September 9, 2025 • 8 mins
Amy talks with the host of ‘How to Money’ Joel Larsgaard about planning for Christmas, interest rates dropping, and used EVs getting cheaper.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Right now, let's say good morning too the host of
how to Money on KFI.
Speaker 2 (00:03):
It's our very own Joel Lars guard Morney Joel morning Amy.
Speaker 1 (00:08):
So, not that anyone's counting, but three months and fifteen
days till Christmas, and apparently it is not too early
to book your Christmas travel.
Speaker 3 (00:18):
No, it's not. And by the way, just one other
thing while we're talking about Christmas, before I start talking
about travel, is have you started saving for the gifts
you want to buy for people now? I love the
idea of people starting a sinking fund in January right
after Christmas, which sounds insane to most people are like,
I just got done spending money, But you remember, especially
if you racked up a little bit of credit card debt,
(00:38):
that starting early makes a lot of sense. And you
can't go back to January. We can't turn back time.
But start saving now, starts stocking away money now, so
you don't feel that pinch like as you get closer.
Set aside the money right now. But when we're pitch
every year, I know, I know, and so I think
most people do. But then doing something about it is
the hard thing. But I think it just it so
(01:00):
important to start putting aside money so that you don't
feel like you're getting punched in the face, and start
making that list too, like who am I buying for?
How much am I spending? Start creating a Christmas budget, which, yeah,
it's September, but now is the time to start thinking
about that stuff. And it's also the time to start
thinking about travel, because when you talk about when the
best deals are right now, or we're getting really close
(01:23):
to that point where you might start seeing the best
prices for holiday travels. So if you're like, yeah, I'm
definitely getting out of town, going to visit family or
friends for the holidays, starting to at least track airfare,
set airfare alerts on a site like Google Flights. That's
my preferred one that's super easy to use, and I
also love how Google Flights gives you that kind of green, yellow, red,
(01:45):
is a good time to buy? What's going on with prices,
And you know it's not perfect and they can't accurately
predict exactly what's going to happen with prices, but you
can get a pretty good clue of whether or not
this is a price you want to pounce on you
want a book now, or whether you want to hold
off for another week or two as you're tracking.
Speaker 1 (02:02):
I so have to do this today. And then I
have a quick question. I think we'ressed. You've addressed it before.
But say you buy your ticket and then the price drops,
are you stuck with it or is there anything you
can do at that point?
Speaker 3 (02:12):
So it depends on the on the airlines. Every airline
is different when it comes to that, and many airlines
like they're changing too. So Southwest had a policy right
where it was pretty flexible when it came to cancelation
and you could you had you were able to get
this credit, and then you could you could use that
(02:35):
credit for a long long time. And now they've said, hey,
actually it's just going to be for a year that
you can use that credit. So it depends on whether
or not you're going to be flying within the next year.
There's a Department of Transportation rule that there's a twenty
four hour refund rule, So if you're like, oh, I regret,
I regret buying that ticket, you can get that refund
(02:57):
instantly within twenty four hours of book And when it
comes to the actual specific airlines, make sure you know
what that is because it's going to vary based on
the fare that you're buying too, So Basic Economy you're
not going to have as many refund options as you
are with some of the more upgraded tickets that you
(03:18):
can buy, but those cost more money. And so I'm
the kind of guy who's totally willing to fly Basic
Economy and feel like a piece of cattle when I'm flying,
but it also comes with more stringent, less flexible cancelation rules.
Speaker 1 (03:28):
Okay, all right, so note to self, do that today
and go at least set up for the alerts on
Google Flights. And then interest rates are starting to come down.
I think they were like six point two nine percent
when we checked earlier this week. So maybe you're starting
to think about buying a home and where might we
find an unexpected deal if you can call it that.
Speaker 3 (03:51):
Sure, Yeah, I mean this is one of those the
housing market endlessly fascinating to me, as we've seen just
incredible price rises we're seeing across much of the country,
just those we're not seeing price increases, and that makes sense, right,
because we kind of hit a ceiling. Buyers were like, yeah,
I'm priced out, I'm not interested anymore, and so a
(04:12):
lot of buyers just sat on the sideline saying not
for me, not right now. The one area though, that
is really existing buyers can say I'm not going to
list my house because I don't think I'm going to
get what I want for it. But the people who
can't afford to not list their house are new home builders,
right so they build a new place and you know
(04:33):
that's been in the pipeline for sometimes for many many months,
if not multiple years, building out those new units, and
then those units are finished, and what are they going
to do? Sit on it, decide not to sell it.
So new homes are actually this one bright spot for
potential buyers where typically new homes cost more than existing homes.
(04:54):
Then someone's selling their you know, nineteen sixties ranch or
something like that, the new home is going to cost more,
well right now now, And we haven't seen this in.
Speaker 2 (05:03):
A really long time.
Speaker 3 (05:03):
I don't remember a time since the year two thousand
that we've had new homes being cheaper on average than
existing homes. But that is where we're at right now.
And so if you're looking for a deal, builders are
offering rate buydowns. The prices are more likely to be
cut from new builders, so it's a really fascinating part
of the market where maybe that's where you start looking.
If you're interested in buying a home and you feel
(05:25):
like you've been priced out, well maybe you're not priced
out of a brand new home and that's an anomaly
that's just not normal, okay.
Speaker 1 (05:32):
And then on the opposite, a flip side of homes,
there's instead of going new, a used EV maybe the
way to go if you're looking for a car.
Speaker 3 (05:41):
So the EV market, that's another fascinating thing right now
to me, because yeah, as those tax credits are they
were set to be around for many years, not any longer.
They're being phased out at the end of the month,
and so there's this i think something almost like ten
percent of cars being sold in the country where electric
vehicles that's set to drop off a cliff. What's going
(06:02):
to happen with the used DV market is fascinating. We've
seen prices plummet in that regard, like new evs are
getting cheaper, but used dvs are getting a lot cheaper.
And if you qualify for that used DV tax credit,
buying one before the end of the month, if that's
something you're you're interested and you've been saving for it
could make a lot of sense. And then what happens
after those used DV tax credits go away and the
(06:24):
new EV tax credits go away. I think just the
demand is going to plummet for electric vehicles and we
might start to see more deals on the electric vehicle front,
even though we don't have the federal tax credit attached
to it, which is substantial. I think we're going to
see discounts from from a lot of automakers because how
else are they going to get rid of the inventory
that they've been building up. So this will be a
(06:44):
fascinating one to watch. But Tesla's in particular, to see
this line cross of used Tesla used Tesla being cheaper
than the average used internal combustion engine vehicle, not to
mention then what you're going to save on gas on
top of it, right by plugging in its your house.
It's it's pretty incredible if you just look at that graph,
just a dramatic price drop that Tesla's and EV's have seen.
(07:08):
It just makes it more financially viable. Whereas you remember
when when Tesla's first launch, and it was this luxury
vehicle essentially and only the super rich could afford it.
And now EV's are for everybody if you're interested, if
that's what, if that's what you're into.
Speaker 2 (07:22):
EV's for everybody, all right.
Speaker 3 (07:24):
I mean if you want it, if you want and.
Speaker 2 (07:27):
We don't have time to discuss it.
Speaker 1 (07:28):
But something that that also made me think about is
like the prices of those used evs are going down,
but how long does an electric vehicle last? I mean,
like if you take care of it, is it going
to last twenty years? Or does the battery crap out
after five years? I mean, we just we don't know
because they haven't been on the market long.
Speaker 3 (07:45):
Enough, right, Yeah, No, that's something we can totally talk about.
I had a friend who just had to get an
AV battery replaced, but it was under warranty. But if
it's not out in warranty, it's so expensive. And yeah,
like that is kind of one of those tough things
for especially buying the use electric vehicle. It's like, I
don't know, I need to make sure this battery is
actually going to last for me, so I'm not pit
(08:07):
spending ten thousand dollars after I buy the vehicle.
Speaker 2 (08:09):
All right.
Speaker 1 (08:10):
You can listen to more great financial tips from our
buddy Joel Larsgard on how to Money on KFI every
Sunday from noon to two, and you can also follow
him in at how to Money Joel. Thank you so much, Joel.
Speaker 3 (08:22):
Thanks Amy,
Right now, let's say good morning too the host of
how to Money on KFI.
Speaker 2 (00:03):
It's our very own Joel Lars guard Morney Joel morning Amy.
Speaker 1 (00:08):
So, not that anyone's counting, but three months and fifteen
days till Christmas, and apparently it is not too early
to book your Christmas travel.
Speaker 3 (00:18):
No, it's not. And by the way, just one other
thing while we're talking about Christmas, before I start talking
about travel, is have you started saving for the gifts
you want to buy for people now? I love the
idea of people starting a sinking fund in January right
after Christmas, which sounds insane to most people are like,
I just got done spending money, But you remember, especially
if you racked up a little bit of credit card debt,
(00:38):
that starting early makes a lot of sense. And you
can't go back to January. We can't turn back time.
But start saving now, starts stocking away money now, so
you don't feel that pinch like as you get closer.
Set aside the money right now. But when we're pitch
every year, I know, I know, and so I think
most people do. But then doing something about it is
the hard thing. But I think it just it so
(01:00):
important to start putting aside money so that you don't
feel like you're getting punched in the face, and start
making that list too, like who am I buying for?
How much am I spending? Start creating a Christmas budget, which, yeah,
it's September, but now is the time to start thinking
about that stuff. And it's also the time to start
thinking about travel, because when you talk about when the
best deals are right now, or we're getting really close
(01:23):
to that point where you might start seeing the best
prices for holiday travels. So if you're like, yeah, I'm
definitely getting out of town, going to visit family or
friends for the holidays, starting to at least track airfare,
set airfare alerts on a site like Google Flights. That's
my preferred one that's super easy to use, and I
also love how Google Flights gives you that kind of green, yellow, red,
(01:45):
is a good time to buy? What's going on with prices,
And you know it's not perfect and they can't accurately
predict exactly what's going to happen with prices, but you
can get a pretty good clue of whether or not
this is a price you want to pounce on you
want a book now, or whether you want to hold
off for another week or two as you're tracking.
Speaker 1 (02:02):
I so have to do this today. And then I
have a quick question. I think we'ressed. You've addressed it before.
But say you buy your ticket and then the price drops,
are you stuck with it or is there anything you
can do at that point?
Speaker 3 (02:12):
So it depends on the on the airlines. Every airline
is different when it comes to that, and many airlines
like they're changing too. So Southwest had a policy right
where it was pretty flexible when it came to cancelation
and you could you had you were able to get
this credit, and then you could you could use that
(02:35):
credit for a long long time. And now they've said, hey,
actually it's just going to be for a year that
you can use that credit. So it depends on whether
or not you're going to be flying within the next year.
There's a Department of Transportation rule that there's a twenty
four hour refund rule, So if you're like, oh, I regret,
I regret buying that ticket, you can get that refund
(02:57):
instantly within twenty four hours of book And when it
comes to the actual specific airlines, make sure you know
what that is because it's going to vary based on
the fare that you're buying too, So Basic Economy you're
not going to have as many refund options as you
are with some of the more upgraded tickets that you
(03:18):
can buy, but those cost more money. And so I'm
the kind of guy who's totally willing to fly Basic
Economy and feel like a piece of cattle when I'm flying,
but it also comes with more stringent, less flexible cancelation rules.
Speaker 1 (03:28):
Okay, all right, so note to self, do that today
and go at least set up for the alerts on
Google Flights. And then interest rates are starting to come down.
I think they were like six point two nine percent
when we checked earlier this week. So maybe you're starting
to think about buying a home and where might we
find an unexpected deal if you can call it that.
Speaker 3 (03:51):
Sure, Yeah, I mean this is one of those the
housing market endlessly fascinating to me, as we've seen just
incredible price rises we're seeing across much of the country,
just those we're not seeing price increases, and that makes sense, right,
because we kind of hit a ceiling. Buyers were like, yeah,
I'm priced out, I'm not interested anymore, and so a
(04:12):
lot of buyers just sat on the sideline saying not
for me, not right now. The one area though, that
is really existing buyers can say I'm not going to
list my house because I don't think I'm going to
get what I want for it. But the people who
can't afford to not list their house are new home builders,
right so they build a new place and you know
(04:33):
that's been in the pipeline for sometimes for many many months,
if not multiple years, building out those new units, and
then those units are finished, and what are they going
to do? Sit on it, decide not to sell it.
So new homes are actually this one bright spot for
potential buyers where typically new homes cost more than existing homes.
(04:54):
Then someone's selling their you know, nineteen sixties ranch or
something like that, the new home is going to cost more,
well right now now, And we haven't seen this in.
Speaker 2 (05:03):
A really long time.
Speaker 3 (05:03):
I don't remember a time since the year two thousand
that we've had new homes being cheaper on average than
existing homes. But that is where we're at right now.
And so if you're looking for a deal, builders are
offering rate buydowns. The prices are more likely to be
cut from new builders, so it's a really fascinating part
of the market where maybe that's where you start looking.
If you're interested in buying a home and you feel
(05:25):
like you've been priced out, well maybe you're not priced
out of a brand new home and that's an anomaly
that's just not normal, okay.
Speaker 1 (05:32):
And then on the opposite, a flip side of homes,
there's instead of going new, a used EV maybe the
way to go if you're looking for a car.
Speaker 3 (05:41):
So the EV market, that's another fascinating thing right now
to me, because yeah, as those tax credits are they
were set to be around for many years, not any longer.
They're being phased out at the end of the month,
and so there's this i think something almost like ten
percent of cars being sold in the country where electric
vehicles that's set to drop off a cliff. What's going
(06:02):
to happen with the used DV market is fascinating. We've
seen prices plummet in that regard, like new evs are
getting cheaper, but used dvs are getting a lot cheaper.
And if you qualify for that used DV tax credit,
buying one before the end of the month, if that's
something you're you're interested and you've been saving for it
could make a lot of sense. And then what happens
after those used DV tax credits go away and the
(06:24):
new EV tax credits go away. I think just the
demand is going to plummet for electric vehicles and we
might start to see more deals on the electric vehicle front,
even though we don't have the federal tax credit attached
to it, which is substantial. I think we're going to
see discounts from from a lot of automakers because how
else are they going to get rid of the inventory
that they've been building up. So this will be a
(06:44):
fascinating one to watch. But Tesla's in particular, to see
this line cross of used Tesla used Tesla being cheaper
than the average used internal combustion engine vehicle, not to
mention then what you're going to save on gas on
top of it, right by plugging in its your house.
It's it's pretty incredible if you just look at that graph,
just a dramatic price drop that Tesla's and EV's have seen.
(07:08):
It just makes it more financially viable. Whereas you remember
when when Tesla's first launch, and it was this luxury
vehicle essentially and only the super rich could afford it.
And now EV's are for everybody if you're interested, if
that's what, if that's what you're into.
Speaker 2 (07:22):
EV's for everybody, all right.
Speaker 3 (07:24):
I mean if you want it, if you want and.
Speaker 2 (07:27):
We don't have time to discuss it.
Speaker 1 (07:28):
But something that that also made me think about is
like the prices of those used evs are going down,
but how long does an electric vehicle last? I mean,
like if you take care of it, is it going
to last twenty years? Or does the battery crap out
after five years? I mean, we just we don't know
because they haven't been on the market long.
Speaker 3 (07:45):
Enough, right, Yeah, No, that's something we can totally talk about.
I had a friend who just had to get an
AV battery replaced, but it was under warranty. But if
it's not out in warranty, it's so expensive. And yeah,
like that is kind of one of those tough things
for especially buying the use electric vehicle. It's like, I
don't know, I need to make sure this battery is
actually going to last for me, so I'm not pit
(08:07):
spending ten thousand dollars after I buy the vehicle.
Speaker 2 (08:09):
All right.
Speaker 1 (08:10):
You can listen to more great financial tips from our
buddy Joel Larsgard on how to Money on KFI every
Sunday from noon to two, and you can also follow
him in at how to Money Joel. Thank you so much, Joel.
Speaker 3 (08:22):
Thanks Amy,
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