Welcome to How the Money. I'm Joel, I'm not Today we're talking tariff turmoil, winning so much and border hopping for bargains. You know, buddy, this is our Friday flight. We hope everyone has had a wonderful week so.
Far, and we are in fact going to get to the top headlines the personal finance news that you can use.
Charlie Sheen is the patron saint of this episode. Winning when that is thing, winning.
So hard, when they're like Tiger Tiger's milker.
He did a lot of crazy stuff in his day, as detailed in his memoir that you can read. Okay, real quick, Matt and I will not belabor the point, but the We've got a lot of emails about and comments in the Facebook group about my unwillingness or distaste for paying Apple for storage space right for photos essentially. And somebody wrote into to us and one of their suggestions was like, wait a second, you have Amazon Prime. Amazon Prime has free photo storage.
Dude, And I was like, oh, oh, who knew that? Yeah, that's right. I totally I totally forgot. That was totally off my radar. You know, you know why we don't know that is because the Amazon Prime ecosystem is so complicated and there are so many different options that's not streamlined,
it's not intuitive, and so it doesn't surprise me. There's probably a whole host of features, features that we have available to us that we're not taking advantage of it because I haven't clicked onto that secondary nay Tertiary's sub menu, dropped down hine option that's available. It is.
It's one of those things I work because I think you said you spend ten bucks a month on storage right with with with Apple, And I was like, oh, man, ten bucks, that's one hundred twenty bucks a year. That's like not too far off the price of literally just Prime. And I talked about maybe just maybe ditching Prime.
Do I want to?
Will I with this added perk and taking advantage of it, It seems like that makes Prime feel like it's even more Do you know worth the expense?
Right? Do you know the details of the photostors as the quantity onlimited photos? Okay, only up to ten gigs worth of video, so photos just got go to my heart's content videos though there's a limit. Yeah, do you know how many videos you have? Do you take it a whole lot of bit I uploaded all my stuff to eat it. Oh yeah, oh yeah, I took advantage and it had a little gauge to tell you how much space you had left.
At one point it was like, say, you can't upload any more videos, so definitely have more than ten gigs or the videos. So I I don't know what I'm gonna do about that. Maybe I going and delete something that I don't care about, go to the video. Yeah, but at least at least all the photos you upload those videos.
To snapfish or whatever it was that you were looking at. Maybe that's a good point.
Yeah, So maybe I can like patch work this together and uh and save money. And Aaron, by the way, email about that, And got another email from listener Shannon who is trying something called pea Cloud. And I just want to mention this because I love this sort of model. It's you pay once and you get it for life. You pay more, a lot more, because it's like four hundred dollars for two hundred gigs for life or something like that. The only potential downside is what if pea
cloud fails? Right, And this is the case for a lot of service for life companies. You're like, oh great, I never have to pay for this again, right, and I love that idea. But if the company fails, you're got a lot of money. Sorry, out of luck, but at least I've got a decent solution for now.
Well then on top of that, too, less likely that you have to run out and pick something up because you can order something on Prime and have it show up later in the afternoon. Press dude, let's talk about the Supreme Court ruling. This is one that came out actually last Friday, after we had published our Friday Flight. But in a six' to three, ruling The Supreme court said that the president's tariff policy is. Unconstitutional and why
they said that was the, case it's pretty. Crucial so the president can't use the i e. E. P a to justify. Tariffs, essentially the dealing out and the reeling in of terrorists from a single individual exceeds the power of the executive. Office so you might be, thinking, all, right, well who? Terrorists they are no more all thanks to The Supreme. Court right quite. Yeah he immediately was, like, uh, Nope we're gonna do terroists this way. Now so he's sticking to his guns and by.
The way you CUT I E E P a iepah is what people call IT, aipa The International Emergency Economic Powers.
Act yeah, yeah in case you're like a nerd and you want to, KNOW i want to dive into the. Policy but he's essentially justifying the tariffs now by other potentially legal or potentially illegal. Means but, like it makes me think Of President biden's attempts to bring about student loan forgiveness, right very, similar where he's just, Like i'm pretty sure this is, unconstitutional but we're gonna we're gonna
go for it, anyway figure it out. Later And President trump he's trying to do the same with terras via other legal, maneuvers so terras will likely be forced to be less. Capricious, Right, Like as to why it is that whimsicle makes it sound, Fun, yeah like creative and fantastical as opposed to emotional knee jerk, reaction which is, like it seems like it's based more on whether or not you received a gold bar from a country as
to your. Teriff for it seems more likely that you are going to receive less terrorists placed in your country where you to award The Nobel Peace, prize for, instance these are this is the kind.
Of reasons given for implementing.
Terrorists don't love that kind of, policy. MAN i will say the current terrafts that have been stated they have an expiration. DAY i think it's one hundred and fifty, days and so in order for those to. Continue it is interesting Because congress is actually going to be forced to act to actually make this a part of, legislation as opposed to them being able to sit back and have the tar ers essentially go. On and definitely it's sort of the shoes on the other.
FOOT i know you missed talking about, tariffs SO i know you're thrilled to be able to talk about it.
Today, again it's a little frustrating because do people truly feel the impact of tariffs is tough to, know, right given more prices and all the factors that go into higher PRICE i think when you're.
Talking about most of the people listening and what they pay at the, store it's been less felt than some economists had. Predicted but when you hear the stories of individual small business owners who are confronted with spectacular tariffs that they hadn't planned, for that's where you, see oh my, gosh this is a real problem for a not insignificant number of. People and it's easier for the costcos of this world to endure tariffs than it is for those
small business. Owners and by the, way the headline of the most Recent Reason roundtable podcast Was trump replaces old illegal tariffs with new illegal, tariffs AND i JUST i love that BECAUSE i think it gets to the heart of the. Matter but, yeah that's pretty dating accurate ambiguity ambiguity of tariff. Policy it just it's a it's a source of anxiety and frustration for businesses right when they're attempting to, plan and so that is at the HEART
i think of the problem of these. TARIFFS i think if we had some sort of like congressional implementation of tariffs that that was clear, cut understood and long, lasting then people would be a little bit less frustrated by.
It but you're, right it's the capricious, nature the ever changing reality of tariff policy that really frustrated a lot of small business, owners that made it hard to plan and in fact put some small businesses either out of business or behind the eight ball when it came to moving their business, forward made it almost impossible to plan, for which is a frustrating.
Thing, well speaking of behind a, ball it seems like it's the magic eight ball That trump is using to decide whether or not.
Sure it's all signs, yes, yeah, yeah. Okay so what's going to happen? Now when a bunch of businesses of filed lawsuits about getting refunds for tariff it's probably not going to proceed, Smoothly and The Supreme court kind of, said we're not really weigh in on. That we'll let the lower courts handle that. Stuff so we'll see how the refund process plays. Out my guess, Is matt will we'll keep talking about tariffs sadly for months to, come hopefully just not on the.
Rig so going back to kind of what we're saying, before it makes sense that we should be talking about terrorists because of the fact that that they impact the, Economy but at the same, time the way that they are being implemented makes me like it's just giving more attention to the spectacle of our current day, politics which is the part of it THAT i hate so. Much it makes me think of The state of The union, address which were you excited to tune in to that
BECAUSE i caught the highlights or low. Lights, however you THINK i didn't even do. THAT i, mean, WELL i guess listening to news wrap ups and stuff like, that folks were highlighting the different aspects of.
It BUT i had to hear's some of the economic proposals and thoughts just BECAUSE i feel, like which we've got to cover.
That, yeah we definitely need to mention. That BUT i would rather us do away with The state of The union because it is just the performative politics nature of what our politics.
Is.
Man this is like totally the politics segment portion of the podcast, today of the. Show but it makes me think about like even The senate hearings that we, have where it's just a lot of people yelling and pointing fingers and it's like an episode of Like Real housewives or something in the cats there pointing out the lady as. Well that's what it feels. Like that part of IT i hate so. Much even though there were some interesting things that That trump mentioned during The state of The, union.
Well he said we're winning so much like his the way he touts what's happening in the economy is through a, filter and the filter is and, GOSH i again trying not to get too political. Here WHEN i took office In, january everything turned around And America's america is great.
Again that's what executives do at The state of The, union right every every stinking. Year that's WHY i hate it so, much because it's just them touting their own their own quote unquote. Wins you talked about, how like How, Biden President biden attempted to treat student low and forgiveness is very similar to How President trump is has treated
and attempted to implement. TARIFFS i think that's, true AND i think the same is true for both of these presidents in terms of how they're trying to spin what's happening in the. Economy both are, LIKE i don't what are you talking? About everything's?
Great, Yeah and the when you actually step back and look from a macro, perspective there are a lot of things to be excited about in terms of our. Economy, LIKE i don't think things are as bad as some of the political pundits want to make it, sound, agreed and it's.
Also not as good as others are also trying to make it.
So and also when people feel like things aren't, great you don't come in and Like jedi my trick and say what are you talking?
About?
Man things are, awesome and you're, like, oh, yeah you're. Right, no that's just not how it, works and people want to be understood in their. Frustration Is america as hot As cancel In? ZOOLANDER i don't think. So, LIKE i
just don't think that's. True but, again when you look at the progress post, pandemic progress in Particular matt of our country when it came to like Taming, inflacio when it comes to economic, growth and things are better In america than in almost any other part of the, club that's.
True, Okay so one thing that's worth highlighting That trump did mention is the matching retirement funds for individuals who don't have a four to ONE k at their. Work so starting next, year this is what's proposed that you are going to get a one thousand dollars match if
you contribute two thousand. Dollars there's not a whole lot of details given because obviously this is very, performative but evidently the account's going to be similar to THE, tsp The Thrift Savings, plan which federal employees are quite familiar with and this is going to be particularly helpful for the folks out there who are self, employed for folks who are working at jobs that don't offer retirement, accounts WHICH i, MAN i totally love this and WHETHER i
don't want to get overly excited about it, though because this is a proposal from the presidents and it seems like going back to The Supreme. Court one of the reasons that they cited for That trump wasn't able to do this was because in The, Constitution article one talks about how it's in Fact congress's job to be able to levy TAXES i will say the control of the.
Purse it sounds like the methodology that he can use to implement this is from The Secure act right that was Implemented securect two point. Zero and if that's the, case then this really could come about with very little legal issue can.
Argue but how durable is It at the same, time that's a good question as opposed to being implemented in a more congressional legislative sort of.
Approach if it comes to, PASS i think it's a really exciting, development especially for like small business owners out. There like you talked about how when you ran your photography. Business you never had access to a match like. You it was all on your, back and so that's that's. Cool, OH i love the idea of.
It, yeah, ABSOLUTELY i just hope it comes about the right. Way, YEAH i don't want to downplay how huge this could be for. INDIVIDUALS a fifty percent match on two thousand dollars of retirement investing in retirement. Savings that's, massive, Man like that could be so huge for so Many. Americans for, That i'm really, excited and this is certainly something we'll keep an eye.
On the only downside is how does our how do we come up with the funds as a country to pay for. That i'll figure that out, later just adding it on to the national. DEBT i guess last thing that we should address From state of The union Is President trump also mentioned briefly the topic of Limiting congress's ability to trade individual. Stocks that's sure also something we can get. Behind we've been talking abouts for a long. Time it's how big of a difference is that going
to make for the Average? American not, much but it WILL i think at least create a sense that we that our congress people are not using information they get that we don't have access to to make money while they're in. Office totally, Agreeing all, right let's talk about housing. Map homeowners are most frustrated by maintenance, cost apparently in surprise repairs that they have to they have to pay
for these. DAYS a new report From hippo finds that one of the biggest financial concerns of home ownership along with rising home insurance costs right and property. Taxes those are two line items that Have you've probably seen your mortgage payment go up in the past few years because of those two. Things, well it's the increased cost of taking care of your. Home that's another big thing that people are feeling overwhelmed. By and this REVEALS i think
a few. Things, one home ownership not. Cheap along with you, know higher monthly payments higher than what you're paying to, rent you're also signing up for bigger one time. Expenses it's crucial obviously to budget for potential issues that could arise as a. Homeowner the average rule OF Thumbi we've outlined this in the past is to have something like one to two percent of your home, value your home's value set aside every single year for things you have to do to repair your.
House.
MATT i think, like let's say your home is worth eight hundred thousand dollars right then you're talking about having between eight and sixteen thousand dollars set up side for things you need to do to your. Home do you think that's excessive or do you think that that.
Probably pretty thing?
Accurate But i'm guessing that's not what most folks are, doing. Agreed and it just really depends too on the status of your home because one to two percent that's like a big. Gap take a look in particular at the at the main systems of your, home your your roof and YOUR. Hvac those are two big, things like how how long has it been since those have been? Replaced if if it hasn't been, long then you could probably
stick to closer to one percent of your home's. Value but if you're, like oh, god it was getting pretty up there in age pass roof can be that can take your whole budget for that one year in terms of in terms of your. Home but it's crucial to set money aside for those expenses and to factor that into on the front end when you're thinking about buying a home or or you can start figuring some of that out.
Yourself, yes we talked about, this, okay so we talked about the coffee bar On. Monday. Right here's a new wrinkle which AND i are already shared this with you a little, bit so this is more for the listeners out. There but evidently there is a upstairs bathroom drain line goes through one of the walls of the coffee, bar and, EVIDENTLY i think for at least four or five, years it's been leaking some down in the, basement not like, terribly but you can see where it's gotten wet and,
dried and it's crusty and. Gross and what a great time to go ahead and bust open that wall and make sure that the leak isn't originating within the wall as opposed to right as the pipe passes through the cross. Space and with the knowledge and Experience i've gained over the past nine months when it comes to, PLUMBING i had very little to worry. About, WELL i don't know that sounds. RECKLESS i felt empowered to be able to take that project on, myself and so SOMETHING i was
able to knock out last. Weekend it's also cut into a three inch, waistline got some fresh WHITE, pbc ran that through the, floor got it all plumbed, up good to. Go dot was back to shower before she even knew. It she didn't miss.
It this isarly like when you think about the major costs of these home, produces it's labor, Right, LIKE i don't Even, yeah it wasn't as much the case a decade. AGO i think it was closer to fifty to, fifty but NOW i think it's siler's hourly.
Rate it's.
Insane it's like it's at least sixty five to thirty five in terms of labor versus the. Materials and so the more you can take on or do, yourself especially those smaller projects that can help lead to bigger projects that will at least reduce how much you need to have saved if you feel like you can tackle those projects on your.
Own it makes me think of an attorney friend of, ours and he owns some properties as, well and he always hates painting plumbers because he's just, like their hourly rate is more than WHAT i get. Paid he's, Like i'm gonna start being a. Plumber but with these high prices of, homes this is why more Young americans are
finding themselves being content to. Rent and it's not that folks don't think that they're that they're ever going to be able to buy a, home ALTHOUGH i think that might be part of, It but it's also because they've been investing more and with that they have seen their wealth increase, significantly and as monthly remains a good bit cheaper than, buying folks are starting to even just question the entire premise of purchasing a home right like it
used to be the sort of default sort of thing of, like, oh, yep you're throwing money away if you're, renting you need to buy a, Home but it all comes down to what you are doing with those funds. Instead and as more folks are sticking money into the, market and they're seeing that those dollars increase faster than, housing and that's
what YOU i, Mean this isn't just a recent. Phenomena you look back over the data from the past hundred, Years the average amount of home equity increases that folks have seen have not kept up with what the market has done over the long. Haul so that's the biggest trick, THOUGH i, think is whether or not folks will actually do that with that. Money but the people who, are but the folks who are are seeing their wealth increase.
Significantly and it also doesn't surprise. Me we were just talking about the potentially new retirement government, sponsored government backed match with A tsp like retirement. Plan but the majority Of americans who are working full time have access to a four to ONE, k and so it doesn't surprise
me that we're seeing more folks enter into the. Workforce and all of the new four ONE k plans have to auto enroll their, employees and so you've got this entire generation of folks who are getting they got that stealth. Wealth they don't even realize it until they sit down at the end of the year and they're, LIKE, whoa
where did that come? From, yeah that's. Awesome and they feel less of that pressure where to purchase a, home whereas previous generations maybe they had fatter deposits every two weeks in their account that you, know they're bringing their take thems a little bit more because they're not sitting money aside in A fourmu AND k and therefore they're using more of those funds to purchase a. Home Right and like we've talked about trade. Off so much to
happen depends on what's happening in the. Market because if you're talking about twenty eleven twenty, twelve and someone's sending in an ASK htm and they're, like SHOULD i buy a, house, like we would, say, wow rates are pretty dang. Low prices are incredibly. Low think about you're probably going to be paying less on your mortgage in which you and. Rent buying a house has there's a lot of perks
to buying a house right twenty. Eleven in twenty twenty, six the script is flipped and it's so much from, yes for sure to rent than it is to. Buy and you're, like, oh IF i could rent or, yeah rent the place for two grand THAT i would pay a, MORTGAGE i would be paying like four. Grand that's two thousand extra dollars a. Month and by the, WAY i don't think it's a ridiculous. Assertion given where home prices and interest rates are right, now you can probably rent
something for significantly. Less that's very.
Similar and if How i'm investing that, difference you can get ahead really quickly and guess what you can be investing for the possibility of future home ownership instead of kind of trying to like force force a square peg into a round.
Hole right, now there you. Go, yeah you're actually building up a down. Payment, yeah that you can deploy once you have have enough funds on.
HAND i do feel LIKE i should talk out of both sides of my, Mouth, matt because on the flip.
Side that's one of your. Specialties it is it. Is, YEAH i like the. Dedication it's what we. Do there's a lot of nuance when it comes to personal. Finance so hous.
More is starting to slow. Down it's not like a twenty twenty, four right or twenty twenty three. Anymore, yeah well rates have come down a little bit. Racer so that's up finally sub six percent on average and.
Five point nine eight and yeah was this week's.
Average AND i went back to the local our local credit union's website to look at their fifteen to fifteen. Arm the rate on that is. Down it's IT'S i think directly at five percent right. NOW i wouldn't be surprised if it's in the four something range in the near. Future that's pretty that's pretty. Great so people who are like and we're seeing write more price reductions because there's
just the market in general is. Softer so, yeah maybe if you're patient and you're smart and you've saved, up you can get a better deal than you've been able to get in recent. Years this spring selling, SEASON i don't.
Know that's. UH i thought it was gonna happen last. SPRING i remember selling the folks that'd be, LIKE i really think we're gonna see rates tick down and things eat, Up but it didn't. Happen, YEAH i think when you're, Starting i'm done making.
Predictions starting to c rates in the low fives and high, fours that's a signal that's going to soften the market a little, bit and it's going to MAKE i think selling and buying something else more attractive to a certain segment of, people and just buying in, general first time home buyers maybe a little less frustrating or.
Onerous that's, right, Man but we've got more to get. To we're gonna talk about eating steak and other foods that and more weighs of. Save right after this.
Power back from the, break it's time the ludicrous headline of the. Week this one comes From Business insider and it reads Death isn't The? End meta patented IN ai that lets you keep posting from beyond the, grave, Right, yeah.
Just what everyone wanted was the ability for people on that they're friends with On facebook to be able to.
Troll THOUGH i, know right from the grave forever from the great, beyond.
Because it's so messed.
UP i can't, WELL i don't know who's gonna die, First mir or. You But i'm trying to decide what it would be like to read fake postings FROM, Ai, matt like when you're?
Dead, yeah WOULD i be, Like, OH i don't think there'd be much? There like this is, FREAKY i think BECAUSE i try not to post on. There, yeah because it's. DUE i, mean this is straight up an episode Of Black. Mirror, Yeah, like and that's what attracted me To Black mirror was sort of the, weird like twisted dystopian sort of part of. It but the really sad thing is that that is becoming a, reality which only just kind of makes me kind of sad about our current state and that are
so normal. Now, honestly it is LIKE i was pretty attracted to it early, on but now that we're kind of living, it, yeah, yeah not super thrilled with. It and just because there is A you know that they filed for a patent doesn't mean that that is actually going to be a feature that they roll.
OUTS i wouldn't be, surprised but maybe well here's WHY i wouldn't be, surprised but they might. One in the patent, filing it, says AND i, quote the language model may be used for simulating the user when the user is absent from the social networking, system for, example when the user takes say long, break or if the user is. Deceased and not only does it say that in the patent,
filing but we're kind of already seeing this play. Out So Scott, adams who did The dilbert comic, strip and he was also like a political personality in many ways, too that he passed away a couple of months ago and end AND ai is being used to create create post mortem videos of. Him so like his podcast, continues his video podcast. Apparently see that's so. Weird it's so it's so. Weird, yeah so. Dystopian and how the money could, Continue well that's without.
Us how it's difficult for me to not think through how does this what are the ramifications for? Us? Right because we have this wonderful company that has worked well with. Us iHeart iHeart. Media but here's the, Thing, joel they technically own how To, money and even though it's been a great, partnership let's just imagine the future where we don't want to do the. Show that's less. Likely what's more likely probably.
Is a future save, money like where we can't agree to the terms and they, say.
Well that's. Okay we've got over a thousand episodes that we technically own of our voice and us sharing our jokes and telling our. STORIES i think we can kind of keep that. Rolling that's a bleak that we're living our own living nightmare Of Black mirror podcast editions if that were to. Happen but we also know then that they wouldn't be able to run the guaranteed human part at the very beginning of the episode because at the point it wouldn't take that claim. Off, yeah, yeah we can do that.
Anywhere, well it's a little little, freaky little, Frightening AND i, MEAN i think we're just living in a time where just deep fakes are getting so much. BETTER ai scams are becoming even more, prevalent and they're becoming more convincing and so it's just don't believe everything you see, it do a fact, check like look, again because we're living in an era where even people can post stuff from beyond the grave and you're, like, OH i thought the
person was. DEAD i Guess i'll keep following. Them but it's it's just a it's a weird, world and protecting yourself becomes even more. Important, yeah, okay let me see IF i can pull this.
Off as money piles INTO, ai the system's powering these deep. Fakes some of the folks working in the field are making bank and the more money you, have the more you want to protect, it, which in the case of, marriage means getting a. Prenup do you like, that? Seguay, no what's? Good well, Done we've talked about.
Prenups, YEAH i could not have replicated. That oh, my, yeah, there human skills were a whole. Display there such a better.
Job we actually talked about prenups in depth back in episode seven forty. Three AND i don't have a. PRENUP i, DON'T i don't, know neither of us knew And emily WERE i And kate thing especially for people with.
Zero, dollars like when you AND i got, married there wasn't much to, Protect, like we hadn't built up significant. Assets you got married when you were twenty, three twenty, four twenty twenty. THREE i got married WHEN i was twenty, Six, like there wasn't a lot to. PROTECT i wasn't, like, OH i don't want my wife to have access to this treasure trail That i've Didn't there was no treasure.
Trove we built it. Together. Yeah, Yeah so this was an article highlighting folks who are just worth a ton of. Money now they're trying to move on and not move on in their, life but they're trying to build their, lives start a, family and they're talking about, prenups and IT'S i, mean do you feel that your, opinion BECAUSE i remember after that episode one of WHAT i recall your one of your takeaways being was, that you, KNOW
i didn't think that prenups made. Sense but the fact that the, state the fact that they have default rules essentially that they follow if you don't have a, prenup means depending on which state you're, in you have different prenup. Rules. Yeah so the fact that there is sort of like this default prenup depending that's basically state issued seemed like, IT i guess had more of an impact on. You but do you still feel that way? NOW i? DO i.
DO i think though that it's really. Crucial like when you're getting, married you're talking about combining right for, life like that is that's the. Goal even when you read your, vowels, like think about what you're saying when you read those vows it's it's not an insignificant commitment that you're. Making and SO i think because of, that it's just it's important to be generous and fair when you're creating a
prenup with your. Partner i've JUST i Think i've seen Other i've seen relationships at times blow up before you get to the altar because of the way the prenup process.
Goes, yeah that to me is like super duper. Sad so it's. Okay it's probably better then than actually getting married and finding out that they're, selfish, right because LIKE
i would even push it a step. Further you said to attempt to be, fair like you got to be more than, Fair like you have to be generous and, loving because that's what as you enter into a, marriage it is a like you put together two people who are selfish who only care about themselves into a marriage and there's just nothing but a road of brokenness that lies, ahead right as opposed to bringing together two people who are entering into this relationship and this institution knowing, that,
oh this is an area Where i'm going to, sacrifice WHERE I am going to put the other person, First like you need both people doing that in, order, Opinion, yeah to have a successful.
Marriage i've Heard i've heard friends say stuff, like, oh, man once my spouse pays off the rest of her, loans her student, loans that.
It feels off to, me, RIGHT i.
Just to, me that doesn't make sense and that's not how we handle. Money AND i think when you look at the statistics which we've talked about over the, years the happiest couples are the ones who kind of combine, everything even if one person makes substantially more than the, other just.
Come to terms with, that embrace, it find that you've got different. Strengths it's just it's so it's so weird to me that money is oftentimes such a focus here because money is this very, fungible renewable. Resource, essentially you can always like go out and get more moneybe not as much money as you currently have if you're AN ai overlord or something like, that but like as opposed to not thinking about the amount of time and like life energy that you're giving this, person which is not
something that you can ever get. Back and so if you are going to trust, somebody LIKE i don't, know it's My i'm old, SCHOOL i think you should probably trust them with. Everything, yeah and certainly your finances are a part of, that.
And your good fortune is their good, fortune and vice. Versa so let's talk about medical, Bills. Matt it's widely. Known everybody pretty much knows that the number one cause of bankruptcy is medical. Bills they're roughly a factor in two thirds of bankruptcy. Filings people have a significant amount of medical debt that they feel like they can't pay or they're just unable to. Pay a lot of folks would think it would make sense, intuitively, right that having
insurance coverage would prevent that. Possibility, Hey i've got good health insurance and so bankruptcy because of medical, bills that's not going to happen to. Me, well that might not be. True there's this new health affairs study and it finds that medical emergencies lead to bankruptcy more, often even if you're covered by a traditional health insurance, plan like even if you have a solid policy through your work through your,
employer because the average deductible has gone up. Meaningfully so if you're looking at let's say a bronze plan on the healthcare exchange on healthcare dot, gov the average deductible is like seven thousand dollars if you have one of those, plans not to, mention the premiums are already pretty rough for those. Two so you're working over a lot of money every, month and then, hey that unexpected medical bill, comes and even after like it's corrected via, insurance it
still might be unsurmountable for. You an unexpected medical event could mean thousands of dollars in just unexpected costs that hit you even when you have. Insurance and so we talk about. This the system. Sucks it's really it's a really difficult system to. Navigate but the stress here is that you need to have savings on hand to cover your. Deductible and if you increase your deductible to save more on a monthly, premium that can save money in the long,
run but it increases your need to have savings on. Hand. Now so this study just made me, think, oh even if you have great, insurance make sure that your emergency, fund that your savings include on top of whatever you need for potential, emergencies the money to cover a deductible that's like one of those emergencies that can come, along.
The very likely to come. Along. Yeah, Yeah and to put a point on, it the broken system isn't the fact that you have to have money on hand in order to pay your. Deductible and that's just that's those are the rules that you signed up. For you just need to make sure that you are adjusting your finances to accommodate for this new plan that you're. On but one of the solutions might be for if you're facing let's say a medical procedure is to move abroad for,
cheap cheaper health. Care it's not as ridiculous as it might. Sound depending on your health care, NEEDS i think it's at least worth considering a trip to have that procedure. Done maybe you don't necessarily need to move. Abroad so there is a in the article there profiling a woman who was PAYING i forget how. Much it is like something like thirty thousand dollars is what it was going to cost her, annually and so she moved To france
and it costs twelve times. Less that's something that you probably move, forward right like that significantly changes your your lifestyle plus but, yeah the bag atts, man that sounds like another reason to. Move why? Not it's. Funny, yeah we're talking with the kids literally about back, edges bagets and. Wine. Baby medical tourism is understandably on the, rise but largely out of. Necessity so we've got great health care here in our, country but far too many procedures are just
really expensive for a whole lot of. Folks, yeah if you can save fifty to seventy percent on a knee, replacement why would you not consider going abroad for? That or sixty to eighty percent on dental work by going To. Mexico these are real. Numbers maybe don't go To mexico right? Now oh, yeah, yeah avoid Where porto v our, Yeah parto where, yeah where the terrorism. Is but just doing research ahead of, time knowing the trade, offs know what
your total out of pocket costs are going to. Be that is going to be incredibly important in order for you to make this a financial. Winner one of my good, Friends, matt he has a really rare heart condition and so he's got to get this. Surgery and fortunately it doesn't have to happen right now right, now but he's planning
on doing it this. Summer and as he looked in and he was getting quotes on what it would cost, here even with, insurance how much it was going to set him back here to get the procedure done in The United, states it was very, costly so much, money very, Costly and he did his. Research he found there was there's a doctor In england that performs actually a better surgery that's less, invasive that you recover more quickly. From
it's going to cost him less. Money so he gets a little little trip out of this with his family and it's going to the recovery time is not going to be nearly as bad as not going to. Be to deal with what the savings, Was i'm assuming this is like a closest six figure kind of.
SURGERY i think it's something close to. There i'm sure with insurance it would have cost him a whole lot less than, that but even still going overseas WAS i think the price was probably, similar but he was, like, oh this is, superior And i'm going to get a trip out of.
It let's. Go so it.
Is it's one of those THINGS i, think when you look at what's happened with medical costs in our, country it's less ridiculous than ever before to think about traveling to get your medical work, done depending on what it.
Is, sure, yeah, Okay so a less extreme way to save money grocery shopping in a way that is more. STRATEGIC a Recent kiplinger article recommends not just creating a list and sticking to, it but seeing what you already have on, hand planning out your meals around what's in your, fridge what's in your. Pantry how that's going to be a recipe for saving, more which sounds like good old
fashioned meal. Planing. JOEL i wonder if like some people playing the meal but they just and then they go buy everything they, need but they're not thinking about what they already. Have, no you got to start with what you got out of. Home you got you have to take stock. Man and this is something THAT i am proud to say that we've been doing a good bit more of. Lately in, particular we've got a whole lot
of grant like. These kate will go to The International Farmer's market and buy some of these exotic grains and and it's really. Cool they're really, pretty they've got cool, names really high nutrition value in some of these. Things BECAUSE i don't know, WHY i don't know the colors or.
Something but it takes a little bit more. Work i'm not gonna pretend that it's just as easy to hit, default, Right, like there are certain meals that we know how to cook when we go to the grocery, store we buy those. Things we come, home and if it takes a little more creativity to cook the things that you already have at home and to use certain items in a different.
Way and so when it comes to like the like it's like you ride doll or something like it's like, THIS i don't even, know it's like some kind of beans like this. Earthy, okay maybe it's grain or. SOMETHING i don't. Know but we had some amazing stuffs an amazing curry earlier this. Week and it feels so good to utilize what you already have on. Hand it feels so good to not be wasteful and to feel like you are, adventurous exotic eater who's eating food from all
over the. World so at the same, time, yeah AND i love this.
Idea just you can implement it. Whenever just, hey look and see what you have in your, pantry your, freezer and, say how can we get rid of a bunch of this stuff by making meals with the we have on hand over the next, week week and a, Half and in, PARTICULAR i think the best time to do that is before you go on a.
TRIP i, well, DUDE i love. That it's such the week before were such a great game to.
Play it's, like no grocery run unless we need like bananas or milk and, eggs yeap, milk eggs and, bananas like those are the three THINGS i WILL i will make an exception. For other than, that it's, like, no we're just eating what we have on. Hand and then you come back and you make the grocery store, order then you go to the grocery run when when you. Return that's the best way to go about. It so if you got a trip coming, up this is a perfect time to reduce your pantry stock and eat what's
in your, freezer because, yeah it just feels so. Good it feels so good to come home and then. Replenish if you got steaks in your, freezer it's not nearly as. Painful i've Got i've got a still have some steaks on.
Hand, yeah BECAUSE i took advantage of the seventy five dollars off per the giant side Of ribby and cut my Own oh, yeah cut my own Rib, buys which was the.
Ultimate, well let's say this, Means, matt that you are essentially independently, wealthy because have you seen what's happening with stake? Prices they have gone up seventeen percent year over. Year, man well it's. Insane ground beef prices on the rise as, well and it, just, yeah depends on what you are.
PRIORITIZING i will, say, like we don't eat steake a, ton BUT i feel like IT'S i, mean we got the biggest slab because it was on, sale but typically we'll eat stake a couple of, times a couple times a. Month and last TIME i did go to the To costco looking for a nice, SALE i didn't see. Anything and so EVEN i think the ability to downgrade quote unquote downgrade and get like The costco organic ground. Beef you know it's got the three. Pack, yeah that's really good.
Stuff. Man the ability, like but it's still. Expensive it's still, expensive but it's not as. Expensive so figure out for. Us that was our, treat, right the ability to grill Some burger's last. Weekend the weather was a little bit. Nicer it was, fantastic, Man but finding out what the more affordable option is going to be for, you and how aggressively you're trying to attack your grocery.
Budget what's interesting to me, though is how as prices have kind of stayed, inflated have like continued to creep up on on ground ground beef and steak and red meat in, general consumers haven't really changed their, Ways like it seems like there. Hasn't they, haven't, Bunch they're, like all, Right i'm just gonna continue paying. This AND i don't know if it's because they're adjusting their budget, Accordingly, matt
and they're they're spending less in other. Areas but something's telling me that's probably not the case that they're just like sticking it on the credit, card, right and so that is that's what you want to, Avoid like if you're just used to buying steak and you're, like, oh the price keeps going, Up i'm gonna keep buying. It that's, okay,
right it to keep buying. It but just make sure you actually have the money and you can afford afford, it because, yeah when you're talking about eighteen twenty bucks a pound for like a, nice a decent, ribbi a Decent, Rabbi, matt that isn't even like a fancy. One just that's like a decent rabby these, days which is. INSANE i think it costs for choice these. Days, yeah just make sure you're not doing it.
Mindlessly, yeah and don't don't sleep on. FISH i saw that. Salmon there's been a dip in salmon prices because there's been a a glut In norwegian's salmon coming From. Norway. Good, Yeah i'll love me some, Salmon so go get you some of that and there you. Go it's also quite healthy for. You All.
Right that's gonna do it for this. Episode we'll put links in the show notes to some of the stuff we mentioned on the show, Today and as, always you can find more money saving help and information at how to money dot com and and the how To Money facebook.
Group yeah, boy that's gonna be, It so until next, time best friends, out best friends, out