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<v Speaker 1>Let's say good morning though, to the host of How

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<v Speaker 1>to Money on KFI. It's Joel lars Card Morning, Joel morning, Amy.

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<v Speaker 1>Are you gonna yell at me for spending too much

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<v Speaker 1>on a hotel room?

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<v Speaker 2>No judgment here, Oh come on, you know what, as

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<v Speaker 2>long as you're not like sticking it on like can't

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<v Speaker 2>if you can't pay the credit card balance off, we

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<v Speaker 2>need to talk. But I hope that you have enough

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<v Speaker 2>money in the bank to pay for that expensive hotel.

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<v Speaker 2>I do.

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<v Speaker 1>I do, yeah, see that, But I've been saving for

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<v Speaker 1>a long time for it.

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<v Speaker 2>Also, the moralizing and the talking down people who don't

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<v Speaker 2>do it the way I would do it, that's not

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<v Speaker 2>what I'm about either.

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<v Speaker 1>Okay, then I don't feel bad. But we did. We

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<v Speaker 1>did just decide to kind of throw caution to the

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<v Speaker 1>wind on this mor and I think it's because we

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<v Speaker 1>hadn't traveled in so long. We're just like, let's not

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<v Speaker 1>worry about it now. But and like you said, knowing

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<v Speaker 1>that the money is there, we're going to be able

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<v Speaker 1>to pay off the credit cards is just you know.

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<v Speaker 2>And you know, if you've listened to my show at all,

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<v Speaker 2>you know I talk about something called the craft beer

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<v Speaker 2>equivalent and what that means. I like craft beer, and

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<v Speaker 2>some people think I'm insane for spending twenty five bucks

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<v Speaker 2>on a four pack or twenty two bucks on a

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<v Speaker 2>single bottle of awesome beer. But if you carve those

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<v Speaker 2>things out in your budget on purpose, it makes it

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<v Speaker 2>easier to roll back the spending on a whole bunch

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<v Speaker 2>of other line items in your budget. It makes it

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<v Speaker 2>easier to say, well, yeah, I'll go with the discount

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<v Speaker 2>cell phone provider, because guess what it means, I've got

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<v Speaker 2>more money to funnel into the things I care about

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<v Speaker 2>the most. And so budgeting and getting good with your money,

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<v Speaker 2>it's not all about deprivation to the max. Really, it's

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<v Speaker 2>about funneling money into the areas the matter of the

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<v Speaker 2>most to you. So if that's an expensive hotel on

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<v Speaker 2>a super fun, rare vacation, then go for it.

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<v Speaker 1>Okay, I did, all right, So let's talk about how

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<v Speaker 1>you can maybe make more money, or when you come

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<v Speaker 1>when it comes to trading in your car, because there

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<v Speaker 1>are lots of places now that make it very easy

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<v Speaker 1>for you to trade in your car.

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<v Speaker 2>Yeah, the name of the game. I feel like when

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<v Speaker 2>it comes to consumer marketing, these days is we're going

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<v Speaker 2>to make it easy on you, but that's going to

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<v Speaker 2>come with the cost. So, whether that's like livery from

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<v Speaker 2>grub hub, it's like, it's gonna be super simple. You

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<v Speaker 2>don't even have to get out of your pjs. We'll

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<v Speaker 2>knock on your door and hand it over to you,

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<v Speaker 2>but it's gonna come with a feet And the same

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<v Speaker 2>is true if you're trying to sell your car. And

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<v Speaker 2>so it used to be that there you had to

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<v Speaker 2>maybe take it to a dealership, whether it was like

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<v Speaker 2>a big one or a small local one to sell

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<v Speaker 2>your car, and yeah, they were gonna make it kind

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<v Speaker 2>of easy. But the carvanas of this world now they

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<v Speaker 2>get your quote online, they'll come to you, they'll pick

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<v Speaker 2>your car up, they'll hand you a check, and they're

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<v Speaker 2>sending emails to basically anyone who's ever done business with them,

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<v Speaker 2>and they're saying, hey, why don't you sell us your

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<v Speaker 2>car again? Pitching that will make it super simple. But

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<v Speaker 2>the problem is when you sell your car. I have

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<v Speaker 2>no beef with Carvana, and in fact, I think for

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<v Speaker 2>some people it might be a good place to buy

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<v Speaker 2>a car and p potentially a good place to sell,

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<v Speaker 2>but you have to think twice, and you have to

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<v Speaker 2>do some digging because the quote you get for your

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<v Speaker 2>car from a company like Carvana or from a company

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<v Speaker 2>like car mat which is another good company I've got

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<v Speaker 2>no beef with it just might be substantially lower than

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<v Speaker 2>what you could get putting in just a little bit

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<v Speaker 2>of legwork and selling it yourself.

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<v Speaker 1>So can you haggle with those companies at all? Or

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<v Speaker 1>is it just this is what we're offering, take it

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<v Speaker 1>or leave it?

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<v Speaker 2>Yeah? Typically not. Typically it's a this is this is

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<v Speaker 2>what we're offering, take it or leave it. And again

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<v Speaker 2>they do try to make it super simple and super easy.

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<v Speaker 2>But the best estimates I can find are that you're

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<v Speaker 2>going to get paid fifteen to twenty percent less than

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<v Speaker 2>what you would otherwise get. So you know, if you're

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<v Speaker 2>selling a fifteen thousand dollars car, well, carbon I might

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<v Speaker 2>say we'll give you eleven to five and so we'll

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<v Speaker 2>make it super simple, like no headache, no hassle. But

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<v Speaker 2>if you were to instead go through a little bit

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<v Speaker 2>of hassle and post it on let's say Facebook, marketplace

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<v Speaker 2>or on a site like auto trader, finding you know

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<v Speaker 2>local people who might be interested and man I miss this.

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<v Speaker 2>I always try to buy from private individuals and then

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<v Speaker 2>do my due diligence when I'm buying, which means get

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<v Speaker 2>that car checked out by a mechanic that I trust,

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<v Speaker 2>because I just that's how I feel like I'm going

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<v Speaker 2>to get the best car for me. Although I will

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<v Speaker 2>say CarMax and Carvan, and they both come with like

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<v Speaker 2>better guarantees these days. I believe with Carvana it's seven

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<v Speaker 2>days and with CarMax it's like thirty days. You can

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<v Speaker 2>take it back if there's an issue with it, which

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<v Speaker 2>is which is really nice. But when it comes to

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<v Speaker 2>selling the car again, I'm a big fan of, you know,

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<v Speaker 2>taking it to the taking it to the car wash,

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<v Speaker 2>cleaning it inside and out, taking some solid pictures, and

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<v Speaker 2>then posting it. And truly that could make the difference

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<v Speaker 2>of thousands of dollars in your pocket or in the

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<v Speaker 2>pockets of Carvana, because they're going to make the spread

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<v Speaker 2>when they mark it up and sell it to somebody else.

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<v Speaker 1>All right, Okay, so just be careful, and there is

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<v Speaker 1>that cost of convenience. The Chinese tariffs wanted to touch

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<v Speaker 1>base with you on this yesterday. They said, you know

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<v Speaker 1>what we're putting these on pause for a while, and

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<v Speaker 1>they're going from one hundred and forty five percent to

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<v Speaker 1>thirty percent for China and then down to like ten

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<v Speaker 1>percent for.

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<v Speaker 2>The US, right, yeah, yeah, so, which is a far

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<v Speaker 2>cry from the one hundred and forty five percent that

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<v Speaker 2>it was and the one hundred and twenty five percent

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<v Speaker 2>that China was gonna charge on American goods going into China.

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<v Speaker 2>And so I will say, like, if I have like

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<v Speaker 2>two pomp poms in my hand, I'm partially putting one

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<v Speaker 2>up in the air and waving it mildly, because this

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<v Speaker 2>is a tariff pause. It's ninety days of tariff pause.

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<v Speaker 2>And the truth is, if you really even just read

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<v Speaker 2>a basic economics textbook, what we know about tariffs is

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<v Speaker 2>that they're bad. They harm free trade, They're going to

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<v Speaker 2>cost consumers more money. And so I would love to

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<v Speaker 2>see tariffs rolled back completely and to see and maybe

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<v Speaker 2>maybe that's ultimately what's going to happen at the end

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<v Speaker 2>of the day, because this is again a partial truce,

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<v Speaker 2>a rollback for ninety days, and this is certainly good

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<v Speaker 2>for businesses. The markets were up, they were very excited

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<v Speaker 2>about this announcement. But where do things go from here,

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<v Speaker 2>and can we find some sort of solid landing place

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<v Speaker 2>with China when it comes to a tariff rollback and

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<v Speaker 2>a free trade agreement that benefits all parties and the

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<v Speaker 2>benefits American businesses. That remains to be seen because right

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<v Speaker 2>now it's been like threats of insane tariffs and then hey, no,

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<v Speaker 2>we're gonna pause. And yet finding some real, sticking, long

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<v Speaker 2>ground sticking place that's been harder to come by, Yeah.

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<v Speaker 1>Because the uncertainty is still there since it's not like, hey,

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<v Speaker 1>we have a final deal. It's we're pushing this down

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<v Speaker 1>so we can see if we can come to a deal.

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<v Speaker 1>But the deals are sticky. It's not just an easy

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<v Speaker 1>like I'll do this and you do that and let's

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<v Speaker 1>call it a day, you know.

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<v Speaker 2>I mean yeah, I mean the market rally yesterday was

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<v Speaker 2>partly I think about the belief that they think that

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<v Speaker 2>Trump is rethinking tariff policy altogether, not necessarily that thirty

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<v Speaker 2>percent lasting tariffs on Chinese goods coming in the United

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<v Speaker 2>States is a great thing that should be celebrated, but

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<v Speaker 2>it's saying maybe maybe the president's wising up and realizing

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<v Speaker 2>that tariffs aren't as good of a policy as he thought.

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<v Speaker 2>And so yeah, that's like a thing's cross sort of

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<v Speaker 2>situation though, because where does this land? It's anybody's guess.

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<v Speaker 1>Okay, well, we'll be watching and we'll have you to

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<v Speaker 1>weigh in and help you guide us through it. And

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<v Speaker 1>if you want more great guidance on your financial situation

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<v Speaker 1>and your future, you can listen to how to Money

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<v Speaker 1>Sundays noon to two right here on KFI with Joel Larscard.

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<v Speaker 1>Also you can follow Joel and get some great money

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<v Speaker 1>tips how to Money Joel, Thank you, Joel Larscard.

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<v Speaker 2>Thanks Amy.

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<v Speaker 1>All right, we'll talk to you soon