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<v Speaker 1>Let's say good morning now to the host of how

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<v Speaker 1>to Money on KFI.

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<v Speaker 2>It's our buddy Joel lars Guard. Morning Joel, morning, Amy.

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<v Speaker 2>We know you are going.

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<v Speaker 1>To head out for vacation because this is the last

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<v Speaker 1>time we're going to talk to you for a couple

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<v Speaker 1>of weeks.

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<v Speaker 2>Where are you guys going? So we are going to

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<v Speaker 2>head over to Hawaii.

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<v Speaker 1>Nice.

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<v Speaker 3>Yeah, my wife's best friend lives there, so we'll be

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<v Speaker 3>staying with them for a few days and we'll hit

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<v Speaker 3>up the Big Island for five.

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<v Speaker 2>Or six days.

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<v Speaker 1>And look at that how to Money Joel has figured

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<v Speaker 1>out how not to spend money on a hotel room

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<v Speaker 1>in Hawaii.

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<v Speaker 2>Stay with a friend, especially in expensive places like Hawaii

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<v Speaker 2>to go.

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<v Speaker 1>Okay, let's talk about these new cell services, their mv

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<v Speaker 1>n O. What does m v NO stand for.

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<v Speaker 2>Mobile Virtual Network Operator? And what is yeah? Okay, so basically.

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<v Speaker 3>It's all of these these new name brands are trying

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<v Speaker 3>to establish themselves as name brands. The big three are

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<v Speaker 3>you know, Verizon and AT and T and T Mobile.

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<v Speaker 3>Those are the ones you see the ads for everywhere.

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<v Speaker 3>And if you've been if you're a little more online,

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<v Speaker 3>you've seen the ads for companies like mint Mobile, which

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<v Speaker 3>is an mb and o that runs on T mobiles network.

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<v Speaker 3>But there have just been a proliferation of these mb

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<v Speaker 3>and o's and they're essentially, you know, buying space from

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<v Speaker 3>the big three and then they're reselling cell service at

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<v Speaker 3>a much cheaper price to the general public. And so

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<v Speaker 3>if you don't fall for the advertising when you're watching

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<v Speaker 3>your favorite sports team, then you're you're actually doing your research.

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<v Speaker 3>You could save a ton of money on cell phone service.

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<v Speaker 3>And it's amazing. It's one of those things where in

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<v Speaker 3>the era of inflation, we have seen a downward trend

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<v Speaker 3>in prices on cell phone service, and so what used

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<v Speaker 3>to be a good price three years ago, even you're

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<v Speaker 3>you're overpaying if you haven't reshopped your cell phone service.

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<v Speaker 3>So it's it's really important to re shop. They're Mint Mobile.

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<v Speaker 3>I just mentioned they're a great one. Us Mobile is

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<v Speaker 3>my current favorite, and they've got some of the best plans.

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<v Speaker 3>We're talking about unlimited cell phone service with talk, text

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<v Speaker 3>and data as well well. For the low low price

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<v Speaker 3>of seventeen dollars and fifty cents a month if you

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<v Speaker 3>prepay for a year, that's pretty incredible.

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<v Speaker 1>Okay, that and you pre pay for a year, so

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<v Speaker 1>it would be about two hundred bucks, right, Yeah, I

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<v Speaker 1>mean I pay almost that in a month.

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<v Speaker 3>Well, I'm always shocked by this, but when you look

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<v Speaker 3>at the stats of what the average I'm always baffled.

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<v Speaker 3>I'm like, there's no way this is true. The stats

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<v Speaker 3>show that the average person pays something like one hundred

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<v Speaker 3>dollars a month for cell phone service, and I'm like

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<v Speaker 3>that that can't be right because I'm paying not much

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<v Speaker 3>more than that for cell phone service for a full year.

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<v Speaker 3>So if that is true, if those numbers really are accurate,

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<v Speaker 3>then some people must be paying much more than one

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<v Speaker 3>hundred dollars a month. If I'm paying a whole lot less,

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<v Speaker 3>and I think a lot of folks think amy, well,

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<v Speaker 3>then I must be getting this inferior product. I'm getting

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<v Speaker 3>this third rate cell phone service. And you do have

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<v Speaker 3>to look at the fine print. For instance, with US Mobile,

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<v Speaker 3>yeah it's unlimited data, but after ten gigs, they're going

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<v Speaker 3>to throttle you, so you're not going to get as

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<v Speaker 3>fast as speeds. The truth is also that most people

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<v Speaker 3>don't use even ten gigs in a month because they're

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<v Speaker 3>on Wi Fi at work, they're on Wi Fi at home,

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<v Speaker 3>and unless you're watching like copious amounts of YouTube videos

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<v Speaker 3>when you're driving around in your car or walking the

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<v Speaker 3>streets of your neighborhood, you don't need that much data.

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<v Speaker 2>And there are other options out.

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<v Speaker 3>There too, like Google's Google has a pretty good cell

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<v Speaker 3>phone service as well that works well overseas. So there

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<v Speaker 3>are lots of options in the NB and O world.

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<v Speaker 3>What's interesting too, is there these companies. They are new

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<v Speaker 3>ones springing up, like the SmartLess podcast the Jason Bateman,

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<v Speaker 3>Will Arnett and Sean Hayes. They're creating a SmartLess cell

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<v Speaker 3>phone service. I guess it's just easier than ever to

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<v Speaker 3>create one of these companies. You know, the President has

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<v Speaker 3>a new ish MV and O cell phone service that

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<v Speaker 3>they announced just a couple of weeks ago. But just

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<v Speaker 3>be careful, be wary what are you getting and how

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<v Speaker 3>much are you paying? Because I do believe the President's

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<v Speaker 3>is like forty seven dollars a month, and like I said,

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<v Speaker 3>I'm paying seventeen dollars a month, So look at the

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<v Speaker 3>trade offs between what you're getting and because yeah, I

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<v Speaker 3>wouldn't buy it because my favorite podcast host launched one,

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<v Speaker 3>I'm looking for the best value cell phone plan and

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<v Speaker 3>US Mobile Mint Mobile. Those are typically two of the

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<v Speaker 3>top two. I would recommend people check out Okay Perfect.

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<v Speaker 1>And then you know, we're doom scrolling all over the place,

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<v Speaker 1>and one of those places is TikTok. And so people

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<v Speaker 1>are now getting financial advice from TikTok.

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<v Speaker 3>Yeah, I mean this has been a growing problem right

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<v Speaker 3>where there's something about financial advice in sixty seconds that's

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<v Speaker 3>cast out to everybody everywhere where.

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<v Speaker 2>There's just it's hard to find nuance.

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<v Speaker 3>And so there's a lot of people saying, well, I

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<v Speaker 3>heard this on TikTok and I applied it to my

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<v Speaker 3>life and it turns out, actually it didn't work for me.

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<v Speaker 3>Think about getting tax advice from TikTok. I mean, it's

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<v Speaker 3>so specialized your tax situation and what makes sense for you, you know,

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<v Speaker 3>the tax maneuvers that are actually going to help you

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<v Speaker 3>save on your taxes versus your neighbor. A lot of

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<v Speaker 3>it depends on your how you make your money and

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<v Speaker 3>do your own real estate right, all these other things.

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<v Speaker 3>And if you're taking your tax advice from TikTok and

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<v Speaker 3>they're trying to apply it directly to your life, you

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<v Speaker 3>could be making a mistake. And then there's just all

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<v Speaker 3>sorts of fraudulent claims on TikTok as well. And again,

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<v Speaker 3>I have friends in this space.

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<v Speaker 2>Do what I said shocking?

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<v Speaker 3>Yeah, I know right well, And I have friends in

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<v Speaker 3>this space, and they really aren't. They're smart, they're good,

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<v Speaker 3>They're delivering good content, good advice on TikTok and on Instagram.

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<v Speaker 3>So I'm not like castigating everyone who creates content on

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<v Speaker 3>these platforms. I think there are some really well intentioned

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<v Speaker 3>people who do offer good advice and who do try

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<v Speaker 3>to create the nuance that's necessary. It's just that there's

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<v Speaker 3>a lot of people who aren't doing that. And there

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<v Speaker 3>was this trend going around lately, and especially with kind

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<v Speaker 3>of what's happening with student loan repayment now, where the government,

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<v Speaker 3>the current administration is saying, yeah, you got to start

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<v Speaker 3>paying your student loan bills again after three and a

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<v Speaker 3>half years of not having to, and people are like,

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<v Speaker 3>I didn't remember I had student loans.

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<v Speaker 2>How much do I owe again? What's my monthly payment?

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<v Speaker 3>And you know, a lot of people are shocked, and

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<v Speaker 3>so a lot of people haven't, you know, because they

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<v Speaker 3>haven't been paying. They're not paying and their credit score

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<v Speaker 3>is getting dinged, and so you're looking for anything, you're

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<v Speaker 3>grasping on to hope that somehow, some way you don't

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<v Speaker 3>actually have to pay that student loan, and TikTok is

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<v Speaker 3>more than happy to oblige and interesting theories of how

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<v Speaker 3>you can avoid paying your student loan. And The New

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<v Speaker 3>York Times wrote about this recently and they're basically saying, Oh,

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<v Speaker 3>you can file acclaim based on privacy, or you can

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<v Speaker 3>dispute a student loan record, and this is a way

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<v Speaker 3>that you can get your student loan debt erased. And man,

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<v Speaker 3>if only it were that easy. In fact, student loan

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<v Speaker 3>debt is one of the hardest things to get rid of.

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<v Speaker 3>There are special exemptions for student loans where you can't

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<v Speaker 3>get rid of them even in bankruptcy court typically. So, yeah,

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<v Speaker 3>if you follow this advice on TikTok, you might be

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<v Speaker 3>excited to think that you can get rid of your

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<v Speaker 3>student loan debt, but it's not going to happen in reality.

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<v Speaker 1>Okay, So basically think twice before following financial advice that

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<v Speaker 1>you get from a platform known for recipes and dance moves.

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<v Speaker 2>Yeah, stick to the recipes and dance.

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<v Speaker 1>Moves all right. How the money on KFI, it's Joel Larsgard.

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<v Speaker 1>You can hear him every Sunday from noon to two.

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<v Speaker 1>Have a wonderful vacation. We'll talk to you soon, all right,

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<v Speaker 1>Thank you, Amy, all right, take care,