1 00:00:00,120 --> 00:00:03,199 Speaker 1: Welcome to How the Money. I'm Joel, I'm Matt. Today 2 00:00:03,200 --> 00:00:07,240 Speaker 1: we're discussing bricked phones, shadow inflation, and earning more without 3 00:00:07,240 --> 00:00:28,840 Speaker 1: a degree. That's right, Gel. This is our Friday flight 4 00:00:28,880 --> 00:00:31,320 Speaker 1: where every Friday we tackle some of the headlines that 5 00:00:31,360 --> 00:00:33,320 Speaker 1: we've come across in the news and how they pertain 6 00:00:33,400 --> 00:00:35,640 Speaker 1: to our money. First, we've got a quick tip for 7 00:00:35,640 --> 00:00:38,640 Speaker 1: folks though. Super cook is a website that we came across, 8 00:00:39,000 --> 00:00:42,400 Speaker 1: so this obviously pertains to food, but this is a 9 00:00:42,400 --> 00:00:44,639 Speaker 1: great site to figure out what to do with, say 10 00:00:44,720 --> 00:00:47,040 Speaker 1: like that last can of beans in the pantry, or 11 00:00:47,040 --> 00:00:49,520 Speaker 1: maybe the frozen broccoli and frozen ground beef in the freezer. 12 00:00:50,080 --> 00:00:51,720 Speaker 1: Because when it's getting towards the end of the month 13 00:00:51,720 --> 00:00:53,720 Speaker 1: and you're really sticking to the budget, you don't necessarily 14 00:00:53,760 --> 00:00:56,360 Speaker 1: want to go to the grocery store and and break 15 00:00:56,400 --> 00:00:58,360 Speaker 1: the seal essentially, right, So you want to be able 16 00:00:58,360 --> 00:01:00,200 Speaker 1: to utilize every single thing. But at the end of 17 00:01:00,200 --> 00:01:02,400 Speaker 1: a long day, it's like the worst, dipping into next 18 00:01:02,440 --> 00:01:06,120 Speaker 1: month's budget on the absolutely the worst. Yeah, but a 19 00:01:06,200 --> 00:01:07,920 Speaker 1: lot of times we just don't have the creativity at 20 00:01:07,920 --> 00:01:09,600 Speaker 1: the end of the day to think through. Okay, what 21 00:01:09,840 --> 00:01:12,959 Speaker 1: you know, could I actually do with these ingredients. Uh, 22 00:01:13,000 --> 00:01:14,399 Speaker 1: and this is a really cool sight. You get to 23 00:01:14,600 --> 00:01:17,720 Speaker 1: input what things you have and they basically spit out 24 00:01:17,760 --> 00:01:19,440 Speaker 1: a bunch of different recipes and you can sort it 25 00:01:19,480 --> 00:01:21,639 Speaker 1: by the type of meal that you're looking to create, 26 00:01:21,640 --> 00:01:23,760 Speaker 1: whether you're looking to make like dinner or lunch or 27 00:01:23,800 --> 00:01:26,000 Speaker 1: even just a side. So we would recommend that you 28 00:01:26,080 --> 00:01:28,080 Speaker 1: check it out. It's super cook dot com. All right, man, 29 00:01:28,080 --> 00:01:29,840 Speaker 1: I've got a can of beans and a box of 30 00:01:29,840 --> 00:01:32,320 Speaker 1: salting crackers. What do I make? I'm not the dieiver, 31 00:01:33,040 --> 00:01:37,119 Speaker 1: but luckily super cook basically it's like the mcgiver of recipes. Okay, 32 00:01:37,360 --> 00:01:39,600 Speaker 1: good enough, super Cook. It actually been checking it out too, 33 00:01:39,640 --> 00:01:41,400 Speaker 1: so I can say that as home cook tested at 34 00:01:41,440 --> 00:01:43,200 Speaker 1: least in our household. There you go. Well, I think 35 00:01:43,200 --> 00:01:46,600 Speaker 1: it is just it is helpful because it's like, like 36 00:01:46,880 --> 00:01:49,160 Speaker 1: like we said, it is easy to try to dip 37 00:01:49,200 --> 00:01:52,240 Speaker 1: into next month's budget too early, and if we're trying 38 00:01:52,240 --> 00:01:55,480 Speaker 1: to make our dollars go the furthest something as simple 39 00:01:55,680 --> 00:01:58,960 Speaker 1: as using the food that we have on hand is 40 00:01:59,040 --> 00:02:01,400 Speaker 1: one of those really really important ways because food is 41 00:02:01,440 --> 00:02:03,120 Speaker 1: such a large line at him in most of our 42 00:02:03,120 --> 00:02:05,480 Speaker 1: budgets every single months. Yeah, to make sure that we're 43 00:02:05,480 --> 00:02:08,840 Speaker 1: not busting our budget, and especially with food prices going up, 44 00:02:08,840 --> 00:02:10,079 Speaker 1: it's one of those things where it's like, we want 45 00:02:10,080 --> 00:02:11,720 Speaker 1: to use all of it right, we want to use 46 00:02:11,760 --> 00:02:14,560 Speaker 1: everything at our disposal. And there aren't many worse feelings 47 00:02:14,760 --> 00:02:18,920 Speaker 1: than throwing away what was perfectly good food because you 48 00:02:19,040 --> 00:02:21,960 Speaker 1: just kind of got lazy. And I've been there, I've 49 00:02:22,000 --> 00:02:24,720 Speaker 1: done that, and yeah, I'm gonna check this out. But 50 00:02:24,800 --> 00:02:26,919 Speaker 1: on that note, Matt, let's get to the Friday flight. 51 00:02:26,960 --> 00:02:29,760 Speaker 1: A quick sampling of stories we found interesting this week 52 00:02:29,919 --> 00:02:31,880 Speaker 1: and how they pertain to your money. And it is 53 00:02:31,919 --> 00:02:35,240 Speaker 1: a good thing that there are resources like super Cook 54 00:02:35,280 --> 00:02:36,840 Speaker 1: out there because all of us are going to have 55 00:02:37,000 --> 00:02:40,320 Speaker 1: to work harder to stretch our grocery budgets more because 56 00:02:40,320 --> 00:02:44,000 Speaker 1: prices are on the rise. UM data from last week 57 00:02:44,080 --> 00:02:47,679 Speaker 1: reveals that inflation is sticking around, at least for now. 58 00:02:48,040 --> 00:02:51,239 Speaker 1: There there was this debate for months about whether inflation 59 00:02:51,320 --> 00:02:54,480 Speaker 1: was transitory or whether it was here to stay. Companies 60 00:02:54,520 --> 00:02:56,920 Speaker 1: are even warning right now that prices are going to 61 00:02:56,960 --> 00:03:00,680 Speaker 1: continue to rise, gas, rent, and bake in all costs 62 00:03:00,720 --> 00:03:02,280 Speaker 1: more of these days. A lot of items of the 63 00:03:02,280 --> 00:03:05,440 Speaker 1: grocery store are really starting to take up in prices, right, 64 00:03:05,560 --> 00:03:08,120 Speaker 1: and yet so yeah, there's just been this talk whether 65 00:03:08,160 --> 00:03:11,200 Speaker 1: inflation is here for a limited time only, whether it's transitory, 66 00:03:11,360 --> 00:03:14,600 Speaker 1: or whether we're gonna see sustained rates of inflation for 67 00:03:14,680 --> 00:03:18,760 Speaker 1: years to come, and how long this inflation trend continues 68 00:03:18,800 --> 00:03:21,200 Speaker 1: at this rapid clip. It remains to be seen. But 69 00:03:21,280 --> 00:03:24,520 Speaker 1: it's certainly stickier than many assumed it would be. You 70 00:03:24,560 --> 00:03:27,240 Speaker 1: and I included, because a couple of months ago, I 71 00:03:27,240 --> 00:03:29,840 Speaker 1: think you and I kind of called the top. We thought, hey, 72 00:03:29,880 --> 00:03:33,160 Speaker 1: inflation is gonna start trending back downward now, and I 73 00:03:33,160 --> 00:03:35,600 Speaker 1: think we're wrong. That is true. I think we believe 74 00:03:35,640 --> 00:03:37,520 Speaker 1: it was gonna be a lot more temporary than it's 75 00:03:37,560 --> 00:03:40,800 Speaker 1: proven to be. And so we're talking about inflation, and 76 00:03:40,840 --> 00:03:44,560 Speaker 1: specifically food manufacturers they are also raising their prices. You 77 00:03:44,560 --> 00:03:49,400 Speaker 1: mentioned bacon, Joel uh much to Mysta gram personally, when 78 00:03:49,520 --> 00:03:52,800 Speaker 1: you know what the cost of inputs for food manufacturers 79 00:03:52,800 --> 00:03:54,760 Speaker 1: have gone up, they can only eat so much of 80 00:03:54,760 --> 00:03:57,120 Speaker 1: that cost before it gets passed along to us. The 81 00:03:57,160 --> 00:04:01,160 Speaker 1: Wall Street Journal they reported that historically consumers will put 82 00:04:01,240 --> 00:04:03,960 Speaker 1: up with some higher costs, but that once prices are 83 00:04:04,000 --> 00:04:07,040 Speaker 1: more than five percent higher, that basically consumers are going 84 00:04:07,080 --> 00:04:10,440 Speaker 1: to begin to change their buying habits. Um. And honestly, 85 00:04:10,480 --> 00:04:12,880 Speaker 1: we think that this is a great thing because regardless 86 00:04:13,120 --> 00:04:15,480 Speaker 1: of what you're buying, you should be price sensitive, even 87 00:04:15,520 --> 00:04:18,720 Speaker 1: with your splurge purchase, like in our case craft beer, 88 00:04:18,760 --> 00:04:21,400 Speaker 1: we talked about you walking away from a four pack 89 00:04:21,480 --> 00:04:24,120 Speaker 1: of a very expensive beer. Even with those splurges, we 90 00:04:24,160 --> 00:04:27,000 Speaker 1: need to be price sensitive. Uh. And so maybe you know, Joel, 91 00:04:27,000 --> 00:04:29,440 Speaker 1: maybe last year, y, you're having bacon every single Saturday morning. 92 00:04:29,800 --> 00:04:31,760 Speaker 1: How did you know that? But now like it might 93 00:04:31,800 --> 00:04:33,240 Speaker 1: be time to switch, you know, switch it to more 94 00:04:33,279 --> 00:04:35,960 Speaker 1: of a monthly splurge rather than a weekly thing. And 95 00:04:36,000 --> 00:04:38,200 Speaker 1: so it's just a good time to reconsider some of 96 00:04:38,279 --> 00:04:41,920 Speaker 1: your own shopping habits and even to address your brand loyalty. 97 00:04:41,920 --> 00:04:44,200 Speaker 1: You might have a few brands that you always go 98 00:04:44,279 --> 00:04:46,360 Speaker 1: to because you're like, oh, no, they're the best. Well 99 00:04:46,400 --> 00:04:49,080 Speaker 1: are they really the best? Uh? Is it worth continuing 100 00:04:49,120 --> 00:04:51,159 Speaker 1: to pay you know, the same price or even higher 101 00:04:51,160 --> 00:04:54,440 Speaker 1: prices now? Uh? In order to maintain that same quality 102 00:04:54,480 --> 00:04:56,280 Speaker 1: of living. Maybe there's a way that you can get 103 00:04:56,279 --> 00:04:58,640 Speaker 1: exactly what you've been getting, but just for a cheaper price. 104 00:04:58,680 --> 00:05:00,000 Speaker 1: This is a good time for us to maybe bring 105 00:05:00,080 --> 00:05:04,240 Speaker 1: up aldi I'm I'm a professed fanboy of Aldi. I'm 106 00:05:04,240 --> 00:05:07,279 Speaker 1: thinking about getting it tattooed on my knuckles. Joel, maybe 107 00:05:07,320 --> 00:05:09,880 Speaker 1: audio one side and Leetle on the other, even though yeah, 108 00:05:10,040 --> 00:05:13,080 Speaker 1: four letters it would fit on each hand. But I 109 00:05:13,080 --> 00:05:15,080 Speaker 1: actually haven't been to a legal. But in either case, 110 00:05:15,120 --> 00:05:16,960 Speaker 1: if you have not stepped foot at least in an Aldi, 111 00:05:17,240 --> 00:05:19,440 Speaker 1: you're missing out on the opportunity to to save a 112 00:05:19,480 --> 00:05:21,680 Speaker 1: ton of money every single month. Unfortunately, there's a legal 113 00:05:21,720 --> 00:05:23,560 Speaker 1: going in right around the corner from our house, and 114 00:05:24,279 --> 00:05:25,760 Speaker 1: it should be open I don't know the next six 115 00:05:25,760 --> 00:05:28,599 Speaker 1: months hopefully. But that's a good point, man. I think 116 00:05:28,720 --> 00:05:32,680 Speaker 1: what you mentioned about substitution that's really really important when 117 00:05:32,680 --> 00:05:34,600 Speaker 1: it comes to our budget, buying things on sale when 118 00:05:34,600 --> 00:05:37,400 Speaker 1: we can, but then substituting things. So let's say beef 119 00:05:37,400 --> 00:05:40,440 Speaker 1: prices are up, but chicken prices have remained pretty stable. 120 00:05:41,279 --> 00:05:43,600 Speaker 1: More chicken or you're eating less meat altogether. Right, that's 121 00:05:43,640 --> 00:05:45,880 Speaker 1: a that's a big way that there are people in 122 00:05:45,920 --> 00:05:48,400 Speaker 1: the Facebook group actually talking about it this week and 123 00:05:48,440 --> 00:05:52,200 Speaker 1: they're saying, yeah, basically cutting out meat is a huge 124 00:05:52,200 --> 00:05:55,560 Speaker 1: way to trim your budget quickly in the grocery hout, 125 00:05:55,560 --> 00:05:57,480 Speaker 1: which is very true we're going back to the bacon. 126 00:05:57,600 --> 00:06:00,839 Speaker 1: I mean, we often use bacon not as like a 127 00:06:01,040 --> 00:06:03,320 Speaker 1: like a meat, like a protein, but almost like a garnish. Right, 128 00:06:03,360 --> 00:06:05,159 Speaker 1: And so if you're just having a fritata, just like 129 00:06:05,160 --> 00:06:07,960 Speaker 1: a little bit of they can sprinkle on top instead 130 00:06:07,960 --> 00:06:11,360 Speaker 1: of like four fat slab, you know, slices of baking 131 00:06:11,400 --> 00:06:13,159 Speaker 1: on the side. Yeah, that's true. It's healthier to do 132 00:06:13,200 --> 00:06:15,360 Speaker 1: it that way too. But the thing is, Matt, this 133 00:06:15,480 --> 00:06:19,279 Speaker 1: nagging inflation isn't just leading to increase prices. Sure, yeah, 134 00:06:19,360 --> 00:06:21,480 Speaker 1: some of your prices of the grocery store have gone up. 135 00:06:21,680 --> 00:06:24,440 Speaker 1: We all know, how how what's happening to use car 136 00:06:24,480 --> 00:06:28,200 Speaker 1: prices over the course of the past year. But this 137 00:06:28,279 --> 00:06:32,679 Speaker 1: inflation is also causing much higher levels of inconvenience. Shipping 138 00:06:32,680 --> 00:06:35,440 Speaker 1: delays and products being in short supply are of course 139 00:06:35,560 --> 00:06:37,880 Speaker 1: a part of that. You know, Matt. We're still working 140 00:06:38,000 --> 00:06:40,239 Speaker 1: on our home renovation Emily and I, and we're definitely 141 00:06:40,279 --> 00:06:43,400 Speaker 1: bumping into some issues. Yeah, some of the cabinet supply 142 00:06:43,480 --> 00:06:46,840 Speaker 1: issues or tile it's like you actually you got to 143 00:06:46,920 --> 00:06:49,160 Speaker 1: choose some new tile because that ran out and we're 144 00:06:49,160 --> 00:06:51,520 Speaker 1: still waiting to get more in And the New York 145 00:06:51,560 --> 00:06:54,719 Speaker 1: Times actually just wrote an article about something they're calling 146 00:06:54,920 --> 00:06:59,159 Speaker 1: shadow inflation, and it's detailing essentially how companies are cutting 147 00:06:59,160 --> 00:07:01,880 Speaker 1: back on the customer service and some of the other 148 00:07:01,920 --> 00:07:05,400 Speaker 1: conveniences that they offer. Basically, if you're waiting longer on hold, 149 00:07:05,640 --> 00:07:09,560 Speaker 1: it's probably largely because inflation has impacted the job market 150 00:07:09,600 --> 00:07:11,960 Speaker 1: in a big way. And so, first two things, real quick. 151 00:07:11,960 --> 00:07:14,000 Speaker 1: I love that's called shadow inflation because it makes me 152 00:07:14,000 --> 00:07:15,880 Speaker 1: think of like a spy movie, makes me think of 153 00:07:15,880 --> 00:07:19,239 Speaker 1: like espionage. But secondly, this is a lot like shrink flation, 154 00:07:19,280 --> 00:07:21,440 Speaker 1: which we've talked about. Instead of the price of a 155 00:07:21,440 --> 00:07:24,680 Speaker 1: product going up, they've just decreased the quality or maybe 156 00:07:24,720 --> 00:07:26,800 Speaker 1: not the quality, but the quantity of what you receive. 157 00:07:27,240 --> 00:07:29,400 Speaker 1: And this is more decreasing the quality though of like 158 00:07:29,440 --> 00:07:31,240 Speaker 1: the goods and service or the number of people who 159 00:07:31,280 --> 00:07:34,040 Speaker 1: are able to even work. And so we're seeing this, 160 00:07:34,120 --> 00:07:38,200 Speaker 1: like shrink flation, effects the actual labor market and services provided, 161 00:07:38,320 --> 00:07:41,680 Speaker 1: and thus shadow inflation exactly love that term. And let's 162 00:07:41,720 --> 00:07:43,920 Speaker 1: say you've got in a car wreck. The part you 163 00:07:43,920 --> 00:07:47,840 Speaker 1: need is potentially delayed. Some people have confessed to waiting 164 00:07:47,880 --> 00:07:50,360 Speaker 1: months on a part for a car to come in, 165 00:07:50,400 --> 00:07:52,640 Speaker 1: and so they're driving an over price frontal car, of course, 166 00:07:52,920 --> 00:07:55,440 Speaker 1: inconvenient for the time being. Hopefully that's being picked up 167 00:07:55,440 --> 00:07:57,960 Speaker 1: by your insurance company. But the same is true. Let's say, 168 00:07:57,960 --> 00:08:01,400 Speaker 1: if you need your appliance needs to be repaired. Basically, 169 00:08:01,480 --> 00:08:05,200 Speaker 1: inflation is impacting almost every area of our lives right now, 170 00:08:05,600 --> 00:08:09,880 Speaker 1: and it's specifically causing higher levels of inconvenience for everyone, 171 00:08:10,200 --> 00:08:13,640 Speaker 1: including everyone with kids. That's right. Yeah. The Washington Post, 172 00:08:13,720 --> 00:08:16,920 Speaker 1: they recently ran a story about the current childcare crisis 173 00:08:16,960 --> 00:08:19,160 Speaker 1: that's happening right now. There are still a lot of 174 00:08:19,160 --> 00:08:22,440 Speaker 1: women absent from the workforce, many of whom typically fill 175 00:08:22,480 --> 00:08:25,280 Speaker 1: these roles, and as more parents are attempting to return 176 00:08:25,320 --> 00:08:28,200 Speaker 1: to the office, they're just having trouble finding spots for 177 00:08:28,240 --> 00:08:30,400 Speaker 1: their kids. We've actually been lucky. Our youngest, our two 178 00:08:30,480 --> 00:08:33,800 Speaker 1: year old son, uh you know, are the director there 179 00:08:33,840 --> 00:08:36,199 Speaker 1: at that school, hasn't had any problems staffing. But that's 180 00:08:36,200 --> 00:08:38,800 Speaker 1: something that you'll even seen where you take Essie right, yeah, 181 00:08:39,000 --> 00:08:41,520 Speaker 1: turnover already in his teachers early in the school year. 182 00:08:41,559 --> 00:08:44,480 Speaker 1: Trying to find a replacement was really difficult. So this 183 00:08:44,559 --> 00:08:49,280 Speaker 1: is definitely something we're seeing at childcare centers across the country. Definitely, Yeah, 184 00:08:49,280 --> 00:08:51,360 Speaker 1: I mean I saw that some childcare centers like they're 185 00:08:51,400 --> 00:08:54,280 Speaker 1: even reducing their hours or if even closed completely, they're 186 00:08:54,280 --> 00:08:56,480 Speaker 1: just shutting their doors. And stats show that the lack 187 00:08:56,480 --> 00:08:59,640 Speaker 1: of childcare employees is actually worse than it is and 188 00:08:59,720 --> 00:09:02,000 Speaker 1: rest un right now. And we've all seen how you know, 189 00:09:02,040 --> 00:09:04,680 Speaker 1: bad that's actually gotten right Uh, And so part of 190 00:09:04,679 --> 00:09:06,559 Speaker 1: that is because of the you know, the pay is 191 00:09:06,600 --> 00:09:08,880 Speaker 1: not so great in that industry. But we we mentioned 192 00:09:08,880 --> 00:09:10,920 Speaker 1: this because if you get called back into the office, 193 00:09:11,200 --> 00:09:12,880 Speaker 1: there's gonna be a decent chance that you won't even 194 00:09:12,920 --> 00:09:16,160 Speaker 1: be able to find childcare right now. Uh. And that 195 00:09:16,360 --> 00:09:18,720 Speaker 1: reality continues to just to have an impact on what 196 00:09:18,800 --> 00:09:21,400 Speaker 1: life for parents specifically is going to look like on 197 00:09:21,400 --> 00:09:24,840 Speaker 1: a day to day basis and on workforce participation rates. 198 00:09:24,840 --> 00:09:27,720 Speaker 1: That's something that you need to be thinking about, hopefully 199 00:09:27,880 --> 00:09:30,440 Speaker 1: before you get that call to head back into the office. 200 00:09:30,440 --> 00:09:32,240 Speaker 1: And let's say there's no childcare for your kid. I 201 00:09:32,240 --> 00:09:35,280 Speaker 1: guess one option is to quit your job and stay 202 00:09:35,320 --> 00:09:37,880 Speaker 1: home with the kid if you want. That's what actually 203 00:09:38,200 --> 00:09:40,680 Speaker 1: a lot of folks are doing, not not necessarily to 204 00:09:40,960 --> 00:09:43,520 Speaker 1: stay home with your kids, but just quitting in general. Right. 205 00:09:43,800 --> 00:09:47,640 Speaker 1: The great resignation, as it's been called, it's continuing, and 206 00:09:47,679 --> 00:09:50,160 Speaker 1: actually August was a record breaking month when it comes 207 00:09:50,200 --> 00:09:54,360 Speaker 1: to quitting work. Four point three million Americans decided that 208 00:09:54,400 --> 00:09:57,080 Speaker 1: it was time to say peace out to their current employer. 209 00:09:57,480 --> 00:10:00,480 Speaker 1: And there's actually this new survey this week from Credential, 210 00:10:00,800 --> 00:10:05,199 Speaker 1: and it showed that five intent workers are actively looking 211 00:10:05,400 --> 00:10:07,480 Speaker 1: or are about to start looking for a new job. 212 00:10:07,640 --> 00:10:09,000 Speaker 1: And I don't know why I said five intends you 213 00:10:09,000 --> 00:10:12,000 Speaker 1: could say one and two write like that's fraction simplification 214 00:10:12,080 --> 00:10:15,280 Speaker 1: right there. And millennials, as it turns out, they land 215 00:10:15,360 --> 00:10:18,120 Speaker 1: even more squarely in the I'm about to quit camp 216 00:10:18,280 --> 00:10:21,760 Speaker 1: because they're seeing the headlines about wage increases, and it 217 00:10:21,760 --> 00:10:24,120 Speaker 1: turns out they are scouring the job boards in order 218 00:10:24,160 --> 00:10:27,160 Speaker 1: to increase their pay or in an attempt to get 219 00:10:27,440 --> 00:10:30,000 Speaker 1: better benefits. And so here's the thing. If you love 220 00:10:30,000 --> 00:10:33,000 Speaker 1: your job, we would say, don't quit. There are ways 221 00:10:33,040 --> 00:10:35,800 Speaker 1: to make more money and to stay put if that's 222 00:10:35,800 --> 00:10:37,680 Speaker 1: what you really want to do, if you're not looking 223 00:10:37,720 --> 00:10:41,320 Speaker 1: to move on to greener pastures. Our friend Jesse actually 224 00:10:41,480 --> 00:10:44,800 Speaker 1: recently wrote about his experience doing just that on his 225 00:10:44,880 --> 00:10:47,839 Speaker 1: site Best Interest. It was a really good article about 226 00:10:47,880 --> 00:10:50,839 Speaker 1: how he was able to negotiate a really big pay bump, 227 00:10:51,120 --> 00:10:53,480 Speaker 1: even when he was initially told no, we'll put a 228 00:10:53,480 --> 00:10:55,520 Speaker 1: link to that one in the show notes so that 229 00:10:55,559 --> 00:10:58,160 Speaker 1: you can check it out. Yes, we will. This also 230 00:10:58,200 --> 00:11:00,120 Speaker 1: makes me think of the two sides kind of of 231 00:11:00,160 --> 00:11:03,640 Speaker 1: the proverbial yellow coin. Right. Uh, we're similar to quin 232 00:11:04,800 --> 00:11:08,280 Speaker 1: it's worth just as much if let's say you've got 233 00:11:08,320 --> 00:11:11,160 Speaker 1: cash on hand to support quitting your job and maybe 234 00:11:11,160 --> 00:11:14,040 Speaker 1: you're just playing done with doing that that work. We 235 00:11:14,080 --> 00:11:15,880 Speaker 1: feel that it's okay to quit even if you don't 236 00:11:15,880 --> 00:11:18,160 Speaker 1: have another job locked down, right, And so we're all 237 00:11:18,200 --> 00:11:22,520 Speaker 1: about the yellow mindset that prioritizes working less or even 238 00:11:22,679 --> 00:11:25,000 Speaker 1: you know, quitting your job altogether as long as you're 239 00:11:25,040 --> 00:11:28,600 Speaker 1: in the financial position to do so. Butts. And here's 240 00:11:28,640 --> 00:11:30,680 Speaker 1: the other side of the coin, right, we're always against 241 00:11:30,679 --> 00:11:33,160 Speaker 1: the yellow mindset when it comes to just buying crap 242 00:11:33,480 --> 00:11:35,600 Speaker 1: when it comes to consumption. So here's a helpful way 243 00:11:35,600 --> 00:11:38,000 Speaker 1: to view the job market, Joel, as as we've been 244 00:11:38,040 --> 00:11:39,680 Speaker 1: talking about it. You know the fact that so many 245 00:11:39,720 --> 00:11:42,600 Speaker 1: folks are quitting that that means that wages are rising, 246 00:11:42,640 --> 00:11:45,640 Speaker 1: the rising fast and that employers are sweetening the pot 247 00:11:45,679 --> 00:11:49,240 Speaker 1: because of how desperately they need workers. Uh, some businesses 248 00:11:49,280 --> 00:11:52,800 Speaker 1: are actually reporting that nine of candidates who schedule interviews 249 00:11:52,960 --> 00:11:55,120 Speaker 1: aren't even bothering to show up. And so for a 250 00:11:55,120 --> 00:11:58,040 Speaker 1: lot of positions, if you have a pulse, you're gonna 251 00:11:58,040 --> 00:12:00,719 Speaker 1: get hired. And on the other into like this is 252 00:12:00,720 --> 00:12:03,000 Speaker 1: a tough spot for managers and teams who are trying 253 00:12:03,000 --> 00:12:06,160 Speaker 1: to maintain their staff or or you know, God forbid, 254 00:12:06,200 --> 00:12:08,400 Speaker 1: even ramp up, I couldn't imagine trying to do that 255 00:12:08,480 --> 00:12:11,240 Speaker 1: right now. But the great resignation is the perfect time 256 00:12:11,600 --> 00:12:14,520 Speaker 1: for everyone else out there to maybe make a lateral move, 257 00:12:14,559 --> 00:12:17,600 Speaker 1: maybe to earn more even transition to a company that's 258 00:12:17,600 --> 00:12:20,960 Speaker 1: going to offer you superior perks. If you're so inclined, 259 00:12:21,000 --> 00:12:23,640 Speaker 1: if you're thinking about leaving anyway, now might be a 260 00:12:23,679 --> 00:12:26,760 Speaker 1: great time to take advantage of the current labor market. Agreed, 261 00:12:26,800 --> 00:12:30,199 Speaker 1: Sometimes the best opportunities for us as individuals up here 262 00:12:30,240 --> 00:12:32,360 Speaker 1: when we least expect them. And this is just one 263 00:12:32,400 --> 00:12:34,760 Speaker 1: of those times where you never know. If you start 264 00:12:34,800 --> 00:12:37,120 Speaker 1: putting out some feelers, if you start looking at some 265 00:12:37,280 --> 00:12:39,959 Speaker 1: of the job sites, if you start emailing some of 266 00:12:39,960 --> 00:12:41,680 Speaker 1: the folks in your network and telling them that you're 267 00:12:42,000 --> 00:12:45,240 Speaker 1: kind of interested, you're looking around, you might find something 268 00:12:45,320 --> 00:12:48,199 Speaker 1: falls into your lap. That's way better than you assumed, 269 00:12:48,240 --> 00:12:51,120 Speaker 1: and right now is just a great time to be 270 00:12:51,200 --> 00:12:54,400 Speaker 1: curious when it comes to your career. That's right. But 271 00:12:54,440 --> 00:12:57,120 Speaker 1: that's enough about some super nerdy inflation talk. I feel 272 00:12:57,120 --> 00:12:59,040 Speaker 1: like we spent a lot of time talking about that. 273 00:12:59,120 --> 00:13:02,080 Speaker 1: We're gonna talk about a variety of topics here coming up, 274 00:13:02,120 --> 00:13:05,199 Speaker 1: including like planned obsolescence and just some of the jobs 275 00:13:05,200 --> 00:13:07,720 Speaker 1: that you can take on that don't require a college 276 00:13:07,760 --> 00:13:09,880 Speaker 1: degree but pay really well, we'll get to all of 277 00:13:09,920 --> 00:13:20,520 Speaker 1: that right after this break. All right, we're back. Let's 278 00:13:20,559 --> 00:13:23,559 Speaker 1: keep this Friday flight rolling. Now it's time for, of course, 279 00:13:23,600 --> 00:13:26,720 Speaker 1: the ludicrous headline of the week, where, by the way, 280 00:13:26,800 --> 00:13:31,160 Speaker 1: Elon Musk never jumped on the jumped on the opportunity 281 00:13:31,200 --> 00:13:33,599 Speaker 1: that we dangled in front of him. The sponsor the 282 00:13:33,640 --> 00:13:36,960 Speaker 1: ludicrouslin of the Week, well, I'm sure he's just got 283 00:13:37,040 --> 00:13:39,280 Speaker 1: a backlog of tweets, he's got back just busy next week, 284 00:13:39,520 --> 00:13:43,040 Speaker 1: he's my guest. But the Lucas headline of the week, 285 00:13:43,080 --> 00:13:45,080 Speaker 1: of course, is a chance for us to spot a 286 00:13:45,120 --> 00:13:48,280 Speaker 1: headline from around the internet this week that has to 287 00:13:48,320 --> 00:13:50,560 Speaker 1: do with money and to kind of pick it apart 288 00:13:50,679 --> 00:13:53,640 Speaker 1: because it's got a little bit of insanity going on, 289 00:13:53,880 --> 00:13:58,000 Speaker 1: and this headline was from Bloomberg. It said, supply chain 290 00:13:58,080 --> 00:14:01,120 Speaker 1: crisis is bad for iPhones, for gift cards, and it 291 00:14:01,160 --> 00:14:03,080 Speaker 1: turns out that gift cards are likely to make a 292 00:14:03,080 --> 00:14:05,880 Speaker 1: bigger splash. Uh, They're going to be a bigger gift 293 00:14:06,000 --> 00:14:09,680 Speaker 1: this holiday season for a lot of folks. Roughly of 294 00:14:09,840 --> 00:14:14,559 Speaker 1: overall holiday spending is expected to be spent on gift cards. 295 00:14:15,240 --> 00:14:17,920 Speaker 1: All right, Like that that has so much plastic being 296 00:14:17,960 --> 00:14:20,320 Speaker 1: exchange from one person to do another. That's four and 297 00:14:20,360 --> 00:14:23,360 Speaker 1: ten dollars or two and five is someone say make 298 00:14:23,400 --> 00:14:25,120 Speaker 1: it a lot easier to under right? Yeah, but we 299 00:14:25,160 --> 00:14:27,560 Speaker 1: would say this isn't a good thing that that many 300 00:14:27,600 --> 00:14:31,200 Speaker 1: dollars are flowing towards the gift card market. And the 301 00:14:31,240 --> 00:14:34,000 Speaker 1: reason for that is, did you know that almost three 302 00:14:34,080 --> 00:14:37,880 Speaker 1: billion dollars in money that went on gift cards went 303 00:14:38,000 --> 00:14:42,280 Speaker 1: unused in twenty nine, three billion dollars. And so when 304 00:14:42,280 --> 00:14:45,440 Speaker 1: you give a gift card, there's a really really good 305 00:14:45,520 --> 00:14:49,040 Speaker 1: chance that, even if the recipient loves that store a restaurant, 306 00:14:49,440 --> 00:14:51,040 Speaker 1: that that gift card ends up in a drawer and 307 00:14:51,040 --> 00:14:54,000 Speaker 1: it ends up going unspent. And so it might seem 308 00:14:54,120 --> 00:14:56,360 Speaker 1: more thoughtful to get someone a gift card, but it 309 00:14:56,400 --> 00:14:59,040 Speaker 1: often ends up being wasteful. A lot of those gift cards, 310 00:14:59,080 --> 00:15:00,880 Speaker 1: even if you know the person well and you know 311 00:15:00,920 --> 00:15:04,120 Speaker 1: they love that place, sometimes that gift card gets forgotten 312 00:15:04,440 --> 00:15:07,240 Speaker 1: and the money goes unused. And that is what we 313 00:15:07,280 --> 00:15:08,600 Speaker 1: what we hate to see. That's why we hate to 314 00:15:08,600 --> 00:15:11,520 Speaker 1: see gift card spending. Just like skyrocketing. Basically, it just 315 00:15:11,520 --> 00:15:13,880 Speaker 1: adds another step of friction, and so instead of actually 316 00:15:13,920 --> 00:15:16,120 Speaker 1: having cash to to go to whatever restaurant you want, 317 00:15:16,160 --> 00:15:18,360 Speaker 1: you have to remember to grab the gift card out 318 00:15:18,360 --> 00:15:21,200 Speaker 1: of the drawer. Um. I've forgotten gift cards so many 319 00:15:21,200 --> 00:15:24,000 Speaker 1: times and then I hunched myself in the face afterwards. 320 00:15:24,720 --> 00:15:27,920 Speaker 1: And like you, you truly do need to be incredibly methodical, 321 00:15:28,040 --> 00:15:30,720 Speaker 1: incredibly organized. And here's the thing. I feel that like 322 00:15:30,760 --> 00:15:33,600 Speaker 1: I would describe myself as being incredibly methodical and like 323 00:15:33,640 --> 00:15:36,480 Speaker 1: a robot, I try to devoid myself of any emotions, right, 324 00:15:36,800 --> 00:15:39,480 Speaker 1: but even still I also forget. Of course, there are 325 00:15:39,480 --> 00:15:41,720 Speaker 1: certain places we go that we're excited to go to, 326 00:15:41,800 --> 00:15:44,520 Speaker 1: but it's always those gift cards to places that you 327 00:15:44,560 --> 00:15:46,680 Speaker 1: don't normally go to, and you don't think about it 328 00:15:46,720 --> 00:15:49,520 Speaker 1: when it's time to say go grab coffee with a friend. 329 00:15:49,720 --> 00:15:51,520 Speaker 1: You don't think about going to the coffee shop where 330 00:15:51,520 --> 00:15:53,160 Speaker 1: you have the gift card, because that's not normally a 331 00:15:53,200 --> 00:15:55,320 Speaker 1: place that I would go to anyway. Actually, maybe I 332 00:15:55,320 --> 00:15:57,240 Speaker 1: should make it a point to burn through some of 333 00:15:57,240 --> 00:15:58,520 Speaker 1: those cards by the end of the year, just to 334 00:15:58,560 --> 00:16:00,680 Speaker 1: make sure I don't end up as part of those stats. No, 335 00:16:00,800 --> 00:16:02,480 Speaker 1: that's the thing. I mean, that's a good reminder when 336 00:16:02,520 --> 00:16:04,080 Speaker 1: we hear a story like this and we're like, yeah, 337 00:16:04,080 --> 00:16:06,360 Speaker 1: gift cards. Actually a lot of people are wasted out 338 00:16:06,360 --> 00:16:08,360 Speaker 1: of the drawers, set them on the counter, because that's 339 00:16:08,360 --> 00:16:10,760 Speaker 1: another thing to write, Maybe that three billion stat when 340 00:16:10,760 --> 00:16:12,360 Speaker 1: when it's out of sight, it's out of mind, and 341 00:16:12,360 --> 00:16:15,479 Speaker 1: when it's tucked away in that drawer, underneath the papers, 342 00:16:15,480 --> 00:16:17,280 Speaker 1: wrapped with the you know, in our case there's a 343 00:16:17,320 --> 00:16:19,560 Speaker 1: rubber band around it, as in a zip black bag. 344 00:16:20,240 --> 00:16:21,760 Speaker 1: Like you just don't think about it, and we need 345 00:16:21,800 --> 00:16:24,440 Speaker 1: to be thinking about redeeming that money more than we are. 346 00:16:25,040 --> 00:16:27,400 Speaker 1: There is actually this economics professor who was quoted in 347 00:16:27,440 --> 00:16:31,400 Speaker 1: that Bloomberg article who called it crass to give cash, 348 00:16:31,720 --> 00:16:33,400 Speaker 1: and we know we kind of touched on this recently 349 00:16:33,440 --> 00:16:35,880 Speaker 1: in Our Money Etiquettes episode A couple of weeks ago, 350 00:16:36,120 --> 00:16:39,800 Speaker 1: but we strongly disagree. We are big proponents of giving 351 00:16:39,840 --> 00:16:42,560 Speaker 1: cash over gift cards. Again, you know, like why would 352 00:16:42,560 --> 00:16:45,000 Speaker 1: you trade in something that can be used anywhere in 353 00:16:45,080 --> 00:16:47,120 Speaker 1: order to force someone to spend it only at a 354 00:16:47,160 --> 00:16:49,880 Speaker 1: single store. And the big difference here that like, the 355 00:16:49,920 --> 00:16:53,280 Speaker 1: way that you make cash not crass or rude is 356 00:16:53,360 --> 00:16:55,080 Speaker 1: just to make sure that you write a nice note 357 00:16:55,280 --> 00:16:59,000 Speaker 1: alongside that cash gift, because the real reason that cash 358 00:16:59,120 --> 00:17:02,200 Speaker 1: is seen as rude or like a faux pa is 359 00:17:02,200 --> 00:17:04,240 Speaker 1: because they can just seem thoughtless, like you're not thinking 360 00:17:04,280 --> 00:17:06,199 Speaker 1: about it, You're just pulling some money out of the wallet, 361 00:17:06,240 --> 00:17:08,240 Speaker 1: just putting it in an envelope like a rich uncle, 362 00:17:08,440 --> 00:17:10,600 Speaker 1: that kind of thing. And so we think that there's 363 00:17:10,600 --> 00:17:13,239 Speaker 1: a thoughtful way to be able to give cash as 364 00:17:13,240 --> 00:17:16,160 Speaker 1: a gift. But the only time buying a gift card 365 00:17:16,440 --> 00:17:18,200 Speaker 1: actually makes real sense is if you're able to get 366 00:17:18,200 --> 00:17:20,040 Speaker 1: a discount on it. And you know, like Joel, you 367 00:17:20,080 --> 00:17:22,640 Speaker 1: like to do this with a favorite restaurant locally once 368 00:17:22,680 --> 00:17:25,560 Speaker 1: a year they'll offer, uh, what do they offer? It's 369 00:17:25,600 --> 00:17:28,800 Speaker 1: like it's usually two hundred dollars and you get three 370 00:17:29,160 --> 00:17:31,960 Speaker 1: dollars for the gift cards. So that's a massive that's 371 00:17:31,960 --> 00:17:34,159 Speaker 1: a fantastic deal. That's a great incentive to get a 372 00:17:34,160 --> 00:17:36,200 Speaker 1: gift card. And that's the place that you all love 373 00:17:36,240 --> 00:17:38,200 Speaker 1: going to, so you never forget about it, like it's 374 00:17:38,200 --> 00:17:40,000 Speaker 1: always on your mind because you want to go there. 375 00:17:40,040 --> 00:17:41,920 Speaker 1: Every time we go there, we the gift cards because 376 00:17:41,920 --> 00:17:44,359 Speaker 1: that's kind of the way it goes down. But and 377 00:17:44,400 --> 00:17:47,200 Speaker 1: that's that's smart. Like if you're shopping at Costco, maybe 378 00:17:47,440 --> 00:17:50,920 Speaker 1: I know you it's not your favorite store, but Costco 379 00:17:51,040 --> 00:17:53,160 Speaker 1: has discount of gift cards, and so if you're like, oh, great, 380 00:17:53,200 --> 00:17:55,280 Speaker 1: these are gonna be great gifts for someone, and I'm 381 00:17:55,280 --> 00:17:57,800 Speaker 1: gonna pay less than full price, I think it can 382 00:17:57,840 --> 00:18:00,560 Speaker 1: make sense in in that context. But if you're just 383 00:18:00,720 --> 00:18:03,120 Speaker 1: literally handing over twenty five dollars to get a twenty 384 00:18:03,119 --> 00:18:05,640 Speaker 1: five dollar Starbucks skift card, don't do it, like give 385 00:18:05,720 --> 00:18:08,200 Speaker 1: someone that cash instead, let them make the choice about 386 00:18:08,240 --> 00:18:10,640 Speaker 1: what they want to do with the money that you've 387 00:18:10,680 --> 00:18:13,280 Speaker 1: thoughtfully given to them. I think it's even okay to 388 00:18:13,359 --> 00:18:16,199 Speaker 1: like venmo or cash ap somebody money. It's just in 389 00:18:16,200 --> 00:18:17,960 Speaker 1: the memo or like where the description is like write 390 00:18:17,960 --> 00:18:21,520 Speaker 1: a poem there or something like Yeah, But I mean, 391 00:18:21,920 --> 00:18:24,479 Speaker 1: let's be honest, an actual written card that it's going 392 00:18:24,520 --> 00:18:26,960 Speaker 1: to go further. Oh yeah, I mean having something tangible 393 00:18:27,000 --> 00:18:28,800 Speaker 1: like that. That being said, I will put my Venmo 394 00:18:28,920 --> 00:18:30,840 Speaker 1: handle in the show notes in case anybody wants to 395 00:18:30,880 --> 00:18:33,760 Speaker 1: thoughtfully send money. Uh, just kidding. All right, let's let's 396 00:18:33,760 --> 00:18:35,119 Speaker 1: move on the mat, let's talk. Let's get in the 397 00:18:35,160 --> 00:18:37,439 Speaker 1: next story. This one's about planned ops of lessons. The 398 00:18:37,640 --> 00:18:40,719 Speaker 1: new Google Pixel six was just announced this week. You're 399 00:18:40,760 --> 00:18:42,720 Speaker 1: excited about that, Well, not really. I mean, it looks 400 00:18:42,720 --> 00:18:45,280 Speaker 1: really nice, but I am personally quite content with my 401 00:18:45,400 --> 00:18:48,119 Speaker 1: Pixel four A, which has been a delight. It's a 402 00:18:48,160 --> 00:18:50,080 Speaker 1: solid phone, and it was pretty inexpensive. It was like 403 00:18:50,080 --> 00:18:52,240 Speaker 1: three or fifty dollar brand new phone, not too shabby. 404 00:18:52,440 --> 00:18:54,360 Speaker 1: Hopefully I'll be holding ont of that one for quite 405 00:18:54,400 --> 00:18:57,119 Speaker 1: a while. But yeah, while I really do like the 406 00:18:57,160 --> 00:18:59,920 Speaker 1: phones that Google is making, there is one thing about 407 00:19:00,040 --> 00:19:03,760 Speaker 1: this new release that really irks me. The top notch 408 00:19:03,840 --> 00:19:06,720 Speaker 1: high dollar phones. This new Google, the Google Pickles six 409 00:19:06,760 --> 00:19:08,560 Speaker 1: pro is like nine bucks, and I think the regular 410 00:19:08,560 --> 00:19:10,440 Speaker 1: Pixel sick is like six hund bucks. But they're getting 411 00:19:10,480 --> 00:19:13,680 Speaker 1: up there in that Apple expensive apples, they sure are. 412 00:19:13,800 --> 00:19:17,840 Speaker 1: But it only comes with three years of updates and 413 00:19:18,000 --> 00:19:20,639 Speaker 1: to me, this is planned obsolescence side. It's worst. Who 414 00:19:20,720 --> 00:19:23,760 Speaker 1: wants to purchase a nine device that you know is 415 00:19:23,760 --> 00:19:25,879 Speaker 1: going to be worthless It's gonna be bricked in just 416 00:19:25,920 --> 00:19:29,560 Speaker 1: a few years time. Yeah, people have understandably been keeping 417 00:19:29,560 --> 00:19:33,400 Speaker 1: their phones longer, Matt. You just finally upgraded from your 418 00:19:33,960 --> 00:19:36,280 Speaker 1: super old iPhone, see like five and a half years 419 00:19:36,320 --> 00:19:39,120 Speaker 1: old something like that. They can't they released that things 420 00:19:39,160 --> 00:19:42,520 Speaker 1: six years ago. That's impressive and that's amazing to get 421 00:19:42,560 --> 00:19:45,520 Speaker 1: that much time out of a phone, out of something 422 00:19:45,520 --> 00:19:48,280 Speaker 1: that you're using every single day of your life basically. 423 00:19:48,640 --> 00:19:51,480 Speaker 1: But the idea that Google is going to make these 424 00:19:51,480 --> 00:19:55,719 Speaker 1: phones worthless after just a few years time is it's 425 00:19:55,720 --> 00:19:59,000 Speaker 1: pretty frustrating. And as a Pixel current Pixel owner who 426 00:19:59,160 --> 00:20:00,920 Speaker 1: might not get as much life as he had hoped 427 00:20:00,920 --> 00:20:03,560 Speaker 1: out of it if those updates stopped coming, I mean, 428 00:20:03,800 --> 00:20:05,600 Speaker 1: I'm not gonna be happy, and it's gonna make me 429 00:20:05,680 --> 00:20:08,280 Speaker 1: reconsider where I get my next phone. I think it's 430 00:20:08,320 --> 00:20:10,480 Speaker 1: just important for anybody to know. It's crucial to check 431 00:20:10,560 --> 00:20:12,879 Speaker 1: and see what the security and the support are going 432 00:20:12,920 --> 00:20:15,800 Speaker 1: to be like for any new phone before you actually 433 00:20:15,960 --> 00:20:19,480 Speaker 1: make the purchase, and that could be the deciding factor 434 00:20:19,600 --> 00:20:21,840 Speaker 1: in which phone you end up getting. Might it actually 435 00:20:21,840 --> 00:20:24,440 Speaker 1: be service longer, but they're just guaranteeing it for three years? 436 00:20:24,480 --> 00:20:25,920 Speaker 1: Is that? What? Is that? What it is? That's that's 437 00:20:25,920 --> 00:20:27,960 Speaker 1: exactly what they say. They're not saying that like at 438 00:20:27,960 --> 00:20:30,560 Speaker 1: three years, we're gonna pull the plug. No, but apparently 439 00:20:30,600 --> 00:20:33,720 Speaker 1: from what world if a droid? Well, what I read 440 00:20:33,720 --> 00:20:37,679 Speaker 1: on the verges website was basically that Google gives us 441 00:20:37,680 --> 00:20:40,720 Speaker 1: state and they don't usually go far beyond that. They're 442 00:20:40,720 --> 00:20:43,480 Speaker 1: not usually hyper generous when it comes to the amount 443 00:20:43,520 --> 00:20:45,960 Speaker 1: of time they continue to send updates. So could it 444 00:20:46,000 --> 00:20:49,040 Speaker 1: be received updates for longer? Yeah, but I'd like to 445 00:20:49,080 --> 00:20:51,480 Speaker 1: see a better guarantee from Google when they're selling you 446 00:20:51,520 --> 00:20:53,879 Speaker 1: a nine device that it's going to be supported for 447 00:20:53,960 --> 00:20:55,919 Speaker 1: I would think a minimum of five years would be 448 00:20:56,000 --> 00:20:57,920 Speaker 1: would be the right thing to do. That's right, And 449 00:20:57,960 --> 00:20:59,160 Speaker 1: I will say, I mean, I'm not going to try 450 00:20:59,160 --> 00:21:03,280 Speaker 1: to make this an Andrew versus Apple uh phone argument here, 451 00:21:03,280 --> 00:21:06,080 Speaker 1: but the ability to have a device that you that 452 00:21:06,200 --> 00:21:09,240 Speaker 1: will likely be able to be supported with security updates 453 00:21:09,240 --> 00:21:11,200 Speaker 1: and just iOS. I mean the big Io S update 454 00:21:11,640 --> 00:21:14,800 Speaker 1: that Apple pushed out last month. Yeah, that was available 455 00:21:14,840 --> 00:21:17,800 Speaker 1: for iPhone six, s iPhone SC the one, you know 456 00:21:17,880 --> 00:21:20,080 Speaker 1: up until now that I recently had and actually read 457 00:21:20,119 --> 00:21:22,199 Speaker 1: on Mac World too, that they did performance studies on 458 00:21:22,240 --> 00:21:24,600 Speaker 1: it because they said, okay, well, certainly it's going to 459 00:21:24,640 --> 00:21:26,520 Speaker 1: slow down a bunch, and they found that even with 460 00:21:26,600 --> 00:21:29,240 Speaker 1: the new Io S push out with the update, it 461 00:21:29,320 --> 00:21:31,480 Speaker 1: did not slow down the phone. And so I found 462 00:21:31,480 --> 00:21:33,480 Speaker 1: that to be impressive that they're not. You know, Apple 463 00:21:33,480 --> 00:21:36,639 Speaker 1: already got accused once of slowing down phones once they 464 00:21:36,680 --> 00:21:38,960 Speaker 1: released the new one, degrading the batteries. Yeah, like that 465 00:21:39,000 --> 00:21:41,080 Speaker 1: whole thing, And so I think they're making sure to 466 00:21:41,440 --> 00:21:44,440 Speaker 1: do right by their customers. Um. And we just talked 467 00:21:44,480 --> 00:21:48,240 Speaker 1: on Wednesday about how buying Apple stock instead of buying say, 468 00:21:48,280 --> 00:21:51,240 Speaker 1: Apple products, would have made you quite a bit of money. 469 00:21:51,480 --> 00:21:53,520 Speaker 1: And so all that to be said, like, we're not 470 00:21:53,560 --> 00:21:57,240 Speaker 1: suggesting that you forego all modern conveniences and only invest 471 00:21:57,280 --> 00:21:59,879 Speaker 1: every single dollar that comes in, but it is a 472 00:22:00,000 --> 00:22:02,360 Speaker 1: definite wake up call for you to slow down your 473 00:22:02,440 --> 00:22:06,240 Speaker 1: upgrade cycle instead of looking to the latest and greatest gadgets, 474 00:22:06,240 --> 00:22:08,359 Speaker 1: to maybe think twice about it and think how it 475 00:22:08,560 --> 00:22:10,480 Speaker 1: is that you could take that money and to put 476 00:22:10,520 --> 00:22:13,159 Speaker 1: it to perhaps better use. And the best example that 477 00:22:13,160 --> 00:22:15,640 Speaker 1: we gave from the Wednesday episode. Remember, instead of buying 478 00:22:15,640 --> 00:22:17,879 Speaker 1: a Macintosh in the mid eighties, if instead you had 479 00:22:17,960 --> 00:22:20,480 Speaker 1: invested that money in Apple, you would be sitting on 480 00:22:20,560 --> 00:22:23,199 Speaker 1: over twenty eight million dollars right now. So this is 481 00:22:23,240 --> 00:22:24,880 Speaker 1: just a quick reminder to make sure that you are 482 00:22:25,080 --> 00:22:27,720 Speaker 1: upgrading your electronics when you need to, not just because 483 00:22:27,760 --> 00:22:29,960 Speaker 1: you can, not just because it's an option, and try 484 00:22:30,000 --> 00:22:34,600 Speaker 1: to prolong that life cycle as long as possible, because yeah, 485 00:22:34,600 --> 00:22:38,280 Speaker 1: I mean, let's the upgrades that you're seeing when it 486 00:22:38,280 --> 00:22:40,679 Speaker 1: comes to new phones, they're pretty incremental. I mean, there 487 00:22:40,720 --> 00:22:43,960 Speaker 1: there have been some strides, but really the difference between 488 00:22:44,000 --> 00:22:47,919 Speaker 1: an iPhone eleven and iPhone is pretty minimal. Same with 489 00:22:48,040 --> 00:22:51,280 Speaker 1: Google Pixel four and Pick Pixel six. So yeah, there's 490 00:22:51,280 --> 00:22:53,479 Speaker 1: some nicer features, but when it comes down to it, 491 00:22:53,800 --> 00:22:57,359 Speaker 1: they're minimal. And what we're talking about tech Matt supply 492 00:22:57,440 --> 00:23:00,639 Speaker 1: chain insanity has also impacted the price that people are 493 00:23:00,640 --> 00:23:03,240 Speaker 1: gonna pay if they want to buy a new TV. 494 00:23:03,720 --> 00:23:05,560 Speaker 1: We're we're getting close to the time of year when 495 00:23:05,600 --> 00:23:08,520 Speaker 1: TV purchases tend to make the most sense price wise 496 00:23:08,560 --> 00:23:11,600 Speaker 1: at least, but we're obviously not in normal times and 497 00:23:11,680 --> 00:23:14,639 Speaker 1: seeing that actually reported that TV prices are at the 498 00:23:14,720 --> 00:23:18,400 Speaker 1: highest they've been in nine years. Folks in the industry 499 00:23:18,800 --> 00:23:21,399 Speaker 1: say that we should be expecting prices that are at 500 00:23:21,440 --> 00:23:24,840 Speaker 1: least a hundred dollars north of what we saw last year. 501 00:23:25,200 --> 00:23:29,080 Speaker 1: And so, yeah, the sub two TV which were used 502 00:23:29,119 --> 00:23:31,160 Speaker 1: to seeing on Black Friday in the last year or two, 503 00:23:31,640 --> 00:23:34,639 Speaker 1: that's not going to happen this year. So similarly to 504 00:23:34,880 --> 00:23:37,639 Speaker 1: waiting on that cell phone upgrade, if your TV is 505 00:23:37,640 --> 00:23:39,919 Speaker 1: still working fine, it makes sense to hold off on 506 00:23:39,920 --> 00:23:42,320 Speaker 1: that purchase for the time being as well, if you 507 00:23:42,640 --> 00:23:45,200 Speaker 1: really really want one. The best time, of course, every 508 00:23:45,240 --> 00:23:47,640 Speaker 1: year is Black Friday or in January as we get 509 00:23:47,640 --> 00:23:50,000 Speaker 1: closer to the Super Bowl. But prices just aren't going 510 00:23:50,040 --> 00:23:53,680 Speaker 1: to be as favorable this year. Hopefully who knows how 511 00:23:53,680 --> 00:23:57,600 Speaker 1: long these supply chain issues last, but hopefully come next year. Uh, 512 00:23:57,720 --> 00:23:59,960 Speaker 1: come this time next year, we're talking about a whole 513 00:24:00,080 --> 00:24:02,840 Speaker 1: lot more normalcy and a lot of things getting back 514 00:24:02,840 --> 00:24:04,919 Speaker 1: to the way they used to be. That's right, man. 515 00:24:04,960 --> 00:24:06,879 Speaker 1: Let's go ahead shift gears for a second here and 516 00:24:06,920 --> 00:24:09,560 Speaker 1: talk about student loans, which present a lot of problems 517 00:24:09,600 --> 00:24:12,560 Speaker 1: for folks, but they are a necessity for many people 518 00:24:12,600 --> 00:24:15,280 Speaker 1: to get a higher education. But that being said, the 519 00:24:15,320 --> 00:24:18,199 Speaker 1: absolute worst form of student loans are going to be 520 00:24:18,440 --> 00:24:21,520 Speaker 1: parent plus loans. They completely suck. And the Wall Street 521 00:24:21,560 --> 00:24:25,000 Speaker 1: Journal reports that Baylor University was steering parents in the 522 00:24:25,040 --> 00:24:28,280 Speaker 1: direction of this, essentially like a ticking time bomb for 523 00:24:28,320 --> 00:24:31,920 Speaker 1: these folks. The president of the university they actually confessed 524 00:24:32,160 --> 00:24:35,280 Speaker 1: that Baylor had been admitting students who couldn't afford to 525 00:24:35,320 --> 00:24:38,040 Speaker 1: go to school there, and then the university was saying, 526 00:24:38,040 --> 00:24:40,359 Speaker 1: but just take all these parent plus loans and it'll 527 00:24:40,359 --> 00:24:43,120 Speaker 1: be fine, and parents are like student loans, I guess 528 00:24:43,119 --> 00:24:44,680 Speaker 1: we'll do it. Student loans can't be all that bad. 529 00:24:44,840 --> 00:24:47,320 Speaker 1: Parent plus loans actually actually are all that bad. That 530 00:24:47,600 --> 00:24:49,560 Speaker 1: is true because of the interest rates. They're super high 531 00:24:49,640 --> 00:24:51,520 Speaker 1: on these steps of types of loans and the fact 532 00:24:51,560 --> 00:24:54,120 Speaker 1: that they don't have any caps is another huge downside 533 00:24:54,119 --> 00:24:56,760 Speaker 1: to parent plus loans. And so many of these parents 534 00:24:56,800 --> 00:25:00,760 Speaker 1: are finding themselves just in a terrible position of taking 535 00:25:00,760 --> 00:25:02,919 Speaker 1: on a ton more debt than they could handle in 536 00:25:03,000 --> 00:25:06,199 Speaker 1: order to just ensure and to you know, have their 537 00:25:06,240 --> 00:25:09,560 Speaker 1: kids go to maybe the university of their dreams. So, 538 00:25:09,960 --> 00:25:12,320 Speaker 1: like we we're covering the story because even though parent 539 00:25:12,359 --> 00:25:15,520 Speaker 1: plus loans exist, um, it doesn't mean that parents should 540 00:25:15,560 --> 00:25:18,560 Speaker 1: use them ever. And like we mentioned last week. We 541 00:25:18,600 --> 00:25:21,080 Speaker 1: want you to prioritize going to a school that doesn't 542 00:25:21,119 --> 00:25:24,080 Speaker 1: cost an arm and a leg, because community colleges are 543 00:25:24,119 --> 00:25:26,480 Speaker 1: actually doing a great job and a lot of folks 544 00:25:26,520 --> 00:25:29,320 Speaker 1: are getting fantastic jobs straight out of college because of 545 00:25:29,359 --> 00:25:31,679 Speaker 1: the ways that community colleges are able to partner with 546 00:25:31,720 --> 00:25:34,600 Speaker 1: a lot of local employers. Yeah, and just because the 547 00:25:34,640 --> 00:25:38,639 Speaker 1: federal government says, hey, here's access to loans, and just 548 00:25:38,760 --> 00:25:42,120 Speaker 1: because a university says you should take on those loans 549 00:25:42,119 --> 00:25:44,160 Speaker 1: so your kids can go to school here, doesn't mean 550 00:25:44,200 --> 00:25:46,440 Speaker 1: you should do it. And those sound both of those 551 00:25:46,480 --> 00:25:49,520 Speaker 1: institutions sound like institutions that you should trust, and they're 552 00:25:49,520 --> 00:25:52,840 Speaker 1: probably speaking your best interest right. Well, no, as it 553 00:25:52,840 --> 00:25:54,800 Speaker 1: turns out, necessarily, and you you really have to watch 554 00:25:54,800 --> 00:25:58,040 Speaker 1: your own back. And no matter how much you want 555 00:25:58,080 --> 00:25:59,760 Speaker 1: your kid to go to that school or your kid 556 00:25:59,800 --> 00:26:02,200 Speaker 1: wants to go to that school, if it means settling 557 00:26:02,240 --> 00:26:06,440 Speaker 1: yourself to hundreds of thousands of dollars worth of debt 558 00:26:06,920 --> 00:26:09,720 Speaker 1: that is going to be nearly impossible or actually impossible 559 00:26:09,760 --> 00:26:12,760 Speaker 1: for you to pay off, it's not worth it. And yeah, 560 00:26:12,800 --> 00:26:15,879 Speaker 1: not to dissuade anyone from getting a college degree, but 561 00:26:16,280 --> 00:26:19,760 Speaker 1: when it comes to avoiding student loans altogether. Matt, there's 562 00:26:19,760 --> 00:26:23,320 Speaker 1: actually new data from Georgetown and it reveals that a 563 00:26:23,359 --> 00:26:26,080 Speaker 1: lot of non college graduates are actually crushing it when 564 00:26:26,080 --> 00:26:29,440 Speaker 1: it comes to their income. They found that more education 565 00:26:29,800 --> 00:26:32,760 Speaker 1: it doesn't always lead to more earning power. A big 566 00:26:32,840 --> 00:26:37,479 Speaker 1: chunk of non college graduates and associates degree holders actually 567 00:26:37,520 --> 00:26:41,440 Speaker 1: making more than workers who hold a bachelor's degree. Yeah, 568 00:26:41,480 --> 00:26:43,159 Speaker 1: well there's another set in there too. Actually, do you 569 00:26:43,200 --> 00:26:46,120 Speaker 1: see the one about bachelor degree holders earning more than 570 00:26:46,520 --> 00:26:50,080 Speaker 1: masters and doctorate degrees. It's crazy, like literally, So the 571 00:26:50,080 --> 00:26:53,000 Speaker 1: stat was a quarter of folks with just a bachelor 572 00:26:53,119 --> 00:26:56,120 Speaker 1: degree are earning more than half of workers who happen 573 00:26:56,160 --> 00:26:58,080 Speaker 1: to have a master's or a doctorate, which is kind 574 00:26:58,080 --> 00:26:59,840 Speaker 1: of mind blowing. It is and is, and it just 575 00:26:59,840 --> 00:27:02,320 Speaker 1: go as the show not that higher education isn't a 576 00:27:02,320 --> 00:27:04,280 Speaker 1: good thing, because when you look at the numbers, overall, 577 00:27:04,440 --> 00:27:07,480 Speaker 1: the higher level of education achieve, the larger the lifetime 578 00:27:07,520 --> 00:27:10,280 Speaker 1: earnings always in general, right, But when it comes down 579 00:27:10,320 --> 00:27:13,399 Speaker 1: to specific individuals, there are a whole lot of people 580 00:27:13,720 --> 00:27:17,000 Speaker 1: out kicking their coverage like that that you wouldn't have assumed. 581 00:27:17,080 --> 00:27:19,600 Speaker 1: But it turns out that you don't have to have 582 00:27:19,640 --> 00:27:22,959 Speaker 1: an expensive degree in order to make good money in 583 00:27:23,000 --> 00:27:24,920 Speaker 1: the United States, and so we would say to check 584 00:27:24,960 --> 00:27:29,879 Speaker 1: out the Occupational Outlook Handbook by the Bureau of Labor Statistics, 585 00:27:30,359 --> 00:27:33,800 Speaker 1: because you can actually search by education level for the 586 00:27:33,920 --> 00:27:36,800 Speaker 1: jobs that are in the highest demand and have the 587 00:27:36,880 --> 00:27:40,240 Speaker 1: highest income possibilities. Skilled trades, we would say don't get 588 00:27:40,320 --> 00:27:42,760 Speaker 1: enough attention. It's something we do try to highlight on 589 00:27:42,800 --> 00:27:45,960 Speaker 1: occasion here on how the money, because there is there's 590 00:27:46,000 --> 00:27:49,760 Speaker 1: a lot of opportunity for people who find themselves just 591 00:27:50,119 --> 00:27:54,480 Speaker 1: less interested in pursuing college for their future and who 592 00:27:54,640 --> 00:27:57,000 Speaker 1: maybe are better working with their hands, who have an 593 00:27:57,040 --> 00:28:00,440 Speaker 1: inclination towards a special skill. Those are the to people 594 00:28:00,440 --> 00:28:02,080 Speaker 1: we we want to say, don't don't try to be 595 00:28:02,280 --> 00:28:04,440 Speaker 1: the square peg trying to fit in the round hole. Uh, 596 00:28:04,640 --> 00:28:06,800 Speaker 1: go in this other direction instead, and you want your 597 00:28:06,840 --> 00:28:10,919 Speaker 1: square peg self be the best square peg you can be. 598 00:28:11,280 --> 00:28:14,440 Speaker 1: And in the end, there's a decent chance if you 599 00:28:14,600 --> 00:28:16,720 Speaker 1: apply yourself that you will make more money than the 600 00:28:16,760 --> 00:28:18,199 Speaker 1: people a lot of the people who did end up 601 00:28:18,240 --> 00:28:19,960 Speaker 1: going to college. When you dig into some of their 602 00:28:20,119 --> 00:28:21,720 Speaker 1: tools that they have there, I was surprised to see 603 00:28:21,720 --> 00:28:24,080 Speaker 1: that there are over forty jobs that we're making at 604 00:28:24,160 --> 00:28:26,800 Speaker 1: least sixty up to eighty thousand dollars every year with 605 00:28:26,880 --> 00:28:28,480 Speaker 1: only a high school degree, and it was just a 606 00:28:28,560 --> 00:28:31,480 Speaker 1: vast variety of different professions, and so I personally felt 607 00:28:31,480 --> 00:28:33,160 Speaker 1: that super encouraging for all the folks out there who 608 00:28:33,320 --> 00:28:35,120 Speaker 1: just may not want to ever go to college. Yeah, 609 00:28:35,160 --> 00:28:37,320 Speaker 1: we just need to normalize that too, because I think 610 00:28:37,359 --> 00:28:39,520 Speaker 1: it's fine for people that want to go to community college. 611 00:28:39,560 --> 00:28:42,600 Speaker 1: For people that you know, want to go to the 612 00:28:42,640 --> 00:28:45,680 Speaker 1: fanciest private school, that's fine. But like each of those things, 613 00:28:45,800 --> 00:28:49,600 Speaker 1: we're all different, and we all have different desires, different hopes, 614 00:28:49,920 --> 00:28:53,200 Speaker 1: different strengths, different weaknesses, and college just it's not one 615 00:28:53,240 --> 00:28:55,360 Speaker 1: size fits all and it and it shouldn't be. There 616 00:28:55,400 --> 00:28:57,440 Speaker 1: are a whole lot of other paths out there for 617 00:28:57,480 --> 00:28:59,760 Speaker 1: people to take, and it's just good to see that 618 00:28:59,840 --> 00:29:01,880 Speaker 1: the ones that don't involve college, a lot of those 619 00:29:01,880 --> 00:29:04,400 Speaker 1: people are succeeding to that's rights, and that's gonna be 620 00:29:04,400 --> 00:29:06,360 Speaker 1: it for today's episode. For our Friday flight. We will 621 00:29:06,360 --> 00:29:08,560 Speaker 1: have a fresh episode for you on Monday where we're 622 00:29:08,600 --> 00:29:12,360 Speaker 1: gonna be talking with Liz Frasier about how to go 623 00:29:12,400 --> 00:29:15,800 Speaker 1: about raising financially savvy children. You can look forward to 624 00:29:15,880 --> 00:29:18,200 Speaker 1: that one. We hope everyone has a great weekend and Joel. 625 00:29:18,320 --> 00:29:21,480 Speaker 1: Until next time. Best friends Out, Best Friends Out,