1 00:00:00,080 --> 00:00:03,320 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt, 2 00:00:03,320 --> 00:00:07,040 Speaker 1: and today we're talking about avoiding up cells, hoa hell 3 00:00:07,520 --> 00:00:09,320 Speaker 1: and astrological investing. 4 00:00:28,400 --> 00:00:30,480 Speaker 2: Dude, I don't think I realized how many folks are 5 00:00:30,480 --> 00:00:33,559 Speaker 2: into astrology. Did I tell you about how so our 6 00:00:33,640 --> 00:00:36,520 Speaker 2: local mountain that we like to that we often hike 7 00:00:36,920 --> 00:00:40,159 Speaker 2: at the top there, there's it's pretty bare, right, so 8 00:00:40,200 --> 00:00:43,279 Speaker 2: it's just a bunch of rock essentially, and there are 9 00:00:43,360 --> 00:00:45,919 Speaker 2: like a bunch of crystals that were out with like 10 00:00:45,960 --> 00:00:49,120 Speaker 2: some paint and some other sort of interesting stuff. I 11 00:00:49,159 --> 00:00:51,159 Speaker 2: was like, what is all this? And somebody was like, oh, 12 00:00:51,159 --> 00:00:53,760 Speaker 2: that's it was like a full moon and folks will 13 00:00:53,800 --> 00:00:56,960 Speaker 2: put their crystals out to absorb the energy from the moon. 14 00:00:57,080 --> 00:00:59,280 Speaker 2: I guess, okay, or maybe at certain stars. Have you 15 00:00:59,280 --> 00:01:00,560 Speaker 2: ever heard of that kind of thing? 16 00:01:00,680 --> 00:01:02,840 Speaker 1: And I mean, I know that there's people who do 17 00:01:02,880 --> 00:01:05,000 Speaker 1: that, that it exists, and I think it's been going up 18 00:01:05,040 --> 00:01:06,800 Speaker 1: in popularity. It makes me think of when we had 19 00:01:06,840 --> 00:01:09,720 Speaker 1: Cody Sanchez. She was into crystals, remember that, Oh that 20 00:01:09,800 --> 00:01:11,640 Speaker 1: was like her, that was her sporge. I think was 21 00:01:11,760 --> 00:01:13,759 Speaker 1: really buying crystals, that's right. 22 00:01:13,840 --> 00:01:14,000 Speaker 2: Yeah. 23 00:01:14,360 --> 00:01:16,080 Speaker 1: I don't know much about it though, but we are 24 00:01:16,120 --> 00:01:18,240 Speaker 1: going to talk a little bit about astrology and how 25 00:01:18,680 --> 00:01:22,760 Speaker 1: some people are, especially younger folks, are letting the alignment 26 00:01:22,760 --> 00:01:25,320 Speaker 1: of the stars impact how they choose to invest, thinking 27 00:01:25,319 --> 00:01:27,240 Speaker 1: they might do better in the long run. But before 28 00:01:27,240 --> 00:01:29,360 Speaker 1: we get to that, Matt, let's talk about the Built Card. 29 00:01:30,160 --> 00:01:32,360 Speaker 1: It's one of the best credit cards out there. We've 30 00:01:32,360 --> 00:01:36,000 Speaker 1: talked about specifically for renters. So homeowners, Sorry, you can't 31 00:01:36,040 --> 00:01:39,440 Speaker 1: get rewarded for paying your mortgage with a credit card? Yeah, 32 00:01:39,560 --> 00:01:40,800 Speaker 1: but renters and can. 33 00:01:40,920 --> 00:01:43,320 Speaker 2: And for a while there we were saying, hey, homeowners, 34 00:01:43,480 --> 00:01:46,160 Speaker 2: hang time, because maybe this will be something that becomes 35 00:01:46,520 --> 00:01:49,520 Speaker 2: an option for you. It's looking like that's less or 36 00:01:49,560 --> 00:01:52,120 Speaker 2: less going to be an option. That's not going to happen. 37 00:01:52,160 --> 00:01:53,640 Speaker 2: It's not going to happen. And why is that not 38 00:01:53,680 --> 00:01:56,280 Speaker 2: going to happen? Well, it's the reason it's not going 39 00:01:56,320 --> 00:01:59,320 Speaker 2: to happen is because the Built Card is losing the 40 00:01:59,480 --> 00:02:02,760 Speaker 2: issuing which as well as Fargo ten million dollars a month. 41 00:02:02,920 --> 00:02:05,600 Speaker 2: There was a profile in the Wall Street Journal specifically 42 00:02:05,640 --> 00:02:09,600 Speaker 2: about this card, and obviously it's been a boon for renters. 43 00:02:09,600 --> 00:02:13,400 Speaker 2: They're you know, earning points and significant amounts of cash 44 00:02:13,440 --> 00:02:16,560 Speaker 2: back on a no fee credit card. This doesn't come 45 00:02:16,600 --> 00:02:19,440 Speaker 2: with an annual fee, and so for renters out there, 46 00:02:19,440 --> 00:02:21,520 Speaker 2: the bill card is like one you should have in 47 00:02:21,560 --> 00:02:23,840 Speaker 2: your wallet. How long will it be around? That remains 48 00:02:23,840 --> 00:02:26,480 Speaker 2: to be seen because the bank is getting screwed because 49 00:02:26,760 --> 00:02:30,720 Speaker 2: they made prognostications about the type of people who would 50 00:02:30,840 --> 00:02:32,640 Speaker 2: open one of these cards up and what they have 51 00:02:32,720 --> 00:02:35,960 Speaker 2: found is the folks using this credit card have pretty 52 00:02:36,120 --> 00:02:37,080 Speaker 2: healthy finances. 53 00:02:37,120 --> 00:02:39,000 Speaker 1: They aren't keeping a balance well, So. 54 00:02:39,160 --> 00:02:41,040 Speaker 2: I think it's less about having healthy find it like, 55 00:02:41,080 --> 00:02:43,440 Speaker 2: think about it, like, how do banks actually make money? 56 00:02:43,480 --> 00:02:45,360 Speaker 2: Like yes, like you've got your anual fees, but you 57 00:02:45,440 --> 00:02:48,120 Speaker 2: make money on the balances that you don't pay off, right, 58 00:02:48,200 --> 00:02:51,000 Speaker 2: Like you the idea from the bank's point of view, 59 00:02:51,000 --> 00:02:52,840 Speaker 2: I'm thinking like an evil bank, right, I got my 60 00:02:52,919 --> 00:02:56,600 Speaker 2: monocle in my eye, and you want folks to have 61 00:02:56,639 --> 00:02:58,200 Speaker 2: plastic and go out there and to rack up a 62 00:02:58,200 --> 00:03:00,600 Speaker 2: bunch of charges that you're not necessarily planning on and 63 00:03:00,639 --> 00:03:02,960 Speaker 2: then oh the statement hits and you're like, oh, dang it, 64 00:03:02,960 --> 00:03:05,440 Speaker 2: I don't have enough money to pay this off. You 65 00:03:05,560 --> 00:03:07,960 Speaker 2: carry a balance boom, you're paying interest in the banks 66 00:03:08,040 --> 00:03:08,840 Speaker 2: making money, and the. 67 00:03:08,760 --> 00:03:10,320 Speaker 1: Bank says you're a good customer. 68 00:03:10,440 --> 00:03:12,960 Speaker 2: Exactly. But what charge are we talking about here that 69 00:03:13,000 --> 00:03:16,359 Speaker 2: folks are opening or applying for the bill card specifically 70 00:03:16,360 --> 00:03:20,800 Speaker 2: for their rent that is not a surprise payment like that. 71 00:03:21,080 --> 00:03:23,239 Speaker 2: Literally they're called renters like it's built into the name, 72 00:03:23,560 --> 00:03:26,200 Speaker 2: the name of folks who are renting apartments, and so 73 00:03:26,280 --> 00:03:29,360 Speaker 2: it's just I don't think there's any other monthly expense 74 00:03:29,400 --> 00:03:31,880 Speaker 2: that folks are so used to paying if you are 75 00:03:31,960 --> 00:03:34,160 Speaker 2: a renter, as opposed to something that you might see 76 00:03:34,160 --> 00:03:36,720 Speaker 2: on the shelf or there's a sale, folks are prepared 77 00:03:37,040 --> 00:03:39,440 Speaker 2: to pay off that balance people in every single month. 78 00:03:39,440 --> 00:03:42,080 Speaker 2: People who get that card, they're using it for rent payments, 79 00:03:42,120 --> 00:03:43,960 Speaker 2: and I don't think they're using it for a whole 80 00:03:43,960 --> 00:03:44,360 Speaker 2: lot else. 81 00:03:44,440 --> 00:03:46,240 Speaker 1: I think we've talked about it. It's their quote unquote 82 00:03:46,280 --> 00:03:48,200 Speaker 1: rent card, right exactly. And there are other things you 83 00:03:48,240 --> 00:03:51,000 Speaker 1: can use it for than be I think like paying 84 00:03:51,000 --> 00:03:53,560 Speaker 1: for your cell phone service with the bill card. That's 85 00:03:53,680 --> 00:03:56,160 Speaker 1: nice because it comes with that cell phone protection. It's 86 00:03:56,160 --> 00:03:58,080 Speaker 1: one of the best credit cards for cel phone protection too. 87 00:03:58,480 --> 00:04:02,040 Speaker 1: But yeah, it's the Wells Fargo is shocked that they're 88 00:04:02,080 --> 00:04:03,600 Speaker 1: losing so much money, should be shocked though. 89 00:04:03,640 --> 00:04:05,240 Speaker 2: That's I guess that's that's what I'm thinking. 90 00:04:05,240 --> 00:04:06,720 Speaker 1: I don't know. I think they've inked this deal for 91 00:04:06,800 --> 00:04:08,080 Speaker 1: years to come, so they're not gonna be able to 92 00:04:08,080 --> 00:04:10,520 Speaker 1: get out of this perpetual money losing situation. It's just 93 00:04:10,560 --> 00:04:13,720 Speaker 1: another reminder. Yes, the bank's losing money, but maybe you, 94 00:04:13,880 --> 00:04:15,760 Speaker 1: if you're a renter, should help them lose even more 95 00:04:15,760 --> 00:04:18,320 Speaker 1: money and go sign up for this card because it's 96 00:04:18,360 --> 00:04:20,400 Speaker 1: the only way to actually get rewarded for paying your rent. 97 00:04:20,720 --> 00:04:22,839 Speaker 1: There has been no other card before this, and they're. 98 00:04:22,640 --> 00:04:26,159 Speaker 2: Probably because they're going to learn from Wills Fargo's mistakes. 99 00:04:26,160 --> 00:04:28,200 Speaker 2: It's almost as if the branding worked too well, Like 100 00:04:28,240 --> 00:04:30,880 Speaker 2: they branded it too hard as the only car that 101 00:04:30,920 --> 00:04:33,000 Speaker 2: you can put your int on, and if you have 102 00:04:33,120 --> 00:04:36,040 Speaker 2: siloed that card, it's no wonder that they're losing money 103 00:04:36,080 --> 00:04:39,360 Speaker 2: because folks are they're using it as a tool, and 104 00:04:39,440 --> 00:04:42,240 Speaker 2: they're like they're using that card judiciously as opposed to 105 00:04:42,320 --> 00:04:45,360 Speaker 2: getting sucked into how you would typically spend when you're 106 00:04:45,400 --> 00:04:47,880 Speaker 2: shopping online. You know, it's like it's the opposite of 107 00:04:47,960 --> 00:04:51,400 Speaker 2: like Klarna or four monthly installments. 108 00:04:51,440 --> 00:04:53,159 Speaker 1: Yeah, I'm not shocked at this. I don't think you 109 00:04:53,200 --> 00:04:56,560 Speaker 1: are either, but it's just how how badly this has 110 00:04:56,600 --> 00:04:58,960 Speaker 1: played out for the banks, and how well it's played 111 00:04:58,960 --> 00:05:01,120 Speaker 1: out for consumers is impressive. 112 00:05:02,040 --> 00:05:05,279 Speaker 2: Who's losing money more Washington Post on a daily basis 113 00:05:05,400 --> 00:05:07,000 Speaker 2: or Wells Fargo with the built card. 114 00:05:07,080 --> 00:05:09,919 Speaker 1: It's probably the Washington Post, but it's it's close. But 115 00:05:10,000 --> 00:05:13,280 Speaker 1: we'll actually link to the review that we have up 116 00:05:13,279 --> 00:05:15,279 Speaker 1: on how to money dot Com of the Built card. 117 00:05:15,520 --> 00:05:17,600 Speaker 1: Matt and I homeowners, we can't take advantage of this, 118 00:05:17,640 --> 00:05:19,960 Speaker 1: but if you're a renter, you might still find And 119 00:05:20,000 --> 00:05:21,480 Speaker 1: I think there's still a lot of years left that 120 00:05:21,520 --> 00:05:24,560 Speaker 1: this that Wells Fargo and built are tied together, so 121 00:05:24,680 --> 00:05:26,200 Speaker 1: it's not like it's going away soon, but it might 122 00:05:26,240 --> 00:05:29,440 Speaker 1: go away in the future. But while the Sunshine and Maky. 123 00:05:29,200 --> 00:05:31,200 Speaker 2: I wouldn't be surprised too. If it's in the find 124 00:05:31,279 --> 00:05:33,560 Speaker 2: type that they can change the different payouts. So we'll 125 00:05:33,600 --> 00:05:36,320 Speaker 2: see maybe, but for now it exists. All right, let's 126 00:05:36,320 --> 00:05:37,840 Speaker 2: move ont. Let's get to the Friday Flight. It's a 127 00:05:37,880 --> 00:05:40,360 Speaker 2: quick sampling of stories we found interesting this week. We've 128 00:05:40,360 --> 00:05:42,000 Speaker 2: already kind of started the Friday Flight, I guess, so 129 00:05:42,040 --> 00:05:44,479 Speaker 2: that was kind of a time a little more newsworthy. 130 00:05:44,520 --> 00:05:46,640 Speaker 1: All right, well, let's talk about one of our favorite 131 00:05:46,800 --> 00:05:49,520 Speaker 1: cheap travel hacks. Now we've talked about this, but we 132 00:05:49,520 --> 00:05:52,080 Speaker 1: haven't talked about it in a long time. Megabus, it's the 133 00:05:52,520 --> 00:05:54,400 Speaker 1: one of the cheapest ways to get around the country 134 00:05:54,560 --> 00:05:57,200 Speaker 1: is by taking a bus. We're so used to taking flights, 135 00:05:57,240 --> 00:05:59,320 Speaker 1: and flights have you gone down dramatically in price in 136 00:05:59,360 --> 00:05:59,960 Speaker 1: recent years? 137 00:06:00,279 --> 00:06:00,719 Speaker 2: I get that. 138 00:06:00,800 --> 00:06:04,240 Speaker 1: I just booked some Southwest flights recently on a sale 139 00:06:04,279 --> 00:06:06,680 Speaker 1: they had a couple of weeks ago. Well, Megabus is 140 00:06:06,680 --> 00:06:10,200 Speaker 1: filed for bankruptcy, and a single tear came to my 141 00:06:10,279 --> 00:06:13,000 Speaker 1: eye when I read that, because I have enjoyed a 142 00:06:13,040 --> 00:06:15,720 Speaker 1: few trips on Megabus. Myself has been a Megabus patron. Yeah, 143 00:06:15,760 --> 00:06:17,280 Speaker 1: it's been a while, but I'm like, I want them 144 00:06:17,279 --> 00:06:19,279 Speaker 1: to be around. I'll probably use it in the future 145 00:06:19,279 --> 00:06:22,320 Speaker 1: at some point, but unlow you won't You really. 146 00:06:22,200 --> 00:06:24,280 Speaker 2: Think you'll use them in the future, Yeah, for sure. Okay, 147 00:06:24,320 --> 00:06:26,360 Speaker 2: do they have seats as low as a dollar? And 148 00:06:26,839 --> 00:06:28,400 Speaker 2: it's I think, I just you don't have. 149 00:06:28,320 --> 00:06:30,760 Speaker 1: To go through the rigamarole of security getting the airport, 150 00:06:31,160 --> 00:06:31,560 Speaker 1: if it's a. 151 00:06:31,560 --> 00:06:33,480 Speaker 2: Little to get to the actual bus stop. If you're 152 00:06:33,480 --> 00:06:36,159 Speaker 2: sitting there, it takes so much longer. Like we always 153 00:06:36,160 --> 00:06:38,240 Speaker 2: talk about how your time is worth money, and like, 154 00:06:38,279 --> 00:06:40,520 Speaker 2: I think it's a decent option for folks who might 155 00:06:40,560 --> 00:06:42,839 Speaker 2: have a like have some additional time. But like, but 156 00:06:42,880 --> 00:06:44,760 Speaker 2: it's not even sometimes you'll give it a shot, all right, 157 00:06:44,800 --> 00:06:46,760 Speaker 2: Sometimes it's additional time. 158 00:06:46,960 --> 00:06:49,000 Speaker 1: But guess what, when you're on a bus, you can 159 00:06:49,279 --> 00:06:50,920 Speaker 1: do a lot of other productive things. And there's Wi 160 00:06:51,000 --> 00:06:52,839 Speaker 1: Fi on that bush. So you do that on a 161 00:06:52,839 --> 00:06:54,760 Speaker 1: plane too, you can, but then you've got to go through, 162 00:06:54,800 --> 00:06:56,360 Speaker 1: like I just said, the security all that kind of 163 00:06:56,360 --> 00:06:58,280 Speaker 1: stuff depends how far you're going. If you're going on 164 00:06:58,320 --> 00:07:01,000 Speaker 1: like a five or six hour bus ride, well versus 165 00:07:01,600 --> 00:07:03,840 Speaker 1: a plane trip, well, the economics are better of the 166 00:07:03,880 --> 00:07:07,480 Speaker 1: bus and the time is about equal. And so yeah, 167 00:07:07,520 --> 00:07:12,040 Speaker 1: post COVID, the airline travel bounce back, but bus travel 168 00:07:12,040 --> 00:07:14,760 Speaker 1: hasn't seen the same resurgence, and so that is why 169 00:07:14,800 --> 00:07:17,360 Speaker 1: megabus is dealing with these financial issues. The good news 170 00:07:17,400 --> 00:07:20,080 Speaker 1: is though Megabus is going to remain in service while 171 00:07:20,080 --> 00:07:22,520 Speaker 1: they're filing for bankruptcy. So I don't know. I think 172 00:07:22,520 --> 00:07:25,080 Speaker 1: it's good. I think for regional travel, don't forget about 173 00:07:25,080 --> 00:07:28,320 Speaker 1: bus travel. And some people, Matt, they are cheaper like me, 174 00:07:28,440 --> 00:07:31,320 Speaker 1: and they're willing to, like, hey, save fifty bucks because 175 00:07:31,720 --> 00:07:34,560 Speaker 1: that's how much less expensive bus travel is. And guess what, 176 00:07:34,640 --> 00:07:36,400 Speaker 1: I can sleep on the bus, or I can get 177 00:07:36,440 --> 00:07:38,520 Speaker 1: some work done because there's a Wi Fi too. I 178 00:07:38,560 --> 00:07:40,200 Speaker 1: don't know. I think when you're taking trips in that 179 00:07:40,440 --> 00:07:43,560 Speaker 1: four to eight hour range, bus travel can be better 180 00:07:43,600 --> 00:07:44,440 Speaker 1: than driving in flying. 181 00:07:44,480 --> 00:07:45,960 Speaker 2: Well, I'm just gonna point out you can do work 182 00:07:45,960 --> 00:07:47,560 Speaker 2: on a plane. You can also sleep on a plane. 183 00:07:47,600 --> 00:07:50,120 Speaker 2: I would say better, perhaps even on the plane, because 184 00:07:50,120 --> 00:07:52,600 Speaker 2: you kind of got that nice plane drone going on 185 00:07:52,640 --> 00:07:54,960 Speaker 2: that somehow just puts me to sleep. And you mentioned 186 00:07:54,960 --> 00:07:57,280 Speaker 2: the one dollar like because you know they've got it 187 00:07:57,280 --> 00:08:00,800 Speaker 2: painted on the actual buses, and like the fact is, 188 00:08:00,880 --> 00:08:03,440 Speaker 2: like those seats are incredibly limited, like sometimes it's only 189 00:08:03,640 --> 00:08:06,640 Speaker 2: like a single seat on an entire bus route in 190 00:08:06,720 --> 00:08:08,160 Speaker 2: order for them to be able to advertise that. 191 00:08:08,200 --> 00:08:10,480 Speaker 1: I just looked up a recent round trip fair though, 192 00:08:10,520 --> 00:08:12,040 Speaker 1: and it wasn't dollar seats, but it would have been 193 00:08:12,040 --> 00:08:14,160 Speaker 1: forty bucks round trip to the destination. I was thinking, 194 00:08:14,200 --> 00:08:16,000 Speaker 1: I guess, I'm like a similar plane flight could have 195 00:08:16,000 --> 00:08:18,280 Speaker 1: been one to eighty So you're talking about a significant gap. 196 00:08:18,160 --> 00:08:21,320 Speaker 2: Possibly, Yeah, I guess for folks though, who have a 197 00:08:21,680 --> 00:08:24,280 Speaker 2: like a solid vehicle, like you're going to take your car, and. 198 00:08:24,240 --> 00:08:27,800 Speaker 1: So specifically a lot more than that smifically multitask in 199 00:08:27,800 --> 00:08:28,440 Speaker 1: the same way in a. 200 00:08:28,440 --> 00:08:30,600 Speaker 2: Car like that's per ticket, right, And so if. 201 00:08:30,560 --> 00:08:32,400 Speaker 1: You're because you're not interested, and it doesn't mean other 202 00:08:32,400 --> 00:08:33,040 Speaker 1: people aren't. 203 00:08:33,320 --> 00:08:35,040 Speaker 2: I think other people might. But also if you have 204 00:08:35,080 --> 00:08:37,520 Speaker 2: your own vehicle, like the convenience of having all your 205 00:08:37,520 --> 00:08:40,480 Speaker 2: stuff in your own vehicle, especially the more people you 206 00:08:40,559 --> 00:08:42,240 Speaker 2: pile into the vehicle, like it makes me think of 207 00:08:42,280 --> 00:08:44,599 Speaker 2: like in college, like when you would go on a 208 00:08:44,679 --> 00:08:46,679 Speaker 2: road trip. The more the merrier, because that's just another 209 00:08:46,720 --> 00:08:49,320 Speaker 2: person that can ship into the cost of gas. But 210 00:08:49,480 --> 00:08:51,319 Speaker 2: I think especially for folks who might live in a 211 00:08:51,320 --> 00:08:53,920 Speaker 2: bigger city who don't have a car, this is the 212 00:08:53,960 --> 00:08:56,960 Speaker 2: affordable option absolutely. But for folks who have a car, man, 213 00:08:57,080 --> 00:09:00,199 Speaker 2: I can't imagine there are too many folks who are thinking, oh, yeah, 214 00:09:00,200 --> 00:09:02,000 Speaker 2: I want to catch a ride an uber, get a friend, 215 00:09:02,080 --> 00:09:03,600 Speaker 2: drop me off at the bus stop so I can 216 00:09:03,760 --> 00:09:06,280 Speaker 2: save twenty bucks, when instead I can just hop in 217 00:09:06,280 --> 00:09:07,800 Speaker 2: the car and it's gonna be more than twenty bucks. 218 00:09:08,040 --> 00:09:10,960 Speaker 1: It just it depends. It can be expensive and run 219 00:09:11,000 --> 00:09:14,559 Speaker 1: the numbers. But bus travel underrated all right, Speaking of traveling, 220 00:09:14,559 --> 00:09:16,680 Speaker 1: the mat. If you are traveling by plane and you're 221 00:09:16,840 --> 00:09:19,800 Speaker 1: thinking about going internationally, it's crucial to check your passport 222 00:09:19,920 --> 00:09:24,200 Speaker 1: expiration date. My older sister found herself in a conundrum 223 00:09:24,280 --> 00:09:26,920 Speaker 1: the other the other day she bought the plane ticket 224 00:09:27,160 --> 00:09:29,600 Speaker 1: for herself and for her son to go travel down 225 00:09:29,600 --> 00:09:33,680 Speaker 1: to Panama, and her son got stranded at home because 226 00:09:33,800 --> 00:09:37,800 Speaker 1: they had an updated his passport. And so it's really 227 00:09:37,800 --> 00:09:40,360 Speaker 1: crucial to do well in advance of your trip, because, yeah, 228 00:09:40,360 --> 00:09:42,360 Speaker 1: you don't want that money to go to waste. We 229 00:09:42,400 --> 00:09:45,079 Speaker 1: talked a while back about the State Department allowing for 230 00:09:45,160 --> 00:09:48,400 Speaker 1: the online renewal of passports, and I actually got in 231 00:09:48,480 --> 00:09:51,439 Speaker 1: on that during the very small window that they had 232 00:09:51,440 --> 00:09:54,040 Speaker 1: that available. It was like this short lived pilot program. 233 00:09:54,080 --> 00:09:57,240 Speaker 1: But they have resuscitated it. It's back and it's a 234 00:09:57,240 --> 00:09:59,160 Speaker 1: big time saver. So you got to be over the 235 00:09:59,200 --> 00:10:00,959 Speaker 1: age of twenty five to have had a passport for 236 00:10:00,960 --> 00:10:03,319 Speaker 1: at least ten years. And the State Department says they're 237 00:10:03,320 --> 00:10:06,360 Speaker 1: going to have a limited number of slots available for 238 00:10:06,480 --> 00:10:09,640 Speaker 1: online renewal each day. So our advice to you is 239 00:10:09,679 --> 00:10:12,440 Speaker 1: to get up early, get that application submitted if you 240 00:10:12,520 --> 00:10:15,400 Speaker 1: need to renew your passport. It's so much better than 241 00:10:15,480 --> 00:10:17,960 Speaker 1: driving somewhere waiting in line, which is what you had 242 00:10:18,000 --> 00:10:20,840 Speaker 1: to do, sadly, Matt. So it is the online. We 243 00:10:20,880 --> 00:10:23,040 Speaker 1: can do so many things online now, renewing the passport. 244 00:10:23,120 --> 00:10:25,080 Speaker 1: It just makes sense and it's going to, like I 245 00:10:25,120 --> 00:10:27,480 Speaker 1: think it's going to make renewing your passport much less 246 00:10:27,480 --> 00:10:27,960 Speaker 1: of a hassle. 247 00:10:28,000 --> 00:10:29,800 Speaker 2: So yeah, I think I waited close to an hour, 248 00:10:29,880 --> 00:10:32,160 Speaker 2: although that was last year when travel was super hot. 249 00:10:32,200 --> 00:10:35,120 Speaker 2: Travels down this year. So if you don't happen to 250 00:10:35,120 --> 00:10:37,640 Speaker 2: be able to do it online, maybe it won't be quite. 251 00:10:37,480 --> 00:10:38,920 Speaker 1: As bad for you, but at least look into it. 252 00:10:38,960 --> 00:10:41,440 Speaker 2: But while we're talking about traveling, the Journal just wrote 253 00:10:41,440 --> 00:10:45,520 Speaker 2: about how good airlines are at upselling their passengers. They've 254 00:10:45,559 --> 00:10:48,679 Speaker 2: been decoupling the price of the ticket as well as 255 00:10:48,800 --> 00:10:52,599 Speaker 2: extra conveniences for years now, and the price of the 256 00:10:52,640 --> 00:10:55,000 Speaker 2: ticket now gets your button the seat, but it doesn't 257 00:10:55,000 --> 00:10:57,160 Speaker 2: get you a whole lot else. If you want to 258 00:10:57,200 --> 00:10:59,599 Speaker 2: be able to pick your specific seat, that's going to 259 00:10:59,640 --> 00:11:01,720 Speaker 2: be an extra or twenty bucks. If you want to 260 00:11:01,960 --> 00:11:04,240 Speaker 2: be at the front of the line, well you're gonna 261 00:11:04,240 --> 00:11:07,040 Speaker 2: pay for that as well. The cost of a something 262 00:11:07,280 --> 00:11:09,880 Speaker 2: beyond like a small backpack that you can shove into 263 00:11:09,920 --> 00:11:12,800 Speaker 2: the little metal box that's obviously going to uh if 264 00:11:12,840 --> 00:11:14,280 Speaker 2: you do it there at the gate, is going to 265 00:11:14,360 --> 00:11:16,280 Speaker 2: cost you, like even maybe more than the ticket. 266 00:11:16,480 --> 00:11:17,920 Speaker 1: We saw that in our last trip. A couple of 267 00:11:18,000 --> 00:11:20,600 Speaker 1: yesaw their bags fit, they didn't quite fit, and then. 268 00:11:20,480 --> 00:11:23,079 Speaker 2: They had two additional bags, like eighty bucks a pop. 269 00:11:23,160 --> 00:11:25,040 Speaker 1: No, it was one hundred. They spent two hundred bucks. 270 00:11:25,400 --> 00:11:27,640 Speaker 2: A lot of money. But here's the thing we're not 271 00:11:27,679 --> 00:11:30,720 Speaker 2: We're not highlighting this because we dislike it. Actually, personally, 272 00:11:30,800 --> 00:11:32,320 Speaker 2: I think this is a great thing because it gives 273 00:11:32,400 --> 00:11:33,359 Speaker 2: you optionality. 274 00:11:33,440 --> 00:11:35,400 Speaker 1: Like in our our backsit we didn't have to pay well. 275 00:11:35,280 --> 00:11:38,880 Speaker 2: Because we knew ahead of sign But the ability essentially 276 00:11:38,960 --> 00:11:40,920 Speaker 2: to not pay for a bunch of extras that you're 277 00:11:40,920 --> 00:11:43,840 Speaker 2: not going to take advantage of gives people the ability 278 00:11:43,880 --> 00:11:46,240 Speaker 2: to travel for less when maybe otherwise they would not 279 00:11:46,280 --> 00:11:48,200 Speaker 2: be able to take that flight. Like if you are 280 00:11:48,240 --> 00:11:51,160 Speaker 2: the one taking advantage of all the goodies, all the extras, okay, 281 00:11:51,320 --> 00:11:53,960 Speaker 2: well maybe you're actually making out like a bandit, But 282 00:11:54,520 --> 00:11:56,439 Speaker 2: like I don't necessarily want to subsidize a guy in 283 00:11:56,480 --> 00:12:00,520 Speaker 2: front of me, like chucking cokes or like the supply 284 00:12:00,600 --> 00:12:03,720 Speaker 2: of snacks on like a three hour flight when instead 285 00:12:03,760 --> 00:12:06,320 Speaker 2: I might go with an option that allows me to 286 00:12:06,720 --> 00:12:09,439 Speaker 2: decouple the price of the ticket from those additional perks. 287 00:12:09,440 --> 00:12:12,760 Speaker 1: And really what that means is for savvy travelers, more money. 288 00:12:13,040 --> 00:12:15,320 Speaker 1: You're able to save more money you can funnel towards 289 00:12:15,480 --> 00:12:18,280 Speaker 1: additional trips. If that's your jams right, all right, So 290 00:12:18,360 --> 00:12:21,160 Speaker 1: this is not a dental advice map, but on the 291 00:12:21,200 --> 00:12:24,600 Speaker 1: note of travel, people should consider open jaw to save money. 292 00:12:24,679 --> 00:12:27,440 Speaker 1: We talked about open jaw very much. No, yeah, it 293 00:12:27,440 --> 00:12:29,360 Speaker 1: sounds like something a dentist would take you to open 294 00:12:29,360 --> 00:12:31,440 Speaker 1: your jaw. Well, what is an open jaw trip? 295 00:12:31,480 --> 00:12:33,400 Speaker 2: Actually, no, the dentistas that close your jaw like you're 296 00:12:33,400 --> 00:12:34,720 Speaker 2: supposed to breathe through your nose. 297 00:12:35,200 --> 00:12:36,840 Speaker 1: No, but they have to open it so they can 298 00:12:37,000 --> 00:12:39,480 Speaker 1: open your mouth. Yes, they can clean it if you're close. 299 00:12:39,840 --> 00:12:41,800 Speaker 1: If your jaw is closed, they can't really do much 300 00:12:41,800 --> 00:12:44,120 Speaker 1: with your teeth, right, gotcha, got you gotta do some work. Well, 301 00:12:44,240 --> 00:12:46,400 Speaker 1: open jaw flights or when you fly into one city 302 00:12:46,440 --> 00:12:49,480 Speaker 1: and out of another, and it can save you hundreds 303 00:12:49,480 --> 00:12:53,120 Speaker 1: of dollars taking this strategy. This could work particularly well 304 00:12:53,200 --> 00:12:54,880 Speaker 1: for like, let's say a trip to Europe that you 305 00:12:54,920 --> 00:12:57,440 Speaker 1: might be planning because that way, not only does it 306 00:12:57,480 --> 00:12:59,520 Speaker 1: potentially save you money, but you don't have to navigate 307 00:12:59,559 --> 00:13:02,200 Speaker 1: back to starting city if you're planning on bouncing around 308 00:13:02,240 --> 00:13:04,880 Speaker 1: to multiple spots. And yeah, the money saving is the 309 00:13:04,880 --> 00:13:06,360 Speaker 1: thing we care about the most, because all it takes 310 00:13:06,440 --> 00:13:10,720 Speaker 1: is some planning, some flexibility, some creativity in searching four 311 00:13:10,760 --> 00:13:13,959 Speaker 1: flights to and from multiple destinations on a site like 312 00:13:14,000 --> 00:13:16,360 Speaker 1: Google Flights that can help you take your trip for 313 00:13:16,440 --> 00:13:18,199 Speaker 1: far less than you might have thought on the front end, 314 00:13:18,440 --> 00:13:21,640 Speaker 1: like hey, yep, I'll maybe I'll fly into Rome and 315 00:13:21,679 --> 00:13:24,880 Speaker 1: then I'll fly out of Amsterdam and check and seat 316 00:13:24,960 --> 00:13:28,640 Speaker 1: like some do some searches, like spend thirty minutes checking 317 00:13:28,720 --> 00:13:32,120 Speaker 1: a bunch of destinations to and from and you might 318 00:13:32,120 --> 00:13:33,960 Speaker 1: find Wait, I thought my trip to Europe was gonna 319 00:13:34,000 --> 00:13:35,800 Speaker 1: cost me nine hundred and fifty bucks. Oh, it's only 320 00:13:35,840 --> 00:13:37,600 Speaker 1: gonna cost me six to fifty if I plan it 321 00:13:37,600 --> 00:13:40,679 Speaker 1: out this way. And I think, yeah, that incentive makes 322 00:13:40,720 --> 00:13:41,800 Speaker 1: me want to do some creative search. 323 00:13:41,880 --> 00:13:44,280 Speaker 2: It's funny that you mentioned in Italy because that's literally 324 00:13:44,440 --> 00:13:47,720 Speaker 2: turns out I've been an open jaw travel did you 325 00:13:47,760 --> 00:13:49,800 Speaker 2: didn't share why it's called open jaw? So it's called 326 00:13:49,800 --> 00:13:52,680 Speaker 2: open jaw because imagine like a sideways V, like a 327 00:13:52,720 --> 00:13:56,480 Speaker 2: greater greater than symbol, Like basically you're flying in and 328 00:13:56,520 --> 00:13:58,599 Speaker 2: out of a different city essentially, so it kind of 329 00:13:58,640 --> 00:14:01,000 Speaker 2: looks like an open mouth. That's exactly what I did 330 00:14:01,679 --> 00:14:04,280 Speaker 2: when we backpacked Italy back when I was in college. 331 00:14:04,320 --> 00:14:07,280 Speaker 2: We flew into Milan because at least at the time, 332 00:14:07,320 --> 00:14:10,600 Speaker 2: that was the absolute cheapest flight, and then we popped around, like, 333 00:14:10,640 --> 00:14:13,720 Speaker 2: we checked flights out of Italy from different cities, and 334 00:14:13,760 --> 00:14:15,880 Speaker 2: it turned out that flying out of Venice was going 335 00:14:15,960 --> 00:14:18,079 Speaker 2: to be the most affordable option. So we're like, boom, 336 00:14:18,440 --> 00:14:21,440 Speaker 2: that's what we're flying in and what seven days later 337 00:14:21,440 --> 00:14:23,200 Speaker 2: we're flying out of there? Yeah, what we do in 338 00:14:23,200 --> 00:14:23,840 Speaker 2: the middle. 339 00:14:23,640 --> 00:14:26,240 Speaker 1: So it's up to us, Right, that's totally the way 340 00:14:26,240 --> 00:14:28,760 Speaker 1: to do it. Just because most people book straight up 341 00:14:28,840 --> 00:14:31,520 Speaker 1: round trip to and from the same destination. Just because 342 00:14:31,560 --> 00:14:33,320 Speaker 1: that is the norm doesn't mean it's the way you're 343 00:14:33,320 --> 00:14:34,280 Speaker 1: going to save the most money. 344 00:14:34,400 --> 00:14:36,920 Speaker 2: All Right. Here is some news that actually may not 345 00:14:36,960 --> 00:14:39,080 Speaker 2: be news to you if you are a part of 346 00:14:39,120 --> 00:14:42,600 Speaker 2: an HOA, but they can be unpredictable, especially if you've 347 00:14:42,920 --> 00:14:45,160 Speaker 2: I don't know how to run in with your hoa. 348 00:14:44,960 --> 00:14:47,600 Speaker 1: If you still got your Christmas decorations up, you deserve 349 00:14:47,680 --> 00:14:48,840 Speaker 1: the notices you're getting. 350 00:14:48,760 --> 00:14:52,320 Speaker 2: All right, This is an extreme example, but Yahoo Finance 351 00:14:52,360 --> 00:14:56,440 Speaker 2: they published an article about a Florida condo association that's 352 00:14:56,560 --> 00:14:59,960 Speaker 2: levying a six figure special assessment. 353 00:15:00,040 --> 00:15:00,960 Speaker 1: Hundred thousand dollars. 354 00:15:01,200 --> 00:15:04,480 Speaker 2: It's like one hundred and thirty four thousand dollars per unit. 355 00:15:05,040 --> 00:15:07,640 Speaker 2: There's a new law in Florida and they're forcing older 356 00:15:07,720 --> 00:15:11,680 Speaker 2: condo complexes to shore up their structural or potential structural issues. 357 00:15:12,400 --> 00:15:14,400 Speaker 2: This is, of course, in the wake of the surf 358 00:15:14,480 --> 00:15:17,520 Speaker 2: Side condo collapse. Gosh, how long ago was that now a. 359 00:15:17,480 --> 00:15:18,080 Speaker 1: Couple of years. 360 00:15:18,160 --> 00:15:22,840 Speaker 2: But those updates they can be insanely expensive, causing many 361 00:15:22,960 --> 00:15:26,840 Speaker 2: to just leave to vacate their condos instead of forking 362 00:15:26,880 --> 00:15:29,440 Speaker 2: of a massive chunk of change because they can't afford it. 363 00:15:29,920 --> 00:15:32,840 Speaker 2: But then on top of that, potential buyers they're wary too, 364 00:15:32,880 --> 00:15:36,520 Speaker 2: which means sales price are shrinking. So we are We're 365 00:15:36,520 --> 00:15:38,600 Speaker 2: pointing this out because sixty percent of new builds these 366 00:15:38,680 --> 00:15:42,960 Speaker 2: days come with an HOA, and depending on your opinion, 367 00:15:43,120 --> 00:15:46,080 Speaker 2: like there are certainly pros to having an HOA, but 368 00:15:46,480 --> 00:15:49,600 Speaker 2: there's cons too. Of course, the financial side of it, 369 00:15:49,720 --> 00:15:52,720 Speaker 2: and so we want folks to be careful. Look at 370 00:15:52,720 --> 00:15:55,360 Speaker 2: the financial standing of your HOA, look at the reserves, 371 00:15:55,400 --> 00:15:58,200 Speaker 2: make sure there are reserves. Maybe even talk to somebody 372 00:15:58,200 --> 00:16:02,000 Speaker 2: that's either on the board, maybe talk to other residents 373 00:16:02,080 --> 00:16:05,560 Speaker 2: that are under that HOA before you move forward, because 374 00:16:05,600 --> 00:16:07,600 Speaker 2: if not, it could come back to bite you. 375 00:16:07,920 --> 00:16:11,160 Speaker 1: And it might sound nice that, oh man, the monthly agoafe, 376 00:16:11,800 --> 00:16:14,120 Speaker 1: it's so small. It's one hundred and twelve dollars a 377 00:16:14,160 --> 00:16:15,480 Speaker 1: month or something like that, and look at all the 378 00:16:15,480 --> 00:16:18,160 Speaker 1: amenities it comes with, but that could be an artificially 379 00:16:18,240 --> 00:16:20,440 Speaker 1: low amount. Makes My mother in law bought a condo, 380 00:16:20,840 --> 00:16:23,640 Speaker 1: like I guess, this was probably ten years ago in Atlanta, 381 00:16:24,000 --> 00:16:27,520 Speaker 1: and she found out quickly that that low hoafe, well, 382 00:16:27,520 --> 00:16:29,240 Speaker 1: they hadn't bumped it up in a long time, and 383 00:16:29,280 --> 00:16:31,080 Speaker 1: so then they had a deferred maintenance, a lot of 384 00:16:31,080 --> 00:16:34,520 Speaker 1: deferred maintenance, and then they had the levy a special assessment. 385 00:16:34,760 --> 00:16:36,560 Speaker 1: Not six figures fortunately, but I want to say it 386 00:16:36,600 --> 00:16:38,920 Speaker 1: was like six thousand dollars. So if you're not planning 387 00:16:38,960 --> 00:16:42,200 Speaker 1: for that, it can derail you. Right Like most people, 388 00:16:42,320 --> 00:16:44,000 Speaker 1: they're not equipped to handle that. And you have to 389 00:16:44,040 --> 00:16:47,840 Speaker 1: realize that's a possibility with homeowner associations. We actually have 390 00:16:47,880 --> 00:16:49,880 Speaker 1: a new article up on the site that we'll link 391 00:16:49,920 --> 00:16:52,560 Speaker 1: to about the pros and cons of hoas it can 392 00:16:52,600 --> 00:16:55,800 Speaker 1: potentially help protect your property value, but can also on 393 00:16:55,800 --> 00:16:58,640 Speaker 1: the flip side, cost you a lot of money and 394 00:16:58,680 --> 00:17:00,720 Speaker 1: you might get hit with a giant bill that you 395 00:17:00,760 --> 00:17:01,360 Speaker 1: weren't expecting. 396 00:17:01,440 --> 00:17:04,040 Speaker 2: Yeah. Plus, so we're talking about the financial side of it, 397 00:17:04,080 --> 00:17:05,919 Speaker 2: but don't forget about like all the drama side of 398 00:17:05,960 --> 00:17:09,000 Speaker 2: things as well. Oh yeah, you're signing up for There's 399 00:17:09,040 --> 00:17:10,960 Speaker 2: just a whole lot more that goes into it. And honestly, 400 00:17:11,040 --> 00:17:13,800 Speaker 2: that is hoa's or I always say, the lack of 401 00:17:13,840 --> 00:17:16,080 Speaker 2: an HOA where we currently live, like that is one 402 00:17:16,080 --> 00:17:18,600 Speaker 2: of the that's a big reason why we're not considering 403 00:17:18,600 --> 00:17:20,480 Speaker 2: some of these other neighborhoods that are near us and 404 00:17:20,560 --> 00:17:22,800 Speaker 2: instead we're about to renovate our homes because we don't 405 00:17:22,800 --> 00:17:24,760 Speaker 2: have an HOA, which means we have the freedom and 406 00:17:24,800 --> 00:17:29,200 Speaker 2: the autonomy to do not exactly like whatever we wanted, 407 00:17:29,240 --> 00:17:31,679 Speaker 2: but within the city rules and stuff. Yeah, exactly like 408 00:17:31,720 --> 00:17:34,880 Speaker 2: within good days. Like dude, some neighborhoods like you can't 409 00:17:34,920 --> 00:17:38,159 Speaker 2: even put playhouses or structures in it, like in your backyard, 410 00:17:38,200 --> 00:17:40,000 Speaker 2: not the front yard like in the backyard. 411 00:17:40,080 --> 00:17:42,040 Speaker 1: Well, one of my friends he bought a condo down 412 00:17:42,119 --> 00:17:46,200 Speaker 1: in Florida and the HOA was so poorly runs. He said, 413 00:17:46,240 --> 00:17:48,440 Speaker 1: the only way that I could that things could turn 414 00:17:48,480 --> 00:17:51,439 Speaker 1: around is if I ran for president. He ran for president. 415 00:17:51,600 --> 00:17:53,760 Speaker 1: Now he's got a part time job being the HOA president. 416 00:17:53,760 --> 00:17:55,520 Speaker 1: This takes twenty to twenty five hours a week of 417 00:17:55,560 --> 00:17:58,520 Speaker 1: his time. It's insane, and but thank you, But that's 418 00:17:58,560 --> 00:18:01,679 Speaker 1: his investment, Like he hasn't investment of this condo, and 419 00:18:01,760 --> 00:18:04,439 Speaker 1: the only way to make sure that his investment stays 420 00:18:04,480 --> 00:18:06,719 Speaker 1: intact is to put in all this time and effort 421 00:18:06,800 --> 00:18:09,679 Speaker 1: to turn things around. So yes, hoas can be a 422 00:18:09,680 --> 00:18:11,720 Speaker 1: blessing or a curse. And you just have to have 423 00:18:11,800 --> 00:18:14,800 Speaker 1: your eyes wide open before you buy a home inside 424 00:18:14,920 --> 00:18:17,600 Speaker 1: of an HOA neighborhood. And that's just one of the 425 00:18:17,720 --> 00:18:20,560 Speaker 1: rising costs of home ownership, many of which feel hidden 426 00:18:20,560 --> 00:18:23,720 Speaker 1: from people these days. We all know about higher home prices, 427 00:18:23,800 --> 00:18:26,560 Speaker 1: higher interest rates, but the annual cost of home maintenance 428 00:18:26,560 --> 00:18:29,080 Speaker 1: has increased by almost thirty percent over the past few 429 00:18:29,160 --> 00:18:31,800 Speaker 1: years too. Bank Rate just did a study. They found 430 00:18:31,800 --> 00:18:34,639 Speaker 1: that the average homeowner is spending eighteen thousand dollars a 431 00:18:34,720 --> 00:18:39,199 Speaker 1: year in taxes, insurance, utilities and repairs, and renters, they 432 00:18:39,240 --> 00:18:41,720 Speaker 1: obviously have to pay for utilities and insurance too, although 433 00:18:41,920 --> 00:18:45,720 Speaker 1: their insurance renters insurance is so much cheaper than homeowner's insurance. 434 00:18:46,000 --> 00:18:49,000 Speaker 1: But it's crucial to budget for these costs if you 435 00:18:49,040 --> 00:18:51,200 Speaker 1: want to own a home. It's another reason I would 436 00:18:51,240 --> 00:18:54,680 Speaker 1: say renting isn't throwing away money. I think home ownership 437 00:18:54,840 --> 00:18:56,840 Speaker 1: is a great goal, but you also have to realize 438 00:18:56,840 --> 00:19:00,000 Speaker 1: that they're additional costs beyond the mortgage, significant additional costs. 439 00:19:00,320 --> 00:19:03,159 Speaker 2: We want folks to make informed decisions. Joel, while we 440 00:19:03,200 --> 00:19:05,919 Speaker 2: are talking about real estate, let's talk about real estate 441 00:19:06,040 --> 00:19:10,000 Speaker 2: investments for a second, and specifically it's talk about real 442 00:19:10,080 --> 00:19:12,720 Speaker 2: estate syndication deals, because that's not something I don't think 443 00:19:12,760 --> 00:19:14,919 Speaker 2: we've talked about at all, or much at all, at 444 00:19:15,000 --> 00:19:16,920 Speaker 2: least maybe with on the show Braindon Turner back today. 445 00:19:17,080 --> 00:19:19,760 Speaker 2: Oh yeah, that's right. But like bottom line, one of 446 00:19:19,800 --> 00:19:22,080 Speaker 2: the reasons we don't discuss these often is because they're 447 00:19:22,160 --> 00:19:26,200 Speaker 2: they're only available to accredited investors, which means folks who 448 00:19:26,280 --> 00:19:28,320 Speaker 2: either have like a really large net worth or a 449 00:19:28,359 --> 00:19:31,199 Speaker 2: sky high income. But Bloomberg They had an article this 450 00:19:31,280 --> 00:19:35,000 Speaker 2: week about how many of these syndication deals are unraveling 451 00:19:35,320 --> 00:19:38,480 Speaker 2: because of the higher interest rates because unlike your primary 452 00:19:38,480 --> 00:19:41,800 Speaker 2: home financing, for these bigger real estate deals, it's not 453 00:19:41,880 --> 00:19:44,040 Speaker 2: locked in for the same duration, and so what that 454 00:19:44,119 --> 00:19:47,440 Speaker 2: means is that it is less insulated from the rising 455 00:19:47,520 --> 00:19:51,080 Speaker 2: rates that we've been experiencing, and investors are they're finding 456 00:19:51,119 --> 00:19:54,160 Speaker 2: out the hard way as quarterly payments they're drawing up, 457 00:19:54,240 --> 00:19:58,640 Speaker 2: they're capitals now at risk. And again, we want folks 458 00:19:58,640 --> 00:20:01,880 Speaker 2: to be informed. Like the syndication deals, they're not the devil, 459 00:20:02,080 --> 00:20:05,480 Speaker 2: but the devil is in the details. And these they're 460 00:20:05,480 --> 00:20:07,040 Speaker 2: just not quite as hot as they were a couple 461 00:20:07,040 --> 00:20:09,440 Speaker 2: of years ago as rates were lower, and so we 462 00:20:09,520 --> 00:20:12,080 Speaker 2: want folks to be incredibly cautious with this type of investment. 463 00:20:12,200 --> 00:20:14,800 Speaker 1: Yeah, there are a lot of real estate influencers out there, Matt, 464 00:20:14,800 --> 00:20:18,200 Speaker 1: who wants you to think that real estate syndication it's 465 00:20:18,280 --> 00:20:20,480 Speaker 1: this private investment that other people don't want you to 466 00:20:20,520 --> 00:20:22,960 Speaker 1: know about. And it's a really laid back way to 467 00:20:23,040 --> 00:20:24,639 Speaker 1: invest in real estate that you don't have to get 468 00:20:24,680 --> 00:20:27,800 Speaker 1: your hands dirty buying your own property. But as people 469 00:20:27,840 --> 00:20:31,400 Speaker 1: are seeing when the economic environment shifts, some syndication deals 470 00:20:31,400 --> 00:20:34,600 Speaker 1: are doing quite well because the operator did their due 471 00:20:34,600 --> 00:20:36,840 Speaker 1: diligence and they locked in solid financing terms for an 472 00:20:36,880 --> 00:20:38,840 Speaker 1: extended period of time. But a lot of the more 473 00:20:38,880 --> 00:20:42,840 Speaker 1: precarious syndication deals are falling flat and investors are losing money. 474 00:20:43,080 --> 00:20:45,240 Speaker 1: So yeah, just a warning for anybody out there who 475 00:20:45,359 --> 00:20:48,520 Speaker 1: is considering going that route. We've got more to get 476 00:20:48,520 --> 00:20:51,080 Speaker 1: to on this episode, including a prediction that we're in 477 00:20:51,080 --> 00:20:53,320 Speaker 1: a stock market bubble. We'll talk about that and more 478 00:20:53,480 --> 00:21:03,480 Speaker 1: right after this, but we are back from the break. 479 00:21:03,480 --> 00:21:06,199 Speaker 2: We got more personal finance goodness to get to today. 480 00:21:06,400 --> 00:21:09,439 Speaker 2: But let's go ahead and get to the ludicrous headline 481 00:21:09,440 --> 00:21:12,560 Speaker 2: of the week, and this one is from Business Insider. 482 00:21:12,640 --> 00:21:15,760 Speaker 2: The headline reads, can the stars predict the stock market? 483 00:21:16,240 --> 00:21:19,960 Speaker 2: Gen Z think? So you like my voice there? That's 484 00:21:20,000 --> 00:21:24,760 Speaker 2: my incredulous, stupid headline voice, because obviously, first of all, 485 00:21:25,240 --> 00:21:29,200 Speaker 2: the entire population, the entire gen Z generation, does not 486 00:21:29,400 --> 00:21:32,320 Speaker 2: think that astrology is gonna aid them in stock picking. 487 00:21:32,920 --> 00:21:35,800 Speaker 2: I bet a gen exer wrote that headline. That does 488 00:21:35,800 --> 00:21:37,399 Speaker 2: seem like a gen X kind of thing to do. 489 00:21:37,840 --> 00:21:39,879 Speaker 1: I just like stomp on the generation below me. 490 00:21:40,440 --> 00:21:43,960 Speaker 2: So the headline itself is annoying, but like it's also 491 00:21:44,040 --> 00:21:46,480 Speaker 2: true that some in the younger generation, maybe they are 492 00:21:46,520 --> 00:21:50,719 Speaker 2: looking for an investing edge and they are looking to astrology. 493 00:21:50,720 --> 00:21:54,200 Speaker 2: Maybe they're looking to tarot cards to advise them. And 494 00:21:54,480 --> 00:21:57,800 Speaker 2: one person who takes this tactic and this isn't the story, 495 00:21:57,840 --> 00:22:01,600 Speaker 2: they said, I tend to long the full moon, in short, 496 00:22:01,800 --> 00:22:02,440 Speaker 2: the new moon. 497 00:22:02,720 --> 00:22:03,880 Speaker 1: What do you do with the harvest moon? 498 00:22:04,080 --> 00:22:09,560 Speaker 2: Uh? What like? What does this even mean? It's just 499 00:22:09,720 --> 00:22:12,840 Speaker 2: it's ridiculous. It's hard to tell how widespread this sort 500 00:22:12,840 --> 00:22:15,280 Speaker 2: of approach is and what it is that you're letting 501 00:22:15,359 --> 00:22:18,080 Speaker 2: influence how it is that you invest. But if you're 502 00:22:18,080 --> 00:22:20,440 Speaker 2: in astrology, I think that's fine. You're in a crystals, 503 00:22:20,440 --> 00:22:23,400 Speaker 2: go for it, you do you, But similar to your politics, 504 00:22:23,480 --> 00:22:26,880 Speaker 2: don't let that influence your investments. Don't let it influence 505 00:22:27,000 --> 00:22:29,560 Speaker 2: how you invest when you get in and get out 506 00:22:29,600 --> 00:22:32,440 Speaker 2: of the market, or even why, like your long term 507 00:22:32,680 --> 00:22:35,320 Speaker 2: rationale and the reason behind what like what it is 508 00:22:35,320 --> 00:22:36,120 Speaker 2: that you're investing for. 509 00:22:36,160 --> 00:22:37,800 Speaker 1: And let's be honest, if you're a twenty five year 510 00:22:37,840 --> 00:22:40,200 Speaker 1: old and you think that you have special insight into 511 00:22:40,200 --> 00:22:43,680 Speaker 1: the stars and how that impacts the markets, well, don't 512 00:22:43,720 --> 00:22:45,280 Speaker 1: you think Neil de grasse Tyson would have figured this 513 00:22:45,320 --> 00:22:47,919 Speaker 1: out by now. Don't you think he would be the billionaire? 514 00:22:48,200 --> 00:22:50,600 Speaker 1: Like if there was some sort of rhyme or reason 515 00:22:51,040 --> 00:22:53,560 Speaker 1: to the movement of the planets and the sun and 516 00:22:53,600 --> 00:22:55,920 Speaker 1: the stars. Pretty sure that's the dude, Matt, who would 517 00:22:55,920 --> 00:22:59,119 Speaker 1: have capitalized on this. Not a person fresh out of college. 518 00:22:59,200 --> 00:23:01,720 Speaker 2: See, but he he understands the stars in a different 519 00:23:01,760 --> 00:23:03,399 Speaker 2: way than folks who are into astrology. 520 00:23:03,480 --> 00:23:06,080 Speaker 1: Dude, you know, like there's a spirit and there are 521 00:23:06,080 --> 00:23:09,040 Speaker 1: more advanced astrologers who would have this. I'm just saying. 522 00:23:09,200 --> 00:23:12,000 Speaker 2: But what they're saying is like, oh, I've I'm at 523 00:23:12,040 --> 00:23:15,639 Speaker 2: the intersection of astrology and investing. It's it's it's like 524 00:23:15,680 --> 00:23:18,520 Speaker 2: the Memestock generation of folks who think that this is 525 00:23:18,560 --> 00:23:20,080 Speaker 2: something that they can perhaps look to. 526 00:23:20,200 --> 00:23:23,080 Speaker 1: And I get the desire to increase your performance right there, 527 00:23:23,119 --> 00:23:26,360 Speaker 1: Like it's an understandable human desire. We talked about this too, Matt. 528 00:23:26,400 --> 00:23:29,760 Speaker 1: American exceptionalism almost demands that we not be average, and 529 00:23:29,880 --> 00:23:33,600 Speaker 1: so inside of investing, the line that we toe is 530 00:23:33,600 --> 00:23:36,800 Speaker 1: that average is the best thing for you. And I 531 00:23:36,800 --> 00:23:38,680 Speaker 1: get why people want to buck against that and they 532 00:23:38,680 --> 00:23:41,240 Speaker 1: want outsized returns. But it's hard to come by, and 533 00:23:41,359 --> 00:23:44,000 Speaker 1: these some of these just pie in the sky strategies 534 00:23:44,200 --> 00:23:45,639 Speaker 1: aren't going to help you get there, and in fact, 535 00:23:45,760 --> 00:23:48,040 Speaker 1: so much of the time you are going to lose 536 00:23:48,080 --> 00:23:53,399 Speaker 1: money by trying some novel theory of investing. Speaking of investing, 537 00:23:53,400 --> 00:23:56,440 Speaker 1: a new study from Northwestern Mutual finds that younger folks 538 00:23:56,520 --> 00:23:59,640 Speaker 1: are more open to AI money management tools than their 539 00:23:59,680 --> 00:24:04,120 Speaker 1: boom counterparts, although for most financial planning tasks, research also 540 00:24:04,160 --> 00:24:07,320 Speaker 1: showed that most people still prefer humans like fifty four 541 00:24:07,359 --> 00:24:11,600 Speaker 1: percent to just AI alone fifteen percent. And so obviously 542 00:24:11,640 --> 00:24:14,000 Speaker 1: AI is not like primetime. It's primetime for some things, 543 00:24:14,000 --> 00:24:17,920 Speaker 1: maybe for helping you with your writing tasks or search 544 00:24:17,920 --> 00:24:20,840 Speaker 1: results something like that. Well, AI is likely going to 545 00:24:20,840 --> 00:24:23,440 Speaker 1: be more of a help than a hindrance in the future, 546 00:24:23,680 --> 00:24:25,800 Speaker 1: particularly when it comes to some of these money tasks, 547 00:24:25,840 --> 00:24:29,000 Speaker 1: and we are seeing this transition in real time with 548 00:24:29,080 --> 00:24:32,120 Speaker 1: new fintech products. Taking a copilot Matt, it's a cool 549 00:24:32,119 --> 00:24:35,600 Speaker 1: budgeting tool, and they use artificial intelligence to help you 550 00:24:36,080 --> 00:24:41,400 Speaker 1: categorize transactions that are specific to your budget and your situation. 551 00:24:41,480 --> 00:24:44,360 Speaker 1: It gets smarter over time, right, makes that budgeting process 552 00:24:44,640 --> 00:24:48,480 Speaker 1: easier and more specific to you. Monarch money is another 553 00:24:48,480 --> 00:24:50,680 Speaker 1: one that we've talked about a great budgeting app. They 554 00:24:50,760 --> 00:24:54,280 Speaker 1: use AI to give you more personalized advice on their site. 555 00:24:54,440 --> 00:24:56,080 Speaker 1: You can ask it questions. It can help you set 556 00:24:56,119 --> 00:24:58,920 Speaker 1: goals or gain insights to your money at a deeper level. 557 00:24:59,280 --> 00:25:01,840 Speaker 1: But AI can also be like a marketing buzzword, and 558 00:25:01,880 --> 00:25:04,720 Speaker 1: so it makes me think of another fintech product, betterment. 559 00:25:04,960 --> 00:25:07,879 Speaker 1: They don't use artificial intelligence because what they've said is 560 00:25:07,880 --> 00:25:10,840 Speaker 1: that they found that simpler approaches are more effective for them. 561 00:25:11,440 --> 00:25:13,520 Speaker 1: I don't know, to boil it down, I guess I'm 562 00:25:13,560 --> 00:25:17,639 Speaker 1: excited about the potential, but I'm also wary of the 563 00:25:17,720 --> 00:25:20,240 Speaker 1: need for AI in a whole lot of the financial 564 00:25:20,240 --> 00:25:20,720 Speaker 1: realm too. 565 00:25:20,680 --> 00:25:22,159 Speaker 2: And so much of it I think is just marketing. 566 00:25:22,280 --> 00:25:24,919 Speaker 2: I mean, like, are these companies actually using AI or 567 00:25:24,960 --> 00:25:28,040 Speaker 2: are they just have they just updated their algorithms, Like right, 568 00:25:28,280 --> 00:25:30,720 Speaker 2: it's all the same, Like we've been complaining about algorithms, 569 00:25:30,720 --> 00:25:33,040 Speaker 2: and maybe that hasn't cause as much steam because I 570 00:25:33,080 --> 00:25:35,320 Speaker 2: don't know, it's not like this a brain new sector, 571 00:25:35,400 --> 00:25:38,280 Speaker 2: but like the whole just like the ads that were 572 00:25:38,280 --> 00:25:40,440 Speaker 2: fed via social media, it's like, Okay, that sounds a 573 00:25:40,440 --> 00:25:43,360 Speaker 2: lot like the AI that Monarch or Copilot has implemented 574 00:25:43,440 --> 00:25:45,680 Speaker 2: into their budgeting, and so much of it I think 575 00:25:45,760 --> 00:25:48,320 Speaker 2: is marketing and folks looking to cash in and to 576 00:25:48,400 --> 00:25:51,720 Speaker 2: show that they're forward thinking, they're you know, they're utilizing 577 00:25:51,760 --> 00:25:55,320 Speaker 2: technology in order to benefit their customers and to better 578 00:25:55,359 --> 00:25:55,800 Speaker 2: their products. 579 00:25:55,880 --> 00:25:58,480 Speaker 1: Yeah, but you're right, some of it is smoking mirrors. 580 00:25:58,520 --> 00:26:00,760 Speaker 2: That's what it feels like to me. And and specifically 581 00:26:00,800 --> 00:26:03,600 Speaker 2: I think because of chat GPT, because it has like 582 00:26:03,800 --> 00:26:07,240 Speaker 2: the way it gives you the information, it's like there's somebody, 583 00:26:07,320 --> 00:26:09,040 Speaker 2: you know, it's like there's some mine behind it. It's 584 00:26:09,080 --> 00:26:11,640 Speaker 2: like typing it out and you're seeing it, and it's 585 00:26:11,680 --> 00:26:15,959 Speaker 2: like that's it's just like incomplete Google results that are 586 00:26:15,960 --> 00:26:17,560 Speaker 2: being sort of fed to you in real time, you know, 587 00:26:17,600 --> 00:26:19,520 Speaker 2: and it's just formatted in such a way that looks 588 00:26:19,560 --> 00:26:21,199 Speaker 2: like there's somebody on the other end. But so much 589 00:26:21,240 --> 00:26:22,400 Speaker 2: of it I think is perception. 590 00:26:22,400 --> 00:26:24,640 Speaker 1: Even the new AI results with Google, when you see 591 00:26:24,680 --> 00:26:26,960 Speaker 1: that at the very top, it's linking to multiple articles 592 00:26:27,040 --> 00:26:28,520 Speaker 1: underneath ward's referencing them from and. 593 00:26:28,520 --> 00:26:29,600 Speaker 2: It's almost like the same old thing. 594 00:26:29,600 --> 00:26:31,720 Speaker 1: It's like the pull out they had before, which highlights 595 00:26:31,920 --> 00:26:34,239 Speaker 1: it takes information from one article different format though it's 596 00:26:34,240 --> 00:26:36,800 Speaker 1: a different format and that matters, And I guess how 597 00:26:36,800 --> 00:26:38,440 Speaker 1: it is that folks interpret, and I get that it's 598 00:26:38,440 --> 00:26:40,600 Speaker 1: a little different of how they may pull it off 599 00:26:40,640 --> 00:26:42,639 Speaker 1: on the back end, but yeah, it is. 600 00:26:42,960 --> 00:26:45,040 Speaker 2: I think it's I think it's overblown, by the way. 601 00:26:45,080 --> 00:26:48,080 Speaker 2: So we're talking about investing. Don't let the different talking 602 00:26:48,160 --> 00:26:51,440 Speaker 2: heads on TV influence how you invest either. There was 603 00:26:51,480 --> 00:26:55,359 Speaker 2: a segment over on Fox Business where the economist Harry 604 00:26:55,440 --> 00:26:58,560 Speaker 2: Dent not to be confused with Harvey Dent, but he 605 00:26:58,600 --> 00:27:01,639 Speaker 2: predicted a stock mark crash worse than the two thousand 606 00:27:01,680 --> 00:27:04,560 Speaker 2: and eight crisis. The bubbles of all bubbles is what 607 00:27:04,640 --> 00:27:07,919 Speaker 2: he called it. And he's predicting an eighty six percent 608 00:27:08,000 --> 00:27:12,200 Speaker 2: drop in the SMP. That's bad news, man, that'd be historic. Which, 609 00:27:12,400 --> 00:27:15,640 Speaker 2: of course, this then reminds me of the phrase about 610 00:27:15,640 --> 00:27:20,600 Speaker 2: econdomists predicting nine of the last three recessions. So we 611 00:27:20,640 --> 00:27:23,919 Speaker 2: think this is also overblown, because, yeah, the stock market 612 00:27:24,080 --> 00:27:28,280 Speaker 2: might experience a meaningful decline of twenty percent even more, 613 00:27:28,920 --> 00:27:31,560 Speaker 2: that certainly could happen. Can we predict that when it's 614 00:27:31,600 --> 00:27:34,360 Speaker 2: gonna happen. There's no way or if it'll happen. I'm 615 00:27:34,359 --> 00:27:36,080 Speaker 2: pretty sure mister Dent that he's not going to be 616 00:27:36,119 --> 00:27:38,680 Speaker 2: able to predict it either. So we're pointing this out 617 00:27:38,680 --> 00:27:40,520 Speaker 2: because we want you to stay the course. And it 618 00:27:40,520 --> 00:27:43,440 Speaker 2: also makes me think about the reason so many folks 619 00:27:43,480 --> 00:27:45,800 Speaker 2: get airtime like this is because when you're being cautious 620 00:27:46,920 --> 00:27:49,200 Speaker 2: and you're calling for a correction, it's like, Hey, the 621 00:27:49,240 --> 00:27:51,760 Speaker 2: good times they're not gonna they're not gonna last. How 622 00:27:51,840 --> 00:27:54,480 Speaker 2: is that person perceived? They're seen as wise, they're seen 623 00:27:54,520 --> 00:27:57,840 Speaker 2: as prudent, as opposed to let's take out what history 624 00:27:57,920 --> 00:27:59,960 Speaker 2: has actually shown us over the paste hundred years, which 625 00:28:00,119 --> 00:28:01,840 Speaker 2: is that the stock market goes up three out of 626 00:28:01,840 --> 00:28:04,000 Speaker 2: every four years. What do you do with that information? 627 00:28:04,080 --> 00:28:05,720 Speaker 2: Will you say, oh, okay, then I'm just going to 628 00:28:05,760 --> 00:28:08,600 Speaker 2: continue to invest no matter what. Well, what is the 629 00:28:08,640 --> 00:28:11,760 Speaker 2: summary of if you take that sort of mindset, Oh, 630 00:28:11,800 --> 00:28:15,280 Speaker 2: you're seen as naive, you're pollyannish at the very least, 631 00:28:15,560 --> 00:28:17,720 Speaker 2: being the most interous. You're seeing as just overly optimistic. 632 00:28:17,760 --> 00:28:20,800 Speaker 2: But that's the reality. But obviously that doesn't get the headline, 633 00:28:20,880 --> 00:28:21,680 Speaker 2: that doesn't get the clicks. 634 00:28:21,680 --> 00:28:23,159 Speaker 1: And I don't think it means that we're not seeing 635 00:28:23,200 --> 00:28:26,640 Speaker 1: any frothy behavior in the stock market or that there 636 00:28:26,760 --> 00:28:29,320 Speaker 1: isn't going to be some reversion to the meme because 637 00:28:29,320 --> 00:28:30,800 Speaker 1: I've seen outside gains over. 638 00:28:30,880 --> 00:28:32,800 Speaker 2: Talk to UST few years, Talk to me four years, yeah, 639 00:28:32,840 --> 00:28:34,760 Speaker 2: you know, talk to me after a decade. 640 00:28:34,800 --> 00:28:36,199 Speaker 1: I think if you're going to ask either of us, 641 00:28:36,200 --> 00:28:39,320 Speaker 1: will the stock market be at higher levels in four 642 00:28:39,360 --> 00:28:41,000 Speaker 1: years than it is today? I mean for sure? 643 00:28:41,360 --> 00:28:42,000 Speaker 2: Yes, yes? 644 00:28:42,160 --> 00:28:44,680 Speaker 1: Does that mean we won't experience a lot of volatility 645 00:28:44,680 --> 00:28:45,400 Speaker 1: in between. 646 00:28:45,120 --> 00:28:47,360 Speaker 2: In the daytime? We probably will, But it doesn't matter 647 00:28:47,520 --> 00:28:49,640 Speaker 2: because we're not investing for the short term. Yeah, we're 648 00:28:49,680 --> 00:28:51,000 Speaker 2: investing for the long term. That's right. 649 00:28:51,440 --> 00:28:54,200 Speaker 1: Let's talk about spaving math. Have you heard of this 650 00:28:54,280 --> 00:28:57,960 Speaker 1: term before? I did not until this article. Okay, so 651 00:28:57,960 --> 00:29:01,320 Speaker 1: it's another dumb trend cult spaving that the USA Today 652 00:29:01,400 --> 00:29:03,200 Speaker 1: highlighted this week. And I don't know, maybe this is 653 00:29:03,240 --> 00:29:05,400 Speaker 1: just another term that the young kids are using and 654 00:29:05,440 --> 00:29:07,080 Speaker 1: you and I are too old to realize it. Now 655 00:29:07,440 --> 00:29:11,040 Speaker 1: we are over the hill. That's always stupid terms. We'll 656 00:29:11,040 --> 00:29:13,040 Speaker 1: get us stay up to speed on our vocabulary, though. 657 00:29:13,280 --> 00:29:16,000 Speaker 1: And so this is a new term though for something 658 00:29:16,040 --> 00:29:16,640 Speaker 1: it's old. 659 00:29:16,480 --> 00:29:18,640 Speaker 2: For Joel, your riz is off the chain this morning. 660 00:29:19,640 --> 00:29:21,800 Speaker 1: I don't think he's say off the chain anymore? Run riz? 661 00:29:22,000 --> 00:29:26,080 Speaker 2: Yes, Well, I was combining the two. Okay, it's like, yes. 662 00:29:25,920 --> 00:29:28,960 Speaker 1: All right, I appreciate like it, Yeah, nicely done, but okay. 663 00:29:29,000 --> 00:29:31,720 Speaker 1: So spaving is a new term for the age old 664 00:29:31,800 --> 00:29:34,760 Speaker 1: belief that you can save more by spending more. Is 665 00:29:34,840 --> 00:29:37,080 Speaker 1: letting the buy one get one fifty percent off deal 666 00:29:37,280 --> 00:29:39,880 Speaker 1: triggered to buy two things when you only needed one 667 00:29:40,080 --> 00:29:43,120 Speaker 1: because it feels like you're saving more in the process. 668 00:29:43,560 --> 00:29:46,120 Speaker 1: Or it's spending more to hit a free shipping threshold 669 00:29:46,200 --> 00:29:48,360 Speaker 1: when you weren't planning on buying those additional items in 670 00:29:48,400 --> 00:29:51,080 Speaker 1: the first place. We've all been there. I too have 671 00:29:51,160 --> 00:29:52,960 Speaker 1: had my mind hijacked in that way, Matt, so I 672 00:29:53,000 --> 00:29:56,320 Speaker 1: think this is a normal human condition. It's also it's 673 00:29:56,360 --> 00:29:58,280 Speaker 1: I would say, it's like spending more to hit a 674 00:29:58,320 --> 00:30:00,680 Speaker 1: credit card welcome bonus. It's right that you can earn 675 00:30:00,680 --> 00:30:03,239 Speaker 1: the eighty five thousand Southwest miles right now. We'll put 676 00:30:03,280 --> 00:30:04,800 Speaker 1: a link to that show notes if you want to 677 00:30:05,320 --> 00:30:07,720 Speaker 1: the details on how to get the Southwest Companion Pass 678 00:30:07,880 --> 00:30:10,040 Speaker 1: easier than ever given how many miles are throwing out there. 679 00:30:10,080 --> 00:30:13,320 Speaker 2: I just booked a kate Is Colorado trip for for 680 00:30:13,400 --> 00:30:14,880 Speaker 2: later this fall. I guess how much it costs me 681 00:30:15,000 --> 00:30:18,200 Speaker 2: to buy that second ticket nothing nine dollars and thirty 682 00:30:18,240 --> 00:30:21,480 Speaker 2: cents just for whatever the tax nine eleven ye charge exactly. 683 00:30:21,560 --> 00:30:24,600 Speaker 1: So those Southwest points coming super handy. But it's only 684 00:30:24,640 --> 00:30:26,760 Speaker 1: worth signing up for the credit card if you're not 685 00:30:26,760 --> 00:30:29,360 Speaker 1: having to manufacture spending to get there, which means having 686 00:30:29,400 --> 00:30:32,560 Speaker 1: to spend more than your normal budget allows for putting 687 00:30:32,600 --> 00:30:34,880 Speaker 1: you into debt that you can't pay off. Right, And 688 00:30:34,960 --> 00:30:36,480 Speaker 1: so if you know you're going to use that item 689 00:30:36,640 --> 00:30:39,080 Speaker 1: and you have the funds, or if you're buying in bulk, 690 00:30:39,120 --> 00:30:42,640 Speaker 1: you're stocking up spending more now to prolong your next purchase, 691 00:30:42,680 --> 00:30:45,960 Speaker 1: that's fine, but watch out for the marketing attempts trying 692 00:30:45,960 --> 00:30:48,920 Speaker 1: to make it sound like buying more is going to 693 00:30:49,000 --> 00:30:51,680 Speaker 1: save you more, it's going to perk your frugal ears up, 694 00:30:51,760 --> 00:30:55,560 Speaker 1: especially if you somebody like me. But ultimately it's a letdown, 695 00:30:55,600 --> 00:30:57,280 Speaker 1: and it means you've spent more than you than you 696 00:30:57,320 --> 00:31:00,320 Speaker 1: otherwise would have. And I feel like nothing gets in 697 00:31:00,360 --> 00:31:02,760 Speaker 1: that zone, Matt, as much as Black Friday and all 698 00:31:02,800 --> 00:31:05,000 Speaker 1: those deals like oh, you're a dummy if you don't 699 00:31:05,000 --> 00:31:08,400 Speaker 1: spend money this way because it's saving you money, and 700 00:31:08,440 --> 00:31:08,760 Speaker 1: it's like. 701 00:31:08,720 --> 00:31:10,920 Speaker 2: Well, you actually need it, not really Nope. Yeah. It 702 00:31:10,920 --> 00:31:12,800 Speaker 2: makes me think of a recent article in the Atlantic 703 00:31:12,840 --> 00:31:15,920 Speaker 2: about the free trial trap, because, of course, who doesn't 704 00:31:15,960 --> 00:31:18,440 Speaker 2: want a free seven day trial or even like a 705 00:31:18,480 --> 00:31:21,640 Speaker 2: free month of service. But that offery doesn't exist out 706 00:31:21,640 --> 00:31:24,280 Speaker 2: of the goodness of that company's heart. It's a it's 707 00:31:24,320 --> 00:31:26,200 Speaker 2: a bait. It's to get a hook in your mouth. 708 00:31:26,480 --> 00:31:29,000 Speaker 2: And there's actually good news all the streaming front, because 709 00:31:29,000 --> 00:31:32,600 Speaker 2: we're seeing cancelations tick up to record numbers as the 710 00:31:32,720 --> 00:31:36,680 Speaker 2: different streaming services out there proliferate folks are realizing that 711 00:31:36,960 --> 00:31:39,640 Speaker 2: is eating up more of their monthly budget, and they're 712 00:31:39,680 --> 00:31:43,720 Speaker 2: cracking down the more folks are canceling everything like us, 713 00:31:43,920 --> 00:31:47,240 Speaker 2: they're opting to cancel a bit more indiscriminately at least. 714 00:31:47,240 --> 00:31:50,440 Speaker 2: But the free trial trap, man, the thing is real 715 00:31:50,520 --> 00:31:54,000 Speaker 2: because forgetting to cancel is costing folks big bucks. In 716 00:31:54,120 --> 00:31:56,320 Speaker 2: spider web, man, it's like it's more the fly, it's 717 00:31:56,360 --> 00:31:58,200 Speaker 2: a death by a thousand cuts because you don't think 718 00:31:58,200 --> 00:31:59,760 Speaker 2: it's that big of a deal, but all of those 719 00:31:59,760 --> 00:32:03,360 Speaker 2: things added up makes an impact. The US. They even 720 00:32:03,360 --> 00:32:06,560 Speaker 2: stued Adobe this week, did you see that over they 721 00:32:06,560 --> 00:32:09,960 Speaker 2: were making canceling too difficult for their customers. But It's 722 00:32:10,000 --> 00:32:12,880 Speaker 2: okay to try things before you buy, but don't forget, 723 00:32:12,920 --> 00:32:15,720 Speaker 2: like use a calendar reminder to ensure that you don't 724 00:32:15,760 --> 00:32:18,479 Speaker 2: forget to cancel that, like a couple of days at 725 00:32:18,560 --> 00:32:20,920 Speaker 2: least in advance, you know, because if you hit snows 726 00:32:20,960 --> 00:32:22,360 Speaker 2: or maybe if you click and drag it over to 727 00:32:22,360 --> 00:32:24,280 Speaker 2: the next day because you're like, ugh, I don't want 728 00:32:24,280 --> 00:32:26,600 Speaker 2: to do it today, give yourself a little bit of marginess. 729 00:32:27,120 --> 00:32:30,320 Speaker 2: There's a difference too, between again, between forgetting about it 730 00:32:30,400 --> 00:32:33,760 Speaker 2: versus just be becoming immune to those prices. And luckily, 731 00:32:33,920 --> 00:32:38,120 Speaker 2: more and more for folks are becoming less insulated from 732 00:32:38,160 --> 00:32:40,440 Speaker 2: those charges because there are so many of them, right, Like, 733 00:32:40,480 --> 00:32:43,240 Speaker 2: that's the thing. It's you know, you're talking about part 734 00:32:43,240 --> 00:32:45,480 Speaker 2: time jobs earlier, Like that's what it takes in order 735 00:32:45,560 --> 00:32:48,440 Speaker 2: to manage all of the different subscription services out there. 736 00:32:48,520 --> 00:32:51,000 Speaker 1: There's a reason they give you free access for a 737 00:32:51,000 --> 00:32:55,200 Speaker 1: limited time because they know most people aren't going to cancel, Matt. 738 00:32:55,200 --> 00:32:57,600 Speaker 1: They realize I think we gave that statistic not too 739 00:32:57,640 --> 00:32:59,760 Speaker 1: long ago about people who signed up for Peacock to 740 00:32:59,800 --> 00:33:03,400 Speaker 1: watch the Chiefs Dolphins game back in the fall, and 741 00:33:03,520 --> 00:33:05,840 Speaker 1: people are so excited about that, and they sign up 742 00:33:06,440 --> 00:33:09,520 Speaker 1: for Peacock and then they never cancel, and maybe that's 743 00:33:09,560 --> 00:33:11,400 Speaker 1: the only thing they've watched on that service, but they're 744 00:33:11,440 --> 00:33:14,600 Speaker 1: still paying for it. The same thing with a gym membership. Man, 745 00:33:14,680 --> 00:33:17,440 Speaker 1: does any industry do it better than the gyms. Let's 746 00:33:17,440 --> 00:33:20,000 Speaker 1: talk about groceries for a second, and maybe whether or 747 00:33:20,000 --> 00:33:22,600 Speaker 1: not you should drive more in an attempt to save more. 748 00:33:23,040 --> 00:33:25,959 Speaker 1: There was an article in the Wall Street Journal citing 749 00:33:25,960 --> 00:33:28,920 Speaker 1: that more Americans are shopping around to save money. They're 750 00:33:28,960 --> 00:33:32,480 Speaker 1: hitting up various retailers in order to snag the specials 751 00:33:32,480 --> 00:33:35,960 Speaker 1: at each given store, even driving the cheaper area codes 752 00:33:36,320 --> 00:33:39,200 Speaker 1: to shop at less expensive stores. So made me think, 753 00:33:39,240 --> 00:33:41,560 Speaker 1: Matt like Publics is a grocery chain out of Florida 754 00:33:41,560 --> 00:33:43,480 Speaker 1: that we have some of them here in Georgia, actually 755 00:33:43,520 --> 00:33:45,920 Speaker 1: a lot of them, and they have a slew of 756 00:33:46,080 --> 00:33:48,520 Speaker 1: Bogo offers every week by wing get one free deals. 757 00:33:48,960 --> 00:33:51,960 Speaker 1: Those items can be a really good price if you're 758 00:33:52,000 --> 00:33:54,400 Speaker 1: buying just those Bogo deals at Publics, but the normal 759 00:33:54,400 --> 00:33:57,760 Speaker 1: prices are higher than basically every other grocery chain out there. 760 00:33:57,920 --> 00:34:01,000 Speaker 1: Publics has nice stores, and they charge more for almost 761 00:34:01,040 --> 00:34:03,800 Speaker 1: every item on their shelves than the discount chains You 762 00:34:03,840 --> 00:34:05,920 Speaker 1: and I like to shop at. So I don't know, 763 00:34:06,000 --> 00:34:08,240 Speaker 1: maybe you want to hit up publics but just based 764 00:34:08,280 --> 00:34:11,439 Speaker 1: on the Bogo deals and then you go somewhere else 765 00:34:11,640 --> 00:34:14,399 Speaker 1: to get more of your other groceries. The best way 766 00:34:14,440 --> 00:34:17,200 Speaker 1: to plan out your grocery purchases is to use the 767 00:34:17,280 --> 00:34:21,480 Speaker 1: website basically a digital tool like flip dot com flipp 768 00:34:21,800 --> 00:34:24,200 Speaker 1: dot com, so you can see all the sales flyers 769 00:34:24,239 --> 00:34:27,480 Speaker 1: in one place. That'll help you create a grocery saving strategy. 770 00:34:27,480 --> 00:34:29,440 Speaker 1: If you're the kind of person who says I'm willing 771 00:34:29,480 --> 00:34:31,880 Speaker 1: to not just go to a one stop shop or 772 00:34:31,920 --> 00:34:33,719 Speaker 1: to drive further to get to the discount place, maybe 773 00:34:33,719 --> 00:34:35,000 Speaker 1: I want to hit up two or three spots. 774 00:34:35,040 --> 00:34:36,920 Speaker 2: Well that's I think that's the problem. That's my biggest 775 00:34:36,920 --> 00:34:38,960 Speaker 2: issue that I have with the journal with the headline, 776 00:34:39,040 --> 00:34:41,600 Speaker 2: which is them saying that hey, you can no longer 777 00:34:41,880 --> 00:34:44,200 Speaker 2: do the one stop shop. But that's not true. And 778 00:34:44,280 --> 00:34:47,640 Speaker 2: people they have so fallen into like they've fallen in 779 00:34:47,680 --> 00:34:49,319 Speaker 2: love with certain brands and they're like, oh, I got 780 00:34:49,320 --> 00:34:50,960 Speaker 2: to go to this store to get this because they're 781 00:34:51,000 --> 00:34:52,799 Speaker 2: the only place that sells that. I want to push 782 00:34:52,880 --> 00:34:55,040 Speaker 2: back on that a little bit, like you don't necessarily 783 00:34:55,080 --> 00:34:57,040 Speaker 2: need all the different options. You can just go to 784 00:34:57,120 --> 00:34:59,560 Speaker 2: Ald and not even look at the different deals at 785 00:34:59,560 --> 00:35:02,080 Speaker 2: the different grocery stores to save time and you you're 786 00:35:02,120 --> 00:35:03,520 Speaker 2: still going to save a ton of money. And I 787 00:35:03,560 --> 00:35:05,680 Speaker 2: know not everyone has an all D near them, but 788 00:35:05,719 --> 00:35:08,520 Speaker 2: they're dude. I feel like they're multiplying like rabbits, like 789 00:35:08,600 --> 00:35:10,759 Speaker 2: they're they're opening more and more of those stores are 790 00:35:10,760 --> 00:35:13,200 Speaker 2: opening all over the place. If you've never considered going 791 00:35:13,200 --> 00:35:15,000 Speaker 2: to an Aldi, you've got to check it out. 792 00:35:15,160 --> 00:35:18,640 Speaker 1: We're legal as well as a cousin to Aldi. That's 793 00:35:18,640 --> 00:35:19,399 Speaker 1: where we shot were. 794 00:35:19,440 --> 00:35:22,399 Speaker 2: It's we're slightly more complex, fancier cousin of Ald. 795 00:35:22,520 --> 00:35:26,360 Speaker 1: Is how I view letal. They're pretty similar legal and costco. 796 00:35:26,680 --> 00:35:29,279 Speaker 1: That's they get the bulk of our grocery dollars. But yeah, 797 00:35:29,520 --> 00:35:32,000 Speaker 1: I think the time and energy it takes and the 798 00:35:32,000 --> 00:35:34,080 Speaker 1: additional planning it takes to shop in a bunch of 799 00:35:34,120 --> 00:35:36,520 Speaker 1: different grocery stores, you got to figure out how much 800 00:35:36,520 --> 00:35:38,840 Speaker 1: are you actually saving and whether it's worth the hours 801 00:35:38,840 --> 00:35:41,839 Speaker 1: you're putting into. So that's why I'm going to a 802 00:35:41,840 --> 00:35:44,320 Speaker 1: place like all the or Legal, like trying to really 803 00:35:44,560 --> 00:35:47,200 Speaker 1: get the bulk of your stuff at one store, but 804 00:35:47,320 --> 00:35:49,600 Speaker 1: the cheapest store is probably the best, best, the way 805 00:35:49,600 --> 00:35:51,160 Speaker 1: to do it. Yeah, all right, Matt, that's going to 806 00:35:51,200 --> 00:35:53,680 Speaker 1: do it for this episode. Hope everyone out there has 807 00:35:53,880 --> 00:35:56,719 Speaker 1: a fantastic weekend. We'll links to all the resources we 808 00:35:56,800 --> 00:35:59,319 Speaker 1: mentioned in this episode up on our website and how 809 00:35:59,360 --> 00:35:59,719 Speaker 1: to Money. 810 00:36:00,400 --> 00:36:02,240 Speaker 2: Yes right, if you have not left us a review, 811 00:36:02,280 --> 00:36:04,200 Speaker 2: we would love for you to spend just a few 812 00:36:04,239 --> 00:36:06,840 Speaker 2: minutes of your weekend heading over to How to Money 813 00:36:06,880 --> 00:36:09,000 Speaker 2: wherever it is that you are listening to this podcast, 814 00:36:09,080 --> 00:36:12,200 Speaker 2: really just twenty seconds, that's true, and just mashing the 815 00:36:12,239 --> 00:36:14,800 Speaker 2: five stars. If you've found this episode, it would be 816 00:36:14,840 --> 00:36:18,120 Speaker 2: helpful and valuable. War my hearts, we thank you in advance. 817 00:36:18,239 --> 00:36:20,080 Speaker 2: But that's going to be it, buddy. Until next time, 818 00:36:20,280 --> 00:36:22,359 Speaker 2: Best Friends Out, Best Friends Out.