 Speaker 1: So much money and like you have a bag money 52 00:02:37,280 --> 00:02:39,320 Speaker 1: is gone like they had wired it accidentally. So yeah, 53 00:02:39,320 --> 00:02:41,639 Speaker 1: when it comes to wiring money, in particular, when you're 54 00:02:41,680 --> 00:02:44,040 Speaker 1: looking at the purchase at home, if you get an 55 00:02:44,120 --> 00:02:46,880 Speaker 1: unsolicited email that is asking you to send that money 56 00:02:46,919 --> 00:02:49,400 Speaker 1: somewhere else, don't fall for it. And you know what, 57 00:02:49,639 --> 00:02:52,040 Speaker 1: like it could be true, like maybe that legitimately is 58 00:02:52,480 --> 00:02:54,480 Speaker 1: your closing attorney saying that, like it needs to go 59 00:02:54,480 --> 00:02:56,640 Speaker 1: into this account. But make sure you double check that. 60 00:02:56,840 --> 00:02:58,760 Speaker 1: Definitely double check that for sure. And if you know 61 00:02:58,840 --> 00:03:01,960 Speaker 1: somebody who's closing, especially you know someone who's a little 62 00:03:01,960 --> 00:03:04,200 Speaker 1: bit older who might be more prone to fall for 63 00:03:04,240 --> 00:03:07,120 Speaker 1: the scam, you know it might be helped to proactively 64 00:03:07,200 --> 00:03:08,960 Speaker 1: let them know that this is a scam that's happening, 65 00:03:09,080 --> 00:03:10,639 Speaker 1: because the worst thing in the world is finding out 66 00:03:10,639 --> 00:03:13,160 Speaker 1: that this is a scam after the fact, after your 67 00:03:13,160 --> 00:03:15,320 Speaker 1: money's gone. Dude, not even older folks do. I feel 68 00:03:15,360 --> 00:03:18,239 Speaker 1: like like our generation and like even younger are more 69 00:03:18,360 --> 00:03:20,480 Speaker 1: used to sending money digitally, you know, I mean just 70 00:03:20,480 --> 00:03:22,679 Speaker 1: with Venmo cash app, right, Okay, cool, let me send 71 00:03:22,680 --> 00:03:24,640 Speaker 1: it now then, dude. Seriously, like even with like Robin 72 00:03:24,639 --> 00:03:27,320 Speaker 1: hood and investing, the sort of attitudes that we have 73 00:03:27,400 --> 00:03:30,440 Speaker 1: surrounding money are more fluid and instant and electronic, and 74 00:03:30,440 --> 00:03:32,320 Speaker 1: so it's just like, Okay, we're just gonna do whatever 75 00:03:32,320 --> 00:03:36,280 Speaker 1: it says without questioning popping on the phone and making 76 00:03:36,280 --> 00:03:38,120 Speaker 1: a phone call, you know, like that that almost feels 77 00:03:38,120 --> 00:03:40,320 Speaker 1: a little more old school to uh, you know, go 78 00:03:40,400 --> 00:03:43,320 Speaker 1: through all the hassle of of confirming that my money 79 00:03:43,360 --> 00:03:45,720 Speaker 1: is going to the right place versus just being like, okay, 80 00:03:45,960 --> 00:03:47,560 Speaker 1: getting in touch with the human and you're like, yeah, 81 00:03:47,680 --> 00:03:51,640 Speaker 1: so we can avoid human interaction. It's exactly so, yeah, 82 00:03:51,840 --> 00:03:53,680 Speaker 1: younger generations as well, and make sure we're not falling 83 00:03:53,760 --> 00:03:56,320 Speaker 1: prey to that totally. Alright, Well, Matt, let's move on 84 00:03:56,360 --> 00:03:58,480 Speaker 1: to the Friday flight. The sampling of stories we found 85 00:03:58,520 --> 00:04:02,080 Speaker 1: interesting this week that affect people personal finances. And first 86 00:04:02,120 --> 00:04:04,840 Speaker 1: story up, just a quick public health update. If you 87 00:04:04,840 --> 00:04:07,280 Speaker 1: hadn't already heard, you can go to vaccine finder dot 88 00:04:07,360 --> 00:04:10,520 Speaker 1: org to find vaccine sites near you. This is a 89 00:04:10,560 --> 00:04:13,640 Speaker 1: site run by Boston Children's Hospital, but now it's including 90 00:04:13,720 --> 00:04:16,440 Speaker 1: where you can get COVID vaccine child and I love 91 00:04:16,440 --> 00:04:18,520 Speaker 1: that they have an in stock check mark if that 92 00:04:18,560 --> 00:04:21,599 Speaker 1: particular location has vaccines available. Matt, I looked up our 93 00:04:21,680 --> 00:04:24,040 Speaker 1: zip code and they were like forty something odd locations 94 00:04:24,040 --> 00:04:26,360 Speaker 1: where people get the vaccine. And now you know, we're 95 00:04:26,400 --> 00:04:31,200 Speaker 1: moving into more people being being eligible to get vaccinated. 96 00:04:31,360 --> 00:04:32,839 Speaker 1: So yeah, I go to that site to find out 97 00:04:33,080 --> 00:04:35,880 Speaker 1: where you should be going to get that vaccine. Yep. 98 00:04:36,000 --> 00:04:38,560 Speaker 1: Certainly can be a helpful resource for folks. Uh. And 99 00:04:38,600 --> 00:04:40,800 Speaker 1: you know, another quick tip for folks out there. One 100 00:04:40,800 --> 00:04:43,719 Speaker 1: of my favorite shopping sites shop Goodwill dot com. They 101 00:04:43,760 --> 00:04:47,600 Speaker 1: recently hit one billion dollars in sales. Uh. And so 102 00:04:47,680 --> 00:04:49,839 Speaker 1: if you haven't heard of shop Goodwill dot com, like 103 00:04:49,880 --> 00:04:53,040 Speaker 1: everybody has heard of Goodwill, right uh, and everybody out 104 00:04:53,040 --> 00:04:56,239 Speaker 1: there knows about eBay, Well shop Goodwill dot com. It's 105 00:04:56,240 --> 00:04:58,359 Speaker 1: sort of like this hybrid and you can find some 106 00:04:58,520 --> 00:05:02,520 Speaker 1: really uh gray it's affordable things, likely way better than 107 00:05:02,560 --> 00:05:04,760 Speaker 1: what you would find at your local goodwill. And so, 108 00:05:04,880 --> 00:05:08,000 Speaker 1: you know, if you love buying stuff secondhand for less money, 109 00:05:08,040 --> 00:05:09,880 Speaker 1: be sure to check it out. This actually made me 110 00:05:09,880 --> 00:05:12,159 Speaker 1: think of recently Kate went to our local thrist store 111 00:05:12,640 --> 00:05:15,839 Speaker 1: and she scored basically some brand new boots. Dude, what 112 00:05:15,960 --> 00:05:17,320 Speaker 1: is it made? Well, it's like that really like a 113 00:05:17,320 --> 00:05:19,680 Speaker 1: fancy women's clothing company or whatever. She she found some 114 00:05:19,680 --> 00:05:22,120 Speaker 1: Madewell boots for five dollars. These boots were like virtually 115 00:05:22,160 --> 00:05:24,320 Speaker 1: brand new. And we were talking about last night and 116 00:05:24,360 --> 00:05:26,160 Speaker 1: she was like, you know, I think it has something 117 00:05:26,200 --> 00:05:28,320 Speaker 1: to do with the the changing of seasons as well, 118 00:05:28,360 --> 00:05:30,960 Speaker 1: like and so folks like the seasons are changing, folks 119 00:05:31,000 --> 00:05:33,039 Speaker 1: are looking to maybe clear out their their closets of 120 00:05:33,120 --> 00:05:36,400 Speaker 1: clothes that they don't like anymore, stuff that they've never 121 00:05:36,440 --> 00:05:38,120 Speaker 1: even worn. Like she she had bought another shirt that's 122 00:05:38,120 --> 00:05:40,240 Speaker 1: still had his tags on it. So I think possibly, yeah, 123 00:05:40,279 --> 00:05:42,080 Speaker 1: the changing of seasons might be a good time to 124 00:05:42,160 --> 00:05:45,040 Speaker 1: check out your your local spot if if you particularly 125 00:05:45,080 --> 00:05:48,240 Speaker 1: like the thrill of the chase. Yeah, and if you 126 00:05:48,240 --> 00:05:49,800 Speaker 1: may or may not find something I don't know, shop 127 00:05:49,880 --> 00:05:53,039 Speaker 1: goodwill provides the online thrill of the chase. Yeah yeah, uh, 128 00:05:53,279 --> 00:05:56,560 Speaker 1: next doory up, Matt. College enrollment is falling because of COVID, 129 00:05:56,760 --> 00:06:00,200 Speaker 1: some new numbers out and and freshman enrollment plunged at 130 00:06:00,240 --> 00:06:02,680 Speaker 1: last fall, which of course makes total sense, right right, 131 00:06:02,720 --> 00:06:05,040 Speaker 1: of course, a lot of people foregoing school for the 132 00:06:05,040 --> 00:06:07,279 Speaker 1: time being. It was a perfect time to take a 133 00:06:07,320 --> 00:06:11,200 Speaker 1: gap here. And things also too likely won't be back 134 00:06:11,200 --> 00:06:14,040 Speaker 1: to the normal this fall, So taking a gap year 135 00:06:14,160 --> 00:06:16,200 Speaker 1: might make sense for a lot of high school seniors 136 00:06:16,200 --> 00:06:18,880 Speaker 1: this year too. If the benefit the cost ratio just 137 00:06:19,000 --> 00:06:21,200 Speaker 1: isn't there for you, for your high school senior, for 138 00:06:21,240 --> 00:06:23,880 Speaker 1: your family, maybe it's time to reassess whether they should 139 00:06:23,920 --> 00:06:26,840 Speaker 1: be attending school this fall or not. And we're actually 140 00:06:27,040 --> 00:06:28,880 Speaker 1: looking forward to we're gonna have Ron Lieber on the 141 00:06:28,920 --> 00:06:31,520 Speaker 1: podcast soon, Matt from the New York Times. Uh, and 142 00:06:31,640 --> 00:06:34,400 Speaker 1: he is gonna talk about the college cost dynamics in 143 00:06:34,520 --> 00:06:36,960 Speaker 1: a whole lot of detail. And you're really looking forward 144 00:06:36,960 --> 00:06:39,039 Speaker 1: to that conversation. I think it's gonna be helpful for 145 00:06:39,040 --> 00:06:41,240 Speaker 1: anybody who's trying to consider, you know, should I go 146 00:06:41,279 --> 00:06:43,279 Speaker 1: back to school? Like should where should my kid be 147 00:06:43,279 --> 00:06:45,320 Speaker 1: going to college? Um, we're gonna answer a lot of 148 00:06:45,400 --> 00:06:47,200 Speaker 1: questions in that conversation. Oh yeah, that's gonna be a 149 00:06:47,240 --> 00:06:49,760 Speaker 1: good one. And you know, speaking of college in scams 150 00:06:49,800 --> 00:06:52,960 Speaker 1: as well, watch out for this student loan forgiveness scam 151 00:06:52,960 --> 00:06:56,280 Speaker 1: that's going around right now. The Washington Post detailed the 152 00:06:56,400 --> 00:06:59,440 Speaker 1: rise of a scam phone call where a stranger calls 153 00:06:59,440 --> 00:07:03,040 Speaker 1: and they tell you that you're eligible for student loan forgiveness. Yeah, 154 00:07:03,120 --> 00:07:05,240 Speaker 1: but it'll cost you, right, And that's your red flag. 155 00:07:05,520 --> 00:07:08,160 Speaker 1: And so while student loan forgiveness is something that our 156 00:07:08,279 --> 00:07:11,920 Speaker 1: elected officials are considering, there hasn't been any real progress 157 00:07:12,000 --> 00:07:14,520 Speaker 1: in that regard. And even if a student loan forgiveness 158 00:07:14,720 --> 00:07:17,040 Speaker 1: bill does pass, no one is going to call you 159 00:07:17,080 --> 00:07:19,559 Speaker 1: to ask for money in order to get that uh, 160 00:07:19,600 --> 00:07:22,080 Speaker 1: that forgiveness you know option that you might you might have. 161 00:07:22,200 --> 00:07:26,080 Speaker 1: So don't answer phone calls from numbers you don't you know, recognize, uh. 162 00:07:26,080 --> 00:07:27,560 Speaker 1: And if you do pick it up and you hear 163 00:07:27,560 --> 00:07:30,760 Speaker 1: this pitch, that's when it's time to hang up the call. Yeah, 164 00:07:30,840 --> 00:07:33,040 Speaker 1: a lot of scams happening right now these days. And 165 00:07:33,480 --> 00:07:34,800 Speaker 1: by the way, too, if you do get this pitch, 166 00:07:35,160 --> 00:07:37,640 Speaker 1: you can be part of making sure that these scammers 167 00:07:37,640 --> 00:07:40,320 Speaker 1: get shut down. Right, the more complaints that the different 168 00:07:40,360 --> 00:07:45,040 Speaker 1: watchdog agencies receive about a particular scam, the more ammunition 169 00:07:45,080 --> 00:07:47,080 Speaker 1: they have to take these people down that are running it. 170 00:07:47,280 --> 00:07:50,600 Speaker 1: So report this scam to your Federal Student Loan Service, 171 00:07:50,720 --> 00:07:54,120 Speaker 1: or to the FTC, to the CFPB, reported everywhere, right, 172 00:07:54,240 --> 00:07:57,720 Speaker 1: and even to your state's Attorney general's office. Hanging up 173 00:07:57,800 --> 00:07:59,600 Speaker 1: is the first good move, and then you know, reporting 174 00:07:59,600 --> 00:08:02,240 Speaker 1: it for that is is the next best move. All right, 175 00:08:02,280 --> 00:08:04,640 Speaker 1: let's talk about jobs, buddy. Uh. There have been some 176 00:08:04,760 --> 00:08:08,200 Speaker 1: interesting stories lately about folks without a college degree being 177 00:08:08,240 --> 00:08:13,000 Speaker 1: able to find higher paying jobs. There is, in essence, 178 00:08:13,040 --> 00:08:16,240 Speaker 1: a blue collar jobs boom happening right now. The Wall 179 00:08:16,240 --> 00:08:19,000 Speaker 1: Street Journal reports that pay is going up quickly in 180 00:08:19,040 --> 00:08:21,520 Speaker 1: the blue collar space because there aren't enough workers out 181 00:08:21,520 --> 00:08:23,600 Speaker 1: there to fill these jobs that exist. So if you're 182 00:08:23,640 --> 00:08:25,920 Speaker 1: looking for work right now, you can look to warehouse 183 00:08:25,920 --> 00:08:29,600 Speaker 1: work or residential building work because those fields specifically are 184 00:08:29,640 --> 00:08:32,360 Speaker 1: in desperate need right now. Yeah. And one other option, 185 00:08:32,480 --> 00:08:35,360 Speaker 1: Matt for people is to become a whole food store manager. Yeah, 186 00:08:35,360 --> 00:08:38,200 Speaker 1: if you're looking to make those six figures. Yeah. CEO 187 00:08:38,360 --> 00:08:41,280 Speaker 1: John Mackie was quoted, you know, recently as saying that 188 00:08:41,360 --> 00:08:43,800 Speaker 1: you can make a hundred thousand dollars a year there, 189 00:08:43,880 --> 00:08:47,199 Speaker 1: more than which if if you become if you rise 190 00:08:47,240 --> 00:08:49,480 Speaker 1: to the level of store manager. So I mean, I 191 00:08:49,520 --> 00:08:51,520 Speaker 1: had a friend Matt, who became a store manager at 192 00:08:51,559 --> 00:08:54,920 Speaker 1: at Starbucks, and he was making really good money as 193 00:08:54,960 --> 00:08:57,920 Speaker 1: a store manager there. So plus they had some awesome benefits. 194 00:08:57,960 --> 00:09:00,360 Speaker 1: I know, they had an amazing company match as well 195 00:09:00,360 --> 00:09:02,760 Speaker 1: that he may or may not have been taking advantage of. 196 00:09:03,679 --> 00:09:06,160 Speaker 1: Plus that free education I mean, which he also wasn't 197 00:09:06,160 --> 00:09:08,719 Speaker 1: taking advantage of. But the benefits are are solid there. 198 00:09:08,800 --> 00:09:10,560 Speaker 1: And we're not gonna mention needed names, but you know 199 00:09:10,559 --> 00:09:14,440 Speaker 1: who you are. But but yeah, I saw that article, 200 00:09:14,559 --> 00:09:17,200 Speaker 1: saw that the Whole Foods was paying that much for 201 00:09:17,240 --> 00:09:19,400 Speaker 1: store managers, and that just made me realize, man, that 202 00:09:19,440 --> 00:09:21,440 Speaker 1: there are some jobs out there for folks who don't 203 00:09:21,520 --> 00:09:23,640 Speaker 1: have a college education. And you know, while I think 204 00:09:23,640 --> 00:09:26,480 Speaker 1: a college education is still incredibly helpful for a lot 205 00:09:26,480 --> 00:09:28,360 Speaker 1: of people to find a job with top tier pay, 206 00:09:28,559 --> 00:09:31,280 Speaker 1: it just goes to show that it's not always necessary. 207 00:09:31,520 --> 00:09:35,120 Speaker 1: If you're intentional foregoing college in order to pursue the 208 00:09:35,120 --> 00:09:37,240 Speaker 1: blue collar route, you know, it might even pay off 209 00:09:37,240 --> 00:09:39,240 Speaker 1: in a bigger way for you. As the cost of 210 00:09:39,280 --> 00:09:42,480 Speaker 1: college rises and blue collar professions need more folks right 211 00:09:42,520 --> 00:09:44,440 Speaker 1: as there are you know, more of these blue collar 212 00:09:44,559 --> 00:09:47,760 Speaker 1: workers retiring, they need fresh people to to fill those roles, 213 00:09:47,840 --> 00:09:50,559 Speaker 1: and there's not enough already. So you know, we we 214 00:09:50,640 --> 00:09:53,280 Speaker 1: even spent an entire episode talking about blue collar jobs 215 00:09:53,280 --> 00:09:56,000 Speaker 1: with Ken Rusk. That was episode to seventies seven. So 216 00:09:56,280 --> 00:09:57,920 Speaker 1: if you heard that and you're like, oh, wait, I 217 00:09:57,960 --> 00:10:00,440 Speaker 1: can actually get paid a decent amoun money and I 218 00:10:00,440 --> 00:10:02,839 Speaker 1: can start to work with my hands, That's something I'm 219 00:10:02,840 --> 00:10:04,640 Speaker 1: interested in a lot, we'd encourage you to go back 220 00:10:04,640 --> 00:10:06,840 Speaker 1: and listen to that episode. Um can had a lot 221 00:10:06,880 --> 00:10:08,640 Speaker 1: of good advice for people who are trying to pivot 222 00:10:08,679 --> 00:10:10,680 Speaker 1: in that way. Yeah, and that was just such a 223 00:10:10,679 --> 00:10:13,720 Speaker 1: great conversation too, about just kind of removing the stigma. 224 00:10:13,720 --> 00:10:15,319 Speaker 1: I mean, that's that's one of the things we talked about. 225 00:10:15,320 --> 00:10:17,199 Speaker 1: Like a lot of times blue collar work, you know, 226 00:10:17,240 --> 00:10:19,840 Speaker 1: working with your hands is seen as less than than 227 00:10:19,880 --> 00:10:22,600 Speaker 1: white collar work. But Ken just has such a great 228 00:10:22,640 --> 00:10:26,199 Speaker 1: perspective on it as a blue collar worker himself essentially, uh, 229 00:10:26,240 --> 00:10:28,880 Speaker 1: you know, throughout the decades of working with his hands. 230 00:10:29,000 --> 00:10:30,920 Speaker 1: That was just such a great conversation. Yeah, we would 231 00:10:30,920 --> 00:10:32,800 Speaker 1: recommend for folks to check that one out. Uh do 232 00:10:32,960 --> 00:10:35,880 Speaker 1: Let's talk about privacy. There is some news as it 233 00:10:35,920 --> 00:10:39,480 Speaker 1: pertains to the ads that we see when we're online. 234 00:10:39,920 --> 00:10:42,040 Speaker 1: The way that Google tracks you and the way that 235 00:10:42,080 --> 00:10:43,920 Speaker 1: they serve ads to you is going to be changing. 236 00:10:44,200 --> 00:10:47,560 Speaker 1: On Wednesday, they announced that starting next year, that they're 237 00:10:47,559 --> 00:10:51,560 Speaker 1: gonna plan to stop using or investing in tracking technologies 238 00:10:51,559 --> 00:10:54,800 Speaker 1: that uniquely identify web users as they move from site 239 00:10:54,840 --> 00:10:57,640 Speaker 1: to site across the Internet. So now you might be thinking, sweet, 240 00:10:57,880 --> 00:11:00,360 Speaker 1: no more ads on the internet. Oh no, that's it happened, 241 00:11:00,360 --> 00:11:02,880 Speaker 1: And yeah, that's that is not how it works. Google 242 00:11:02,920 --> 00:11:05,679 Speaker 1: will still feed you ads based on your browsing if 243 00:11:05,679 --> 00:11:08,840 Speaker 1: you're using a Google site like YouTube or Google Search 244 00:11:09,120 --> 00:11:12,720 Speaker 1: and so this is called what they call first party data. Uh, 245 00:11:12,760 --> 00:11:15,199 Speaker 1: they're still gonna use that information. It's just that they're 246 00:11:15,240 --> 00:11:18,520 Speaker 1: not going to be using information from other sites what 247 00:11:18,600 --> 00:11:21,160 Speaker 1: they call third party sites. Yeah. So basically, Matt, like, 248 00:11:21,320 --> 00:11:23,160 Speaker 1: you really still have to be alert and vigilant when 249 00:11:23,160 --> 00:11:25,439 Speaker 1: it comes to that perfect ad to pops up while 250 00:11:25,440 --> 00:11:27,800 Speaker 1: you're browsing and resist the urge to click and buy. Right, 251 00:11:27,920 --> 00:11:29,640 Speaker 1: that's true. Well, I was gonna say to one of 252 00:11:29,679 --> 00:11:32,680 Speaker 1: the specific ways I've used for years to eliminate ads 253 00:11:32,760 --> 00:11:35,200 Speaker 1: you know while I'm on the computer is called reader view. 254 00:11:35,320 --> 00:11:37,480 Speaker 1: And so if you've never tried it before on a 255 00:11:37,559 --> 00:11:41,320 Speaker 1: Mac in Safari, you can just hit shift command are 256 00:11:42,000 --> 00:11:44,079 Speaker 1: and so say, if you're reading an article, all the 257 00:11:44,120 --> 00:11:47,160 Speaker 1: pop up ads, the sidebar ads, and countless other distracting 258 00:11:47,200 --> 00:11:51,000 Speaker 1: things will just disappear. It's amazing. You can turn it 259 00:11:51,040 --> 00:11:53,319 Speaker 1: off by hitting the same keys, or you can actually 260 00:11:53,320 --> 00:11:55,920 Speaker 1: click there's a little document icon up at the top, 261 00:11:56,520 --> 00:11:58,079 Speaker 1: like right next to the U R L. But I 262 00:11:58,080 --> 00:12:00,520 Speaker 1: would highly recommend that, like it is fanta ascid if 263 00:12:00,640 --> 00:12:02,640 Speaker 1: in particular, if you're sitting down and like reading a 264 00:12:02,679 --> 00:12:05,599 Speaker 1: long form article or something like that. Uh, it's it 265 00:12:05,880 --> 00:12:08,440 Speaker 1: just brings me so much peace. Like what like, I 266 00:12:08,440 --> 00:12:10,840 Speaker 1: I use that key stroke and all the crap just 267 00:12:10,920 --> 00:12:13,880 Speaker 1: like disappears and melts away. Yeah, I didn't even know 268 00:12:13,920 --> 00:12:15,720 Speaker 1: that this was a good a thing. And then you know, 269 00:12:15,760 --> 00:12:18,680 Speaker 1: you told me today And so I use Chrome, and 270 00:12:18,920 --> 00:12:21,800 Speaker 1: uh I found out that Google has something buried. There's 271 00:12:21,800 --> 00:12:24,000 Speaker 1: a way to get reader view on the Chrome browser 272 00:12:24,040 --> 00:12:25,959 Speaker 1: as well, And so we'll put a link to how 273 00:12:26,000 --> 00:12:28,480 Speaker 1: you can do that in the show notes. Because yeah, 274 00:12:28,480 --> 00:12:30,120 Speaker 1: it's nice to be able to do at the you know, 275 00:12:30,280 --> 00:12:32,880 Speaker 1: a swift click people to eliminate those ads, um to 276 00:12:33,120 --> 00:12:35,800 Speaker 1: prevent you from the distractions while you're trying to read 277 00:12:35,840 --> 00:12:38,559 Speaker 1: some articles on the internet. Yeah, keep you from spending 278 00:12:38,600 --> 00:12:40,480 Speaker 1: your money that you don't really want to spend. It's 279 00:12:40,520 --> 00:12:43,600 Speaker 1: just that, like you're enticed, allows me to focus, well 280 00:12:44,000 --> 00:12:45,800 Speaker 1: stuff like that's honestly why I do it. Like I'm 281 00:12:45,880 --> 00:12:48,360 Speaker 1: very easily distracted. So yeah, like I have to isolate 282 00:12:48,400 --> 00:12:51,000 Speaker 1: all the other stimuli that present themselves to me. Yeah, 283 00:12:51,000 --> 00:12:53,400 Speaker 1: I feel like I'm I'm reading you know, internet stories 284 00:12:53,440 --> 00:12:55,280 Speaker 1: for far too much time out of the day, like 285 00:12:55,559 --> 00:12:57,960 Speaker 1: largely for work here. That's what we do and so, 286 00:12:58,280 --> 00:13:00,960 Speaker 1: um yeah, that's how we put together episode every week, 287 00:13:01,000 --> 00:13:04,400 Speaker 1: Friday flight episodes especially, yes exactly, but um yeah, so 288 00:13:04,480 --> 00:13:07,640 Speaker 1: we've got more stories to get to more timely personal 289 00:13:07,720 --> 00:13:10,840 Speaker 1: finance information that you need to know, including the ludicrous 290 00:13:10,880 --> 00:13:13,360 Speaker 1: headline of the week. That's right, that's about the worst 291 00:13:13,360 --> 00:13:14,920 Speaker 1: place to buy a car. We'll get to that right 292 00:13:14,960 --> 00:13:26,200 Speaker 1: after this break. All right, we are back and it 293 00:13:26,320 --> 00:13:28,800 Speaker 1: is time now for our ludicrous headline of the week, 294 00:13:28,880 --> 00:13:32,160 Speaker 1: which is used cars. When does an eight thousand dollar 295 00:13:32,240 --> 00:13:36,680 Speaker 1: vehicle coste, which is it sounds pretty terrible, right, And 296 00:13:36,720 --> 00:13:39,080 Speaker 1: so this one is actually from Car and Driver. Uh, 297 00:13:39,120 --> 00:13:41,680 Speaker 1: and this was an excellent profile of by here, Pay 298 00:13:41,720 --> 00:13:45,280 Speaker 1: here car lots. Millions of people buy cars at these 299 00:13:45,280 --> 00:13:48,280 Speaker 1: lots every year, and these lots pray specifically on folks 300 00:13:48,360 --> 00:13:51,040 Speaker 1: with super low credit scores. And so not only are 301 00:13:51,040 --> 00:13:53,959 Speaker 1: folks finding a car to buy at one of these lots, 302 00:13:54,000 --> 00:13:57,280 Speaker 1: but they're getting their financing there too, which is bad news, 303 00:13:57,920 --> 00:14:03,200 Speaker 1: often in the twenty range. Yeah. And so because of this, 304 00:14:03,280 --> 00:14:06,120 Speaker 1: you know, exorbitant interest rate and the poor quality of 305 00:14:06,200 --> 00:14:09,320 Speaker 1: many of the vehicles, four out of ten buy here, 306 00:14:09,360 --> 00:14:12,880 Speaker 1: Pay here customers defaulted on their loans last year and 307 00:14:12,920 --> 00:14:15,240 Speaker 1: so and obviously you know, this puts them in an 308 00:14:15,240 --> 00:14:17,640 Speaker 1: even more precarious spot than they than they were even 309 00:14:17,640 --> 00:14:20,400 Speaker 1: before they had purchased that car. Yeah. And the advertisements 310 00:14:20,440 --> 00:14:21,840 Speaker 1: that you see for those by here, pay you here 311 00:14:21,880 --> 00:14:23,840 Speaker 1: lots are like, we can help you out, We got 312 00:14:23,840 --> 00:14:25,840 Speaker 1: your back. We can get you in a car you know, 313 00:14:25,880 --> 00:14:28,720 Speaker 1: win no credit, no problem. Yeah, nobody else can. And 314 00:14:28,840 --> 00:14:31,200 Speaker 1: that turns out, um, they'll get you in a car, 315 00:14:31,320 --> 00:14:33,840 Speaker 1: it's it's gonna cost you. And yeah, Car and Driver 316 00:14:33,960 --> 00:14:36,640 Speaker 1: ran the math. A typical Chevy Cruise with a hundred 317 00:14:36,680 --> 00:14:39,760 Speaker 1: five thousand miles on it should cost about eight thousand dollars, 318 00:14:39,800 --> 00:14:42,240 Speaker 1: maybe a bit less, maybe even seven. But by here, 319 00:14:42,280 --> 00:14:44,800 Speaker 1: pay here lots charge a whole lot more for that vehicle. 320 00:14:44,960 --> 00:14:48,120 Speaker 1: They charge higher fees, and the interest paid isn't even 321 00:14:48,160 --> 00:14:51,080 Speaker 1: close to that of what a conventional dealer would offer you. 322 00:14:51,280 --> 00:14:53,760 Speaker 1: We're talking almost six thousand dollars in interest over the 323 00:14:53,800 --> 00:14:55,880 Speaker 1: life of the loan instead of you know, roughly only 324 00:14:55,920 --> 00:14:58,360 Speaker 1: seven dollars in interest if you got it through a 325 00:14:58,360 --> 00:15:00,560 Speaker 1: conventional dealer, and even less of cour if you got 326 00:15:00,600 --> 00:15:03,440 Speaker 1: it at a credit union. So yeah, the worst place 327 00:15:03,440 --> 00:15:05,240 Speaker 1: to buy a car Buy here, pay here lots like 328 00:15:05,400 --> 00:15:09,480 Speaker 1: hands easily. Yeah, definitely. Basically those places suck. They allow 329 00:15:09,480 --> 00:15:11,320 Speaker 1: you to put down very little money and still drive 330 00:15:11,320 --> 00:15:14,080 Speaker 1: away with a car. Today, you know, I feel like 331 00:15:14,080 --> 00:15:15,920 Speaker 1: I can just hear the ads on TV like it's 332 00:15:15,920 --> 00:15:18,320 Speaker 1: been forever since I've you know, since we've watched TV. 333 00:15:18,480 --> 00:15:21,000 Speaker 1: I mean literally, I feel like it's been since like college. Yeah, 334 00:15:21,040 --> 00:15:22,680 Speaker 1: that's it's like set down and like had the TV 335 00:15:22,800 --> 00:15:24,560 Speaker 1: on where you would hear local commercials. But like, at 336 00:15:24,600 --> 00:15:26,120 Speaker 1: least in my mind, that it's like burned into my 337 00:15:26,120 --> 00:15:27,720 Speaker 1: psyche a little bit. I feel like if my friend 338 00:15:27,760 --> 00:15:28,920 Speaker 1: was like, I think I want to go buy buy 339 00:15:28,960 --> 00:15:30,440 Speaker 1: a car down here, I'd be like, ah, you might 340 00:15:30,480 --> 00:15:34,280 Speaker 1: want to keep riding your bike or like to, because 341 00:15:34,320 --> 00:15:36,520 Speaker 1: that's how bad these lots are. That's how much I 342 00:15:36,600 --> 00:15:38,880 Speaker 1: take advantage of you. And you know you're buying a 343 00:15:38,960 --> 00:15:41,760 Speaker 1: car at just a highly inflated price all the other 344 00:15:41,800 --> 00:15:43,600 Speaker 1: stuff that goes along with it, and you know, with 345 00:15:44,280 --> 00:15:47,480 Speaker 1: people default thing, that is a bad sign. Yeah, seriously bad. Uh. 346 00:15:47,560 --> 00:15:49,600 Speaker 1: Let's keep moving. Do the talk about how you can 347 00:15:49,640 --> 00:15:53,360 Speaker 1: earn more uh in your Pitalie savings account. You know, 348 00:15:53,440 --> 00:15:55,880 Speaker 1: we all are wishing that we were earning more interest. 349 00:15:56,200 --> 00:15:57,800 Speaker 1: And you know, while you should switch to an online 350 00:15:57,840 --> 00:16:00,280 Speaker 1: savings account to earn more than what you're currently earning, 351 00:16:00,280 --> 00:16:02,240 Speaker 1: if if you haven't done so yet, there is one 352 00:16:02,280 --> 00:16:05,280 Speaker 1: way you can legitimately earn more interest on your savings 353 00:16:05,480 --> 00:16:09,400 Speaker 1: and that is by grabbing Series I savings bonds. UH. 354 00:16:09,400 --> 00:16:11,640 Speaker 1: This isn't something we talk about often, but you know, 355 00:16:11,680 --> 00:16:13,360 Speaker 1: we do get a lot of questions from listeners who 356 00:16:13,360 --> 00:16:17,440 Speaker 1: are frustrated by the low returns on savings UH, and 357 00:16:17,480 --> 00:16:20,280 Speaker 1: they think that investing their savings is the answer. But 358 00:16:20,400 --> 00:16:22,320 Speaker 1: you know that comes with some risk, you know, and 359 00:16:22,360 --> 00:16:25,040 Speaker 1: if you might need that money in the next few years, 360 00:16:25,120 --> 00:16:27,600 Speaker 1: it's a bad idea. But you can buy Series I 361 00:16:27,760 --> 00:16:30,840 Speaker 1: savings bonds through the Treasury Department directly and get a 362 00:16:30,880 --> 00:16:33,760 Speaker 1: return of more than one percent. Specifically, right now, you 363 00:16:33,760 --> 00:16:36,160 Speaker 1: can get a return of one point six eight percent, 364 00:16:36,480 --> 00:16:38,640 Speaker 1: which is pretty great. Yeah, that sounds a whole lot 365 00:16:38,680 --> 00:16:41,400 Speaker 1: better than what you know, your your savings account is 366 00:16:41,680 --> 00:16:43,960 Speaker 1: getting you at whatever bank you're at, exactly. And that's 367 00:16:44,000 --> 00:16:46,720 Speaker 1: because I bonds are guaranteed to keep up with inflation, 368 00:16:47,000 --> 00:16:49,080 Speaker 1: which is why the rate is so good. Right, And 369 00:16:49,120 --> 00:16:51,360 Speaker 1: there's no real risk either, as they're backed up by 370 00:16:51,480 --> 00:16:55,160 Speaker 1: the US government. But there are some townsides, right, it's 371 00:16:55,160 --> 00:16:57,120 Speaker 1: not all good. It's not all rainbows and kittens, and 372 00:16:57,280 --> 00:17:01,560 Speaker 1: but it is mostly it is mostly. Uh here, here's 373 00:17:01,560 --> 00:17:03,440 Speaker 1: the downside. You do have to hold an I bond 374 00:17:03,520 --> 00:17:05,840 Speaker 1: for twelve months before you can redeem it. Yeah, which 375 00:17:05,960 --> 00:17:07,960 Speaker 1: so basically what you're saying is like your your money 376 00:17:08,000 --> 00:17:09,920 Speaker 1: will be tied up, like you cannot take that money 377 00:17:09,960 --> 00:17:12,240 Speaker 1: out for twelve months. And this is why we wouldn't 378 00:17:12,280 --> 00:17:15,320 Speaker 1: necessarily recommend it for an emergency fund, because like typically 379 00:17:15,400 --> 00:17:17,600 Speaker 1: for your emergency fund, like you want to have that 380 00:17:17,640 --> 00:17:19,920 Speaker 1: cash liquid and you want to be able to access 381 00:17:19,920 --> 00:17:23,120 Speaker 1: it immediately if in case there is an emergency. If not, 382 00:17:23,320 --> 00:17:25,320 Speaker 1: then it's not really an emergency fund, is it. It's 383 00:17:25,359 --> 00:17:27,320 Speaker 1: just it's kind of like a I don't know, like 384 00:17:27,359 --> 00:17:29,119 Speaker 1: a long term savings like you locked it away in 385 00:17:29,119 --> 00:17:30,800 Speaker 1: a vault and you can't touch it for a year. 386 00:17:31,080 --> 00:17:32,760 Speaker 1: But you know, for a lot of people who do 387 00:17:32,800 --> 00:17:35,280 Speaker 1: want to put a portion of their savings somewhere where 388 00:17:35,280 --> 00:17:37,280 Speaker 1: they can earn a higher rate, this is probably the 389 00:17:37,280 --> 00:17:39,440 Speaker 1: best place for you to consider right now. So I 390 00:17:39,560 --> 00:17:43,200 Speaker 1: bonds are worth looking into, um and all. Another potential 391 00:17:43,200 --> 00:17:46,399 Speaker 1: downside is if you need your money, you know, any 392 00:17:46,400 --> 00:17:48,720 Speaker 1: time between one year and five years, you will lose 393 00:17:48,720 --> 00:17:50,960 Speaker 1: out on three months of interest if you redeem your 394 00:17:50,960 --> 00:17:53,600 Speaker 1: I bonds in that period of time. But yeah, after 395 00:17:53,640 --> 00:17:55,119 Speaker 1: that five year mark, you're good to go and you 396 00:17:55,119 --> 00:17:57,440 Speaker 1: get to keep all the interest you accrued. It's also 397 00:17:57,480 --> 00:17:59,119 Speaker 1: good to know that individuals can buy up to ten 398 00:17:59,160 --> 00:18:01,720 Speaker 1: thousand dollars each year in I bonds, So yeah, it 399 00:18:01,800 --> 00:18:04,760 Speaker 1: might be the perfect place to stash some of your savings, 400 00:18:04,800 --> 00:18:06,600 Speaker 1: but just make sure you keep some of it liquid 401 00:18:06,800 --> 00:18:09,000 Speaker 1: completely liquid as well. Yeah, and we'll make sure to 402 00:18:09,119 --> 00:18:11,440 Speaker 1: link to the website where you can buy those directly 403 00:18:11,480 --> 00:18:14,560 Speaker 1: from the Treasury. Actually I think it's Treasury direct dot gov, 404 00:18:14,840 --> 00:18:16,480 Speaker 1: but we'll make sure to link to that in our 405 00:18:16,480 --> 00:18:20,280 Speaker 1: show notes. All right, time to talk about some real estates. Uh, specifically, 406 00:18:20,320 --> 00:18:23,359 Speaker 1: we wanted to start this discussion with real estate commissions. 407 00:18:23,720 --> 00:18:26,639 Speaker 1: We feel, Jill, that they're a little high, right, you 408 00:18:26,640 --> 00:18:29,480 Speaker 1: know they are. I mean, it's that's not that agents 409 00:18:29,480 --> 00:18:32,600 Speaker 1: don't deserve to make money, like they definitely do. We are. 410 00:18:32,720 --> 00:18:35,280 Speaker 1: We're big fans of using a real estate agent for 411 00:18:35,440 --> 00:18:41,200 Speaker 1: housing transactions. But the National Association of Realtors, Man, dude, 412 00:18:41,240 --> 00:18:45,440 Speaker 1: they just released numbers and of people start shopping online 413 00:18:45,720 --> 00:18:48,280 Speaker 1: before they even hire a real estate agent. What we're 414 00:18:48,280 --> 00:18:50,159 Speaker 1: realizing and what we're seeing, I mean, we we knew this, 415 00:18:50,320 --> 00:18:52,439 Speaker 1: but like we're starting to see that the internet has 416 00:18:52,480 --> 00:18:55,520 Speaker 1: completely changed the home buying process, right. Uh. And so 417 00:18:55,560 --> 00:18:57,760 Speaker 1: while having a realtor on your side is is still wise, 418 00:18:57,800 --> 00:18:59,520 Speaker 1: it's still a good thing to do. We think that 419 00:18:59,600 --> 00:19:02,280 Speaker 1: the way that agents are going to be getting paid 420 00:19:02,320 --> 00:19:04,600 Speaker 1: in the future kind of moving forward, that that is 421 00:19:04,640 --> 00:19:06,879 Speaker 1: going to change. Yeah, it's already changing in other countries, 422 00:19:06,920 --> 00:19:08,119 Speaker 1: and we're going to see it change here in the 423 00:19:08,200 --> 00:19:10,879 Speaker 1: United States as well, I think, And we're already starting 424 00:19:10,880 --> 00:19:13,639 Speaker 1: to see that change right Redfin is now publishing the 425 00:19:13,640 --> 00:19:17,440 Speaker 1: commissions that agents make on their website. They're making it transparent, 426 00:19:17,480 --> 00:19:20,360 Speaker 1: which is awesome. And Redfin isn't available everywhere, but it's 427 00:19:20,400 --> 00:19:22,240 Speaker 1: a site kind of like Zilo right where you can 428 00:19:22,520 --> 00:19:24,960 Speaker 1: peruse homes and find an agent when you are ready 429 00:19:25,000 --> 00:19:26,920 Speaker 1: to go look or make an offer. And they've done 430 00:19:26,960 --> 00:19:29,320 Speaker 1: a great job in lowering fees for folks who list 431 00:19:29,359 --> 00:19:32,840 Speaker 1: their home on there. In Redfin CEO Glenn Kelman said, 432 00:19:33,080 --> 00:19:36,119 Speaker 1: homebuyers will finally see how much money their agent stands 433 00:19:36,160 --> 00:19:38,879 Speaker 1: to earn on any home for sale, letting them evaluate 434 00:19:38,920 --> 00:19:42,000 Speaker 1: whether they're getting good value for their money. And again, Matt, 435 00:19:42,040 --> 00:19:43,960 Speaker 1: you and I were all about using real estate agents, 436 00:19:44,080 --> 00:19:47,040 Speaker 1: and we're all about them being able to make a living. 437 00:19:47,280 --> 00:19:50,240 Speaker 1: But the current three percent commission for each agent model 438 00:19:50,720 --> 00:19:52,639 Speaker 1: is a model that isn't along for this world, and 439 00:19:52,640 --> 00:19:55,119 Speaker 1: I'm glad that it's being shaken up with websites and 440 00:19:55,200 --> 00:19:57,679 Speaker 1: companies like Redfin, and I think we're gonna continue to 441 00:19:57,680 --> 00:20:00,359 Speaker 1: see more of that and for home buyers and home sellers, 442 00:20:00,359 --> 00:20:02,280 Speaker 1: I think sometimes it might be worth it to have 443 00:20:02,400 --> 00:20:06,399 Speaker 1: a conversation with your agent about how they're compensated. Oftentimes, 444 00:20:06,440 --> 00:20:08,959 Speaker 1: you know, those commission numbers are hidden a little bit. 445 00:20:09,000 --> 00:20:11,200 Speaker 1: And again that's why I like, at least a transparency 446 00:20:11,200 --> 00:20:12,960 Speaker 1: that Red finished putting out the we're gonna publish how 447 00:20:13,040 --> 00:20:15,199 Speaker 1: much your agent is going to make. I feel like 448 00:20:15,320 --> 00:20:17,800 Speaker 1: that's what we need more in the real estate process, 449 00:20:17,800 --> 00:20:20,439 Speaker 1: a little more transparency all around. Yeah, it makes me 450 00:20:20,480 --> 00:20:22,560 Speaker 1: think back to the very first house we purchased. It 451 00:20:22,720 --> 00:20:24,280 Speaker 1: dawned on us, like in the middle of searching for 452 00:20:24,320 --> 00:20:25,879 Speaker 1: a home that like, wait a minute, how do you 453 00:20:25,920 --> 00:20:29,919 Speaker 1: how do you get paid? And we had a perfectly legitimate, honest, 454 00:20:30,040 --> 00:20:33,119 Speaker 1: awesome realtor, but it took us asking because it's not 455 00:20:33,200 --> 00:20:36,159 Speaker 1: normally something that they talk about. Uh. And so we 456 00:20:36,400 --> 00:20:38,000 Speaker 1: talked about it and I was like, oh, okay, Like, 457 00:20:38,240 --> 00:20:41,080 Speaker 1: so I'm not paying for that in the end, that's 458 00:20:41,080 --> 00:20:42,600 Speaker 1: what it came down to you, right, So as the buyer, 459 00:20:42,640 --> 00:20:44,919 Speaker 1: typically that's not something that you have to pay for. 460 00:20:44,960 --> 00:20:47,200 Speaker 1: Its typically on the seller. But I feel like that's 461 00:20:47,240 --> 00:20:49,480 Speaker 1: just a small illustration of kind of how you know, 462 00:20:49,560 --> 00:20:52,400 Speaker 1: those fees are hidden a little bit in the entire process. Uh. 463 00:20:52,440 --> 00:20:55,560 Speaker 1: And so continuing you know this real estate theme, Zillo. 464 00:20:55,600 --> 00:20:59,040 Speaker 1: Everybody knows Zillo. They will now make cash offers based 465 00:20:59,119 --> 00:21:02,400 Speaker 1: on zes sestimates for certain homes. And we also all 466 00:21:02,400 --> 00:21:05,320 Speaker 1: know about this estimates. You know, looking at homes on 467 00:21:05,440 --> 00:21:07,680 Speaker 1: Zilo has kind of basically become become like a past 468 00:21:07,680 --> 00:21:10,399 Speaker 1: time for for for folks these days. Uh. And so 469 00:21:10,520 --> 00:21:13,160 Speaker 1: Zillo they are totally put putting their money where their 470 00:21:13,200 --> 00:21:16,040 Speaker 1: mouth is. Uh. They've been getting into the e buying 471 00:21:16,119 --> 00:21:18,440 Speaker 1: space over the last couple of years where they will 472 00:21:18,520 --> 00:21:21,080 Speaker 1: make an offer uh and purchase your home without you 473 00:21:21,119 --> 00:21:23,840 Speaker 1: having to hire an agent and put it, you know, 474 00:21:24,119 --> 00:21:26,640 Speaker 1: in on the open market. Uh. And you know where 475 00:21:26,640 --> 00:21:29,520 Speaker 1: you're letting hordes of unknown people into your home, which 476 00:21:29,520 --> 00:21:33,040 Speaker 1: has obviously become much less attractive these days. Right. Uh, Well, 477 00:21:33,080 --> 00:21:35,960 Speaker 1: you know now, so for certain homes, Zillo's z estimate 478 00:21:36,040 --> 00:21:39,679 Speaker 1: will now represent an initial cash offer from the company 479 00:21:39,720 --> 00:21:42,560 Speaker 1: to buy the property. And so this uh might not 480 00:21:42,640 --> 00:21:45,000 Speaker 1: get you top dollar, but it could get you out 481 00:21:45,040 --> 00:21:47,200 Speaker 1: of your home on an even quicker timeline if that's 482 00:21:47,200 --> 00:21:49,720 Speaker 1: a priority for you. It's just another way that technology 483 00:21:49,800 --> 00:21:52,040 Speaker 1: is starting to impact the area of real estate, which 484 00:21:52,119 --> 00:21:54,520 Speaker 1: we kind of like seeing. Uh, So we expect lots 485 00:21:54,520 --> 00:21:56,399 Speaker 1: more of this in the in the months, in the 486 00:21:56,440 --> 00:21:58,120 Speaker 1: years to come. Yeah, all right, we got one more 487 00:21:58,160 --> 00:22:00,119 Speaker 1: real estate story to get too, because it was a 488 00:22:00,119 --> 00:22:02,960 Speaker 1: busy week in real estate news. Uh. The supply of 489 00:22:03,000 --> 00:22:07,400 Speaker 1: homes has plummeted, so there's just a whole lot fewer 490 00:22:07,480 --> 00:22:09,320 Speaker 1: homes on the market right now, which has led to 491 00:22:09,720 --> 00:22:13,399 Speaker 1: inflated home prices and bidding wars out the wazoo. And 492 00:22:13,520 --> 00:22:15,240 Speaker 1: if you've been trying to buy a home, you know 493 00:22:15,280 --> 00:22:17,960 Speaker 1: this already. You know this firsthand. You don't want to 494 00:22:17,960 --> 00:22:19,800 Speaker 1: hear me talk about it because you're upset right now, 495 00:22:20,040 --> 00:22:22,200 Speaker 1: you're not too happy about it. But with the supply 496 00:22:22,280 --> 00:22:24,480 Speaker 1: and demand being out of kilter in such a big way, 497 00:22:24,880 --> 00:22:27,879 Speaker 1: and with the price of renting actually falling in a 498 00:22:27,880 --> 00:22:31,040 Speaker 1: whole lot of cities while home prices are ballooning, renting 499 00:22:31,240 --> 00:22:34,040 Speaker 1: is super smart for a lot of folks right now. 500 00:22:34,119 --> 00:22:35,680 Speaker 1: You may not want to rent, but it's going to 501 00:22:35,760 --> 00:22:38,119 Speaker 1: be the best thing for your budget, right yes, And 502 00:22:38,200 --> 00:22:40,680 Speaker 1: so if you really really want to buy a home, 503 00:22:40,920 --> 00:22:44,359 Speaker 1: it could behoove you to continue renting and continue saving 504 00:22:44,440 --> 00:22:47,160 Speaker 1: until the market starts to shift and more people are 505 00:22:47,200 --> 00:22:49,560 Speaker 1: willing to put their home on the market, bringing kind 506 00:22:49,560 --> 00:22:51,879 Speaker 1: of supply and demand back in a little bit of 507 00:22:51,880 --> 00:22:54,400 Speaker 1: a balance. But right now they're just completely out of whack. 508 00:22:54,600 --> 00:22:57,239 Speaker 1: Home prices continue to rise, rents are falling. It's like 509 00:22:57,440 --> 00:22:59,520 Speaker 1: it's a renter's market out there, man. And so yeah, 510 00:22:59,560 --> 00:23:01,680 Speaker 1: it's just and and that hasn't been the case for 511 00:23:01,720 --> 00:23:03,480 Speaker 1: a number of years. Rents have gone up and up, 512 00:23:03,600 --> 00:23:05,800 Speaker 1: but now they're starting to dip in many places. So 513 00:23:05,880 --> 00:23:08,640 Speaker 1: even if buying at home is something that you truly desire, 514 00:23:08,720 --> 00:23:10,080 Speaker 1: we would say, I don't think I want to wait 515 00:23:10,160 --> 00:23:11,800 Speaker 1: till the market corrects itself a little bit, dude. I 516 00:23:11,800 --> 00:23:14,360 Speaker 1: wouldn't even be surprised if that happens this as early 517 00:23:14,400 --> 00:23:16,560 Speaker 1: as this summer. I mean, things have been crazy throughout 518 00:23:16,560 --> 00:23:19,200 Speaker 1: this winter, and that's where we've seen this dramatic decrease 519 00:23:19,240 --> 00:23:21,320 Speaker 1: in the supply of homes on the market. But as 520 00:23:21,359 --> 00:23:23,600 Speaker 1: more people get the vaccine, as the weather warms up, 521 00:23:23,640 --> 00:23:26,119 Speaker 1: like folks are getting more used to being out and about, 522 00:23:26,200 --> 00:23:28,480 Speaker 1: you know, like they're they're not so shell shocked anymore 523 00:23:28,720 --> 00:23:31,239 Speaker 1: from you know, the pandemic and the state that has 524 00:23:31,320 --> 00:23:33,520 Speaker 1: left us in I really wouldn't be surprised if we 525 00:23:33,560 --> 00:23:35,160 Speaker 1: start to see things kind of cool down a little 526 00:23:35,200 --> 00:23:37,520 Speaker 1: bit even the spring, but you know, definitely by the summer, 527 00:23:37,520 --> 00:23:39,520 Speaker 1: which is typically kind of the opposite, right, like things 528 00:23:39,680 --> 00:23:42,159 Speaker 1: typically heat up in the summer. Um. But yeah, I 529 00:23:42,200 --> 00:23:45,080 Speaker 1: wouldn't be surprised if things are a little weird, uh, 530 00:23:45,359 --> 00:23:48,240 Speaker 1: as the temperatures start to rise. But but yeah, also 531 00:23:48,480 --> 00:23:50,160 Speaker 1: in the middle of that real estate sort of section, 532 00:23:50,200 --> 00:23:52,840 Speaker 1: I wanted to interrupt and basically call you out for 533 00:23:52,960 --> 00:23:56,080 Speaker 1: completely blending into our studio. So you're sitting here with 534 00:23:56,119 --> 00:23:58,480 Speaker 1: a green sweater on that is the exact color of 535 00:23:58,520 --> 00:24:01,320 Speaker 1: the wall behind you. You've got your navy slash, black 536 00:24:01,359 --> 00:24:04,600 Speaker 1: Atlanta brace had on that completely blends into our soundproofing panels, 537 00:24:04,920 --> 00:24:07,440 Speaker 1: and your faces tan color. Just like, dude, it's ridiculous. 538 00:24:07,800 --> 00:24:09,480 Speaker 1: If you can see what I am seeing right now, 539 00:24:09,760 --> 00:24:13,520 Speaker 1: it was very distracting for a few minutes ago. We 540 00:24:13,520 --> 00:24:16,879 Speaker 1: should we should post the picture or something. It is 541 00:24:17,119 --> 00:24:21,800 Speaker 1: very funny. Uh. I'm actually proud of myself for for 542 00:24:21,880 --> 00:24:24,720 Speaker 1: not interrupting the actual the news and the things we 543 00:24:24,720 --> 00:24:27,000 Speaker 1: we truly did want to talk about the meaningful content 544 00:24:27,080 --> 00:24:30,520 Speaker 1: of the show. With commenting on your appearance. I appreciate that, 545 00:24:30,560 --> 00:24:32,880 Speaker 1: but I'll yeah, I we'll totally share its picture. Yeah, 546 00:24:32,920 --> 00:24:35,160 Speaker 1: And if you don't follow How the Money on Instagram yet, 547 00:24:35,240 --> 00:24:37,080 Speaker 1: just go follow How the Money Pod. Matt and I 548 00:24:37,119 --> 00:24:39,440 Speaker 1: are often, you know, posting the episodes the beers were 549 00:24:39,480 --> 00:24:41,359 Speaker 1: having um and we're gonna do more stuff with our 550 00:24:41,400 --> 00:24:43,960 Speaker 1: Instagram this year too, so go give us a follow 551 00:24:44,000 --> 00:24:47,800 Speaker 1: over there and you can see my awkward outfit. Alright, 552 00:24:47,800 --> 00:24:49,760 Speaker 1: that's gonna be it for this episode. We hope everyone 553 00:24:49,800 --> 00:24:51,760 Speaker 1: has a great weekend and we hope to see you 554 00:24:51,760 --> 00:24:53,840 Speaker 1: back here on Monday. We've got a great listener questions 555 00:24:53,880 --> 00:24:56,560 Speaker 1: episode lined up for you, so we'll see you then, Joel. 556 00:24:56,640 --> 00:25:01,440 Speaker 1: Until next time, Best Friends Out, Best Friends Out. M