Episode Transcript
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Speaker 1 (00:09):
Hi.
Speaker 2 (00:09):
I'm Laura Vanderkamp. I'm a mother of five, an author, journalist,
and speaker.
Speaker 3 (00:15):
And I'm Sarah hart Hunger, a mother of three, practicing physician,
writer and course creator. We are two working parents who
love our careers and our families.
Speaker 2 (00:24):
Welcome to best of both worlds. Here we talk about
how real women manage work, family, and time for fun.
From figuring out childcare to mapping out long.
Speaker 1 (00:33):
Term career goals.
Speaker 2 (00:34):
We want you to get the most out of life.
Welcome to best of both worlds. This is Laura. This
episode is airing in early February of twenty twenty five.
We are going to be talking about money. So a
fun fact, many many years ago, I wrote a book
(00:54):
about money.
Speaker 1 (00:55):
It was called All the Money in the World.
Speaker 2 (00:57):
It came out in early twenty twelve, so I guess
that's thirteen years ago now, which is a while, but
I remember it well. And it happened because I had
written one hundred and sixty Hours, which is a book
about time management. And since I'm still writing about time,
you would assume that the path would be linear, but
it was not. The book was sort of slow out
(01:19):
of the gate and sort of like, well, maybe I
should write about a different topic, and like, what should
I write about? Well, let's take that sort of lens
of trying to, you know, view time as a tool
as like money as a tool.
Speaker 1 (01:29):
And we're going to write a personal finance book.
Speaker 2 (01:32):
And I wasn't quite as into it as I was
into time, and I think maybe that was reflected though
I had some fun writing that book.
Speaker 1 (01:38):
But anyway, after that.
Speaker 2 (01:40):
I went back to time, wrote more about time and
writing about time since.
Speaker 1 (01:43):
But hey, I still like the topic of money, Sarah.
You read All the Money in the World, in which
I can't believe. No, it's good.
Speaker 3 (01:50):
I mean I I actually thought I had some really
refreshing takes that aren't like standard in every money book,
and I liked it a lot. So I don't know,
Maybe you should write another money book.
Speaker 1 (02:02):
Yeah, no, probably not. I don't think I have another
one in me.
Speaker 2 (02:06):
I seem to always still have another time book in me,
but I'm not sure that I have another money book
in me. But this episode is going to be about money,
but not the normal sort of personal finance tropes. Like
nothing in this episode is going to be about cutting
out Netflix or lattes. We are going to be asking
each other some intriguing questions about money, and we would
(02:31):
love to hear your answers as well, so feel free
to let us know how you would answer any of
these questions. So first one, Sarah, are you a spender
or a saver? And how about the other members of
your family?
Speaker 3 (02:45):
I would say both Josh and I are very disciplined spenders,
so we are aware of our spender tendencies. Mine definitely
run deep. My allowance never lasted more than like a
day or two. When I was growing up, there was
always something enticing to get, whether it was like a
(03:06):
ski trip for school or a babysitter club book I
would find or make up. It didn't matter like if
there was money, I was spending it in As adults,
we've recognized that would not be a good strategy for
you know, life and long term. So yeah, I would
say we are cautious, disciplined spenders.
Speaker 1 (03:25):
And what do you think your kids are mix?
Speaker 3 (03:28):
I don't know if they'd want their tendencies necessarily shared,
but I will say there's at least one kid whose
allowance patterns look a lot like mine.
Speaker 1 (03:37):
Yeah.
Speaker 2 (03:40):
Yeah, Well, at least you guys got to the allowance
part to we never even made it there. For many,
many reasons, I was fine with giving an allowance. My
husband had a sort of really bad reaction to the idea,
and so you know, there are certain battles you pick
in a marriage, and that is not one, not a
hill I was willing to die on. So we wound
up not doing that. Though curiously, the kids do not
(04:02):
spend a lot of money. They do not seem to
have particular desires to spend everything that comes in, which
I think is partly that they're not around.
Speaker 1 (04:17):
Stores all that often.
Speaker 2 (04:18):
Maybe I don't know, but even so, I mean, my
older kids are aware that there are pricier stores out
there and still seem to be okay with buying clothes
at like Old Navy and Target and Amazon.
Speaker 1 (04:31):
So I am happy about that.
Speaker 2 (04:33):
So far, I am more a safer than a spender.
I believe Michael is also a saverer to possibly slightly
less than me.
Speaker 1 (04:44):
But it's hard to know.
Speaker 2 (04:46):
I think more it's that I had the adult experience
of running my own sort of life and household on
a very limited income, which he chose a more higher
paying initial career.
Speaker 1 (05:01):
Out of school, so I think had less of that.
Speaker 2 (05:04):
Experience, which it shapes you. But yeah, I have a
very strong tendency to just make do. But you guys
do as well. I mean you're driving cars that are old.
Speaker 3 (05:18):
Don't give away my frugality secrets because we have another.
Speaker 1 (05:21):
Second at Okay, okay, we have to get to yes.
Speaker 3 (05:23):
I mean, I think the actual question that's going to
be very interesting and telling is the one about like
if you got a windfall, because I can think of like,
what would fifty different ways I would spend it? And
you were like, I don't know what would I do
with it?
Speaker 1 (05:36):
I mean if it was well, okay, we'll get to that.
If it's a big enough windfall, I'd come up with something.
Speaker 2 (05:40):
But yeah, yeah, no, I well I was thinking about that,
like my computer, not this one i'm using now because
I actually have two laptops now because my older ones
stopped being able to run any video conferencing programming, which
just clearly doesn't work for life in the modern era.
So I bought a new one about two and a
half years ago, which is I'm using for all of that,
(06:01):
but I'm still using the eight year old one for
the vast majority of things that I can still use
it for and I was very excited that I recently
got my fourteen year old car back from my son,
which he is now driving a newer car than that.
Speaker 1 (06:18):
So it's a long story.
Speaker 2 (06:19):
Maybe that's a less frugal choice, but anyway, here we
are just generally making it do with stuff. So, Sarah,
what was one of your earliest money memories.
Speaker 3 (06:30):
Yeah, I mean I lived at a very frugal household.
I think we both share some of that. My parents
really valued saving. I think it was a point of pride,
but also kind of like a point that they felt
was like non negotiable, like this was the right way
to be. It wasn't really out of necessity. I do
(06:51):
think that many people with similar income levels spent a
lot more money than my parents did, and they did
splurge on certain things, which is sort of in some
ways mirrors how we are. Like they would pay for
very expensive violin lessons, for example, but I was only
getting like Suave shampoo, and it was probably like on
a buy one, get one free deal with five coupons
(07:11):
at CBS, so I actually made the money to buy
that shampoo. So I don't know, Yeah, just it's a
pretty frugal lifestyle. I will say, like we had weird juxtapositions,
and I've talked about this, I think on the podcast,
but maybe not for a while, where we almost never
spent any money on travel, but we would take advantage
of my dad's work travel so while spending no money,
(07:34):
I would stay in like a suite at the Ritz.
So it's like a kind of yeah, mixed bag.
Speaker 2 (07:39):
Mixed bag, mixed bag. Well, one develops a good taste
for hotels, so when that tar an initial experience, you're like,
I'm not going anywhere where they're putting schwab in the
in the shower.
Speaker 3 (07:48):
After that, yeah, so what about you?
Speaker 2 (07:53):
Yeah, well, I mean I was thinking of a couple,
but one I realized that it was what you think
as a kid, and it's you learn later in life
is not true at all. Is that sometimes people choose
to buy more stuff and then you think they have
more money because.
Speaker 1 (08:11):
They have bought more stuff.
Speaker 2 (08:13):
So I was under the impression that many people, like
other friends of mine, their parents must have had much
more money than we did because they always had, for instance,
an incredibly well stocked craft closet right like that that
there was you know, if you wanted a pipe cleaner,
you were getting a pipe cleaner. I don't think we
ever bought pipe cleaners in my entire childhood, right, But
(08:35):
they'd have like a closet full of construction paper and
pipe cleaners and whatever else. Or a friend of mine
who had like every single Babysitters Club book, Like, clearly
they must have been rolling in it to have every
single Babysitters Club book. Of course, you know now I
realized they were like what three or four dollars at
the time, and they started.
Speaker 1 (08:54):
At like two fifty.
Speaker 3 (08:55):
Trust me, I know, because that's what I was blowing
my allowance.
Speaker 1 (08:58):
That's what you were blowing your allowance on.
Speaker 2 (09:00):
But you know, so this family had bought this girl
one hundred Babysitters Club books or however many there were
by the time the series had run its course and
spending two dollars and fifty cents each, So really we're
talking two hundred and fifty dollars, which made me feel
that they must be like rolling in it, you know,
Or what am I the families that give out the
(09:21):
full sized candy bars at Halloween? Right? That is, if
you want to know a way to make your late
neighbors think that you're loaded. All you have to do
is buy like seventy five full sized candy bars, which
again it's like a dollar at Walmart.
Speaker 3 (09:34):
If that interestingly, not only is there a phenomenon in
my neighborhood where some people do it, but they do
feel they need to announce it on What's up, So
there must be some sort of status they wanted it
going on, and that weird do not give those out?
Speaker 2 (09:49):
Yeah, which is so funny because again, like it's seventy
five dollars, Like, if you had seventy five full size.
Speaker 3 (09:55):
Candy in one sitting for a kid, I'm sorry I
have Like, Okay, anyway, we'll.
Speaker 1 (09:58):
Keep moving on from that.
Speaker 2 (10:01):
But you know, later you realize that people just spend
their money on different things, and some people choose to
spend their money on things that you see or that
you might think are really cool as a kid, and
it has nothing to do with how much happens to
be in somebody's bank account. But yeah, yeah, so let's
take a quick ad break and then we'll be back
with a couple more money questions. Well, we are back
(10:34):
doing an episode on money. We are asking different questions.
We're not telling anyone to give up Netflix or lattes. Instead,
we are exploring different angles of money. So, Sarah, here's
a question. If you were to plan a weekend that
was free and fun, but free as in no new
money going out the door, what would you choose to
(10:58):
include in such a weekend?
Speaker 3 (10:59):
Yeah, I would definitely make use of nature, because certain
things in our area are really pleasant and either extremely
low cost, like you would just pay maybe a couple
dollars at the parking garage or free. And so probably
a beach morning would be a great way to spend
the day. You could bring lunch, bring food, whatever. You
(11:20):
might have to spend a couple dollars for parking, but
honestly it should be nominal, and then that would be
free entertainment, the ocean, the sand, hopefully good weather. Another
activity would be perhaps to do like some cozy reading time,
and then maybe bake something with ingredients that are already
on hand, so cookies for everyone. That always makes things fun.
And then in terms of like if I were hosting
(11:45):
or wanted to have a more festive dinner, A lot
of times we have leftover slices of pizza in the
freezer and placed in the oven. When you heat that up,
it's as good as new. It tastes like delivery. So
that's how I would have faux take out on our
free weekend adventure.
Speaker 2 (12:03):
Yeah, I feel like after we host a kid's birthday
party or somenday, because I always overorder pizza, which is
me fighting my natural tendency. I would under order the pizza,
and that has happened the first one or two times
that this did, so that I need to compensate and
over order the pizza so I don't run out. But
then we wind up with all this extra that we freeze.
So yeah, we tend to always have that in the
(12:23):
freezer as well. So I have a couple things. One
is I would go ahead and throw my open that
bottle party. So I mean, wine is not a frugal
hobby if people are into it. But some longtime listeners
know that in the course of buying our house, the
previous owner threw in his wine collection, which had not
(12:46):
necessarily been perhaps as carefully stored as one might given
the number of bottles, and it was more I think
he didn't want to have to move him.
Speaker 1 (12:55):
He was downsizing.
Speaker 2 (12:56):
We're like, okay, whatever, So anyway, we have this and
we don't drink a lot of wine.
Speaker 1 (13:00):
So what I thought would be fun to.
Speaker 2 (13:01):
Do is have people over and they could choose bottles
and open them and maybe it would be good, maybe
they would be terrible, But then I guess you'd open
another one and see if you could find a different
flavor that didn't mind the sort of slightly fluctuating temperature
and storage as much. And then you know, I'd have
(13:21):
my guests bring like an appetizer or something, so it
would be a party, but without any new cash going
out the door.
Speaker 1 (13:29):
So maybe that'll be something I.
Speaker 2 (13:31):
Will actually do it something it's very fun. Yeah, add
that as a goal for the year. I would go
for a run or walk with a friend, because, like
you said, nature is always or generally mostly free, and
there's often a lot of beautiful things you can do.
Going to the library because you know, you get the
fun of getting new books or DVDs if you're into that,
(13:53):
and I guess most people stream these days, but you
could get new stuff and entertainment that way. We would
go somewhere we have a membership, so this could even
fill two weekend slots. We've talked in the past on
this podcast about there's like five weekend slots like Friday night,
Saturday Day, Saturday nights, Sunday Day, Sunday night, so this could.
Speaker 1 (14:13):
Maybe even fill two. We have memberships at.
Speaker 2 (14:16):
Longwood Gardens, so that's you know, even if it's winter,
they've got the Greenhouse, which is fun to see. We
could go to the Zoo, which has a couple indoor
warm exhibits for like tropical animals, so that's always kind
of a fun wintry thing to do. Or go to
the Art Museum, which I also have a membership there.
Speaker 1 (14:33):
And here's the thing.
Speaker 2 (14:35):
For all three of those, I can get at least
if I plan it right, I can get free parking.
So Longwood is free because it's a giant parking lot.
The Zoo, if you're a member, you can get your
parking validated and get free, or else you can usually
find a spot on the street near there if you're
willing to walk two blocks, so that's another option. And
(14:55):
then the Art Museum is most definitely not free, but
if you perk in the garage and you are a member,
and you get your ticket validated and you are out
in sub sixty minutes, it is free, so I would
have to make a very quick art museum trip. But
the good news is that my children won't last more
than an hour anyway, so it's all good.
Speaker 1 (15:15):
We would be out of there.
Speaker 3 (15:16):
As I can imagine you're getting close to the threshold
and you're like, okay, I know you're not gonna last,
Like maybe it'd be seventy minutes, but it might as
well be fifty nine.
Speaker 1 (15:24):
It might be.
Speaker 2 (15:24):
Fifty nine, and we were gonna be in the van
and out of here.
Speaker 1 (15:28):
So I am not paying. I mean, it's like ridiculous.
Speaker 2 (15:30):
It's like twenty dollars if you like, don't make the
f So the difference between like sixty one minutes and
fifty nine is pretty large, so you want to make
sure you are out of there, so.
Speaker 1 (15:41):
Then there would truly be no new money out the
door for that.
Speaker 3 (15:45):
This is why we are different, because like I don't
even notice, Like I don't even look.
Speaker 1 (15:49):
You wouldn't notice that you had to pay twenty.
Speaker 3 (15:51):
Dollars to part. I would just be like that's how
much part? Like I don't know. I just like, yeah,
I wouldn't really register. I'm not saying that's smart, it's
just true.
Speaker 2 (16:02):
Well, there we go that baby, are our tendency right there?
I'm like, oh, it's a game. Let's get out in
fifty nine minutes.
Speaker 1 (16:07):
All right.
Speaker 2 (16:07):
So, Sarah, what is a smart financial move you have made?
Speaker 1 (16:12):
Yeah?
Speaker 3 (16:12):
So most of these have been in the last five
six years, because I'm not sure we were that smart
before then.
Speaker 1 (16:19):
I have a few.
Speaker 3 (16:19):
So one is similar to you, which is we did
luck out and get a mortgage under three percent just
before everything went really high, which also coincided with the
prices in our neighborhoods, thankfully, just before they sort of
rose a bit. So that was very helpful. Autopiloting savings
like really maxing out four h three b's and four
fifty seven's and like being strategic about that, and then
(16:43):
also like autopiloting college savings as well. I think those
are the big ones.
Speaker 2 (16:48):
Yeah, yeah, so I would say, yeah, for one of
our biggest ones was moving from New York City, which
I love New York City, but you sort of reach
a point when you are parenting small children that you realize,
you know, what am I doing to enjoy the city,
Like not that much. We're not going out to fancy
restaurants that often we're not going to Broadway.
Speaker 1 (17:10):
We're not.
Speaker 2 (17:11):
We are just here with small kids, going to work,
in daycare and the park, all of which you can
do elsewhere. So neither my husband nor I actually have
to live anywhere really, So he has to be.
Speaker 3 (17:28):
Said that, what's that, we're not location constricted?
Speaker 2 (17:31):
Yeah, I mean, we're not location constricted. He has to
go visit clients more often than I would ever do,
but like it's really hard to get them all in
such a geographical cluster that you would be driving to
all of them within an hour anyway, so you're usually
on a plane or train or what are Most of
his clients are either in Washington, DC or New York,
(17:52):
or they're on the West coast, or you know, there's
some in our area. But anyway, we could have lived wherever.
So we decide to move here, and Pennsylvania is just
a lower cost of living place. Philadelphia is a much
more accessible city in terms of I mean that parking
garage at the Art Museum would probably be fifty dollars
(18:14):
in New York, whereas it's like twenty Herod and Philly,
and you can get a house that is twenty minutes
outside downtown whereas that's a lot harder to do with Manhattan.
You're out of ways before you're getting a house with
a yard. And you know, we've been able to send
our kids to our local public school, which is awesome,
(18:35):
Like it's a good public school, and so that those
are some pretty significant cost of living differences.
Speaker 1 (18:41):
So yeah, that was good.
Speaker 2 (18:43):
But yeah, we have the three percent mortgage thing was
total luck and we are so.
Speaker 3 (18:48):
Glad that we purchased at the exact right minute. Well,
speaking of purchasing timing, let's talk about financial mistakes.
Speaker 2 (18:58):
Yeah, so a couple, I would say when it's sort
of silly because this is just opportunity cost. But I
was the kind of kid who was reading the newspaper
at my neighbor's driveway where I was waiting for the
bus in sixth grade.
Speaker 1 (19:17):
I don't know, I just looked at their newspaper. I
figured they didn't care.
Speaker 2 (19:19):
That much if I really knew frugal to read my
neighbor's newspaper, but anyway, I would look at it. And
so I was following the dow since this would have
been nineteen eighty nine, so shortly after the eighty seven crash.
If one had bought in at the time where I
started to pay attention to it. That would have been
(19:44):
well over another decade of being in in long term
investing than I actually have to have, because I was,
as it turned out, saving all my babysitting money, saving
all my Fazzoli's Italian restaurant money, saving all my Osco
drugstore money, saving all my working at a gym daycare
money for years. So that would have been an option.
(20:07):
And we with our kids, we actually give them a
bank account when they turned ten, and it is not
just a you put it in at whatever the bank
interest is. They have the ability to invest within it,
and so we're teaching them about it, and some of
them are more into it than others. That's where their
personalities comes out. Some people were like buying big Nvidia
(20:31):
and others are like money market account like CDs, like
you know, it's it's a very different risk profile.
Speaker 1 (20:37):
But giving them the tools to do that.
Speaker 2 (20:41):
I'll give another mistake in a minute, but I want
to hear yours first.
Speaker 3 (20:44):
Well it's not I mean, well okay, I have one.
There's an actual mistake and one that's just like a
oh my god, like it just kills me.
Speaker 1 (20:51):
To think about.
Speaker 3 (20:51):
But the mistake is that we did something very stereotypical
and dumb, which is we bought universal life insurance and
like twenty twenty five me is like, are you serious?
But I don't know twenty thirteen meters was very naive,
like you don't get any financial training in med school.
And I'm not saying this person was predatory, but I'm
sure they knew that we didn't really know much, and
(21:12):
we paid into that. It was very expensive for multiple
years before I was like, this is so stupid.
Speaker 1 (21:18):
We can put this.
Speaker 3 (21:19):
Like autopilot into our retirement accounts. It won't get tax,
it will grow, and this vehicle is not going to
do those things. So we got out and that's good,
but it was a mistake. And then the other thing
is not really a mistake. This is more like failure
to predict the future. But the timing of our sales
of our home. We had an episode where I talked
about renting you guys, we could not give that house
(21:41):
away in Miami Beach. And now, I mean the market
values are like triple what we sold it for. That's
a lot that's like a meaningful amount of money to us,
like it would mean a difference in terms of like
college funding, in terms of retirement, Like it would have
been a life changing thing had the timing been different.
And that's not a mistake because how did we know that, right, Like,
there were real estate agents that were coming by saying
(22:03):
this area is done, it's going to be underwater, it's
only going to get wars from here. While it turns
out they were super wrong and it's unfortunate.
Speaker 1 (22:11):
Yeah, yeah, no, we had that too.
Speaker 2 (22:14):
We sold our first apartment in New York in basically
two thousand and eight, yes, right, like in the financial crash,
and New York was like ooohh. We didn't lose money
on it, right, Like, you sold it for like a
couple like a little bit more than what we paid
for it, and it took a while for it to
(22:36):
come back. Like I'm not sad that we didn't hold
on to it trying to rent it out or anything,
because I think it would have been quite a.
Speaker 1 (22:43):
Hassle to do that.
Speaker 2 (22:46):
But yeah, it was definitely the bottom of the market
when that one went out, So yeah, you can't time
these things. I Mean the upside then is and we
bought this house right before prices took off, so it
was in the low of the pandemic, and that sometimes
you win, sometimes you lose.
Speaker 3 (23:06):
Yeah, thankfully, I will say I think we did pretty
well with the purchase. We waited a little bit and
we got it just in time, so at least we
didn't kind of get it on both Yeah.
Speaker 2 (23:15):
Yeah, And in terms of a smaller one, I've definitely
bought things on sale that turn out not to be
that great, but it's just like, oh, but it's on sale,
but it's still money out the door. So the fact
that you got a one hundred dollar item or what
they're calling one hundred dollar item for twenty five dollars, like, if.
Speaker 1 (23:36):
It's not actually really truly worth.
Speaker 2 (23:38):
Twenty five dollars to you, then it's it's still a
waste of twenty five dollars. So I just always try
to tell myself, and I've gotten better about it. If
you would pay full price for this and then you
get a discount, that is good.
Speaker 1 (23:55):
But if you are only buying.
Speaker 2 (23:56):
It because it is on a discount, you probably don't
really want it.
Speaker 3 (24:02):
Totally agree. I basically never buy clothing on sale. I
think the only situation I would is if I wanted
a duplicate of something I already owned and it happened
to go on sale and I already know I loved it.
Speaker 2 (24:11):
That's like it Yeah, well, this is the one where
my husband's sort of funny tendencies come out because he
buys stuff at the Nordstrom anniversary sale every year. What
if it happen like twice a year or something, and
it's always like he likes Hugo bas and it's like
but he will buy whatever was on sale, and so
it's like it won't even fit him.
Speaker 1 (24:29):
I mean, it will literally be a shirt that does
not fit him.
Speaker 2 (24:33):
Or there's just like some blazer that had like weird
trim on it that like didn't you know, so you
either have to return it or then you know, one case,
we want to like donating stuff, and it's just like okay,
like if you want something from there, just buy a
few things from there. Like don't buy whatever was left
over that they're getting out on the sale.
Speaker 1 (24:55):
You don't even it's not gonna Work's.
Speaker 3 (24:57):
Totally agree first bender, I'm either like I'm buying nothing
or I'm buying like exactly what I want and like
not that in between gray area and I've made those
mistakes as a younger person, but not in the last
decade or so.
Speaker 2 (25:09):
Yeah, all right, we're gonna take one more quick ad
break and then we'll be back with a little bit
more about money.
Speaker 1 (25:26):
Well, we are back.
Speaker 2 (25:27):
We were talking all things finances. We're doing money questions,
but nothing that involves giving up Netflix or lattes. So, Sarah,
this may be our different question here. If you received
a windfall, what would you change about your life? And
then I realized I hadn't put a dollar amount, so
it's left up to personal decision.
Speaker 1 (25:45):
How much is this windfall?
Speaker 3 (25:46):
It's a million dollars, It's a million dollars, Okay, all right,
I would do a lot.
Speaker 2 (25:50):
Okay, all right, what are we doing with our millions?
Speaker 1 (25:55):
Sarah?
Speaker 3 (25:56):
I'd probably convince my husband to replace his car, okay,
because it's old. I would surprising people. I would actually
get nicer furniture for our house because I don't want
to spend my money on it. But if I happen
to like have extra money, I think it might be nice.
I would hire an organizer.
Speaker 2 (26:12):
Oh wait, wait, here's the thing, because once the money
came in, it is your money, right, Like, this is
the But are we saying, like Daddy Warbucks is out
there being like, I will run my card for this furniture, Like.
Speaker 3 (26:22):
What is million showing up and like to be spent? Okay,
I'd hire an organizer. I would what did I write? Oh,
take more lavish vacations. I mean I would take similar
vacations that we take, but like instead of kind of
maybe doing a cheaper one in between fancy ones, they
would just all be really nice.
Speaker 2 (26:42):
Yeah.
Speaker 3 (26:42):
I would definitely be like four seasons, nice hotels, et cetera.
And I would get weekly massages. Yeah, that's nice. A
weekly massages sounds good.
Speaker 2 (26:54):
But the prom is, Sarah, it's the time, like two
time time in your schedule.
Speaker 1 (26:58):
Okay, you do have time in your schedule for a week.
Speaker 3 (27:00):
I would find it.
Speaker 1 (27:01):
You would find the time.
Speaker 3 (27:03):
I would go on one less run, but.
Speaker 2 (27:07):
You don't want to go on one less run. You
still want to Boston qualify. Like here's the problem. So
this is okay, because this is where we get to
why am I?
Speaker 1 (27:15):
Okay?
Speaker 2 (27:15):
If I got like one hundred billion dollars, Like, would
it be fun to own the Phillies?
Speaker 1 (27:19):
Sure?
Speaker 2 (27:19):
Okay, Like, but that's if we're talking more like a
million dollars. I mean, it'd be wonderful to be welcome. Sure,
I mean I'd take it. I'm not turning it down.
But the problem is more like time is optimized right now,
and there are very few more levers to push on that,
Like I can pay for more childcare now, Like if
(27:41):
I want to pay for five more hours of childcare
right now, I could do that.
Speaker 1 (27:45):
My kids don't want it, like they want to be with.
Speaker 2 (27:47):
Me right like, so I need to deal with that
reality that I've already have childcare to cover X number
of hours and that is what I can do with
the amount that my kids still want me to be
doing stuff with them. So that's the problem. That's what
I kept coming back to. I was like, well, i
would like to take more trips, okay, but I'm traveling
(28:11):
with the school schedule, like we already travel when the
kids are out of school. I mean, maybe I would
stand like a slightly nicer hotel, but that wouldn't materially
change what I was doing.
Speaker 3 (28:22):
You know, true, true, Yeah, these are tweaks. I mean,
none of this would materially change, right, Like a new car,
Like okay, I'd still be driving, but it would be
like a little nicer.
Speaker 1 (28:31):
Yeah, you're right.
Speaker 3 (28:32):
I mean none of this would change. The massages would
probably change my lifestyle more than any of the other
things I listed. I still think I'd find time.
Speaker 1 (28:39):
You'd find time, Okay, well.
Speaker 2 (28:41):
Because she'd be less worried about teaching that extra course
because or I would.
Speaker 3 (28:47):
Oh well, that is an interesting question. Would I do?
Would I somehow? I don't think a million dollars would
be enough, but if I could somehow like buy myself
out of most of call, that would be.
Speaker 1 (29:01):
Yeah. Well that's again it comes down to time.
Speaker 3 (29:04):
You're right. There's trade offs there, and it's like, oh,
I'm not being a team player like my colleagues.
Speaker 1 (29:09):
Like you, and you value your relationship.
Speaker 3 (29:11):
I do value that, You're right. So these are complicated.
Speaker 1 (29:13):
Yeah, I know, I know. That's why I was a
It's a great question. It is a big question.
Speaker 2 (29:19):
So you know, if somebody wants to give us a
million dollars, I'm shore we'll figure out something, all right,
So Sarah, next one, Allah the Frugal Girl. All right,
so both of us read Kristen the Frugal Girl her blog.
It's wonderful she does five frugal things. So what are
five frugal things you have done lately.
Speaker 3 (29:37):
Yeah, this was fun.
Speaker 1 (29:38):
Okay.
Speaker 3 (29:39):
Number one. I eat leftovers whenever they are available, because
that solves two problems. It's good for the environment, and
it's good for the grocery budget. I shop at Trader Joe's.
I find this very frugal because honestly, anywhere else I
shop seems to cost at least one hundred dollars more
every time for like the same stuff. So I find
that habit to be frugal.
Speaker 1 (29:59):
Oh.
Speaker 3 (29:59):
I have frugal fun every morning with the New York
Times games. I'm not a subscriber, but Connections is free,
the Mini is free, Wordle is free. It's ten really
fun minutes of every morning that costs nothing. I love that.
Speaker 2 (30:11):
I probably should put that behind the paywall, given I
think the proportion of visitors to their website who are
going to like play Connections and word all and all that.
Speaker 1 (30:19):
Yeah, don't tell.
Speaker 3 (30:21):
Them this, okay. Number four? Oh, well, you said this
was not going to be about lattes, but you didn't
buy a lot I talked to No, We've talked about
like my allowance and how I want to buy more,
like upgrade my clothes. This year, and I did an
analysis of what I was spending last year, and like,
I still enjoy Starbucks, but I was going to the
point where I wasn't even like enjoying. It was just
(30:42):
more like a given. So most days I've just switched
to drinking in the office coffee pat and you know
what it's I really just want the caffeine and the
hot liquids. So it makes me pretty much just as happy,
and it's like six dollars less every time. I still
want to go to Starbucks on occasion, but I think
it'll actually elevate it for when I do go. And
then finally, I do feel like we deserve a little
credit maybe for the twenty eleven prius that we still have.
(31:08):
My biggest worry about this is that like that car
is going to need replacing at the same time that
like we want to get a car for Anabel, and
then we'll be getting like two cars at once, which
will be silly. But yeah, maybe we can get a deal,
yeah package deal two cars.
Speaker 2 (31:22):
I don't know how many dealers are doing it too,
for one, specially by one get one not a thing,
all right, okay, all right, so I may have to
modify mine here, but one my cheaper and faster than
takeout meals, So I came up with I tend not
to order in all that often, partly just because it
(31:44):
takes a long time for the stuff to comment. If
I'm hungry, I'm hungry, So especially if I'm just on
my own and I was like, I need something to eat,
I make an omelet with pepperoni or cheriso, because those
are spicy meats and off and one of the reasons
people like restaurant meals is they tend to have bolder
flavors than whatever you cook at home.
Speaker 1 (32:05):
So if you are trying to recreate.
Speaker 2 (32:07):
That, you want to make some spice in your meal
mixed with the vegetables and mabe chopped up fruit on
the side. But anyway, it's ready in ten minutes or
less and taste good fills me up. So I have
resorted to that several times instead of calling for delivery,
I am signing my kids up for vacation Bible camp.
(32:32):
So if people are looking for low cost options, many
of your houses of worship in your area will have
a week of vacation Bible camp and you are not
required usually to be a member of that house.
Speaker 1 (32:49):
Of worship.
Speaker 2 (32:49):
No, obviously, if you have a completely competing religion, perhaps
you do not wish well, you know what I mean,
like totally incompatible, because it will be teaching about yes,
like the Jesus will come up, I mean, you know,
in the course of the week.
Speaker 1 (33:06):
But it tends to be pretty inexpensive.
Speaker 2 (33:10):
So if you're looking for a week of not putting
much money out the door, sending a lot of kids
to that is always a win. Although my older two
boys are gonna have pretty cheap summers overall.
Speaker 1 (33:22):
I am signing.
Speaker 2 (33:23):
Sam up for two courses that are run through our
school district for summer school, so that's very cheap since
obviously we are members of the school district, and I
think Jasper is going to be working. So that's It's
the opposite of yeah, the opposite, the opposite of expensive,
So yay for that.
Speaker 1 (33:45):
This I don't know, this is sort of a mixed bag.
Speaker 2 (33:48):
We decided not to travel over President's Day weekend, and
in the past we have done sort of bigger trips
over that, either skiing or we've gone to Disney, but
it was just like we couldn't get ourselves excited about
anything this year, not everyone wanted to go on a
big ski trip, so we're probably just going to do
(34:08):
like local day trips to a couple of the Pocono
ski places. So we already have the the season pass
for Blue Mountain on the Epic Pass goes to a
couple places around here, and so just use those. So
it really won't be much money out the door for
that weekend.
Speaker 1 (34:27):
So I guess that is.
Speaker 2 (34:29):
I mean, we're not making the memories of going to
Utah together as a family, but.
Speaker 1 (34:34):
Maybe we can make memories of the Poconos.
Speaker 3 (34:37):
I have lots of memories of the Pokemon, memories of
the Pocados, Sarah.
Speaker 1 (34:41):
And then I'll throw one in that is not really frugal.
Speaker 2 (34:45):
But so we've done Eagles tickets lately to go to
the game, and I was watching they've made the playoffs.
Speaker 1 (34:55):
This is after as well.
Speaker 2 (34:56):
Who knows how it turned out for all us, But
I was watching the resale sites very very carefully and
knew roughly what the prices were, and I managed to
find tickets that were quite a bit under what some
of the others were, and I knew that they were
going to go immediately.
Speaker 1 (35:16):
So as soon as I saw them, I bought them.
Speaker 2 (35:18):
But the outside is that I am I paid probably
half what other people in the section will pay.
Speaker 3 (35:24):
You traded time and attention for money, and in that
case it was worth it.
Speaker 1 (35:27):
In that case.
Speaker 2 (35:28):
That case is where it is a big ticket item.
So I think it was you know, if it was
something you wanted to do.
Speaker 3 (35:33):
Oh yeah, you were doing it anyway, and you were
like much, I'm going to invest at least whatever hours
of checking and then see if it pays off and
you roll the dice in it.
Speaker 2 (35:41):
And it wasn't that many hours, like because you know,
I mean, like there's only a week between knowing somebody's
going to the next round of the playoffs and then,
so you know, you couldn't spend that much time on it.
But in terms of spending.
Speaker 1 (35:53):
An hour on it, it was a good hour.
Speaker 3 (35:55):
Yes, probably probably a decent hourly rate. Actually, yes, a
decent hourly rate. I don't want to call that girl moth.
Speaker 2 (36:01):
But it's not quite as much as if I were
up on stage giving a speech. But for a regular
hour of work, yes, yes, definitely worth it.
Speaker 1 (36:10):
All right.
Speaker 2 (36:11):
Well, moving to the question part of this, So this
question is that Laura tracks time but not spending. Sarah
trecks spending, but usually not time. She has done it
on occasion.
Speaker 3 (36:25):
Discuss it's very helpful for us to track spending because,
as I said, we sort of need that conscious layer,
like I like particularly I mean on certain categories. I'm
not sure it matters as much. It just makes me
feel more comfortable, like knowing that like the pieces do
fit within our cash flow. But then in other areas
it actually does influence behavior, specifically areas like my allowance
(36:47):
or even like the kid's clothing, Like we have a
budget for that, and if we're at the end of
that the kids are asking for stuff, I'm like, no,
Like I can see we already spent whatever on your clothing,
and that's I don't want to go beyond XYZ. So
for us, it's just really helpful. I don't have a
reason I don't track time other than I find it
really hard. So in an ideal world, I think it'd
be great to track both. I just like can't.
Speaker 2 (37:09):
Yeah, yeah, well, I just find time sort of interesting
because you're always working with the same amount every week,
and so it's like you keep getting that opportunity to
play around with the same pieces. I mean, income is
more variable, I guess for us, so it doesn't have
(37:30):
that same satisfying like these are the same pieces I
have to play around with now. Because we are frugal people,
we tend to build our sort of regular expenses on
what we know would come in, right, so not the
variable parts of anything, and then base it on that,
and so then there tends to be enough space that
(37:52):
I'm sort of not as worried about the smaller purchases,
which again, remember we just don't go spend money.
Speaker 1 (38:00):
Really that much.
Speaker 2 (38:01):
I don't know, my life is not frugal versus like
I'm sure what I mean. You know, we have full
time childcare, kids are in a ton of activities, but
in terms of sort of smaller expenses, I guess that
just doesn't seem to be where the money goes out,
and so I haven't bothered tracking it.
Speaker 3 (38:22):
Yeah, No, that makes sense.
Speaker 2 (38:24):
Yeah, all right, Well, Leff of the week, I guess
we've been talking about a lot of different Love of
the weeks. I'm going to say coupon codes, which it's
less of a thing now than during the glory days
of internet shopping, you know, the early times of it,
where you would hunt around and find a coupon code.
But if I have actually gotten to the checkout spot
(38:46):
of a retailer, I have not used frequently. It is
generally at least worth hunting, because sometimes there's at least
a ten or fifteen percent code out there somewhere, and
you may as well use it if you were going
to pay full price getting the ten they're fifteen percent off.
We also buy a lot of stuff as Shutterfly, and
it's definitely worth looking there. They always have some like
(39:06):
forty to fifty percent coupon code.
Speaker 1 (39:08):
I see.
Speaker 2 (39:08):
Their prices must not be like what their actual prices are.
They're like, let's see if anyone ever pays this.
Speaker 3 (39:14):
The best Shutterfly coupon is the one that's unlimited book pages,
because often that's actually like eighty percent off. It's amazing.
Speaker 1 (39:20):
Yeah, yeah, if you're doing like one hundred page book,
that's a yeah. I don't know. If you didn't put
that in, you.
Speaker 2 (39:24):
Would really be We did do like three books once
for what it had told us one book would cost.
Speaker 3 (39:32):
I will also sign up for the free not free
like you know when they say, oh, twenty percent off
if you sign up for texts. So I'll sign up
for text, get the code, and then immediately right stop
so the texts go away. But like, hey, I'm playing
the game, playing the game, all right, what do you have, Sarah,
Lululemon socks. I'm not sure how for who they are,
but they are just they just last and last and last,
and they're my favorite socks. I wear them all the time.
(39:54):
I think they're the like actually I don't know which
one speed something socks, but they're great.
Speaker 1 (39:58):
Yeah, excellent.
Speaker 2 (40:00):
All right, Well, this has been best of both worlds.
We've been talking all the money in the world. In
case anyone who wants to check out that book that
I wrote in twenty twelve, you might be able to
find it on Amazon at least, but anyway, we will
be back next week with more on making work and
life fit together.
Speaker 3 (40:17):
Thanks for listening. You can find me Sarah at the
shoebox dot com or at the Underscore Shoebox on Instagram,
and you.
Speaker 2 (40:25):
Can find me Laura at Laura vandercam dot com. This
has been the best of both Worlds podcasts. Please join
us next time for more on making work and life
work together.