August 8, 2025 • 12 mins
Host of ‘How to Money’ Joel Larsgaard joins the show to talk about Amazon jacking up prices, reigning in on spending, and whether AI will be used to set prices in the future.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Joe Larsguard, who takes month long vacations, is with us
How to Money, How To Money on Sunday's twelve to
two pm.
Speaker 2 (00:10):
So, Joe, would your.
Speaker 1 (00:11):
Next schedule vacation? Just curious?
Speaker 3 (00:14):
Yeah, I don't know, man, maybe maybe next month.
Speaker 1 (00:17):
Yeah.
Speaker 3 (00:17):
Cards, they they'll do a month.
Speaker 1 (00:18):
At a time. Yeah as well, you should. Okay, let's
get right into it. Amazon jacking up prices. You know,
Amazon is not so cheap anymore, So what's going on
with that?
Speaker 3 (00:29):
Yeah? Well, the Wall Street Journal fortunately is keeping Amazon honest,
and they're like following a basket of goods of like
twelve hundred different goods to see whether or not the
prices are going up. And these are kind of like
everyday goods, right. It's not laptop computers or anything like that.
It's it's kind of some of the basics, some kitchen staples,
some like shampoo, stuff like that, right that most people
(00:49):
would find themselves buying on Amazon. And Amazon claims, hey,
guess what, our prices they're not going up, they're going down.
And the Wall Street Journal says, I don't know, man,
we're gonna say otherwise, actually your prices have gone up significantly,
while actually simultaneously, prices at Walmart on most of these
same goods have gone down. And so I think that's
a couple of things. I think you know, for years,
(01:11):
Amazon was willing to play this super intense, cutthroat price
match game with other major retailers in an effort to
grab market share. And guess what Amazon has done that
Now a massive percentage of Americans rely on Amazon almost
too much, like habitually, and so now they find, well, hey,
(01:32):
guess what, people are less price sensitive. They're just coming
to shop because we have subscribed and say it because
we'll deliver it in a couple of hours, because we
make it so dang easy, and so we can raise
prices on some of these goods. So if you're not
price sensitive, which more Amazon choppers are becoming less price sensitive,
you're just going to pay the higher price.
Speaker 1 (01:52):
Yeah, and let's not forget the ease of returns are
just crazy. There's a UPS store up the street from me,
and I happen to be married someone who well, we
get at least five packages a day from Amazon, and
that can be one one dress in five different colors,
(02:13):
or five different sizes, because women's sizes are all weird.
Isn't there a program out there that compares all of
the prices online and retail at the same time. You
would think that would be easy to get to.
Speaker 3 (02:27):
Yes, So there are different sites that will help you
price compare, and there's one called Camel Camel Camel, which
is you know, sticks out in your head and so
you can like track prices there, and I think it's
really a really good idea. You can add like a
browser extension so that when you're actually on Amazon's site,
you can kind of check the price history to see, Okay,
it says it's a deal, but is it actually a deal,
(02:49):
Because especially with online prices these days, it might say, oh,
this is twenty percent off, and you're like, great, I'm
saving money. But because of the fluctuation and prices even
sometimes many day, many price fluctuations in a single day,
it's really hard to know whether or not you're getting
an actual good deal. So having that browser extension, you
can track the price story and say, well, it says
it's twenty percent off, but it sure looks like it
(03:12):
was much cheaper three weeks ago and maybe a month
and a half ago, and so maybe I should wait
until the price goes down again. But I think really
what this speaks to as well, if you're a prime member,
you're now like in the ecosystem. It's in some ways
it's like being a Costco member, except without the essentially
the obligation that Costco has to its patrons that it's
(03:34):
not going to charge prices above a certain threshold, that
it's not going to raise prices above fifteen percent or
wherever it is they cap them. Amazon doesn't do that.
So if you're into the ecosystem, you don't have any
assurances that prices are going to be reasonable. But you're
you've bought in already, You've got that some cost fallacy
of having a prime membership, of paying Amazon one hundred
and thirty nine dollars a year, and now you're just
(03:55):
going to go there to buy the majority of your goods.
I think it's that knee jerk habit that people have
people to buy too much and then spend too much.
Speaker 1 (04:02):
No question about it. I once interviewed an economist who
said something very interesting about Amazon, and he said, this
is the genius of Jeff Bezos, and that is when
he started Amazon and started expanding beyond just books. As
everybody knows the story, and they were losing money like crazy,
(04:25):
and he purposely did that, yeah, to get market share.
And the economist said, whenever Bezos wants to, he just
turns the faucet on and the money is going to
pour in the profits. And that's exactly what happened. Yeah,
I mean, just it's amazing what he has done with Amazon.
Speaker 3 (04:45):
It really is. And I'm a big fan, like I
know you are, Bill of free markets. And the thing is, though,
if we are too beholden to a particular company because
they've made it so dang easy on our lives, then
we're kind of avoiding the free market and we're not
price shopping, were becoming less price sensitive, And really it's
you can say Amazon makes it so easy, maybe it's
(05:06):
Amazon's fault, but really it's also it's much of it
lies on our shoulders for not being a little more
flexible and thinking a little bit longer about what we're
going to buy and where we're going to buy it.
Speaker 1 (05:16):
Yeah, and how many people out there can rent the
city of Venice for a wedding, right, that's not where
you had yours? No, I had mine outside of her ownA.
Speaker 3 (05:28):
I knew it was in Italy, but I wasn't sure
if you were like piggybacking on basis.
Speaker 1 (05:32):
It was outside of her ownA and it was was
it before his wedding? I got married March twentieth? No,
I think he just got married, didn't. Yeah?
Speaker 3 (05:39):
Yours was, Yes, yours was a couple months earlier.
Speaker 1 (05:41):
Oh, Joel, before we get into the topic, I was
on the phone with your mentor and the guy who
got you into radio, Clark Howard, and we spent Oh
I love Clark, and we probably yeah, we probably spent
I don't know, twenty minutes on the phone, and Joel,
your name did not come up once.
Speaker 3 (06:01):
That's fine, I'm okay with.
Speaker 1 (06:02):
Just mentioning it all right. Uh, raining in spending spending
less is becoming popular again, so explain that.
Speaker 3 (06:12):
Yeah. It's always fascinating to me, how when economic time,
when the economy kind of seems to be contracting a
little bit, right, we've seen kind of downward revisions of
job reports, and theyre are just it does seem like
the job market it's obviously not as robust as it
was two and a half three years ago, and so
people are saying, Okay, I can't jump ship and get
(06:33):
a higher paying job. And so people actually do start
to tighten. They're spending. Americans not so great at savings,
not so great at budgeting, but when you know, when
things hit the fan, we start to make shifts. And
so we're we are seeing that, and there is like
a trend on like TikTok of people actually wanting to
and advising raining and spending, which is not what you
(06:55):
normally see on TikTok. But this tracks with us history too,
think back even to the Great Recession. It's one of
those forced times where people are forced to save more
money when the economy is contracting, when they're having a
tough time personally with their finances. And the thing is,
I just want people not to do that, only in
potentially tough times where they're forced to do it. But man,
(07:18):
the great thing is if you save ahead and you
create a financial buffer, some margin in your life ahead
of a potentially catastrophic or difficult scenario, you're creating that
ability to withstand difficult economic storms instead of feeling like
you have to do it in the middle of the storm.
You know, it's like hurricane coming and you're putting up
the plywood in that moment versus kind of building the
(07:38):
house from the ground up to be more hurricane resistant.
Speaker 1 (07:41):
Yeah, you do that enough, then you'll be able to
take a month long vacation three times a year.
Speaker 3 (07:46):
Also, that's right, that's right. You two can live this
life of leiser life.
Speaker 1 (07:50):
Yes, exactly. But in terms of spending, is the high
end spending still going on? Neil? Let me ask you
a hold on a second, Joel, and that is you
know the high end restaurants. Are they suffering?
Speaker 2 (08:03):
Well, that style of restaurant has been suffering in southern
California for years actually, so I don't know if it's
different now, but they've been shifting. It's all about experiences
and things like that. But we have prominent ones here
that have stayed steady.
Speaker 1 (08:22):
So Joel, let me ask, when we talk about people
saving money, where are they saving money? Obviously not on
toilet paper or shampoo, So where it is? Where is it? Yeah?
Speaker 3 (08:37):
So I think what people are doing, some people are
seeing like trending down towards cheaper options at the grocery store. Right,
so they're saying, all right, listen, instead of buying the
organic cage free eggs, I'm going to go with the
standard white eggs that my mom brought home or whatever,
and the other things you can do, like one of
the things that we did ahead of our travels bill.
(08:58):
But this is something people can do rightly, is to
come up with like a pantry and a freezer challenge.
It's like, literally, think of all the stuff that's been
sitting in there for way too long, Like use and
eat the food you have on hand. We're shopping regularly
and we're letting things go away. Something like forty percent
of our food ends up in the trash can. So
for're just a little more conscious about stuff like that.
(09:18):
I think we can save money that way. And I
love a lot of people like love to hate on this,
but I really do love like a spending or a
savings challenge saying like listen for the month of August,
or pick next month, September. We're not gonna eat out once.
And that doesn't like revolutionize or change your budget, but
it can create new habits and it can save you
a little bit of money that single month. And then
maybe you're like, actually, we were found out we were
(09:40):
eating out too much. Anyway, there's all sorts of savings
challenges we've got a bunch listed on how to money
dot Com that you can partake in, and it's amazing
how one hundred bucks here, one hundred bucks there. It
really does add up, and pretty soon you've got that
basic emergency fund saved, or you've got a little extra
cushion right in your account, so that you're not quite
as worried about what might be happening in the economy.
You're not like biting your nails every time you read
(10:01):
the headlines.
Speaker 1 (10:02):
Comparing, for example, the end of World War two as
one of the great days in American history or the
founding of our country. I was at Costco a couple
of days ago, and they now have free range eggs
at a less than half the price you would find
(10:22):
in the store. I mean, and my wife is into
the free range stuff. She's into that natural stuff. You know,
she dances around trees and bushes and that sort of thing. Okay,
real quickly, working for companies with employer brands, let's talk
about that, and we just literally have a two minutes
(10:43):
on that one.
Speaker 3 (10:44):
Sure, yeah, there was some new research and I found
this interesting and it kind of tracks you just mentioned Costco.
But the best companies to work for are actually the
companies that have what's like considered to be a fantastic
employer brand, where people just trust that brand. And it's
not just consumers, but it's people that work for that
company that have great fondness and respect for it. So
(11:07):
Charter did a lot of this research and kind of
what they found was that these companies have better customer service,
which engenders more loyalty from customers, and that enhances the
brand even more. So. When you look at a company
like JP Morgan Chase, for instance, on the banking side,
they've got kind of this halo around their brand, and
so people that work for JP Morgan Chase versus Bank
(11:28):
of America, they have a better experience, they stick around longer, Right,
it's more cohesive workplace to exist in, and they often
have better benefits and perks. Two in the stock market,
the stock does better too for brands like that. So
it really is interesting. If you treat your employees well,
they'll treat the customers well, and the brand benefits significantly
from it.
Speaker 1 (11:49):
Yeah, and the benefits you were talking about, I mean,
if you can recognize the name and the brand has
a good reputation, it's almost automatic that good pay and benefits,
follow Costco for example, Trader Joe's for example. As you said,
Morgan Chase, those are the companies to work for it.
The problem is everybody stays at those companies.
Speaker 3 (12:11):
Yeah, but when you're looking for a job, look for
specific companies that have a great reputation and specifically aim
to get to know people like tap your network in
that direction and submit your resume to companies that have
a great reputation, because those are the kind of jobs
you're going to want. Those are the kind of jobs
you might be sticking with for many, many years to come.
Speaker 1 (12:31):
All right, Joel, always, thank you. We'll catch you a
mid September as you finish your next vacation.
Speaker 3 (12:38):
Sounds good.
Speaker 1 (12:39):
Yeah, always a pleasure. Talk to you later, Bye, Joel.
Speaker 3 (12:41):
Thanks Bill,
Joe Larsguard, who takes month long vacations, is with us
How to Money, How To Money on Sunday's twelve to
two pm.
Speaker 2 (00:10):
So, Joe, would your.
Speaker 1 (00:11):
Next schedule vacation? Just curious?
Speaker 3 (00:14):
Yeah, I don't know, man, maybe maybe next month.
Speaker 1 (00:17):
Yeah.
Speaker 3 (00:17):
Cards, they they'll do a month.
Speaker 1 (00:18):
At a time. Yeah as well, you should. Okay, let's
get right into it. Amazon jacking up prices. You know,
Amazon is not so cheap anymore, So what's going on
with that?
Speaker 3 (00:29):
Yeah? Well, the Wall Street Journal fortunately is keeping Amazon honest,
and they're like following a basket of goods of like
twelve hundred different goods to see whether or not the
prices are going up. And these are kind of like
everyday goods, right. It's not laptop computers or anything like that.
It's it's kind of some of the basics, some kitchen staples,
some like shampoo, stuff like that, right that most people
(00:49):
would find themselves buying on Amazon. And Amazon claims, hey,
guess what, our prices they're not going up, they're going down.
And the Wall Street Journal says, I don't know, man,
we're gonna say otherwise, actually your prices have gone up significantly,
while actually simultaneously, prices at Walmart on most of these
same goods have gone down. And so I think that's
a couple of things. I think you know, for years,
(01:11):
Amazon was willing to play this super intense, cutthroat price
match game with other major retailers in an effort to
grab market share. And guess what Amazon has done that
Now a massive percentage of Americans rely on Amazon almost
too much, like habitually, and so now they find, well, hey,
(01:32):
guess what, people are less price sensitive. They're just coming
to shop because we have subscribed and say it because
we'll deliver it in a couple of hours, because we
make it so dang easy, and so we can raise
prices on some of these goods. So if you're not
price sensitive, which more Amazon choppers are becoming less price sensitive,
you're just going to pay the higher price.
Speaker 1 (01:52):
Yeah, and let's not forget the ease of returns are
just crazy. There's a UPS store up the street from me,
and I happen to be married someone who well, we
get at least five packages a day from Amazon, and
that can be one one dress in five different colors,
(02:13):
or five different sizes, because women's sizes are all weird.
Isn't there a program out there that compares all of
the prices online and retail at the same time. You
would think that would be easy to get to.
Speaker 3 (02:27):
Yes, So there are different sites that will help you
price compare, and there's one called Camel Camel Camel, which
is you know, sticks out in your head and so
you can like track prices there, and I think it's
really a really good idea. You can add like a
browser extension so that when you're actually on Amazon's site,
you can kind of check the price history to see, Okay,
it says it's a deal, but is it actually a deal,
(02:49):
Because especially with online prices these days, it might say, oh,
this is twenty percent off, and you're like, great, I'm
saving money. But because of the fluctuation and prices even
sometimes many day, many price fluctuations in a single day,
it's really hard to know whether or not you're getting
an actual good deal. So having that browser extension, you
can track the price story and say, well, it says
it's twenty percent off, but it sure looks like it
(03:12):
was much cheaper three weeks ago and maybe a month
and a half ago, and so maybe I should wait
until the price goes down again. But I think really
what this speaks to as well, if you're a prime member,
you're now like in the ecosystem. It's in some ways
it's like being a Costco member, except without the essentially
the obligation that Costco has to its patrons that it's
(03:34):
not going to charge prices above a certain threshold, that
it's not going to raise prices above fifteen percent or
wherever it is they cap them. Amazon doesn't do that.
So if you're into the ecosystem, you don't have any
assurances that prices are going to be reasonable. But you're
you've bought in already, You've got that some cost fallacy
of having a prime membership, of paying Amazon one hundred
and thirty nine dollars a year, and now you're just
(03:55):
going to go there to buy the majority of your goods.
I think it's that knee jerk habit that people have
people to buy too much and then spend too much.
Speaker 1 (04:02):
No question about it. I once interviewed an economist who
said something very interesting about Amazon, and he said, this
is the genius of Jeff Bezos, and that is when
he started Amazon and started expanding beyond just books. As
everybody knows the story, and they were losing money like crazy,
(04:25):
and he purposely did that, yeah, to get market share.
And the economist said, whenever Bezos wants to, he just
turns the faucet on and the money is going to
pour in the profits. And that's exactly what happened. Yeah,
I mean, just it's amazing what he has done with Amazon.
Speaker 3 (04:45):
It really is. And I'm a big fan, like I
know you are, Bill of free markets. And the thing is, though,
if we are too beholden to a particular company because
they've made it so dang easy on our lives, then
we're kind of avoiding the free market and we're not
price shopping, were becoming less price sensitive, And really it's
you can say Amazon makes it so easy, maybe it's
(05:06):
Amazon's fault, but really it's also it's much of it
lies on our shoulders for not being a little more
flexible and thinking a little bit longer about what we're
going to buy and where we're going to buy it.
Speaker 1 (05:16):
Yeah, and how many people out there can rent the
city of Venice for a wedding, right, that's not where
you had yours? No, I had mine outside of her ownA.
Speaker 3 (05:28):
I knew it was in Italy, but I wasn't sure
if you were like piggybacking on basis.
Speaker 1 (05:32):
It was outside of her ownA and it was was
it before his wedding? I got married March twentieth? No,
I think he just got married, didn't. Yeah?
Speaker 3 (05:39):
Yours was, Yes, yours was a couple months earlier.
Speaker 1 (05:41):
Oh, Joel, before we get into the topic, I was
on the phone with your mentor and the guy who
got you into radio, Clark Howard, and we spent Oh
I love Clark, and we probably yeah, we probably spent
I don't know, twenty minutes on the phone, and Joel,
your name did not come up once.
Speaker 3 (06:01):
That's fine, I'm okay with.
Speaker 1 (06:02):
Just mentioning it all right. Uh, raining in spending spending
less is becoming popular again, so explain that.
Speaker 3 (06:12):
Yeah. It's always fascinating to me, how when economic time,
when the economy kind of seems to be contracting a
little bit, right, we've seen kind of downward revisions of
job reports, and theyre are just it does seem like
the job market it's obviously not as robust as it
was two and a half three years ago, and so
people are saying, Okay, I can't jump ship and get
(06:33):
a higher paying job. And so people actually do start
to tighten. They're spending. Americans not so great at savings,
not so great at budgeting, but when you know, when
things hit the fan, we start to make shifts. And
so we're we are seeing that, and there is like
a trend on like TikTok of people actually wanting to
and advising raining and spending, which is not what you
(06:55):
normally see on TikTok. But this tracks with us history too,
think back even to the Great Recession. It's one of
those forced times where people are forced to save more
money when the economy is contracting, when they're having a
tough time personally with their finances. And the thing is,
I just want people not to do that, only in
potentially tough times where they're forced to do it. But man,
(07:18):
the great thing is if you save ahead and you
create a financial buffer, some margin in your life ahead
of a potentially catastrophic or difficult scenario, you're creating that
ability to withstand difficult economic storms instead of feeling like
you have to do it in the middle of the storm.
You know, it's like hurricane coming and you're putting up
the plywood in that moment versus kind of building the
(07:38):
house from the ground up to be more hurricane resistant.
Speaker 1 (07:41):
Yeah, you do that enough, then you'll be able to
take a month long vacation three times a year.
Speaker 3 (07:46):
Also, that's right, that's right. You two can live this
life of leiser life.
Speaker 1 (07:50):
Yes, exactly. But in terms of spending, is the high
end spending still going on? Neil? Let me ask you
a hold on a second, Joel, and that is you
know the high end restaurants. Are they suffering?
Speaker 2 (08:03):
Well, that style of restaurant has been suffering in southern
California for years actually, so I don't know if it's
different now, but they've been shifting. It's all about experiences
and things like that. But we have prominent ones here
that have stayed steady.
Speaker 1 (08:22):
So Joel, let me ask, when we talk about people
saving money, where are they saving money? Obviously not on
toilet paper or shampoo, So where it is? Where is it? Yeah?
Speaker 3 (08:37):
So I think what people are doing, some people are
seeing like trending down towards cheaper options at the grocery store. Right,
so they're saying, all right, listen, instead of buying the
organic cage free eggs, I'm going to go with the
standard white eggs that my mom brought home or whatever,
and the other things you can do, like one of
the things that we did ahead of our travels bill.
(08:58):
But this is something people can do rightly, is to
come up with like a pantry and a freezer challenge.
It's like, literally, think of all the stuff that's been
sitting in there for way too long, Like use and
eat the food you have on hand. We're shopping regularly
and we're letting things go away. Something like forty percent
of our food ends up in the trash can. So
for're just a little more conscious about stuff like that.
(09:18):
I think we can save money that way. And I
love a lot of people like love to hate on this,
but I really do love like a spending or a
savings challenge saying like listen for the month of August,
or pick next month, September. We're not gonna eat out once.
And that doesn't like revolutionize or change your budget, but
it can create new habits and it can save you
a little bit of money that single month. And then
maybe you're like, actually, we were found out we were
(09:40):
eating out too much. Anyway, there's all sorts of savings
challenges we've got a bunch listed on how to money
dot Com that you can partake in, and it's amazing
how one hundred bucks here, one hundred bucks there. It
really does add up, and pretty soon you've got that
basic emergency fund saved, or you've got a little extra
cushion right in your account, so that you're not quite
as worried about what might be happening in the economy.
You're not like biting your nails every time you read
(10:01):
the headlines.
Speaker 1 (10:02):
Comparing, for example, the end of World War two as
one of the great days in American history or the
founding of our country. I was at Costco a couple
of days ago, and they now have free range eggs
at a less than half the price you would find
(10:22):
in the store. I mean, and my wife is into
the free range stuff. She's into that natural stuff. You know,
she dances around trees and bushes and that sort of thing. Okay,
real quickly, working for companies with employer brands, let's talk
about that, and we just literally have a two minutes
(10:43):
on that one.
Speaker 3 (10:44):
Sure, yeah, there was some new research and I found
this interesting and it kind of tracks you just mentioned Costco.
But the best companies to work for are actually the
companies that have what's like considered to be a fantastic
employer brand, where people just trust that brand. And it's
not just consumers, but it's people that work for that
company that have great fondness and respect for it. So
(11:07):
Charter did a lot of this research and kind of
what they found was that these companies have better customer service,
which engenders more loyalty from customers, and that enhances the
brand even more. So. When you look at a company
like JP Morgan Chase, for instance, on the banking side,
they've got kind of this halo around their brand, and
so people that work for JP Morgan Chase versus Bank
(11:28):
of America, they have a better experience, they stick around longer, Right,
it's more cohesive workplace to exist in, and they often
have better benefits and perks. Two in the stock market,
the stock does better too for brands like that. So
it really is interesting. If you treat your employees well,
they'll treat the customers well, and the brand benefits significantly
from it.
Speaker 1 (11:49):
Yeah, and the benefits you were talking about, I mean,
if you can recognize the name and the brand has
a good reputation, it's almost automatic that good pay and benefits,
follow Costco for example, Trader Joe's for example. As you said,
Morgan Chase, those are the companies to work for it.
The problem is everybody stays at those companies.
Speaker 3 (12:11):
Yeah, but when you're looking for a job, look for
specific companies that have a great reputation and specifically aim
to get to know people like tap your network in
that direction and submit your resume to companies that have
a great reputation, because those are the kind of jobs
you're going to want. Those are the kind of jobs
you might be sticking with for many, many years to come.
Speaker 1 (12:31):
All right, Joel, always, thank you. We'll catch you a
mid September as you finish your next vacation.
Speaker 3 (12:38):
Sounds good.
Speaker 1 (12:39):
Yeah, always a pleasure. Talk to you later, Bye, Joel.
Speaker 3 (12:41):
Thanks Bill,
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Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
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