March 27, 2020 • 26 mins
Friday episodes are all about the coronavirus and your money. There’s a lot of news and information out there, and our goal is to distill that down to specific takeaways that will allow you to weather this surreal health and financial crisis. In today’s optimistic episode we cover a lot of good news coming down the pike, including the stimulus bill- how it looks like we’re all getting stimulus checks, unemployment benefits are being extended, and small business loans are getting amped up. Listen to learn how this bill will affect you.
And as we ramp up the podcast with an additional Friday episode every week, we could really use your help to spread the word- let friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money in these difficult times!
Best friends out!
Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Welcome to How the Money. I'm Joel and I and
Matt and today we're discussing COVID nineteen, stimulus checks, and
small business help agil. This is our Friday episode. Man,
(00:27):
we're talking about coronavirus COVID nineteen. How do you guys
hold up? By the way, We're good. This is the
end of two weeks, specifically for us, at the end
of two weeks where we have kids at home. Yeah, yeah,
I mean I feel like it's definitely been a change
of pace for for like how we roll and our
mornings look different in a lot of ways, good different.
I think, you know, the afternoons for my wife, um
(00:49):
look a little bit harder than they typically are, because
not only is she having to attend to a baby,
but she's also having to help two kids learn facilitate
their learning at the same time. So yeah, I know
it's changed a lot of people's lives, but we feel
incredibly fortunate. We feel like our lives have not been
thrown into turmoil. And I know a lot of people
out there are feeling like things have changed a lot
(01:10):
right now. Yeah, man, it's so crazy, right, Like, I'm
still getting used to the idea that. I mean, folks
have been unemployed for two weeks now, and like you said,
we're lucky enough to where our lives have been impacted minimally.
But it's it's it's still weird that there's not and
this is pretty small in the grand scheme of things,
but MLS soccer. I haven't seen a soccer match in
a couple of weeks now. It's it's still kind of weird. Yeah.
(01:30):
MLB opening Day was supposed to be this week. All
sorts of I mean just sports. Is that is that baseball? Yeah,
I mean there's just all sorts of things that have
changed in the way that our society functions right now.
Sports are obviously, you know, one of those things one
of those places that people often turn in a difficult time.
It's neice to have that escape, and that escape isn't
even there right now. So yeah, hopefully Matt, these shows,
(01:52):
these Friday shows that were they were putting out, it's
our goal right to put out more timely information, and
there's a lot of timely information that we have to
get to on this episode to be able to help
people think through potentially filing for unemployment. How small businesses
can handle you know the difficulties right now in this time.
The stimulus bill that was was just past is a
huge help to everyday Americans. We're gonna get to some
(02:13):
of those topics in just a second map, but Matt,
before we begin these Friday episodes, at least for now,
we definitely want to talk about the good news, the
great things that we see that are out there, happening
even in the midst of difficult times for lots of people.
So let's start there. Yeah, man, there actually is some
good news out there. There are some resources that we
think might be helpful for folks during this time. We
wanted to mention first that Amazon is offering free kids
(02:35):
books via Audible. Did you know that Audible is owned
by Amazon? I don't think I knew that up until recently,
but uh, but yeah, so that's gonna be an amazing
resource for folks actually flipped through there recently. We've never
done audio books with our kids before, but that's something
that's definitely gonna change with with this free resource. Have
y'all done that before? No, we haven't. I've been doing
a lot of audio books on the library app, but no,
(02:57):
I don't think we've ever done them with our kids.
You know, Yeah, we haven't there. I've we've actually tried
some kid podcast before. Yes, but have you all found
one that you liked? Because he was not into it
at all. She was just like, I think as soon
as she heard it, she just assumed that that was
what daddy was supposed to be listening to, and she
just completely tuned it out. Yeah, there's one actual kids
podcast that we found that the kids have fallen in
(03:19):
love with. It's called Circle Round and yeah, the host host,
I believe that Circle Round host Rebecca Sheer, does a
great job doing like a different story every time, and
they bring in like actors and to play the voices
for different podcasts, and it's been really good. The kids
really like it. Very cool. Man. Well, speaking of Amazon,
a lot of folks are currently unemployed right but there
(03:39):
are a bunch of different companies who are hiring right now.
We mentioned Amazon in krow Girl last week, but Instant
cart Man they are looking to hire three hundred thousand
full service shoppers over the next three months. That's a
lot of people, and it's no surprise that they've been
busier than ever as we've been asked to stay home
so it's yeah, not a surprise that the sort of
grocery sector has been taken off or yeah. On that note,
(04:00):
all the also is hiring in some of their stores
and warehouses. Walmart obviously is a big player in the
grocery game, to hiring a hundred and fifty people for
full and part time work. The country's largest organic food distributor,
Are they okay? Yeah. People are always surprised to hear
that because they're like, wait, what Walmart Organic even just
having like ten items makes them the biggest players. There's
(04:22):
such a huge company and they are everywhere, so they
are the country's largest organic distributor. Yeah. I met in
publics where I recently mentioned I got free antibiotics for
our family. That's right, step throat. Yeah, we kicked it
to the curb now and yeah, I was gonna say
you didn't get it, so good for you. Somehow I
avoided it. Yeah, but they're gonna hire thousands of people
by the end of March for positions in stores and
distribution centers. So you know if you are needing some
(04:46):
sort of employment right now, that those are good places
to turn. But also the unemployment benefits have expanded thanks
to this new coronavirus stimulus package that passed and uh yeah,
So Matt, I feel like we need to get to
kind of all of the things that or were involved
in that bill because there's a lot and there's a
lot of practical information that I think needs to be
kind of disseminated for for people out there who are
(05:08):
wondering how it impacts their lives. I mean, at a
cost of roughly eighteen thousand dollars per individual American, right, Like,
this is gonna be one costly bill, the biggest in
our country's history, but it could save a lot of
individuals and our economy from some really dark times. And
so there is a lot that's included in this bill.
But the question that we are asking is what does
it mean for you? And so let's cover a few
(05:28):
of those high points. Yeah, let's do it. The first,
the biggest thing I feel like the headline making news
is checks to pretty much every single American in money. Yeah,
the presidential Canada, Andrew Yang had the the freedom Dividend
that he was touting that ubi for for all Americans,
universal basic income, Yeah, thousand bucks a month for everybody.
But this is kind of coming in the form of
a bigger check, but a bigger one time check, although
(05:51):
I think we could see this expanded on at some
point in time depending on how long this you know,
the coronavirus blues have us down, but to the tune
of twelve hundred bucks per adult five bucks per child.
I think that this stimulus check can have a massive
impact on people's everyday finances for the time being and
can help push back some of the economic security that
a lot of households are facing. I think that, combined
(06:11):
with some of those foreclosure pushbacks that that the government
has instituted, also, it's just going to create so much
more financial security in a time where it's hard to
find any security right now for for a lot of people.
So I think this is also going to stimulate some
consumer spending, which is going to help out some of
those businesses that are in need right now. It is
important to note matter on these checks, right that the
(06:31):
amount of the payout phases out as your income increases,
and it's starting at seventy dollars for an individual and
a hundred fifty thousand dollars for married couples and matt
in a couple of weeks, we're going to kind of
get into some specifics on how we think people should
be handling, you know, a big payment, like a government
stimulus check right now, what what they should be doing
with it in order to kind of help themselves through
(06:52):
this difficult time. Yeah, what's to do with that government
stimulus check? Or what to do maybe with even a
tax refunds? Yeah, yeah, it's tax season, baby. Yeah. You
definitely don't wanna go like put it on black at
the roulette table. I don't think no. Another key point
of the bill is the fact that unemployment was extended
in a very big way by thirteen weeks, and it
increases the amount that you can receive by up to
(07:14):
six dollars a week. Yeah, for part of the period.
Yeah yeah, Senator Chuck Schumer, he called the provision unemployment
compensation on steroids. Other great news is that this benefit
extends to gig economy workers, which is great because this
is traditionally uh an area where there have been few
labor protections. It also extends to freelancers and furloughed workers
who are still getting health insurance from their employers but
(07:34):
are not receiving a paycheck. So if you have lost
your job, or if you've been furloughed, make sure to
file for unemployment with your state unemployment office as soon
as possible. Yeah, I completely agree. Sign up for those
benefits if you are eligible. And I'm so glad, Matt,
that this did involve that provision for for gig workers,
because typically those people aren't covered at all, and some
(07:55):
of those people are hurting the most right now too.
And Matt, one of the other biggest things that that
happened in this government stimulus bill is small business loans
were amped up in a major way. To three hundred
and fifty billion dollars has been made available for these
small business loans. Obviously, it doesn't feel ideal to be
taking on more debt as your business tries to rebound
from being out of commission for for the time being,
(08:15):
but taking out a loan is obviously better than your
business going under altogether. And the great thing about these
small business loans is they're federally guaranteed. You'll have access
to them at local community banks, and if you as
a business are able to commit to not laying off
your workers, then your loan can be fully forgiven, so
it can almost turn into a grant. If you're able
to retain your employees. And by the way, if you've
already laid off an employee, you can rehire them and
(08:38):
you're still eligible for forgiveness of these small business loans.
So the federal government has been mobilized to provide a
lot of money for small businesses who are in need
right now. And it also just ensures that a lot
of these workers are going to retain their jobs in
a time where it feels really uncertain. So that's a big,
big part of this bill. Yeah, as an employee, maybe
you're looking at this and you're thinking, well, what does
this you know, how does this actually impact me? And
(09:00):
what we would say is that like traditionally small business loans,
I think we're offered uh and businesses would take them
out so maybe expand or buy new equipment. Right that's
probably not happening right now because everybody is kind of
hunkering down. But what that does mean though, is that
small businesses have access to affordable loans where they're able
to continue to make payroll. And certainly that does have
a direct impact on you as an employee as well
(09:23):
as your future of you know, potentially being able to
continue to be employed by that company. Yeah, I feel
like this three pronged approach of sending money directly to
Americans and then also you know, offering expanded unemployment benefits,
and thirdly giving small businesses this this ability to get
funding to continue to make payroll, to continue to keep
their employees around. I think it's going to have a
(09:44):
really big effect, at least in the short term, to
be able to to help us all keep going even
though things are still crazy and uncertain as to where
we go from here. This is a big step in
the right direction that's going to help out a lot
of people who's not gonna feel good about check showing
up in the mail, right, right, I never turned those
down exactly, And so you know, there's more information and
more details that this bill are going to kind of
(10:05):
develop and what it means to us as individuals, and
we will certainly continue to keep you our listeners posted
as we you know, find more than information out. And
it's cool to see our country finally kind of getting
it together. We're kind of like joining forces finally. Right.
Took people from different sides of the aisle a little
bit of time to actually hammer this one out, and uh,
it's just tough for them to get along and see.
Like sometimes it's even encouraging at a local level to
(10:27):
see that within our communities. I know that whenever we're
able to see something like that, I guess tangibly, you know,
like if we're able to actually put our hands on
something or see something, it makes a difference. It makes
an impact on how we perceive the world. I know.
One of the cool things that we've seen here in
Atlanta is that different neighborhoods have created these hearts that
you put up on your house or up in a window.
It's just like a little craft project, right, nothing special,
(10:49):
but the point is to show solidarity with others within
your community. And then on top of that when we
go out on walks or bike rides, it's a fun
little scavenger hunt to do with our kids. And not
to mention also like this thirty minute craft activity that
you can occupy your kids with. We're all looking for
those right now. It's so it's just cool to see.
I feel like we're starting to get our feet back
under us right, Like we're seeing our country kind of
(11:10):
come together where our government is taking steps ensure that
we're able to move forward, but it's it's kind of
cool to be able to see that on a local
level as well. Yeah, it really is. I feel like
community is is. We've we've done episodes on community before
and the importance of community and I feel like was
the exact title of a previous episodes. And I feel
like a community reveals its true stripes in a time
like this, like how do we care for one another?
(11:32):
And when the chips are down, that's the same thing,
you know in our families, how we love each other
when things aren't feeling amazing, Like that's a true sign
of how big and good our love is. So yeah, man,
I feel like we're seeing that in our community at least.
There's this one local band that's been uh driving around
or so someone's driving them and they're all in a boat,
a four piece band in a boat playing They're called
(11:54):
Mermaid Motor Lounge and which is an awesome name, right,
And they've been just like lighting up everyone's faces as
they tour the neighborhood in the back of a boat,
just playing awesome music. So yeah, that's been that's been fun.
And I feel like we're seeing all sorts of interesting,
cool stories like that. Right now, even in the midst
of a lot of you know, awful stories that we're
reading too. So yeah, Josh, he's one of the guys
(12:14):
in that band. They're all pretty funny folks. One of
the slogans that they put up on the boat was
We're on this boat together, which is perfectly appropriate, so
true right now. So, man, this is fun. This is
a good optimistic first half, and not that that optimism
isn't going to continue. But after the break, we're gonna
get to some listener questions. All right, Matt, we're back
(12:40):
from the break. We're gonna take a few listener questions.
Just obviously there are even more financial questions that people
have right now because there's so much up in the air,
and we'll do our best to continue to answer those
on our Friday episodes, in particularly the timely questions that
are pertinent to kind of what's happening right here now.
So Christie in our Facebook group asked this week, has
anyone read any official confermation about whether the tax deadline
(13:02):
being moved to July means that the twenty nineteen IRA
contribution deadline is now also extended to July, and man
on Friday's episode, we talked about the tax filing deadline
being moved back to July fifteenth, but what we weren't
able to speak to was whether or not IRA A
contributions could also wait until July fifteenth because the i
r S just hadn't clarified yet. And that's understandable. There's
(13:24):
there's a like of one on a going on. Yeah. Well,
so traditionally you can contribute to your previous year's roth
IRA or traditional IRA up until April fifteenth, ye, tax
filing deadline for the previous year. But now yeah, that's changed, Yeah, exactly,
And so the i r S clarified in the middle
of this week that you can continue to contribute to
your IRA until the July filing deadline and have those
contributions count for twenty nineteen. So basically, for all of
(13:47):
us out there, July fifteenth is the new April fifteenth.
And uh, and that holds true for IRA contributions as well. Yeah.
What's great about that is you can have a bunch
of cash sitting around in your high interest checking account
just in case you need to tap that money, right
and then once all this clears and it's looking like
you know what, You've got a lot of job security.
There's a lot more stability, not only in your life
but in the economy. Man, you go ahead and plug
(14:07):
that money into your wrath and listener Jordan asks, I
would love to know your thoughts on the forbearance of
federal student loans with the zero percent interest rate for
the next sixty days due to the coronavirus. Is it advisable?
I personally would just add that money into my savings
for a future payment. Jordan. Actually, in the stimulus bill
just passed by the Senate, it looks like you'll automatically
(14:27):
have your payments deferred without interest for six months. This
means for most Americans who have federal loans, you won't
need to make any payments through septemb so you're good
until October, and that could be huge for individuals who
might be in a tough spot right now. Unfortunately, this
does not apply to borrowers with private student loans. But
we'll plan to talk more about the implications of student
(14:49):
loans next week, and that gets to our next question.
This one's about real estate investing from a listener in
San Diego. Hey, Matt and Joel, this is Laura calling
from San Diego, kell Fornia. I just wanted to say
I love your show and I love craft beer, so
I'm super happy that we found each other. I wanted
to ask a quick question. We have an old four
(15:11):
oh one k lying around that we were considering putting
towards a down payment on a second rental property in
San Diego. Is this even possible? And given the current
crisis with the coronavirus, is this a time that mortgage
lenders are being more or less generous? Is it easier
or harder to get this kind of alone in the
(15:35):
circumstances that we're in. Thanks in advanced guys, I always
love to hear your show. I've learned so much from you.
Take care, Hey, Laura, thanks so much for that question.
And you know what, we are glad that we found
each other too. We filled that craft beer. It's it's
almost like one of those common denominators that can unite everyone,
especially with you being right there in San Diego, Joel,
that's were modern times is That's one of our favorites.
(15:56):
For sure. San Diego is like a craft beer hotspot.
I feel like you're running for president now on the
craft beer platform. That's what it sounds like. Have I
mentioned it recently? No, you just said craft beer can
unite us all like it just sounds like a stump speech.
It's like a uniting pillar. Well, I'm not going to disagree,
and I love for you. Well, what's funny? Actually, on
that note, we we haven't really addressed the fact that
we haven't been having beer on these Friday episodes. And
(16:17):
that's because these are going to be shorter episodes moving forward,
and you know, we still are going to have our
craft beer on our other episodes, but at least we're
now we're gonna hold off having that third beer. It's
not because I became luten intolerant or you didn't know
exactly that. But so, lord, let's go ahead and kind
of get your question. You're asking if it's you know,
possible to get money out of that four ol n
K for real estate, and the answer is yes, right,
(16:37):
it is certainly possible. However, there are a few reasons
that you want to make sure that you avoid this move.
Just like you know you're trying to avoid large gatherings
right now, you want to avoid taking money out of
a four O one k completely and um and doing
anything with it at this point. Yeah, man, that's because
you'll be locking in your losses and missing the eventual
ride back up. So obviously it depends on what you're
invested in inside of your four own K, what sort
(16:58):
of losses you'd be locking in, But in all likelihood,
if you own index funds or your in target retirement funds,
then you'll be selling at a pretty bad time to sell.
And at the same time, even though the government is
floating the idea of letting people take disbursements from their
foe own K without a penalty, right you wouldn't know
that additional ten percent penalty as you typically would if
you took money out of your investments right now, that's
(17:18):
something that's on the table. It's not set in stone yet. Well,
you would still owe ordinary income tax on that money.
And we're just not fans of tapping your tax advantaged
retirement accounts pretty much ever, but especially after the market
is seen just a precipitous drop like it has recently.
Yeah man, that's I mean, that's the whole point of
tax advantaged accounts, right like that, you get to avoid
the tax altogether, and so you're paying a steep price
(17:39):
if you want to access that money now. And Laura,
we love that you want to invest in more real estate,
especially there in San Diego. It's beautiful there. But there
are better methods of getting that down payment money, preferably
saving it up the old fashioned way, if if at
all possible. However, we've talked about this before, but a
cash out refinance isn't a terrible move if you are
using those funds to invest further. You just want to
(18:02):
make sure that you aren't over leveraged. But with mortgage
rates even lower right now, you might be able to
get an even lower rate than you currently have, say
on your primary residence. But if you take that money
and you only invest it and you're not tempted to
consume some of it, then that could be a good move. Yeah,
And and Laura asked also a question about mortgage lending standards,
and that's a good question if those are going to
change based on kind of everything that's happening right now.
(18:25):
And after the Great Recession, lending standards were raised. Lenders
had a higher bar for you to actually get approved
to get alone. Before the Great Recession, really it was
just if you came in with a pulse you got
a loan, and we saw what that led to, and
so lending standards did change a good bit, you know,
in the aftermath of that recession. But lending terms have
eased since then, with less stringent requirements for borrowers, and
(18:48):
so it has become easier and easier. And in times
of great financial distress, I think lending institutions, the big banks,
they're going to amp up their due diligence. So I
could see documentation requirements becoming more engine I could see
an emphasis on on higher credit scores becoming more important
to lenders. That remains to be seen, but that's what
happened in the last recession, and I see something similar
(19:09):
playing out here too. That's right, Joe. It'll be interesting
to see kind of what those requirements end up being
after all of this. UM. One other question we wanted
to get to Carla. She posted this to the Facebook group.
She asked, are yall canceling quote unquote luxury services? Basically,
she was asking about any sort of product or service
that you can do without. That's something we should all
consider right now. Joe and I will get into the
(19:30):
specifics of what we think about where to cut uh
in a few weeks on the podcast on an upcoming episode, Yeah, man,
I feel like there's certainly a lot to talk about
for us on the money front at this point in time,
and this week in particular. Right there, there's just a
lot of stuff that came flying our way and hopefully
our Friday episodes. Hopefully this episode is able to help
people right now, and we'll continue doing this for the
(19:51):
foreseeable future. But Matt, more than anything, we won't be
able to take care of their health of this time.
And I think maybe the more we've been kind of
quarantined into our homes, the easier it can be to
get stir crazy and to feel like you want life
to go back to normal. But there's still a lot
of danger out there for people, and so the social
distancing continuing for the time being to stay quarantined is
so important. So for for all of our listeners out there,
(20:12):
more than anything, you know, we hope you stay safe.
Obviously you're listening to our show. We want you to
be in a healthy financial position going forward, but but
more than anything, we want you to to stay physically safe,
as this virus is still having a massive impact. Yeah, man,
there's only so many monetary and financial bills that can
be passed, you know, things that can stimulate the economy
and and make sure that we get by. But at
(20:33):
the end of the day, like this is a health issue,
and the fastest way that we're all going to be
able to get back to living our normal lives is
by being healthy. So I couldn't agree more man. And
So while those are good measures to take when it
comes to being safe with our health, the biggest financial
safety measure is a high savings rate. As many of
our listeners know, we talked about this all the time. Man.
We've been encouraged to see that this show has, over
(20:54):
time help people achieve higher levels of financial security as
they take action through this knowledge. Listener Faith on Facebook,
she messaged and said, first off, I've always been okay financially,
never gotten into trouble with that, etcetera. Always earned well.
But oh my word, you guys have felt me be
in far better shape for this crisis. I'm pretty much
sailing through right now, and without your podcast that would
(21:16):
not have been the case. Man. That is so stinking
encouraging to hear the fact that we have actually changed
this individual's life. Yeah, Matt, and there have been other
posts in our Facebook group that even really tough times,
like some of our listeners have lost their jobs. Some
of them have been a dual income household and both
jobs have been lost. But I've seen multiple post in
our Facebook group praising their emergency fund. Right it's not
(21:37):
fun to use it, it stinks to have to rely
on it. But how do money listeners, I feel like,
are able to weather adverse hurricane like financial storms like
this so much better than the average person Right now?
Someone else posted that it's the uncertainty that's the biggest
struggle for them at the moment, and I think that's
how a lot of us feel. Man, That's how I
feel right now. And while we at least have this
(21:57):
stimulus package to kind of help bring some certainty, some
financial certainty right now, it's important to beef up your
savings in a time like this. That extra money really
does need to go into your savings account to be
there for a rainy day. But yeah, I will say
it is encouraging to see these responses from our listeners
and to see that, you know, how do money listeners,
more than the average American are ready to handle really
(22:20):
difficult times? Because they've been making moves based on the
podcast that we've been been putting out there. Man, it's
so awesome. And here's the other thing is that even
though we are all in this together, it's certainly affecting
us all differently. Right For some working from home and
the kids being out of school, like that's definitely an inconvenience,
But for others, their lives have been completely rocked. And
so if you're having trouble with your debt and you
(22:41):
don't have any sort of game plan for your money,
then make sure to check out n FCC dot org.
That's going to be a great place for you to
turn that's the National Foundation for Credit Counseling. Or maybe
you're having a tough time even finding some basic housing
for you, make sure to check out just shelter dot org.
They have a great state by state map for you
to find housing resources near where you live. Yeah, Matt,
(23:02):
and one other resource I think that can be helpful
to people right now if you have decent credit and
you're struggling to know how you're gonna pay some of
the bills that you have coming up, even even to
buy groceries. Right now, one of the things that I
think it's important to mention is a zero percent intro
rate credit card could be a good stop gap for
some people during this time. We've got a list of
some of our favorites up on our website, how to
(23:23):
money dot com. Obviously, it's not ideal to be putting
money on a credit card when you don't have the
money to pay your balance in full every month, but
for folks who do find themselves in this situation where
there between a rock and a hard place, I do
think a zero percent intro rate credit card is a
great place for a lot of people to turn. So yeah,
look for one of those fifteen or eighteen month zero
percent offerings and that can kind of help you get
(23:45):
through some more difficult times. So yeah, I just thought
we'd mentioned that as we draw this episode to a close.
And Jill, one other thing I wanted to mention is
have you seen this video going around of the Italian
mayor's basically like berating and yelling at their constituents, like
either like live in person like they're out walking this
three yelling at people, or a lot of them are
creating these videos. It's just it's so funny because it's
(24:07):
just so extreme, like it's so different than the way
we do things here in the US. But one of them,
like one of the guys on the on the clip,
he's talking to like I think high school seniors, I guess,
or maybe college graduates, I don't know, but he's saying that, like,
I know, there's hundreds of you that are you know,
that are going to be graduating, and some of you
want to host some parties and anyways, and he says,
we will send the police and they will be armed,
(24:29):
and we will send them with flamethrowers. Oh my gosh,
I mean, it's just so extreme, it's so funny. And granted,
like Italy is in a much worse position than we
are right now, and so I think what's good for
us to do, though, is just to make sure that
we are taking the necessary precautions right now, right like
make sure that we're washing our hands, you know, make
sure we're staying six ft away from each other, and
even staying home if necessary. You know, if you're in
(24:50):
a high risk city and and you've been instructed to
stay home except for you know, the bare essentials that
to get out and survived, and make sure you were
following that advice. Things are looking up domestic for our country,
but we don't want to have this false sense of security, right, yeah,
and we definitely don't want flamethrowers coming after us. That
that sounds crazy, But you haven't seen that video. I'm
gonna check it out. Oh yeah, I'll show to you what.
(25:11):
We'll put it up in our show notes to share
with everyone else maybe who hasn't seen it as well. Nice. Yeah,
we all need a good laugh during this time, buddy. Yes,
all right, So that's gonna do it for this episode.
And for folks who do want to check out those
show notes, well, they're available on our website at how
to money dot com. Yeah, and hopefully you found a
lot of value, right, Hopefully you've learned a lot from
listening to this episode, from listening to our podcast. If
(25:32):
you have, we would love it if you were to
to spread the word, if you were to share this
podcast with maybe a friend or a family member who
is going through a hard time themselves when it comes
to their finances especially. We're hoping that the information that
we're able to provide here will help them to get
through this hard patch. Yeah, we're all trying to get
through this together, our buddy Until next time, Best friends,
best friends, out the bo
Welcome to How the Money. I'm Joel and I and
Matt and today we're discussing COVID nineteen, stimulus checks, and
small business help agil. This is our Friday episode. Man,
(00:27):
we're talking about coronavirus COVID nineteen. How do you guys
hold up? By the way, We're good. This is the
end of two weeks, specifically for us, at the end
of two weeks where we have kids at home. Yeah, yeah,
I mean I feel like it's definitely been a change
of pace for for like how we roll and our
mornings look different in a lot of ways, good different.
I think, you know, the afternoons for my wife, um
(00:49):
look a little bit harder than they typically are, because
not only is she having to attend to a baby,
but she's also having to help two kids learn facilitate
their learning at the same time. So yeah, I know
it's changed a lot of people's lives, but we feel
incredibly fortunate. We feel like our lives have not been
thrown into turmoil. And I know a lot of people
out there are feeling like things have changed a lot
(01:10):
right now. Yeah, man, it's so crazy, right, Like, I'm
still getting used to the idea that. I mean, folks
have been unemployed for two weeks now, and like you said,
we're lucky enough to where our lives have been impacted minimally.
But it's it's it's still weird that there's not and
this is pretty small in the grand scheme of things,
but MLS soccer. I haven't seen a soccer match in
a couple of weeks now. It's it's still kind of weird. Yeah.
(01:30):
MLB opening Day was supposed to be this week. All
sorts of I mean just sports. Is that is that baseball? Yeah,
I mean there's just all sorts of things that have
changed in the way that our society functions right now.
Sports are obviously, you know, one of those things one
of those places that people often turn in a difficult time.
It's neice to have that escape, and that escape isn't
even there right now. So yeah, hopefully Matt, these shows,
(01:52):
these Friday shows that were they were putting out, it's
our goal right to put out more timely information, and
there's a lot of timely information that we have to
get to on this episode to be able to help
people think through potentially filing for unemployment. How small businesses
can handle you know the difficulties right now in this time.
The stimulus bill that was was just past is a
huge help to everyday Americans. We're gonna get to some
(02:13):
of those topics in just a second map, but Matt,
before we begin these Friday episodes, at least for now,
we definitely want to talk about the good news, the
great things that we see that are out there, happening
even in the midst of difficult times for lots of people.
So let's start there. Yeah, man, there actually is some
good news out there. There are some resources that we
think might be helpful for folks during this time. We
wanted to mention first that Amazon is offering free kids
(02:35):
books via Audible. Did you know that Audible is owned
by Amazon? I don't think I knew that up until recently,
but uh, but yeah, so that's gonna be an amazing
resource for folks actually flipped through there recently. We've never
done audio books with our kids before, but that's something
that's definitely gonna change with with this free resource. Have
y'all done that before? No, we haven't. I've been doing
a lot of audio books on the library app, but no,
(02:57):
I don't think we've ever done them with our kids.
You know, Yeah, we haven't there. I've we've actually tried
some kid podcast before. Yes, but have you all found
one that you liked? Because he was not into it
at all. She was just like, I think as soon
as she heard it, she just assumed that that was
what daddy was supposed to be listening to, and she
just completely tuned it out. Yeah, there's one actual kids
podcast that we found that the kids have fallen in
(03:19):
love with. It's called Circle Round and yeah, the host host,
I believe that Circle Round host Rebecca Sheer, does a
great job doing like a different story every time, and
they bring in like actors and to play the voices
for different podcasts, and it's been really good. The kids
really like it. Very cool. Man. Well, speaking of Amazon,
a lot of folks are currently unemployed right but there
(03:39):
are a bunch of different companies who are hiring right now.
We mentioned Amazon in krow Girl last week, but Instant
cart Man they are looking to hire three hundred thousand
full service shoppers over the next three months. That's a
lot of people, and it's no surprise that they've been
busier than ever as we've been asked to stay home
so it's yeah, not a surprise that the sort of
grocery sector has been taken off or yeah. On that note,
(04:00):
all the also is hiring in some of their stores
and warehouses. Walmart obviously is a big player in the
grocery game, to hiring a hundred and fifty people for
full and part time work. The country's largest organic food distributor,
Are they okay? Yeah. People are always surprised to hear
that because they're like, wait, what Walmart Organic even just
having like ten items makes them the biggest players. There's
(04:22):
such a huge company and they are everywhere, so they
are the country's largest organic distributor. Yeah. I met in
publics where I recently mentioned I got free antibiotics for
our family. That's right, step throat. Yeah, we kicked it
to the curb now and yeah, I was gonna say
you didn't get it, so good for you. Somehow I
avoided it. Yeah, but they're gonna hire thousands of people
by the end of March for positions in stores and
distribution centers. So you know if you are needing some
(04:46):
sort of employment right now, that those are good places
to turn. But also the unemployment benefits have expanded thanks
to this new coronavirus stimulus package that passed and uh yeah,
So Matt, I feel like we need to get to
kind of all of the things that or were involved
in that bill because there's a lot and there's a
lot of practical information that I think needs to be
kind of disseminated for for people out there who are
(05:08):
wondering how it impacts their lives. I mean, at a
cost of roughly eighteen thousand dollars per individual American, right, Like,
this is gonna be one costly bill, the biggest in
our country's history, but it could save a lot of
individuals and our economy from some really dark times. And
so there is a lot that's included in this bill.
But the question that we are asking is what does
it mean for you? And so let's cover a few
(05:28):
of those high points. Yeah, let's do it. The first,
the biggest thing I feel like the headline making news
is checks to pretty much every single American in money. Yeah,
the presidential Canada, Andrew Yang had the the freedom Dividend
that he was touting that ubi for for all Americans,
universal basic income, Yeah, thousand bucks a month for everybody.
But this is kind of coming in the form of
a bigger check, but a bigger one time check, although
(05:51):
I think we could see this expanded on at some
point in time depending on how long this you know,
the coronavirus blues have us down, but to the tune
of twelve hundred bucks per adult five bucks per child.
I think that this stimulus check can have a massive
impact on people's everyday finances for the time being and
can help push back some of the economic security that
a lot of households are facing. I think that, combined
(06:11):
with some of those foreclosure pushbacks that that the government
has instituted, also, it's just going to create so much
more financial security in a time where it's hard to
find any security right now for for a lot of people.
So I think this is also going to stimulate some
consumer spending, which is going to help out some of
those businesses that are in need right now. It is
important to note matter on these checks, right that the
(06:31):
amount of the payout phases out as your income increases,
and it's starting at seventy dollars for an individual and
a hundred fifty thousand dollars for married couples and matt
in a couple of weeks, we're going to kind of
get into some specifics on how we think people should
be handling, you know, a big payment, like a government
stimulus check right now, what what they should be doing
with it in order to kind of help themselves through
(06:52):
this difficult time. Yeah, what's to do with that government
stimulus check? Or what to do maybe with even a
tax refunds? Yeah, yeah, it's tax season, baby. Yeah. You
definitely don't wanna go like put it on black at
the roulette table. I don't think no. Another key point
of the bill is the fact that unemployment was extended
in a very big way by thirteen weeks, and it
increases the amount that you can receive by up to
(07:14):
six dollars a week. Yeah, for part of the period.
Yeah yeah, Senator Chuck Schumer, he called the provision unemployment
compensation on steroids. Other great news is that this benefit
extends to gig economy workers, which is great because this
is traditionally uh an area where there have been few
labor protections. It also extends to freelancers and furloughed workers
who are still getting health insurance from their employers but
(07:34):
are not receiving a paycheck. So if you have lost
your job, or if you've been furloughed, make sure to
file for unemployment with your state unemployment office as soon
as possible. Yeah, I completely agree. Sign up for those
benefits if you are eligible. And I'm so glad, Matt,
that this did involve that provision for for gig workers,
because typically those people aren't covered at all, and some
(07:55):
of those people are hurting the most right now too.
And Matt, one of the other biggest things that that
happened in this government stimulus bill is small business loans
were amped up in a major way. To three hundred
and fifty billion dollars has been made available for these
small business loans. Obviously, it doesn't feel ideal to be
taking on more debt as your business tries to rebound
from being out of commission for for the time being,
(08:15):
but taking out a loan is obviously better than your
business going under altogether. And the great thing about these
small business loans is they're federally guaranteed. You'll have access
to them at local community banks, and if you as
a business are able to commit to not laying off
your workers, then your loan can be fully forgiven, so
it can almost turn into a grant. If you're able
to retain your employees. And by the way, if you've
already laid off an employee, you can rehire them and
(08:38):
you're still eligible for forgiveness of these small business loans.
So the federal government has been mobilized to provide a
lot of money for small businesses who are in need
right now. And it also just ensures that a lot
of these workers are going to retain their jobs in
a time where it feels really uncertain. So that's a big,
big part of this bill. Yeah, as an employee, maybe
you're looking at this and you're thinking, well, what does
this you know, how does this actually impact me? And
(09:00):
what we would say is that like traditionally small business loans,
I think we're offered uh and businesses would take them
out so maybe expand or buy new equipment. Right that's
probably not happening right now because everybody is kind of
hunkering down. But what that does mean though, is that
small businesses have access to affordable loans where they're able
to continue to make payroll. And certainly that does have
a direct impact on you as an employee as well
(09:23):
as your future of you know, potentially being able to
continue to be employed by that company. Yeah, I feel
like this three pronged approach of sending money directly to
Americans and then also you know, offering expanded unemployment benefits,
and thirdly giving small businesses this this ability to get
funding to continue to make payroll, to continue to keep
their employees around. I think it's going to have a
(09:44):
really big effect, at least in the short term, to
be able to to help us all keep going even
though things are still crazy and uncertain as to where
we go from here. This is a big step in
the right direction that's going to help out a lot
of people who's not gonna feel good about check showing
up in the mail, right, right, I never turned those
down exactly, And so you know, there's more information and
more details that this bill are going to kind of
(10:05):
develop and what it means to us as individuals, and
we will certainly continue to keep you our listeners posted
as we you know, find more than information out. And
it's cool to see our country finally kind of getting
it together. We're kind of like joining forces finally. Right.
Took people from different sides of the aisle a little
bit of time to actually hammer this one out, and uh,
it's just tough for them to get along and see.
Like sometimes it's even encouraging at a local level to
(10:27):
see that within our communities. I know that whenever we're
able to see something like that, I guess tangibly, you know,
like if we're able to actually put our hands on
something or see something, it makes a difference. It makes
an impact on how we perceive the world. I know.
One of the cool things that we've seen here in
Atlanta is that different neighborhoods have created these hearts that
you put up on your house or up in a window.
It's just like a little craft project, right, nothing special,
(10:49):
but the point is to show solidarity with others within
your community. And then on top of that when we
go out on walks or bike rides, it's a fun
little scavenger hunt to do with our kids. And not
to mention also like this thirty minute craft activity that
you can occupy your kids with. We're all looking for
those right now. It's so it's just cool to see.
I feel like we're starting to get our feet back
under us right, Like we're seeing our country kind of
(11:10):
come together where our government is taking steps ensure that
we're able to move forward, but it's it's kind of
cool to be able to see that on a local
level as well. Yeah, it really is. I feel like
community is is. We've we've done episodes on community before
and the importance of community and I feel like was
the exact title of a previous episodes. And I feel
like a community reveals its true stripes in a time
like this, like how do we care for one another?
(11:32):
And when the chips are down, that's the same thing,
you know in our families, how we love each other
when things aren't feeling amazing, Like that's a true sign
of how big and good our love is. So yeah, man,
I feel like we're seeing that in our community at least.
There's this one local band that's been uh driving around
or so someone's driving them and they're all in a boat,
a four piece band in a boat playing They're called
(11:54):
Mermaid Motor Lounge and which is an awesome name, right,
And they've been just like lighting up everyone's faces as
they tour the neighborhood in the back of a boat,
just playing awesome music. So yeah, that's been that's been fun.
And I feel like we're seeing all sorts of interesting,
cool stories like that. Right now, even in the midst
of a lot of you know, awful stories that we're
reading too. So yeah, Josh, he's one of the guys
(12:14):
in that band. They're all pretty funny folks. One of
the slogans that they put up on the boat was
We're on this boat together, which is perfectly appropriate, so
true right now. So, man, this is fun. This is
a good optimistic first half, and not that that optimism
isn't going to continue. But after the break, we're gonna
get to some listener questions. All right, Matt, we're back
(12:40):
from the break. We're gonna take a few listener questions.
Just obviously there are even more financial questions that people
have right now because there's so much up in the air,
and we'll do our best to continue to answer those
on our Friday episodes, in particularly the timely questions that
are pertinent to kind of what's happening right here now.
So Christie in our Facebook group asked this week, has
anyone read any official confermation about whether the tax deadline
(13:02):
being moved to July means that the twenty nineteen IRA
contribution deadline is now also extended to July, and man
on Friday's episode, we talked about the tax filing deadline
being moved back to July fifteenth, but what we weren't
able to speak to was whether or not IRA A
contributions could also wait until July fifteenth because the i
r S just hadn't clarified yet. And that's understandable. There's
(13:24):
there's a like of one on a going on. Yeah. Well,
so traditionally you can contribute to your previous year's roth
IRA or traditional IRA up until April fifteenth, ye, tax
filing deadline for the previous year. But now yeah, that's changed, Yeah, exactly,
And so the i r S clarified in the middle
of this week that you can continue to contribute to
your IRA until the July filing deadline and have those
contributions count for twenty nineteen. So basically, for all of
(13:47):
us out there, July fifteenth is the new April fifteenth.
And uh, and that holds true for IRA contributions as well. Yeah.
What's great about that is you can have a bunch
of cash sitting around in your high interest checking account
just in case you need to tap that money, right
and then once all this clears and it's looking like
you know what, You've got a lot of job security.
There's a lot more stability, not only in your life
but in the economy. Man, you go ahead and plug
(14:07):
that money into your wrath and listener Jordan asks, I
would love to know your thoughts on the forbearance of
federal student loans with the zero percent interest rate for
the next sixty days due to the coronavirus. Is it advisable?
I personally would just add that money into my savings
for a future payment. Jordan. Actually, in the stimulus bill
just passed by the Senate, it looks like you'll automatically
(14:27):
have your payments deferred without interest for six months. This
means for most Americans who have federal loans, you won't
need to make any payments through septemb so you're good
until October, and that could be huge for individuals who
might be in a tough spot right now. Unfortunately, this
does not apply to borrowers with private student loans. But
we'll plan to talk more about the implications of student
(14:49):
loans next week, and that gets to our next question.
This one's about real estate investing from a listener in
San Diego. Hey, Matt and Joel, this is Laura calling
from San Diego, kell Fornia. I just wanted to say
I love your show and I love craft beer, so
I'm super happy that we found each other. I wanted
to ask a quick question. We have an old four
(15:11):
oh one k lying around that we were considering putting
towards a down payment on a second rental property in
San Diego. Is this even possible? And given the current
crisis with the coronavirus, is this a time that mortgage
lenders are being more or less generous? Is it easier
or harder to get this kind of alone in the
(15:35):
circumstances that we're in. Thanks in advanced guys, I always
love to hear your show. I've learned so much from you.
Take care, Hey, Laura, thanks so much for that question.
And you know what, we are glad that we found
each other too. We filled that craft beer. It's it's
almost like one of those common denominators that can unite everyone,
especially with you being right there in San Diego, Joel,
that's were modern times is That's one of our favorites.
(15:56):
For sure. San Diego is like a craft beer hotspot.
I feel like you're running for president now on the
craft beer platform. That's what it sounds like. Have I
mentioned it recently? No, you just said craft beer can
unite us all like it just sounds like a stump speech.
It's like a uniting pillar. Well, I'm not going to disagree,
and I love for you. Well, what's funny? Actually, on
that note, we we haven't really addressed the fact that
we haven't been having beer on these Friday episodes. And
(16:17):
that's because these are going to be shorter episodes moving forward,
and you know, we still are going to have our
craft beer on our other episodes, but at least we're
now we're gonna hold off having that third beer. It's
not because I became luten intolerant or you didn't know
exactly that. But so, lord, let's go ahead and kind
of get your question. You're asking if it's you know,
possible to get money out of that four ol n
K for real estate, and the answer is yes, right,
(16:37):
it is certainly possible. However, there are a few reasons
that you want to make sure that you avoid this move.
Just like you know you're trying to avoid large gatherings
right now, you want to avoid taking money out of
a four O one k completely and um and doing
anything with it at this point. Yeah, man, that's because
you'll be locking in your losses and missing the eventual
ride back up. So obviously it depends on what you're
invested in inside of your four own K, what sort
(16:58):
of losses you'd be locking in, But in all likelihood,
if you own index funds or your in target retirement funds,
then you'll be selling at a pretty bad time to sell.
And at the same time, even though the government is
floating the idea of letting people take disbursements from their
foe own K without a penalty, right you wouldn't know
that additional ten percent penalty as you typically would if
you took money out of your investments right now, that's
(17:18):
something that's on the table. It's not set in stone yet. Well,
you would still owe ordinary income tax on that money.
And we're just not fans of tapping your tax advantaged
retirement accounts pretty much ever, but especially after the market
is seen just a precipitous drop like it has recently.
Yeah man, that's I mean, that's the whole point of
tax advantaged accounts, right like that, you get to avoid
the tax altogether, and so you're paying a steep price
(17:39):
if you want to access that money now. And Laura,
we love that you want to invest in more real estate,
especially there in San Diego. It's beautiful there. But there
are better methods of getting that down payment money, preferably
saving it up the old fashioned way, if if at
all possible. However, we've talked about this before, but a
cash out refinance isn't a terrible move if you are
using those funds to invest further. You just want to
(18:02):
make sure that you aren't over leveraged. But with mortgage
rates even lower right now, you might be able to
get an even lower rate than you currently have, say
on your primary residence. But if you take that money
and you only invest it and you're not tempted to
consume some of it, then that could be a good move. Yeah,
And and Laura asked also a question about mortgage lending standards,
and that's a good question if those are going to
change based on kind of everything that's happening right now.
(18:25):
And after the Great Recession, lending standards were raised. Lenders
had a higher bar for you to actually get approved
to get alone. Before the Great Recession, really it was
just if you came in with a pulse you got
a loan, and we saw what that led to, and
so lending standards did change a good bit, you know,
in the aftermath of that recession. But lending terms have
eased since then, with less stringent requirements for borrowers, and
(18:48):
so it has become easier and easier. And in times
of great financial distress, I think lending institutions, the big banks,
they're going to amp up their due diligence. So I
could see documentation requirements becoming more engine I could see
an emphasis on on higher credit scores becoming more important
to lenders. That remains to be seen, but that's what
happened in the last recession, and I see something similar
(19:09):
playing out here too. That's right, Joe. It'll be interesting
to see kind of what those requirements end up being
after all of this. UM. One other question we wanted
to get to Carla. She posted this to the Facebook group.
She asked, are yall canceling quote unquote luxury services? Basically,
she was asking about any sort of product or service
that you can do without. That's something we should all
consider right now. Joe and I will get into the
(19:30):
specifics of what we think about where to cut uh
in a few weeks on the podcast on an upcoming episode, Yeah, man,
I feel like there's certainly a lot to talk about
for us on the money front at this point in time,
and this week in particular. Right there, there's just a
lot of stuff that came flying our way and hopefully
our Friday episodes. Hopefully this episode is able to help
people right now, and we'll continue doing this for the
(19:51):
foreseeable future. But Matt, more than anything, we won't be
able to take care of their health of this time.
And I think maybe the more we've been kind of
quarantined into our homes, the easier it can be to
get stir crazy and to feel like you want life
to go back to normal. But there's still a lot
of danger out there for people, and so the social
distancing continuing for the time being to stay quarantined is
so important. So for for all of our listeners out there,
(20:12):
more than anything, you know, we hope you stay safe.
Obviously you're listening to our show. We want you to
be in a healthy financial position going forward, but but
more than anything, we want you to to stay physically safe,
as this virus is still having a massive impact. Yeah, man,
there's only so many monetary and financial bills that can
be passed, you know, things that can stimulate the economy
and and make sure that we get by. But at
(20:33):
the end of the day, like this is a health issue,
and the fastest way that we're all going to be
able to get back to living our normal lives is
by being healthy. So I couldn't agree more man. And
So while those are good measures to take when it
comes to being safe with our health, the biggest financial
safety measure is a high savings rate. As many of
our listeners know, we talked about this all the time. Man.
We've been encouraged to see that this show has, over
(20:54):
time help people achieve higher levels of financial security as
they take action through this knowledge. Listener Faith on Facebook,
she messaged and said, first off, I've always been okay financially,
never gotten into trouble with that, etcetera. Always earned well.
But oh my word, you guys have felt me be
in far better shape for this crisis. I'm pretty much
sailing through right now, and without your podcast that would
(21:16):
not have been the case. Man. That is so stinking
encouraging to hear the fact that we have actually changed
this individual's life. Yeah, Matt, and there have been other
posts in our Facebook group that even really tough times,
like some of our listeners have lost their jobs. Some
of them have been a dual income household and both
jobs have been lost. But I've seen multiple post in
our Facebook group praising their emergency fund. Right it's not
(21:37):
fun to use it, it stinks to have to rely
on it. But how do money listeners, I feel like,
are able to weather adverse hurricane like financial storms like
this so much better than the average person Right now?
Someone else posted that it's the uncertainty that's the biggest
struggle for them at the moment, and I think that's
how a lot of us feel. Man, That's how I
feel right now. And while we at least have this
(21:57):
stimulus package to kind of help bring some certainty, some
financial certainty right now, it's important to beef up your
savings in a time like this. That extra money really
does need to go into your savings account to be
there for a rainy day. But yeah, I will say
it is encouraging to see these responses from our listeners
and to see that, you know, how do money listeners,
more than the average American are ready to handle really
(22:20):
difficult times? Because they've been making moves based on the
podcast that we've been been putting out there. Man, it's
so awesome. And here's the other thing is that even
though we are all in this together, it's certainly affecting
us all differently. Right For some working from home and
the kids being out of school, like that's definitely an inconvenience,
But for others, their lives have been completely rocked. And
so if you're having trouble with your debt and you
(22:41):
don't have any sort of game plan for your money,
then make sure to check out n FCC dot org.
That's going to be a great place for you to
turn that's the National Foundation for Credit Counseling. Or maybe
you're having a tough time even finding some basic housing
for you, make sure to check out just shelter dot org.
They have a great state by state map for you
to find housing resources near where you live. Yeah, Matt,
(23:02):
and one other resource I think that can be helpful
to people right now if you have decent credit and
you're struggling to know how you're gonna pay some of
the bills that you have coming up, even even to
buy groceries. Right now, one of the things that I
think it's important to mention is a zero percent intro
rate credit card could be a good stop gap for
some people during this time. We've got a list of
some of our favorites up on our website, how to
(23:23):
money dot com. Obviously, it's not ideal to be putting
money on a credit card when you don't have the
money to pay your balance in full every month, but
for folks who do find themselves in this situation where
there between a rock and a hard place, I do
think a zero percent intro rate credit card is a
great place for a lot of people to turn. So yeah,
look for one of those fifteen or eighteen month zero
percent offerings and that can kind of help you get
(23:45):
through some more difficult times. So yeah, I just thought
we'd mentioned that as we draw this episode to a close.
And Jill, one other thing I wanted to mention is
have you seen this video going around of the Italian
mayor's basically like berating and yelling at their constituents, like
either like live in person like they're out walking this
three yelling at people, or a lot of them are
creating these videos. It's just it's so funny because it's
(24:07):
just so extreme, like it's so different than the way
we do things here in the US. But one of them,
like one of the guys on the on the clip,
he's talking to like I think high school seniors, I guess,
or maybe college graduates, I don't know, but he's saying that, like,
I know, there's hundreds of you that are you know,
that are going to be graduating, and some of you
want to host some parties and anyways, and he says,
we will send the police and they will be armed,
(24:29):
and we will send them with flamethrowers. Oh my gosh,
I mean, it's just so extreme, it's so funny. And granted,
like Italy is in a much worse position than we
are right now, and so I think what's good for
us to do, though, is just to make sure that
we are taking the necessary precautions right now, right like
make sure that we're washing our hands, you know, make
sure we're staying six ft away from each other, and
even staying home if necessary. You know, if you're in
(24:50):
a high risk city and and you've been instructed to
stay home except for you know, the bare essentials that
to get out and survived, and make sure you were
following that advice. Things are looking up domestic for our country,
but we don't want to have this false sense of security, right, yeah,
and we definitely don't want flamethrowers coming after us. That
that sounds crazy, But you haven't seen that video. I'm
gonna check it out. Oh yeah, I'll show to you what.
(25:11):
We'll put it up in our show notes to share
with everyone else maybe who hasn't seen it as well. Nice. Yeah,
we all need a good laugh during this time, buddy. Yes,
all right, So that's gonna do it for this episode.
And for folks who do want to check out those
show notes, well, they're available on our website at how
to money dot com. Yeah, and hopefully you found a
lot of value, right, Hopefully you've learned a lot from
listening to this episode, from listening to our podcast. If
(25:32):
you have, we would love it if you were to
to spread the word, if you were to share this
podcast with maybe a friend or a family member who
is going through a hard time themselves when it comes
to their finances especially. We're hoping that the information that
we're able to provide here will help them to get
through this hard patch. Yeah, we're all trying to get
through this together, our buddy Until next time, Best friends,
best friends, out the bo
Hosts And Creators
Joel Larsgaard
Matthew Altmix
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
The Breakfast Club
The World's Most Dangerous Morning Show, The Breakfast Club, With DJ Envy And Charlamagne Tha God!
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.