Tech Tuesday & "How To Money" - podcast episode cover

Tech Tuesday & "How To Money"

Feb 18, 202534 min
--:--
--:--
Download Metacast podcast app
Listen to this episode in Metacast mobile app
Don't just listen to podcasts. Learn from them with transcripts, summaries, and chapters for every episode. Skim, search, and bookmark insights. Learn more

Episode description

White House Correspondent Jon Decker dives into the fascinating world of DOGE and reveals some eye-opening insights about taxpayer data! Get ready for an engaging discussion that explores the intersection of fiscal responsibility! ABC News reporter Chris Boccia dives into the intriguing details of Witkoff's recent meeting with MBS in Riyadh, uncovering the significance of their discussions and what it could mean for the future. ABC News tech reporter Mike Dobuski discusses the "Tesla Takedown" movement and the Apple event. Joel Larsgaard, host of "How To Money," discusses the true cost of self-sufficiency endeavors.

Transcript

Speaker 1

You're listening to KFI AM six forty wake Up Call with me Amy King on demand on the iHeartRadio.

Speaker 2

App KFI and KOST HD two Los Angeles, Orange County. It's time for your morning wake up call. Here's Amy Ki.

Speaker 3

Good morning, five o'clock. Straight up.

Speaker 1

This is your wake up call for Tuesday, February eighteenth.

Speaker 3

I'm Amy King.

Speaker 1

We're live everywhere on the iHeartRadio app. Glad you're getting your day started with us. I got good news to start your day. It is Drink Wine Day. I'll be celebrating that a little bit later, maybe not just now, might be a little bit early, but later. Here's what's ahead on wake up call. Phones are banned at LA schools starting today. The ban on cell phones was past last June. It goes into effect today. Some classes are

going to enforce it on the honor system. Others will actually take the phones away and lock them up during class. Officials say it's being done to get kids to focus on studies and to combat cyberbullying. A home that survived the Palisades fire last month has now been covered in mud. The seventy year old woman who owns the home says

mud came into her house from every direction. Last week during heavy rains, she says she couldn't get out of her house for two days, and added that other people's trash cans and porta potties even washed onto her driveway. A federal judge is expected to rule today on a lawsuit filed by fourteen states against the Department of Government Efficiency, or DOGE. The states are asking for a temporary restraining order that would block DOGE from firing employees and gaining

access to sensitive records. Speaking of those sensitive records, DOGE is trying to get access to IRS information, and we're going to be talking more about that with kfi's White House correspondent John Decker.

Speaker 3

That's coming up in just a couple of minutes.

Speaker 1

Also, we are going to take a trip over to Saudi Arabia with ABC's Chris Baccia talk about what Marco Rubio and others are going to be talking or have been talking about with Russian officials. Today. Southwest Airlines is making some cuts. We're going to be talking with Bloomberg's Dan Schwartzman, and also How to Money with the host of actually How to Money, with Joel Larsgard. He is

the host of how to Money here on KFI. He's got lots of great information for us today on including how a great attitude can actually help you save more money.

Speaker 3

We'll check into that.

Speaker 1

And we have tickets to see our EESPEC t a celebration of the music of Aretha Franklin. It's coming to the Cerritos Center for the Performing Arts this Friday night. We've got five pair of tickets to give away sometime during wake up call, so keep your phones close. Let's get started with some of the stories coming out of the KFI twenty four hour newsroom. Riverside County Sheriff Chad Bianco has officially entered the twenty twenty six race for

governor in California. He says public safety is a top priority, but it's not the only issue that needs to be addressed in the state.

Speaker 4

We have a failed school system, we have failed water policy, we have failed agricultural policy that is simply just sailing Californians.

Speaker 3

Bianco's a Republican. He says the passage of Prop.

Speaker 1

Thirty six last year shows that a lot of voters in California want to see change. At ballot measure toughened penalties for some crimes in the state. The La City Council is expected to make a final decision today on a proposal to offer eviction protections to Nanni's gardeners and

others affected financially by the wildfires. Last week, the council couldn't advance a list of recommendations that would have prohibited eviction for non payment of rent and no fault evictions for renters who could show proof of economic hardships as a result of the fires. Protesters say they're making their feelings known during demonstrations against the Trump administration. Hundreds of people rallied in La and Long Beach yesterday as part

of protests held across the United States. This woman says she's a nurse who works in child healthcare, and they're already seeing signs of government cutbacks.

Speaker 5

I've already started to affects them, and it's just going to affect them more some more that we see what's happening, and it's terrifying.

Speaker 1

The not My President protests were organized by what's called fifty to fifty one Movement, which planned demonstrations in all fifty states.

Speaker 3

Can you hear me now?

Speaker 4

Well?

Speaker 3

In the La School district.

Speaker 1

The answer is no, as a new policy goes into effects no cell phones.

Speaker 6

The ban on mobile devices is for use in classrooms. The district's board passed the ban last June in an effort to help kids focus on their studies and to over the increase in cyber bullying. The policy allows for some exceptions, including students who need phones for translation purposes or learning disabilities. In September last year, Governor Gavin Newsom signed AB thirty two sixteen, the Phone Free School Act, which requires every school district to develop a policy limiting

the use of smartphones. By July one, twenty twenty six. Andrew Caravella, KFI News.

Speaker 1

Let's say good morning now to kfi's White House correspondent John Decker. John, the Department of Government Efficiencies trying to get access to personal taxpayer data from the IRS.

Speaker 3

What are they looking for and is it going to happen?

Speaker 7

Yeah, great questions, And I have not confirmed that's exactly what's happening over at the Internal Revenue Service, but let's assume it's happening. I don't know what they're looking for. Obviously, their big task as it relates to all of the efforts going into these various departments and agencies, is to find waste or fraud or abuse at these various government agencies.

You know, Amy, there was a really important hearing that was held in a federal courtroom here in Washington yesterday, an emergency hearing because of the fact that of course it was President's Day, and Judge Tanya chuck In he had this hearing based upon a lawsuit file by thirteen state attorneys general. They are challenging the authority of the Department of Government Efficiency, and in the hearing she seemed really skeptical in terms of going along with what they want,

which is a temporary restraining order on DOGE. She will likely issue her ruling today, and however she rules, it will likely be appealed to the DC's Circuit Court of Appeals, and ultimately may be decided by the US Supreme Court in terms of the authority of DOGE to go into these various departments and agencies and in some cases issued pink slips to workers federal workers working at those departments and agencies.

Speaker 1

Okay, so you mentioned that the judge yesterday who's being asked to make a ruling on the lawsuit asking for a temporary restraining order that she seemed skeptical. Did she say why she seemed skeptical of what DOJ's doing or skeptical of the lawsuit filed by the states.

Speaker 7

She seems very skeptical. She was not sympathetic to the arguments being put forward by these Democratic state attorneys general. She did not seem to agree with them that there was any illegality that has been committed by the so called Department of Government Efficiency. They are essentially a government consultant. They make recommendations and it's up to those in power

as to whether or not they accept those recommendations. And Judge Tanya chuck And does not see anything wrong with that, at least based upon the questions that she was asking lawyers representing both the government as well as lawyers representing those thirteen Democratic state attorney general.

Speaker 1

Okay, and then the temporary restraining order that they're asking for. There are they saying ultimately they want to shut it down or that they just want it to be put on pause so everybody can dig into what actually.

Speaker 3

Is being done.

Speaker 7

Well, I think it's the latter. But what they want is a permanent injunction. Ultimately, that's what those. Yeah, I mean it's it's temporary because you still have to hear arguments based upon what it is that they're arguing, and that would be the reason for issuing that tro And then what is their ultimate goal, a permanent injunction to prevent the Department of Government Efficiency Elon Musk's team from going into these various federal government departments and agencies issuing

pink slips. And to me, in just base, it's one judge, it's one judge in a long process. But this is remember the same judge that actually presided over for Donald Trump's election interference case before it was dismissed by the special counsel.

Speaker 6

She.

Speaker 7

You know, I don't think she can be painted with any broad brush in terms of being liberal or conservative, but based upon the arguments being put forward yesterday by these thirteen Democratic state attorneys general, she was not sympathetic to their arguments, which seems to me to indicate that she is unlikely to issue a temporary restraining order when she comes back with her ruling.

Speaker 1

Okay, and we're expecting that today. Then, John, I had another question for you. Of course, we're talking to White House correspondent John Decker everyone's hair is kind of on fire. The DOZE is trying to get into the IRS, and they're saying they could get DOGE could get personal information. I mean, do people think that they're going to start going line by line and look at what you made

and what this millionaire made and what I made? I mean, like, what's the concern with DOGE looking into the IRS and whether they need to streamline things?

Speaker 7

Well, the only individuals that should be able to view that information and tell me if you disagree with me, amy, you know, are people that are authorized to do so at the Internal Revenue Service. You don't open that up to consultants. And I think that's the concern that people have if indeed that's what DOGE is doing or trying to do. You know, that information is private. In fact, think about you know, just the fact of looking at Donald Trump's tax returns. That is something that ultimately did

happen in the last Congress. But you know that was because of a law that has been passed that allowed the chairman of the Senate Finance Committee and the House Ways and Means Committee to look at that information. But in any case as it relates to individual taxpayers not named Donald Trump. I think that there's just an overall concern about the privacy rights of taxpayers when they submit

that information. I don't think anybody is thinking someday that some individual not connected to the government or as a tenuous connection to the government as a consultant, should be able to see their individual tax returns.

Speaker 1

But is there indication that that's what they're trying to do at this point, because aren't they going in to look for waste? And waste isn't looking at individual tax returns.

Speaker 6

Waste is looking for Well, that's right.

Speaker 7

Think about what I said at the very beginning of this part of the conversation, and that is I haven't seen anything that confirms that's exactly what they're doing. So we're just going down road assuming that's what they're doing. And if they're going down if we want to go down that road. Yeah, that's their ultimate task for every department and agency that they're going into is to find waste, to find fraud, to find abuse in terms of the way those agencies and departments are run.

Speaker 1

Yeah, And maybe that's part of the problem, John, is that people don't seem to know what exactly they're doing because they're moving at such lightning speed and basically instead of making surgical cuts, they're taking a sledgehammer to departments. And there's these huge recommendations for thousands and thousands of layoffs.

Speaker 3

So interesting.

Speaker 1

It's going to be interesting to see what all happens with us, that's for sure.

Speaker 7

Yeah, some of this will ultimately be decided by the courts and ultimately, I think by the US Supreme Court in terms of the authority that dog has and what its function should be as a consultant to the federal government.

Speaker 3

Yeah, okay.

Speaker 1

Kfi's White House correspondent, thank you so much for the information and insight.

Speaker 3

We appreciate it. We'll talk to you soon.

Speaker 7

Thank you, bye bye.

Speaker 2

You're listening to Wake Up Call on demand from KFI AM six forty.

Speaker 1

I love Chautauqua Boulevard and I love it because Debra mark and listen. I should never call anybody out for mispronouncing anything because I do it all the time myself. But she could not say shaittak would have saved her life the other day and it was so cute.

Speaker 3

Wow, I know, we love Debra.

Speaker 1

Riverside County Sheriff Chad Bianco says there are a lot of things wrong with California, and that's why he's running for governor.

Speaker 3

He announced his candidacy yesterday. He says he's thought.

Speaker 1

Long and hard about this and wants to fix the problems that have been driving people out of the state, like the high cost of living, high taxes, and crime. A shelter for illegal immigrants in San Diego is closing. One hundred and fifteen people worked at the shelter, but Jewish Family Services says it hasn't received any migrants since Inauguration Day and twenty two million dollars in FEMA funding is being cut. The shelter says it has helped nearly

two hundred and fifty thousand people since twenty eighteen. It's six so five tandele on the news. Cell phones banned at all LA schools starting today. Right now, let's say good morning to ABC's Chris Baccia. So, Chris, things are moving fast and furious on what to do, not only in the Middle East but also.

Speaker 3

In Ukraine.

Speaker 1

And what's the latest, because we've heard that talks were held and talks have ended today.

Speaker 8

Good morning, and they have almost just ended. They went five hours in Saudi Arabia between the American side and the Russian side having discussions over how the war in Ukraine could potentially end. And I am just looking at the readout from the American side on that meeting and and some of the early signals that the delegation has sent back to US and the press. And again they

met for five hours. This was sort of the talks about the talks, we could say, as both sides indicated that they'd be picking potential people to continue to carry the ball forward on these negotiations. But it certainly is an opening to something here after President Trump and Vladimir Putin spoke over the phone last week. And as you mentioned, the pace of this is not what we're really familiar with when we talk about diplomacy.

Speaker 1

Right, and you mentioned you're just getting the readout. We had planned on more to talk about what happened yesterday with the Gaza strip, and we'll get to that, but yeah, things are moving fast. And we just got word too that the talks had ended and no meeting has been set yet between Trump and Putin. But that's kind of the ultimate goal to get. As you said, the ball gets.

Speaker 8

Rolling, right, and that is a significant thing where that is you know, the Saudi Arabians have hosted this first summit, if you will, this first conversation we could call it. So whether or not they would host a second round between the heads of state is an open question. There's a big question about whether or not Vladimir Putin will meet with volodimeters Alenski, the president of Ukraine, who was

notably absent from this meeting. But of course these are the two parties of the war, and Russia invaded Ukraine, so there's not necessarily a scenario, according to Vladimir Zelenski, where he does any deal without having that conversation directly with the Russians, directly with his counterpart, which is which is President Putin, and the Russians, through their spokesmen have not necessarily said that that's off the table, something they're open to, So all of these things are moving quickly.

The Europeans, for their part, were not at the table either, and certainly some of them wish that they were. But Emanuel Metkrone, the President of France, gathered some important European leaders in Paris yesterday to have their concurrent conversation with how the Europeans will respond to whatever the scenario in Ukraine looks like in the coming months.

Speaker 3

Okay, Well, so we're going to have to wait and see on that.

Speaker 1

And then Rubio was in Saudi Arabia yesterday to hold me about what to do with the Gaza strip.

Speaker 3

Did they make any headway on that?

Speaker 8

Very little, if anything, that at least that we were told. But we know that the Saudi Arabians play play a really key role here. Normalization between Israel and Saudi Arabia was a slow moving process, but one that the first Trump administration kicked off with its Abraham Accords, and they

were really looking towards that and they still are. But the Saudi Arabians are very clear to say that they won't recognize Israel diplomatically, they won't establish those ties unless certain conditions are met, and the key one is that Palestine gets a pathway to statehood, and certainly in the event that Palestinians are evicted from Gaza, which we've heard the President here in Washington established as a position of Washington, that's a non starter for the Saudi Arabians when it

comes to their diplomatic relations with Israel or those relations that the Trump administration has worked toward establishing Yeah, and have.

Speaker 3

They said they're going to meet again about this or are no talks set.

Speaker 8

Not just yet. We really don't know even what the next twenty four hours hold at this point. They just got done with those five hours of meetings. They worked through lunch, and as far as what comes next, we don't know just yet.

Speaker 1

Okay, well, we'll be following it, and we appreciate your insight and your input. Chris Bachia, ABC News correspondent, appreciate it.

Speaker 3

Thanks so much.

Speaker 2

Thanks Amy, you're listening to Wake Up Call on demand from KFI AM.

Speaker 1

Six Forty hundreds of people gathered in downtown LA and Long Beach against President Trump. The Not My President gatherings held on President's Day were organized by the Fifty to Fifty one Movement to protest with the group called the anti democratic and i legal actions of the Trump administration and its plutocratic allies. Eighty people have survived the crash of a Delta Airlines jet that flipped over and landed on and it's roof while landing in Toronto. Eighteen were hurt.

Snow was blown by gusty wins when the flight from Minneapolis attempted to land yesterday shortly after two. The tower had warned the pilots of a possible airflow bump in the glide path as the plane came into land at six oh five. It's handle on the news. Another hostage releases planned in Israel. This one will not have a happy ending. Let's say good morning to ABC's tech Quhiz Mike Debusky.

Speaker 4

Good morning, Mike, Good morning Amy.

Speaker 8

How are you.

Speaker 3

I'm great.

Speaker 1

So Elon musk Mania is in full swing and people are mad about the Doge cuts he's recommending.

Speaker 3

So what are they doing?

Speaker 4

Uh? They are protesting outside of Tesla locations. One of the protesters I was talking to said that Tesla stores Tesla superchargers provide a good attack surface to sort of voice people's concerns about Elon Musk's recent actions at the federal government. This is a protest movement that cropped up over the weekend. Some are calling it the Tesla take some are calling it the Tesla take down. We think that this affects about three dozen Tesla dealerships and Tesla

supercharger locations across the country. And the goal, according to these demonstrators, is really to hey Elon Musk where it hurts. Tesla is one of his most prominent and public facing businesses, and it's where a lot of his revenue and money comes from. If you go to the sort of organizer's website, they say they have a couple goals here. They want owners to sell Tesla's dump stock and join the picket lines, and they say that hurting Tesla is stopping Musk, and

stopping Musk will help save lives and democracy. Amy just a quick snapshot of some of the signs. Some of the chants that you might see at one of these protests say no to MAGA, ditch your Tesla, boycott Tesla, defund Musk, and go steal data on Mars.

Speaker 1

Okay, So, Mike, how many I mean you said there's three dozen locations that have been targeted at this point. I mean, is it thousands of people? Is it dozens of people who's showing up?

Speaker 4

Yeah, it's important not to overstate how widespread this is. Again, three dozen locations, but there are hundreds of Tesla locations across the country. There are some very well attended ones. One in Berkeley, California, had about two hundred people there, according to the BBC. I was talking to a protester in Portland, Oregon. He said about one hundred people showed up to this one particular location. Obviously, smaller locations, places that are you know, in major cities, are going to

be more sparsely attended. There were some high profile figures there though, Among them Alex Winter, who is a documentary filmmaker prominent critic of big tech, probably best known for playing Bill in Bill and Ted's Excellent Adventure. He was at one of these protests. Cheryl Crowe was not at a protest, but she did post a video with the hashtag kind of associated with this movement of her selling her Tesla, and she did say that she donated the

money from that sale to NPR. NPR frequently criticized by Elon musk as I said, there are hundreds of Tesla's stores across the country, so this could, you know, not really expected to know deeply affect sales at least this particular weekend. But you talk to any of these organizers and they say they expect their movement to grow in the coming weeks, potentially something Tesla should be concerned about, given that they saw their first ever sales decline last year.

Speaker 1

This would be interesting to watch because you know, there's been other efforts to cancel companies with conservative goalsers. I think of Chick fil A and Goya right off the top of my head, and ultimately I don't think either one of those were successful.

Speaker 3

But we will be watching ABC's Mike Debuski. Thank you so much for the information.

Speaker 8

Of course, take care, all right, have a great day.

Speaker 1

Now let's get into your business with Bloomberg's Dan Schwartzman. I know it's supposed to be Courtney Donaho, but she's been with us for two weeks and she's already taking a vacation. So instead we're going to say good morning to Dan schwart Horseman.

Speaker 3

Good morning, down.

Speaker 9

Two weeks in and a week off.

Speaker 3

I know, right, she's a slacker.

Speaker 9

Must be nice. I get the vacation, you know, I got to work the vacation week.

Speaker 10

She's off.

Speaker 3

Well, fantastic, you know what. We're happy to have you here.

Speaker 1

So, Dan, the first thing I wanted to ask you about was watching gold, and I just saw the price of gold is up at before trading starts today, at twenty nine hundred and thirty two dollars per ounce.

Speaker 3

It's a lot.

Speaker 9

It is a lot of Aman. It's only going to keep going up. Goldman Sachs raising its year end gold target now to thirty one hundred dollars an ounce. They're citing central bank buying and inflows into bully and backed exchange traded funds. Now, central bank demand, Amy could average fifty tons a month and bullying could hit thirty three hundred dollars an ounce if uncertainty of economic policy persists. It's mainly driven by investor concern over tariffs and also

increase purchases by central banks. Kicking myself, Amy, we're not stocking up on Goldwin. It was like in the thousands, you know, I mean a three thousand dollars it's insane.

Speaker 3

Is that a record high?

Speaker 6

Oh?

Speaker 9

Yeah? Every day that it goes up, it's another record. It continues to just climb, clime, climb, but no end in sight right now?

Speaker 1

Okay, And you said that, like, just give us a quick little recap of why gold prices are going up. You said, economic worries. But it's a it's a typical thing that happens with the stock market.

Speaker 9

Right right, And you know when when it comes down to currencies and things like that, Aim you know, gold is like a safe bet to put your money in. You know, it's an actual tangible item that you can hold and keep. So it becomes very popular when people are worried about currencies and you see the influx and the dollar the end the euro and things like that. So gold is something you store in your safe and

it's always going to have value. So people are buying it and kind of like holding on to it because of that.

Speaker 1

Okay, well you could use some of your goal to pay for your cable bill or maybe not, because the cable TV industry apparently is in a lot of trouble.

Speaker 9

Yes, because of me. I actually just cut the cord last week. I did. I did you know? I was paying a fortune and I it kind of went over my viewing habits, right, and I watch sports. But besides that, it's all Prime and it's Netflix and Apple TV Plus and all the streaming services. I'm really not watching cable. And what that's done, Amy, is the industry really is showing more and more signs of concern. How about this?

AMC Networks. Their shares tumbled after the media company reported declining sales and a nearly four hundred million dollar impairment charge now the parent company of BBC America. They also have Sundance TV, and of course it's named Sake. Cable Network said revenue for the fourth quarter fell close to twelve percent. Now AD revenue in general fell twelve percent. So a lot of problems right now for cable TV and that entire industry.

Speaker 1

It'll be interesting to see if they figure out how to adapt or if they just kind of go the way of the DODO, because, like you said, more and more people are cutting and I.

Speaker 3

Don't watch TV nearly as much.

Speaker 1

I mean, I watch the screen, but I don't watch network TV the same way. If I want to watch something, I go to Paramount Plus or Hulu or something like that to watch it.

Speaker 9

Yeah, you don't want the commercials, Like I look forward to series that are coming on, For instance, What Reacher's starting up in a couple of days, I believe on Prime. And I can't remember the last time I thought to myself, Wow, I can't wait for that network TV show to come back, and then you have to watch it with commercials. I found myself watching what Shogun it was? I think on was it FX? The day after because I would DVR it so that I can fast forward commercials. We don't

want commercials. We have no patience of that anymore.

Speaker 10

Amy.

Speaker 1

All right, Bloomberg's Dan Schwartzman getting in your business, and we'll talk to you again tomorrow because Courtney's a slacker and taking the whole week.

Speaker 9

Off sounds good. Talk to you tomorrow, right, Thank you, Dan.

Speaker 2

You're listening to a wake up call on demand from KFI AM.

Speaker 1

Six forty teachers at El Camino Real Charter High School have voted overwhelmingly to accept a new contract offer that ends a week long strike at the prestigious Woodland Hills school. The teachers' union says ninety seven point five percent of the teachers voted in favor of the deal that includes a nineteen percent pay raise over three years. The La City Council is expected to make a final decision today on a proposal to protect Nanny's guard and other residents

impacted by last month's wildfires from being evicted. The council last week couldn't come up with a final list of recommendations that would have prohibited evictions for non payment of rent and no fault evictions for fire victims. The La Homeless Services Authority will conduct its first night of the annual Homeless Count tonight. Hundreds of volunteers fan out across the San Fernando and Santa Clarita Valleys and the Metro La area. The count was supposed to happen last month,

but was delayed because of the wildfires. We're just minutes away from Handle. On the news, this morning's gonna have the latest on that plane crash where the plane landed, lost a wing and flipped over and everybody survived. Let's say good morning now to the host of How to Money Sundays noon to two right here on KFI.

Speaker 3

It's Joel Larscard.

Speaker 10

Morning, Joel, Morning Amy.

Speaker 1

Okay, so Joel, I've been mentioning this all hour and having a good attitude can help you make more money.

Speaker 3

Yes, how is that pause?

Speaker 2

That is?

Speaker 3

That's great news. I have a great attitude about this.

Speaker 10

Yes, me too, Me too. I'm like naturally an optimist.

Speaker 11

I know everyone kind of comes out of the womb with different personality tendencies, but I usually just kind of some might say, overly optimistic. But there's this new study from the American Psychological Association, and they basically found that people who are more optimistic about the future. It actually that optimism helps them save more money, helps them be smarter with their finances.

Speaker 10

I think that's kind of cool.

Speaker 3

I'm concerned about this though, because I tend to.

Speaker 10

Be at sound like a pessimist right now.

Speaker 4

Yah.

Speaker 1

I tend to be optimistic, but I am not great with my money.

Speaker 11

Yeah, okay, So I think that's where's that disconnect. I don't know what the American Psychological Association would say about that, but I think my take on why this is the case, why more optimistic people tend to do better with saving for the future, is it's not necessarily this causation thing.

Speaker 10

I think it's more of a correlation.

Speaker 11

And I think some people might say, oh, you're manifesting something into existence by being more optimistic. I think it's more along the lines of, if you believe that good things are coming down the pike for your future, then you're just more likely to put your money where your mouth is. And so if you're saying brighter years are ahead, I'm looking forward to tomorrow, it's just easier to kind of sink that money into that. What did Walt Disney call it? The bright, beautiful tomorrow?

Speaker 10

Right?

Speaker 11

So, I think people feel more inclined to stick money into their retirement accounts, or to stick more money into their high yield savings account to kind of to save up and to get ready.

Speaker 10

For that beautiful tomorrow.

Speaker 11

But if you are pessimistic, and you're like and I think this might actually be indicative too of a national mood. I think it's not just a personal optimism that's necessary. But when people are interviewed and you ask them about how they feel about the country, you know their mood has turned more sour. Yet when you ask them about what's going on in their own personal lives, they tend

to be more optimistic. And so I think we as individuals should focus more on the locus of control that we have, which is, you know, we can't really impact a bunch of things happening at the national level or even the state level, but when it comes to our own futures, we do have more say so than we like to think.

Speaker 1

Okay, well I am hopeful, so I'm going to go put some money away today.

Speaker 10

That's what I like to hear.

Speaker 1

Okay, I wanted to talk to you about this because there was all this, there was lots of ads, I guess I haven't seen them as much recently, but they're talking about, hey, your your data is too slow, you can't get a good signal, or you can't get any information down on your computer, and so they're really pushing the high speed connections on your home internet.

Speaker 3

And of course that costs money, so is it worth it?

Speaker 11

Yeah, So don't take my word for it, but see that published an article this past week and they basically talked about how a bunch of people across the nation are overpaying for internet speeds. And I think it's largely because we have succumbed to the marketing and so it's like terabyte speeds, all right, I'll pay one hundred bucks a month for the fastest speeds around and yet for the way most people use their Internet, they just don't need it. It's it's like bringing a bazooka to a

knife fight sort of thing. And I think the same can be actually true of like cell phone data. People have become sold on the fact that they need unlimited data on their cell phone, and then they fork over an arm and a leg every single month for their cell phone bill because hey, got to cover myself just in case. But the truth is most people are attached to a Wi Fi signal, either at work or at home most of the time, and so you could probably save a substantial amount by going with a three gig

or a five gig a month plan. Just look at your past data usage to kind of see what would fit your lifestyle, and yeah, maybe you may save twenty five forty bucks a month. Well, the same is true on the home internet front, where if you are assuming that you need terabyte speeds or gigabyte speeds, but maybe three hundred meg speeds or maybe one hundred megabyte speeds would do just fine. Well, think about how much you could save by actually downgrading your internet speeds. And so

much of it depends more people working from home. How many files are you uploading? Do you have like eight

people in your house streaming simultaneously. So the mileage may vary on this suggestion, but I do think there are a lot of people who have said, oh, I need the fastest speeds in existence, and the truth is to do most of the basic things that many of us do, checking our email, watching a video here or there, you don't necessarily need the fastest speeds around, and you could stand to save quite a bit of money by downgrading a little bit.

Speaker 1

So even if it was twenty five dollars a month, if you go, oh, it's just twenty five dollars, but then you add that up, it's three hundred dollars a year, and that's three thousand dollars and ten years. And if you invest that money smartly, you could be very optimistic about your future as you add to your coffers.

Speaker 11

Yes, and I think people like undersell the twenty five dollars a month thing because there's this thing called the aggregation of marginal gains. And so you save twenty five bucks on your internet bill and then you save thirty bucks on your cell phone bill. And it's in particular

with those recurring charges. Like people like to I think laugh at me sometimes about canceling some of those subscription services, but it's like, man, all those things add up, and if you just kind of pay a little bit more attention and maybe spend a few hours one day this week, and you work hard to cancel some of those things in your life or to bring the price down, those

savings just kind of recurringly come back to you. It's something you do once and yet you save perpetually, so I think that's one of the best ways to save. Even though some people think it's small potatoes, I think those small potatoes do add up.

Speaker 1

Always great advice from our buddy Joel Larsgard, and you can get more great advice on how to money right here on KFI Sundays noon to two. Joel, thank you so much. Thanks Amy, you've been listening to Wake Up Call with me Amy King. You can always hear Wake Up Call five to six am Monday through Friday on KFI AM six forty and anytime on demand on the Heart Radio app.

Transcript source: Provided by creator in RSS feed: download file
For the best experience, listen in Metacast app for iOS or Android