1 00:00:00,080 --> 00:00:02,920 Speaker 1: Welcome to how to Money. I'm Joel, I'm Matt. Today 2 00:00:02,960 --> 00:00:07,440 Speaker 1: we're talking moneyless millionaires, credit card churning, and AI goes 3 00:00:07,480 --> 00:00:08,119 Speaker 1: e commerce. 4 00:00:27,080 --> 00:00:29,240 Speaker 2: Of course, we've got to talk about a little bit 5 00:00:29,280 --> 00:00:29,600 Speaker 2: of AI. 6 00:00:29,840 --> 00:00:32,279 Speaker 3: Like it's just gonna be a recurring segment. It's kind 7 00:00:32,320 --> 00:00:35,920 Speaker 3: of ongoing in perpetuity until the AI tells us to stop. 8 00:00:36,920 --> 00:00:39,879 Speaker 1: And we will obey our AI overlords at every turn. Well, 9 00:00:39,920 --> 00:00:42,360 Speaker 1: I think it's it's kind of like when tariffs were 10 00:00:42,360 --> 00:00:44,360 Speaker 1: just starting out too. It's like wen are talking about 11 00:00:44,360 --> 00:00:46,559 Speaker 1: it every week because it was a thing and it's 12 00:00:46,560 --> 00:00:48,720 Speaker 1: still happening, and they will impact our holidays, and I'm 13 00:00:48,720 --> 00:00:50,559 Speaker 1: sure we'll talk about it again. But AI just there's 14 00:00:50,560 --> 00:00:51,640 Speaker 1: a lot going on right now. 15 00:00:51,760 --> 00:00:54,120 Speaker 3: Yeah, that is true. But it's another beautiful morning, Joel. 16 00:00:54,480 --> 00:00:57,160 Speaker 3: We didn't coordinate our runs this morning. By the way, 17 00:00:57,240 --> 00:00:58,640 Speaker 3: did you go for a run this morning? 18 00:00:58,720 --> 00:01:01,560 Speaker 2: No? Still okay, Brady, which, oh my gosh. So yeah. 19 00:01:01,560 --> 00:01:03,760 Speaker 3: We talked last week about doing our couple's run. And 20 00:01:03,840 --> 00:01:07,399 Speaker 3: I can't believe that I didn't wish you wellishes for 21 00:01:07,480 --> 00:01:10,880 Speaker 3: your upcoming marathon last weekend. First one, I didn't wish 22 00:01:10,880 --> 00:01:13,000 Speaker 3: you good luck and what would have been fun. 23 00:01:12,880 --> 00:01:15,440 Speaker 2: I knew you felt it in your heart. I didn't. 24 00:01:15,760 --> 00:01:18,760 Speaker 3: I'm sorry if I would. If I would have, I 25 00:01:18,760 --> 00:01:21,440 Speaker 3: would have said it completely. I totally blanked and didn't 26 00:01:21,440 --> 00:01:23,880 Speaker 3: think about it until later that afternoon, where I was like, 27 00:01:23,880 --> 00:01:25,959 Speaker 3: oh my gosh, you got the race on, you know, 28 00:01:26,000 --> 00:01:27,800 Speaker 3: on Sunday. But I would have loved it because I 29 00:01:27,800 --> 00:01:30,240 Speaker 3: would love for you to have like live streamed it, 30 00:01:30,560 --> 00:01:32,679 Speaker 3: and then for all of our listeners to send you 31 00:01:32,680 --> 00:01:36,240 Speaker 3: a little encouraging notes, like if they could have live 32 00:01:36,560 --> 00:01:39,040 Speaker 3: tracked where you were and how fast you're running. It's 33 00:01:39,040 --> 00:01:41,679 Speaker 3: like Joe, you don't need to stop for water, keep moving, bro. 34 00:01:42,319 --> 00:01:43,880 Speaker 1: The only thing would have made it more painful is 35 00:01:43,880 --> 00:01:45,800 Speaker 1: if I tried to run it with like a selfie 36 00:01:45,880 --> 00:01:47,840 Speaker 1: stick and bidding myself. 37 00:01:48,480 --> 00:01:50,440 Speaker 3: Which sometimes you do see people doing that, like on 38 00:01:50,480 --> 00:01:52,080 Speaker 3: a ten K. Did you see anything like that? 39 00:01:53,200 --> 00:01:55,280 Speaker 1: No. I did see where I passed out on the 40 00:01:55,280 --> 00:01:57,720 Speaker 1: side of the road, like yeah, non responsive, and I 41 00:01:57,840 --> 00:01:58,160 Speaker 1: was like. 42 00:01:58,560 --> 00:02:00,400 Speaker 2: We need a medic over here. 43 00:02:00,480 --> 00:02:02,680 Speaker 1: He was getting he was getting help he needed. Okay, yeah, 44 00:02:02,880 --> 00:02:05,200 Speaker 1: tough to watch. Okay, let's talk about running for a second. 45 00:02:05,280 --> 00:02:07,880 Speaker 1: Can we talk about so I will mention I did 46 00:02:08,000 --> 00:02:11,320 Speaker 1: run a marathon this past weekend. It was my first 47 00:02:11,320 --> 00:02:14,360 Speaker 1: marathon of all time. You did great, I did well. 48 00:02:14,639 --> 00:02:16,760 Speaker 1: I guess he's your goal that you're going for, So 49 00:02:17,160 --> 00:02:17,960 Speaker 1: I was happy with that. 50 00:02:17,960 --> 00:02:18,400 Speaker 2: That's a win. 51 00:02:18,880 --> 00:02:21,280 Speaker 1: Big thanks to listener Greg by the way, who ran 52 00:02:21,280 --> 00:02:23,600 Speaker 1: the same marathon. This was his one hundred and fourth marathon. 53 00:02:23,639 --> 00:02:26,520 Speaker 1: Because Greg is I did not know that an absolute beast, 54 00:02:26,520 --> 00:02:28,520 Speaker 1: Oh my god, and he helped me. I don't think 55 00:02:28,520 --> 00:02:31,000 Speaker 1: I would have done nearly as well if it wasn't 56 00:02:31,040 --> 00:02:33,320 Speaker 1: for like Greg. It almost felt like I had like 57 00:02:33,320 --> 00:02:35,520 Speaker 1: the you know, he lets you pick it back. Yeah, 58 00:02:36,280 --> 00:02:37,840 Speaker 1: it was almost felt like one of those monkey backpacks 59 00:02:37,880 --> 00:02:40,080 Speaker 1: where I'm holding onto the tail and he was dragging 60 00:02:40,160 --> 00:02:42,600 Speaker 1: me all the way. But it was more of like 61 00:02:42,880 --> 00:02:45,880 Speaker 1: verbal kindness that dragged me along so and and just 62 00:02:45,960 --> 00:02:50,080 Speaker 1: his like persistent spirits. So but yes, it's a painful endeavor. 63 00:02:50,200 --> 00:02:53,440 Speaker 1: But it made me think too, matt Like upon this accomplishment. 64 00:02:53,480 --> 00:02:56,720 Speaker 1: I was reflecting on it. There was an article about 65 00:02:56,720 --> 00:02:59,000 Speaker 1: the running industrial complex, and I was like, this is 66 00:02:59,080 --> 00:03:01,600 Speaker 1: kind of something actively trying to fight as someone who's 67 00:03:01,600 --> 00:03:03,959 Speaker 1: gotten kind of deep into the running space. 68 00:03:04,120 --> 00:03:06,600 Speaker 3: Good luck fighting it. It's gonna be tough. 69 00:03:06,680 --> 00:03:09,560 Speaker 1: It's tough, man, it's tough. But the Business Insider had 70 00:03:09,560 --> 00:03:12,120 Speaker 1: this article that kind of spoke to me as someone 71 00:03:12,320 --> 00:03:14,880 Speaker 1: who has finally gotten around to enjoying running over the 72 00:03:14,880 --> 00:03:19,760 Speaker 1: past two years. Hated it beforehand, but man, running is 73 00:03:19,800 --> 00:03:22,480 Speaker 1: this sport in its essence, it's like the purest, one 74 00:03:22,480 --> 00:03:24,160 Speaker 1: of the purest things you can do as a human, 75 00:03:24,440 --> 00:03:26,440 Speaker 1: like walking and running. Right, They're like some of our 76 00:03:26,480 --> 00:03:30,079 Speaker 1: most basic instincts. But it feels like running is starting 77 00:03:30,080 --> 00:03:33,680 Speaker 1: to get hijacked by this American consumer mentality. It feels 78 00:03:33,720 --> 00:03:38,520 Speaker 1: like everything pure starts to starts to go in that direction, 79 00:03:39,040 --> 00:03:41,160 Speaker 1: because all you really need is a decent pair of 80 00:03:41,160 --> 00:03:44,200 Speaker 1: shoes and a even just like a Kirkland signature disposable 81 00:03:44,240 --> 00:03:45,960 Speaker 1: water bottle. They costs like a quarter when you buy 82 00:03:46,000 --> 00:03:49,040 Speaker 1: them in the big packs, or maybe even less. But 83 00:03:49,120 --> 00:03:51,360 Speaker 1: now we've got super shoes, we've got high end gels, 84 00:03:51,400 --> 00:03:54,400 Speaker 1: we've got fancy watches, recovery tools, like all this kind 85 00:03:54,440 --> 00:03:57,800 Speaker 1: of stuff in the running space, and so many people 86 00:03:57,840 --> 00:04:01,440 Speaker 1: are turning like the simplest an action into this overly 87 00:04:01,840 --> 00:04:04,640 Speaker 1: expensive hobby. And I think this is is partly because 88 00:04:04,880 --> 00:04:08,160 Speaker 1: of tailored ads seeking you out on the social media's 89 00:04:08,360 --> 00:04:11,000 Speaker 1: Like I've been getting these ads for and I don't. 90 00:04:11,080 --> 00:04:13,280 Speaker 3: Everything running huh yeah, everything right now, there we go. 91 00:04:13,320 --> 00:04:14,240 Speaker 3: That's why I said good luck. 92 00:04:14,320 --> 00:04:18,680 Speaker 1: Even these even these like gummies that have THHC in them, 93 00:04:18,960 --> 00:04:20,920 Speaker 1: they've been feeding I'm like, I don't partake, but. 94 00:04:21,680 --> 00:04:23,800 Speaker 2: They've been inundating me with these gummies. Like this is 95 00:04:23,800 --> 00:04:25,040 Speaker 2: what's gonna make you run awesome? 96 00:04:25,160 --> 00:04:27,400 Speaker 3: Is the idea that you don't feel any of the pain. 97 00:04:27,440 --> 00:04:30,159 Speaker 3: I totally blissed out and you're setting prs. 98 00:04:30,240 --> 00:04:30,760 Speaker 2: I guess. 99 00:04:30,880 --> 00:04:33,000 Speaker 1: I mean, if that's actually the case, I'm not sure 100 00:04:33,000 --> 00:04:36,120 Speaker 1: you consider it. But uh, like these tailored ads, and 101 00:04:36,120 --> 00:04:38,360 Speaker 1: then I think that I think there's also the pressure 102 00:04:38,440 --> 00:04:41,320 Speaker 1: you feel as other people are nerding out on on 103 00:04:41,720 --> 00:04:46,920 Speaker 1: like getting stuff for running. But I think it's eminently 104 00:04:46,920 --> 00:04:50,120 Speaker 1: possible to enjoy the activity you're doing without overdoing it 105 00:04:50,160 --> 00:04:52,240 Speaker 1: on the stuff thing. It just makes me think of 106 00:04:52,320 --> 00:04:54,159 Speaker 1: our friend of the show, Michael Easter. He talks about 107 00:04:54,160 --> 00:04:57,560 Speaker 1: gear versus stuff. There's certain gear that you might, uh 108 00:04:57,720 --> 00:04:59,960 Speaker 1: that might be like helpful to you as a runner, 109 00:05:00,320 --> 00:05:02,600 Speaker 1: but then don't let it turn into just like buying 110 00:05:02,680 --> 00:05:04,480 Speaker 1: stuff and accumulating more stuff. 111 00:05:04,560 --> 00:05:06,800 Speaker 3: Yeah, well some people like the stuff, you know, and 112 00:05:06,800 --> 00:05:08,599 Speaker 3: that's the thing. They're doing it because they enjoy it, 113 00:05:08,600 --> 00:05:10,240 Speaker 3: but it's not necessary. And I think that's what you're 114 00:05:10,279 --> 00:05:12,359 Speaker 3: getting out that you can literally you don't need a 115 00:05:12,400 --> 00:05:14,120 Speaker 3: new pair of shoes even just you can put on 116 00:05:14,160 --> 00:05:16,160 Speaker 3: a pair of walking shoes or running shoes that you 117 00:05:16,200 --> 00:05:19,039 Speaker 3: already own and go for a jog. That's how you 118 00:05:19,080 --> 00:05:20,400 Speaker 3: get to start to be a runner. 119 00:05:20,480 --> 00:05:23,760 Speaker 1: I do feel a special satisfaction when I'm passing someone 120 00:05:23,839 --> 00:05:26,080 Speaker 1: in their two hundred and something dollars super shoes in 121 00:05:26,160 --> 00:05:28,120 Speaker 1: my thirty dollars Adida shoes, like I just. 122 00:05:28,200 --> 00:05:28,800 Speaker 2: All decked out. 123 00:05:28,920 --> 00:05:31,400 Speaker 3: Yeah, maybe I love it passing them in my eBay 124 00:05:32,240 --> 00:05:34,159 Speaker 3: running shoes that I just actually purchased. 125 00:05:34,880 --> 00:05:37,320 Speaker 2: Did we talk about this? They're brand new? I didn't know. 126 00:05:37,360 --> 00:05:39,839 Speaker 2: eBay was still Oh, I think you're talking about East Bay. 127 00:05:39,880 --> 00:05:41,440 Speaker 2: That was kind of ok. 128 00:05:41,480 --> 00:05:44,280 Speaker 3: Yeah, we've talked about the sports shoes. No, my eBay 129 00:05:44,320 --> 00:05:47,599 Speaker 3: shoes my shoes Okay, Oh of course, well they were used, 130 00:05:47,600 --> 00:05:49,560 Speaker 3: but they were like new, I mean, and you can 131 00:05:49,560 --> 00:05:52,920 Speaker 3: always tell a good shoe seller on eBay will put 132 00:05:52,920 --> 00:05:55,320 Speaker 3: a picture a closer picture of the tread and when 133 00:05:55,360 --> 00:05:57,839 Speaker 3: you can see not only the trend still there, but 134 00:05:57,920 --> 00:06:00,960 Speaker 3: even the slight texture that they'll put on the. 135 00:06:00,920 --> 00:06:01,880 Speaker 2: Bottom of the tread. 136 00:06:01,920 --> 00:06:04,120 Speaker 3: Sometimes that's when you know, oh my gosh, this shoe 137 00:06:04,160 --> 00:06:07,080 Speaker 3: is worn like once or twice, it's an excellent condition. 138 00:06:07,640 --> 00:06:09,000 Speaker 3: And those are the shoes a war this morning when 139 00:06:09,000 --> 00:06:11,400 Speaker 3: I went for my run. But going beyond gear. The 140 00:06:11,520 --> 00:06:15,119 Speaker 3: Times detailed how runners are actually paying a large amount 141 00:06:15,120 --> 00:06:17,880 Speaker 3: of money for these race tours in order to be 142 00:06:17,920 --> 00:06:20,839 Speaker 3: able to compete in the most elye races. So, for instance, 143 00:06:20,920 --> 00:06:24,680 Speaker 3: the almost impossible to get into London Marathon, will you 144 00:06:24,760 --> 00:06:28,880 Speaker 3: pay a quote unquote tour operator four thousand dollars and 145 00:06:28,960 --> 00:06:31,599 Speaker 3: that ensures that you will get a BIB although it 146 00:06:31,640 --> 00:06:34,599 Speaker 3: only actually calls you. Costs you two hundred dollars in 147 00:06:35,080 --> 00:06:37,760 Speaker 3: race fees, and they include other stuff too, like meals 148 00:06:37,800 --> 00:06:38,839 Speaker 3: and they kind of pamper you. 149 00:06:38,920 --> 00:06:41,360 Speaker 1: And yeah it's again it's the tour, so it's thirty. 150 00:06:41,480 --> 00:06:44,320 Speaker 1: It's the package between paying for the package and just 151 00:06:44,440 --> 00:06:46,400 Speaker 1: going through. Oh yeah, it's hard to get into so 152 00:06:46,440 --> 00:06:49,159 Speaker 1: which means you're in this lottery and almost nobody gets accepted. 153 00:06:49,320 --> 00:06:51,719 Speaker 1: But if you do, the race fees are pretty minimal, 154 00:06:51,720 --> 00:06:53,680 Speaker 1: they're reasonable, but the only way to actually get in 155 00:06:53,760 --> 00:06:56,320 Speaker 1: is to pay the really really really high tour fee. 156 00:06:56,400 --> 00:06:58,840 Speaker 2: Well, yeah, so what do you think about that? Are you? 157 00:06:58,920 --> 00:06:59,480 Speaker 2: Are you split? 158 00:06:59,560 --> 00:07:01,920 Speaker 3: Because if you had a life goal to run them, 159 00:07:02,240 --> 00:07:03,800 Speaker 3: like if you're hitting all the majors, and then they 160 00:07:03,880 --> 00:07:04,080 Speaker 3: kind of. 161 00:07:04,080 --> 00:07:06,080 Speaker 1: Highlight what of my friend is doing, friends is doing. Yeah, 162 00:07:06,120 --> 00:07:08,279 Speaker 1: he just like went down to Australia to run Yeah, 163 00:07:08,400 --> 00:07:09,880 Speaker 1: the newer worse six Now there's nine. 164 00:07:10,360 --> 00:07:12,240 Speaker 3: But do they do they update the metal like the 165 00:07:12,400 --> 00:07:15,280 Speaker 3: instead of the six six stars metal question? I don't like, 166 00:07:15,320 --> 00:07:18,560 Speaker 3: do you have to go and rerun all of the majors? 167 00:07:18,600 --> 00:07:21,000 Speaker 3: I'll have to ask him. But if that is a 168 00:07:21,040 --> 00:07:24,160 Speaker 3: life goal of years, this is how you can guarantee entry. 169 00:07:24,200 --> 00:07:26,440 Speaker 3: And one of the persons who has profiled in the 170 00:07:26,480 --> 00:07:28,440 Speaker 3: in the article talked about how, well, what if I 171 00:07:28,480 --> 00:07:30,680 Speaker 3: could get hit by a bus tomorrow, I could have 172 00:07:30,760 --> 00:07:34,920 Speaker 3: a quote unquote career running career ending sort of injury. 173 00:07:35,360 --> 00:07:37,560 Speaker 3: And if you've got the money, I think I'm all 174 00:07:37,600 --> 00:07:40,400 Speaker 3: for folks taking this route because. 175 00:07:40,200 --> 00:07:41,920 Speaker 2: Skipping the line. But you pay a ton of money 176 00:07:41,960 --> 00:07:42,320 Speaker 2: to skip. 177 00:07:42,520 --> 00:07:44,360 Speaker 3: Yeah, it does cost a lot of money and there 178 00:07:44,360 --> 00:07:46,960 Speaker 3: are other perks, but if you have the money to 179 00:07:47,040 --> 00:07:49,680 Speaker 3: do it, I'm not am I personally going to do that? No, 180 00:07:49,760 --> 00:07:52,280 Speaker 3: because I don't. I don't care, Like this totally needs 181 00:07:52,320 --> 00:07:54,000 Speaker 3: to be your splurge. This needs to be your craft 182 00:07:54,040 --> 00:07:56,280 Speaker 3: beer equivalent. Uh, and you of course need to have 183 00:07:56,320 --> 00:08:00,000 Speaker 3: the money on hand. But again, you can spend very 184 00:08:00,040 --> 00:08:02,760 Speaker 3: very little money on this activity, this hobby, the sport, 185 00:08:03,440 --> 00:08:04,120 Speaker 3: something that. 186 00:08:04,160 --> 00:08:06,400 Speaker 2: Causes you to live a healthier lifestyle, or. 187 00:08:06,280 --> 00:08:08,720 Speaker 3: You can spend a ton of money and that guarantees 188 00:08:08,800 --> 00:08:10,320 Speaker 3: your ability to visit London. 189 00:08:10,360 --> 00:08:13,160 Speaker 1: I guess I just I hate seeing like something that 190 00:08:13,240 --> 00:08:16,640 Speaker 1: is so pure overrun in some ways, with like people 191 00:08:16,920 --> 00:08:19,920 Speaker 1: grabbing for your dollars, and I don't know, it makes 192 00:08:19,960 --> 00:08:21,840 Speaker 1: me think too, there are other ways to get into 193 00:08:21,840 --> 00:08:23,880 Speaker 1: some of those elite races. I have a friend who's 194 00:08:24,320 --> 00:08:26,600 Speaker 1: gonna run the New York City Marathon, which I think 195 00:08:26,640 --> 00:08:30,000 Speaker 1: is next weekend, and he I think the way he 196 00:08:30,040 --> 00:08:31,880 Speaker 1: got in was raising money for charity. And this is 197 00:08:31,920 --> 00:08:34,120 Speaker 1: a common way to get into some of those premium 198 00:08:34,200 --> 00:08:36,480 Speaker 1: races too, and maybe it's a better way, right like 199 00:08:36,880 --> 00:08:38,800 Speaker 1: than just me and let like it. The easy thing 200 00:08:38,800 --> 00:08:40,800 Speaker 1: to do is to fork over four thousand dollars to 201 00:08:40,920 --> 00:08:44,240 Speaker 1: the race tour. Sure that maybe slightly harder way, but 202 00:08:44,360 --> 00:08:47,440 Speaker 1: less costly way is to raise money for charity. And 203 00:08:47,480 --> 00:08:50,079 Speaker 1: also the ultimately best way to proceed totally. 204 00:08:50,160 --> 00:08:53,080 Speaker 3: Okay, so quickly, while we're talking about fitness stuff, did 205 00:08:53,120 --> 00:08:55,240 Speaker 3: you see the Consumer I'm sure you saw the Consumer 206 00:08:55,440 --> 00:08:58,040 Speaker 3: Reports article about protein powder and then oh. 207 00:08:58,000 --> 00:09:00,520 Speaker 1: Yeah, because we talked about protein powders on a recent 208 00:09:00,600 --> 00:09:01,520 Speaker 1: Ascon Money. 209 00:09:01,280 --> 00:09:04,240 Speaker 3: Episode, So I don't know how much of it that 210 00:09:04,280 --> 00:09:07,600 Speaker 3: you read. But basically Consumer Reports, which is a great institution, 211 00:09:07,880 --> 00:09:10,520 Speaker 3: great great work that they're doing over there. 212 00:09:10,440 --> 00:09:13,200 Speaker 1: The few magazines were subscribing to him paying for Yeah. 213 00:09:13,280 --> 00:09:15,800 Speaker 3: That being said, I'm not totally sure if I agreed 214 00:09:15,840 --> 00:09:18,360 Speaker 3: with their findings, so that the headline is like, oh, 215 00:09:18,480 --> 00:09:21,000 Speaker 3: you know, all these protein powders that we tested have 216 00:09:21,960 --> 00:09:24,200 Speaker 3: five x the amount of lead that. 217 00:09:23,800 --> 00:09:26,840 Speaker 1: You should daily recommended intake. But I thought this daily 218 00:09:26,920 --> 00:09:29,800 Speaker 1: recommended to take to zero. But it was It was 219 00:09:29,800 --> 00:09:32,760 Speaker 1: a bit alarming as someone who consumes protein myself. But 220 00:09:32,800 --> 00:09:35,160 Speaker 1: then I read a little bit more and I saw 221 00:09:35,480 --> 00:09:39,000 Speaker 1: that the standard for which they set the limits on 222 00:09:39,040 --> 00:09:43,320 Speaker 1: the lead wasn't, let's say, the FDA's standard, but it 223 00:09:43,360 --> 00:09:46,640 Speaker 1: was California's Prop. Sixty five, which. 224 00:09:46,360 --> 00:09:49,160 Speaker 2: Which is more strict. It's much more strict the FDA's is. 225 00:09:49,520 --> 00:09:51,920 Speaker 3: It's like I think ten times it's ten times more 226 00:09:52,000 --> 00:09:54,280 Speaker 3: lenient than California's. 227 00:09:54,320 --> 00:09:57,120 Speaker 1: So would all the protein powders fit under the FDA recommendation. 228 00:09:57,160 --> 00:09:58,800 Speaker 3: I didn't check that because I was just looking for 229 00:09:58,840 --> 00:10:01,839 Speaker 3: my protein, but they do have a list, and I 230 00:10:01,880 --> 00:10:02,199 Speaker 3: think it. 231 00:10:02,160 --> 00:10:06,400 Speaker 1: Is worth if you are a protein powder enthusiast looking 232 00:10:06,440 --> 00:10:09,240 Speaker 1: to see because there is a dramatically different amount in 233 00:10:09,800 --> 00:10:11,520 Speaker 1: some of the So I was like, like Orgain with 234 00:10:11,520 --> 00:10:13,120 Speaker 1: somewhere kind of in the middle, which is the one 235 00:10:13,120 --> 00:10:15,360 Speaker 1: that sell at Costco? Where did your Aldi one fall? 236 00:10:15,480 --> 00:10:18,680 Speaker 3: It didn't fall. It wasn't rainy to saw super bummed. 237 00:10:18,920 --> 00:10:21,920 Speaker 3: But I will point out so all that to say, 238 00:10:21,920 --> 00:10:24,960 Speaker 3: I don't think folks should be overly alarmed, but it is. 239 00:10:25,360 --> 00:10:28,320 Speaker 3: I think it's good for these different manufacturers and companies 240 00:10:28,320 --> 00:10:30,360 Speaker 3: to see that, hey, there's somebody on the beat. There's 241 00:10:30,400 --> 00:10:33,800 Speaker 3: someone who is watching this. And if one of these 242 00:10:33,840 --> 00:10:36,320 Speaker 3: companies sees a dramatic decline in their sales because of this, 243 00:10:36,760 --> 00:10:38,520 Speaker 3: maybe they're gonna switch things up a little bit and 244 00:10:38,520 --> 00:10:41,680 Speaker 3: maybe source their ingredients a little bit better. But my 245 00:10:41,720 --> 00:10:45,160 Speaker 3: biggest takeaway was the fact that the proteins that were 246 00:10:45,200 --> 00:10:50,160 Speaker 3: plant based had significantly higher amounts of lead so like 247 00:10:50,640 --> 00:10:55,040 Speaker 3: pea protein basically, and that's because plants absorb minerals from 248 00:10:55,080 --> 00:10:58,560 Speaker 3: the grounds, including lead of course. And in addition to that, 249 00:10:58,600 --> 00:11:02,560 Speaker 3: the chocolate versions also have much higher levels of lead 250 00:11:02,600 --> 00:11:07,280 Speaker 3: as well, because chocolate's a plant, yeah, as opposed to 251 00:11:07,440 --> 00:11:10,400 Speaker 3: So all that being said, I still highly recommend my 252 00:11:10,640 --> 00:11:12,520 Speaker 3: vanilla way based protein from Aldi. 253 00:11:12,600 --> 00:11:14,959 Speaker 2: It's the most affordable and it tastes really good too. 254 00:11:14,840 --> 00:11:18,640 Speaker 1: And probably, although not verified by consumer reports, probably has 255 00:11:18,720 --> 00:11:20,000 Speaker 1: less lead than some of those other. 256 00:11:20,080 --> 00:11:22,400 Speaker 3: Guess And so I went searching for it, but nobody's 257 00:11:22,440 --> 00:11:25,360 Speaker 3: tested it yet. Okay, watch the test come back, and 258 00:11:25,360 --> 00:11:27,440 Speaker 3: it's like off the charts and are just like a 259 00:11:27,480 --> 00:11:31,360 Speaker 3: walking killing yourself slowing human being because of all the 260 00:11:31,440 --> 00:11:33,079 Speaker 3: lead that's leeching into my bones. 261 00:11:33,280 --> 00:11:35,600 Speaker 1: And maybe it turns into like some sort of Marvel superhero. 262 00:11:35,600 --> 00:11:38,600 Speaker 2: That'd be cool. Yeah, I got bones like Wolverine, then 263 00:11:38,640 --> 00:11:39,520 Speaker 2: it would be worth it. 264 00:11:40,320 --> 00:11:42,600 Speaker 1: All right, big question here, do you get worse at 265 00:11:42,640 --> 00:11:45,559 Speaker 1: managing money if you have more of it? There was 266 00:11:45,600 --> 00:11:47,760 Speaker 1: an interesting article about this, I believe it's in the 267 00:11:47,760 --> 00:11:51,440 Speaker 1: Wall Street Journal. All signs Matt, I think points to yes, 268 00:11:51,520 --> 00:11:52,600 Speaker 1: and understandably so. 269 00:11:53,040 --> 00:11:55,800 Speaker 2: Because your magic eight ball says. 270 00:11:56,600 --> 00:12:00,320 Speaker 1: There is something about having limited means and kind of 271 00:12:00,320 --> 00:12:03,280 Speaker 1: having to focus really in order to make money progress. Right, 272 00:12:03,360 --> 00:12:06,720 Speaker 1: Like when you don't make much, budgeting is a necessity, 273 00:12:06,760 --> 00:12:10,240 Speaker 1: it's not really a luxury, and so it's easier to 274 00:12:10,280 --> 00:12:12,960 Speaker 1: have like harder lines about eating out and then just 275 00:12:13,040 --> 00:12:15,600 Speaker 1: kind of spending in general. It's easier to hold the 276 00:12:15,640 --> 00:12:19,480 Speaker 1: line and to not make changes. But what this article 277 00:12:19,520 --> 00:12:22,000 Speaker 1: was talking about was is, like your income rises, it 278 00:12:22,040 --> 00:12:25,679 Speaker 1: becomes easier to abandon some of those sound financial habits 279 00:12:26,000 --> 00:12:28,160 Speaker 1: that maybe helped you get there in the first place. 280 00:12:28,480 --> 00:12:33,280 Speaker 1: People become more adept at like guestimating or assuming things 281 00:12:33,280 --> 00:12:36,840 Speaker 1: about their finances than they are at paying attention to 282 00:12:37,040 --> 00:12:40,400 Speaker 1: the specifics. And there was research from the University of 283 00:12:40,440 --> 00:12:43,640 Speaker 1: Chicago that almost like a decade ago that they referred 284 00:12:43,640 --> 00:12:46,439 Speaker 1: to in this article, and it found that people living 285 00:12:46,480 --> 00:12:49,880 Speaker 1: on less have the ability to see their financial decisions 286 00:12:49,920 --> 00:12:53,760 Speaker 1: more clearly. Things do, I think get hazier as you 287 00:12:53,800 --> 00:12:56,240 Speaker 1: make more progress, And part of it is just literally 288 00:12:56,240 --> 00:12:58,840 Speaker 1: the complexity ramps up as you're making more as your 289 00:12:58,880 --> 00:13:03,520 Speaker 1: financial decisions do have greater ramifications, greater tax ramifications. But 290 00:13:03,760 --> 00:13:07,720 Speaker 1: I think this is a call that no matter where 291 00:13:07,120 --> 00:13:11,000 Speaker 1: you fall on the income spectrum, tracking your spending, and 292 00:13:11,040 --> 00:13:15,400 Speaker 1: discussing your goals. Those remain crucial things. I think I 293 00:13:15,480 --> 00:13:18,079 Speaker 1: just don't want people, as they're making progress along the way, 294 00:13:18,280 --> 00:13:19,679 Speaker 1: they just kind of like, Hey, I'm not gonna listen 295 00:13:19,720 --> 00:13:23,120 Speaker 1: to personal finance podcast anymore. I'm not gonna care about 296 00:13:23,200 --> 00:13:25,240 Speaker 1: track my spending anymore. I'm not going to be thoughtful 297 00:13:25,280 --> 00:13:27,439 Speaker 1: about what subscriptions I have in my life anymore. I 298 00:13:27,480 --> 00:13:28,560 Speaker 1: think those habits still matter. 299 00:13:28,640 --> 00:13:31,719 Speaker 2: I'm beyond that. Yeah, exactly this. You are not beyond that. 300 00:13:31,880 --> 00:13:32,600 Speaker 2: I mean, it's up to you. 301 00:13:32,640 --> 00:13:34,160 Speaker 3: I guess it depends on how you want to spend 302 00:13:34,160 --> 00:13:35,920 Speaker 3: your time, how you want to spend your energy. 303 00:13:36,000 --> 00:13:37,480 Speaker 2: But that can reverse it. 304 00:13:37,920 --> 00:13:39,760 Speaker 3: Yes, And that's what we're pointing to here, is that 305 00:13:39,880 --> 00:13:41,800 Speaker 3: the kind of progress that you were able to make 306 00:13:41,920 --> 00:13:44,440 Speaker 3: that got you to this point is not guaranteed to 307 00:13:44,440 --> 00:13:47,240 Speaker 3: continue as you pay less attention to it. And it's 308 00:13:47,240 --> 00:13:49,959 Speaker 3: one of the reasons I still literally do my Excel 309 00:13:49,960 --> 00:13:52,160 Speaker 3: spreadsheet and track every single purchase that we make, every 310 00:13:52,160 --> 00:13:55,760 Speaker 3: single pinion that enters into our household. I know where 311 00:13:55,760 --> 00:13:59,160 Speaker 3: those pennies are. On that note, a recent Bloomberg article 312 00:13:59,200 --> 00:14:02,439 Speaker 3: documented the ride in cash strapped millionaires. 313 00:14:01,920 --> 00:14:04,880 Speaker 1: Which those things seem like an oxymoron, like, wait, Cashtrapp, 314 00:14:04,880 --> 00:14:06,360 Speaker 1: Millionaire's a difference, Oh don't. 315 00:14:06,720 --> 00:14:09,160 Speaker 2: I'm shooting lots of tears for you. Yeah. 316 00:14:09,160 --> 00:14:11,800 Speaker 3: So this is the moneyless millionaires that you refer to 317 00:14:12,000 --> 00:14:15,120 Speaker 3: the title, but the number of folks who have a 318 00:14:15,200 --> 00:14:19,360 Speaker 3: net worth of one million dollars plus it has grown 319 00:14:19,400 --> 00:14:22,479 Speaker 3: dramatically in recent years, and we've seen more people participating 320 00:14:22,480 --> 00:14:24,600 Speaker 3: in the stock market, We've seen a dramatic rise in 321 00:14:24,840 --> 00:14:29,440 Speaker 3: different assets, homes, but more of those millionaires have very 322 00:14:29,440 --> 00:14:31,880 Speaker 3: little access to that wealth. 323 00:14:32,040 --> 00:14:32,360 Speaker 2: It is. 324 00:14:32,720 --> 00:14:35,280 Speaker 3: Those dollars are tied up in retirement accounts, it's tied 325 00:14:35,320 --> 00:14:37,480 Speaker 3: up in home equity, and those things. 326 00:14:37,280 --> 00:14:40,680 Speaker 1: Are they don't just sell for your money stocks from 327 00:14:40,720 --> 00:14:42,960 Speaker 1: referral one k right, or like a lifestyle or a 328 00:14:42,960 --> 00:14:44,760 Speaker 1: portion of your home. But what I was gonna say is, 329 00:14:44,840 --> 00:14:47,800 Speaker 1: in some ways I think this is great, like build 330 00:14:47,840 --> 00:14:50,840 Speaker 1: that wealth, do not touch it while you are while 331 00:14:50,840 --> 00:14:54,400 Speaker 1: you're working. But and it's also interesting to note too 332 00:14:54,440 --> 00:14:57,880 Speaker 1: that beyond the one to two million dollar mark, and 333 00:14:57,960 --> 00:15:00,400 Speaker 1: as you sort of advance into the upper though, what 334 00:15:00,440 --> 00:15:02,720 Speaker 1: you call these folks the upper elite, the upper crust, 335 00:15:02,760 --> 00:15:06,960 Speaker 1: the folks with millions upon millions you see the level 336 00:15:07,040 --> 00:15:10,640 Speaker 1: of wealth that is tied up in these liquid assets decrease, 337 00:15:10,680 --> 00:15:13,800 Speaker 1: which makes sense, right, There's only so specifically, like your home, 338 00:15:13,840 --> 00:15:16,160 Speaker 1: there's only so much of a so much home you 339 00:15:16,160 --> 00:15:18,040 Speaker 1: can buy before you're just like, you know what, let's 340 00:15:18,040 --> 00:15:20,600 Speaker 1: just invest it. Thad, I hear well, there are certainly 341 00:15:20,640 --> 00:15:21,360 Speaker 1: the Hamptons are calling. 342 00:15:21,400 --> 00:15:24,760 Speaker 2: There are certainly very big and nice homes. 343 00:15:25,160 --> 00:15:27,200 Speaker 3: It's just that not everybody wants to live in the 344 00:15:27,240 --> 00:15:29,760 Speaker 3: gigantic mansion where they're dumping a ton of their wealth 345 00:15:29,800 --> 00:15:33,280 Speaker 3: into that. But for most folks out there who are 346 00:15:33,280 --> 00:15:34,480 Speaker 3: in a stage of life where they are trying to 347 00:15:34,520 --> 00:15:37,120 Speaker 3: build their wealth, it's important to know your timeline. And 348 00:15:37,360 --> 00:15:38,960 Speaker 3: I want to make sure that there are folks out 349 00:15:38,960 --> 00:15:41,760 Speaker 3: there who have access to money for some of the 350 00:15:41,760 --> 00:15:44,200 Speaker 3: different short term and for some of the different medium term. 351 00:15:44,120 --> 00:15:45,640 Speaker 2: Goals that they might have. 352 00:15:45,680 --> 00:15:49,480 Speaker 3: We often focus on building your wealth, and the vast 353 00:15:49,520 --> 00:15:51,960 Speaker 3: majority I think, especially of our generation of wealth that 354 00:15:52,040 --> 00:15:54,400 Speaker 3: is being built is within the four one k. Yeah, 355 00:15:54,400 --> 00:15:56,200 Speaker 3: there's a lock on it. And the only key to 356 00:15:56,240 --> 00:15:58,480 Speaker 3: that lock, well aside from a ten percent penalty, is 357 00:15:58,600 --> 00:16:00,800 Speaker 3: hitting a certain age. And so so it's like a time, 358 00:16:01,200 --> 00:16:03,680 Speaker 3: it's like a time schedule. Yeah, right, And you know what, 359 00:16:03,720 --> 00:16:05,680 Speaker 3: there are oftentimes going to be goals that we have 360 00:16:05,720 --> 00:16:08,840 Speaker 3: in life that where we are going to need more liquid, 361 00:16:09,080 --> 00:16:10,440 Speaker 3: readily available cash. 362 00:16:10,560 --> 00:16:13,200 Speaker 1: And actually, one of the other things maybe that might 363 00:16:13,240 --> 00:16:15,200 Speaker 1: be worth mentioning here is this is why I'd like 364 00:16:15,320 --> 00:16:17,800 Speaker 1: roth IRA's why we like roth Iray so much, Matt, 365 00:16:18,080 --> 00:16:21,240 Speaker 1: is because the roth Ira contributions, if you are a 366 00:16:21,320 --> 00:16:23,800 Speaker 1: regular maximizer of that roth Iray over a long period 367 00:16:23,840 --> 00:16:27,600 Speaker 1: of time, those contributions can be tapped penalty and tax free. 368 00:16:28,120 --> 00:16:31,560 Speaker 1: And we don't typically recommend it. It's not like, oh, 369 00:16:31,640 --> 00:16:33,240 Speaker 1: you're thirty eight and you've been maxing out your roth 370 00:16:33,280 --> 00:16:36,280 Speaker 1: for ten years, pull all those contributions out. Great, But 371 00:16:36,600 --> 00:16:40,840 Speaker 1: at least it is there is the possibility to access 372 00:16:40,840 --> 00:16:43,880 Speaker 1: those fun since I do see that as a plus 373 00:16:44,440 --> 00:16:46,960 Speaker 1: if you're handling your money well and you do need 374 00:16:47,000 --> 00:16:50,520 Speaker 1: access for let's say, a down payment on a house 375 00:16:50,680 --> 00:16:53,520 Speaker 1: or something like that, or a more short term money 376 00:16:53,560 --> 00:16:55,920 Speaker 1: goal that you have. I was talking to somebody the 377 00:16:55,960 --> 00:16:59,040 Speaker 1: other day and he didn't even realize that roth contributions 378 00:16:59,080 --> 00:17:02,840 Speaker 1: were access uh, And so I was like, oh, man. 379 00:17:02,760 --> 00:17:04,040 Speaker 2: Was that a good thing? Let me tell you about 380 00:17:04,119 --> 00:17:05,919 Speaker 2: a bad thing for him. 381 00:17:05,800 --> 00:17:07,480 Speaker 1: I always couch it, right, and I'm like, yeah, yeah, 382 00:17:07,520 --> 00:17:09,280 Speaker 1: you might not want to go grab them all right now, 383 00:17:09,359 --> 00:17:12,720 Speaker 1: but at least they all just yeah. So if you 384 00:17:12,880 --> 00:17:16,280 Speaker 1: feel like you crash cash strapped millionaire, your ROTH contributions 385 00:17:16,359 --> 00:17:19,080 Speaker 1: might at least make you feel less. So let's talk 386 00:17:19,080 --> 00:17:21,280 Speaker 1: about AI for a second, Matt, not not for too long, 387 00:17:21,520 --> 00:17:24,879 Speaker 1: but I think some people are probably tired of hearing 388 00:17:24,880 --> 00:17:27,199 Speaker 1: about AI. We're talking about if you've heard a lot 389 00:17:27,240 --> 00:17:29,880 Speaker 1: of talk about the AI bubble in the stock market recently, 390 00:17:29,960 --> 00:17:32,399 Speaker 1: is there one? Isn't there one? That's a really good question. 391 00:17:32,680 --> 00:17:34,879 Speaker 1: Maybe that's not weigh on on that right now, but 392 00:17:35,480 --> 00:17:39,240 Speaker 1: maybe soon. But Walmart and open ai actually announced a 393 00:17:39,280 --> 00:17:42,640 Speaker 1: partnership last week. That's what we'll talk about, and that's 394 00:17:42,680 --> 00:17:45,159 Speaker 1: the AI is going e commerce soon. You're going to 395 00:17:45,200 --> 00:17:49,280 Speaker 1: be able to stop shop for Walmart supplies on chat ept. 396 00:17:49,720 --> 00:17:53,359 Speaker 1: Open Ai also announced a new browser that has like 397 00:17:53,440 --> 00:17:55,919 Speaker 1: their AI fully built into it. I think it's only 398 00:17:55,960 --> 00:17:59,800 Speaker 1: available for Mac users right now. Atlass Yeah, so car 399 00:18:00,080 --> 00:18:01,840 Speaker 1: see how that goes, because I'm sure that's going to 400 00:18:01,840 --> 00:18:04,000 Speaker 1: incorporate more e commerce as well, which is going to 401 00:18:04,000 --> 00:18:07,320 Speaker 1: allow chat GBT to or open ai as a company 402 00:18:07,359 --> 00:18:10,679 Speaker 1: to monetize their product better. But man, I'm a little 403 00:18:10,960 --> 00:18:13,680 Speaker 1: wary of this. I think this is inevitable in a 404 00:18:13,720 --> 00:18:17,199 Speaker 1: lot of ways. But we're already like tempted to consume 405 00:18:17,320 --> 00:18:21,159 Speaker 1: everywhere all the time. And of course, yeah, AI was 406 00:18:21,200 --> 00:18:24,440 Speaker 1: going to find a way to monetize their product through 407 00:18:24,600 --> 00:18:28,760 Speaker 1: direct sales and through partnerships with companies that sell products. 408 00:18:29,200 --> 00:18:31,199 Speaker 1: But it's just also another place that we need to 409 00:18:31,200 --> 00:18:33,840 Speaker 1: be wary of if we're trying to rein in our spending, 410 00:18:33,920 --> 00:18:36,200 Speaker 1: because we might start I was talking to somebody the 411 00:18:36,200 --> 00:18:39,760 Speaker 1: other day who was using chat GPT for a homern 412 00:18:39,840 --> 00:18:41,919 Speaker 1: model project, and she's like, it's just giving me the 413 00:18:41,920 --> 00:18:44,320 Speaker 1: best suggestions about all these things to buy. In some 414 00:18:44,359 --> 00:18:47,399 Speaker 1: ways that's cool, but in some ways it also just 415 00:18:47,440 --> 00:18:50,040 Speaker 1: speeds up the process that makes it easier to spend 416 00:18:50,040 --> 00:18:53,679 Speaker 1: in ways that are maybe a little more frivolous. So 417 00:18:53,760 --> 00:18:56,800 Speaker 1: I guess I'm just a little bit nervous about this development. 418 00:18:57,200 --> 00:18:57,880 Speaker 2: I am as well. 419 00:18:58,400 --> 00:19:01,440 Speaker 3: It'll also be interesting to see how AI impacts retailers, 420 00:19:01,800 --> 00:19:04,840 Speaker 3: because currently AI shopping is pretty small, but it could 421 00:19:04,840 --> 00:19:08,800 Speaker 3: turn into this tidle way right where it's reducing online 422 00:19:08,880 --> 00:19:12,800 Speaker 3: site visits also reducing customer loyalty as well. But on 423 00:19:12,840 --> 00:19:16,600 Speaker 3: the note of loyalty, subscriptions actually help retailers out in 424 00:19:16,640 --> 00:19:19,560 Speaker 3: that regard. And I want to specifically talk about car 425 00:19:19,680 --> 00:19:24,919 Speaker 3: washes because the car wash subscriptions are proliferating. Car wash 426 00:19:24,960 --> 00:19:28,399 Speaker 3: locations are pricing their single washes like if you just 427 00:19:28,480 --> 00:19:31,320 Speaker 3: kind of roll up randomly at like one dollar less 428 00:19:31,400 --> 00:19:34,240 Speaker 3: than what the monthly subscription is, where it's basically trying 429 00:19:34,240 --> 00:19:37,879 Speaker 3: to tip you over into joining having that payment on 430 00:19:37,920 --> 00:19:40,040 Speaker 3: a recurring basis to make it a no brainer. 431 00:19:40,119 --> 00:19:42,119 Speaker 1: It's like, why wouldn't I it's only a dollar more, 432 00:19:42,119 --> 00:19:43,120 Speaker 1: I'm gonna get the subscription. 433 00:19:43,200 --> 00:19:44,639 Speaker 3: That's where the value is at. I can hit this 434 00:19:44,720 --> 00:19:47,199 Speaker 3: up as many times as I want this month. And 435 00:19:47,280 --> 00:19:49,760 Speaker 3: the biggest player in that space mister car Wash. They 436 00:19:49,800 --> 00:19:53,119 Speaker 3: have over two million members and over three quarters of 437 00:19:53,160 --> 00:19:57,719 Speaker 3: their revenue comes from recurring subscriptions, which is amazing. And 438 00:19:57,760 --> 00:20:00,639 Speaker 3: I will say we fail pre to that, not to 439 00:20:00,720 --> 00:20:04,560 Speaker 3: mister car Wash specifically, but the one nearest us. It 440 00:20:04,680 --> 00:20:07,640 Speaker 3: was really similar to that. It wasn't that much more expensive. 441 00:20:08,000 --> 00:20:10,520 Speaker 3: And here's here's the weird thing is it was only 442 00:20:10,560 --> 00:20:13,800 Speaker 3: supposed to be like a promotional rate, but they never 443 00:20:13,880 --> 00:20:14,520 Speaker 3: raised the price. 444 00:20:14,720 --> 00:20:17,080 Speaker 2: Oh and so I'm continued, So we're still members. 445 00:20:17,359 --> 00:20:20,119 Speaker 3: And because we hit forty pay a month twenty bucks, 446 00:20:20,680 --> 00:20:22,800 Speaker 3: maybe he's like twenty one or something like that. And 447 00:20:22,840 --> 00:20:25,360 Speaker 3: it was, but that was the quote unquote promotional rate 448 00:20:25,400 --> 00:20:27,240 Speaker 3: there at the beginning, and it was only a few 449 00:20:27,280 --> 00:20:30,199 Speaker 3: dollars more than just what a single wash costs. But 450 00:20:30,200 --> 00:20:32,000 Speaker 3: we go through it like twice a week, and you're 451 00:20:32,000 --> 00:20:32,800 Speaker 3: getting your money's worth. 452 00:20:32,840 --> 00:20:33,440 Speaker 2: I think we are. 453 00:20:33,480 --> 00:20:35,320 Speaker 3: And we've got this old, crusty van and we're trying 454 00:20:35,359 --> 00:20:37,359 Speaker 3: to make it look nice and we feel good about 455 00:20:37,400 --> 00:20:38,959 Speaker 3: it and truly trying to take care of it. You know, 456 00:20:39,440 --> 00:20:41,480 Speaker 3: when we get out of there and those tires look shiny, 457 00:20:41,520 --> 00:20:42,880 Speaker 3: I'm like, man, those tires are gonna they. 458 00:20:42,840 --> 00:20:44,199 Speaker 2: Ain't cut a dry rot. I'll tell you what. 459 00:20:45,400 --> 00:20:47,239 Speaker 1: So I dropped my van off at the Mechanic this 460 00:20:47,280 --> 00:20:51,680 Speaker 1: morning and it was it was so nasty. I felt 461 00:20:51,720 --> 00:20:53,960 Speaker 1: a little ashamed because it had not been cleaned in 462 00:20:54,119 --> 00:20:57,240 Speaker 1: so long. There's like cracker dust all over the front. 463 00:20:57,240 --> 00:20:59,479 Speaker 1: I mean, there's just like who knows what we use 464 00:20:59,520 --> 00:21:02,679 Speaker 1: that napkin four that's in the corner. I know, I know, 465 00:21:03,040 --> 00:21:04,800 Speaker 1: so I need to I do not currently have a 466 00:21:04,840 --> 00:21:05,640 Speaker 1: car Washed subscription. 467 00:21:05,760 --> 00:21:08,360 Speaker 2: Yeah, well, and I'm kind of reticent to do it. 468 00:21:08,440 --> 00:21:10,199 Speaker 3: I just I think more people need to be right 469 00:21:10,240 --> 00:21:13,199 Speaker 3: because when you are on that recurring subscription, it's in 470 00:21:13,680 --> 00:21:17,560 Speaker 3: the best interest of that business, but not necessarily in yours. 471 00:21:17,600 --> 00:21:19,800 Speaker 3: And so even if you don't use the service, you're 472 00:21:19,800 --> 00:21:22,080 Speaker 3: still paying for it. So just pay attention to. 473 00:21:22,280 --> 00:21:24,000 Speaker 2: Your finances and where your money is going. 474 00:21:24,119 --> 00:21:27,639 Speaker 1: Yeah, yep, so everybody wants you to have a subscription, 475 00:21:27,720 --> 00:21:30,280 Speaker 1: but is that in your best interest? It's worth thinking twice. 476 00:21:30,320 --> 00:21:32,680 Speaker 1: And also like, how often would you get your car 477 00:21:32,760 --> 00:21:35,880 Speaker 1: washed if you didn't have a subscription? Probably far less? 478 00:21:36,160 --> 00:21:37,959 Speaker 1: Would that be the worst thing in the world? Are 479 00:21:38,040 --> 00:21:40,320 Speaker 1: We got more to get to on this episode of Clear, 480 00:21:40,359 --> 00:21:42,600 Speaker 1: We're talking about credit card churning and a way to 481 00:21:42,640 --> 00:21:45,440 Speaker 1: get your prescriptions easier and cheaper. We'll get to both 482 00:21:45,480 --> 00:21:46,399 Speaker 1: of those right after this. 483 00:21:54,200 --> 00:21:55,919 Speaker 2: All right, man, we are back from the break. 484 00:21:56,200 --> 00:21:59,159 Speaker 3: It is now time for the lu Chris headline of 485 00:21:59,200 --> 00:22:02,280 Speaker 3: the week, which is from The Times. The headline reads, 486 00:22:02,440 --> 00:22:04,479 Speaker 3: and by the way, this is an opinion piece. This 487 00:22:04,560 --> 00:22:07,479 Speaker 3: isn't like news you can use. 488 00:22:07,520 --> 00:22:10,000 Speaker 2: We're still mad about it. I'm still mad about it. 489 00:22:10,000 --> 00:22:12,919 Speaker 3: It's not an editorial though, right, And so the author 490 00:22:13,000 --> 00:22:15,840 Speaker 3: of this piece is he showed his cards. 491 00:22:15,600 --> 00:22:16,040 Speaker 2: A little bit. 492 00:22:16,040 --> 00:22:18,600 Speaker 3: He's sharing his opinion here, and that's totally fine. We'll 493 00:22:18,600 --> 00:22:21,080 Speaker 3: also share our opinion. Yeah, we haven't gotten to the headline. 494 00:22:21,080 --> 00:22:23,600 Speaker 2: Okay, if this author has a dumb opinion, the headlines 495 00:22:23,720 --> 00:22:24,480 Speaker 2: taking the task. 496 00:22:24,240 --> 00:22:28,159 Speaker 3: For it reads wacky labels and silly names are killing 497 00:22:28,200 --> 00:22:31,399 Speaker 3: craft beer. And so a part of the reason too 498 00:22:31,440 --> 00:22:33,680 Speaker 3: we're doing this is obviously we read it on our 499 00:22:33,840 --> 00:22:35,960 Speaker 3: on our own. A lot of listeners sent this one 500 00:22:36,080 --> 00:22:37,160 Speaker 3: our way. 501 00:22:37,200 --> 00:22:37,960 Speaker 2: What do you guys think? 502 00:22:38,160 --> 00:22:41,240 Speaker 3: Yeah, you guys will tell you want to fight. First 503 00:22:41,240 --> 00:22:44,480 Speaker 3: of all, man, the premise isn't true. I think the labels, 504 00:22:44,840 --> 00:22:49,560 Speaker 3: the fun names Unicorn versus Ninja, some of the wager 505 00:22:49,680 --> 00:22:52,960 Speaker 3: names out there, it is not killing craft beer. Instead, 506 00:22:53,000 --> 00:22:56,160 Speaker 3: I think it's fun helps you to remember the type 507 00:22:56,200 --> 00:22:58,320 Speaker 3: of Like there are so many different generic beers out there, right, 508 00:22:58,359 --> 00:23:01,080 Speaker 3: like generic Hazy I PA. That's a terrible name for 509 00:23:01,119 --> 00:23:03,320 Speaker 3: a beer. When you've got these more unique names, it 510 00:23:03,320 --> 00:23:06,480 Speaker 3: helps you to remember the beer. Obviously, you can't have 511 00:23:06,520 --> 00:23:09,280 Speaker 3: a wacky, fun name and have it taste awful, but 512 00:23:09,320 --> 00:23:11,560 Speaker 3: it helps you to It helps to cement its place 513 00:23:11,680 --> 00:23:14,320 Speaker 3: in your mind when you've got a sea of options 514 00:23:14,359 --> 00:23:15,040 Speaker 3: available to you. 515 00:23:15,080 --> 00:23:17,560 Speaker 1: Yeah, like Zombie Dust, Like that's a name that you 516 00:23:17,640 --> 00:23:19,680 Speaker 1: remember and you're like, Floyd, drink that again. 517 00:23:19,760 --> 00:23:21,520 Speaker 3: And I've only, I think ever had that beer one 518 00:23:21,600 --> 00:23:23,480 Speaker 3: time in my entire life. But I know that beer 519 00:23:23,560 --> 00:23:24,960 Speaker 3: because it's called zombie Dust. 520 00:23:25,240 --> 00:23:25,800 Speaker 2: Wait, what's it? 521 00:23:26,040 --> 00:23:30,600 Speaker 1: Four floyds, three floids? How many floyds did it take 522 00:23:30,600 --> 00:23:31,280 Speaker 1: to beer? 523 00:23:31,359 --> 00:23:33,320 Speaker 3: It worked part of the time, half the time, but 524 00:23:33,680 --> 00:23:35,760 Speaker 3: the cannar, it's just a fun part of the process 525 00:23:35,800 --> 00:23:36,200 Speaker 3: as well. 526 00:23:37,520 --> 00:23:38,359 Speaker 2: I just don't think craft. 527 00:23:38,240 --> 00:23:40,320 Speaker 3: Beer needs to be boring. And I think this author, 528 00:23:41,000 --> 00:23:43,400 Speaker 3: he might be revealing the fact that maybe he likes 529 00:23:43,400 --> 00:23:45,040 Speaker 3: more of the generic stuff. You know, maybe he likes 530 00:23:45,560 --> 00:23:48,320 Speaker 3: maybe he thinks he likes a craft beer, but he 531 00:23:48,800 --> 00:23:51,479 Speaker 3: maybe he's actually drinking Blue Moon, or maybe it's more 532 00:23:51,480 --> 00:23:53,560 Speaker 3: of an esthetic thing, right, Like there are some great 533 00:23:53,600 --> 00:23:57,640 Speaker 3: craft beers out there, and they're rocking some really delicious beer. 534 00:23:57,680 --> 00:24:01,600 Speaker 3: Like I'm thinking of Main Beer Company. Yeah, super kind 535 00:24:01,600 --> 00:24:06,760 Speaker 3: of generic. It's Whitch and Dinner, white labels, pretty plain vanilla, 536 00:24:06,800 --> 00:24:08,760 Speaker 3: but guess what, they make really good beers. And for 537 00:24:08,800 --> 00:24:12,359 Speaker 3: folks who like a craft beer but they don't like sparkles, 538 00:24:12,440 --> 00:24:14,879 Speaker 3: to be on the cat like literally. 539 00:24:14,520 --> 00:24:15,320 Speaker 2: Some some beer. 540 00:24:15,359 --> 00:24:18,240 Speaker 3: You know, some of these breweries, it's like sparkles coming 541 00:24:18,280 --> 00:24:20,360 Speaker 3: off coming off the label. You're not going to get 542 00:24:20,359 --> 00:24:23,760 Speaker 3: that with lunch by Main May Beer Company. 543 00:24:23,800 --> 00:24:27,359 Speaker 1: I think the thing that the author doesn't really get 544 00:24:27,400 --> 00:24:30,119 Speaker 1: about why craft beer is struggling now is the supply 545 00:24:30,160 --> 00:24:33,240 Speaker 1: and demand equation that's more going on here. 546 00:24:33,240 --> 00:24:34,000 Speaker 2: Like we have this. 547 00:24:34,240 --> 00:24:38,879 Speaker 1: Massive run up in craft breweries from essentially you know, 548 00:24:39,040 --> 00:24:44,320 Speaker 1: a handful to a handful in every city. Uh, and 549 00:24:44,359 --> 00:24:47,280 Speaker 1: they've just proliferated to such an extent that the supply 550 00:24:47,440 --> 00:24:51,600 Speaker 1: has just become overwhelming, and then the demand is also 551 00:24:51,680 --> 00:24:54,480 Speaker 1: going down. People are people are drinking a lot less 552 00:24:54,840 --> 00:24:59,119 Speaker 1: in general. So I think this isn't This is like 553 00:24:59,160 --> 00:25:01,840 Speaker 1: an ever presence in markets, Like lots of money gets 554 00:25:01,840 --> 00:25:04,879 Speaker 1: poured into the trendy space. The early movers in that 555 00:25:04,960 --> 00:25:08,480 Speaker 1: space do well, especially those who sell and get out early. 556 00:25:08,480 --> 00:25:11,080 Speaker 1: Think about Matt some of those smaller craft brewers or 557 00:25:11,119 --> 00:25:14,000 Speaker 1: medium sized craft brewers who were selling to the big guys, 558 00:25:14,200 --> 00:25:17,640 Speaker 1: and how much money they made in the heyday. They 559 00:25:17,640 --> 00:25:20,960 Speaker 1: were crushing. They walked away happy. But I think in 560 00:25:21,200 --> 00:25:23,320 Speaker 1: just fifteen years the number of craft breweries gone up 561 00:25:23,560 --> 00:25:26,840 Speaker 1: six x something like that, and consumer tastes of change. 562 00:25:27,359 --> 00:25:29,600 Speaker 1: So it's not just that we're drinking less craft beer. 563 00:25:29,640 --> 00:25:33,800 Speaker 1: We're drinking less in general. Yes, alcohol, Yeah, there's more 564 00:25:33,920 --> 00:25:36,119 Speaker 1: spiked seltzers and stuff like that. But it's also just 565 00:25:36,160 --> 00:25:39,440 Speaker 1: that people are like, I'll take the NA option or 566 00:25:39,880 --> 00:25:43,080 Speaker 1: I'll stick to soda or water or whatever. 567 00:25:43,600 --> 00:25:46,600 Speaker 2: And so people are watching their wallets, watching their pocabi. 568 00:25:46,640 --> 00:25:48,560 Speaker 1: It's not like people are like the names are too zany, 569 00:25:48,600 --> 00:25:51,639 Speaker 1: I'm out. Is there a personal finance lesson in this? 570 00:25:51,760 --> 00:25:55,080 Speaker 1: I mean, I think investing in trends can potentially be 571 00:25:55,119 --> 00:25:56,960 Speaker 1: your friend, especially in those early days it was, but 572 00:25:56,960 --> 00:25:58,800 Speaker 1: it can also come back to bite you. And we're 573 00:25:58,800 --> 00:26:01,960 Speaker 1: seeing craft breweries closing across more of this country now 574 00:26:02,240 --> 00:26:06,840 Speaker 1: than open. And also we're lucky we have more delicious 575 00:26:06,880 --> 00:26:09,280 Speaker 1: craft brewer brewing choices than ever. 576 00:26:09,840 --> 00:26:12,120 Speaker 3: And yeah, all in all, I think it's a net good, 577 00:26:12,200 --> 00:26:16,439 Speaker 3: it's a net positive. And yeah, honestly it makes me 578 00:26:16,480 --> 00:26:19,040 Speaker 3: think of like I think of other industries or things 579 00:26:19,080 --> 00:26:21,200 Speaker 3: that kind of coincided with the craft beer movement. It 580 00:26:21,240 --> 00:26:23,160 Speaker 3: makes me think of like CrossFit and not to take 581 00:26:23,160 --> 00:26:25,960 Speaker 3: this back so pointedly to like fitness or whatever, but 582 00:26:26,000 --> 00:26:29,040 Speaker 3: I want to say that that trend peaked. 583 00:26:28,800 --> 00:26:30,440 Speaker 2: Like ten years ago or so. 584 00:26:30,720 --> 00:26:32,159 Speaker 3: And if you are someone who was just like I 585 00:26:32,240 --> 00:26:33,640 Speaker 3: want to do that, I want to open a gym, 586 00:26:34,160 --> 00:26:36,840 Speaker 3: just know that man getting a brick and mortar, signing 587 00:26:36,920 --> 00:26:41,560 Speaker 3: a lease, buying the equipment, getting trainers, training staff to 588 00:26:41,880 --> 00:26:45,040 Speaker 3: be able to run your classes. Like, that's a really 589 00:26:45,119 --> 00:26:48,880 Speaker 3: expensive endeavor as opposed to trying something on your own 590 00:26:48,920 --> 00:26:52,560 Speaker 3: that might be more Yeah, it's got lower stakes, but yeah, 591 00:26:52,560 --> 00:26:55,480 Speaker 3: there's always trends. It makes like even like the boutique 592 00:26:55,520 --> 00:26:58,520 Speaker 3: spin classes or whatever, I feel like we've seen a 593 00:26:58,560 --> 00:27:01,240 Speaker 3: pretty pretty sharp client in that as well. Not that 594 00:27:01,280 --> 00:27:03,000 Speaker 3: folks aren't doing it on their own, but they're finding 595 00:27:03,000 --> 00:27:05,200 Speaker 3: more affordable alternatives. 596 00:27:04,680 --> 00:27:06,840 Speaker 1: Well, and so many brands got in on the action, 597 00:27:07,040 --> 00:27:09,639 Speaker 1: and then there was a spin class, soul cycle, Orange, 598 00:27:09,680 --> 00:27:12,600 Speaker 1: theey on every corner, and at some point there just 599 00:27:12,720 --> 00:27:17,840 Speaker 1: wasn't enough demand to be able to satisfy investors in 600 00:27:17,920 --> 00:27:21,240 Speaker 1: gym owners, and so some of those places are going bust. Yeah, yeah, 601 00:27:21,440 --> 00:27:22,280 Speaker 1: of business totally. 602 00:27:22,280 --> 00:27:24,639 Speaker 3: And in the end, I think my biggest takeaway too 603 00:27:24,680 --> 00:27:26,280 Speaker 3: is just that the numbers are changing when it comes 604 00:27:26,280 --> 00:27:28,439 Speaker 3: to if you were interested in starting a business, like 605 00:27:29,119 --> 00:27:31,960 Speaker 3: a local brewery, because before it's like, oh, if you 606 00:27:31,960 --> 00:27:34,280 Speaker 3: got big enough, maybe you could start distributing, and oh yeah, 607 00:27:34,280 --> 00:27:36,320 Speaker 3: we're gonna start We're gonna start shipping our beers across 608 00:27:36,320 --> 00:27:39,119 Speaker 3: the country, and all of a sudden, it's this national 609 00:27:39,440 --> 00:27:42,760 Speaker 3: phenomena as opposed to what's taking place now, which is 610 00:27:42,760 --> 00:27:45,199 Speaker 3: that brow pubs that are succeeding are the ones that 611 00:27:45,240 --> 00:27:47,880 Speaker 3: are able to create a great space where folks. 612 00:27:47,720 --> 00:27:48,520 Speaker 2: Can come to it. 613 00:27:48,600 --> 00:27:51,000 Speaker 3: Literally, it's contributed to local. Yes, it's contributing to the 614 00:27:51,320 --> 00:27:53,680 Speaker 3: to the local culture and the sort of the flavor 615 00:27:54,280 --> 00:27:56,680 Speaker 3: of the town. And that's really important, and that's something 616 00:27:56,840 --> 00:27:58,760 Speaker 3: I don't think that that will go out of style. 617 00:27:58,800 --> 00:28:02,280 Speaker 1: I think those are replacing old school bars that'll serve 618 00:28:02,480 --> 00:28:04,840 Speaker 1: a bunch of different beers from a bunch of different breweries, 619 00:28:05,160 --> 00:28:08,240 Speaker 1: those hyper local craft breweries. You're like, this is my 620 00:28:08,280 --> 00:28:11,119 Speaker 1: local bar now, and I just drink beers by you 621 00:28:11,119 --> 00:28:12,280 Speaker 1: guys pretty much exactly. 622 00:28:12,400 --> 00:28:14,560 Speaker 2: Yeah, which I'm down with. Matt. 623 00:28:15,000 --> 00:28:17,199 Speaker 1: Let's talk about credit card churning. The New York Times 624 00:28:17,640 --> 00:28:20,600 Speaker 1: they profile to do it this practice this week, and 625 00:28:21,320 --> 00:28:24,560 Speaker 1: churning is essentially when people sign up for lots of 626 00:28:24,640 --> 00:28:28,359 Speaker 1: credit cards in a fairly short period of time, and 627 00:28:28,760 --> 00:28:31,920 Speaker 1: it is possible to sign up for even like dozens 628 00:28:32,000 --> 00:28:34,600 Speaker 1: of credit cards and making money from those sign up 629 00:28:34,640 --> 00:28:39,200 Speaker 1: bonuses along the way, typically over the course of years. 630 00:28:39,640 --> 00:28:43,760 Speaker 1: And the article profiled how lots of people have reaped 631 00:28:44,280 --> 00:28:46,720 Speaker 1: essentially tens of thousands of dollars in cash back and 632 00:28:46,760 --> 00:28:51,000 Speaker 1: free travel by going doing the going the credit card 633 00:28:51,040 --> 00:28:54,040 Speaker 1: churning route. It's a lot of money, but I guess 634 00:28:53,840 --> 00:28:56,400 Speaker 1: it's it's not surprising as sign up bonuses have gotten 635 00:28:57,200 --> 00:28:59,840 Speaker 1: richer over the years, and so this is I think 636 00:29:00,800 --> 00:29:03,440 Speaker 1: an extreme example of the flip side of the credit 637 00:29:03,520 --> 00:29:07,400 Speaker 1: card universe, where traditionally, you know, you think about the 638 00:29:07,400 --> 00:29:09,080 Speaker 1: fifty to sixty percent of people who don't pay off 639 00:29:09,120 --> 00:29:11,400 Speaker 1: their credit card balances, they are the people you think 640 00:29:11,400 --> 00:29:15,120 Speaker 1: of as getting taken advantage of by the credit card companies. Well, 641 00:29:15,320 --> 00:29:18,920 Speaker 1: this is kind of like a Robin Hood esque scenario 642 00:29:19,000 --> 00:29:23,080 Speaker 1: where these these credit card churners boldly go forth to 643 00:29:23,160 --> 00:29:25,800 Speaker 1: say no longer will we allow you to take advantage 644 00:29:25,800 --> 00:29:27,600 Speaker 1: of people, or actually, at least we're going to try 645 00:29:27,640 --> 00:29:29,640 Speaker 1: to take advantage of you on the flip side and 646 00:29:30,080 --> 00:29:32,720 Speaker 1: take those sign up bonuses without giving you any sort 647 00:29:32,760 --> 00:29:36,800 Speaker 1: of carrying a balance or paying you any interest for 648 00:29:36,880 --> 00:29:39,080 Speaker 1: the privilege of making this money off your backs. The 649 00:29:39,120 --> 00:29:42,200 Speaker 1: credit card companies, Matt, they loathe churning, like they hate 650 00:29:42,280 --> 00:29:44,360 Speaker 1: the term in and of itself. I think it makes 651 00:29:44,400 --> 00:29:47,320 Speaker 1: them shudder to their core. They really don't want those 652 00:29:47,400 --> 00:29:50,640 Speaker 1: kinds of customers. But there's also not a whole lot 653 00:29:50,680 --> 00:29:53,760 Speaker 1: that they can do about it. But I guess, like 654 00:29:53,960 --> 00:29:55,600 Speaker 1: for us, all we should talk about is whether or 655 00:29:55,640 --> 00:30:00,000 Speaker 1: not credit card churning makes sense for individuals and for people. 656 00:30:00,040 --> 00:30:02,239 Speaker 3: But listening to this show, yeah, well, there are some 657 00:30:02,280 --> 00:30:03,760 Speaker 3: things they can do about it, like they can limit 658 00:30:03,800 --> 00:30:05,120 Speaker 3: your ability to sign up for it. 659 00:30:05,200 --> 00:30:05,560 Speaker 2: That's true. 660 00:30:06,280 --> 00:30:09,480 Speaker 3: Well, I'm specifically thinking of Chase because they I think 661 00:30:09,480 --> 00:30:09,920 Speaker 3: it was like. 662 00:30:09,840 --> 00:30:11,840 Speaker 2: A five slash twenty four rule. 663 00:30:12,760 --> 00:30:16,080 Speaker 3: Basically within two years, they're limiting your ability to take 664 00:30:16,080 --> 00:30:17,680 Speaker 3: advantage of an offered well. 665 00:30:17,600 --> 00:30:20,960 Speaker 1: And I think what Chase's rule specifically is, and I 666 00:30:20,960 --> 00:30:23,000 Speaker 1: don't know that any other credit card issuer has done this, 667 00:30:23,280 --> 00:30:26,120 Speaker 1: is if you open up five cards within those two years, 668 00:30:26,440 --> 00:30:28,520 Speaker 1: you can't even We're just gonna reject you out right 669 00:30:28,520 --> 00:30:29,880 Speaker 1: when you apply for a Chase card, So it's not 670 00:30:29,920 --> 00:30:31,560 Speaker 1: even just applying for Chase cards it's like, how many 671 00:30:31,600 --> 00:30:34,120 Speaker 1: cards have you applied for overall? If you've applied for 672 00:30:34,160 --> 00:30:36,200 Speaker 1: too many, we think you're a churner. We don't want 673 00:30:36,200 --> 00:30:37,800 Speaker 1: your business. Yeah, and I was looking at a Southwest 674 00:30:37,800 --> 00:30:40,520 Speaker 1: card recently too, and it was specifically calling out that, oh, 675 00:30:40,600 --> 00:30:44,000 Speaker 1: this offer isn't available if you've received any benefit at 676 00:30:44,000 --> 00:30:46,680 Speaker 1: all from one of our cards within the past two years. 677 00:30:47,080 --> 00:30:49,640 Speaker 1: But from a personal standpoint, this is something that we 678 00:30:49,680 --> 00:30:53,640 Speaker 1: want to warn people about, Like we want you to 679 00:30:53,720 --> 00:30:56,400 Speaker 1: beware before you attempt, because you're gonna need to pay 680 00:30:56,440 --> 00:31:00,280 Speaker 1: attention very closely. You're gonna need to have like attention 681 00:31:00,400 --> 00:31:01,800 Speaker 1: to detailed skills. 682 00:31:01,600 --> 00:31:04,720 Speaker 3: In order to execute this properly. Like like if you're 683 00:31:04,720 --> 00:31:07,160 Speaker 3: an accountant, you can probably pull this off. Like if 684 00:31:07,160 --> 00:31:10,240 Speaker 3: you're a baker, bakers have to measure pretty precise. Yeah, 685 00:31:10,280 --> 00:31:13,360 Speaker 3: if you are a coder, a programmer, these are all 686 00:31:13,400 --> 00:31:16,800 Speaker 3: things that require precision. What if you're an influencer less 687 00:31:16,800 --> 00:31:19,840 Speaker 3: so I think if you were an influencer or like 688 00:31:19,840 --> 00:31:22,320 Speaker 3: an artist, or if you're a surfer, this may not 689 00:31:22,520 --> 00:31:26,040 Speaker 3: be the practice for you. A lot of folks out 690 00:31:26,080 --> 00:31:28,040 Speaker 3: there who are really into this, they keep a spreadsheet 691 00:31:28,360 --> 00:31:31,200 Speaker 3: where they're keeping up with it. They're checking it, and 692 00:31:31,240 --> 00:31:34,200 Speaker 3: of course they certainly cancel or downgrade the cards before 693 00:31:34,200 --> 00:31:37,239 Speaker 3: they're charged that annual fee. So just know that this 694 00:31:37,320 --> 00:31:40,360 Speaker 3: is more. This is like a like a three thousand 695 00:31:40,400 --> 00:31:43,200 Speaker 3: level class, right, this isn't like the personal finance one 696 00:31:43,240 --> 00:31:45,880 Speaker 3: O one kind of class that we're talking about here. 697 00:31:45,920 --> 00:31:48,920 Speaker 3: But even if you don't turn into a hardcore churner, 698 00:31:48,960 --> 00:31:50,600 Speaker 3: which I don't know if FO would recommend from many 699 00:31:50,640 --> 00:31:53,280 Speaker 3: folks to even consider that, be smart with your credit 700 00:31:53,280 --> 00:31:56,000 Speaker 3: card usage and certainly take full advantage of the perks 701 00:31:56,040 --> 00:31:58,560 Speaker 3: though that your card does offer. Right, like the these 702 00:31:58,600 --> 00:32:01,000 Speaker 3: are benefits that they offer. Don't go out of your 703 00:32:01,040 --> 00:32:04,040 Speaker 3: way necessarily to get as many of these as possible. 704 00:32:04,120 --> 00:32:06,400 Speaker 3: But if there are perks, take advantage of them certainly. 705 00:32:06,520 --> 00:32:09,959 Speaker 3: And of course golden rules of credit don't carry a balance. 706 00:32:10,160 --> 00:32:12,800 Speaker 1: It's also important to note that churning can lead to 707 00:32:13,320 --> 00:32:16,720 Speaker 1: a harmed credit score, especially in the short term. Over 708 00:32:16,800 --> 00:32:18,600 Speaker 1: over time, if you have a bunch of credit cards 709 00:32:18,640 --> 00:32:21,800 Speaker 1: open and you have a high credit limit, then it 710 00:32:21,880 --> 00:32:24,800 Speaker 1: might actually improve your score, but especially in the short term, 711 00:32:24,800 --> 00:32:26,840 Speaker 1: it can ding it. And if you're trying to get 712 00:32:26,840 --> 00:32:29,200 Speaker 1: credit soon, that can be a problem. If you're trying 713 00:32:29,200 --> 00:32:31,160 Speaker 1: to use your credit right to get a loan or 714 00:32:31,200 --> 00:32:34,360 Speaker 1: something like that, and your score is diminished, that can 715 00:32:34,400 --> 00:32:36,719 Speaker 1: be that can be an issue, and the stakes are 716 00:32:36,800 --> 00:32:39,920 Speaker 1: higher than ever two. Now, when we're talking about the 717 00:32:39,960 --> 00:32:42,720 Speaker 1: premium credit cards that come with like the super duper 718 00:32:42,800 --> 00:32:46,000 Speaker 1: high fees, top of the line Amex and Chase options, 719 00:32:46,240 --> 00:32:49,959 Speaker 1: their annual fees are not much under one thousand dollars. 720 00:32:49,960 --> 00:32:51,120 Speaker 2: Now, Matt, it's insane. 721 00:32:51,240 --> 00:32:53,760 Speaker 1: That's a that's a really big annual fee. To overcome 722 00:32:53,800 --> 00:32:55,200 Speaker 1: you have to get a lot of perks from that 723 00:32:55,280 --> 00:32:57,680 Speaker 1: credit card. That's your dad's annual feedl No, No, it's 724 00:32:57,720 --> 00:33:00,280 Speaker 1: not like a ninety five dollars annual fee. He now 725 00:33:00,280 --> 00:33:01,440 Speaker 1: feels like child's play. 726 00:33:01,880 --> 00:33:02,840 Speaker 2: Seems like a steal. 727 00:33:03,040 --> 00:33:07,280 Speaker 1: Yeah, and those cards do come with like significant potential benefits, 728 00:33:07,320 --> 00:33:09,760 Speaker 1: but you often have to work really hard to get 729 00:33:09,800 --> 00:33:12,080 Speaker 1: the benefits to make them matter and jump through some 730 00:33:12,320 --> 00:33:14,360 Speaker 1: hoops or even some of them. It's like, oh, you 731 00:33:14,400 --> 00:33:16,000 Speaker 1: want the full hotel credit, Well you got to do 732 00:33:16,040 --> 00:33:17,960 Speaker 1: the hotel stay in the first half of the year 733 00:33:17,960 --> 00:33:20,280 Speaker 1: and the second half of the year, which, Yeah, you 734 00:33:20,360 --> 00:33:22,640 Speaker 1: just have to really pay attention to the fine print. 735 00:33:22,680 --> 00:33:25,120 Speaker 1: And sometimes they want you to spend in ways that 736 00:33:25,160 --> 00:33:27,720 Speaker 1: you otherwise would not have spent, which means you're like 737 00:33:27,840 --> 00:33:31,480 Speaker 1: manufacturing spending. And so is that actually is this card 738 00:33:31,480 --> 00:33:33,400 Speaker 1: the best for you or is it actually encouraging you 739 00:33:33,440 --> 00:33:36,160 Speaker 1: to spend in ways you would not have otherwise. Oh, 740 00:33:36,240 --> 00:33:39,280 Speaker 1: in City just launched a new high end card. But 741 00:33:39,680 --> 00:33:41,800 Speaker 1: it turns out they don't know what they're doing apparently 742 00:33:41,880 --> 00:33:45,840 Speaker 1: in this space, and so the strata elites fighting words. 743 00:33:46,280 --> 00:33:48,720 Speaker 1: I mean, they was going after City. People were locked 744 00:33:48,720 --> 00:33:52,720 Speaker 1: out of their accounts for weeks without explanation, and so 745 00:33:52,960 --> 00:33:54,360 Speaker 1: City was like trying to get in this game to 746 00:33:54,400 --> 00:33:57,800 Speaker 1: like we're gonna chasing AMX, We're coming for you, and 747 00:33:57,880 --> 00:34:00,640 Speaker 1: then they completely screwed the on the launch. 748 00:34:00,680 --> 00:34:03,440 Speaker 2: We throw up the ball man. Yeah, okay, let's talk 749 00:34:03,480 --> 00:34:07,880 Speaker 2: about the rising costs of health care coverage. We touched 750 00:34:07,880 --> 00:34:09,879 Speaker 2: on that last week. But it's going to cause many 751 00:34:09,880 --> 00:34:12,480 Speaker 2: folks out there to opt for high deductible plans this year. 752 00:34:13,360 --> 00:34:16,680 Speaker 3: That being said, at the same time, folks with bronze 753 00:34:16,920 --> 00:34:19,719 Speaker 3: or folks with more of the catastrophic plans that are 754 00:34:19,719 --> 00:34:24,160 Speaker 3: available through the exchange will also be HSA eligible. Now 755 00:34:24,880 --> 00:34:28,000 Speaker 3: this is great, man. Hsas are truly going mainstream and 756 00:34:28,040 --> 00:34:30,560 Speaker 3: if you have access to one, certainly use it to 757 00:34:30,560 --> 00:34:34,480 Speaker 3: save on taxes, to be able to reduce the out 758 00:34:34,480 --> 00:34:37,480 Speaker 3: of pocket costs that you might have associated with medical expenses. 759 00:34:37,520 --> 00:34:40,520 Speaker 3: But if you are able take full advantage by paying 760 00:34:40,520 --> 00:34:43,720 Speaker 3: for healthcare costs out of pocket and then investing within 761 00:34:44,120 --> 00:34:47,239 Speaker 3: the HSA, that's the ultimate way to use that account. 762 00:34:47,640 --> 00:34:49,320 Speaker 2: It's not going to solve the high cost of health. 763 00:34:49,120 --> 00:34:51,160 Speaker 3: Care in your life, but it can help to dull 764 00:34:51,200 --> 00:34:52,920 Speaker 3: the pain a bit as you've got more more of 765 00:34:52,960 --> 00:34:54,040 Speaker 3: your wealth building. 766 00:34:53,719 --> 00:34:54,280 Speaker 2: For the future. 767 00:34:54,320 --> 00:34:57,319 Speaker 1: And we're basically an open enrollment season or almost there 768 00:34:57,560 --> 00:35:01,600 Speaker 1: for most people who are listening Matt. So the AHSA 769 00:35:01,760 --> 00:35:04,279 Speaker 1: and f s A maybe depending on which one you 770 00:35:04,360 --> 00:35:07,400 Speaker 1: have available to you, do not forget to take advantage 771 00:35:07,440 --> 00:35:10,799 Speaker 1: of those and look into the specifics of how you 772 00:35:10,840 --> 00:35:13,480 Speaker 1: can use them effectively, not just to save on taxes, 773 00:35:13,520 --> 00:35:13,759 Speaker 1: but to. 774 00:35:13,760 --> 00:35:14,359 Speaker 2: Grow your wealth. 775 00:35:14,640 --> 00:35:18,400 Speaker 1: We've got more information about those accounts up on our 776 00:35:18,400 --> 00:35:19,640 Speaker 1: site at how the money dot com. 777 00:35:20,000 --> 00:35:20,279 Speaker 2: And Matt. 778 00:35:20,320 --> 00:35:23,640 Speaker 1: While we're talking about healthcare, let's talk about prescriptions because 779 00:35:24,000 --> 00:35:26,440 Speaker 1: I thought this was a really cool story. A prescription 780 00:35:26,719 --> 00:35:31,080 Speaker 1: vending machine has now arrived on the scene. Yeah, can you, 781 00:35:31,160 --> 00:35:32,839 Speaker 1: like you remember how you people try to stick their 782 00:35:32,840 --> 00:35:34,640 Speaker 1: hands up to get a coke out of the vending machine. 783 00:35:34,760 --> 00:35:35,880 Speaker 1: What if you do that with the meds? Do you 784 00:35:35,920 --> 00:35:40,120 Speaker 1: think that's possible? Or probably sophisticated, well made machines, the fancy. Yeah, 785 00:35:40,120 --> 00:35:42,560 Speaker 1: I can just shake it and get you know, percoset, 786 00:35:42,560 --> 00:35:43,680 Speaker 1: three bottles of vice profen. 787 00:35:44,040 --> 00:35:49,200 Speaker 2: Yeah, well that's not even a prescription drug. So that's true. Yeah, 788 00:35:49,239 --> 00:35:51,719 Speaker 2: but I'm not big on the meds biotics. We don't 789 00:35:51,719 --> 00:35:52,399 Speaker 2: really do we don't. 790 00:35:52,480 --> 00:35:54,719 Speaker 3: Yeah, I'm more of a spray index on it kind 791 00:35:54,719 --> 00:35:58,760 Speaker 3: of guy's a thig fat Greek wedding reference. 792 00:35:58,880 --> 00:36:02,200 Speaker 2: Okay, it's long time. I don't know, although I did 793 00:36:02,280 --> 00:36:02,600 Speaker 2: watch it. 794 00:36:02,640 --> 00:36:04,840 Speaker 3: I think rub some dirt on it, spray some windecks 795 00:36:04,880 --> 00:36:07,200 Speaker 3: on it, drink some kombucha. 796 00:36:08,400 --> 00:36:10,560 Speaker 2: We're a little crunch here. That's that's what I'm getting. 797 00:36:10,560 --> 00:36:11,080 Speaker 2: It's true. 798 00:36:11,360 --> 00:36:14,759 Speaker 1: So Amazon is launching these prescription vending machines. They're going 799 00:36:14,800 --> 00:36:16,959 Speaker 1: to be at one medical clinics across the country, which 800 00:36:16,960 --> 00:36:19,279 Speaker 1: they have or I don't know if they own them 801 00:36:19,360 --> 00:36:21,719 Speaker 1: or just have like a relationship with them. But it's 802 00:36:21,760 --> 00:36:24,560 Speaker 1: going to make it easier for patients to get basic 803 00:36:24,640 --> 00:36:27,840 Speaker 1: meds right after an employment, like an antibiotic or something 804 00:36:27,880 --> 00:36:30,040 Speaker 1: like that. And I think it's cool, man, I think 805 00:36:30,040 --> 00:36:31,680 Speaker 1: it's just great. I think it's going to make it 806 00:36:31,719 --> 00:36:34,319 Speaker 1: a lot simpler for people to get their prescription, not 807 00:36:34,360 --> 00:36:37,160 Speaker 1: even having to go down the street to get that prescription, 808 00:36:37,600 --> 00:36:39,560 Speaker 1: and it's likely going to be cheaper than a lot 809 00:36:39,560 --> 00:36:42,759 Speaker 1: of the big drug stores, if Amazon's prescription pricing is 810 00:36:42,760 --> 00:36:45,120 Speaker 1: any indication of what they're going to cost at these 811 00:36:45,200 --> 00:36:47,839 Speaker 1: vending machines. But I also want to highlight the fact 812 00:36:47,840 --> 00:36:51,800 Speaker 1: that they're probably not the cheapest that that's reserved typically 813 00:36:51,840 --> 00:36:55,040 Speaker 1: for places like Costco and for cost Plus Drugs, those 814 00:36:55,080 --> 00:36:57,280 Speaker 1: are the best low cost places to turn for a prescription. 815 00:36:57,400 --> 00:36:59,120 Speaker 1: So just yeah, maybe you get it and you pay 816 00:36:59,320 --> 00:37:01,800 Speaker 1: a few dollars more because it's so super duper convenient. 817 00:37:02,000 --> 00:37:04,680 Speaker 1: But I think, especially if you have a recurring prescription, 818 00:37:04,800 --> 00:37:08,960 Speaker 1: need check those other guys out, Costplus Drugs being like 819 00:37:09,080 --> 00:37:11,480 Speaker 1: my favorite right now, as I've done some shopping for 820 00:37:11,600 --> 00:37:13,960 Speaker 1: a medication for our daughter recently, and it was like 821 00:37:14,000 --> 00:37:17,320 Speaker 1: by far the lowest, lowest one other thing matt for 822 00:37:17,680 --> 00:37:20,840 Speaker 1: people who take up recurring prescription, like the longer you 823 00:37:20,960 --> 00:37:23,520 Speaker 1: get for a prescription, length you can get up to 824 00:37:23,520 --> 00:37:26,359 Speaker 1: like one hundred and eighty days prescriptions. It can save 825 00:37:26,360 --> 00:37:27,960 Speaker 1: you a ton of money too, So like a ninety 826 00:37:28,040 --> 00:37:30,000 Speaker 1: day prescription might be like thirty bucks, and one hundred 827 00:37:30,000 --> 00:37:31,880 Speaker 1: and eighty day prescription might be like forty bucks. 828 00:37:32,320 --> 00:37:34,319 Speaker 2: And so sounds like a new brainer. Oh yeah, you're like, 829 00:37:34,320 --> 00:37:36,040 Speaker 2: I save it a ton and you just don't have 830 00:37:36,040 --> 00:37:36,960 Speaker 2: to think about it as often. 831 00:37:37,080 --> 00:37:39,719 Speaker 3: Yeah, Or get you a bottle of window cleaner and 832 00:37:40,040 --> 00:37:43,080 Speaker 3: you're all set there you go, All right, that's gonna 833 00:37:43,080 --> 00:37:45,040 Speaker 3: be it for this episode this Friday flight. You can 834 00:37:45,080 --> 00:37:47,040 Speaker 3: find our show notes up on the web website at 835 00:37:47,040 --> 00:37:50,279 Speaker 3: how too money dot com. We hope everyone has a 836 00:37:50,320 --> 00:37:53,440 Speaker 3: fantastic weekend and we'll see you back here next week. 837 00:37:53,719 --> 00:37:57,360 Speaker 3: So until then, best friends out, best friends out? 838 00:38:00,080 --> 00:38:11,560 Speaker 2: M h, what's that pause? A say so until next time? 839 00:38:12,280 --> 00:38:15,400 Speaker 2: Did you said so? Until then? Oh? Did I so? 840 00:38:15,560 --> 00:38:17,480 Speaker 2: I was like selling beer in the headlights.