July 15, 2025 • 25 mins
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Episode Transcript
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Speaker 1 (00:01):
Welcome to the Fiscal Physical Podcast.
Join us each week as we sitdown with the founder of Alchemy
Wealth Management and author ofyour Fiscal Physical, Ryan
Nelson.
Tune in to gain valuableinsights and practical tips as
we simplify complex financialconcepts into digestible lessons
(00:22):
.
From budgeting to retirementplanning, this podcast is your
go-to resource for masteringfinancial literacy.
Aaron Hoisington (00:33):
Welcome everybody to this week's episode
of the Fiscal Fiscal Podcast.
I am joined, as always, by MrRyan Nelson.
Ryan, how are you on thisgorgeous day?
I'm doing well today.
How are you doing, aaron?
I'm doing terribly, you know.
No, I'm you doing, aaron?
I'm doing terribly, you know.
No, I'm just kidding dude, I'mdoing great.
Man, it's always a pleasure tosit down with you here.
Do some fiscally physicaltalking.
(00:55):
I don't know if that made sense, but yeah, we're ready to get
into this episode here.
We're cruising right along here, man, does it feel like
yesterday?
We just started this?
Or feel like, uh, you know,like a year and eight months?
Ryan Nelson (01:07):
a little of both a little column, a little column B
.
I think at times this he feelslike it's flies right, it's like
everything right.
Aaron Hoisington (01:13):
Sometimes it feels like it's been so long ago
that we recorded the firstepisode and I'm just like holy
smokes, like that's like one ofthe you know, you think about it
.
I was like that's one of thelongest relationships I've had
in my life over that time ofyear.
(01:35):
So it's pretty fun.
But appreciate it, man, asalways, and we're going to dive
in today.
This is something I was reallyexcited to get to this episode
here to talk about subscriptions.
Actually, shout out to my wife,adriana, who suggested that we
do something on subscriptions,because recently her and I have
looked to kind of do someauditing on our finances and
(01:58):
such too, and we kind of werelooking and we're just like, oh,
wow, we pay for a lot ofsubscription services.
Like what's going on here?
And so I was diving into thisand checking it out and it's
interesting.
You think about subscriptionservices, subscription overload,
if you will and I was Googlingthis and it talked about it
being like a silent killer offinances and I was like, well,
(02:20):
that's an interesting way to putit.
But I mean, I think we've allkind of been there where we I
think we've talked about it onthis podcast too about like your
chestcom.
Ryan Nelson (02:28):
Oh, yeah, absolutely it might be.
Aaron Hoisington (02:46):
So I think it's a good thing to break down
and potentially provide someadvice or insight on how some
person can manage theirsubscriptions in the best
financial way.
Ryan Nelson (02:50):
Yeah, let's do it.
So maybe before we dive in.
So yeah, I feel like gyms werelike the original subscription
service, but yeah.
So what I think is almost maybea little interesting is like
why?
So subscriptions almost feellike this new thing that we've
been semi inundated with overthe last like decade, right,
like I don't think they were asprevalent before that.
(03:13):
So why do you think thesebusinesses are offering
subscriptions?
Aaron Hoisington (03:18):
Yeah, it's a good question.
I feel like in some casethey've, they've subscriptions
have always been there.
I think about magazines orsomething when I was growing up
Like, oh, we got NationalGeographic in my house and such
too.
But I feel like one of thereasons is subscriptions.
People just kind of forgetabout them.
At the same time, though,sometimes I'm getting a good
(03:42):
product out of it.
I think about Apple TV, forexample.
I don't really watch a lot ofthings on that, but I downloaded
that Exactly.
That's exactly what I was goingto say.
I watched season one on that.
I deleted Apple TV, signed backup when season two came out and
I did it again for season threeand I'm just like, well, you
know I'm paying for this.
(04:03):
I don't know.
Ryan Nelson (04:10):
It season three, and I'm just like, well, you
know, I'm paying for this, LikeI don't know, Like it just gets
you Absolutely.
Yeah, I mean, I think.
So.
I think the reason whysubscriptions are so prevalent
is like they make financialsense for the selling company,
right, the selling company ismaking money and they think they
can make more money by sellinga subscription than selling an
annual cost or a project paycost or something like that.
And so I think, ultimately, youknow, it makes financial sense
for the business.
And why does it make financialsense for the business?
Because they're able to billyou a smaller amount per month,
(04:32):
right.
So maybe it feels a little morenominal if you're billing $5 or
$10 or $15.
And so, like you said, it's alittle bit easier to just kind
of forget about and you say,well, maybe I'll think about you
know, maybe I'll watch, maybeI'll finish.
You know I watched half of TedLasso, maybe I'll watch the next
half of the next month, so I'lljust keep it for now, and then
you kind of forget about it.
It's like, well, just anothermonth, I'll just keep it a
(04:53):
little about it put it out ofsight out of mind, which can
again be dangerous.
(05:14):
Why, when you wake up one dayand you're like wait, I have
like 70 different subscriptionssomehow right, just for
streaming services.
But and then again they can feelsort of uh, low cost, right, so
, um, like I saw on your notes,you had mentioned um like death
by a thousand cuts.
I think that was a gooddescription, right, like it, may
each individual one may onlyrepresent 15 bucks, but then
(05:37):
when you have 20 of them, thatadds up to a chunk of change,
right, um, so yeah, so yeah,they do.
They're kind of small.
I'll put an air quote smallerand feel sort of harmless and
it's easy for you to just kindof mentally justify oh yeah,
it's only like 15 more bucks, Iwant to watch it.
Aaron Hoisington (05:53):
And it's funny because, like you mentioned,
like you mentioned, like thefive bucks, if I see something
for $4.99, that is a stealautomatically for me.
I'm like, oh, that's under fivebucks, I feel cool, I'm good
with that, no problem.
Like so if I, if something'slike $4.99, I'm pretty pretty
pro buying that or getting thatsubscription.
Like, if I see, oh, it's onlygoing to cost five bucks and I
(06:14):
can do this for a month, thenI'm almost like I'll just cancel
this later or whatever too.
But like, never have, no, neverhave, same with $9.99, less
than $10.
Ryan Nelson (06:27):
And I'm just like, hmm, there's a psychological
piece of that that just hits me.
Yeah, so a lot of people itauto-renews.
They say, oh, I'll use it later.
They can just kind of forgetabout what they have.
What's interesting, though, ishere I pulled some data.
This is another one of thosepieces of data that it's like I
don't really trust, but it'sprobably directionally accurate,
accurate.
I don't even know where to go toget good data on this.
But what's interesting is sothe average American estimates
(06:51):
they spend around $86 a month onsubscriptions.
So $86 a month.
What I find interesting, so ifyou go ask that random person
how much money do you spend permonth on subscriptions, they're
going to say $86.
What I find interesting is theaverage person actually spends
$219.
So there's a huge disconnectAgain.
Are these numbers accurate?
I don't know, I'm going to justgo out on a limb and assume
they're not, but hopefullythey're a bit directionally
accurate.
Yeah, and so what that means ispeople are underestimating by
(07:12):
like two, almost three timeswhat they have in subscriptions.
And that's exactly it.
If you have 10, 15, 20 of thesedifferent subscriptions, each
at 5, 10, 15, 20 bucks, you losetrack of them and you actually
don't realize what you'respending.
Right, and it is easy to add up.
You know we, you have yourclassics which are like the um,
the streaming services, stufflike that.
But you can have like an eye,you can get them for your iPhone
(07:34):
.
You can get a bunch of appsthat have subscriptions, right,
there's, they're just likeseemingly everywhere now.
So it is interesting A lot ofus are spending a lot more money
than we actually think onsubscriptions, which is
interesting.
So if the average American isspending $219 a month, imagine
what that could do in your Roth.
Oh, yeah, oh yeah, oh yeah, socool.
So that's a little bit aboutjust subscriptions in general,
(07:55):
but let's talk about if you'relike yeah, I know, ryan, I got a
lot of subscriptions and yeah,I get it.
Yeah, then you know.
So, like next steps, it'd belike, well, you got to audit
sort of what you have right, andso the easiest way is to track
everything.
And so one good way of trackingit is through your credit cards
and your bank statements, andevery financial transaction you
(08:16):
made is probably transactingthrough one of your banks, and
those banks all keep records foryou on your behalf.
They do so even if you haven'tbeen keeping track of anything
and you're like all keep recordsfor you on your behalf.
They do so even if you haven'tbeen keeping track of anything
and you're like I have no ideahow many subscriptions I have.
I would say that's probablyfair and reasonable.
But you could go back to yourbank right now and your credit
card company pull all thosestatements, look back three
months, four months, six months,and start to sort through and
(08:41):
start to figure out whatsubscriptions you're actually
paying.
There's also some cool personalfinance apps's like rocket
money, monarch, uh, co-pilot, umynab.
They can sort of automate thisfor you.
You link your bank to them andthen they do this effectively
just this audit for you manuallyor automatically?
Aaron Hoisington (08:54):
Have you ever done any of those services
yourself?
I'm just purely curious.
I used.
Ryan Nelson (08:59):
What was it called?
Was it Mint?
Aaron Hoisington (09:03):
I don't think that exists anymore.
I think it got bought out by.
Ryan Nelson (09:05):
Well, I think Intuit just shut it down.
Honestly, I can't remember Iused Mint back in the day.
Honestly, it's been so longthat I don't Sure.
I don't For all intents andpurposes no yeah, I was just
curious.
Aaron Hoisington (09:18):
I never have either.
I see the like.
I saw it actually funny an adthe other day when I was
watching TV yeah, and itmentioned like a subscription
service thing and like where itwould audit all your stuff and
like put it into like a sheetfor you and organize it and all
these different things, and Iwas like it might have been one
of these ones.
Do they charge a subscription?
They probably do.
I would bet they do.
I would bet they do as well.
(09:38):
Yeah, where do I categorizethat?
Ryan Nelson (09:41):
Yeah, but or no?
So what I do?
I go the old fashioned way andI go pull these bank statements
and I put it into a spreadsheet,which you know.
Honestly, these personalfinance apps are probably a
better use of my time, but Ilike spreadsheets and I don't
mind the manual work there, so Ijust use.
Excel.
But once you get into like, say,excel, if you're not, if you're
(10:01):
not, if you're going to go theold fashioned way like me, then
you want to sort of startcategorizing it so like, look at
, like, what are you paying forsubscriptions from entertainment
, utility, gym right, health,like fitness business?
So obviously I have a ton ofsubscriptions for my business,
and then just like kind ofrandom stuff.
And then you can start to figureout like you might look and you
might say, oh yeah, paying 10bucks a month to be able to
(10:26):
watch Ted Lasso soundsreasonable.
And then you start looking andyou're like man, between Amazon
Prime and Netflix and Hulu andwhatever else, you're like God,
I'm actually paying like $80 amonth for TV and maybe I don't
watch it very much.
So you start to get a real feelfor what you're actually paying
and then how it aligns withyour values and if you want to
keep you know if it's worth itto you or not.
So the three questions I wouldask once you do that
(10:48):
categorization, I would say youknow, do I use it regularly?
Is it improving my life?
Would I buy it again today?
I like this last question WouldI buy it again today.
So there's so many things whereyou know maybe you have this
subscription going and you'relike, well, I already have it,
I'm just going to leave it, butit's like would you pay for it
today.
Like if you were given thechance to sign up for it today?
If the answer is no, just goahead and cancel that thing.
(11:08):
You know what?
I probably all cut out a bunchof subscriptions if we were to
subscribe by that.
So basically, your decisionswould be like just cancel this
thing immediately.
So if you see it showing up,you're not using it.
You're not utilizing it, justcancel it.
Otherwise, a lot of times youhave options to either pause or
(11:29):
downgrade, and so sometimesyou're in a higher subscription
than you necessarily need.
We use Notion to organize ournotes here.
I recently downgraded my Notionmembership, so I was at one of
the higher memberships and now Iwent down to the free
membership and so that was justan opportunity to cut a cost
where I wasn't using theoriginal functionality.
Aaron Hoisington (11:46):
Which we would gladly re-upgrade if Notion
sponsored the podcast.
So if anybody out there fromNotion is listening just keep
that in mind.
Ryan Nelson (11:54):
Anybody wants to subscribe for $4.99?
.
Aaron Hoisington (11:58):
We'll take the call.
Ryan Nelson (12:01):
Yeah.
So I think there's someopportunity there for sure.
And then just tips movingforward.
I'd say this is the type ofthing that is just out of sight,
out of mind and you're like, ohyeah, this is maybe a good
reminder.
I'm going to go tonight andlook at my stuff.
You pull the spreadsheet, youadd and subscribe from a couple
of things and you're like, cool,that was useful and awesome.
And then it's out of sight, outof mind and you don't do it
(12:22):
again.
Right.
So like to be a real nerd aboutthis.
I mean, you could put acalendar reminder to do like a
quarterly review of doing thisRight, and the more often you do
it, the easier it is Right.
So if you did it everyquarterly, hey, it's going to be
a small lift every quarter, butyou stay on top of it.
Another cool idea I've neverbeen disciplined enough to do
this, but it's a cool idea isyou could have like a virtual
(12:44):
card or a credit card or a debitcard specifically for
subscriptions and put nothingelse on it right, so you just
have the.
You just say, yeah, this creditcard I don't use for anything,
I'm just going to make this mydedicated subscription card and
then you can go put it on everysingle subscription on this card
.
Now it's really easy.
You know, it's that wholeexercise I said to do before,
where you have to download it,categorize, do everything.
(13:05):
Well, now you just pull up yourone credit card statement and
it has every single subscription.
Aaron Hoisington (13:09):
you have and nothing.
Ryan Nelson (13:10):
That's not a subscription right.
So if you have a credit cardgoing, I don't know you'd have
to listen to some of our otherpodcasts to see if it'd be worth
it to actually get a new creditcard.
There's pros and cons that comewith that.
But if you have a credit cardgoing spare that you're not
using and you want to kind ofclean up your finances, these
are small tweaks you could makethat, make the organization of
your finances easier long-term.
And then, yeah, just logging inand seeing like, oh, I had
(13:31):
eight transactions this month, Ihave eight subscriptions.
What?
Speaker 1 (13:34):
are these?
Oh, this one I haven't used intwo years.
Ryan Nelson (13:36):
Let's cancel it, right, so that'd be something
interesting.
This is an homage to what youmentioned earlier.
If I'm using that word, right,which I'm probably not, I'm a
financial advisor, so you don'tspeak French.
Yeah, avoid free trials, right?
That's the classic example.
So you mentioned my chesscommembership.
(13:59):
I'll, I'll, uh, I'll give thequick, uh, the quick down and
dirty of that story real quickhere for those, uh, new
listeners.
But, um, so, yeah, I, Idownloaded, uh, you know, I had
a I, I I quote, unquote got intochess for like a day, right.
And uh, so downloaded or so gota, created a chesscom app, uh,
subscribe or like signed up forthe free membership for like a
month.
I think I proceeded to log intochesscom like either zero times
or one additional time in mylife, right, so I'd never used
(14:19):
it.
But so once this free, you know, whatever the, the free trial
like expired or terminated, thenit put me on their premium
membership or whatever, right,so it charged me like 99 bucks
and I was like, oh, my God, theygot me Right.
And then, uh, and then so I waslike, well, whatever lesson
learned, like that's my faultfor not being diligent about
(14:42):
this, right, and then so, uh, asthe story goes, a year later,
um, I'm looking, so I canceledthe membership, and everything a
year later comes and theycharged me again.
I'm like what the heck?
And I had just forgotten tocancel it again.
Right, it was just like, well,yeah and uh.
So now, at this point, I dobelieve that is canceled.
Yeah, I have to check though.
Yeah, but yeah, it's just agood example of it's so easy.
I mean, there's a reason whythey do free trails Absolutely,
(15:03):
they want to hook you, and soeven they didn't even hook me.
I didn't even ever log in, but,like their system, auto renews
and does everything, and so ittook my action to actually log
in and unsubscribe, and Ineglected to do that, and so
they got an extra 200 bucks outof me, which was my own silly
mistake, but also Good for them,I suppose.
Speaker 1 (15:23):
Yeah.
Ryan Nelson (15:25):
So just be aware of those free trials.
Don't pull a Ryan and sign upfor chesscom.
And then there are so youmentioned this earlier.
There are these third-partyservices.
So I've never used any of these, but two that I've heard of are
Trim and Rocket Money.
They can help, like you weresaying, identify subscriptions
specifically and help youunsubscribe, supposedly.
(15:47):
Again, I've never personallyused one, so I don't know
exactly what the interface is orhow that works or how much.
Again, your subscription is.
But I mean, if you're reallyoverwhelmed by subscriptions,
maybe something like that is atheoretical solution.
Be something at least to do alittle due diligence on.
Aaron Hoisington (16:02):
Yeah, no, that makes sense for sure.
Just exploring those differentoptions, and I think you're
never going to I don't know like, at least for myself, like if I
see something that's cool, andlike I, I, I do get hooked by
that seven day free trial.
Like I you mentioned that and Iwas like, oh yeah, I'm, I'm
guilty of of that specificallyLike, uh, I'll use, like, uh, I
(16:22):
really recently I've been intokind of finding, like like AI
artworking sites, likeartificial intelligence, and so
you like plug in something andyou're like cool, like you get a
seven day free trial and youcan draw whatever you want.
Yeah, like, and sometimes I'lldo like a little caveat, like
you can only use 50 drawings forthis time, or whatever, and
like so I'm like, oh, yeah,totally.
And you enter in your creditcard and said, hey, nothing will
(16:43):
be charged until a week fromnow, and so I'll play around
with it for two days and thenI'll just be like, cool, I'm
going to cancel this later.
And then I just forgot to do itand I'm just like, oh man, I
didn't really like that oneeither.
So I think that free trials,it's kind of like I think of
free trials as like credit cardreward points as well.
(17:04):
Sure, like, if you're diligentabout using your credit, if you
have the money to back it up,you put it on the credit card,
you pay it off, you can justreap the rewards.
You're coming out ahead awesome.
But you miss one or two of thoselike and suddenly you're like
you got me got things for sure,but I think about like with
subscription services too, likewe recently we canceled our
(17:24):
Netflix and I haven't canceledNetflix in forever.
Speaker 1 (17:27):
Like I've had Netflix since.
Aaron Hoisington (17:29):
I was like getting DVDs in the mail.
Ryan Nelson (17:32):
I didn't know anybody ever canceled Netflix.
Yeah, it's very hard to do Likethey.
They'd make it tough and like.
Aaron Hoisington (17:37):
There's also a thing if you on their home
screen, if you like, just clickon their home screen after
you've canceled it.
Like we have the app on our tv.
Speaker 1 (17:44):
It's very easy to re-update you have to click like
one button and it's just likeyou're back, kind of thing.
Aaron Hoisington (17:50):
So it's.
It's a little difficult tocancel and it's really easy to
re-up with them for sure.
But I think about like the.
I just get like sometimes I getsome fear of missing out like
people, like something will blowup on the internet like, oh my
gosh, you got to see this newshow that's on Netflix and I'm
like, darn it, yeah.
Ryan Nelson (18:08):
Yeah, it does.
That story about it being likekind of easy to sign up and hard
to unsubscribe is interestingand kind of resonates with me.
I recently so through work Ihave a ton of these
subscriptions and I recentlythere was a bunch I didn't need
and so I was like unsubscribingand downgrading some like we
talked about Notion already, andthere were a bunch of other
(18:28):
ones and there were twoproviders in particular who were
very challenging to get out of.
Most of them you log in, you goto their account and there's
some way to cancel or whatever.
But there were two inparticular that there was no way
to cancel and one I had to geton the phone with them to cancel
.
And the other one I had tosubmit like a service request
ticket to have it canceled.
(18:48):
So yeah, it's just kind ofinteresting.
You know, some of these can bemore challenging to get out of,
and that's just another goodreason, I think, to be more
diligent on the front end and belike oh, do I really want this
subscription to begin with?
Aaron Hoisington (18:59):
Yeah, yeah, and it's hard to know, like
sometimes, what you're gettinginto with those kind of things.
It's like oh, you made it soeasy to sign up, it must be so
easy to cancel too, and they'relike not really.
I recently switched over ourhome security system and I
canceled it and they're likecool, the cancellation has been
submitted, you'll hear backwithin 30 days.
And I was like what, what doyou mean?
(19:21):
What are we doing for 30 days?
Then they're like if you wantto come back, you have 30 days
to come back.
And I was like no, I'm good,what kind of thing?
So it is unique to see howdifferent uh companies set those
things up and absolutely whatit is.
But I mean, a lot of theseplaces are still do being pretty
profitable so there's something, something behind that for sure
.
I can only imagine the hasslewould be to uh cancel with
(19:44):
Alchemy Wealth you can't.
No, I'm just kidding.
It's probably be pretty easy todo that.
Never would want to, thoughWouldn't recommend it Sure.
Anything else you want to sayon this subject here?
Ryan Nelson (19:56):
Ryan no, I think we're good.
I think that's it.
Aaron Hoisington (19:58):
Awesome.
Well, appreciate it.
Check your guys' subscriptionswithout a doubt, and everybody
hang tight.
We'll be right back on theother side of this.
Speaker 1 (20:05):
And now to put the personal in personal finance.
Aaron Hoisington (20:12):
Welcome back to this side of the physical
physical podcast here.
Uh, ryan, we've talked about uhfood a few times here on this
podcast.
Uh, I, I never really know whatthe word foodie means.
I've seen it thrown around likea bunch and I'm like I don't
know.
I like to eat food.
Does that make me a foodie kindof thing Sure.
Sure you self-identify?
Yeah, I suppose so.
(20:33):
So I was thinking about thisone here and this is a unique
one.
I got a, you know, at thispoint he's 20 months old.
I got a kid at home and he justeats like a horse.
He'll eat anything.
He loves everything.
That's awesome and it's great.
And I have people who come overwith their kids and they're
like two, three years old andthey're like, oh, he doesn't eat
(20:57):
this, he will only eat this.
He only eats chicken fingers,whatever.
And I'm just like, oh well, myson eats everything.
And they're like, just wait,Wait till he figures out what
actually really tastes good.
He's going to change likecertain things, and I was like
all right, well, that's funny.
So it made me think of thisquestion here what's a food as a
kid you hated or wouldn't eat,but nowadays you actually really
(21:17):
like?
Ryan Nelson (21:20):
That's what you've really changed your opinion on.
I feel like there's like thatclassic example of like every
kid hates, like broccoli andstuff.
Sure, and it turns out I stillhate broccoli.
I'm really not a big broccoliguy, but yeah.
I, you know, I think I wasthinking kind of like cheeky,
like you know, like beer,whiskey.
I can't say I indulged in muchof that as a child and it
(21:42):
definitely is an acquired taste,I think.
But I do think like vegetablesin general.
I wasn't a huge fan ofvegetables going up and I don't
know that I'm still a huge fanof them, but I'm happy to
tolerate them and eat them in asalad and, truth be told, if
there's broccoli on my plate,I'm probably going to eat it.
Aaron Hoisington (21:59):
I'm not going to be happy about it, but I'll
eat it.
I'm still going to throw a fit.
Yeah, yeah, yeah.
Ryan Nelson (22:08):
But I real fit, yeah, yeah, yeah, but I'll eat
it.
Yeah, um, yeah, but so listen,we'll go with vegetables.
Aaron Hoisington (22:10):
Okay, what about you?
Yeah, no, I, I had it.
I was a relatively picky eaterwhen I was a kid, like when I
was a a young kid, and one ofthe things and I think about it
now.
I was like, oh my gosh, how wasI didn't like cheese oh, I was
not interesting choice, yeah I,I like I would always get my
hamburgers plain.
Interesting I just remember that.
And I remember one time we wentto McDonald's as kids and there
(22:33):
was like four kids of us and weall ordered food, blah, blah,
blah, and I was specific.
My mom was like hey, he wantshis hamburger plain.
It came with cheese and I wasjust like I ate around the
cheese.
That's funny.
It was just like in a littlepatty and I ate it all around it
.
Ryan Nelson (22:45):
Because my mom's like we're not going to go back
up there and do this and she'slike you're going to have to eat
it, and I was like I'd like therecord to show I'm actively
judging you right now.
Yeah, as you should.
As you should, because I can'tget enough cheese now.
Aaron Hoisington (23:02):
But it is that .
That was one that I was justlike no, I don't want to eat
that, I don't want to it's Idon't know if it's a textured
thing or whatever, but, like now, I really enjoy cheese, so it's
delicious, it is, without adoubt so.
But there's several ones ofthose like you mentioned, like
broccoli, like just vegetables.
In general, I feel like that'sa classic, without a doubt.
So I'm curious, I'm reallycurious to see as my son
(23:22):
continues to develop like whathe's just like.
No, I'm only having TeddyGrahams tonight or something
like that.
It's like okay, I don't know, Ihave no idea like what's a good
, healthy amount of food.
I'm just like sure you'reeating Awesome.
Speaker 1 (23:38):
You're still growing.
Aaron Hoisington (23:39):
All right, cool, I don't know.
So hopefully that starts theconversation of you guys to
think about something that youdidn't like as a kid, maybe you
like now and hopefully thatkeeps you hooked, keeps you
coming back for another podcaston the fiscal physical here and,
ryan, thank you, as always.
Anything left to say as we endthis one, as always, stay the
course.
Speaker 1 (24:01):
Thank you for joining us for the Fiscal Physical
Podcast.
Until next time, happy, happylistening and, as always, stay
the course.
If you have a question or topicsuggestions, please email us at
podcast at alchemy wealthcom.
If you enjoyed today'sdiscussion, subscribe to the
podcast to ensure you never missan episode and consider leaving
(24:23):
us a rating and review on yourfavorite platform.
This helps other listeners likeyou find the show.
For more resources, you canvisit Alchemy Wealth
Management's website atwwwalchemywealthcom or find your
fiscal physical the book onAmazon.
We'd be remiss if we didn'tmention that personal finance is
just that personal.
(24:43):
Please don't take anything wesay as advice.
The preceding content is forinformational and entertainment
purposes only.
It's not an offer or asolicitation, nor should it be
construed or relied upon for tax, legal or investment advice.
It doesn't consider yourpersonal financial situation or
objectives and may not besuitable for you.
Welcome to the Fiscal Physical Podcast.
Join us each week as we sitdown with the founder of Alchemy
Wealth Management and author ofyour Fiscal Physical, Ryan
Nelson.
Tune in to gain valuableinsights and practical tips as
we simplify complex financialconcepts into digestible lessons
(00:22):
.
From budgeting to retirementplanning, this podcast is your
go-to resource for masteringfinancial literacy.
Aaron Hoisington (00:33):
Welcome everybody to this week's episode
of the Fiscal Fiscal Podcast.
I am joined, as always, by MrRyan Nelson.
Ryan, how are you on thisgorgeous day?
I'm doing well today.
How are you doing, aaron?
I'm doing terribly, you know.
No, I'm you doing, aaron?
I'm doing terribly, you know.
No, I'm just kidding dude, I'mdoing great.
Man, it's always a pleasure tosit down with you here.
Do some fiscally physicaltalking.
(00:55):
I don't know if that made sense, but yeah, we're ready to get
into this episode here.
We're cruising right along here, man, does it feel like
yesterday?
We just started this?
Or feel like, uh, you know,like a year and eight months?
Ryan Nelson (01:07):
a little of both a little column, a little column B
.
I think at times this he feelslike it's flies right, it's like
everything right.
Aaron Hoisington (01:13):
Sometimes it feels like it's been so long ago
that we recorded the firstepisode and I'm just like holy
smokes, like that's like one ofthe you know, you think about it
.
I was like that's one of thelongest relationships I've had
in my life over that time ofyear.
(01:35):
So it's pretty fun.
But appreciate it, man, asalways, and we're going to dive
in today.
This is something I was reallyexcited to get to this episode
here to talk about subscriptions.
Actually, shout out to my wife,adriana, who suggested that we
do something on subscriptions,because recently her and I have
looked to kind of do someauditing on our finances and
(01:58):
such too, and we kind of werelooking and we're just like, oh,
wow, we pay for a lot ofsubscription services.
Like what's going on here?
And so I was diving into thisand checking it out and it's
interesting.
You think about subscriptionservices, subscription overload,
if you will and I was Googlingthis and it talked about it
being like a silent killer offinances and I was like, well,
(02:20):
that's an interesting way to putit.
But I mean, I think we've allkind of been there where we I
think we've talked about it onthis podcast too about like your
chestcom.
Ryan Nelson (02:28):
Oh, yeah, absolutely it might be.
Aaron Hoisington (02:46):
So I think it's a good thing to break down
and potentially provide someadvice or insight on how some
person can manage theirsubscriptions in the best
financial way.
Ryan Nelson (02:50):
Yeah, let's do it.
So maybe before we dive in.
So yeah, I feel like gyms werelike the original subscription
service, but yeah.
So what I think is almost maybea little interesting is like
why?
So subscriptions almost feellike this new thing that we've
been semi inundated with overthe last like decade, right,
like I don't think they were asprevalent before that.
(03:13):
So why do you think thesebusinesses are offering
subscriptions?
Aaron Hoisington (03:18):
Yeah, it's a good question.
I feel like in some casethey've, they've subscriptions
have always been there.
I think about magazines orsomething when I was growing up
Like, oh, we got NationalGeographic in my house and such
too.
But I feel like one of thereasons is subscriptions.
People just kind of forgetabout them.
At the same time, though,sometimes I'm getting a good
(03:42):
product out of it.
I think about Apple TV, forexample.
I don't really watch a lot ofthings on that, but I downloaded
that Exactly.
That's exactly what I was goingto say.
I watched season one on that.
I deleted Apple TV, signed backup when season two came out and
I did it again for season threeand I'm just like, well, you
know I'm paying for this.
(04:03):
I don't know.
Ryan Nelson (04:10):
It season three, and I'm just like, well, you
know, I'm paying for this, LikeI don't know, Like it just gets
you Absolutely.
Yeah, I mean, I think.
So.
I think the reason whysubscriptions are so prevalent
is like they make financialsense for the selling company,
right, the selling company ismaking money and they think they
can make more money by sellinga subscription than selling an
annual cost or a project paycost or something like that.
And so I think, ultimately, youknow, it makes financial sense
for the business.
And why does it make financialsense for the business?
Because they're able to billyou a smaller amount per month,
(04:32):
right.
So maybe it feels a little morenominal if you're billing $5 or
$10 or $15.
And so, like you said, it's alittle bit easier to just kind
of forget about and you say,well, maybe I'll think about you
know, maybe I'll watch, maybeI'll finish.
You know I watched half of TedLasso, maybe I'll watch the next
half of the next month, so I'lljust keep it for now, and then
you kind of forget about it.
It's like, well, just anothermonth, I'll just keep it a
(04:53):
little about it put it out ofsight out of mind, which can
again be dangerous.
(05:14):
Why, when you wake up one dayand you're like wait, I have
like 70 different subscriptionssomehow right, just for
streaming services.
But and then again they can feelsort of uh, low cost, right, so
, um, like I saw on your notes,you had mentioned um like death
by a thousand cuts.
I think that was a gooddescription, right, like it, may
each individual one may onlyrepresent 15 bucks, but then
(05:37):
when you have 20 of them, thatadds up to a chunk of change,
right, um, so yeah, so yeah,they do.
They're kind of small.
I'll put an air quote smallerand feel sort of harmless and
it's easy for you to just kindof mentally justify oh yeah,
it's only like 15 more bucks, Iwant to watch it.
Aaron Hoisington (05:53):
And it's funny because, like you mentioned,
like you mentioned, like thefive bucks, if I see something
for $4.99, that is a stealautomatically for me.
I'm like, oh, that's under fivebucks, I feel cool, I'm good
with that, no problem.
Like so if I, if something'slike $4.99, I'm pretty pretty
pro buying that or getting thatsubscription.
Like, if I see, oh, it's onlygoing to cost five bucks and I
(06:14):
can do this for a month, thenI'm almost like I'll just cancel
this later or whatever too.
But like, never have, no, neverhave, same with $9.99, less
than $10.
Ryan Nelson (06:27):
And I'm just like, hmm, there's a psychological
piece of that that just hits me.
Yeah, so a lot of people itauto-renews.
They say, oh, I'll use it later.
They can just kind of forgetabout what they have.
What's interesting, though, ishere I pulled some data.
This is another one of thosepieces of data that it's like I
don't really trust, but it'sprobably directionally accurate,
accurate.
I don't even know where to go toget good data on this.
But what's interesting is sothe average American estimates
(06:51):
they spend around $86 a month onsubscriptions.
So $86 a month.
What I find interesting, so ifyou go ask that random person
how much money do you spend permonth on subscriptions, they're
going to say $86.
What I find interesting is theaverage person actually spends
$219.
So there's a huge disconnectAgain.
Are these numbers accurate?
I don't know, I'm going to justgo out on a limb and assume
they're not, but hopefullythey're a bit directionally
accurate.
Yeah, and so what that means ispeople are underestimating by
(07:12):
like two, almost three timeswhat they have in subscriptions.
And that's exactly it.
If you have 10, 15, 20 of thesedifferent subscriptions, each
at 5, 10, 15, 20 bucks, you losetrack of them and you actually
don't realize what you'respending.
Right, and it is easy to add up.
You know we, you have yourclassics which are like the um,
the streaming services, stufflike that.
But you can have like an eye,you can get them for your iPhone
(07:34):
.
You can get a bunch of appsthat have subscriptions, right,
there's, they're just likeseemingly everywhere now.
So it is interesting A lot ofus are spending a lot more money
than we actually think onsubscriptions, which is
interesting.
So if the average American isspending $219 a month, imagine
what that could do in your Roth.
Oh, yeah, oh yeah, oh yeah, socool.
So that's a little bit aboutjust subscriptions in general,
(07:55):
but let's talk about if you'relike yeah, I know, ryan, I got a
lot of subscriptions and yeah,I get it.
Yeah, then you know.
So, like next steps, it'd belike, well, you got to audit
sort of what you have right, andso the easiest way is to track
everything.
And so one good way of trackingit is through your credit cards
and your bank statements, andevery financial transaction you
(08:16):
made is probably transactingthrough one of your banks, and
those banks all keep records foryou on your behalf.
They do so even if you haven'tbeen keeping track of anything
and you're like all keep recordsfor you on your behalf.
They do so even if you haven'tbeen keeping track of anything
and you're like I have no ideahow many subscriptions I have.
I would say that's probablyfair and reasonable.
But you could go back to yourbank right now and your credit
card company pull all thosestatements, look back three
months, four months, six months,and start to sort through and
(08:41):
start to figure out whatsubscriptions you're actually
paying.
There's also some cool personalfinance apps's like rocket
money, monarch, uh, co-pilot, umynab.
They can sort of automate thisfor you.
You link your bank to them andthen they do this effectively
just this audit for you manuallyor automatically?
Aaron Hoisington (08:54):
Have you ever done any of those services
yourself?
I'm just purely curious.
I used.
Ryan Nelson (08:59):
What was it called?
Was it Mint?
Aaron Hoisington (09:03):
I don't think that exists anymore.
I think it got bought out by.
Ryan Nelson (09:05):
Well, I think Intuit just shut it down.
Honestly, I can't remember Iused Mint back in the day.
Honestly, it's been so longthat I don't Sure.
I don't For all intents andpurposes no yeah, I was just
curious.
Aaron Hoisington (09:18):
I never have either.
I see the like.
I saw it actually funny an adthe other day when I was
watching TV yeah, and itmentioned like a subscription
service thing and like where itwould audit all your stuff and
like put it into like a sheetfor you and organize it and all
these different things, and Iwas like it might have been one
of these ones.
Do they charge a subscription?
They probably do.
I would bet they do.
I would bet they do as well.
(09:38):
Yeah, where do I categorizethat?
Ryan Nelson (09:41):
Yeah, but or no?
So what I do?
I go the old fashioned way andI go pull these bank statements
and I put it into a spreadsheet,which you know.
Honestly, these personalfinance apps are probably a
better use of my time, but Ilike spreadsheets and I don't
mind the manual work there, so Ijust use.
Excel.
But once you get into like, say,excel, if you're not, if you're
(10:01):
not, if you're going to go theold fashioned way like me, then
you want to sort of startcategorizing it so like, look at
, like, what are you paying forsubscriptions from entertainment
, utility, gym right, health,like fitness business?
So obviously I have a ton ofsubscriptions for my business,
and then just like kind ofrandom stuff.
And then you can start to figureout like you might look and you
might say, oh yeah, paying 10bucks a month to be able to
(10:26):
watch Ted Lasso soundsreasonable.
And then you start looking andyou're like man, between Amazon
Prime and Netflix and Hulu andwhatever else, you're like God,
I'm actually paying like $80 amonth for TV and maybe I don't
watch it very much.
So you start to get a real feelfor what you're actually paying
and then how it aligns withyour values and if you want to
keep you know if it's worth itto you or not.
So the three questions I wouldask once you do that
(10:48):
categorization, I would say youknow, do I use it regularly?
Is it improving my life?
Would I buy it again today?
I like this last question WouldI buy it again today.
So there's so many things whereyou know maybe you have this
subscription going and you'relike, well, I already have it,
I'm just going to leave it, butit's like would you pay for it
today.
Like if you were given thechance to sign up for it today?
If the answer is no, just goahead and cancel that thing.
(11:08):
You know what?
I probably all cut out a bunchof subscriptions if we were to
subscribe by that.
So basically, your decisionswould be like just cancel this
thing immediately.
So if you see it showing up,you're not using it.
You're not utilizing it, justcancel it.
Otherwise, a lot of times youhave options to either pause or
(11:29):
downgrade, and so sometimesyou're in a higher subscription
than you necessarily need.
We use Notion to organize ournotes here.
I recently downgraded my Notionmembership, so I was at one of
the higher memberships and now Iwent down to the free
membership and so that was justan opportunity to cut a cost
where I wasn't using theoriginal functionality.
Aaron Hoisington (11:46):
Which we would gladly re-upgrade if Notion
sponsored the podcast.
So if anybody out there fromNotion is listening just keep
that in mind.
Ryan Nelson (11:54):
Anybody wants to subscribe for $4.99?
.
Aaron Hoisington (11:58):
We'll take the call.
Ryan Nelson (12:01):
Yeah.
So I think there's someopportunity there for sure.
And then just tips movingforward.
I'd say this is the type ofthing that is just out of sight,
out of mind and you're like, ohyeah, this is maybe a good
reminder.
I'm going to go tonight andlook at my stuff.
You pull the spreadsheet, youadd and subscribe from a couple
of things and you're like, cool,that was useful and awesome.
And then it's out of sight, outof mind and you don't do it
(12:22):
again.
Right.
So like to be a real nerd aboutthis.
I mean, you could put acalendar reminder to do like a
quarterly review of doing thisRight, and the more often you do
it, the easier it is Right.
So if you did it everyquarterly, hey, it's going to be
a small lift every quarter, butyou stay on top of it.
Another cool idea I've neverbeen disciplined enough to do
this, but it's a cool idea isyou could have like a virtual
(12:44):
card or a credit card or a debitcard specifically for
subscriptions and put nothingelse on it right, so you just
have the.
You just say, yeah, this creditcard I don't use for anything,
I'm just going to make this mydedicated subscription card and
then you can go put it on everysingle subscription on this card
.
Now it's really easy.
You know, it's that wholeexercise I said to do before,
where you have to download it,categorize, do everything.
(13:05):
Well, now you just pull up yourone credit card statement and
it has every single subscription.
Aaron Hoisington (13:09):
you have and nothing.
Ryan Nelson (13:10):
That's not a subscription right.
So if you have a credit cardgoing, I don't know you'd have
to listen to some of our otherpodcasts to see if it'd be worth
it to actually get a new creditcard.
There's pros and cons that comewith that.
But if you have a credit cardgoing spare that you're not
using and you want to kind ofclean up your finances, these
are small tweaks you could makethat, make the organization of
your finances easier long-term.
And then, yeah, just logging inand seeing like, oh, I had
(13:31):
eight transactions this month, Ihave eight subscriptions.
What?
Speaker 1 (13:34):
are these?
Oh, this one I haven't used intwo years.
Ryan Nelson (13:36):
Let's cancel it, right, so that'd be something
interesting.
This is an homage to what youmentioned earlier.
If I'm using that word, right,which I'm probably not, I'm a
financial advisor, so you don'tspeak French.
Yeah, avoid free trials, right?
That's the classic example.
So you mentioned my chesscommembership.
(13:59):
I'll, I'll, uh, I'll give thequick, uh, the quick down and
dirty of that story real quickhere for those, uh, new
listeners.
But, um, so, yeah, I, Idownloaded, uh, you know, I had
a I, I I quote, unquote got intochess for like a day, right.
And uh, so downloaded or so gota, created a chesscom app, uh,
subscribe or like signed up forthe free membership for like a
month.
I think I proceeded to log intochesscom like either zero times
or one additional time in mylife, right, so I'd never used
(14:19):
it.
But so once this free, you know, whatever the, the free trial
like expired or terminated, thenit put me on their premium
membership or whatever, right,so it charged me like 99 bucks
and I was like, oh, my God, theygot me Right.
And then, uh, and then so I waslike, well, whatever lesson
learned, like that's my faultfor not being diligent about
(14:42):
this, right, and then so, uh, asthe story goes, a year later,
um, I'm looking, so I canceledthe membership, and everything a
year later comes and theycharged me again.
I'm like what the heck?
And I had just forgotten tocancel it again.
Right, it was just like, well,yeah and uh.
So now, at this point, I dobelieve that is canceled.
Yeah, I have to check though.
Yeah, but yeah, it's just agood example of it's so easy.
I mean, there's a reason whythey do free trails Absolutely,
(15:03):
they want to hook you, and soeven they didn't even hook me.
I didn't even ever log in, but,like their system, auto renews
and does everything, and so ittook my action to actually log
in and unsubscribe, and Ineglected to do that, and so
they got an extra 200 bucks outof me, which was my own silly
mistake, but also Good for them,I suppose.
Speaker 1 (15:23):
Yeah.
Ryan Nelson (15:25):
So just be aware of those free trials.
Don't pull a Ryan and sign upfor chesscom.
And then there are so youmentioned this earlier.
There are these third-partyservices.
So I've never used any of these, but two that I've heard of are
Trim and Rocket Money.
They can help, like you weresaying, identify subscriptions
specifically and help youunsubscribe, supposedly.
(15:47):
Again, I've never personallyused one, so I don't know
exactly what the interface is orhow that works or how much.
Again, your subscription is.
But I mean, if you're reallyoverwhelmed by subscriptions,
maybe something like that is atheoretical solution.
Be something at least to do alittle due diligence on.
Aaron Hoisington (16:02):
Yeah, no, that makes sense for sure.
Just exploring those differentoptions, and I think you're
never going to I don't know like, at least for myself, like if I
see something that's cool, andlike I, I, I do get hooked by
that seven day free trial.
Like I you mentioned that and Iwas like, oh yeah, I'm, I'm
guilty of of that specificallyLike, uh, I'll use, like, uh, I
(16:22):
really recently I've been intokind of finding, like like AI
artworking sites, likeartificial intelligence, and so
you like plug in something andyou're like cool, like you get a
seven day free trial and youcan draw whatever you want.
Yeah, like, and sometimes I'lldo like a little caveat, like
you can only use 50 drawings forthis time, or whatever, and
like so I'm like, oh, yeah,totally.
And you enter in your creditcard and said, hey, nothing will
(16:43):
be charged until a week fromnow, and so I'll play around
with it for two days and thenI'll just be like, cool, I'm
going to cancel this later.
And then I just forgot to do itand I'm just like, oh man, I
didn't really like that oneeither.
So I think that free trials,it's kind of like I think of
free trials as like credit cardreward points as well.
(17:04):
Sure, like, if you're diligentabout using your credit, if you
have the money to back it up,you put it on the credit card,
you pay it off, you can justreap the rewards.
You're coming out ahead awesome.
But you miss one or two of thoselike and suddenly you're like
you got me got things for sure,but I think about like with
subscription services too, likewe recently we canceled our
(17:24):
Netflix and I haven't canceledNetflix in forever.
Speaker 1 (17:27):
Like I've had Netflix since.
Aaron Hoisington (17:29):
I was like getting DVDs in the mail.
Ryan Nelson (17:32):
I didn't know anybody ever canceled Netflix.
Yeah, it's very hard to do Likethey.
They'd make it tough and like.
Aaron Hoisington (17:37):
There's also a thing if you on their home
screen, if you like, just clickon their home screen after
you've canceled it.
Like we have the app on our tv.
Speaker 1 (17:44):
It's very easy to re-update you have to click like
one button and it's just likeyou're back, kind of thing.
Aaron Hoisington (17:50):
So it's.
It's a little difficult tocancel and it's really easy to
re-up with them for sure.
But I think about like the.
I just get like sometimes I getsome fear of missing out like
people, like something will blowup on the internet like, oh my
gosh, you got to see this newshow that's on Netflix and I'm
like, darn it, yeah.
Ryan Nelson (18:08):
Yeah, it does.
That story about it being likekind of easy to sign up and hard
to unsubscribe is interestingand kind of resonates with me.
I recently so through work Ihave a ton of these
subscriptions and I recentlythere was a bunch I didn't need
and so I was like unsubscribingand downgrading some like we
talked about Notion already, andthere were a bunch of other
(18:28):
ones and there were twoproviders in particular who were
very challenging to get out of.
Most of them you log in, you goto their account and there's
some way to cancel or whatever.
But there were two inparticular that there was no way
to cancel and one I had to geton the phone with them to cancel
.
And the other one I had tosubmit like a service request
ticket to have it canceled.
(18:48):
So yeah, it's just kind ofinteresting.
You know, some of these can bemore challenging to get out of,
and that's just another goodreason, I think, to be more
diligent on the front end and belike oh, do I really want this
subscription to begin with?
Aaron Hoisington (18:59):
Yeah, yeah, and it's hard to know, like
sometimes, what you're gettinginto with those kind of things.
It's like oh, you made it soeasy to sign up, it must be so
easy to cancel too, and they'relike not really.
I recently switched over ourhome security system and I
canceled it and they're likecool, the cancellation has been
submitted, you'll hear backwithin 30 days.
And I was like what, what doyou mean?
(19:21):
What are we doing for 30 days?
Then they're like if you wantto come back, you have 30 days
to come back.
And I was like no, I'm good,what kind of thing?
So it is unique to see howdifferent uh companies set those
things up and absolutely whatit is.
But I mean, a lot of theseplaces are still do being pretty
profitable so there's something, something behind that for sure
.
I can only imagine the hasslewould be to uh cancel with
(19:44):
Alchemy Wealth you can't.
No, I'm just kidding.
It's probably be pretty easy todo that.
Never would want to, thoughWouldn't recommend it Sure.
Anything else you want to sayon this subject here?
Ryan Nelson (19:56):
Ryan no, I think we're good.
I think that's it.
Aaron Hoisington (19:58):
Awesome.
Well, appreciate it.
Check your guys' subscriptionswithout a doubt, and everybody
hang tight.
We'll be right back on theother side of this.
Speaker 1 (20:05):
And now to put the personal in personal finance.
Aaron Hoisington (20:12):
Welcome back to this side of the physical
physical podcast here.
Uh, ryan, we've talked about uhfood a few times here on this
podcast.
Uh, I, I never really know whatthe word foodie means.
I've seen it thrown around likea bunch and I'm like I don't
know.
I like to eat food.
Does that make me a foodie kindof thing Sure.
Sure you self-identify?
Yeah, I suppose so.
(20:33):
So I was thinking about thisone here and this is a unique
one.
I got a, you know, at thispoint he's 20 months old.
I got a kid at home and he justeats like a horse.
He'll eat anything.
He loves everything.
That's awesome and it's great.
And I have people who come overwith their kids and they're
like two, three years old andthey're like, oh, he doesn't eat
(20:57):
this, he will only eat this.
He only eats chicken fingers,whatever.
And I'm just like, oh well, myson eats everything.
And they're like, just wait,Wait till he figures out what
actually really tastes good.
He's going to change likecertain things, and I was like
all right, well, that's funny.
So it made me think of thisquestion here what's a food as a
kid you hated or wouldn't eat,but nowadays you actually really
(21:17):
like?
Ryan Nelson (21:20):
That's what you've really changed your opinion on.
I feel like there's like thatclassic example of like every
kid hates, like broccoli andstuff.
Sure, and it turns out I stillhate broccoli.
I'm really not a big broccoliguy, but yeah.
I, you know, I think I wasthinking kind of like cheeky,
like you know, like beer,whiskey.
I can't say I indulged in muchof that as a child and it
(21:42):
definitely is an acquired taste,I think.
But I do think like vegetablesin general.
I wasn't a huge fan ofvegetables going up and I don't
know that I'm still a huge fanof them, but I'm happy to
tolerate them and eat them in asalad and, truth be told, if
there's broccoli on my plate,I'm probably going to eat it.
Aaron Hoisington (21:59):
I'm not going to be happy about it, but I'll
eat it.
I'm still going to throw a fit.
Yeah, yeah, yeah.
Ryan Nelson (22:08):
But I real fit, yeah, yeah, yeah, but I'll eat
it.
Yeah, um, yeah, but so listen,we'll go with vegetables.
Aaron Hoisington (22:10):
Okay, what about you?
Yeah, no, I, I had it.
I was a relatively picky eaterwhen I was a kid, like when I
was a a young kid, and one ofthe things and I think about it
now.
I was like, oh my gosh, how wasI didn't like cheese oh, I was
not interesting choice, yeah I,I like I would always get my
hamburgers plain.
Interesting I just remember that.
And I remember one time we wentto McDonald's as kids and there
(22:33):
was like four kids of us and weall ordered food, blah, blah,
blah, and I was specific.
My mom was like hey, he wantshis hamburger plain.
It came with cheese and I wasjust like I ate around the
cheese.
That's funny.
It was just like in a littlepatty and I ate it all around it
.
Ryan Nelson (22:45):
Because my mom's like we're not going to go back
up there and do this and she'slike you're going to have to eat
it, and I was like I'd like therecord to show I'm actively
judging you right now.
Yeah, as you should.
As you should, because I can'tget enough cheese now.
Aaron Hoisington (23:02):
But it is that .
That was one that I was justlike no, I don't want to eat
that, I don't want to it's Idon't know if it's a textured
thing or whatever, but, like now, I really enjoy cheese, so it's
delicious, it is, without adoubt so.
But there's several ones ofthose like you mentioned, like
broccoli, like just vegetables.
In general, I feel like that'sa classic, without a doubt.
So I'm curious, I'm reallycurious to see as my son
(23:22):
continues to develop like whathe's just like.
No, I'm only having TeddyGrahams tonight or something
like that.
It's like okay, I don't know, Ihave no idea like what's a good
, healthy amount of food.
I'm just like sure you'reeating Awesome.
Speaker 1 (23:38):
You're still growing.
Aaron Hoisington (23:39):
All right, cool, I don't know.
So hopefully that starts theconversation of you guys to
think about something that youdidn't like as a kid, maybe you
like now and hopefully thatkeeps you hooked, keeps you
coming back for another podcaston the fiscal physical here and,
ryan, thank you, as always.
Anything left to say as we endthis one, as always, stay the
course.
Speaker 1 (24:01):
Thank you for joining us for the Fiscal Physical
Podcast.
Until next time, happy, happylistening and, as always, stay
the course.
If you have a question or topicsuggestions, please email us at
podcast at alchemy wealthcom.
If you enjoyed today'sdiscussion, subscribe to the
podcast to ensure you never missan episode and consider leaving
(24:23):
us a rating and review on yourfavorite platform.
This helps other listeners likeyou find the show.
For more resources, you canvisit Alchemy Wealth
Management's website atwwwalchemywealthcom or find your
fiscal physical the book onAmazon.
We'd be remiss if we didn'tmention that personal finance is
just that personal.
(24:43):
Please don't take anything wesay as advice.
The preceding content is forinformational and entertainment
purposes only.
It's not an offer or asolicitation, nor should it be
construed or relied upon for tax, legal or investment advice.
It doesn't consider yourpersonal financial situation or
objectives and may not besuitable for you.
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