Friday Flight - Paltry Predictions, Working for Wealth, & Black Friday Unfurled #900
35:59 Share

Joe, if anyone knows how day today expenses at up its our listers here at how to money, whether we're talking about groceries or fun evening out with some friends or even bigger expenses like taking your car to the shop or medical bills. But luckily, with navy federal credit unions new cash rewards plus card, you're going to earn unlimited two percent cash back on every purchase.

Another great thing about the new cash awards plus card is you never have to pay attention to changing spend categories. And with a two thousand dollars spend, you will receive two hundred dollars cash back and a walmart plus annual membership, learn more navy federal artwork. Navy federal is in charge by in C. U. A.

As a parent, you want what's best for your teen. You want them to grow and thrive in this world, but you also want to make sure they're staying safe. That's why instagram is introducing teen accounts with automatic protections for who can contact teens and the content they can see. Instagram teen accounts built a limits for teens, and please of mind for parents, learn more at instagram. Dotcoms lashin accounts .

with the united explored card earn fifty thousand bonus miles, then had replaces unseen and destinations unknown. Wherever your journey takes you, you'll enjoy remarkable rewards, including a free check check bag and two times a miles on every .

united purchase. You'll also receive two times a miles on dining in at hotel, so every experience is even more rewarding. Plus when you fit, you can look forward to united club access with two united club one time passes per year, become a united explore card member today, and take off on more trips so you can take in once in a lifetime experiences everywhere you travel.

Visit the explored card that come to apply today. Cards issued by A, G, P, organ, chase, bank, N, A, number, F, D, I, C, subject to credit approval, offer, subject to change terms apply. Well, him too, had a money. I'm joe and I am mat.

Today we're talking about poultry predictions, working for wealth and black friday on the world.

That's right. This is our friday flight. We're going to get to the most pressing stories that have to come across this week, how they pertained to your finances. And you're mentioning black friday age old. They have visions of like the nineties and the two thousands were focused line up at the store like you did back in the day to get the flat screen. People don't do that anymore.

Now what they know, I don't do that, at least i'm glad they know.

Like I just don't go into stores hardly that often. But where I do go is costco. Did you see that costco unveiling the little door scanner or .

scanner I went last week and they had them set up you you have like skin your costco ID on your .

way in and say that i'm sorry, I take you back. Cosa w the lady in front of me, her car, because they still have somebody there that's like attending to the machine or whatever. And the lady in front of me, her card IT said that her membership was invalid or something like that in the lady was like, not, not and then the other leaders like, oh, you can you've been common and and you've paid and had no problem registering or checking out. She's like now say, okay.

come on on there's so figure out the king.

right? I guess. So I should be generous .

there so I think what cocos trying to do here tell me if you think i'm wrong, I think what they trying to get that netflix bump, the cracking down on passwords and and costco try to crack down on membership sharing. And so they're thinking they're going to see cleaning ful bump in in people signing for membership because just .

give somebody else your card. No.

because now IT shows up on the screen, which your picture looks like when you that's the whole .

point I like I don't know .

why they're doing IT. I'm sorry, sir. This doesn't look like you. This is somebody .

else's membership. Well, that's that's why that your costco card has your picture on IT to show him anyway.

just a bigger picture door. You they're not always checking that that closely, but they will be now with the scanner. So this is like their technological ability to now say, oh, math coming in that actually math versus math neighbor who he .

lent his membership to say, yeah, i'm curious to see if that works. I will say, based on our conversation with Chris hutton recently, can you hold up your your apple pay, your phone to be let in as well because he was talking about how he he puts his costar card on his phone on his apple pay, which makes sense that you .

can do to apple pay, right? I thought you put that on um he's the costco APP.

yet there's costco APP. I was that.

what do you saying you think apple pay? Now you can put your costco on apple, your membership on apple pay?

No, I was thinking, okay, double click to pay flash. Double click to also get in the store. Yeah, that's what I want to be able to do.

I don't have to open up a separate APP. Well, sorry, but on my wishes OK. But by the way.

calling was yesterday and you're thing with your kinosling is you pay them to note Candy, right?

Ah okay. So that last year was the first year that we've ever implemented that. And IT was crazy successful women are eating this Candy. Oh, I do, olly.

We still what we did earlier this week, we literally threw out all of our old Candy because it's just mean it's stuff that's old and you know like you've had a sneakers bar or something that kind of been old. And IT sits there. IT gets all mixed in with the fruit flavors, and then the joye all messed up.

I hate that. And so in some of that self, I don't know how all that is. And so the ability just completely hit research before the halloween, the new halloween stash came around, but the kids have not yet fully sorted out all of the canadian and how much they want to cash in essentially.

But yeah, now I think it's good plan. I think if I can so much, I need all of IT. Or maybe you can incentivize them with .

money from the head point part, with somebody eating all that, and they can be overload. man.

I mean, number of the first couple of days after trickle treating, when I was a kid, I was just like .

gorgeous and I swear to like in years past, this is always when the sickness gets kicked off on its right after halloween and it's not necessarily the sugar so bad for you is the fact that keeps you from the other healthier things that you need to be filling .

over taking calories on crap. Exactly where are you got .

implement similar .

reasons for the holiday? I don't know. I like what you're doing and I might I think I have least give the option because see your kids giving up a lot of their cy for money. So good. I don't know if I do the same thing, but am I give me .

with the option? It's hard initially because their eyes are wide and this is a ton of fun. But after a while, they start realizing that actually, maybe I will take the buyout .

is ten sense of piece.

ten sense of piece and then for for the bigger ones a quarter. okay. So i'm willing to pay out even more for the big because some of the neighbors, you know, you always hear about the I go to the neighborhood, they like the king size, but anything that's like, you know, like the full size, anything bigger than the fun size, i'm going to pay a quarter for sense.

Yeah, I like IT. Let's give the friday fight night all the stories we have found interesting this week. Let's kick IT off by talking about in investing prediction.

There are the good folks over carbon tax. I don't really know anyone. There are never talked anyone good folks. I can't imagine all of them were good. Some of them maybe they are so generous.

I know will they just announced that future market returns are likely to be muted over the coming decade, basically saying, hey um weet first see the S M P five hundred returning like three percent annualized over the coming ten years. So every single year three percent returns, that's basically one percent after inflation, which pretty crummy. So um yeah not if you hear that you take a heart, you're like that's not good.

I would hope my stock portfolio would do Better than that um and it's worse than any other prediction that you are. I have seen out there on the internet, which is something we think about kind of predictions regularly on the show because a lot of other market sucres or want to be sustained, they've been editing their market predictions for this year upward, which is always amazing, a psycho. I predicted something in the beginning the year, but it's october in the markets been crushing.

Can I revise that is going to week those number. And so it's all cheating. You're not a lot to do that.

right? So they get the begin of the year. The average market predict was saying I first see a two percent return, something very tepid over the coming year. It's been much more higher than that. So based this pretention is saying to keep your expectations low for longer term market returns.

And I guess that makes a question, what should we do with these sorts of pragmatistic tions? And I think you and I we always come down on the side of not much um you we have seen actually abNormally great returns recently. This year has been amazing.

Glasha was great in the stock market, but we going to take the good years with the bad ones. IT is I think there is certainly a possibility the golbin sex could be spotted on with this, where we could see a decade that return weren't so great after a decade of fantastic returns. The truth is we just don't know.

And it's just also important to note, the stock market is not like it's completely detached from reality. I think valuations are high, but our economy is doing far Better than other wealthy nations right now. So it's not like stock market.

Why is that so high? Like we can there's at least of method to the man. There's a reason for .

IT happening totally. yeah. And I will say, historically, a return of three percent or less for the decade, that happens less than ten percent of the time. That's not very Normal.

Could IT happen again? yes. But these predictions, they should not influence the the actions that you take today.

If you're in the wealth building phase of your life again, every single prediction about what the S M P would do this year was way off. Predictions were that we'd see something like a two percent increase in the S M. P.

But we're somewhere around twenty percent right now. If you zoom out just a little bit more and look at the past twelve months, we're at thirty seven percent of thirty like that's insane. It's close to like four years worth of growth. I just the best .

is reversion of the mean, what that golden sex is counting on or at least betting on.

I don't know. I mean, like we are like, you know I we're not permitted, right? Like we don't think that are that we are on this endless upward rise.

There are some signs that us talks in particular that they might be over value but trying to shift to savings because you think that you're going na make more over there over the next ten years. This sounds like a really bad choice. And if you ask me, especially if you have decades to invest, keep below costs averaging into the market.

But I I mean, if I was saving for as short to medium term goal of less, say, four to five years, guess what? I'm still gna stick that market that money into the market if IT was me personally, but especially if we're talking about retirement savings were going to be just fine, state diversified and continue to invest in the market. Yes, that's what we say here.

But all talking about investing, there was some interesting data recently that came out about how different generations have different investing styles. And we talked about what was being playing about generational differences in how we view money. That was kind of a fun conversation, but those differences have largely been defined by cultural markers and by macroeconomic events, specifically the most dramatic ones, genie, for instance.

right? They've seen incredible stock gains since they started investing, which means they are kind of keen on investing. Hey, this is a good game to play because it's helping me build my wealth. That's the good part I don't know. Maybe makes me think about millennial to in the great recession um sure graduating into a poor economic climate.

Maybe there are a little more conservative and so jensie, as IT turns out, is taking more of a gambling mentality into how they invest their we josh Brown actually recently said that very similar thing. When he came on the show and essentially they are the Robin hood generation, right? Yeah and they don't mind taking risky bets on single stocks, crypto to coins n fts. And remember those things, nobody talks about N F T anymore, man. I think they've largely gone by the wayside.

And a do people care like IT wasn't that long ago, but IT seems like forever you like one hand. It's like we were talking about that not all that long ago. I can still I still remember the stories yeah. As we talked about, IT also seems like a lifetime ago because of how much has changed what when IT comes to what folks are allocating the funds tours .

literally haven't heard those three letters put together a long time. Nobody seems to care. And i'm sure of those things are worth a whole at less, if not completely worthless um but that all of us have a bias because of how we grew up, what we are talking about, money well, we've experiences and then kind of what we've experienced overall culturally and economically.

But I think this is just for us math reading this and makes me think that people just need to look at a longer historical timeline to be your guide when IT comes to how you invest hundred percent. Not just, hey, what's happened over the past year, two years, five years, if you are one of those people who is risk averse, the truth is taking no rist comes with its own risk as well, namely inflation taking too much as on the other hand, comes with the potential for big losses. So I guess, slow, steady risk appropriate.

That would be our advice. That slight, typically our advice on the show. But I see these different generations kind of taking different tax. And it's like, I don't know, maybe more baLanced view baLances response from millennial s agency and huge lectures and rumors tools is what's .

called for makes a ton of sense that we need to look outside of our own personal experiences. Let's go back. Even another generation makes me think of the silent generation or the greatest generation. I don't know whatever is that call IT, but like the hesitancy to invest in the market because of the great depression, sticking money under your mattress as opposed to trusting in actual financial institutions. But why we're on this note of investing morning star, they recently read a piece about trading platforms that are increasingly incentivising risk.

We're talking about game fiction here because these game like elements, they can be great for any vision saving, but I think they can lead to really poor behaviour on the investing side, leading to more frequent trading, leading to speculative bets. And again, this revisit a broken age that in the spotlight, Robin hood, they are now allowing focus to bet on the election on their platform. I hate this.

We did an upset many years ago at this point about how to level up your money game by using the fiction. But I just hate that it's it's such a slippy slow. We're seeing more platforms.

Is that is that calls you like? I predict that is one, but there are these new gambling market platforms that are I I don't like a former tory reasons. So obviously, the fact that folks are losing money, but I think a lot of individuals see this as their sort of four ray into, in this case, politics, right?

It's like, well, I don't know my money where my mouth is, yeah, but the thing is it's less of a focus on policy and is more of a focus on sort of the the pop cultural elements of IT by just like i'll let me throw some money on that where the winds blow in right now. Yeah and that's part of IT that I hate you if you are sort of betting in this way. I think people have a belief that they are sort of being involved with politics. But in in essence, it's they're not at all say yes.

Our attention is being has been hacked by the social apps and now our investing habits have been hacked in some ways by by at least certain companies trying to get us to participate more in risky behavior. So you're right.

I think unification can work in a positive way there some there some apps out there thinking of like cube money that that's one of those kind of budgeting banking apps that can help you use the envelope system in a digital way. That's a great way to game a fire finances. And then there are negative ways in which were being played on in the game fictions sphere, such as gaming on the election or trading of becoming A A more frequent trader.

That is, what's Carry. So, uh, use the good ways, avoid the bad ones, to the best of your ability. mana.

K about work for a second. At the risk of sending reductive people make more money when they work longer hours no way. Yeah doesn't want like rocket science does IT.

But Tyler cAllen, who is like one of my favour economist, his podcast, he is a very smart individual yeah, great podcast. He wrote about this martial revolution is blog, his name of his special pocket conversations with tyre. So both are good.

But he wrote about this in bloomberg. And he feels like one of the things like, does this need to be said that if you work more, you make more money? Well, I don't know he the way he explains that, I think is helpful.

He highlighted this recent study that economists did, and the study found that a twenty percent variance in lifetime earnings can be explained by a difference in the number of hours that you work. Essentially, if you work thirty five hours a week and your friend works forty five hours a week over time, on average, they are going to make more and compound their wealth more quickly. The new will at a Tyler wrote in the peacemaking, I wrote the decision to work harder Operates on at least two levels.

First, you put in more total time, which leads to higher lifetime earnings. Second, you invest more in your human capital, which makes you more productive. Again, this isn't something that's shocking or h wasn't, I think, understood by many kind of intuitively interesting to see some data attached to this common sense economic reality.

And that doesn't mean that I think everyone should go out their work seventy hours a week. Part of the reason investing makes so much sense is because I can allow you to work less, right? So we letting your money work harder for for you, then you're working for yourself.

I feel like so everyone or not everyone, but a lot of of like the horsey theory, I feel this is a perfect illustration because there are a lot of folks are like, yeah no that but then you get folks who are educated and they start doing research and they start picking IT apart. And there are like, well, actually there's all these other factors that play into IT.

There's don't forget about policy, don't think about the systemic issues that we have, what IT comes to working in anymore. But yeah, in this case, toler, he's like digg into the data even more. And with his research in the numbers in the data able to point out the fact like, oh no, in this case our intuition is actually .

is actually correct. I think of kobe bryant back in the day, he would talk about how I think he used to work out three times a day and he's essentially saying i'm so far ahead of everybody else because of all the hard work I put in. There's some trees to that yeah even if you start working out four times a day, you will never catch up to me is what he was saying to like the Younger, best ball players. And yet hard work isn't everything. But it's amazing how how impacts can be on your word filling journey yeah.

to a certain extent, it's hard to be just put the report, but there is a limit treating your time for money, especially for lower income earners. And it's also important to know that hustle culture, like essentially, as we're talking about here, you can just lead to burn out. It's gonna exhAusting to live that that nose to the grind stone lifestyle for too long.

And despite the fairly clear line that that you can draw, it's twen the hours that you're going to work in, the income that you're going to earn. It's also important to work smart, not just hard rice is not just about put more ours, but to actually think about like work on the job, like not working solely within the job, like by working on the job. You're saying how can actually make this thing Better but then also to prioritize er your life, not just your bank account, not just your net worth because I I think there might be seasons where you do work more to to earn more, but there are also going to be other seasons where work takes more of the back seat.

But more than anything, I think to take away from me, it's just to think about this from a consistently standpoint because I think about the kind of life that I wanted lead, and I think about someone who might be gone hundred and ten percent, right? And I go one hundred ten percent you're earning like ten percent more and that's nice. But you also have like zero margin in your life.

Other aspects of your life are fallowing apart and maybe in the bad and work like twenty five years and thirty years in, right? As opposed to imagine if around years twenty year, like I don't, this is, i've been going pretty hard. What if I doubted back a little bit? This is such a great argument for coasters.

E, right? So for all the financial independence folks out there and to say so, instead i've gone, like i've plugging away at one hundred percent. I'm going to step back back to ninety in a couple years old. I want to step up back to eighty percent. Imagine of gradual stepping off. And imagine if, like thirty, thirty five years in, you say, you know what I want to work like at fifty percent, but because of that, because of all that additional time, maybe you're able to work for another decade, maybe you're able to watch for another twenty years. And think about the added benefit, not only to you like competitive ly from a community standpoint, but also from a financial standpoint by earning fifty percent for another twenty years, but you much further ahead than working an extra ten percent beyond one .

hundred percent for a short .

repute of a lot of percentages. You never do math percentages on park, yes. But i'm just saying that the ability to work for a longer pute of time that had diminished intensity, I think, is going to lead to a much happy life for a lot of folks in a Better financial decision.

And I think you is well, I think a lot of people might read that and they may like, oh, cool, Tyler, so I should be working a lot more. And I don't think that's what he's skinning at. Think he's just getting at A. An ultimate reality that work is typically tied to income.

I like the individual empowerment part of the message he is relying here.

yeah. And the truth is, if you want to earn more, often times IT will involve working more. But you and I were also in favor baLance. And so it's nice to know and it's nice to know that during certain signals of of your life, you might prioritize that and the other times you might back off for a work a little bit because guess what, you have been fruit. You've paid attention to your your investing to your finances, and you don't need to work as hard as everybody else around you is likely doing. But that we're going to get to more on this subs, including what newly weds want for as a wedding gift certainly seems like the concept of a wedding registry is dying. I'll talk about that and more right up for this.

For me, craft beer is the line item .

that adds up in my budget. right? guilty. Yeah.

that's on purpose, of course. But with navy federal credit unions, new cash words plus card, you'll are unlimited two percent cash back on every purchase, including every time you buy one of your favorite beverages.

That's right. Plus one of the great things about the new cash rewards plus card is you never have to pay attention to changing spend categories. This is a really big deal for folks out there who want to make the most of their credit card spending, but who also went to keep things simple and straight. Ford and they're sweats ing the deal because you'll receive two hundred hundred dollars cash back and a walmart plus a new membership with a two thousand dollars spend. Yeah, that's a pretty sweet al.

And don't forget that they also never limit how much you can learn from your spending. So we're talking about earning cash back on the really big purchases in life, not even just those everyday expenses. Learn more.

And navy federal dot work. Navy federal is insured by in C U. A.

If you're looking to take your money game to the next level, then you can't keep doing the same old things that you've always done. Maybe you are saving up for a wedding, or maybe, like a lot of folks, you're socking away money for a solid down payment on your new home. Well, that's awesome.

But these are ambitious goals and is going to take getting organized with your finances, which is where monarch money comes in. Monarch is the top ated all in one personal finance APP. You get a comprehensive view of all your accounts, your investments, transactions and more.

You can create custom budgets. You can track progress toward financial goals and collaborate with your partner. Plus, monarch helps you to make smart money moves to get you closer to your goals. And now get an extended thirty day free trial when you go to monarch money. Dom slash, how to money?

The truth is no one wants to spend hours join accounts are having some, we will spread sheet unless you're map. But long into monarch, you can see IT all in minutes. After trying out monarch for myself, I totally understand mize to Operate the personal finance APP.

And right now, lives of this show will get an extended thirty day free trial when you go to monarch. Money dot com slash how to money, that's M O N A R C H M O N E Y 点 com slash how to money for your extended thirty day for each trial。 Go to monarch money dot com flash how to money for an extended thirty day free trial.

And not sure if you knew this or not, but a procrastinating my middle, me, I thought your new name is David. If you're wrong, well, the truth is I would often rather put off more difficult tasks, which can then make them feel even more adopting as the deadline approaches. But by taking that route, I end up nedley ly overcomplicating my life. I get IT take creating will a trust, though you might be tempted to procreate on that. You may feel complicated, but IT is a need to be trust and will makes creating your will easy, like launching on the cow c and you can get ten percent off a trust in will I come slash the money?

That's right. Ah IT can seem complicated, IT can seem confusing, but that's where trustin will simple step by step process guides you from start to finish one question at a time. They break IT down into manageable bite size approach, able steps in the on top of that you are doing the same thing for your loved ones.

You are saving them time and stress by having all of your documents in one place with bank level encysted. And of course, you can just sleep good at night knowing that each will or trust is state specific. It's legally valid and is customize to your needs.

Yeah so let trust and will uncomplicated the process for you, protect what matters most in minutes at trust and wild com slash how to money and get ten percent off, plus free shipping as ten percent off and free shipping at trust and wild dog com, slash how to money.

We are back to the break. We've got more to get to IT is now time for the ludicrous address of the week.

My favorite of is .

IT literally your favorite time. Do you like you? Our pick this week is from the new york times in the headline reads, hootings tapped to their rising home equity.

This sounds someone you handle. U sounds like this is the movie we ve seen before. And IT doesn't end well. Yeah, it's like the second joker.

I guess I was apparently paying everyone musical.

yeah. And I think I could have told you that even just like in the initial the first production meeting, this is what a for everyone out there who owns at home, it's incredible, exciting to see the value skyrocket, which directly impacts on that worth maybe for you.

It's like your favor past time is happen over to silo and check in out your estimate if you bought at home like four or five years ago or the decade even before that you've done incredibly wealthy yourself. But what should you do with that mountain of increased equity? Well, that's another matter.

BaLances on, hey, ocs are rising quickly twenty percent over the past few years. Home equity loans that have fixed rates are becoming more popular this year as well. But once you take that equity out and you spend IT, well, you've now got another recurring monthly bill in your life IT put your financial security at risk. And IT is not that considering A A lock is never a good idea, is just that is rarely is for most folks, for the kind of spinning that most folks out there are being tempted into.

And i'm hinting literally like solicitor to take out money from my bank or credit union because there are look at all how I would have that is .

one hundred to use is I want I think that's one hundred percent of reason. The fact there are so many mortgage services out there and their text us they're sending us a email blast saying it's so easy, right, ford, they want a business. Yes, because I mean, that's the business that they're in is to try to get more customers taking money out of their homes, out of this piggy bank.

And it's the fact too that like nobody is bar hasler say nobody but like if you have a retirement account, you probably feel worse for like tip making a four went alone or cashing out of a retirement account feels like a more agreeable move because is literally labeled like this is your retirement account at your house oh, so it's a great area. Who knows what? You can use this for all sorts of things.

Yeah, I think I think you're right. And the thing is we don't actually have to we don't really know why people are tapping into home equity.

I would be super curious, see some sort of study about the the main reasons why people choose to take money out of their home if you're taking out like a small amount in order to perform a minor bathroom renovation or something like that, and then you've got this plan to pay IT off and twelve months or less, then I think you and I can sign off on that. We might say more power to you're using the hillock for what IT was made for. And guess what, you've got a bunch of equity in your home.

Cool using a little bit of IT to improve your home. It's not the worst thing in the world. But I think other folks are seeing dollar signs when they look at their house and they're taking money out because they can and because someone told them and in more good rates, they're not following like a whole lot of people expected them to and the rate on the he luck, it's not guarantee to drop the a lot of people say, oh, cool.

Are in this era now where interest rates are going to go down, but are they going to go down as much as a lot of people have predicted? Maybe, maybe not. And so we're still talking about paying like nine percent on money you borrows against her home. So in our estimation, almost all the time, it's Better to hold off and save up, save up the cash. A and you mentioned .

like doing a small bathroom renovation. And I think a lot of folks might be thinking, oh, but I can deduct them the interest that i'm paying towards that. But was IT last week that the I rely just released the the new numbers for next year, star deduction on up a thirty thousand for married couples, fifty thousand for a single fields. That's a really high bar. And so I think the fact that like that in the back of a lot of people's minds, but the fact is I think fewer and fewer folks are going to be ized their tax, atomized the deductions as opposed to take the standard.

But what they got, a lot of people see that and they say all that's one more reason to take money out of my home. And it's not because for most people don't qualify with that .

induction this point. Well, what we're talking about is guess more folks want these days when they get married, that's right. The house instead of a big wish list of items that might go in their home, they would rather have a downpayment donation for the actual home instead that not everyone heard of the marriage websites, flash magazine, the not found that the share couples, including a home fund on the registry, has increased ty two percent since twenty eighteen. Well, which person mean I think this is awesome to cash. See you to give recipient, they can do whatever they want with that money, whether is to put towards a dumpling for a home or to get something else.

The old actually doing .

the asian way as well. You get the red envelope. There's something about what is late, and I know is incredible.

I love IT, but I think there are still going to be a lot of other folks out there who are gona feel that is slightly uncool to ask for cash donations as our cash gifts vers and item, something which is not like there's a whole lot of thought that went into IT, right? Because if you make a registry, it's like you aren't being farfalla. He does bothers thing for me instead also like didn't hear round about things that we do here.

Design by something I know you want is because you told me. So if you told me that you want a cash for the downed aper for the house, cool. I yeah. Says me some times, some haste. Le and IT also allows me to give you the thing you actually.

really, truly want. Did you get a whole .

lot of guess when you get married? Oh.

remember spending all that time going back to the bath and beyond making the return and actually getting the things that you needed or or .

want to because we didn't want to be like ungraded weirdos who asked for cash on. And so am so glad that this cultural element is changing because you should be able to ask for that.

And I would like to give you that, do you have any items from that you received as wedding gifts .

that you still use today or still have a reset pot for sure? best. I'm sure there are other things. I'm sure we have other pots and pains and maybe these great state gives that like french tech nives that came from a create barrel and right, very cool.

The one thing I can think that we register formers like I can't believe were registering for like one hundred and fifty dollar trash can, but we did and got to force. We literally use IT every day. Nice, simple human know, like this thing, this new foot Operated.

I'm like, is this thing ever gona break? I like, I don't think there is many things. There are many things out there that they make a solid as they made that trash can. I can't wait to have my kids come home married. Is the is this the same trash in way where your kids, indeed children, IT is?

I love that that remind you of your wedding day track in the kitchen.

I remember registered for M B. Like I can't believe. Like because you can .

buy a practical man.

a ten dollar rubber made trash game. But we're like you. I don't want to see the garbage ini more. I'm about to be a married man. I'm not living in that bati .

adult look I .

what yeah exactly.

Let's keep talking about real state. The real state data firm, core logic says that most homo ders don't have enough homeowner insurance. And if there's anything, we've learned math from the devastating storms in the south east recently in some of our favorite towns close by, is to check your insurance policy, to make sure you have enough coverage and to make sure that you have the right kind of coverage to the cost of building materials and labor have reason significantly, which means now is a great time to double check your coverage, make sure you have what's known as replacement cost coverage, which could be actually more than the actual value of your home.

Because the cost to rebuild your home could be more than what zero you mention the estimate that could be more than what this estimate, right? Increasing your coverage could raise your premiums. Yes, IT could cost more to have that insurance now, but it's crucial to budget for that because the whole point of insurance is to be covered in case something catastrophe hic happens. And so you want to make sure you actually have enough coverage trying to get the absolute lowest Price could be cheap.

not frugal. That's right. So on the flip side of the insurance discussion, joe, talk about car insurance teens, they are more reduced to get their driver's license these days than in decades past.

Personally, that kind of bombs me out, less taking that whole thing. But IT actually might be a good thing for their parents, at least from a financial perspective. Friend of the show ran labor. He's been writing in the times regularly about how much it's costing families to ensure their fleet of vehicles, which there is the first problem veh les of vehicles.

And he thought with some families that have like three, four kids who are paying twenty thousand dollars a year for current alone sense to which is mind, like my body went, he's paying twelve thousand a year. And I thought that that was nuts. That is, they are in a similar situation where y've got a bunch of vehicles and a bunch of drivers run himself.

He's been trying to shop his plan to save money, but even still to no avail. But so what is that that you can do out there? Well, ask about good, great discounts.

some of your child, a good student, uh, and specifically.

these are some pointers to have kids, but any other discounts that might be available, we want you to leave no stone unturned, but then have your kid participate in the cost, especially if they get a ticket point out of like these are things that they don't necessarily know and there's they're just kind of thinking about the things that matter to them for grand, exactly that they care about. But if you're like, hey, by the way, if you ever get a ticket that's coming out of your bank account life, I think that right like that alone can help to drive a little bit more cautious ously. I've even noticed even like when i'm driving, like i'm taking the kids to school, those look up ahead and seed like the light they know getting ready to turn yellow and saw the way go go, go go because they like in this school early like see their friends and not and like, no, i'm realizing like we have to start setting a Better example or I do is like now and I mentioned that the case she's like actually is good for them to to see us like not constantly told the line but it's reminded that they learnt from seeing how we drive as well, but eat again for IT to also be a topic of conversation as well. And for if you get teaming teenage drivers, for them to know that, like, hey, you're gonna on the hook if if you get speeding ticket, i'm moving violation 是 my neck。

I just turned sixteen and he is in that crowd who's less interested in driving. So he's been holding off. And I know my sister and brother law have actually I think that you'd be fine with him going here and get the license and moving on with driving and take himselve places.

But at the same time, the cost is real and significant. And so they have, I think, the quote that I know how much more is going to cost there and themselves a little bit. I take your time. So we have a you don't have to get your license anytime soon because IT is so much more expensive that a teen to your policy.

So this is brain territory for us. But pretty much like once you have a license teenager, you have add them to the plan. And pretty sure in most states, which means by default, like you are automatically going to see your premium skyrocket, I think i'm going to certainly encourage them to get their permit, but maybe we don't ever get their light, not ever. And i'm going to make them drive all the time when i'm going to. Is this regular or depends .

on how much going to cost in if they want to protect the cost in.

how long can you hang on to just the drivers permit where they're just learning how to drive as opposed to them being a fully fledge independent driver where we have to add them to the onto the plane? right?

She's crazy head. When you look at kind of what happened with inflation over the past few years, car insurance is one of the scariest parts of what happened on that front. I know it's freaking out a lot of people and using a lot of budget.

Let's talking about black friday, man. Black friday continues to evolve. It's no longer a day is so long for the day after thanksgiving. Now is this season. It's an extended period of time where different retailers are offering sales and discounts.

So yeah, you don't have the will wake up at five and any longer to get the terrific deal on a flat screen TV or computer or something like that, which I I think it's good in some ways in bad and others. You're walmer just announced that is going to have three distinct phases of black friday. We won't over the specifics because IT vary depending on whether not you're shopping online or in store, whether not your walmart plus member, they will have access to um extra deals that others will not.

The best dealers are going to start to around november eleventh. So most of all, weeks in front thanksgiving, we're talking about a few weeks in front thanksgiving. This is, I think, a call to pay attention to sales to keep an eye on Prices so that you're not overspending.

You might find that you can get a refund if the Price goes down after the fact, by the way, if you're still paying attention to Prices and what's happening with them. But also be careful because you can easily overspend. Yeah kind of feels like .

a slippery slope because when you started looking at the deals, you start thinking what I need that yeah, you know and more than anything else, I think what we would encourage foxes that try to consume less, chAllenge ourself to find other ways of spending your money.

And if there's a couple things you actually want, you can do, like a deal or in a website like sick deals. So if you know the exact im put IT in there and then they'll notify you when the Price drops. So the you're not like constantly looking improving attempted device.

I've never set up these parameters, these filters before institutions that might have to get that a shot. So if you are going to get out there and you know you're looking for something specific, let's talk about comparing the best Prices between different retailers. One of walmart s biggest competitors is amazon and kiplinger.

They just wrote an article about which of the two, which of the man with retailers is more affordable and IT turns out the aim zon, they win most of the time, although so so keep that mind aims on they win most of the time. But Prices are the exact same. The vast majority, seventy percent of the time, the Prices are basically the same. But this is just another reminder to Price check. If if you do know that you're going to buy something, at the very least, check with one of the other major retailer or .

they're often like Price matching each other. So like hiller say over here, all these other stories are gna jump in and china off for the same Price.

Yeah, you mention slink. Don't forget using different extensions in sites like honey or co co camel. If is other ways to put the similar Price sellers? Or just to look back at the Price history of certain items, the ability to look at not just the mr.

R, P, but what the actual Price of that item was because yeah, maybe the deal. no. But actually last week I was IT was an even Better deal. You just missed out. You just need to wait a few more weeks for the drop back there.

A lot of marketing, a lot of cloudy ness in the Prices these days, especially online. So that will help kind of cut through the B, S, I guess, so that you can actually know, well, is this a deal? Isn't not check in the previous Price history helps a lot.

but chances are we proudly need less stuff just overall. Don't we know? We do. I do. I'm that mean we are trying to spend so much more, not trying to spend more when we are looking to spend like I we're looking ahead of the holidays like we are. We've already purchase tickets because we're gonna focus on trying to do more experiences with the kids as opposed to just fill in the house with stuff that were just why did we why did we set ourselves up for this?

And then the rooms are an awful mess. And yeah and kids are like, where is my he said .

that the failure as well because they just like a because then they can keep up with stuff and can't clean the rooms right?

Just do for that, you will put links to some myself. We mentioned up in the shernoff on our website at how to money dot com. But until next time, best friends out, best .

friends out.