Speaker 1: Let's say good morning though, to the host of How
Speaker 1: to Money on KFI. It's Joel lars Card Morning, Joel morning, Amy.
Speaker 1: Are you gonna yell at me for spending too much
Speaker 1: on a hotel room?
Speaker 2: No judgment here, Oh come on, you know what, as
Speaker 2: long as you're not like sticking it on like can't
Speaker 2: if you can't pay the credit card balance off, we
Speaker 2: need to talk. But I hope that you have enough
Speaker 2: money in the bank to pay for that expensive hotel.
Speaker 2: I do.
Speaker 1: I do, yeah, see that, But I've been saving for
Speaker 1: a long time for it.
Speaker 2: Also, the moralizing and the talking down people who don't
Speaker 2: do it the way I would do it, that's not
Speaker 2: what I'm about either.
Speaker 1: Okay, then I don't feel bad. But we did. We
Speaker 1: did just decide to kind of throw caution to the
Speaker 1: wind on this mor and I think it's because we
Speaker 1: hadn't traveled in so long. We're just like, let's not
Speaker 1: worry about it now. But and like you said, knowing
Speaker 1: that the money is there, we're going to be able
Speaker 1: to pay off the credit cards is just you know.
Speaker 2: And you know, if you've listened to my show at all,
Speaker 2: you know I talk about something called the craft beer
Speaker 2: equivalent and what that means. I like craft beer, and
Speaker 2: some people think I'm insane for spending twenty five bucks
Speaker 2: on a four pack or twenty two bucks on a
Speaker 2: single bottle of awesome beer. But if you carve those
Speaker 2: things out in your budget on purpose, it makes it
Speaker 2: easier to roll back the spending on a whole bunch
Speaker 2: of other line items in your budget. It makes it
Speaker 2: easier to say, well, yeah, I'll go with the discount
Speaker 2: cell phone provider, because guess what it means, I've got
Speaker 2: more money to funnel into the things I care about
Speaker 2: the most. And so budgeting and getting good with your money,
Speaker 2: it's not all about deprivation to the max. Really, it's
Speaker 2: about funneling money into the areas the matter of the
Speaker 2: most to you. So if that's an expensive hotel on
Speaker 2: a super fun, rare vacation, then go for it.
Speaker 1: Okay, I did, all right, So let's talk about how
Speaker 1: you can maybe make more money, or when you come
Speaker 1: when it comes to trading in your car, because there
Speaker 1: are lots of places now that make it very easy
Speaker 1: for you to trade in your car.
Speaker 2: Yeah, the name of the game. I feel like when
Speaker 2: it comes to consumer marketing, these days is we're going
Speaker 2: to make it easy on you, but that's going to
Speaker 2: come with the cost. So, whether that's like livery from
Speaker 2: grub hub, it's like, it's gonna be super simple. You
Speaker 2: don't even have to get out of your pjs. We'll
Speaker 2: knock on your door and hand it over to you,
Speaker 2: but it's gonna come with a feet And the same
Speaker 2: is true if you're trying to sell your car. And
Speaker 2: so it used to be that there you had to
Speaker 2: maybe take it to a dealership, whether it was like
Speaker 2: a big one or a small local one to sell
Speaker 2: your car, and yeah, they were gonna make it kind
Speaker 2: of easy. But the carvanas of this world now they
Speaker 2: get your quote online, they'll come to you, they'll pick
Speaker 2: your car up, they'll hand you a check, and they're
Speaker 2: sending emails to basically anyone who's ever done business with them,
Speaker 2: and they're saying, hey, why don't you sell us your
Speaker 2: car again? Pitching that will make it super simple. But
Speaker 2: the problem is when you sell your car. I have
Speaker 2: no beef with Carvana, and in fact, I think for
Speaker 2: some people it might be a good place to buy
Speaker 2: a car and p potentially a good place to sell,
Speaker 2: but you have to think twice, and you have to
Speaker 2: do some digging because the quote you get for your
Speaker 2: car from a company like Carvana or from a company
Speaker 2: like car mat which is another good company I've got
Speaker 2: no beef with it just might be substantially lower than
Speaker 2: what you could get putting in just a little bit
Speaker 2: of legwork and selling it yourself.
Speaker 1: So can you haggle with those companies at all? Or
Speaker 1: is it just this is what we're offering, take it
Speaker 1: or leave it?
Speaker 2: Yeah? Typically not. Typically it's a this is this is
Speaker 2: what we're offering, take it or leave it. And again
Speaker 2: they do try to make it super simple and super easy.
Speaker 2: But the best estimates I can find are that you're
Speaker 2: going to get paid fifteen to twenty percent less than
Speaker 2: what you would otherwise get. So you know, if you're
Speaker 2: selling a fifteen thousand dollars car, well, carbon I might
Speaker 2: say we'll give you eleven to five and so we'll
Speaker 2: make it super simple, like no headache, no hassle. But
Speaker 2: if you were to instead go through a little bit
Speaker 2: of hassle and post it on let's say Facebook, marketplace
Speaker 2: or on a site like auto trader, finding you know
Speaker 2: local people who might be interested and man I miss this.
Speaker 2: I always try to buy from private individuals and then
Speaker 2: do my due diligence when I'm buying, which means get
Speaker 2: that car checked out by a mechanic that I trust,
Speaker 2: because I just that's how I feel like I'm going
Speaker 2: to get the best car for me. Although I will
Speaker 2: say CarMax and Carvan, and they both come with like
Speaker 2: better guarantees these days. I believe with Carvana it's seven
Speaker 2: days and with CarMax it's like thirty days. You can
Speaker 2: take it back if there's an issue with it, which
Speaker 2: is which is really nice. But when it comes to
Speaker 2: selling the car again, I'm a big fan of, you know,
Speaker 2: taking it to the taking it to the car wash,
Speaker 2: cleaning it inside and out, taking some solid pictures, and
Speaker 2: then posting it. And truly that could make the difference
Speaker 2: of thousands of dollars in your pocket or in the
Speaker 2: pockets of Carvana, because they're going to make the spread
Speaker 2: when they mark it up and sell it to somebody else.
Speaker 1: All right, Okay, so just be careful, and there is
Speaker 1: that cost of convenience. The Chinese tariffs wanted to touch
Speaker 1: base with you on this yesterday. They said, you know
Speaker 1: what we're putting these on pause for a while, and
Speaker 1: they're going from one hundred and forty five percent to
Speaker 1: thirty percent for China and then down to like ten
Speaker 1: percent for.
Speaker 2: The US, right, yeah, yeah, so, which is a far
Speaker 2: cry from the one hundred and forty five percent that
Speaker 2: it was and the one hundred and twenty five percent
Speaker 2: that China was gonna charge on American goods going into China.
Speaker 2: And so I will say, like, if I have like
Speaker 2: two pomp poms in my hand, I'm partially putting one
Speaker 2: up in the air and waving it mildly, because this
Speaker 2: is a tariff pause. It's ninety days of tariff pause.
Speaker 2: And the truth is, if you really even just read
Speaker 2: a basic economics textbook, what we know about tariffs is
Speaker 2: that they're bad. They harm free trade, They're going to
Speaker 2: cost consumers more money. And so I would love to
Speaker 2: see tariffs rolled back completely and to see and maybe
Speaker 2: maybe that's ultimately what's going to happen at the end
Speaker 2: of the day, because this is again a partial truce,
Speaker 2: a rollback for ninety days, and this is certainly good
Speaker 2: for businesses. The markets were up, they were very excited
Speaker 2: about this announcement. But where do things go from here,
Speaker 2: and can we find some sort of solid landing place
Speaker 2: with China when it comes to a tariff rollback and
Speaker 2: a free trade agreement that benefits all parties and the
Speaker 2: benefits American businesses. That remains to be seen because right
Speaker 2: now it's been like threats of insane tariffs and then hey, no,
Speaker 2: we're gonna pause. And yet finding some real, sticking, long
Speaker 2: ground sticking place that's been harder to come by, Yeah.
Speaker 1: Because the uncertainty is still there since it's not like, hey,
Speaker 1: we have a final deal. It's we're pushing this down
Speaker 1: so we can see if we can come to a deal.
Speaker 1: But the deals are sticky. It's not just an easy
Speaker 1: like I'll do this and you do that and let's
Speaker 1: call it a day, you know.
Speaker 2: I mean yeah, I mean the market rally yesterday was
Speaker 2: partly I think about the belief that they think that
Speaker 2: Trump is rethinking tariff policy altogether, not necessarily that thirty
Speaker 2: percent lasting tariffs on Chinese goods coming in the United
Speaker 2: States is a great thing that should be celebrated, but
Speaker 2: it's saying maybe maybe the president's wising up and realizing
Speaker 2: that tariffs aren't as good of a policy as he thought.
Speaker 2: And so yeah, that's like a thing's cross sort of
Speaker 2: situation though, because where does this land? It's anybody's guess.
Speaker 1: Okay, well, we'll be watching and we'll have you to
Speaker 1: weigh in and help you guide us through it. And
Speaker 1: if you want more great guidance on your financial situation
Speaker 1: and your future, you can listen to how to Money
Speaker 1: Sundays noon to two right here on KFI with Joel Larscard.
Speaker 1: Also you can follow Joel and get some great money
Speaker 1: tips how to Money Joel, Thank you, Joel Larscard.
Speaker 2: Thanks Amy.
Speaker 1: All right, we'll talk to you soon