1 00:00:00,080 --> 00:00:03,000 Speaker 1: Welcome to How the Money. I'm Joel and I am Matt. 2 00:00:03,200 --> 00:00:25,119 Speaker 1: Today we're breaking down more common money phrases. Yeah, Joel, 3 00:00:25,120 --> 00:00:26,520 Speaker 1: not only are there a lot of dumb things that 4 00:00:26,560 --> 00:00:29,360 Speaker 1: we often here, but we will in turn take those 5 00:00:29,440 --> 00:00:32,559 Speaker 1: dumb things, internalize them, and say those same dumb things 6 00:00:32,560 --> 00:00:37,160 Speaker 1: again because oftentimes, when we hear phrases being used out 7 00:00:37,159 --> 00:00:38,519 Speaker 1: in the you know, out in the world, out in 8 00:00:38,600 --> 00:00:41,080 Speaker 1: social settings, we believe this phrases to be true. We 9 00:00:41,080 --> 00:00:43,640 Speaker 1: think they're factual, uh, and that can lead us astray, 10 00:00:43,840 --> 00:00:46,040 Speaker 1: especially when it comes to our money. This is kind 11 00:00:46,040 --> 00:00:48,120 Speaker 1: of a part two. We've already covered a lot of 12 00:00:48,120 --> 00:00:50,279 Speaker 1: different money phrases that are out there, but there are 13 00:00:50,320 --> 00:00:52,360 Speaker 1: just so many that we went in to dedicate an 14 00:00:52,400 --> 00:00:55,000 Speaker 1: additional episode to some of these different money phrases that 15 00:00:55,040 --> 00:00:56,920 Speaker 1: we often hear. No doubt, we got some good ones 16 00:00:57,040 --> 00:00:59,240 Speaker 1: on the docket for today to kind of talk about, 17 00:00:59,320 --> 00:01:01,120 Speaker 1: just so that next time you hear them, you don't 18 00:01:01,120 --> 00:01:03,640 Speaker 1: just automatically assume they're true. You run them through a filter. 19 00:01:03,720 --> 00:01:05,679 Speaker 1: And so, yeah, we're gonna be the filter on today's episode. 20 00:01:05,720 --> 00:01:07,759 Speaker 1: And here's the thing too, we already actually started working 21 00:01:07,760 --> 00:01:11,000 Speaker 1: on the outline for episode three because there are a 22 00:01:11,000 --> 00:01:13,000 Speaker 1: bunch that we didn't want to include because we're just 23 00:01:13,000 --> 00:01:15,040 Speaker 1: gonna end up going along. I think. So we might 24 00:01:15,040 --> 00:01:16,920 Speaker 1: get to another episode like this here in a few months. 25 00:01:17,000 --> 00:01:19,080 Speaker 1: There we go all right, But before we get to that, Matt, 26 00:01:19,200 --> 00:01:22,920 Speaker 1: I wanted to mention that recently I was hanging out 27 00:01:22,959 --> 00:01:25,360 Speaker 1: on one of the deal websites like I do sometimes. 28 00:01:26,200 --> 00:01:28,280 Speaker 1: It's like, deal is probably be my favorite one. Let 29 00:01:28,360 --> 00:01:32,039 Speaker 1: you do this weekend just hanging out on the deal side. Now, 30 00:01:32,120 --> 00:01:33,680 Speaker 1: I'll do like a brief check every now and again, 31 00:01:33,760 --> 00:01:35,440 Speaker 1: like you know, four, three or five times a week, 32 00:01:36,080 --> 00:01:40,000 Speaker 1: maybe seven times a week. And so I need a 33 00:01:40,040 --> 00:01:42,720 Speaker 1: new water heater for my home. We're making some changes 34 00:01:43,080 --> 00:01:45,200 Speaker 1: and it's one of those things where it's like I'm 35 00:01:45,240 --> 00:01:47,560 Speaker 1: just on the lookout for the right one. And one 36 00:01:47,600 --> 00:01:49,320 Speaker 1: of the things we're doing is we're going from natural 37 00:01:49,320 --> 00:01:51,160 Speaker 1: gas to electric. It costs a little more per year, 38 00:01:51,440 --> 00:01:53,480 Speaker 1: but there's so many reasons we had to do that, 39 00:01:53,480 --> 00:01:54,920 Speaker 1: and I don't want to go into all that right now, 40 00:01:55,040 --> 00:01:59,000 Speaker 1: but yeah, I ended up finding one. Uh Slick Deals 41 00:01:59,080 --> 00:02:01,880 Speaker 1: mentioned that there was a two hundred dollar electric water 42 00:02:01,920 --> 00:02:05,080 Speaker 1: heater brand new from Costco, and I was like, Uh, 43 00:02:05,160 --> 00:02:07,400 Speaker 1: this is perfect. This is money. So you're like, I 44 00:02:07,440 --> 00:02:11,160 Speaker 1: like Costco and like we've shared recently, I too also 45 00:02:11,360 --> 00:02:14,440 Speaker 1: like Costco. You are you're a recent convert finally a convert, 46 00:02:14,440 --> 00:02:16,800 Speaker 1: which I appreciate. But yeah, so I just want to live. 47 00:02:16,840 --> 00:02:19,160 Speaker 1: People know that, like sometimes those deal sites, they can 48 00:02:19,400 --> 00:02:20,840 Speaker 1: if we spend too much time on them, we can 49 00:02:20,880 --> 00:02:22,520 Speaker 1: be prone to spend too much money. But if you 50 00:02:22,560 --> 00:02:24,560 Speaker 1: know what you're looking for, and especially if you like 51 00:02:24,639 --> 00:02:26,720 Speaker 1: hit the search bar up there and you're just searching 52 00:02:26,800 --> 00:02:29,520 Speaker 1: for the particular item that you're in need of. So 53 00:02:29,639 --> 00:02:31,600 Speaker 1: I was able to pounce man, and that's a normally 54 00:02:31,760 --> 00:02:33,799 Speaker 1: six d fifty dollar water heater that I got for 55 00:02:33,800 --> 00:02:36,839 Speaker 1: two hundred dollars because they're clearancing. That's like good discount. Yeah, 56 00:02:36,840 --> 00:02:38,680 Speaker 1: that's a sweet discount. So and I got a shipped 57 00:02:38,680 --> 00:02:40,480 Speaker 1: to my home. It didn't cost additional money for shipping. 58 00:02:40,480 --> 00:02:43,640 Speaker 1: I was so surprised that that's actually pretty great delivered 59 00:02:43,639 --> 00:02:45,400 Speaker 1: to your doorstep. Go pick that thing up in person. 60 00:02:45,720 --> 00:02:48,079 Speaker 1: And I definitely could have used this hot water heater. 61 00:02:48,240 --> 00:02:50,519 Speaker 1: What like five months ago, I had to replace uh 62 00:02:50,760 --> 00:02:52,720 Speaker 1: an electric hot water heater in one of my rentals, 63 00:02:52,720 --> 00:02:54,720 Speaker 1: and we talked about how I had gotten one that 64 00:02:54,880 --> 00:02:58,320 Speaker 1: was used for free, and it sat up under our 65 00:02:58,360 --> 00:03:00,880 Speaker 1: house to use to put the use for like a 66 00:03:00,919 --> 00:03:03,799 Speaker 1: couple of years. But then finally the plumber was like, nope, 67 00:03:04,040 --> 00:03:06,640 Speaker 1: I mean, I can you know, install it, but you know, 68 00:03:06,680 --> 00:03:08,120 Speaker 1: there's no promise that it is not going to go 69 00:03:08,160 --> 00:03:11,520 Speaker 1: out next year. And we couldn't find any info on 70 00:03:11,600 --> 00:03:14,240 Speaker 1: the hot water heater as to when it was manufactured, 71 00:03:14,280 --> 00:03:15,760 Speaker 1: so I didn't know if it was gonna last yeah, 72 00:03:15,760 --> 00:03:17,679 Speaker 1: one year or maybe a solid fifteen it if it 73 00:03:17,720 --> 00:03:19,640 Speaker 1: had only been installed for a year at the previous home, 74 00:03:19,680 --> 00:03:22,359 Speaker 1: it was probably gonna cheapest out of frugal to yeah, 75 00:03:22,400 --> 00:03:24,560 Speaker 1: paper the labor and then have to get a reinstalled 76 00:03:24,639 --> 00:03:26,400 Speaker 1: a new one in a couple of years. I did 77 00:03:26,480 --> 00:03:28,440 Speaker 1: not want to have that regret. And at this point, 78 00:03:28,480 --> 00:03:31,760 Speaker 1: I know there's a perfectly brand new, manufacturer covered hot 79 00:03:31,760 --> 00:03:33,959 Speaker 1: water heater in that house, but I wish I would 80 00:03:33,960 --> 00:03:35,600 Speaker 1: have been able to snack it for two. Man, that's 81 00:03:35,600 --> 00:03:37,240 Speaker 1: a good deal, pretty sweet deal. Good for you. Every 82 00:03:37,280 --> 00:03:38,600 Speaker 1: once in a while you get one of those things 83 00:03:38,600 --> 00:03:41,000 Speaker 1: falls into your lap and you think the deal, Gods, 84 00:03:41,080 --> 00:03:44,240 Speaker 1: let's just gotta do afterwards. Okay, So since I am 85 00:03:44,280 --> 00:03:47,440 Speaker 1: relatively newer to Costco. Do they sell large appliances like 86 00:03:47,480 --> 00:03:50,080 Speaker 1: that often or Okay, so they got like water heaters, 87 00:03:50,120 --> 00:03:54,720 Speaker 1: like beds, you can get dishwashers, yeah, yeah, yeah, dishwashers, 88 00:03:54,960 --> 00:03:59,120 Speaker 1: fridges everything, Yeah, washer dryers as well. Yeah, okay, totally 89 00:03:59,120 --> 00:04:01,480 Speaker 1: gotta keep that in mind. All the appliances you could 90 00:04:01,520 --> 00:04:03,600 Speaker 1: ever need, Matthew, these are things that they don't sell 91 00:04:03,600 --> 00:04:05,760 Speaker 1: it Aldi. And here's the thing. I've actually found that 92 00:04:05,800 --> 00:04:08,960 Speaker 1: we haven't yet been using our Costco membership to its 93 00:04:09,000 --> 00:04:11,360 Speaker 1: fullest potential. We still go to Aldi for the vast 94 00:04:11,360 --> 00:04:13,240 Speaker 1: majority of our groceries, but I'm curious to see how 95 00:04:13,320 --> 00:04:15,280 Speaker 1: our behaviors change here in the coming months. Yeah, it's 96 00:04:15,280 --> 00:04:17,760 Speaker 1: gonna take time, but she'll get there. I'll keep you posted, 97 00:04:17,760 --> 00:04:20,560 Speaker 1: I'll shove you along. Yeah, let's mention the beer we're 98 00:04:20,560 --> 00:04:23,680 Speaker 1: having on this episode. It's called Elderberry Northwest sour Ale 99 00:04:23,720 --> 00:04:26,240 Speaker 1: and it's by Cascade Brewing and matt Um. It's made 100 00:04:26,240 --> 00:04:28,440 Speaker 1: with elderberries, which just always makes me think of Monty 101 00:04:28,440 --> 00:04:32,039 Speaker 1: Python and the Holy Grail. Your father smelled of elderberry. 102 00:04:32,279 --> 00:04:34,680 Speaker 1: So yeah, we'll give our thoughts on this beer at 103 00:04:34,720 --> 00:04:36,920 Speaker 1: the end of the episode, but for now, let's move 104 00:04:36,920 --> 00:04:39,000 Speaker 1: on and get to the topic in hand. We're breaking 105 00:04:39,000 --> 00:04:41,279 Speaker 1: down more common money phrases. And now we we really 106 00:04:41,279 --> 00:04:44,040 Speaker 1: did just have so much fun talking about some common 107 00:04:44,040 --> 00:04:47,080 Speaker 1: money phrases and the truthfulness or lack thereof back in 108 00:04:47,120 --> 00:04:49,200 Speaker 1: the episode three thirty five that we figured, let's do 109 00:04:49,200 --> 00:04:50,960 Speaker 1: it again, let's find some more because there are a 110 00:04:51,040 --> 00:04:53,960 Speaker 1: lot of money phrases floating around. They're stuck in our 111 00:04:53,960 --> 00:04:56,960 Speaker 1: brain in one way, form or fashion um and sometimes 112 00:04:57,040 --> 00:04:59,480 Speaker 1: they're informing our money beliefs. So we figured it was 113 00:04:59,520 --> 00:05:01,400 Speaker 1: a good idea to hit up even more of these 114 00:05:01,440 --> 00:05:04,719 Speaker 1: money phrases and dissect a few extras, because, yeah, those 115 00:05:04,720 --> 00:05:07,000 Speaker 1: sayings bore into our brains if we hear them enough. 116 00:05:07,080 --> 00:05:09,520 Speaker 1: Like you said, we believe that they're facts. But so 117 00:05:09,560 --> 00:05:11,640 Speaker 1: many of these sayings have flaws in them, and some 118 00:05:11,720 --> 00:05:15,320 Speaker 1: of them they have worse than flaws, just downright inaccurate. 119 00:05:15,839 --> 00:05:18,000 Speaker 1: And so yeah, today let's Matt like talk talk through 120 00:05:18,040 --> 00:05:20,080 Speaker 1: some more, think through some more, and see maybe where 121 00:05:20,080 --> 00:05:24,040 Speaker 1: the potential truth and have truths lie. Yeah, an example 122 00:05:24,320 --> 00:05:26,680 Speaker 1: that comes to mind that isn't money related. Actually, So 123 00:05:26,720 --> 00:05:28,919 Speaker 1: it's summertime and a lot of folks are probably doing 124 00:05:29,000 --> 00:05:32,760 Speaker 1: a lot more grilling cooking outside. We definitely have, as 125 00:05:32,960 --> 00:05:35,000 Speaker 1: we've been cooking a ton more on our our flat 126 00:05:35,000 --> 00:05:38,480 Speaker 1: top griddle. And you always hear folks say that they 127 00:05:38,480 --> 00:05:40,600 Speaker 1: want to get the thing really sticking hot in order 128 00:05:40,640 --> 00:05:42,719 Speaker 1: to sear the meat. Right, I've heard that before. That's 129 00:05:42,880 --> 00:05:45,400 Speaker 1: what I attempt to do. But you're saying I'm wrong. Well, 130 00:05:45,720 --> 00:05:48,000 Speaker 1: I do this as well, but oftentimes the phrases you 131 00:05:48,000 --> 00:05:49,479 Speaker 1: want to sear the meat so you can lock in 132 00:05:49,480 --> 00:05:52,280 Speaker 1: that moisture like you see the meat. I believe that 133 00:05:52,440 --> 00:05:54,280 Speaker 1: is that not true? It is not true. No, Yeah, 134 00:05:54,520 --> 00:05:56,839 Speaker 1: and so I'm pretty sure that I've even said this before. 135 00:05:57,000 --> 00:05:59,040 Speaker 1: But it turns out that this is false. There are 136 00:05:59,040 --> 00:06:00,960 Speaker 1: a bunch of studies out there and experiments to back 137 00:06:01,000 --> 00:06:03,640 Speaker 1: this up. Alton Brown he even didn't experiment and found 138 00:06:03,720 --> 00:06:07,840 Speaker 1: that seared meat was actually less moist than an identical 139 00:06:07,920 --> 00:06:10,960 Speaker 1: piece that's cooked the exact same internal temperature. I would 140 00:06:10,960 --> 00:06:13,560 Speaker 1: trust Alton Brown with my life, so I believe. Yeah, 141 00:06:13,560 --> 00:06:15,880 Speaker 1: I like his methodology. Um, and so this is a 142 00:06:15,880 --> 00:06:18,400 Speaker 1: simple example of a line of thought that is just 143 00:06:18,480 --> 00:06:20,120 Speaker 1: not true, even though you hear it all the time, 144 00:06:20,160 --> 00:06:21,680 Speaker 1: even though that it might be something that you have 145 00:06:21,760 --> 00:06:24,359 Speaker 1: even stated. I'm pretty sure, I've said it before, but 146 00:06:24,400 --> 00:06:26,680 Speaker 1: now I know that it's not true. That doesn't here 147 00:06:26,839 --> 00:06:28,600 Speaker 1: all this to say, that doesn't mean you don't want 148 00:06:28,600 --> 00:06:30,920 Speaker 1: to brown your meat, because you do add flavor from 149 00:06:30,960 --> 00:06:34,640 Speaker 1: the browning. What is it the like malle effect? It 150 00:06:34,760 --> 00:06:36,640 Speaker 1: was like the it's named after a French guy I've 151 00:06:36,640 --> 00:06:38,039 Speaker 1: heard all. I thought it was named after the duck. 152 00:06:38,160 --> 00:06:41,520 Speaker 1: Oh yeah, nope, Mallard duck. But there's like, there is 153 00:06:41,560 --> 00:06:44,120 Speaker 1: an actual chemical reaction that takes place and your food 154 00:06:44,160 --> 00:06:47,080 Speaker 1: it changes at a molecular level when you brown food. 155 00:06:47,080 --> 00:06:50,800 Speaker 1: That's why we're drawn to brown meats in different catermalization 156 00:06:50,920 --> 00:06:53,240 Speaker 1: effects that that occur when you cook, and so you 157 00:06:53,279 --> 00:06:55,359 Speaker 1: do it for the flavor. But you don't do it 158 00:06:55,400 --> 00:06:57,960 Speaker 1: because you think you're creating like this crust where you're 159 00:06:57,960 --> 00:07:00,600 Speaker 1: locking in that moisture on the inside. It's just not true. Okay, 160 00:07:00,600 --> 00:07:03,279 Speaker 1: all right, Well that's one important misconception clear up right 161 00:07:03,279 --> 00:07:05,080 Speaker 1: there for all our foodies out there. The more you know, 162 00:07:06,440 --> 00:07:08,480 Speaker 1: and part of the difficulty is that we live in 163 00:07:08,600 --> 00:07:11,520 Speaker 1: the information age. There's just no shortage of pithy sayings 164 00:07:11,560 --> 00:07:15,120 Speaker 1: that were inundated with and everyone's gotten an opinion. Nobody 165 00:07:15,120 --> 00:07:18,120 Speaker 1: minds tweeting it out like to spur of the moment. 166 00:07:18,280 --> 00:07:19,880 Speaker 1: Here's what I think I would put it out there 167 00:07:19,920 --> 00:07:22,440 Speaker 1: in a hundred forty or whatever. It's two Internet characters. Now, 168 00:07:22,440 --> 00:07:24,239 Speaker 1: I think they plumped it up for everyone to see. 169 00:07:24,560 --> 00:07:28,000 Speaker 1: But yeah, thoughtful conversation and insightful nuance is kind of 170 00:07:28,000 --> 00:07:30,280 Speaker 1: more rarity. It's harder to find that, although I think 171 00:07:30,280 --> 00:07:32,840 Speaker 1: that's making a comeback in some parts of the Internet, 172 00:07:32,880 --> 00:07:35,280 Speaker 1: and I'm glad to see that podcasting is one of them. 173 00:07:35,320 --> 00:07:37,440 Speaker 1: There's some more thoughtful YouTube channels out there doing some 174 00:07:37,520 --> 00:07:41,120 Speaker 1: of like more in depth conversational type stuff. But that's 175 00:07:41,160 --> 00:07:42,960 Speaker 1: our goal with this show, is to have more of 176 00:07:43,000 --> 00:07:46,040 Speaker 1: that long form, rational approach to money topics as opposed 177 00:07:46,080 --> 00:07:50,040 Speaker 1: to the hot take money topic conversations that sometimes get had, 178 00:07:50,280 --> 00:07:52,880 Speaker 1: especially on social media. But yeah, that's why today we're 179 00:07:52,880 --> 00:07:56,080 Speaker 1: gonna tackle more of these common money phrases which tend 180 00:07:56,200 --> 00:08:00,360 Speaker 1: to become common money misconceptions instead. And Matt, let's get 181 00:08:00,360 --> 00:08:02,760 Speaker 1: to the first one. This one actually comes from a 182 00:08:02,960 --> 00:08:05,280 Speaker 1: movie that was popular back in the day, and you 183 00:08:05,280 --> 00:08:07,840 Speaker 1: actually recently rewatched it, didn't you. Well, I never had 184 00:08:07,840 --> 00:08:09,280 Speaker 1: seen it, and so I just wanted to see it 185 00:08:09,320 --> 00:08:11,320 Speaker 1: because I'm like, all right, I talk about money every 186 00:08:11,320 --> 00:08:14,120 Speaker 1: single day. I need to have seen Wall Street, the 187 00:08:14,160 --> 00:08:16,320 Speaker 1: old Dadies movie. Al Right, so this one is greed 188 00:08:16,440 --> 00:08:18,840 Speaker 1: is good? Right, And that was what Gordon Geko said, 189 00:08:18,880 --> 00:08:20,880 Speaker 1: what in this shareholder meeting during the movie. It's been 190 00:08:20,920 --> 00:08:22,400 Speaker 1: a long time so I've seen, right, I don't think 191 00:08:22,440 --> 00:08:25,120 Speaker 1: I've ever heard anybody in the course of normal conversation 192 00:08:25,520 --> 00:08:29,120 Speaker 1: say greed is good. That would uh in polite company, 193 00:08:29,160 --> 00:08:31,320 Speaker 1: people might shame you or like look at you a 194 00:08:31,320 --> 00:08:33,960 Speaker 1: little differently, But that is yeah, the phrase like, let's 195 00:08:34,000 --> 00:08:35,960 Speaker 1: distact that one real quick. Yeah, that's an attribute that 196 00:08:36,000 --> 00:08:38,760 Speaker 1: most people wouldn't be proud of, right, Like it would 197 00:08:38,760 --> 00:08:41,360 Speaker 1: take a like a brazen individual to say, oh, yeah, 198 00:08:41,400 --> 00:08:44,240 Speaker 1: I believe greed is good and I'm all for it. 199 00:08:44,280 --> 00:08:46,120 Speaker 1: But because of that, I almost feel that it's even 200 00:08:46,240 --> 00:08:49,640 Speaker 1: more insidious because so anytime there's something that you don't 201 00:08:49,640 --> 00:08:51,920 Speaker 1: really talk about, even though it's like they're a little bit, 202 00:08:52,040 --> 00:08:53,719 Speaker 1: I feel like it can find its way into your 203 00:08:53,840 --> 00:08:56,000 Speaker 1: life without you even realizing it. And so I feel 204 00:08:56,000 --> 00:08:57,960 Speaker 1: like that's maybe a reason that we should like even 205 00:08:58,000 --> 00:09:01,520 Speaker 1: be even more careful about green. But that being said, yeah, 206 00:09:01,559 --> 00:09:04,800 Speaker 1: what is true about this phrase, because obviously greed is 207 00:09:04,880 --> 00:09:06,960 Speaker 1: mostly negative, you know, it's one of the seven Deadly 208 00:09:07,040 --> 00:09:10,600 Speaker 1: sins after all, but enlightened self interest, let's an economic 209 00:09:10,679 --> 00:09:12,959 Speaker 1: term for the role that greed plays and free markets, 210 00:09:13,320 --> 00:09:15,280 Speaker 1: and it's a huge part of what makes our free 211 00:09:15,280 --> 00:09:17,960 Speaker 1: market society work the way that it does, and that's 212 00:09:17,960 --> 00:09:20,920 Speaker 1: what makes the pie bigger for society as a whole. Right, 213 00:09:20,960 --> 00:09:24,319 Speaker 1: we're talking about innovation and progress, and oftentimes some folks 214 00:09:24,360 --> 00:09:27,600 Speaker 1: will say that greed spurs that on. Uh, and so, yeah, 215 00:09:27,720 --> 00:09:30,520 Speaker 1: greed in that context is that desire to do something 216 00:09:30,520 --> 00:09:33,600 Speaker 1: that benefits a lot of other people, to work together 217 00:09:33,640 --> 00:09:36,520 Speaker 1: and to collaborate in order to make sure that you 218 00:09:36,559 --> 00:09:39,040 Speaker 1: can earn a living and create further good, you know, 219 00:09:39,080 --> 00:09:40,880 Speaker 1: not just for yourself but for others. That's the way 220 00:09:40,880 --> 00:09:43,000 Speaker 1: that we can justify greed. Maybe just a little bit, 221 00:09:43,000 --> 00:09:44,679 Speaker 1: but it does feel like that we are kind of 222 00:09:44,679 --> 00:09:47,600 Speaker 1: performing some acrobatics in order to in order to say 223 00:09:47,600 --> 00:09:49,520 Speaker 1: that it's okay. Yeah, yeah, well I do think it 224 00:09:49,559 --> 00:09:52,320 Speaker 1: is okay in that one context. I think the putting 225 00:09:52,360 --> 00:09:55,400 Speaker 1: something good out into the world, serving customers, there is 226 00:09:55,440 --> 00:09:58,120 Speaker 1: an element to which you're trying to be able to 227 00:09:58,160 --> 00:09:59,920 Speaker 1: pay the bills or take your family on a vacation, 228 00:10:00,240 --> 00:10:03,440 Speaker 1: and so your job, your work does have some tie 229 00:10:03,760 --> 00:10:08,000 Speaker 1: towards compensation, and like that's a necessary component to all 230 00:10:08,040 --> 00:10:10,280 Speaker 1: of our lives. And so I think that that enlightened 231 00:10:10,280 --> 00:10:12,960 Speaker 1: self interest is not the exact same thing as greed, 232 00:10:12,960 --> 00:10:15,600 Speaker 1: but it's definitely a cousin and yeah, yeah, and it's related, 233 00:10:15,720 --> 00:10:19,040 Speaker 1: yeah exactly. But yeah, greed obviously does have more downside 234 00:10:19,040 --> 00:10:21,800 Speaker 1: than upside, that's for sure. And it's the root cause 235 00:10:21,800 --> 00:10:23,760 Speaker 1: of a lot of scams that part people from their money. 236 00:10:23,800 --> 00:10:25,960 Speaker 1: Think about Bernie made Off. That's a result of un 237 00:10:26,040 --> 00:10:28,720 Speaker 1: checked reed, people thinking that they could earn double digit 238 00:10:28,920 --> 00:10:32,480 Speaker 1: returns every single year without ever seeing a negative return 239 00:10:32,679 --> 00:10:34,319 Speaker 1: at any point in time. And they're like, this is 240 00:10:34,600 --> 00:10:37,520 Speaker 1: what the market is doing. You're always going you're always 241 00:10:37,520 --> 00:10:39,880 Speaker 1: coming out on top, and that is a sign of greed, 242 00:10:39,960 --> 00:10:42,360 Speaker 1: like get those dollar signs in your eyes actually leading 243 00:10:42,400 --> 00:10:46,200 Speaker 1: to your downfall. Like predatory lenders, that's another area where 244 00:10:46,400 --> 00:10:50,000 Speaker 1: those people are greedy. They're taking advantage of folks. Six 245 00:10:50,559 --> 00:10:53,520 Speaker 1: interest rates I personally don't think should be legal in 246 00:10:53,600 --> 00:10:57,679 Speaker 1: they're bad for society. And yeah, like greed, also on 247 00:10:57,800 --> 00:11:00,319 Speaker 1: the individual level, it can act like a set of enders, 248 00:11:00,360 --> 00:11:03,000 Speaker 1: causing us to make unhealthy decisions with our money. When 249 00:11:03,120 --> 00:11:05,560 Speaker 1: our desire to do well with our money turns into 250 00:11:05,600 --> 00:11:08,720 Speaker 1: this insatiable desire for more money just for the sake 251 00:11:08,760 --> 00:11:10,920 Speaker 1: of it, we run the risk of turning a good 252 00:11:10,920 --> 00:11:13,559 Speaker 1: thing into something that can cause us to take unnecessary 253 00:11:13,679 --> 00:11:17,760 Speaker 1: risks with our money right, potentially causing severe financial harm um. 254 00:11:17,760 --> 00:11:20,640 Speaker 1: But even more importantly, matt like obviously, getting too greedy 255 00:11:21,040 --> 00:11:23,000 Speaker 1: signing up with somebody like Murning made off good cause 256 00:11:23,080 --> 00:11:25,920 Speaker 1: us to lose a fortune. But the love of money 257 00:11:26,040 --> 00:11:29,079 Speaker 1: and an intense greediness UH will cause us to lose 258 00:11:29,200 --> 00:11:31,560 Speaker 1: focus on what truly matters in life. We begin to 259 00:11:31,559 --> 00:11:34,880 Speaker 1: put the emphasis way too strongly on the tool, and 260 00:11:34,920 --> 00:11:36,760 Speaker 1: the tool is what's supposed to allow us to do 261 00:11:36,800 --> 00:11:39,120 Speaker 1: all these other things to magnify the good things in 262 00:11:39,120 --> 00:11:43,559 Speaker 1: our life, which are usually free, which are usually people, relationships, places, community, 263 00:11:43,880 --> 00:11:45,760 Speaker 1: and Yeah, when we put the focus all the money 264 00:11:45,760 --> 00:11:48,480 Speaker 1: and we get greedy for more, it's just a bad recipe. Yeah. 265 00:11:48,520 --> 00:11:51,920 Speaker 1: Not only can greedily to irreparable damage to your finances, 266 00:11:51,920 --> 00:11:54,320 Speaker 1: but it could severely hurt some relationships UH in your 267 00:11:54,360 --> 00:11:56,520 Speaker 1: life as well. But moving onto our next phrase, the 268 00:11:56,559 --> 00:11:58,680 Speaker 1: next one we're gonna get to is there's no such 269 00:11:58,720 --> 00:12:01,040 Speaker 1: thing as a free lunch. And you've also heard this 270 00:12:01,080 --> 00:12:03,440 Speaker 1: one as if it's too good to be true. It is, 271 00:12:03,800 --> 00:12:06,439 Speaker 1: and so there are times when you actually do get 272 00:12:06,480 --> 00:12:09,720 Speaker 1: something for nothing, but like, let's be honest, that's really rare. 273 00:12:10,160 --> 00:12:13,280 Speaker 1: Our friend Deacon actually recently told us that he won 274 00:12:13,360 --> 00:12:16,240 Speaker 1: this legit free trip to Hawaii after signing up for 275 00:12:16,559 --> 00:12:19,400 Speaker 1: this contest. He was going to delete the email because 276 00:12:19,400 --> 00:12:22,160 Speaker 1: it seems spammy, of course, but then he thought better 277 00:12:22,200 --> 00:12:24,040 Speaker 1: of it and gave it once over. He realized that 278 00:12:24,120 --> 00:12:26,160 Speaker 1: this was a legit company that he had done business 279 00:12:26,160 --> 00:12:28,840 Speaker 1: with before. It was a legit email, uh, and the 280 00:12:28,880 --> 00:12:31,800 Speaker 1: contest was real. My parents similar they want to Harley 281 00:12:31,840 --> 00:12:33,880 Speaker 1: Davidson from a raffle when I was in high school. 282 00:12:34,160 --> 00:12:38,720 Speaker 1: They ended up selling it right after. Why they should 283 00:12:38,720 --> 00:12:40,520 Speaker 1: have kept it fur their teenage son. My momus would 284 00:12:40,520 --> 00:12:42,000 Speaker 1: have been a great idea, a big game about how 285 00:12:42,040 --> 00:12:43,840 Speaker 1: she was gonna be become a hardy rider, but she 286 00:12:43,880 --> 00:12:46,040 Speaker 1: never did. But it was one of those things where 287 00:12:46,080 --> 00:12:47,840 Speaker 1: I guess that's not the same thing as a free lunch, right, 288 00:12:47,840 --> 00:12:50,319 Speaker 1: because they did buy a raffle ticket and somebody's gotta win. 289 00:12:50,640 --> 00:12:52,720 Speaker 1: But but it feels like that, right. There's there's not 290 00:12:52,760 --> 00:12:55,320 Speaker 1: many circumstances like that where you get an email about 291 00:12:55,400 --> 00:12:58,280 Speaker 1: a free Hawaii trip and it's actually real exactly, Yeah, 292 00:12:58,320 --> 00:13:00,840 Speaker 1: that's not the norm, right, and it's someone is offering 293 00:13:00,840 --> 00:13:03,080 Speaker 1: you something for free. There's like a chance that there's 294 00:13:03,120 --> 00:13:06,319 Speaker 1: another shoe that's gonna drop, uh insaid, This saying is 295 00:13:06,320 --> 00:13:09,760 Speaker 1: pretty high on the truthiness scale. There oftentimes is no 296 00:13:09,880 --> 00:13:11,720 Speaker 1: such thing as a free lunch, true, yea. One of 297 00:13:11,720 --> 00:13:14,600 Speaker 1: the more ubiquitous examples that we see of this today 298 00:13:14,800 --> 00:13:18,000 Speaker 1: is signing up for the social media services. They're free, right, 299 00:13:18,200 --> 00:13:21,680 Speaker 1: They'll cost a dime, just sign up. It's so nice, Well, 300 00:13:21,800 --> 00:13:24,600 Speaker 1: I think, kind of are. You don't pay us dollars 301 00:13:24,640 --> 00:13:26,920 Speaker 1: to Twitter, Facebook or Instagram to have an account, But 302 00:13:26,960 --> 00:13:29,400 Speaker 1: it turns out that you are the product in this case, 303 00:13:29,440 --> 00:13:32,439 Speaker 1: and it's your data that's being mined and sold. Right. 304 00:13:32,720 --> 00:13:35,080 Speaker 1: So that's certainly example of when there's no free lunch. 305 00:13:35,160 --> 00:13:39,160 Speaker 1: It's free what you're paying in a different form of currency. 306 00:13:39,720 --> 00:13:42,080 Speaker 1: There's always a catch, exactly. I think to where the 307 00:13:42,080 --> 00:13:45,400 Speaker 1: concept no free lunch is most important is when we're 308 00:13:45,400 --> 00:13:48,120 Speaker 1: talking about insurance and retirement sales folks, people that are 309 00:13:48,280 --> 00:13:50,600 Speaker 1: trying to get into your pockets and they're offering something 310 00:13:50,679 --> 00:13:53,480 Speaker 1: quote unquote for free in order to get you to 311 00:13:53,679 --> 00:13:56,400 Speaker 1: take them up on their offer. Timeshare sales folks, Matt 312 00:13:56,440 --> 00:13:58,520 Speaker 1: would be a similar thing. It's like, get this free 313 00:13:58,679 --> 00:14:02,280 Speaker 1: gift card or get this free meal, and we'll tell 314 00:14:02,320 --> 00:14:05,079 Speaker 1: you about our awesome time shares and potentially brate you 315 00:14:05,120 --> 00:14:08,880 Speaker 1: into buying one. Right, And there's uh, if you have 316 00:14:09,280 --> 00:14:11,360 Speaker 1: a will of steel, maybe it's worth it to go. 317 00:14:11,480 --> 00:14:13,640 Speaker 1: Like if you know that, Like Nope, I'm a robot. 318 00:14:13,760 --> 00:14:15,640 Speaker 1: Like whatever they say to me. I'm just gonna sit 319 00:14:15,679 --> 00:14:18,720 Speaker 1: there and enjoy that lunch. Yeah, Like I don't know, 320 00:14:18,800 --> 00:14:20,560 Speaker 1: like it might be worth it for you at that point. 321 00:14:20,840 --> 00:14:22,600 Speaker 1: It just depends on the person. So there was this 322 00:14:22,640 --> 00:14:24,680 Speaker 1: great article in the New York Times. I still remember 323 00:14:24,720 --> 00:14:27,000 Speaker 1: it from three years ago from reading it from our 324 00:14:27,040 --> 00:14:29,400 Speaker 1: friend and former guests Ron Lieber, who one of my 325 00:14:29,400 --> 00:14:31,880 Speaker 1: favorite interviews still on this show. So he wrote about 326 00:14:31,880 --> 00:14:33,960 Speaker 1: it three years He went to attend a free state 327 00:14:34,000 --> 00:14:37,240 Speaker 1: dinner with his aunt that an annuity salesperson was hosting. 328 00:14:37,560 --> 00:14:39,720 Speaker 1: And it's one of those things where like millions of Americans, 329 00:14:39,840 --> 00:14:42,520 Speaker 1: especially older folks, are being offered things like this, like 330 00:14:42,520 --> 00:14:44,800 Speaker 1: a free dinner in exchange for the sales pitch for 331 00:14:44,840 --> 00:14:47,320 Speaker 1: a product that is going to cost you a lot 332 00:14:47,360 --> 00:14:49,560 Speaker 1: of money in the coming years. They're obviously trying to 333 00:14:49,680 --> 00:14:51,720 Speaker 1: hide those costs, paper over them, and they're making you 334 00:14:51,760 --> 00:14:54,000 Speaker 1: feel good by like being your friend and shaking your 335 00:14:54,000 --> 00:14:55,960 Speaker 1: hand and giving you a free meal. Um. And a 336 00:14:56,000 --> 00:14:58,560 Speaker 1: lot of people end up signing for something that's not 337 00:14:58,640 --> 00:15:01,640 Speaker 1: in their financial best interest because something free was offered. 338 00:15:01,680 --> 00:15:03,880 Speaker 1: So I think, like, in that case, that could be 339 00:15:03,920 --> 00:15:06,280 Speaker 1: the most expensive free lunch or dinner of your life. 340 00:15:06,720 --> 00:15:09,040 Speaker 1: So I think, yeah, there's no such thing as a 341 00:15:09,040 --> 00:15:11,840 Speaker 1: free lunch is a pretty accurate statement, that's right, man. 342 00:15:11,920 --> 00:15:14,600 Speaker 1: We have several more to get to, including, uh, put 343 00:15:14,600 --> 00:15:16,200 Speaker 1: your money where your mouth is. I feel like this 344 00:15:16,320 --> 00:15:18,920 Speaker 1: one maybe hergible as you've got an arguments with friends. 345 00:15:19,040 --> 00:15:22,040 Speaker 1: That's when I say to you all the time, Yeah, 346 00:15:22,120 --> 00:15:24,000 Speaker 1: I'll talk, no action. We're gonna get to that one, 347 00:15:24,000 --> 00:15:26,800 Speaker 1: plus a few others like don't put all your eggs 348 00:15:26,840 --> 00:15:29,000 Speaker 1: in one basket. We're gonna get to those two. It's 349 00:15:29,000 --> 00:15:40,760 Speaker 1: several more. Right after this break a well back, Matt, 350 00:15:40,840 --> 00:15:43,880 Speaker 1: let's cover some more common money phrases. And kind of 351 00:15:43,920 --> 00:15:46,720 Speaker 1: dissect the truthiness or lack thereof. I don't think truthiness 352 00:15:46,760 --> 00:15:48,040 Speaker 1: is a word, but I wish it was, because I'm 353 00:15:48,080 --> 00:15:49,960 Speaker 1: gonna use it anyway. We've talked about that before on 354 00:15:50,080 --> 00:15:52,080 Speaker 1: the Colbert Report. It's something that he used. That's right, 355 00:15:52,120 --> 00:15:55,680 Speaker 1: that's used to label certain words that politicians would say, like, 356 00:15:55,800 --> 00:15:59,120 Speaker 1: let's let's kind of write this on the truthiness. Okay, 357 00:15:59,120 --> 00:16:00,440 Speaker 1: so before we get to our new one, I kind 358 00:16:00,440 --> 00:16:02,000 Speaker 1: of want to go back a little bit too. There's 359 00:16:02,000 --> 00:16:03,960 Speaker 1: no such thing as a free lunch. How do you 360 00:16:04,040 --> 00:16:07,800 Speaker 1: feel if you were to attend a state dinner knowing 361 00:16:07,920 --> 00:16:09,920 Speaker 1: that you weren't going to sign up for some time 362 00:16:09,960 --> 00:16:12,320 Speaker 1: share or you know, annuity something like that, I'd be 363 00:16:12,320 --> 00:16:13,600 Speaker 1: okay with it? Would you be okay that? Do you 364 00:16:13,640 --> 00:16:16,240 Speaker 1: feel like you would feel morally okay knowing that, well, 365 00:16:16,720 --> 00:16:19,480 Speaker 1: they're doing this because it obviously works on some people. 366 00:16:19,520 --> 00:16:21,800 Speaker 1: Otherwise they wouldn't do it. But I'm kind of with you, right, 367 00:16:21,800 --> 00:16:24,200 Speaker 1: I think I could justify it because I know that, like, 368 00:16:24,480 --> 00:16:26,880 Speaker 1: this model is kind of on the decline, and it's 369 00:16:26,920 --> 00:16:29,480 Speaker 1: just like, okay, well it used to work, it's not 370 00:16:29,520 --> 00:16:31,360 Speaker 1: going to continue to work. I don't think I don't 371 00:16:31,360 --> 00:16:32,680 Speaker 1: know if it's not gonna work on me, and so 372 00:16:32,720 --> 00:16:35,040 Speaker 1: I would feel okay with the perks that would come 373 00:16:35,040 --> 00:16:36,760 Speaker 1: with that presentation. Yeah, I just don't know if I 374 00:16:36,800 --> 00:16:39,240 Speaker 1: could justify my time for a movie like like, Okay, 375 00:16:39,360 --> 00:16:40,640 Speaker 1: you gotta come here for like an hour and a 376 00:16:40,640 --> 00:16:42,720 Speaker 1: half and listen to this pitch and just be generally 377 00:16:42,760 --> 00:16:44,600 Speaker 1: annoyed and uncomfortable the whole time. What if you get 378 00:16:44,640 --> 00:16:45,880 Speaker 1: sit in the back and just like talk with your 379 00:16:45,880 --> 00:16:48,640 Speaker 1: aunt the whole time, just kind of catch up quietly, 380 00:16:48,680 --> 00:16:50,920 Speaker 1: potentially sitting there with a wedge salad and some ribby. 381 00:16:51,280 --> 00:16:52,800 Speaker 1: If it comes along, I might take it. We'll see. 382 00:16:53,000 --> 00:16:54,880 Speaker 1: I'd be okay with that. All right. Let's get to 383 00:16:54,920 --> 00:16:57,000 Speaker 1: the next money phrase we want to dissect, though. This 384 00:16:57,040 --> 00:17:00,440 Speaker 1: one is more money, more problems. This was, Yeah, another 385 00:17:00,440 --> 00:17:02,240 Speaker 1: phrase I think is we're talking about. I remember the 386 00:17:02,280 --> 00:17:04,440 Speaker 1: first time I heard that coming out of someone's mouth, Matt. 387 00:17:04,880 --> 00:17:07,720 Speaker 1: That wasn't the Notorious Big. I didn't know which version 388 00:17:07,720 --> 00:17:09,760 Speaker 1: you're gonna go with, if you're going with more money 389 00:17:09,960 --> 00:17:13,159 Speaker 1: more problems, or if you're going with more money more problems. Yeah. No, 390 00:17:13,320 --> 00:17:16,879 Speaker 1: I never really listened to Notorious Big, although I had friends, 391 00:17:16,880 --> 00:17:19,119 Speaker 1: friends that did. But yeah, I remember the first time 392 00:17:19,160 --> 00:17:21,080 Speaker 1: I heard someone say that, like it was legit truth, 393 00:17:21,280 --> 00:17:22,879 Speaker 1: and I thought that was like the stupidest thing at 394 00:17:22,880 --> 00:17:26,159 Speaker 1: everard And I think maybe that was because, like my 395 00:17:26,240 --> 00:17:29,560 Speaker 1: family's problems growing up, they were mostly financial in nature, 396 00:17:29,800 --> 00:17:31,920 Speaker 1: and that led me to believe that just having more 397 00:17:31,960 --> 00:17:34,840 Speaker 1: money is going to fix all of our family's problems. Right, 398 00:17:34,920 --> 00:17:36,680 Speaker 1: You're like, we can't win to Harley David's in every 399 00:17:36,720 --> 00:17:41,520 Speaker 1: single week exactly. And that came along later and in Okay, 400 00:17:41,720 --> 00:17:43,840 Speaker 1: that was when I was in late high school. But yeah, 401 00:17:43,920 --> 00:17:45,760 Speaker 1: I feel like I've changed my tune on this one too, 402 00:17:46,119 --> 00:17:48,280 Speaker 1: And I do think that there's a whole lot of 403 00:17:48,280 --> 00:17:51,480 Speaker 1: truth to this that more money does equate to more problems. 404 00:17:51,680 --> 00:17:53,639 Speaker 1: We tend to think that like more money is going 405 00:17:53,720 --> 00:17:55,560 Speaker 1: to solve a lot of the issues that we bump 406 00:17:55,640 --> 00:17:58,480 Speaker 1: up against in life, that I just had more money 407 00:17:58,760 --> 00:18:00,880 Speaker 1: in my checking account, or if I just started saving 408 00:18:01,040 --> 00:18:03,760 Speaker 1: or and investing when I was younger, I wouldn't be 409 00:18:03,800 --> 00:18:06,560 Speaker 1: facing many of the problems that I'm facing today. But 410 00:18:06,920 --> 00:18:09,160 Speaker 1: when you're a hammer, every problem looks like a nail, 411 00:18:09,280 --> 00:18:12,600 Speaker 1: and so it's important to realize that more money isn't 412 00:18:12,640 --> 00:18:14,920 Speaker 1: always the answer right there. There have been way too 413 00:18:14,920 --> 00:18:18,160 Speaker 1: many stories about incredibly rich folks losing all their wealth 414 00:18:18,720 --> 00:18:22,600 Speaker 1: or living hedonistic, self indulgent lives for me to believe 415 00:18:22,760 --> 00:18:26,160 Speaker 1: that too much money doesn't actually create more problems for 416 00:18:26,240 --> 00:18:29,080 Speaker 1: people in a lot of instances. I think sometimes, yeah, 417 00:18:29,160 --> 00:18:32,160 Speaker 1: too much accumulation of wealth actually leads to a lot 418 00:18:32,200 --> 00:18:34,840 Speaker 1: of problems in life. They're different kind of problems than 419 00:18:34,880 --> 00:18:37,240 Speaker 1: people who don't have enough money, that's for sure. Um, 420 00:18:37,280 --> 00:18:40,200 Speaker 1: and that is a legitimate problem too. Sometimes money does 421 00:18:40,320 --> 00:18:43,440 Speaker 1: fix problems, but mo money more problems. Yeah, I actually 422 00:18:43,480 --> 00:18:45,119 Speaker 1: think there's a lot of truth to that. Yeah, that's true. Man. 423 00:18:45,119 --> 00:18:46,639 Speaker 1: It makes me think of lottery winners right when you 424 00:18:46,640 --> 00:18:49,679 Speaker 1: were talking about, you know, a hedonistic lifestyle, because many 425 00:18:49,720 --> 00:18:51,800 Speaker 1: of those folks end up spending all their money and 426 00:18:51,840 --> 00:18:54,680 Speaker 1: then declaring bankruptcy, you know, maybe a few years after 427 00:18:54,840 --> 00:18:57,280 Speaker 1: winning millions of dollars. And at the same time, while 428 00:18:57,320 --> 00:19:00,920 Speaker 1: that's happening, like relatives, friends, co workers, Uh, they start 429 00:19:01,000 --> 00:19:02,960 Speaker 1: to come to those folks out of the woodwork asking 430 00:19:03,000 --> 00:19:06,359 Speaker 1: for money from the newly minted rich. And that just 431 00:19:06,359 --> 00:19:08,399 Speaker 1: sounds like a surefire way to have your life and 432 00:19:08,440 --> 00:19:12,040 Speaker 1: relationships ruined. Definitely, you're introducing more problems in your life. 433 00:19:12,080 --> 00:19:14,240 Speaker 1: At that point, it's hard to know who to trust 434 00:19:14,280 --> 00:19:16,400 Speaker 1: if you're rolling in the dough. And that's when yeah, 435 00:19:16,440 --> 00:19:18,880 Speaker 1: mo money, more problems would definitely ring true. But yeah, 436 00:19:18,920 --> 00:19:21,320 Speaker 1: on the flip side of the coin, more money would 437 00:19:21,359 --> 00:19:24,040 Speaker 1: be a legitimate fix for for billions of people around 438 00:19:24,040 --> 00:19:25,760 Speaker 1: the world. You know, here in the US there are 439 00:19:25,800 --> 00:19:29,400 Speaker 1: nearly forty four million people who are under the poverty line. Um. 440 00:19:29,440 --> 00:19:31,680 Speaker 1: And the other thing too. It's not that poverty isn't 441 00:19:31,680 --> 00:19:33,840 Speaker 1: a legitimate concern here in the US, but some of 442 00:19:33,880 --> 00:19:36,720 Speaker 1: the money issues that many people face are because of 443 00:19:36,720 --> 00:19:40,440 Speaker 1: a lack of financial education combined with shooting themselves in 444 00:19:40,480 --> 00:19:42,680 Speaker 1: the foot by making poor money decisions. And so that's 445 00:19:42,680 --> 00:19:45,320 Speaker 1: another reason why we fight for financial literacy so much. 446 00:19:45,600 --> 00:19:47,440 Speaker 1: It's at least a part of the solution. Uh. And 447 00:19:47,480 --> 00:19:50,119 Speaker 1: that's why we talk about money every single day most definitely. 448 00:19:50,160 --> 00:19:52,840 Speaker 1: All right, let's move on to the next phrase. Let's 449 00:19:52,880 --> 00:19:54,600 Speaker 1: say you were faced with the problem of having some 450 00:19:54,680 --> 00:19:57,360 Speaker 1: more money on hand, Matt. You might hear someone say, 451 00:19:57,640 --> 00:20:00,480 Speaker 1: don't put all your eggs in one basket, and yeah, 452 00:20:00,520 --> 00:20:03,760 Speaker 1: that would be I would say, good advice from whoever's 453 00:20:03,800 --> 00:20:05,520 Speaker 1: offering it. To you. But at the same time, I've 454 00:20:05,520 --> 00:20:08,520 Speaker 1: heard other, uh semi smart money people out there say 455 00:20:08,560 --> 00:20:12,359 Speaker 1: that diversification is for idiots. Mark Huban is one of 456 00:20:12,359 --> 00:20:14,120 Speaker 1: the folks I've heard say that before, but I feel 457 00:20:14,119 --> 00:20:16,600 Speaker 1: like coming from him, it's different. Right, He's got the time, 458 00:20:16,640 --> 00:20:19,600 Speaker 1: the knowledge, and the desire also the ability to go 459 00:20:19,720 --> 00:20:22,359 Speaker 1: all in on just a few handful of investments to 460 00:20:22,400 --> 00:20:26,400 Speaker 1: see what succeeds. And interestingly enough, Matt not that long ago, 461 00:20:26,440 --> 00:20:28,760 Speaker 1: Mark Cuban revealed that he lost all of the money 462 00:20:28,760 --> 00:20:31,639 Speaker 1: that he put into a fledgling cryptocurrency that went to zero. 463 00:20:31,920 --> 00:20:34,480 Speaker 1: So I feel like, yeah, that's good advice from someone 464 00:20:34,520 --> 00:20:37,679 Speaker 1: who has made hundreds of millions of dollars, maybe more. 465 00:20:37,720 --> 00:20:39,520 Speaker 1: I don't know if he's a billionaire, I forget, but 466 00:20:39,920 --> 00:20:41,879 Speaker 1: that was obviously not all of his money that he 467 00:20:41,920 --> 00:20:44,200 Speaker 1: lost in the crypto, So he is diversified to an extent. 468 00:20:44,520 --> 00:20:46,639 Speaker 1: But most of us can't afford to have a major 469 00:20:46,680 --> 00:20:49,080 Speaker 1: investment of ours go bust like that, and so a 470 00:20:49,119 --> 00:20:51,880 Speaker 1: smart diversification strategy is the only way that we're gonna 471 00:20:51,880 --> 00:20:53,679 Speaker 1: be able to build wealth while still being able to 472 00:20:53,720 --> 00:20:56,160 Speaker 1: sleep at night. So I do think, yeah, don't put 473 00:20:56,160 --> 00:20:58,480 Speaker 1: all your eggs in one basket is sound advice for 474 00:20:59,800 --> 00:21:01,680 Speaker 1: yer out of us. Yeah, even someone like Mark Cuban, 475 00:21:01,720 --> 00:21:03,680 Speaker 1: who is super bullish on a certain company or a 476 00:21:03,720 --> 00:21:07,760 Speaker 1: new startup or even uh yeah cryptocurrency, isn't going all 477 00:21:07,800 --> 00:21:10,720 Speaker 1: in on you know, one single investment. Like, he's not 478 00:21:10,720 --> 00:21:12,320 Speaker 1: putting all of his eggs in a single investment. I 479 00:21:12,359 --> 00:21:15,200 Speaker 1: bet he also maybe owns his home, Uh, has a 480 00:21:15,240 --> 00:21:17,879 Speaker 1: retirement fund and how many companies has he invested in 481 00:21:17,880 --> 00:21:19,920 Speaker 1: on Chark Tank? Yeah, Like, come on, Mark, Like that's 482 00:21:19,960 --> 00:21:24,280 Speaker 1: just disingenuous to say that diversification isn't a smart strategy exactly. Yeah, 483 00:21:24,320 --> 00:21:26,800 Speaker 1: And obviously, if we knew the future right then, you know, 484 00:21:26,840 --> 00:21:30,320 Speaker 1: diversification wouldn't be necessary. We could put all of our 485 00:21:30,320 --> 00:21:32,120 Speaker 1: money towards the eventual winner and just kind of sit 486 00:21:32,160 --> 00:21:34,359 Speaker 1: back watch the profits roll in. But we don't know 487 00:21:34,440 --> 00:21:37,119 Speaker 1: the future obviously, and so making sure that all of 488 00:21:37,160 --> 00:21:40,280 Speaker 1: your eggs aren't in one basket invested in one stock 489 00:21:40,359 --> 00:21:42,240 Speaker 1: or even just a handful of stocks is going to 490 00:21:42,320 --> 00:21:44,560 Speaker 1: be a wise thing to do. We're fans of owning 491 00:21:44,600 --> 00:21:46,680 Speaker 1: the whole stock market, or at least the SMP five 492 00:21:46,760 --> 00:21:49,240 Speaker 1: hundred that way, instead of one basket you've got like 493 00:21:49,400 --> 00:21:53,040 Speaker 1: over thirty seven hundred little baskets or five hundred little baskets, 494 00:21:53,520 --> 00:21:57,320 Speaker 1: because that's how many companies those funds include. And you know, Joe, 495 00:21:57,440 --> 00:21:59,120 Speaker 1: like you and I, we have exposure to real estate 496 00:21:59,160 --> 00:22:02,000 Speaker 1: as well. We were their own business. Being that diversified 497 00:22:02,040 --> 00:22:04,280 Speaker 1: provides a lot of peace of mind. And so this 498 00:22:04,320 --> 00:22:06,439 Speaker 1: one is really high on the truthiness scale. This is 499 00:22:06,440 --> 00:22:08,440 Speaker 1: definitely a tint ot of tins, but I would give 500 00:22:08,800 --> 00:22:10,800 Speaker 1: don't put all of your eggs in one basket. Yeah, man, 501 00:22:10,800 --> 00:22:13,040 Speaker 1: it makes me. This makes me think of some of 502 00:22:13,080 --> 00:22:15,080 Speaker 1: our listeners who might have the ability to invest in 503 00:22:15,119 --> 00:22:19,160 Speaker 1: their employer's stock at a discount. And sometimes that can 504 00:22:19,200 --> 00:22:22,240 Speaker 1: work well if you're turning around and selling it really quickly. 505 00:22:22,560 --> 00:22:24,840 Speaker 1: That's what we talked about those planes before, and how 506 00:22:24,880 --> 00:22:26,880 Speaker 1: that's the only way to make it work, because otherwise 507 00:22:26,880 --> 00:22:29,320 Speaker 1: you're taking undue risk. And I know some people that 508 00:22:29,400 --> 00:22:31,720 Speaker 1: they get their paycheck from the company and then much 509 00:22:31,720 --> 00:22:34,560 Speaker 1: of their investments are going into company stock and at 510 00:22:34,600 --> 00:22:36,399 Speaker 1: that point you're just not diversified enough. You do have 511 00:22:36,440 --> 00:22:38,840 Speaker 1: all your eggs in one basket. What if you lost 512 00:22:38,880 --> 00:22:41,080 Speaker 1: your job and at the same time, like that's because 513 00:22:41,200 --> 00:22:43,960 Speaker 1: the company is losing money. Uh, the stock price is 514 00:22:44,000 --> 00:22:46,480 Speaker 1: tanking and most of your eggs get broken in one 515 00:22:46,480 --> 00:22:50,480 Speaker 1: fell swoop. Yeah, not a good idea. Yeah, so yeah, 516 00:22:50,520 --> 00:22:52,560 Speaker 1: don't don't put all your eggs in one basket. Find 517 00:22:52,600 --> 00:22:55,240 Speaker 1: ways to be diversified. And if you're just investing in 518 00:22:55,280 --> 00:22:57,320 Speaker 1: the stock market, you know that's fine, do one of 519 00:22:57,359 --> 00:22:59,800 Speaker 1: the funds that Matt mentioned. But finding other ways to 520 00:22:59,800 --> 00:23:03,080 Speaker 1: make income, Finding other ways to invest besides even just 521 00:23:03,160 --> 00:23:05,320 Speaker 1: the stock market, like getting into real estate at some point, 522 00:23:05,720 --> 00:23:08,640 Speaker 1: is a good way to become even more diversified. All right, Matt, 523 00:23:08,680 --> 00:23:10,920 Speaker 1: let's get to another one. A fool and his money 524 00:23:10,920 --> 00:23:12,800 Speaker 1: are soon parted. That's the next phrase we're gonna we're 525 00:23:12,800 --> 00:23:15,399 Speaker 1: gonna get into. And yeah, since since we opted to 526 00:23:15,440 --> 00:23:18,159 Speaker 1: include a biblical money phrase the last time, we figured 527 00:23:18,200 --> 00:23:20,560 Speaker 1: why not use another one this time. Some translations of 528 00:23:20,600 --> 00:23:23,600 Speaker 1: the Book of Proverbs have something similar to this basically, uh, 529 00:23:23,640 --> 00:23:26,080 Speaker 1: this phrase a fool, fool and his money are soon parted, 530 00:23:26,080 --> 00:23:28,520 Speaker 1: but it's also been used in other literary works. To 531 00:23:29,520 --> 00:23:31,800 Speaker 1: an English poet from the Freds I think is also 532 00:23:32,200 --> 00:23:35,360 Speaker 1: uh credited with this phrase, and he probably just read 533 00:23:35,359 --> 00:23:39,320 Speaker 1: the Bible and some yeah, and yeah, there's really not 534 00:23:39,440 --> 00:23:42,520 Speaker 1: much disputing this one either though, right, Like, yeah, dummies, 535 00:23:42,560 --> 00:23:45,520 Speaker 1: people that don't handle their money, well, foolish people, it's 536 00:23:45,560 --> 00:23:48,399 Speaker 1: not gonna be long until they find themselves parted with 537 00:23:48,440 --> 00:23:50,960 Speaker 1: their money or having far less of it because they're 538 00:23:50,960 --> 00:23:55,120 Speaker 1: making unwise decisions. They're rushing into things, they're not thinking ahead. 539 00:23:55,359 --> 00:23:58,000 Speaker 1: Foolish people don't long have money in their hands. Usually, 540 00:23:58,160 --> 00:24:00,119 Speaker 1: that's true. Yeah, And so one foolish thing would be 541 00:24:00,359 --> 00:24:02,720 Speaker 1: not to be diversified, right, just like we said. But 542 00:24:02,720 --> 00:24:05,280 Speaker 1: there are just so many different ways, uh. In one 543 00:24:05,280 --> 00:24:07,040 Speaker 1: that you can be foolish with your money. Uh, it 544 00:24:07,080 --> 00:24:09,919 Speaker 1: could be someone who's just thoughtless and wasteful, Like they 545 00:24:09,960 --> 00:24:13,320 Speaker 1: could be someone who prioritizes the concerns of right now constantly, 546 00:24:13,560 --> 00:24:15,840 Speaker 1: you know, where they're just never thinking about the importance 547 00:24:16,160 --> 00:24:19,000 Speaker 1: of the future right, either planning or preparing for the future. 548 00:24:19,359 --> 00:24:21,440 Speaker 1: And so you know, you can ask yourself some questions 549 00:24:21,480 --> 00:24:24,000 Speaker 1: like are you easily convinced by others to change how 550 00:24:24,040 --> 00:24:26,639 Speaker 1: you save, how you spend, or how you invest your money? 551 00:24:26,880 --> 00:24:28,520 Speaker 1: You see to yourself, well, I guess I'll put this 552 00:24:28,520 --> 00:24:31,320 Speaker 1: money that I can't risk in a new joke cryptocurrency, 553 00:24:31,400 --> 00:24:33,879 Speaker 1: and I'll just see what happens, Or maybe I should 554 00:24:33,880 --> 00:24:36,600 Speaker 1: just buy an instant bot because everybody else has one. 555 00:24:36,720 --> 00:24:39,320 Speaker 1: You're not being thoughtful about your purchases. You're not really 556 00:24:39,359 --> 00:24:41,280 Speaker 1: considering whether or not you would use that thing every 557 00:24:41,280 --> 00:24:43,720 Speaker 1: single day like my wife does. Maybe you never cook, 558 00:24:43,800 --> 00:24:45,800 Speaker 1: but you think this is gonna make you cook. Think again, 559 00:24:46,400 --> 00:24:48,080 Speaker 1: Or maybe you're thinking, like, why not just have my 560 00:24:48,119 --> 00:24:50,639 Speaker 1: savings that wells Fargo. They're pretty convenient, Like there's just 561 00:24:50,640 --> 00:24:52,560 Speaker 1: a branch right up the street. I'm sure they're paying 562 00:24:52,560 --> 00:24:55,359 Speaker 1: something decent, right, How dare you bring up that name 563 00:24:55,400 --> 00:24:58,320 Speaker 1: on our podcast? Um? Or maybe I just heard somebody 564 00:24:58,359 --> 00:25:00,760 Speaker 1: on TikTok talking about the this is something I should 565 00:25:00,760 --> 00:25:02,600 Speaker 1: invest in. That's probably a good way to go to 566 00:25:02,720 --> 00:25:05,440 Speaker 1: not be the fool. We have to be discerning when 567 00:25:05,440 --> 00:25:07,280 Speaker 1: it comes through the decisions we make and what we 568 00:25:07,320 --> 00:25:09,679 Speaker 1: do with our money. And that simply just means educating 569 00:25:09,680 --> 00:25:14,280 Speaker 1: ourselves and and also it means being I think optimistically skeptical. Right, 570 00:25:14,280 --> 00:25:16,240 Speaker 1: you gotta kind of hold those two things in balance. 571 00:25:16,359 --> 00:25:18,480 Speaker 1: You're hoping for the best, but at the same time, 572 00:25:18,600 --> 00:25:19,960 Speaker 1: you know, we're going to make sure that we're doing 573 00:25:19,960 --> 00:25:22,439 Speaker 1: our due diligence in order to make sure that we 574 00:25:22,520 --> 00:25:25,920 Speaker 1: are making more confident money decisions. YEA. To not be 575 00:25:26,000 --> 00:25:30,000 Speaker 1: foolish with money takes intentionality. It takes dedicating some time 576 00:25:30,040 --> 00:25:32,240 Speaker 1: to learning the nuts and bolts of personal finance and 577 00:25:32,240 --> 00:25:34,760 Speaker 1: then learning some of your own behavioral tendencies. It takes 578 00:25:34,760 --> 00:25:36,679 Speaker 1: a little bit of insight into who you are as 579 00:25:36,720 --> 00:25:39,640 Speaker 1: a person and finding some trustworthy folks that you can 580 00:25:39,720 --> 00:25:43,000 Speaker 1: rely on. Some books, some podcasts, some some blogs that 581 00:25:43,040 --> 00:25:45,240 Speaker 1: you like to read from people who are gonna steer 582 00:25:45,240 --> 00:25:47,879 Speaker 1: you straight consistently and who don't have an agenda to 583 00:25:47,920 --> 00:25:51,240 Speaker 1: push on you. But it's worth it because that way 584 00:25:51,280 --> 00:25:52,960 Speaker 1: you're not going to be foolish. You're going to be 585 00:25:53,000 --> 00:25:55,880 Speaker 1: able to build wealth for the long term, provide real 586 00:25:55,960 --> 00:25:58,280 Speaker 1: security for you and your family, and not be worried 587 00:25:58,720 --> 00:26:01,440 Speaker 1: that overnight, you know, your your financial house of cards 588 00:26:01,480 --> 00:26:03,439 Speaker 1: could come tumbling down, which I would think people who 589 00:26:03,440 --> 00:26:06,160 Speaker 1: are foolish with their money would constantly be worried about, 590 00:26:06,200 --> 00:26:08,320 Speaker 1: would constantly be in fear of. But Matt, we've got 591 00:26:08,359 --> 00:26:11,480 Speaker 1: a few more money phrases to get to, including champagne 592 00:26:11,480 --> 00:26:13,639 Speaker 1: taste on a beer budget. Uh, we like beer, So 593 00:26:13,680 --> 00:26:25,399 Speaker 1: we'll talk about that one right after this break. Al Right, 594 00:26:25,440 --> 00:26:27,640 Speaker 1: we are back, We've got a feed more money phrases 595 00:26:27,680 --> 00:26:30,320 Speaker 1: to get to angel like you alluded to. Have you 596 00:26:30,320 --> 00:26:32,800 Speaker 1: ever been told that you've got a champagne taste on 597 00:26:32,800 --> 00:26:36,159 Speaker 1: a beer budget? Um? No, actually I have been told that. 598 00:26:36,200 --> 00:26:39,040 Speaker 1: I remember back when we were getting married, we were 599 00:26:39,119 --> 00:26:41,960 Speaker 1: working with Kate's dad. He was helping us to make 600 00:26:42,000 --> 00:26:45,040 Speaker 1: sure that we're staying within budget, and I just specifically 601 00:26:45,119 --> 00:26:47,080 Speaker 1: remember it's the first time anyone had ever used that 602 00:26:47,080 --> 00:26:49,800 Speaker 1: phrase directed at me, and he was just like, guys, 603 00:26:50,119 --> 00:26:52,080 Speaker 1: y'all just have champagne taste on a beer budget. And 604 00:26:52,080 --> 00:26:54,560 Speaker 1: I remember thinking, what does that mean? Oh, okay, I 605 00:26:54,600 --> 00:26:59,480 Speaker 1: get it, being the image alone, young immature person that 606 00:26:59,520 --> 00:27:01,720 Speaker 1: I was. But you know, this one is pretty straightforward. 607 00:27:01,760 --> 00:27:04,399 Speaker 1: It's when someone is living above their means, or at 608 00:27:04,440 --> 00:27:06,560 Speaker 1: least when they want things that they can't afford. That 609 00:27:06,640 --> 00:27:08,439 Speaker 1: was definitely where Kate and I were back when we 610 00:27:08,440 --> 00:27:10,760 Speaker 1: were getting married. Uh. And this can definitely be a problem, 611 00:27:10,760 --> 00:27:12,560 Speaker 1: you know. It's like having eyes that are too big 612 00:27:12,600 --> 00:27:15,320 Speaker 1: for your stomach. That will likely lead to eating more 613 00:27:15,320 --> 00:27:17,439 Speaker 1: than you should. It could lead to you having a 614 00:27:17,440 --> 00:27:21,080 Speaker 1: tummy ache, getting sick, which we're going to Austin in September. 615 00:27:21,400 --> 00:27:24,000 Speaker 1: And I'm kind of preparing my belly now to consume 616 00:27:24,040 --> 00:27:27,840 Speaker 1: massive amounts of brisket so barbecue, like giving yourself pep talk. 617 00:27:28,520 --> 00:27:31,199 Speaker 1: I'm like trying to literally span the size of my 618 00:27:31,240 --> 00:27:33,480 Speaker 1: stomach so I can fit more in there, right, klobi Ashi, 619 00:27:33,520 --> 00:27:35,560 Speaker 1: you know eating hot dogs? Well, the name is true 620 00:27:35,880 --> 00:27:37,840 Speaker 1: if you can't stick to your budget, right, and if 621 00:27:37,840 --> 00:27:40,199 Speaker 1: you attempt to buy things that you can't afford, like 622 00:27:40,600 --> 00:27:44,119 Speaker 1: fancy champagne, when maybe all you can really afford or 623 00:27:44,160 --> 00:27:45,520 Speaker 1: all that you have in your wallet is just five 624 00:27:45,560 --> 00:27:49,240 Speaker 1: bucks for a sixer of the Champagne of Beers Miller Lite, 625 00:27:49,640 --> 00:27:51,840 Speaker 1: no Miller High Life. Yes I misspoke, but it's also 626 00:27:51,880 --> 00:27:54,320 Speaker 1: been a minute since I've had the Champagne of Beers. 627 00:27:55,080 --> 00:27:58,520 Speaker 1: But the Yeah, the accuracy of this statement champagne taste 628 00:27:58,520 --> 00:28:00,960 Speaker 1: on a beer budget, this depends on who it's being 629 00:28:01,080 --> 00:28:03,880 Speaker 1: applied to, because there's nothing really true or untrue about 630 00:28:03,920 --> 00:28:06,080 Speaker 1: the statement on its own, but rather it's just all 631 00:28:06,119 --> 00:28:10,199 Speaker 1: about who is being described. Uh. And so ideally this 632 00:28:10,240 --> 00:28:11,680 Speaker 1: is sort of a statement that we want to flip 633 00:28:11,680 --> 00:28:13,480 Speaker 1: on its head, right. We don't want to have champagne 634 00:28:13,560 --> 00:28:15,960 Speaker 1: taste on a beer budget. We want to have beer 635 00:28:16,000 --> 00:28:18,000 Speaker 1: taste on a champagne budget. That's what we strive for 636 00:28:18,160 --> 00:28:20,359 Speaker 1: here on how the money, that's exactly right, That's what 637 00:28:20,520 --> 00:28:23,800 Speaker 1: that's what we do. Because if you get that champagne budget, 638 00:28:23,920 --> 00:28:26,640 Speaker 1: that means you've got more money coming in, then you're 639 00:28:26,640 --> 00:28:29,000 Speaker 1: gonna be spending when you get the beer tastes, right, 640 00:28:29,040 --> 00:28:31,280 Speaker 1: and so you're gonna be funneling more and more or 641 00:28:31,280 --> 00:28:34,520 Speaker 1: that money into your investment accounts, into your savings account 642 00:28:34,640 --> 00:28:36,320 Speaker 1: instead of that checking account, so I can flow right 643 00:28:36,320 --> 00:28:38,680 Speaker 1: backcounts right, and you gotta keep that lifestyle and check 644 00:28:38,760 --> 00:28:42,200 Speaker 1: that's right. Yeah, But you can't always have champagne amounts 645 00:28:42,280 --> 00:28:44,320 Speaker 1: of income flowing, and sometimes you gotta make some cuts 646 00:28:44,320 --> 00:28:46,560 Speaker 1: when it comes to your expenses. That's right. Sometimes you've 647 00:28:46,560 --> 00:28:48,720 Speaker 1: got a beer taste and a beer budget and you 648 00:28:48,760 --> 00:28:50,360 Speaker 1: know you're perfectly in line and you're just like hoping 649 00:28:50,360 --> 00:28:52,480 Speaker 1: to expand your income one of these days, right. But 650 00:28:52,560 --> 00:28:54,960 Speaker 1: if you are constantly blowing out your budget and you've 651 00:28:54,960 --> 00:28:57,720 Speaker 1: determined that you are one of those people who tends 652 00:28:57,760 --> 00:29:00,760 Speaker 1: to have champagne taste, then you'll likely need to learn 653 00:29:00,800 --> 00:29:03,440 Speaker 1: the value of stretching a dollar, which is the next 654 00:29:03,480 --> 00:29:05,800 Speaker 1: phrase we're gonna cover when someone really knows how to 655 00:29:05,800 --> 00:29:08,240 Speaker 1: stretch a dollar, Matt, it means that they've got unique 656 00:29:08,240 --> 00:29:10,840 Speaker 1: abilities to find deals and spend less on everyday atoms 657 00:29:11,320 --> 00:29:13,200 Speaker 1: like a water heater. Maybe, for instance, there you go 658 00:29:13,920 --> 00:29:16,160 Speaker 1: stretching that in our bucks to cover all six and 659 00:29:16,240 --> 00:29:19,360 Speaker 1: fifty of it exactly exactly. And and and for example, Matt, 660 00:29:19,400 --> 00:29:21,480 Speaker 1: a lot of grandparents who grew up at the time 661 00:29:21,520 --> 00:29:24,040 Speaker 1: of the Great Depression, they learned the necessity of stretching 662 00:29:24,080 --> 00:29:27,040 Speaker 1: a dollar the hard way, right, They had the hard 663 00:29:27,120 --> 00:29:31,000 Speaker 1: knocks of not having enough food to help them be 664 00:29:31,080 --> 00:29:32,840 Speaker 1: able to stretch of the amount that they did have 665 00:29:32,920 --> 00:29:34,800 Speaker 1: coming in. And no matter how much money some of 666 00:29:34,800 --> 00:29:37,600 Speaker 1: those people acquired, many of them never stopped living a 667 00:29:37,680 --> 00:29:40,000 Speaker 1: hyper frugal existence. They just weren't able to forget that. 668 00:29:40,040 --> 00:29:42,760 Speaker 1: They couldn't get it out of their DNA, essentially after 669 00:29:42,920 --> 00:29:45,920 Speaker 1: having to go through that difficulty. But this is a 670 00:29:45,920 --> 00:29:47,600 Speaker 1: good thing to learn for all of us to a 671 00:29:47,600 --> 00:29:49,560 Speaker 1: certain extent, right to figure out how to get by 672 00:29:49,640 --> 00:29:52,560 Speaker 1: on less, or how to buy used or borrow instead 673 00:29:52,640 --> 00:29:55,960 Speaker 1: of just buying something new, as like a Pavlovian response. 674 00:29:56,200 --> 00:29:59,120 Speaker 1: And yeah, you'll be exercising your creative skills and saving 675 00:29:59,160 --> 00:30:01,479 Speaker 1: money at the At the same time, I think stretching 676 00:30:01,480 --> 00:30:03,680 Speaker 1: a dollar, learning the value of it, and then honing 677 00:30:03,720 --> 00:30:05,880 Speaker 1: your skills trying to get better at stretching a dollar 678 00:30:06,360 --> 00:30:09,920 Speaker 1: is incredibly worthwhile for everyone, no matter your income. I 679 00:30:09,920 --> 00:30:11,960 Speaker 1: feel like that's a skill that you've definitely developed, as 680 00:30:12,160 --> 00:30:16,160 Speaker 1: evidenced by your daily checking of slip deals. Like I said, 681 00:30:16,160 --> 00:30:17,720 Speaker 1: it used to be more of a problem for me 682 00:30:18,480 --> 00:30:19,840 Speaker 1: making fun of you. But like I think what you 683 00:30:19,840 --> 00:30:21,480 Speaker 1: said earlier, like I mean at the top of you. Like, 684 00:30:21,800 --> 00:30:23,680 Speaker 1: what I'm saying is I use the search bar like 685 00:30:23,760 --> 00:30:26,920 Speaker 1: being intentional. It's it's it's less perusing and being like, 686 00:30:27,000 --> 00:30:28,760 Speaker 1: oh what can I buy, And it's more like this 687 00:30:28,800 --> 00:30:31,360 Speaker 1: is where I go first when I have a need, right, 688 00:30:31,480 --> 00:30:34,280 Speaker 1: like a water heater needs to be replaced. I'm not 689 00:30:34,320 --> 00:30:36,160 Speaker 1: just shopping to see what's on, you know, what the 690 00:30:36,160 --> 00:30:38,200 Speaker 1: discounts are, because I feel like that's when you might 691 00:30:38,200 --> 00:30:40,320 Speaker 1: get tempted, right like when you start seeing the discount 692 00:30:40,760 --> 00:30:43,400 Speaker 1: like going from thirty to fifty to seven, Oh my gosh, 693 00:30:43,400 --> 00:30:45,160 Speaker 1: this is seventy pc off, Like I have to buy 694 00:30:45,200 --> 00:30:47,240 Speaker 1: this whether or not I need it. Yeah, no, I'm 695 00:30:47,240 --> 00:30:49,320 Speaker 1: gonna buy it anyway. That's what we're trying to avoid 696 00:30:49,360 --> 00:30:51,400 Speaker 1: being and I used to be guilty of that. Yeah yeah, 697 00:30:51,480 --> 00:30:53,360 Speaker 1: and and not that I don't occasionally fall into that now, 698 00:30:53,440 --> 00:30:55,800 Speaker 1: but I've gotten so much better at it. Yeah. Okay, 699 00:30:55,840 --> 00:30:57,640 Speaker 1: So let's get to our next phrase, which is put 700 00:30:57,680 --> 00:30:59,960 Speaker 1: your money or your mouth is and talk is cheap. 701 00:31:00,000 --> 00:31:03,080 Speaker 1: This would be another way of saying this phrase action. 702 00:31:03,600 --> 00:31:05,560 Speaker 1: It's such a crucial part of the process when it 703 00:31:05,560 --> 00:31:08,160 Speaker 1: comes to handling our money. Well, we can read books 704 00:31:08,240 --> 00:31:10,120 Speaker 1: and talk about what to do with our money all 705 00:31:10,200 --> 00:31:12,680 Speaker 1: day long, but yeah, when the rubber meets the road, 706 00:31:12,760 --> 00:31:15,600 Speaker 1: are you actually going to do the work of making 707 00:31:15,640 --> 00:31:17,840 Speaker 1: the changes in your life? And so we can see 708 00:31:17,840 --> 00:31:19,840 Speaker 1: this play out and how we spend our money. So, 709 00:31:19,920 --> 00:31:22,640 Speaker 1: for example, it might be that you say that you're 710 00:31:22,640 --> 00:31:25,240 Speaker 1: all about kids being entrepreneurial, but then when the when 711 00:31:25,240 --> 00:31:27,240 Speaker 1: your friends, you know, when the neighbor's kid knocks on 712 00:31:27,240 --> 00:31:29,440 Speaker 1: your door because he's selling his handmade ice cream for 713 00:31:29,560 --> 00:31:33,320 Speaker 1: seven dollars a pint, do you actually buy anything? And 714 00:31:33,400 --> 00:31:34,840 Speaker 1: I say this because this is a true story that 715 00:31:34,840 --> 00:31:37,480 Speaker 1: happened on Smart Entrepreneur, right this this happened yesterday. One 716 00:31:37,520 --> 00:31:39,720 Speaker 1: of our friends, his kid knocked on our door and 717 00:31:39,720 --> 00:31:41,760 Speaker 1: he's done this before, like in summer's past, where he'll 718 00:31:41,760 --> 00:31:43,560 Speaker 1: make his own ice cream. I just pretend not to 719 00:31:43,600 --> 00:31:47,440 Speaker 1: be there. Seven dollars of Fine, it's expensive, but that's 720 00:31:47,480 --> 00:31:49,760 Speaker 1: something we believe, and that's some behavior that I want 721 00:31:49,800 --> 00:31:52,000 Speaker 1: to encourage. But at the same time, I want to 722 00:31:52,040 --> 00:31:54,080 Speaker 1: make sure I'm being frugal with him, Like I don't 723 00:31:54,080 --> 00:31:55,480 Speaker 1: want to be cheap. If I were cheap, I'd be like, 724 00:31:55,520 --> 00:31:58,160 Speaker 1: no way, dude, that's way too expensive, are you kidding me? 725 00:31:58,200 --> 00:32:00,920 Speaker 1: And then three dollars a pint, okay, like slamming the door, 726 00:32:01,280 --> 00:32:03,440 Speaker 1: that would be cheap. But being frugal is instead of 727 00:32:03,480 --> 00:32:06,200 Speaker 1: buying all three flavors, we just bought one because it's like, okay, 728 00:32:06,200 --> 00:32:08,040 Speaker 1: we're just gonna buy one. Point. That's kind of prosy, 729 00:32:08,480 --> 00:32:10,560 Speaker 1: but we want to We still want to support him, right, 730 00:32:10,840 --> 00:32:12,360 Speaker 1: But these are the kind of questions we need to 731 00:32:12,360 --> 00:32:14,800 Speaker 1: ask ourselves, you know, like maybe you might be someone 732 00:32:14,800 --> 00:32:17,960 Speaker 1: who's all about local small businesses, but like in our case, 733 00:32:18,000 --> 00:32:19,880 Speaker 1: like do we support the local bike shop there's a 734 00:32:19,880 --> 00:32:22,040 Speaker 1: bike shop not too far from us, and making sure 735 00:32:22,080 --> 00:32:24,320 Speaker 1: that we're keeping that little bike shop in mind instead 736 00:32:24,360 --> 00:32:27,040 Speaker 1: of the default, right just going straight to ordering from 737 00:32:27,040 --> 00:32:29,920 Speaker 1: Walmart or Amazon. That needs to be a part of 738 00:32:29,960 --> 00:32:32,120 Speaker 1: how we process and how we think about the expenses 739 00:32:32,120 --> 00:32:35,440 Speaker 1: that we make. Shout out to loose Nuts great folks, right, 740 00:32:35,560 --> 00:32:38,640 Speaker 1: also the best name for a bike shop ever, except 741 00:32:38,640 --> 00:32:40,280 Speaker 1: for Yeah, I mean you don't want to get your 742 00:32:40,320 --> 00:32:42,320 Speaker 1: bike back I get you take it there when you've 743 00:32:42,320 --> 00:32:43,959 Speaker 1: got some loose nuts exactly. You don't want to get 744 00:32:43,960 --> 00:32:45,800 Speaker 1: it back with loose nuts now. And it also makes 745 00:32:45,800 --> 00:32:47,160 Speaker 1: it feel like they got a screw loose their little 746 00:32:47,240 --> 00:32:49,800 Speaker 1: zany and and they are, which I like, so all right, 747 00:32:49,840 --> 00:32:51,400 Speaker 1: but I think part of that to Matt putting your 748 00:32:51,440 --> 00:32:53,360 Speaker 1: money where your mouth is, it's just backing up what 749 00:32:53,400 --> 00:32:55,880 Speaker 1: you say you believe, right. So, for instance, there's all 750 00:32:55,920 --> 00:32:58,360 Speaker 1: sorts of people that will tell you how you should 751 00:32:58,360 --> 00:33:01,240 Speaker 1: be investing your money, and to meet the perfect question 752 00:33:01,280 --> 00:33:03,040 Speaker 1: to ask you in return is well, how do you 753 00:33:03,160 --> 00:33:06,840 Speaker 1: invest your money? Which reveals so much more about the 754 00:33:06,880 --> 00:33:09,320 Speaker 1: person than what they've told you that you should be doing, 755 00:33:09,400 --> 00:33:12,200 Speaker 1: because you're finding out well exactly where their dollars go. 756 00:33:12,600 --> 00:33:15,680 Speaker 1: And so yeah, we discussed exactly how we invest back 757 00:33:15,680 --> 00:33:17,960 Speaker 1: in the episode three forty one. We think it's important 758 00:33:18,000 --> 00:33:21,240 Speaker 1: to be completely honest about how we're handling our money, 759 00:33:21,360 --> 00:33:23,600 Speaker 1: not just telling you what you should do with yours. 760 00:33:23,800 --> 00:33:25,160 Speaker 1: You know, we want to put our money where our 761 00:33:25,160 --> 00:33:27,040 Speaker 1: mouth is. We want to lead by example. I think 762 00:33:27,040 --> 00:33:29,440 Speaker 1: that's something we should all be striving for, putting our 763 00:33:29,520 --> 00:33:31,840 Speaker 1: money where our mouth is, doing the things that we 764 00:33:31,880 --> 00:33:33,640 Speaker 1: know we should that we kind of maybe preached to 765 00:33:33,680 --> 00:33:35,920 Speaker 1: somebody else. Really, when it comes down to it, it's 766 00:33:35,960 --> 00:33:37,680 Speaker 1: doing what we know we should be doing, as opposed 767 00:33:37,720 --> 00:33:39,160 Speaker 1: to just knowing what we know we should be doing. 768 00:33:39,480 --> 00:33:42,080 Speaker 1: And that is an easy way to remove that cognitive 769 00:33:42,080 --> 00:33:44,920 Speaker 1: dissonance from your life. Right, let's get to our next phrase, 770 00:33:45,080 --> 00:33:48,760 Speaker 1: which is another day, another dollar. That's something that people 771 00:33:48,840 --> 00:33:50,800 Speaker 1: might say when they maybe they get home after a 772 00:33:50,840 --> 00:33:52,880 Speaker 1: long day of work, you know, working in the factory 773 00:33:53,600 --> 00:33:55,640 Speaker 1: kind of thing, kicking their their shoes off, putting their 774 00:33:55,640 --> 00:33:58,720 Speaker 1: feet up on the ottoman um. This phrase speaks to 775 00:33:58,760 --> 00:34:00,640 Speaker 1: work when the crack open their shape paint of beers. 776 00:34:01,400 --> 00:34:05,400 Speaker 1: That's right after you hear the whistle blown. You know 777 00:34:05,440 --> 00:34:07,800 Speaker 1: that this talks about like just working and like resigning 778 00:34:07,800 --> 00:34:10,920 Speaker 1: yourself to just getting a paycheck indefinitely. Right, this put's 779 00:34:10,960 --> 00:34:13,239 Speaker 1: work in a negative light. And unfortunately, this is a 780 00:34:13,280 --> 00:34:16,000 Speaker 1: familiar sentiment because so many people have adopted this way 781 00:34:16,040 --> 00:34:18,839 Speaker 1: of thinking, but it doesn't have to be true if 782 00:34:18,880 --> 00:34:21,799 Speaker 1: you change your mindset and how you think about your job. Right, 783 00:34:22,040 --> 00:34:24,160 Speaker 1: working is good for the soul when you realize that 784 00:34:24,160 --> 00:34:26,360 Speaker 1: you're providing a service or a product to someone else, 785 00:34:26,840 --> 00:34:29,520 Speaker 1: you're bringing value into the world, and hopefully you can 786 00:34:29,560 --> 00:34:31,399 Speaker 1: also do it in a way that connects with them 787 00:34:31,600 --> 00:34:34,680 Speaker 1: on a personal or an emotional level as well. Right like, 788 00:34:34,719 --> 00:34:36,440 Speaker 1: when you realize that this isn't just a job, this 789 00:34:36,480 --> 00:34:39,200 Speaker 1: isn't just business. It's not an exchange of services or 790 00:34:39,239 --> 00:34:41,880 Speaker 1: goods for getting paid, but hopefully you're able to connect 791 00:34:41,920 --> 00:34:44,120 Speaker 1: with them on a human level. And even if you're 792 00:34:44,160 --> 00:34:46,399 Speaker 1: not customer facing, you can still do that. You can 793 00:34:46,480 --> 00:34:49,319 Speaker 1: realize what's being created by at the company that you 794 00:34:49,360 --> 00:34:52,200 Speaker 1: work for. And I think connecting your daily work with 795 00:34:52,680 --> 00:34:55,200 Speaker 1: the positive impact that it's having the bigger picture, it's crucial, 796 00:34:55,239 --> 00:34:57,440 Speaker 1: even if you don't see the customers face. Absolutely yeah. 797 00:34:57,440 --> 00:34:59,160 Speaker 1: And so we're just pointing out that it's not just 798 00:34:59,239 --> 00:35:01,320 Speaker 1: about earning a buck, which is what this phrase is 799 00:35:01,560 --> 00:35:04,040 Speaker 1: all about. Right another day, another dollar. It's just about 800 00:35:04,080 --> 00:35:06,400 Speaker 1: you putting in your time and then receiving a paycheck. 801 00:35:06,480 --> 00:35:09,040 Speaker 1: So that was actually nineteen sixties country song by the way, 802 00:35:09,080 --> 00:35:11,879 Speaker 1: another day, Another Dollar. I didn't know that until think 803 00:35:11,920 --> 00:35:14,520 Speaker 1: William's era. Right, Yeah, And it's just uh that this 804 00:35:14,600 --> 00:35:16,880 Speaker 1: artist named Win Stewart, he refers to like work in 805 00:35:16,880 --> 00:35:19,200 Speaker 1: his whole life and getting paid weekly by his boss, 806 00:35:19,400 --> 00:35:21,120 Speaker 1: which is a sentiment I think a lot of people 807 00:35:21,320 --> 00:35:23,960 Speaker 1: can identify with. And yeah, we'll link to that in 808 00:35:23,960 --> 00:35:25,960 Speaker 1: the show notes because it is a really, really good song. 809 00:35:26,560 --> 00:35:30,640 Speaker 1: But yeah, this mentality, though sucks, working for money is 810 00:35:30,680 --> 00:35:33,040 Speaker 1: a reality of life. But it doesn't mean that we 811 00:35:33,080 --> 00:35:36,000 Speaker 1: should be resigned to working for the man in perpetuity, 812 00:35:36,120 --> 00:35:38,319 Speaker 1: at nausea for the rest of our days. Right, Let's 813 00:35:38,360 --> 00:35:41,360 Speaker 1: let's change this phrase to reflect another day, another dollar, 814 00:35:41,800 --> 00:35:44,239 Speaker 1: that my investments are working for me without even having 815 00:35:44,280 --> 00:35:46,480 Speaker 1: the lift of finger. Right, Like, so this phrase when 816 00:35:46,480 --> 00:35:48,880 Speaker 1: it when it refers to just like going in punching 817 00:35:48,920 --> 00:35:52,080 Speaker 1: the clock, you know, leaving getting paid and never being 818 00:35:52,080 --> 00:35:54,800 Speaker 1: able to break that cycle. Uh, well, we want all 819 00:35:54,840 --> 00:35:56,600 Speaker 1: all of our listeners, peple to break that cycle at 820 00:35:56,600 --> 00:35:58,880 Speaker 1: some point and for financial independence to be a reality 821 00:35:59,120 --> 00:36:01,319 Speaker 1: that's looming in your future. Um, and if you have 822 00:36:01,480 --> 00:36:03,360 Speaker 1: another day, another dollar, I'm just gonna keep punching the 823 00:36:03,360 --> 00:36:06,480 Speaker 1: clock mentality, it's gonna be longer until you actually get there. Yeah, 824 00:36:06,480 --> 00:36:08,880 Speaker 1: when you're just working, the day's dragged by, But when 825 00:36:08,880 --> 00:36:10,920 Speaker 1: you're investing, you can't wait for the next day to 826 00:36:10,920 --> 00:36:13,920 Speaker 1: show up. Because yeah, that's how compounding interest works. Maybe exactly. 827 00:36:14,040 --> 00:36:15,960 Speaker 1: Our last phrase that we're gonna get to this episode 828 00:36:16,000 --> 00:36:18,439 Speaker 1: is you can't take it with you. Uh. And this one's, 829 00:36:18,520 --> 00:36:20,480 Speaker 1: you know, pretty accurate. When you die, it doesn't matter 830 00:36:20,520 --> 00:36:23,320 Speaker 1: how much money you've gotten your bank or your brokerage account, 831 00:36:23,320 --> 00:36:26,600 Speaker 1: because that money is no longer yours. Uh. It goes 832 00:36:26,640 --> 00:36:29,879 Speaker 1: to your heirs, or if you don't have um a will, 833 00:36:29,960 --> 00:36:31,879 Speaker 1: maybe it goes to the state and they decide where 834 00:36:31,880 --> 00:36:34,120 Speaker 1: it goes. Let's just for a second pause here and 835 00:36:34,160 --> 00:36:35,960 Speaker 1: tell people go get a will. Go get a will, 836 00:36:36,040 --> 00:36:37,640 Speaker 1: and it doesn't have to cost a whole lot of money. 837 00:36:37,640 --> 00:36:39,160 Speaker 1: Some people think they have to go to an attorney 838 00:36:39,640 --> 00:36:41,960 Speaker 1: uh and pay lots of money, and some people with 839 00:36:42,040 --> 00:36:45,399 Speaker 1: more complicated circumstances do. But there's also a website called 840 00:36:45,440 --> 00:36:47,680 Speaker 1: free will dot com. Go there, create a will. It's 841 00:36:47,680 --> 00:36:49,479 Speaker 1: super simple. That's actually where Matt and I did ours, 842 00:36:49,760 --> 00:36:51,120 Speaker 1: So check it out. We'll link to it in the 843 00:36:51,120 --> 00:36:54,560 Speaker 1: show notes. It's free and give it a shot. Yeah, absolutely, Yeah, 844 00:36:54,600 --> 00:36:56,439 Speaker 1: but just keep in mind though, Yeah, when you die though, 845 00:36:56,840 --> 00:36:59,719 Speaker 1: like you don't have say over what happens. Well, no, 846 00:36:59,840 --> 00:37:01,479 Speaker 1: you you have say over what happens to the money, 847 00:37:01,560 --> 00:37:03,319 Speaker 1: right because you set up a will or you have 848 00:37:03,440 --> 00:37:04,799 Speaker 1: or you can have a trust. But you don't get 849 00:37:04,800 --> 00:37:07,200 Speaker 1: too actulessly your beneficiary on your investment account. Yeah, but 850 00:37:07,239 --> 00:37:09,640 Speaker 1: you don't get to actively enjoy or do things with 851 00:37:09,680 --> 00:37:12,920 Speaker 1: that money once you're dead. Yeah. So you might be 852 00:37:12,960 --> 00:37:15,080 Speaker 1: dead and you might be like, I have made wise 853 00:37:15,120 --> 00:37:17,719 Speaker 1: decisions your whole life, and your money gets left and 854 00:37:17,719 --> 00:37:20,200 Speaker 1: it buys one Misserati and that's it. And you're like, 855 00:37:20,239 --> 00:37:22,000 Speaker 1: that's not what I wanted to do with that, But 856 00:37:22,200 --> 00:37:24,680 Speaker 1: you can't really do anything about it, that's right, But uh, 857 00:37:24,760 --> 00:37:26,920 Speaker 1: it's so it's it's about finding a balance, right, So 858 00:37:27,000 --> 00:37:29,560 Speaker 1: make sure that while you're saving and investing for the future, 859 00:37:29,800 --> 00:37:32,239 Speaker 1: that you don't forget to live your life today. That's 860 00:37:32,239 --> 00:37:33,560 Speaker 1: a part of why we have a craft beer on 861 00:37:33,600 --> 00:37:36,359 Speaker 1: every single episode. It's a way for us to demonstrate 862 00:37:36,400 --> 00:37:38,840 Speaker 1: that we do smart things with our money. We strive 863 00:37:38,920 --> 00:37:40,759 Speaker 1: to invest a lot of it, but at the same 864 00:37:40,800 --> 00:37:43,799 Speaker 1: time we spend some money on craft beer that some 865 00:37:43,840 --> 00:37:46,160 Speaker 1: people would say that is so stupid. I can't believe 866 00:37:46,200 --> 00:37:49,200 Speaker 1: they spend that much money on a single bottle of beer. 867 00:37:49,440 --> 00:37:50,880 Speaker 1: But for us, it's worth it. And it's a simple 868 00:37:50,880 --> 00:37:52,480 Speaker 1: way that we can show that, you know what, Like 869 00:37:52,560 --> 00:37:54,640 Speaker 1: it's all about finding that balance for you. Yeah, and 870 00:37:54,640 --> 00:37:57,319 Speaker 1: I guess you can't have champagne tastes in like one 871 00:37:57,440 --> 00:37:59,359 Speaker 1: or two areas of your life, right and craft beer 872 00:37:59,560 --> 00:38:02,400 Speaker 1: we cympically choose that's that area of our lives in 873 00:38:02,440 --> 00:38:04,279 Speaker 1: which we will have champagne takes. We will buy the 874 00:38:04,280 --> 00:38:06,960 Speaker 1: good stuff. We drink better than n of people who 875 00:38:06,960 --> 00:38:09,120 Speaker 1: are drinking just the Champagne of beers were drinking, like 876 00:38:09,160 --> 00:38:13,560 Speaker 1: the actual champagne equipped exactly. And yeah, like speaking of 877 00:38:13,600 --> 00:38:15,319 Speaker 1: that phrase, Matt, you can't take it with you, I 878 00:38:15,360 --> 00:38:17,879 Speaker 1: think some people would respond to this phrase and they 879 00:38:18,040 --> 00:38:20,840 Speaker 1: they're automatic knee jerk reaction would be like, Yolo, you 880 00:38:20,880 --> 00:38:23,200 Speaker 1: only live once, So if you can't take it with 881 00:38:23,280 --> 00:38:25,080 Speaker 1: if I can't take it with me, spend it and 882 00:38:25,160 --> 00:38:27,120 Speaker 1: enjoy it. Now. That's what I'm gonna do. But there's 883 00:38:27,120 --> 00:38:29,959 Speaker 1: a happy medium, right, Uh. Either it will be into 884 00:38:30,040 --> 00:38:32,359 Speaker 1: that Yolo camp where we spend every time that comes 885 00:38:32,400 --> 00:38:34,839 Speaker 1: in or will be prone to hoarding. If we don't 886 00:38:34,840 --> 00:38:36,880 Speaker 1: live our lives with that realization that we can't take 887 00:38:36,920 --> 00:38:39,400 Speaker 1: it with us, will be attempting to amass more than 888 00:38:39,440 --> 00:38:42,719 Speaker 1: we need to, putting too much emphasis on work and 889 00:38:42,800 --> 00:38:45,160 Speaker 1: wealth generation. But let's put that in its place, right, 890 00:38:45,200 --> 00:38:46,759 Speaker 1: because you only get one life and you can't be 891 00:38:46,760 --> 00:38:48,520 Speaker 1: sure when it's gonna end. You don't know if it's 892 00:38:48,520 --> 00:38:50,799 Speaker 1: gonna end tomorrow like we none of us know that, 893 00:38:51,120 --> 00:38:53,239 Speaker 1: and you can't take that money with you. So I 894 00:38:53,239 --> 00:38:56,239 Speaker 1: think that is an important phrase, maybe a somber note 895 00:38:56,280 --> 00:38:58,840 Speaker 1: to end this podcast on, but it's one that we 896 00:38:58,880 --> 00:39:01,759 Speaker 1: should kind of take in to our everyday handling of 897 00:39:01,760 --> 00:39:05,120 Speaker 1: our money. We're saving for goals that we hope to accomplish. 898 00:39:05,360 --> 00:39:07,759 Speaker 1: We don't know if we're going to live to accomplish 899 00:39:07,800 --> 00:39:10,040 Speaker 1: those goals either, and so we have to kind of 900 00:39:10,080 --> 00:39:12,840 Speaker 1: hold it loosely to a certain extent, make smart choices. 901 00:39:12,880 --> 00:39:14,359 Speaker 1: We don't want to be foolish with our money, as 902 00:39:14,360 --> 00:39:17,120 Speaker 1: we talked about earlier. We want to be wise investors, 903 00:39:17,480 --> 00:39:19,040 Speaker 1: but at the same time, we want to live for today, 904 00:39:19,120 --> 00:39:21,239 Speaker 1: in the here and now, be present and enjoy our 905 00:39:21,280 --> 00:39:24,360 Speaker 1: lives and the good things that we have without being miserly, 906 00:39:24,600 --> 00:39:28,640 Speaker 1: without putting too much focus on you know, decades from now, yeah, exactly. 907 00:39:28,640 --> 00:39:30,000 Speaker 1: And it's important to make sure you get those things 908 00:39:30,040 --> 00:39:32,239 Speaker 1: in the right order, because if you're living life too 909 00:39:32,280 --> 00:39:34,440 Speaker 1: much before you've done those smart things with your money, 910 00:39:34,520 --> 00:39:37,319 Speaker 1: oftentimes you're gonna be stuck, uh with the another day, 911 00:39:37,360 --> 00:39:39,680 Speaker 1: another dollar sort of mindset where you have to work 912 00:39:40,120 --> 00:39:42,239 Speaker 1: every single day in order to make that money. It's 913 00:39:42,239 --> 00:39:44,520 Speaker 1: all about finding that balance, and that's certainly a part 914 00:39:44,560 --> 00:39:47,239 Speaker 1: of the ethos of our show. We don't take really 915 00:39:47,280 --> 00:39:49,400 Speaker 1: an extreme view on one end or the other, like 916 00:39:49,520 --> 00:39:50,840 Speaker 1: on one side or the other, because we'd like to 917 00:39:50,840 --> 00:39:52,799 Speaker 1: just take a reasonable and thoughtful approach to our money. 918 00:39:52,800 --> 00:39:54,399 Speaker 1: That's what we do here on the show every single week, 919 00:39:54,440 --> 00:39:56,520 Speaker 1: and we've hoped with this episode we've helped you to 920 00:39:56,560 --> 00:39:59,279 Speaker 1: think about some of the different phrases that you will 921 00:39:59,320 --> 00:40:02,440 Speaker 1: often maybe here others say, or even catch yourself saying. 922 00:40:02,680 --> 00:40:05,040 Speaker 1: But hopefully we've been able to speak some truth into 923 00:40:05,080 --> 00:40:07,080 Speaker 1: these phrases and how they actually apply to how you 924 00:40:07,120 --> 00:40:09,239 Speaker 1: handle your money. You're a reasonable fellow money. I just 925 00:40:09,320 --> 00:40:12,239 Speaker 1: want you to know that I try to be all right. Let'sten, 926 00:40:12,239 --> 00:40:14,200 Speaker 1: I get back to the real quick because obviously we 927 00:40:14,239 --> 00:40:17,360 Speaker 1: do prioritize uh, enjoying great things, spending our money on 928 00:40:17,400 --> 00:40:19,319 Speaker 1: things that we care about. Now. Today on the show, 929 00:40:19,400 --> 00:40:25,280 Speaker 1: we drank a elderberry beer, Northwest sour Ale by Cascade Brewing. Matt, Uh, 930 00:40:25,440 --> 00:40:27,799 Speaker 1: this beer, I gotta I'm just gonna say it's it 931 00:40:27,840 --> 00:40:29,680 Speaker 1: tasted a lot like the beer that we had on Monday, 932 00:40:29,719 --> 00:40:32,279 Speaker 1: didn't it. Yeah, it's definitely got some similar qualities. You know, 933 00:40:32,320 --> 00:40:36,440 Speaker 1: this is another sour ale that they age in barrels, right, 934 00:40:36,480 --> 00:40:39,600 Speaker 1: This one's age and red wine barrels for over two years. Right, 935 00:40:39,719 --> 00:40:42,800 Speaker 1: that's crazy. That's that's a really long time. And here's 936 00:40:42,840 --> 00:40:45,319 Speaker 1: the other thing, is this entire time, I hadn't like, 937 00:40:45,400 --> 00:40:47,359 Speaker 1: I don't think I've ever had an elderberry in my mind. 938 00:40:47,360 --> 00:40:49,680 Speaker 1: I was thinking mulberries, that's what. That's the tree that 939 00:40:49,719 --> 00:40:51,400 Speaker 1: we have down here in the southeast at least I 940 00:40:51,400 --> 00:40:52,759 Speaker 1: don't know. They might be all over the country, but 941 00:40:52,800 --> 00:40:56,080 Speaker 1: in the Southeast earlier in the summer. Uh, every year, 942 00:40:56,200 --> 00:40:59,480 Speaker 1: these trees fruit and then they just dropped their berries 943 00:40:59,520 --> 00:41:02,280 Speaker 1: like all over a sidewalk, like literally if it falls 944 00:41:02,280 --> 00:41:04,799 Speaker 1: on you, because it's just gotten so ripe. It'll just 945 00:41:04,840 --> 00:41:07,480 Speaker 1: like explode on your shoulder and just stay in your clothes. 946 00:41:07,800 --> 00:41:10,239 Speaker 1: But those are edible, and for some reason in my mind, 947 00:41:10,280 --> 00:41:11,719 Speaker 1: I was thinking that that's what this beer was made 948 00:41:11,719 --> 00:41:13,080 Speaker 1: out of. But this beer was actually made out of 949 00:41:13,080 --> 00:41:15,719 Speaker 1: elder berries. And I've never actually had an elder berry, 950 00:41:15,719 --> 00:41:18,759 Speaker 1: at least not in like straight fruit form before, But 951 00:41:18,920 --> 00:41:20,879 Speaker 1: I assume it tastes like this beer. It's really good. 952 00:41:21,320 --> 00:41:24,200 Speaker 1: Definitely has a tart quality to it. And I don't 953 00:41:24,200 --> 00:41:26,440 Speaker 1: know if I'm just being weird here, man, but it 954 00:41:26,480 --> 00:41:30,200 Speaker 1: almost has like this savory tartness going on. It kind 955 00:41:30,200 --> 00:41:33,279 Speaker 1: of reminds me of yellow mustard, you know, like when 956 00:41:33,280 --> 00:41:34,960 Speaker 1: you put just a little bit of yellow mustard on 957 00:41:34,960 --> 00:41:37,840 Speaker 1: a hamburger. Like I went my entire life without putting 958 00:41:38,000 --> 00:41:40,520 Speaker 1: mustard on burgers, but then every time I go out 959 00:41:40,560 --> 00:41:42,600 Speaker 1: and have a burger, I'm just like, Oh, what is 960 00:41:42,600 --> 00:41:44,239 Speaker 1: it about this burger that's so much better than the 961 00:41:44,239 --> 00:41:46,600 Speaker 1: burgers I make at home? And I realized that, you know, 962 00:41:46,640 --> 00:41:48,160 Speaker 1: when you go out, there's always just like a little 963 00:41:48,160 --> 00:41:50,160 Speaker 1: bit of mustard on there gives it that nice kind 964 00:41:50,160 --> 00:41:53,360 Speaker 1: of tart savory flavor. Something about this beer makes me 965 00:41:53,400 --> 00:41:55,560 Speaker 1: think of yellow mustard. Uh, and it makes me just 966 00:41:55,560 --> 00:41:59,080 Speaker 1: want to like chew it up like like a burger. 967 00:41:59,440 --> 00:42:01,520 Speaker 1: But I really like this. It's definitely got those oat 968 00:42:01,560 --> 00:42:04,440 Speaker 1: qualities going on, and anything aged and oak I'm going 969 00:42:04,480 --> 00:42:06,239 Speaker 1: to be a fan of pretty much. So what your 970 00:42:06,280 --> 00:42:08,680 Speaker 1: thoughts on the same. Yeah, I think it's actually even 971 00:42:08,760 --> 00:42:11,960 Speaker 1: better than the Creek, which is interesting. Love cherry beers, 972 00:42:11,960 --> 00:42:16,280 Speaker 1: like there's being pie cherries, but that the Creek just again, 973 00:42:16,320 --> 00:42:19,200 Speaker 1: like we said on Monday, just wasn't as reminiscent of 974 00:42:19,280 --> 00:42:21,200 Speaker 1: the normal Creeks I used to drinking. I thought that 975 00:42:21,280 --> 00:42:22,640 Speaker 1: one was great, and maybe too it was because the 976 00:42:22,680 --> 00:42:24,960 Speaker 1: additional age on it that it was age forever two 977 00:42:25,040 --> 00:42:28,160 Speaker 1: years since, like just even more okay and just even 978 00:42:28,200 --> 00:42:31,680 Speaker 1: more balanced, like extra soul. Yeah, so I thought it 979 00:42:31,719 --> 00:42:33,880 Speaker 1: was great. And I don't think I've ever had a 980 00:42:33,920 --> 00:42:36,160 Speaker 1: bad beer from Cascade. Nope. I've had some that I 981 00:42:36,160 --> 00:42:38,040 Speaker 1: don't like as much as others. But they make just 982 00:42:38,200 --> 00:42:40,960 Speaker 1: great sour beers and that's all they make, so they're 983 00:42:41,000 --> 00:42:44,200 Speaker 1: kind of like specialists basically. So if you try any Cascade, 984 00:42:44,400 --> 00:42:46,640 Speaker 1: you're probably not gonna be disappointed, that's true. Yeah, all 985 00:42:46,680 --> 00:42:48,160 Speaker 1: the stuff that comes out of their brewery, I feel 986 00:42:48,200 --> 00:42:50,440 Speaker 1: like are at least like, are there fours or higher 987 00:42:50,440 --> 00:42:53,160 Speaker 1: on the untapped scale? You know? Uh, and I would, 988 00:42:53,200 --> 00:42:55,120 Speaker 1: I'd probably get this one like a forward and quarter 989 00:42:55,160 --> 00:42:56,760 Speaker 1: maybe even a four and a half is really solid. 990 00:42:56,800 --> 00:42:58,760 Speaker 1: There you go, but that's gonna be it for this episode. 991 00:42:58,760 --> 00:43:00,480 Speaker 1: You can find our show notes up on the website 992 00:43:00,480 --> 00:43:02,080 Speaker 1: at how the Money dot com, and we'll make sure 993 00:43:02,120 --> 00:43:04,680 Speaker 1: to link to any of the different resources we mentioned. 994 00:43:04,719 --> 00:43:07,200 Speaker 1: We mentioned uh a couple of previous episodes, and we'll 995 00:43:07,200 --> 00:43:09,200 Speaker 1: make sure to link to that that Win Stewart's song 996 00:43:09,239 --> 00:43:11,400 Speaker 1: as well, so you can get your sixties country action 997 00:43:11,480 --> 00:43:13,439 Speaker 1: going on. Oh man, just sit back and like non 998 00:43:13,480 --> 00:43:16,320 Speaker 1: a corn cob pipe drinking your high life. Listen to 999 00:43:16,360 --> 00:43:19,920 Speaker 1: that song. That sounds like an excellent like Thursday night 1000 00:43:19,960 --> 00:43:22,000 Speaker 1: right there, or maybe Wednesday night since you listened on 1001 00:43:22,000 --> 00:43:23,560 Speaker 1: a Wednesday. It sounds like a nice way to wind 1002 00:43:23,600 --> 00:43:26,399 Speaker 1: down like that. That's h Matt. Until next time, Best 1003 00:43:26,400 --> 00:43:27,839 Speaker 1: Friends Out, Best Friends Out.