1 00:00:00,120 --> 00:00:02,840 Speaker 1: Welcome to a head of Money. I'm Joel, I'm Matt, 2 00:00:02,880 --> 00:00:06,560 Speaker 1: and today we're talking t swift, tourism, prime perks, and 3 00:00:06,680 --> 00:00:29,080 Speaker 1: Apple breaks the bank. Who is Apple. 4 00:00:28,840 --> 00:00:31,560 Speaker 2: Breaking Joel's bank? That's the big question. Are you finally 5 00:00:31,600 --> 00:00:36,040 Speaker 2: surrendering and to the Apple ecosystem, not the dark side, 6 00:00:36,080 --> 00:00:38,800 Speaker 2: the light side and getting yourself an iPhone? That's the 7 00:00:38,880 --> 00:00:42,000 Speaker 2: question everybody wants to know. Not yet, Maybe someday or 8 00:00:42,040 --> 00:00:45,120 Speaker 2: maybe we're talking about the new Vision pro do you 9 00:00:45,120 --> 00:00:47,960 Speaker 2: start paying anymore? Maybe maybe I can afford it. We 10 00:00:48,040 --> 00:00:51,519 Speaker 2: actually will be talking about something else that Apple has 11 00:00:51,560 --> 00:00:53,720 Speaker 2: been involved with, but this is our Friday flight. We're 12 00:00:53,760 --> 00:00:55,920 Speaker 2: going to talk about the top stories that we think 13 00:00:55,960 --> 00:00:58,960 Speaker 2: you need to be paying attention to. And before we 14 00:00:58,960 --> 00:01:00,920 Speaker 2: get to the real quick Joel, So was it? Was it? 15 00:01:01,000 --> 00:01:03,200 Speaker 1: Last week we were talking about movie Pass, how it's 16 00:01:03,800 --> 00:01:06,560 Speaker 1: risen from the ashes, like like the Phoenix, and I 17 00:01:06,600 --> 00:01:08,480 Speaker 1: was kind of hating on it a little bit because 18 00:01:08,640 --> 00:01:11,240 Speaker 1: even the ten dollars a month offering, which seems reasonable. 19 00:01:11,040 --> 00:01:14,679 Speaker 2: It seems reasonable, but just something about the movie habitual 20 00:01:15,240 --> 00:01:19,080 Speaker 2: attending of going to see a movie within a movie theater, 21 00:01:19,280 --> 00:01:20,760 Speaker 2: I don't know. Something about that kind of rubs me 22 00:01:20,760 --> 00:01:23,720 Speaker 2: the wrong way. That being said, I'm not against all movies. 23 00:01:23,760 --> 00:01:25,679 Speaker 1: Like I just claimed, I would like to go see 24 00:01:25,680 --> 00:01:28,440 Speaker 1: the West Anderson movie, which one in Ashroid City, and 25 00:01:28,480 --> 00:01:30,600 Speaker 1: I would also liked it. I probably won't seem in 26 00:01:30,640 --> 00:01:32,480 Speaker 1: theaters just because it's been a lot. I don't see 27 00:01:32,920 --> 00:01:37,640 Speaker 1: see what is it Oppenheimer? The new Nolan flick about 28 00:01:37,640 --> 00:01:40,520 Speaker 1: the atomic bomb? Also, you know, like the big screen 29 00:01:40,720 --> 00:01:41,720 Speaker 1: kind of movies like that. 30 00:01:41,800 --> 00:01:44,000 Speaker 2: The new Scorsese one looks great too. Oh my gosh, 31 00:01:44,040 --> 00:01:46,800 Speaker 2: the flowers. What's it called, The Killers of the Flower Moon. 32 00:01:46,800 --> 00:01:49,040 Speaker 1: I think, yes, yeah, that looks we're not movie credits, 33 00:01:49,200 --> 00:01:51,040 Speaker 1: we don't even know what we're talking about, but we 34 00:01:51,280 --> 00:01:52,480 Speaker 1: see trailers. 35 00:01:52,040 --> 00:01:54,080 Speaker 2: And those do look interesting. No, I wanted to mention 36 00:01:54,160 --> 00:01:57,040 Speaker 2: so AMC specifically there. They've got this offering and they're 37 00:01:57,040 --> 00:01:59,800 Speaker 2: calling it summer Summer Movie Camp or something like that. 38 00:02:00,360 --> 00:02:02,960 Speaker 2: But on Wednesdays you can go and see a movie 39 00:02:03,160 --> 00:02:06,360 Speaker 2: at select theaters. Of course, obviously it's not gonna be 40 00:02:06,400 --> 00:02:08,320 Speaker 2: some blanket thing, but a select theaters you can go 41 00:02:08,320 --> 00:02:10,360 Speaker 2: see movies for three bucks. Not bad. 42 00:02:10,600 --> 00:02:12,799 Speaker 1: That's so that is a real deal, right, Your last 43 00:02:12,800 --> 00:02:16,000 Speaker 1: time starts families in families with kids, right, yes, yeah, yeah, yeah, 44 00:02:16,040 --> 00:02:18,520 Speaker 1: And so like who's who's neat truly needs to go 45 00:02:18,560 --> 00:02:21,560 Speaker 1: and see thirty movies in one month at a movie theater? 46 00:02:21,760 --> 00:02:24,799 Speaker 1: Like that just sounds unhealthy, But the ability to I'm 47 00:02:24,840 --> 00:02:26,600 Speaker 1: all about expose my kids. 48 00:02:26,440 --> 00:02:28,720 Speaker 2: To different experiences and for them to learn things. And 49 00:02:28,800 --> 00:02:31,840 Speaker 2: if they never remember having step foot in a movie theater, 50 00:02:32,080 --> 00:02:33,799 Speaker 2: I feel like they're kind of missing out right bad 51 00:02:33,840 --> 00:02:35,880 Speaker 2: dad at that point, Yeah, exactly, like they're gonna come 52 00:02:35,880 --> 00:02:39,280 Speaker 2: for me. Yeah, And so I can totally get behind this. 53 00:02:39,440 --> 00:02:41,480 Speaker 2: And at some point in the summer, I could see 54 00:02:41,520 --> 00:02:44,639 Speaker 2: our family going to take advantage of a three dollars ticket, Yeah, 55 00:02:44,760 --> 00:02:47,440 Speaker 2: in order to watch a movie on the big screen. Well, 56 00:02:47,440 --> 00:02:48,919 Speaker 2: we always say the price matters, like what kind of 57 00:02:48,960 --> 00:02:50,480 Speaker 2: value are you getting for? And when you pay full 58 00:02:50,520 --> 00:02:52,799 Speaker 2: price for a movie ticket, you're talking fifteen sixteen bucks 59 00:02:52,960 --> 00:02:55,240 Speaker 2: if your mind concessions, blah blah blah. It's expensive. 60 00:02:55,280 --> 00:02:58,239 Speaker 1: But that's why I think the movie pass three three 61 00:02:58,280 --> 00:03:00,200 Speaker 1: movie a month deal for people who like movie. 62 00:03:00,160 --> 00:03:01,960 Speaker 2: If you're really into it can be We're not gonna hate. 63 00:03:01,760 --> 00:03:04,720 Speaker 1: But the three dollars three dollars AMC Summer movie Camp 64 00:03:04,760 --> 00:03:05,600 Speaker 1: is kind of cool too. 65 00:03:05,680 --> 00:03:07,760 Speaker 2: Yeah. Well, actually, it's the first story when we talk 66 00:03:07,760 --> 00:03:10,160 Speaker 2: about it does come down to the financial trade offs 67 00:03:10,160 --> 00:03:13,000 Speaker 2: between what you're experiencing in the form of entertainment and 68 00:03:13,000 --> 00:03:15,440 Speaker 2: which you're willing to pay. Let's get to it is 69 00:03:15,480 --> 00:03:19,919 Speaker 2: the Tea Swift, Iism tourism thing, and basically everybody knows 70 00:03:19,919 --> 00:03:23,040 Speaker 2: that being flexible and getting creative can help you save money. Right. 71 00:03:23,120 --> 00:03:24,880 Speaker 1: Of course, the more flexible you can meet we talk 72 00:03:24,880 --> 00:03:27,240 Speaker 1: about that with travel, like on your dates, on your destination, 73 00:03:27,320 --> 00:03:28,959 Speaker 1: on where you're flying from, all that kind of stuff, 74 00:03:29,040 --> 00:03:30,960 Speaker 1: the more you're gonna be able to save. And so 75 00:03:31,000 --> 00:03:33,720 Speaker 1: we have a suggestion that we have for all you 76 00:03:33,760 --> 00:03:35,920 Speaker 1: Taylor Swift fans based on a piece we saw in 77 00:03:35,960 --> 00:03:39,600 Speaker 1: Bloomberg and basically they were saying, if you really want 78 00:03:39,640 --> 00:03:42,040 Speaker 1: to see Taylor Swift perform, and you can't afford tickets 79 00:03:42,080 --> 00:03:44,640 Speaker 1: on the resale market, because let's be honest, who can. 80 00:03:45,120 --> 00:03:48,160 Speaker 1: My friend in Colorado was saying that the nosebleed teats 81 00:03:48,160 --> 00:03:49,680 Speaker 1: where you can't even see Taylor going for like twelve 82 00:03:49,720 --> 00:03:52,520 Speaker 1: hundred bucks a pop on resale, nobody's raising nobody wants 83 00:03:52,520 --> 00:03:54,960 Speaker 1: to sell those tickets, and so maybe the best way 84 00:03:55,000 --> 00:03:58,520 Speaker 1: to go see Taylor without spending too much money is 85 00:03:58,800 --> 00:04:01,640 Speaker 1: to fly to Argentina because apparently tickets, yeah, are only 86 00:04:01,680 --> 00:04:03,840 Speaker 1: one hundred and fifty bucks. And instead of seeing Taylor 87 00:04:03,840 --> 00:04:06,080 Speaker 1: Swift in your hometown, maybe you buy a plane ticket. 88 00:04:06,160 --> 00:04:09,240 Speaker 1: You get the much cheaper ticket to the concert, and 89 00:04:09,560 --> 00:04:11,320 Speaker 1: you get a free trip to Argentina out of it, 90 00:04:11,360 --> 00:04:14,320 Speaker 1: almost essentially like think about a bit like that. So yeah, 91 00:04:14,320 --> 00:04:16,520 Speaker 1: I don't know, hop on a plane, eat the best 92 00:04:16,520 --> 00:04:18,400 Speaker 1: stake of your life in a place like Buenos Aires 93 00:04:18,440 --> 00:04:20,520 Speaker 1: and see Taylor there. It's just it's an idea, just 94 00:04:20,520 --> 00:04:21,279 Speaker 1: floating it out there. 95 00:04:21,839 --> 00:04:24,920 Speaker 2: Well, something else you could try. Check out the Twitter 96 00:04:24,960 --> 00:04:29,720 Speaker 2: account eras tour Resale. The journal they profiled these three 97 00:04:30,279 --> 00:04:32,839 Speaker 2: Swifties that they still call them sell Swifties things, says, 98 00:04:33,360 --> 00:04:36,240 Speaker 2: but they're trying to connect legit fans who are selling 99 00:04:36,240 --> 00:04:40,200 Speaker 2: tickets to legit fans who want them, and uh yeah, 100 00:04:40,279 --> 00:04:42,240 Speaker 2: these young ladies are helping others for free. I think 101 00:04:42,279 --> 00:04:44,480 Speaker 2: it's pretty cool. So this actually makes me think of 102 00:04:44,480 --> 00:04:48,640 Speaker 2: another recent story. I've only loosely followed the whole messy 103 00:04:49,520 --> 00:04:52,600 Speaker 2: signing whatnot? Right, Had I thought about it a little 104 00:04:52,600 --> 00:04:54,160 Speaker 2: bit more and had we been talking about it more, 105 00:04:54,200 --> 00:04:56,719 Speaker 2: I think maybe both of US would have considered buying 106 00:04:56,720 --> 00:05:00,760 Speaker 2: a ticket to the Atlanta VERSUS Miami match, maybe prior 107 00:05:00,880 --> 00:05:03,120 Speaker 2: to the fact that this was announced, but of course 108 00:05:03,160 --> 00:05:05,640 Speaker 2: ticket prices went up, did not even I don't know why. 109 00:05:06,240 --> 00:05:09,479 Speaker 2: We're way behind the curve on this one. 110 00:05:09,640 --> 00:05:12,680 Speaker 1: I have slightly texted multiple people, Hey, do you want 111 00:05:12,720 --> 00:05:14,800 Speaker 1: a friend to go with you to the September sixteenth game? 112 00:05:15,320 --> 00:05:17,800 Speaker 2: And so what that means? Well, the good news is Atlanta. 113 00:05:17,960 --> 00:05:21,240 Speaker 2: I mean they opened up the upper level and Ticketmasters, 114 00:05:21,320 --> 00:05:23,159 Speaker 2: you know, they were selling tickets, but even still those 115 00:05:23,160 --> 00:05:26,960 Speaker 2: tickets were for significantly more than what they would normally 116 00:05:26,960 --> 00:05:30,520 Speaker 2: go for. It's the balance between supply and demand. And 117 00:05:30,680 --> 00:05:33,440 Speaker 2: I was talking with another friend recently and he was 118 00:05:33,480 --> 00:05:37,159 Speaker 2: calling it criminal. What it is not only that Ticketmaster's charging, 119 00:05:37,200 --> 00:05:39,520 Speaker 2: but what other folks are charging. But yeah, like, what 120 00:05:39,560 --> 00:05:41,960 Speaker 2: are your thoughts on that. Is it supply and demand 121 00:05:42,160 --> 00:05:45,000 Speaker 2: or is it in fact criminal that folks are charging. 122 00:05:45,040 --> 00:05:47,200 Speaker 1: We talked about that early on in the pandemic kind 123 00:05:47,240 --> 00:05:50,039 Speaker 1: of right, and how some people were gouging for prices 124 00:05:50,080 --> 00:05:52,600 Speaker 1: on certain things and other grocery stores. They would rather 125 00:05:52,680 --> 00:05:54,480 Speaker 1: run out of stuff than run the price up, because 126 00:05:54,480 --> 00:05:57,200 Speaker 1: you don't want to long term annoy customers, and that's 127 00:05:57,200 --> 00:05:59,599 Speaker 1: a difficult needle to thread for our businesses, right, But 128 00:06:00,080 --> 00:06:02,880 Speaker 1: I do think it makes sense, like for the Benz 129 00:06:02,960 --> 00:06:05,040 Speaker 1: right here in Atlanta, to open up those extra seats 130 00:06:05,400 --> 00:06:07,680 Speaker 1: and charge more than the otherwise would. Otherwise, who's going 131 00:06:07,760 --> 00:06:09,640 Speaker 1: to make the profit? It sees scourers? 132 00:06:09,720 --> 00:06:12,400 Speaker 2: Yeah, yes, And it's just a way to regulate the 133 00:06:12,480 --> 00:06:15,960 Speaker 2: supply because who doesn't want to go see the greatest 134 00:06:15,960 --> 00:06:20,920 Speaker 2: soccer player of all time whip Atlanta's tail? Yeah, when 135 00:06:20,920 --> 00:06:24,000 Speaker 2: they come to Atlanta. And so if it was available 136 00:06:24,040 --> 00:06:26,000 Speaker 2: at the regular price, of course, every I mean, the 137 00:06:26,839 --> 00:06:29,280 Speaker 2: tickets are already gone to be honest. But the fact is, 138 00:06:29,360 --> 00:06:31,560 Speaker 2: I don't know. In my mind, it's just it's a 139 00:06:31,720 --> 00:06:33,599 Speaker 2: It's the sign of a healthy market, I guess, is 140 00:06:33,600 --> 00:06:34,400 Speaker 2: what I'm trying to say. 141 00:06:34,440 --> 00:06:36,640 Speaker 1: Okay, speaking to healthy markets, let's talk about the new 142 00:06:36,680 --> 00:06:39,160 Speaker 1: Apple Vision pro announcement that happened this. 143 00:06:39,200 --> 00:06:41,040 Speaker 2: Week and blind a Man. We'll see if they sell. 144 00:06:41,160 --> 00:06:43,320 Speaker 1: Yeah, there might be a lot of those like Skigoggle 145 00:06:43,320 --> 00:06:45,440 Speaker 1: looking things sitting on the shelves after a while, because 146 00:06:45,640 --> 00:06:49,560 Speaker 1: thirty five hundred bucks a pop is steep for this 147 00:06:49,560 --> 00:06:53,640 Speaker 1: this fancy new virtual reality sort of headwear and I 148 00:06:53,680 --> 00:06:55,719 Speaker 1: thought Ready Player one was a really good book, really 149 00:06:55,720 --> 00:06:59,040 Speaker 1: good movie. I'm just not looking to untether myself from 150 00:06:59,240 --> 00:07:02,359 Speaker 1: reality to that. So they did lean more into the 151 00:07:02,640 --> 00:07:06,240 Speaker 1: augmented reality side of it. Yeah, the goggles or the 152 00:07:06,520 --> 00:07:08,719 Speaker 1: Vision Pro, which I like in my mind, that's the 153 00:07:08,720 --> 00:07:12,160 Speaker 1: best case scenario use is the ability to augment reality, 154 00:07:12,280 --> 00:07:15,360 Speaker 1: not totally replace it with a virtual world. So I'm 155 00:07:15,360 --> 00:07:17,600 Speaker 1: not saying that like, I don't see this technology going somewhere. 156 00:07:17,840 --> 00:07:19,440 Speaker 1: I think it could get somewhere. Yeah, I think. But 157 00:07:19,760 --> 00:07:21,320 Speaker 1: my other thought is maybe you don't want to be 158 00:07:21,320 --> 00:07:23,880 Speaker 1: the first person to adopt this thing for a couple 159 00:07:23,880 --> 00:07:26,520 Speaker 1: of reasons. One, the price is always higher with the 160 00:07:26,520 --> 00:07:30,040 Speaker 1: first gen. Right, more competition, more time, more iteration. You're 161 00:07:30,080 --> 00:07:32,080 Speaker 1: going to get better technology, and you're going to get 162 00:07:32,360 --> 00:07:35,040 Speaker 1: better pricing, maybe a couple of years down the road. 163 00:07:35,120 --> 00:07:37,120 Speaker 2: So yeah, like the instead of vision Pro, how about 164 00:07:37,120 --> 00:07:40,880 Speaker 2: like the vision see whatever. Like that discount was exactly 165 00:07:40,960 --> 00:07:43,720 Speaker 2: Vision Color. Right, you just get like the yellow. 166 00:07:43,520 --> 00:07:45,200 Speaker 1: Version, and you might still get you know, ninety percent 167 00:07:45,200 --> 00:07:47,440 Speaker 1: of the benefits, but at like fifty percent of the cost. 168 00:07:47,560 --> 00:07:49,200 Speaker 1: We'll see where this product goes in the future. I 169 00:07:49,200 --> 00:07:52,400 Speaker 1: do think future iterations could be big But let's talk 170 00:07:52,440 --> 00:07:55,000 Speaker 1: about another Apple offering, and that's their their bank partnership 171 00:07:55,000 --> 00:07:57,360 Speaker 1: with Goldman Sachs. We've talked about how it's kind of cool, right, 172 00:07:57,400 --> 00:07:59,280 Speaker 1: there's a lot of people who are going to move 173 00:07:59,320 --> 00:08:01,880 Speaker 1: over from their big banks just because, Hey, if I 174 00:08:01,880 --> 00:08:04,720 Speaker 1: can bank with Apple, I've already got that app on 175 00:08:04,720 --> 00:08:08,160 Speaker 1: my phone and I already like everything Apple does. And 176 00:08:08,520 --> 00:08:10,400 Speaker 1: they were paying a much healthier rate of interest at 177 00:08:10,400 --> 00:08:13,040 Speaker 1: like four point one five percent. But The Wall Street 178 00:08:13,200 --> 00:08:16,320 Speaker 1: Journal published an article last Thursday detailing some of the 179 00:08:16,360 --> 00:08:19,760 Speaker 1: issues that Apple bank customers are experiencing, and really, when 180 00:08:19,760 --> 00:08:21,720 Speaker 1: you think about it, one of the most egregious issues 181 00:08:21,720 --> 00:08:23,559 Speaker 1: you could have with the bank is them not letting 182 00:08:23,560 --> 00:08:25,800 Speaker 1: you have your money, right, Like, that's the number one 183 00:08:25,840 --> 00:08:27,280 Speaker 1: rule of banking is like, let me have my money 184 00:08:27,280 --> 00:08:28,720 Speaker 1: when I need it. And I'm not sure if it's 185 00:08:28,720 --> 00:08:31,760 Speaker 1: a glitterer, if it's intentional, but Apple is making it 186 00:08:31,760 --> 00:08:34,920 Speaker 1: difficult for people to transfer their money from their Apple 187 00:08:34,920 --> 00:08:38,800 Speaker 1: account to another bank via ACCH. They've been these transactions 188 00:08:38,840 --> 00:08:41,480 Speaker 1: getting hung up in limbo for weeks on end, frustrating 189 00:08:41,480 --> 00:08:44,200 Speaker 1: customers understandably, and so just a warning to all you 190 00:08:44,559 --> 00:08:47,280 Speaker 1: Apple bank users or want to be Apple Bank users. 191 00:08:47,360 --> 00:08:49,960 Speaker 2: Yeah. Yeah, I mean when they first launched this product, 192 00:08:50,120 --> 00:08:53,120 Speaker 2: I think we took a mostly positive take on it, 193 00:08:53,160 --> 00:08:55,800 Speaker 2: you know, like it's not necessarily groundbreaking, but chances are 194 00:08:55,840 --> 00:08:57,520 Speaker 2: it will get a lot of folks to move their 195 00:08:57,559 --> 00:09:00,760 Speaker 2: money away from the big banks who are paying next 196 00:09:00,760 --> 00:09:02,120 Speaker 2: to nothing on your savings. 197 00:09:02,160 --> 00:09:03,880 Speaker 1: But zero point one to four point one five is 198 00:09:03,880 --> 00:09:05,199 Speaker 1: a nice wing exactly. 199 00:09:05,320 --> 00:09:07,000 Speaker 2: Yeah. But of of course Apple they need to make 200 00:09:07,000 --> 00:09:09,080 Speaker 2: sure that they're treating their customer as well, or specifically 201 00:09:09,120 --> 00:09:11,959 Speaker 2: Goldmen Sacks, because they are the actual bank that Apple 202 00:09:12,000 --> 00:09:13,920 Speaker 2: has partnered with, and they need to make sure that 203 00:09:14,000 --> 00:09:16,480 Speaker 2: they are treating folks well. And I will say, like 204 00:09:16,520 --> 00:09:18,960 Speaker 2: I'll kind of defend Apple a little bit because there's 205 00:09:19,000 --> 00:09:23,040 Speaker 2: folks in the antime money laundring industry or whatever, and 206 00:09:23,040 --> 00:09:26,200 Speaker 2: they say that all these accounts basically they're new accounts, right, 207 00:09:26,280 --> 00:09:28,000 Speaker 2: And when you open a new account and then all 208 00:09:28,000 --> 00:09:29,640 Speaker 2: of a sudden, you're dumping a ton of money into 209 00:09:29,640 --> 00:09:32,200 Speaker 2: that account, and you're also then trying to then push 210 00:09:32,200 --> 00:09:34,160 Speaker 2: it to, you know, somewhere else, like an investment fund 211 00:09:34,520 --> 00:09:37,520 Speaker 2: that raises red flags which then slows down the processes. 212 00:09:37,600 --> 00:09:39,800 Speaker 2: Have to make sure that you're not truly trying to 213 00:09:39,840 --> 00:09:41,720 Speaker 2: launder money, which is exactly what this looks like when 214 00:09:41,760 --> 00:09:43,600 Speaker 2: you open a new account and d up one hundred 215 00:09:43,679 --> 00:09:46,840 Speaker 2: gs into this account, like one of the folks they 216 00:09:46,880 --> 00:09:50,320 Speaker 2: profiled who was using that money to purchase or to 217 00:09:50,360 --> 00:09:52,120 Speaker 2: put towards a home, like as a down payment. And 218 00:09:52,160 --> 00:09:55,520 Speaker 2: so I certainly gave sympathize with that. Yeah, oh my gosh, 219 00:09:55,559 --> 00:09:57,120 Speaker 2: Like this one guy like he had to borrow a 220 00:09:57,160 --> 00:09:58,840 Speaker 2: ton of money from his mom because he could didn't 221 00:09:58,840 --> 00:10:00,600 Speaker 2: have access to his money for that on payment that 222 00:10:00,600 --> 00:10:04,040 Speaker 2: he needed. And so I don't think it's necessarily malicious, 223 00:10:04,040 --> 00:10:07,640 Speaker 2: but maybe they Apple does tend to break things when 224 00:10:07,880 --> 00:10:10,600 Speaker 2: they launch things, right, like they tend to disrupt industries, 225 00:10:10,720 --> 00:10:13,360 Speaker 2: and I think in this case, they maybe should have 226 00:10:13,400 --> 00:10:15,920 Speaker 2: prepared a little bit more. They should have prepared Goldman 227 00:10:15,960 --> 00:10:18,240 Speaker 2: Sachs in particular, to make sure that they had the 228 00:10:18,240 --> 00:10:20,720 Speaker 2: support on hand to be able to resolve any of 229 00:10:20,720 --> 00:10:22,480 Speaker 2: these issues at the end of the day. I think 230 00:10:22,520 --> 00:10:24,640 Speaker 2: that's kind of the crux of the issue. Yeah, for sure. 231 00:10:24,880 --> 00:10:28,000 Speaker 1: On the note though, matt of account transfers from all banks, 232 00:10:28,040 --> 00:10:29,760 Speaker 1: that it might start to happen a whole lot more 233 00:10:29,840 --> 00:10:34,079 Speaker 1: quickly because there's something new called fed now, which most 234 00:10:34,120 --> 00:10:36,160 Speaker 1: people out there have probably never heard of. I just 235 00:10:36,240 --> 00:10:39,040 Speaker 1: recently found out about this thing, and it's the Federal 236 00:10:39,080 --> 00:10:42,120 Speaker 1: Reserve's new instant payment system, which is going to allow 237 00:10:42,160 --> 00:10:45,200 Speaker 1: people to transfer money transfer funds from bank to bank 238 00:10:45,360 --> 00:10:49,200 Speaker 1: almost instantaneously, So no more ach being cleared in batches, 239 00:10:49,280 --> 00:10:52,280 Speaker 1: taking multiple days, three business days for your money to 240 00:10:52,280 --> 00:10:54,120 Speaker 1: get from one place to the other, kind of just 241 00:10:54,200 --> 00:10:56,280 Speaker 1: kind of up in the air in the ether for 242 00:10:56,320 --> 00:10:57,319 Speaker 1: an extended period of time. 243 00:10:57,360 --> 00:10:59,640 Speaker 2: Feels so incredibly antiquated. It does. It does. 244 00:10:59,800 --> 00:11:02,200 Speaker 1: So now you hit transfer and boom, the money's going 245 00:11:02,280 --> 00:11:06,720 Speaker 1: to be there where you're transferred to almost immediately, even 246 00:11:06,800 --> 00:11:09,640 Speaker 1: during evenings, weekends, holidays when banks are closed, that kind 247 00:11:09,640 --> 00:11:12,520 Speaker 1: of stuff. Some banks already testing this out, And like, 248 00:11:12,559 --> 00:11:15,920 Speaker 1: I deposited a check into my Discover account yesterday and 249 00:11:15,960 --> 00:11:19,080 Speaker 1: the money was available almost immediately same day, which is 250 00:11:19,200 --> 00:11:21,000 Speaker 1: rare when you're depositing a check. So I'm like, I 251 00:11:21,080 --> 00:11:24,199 Speaker 1: feel like a half part of the pilot program. I mean, 252 00:11:24,240 --> 00:11:26,400 Speaker 1: they must be, because I don't know. I haven't dug 253 00:11:26,400 --> 00:11:28,440 Speaker 1: into the details, but there are some people testing it, 254 00:11:28,679 --> 00:11:31,560 Speaker 1: so you, like me, you might have noticed reduced lag 255 00:11:31,600 --> 00:11:34,520 Speaker 1: times already, which is great, but the big rollout is 256 00:11:34,520 --> 00:11:37,080 Speaker 1: supposed to happen next month where hundreds of banks and 257 00:11:37,080 --> 00:11:39,839 Speaker 1: credit unions kind of get on board and so man 258 00:11:39,880 --> 00:11:42,800 Speaker 1: hopefully soon the future has come to all of all 259 00:11:42,840 --> 00:11:45,720 Speaker 1: of our phones and all of our banking because it's yeah, 260 00:11:45,760 --> 00:11:47,280 Speaker 1: it's gonna be really nice to not have to wait 261 00:11:47,320 --> 00:11:50,080 Speaker 1: four days to see the money from a check deposit 262 00:11:50,280 --> 00:11:52,240 Speaker 1: show up in your account, or to see money that 263 00:11:52,280 --> 00:11:55,480 Speaker 1: you transfer from one institution to another finally hit hit 264 00:11:55,520 --> 00:11:56,920 Speaker 1: the account that you're sending it to. 265 00:11:56,920 --> 00:12:00,240 Speaker 2: Totally. Yeah. Hopefully this will actually become something that's idly 266 00:12:00,240 --> 00:12:02,560 Speaker 2: adopted because it's not like an automatic thing because the banks, 267 00:12:02,600 --> 00:12:04,600 Speaker 2: it's up to the individual banks whether or not they 268 00:12:05,160 --> 00:12:08,240 Speaker 2: adopt or decide to offer this product that the FED 269 00:12:08,360 --> 00:12:10,520 Speaker 2: is offering them. It's not something we can do directly. 270 00:12:10,600 --> 00:12:13,000 Speaker 2: But hopefully all of our banks will say, oh, yeah, 271 00:12:13,000 --> 00:12:14,200 Speaker 2: this is something that people want. 272 00:12:14,360 --> 00:12:16,520 Speaker 1: They think it's going to be a competitive advantage if yes, 273 00:12:16,600 --> 00:12:19,000 Speaker 1: and any bank that doesn't do it absolutely gonna be 274 00:12:19,040 --> 00:12:19,600 Speaker 1: left in the dust. 275 00:12:19,640 --> 00:12:23,000 Speaker 2: Absolutely. Yeah, let's talk about how much of a ripoff 276 00:12:23,120 --> 00:12:25,800 Speaker 2: food delivery apps are because the Washington Post they just 277 00:12:25,880 --> 00:12:29,520 Speaker 2: ran the numbers and in all three of the major apps, 278 00:12:29,880 --> 00:12:33,120 Speaker 2: the customer total without tip averaged about six dollars more 279 00:12:33,520 --> 00:12:37,320 Speaker 2: than an in restaurant order. And again this is before tip, 280 00:12:37,760 --> 00:12:41,120 Speaker 2: so you're just I mean, I know you're paying more 281 00:12:41,320 --> 00:12:44,000 Speaker 2: for the service, you know that's being provided here, but 282 00:12:44,480 --> 00:12:48,000 Speaker 2: I hate the idea of paying more than you actually 283 00:12:48,080 --> 00:12:50,000 Speaker 2: have to in order to get the food. And this 284 00:12:50,080 --> 00:12:51,959 Speaker 2: is actually I mean, this is just on small orders 285 00:12:52,000 --> 00:12:54,240 Speaker 2: that are in the like the twenty to thirty dollars range. 286 00:12:54,360 --> 00:12:56,160 Speaker 2: So I'm talking about like a thirty percent increase, Like 287 00:12:56,200 --> 00:12:58,040 Speaker 2: six dollars sounds small, but what you're talking about on 288 00:12:58,080 --> 00:13:00,000 Speaker 2: an order of twenty bucks, just like when you hear like, oh, 289 00:13:00,000 --> 00:13:02,000 Speaker 2: it's just a one dollar fee, but it's like, well, 290 00:13:02,040 --> 00:13:04,600 Speaker 2: how much of a service are you actually offering? An 291 00:13:04,760 --> 00:13:08,719 Speaker 2: annual percentage rate terms, that is massive. It's seven dollars order, 292 00:13:08,760 --> 00:13:10,760 Speaker 2: that's a that's a big deal. Yeah. There was one 293 00:13:10,840 --> 00:13:13,240 Speaker 2: restaurant owner who was interviewed for the story. He discussed 294 00:13:13,360 --> 00:13:16,000 Speaker 2: just how difficult and costly it can be to sell 295 00:13:16,080 --> 00:13:18,959 Speaker 2: food on the apps because they take such a big 296 00:13:19,000 --> 00:13:19,400 Speaker 2: piece of. 297 00:13:19,320 --> 00:13:22,200 Speaker 1: The pie fun intended. Yeah, it was a pie shop. 298 00:13:22,520 --> 00:13:24,600 Speaker 2: Uh, you know, by the way, Kate and I were 299 00:13:24,600 --> 00:13:26,400 Speaker 2: on our date night the other night, and we've talked 300 00:13:26,400 --> 00:13:28,680 Speaker 2: about the meat pies in Scotland. We've got a there's 301 00:13:28,720 --> 00:13:32,079 Speaker 2: a pie shop nearby, a multiple pi. We haven't we 302 00:13:32,120 --> 00:13:35,280 Speaker 2: haven't gone there to get the hand handheld savory meat 303 00:13:35,320 --> 00:13:37,960 Speaker 2: pies and verdict, well, no, we didn't go there. We 304 00:13:38,000 --> 00:13:39,760 Speaker 2: just drove past it and I told her. I was like, 305 00:13:39,800 --> 00:13:41,520 Speaker 2: why haven't you an I gone there because we loved 306 00:13:41,559 --> 00:13:45,679 Speaker 2: him what we like. But that restaurant owner, he specifically said, 307 00:13:45,800 --> 00:13:48,679 Speaker 2: if the delivery companies didn't exist, customers would go back 308 00:13:48,679 --> 00:13:50,959 Speaker 2: to ordering straight from me over the phone or from 309 00:13:51,000 --> 00:13:53,120 Speaker 2: my website, and I would actually be able to make money. 310 00:13:53,280 --> 00:13:55,800 Speaker 2: And so we mentioned this because it's just in the 311 00:13:55,840 --> 00:13:59,520 Speaker 2: best interests of not only your favorite restaurant, your favorite 312 00:13:59,520 --> 00:14:01,559 Speaker 2: food spot, but it's also in the best interest of 313 00:14:01,600 --> 00:14:03,120 Speaker 2: your own personal finances to. 314 00:14:03,320 --> 00:14:06,680 Speaker 1: Go with this route as opposed to these app middlemen. 315 00:14:06,760 --> 00:14:08,560 Speaker 1: Please yes, yep, I don't get it. And if you 316 00:14:08,679 --> 00:14:11,319 Speaker 1: just can't stand the stomach driving to pick up that food, 317 00:14:11,480 --> 00:14:13,960 Speaker 1: to save yourself money, at least out for a credit 318 00:14:14,040 --> 00:14:16,760 Speaker 1: card that gives you a discount for using those services. 319 00:14:17,160 --> 00:14:19,600 Speaker 1: The best ones have like steep annual fees. Ones that 320 00:14:19,640 --> 00:14:21,960 Speaker 1: have like recurring benefits, but a couple of the no 321 00:14:22,080 --> 00:14:24,640 Speaker 1: annual fee chase cards offer three free months of like 322 00:14:24,720 --> 00:14:27,480 Speaker 1: dash Pass or something like that. So we're actually gonna 323 00:14:27,680 --> 00:14:29,880 Speaker 1: deep dive into the most unique credit card rewards next 324 00:14:29,920 --> 00:14:31,440 Speaker 1: week on the show. But this is one of those 325 00:14:31,480 --> 00:14:33,840 Speaker 1: things where use your credit card to help give you 326 00:14:33,880 --> 00:14:37,360 Speaker 1: perks on that front, but ultimately eating out less and 327 00:14:37,400 --> 00:14:40,280 Speaker 1: then ordering takeout delivered to your door less is better 328 00:14:40,440 --> 00:14:42,560 Speaker 1: for your money, better for your finances. 329 00:14:42,640 --> 00:14:45,640 Speaker 2: Yeah, Like, well, so dash Pass specifically, that's like, that's 330 00:14:45,680 --> 00:14:48,360 Speaker 2: the subscription model that door Dash offers, where it's like, 331 00:14:48,440 --> 00:14:50,880 Speaker 2: if you pay a certain amount, you get unlimited deliveries, 332 00:14:51,240 --> 00:14:54,800 Speaker 2: which kind of sounds great, right, But also for some 333 00:14:54,840 --> 00:14:56,560 Speaker 2: folks this might be their craft beer equivalent. So I 334 00:14:56,600 --> 00:14:58,560 Speaker 2: don't want to hate, but this is also the most 335 00:14:58,560 --> 00:15:03,000 Speaker 2: expensive way to feed yourself. Yeah, ordering takeout literally constantly. 336 00:15:03,240 --> 00:15:05,800 Speaker 1: But not just ordering takeout, because if you, like I 337 00:15:05,840 --> 00:15:08,080 Speaker 1: went to pick up some Chinese takeout the other day, 338 00:15:08,240 --> 00:15:10,520 Speaker 1: that's not terribly expensive, but if I were to have 339 00:15:10,560 --> 00:15:13,080 Speaker 1: DoorDash delivered it, my ten dollars order would have turned 340 00:15:13,120 --> 00:15:14,560 Speaker 1: into sixteen probably. 341 00:15:15,000 --> 00:15:17,120 Speaker 2: So that's why I speaking to the fact that ordering 342 00:15:17,160 --> 00:15:19,640 Speaker 2: takeout just I mean food prepared at restaurants. It is 343 00:15:19,640 --> 00:15:23,200 Speaker 2: also just so crazy expensive compared to making a turkey sandwich, 344 00:15:24,000 --> 00:15:27,240 Speaker 2: like you're talking about like literally since like you can 345 00:15:27,240 --> 00:15:30,560 Speaker 2: count it by pennies as opposed to counting it by dollars. Well, 346 00:15:30,560 --> 00:15:33,640 Speaker 2: speaking of food, one economic indicator is pointing towards a 347 00:15:34,080 --> 00:15:37,520 Speaker 2: slumping economy. We're gonna call this the Costco meat indicator, 348 00:15:38,440 --> 00:15:41,760 Speaker 2: and it was discussed by the CFO of of course Costco, 349 00:15:42,280 --> 00:15:45,400 Speaker 2: and it reveals that customers are starting to shift from 350 00:15:45,520 --> 00:15:49,960 Speaker 2: more expensive meat cuts towards more affordable ones to cheaper ones. 351 00:15:50,040 --> 00:15:52,440 Speaker 2: And so what that means is that instead of beef, 352 00:15:52,760 --> 00:15:58,000 Speaker 2: they're noticing that their customers are trending towards chicken or pork, 353 00:15:58,520 --> 00:16:02,080 Speaker 2: even can tuna. And so the reason you mentioned this 354 00:16:02,160 --> 00:16:05,640 Speaker 2: is because they saw this same trend prior to recessions 355 00:16:05,680 --> 00:16:07,840 Speaker 2: that we've had in the past. And so it's like, oh, 356 00:16:07,960 --> 00:16:11,160 Speaker 2: is this the canary in the coal mine? Who knows? 357 00:16:11,200 --> 00:16:14,240 Speaker 2: We don't know, But trading down for cheaper cuts like 358 00:16:14,280 --> 00:16:16,920 Speaker 2: this is a tried and true way to save It 359 00:16:16,960 --> 00:16:19,360 Speaker 2: makes sense from a personal finance standpoint that when you 360 00:16:19,760 --> 00:16:21,760 Speaker 2: have more income, when you've built up more wealth, that 361 00:16:21,800 --> 00:16:24,400 Speaker 2: you're thinking, all right, I'm gonna get it. Maybe we're 362 00:16:24,440 --> 00:16:25,720 Speaker 2: gonna get some more meat, or I'm gonna get a 363 00:16:25,760 --> 00:16:29,480 Speaker 2: nicer cut of meat instead of going with a choice cut, 364 00:16:29,480 --> 00:16:31,920 Speaker 2: I'm gonna get that prime cut and it are you 365 00:16:31,920 --> 00:16:34,280 Speaker 2: going fancy? Yeah? But I mean, like, honestly, as a kid, 366 00:16:34,280 --> 00:16:36,240 Speaker 2: I remember that when there wasn't enough money to go around, 367 00:16:36,560 --> 00:16:39,280 Speaker 2: Like literally, we ate spam, and I remember as a 368 00:16:39,320 --> 00:16:42,440 Speaker 2: kid loving it. It was something I look forward to. 369 00:16:42,520 --> 00:16:44,480 Speaker 1: You were always hoping for a recession as a child. 370 00:16:44,840 --> 00:16:47,560 Speaker 2: Honestly, But even now, or like when Kate and I 371 00:16:47,560 --> 00:16:49,120 Speaker 2: got married, when we were newly weeds, we didn't have 372 00:16:49,160 --> 00:16:51,600 Speaker 2: a whole lot of money. We rarely ate meat. But 373 00:16:51,720 --> 00:16:54,040 Speaker 2: now as we've gotten older and built up some wealth, 374 00:16:54,360 --> 00:16:57,080 Speaker 2: picking up some rabbis from Costco like that is something 375 00:16:57,120 --> 00:16:59,360 Speaker 2: that you can do. So it makes sense to consider 376 00:16:59,760 --> 00:17:01,560 Speaker 2: cutting back in one of the when it comes to 377 00:17:01,600 --> 00:17:03,760 Speaker 2: your grocery bill, when it comes to your grocery budget, 378 00:17:03,760 --> 00:17:04,919 Speaker 2: and one of the ways you can do that is 379 00:17:05,400 --> 00:17:08,560 Speaker 2: limiting the amount of meat that you consume, but also 380 00:17:08,920 --> 00:17:11,639 Speaker 2: even considering a substitute for maybe the price here stuff. 381 00:17:11,800 --> 00:17:14,639 Speaker 1: No, I always want to I love smoking brisket, but 382 00:17:14,720 --> 00:17:16,240 Speaker 1: I just didn't do it for a long time because 383 00:17:16,320 --> 00:17:19,399 Speaker 1: briskets were seven dollars a pound, But more recently briskets 384 00:17:19,440 --> 00:17:21,160 Speaker 1: have been closer to three to fifty a pound at Costco, 385 00:17:21,240 --> 00:17:22,800 Speaker 1: and I'm like, well, three fifty a pound, Okay, Well 386 00:17:22,840 --> 00:17:25,280 Speaker 1: this is a there's a thirty five dollars brisket instead 387 00:17:25,280 --> 00:17:27,600 Speaker 1: of an eighty dollars brisket. And so I'll totally I'll 388 00:17:27,600 --> 00:17:31,000 Speaker 1: totally put that on. But yeah, let price be your guide, 389 00:17:31,200 --> 00:17:33,400 Speaker 1: because it should be. And at a certain price point, 390 00:17:33,400 --> 00:17:35,280 Speaker 1: you should say, guess what, no more brisket or no 391 00:17:35,320 --> 00:17:37,240 Speaker 1: more stake for me, and I'm going to switch to 392 00:17:37,320 --> 00:17:40,440 Speaker 1: cheaper alternatives. And so we're not the only people who 393 00:17:40,440 --> 00:17:44,000 Speaker 1: think like that. Americans, maybe not even intentionally are thinking 394 00:17:44,040 --> 00:17:46,560 Speaker 1: like that, but they're reacting to higher prices and they're 395 00:17:47,000 --> 00:17:49,639 Speaker 1: downgrading kind of the meat products that they choose. And 396 00:17:50,040 --> 00:17:52,200 Speaker 1: I think that's a smart move. But I also think 397 00:17:52,200 --> 00:17:54,760 Speaker 1: maybe it's a good proactive move for frugal folks to 398 00:17:55,320 --> 00:17:55,800 Speaker 1: take part in. 399 00:17:56,119 --> 00:17:57,640 Speaker 2: And I think it's good for us to talk about 400 00:17:57,680 --> 00:17:59,199 Speaker 2: it too, because it just highlights the fact that there 401 00:17:59,240 --> 00:18:01,320 Speaker 2: are changes that you can make. I think oftentimes we 402 00:18:01,359 --> 00:18:03,960 Speaker 2: feel locked into a certain kind of lifestyle or we 403 00:18:03,960 --> 00:18:05,720 Speaker 2: we feel that like, well, what are we gonna do? 404 00:18:05,840 --> 00:18:08,720 Speaker 2: Like we don't do anything too extravagant, but in fact 405 00:18:08,760 --> 00:18:11,000 Speaker 2: there are these small tweaks that you can make in 406 00:18:11,080 --> 00:18:12,879 Speaker 2: order to save more and have more money at the 407 00:18:12,920 --> 00:18:15,000 Speaker 2: end of the month. That's right, Yeah, we have more 408 00:18:15,280 --> 00:18:17,040 Speaker 2: in our power he Man style than we would like 409 00:18:17,040 --> 00:18:19,400 Speaker 2: to think. That's right, isn't that what is he Man's line? 410 00:18:19,440 --> 00:18:22,360 Speaker 2: Isn't like you hub the power the power. He's got 411 00:18:22,520 --> 00:18:24,960 Speaker 2: the sword or so do we all do? We're just 412 00:18:25,000 --> 00:18:25,359 Speaker 2: like he Man? 413 00:18:25,359 --> 00:18:27,640 Speaker 1: All right, We've got more to get to on this episode, 414 00:18:27,640 --> 00:18:31,320 Speaker 1: including new perks for Prime members and some great data 415 00:18:31,480 --> 00:18:33,200 Speaker 1: on haggling and how far it can get you. We'll 416 00:18:33,200 --> 00:18:34,639 Speaker 1: get to that more right after this. 417 00:18:44,240 --> 00:18:45,800 Speaker 2: All right, we are back for the break, and as 418 00:18:45,840 --> 00:18:48,639 Speaker 2: everyone knows, after the break on our Friday flights is 419 00:18:48,640 --> 00:18:51,040 Speaker 2: when we like to get to the ludicrous headline of 420 00:18:51,080 --> 00:18:51,360 Speaker 2: the week. 421 00:18:51,480 --> 00:18:53,439 Speaker 1: Remember when we kind of used to do voices to 422 00:18:53,440 --> 00:18:54,320 Speaker 1: introduce voices. 423 00:18:54,680 --> 00:18:57,680 Speaker 2: I specifically remember doing the different some different Harry Potter voices, 424 00:18:57,960 --> 00:19:00,359 Speaker 2: and you want to bring it back do at no. 425 00:19:00,440 --> 00:19:03,960 Speaker 2: I think everyone's cringing a little bit, or maybe that's 426 00:19:04,000 --> 00:19:06,159 Speaker 2: just me, which by the way, did I say we 427 00:19:06,200 --> 00:19:08,840 Speaker 2: got through all the books? Oh? Goodratulation, Yeah, thanks man. 428 00:19:08,840 --> 00:19:11,040 Speaker 2: We finished on five, so we finished them and then 429 00:19:11,160 --> 00:19:13,640 Speaker 2: we you know, we kind of watched the movies in tandem, 430 00:19:13,680 --> 00:19:15,560 Speaker 2: so we finished. We got halfway through. I looked it 431 00:19:15,640 --> 00:19:18,760 Speaker 2: up where the first part one, part two movie of 432 00:19:19,080 --> 00:19:21,480 Speaker 2: book seven where it was split, and so we stopped 433 00:19:21,480 --> 00:19:23,480 Speaker 2: at that point in the book, watched the part one movie, 434 00:19:23,520 --> 00:19:26,680 Speaker 2: and then finished reading the book and then watch part two. 435 00:19:26,680 --> 00:19:29,320 Speaker 2: But the kids loved it. It's kind of it's bittersweet 436 00:19:29,359 --> 00:19:31,680 Speaker 2: because it's it's past comer and it's done. Yeah, we'll 437 00:19:31,680 --> 00:19:34,040 Speaker 2: have to find another series to get to. But uh, Twilight. 438 00:19:34,200 --> 00:19:36,879 Speaker 2: We that's what I recommend. Just kidding, we're definitely not 439 00:19:36,920 --> 00:19:40,040 Speaker 2: going to do that. But the ludicrous headline of this 440 00:19:40,160 --> 00:19:44,720 Speaker 2: week came from The Hill, a fairly straightforward website and 441 00:19:44,760 --> 00:19:47,560 Speaker 2: a fairly straight forward headline as well. Americans, Oh one 442 00:19:47,680 --> 00:19:52,280 Speaker 2: trillion dollars in credit card debt, so all right, it's official. 443 00:19:52,400 --> 00:19:56,200 Speaker 2: We've uh, we've done it, folks, and just the finish line. Okay, 444 00:19:56,200 --> 00:19:59,720 Speaker 2: So another potentially ludicrous part of this headline is the 445 00:19:59,720 --> 00:20:03,199 Speaker 2: fact that the FED actually hasn't said that we have 446 00:20:03,400 --> 00:20:06,359 Speaker 2: hit one trillion, but other research, other studies have pointed 447 00:20:06,359 --> 00:20:08,399 Speaker 2: to the fact. So I don't know. Is he actually 448 00:20:08,440 --> 00:20:10,840 Speaker 2: jumping the gun a little bit? Who knows? But we 449 00:20:10,880 --> 00:20:13,719 Speaker 2: are basically there, And of course this is bad news, 450 00:20:14,119 --> 00:20:17,000 Speaker 2: especially considering that the average interest rate on credit cards 451 00:20:17,040 --> 00:20:19,320 Speaker 2: is nearing twenty four percent. It's the highest that has 452 00:20:19,320 --> 00:20:23,320 Speaker 2: been since we were we ones, since we were little 453 00:20:23,359 --> 00:20:26,680 Speaker 2: babies back in the eighties. The typical American household now 454 00:20:26,760 --> 00:20:29,919 Speaker 2: has five figures in debt, about ten thousand dollars in 455 00:20:30,160 --> 00:20:33,160 Speaker 2: credit card debt lingering around. And so if you're one 456 00:20:33,160 --> 00:20:36,000 Speaker 2: of these folks, please check out our article up on 457 00:20:36,000 --> 00:20:39,920 Speaker 2: the website on creating a debt payoff plan. We want 458 00:20:39,960 --> 00:20:42,840 Speaker 2: you to proactively approach any debt that you might have 459 00:20:42,960 --> 00:20:46,120 Speaker 2: in your life, because there's nothing wrong with using credit cards. 460 00:20:46,200 --> 00:20:50,479 Speaker 2: If overspending and consuming on you with credit cards, if 461 00:20:50,480 --> 00:20:51,760 Speaker 2: that's never been a problem for you. 462 00:20:51,800 --> 00:20:53,959 Speaker 1: Yeah, if you always pay your balance off on time, Yes, 463 00:20:54,040 --> 00:20:56,480 Speaker 1: all credit cards can be great for your finance, but 464 00:20:56,480 --> 00:20:59,120 Speaker 1: if you are not using them properly, if you're using 465 00:20:59,119 --> 00:21:01,919 Speaker 1: credit cards the wrong way and maintaining a balance and 466 00:21:01,960 --> 00:21:05,480 Speaker 1: paying interests, this is like trying to walk up an 467 00:21:05,560 --> 00:21:08,520 Speaker 1: escalator that's going down. You are using that force, that 468 00:21:08,520 --> 00:21:11,040 Speaker 1: that force is being used against you as opposed to 469 00:21:11,320 --> 00:21:13,520 Speaker 1: being on the receiving end of interest. I mean, I'd 470 00:21:13,520 --> 00:21:16,600 Speaker 1: love to see that overall headline number of a trillion 471 00:21:16,680 --> 00:21:19,760 Speaker 1: dollars in debt at credit card debt overall nationwide go down. 472 00:21:19,880 --> 00:21:22,080 Speaker 2: But more than anything, it might. There's a chance that 473 00:21:22,119 --> 00:21:24,080 Speaker 2: it might. I mean, we've seen that happen in the past. 474 00:21:24,080 --> 00:21:26,520 Speaker 1: But I'd love more than anything for how to money 475 00:21:26,520 --> 00:21:30,120 Speaker 1: listeners to see just their balance is taken out right, 476 00:21:30,359 --> 00:21:34,080 Speaker 1: and you are a small pebble in a giant pond 477 00:21:34,160 --> 00:21:36,160 Speaker 1: or a giant ocean. But a bunch of pebbles, man 478 00:21:36,240 --> 00:21:38,000 Speaker 1: if at some point makes it difference, right, right, right, 479 00:21:38,200 --> 00:21:39,920 Speaker 1: That's why I tell them, absolutely does. All right, let's 480 00:21:39,920 --> 00:21:43,720 Speaker 1: talk about Amazon Prime for a second. What we do matters, right, Well, 481 00:21:43,960 --> 00:21:44,960 Speaker 1: even if it doesn't. 482 00:21:44,720 --> 00:21:46,720 Speaker 2: Looming existential crisis, even if. 483 00:21:46,560 --> 00:21:50,920 Speaker 1: It doesn't impact the overall headline number, it impacts your life, sally, right, 484 00:21:50,960 --> 00:21:53,600 Speaker 1: and that's what matters. So let's talk about Amazon Prime 485 00:21:53,640 --> 00:21:56,560 Speaker 1: for a second. The perks keep getting better. New reports 486 00:21:56,800 --> 00:22:00,280 Speaker 1: surface this week that Amazon might beginning they might be 487 00:22:00,400 --> 00:22:02,479 Speaker 1: working out a deal to get free cell phone service 488 00:22:02,840 --> 00:22:06,320 Speaker 1: soon for all Amazon Prime subscribers. That it might be 489 00:22:06,440 --> 00:22:09,360 Speaker 1: something like ten dollars a month, but other reports are saying, nah, 490 00:22:09,400 --> 00:22:11,760 Speaker 1: they might just literally offer free cell phone service to 491 00:22:12,200 --> 00:22:16,080 Speaker 1: all Prime subs and that of course would radically change 492 00:22:16,119 --> 00:22:19,320 Speaker 1: the value proposition of the annual fee that they charge, 493 00:22:19,320 --> 00:22:21,440 Speaker 1: which is one hundred and thirty nine bucks. Is actually 494 00:22:21,440 --> 00:22:23,600 Speaker 1: gonna happen. We don't know these are like early reports, 495 00:22:23,960 --> 00:22:24,880 Speaker 1: but it's. 496 00:22:24,840 --> 00:22:25,840 Speaker 2: Definitely keep an eye on it. 497 00:22:25,920 --> 00:22:28,320 Speaker 1: Yeah, for sure, that's huge because I mean think mint 498 00:22:28,320 --> 00:22:30,240 Speaker 1: Mobile is cheap, but it's one hundred and eighty bucks 499 00:22:30,280 --> 00:22:32,720 Speaker 1: a year, right, so free. Yeah, if you're getting even 500 00:22:32,760 --> 00:22:35,359 Speaker 1: if it's a lesser phone service, but it's included with Prime, 501 00:22:35,560 --> 00:22:39,200 Speaker 1: that would be pretty sweet. But Prime members also just 502 00:22:39,240 --> 00:22:42,320 Speaker 1: got access to another perk, something called one Medical, which 503 00:22:42,440 --> 00:22:45,800 Speaker 1: includes the benefit of unlimited teledoct visits for one hundred 504 00:22:45,840 --> 00:22:47,600 Speaker 1: and forty four dollars for the first year. 505 00:22:47,640 --> 00:22:48,160 Speaker 2: Pretty cool. 506 00:22:48,240 --> 00:22:50,959 Speaker 1: Yeah, not bad, right, And like you and I, we've 507 00:22:50,960 --> 00:22:53,000 Speaker 1: already got this for free as a part of our 508 00:22:53,240 --> 00:22:56,800 Speaker 1: Medishare plan that we subscribe to. But it's just another 509 00:22:56,800 --> 00:22:59,919 Speaker 1: way that Amazon is trying to make Prime a stickier product, 510 00:23:00,200 --> 00:23:02,160 Speaker 1: keep ramping up benefits and that's not a bad thing. 511 00:23:02,280 --> 00:23:04,960 Speaker 1: I think it's a good thing. But now, as always, 512 00:23:05,080 --> 00:23:07,160 Speaker 1: it's just always a great time to reassess the value 513 00:23:07,160 --> 00:23:10,040 Speaker 1: proposition of your Prime membership. Similar like what we're talking 514 00:23:10,040 --> 00:23:12,200 Speaker 1: about with credit cards. Does having Prime cause you to 515 00:23:12,240 --> 00:23:14,040 Speaker 1: spend too much? Do you just randomly buy stuff on 516 00:23:14,080 --> 00:23:17,760 Speaker 1: Amazon because you can it just because oh it's free shipping, Well, 517 00:23:17,800 --> 00:23:19,880 Speaker 1: then you might want to reconsider and then think about 518 00:23:19,960 --> 00:23:22,480 Speaker 1: are you actually watching Prime video, listening to Prime music, 519 00:23:22,600 --> 00:23:25,080 Speaker 1: or reading the free books that Prime has to offer. 520 00:23:25,119 --> 00:23:27,800 Speaker 1: And if not, if not, if you're not taking full advantage, 521 00:23:27,960 --> 00:23:30,879 Speaker 1: or you find yourself going down the slippery slope of 522 00:23:31,400 --> 00:23:34,080 Speaker 1: spending more than you like because I'll just buy it 523 00:23:34,119 --> 00:23:36,480 Speaker 1: on Prime, then you might. 524 00:23:36,400 --> 00:23:36,959 Speaker 2: Want to digch it. 525 00:23:37,000 --> 00:23:38,919 Speaker 1: You probably do want to digit if it's costing you 526 00:23:38,920 --> 00:23:41,840 Speaker 1: more money than you like, at least until that free 527 00:23:41,840 --> 00:23:44,400 Speaker 1: cell phone service becomes a reality, because that might change 528 00:23:44,440 --> 00:23:46,800 Speaker 1: the value proposition again. Yeah, and by the way, telehealth, 529 00:23:46,800 --> 00:23:50,240 Speaker 1: it's not just for us humans, not just for muggles. 530 00:23:51,680 --> 00:23:54,879 Speaker 1: Walmart they announced last week that they are going to 531 00:23:54,920 --> 00:23:59,360 Speaker 1: make ve telehealth available for Walmart Plus members Veterinary health 532 00:23:59,440 --> 00:24:03,480 Speaker 1: nut like veterans, And this is Walmart's equivalent of Amazon Prime, 533 00:24:03,840 --> 00:24:06,360 Speaker 1: and they're going to be offering this through a service called. 534 00:24:06,359 --> 00:24:11,520 Speaker 2: Pop pawp So that's pretty cool. When the typical wellness 535 00:24:11,560 --> 00:24:13,760 Speaker 2: visits for like taking your catter dog in, it like 536 00:24:13,800 --> 00:24:15,879 Speaker 2: can be upwards of two hundred and fifty bucks. I 537 00:24:15,880 --> 00:24:19,119 Speaker 2: think this could be certainly something worth considering. And and 538 00:24:19,160 --> 00:24:21,280 Speaker 2: by the way, too, like back when we had had 539 00:24:21,320 --> 00:24:24,840 Speaker 2: a dog, we would take advantage of this low cost 540 00:24:25,000 --> 00:24:28,120 Speaker 2: vaccine clinic that would pop up at our local church 541 00:24:28,240 --> 00:24:30,600 Speaker 2: there in the neighborhood and so, and we would get 542 00:24:30,720 --> 00:24:34,600 Speaker 2: rabis like kennel cough stuff. They would like squirt in 543 00:24:34,640 --> 00:24:37,280 Speaker 2: their nose. I love getting rabies, like all the different 544 00:24:37,320 --> 00:24:39,800 Speaker 2: vaccines that you can get for your pet. And so 545 00:24:39,960 --> 00:24:43,600 Speaker 2: search low cost dog vaccines or something like that in 546 00:24:43,600 --> 00:24:46,119 Speaker 2: your area. And there are different organizations that provide that 547 00:24:46,160 --> 00:24:49,280 Speaker 2: you don't necessarily have to go into the fancy vet 548 00:24:49,359 --> 00:24:52,120 Speaker 2: to get those services. I think you can. Probably you're 549 00:24:52,119 --> 00:24:54,119 Speaker 2: gonna get more personalized care, I'm sure if you go 550 00:24:54,200 --> 00:24:56,239 Speaker 2: in and you've got a favorite local vet. But if 551 00:24:56,240 --> 00:24:58,480 Speaker 2: you're looking to if you're looking for a deal, this 552 00:24:58,520 --> 00:25:00,560 Speaker 2: is certainly a way of going out about it well. 553 00:25:00,600 --> 00:25:03,720 Speaker 2: And clearly it's not going to up end the traditional 554 00:25:03,800 --> 00:25:05,879 Speaker 2: veterinary clinic, right, Like we are to take ours in 555 00:25:05,920 --> 00:25:08,280 Speaker 2: for some legit things today and one one of our 556 00:25:08,320 --> 00:25:10,960 Speaker 2: kiddies has a little tumor. They think it's been nign 557 00:25:11,040 --> 00:25:13,880 Speaker 2: but like its and it's a part of owning a pet, 558 00:25:13,920 --> 00:25:15,840 Speaker 2: part of owning a pet, and so they wouldn't be 559 00:25:15,840 --> 00:25:19,119 Speaker 2: able to diagnose that nothing. I don't think over the 560 00:25:19,200 --> 00:25:21,399 Speaker 2: over a zoom call, but I think it can be helpful. 561 00:25:21,440 --> 00:25:23,200 Speaker 1: It's kind of a nice perk. And so if you're 562 00:25:23,240 --> 00:25:26,080 Speaker 1: like I think I would do this like three times 563 00:25:26,160 --> 00:25:28,320 Speaker 1: a month, then you might want to join Walmart Plus 564 00:25:28,400 --> 00:25:31,680 Speaker 1: because it's going to be like those additional perks can 565 00:25:31,840 --> 00:25:34,320 Speaker 1: really make a service that you were otherwise on the 566 00:25:34,359 --> 00:25:36,080 Speaker 1: fence about really well worth it. 567 00:25:36,200 --> 00:25:38,199 Speaker 2: That's right. Yeah, we're always looking for deals, So we're 568 00:25:38,200 --> 00:25:40,640 Speaker 2: talking about haggling here, right, why not at least ask 569 00:25:40,760 --> 00:25:42,440 Speaker 2: and see if you can get the item you want 570 00:25:43,119 --> 00:25:45,399 Speaker 2: for less money. Of course, frugality is not going to 571 00:25:45,400 --> 00:25:47,000 Speaker 2: solve all your problems. We talked about this on a 572 00:25:47,040 --> 00:25:51,520 Speaker 2: recent episode, but recent numbers from consumer reports shows that 573 00:25:51,600 --> 00:25:54,760 Speaker 2: haggling it actually works, but only the folks who are 574 00:25:54,800 --> 00:25:56,919 Speaker 2: asking for a price reduction are going to be the 575 00:25:56,920 --> 00:25:59,679 Speaker 2: ones who actually get that discount. According to that Consumer 576 00:25:59,720 --> 00:26:03,240 Speaker 2: Report research, only twenty three percent of the readers asked 577 00:26:03,280 --> 00:26:07,119 Speaker 2: for a discount when buying a mattress, but sixty percent 578 00:26:07,160 --> 00:26:10,520 Speaker 2: of the people who asked for a discount item ended 579 00:26:10,560 --> 00:26:13,399 Speaker 2: up getting one. Uh and the average savings was two 580 00:26:13,520 --> 00:26:16,280 Speaker 2: hundred and forty five dollars. And so I think it 581 00:26:16,320 --> 00:26:19,200 Speaker 2: can be helpful to not only I think it's helpful 582 00:26:19,200 --> 00:26:22,320 Speaker 2: to you to know like what markets or like maybe 583 00:26:22,320 --> 00:26:25,400 Speaker 2: what kinds of stores are gonna give you the best results, 584 00:26:25,400 --> 00:26:29,720 Speaker 2: because there are some sectors, this is some industries or whatever. 585 00:26:29,760 --> 00:26:31,840 Speaker 2: We're like, it's just really price is the price? 586 00:26:31,920 --> 00:26:34,680 Speaker 1: Yeah, it's really Amazon, and get a discount on Amazon 587 00:26:34,720 --> 00:26:36,760 Speaker 1: Prime unless you're actually like a student and then they 588 00:26:36,760 --> 00:26:37,639 Speaker 1: already offer that product. 589 00:26:37,680 --> 00:26:38,960 Speaker 2: Yeah, Like if you go to a restaurant and sit 590 00:26:39,000 --> 00:26:41,960 Speaker 2: down and or like, I'd like to order the margarita, 591 00:26:42,200 --> 00:26:45,320 Speaker 2: but I see it's listed for fourteen dollars. I was 592 00:26:45,359 --> 00:26:47,480 Speaker 2: really only hoping to spend eleven dollars. 593 00:26:47,520 --> 00:26:48,879 Speaker 1: Well, if you said that, they might say, we have 594 00:26:48,920 --> 00:26:50,439 Speaker 1: a lesser margarita we can sell you. 595 00:26:50,480 --> 00:26:53,200 Speaker 2: But do you think that that maybe or they would 596 00:26:53,240 --> 00:26:56,879 Speaker 2: just look at you like disbelief because it's like, this 597 00:26:56,960 --> 00:26:59,800 Speaker 2: is not something a restaurant next time. Yeah, yes, but 598 00:26:59,840 --> 00:27:02,879 Speaker 2: it's this isn't just an in person tactic. Consider reports 599 00:27:02,880 --> 00:27:06,560 Speaker 2: found that more folks actually found success online than in 600 00:27:06,600 --> 00:27:07,680 Speaker 2: a physical store as well. 601 00:27:07,720 --> 00:27:10,640 Speaker 1: Clicked that little chap less send an email before your 602 00:27:10,640 --> 00:27:12,879 Speaker 1: purchase and ask and it can't. 603 00:27:12,600 --> 00:27:14,320 Speaker 2: See if they can hook you up with a discount code. 604 00:27:14,400 --> 00:27:16,200 Speaker 1: Yeah, I mean, it can't hurt to ask, that's for sure. 605 00:27:16,240 --> 00:27:18,600 Speaker 1: And Matt, you and I were all about asking for 606 00:27:18,600 --> 00:27:20,520 Speaker 1: a discount, but I would say too, there's a difference 607 00:27:20,520 --> 00:27:24,040 Speaker 1: between asking and negotiating and browbeating, And so I think 608 00:27:24,080 --> 00:27:26,679 Speaker 1: the marguerite example you gave is probably probably more in 609 00:27:26,680 --> 00:27:28,199 Speaker 1: that browbeating sort of thing. Can I get this for 610 00:27:28,200 --> 00:27:31,400 Speaker 1: eight dollars when it's fifteen? Feels a little uncuth, Yeah, exactly. 611 00:27:31,440 --> 00:27:33,320 Speaker 1: And one of my friends this week he sent me 612 00:27:33,480 --> 00:27:35,520 Speaker 1: a clip from the show Extreme Cheap Skates, and they've 613 00:27:35,520 --> 00:27:37,600 Speaker 1: got a bunch of like you know, that was episodes 614 00:27:37,640 --> 00:27:38,120 Speaker 1: on YouTube. 615 00:27:38,160 --> 00:27:39,280 Speaker 2: It's a show. 616 00:27:39,240 --> 00:27:43,040 Speaker 1: And it is zany, Like there's some crazy stuff in there, 617 00:27:43,640 --> 00:27:45,639 Speaker 1: the links that people will go to to save money, 618 00:27:46,080 --> 00:27:49,200 Speaker 1: Like you almost can't believe it. It's amazing that these people exist. 619 00:27:49,200 --> 00:27:53,040 Speaker 1: It gets really intense. But like one guy, literally they're 620 00:27:53,040 --> 00:27:56,359 Speaker 1: interviewing his ex wife on the show and she says, yeah, 621 00:27:56,400 --> 00:27:58,680 Speaker 1: his cheapness it made me leave him. 622 00:27:58,640 --> 00:28:01,120 Speaker 2: Essentially why she is the ex wife now. She said 623 00:28:01,119 --> 00:28:02,119 Speaker 2: that was a huge part of it. 624 00:28:02,200 --> 00:28:04,959 Speaker 1: Yeah, because I can't even make this up. He had 625 00:28:04,960 --> 00:28:07,520 Speaker 1: wrapped his house in plastic. He's wrapped his car in plastic, 626 00:28:07,760 --> 00:28:09,520 Speaker 1: largely because he thought that was going to increase the 627 00:28:09,600 --> 00:28:12,160 Speaker 1: resale value if you didn't cause any wear and tear 628 00:28:12,480 --> 00:28:17,080 Speaker 1: to these items. Yeah, he washed his clothes in the 629 00:28:17,119 --> 00:28:19,280 Speaker 1: hot tub, and he washed himself in the hot tub 630 00:28:19,359 --> 00:28:22,080 Speaker 1: because it's cheaper to do that than it is to 631 00:28:22,119 --> 00:28:25,520 Speaker 1: actually take showers or to run the wash and he's 632 00:28:25,560 --> 00:28:27,120 Speaker 1: like washed it by hand with soap. 633 00:28:27,160 --> 00:28:28,080 Speaker 2: It's crazy. 634 00:28:28,240 --> 00:28:30,160 Speaker 1: So, if you want to go down a rabbit hole 635 00:28:30,280 --> 00:28:32,399 Speaker 1: of money saving insanity that Matt and I do not 636 00:28:32,440 --> 00:28:35,800 Speaker 1: subscribe to, check out Extreme Cheap Skates on YouTube. But 637 00:28:36,600 --> 00:28:38,320 Speaker 1: I think, yeah, asking ask if you can get a 638 00:28:38,320 --> 00:28:41,240 Speaker 1: better deal, that's fine. Know what other retailers are selling 639 00:28:41,240 --> 00:28:43,480 Speaker 1: similar items for, so that you're not asking for something 640 00:28:43,560 --> 00:28:45,560 Speaker 1: outrageous uncouth. 641 00:28:45,280 --> 00:28:48,240 Speaker 2: Be armed with information, that's always that's a huge step 642 00:28:48,240 --> 00:28:49,520 Speaker 2: towards actually getting a deal. 643 00:28:49,560 --> 00:28:51,680 Speaker 1: And sometimes you can literally just ask for our better price. Hey, 644 00:28:51,680 --> 00:28:53,040 Speaker 1: can you give me ten percent off on this? And 645 00:28:53,080 --> 00:28:55,760 Speaker 1: see what people say. Also, the key is to be 646 00:28:55,800 --> 00:28:57,440 Speaker 1: willing to walk away if you don't get the deal 647 00:28:57,480 --> 00:29:00,000 Speaker 1: you're looking for, if they're not able to offer you 648 00:29:00,160 --> 00:29:02,360 Speaker 1: the discount or the price that you think is appropriate, 649 00:29:02,680 --> 00:29:05,880 Speaker 1: it's okay to just like say, all right, good, it's 650 00:29:05,920 --> 00:29:07,400 Speaker 1: not worth it to me at this price point then, 651 00:29:07,720 --> 00:29:09,200 Speaker 1: or to go down the street and buy it elsewhere. 652 00:29:09,280 --> 00:29:12,080 Speaker 2: Yeah, let's talk about housing, because last week we talked 653 00:29:12,080 --> 00:29:15,760 Speaker 2: about the downsides of home ownership. A lot of throwbacks 654 00:29:16,240 --> 00:29:19,400 Speaker 2: within this Friday Flight today, But it's a bigger mistake 655 00:29:19,680 --> 00:29:22,760 Speaker 2: owning a home. That is for folks who move around 656 00:29:22,760 --> 00:29:25,360 Speaker 2: a lot because of the transaction costs involved with buying 657 00:29:25,400 --> 00:29:27,960 Speaker 2: and selling a home, and then that gets compounded for 658 00:29:28,000 --> 00:29:31,600 Speaker 2: folks who aren't able to muster much of a down payment. Yeah, 659 00:29:31,720 --> 00:29:33,880 Speaker 2: there's a lot of folks who are finding themselves in 660 00:29:33,920 --> 00:29:37,880 Speaker 2: this predicament. And Q the mortgage companies out there who 661 00:29:37,920 --> 00:29:44,120 Speaker 2: are lessening down payment requirements. United Wholesale Mortgage and Rocket Mortgage, 662 00:29:44,360 --> 00:29:47,160 Speaker 2: these are both some of the big players. They both 663 00:29:47,240 --> 00:29:50,240 Speaker 2: are now allowing qualifying buyers to buy their dream home 664 00:29:50,480 --> 00:29:53,160 Speaker 2: with only one percent of the sale price in hand. 665 00:29:53,240 --> 00:29:54,800 Speaker 2: Couldn't believe it when I saw it. Yeah, these are 666 00:29:54,800 --> 00:29:56,680 Speaker 2: the kind of offerings that make us sad. But these 667 00:29:56,720 --> 00:29:59,600 Speaker 2: programs are being talented as making home ownership more affordable. 668 00:30:00,040 --> 00:30:02,360 Speaker 2: And it's true that you won't have to save up 669 00:30:02,400 --> 00:30:04,880 Speaker 2: as much cash to bring to the closing table, but 670 00:30:04,920 --> 00:30:07,800 Speaker 2: that does not make the home that you're buying more affordable. 671 00:30:07,840 --> 00:30:11,480 Speaker 2: We think this is a terrible idea because instead of 672 00:30:11,480 --> 00:30:13,320 Speaker 2: bringing that money to the table, what you're doing you're 673 00:30:13,360 --> 00:30:16,840 Speaker 2: financing a larger like your mortgage is gonna be larger. Basically, 674 00:30:17,080 --> 00:30:20,000 Speaker 2: you're financing a larger portion of the home purchase price, 675 00:30:20,280 --> 00:30:22,600 Speaker 2: which means in the long like over the long haul, 676 00:30:23,040 --> 00:30:25,240 Speaker 2: over the long term, you are paying more because you're 677 00:30:25,240 --> 00:30:26,600 Speaker 2: paying interest on that money. 678 00:30:26,960 --> 00:30:29,560 Speaker 1: This is for every dollar you borrow, you're paying two 679 00:30:29,640 --> 00:30:30,320 Speaker 1: over thirty years. 680 00:30:30,400 --> 00:30:32,640 Speaker 2: Yees. Yeah, I mean it's like it's a wolf in 681 00:30:32,720 --> 00:30:36,960 Speaker 2: sheep's clothing, right, Like it's a fake solution, and ultimately 682 00:30:37,000 --> 00:30:39,000 Speaker 2: it's it's gonna harm you as opposed to helping. 683 00:30:39,080 --> 00:30:41,360 Speaker 1: It's like a it sure sounds nice, It sounds nice, 684 00:30:41,400 --> 00:30:42,320 Speaker 1: and in the shorts. 685 00:30:42,200 --> 00:30:43,080 Speaker 2: It makes me helpful. 686 00:30:43,120 --> 00:30:44,560 Speaker 1: It's like, now I can actually afford to buy the 687 00:30:44,560 --> 00:30:46,720 Speaker 1: home because I don't have to save as much money. Yeah, 688 00:30:46,760 --> 00:30:49,240 Speaker 1: but if you don't have to save up as much money. 689 00:30:48,920 --> 00:30:50,000 Speaker 2: Put you in a worse position. 690 00:30:50,040 --> 00:30:52,080 Speaker 1: You didn't have to find the discipline one to do that, 691 00:30:52,240 --> 00:30:54,680 Speaker 1: and you're less Yeah, you're in less of a healthy position. 692 00:30:54,720 --> 00:30:55,920 Speaker 1: Financially taxed BUIO. 693 00:30:56,000 --> 00:30:57,160 Speaker 2: It makes me think of like if you have a 694 00:30:57,160 --> 00:30:59,560 Speaker 2: bad skin rash and you're like, oh man, it really 695 00:30:59,600 --> 00:31:02,760 Speaker 2: really and see you finally give in and you're just like, 696 00:31:02,760 --> 00:31:04,720 Speaker 2: I'm going to scratch a personal example, No, I don't 697 00:31:04,920 --> 00:31:06,600 Speaker 2: have any rations right now, but you just like go 698 00:31:06,640 --> 00:31:08,600 Speaker 2: to town on it, and what does that? It feels 699 00:31:08,600 --> 00:31:10,680 Speaker 2: good in the moment, right, but you're making the rash 700 00:31:10,680 --> 00:31:12,960 Speaker 2: worse and instead you need to get to the underlying cause. 701 00:31:13,400 --> 00:31:15,680 Speaker 2: And the underlying cause I think for a lot of 702 00:31:15,680 --> 00:31:18,000 Speaker 2: these folks who can't put down more for a down 703 00:31:18,000 --> 00:31:20,360 Speaker 2: payment on a home, the reason oftentimes is because they 704 00:31:20,400 --> 00:31:22,560 Speaker 2: have other debts, They have other things that are standing 705 00:31:22,600 --> 00:31:25,040 Speaker 2: in their way to achieve some of these longer term 706 00:31:25,040 --> 00:31:26,040 Speaker 2: financial goals that you have. 707 00:31:26,120 --> 00:31:28,920 Speaker 1: And so part of it, too is how much housing 708 00:31:28,960 --> 00:31:32,080 Speaker 1: costs are prison, and yes, to save up twenty percent 709 00:31:32,240 --> 00:31:33,920 Speaker 1: is a heck of a lot more difficult now than 710 00:31:33,960 --> 00:31:34,440 Speaker 1: it was four. 711 00:31:34,320 --> 00:31:36,640 Speaker 2: Years Agoeah, I'm not blaming people for the fact that the 712 00:31:36,720 --> 00:31:39,600 Speaker 2: rash exists, but scratching it right now is not the issue. 713 00:31:39,600 --> 00:31:42,040 Speaker 2: It's like, yeah, it makes me think of like a 714 00:31:42,400 --> 00:31:44,920 Speaker 2: like a grease fire and thinking, oh, yeah, let's throw 715 00:31:44,960 --> 00:31:46,680 Speaker 2: some water on it. But it's just gonna make it worse. 716 00:31:46,720 --> 00:31:48,640 Speaker 1: And just because someone says you're qualified to borrow a 717 00:31:48,680 --> 00:31:50,480 Speaker 1: certain amount or that you only have to bring one 718 00:31:50,480 --> 00:31:52,840 Speaker 1: percent to the table at closing, doesn't mean it's a 719 00:31:52,840 --> 00:31:54,480 Speaker 1: good idea, and it doesn't mean it's in your best 720 00:31:54,520 --> 00:31:57,600 Speaker 1: financial interest. So, yeah, these new products, we're not fans 721 00:31:57,600 --> 00:31:59,680 Speaker 1: of them. But Matt, what about folks who already own 722 00:31:59,720 --> 00:32:01,320 Speaker 1: a home, right Because if they've owned a home for 723 00:32:01,320 --> 00:32:03,680 Speaker 1: a few years now, they've seen big gains in equity, 724 00:32:03,920 --> 00:32:06,840 Speaker 1: they feel happy, they're sitting pretty and it's always tough 725 00:32:06,880 --> 00:32:08,920 Speaker 1: to know what to do with wealth that's tied up 726 00:32:08,920 --> 00:32:11,840 Speaker 1: in a home. But the right answer for most folks, though, 727 00:32:11,880 --> 00:32:16,080 Speaker 1: is to do absolutely nothing. Especially as rates have risen 728 00:32:16,120 --> 00:32:18,080 Speaker 1: quite a bit, it's just so much more costly to 729 00:32:18,120 --> 00:32:20,520 Speaker 1: tap that equity right now, And it's one of those 730 00:32:21,000 --> 00:32:23,520 Speaker 1: things that's great to have, but you have to take 731 00:32:23,560 --> 00:32:25,760 Speaker 1: great care before you use it. And if you do 732 00:32:25,840 --> 00:32:28,280 Speaker 1: opt to use some of those funds, the best use 733 00:32:28,360 --> 00:32:30,800 Speaker 1: is to improve your home, adding value to that home. 734 00:32:31,000 --> 00:32:33,720 Speaker 1: That's kind of what the home equity line or loan 735 00:32:33,920 --> 00:32:34,600 Speaker 1: makes sense for. 736 00:32:34,800 --> 00:32:37,080 Speaker 2: It's like one of the few things that we're going 737 00:32:37,160 --> 00:32:39,920 Speaker 2: to give you permission, yeah to do with that additional money, 738 00:32:39,960 --> 00:32:41,240 Speaker 2: take a vacation with it. 739 00:32:41,120 --> 00:32:44,280 Speaker 1: Or by yourself a new jet ski. But if you 740 00:32:44,360 --> 00:32:46,400 Speaker 1: are redoing your bathroom or something like that, it can 741 00:32:46,400 --> 00:32:48,760 Speaker 1: make sense to tap home equity funds for that purpose. 742 00:32:49,040 --> 00:32:52,200 Speaker 1: But do it within reason still, and have a plan 743 00:32:52,280 --> 00:32:54,720 Speaker 1: to pay off any home equity that you take out, 744 00:32:54,880 --> 00:32:57,479 Speaker 1: whether it's that line or loan, within a reasonable amount 745 00:32:57,480 --> 00:32:59,600 Speaker 1: of time, and for us, reasonable means two to three 746 00:32:59,640 --> 00:33:03,000 Speaker 1: years maybe for on the outside. But if you're like, 747 00:33:03,000 --> 00:33:04,920 Speaker 1: I'm gonna take out this home equity loan, but it's 748 00:33:04,920 --> 00:33:07,240 Speaker 1: gonna be a ten year one, that's that's too long 749 00:33:07,280 --> 00:33:09,520 Speaker 1: and you're gonna be paying interest for far too long. 750 00:33:09,560 --> 00:33:12,160 Speaker 1: And so we want you to have a timeline and 751 00:33:12,200 --> 00:33:14,920 Speaker 1: a dedicated repayment plan if you tap those funds at all. 752 00:33:15,040 --> 00:33:17,120 Speaker 2: Yeah, that's right. Like, when you take out that helock 753 00:33:17,120 --> 00:33:19,720 Speaker 2: and you improve your home, typically you are increasing the 754 00:33:19,840 --> 00:33:21,880 Speaker 2: value of your home. So like in the end, it 755 00:33:22,480 --> 00:33:24,520 Speaker 2: can tend to be like a wash, right, Like it 756 00:33:24,600 --> 00:33:26,960 Speaker 2: just penny for penny right, No, And that's why you 757 00:33:27,000 --> 00:33:29,560 Speaker 2: got You have to be reasonable because you can't fool 758 00:33:29,600 --> 00:33:31,560 Speaker 2: yourself into thinking that every dollar you spend on the 759 00:33:31,560 --> 00:33:33,280 Speaker 2: house is going to lead to you being able to 760 00:33:33,320 --> 00:33:35,240 Speaker 2: get a dollar more out of it when the time 761 00:33:35,280 --> 00:33:37,080 Speaker 2: comes to sell. That never happens. 762 00:33:37,240 --> 00:33:39,440 Speaker 1: And unless you're doing the work yourself and you're really 763 00:33:39,480 --> 00:33:41,720 Speaker 1: smart and savvy, typically you're gonna lose money. 764 00:33:41,800 --> 00:33:43,800 Speaker 2: So you have to be on the realistic about the 765 00:33:43,840 --> 00:33:45,840 Speaker 2: fact that you are doing this because you want to 766 00:33:45,880 --> 00:33:48,440 Speaker 2: have a nicer bathroom. Yeah, Like I think the number 767 00:33:48,440 --> 00:33:50,560 Speaker 2: one thing that you can do is like like get 768 00:33:50,560 --> 00:33:54,280 Speaker 2: a new garage door. Oh really yeah, Like it typically 769 00:33:54,360 --> 00:33:57,080 Speaker 2: returns the highest amount, and even still it's only something 770 00:33:57,160 --> 00:34:00,600 Speaker 2: like seventy five cents on the dollar. Everything else you are, 771 00:34:01,080 --> 00:34:03,520 Speaker 2: you're not receiving nearly as much value when the time 772 00:34:03,520 --> 00:34:05,680 Speaker 2: does come to sell all that improvement that you make, 773 00:34:05,720 --> 00:34:08,439 Speaker 2: So you have to do it within reason. But dude, 774 00:34:08,440 --> 00:34:10,640 Speaker 2: that's gonna be it for this Friday flight. We hope 775 00:34:10,680 --> 00:34:13,080 Speaker 2: everyone out there has a wonderful weekend. We'll see you 776 00:34:13,120 --> 00:34:15,239 Speaker 2: back here on Monday. We've got an ask how to 777 00:34:15,320 --> 00:34:18,320 Speaker 2: Money episode lined up for you. And in the meantime, 778 00:34:18,360 --> 00:34:20,480 Speaker 2: if you haven't left us a review yet over at 779 00:34:20,520 --> 00:34:23,680 Speaker 2: Apple Podcasts or wherever it is that you listen to 780 00:34:23,719 --> 00:34:26,080 Speaker 2: your podcast, we would greatly appreciate it. I think last 781 00:34:26,120 --> 00:34:28,040 Speaker 2: I saw over on over at Apple, I think we've 782 00:34:28,080 --> 00:34:30,759 Speaker 2: we almost have a three thousand reviews. Is like we're 783 00:34:30,800 --> 00:34:32,080 Speaker 2: past that, Oh are we? I think so? 784 00:34:32,239 --> 00:34:34,279 Speaker 1: Oh okay, it's been a minute, maybe so, but if yeah, 785 00:34:35,280 --> 00:34:37,840 Speaker 1: anything you can do still. It helped take ten seconds 786 00:34:38,239 --> 00:34:40,480 Speaker 1: say something nice. It helps other people find out about 787 00:34:40,480 --> 00:34:42,680 Speaker 1: the show, and Matt and I would appreciate it. 788 00:34:42,840 --> 00:34:44,560 Speaker 2: We always do, all right, man, that's gonna be it 789 00:34:44,560 --> 00:34:46,919 Speaker 2: for this one. Until next time. Best Friends Out, Best 790 00:34:46,920 --> 00:35:01,200 Speaker 2: Friends Out.